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Wednesday, February 06, 2008
Kohlberg Kravis Roberts invests in Bharti Infratel
Bharti Infratel, a wholly owned subsidiary of India`s largest mobile telephony service provider, Bharti Airtel, announced today that the leading private equity firm Kohlberg Kravis Roberts & Co. (KKR) has agreed to invest USD 250 million in Bharti Infratel. The investment will be made by KKR`s Asia dedicated private equity fund and its global private equity fund.
This is in addition to the investment of USD 1 billion in Bharti Infratel by leading international investors Temasek Holdings, The Investment Corporation of Dubai (ICD) Goldman Sachs, Macquarie, AIF Capital, Citigroup & India Equity Partners (IEP) in December 2007.
The enterprise valuation of Bharti Infratel will be in the range of USD 10 to 12.5 billion with the final valuation to be determined on the basis of Bharti Infratel`s actual operating performance in FY 2008-09. This investment reinforces the confidence of leading global investors in the Indian telecom sector, which is now the fastest growing telecom market in the world, and the Bharti Group. It is also an endorsement of the Indian Governments visionary policy on sharing of passive infrastructure.
Bharti Infratel owns over 20,000 sites and holds an approximately 42% stake in Indus Towers, the recently announced joint venture between Bharti, Vodafone and Idea, which has over 70,000 sites. Bharti Infratel and Indus Towers will provide passive infrastructure services to all wireless telecom operators in India on a non-discriminatory basis. Sharing of passive infrastructure
results in capex and opex savings and higher capital efficiency for all wireless operators, enabling quicker roll out of services, especially in rural areas, thus benefiting millions of people across India, the company said in a release.
Shares of the company declined Rs 34.95, or 3.73%, to trade at Rs 901. The total volume of shares traded was 325,373 at the BSE. (1.12 p.m, Wednesday)
FII buying slows down
Inflow of Rs 576.90 crore on 5 February 2008
Foreign institutional investors (FIIs) bought shares worth net Rs 576.90 crore on Tuesday, 5 February 2008, compared to their buying of Rs 3810.70 crore on Monday, 4 February 2008.
FII inflow of Rs 576.90 crore on 5 February 2008 was a result of gross purchases of Rs 2918.40 crore and gross sales Rs 2341.50 crore. The 30-share BSE Sensex rose a meager 2.84 points or 0.02% at 18,663.16 on that day.
FII inflow in February 2008 totaled Rs 2028.50 crore (till 5 February 2008). FII outflow in calendar year 2008 totaled Rs 11,007.10 crore (till 5 February 2008).
There are a total of 1,284 FIIs registered with the Securities & Exchange Board of India (Sebi).
Nifty February 2008 futures at discount
Turnover in F&O segment increases
Nifty February 2008 futures were at 5280, at a discount of 42.55 points as compared to spot closing of 5322.55.
The NSE's futures & options (F&O) segment turnover was Rs 42,234.95 crore, which was higher than Rs 31,121.35 crore on Tuesday, 5 February 2008.
Reliance Capital (RCL) February 2008 futures were at discount, at 1963.10, compared to the spot closing of 1964.55.
Reliance Petroleum (RPL) February 2008 futures were at discount, at 173.25, compared to the spot closing of 174.35.
State Bank of India (SBI) February 2008 futures were at discount, at 2180, compared to the spot closing of 2182.45.
In the cash market, the S&P CNX Nifty lost 161.35 points or 2.94% at 5322.55.
EMAAR MGF Subscription - Issue Extended
| Sr.No. | Category | No. of times of total meant for the category | ||
| 1 | Qualified Institutional Buyers (QIBs) | 0.8737 | ||
| 1(a) | Foreign Institutional Investors (FIIs) | |||
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | |||
| 1(c) | Mutual Funds | |||
| 1(d) | Others | |||
| 2 | Non Institutional Investors | 0.9843 | ||
| 2(a) | Corporates | |||
| 2(b) | Individuals (Other than RIIs) | |||
| 2(c) | Others | |||
| 3 | Retail Individual Investors (RIIs) | 0.4143 | ||
| 3(a) | Cut Off | |||
| 3(b) | Price Bids |
BSE 100 Stocks - Off their highs
Company Name | Last Price | 52-wk High | %Loss* |
| Tech Mahindra | 727.05 | 2049.80 | -64.53 |
| I-Flex Solution | 964.05 | 2630.00 | -63.34 |
| Patni Computer | 214.05 | 572.95 | -62.64 |
| Essar Oil | 145.50 | 360.00 | -59.58 |
| Reliance Natural | 115.55 | 249.70 | -53.72 |
| Reliance Petrol | 146.70 | 295.00 | -50.27 |
| BF Utilities | 1691.30 | 3100.00 | -45.44 |
| MTNL | 120.05 | 219.45 | -45.30 |
| IOC | 444.90 | 809.90 | -45.07 |
| ACC | 722.55 | 1314.85 | -45.05 |
| Ashok Leyland | 32.45 | 57.90 | -43.96 |
| IDBI | 101.85 | 181.00 | -43.73 |
| Infosys | 1377.55 | 2439.00 | -43.52 |
| Hind Zinc | 548.55 | 969.00 | -43.39 |
| TCS | 799.30 | 1399.00 | -42.87 |
| GMR Infra | 157.55 | 268.70 | -41.37 |
| HPCL | 241.20 | 405.90 | -40.58 |
| India Cements | 200.55 | 333.00 | -39.77 |
| Power Finance | 179.20 | 297.40 | -39.74 |
| Mah and Mah | 611.10 | 1002.00 | -39.01 |
| Jindal Steel | 2060.50 | 3356.00 | -38.60 |
| Titan Industrie | 1103.90 | 1795.00 | -38.50 |
| Jaiprakash Asso | 315.50 | 510.00 | -38.14 |
| Wipro | 428.85 | 690.00 | -37.85 |
| Tata Tea | 630.95 | 1014.00 | -37.78 |
| Rel Capital | 1824.30 | 2925.00 | -37.63 |
| HCL Tech | 228.60 | 365.75 | -37.50 |
| UltraTechCement | 754.15 | 1204.95 | -37.41 |
| Financial Tech | 1930.50 | 3048.00 | -36.66 |
| Indiabulls | 651.60 | 1028.00 | -36.61 |
| Maruti Suzuki | 800.50 | 1252.00 | -36.06 |
| Unitech | 351.15 | 546.80 | -35.78 |
| Indian Hotels | 114.45 | 177.80 | -35.63 |
| JSW Steel | 894.60 | 1389.70 | -35.63 |
| MICO | 3801.35 | 5880.00 | -35.35 |
| Aban Offshore | 3591.60 | 5555.00 | -35.34 |
| Bajaj Auto | 2061.80 | 3171.90 | -35.00 |
| Reliance Energy | 1716.35 | 2631.70 | -34.78 |
| GlaxoSmithKline | 880.00 | 1340.00 | -34.33 |
| Sesa Goa | 2617.45 | 3969.00 | -34.05 |
| Tata Power | 1084.65 | 1641.00 | -33.90 |
| SAIL | 193.50 | 292.50 | -33.85 |
| Century | 844.00 | 1275.00 | -33.80 |
| Tata Chemicals | 286.05 | 431.00 | -33.63 |
| Sterlite Ind | 758.00 | 1140.00 | -33.51 |
| Cipla | 174.95 | 261.50 | -33.10 |
| Indiabulls Real | 569.35 | 847.80 | -32.84 |
| Hindalco | 150.40 | 223.30 | -32.65 |
| Tata Motors | 658.25 | 974.80 | -32.47 |
| Satyam | 354.65 | 524.90 | -32.43 |
| NTPC | 196.70 | 291.00 | -32.41 |
| VSNL | 529.70 | 783.00 | -32.35 |
| BHEL | 1985.20 | 2925.00 | -32.13 |
| Reliance Comm | 575.15 | 844.00 | -31.85 |
| Cummins | 320.00 | 462.80 | -30.86 |
| Tata Steel | 671.05 | 969.80 | -30.81 |
| Cairn India | 185.95 | 268.50 | -30.74 |
| ONGC | 962.35 | 1386.90 | -30.61 |
| Ranbaxy Labs | 340.60 | 490.00 | -30.49 |
| Crompton Greave | 315.70 | 454.00 | -30.46 |
| Adani Enterpris | 929.60 | 1335.00 | -30.37 |
| Union Bank | 164.05 | 234.80 | -30.13 |
| Grasim | 2859.70 | 4074.00 | -29.81 |
| Kotak Mahindra | 1009.55 | 1435.55 | -29.68 |
| United Spirits | 1540.00 | 2188.00 | -29.62 |
| Glenmark | 440.80 | 623.90 | -29.35 |
| DLF | 867.70 | 1225.00 | -29.17 |
| BPCL | 396.80 | 560.00 | -29.14 |
| Punj Lloyd | 418.30 | 589.10 | -28.99 |
| Dr Reddys Labs | 596.50 | 835.00 | -28.56 |
| Idea Cellular | 115.10 | 161.00 | -28.51 |
| IVRCL Infras | 411.85 | 575.00 | -28.37 |
| Ambuja Cements | 116.25 | 160.90 | -27.75 |
| AdityaBirlaNuvo | 1808.60 | 2502.00 | -27.71 |
| Zee Entertain | 270.00 | 372.95 | -27.60 |
| Bharat Elec | 1580.05 | 2180.00 | -27.52 |
| Reliance | 2358.05 | 3252.10 | -27.49 |
| Divis Labs | 1400.00 | 1930.00 | -27.46 |
| ABB | 1215.15 | 1670.00 | -27.24 |
| Bharat Forge | 284.00 | 389.75 | -27.13 |
| Hero Honda | 589.45 | 808.80 | -27.12 |
| GAIL | 408.05 | 555.00 | -26.48 |
| Bank of Baroda | 369.35 | 501.00 | -26.28 |
| Bharti Airtel | 849.30 | 1149.00 | -26.08 |
| Suzlon Energy | 344.60 | 460.00 | -25.09 |
| United Phos | 319.00 | 425.00 | -24.94 |
| IDFC | 177.45 | 235.00 | -24.49 |
| PNB | 546.90 | 721.00 | -24.15 |
| HDFC | 2480.30 | 3257.00 | -23.85 |
| Sun Pharma | 963.50 | 1265.00 | -23.83 |
| HUL | 186.25 | 244.10 | -23.70 |
| Axis Bank | 985.95 | 1291.00 | -23.63 |
| ICICI Bank | 1124.75 | 1465.00 | -23.23 |
| ITC | 183.95 | 239.40 | -23.16 |
| Siemens | 1739.00 | 2250.00 | -22.71 |
| Larsen | 3655.40 | 4670.00 | -21.73 |
| HDFC Bank | 1439.65 | 1825.00 | -21.12 |
| Nestle | 1313.00 | 1662.75 | -21.03 |
| Bank of India | 391.35 | 466.00 | -16.02 |
| SBI | 2159.10 | 2540.00 | -15.00 |
EMAAR - issue flops, IPO Grading flops too ..
Lackluster response from investors to initial public offering (IPO) of Emaar MGF Land, a joint venture between one of the world`s leading real estate companies, Emaar Properties PJSC of Dubai, and MGF Development of India, forced the company to extend closing date to February 11, supposed to close today. The company also lowered floor price to Rs 530 as against Rs 540. Now the revised offer price is between Rs 530 to Rs 630 a share. IPO received only 60% subscription till 4.00 pm today.
The issue has been assigned an IPO grading of 4 out of a possible 5 by the rating agency, Credit Analysis and Research (CARE), which reflects `Above Average` fundamentals of the company. The equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE) and National Stock Exchange (NSE).
Emaar MGF commenced its operations in India in February 2005 with the mission of being a real estate development company striving to develop and deliver unique integrated lifestyle and work place environments and planned developments. The primary business is the development of properties in the residential, commercial, retail and hospitality sectors.
In addition, it has also identified healthcare, education and infrastructure as business lines for future growth. Its operations span across various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution.
Midcapmania Short Term calls - Feb 6 2008
Indraprastha Medical Corporation Ltd - A risk free buy
by Uttam Saraf
Disclaimer - DP doesn't vouch for these calls
Midcapmania Multibaggers - Feb 6 2008
Buy Stone India @ 133.85 for a target of 270+ in medium term ( It is today the undisputed leader in locomotive brake systems and has a huge range of mechanical and electrical products for the railroad industry. Further it has fallen hard almost 50% from the highs made before this blood bath)
By Uttam Saraf
Disclaimer - DP doesn't vouch for these recommendations. Please do due research before investing
BSE Bulk Deals to Watch - Feb 6 2008
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
6/2/2008 500463 AVAYA GLOBAL SHREE CAPITAL SERVICES LTD S 95128 229.55
6/2/2008 505506 AXON INFOTEC ANMOL FINANCE COMPANY B 17000 59.97
6/2/2008 505506 AXON INFOTEC CHIRAG SECURITIES B 12000 59.95
6/2/2008 505506 AXON INFOTEC SANTOSH KUMAR KEJRIWAL SECURITIES PRIVATE LIMITED S 25000 60.00
6/2/2008 505506 AXON INFOTEC PARAS KUMAR JAIN S 16000 60.00
6/2/2008 500045 BELLA STE AL JMP SECURITIES PVT. LTD. S 2536702 6.84
6/2/2008 512332 BIRLA CAP PARI STOCK TRADING PVT. LTD B 200000 12.52
6/2/2008 512332 BIRLA CAP AYODHYAPATI INVESTMENT PVT. LTD B 267860 12.55
6/2/2008 512332 BIRLA CAP AMRUT SECURITIES LTD B 100000 12.52
6/2/2008 512332 BIRLA CAP NIRVED TRADERS PVT LTD S 450000 12.48
6/2/2008 532719 BL KASHYAP GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD B 327184 1750.00
6/2/2008 532719 BL KASHYAP J P M S L AC COPTHALL MAURITIUS INVESTMENT LTD S 327184 1750.00
6/2/2008 509486 CAPRIHAN IND BSMA LTD B 100000 75.00
6/2/2008 531682 CAT TECHNOL PRABHUDAS LILLADHER PVT. LTD. B 379425 10.08
6/2/2008 531682 CAT TECHNOL JMP SECURITIES PVT. LTD. B 565000 10.37
6/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 1536826 10.24
6/2/2008 531682 CAT TECHNOL PRABHUDAS LILLADHER PVT. LTD. S 359424 10.20
6/2/2008 531682 CAT TECHNOL JMP SECURITIES PVT. LTD. S 540000 10.42
6/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 1617316 10.16
6/2/2008 512624 CHANDRIK TRA GALA FINANCE AND INVESTMENT LTD S 32400 4.75
6/2/2008 526033 CRYSTAL SOFT RICHLINE FINVEST PVT LTD B 26404 9.97
6/2/2008 526033 CRYSTAL SOFT RICHLINE FINVEST PVT LTD S 51055 9.50
6/2/2008 532271 CYBERMAT INF EDELWEISS ESTATES P LTD B 629300 11.79
6/2/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. B 581604 11.50
6/2/2008 532271 CYBERMAT INF JMP SECURITIES PVT. LTD. B 989284 11.31
6/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 3120324 11.54
6/2/2008 532271 CYBERMAT INF EDELWEISS ESTATES P LTD S 625540 11.35
6/2/2008 532271 CYBERMAT INF PRABHUDAS LILLADHER PVT. LTD. S 535104 11.65
6/2/2008 532271 CYBERMAT INF JMP SECURITIES PVT. LTD. S 1026746 11.47
6/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 3120324 11.61
6/2/2008 531863 GEEKAY FINAN JOHN VAS B 30050 71.08
6/2/2008 508918 GREYCELLS EN PRIME SECURITIES LTD B 24000 164.00
6/2/2008 500183 HIM FUTR COM JMP SECURITIES PVT. LTD. S 3039753 28.65
6/2/2008 532240 INDIA NIPP E SHREE CAPITAL SERVICES LTD S 74461 151.50
6/2/2008 532926 JYOTHY LAB JYOTHI LABORATORIES LIMITED S 74020 800.00
6/2/2008 531784 KADAMB CONST BAI SAROJ S 30000 45.75
6/2/2008 512413 KHAITAN WVG VINAY SUDERSHAN GUPTA B 10000 64.68
6/2/2008 500256 LOK HOUSI CO MERRILL LYNCH CAPITAL MARKETS ESPANA S A SV B 349150 229.38
6/2/2008 515093 MADHAV MAR G SURBHI BAJORIA S 64145 70.00
6/2/2008 500264 MAFATLA INDU BHAMRIBAI BHAVARLAL JAIN B 25108 57.70
6/2/2008 526169 MULTIBASE 1 BSMA LTD B 100000 42.50
6/2/2008 531996 ODYSSEY CORP VINAY SUDERSHAN GUPTA S 30000 33.96
6/2/2008 532675 PRITHVI INFO PRADEEP PASARI B 100000 326.47
6/2/2008 530047 RAI SH REK M C S BUILDWELL PVT LTD B 25000 63.50
6/2/2008 532106 REI AGRO LIM CREDIT SUISSE SINGAPORE LIMITED B 235000 1025.00
6/2/2008 532106 REI AGRO LIM RAJAT FINVEST S 235000 1025.00
6/2/2008 532031 SARANG CHEMI MILAN DEVENDRAPRASAD PANDYA B 23353 5.00
6/2/2008 531703 TRIBHVAN HSG GIRRAJ ESTATE PVT LTD S 28500 29.00
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