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Daily Newsletter: 15th December, 2010

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Daily Newsletter: 15th December, 2010

  1. 1. December r 15, 2010 Volume: 1 | Issue: 389| November 1, 2010 INDIAN MARKET 14-Dec 13-Dec % Change COMMENTARY BSE Sensex 19,799 19,691 0.55 INDIA NSE Nifty 5,944 5,908 0.62 The main stock indices have accelerated in late afternoon trade with the BSE Sensex and the NSE Nifty BSE Midcap 7,651 7,537 1.51 touching their highs for the day. The broader market continued to outperform the frontline peers. The BSE Smallcap 9,283 9,135 1.61 BSE benchmark Sensex ended the session on Tuesday with a gain of 108 points at 19,779 on buying by Nifty Junior 12,142 11,968 1.45 funds and retail investors in consumer durables, metal, realty and oil & gas stocks amid a mixed trend in CNX Midcap 8,743 8,635 1.25 the Asian markets. The wide-based NSE index Nifty was up by 0.62%.The BSE Small-cap index and the BSE Mid-cap index are up 1.6% and 1.5% respectively. GLOBAL MARKETS 14-Dec 13-Dec % Change The market breadth is positive on the BSE with 1,939 shares rising and 916 shares falling. Dow Jones Ind (USA) 11,477 11,429 0.42 Nasdaq Composite(USA) 2,627 2,624 0.11 GLOBAL MARKETS S&P 500 (USA) 1,241 1,240 0.10 U.S. stocks eased off earlier gains but finished higher Tuesday, as investors found little reason to jump FTSE 100 (UK) 5,884 5,861 0.39 into the fray after the Fed kept rates steady and left its bond-buying plan alone. The Dow Jones DAX (Germany) 7,027 7,030 (0.03) industrial average closed up 48 points, or 0.4%, to finish at 11,476.54, the highest closing price since Nikkei 225 (Tokyo) 10,317 10,294 0.22 September 2008. The S&P 500 and the Nasdaq briefly drifted into negative territory during the last hour Hang Seng (Hong Kong) 23,377 23,317 0.26 of trade but also ended with gains. The S&P 500 rose 1 point, or 0.1%, and the tech-heavy Nasdaq added Shanghai Comp (China) 2,927 2,923 0.14 3 points, or 0.1%. KOSPI (South Korea) 2,009 1,997 0.62 Asian Markets are trading on a mixed note. The Nikkei is up by 0.03%, while the Hang Seng is down by STI (Singapore) 3,184 3,183 0.04 0.3% MSCI Emerging Market 428 426 0.54 MSCI Frontier Market 588 585 0.58 BOND MARKETS 14-Dec 13-Dec Change CORPORATE/ ECONOMY NEWS 10yr G-Sec Yield 7.96 8.12 (0.16) The Munjal family is set to acquire Honda Motors’ 26% stake in their joint venture Hero Honda 1yr G-Sec Yield 7.27 7.27 0.00 Motors for around $1 billion or half the current value of the stake in the stock market. LIBOR (6m) 0.46 0.46 0.00 LIBOR (1m) 0.25 0.26 (0.01) The Ratan Tata-led Tata Motors plans to invest around Rs 400 crore to develop a new set of fuel- Interbank Call rate 6.6 6.7 (0.06) efficient engines for its light commercial vehicles (trucks), which would help increase its sales in overseas markets. LIC Housing Finance, the mortgage arm of the country's largest insurance firm LIC, said its BSE Turnover Rs Cr('000) Sensex 20000 5.0 shareholders have approved a stock split in the ratio of 1:5 as part of its plan to improve the liquidity of its scrip. 19800 4.0 19600 The UK's leading telecom giant British Telecom (BT) completed the sale of 5.5 per cent stake in 3.0 19400 Indian IT firm Tech Mahindra to the latter's parent group Mahindra & Mahindra for Rs 451 crore 2.0 19200 GlaxoSmithKline said that it had agreed to buy protein drinks firm Maxi nutrition for 162 million 19000 1.0 pounds ($256 million) from its private-equity owners to complement its Lucozade sports drinks 18800 0.0 franchise. 8-Dec 9-Dec 10-Dec 13-Dec 14-Dec The country's largest power producer NTPC evinced interest in picking up 76 per cent stake in Patratu and Tenugh. State-owned Neyveli Lignite Corporation (NLC) is scouting for a joint venture partner to acquire coal NSE Turnover Rs Cr('000) Nifty 6000 20 blocks abroad. 5950 5900 15 State-run NMDC’s proposed joint venture with Russia’s Severstal will give the foreign company direct 5850 access to the Indian steel market, considered the world’s second fastest growing after China, while also 10 diversifying the local mining company into steelmaking to boost revenues. 5800 5750 5 Aventis Pharma, the Indian arm of Sanofi Aventis , is exiting its joint venture Chiron Behring Vaccines 5700 by selling its 49% to the other partner Novartis and will buy the stake in the rabies vaccine venture for 5650 0 $22.4 million. 8-Dec 9-Dec 10-Dec 13-Dec 14-Dec Power Grid Corp of India said that its board had on December 13 approved investing Rs 5,540 crore on five projects across the country. `
  2. 2. December 15, 2010 Volume: 1 | Issue: 389| November 1, 2010 SECTOR 14-Dec 13-Dec % Change CORPORATE NEWS Consumer Durables 6,207 6,018 3.14 Shareholders of Vedanta Resources Plc have approved the proposed acquisition of Metal 16,588 16,327 1.60 majority stake in Cairn India for up to $9.6 billion. PSU 9,461 9,370 0.97 Realty 2,845 2,818 0.95 The country’s largest power producer NTPC has said that it would pick up 76 per cent Capital Goods 15,449 15,307 0.93 equity each at two thermal power projects in Jharkhand. Oil&Gas 10,658 10,561 0.92 Healthcare 6,633 6,582 0.77 The country’s second largest two-wheeler manufacturer TVS Motor Company plans Teck 3,769 3,744 0.64 to ramp up its manufacturing facility at Hosur in Tamil Nadu as part of meeting the IT 6,302 6,272 0.48 “huge” demand for its scooterette Wego. Power 2,948 2,935 0.42 Bankex 13,140 13,091 0.37 Bajaj Auto, India's second largest two-wheeler maker, will raise prices across its range FMCG 3,567 3,556 0.31 of motorcycles by up to Rs 1,000 starting January 2011. Auto 9,961 9,981 (0.20) Battery maker Eveready Industries said that it has increased the prices of some of its products by up to 9 per cent due to high input cost. India’s largest IT services provider Tata Consultancy Services (TCS), announced that it will implement TCS BaNCS Core Banking solutions at Deutsche Bank as its new core BSE Upper Circuit Breakers banking platform. Company Name 14-Dec 13-Dec % Change Rama Newsprint 23.4 19.5 20.00 ITD Cementation India had informed the BSE that in joint venture with its promoter, MSK Projects 101.5 84.6 20.00 Italian-Thai Development Public Company Ltd, one of the contracting firms in South Modi Rubber 93.5 85.0 10.00 East Asia, the company has bagged the letter of acceptance from Delhi Metro Rail Polychem 231.1 210.1 10.00 Corporation for Rs 228 crore contract. 0 KDDL 108.5 103.4 5.00 Power trader PTC India aims to launch an initial public offering of its PTC Financial Services unit in the current fiscal year to end March 2011. The owner of Hero Group is set to buy Honda Motor's 26 per cent stake in joint venture Hero Honda for about $1 billion or half the current market value, an Indian financial daily reported on Tuesday. BSE Lower Circuit Breakers Company Name 14-Dec 13-Dec % Change IGate Corp is planning to acquire a stake in Patni Computer Systems Ltd, according Spectacle Inds 75.6 83.9 (10.00) to a report. The report stated that Patni may announce the transaction this GSS America 157.6 165.8 (5.00) month. IGate may borrow to fund the acquisition. Shristi Infra 261.8 275.6 (5.00) Midfield Industries 167.5 176.3 (5.00) Eton Park Capital Management has agreed to invest up to US$125mn in acquiring a NCL Research 48.5 51.1 (5.00) 10% equity stake in JSW Infrastructure Ltd.JSWIL is exploring various opportunities to develop and related infrastructure in various parts of the country in order to service both the captive cargo requirement of the Jindal Group and for expanding its third party business activities. The company is also in the process of setting up a shipyard and ship repair facility at Dhabol. New Holland Fiat India has won a large order for agricultural equipment from A2Z Maintenance & Engineering Services. A2Z is one of the country’s fast-growing enterprises operating in power generation and distribution services, renewable energy and solid waste management. This order marks the beginning of a wider initiative, led by A2Z in cooperation with New Holland, that will offer Indian farmers a viable alternative to burning paddy straw by using crop residues for power generation. COMMODITY 14-Dec 13-Dec % Change COMMODITY / CURRENCY NEWS Crude Oil (USD/bbl) 88.5 88.5 (0.05) Gold (Rs/10gm) 20,614.0 20,563.0 0.25 Silver (Rs/kg) 44,530.0 44,362.0 0.38 Light Sweet Crude Oil on Tuesday was down by 0.05% at $88.5 per barrel. Gold closed up by 0.25 % at Rs 20,614 and Silver closed up by 0.38 % at Rs. 44,530. CURRENCY 14-Dec 13-Dec % Change INR / USD 44.95 45.12 (0.38) The Indian Rupee closed higher against the dollar at 44.95 as the Indian equity USD / Euro 1.33 1.33 - benchmarks ended on positive note. Yen / USD 83.54 83.54 -
  3. 3. December 15, 2010 Volume: 1 | Issue: 389| November 1, 2010 FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY NEWS Sun Pharma 452.5 456.8 0.96 Continuing with its trend towards moderation, inflation declined to 7.48 per Sterling BioTech 100.6 101.45 0.90 cent in November, mainly boosted by lowering of pressure on certain food Apollo Tyre 63.9 64.45 0.86 items. In October, the inflation stood at 8.58 per cent and in November 2009, it Nagarjuna Fertilizers 30.1 30.35 0.83 was at 4.5 p er cent. Dish TV 68.4 68.9 0.80 GMDC 131.9 132.9 0.80 Cotton output in India this year is expected to be around 325-lakh bales. ONGC 1331.9 1298.7 (2.50) Idea 70.2 69.1 (1.64) Murli Deora, Petroleum Minister has reportedly asked PSU oil marketing Concor 1279.0 1259.4 (1.54) companies to raise petrol price by a rupee per litre instead of Rs. 2.50 Core Project 287.4 285.5 (0.66) warranted to offset their loss. The price rise is scheduled from the midnight of Nationalum 373.7 372.8 (0.24) Tuesday-Wednesday. ACC 1063.5 1061.5 (0.19) India has selected 37 companies to build solar power projects, as the country INSTITUTIONAL ACTIVITY (Rs Cr) 29-Nov 26-Nov YTD moves forward with an ambitious plan that seeks to significantly scale up FII Cash Net 2,727 (672) 1,27,758 production from near zero to 20 gigawatts by 2022. Lanco Infratech , KVK FII Stock Futures 526 359 (13,964) Energy Ventures Pvt Ltd and Rajasthan Sun Technique Energy Pvt Ltd won bids FII Index Futures 400 168 (13,257) for a maximum project capacity of 100 megawatts each, according to Mutual Fund (49) 235 (29,677) documents posted on the website of NTPC Vidyut Vyapar Nigam Ltd. VALUATIONS P/E P/B DIV YLD BSE 22.8 3.7 1.1 NSE BSE500 Mcap/GDP Ratio 0.64 MOVERS & SHAKERS 4.91 TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs % Sterlite Inds 170.65 3.46 Prakash Inds 116.15 10.51 MSK Projects 101.5 19.98 Reliance Infra 833.1 2.67 Financial Tech 905.55 7.59 SE Investments 28.15 15.84 Tata Steel 645.5 2.33 Hindustan Oil 207.05 6.53 Eveready Inds 59.25 14.05 Tata Motors 1303.8 2.19 Glodyne Tech 791.65 6.43 QUADRANT 6.15 11.41 SBI 2792.7 1.66 Gujarat State Fert 339.85 6.39 Dynamatic Tech 1286.3 11.11 TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs % Hero Honda 1713.85 -3.3 Money Matters 185.85 -4.98 Spectacle Inds 75.55 -9.95 Jindal Steel 687.55 -1.41 Shree Ashtavina 14.45 -4.93 Sequent Scientific 90.5 -6.46 Mahindra & Mahindra 757.6 -1.34 KGN Inds 208 -3.26 Sahara One 141 -5.31 Hindustan Unilever 297.9 -0.77 Gujarat NRE Coke 55.45 -2.46 Vakrangee Soft 254.8 -5.3 Maruti Suzuki 1413.55 -0.52 Mahindra Lifesp 388.25 -1.82 Surana Inds 286.1 -5.03 BULK DEALS SCRIPT NAME CLIENT NAME TYPE QTY % PRICE NSE ABG Shipyard Abg International BUY 1.56% 360.2 Ambika Cotton Mills Aum Securities BUY 0.67% 180.7 K S Oils Baghmar Finlease BUY 0.80% 34.7 Amar Remedies Wishbone Global Investment Holdings SELL 1.23% 99.1 Development Credit Bank Pace Stock Broking Services SELL 1.65% 51.3 BSE ACC Ambuja Cement India BUY 2.50% 1074.95 Amtek India Olympia Builders BUY 1.23% 59.3 Master Trust Gala Finance And Investment BUY 1.20% 71.6 Tutis Tech Prime Dprime Dyes & Chemicals SELL 1.69% 22.41 Rama Newsprint Shweta Vanijya SELL 1.58% 17.55

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