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Sept 15, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 14-Sep 13-Sep % Change COMMENTARYBSE Sensex 16,710 16,467 1.47 INDIANSE Nifty 5,013 4,941 1.46 After flattening out in the previous trading session, the Indian markets surged higher on Wednesday with theBSE Midcap 6,332 6,319 0.21 NSE Nifty recapturing the 5000 mark while the BSE Sensex ended well above the 16,500 levels. BenchmarkBSE Smallcap 7,195 7,169 0.37 indices were on a roll as market players are hoping for a pause from the RBI on Friday besides some positiveNifty Junior 9,995 9,932 0.64 development from the eurozone. The rally was led by all sustained buying in IT, Telecom, Metals, BankingCNX Midcap 7,263 7,241 0.31 and Oil & Gas stocks. Auto and FMCG indices too closed higher. Realty and Capital Goods indices were rather muted. IT stocks were up smartly after the rupee touched its lowest level against the dollar since September 2009. Keeping the inflation numbers in view, RBI is likely to increase key rates on Fridays credit policy review. Markets are also likely to watch the corporate advance tax figures, which is set to come out on Thursday.GLOBAL MARKETS 14-Sep 13-Sep % Change Finally, the BSE Sensex ended at 16,710, adding 242 points. It had earlier touched a days high of 16,754 and aDow Jones Ind (USA) 11,247 11,106 1.27 days low of 16,387 after opening at 16,523. The NSE Nifty closed at 5,013, up 72 points. BSE market breadthNasdaq Composite(USA) 2,573 2,532 1.60 was positive as 1,527 stocks advanced while 1,268 declined in trades.S&P 500 (USA) 1,189 1,173 1.35 GLOBAL MARKETSFTSE 100 (UK) 5,227 5,174 1.02 US stocks rallied, sending the Standard & Poor’s 500 Index higher for a third day, and the euro extendedDAX (Germany) 5,340 5,167 3.36 gains as German and French leaders expressed support for Greece to remain in the euro monetary union andNikkei 225 (Tokyo) 8,519 8,617 (1.14) speculation grew that China may help Europe’s most-indebted nations. U.S. stocks rose even after theHang Seng (Hong Kong) 19,046 19,031 0.08 Commerce Department said retail sales were unchanged in August, following a 0.3 percent gain for July that was smaller than previously estimated. Crude oil declined after the U.S. government reported that fuelShanghai Comp (China) 2,485 2,471 0.54 inventories climbed (gasoline supplies rose 1.94 million barrels last week, the biggest gain sinceKOSPI (South Korea) 1,749 1,813 (3.52) June), demand dropped and retail sales stalled. The S&P 500 gained 1.4 percent to close at 1,189. DJIA closedSTI (Singapore) 2,740 2,729 0.37 at 11,247, up 1.3 percent.MSCI Emerging Market 373 375 (0.53) Asian stocks are trading higher after German and French leaders said they’re convinced Greece will remain inMSCI Frontier Market 495 491 0.81 the euro zone. New Zealand’s dollar slid after the central bank held interest rates amid the risk of slower global growth. Nikkei is up 1.6 percent, Hang Seng is 0.55 percent and Strait Times is up 0.5 percent.BOND MARKETS 14-Sep 13-Sep Change10yr G-Sec Yield 8.29 8.32 (0.03) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 The Solicitor General of India (SGI) has held that Reliance Industries (RIL) should not be allowed toLIBOR (6m) 0.39 0.39 0.00 recover the cost of facilities that remain underutilised due to lower than anticipated output at its KG-LIBOR (1m) 0.16 0.16 0.00 D6 gas field. RIL has built facilities to handle up to 80 million standard cubic metres per day of gas butInterbank Call rate 8.0 8.0 (0.04) current production is less than 45 mmscmd, a phenomenon that oil regulator DGH blames on drilling of lesser number of wells than what the company had committed in 2006 when it won approval for investing $8.8 billion. BSE Turnover Rs Cr(000) Sensex Suzuki Motor will likely locate a planned new Rs 6,235 crore ($1.3 billion) passenger car factory in 17400 3.5 Gujarat, Japans Kyodo news agency said on Wednesday. The report came two days after the company 17200 3.0 said it wanted to end its alliance with Volkswagen , a tie-up that had been expected to help Europes biggest carmaker expand on the Indian subcontinent. 17000 2.5 16800 2.0 Fast Retailing plans to ramp up overseas openings of its Uniqlo stores to 200 to 300 shops a year, as 16600 1.5 Japans largest clothing seller aims to leap frog foreign rivals and other global mass-market apparel 16400 1.0 giants. The ambitious plan to soar past Gap and H&M will not come easily, as the Japanese retailer saw sales and profits decline last year. 16200 0.5 16000 0.0 Business conglomerate Sahara India announced a mega expansion plan in the fast-moving consumer 8-Sep 9-Sep 12-Sep 13-Sep 14-Sep goods retail space, with plans to launch a range of food and non-food items at over 10,000 retail outlets across 285 cities in India. State-owned miner NMDC said it has submitted a formal binding bid to acquire 50% stake in NSE Turnover Rs Cr(000) Nifty Australian exploration firm Legacy Iron Ore for an undisclosed amount. 5200 14 5150 12 Mahindra Satyam, which provides infrastructure management services to international football body 5100 10 Fifa, today unveiled plans to leverage this association to position itself as a one-stop shop in the Middle 5050 88.38 #DIV/0! East for addressing the sports industrys technological needs. 8 5000 6 Indias leading telecom operator Bharti Airtel said it expects to touch revenues of $5 billion (about Rs 4950 4900 4 24,000 crore) from its Africa operations by March 2013. 4850 2 Tata Steel said it will cut about 1,000 jobs over the next four years at Ijmuiden plant in the 4800 0 Netherlands as part of cost-cutting measures. 8-Sep 9-Sep 12-Sep 13-Sep 14-Sep
Sept 15, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 14-Sep 13-Sep % Change CORPORATE NEWSIT 5,040 4,833 4.27% The labour issue at Maruti Suzuki Indias (MSI) Manesar plant spread to three factories ofTECk 3,158 3,068 2.92% two different firms of Suzuki in India, with workers going on strike in support of theirMETAL 12,137 11,911 1.90% colleagues at MSI.BANKEX 10,865 10,708 1.46%OIL&GAS 8,631 8,510 1.42% Japanese air-conditioner maker Daikin said it would invest Rs 250 crore to increase AC 1.31% production and enhance service network in India within a year as it looks to strengthen itsAUTO 8,592 8,481 position in the country.FMCG 3,995 3,949 1.17%PSU 7,572 7,518 0.72% Jubilant Life Sciences said its has signed a contract manufacturing agreement with anPOWER 2,176 2,165 0.53% undisclosed US pharmaceutical firm to produce an OTC product in women health andHC 5,948 5,925 0.39% personal care segment. The four-year deal could help the company garner over Rs 330CD 6,475 6,459 0.25% crore (over $70 million), Jubilant Life Sciences said in a statement.REALTY 1,723 1,721 0.12%CG 12,087 12,131 -0.36% Rice exporter Kohinoor Foods said it had completed the Rs 520-crore deal with US-based spice maker McCormick to set up a joint venture for marketing basmati rice and other food products in India. In the joint venture Kohinoor Speciality India, McCormick has 85% stake and rest is with Kohinoor Foods. Drug firm Strides Arcolab said the US health regulator has extended its approval for the companys Bangalore facility.BSE Upper Circuit BreakersCompany Name 14-Sep 13-Sep % Change In its bid to tide over the coal crisis, National Aluminium Company (Nalco) has placedParenteral Drug-$ 118 107 10.00 order to import 2 lakh tonnes of coal and feed its captive power plant (CPP).Sourcing coalUnited Van Der 13.2 12.0 10.00 from Mahanadi Coalfields (MCL), a subsidiary of Coal India, Nalcos 1,200 MW thermalDJS Stock 95.8 87.1 10.00 captive power plant at Angul in Orissa supplies power to the companys aluminium smelter located nearby.HB Est Developer 24.3 22.1 10.00 0STANROSE MAFATLAL 78.8 75.0 5.00 National Aerospace Laboratories (NAL), a constituent laboratory of Council for Scientific and Industrial Research and Mahindra Aerospace,announced the successful maiden flight of their jointly developed C-NM5 aircraft, marking an important "milestone" in their collaborative aircraft development programme. Oil explorer Cairn India said on it had received approval from its shareholders to acceptBSE Lower Circuit Breakers conditions imposed by the government necessary to clear Vedanta Resources deal to buyCompany Name 14-Sep 13-Sep % Change a 40% stake in the company.BNK Cap Markets 24.8 26.1 (5.00) Chinese power equipment company Shanghai Electric Group today signed twoGK Consultants 16.2 17.1 (5.00) agreements with CESC and is contemplating setting up a manufacturing base in India.TheLaser Dot 10.5 11.0 (5.00) second agreement was for supplying boilers, turbines and generators to the HaldiaLE WATERINA 5.9 6.2 (5.00) Thermal Power Project, a CESC subsidiary for a 600 MW (2x300MW) thermal power plant.Nath Seeds 13.7 14.4 (5.00) Vijay Mallya-promoted Kingfisher Airlines has found itself parrying questions about its survival after its auditor raised doubts over the companys ability to stay in business for long. Infosys is close to acquiring the health care business of Thomson Reuters in a $700-750 million deal. This will be the largest acquisition by India’s second largest information technology services firm.COMMODITY 14-Sep 13-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 112 112 (0.04)Gold (Rs/10gm) 28,155 28,292 (0.48) Brent Crude Oil ended lower at $111.8 per barrel. Gold ended lower by 0.48 percent at Rs 28,155 and Silver closed down by 1.31 percent at Rs 64,755.Silver (Rs/kg) 64,755 65,612 (1.31)CURRENCY 14-Sep 13-Sep % Change The Indian Rupee closed lower against the dollar at Rs 47.58 as the Indian equityINR / USD 47.58 47.51 0.15 benchmarks ended on a positive note.USD / Euro 1.36 1.36 -Yen / USD 76.70 76.92 (0.29)
Sept 15, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSDABUR 107.2 108.6 1.31 With inflation moving closer to the double-digit mark, bankers expect the Reserve BankABGSHIP 379.1 384.0 1.29 of India (RBI) to increase its key policy rates by 25 basis points (bps) in the upcomingSTRTECH 39.8 40.3 1.26 policy review on Friday. As long as inflation does not decline to a significant level, theMCLEODRUSS 251.1 253.9 1.12 RBI would continue its tight monetary stance. The general view is that RBI would go inPATNI 278.4 281.0 0.93 for another rate hike as inflation is hovering around the double-digit mark, IndianMPHASIS 341.4 344.5 0.92 Overseas Bank Chairman and Managing Director M Narendra said.BGRENERGY 323.5 314.4 (2.83)KSOILS 12.6 12.3 (2.38) General Electric (GE) said on Tuesday it would buy back Berkshire Hathaways preferredIOC 320.0 312.5 (2.34) stake in the largest US conglomerate, handing back a lifeline it grabbed during the 2008GLAXO 2100.0 2,051.1 (2.33) financial crisis. The company said in a regulatory filing it would pay $3.3 billion, plus unpaid dividends, to cash in famed US investor Warren Buffetts stake, which paid a 10%ABAN 393.1 384.2 (2.26) dividend. The redemption date has been set for October 17.ASHOKLEYLAND 26.0 25.5 (2.12) A leak from a shallow water crude oil pipeline in the Main Pass Area of the Gulf ofINSTITUTIONAL ACTIVITY (Rs Cr) 30-Aug 29-Aug YTD Mexico has led Chevron to shut down its offshore Louisiana Main Pass pipelineFII Cash Net 678.2 485 4,157 network, the company said on Tuesday.FII Stock Futures 464.01 361.22 1,601FII Index Futures 515.01 1079.21 11,379 Despite increasing insecurity in Afghanistan and gun battles with Taliban rebels in theMutual Fund 266.2 49 6,314 capital Kabul, Indian firms are bidding billions of dollars for a contract to mine iron ore in a central district of the country.VALUATIONS P/E P/B DIV YLD A consortium led by state-run Steel Authority of India (SAIL) could invest up to Rs 28,700 crore ($6 billion) in the mine, railroads and a steel plant in a race with China toBSE 18.4 3.4 1.5 lock in raw materials for two of the worlds fastest-growing economies.NSE 18.2 3.1 1.4BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Infosys 2341.4 5.26 Hindusthan Nat 205.1 7.66 Indosolar 10.5 19.95Jaiprakash Asso 67.5 5.14 A2Z Maint & Engg 227.7 7.61 Electrotherm 142.7 17.84Wipro 343.0 4.40 Deccan Chron 58.3 7.27 Western India Ship 8.8 12.74Hindustan Unilever 351.3 2.95 Madras Cements 103.8 6.79 Ruchi Infra 19.7 11.30TCS 1019.0 2.43 Hexaware Tech 76.5 6.55 Gemini Comm 23.8 11.21TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Tata Power 963.6 -1.92 GTL 61.6 -10.47 Nectar Life 20.6 -6.38L&T 1609.5 -1.52 Pantaloon Retl 256.9 -7.71 Neha Intl 118.3 -5.13Cipla 282.9 -1.48 KGN Inds 24.0 -4.95 Karma Ind 49.7 -4.97Bharti Airtel 378.6 -0.70 GTL Infra 13.2 -3.66 Empower India 4.4 -4.95SBI 1831.5 -0.47 Opto Circuits 240.3 -3.05 Prabhav Inds 74.0 -4.95 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEMindTree Limited Coffee Day Resorts Pvt Ltd BUY 5.68% 428.0MindTree Limited Ashok Soota SELL 5.50% 428.0Bharat Forge Ltd Barclays Capital Mauritius Limited SELL 0.55% 307.6Balrampur Chini Mills Balrampur Chini Mills Ltd BUY 0.86% 62.9Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9BSEBedmutha Inds INVENTURE GROWTH & SECURITIES LTD. BUY 1.23% 123.0BGIL Films KAILASH CHANDRA BUY 0.80% 4.7Gemstone Invest SUKRATI CONSULTANCY SERVICES SELL 2.25% 8.9Monnet Ispat BLACKSTONE MANAGEMENT PARTNERS BUY 1.80% 478.1Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1