Daily Newsletter - Sep 21, 2011

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Daily Newsletter - Sep 21, 2011

  1. 1. Sept 21, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 20-Sep 19-Sep % Change COMMENTARYBSE Sensex 17,099 16,745 2.11 INDIANSE Nifty 5,140 5,032 2.15 After two days of declines, bulls were back with a bang as the NSE Nifty surged over 100 points while the BSEBSE Midcap 6,429 6,372 0.90 Sensex shot up by more than 300 points on Tuesday. The key indices flourished despite weak cues from theBSE Smallcap 7,300 7,212 1.23 US and select Asian markets as sentiment got a boost, after European markets rebounded from a soft start.Nifty Junior 10,216 10,113 1.02 Technically, the Nifty has reached a crucial juncture. On the daily charts, it has closed at 5140, whichCNX Midcap 7,392 7,332 0.81 corresponds to the neckline of an inverted head and shoulder pattern. So, the following sessions would decide whether the Nifty breaks out of the current H&S pattern or finds resistance at its neckline. There was no looking back for markets on Tuesday as IT stocks rallied on the back of the rupee touching a two-year low. The market advance also received a boost as index heavyweights like RIL, SBI and ICICI Bank joined the party.GLOBAL MARKETS 20-Sep 19-Sep % Change ONGC was the only laggard in the Sensex, amid news that the Government was contemplating increasing itsDow Jones Ind (USA) 11,409 11,401 0.07 subsidy burden. BHEL was also in the red while all ADAG stocks were up smartly. Cairn India and privateNasdaq Composite(USA) 2,590 2,613 (0.86) banking shares were the other notable gainers. Finally, the BSE Sensex ended at 17,099, surging 354 points.S&P 500 (USA) 1,202 1,204 (0.14) The NSE Nifty closed at 5,140, up 108 points.FTSE 100 (UK) 5,364 5,260 1.98 BSE market breadth was positive. Out of 2,916 stocks traded, 1,832 stocks advanced while 952 stocksDAX (Germany) 5,572 5,416 2.88 declined.Nikkei 225 (Tokyo) 8,722 8,864 (1.61)Hang Seng (Hong Kong) 19,015 18,918 0.51 GLOBAL MARKETSShanghai Comp (China) 2,448 2,437 0.42 U.S. stocks fell, erasing a 1.4 percent rally by the Standard & Poor’s 500 Index, amid concern international officials won’t make a decision on Greece’s next aid payment until October. The yield gap between two- andKOSPI (South Korea) 1,838 1,821 0.94 30- year Treasuries narrowed to the smallest level in a year (304 bps); amid speculation the Federal ReserveSTI (Singapore) 2,781 2,758 0.84 will increase holdings of longer maturities. S&P 500 lost 0.2 percent to 1,202. DJIA ended flat at 11,409 whileMSCI Emerging Market 367 378 (2.91) Nasdaq closed at 2,590, down 0.86 percent.MSCI Frontier Market 493 499 (1.20) Asia is witnessing a dip in trade after the International Monetary Fund cut its global-growth forecast. Nikkei is trading flat, Hang Seng is down 1.3 percent, Shanghai is down 0.22 percent, Strait Times is down 0.4 percent while Kospi is up 0.17 percent.BOND MARKETS 20-Sep 19-Sep Change10yr G-Sec Yield 8.33 8.32 0.01 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.36 (0.02) IDEA Cellular, the 3rd largest mobile operator in India, has rapidly expanded its 3G network to coverLIBOR (6m) 0.31 0.31 0.00 236 towns across 23 districts in Gujarat and 3 Union Territories, making it the widest spread 3G networkLIBOR (1m) 0.21 0.21 0.00 in the state.Interbank Call rate 8.3 8.3 0.00 Motherson Sumi Systems Ltd has hired ICICI Bank Ltd. to arrange a 370 mn euro loan to help fund its acquisition of an 80% stake in Germany’s Peguform Group, according to a report. The report stated that the facility will consist of four parts with varying maturities and will be marketed to other banks later BSE Turnover Rs Cr(000) Sensex this month. Motherson Sumi agreed to buy a stake in Peguform in July from Cross Industries AG, which 17200 3.0 will continue to hold a 20% share. 17100 2.5 TCS has announced the launch of new Trading & Surveillance Platform to address entire value chain for 17000 2.0 Market Infrastructure. 16900 1.5 16800 GVK Power & Infrastructure Ltd has reportedly said that it expects to hire banks to help organize a $1 16700 1.0 bn loan as early as next week. The company agreed to pay $1.26 bn earlier this month to acquire coal 0.5 projects from Australia’s Hancock Prospecting Pty and will invest at least $6.5 bn over the next eight 16600 years to develop the mines, says report. Earlier GVK said that it agreed to pay $500 mn now followed by 16500 0.0 $200 million one year from the deal closing, and $560 million more on the ‘financial close’ of the 14-Sep 15-Sep 16-Sep 19-Sep 20-Sep project, expected to be in 2012. Pharma major, Lupin Ltd., announced that its subsidiary, Lupin Pharmaceuticals Inc. (LPI) has been granted final approval by the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug NSE Turnover Rs Cr(000) Nifty Application (ANDA) to market a generic version of Watson’s NOR-QD tablets. Lupin will commence 5150 16 shipping its norethindrone tablets, USP 0.35 mg shortly. 14 5100 12 BHEL reportedly said that it would ramp up its manufacturing capacity to 20,000 MW by March, 2012. 88.38 #DIV/0!10 According to reports, BHEL’s capacity addition strategy for the current financial year also envisages an 5050 8 improvement in product cost-competitiveness and quality and is well on track to becoming a 20,000- 5000 6 MW company by March, 2012. The company also plans to diversify into the emerging business areas like 4 R&D and people management. 4950 2 The Central Bureau of Investigation (CBI) is considering filing a case or multiple cases against Reliance 4900 0 Industries over its operations of its gas block in the Krishna Godavari (KG) basin, a newspaper reported 14-Sep 15-Sep 16-Sep 19-Sep 20-Sep on Tuesday.The CBI is likely to name officials in the countrys upstream regulator and the petroleum ministry in the case, the newspaper said, citing officials at the CBI who declined to be named.
  2. 2. Sept 21, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 20-Sep 19-Sep % Change CORPORATE NEWSIT 5,216 5,053 3.23% MindTree Limited, a global IT solutions and Product Engineering Services CompanyTECk 3,262 3,173 2.79% announced that it has attained Continua Health Alliance’s certification for its EtherMindCD 6,845 6,662 2.74% IEEE-11073 Stack (Certification IDs 38 and 39) for connected health applications. TheBANKEX 11,252 10,998 2.31% Continua-certified EtherMind IEEE-11073 stack is now available for licensing, enabling aMETAL 12,350 12,111 1.97% quick and low-cost path for medical tablet and sensor device OEMs to build standards- 1.94% based, and interoperable health systems over Personal Area Networks (PAN) or Local AreaOIL&GAS 8,844 8,676 Networks (LAN).REALTY 1,823 1,791 1.79%AUTO 8,981 8,863 1.33% National Thermal Power Corporation ( NTPC ) is planning to exit from its coal specialHC 5,995 5,930 1.10% purpose vehicle (SPV) International Coal Ventures Private Limited (ICVL),according to aFMCG 3,940 3,897 1.09% report. The report stated that International Coal Ventures Ltd (ICVL) is a joint venturePOWER 2,214 2,191 1.02% between SAIL, CIL, RINL, NMDC and NTPC that was conceptualised by the Steel MinistryPSU 7,721 7,681 0.52% for securing much-needed coking coal and thermal coal assets in overseas territories. TheCG 11,819 11,786 0.28% Power Ministry will take a call on the matter in a weeks time and Cabinet approval for NTPCs exit will be sought, says report. There are reports that the key objective with which ICVL was set up was to secure at least 10 per cent of the coal requirements of SAIL and RINL, that is five million tonnes per annum, by acquiring or picking up a stake in overseas mining properties.. IT firm HCL Technologies said it would establish a software delivery centre inBSE Upper Circuit Breakers Dublin, Ireland, that will create 80 jobs for IT graduates over three years.Company Name 20-Sep 19-Sep % ChangeKALE CONSULTANTS 86 72 20.00 Subex Ltd, a leading global provider of business support systems for communicationsPanyam Cements 61.6 56.0 10.00 service providers, yesterday announced the signing of an Asset Purchase Agreement withSuryachakra Pow 12.1 11.0 10.00 NetCracker for sale of its activation business.Scooters India 41.0 39.0 5.00 0 State-owned Hindustan Coppers CMD Shakeel Ahmed yesterday ruled out the companyTulip Star Hot-$ 200.6 191.0 5.00 selling fresh equity through the proposed follow-on public offer (FPO) to raise funds. Coal India (CIL) Chairman NC Jha said production in August and September was hit by rain, but expressed hope that the projected target of 452 million tonne for the entire fiscal will be met.BSE Lower Circuit Breakers French power equipment maker Alstom Grids arm Areva T&D said it had bagged a RsCompany Name 20-Sep 19-Sep % Change 220 crore order from Sterlite Technologies for the construction of substations in Bhopal and Dhule in Maharashtra.Choice Intl 58 61 (5.00)Arvind Intl-$ 20.0 21.0 (5.00) Larsen & Toubro is set to partner government-owned Hindustan Shipyard forCrazy Infotech 0.4 0.4 (5.00) shipbuilding, as the defence ministry has recommended the company as the preferredNexxoft Info 15.8 16.6 (5.00) partner.Almondz Glob 22.9 24.1 (5.00) Infrastructure and finance company IL&FS said it had exited from joint venture ORIX Auto Infrastructure Services (OAISL) by selling its 50% stake to partner ORIX Corporation for undisclosed amount. Varkey group buys 12%, to launch open offer for more. The $2.5 billion Dubai-based Varkey group company, Gems Education, will buy 2.62 million shares or 12 per cent equity share in education company Everonn Education for around Rs 138 crore. It has agreed to pay Rs 528 per share — a 43.8 per cent premium to Everonn’s closing price of Rs 367.15 per share.COMMODITY 20-Sep 19-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 110 110 0.15Gold (Rs/10gm) 27,984 28,109 (0.44) Brent Crude Oil ended flat at $110 per barrel. Gold ended lower by 0.44 percent at Rs 27,984 and Silver closed flat at Rs 64,522.Silver (Rs/kg) 64,522 64,553 (0.05)CURRENCY 20-Sep 19-Sep % Change The Indian Rupee closed higher against the dollar at Rs 47.98 as the Indian equityINR / USD 47.98 47.77 0.44 benchmarks ended on a positive note.USD / Euro 1.37 1.36 0.74Yen / USD 76.57 76.68 (0.14)
  3. 3. Sept 21, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSGMRINFRA 29.8 30.2 1.34 Greece on Tuesday reportedly paid two bond coupons totaling €769mn (US$1.04bn)GLAXO 2056.0 2,077.5 1.05 that were due yesterday. Greece paid a €364mn coupon on a 4.6% 2040 bond andTRIVENI 23.8 24.0 1.05 another €405mn on a 4.5% 2037 bond, according to reports. Greece will hold anotherMRF 7060.0 7,130.0 0.99 conference call tonight with the EU and the IMF officials after a productive round ofNCC 68.5 69.1 0.95 talks aimed at staving off eurozones first default.UCOBANK 70.4 71.1 0.92ASHOKLEY 26.3 25.8 (1.90) NASA has plans to spend a whopping $1.6 billion over the next two years in a bid toOPTOCIRCUI 235.8 232.3 (1.51) bolster industry efforts to develop "space taxis", a media report said.UNIONBANK 244.0 241.5 (1.05)NATIONALUM 65.0 64.5 (0.69) Suggesting further monetary tightening measures to control inflation, the International Monetary Fund (IMF) has scaled down India’s economic growth to 7.8 per cent thisDJIA 11355.0 11,277.5 (0.68) year, against the earlier estimates of 8.2 per cent. The revision is attributed by the IMFJSWISPAT 15.5 15.4 (0.65) partly to slower economic expansion in world output and to recent corporate governance issues. Similarly, growth projections for India has been revised downwardsINSTITUTIONAL ACTIVITY (Rs Cr) 12-Sep 9-Sep YTD to 7.5 per cent in 2012, against the earlier forecast of 7.8 per cent.FII Cash Net -779.2 -219.7 5,521FII Stock Futures -83.85 146.78 3,998 While India Incs quest for foreign acquisitions appears to have slowed in 2011, multi-FII Index Futures -1075.25 -716.45 8,741 national corporations have intensified their hunt to buy Indian firms, and this hasMutual Fund -93.9 -28.9 5,429 resulted in inbound merger and acquisition (M&A) deals more than doubling in the first nine months this year. According to Dealogic, 281 inbound M&A deals, aggregatingVALUATIONS P/E P/B DIV YLD $27.5 billion, were announced in the January-September period, compared with 220 inbound deals, with a combined value of $13.4 billion.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 %Hindalco Inds 150.2 4.31 Rajesh Exports 138.7 12.58 Bhagwati Banq 88.1 18.26TCS 1057.9 3.94 Shree Global Trd 364.3 9.07 Geometric 46.5 10.60SBI 1989.1 3.78 Religare Enter 441.0 6.27 Career Point 295.3 10.39RIL 851.5 3.73 Deccan Chron 59.9 6.02 C. Mahendra Exports 193.6 9.56DLF 212.2 3.46 Sunteck Realty 291.0 5.68 Gujarat Inds 85.4 9.28TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %ONCG 261.7 -2.86 Nava Bharat Vent 193.0 -4.48 Clarus Finance 136.2 -4.99BHEL 1644.0 -0.81 Alfa Laval 2248.5 -4.39 Empower India 3.6 -4.99- - - Bajaj Hind 47.0 -4.28 R.M. Mohite Inds 105.9 -4.98- - - GODREJ PROP 666.8 -3.69 Prabhav Inds 60.4 -4.96- - - NCC 68.9 -3.16 Shri Ganesh Spi 17.4 -4.92 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEEveronn Education Limited JMP SECURITIES PVT LTD BUY 2.30% 329.5K S Oils Limited VASANTI SHARE BROKERS LIMITED BUY 1.05% 12.3UFLEX Limited WISDOMTREE TRUST BUY 2.55% 170.9Novopan Industries INDIRA KRISHNA REDDY SELL 0.86% 43.9Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9BSEArora Fibres GREENFIELD DEVELOPERS BUY 1.56% 27.5BGIL Films S. K. INVESTMENTS BUY 1.89% 6.3Gemstone Invest JINAL APURVA RAWAL SELL 2.25% 8.9SV Electricals PARIND SUSHIL PAREKH SELL 1.80% 11.2Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1

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