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Daily Newsletter: 20th December, 2010

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Daily Newsletter: 20th December, 2010

  1. 1. December 20, 2010 Volume: 1 | Issue: 389| November 1, 2010 INDIAN MARKET 16-Dec 15-Dec % Change COMMENTARY BSE Sensex 19,865 19,648 1.11 INDIA NSE Nifty 5,949 5,892 0.97 Aggressive buying in IT, banking and select metal stocks led to a sharp late rally in the markets. Earlier in BSE Midcap 7,568 7,544 0.32 the day, the markets after a subdued start, exhibited choppy movement ahead and post RBI mid-term BSE Smallcap 9,184 9,139 0.49 policy review. The Reserve Bank of India (RBI) in its mid-term policy review today, kept the Cash Reserve Nifty Junior 11,991 11,960 0.26 Ratio and repo rates unchanged, and in a surprise move reduced the Statutory Liqudity Ratio (SLR) by CNX Midcap 8,665 8,631 0.39 1%. The cut in SLR seems to be a positive from the RBI Policy. The Sensex closed at 19,865, up by 1.1%, while the Nifty ended at 5,949, up by 1%. The Mid-Cap & Small-Cap indices too ended in the green. GLOBAL MARKETS 17-Dec 16-Dec % Change The market breadth was very positive. Of the total 3012 stocks traded on the BSE, 1534 stocks had Dow Jones Ind (USA) 11,491 11,498 (0.06) advanced while 1314 had declined. Nasdaq Composite(USA) 2,642 2,637 0.19 S&P 500 (USA) 1,243 1,242 0.08 GLOBAL MARKETS FTSE 100 (UK) 5,781 5,881 (1.70) U.S. stocks ended little changed on Friday, hovering at two-year highs hit in the previous session, as DAX (Germany) 6,982 7,023 (0.58) President Obama signed a tax-cut plan into law. The Dow Jones industrial average ticked down 7 points; Nikkei 225 (Tokyo) 10,303 10,310 (0.07) the S&P 500 edged up 1 point and the Nasdaq rose 6 points, or 0.2%. For the week, the major indexes Hang Seng (Hong Kong) 22,714 22,668 0.20 each gained less than a percent. Shanghai Comp (China) 2,894 2,898 (0.14) Asian markets have opened in the red, with the Nikkei down by 0.24% & the Hang Seng down by 0.03%. KOSPI (South Korea) 2,026 2,009 0.85 STI (Singapore) 3,153 3,148 0.16 MSCI Emerging Market 423 422 0.33 MSCI Frontier Market 589 590 (0.10) BOND MARKETS 16-Dec 15-Dec Change CORPORATE/ ECONOMY NEWS 10yr G-Sec Yield 8.09 8.09 0.00 State-run power producer NTPC may approach the government next fiscal for permission to raise funds 1yr G-Sec Yield 7.34 7.33 0.01 through a follow-on public offer to part-finance power equipment purchases worth an estimated Rs LIBOR (6m) 0.46 0.46 0.00 1,50,000 crore. LIBOR (1m) 0.26 0.25 0.01 Interbank Call rate 6.8 6.7 0.07 The oil ministry may seek a legal opinion on Cairn Energy Plc's conditional applications seeking approval for the sale of a majority stake in its Indian unit to Vedanta Resources. Videocon Industries Ltd, India’s biggest consumer-electronics maker, plans to combine its energy BSE Turnover Rs Cr('000) Sensex assets and sell a stake in the business to help pay debt and fund purchases of oil and gas areas. 19900 6.0 19800 5.0 The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company 19700 4.0 owned by Pramod and Vinod Mittal. 19600 3.0 Crisil, in a statement today, has reaffirmed its rating of 'AAA/FAAA/Stable/P1+' on Hero Honda's debt 19500 2.0 programmes terming it as 'stable'. The rating agency said that it believes that Hero Honda will retain its 19400 1.0 robust business risk profile and financial risk profile over the medium term. Crisil, however, said that the rating could be downgraded to 'negative' if the two-wheelers company market share declines or if there 19300 0.0 is a sharp decline in its profitability. 10-Dec 13-Dec 14-Dec 15-Dec 16-Dec Sanofi-Aventis and Oxford University have entered into an agreement with INDOX, an academic oncology network to conduct oncology clinical and translation research in India. NSE Turnover Rs Cr('000) Nifty Private air carrier Kingfisher Airlines today said it has signed a frequent flyer agreement with British 5960 20 5940 Airways (BA). Under the tie-up, frequent flyers on Kingfisher Airlines would be able to earn points even 5920 15 when they fly on British Airways flights across its network & vice versa. 5900 88.38 #DIV/0! 5880 10 With Wen Jiabao promising to remove trade barriers to Indian goods, the Tata Group today said it is 5860 looking to expand its businesses in Asia's largest economy, which accounted for about 6 per cent of its 5840 5 overall turnover in the previous fiscal. 5820 5800 0 ONGC, announced issue of three more shares against one through a stock split and a bonus share issue, 10-Dec 13-Dec 14-Dec 15-Dec 16-Dec prior to the company’s follow-on public issue in March. The company also decided to pay a special interim dividend of Rs 32 a share `
  2. 2. December 20, 2010 Volume: 1 | Issue: 389| November 1, 2010 SECTOR 15-Dec 14-Dec % Change CORPORATE NEWS IT 6,577 6,399 2.79 Bharti Airtel added 3.10 million new users in November, taking its total subscriber TECk 3,899 3,817 2.16 base to 149.39 million, data released by the Cellular Operators Association of India BANKEX 12,959 12,723 1.86 (COAI) showed. Idea added 2.80 million users during the month to take its total user METAL 16,620 16,404 1.32 base to 78.82 million, while Aircel added 1.21 million customers to take its REALTY 2,772 2,745 0.98 subscriber base to 48.73 million. CD 6,091 6,059 0.52 PSU 9,383 9,346 0.39 After over a year of speculation and hectic negotiations, the Munjals today HC 6,559 6,537 0.33 announced the termination of its 26-year-old joint venture (JV) with Japanese auto OIL&GAS 10,675 10,648 0.26 major Honda in the world’s largest two-wheeler company, Hero Honda. AUTO 9,891 9,874 0.17 FMCG 3,544 3,540 0.09 Kinetic Group, along with their JV partner Ducati Energia of Italy has introduced POWER 2,932 2,932 (0.02) new Electronic Fuel Injection system for two wheelers. It enhances the performance CG 15,333 15,377 (0.29) and reduces emissions in compliance with BS III /EURO III standards. VA Tech Wabag Ltd, a water and waste water management firm, has bagged a Rs 170-crore order from Oman-based Majis Industrial Services SAOC. The company has formed a 60:40 joint venture with Nargarjuna exclusively for the project. BSE Upper Circuit Breakers SRM Energy plans to set up a 2,000 MW power plant in Tamil Nadu. The project is Company Name 16-Dec 15-Dec % Change valued at $1.4 billion, for which the company has signed a Letter of Intent (LOI) with Money Matters 185.4 176.6 5.00 China Datang Technologies & Engineering Co Ltd (CDTE). Karutari Global 19.5 18.6 5.00 Swarna Sec 9.8 9.3 5.00 Future Value Retail, will take its hypermarket chain Big Bazaar to smaller cities of AP in Karimnagar, Nellore, Tirupati, Mahabubnagar, Rajahmundry, Kakinada and Farmax Ind 17.0 16.2 4.90 0 Warangal. Madhusudan Sec 63.9 60.9 4.90 The Union ministry of environment and forests which had issued a showcause notice to Jindal Steel & Power Ltd (JSPL) for revocation of environment clearance, has extended the time for filing of reply by two weeks. Jharkhand government has agreed in principle to form a joint venture with the state- BSE Lower Circuit Breakers run NTPC to raise the capacity of power generation from the state’s Tenughat Vidyut Company Name 16-Dec 15-Dec % Change Nigam Limited (TVNL) at Lalpania in Bokaro district. Wellpack papers 17.4 18.2 (4.80) Spectacle 68.3 71.6 (4.70) Infrastructure Development Finance Company Limited (IDFC) has invested Rs 150 Bheema Cem 44.0 46.2 (4.70) crore in TRIL Infopark, a company floated by Tata Realty and Infrastructure Limited Shree Ashtavinayak 13.1 13.7 (4.50) along with other partners, to develop Ramanujan IT City at Chennai. Sujana Metal 16.2 17.0 (4.50) 3G services by private telecom players Tata Docomo and Reliance Communications do not seem to be striking a chord with users. This, despite both telcos loading their 3G services with a generous dose of free calls and SMSes. A consortium led by Pipavav Shipyard has moved Bombay High Court challenging the legality of ONGC's decision to decline it award of a contract to carry out surveys and various other works of six well head platforms at the Bombay High. COMMODITY 16-Dec 15-Dec % Change COMMODITY / CURRENCY NEWS Crude Oil (USD/bbl) 88.4 88.7 (0.00) Gold (Rs/10gm) 20,492.0 20,643.0 (0.73) Silver (Rs/kg) 44,297.0 44,470.0 (0.39) Light Sweet Crude Oil on Wednesday was up by 0.28% at $88.7 per barrel. Gold closed down by 0.73% at Rs 20,492 and Silver closed down by 0.4 % at Rs. 44,297. CURRENCY 16-Dec 15-Dec % Change INR / USD 45.34 45.40 (0.13) The Indian Rupee closed higher against the dollar at 45.34 as the Indian equity USD / Euro 1.32 1.32 0.20 benchmarks ended on positive note. Yen / USD 84.04 84.17 (0.15)
  3. 3. December 20, 2010 Volume: 1 | Issue: 389| November 1, 2010 FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY NEWS Indusindbk 250.5 278.9 11.34 Food inflation, as measured by the Wholesale Price Index (WPI) inched towards double Jetairways 718.8 796.5 10.81 digits at 9.46 per cent for the week ended December 4, primarily due to rising prices of Ashokley 65.5 71.6 9.40 essential commodities like wheat, rice and vegetables. Pantaloonr 360.3 392.3 8.87 Educomp 513.2 557.5 8.63 After hiking rates six times in a year, the RBI has finally taken a small step towards Kfa 59.3 64.2 8.26 boosting liquidity. Its mid-quarter review on Thursday left policy rates unchanged. It also Ksoils 176.4 160.7 (8.93) reduced the statutory liquidity ratio or SLR by one percentage point to 24%. Coreprotec 103.7 90.0 (13.21) Ispatind 222.1 191.3 (13.87) Civil Aviation Minister Praful Patel today said the airline industry in India has grown by Irb 22.6 18.9 (16.41) 400 per cent in a short span of about six-and-a-half years. He said in 10 years Indian Ruchisoya 292.6 243.2 (16.87) market will be the third largest aviation market after the US and China. Polaris 47.3 34.4 (27.38) IIndian GSM telecom operators added a whopping 17.45 million new subscribers in INSTITUTIONAL ACTIVITY (Rs Cr) 30-Nov 29-Nov YTD November, taking the all-India GSM cellular subscriber base to 526.18 million. FII Cash Net 2,727 2,727 1,27,758 FII Stock Futures 526 526 (13,964) FII Index Futures 400 400 (13,257) Mutual Fund (49) (49) (29,677) VALUATIONS P/E P/B DIV YLD BSE 23.0 3.7 1.1 NSE 23.7 3.8 1.1 BSE500 Mcap/GDP Ratio 0.65 MOVERS & SHAKERS 4.91 TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs % Hero Honda 1,621.30 3.57 Amtek Auto 135.55 6.4 Ashiana Hous 175 13.75 TCS 1,101.25 3.56 Ispat Inds 22.55 6.12 Arvind 63.85 13.41 Infosys 3,203.65 2.77 MAH HOLIDAY 387.45 5.86 Camlin 45.25 13.41 Wipro 457.4 2.71 Gujarat State Fert 349.1 5.18 Aditya Birla Money 36 13.21 Tata Steel 642.5 2.54 Money Matters 185.4 4.98 Asian Hotels (West) 242.5 12.87 TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs % Mahindra & Mahindra 732.6 -2.73 JM Financial 31 -4.91 Kanani Inds 302.2 -7.06 Tata Power 1285.1 -2.33 Graphite India 97.8 -4.86 Splash Media 70.15 -6.4 Hindustan Unilever 294.4 -1.31 Shree Ashtavina 13.1 -4.73 Tilaknagar Inds 83.6 -5.48 Maruti Suzuki 1376.95 -1.23 Nava Bharat Vent 293.75 -4.28 Page Inds 1401.05 -5.06 Bajaj Auto 1456.05 -0.95 Sadbhav Engr 124.65 -4.04 Midfield Industries 151.2 -5 BULK DEALS SCRIPT NAME CLIENT NAME TYPE QTY % PRICE NSE ASHCONIUL Bp Fintrade Private Limited BUY 0.98% 5.8 CINEMAX Union Investment Luxembourg Uniasia BUY 1.07% 53.5 ISPATIND Jaypee Capital Services Ltd. BUY 0.53% 22.4 R.P.P. Infra Projects Ltd 88.38 Crosseas Capital Services Pvt. Ltd. #VALUE! SELL 0.55% 60.8 Talwalkar Fitness Ltd Credit Suisse (Singapore) Limited A/C Credit Suisse (Singap SELL 0.52% 256.6 BSE ABG Shipyard Reliance Mutual Fund BUY 0.60% 367 Amulya Leas Sangeeta Pareeku BUY 0.52% 36.5 Arvind Intl Jmp Securities Pvt Ltd BUY 0.26% 20.56 MOIL LTD Crosseas Capital Services Private Limited SELL 0.64% 465.5 Kinetic Engr Iifl Capital Mumbai Fund SELL 0.48% 163.6

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