Daily Newsletter - Sep 7, 2011

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  • 1. Sept 7, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 06-Sep 05-Sep % Change COMMENTARYBSE Sensex 16,863 16,713 0.89 INDIANSE Nifty 5,064 5,017 0.94 Markets ended with gains after trading in the negative zone for most part of the day helped by Moody’sBSE Midcap 6,394 6,357 0.59 issuing a positive outlook on Indian government’s rupee debt, firm opening in European stocks and recoveryBSE Smallcap 7,197 7,146 0.71 in IT stocks. The Sensex after touching a low of 16,488 recovered 406 points. The index ended up 149 pointsNifty Junior 10,152 10,149 0.03 at 16,863. Nifty was up 47 points at 5,064. The strong recovery was led by strength in Oil & Gas (RIL), Banking, IT and Auto stocks. The BSE market breadth was positive. Out of 2,920 stocks traded, 1,636 stocks advancedCNX Midcap 7,398 7,377 0.28 while 1,169 stocks declined. The rate sensitive sectors are expected to remain volatile in the near term ahead of Reserve Bank of Indias mid-quarter monetary policy meet. The wholesale price index inflation data for the month of August will be out on September 14. Among global events to watch out, the European CentralGLOBAL MARKETS 06-Sep 05-Sep % Change Bank is expected to keep its key interest rate unchanged at 1.5% at its monthly policy meeting on interestDow Jones Ind (USA) 11,139 11,240 (0.90) rates on Thursday. The Bank of Englands monetary policy is also expected to come in on the same day.Nasdaq Composite(USA) 2,474 2,480 (0.25)S&P 500 (USA) 1,165 1,174 (0.75) GLOBAL MARKETSFTSE 100 (UK) 5,157 5,103 1.06 U.S. stocks fell for a third day, giving the Standard & Poor’s 500 Index its longest slump in almost a month,DAX (Germany) 5,194 5,246 (1.00) amid concern that Europe’s debt crisis is worsening. Equities pared losses in the final 30 minutes of tradingNikkei 225 (Tokyo) 8,591 8,784 (2.21) helped by unexpected growth in US Service economy in ISM August Index. The Institute for Supply Management’s index of non- manufacturing businesses increased to 53.3 last month from 52.7 in July.Hang Seng (Hong Kong) 19,711 19,616 0.48 Economists forecast the gauge would drop to 51. The S&P 500 lost 0.7 percent to 1,165. The benchmarkShanghai Comp (China) 2,470 2,479 (0.34) gauge has fallen 4.4 percent in three days, the longest drop since Aug. 8. The Dow Jones Industrial AverageKOSPI (South Korea) 1,767 1,786 (1.07) slumped 100 points, or 0.9 percent, to 11,139.STI (Singapore) 2,774 2,773 0.04MSCI Emerging Market 382 395 (3.29) Asian stocks have rebounded from a three- day drop after the yen weakened. The Australian dollar climbedMSCI Frontier Market 497 500 (0.60) before data on economic growth, while copper rose for the first time in five days. Nikkei is up 1.4%, Hang Seng is up 0.65% and Strait Times is up 0.95%.BOND MARKETS 06-Sep 05-Sep Change10yr G-Sec Yield 8.28 8.28 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.30 8.30 0.00 Former Samajwadi Party general secretary and Rajya Sabha MP Amar Singh has been arrested inLIBOR (6m) 0.39 0.39 0.00 connection with the cash-for-votes scam.LIBOR (1m) 0.16 0.16 0.00Interbank Call rate 8.0 8.0 (0.03) Sri Lankas state-run electricity board and Indias biggest power producer, NTPC, on Tuesday signed an agreement to set up a coal-fired power plant joint venture worth up to $700 million (Rs 3,200 crore) in the island nation. BSE Turnover Rs Cr(000) Sensex Venus Remedies, a leading research based global pharmaceutical company, plans to launch anti- 16900 3.5 cancer drug, Docetaxel, in Portugal by December. The company’s wholly-owned subsidiary, Venus 16800 3.0 Pharma GmbH, Germany, has already received the mandatory market authorisation (MA) approval in 16700 this regard from the government of Portugal. According to Dr Manu Chaudhary, JMD and 2.5 Director, Research, the company has also filed patent application for Docetaxel. 16600 2.0 16500 1.5 Automobile lighting systems-maker Lumax Industries said it will invest Rs 150 crore to set up three 16400 new facilities and expand the capacity of its existing unit by next year. 16300 1.0 16200 0.5 Auto component-maker Sona Koyo Steering Systems said it will invest Rs 100 crore this fiscal on 16100 0.0 expansion of its production capacity, including the establishment of a new unit as it looks to foray into 29-Aug 30-Aug 2-Sep 5-Sep 6-Sep the commercial vehicles segment. BP Plc is confident of raising output from the key gas field of Reliance Industries Ltd in about two years, a senior executive at the British company said on Tuesday. In July, Indias cabinet had approved NSE Turnover Rs Cr(000) Nifty Reliances plan to sell 30% stake in 21 oil and gas blocks to BP as part of a Rs 33,000 crore ($7.2 billion) 5100 14 deal, making it one of the largest investments in Indias oil and gas sector. 5050 12 10 Auto component maker Rico Auto said it had bagged an export order worth up to Rs 70 crore 5000 88.38 #DIV/0! annually to supply transmission to a global passenger car maker. 8 4950 6 The follow-on public offer (FPO) of ONGC would open on September 20 while the same would close 4900 4 on September 23, according to reports. The Government would offer 42.8 crore shares of ONGC via the 4850 2 FPO while 8.5 crore shares will be reserved for the ONGC employees. 4800 0 Neyveli Lignite reported that it is planning to invest Rs 40,200 crore to build power plants. 29-Aug 30-Aug 2-Sep 5-Sep 6-Sep
  • 2. Sept 7, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 06-Sep 05-Sep % Change CORPORATE NEWSOIL&GAS 8,616 8,383 2.78% Three-wheeler manufacturer Piaggio Vehicles said it would re-enter the scooterIT 4,981 4,924 1.16% segment by introducing its Vespa model by March next year and was also evaluating aCG 12,208 12,076 1.09% possible foray into the motorcycle segment.AUTO 8,766 8,683 0.96%METAL 12,543 12,452 0.73% NTPC Ltd. said on Tuesday that the Company and Ceylon Electricity Board (CEB), Sri Lanka signed the Joint Venture agreement in Colombo. The two companies will set upBANKEX 11,049 10,990 0.53% a 500 MW (2 X 250 MW) coal based power station at Sampur, Trincomalee in the EasternTECk 3,166 3,154 0.39% Province of Sri Lanka. A JV company would be incorporated in Sri Lanka, with equalPSU 7,637 7,623 0.18% equity (50:50) contributions by NTPC and CEB, for implementation of the power project.FMCG 3,983 3,987 -0.11% Report stated that the power plant will be commissioned in 2016.POWER 2,199 2,202 -0.14%HC 5,980 5,990 -0.16% Godrej Consumer Products said it had completed the acquisition of a 51% stake inCD 6,532 6,557 -0.37% African hair care company Darling Group Holdings. Darling Group Holdings operates inREALTY 1,747 1,784 -2.04% 14 countries across Africa, selling hair extension products under brand names like Darling and Amigos. In June this year, Godrej Consumer Products Ltd (GCPL) had announced the acquisition of a 51% stake in Darling Group Holdings for an undisclosed amount. The company had said the acquisition would help scale up its operations in the region and would strengthen its position in the hair care market. Mahindra & Mahindra said it plans to relaunch its Stallio motorcycle by NovemberBSE Upper Circuit Breakers after discontinuing production earlier this year due to faulty components.Company Name 06-Sep 05-Sep % ChangeT & I GLOBAL LTD. 17 15 20.00 Auto component-maker JBM Group said it will make a foray into the vehicleSKM EGG PRODUCTS EXPORT 8.2 6.9 20.00 manufacturing space through a tie-up with a foreign partner for the launch of buses inUNIROYAL INDUSTRIES 5.9 5.4 10.00 India by next fiscal. The company will join hands with a foreign partner to roll out theBINAYAK TEX PROCESSORS 486.2 463.1 5.00 product from 0 new facility to be set up either in North or West India. aAVT NATURAL PRODUCTS 395.1 376.3 5.00 Tata Autocomp is planning to defer $260mn IPO, according to a report. The report stated that the company has withdrawn sale document filed with regulators Gayatri Projects Ltd. said on Tuesday that its Board of Directors has accorded its consent for incorporation a Wholly Owned Subsidiary called Sai Maatarani Tollways Ltd. for executing the four-laning of Panikoili— Rimull section of NH-215 in Orissa.BSE Lower Circuit BreakersCompany Name 06-Sep 05-Sep % Change SMA Solar Technology AG, German based worldwide market leader for photovoltaicEVERONN 253.1 281.2 (10.00) inverters reiterated its continued focus on global growth and expansion by announcingKHODIYAR INDUSTRIES 6.6 7.3 (10.00) its wholly owned Indian subsidiary, SMA Solar India Pvt. Ltd. in Mumbai.TAK MACHINERY & LEASING 174.0 183.1 (5.00) Indias No 1 car maker Maruti Suzuki, is still coping with increasing demand, followingTCM 101.8 107.1 (5.00) the standoff with workers at Manesar, which forced it to stop bookings for its bestPOLYTEX INDIA 239.3 251.9 (5.00) selling premium compact Swift, which have breached the 90,000-mark in a fortnight since launch. Mobile tariffs to reportedly increase in the coming months due to increasing pressure on margins and rising costs have forced operators to increase tariffs. Jaiprakash Associates (JPA), the Jaypee Group flagship, is exploring the option of roping in a strategic partner for its cement business, the third largest in the country.COMMODITY 06-Sep 05-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 111 111 (0.03) (1.23) Brent Crude Oil ended flat at $111 per barrel . Gold ended lower by 1.23 percent at RsGold (Rs/10gm) 28,030 28,378 28,030 and Silver closed down by 2.27 percent at Rs 64,756.Silver (Rs/kg) 64,756 66,263 (2.27)CURRENCY 06-Sep 05-Sep % Change The Indian Rupee closed lower against the dollar at Rs 46.11 as the Indian equityINR / USD 46.11 45.99 0.26 benchmarks ended on a positive note.USD / Euro 1.41 1.41 -Yen / USD 77.26 76.81 0.59
  • 3. Sept 7, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSLITL 16.2 17.7 9.26 Macquarie Group is eyeing a bid for the aircraft leasing business being sold by theSKUMARSYNF 44.4 48.2 8.56 Royal Bank of Scotland, according to sources familiar with the matter, a unit said to beSOBHA 218.0 228.5 4.79 worth more than $6 billion.MINIFTY 4921.9 5,068.0 2.97SREINFRA 40.0 40.7 1.63 Essar Group rejected the allegations made in the US diplomatic cable published onUCOBANK 68.3 69.4 1.61 WikiLeaks that it paid protection money to Maoists, saying it is a law abidingPOWERGRID 100.1 95.8 (4.35) corporate.HINDPETRO 388.5 374.9 (3.49)IOC 316.0 308.3 (2.44) Hyundai Motor and its affiliate Kia Motors signed a deal with Intel Corp to develop anBGRENERGY 333.7 325.5 (2.44) enhanced in-vehicle infotainment (IVI) platform system. The memorandum of understanding (MOU) reached in Seoul calls for the joint development of a platformSCI 86.0 83.9 (2.44) that can allow users to receive entertainment content, as well as location-based andPTC 73.1 71.7 (1.92) social network services in their cars, the carmakers said.INSTITUTIONAL ACTIVITY (Rs Cr) 24-Aug 23-Aug YTD The total value of global mergers and acquisitions (M&A) in the consumer productsFII Cash Net -757.4 -71.7 4,584 sector was a little over $12 billion in the April-June period of 2011, a decline of 46%FII Stock Futures 166.95 148.27 520 from the previous quarter, says a report. According to Ernst & Young, the M&A value inFII Index Futures 338.61 488.49 9,363 the global consumer products sector stood at $12.1 billion in the second quarter ofMutual Fund 94.4 119.8 5,847 this year compared to $22.4 billion seen in the preceding quarter.VALUATIONS P/E P/B DIV YLD Prepayment penalty, faced by individual borrowers of home or car loans, is set to end.BSE 18.4 3.4 1.5 In a meeting with the Reserve Bank of India held on Monday, banks agreed to waive prepayment charges on floating rate loans, the central bank said.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 %RIL 820.9 4.05 Hexaware Tech 79.9 7.98 Hercules Hoist 259.2 16.24Mahindra & Mahindra 794.5 3.31 Educomp Sol 215.9 7.49 Vikas WSP 14.2 15.27Jaiprakash Asso 66.3 2.79 Polaris Soft 126.5 6.93 CCL Products 177.3 12.83Jindal Steel 547.8 2.38 Amtek Auto 147.9 6.79 Tata Coffee 864.8 12.28Sterlite Inds 134.2 2.21 Gujarat State Fert 428.4 6.13 Relaxo Foot 357.0 11.84TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %DLF 198.7 -4.43 KGN Inds 27.5 -4.85 EVERONN 253.1 -9.99Sun Pharma 491.5 -2.40 TV18 Broadcast 39.1 -3.81 Carol Info 199.9 -5.84Bharti Airtel 398.6 -1.81 HDIL 103.9 -3.35 Unisys Soft 66.3 -5.69Bajaj Auto 1643.3 -1.49 Dewan Housing 224.9 -3.19 Timex Group 28.6 -4.99NTPC 162.6 -1.00 Jagran Prakashan 105.6 -3.12 Dion Global Sol 33.4 -4.98 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