Daily Newsletter - October 3, 2011


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Daily Newsletter - October 3, 2011

  1. 1. Oct 3, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 30-Sep 29-Sep % Change COMMENTARYBSE Sensex 16,454 16,698 (1.46) INDIANSE Nifty 4,943 5,015 (1.44) After managing to recapture the 5000 level in the previous trading session, the NSE Nifty was seen losingBSE Midcap 6,130 6,165 (0.58) over 70 points. The fall was led by heavy sell- off in the metals and ADAG stocks due to adverse news flow.BSE Smallcap 6,881 6,942 (0.88) ADAG shares crumbled after reports stated that CBI has offered 3 executives to turn approvers in the 2GNifty Junior 9,822 9,916 (0.95) saga. Among the top losers were Reliance Capital, RCom and Reliance Infra. Metal heavyweights like SterliteCNX Midcap 7,094 7,118 (0.34) Industries and Tata steel were slammed after the Union Cabinet approved the new Mining Bill that calls for sharing of profits by coal miners and royalty by other miners. Finally, the BSE Sensex ended at 16,454, declining 244 points. It had earlier touched a days high of 16,745 and a days low of 16,404. It openedGLOBAL MARKETS 30-Sep 29-Sep % Change at 16,599. The NSE Nifty closed at 4,943, down 72 points.Dow Jones Ind (USA) 10,913 11,154 (2.16) The market breadth was negative, 1716 stocks declined for 1019 stocks that advanced.Nasdaq Composite(USA) 2,415 2,481 (2.65) GLOBAL MARKETSS&P 500 (USA) 1,131 1,160 (2.52) US stocks fell on Friday, putting equities on track for their worst quarter since 2008, as economic data fromFTSE 100 (UK) 5,128 5,197 (1.32) China and Europe fueled fears of a global economic slowdown. The Dow Jones Industrial Average fellDAX (Germany) 5,502 5,640 (2.44) 2.16%, to 10,913; the Standard & Poors 500 Index dropped 2.52%, to 1,131; the Nasdaq Composite Index lostNikkei 225 (Tokyo) 8,700 8,701 (0.01) 2.65%, to 2,415. The S&P 500 index has lost nearly than 13% this quarter and 5.6% in September, leaving theHang Seng (Hong Kong) 17,592 18,011 (2.32) benchmark index on pace for its fifth monthly decline. Stocks have been weighed down by signs of a globalShanghai Comp (China) 2,360 2,365 (0.24) economic slowdown and uncertainty about how eurozone leaders would prevent a Greek default. Also, U.S.KOSPI (South Korea) 1,769 1,769 (0.00) factories grew last month at the slowest pace since July 2009. European officials gathering in Luxembourg onSTI (Singapore) 2,675 2,708 (1.21) Monday will grapple with how to shield banks from the debt crisis and consider a further boost to theMSCI Emerging Market 346 345 0.29 region’s rescue fund. Asia stocks have dropped, following the regional index’s biggest quarterly loss since 2008, and the euro hasMSCI Frontier Market 478 480 (0.42) fallen to an eight-month low against the dollar before European finance ministers gather to weigh the threat of a Greek default. Nikkei is down 2.2 percent, Hang Seng is down 3.9 percent and Strait Times is down 1.9 percent. SGX Nifty is trading down 78 points, at 4852 indicating a gap-down start.BOND MARKETS 30-Sep 29-Sep Change10yr G-Sec Yield 8.29 8.29 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 State-run BSNL may get an additional Rs 5,503 crore from the Department of Telecom to establish anLIBOR (6m) 0.21 0.21 0.00 alternate communication network for defence services, enabling the vacation of spectrum by theLIBOR (1m) 0.16 0.16 0.00 Armed Forces.The budget estimate approved by the Cabinet Committee of Infrastructure (CCI) for thisInterbank Call rate 8.27 8.27 0.00 purpose in December, 2009, was Rs 8,098 crore. The total cost of the project, including two years maintenance support by BSNL after the network is fully integrated, is Rs 13,601 crore, according to sources in the DoT. BSE Turnover Rs Cr(000) Sensex Cairn India has discovered natural gas reserves in the very first well it has drilled in the offshore Mannar 16800 3.5 Basin of Sri Lanka.The Mannar basin in Sri Lanka is a frontier petroleum province that is yet to be 3.0 explored. The Block, SL 2007-01-001, was awarded to Cairn in the 2008 Sri Lanka bid round. Cairn Lanka 16600 (Private) Limited is a wholly owned subsidiary of Cairn India and holds a 100 per cent participating 16400 2.5 interest in the Mannar block.Cairn Lanka acquired 1,750 square kilometres of 3D seismic data in the 2.0 Mannar Basin of Sri Lanka between December 2009, and January 2010. 16200 1.5 16000 1.0 Coal India said it might invest up to Rs 40,000 crore in the 12th Plan Period ending 2017 towards mines 15800 development to augment production. 0.5 15600 0.0 State-owned Oil & Natural Gas Corp (ONGC) may this week invite Cairn India and Vedanta Resources 26-Sep 27-Sep 28-Sep 29-Sep 30-Sep for signing of an agreement on sharing of statutory levies on the all important Rajasthan oilfields.The Board of ONGC had on September 27 agreed to waive its pre-emption rights and give consent to London-based miner Vedanta buying majority stake in Cairn India.But the state-owned oil explorer had added a caveat that the no-objection certificate or NOC will be issued only after Cairn and Vedanta sign NSE Turnover Rs Cr(000) Nifty a legal document agreeing to share royalty and pay cess on oil produced from Rajasthan fields. 5050 14 5000 12 Plywood and laminates maker Greenply Industries is eyeing nearly 70% jump in its turnover to touch 4950 10 Rs 2,400 crore in the next two years on the back of consolidation of its existing business.The 88.38 #DIV/0! company, which reported revenues of Rs 1,420 crore for 2011 fiscal, is looking to enhance operational 4900 8 efficiencies, including full utilisation of its installed capacity in the next two years to achieve the revenue 4850 6 target.The firm is looking to enhance its domestic business, while also increasing exports as a part of 4800 4 plans to achieve its revenue target. 4750 2 State Bank of India revised upwards the interest rates on NRE rupee and FCNR-B deposits in select 4700 0 currencies and select maturities. 26-Sep 27-Sep 28-Sep 29-Sep 30-Sep
  2. 2. Oct 3, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 30-Sep 29-Sep % Change CORPORATE NEWSCD 6,361 6,297 1.02% Maharatna Coal India said its profitability would be eroded by about Rs 2,000 crore perHC 5,868 5,903 -0.59% annum post enactment of new mines legislation which mandates coal miners to shareOIL&GAS 8,494 8,551 -0.66% 26% of their profits with project affected people.The domestic coal prices range betweenTECk 3,252 3,283 -0.96% Rs 770 and Rs 1,700 a tonne at present.IT 5,275 5,339 -1.19% -1.19% Maruti Suzuki India will resume the full scale production from the Manesar plant fromCG 10,743 10,872 Monday, as the 33-day long standoff with workers has ended.The over-a-month longFMCG 3,910 3,963 -1.33% standoff between the management and workers of the Manesar plant ended early onPOWER 2,125 2,160 -1.59% Saturday following talks brokered by the Haryana government..As per thePSU 7,404 7,526 -1.62% agreement, workers agreed to sign the contentious good conduct bond laid down by theAUTO 8,498 8,651 -1.76% management, while the company agreed to conditionally take back 18 trainees who wereBANKEX 10,851 11,055 -1.84% suspended.However, 44 regular employees, against whom disciplinary action was takenREALTY 1,763 1,800 -2.08% have been kept under suspension.METAL 10,996 11,299 -2.68% Future Group is aiming for a bigger play in Indias education sector with plans to expand its training and skill development vertical Future Learning and become an autonomous entity providing professional courses across industry sectors.It is planning to invest over Rs 20 crore in the next 2-3 years and add courses in areas such as healthcare, education and infrastructure.The group has already invested Rs 25 crore in Future Learning in the last couple of years since it was set up to impart education to people across sectors likeBSE Upper Circuit Breakers retail and supply chain.Company Name 30-Sep 29-Sep % ChangeSudar Garments 74 67 10.00 Kingfisher Airlines has given a little over Rs 50 crore as commission to its chairman andAnand Credit 3.3 3.0 10.00 key promoter Vijay Mallya, who provided guarantees worth more than Rs 6,100 crore forMadhur Inds 72.6 66.0 10.00 the airlines loans and other liabilities during the last fiscal.The airline disclosed the guarantees worth Rs 6,175.63 crore provided by Mallya and the commission paid to himSanraa Media 0.1 0.1 10.00 0 in its Annual Report for FY11, which were made available to the shareholders ahead of itsKaira Can 294.0 280.0 5.00 AGM last week in Bangalore.Kingfisher, which claims to be the countrys single largest airline with a market share of about 20%, is taking various steps to improve its operating performance and as part of these efforts has decided to phase out its low-cost service Kingfisher Red in about four months. State-run power equipment maker Bharat Heavy Electricals is facing as many as 163 civilBSE Lower Circuit Breakers and criminal proceedings, including those related to bank guarantee and recovery of money.BHEL was facing 144 civil and 19 criminal cases, among other litigations, as onCompany Name 30-Sep 29-Sep % Change September 15.Meanwhile, BHEL has initiated three criminal cases and 125 civilHydro S&S Inds 19.00 20 (5.00) proceedings -- whose aggregate monetary value about Rs 188.39 crore.Lancor Hold 28.5 30.0 (5.00)Paraan 1,444.1 1,520.1 (5.00) Accounting regulator ICAI has accused state and central governments, and PSUs, ofSahara Hous 81.8 86.1 (5.00) deliberately favouring chartered accountant companies having affiliations withSKY Inds 49.5 52.1 (5.00) multinational audit firms. Anil Ambani Group company Reliance Mutual Fund said it is looking for a foreign partner to sell its mutual fund products in the overseas markets.Indias largest asset management company Reliance MF has presence in five overseas locations -- Dubai, Singapore, Mauritius, Malaysia and the UK.At the end of June quarter, the fund house managed average assets worth over Rs 1.01 lakh crore and had an investor base of 7.3 million. Chennai-based 2-wheeler maker TVS Motor Company reported 17% increase in total vehicle sales in September to 2,19,369 units.COMMODITY 30-Sep 29-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 102 105 (2.63)Gold (Rs/10gm) 26,050 25,551 1.95 Brent Crude Oil ended down by 2.63% at $102 per barrel. Gold ended higher by 1.95% at Rs 26,050 and Silver closed flat at Rs 50,905.Silver (Rs/kg) 50,905 50,436 0.93CURRENCY 30-Sep 29-Sep % Change The Indian Rupee closed lower against the dollar at Rs 48.97 as the Indian equityINR / USD 48.97 48.97 - benchmarks ended on a positive note.USD / Euro 1.36 1.36 -Yen / USD 76.64 76.64 -
  3. 3. Oct 3, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSGITANJALI 346.5 351.0 1.30 The government is considering allowing foreign companies to completely own single-MCLEODRUSS 236.1 239.0 1.25 brand retail stores in the country, after it was forced to put its plans of letting foreignTECHM 572.0 578.0 1.05 retailers invest in multibrand outlets on the backburner due to lack of politicalHOTELEELA 35.9 36.3 0.97 consensus.TATACHEM 315.2 318.0 0.90FSL 11.3 11.4 0.89 Amid a raging controversy over the Rs 32 per capita per day poverty lineBEML 456.0 460.0 0.88 definition, Planning Commission Deputy Chairman Montek Singh Ahluwalia met PrimeMOSERBAER 21.2 20.1 (5.42) Minister Manmohan Singh today and will clarify the panels stand on the issue onABAN 352.0 336.8 (4.33) Monday.DLF 221.0 212.8 (3.73) The cash-starved microfinance sector will be severely hit by if the new draft guidelinesBHUSANSTL 333.2 325.0 (2.45) issued by the Reserve Bank of India on securitisation of loan portfolios areVIPINDS 915.0 896.0 (2.08) implemented, according to the microfinance industry.INSTITUTIONAL ACTIVITY (Rs Cr) 22-Sep 21-Sep YTD The government plans a whopping Rs 2 lakh crore capital infusion into the state-ownedFII Cash Net -1234.5 333.7 5,177 banks spread over 10 years, to help them meet fund requirement and comply with theFII Stock Futures -395.85 -292.23 21,580 Basel-III capital adequacy norms.FII Index Futures -1813.5 -89.33 14,827Mutual Fund -41 216 5,453 An intensifying legal battle between Samsung Electronics Co and Apple Inc is expected to crimp growth at one of the fastest growing businesses of the Korean company, whileVALUATIONS P/E P/B DIV YLD threatening to worsen business ties with the firms largest customer.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 %Bharti 378.1 0.44 Dewan Housing 235.1 7.84 Asian Hotels (East) 340.0 12.21RIL 808.3 0.02 Honeywell Auto 2649.1 5.40 Astra Micro 29.0 10.90- - - SREI Infra 33.9 3.99 Man Infra 137.1 9.29- - - Phoenix Mills 217.0 3.95 GLOBUS SPR 109.7 9.10- - - KGN Inds 31.0 3.85 Dynamatic Tech 1093.2 7.70TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Coal India 332.8 -5.15 Network18 Media 79.0 -12.67 RBN 69.0 -12.89Sterlite Inds 113.85 -4.05 Ruchi Soya 111.4 -7.67 Kingfisher Air 20.0 -12.47Tata Steel 415.25 -3.99 Sintex Inds 127.5 -7.34 Bajaj Corp 106.4 -11.33Jindal Steel 502.05 -3.78 Voltas 111.4 -6.74 Entertainment Netw 261.1 -8.99HEROMOTOCO 1941.85 -3.01 Indiabulls Real Est 73.1 -5.56 Modern India 34.2 -7.94 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