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Daily Newsletter - Sep 16, 2011


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Daily Newsletter - Sep 16, 2011

  1. 1. Sept 16, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 15-Sep 14-Sep % Change COMMENTARYBSE Sensex 16,877 16,710 1.00 INDIANSE Nifty 5,076 5,013 1.26 The Indian markets ended with smart gains for the second straight trading session on Wednesday with theBSE Midcap 6,367 6,332 0.55 NSE Nifty shutting above the 5050 levels while the BSE Sensex ended above 16,800 levels. Overnight gains inBSE Smallcap 7,214 7,195 0.26 the US markets coupled with positive trend across Asian markets lifted the Indian benchmarks. SentimentNifty Junior 10,147 9,995 1.52 got a boost after government data showed a drop in food inflation in the early days of September. AnnualCNX Midcap 7,340 7,263 1.07 inflation in the Food Articles group fell to 9.47% in the week ended September 3, from 9.55% in the previous week. It was at 15.16% in the corresponding period last year. Finally, the BSE Sensex ended at 16,877, adding 167 points. The NSE Nifty closed at 5,076, up 63 points. The market up-move was led by interest rate sensitive stocks such as Realty, Banking and Auto. IT and Telecom indices were among the other notable gainers. TheGLOBAL MARKETS 15-Sep 14-Sep % Change BSE Mid-Cap and the BSE Small-Cap indices also advanced. On the other hand, the BSE Capital Goods andDow Jones Ind (USA) 11,433 11,247 1.66 BSE FMCG indices ended in the red.Nasdaq Composite(USA) 2,607 2,573 1.34 Market breadth was positive, 1,546 stocks are advanced for 1,235 stocks which declined.S&P 500 (USA) 1,209 1,189 1.72FTSE 100 (UK) 5,338 5,227 2.11 GLOBAL MARKETSDAX (Germany) 5,508 5,340 3.15 U.S. stocks rose for a fourth day as the European Central Bank and international policy makers coordinated toNikkei 225 (Tokyo) 8,669 8,519 1.76 lend dollars to banks to tame the credit crisis, offsetting concern spurred by signs unemployment isHang Seng (Hong Kong) 19,182 19,046 0.71 worsening. The Standard & Poor’s 500 Index advanced 1.7 percent to 1,209. The benchmark gauge has ralliedShanghai Comp (China) 2,479 2,485 (0.22) 4.8 percent in four days. The Dow Jones Industrial Average added 186 points, or 1.66 percent, to 11,433.KOSPI (South Korea) 1,775 1,749 1.47 Asian stocks are trading higher on back of strong rally in the US and UK markets on Thursday. Nikkei is up bySTI (Singapore) 2,765 2,740 0.94 1.70%, Hang Seng is up by 2%. SGX Nifty is up 32 points trading at 5,129 which suggest a positive openingMSCI Emerging Market 369 373 (1.07) for our markets too, but for the day RBI policy will determine the continuity of the pullback in markets evenMSCI Frontier Market 498 495 0.61 as consensus has built around a 25 bps hike.BOND MARKETS 15-Sep 14-Sep Change10yr G-Sec Yield 8.32 8.29 0.03 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 Food inflation declined marginally but was still high at 9.47% for the week ended SeptemberLIBOR (6m) 0.50 0.39 0.11 3, with prices of all items, barring pulses and wheat, rising on an annual basis. Food inflation, as measuredLIBOR (1m) 0.23 0.16 0.07 on the basis of the Wholesale Price Index (WPI), stood at 9.55% in the previous week. The rate of price riseInterbank Call rate 8.1 8.0 0.07 of food items was 15.16% in the corresponding week of 2010. Petrol prices hiked by Rs3.14/litre effective from midnight. Oil retailers were losing Rs 2.61 per litre or Rs 150mn per day on sale of petrol prior to todays hike. IOC, BPCL and HPCL have already lost Rs 24.5bn BSE Turnover Rs Cr(000) Sensex this fiscal year (FY12) on the sale of petrol despite the Government removing state controls on the fuel in 17000 3.5 June last year. Besides petrol, the three public sector oil marketing companies (OMCs) are losing Rs 16900 3.0 2.63bn a day on selling Diesel, domestic LPG and Kerosene below cost. The under-recovery on Diesel is 16800 ~Rs 6 a litre, while on Kerosene it is at ~Rs 23 per litre and on domestic LPG ~Rs 267 per 14.2-kg cylinder. 2.5 16700 2.0 State-owned Indian Oil Corporation (IOC) is mulling investing $1.87 billion to raise capacity at its Koyali 16600 1.5 refinery in Gujarat to 18 million tonne. 16500 16400 1.0 Indias second-largest software services exporter, Infosys, sees the grim economic situation in Europe as 16300 0.5 its biggest concern and is diversifying actively into fast-growing markets such as China, a top executive 16200 0.0 said on Thursday. 9-Sep 12-Sep 13-Sep 14-Sep 15-Sep Jyoti Structures said on Thursday it acquired a 50% stake in Lauren Engineers and Constructors India, a unit of engineering, procurement and construction firm Lauren Engineers and Constructors. Details, including the financial terms of the acquisition, were not disclosed. NSE Turnover Rs Cr(000) Nifty 5100 14 Wind turbine maker Suzlon could begin exporting Chinese-assembled turbines to third countries as early 12 as next year, the chairman of the company said on Thursday. 5050 10 88.38 #DIV/0! Mahindra & Mahindra, the countrys largest utility vehicles maker, said on Thursday its board has 5000 8 approved divestment of up to 8.09% stake held in unit Mahindra Holidays & Resorts India. The 4950 6 divestment would be in one or more tranches by June 2013, it said in a statement. At present, Mahindra & 4 Mahindra holds 83.09% stake in Mahindra Holidays. 4900 2 Navneet Publications said it has forayed into school management services by investing Rs 45 crore in 4850 0 Sequoia Capital-backed K-12 Techno Services Pvt Ltd. K-12 is a Hyderabad-based school management 9-Sep 12-Sep 13-Sep 14-Sep 15-Sep company serving around 67 state board schools in Andra Pradesh. K-12 also manages 8 junior colleges and an international school.
  2. 2. Sept 16, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 15-Sep 14-Sep % Change CORPORATE NEWSREALTY 1,779 1,723 3.25% Alstom Projects India Limited has announced that the board of directors ("Board") ofIT 5,146 5,040 2.10% ALSTOM Projects India Limited (the "Company") in its meeting held on SeptemberTECk 3,217 3,158 1.89% 15, 2011, has given its final approval to the amalgamation of ALSTOM Holdings (India)BANKEX 11,062 10,865 1.82% Limited ("AHIL") (a group company) with the Company, subject to requisiteAUTO 8,734 8,592 1.65% consents, approvals, sanctions, permissions and filings with concerned authorities.CD 6,570 6,475 1.46% Maruti Suzuki India’s plants in Gurgaon and Manesar will not operate on Friday, as strikeOIL&GAS 8,730 8,631 1.15% at two of its vendors has resulted in shortage of critical components. Following the strikePSU 7,635 7,572 0.84% at its vendors, Suzuki Powertrain India and Suzuki Castings, supply of certain criticalMETAL 12,195 12,137 0.48% components to Maruti Suzuki India’s facilities has been disrupted, the company said in aPOWER 2,183 2,176 0.32% statement. These components include diesel engines and transmissions for certain petrolHC 5,951 5,948 0.04% engine models, Maruti Suzuki said.FMCG 3,982 3,995 -0.32%CG 12,006 12,087 -0.67% Hindustan Unilever Limited’s (HUL) corporate campus in Andheri, Mumbai, has received certification of LEED India Gold in ‘New Construction’ category, by Indian Green Building Council (IGBC), Hyderabad, under license from the United States Green Building Council (USGBC). Zuari Industries said it has shut down complex fertiliser plants at Vasco-da-Gama in Goa as the company does not have raw material to run the facilities.BSE Upper Circuit BreakersCompany Name 15-Sep 14-Sep % Change Siemens is scouting around for potential acquisitions to grow its automotive electronicsGOKALDAS EXPORTS 95 79 20.00 unit, a business it has re-entered after abandoning it four years ago.Everonn Education 302.8 275.3 10.00APLAB 35.9 32.6 10.00 Korean mobile phone major Samsung Electronics said its production capacity in India has been trebled from today, following the commissioning of new facilities at its NoidaSKS Microfinance Ltd 298.2 284.0 5.00 0 manufacturing plant through an investment of approximately Rs 315 crore ($70 million).VMS INDUSTRIES LTD 18.1 17.2 5.00 Tata Steel announced a major five-year improvement programme for its Ijmuiden steelworks plant in the Netherlands, which will entail an investment of 800 million euros, the company said yesterday. Ashok Leyland reportedly launched LCV - DOST - in joint venture with Nissan MotorBSE Lower Circuit Breakers Company priced at Rs 3.79 lakh to Rs 4.37 lakh (ex-Bangalore).Company Name 15-Sep 14-Sep % Change Ahead of the festival season, the government announced a 7% hike in the dearnessEXELON INFRASTRUCTURE 44.7 55.8 (20.00) allowance of its employees which will give them some relief from near double digitNCL Research 182.5 192.1 (5.00) inflation. Besides the five million central government employees, about four millionPolytex India 167.3 176.1 (5.00) pensioners will stand to benefit from the decision, taken by the Union Cabinet.Shree Rama Multi 4.8 5.0 (5.00)SJ Corp 70.4 74.1 (5.00) Allaying fears of any serious slowdown in the growth momentum, advance tax collections from top 100 corporates from the nations financial capital saw 18% jump in the quarter to September. Mukesh Ambani-led Reliance Industries (RIL), which is reported to have paid Rs 2,000 crore for the second quarter, leads the list of advance tax payers. Tata Motors said its global sales stood at 87,459 units in August, up 3% compared to the same month a year ago. Sales of luxury brands from Jaguar Land Rover were up 31% at 21,242 vehicles in August 2011, Tata Motors said in a statement.COMMODITY 15-Sep 14-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 115 112 2.82Gold (Rs/10gm) 27,493 28,155 (2.35) Brent Crude Oil ended higher at $115 per barrel. Gold ended lower by 2.35 percent at Rs 27,493 and Silver closed down by 2.31 percent at Rs 63,256.Silver (Rs/kg) 63,256 64,755 (2.31)CURRENCY 15-Sep 14-Sep % Change The Indian Rupee closed higher against the dollar at Rs 47.55 as the Indian equityINR / USD 47.55 47.58 (0.06) benchmarks ended on a positive note.USD / Euro 1.38 1.36 1.47Yen / USD 76.59 76.70 (0.14)
  3. 3. Sept 16, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSJPASSOCIAT 58.5 69.8 19.42 Export of Indian coffee reportedly increased marginally by 2% y-o-y to 23,146 tonnesBGRENERGY 312.9 373.0 19.19 previous month. The country had exported 22,642 tonnes of the brew in August 2010.EDUCOMP 198.2 232.7 17.38RCOM 76.4 85.4 11.85 The Government will raise the limit on external commercial borrowings (ECB) for localRELIANCE 754.0 837.0 11.01 companies under the Automatic Route to US$750mn from US$500mn, R.HINDUNILVR 319.9 351.0 9.72 Gopalan, Secretary in the Department of Economic Affairs, Ministry of Finance, said onBHARTIARTL 406.0 388.8 (4.25) Thursday. The Government left a limit on foreign institutional investment in theBHEL 1766.8 1,713.5 (3.02) nation’s sovereign debt unchanged, Gopalan told reporters in New Delhi yesterday.DJIA 11355.0 11,067.5 (2.53)OPTOCIRCUI 239.0 234.0 (2.09) The government has directed Coal India (CIL) to rejig the sources of coal it supplies to state-run utilities for power generation by reallocating resources on the basis of theirABGSHIP 380.7 374.0 (1.76) proximity to generation units, thereby bringing down transport costs and easingLT 1616.7 1,592.0 (1.53) pressure on tariffs.INSTITUTIONAL ACTIVITY (Rs Cr) 8-Sep 7-Sep YTD Indias services exports in July were worth $10.40 billion, a fall of 5.8% compared toFII Cash Net 29.3 374.2 6,520 June. The countrys total receipts from services exported were $11.04 billion inFII Stock Futures 603.75 458 3,934 June, 2011, according to data released by the Reserve Bank yesterday. Imports ofFII Index Futures -23.08 281.8 10,532 services also fell 18.2% in July to $5.89 billion, compared to $7.20 billion in June.Mutual Fund -62.2 39.1 5,552 Overall, the services sector contributes over 50% to Indias GDP. During the April-July period this fiscal, the countrys cumulative exports of services amounted to $44.74VALUATIONS P/E P/B DIV YLD billion. Imports of services, meanwhile, stood at $27.07 billion during the first four months of fy12.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 %Tata Motors 151.1 6.04 Jai Corp 96.3 15.54 Gokaldas Expo 94.6 19.97DLF 208.1 4.02 BGR Energy 367.7 14.19 Arss Infra Proj 370.8 10.77SBI 1898.2 3.64 TVS Motor 64.9 8.90 EVERONN 302.8 9.99HDFC 661.7 2.61 Shree Global Trd 325.5 7.44 GNRL 94.0 9.95Sterlite Inds 129.8 2.33 D B REALTY 59.3 5.80 Shrenuj 59.6 8.36TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %L&T 1590.1 -1.21 Marico 143.1 -10.12 Western India Ship 8.0 -8.79BHEL 1710.3 -1.00 TTK Prestige 2785.4 -6.49 Modern India 36.3 -7.40Hindustan Unilever 349.3 -0.94 IPCA Lab 280.4 -6.35 RSWM 94.9 -6.55Maruti Suzuki 1083.0 -0.94 SREI Infra 37.1 -5.24 Shree Nath Comm 14.0 -6.40Tata Steel 465.8 -0.79 KGN Inds 22.9 -4.79 Kirloskar Bros Inv 630.0 -5.97 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