The key points from the document are:
1) Indian stock markets opened lower but recovered most losses to end the day with modest gains, as buying was seen in metal and banking stocks.
2) Gateway Distriparks won a tender for a 2.58 hectare plot that will help expand its container handling capacity.
3) The document provides analysis and commentary on company news, market trends, and securities recommendations.
The document provides a market outlook and summary of recent news for India. It discusses volatility in domestic indices, previews upcoming company earnings results, and reviews recent company earnings. Key points covered include the Supreme Court extending a stay on the closure of Sterlite Industries' copper plant, Surya Roshni promoters proposing a warrant conversion triggering an open offer, and earnings results and previews for companies like L&T, Sesa Goa, Rallis India, HDFC Bank, and others.
The key points from the document are:
1) The Sensex closed slightly lower while mid and small cap indices gained, and state-run banks and capital goods stocks rose while IT and metals declined.
2) The market is expected to continue its upward momentum if the Nifty trades above 6,024 but could see a correction if it falls below that level.
3) News briefs highlighted the government capping fuel subsidies, forecasts of higher GDP growth for India, and corporate news about Hind Copper's share issue.
The document provides an analysis and outlook of the Indian stock market and various companies. It includes the following key points:
1) The Indian stock market indices ended the day with gains of 2% as foreign funds invested in the IPO of Coal India, boosting sentiments.
2) In the coming session, the market may see further gains if indices trade above certain threshold levels in the first half hour, or declines if below those levels.
3) Summaries of quarterly results from companies like TCS, Ambuja Cement, and ACC are provided, along with previews of upcoming results from Wipro and Bank of India.
- The key Indian stock market indices declined on October 18, 2010, with the Sensex falling 1.8% and the Nifty declining 1.9%. Mid-cap and small-cap indices fell less at 1.2% and 0.7%, respectively.
- Tata Motors' global sales grew 19% in September 2010, led by strong growth in commercial and passenger vehicle sales. Infosys reported a 12.1% rise in quarterly revenue.
- Dr. Reddy's received US FDA approval for its generic version of Prevacid, which it plans to launch shortly. ABG Shipyard won orders worth 370 crore rupees.
The Indian stock market ended the day on a weak note, with the Sensex and Nifty down 1.1%. Mid and small cap indices also closed lower. Select power, FMCG and healthcare stocks gained, while metals, real estate and banking stocks declined. Steel consumption in India rose 9.8% in the first half of the fiscal year. BHEL secured a Rs. 3,700 crore contract to set up a 700 MW power plant in Karnataka. Food inflation dipped marginally but is expected to ease further with the arrival of new crops.
The key Indian stock market indices opened weak but gained through the day, closing flat, as positive results from State Bank of India helped contain losses. NCC secured several new construction orders worth 673 million rupees. Indraprastha Gas reported quarterly results above expectations for revenue but slightly below for profits due to higher raw material costs. The document provides an analysis of market performance and notable company news and results.
- The key Indian stock indices ended the day with moderate losses of around 0.3% as the markets traded volatile and saw weakness on the back of mixed global cues.
- Among sectoral indices, metals and auto saw the sharpest declines of around 1.5% and 1.3% respectively, while healthcare gained 0.8%.
- In company news, L&T was awarded construction orders totaling Rs. 1,585 crore while Punj Lloyd bagged a Rs. 539 crore pipeline project from GAIL.
The market gained on September 13, with the Sensex and Nifty closing up 0.7% and 0.6% respectively. Mid and small cap indices also saw gains. Among sectors, banks and metals performed well, while oil & gas declined. Most global indices also closed higher.
The document provides analysis of Indosolar's upcoming IPO, noting its order backlog but history of losses. It also summarizes meetings with Ispat Industries management regarding new plants. Finally, it reviews an industry report showing some major dailies saw readership declines while others like the Times of India and DNA grew.
The document provides a market outlook and summary of recent news for India. It discusses volatility in domestic indices, previews upcoming company earnings results, and reviews recent company earnings. Key points covered include the Supreme Court extending a stay on the closure of Sterlite Industries' copper plant, Surya Roshni promoters proposing a warrant conversion triggering an open offer, and earnings results and previews for companies like L&T, Sesa Goa, Rallis India, HDFC Bank, and others.
The key points from the document are:
1) The Sensex closed slightly lower while mid and small cap indices gained, and state-run banks and capital goods stocks rose while IT and metals declined.
2) The market is expected to continue its upward momentum if the Nifty trades above 6,024 but could see a correction if it falls below that level.
3) News briefs highlighted the government capping fuel subsidies, forecasts of higher GDP growth for India, and corporate news about Hind Copper's share issue.
The document provides an analysis and outlook of the Indian stock market and various companies. It includes the following key points:
1) The Indian stock market indices ended the day with gains of 2% as foreign funds invested in the IPO of Coal India, boosting sentiments.
2) In the coming session, the market may see further gains if indices trade above certain threshold levels in the first half hour, or declines if below those levels.
3) Summaries of quarterly results from companies like TCS, Ambuja Cement, and ACC are provided, along with previews of upcoming results from Wipro and Bank of India.
- The key Indian stock market indices declined on October 18, 2010, with the Sensex falling 1.8% and the Nifty declining 1.9%. Mid-cap and small-cap indices fell less at 1.2% and 0.7%, respectively.
- Tata Motors' global sales grew 19% in September 2010, led by strong growth in commercial and passenger vehicle sales. Infosys reported a 12.1% rise in quarterly revenue.
- Dr. Reddy's received US FDA approval for its generic version of Prevacid, which it plans to launch shortly. ABG Shipyard won orders worth 370 crore rupees.
The Indian stock market ended the day on a weak note, with the Sensex and Nifty down 1.1%. Mid and small cap indices also closed lower. Select power, FMCG and healthcare stocks gained, while metals, real estate and banking stocks declined. Steel consumption in India rose 9.8% in the first half of the fiscal year. BHEL secured a Rs. 3,700 crore contract to set up a 700 MW power plant in Karnataka. Food inflation dipped marginally but is expected to ease further with the arrival of new crops.
The key Indian stock market indices opened weak but gained through the day, closing flat, as positive results from State Bank of India helped contain losses. NCC secured several new construction orders worth 673 million rupees. Indraprastha Gas reported quarterly results above expectations for revenue but slightly below for profits due to higher raw material costs. The document provides an analysis of market performance and notable company news and results.
- The key Indian stock indices ended the day with moderate losses of around 0.3% as the markets traded volatile and saw weakness on the back of mixed global cues.
- Among sectoral indices, metals and auto saw the sharpest declines of around 1.5% and 1.3% respectively, while healthcare gained 0.8%.
- In company news, L&T was awarded construction orders totaling Rs. 1,585 crore while Punj Lloyd bagged a Rs. 539 crore pipeline project from GAIL.
The market gained on September 13, with the Sensex and Nifty closing up 0.7% and 0.6% respectively. Mid and small cap indices also saw gains. Among sectors, banks and metals performed well, while oil & gas declined. Most global indices also closed higher.
The document provides analysis of Indosolar's upcoming IPO, noting its order backlog but history of losses. It also summarizes meetings with Ispat Industries management regarding new plants. Finally, it reviews an industry report showing some major dailies saw readership declines while others like the Times of India and DNA grew.
- The key Indian stock market indices declined on September 30, with the Sensex falling 0.7% and the Nifty declining 0.6%. Metals and realty stocks witnessed selling pressure.
- AREVA T&D India secured contracts worth Rs. 150 crore from Indiabulls for power projects. TCS won a five-year, AU$50 million infrastructure management contract from Australian energy company AGL.
- The markets were expected to trade in a range, with support at 19,727-19,842 for the Sensex and 5,922-5,957 for the Nifty, and resistance at 20,153-20,349 and 6,049-6,106 respectively
The key Indian indices logged gains for the third straight session led by foreign institutional buying and strong quarterly tax payments from companies. The Sensex and Nifty closed with gains of 0.5% each, reaching their highest levels in 32 months, while mid and small cap indices fell 1%. Software shares rose on improving US economic sentiment, while FMCG shares declined on profit taking. The document also provides analysis on Amara Raja Batteries, Orient Green Power's IPO, and market trends for the day.
The Indian stock market indices ended higher, with the Sensex and Nifty closing up 1.1% each. Key domestic news included Vedanta likely having to increase its open offer price for Cairn India shares, and Sadbhav Engineering raising funds that could lead to an upgrade of its stock. Global indices were mostly lower with declines in the Dow, Nasdaq and FTSE.
The document provides an analysis of the Indian stock market and various companies. It includes:
1) A summary of the performance of key Indian indices on May 27, 2010, with the Sensex and Nifty closing with gains of 2.3% each.
2) Previews of expected financial results for several companies reporting that day and maintaining ratings on stocks like Mphasis and Cairn India.
3) Reviews of actual 4QFY2010 financial results reported by companies like Bajaj Electricals, BHEL, Cinemax, and Tata Steel.
4) Details of deals like Mahindra & Mahindra's acquisition of a majority stake in electric car company Re
The market opened on a firm note on Monday but gains were pared later in the day. The Sensex and Nifty closed with gains of 0.7% and 0.6% respectively, though mid and small cap indices ended lower. Stocks like Wipro, Jaiprakash Associates and Tata Motors gained 3-4% while Hindalco, ACC and Tata Steel lost 1-2%. The report provides technical analysis suggesting the key support and resistance levels for the market and also summarizes some corporate news items including acquisitions by ABB India and HDIL raising funds through a QIP.
Indian markets opened higher on positive global cues but pared gains later in the day. The Sensex and Nifty ended the day up 0.2% and 0.3% respectively, with mid and small cap indices outperforming. Auto and realty stocks provided support, while IT and metal stocks declined. Tata Motors increased its QIP issue size to raise funds to reduce debt levels. IVRCL bagged construction orders worth Rs. 1,120 crore. Cement dispatches in September were affected by monsoons with most major players reporting lower volumes except JP Associates.
The key Indian stock indices declined on October 20, 2010, with the Sensex and Nifty falling 0.9% and 0.8% respectively, as IT stocks weakened due to concerns over Apple's iPad sales. Banking stocks also declined amid volatility. However, mid and small cap indices gained 0.2%. In company news, Larsen & Toubro won a Rs. 1,449 crore order, and HDFC Bank reported a 32.7% rise in Q2 profit in line with estimates.
- The Indian stock market declined significantly on May 20, with the Sensex falling 2.8% and Nifty down 2.9%, as Asian markets weakened.
- The 3G spectrum auction concluded, raising around Rs. 70,000 crore for the government, double the estimated amount. Major bidders like Bharti, RCOM, Idea, and Vodafone won spectrum in several circles.
- The government increased the price of natural gas sold by ONGC and OIL to $4.2 per unit, more than doubling the previous rate. This will boost the profits of these companies but increase costs for power and fertilizer firms.
The document provides a market outlook and summary of activity in Indian markets on June 10, 2010. Key points include:
- Domestic indices opened positive on gains in US markets and positive monsoon sentiments but pared gains to close lower. Mid and small cap indices outperformed.
- On sectoral performance, metals, oil and gas and realty saw buying while IT saw declines.
- The Bombay High Court approved the merger of Fem Care Pharma with Dabur India. NMDC's iron ore output was down 36% due to suspension of night freight trains in Chhattisgarh.
The Indian stock market rebounded after two days of losses, with the BSE Sensex closing 0.9% higher and Nifty crossing the 6,000 mark, gaining 1%. Mid-cap and small-cap indices also rose over 1%. Most sectoral indices ended in positive territory. The advance estimates of sugarcane production for the kharif season were in line with expectations. Hindustan Construction Company won a Rs. 660 crore contract for the construction of a hydroelectric power project. The market outlook was positive if Nifty trades above 6,000 levels in early trade.
The document summarizes the performance of Indian stock market indices on June 24, 2010. It notes that market volatility was high as traders rolled over positions in the derivatives segment, though the market recovered from an initial slide and closed marginally higher. Several indices such as BSE mid-cap and small-cap closed up 0.8% and 0.7% respectively. Top gainers included Amtek Auto and Anant Raj, while top losers included L&T and Indus Ind. The document provides an outlook for the next day's market and notes recent news about companies such as Sun TV Network and Concor.
The document summarizes market performance and news from India on August 17, 2010. Key points include:
- The BSE Sensex and Nifty indices closed down 0.6% on global economic recovery doubts. Mid and small cap indices performed better.
- The trend for the day will be determined if Nifty trades above or below key support and resistance levels.
- News includes SBI raising lending and deposit rates, Vedanta acquiring a majority stake in Cairn India, and Tata Motors' sales growth.
The document provides an outlook on the Indian market and analyzes various indices and sectors. It notes that the key benchmarks rose over 1.6% due to foreign buying and higher advance tax payments from companies. Specific sectors like FMCG, metals, and banking saw gains, while software stocks had a mixed trend. The document also provides a technical analysis of index levels and recommends levels to watch. It includes notes on upcoming IPOs from Electrosteel Steels and Ramky Infra, recommending subscribing to both based on their growth prospects and valuations.
The key Indian stock market indices saw modest gains of around 0.8% on positive cues from European and US markets recovering from early losses. Several mid-cap stocks such as United Breweries and United Breweries Holdings gained 5-20% while some like Gee Kay Finance and J&K Bank declined 3-5%. The document reviews the performance of key companies such as ACC, Ambuja Cements and Bajaj Auto reporting modest to strong revenue and profit growth or declines driven by factors like volume growth, input costs and currency fluctuations. The outlook provides technical support and resistance levels for the indices.
The Indian stock market indices gained slightly to reach their highest closing levels in over 32 months. Key sectors like realty, capital goods and metals rose, while FMCG stocks declined. The market pared some gains in afternoon trade due to profit booking. Cement prices are expected to rise in October in some regions. L&T received a Rs1,610 crore order, and M&M will raise vehicle prices starting October 1.
The key Indian indices surged by around 1.7% after China announced it would allow more flexibility in its currency. Metals and realty stocks rallied. The RBI directed banks to make NPA compromises in a transparent manner and express concerns about differing settlement amounts. Bharti Airtel plans to invest $100 million in expanding its network in Uganda over the next two years following its acquisition of Zain's Africa assets.
The document provides a market outlook and summary of key Indian indices and stocks from May 24, 2010. It includes:
1) A daily analysis of index performance and key stock movements.
2) A outlook for the next day's trading ranges.
3) Summaries of company results and deals, including RIL-ADAG group ending their non-compete agreement, Piramal Healthcare selling their domestic formulation business to Abbott, and results from Great Eastern Shipping, Inox Leisure, ITC, Jyoti Structures, and Sadbhav Engineering.
The document summarizes the performance of the Indian stock market indices on June 29, 2010. It reports that the key indices gained around 1% as positive sentiment was boosted by expectations of a good monsoon and the partial decontrol of fuel prices. Two notable company announcements are also summarized - Reliance Industries' seventh oil discovery, and Reliance Communication's plans to demerge its tower business with GTL Infra to create one of the world's largest independent telecom infrastructure companies.
The document provides an analysis of the Indian stock market indices on April 29, 2010. It summarizes that the indices witnessed a major fall of 1.8% in line with global markets due to credit rating downgrades in Europe. Most sectors declined, with metals falling the most. Reliance Industries and Tata Steel were among the biggest decliners. The outlook expects further declines if indices trade below certain levels in the first half hour, but sees potential for a rally if they trade above those levels. The document also provides brief summaries of company and market news.
The document provides an analysis of the Indian stock market indices and various company news items from September 9, 2010. It notes that the key indices closed with marginal gains of 0.1% despite weak global cues and volatility in the domestic markets. Specific company news included Sun Pharma receiving a favorable judgment in its tender offer for Taro Pharmaceutical, allowing its offer to proceed, and SpiceJet announcing plans to expand internationally. Sector performances were mixed with IT and real estate reversing losses while autos and capital goods declined.
- The Indian stock market indices opened higher but ended the day lower, with the Sensex and Nifty falling 1% each. Mid-cap and small-cap indices fell less at 0.6% each.
- Consolidated Construction Consortium secured a Rs. 200 crore order from Airports Authority of India. Sadbhav Engineering set a record date of June 17 for its rights issue to raise Rs. 125 crore.
- The report provides analysis of factors impacting the market and recommendations on specific stocks.
The market indices in India declined slightly on September 23, 2010. The Sensex and Nifty fell by 0.3% each, closing below 20,000 and 6,000 levels respectively, as European stocks also declined. Some frontline stocks like Maruti Suzuki and HDFC gained 1-4% while others like JP Associates and RCOM lost 2-3%. Midcap stocks like JSL Ltd. and Triveni Engg. rose 5-17% but others like Geekay Finance fell 4-5%. The trends for the day will depend on whether the Nifty trades above 5,992 levels in the first half hour.
- The key Indian stock market indices declined on September 30, with the Sensex falling 0.7% and the Nifty declining 0.6%. Metals and realty stocks witnessed selling pressure.
- AREVA T&D India secured contracts worth Rs. 150 crore from Indiabulls for power projects. TCS won a five-year, AU$50 million infrastructure management contract from Australian energy company AGL.
- The markets were expected to trade in a range, with support at 19,727-19,842 for the Sensex and 5,922-5,957 for the Nifty, and resistance at 20,153-20,349 and 6,049-6,106 respectively
The key Indian indices logged gains for the third straight session led by foreign institutional buying and strong quarterly tax payments from companies. The Sensex and Nifty closed with gains of 0.5% each, reaching their highest levels in 32 months, while mid and small cap indices fell 1%. Software shares rose on improving US economic sentiment, while FMCG shares declined on profit taking. The document also provides analysis on Amara Raja Batteries, Orient Green Power's IPO, and market trends for the day.
The Indian stock market indices ended higher, with the Sensex and Nifty closing up 1.1% each. Key domestic news included Vedanta likely having to increase its open offer price for Cairn India shares, and Sadbhav Engineering raising funds that could lead to an upgrade of its stock. Global indices were mostly lower with declines in the Dow, Nasdaq and FTSE.
The document provides an analysis of the Indian stock market and various companies. It includes:
1) A summary of the performance of key Indian indices on May 27, 2010, with the Sensex and Nifty closing with gains of 2.3% each.
2) Previews of expected financial results for several companies reporting that day and maintaining ratings on stocks like Mphasis and Cairn India.
3) Reviews of actual 4QFY2010 financial results reported by companies like Bajaj Electricals, BHEL, Cinemax, and Tata Steel.
4) Details of deals like Mahindra & Mahindra's acquisition of a majority stake in electric car company Re
The market opened on a firm note on Monday but gains were pared later in the day. The Sensex and Nifty closed with gains of 0.7% and 0.6% respectively, though mid and small cap indices ended lower. Stocks like Wipro, Jaiprakash Associates and Tata Motors gained 3-4% while Hindalco, ACC and Tata Steel lost 1-2%. The report provides technical analysis suggesting the key support and resistance levels for the market and also summarizes some corporate news items including acquisitions by ABB India and HDIL raising funds through a QIP.
Indian markets opened higher on positive global cues but pared gains later in the day. The Sensex and Nifty ended the day up 0.2% and 0.3% respectively, with mid and small cap indices outperforming. Auto and realty stocks provided support, while IT and metal stocks declined. Tata Motors increased its QIP issue size to raise funds to reduce debt levels. IVRCL bagged construction orders worth Rs. 1,120 crore. Cement dispatches in September were affected by monsoons with most major players reporting lower volumes except JP Associates.
The key Indian stock indices declined on October 20, 2010, with the Sensex and Nifty falling 0.9% and 0.8% respectively, as IT stocks weakened due to concerns over Apple's iPad sales. Banking stocks also declined amid volatility. However, mid and small cap indices gained 0.2%. In company news, Larsen & Toubro won a Rs. 1,449 crore order, and HDFC Bank reported a 32.7% rise in Q2 profit in line with estimates.
- The Indian stock market declined significantly on May 20, with the Sensex falling 2.8% and Nifty down 2.9%, as Asian markets weakened.
- The 3G spectrum auction concluded, raising around Rs. 70,000 crore for the government, double the estimated amount. Major bidders like Bharti, RCOM, Idea, and Vodafone won spectrum in several circles.
- The government increased the price of natural gas sold by ONGC and OIL to $4.2 per unit, more than doubling the previous rate. This will boost the profits of these companies but increase costs for power and fertilizer firms.
The document provides a market outlook and summary of activity in Indian markets on June 10, 2010. Key points include:
- Domestic indices opened positive on gains in US markets and positive monsoon sentiments but pared gains to close lower. Mid and small cap indices outperformed.
- On sectoral performance, metals, oil and gas and realty saw buying while IT saw declines.
- The Bombay High Court approved the merger of Fem Care Pharma with Dabur India. NMDC's iron ore output was down 36% due to suspension of night freight trains in Chhattisgarh.
The Indian stock market rebounded after two days of losses, with the BSE Sensex closing 0.9% higher and Nifty crossing the 6,000 mark, gaining 1%. Mid-cap and small-cap indices also rose over 1%. Most sectoral indices ended in positive territory. The advance estimates of sugarcane production for the kharif season were in line with expectations. Hindustan Construction Company won a Rs. 660 crore contract for the construction of a hydroelectric power project. The market outlook was positive if Nifty trades above 6,000 levels in early trade.
The document summarizes the performance of Indian stock market indices on June 24, 2010. It notes that market volatility was high as traders rolled over positions in the derivatives segment, though the market recovered from an initial slide and closed marginally higher. Several indices such as BSE mid-cap and small-cap closed up 0.8% and 0.7% respectively. Top gainers included Amtek Auto and Anant Raj, while top losers included L&T and Indus Ind. The document provides an outlook for the next day's market and notes recent news about companies such as Sun TV Network and Concor.
The document summarizes market performance and news from India on August 17, 2010. Key points include:
- The BSE Sensex and Nifty indices closed down 0.6% on global economic recovery doubts. Mid and small cap indices performed better.
- The trend for the day will be determined if Nifty trades above or below key support and resistance levels.
- News includes SBI raising lending and deposit rates, Vedanta acquiring a majority stake in Cairn India, and Tata Motors' sales growth.
The document provides an outlook on the Indian market and analyzes various indices and sectors. It notes that the key benchmarks rose over 1.6% due to foreign buying and higher advance tax payments from companies. Specific sectors like FMCG, metals, and banking saw gains, while software stocks had a mixed trend. The document also provides a technical analysis of index levels and recommends levels to watch. It includes notes on upcoming IPOs from Electrosteel Steels and Ramky Infra, recommending subscribing to both based on their growth prospects and valuations.
The key Indian stock market indices saw modest gains of around 0.8% on positive cues from European and US markets recovering from early losses. Several mid-cap stocks such as United Breweries and United Breweries Holdings gained 5-20% while some like Gee Kay Finance and J&K Bank declined 3-5%. The document reviews the performance of key companies such as ACC, Ambuja Cements and Bajaj Auto reporting modest to strong revenue and profit growth or declines driven by factors like volume growth, input costs and currency fluctuations. The outlook provides technical support and resistance levels for the indices.
The Indian stock market indices gained slightly to reach their highest closing levels in over 32 months. Key sectors like realty, capital goods and metals rose, while FMCG stocks declined. The market pared some gains in afternoon trade due to profit booking. Cement prices are expected to rise in October in some regions. L&T received a Rs1,610 crore order, and M&M will raise vehicle prices starting October 1.
The key Indian indices surged by around 1.7% after China announced it would allow more flexibility in its currency. Metals and realty stocks rallied. The RBI directed banks to make NPA compromises in a transparent manner and express concerns about differing settlement amounts. Bharti Airtel plans to invest $100 million in expanding its network in Uganda over the next two years following its acquisition of Zain's Africa assets.
The document provides a market outlook and summary of key Indian indices and stocks from May 24, 2010. It includes:
1) A daily analysis of index performance and key stock movements.
2) A outlook for the next day's trading ranges.
3) Summaries of company results and deals, including RIL-ADAG group ending their non-compete agreement, Piramal Healthcare selling their domestic formulation business to Abbott, and results from Great Eastern Shipping, Inox Leisure, ITC, Jyoti Structures, and Sadbhav Engineering.
The document summarizes the performance of the Indian stock market indices on June 29, 2010. It reports that the key indices gained around 1% as positive sentiment was boosted by expectations of a good monsoon and the partial decontrol of fuel prices. Two notable company announcements are also summarized - Reliance Industries' seventh oil discovery, and Reliance Communication's plans to demerge its tower business with GTL Infra to create one of the world's largest independent telecom infrastructure companies.
The document provides an analysis of the Indian stock market indices on April 29, 2010. It summarizes that the indices witnessed a major fall of 1.8% in line with global markets due to credit rating downgrades in Europe. Most sectors declined, with metals falling the most. Reliance Industries and Tata Steel were among the biggest decliners. The outlook expects further declines if indices trade below certain levels in the first half hour, but sees potential for a rally if they trade above those levels. The document also provides brief summaries of company and market news.
The document provides an analysis of the Indian stock market indices and various company news items from September 9, 2010. It notes that the key indices closed with marginal gains of 0.1% despite weak global cues and volatility in the domestic markets. Specific company news included Sun Pharma receiving a favorable judgment in its tender offer for Taro Pharmaceutical, allowing its offer to proceed, and SpiceJet announcing plans to expand internationally. Sector performances were mixed with IT and real estate reversing losses while autos and capital goods declined.
- The Indian stock market indices opened higher but ended the day lower, with the Sensex and Nifty falling 1% each. Mid-cap and small-cap indices fell less at 0.6% each.
- Consolidated Construction Consortium secured a Rs. 200 crore order from Airports Authority of India. Sadbhav Engineering set a record date of June 17 for its rights issue to raise Rs. 125 crore.
- The report provides analysis of factors impacting the market and recommendations on specific stocks.
The market indices in India declined slightly on September 23, 2010. The Sensex and Nifty fell by 0.3% each, closing below 20,000 and 6,000 levels respectively, as European stocks also declined. Some frontline stocks like Maruti Suzuki and HDFC gained 1-4% while others like JP Associates and RCOM lost 2-3%. Midcap stocks like JSL Ltd. and Triveni Engg. rose 5-17% but others like Geekay Finance fell 4-5%. The trends for the day will depend on whether the Nifty trades above 5,992 levels in the first half hour.
The document summarizes market performance and news from India on October 21, 2010. It reports that the Sensex and Nifty closed lower due to high volatility and a late sell-off. Mid-cap and small-cap indices outperformed the benchmarks. It provides analysis of specific companies and 2Q earnings results. It also includes commentary on trends, technical indicators, and FII flows for the day.
The key Indian stock market indices closed flat, erasing early gains as European markets turned negative. The mid-cap and small-cap indices gained 0.3% each. Select companies like M&M, Wipro and Bharti Airtel rose up to 1%, while RCOM, Hindalco and ONGC declined 1-3%. Two companies announced news - construction firm CCCL bagged orders worth Rs. 1,218 crore and auto parts maker TACO plans to exit a joint venture to raise funds for parent Tata Motors. The markets may see further gains if indices trade above key support levels in early trade, but may correct if trading below those levels.
The key Indian stock market indices closed flat, erasing early gains as European markets turned negative. The mid-cap and small-cap indices gained 0.3% each. Select companies like M&M, Wipro and Bharti Airtel rose up to 1%, while RCOM, Hindalco and ONGC declined 1-3%. Two companies announced news - construction firm CCCL bagged orders worth Rs. 1,218 crore and auto parts maker TACO plans to exit a joint venture to raise funds for parent Tata Motors. The markets may see further gains if indices trade above key support levels in early trade, but may correct if trading below those levels.
The key Indian stock market indices edged lower due to some profit taking, though mid and small cap stocks outperformed. Tata Motors divested a 20% stake in Telcon to Hitachi Construction Machinery and may dilute equity further by allowing bondholders to convert bonds to shares. Crompton Greaves acquired UK-based Power Technology Solutions, an engineering company serving electricity firms. The markets are expected to either continue rallying or see a minor correction depending on whether indices trade above or below certain levels in the first half hour of trade.
- The key Indian indices (Sensex and Nifty) declined by 0.4% and 0.5% respectively, tracking subdued European markets and concerns over rising food inflation in India.
- Banking, realty and oil & gas stocks led the declines, while HUL, ONGC and ITC gained 1-2%. Midcap stocks like Dalmia Cement rose 5-9% while losses were seen in Blue Star and Indusind Bank.
- The article provides analysis on recent company news and IPOs, and recommends a neutral view on the Ashoka Buildcon IPO and subscribe view on the Tecpro Systems IPO.
The document provides an overview of the Indian stock market indices on August 23, 2010. It reports that the key indices, Sensex and Nifty, closed down 0.3% and 0.2% respectively amid volatility. Most sectoral indices also closed lower, except for oil & gas which rose 0.8%. The document also provides analysis of factors that could influence market movement over the next trading sessions and highlights some top gaining and losing stocks.
Key points from the document:
1) Indian stock indices fell to their lowest levels in over 3 months as global stocks slumped due to tensions in Korea, concerns over global debt, and fears of sovereign defaults. The Sensex and Nifty closed down 2.7% and 2.8% respectively.
2) Grasim will demerge its cement business into a subsidiary called Samruddhi. Grasim shareholders will receive a 35% stake in Samruddhi.
3) Cadila received a milestone payment of Rs. 47.4 crore from Abbott as part of a strategic alliance to supply 24 branded generic drugs in 15 emerging markets.
- The Indian stock market opened flat but gained momentum and moved into positive territory, though selling pressure limited gains. The Sensex and Nifty closed down 0.3% and 0.2% respectively.
- Mid and small cap indices outperformed, gaining 0.8% and 1.1%. Select frontline stocks like RCOM and M&M rose 2-4% while HDFC and HUL fell 1-3%.
- Axis Bank plans to raise $200 million in commercial paper to fund its overseas branches. GSK Consumer is looking to expand into new food and beverage categories like health foods.
The key points from the document are:
1) Indian stock indices fell to their lowest levels in over 3 months as global stocks slumped due to tensions in Korea, concerns over global debt, and fears of sovereign defaults. The Sensex and Nifty closed down 2.7% and 2.8% respectively.
2) In company news, Grasim will demerge its cement business to Samruddhi today. Cadila received a milestone payment from Abbott for a supply deal. Marico acquired a skin care business in Singapore.
3) Results were mixed with GIPCL, HUL, and NCC above estimates while JK Tyres was below expectations.
Key points from the document:
1) Indian stock indices fell to their lowest levels in over 3 months as global stocks slumped due to tensions in Korea, concerns over global debt, and fears of sovereign defaults. The Sensex fell 2.7% and the Nifty fell 2.8%.
2) Grasim will demerge its cement business into a subsidiary called Samruddhi today. Grasim shareholders will receive shares in Samruddhi.
3) Cadila received a milestone payment of Rs. 47.4 crore from Abbott as part of a strategic alliance to supply 24 branded generic drugs across 15 emerging markets.
The document provides an analysis of the Indian stock market on May 21, 2010. It summarizes that the benchmark indices rebounded after two days of losses but came off highs, and closed up 0.7% and 0.6% respectively. Mid and small cap indices closed down. Oil and gas stocks rose after a gas price increase while telecom stocks were mixed following a 3G spectrum auction. Global indices also declined on the day with Dow Jones down 3.6%. The document then provides commentary on factors that could influence if the market rises or falls that day and lists the top gainers and losers. It also initiates coverage on Elecon Engineering and recommends it as a buy.
The document provides a market outlook and summary for India on May 21, 2010. It discusses:
1) The Indian stock market rebounded after two days of losses but closed up only modestly, while most global indices fell.
2) Key Indian indices like the Sensex and Nifty closed up 0.7% and 0.6% respectively, recovering from earlier losses.
3) The report provides previews and analysis of company results for ITC, Sadbhav Engineering, and Grasim Industries and initiates coverage on Elecon Engineering with a buy recommendation.
The market opened firmly but pared some gains later in the day due to profit-taking. Key indices closed near the day's high, with heavyweights leading the rally. All sectoral indices on the BSE were in the green. Mid and small-cap stocks outperformed frontline stocks. Career Point IPO is recommended with a subscribe rating. Eros International Media IPO is also recommended with a subscribe rating up to a 16% upside. Bajaj Hindusthan received export permission for 200,000 tonnes of raw sugar. Cement prices are expected to increase in southern India by Rs30 per bag.
The Indian markets are expected to open higher, tracking gains in most Asian markets. Spain has asked for a bailout of up to €100 billion for its banking system. Chinese exports grew more than expected in May. In India, shares extended gains for a fifth session despite weak global cues as major central banks held off on additional stimulus. The key support and resistance levels for the Nifty are 5,023 and 5,114 respectively. L&T has bagged orders worth Rs. 483 crore to build commercial vessels in Qatar. Vedanta Resources has acquired a 24.5% stake in Raykal Aluminium for Rs. 201 crore.
Axis Bank reported a 27.0% year-over-year increase in net profit to Rs. 942 crore for the first quarter of fiscal year 2012, in line with analyst estimates. Business growth momentum slowed as advances declined 7.4% quarter-over-quarter and deposits fell 3.0% quarter-over-quarter, moderating the bank's cash-deposit ratio to 40.5% from 41.1% last quarter. However, asset quality remained healthy with slippage ratio declining to 0.8% and gross and net NPA ratios stable.
1) For 1QFY2012, Electrosteel Castings reported 16.4% sales growth but margins declined due to higher raw material costs. EBITDA fell 18.2% and net profit declined 7.2%.
2) While sales volumes grew, costs increased more due to a rise in raw material costs as a percentage of sales.
3) The company maintains a buy recommendation due to initiatives in steelmaking and backward integration that should lower costs starting in FY2013 and valuation remains attractive.
1) For 1QFY2012, Persistent Systems reported revenues of ₹224 crore, up 5.2% over the previous quarter and 23.6% over the same period last year.
2) EBITDA was ₹40 crore, up 5.3% over the previous quarter but margins declined.
3) PAT was ₹28 crore, down 16.8% over the previous quarter due to higher taxes.
4) Management maintained revenue guidance of 29% growth for FY2012 and expects PAT to remain flat despite higher tax rates.
HT Media reported a 22.7% year-over-year increase in revenue to ₹494 crore for the first quarter of FY2012. Revenue was also up 5.8% quarter-over-quarter. Advertising revenue grew 17% year-over-year, with 18% growth in English and 15% growth in Hindi. Operating profit rose 11.8% year-over-year to ₹87.8 crore due to higher other income and lower tax rates, although operating margins contracted by 174 basis points. The company maintained its Accumulate rating based on expectations of continued revenue growth and margin expansion.
The summary is:
1) The derivative report analyzes the performance of the Nifty futures, options, and key stocks from the previous trading session on July 18, 2011.
2) It provides details on changes in open interest, premium levels, volatility, and turnover for various derivatives contracts.
3) Trading strategies and technical analysis is also given for some stocks along with risk-reward profiles of sample spreads trades for the Nifty.
The market ended lower, with the Sensex and Nifty closing down 0.3%. Mid- and small-cap indices closed higher. Select heavyweights like Hindalco Industries and BHEL gained 1-3%, while TCS and Tata Motors lost 1-2%. In corporate news, Motherson Sumi Systems agreed to acquire an 80% stake in Peguform for €141.5 million. HDFC Bank, Cadila Healthcare, Crompton Greaves, and Ashok Leyland are scheduled to announce their quarterly results. The trend for the day will be decided by whether Nifty trades above or below the levels of 18,533/5,572 in early trade.
- GSM subscriber additions in India continued their declining trend in June 2011, with net additions of 9.6 million, down 10% from the previous month.
- All major operators except BSNL reported a drop in subscriber additions. Bharti and Vodafone each added 2.1 million subscribers.
- The total GSM subscriber base reached 598.8 million in June 2011, with Bharti, Vodafone, Idea and BSNL maintaining their major market shares.
The document provides a technical analysis of the Indian stock market indices Sensex and Nifty for the week of July 16, 2011. It summarizes that the indices declined over 1.5% for the week and are currently trading in a range between 18,326/5496 on the downside and 19,132/5740 on the upside. It notes that a break above or below this range would dictate the direction of the upcoming trend. The analysis also lists pivot levels for 50 Nifty stocks to watch in the coming week.
The document provides a summary of derivative market activity in India for July 18, 2011. Key points include:
- Nifty futures open interest increased 0.67% while Mini Nifty increased 3.48% as the market closed at 5581.10
- Nifty July futures closed at a premium of 5.85 points and August futures at a premium of 22.60 points
- Implied volatility of at-the-money options decreased from 18% to 17.3%
- Total open interest in the market was Rs. 135,158 crore with stock futures open interest at Rs. 34,675 crore.
The indices opened flat but traded choppily throughout the day. Metal, auto and realty stocks declined while IT stocks gained. The indices are currently trading in a range between 18,326-18,810/5496-5653 on the downside and 19,132-19,094/5740-5700 on the upside. A break above these resistance levels could lead to further gains while a break below support could result in losses extending to 17,805-17,950/5350-5400. Pivot levels for 50 Nifty stocks are provided.
- The key Indian stock indices declined slightly, with the Sensex and Nifty closing down 0.3%.
- GSM subscriber additions in India continued their declining trend in June across most major operators such as Idea, Bharti Airtel, and Vodafone. Total GSM subscriber addition was 9.6 million, down 10% from the previous month.
- Tata Motors reported flat annual global sales growth in June 2011 compared to the previous year.
- South Indian Bank reported a 41.2% year-over-year increase in net profit to Rs. 82 crores for the first quarter of fiscal year 2012, slightly below analyst estimates.
- Business growth remained strong, with advances growth of 31.2% and deposits growth of 35.5% year-over-year. However, net interest margins compressed by 29 basis points sequentially to 2.8% due to a sharp rise in the bank's cost of deposits.
- Non-interest income was boosted by treasury gains, but fee income growth was modest. Asset quality was stable with gross and net NPAs rising marginally, and provision coverage at a comfortable 73.1%.
Bajaj Auto reported marginally lower-than-expected results for the first quarter of fiscal year 2012, with net sales growth of 22.8% year-over-year driven by a 17.7% increase in volumes. However, operating margins contracted by 145 basis points quarter-over-quarter to 19.1% due to a 150 basis point increase in raw material costs. As a result, net profit grew by 20.5% year-over-year to ₹711 crore, which was slightly below analyst estimates. Going forward, the analyst expects further margin pressure and has revised downward its earnings estimates for fiscal years 2012 and 2013 to factor in higher raw material costs and changes to export incentives.
1) Tata Consultancy Services (TCS) reported strong results for the first quarter of fiscal year 2012, outperforming expectations with revenue growth of 6.3% over the previous quarter and 31.4% over the same quarter of the previous fiscal year.
2) A key highlight was 7.4% quarter-over-quarter growth in business volumes. While profit margins declined due to wage hikes, net profit remained flat due to foreign exchange gains.
3) Management maintained a positive outlook, highlighting strong demand environment and deal pipeline, and expects pricing increases later in the fiscal year.
The document summarizes the Indian stock market outlook and performance on July 15, 2011. It reports that domestic indices closed with modest gains of 0.1-0.4%, while global indices declined. Wholesale price inflation in India rose to 9.44% in June 2011, above estimates and persisting above 9% for seven months, driven by increases in primary articles and fuel costs. Key benchmark levels are identified for determining if the market may continue rallying or correct in the near term.
The summary is:
1) The derivative report analyzes the movement in Nifty futures, options, and individual stocks between July 14-15, 2011.
2) Nifty futures open interest decreased while mini Nifty open interest increased as the market closed at 5599.80.
3) Implied volatility of at-the-money options increased from 17.6% to 18%.
The Sensex and Nifty indices opened lower and traded with volatility, closing marginally lower. On the sectoral front, Realty, Banks and Healthcare gained while IT and FMCG fell. The advance-decline ratio favored advancing stocks. On the daily chart, prices tested but did not close above the downward gap area of 18,679-18,589/5,601-5,580 levels. Immediate resistance is seen at 18,735/5,633, while 18,449/5,541 is crucial support.
1) Infosys reported modest revenue growth of 3.2% qoq for 1QFY2012. EBITDA and margins declined due to wage hikes.
2) Guidance for 2QFY2012 revenue growth was lower than expected at 3.5-5% qoq. Annual revenue growth guidance was unchanged.
3) The analyst revised EPS estimates down and cut the target price to INR 3,200 due to macro concerns and muted guidance.
This document summarizes a derivative report from India Research dated July 13, 2011. Some key points:
- The Nifty futures open interest increased 0.51% while Minifty futures open interest rose 8.2% as the market closed at 5526.15.
- Implied volatility of at-the-money options increased from 18% to 19.75%. PCR-OI decreased from 1.20 to 1.15.
- Total open interest of the market is Rs. 125,816 crore and stock futures open interest is Rs. 33,500 crore.
- FII were net sellers of Rs. 969 crore in the cash market segment. Put-call
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Market outlook 01 10 10
1. Market Outlook
India Research
October 1, 2010
Dealer’s Diary Domestic Indices Chg (%) (Pts) (Close)
Markets opened on a negative note following weak cues from the overnight US BSE Sensex 0.6% 112.8 20,069
markets. The Sensex continued to trade in the negative territory till the Nifty 0.6% 38.6 6,030
midsession; however, it recovered most of the early losses and hovered near the MID CAP -0.2% (19.8) 8,084
baseline in early afternoon trade. Staging a strong rebound, the Sensex SMALL CAP 0.1% 11.0 10,246
regained the 20,000 level as buying was witnessed in metal and banking BSE HC -0.1% (5.2) 5,996
stocks. The key benchmark indices ended on a firm note, with the Sensex and BSE PSU -0.5% (52.4) 10,280
Nifty ending up 0.6% each. BSE mid-cap lost 0.2%, while small-cap gained BANKEX 0.8% 105.8 14,025
0.1%. Among the front liners, HDFC, Sterlite Ind., Hindalco Ind., ITC and Wipro AUTO -0.5% (49.1) 9,528
gained 1–3%, while ACC, ONGC, Reliance Infra, RIL and RCOM lost 1–2%.
METAL 0.8% 138.0 16,865
Among mid caps, Wockhardt, Kwality Dairy, Kansai Nerolac, Shriram City
OIL & GAS -1.2% (123.5) 10,447
Union Finance and Honeywell Auto gained 6–7%, while Patni Computers,
BSE IT 0.3% 15.4 5,947
Sigrun Holdings, Gujarat State Petronet, MAH Holidays and Resorts and
Global Indices Chg (%) (Pts) (Close)
AstraZeneca Pharma lost 3–5%.
Dow Jones -0.4% (47.2) 10,788
Markets Today NASDAQ -0.3% (7.9) 2,369
The trend deciding level for the day is 20016 / 6014 levels. If NIFTY trades FTSE -0.4% (20.7) 5,549
above this level during the first half-an-hour of trade then we may witness a Nikkei -2.0% (190.0) 9,369
further rally up to 20168 – 20266 / 6064 – 6099 levels. However, if NIFTY Hang Seng -0.1% (20.5) 22,358
trades below 20016 / 6014 levels for the first half-an-hour of trade then it may Straits Times -0.3% (8.4) 3,098
correct up to 19917 - 19766 / 5980 - 5929 levels. Shanghai Com 1.7% 45.0 2,656
Indices S2 S1 R1 R2 Indian ADRs Chg (%) (Pts) (Close)
SENSEX 19766 19917 20168 20266 Infosys 0.3% 0.2 $67.3
NIFTY 5929 5980 6064 6099 Wipro -1.3% (0.2) $14.5
Satyam -4.7% (0.2) $3.9
News Analysis ICICI Bank 1.3% 0.6 $49.9
CEBBCO IPO Note: Avoid HDFC Bank 0.9% 1.6 $184.4
Gateway Distriparks wins tender for 2.58 hectare plot
Refer detailed news analysis on the following page.
Advances / Declines BSE NSE
Net Inflows (September 28, 2010)
Advances 1,299 541
Rs cr Purch Sales Net MTD YTD
Declines 1,698 811
FII 3,541 2,647 895 24,440 83,566
Unchanged 81 49
MFs 467 1,035 (568) (5,606) (21,399)
FII Derivatives (September 29, 2010) Volumes (Rs cr)
Open BSE 4,599
Rs cr Purch Sales Net
Interest
NSE 20,014
Index Futures 5,233 4,652 581 16,750
Stock Futures 7,354 7,836 (482) 37,521
Gainers / Losers
Gainers Losers
Price chg Price chg
Company Company
(Rs) (%) (Rs) (%)
HDFC 730 3.3 Patni Computer 416 (5.0)
Renuka Sugar 88 3.3 Tech Mahindra 756 (4.7)
Sterlite Ind. 167 3.3 Ambuja Cement 141 (4.3)
Hindalco 197 2.6 GSPL 110 (3.6)
ITC Ltd 178 2.5 IOC 419 (2.9)
1
Please refer to important disclosures at the end of this report Sebi Registration No: INB 010996539
2. Market Outlook | India Research
CEBBCO IPO Note: Avoid
Commercial Engineers & Body Builders Company (CEBBCO) currently operates in two key
segments, CV body building and wagon refurbishment business. With the help of the IPO
money, the company plans to enter wagon manufacturing business. We understand CV
body building business faces high competition from the unorganised sector, hence the
company’s ability to manage margin at the current level would be a big challenge. While
the market for wagon manufacturing and supply to Indian Railway (IR) is highly competitive
with 13 players (PSU + Private). Additionally, CEBBCO is a relatively new entrant in the
business and is yet to demonstrate its capabilities in winning the tender, successfully
executing the same and generating profitability at par with existing players.
At the upper price band of Rs127, the company would have a market cap of ~Rs680cr.
Under the best case scenario, we expect the company’s existing business to generate PAT
of Rs27cr in FY2012, a P/E of 25x at the higher band. To justify the implied market capital,
the company’s wagon manufacturing plant needs to operate at 100% utilisation rate and
generate profitability in line with existing players, which at the current juncture looks
stretched. Thus, we would like to wait and, hence, recommend Avoid to the IPO.
Gateway Distriparks wins tender for 2.58 hectare plot in Vallarpadam
Gateway Distriparks Ltd. (GDL) has announced that its 60% subsidiary, Gateway
Distriparks (Kerala) Ltd. (GDKL), has won a tender floated by Cochin Port Trust for a 2.58
hectare plot in Vallarpadam on a 30-year lease. It was a closely fought tender with six
bidders for this prime site opposite the International Container Transhipment Terminal
(ICTT). The Rs2,118cr (US $442mn) ICTT project is India's first trans-shipment hub and
would reduce India’s dependence on ports like Colombo, Dubai, Singapore and Salalah,
besides drawing incremental container traffic to India. The project includes an LNG
terminal, port-based SEZ and petrochemical complex, among other infrastructure.
GDKL already owns an eight-hectare freehold property at Kalamasserry, which, together
with this leasehold land of 2.58 hectares, will enable GDKL to create adequate capacities
to handle containers, in sync with the capacities and throughput of the ICTT. GDKL's total
investment in Vallarpadam and Kalamasserry will exceed Rs50cr. We maintain a Buy
rating on GDL with a Target Price of Rs123.
October 1, 2010 2
3. Market Outlook | India Research
Economic and Political News
Fiscal deficit falls 17% to Rs1.5lakh-cr during April-August
Current account deficit grows to US $13.7bn
Food inflation at 16.44%; fear of rate hike looms
Govt. crops loan interest subsidy by 50bp
Sugar futures ban lifted on upbeat outlook
Corporate News
Larsen & Toubro bags Rs700cr order
Ahluwalia Contracts wins Rs4.76bn orders
Sterlite moves Supreme Court against High Court order
Rel. Globalcom bags contracts worth US $100mn in over 3 months
IVR Prime raises Rs250cr from IFCI
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
October 1, 2010 3
4. Market Outlook | India Research
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