- The Indian stock market declined on June 30, 2010 as the Sensex and Nifty closed down 1.4% and 1.5% respectively, taking cues from weak Asian markets and concerns about slowing Chinese economic growth.
- Four public sector banks, including SBI, announced their new base lending rates which analysts believe may increase corporate borrowing costs but market competition will ultimately determine effective rates.
- Drug maker Alembic announced plans to separate its pharmaceutical business into a new subsidiary through a demerger of the pharma business.
The document provides an overview of the Indian stock market performance on April 28, 2010. It summarizes key index changes, reviews earnings results of several companies, and provides technical analysis on expected market movement. The Sensex and Nifty closed with losses of 0.3% as investors booked profits. Several companies reported earnings that were below or in-line with expectations. The technical outlook suggests the markets may see further gains if indexes trade above certain levels in early trading.
The key Indian stock indices slumped by around 0.7% as European and US stocks declined. Metal, banking and IT stocks fell the most. Intraday volatility was high as traders rolled over positions. The markets may see further gains if the indices remain above certain support levels, but may correct otherwise. Piramal Healthcare acquired assets from BioSyntech, a medical device company, while Rabobank sold an 11% stake in YES Bank for Rs. 1,000 crore.
The key points from the document are:
1) The Indian stock market opened higher but later fell into negative territory and hit fresh lows, before recovering slightly in the afternoon but still closing mostly flat with the Sensex and Nifty down 0.3%.
2) The RBI increased repo and reverse repo rates by 25 basis points each to 5.5% and 4% respectively to curb rising inflation in India.
3) Hindustan Media Ventures IPO was recommended to be subscribed based on the company's large readership base and infrastructure.
The market remained volatile throughout the day in India, with the key indices closing down around 1.6-1.7% as Asian stocks weakened initially and European markets opened lower later in the day. Several large companies such as Bharti Airtel, ITC and Grasim closed up slightly while Tata Steel, SBI and Hindalco fell 3-5%. Mid and small cap indices also ended lower. Earnings results from companies such as DLF, Deccan Chronicle and Nalco were mixed, with some beating estimates but others missing. Previews suggested GAIL and NTPC results later in the day may show growth.
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 key Indian stock market indices opened lower taking cues from weak global markets but recovered later in the day. The Sensex and Nifty ended the session up 0.3% each. Several companies are scheduled to announce quarterly results today including Aventis Pharma, Container Corp, Crompton Greaves, HDFC Bank, and Sesa Goa. The report provides expectations for the results and stock price forecasts for some of these companies. It also summarizes recent corporate deals and economic news in India.
The market edged higher in early trade but later declined, with the Sensex and Nifty closing down 0.1%. Mid-cap and small-cap indices closed up slightly. Reliance Industries agreed to pay $1.3 billion for a stake in Pioneer Natural Resources' shale gas assets in Texas. This adds 4.5 trillion cubic feet of gas to RIL's reserves. McNally Bharat Engineering won an order worth Rs41.4 crore from NTPC.
- 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 document provides an overview of the Indian stock market performance on April 28, 2010. It summarizes key index changes, reviews earnings results of several companies, and provides technical analysis on expected market movement. The Sensex and Nifty closed with losses of 0.3% as investors booked profits. Several companies reported earnings that were below or in-line with expectations. The technical outlook suggests the markets may see further gains if indexes trade above certain levels in early trading.
The key Indian stock indices slumped by around 0.7% as European and US stocks declined. Metal, banking and IT stocks fell the most. Intraday volatility was high as traders rolled over positions. The markets may see further gains if the indices remain above certain support levels, but may correct otherwise. Piramal Healthcare acquired assets from BioSyntech, a medical device company, while Rabobank sold an 11% stake in YES Bank for Rs. 1,000 crore.
The key points from the document are:
1) The Indian stock market opened higher but later fell into negative territory and hit fresh lows, before recovering slightly in the afternoon but still closing mostly flat with the Sensex and Nifty down 0.3%.
2) The RBI increased repo and reverse repo rates by 25 basis points each to 5.5% and 4% respectively to curb rising inflation in India.
3) Hindustan Media Ventures IPO was recommended to be subscribed based on the company's large readership base and infrastructure.
The market remained volatile throughout the day in India, with the key indices closing down around 1.6-1.7% as Asian stocks weakened initially and European markets opened lower later in the day. Several large companies such as Bharti Airtel, ITC and Grasim closed up slightly while Tata Steel, SBI and Hindalco fell 3-5%. Mid and small cap indices also ended lower. Earnings results from companies such as DLF, Deccan Chronicle and Nalco were mixed, with some beating estimates but others missing. Previews suggested GAIL and NTPC results later in the day may show growth.
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 key Indian stock market indices opened lower taking cues from weak global markets but recovered later in the day. The Sensex and Nifty ended the session up 0.3% each. Several companies are scheduled to announce quarterly results today including Aventis Pharma, Container Corp, Crompton Greaves, HDFC Bank, and Sesa Goa. The report provides expectations for the results and stock price forecasts for some of these companies. It also summarizes recent corporate deals and economic news in India.
The market edged higher in early trade but later declined, with the Sensex and Nifty closing down 0.1%. Mid-cap and small-cap indices closed up slightly. Reliance Industries agreed to pay $1.3 billion for a stake in Pioneer Natural Resources' shale gas assets in Texas. This adds 4.5 trillion cubic feet of gas to RIL's reserves. McNally Bharat Engineering won an order worth Rs41.4 crore from NTPC.
- 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 document summarizes key points from Reliance Industries' annual general meeting, including plans to expand refining, petrochemical, and retail operations. RIL announced capacity additions in polyester, new plants for paraxylene and other petrochemical products, and aims to grow retail sales to $10 billion within five years. RIL also discussed priorities in upstream oil and gas exploration and developing a shale gas business, as well as investing in coal, hydro, and nuclear power plants.
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 indices slumped over 1% due to weak global markets and concerns over the Greek economic situation. Metal and banking stocks declined, while some IT stocks like Infosys rose slightly. The market breadth turned weak. Mphasis agreed to acquire Fortify Infrastructure Services to enhance its infrastructure business. The government approved the divestment of 10% of its stake in Steel Authority of India Ltd.
The stock market indices in India slumped on May 5, 2010, extending losses for the second straight day as global stocks fell. The BSE Sensex and Nifty closed down 1.4% each. Several major Indian companies announced positive quarterly earnings or new deals, including cement companies reporting robust year-over-year growth in shipments in April 2010 due to capacity additions and demand. HCL Technologies also signed a new $500 million, 5-year outsourcing deal with pharmaceutical company MSD to provide various IT services.
- The Indian stock market indices declined on June 2, 2010, with the Sensex and Nifty closing down 2.2% and 2.3% respectively, due to weak global cues from a slowdown in Chinese manufacturing growth.
- The report provides analysis of movements in various industry indices and stocks, with some gaining up to 14% while others fell up to 6%.
- United Phosphorus is initiated with a Buy rating based on opportunities for growth in the global $40 billion agricultural chemicals industry as patents expire on large products and the company's attractive valuation compared to peers.
The key Indian stock indices ended lower, extending losses for the second straight day. The BSE Sensex lost 0.4% and the Nifty fell 0.3% while the mid-cap and small-cap indices rose by 0.3% and 0.5% respectively. Bharti Airtel extended its partnership with Ericsson with a $1.3 billion network expansion contract. IRB Infrastructure achieved financial closure for the remaining two of its road projects worth Rs. 775 crores.
The document discusses market performance and outlook for India on July 21, 2010. Key Indian indices closed down 0.3% as markets reversed early gains. The document provides technical analysis targets and support/resistance levels for the indices. It also summarizes recent quarterly results from Automotive Axles and Sesa Goa, and previews results for several other companies. Market volumes and FII flows are also summarized.
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 key Indian stock market indices edged higher in early trade but then reversed gains and slumped later in the day. The Sensex and Nifty closed down 0.8% and 0.7% respectively due to weak global cues. Tata Motors gained on strong quarterly results while other frontline stocks like Tata Steel and HDFC declined. Midcap stocks like Tata Investment and United Breweries rose over 5% while Educomp and IVRCL Infra lost over 5%. The RBI released a discussion paper proposing higher capital requirements and foreign investment caps for new private banks. Dishman Pharma and Indraprastha Gas are expected to report quarterly growth while results for Ranbaxy, SBI and Tata
The document provides an analysis of the Indian stock market and various company results from May 3, 2010. It summarizes that domestic indices closed with small gains, while global indices declined. It reviews auto sales numbers that showed growth for Maruti Suzuki and declines for others. It also summarizes results for several companies, including declines for ABB India and India Cements but growth for Gateway Distriparks and IRB Infrastructure.
The key points from the document are:
1) The Indian stock market indices reversed early gains and ended lower on worries that interest rates may be raised again in September.
2) Reliance Industries signed an agreement to acquire a 60% stake in shale gas assets in Pennsylvania from Carrizo Oil & Gas for $392 million.
3) KEC International won new orders worth Rs. 250 crore for transmission and substation projects in India and abroad.
The key Indian stock market indices extended gains, led by rallies in index heavyweights RIL and ICICI Bank. Gains in European stocks and higher US futures also supported investor sentiment. Small and mid-cap stocks outperformed the benchmarks. In company news, Crompton Greaves acquired three businesses from Nelco, while Madhucon Projects won orders worth Rs. 1,198 crore. Several companies reported quarterly results, with earnings at Ashok Leyland, Cadila, and C&C Construction beating estimates.
1) The key Indian stock indices ended higher, with the Sensex gaining 0.6% and Nifty gaining 0.6% led by gains in metal and auto stocks.
2) India may consider buying BP's stake in a natural gas field in Vietnam as BP looks to sell assets to raise funds for costs related to the Gulf of Mexico oil spill.
3) BGR Energy Systems secured a Rs17 crore contract from NPCIL for work on a fast breeder reactor project in Kalpakkam, Tamil Nadu.
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 key Indian indices (Sensex, Nifty) closed down 1% due to weakness in Asian and European markets. Mid-cap and small-cap indices fell only slightly.
- Bharti Airtel plans to invest $600 million in its Nigerian operations to capitalize on growth opportunities in that market.
- JSW Steel's quarterly crude steel production grew 14% year-over-year to 1.57 million tons due to rising demand.
The document summarizes the Indian stock market performance on June 28, 2010. It reports that the key indices declined, with Sensex and Nifty closing down 0.9% and 1.0% respectively, due to high selling pressure as investors awaited the outcome of a meeting on fuel price deregulation. The meeting approved deregulating petrol prices and increasing prices of diesel, kerosene and LPG. This decision positively impacted oil and gas companies. The summary provides an outlook for the indices and lists the top gainers and losers for the day.
The document summarizes market performance and outlook for Indian indices and stocks. It reports that key Indian indices declined 0.2-0.9% due to weakness in Asian markets, and provides support and resistance levels for the indices. It also summarizes company results from ABB, GAIL, Larsen and Toubro, and Reliance Communications, and recommends subscribing to an open offer from ABB to increase its stake in its Indian subsidiary.
The document provides an analysis of market conditions in India on May 19, 2010. It summarizes movements in various stock indices, noting that the key indices closed higher for the day. It also reviews company results and an announced merger between ICICI Bank and Bank of Rajasthan. In particular:
1) The BSE Sensex and Nifty indices closed up 0.2% and 0.1% respectively, with mid-cap and small-cap stocks also rising.
2) ICICI Bank announced a merger with Bank of Rajasthan at a valuation of 5.0x times Bank of Rajasthan's book value.
3) The document reviews recent quarterly results from JK Laksh
Dena Bank reported a 28.9% year-over-year increase in net profit for the second quarter of fiscal year 2011, ahead of estimates, driven by better-than-expected operating performance and healthy growth in low-cost deposits. Net interest income grew 93.5% year-over-year due to a substantial improvement in net interest margins from increased CASA deposits and core fee income rose 34.9% year-over-year. While gross NPAs rose slightly, slippages declined and provision coverage improved. The bank plans to receive capital infusions that will boost its capital adequacy ratio.
ACC reported a 77% year-on-year decline in net profit for the third quarter of 2010 due to a substantial fall in realizations coupled with higher operating expenses. Net sales declined 17% yoy while operating profit fell 69% yoy. The company expects demand and realizations to improve going forward following recent price hikes. While maintaining a neutral view, analysts forecast a 2% annual sales growth but declining profits as capacity additions offset falling margins.
Jyoti Structures reported a 16.5% year-over-year increase in revenue to Rs. 564 crore for the first quarter of fiscal year 2011, with net profit growing 18% to Rs. 26 crore. Order intake declined 37% from the previous year due to lower tendering from Power Grid Corporation of India and state utilities. The company maintained an order backlog of Rs. 4,106 crore and expects the backlog to reach Rs. 5,000 crore by the end of fiscal year 2011 as tendering activity picks up. Analysts maintain a buy recommendation on Jyoti Structures due to large growth opportunities in India's power transmission sector and Jyoti
The market summary document provides an overview of the performance of key stock market indices and sectors in India on a given date. It summarizes that the indices opened flat but saw rising momentum over the day, closing near high levels. It also lists the top 5 gaining and losing stocks as well as the best and worst performing sectors for the day. Individual stocks are also analyzed with buy/sell recommendations given based on technical indicators.
The document summarizes key points from Reliance Industries' annual general meeting, including plans to expand refining, petrochemical, and retail operations. RIL announced capacity additions in polyester, new plants for paraxylene and other petrochemical products, and aims to grow retail sales to $10 billion within five years. RIL also discussed priorities in upstream oil and gas exploration and developing a shale gas business, as well as investing in coal, hydro, and nuclear power plants.
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 indices slumped over 1% due to weak global markets and concerns over the Greek economic situation. Metal and banking stocks declined, while some IT stocks like Infosys rose slightly. The market breadth turned weak. Mphasis agreed to acquire Fortify Infrastructure Services to enhance its infrastructure business. The government approved the divestment of 10% of its stake in Steel Authority of India Ltd.
The stock market indices in India slumped on May 5, 2010, extending losses for the second straight day as global stocks fell. The BSE Sensex and Nifty closed down 1.4% each. Several major Indian companies announced positive quarterly earnings or new deals, including cement companies reporting robust year-over-year growth in shipments in April 2010 due to capacity additions and demand. HCL Technologies also signed a new $500 million, 5-year outsourcing deal with pharmaceutical company MSD to provide various IT services.
- The Indian stock market indices declined on June 2, 2010, with the Sensex and Nifty closing down 2.2% and 2.3% respectively, due to weak global cues from a slowdown in Chinese manufacturing growth.
- The report provides analysis of movements in various industry indices and stocks, with some gaining up to 14% while others fell up to 6%.
- United Phosphorus is initiated with a Buy rating based on opportunities for growth in the global $40 billion agricultural chemicals industry as patents expire on large products and the company's attractive valuation compared to peers.
The key Indian stock indices ended lower, extending losses for the second straight day. The BSE Sensex lost 0.4% and the Nifty fell 0.3% while the mid-cap and small-cap indices rose by 0.3% and 0.5% respectively. Bharti Airtel extended its partnership with Ericsson with a $1.3 billion network expansion contract. IRB Infrastructure achieved financial closure for the remaining two of its road projects worth Rs. 775 crores.
The document discusses market performance and outlook for India on July 21, 2010. Key Indian indices closed down 0.3% as markets reversed early gains. The document provides technical analysis targets and support/resistance levels for the indices. It also summarizes recent quarterly results from Automotive Axles and Sesa Goa, and previews results for several other companies. Market volumes and FII flows are also summarized.
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 key Indian stock market indices edged higher in early trade but then reversed gains and slumped later in the day. The Sensex and Nifty closed down 0.8% and 0.7% respectively due to weak global cues. Tata Motors gained on strong quarterly results while other frontline stocks like Tata Steel and HDFC declined. Midcap stocks like Tata Investment and United Breweries rose over 5% while Educomp and IVRCL Infra lost over 5%. The RBI released a discussion paper proposing higher capital requirements and foreign investment caps for new private banks. Dishman Pharma and Indraprastha Gas are expected to report quarterly growth while results for Ranbaxy, SBI and Tata
The document provides an analysis of the Indian stock market and various company results from May 3, 2010. It summarizes that domestic indices closed with small gains, while global indices declined. It reviews auto sales numbers that showed growth for Maruti Suzuki and declines for others. It also summarizes results for several companies, including declines for ABB India and India Cements but growth for Gateway Distriparks and IRB Infrastructure.
The key points from the document are:
1) The Indian stock market indices reversed early gains and ended lower on worries that interest rates may be raised again in September.
2) Reliance Industries signed an agreement to acquire a 60% stake in shale gas assets in Pennsylvania from Carrizo Oil & Gas for $392 million.
3) KEC International won new orders worth Rs. 250 crore for transmission and substation projects in India and abroad.
The key Indian stock market indices extended gains, led by rallies in index heavyweights RIL and ICICI Bank. Gains in European stocks and higher US futures also supported investor sentiment. Small and mid-cap stocks outperformed the benchmarks. In company news, Crompton Greaves acquired three businesses from Nelco, while Madhucon Projects won orders worth Rs. 1,198 crore. Several companies reported quarterly results, with earnings at Ashok Leyland, Cadila, and C&C Construction beating estimates.
1) The key Indian stock indices ended higher, with the Sensex gaining 0.6% and Nifty gaining 0.6% led by gains in metal and auto stocks.
2) India may consider buying BP's stake in a natural gas field in Vietnam as BP looks to sell assets to raise funds for costs related to the Gulf of Mexico oil spill.
3) BGR Energy Systems secured a Rs17 crore contract from NPCIL for work on a fast breeder reactor project in Kalpakkam, Tamil Nadu.
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 key Indian indices (Sensex, Nifty) closed down 1% due to weakness in Asian and European markets. Mid-cap and small-cap indices fell only slightly.
- Bharti Airtel plans to invest $600 million in its Nigerian operations to capitalize on growth opportunities in that market.
- JSW Steel's quarterly crude steel production grew 14% year-over-year to 1.57 million tons due to rising demand.
The document summarizes the Indian stock market performance on June 28, 2010. It reports that the key indices declined, with Sensex and Nifty closing down 0.9% and 1.0% respectively, due to high selling pressure as investors awaited the outcome of a meeting on fuel price deregulation. The meeting approved deregulating petrol prices and increasing prices of diesel, kerosene and LPG. This decision positively impacted oil and gas companies. The summary provides an outlook for the indices and lists the top gainers and losers for the day.
The document summarizes market performance and outlook for Indian indices and stocks. It reports that key Indian indices declined 0.2-0.9% due to weakness in Asian markets, and provides support and resistance levels for the indices. It also summarizes company results from ABB, GAIL, Larsen and Toubro, and Reliance Communications, and recommends subscribing to an open offer from ABB to increase its stake in its Indian subsidiary.
The document provides an analysis of market conditions in India on May 19, 2010. It summarizes movements in various stock indices, noting that the key indices closed higher for the day. It also reviews company results and an announced merger between ICICI Bank and Bank of Rajasthan. In particular:
1) The BSE Sensex and Nifty indices closed up 0.2% and 0.1% respectively, with mid-cap and small-cap stocks also rising.
2) ICICI Bank announced a merger with Bank of Rajasthan at a valuation of 5.0x times Bank of Rajasthan's book value.
3) The document reviews recent quarterly results from JK Laksh
Dena Bank reported a 28.9% year-over-year increase in net profit for the second quarter of fiscal year 2011, ahead of estimates, driven by better-than-expected operating performance and healthy growth in low-cost deposits. Net interest income grew 93.5% year-over-year due to a substantial improvement in net interest margins from increased CASA deposits and core fee income rose 34.9% year-over-year. While gross NPAs rose slightly, slippages declined and provision coverage improved. The bank plans to receive capital infusions that will boost its capital adequacy ratio.
ACC reported a 77% year-on-year decline in net profit for the third quarter of 2010 due to a substantial fall in realizations coupled with higher operating expenses. Net sales declined 17% yoy while operating profit fell 69% yoy. The company expects demand and realizations to improve going forward following recent price hikes. While maintaining a neutral view, analysts forecast a 2% annual sales growth but declining profits as capacity additions offset falling margins.
Jyoti Structures reported a 16.5% year-over-year increase in revenue to Rs. 564 crore for the first quarter of fiscal year 2011, with net profit growing 18% to Rs. 26 crore. Order intake declined 37% from the previous year due to lower tendering from Power Grid Corporation of India and state utilities. The company maintained an order backlog of Rs. 4,106 crore and expects the backlog to reach Rs. 5,000 crore by the end of fiscal year 2011 as tendering activity picks up. Analysts maintain a buy recommendation on Jyoti Structures due to large growth opportunities in India's power transmission sector and Jyoti
The market summary document provides an overview of the performance of key stock market indices and sectors in India on a given date. It summarizes that the indices opened flat but saw rising momentum over the day, closing near high levels. It also lists the top 5 gaining and losing stocks as well as the best and worst performing sectors for the day. Individual stocks are also analyzed with buy/sell recommendations given based on technical indicators.
Hindustan Zinc reported lower than expected quarterly results, with net revenue of Rs1,951cr and net profit of Rs891cr, both below estimates. Revenue grew 29% year-over-year due to higher metal prices but fell 22% quarter-over-quarter due to lower production from mines and maintenance work. Margins expanded modestly to 52.4% as increased costs offset the revenue growth. The analyst maintains a Buy rating based on expansion projects and potential takeover of remaining government shares.
The document provides a summary of derivative market activity in India for August 23, 2010. Key points include:
- Nifty futures open interest increased 0.81% while Mini Nifty interest decreased 0.71% as the market closed at 5530.65.
- Nifty August futures closed at a discount of 8.10 points and September futures closed at a discount of 0.05 points.
- Put-call ratio for Nifty increased to 1.65 from 1.60. Implied volatility of at-the-money options decreased to 11.50% from 12%.
- Total open interest in the market was Rs. 1,90,972 cr and stock futures open interest was Rs.
The market summary provides an overview of the day's trading activity in the Indian markets. The key indices, Nifty and Sensex, opened flat but surged late in the day to close with small gains of 0.40% and 0.32% respectively. On the sectoral front, healthcare and FMCG gained over 1% while technology saw losses. Top gainers were led by Kotak Bank and top losers by Bharti Airtel. The document also provides key stock pivots and recommends some stocks with positive and negative bias for the next 2-3 days.
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 document provides a technical market summary for August 23, 2010 including indices levels, top gainers and losers, sectoral performance, and a technical analysis. It notes that upside momentum is likely to continue based on weekly charts, and advises going long on declines between 5470-5400 levels with a stop loss of 5340 for a target of 5700-5750. Key support and resistance levels are also provided for various stocks.
Indoco Remedies reported financial results for 4QFY2010 that were above estimates. Net sales grew 28% year-over-year to Rs108.9 crore, driven by 24.5% domestic growth and 34.2% export growth. Operating margins of 10.1% were below expectations due to higher raw material costs. Net profit doubled to Rs8.2 crore. For FY2011, the company plans Rs95 crore in capital expenditures and expects sales growth of 14-28% and operating margins of 18-19%. The analyst maintains a Buy rating with a target price of Rs487.
Madras Cements reported a 9% year-over-year decline in net revenue to Rs. 700 crore for the first quarter of FY2011, mainly due to a 10.7% fall in cement prices. Operating profit declined 33% to Rs. 196 crore as operating margins contracted by 983 basis points to 27.9% due to higher fuel costs and lower prices. Net profit declined 48% to Rs. 73 crore for the quarter. Despite the decline in revenue and profits, the company maintained a buy rating based on an expected recovery in prices and continued presence in high-growth southern markets.
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.
Mahindra and Mahindra (M&M) reported quarterly results that beat expectations. Net sales increased 19.2% year-over-year to Rs. 5,434 crore, supported by a 21% growth in core volumes. Operating performance and profit also exceeded forecasts due to better operating leverage and higher other income. EBITDA margins were 16.5%, ahead of estimates. Net profit grew 7.9% to Rs. 758 crore, driven by strong operating performance and higher other income. Overall, healthy volume growth and better cost management supported M&M's financial performance in the quarter.
The Finance Ministry presented the new Direct Tax Code Bill, which rolls back many of the radical changes proposed in the original discussion paper. Some key changes include a marginal corporate tax rate reduction to 30%, continuing profit-based MAT at 20%, and increasing certain individual income tax slabs but not as much as originally proposed. Overall the new bill does not introduce major reforms and remains similar to the existing tax system.
The document provides a market summary for the day including:
- Index levels for Sensex and Nifty which opened flat but closed marginally higher
- Top 5 gainers and losers by percentage
- Sectoral performance for the day
- Pivot levels for various stocks
- A technical analysis indicating the indices may test resistance levels if they trade above certain thresholds, and support levels if they fall
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.
Colgate reported a modest 13% revenue growth for the quarter, which was 2% below estimates, driven by a 12% volume growth in toothpaste. Earnings growth of 11.8% missed estimates by 3% due to a spike in staff costs and higher tax rate. Operating margins expanded by 82 basis points to 20.3% due to higher gross margins and lower advertising spend. The report maintains a Reduce rating on Colgate, with a target price of Rs 820 based on 22x FY2012 EPS, citing expensive valuations and risks to earnings growth from higher taxes and competition.
Tata Motors reported a 32.4% year-over-year growth in total volumes in August 2010. Nano volumes declined 10% month-over-month. Maruti Suzuki registered a 23.6% year-over-year increase in sales to 104,791 units, with domestic sales up 32.5%. Mahindra & Mahindra's total sales grew 28.1% year-over-year to 42,338 units, with tractor exports increasing 102.5% year-over-year.
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 indices declined slightly, reacting to volatility in European markets. Weak monsoon reports also weighed on sentiment. Tata Motors reported a 46% rise in global sales for June 2010 driven by strong demand. Sun Pharma received a favorable ruling in a US court case regarding its plans to acquire Taro Pharmaceutical. Axis Bank and TCS reported quarterly results that exceeded estimates, while Colgate-Palmolive's results met estimates with margin expansion.
The Indian stock market indices saw modest gains on Thursday as worries about European sovereign debt eased. The Sensex and Nifty closed with gains of 0.9% and 0.8% respectively, while mid and small cap indices underperformed. Selected pharma, auto and metal stocks rose, while IT and banking stocks declined slightly. Sun Pharma received FDA approval for a generic drug and Bajaj Hindusthan announced plans to merge a subsidiary. Analysts believe the market may see further gains if indices remain above certain support levels early in the trading session.
The Indian stock market indices rose on Thursday as worries about European sovereign debt declined. The Sensex and Nifty closed with gains of 0.9% and 0.8% respectively, while mid and small cap indices underperformed. Sun Pharma received approval to launch a generic version of Keppra in the US. Bajaj Hindusthan announced plans to merge a subsidiary to realize operational synergies. The report provides analysis of market movements and notable corporate news items.
The Indian markets opened weak following declines in overnight US and Asian markets, and continued drifting lower through the day. Data showed a slowdown in the Chinese economy stalled recent global market rallies. Most major Indian indices closed down around 1%, though mid and small-cap indices outperformed. Cement companies reported lackluster June dispatch numbers due to weak infrastructure demand and the arrival of the monsoon season. Auto sales numbers for June were also reported.
The document summarizes market conditions in India on June 7, 2010. It reports that domestic indices opened lower but recovered during the day, with the Sensex and Nifty closing up 0.6% and 0.5% respectively. Global markets were mostly lower, with the Dow Jones down 3.2%. The Finance Minister directed listed companies in India to have a minimum 25% public shareholding over 3 years. This aims to widen investor participation and improve price discovery. Around 190 companies will need to increase public ownership from current levels.
The document provides an analysis of the Indian stock market on April 13, 2010. It summarizes the performance of key indices, noting slight losses for the Sensex and Nifty, while mid and small cap indices were mixed. Top gainers and losers among stocks are listed. The outlook predicts the trend levels for the day and potential trading ranges. News briefs discuss updates on construction companies Simplex Infrastructure and orders secured by IVRCL and HCC.
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 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 market indices in India declined slightly on July 15, 2010. The Sensex fell 0.3% and the Nifty declined 0.3% as European stocks declined and US index futures pared gains in late trade. Most sectoral indices also ended lower, with the exception of banking stocks. Larsen & Toubro was awarded a major metro rail project in Hyderabad. Piramal Healthcare agreed to sell its diagnostic business to Super Religare Laboratories. Several companies announced quarterly results or were scheduled to announce results during the day.
The document summarizes market performance and news from India on April 15, 2010. Most domestic indices closed lower, with the Sensex and Nifty down 0.2% and 0.3% respectively. Capital goods, auto, banking and metal stocks performed poorly while IT stocks rose. Ranbaxy voluntarily recalled two batches of antibiotics from the US market and McNally Bharat Engineering was initiated with a buy recommendation based on attractive valuations and growth prospects in core sectors.
The key points from the document are:
1) Domestic indices tumbled over 1% as global stocks fell on concerns over the spreading eurozone debt crisis.
2) High intraday volatility was seen in the market as it reacted to disappointing industrial production growth data and reports of a cabinet reshuffle.
3) Infosys reported a 4.3% rise in quarterly revenue but margins declined due to wage hikes, while its full-year revenue guidance remained unchanged.
The Indian stock market indices witnessed losses of 2% on June 8, 2010. Mid-cap and small-cap indices outperformed but still ended lower by 1.4%. Banking and metal stocks pulled the markets down, while some recovery was seen in real estate and telecom stocks. An expert panel meeting was deferred on deregulating fuel prices, dampening prospects for oil marketing companies. Infrastructure company Sadbhav Engineering secured two new orders worth $15 million.
The key Indian stock market indices fell on weak global economic data and concerns over European sovereign debt. The Sensex and Nifty closed down 0.7% and 0.8% respectively. Metals and banking stocks witnessed heavy losses, while oil and gas stocks gained slightly. Looking ahead, the market may see further declines if the indices remain below their intraday low levels in early trade, but could rally if those levels are surpassed.
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 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 Indian stock market indices extended their losses for the third consecutive session on April 16, 2010. The Sensex and Nifty closed with losses of 1% each, while the mid-cap and small-cap indices fell by 0.2% and 0.6% respectively. Select frontline stocks like JP Associates, HUL, and Sun Pharma were up 0-1%, while Reliance Industries, ICICI Bank, ITC, L&T and SBI were down 2-3%. In corporate news, JFE Holdings is reportedly close to buying a 14.1% stake in JSW Steel for Rs. 5,000 crore and AREVA T&D India won contracts worth Rs. 63
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
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...mayaclinic18
Whatsapp (+971581248768) Buy Abortion Pills In Dubai/ Qatar/Kuwait/Doha/Abu Dhabi/Alain/RAK City/Satwa/Al Ain/Abortion Pills For Sale In Qatar, Doha. Abu az Zuluf. Abu Thaylah. Ad Dawhah al Jadidah. Al Arish, Al Bida ash Sharqiyah, Al Ghanim, Al Ghuwariyah, Qatari, Abu Dhabi, Dubai.. WHATSAPP +971)581248768 Abortion Pills / Cytotec Tablets Available in Dubai, Sharjah, Abudhabi, Ajman, Alain, Fujeira, Ras Al Khaima, Umm Al Quwain., UAE, buy cytotec in Dubai– Where I can buy abortion pills in Dubai,+971582071918where I can buy abortion pills in Abudhabi +971)581248768 , where I can buy abortion pills in Sharjah,+97158207191 8where I can buy abortion pills in Ajman, +971)581248768 where I can buy abortion pills in Umm al Quwain +971)581248768 , where I can buy abortion pills in Fujairah +971)581248768 , where I can buy abortion pills in Ras al Khaimah +971)581248768 , where I can buy abortion pills in Alain+971)581248768 , where I can buy abortion pills in UAE +971)581248768 we are providing cytotec 200mg abortion pill in dubai, uae.Medication abortion offers an alternative to Surgical Abortion for women in the early weeks of pregnancy. Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
1. Market Outlook
India Research
June 30, 2010
Dealer’s Diary Domestic Indices Chg (%) (Pts) (Close)
The market opened marginally in red after taking cues from weak Asian indices. BSE Sensex -1.4% (240.2) 17,534
The market continued to slide throughout the session, with expectations of a Nifty -1.5% (77.4) 5,256
slowdown in Chinese economic growth. The market slipped further in afternoon MID CAP -0.7% (46.8) 7,116
session, as weak opening by European indices added to the negative sentiment. SMALL CAP -0.6% (56.2) 9,032
However, the market found support at intraday low in the final session, as
BSE HC -1.0% (55.7) 5,733
investors engaged in value buying. Metal stocks tumbled after the Conference
BSE PSU -0.7% (66.4) 9,452
Board in China corrected down its April 2010 gauge for the outlook of China's
BANKEX -1.5% (159.5) 10,684
economy. The Sensex and Nifty closed with gains of 1.4% and 1.5%,
AUTO -0.8% (70.6) 8,235
respectively. However, BSE mid-cap and small-cap indices fared better as they
fell by just 0.7% and 0.6%, respectively. Among the front-liners, L&T, Bharti METAL -2.7% (411.6) 14,635
Airtel and ONGC were up by nearly 0.2%, while Hindalco, Reliance Comm., OIL & GAS -1.3% (146.2) 10,700
Tata Steel, Reliance Infra and Jindal Steel were down by 3–4%. Among mid- BSE IT -0.8% (40.6) 5,323
caps, Astrazeneca Pharma, TVS Motor, JM Financial, ING Vysya Bank and
IBN18 Broadband were up by 5–20%, while Hathway Cable, Max India, Global Indices Chg (%) (Pts) (Close)
Edelweiss Capital, EID Parry and Rajesh Exports declined by 4–8%. Dow Jones -2.6% (268.2) 9,870
NASDAQ -3.8% (85.5) 2,135
Markets Today FTSE -3.1% (157.5) 4,914
The trend deciding level for the day is 17593 / 5275 levels. If NIFTY trades Nikkei -1.3% (123.3) 9,571
above this level during the first half-an-hour of trade then we may witness a Hang Seng -2.3% (477.8) 20,249
further rally up to 17719 – 17905 / 5315 – 5374 levels. However, if NIFTY Straits Times -1.4% (39.6) 2,830
trades below 17593 / 5275 levels for the first half-an-hour of trade then it may Shanghai Com -4.3% (108.2) 2,427
correct up to 17407 – 17280 / 5217 – 5177 levels
Indian ADRs Chg (%) (Pts) (Close)
Indices S2 S1 R1 R2 Infosys -3.5% (2.2) $59.9
SENSEX 17,280 17,407 17,719 17,905 Wipro -4.5% (0.6) $12.1
NIFTY 5,177 5,217 5,315 5,374 Satyam 0.0% - $5.2
ICICI Bank -4.5% (1.7) $36.3
News Analysis HDFC Bank -3.5% (5.1) $142.4
Four PSU banks announce their base rates
Alembic demerges pharma business Advances / Declines BSE NSE
Refer detailed news analysis on the following page. Advances 1,109 391
Declines 1,804 939
Net Inflows (June 28, 2010)
Unchanged 88 39
Rs cr Purch Sales Net MTD YTD
FII 2,254 1,374 880 10,685 31,253
Volumes (Rs cr)
MFs 707 990 (283) (589) (8,021)
BSE 4,523
FII Derivatives (June 29, 2010) NSE 13,190
Open
Rs cr Purch Sales Net
Interest
Index Futures 1,329 2,788 (1,458) 17,348
Stock Futures 899 1,275 (376) 27,468
Gainers / Losers
Gainers Losers
Price Price
Company Chg (%) Company Chg (%)
(Rs) (Rs)
Aban Offshore 822 4.0 Max India 157 (5.0)
Bajaj Finserv 438 3.1 Aditya Birla 758 (4.8)
Oil India 1,431 2.8 Ultratech Cem 879 (4.8)
Indusind Bank 206 2.7 Hindalco 144 (4.4)
PFC 296 2.7 Balrampur Chini 83 (3.9)
Please refer to important disclosures at the end of this report Sebi Registration No: INB 0109965391
2. Market Outlook | India Research
Four PSU banks announce their base rates
State Bank of India (SBI) has announced its base rate (the minimum lending rate) at 7.5%,
in line with the expected 7.5–8% range. Among other PSU banks, Punjab National Bank,
Bank of Baroda and Union Bank have set their base rate at 8% per year, with effect from
July 1, 2010. All banks are required to announce the base rate on or before July 1, 2010.
Banks with a higher CASA are expected to announce a base rate towards the lower end to
gain market share. There is some apprehension that the base rate system may raise the
effective cost of borrowings for corporates. However, this is unlikely because corporates
have access to multiple sources of funds and, hence, the effective borrowing rates will be
determined by market competition. The other point of note is that banks have been
allowed to change this base rate as required at any point of time over the next six months
till December 31, 2010. This indicates that the RBI has taken an experimental route,
allowing banks to tweak models and parameters over this period to determine the most-
efficient formula, which best responds to changes in the environment, including monetary
policy moves. This would be in line with the RBI’s stated underlying objective of ensuring
lending rates respond more efficiently and predictably to monetary policy changes through
the base rate mechanism compared to the earlier BPLR system. We maintain our positive
view on the sector and our top picks are ICICI Bank, HDFC Bank, Axis Bank, SBI among
large caps and Federal Bank, Dena Bank among midcap banks.
Alembic demerges pharma business
Alembic has announced the demerger of its pharma business into a separate subsidiary
company named Alembic Pharma. The company has proposed to demerge its domestic
formulation, international generic and API businesses, which reported a combined turnover
of Rs1,022cr (90% of total turnover) and PBT of Rs68cr (154% of total PBT) in FY2010, to
the subsidiary company Alembic Pharma. Alembic will retain its Vadodara manufacturing
facility (Penicillin G business—loss of Rs24cr in FY2010) along with the power
infrastructure (16MW used for internal consumption) and land assets at Vadodara (100
acres). Under the arrangement, shareholders of Alembic would receive one equity share of
Alembic Pharma in the ratio of 1:1. The company plans to list Alembic Pharma post the
demerger. The demerger is positive as it would allow the two companies to focus on their
respective core businesses, would insulate pharma business from the price volatility of
Penicillin G business, could attract a distinct set of investors for different businesses and
potentially unlock value of its land bank at Vadodara. The stock is under review.
June 30, 2010 2
3. Market Outlook | India Research
Economic and Political News
Rajasthan Electronics & Instruments Ltd., a JV of the Central and Rajasthan government,
received Rs300cr order to set up solar power packs in Rajasthan
Safeguard duty on soda ash imports extended
National Advisory Council meet likely to meet Food Security Bill
Corporate News
Uflex to invest Rs1,150cr in two years on capacity expansion
ONGC to sign 17 new oil and gas block contracts
Vascon Engg. to develop over 10mn sq. ft. in FY2011
Pantaloon Retail allots 1cr warrants to promoters
Source: Economic Times, Business Standard, Business Line, Financial Express, Mint
Events for the day
Gateway Distriparks Dividend, Results
June 30, 2010 3
4. Market Outlook | India Research
Research Team Tel: 022-4040 3800 E-mail: research@angeltrade.com Website: www.angeltrade.com
DISCLAIMER
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision. Nothing in
this document should be construed as investment or financial advice. Each recipient of this document should make such investigations as they deem
necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document (including the merits and
risks involved), and should consult their own advisors to determine the merits and risks of such an investment.
Angel Securities Limited, its affiliates, directors, its proprietary trading and investment businesses may, from time to time, make investment decisions that
are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this document are those of the analyst, and the
company may or may not subscribe to all the views expressed within.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as
opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed to be
true, and is for general guidance only. Angel Securities Limited has not independently verified all the information contained within this document.
Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Securities Limited endeavours to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or passed
on, directly or indirectly.
Angel Securities Limited and its affiliates may seek to provide or have engaged in providing corporate finance, investment banking or other advisory
services in a merger or specific transaction to the companies referred to in this report, as on the date of this report or in the past.
Neither Angel Securities Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection with
the use of this information.
Note: Please refer to the important `Stock Holding Disclosure' report on the Angel website (Research Section).
Address: Acme Plaza, ‘A’ Wing, 3rd Floor, M.V. Road, Opp. Sangam Cinema, Andheri (E), Mumbai - 400 059.
Tel : (022) 3952 4568 / 4040 3800
Angel Broking Ltd: BSE Sebi Regn No : INB 010996539 / CDSL Regn No: IN - DP - CDSL - 234 - 2004 / PMS Regn Code: PM/INP000001546 Angel Securities Ltd:BSE: INB010994639/INF010994639 NSE:
INB230994635/INF230994635 Membership numbers: BSE 028/NSE:09946
Angel Capital & Debt Market Ltd: INB 231279838 / NSE FNO: INF 231279838 / NSE Member code -12798 Angel Commodities Broking (P) Ltd: MCX Member ID: 12685 / FMC Regn No: MCX / TCM /
CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302
June 30, 2010 4