Daily Newsletter - October 10, 2011


Published on

For more details check out the below link -


Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Daily Newsletter - October 10, 2011

  1. 1. Oct 10, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 7-Oct 5-Oct % Change COMMENTARYBSE Sensex 16,233 15,792 2.79 INDIANSE Nifty 4,889 4,751 2.89 After falling for four straight trading sessions, markets rebounded almost 3% on back of positive news fromBSE Midcap 5,959 5,879 1.37 Europe and short covering in the frontline stocks. Markets played a catch up after the holiday and made aBSE Smallcap 6,722 6,645 1.15 gap-up opening, tracking gains across global markets as Eurozone pledged to shore up banks, easingNifty Junior 9,519 9,372 1.57 concerns of wide spread default. The Bank of England surprised markets with a fresh round of monetaryCNX Midcap 6,894 6,824 1.04 stimulus despite inflation running high. On the macro front, food inflation advanced to 9.4% and fuel price index climbed to 15%. In Friday’s trade, after opening with a gap, Indian stock indices stayed strong throughout the day. Among the Sensex stocks, Reliance Industries was up 5%, ICICI Bank was up 6% andGLOBAL MARKETS 7-Oct 6-Oct % Change Larsen & Tourbo was up 4%, lifting the Sensex by nearly 160 points. The Mid-Cap and the Small-Cap stocksDow Jones Ind (USA) 11,103 11,123 (0.18) too witnessed handsome buying, advancing over a percent each. The Nifty ended up 137 points, at 4,888 and the Sensex advanced 440 points, at 16,232. The market breadth was positive, as 1,802 stocks advancedNasdaq Composite(USA) 2,479 2,507 (1.09) for 984 declining stocks.S&P 500 (USA) 1,155 1,165 (0.82)FTSE 100 (UK) 5,303 5,291 0.23 GLOBAL MARKETSDAX (Germany) 5,676 5,645 0.54 US stocks were closed negative on Friday following a three-day rally after more jobs were created thanNikkei 225 (Tokyo) 8,606 8,522 0.98 expected in September, helping to ease concerns the economy was heading back into recession. NonfarmHang Seng (Hong Kong) 17,708 17,172 3.12 payrolls increased by 103,000, while economists expected 60,000, and the unemployment rate held steady atShanghai Comp (China)* 2,359 2,359 0.00 9.1%, The government report also showed 99,000 more jobs added in July and August than initially reported.KOSPI (South Korea) 1,760 1,710 2.89 U.S. retail sales increased in September at the fastest pace in six months, providing a sign of optimism. TheSTI (Singapore) 2,640 2,603 1.43 euro weakened against the yen for a sixth straight week, matching a string of losses ended in June 2010, after Italy and Spain saw their ratings cut even after the European Central Bank said it would aidMSCI Emerging Market 335 327 2.45 regional banks. The Dow Jones Industrial Average lost 20 points, or 0.18%, to 11,103. The Standard & PoorsMSCI Frontier Market 473 470 0.64 500 Index dropped 0.82%, to 1,155. Asia is trading mixed as Hang Seng is down 0.6 percent while Strait Times is up 0.4 percent; Shanghai is trading down 0.2 percent, which opened for trade after a week.BOND MARKETS 7-Oct 5-Oct Change10yr G-Sec Yield 8.72 8.54 0.18 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.45 8.45 0.00 Realty major DLF is likely to file an appeal on Monday with the Competition Appellate TribunalLIBOR (6m) 0.21 0.21 0.00 (Compat) against an order from fair-trade watchdog the Competition Commission of India (CCI), whichLIBOR (1m) 0.16 0.16 0.00 has asked the realty giant to pay a fine of Rs 630 crore for abuse of its dominant market position.Interbank Call rate 8.03 8.11 (0.08) Auto major Mahindra & Mahindra (M&M) said it had received over 5,000 bookings for its newly launched sports utility vehicle XUV500. BSE Turnover Rs Cr(000) Sensex State-owned steel major Steel Authority of India (SAIL) has sought gas allocation of 5 million standard 16600 3.0 cubic metres per day (mscmd) for its proposed 1,050-MW independent power plant at Jagdishpur, near Amethi in Uttar Pradesh. 16400 2.5 16200 2.0 Tecpro Systems announced on Friday that it has received an order owrth Rs 405.4 crore from NTPC. The order is to supply the extended coal handling plant package for Pakri Barwadih Coal Mining Block 16000 1.5 situated at Hazaribagh District in Jharkhand. 15800 1.0 15600 0.5 McNally Bharat Engineering said on Friday it has received three orders from Bharat Heavy Electricals (BHEL), Essar Projects and Maharashtra State Power Generation Co for their projects. McNally Bharat will 15400 0.0 design, manufacture, supply, erect, commission and do PG tests of stacker reclaimer machines for BHEL. 30-Sep 3-Oct 4-Oct 5-Oct 6-Oct It will also commission spares for raw material handling for BHEL’s project at Nagarnar in Chattisghar. For both the projects McNally Bharat will charge BHEL Rs 98 crore. Vedanta Group firm Sesa Goa have reported a 14.84% year-on-year decline in sales of iron ore to 1.55 NSE Turnover Rs Cr(000) Nifty million tonne during the quarter ended September 30, 2011. The company had reported sales of 1.82 5000 14 million tonnes during the corresponding quarter last fiscal 4950 12 4900 10 Ahead of a GoM meeting to finalise Air Indias financial restructuring plan, the US Exim Bank has 88.38 #DIV/0! decided to give loan guarantees of $1.3 billion to support the airlines fleet acquisition from aerospace 4850 8 company Boeing.The bank approved $1.3 billion in loan guarantees supporting Boeing commercial 4800 6 aircraft sales to Air India, a statement said after the Board meeting.Air India has pending orders for 27 4750 4 Boeing 787 Dreamliners, the deliveries of which are expected to begin in the next two months. These 4700 2 are part of the 68-aircraft order placed by the national carrier with the US plane manufacturer. 4650 0 30-Sep 3-Oct 4-Oct 5-Oct 6-Oct
  2. 2. Oct 10, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 7-Oct 5-Oct % Change CORPORATE NEWSMETAL 10,910 10,353 5.39% Kilitch Drugs (India) said that it had signed an agreement to sell its business ofBANKEX 10,348 9,962 3.88% research, development manufacturing and marketing of generic pharma formulationREALTY 1,736 1,678 3.44% products of its Paonta Sahib plant in Himachal Pradesh to US-based Akorn Inc. TheCD 6,346 6,139 3.37% agreement has been signed for cash consideration of about Rs 200 crore.CG 10,823 10,514 2.93% 2.64% New Delhi-based private equity player Fire Capital plans to invest around Rs 450 croreOIL&GAS 8,451 8,234 (about $100 million) during the remaining part of this fiscal, a top company official saidAUTO 8,488 8,290 2.38% over the weekend.FMCG 3,900 3,820 2.10%PSU 7,305 7,160 2.03% Dubais Arabtec Construction has inked a $204 million (Rs 1,001.7 crore) contract withIT 5,241 5,154 1.68% Indian joint venture partner Raheja Developers for construction of three mixed usePOWER 2,101 2,071 1.43% projects in New Delhi and Gurgaon, the company has said. In a filing to the DubaiTECk 3,195 3,171 0.74% Financial Market on Thursday, the UAEs largest construction firm said this is the firstHC 5,845 5,814 0.54% contract under the joint venture between Arabtec and Raheja Developers, which is currently under formation Reliance Capital has completed the sale of a 26% stake in its life insurance venture Reliance Life to Japans Nippon Life for over 3,000 crore, the Anil Ambani-led firm said.The transaction, which was announced in March, pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore ($2.6 billion). Following the deal, RelianceBSE Upper Circuit Breakers Capital will hold a 74% stake in Reliance Life.The deal has received all regulatoryCompany Name 7-Oct 5-Oct % Change approvals required for its completion, said Reliance Capital, the financial services arm ofBedmutha Industries 117 97 20.00 Anil Ambani-led Reliance Group, which has interests in telecom, power, entertainmentIndian Terrain 108.9 99.0 10.00 and infrastructure businesses, among others.Medicamen Bio 31.4 28.5 10.00 Power Finance Corp is hoping to raise nearly Rs 16,800 crore in the coming monthsSanraa Media 0.1 0.1 10.00 0 through issue of securities, including tax-free bonds.The state-run lender for the powerZyden Gentec 1.4 1.3 10.00 sector has already started the sale process for tax-saving infrastructure bonds and tax-free bonds, which together could raise up to Rs 11,900 crore. Mukesh Ambani-run RIL in a letter to Public Accounts Committee (PAC) Chairman Murli Manohar Joshi has said CAG did not consider its response in the report that criticised the company for violation of contract for showpiece KG-D6 block.CAG did not give us anBSE Lower Circuit Breakers opportunity and access to look into its comments on the draft report and finally the CAG 7-Oct 5-Oct % Change did not consider and include the companys repines, Reliance Industries (RIL) GroupCompany Name President V Balasubramanian said in the letter. CAG ignored the operational and technicalGujarat Narm Fly 30.24 32 (5.00) facts and data as well, he added.Kohinoor Broad 1.0 1.0 (5.00)AP Paper 175.1 184.3 (5.00) Downplaying Moodys decision to downgrade rating of State Bank of India, a seniorBlue Coast 187.7 197.5 (5.00) Finance Ministry official said the government will not fast-track recapitalisation of the PSUCityman 8.8 9.2 (5.00) bank. Workers’ protest at the three subsidiaries of Suzuki Motor Corporation in India intensified on Saturday as workers went back on a crucial clause of the agreement that was reached last Saturday, ending the month-long standoff. State-owned Hindustan Petroleum Corporation (HPCL) is likely to acquire a oil and gas block in Africa through its subsidiary, Prize Petroleum. Everest Industries Ltd, a building solutions company with head office in New Delhi, is planning capacity expansion in pre-engineered building and cement roofing sheets manufacturing plants in India at an expected investment of around Rs 100 crore.COMMODITY 7-Oct 5-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 106 103 2.61Gold (Rs/10gm) 26,300 26,450 (0.57) Brent Crude Oil ended up by 2.61% at $106 per barrel. Gold ended lower by 0.57% at Rs 26,300 and Silver closed up by 1.71% at Rs 52,199.Silver (Rs/kg) 52,199 51,323 1.71CURRENCY 7-Oct 5-Oct % Change The Indian Rupee closed higher against the dollar at Rs 49.15 as the Indian equityINR / USD 49.15 49.34 (0.39) benchmarks ended on a very positive note.USD / Euro 1.34 1.33 0.75Yen / USD 76.65 76.71 (0.08)
  3. 3. Oct 10, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSORIENTBANK 289.0 292.5 1.21 Corporate India announced 177 merger and acquisition deals worth $26.8 billion in theONMOBILE 60.7 61.3 1.07 first nine months this year, a 41.5% decline vis-a-vis the corresponding period a yearDHANBANK 71.4 72.1 0.98 ago, according to a report.As per the report by global advisory firmTRIVENI 20.6 20.8 0.97 mergermarket, titled Indian M&A Roundup Q1-Q3 2011, Indian M&A saw a 41.5%SREINFRA 32.0 32.3 0.94 decline in the value of M&A deals in the first nine months of 2011 and a 16.9% drop inEKC 69.9 70.5 0.93 terms of volume, compared to the same period of 2010.TTKPRESTIG 2,626.5 2,475.8 (5.74)DJIA 11,355.0 11,020.0 (2.95) President Barack Obama said his $447 billion jobs package, which faces a test vote inS&P500 1,184.5 1,154.3 (2.55) the Senate, would provide the U.S. economy “with the jolt that it really needs rightIDEA 90.3 88.5 (1.99) now” and asked Americans to urge their senators to support the legislation.VIPIND 889.6 878.0 (1.30) U.S. retail sales increased in September at the fastest pace in six months, providing aABAN 346.3 342.2 (1.18) sign of optimism for some merchants heading into the holiday shopping season, economists said before a report this week.INSTITUTIONAL ACTIVITY (Rs Cr) 27-Sep 26-Sep YTDFII Cash Net 88.8 -1006.8 (1,749) Support for Greek Prime Minister George Papandreou’s ruling party sank to the lowestFII Stock Futures 16.92 432.52 6,597 level this year after the government proposed a new property tax and cuts to pensionsFII Index Futures 1255.82 -113.18 15,522 and wages, according to a Public Issue poll.Mutual Fund 194.5 37.1 (328) Republicans will “pay a price” if they don’t support tax breaks they previouslyVALUATIONS P/E P/B DIV YLD embraced that President Barack Obama included in his $447 billion jobs plan, Senator Dick Durbin said.BSE 17.7 3.2 1.6NSE 17.6 3.1 1.6BSE500 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 %Sterlite Inds 113.45 8.56 Godfrey Phil 3400.0 11.90 Bedmutha Inds 116.8 19.99Jindal Steel 481.95 8.22 TTK Prestige 2620.4 9.63 Uflex 145.9 17.01Tata Motors 158.8 7.73 Standard Chartered 75.9 9.37 Spanco 135.1 12.16ICICI Bank 824.3 5.82 Shoppers Stop 345.9 8.93 Nitin Fire 39.2 11.38DLF 218.45 5.81 Indiabulls Fin 156.5 7.67 Maharashtra Scoot 329.9 9.75TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Bharti Airtel 354.8 -3.34 Shree Global Trd 222.5 -4.55 Camlin 55.4 -9.11Hero MotoCorp 1941.05 -0.26 Shree Cement 1758.0 -4.53 Emami Paper 35.5 -6.21- - - Electrosteel Steels 6.0 -3.38 Zodiac Cloth 222.0 -5.21- - - Areva T&D 219.0 -3.25 AP Paper 175.1 -4.99- - - HT Media 140.8 -2.90 KSERASERA 6.5 -4.99 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEGitanjali Gems Limited JAIWANTI MERCANTILES PRIVATE LIMITED BUY 1.53% 346.3Hexaware Technologies Lim ELDER VENTURE LLP BUY 2.53% 74.7Rushil Decor Limited PRAKASHBHAI ISHWARBHAI RANA BUY 1.27% 185.0Gravita India Limited CROSSEAS CAPITAL SERVICES PVT SELL 0.63% 442.7Savera Industries Ltd MANOJ KUMAR GOEL BUY 1.23% 40.5BSEBeryl Drugs GLOBALWORTH SECURITIES LIMITED BUY 0.80% 12.8Bloom Dekor SUNIL SITARAM GUPTA BUY 1.20% 14.7Eastern Sugar INDO AUSTRO CORPORATION PVT LTD SELL 1.52% 17.3Gemstone Invest KIRAN BHIKU BHANAES BUY 2.50% 8.8Vertex Sec MANISH RAMESHBHAI VYAS SELL 0.63% 206.9