Commodity price of Gold, Sliver, Copper, doller/Rs and many more. Narnolia Securities Limited Market Diary 03.03.2014
3rd March 2014
SGX NIFTY : 6258
( 22 pts Down )
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Chart of the Day
Indian Real GDP ( % )
Index Action-Nifty (28th, Feb, 14)
Narnolia Securities Ltd.
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Top Price Performers
Top Performers 1D
Top Performers 1W
Worst Price Performers
Top News :
• Jaiprakash Power Venture Ltd or JPVL, the Jaiprakash Group's flagship company, will sell its two hydropower plants to a grouping led by Abu
Dhabi government-owned utility Taqa for $1.8-2 billion (Rs 11,500-12,500 crore) as part of an asset-disposal plan aimed at trimming a part of the
group's Rs 60,000 crore debt.
• The government will sell a 5 percent stake in power equipment manufacturer BHEL to state-owned Life Insurance Corporation of India,
fetching the exchequer about Rs 2,046 crore. BHEL disinvestment will happen this fiscal through a block deal to LIC .
• Power Grid Corporation of India Ltd has moved the Delhi High Court against the Income Tax department's demand of Rs 872 crore as tax on
charges collected by it from defaulting states. In its petition, Power System Operation Corporation Limited (POSOCO), said the Central Electricity
Regulatory Commission (CERC) has devised a commercial mechanism to penalise those who breach discipline of the grid, while drawing power,
and compensating those impacted by such breach.
• Tech Mahindra is looking to acquire promoter's stake in FT ( Financial technologies ) as well as its debt. Further, the committee has assured that
there will be independence of acquisition from NSEL investors. Tech Mahindra executives met some representatives of the committee to explore
initial contours of the deal.
• Rakesh Jhunjhunwala's firm Rare Enterprises picked up 15 lakh shares of HT Media for nearly Rs 11 crore through open market route. Rare
Enterprises has bought the company's scrips on an average price of Rs 71.25 apiece, valuing the transaction at Rs 10.69 crore, as per bulk deal
data available with BSE.
• Oriental Bank of Commerce has raise Tier II Capital to the extent of Rs. 1000 crore (Rupees one thousand crore only) through issue of Basel III
compliant Tier II Bonds on private placement basis.
• Voltas has formed a 50:50 joint venture with Dow Chemical Pacific (Singapore) Pte to market and distribute standard packaged water
treatment systems and waste water treatment systems.
• CCEA has hiked fixed costs by Rs. 300/ Tonne for urea plants. The cabinet has cleared several big ticket proposals and ordinances including
hiking dearness allowance. It has also okayed an ordinance to amend the securities law and give SEBI more powers.
• Maruti Feb , 2014 Auto Sales No : -0.4 % ( YoY ) , +6.5 % ( MoM ) . TVSMotor Feb , 2014 Auto Sales No : +7.2% ( YoY ) , -4.6% ( MoM ) . Atul
Auto Feb , 2014 Auto Sales No : +19.0 % ( YoY ) , -6.8 % ( MoM )
• Chinese Manufacturing PMI fell to an annual rate of 50.2, from 50.5 in the preceding month. Analysts had expected Chinese Manufacturing
PMI to fall to 50.1 last month.
• Q3FY14 Indian GDP 4.7 % Vs 4.5 % ( YoY ) Expectation 4.8 % . Fram Sector growth 3.6 % vs 1.1 % ( YoY ) . Manufacturing sector Growth @ 1.9
% Vs 2.5 % ( YoY ). Mining Sector Growth @ -1.6 % vs -2 % ( YoY ) . Construction Sector Growth @ 0.6 % vs 1% ( YoY ) . Trade, hotels, transport and
communication’ sector growth at 4.3 %Vs 5.9 % ( YoY ) . Electricity, gas & water supply’ Sector Growth at 5.0 %Vs 2.6 % ( YoY ) . Community,
social & personal services’ sector Growth @ 7.0 % Vs 4% ( YoY ) . Industry Sector Growth @ -0.7 % vs 1.7 % ( YoY ) .Service Sector Growth @ 7.6 %
Vs 6.9 % ( YoY ).
Management Tweets :
• Firstsource Solutions Mgt Guideline : Company aims to clock a revenue growth of 9-10 percent for FY14 . The net profit for the company is
likely to be between Rs 180-185 crore for FY14 . Margin expansion will also flow through on back of interventions done over the last 12 months
like weeding out of non-profitable accounts and weeding out lines of businesses that were bleeding cash . The margin improvement at the EBITDA
level, company see at least another 150 basis points improvement in FY15 .
• Titan Mgt Guideline : The Reserve Bank of India (RBI) has given approval to Titan for hedging of gold on international exchanges. All the gold
that company is buying, company will be able to hedge through the authorised banks in India, both on the gold front which might be on the
commodity exchange internationally, and on the USD-INR rate in India. So,company would be able to hopefully take longer contracts. Company
don’t need to roll them over very frequently and that would be very beneficial for company . Mgt believe jewellery demand is still subdued given
the weak discretionary spending environment .
• Godrej Consumer Products Mgt Guideline : Company is confident of maintaining growth going forward . Fluctuations seen in currencies of
markets like Argentina, South Africa and Indonesia are unlikely to impact the company’s margins. Because most of our materials are bought locally
and selling is also locally . Though weak sentiment & slowdown emerging markets , the company is on track to achieve 10 times growth in 10
years , which means a compounded annual growth rate (CAGR) of 26 percent .
Result Calendar Q3FY14
SALES ( Cr.)
SALES Gr ( % )
PAT ( Cr.)
PAT ( % )
Core PCE Price Index m/m , Personal
Spending m/m , ISM Manufacturing
PMI , Total Vehicle Sales ,
Construction Spending m/m .
Spanish Manufacturing PMI , Italian
Manufacturing PMI , Manufacturing
PMI , Net Lending to Individuals
m/m , M4 Money Supply m/m ,
Mortgage Approvals , ECB President
Draghi Speaks .
Auto sales no .HSBC manufacturing
IBD/TIPP Economic Optimism .
ADP Non-Farm Employment Change , ISM
FOMC Member Dudley Speaks ,
Non-Manufacturing PMI , Final Services
Unemployment Claims , Revised Nonfarm
PMI , ISM Non-Manufacturing PMI , Crude Productivity q/q , Revised Unit Labor Costs
Oil Inventories , Beige Book , FOMC
q/q , Factory Orders m/m , FOMC Member
Member Fisher Speaks .
Plosser Speaks .
Non-Farm Employment Change , Trade
Balance , Unemployment Rate , Average
Hourly Earnings m/m , FOMC Member
Dudley Speaks .
Spanish Unemployment Change ,
Halifax HPI m/m , Construction PMI ,
PPI m/m .
Spanish 10-y Bond Auction , French 10-y
Spanish Services PMI , Italian Services PMI
Bond Auction , German Factory Orders m/m
, Final Services PMI , Services PMI , Retail
, Asset Purchase Facility , Official Bank Rate ,
Sales m/m , Revised GDP q/q .
MPC Rate Statement , Minimum Bid Rate .
German Industrial Production m/m ,
Consumer Inflation Expectations .
HSBC India Services PMI , HSBC India
Composite PMI .
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