Daily Newsletter - Sep 5, 2011

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Daily Newsletter - Sep 5, 2011

  1. 1. Sept 5, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 02-Sep 30-Aug % Change COMMENTARYBSE Sensex 16,821 16,677 0.87 INDIANSE Nifty 5,046 5,013 0.66 The Indian stock indices closed higher on Friday despite a weak trend across world markets, as marketBSE Midcap 6,325 6,274 0.81 players bet on the nations strong macro-economic fundamentals helped by some signs of improvement inBSE Smallcap 7,134 7,131 0.03 FII buying. The NSE Nifty shut shop above the 5000 mark for the first time since August 17. Barring a briefNifty Junior 10,121 9,996 1.25 scare in the afternoon, the undercurrent on the domestic bourses was positive throughout the session. The Indian stock indices had posted strong gains in the first two sessions of the previous week on the back ofCNX Midcap 7,343 7,309 0.46 recovery in world equities and improvement in FII flows. Friday’s upswing was led by metals, oil & gas, auto and realty stocks. Even the mid-cap stocks saw some buying in trade. However, the BSE Small-Cap index ended almost unchanged. Finally, the BSE Sensex ended at 16,821, adding 144 points. It had earlier touchedGLOBAL MARKETS 02-Sep 01-Sep % Change a days high of 16,989 and a days low of 16,688 after opening at 16,963. The NSE Nifty closed at 5,046,Dow Jones Ind (USA) 11,240 11,494 (2.20) adding 46 points.Nasdaq Composite(USA) 2,480 2,546 (2.59)S&P 500 (USA) 1,174 1,204 (2.53) GLOBAL MARKETSFTSE 100 (UK) 5,292 5,419 (2.34) The US equity markets ended sharply lower on Friday on the back of disappointing jobs report, whichDAX (Germany) 5,538 5,731 (3.36) renewed fears of recession. The unemployment rate has remained at 9.1%. The disappointing August non-Nikkei 225 (Tokyo) 8,951 9,061 (1.22) farm payrolls report was bad for the first time since September 2010. The US Labor Department said employers added no new jobs in August, compared with a downwardly revised increase of 85,000 jobs inHang Seng (Hong Kong) 20,213 20,585 (1.81) July. Analysts polled by Reuters had predicted non-farm payrolls to grow by 75,000. The Dow JonesShanghai Comp (China) 2,528 2,556 (1.09) Industrial Average fell 2.20%, to close at 11,240 led by fall in all 30 stocks. The Nasdaq Composite droppedKOSPI (South Korea) 1,868 1,881 (0.69) 2.59%, to end at 2,480 and the Standard & Poors 500 Index lost 2.53%, to close at 1,174.STI (Singapore) 2,843 2,867 (0.84)MSCI Emerging Market 401 401 0.00 Asian stocks have fallen for a second day, while the Dollar Index headed for its longest winning streak inMSCI Frontier Market 502 504 (0.40) eight months after U.S. job growth stalled last month and discord over Europe’s sovereign-debt crisis worsened. Nikkei is down 1.6%, Hang Seng is down 2% and Strait Times is down 2.4%, Shanghai is down 1% and Kospi is down 2.6%. SGX Nifty is down 82 points, at 4964 indicating a gap-down opening.BOND MARKETS 02-Sep 30-Aug Change10yr G-Sec Yield 8.30 8.32 (0.02) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.30 8.30 0.00 Diversified business entity Hero Motors said that it is aiming to double the size of its business by 2015,LIBOR (6m) 0.39 0.39 0.00 targeting 5% of the total cycles market in the world by then.LIBOR (1m) 0.16 0.16 0.00Interbank Call rate 7.5 8.0 (0.52) Auto major Mahindra & Mahindra (M&M) said it will launch its new global sport utility vehicle, XUV 500 in the domestic market and South Africa simultaneously by December-end. Designed and developed entirely in-house by M&M, the new SUV is Mahindras first global offering with significant inputs in styling and development taken from customers across the globe. BSE Turnover Rs Cr(000) Sensex 16800 3.0 Education services provider Educomp Solutions said it has deferred a proposal to raise up to Rs 1,150 16600 crore ($250 million) through a share sale due to poor market conditions. 2.5 16400 2.0 The countrys largest carmaker Maruti Suzuki India said it rolled out 150 cars from its Manesar plants 16200 with another batch of 125 people joining production operations, even as the impasse between 1.5 16000 management and workers at the first unit of the facility continues.The company brought in another 15800 1.0 batch of 125 ITI-trained and experienced people " Maruti said in a statement, adding that the current 0.5 strength of people now available for production is 800. 15600 15400 0.0 Olam Agro India said it has agreed to acquire Kohlapur-based Hemarus Industries for a consideration of 24-Aug 25-Aug 26-Aug 29-Aug 30-Aug Rs 340 crore. Olam will acquire Hemarus Industries 3,500 tonne crush per day sugar milling facility, a 20 MW co-generation plant and accompanying assets in India for a total purchase consideration of Rs 340 crore. NSE Turnover Rs Cr(000) Nifty Public sector Indian Bank said it has revised upwards interest rates for the Foreign Currency Non- 5050 14 Resident (FCNR) and Non-Resident (External) accounts with immediate effect. Interest rates for deposits 5000 12 of two years and above but less than three years has been fixed at 1.51% against 1.64% previously. 4950 4900 10 88.38 #DIV/0! State-owned iron ore miner NMDC Ltd has signed a contract with BHEL for providing a raw material 4850 8 handling system (RMHS) package to its upcoming three million tonnes per annum (Mtpa) integrated 4800 6 steel plant at Nagarnar in Chhattisgarh. 4750 4 4700 Mumbai-based business process outsourcing firm Firstsource plans to sell US-based MedAssist, a health 4650 2 care business it acquired in 2007. Firstsource had paid $330 million for the acquisition. 4600 0 24-Aug 25-Aug 26-Aug 29-Aug 30-Aug
  2. 2. Sept 5, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 02-Sep 30-Aug % Change CORPORATE NEWSMETAL 12,429 12,097 2.75% Undeterred by the slowdown in the four-wheeler segment, two-wheeler major BajajCD 6,400 6,263 2.19% Auto said it aims to sell over 4 million units this financial year.OIL&GAS 8,534 8,353 2.16%AUTO 8,572 8,396 2.09% The Society of Indian Automobile Manufacturers (SIAM) said that the ongoing stand-offREALTY 1,770 1,740 1.73% between Maruti Suzukis management and workers at the Manesar plant was likely to impact the domestic passenger car segment, which had already been witnessing aFMCG 3,996 3,950 1.17% slowdown, if the dispute prolonged.HC 6,030 5,962 1.13%PSU 7,666 7,616 0.66% Shareholders of JB Chemicals and Pharmaceuticals have approved the boards decisionBANKEX 10,950 10,904 0.42% to sell the prescription product portfolio in Russia and the CIS region to Dr Reddy’sCG 12,029 12,047 -0.14% Laboratories.TECk 3,188 3,205 -0.53%POWER 2,211 2,233 -0.97% Ind Swift Laboratories said it would raise funds up to Rs 500 crore through issue ofIT 4,996 5,062 -1.31% securities in domestic and international markets. Jubilant FoodWorks (JFL), which operates Dominos Pizza chain, announced its entry into the Sri Lankan market with the opening of its first store in Colombo. Europes largest home appliances maker BSH Bosch along with Siemens Group is looking at investing Rs 479.27 crore for setting up a manufacturing facility in TamilBSE Upper Circuit Breakers Nadu. The German company, through its subsidiary BSH Household AppliancesCompany Name 02-Sep 30-Aug % Change Manufacturing, plans to manufacture home appliances at the unit.DELTON CABLES 67 56 20.00INFINITE COMPUTER SOLUTIONS 78.7 71.5 10.00 NTPC has warned that power supply to Anil Ambani groups distribution companies inAVANTI FEEDS 63.4 57.6 10.00 Delhi -- BSES Rajdhani and BSES Yamuna -- would be stopped if they do not clear duesCITURGIA BIOCHEMICALS 232.1 221.0 5.00 of over Rs 900 crore. The state-run power generating company, which supplies 2,051 0Mold-Tek Packaging 58.5 55.7 5.00 MW power to the two companies, has served notices asking them to renew the Letter of Credit or the supply could be suspended. Jindal Power, a JSPL subsidiary said its its initial offer, through which it aims to raise up to Rs 7,200 crore, is unlikely to hit the market in the next four-five months.Initially, the company had planned to launch the issue by March this year. It was, however, postponed to end of April. After that there was no communication from JSPL on theBSE Lower Circuit Breakers probable date for the issue.Company Name 02-Sep 30-Aug % ChangeEveronn Education 351.5 439.3 (20.00) SKS Microfinance, which is passing through rough weathers, may approach thePRABHAV INDUSTRIES 111.3 117.1 (5.00) Reserve Bank for a banking licence.SKS Microfinance CEO and Managing Director M RRAJDHANI LEASING & INDUSTRIES 154.2 162.3 (5.00) Rao said the company does not see any major issue in meeting the eligibility criteria set by the Reserve Bank of India (RBI).TRADE WINGS LTD 111.5 117.3 (5.00)BLUE COAST HOTELS 207.0 217.9 (5.00) Mullapudi Harischandra Prasad, chairman and managing director of Andhra Sugars Limited, passed away on Saturday while undergoing treatment at a corporate hospital. He was 90. The crisis in Chennai-based education services provider Everonn Education deepened on Friday, with its non-executive chairman Jamshed J Irani resigning following Tuesday’s arrest of managing director P Kishore in a bribery case. The premium collection of the life insurance industry in India dipped 21.8 per cent to Rs 26,794 crore during the April to July period as against Rs 34,249 crore reported in the corresponding period last year.COMMODITY 02-Sep 01-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 113 115 (1.78) 3.24 Brent Crude Oil ended 1.78 percent lower at $113 per barrel . Gold ended higher byGold (Rs/10gm) 28,081 27,200 3.24 percent at Rs 28,081 and Silver closed up by 3.90 percent at Rs 64,639.Silver (Rs/kg) 64,639 62,220 3.89CURRENCY 02-Sep 30-Aug % Change The Indian Rupee closed higher against the dollar at Rs 45.78 as the Indian equityINR / USD 45.78 46.11 (0.72) benchmarks ended on a positive note.USD / Euro 1.42 1.44 (1.39)Yen / USD 76.80 76.76 0.05
  3. 3. Sept 5, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSGTL 49.8 50.3 1.11 Manufacturing output in India expanded at its slowest pace in 29 months, asULTRACEMCO 1100.1 1,109.6 0.87 slowdown in the global economy hit exports, a survey by HSBC Holding and MarkitTRIVENI 23.2 23.4 0.86 Economics showed on Friday. The HSBC Markit India Manufacturing PMI fell to 52.6 inTTML 18.6 18.7 0.81 August, its lowest since a sub-50 reading in March 2009.BAJAJHIND 56.0 56.4 0.80GODREJIND 201.5 203.1 0.79 Chinas Purchasing Manager Index (PMI) for its non-manufacturing sector dipped toHINDPETRO 379.9 366.9 (3.42) 57.6% in August from 59.6% in July as railway investments fell after a deadly trainIOC 319.0 309.0 (3.13) crash.BGRENERGY 321.0 311.3 (3.02)BHUSANSTL 358.4 347.8 (2.96) Libya’s transitional leadership deployed its forces around cities loyal to Qaddafi, threatening to attack unless they surrendered and extending their search for theSCI 88.0 86.1 (2.16) former leader. Libyan National Transitional Council head Mustafa Abdel Jalil said itsVIPIND 893.7 875.1 (2.08) forces will pressure the cities of Sirte, Bani Walid, Jufra and Sabha until they give up while continuing to supply them with humanitarian aid.INSTITUTIONAL ACTIVITY (Rs Cr) 18-Aug 17-Aug YTDFII Cash Net -1281.7 -407.6 7,460 U.K. Prime Minister will seek a “significant watering down” of a planned overhaul inFII Stock Futures 7.41 490.36 323 banking regulations because the new rules may hurt growth and spur lenders to quitFII Index Futures -326.55 -139.78 8,899 the country,Cameron told senior cabinet officials that any proposals from theMutual Fund -66.2 -33 5,401 Independent Commission on Banking to split banks’ retail and investment units or require lenders to raise capital must be reviewed.VALUATIONS P/E P/B DIV YLDBSE 18.4 3.4 1.5 Bank of America Corp. and JPMorgan Chase & Co. (JPM) were among 17 banks sued by the U.S. to recoup $196 billion spent on mortgage-backed securities bought by FannieNSE 18.2 3.1 1.4 Mae and Freddie Mac.BSE500 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 208.0 5.93 Manappuram Finance 56.0 11.11 Bhagwati Banq 89.0 14.91Tata Steel 488.5 4.26 VIP Inds 892.8 10.14 Tata Metaliks 77.0 10.87Sterlite Inds 133.9 4.04 Parsvnath Dev 54.1 8.20 INFINITE 78.7 10.00Mahindra & Mahindra 766.1 3.87 COX KINGS 214.2 6.99 Honda Siel Power 393.1 9.44Bajaj Auto 1623.6 3.21 Chambal Fert 112.9 6.26 Confidence Petro 11.8 9.14TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Tata Power 1021.1 -2.13 D B CORP 232.7 -5.23 EVERONN 351.5 -20.00TCS 1021.7 -1.82 Electrosteel Steels 7.1 -5.11 Prraneta Inds 34.6 -9.90BHEL 1737.0 -1.74 KGN Inds 30.3 -4.87 JB Chemicals 85.0 -9.58NTPC 166.9 -1.56 SREI Infra 39.9 -4.66 Prakash Inds 49.7 -9.55Infosys 2315.6 -1.16 Bajaj Elect 184.5 -4.63 EDSERV SOFT 100.2 -7.73 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

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