Daily Newsletter - Sep 29, 2011

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Daily Newsletter - Sep 29, 2011

  1. 1. Sept 29, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 28-Sep 27-Sep % Change COMMENTARYBSE Sensex 16,446 16,524 (0.47) INDIANSE Nifty 4,946 4,972 (0.52) After having spent most of the day in the negative, stocks declined on Wednesday and ended marginallyBSE Midcap 6,175 6,230 (0.88) lower as weakness in the global markets rubbed off on the bourses. The trend was fairly choppy and the keyBSE Smallcap 6,949 7,017 (0.97) indices were stuck in a narrow trading range throughout the day. The Nifty did manage to turn positive forNifty Junior 9,885 9,935 (0.50) some time, hitting a high of 5006. However, it was unable to sustain as multiple resistance levels are placedCNX Midcap 7,109 7,170 (0.84) in the zone of 4990-5030. Among the sectoral indices, BSE Capital Goods and Metal led the losses, having shed nearly 2% each. The core sector industries growth in August grew at the slowest pace in 11 months. The output of eight infrastructure industries rose by 3.5%, down from 7.5% in July, which dampened theGLOBAL MARKETS 28-Sep 27-Sep % Change sentiment on Dalal-Street. Finally, the BSE Sensex ended at 16,446, down 78 points. It had earlier touched aDow Jones Ind (USA) 11,011 11,191 (1.61) days high of 16,663 and a days low of 16,363 after opening at 16,663. The NSE Nifty closed at 4,946, down 25 points.Nasdaq Composite(USA) 2,492 2,547 (2.17) The overall market breadth was negative as 1,759 stocks declined against 1,045 advancing ones, on theS&P 500 (USA) 1,151 1,175 (2.07) Bombay Stock Exchange.FTSE 100 (UK) 5,218 5,294 (1.44) GLOBAL MARKETSDAX (Germany) 5,579 5,628 (0.89) U.S. stocks tumbled, halting a three-day rally, and the euro reversed an early gain versus the dollar asNikkei 225 (Tokyo) 8,615 8,610 0.07 investors watched for signs of progress in Europe’s efforts to stem the government debt crisis. The EuropeanHang Seng (Hong Kong) 18,011 18,130 (0.66) Commission is resisting a push to impose bigger write-downs on bank holdings of Greek sovereign debtShanghai Comp (China) 2,392 2,415 (0.95) than those previously agreed on, a European official said. The European Union proposed a financial-KOSPI (South Korea) 1,723 1,736 (0.72) transaction tax to take effect in 2014 and Spain and Italy extended temporary bans on short selling ofSTI (Singapore) 2,701 2,726 (0.91) financial shares. The Standard & Poor’s 500 Index lost 2.1 percent to 1,151 after climbing 0.8 percent earlier and rallying 4.1 percent over the previous three sessions.MSCI Emerging Market 346 330 4.85 Asian stocks are trading lower and commodities have extended the previous day’s declines amid concernMSCI Frontier Market 481 479 0.42 European policy makers will struggle to stem the region’s debt crisis. Nikkei is down 1 percent, Shanghai is down 0.55 percent and Strait Times is down 0.5 percent. SGX Nifty is trading down 31 points, at 4910 indicating a weak start.BOND MARKETS 28-Sep 27-Sep Change10yr G-Sec Yield 8.28 8.29 (0.01) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 Unichem Laboratories has earmarked Rs 120 crore for capital expenditure plans in the current financialLIBOR (6m) 0.21 0.23 (0.02) year, including the establishment of a new SEZ formulations plant and an R&D centre.LIBOR (1m) 0.16 0.16 0.00Interbank Call rate 8.28 8.29 (0.01) Mumbai-based Ipca Laboratories plans to acquire a pharmaceutical company in Indonesia with a view to enter the largest South-East Asian market. The company has put together a $20 million war-chest for the acquisition, to be made within the next few months, said Kuala Lumpur-based Sugumaran, adding that a number of companies have been shortlisted, though he kept the names confidential. BSE Turnover Rs Cr(000) Sensex 16600 3.5 State-run NMDC said it will sign an agreement with Russias Severstal by December to set up a three 16500 3.0 million tonnes per annum steel plant in Karnataka under a 50:50 joint venture. 16400 2.5 16300 State-run NTPC said it has tied up a syndicated loan worth Rs 2,341 crore from a consortium of Indian 2.0 banks for its 390-MW Muzaffarpur thermal power project in Bihar. NTPC Kanti Bijlee Utpadan Nigam 16200 1.5 Limited, a subsidiary of NTPC Limited, has achieved financial closure on its Muzaffarpur thermal power 16100 project, consisting of two units of 195 MW each, an official statement reported. 16000 1.0 15900 0.5 Rane Group has reportedly diversified into Defence and aerospace with Rane Holdings Ltd acquiring 15800 0.0 26% equity stake in SasMos HET Technologies. According to reports, Rane Group has been scouting for 22-Sep 23-Sep 26-Sep 27-Sep 28-Sep opportunities beyond the automotive sector. With the Indian Government permitting private participation in Defence and aerospace, the group saw promise in SasMos, which manufactures products such as cable assemblies, wiring harness, panel boxes, and electro-mechanical assemblies used in aerospace and Defence. The financial details of the acquisition were not revealed. Rane has the NSE Turnover Rs Cr(000) Nifty option to increase its stake in SasMos, added reports. 5000 14 12 Private sector banks are set to get some relief from the Reserve Bank of India (RBI) on promoters’ stake. 4950 10 The regulator had earlier asked these banks to submit a road map and give a time frame for paring 88.38 #DIV/0! promoters’ shareholding to 10 per cent, but the central bank is now in favour of increasing that limit to 4900 8 15 per cent. 4850 6 4 Pipavav Shipyard on Wednesday announced a tie-up with aircraft maker Airbus to develop 4800 maintenance, repair and overhaul (MRO) unit in India, with an initial investment of $100 million (Rs 450 2 crore). 4750 0 22-Sep 23-Sep 26-Sep 27-Sep 28-Sep
  2. 2. Sept 29, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 28-Sep 27-Sep % Change CORPORATE NEWSFMCG 3,892 3,856 0.93% Kingfisher chief Vijay Mallya announced that the company would "do away" with its low-IT 5,232 5,184 0.93% cost subsidiary as there are "enough" passengers for the full-service carrier.HC 5,910 5,885 0.43%REALTY 1,794 1,788 0.33% HCL Learning, an education and talent development division of HCL InfosystemsTECk 3,240 3,233 0.22% Ltd., India’s leading ICT System Integration, Services, Hardware and DistributionOIL&GAS 8,425 8,417 0.10% Company bagged two prestigious awards for their state-of-the-art programs Digischool & Xcelerate.PSU 7,498 7,509 -0.14%POWER 2,139 2,156 -0.80% Essar Energy plc, the India-focused integrated energy company, has announced theAUTO 8,452 8,553 -1.18% appointment of Volker Schultz as chief executive officer of its key Essar Oil UKBANKEX 10,895 11,033 -1.25% subsidiary, which includes the Stanlow Refinery.CD 6,384 6,498 -1.75%METAL 11,267 11,470 -1.77% DLF shares extended its Tuesdays 8.46% rally triggered by reports the company has soldCG 10,970 11,204 -2.09% 10.8 acres in Gurgaon to a Dubai-based Indian investor for Rs. 280 crore, as part of its efforts to reduce the debt burden. Securities and Exchange Board of India (SEBI) accorded approval to the proposed SME Exchange by BSE Ltd. on September 27, 2011. Small and medium enterprises (SMEs) have always complained of difficulty in accessing both debt and equity capital. While the government has taken several measures to ease access to credit, giving them easierBSE Upper Circuit Breakers access to equity is the next step in that process.Company Name 28-Sep 27-Sep % ChangeESSAR SECU 45 41 10.00 The total approximate earnings of Indian Railways on originating basis during the periodSanraa Media 0.1 0.1 10.00 from 11th to 20th September 2011 were Rs. 2495.07 crore compared to Rs. 2299.20 croreUniflex Cables-$ 14.9 13.5 10.00 during the same period last year, registering an increase of 8.52%. The total goods earnings have gone up from Rs. 1497.40 crore during the period from 11th to 20thNCL Research 198.9 189.4 5.00 0 September 2010 to Rs. 1614.48 crore during 11th September – 20th SeptemberPharmaids Phar 4.0 3.8 5.00 2011, showing an increase of 7.82%. The total passenger revenue earnings during the period 11th to 20th September 2011 were Rs. 780.38 crore compared to Rs. 713.47 crore during the same period last year, reflecting an increase of 9.38%. Mahindra Insurance Brokers Limited (MIBL), a 100% subsidiary company of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), has received approval fromBSE Lower Circuit Breakers the Insurance Regulatory and Development Authority (IRDA) to enter the ReinsuranceCompany Name 28-Sep 27-Sep % Change Broking business.PG ELECTRO 395.20 494 (20.00) Datamatics Global Services (DGSL), the global Information Technology (IT) andShree Global Trd 282.4 313.8 (10.00) Knowledge Process Outsourcing (KPO) organization partner to several fortune 500Chhattisgarh Inds 4.2 4.6 (10.00) companies globally for delivering next generation business solutions, is setting up aIndus Finance Corp 118.2 124.4 (5.00) Centre of Excellence centre at Puducherry next month.KSERASERA-$ 8.8 9.2 (5.00) Indias largest jewellery retailer Gitanjali Gems plans to invest Rs 150 crore to set up 50 stores under its new multi-brand jewellery format Jewel Souk, a senior official said on Wednesday. Leading engineering and construction company Punj Lloyd Group said it had bagged a contract worth Rs 1,195 crore from Haldia Energy, a wholly-owned subsidiary of Calcutta Electric Supply Company (CESC) for its 600 MW thermal power project. The project will boost the power supply in Kolkata and its suburbs, and is scheduled to be commissioned by 2014, the company said in a statement issued here.COMMODITY 28-Sep 27-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 104 106 (2.32)Gold (Rs/10gm) 25,680 26,337 (2.49) Brent Crude Oil ended down by 2.32% at $104 per barrel. Gold ended lower by 2.49 percent at Rs 25,680 and Silver closed down by 7.40percent at Rs 50,406.Silver (Rs/kg) 50,406 54,435 (7.40)CURRENCY 28-Sep 27-Sep % Change The Indian Rupee closed higher against the dollar at Rs 48.75 as the Indian equityINR / USD 48.75 49.09 (0.69) benchmarks ended on a negative note.USD / Euro 1.36 1.35 0.74Yen / USD 76.49 76.43 0.08
  3. 3. Sept 29, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSRUCHISOYA 126.1 128.0 1.51 Industry body Assocham called for developing multi-speciality health city here, basedEKC 72.3 73.1 1.11 on a public-private-partnership model, to tap into medical tourism potential in thePIRHEALTH 349.1 352.8 1.05 state. The proposal envisages various super-speciality hospitals for patients seekingBOSCHLTD 7110.1 7,169.1 0.83 treatment of international standards by highly trained, English-speaking healthcareABGSHIP 397.1 400.0 0.74 professionals at affordable prices, Assocham said in a statement.PATNI 291.0 293.0 0.69INDIANB 216.9 213.5 (1.54) The worlds largest retailer Walmart said its investments in India will grow manifold ifMOSERBAER 21.9 21.6 (1.37) foreign direct investment regulations on multi-brand retail are relaxed in the country.3IINFOTECH 26.7 26.3 (1.31) Walmart said it will ramp up its investment here to strengthen supply chains andBAJAJHIND 38.6 38.1 (1.30) enhance direct linkages with farmers in order to provide "quality products at affordable" prices to Indian consumers.SAIL 107.1 105.8 (1.17)ARVIND 99.3 98.2 (1.11) With an aim to further liberalise the capital market, the government is contemplating to allow foreign individuals -- Qualified Foreign Investors (QFIs)-- to buy equities directlyINSTITUTIONAL ACTIVITY (Rs Cr) 19-Sep 19-Sep YTD in stock markets, a senior Finance Ministry official said.FII Cash Net 378.7 -4 6,077 Currently, only overseas High Networth Individuals (with a minimum networth of $50FII Stock Futures -321.45 -254.6 4,791 million), which are registered as sub-account of Foreign Institutional Investors (FIIs), areFII Index Futures 99.21 -34.12 14,014 allowed to participate in the stock market.Mutual Fund -109.8 -78.6 5,278VALUATIONS P/E P/B DIV YLDBSE 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 %DLF 224.05 3.08 Hexaware Tech 83.6 6.57 Excel Crop 158.6 15.47ITC 196.95 1.91 MVL 26.1 5.67 Gokaldas Expo 101.7 11.64NTPC 168.15 1.6 KGN Inds 28.5 4.98 Amtek India 130.2 9.14ONGC 262.1 1.29 Jain Irrigation 154.0 3.77 Jamna Auto 134.2 8.40Infosys 2474.85 1.18 GODREJ PROP 662.0 3.57 Gemini Comm 24.9 8.26TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Jaiprakash Asso 70.0 -4.37 Shree Global Trd 282.4 -9.99 Man Infra 118.0 -8.77L&T 1404.25 -2.9 HATHWAY CAB 94.6 -8.11 DEN NETWORK 66.6 -8.39Maruti Suzuki 1074.6 -2.83 Max India 191.3 -6.77 Gammon India 70.4 -8.33Tata Steel 427.45 -2.66 Jet Air India 248.2 -6.20 Parrys Sugar 88.0 -8.33Bharti Airtel 378.75 -2.16 Rolta India 88.9 -5.83 KS Oils 9.9 -6.79 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

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