Daily Newsletter - October 13, 2011


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Daily Newsletter - October 13, 2011

  1. 1. Oct 13, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 12-Oct 11-Oct % Change COMMENTARYBSE Sensex 16,958 16,536 2.55 INDIANSE Nifty 5,099 4,975 2.51 A highly eventful day ended with splendid gains amid all round buying in scrips across the board. The rallyBSE Midcap 6,154 6,070 1.40 was led by IT stocks after Infosys announced strong Q2 earnings on the back of comprehensive marginBSE Smallcap 6,882 6,802 1.18 improvement and also came out with better than expected guidance. The Nifty had opened on an upbeatNifty Junior 9,869 9,703 1.71 note after Infosys results were slightly better than expected. The index received a jolt in afternoon tradesCNX Midcap 7,111 6,998 1.62 following IIP data at 4.1% for August (versus 4.5% in the same period a year earlier) against market consensus estimate of 4.7-4.8%. However, heavy buying in IT shares and recovery in European markets helped the Nifty scale a high of 5,110 and end near the day’s high. The Nifty closed at 5,099, up 125 points and Sensex endedGLOBAL MARKETS 12-Oct 11-Oct % Change at 16,958, up 422 points, closing near day’s high, with the Sensex coming very close to hitting the 17,000Dow Jones Ind (USA) 11,519 11,416 0.90 milestone. Technically, the NSE Nifty ended above the 50DMA. In addition, the index also managed to close the declining gap, indicating strength in the current rally. The market breadth was positive; 1,846 stocksNasdaq Composite(USA) 2,605 2,583 0.84 advanced for 974 declines.S&P 500 (USA) 1,207 1,196 0.98 GLOBAL MARKETSFTSE 100 (UK) 5,442 5,396 0.86 U.S stocks climbed, briefly erasing the Dow Jones Industrial Average’s 2011 loss, while commodities gainedDAX (Germany) 5,994 5,865 2.21 as European leaders provided a road map of plans to tame the debt crisis and the Federal Reserve said itNikkei 225 (Tokyo) 8,739 8,774 (0.40) discussed further asset purchases to boost growth. The Shanghai Composite Index rallied 3 percent, itsHang Seng (Hong Kong) 18,329 18,142 1.03 biggest gain in a year, amid speculation that China will boost support for the equity market after valuationsShanghai Comp (China) 2,420 2,349 3.04 dropped to record-low levels. Australia’s dollar climbed to a three-week high after the unemployment rateKOSPI (South Korea) 1,810 1,795 0.80 fell for the first time since March. The Dow rose 102 points, or 0.9 percent, to 11,518 and climbed as high asSTI (Singapore) 2,738 2,693 1.66 11,625, briefly wiping out a 2011 drop that reached 8 percent last week. The S&P 500 gained 1 percent to 1,207, its highest close in almost a month, and indexes in France, Germany and Italy surged at least 2.2MSCI Emerging Market 352 350 0.57 percent.MSCI Frontier Market 477 476 0.28 Asian stocks are trading positive following cues emerging out of Eurozone and US Fed. Nikkei is up 1.1 percent, Hang Seng and Kospi are up 0.8 percent each.BOND MARKETS 12-Oct 11-Oct Change10yr G-Sec Yield 8.71 8.70 0.01 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.51 8.51 0.00 Indias industrial production grew at a lower-than-expected pace in August, adding pressure on theLIBOR (6m) 0.21 0.21 0.00 central bank to pause its aggressive monetary tightening when it meets later this month. The factoryLIBOR (1m) 0.16 0.16 0.00 output, as measured by the index of industrial production (IIP), grew by a modest 4.1% in August versusInterbank Call rate 8.32 8.29 0.03 4.5% in the same period a year earlier, data released by the Commerce Ministry showed today. The reading was lower than the consensus estimate of 4.7-4.8%. ONGC Videsh Limited (OVL) and Vietnam Oil and Gas Group (PetroVietnam), National Oil Company BSE Turnover Rs Cr(000) Sensex (NOC) of Socialist Republic of Vietnam signed an agreement of cooperation on October 12, in the 17500 3.0 presence of visiting President of Socialist Republic of Vietnam, H.E. Mr. Truong Tan Sang and the Prime Minister of India, Dr. Manmohan Singh, in New Delhi. 17000 2.5 2.0 Ashok Leyland is planning to increase the prices of its commercial vehicles across models by 1 per cent 16500 within a month, according to a report. The report stated that the company expects 5-7% growth in 1.5 16000 domestic sales this year. During April-September, the company’s domestic sales stood at 37,136 1.0 units, down 10.94% vis-a-vis the year-ago period, says report. 15500 0.5 Gravita India Ltd has entered into Joint Venture with Best Group of Saudi Arabia for setting up a 15000 0.0 manufacturing unit of Lead and Lead Alloys in Saudi Arabia. 6-Oct 7-Oct 10-Oct 11-Oct 12-Oct Real estate group Unitech has offered to buy Norwegian partner Telenors 67.25% stake in their mobile joint venture Uninor for Rs. 2.69bn,according to a report. The report stated that the Delhi-based groups offer was made in a petition before the Company Law Board in which it accused Telenor and its NSE Turnover Rs Cr(000) Nifty executives of oppressive and mala-fide actions. Earlier report stated that the Norwegian company 5200 13 valued its India telecom venture at Rs. 28 per share, pegging Uninors value, excluding debt, at Rs. 4bn. 5100 12 Telenor had acquired its stake in Uninor, earlier called Unitech Wireless, in 2009. 5000 12 88.38 #DIV/0! IT services firm Ness Technologies said an affiliate of Citi Venture Capital International (CVCI), a private 4900 11 equity fund, has completed the process of acquiring it in a deal valued at $307 million (approximately Rs 4800 11 1,500 crore). 4700 10 4600 10 State-run Steel Authority of India Ltd (SAIL) is likely to sign a joint venture agreement with South Korean steel major Posco for setting up a factory in Bokaro, Steel Minister Beni Prasad Verma said on 4500 9 Wednesday. 6-Oct 7-Oct 10-Oct 11-Oct 12-Oct
  2. 2. Oct 13, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 12-Oct 11-Oct % Change CORPORATE NEWSIT 5,518 5,245 5.21% Shares of Infosys Ltd. climbed on Wednesday after the IT major reported better-than-TECk 3,356 3,233 3.83% expected Q2 FY12 revenues and EPS while also raising its full-year revenue and EPSBANKEX 10,865 10,510 3.38% guidance. Also, the company has projected a 9-11% rise in its Q3 FY12 revenues in IndianREALTY 1,844 1,791 2.97% currency terms. Full-year dollar EPS guidance has also been upped. But, FY12 dollarCG 11,229 10,961 2.44% revenue growth has been trimmed by a percent.METAL 11,477 11,221 2.28% JSW Steel has slightly increased production levels from its 10 million tonnes per annumCD 6,735 6,598 2.07% Vijayanagar steel plant in Karnataka to 35-40% of capacity after the company securedOIL&GAS 8,799 8,633 1.93% over 1.8 million tonnes of iron ore through a recent auction of the raw material.FMCG 3,973 3,905 1.75%AUTO 8,894 8,755 1.59% NEC India, a network and IT solutions provider, has entered into a strategic alliance withPOWER 2,184 2,155 1.37% Trimax IT Infrastructure & Services to explore opportunities in delivering SaaSPSU 7,539 7,450 1.20% services using an integrated application aggregation platform.HC 5,933 5,871 1.06% Diversified group Max India said it had shelved a plan to raise funds through a rights issue by its arm Max Healthcare Institute after selling 26% stake in it for Rs 516.5 crore to South Africas Life Healthcare Group. Max India Director Corporate Development Mohit Talwar said that prior to the stake sale, Max Healthcare Institute (MHIL) was mulling a rights issue.BSE Upper Circuit Breakers The Ruias-led Essar Ports targets to more than double its cargo handling to 125 millionCompany Name 12-Oct 11-Oct % Change tonne by 2015, a top executive said yesterday.LLOYDS METALS AND ENERGY 30 25 20.00DEN NETWORK 81.4 74.0 10.00 L&T General Insurance, a wholly-owned subsidiary of engineering construction majorFARMAX IND 2.9 2.6 10.00 Larsen & Toubro (L&T), will see a capital infusion around Rs 500 crore from its parent over next three to four years.Agarwal Hold 110.3 105.0 5.00 0Almondz Cap 12.6 12.0 5.00 Idea Cellular yesterday opposed the Rs 50 crore penalty imposed on it by the government for allegedly suppressing actual customer database and contended that it was not given a chance to place facts before the Department of Telecommunications (DoT). Dunlop India will discuss the suspension of work at Sahaganj facility and the West BengalBSE Lower Circuit Breakers governments call to reopen the plant, on October 21, a company official said.Company Name 12-Oct 11-Oct % Change With just 17 days to go for the inaugural Indian Grand Prix, Sahara Group on WednesdayBinayak Tex 541.45 570 (5.00) bought a 42.5 per cent stake, worth $100 million, in Vijay Mallya’s Force India F1 team.KEN Fin Serv 83.8 88.2 (5.00)Lynx Machinery 116.1 122.2 (5.00) Bharti Walmart Private Limited, a joint venture between Bharti Enterprises and WalmartMarathwada Refrac 305.7 321.7 (5.00) has tied up with 200 farmers in Maharashtra to supply fruits, vegetables and other agroPriyadarshini Spn 37.2 39.1 (5.00) products. Also, the company has plans to train over 35,000 farmers across India in the next five years. Moser Baer Clean Energy Limited (MBCEL) has set up Asia’s largest solar farm having power generation capacities of 30 Mw in Banaskantha district of Gujarat and the inauguration for the project is scheduled on October 14, 2011 at the hands of Gujarat chief minister Narendra Modi. Cera Sanitaryware Ltd, the third largest sanitaryware maker in India, is in talks with a number of companies to acquire a brand and a factory in Italy.COMMODITY 12-Oct 11-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 112 110 1.56Gold (Rs/10gm) 26,842 26,687 0.58 Brent Crude Oil ended up by 1.56% at USD 112 per barrel. Gold ended higher by 0.58% at Rs 26,842 and Silver closed up by 0.74% at Rs 53,792.Silver (Rs/kg) 53,792 53,395 0.74CURRENCY 12-Oct 11-Oct % Change The Indian Rupee closed higher against the dollar at Rs 48.95 as the Indian equityINR / USD 48.95 49.33 (0.77) benchmarks ended on a very positive note.USD / Euro 1.37 1.36 0.74Yen / USD 76.94 76.65 0.38
  3. 3. Oct 13, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSOIL 1,300.0 1,317.0 1.31 Indias merchandise exports in September grew by 36.3% to US$24.8bn while imports inTULIP 154.5 156.4 1.23 the same month were up 17.2% at US$34.6bn, the Union Commerce & IndustryJINDALSWHL 563.0 569.6 1.16 Secretary Rahul Khullar said on Wednesday. As a result, the trade gap in SeptemberMAX 179.3 181.2 1.06 stood at US$9.8bn. Exports during the April-September 2011 period stood at US$160bnGITANJALI 379.2 383.0 1.02 while imports in the same period were at US$233.5bn, Khullar said today. Trade deficitMPHASIS 337.7 341.0 0.96 for the first six months of the current fiscal year stood at US$73.5bn, he said. TheABAN 408.2 395.3 (3.17) Commerce Secretary clarified that the figures are only the rough estimates and the finalFEDERALBNK 385.0 378.3 (1.74) figures are subject to change.TATAMOTORS 186.0 182.8 (1.72)MOSERBAER 22.1 21.8 (1.36) The Indian Space Research Organisations (ISRO) PSLV rocket on Wednesday successfully launched into orbit four satellites, including a Indo-French tropical weatherIDEA 95.0 93.9 (1.16) satellite. The PSLV-C18 blasted off from the Sriharikota spaceport on the east coast atDLF 237.5 235.0 (1.03) 11.00 am. The rocket placed into orbit the 1,000-kg Megha Tropiques and three smaller satellites together weighing 42.6 kg. After around 22 minutes, the PSLV rocket firstINSTITUTIONAL ACTIVITY (Rs Cr) 4-Oct 3-Oct YTD removed Megha-Tropiques and then SRMSAT, VesselSat and Jugnu. The entire processFII Cash Net -966.2 -782.4 (1,946) took 25 minutes from blast-off.FII Stock Futures -271 -179.03 6,441FII Index Futures -589.16 -471.06 13,832Mutual Fund -95.2 -233 153VALUATIONS P/E P/B DIV YLDBSE 17.7 3.2 1.6NSE 17.6 3.1 1.6BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Infosys 2680.5 6.83 Prestige Estates 101.2 10.90 Lloyds Metals 30.0 20.00Jindal Steel 517.95 6.08 JUBL FOOD 901.1 9.58 Om Metals 34.2 16.92SBI 1872.25 6.07 Gruh Finance 560.3 9.23 DEN NETWORK 81.4 10.00TCS 1079.35 3.66 HATHWAY CAB 92.3 8.53 Dynamatic Tech 1100.0 9.47Sterlite Inds 119.95 3.63 Mindtree 368.2 7.90 Gravita India 482.4 9.21TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Coal India 339.0 -1.71 Shri Ganesh Spi 8.2 -4.96 Camlin-$ 49.9 -11.52Tata Power 101.25 -1.56 Jyothy Lab 140.5 -3.40 Zenith Info 103.6 -9.96BHARTI AIRTEL 374.05 -0.2 CMC 750.0 -3.19 KSERASERA 5.6 -4.96- - - Madras Cements 97.4 -2.36 Clarus Finance 63.4 -4.95- - - MOIL 256.9 -2.25 Empower India 1.7 -4.95 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