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Daily Newsletter: 13th July, 2011

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Daily Newsletter: 13th July, 2011

  1. 1. July 13, 2011 Volume: 1 | Issue: 389| November 1, 2010 INDIAN MARKET 12-Jul 11-Jul % Change COMMENTARY BSE Sensex 18,412 18,721 (1.65) INDIA NSE Nifty 5,526 5,616 (1.60) BSE Midcap 6,898 6,974 (1.09) An extremely eventful day saw the Indian stocks end in deep red, extending the losing streak to a third BSE Smallcap 8,262 8,340 (0.94) straight trading session on Tuesday. The plunge came amid sell-off across global equity markets, on fears Nifty Junior 11,160 11,279 (1.06) that the eurozone debt contagion is spreading to Italy and Spain. In addition, there were media reports that six Spanish banks could have failed to clear the European stress tests. Finally, the BSE Sensex ended at 18,412 CNX Midcap 8,005 8,098 (1.15) losing 310 points. It had earlier touched a day's high of 18,589 and a day's low of 18,326 after opening at 18,534. The NSE Nifty closed at 5,526, losing 90 points. Coming back to domestic scene, the sentiment received a jolt after the industrial production report missed market estimates by a huge margin. IIP growth GLOBAL MARKETS 12-Jul 11-Jul % Change slowed to 5.6% from a downwardly revised 5.8% in April, which was much below the forecast of 8.5% for Dow Jones Ind (USA) 12,447 12,506 (0.47) May. A much-awaited Cabinet reshuffle also failed to lift the markets due to non-significant changes. Nasdaq Composite(USA) 2,782 2,803 (0.74) S&P 500 (USA) 1,314 1,319 (0.44) FTSE 100 (UK) 5,869 5,929 (1.02) GLOBAL MARKETS DAX (Germany) 7,174 7,230 (0.78) Nikkei 225 (Tokyo) 9,925 10,070 (1.43) Global stocks extended the biggest three-day slump since March and the euro weakened as Ireland’s debt rating was cut to junk, adding to signs that Europe’s crisis is spreading. The S&P500 fell 0.4 percent to 1,314 Hang Seng (Hong Kong) 21,663 22,348 (3.06) and is down 2.9 percent in three days. The euro weakened 0.4 percent to a four-month low while sugar, Shanghai Comp (China) 2,755 2,803 (1.72) wheat and corn rose at least 4 percent to lead gains in commodities. KOSPI (South Korea) 2,110 2,157 (2.20) STI (Singapore) 3,077 3,117 (1.28) Asian stocks are up for the first time in three days ahead of China economic growth and industrial MSCI Emerging Market 440 448 (1.79) production reports. Nikkei is up 0.05%, Hang Seng is up 0.42%, Shanghai is up 0.41% and Kospi is trading flat. MSCI Frontier Market 541 547 (1.10) BOND MARKETS 12-Jul 11-Jul Change 10yr G-Sec Yield 8.27 8.32 (0.05) CORPORATE/ ECONOMY NEWS 1yr G-Sec Yield 0.29 0.29 0.00 IT major Infosys reported a 5.2% dip in its net profit at Rs 1,722cr for the quarter ended June 30, 2011, as LIBOR (6m) 0.39 0.39 0.00 against Rs 1,818cr posted in the previous quarter ended March 31, 2011. However, total income rose LIBOR (1m) 0.16 0.16 0.00 12.3% to Rs 7,928cr compared to Rs 7,055cr announced in the previous quarter. On an year-on-year Interbank Call rate 7.48 7.46 0.02 basis, Infosys net profit jumped 15.7% even though it narrowly missed expectations as a surge in wages offset strong demand from western clients. Electrical equipment-maker Havells India said that it plans to double its revenue in the switch gear BSE Turnover Rs Cr('000) Sensex segment to Rs 1,800 crore in the next three years. 19200 4.0 3.5 American health insurance company Aetna International said that it has completed acquisition of 19000 3.0 Indian Health Organization Pvt Ltd (IHO) for an undisclosed amount, marking its foray into the Indian 18800 2.5 market. 18600 2.0 Drug major Ranbaxy said that it has entered into an agreement with US-headquartered Gilead Sciences 18400 1.5 to manufacture and market three new generic HIV/AIDS drugs in India and developing countries. 1.0 18200 0.5 Footwear and apparel brand Woodland said that it would invest over Rs 100 crore in this fiscal to set 18000 0.0 up a new manufacturing unit at Greater Noida and open 60 more exclusive stores in the country. 6-Jul 7-Jul 8-Jul 11-Jul 12-Jul UK-listed Cairn Energy said that it has completed the sale of a 10% stake in its Indian entity, Cairn India, to Vedanta Resources for $1.36 billion. NSE Turnover Rs Cr('000) Nifty Reliance MediaWorks, part of billionaire Anil Ambani's group, said on Tuesday it has partnered with 5750 14 Digital Domain Media Group Inc, to expand its visual effects and 3D conversion services. 5700 12 5650 10 The government has set up a target of $14 billion for garments exports in the 2011-12 fiscal as demand 88.38 #DIV/0! is on the rise in the western markets, Textiles Secretary reported. 5600 8 5550 6 World's fifth largest telecoms company Bharti Airtel gave a 10-year contract to tech giant IBM for 5500 4 providing IT solutions to its employees in 16 countries in Africa. 5450 2 5400 0 6-Jul 7-Jul 8-Jul 11-Jul 12-Jul
  2. 2. July 13, 2011 Volume: 1 | Issue: 389| November 1, 2010 SECTOR 12-Jul 11-Jul % Change CORPORATE NEWS PSU 8,469 8,496 -0.32% Non-banking finance company Magma Fincorp reported a 13% decline in net profit at FMCG 4,048 4,061 -0.33% Rs 14.25 crore for the April-June quarter of the current fiscal. The company's profit after OIL&GAS 9,000 9,032 -0.36% tax was Rs 16.40 crore in the first quarter of 2010-11. HC 6,400 6,431 -0.49% POWER 2,580 2,604 -0.93% Madras Cements is in talks with the world's largest and second-largest cement makers BANKEX 12,608 12,741 -1.04% Lafarge and Holcim, respectively, to divest its cement grinding unit in West Bengal, a newspaper reported on Tuesday. Madras Cements, the flagship company of the Ramco METAL 14,456 14,733 -1.88% Group, is looking to sell the unit for about Rs 350 crore, CG 13,550 13,848 -2.15% CD 6,758 6,909 -2.19% ATM maker NCR Corp is to buy Radiant Systems Inc, which makes cash registers and AUTO 8,893 9,097 -2.25% other point-of-sale devices, for about $1.2 billion (approximately Rs 5,300 crore) in cash TECk 3,592 3,680 -2.41% to expand into the hospitality and specialty retail industries. NCR offered $28 a share for REALTY 2,114 2,172 -2.68% Radiant — 31% more than Radiant's last closing price, adding a third vertical to its IT 5,925 6,092 -2.74% business that currently includes finance and retail The Tamil Nadu government has allotted 50 acres of land at Oragadam SIPCOT Industrial Park, near Chennai, to the two-wheeler manufacturer, Eicher Motors for its proposed expansion plans. South Korean power equipment-maker Doosan will set up a power equipment BSE Upper Circuit Breakers manufacturing unit at Chennai, in Tamil Nadu, Power Minister Sushilkumar Shinde said. Company Name 12-Jul 11-Jul % Change ARMAN FINANCIAL SERVICES 20.9 19.0 10.00 Environmentalists criticised the United Nations on Tuesday after it ruled that a large VAS INFRASTRUCTURE 113.0 102.7 10.00 Indian coal-fired power project are eligible to earn carbon credits worth $165 million at INTEC CAPITAL 41.4 37.6 10.00 current prices. Several green organisations said the UN rules, or methodology, applied NEEMTEK ORGANIC PRODUCTS 126.0 120.0 5.00 to the 4,000 MW supercritical plant owned by Reliance Power (RPower) were flawed 0 Enkei Wheels (India) 47.3 45.0 5.00 and that the project was viable without the sweeteners of tradeable carbon credits called certified emissions reductions (CERs). Telecom services provider Bharti Airtel is mulling to list its tower unit, Bharti Infratel, by selling 10% stake to raise around USD 1 billion (nearly Rs 4,500 crore) to fund expansion. Rice exporter Kohinoor Foods (KFL) said the shareholders of the company had BSE Lower Circuit Breakers approved its joint venture (JV) with US-based spice maker McCormick. Company Name 12-Jul 11-Jul % Change AJEL Limited 8.3 9.2 (10.00) Autocomponent manufacturer Ucal Fuel Systems reported a 56 per cent increase on its Emporis Projects Limited 124.5 131.1 (5.00) net profit at Rs 5.51 crore for the second quarter ending June 30, 2011 as against Rs 3.53 MODERN DAIRIES 18.1 19.1 (5.00) crore in the year ago period. The total income for the second quarter grew to Rs 129.13 crore from Rs 109.60 crore registered in the same period of previous year. KUVAM INTERNATIONAL 11.5 12.1 (5.00) GSB FINANCE 7.4 7.8 (5.00) The Tamil Nadu government allotted 50 acres of land at Oragadam SIPCOT Industrial Park, near Chennai, to the two-wheeler manufacturer, Eicher Motor Ltd for its proposed expansion plans. Bank of Baroda (BoB) and Kotak Mahindra Bank on Tuesday announced hiking of lending rates by 25 basis points. Multi-business conglomerate ITC that makes food products under brands such as Sunfeast and Bingo said raw material costs are likely to go up by around 3 per cent in the next 2-3 months, but ruled out any major price hike for consumers. COMMODITY 12-Jul 11-Jul % Change COMMODITY / CURRENCY NEWS Brent Crude Oil (USD/bbl) 117 116 1.07 1.06 Brent Crude Oil was up by 1.07% at $117 per barrel. Gold closed up by 1.06% at Rs Gold (Rs/10gm) 22,695 22,457 22,695 and silver closed up by 0.03% at Rs 53,925. Silver (Rs/kg) 53,925 53,910 0.03 CURRENCY 12-Jul 11-Jul % Change The Indian Rupee closed lower against the dollar at Rs 44.70 as the Indian equity INR / USD 44.70 44.48 0.49 benchmarks ended on a very negative note. USD / Euro 1.39 1.40 (0.71) Yen / USD 70.79 80.63 (12.20)
  3. 3. July 13, 2011 Volume: 1 | Issue: 389| November 1, 2010 FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWS RUCHISOYA 98.5 99.3 0.76 Prime Minister Manmohan Singh have dropped seven ministers, inducted V Kishore MLL 37.5 37.8 0.67 Chandra Deo and seven other new faces, and elevated three others including Jairam RENUKA 70.7 71.1 0.64 Ramesh from whom Environment and Forests has been taken away. However, Singh ALOKTEXT 24.5 24.6 0.61 did not touch the 'big four' — Finance, Home, Defence and External Affairs — but ABB 876.6 881.5 0.56 shifted M Veerappa Moily from Law to Corporate Affairs and brought Salman JPPOWER 45.0 45.3 0.56 Khursheed in his place. TATAMTRDVR 581.5 562.5 (3.27) Trinamool Congress leader Dinesh Trivedi has been elevated to the Cabinet rank and given the Railways portfolio left vacant by Mamata Banerjee after she became West PIRHEALTH 391.0 379.8 (2.85) Bengal Chief Minister. Beni Prasad Verma becomes a Cabinet Minister for Steel, a NAGARFERT 34.6 33.6 (2.75) portfolio he earlier held as Minister of State with independent charge. VIDEOIND 191.3 186.4 (2.59) The other new faces in the Council of Ministers are Jayanthi Natarajan who gets TATACHEM 377.6 368.1 (2.52) Environment and Forests, Dibrugarh MP Paban Singh Ghatowar (DONER), Trinamool IDBI 133.7 131.0 (2.06) Congress leader Sudip Bandopadhyaya (Health and Family Welfare), Alwar MP Jitendra Singh (Home), Milind Deora (Communication and IT) and Rajiv Shukla INSTITUTIONAL ACTIVITY (Rs Cr) 04-Jul 01-Jul YTD (Parliamentary Affairs). FII Cash Net 861 1,185 11,146 Ministers who have been dropped from the Cabinet are MS Gill (Statistics and FII Stock Futures (160) (157) (4,670) Programme Implementation), BK Handique (DONER), Kantilal Bhuria (Tribal Affairs), FII Index Futures 731 (134) 14,842 Murli Deora (Corporate Affairs) and Dayanidhi Maran (Textiles). Mutual Fund (111) 113 3,106 While Maran had resigned last week in the wake of his being named in the 2G scam, Deora had offered his resignation citing old age and had reportedly sought a berth for his son Milind. The new ministers would be sworn in at a function at the VALUATIONS P/E P/B DIV YLD Rashtrapati Bhawan this evening after which the strength of the Council will go up by BSE 19.9 3.5 1.4 one to 68. While there were eight additions, seven have been axed. NSE 20.8 3.5 1.3 BSE500 Mcap/GDP Ratio 0.58 MOVERS & SHAKERS 4.91 TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs % ONGC 281.5 0.32 Anant Raj Inds 84.25 10.42 Savita Oil Tech 681.3 15.24 HUL 332.5 0.17 SKS Microfinance 587.6 8.31 Gammon Infra 16.2 10.28 - - - Wockhardt 417.85 6.07 Clarus Finance 216.6 8.84 - - - Spicejet 35.1 5.72 Timken India 251.75 7.01 - - - Honeywell Auto 2889 3.86 Cals Ref 0.47 6.82 TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs % Infosys 2794.25 -4.27 HDIL 159.7 -5.47 Mudra Lifestyle 31.2 -8.64 DLF 220.35 -3.84 Jain Irrigation 172.25 -5.04 Magma Fin 73.15 -6.99 Mahindra & Mahindra 703.05 -3.02 Shree Renuka Sug 70.7 -4.97 KRBL 30.5 -6.58 Jindal Steel 615.6 -2.99 KGN Inds 57.05 -4.92 IT People 24.1 -6.23 Reliance Infra 563.55 -2.89 Whirlpool 251.7 -4.75 QUADRANT 4.34 -5.86 BULK DEALS SCRIP NAME CLIENT NAME TYPE QTY % PRICE NSE MindTree Limited Coffee Day Resorts Pvt Ltd BUY 5.68% 428.0 MindTree Limited Ashok Soota SELL 5.50% 428.0 Bharat Forge Ltd Barclays Capital Mauritius Limited SELL 0.55% 307.6 Balrampur Chini Mills Balrampur Chini Mills Ltd BUY 0.86% 62.9 Balrampur Chini Mills Barclays Capital Mauritius Limited SELL 0.87% 61.9 BSE Aarey Drugs Thakorlal Atma Ram Modi BUY 1.23% 21.5 ACROPET TEC Oudh Finance & Investment BUY 0.80% 17.0 Zenu Infotech Anuradha Pankaj Dhoot SELL 2.25% 38.0 Tata Coffee A K G Securities And Consultancy Ltd BUY 0.66% 882.2 RCL FOODS Span Stock Broking SELL 0.65% 54.1

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