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Daily Newsletter: 17th June, 2011

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Daily Newsletter: 17th June, 2011

  1. 1. June 17, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 16-Jun 15-Jun % Change COMMENTARYBSE Sensex 17,986 18,133 (0.81) INDIANSE Nifty 5,397 5,447 (0.92)BSE Midcap 6,872 6,920 (0.70) At the end of a volatile session, the Indian markets closed in the red for a second straight trading session onBSE Smallcap 8,250 8,344 (1.13) Thursday, after the RBI increased policy rates for the 10th time in the past 15 months to contain inflation. TheNifty Junior 11,126 11,211 (0.76) Indian market was also pressured by all-round weakness in world equities on the back of heightened tension over Greeces worsening fiscal health and increasing evidence of a slowdown in the US economy. The BSECNX Midcap 7,969 8,014 (0.56) Sensex and the NSE Nifty index closed near day’s low as heavy offloading was seen in the frontline stocks like Reliance Industries, Bharti Airtel, TCS and L&T. Meanwhile, inflation in the Primary Articles group increased to 12.86% in the week under consideration from 11.52% in the week ended May 28. Inflation in the Fuel &GLOBAL MARKETS 16-Jun 15-Jun % Change Power group rose to 12.84% in the week ended June 4 from 12.46% in the preceding week. The BSE SensexDow Jones Ind (USA) 11,962 11,897 0.54 ended at 17,986 losing 147 points. The NSE Nifty closed at 5,397 losing 51 points.Nasdaq Composite(USA) 2,624 2,631 (0.29) The overall breadth was negative as 1,085 stocks advanced while 1,744 stocks declined.S&P 500 (USA) 1,268 1,265 0.18FTSE 100 (UK) 5,699 5,743 (0.76)DAX (Germany) 7,110 7,115 (0.07) GLOBAL MARKETSNikkei 225 (Tokyo) 9,411 9,575 (1.70) U.S. stocks rebounded, a day after the Standard & Poor’s 500 Index declined to a three-month low, as better-Hang Seng (Hong Kong) 21,953 22,344 (1.75) than-estimated housing starts and jobless claims reports tempered concern about a slowdown in theShanghai Comp (China) 2,664 2,705 (1.51) economy. The S&P 500 rose 0.2 percent to 1,268 while the Dow Jones Industrial Average advanced 64 points,KOSPI (South Korea) 2,047 2,087 (1.91) or 0.5 percent, to 11,962.STI (Singapore) 3,020 3,055 (1.14)MSCI Emerging Market 433 432 0.23 Asian markets are trading negative as Nikkei is down 0.20%, Hang Seng is down 0.26% and Strait Times isMSCI Frontier Market 550 548 0.36 down 0.32%.BOND MARKETS 16-Jun 15-Jun Change10yr G-Sec Yield 8.31 8.39 (0.08) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 The Reserve Bank of India (RBI) on Thursday hiked the key policy rates by 25 basis points (bps) in itsLIBOR (6m) 0.46 0.46 0.00 ongoing fight against stubborn inflation, showing increasing preference for price stability in the growth-LIBOR (1m) 0.25 0.25 0.00 inflation tradeoff. The repo rate now stands at 7.50%. The reverse repo rate will be 100 bps lower than theInterbank Call rate 7.45 7.35 0.10 repo rate at 6.50%.The bank rate and the CRR have been left unchanged at 6% each. Food inflation went down marginally to 8.96% for the week ended June 4 on the back of cheaper pulses and vegetables.Food inflation, as measured by the Wholesale Price Index (WPI), stood at 9.01% in BSE Turnover Rs Cr(000) Sensex the previous week, while it was over 21% in the first week of June last year. 18400 4.5 4.0 Oil & Natural Gas Corporation (ONGC) is likely to come out with its FPO in July, Divestment Secretary 18300 Sumit Bose was quoted as saying. ONGC is expected to raise up to US$2.8bn. 3.5 18200 3.0 2.5 Wind turbine maker Suzlon Energy said on Thursday it had got a 50.4 megawatt order from National 18100 2.0 Aluminium Co Ltd.The order is to set up, operate and maintain wind energy projects in the southern Indian 18000 1.5 state Andhra Pradesh and is scheduled for completion by January 2012. 1.0 17900 0.5 GVK Power and Infrastructure will buy two of Hancock Prospectings thermal coal mines in Australia for 17800 0.0 around $2.4 billion. 10-Jun 13-Jun 14-Jun 15-Jun 16-Jun Steel pipe maker PSL Ltd said that it expects to bag projects worth over $120 million from India and West Asia in the July-September quarter and aims to have an order book of about Rs 3,500 crore by March 2012. NSE Turnover Rs Cr(000) Nifty Textiles firm Mafatlal Industries said that its shareholders have approved the proposal to sell its land at 5520 12 Mazgaon in Mumbai to Gliders Buildcon LLP for Rs 605 crore. 5500 10 5480 Alfa Laval India - the Indian subsidiary of Swedish Alfa Laval Group -has received an order for a complete 5460 88.38 8 #DIV/0! solution to a vegetable oil plant in India. The order value is about Rs. 455 million and delivery is scheduled 5440 6 for early 2012, Alfa Lavals products such as separators, mixers, and heat exchangers will be used for 5420 5400 4 refining different types of crude oils - e.g. soyabean and palm - into high quality oils. 5380 2 The 13-day-long strike at Maruti Suzuki India Limited’s Manesar plant finally came to an end around 5360 5340 0 midnight on Thursday after hectic negotiations between the management, striking workers and Haryana 10-Jun 13-Jun 14-Jun 15-Jun 16-Jun labour department officials.
  2. 2. June 17, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 16-Jun 15-Jun % Change CORPORATE NEWSHC 6,377 6,386 -0.14% Housing Development Finance Corp (HDFC), Indias largest mortgage lender, aims toFMCG 3,879 3,891 -0.31% post an average of 20% annual growth in new lending in coming years, its chief executiveREALTY 2,115 2,123 -0.37% said, despite surging interest rates and competition.PSU 8,400 8,431 -0.37%POWER 2,546 2,557 -0.45% Hotel Leela Venture said that it is exploring opportunities to partner with real estate firms on a revenue sharing basis to develop its land bank in Hyderabad and Bangalore.BANKEX 12,077 12,143 -0.55%AUTO 8,555 8,624 -0.80% HCL Technologies Ltd, a global IT services provider have announced its partnership withOIL&GAS 9,117 9,197 -0.87% Trintech, a financial software provider. HCL will leverage Trintechs Last Mile of FinanceCD 6,621 6,695 -1.10% platform to deliver its customers with cost reduction and process improvementMETAL 14,457 14,628 -1.17% capabilities.CG 13,196 13,376 -1.35%TECk 3,598 3,650 -1.42% The government has approved over 54% increase in cost of the nations first strategicIT 5,934 6,034 -1.66% crude oil storage being built as insurance against supply disruptions. Australia and New Zealand Banking Group Limited (ANZ) yesterday have announced the commencement of banking operations in India with the opening of its first branch in Mumbai. Airbus has received an order worth $7.2 billion for 72 planes from GoAir, the latest in aBSE Upper Circuit Breakers series of Indian airlines scrambling to meet growing demand in India.The order for A320Company Name 16-Jun 15-Jun % Change planes brings GoAirs total order book with Airbus to $9.6 billion, Managing Director JehRajratan Global 182.2 151.8 20.00 Wadia told reporters on Thursday.GUJARAT BOROSIL 12.0 10.0 20.00Financial Eyes 53.0 48.2 10.00 Datamatics Software Services Limited, domestic subsidiary of Datamatics GlobalGMETCOAL 78.9 71.7 10.00 Services Ltd, a0Global Information Technology (IT) and Knowledge Process OutsourcingSOFTBPO GLOBAL SERVICES 265.7 253.0 5.00 (KPO) organization, today signed a definitive agreement to acquire a controlling stake in Vista Infosystems, an unlisted entity specializing in the Embedded Systems space. Uninor announced that it has crossed the significant 25 million subscriptions milestone in India. Uninor launched its commercial service in eight telecom circles in December 2009. With the launchof an additional 5 circles the company reached its current commercial footprintof 13 circles in June 2010. The 25 million milestone was thusBSE Lower Circuit Breakers reached in 18months of the first circle launch and within 12 months of completingCompany Name 16-Jun 15-Jun % Change itscurrent commercial footprint.Parenteral Drug 104.7 110.2 (5.00)Solix Tech 18.1 19.1 (5.00) Auto component maker Amtek Auto said that it has redeemed its convertible bonds, (5.00) which were due for maturity for $145.97 million (about Rs 654.33 crore).Techno Forge 14.8 15.6Unitech Intl 46.6 49.1 (5.00) The government has cancelled five coal blocks allocated to power companies, includingAnkush Finstock 5.7 6.0 (5.00) three to National Thermal Power Corporation (NTPC), due to their failure to develop them, within days of Coal Minister Sriprakash Jaiswals remarks that the decision to cancel the fields allocated to the PSU will be reviewed. The countrys largest two-wheeler maker Hero Honda said that it had launched refreshed versions of its motorcycles Glamour and Glamour F1. Tata Steel said that it has sold its 26.27% stake in Australian coal miner Riversdale to global mining major Rio Tinto for AUD 1.06 billion ($1.11 billion).COMMODITY 16-Jun 15-Jun % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 114 114 0.25 0.22 Brent Crude Oil closed flat at $114 per barrel . Gold closed up by 0.22% at Rs 22,499Gold (Rs/10gm) 22,499 22,450 and silver closed down by 0.58% at Rs 53,344.Silver (Rs/kg) 53,344 53,655 (0.58) The Indian Rupee closed lower against the dollar at Rs 44.91 as the Indian equityCURRENCY 16-Jun 15-Jun % Change benchmarks ended on a negative note.INR / USD 44.91 44.77 0.31USD / Euro 1.41 1.43 (1.40)Yen / USD 80.68 80.66 0.02
  3. 3. June 17, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSRUCHISOYA 96.6 97.5 0.93 Boeing forecasts a $4 trillion market for new aircraftover the next 20 years with aHEXAWARE 71.0 71.7 0.92 significant increase in forecasted deliveries.Thats according to the Boeing 2011HINDZINC 132.2 133.4 0.91 Current Market Outlook (CMO) released todayin Paris. The companys annualESCORTS 113.5 114.5 0.88 commercial aviation market analysis foresees a market for33,500 new passengerMRF 6800.0 6,859.0 0.87 airplanes and freighters between 2011 and 2030.CENTRALBK 116.3 117.3 0.86BAJAJHLDNG 764.3 728.3 (4.70) Tractor sales in India, may reportedly reach a record for a second year. The increase in tractor sales may be attributed to the rising farm output and all-time high commodityVIJAYABANK 71.8 69.5 (3.20) prices. According to reports, the demand may increase between 12% and 15% in theBAJAJ-AUTO 1352.5 1,316.0 (2.70) year that began on April 1, from about 540,000 units a year earlier.IOB 146.3 142.9 (2.32)SOBHA 254.0 249.9 (1.63) Flipkart, Indias leading e-commerce destination, today announced the Series CAPIL 561.1 552.4 (1.55) funding of US $20 million from existing investor Tiger Global. The funding, raised earlier this year from Tiger Global, will be used by Flipkart for building more capacityINSTITUTIONAL ACTIVITY (Rs Cr) 09-Jun 08-Jun YTD in supply chain and logistics, upgrading technology capabilities and expandingFII Cash Net 146 175 4,898 marketing initiatives. This funding takes the total investment in Flipkart close to USFII Stock Futures (145) (270) (2,469) $31 million.FII Index Futures (392) (268) 10,171Mutual Fund 45 22 1,792 The Export-Import Bank of India (Exim Bank) has entered into an agreement with Ethiopia for extending a $91 million line of credit to finance exports and consultancy services for development of the sugar industry in the East African nation.VALUATIONS P/E P/B DIV YLDBSE 19.4 3.6 1.1NSE 20.3 3.4 1.3BSE500 Mcap/GDP Ratio 0.60 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Reliance Infra 574.9 2.00 Century Tex 359.3 6.02 Shriram Epc 167.2 15.36Hindustan Unilever 320.4 1.10 D B REALTY 78.1 5.33 LOVABLE 449.0 14.84SBI 2205.8 1.09 SKS Microfinance 399.2 5.00 Genus Power 17.5 13.55BHEL 1943.0 0.67 Punj Lloyd 69.8 3.56 Entertainment Netw 272.8 10.65ONGC 269.3 0.35 Torrent Pharma 653.1 3.49 RBN 75.3 8.90TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %TCS 1151.7 -2.4 IVRCL LTD 70.5 -4.92 MIC Electronics 15.25 -13.35Sterlite Inds 159.0 -2.33 TTK Prestige 2654.4 -4.72 Zenith Info 203.00 -7.28L&T 1679.7 -2 Anant Raj Inds-$ 69.5 -4.4 SE Investments 11.74 -6.68Wipro 415.8 -1.99 Bank of Maharashtra 56.3 -4.33 WELPROJ 67.15 -6.48Maruti Suzuki 1189.5 -1.74 India Infoline 83.9 -4.17 Kalyani Invest 707.00 -5.57 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSEParamount Printpack Ltd Crosseas Capital Services Pvt. Ltd. BUY 0.71% 27.1Prithvi Information Solut Rajat Gandhi BUY 0.84% 37.4Ramco Industries Ltd Ramasubrahmaneya Rajha Ramasamy Rajha Poosapadi BUY 0.15% 43.9Neha International Ltd A3N Holdings SELL 0.58% 161.5Shalimar Paints Ltd R.M. Share Trading Pvt Ltd SELL 2.29% 498.4BSEAsahi Infra Indravarun Trade Impex Pvt Ltd BUY 0.71% 10.9Paramount Print Crosseas Capital Services Private Limited BUY 2.87% 27.6SCOPE IND Lakshmanarao Kondaveti BUY 0.75% 63.2Tata Coffee A K G Securities And Consultancy Ltd SELL 2.01% 820.3Micro Forge Rekha Garg SELL 1.29% 2.2

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