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Daily Newsletter - October 14, 2011

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Daily Newsletter - October 14, 2011

  1. 1. Oct 14, 2011 Volume: 1 | Issue: 389| November 1, 2010 INDIAN MARKET * 13-Oct 12-Oct % Change COMMENTARY BSE Sensex 16,884 16,958 (0.44) INDIA NSE Nifty 5,078 5,099 (0.42) Indian stock indices ended near day's low on Thursday after a choppy session, on the back of some BSE Midcap 6,156 6,154 0.03 offloading seen in Auto, Capital Goods and Pharma stocks. Earlier in the day, the Sensex fluctuated between BSE Smallcap 6,886 6,882 0.06 gains and losses. After opening in the green, the markets turned choppy on intraday basis before sliding Nifty Junior 9,894 9,869 0.25 towards the close of trade, indicating that every rally is being used by traders to lighten their positions. The CNX Midcap 7,106 7,111 (0.07) index touched a high of 17,084 in the morning session following positive cues from Asia; however, the index received a fresh jolt and touched a low of 16,865 after European markets reversed gains. Among macro data, India's food inflation for the week ended October 1 declined marginally to 9.32 per cent against 9.41 GLOBAL MARKETS 13-Oct 12-Oct % Change per cent a week ago. The street now awaits Friday's WPI inflation data for cues on Reserve Bank of India's Dow Jones Ind (USA) 11,478 11,519 (0.35) policy action on interest rates later this month. The BSE Sensex was unable to sustain 17,000 levels and closed at 16,884, down 75 points. The Nifty ended at 5,077, down 22 points. The overall breadth was Nasdaq Composite(USA) 2,620 2,605 0.60 negative as 1,403 stocks declined for 1,379 stocks which advanced on the BSE. S&P 500 (USA) 1,204 1,207 (0.30) FTSE 100 (UK) 5,403 5,442 (0.71) GLOBAL MARKETS DAX (Germany) 5,915 5,994 (1.33) US stocks fell on Thursday as earnings from JPMorgan and soft economic data in China reinforced worries Nikkei 225 (Tokyo) 8,824 8,739 0.97 about a slowing global economy, giving investors reason to pause after the recent run-up. China's trade Hang Seng (Hong Kong) 18,758 18,329 2.34 surplus, in a reflection of global economic weakness and domestic cooling, narrowed for a second straight Shanghai Comp (China) 2,439 2,420 0.78 month in September as both imports and exports were lower than expected. DJIA closed at 11,478, down KOSPI (South Korea) 1,823 1,810 0.75 0.35 percent and S&P closed at 1,204, down 0.3 percent. STI (Singapore) 2,734 2,738 (0.14) MSCI Emerging Market 358 352 1.70 Asian stocks have fallen, after credit- rating downgrades of Spain and European banks fueled concern the region’s debt crisis will hurt Asian economies and earnings. Nikkei is down 0.7 percent, Hang Seng is down MSCI Frontier Market 480 477 0.56 1.4 percent and Shanghai is down 0.6 percent while Strait Times is trading flat. BOND MARKETS 13-Oct 12-Oct Change 10yr G-Sec Yield 8.71 8.71 0.00 CORPORATE/ ECONOMY NEWS 1yr G-Sec Yield 8.51 8.51 0.00 Food inflation declined marginally, but was still high at 9.32% for the week ended October 1 as prices LIBOR (6m) 0.21 0.21 0.00 of major kitchen staples continued to pinch consumers' pockets. Food inflation, as measured on the LIBOR (1m) 0.16 0.16 0.00 basis of the Wholesale Price Index (WPI), stood at 9.41% in the previous week. The rate of price rise in Interbank Call rate 8.32 8.32 0.00 food items stood at 17.14% in the corresponding week of 2010. The government yesterday decided to hike Infrastructure Finance Company Ltd (IIFCL's) authorised capital to Rs 5,000 crore for enabling it to lend more to the infrastructure sector, funding need for which BSE Turnover Rs Cr('000) Sensex has been pegged at $1 trillion during the next Plan Period (2012-17). A provision has also been made to 17200 3.0 increase it to Rs 8,000 crore, subject to the approval of the Finance Minister, said Information and 17000 Broadcasting Minister Ambika Soni, briefing the media after the Cabinet meeting. 2.5 16800 2.0 Wind power major Suzlon Energy informed the BSE that it has completed the sale of its entire 16600 shareholding in Hansen Transmissions to ZF Friedrichshafen AG for Rs 890 crore. Suzlon held a 26.06% 1.5 16400 stake in Hansen Transmission through its Netherlands-based subsidiary, AE-Rotor Holding BV. 16200 1.0 0.5 Infosys Ltd, India's second-largest software services exporter, said on Thursday it was not in talks to 16000 acquire the healthcare business of Thomson Reuters Corp. 15800 0.0 7-Oct 10-Oct 11-Oct 12-Oct 13-Oct The strike by workers at Maruti Suzuki India's Manesar plant entered its seventh day, with no sign of an end despite the Haryana government declaring it illegal. Tata Steel, the world's No. 7 steelmaker, may cut production further in Europe in the next few months if NSE Turnover Rs Cr('000) Nifty steel orders weaken, Karl-Ulrich Köhler, CEO of Tata Steel in Europe said on Wednesday. 5150 13 The company had already cut production capacity from 85-90% in the first half this year to 80-85% 5100 12 currently, it said. 5050 5000 88.38 #DIV/0!12 Oil Ministry has allocated natural gas from ONGC fields to Reliance Infra, NTPC, National Fertilisers 4950 11 Ltd, according to a report. 4900 11 4850 Hindustan Petroleum Corporation Ltd (HPCL) has agreed to resume supply of aviation turbine fuel 4800 10 (ATF) to Kingfisher Airlines after late night negotiations. 4750 10 7-Oct 10-Oct 11-Oct 12-Oct 13-Oct
  2. 2. Oct 14, 2011 Volume: 1 | Issue: 389| November 1, 2010 SECTOR 13-Oct 12-Oct % Change CORPORATE NEWS BANKEX 10,978 10,865 1.04% Korean auto major Hyundai Motor Co launched entry level compact car Eon that has IT 5,554 5,518 0.65% been developed specifically for the Indian market, at an introductory price of between Rs REALTY 1,852 1,844 0.41% 2.69 lakh and Rs 3.71 lakh (ex-showroom Delhi). TECk 3,366 3,356 0.27% CD 6,695 6,735 -0.60% The government will infuse Rs 4,500 crore to Rs 800 crore ($919.7 million to $1.6 billion) of -0.62% funds in top lender State Bank of India (SBI) by March 2012, D.K. Mittal, secretary of FMCG 3,949 3,973 financial services said on Thursday.nState-run SBI, which accounts for one quarter of PSU 7,488 7,539 -0.68% lending in India, has been reeling under higher provisions for bad loans and lower profits POWER 2,168 2,184 -0.74% in the last two quarters, has since last year sought as much as Rs 20,000 crore from the METAL 11,391 11,477 -0.75% federal government through a rights issue. OIL&GAS 8,726 8,799 -0.83% HC 5,876 5,933 -0.95% Tiles-maker Somany Ceramics said it has signed an MoU to acquire a 26% stake in CG 11,095 11,229 -1.20% Vintage Tiles. AUTO 8,763 8,894 -1.48% Shares of Hathway Cable, Den Networks and WWIL surged on Thursday after the Union Cabinet approved an ordinance for the faster digitisation of cable television distribution networks. The Cabinet Committee of Economic Affairs (CCEA) today approved an ordinance to amend Section 4A of the Cable TV Networks (Regulation) Act. Accordingly, rules to digitize broadcasting by making changes in the Cable TV Networks Act will be amended. BSE Upper Circuit Breakers Company Name 13-Oct 12-Oct % Change Tree House Education and Accessories Limited, a unique company providing pre- Medicamen Bio 33 30 10.00 school and K-12 educational services in India and operating the largest number of self- Sanraa Media 0.1 0.1 10.00 operated pre-schools in the country, is now included in the BSE Small Cap Index post the Fame India 46.3 42.1 10.00 latest quarterly review. Polycon Intl 11.1 10.1 10.00 0 Kajaria Ceramics reported Q2FY12 numbers where its net profit rose 41.89% to Rs. 18.90 Kaira Can 294.1 280.1 5.00 crore on 42.6% rise in net sales to Rs. 316.39 crore in Q2 September 2011 over Q2 September 2010. The Income-Tax Department has raided the premises of Pipavav Shipyard in Mumbai Gujarat and Delhi, according to a report. The report stated that Pipavav has been in the news for a controversial joint venture with state owned Mazgaon Docks for construction BSE Lower Circuit Breakers of vessels for the Navy. The management is providing all necessary information and Company Name 13-Oct 12-Oct % Change cooperating with the officers SKIL has reportedly said that during the searches, officials recovered Rs. 24 lakh in cash from the Malad office of one of the company associates. ZENITH INFOTECH 93.2 103.6 (10.00) Binayak Tex 514.4 541.5 (5.00) VST Industries reported its Q2FY12 numbers where its net profit rose 39.9% to Rs. 33.59 Phyto Chem 10.3 10.8 (5.00) crore on 5.9% rise in net sales to Rs. 165.35 crore in Q2 September 2011 over Q2 Scindia Steam 9.7 10.2 (5.00) September 2010. Bhilwara Spin 7.8 8.2 (5.00) Western India Shipyard announced that it has secured five ship repair orders aggregating Rs. 30 crore. Heavy engineering and manufacturing firm Promac Engineering Industries has bagged three export orders valued at more than $220 million, a top company official reported. Kumar Mangalam Birla seems to have finally agreed to go ahead with the long-awaited merger of the cement business of Century Textiles, owned by his grandfather B K Birla, with UltraTech. COMMODITY 13-Oct 12-Oct % Change COMMODITY / CURRENCY NEWS Brent Crude Oil (USD/bbl) 110 112 (1.65) Gold (Rs/10gm) 26,675 26,842 (0.62) Brent Crude Oil ended lower by 1.65% at USD$110 per barrel. Gold ended lower by 0.62% at Rs 26,675 and Silver closed down by 2.26% at Rs 52,574. Silver (Rs/kg) 52,574 53,792 (2.26) CURRENCY 13-Oct 12-Oct % Change The Indian Rupee closed lower against the dollar at Rs 49.13 as the Indian equity INR / USD 49.13 48.95 0.37 benchmarks ended on a negative note. USD / Euro 1.37 1.37 - Yen / USD 76.85 76.94 (0.12)
  3. 3. Oct 14, 2011 Volume: 1 | Issue: 389| November 1, 2010 FUTURES PREMIUM/DISC Cash Futures P/D% ECONOMY / POLICY / GLOBAL NEWS S&P500 1,184.5 1,202.0 1.48 Volvo Buses will invest Rs. 4bn over a period of five years in India. The company hopes GLAXO 2,051.1 2,077.0 1.27 to have a revenue of $1 billion revenues, according to reports. The company plans to OIL 1,305.2 1,320.8 1.20 set up a new factory soon and hopes to sell 5,000 buses every year from 2015, added FSL 11.2 11.3 0.90 reports. WELCORP 116.7 117.7 0.86 GTOFFSHORE 117.1 118.0 0.77 The Reserve Bank of India (RBI) has opposed the creation of a $20 billion sovereign ABAN 400.0 382.1 (4.49) wealth fund, for acquisition of energy assets overseas, out of foreign exchange reserves MOSERBAER 22.2 21.8 (2.03) and wants the government to create the corpus for it from the Budget. A Group of DLF 238.6 235.6 (1.26) Ministers headed by Finance Minister Pranab Mukherjee yesterday deliberated on the TATASTEEL 452.4 447.4 (1.12) possible ways of creating a fund on the lines of ones that exit in countries like China. IDEA 93.0 92.0 (1.08) Global shipments of personal computers grew by 3.2% to 91.8 million during the third INDUSINDBK 263.6 260.7 (1.08) quarter of the 2011 calendar year, according to market research firm Gartner. These results are slightly lower than the IT research and advisory firm's projection of 5.1% INSTITUTIONAL ACTIVITY (Rs Cr) 5-Oct 4-Oct YTD growth in the quarter. FII Cash Net -969.3 -966.2 (1,763) FII Stock Futures -137.75 -271 8,229 FII Index Futures 74.53 -589.16 13,907 Mutual Fund 103.7 -95.2 498 VALUATIONS P/E P/B DIV YLD BSE 17.7 3.2 1.6 NSE 17.6 3.1 1.6 BSE500 Mcap/GDP Ratio 0.59 MOVERS & SHAKERS 4.91 TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERS Name Rs % Name Rs % Name Rs % ICICI Bank 879 2.22 HATHWAY CAB 101.8 10.30 Wire & Wireless 8.5 19.92 Tata Steel 451.2 1.63 Zydus Wellness 584.0 7.18 Venkys India 472.7 14.77 TCS 1090.8 1.06 Hotel Leela 39.2 6.53 Welspun Projects 40.2 11.98 DLF 238.7 0.89 Himadri Chem 52.0 6.23 Kingfisher Air 23.3 11.78 SBI 1886.9 0.79 Blue Star 230.5 5.04 EDSERV SOFT 95.1 8.56 TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERS Name Rs % Name Rs % Name Rs % Jindal Steel 500.1 -3.45 Shri Ganesh Spi 7.8 -4.98 Zenith Info 93.2 -10.00 Tata Motors 175.75 -3.09 Kwality Dairy 179.1 -4.81 Camlin 45.7 -8.52 Hindalco Inds 128.85 -3.01 India Sec 57.0 -4.60 Om Metals 31.4 -8.33 Maruti Suzuki 1056.4 -2.71 MVL 22.8 -4.60 KGN Inds 21.0 -4.98 Tata Power 98.75 -2.47 Pantaloon Retl 194.7 -4.32 Clarus Finance 60.3 -4.97 BULK DEALS SCRIP NAME CLIENT NAME TYPE QTY % PRICE NSE Gitanjali Gems Limited JAIWANTI MERCANTILES PRIVATE LIMITED BUY 1.53% 346.3 Hexaware Technologies Lim ELDER VENTURE LLP BUY 2.53% 74.7 Rushil Decor Limited PRAKASHBHAI ISHWARBHAI RANA BUY 1.27% 185.0 Gravita India Limited CROSSEAS CAPITAL SERVICES PVT SELL 0.63% 442.7 Savera Industries Ltd MANOJ KUMAR GOEL BUY 1.23% 40.5 BSE Beryl Drugs GLOBALWORTH SECURITIES LIMITED BUY 0.80% 12.8 Bloom Dekor SUNIL SITARAM GUPTA BUY 1.20% 14.7 Eastern Sugar INDO AUSTRO CORPORATION PVT LTD SELL 1.52% 17.3 Gemstone Invest KIRAN BHIKU BHANAES BUY 2.50% 8.8 Vertex Sec MANISH RAMESHBHAI VYAS SELL 0.63% 206.9

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