The Indian stock indices declined slightly on September 21, 2011 due to cautious investor sentiment ahead of an important announcement from the US Federal Open Market Committee. The BSE Sensex fell 0.20% and the NSE Nifty declined 0.14%. US stocks also declined sharply in response to the Fed announcing plans to purchase $400 billion in long-term debt and citing risks to the economic outlook. Most global indices were down as well. Key Indian corporate news included Maruti Suzuki planning a new $1.3 billion plant in Gujarat, and Asian Paints approving a merger scheme involving its joint ventures. Commodity prices were mixed with Brent crude oil up 1.16% and gold rising 0.26

1. Sept 22, 2011
Volume: 1 | Issue: 389| November 1, 2010
INDIAN MARKET 21-Sep 20-Sep % Change COMMENTARY
BSE Sensex 17,065 17,099 (0.20) INDIA
NSE Nifty 5,133 5,140 (0.14) The Indian stock indices could not do an encore to the previous session’s frenzied rally, as investors chose to
BSE Midcap 6,476 6,429 0.73 be cautious ahead of the important announcement from the FOMC in the US later on Wednesday. Global
BSE Smallcap 7,352 7,300 0.71 cues were also mixed as investors remained wary of Greece’s ongoing talks with international lenders on
Nifty Junior 10,311 10,216 0.93 securing approval for a second bailout. The Indian market never looked like getting into an upswing like they
CNX Midcap 7,468 7,392 1.03 did on Tuesday and instead remained more or less lackluster. The NSE Nifty ended almost unchanged at the
end of a choppy trading session. Technically, the neckline of the Inverted Head and Shoulder continues to
act as resistance for Nifty. Finally, the BSE Sensex ended at 17,065, slightly down 34 points. The NSE Nifty
closed at 5,133, down 7 points. The broader markets, however, performed comparatively firm with the BSE
GLOBAL MARKETS 21-Sep 20-Sep % Change mid-cap index having ended at 6,477 and the small-cap index having shut at 7,352, up 0.7% each.
Dow Jones Ind (USA) 11,125 11,409 (2.49) The overall market breadth was positive as 1,611 stocks advanced against 1,226 declining ones out of 2,964
Nasdaq Composite(USA) 2,538 2,590 (2.01) stocks, on the BSE.
S&P 500 (USA) 1,167 1,202 (2.96)
FTSE 100 (UK) 5,288 5,364 (1.40) GLOBAL MARKETS
DAX (Germany) 5,434 5,572 (2.47) U.S. stocks slumped, giving the Standard & Poor’s 500 Index its biggest decline in a month, as the Federal
Nikkei 225 (Tokyo) 8,741 8,722 0.23 Reserve announced plans to buy USD 400bn of long- term debt and cited risks to the economic outlook. The
Hang Seng (Hong Kong) 18,825 19,015 (1.00) S&P 500 fell 2.9 percent to 1,167. The benchmark gauge for American equities has dropped 4.1 percent in
Shanghai Comp (China) 2,513 2,448 2.66 three days. The Dow Jones Industrial Average lost 283 points, or 2.5 percent, to 11,124. Moody’s Investors
Service cut credit ratings on three banks (BoA, Wells Fargo, Citigroup) and the Fed said “strains in global
KOSPI (South Korea) 1,855 1,838 0.91
financial markets” were among risks to the economic outlook. The Fed will replace some shorter-term debt in
STI (Singapore) 2,792 2,781 0.40 its portfolio with longer-term Treasuries.
MSCI Emerging Market 368 367 0.27 Asian stocks and oil slumped, while South Korea’s won slid to a one-year low, after the Federal Reserve
MSCI Frontier Market 492 493 (0.20) flagged “significant downside risks” to the economy and Moody’s Investors Service cut debt ratings on U.S.
banks. Nikkei is down 1.6 percent, Hang Seng is down 3.3 percent, Strait Times is down 1.5 percent. SGX Nifty
is trading at 5066, down 69 points, indicating a gap-down opening.
BOND MARKETS 21-Sep 20-Sep Change
10yr G-Sec Yield 8.32 8.33 (0.01) CORPORATE/ ECONOMY NEWS
1yr G-Sec Yield 8.34 8.34 0.00 Union Coal Minster, Sriprakash Jaiswal on Wednesday disclosed that Coal India Ltd. would shortly
LIBOR (6m) 0.31 0.31 0.00 liquidate 28 Million Tonnes (MT) of coal in remaining part of current fiscal and supply it to various power
LIBOR (1m) 0.21 0.21 0.00 plants and thus bring down the gap between its demand and supply at 114 MT against envisaged
Interbank Call rate 8.29 8.29 0.00 quantity of 142 MT of coal. The Minister, however, clarified that CIL would accomplish the job of 28 MT
of coal liquidation subject to availability of rakes.
Gravita India Ltd has acquired the remaining 20% stake in Metal Inc. and the unit is expected to add as
BSE Turnover Rs Cr('000) Sensex much as Rs400 mn to revenue.
17200 3.0
17100 Maruti Suzuki, India's largest car maker, will invest nearly $1.3 billion (Rs 6,300 cr approx) to set up a
2.5
new plant, likely in Gujarat, its chairman told Reuters on Wednesday.
17000 2.0
16900 Sterlite Technologies Limited “Sterlite” , a leading global provider of transmission solutions for the
1.5
16800 power and telecom industries, announced that it has received a contract from BSNL, for deployment of
16700 1.0 a central office broadband system in telecom circles, pan India. The Company would install and
0.5 commission the system within FY13 and would manage this network for 7 years thereafter.
16600
16500 0.0 Technology products distributor Redington India Ltd has been appointed to distribute Dell Inc laptops
15-Sep 16-Sep 19-Sep 20-Sep 21-Sep across all large format retails (LFR) in the country, a top official told Reuters on Wednesday.
Infrastructure Development Finance Company (IDFC) is planning to raise up to Rs 5,000 crore
through tax-saving bonds in the current fiscal..
NSE Turnover Rs Cr('000) Nifty
5160 16 Billionaire Indian brothers Malvinder and Shivinder Singh's Fortis Healthcare International has pulled
5140 14 out of talks to buy a controlling stake in Turkish hospital group Acibadem.
5120 12
5100 88.38 #DIV/0!10
5080 State-run Power Finance Corp (PFC) has received the RBI's approval to raise $1 billion (Rs 4,600 crore)
5060 8 via offshore medium-term note borrowing, which will mark its debut in the international bond market, a
5040 6 company source with knowledge of the deal told Reuters.
5020 4
5000 Hotel chain operator Royal Orchid Hotels Ltd plans to add a new brand in the Indian mid-market space
4980 2
in the next couple of months to expand its portfolio, a top official said on Wednesday.
4960 0
15-Sep 16-Sep 19-Sep 20-Sep 21-Sep

2. Sept 22, 2011
Volume: 1 | Issue: 389| November 1, 2010
SECTOR 21-Sep 20-Sep % Change CORPORATE NEWS
CD 6,984 6,845 2.04% Franklin Templeton Private Equity Strategy, a private equity portfolio managed by
BANKEX 11,360 11,252 0.96% Franklin Templeton Asset Management (India) Private Limited, ("FT India"), and advised by
REALTY 1,838 1,823 0.83% Darby Asia Investors (India) Limited (“Darby India”) the private equity affiliate within
PSU 7,759 7,721 0.50% Franklin Templeton Investments group has invested Rs. 450mn in Symbiotec Pharmalab
POWER 2,223 2,214 0.43% Limited.
HC 6,014 5,995 0.31%
SpiceJet Limited, India’s most preferred budget airline, commenced commercial
CG 11,826 11,819 0.06%
operations at Vizag with its much-awaited Q-400 aircraft with daily flights to Tirupati and
TECk 3,259 3,262 -0.09% Bangalore. SpiceJet is also increasing its service of the Vizag-Hyderabad route with the
FMCG 3,934 3,940 -0.14% introduction of their 3rd daily flight from the 28th September on the Q-400 aircraft.
IT 5,203 5,216 -0.26%
METAL 12,318 12,350 -0.26% Reliance Retail reportedly expects its sales to enhance 20% this fiscal year at stores open
AUTO 8,899 8,981 -0.91% at least a year on the back of steady consumer spending, ruling out any slowdown due to
OIL&GAS 8,742 8,844 -1.16% high inflation and rising interest rates. According to reports, the company is confident of
achieving 20% same-store sales growth across our formats in the current fiscal, despite
the current market conditions.There had been no impact on spending at its value retail
and electronics segments.
Asian Paints Ltd. said on Wednesday that its Board of Directors has approved the
Composite Scheme for Merger and Demerger, whereby PPG India Pvt. Ltd., PPG Coatings
BSE Upper Circuit Breakers India Pvt. Ltd. (subsidiaries of PPG in India) and AP Coatings Ltd. (wholly owned subsidiary
Company Name 21-Sep 20-Sep % Change of the Company) will merge with Asian PPG Industries Ltd. (APPG) APPG is a 50:50 joint
ZANDUREALTY 2,071 1,726 20.00 venture between Asian Paints and PPG Industries Inc., USA. The Scheme then provides for
Marathon Next 215.5 179.6 20.00 the demerger of the Liquid Industrial Paints, Powder Coatings and Protective Coatings
Investment & Prec 76.0 63.4 20.00 businesses from APPG into the second Joint Venture Company.
Modern Dairies 16.8 15.3 10.00 0
Non-availability of gas and land acquisition issues may force state-owned power utility
T&I Global 18.8 17.1 10.00 NTPC to scale down its capacity addition target of 75,000 MW for the 12th Five-Year Plan
to 66,000 MW.
After roping in Nippon Life in the life insurance business, Reliance Capital is now looking
to sell 26 per cent stake in Reliance General Insurance Company, its subsidiary. Reliance
Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started
BSE Lower Circuit Breakers the due diligence process and is expected to complete this by the end of this financial
21-Sep 20-Sep % Change year.
Company Name
AVT Nat Products 413 434 (5.00)
IT company HCL Technologies said it has inked a five-year, multi-million dollar deal with
Binayak Tex 565.3 595.1 (5.00) Deutsche Bank's capital markets arm to provide applications support solutions.
Carnation Inds 12.6 13.2 (5.00)
Industrial & Pru 1,376.6 1,449.0 (5.00) Titan Industries, part of the Tata group, is looking to enter Indonesia in six months
Neha Intl 105.8 111.3 (5.00) through a distribution tie-up, Bhaskar Bhat, managing director, said on the sidelines of the
India Retail Forum on Wednesday.
GMR Infrastructure, the Bangalore-based infrastructure developer, is setting the stage to
raise private equity in its road business. According to investment bankers, the company
may be looking to raise around Rs 960 crore over a period to infuse equity in various new
projects in this vertical.
The merger of ACC and Ambuja Cements, the companies controlled by Holcim, the
Swiss cement major, has been deferred indefinitely.
COMMODITY 21-Sep 20-Sep % Change COMMODITY / CURRENCY NEWS
Brent Crude Oil (USD/bbl) 111 110 1.16
Gold (Rs/10gm) 28,057 27,984 0.26 Brent Crude Oil ended up at $111 per barrel. Gold ended higher by 0.26 percent at Rs
28,057 and Silver closed up at Rs 64,,970.
Silver (Rs/kg) 64,970 64,522 0.69
CURRENCY 21-Sep 20-Sep % Change The Indian Rupee closed lower against the dollar at Rs 48.32 as the Indian equity
INR / USD 48.32 47.98 0.71 benchmarks ended on a negative note.
USD / Euro 1.36 1.37 (0.73)
Yen / USD 76.37 76.57 (0.26)

3. Sept 22, 2011
Volume: 1 | Issue: 389| November 1, 2010
FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWS
TRIVENI 24.7 24.9 0.81
The Indian economy would grow at a slower pace this year and next compared to the
FSL 12.8 12.9 0.78 projections made in June, the International Monetary Fund (IMF) said on Tuesday. It
AREVAT&D 221.3 223.0 0.75 cited moderation in investments and the deteriorating global macro-economic
SREINFRA 34.7 35.0 0.72 backdrop as the chief reasons for scaling down its India growth forecast.
ADANIENT 619.0 623.4 0.71 India's GDP would expand by 7.5-7.75% in 2011, the IMF said in its latest World
GLAXO 2069.8 2,084.2 0.70 Economic Outlook confirming.
ASHOKLEY 26.6 26.1 (1.88)
KSOILS 11.1 11.0 (0.90) Advance tax payments from top 100 Indian companies grew by 9.9% to Rs. 317.07bn in
JINDALSAW 131.2 130.1 (0.88) the July-September quarter from the year ago period, a Finance Ministry official was
MOSERBAER 23.2 23.0 (0.86) quoted as saying on Wednesday.Advance taxes paid by the nation’s top 100 companies
in the first two quarter of FY12 rose by 12%, according to the Finance Ministry. Total
BHUSANSTL 343.5 340.8 (0.79)
advance tax figures for the April-September period now stand at Rs. 930bn, up 9.4%
UNIONBANK 242.2 240.6 (0.68) over the year ago period. The Government hopes to meet the FY12 direct tax target of
Rs. 5.33 trillion, a spokesman for the Central Board of Direct Taxes told reporters in New
INSTITUTIONAL ACTIVITY (Rs Cr) 13-Sep 12-Sep YTD Delhi today. India’s direct tax collections were up 6.6% to Rs. 1.8 trillion as of Sept.
FII Cash Net -369 -779.2 5,150 15, he said.
FII Stock Futures 289.3 -83.85 4,287
FII Index Futures 132.61 -1075.25 8,873 SABMiller plc announces that it has agreed with Foster's Group Limited a recommended
Mutual Fund -62 -93.9 5,367 cash offer to Foster's shareholders at A$5.10 per share, which values Foster's equity at
approximately A$9.9 billion.
VALUATIONS P/E P/B DIV YLD
BSE 18.4 3.4 1.5
NSE 18.2 3.1 1.4
BSE500 Mcap/GDP Ratio 0.59
MOVERS & SHAKERS
4.91
TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS
Name Rs % Name Rs % Name Rs %
ICICI Bank 901.5 2.15 Prism Cement 47.2 12.78 Marathon Next 215.5 19.99
Jaiprakash Asso 74.0 2.14 Strides Arco 339.3 11.98 Inox Leisure 55.1 16.38
Coal India 384.2 1.57 Glodyne Tech 374.9 11.58 Gravita India 421.1 15.50
Wipro 355.5 1.30 Bajaj Hind 43.3 9.02 NOCIL 18.1 14.24
SBI 2006.8 0.89 JSL 110.3 7.61 NDTV 56.7 13.64
TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS
Name Rs % Name Rs % Name Rs %
HEROMOTOCO 2138.3 -3.06 Responsive Inds 107.0 -5.10 KS Oils-$ 11.1 -10.52
Hindalco Inds 146.0 -2.80 Himadri Chem 49.3 -3.24 NOUVEAU 6.9 -9.54
Maruti Suzuki 1124.1 -2.65 Rajesh Exports 134.3 -3.17 Bhagwati Banq 81.1 -7.95
RIL 838.1 -1.57 India Infoline 75.2 -3.16 Mangalore Chem 33.7 -5.20
Bajaj Auto 1603.2 -1.49 A2Z Maint & Engg 232.9 -2.76 Clarus Finance 129.4 -4.99
BULK DEALS
SCRIP NAME CLIENT NAME TYPE QTY % PRICE
NSE
Everonn Education Limited JMP SECURITIES PVT LTD BUY 2.30% 329.5
K S Oils Limited VASANTI SHARE BROKERS LIMITED BUY 1.05% 12.3
UFLEX Limited WISDOMTREE TRUST BUY 2.55% 170.9
Novopan Industries INDIRA KRISHNA REDDY SELL 0.86% 43.9
Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9
BSE
Arora Fibres GREENFIELD DEVELOPERS BUY 1.56% 27.5
BGIL Films S. K. INVESTMENTS BUY 1.89% 6.3
Gemstone Invest JINAL APURVA RAWAL SELL 2.25% 8.9
SV Electricals PARIND SUSHIL PAREKH SELL 1.80% 11.2
Sanraa Media JMP SECURITIES PVT LTD BUY 2.30% 0.1