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Daily Newsletter - October 12, 2011


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Daily Newsletter - October 12, 2011

  1. 1. Oct 12, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 11-Oct 10-Oct % Change COMMENTARYBSE Sensex 16,536 16,557 (0.13) INDIANSE Nifty 4,975 4,980 (0.11) After witnessing a powerful rally in the previous trading session, the Indian markets chose to consolidateBSE Midcap 6,070 6,040 0.49 with the key indices finishing virtually unchanged after a promising start. The markets gave up all the gainsBSE Smallcap 6,802 6,787 0.22 and ended in the red due to selling in IT shares ahead of Infosys results. The main benchmarks witnessedNifty Junior 9,703 9,631 0.75 marginal profit booking at higher levels, with the BSE Sensex and the NSE Nifty ending near day’s low afterCNX Midcap 6,998 6,987 0.15 hitting days high in early morning trade. Nifty found stiff resistance at the 50 DMA, which was around the 5042 mark. BSE Sensex ended at 16,536, down 21 points. It had earlier touched a days high of 16,774 and a days low of 16,510 after opening at 16,668. India VIX swung wildly before ending marginally higher, closedGLOBAL MARKETS 11-Oct 10-Oct % Change up 0.9% at 30.30 after touching a days low of 28.15. The BSE Small-Cap index and the BSE Mid-Cap indexDow Jones Ind (USA) 11,416 11,433 (0.15) rose 0.2% and 0.5%, respectively. Market breadth was positive, 1,558 stocks advanced for 1,236 shares which declined.Nasdaq Composite(USA) 2,583 2,566 0.66S&P 500 (USA) 1,196 1,195 0.05 GLOBAL MARKETSFTSE 100 (UK) 5,396 5,399 (0.06) U.S stocks closed flat-negative as Slovakia rejected a bill to strengthen the powers of a Euro regional rescueDAX (Germany) 5,865 5,847 0.30 fund. Aluminum maker Alcoa Inc. plunged 5.6 percent in after-hours trading after reported that its earningsNikkei 225 (Tokyo) 8,774 8,606 1.95 slumped from the previous quarter, suggesting demand from Europe has slowed. Spanish banks includingHang Seng (Hong Kong) 18,142 17,711 2.43 Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA had their ratings cut by S&P, which citedShanghai Comp (China) 2,349 2,345 0.16 “dimming” growth prospects and “heightened” market turbulence. The Dow Jones industrial average endedKOSPI (South Korea) 1,795 1,766 1.62 down 17 points after moving between small gains and losses throughout the day. The index traded within aSTI (Singapore) 2,693 2,668 0.93 range of only 82 points, the narrowest since July 20. The relatively tepid trading came a day after the Dow surged 330 points, its largest increase since Aug 11.MSCI Emerging Market 350 342 2.34MSCI Frontier Market 476 474 0.53 Asian stocks snapped the biggest four-day rally since 2009, while U.S. index futures and commodities fell after Alcoa Inc.’s earnings missed analyst estimates and as progress to stem Europe’s debt crisis slowed. Nikkei is down 0.6 percent, Hang Seng is down over a percent and Strait Times is down 0.3 percent.BOND MARKETS 11-Oct 10-Oct Change10yr G-Sec Yield 8.70 8.70 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.51 8.45 0.06 Countrys largest lender State Bank of India (SBI) said that raising Rs 5,000 crore through the rightsLIBOR (6m) 0.21 0.21 0.00 issue, in the first phase by March, would be sufficient to help it achieve 8% capital adequacy.LIBOR (1m) 0.16 0.16 0.00Interbank Call rate 8.29 8.03 0.26 Pharma firm Lupin said it has launched a generic version of Femcon Fe, birth control chewable tablets, in the US market. Its US-based subsidiary Lupin Pharmaceuticals Inc has launched the generic version of Warner Chilcotts Femcon Fe Chewable tablets in strengths of 0.4mg/35mcg, the company said in a statement. BSE Turnover Rs Cr(000) Sensex 16800 3.0 Drug firm Aurobindo Pharma said it has received final approval from the US health regulator to 16600 manufacture and market generic Gabapentin tablets, used in the treatment of central nervous system 2.5 16400 (CNS) disorders, in the American market. 16200 2.0 Suzlon Energy Limited (SEL) has secured a repeat order from Sri Lanka-based Senok Group to supply 16000 1.5 10 units of Suzlons S88 2.1 MW wind turbine generators, aggregating 21 MW of wind power capacity. 15800 1.0 The project will be commissioned in two phases and be completed by May 2012. 15600 15400 0.5 State-owned NMDC will conduct an e-auction on Friday for the sale of 300,000 tonne of iron ore to steel 15200 0.0 and allied industries in Karnataka, which are struggling to keep their units operational due to an acute 5-Oct 6-Oct 7-Oct 10-Oct 11-Oct shortage of the raw material. BEML LIMITED, the premier Public Sector Company under the Ministry of Defence, engaged in the manufacture and supply of equipment to Core Sectors of economy viz., Mining and Construction, Rail & NSE Turnover Rs Cr(000) Nifty Metro, Defence & Aerospace, Trading and e-Engineering has forayed into Dredging business. 5050 12 5000 Shares of Dhanlaxmi Bank slid on Tuesday after the All-India Bank Officers Confederation (AIBOC) 12 4950 raised several questions on the private banks operations and approached the RBI regarding the same. 4900 88.38 #DIV/0!11 4850 For the first time in nearly a decade, the country’s largest car maker Maruti Suzuki India Limited (MSIL) 11 4800 could be headed for a production standstill. Workers across Suzuki Motor Corporation’s (SMC) three 4750 10 subsidiaries in the country are standing firm on their decision to continue an indefinite sit-in strike at 4700 the company’s Manesar facility. 10 4650 4600 9 5-Oct 6-Oct 7-Oct 10-Oct 11-Oct
  2. 2. Oct 12, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 11-Oct 10-Oct % Change CORPORATE NEWSCD 6,598 6,522 1.16% Telenors India mobile phone joint-venture partner, Unitech, said on Tuesday it had filedMETAL 11,221 11,113 0.97% a petition before the Company Law Board in India, alleging mismanagement of theAUTO 8,755 8,680 0.87% venture by the Norwegian firm and its key executives, escalating a rift between theCG 10,961 10,880 0.75% partners. Telenor and Unitech have been at loggerheads over a planned $1.7 billionPOWER 2,155 2,142 0.58% (about Rs 8,375 crore) rights issue in the joint venture, which trades under the Uninor 0.52% brand name. Telenor owns 67.25% of the joint venture and Unitech owns the remainder.PSU 7,450 7,411HC 5,871 5,841 0.50% TV channel operator Zee Entertainment Enterprises will launch 3-4 high definitionBANKEX 10,510 10,495 0.14% channels in FY13, adding to its total of regular 29 channels, Punit Goenka, managingREALTY 1,791 1,792 -0.04% diretor and CEO told reporters on Tuesday. The company, which also has sport channelsFMCG 3,905 3,920 -0.40% expects the business to break even between 2013 and 2014, he said.OIL&GAS 8,633 8,681 -0.56%TECk 3,233 3,280 -1.44% NEC India Pvt. Ltd, a leading network and IT solutions provider, announced a strategicIT 5,245 5,391 -2.70% alliance with Trimax IT Infrastructure & Services Limited (Trimax), an IT services and solutions provider, to explore opportunities in delivering “SaaS”[1] services [using an integrated application aggregation platform] As a part of this association, NEC will be leveraging Trimax’s data center capabilities to provide business applications such as CRM, ERP, Human Resource Management, Inventory, Security etc to the enterprise customers.BSE Upper Circuit Breakers Tata Housing Development Company Ltd., India’s fastest growing real estateCompany Name 11-Oct 10-Oct % Change development company, has announced the launch of THE PROMONT – theCommercial Engineers 37 31 20.00 luxurious, exclusive, gated community of terraced hillside residences on Bengaluru’ sCamson Bio 69.7 58.1 20.00 exclusive hill at Banashankari, South Bengaluru. Built on a unique outcrop, orIndag Rubber 143.3 119.4 20.00 promontory, THE PROMONT is an essay in height and grandeur.Waterbase 13.8 12.5 10.00 0 DHL, the world’s leading logistics company, has announced the launch of a Boeing 777FIndian Terrain 131.7 119.8 10.00 freighter service between Bangalore and Leipzig, in response to the growing air cargo demand into and out of South India. The Bombay High Court on Tuesday directed Wockhardt Ltd. to clear all dues to its bondholders by August next year and set a timeline for the repayment of Rs. 4.17bn. The court was hearing a winding-up petition against Wockhardt filed by a group ofBSE Lower Circuit Breakers foreign currency convertible bond (FCCB) holders, led by Singapore-based hedge fund 11-Oct 10-Oct % Change QVT Financial LP and an overseas unit of Sun Pharmaceutical Industries Ltd.Company Name Wockhardt defaulted on redemption of US$110mn (Rs 5.38bn) in October 2009.Aviva Inds 32.40 34 (5.00)Binayak Tex 569.9 599.9 (5.00) Karuturi Global, the city-based publicly-held floriculture major and one of the world’sClarus Finance 66.7 70.2 (5.00) largest exporter of roses which is aggressively rolling out an agriculture business ventureCressanda Sol 9.3 9.8 (5.00) in Ethiopia, is looking at outsourcing 20,000 hectares of farm land in the African nation toHimalaya Gran 16.2 17.0 (5.00) Indian farmers on a revenue-sharing basis. Sintex Industries, one of the leading plastic products makers in India has registered a drop of 23 per cent in its profits after tax (PAT) at Rs 79.83 crores for the second quarter ended September 30, 2011 against Rs 98.41 crore registered in the corresponding period last year. The company attributed the fall in PAT to exceptional loss on foreign currency convertible bonds (FCCB). Public sector fuel marketer Indian Oil Corporation (IOC) plans to increase its expenditure on research & development (R&D) by 40 per cent to Rs 350 crore for the next three to four years.COMMODITY 11-Oct 10-Oct % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 110 109 1.24Gold (Rs/10gm) 26,687 26,655 0.12 Brent Crude Oil ended up by 1.24% at USD 110.1 per barrel. Gold ended higher by 0.12% at Rs 26,687 and Silver closed up by 0.67% at Rs 53,395.Silver (Rs/kg) 53,395 53,038 0.67CURRENCY 11-Oct 10-Oct % Change The Indian Rupee closed lower against the dollar at Rs 49.33 as the Indian equityINR / USD 49.33 48.97 0.74 benchmarks ended on a negative note.USD / Euro 1.36 1.36 -Yen / USD 76.65 76.64 0.01
  3. 3. Oct 12, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSMRF 6,600.0 6,690.0 1.36 India and the Asian Development Bank (ADB) will join hands to commemorate 25 yearsINDIAINFO 71.8 72.7 1.18 of their partnership at a forum that will discuss Asia’s remarkable economic growth andCOREEDUTEC 281.0 284.0 1.07 the challenges it still has to overcome to realize its full potential.ALBK 149.5 151.0 0.97ONMOBILE 58.9 59.4 0.93 The Government may reportedly increase 51% cap in foreign direct investment (FDI) inABIRLANUVO 882.0 890.0 0.91 single-brand retail business.ABAN 387.9 378.5 (2.44)TTKPRESTIG 2,836.0 2,780.0 (1.97) CRISIL Research, India’s largest independent and integrated research house, estimatesVIPIND 920.1 904.7 (1.67) that rising interest rates would increase the equated monthly installments (EMIs) ofDJIA 11,355.0 11,185.0 (1.50) home loan borrowers by about Rs. 60 billion annually. Higher EMIs and a slowdown in economic growth would also result in an increase in non-performing assets (NPAs) ofARVIND 99.1 97.7 (1.46) financiers. On the other hand, as the teaser loan portfolio gets linked to the prevailingIDEA 95.6 94.3 (1.41) higher market rates starting April 2012, the profitability of financiers will increase.INSTITUTIONAL ACTIVITY (Rs Cr) 3-Oct 28-Sep YTD Wal-Mart Stores Inc and Facebook Inc reportedly announced their partnership to enableFII Cash Net -782.5 251.8 (2,227) the retailer connect customers with its local stores.FII Stock Futures -307.45 585.33 6,713FII Index Futures -483.79 -58.05 14,421Mutual Fund -233 -156.9 (225)VALUATIONS P/E P/B DIV YLDBSE 17.7 3.2 1.6NSE 17.6 3.1 1.6BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Sun Pharma 483.65 4.47 Wockhardt 448.1 11.59 Om Metals 29.3 19.88Tata Motors 176.75 3.64 JUBL FOOD 822.3 9.02 Gravita India 441.7 19.64NTPC 176.45 3.49 HMT 42.2 8.62 Career Point 278.7 11.59Bharti Airtel 374.8 3.18 Chambal Fert 95.9 8.00 ITI 23.6 11.58Jindal Steel 488.25 2.71 Rashtriya Chem 74.9 6.47 Garden Silk 76.9 11.38TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Infosys 2509.2 -3.17 Shri Ganesh Spi 8.7 -4.93 Zenith Info 115.0 -19.97TCS 1041.2 -2.26 Network18 Media 60.8 -3.72 DHANLAK BANK 64.5 -9.99Wipro 341.45 -2.04 Bayer Crop 813.2 -3.69 Orient Abr 34.2 -6.30ONGC 268.35 -1.88 Jyothy Lab 145.4 -3.29 Hatsun Agro 101.1 -5.51Hindustan Unilever 326.55 -1.76 IPCA Lab 239.8 -3.17 Clarus Finance 66.7 -4.99 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEGitanjali Gems Limited JAIWANTI MERCANTILES PRIVATE LIMITED BUY 1.53% 346.3Hexaware Technologies Lim ELDER VENTURE LLP BUY 2.53% 74.7Rushil Decor Limited PRAKASHBHAI ISHWARBHAI RANA BUY 1.27% 185.0Gravita India Limited CROSSEAS CAPITAL SERVICES PVT SELL 0.63% 442.7Savera Industries Ltd MANOJ KUMAR GOEL BUY 1.23% 40.5BSEBeryl Drugs GLOBALWORTH SECURITIES LIMITED BUY 0.80% 12.8Bloom Dekor SUNIL SITARAM GUPTA BUY 1.20% 14.7Eastern Sugar INDO AUSTRO CORPORATION PVT LTD SELL 1.52% 17.3Gemstone Invest KIRAN BHIKU BHANAES BUY 2.50% 8.8Vertex Sec MANISH RAMESHBHAI VYAS SELL 0.63% 206.9