Daily Newsletter - Sep 28, 2011


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Daily Newsletter - Sep 28, 2011

  1. 1. Sept 28, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 27-Sep 26-Sep % Change COMMENTARYBSE Sensex 16,524 16,051 2.95 INDIANSE Nifty 4,972 4,835 2.82 Markets advanced 3%, snapping four sessions of losses as risk appetite returned on expectations thatBSE Midcap 6,230 6,131 1.60 European officials will be able to contain the euro-zone debt crisis. The Sensex commenced the day on anBSE Smallcap 7,017 6,923 1.36 upbeat note after a rally in Asian markets on expectations that European officials would expand theNifty Junior 9,935 9,748 1.92 European Financial Stability Facility to bail out debt ridden countries in the Euro-zone. Bourses in Europe alsoCNX Midcap 7,170 7,071 1.39 jumped during opening trades, which helped Sensex touch a high of 16,552 in the afternoon. Short covering was witnessed in the interest rate sensitive sectors like Realty, Banking and Auto stocks, as markets witnessed a relief rally after the recent drubbing. All the sectoral indices were in the green with the IT and realty spaceGLOBAL MARKETS 27-Sep 26-Sep % Change leading the gains, up 5% and 4% each. IT shares surged after the recent battering as the Rupee depreciated 8Dow Jones Ind (USA) 11,191 11,044 1.33 per cent in the past month which would help boost the companies’ margins. Technically, after a gap-up opening above Monday’s hammer reinforced bullish momentum and actually accelerated throughout theNasdaq Composite(USA) 2,547 2,517 1.20 day. The BSE Sensex ended at 16,524, surging 473 points. The NSE Nifty closed at 4,972, up 137 points; theS&P 500 (USA) 1,175 1,163 1.07 BSE Sensex and the Nifty both closed near the best levels of the day.FTSE 100 (UK) 5,294 5,089 4.02 Market breadth on the Bombay Stock Exchange was positive. Out of 2,933 stocks which traded, 1,873 stocksDAX (Germany) 5,628 5,346 5.29 advanced and 952 stocks declined.Nikkei 225 (Tokyo) 8,610 8,374 2.81 GLOBAL MARKETSHang Seng (Hong Kong) 18,130 17,408 4.15 Global stocks rose the most in six weeks, with U.S. shares weathering a late-day selloff, as Greece madeShanghai Comp (China) 2,415 2,394 0.90 progress in meeting requirements for more international aid and Germany vowed continued support for theKOSPI (South Korea) 1,736 1,652 5.05 country. U.S. stocks retreated from their session highs following a Financial Times report that some euro-areaSTI (Singapore) 2,726 2,655 2.69 countries are demanding private creditors take bigger write-downs on their Greek bond holdings. Stocks rallied earlier as Greek Prime Minister George Papandreou won a vote on a new property tax in theMSCI Emerging Market 330 328 0.61 parliament. The S&P 500 Index rose 1.1 percent to 1,175 after surging as much as 2.8 percent. SilverMSCI Frontier Market 479 483 (0.83) rebounded after a three-day, 26 percent slide. Asian markets are trading mixed; Nikkei is up 0.3 percent, Shanghai is up 0.26 percent while Hang Seng is down 1.4 percent and Strait Times is down 0.6 percent.BOND MARKETS 27-Sep 26-Sep Change10yr G-Sec Yield 8.29 8.29 0.00 CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.34 8.34 0.00 Reliance Infrastructure CEO Lalit Jalan has reportedly said that Mumbai metro project to be completeLIBOR (6m) 0.23 0.23 0.00 by 2012 end. The report stated that company is planning to complete 20 out 0f 27 projects by March.LIBOR (1m) 0.16 0.16 0.00Interbank Call rate 8.29 8.29 0.00 Industrialist Anil Ambani said that his groups financial services arm Reliance Capital will explore all possible opportunities to enter the banking sector and plans to unlock value in all its major businesses. The banking entity of the group could be called Reliance Bank, Ambani told the shareholders of Reliance Capital. BSE Turnover Rs Cr(000) Sensex 17200 3.5 ICSA India Ltd along with its lead consortium partner Dongfang Electronics Company Ltd 17000 3.0 (Dongfang), China has bagged a LOA worth Rs. 1397.9mn from Tamil Nadu Generation & Distribution 16800 Corporation Ltd. (TANGEDCO) for the establishment of SCADA/ DMS projects in 7 cities in the state 16600 2.5 under RAPDRP scheme. 16400 2.0 16200 1.5 Glenmark Generics Inc., USA, the United States subsidiary of Glenmark Generics Limited, announced 16000 1.0 that the U.S. Food and Drug Administration has granted tentative approval for their generic version of 15800 IPRs migraine treatment Zomig tablets. 15600 0.5 15400 0.0 JSW Steel Ltd. might have to shut down its Vijayanagar Plant in Bellary, Karnataka if the shortage of 21-Sep 22-Sep 23-Sep 26-Sep 27-Sep iron ore continues, JSW Group Vice-Chairman Sajjan Jindal warned on Tuesday. ABG Infralogistics Ltd has said that a subsidiary of the company, ABG Ports Private Limited in consortium with PSA Mumbai Investments Pte. Ltd. (PSA) has been issued a Letter of Award dated NSE Turnover Rs Cr(000) Nifty September 26, 2011 by the Jawaharlal Nehru Port Trust (JNPT) for the Development of 4th Container 5200 14 Terminal at Jawaharlal Nehru Port on Design, Build, Finance, Operate and Transfer (DBFOT) Basis. 5100 12 10 Reliance Power Ltd. reportedly expects to commission 5,000 megawatts of capacity by the end of 5000 88.38 #DIV/0! 2012. Also, the company will commence coal production from its Indonesian mine next year. 8 4900 6 FMCG firm Dabur said that it will invest around Rs 125 crore in three years in Sri Lanka as it enters the 4800 4 island nation by forming a new subsidiary and setting a manufacturing facility there. 4700 2 4600 0 21-Sep 22-Sep 23-Sep 26-Sep 27-Sep
  2. 2. Sept 28, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 27-Sep 26-Sep % Change CORPORATE NEWSREALTY 1,788 1,708 4.66% With a final dividend payout of 179%, Bharat Heavy Electricals Limited (BHEL) has paidIT 5,184 5,006 3.56% an equity dividend of 311.5% for fiscal 2010-11, as against 233% paid in the year before.OIL&GAS 8,417 8,134 3.47% This includes an interim dividend of 133% paid earlier. At Rs. 15,248 Million, this is theTECk 3,233 3,138 3.02% highest-ever dividend paid by the company so far. With this, the company has maintainedCD 6,498 6,319 2.82% its unmatched track record of earning profits and rewarding investors by paying 2.74% dividends uninterruptedly for over three decades without a break.BANKEX 11,033 10,739AUTO 8,553 8,328 2.71% Kirloskar Brothers Limited (KBL), a global fluid management company launched itsMETAL 11,470 11,183 2.56% innovative product - Tamper Proof Kinetic Air Valve on at its state-of-the-art valvePOWER 2,156 2,109 2.23% manufacturing facility in Kondhapuri near Pune in India. The launch was performed at thePSU 7,509 7,353 2.13% hands of P. B. Tupe, Additional City Engineer - Pimpri Chinchwad Municipal CorporationFMCG 3,856 3,782 1.96% and Vinod Bodhankar, President – Jalbiradari Pune District and a renowned waterCG 11,204 11,009 1.77% conservationist. Many esteemed customers and senior officials and associates of KBL wereHC 5,885 5,847 0.65% also present during the event. Reliance Communications Ltd. (RCOM) is in advanced talks with several potential investors to sell its telecom tower unit, raising hope that the debt-stricken company could be close to sealing a deal it has been working on for more than a year. Also, the company reportedly expects to spend as much as Rs. 15bn in capital expenditure in the year ending March.BSE Upper Circuit BreakersCompany Name 27-Sep 26-Sep % Change Praj Industries Limited has reportedly said that the company has formed a new whollyPG Electroplast 494 412 20.00 owned step subsidiary by name Praj Industries (Tanzania) Ltd. at Dar Es Salaam, TanzaniaCravatex 492.4 447.7 10.00 through its subsidiary Praj Industries (Africa) (Pty) Ltd. in South Africa. This subsidiary hasPrima Plast 15.4 14.0 10.00 been formed to look after Companys business interest in Tanzania.Sanraa Media 0.1 0.1 10.00 0 The Oil Ministry representative on the panel that oversees operations in RelianceShekhawati Poly-Yarn 22.6 20.6 10.00 Industries (RILs) KG-D6 block has not approved almost half the gas finds the company has made, even though over years have elapsed since they were struck, oil regulator DGH has said. GMR Infrastructure said it has won the countrys first mega road project for widening the 555 km long Kishangarh-Udaipur-Ahemadabad highway, estimated to entail anBSE Lower Circuit Breakers investment of Rs 5,387 crore. The Bangalore-based group won the first highway project inCompany Name 27-Sep 26-Sep % Change Western India through international competitive bidding at Rs 636 crore annual premium for 26 years.B2B Software 13.50 14 (5.00)Clarus Finance 105.5 111.1 (5.00) French firm Arevas Indian arm Areva T&D said it has bagged a contract from RelianceMahaveer Infoway 21.5 22.6 (5.00) Power for the execution of a solar power project. Areva T&D Indias transmissionNilchem Inds 45.5 47.8 (5.00) business, now part of Alstom Grid, has been awarded a Rs 40 crore contract by RelianceShetron 16.2 17.0 (5.00) Power for design and construction of the 350-MW Doorsar solar power plant in Rajasthan, a company statement said. Lenovo, the worlds third-largest PC brand, has entered into a $300 million joint venture with contract laptop PC maker Compal to manufacture computers. Lenovo will own 51% of the joint venture company with Compal holding the rest, the PC brand said in a filing to the Hong Kong stock exchange. Japanese car major Honda announced its foray into the highly competitive low-price compact car segment in India with the launch of its Brio model, priced between Rs 3.95 lakh and Rs 5.1 lakhCOMMODITY 27-Sep 26-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 106 104 2.24Gold (Rs/10gm) 26,337 25,671 2.59 Brent Crude Oil ended up by 2.24% at $106 per barrel. Gold ended higher by percent at Rs 26,337 and Silver closed up by 5.73% at Rs 54,435.Silver (Rs/kg) 54,435 51,485 5.73CURRENCY 27-Sep 26-Sep % Change The Indian Rupee closed higher against the dollar at Rs 49.09 as the Indian equityINR / USD 49.09 49.44 (0.71) benchmarks ended on a very positive note.USD / Euro 1.35 1.34 0.75Yen / USD 76.43 76.37 0.08
  3. 3. Sept 28, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSRUCHISOYA 122.7 126.0 2.73 The Telecom Regulatory Authority of India (TRAI) is reportedly sticking to its cap of 100TULIP 156.0 158.4 1.54 SMSs per post-paid and pre-paid user per day beginning September 27, except onBEL 1503.0 1,521.9 1.26 festive and special days. According to reports, the regulator has no plans to do awayDCHL 58.5 59.1 1.03 these restrictions. TRAIs action came two days before the filtering mechanism forJPPOWER 33.3 33.6 0.90 unsolicited calls and messages finally comes into effect from September 27.MAX 204.2 205.9 0.83INDIANB 214.0 210.0 (1.87) The Union Minister of Commerce, Industry and Textiles Anand Sharma has set the targetTATACOMM 196.0 193.9 (1.07) of doubling the existing US$1.5 billion trade between India and Myanmar by 2015.TATAPOWER 101.5 100.5 (0.99)BHUSANSTL 331.0 328.0 (0.91) In what may have repercussions for industrial growth in August, eight core industries grew at their slowest in 11 months at 3.5 per cent in that month, down more than half ofDLF 217.3 215.7 (0.74) their highest growth in a year, which was 7.8 per cent in July. The major drop of theseBOMDYEING 361.7 359.3 (0.66) industries from 4.4 per cent in the same month last year could be attributed to contraction in coal and natural gas production by a shocking 15.3 per cent and 5.3 perINSTITUTIONAL ACTIVITY (Rs Cr) 19-Sep 16-Sep YTD cent, respectively.FII Cash Net -4 395 5,699FII Stock Futures -254.6 265 5,114 The government is set to relax the equity exposure norms for Life InsuranceFII Index Futures -34.12 88.19 13,915 Corporation (LIC), the largest institutional investor in the country, albeit with someMutual Fund -78.6 150 5,388 riders. A finance ministry official said LIC would be allowed to increase its exposure to more than 10 per cent in corporate entities.VALUATIONS P/E P/B DIV YLDBSE 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 %DLF 217.35 8.46 HATHWAY CAB 102.9 16.73 DEN NETWORK 72.7 17.54Jaiprakash Asso 73.2 5.93 Dewan Housing 221.4 9.09 Spanco 131.1 10.17Tata Motors 155.7 5.92 Sun Pharma Adv 80.6 7.54 Sundaram Clayton 143.8 8.90RIL 797.85 5.09 Rajesh Exports 123.4 7.07 Bombay Burmah 442.2 7.66Hindalco Inds 134.55 4.26 Hexaware Tech 78.4 6.52 SYMPHONY 1363.2 7.45TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Cipla 285.8 0.28 Shree Global Trd 313.8 -10.00 Zenith Info 169.9 -10.13- - - PIPAVAVSHIP 77.8 -4.42 Marathon Next 227.0 -9.99- - - Jyothy Lab 160.5 -2.82 MSP Steel 44.9 -6.36- - - Kirloskar Oil Engines 140.1 -2.81 Emami Paper 38.0 -5.82- - - Manappuram Finance 52.0 -2.07 Parenteral Drug 95.4 -5.08 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