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Daily Newsletter - October 17, 2011

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  • 1. Oct 17, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 14-Oct 13-Oct % Change COMMENTARYBSE Sensex 17,083 16,884 1.18 INDIANSE Nifty 5,132 5,078 1.07 Markets ended on a firm note following recovery in the European markets and buying in indexBSE Midcap 6,190 6,156 0.55 heavyweights- Reliance Industries and TCS, ahead of second quarter results. The Sensex closed at 17,083, upBSE Smallcap 6,908 6,886 0.31 199 points, and the Nifty ended at 5,132, up 54 points. Earlier in the day, the Sensex opened on a subduedNifty Junior 9,895 9,894 0.01 note and touched a low of 16,828 in the morning session, tracking weak Asian peers after S&P downgradedCNX Midcap 7,136 7,106 0.42 Spain. The index changed tracks around noon and reclaimed 17,000 and touched a high of 17,112 during the last leg of the trade, following gains in Europe. For the week, the Nifty and Sensex advanced 5% each. From the broader markets, the midcap and the smallcap indices were up 0.6% and 0.3% each.GLOBAL MARKETS 14-Oct 13-Oct % Change Market breadth was positive as 1,425 stocks advanced, for 1,330 declining shares on the BSE.Dow Jones Ind (USA) 11,644 11,478 1.45 GLOBAL MARKETSNasdaq Composite(USA) 2,668 2,620 1.82 U.S. stocks rose, driving the Standard & Poor’s 500 Index to the largest weekly gain since July 2009, amidS&P 500 (USA) 1,224 1,204 1.71 optimism over corporate earnings and steps by European leaders to support the region’s banks. CaterpillarFTSE 100 (UK) 5,466 5,403 1.17 Inc. (CAT), Walt Disney Co. (DIS) and DuPont Co. jumped at least 7.6 percent to lead the Dow Jones IndustrialDAX (Germany) 5,967 5,915 0.89 Average, which rallied a third straight week, the longest stretch since April, and erased its 2011 loss. AddingNikkei 225 (Tokyo) 8,748 8,824 (0.86) to the positive tone on Friday, US Commerce Department data showed September retail sales rose 1.1% fromHang Seng (Hong Kong) 18,501 18,758 (1.37) a month earlier, beating the median forecast in a Reuters poll for a 0.7% rise. Sales growth during August wasShanghai Comp (China) 2,432 2,439 (0.29) revised upward to 0.3%.KOSPI (South Korea) 1,835 1,823 0.67STI (Singapore) 2,744 2,734 0.37 Asian stocks have risen, extending the biggest weekly gain since March on the region’s benchmarkMSCI Emerging Market 361 358 0.84 index, after Group of 20 finance chiefs meeting in Paris endorsed parts of a plan to contain Europe’s debt crisis. Nikkei is up 1.5 percent, Hang Seng is up 1.9 percent and Strait Times is up 0.8 percent.MSCI Frontier Market 479 480 (0.21)BOND MARKETS 14-Oct 13-Oct Change10yr G-Sec Yield 8.77 8.71 0.06 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.51 8.51 0.00 Reliance Industries Ltd has posted a net profit of Rs. 57,030mn for the quarter ended SeptemberLIBOR (6m) 0.21 0.21 0.00 30, 2011 as compared to Rs. 49,230mn for the quarter ended September 30, 2010. Total Income hasLIBOR (1m) 0.15 0.16 (0.01) increased from Rs. 581,510 mn for the quarter ended September 30, 2010 to Rs. 796,710 mn for theInterbank Call rate 8.29 8.32 (0.03) quarter ended September 30, 2011. Net Profit for H1FY12increased by 16.3% to Rs113.64bn ($ 2.3 bn). Gross Refining Margin at $ 10.1/bbl for the quarter and $ 10.2/bbl for the half year ended 30th September 2011 BSE Turnover Rs Cr(000) Sensex Indias annual inflation decreased in September from the previous month, data released by the 17200 3.0 Government showed on Friday. Inflation, as measured by the wholesale price index (WPI), fell to 9.72% 17100 in September from 9.78% in August, the Union Commerce & Industry Minister said. Average expectation 17000 2.5 was for inflation to ease to 9.7%. Forecasts from economists ranged from 9.2% to 9.9%. 16900 2.0 16800 Tata Steel has registered robust performance in the second quarter and first half of FY12. The company 16700 1.5 16600 sold 1.65 million metric tons of the alloy in the second quarter,compared with 1.66 million tons a year 16500 1.0 earlier. Sales were 3.24 million tons in the April-September period. 16400 0.5 16300 The Tata Motors Group global wholesales, including Jaguar Land Rover, were 107,258 nos., in 16200 0.0 September 2011, higher by 24% over September 2010. Cumulative sales for the fiscal are 546,645 higher 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct by 6% compared to the corresponding period in 2010-11. The Union Ministry of Environment and Forests (MoEF) has declined to approve the first phase of the $31 bn Lavasa township, according to a report. The report stated that final decision on the NSE Turnover Rs Cr(000) Nifty environmental clearance cannot be taken till all the pre-conditions are met including credible action by 5150 13 the state government of Maharashtra. Lavasa spokesman has said that they are disappointed with the 5100 12 MoEFs order. 5050 88.38 #DIV/0!12 State-owned IDBI Bank reported that it would raise around $1 billion (about Rs 5,000 crore) over the 5000 11 next 12 months through bonds from overseas. The raising of funds would be done under Medium-Term Note (MTN) programme and they will be utilised to expand overseas operations through its Dubai 4950 11 branch.The bank board had given approval for $1.5 billion MTN programme. Last year, the bank raised 4900 10 $350 million via bond with a maturity of 5.5 years. 4850 10 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct
  • 2. Oct 17, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 14-Oct 13-Oct % Change CORPORATE NEWSIT 5,699 5,554 2.61% Rural Electrification Corp (REC) is awaiting the response of the finance ministry on itsTECk 3,453 3,366 2.61% proposal to raise $1 billion (Rs 5,000 cr) through the issue of Foreign Currency ConvertibleOIL&GAS 8,859 8,726 1.53% Bonds (FCCBs).FMCG 3,992 3,949 1.09%AUTO 8,849 8,763 0.99% IT training company NIIT said it has divested its entire stake in the US-based 0.79% subsidiary, Element K Corporation, to SkillSoft Corporation for $110 million. Element KBANKEX 11,065 10,978 provides management training services and builds content. NIIT has also signed a long-HC 5,901 5,876 0.41% term strategic and licensing agreement with SkillSoft to become a product and contentCD 6,704 6,695 0.14% developer for the Irish firm, NIIT said in a statement.POWER 2,169 2,168 0.02%PSU 7,460 7,488 -0.37% The Orissa governemnt said it was not informed about a reported proposal by the UnionCG 11,042 11,095 -0.47% Steel ministry for a joint venture between public sector SAIL and South Korean steelMETAL 11,327 11,391 -0.56% major Posco, which has failed to set up a Rs 52,000 crore mega steel plant in the state.REALTY 1,827 1,852 -1.36% Tata Group retail firm Trent said it plans to raise up to Rs 300 crore through the issue of securities, which could include equity, to fund future expansion plans. DB Hospitality, in which DB Realty recently picked up a 49% stake, is planning to raise Rs 1,000 crore by selling stake either in the hotel company or any of its three operational and eight under-construction properties, a business daily reported.BSE Upper Circuit BreakersCompany Name 14-Oct 13-Oct % Change Reliance Industrial Infrastructure, a Reliance Group firm, reported nearly 12% dip in itsHathway Cable & Datacom 122 102 20.00 second quarter net profit at Rs 5.88 crore though income from operations rose. TheMedicamen Bio 36.3 33.0 10.00 company, which is mainly engaged in the business of setting up industrialSanraa Media 0.1 0.1 10.00 infrastructure, had recorded Rs 6.67 crore net profit in the second quarter of the last fiscal, it said in a communique to the Bombay Stock Exchange (BSE).Agarwal Indl 132.8 120.8 10.00 0Shilpi Cable Tech 14.7 13.3 10.00 Off-road vehicle maker Polaris India said it was targeting revenues of $100 million by 2016 and planned to set up an assembly plant in the country within the next 4-5 years. The countrys largest insurer, Life Insurance Corporation of India (LIC), has hiked its stake in Bank of Baroda (BoB) to 7.12% from 4.67% through stock market purchase. LIC bought about 9.5 million shares for around Rs 150 crore through open marketBSE Lower Circuit Breakers deals, state-owned BoB said in a filing to the Bombay Stock Exchange (BSE).Company Name 14-Oct 13-Oct % Change Essar Power Gujarat Limited, a subsidiary of Essar Group-owned Essar Energy Plc hasBF Invest 51.3 54.0 (5.00) reinstated a 25-year long term power purchase agreement (PPA) with Gujarat Urja VikasBinayak Tex 488.7 514.4 (5.00) Nigam Limited (GUVNL) to supply 800 megawatt (Mw) of power to the state.Lynx Machinery 105.6 111.1 (5.00)Amrit Banaspati 266.3 280.3 (5.00) Power Grid Corporation of India Ltd (PGCIL), a navratna PSU has achieved 85 per centCoromandel Engr Co 269.5 283.6 (5.00) electrification in 12 districts of Orissa under the Centrally sponsored Rajeev Gandhi Grameen Vidyutikaran Yojana (RGGVY). Alliance Medicorp, a joint venture between Apollo Hospitals and Chennai-based medical technology company Trivitron Healthcare Pvt Ltd, is planning to raise around Rs 60 crore from private equity (PE) investors to fund its expansion plans. Mukesh Ambanis Reliance Industries plans to offer high-speed data services on attractively priced tablets by early next year and scale it up to a countrywide network by the middle of 2012.COMMODITY 14-Oct 13-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 113 110 2.34Gold (Rs/10gm) 26,890 26,675 0.81 Brent Crude Oil ended higher by 2.34% at USD$113 per barrel. Gold ended higher by 0.81% at Rs 26,890 and Silver closed up by 1.57% at Rs 53,399.Silver (Rs/kg) 53,399 52,574 1.57CURRENCY 14-Oct 13-Oct % Change The Indian Rupee closed higher against the dollar at Rs 49.01 as the Indian equityINR / USD 49.01 49.13 (0.24) benchmarks ended on a positive note.USD / Euro 1.39 1.37 1.46Yen / USD 76.86 76.85 0.01
  • 3. Oct 17, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSS&P500 1,184.5 1,208.3 2.01 China’s consumer price index (CPI) rose 6.1% in September from a yearTRIVENI 22.5 22.8 1.33 earlier, according to reports. The reading for September was more or less in line withDJIA 11,355.0 11,485.0 1.14 estimates. The latest CPI reading for China was lower compared to August, when pricesCOREEDUTEC 285.1 287.2 0.75 rose 6.2% annually. CPI rose 0.5% month-on-month in September, a higher readingCENTRALBK 103.3 104.1 0.73 than the 0.3% increase recorded in August. Inflation in China still remains above thePOLARIS 140.2 141.1 0.68 central bank’s target range and the People’s Bank of China currently has little scope toABAN 405.6 401.2 (1.08) loosen its monetary policy.IDEA 95.4 94.5 (0.94)SESAGOA 220.0 218.1 (0.86) India has become more competitive in information technology compared to otherABGSHIP 405.9 403.0 (0.73) countries , the Business Software Alliance (BSA) reported today with its publication of the 2011 edition of the Economist Intelligence Units IT Industry Competitiveness Index.CHAMBLFERT 101.1 100.4 (0.69)BANKBARODA 770.6 765.9 (0.61) Indian banks’ loans rose by Rs1.72 trn ($35.1 billion) in September, according to a report. The report stated that the outstanding advances stood at Rs42.2 trillion.INSTITUTIONAL ACTIVITY (Rs Cr) 5-Oct 4-Oct YTDFII 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 %Jindal Steel 525.15 5.01 HATHWAY CAB 122.1 20.00 BL Kashyap 11.1 19.20TCS 1134.5 4.01 Ballarpur Inds 27.9 10.50 Himachal Futur 13.2 14.34Wipro 363.2 3.98 TV18 Broadcast 47.1 9.93 Oscar Invest 394.0 13.71Bharti Airtel 383.75 3.76 CRISIL 885.1 7.72 Honda Siel Power 377.7 13.63Bajaj Auto 1630.1 2.85 United Phos 144.0 7.31 Wire & Wireless 9.4 11.19TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Coal India 322.3 -2.91 Shri Ganesh Spi 7.4 -4.98 Zenith Info 83.9 -9.98Tata Steel 438.4 -2.84 Prestige Estates 101.4 -4.97 Confidence Petro 8.9 -7.12DLF 232.3 -2.68 EDELWEISS 24.6 -4.47 Kingfisher Air 21.7 -6.88Maruti Suzuki 1028.45 -2.65 Electrosteel Steels 6.0 -4.17 BF Invest 51.3 -5.00L&T 1407.8 -0.74 Gujarat Pipavav 69.8 -3.79 Clarus Finance 57.3 -4.98 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

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