Daily Newsletter - Sep 13, 2011


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Daily Newsletter - Sep 13, 2011

  1. 1. Sept 13, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 12-Sep 09-Sep % Change COMMENTARYBSE Sensex 16,502 16,867 (2.17) INDIANSE Nifty 4,942 5,060 (2.32) It was a manic Monday on Dalal-Street, as the NSE Nifty plunged over 100 points starting off an eventfulBSE Midcap 6,317 6,435 (1.84) week on a bad note. It was the second successive trading session where the Indian markets closed withBSE Smallcap 7,168 7,304 (1.86) heavy losses. The NSE Nifty ended below the 5000 mark, while the BSE Sensex just managed to close aboveNifty Junior 9,948 10,200 (2.46) the 16500 mark. Markets opened with a gap down, tracking overnight losses in the US and the AsianCNX Midcap 7,236 7,414 (2.40) markets. As the day progressed, disappointing IIP data further dampened the sentiment. The Industrial Production for the month of July fell to 3.3% against market expectation of 6.6%. The capital Goods index was the most hit, as some of the important items of capital goods showed highly negative growth during the current month and thus contributing to the low growth of the overall index for the month. Stocks likeGLOBAL MARKETS 12-Sep 09-Sep % Change L&T, Crompton Greaves fell over 3% each, while BHEL declined by 1.5%. Among the other major laggardsDow Jones Ind (USA) 11,061 10,992 0.63 were BSE Metal, BSE IT and Realty index which fell over 3% each. Even the Mid-Cap and the Small-Cap indexNasdaq Composite(USA) 2,495 2,468 1.09 fell 1.9% each. Finally, the BSE Sensex ended at 16,502, losing 365 points. The NSE Nifty closed at 4,942, downS&P 500 (USA) 1,163 1,154 0.73 117 points.FTSE 100 (UK) 5,130 5,215 (1.63) The BSE market breadth remained extremely negative with 1,952 shares on the declining side and 737 on theDAX (Germany) 5,072 5,190 (2.27) advancing side. Around 2,770 shares have been traded so far.Nikkei 225 (Tokyo) 8,536 8,738 (2.31)Hang Seng (Hong Kong) 19,031 19,866 (4.21) GLOBAL MARKETSShanghai Comp (China) 2,498 2,499 (0.05) U.S. stocks advanced, erasing earlier losses, as speculation that China may invest in Italy triggered a rally that lifted the Dow Jones Industrial Average more than 200 points in the last 45 minutes of trading. The S&P 500KOSPI (South Korea) 1,813 1,813 0.00 advanced 0.7 percent to 1,1623, after retreating 1.6 percent earlier. The Dow increased 68.99 points, or 0.6STI (Singapore) 2,744 2,825 (2.89) percent, to 11,061.MSCI Emerging Market 384 392 (2.04)MSCI Frontier Market 498 502 (0.80) Asian markets have opened up in green on back of the pull back in the US markets overnight. Nikkei is up by 0.25%. Straits Times is up close to a percent. Hang Seng is closed for the day. SGX Nifty is also up 22 points trading at 4965 suggesting a soft opening for our markets too.BOND MARKETS 12-Sep 09-Sep Change10yr G-Sec Yield 8.29 8.29 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.30 0.04 Industrial growth fell to a meagre 3.3% in July this year on account of poor performance mainlyLIBOR (6m) 0.39 0.39 0.00 by capital goods, manufacturing and mining sectors, reflecting sluggishness in the economy. GrowthLIBOR (1m) 0.16 0.16 0.00 in the factory output, as measured in terms of the Index of Industrial Production (IIP), had stood at 9.9%Interbank Call rate 8.0 8.0 0.04 in July last year. During the April-July period of this fiscal, IIP growth stood at 5.8%, as against 9.7% in the corresponding four-month period last year. Pipavav Shipyard will set up a joint-venture company with Mazagon Dock under the name Mazagon BSE Turnover Rs Cr(000) Sensex Dock Pipavav Ltd to build warships. Mazagon Dock which is controlled by Ministry of Defence 17400 3.5 (Government of India) selected the Pipavav as its JV partner. The board of Pipavav Shipyard today 17200 3.0 approved setting up of the JV company. 17000 2.5 Movie distributor Eros International Plc said it signed a multi-film agreement with KT Corp, South 16800 2.0 Koreas second-largest mobile carrier, to showcase 50 of its film titles on multiple digital platforms. Eros 16600 1.5 said KT-owned Olleh TV would showcase 50 films from the companys library, including Chalo Dilli 16400 1.0 (Lets Go To Delhi), No Problem and London Dreams, as per the revenue-sharing agreement. 16200 0.5 Suzuki Motor Corp said on Monday that it plans to end its capital and business alliance with 16000 0.0 Volkswagen, and that it will ask Volkswagen to sell its stake in it. The announcement comes after 6-Sep 7-Sep 8-Sep 9-Sep 12-Sep Volkswagen said Suzukis decision to source diesel engines from Fiat infringed on the terms of their partnership. Volkswagen holds a 19.9% stake in Suzuki, while Suzuki holds a 1.5% stake in Volkswagen. State Bank of India, Chairman Pradip Chaudhary has reportedly said that it hopes to launch rights NSE Turnover Rs Cr(000) Nifty issue by December. The report stated that the company expects government nod on rights issue 5200 14 shortly. 5150 12 5100 10 Tata Consultancy Services, a leading IT services, business solutions and consulting firm, announced 5050 88.38 #DIV/0! the launch of the TCS Global Center of Excellence (CoE) in support of SAP HANA appliance software at 8 5000 the SAP TechEd 2011 Las Vegas conference. 6 4950 4900 4 MARG Limited is foraying into the fabrication of wagon with a new order win from Braithwaite & Co. 4850 2 Ltd (BCL). MARG EPC’s Industrial Project division has bagged the order worth Rs 37.66 Crore from Braithwaite & Co. Ltd which includes fabrication and assembly of 247 Nos of BTFLN wagon in the 4800 0 workshop of BCL including supply of components and consumables except raw steel. 6-Sep 7-Sep 8-Sep 9-Sep 12-Sep
  2. 2. Sept 13, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 12-Sep 09-Sep % Change CORPORATE NEWSFMCG 3,953 3,960 -0.18% GTL Ltd has clarified that the lenders of GTL Infrastructure have agreed to clear aHC 5,957 5,983 -0.45% proposal to restructure its debt. The Company is in dialogue with potential investorsPSU 7,544 7,665 -1.59% including Viom networks and some private equity players. Earlier the news item wasOIL&GAS 8,478 8,618 -1.62% appeared in a leading financial daily titled "Lenders to Clear GTLs Debt Recast".POWER 2,162 2,206 -2.01% -2.13% The countrys 12th five-year plan aims for a 9% growth in gross domestic product, PrimeCG 12,171 12,436 Minister Manmohan Singh said yesterday.AUTO 8,537 8,754 -2.47%BANKEX 10,756 11,098 -3.08% Japanese electronics and appliances maker Panasonic yesterday said its IndianTECk 3,056 3,154 -3.12% operations are expected to contribute about 5% to its global sales by 2015 driven by localREALTY 1,721 1,776 -3.13% manufacturing, exports and enhanced R&D capabilities.IT 4,788 4,950 -3.27%METAL 11,888 12,306 -3.39% After a days halt, work at the proposed Posco steel plant site in Orissas JagatsinghpurCD 6,490 6,721 -3.43% district was in progress today with peoples cooperation, official sources reported. Workers of Maruti Suzuki Indias (MSI) first plant at Manesar yesterday approached district authorities here seeking intervention to bring an end to the impasse that has resulted in production being affected since August 29. Around 1,500 workers also took out a protest rally near the mini secretariat here demanding that the company management should not force them to sign a good conduct bond.BSE Upper Circuit BreakersCompany Name 12-Sep 09-Sep % Change Reliance Broadcast Network Ltd., one of India’s youngest entertainment mediaSHALIMAR PAINTS 533 485 10.00 conglomerates marked its entry into the television business with its joint venture with US’MAHAVEER INFOWAY 18.6 16.9 10.00 No. 1 television broadcaster CBS Studios international, launching 3 premiumRupa & Company 212.3 202.2 5.00 entertainment channels beginning November 2010. In quick succession, in April 2011, the Company also launched its first Indian language channel BIG MAGIC exclusively cateringSheetal Diam 21.0 20.0 5.00 0 to the core Hindi heartland- UP,MP, Bihar & Jharkhand.Wallfort Fin 36.8 35.0 5.00 L&T Finance has entered into a strategic partnership with National Collateral Management Services Limited (NCMSL), a major agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders and farmers in financing their working capital requirements at all stages of the supply chain, ranging from pre-harvesting to the marketing and exportBSE Lower Circuit Breakers stages.Company Name 12-Sep 09-Sep % Change State-owned refiner Bharat Petroleum Corp Ltd will increase its naphtha exports by 12.5PARENTERAL DRUGS 108.7 120.7 (10.00) percent to 1.8 million tonnes next year when its new refinery ramps up operation, a seniorURJA GLOBAL 37.1 41.2 (10.00) company official reported.Kirloskar Industries 287.1 302.2 (5.00)POLYTEX INDIA 195.0 205.3 (5.00) Indian power companies have slowed down project implementation and are unable toBLUE COAST HOTELS 206.0 216.8 (5.00) operate new plants at targeted capacity, which may lead to defaults of over Rs 135,000 crore from the sector that is battling low tariffs, scarce fuel and land acquisition problems. India has witnessed an over 25 per cent increase in air traffic in the last two years with Kingfisher emerging as the number one carrier. According to the data received by an RTI filing with the DGCA, the number of passengers travelling by air are increasing and there has been an increase of 25.42 per cent over the last two years. Among all the air carriers in India, Kingfisher topped the list carrying nearly 9.61 lakh passengers for the month of July 2011, followed by IndiGo.COMMODITY 12-Sep 09-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 111 113 (0.97)Gold (Rs/10gm) 28,044 28,229 (0.66) Brent Crude Oil ended lower at $111 per barrel. Gold ended lower by 0.66 percent at Rs 28,044 and Silver closed down by 0.43 percent at Rs 65,116.Silver (Rs/kg) 65,116 65,397 (0.43)CURRENCY 12-Sep 09-Sep % Change The Indian Rupee closed lower against the dollar at Rs 47.17 as the Indian equityINR / USD 47.19 46.57 1.33 benchmarks ended on a negative note.USD / Euro 1.36 1.37 (0.73)Yen / USD 76.92 77.82 (1.16)
  3. 3. Sept 13, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSHINDUNILVR 319.9 346.7 8.36 Looking at the importance of nuclear energy to effectively bridge the energy gap forRCOM 76.4 79.8 4.45 India, UBM India is pleased to announce its 3rd edition of India Nuclear Energy 2011 –ALOKTEXT 17.3 18.1 4.34 3rd International Exhibition and Conference, from 29 Sep. - 1 Oct. 2011 atACC 1004.9 1,036.7 3.16 BEC, Goregaon (East), Mumbai. India Nuclear Energy 2011 will provide a global platformAUROPHARMA 128.5 131.4 2.22 for showcasing latest cutting edge nuclear technology and component supplyingGMRINFRA 27.1 27.7 2.22 companies as well as raw material suppliers. The format of the event has been designedALBK 173.0 162.5 (6.07) to offer an opportunity for best networking and business opportunities and provide anABAN 380.6 360.6 (5.24) interactive platform for equipment, technology suppliers and end users.BHARTIARTL 406.0 385.5 (5.05)MOSERBAER 22.8 21.7 (4.62) Global Logistic Properties, which is partly owned by Government of Singapore Investment Corp., is planning to list its Japanese assets through a real estate investmentBGRENERGY 315.7 304.7 (3.48) trust in an initial public offering in Japan, according to a report.AMBUJACEM 147.0 142.7 (2.93) The report stated that the company plans raise at least 100 billion yen. GLP, which listed on the Singapore Exchange late last year, has hiredINSTITUTIONAL ACTIVITY (Rs Cr) 29-Aug 26-Aug YTD Citigroup, Goldman Sachs and Nomura Holdings as the main underwriters for theFII Cash Net 485 -96.6 3,479 IPO, says report.FII Stock Futures 361.22 -126.3 1,137FII Index Futures 1079.21 594.26 10,863 Greece on Sunday slapped a new tax on real estate to plug a 2011 budget hole, pleaseMutual Fund 49 -50.7 6,048 international lenders and secure a key new loan tranche as concerns mounted in Europe over its euro zone membership. EU and IMF inspectors are due in Athens this week toVALUATIONS P/E P/B DIV YLD hear how the government plans to overcome delays and missed fiscal targets before approving an 8 billion euro tranche from its 110 billion euro bailout, key to GreecesBSE 18.4 3.4 1.5 survival.NSE 18.2 3.1 1.4BSE500 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 %Hindustan Unilever 346.0 3.83 PIPAVAVSHIP 91.6 12.05 Bhansali Engr-$ 26.7 15.09Sun Pharma 488.5 1.14 A2Z Maint & Engg 211.0 5.58 AGCNET 111.9 6.47Cipla 289.9 1.13 Aventis Pharma 2240.0 3.92 Allied Digit 33.9 6.11- - - Gujarat Pipavav 68.3 3.25 Gokaldas Expo 84.6 5.62- - - Jain Irrigation 174.1 2.59 Hinduja Found-$ 74.9 5.35TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Hindalco Inds 142.5 -5.19 AIA Engineering 302.3 -8.27 Confidence Petro 10.2 -11.07Tata Steel 454.3 -4.76 Sujana Towers 27.3 -8.24 Parenteral Drug-$ 109.0 -9.69Tata Motors 145.6 -4.69 IVRCL LTD 41.1 -7.75 Lovable Lingerie 559.0 -8.70SBI 1863.6 -4.67 Hexaware Tech 71.7 -6.71 Fineotex Chem 279.0 -7.69Jindal Steel 516.3 -4.44 Indiabulls Real Est 80.3 -6.69 Nectar Life 22.3 -7.68 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEMindTree Limited Coffee Day Resorts Pvt Ltd BUY 5.68% 428.0MindTree Limited Ashok Soota SELL 5.50% 428.0Bharat Forge Ltd Barclays Capital Mauritius Limited SELL 0.55% 307.6Balrampur Chini Mills Balrampur Chini Mills Ltd BUY 0.86% 62.9Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9BSEBedmutha Inds INVENTURE GROWTH & SECURITIES LTD. BUY 1.23% 123.0BGIL Films KAILASH CHANDRA BUY 0.80% 4.7Gemstone Invest SUKRATI CONSULTANCY SERVICES SELL 2.25% 8.9Monnet Ispat BLACKSTONE MANAGEMENT PARTNERS BUY 1.80% 478.1Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1