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Daily Newsletter - October 14, 2011
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Daily Newsletter - October 14, 2011


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  • 1. Oct 14, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 13-Oct 12-Oct % Change COMMENTARYBSE Sensex 16,884 16,958 (0.44) INDIANSE Nifty 5,078 5,099 (0.42) Indian stock indices ended near days low on Thursday after a choppy session, on the back of someBSE Midcap 6,156 6,154 0.03 offloading seen in Auto, Capital Goods and Pharma stocks. Earlier in the day, the Sensex fluctuated betweenBSE Smallcap 6,886 6,882 0.06 gains and losses. After opening in the green, the markets turned choppy on intraday basis before slidingNifty Junior 9,894 9,869 0.25 towards the close of trade, indicating that every rally is being used by traders to lighten their positions. TheCNX Midcap 7,106 7,111 (0.07) index touched a high of 17,084 in the morning session following positive cues from Asia; however, the index received a fresh jolt and touched a low of 16,865 after European markets reversed gains. Among macro data, Indias food inflation for the week ended October 1 declined marginally to 9.32 per cent against 9.41GLOBAL MARKETS 13-Oct 12-Oct % Change per cent a week ago. The street now awaits Fridays WPI inflation data for cues on Reserve Bank of IndiasDow Jones Ind (USA) 11,478 11,519 (0.35) policy action on interest rates later this month. The BSE Sensex was unable to sustain 17,000 levels and closed at 16,884, down 75 points. The Nifty ended at 5,077, down 22 points. The overall breadth wasNasdaq Composite(USA) 2,620 2,605 0.60 negative as 1,403 stocks declined for 1,379 stocks which advanced on the BSE.S&P 500 (USA) 1,204 1,207 (0.30)FTSE 100 (UK) 5,403 5,442 (0.71) GLOBAL MARKETSDAX (Germany) 5,915 5,994 (1.33) US stocks fell on Thursday as earnings from JPMorgan and soft economic data in China reinforced worriesNikkei 225 (Tokyo) 8,824 8,739 0.97 about a slowing global economy, giving investors reason to pause after the recent run-up. Chinas tradeHang Seng (Hong Kong) 18,758 18,329 2.34 surplus, in a reflection of global economic weakness and domestic cooling, narrowed for a second straightShanghai Comp (China) 2,439 2,420 0.78 month in September as both imports and exports were lower than expected. DJIA closed at 11,478, downKOSPI (South Korea) 1,823 1,810 0.75 0.35 percent and S&P closed at 1,204, down 0.3 percent.STI (Singapore) 2,734 2,738 (0.14)MSCI Emerging Market 358 352 1.70 Asian stocks have fallen, after credit- rating downgrades of Spain and European banks fueled concern the region’s debt crisis will hurt Asian economies and earnings. Nikkei is down 0.7 percent, Hang Seng is downMSCI Frontier Market 480 477 0.56 1.4 percent and Shanghai is down 0.6 percent while Strait Times is trading flat.BOND MARKETS 13-Oct 12-Oct Change10yr G-Sec Yield 8.71 8.71 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.51 8.51 0.00 Food inflation declined marginally, but was still high at 9.32% for the week ended October 1 as pricesLIBOR (6m) 0.21 0.21 0.00 of major kitchen staples continued to pinch consumers pockets. Food inflation, as measured on theLIBOR (1m) 0.16 0.16 0.00 basis of the Wholesale Price Index (WPI), stood at 9.41% in the previous week. The rate of price rise inInterbank Call rate 8.32 8.32 0.00 food items stood at 17.14% in the corresponding week of 2010. The government yesterday decided to hike Infrastructure Finance Company Ltd (IIFCLs) authorised capital to Rs 5,000 crore for enabling it to lend more to the infrastructure sector, funding need for which BSE Turnover Rs Cr(000) Sensex has been pegged at $1 trillion during the next Plan Period (2012-17). A provision has also been made to 17200 3.0 increase it to Rs 8,000 crore, subject to the approval of the Finance Minister, said Information and 17000 Broadcasting Minister Ambika Soni, briefing the media after the Cabinet meeting. 2.5 16800 2.0 Wind power major Suzlon Energy informed the BSE that it has completed the sale of its entire 16600 shareholding in Hansen Transmissions to ZF Friedrichshafen AG for Rs 890 crore. Suzlon held a 26.06% 1.5 16400 stake in Hansen Transmission through its Netherlands-based subsidiary, AE-Rotor Holding BV. 16200 1.0 0.5 Infosys Ltd, Indias second-largest software services exporter, said on Thursday it was not in talks to 16000 acquire the healthcare business of Thomson Reuters Corp. 15800 0.0 7-Oct 10-Oct 11-Oct 12-Oct 13-Oct The strike by workers at Maruti Suzuki Indias Manesar plant entered its seventh day, with no sign of an end despite the Haryana government declaring it illegal. Tata Steel, the worlds No. 7 steelmaker, may cut production further in Europe in the next few months if NSE Turnover Rs Cr(000) Nifty steel orders weaken, Karl-Ulrich Köhler, CEO of Tata Steel in Europe said on Wednesday. 5150 13 The company had already cut production capacity from 85-90% in the first half this year to 80-85% 5100 12 currently, it said. 5050 5000 88.38 #DIV/0!12 Oil Ministry has allocated natural gas from ONGC fields to Reliance Infra, NTPC, National Fertilisers 4950 11 Ltd, according to a report. 4900 11 4850 Hindustan Petroleum Corporation Ltd (HPCL) has agreed to resume supply of aviation turbine fuel 4800 10 (ATF) to Kingfisher Airlines after late night negotiations. 4750 10 7-Oct 10-Oct 11-Oct 12-Oct 13-Oct
  • 2. Oct 14, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 13-Oct 12-Oct % Change CORPORATE NEWSBANKEX 10,978 10,865 1.04% Korean auto major Hyundai Motor Co launched entry level compact car Eon that hasIT 5,554 5,518 0.65% been developed specifically for the Indian market, at an introductory price of between RsREALTY 1,852 1,844 0.41% 2.69 lakh and Rs 3.71 lakh (ex-showroom Delhi).TECk 3,366 3,356 0.27%CD 6,695 6,735 -0.60% The government will infuse Rs 4,500 crore to Rs 800 crore ($919.7 million to $1.6 billion) of -0.62% funds in top lender State Bank of India (SBI) by March 2012, D.K. Mittal, secretary ofFMCG 3,949 3,973 financial services said on Thursday.nState-run SBI, which accounts for one quarter ofPSU 7,488 7,539 -0.68% lending in India, has been reeling under higher provisions for bad loans and lower profitsPOWER 2,168 2,184 -0.74% in the last two quarters, has since last year sought as much as Rs 20,000 crore from theMETAL 11,391 11,477 -0.75% federal government through a rights issue.OIL&GAS 8,726 8,799 -0.83%HC 5,876 5,933 -0.95% Tiles-maker Somany Ceramics said it has signed an MoU to acquire a 26% stake inCG 11,095 11,229 -1.20% Vintage Tiles.AUTO 8,763 8,894 -1.48% Shares of Hathway Cable, Den Networks and WWIL surged on Thursday after the Union Cabinet approved an ordinance for the faster digitisation of cable television distribution networks. The Cabinet Committee of Economic Affairs (CCEA) today approved an ordinance to amend Section 4A of the Cable TV Networks (Regulation) Act. Accordingly, rules to digitize broadcasting by making changes in the Cable TV Networks Act will be amended.BSE Upper Circuit BreakersCompany Name 13-Oct 12-Oct % Change Tree House Education and Accessories Limited, a unique company providing pre-Medicamen Bio 33 30 10.00 school and K-12 educational services in India and operating the largest number of self-Sanraa Media 0.1 0.1 10.00 operated pre-schools in the country, is now included in the BSE Small Cap Index post theFame India 46.3 42.1 10.00 latest quarterly review.Polycon Intl 11.1 10.1 10.00 0 Kajaria Ceramics reported Q2FY12 numbers where its net profit rose 41.89% to Rs. 18.90Kaira Can 294.1 280.1 5.00 crore on 42.6% rise in net sales to Rs. 316.39 crore in Q2 September 2011 over Q2 September 2010. The Income-Tax Department has raided the premises of Pipavav Shipyard in Mumbai Gujarat and Delhi, according to a report. The report stated that Pipavav has been in the news for a controversial joint venture with state owned Mazgaon Docks for constructionBSE Lower Circuit Breakers of vessels for the Navy. The management is providing all necessary information andCompany Name 13-Oct 12-Oct % Change cooperating with the officers SKIL has reportedly said that during the searches, officials recovered Rs. 24 lakh in cash from the Malad office of one of the company associates.ZENITH INFOTECH 93.2 103.6 (10.00)Binayak Tex 514.4 541.5 (5.00) VST Industries reported its Q2FY12 numbers where its net profit rose 39.9% to Rs. 33.59Phyto Chem 10.3 10.8 (5.00) crore on 5.9% rise in net sales to Rs. 165.35 crore in Q2 September 2011 over Q2Scindia Steam 9.7 10.2 (5.00) September 2010.Bhilwara Spin 7.8 8.2 (5.00) Western India Shipyard announced that it has secured five ship repair orders aggregating Rs. 30 crore. Heavy engineering and manufacturing firm Promac Engineering Industries has bagged three export orders valued at more than $220 million, a top company official reported. Kumar Mangalam Birla seems to have finally agreed to go ahead with the long-awaited merger of the cement business of Century Textiles, owned by his grandfather B K Birla, with UltraTech.COMMODITY 13-Oct 12-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 110 112 (1.65)Gold (Rs/10gm) 26,675 26,842 (0.62) Brent Crude Oil ended lower by 1.65% at USD$110 per barrel. Gold ended lower by 0.62% at Rs 26,675 and Silver closed down by 2.26% at Rs 52,574.Silver (Rs/kg) 52,574 53,792 (2.26)CURRENCY 13-Oct 12-Oct % Change The Indian Rupee closed lower against the dollar at Rs 49.13 as the Indian equityINR / USD 49.13 48.95 0.37 benchmarks ended on a negative note.USD / Euro 1.37 1.37 -Yen / USD 76.85 76.94 (0.12)
  • 3. Oct 14, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSS&P500 1,184.5 1,202.0 1.48 Volvo Buses will invest Rs. 4bn over a period of five years in India. The company hopesGLAXO 2,051.1 2,077.0 1.27 to have a revenue of $1 billion revenues, according to reports. The company plans toOIL 1,305.2 1,320.8 1.20 set up a new factory soon and hopes to sell 5,000 buses every year from 2015, addedFSL 11.2 11.3 0.90 reports.WELCORP 116.7 117.7 0.86GTOFFSHORE 117.1 118.0 0.77 The Reserve Bank of India (RBI) has opposed the creation of a $20 billion sovereignABAN 400.0 382.1 (4.49) wealth fund, for acquisition of energy assets overseas, out of foreign exchange reservesMOSERBAER 22.2 21.8 (2.03) and wants the government to create the corpus for it from the Budget. A Group ofDLF 238.6 235.6 (1.26) Ministers headed by Finance Minister Pranab Mukherjee yesterday deliberated on theTATASTEEL 452.4 447.4 (1.12) possible ways of creating a fund on the lines of ones that exit in countries like China.IDEA 93.0 92.0 (1.08) Global shipments of personal computers grew by 3.2% to 91.8 million during the thirdINDUSINDBK 263.6 260.7 (1.08) quarter of the 2011 calendar year, according to market research firm Gartner. These results are slightly lower than the IT research and advisory firms projection of 5.1%INSTITUTIONAL ACTIVITY (Rs Cr) 5-Oct 4-Oct YTD growth in the quarter.FII Cash Net -969.3 -966.2 (1,763)FII Stock Futures -137.75 -271 8,229FII Index Futures 74.53 -589.16 13,907Mutual Fund 103.7 -95.2 498VALUATIONS 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 %ICICI Bank 879 2.22 HATHWAY CAB 101.8 10.30 Wire & Wireless 8.5 19.92Tata Steel 451.2 1.63 Zydus Wellness 584.0 7.18 Venkys India 472.7 14.77TCS 1090.8 1.06 Hotel Leela 39.2 6.53 Welspun Projects 40.2 11.98DLF 238.7 0.89 Himadri Chem 52.0 6.23 Kingfisher Air 23.3 11.78SBI 1886.9 0.79 Blue Star 230.5 5.04 EDSERV SOFT 95.1 8.56TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Jindal Steel 500.1 -3.45 Shri Ganesh Spi 7.8 -4.98 Zenith Info 93.2 -10.00Tata Motors 175.75 -3.09 Kwality Dairy 179.1 -4.81 Camlin 45.7 -8.52Hindalco Inds 128.85 -3.01 India Sec 57.0 -4.60 Om Metals 31.4 -8.33Maruti Suzuki 1056.4 -2.71 MVL 22.8 -4.60 KGN Inds 21.0 -4.98Tata Power 98.75 -2.47 Pantaloon Retl 194.7 -4.32 Clarus Finance 60.3 -4.97 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