Daily Newsletter - Sep 27, 2011


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Daily Newsletter - Sep 27, 2011

  1. 1. Sept 27, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 26-Sep 23-Sep % Change COMMENTARYBSE Sensex 16,051 16,162 (0.69) INDIANSE Nifty 4,835 4,868 (0.67) After a turbulent previous week and an anxious weekend, the Indian equity indices ended in the negativeBSE Midcap 6,131 6,223 (1.47) terrain, starting-off the new week on a sour note. The NSE Nifty extended its losing streak to a third straightBSE Smallcap 6,923 7,041 (1.67) trading session with sustained selling by FIIs, as they continue to be risk averse amid uncertainty over theNifty Junior 9,748 9,896 (1.49) eurozone credit crisis and economic slowdown in the US. The overseas investors have been net sellers for theCNX Midcap 7,071 7,186 (1.59) past several days, selling worth Rs 35bn in the last 3 sessions. Reliance was the biggest dragger among Sensex stocks and along with HDFC Bank and Larsen & Toubro, contributed for a 60 points fall in the Sensex. Metal stocks dropped, mirroring a 3.2% drop in the London Metal Exchange on Friday. IT stocks erased lossesGLOBAL MARKETS 26-Sep 23-Sep % Change and ended up 0.5% at 5,011, as the rupee continued to weaken against the dollar. A recovery in EuropeanDow Jones Ind (USA) 11,044 10,771 2.53 markets, Dow futures and buying in IT stocks helped the Sensex to recover around 250 points from the days low of 15,801. The index finally ended with a loss of 111 points to 16,051. The NSE Nifty closed at 4,835, downNasdaq Composite(USA) 2,517 2,483 1.35 32 points.S&P 500 (USA) 1,163 1,136 2.33 BSE market breadth was negative. Out of 2,861 stocks traded, 1,963 declined while 788 advanced.FTSE 100 (UK) 5,089 5,067 0.45DAX (Germany) 5,346 5,196 2.87 GLOBAL MARKETSNikkei 225 (Tokyo) 8,374 8,560 (2.17) U.S. stocks rallied, rebounding from last week’s slump, as European officials discussed plans to tame theHang Seng (Hong Kong) 17,408 17,669 (1.48) region’s debt crisis. Commodities reversed losses and the Dollar Index declined. The European Central Bank isShanghai Comp (China) 2,394 2,433 (1.63) likely to debate restarting covered-bond purchases and may discuss interest-rate cuts to ease fundingKOSPI (South Korea) 1,652 1,697 (2.66) strains, a euro-region central bank official said. The Standard & Poor’s 500 Index jumped 2.3 percent to closeSTI (Singapore) 2,655 2,699 (1.64) at 1,163. The Dollar Index lost 0.5 percent, while the euro fell against 12 of 16 major peers.MSCI Emerging Market 328 333 (1.50) Asian markets are trading positive as Nikkei is up 1.8 percent, Hang Seng is up 2.4 percent, Strait Times is upMSCI Frontier Market 483 492 (1.83) 1.5 percent and Shanghai is up 0.7 percent. SGX Nifty is trading up 81 points, at 4921 suggesting a positive gap-up opening.BOND MARKETS 26-Sep 23-Sep Change10yr G-Sec Yield 8.29 8.26 0.03 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 JB Chemicals & Pharmaceuticals Ltd. (JBCPL) said on Monday that the Company and Dr. ReddysLIBOR (6m) 0.23 0.21 0.02 Laboratories Ltd. have agreed with immediate effect not to pursue the sale of the companys Russi-CISLIBOR (1m) 0.16 0.16 0.00 prescription products business to the Hyderabad-based company in their overall business interests.Interbank Call rate 8.29 8.26 0.03 Accordingly, the proposed deal has been mutually called off. Polaris Software (POLS.BO), a leading Financial Technology Company, announced the launch of Intellect Customer Business exchange (CBX) 3.0 at Sibps 2011 in Toronto. BSE Turnover Rs Cr(000) Sensex 17200 3.0 Indo Thai Securities Ltd. reportedly plans to increase as much as Rs 336mn ($6.77mn) selling shares in 17000 2.9 an Initial Public Offer (IPO). According to reports, the company aims to sell 4mn shares at Rs 70 to Rs 84 16800 each from Sept. 30 to Oct. 5. Corporate Strategic Allianz Pvt. will manage the sale. 16600 2.8 16400 2.7 State-run Hindustan Prefab said it would set up six pre-fabricated concrete and steel components 16200 2.6 manufacturing plants across the country in the next five years, with an investment of around Rs 600 16000 2.5 crore. 15800 15600 2.4 Real estate developer Parsvnath Developers said it has received shareholders approval to raise up to 15400 2.3 Rs 2,000 crore through the issue of securities to qualified institutional buyers. 20-Sep 21-Sep 22-Sep 23-Sep 26-Sep Wipro, Indias third-largest software services exporter, is considering selling data centres and other computer hardware assets of its US unit Infocrossing, a financial daily reported on Monday, quoting unnamed officials and bankers familiar with the talks. Wipro has received initial offers from several US NSE Turnover Rs Cr(000) Nifty telecom firms for sale of five data centres that could be worth between $300 million to $400 million. 5200 13 5100 12 JSW Steel has been compelled to scale down steel production to 30% from Saturday after the 12 Honorable Apex Court’s order directing to sell Iron ore produced by NMDC through E-Auction by 5000 88.38 #DIV/0! Monitoring Committee irrespective of Long Term Contracts. The abrupt disruption of supplies to JSW 11 4900 Steel (long term Customer) by NMDC cut the lifeline to run the furnaces in safe condition. 11 4800 10 GMR has agreed to sell a 30% stake in GMR Energy (Singapore) Pte Ltd (GMRE) to PETRONAS 4700 10 International Corporation Ltd (PICL), a wholly-owned subsidiary of PETRONAS, subject to approval of lenders. 4600 9 20-Sep 21-Sep 22-Sep 23-Sep 26-Sep
  2. 2. Sept 27, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 26-Sep 23-Sep % Change CORPORATE NEWSTECk 3,138 3,123 0.50% Gitanjali Group announced Bollywood superstar Shahrukh Khan as its new brandIT 5,006 4,986 0.42% ambassador. This new association highlights the all-encompassing core value of theBANKEX 10,739 10,761 -0.20% Group – Trust Forever – which reflects its 46-year legacy, and the confidence thatHC 5,847 5,872 -0.43% consumers have in the Gitanjali name.REALTY 1,708 1,723 -0.87% -1.09% Archies Ltd has said that the company has bagged four prestigious awards in differentAUTO 8,328 8,420 categories for printing excellence in NAEP 2011 Award Function at Bengaluru. TheFMCG 3,782 3,831 -1.28% Company has managed to maintain the quality of its production by constantly upgradingPOWER 2,109 2,138 -1.37% its printing and ancillary facilities and has purchased various machines from USA, CHINACG 11,009 11,164 -1.39% and locally during the last two years. The Company has added Automatic foil stampingOIL&GAS 8,134 8,263 -1.56% and die cutting machines, Thermographer machines in large and small sizes andPSU 7,353 7,485 -1.77% envelope machines in its Manesar, Haryana facility.METAL 11,183 11,514 -2.87%CD 6,319 6,648 -4.95% TAKE Solutions Ltd., a leader in the Supply Chain Management and Life Sciences domains and LIBA Centre of Excellence in Logistics and SCM organized a Thought Leadership session on “Creating and Managing e-Supply Chains” on Thursday, Sep 22, 2011 at LIBA, Loyola College, Chennai. Mark McGregor, renowned Author & Speaker - Business Process & Enterprise Architecture, Birmingham, United Kingdom was the chief guest and speaker of the session.BSE Upper Circuit Breakers Infotech Enterprises, a leading engineering solutions provider announced itsCompany Name 26-Sep 23-Sep % Change partnership with Software Engineering Institute (SEI), a US federal government fundedBloom Dekor 16 15 5.00 research and development center headquartered in the renowned Carnegie MellonBRAHMANAND 5.0 4.8 5.00 University in the US.CIL Securities 15.8 15.0 5.00 A fire broke out reportedly at one of Orchid Chemicals and Pharmaceuticals plants atCubical Fin 24.2 23.0 5.00 0 Sholinganallur, near Chennai. According to reports, short circuit is suspected to be theGujarat PolyAVX 4.2 4.0 5.00 cause of the fire. The fire broke out at four of the labs. There was damage to office and laboratory equipment, furniture and building interiors. However, there were no injuries to anyone. Supreme Infrastructure India Limited, one of the most diversified infrastructure companies in India under its SPV – Supreme Kopargaon Ahmednagar Tollways PrivateBSE Lower Circuit Breakers Limited has commenced the Toll Plaza at Nagar Kopargaon Road at Dehri 26-Sep 23-Sep % Change Village, Maharashtra. This is the first Toll Plaza started by the company.Company NameDamodar Thrd 39.00 41 (5.00) Varkey Group Ltd. along with Sunny Varkey and Sherly Varkey being Persons Acting inEXEDY IND 211.4 222.5 (5.00) Concert (PAC) has announced an Open Offer to the remaining shareholders of EveronnIntegra Engg 14.1 14.8 (5.00) Education Ltd. (other than the parties to the MoU).Punjab Wool 7.2 7.6 (5.00)Vertex Sec 204.7 215.4 (5.00) The ministry of defence (MoD) on Monday sent a clear signal that private Indian defence shipyards are to be treated as serious partners in building warships for the Indian Navy. Responding to written complaints from three private shipbuilders about the allegedly improper selection by government-owned Mazagon Dock Ltd (MDL), Mumbai, of Gujarat- based Pipavav Shipyard as its joint venture (JV) partner, the defence minister has struck down MDL’s decision. DB Realty, the Mumbai-based property developer, is in talks with major real estate companies for joint developments in two of its prime properties in the city which are valued around Rs 3,000 croreCOMMODITY 26-Sep 23-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 104 104 (0.34)Gold (Rs/10gm) 25,671 26,549 (3.31) Brent Crude Oil ended down at $104 per barrel. Gold ended lower by 3.31 percent at Rs 25,671 and Silver closed down by 2.58% at Rs 51,485.Silver (Rs/kg) 51,485 52,850 (2.58)CURRENCY 26-Sep 23-Sep % Change The Indian Rupee closed lower against the dollar at Rs 49.44 as the Indian equityINR / USD 49.44 49.42 0.04 benchmarks ended on a negative note.USD / Euro 1.34 1.34 -Yen / USD 76.37 76.32 0.07
  3. 3. Sept 27, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSRUCHISOYA 115.1 121.5 5.56 General Electric Co. reportedly plans to invest $200mn in a manufacturing plant in PuneJINDALSAW 125.5 127.9 1.95 near Mumbai. According to reports, the size of the facility will be about 450,000 squareGRASIM 2262.0 2,290.0 1.24 feet and will more than double to a million square feet.ASIANPAINT 3081.0 3,110.0 0.94JETAIRWAYS 260.5 262.9 0.92 Goldman Sachs to reportedly invest up to Rs 10bn ($202 mn) in an Indian renewableBHARATFORG 272.6 275.0 0.90 energy start-up, as the U.S. investment bank bets big on the sector in the worldsDLF 204.7 199.1 (2.76) second-fastest growing major economy.MOSERBAER 21.4 20.9 (2.57)PUNJLLOYD 52.9 52.1 (1.61) Government has prepared a contingency plan for additional production of pulses inCUMMINSIND 412.0 405.5 (1.58) Rabi 2011-12 through area expansion and productivity enhancement. Pulses covered under the scheme are pigeon pea, gram, pea and lentil. It is targeted to achieve anONMOBILE 61.3 60.4 (1.47) additional production of Rs. 2.78 MT during the ensuing Rabi season and offset the lossHAVELLS 359.5 355.0 (1.25) of Kharif season. Additional allocation of Rs. 80 crore has been made for this purpose under NFSM- Pulses programme.INSTITUTIONAL ACTIVITY (Rs Cr) 16-Sep 15-Sep YTDFII Cash Net 395 167 5,702 Defence Ministry has decided to put on hold a joint venture between the state-runFII Stock Futures 265 401 5,368 Mazagon Dock and private sector shipbuilder Pipavav Defence and Offshore, saying itFII Index Futures 88.19 254.26 13,948 would wait till a policy on JVs is put in place by the government. Earlier thisMutual Fund 150 107 5,467 month, Pipavav Defence said it had formed an equal JV with Mazagon Dock to build submarines and warships, making the private firm eligible to execute part of MazagonsVALUATIONS P/E P/B DIV YLD orderbook of $21.2 billion.BSE 17.7 3.2 1.6NSE 17.6 3.1 1.6BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs %Jaiprakash Asso 69.1 2.37 HATHWAY CAB 89.5 8.42 Entegra 21.2 14.95Bharti Airtel 380.4 1.48 Kirloskar Oil Engines 145.4 7.70 DEN NETWORK 61.9 12.25ICICI Bank 856.45 1.4 KGN Inds 25.9 4.87 Jayaswal Neco 20.6 11.68DLF 200.4 1.21 ABG Shipyard 396.3 4.32 MSP Steel 48.0 10.87Cipla 286.6 0.97 Himadri Chem 49.2 4.24 Hinduja Found 72.3 7.67TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Coal India 346.2 -5.46 Shree Global Trd 348.6 -9.99 Marathon Next 251.8 -9.99Sterlite Inds 117.3 -4.40 Hindustan Oil 107.2 -8.42 NOUVEAU 7.1 -9.99Hindalco Inds 129.1 -3.80 NCC 61.1 -7.22 Lloyds Metals 26.1 -8.26HEROMOTOCO 1979.8 -2.84 CHOLAFIN 150.4 -5.88 Minda Inds 170.1 -8.13Jindal Steel 510.2 -2.61 Jain Irrigation 143.3 -5.88 Arshiya Intl 131.2 -7.87 BULK DEALSSCRIP NAME CLIENT NAME TYPE QTY % PRICENSEGitanjali Gems Limited JAIWANTI MERCANTILES PRIVATE LIMITED BUY 1.53% 346.3Hexaware Technologies Lim ELDER VENTURE LLP BUY 2.53% 74.7Rushil Decor Limited PRAKASHBHAI ISHWARBHAI RANA BUY 1.27% 185.0Gravita India Limited CROSSEAS CAPITAL SERVICES PVT SELL 0.63% 442.7Savera Industries Ltd MANOJ KUMAR GOEL BUY 1.23% 40.5BSEBeryl Drugs GLOBALWORTH SECURITIES LIMITED BUY 0.80% 12.8Bloom Dekor-$ 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