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Daily Newsletter - Sep 20, 2011

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  • 1. Sept 20, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 19-Sep 16-Sep % Change COMMENTARYBSE Sensex 16,745 16,934 (1.11) INDIANSE Nifty 5,032 5,084 (1.03) The Indian markets started the new trading week on a sour note with the benchmark indices finishing in theBSE Midcap 6,372 6,390 (0.29) red for a second consecutive session. After opening in the red, the key indices never looked like recovering asBSE Smallcap 7,212 7,213 (0.02) Asian indices slid and European markets resumed their downward swing. Finally, the BSE Sensex ended atNifty Junior 10,113 10,168 (0.54) 16,745, losing 188 points. It had earlier touched a days high of 16,865 and a days low of 16,709 after openingCNX Midcap 7,332 7,346 (0.20) at 16,865. The NSE Nifty closed at 5,032, down 52 points. On the other hand, the BSE Small-Cap index remained almost unchanged while the BSE Mid-Cap index was slightly down by 0.3%. Among sectoral indices, the BSE capital goods index shed 2% to 11,786. Bankex, metal and oil & gas indices slipped over 1% each. BSE IT index dropped 1% to 5,929 even as the rupee weakened again. Foreign institutional investorsGLOBAL MARKETS 19-Sep 16-Sep % Change (FIIs) were net sellers of Rs 166.21 crore (provisional) while Domestic institutional investors (DIIs) were netDow Jones Ind (USA) 11,401 11,509 (0.94) buyers of Rs 37.50 crore, according to data released by BSE.Nasdaq Composite(USA) 2,613 2,622 (0.36) The BSE market breadth was marginally negative. Out of 2,884 stocks traded, 1,415 stocks declined and 1,357S&P 500 (USA) 1,204 1,216 (0.99) advanced.FTSE 100 (UK) 5,260 5,368 (2.03)DAX (Germany) 5,416 5,574 (2.83) GLOBAL MARKETSNikkei 225 (Tokyo)* 8,864 8,864 0.00 US stocks fell after a Standard & Poor’s downgrade of Italy’s credit rating reinforced concern Europe’s debtHang Seng (Hong Kong) 18,918 19,455 (2.76) crisis is spreading. S&P fell to 1,204, down 1 percent, halting a five-day rally for the S&P 500 amid concernShanghai Comp (China) 2,437 2,482 (1.81) Greece will fail to qualify for more financial aid needed to avoid default. DJIA closed at 11,401, down 0.94 percent. Nasdaq closed at 2,613, down 0.4 percent.KOSPI (South Korea) 1,821 1,840 (1.05)STI (Singapore) 2,758 2,789 (1.13) Asia is trading mixed while the euro weakened for a third day after Italy’s credit rating was lowered atMSCI Emerging Market 378 373 1.34 Standard & Poor’s, fueling concern Europe’s sovereign-debt crisis will worsen. Nikkei is down 1.4MSCI Frontier Market 499 498 0.20 percent, Hang Seng is trading flat while Strait Times is up 0.2 percent. SGX Nifty is trading at 5037, down 5 points.BOND MARKETS 19-Sep 16-Sep Change10yr G-Sec Yield 8.32 8.39 (0.07) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.36 8.36 0.00 Tata Consultancy Services has announced that Deutsche Bank has selected the company as a strategicLIBOR (6m) 0.31 0.31 0.00 partner for their Production Management Transformation Initiative, within their Capital Markets BusinessLIBOR (1m) 0.21 0.21 0.00 Unit.Interbank Call rate 8.3 8.1 0.16 Reliance Security Solutions Limited, a subsidiary of Reliance Industries Ltd., (RIL) and Siemens Ltd. have signed a Memorandum of Understanding to jointly develop Homeland Security Solutions for Safe, Secure and Smart Cities and Highways in India. The Indian security market is expected to be one of BSE Turnover Rs Cr(000) Sensex the largest growing markets in the world over the next decade and this initiative will result in India 17000 3.0 joining a select set of advanced nations which are beginning to use 4G wireless networks for law 16900 enforcement purposes. 2.5 16800 16700 2.0 L&T Construction has bagged new orders valued over Rs10.15bn in the Building & Factories segment during the second quarter of FY2012. In the commercial buildings segment, the Company secured new 16600 1.5 orders valued at Rs6.92bn from reputed clients for the development of IT campuses, and for the 16500 1.0 construction of a commercial establishment. In the residential buildings and factories segment, L&T won 16400 new orders valued at Rs3.23bn for the construction of a residential tower and additional orders from on- 16300 0.5 going projects in the factories segment. These orders further augment the order book of the company 16200 0.0 which has already secured major design & build contracts in the sectors of airports, IT parks, commercial 13-Sep 14-Sep 15-Sep 16-Sep 19-Sep and residential buildings. The government have announced that it has cleared 12 proposals for foreign direct investment (FDI) in the country worth a total Rs 242.88 crore, including one from Indian Rotorcraft to carry out the NSE Turnover Rs Cr(000) Nifty assembly of both military and civil helicopters. 5100 16 14 Mercator Lines, the countrys second-largest private shipping firm, expects to acquire a coal mine in 5050 12 Indonesia in the next one week for around $30 million, and plans to list its coal division overseas, a top 88.38 #DIV/0!10 official said, sending its shares up. 5000 8 4950 6 Jyoti Structures Ltd has bagged orders worth Rs. 3.28bn from Power Grid Corporation of India. 4 4900 Fortis Healthcare will acquire its Singapore-based sister entity, Fortis Healthcare International Pte Ltd, to 2 consolidate its domestic and global hospital operations into a Rs 4,500 crore ($1 billion) healthcare 4850 0 company, which would be Asia’s largest, with active presence in 10 countries. 13-Sep 14-Sep 15-Sep 16-Sep 19-Sep
  • 2. Sept 20, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 19-Sep 16-Sep % Change CORPORATE NEWSCD 6,662 6,612 0.75% In a reprieve to Sun Pharmaceuticals, the US Food and Drug Administration (USFDA) hasAUTO 8,863 8,833 0.34% resolved its issues with the company on the manufacturing practices in one of itsREALTY 1,791 1,802 -0.62% American production facilities.TECk 3,173 3,195 -0.67%OIL&GAS 8,676 8,749 -0.83% ONGC shares declined amid reports that the Government was considering almost -0.93% doubling the state-run oil & gas explorers share of the fuel subsidy as it takes steps to cutFMCG 3,897 3,934 expenditure and reduce the fiscal deficit.HC 5,930 5,986 -0.94%IT 5,053 5,102 -0.96% Maruti Suzuki shares rose amid media reports that German auto major Volkswagen AGPSU 7,681 7,762 -1.05% could mount a hostile takeover of the companys Japanese parent Suzuki if the latterMETAL 12,111 12,248 -1.12% decides to leave a strategic alliance. A Volkswagen manager was quoted as saying that hePOWER 2,191 2,217 -1.15% doesn’t rule out a purchase of Suzuki Motor Corp. if the tie-up between the two carmakersBANKEX 10,998 11,128 -1.17% ends. Suzuki, which owned 54.21% of Maruti as of June 30, last week said they wanted toCG 11,786 12,050 -2.19% end the alliance. Alfa Laval India shares hit the daily 20% upper limit after the Companys parent Alfa Laval Corporate AB, Sweden said it aims to obtain full ownership of its Indian subsidiary and seek delisting of the shares from the BSE and the NSE. The company plans to make a delisting offer by acquiring the 11.23 per cent of the equity capital that was with public shareholders with the promoter’s stake being 88.77 per centBSE Upper Circuit Breakers of the equity.Company Name 19-Sep 16-Sep % ChangeSAYAJI HOTELS 133 121 10.00 Kavveri Telecom rallied after the telecom equipment maker said it has signed a 10-yearAdor Multi 20.0 19.0 5.00 contract with an Indian GSM operator to provide in-building wireless solutions. TheAVT Nat Products 413.8 394.1 5.00 agreement, signed by its subsidiary Kavveri Telecom Infrastructure Ltd., would provide a substantial long-term revenue source for the unit.BISIL PLAST 0.6 0.6 5.00 0EVERONN 349.7 333.1 5.00 PSL shares surged after the company said that its Mississippi-based subsidiary PSL North America LLC had received orders for Rs. 2.7bn from large US-based pipeline operators. GTL and GTL Infra shares rose after reports said that the debt-strapped company had received approval from lenders for the proposed corporate debt restructuring (CDR). The meeting of the lenders was held on Monday, reports said. GTL and GTL Infra areBSE Lower Circuit Breakers embroiled in a debt restructuring exercise with 25 banks. GTL has debts of about Rs. 60bn 19-Sep 16-Sep % Change and GTL Infra has debts of about Rs. 110bn.Company NameAmradeep Inds 10 11 (5.00) Axis Bank, India’s third largest private Bank announced the launch of MyDesignDaulat Sec 6.9 7.2 (5.00) Card, India’s first Debit Card launched by an Indian bank which allows the customer toHasti Finance 61.0 64.2 (5.00) incorporate a personal image of his/her choice on the Debit Card.Hindustan Fluoro 14.1 14.8 (5.00)Karma Ind 42.9 45.1 (5.00) With the confrontation between workers in Manesar and the Maruti Suzuki management intensifying, the labour department of Haryana on Monday distanced itself from the negotiations, saying it would not be involved in the talks any further. Animation and visual effects firm DQ Entertainment (International) will announce two multi-million dollar licensing deals in October for broadcasting, merchandising and publishing, a top official told Reuters on Monday. Tata Motors-owned Jaguar Land Rover on Monday confirmed fresh investment of £355 million (about Rs 2,655 crore) in a new facility to manufacture advanced technology, low- emission engines in the United Kingdom.COMMODITY 19-Sep 16-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 110 111 (1.20)Gold (Rs/10gm) 28,109 27,748 1.30 Brent Crude Oil ended lower at $110 per barrel. Gold ended higher by 1.30 percent at Rs 28,109 and Silver closed up by 0.28 percent at Rs 64,553.Silver (Rs/kg) 64,553 64,373 0.28CURRENCY 19-Sep 16-Sep % Change The Indian Rupee closed lower against the dollar at Rs 47.77 as the Indian equityINR / USD 47.77 47.26 1.08 benchmarks ended on a negative note.USD / Euro 1.36 1.37 (0.73)Yen / USD 76.68 76.72 (0.05)
  • 3. Sept 20, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSDCHL 56.7 57.2 0.97 Following a successful Frankfurt International Motor Show and recent discussionsTRIVENI 22.9 23.1 0.66 between Jaguar Land Rover and UK Government ministers, JLR confirms a £355 millionINDIACEM 71.4 71.8 0.63 investment in a new facility to manufacture all-new, advanced technology, low-GVKPIL 16.9 17.0 0.59 emission engines in the UK.POLARIS 130.2 130.9 0.58SREINFRA 34.8 35.0 0.58 United States President Barack Obama is expected to announce about US$1.5 trillion inNATIONALUM 65.3 63.6 (2.60) tax increases over the next decade as part of a plan to lower the budget deficit by US$3ASHOKLEY 26.6 26.0 (2.44) trillion, according to reports. Obama’s plan would cut US$248bn from Medicare andABAN 377.4 368.9 (2.27) US$72bn from Medicaid but wouldn’t increase the Medicare eligibility age from 65 toOPTOCIRCUI 238.7 234.0 (1.97) 67. The measures would leave Social Security untouched for now, reports said.SKUMARSYNF 50.1 49.2 (1.80) Credit Suisse is to pay a fine of 150 million euros ($206 million) to end an investigationALOKTEXT 18.3 18.1 (1.09) of its employees in the German city of Duesseldorf over allegations that they helped citizens dodge taxes.INSTITUTIONAL ACTIVITY (Rs Cr) 9-Sep 8-Sep YTDFII Cash Net -219.7 29.3 6,300 The government is tightening the noose around telcos, internet service providersFII Stock Futures 146.78 603.75 4,082 (ISPs), network service providers and search engines in a bid to monitor internet traffic.FII Index Futures -716.45 -23.08 9,815 The exercise is ostensibly for security reasons and to prevent “misuse” of the freedom ofMutual Fund -28.9 -62.2 5,523 speech in cyberspace.VALUATIONS P/E P/B DIV YLDBSE 18.4 3.4 1.5NSE 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 %Maruti Suzuki 1140.8 3.09 Alfa Laval 2351.7 19.69 Gravita India 378.7 19.88Jaiprakash Asso 70.5 2.17 GTL 68.8 8.52 Marathon Next 185.1 16.46Wipro 341.6 0.52 Sun Pharma Adv 79.6 7.21 Himatsingka Seide 36.9 13.02HEROMOTOCO 2210.0 0.39 BOC India 288.0 5.09 CCL Products 196.5 12.61Bharti Airtel 387.0 0.29 BF Utilities 538.1 4.75 Relaxo Foot 407.4 10.98TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Sterlite Inds 129.9 -3.49 Shree Global Trd 334.0 -6.19 Bhagwati Banq 74.5 -7.97L&T 1561.0 -3.02 Pantaloon Retl 245.7 -5.17 Electrotherm 124.5 -6.78Sun Pharma 474.8 -2.62 KGN Inds 20.7 -4.83 Jagatjit Inds 59.1 -5.67ICICI Bank 859.7 -2.42 Simplex Infra 237.3 -4.28 Ferro Alloys 9.9 -5.52DLF 205.1 -2.08 IVRCL LTD 41.7 -3.70 Karma Ind 42.9 -4.99 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEEveronn Education Limited JMP SECURITIES PVT LTD BUY 2.30% 329.5K S Oils Limited VASANTI SHARE BROKERS LIMITED BUY 1.05% 12.3UFLEX Limited WISDOMTREE TRUST BUY 2.55% 170.9Novopan Industries INDIRA KRISHNA REDDY SELL 0.86% 43.9Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9BSEArora Fibres GREENFIELD DEVELOPERS BUY 1.56% 27.5BGIL Films S. K. INVESTMENTS BUY 1.89% 6.3Gemstone Invest JINAL APURVA RAWAL SELL 2.25% 8.9SV Electricals PARIND SUSHIL PAREKH SELL 1.80% 11.2Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1

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