Daily Newsletter - October 11, 2011


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Daily Newsletter - October 11, 2011

  1. 1. Oct 11, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 10-Oct 7-Oct % Change COMMENTARYBSE Sensex 16,557 16,233 2.00 INDIANSE Nifty 4,980 4,889 1.87 Markets extended Friday’s gains and advanced over 2%, led by buying in IT shares ahead of the InfosysBSE Midcap 6,040 5,959 1.36 results which will kick start the earnings season on Wednesday this week. Markets kicked-off new tradingBSE Smallcap 6,787 6,722 0.97 week on a solid note, with the main indices ending near days high, as investors welcomed an agreementNifty Junior 9,631 9,519 1.18 between the leaders of Germany and France to strengthen European banks. The NSE Nifty finished aboveCNX Midcap 6,987 6,894 1.35 the 4950 mark while the BSE Sensex ended over the 16,500 levels owing to all-round buying. Both the indices gained 2% each, notwithstanding mixed cues from US and Asian markets. Benchmark Indian stock indices started the day near session lows, but from then on there was no looking back, as they went from strength toGLOBAL MARKETS 10-Oct 7-Oct % Change strength led by strength in realty, IT, oil & gas and telecom stocks. Finally, the BSE Sensex ended at 16,557, upDow Jones Ind (USA) 11,433 11,103 2.97 324 points. The NSE Nifty closed at 4,980, up 92 points. From the broader market, the mid-cap and the small- cap indices witnessed smart gains, were up around 1% each. The market breadth was positive, as 1,687Nasdaq Composite(USA) 2,566 2,479 3.49 stocks advanced for 1,083 declines. Going forward, the markets will take cues from the IIP (IndustrialS&P 500 (USA) 1,195 1,155 3.41 Production) data for the August on Wednesday, the WPI (Wholesale Price Index) for September on Friday andFTSE 100 (UK) 5,399 5,303 1.80 the second quarter results which kick starts with Infosys numbers on Wednesday this week. EconomistsDAX (Germany) 5,847 5,676 3.02 expect IIP at around 5.5% y-o-y for August against 3.3% reported for July.Nikkei 225 (Tokyo) 8,606 8,606 (0.00) GLOBAL MARKETSHang Seng (Hong Kong) 17,711 17,708 0.02 U.S stocks rose, giving the Standard & Poor’s Index its biggest gain since Aug 23, and the euro surged theShanghai Comp (China)* 2,345 2,359 (0.62) most since July 2010 versus the dollar after the leaders of France and Germany pledged to deliver a plan toKOSPI (South Korea) 1,766 1,760 0.38 stem the debt crisis. German Chancellor Angela Merkel and French President Nicolas Sarkozy said they willSTI (Singapore) 2,668 2,640 1.06 deliver a plan to recapitalize European banks and address the Greek debt crisis by Nov 3. The S&P 500 jumped 3.4 percent and the Dow Jones Industrial Average added 330 points to 11,433 (rebounded 8.7MSCI Emerging Market 342 335 2.09 percent since Oct 3, the most over the same amount of time since March 2009).MSCI Frontier Market 474 473 0.11 Asian markets have started trade on a very positive note as Nikkei is up 2 percent, Hang Seng is up 3.6 percent and Strait Times is up 1.9 percent.BOND MARKETS 10-Oct 7-Oct Change10yr G-Sec Yield 8.70 8.72 (0.02) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.45 8.45 0.00 Auto major Mahindra & Mahindra launched a limited edition of its Verito sedan called VeritoLIBOR (6m) 0.21 0.21 0.00 Executive, priced in the range of Rs 5.95-7.09 lakh (ex-showroom Delhi). The new variant, targeted atLIBOR (1m) 0.16 0.16 0.00 corporate professionals or businessmen, will be available in two colours - pearl white and walnutInterbank Call rate 8.03 8.03 0.00 brown, the company said in a statement. US-based coffee retail giant Starbucks said it expects to soon announce a roadmap for its entry into India, as talks with Tata Coffee for a potential alliance are moving forward. BSE Turnover Rs Cr(000) Sensex 16800 3.0 Media and entertainment firm UTV Software Communications will increase its shareholding in 16600 Indiagames by acquiring additional 30.02% stake in the company for Rs 94.56 crore. "The company has 2.5 16400 entered into definitive agreements with the founder promoters and employee shareholders of 16200 2.0 Indiagames to acquire 30.02% of the fully-diluted equity shares of Indiagames for a purchase consideration of Rs 94.56 crore," UTV said in a filing to the BSE. 16000 1.5 15800 1.0 TTK Prestige, a kitchenware firm, has posted a rise of 54.6% in its net profit for the quarter ended 15600 September, 2011. The companys net profit stood at Rs 33.71 crore during the September quarter 15400 0.5 compared with Rs 21.8 crore in the corresponding quarter a year ago. The companys total income 15200 0.0 during the period under review grew to Rs 304.47 crore from Rs 200.93 crore, up 51,53%. 4-Oct 5-Oct 6-Oct 7-Oct 10-Oct State-owned BHEL said it has bagged over Rs 4,000 crore contract for setting up a thermal power plant in Andhra Pradesh from Singareni Collieries Company. NSE Turnover Rs Cr(000) Nifty Reliance Industries, Indias largest listed firm, is set to sign a deal with the Indian unit of Walt Disney, to 5050 14 acquire content for its telecom operations, a financial daily said. The deal by Reliance with UTV 5000 12 Software, in which Disney controls 50.44%, is expected to be completed in the coming weeks. 4950 4900 10 88.38 #DIV/0! Vijay Mallya-promoted United Breweries (Holdings) has pledged nearly 86% of its shares in group 4850 8 company Mangalore Chemicals and Fertilisers (MCFL). 4800 6 4750 4 CRISIL Research, India’s largest independent research house, has lowered India’s GDP growth forecast 4700 2 for 2011-12 to 7.6% from its earlier estimate of 7.7-8.0% released in May 2011. 4650 4600 0 4-Oct 5-Oct 6-Oct 7-Oct 10-Oct
  2. 2. Oct 11, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 10-Oct 7-Oct % Change CORPORATE NEWSREALTY 1,793 1,736 3.29% The Indian automobile industry significantly lowered the passenger car sales growthCD 6,537 6,346 3.00% forecast for 2011-12 to 2-4% due to lower output at Maruti Suzuki because of labourIT 5,398 5,241 2.99% issues, and higher lending rates. The Society of Indian Automobile Manufacturers (SIAM)OIL&GAS 8,692 8,451 2.85% had earlier revised the sales forecast for FY 2012 downwards for the passenger cars at 10-TECk 3,285 3,195 2.81% 12% in July against 16-18% announced at the beginning of the fiscal.AUTO 8,686 8,488 2.34% Ratings agency Credit Analysis and Research (CARE) has filed initial papers with theMETAL 11,128 10,910 2.00% stock market regulator for an initial public offer (IPO) of 7.2 million shares, or 25 per centPOWER 2,142 2,101 1.95% of equity, by its shareholders. CARE shareholders including State Bank of India, IDBIBANKEX 10,516 10,348 1.63% Bank, Canara Bank and Federal Bank, among others, will offload part of their stake in thePSU 7,415 7,305 1.51% company, according to the paper filed with the regulator last week. The filing did not sayCG 10,906 10,823 0.77% how much the IPO would raise but according to a report, CARE would raise Rs 500 croreFMCG 3,925 3,900 0.64% ($102 million) from the share sale. CARE will not receive any proceeds from the offer andHC 5,842 5,845 -0.05% all the funds will go to the selling shareholders. The consumer products arm of the Bangalore-based Wipro Ltd plans to relaunch Aramusk, one of the oldest male deodorant soaps, which it had acquired from Mumbai- based contract manufacturer VVF Ltd in June. Apparel firm Provogue India said one of its promoters, Nikhil Chatturvedi, has pledgedBSE Upper Circuit Breakers 24 lakh shares of the company. In a filing to the BSE, the company said Chatturvedi hasCompany Name 10-Oct 7-Oct % Change pledged 24,00,000 shares on September 23, 2011.CREST ANIMATION STUDIOS 40 33 20.00JINDAL CAPITAL 12.9 11.7 10.00 State-owned Oil and Natural Gas Corp (ONGC) has said its net profit will drop by overRegency Trust 59.9 57.1 5.00 47% to below Rs 10,000 crore this fiscal if the government forces it to shell out a higher fuel subsidy. Upstream oil firms, led by ONGC, traditionally bear one-third of the actualSir Shadi Lal 57.8 55.0 5.00 0 revenue that retailers lose on selling diesel, LPG and kerosene at government-controlledVenkat Pharma 3.2 3.0 5.00 prices. The countrys largest car-maker Maruti Suzuki India said the production at its plant in Gurgaon has been impacted due to strike at Suzuki Powertrain India Ltd (SPIL), which supplies engines to MSI. The production loss is estimated to be around 1,000 vehicles a day at the plant due to the ongoing labour unrest.BSE Lower Circuit Breakers 10-Oct 7-Oct % Change More than 300,000 workers at state-run Coal India, the worlds largest coal miner, haveCompany Name gone on a one-day strike demanding higher annual bonus, senior company and unionIndustrial Invest 149.60 157 (5.00) officials said on Monday.INTEGRA IND 169.6 178.5 (5.00)KEMISTAR 28.6 30.1 (5.00) Indias auto major Mahindra & Mahindra has said that its Rudrapur plant in UttarakhandLOHIA SECURI 128.6 135.3 (5.00) has resumed operations after the curfew imposed by state authorities was relaxed.Shree Metalloys 28.6 30.1 (5.00) Amid high interest rates hurting buyers sentiment, real estate major Ansal Properties and Infrastructures sales almost halved to Rs 349 crore for the quarter ended September. In a communique to the investors, the company said it had sold area worth Rs 692 crore in the corresponding quarter last fiscal. The total area sold by company also dipped to 2.64 mn sq ft compared to 7.99 mn sq ft in the July-September period of the last fiscal. However, Ansal Properties and Infrastructure said that average realisation increased by 53% to Rs 1,326/sq ft from Rs 866/sq ft in the second quarter of last fiscal.COMMODITY 10-Oct 7-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 109 106 2.76Gold (Rs/10gm) 26,655 26,300 1.35 Brent Crude Oil ended up by 2.76% at $109 per barrel. Gold ended higher by 1.35% at Rs 26,655 and Silver closed up by 1.61% at Rs 53,038.Silver (Rs/kg) 53,038 52,199 1.61CURRENCY 10-Oct 7-Oct % Change The Indian Rupee closed higher against the dollar at Rs 48.97 as the Indian equityINR / USD 48.97 49.15 (0.37) benchmarks ended on a very positive note.USD / Euro 1.36 1.34 1.49Yen / USD 76.64 76.65 (0.01)
  3. 3. Oct 11, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSJSWISPAT 13.1 13.3 1.15 Belgian bank KBC announced a deal to sell Luxembourg unit KBL to a Qatar investmentTECHM 573.7 579.7 1.05 group for 1.05 billion euros (or $1.41 billion), finding a new buyer after a deal withINDIAINFO 72.4 73.2 1.04 Indias Hinduja group fell through.APIL 528.2 533.7 1.04MPHASIS 331.5 334.9 1.01 Car sales in India fell 1.8% in September, an industry body said on Monday, as risingGLAXO 2,079.0 2,099.9 1.00 interest rates and vehicle costs hurt demand in the worlds second-fastest growing autoDJIA 11,355.0 11,020.0 (2.95) market after China. Indias automakers sold 165,925 cars in September, according toS&P500 1,184.5 1,154.3 (2.55) data released by the Society of Indian Automobile Manufacturers (SIAM). Sales of trucksSUNTV 288.0 283.0 (1.74) and buses, a key pointer to the countrys economic activity, rose 18.05% to 70,634 inBAJAJHIND 37.7 37.3 (0.93) September, SIAM said. Demand for cars had shrank in July for the first time in nearly three years.ABAN 368.3 365.0 (0.88)TATASTEEL 435.0 431.3 (0.86) Consumers will not have to pay roaming charges and mobile number portability will be available nationwide under a new telecom policy draft released by communicationsINSTITUTIONAL ACTIVITY (Rs Cr) 28-Sep 27-Sep YTD minister Kapil Sibal on Monday. A single licence will do across all the 22 service areas inFII Cash Net 251.8 88.8 (2,717) the country. The policy will allow mobile operators to share, pool and trade spectrum.FII Stock Futures 585.33 16.92 6,615 Spectrum will, in fact, be delinked from licences in future and priced at market value.FII Index Futures -58.05 1255.82 15,465Mutual Fund -156.9 194.5 (225) Prime Minister Manmohan Singh on Monday accepted the Maira committee’s recommendations and decided the Competition Commission of India (CCI) wouldVALUATIONS P/E P/B DIV YLD scrutinise all mergers and acquisitions (M&As) in the domestic pharmaceutical sector.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 %Tata Motors 170.55 7.40 Amtek Auto 131.4 12.69 Uttam Galva 76.8 14.81Tata Power 103.7 5.44 Educomp Sol 277.7 8.99 Hindustan Dorr 39.9 11.31DLF 228.8 4.74 Rajesh Exports 130.4 8.80 Tata Coffee 890.4 10.89Wipro 348.55 4.42 VST Inds 1360.0 8.62 GEI Indl 137.0 9.91Sterlite Inds 117.4 3.48 Religare Enter 446.8 8.18 Lovable Lingerie 467.4 8.58TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Maruti Suzuki 1073.2 -3.58 Shri Ganesh Spi 9.1 -4.90 Karuturi Glob 5.9 -11.30Sun Pharma 462.95 -1.38 Anant Raj Inds 51.6 -4.89 KIRL INDUS 271.7 -7.87Jindal Steel 475.35 -1.37 Network18 Media 62.7 -3.98 Zenith Info 140.1 -6.94Cipla 282.85 -0.82 Voltas 101.8 -2.82 AP Paper 166.4 -5.00L&T 1386.3 -0.51 ALLCARGO 139.0 -2.42 Prraneta Inds 9.4 -4.96 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