Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Daily Newsletter: 10th December, 2010

672 views

Published on

Catch the latest Equity research reports from Fullerton Securities at

http://www.fullertonsecurities.co.in/equity/markets/research_reports.aspx

  • Login to see the comments

  • Be the first to like this

Daily Newsletter: 10th December, 2010

  1. 1. Volume: 1 | Issue: 416| December 10, 2010 COMMENTARY INDIAN MARKET 9-Dec 8-Dec % ChangeINDIA BSE Sensex 19,242 19,696 (2.31)Looks like things are only getting worse for the Indian market, at least for the moment, with no let- NSE Nifty 5,767 5,904 (2.32)up in the bear onslaught throughout this week. Today particularly was a horrible day for the bulls BSE Midcap 7,259 7,600 (4.49)amid a severe bloodbath across the board. The non-index counters were yet again singled out for BSE Smallcap 8,745 9,295 (5.92)some savage treatment amid all the bad news surrounding alleged price manipulation in a few Nifty Junior 11,620 12,029 (3.40)counters. India was by far the worst performer today, not only in Asia but perhaps across the world. CNX Midcap 8,376 8,688 (3.59)Finally, the BSE Sensex finished at 19,264, down 432 points or 2.2% over the previous close. The NSENifty closed at 5,766, down 137 points or 2.3% from the previous close. The BSE Small-cap index andthe BSE Mid-cap index were down 6% and 4.4% respectively. GLOBAL MARKETS 9-Dec 8-Dec % ChangeThe market breadth on the BSE was negative with 2,493 shares falling and 406 shares falling. Dow Jones Ind (USA) 11,370 11,372 (0.02) Nasdaq Composite(USA) 2,617 2,609 0.29GLOBAL MARKETS S&P 500 (USA) 1,233 1,228 0.38Stocks closed mixed Thursday as traders waited to see whether a tax compromise brokered by the FTSE 100 (UK) 5,808 5,795 0.23White House and Republicans will pass the Democratic-controlled House. Stocks had edged higher DAX (Germany) 6,964 6,976 (0.17)in the morning after a report from the Labor Department showed that first time claims for Nikkei 225 (Tokyo) 10,286 10,232 0.52unemployment benefits dropped last week to the second-lowest level this year. Claims fell to Hang Seng (Hong Kong) 23,172 23,092 0.34421,000, below the 428,000 figure that Wall Street expected. The Dow Jones industrial averageended flat at 0.02 percent, to 11,370.06. The Nasdaq composite index rose 0.3 percent, to 2,617.The Shanghai Comp (China) 2,811 2,848 (1.31)Standard & Poors 500 index rose 0.4 percent, to 1,233. KOSPI (South Korea) 1,989 1,956 1.70 STI (Singapore) 3,210 3,203 0.22The Asian markets have started the day in negative note. Nikkei is down by 0.30 %,STI is down by MSCI Emerging Market 423 428 (1.17)0,40% and even Hang Seng is down by 0.35%. MSCI Frontier Market 583 580 0.60 CORPORATE/ ECONOMY NEWS BOND MARKETS 9-Dec 8-Dec Change Glodyne Technoserve Ltd, an emerging technology services firm, today said its promoters have 10yr G-Sec Yield 8.17 8.19 (0.02) increased their holding in the company by acquiring 4.33 lakh equity shares from the open market. 1yr G-Sec Yield 7.27 7.27 0.00 LIBOR (6m) 0.45 0.45 0.00 State-owned Steel Authority of India has plans to expand its dealer network in the country to LIBOR (1m) 0.26 0.26 0.00 widen its reach. Interbank Call rate 6.5 6.7 (0.16) Even as tight liquidity conditions continue in the system, LIC Housing Finance said it has raised Rs 750-crore through a bond issue at a competitive rate. BSE Turnover Rs Cr(000) Sensex 20200 5.0 The countrys biggest iron ore miner NMDC said it will parter with Russias largest steel maker 20000 Severstal for setting up a 5 million tonnes steel plant in Karnataka. The proposed plant will entail an 4.0 19800 investment of about Rs 25,000 crore. Both the companies will formally ink the pact for the project 19600 3.0 today. 19400 2.0 State-run explorer Oil and Natural Gas Corporation has bid for a 25 per cent stake that the US 19200 energy major Exxon Mobil owns in an Angolan offshore oil block. 1.0 19000 Jammu and Kashmir Cements Limited said it has earned a revenue of over Rs 50 crore during the 18800 0.0 current fiscal till November. 3-Dec 6-Dec 7-Dec 8-Dec 9-Dec Home grown retail giant Future Group is to join hands with Carrefour to bring the French retailer to India. NSE Turnover Rs Cr(000) Nifty Strides Arcolab has entered into an agreement to acquire 70 per cent stake in Inbiopro Solutions, a 6050 20 Bangalore-based biotechnology firm. The acquisition marks Strides foray into 6000 biologics, strengthening the companys offering in the specialty segment. 5950 15 5900 Pipavav Shipyard has signed protocol with Rosoboron Export, a Russian government arm for 5850 10 defense co-operation with foreign governments. 5800 5750 5 Rallis India, a subsidiary of Tata Chemicals has announced the acquisition of a majority stake of 5700 53.5 per cent in Metahelix Life Sciences. The acquisition is an all-cash deal of Rs 99.5 crore funded 5650 0 largely through internal accruals. 3-Dec 6-Dec 7-Dec 8-Dec 9-Dec `Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for publicdistribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtainwritten consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associatedwith it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own investigations and seek professional advice forinvestment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or due to any inadvertent error in the information containedin this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making any investment decision. The risk of any lossesoccurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not an indication offuture performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investmentdecisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms andconditions of the use of this service or discontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall
  2. 2. Volume: 1 | Issue: 416| December 10, 2010 CORPORATE NEWS SECTOR 9-Dec 8-Dec % Change Piramal Healthcare has announced the buyback of 20 per cent of its total number of shares IT 6,234 6,232 0.03 through a tender offer that will entail an outgo of Rs 2,508.16 crore. Teck 3,730 3,761 (0.82) FMCG 3,513 3,546 (0.93) Tata Motors has announced a host of benefits on the Tata Nano, as it deepens its customer reach- Capital Goods 14,961 15,294 (2.18) out initiatives to expand open sales of the car across the country. PSU 9,094 9,332 (2.55) Power 2,840 2,915 (2.56) Navin Jindal-led Jindal Power is likely to launch a Rs 7,000 crore initial public offer (IPO) before Oil&Gas 10,171 10,464 (2.80) March 2011. Bankex 12,645 13,069 (3.24) Telecom value-added services provider One97 Communications Ltd has further delayed its initial Auto 9,895 10,236 (3.33) public offering to raise about Rs 1,200 crore. Healthcare 6,447 6,683 (3.53) Metal 15,741 16,341 (3.67) National Hydroelectric Power Corporation (NHPC) will miss its capacity addition target for five Realty 2,705 2,840 (4.76) years ending in March 2012 by 3,000 megawatts (MW) from the targeted 5,322 MW. Consumer Durabels 5,763 6,150 (6.29) Indian drugmaker Elder Pharmaceuticals plans to manufacture and launch 8-10 of its products in Bulgaria through its unit Elder Biomeda AD. The IPO of A2Z Maintenance & Engineering Services Limited has been subscribed 0.72 times on first day. BSE Upper Circuit Breakers JSL Stainless Ltd has announced that in accordance with the approved restructured terms with Company Name 9-Dec 8-Dec % Change the FCCB holders, the Company has re-paid an amount of USD 9,000,000 in face value, out of total Glance Finance 12.1 11.6 5.00 outstanding FCCBs amounting to USD 24,050,000 in face value. As a result of this payment, FCCBs Ensa Steel 25.8 24.6 5.00 amounting to USD 9,000,000 in face value have been redeemed and cancelled and the total Modi Rubber 73.7 70.2 5.00 outstanding FCCBs now stands reduced to USD 15,050,000 in face value. These outstanding 0 Blue Cosr Hotels 229.9 219.0 5.00 FCCBs, unless converted / cancelled, would be redeemed on revised maturity date i.e. December Thakkers Developers 46.3 44.1 5.00 24, 2019. Bata India Ltd. reportedly plans to open 70 stores a year for the next five years investing as much as Rs. 6 mn on each store. S Kumars Nationwide Ltd said on Thursday its unit Reid & Taylor has filed regulatory papers with the stock market regulator for an initial public offering of shares. BSE Lower Circuit Breakers Company Name 9-Dec 8-Dec % Change Sistema Shyam TeleServices, a joint venture between Sistema of Russia and Shyam Group of Spectacle Inds 103.5 129.35 (20.00) India , today reported over seven-fold jump in its net income to $ 507 million for the quarter ended GSS America 204.65 227.35 (10.00) September 30, 2010, over the same period last year. Hanung Toys 189.15 210.15 (10.00) Reliance Industries Ltd . , owner of the worlds biggest refining complex, is poised to increase Mansi Finance 27.3 28.7 (5.00) crude imports from Latin America as it seeks better refining margins by processing heavier and Centrum Capital 1822.2 1918.0 (5.00) cheaper grades of oil. Heavy Engineering Corporation Ltd is contemplating entering rail coach manufacturing segment soon. Tata Group-promoted retail arm, Trent Hypermarket , said it would be launching a range of food products from the basket of its joint venture company, Tesco, in India. Corporation Bank has raised its benchmark prime lending rate by 25 basis points to 13 per cent, effective December 13. COMMODITY / CURRENCY NEWS COMMODITY 9-Dec 8-Dec % Change Crude Oil (USD/bbl) 88.8 88.2 0.71 Gold (Rs/10gm) 20,625.0 20,528.0 0.47Crude oil closed up by 0.71% at $88.80 per barrel. Gold closed up by 0.47% at Rs 20,625 and Silver Silver (Rs/kg) 43,673.0 43,083.0 1.37closed up by 1.37 % at Rs. 43,673.The Indian Rupee closed lower against the dollar at 45.21 as the Indian equity benchmarks ended on a CURRENCY 9-Dec 8-Dec % Changenegative note. INR / USD 45.21 45.08 0.29 USD / Euro 1.31 1.31 - Yen / USD 83.69 84.28 (0.70)Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public distribution and has beenfurnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtain written consent from FSWA. While reasonable care tocompile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associated with it. The document is prepared only for your information and is not sufficient formaking an investment decision. You should rely on your own investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the useof this document or due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making anyinvestment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not anindication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investment decisions made by you.This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this service ordiscontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification, or terminationof the information and services provided herein.
  3. 3. Volume: 1 | Issue: 416| December 10, 2010 ECONOMY / POLICY NEWS FUTURES PREMIUM/DISC Cash Futures P/D% Indias ship-building industry which currently accounts for only about one per Gtlinfra 43.2 43.7 1.27 cent of the global ship-building market, is targetting a worldwide share of 5 per Escorts 155.8 157.7 1.22 cent by 2017. PTC 111.8 112.85 0.98 Ruchisoya 83.0 83.8 0.96 The Power Ministry said it may miss the power capacity addition for the 11th plan LIC Housing Fiinance 885.7 894.05 0.95 period (2007-12) by about 4,000 MW due to delay in commissioning of hydro- Pantaloon Retail 346.1 349.1 0.88 power project. Concor 1285.0 1241.7 (3.37) ONGC 1321.6 1298.8 (1.73) Indias food inflation inched up a tad in the last week of November but stayed well Core Project 241.8 238.7 (1.28) below the double-digit mark while fuel inflation remained unchanged, data Maruti 1391.2 1377.2 (1.00) released by the Government showed on Thursday.Notwithstanding the recent moderation, the annual inflation in Food Articles is still above the official WPI Jindalsaw 181.0 180.1 (0.50) inflation target zone of 5-6%. Hindustan Zinc 1155.3 1150.0 (0.45) Annual inflation in the Food Articles space stood at 8.69% in the week ended INSTITUTIONAL ACTIVITY (Rs Cr) 26-Nov 25-Nov YTD November 27 as against 8.6% in the previous week, FII Cash Net 125 (532) 127,486 FII Stock Futures (250) 535 (14,489) FII Index Futures (452) (678) (16,588) Mutual Fund 163 235 (29,863) VALUATIONS P/E P/B DIV YLD BSE 22.7 3.7 1.1 NSE 23.5 3.7 1.1 BSE500 Mcap/GDP Ratio 0.62MOVERS & SHAKERS TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERSName Rs % Name Rs % Name Rs %Wipro 436.9 0.67 Amara Raja 177.95 4.22 Kirloskar Oil 399.05 10.85Infosys 3151.55 0.54 Kirloskar Bros 210 1.11 Shri Ganesh Spi 9.13 4.7ITC 167.4 0.39 IRB Infra 192.2 0.95 Shree Nath Comm 68.8 4.56 Zydus Wellness 581.5 0.9 Prraneta Inds 65.6 4.38 Standard Chartered 117.1 0.82 Vipul 17.85 3.48TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERSName Rs % Name Rs % Name Rs %Reliance Infra 777.7 -6.62 Glodyne Tech 645.65 -20 Accentia Tech 159.5 -19.99Reliance Comm 122.5 -5.66 Sunteck Realty 471.35 -19.99 Genesys Intl 218.8 -19.99Hindalco Inds 209.85 -5.49 S Kumar Nation 68.55 -18.68 Kiri Dyes 353.25 -19.99Cipla 350.55 -4.92 Amtek Auto 119.5 -14.76 Marg 114.45 -19.99Tata Motors 1272.3 -4.71 Hindustan Oil 182.25 -12.69 Tata Coffee 410.25 -19.99 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSESEL Manufacturing Company Trans Financial Resources BUY 1.25% 27.7Delta Corp Limited Crosseas Capital Services BUY 1.55% 120.3Hindustan Org Chem Ltd Jmp Securities BUY 1.54% 56.5Subex Limited Suresh Kanmal Jajoo SELL 1.33% 82.0BS TransComm Limited Crosseas Capital Services Pvt. Ltd. SELL 0.88% 185.5BSEABG Shipyard ABG International BUY 1.68% 380Camlin Kent Resorts BUY 1.23% 43.0Midfield Industries Anandita Securities BUY 1.05% 430.8XL Telecom Goldman Sachs Investments SELL 1.20% 31.05RCL FOODS Padma V SELL 1.35% 38.78 Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public distribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtain written consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associated with it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making any investment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not an indication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investment decisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this service or discontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification, or termination of the information and services provided herein.

×