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Daily Newsletter: 15th April, 2011

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Daily Newsletter: 15th April, 2011

  1. 1. April 15, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 13-Apr 11-Apr % Change COMMENTARYBSE Sensex 19,697 19,263 2.26 INDIANSE Nifty 5,912 5,786 2.17 After being under pressure for four straight trading sessions, the Indian markets ended with healthy gainsBSE Midcap 7,224 7,124 1.40 on wednesday amid a swift recovery seen in the Asian markets. Sentiments further got a boost after theBSE Smallcap 8,824 8,710 1.31 European markets also started off with smart gains. Another sentiment booster was the receding crude oilNifty Junior 11,619 11,438 1.59 price. The NSE Nifty bounced back sharply finding strong support at its 200 DMA which is at 5800 ahead ofCNX Midcap 8,349 8,230 1.45 the results season, all eyes would be on Infosys quarterly numbers which will be announced today. The BSE Sensex ended at 19,697 surging 434 points while the NSE Nifty shot up by 126 points to close at 5,911. BSE Mid-Cap index and BSE Small-Cap index gained 1.4% and 1.3% respectively.GLOBAL MARKETS 14-Apr 13-Apr % Change The market breadth was very positive. Of the total 3029 stocks traded on the BSE, 1960 stocks haveDow Jones Ind (USA) 12,285 12,271 0.12 advanced while 971 declined.Nasdaq Composite(USA) 2,760 2,762 (0.05) *Indian Markets were closed on 14th April 2011 on the occassion of Ambedkar Jayanti.S&P 500 (USA) 1,315 1,314 0.01FTSE 100 (UK) 5,964 6,010 (0.78) GLOBAL MARKETSDAX (Germany) 7,147 7,178 (0.44) Most U.S. stocks advanced, erasing an early decline, as the House approved a spending bill that will avert aNikkei 225 (Tokyo) 9,654 9,641 0.13 government shutdown and on investors’ optimism about higher-than-estimated corporate earnings.Hang Seng (Hong Kong) 24,014 24,135 (0.50) Almost four stocks gained for every three that fell on U.S. The S&P 500 increased less than 0.1 percent toShanghai Comp (China) 3,043 3,050 (0.23) 1,314.52, erasing an earlier decline of as much as 0.9 percent. The Dow Jones Industrial Average advancedKOSPI (South Korea) 2,141 2,122 0.90 14.16 points, or 0.1 percent, to 12,285.15.STI (Singapore) 3,159 3,172 (0.42) Asian markets have opened up on mixed note as Hang Seng is up by 0.18% at 24,059, Nikkei is down byMSCI Emerging Market 451 451 (0.03) 0.53% at 9602.87, Singapore Strait Time Index is up by 0.20% at 3,164 and Kospi is down by 0.38% at 2132.MSCI Frontier Market 571 571 0.07BOND MARKETS 13-Apr 11-Apr Change CORPORATE/ ECONOMY NEWS10yr G-Sec Yield 8.20 8.18 0.02 Indian hospital chain Fortis Healthcare said it will buy an 86% stake in diagnostic services firm Super1yr G-Sec Yield 7.55 7.55 0.00 Religare Laboratories (SRL) for an undisclosed sum in a bid to expand its business verticals.LIBOR (6m) 0.46 0.46 0.00LIBOR (1m) 0.24 0.24 0.00 In a bid to tap $452 million Fexofenadine drug market, Dr Reddys Laboratories announced the launchInterbank Call rate 6.9 6.7 0.17 of generic version of Allegra -- Fexofenadine HCl -- tablets in the US market. The Food & Drug Administration (FDA) approved Dr Reddys Abbreviated New Drug Application (ANDA) for Fexofenadine HCl tablets. Watch and jewellery retailer Titan Industries said that it plans to open 100 premium and multi-brand BSE Turnover Rs Cr(000) Sensex 19800 4.0 watch store, Helios, across the country over the next three years. 19700 3.5 Sharad Pawar rejects Radia`s claim of links to DB Reality. 19600 3.0 19500 2.5 Infosys is aiming for a largest share of revenue from retail, banking and healthcare by shifting roles of 19400 2.0 leaders handeling multiple business units. 19300 1.5 19200 1.0 Petroleum Minister S Jaipal Reddy inaugurated Rs 900 crore unit at Hindustan Petroleum Corps (HPCL) 19100 0.5 refinery which will make products like LPG. 19000 0.0 6-Apr 7-Apr 8-Apr 11-Apr 13-Apr Coal India, the countrys biggest coal producer, plans to invest up to $3 billion in a coking coal mine, steel plant and a seaport on Indonesias Kalimantan island, Agustin Teras Narang, the Central Kalimantan. NSE Turnover Rs Cr(000) Nifty Amid the spat over valuation, Essar has approached the Reserve Bank of India seeking its nod to sell 5950 16 10.97% equity in the joint venture Vodafone Essar for $1.2 billion, which the company claimed is lower 14 than the fair value of shares of $1.72 billion. 5900 12 5850 88.38 10 #DIV/0! Tyre manufacturer MRF reported a marginal dip in their net profits at Rs 89.85 crore for the quarter 8 ending March 31, 2011. 5800 6 5750 4 State-run power producer NTPC Ltd has decided to go ahead with a Rs 2,600-crore tender for expansion 2 of its gas-based Kawas project in Gujarat. 5700 0 6-Apr 7-Apr 8-Apr 11-Apr 13-Apr The Manipal-based Syndicate Bank plans to raise up to $1 billion through Medium Term Notes (MTN) to strengthen capital base and lending. Global rating agency Standard and Poor’s granted a BBB- rating to its multi-currency MTN programme.
  2. 2. April 15, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 13-Apr 11-Apr % Change CORPORATE NEWS CG 13,966 13,595 2.73% Strides Arcolab Limited (Strides) has announced that it has received approval fromAUTO 9,428 9,195 2.54% the US FDA to commercialize the first liquid injection sterile product from theBANKEX 13,511 13,204 2.32% Company’s new Sterile Injectable complex in Bangalore.FMCG 3,719 3,638 2.24%IT 6,686 6,545 2.15% Reliance Industries Limited (RIL) has commenced implementation of its plannedTECk 3,940 3,864 1.96% world-scale projects in India across the polyester chain. This is RIL’s largest capacity 1.76% expansion in the sector and is aimed at consolidating its position as the world’s largestPOWER 2,800 2,751 integrated polyester producer. These investments in new polyester capacity will alsoOIL&GAS 10,086 9,928 1.59% strengthen India’s position as a global manufacturing hub for textiles and fiber.REALTY 2,440 2,402 1.57%PSU 9,093 8,986 1.19% Reliance Infrastructure Limited has bought-back 1,00,000 equity shares of theCD 6,376 6,306 1.11% Company pursuant to the Buy-back program of the Company. The Company hasMETAL 16,441 16,311 0.80% announced a program for buy-back of equity shares for an aggregate amount of up toHC 6,173 6,126 0.76% Rs. 10bn. Spice Labs, a leading mobile application company from India announced that its portfolio of mobile applications has crossed the 10 million mark in cumulative downloads of its applications on BlackBerry App World™. Spice Labs apps portfolio on BlackBerry App World includes applications in the category of Casual games and Kids learning.BSE Upper Circuit BreakersCompany Name 13-Apr 11-Apr % Change The countrys largest two-wheeler maker Hero Honda declared a 3,500% interimRap Media 21.8 18.2 20.00 dividend of Rs 70 per equity share.Sun Pharma Adv 94.8 79.0 20.00Ace India Lt 31.9 29.0 10.00 RPG Group company KEC International said that it has bagged orders worth Rs 550Auro Lab 7.6 7.2 5.00 crore from India and Brazil for the construction of transmission network. 0Karuturi Glob 13.7 13.0 5.00 Tata Chemicals reported that it has acquired 25.1% stake in ammonia urea fertiliser complex at Gabon in Africa. IT and BPO services provider Hexaware Technologies announced a deal with its US- based financial services client that would help it generate $10-15 million in annual revenue.BSE Lower Circuit BreakersCompany Name 13-Apr 11-Apr % Change PLG Power will set up a 120 MW capacity-solar cell manufacturing facility in Nashik atSampada Chem 240.6 253.3 (5.00) an investment of Rs 410 crore and production at the plant is expected to start by January 2012.Blue Coast 191.3 201.4 (5.00)Cgvak Soft 12.0 12.6 (5.00) Billionaire entrepreneur Richard Bransons Virgin Group will exit a marketing jointSarthak Inds 19.1 20.1 (5.00) venture in India with Tata Teleservices, with the latter agreeing to buy out the 50TCI Finance 65.3 68.7 (5.00) percent stake that Virgin holds for a undisclosed sum. Angel Broking is in talks with Citigroup Venture Capital International (CVCL) and other shareholders of Sharekhan to buy a majority stake in the brokerage. Indian hospital chain Fortis Healthcare said it will buy 86% stake in diagnostic services firm Super Religare Laboratories (SRL) for an undisclosed sum in a bid to expand its business verticals. Sarda Plywood Industries, in a bid to diversify into non-woven textiles, has decided to form a separate joint venture company in technical-cum-financial collaboration with a US-based firm.COMMODITY 13-Apr 11-Apr % Change COMMODITY / CURRENCY NEWSCrude Oil (USD/bbl) 108 106 2.07 Light Sweet Crude Oil gained 2.07% and closed at $108 per barrel. Gold closed up byGold (Rs/10gm) 21,471 21,262 0.98 0.98% at Rs 21,471 and silver closed up by 2.86 % at Rs 61,250.Silver (Rs/kg) 61,250 59,548 2.86 The Indian Rupee closed lower against the dollar at Rs 44.50 as the Indian equityCURRENCY 13-Apr 11-Apr % Change benchmarks ended on a positive note.INR / USD 44.50 44.38 0.27USD / Euro 1.45 1.44 0.55Yen / USD 84.10 84.69 (0.70)
  3. 3. April 15, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSEKC 87.4 88.3 0.97 JPMorgan Chase & Co posted higher first-quarter earnings as it set aside less money toIRB Infra 210.4 212.4 0.97 cover bad loans.Ruchi Soya 104.0 105.0 0.96FINANTECH 896.0 904.0 0.89 The development banks of the five BRICS nations agreed in principle on Thursday toCipla 323.6 326.4 0.87 establish mutual credit lines denominated in their local currencies, not in dollars.IGL 312.8 315.5 0.85Mundra Port 147 148.25 0.85 Chinese inflation in March accelerated to as fast as 5.4% from a year earlier, Hong Kong media said reinforcing the governments vow to rein in price rises.Patni 478.9 437.0 (8.75)Core projects 327.0 308.0 (5.81) Chinese banks may have to raise about 860 billion yuan ($131 billion) of stock over sixHero Honda 1753.0 1,671.8 (4.63) years to meet stricter capital rules.Concor 1298.0 1,275.2 (1.76)Bhushan steel 500.2 494.1 (1.21) The government of India is believed to have cleared an agriculture ministry proposal to give a bonus of Rs 50 per quintal over and above the minimum support price ofINSTITUTIONAL ACTIVITY (Rs Cr) 1-Apr 31-Mar YTD wheat, which currently stands at around Rs 1,120 per quintal for the 2011-2012 crop-FII Cash Net - 725 (867) marketing season that started in April.FII Stock Futures (512) (4,974) 2,809FII Index Futures (123) 1,337 3,806 President Barack Obama’s call for raising taxes by focusing on spending in the tax code was immediately rejected by top Republicans, signaling that any effort toMutual Fund (123) (359) 1,957 increase the government’s take from the economy would be difficult to move through Congress.VALUATIONS P/E P/B DIV YLDBSE 21.4 3.7 1.1 March inflation numbers are expected to be announced today.NSE 22.4 3.8 1.1BSE500 Mcap/GDP Ratio 0.64 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Jaiprakash Asso 98.2 7.09 Sun Pharma Adv 94.8 20 Hatsun Agro 231.7 20.0Hero Honda 1735.1 5.86 Sterlite Tech 68.4 9.53 CCL Products 269.3 19.7HDFC 717.2 3.92 JM Financial 29.6 8.03 Dev Credit Bank 57.0 15.5HDFC Bank 2372.1 3.3 Usha Martin 61.6 7.69 VST Inds 799.5 14.4L&T 1717.6 3.26 Godrej Inds 192.7 5.62 Hawkins Cook 1115.1 12.7TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Tata Power 1310.6 -0.51 Kwality Dairy 140.4 -5.23 Geojit Bnp 25.7 -6.4Sterlite Inds 172.9 -0.4 Essar Ship Ports 103.0 -4.76 Acropet Tec 46.2 -4.9- - - Himadri Chem 38.8 -3.13 Empower India 10.2 -4.9- - - Bajaj Elect 274.1 -2.73 Sahara One 159.2 -4.8- - - Emami 395.6 -2.71 Himachal Futur 14.9 -4.3 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSECamlin Ltd. Crosseas Capital Services Pvt. Ltd. BUY 0.92% 74.7Development Credit Bank L Rare Enterprises BUY 0.60% 55.4Excel Infoways Limited H Nyalchand Financial Services Private Limited BUY 0.50% 38.4Glory Polyfilms Limited Planet Investments & Finance Pvt Ltd SELL 1.20% 3.8Gruh Finance Limited Crosseas Capital Services Pvt. Ltd. SELL 1.69% 504.4BSEAbirami Fin Sonal Gupta BUY 0.95% 11.8Arcadia Merc Amrapali Capital And Finance Services Limited BUY 2.41% 58.2Bampsl Sec Kaushalaya Garg BUY 4.20% 4.3Bhagwati Auto Rahul Sharma SELL 0.57% 46.6Bhandari Hos Vijay Ghanshyambhai Pujara SELL 0.99% 30.4

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