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Daily Newsletter - Sep 6, 2011


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Daily Newsletter - Sep 6, 2011

  1. 1. Sept 6, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET 05-Sep 02-Sep % Change COMMENTARYBSE Sensex 16,713 16,821 (0.64) INDIANSE Nifty 5,017 5,046 (0.57) Markets ended in the red on Monday snapping the 3-day winning streak, on cues from global peersBSE Midcap 6,357 6,325 0.51 preceded by weak jobs data from the US on Friday, which dampened sentiments. Services sector growth hasBSE Smallcap 7,146 7,134 0.18 slipped to a two-year low of 53.8 in August from 58.2 in July, according to the HSBC Markit Business ActivityNifty Junior 10,149 10,121 0.27 Index due to slowing global economy and monetary tightening in India, which also weighed on the investors mind. However, it was a strong show of resilience by the Indian equity markets even as the equitiesCNX Midcap 7,377 7,343 0.47 in other parts of the world sank on downbeat US jobs data and concerns over European debt crisis. The Sensex after touching a low of 16,561, managed to recover some lost ground and touched a high of 16,760. The index finally ended near that level at 16,713, down 108 points. Nifty ended down 23 points at 5,017.GLOBAL MARKETS 05-Sep 02-Sep % Change Most of the sectoral indices were in the red, with IT and oil & gas stocks leading the decline. Foreign investorsDow Jones Ind (USA)* 11,240 11,240 (0.00) have been net buyers over the last few sessions after offloading more than USD 2bn last month.Nasdaq Composite(USA)* 2,480 2,480 0.00 The BSE market breadth was positive with 1,481 stocks on the advancing side and 1,329 on the decliningS&P 500 (USA)* 1,174 1,174 0.00 side.FTSE 100 (UK) 5,103 5,292 (3.58) GLOBAL MARKETSDAX (Germany) 5,246 5,538 (5.28) European stocks tumbled as investors speculated that support for bailing out Europe’s indebted nations mayNikkei 225 (Tokyo) 8,784 8,951 (1.86) fade. The euro weakened for a fifth day versus the dollar after an election loss for Germany’s ruling party stoked concern support is fading for bailouts of Europe’s most-indebted nations, boosting demand forHang Seng (Hong Kong) 19,616 20,213 (2.95) refuge currencies. UK equities fell after disappointing service sector data (August purchasing manager indexShanghai Comp (China) 2,479 2,528 (1.96) on UK services remained above 50 - a level that indicates economic expansion - its fall to 51.1 from 55.4 inKOSPI (South Korea) 1,786 1,868 (4.38) July was the sharpest monthly drop in a decade and took the index to a three year low) for the UK added toSTI (Singapore) 2,773 2,843 (2.46) global slowdown fears. President Barack Obama is scheduled to outline his plans to spur the economy in aMSCI Emerging Market 395 401 (1.50) Sept. 8 address to Congress. U.S. financial markets were shut for a holiday.MSCI Frontier Market 500 502 (0.40) Asian stocks have fallen, the euro has weakened and oil has slumped on speculation Europe’s debt crisis is worsening. Nikkei is down 1.2%, Hang Seng is down 0.95% and Strait Times is down 0.76%.BOND MARKETS 05-Sep 02-Sep Change10yr G-Sec Yield 8.28 8.30 (0.02) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.30 8.30 0.00 State-owned Oil and Natural Gas Corp (ONGC) will file papers for its much-delayed Rs 12,000 croreLIBOR (6m) 0.39 0.39 0.00 share sale with market regulator Sebi. The follow-on public offer (FPO) is likely to open on September 20LIBOR (1m) 0.16 0.16 0.00 and close on September 23, sources privy to the development said.Interbank Call rate 8.0 7.5 0.51 State-owned BHEL said it has bagged a Rs 1,395-crore contract from the countrys biggest miner NMDC for handling raw material at its steel plant at Nagarnar in Chhattisgarh. BHEL will set up the Raw Material Handling System (RMHS) package for NMDCs three million tonnes per annum steel plant at Nagarnar in BSE Turnover Rs Cr(000) Sensex Chhattisgarh, on turnkey basis, the power equipment maker said in a statement. 17000 3.0 16800 Reliance Communications, Indias second-largest mobile phone carrier by subscribers, said it will 2.5 restructure its wireless business over the next 30 days in a move to increase its competitiveness. 16600 16400 2.0 Reliance Comm said in a statement that it would discontinue with its current structure with three 16200 regional heads, and would name a new chief operating officer and create a "leaner and flatter" structure. 1.5 16000 15800 1.0 Ranbaxy Laboratories said it has launched generic esomeprazol tablets, used for treating ulcers, in the 15600 United Kingdom (UK). Ranbaxy (UK) Ltd, a wholly owned subsidiary of Ranbaxy Laboratories Ltd, has 0.5 15400 launched esomeprazole tablets in strengths of 20 mg and 40 mg, in the UK, the company said in a 15200 0.0 statement. 26-Aug 29-Aug 30-Aug 2-Sep 5-Sep Non-Banking Finance Company (NBFC), Religare Finvest— a wholly owned subsidiary of Religare Enterprises aims to raise upto Rs 800 crore including greenshoe option of Rs 400 crore through public issue of Secured Redeemable Non Convertible Debentures (NCDs) of face value of Rs 1,000 each. NSE Turnover Rs Cr(000) Nifty 5100 14 SBI Life Insurance announced a foray into the health insurance segment with the launch of its Hospital 5000 12 Cash plan, which provides a fixed daily allowance to policyholders for each day of hospitalisation. 4900 10 88.38 #DIV/0! Ashok Leyland Ltd, countrys second largest commercial vehicle maker, said on Monday its total 8 4800 vehicle sales in August fell 3.5% to 7,218 vehicles from 7,480 a year ago. Domestic sales fell to 6,168 from 6 6,705 vehicles, while exports rose to 1,050 from 775, it said in a statement. 4700 4 4600 2 4500 0 26-Aug 29-Aug 30-Aug 2-Sep 5-Sep
  2. 2. Sept 6, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 05-Sep 02-Sep % Change CORPORATE NEWSCD 6,557 6,400 2.44% India’s largest private sector bank, ICICI Bank announced its foray into EMV (Europay,AUTO 8,683 8,572 1.30% MasterCard, Visa) Standard cards with the launch of the ICICI Bank Coral Credit Card. TheREALTY 1,784 1,770 0.81% chip-based card provides security against misuse in the form of counterfeiting andCG 12,076 12,029 0.39% skimming.BANKEX 10,990 10,950 0.37% Private sector lender, IndusInd Bank launched a trading platform for foreign exchange-METAL 12,452 12,429 0.18% FastForex for its corporate customers. The platform will enable them to reach the FXFMCG 3,987 3,996 -0.22% Treasury via internet and a standard web browser and manage forex transactions.POWER 2,202 2,211 -0.42%PSU 7,623 7,666 -0.56% Moser Baer India has approved raising up to Rs 575 crore ($125 million) by issuingHC 5,990 6,030 -0.66% equity or bonds in India or overseas, the compact disc maker said on Monday, sendingTECk 3,154 3,188 -1.06% its shares up as much as 4.8%. The company has also approved getting into a consultingIT 4,924 4,996 -1.44% agreement with France-based Harcourt.OIL&GAS 8,383 8,534 -1.77% Drug firm Suven Life Sciences said it has received four product patents in Australia and New Zealand for its new chemical entities (NCEs), which could be used for treating various central nervous disorders. PG Electroplast, an electronic manufacturing services provider, has set a price band of Rs 190-210 per share for its initial public offering to raise up to Rs 121 crore. The shareBSE Upper Circuit Breakers sale, which will offer 5.75 million shares, will constitute 35% of the fully diluted post-Company Name 05-Sep 02-Sep % Change issue paid-up share capital, the company said in a statement on Monday. Proceeds fromJ.KUMAR INFRAPROJECTS 110 91 20.00 the issue, which will open on September 7 and close on September 12, will be used toSHREE ASHTAVINAYAK CINE VISION 5.9 4.9 19.90 fund expansion, retire debt and meet working capital requirements. Almondz GlobalSAFARI INDUSTRIES 144.2 131.1 10.00 Securities is the sole book running lead manager to the issue.TTK HEALTHCARE 464.8 422.5 10.00 0INFINITE COMPUTER SOLUTIONS 86.5 78.7 10.00 Tata Consultancy Services, has put in a bid valued at USD 500mn to acquire a controlling stake in Lufthansa IT systems, according to a report. The report stated that the company is in talks to negotiate a multi-year contract from Lufthansa which could yield revenues in excess of $2 bn for the company. Credit Suisse is advising TCS on its bid for Lufthansa IT systems, says report. Marico is set to enter India’s Rs 45bn skincare market by expanding its coconut hair oilBSE Lower Circuit Breakers brand, Parachute, to the skincare segment, reports stated.The company will enter theCompany Name 05-Sep 02-Sep % Change skincare market under the Parachute Advanced brand.Everonn Education ltd 281.2 351.5 (20.00)PRRANETA INDUSTRIES 31.2 34.6 (10.00) Billionaire investor Rakesh Jhunjhunwala is likely to pick up stake in Nikhil Gandhi- (5.00) promoted Pipavav Defence and Offshore Engineering Company Ltd (PipavavKEMP & COMPANY 272.9 287.2 Shipyard) through convertible share warrants.PRABHAV INDUSTRIES 105.7 111.3 (5.00)REIL ELECTRICALS INDIA 300.0 315.7 (5.00) The Hero Group of automobile makers on Monday announced its foray into the hospitality sector. Its first property is expected to come up in Gurgaon by the end of 2012. Automobile major Mahindra & Mahindra on Monday said it will launch sports utility vehicles (SUVs) from SsangYong in India by the middle of next year after its latest SUV debuts in December. Dunlop India Ltd (DIL), the Kolkata-based tyre manufacturing company controlled by Pawan Kumar Ruia, has put its real estate assets on a block to raise money. The company plans to offload Worli property for Rs 300-350 cr.COMMODITY 05-Sep 02-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 111 113 (1.21) 1.06 Brent Crude Oil ended 1.21 percent lower at $111 per barrel . Gold ended higher byGold (Rs/10gm) 28,378 28,081 1.06 percent at Rs 28,378 and Silver closed up by 2.51 percent at Rs 66,263.Silver (Rs/kg) 66,263 64,639 2.51CURRENCY 05-Sep 02-Sep % Change The Indian Rupee closed lower against the dollar at Rs 45.99 as the Indian equityINR / USD 45.99 45.78 0.46 benchmarks ended on a negative note.USD / Euro 1.41 1.42 (0.70)Yen / USD 76.81 76.80 0.01
  3. 3. Sept 6, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSPATELENG 103.2 104.4 1.21 Internet titan Google, which is on an acquisition spree, has bought digital couponsHOTELEELA 38.3 38.7 1.04 and incentives platform Zave Networks for an undisclosed amount. Zave Networks isMCLEODRUSS 241.6 243.9 0.95 Googles 19th buyout this year so far. According to an estimate, Google has acquiredRAYMOND 360.6 363.7 0.87 over 100 firms in the last decade, starting with Deja, a company in the Usenet spaceDHANBANK 76.9 77.6 0.85 that was later integrated with Google Groups.AREVAT&D 221.9 223.8 0.83HINDPETRO 383.6 369.8 (3.60) Japanese auto major Honda said it will recall 72,115 units of its mid-sized sedan City inIOC 315.5 306.0 (3.01) India to replace defective power window switches as part of a global exercise.SCI 87.7 85.2 (2.85)BGRENERGY 332.6 325.0 (2.27) The cabinet on Monday approved the draft Land Acquisition, Relief and Rehabilitation Bill with changes that take away some of the farmer-friendly features it boasted of andPTC 73.0 71.5 (2.05) some of the teeth industry was concerned about. The Bill will be tabled in ParliamentSKUMARSYNF 47.8 47.0 (1.68) on Wednesday.INSTITUTIONAL ACTIVITY (Rs Cr) 24-Aug 23-Aug YTD The Ministry of Environment and Forests (MoEF) has reportedly informed the BombayFII Cash Net -757.4 -71.7 4,584 High Court that it would pass its final order in the Lavasa case within three weeks,FII Stock Futures 166.95 148.27 520 according to a report.FII Index Futures 338.61 488.49 9,363Mutual Fund 94.4 119.8 5,847VALUATIONS P/E P/B DIV YLDBSE 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 %HEROMOTOCO 2174.4 5.16 BF Utilities 515.1 17.11 J Kumar Infra 109.7 19.97Jaiprakash Asso 64.5 4.20 Alfa Laval 1926.0 12.70 Shree Ashtavina 5.9 19.92Bajaj Auto 1668.1 2.74 Sujana Towers 27.3 10.55 Nitin Fire 140.2 12.08Jindal Steel 535.0 1.81 Spicejet 26.3 8.45 Sandur Mang 500.0 10.96Tata Steel 494.7 1.26 Amtek Auto 138.5 7.49 Oscar Invest 394.5 10.95TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Wipro 321.9 -3.65 KEC Intl 57.7 -5.26 EVERONN 281.2 -19.99ONGC 256.9 -2.67 KGN Inds 28.9 -4.94 Prraneta Inds 31.2 -9.97Infosys 2263.9 -2.23 Polaris Soft 118.3 -4.94 Bhagwati Banq 82.8 -6.97RIL 788.9 -2.05 Bhushan Steel 340.5 -4.58 REISIX TENR 27.3 -6.51Sterlite Inds 131.3 -1.91 Bajaj Elect 176.1 -4.53 DIAMONPOWER 110.1 -6.06 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