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1. COMMENTARY INDIAN MARKET 24-Nov 23-Nov % Change
BSE Sensex 19,460 19,692 (1.18)
NSE Nifty 5,866 5,925 (1.00)
BSE Midcap 8,004 8,094 (1.11)
BSE Smallcap 10,153 10,210 (0.56)
Nifty Junior 12,506 12,743 (1.86)
CNX Midcap 9,085 9,211 (1.37)
GLOBAL MARKETS 24-Nov 23-Nov % Change
Dow Jones Ind (USA) 11,187 11,036 1.37
Nasdaq Composite(USA) 2,543 2,495 1.92
S&P 500 (USA) 1,199 1,181 1.52
FTSE 100 (UK) 5,657 5,581 1.36
DAX (Germany) 6,824 6,705 1.77
10,030 10,115 (0.84)
23,024 22,896 0.56
Shanghai Comp (China) 2,859 2,828 1.09
KOSPI (South Korea) 1,926 1,929 (0.16)
STI (Singapore) 3,137 3,126 0.34
MSCI Emerging Market 581 580 0.22
MSCI Frontier Market 416 413 0.59
CORPORATE/ ECONOMY NEWS BOND MARKETS 24-Nov 23-Nov Change
10yr G-Sec Yield 8.06 8.09 (0.03)
1yr G-Sec Yield 7.20 7.20 (0.00)
LIBOR (6m) 0.45 0.45 0.00
LIBOR (1m) 0.25 0.26 (0.01)
Interbank Call rate 6.9 7.0 (0.10)
Nikkei 225 (Tokyo)
Hang Seng (Hong Kong)
Volume: 1 | Issue: 404| November 25, 2010
INDIA
The late afternoon news about CBI raids on housing finance and real estate companies led to a
major fall in stock prices of realty, banking and housing finance companies. An already uncertain
stock market, grappling with an Ireland collapse globally and domestic issues of 2G scam,
microfinance mess and other scams, pared morning gains and the Nifty fell from a high of 5,977
to close at 5,865. It seems like the year 2010 may be remembered as a scam hit year. The market
fall came on strong trading volume and turnover. The BSE Sensex fell 232 points to close at
19,460 and the NSE Nifty lost 69 points to close at 5,866.In the broader markets, the smallcap and
the midcap indices ended in the negative.
The market breadth was negative. Of the total 3,085 stocks traded on the BSE, 1,678 stocks
declined while 1,239 advanced.
GLOBAL MARKETS
U.S. stocks rallied more than 1% Wednesday after a huge drop in unemployment claims signalled
some signs of life in the depressed labor market. A drop in new home sales, a dour durable goods
order report and ongoing worries about the eurozone couldn't stop the momentum. The Dow
Jones industrial average jumped 151 points, or 1.4%, the S&P 500 rose 18 points, or 1.5%, and the
Nasdaq climbed 48 points, or 1.9%.
Asian markets are trading in the green, with the Nikkei up by 0.35% and the hang Seng up by
0.55%
The government today said that state-owned MOIL, which will hit the capital markets on
November 26, would become the first PSU to come with a public offer where retail investors can
invest up to Rs 2 lakh. The government has fixed the price band at Rs 340-375 a share for the
issue, which is expected to raise up to Rs 1,238 crore through the share sale programme.
Edible oil maker K S Oils reported a marginal 1.85 per cent growth in its net profit to Rs 51.11
crore for the second quarter ended September 30, 2010.The Morena, Madhya Pradesh-based
`
0
5
10
15
20
25
5750
5800
5850
5900
5950
6000
6050
18-Nov 19-Nov 22-Nov 23-Nov 24-Nov
NSE Turnover Rs Cr('000) Nifty
0.0
1.0
2.0
3.0
4.0
5.0
6.0
19200
19300
19400
19500
19600
19700
19800
19900
20000
18-Nov 19-Nov 22-Nov 23-Nov 24-Nov
BSE Turnover Rs Cr('000) Sensex
Volume: 1 | Issue: 404| November 25, 2010
INDIA
The late afternoon news about CBI raids on housing finance and real estate companies led to a
major fall in stock prices of realty, banking and housing finance companies. An already uncertain
stock market, grappling with an Ireland collapse globally and domestic issues of 2G scam,
microfinance mess and other scams, pared morning gains and the Nifty fell from a high of 5,977
to close at 5,865. It seems like the year 2010 may be remembered as a scam hit year. The market
fall came on strong trading volume and turnover. The BSE Sensex fell 232 points to close at
19,460 and the NSE Nifty lost 69 points to close at 5,866.In the broader markets, the smallcap and
the midcap indices ended in the negative.
The market breadth was negative. Of the total 3,085 stocks traded on the BSE, 1,678 stocks
declined while 1,239 advanced.
GLOBAL MARKETS
U.S. stocks rallied more than 1% Wednesday after a huge drop in unemployment claims signalled
some signs of life in the depressed labor market. A drop in new home sales, a dour durable goods
order report and ongoing worries about the eurozone couldn't stop the momentum. The Dow
Jones industrial average jumped 151 points, or 1.4%, the S&P 500 rose 18 points, or 1.5%, and the
Nasdaq climbed 48 points, or 1.9%.
Asian markets are trading in the green, with the Nikkei up by 0.35% and the hang Seng up by
0.55%
Disclaimer:This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public
distribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you
obtain written consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or
entity associated with it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own investigations and seek
professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or due to any inadvertent error in
the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making any investment
decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an
investmentor fund is not an indication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment
results or losses arising out of investment decisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA
The government today said that state-owned MOIL, which will hit the capital markets on
November 26, would become the first PSU to come with a public offer where retail investors can
invest up to Rs 2 lakh. The government has fixed the price band at Rs 340-375 a share for the
issue, which is expected to raise up to Rs 1,238 crore through the share sale programme.
Edible oil maker K S Oils reported a marginal 1.85 per cent growth in its net profit to Rs 51.11
crore for the second quarter ended September 30, 2010.The Morena, Madhya Pradesh-based
company had reported Rs 50.18 crore net profit in the same quarter last
Shriram EPC said it has bagged an order worth Rs 68 crore from SAIL for construction related
work at Durgapur Steel Plant. The order pertains to de-bottlenecking of a coal handling plant on
turnkey basis, at the company's Durgapur Steel Plant.
TVS Motor Company launched semi-synthetic 4stroke engine oil 'TRU4 Premium' offering better
fuel economy, longevity of engine life and lower emission levels.
Engineering and construction conglomerate Punj Lloyd said that it has won Rs 1,595 crore
domestic and overseas contracts, including a Rs 1,123 crore order from Indian Oil Corporation
(IOC) for the Paradip Refinery Project.
State-run power producer NTPC entered a pact with the Asian Development Bank and Japan's
Kyuden International Corporation to jointly develop renewable energy projects with a total
capacity of 500 MW across India over the next three years.
Cable & Wireless Worldwide said it has bagged a three-year contract from IT firm MphasiS for
managing its communications network worth $4.1 million. The agreement will see C&W
Worldwide connect MphasiS' global sites in India, China, the UK and the US by building and
managing a global communications network.
Nestle India has earmarked over Rs 450 crore to set up plants and expand existing facilities in the
country during the 2010 and plans to accelerate the pace of investment going forward.
Sun Pharma said that it has gotten the green signal from the US health regulator to market a
generic version of 'Cymbalta', a capsule used for treatment of anxiety and depression, in the
American market

2. CORPORATE NEWS SECTOR 24-Nov 23-Nov % Change
FMCG 3,622 3,613 0.24
Auto 10,116 10,111 0.05
Consumer Durables 6,521 6,537 (0.24)
Healthcare 6,579 6,597 (0.27)
Oil&Gas 10,149 10,207 (0.57)
Power 2,946 2,971 (0.86)
Teck 3,632 3,665 (0.90)
Metal 16,211 16,368 (0.95)
IT 5,937 6,001 (1.06)
Capital Goods 15,435 15,624 (1.21)
PSU 9,404 9,580 (1.84)
Realty 3,042 3,132 (2.88)
Bankex 13,478 13,886 (2.94)
BSE Upper Circuit Breakers
Company Name 24-Nov 23-Nov % Change
25.8 21.5 20.00
Catvatex 632.4 575.0 10.00
218.6 208.2 5.00
0 196.6 187.3 5.00
47.6 45.3 5.00
BSE Lower Circuit Breakers
EL Forge
Mansi Finance
Binny
Fusion Fittings
Volume: 1 | Issue: 404| November 25, 2010
Processed steelmaker Bhushan Steel expects its profit to grow by a quarter in 2010/11 on strong
demand and improved margins due to backward integration, its chief financial officer said on
Wednesday.
Shares of LIC Housing Finance were under pressure after reports surfaced that Central Bureau of
Investigation raided the offices of the finance company in connection with an alleged multi-crore
home loans scandal.
Yes Bank and Shinsei Bank of Japan yesterday signed an agreement to advise companies on
cross-border deals between the two nations.
Dr Reddy’s Laboratories, one of the country’s biggest drug firms, has bought GlaxoSmithKline’s
oral penicillin facility and products in the US for an undisclosed sum. The transaction is expected
to close within the first half of calendar year 2011.
Shares of JSW Energy has agreed to buy Canadian coal miner CIC Energy Corp for $414.5 million.
London-listed Vedanta Resources may next month seek shareholders' nod for buying majority
stake in Cairn India for up to $9.6 billion. The India-focused group, which last week secured $6
billion debt for the acquisition, is likely to post in next few days a circular convening a
shareholders meet in third week of December.
Tata Motors said that it is expecting over 50 per cent jump in the sale of its Ace family light
commercial vehicles (LCV) in the current fiscal, on account of robust demand. This translates into
upto 2.5 lakh units for sale.
Kishore Biyani-led Future Value Retail is looking to set up a new format of standalone stores
only for fruits and vegetables. fruits and vegetables is a profitable category and promises upto 10
per cent margin after taking into account wastages and supply chain losses.
Gujarat NRE Coke Ltd said its Australian unit reported a net profit for the half-year ended
September, compared with a loss a year ago, helped by higher coking coal output and robust BSE Lower Circuit Breakers
Company Name 24-Nov 23-Nov % Change
531.2 663.9 (20.00)
Industrial Investment 234.7 247.1 (5.00)
72.2 76.0 (5.00)
13.1 13.8 (5.00)
98.9 104.1 (5.00)
COMMODITY / CURRENCY NEWS COMMODITY 24-Nov 23-Nov % Change
Crude Oil (USD/bbl) 83.4 81.3 2.57
Gold (Rs/10gm) 20,406.0 20,508.0 (0.50)
Silver (Rs/kg) 41,748.0 42,028.0 (0.67)
CURRENCY 24-Nov 23-Nov % Change
INR / USD 45.69 45.47 0.48
USD / Euro 1.34 1.36 (1.19)
Yen / USD 83.30 83.34 (0.05)
NCL Research
Money Matters
Indo Zinc
BGIL Films
Volume: 1 | Issue: 404| November 25, 2010
Light Sweet Crude Oil on Wednesday closed up by 2.57 % at $83.4 per barrel. Gold closed down by
0.50% at Rs 20,406 and Silver closed down by 0.67 % at Rs. 41,748.
The Indian Rupee closed lower against the dollar at 45.69 as the Indian equity benchmarks ended
on a negative note.
Disclaimer:This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public distribution and has been
furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtain written consent from FSWA. While reasonable care
to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associated with it. The document is prepared only for your information and is not sufficient
for making an investment decision. You should rely on your own investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from
the use of this document or due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to
making any investment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment
or fund is not an indication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investment
decisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this
service or discontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification,
or termination of the information and services provided herein.
Processed steelmaker Bhushan Steel expects its profit to grow by a quarter in 2010/11 on strong
demand and improved margins due to backward integration, its chief financial officer said on
Wednesday.
Shares of LIC Housing Finance were under pressure after reports surfaced that Central Bureau of
Investigation raided the offices of the finance company in connection with an alleged multi-crore
home loans scandal.
Yes Bank and Shinsei Bank of Japan yesterday signed an agreement to advise companies on
cross-border deals between the two nations.
Dr Reddy’s Laboratories, one of the country’s biggest drug firms, has bought GlaxoSmithKline’s
oral penicillin facility and products in the US for an undisclosed sum. The transaction is expected
to close within the first half of calendar year 2011.
Shares of JSW Energy has agreed to buy Canadian coal miner CIC Energy Corp for $414.5 million.
London-listed Vedanta Resources may next month seek shareholders' nod for buying majority
stake in Cairn India for up to $9.6 billion. The India-focused group, which last week secured $6
billion debt for the acquisition, is likely to post in next few days a circular convening a
shareholders meet in third week of December.
Tata Motors said that it is expecting over 50 per cent jump in the sale of its Ace family light
commercial vehicles (LCV) in the current fiscal, on account of robust demand. This translates into
upto 2.5 lakh units for sale.
Kishore Biyani-led Future Value Retail is looking to set up a new format of standalone stores
only for fruits and vegetables. fruits and vegetables is a profitable category and promises upto 10
per cent margin after taking into account wastages and supply chain losses.
Gujarat NRE Coke Ltd said its Australian unit reported a net profit for the half-year ended
September, compared with a loss a year ago, helped by higher coking coal output and robust
prices.
CLSA upgraded Tata Steel to outperform from underperform , saying it believes that Asian steel
prices and the company's India margins can sustain at current levels through fiscal year 2012.
State-run Coal India is doing due diligence for a stake in a mine that belongs to US-based Massey
Energy, but has no plan to acquire the company itself, the Indian firm's chairman said on
Wednesday.
Tata Power plans to invest Rs 850-crore till FY12 to beef up generation, transmission and
distribution, a senior company official told PTI. The company will be investing Rs 850-crore over
3-years (FY10 till FY12) to enhance its generation, transmission and distribution capabilities.
Usher Agro, one of the leading rice millers in the country, has said that it aims to raise up to Rs
100-crore through Qualified Institutional Placement (QIP) issue, which opened yesterday. The
floor price for QIP issue is Rs 92.62 as per Sebi (ICDR) Regulations.

3. ECONOMY / POLICY NEWS FUTURES PREMIUM/DISC Cash Futures P/D%
Orient Bank 438.5 443.3 1.08
ABB 841.6 847.45 0.70
ICICI Bank 1125.1 1131.85 0.60
DLF 304.1 305.8 0.58
Maruti 1416.1 1423.15 0.50
Concor 1276.7 1283 0.50
Sun TV 490.0 484.6 (1.10)
Colpal 875.8 867.6 (0.94)
Bankindia 448.7 445.3 (0.75)
ALBK 253.3 251.7 (0.63)
Orchid Chemicals 313.1 311.2 (0.59)
Sobha 302.0 300.2 (0.58)
INSTITUTIONAL ACTIVITY (Rs Cr) 10-Nov 09-Nov YTD
FII Cash Net 111 108 1,26,751
FII Stock Futures (403) 260 (17,362)
FII Index Futures (816) (885) (8,251)
Mutual Fund (99) (391) 29,213
VALUATIONS P/E P/B DIV YLD
BSE 22.2 3.6 1.1
NSE 23.4 3.7 1.0
BSE500 Mcap/GDP Ratio 0.64
4.91
TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS
Name Rs % Name Rs % Rs %
Mahindra & Mahindra 784.25 3.23 TVS Motor 83.35 8.25 Goenka Diamond 87.2 19.53
Bharti Airtel 331.65 0.76 Gujarat Fluo 180.4 5.62 MSK Projects 126.45 13.82
Tata Steel 615.35 0.54 Apollo Tyres 65.1 4.58 Splash Media 78.7 12.11
ITC 173.1 0.41 Spicejet 84.85 3.79 Murli Inds 99.3 11.39
MOVERS & SHAKERS
Name
Volume: 1 | Issue: 404| November 25, 2010
The Central Bureau of Investigation (CBI) today arrested CEO of LIC Housing
Finance Ramachandran Nair and seven others including three top officials of public
sector banks in connection with an alleged housing finance racket. Apart from Nair,
those arrested are Naresh K Chopra, Secretary (Investment), LIC, R N Tayal, General
Manager of Bank of India (Delhi), Maninder Singh Johar, Director (Chartered
Accountant) of Central Bank of India, Venkoba Gujjal and Deputy General Manager
of Punjab National Bank (Delhi).Rajesh Sharma, Chairman and Managing Director
of Mumbai-based firm Money Matters and two of its employees -- Suresh Gattani
and Sanjay Sharma-- were among those arrested, CBI said.
Cellular Operators Association of India (COAI) indicated that profits of mobile
telecom industry may shrink further on account of strict subscriber verification
norms and levy of charges on erection of cell towers by the state governments.
State finance ministers are scheduled to meet on December 6 to break their
deadlock with the Centre on the proposed Goods and Services Tax (GST) to reduce
multiplicity of taxes. They will hold discussions on the requirement of a
constitution amendment bill for rolling out the proposed GST, which is all set to
miss even the revised deadline of April one, 2011.
Buoyed by the strong response to its PSUs shares sales, the government exuded
confidence that it would meet the disinvestment target of Rs 40,000 crore for the
current fiscal.
ITC 173.1 0.41 Spicejet 84.85 3.79 Murli Inds 99.3 11.39
Tata Motors 1217.5 0.32 Akzo India 804.95 3.36 Karuturi Glob 33.05 9.62
TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS
Name Rs % Name Rs % Rs %
SBI 2854.1 -3.34 Money Matters 531.2 -19.99 Solvay Pharma 2351.25 -11.49
DLF 305.35 -3 Man Infra 264.65 -15.38 SEL Mfg Company 27.6 -8.31
BHEL 2195.75 -2.74 MVL 24.35 -9.31 Eclerx Serv 688.9 -8.27
ICICI Bank 1125.1 -2.73 Central Bank 197.9 -8.02 Technofab Engineering 183.05 -8.06
HDFC Bank 2307.1 -2.67 Shree Ashtavina 43.5 -7.94 Orbit Corp 87.95 -7.08
SCRIPT NAME CLIENT NAME TYPE QTY % PRICE
SEL Manufacturing Company Trans Financial Resources BUY 1.25% 27.7
Delta Corp Limited Crosseas Capital Services BUY 1.55% 120.3
Hindustan Org Chem Ltd Jmp Securities BUY 1.54% 56.5
Subex Limited Suresh Kanmal Jajoo SELL 1.33% 82.0
BS TransComm Limited Crosseas Capital Services Pvt. Ltd. SELL 0.88% 185.5
Confidence Petro Jaroli Vincom BUY 1.25% 21.1
Bilpower Gulshan Investment Company BUY 0.85% 180.2
Asian Tea Asian Capital Market Limited BUY 0.97% 30.2
Ballarpur Inds Neha Khandelwal SELL 0.91% 35.5
Black Rose Inds Halan Finance & Investment SELL 1.35% 16.52
Name
BSE
BULK DEALS
NSE
Volume: 1 | Issue: 404| November 25, 2010
Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for
public distribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way
unless you obtain written consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other
person or entity associated with it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own
investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or
due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice
prior to making any investment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not
guaranteed. Also past performance of an investment or fund is not an indication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes
no liability or responsibility for investment results or losses arising out of investment decisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy
any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this service or discontinue, temporarily or permanently, the information
and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification, or termination of the information
The Central Bureau of Investigation (CBI) today arrested CEO of LIC Housing
Finance Ramachandran Nair and seven others including three top officials of public
sector banks in connection with an alleged housing finance racket. Apart from Nair,
those arrested are Naresh K Chopra, Secretary (Investment), LIC, R N Tayal, General
Manager of Bank of India (Delhi), Maninder Singh Johar, Director (Chartered
Accountant) of Central Bank of India, Venkoba Gujjal and Deputy General Manager
of Punjab National Bank (Delhi).Rajesh Sharma, Chairman and Managing Director
of Mumbai-based firm Money Matters and two of its employees -- Suresh Gattani
and Sanjay Sharma-- were among those arrested, CBI said.
Cellular Operators Association of India (COAI) indicated that profits of mobile
telecom industry may shrink further on account of strict subscriber verification
norms and levy of charges on erection of cell towers by the state governments.
State finance ministers are scheduled to meet on December 6 to break their
deadlock with the Centre on the proposed Goods and Services Tax (GST) to reduce
multiplicity of taxes. They will hold discussions on the requirement of a
constitution amendment bill for rolling out the proposed GST, which is all set to
miss even the revised deadline of April one, 2011.
Buoyed by the strong response to its PSUs shares sales, the government exuded
confidence that it would meet the disinvestment target of Rs 40,000 crore for the
current fiscal.