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Daily Newsletter: 19th May, 2011

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Daily Newsletter: 19th May, 2011

  1. 1. May 19, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 18-May 17-May % Change COMMENTARYBSE Sensex 18,086 18,138 (0.28) INDIANSE Nifty 5,421 5,439 (0.34) The markets closed in the red for the third consecutive day of the week as heavyweights RIL, SBI and ONGCBSE Midcap 6,763 6,804 (0.60) witnessed selling pressure through the day. A possible contraction in loan growth of Indias largestBSE Smallcap 8,190 8,225 (0.43) commercial bank in next few quarters was reflected in realty and auto stocks. The bears switched gears fromNifty Junior 10,988 11,112 (1.11) heavyweights to broader markets as many midcap and smallcap stocks opened huge cuts despite flatCNX Midcap 7,862 7,917 (0.70) closing for the benchmark index.The BSE benchmark index closed the day down 51 points at 18,086 and the Nifty shed 18 points to end at 5,420.The broader markets reacted even more sharply with the smallcap index closing at 8,189, down 0.8% and the midcap index shedding 0.6% to close at 6,762, both underperformingGLOBAL MARKETS 18-May 17-May % Change the Sensex.Dow Jones Ind (USA) 12,560 12,480 0.65Nasdaq Composite(USA) 2,815 2,783 1.14 The market breadth remained sluggish. Of the total 2,911 stocks traded on the BSE, 1,751 stocks declined while 1,018 gained. All eyes are now set on EGoM (Empowered Group of Ministers) meet which is scheduledS&P 500 (USA) 1,341 1,329 0.88 for the next week. The main agenda of this meeting will be diesel price hike and subsidy sharing mechanism.FTSE 100 (UK) 5,923 5,861 1.07DAX (Germany) 7,304 7,257 0.65 GLOBAL MARKETSNikkei 225 (Tokyo) 9,662 9,567 0.99 US stocks closed positive after the U.S. Federal Reserve signalled interest rates will remain low and decline inHang Seng (Hong Kong) 23,011 22,901 0.48 the dollar index to 75.25. Commodities were strong, suggesting a willingness among participants to returnShanghai Comp (China) 2,872 2,853 0.68 to risk as oil prices spiked more than 2%. DJIA closed at 12,560, up 0.65%; S&P closed at 1,341, up 0.88% andKOSPI (South Korea) 2,136 2,102 1.60 Nasdaq closed at 2,815, up 1.14%.STI (Singapore) 3,141 3,136 0.15MSCI Emerging Market 435 435 0.00 Asian stocks have opened positive as metal prices rise on bets Chinese demand will escalate. Hang Seng is up 0.32%, Strait Times is up 0.47% while Nikkei is down 0.22%.MSCI Frontier Market 556 557 (0.18)BOND MARKETS 18-May 17-May Change10yr G-Sec Yield 8.28 8.26 0.02 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.20 8.20 (0.00) Automobile major Bajaj Auto reported a net profit of Rs 1,400 cr for the quarter ended March 31, 2011.LIBOR (6m) 0.46 0.46 0.00 This marks a 165% jump from the Rs 528.6 crore reported for the corresponding period a year ago. TotalLIBOR (1m) 0.26 0.25 0.01 income for the quarter increased 25% to Rs 4,300 crore from Rs 3,442 crore posted in year-ago period.Interbank Call rate 7.4 7.4 (0.02) Consolidated net profit for the financial year ended March 31, 2011 rose 116% to Rs 3,454.8 crore from Rs 1,594.6 posted for the year ended March 31, 2010. Total Income has increased 40.6% from Rs 12,096.6 crore for the year ended March 31, 2010 to Rs 17,008 crore for the year ended March 31, 2011. The automobile sales of the company stood at 38,23,954 units in FY11 compared to 28,52,580 units in FY10, BSE Turnover Rs Cr(000) Sensex up 34.05%. 18600 3.0 18500 Larsen & Toubro (L&T) has secured a contract worth Rs 1,450 crore from Gujarat State Petroleum 2.5 18400 Corporation (GSPC). 18300 2.0 18200 1.5 Godrej Appliances, the consumer durables division of Godrej Group, said that it expects a 35% growth 18100 in sales to Rs 2,700 crore this fiscal through a slew of initiatives, which include ramping up its presence in 1.0 smaller cities and expanding its product portfolio. 18000 17900 0.5 Reliance ADA Group, a leading Indian conglomerate, will invest between $5 billion and $10 billion in 17800 0.0 mining infrastructure in Indonesia, the investment chief of Southeast Asias biggest economy said on 12-May 13-May 16-May 17-May 18-May Wednesday. ONGC Videsh (OVL), the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), said that it has signed an agreement for cooperation with Uzbekistans Uzbekneftegaz, the national oil company NSE Turnover Rs Cr(000) Nifty of Uzbekistan for joint cooperation in the upstream E&P sector of Uzbekistan. 5600 12 5550 10 Aurobindo Pharma has paid $139.2 million (over Rs 600 crore) for the redemption of outstanding 8 overseas bonds issued in 2006. 5500 88.38 #DIV/0! 6 HPCL will import 12.5 million tonnes of crude oil in 2011-12, including one million tonnes from the spot 5450 market, its head of refineries K Murali said on Wednesday. Of the total imports, 11.5 million tonne will be 4 5400 through term deals. 2 5350 0 Cairn India, majority held by Cairn Energy is interested in expanding into East Africa, a senior company 12-May 13-May 16-May 17-May 18-May executive said on Wednesday.
  2. 2. May 19, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 18-May 17-May % Change CORPORATE NEWSIT 6,017 6,003 0.24% Orchid Chemicals and Pharmaceuticals said that its consolidated net profit declinedFMCG 3,792 3,784 0.20% by 53.96 per cent to Rs 156.18 crore for the year ended March 31, 2011. The companyTECk 3,617 3,613 0.12% had posted a net profit of Rs 339.25 crore for the fiscal ended March 31, 2010.CG 12,544 12,547 -0.03% Home-grown FMCG firm Dabur said that it will invest up to Rs 200 crore this fiscal toMETAL 15,128 15,147 -0.13% expand operations, which will include setting up three new factories overseas by nextPOWER 2,562 2,569 -0.25% year. The company will set up one plant each in South Africa, Kenya and Sri Lanka. ItCD 6,250 6,285 -0.54% expects the two factories in Africa to start production by June next year.BANKEX 12,079 12,163 -0.69%REALTY 2,120 2,140 -0.92% Varun Shipping Company has signed a contract with Petrobras, Brazil, a GovernmentAUTO 8,970 9,059 -0.98% of Brazil undertaking, for three anchor handling towing and supply vessels.HC 6,109 6,196 -1.40%PSU 8,409 8,560 -1.77% Automotive glass maker Saint Gobain Sekurit India Ltd said on Wednesday itsOIL&GAS 9,186 9,361 -1.88% promoters Saint Gobain Glass India Ltd and Saint-Gobain Securit SA France have proposed to delist the company from the Bombay Stock Exchange. The promoters plan to purchase 14.23% of the company at an offer price of not more than Rs 31 per share. Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Ambani Groups Reliance Capital increased its stake in state-run oil producing and marketing firm Hindustan Petroleum Corporation (HPCL) to 5.02% for over Rs 12.80 crore.BSE Upper Circuit BreakersCompany Name 18-May 17-May % Change IL&FS Engineering and Construction Company (IFCC) has been awarded a contractKalyani Forge 147.0 140.0 5.00 of approximately $100 million by Prime Star Energy FZE (PSE) for construction of aVisagar Polytex 254.3 242.2 5.00 storage tank terminal at Fujairah, UAE.Neelamalai Agro Industries 314.7 299.8 5.00 Suven Life Sciences said that it has completed trials on animals of its SUVN-502Gamma Infoway Exalt 3.2 3.0 5.00 0 molecule, which is to be developed for treatment of central nervous system disordersSolix Technologies 21.0 20.0 5.00 like Alzheimers disease and schizophrenia. Radico Khaitan Ltd., one of the largest liquor companies in the country, announced its audited fourth quarter results for the year 2010-11. The company has registered Net profit of Rs. 174mn as compared to Rs. 96mn in the corresponding quarter of FY2010. The company registered Net Sales in Q4 of FY2011 at Rs.3.33bn, against sales ofBSE Lower Circuit Breakers Rs.2.97bn over corresponding quarter in the previous year, thereby showing a growthCompany Name 18-May 17-May % Change of 12.1%.Company Name 16.5 17.4 (5.00) Real estate developer Alpha G Corp said it plans a capital expenditure of Rs 3,500 croreTuticorin Alkali Chemicals & Fertilisers 14.3 15.0 (5.00) in its upcoming residential and commercial projects in various parts of the country inVaishnavi Gold 41.9 44.1 (5.00) next five years and eyeing revenue of Rs 5,000 crore from them.Geefcee Finance 345.3 363.5 (5.00)Sks Microfinance 158.9 167.3 (5.00) The total approximate earnings of Indian Railways on originating basis during April 2011 were Rs. 8,080.55 crore compared to Rs. 7,296.69 crore during the same period last year, registering an increase of 10.74%.The total goods earnings have gone up from Rs. 4,950.64 crore during April 2010 to Rs. 5,565.53 crore during April 2011, showing an increase of 12.42%. The total passenger revenue earnings in April 2011 were Rs. 2,213.05 crore compared to Rs. 2,066.46 crore during the same period last year, registering an increase of 7.09%.The revenue earnings from other coaching amounted to Rs. 223.07 crore during April 2011 compared to Rs. 201.92 crore during the same period last year, showing an increase of 10.47%.COMMODITY 18-May 17-May % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 113 111 2.18 0.71 Brent Crude Oil closed 2.18% higher at $112.9 per barrel. Gold closed up by 0.71% atGold (Rs/10gm) 21,986 21,830 21,986 and silver closed up by 3.93% at Rs 53,774.Silver (Rs/kg) 53,774 51,740 3.93CURRENCY 18-May 17-May % Change The Indian Rupee closed up by 0.33% against the dollar at Rs 45.16 as the Indian equityINR / USD 45.01 45.16 (0.33) benchmarks ended on a negative note.USD / Euro 1.42 1.43 (0.36)Yen / USD 81.55 81.40 0.19
  3. 3. May 19, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSConcor 1095.1 1,106.9 1.08 Coal shortage in the country has become a serious issue. This is clearly evident fromVideocon Indus 188.1 190.0 1.01 the fact that as of end–February 2011, 32 power stations had coal stock to last for lessJindal Saw 170.2 171.7 0.91 than 7 days, while 18 had stocks enough for less than 4 days, against a normalDivis Lab 708.0 713.9 0.83 stockpile for about 21 days. This is impacting Plant Load Factor (PLF) in severalOn Mobile 110.0 110.8 0.73 Thermal Power Plants across the country, at a time when electricity demand is at itsGlaxo 2333.2 2,349.0 0.68 peak.PFC 218.4 204.3 (6.48)Maruti 1230.0 1,199.0 (2.52) The government has stepped up to evaluate the performance of the economy in aPunj Lyod 57.5 56.2 (2.35) more efficient way by including natural gas and fertilisers in the list of core sector infrastructure industries.The government assess the performance of six key sectorsHero Honda 1834.0 1,816.0 (0.98) namely, crude oil, petroleum refinery, cement, electricity, finished steel and coal, on aUnion Bank 319.0 316.5 (0.78) monthly basis. The new series, which will have data for eight key sectors, would beHOEC 181.5 180.2 (0.72) released on June 10.INSTITUTIONAL ACTIVITY (Rs Cr) 12-May 11-May YTD Taxmen have seized black money to the tune of a whopping Rs 30,000 crore in theFII Cash Net 101 244 5,025 country in the past two years, said the Central Board of Direct Taxes (CBDT) which isFII Stock Futures (32) 256 (3,949) set to get investigative powers to boost its drive against wrong-doers.FII Index Futures (1,457) (1,665) (6,337)Mutual Fund (89) 144 1,920 Over 6.76 million metric tonne of wheat has arrived in various grain markets of Haryana so far this season as against total arrivals of 6.36 million metric tonne lastVALUATIONS P/E P/B DIV YLD season. Record wheat arrival of 6.92 million metric tonne was recorded in the state inBSE 19.7 3.5 1.1 the year 2009-10, a spokesman of the states Food and Supplies Department said here .NSE 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 %HDFC 645.8 2.34 Shoppers Stop 402.1 10.10 Dunlop India 60.0 13.54Hero Honda 1836.6 1.93 Bajaj Finserv 522.0 5.35 BL Kashyap 23.3 9.15Maruti Suzuki 1230.0 1.75 Eclerx Serv 737.0 4.61 Dalmia Bharat Ent 175.1 9.13Wipro 445.5 1.71 Ramky Infra 271.0 3.87 Kalyani Invest 800.0 8.17Tata Power 1249.7 1.50 Shree Global Trd 200.0 3.65 LLOYDS MET E 44.0 7.19TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Reliance Infra 561.1 -4.11 Kwality Dairy 89.8 -10.07 Nouveau Multi 13.5 -9.73Tata Motors 1149.6 -3.36 Anant Raj Inds-$ 65.4 -8.79 MIC Electronics 20.5 -8.30Reliance Comm 86.1 -3.31 Opto Circuits 278.6 -5.75 Kama Holdings-$ 430.0 -8.03SBI 2355.7 -2.40 Punj Lloyd 57.6 -5.03 Shiv Vani Oil-$ 255.1 -7.42Jaiprakash Asso 81.2 -2.23 NCC 90.4 -4.99 Som Distill 159.0 -6.88 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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