Daily Newsletter - Sep 9, 2011

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Daily Newsletter - Sep 9, 2011

  1. 1. Sept 9, 2011Volume: 1 | Issue: 389| November 1, 2010INDIAN MARKET * 08-Sep 07-Sep % Change COMMENTARYBSE Sensex 17,166 17,065 0.59 INDIANSE Nifty 5,153 5,125 0.55 Markets ended in the green after swinging between gains and losses for the major part of the day asBSE Midcap 6,490 6,474 0.26 heavyweight Reliance Industries reversed losses and buying interest emerged in the IT shares. Earlier in theBSE Smallcap 7,359 7,307 0.72 day, the Nifty touched a low of 5,098 in opening trades, tracking subdued Asian peers and recoveredNifty Junior 10,337 10,333 0.04 thereafter for a brief period. The markets received a fresh jolt around noon after food price index was reported close to double digits, at 9.6 percent for the second consecutive week, raising concerns that theCNX Midcap 7,513 7,508 0.06 Reserve Bank of India will continue to maintain a hawkish stance and raise interest rates by another 25 bps during the policy review next week. The markets reversed trend and turned positive in the latter half of the day following positive opening in Europe. Finally, the BSE Sensex ended at 17,166, adding 100 points. TheGLOBAL MARKETS 08-Sep 07-Sep % Change NSE Nifty closed at 5,158, up 34 points. Small-Cap and Mid-Cap indices built on early gains in the afternoonDow Jones Ind (USA) 11,296 11,415 (1.04) even as Large-Cap peers started advancing. Market breadth was positive, 1,733 stocks advanced, for 1,099Nasdaq Composite(USA) 2,529 2,549 (0.78) stocks which declined on the BSE.S&P 500 (USA) 1,186 1,199 (1.09)FTSE 100 (UK) 5,340 5,319 0.41 GLOBAL MARKETSDAX (Germany) 5,408 5,404 0.09 US stocks fell 1% on Thursday after Federal Reserve Chairman Ben Bernanke gave no indications of newNikkei 225 (Tokyo) 8,793 8,764 0.34 stimulus measures to boost the flagging economy. The Dow Jones industrial average dropped 118 points, or 1.04 percent, to 11,296. The Standard & Poors 500 Index dropped 12.7 points, or 1.06 percent, to 1,185.8. TheHang Seng (Hong Kong) 19,913 20,048 (0.67) Nasdaq Composite Index dropped 19 points, or 0.78 percent, to 2,529. A rise in applications forShanghai Comp (China) 2,499 2,516 (0.68) unemployment benefits reported earlier in the day underscored weakness in the economy.KOSPI (South Korea) 1,846 1,833 0.70 Asian markets are trading mixed following U.S. President Barack Obama’s USD 447bn plan to spur growthSTI (Singapore) 2,857 2,832 0.87 countered downside risks to Europe’s economy. Nikkei is trading flat, Hang Seng is up 0.3 percent and StraitMSCI Emerging Market 390 382 2.09 Times is down 0.2 percent. Shanghai is up 0.4 percent after inflation in China eased in August from a three-MSCI Frontier Market 499 494 1.01 year high, giving policy makers more room to pause monetary tightening as the economy cools and a global slowdown threatens exports and jobs. SGX Nifty is trading at 5155, down 7 points indicating a flat opening.BOND MARKETS 08-Sep 07-Sep Change10yr G-Sec Yield 8.29 8.31 (0.02) CORPORATE/ ECONOMY NEWS1yr G-Sec Yield 8.30 8.30 0.00 Reliance Communications, Indias No 2 mobile phone carrier subscribers-wise, said on Thursday itLIBOR (6m) 0.39 0.39 0.00 received an order worth Rs 1,400 crore for building and maintaining a data centre for HDFC Bank. TheLIBOR (1m) 0.16 0.16 0.00 contract with HDFC Bank, the countrys No. 3 lender, is for 15 years, Reliance Communications said in aInterbank Call rate 7.9 7.9 0.01 statement. The tractor unit of Mahindra & Mahindra, which has made steady inroads into the highly competitive Chinese market to emerge as one of top five brands in the country, has begun construction of a new BSE Turnover Rs Cr(000) Sensex engine plant in Yancheng City of Chinas Jiangsu province. 17200 3.5 17100 3.0 Global fashion brand Tommy Hilfiger said it has bought 50% stake in Arvind Murjani Brands which 17000 has sub license for its products in the country. Tommy Hilfiger, which was bought by clothing group 2.5 PVH Corp last year, has also acquired Murjani Groups license for Tommy Hilfiger trademarks in India. 16900 2.0 Tommy Hilfiger has not disclosed terms of the deal. 16800 1.5 16700 REpower, a subsidiary of wind turbine maker Suzlon Energy received a contract to deliver turbines for 16600 1.0 seven wind farms. 16500 0.5 16400 0.0 Anil Gupta, joint president for sales and marketing at Hindalco Industries Ltd has reportedly said that 2-Sep 5-Sep 6-Sep 7-Sep 8-Sep Aluminum production capacity in India will be 3.6mn to 3.7mn metric tons by 2013, up from 1.3mn to 1.6mn tons. Shares of index bellwether and oil & gas major Reliance Industries Ltd. (RIL) rebounded from intraday NSE Turnover Rs Cr(000) Nifty lows after the company clarified its position on the CAG report on the KG-D6 Block off the east coast. 5200 14 The Government tabled the CAG report on Hydrocarbon Production Sharing Contracts (PSC), including 5150 13 RILs showpiece exploration block in the Parliament 5100 88.38 13 #DIV/0! Food inflation fell to a single-digit at 9.55% for the week ended August 27 after breaching the double- 5050 12 digit mark in the previous week, with prices of all items, barring pulses and wheat, going up on an annual basis. Food inflation, as measured on the basis of the Wholesale Price Index (WPI), stood at 5000 12 10.05% in the previous week. The rate of price rise of food items was 14.76% in the corresponding 4950 11 week of 2010. 4900 11 2-Sep 5-Sep 6-Sep 7-Sep 8-Sep
  2. 2. Sept 9, 2011 Volume: 1 | Issue: 389| November 1, 2010SECTOR 08-Sep 07-Sep % Change CORPORATE NEWSCD 6,696 6,565 1.99% Shares of Ranbaxy Laboratories Ltd. touched a three-month high after media reportsIT 5,066 4,990 1.52% suggested that the Company aims to start selling the generic version of Pfizer Inc.’sOIL&GAS 8,821 8,698 1.42% blockbuster drug Lipitor on schedule, in November.TECk 3,213 3,181 1.00%CG 12,577 12,467 0.88% Info Edge (India) Ltd has announced that the Company proposes to invest an additional amount of Rs. 200 mn through a mix of equity and convertible preferenceHC 6,049 6,004 0.75% shares in Applect Learning Systems Private Limited, which is engaged in onlineBANKEX 11,365 11,283 0.73% education and assessment business through it website meritnation.com. The CompanyAUTO 8,832 8,795 0.43% had invested Rs. 115 million in earlier rounds of funding in the aforesaid business.REALTY 1,813 1,807 0.34%POWER 2,247 2,252 -0.23% Suzlon Energy reported that the companys German unit REpower Systems hasFMCG 3,967 3,978 -0.27% received contracts from seven communities in Germanys Northern Friesland region toPSU 7,758 7,780 -0.28% deliver 47 wind turbines.METAL 12,707 12,796 -0.69% The European Central Bank (ECB) on Thursday left its key lending rate unchanged as leaders of the region continue to struggle in finding a lasting solution to the sovereign debt crisis. The decision was widely expected by markets and economists. The ECB’s Governing Council left the repo rate at 1.5% yesterday following a quarter-point hike at its July meeting.BSE Upper Circuit Breakers Vivanta by Taj (Indian Hotels), the 5-star hospitality brand positioned in the upper-Company Name 08-Sep 07-Sep % Change upscale segment and a part of Taj Hotels Resorts & Palaces is all set to open five moreAnkur Drugs 34 29 20.00 properties this year across the country. The hospitality major has already opened twoHindustan Dorr 45.3 37.8 20.00 properties this year. While it opened one in Srinagar earlier in the year, it inauguratedNectar Life 23.1 19.3 20.00 the Vivanta by Taj - Yeshwantpur in Bangalore on Thursday.S KumarsCom 4.2 3.5 20.00 0Triveni Glass-$ 7.1 5.9 20.00 Realty giant DLF may approach the Competition Appellate Tribunal (Compat) next week to challenge an order by competition watchdog CCI to pay a Rs 630 crore penalty for abuse of dominant market position. The company is considering challenging the order on the basis of the Competition Commission of Indias (CCI) classification of DLF as a "dominant player" in the relevant market, as well the competition watchdogs jurisdiction over the matter.BSE Lower Circuit Breakers State-run SAILs massive expansion drive to increase its steel production capacity toCompany Name 08-Sep 07-Sep % Change 21.40 million tonnes per annum (MTPA) at an investment of Rs 61,870 crore is expectedPolytex India 216.0 227.4 (5.00) to be completed by 2012-2013.Rajdhani Leas 132.2 139.2 (5.00) (5.00) Efforts to finalise a $2 billion-plus bid by Indias GVK Power & Infrastructure for twoRegal Entert 8.0 8.4 Australian coal mines owned by Hancock Prospecting have been delayed due toRhodia Specialty 389.2 409.7 (5.00) differences over valuationSowbhagya Media 26.7 28.1 (5.00) The Reserve Bank of India has told private lender Axis Bank that the proposed acquisition of Enams broking and investment banking businesses has to be an all-cash deal. The Rs 2,067-crore deal, pending since last November, was jointly announced by Axis and Enam. Expanding its footprint in Africa, Bharti Airtel will operate 2G and 3G mobile services in Rwanda for which it has announced an investment of USD 100 million in the next three years.COMMODITY 08-Sep 07-Sep % Change COMMODITY / CURRENCY NEWSBrent Crude Oil (USD/bbl) 115 115 0.13 2.28 Brent Crude Oil ended higher at $115 per barrel. Gold ended higher by 2.28 percent atGold (Rs/10gm) 27,838 27,217 Rs 27,838 and Silver closed down by 1.51 percent at Rs 65,650.Silver (Rs/kg) 65,650 66,655 (1.51)CURRENCY 08-Sep 07-Sep % Change The Indian Rupee closed lower against the dollar at Rs 46.24 as the Indian equityINR / USD 46.24 46.07 0.37 benchmarks ended on a positive note.USD / Euro 1.40 1.40 -Yen / USD 77.24 77.34 (0.13)
  3. 3. Sept 9, 2011 Volume: 1 | Issue: 389| November 1, 2010FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWSMLL 24.5 27.8 13.27 President Barack Obama called on Congress to pass a jobs plan that would inject $447ABAN 362.3 406.7 12.24 billion into the economy through infrastructure spending, subsidies to localSKUMARSYNF 44.4 49.6 11.60 governments to stem teacher layoffs and cutting in half the payroll taxes paid byFSL 12.1 13.0 7.88 workers and small-business owners. The package is heavily geared toward tax cuts,APIL 524.0 564.2 7.67 which account for more than half the dollar value of the stimulusNMDC 218.6 230.0 5.22SCI 88.7 86.2 (2.82) Worldwide PC sales growth is estimated to be 352 million units this year, just 3.8%BGRENERGY 342.0 333.4 (2.53) increase from 2010 and much lower than the earlier projection, according to ITAMBUJACEM 149.5 145.8 (2.51) research and advisory firm Gartner. PC shipments by the end of 2012 are expected toIOC 317.0 309.3 (2.44) reach 404 million units, 10.9% increase from 2011, Gartner said in a statement on its latest preliminary forecast.PTC 75.1 74.0 (1.46)DJIA 11355.0 11,207.5 (1.30) Hitachi Data Systems (HDS), a wholly owned subsidiary of Hitachi, yesterday said it has acquired network storage firm BlueArc Corp for an undisclosed amount.INSTITUTIONAL ACTIVITY (Rs Cr) 25-Aug 25-Aug YTDFII Cash Net -96.6 -1494 2,994 The Australian unemployment rate rose to 5.3% in August from 5.1% in July on aFII Stock Futures -126.3 382.47 777 seasonally-adjusted basis, the Australian Bureau of Statistics reported. EconomistsFII Index Futures 594.26 -179.53 9,784 had forecast an unemployment rate of 5.1%. This was the highest unemployment rateMutual Fund -50.7 202.5 5,999 since October 2010. Employment dropped 9.7% to 11.4 million, while unemployment rose 18.4% to 0.6 million.VALUATIONS 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 %Cipla 291.1 2.94 Madras Cements 99.2 8.89 Hindustan Dorr 45.3 20.00RIL 853.5 2.62 Delta Corp 105.3 7.94 Nectar Life 23.1 20.00Tata Motors 789.0 2.59 VIP Inds 982.8 7.60 Hanung Toys 121.3 13.15Wipro 338.0 2.58 KEC Intl 62.5 6.03 MidValley Entertainment 122.0 10.86ICICI Bank 919.3 2.51 JUBILANT 210.2 5.95 Andrew Yule 22.3 10.12TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs %Jindal Steel 553.5 -1.57 Eicher Motors 1397.9 -4.82 Bhansali Engr 24.9 -19.84Coal India 386.0 -1.35 HT Media 142.8 -4.45 Shree Ashtavina 5.5 -8.47Tata Power 1024.8 -1.34 Anant Raj Inds 65.5 -4.24 SML Isuzu 385.3 -5.45Tata Steel 492.7 -1.05 Motherson Sumi 202.8 -4.16 Modern India 37.1 -4.99BHEL 1772.8 -0.97 Spicejet 25.5 -4.14 Prabhav Inds 90.7 -4.98 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

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