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Thursday, January 17, 2008
People who apply for Reliance Power
are likely to sell on Listing ...
The current trends are
Yes, will sell on Listing 264 (69.6%)
No 115 (30.4%)
BSE Bulk Deals to Watch - Jan 17 2008
17/1/2008 513513 ADITYA ISPAT APEX SECURITIES B 39087 14.45
17/1/2008 511692 AJCON GLOBAL MOSS TRADERS PVT LTD B 31000 43.79
17/1/2008 506874 ASKME IN HU PRABHUDAS LILLADHER PVT. LTD. B 50003 2.65
17/1/2008 506874 ASKME IN HU NAMAN SEC AND FIN PVT LTD B 108352 2.89
17/1/2008 506874 ASKME IN HU PRABHUDAS LILLADHER PVT. LTD. S 50003 2.89
17/1/2008 506874 ASKME IN HU NAMAN SEC AND FIN PVT LTD S 115906 2.89
17/1/2008 505506 AXON INFOTEC AGRAWAL BROKERAGE PVT. LTD. B 22000 72.50
17/1/2008 505506 AXON INFOTEC CHIRAG SECURITIES S 3400 72.07
17/1/2008 531530 BETALA GLO S NIRUBEN MOHANBHAI PATEL B 7000 13.28
17/1/2008 531530 BETALA GLO S NAYANABEN MOHANBHAI PATEL S 7200 13.28
17/1/2008 590059 BIHAR TUBES MAVI INVESTMENT FUND LTD B 200000 195.00
17/1/2008 590059 BIHAR TUBES MAHESH MEETAL S 45000 198.50
17/1/2008 512332 BIRLA CAP AYODHYAPATI INVESTMENT PVT. LTD S 60128 21.96
17/1/2008 531682 CAT TECHNOL N C JAIN B 315000 11.43
17/1/2008 531682 CAT TECHNOL LATIN MANHARLAL SEC PVT LTD B 300000 11.38
17/1/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 1055891 11.64
17/1/2008 531682 CAT TECHNOL N C JAIN S 290000 11.54
17/1/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 1055891 11.49
17/1/2008 531358 CHOIC INTERN ARUNKUMAR PODDAR B 25000 15.20
17/1/2008 532271 CYBERMAT INF EDELWEISS ESTATES P LTD B 506519 15.00
17/1/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. B 571452 15.04
17/1/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1952379 15.05
17/1/2008 532271 CYBERMAT INF EDELWEISS ESTATES P LTD S 521808 15.03
17/1/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. S 566452 15.08
17/1/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1836365 15.04
17/1/2008 531270 DAZZEL CONFI VIHANG RAMAKANT RELEKAR S 25000 7.28
17/1/2008 521151 DHANLAXM FAB SADHNA STOCKS AND SECURITIES PVT. LTD. B 50000 38.42
17/1/2008 521151 DHANLAXM FAB DINESHKUMAR RAMCHANDRA PANDEY S 44475 38.26
17/1/2008 532287 ENTEGRA LTD VIKRAMADITYA OMPRAKASH KUKREJA B 500000 61.00
17/1/2008 532287 ENTEGRA LTD DEVKANT SYNTHETICS INDIA PVT. S 510000 61.03
17/1/2008 513579 FOUNDRY FUEL D K AGARWALLA AND SONS HUF S 43551 14.44
17/1/2008 524624 GAGAN GASE L NAMAN SEC AND FIN PVT LTD B 25689 14.08
17/1/2008 532767 GAYATRI PROJ MERILL LYNCH CAPITAL MARKET ESPANA B 120000 677.96
17/1/2008 532160 GUJ ST FN CO SNEHALATHA SINGHI B 90000 20.79
17/1/2008 524184 GULSHA SUG C LANDMARK CAPITAL MARKETS LIMITED B 300000 78.26
17/1/2008 524184 GULSHA SUG C SANJAY DANCHAND GHODAWAT B 75000 81.22
17/1/2008 524184 GULSHA SUG C GANDHI SEC.AND INV.PVT.LTD B 75000 82.18
17/1/2008 524184 GULSHA SUG C MICRO MANAGEMENT LTD S 281356 76.76
17/1/2008 524184 GULSHA SUG C KAMAL KUMAR DUGAR AND CO S 65241 74.39
17/1/2008 511116 HFCL INFOTEL ALOK TANDON S 200000 38.11
17/1/2008 531025 INCA FINLEAS RAKSHA JATIN CHHADWA S 30000 155.30
17/1/2008 531314 INTEGRA CAPI ANANT KUMAR RAMGARHIA B 32100 10.50
17/1/2008 531314 INTEGRA CAPI SUSHIL KUMAR S 54800 10.44
17/1/2008 506910 JAYSYN DYEST PREDICT INVESTMENT AND FINANCE S 400000 12.32
17/1/2008 523810 KALE FILMS DIAMANT INVESTMENT AND FINANCE LIMITED B 271850 6.21
17/1/2008 523810 KALE FILMS PAWAN JAIN S 426120 6.33
17/1/2008 531904 KARUNA CABLE AYODHYAPATI INVESTMENT PVT. LTD S 394000 13.54
17/1/2008 532092 KIRTI FINVES AYODHYAPATI INVESTMENT PVT. LTD B 592200 2.04
17/1/2008 532092 KIRTI FINVES AYODHYAPATI INVESTMENT PVT. LTD S 592200 2.06
17/1/2008 531213 MANAP GEN FI BALU.C.P S 60000 189.35
17/1/2008 531213 MANAP GEN FI ATHULYA SURESH S 61772 189.35
17/1/2008 517467 MARSON LTD ATUL MEHTA B 150000 10.30
17/1/2008 526415 OK PLAY INDI RAJENDRA KUMAR JAIN B 35000 138.50
17/1/2008 526415 OK PLAY INDI SHRIPAL SHARES AND SECURITIES LIMITED B 40000 138.50
17/1/2008 526415 OK PLAY INDI DHARMESH SHAH B 40000 138.61
17/1/2008 524372 ORCHID CHEM CHANDRA FIN. SERV. PVT. LTD B 394927 317.52
17/1/2008 532606 PAREKH ALUM U P SHAH HUF B 40000 243.42
17/1/2008 526043 POLYMECHPLAS NANDLAL MOHANLAL LAKHANI B 20000 17.20
17/1/2008 531219 POONAM PHARM VISHWANATH HETRAM VARMA S 40000 5.18
17/1/2008 532675 PRITHVI INFO KUNDAN LEASING AND FINVEST PVT. LTD B 231088 338.59
17/1/2008 531646 RFL INTERNAT ANKITKUMAR S. GANERIWAL B 100000 2.45
17/1/2008 523710 SAYAJ HOTELS CLEARWATER CAPITAL PARTNERS CYPRUS LTD S 100000 120.00
17/1/2008 531715 SHUKUN CONST APEX SECURITIES S 272767 4.16
17/1/2008 526133 SUPERTEX IND NAROTTAM LAL BASUDEV MISHRA S 421000 1.55
17/1/2008 531499 SYBLY INDUSR DHEERAJ KUMAR B 92008 10.71
17/1/2008 531499 SYBLY INDUSR CAMPHAR SEC AND ADV P LTD B 59172 10.09
17/1/2008 531499 SYBLY INDUSR GEOMETRIC SEC AND ADV SER P LTD S 90967 10.99
17/1/2008 532765 USHER AGRO MAVI INVESTMENT FUND LTD B 100000 202.15
16/1/2008 531400 ALMONDZ GLO LAVINA ASHSHISH GOENKA B 100000 116.95
16/1/2008 532935 ARIES AGRO MBL AND COMPANY LIMITED B 93878 226.98
16/1/2008 532935 ARIES AGRO MATRIX EQUITRADE PVT LTD B 191760 234.86
16/1/2008 532935 ARIES AGRO OPG SECURITIES PVT LTD B 196222 232.07
16/1/2008 532935 ARIES AGRO MBL AND COMPANY LIMITED S 93878 227.92
16/1/2008 532935 ARIES AGRO MATRIX EQUITRADE PVT LTD S 191760 234.93
16/1/2008 532935 ARIES AGRO OPG SECURITIES PVT LTD S 196222 232.47
16/1/2008 532271 CYBERMAT INF CHIMANLAL MANEKLAL SEC.PVT.LTD B 859023 15.22
16/1/2008 532271 CYBERMAT INF CHIMANLAL MANEKLAL SEC.PVT.LTD S 874023 15.19
16/1/2008 517973 DMC INTER CENTENARY SOFTWARE PRIVATE LIMITED S 19206 36.44
16/1/2008 532092 KIRTI FINVES ENCA FINLEASE LTD. B 873253 1.99
16/1/2008 505523 MAH IND LEAS GLOBAL FILM AND BORD CASTING L B 55916 58.60
16/1/2008 532606 PAREKH ALUM HSBC MUTUAL FUND . . S 40977 241.35
16/1/2008 532675 PRITHVI INFO MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. S.V. S 100000 300.14
16/1/2008 532886 SEL MANUF ASTUTE COMMODITIES AND DERIVATIVES PVT LTD S 100897 186.10
16/1/2008 512499 SHALIMAR PRO ENCA FINLEASE LTD. B 117302 2.84
16/1/2008 509992 U B ENGINEER SUDHIR JAIN B 96576 180.78
15/1/2008 532935 ARIES AGRO NAMAN SEC AND FIN PVT LTD B 164015 238.89
15/1/2008 532935 ARIES AGRO ASTUTE COMMODITIES AND DERIVATIVES PVT LTD B 194462 240.30
15/1/2008 532935 ARIES AGRO NAMAN SEC AND FIN PVT LTD S 124775 237.62
15/1/2008 532935 ARIES AGRO ASTUTE COMMODITIES AND DERIVATIVES PVT LTD S 194958 240.70
15/1/2008 522134 ARTSON ENGIN ASTUTE COMMODITIES AND DERIVATIVES PVT LTD B 48361 87.34
15/1/2008 507944 BAJAJ STEEL TECKNOPOINT MERCANTILE COMPANY PVT LTD B 23019 220.93
15/1/2008 532271 CYBERMAT INF NAMAN SEC AND FIN PVT LTD B 365840 15.48
15/1/2008 532271 CYBERMAT INF NAMAN SEC AND FIN PVT LTD S 361841 15.43
15/1/2008 517973 DMC INTER CENTENARY SOFTWARE PRIVATE LIMITED B 55500 38.84
15/1/2008 517973 DMC INTER CENTENARY SOFTWARE PRIVATE LIMITED S 35106 38.83
15/1/2008 524818 DYNAMIC INDU KANDAGATLA RAMADEVI B 27917 40.46
15/1/2008 511682 IFL PRMOTER CENTENARY SOFTWARE PRIVATE LIMITED S 40254 39.63
15/1/2008 532067 KILPEST INDI HEMANT MADHUSUDAN SHAH S 36650 110.59
15/1/2008 519287 MODERN DAIRE JAYPEE CAPITAL SERVICES LTD S 98373 84.84
15/1/2008 514264 SEASONS TEXT NAMAN SEC AND FIN PVT LTD B 110003 20.96
15/1/2008 514264 SEASONS TEXT NAMAN SEC AND FIN PVT LTD S 110003 20.95
15/1/2008 590037 STEEL EXCH NAMAN SEC AND FIN PVT LTD B 214624 155.10
15/1/2008 590037 STEEL EXCH NAMAN SEC AND FIN PVT LTD S 181896 155.23
15/1/2008 531703 TRIBHVAN HSG G R PANDYA SHARE BRO B 33279 32.03
15/1/2008 509992 U B ENGINEER SAHIL JAIN B 101528 173.77
14/1/2008 532935 ARIES AGRO BHANDARI RAKHI KALPESH B 71000 223.92
14/1/2008 532935 ARIES AGRO BHANDARI RAKHI KALPESH S 71000 225.77
14/1/2008 532363 COMP-U-LEARN BIPIN B DOSHI S 90000 21.24
14/1/2008 517973 DMC INTER CENTENARY SOFTWARE PRIVATE LIMITED B 37786 37.94
14/1/2008 517973 DMC INTER CENTENARY SOFTWARE PRIVATE LIMITED S 27699 37.99
14/1/2008 511682 IFL PRMOTER CENTENARY SOFTWARE PRIVATE LIMITED S 17143 36.27
14/1/2008 532933 PORWAL AUTO BHANDARI RAKHI KALPESH B 230757 83.69
14/1/2008 532933 PORWAL AUTO BHANDARI RAKHI KALPESH S 230757 87.03
14/1/2008 531646 RFL INTERNAT HEMANT K GUPTA S 628409 2.79
14/1/2008 503297 SUP SYNCOT I HEMANT K GUPTA B 90733 7.00
11/1/2008 532935 ARIES AGRO TRANSGLOBAL SECURITIES LTD B 166205 218.10
11/1/2008 532935 ARIES AGRO TRANSGLOBAL SECURITIES LTD S 166205 218.30
11/1/2008 507944 BAJAJ STEEL SAINATH HERBAL CARE MARKETING P LTD B 11847 218.25
11/1/2008 531646 RFL INTERNAT HEMANT K GUPTA B 259151 2.66
11/1/2008 503297 SUP SYNCOT I HEMANT K GUPTA B 50000 6.68
NSE Bulk Deal Watch - Jan 17 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-JAN-2008,ARIES,Aries Agro Limited,KARIMJEE PVT.LTD.,BUY,65195,223.92,-
17-JAN-2008,ARIES,Aries Agro Limited,R.M. SHARE TRADING PVT LTD,BUY,87150,227.11,-
17-JAN-2008,BLUECHIP,Blue Chip India Ltd,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,400017,4.05,-
17-JAN-2008,FIEMIND,Fiem Industries Limited,AMON PANICHKIVALKOSIL,BUY,65000,102.29,-
17-JAN-2008,HEXAWARE,Hexaware Technologies Lim,SONATA INVESTMENTS LIMITED,BUY,1066006,79.39,-
17-JAN-2008,LICHSGFIN,LIC Housing Finance Ltd,TAIB SECURITIES MAURITIUS LTD (TSML),BUY,650000,380.52,-
17-JAN-2008,OMNITECH,Omnitech Infosolutions Li,MANISH VRAJLAL SARVAIYA,BUY,114288,231.25,-
17-JAN-2008,ORIENTPPR,Orient Paper & Ind Ltd,BIRLA MUTUAL FUND,BUY,74358,709.00,-
17-JAN-2008,POCHIRAJU,Pochiraju Industries Limi,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,43160,44.97,-
17-JAN-2008,PUNJABCHEM,Punj Chem & Crop Prot Ltd,LAVINA ASHISH GOENKA,BUY,50000,229.80,-
17-JAN-2008,RENUKA,Shree Renuka Sugars Limit,MORGAN STANLEY MAURITIUS COMPANY LIMITED,BUY,150000,1251.45,-
17-JAN-2008,SAKUMA,Sakuma Exports Limited,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,95803,34.18,-
17-JAN-2008,SELMCL,SEL Manufacturing Company,DKG SECURITIES PVT LTD,BUY,100000,217.63,-
17-JAN-2008,UNITY,Unity Infraprojects Limit,CLEARWATER CAPITAL PARTNERS INVESTMENTS LTD.,BUY,94852,875.00,-
17-JAN-2008,UNITY,Unity Infraprojects Limit,PEGASUS STOCKS AND SHARES PVT LTD,BUY,2495,889.26,-
17-JAN-2008,ARIES,Aries Agro Limited,KARIMJEE PVT.LTD.,SELL,65195,223.66,-
17-JAN-2008,ARIES,Aries Agro Limited,R.M. SHARE TRADING PVT LTD,SELL,87150,227.03,-
17-JAN-2008,BINDALAGRO,Oswal Chem & Fert Ltd.,RELIANCE CAPITAL TRUSTEE CO.LTD.A/C RELIANCE GROWTH FUND,SELL,1674949,66.80,-
17-JAN-2008,BLUECHIP,Blue Chip India Ltd,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,158688,4.06,-
17-JAN-2008,OMNITECH,Omnitech Infosolutions Li,MANISH VRAJLAL SARVAIYA,SELL,109288,229.65,-
17-JAN-2008,ORIENTPPR,Orient Paper & Ind Ltd,BIRLA MUTUAL FUND,SELL,74358,709.00,-
17-JAN-2008,POCHIRAJU,Pochiraju Industries Limi,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,120103,45.18,-
17-JAN-2008,SAKUMA,Sakuma Exports Limited,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,95803,34.53,-
17-JAN-2008,UNITY,Unity Infraprojects Limit,PEGASUS STOCKS AND SHARES PVT LTD,SELL,110419,875.54,-
17-JAN-2008,VLSFINANCE,VLS Finance Ltd.,V.K. KUMRA,SELL,117000,43.14,-
REL, HDIL, DLF January 2008 futures at premium
Turnover in F&O segment declines
Nifty January 2008 futures were at 5922, at premium of 8.80 points as compared to spot closing of 5913.20.
The NSE's futures & options (F&O) segment turnover was Rs 67,865.55 crore, which was lower than Rs 80,606.24 crore on Wednesday, 16 January 2008.
Reliance Energy (REL) January 2008 futures were at premium, at 2219, compared to the spot closing of 2213.15.
Housing Development and Infrastructure (HDIL) January 2008 futures were at premium, at 1417, compared to the spot closing of 1395.90.
DLF January 2008 futures were at premium, at 1091, compared to the spot closing of 1083.15.
In the cash market, the S&P CNX Nifty lost 22.55 points or 0.38% at 5913.20
Important - Reliance Power - Payment Option
For those who are yet to apply for the Reliance Power issue can apply for the 1L option by paying 25875.
The Retail Portion is already oversubscribed by 8 times and there is no chance that you would end up with partly paid up shares - So go ahead and apply for 1L using part payment option - you would stand a better chance when it comes to allotment
Post Session Commentary - Jan 17 2008
The Indian market closed in red consecutively for the fourth straight trading session. The market opened on a firm note taking cues from the Asian markets but volatility ruled the market through out the trading session. The market gained the momentum towards the mid session but unable to sustain all its gains as the profit booking across the counters prevailed towards the final trading hours of the session. The Mid Caps and Small Caps remained in the limelight as they outperformed the benchmark indices by showing most buying from these baskets. The BSE Sensex closed lower by 167.29 points at 19,700.82 and NSE Nifty fell by 22.55 points to close at 5,913.20. The BSE Mid Cap and Small Cap closed higher by 72.81 points and 218.08 points at 9,340.01 and 12,740.29 respectively.
BSE Metal index closed up by 126.75 points at 18,147. Scrips that grew are Nalco (7.42%), Welspun Guj (4.93%), Bhushan Steel (2.85%), Ispat (2.28%), Jindal Steel (2.09%).
BSE Capital Goods index grew by 258.02 points to close at 18,931.82. Scrips that advanced are Siemens (4.26%), L&T (2.20%), Thermax Ltd (2.19%), BHEL (1.72%)
BSE FMCG index closed up by 41.29 points at 2,347.27. Scrips that pushed up are ITC (3.98%), Godrej Cons (1.60%), HUL (1.09%), GlaxoSmithKline Cons (0.68%), Tata Tea (0.62%) .
BSE Realty index closed lower by 62.12 points at 12,763.19 as DLF (3.71%), Ansal Infra (1.73%), Phoenix Mill (1.18%), Indbul Real (0.47%) and Purvankara (0.34%) closed lower.
BSE Bankex index dropped by 192.71 points to close at 11,971.14 as ICICI bank (3.46%), CentBOP (1.75%), HDFC bank (1.72%), Federal bank (1.55%) and Andhra bank (0.44%) closed in red.
BSE Oil & Gas index fell by 268.76 points to close at 13,381.37. Scrips that dropped are reliance industries (3.30%), Aban Offshore (2.85%), HPCL (1.83%), IOCL (1.65%)
BSE IT index slipped by 29.34 points to close at 3,853.54 as Patni Comp (5.13%), Mphasis (2.69%), TCS (2.31%), GTL Ltd (2.10%), Satyam (1.95%) and I-Flex (0.92%) closed lower.
Market ends on a bearish note
The market witnessed a dramatic turnaround in the afternoon as substantial selling at higher levels dragged the index below 19,650 mark and the Sensex fell over 220 points in the last hour of the trading session. The Sensex began the trading session above 105 points at 19,973, however it quickly slipped into the red tracking weak US and Asian markets. While the market languished in the negative territory, the index rolled back into the green in the afternoon and surged to an intra-day high of 20,026 on fresh buoyancy in the index pivotal stocks. However, profit bookings in heavyweights, banking, oil, and IT stocks saw the Sensex enter into negative territory again to touch the day's low of 19,644. The Sensex finally closed the session with a loss of 167 points at 19,701, while the Nifty slipped 23 points to close at 5,913.
The market breadth was positive. Of the 2,877 stocks traded on the Bombay Stock Exchange (BSE), 2,003 stocks advanced, 833 stocks declined and 41 stocks ended unchanged. Out of the 13 sectoral indices, seven indices ended higher while six indices eased on profit taking. The BSE FMCG index gained 1.79% and the BSE CG index moved up by 1.38%. However, the Oil & Gas index fell 1.97%, the BSE Bankex index slipped 1.58% and the BSE IT index slipped 0.76%.
Among the 30 Sensex stocks, 17 bore the brunt of heavy selling. Ambuja Cement led the slump and crashed by 3.89% at Rs131. Among the other major laggards DLF tumbled by 3.71% at Rs1,086, ICICI Bank dropped 3.46% at Rs1,322, Reliance Industries slumped 3.30% at Rs2,996, Ranbaxy fell 2.85% at Rs368, Reliance Energy declined by 2.38% at Rs2,213 and TCS lost 2.31% at Rs923. Other major front-line stocks shed 1-2% each. However, ITC rose 3.98% at Rs217, Grasim surged 3.05% at Rs3,360, Maruti Suzuki gained 2.76% at Rs867, L&T moved up 2.20% at Rs4,078 and Cipla added 1.83% at Rs209.
Over 4.60 crore Himachal Futuristic Communication shares changed hands on the BSE followed by RNRL (1.96 crore shares), Ispat Industries (1.90 crore shares), Bellari Steel (1.56 crore shares) and Hindustan Motors (1.12 crore shares).
Valuewise, Reliance Industries registered a turnover of Rs472 crore on the BSE followed by RNRL (Rs431 crore), Reliance Energy (Rs316 crore), Reliance Capital (Rs210 crore) and Himachal Futuristic Communication (Rs202 crore).
Small-cap, mid-cap indices shine in weak market
The market slipped for the fourth straight session today, giving up early gains as index heavyweights Reliance Industries (RIL) and ICICI Bank declined. RIL dipped after it reported Q3 December 2007 results, which were boosted by one-off gains. Ambuja Cements slipped. Banking and oil & gas shares declined. FMCG stocks were the flavor of the day. 17 out of 30 stocks from the Sensex pack were in red. The market breadth was strong.
Asian markets, which were weak in early trade, firmed up as the day progressed. European markets, which opened after Indian markets, were positive.
A meeting of the group of ministers (GoM) on fuel pricing which was scheduled today afternoon has been reportedly postponed until 18:00 IST. There had been reports recently that the government may hike petrol prices by a steep Rs 4 per litre and diesel by Rs 2 per litre. A steep hike retail fuel prices will result in increase in inflation.
The 30-share BSE Sensex lost 167.29 points or 0.84% to 19,700.82. Sensex hit a low of 19,643.76 at the fag end of the trading session. At the day's low, Sensex declined 224.35 points. Sensex hit a high of 20,026.12 in afternoon trade. At the day's high, Sensex rose 158.01 points.
The broader CNX S&P Nifty lost 22.55 points or 0.38% to 5913.20.
The BSE Small-Cap index rose 1.74% to 12,740.29. The BSE Mid-Cap index rose 0.79% to 9,340.01.
The market breadth was strong. On BSE, 2003 shares advanced as compared to 833 that declined. 41 remained unchanged.
BSE clocked a turnover of Rs 8423 crore, compared to Wednesday (16 January 2008)'s Rs 7900 crore.
Nifty January 2008 futures were at 5922, at premium of 8.8 points compared with spot closing of 5913.20.
The NSE futures & options (F&O) segment turnover was Rs 67865.55 crore, which was lower than Rs 80606.24 crore on Wednesday, 16 January 2008.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) lost 3.30% to Rs 2996.25. RIL reported 162.22% surge in net profit to Rs 8079 crore on 23.01% increase in total income to Rs 34831 crore in Q3 December 2007 over Q3 December 2006. The surge in net profit was due to one-off gains.
Among the other Sensex losers, Ambuja Cements slipped 3.89% to Rs 130.80, DLF fell 3.71% to Rs 1085.75, Ranbaxy Laboratories declined 2.85% to Rs 367.90, and Satyam Computers fell 1.95% to Rs 372.45.
Among the Sensex gainers, ITC soared 3.98% to Rs 217.10, Grasim Industries jumped 3.05% to Rs 3360, Maruti Suzuki flared up 2.76% to Rs 867.30, Larsen & Toubro climbed 2.20% to Rs 4077.70, Cipla rose 1.83% to Rs 209.
The BSE Bankex fell 1.58% to 11,971.14. It underperformed the Sensex. India’s largest private sector bank by assets ICICI Bank shed 3.46% to Rs 1321.80.
Centurion Bank of Punjab fell 1.75% to Rs 67.35, HDFC Bank declined 1.72% to Rs 1647.10, Federal Bank slipped 1.55% to Rs 339.95, and Canara Bank skid 0.90% to Rs 351.60.
The BSE Oil & Gas index fell 1.97% to 13,381.37. It underperformed the Sensex. Aban Offshore dropped 2.85% to Rs 4,656.45, HPCL skid 1.83% to Rs 329.90, Indian Oil Corporation slipped 1.65% to Rs 656.75 and Reliance Petroleum fell 0.75% to Rs 219.30.
The BSE FMCG index rose 1.79% to 2,347.27. It outperformed the Sensex. Godrej Consumer Products rose 1.60% to Rs 127.30, Hindustan Unilever gained 1.09% to Rs 217.30, GlaxoSmithkline Consumer Healthcare moved up 0.68% to Rs 690 and Tata Tea rose 0.62% to Rs 829.85.
The BSE Capital Goods index rose 1.38% to 18,931.82. It outperformed the Sensex. Siemens jumped 4.26% to Rs 1,998.05, Thermax rose 2.19% to Rs 755.40, Crompton Greaves gained 1.93% to Rs 382 and Bharat Heavy Electricals climbed 1.72% to Rs 2348.50.
India's second largest power utility by revenue Reliance Energy (REL) fell 2.38% to Rs 2212.70. The company today reported 50.02% rise in net profit to Rs 301.6 on 1.81% increase in total income to Rs 1,853.41 crore in Q3 December 2007 over Q3 December 2006.
As per the latest data, the IPO of Reliance Power was subscribed 20.84 times. The IPO closes tomorrow. REL will have 45% stake in Reliance Power post issue.
India’s largest software exporter by sales TCS fell 2.31% to Rs 922.65. TCS posted 6.7% rise in net profit as US accounting standards to Rs 1331 crore in Q3 December 2007 over Q2 September 2007. The results, which hit the market after trading hours on Wednesday, were in line with market expectations.
Reliance Industries clocked the highest turnover of Rs 472.55 crore on BSE. Reliance Natural Resources (Rs 431.10 crore), Reliance Energy (Rs 316.12 crore), Reliance Capital (Rs 210.53 crore) and Himachal Futuristic Communications (Rs 202.53 crore), were the other turnover toppers on BSE in that order.
Himachal Futuristic Communications reported the highest volume of 4.60 crore shares on BSE. Reliance Natural Resources (1.96 crore shares), Ispat Industries (1.90 crore shares), Bellary Steels & Alloys (1.56 crore shares) and Hindustan Motors (1.12 crore shares), were the other volume toppers on BSE in that order.
In Europe, key indices in UK, France and Germany were up 0.25% to 0.47%
Most of the Asian markets firmed up as the day progressed. Key indices in Japan, Hong Kong, and South Korea were up 1.09% to 2.72%. Key benchmark indices in China and Taiwan were down by 0.95% to 2.63%.
US stocks fell on Wednesday, after Intel Corporation posted both a disappointing profit and outlook. The Dow Jones industrial average lost 34.95 points, or 0.28%, at 12,466.16. The Standard & Poor's 500 Index lost 7.75 points, or 0.56%, at 1,373.20. The Nasdaq Composite Index shed 23 points, or 0.95%, at 2,394.59.
Crude oil futures declined 1.15% at $90.84 on Wednesday, 16 January 2008. Foreign institutional investors (FIIs) were net sellers of Rs 3,760 crore in the futures & options (F&O) market on Wednesday, the day when Sensex had lost 383 points amid setback in global markets. FIIs were net sellers of Rs 3,164 crore in index futures, and Rs 1,080 crore in stock futures. They were buyers of Rs 484 crore in index options.
FIIs were net sellers of Rs 2,517.59 crore (provisional) in the cash market on Wednesday, according to data released by NSE. Domestic institutional investors (DIIs) were net buyers of Rs 188.97 crore on Wednesday.
Market Close: Continues to loose the strength!
After witnessing a panic selling for last two sessions, Indian indices displayed a volatile trade for entire day. Indices traded on both the sides; there was no clear direction where it was headed. After green start markets lost the strength and fell into negative region, some level of value buying helped the indices to recover from lows and tried to sustain in green teritory. However, heavy selling at last hour of trade kept the indices down till the end. A sea saw session for the day; the global cues were not supportive, Asian markets ended mixed and European markets are trading in green. Sectors like Banking, IT, Oil & Gas and Realty stocks were under pressure. FMCG and Capital Goods cheered the day. Investors preferred to buy mid and small caps, which were battered for last 5-6 sessions.
The ministers meeting for fuel price hike which was scheduled today afternoon has been postponed. Some reports state that Government may hike petrol prices by Rs 4 per litre and diesel by Rs 2 per litre. A hike in fuel prices will result in increase in inflation and also negative for logistics and cement companies, but certainly good for oil marketing companies.
Sensex closed down by 167 points at 19700.82. Weighing on the Sensex are losses in Guj Ambuja (130.8,-4 percent), ICICI Bk (1321.8,-3 percent), RIL (2996.25,-3 percent), Ranbaxy (367.9,-3 percent) and Rel Energy (2212.7,-2 percent). Losses are restricted by gains in ITC (217.1,+4 percent), Maruti (867.3,+3 percent), L & T (4077.7,+2 percent), Cipla (209,+2 percent) and BHEL (2348.5,+2 percent).
Paramount Communication (Paramount) is one of the leading manufacturers of Power Cables, Railway Cables and Telecom Cables. It supplies large variety of specialized cables and wires for diversified range of industries like Railway, Telecommunication, Space Research, Thermal and Nuclear power plants, Petrochemicals, Fertilizers, Steel, Electronics and various other industries. Paramount has two manufacturing units located at Dharuhera, Haryana and Khushkhera, Rajasthan. For the second quarter 2007, top line grew by 32% to Rs 116 cr and the bottom line was up by 9% to Rs 10 cr. The Ebidta also up by 8% to Rs 18 cr on yoy basis. The Ebidta margins were down by 600 bps due to increase in cost of raw materials. The raw material constitutes around 70% of net revenues. Valuations are certainly attractive; the business scenario is extremely promising. For more details please do read our detailed note here.
HCL Technologies reported flat results for the second quarter. It has posted standalone net profit at Rs 267 cr for the quarter ended December 2007 as against Rs 264 cr in previous quarter. Standalone net sales increased to Rs 1,129 cr from Rs 1,103 cr. Consolidated revenues went up at Rs 1,816 cr as against Rs 1709 cr and net profit at Rs 333 cr from Rs 286 cr. Net profit margin declined to 23.64% from 27.24% and net sales increased to Rs 1,129 cr from Rs 977 cr on yoy basis. The company added 2312 employees. The slow down in US and appreciating Rupee will have a major impact on performance of IT companies.
Technically Speaking: An extremely volatile session for the day as Index traded on both the sides without clear direction and ended with loss of 167 points. Sensex touched intraday high of 20,026 and low of 19,644. Overall breadth was in favor of Advances, where the Advances stood at 1980, while Declines at 860. The turnover was good at Rs 8,423 cr. Sensex had tested the breakdown level today and failed to hold above it. Next major support is at 19,500 if broken 19,060 and 18500 are on card. On the higher side Resistance will be at 20,050 and 20,250.
Market may remain weak
The current market sentiment is mainly driven by the global scenario and earning estimations. The mood of the market is expected to remain sluggish on the back of weak US markets and subdued Asian indices in current trades may drag the market further down in early trades. Among the indices, the Nifty could test higher levels around 6,100 and 6,600 while on the downside the index has a strong support at 5,840-5,675 levels. The Sensex has a likely support at 19,500 and may face resistance at 20,500. Biocon, Finacial Technologies, Godrej Consumers, HCL Tech, IDBI, Indiabulls, NDTV, Orchid Chemicals, Ranbaxy, Reliance Industries, Reliance Energy, RNRL and Wipro are expected to announce their quarterly numbers.
Major US indices finished flat on Wednesday, on disappointing earnings and outlook with more worries about the economy caused another sell off on Wall Street. While the Dow Jones slipped by 35 points at 12466, the Nasdaq slipped by 23 points to close at 2395.
Crude oil prices moved down marginally, with the Nymex light crude oil for February delivery slipping by a dollar to close at $90.84 a barrel. In the commodity space, the Comex gold for February delivery fell $19.40 to settle at $882 an ounce.
Reliance likely to post $1 billion profit
As India’s most valuable firm Reliance Industries (RIL) gets ready to announce its third quarter results on Thursday, analysts with leading Indian and international broking houses are keeping their fingers crossed.
The petrochemical giant has, of late, developed a habit of surprising the analysts and also beating street expectations. The trend is likely to continue this time too. RIL is expected to post an over 25% increase in net profit, which is expected to touch Rs 4,000 crore ($1 billion), on a turnover of Rs 33,234 crore, according to ETIG estimates.
If we were to add the Rs 4,023 crore RIL gained from the sale of a 4% stake in Reliance Petroleum during the quarter, the PAT will zoom past Rs 8,000 crore (about $2 billion). The net profit is based on the assumption that RIL will post robust gross refining margins (GRMs) of over $15 per barrel during the December 2007 quarter. The rise in petrochemical prices and a modest increase in volumes will help the company post a substantial gain in turnover.
The improved performance will make RIL the second Indian corporate, after ONGC, and the first private sector company to cross the $1 billion mark in quarterly net profit. ONGC had posted a net profit of Rs 5,097.5 crore during the second quarter of 2007-08, the highest in Indian corporate history.
The October-December quarter witnessed strong growth in international refining margins, as prices of petro-products like petrol, diesel and naphtha rose faster than crude.
The benchmark Singapore refining margins almost doubled during the quarter to around $8 per barrel compared with the corresponding quarter in 2006-07. Meanwhile, GRMs in the US weakened during the period. The US is a key market for RIL, which is able to supply low-sulphur fuel. During the same period, GRMs in Europe and Asia improved.
RIL’s profits are likely to be high, despite an expected weakening of petrochemicals margins. Globally, the petrochemicals business has witnessed pressure on margins, as feedstock prices soared faster compared with the downstream petrochemicals and polymers. However, RIL will not face significant adverse impact, since some of its petrochemical units use natural gas as feedstock.
The erstwhile IPCL’s Gandhar and Nagothane petrochemical complexes and RIL’s Hazira petrochemicals complex are based on natural gas. Refining and petrochemicals contribute 98% of the company’s total revenues.
During the quarter, RIL’s Jamnagar refinery is likely to post around 5% fall in the volume of crude processed. This fall in production is likely to have a marginal negative impact on profits when compared with the corresponding previous quarter. The rupee’s appreciation, over the last one year, could also have a marginally negative effect on its financial performance.
On the Bombay Stock Exchange, the RIL scrip ended at Rs 3,098, down Rs 64, or 2%, over the previous day’s closing in a weak market.
Via ET
Short Term Trading Calls - Jan 17 2008
Buy NIFTY FUTURES with a stop loss of 5800 for a short-term target of 6180
Buy Indian Bank with a stop of 219 for a short term target of Rs 265
Buy Himat Singka Seide with a stop loss of 101 for a short-term target of 140
Buy Asian Electronics with a stop of 490 for short term targets of Rs 570 and 810
US Markets end lower again
Indices plunge in the red in the final half hour registering modest losses
US Market once again ended in the red today, Wednesday, January 16, 2008 but today, the losses were modest. In fact it was quite a roller coaster ride for the market today. The indices were considerably up in the last thirty minutes before market were to close. But in the last twenty minutes, sell-off overpowered. Earnings reports from Intel and JP Morgan ruled the overall investor sentiment for the day. Six out of ten economic sectors ended in the red.
The Dow Jones industrial Average ended the day with a loss of 35 points at 12,466. The Nasdaq Composite Index, finished lower by 23 points at 2,394. S&P 500 finished lower by 7.75 points at 1,373. Sixteen out of thirty Dow stocks ended in the red today.
Before the opening bell, JP Morgan reported its earnings. Though the bank reported drop in its quarterly profits, it did not report loss, like many of its contemporaries. This pleased the investors and the stock ended almost 6% higher.
Technology sector witnessed immense sell off today after Intel disappointed investors with its earnings report after yesterday’s close. The shares of Intel dropped by almost 12% today. It took a toll on other technology stocks also. Oracle, Apple – all ended considerably lower today.
Fed’s Beige Book takes market up in spite of no new data
The Fed's Beige Book, which is largely an anecdotal review of the economy, was released today afternoon. Market did react positively though it did not contain new data and Dow was up by 112 points at one point of time. The report said residential real estate was "quite weak" in all regions, and further declines are expected in residential real estate lending.
On the economic front, December Consumer Producer Index (CPI) rose a slightly higher than expected 0.3%. The consensus estimate predicted CPI to rise 0.2%. Core CPI, which excludes volatile energy and food prices, rose an expected 0.2%.
December Industrial production was flat, which was slightly better than the expected 0.2% decline.
Crude prices fell by more than $1/barrel today. Price slipped after Energy Department reported that crude stockpiles rose more than expected for the first time in nine weeks. Crude-oil futures for light sweet crude for February delivery today closed at $90.84/barrel (lower by $1.06/barrel or 1.2%) on the New York Mercantile Exchange. Prices are 77% higher than a year ago.
As per the weekly inventory report by the EIA, U.S. crude inventories rose for the first time in nine weeks, up by 4.3 million barrels to 287.1 million barrels in the week ending 11 January. U.S. crude-oil imports averaged 10.4 million barrels a day last week, up 583,000 barrels a day from the previous week. U.S. refineries operated at 87.1% of their operable capacity last week, down from the previous week's 91.3%.
On the New York Stock Exchange, trading volume topped 2.1 billion shares, and advancing stocks edged just ahead of those declining. On the Nasdaq, 3.4 billion shares were exchanged, and advancers outran just ahead of decliners.
Investors will have lots of economic data to focus upon for tomorrow’s trading. December Housing Starts and Building Permits will be out before market opens followed by Initial claims data.
Reliance Industries to guide the market
The market may edge higher as investors may hunt for bargains after a steep fall in the last two days. An unexpected slowdown in US retail sales and record quarterly losses posted by financial services giant Citigroup spooked markets across the global on Wednesday, 16 January 2008. Third quarter December 2007 results of Reliance Industries (RIL) will influence the market today given that RIL is a heavyweight in the key indices. RIL is expected to post good Q3 numbers on the back of higher refining margins.
IT giant TCS posted 6.7% rise in net profit as US accounting standards to Rs 1331 crore in Q3 December 2007 over Q2 September 2007. The results which hit the market after trading hours on Wednesday, were in line with market expectations.
Q3 December 2007 results are being keenly watched this time because some of the top brokerages expect slowdown in earnings growth of the 30-Sensex companies in the quarter.
Foreign institutional investors (FIIs) were net sellers of Rs 3,760 crore in the futures & options (F&O) market on Wednesday, the day when Sensex had lost 383 points amid setback in global markets. FIIs were net sellers of Rs 3,164 crore in index futures, and Rs 1,080 crore in stock futures. They were buyers of Rs 484 crore in index options.
FIIs were net sellers of Rs 2,517.59 crore (provisional) in the cash market on Wednesday, according to data released by NSE. Domestic institutional investors (DIIs) were net buyers of Rs 188.97 crore on Wednesday.
A meeting of the group of ministers (GoM) on fuel pricing is scheduled today. There had been reports recently that the government may hike petrol prices by a steep Rs 4 per litre and diesel by Rs 2 per litre. A steep hike retail fuel prices will result in increase in inflation.
Asian markets were mostly lower on Thursday, 17 January 2008. Key benchmark indices in Hong Kong, China, Taiwan and South Korea were down by between 0.39% to 2.1%. Though the Nikkei was still in the green, it had pared earlier gains. It was up just 0.29%.
US stocks fell on Wednesday, after Intel Corporation posted both a disappointing profit and outlook. The Dow Jones industrial average lost 34.95 points, or 0.28%, at 12,466.16. The Standard & Poor's 500 Index lost 7.75 points, or 0.56%, at 1,373.20. The Nasdaq Composite Index shed 23 points, or 0.95%, at 2,394.59.
Crude oil futures declined 1.15% at $90.84 on Wednesday, 16 January 2008.
Trading Calls - Jan 17 2008
Nifty (5939) Supp 5857 Ress 6015
Buy ACC (856)
SL 849 Target 867, 869
Buy Voltas (248)
SL 244 Target 258, 261
Buy Orchid Chem (307)
SL 303 Target 315, 318
Sell CESC (641)
SL 646 Target 631, 629
Sell Cent Text (1155)
SL 1165 Target 1135, 1130
Pre Market Watch - Jan 17 2008
The Indian Market is likely to have a positive opening as the Asian market is trading higher. Yesterday, the Indian market closed in the negative territory on the back of heavy profit booking across the counters. The market opened in red backed by negative cues from the global markets and drifts down further since the opening bell. The market faced the bloodbath due to heavy selling pressures. But buying at the lower levels led the market to cover up some of its lost points towards the end of the session. The BSE Sensex closed lower by 382.98 points at 19,868.11 and NSE Nifty fell by 138.5 points to close at 5,935.75. We expect that the market may remain volatile during the trading session.
On Wednesday, the US market closed in negative. The Dow Jones Industrial Average (DJIA) closed lower by 34.95 points at 12,466.16. S&P 500 index slipped by 7.75 points to close at 1,373.20 and NASDAQ dropped by 23 points to close at 2,394.59Indian ADRS closed in negative. In technology sector, Satyam fell by (5.41%) along with Patni computers (5.36%), Wipro (2.64%) and Infosys (1.15%). In banking sector, HDFC bank slipped by (5.24%) while ICICI bank grew by 0.33%. VSNL and MTNL dropped by (7.88%) and (6.70%) respectively. Sterlite industries decreased by (6.71%).
The major stock markets in Asia are trading firm. Hang Seng is trading higher by 400.48 points at 24,851.33 along with Japan''s Nikkei is trading up by 152.44 points at 13,656.95 and Seoul Composite is trading at 1,712.96 up by 7.99 points.
On Wednesday, the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs5,209.90 Crore and the gross debt purchased was Rs249.10 Crore while the gross equity sold stood at Rs4,984.10 Crore and gross debt sold stood at Rs45.10 Crore. Therefore, the net investment of equity reported was Rs225.80 Crore and net debt was Rs204 Crore.
Today, Nifty has support at 5,842 and resistance at 6,027 and BSE Sensex has support at 19,521 and resistance at 20,189
Morning Call - Jan 17 2008
Market Grape Wine :
In House :
Nifty at a supp of 5879 & 5825 levels with resistance at 5992 and 6056 levels .
Buy : Intraday : AshokLey above 48.1 target 52 s/l 45.1
Buy : Intraday : UnionBank above 206 target 218 s/l of 202
Minor pull back expected .
Out House :
Markets at a support of 19591 & 19786 levels with resistance at 20102 & 20456 levels .
Buy : RIL & RPL
Buy : SBIN & KotakBank
Buy : NTPC & TorPower
Buy : Balrampur & BajajHind
Buy : Primesecurity & Geojit
Buy : IBUllsreal & IBullsFin
Buy : Adhunik & Sail
Buy : JSW & Centextile
Dark Horse : Adlab , REL , PrimeSec , Adhunik , GujNRE , Ibulreal , JpAsso , RIL & SBIN
Emaar MGF, J Kumar Infra, Reliance Power, Future Capital Holdings, Cords Cable
Future Capital Holdings 700 to 765 550 to 570
Reliance Power 405 to 450 300 to 320
J. Kumar Infraprojects 110 to 120 25 to 28
Cords Cable Ind. 125 to 135 30 to 32
Emaar MGF 725 to 850 350 to 375
Prediction pains, knowledge gains
Prediction pains, knowledge gains
Those who have knowledge, don’t predict. Those who predict, don’t have knowledge.
After days of weakness, bulls will hope today is better. Predictions are that Reliance will beat expectations with RIL's bottomline expected to cross the $1bn mark. It may report Rs40bn gains from the sale of 4% stake in RPL. We see a much improved opening today. The markets will remain choppy during the day. US markets shed their gains and ended lower, and Asian markets, which gained around 1-1.5% earlier, are again in the red. We advocated leaving the indices alone for some time. Knowledge is power (we are not talking about Reliance Power) and this correction should give you an opportunity to use knowledge to get into fundamentally strong counters, which are available at better rates.
Global markets have been hit hard by a sudden selling deluge following fresh tremors on Wall Street linked to the ongoing subprime crisis. As if the selling pressure due to the frenzied rush for applying for the record-breaking Reliance Power IPO was not enough, the bulls received another jolt from global cues.
Given the selloff on Wall Street over the past few sessions and mounting concerns over the subprime-related losses, some experts are betting that the Fed could announce rate cuts ahead of its Jan. 29-30 meeting. If that does happen, there could be a relief rally. If not, the markets will remain subdued till the formal rate cuts. Wall Street is looking at a 50-75 bps reduction in key short-term rates. As always the accompanying statement from the FOMC will be crucial. As far as India is concerned, we will also have the RBI announce its quarterly policy review. No rate cuts are expected immediately, but even an indication could fire up the bulls.
Among the other key results include: Biocon, Emco, FT, Godrej Consumer, HCL Tech, HT Media, Hikal, IDBI, Indiabulls Financial, JBF Industries, KPIT Cummins, NDTV, Orchid Chem, Ranbaxy, REL, RNRL, S Kumars Nationwide and Wipro.
Bulls rely on RIL
It was a day of massive losses and significant recovery towards the end. Markets opened with a negative gap in early trades and continued to lose ground on back of global sell-off and all round selling on the bourses. However, markets witnessed a turnaround in the last hour as benchmark Sensex recovered over 400 points and Nifty index recouped almost 100 points from their respective low. Finally, 30-share Sensex closed at 19,868 losing 382 points and Nifty lost 138 points to close at 5,935.
Southern Ispat was locked at 5% upper circuit to Rs36.75 after the company announced that it approved merger of Kerala Sponge. The scrip touched an intra-day high of Rs36.75 and a low of Rs36.70 and has recorded volumes of over 91,000 shares on NSE.
Videocon Industries lost 1% to Rs602. Reports stated that the company was looking to venture into the grocery and retailing space through cash & carry format across the country. The scrip touched an intra-day high of Rs614 and a low of Rs580 and recorded volumes of over 6,00,000 shares on NSE.
Jet Airways dropped 1.8% to Rs887. Kingfisher and low cost carriers have affected the company’s market share. Jet airways share fell to 22.6% in 2007 from 31.2% in 2006 whereas the Kingfisher group together accounted for 29.3% share in 2007 from last years 26.8% reports stated. The scrip touched an intra-day high of Rs903 and a low of Rs879 and recorded volumes of over 37,000 shares on NSE.
ITC was down 3.4% to Rs208. According to reports the company was setting up a new cigarette manufacturing facility in Pune and also the Food Business Division (FBD) of the company would set up its second manufacturing facility in Pune for a total investment of Rs3.50bn. The scrip touched an intra-day high of Rs216 and a low of Rs201 and recorded volumes of over 88,00,000 shares on NSE.
Nicolas Piramal dropped 2.8% to Rs342. Reports stated that the company’s subsidiary wellspring entered into pact with Dr. L.H. Hiranandani Hospital for complete outsourcing of Radiology Dept. The scrip touched an intra-day high of Rs347 and a low of Rs330 and recorded volumes of over 70,000 shares on NSE.
India Cements slipped by over 5% to Rs261. The company announced its Q3 result with net profit at Rs1.27bn Vs Rs797.8mn and revenue at Rs8.58bn Vs Rs5.44bn. The scrip touched an intra-day high of Rs272 and a low of Rs254 and recorded volumes of over 24,00,000 shares on NSE.
Kavveri Telecom was locked at 5% upper circuit to Rs294.74 after the company announced that they purchased Software Wireless. The scrip touched an intra-day high of Rs294 and a low of Rs285 and recorded volumes of over 1,00,000 shares on NSE.
LIC Housing Finance dropped 2% to Rs365. The company declared its Q3 results with net profit at Rs1.06bn (up 37%) and revenue at Rs5.52bn (up 36%). The scrip touched an intra-day high of Rs376 and a low of Rs354 and recorded volumes of over 18,00,000 shares on NSE.
Welspun Gujarat declined by over 2.5% to Rs500. The company announced its Q3 result with net profit at Rs974mn (up 136%) and net sales at Rs10.36bn (up 40%). The scrip touched an intra-day high of Rs520 and a low of Rs480 and recorded volumes of over 13,00,000 shares on NSE.
What the FIIs are doing
FIIs were net sellers of Rs3.65bn (provisional) in the cash segment on Tuesday while the local institutions were net sellers of just Rs897.4bn.
In the F&O segment, they were net sellers to the tune of Rs14.92bn.
On Monday, FIIs were net buyers of just Rs1.74bn in the cash segment. Mutual Funds were net sellers of Rs5.51bn on the same day.
News Snippets:
Vedanta Resources is panning to invest over US$12.5bn in metals, mining and power generation by 2012. (FE)
REL gets nod from ministry of environment and forest for a 4,000MW power project in Maharashtra. (FE)
Infosys BPO expects to close three integrated IT-BPO deals in the range of US$50-150mn each in the next 3-6 months. (ET)
Wipro denies negotiations to takeover or merge with French IT company, Cap Gemini. (FE)
Maruti to roll out its Rs10-lakh luxury passenger car, Kizashi, in 2010. (ET)
NTPC to foray into power equipment manufacturing after getting a clearance from the board for a JV with Bharat Forge. (BS)
PTC raises Rs12bn through QIP. (ET)
JSW Steel gets 8 mining concessions in north of Chile. (BL)
Apollo Tyres is planning to set-up a greenfield passenger car radial tyre facility in Hungary. (FE)
Tata Steel enters in JV with Oman-based Al Bahja group for development of Uyum limestone deposits at Salalah. (FE)
Infosys BPO to set-up a new unit for its foray in the domestic business. (FE)
M&M will invest Rs1bn to make diesel engine for Scorpio, to comply with the US emission norms. (FE)
National Fertilizers, RCF and KRIBHCO to form JV to explore the possibility of investments in nitrogenous, phosphatic and potassic sector. (FE)
Sterlite Energy is planning a pre-IPO placement of US$1bn in next couple of months. (DNA)
MTNL to invest Rs15bn to expand GSM and broadband operations. (BS)
NMDC likely to get Navratna status. (BL)
Simplex Infrastructure to foray into thermal power generation through a JV. (BL)
LIC Housing Finance plans to raise Rs3-4bn by issuing fresh shares to select investors in next 3-4 months. (DNA)
GHCL to expand soda ash capacity in India by 2,50,00 tpa by 2010. (DNA)
Deccan plans to launch international flights from August. (BS)
Gitanjali Gems forms five wholly-owned subsidiaries for developing SEZs. (DNA)
Royal Orchid Hotels to open its first Ramada brand hotel in India by April. (FE)
The Government is likely to confer Navratna Status to CONCOR soon. (FE)
Hindustan Sanitaryware to foray into home interior solutions retail business. (BL)
Mahindra Holiday & Resorts to offer 1% stake to Jacob Ballas India fund through a private placement for around US$10mn. (FE)
The annual export target of US$160bn is likely to be reduced to US$150bn on account of the sharp appreciation in the rupee. (BS)
Apparel exports register a decline of 14% in 2007. (FE)
Finance Ministry is considering cutting import duties on ferro nickel from present 5% to 2%. (ET)
No BSNL IPO
The Communication and IT Minister’s plans for getting Bharat Sanchar Nigam Ltd listed on the bourses may go awry, with the employees union threatening to go on an indefinite strike from February 26 to protest the stake sale.
The issue has also taken political contours with the Communist Party of India (Marxist) saying that selling stakes in profit making companies is against the Common Minimum Programme of the UPA Government.
Top BSNL officials said that there could be a rethink on the proposal given the severe opposition. “The Department of Telecom will review the proposal. It will be difficult to push through the stake sale given the opposition from the company employees. We don’t expect it to happen very soon.”
On Monday, the Communications Minister, Mr A. Raja, had revealed that an initial public offering by BSNL was being considered. As per the plan, which was announced by BSNL officers at a press conference, about 10 per cent stake in the company is to be offloaded to raise about $10 billion.
‘Protest unnecessary’
Senior DoT officials, however, said that the protest was unnecessary as the Government had never said that it had decided to disinvest stake in BSNL. “It is only at a proposal stage and it has been categorically said that a final decision will be taken by DoT after weighing all the issues, including concerns of the employees,” said a DoT official.
The BSNL employees union said that it will issue a notice to the Government on January 24 declaring its intent to go on an indefinite strike. “The Government is playing into the hands of the private sector by considering such a move. This is an issue that we are not prepared to agree, come what may,” said Mr V.A.N. Namboodiri, Convenor, BSNL Union Joint Forum.
CPI (M) opposed
Meanwhile, the CPI (M) Polit Bureau issued a statement which said, “CPI (M) strongly opposes the proposal for its disinvestment. It calls upon the UPA Government to desist from such a move, which will be detrimental to BSNL and public interest.”
Via BL
Indus Fila
We recommend a buy in Indus Fila at current market price. It is evident form the weekly chart of Indus Fila that the stock has been steadily trending up since its IPO (March 2007). The stock broke out of a sideways consolidation range between Rs 190 and Rs 240 in November 2007 with a breakaway gap.
The weekly momentum indicator is featuring in the bullish zone and the daily momentum indicator is rising towards this zone. On the downside, the immediate support for the stock is at Rs 310 and the subsequent support is at Rs 270 levels. The stock is currently trading well above the 50-day moving average line and is likely to cross over the 21-day day moving average line. The short-term investors can buy the stock while keeping the stop-loss at Rs 320. We expect the stock to move up to the immediate resistance level of Rs 390 in the short-term. A conclusive breakthrough of this resistance level would lead the stock to a new life high.
Via Businessline
Bullion metals turn pale
Gold and silver prices drop as dollar strengthens for first time in five days
Precious metals dropped for the second consecutive day today, Wednesday, 17 January, 2008. Prices eased today further after the greenback strengthened against its rivals. Crude prices also slipped by more than a dollar today. Silver prices also slipped today.
Gold generally moves in the opposite direction of the U.S. currency. Gold, as a dollar-denominated commodity, suffers from dollar strength.
Comex Gold for February delivery today fell $20.60 (2.3%) to close at $882 an ounce on the New York Mercantile Exchange. Yesterday, during intraday trading prices rose as high as $916.1/ounce, but the slipped. This year, prices have gained 5.2% till date.
Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices. Rising crude increases inflationary pressures and vice versa. On the other hand strong dollar reduces the appeal of the metal as alternate source of investment.
Before today and yesterday, gold had struck consecutive record highs for six consecutive sessions. Prices closed above the $900 mark for the first time on Monday, 14 January, 2008.
Comex Silver futures for March delivery fell 40.5cents (2.5%) to $15.895 an ounce. Silver has gained 6.5% in 2008. The metal had climbed 15.5% in FY 2007. The metal also has gained for seven straight years.
Gold witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.
In the currency market today, the dollar index, which tracks the value of the greenback against a basket of other major currencies, rose for the first time in five days, up 1% to 76.3 after better-than-expected U.S. output data. The dollar rose as much as 1.4% against the euro.
In the energy market today, crude oil fell to a four-week low after a U.S. Energy Department report showed that supplies rose more than expected. Crude oil fell by $1.6 (1.8%) to close at $90.84 a barrel.
Last week, Federal Reserve Chairman, Ben Bernanke said that U.S. central bank is struggling with a deteriorating economy brought on by a struggling housing market, high energy prices and a weaker stock market. To help situation from worsening further, he hinted that more interest rate cuts are on the way.
Gold had climbed 31% in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record.
At the MCX, gold prices for February delivery closed lower by Rs 189 (1.7%) at Rs 11,182 per 10 grams. Prices rose to a high of Rs 11,361 per 10 grams and fell to a low of Rs 11,102 per 10 grams during the day’s trading.
At the MCX, silver prices for March delivery closed Rs 343 (1.6%) lower at Rs 20,554/Kg. Prices opened at Rs 20,880/kg and fell to a low of Rs 20,412/Kg during the day’s trading.
Crude sheds more than $1
US crude inventories rise for the first time in nine weeks
Crude prices fell by more than $1/barrel today, Wednesday, 16 January, 2008. Price slipped after Energy Department reported that crude stockpiles rose more than expected for the first time in nine weeks.
Crude-oil futures for light sweet crude for February delivery today closed at $90.84/barrel (lower by $1.06/barrel or 1.2%) on the New York Mercantile Exchange. Prices are 77% higher than a year ago. Last week, crude prices gained $5.3 (5.4%).
Crude had ended FY 2007 substantially higher by $35 or 57%. It was crude’s biggest yearly gain in five years.
As per the weekly inventory report by the EIA, U.S. crude inventories rose for the first time in nine weeks, up by 4.3 million barrels to 287.1 million barrels in the week ending 11 January. U.S. crude-oil imports averaged 10.4 million barrels a day last week, up 583,000 barrels a day from the previous week. U.S. refineries operated at 87.1% of their operable capacity last week, down from the previous week's 91.3%.
EIA also reported that total commercial petroleum inventories, which include motor gas, heating oil, and crude oil, increased by 3.6 million barrels to 970.1 million barrels last week, which is about one and half months of U.S. consumption. Out of this, U.S. gasoline inventories rose 2.2 million barrels in the latest week, while distillate stocks grew 1.1 million barrels.
Brent crude oil for February settlement today fell $1.23 (1.4%) to $89.75 on the London-based ICE Futures Europe exchange. The London benchmark rose 54% in FY 2007, the most since 1999 when prices more than doubled.
Natural gas, gasoline and heating oil – all register drop
Natural gas in New York declined on expectations a government report tomorrow will show that U.S. supplies are adequate. Gas for February delivery fell 6.3 cents (0.8%) to settle at $8.133 per million British thermal units.
Against this backdrop, February reformulated gasoline fell 5.48 cents to $2.2544 a gallon and February heating oil slid 4.94 cents to $2.4978 a gallon.
Members of the OPEC left production targets unchanged at the 5 December meeting in Abu Dhabi. The group, which produces 40% of the world's oil, will review output at a 1 February, 2008 meeting in Vienna.
At the MCX, crude oil for January delivery closed at Rs 3,609/barrel, higher by Rs 27 (0.75%) against previous day’s close. Natural gas for December delivery closed at Rs 319.2/mmtbu, higher by Rs 1.3/mmtbu (0.2%).
Tomorrow, EIA will report the inventory status of natural gas inventories for week ended 11 January, 2008. Market is expecting a drop of 60-70 billion cubic feet.
RNRL, NTPC & RCOM January 2008 futures at premium
Turnover increases
Nifty January 2008 futures were at 5950, at premium of 14.25 points as compared to spot closing of 5935.75.
The NSE futures & options (F&O) segment turnover was Rs 80,606.24 crore, which was higher than Rs 65,569.15 crore on Tuesday, 15 January 2008.
Reliance Natural Resources (RNRL) January 2008 futures were at premium, at 221.35, compared to the spot closing of 215.90.
NTPC (NTPC) January 2008 futures were at premium, at 262.90, compared to the spot closing of 258.45.
Reliance Communication (RCOM) January 2008 futures were at premium, at 739.85, compared to the spot closing of 731.95.
In the cash market, the S&P CNX Nifty lost 138.50 points or 2.28% at 5935.75.
Reliance Power - Allotment - Subscription Details - Day 2
| Sr.No. | Category | No.of shares offered/reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 136800000 | 2831032395 | 20.6947 |
| 1(a) | Foreign Institutional Investors (FIIs) | 2354462700 | ||
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | 476217900 | ||
| 1(c) | Mutual Funds | 0 | ||
| 1(d) | Others | 351795 | ||
| 2 | Non Institutional Investors | 22800000 | 158924280 | 6.9704 |
| 2(a) | Corporates | 130407300 | ||
| 2(b) | Individuals (Other than RIIs) | 27165885 | ||
| 2(c) | Others | 1351095 | ||
| 3 | Retail Individual Investors (RIIs) | 68400000 | 301402410 | 4.4065 |
| 3(a) | Cut Off | 287285520 | ||
| 3(b) | Price Bids | 14116890 |
Future Capital Holdings Allotment - Subscription Details
| Sr.No. | Category | No.of shares offered/reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 3853680 | 696444960 | 180.7221 |
| 1(a) | Foreign Institutional Investors (FIIs) | 459696056 | ||
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | 152522296 | ||
| 1(c) | Mutual Funds | 78840984 | ||
| 1(d) | Others | 5385624 | ||
| 2 | Non Institutional Investors | 642280 | 54196568 | 84.3815 |
| 2(a) | Corporates | 29833672 | ||
| 2(b) | Individuals (Other than RIIs) | 22877448 | ||
| 2(c) | Others | 1485448 | ||
| 3 | Retail Individual Investors (RIIs) | 1926840 | 106397672 | 55.2187 |
| 3(a) | Cut Off | 101465992 | ||
| 3(b) | Price Bids | 4931680 |
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