Daily Newsletter - Sep 12, 2011


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Daily Newsletter - Sep 12, 2011

  1. 1. Sept 12, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 09-Sep 08-Sep % Change COMMENTARYBSE Sensex 16,867 17,166 (1.74) INDIANSE Nifty 5,060 5,153 (1.82) The Indian markets ended with heavy losses on Friday, with the NSE Nifty losing nearly 100 points in aBSE Midcap 6,435 6,490 (0.84) single day amid weak global cues and some profit booking. Traders and investors preferred to remainBSE Smallcap 7,304 7,359 (0.75) cautious and take away their profits ahead of the eventful week.Friday’s fall was led bye theNifty Junior 10,200 10,337 (1.33) Metals, Banking, Oil & Gas and the IT stocks. Even the BSE Mid-Cap and the Small-Cap stocks were underCNX Midcap 7,414 7,513 (1.32) pressure. On the other hand, BSE Consumer Durables index bucked the negative trend, the index gained 0.4%. Next week is full of major domestic events, with IIP, Inflation, RBI meet and Advance Tax data being among the important ones. It would be wise to remain cautious and be stock specific. Finally, the BSE Sensex ended at 16,867, losing 298 points. It had earlier touched a days high of 17,212 and a days low ofGLOBAL MARKETS 09-Sep 08-Sep % Change 16,831. It opened at 16,189. The NSE Nifty closed at 5,060, down 94 points.Dow Jones Ind (USA) 10,992 11,296 (2.69) The market breadth was negative; 1,663 stocks declined for 1,292 advancing shares on the BSE.Nasdaq Composite(USA) 2,468 2,529 (2.42)S&P 500 (USA) 1,154 1,186 (2.67)FTSE 100 (UK) 5,215 5,340 (2.35) GLOBAL MARKETSDAX (Germany) 5,190 5,408 (4.04) US stocks tumbled on Friday after the top German official at the European Central Bank resigned inNikkei 225 (Tokyo) 8,738 8,793 (0.63) protest of the banks bond-buying program, which has been a major tool in fighting the regions debtHang Seng (Hong Kong) 19,866 19,913 (0.23) crisis. ECB Executive Board member Juergen Stark will step down from his post by the end of the year, theShanghai Comp (China) 2,498 2,499 (0.05) bank said on Friday. The Dow Jones industrial average ended down 303.68 points, or 2.69%, at 10992.13. The Nasdaq Composite Index was down 61.15 points, or 2.42%, at 2467.99. The Standard & Poors 500KOSPI (South Korea) 1,813 1,846 (1.81) Index was down 31.67 points, or 2.67% percent, at 1154.2STI (Singapore) 2,825 2,857 (1.11)MSCI Emerging Market 392 390 0.51 On the back of steep fall in the US and the UK markets the Asian markets have started the new weekMSCI Frontier Market 502 499 0.60 deep in red. Nikkei is down by 2%. Hang Seng is down by 3.2%. SGX Nifty is also down by 80 points at 4,963 suggesting a gap down opening for our markets too.BOND MARKETS 09-Sep 08-Sep Change10yr G-Sec Yield 8.29 8.29 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.30 8.30 0.00 Reliance Industries said it has received a five-star rating under a health and safety audit by the BritishLIBOR (6m) 0.39 0.39 0.00 Safety Council of its onshore plant at Gadimoga, in Andhra Pradesh, where gas from the KG-D6 field inLIBOR (1m) 0.16 0.16 0.00 the Eastern Offshore is processed.This award recognises RILs adherence to the best industry safetyInterbank Call rate 8.0 7.9 0.08 practices at its Gadimoga plant and compliance with the best industry practices worldwide. The countrys largest auto-maker Tata Motors has launched a new version of its Vista model at a starting price of Rs 3.88 lakh (ex-showroom Delhi).The new model, which comes in both petrol and BSE Turnover Rs Cr(000) Sensex diesel engine versions, is now available in the market.The new Vista is powered by a 1.3-litre common 17200 3.5 rail direct injection Quadrajet diesel engine and a 1.4-litre MPFi Safire petrol engine. 17100 3.0 17000 Steel Authority of India Ltd (SAIL) said its proposed Rs 20,000 crore investment plan for capacity 2.5 expansion in West Bengal would be completed by June 2012.SAIL is setting up a 2.5 million tonne 16900 2.0 plant at Burnpur at a cost of Rs 16,000 crore and it would be completed in June 2012, he said.A sum of 16800 1.5 Rs 4,000 crore would be invested in Durgapur Steel Plant (DSP) and Alloy Steels Plant. DSPs capacity 16700 would be augmented to 2.5 million tonne from 2 million.SAIL is also implementing a 0.5 million tonne 16600 1.0 clean steel project in association with Kobe Steel of Japan at Alloy Steels Plant at a cost of Rs 1,500 16500 0.5 crore. 16400 0.0 5-Sep 6-Sep 7-Sep 8-Sep 9-Sep The National Highways Authority of Indias (NHAI) performance with respect to the upgrade of highways was dismal in the April-June quarter this year, as neither did it meet the target, nor did its efforts surpass the actual achievement in the same quarter last fiscal. NSE Turnover Rs Cr(000) Nifty Domestic car sales may be on a downhill drive, but exports from India have risen 22.39% in April- 5200 13 August period this fiscal over the same period last financial year.According to the latest data from 5150 Society of Indian Automobile Manufacturers, passenger car exports in April- August period this fiscal 13 stood at 2,17,409 units as against 1,77,634 units in the same period last year. 5100 88.38 #DIV/0! 12 5050 The electronic auction of iron ore stocks in Karnataka, as directed by the Supreme Court, will begin 12 from September 14 and iron and steel producers have been invited to register for it. 5000 4950 11 China’s key inflation rate moderated slightly in August from a three-year high, giving some elbow room to the policy makers in fighting the global slowdown led by the US and the eurozone. Consumer 4900 11 price inflation (CPI) climbed 6.2% from a year earlier, the National Bureau of Statistics said in Beijing 5-Sep 6-Sep 7-Sep 8-Sep 9-Sep reported .
  2. 2. Sept 12, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 09-Sep 08-Sep % Change CORPORATE NEWSCD 6,721 6,696 0.37% Steel Authority of India Ltd (SAIL) is expected to sign a 50:50 joint venture agreementFMCG 3,960 3,967 -0.16% with Kobe Steel within 3-4 months that will help it acquire the Japanese companysAUTO 8,754 8,832 -0.89% patented technology.The two companies are in talks to set up a 0.5 million tonneHC 5,983 6,049 -1.08% greenfield steel plant in India utilising Kobe Steels pioneering steel-makingCG 12,436 12,577 -1.12% technology, used for value added applications.PSU 7,665 7,758 -1.19% The countrys largest state-owned steel company, SAIL, is entering into passenger railwayPOWER 2,206 2,247 -1.83% coach manufacturing and is looking at the possibility of entering railway track laying.TECk 3,154 3,213 -1.84%REALTY 1,776 1,813 -2.05% Encouraged by support from Haryana labour authority and its parent Suzuki Motor CorpIT 4,950 5,066 -2.29% in the ongoing tussle with workers at the Manser plant, Maruti Suzuki India isOIL&GAS 8,618 8,821 -2.30% understood to be planning to recruit new permanent employees to replace the existingBANKEX 11,098 11,365 -2.35% ones.Production has been severely hit at the first plant in Manesar since August 29 whenMETAL 12,306 12,707 -3.16% the management prevented workers from entering the unit without signing a good conduct bond after alleged sabotage and deliberate quality compromise on some cars. Insufficient power supply has forced state-run National Aluminium Co Ltd (NALCO) to cut its daily aluminium output by about 6%, a senior company.The disruption caused by a scarcity of coal however will not affect the companys quarterly or yearly output target although the production may decline slightly by around 2,100-2,400 tonnes for aBSE Upper Circuit Breakers month.The company was receiving around ten thousand tonnes of linked coal daily forCompany Name 09-Sep 08-Sep % Change the past ten days from Mahanadi Coalfields Ltd (MCL)-a unit of state-run ColaJamshri Ranjit-$ 26 22 20.00 India, against a daily operating requirement of about 16,000 tonnes.SUN ASIAN 60.0 50.0 20.00TATA SM1BG 10.8 9.0 20.00 The Gharkamgar Molkarni Sanghatna, an association of domestic servants, has objected to a TV ad of Tata DoCoMo, saying it depicted their profession in a bad light.Tonira Pharma 22.5 18.8 20.00 0SHALIMAR PAINTS 484.6 440.6 10.00 Energy major Reliance Industries (RIL) said there was no evidence to suggest that costs in development of the countrys key natural gas field in the Krishna Godavari (KG) basin were overstated.The Comptroller and Auditor General (CAG) has criticised Reliance and the government over development of KG D6 basin and called for revamping profit sharing arrangements from oil and gas blocks.The offshore KG basin was expected to contribute up to one-quarter the gas supply for India, but lower-than-expected outputBSE Lower Circuit Breakers has left the energy-hungry nation more dependent on expensive, imported LNG to fuel 09-Sep 08-Sep % Change power and fertiliser plants.Company NameCHOICE INTERNATIONAL 66.3 82.9 (20.00) Bangalore-based Biocon will set up a bio-pharmaceutical manufacturing and researchSHRI GANESH SPINNERS 24.8 26.1 (5.00) and development facility in Bio-XCell, a custom-built biotechnology park and ecosystemGlobsyn Info 4.8 5.0 (5.00) in Iskandar Malaysia, Johor. The company will invest $161 million (Malaysian Ringgit 500)Interfit Tech 7.0 7.4 (5.00) in the first phase, the largest for the Malaysian healthcare biotechnology sector so far. TheKosha Cubidor 26.7 28.1 (5.00) new facility will become operational by 2014. The project will also focus on research and development and production of other bio-pharmaceutical products at a later phase. Kingfisher Airlines is set to ramp up its international operations, adding flights to Colombo and Male (Maldives) this winter.COMMODITY 09-Sep 08-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 113 115 (2.28)Gold (Rs/10gm) 28,229 27,838 1.40 Brent Crude Oil ended lower at $113 per barrel. Gold ended higher by 1.40 percent at Rs 28,229 and Silver closed down by 0.39 percent at Rs 65,397.Silver (Rs/kg) 65,397 65,650 (0.39)CURRENCY 09-Sep 08-Sep % Change The Indian Rupee closed lower against the dollar at Rs 46.24 as the Indian equityINR / USD 46.57 46.24 0.71 benchmarks ended on a positive note.USD / Euro 1.37 1.40 (2.14)Yen / USD 77.82 77.24 0.75
  3. 3. Sept 12, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSGITANJALI 343.6 348.0 1.30 BNP Paribas (BNP) SA, Societe Generale SA and Credit Agricole SA (ACA), France’sFSL 12.7 12.8 1.19 largest banks by market value, may have their credit ratings cut by Moody’s InvestorsHEXAWARE 76.7 77.4 0.91 Service as soon as this week because of their Greek holding.BOSCHLTD 7192.0 7,257.0 0.90LITL 17.7 17.8 0.85 Egypt’s ruling military council declared a state of emergency to restore order afterINDIAINFO 72.7 73.3 0.83 protesters attacked the Israeli embassy in Cairo. Israel’s Prime Minister BenjaminABAN 401.0 377.8 (5.80) Netanyahu told his nation last night that the incident had damaged “the fabric ofMOSERBAER 23.4 22.6 (3.43) peace” between the two countries while declaring his commitment to the 32-yearBGRENERGY 330.9 320.1 (3.25) alliance.IOC 312.0 302.4 (3.08) Tropical Storm Nate reached the coast of Mexico, about 15 miles northwest ofSCI 87.7 85.6 (2.40) Veracruz, and is forecast to weaken and dissipate by tonight. Nate, with top winds of 60SKUMARSYNF 50.5 49.3 (2.38) miles (95 kilometers) per hour, is moving southwest at 10 mph.INSTITUTIONAL ACTIVITY (Rs Cr) 26-Aug 25-Aug YTD Prime Minister George Papandreou, who vowed to avoid a default and keep Greece inFII Cash Net -96.6 -1494 2,994 the euro, discussed new emergency measures with ministers today, as resistance buildsFII Stock Futures -126.3 382.47 777 to extending more aid to the European Union’s most-indebted nation.FII Index Futures 594.26 -179.53 9,784Mutual Fund -50.7 202.5 5,999 China’s imports climbed to a record and exports grew more than expected last month, indicating resilience in the world’s second-biggest economy as the U.S. andVALUATIONS P/E P/B DIV YLD European recoveries falter.BSE 18.4 3.4 1.5NSE 18.2 3.1 1.4BSE500 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 %Hindustan Unilever 333.6 2.61 GTL 70.2 33.11 PARAB DRUGS 30.4 10.34HEROMOTOCO 2216.0 2.09 GTL Infra 13.8 9.79 Allied Digit 31.9 10.00HDFC 660.0 0.14 Arvind 91.6 7.45 Ruchi Infra 17.9 9.82Bharti Airtel 399.7 0.13 Berger Paints 108.0 5.94 Dion Global Sol 35.4 9.43ONGC 261.3 0.13 JUBILANT 222.0 5.61 Asian Hotels (West) 165.0 9.27TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Hindalco Inds 150.0 -5.63 SREI Infra 38.6 -5.51 Jai Balaji Inds 130.5 -7.61Sterlite Inds 130.7 -5.60 Jindal Saw 123.8 -5.13 MidValley Entertainment 115.1 -6.99Jaiprakash Asso 67.6 -4.72 India Cements 69.9 -4.90 QUADRANT-$ 3.4 -6.91SBI 1947.3 -4.06 Hexaware Tech 77.0 -4.88 Jayaswal Neco 19.6 -6.89RIL 823.8 -3.49 KGN Inds 27.5 -4.85 Bhansali Engr-$ 23.2 -6.84 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEMindTree Limited Coffee Day Resorts Pvt Ltd BUY 5.68% 428.0MindTree Limited Ashok Soota SELL 5.50% 428.0Bharat Forge Ltd Barclays Capital Mauritius Limited SELL 0.55% 307.6Balrampur Chini Mills Balrampur Chini Mills Ltd BUY 0.86% 62.9Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9BSEBedmutha Inds INVENTURE GROWTH & SECURITIES LTD. BUY 1.23% 123.0BGIL Films KAILASH CHANDRA BUY 0.80% 4.7Gemstone Invest SUKRATI CONSULTANCY SERVICES SELL 2.25% 8.9Monnet Ispat BLACKSTONE MANAGEMENT PARTNERS BUY 1.80% 478.1Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1