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Indian stock markets sep 07
1. Morning EQ-Tea 7 September 2010
Indian Indices % Change
Last Close 1 Day MTD YTD Corporate News/Results Corner
Sensex 18,560 1.9 3.3 6.3
Nifty 5,577 1.8 3.2 7.2 Page Page
CNX Midcap 9,021 1.1 3.9 21.4 No. No.
CNX IT 6,184 1.8 3.5 6.3 โข Corporate News 2 โข Price Shockers 3
Bankex 11,219 2.1 4.4 24.2
Auto 9,124 1.7 3.5 22.7 โข Macro Economic News 2 โข Event Calendar 4
Metal 15,879 3.5 6.0 (8.7)
FMCG 3,477 0.6 2.7 24.5 โข International News 2 โข Corporate Actions 4
Global Indices % Change โข Bulk Deals 3
Last Close 1 Day MTD YTD
Shanghai 2,696 0.2 2.4 (17.6) โข Insider Trades 3
Nikkei 225 9,301 (0.2) 5.2 (12.0)
Straits Times 3,035 (0.1) 2.7 4.6 Statement of the day
Hang Seng 21,356 0.2 4.2 (2.1)
DJIA 10,448 1.2 4.3 0.2
โWe have seen financial reforms of the type done by Wall Street and the
S&P 500 1,105 1.3 5.3 (0.9)
City of London but the country like India would have to evolve its own
FTSE 5,439 0.2 4.1 0.5 roadmap based on its own situation.โ
Dollar Index 82 0.3 (1.1) 5.7
Live Markets As on 0730 hours IST Manmohan Singh Prime Minister of India
Hang
Shanghai Nikkei SGX Nifty Seng
Institutional Activity Vis-ร -vis Sensex Movement
Current Quote 2,702 9,280 5,585 21,374
% Change 0.2% (0.2%) 0.2% 0.1%
(Rs Mn) Provisional Figures for Investments
ADR (CONVERTED TO INR) Prem / (Disc) in (%) 12000 19000
ADR Close NSE Close 1 Day 1Mth 10000 18800
INFOSYS 2,823 2832 (0.3) (0.3) 8000 18560.05
18600
ICICI BANK 1,008 1039 (3.1) 0.5 6000
TATA COM 340 341 (0.4) (0.9) 4000 18205.87 18400
HDFC BANK 2,631 2204 16.2 15.9 2000 18032.11 17971.12 18200
STERLITE 162 164 (1.8) 75.3 0 18238.31
18000
Volumes Moving Average (Rs bn) -2000 18221.43
17800
1 Day 5 Day 30 Day -4000
BSE CASH 54 51 51 -6000 17600
NSE CASH 149 136 142 -8000 17400
NSE F&O 1144 229 38 30-Aug 31-Aug 01-Sep 02-Sep 03-Sep 06-Sep
Institutional Activities (Net) Spot market
1 Day MTD YTD FII (LHS) MF (LHS) Sensex (RHS)
FII (Rs bn) 9.5 17 465
Source: NSE, BSE & SEBI
MF (Rs bn) 3.9 3 (189)
Bond Market Historical Data (%) BSE Advance/Decline
1 Day 1M 1 Yr
10Yr Yield (G-Sec) 7.99 7.95 7.59
Currency Market % Change 2,000 3.5
Last Close 1day MTD YTD 2.9
INR/USD 46.55 0.2 1.1 (0.0) 3.0
1,600
INR/EURO 59.26 1.1 0.7 12.4
Number of Shares
2.4 2.5
INR/GBP 71.58 0.1 0.9 5.1
1,200 1.7 2.0
Commodities Update % Change
1.3
Unit Close 1 Day MTD YTD 800 1.5
Crude Oil(NYME) $/Bbl 74 (0.6) 3.1 (6.6) 0.8 1.0
Gold (OTC) $/Oz 1,249 (0.1) 0.1 13.9 400 0.5
0.5
Copper (LME) $/MT 7,694 0.8 3.6 4.8
Aluminum (LME) $/MT 2,165 2.1 6.0 (1.5) 0 0.0
Sugar (LIFFE) $/MT 595 0.5 2.9 2.3 30-Aug 31-Aug 01-Sep 02-Sep 03-Sep 06-Sep
Zinc (LME) $/MT 2,196 2.1 6.3 (14.2)
Advance (LHS) Decline (LHS) Adv/Decl Ratio (RHS)
Baltic Dry Index 2,881 0.2 4.1 0.5
Source: Bloomberg, NSE, BSE & SEBI Source: BSE
Page 1
2. Corporate News/Results Corner
Oil Ministry okays stake dilution in ONGC, IOC (Positive)
The petroleum ministry has approved part-sale of governmentโs stake in Oil and Natural Gas Corporation (ONGC) and Indian
Oil Corporation (IOC), a move that could fetch the government over Rs 240bn this financial year.
Renuka sugars, HPCL plan ethanol unit in Maharashtra (Positive for Renuka Sugars)
Shree Renuka Sugars is looking to set up an integrated sugar-cum-ethanol plant with oil marketing company Hindustan
Petroleum Corporation (HPCL) in Maharashtra. This would be the first such tie-up between a sugar and a petroleum company.
Rel Infratel, GTL call off merger deal (Negative)
Reliance Infratel and GTL Infrastructure have abandoned plans to combine their tower operations in a deal that was valued at
$11 bn, due to valuation disputes, raising questions over parent company Reliance Communicationsโ (RCOM) plans to cut debt
and raise money by issuing shares.
PVR to sell Phoenix Mills multiplex for 1000 mn
PVR has put its multiplex at Phoenix Mill mall in central Mumbai on the block with a price tag of 800-1000 mn.Phoenix, the
multiplex, has a sprawling 65,000 square feet of area. It is the only property that the theatre chain owns.
Tata Steel raises product prices by 1,000 a tonne (Positive)
Tata Steel has raised the prices of flat products by about 1,000 a tonne on account of a pickup in demand and the prevailing
market trend.The company has raised its flat product prices by up to 4% with effect from September 3.
ABN to renew $1bn IT outsourcing deals (Positive)
ABN Amro is set to renew its contracts for managing the bankโs software applications and computer hardware systems with
IBM, Tata Consultancy Services (TCS) and Infosys Technologies. The contract renewal could potentially bring outsourcing
projects worth $1 bn to India over the next five years.
Aurobindo in supply pact with AstraZeneca (Positive)
Aurobindo Pharma Limited has entered into licensing and supply agreements with AstraZeneca, to supply finished dosage and
sterile products to emerging markets. The agreement will support AstraZenecaโs investment in branded generics sold in
emerging markets. These products fall under a broad range of therapeutic segments such as anti-infective, cardiovascular
system (CVS) and central nervous system (CNS).
Firstsource inks outsourcing deal with Axis Bank- (Positive)
Firstsource Solutions, a business process outsourcing company, has signed a five-year outsourcing agreement with Axis
Bank.As part of the agreement, Firstsource will offer customer contact services (voice, email and web chat) to retail
customers of Axis Bank.
Macro Economic and Other News International News
Direct tax collections rise 13.9% in April-August UK new car registration slips
Net direct tax collections during April-August registered a The UK new car registration for the month of August came
growth of 13.91%, at Rs 1,001.12bn, compared with Rs in at -17.5% y-o-y as compared to the previous month
878.88bn in the corresponding period of the previous figure of -13.2%. SMMT have warned that the market
financial year. This was mainly attributed to the growth in would remain tough for the rest of the year but still
revenue receipts from the corporate sector. expects more than two million new cars to be sold in
2010.
Ocean signals indicate another weak monsoon
phase Obama announces new stimulus package
Ocean signals indicate that the monsoon may be going US President Barrack Obama announced a new
into a weak phase from around the weekend. But it is the infrastructure stimulus package worth US$ 50 billion. This
weak monsoon phase that paradoxically brings rains to newest stimulus will call for a six-year investment period
East and Northeast India, which have been witnessing and will require congressional approval. The new stimulus
below normal rains right through the season. package aims to create jobs over the long-term by
rebuilding 150,000 miles of roads, 4,000 miles of rail, and
150 miles of airport runways.
Source: Economic Times, Business Line, Business Standard, Times of India, DNA Money, Mint, Financial Express, Bloomberg
Page 2
3. Bulk Deal
Company Acquirer Qty Price Seller Qty Price
Bliss GVS Pharma N.A. Narsimha Shibroor Kamath 530000 41.5
Crew B.O.S. Emerging India Focus
Products Limi Funds 67000 134.3 N.A.
Genesys Intl Amas India Inv Mauritius 192000 240.5 India Max Investment Fund 192651 240.5
Orange Mauritius
Gujarat Hotels Investments Limited 55558 83.5 N.A.
Hanung Toys and Credit Suisse
Textiles (Singapore) Limited A/C 150000 309.4 N.A.
Master N.A. Mallikhar Junarao V 72442 48.3
Enpee Credit & Capital
National Plast Inds India Limited 64985 22.0 Rashesh Manharbhai Bhansali 65000 22.0
The Royal Bank Of
Phillips Carbon Scotland Plc As Trustee
Black Of Jupiter India 340000 223.6 N.A.
Piramal Management
Piramal Health Services Private Limited 6592410 514.0 Nandini Ajay Piramal 3856277 514.0
Roselabs Inds Jayshree Shankar Bhosle 354248 35.0 N.A.
Varun Inds N.A. Swati Rajesh Shah 134444 174.2
N.A. = Not Available
Source: BSE & NSE
Insiders Trades
Company Acquirer/Seller Bought/Sold Qty
Empower Industries India Ltd Energy Commotrade Pvt Ltd B 66125000
Geodesic Ltd Vinod Sethi, Non-Executive Director S 163814
Gulshan Chemfill Ltd Gulshan Holdings Pvt Ltd S 1053000
IBN18 Broadcast Ltd Network18 Group Senior Professional Welfare Trust B 3434000
Munjal Auto Industries Ltd Thakur Devi Investments Pvt Ltd B 7459945
Nimbus Foods Industries Ltd Chinar Capital Market Pvt Ltd S 1100000
Source: BSE NSE & Capitaline
Note: The above insiders Trades might include ESOPs conversion.
Price Shockers
Gainers Losers
Change Change Change Change
Company Close Price Price Company Close Price Price
Price (Rs) (Rs) (%) Price (Rs) (Rs) (%)
Godrej Cons 401 26 7.0 HPCL 511 (19) (3.5)
BEML 1134 73 6.9 Suzlon Energy 50 (1) (2.6)
Rashtriya Chem 86 4 5.3 Jet Air India 699 (17) (2.3)
Bosch 6303 315 5.3 Glenmark Pharma 283 (7) (2.3)
Chambal Fert 74 4 5.1 Jindal Steel 683 (15) (2.1)
India Infoline 99 4 4.0 Tata Comm 340 (7) (2.1)
Allahabad Bank 225 8 3.9 Central Bank 181 (3) (1.8)
Tata Chemicals 410 15 3.7 Sesa Goa 318 (6) (1.8)
Religare Enter 480 17 3.7 Gujarat NRE Coke 60 (1) (1.6)
Tech Mahindra 700 23 3.5 Jaiprakash Asso 113 (2) (1.5)
Gujarat Mnrl 126 4 3.2 Hindalco Inds 170 (3) (1.5)
Bajaj Auto 2872 87 3.1 Balrampur Chini 87 (1) (1.4)
Indian Bank 260 7 2.9 Chennai Petro 240 (3) (1.4)
Unitech 81 2 2.9 Sterlite Inds 159 (2) (1.3)
Sintex Inds 372 10 2.7 Ispat Inds 20 (0) (1.3)
Source: Capitaline
Page 3
4. Event Calendar
โข Sep 06: US Personal Spending
โข Sep 07: Japan BOJ Target Rate for Sept 7 (Expectation 0.10% Prior 0.10%)
โข Sep 07: UK BRC Retail Sales Monitor for Aug
Source: Bloomberg
Corporate Actions
Ex Date Company Purpose Ex Date Company Purpose
Annual General Meeting
National Oxygen Balmer Lawrie & Annual General Meeting And
7-Sep And Dividend Re.1/- Per 7-Sep
Limited Company Limited Dividend Rs.23/- Per Share
Share
Annual General Meeting
Annual General Meeting And
7-Sep Aarti Industries Limited And Final Dividend 7-Sep NHPC Limited
Dividend Re.0.55 Per Share
Re.0.70 Per Share
Annual General Meeting
Power Grid Corporation Times Guaranty
7-Sep And Dividend Re.1/- Per 7-Sep Annual General Meeting
of India Limited Limited
Share
Firstsource Solutions
7-Sep Annual General Meeting 7-Sep Nitco Limited Annual General Meeting
Limited
Annual General Meeting
7-Sep RSWM Limited And Dividend Rs.2.50
Per Share
Source: NSE
Page 4
5. Advisory Group
Karun Mutha
SVP & Head - Equity & Derivatives Advisory
Tel +91-22-67897833
Email: karun.mutha@hsbcinv.com
Fundamental Team Designation/Sectors covered
Supriya Madye AVP AnalystโAuto Cement Infra 022 39673815 supriya.madye@hsbcinv.com
Deepan Sankaranarayanan AnalystโMedia Logistics 022 39673818 deepan.sankaranarayanan@hsbcinv.com
Jignesh Shial AnalystโBanking Real Estate 022 39673820 jignesh.shial@hsbcinv.com
Hitesh Punjabi AnalystโIT Pharma 022 39673823 hitesh.punjabi@hsbcinv.com
Prerna Jhunjhunwala AnalystโRetail FMCG Capital Goods 022 39673822 prerana.jhunjhunwala@hsbcinv.com
Chetan Thacker Associate AnalystโMetal Mining Agri 022 39673821 chetan.thacker@hsbcinv.com
Priyanka Rai Assistant Manager (Production) 022 39673852 priyanka.rai@hsbcinv.com
Quantitative Team
Tina Khetan Derivative Analyst 022 67897828 tina.khetan@hsbcinv.com
Akshay Bhagwat Derivative Analyst 022 67897830 akshay.bhagwat@hsbcinv.com
Nikunj Shah Derivative Analyst 022 67897827 nikunj.shah@hsbcinv.com
Technical Team
Mukesh Singh Vice President- Technical Analyst 022 67897816 mukesh.singh@hsbcinv.com
Rahul Randeria Technical Analyst 022 67897817 rahul.randeria@hsbcinv.com
A.SenthilRaj Technical Analyst 022 39673998 a.senthilraj@hsbcinv.com
Advisory Support
Tony Nawani Manager 022 67897825 tony.nawani@hsbcinv.com
Ashutosh Desai Assistant Manager 022 67897826 ashutosh.desai@hsbcinv.com
Vinod Hassija Assistant Manager 022 67897827 vinod.hassija@hsbcinv.com
Page 5
6. Disclaimer:
Issuer of the Document:- HSBC InvestDirect Securities (India) Limited*
Registered Office:-
Dhana Singh Processor Premises
J B Nagar Andheri - Kurla Road
Andheri (East)
Mumbai โ 400 059
Telephone: +91 22 6789 7830
Fax: +91 22 6789 7700
Website: www.hsbcinvestdirect.co.in
Disclosure
HSBC InvestDirect Securities (India) Limited (โHISLโ) its associate and group companies its directors associates and
employees may have various positions in any of the stocks securities and financial.
Instruments dealt in this document or may make sale or purchase or other deals in the securities from time to time or may
deal in other securities of the companies / organizations described in this document.
Certification
The views and opinions expressed by the author in the document are his own and do not reflect the views of HSBC
InvestDirect Securities (India) Limited or any of its associate and group companies.
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Page 6