Daily newsletter - October 24, 2011

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  • 1. Oct 24, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 21-Oct 20-Oct % Change COMMENTARYBSE Sensex 16,786 16,937 (0.89) INDIANSE Nifty 5,050 5,092 (0.82) The market proceedings ended on a jittery note as selling pressure towards close ahead of the impendingBSE Midcap 6,112 6,154 (0.68) weekend, which nullified the stability that had characterized most of the session. Larsen and Toubro (L&T)BSE Smallcap 6,825 6,866 (0.60) weakened by 3.5% at Rs 1,336, losing 6% from the day’s high of Rs 1,417, to top the losers list on the BSE afterNifty Junior 9,683 9,783 (1.02) cutting down its order flow forecast to 5% from 15% for FY12. The markets have yo-yoed throughout theCNX Midcap 7,008 7,063 (0.78) previous week, with the Sensex tanking by more than 300 points on Tuesday, retracing all the lost ground on the very next day and again surrendering the gains in the last two sessions. The Sensex on Friday, ended at 16,786, lower by 151 points and the Nifty shut shop at 5050, down 42 points. The midcap index ended atGLOBAL MARKETS 21-Oct 20-Oct % Change 6111, lower by 41 points and the smallcap index ended at 6825, down 41 points. The market breadth wasDow Jones Ind (USA) 11,809 11,542 2.31 weak. Out of 2920 stocks traded on the BSE, there were 1122 advancing stocks as against 1674 declines. Taking positive cues from the US markets, Indian bourses may open with gains but the mood is likely to stayNasdaq Composite(USA) 2,637 2,599 1.49 cautious as the RBI meets on Tuesday to take stock of inflation and European leaders moot a solution to theS&P 500 (USA) 1,238 1,215 1.88 Eurozone debt crisis on WednesdayFTSE 100 (UK) 5,489 5,385 1.93DAX (Germany) 5,971 5,766 3.55 GLOBAL MARKETSNikkei 225 (Tokyo) 8,679 8,682 (0.04) US stocks rose on Friday to levels unseen since early August on the eve a European Union debt-crisis summitHang Seng (Hong Kong) 18,026 17,983 0.24 that could go some way to remove a major overhang for markets. The Dow Jones Industrial Average was upShanghai Comp (China) 2,318 2,331 (0.59) 2.31%, at 11,809. The Standard & Poors 500 Index was up 23 points, or 1.88%, at 1,238. The NasdaqKOSPI (South Korea) 1,838 1,806 1.81 Composite Index was up 38 points, or 1.49%, at 2,637. Meanwhile, across the Atlantic, European stockSTI (Singapore) 2,712 2,694 0.68 markets closed higher. Frances CAC 40 was up 2.83%; Germanys DAX gained 3.55%; Britains FTSE 100 climbed 1.93%; and the EURO STOXX 50 rose 2.89%.MSCI Emerging Market 352 354 (0.56)MSCI Frontier Market 479 475 0.84 Asian markets are trading positive as Nikkei is up 1.4 percent, Hang Seng is up 3 percent and Strait Times is up 1.5 percent. SGX Nifty is up 52 points at 5120, indicating a gap-up start to trade.BOND MARKETS 21-Oct 20-Oct Change10yr G-Sec Yield 8.68 8.75 (0.07) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.81 8.68 0.13 With a view to improve power supplies ahead of Diwali, state-run Coal India has increased despatchesLIBOR (6m) 0.21 0.21 0.00 of the dry fuel to power utilities by 28 per cent from October 10. The countrys largest coal miner in aLIBOR (1m) 0.16 0.16 0.00 statement said that on an average, 0.85 million tonnes (MT) per day of coal were dispatched to powerInterbank Call rate 8.65 8.26 0.39 utilities during October 11 to October 20 vis-a-vis 0.66 MT per day of supplies witnessed during the first ten days of the month. Cairn Lanka, a subsidiary of Cairn India which had recently announced the discovery of oil in the BSE Turnover Rs Cr(000) Sensex Mannar basin, has begun drilling a second well in search of oil in the island nation of Sri Lanka. 17200 2.6 17100 The $12.5 billion Mahindra group is diversifying into solar energy through its in-house private equity 2.5 arm Mahindra Partners. The solar business, part of Mahindras Clean Tech vertical, will be involved in on- 17000 2.4 grid solar plants, off-grid or captive solar plants, solar power products and EPC contracts. 16900 2.3 16800 JSW Steel, currently running at a capacity of 50-60 per cent, is in talks with its long-term customers to 16700 2.2 raise steel prices in the range of three-four per cent. 16600 2.1 Leisure hospitality firm Sterling Holiday Resorts is renovating its 17 existing resorts and plans to add 16500 2.0 five more properties over the next six months, a top company official has said. 17-Oct 18-Oct 19-Oct 20-Oct 21-Oct The five-member selection committee set up to find a successor to Tata Group chairman Ratan Tata is discussing the creation of a new post of group chief executive officer (CEO) at Tata Sons. NSE Turnover Rs Cr(000) Nifty Idea Cellular reported a massive 41 per cent fall in consolidated net profit to Rs 105.76 crore in the 5160 10 second quarter ended September 30, driven by larger interest cost and forex losses. However, total 5140 income of the mobile services provider rose to Rs 4,619.92 crore during the quarter under review, up 10 5120 from Rs 3,659.19 crore. 5100 88.38 #DIV/0!9 5080 Larson & Toubro (L&T) posted a 15% growth in its net profit at Rs 798 crore for the July-September 9 5060 quarter against Rs 694 crore which it posted in the year-ago period. The company in a statement 5040 8 provided gross sales figures for the quarter under preview which were up 20% at Rs 11,375 crore year- 5020 on-year. The company has given a revenue guidance of 20-25% for the current quarter. Further, the 8 5000 company said it expects a margin contraction by 75-125 bps from the earlier 50-75 bps for FY12. 4980 7 17-Oct 18-Oct 19-Oct 20-Oct 21-Oct
  • 2. Oct 24, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 21-Oct 20-Oct % Change CORPORATE NEWSCD 6,706 6,691 0.22% Aditya Birla Group flagship Grasim Industries reported a 29 percent rise in net profit at RsAUTO 8,848 8,865 -0.20% 418 crore for the September quarter, driven by improved performance of its cement andHC 5,928 5,944 -0.27% viscose staple fibre (VSF) businesses. Total revenue for the quarter grew 28 percent to RsIT 5,526 5,548 -0.39% 5,774 crore compared to Rs 4,503 crore in the corresponding quarter last year.OIL&GAS 8,650 8,690 -0.46% -0.50% Wind turbine maker Suzlon reported a profit of Rs 58.65 crore for the three months toPOWER 2,108 2,119 September. The company had a loss of Rs 368.81 crore in the same period a year ago, itPSU 7,376 7,421 -0.61% said in a statement. In the latest quarter, Suzlons total income rose to Rs 5,130.90BANKEX 11,094 11,169 -0.67% crore, from Rs 3,819.32 crore in the year-ago period.FMCG 3,966 3,995 -0.73%TECk 3,357 3,387 -0.88% Public sector lender Syndicate Bank posted a 36 per cent increase in its net profit to RsMETAL 11,100 11,253 -1.36% 323 crore for the second quarter ended September 30, 2011, compared to Rs 237 crore inCG 10,558 10,760 -1.88% the year-ago period. Total income of the lender increased to Rs 4,015.84 crore during theREALTY 1,773 1,809 -1.99% quarter from Rs 2,972.80 crore over the same period last year. State-run Power Grid Corp posted nearly 9 per cent rise in profit to Rs 708.74 crore for the three months ended September 30, 2011. The leading power transmission utility had a profit of Rs 651.40 crore in the year-ago period. In the September quarter, Power Grids revenues climbed to Rs 2,264.35 crore from Rs 2,126.63 crore in the same period last year, the company said in a regulatory filing.BSE Upper Circuit BreakersCompany Name 21-Oct 20-Oct % Change Indias No. 3 private lender, Axis Bank , reported a higher-than-expected 25 percent riseAanjaneya Lifecare 383 319 20.00 in second-quarter profit. The bank said its net profit in the quarter ending September roseUTISUNDERETF 1,426.5 1,188.7 20.00 to 9.2 billion rupees ($184.6 million) from 7.35 billion rupees a year ago.Sun Techno 0.3 0.3 10.00 Hyderabad-based Coromandel International Limited posted a consolidated net profitRefex Refr 15.3 13.9 10.00 0 of Rs 278.82 crore, down 20 per cent, for the second quarter ended September 2011, asROCKON FIN 4.5 4.1 10.00 compared with Rs 350.10 crore due to flat growth in sales among other factors. Sales stood at Rs 2,792.97 crore as compared with Rs 2,773.36 crore while expenditure grew 6.5 per cent though expenses from consumption of raw material remained flat at Rs 1,428.32 crore. Led by a continued growth in its brands and retail business, Arvind Limited has posted aBSE Lower Circuit Breakers 58 per cent growth in its consolidated net profit for the quarter ended September 21-Oct 20-Oct % Change 30, 2011. Arvind consolidated net profit went up to Rs 62 crore, as against Rs 39 crore inCompany Name the corresponding quarter last year on account of improved EBITDA margin.PFL Infotech 638.1 671.6 (5.00)Binny 52.4 55.2 (5.00) With the inaugural Indian Grand Prix round the corner, United Breweries Ltd (UBL) hasCiturgia Bio 232.5 244.7 (5.00) planned a host of activities during the event to promote its beer brands and catchMarathon Next 173.2 182.3 (5.00) consumer attention.The company is also aiming to leverage from its association with oneSecunderabad Health 7.4 7.8 (5.00) of the F1 teams, Sahara Force India, which is co-owned by UB Group Chief Vijay Mallya with 42.5 per cent stake. Leading plastics products maker Supreme Industries has drawn up plans to invest Rs 200 crore in the current fiscal year. CAPEX is expected to be utilized by investing Rs 58 crore to set up a unit for producing LPG composite gas cylinders at Halol in Gujarat, and Rs 56 crore to start a new unit to manufacture cross laminated plastic products in Vadodara.COMMODITY 21-Oct 20-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 110 110 (0.09)Gold (Rs/10gm) 26,765 26,354 1.56 Brent Crude Oil ended flat at USD$109.8 per barrel. Gold ended higher by 1.56% at Rs 26,765 and Silver closed higher by 2.48% at Rs 53,014.Silver (Rs/kg) 53,014 51,730 2.48CURRENCY 21-Oct 20-Oct % Change The Indian Rupee closed lower against the dollar at Rs 50.02 as the Indian equityINR / USD 50.02 49.80 0.44 benchmarks ended on a negative note.USD / Euro 1.38 1.37 0.73Yen / USD 76.70 77.02 (0.42)
  • 3. Oct 24, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSS&P500 1,184.5 1,218.8 2.89 The proposal to allow foreign airlines to pick up stakes in domestic carriers may becomeDJIA 11,355.0 11,540.0 1.63 a reality soon. The Department of Industrial Policy and Promotion (DIPP) under theJINDALSWHL 512.1 517.4 1.04 commerce ministry has floated a draft cabinet note for inter-ministerial discussions onGMDCLTD 174.2 175.8 0.95 foreign direct investment (FDI) in aviation. It has received the civil aviation ministry’sKFA 22.6 22.8 0.88 nod to go ahead with the proposal.TECHM 572.3 576.9 0.81HINDZINC 120.0 118.5 (1.29) The Indian food processing industry is expected to reach USD 320 billion by 2015 andKTKBANK 83.5 82.6 (1.14) there is a need to create a conducive climate to attract investments in this sector, anBHARATFORG 285.9 283.3 (0.93) industry official said.INDIAINFO 71.2 70.6 (0.91) German Chancellor Angela Merkel said she expected a breakthrough in efforts to comeDCHL 54.4 54.0 (0.74) up with a comprehensive response to the euro zone debt crisis on Wednesday, after EUBANKBARODA 745.0 739.6 (0.72) finance ministers made progress in talks on recapitalising banks.INSTITUTIONAL ACTIVITY (Rs Cr) 13-Oct 12-Oct YTD A special court on Saturday framed charges against former telecom minister A Raja andFII Cash Net 665.8 649.5 (365) 16 other accused, including top executives of three telecom companies, in the multi-FII Stock Futures -49.17 102.93 8,146 billiondollar 2G spectrum scandal. Special Judge OP Saini ruled that there was sufficientFII Index Futures 231.15 581.41 14,791 evidence against all the accused to stand trial.Mutual Fund -82.4 179.5 264VALUATIONS P/E P/B DIV YLDBSE 18.3 3.4 1.5NSE 18.4 3.1 1.5BSE500 Mcap/GDP Ratio 0.31 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Maruti Suzuki 1092.3 1.53 Raymond 384.8 7.46 Aanjaneya Lifecare 383.0 19.99Bajaj Auto 1640.55 1.52 Gujarat State Fert 455.7 6.68 Jindal World 110.8 14.12Hero MotoCorp 2052.1 1.15 JPINFRATEC 63.9 6.42 Uflex 168.2 12.17SBI 1948.6 0.73 FAG Bearings 1326.9 5.89 EIH Associated 162.0 7.28BHEL 319.75 0.58 Ramky Infra 230.7 5.63 Moser Baer 27.8 6.72TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %L&T 1336.0 -3.54 Polaris Soft 128.7 -6.16 Kirloskar Bros 129.6 -8.96Bharti Airtel 377.9 -3.08 Kirloskar Oil Engines 131.0 -6.13 Tuni Textile 29.2 -8.75Tata Motors 177.95 -2.81 MVL 24.9 -5.14 Sahara One 132.2 -7.52DLF 225.05 -2.66 Jain Irrigation 123.7 -5.07 Motilal Oswal 81.0 -6.14Hindalco Inds 121.65 -2.48 Prestige Estates 95.1 -5.04 Jai Balaji Inds 89.5 -5.89 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