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Daily Newsletter: 17th May, 2011

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Daily Newsletter: 17th May, 2011

  1. 1. May 17, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 16-May 13-May % Change COMMENTARYBSE Sensex 18,345 18,531 (1.00) INDIANSE Nifty 5,499 5,545 (0.82)BSE Midcap 6,850 6,903 (0.77) The Indian market ended near day’s low on Monday, starting the week with a negative bias in sync with theBSE Smallcap 8,307 8,368 (0.74) Asian and European markets, which too were in the red for the day. The inflation data which appears to beNifty Junior 11,146 11,185 (0.36) better than the previous month largely due to the base effects failed to make any impression on the marketCNX Midcap 7,978 8,035 (0.71) amid fears that petrol price hike would eventually heighten inflation. The shares of rate-sensitive banking and real estate companies dipped more than 1% each and barring, Pharma & Consumer Durables indices, all the other BSE sectoral indices ended in the red. The state-owned oil marketing companies raised the pricesGLOBAL MARKETS 16-May 13-May % Change of gasoline by 8.5% prompting concerns of acceleration in inflation. Of the 2,899 stocks traded on the BSE,Dow Jones Ind (USA) 12,548 12,596 (0.38) 1,059 advanced, while 1,695 declined, making the market breadth negative.Nasdaq Composite(USA) 2,782 2,828 (1.63) GLOBAL MARKETSS&P 500 (USA) 1,329 1,338 (0.62)FTSE 100 (UK) 5,924 5,926 (0.04) U.S. stocks retreated, extending a two-week slump for the Standard & Poor’s 500 Index, as Greece soughtDAX (Germany) 7,388 7,403 (0.21) additional bailout funds and a report showed that manufacturing growth in the New York region cooled. TheNikkei 225 (Tokyo) 9,558 9,649 (0.94) S&P 500 dropped 0.6 percent to 1,329.47 after gaining as much as 0.4 percent. The Dow Jones IndustrialHang Seng (Hong Kong) 22,961 23,276 (1.36) Average slumped 47.38 points, or 0.4 percent, to 12,548.37. The 30-stock gauge declined during the first twoShanghai Comp (China) 2,850 2,872 (0.76) weeks of a month for the first time since July 2009.KOSPI (South Korea)* 2,104 2,121 (0.78)STI (Singapore) 3,136 3,164 (0.86) Asian markets have opened on a negative note as Nikkei is trading down 0.42%. Hang Seng is down 0.59%MSCI Emerging Market 435 439 (0.87) and Shanghai is down 0.27%. Singapore markets are shut today.MSCI Frontier Market 557 562 (0.84)BOND MARKETS 16-May 13-May Change10yr G-Sec Yield 8.26 8.27 (0.01) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.20 7.76 0.44 Sajjan Jindal-led JSW Steel reported a growth of 29.88% in its consolidated net profit at Rs 793.63 croreLIBOR (6m) 0.46 0.46 0.00 for the quarter ended March 31, 2011. The company had posted a net profit of Rs 611.02 crore during theLIBOR (1m) 0.25 0.25 0.00 same period last fiscal. The net sales of the company stood at Rs 7,209.35 crore, up 32.49% during theInterbank Call rate 7.4 7.4 (0.02) January-March quarter vis-a-vis Rs 5,441.30 crore in the corresponding period of 2009-2010. Software services firm CMC Ltd has won an order from the Life Insurance Corporation of India for the implementation of its LIC Aadhaar project under the Unique Identification Authority of India. BSE Turnover Rs Cr(000) Sensex 18650 3.0 Engineering and construction major Larsen & Toubro has received an order over Rs 3,500 crore from 18600 Chennai-based PPN Power Generating Company. The order is for setting up a 3X360 MW gas-based 2.5 18550 power plant at Pillaipermalnallur in Nagapattiam in Tamil Nadu. 18500 2.0 18450 Drug discovery research and development organisation GVK Biosciences has been selected as a 1.5 18400 preferred provider to a consortium of 14 global Product Development Partners (PDPs) for clinical services 18350 1.0 in Asia. 18300 0.5 18250 Aditya Birla Minacs, a global business solutions provider and a subsidiary of Aditya Birla Nuvo, 18200 0.0 announced the inauguration of its second delivery centre at Makati City in the Philippines. The 3,000 10-May 11-May 12-May 13-May 16-May square metre facility, with 600 seats, is the latest addition to the company’s global delivery network. Archies has said that Unicef, a UN agency working in the field of child education and welfare, has appointed the company as an exclusive licensee to manufacture, retail and distribute UNICEF greeting NSE Turnover Rs Cr(000) Nifty cards and paper products in India. 5580 12 5560 10 The SBI rights offering, widely anticipated by investors and market intermediaries, may have to be 5540 8 pushed back to the next financial year with the government finding it difficult to fish out Rs 11,000- 5520 88.38 #DIV/0! 12000 crore required to keep its shareholding in the bank unchanged at 59%. 6 5500 4 State-owned Coal India is in negotiations to pick 15 per cent stake in a joint venture with US-based coal 5480 firm Peabody Energys USD 600 million mining project in Australia 5460 2 5440 0 10-May 11-May 12-May 13-May 16-May
  2. 2. May 17, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 16-May 13-May % Change CORPORATE NEWSHC 6,207 6,149 0.93% The Fertiliser Ministry is considering the waiver of Rs 550 crore worth of governmentCD 6,224 6,210 0.22% loans and accrued interest owed by Madras Fertilisers Ltd (MFL) with the objective ofPOWER 2,584 2,593 -0.36% reviving the sick PSU.CG 12,627 12,689 -0.48% Srei Infrastructure Finance Ltd plans to raise $500 million-1 billion from foreignTECk 3,610 3,629 -0.52% investors for a dedicated fund to be set up by March next year to invest in IndianAUTO 9,153 9,222 -0.75% infrastructure projects.IT 5,994 6,040 -0.75%PSU 8,756 8,830 -0.83% Global information technology company 3i Infotech Limited has signed an agreementOIL&GAS 9,674 9,769 -0.97% to sell its US-based Global Billing and Payments unit, consisting of Regulus Group andFMCG 3,764 3,803 -1.02% J&B Software, to an affiliate of Cerberus Capital Management LP for Rs 617 crore ($137BANKEX 12,442 12,590 -1.18% million).METAL 15,180 15,404 -1.45%REALTY 2,146 2,178 -1.47% BPO major Genpact said that its CEO and President Pramod Bhasin has decided to step down from his post and as member of the board. Current Chief Operating Officer N V Tyagarajan will take over Bhasins role, with effect from June 17, 2011. Vishal Retail Ltd posted standalone net profit of Rs 10.47 crore for the fourth quarter ended March 31, 2011, compared to a loss of Rs 128.92 crore in the same period last fiscal, primarily on the back of gain from an extra ordinary item. The companysBSE Upper Circuit Breakers standalone net sales for the three months period under review declined 37.99% to RsCompany Name 16-May 13-May % Change 157.88 crore, as against Rs 254.63 crore in the same period last fiscal.Ruchi Strips & Alloys Ltd 22.4 18.7 19.80Sabero Organics Gujarat Ltd. 69.4 57.8 20.00 Edible oil-maker Ruchi Soya Industries (RSIL) clocked 25.76 per cent growth in netCompetent Auto Co.Ltd. 51.7 49.3 5.00 profit to Rs 21.77 crore in the quarter ended March 31. The companys net profit stood at Rs 17.31 crore in the fourth quarter of FY10.Arman Financial Services Ltd. 23.4 22.3 4.90 0Aksharchem (India) Ltd. 20.0 19.1 5.00 Japanese car giant Toyota said that it will resume normal production in India from May 20 after being compelled to slash output by 70% since April 25 due to component supply constraints following the devastating earthquake and tsunami that hit the island nation. During the period of low operations, production was curtailed by about 10,000 units, translating into a revenue loss of about Rs 650 crore for its Indian entity, Toyota Kirloskar Motor (TKM).BSE Lower Circuit BreakersCompany Name 16-May 13-May % Change A ministerial panel is likely to meet on May 27 to consider Cairn Energys sale of aParenteral Drugs (India) Ltd. 139.5 155.0 (10.00) majority stake in its Indian unit to Vedanta Resources, a full seven days after the current deadline for closing the deal expires.Empee Sugars & Chemicals Ltd. 33.6 37.3 (9.90)Suryaamba Spinning Mills Ltd. 64.4 71.5 (9.90) Budget carrier SpiceJet announced launch of flights connecting Delhi and Bangalore toCSS Technergy Ltd. 29.2 32.4 (9.90) Nagpur in Maharashtra which is the 21st destination on the airlines domestic route.Ranklin Solutions Ltd. 24.2 25.4 (4.90) Foraying into Bangladesh for the first time, Rajkot-based Atul Auto has launched its Atul Gem rear engine six seater passenger vehicle in the neighbouring country through Atul Autos Bangladesh Ltd. Glenmark Pharmaceuticals SA, a wholly owned subsidiary of Glenmark Pharmaceuticals Limited, said that it has outlicenced its novel monoclonal antibody, GBR 500, to French drug-maker Sanofi for as much as $613 million.COMMODITY 16-May 13-May % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 111 112 (1.61) - Brent Crude Oil closed 1.61% lower at $111 per barrel. Gold was unchanged and silverGold (Rs/10gm) 21,970 21,970 closed down by 2.25% at Rs 52,464.Silver (Rs/kg) 52,464 53,670 (2.25)CURRENCY 16-May 13-May % Change The Indian Rupee closed lower against the dollar at Rs 45.10 as the Indian equityINR / USD 45.10 45.00 0.23 benchmarks ended on a negative note.USD / Euro 1.41 1.41 0.21Yen / USD 80.96 80.90 0.07
  3. 3. May 17, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSBosch Ltd. 6702.0 6,799.0 1.45 Indias headline inflation eased in April on lower manufacturing prices as theChennai Petro 217.6 219.7 0.97 wholesale price index, the countrys main inflation gauge, rose an annual 8.66 percentMRF 7029.0 7,093.0 0.91 in April, above the median forecast of 8.48 percent rise in a Reuters poll and lowerBombay Dyeing 341.0 344.0 0.88 than an upwardly revised annual rise of 9.04 percent in March. The food price index,Bharat Electronics 1720.0 1,735.0 0.87 which contributes just over 14 percent in the wholesale price index, rose 8.71 percentContainer Corp. 1103.0 1,112.0 0.82 and the fuel price index climbed 13.32 percent in April.Ambuja Cement 140.1 138.5 (1.18)SBI 2613.0 2,578.0 (1.34) Growth in Indias diesel consumption slowed to an annual 1.7 percent in April, itsBank of Baroda 900.0 887.0 (1.44) lowest rise since September, as fewer power outages cut demand from farms and industry. Indias power generation rose an annual 6.8 percent in April, as the countryTata Motors 1218.0 1,198.9 (1.57) added more capacity in the fiscal year that ended in March. Consumption of petrolHero Honda 1872.0 1,841.2 (1.65) rose by an annual 7.5 percent in April but demand for the fuel is expected to ease inPFC 218.0 204.5 (6.22) May after a record 5 rupees per litre increase in gasoline prices.INSTITUTIONAL ACTIVITY (Rs Cr) 10-May 09-May YTD Glencore International, the worlds largest diversified commodities trader has revisedFII Cash Net 101 244 5,658 the price range for its planned $11 billion initial public offering to 520-550 pence perFII Stock Futures 153 253 (4,172) share, from an earlier guidance of 480-580 pence each.FII Index Futures 666 539 5,626Mutual Fund 136 (103) 1,474VALUATIONS P/E P/B DIV YLDBSE 19.7 3.5 1.1NSE 20.4 3.5 1.2BSE500 Mcap/GDP Ratio 0.63 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Hero Honda 1865.0 3.87 Glenmark Pharma 305.9 11.54 Halonix 104.3 19.20BHEL 2050.7 0.93 MVL 28.7 6.49 Saint Gobain 32.8 15.93Bharti Airtel 370.3 0.83 Sun Pharma Adv 87.3 6.47 Ajanta Pharma 273.7 6.69TCS 1127.9 0.01 Gammon Infra 18.5 4.83 Prime Focus 57.5 5.80- Wockhardt 346.0 4.20 Camlin-$ 72.1 5.26TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Jaiprakash Asso 84.8 -3.20 CMC 2515.0 -6.63 Excel Crop 176.0 -15.89Bajaj Auto 1300.9 -2.72 Glaxosmithkl Cons 2164.9 -5.74 Parenteral Drug 139.5 -9.97Mahindra & Mahindra 673.2 -2.71 Essar Ship Ports 93.8 -5.63 Empee Sugars 33.6 -9.92Tata Steel 578.3 -2.64 Mahindra & Mah Fin 656.0 -5.39 Hinduja Found 91.2 -9.39DLF 226.2 -2.58 Anant Raj Inds-$ 72.2 -5.06 Accentia Tech 83.0 -9.00 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSEAjanta Pharma Ltd Crosseas Capital Services Pvt. Ltd. BUY 0.57% 278.9Ganesh Housing Corp Ltd Janpath Marketing Pvt Ltd BUY 0.54% 131.8Man Industries (I) Ltd Man Steel And Power Limited BUY 0.78% 110.0Paramount Printpack Ltd Adroit Financial Services Private Limited SELL 0.76% 35.2Sabero Organics Gujarat BP Fintrade Private Limited SELL 0.50% 69.2BSEAsahi Infra Indravarun Trade Impex Pvt Ltd BUY 0.71% 10.9Paramount Print Crosseas Capital Services Private Limited BUY 2.87% 34.3Shekhawati Poly-Yarn Jhaveri Trading And Investment Pvt Ltd BUY 0.75% 34.6Tele Techno Delight Financial Advisor Pvt Ltd BUY 2.01% 0.4Havells India Saif III Mauritius Company Ltd SELL 1.29% 387.0

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