Daily Newsletter - Sep 22, 2011

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Daily Newsletter - Sep 22, 2011

  1. 1. Sept 22, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 21-Sep 20-Sep % Change COMMENTARYBSE Sensex 17,065 17,099 (0.20) INDIANSE Nifty 5,133 5,140 (0.14) The Indian stock indices could not do an encore to the previous session’s frenzied rally, as investors chose toBSE Midcap 6,476 6,429 0.73 be cautious ahead of the important announcement from the FOMC in the US later on Wednesday. GlobalBSE Smallcap 7,352 7,300 0.71 cues were also mixed as investors remained wary of Greece’s ongoing talks with international lenders onNifty Junior 10,311 10,216 0.93 securing approval for a second bailout. The Indian market never looked like getting into an upswing like theyCNX Midcap 7,468 7,392 1.03 did on Tuesday and instead remained more or less lackluster. The NSE Nifty ended almost unchanged at the end of a choppy trading session. Technically, the neckline of the Inverted Head and Shoulder continues to act as resistance for Nifty. Finally, the BSE Sensex ended at 17,065, slightly down 34 points. The NSE Nifty closed at 5,133, down 7 points. The broader markets, however, performed comparatively firm with the BSEGLOBAL MARKETS 21-Sep 20-Sep % Change mid-cap index having ended at 6,477 and the small-cap index having shut at 7,352, up 0.7% each.Dow Jones Ind (USA) 11,125 11,409 (2.49) The overall market breadth was positive as 1,611 stocks advanced against 1,226 declining ones out of 2,964Nasdaq Composite(USA) 2,538 2,590 (2.01) stocks, on the BSE.S&P 500 (USA) 1,167 1,202 (2.96)FTSE 100 (UK) 5,288 5,364 (1.40) GLOBAL MARKETSDAX (Germany) 5,434 5,572 (2.47) U.S. stocks slumped, giving the Standard & Poor’s 500 Index its biggest decline in a month, as the FederalNikkei 225 (Tokyo) 8,741 8,722 0.23 Reserve announced plans to buy USD 400bn of long- term debt and cited risks to the economic outlook. TheHang Seng (Hong Kong) 18,825 19,015 (1.00) S&P 500 fell 2.9 percent to 1,167. The benchmark gauge for American equities has dropped 4.1 percent inShanghai Comp (China) 2,513 2,448 2.66 three days. The Dow Jones Industrial Average lost 283 points, or 2.5 percent, to 11,124. Moody’s Investors Service cut credit ratings on three banks (BoA, Wells Fargo, Citigroup) and the Fed said “strains in globalKOSPI (South Korea) 1,855 1,838 0.91 financial markets” were among risks to the economic outlook. The Fed will replace some shorter-term debt inSTI (Singapore) 2,792 2,781 0.40 its portfolio with longer-term Treasuries.MSCI Emerging Market 368 367 0.27 Asian stocks and oil slumped, while South Korea’s won slid to a one-year low, after the Federal ReserveMSCI Frontier Market 492 493 (0.20) flagged “significant downside risks” to the economy and Moody’s Investors Service cut debt ratings on U.S. banks. Nikkei is down 1.6 percent, Hang Seng is down 3.3 percent, Strait Times is down 1.5 percent. SGX Nifty is trading at 5066, down 69 points, indicating a gap-down opening.BOND MARKETS 21-Sep 20-Sep Change10yr G-Sec Yield 8.32 8.33 (0.01) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 Union Coal Minster, Sriprakash Jaiswal on Wednesday disclosed that Coal India Ltd. would shortlyLIBOR (6m) 0.31 0.31 0.00 liquidate 28 Million Tonnes (MT) of coal in remaining part of current fiscal and supply it to various powerLIBOR (1m) 0.21 0.21 0.00 plants and thus bring down the gap between its demand and supply at 114 MT against envisagedInterbank Call rate 8.29 8.29 0.00 quantity of 142 MT of coal. The Minister, however, clarified that CIL would accomplish the job of 28 MT of coal liquidation subject to availability of rakes. Gravita India Ltd has acquired the remaining 20% stake in Metal Inc. and the unit is expected to add as BSE Turnover Rs Cr(000) Sensex much as Rs400 mn to revenue. 17200 3.0 17100 Maruti Suzuki, Indias largest car maker, will invest nearly $1.3 billion (Rs 6,300 cr approx) to set up a 2.5 new plant, likely in Gujarat, its chairman told Reuters on Wednesday. 17000 2.0 16900 Sterlite Technologies Limited “Sterlite” , a leading global provider of transmission solutions for the 1.5 16800 power and telecom industries, announced that it has received a contract from BSNL, for deployment of 16700 1.0 a central office broadband system in telecom circles, pan India. The Company would install and 0.5 commission the system within FY13 and would manage this network for 7 years thereafter. 16600 16500 0.0 Technology products distributor Redington India Ltd has been appointed to distribute Dell Inc laptops 15-Sep 16-Sep 19-Sep 20-Sep 21-Sep across all large format retails (LFR) in the country, a top official told Reuters on Wednesday. Infrastructure Development Finance Company (IDFC) is planning to raise up to Rs 5,000 crore through tax-saving bonds in the current fiscal.. NSE Turnover Rs Cr(000) Nifty 5160 16 Billionaire Indian brothers Malvinder and Shivinder Singhs Fortis Healthcare International has pulled 5140 14 out of talks to buy a controlling stake in Turkish hospital group Acibadem. 5120 12 5100 88.38 #DIV/0!10 5080 State-run Power Finance Corp (PFC) has received the RBIs approval to raise $1 billion (Rs 4,600 crore) 5060 8 via offshore medium-term note borrowing, which will mark its debut in the international bond market, a 5040 6 company source with knowledge of the deal told Reuters. 5020 4 5000 Hotel chain operator Royal Orchid Hotels Ltd plans to add a new brand in the Indian mid-market space 4980 2 in the next couple of months to expand its portfolio, a top official said on Wednesday. 4960 0 15-Sep 16-Sep 19-Sep 20-Sep 21-Sep
  2. 2. Sept 22, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 21-Sep 20-Sep % Change CORPORATE NEWSCD 6,984 6,845 2.04% Franklin Templeton Private Equity Strategy, a private equity portfolio managed byBANKEX 11,360 11,252 0.96% Franklin Templeton Asset Management (India) Private Limited, ("FT India"), and advised byREALTY 1,838 1,823 0.83% Darby Asia Investors (India) Limited (“Darby India”) the private equity affiliate withinPSU 7,759 7,721 0.50% Franklin Templeton Investments group has invested Rs. 450mn in Symbiotec PharmalabPOWER 2,223 2,214 0.43% Limited.HC 6,014 5,995 0.31% SpiceJet Limited, India’s most preferred budget airline, commenced commercialCG 11,826 11,819 0.06% operations at Vizag with its much-awaited Q-400 aircraft with daily flights to Tirupati andTECk 3,259 3,262 -0.09% Bangalore. SpiceJet is also increasing its service of the Vizag-Hyderabad route with theFMCG 3,934 3,940 -0.14% introduction of their 3rd daily flight from the 28th September on the Q-400 aircraft.IT 5,203 5,216 -0.26%METAL 12,318 12,350 -0.26% Reliance Retail reportedly expects its sales to enhance 20% this fiscal year at stores openAUTO 8,899 8,981 -0.91% at least a year on the back of steady consumer spending, ruling out any slowdown due toOIL&GAS 8,742 8,844 -1.16% high inflation and rising interest rates. According to reports, the company is confident of achieving 20% same-store sales growth across our formats in the current fiscal, despite the current market conditions.There had been no impact on spending at its value retail and electronics segments. Asian Paints Ltd. said on Wednesday that its Board of Directors has approved the Composite Scheme for Merger and Demerger, whereby PPG India Pvt. Ltd., PPG CoatingsBSE Upper Circuit Breakers India Pvt. Ltd. (subsidiaries of PPG in India) and AP Coatings Ltd. (wholly owned subsidiaryCompany Name 21-Sep 20-Sep % Change of the Company) will merge with Asian PPG Industries Ltd. (APPG) APPG is a 50:50 jointZANDUREALTY 2,071 1,726 20.00 venture between Asian Paints and PPG Industries Inc., USA. The Scheme then provides forMarathon Next 215.5 179.6 20.00 the demerger of the Liquid Industrial Paints, Powder Coatings and Protective CoatingsInvestment & Prec 76.0 63.4 20.00 businesses from APPG into the second Joint Venture Company.Modern Dairies 16.8 15.3 10.00 0 Non-availability of gas and land acquisition issues may force state-owned power utilityT&I Global 18.8 17.1 10.00 NTPC to scale down its capacity addition target of 75,000 MW for the 12th Five-Year Plan to 66,000 MW. After roping in Nippon Life in the life insurance business, Reliance Capital is now looking to sell 26 per cent stake in Reliance General Insurance Company, its subsidiary. Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already startedBSE Lower Circuit Breakers the due diligence process and is expected to complete this by the end of this financial 21-Sep 20-Sep % Change year.Company NameAVT Nat Products 413 434 (5.00) IT company HCL Technologies said it has inked a five-year, multi-million dollar deal withBinayak Tex 565.3 595.1 (5.00) Deutsche Banks capital markets arm to provide applications support solutions.Carnation Inds 12.6 13.2 (5.00)Industrial & Pru 1,376.6 1,449.0 (5.00) Titan Industries, part of the Tata group, is looking to enter Indonesia in six monthsNeha Intl 105.8 111.3 (5.00) through a distribution tie-up, Bhaskar Bhat, managing director, said on the sidelines of the India Retail Forum on Wednesday. GMR Infrastructure, the Bangalore-based infrastructure developer, is setting the stage to raise private equity in its road business. According to investment bankers, the company may be looking to raise around Rs 960 crore over a period to infuse equity in various new projects in this vertical. The merger of ACC and Ambuja Cements, the companies controlled by Holcim, the Swiss cement major, has been deferred indefinitely.COMMODITY 21-Sep 20-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 111 110 1.16Gold (Rs/10gm) 28,057 27,984 0.26 Brent Crude Oil ended up at $111 per barrel. Gold ended higher by 0.26 percent at Rs 28,057 and Silver closed up at Rs 64,,970.Silver (Rs/kg) 64,970 64,522 0.69CURRENCY 21-Sep 20-Sep % Change The Indian Rupee closed lower against the dollar at Rs 48.32 as the Indian equityINR / USD 48.32 47.98 0.71 benchmarks ended on a negative note.USD / Euro 1.36 1.37 (0.73)Yen / USD 76.37 76.57 (0.26)
  3. 3. Sept 22, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSTRIVENI 24.7 24.9 0.81 The Indian economy would grow at a slower pace this year and next compared to theFSL 12.8 12.9 0.78 projections made in June, the International Monetary Fund (IMF) said on Tuesday. ItAREVAT&D 221.3 223.0 0.75 cited moderation in investments and the deteriorating global macro-economicSREINFRA 34.7 35.0 0.72 backdrop as the chief reasons for scaling down its India growth forecast.ADANIENT 619.0 623.4 0.71 Indias GDP would expand by 7.5-7.75% in 2011, the IMF said in its latest WorldGLAXO 2069.8 2,084.2 0.70 Economic Outlook confirming.ASHOKLEY 26.6 26.1 (1.88)KSOILS 11.1 11.0 (0.90) Advance tax payments from top 100 Indian companies grew by 9.9% to Rs. 317.07bn inJINDALSAW 131.2 130.1 (0.88) the July-September quarter from the year ago period, a Finance Ministry official wasMOSERBAER 23.2 23.0 (0.86) quoted as saying on Wednesday.Advance taxes paid by the nation’s top 100 companies in the first two quarter of FY12 rose by 12%, according to the Finance Ministry. TotalBHUSANSTL 343.5 340.8 (0.79) advance tax figures for the April-September period now stand at Rs. 930bn, up 9.4%UNIONBANK 242.2 240.6 (0.68) over the year ago period. The Government hopes to meet the FY12 direct tax target of Rs. 5.33 trillion, a spokesman for the Central Board of Direct Taxes told reporters in NewINSTITUTIONAL ACTIVITY (Rs Cr) 13-Sep 12-Sep YTD Delhi today. India’s direct tax collections were up 6.6% to Rs. 1.8 trillion as of Sept.FII Cash Net -369 -779.2 5,150 15, he said.FII Stock Futures 289.3 -83.85 4,287FII Index Futures 132.61 -1075.25 8,873 SABMiller plc announces that it has agreed with Fosters Group Limited a recommendedMutual Fund -62 -93.9 5,367 cash offer to Fosters shareholders at A$5.10 per share, which values Fosters equity at approximately A$9.9 billion.VALUATIONS P/E P/B DIV YLDBSE 18.4 3.4 1.5NSE 18.2 3.1 1.4BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %ICICI Bank 901.5 2.15 Prism Cement 47.2 12.78 Marathon Next 215.5 19.99Jaiprakash Asso 74.0 2.14 Strides Arco 339.3 11.98 Inox Leisure 55.1 16.38Coal India 384.2 1.57 Glodyne Tech 374.9 11.58 Gravita India 421.1 15.50Wipro 355.5 1.30 Bajaj Hind 43.3 9.02 NOCIL 18.1 14.24SBI 2006.8 0.89 JSL 110.3 7.61 NDTV 56.7 13.64TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %HEROMOTOCO 2138.3 -3.06 Responsive Inds 107.0 -5.10 KS Oils-$ 11.1 -10.52Hindalco Inds 146.0 -2.80 Himadri Chem 49.3 -3.24 NOUVEAU 6.9 -9.54Maruti Suzuki 1124.1 -2.65 Rajesh Exports 134.3 -3.17 Bhagwati Banq 81.1 -7.95RIL 838.1 -1.57 India Infoline 75.2 -3.16 Mangalore Chem 33.7 -5.20Bajaj Auto 1603.2 -1.49 A2Z Maint & Engg 232.9 -2.76 Clarus Finance 129.4 -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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