India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Monday, September 01, 2008
Post Session Commentary - Sep 1 2008
Domestic market showed smart recovery during last trading hours and ended the day with marginal losses after trimming its earlier losses. Indian market opened on weak note tracking negative global cues. Further market stayed in negative territory on significant selling pressure and made smart recovery on selective buying from the banking and oil and gas space. The market gained some ground during final trade to end marginally lower on short covering. NSE Nifty ended above 4,300 mark and BSE Sensex around 14,500 level. From the sectoral front, recovery was led by Oil & Gas, Bank, Reality and FMCG stocks. However, Metal, Consumer Durables, Capital Goods and IT stocks were out of favour as witnessed most of the selling from these baskets. Midcap and Smallcap stocks also witnessed recovery as ended marginally lower. The market breadth was positive as 1329 stocks closed in green while 1255 stocks closed in red and 96 stocks remained unchanged.
The BSE Sensex closed lower by 66.02 points at 14,498.51 and NSE Nifty ended down by 11.35 points at 4,348.65. The BSE Mid Caps and Small Caps ended with losses of 0.31 points and 0.25 points at 5,741.98 and 6,891.39. The BSE Sensex touched intraday high of 14,547.41 and intraday low of 14,281.10.
Lossers from the BSE are Ranbaxy Lab (3.61%), Tata Steel (2.67%), Maruti Suzuki (2.56%), Bharti Airtel (2.50%), Reliance Com Ltd (1.71%), Infosys Tech (1.44%), HUL (1.41%), Tata Power(1.14%) and NTPC Ltd (1.11%).
The BSE Metal index plunged 133.91 points to close at 12,214.41. Lossers are Tata Steel (2.67%), NALCO (2.41%), Sesa Goa Ltd (2.05%), JSW SL (1.64%), Gujarat Nre C (1.58%) and Steel Atuhority (1.44%).
The BSE Consumer Durables index dropped 40.17 points to close at 3,800.62. Major lossers are Blue Star L (2.45%), Gitanjali Ge (1.73%), Rajesh Export (0.21%), Videocon Ind 0.77%) and Titan Ind (0.07%).
The BSE Capital Goods index lost 22.84 points to close at 11,863.78. Lossers are Jyoti Struct (2.56%), Siemens Ltd (1.99%), Havells India (1.94%), BSKF India (1.67%), eleocn Eng C (1.45%) and Elecon Eng C (1.07%)
The BSE Oil & Gas index closed higher 29.12 points at 9,688.58. Major gainers are essar Oil Ltd (3.80%), Reliance Pet (0.86%), Gail India (0.82%), ONGC (0.64%), Aban Offshore (0.63%) and Relaince (0.18%).
The BSE Bank index closed up 11.66 points at 7,021.35. Major gainers are Kotak Bank (0.27%), Allahabad Bank (1.43%), Federal bank (1.19%), ICICI Bank Ltd (1.03%) and IDBI Bank Ltd (0.12%).
Strong comeback
Taking lead from weak global markets, the 30-stock Sensex of the BSE started the day with a pessimistic note—142 points lower at the opening bell. The index remained subdued during the major part of the day and trade more than 150 points lower, as investors booked profits for the Friday’s surge. Metal, consumer durables and technology stocks took the major beating. The index faltered by afternoon and slipped to the day's low of 14,281—283 points below the previous close. While the market fluctuated sharply thereafter, firm bullish sentiment and strong buying in heavyweights and PSU stocks in late trades helped the Sensex erase most of its losses. The Sensex finally ended the session 0.45% or 66 points lower at 14,499. The Nifty slipped by 11 points at 4,349.
The market breadth was positive, as 50% stocks (1,331 stocks) advanced and 47% stocks (1,250 stocks) declined. Around 3% stocks (96 stocks) ended unchanged.
Eight of the 13 sectoral indices ended in the red. The BSE Metal dropped 1.08% at 12,214 followed by the BSE CD (down 1.05% at 3,800.62) and the BSE Teck (down 0.89% at 3,046). However, the BSE PSU gained 0.31% at 6,768, the BSE Oil & Gas, the BSE FMCG, the BSE Bankex and the BSE Reality closed with marginal gains.
Heavyweights led the fall in the Sensex. Ranbaxy Laboratories slipped by 3.61% at Rs499.80, Tata Steel slumped by 2.67% at Rs584.30, Maruti Suzuki India shed 2.56% at Rs650.40 and Bharti Airtel lost 2.50% at Rs816.25. While Reliance Communications, Infosys, Hindustan Unilever, Tata Power and NTPC were down by over 1% each.
Among the gainers ITC jumped 1.62% at Rs191.65, HDFC Bank gained 1.48% at Rs1,296.10, BHEL soared 0.90% at Rs1721.90, SBI rose by 0.88% at Rs1416 and Satyam Computer Services was up 0.85% at Rs423.40, while ONGC and ACC ended with modest gains.
On turnover front, over 3.31 crore Resurgere Mines & Minerals India shares changed hands on the BSE followed by Reliance Natural Resources (1.17 crore shares), Nutek India (65.53 lakh shares), Chambal Fertilisers & Chemicals (53.22 lakh shares) and Noida Toll Bridge Company (44.57 lakh shares).
BSE Bulk Deals to Watch - Sep 1 2008
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/9/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED B 71482 125.56
1/9/2008 532212 ARCHIES LTD MANSUKH STOCK BROKERS LTD B 34303 126.48
1/9/2008 532212 ARCHIES LTD MBL AND COMPANY LIMITED S 71482 126.16
1/9/2008 532212 ARCHIES LTD MANSUKH STOCK BROKERS LTD S 34303 127.17
1/9/2008 513059 G.S. AUTO YUVAK SHARE TRADING PVT.LTD. B 39485 88.61
1/9/2008 513059 G.S. AUTO ABN INDIA EQUITY RESEARCH PRIVATE LIMITED S 21137 88.09
1/9/2008 513059 G.S. AUTO SANGEETA PAREEKH S 50000 87.98
1/9/2008 513059 G.S. AUTO COMET INVESTMENT PVT LTD S 34186 91.12
1/9/2008 532326 INTENS TECH CITIGROUP GLOBAL MARKETS MAURITIUS PVT. LTD. S 200000 15.29
1/9/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD B 30737 29.41
1/9/2008 531602 KOFF BR PICT LAXMI CAP BROKING PVT LTD S 29769 29.57
1/9/2008 533015 NUTEK INDIA ADITYA S SHAH B 370726 202.43
1/9/2008 533015 NUTEK INDIA H.J.SECURITIES PVT.LTD. B 313882 205.46
1/9/2008 533015 NUTEK INDIA YUVAK SHARE TRADING PVT.LTD. B 94724 207.91
1/9/2008 533015 NUTEK INDIA ADITYA S SHAH S 269414 199.99
1/9/2008 533015 NUTEK INDIA H.J.SECURITIES PVT.LTD. S 313882 205.97
1/9/2008 533015 NUTEK INDIA YUVAK SHARE TRADING PVT.LTD. S 93724 207.50
1/9/2008 533017 RESURGERE PR VYAPAAR PRIVATE LIMITED B 149880 295.64
1/9/2008 533017 RESURGERE MARWADI SHARES AND FINANCE LIMITED B 266792 487.21
1/9/2008 533017 RESURGERE EUREKA STOCK AND SHARE BROKING SERVICES LIMITED B 449865 436.84
1/9/2008 533017 RESURGERE R M SHARES TRADING PVT LTD B 652444 424.76
1/9/2008 533017 RESURGERE B K SHAH CO B 397133 447.61
1/9/2008 533017 RESURGERE H.J.SECURITIES PVT.LTD. B 1855535 414.90
1/9/2008 533017 RESURGERE MAVI INVESTMENT FUND LTD B 600000 324.33
1/9/2008 533017 RESURGERE YUVAK SHARE TRADING PVT LTD B 267485 411.30
1/9/2008 533017 RESURGERE KHANDWALA TRADELINK B 192807 471.49
1/9/2008 533017 RESURGERE AMU SHARES AND SEC LTD B 176125 457.69
1/9/2008 533017 RESURGERE MARWADI SHARES AND FINANCE LIMITED S 266792 489.46
1/9/2008 533017 RESURGERE EUREKA STOCK AND SHARE BROKING SERVICES LIMITED S 449865 437.45
1/9/2008 533017 RESURGERE R M SHARES TRADING PVT LTD S 652444 431.81
1/9/2008 533017 RESURGERE B K SHAH CO S 396487 445.49
1/9/2008 533017 RESURGERE H.J.SECURITIES PVT.LTD. S 1855535 415.70
1/9/2008 533017 RESURGERE MEENAL NITISH THAKUR S 215283 417.20
1/9/2008 533017 RESURGERE YUVAK SHARE TRADING PVT LTD S 271086 413.70
1/9/2008 533017 RESURGERE KHANDWALA TRADELINK S 170821 464.83
1/9/2008 533017 RESURGERE AMU SHARES AND SEC LTD S 176125 459.54
1/9/2008 524636 S.S.ORGANICS AVINASH REDDY CH B 100000 8.74
1/9/2008 524636 S.S.ORGANICS ARYAVART SAVINGS UNIT LIMITED S 97600 8.71
1/9/2008 532765 USHER AGRO MANHARLAL NAROTTAMDAS SHAH B 148566 128.44
1/9/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED B 10551 120.41
1/9/2008 532360 VINTAGE CARD MANSUKH STOCK BROKERS LTD B 39821 120.19
1/9/2008 532360 VINTAGE CARD MANSUKH SECURITIES AND FINANCE LTD B 26852 119.97
1/9/2008 532360 VINTAGE CARD VIRAGKUMAR SURESH PATEL B 3000 117.92
1/9/2008 532360 VINTAGE CARD SANJAY GUPTA B 3200 116.95
1/9/2008 532360 VINTAGE CARD MATHEWS P K B 3000 119.63
1/9/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT.LTD. B 8329 123.10
1/9/2008 532360 VINTAGE CARD SETU SECURITIES PVT LTD S 20928 120.50
1/9/2008 532360 VINTAGE CARD MBL AND COMPANY LIMITED S 10551 120.68
1/9/2008 532360 VINTAGE CARD MANSUKH STOCK BROKERS LTD S 39821 119.99
1/9/2008 532360 VINTAGE CARD MANSUKH SECURITIES AND FINANCE LTD S 26852 119.93
1/9/2008 532360 VINTAGE CARD SANJAY GUPTA S 3200 119.75
1/9/2008 532360 VINTAGE CARD MATHEWS P K S 3000 122.30
1/9/2008 532360 VINTAGE CARD YUVAK SHARE TRADING PVT.LTD. S 10590 123.50
1/9/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED B 64049 300.55
1/9/2008 533011 VISHAL INFO MBL AND COMPANY LIMITED S 64049 300.56
NSE Bulk Deals to Watch - Sep 1 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-SEP-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,69026,128.36,-
01-SEP-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,34473,126.16,-
01-SEP-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,BUY,89455,125.85,-
01-SEP-2008,ARCHIES,Archies Limited,NAMAN SECURITIES & FINANCE PVT LTD,BUY,44432,129.96,-
01-SEP-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,BUY,51400,130.89,-
01-SEP-2008,DYNAMATECH,Dynamatic Tech. Ltd.,FIDELITY INVESTMENTS MANAGEMENT (HONG KONG) LTD A/C FID INVT,BUY,38500,1250.00,-
01-SEP-2008,EVERONN,Everonn Systems India Lim,P R B SECURITIES PRIVATE LTD,BUY,105197,564.67,-
01-SEP-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,206117,199.89,-
01-SEP-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,212020,194.48,-
01-SEP-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,102399,207.22,-
01-SEP-2008,NUTEK,Nu Tek India Limited,MANSUKH SECURITIES & FINANCE LTD,BUY,119408,194.90,-
01-SEP-2008,NUTEK,Nu Tek India Limited,PRASHANT JAYANTILAL PATEL,BUY,203962,205.99,-
01-SEP-2008,NUTEK,Nu Tek India Limited,RASHI EQUISEARCH PVT. LTD.,BUY,94302,203.73,-
01-SEP-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,BUY,343041,201.44,-
01-SEP-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,BUY,188951,206.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,AMBIT SECURITIES BROKING PVT. LTD.,BUY,464897,439.64,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,447093,437.31,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,B K SHAH CO KETAN BHAILAL SHAH,BUY,446569,415.39,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CHOKHANI SECURITIES LTD,BUY,174107,453.62,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CPR CAPITAL SERVICES LTD.,BUY,302814,439.51,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DINDAYAL BIYANI STOCK BROKERS LTD,BUY,158311,352.94,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DIPAN MEHTA SHARE & STOCK BROKERS PVT. LTD.,BUY,291692,434.76,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DKG SECURITIES PVT. LTD.,BUY,200000,297.71,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,G RAMAKRISHNA,BUY,174301,456.70,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HARBUX SINGH SIDHU,BUY,723599,452.71,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HIMAL K PARIKH-HUF,BUY,190315,438.16,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,JAYESH HARILAL FURIA,BUY,177223,454.59,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,1347901,436.69,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KHANDWALA TRADELINK CO,BUY,393936,474.17,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KOTECHA NIRMAL N,BUY,153401,507.75,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,880896,468.06,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MANIPUT INVESTMENTS PVT LTD,BUY,647746,446.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MARWADI SHARES AND FINANCE LIMITED,BUY,308051,475.38,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MITHALI MUKESH GUDEKAR,BUY,677537,351.07,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,NAMAN SECURITIES & FINANCE PVT LTD,BUY,351925,428.75,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,OPG SECURITIES PVT. LTD.,BUY,337314,458.22,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,P R B SECURITIES PRIVATE LTD,BUY,657224,483.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRAMESH DILIP WAGHELA,BUY,233557,470.31,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRASHANT JAYANTILAL PATEL,BUY,1037591,465.84,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PUJA TAPARIA,BUY,295643,473.44,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R APPALA RAJU,BUY,278000,419.26,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R.M. SHARE TRADING PVT LTD,BUY,977648,441.00,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHUL DOSHI,BUY,160364,443.56,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,TRANSGLOBAL SECURITIES LTD.,BUY,781581,426.12,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,YUVAK SHARE TRADING PVT LTD,BUY,676536,421.62,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,BUY,26836,118.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,BUY,5430,118.26,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,BUY,10766,120.89,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANIL PILLAI ,BUY,4532,120.47,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANJI PRASAD GAYAM,BUY,6700,119.98,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ASHISA KUMARI PANIGRAHI,BUY,5232,117.64,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,BESTO TRADE COM PVT LTD,BUY,4870,122.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,BUY,5964,119.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CLEAN FINANCE & INVESTMENT LTD,BUY,7500,123.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,BUY,24759,119.74,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DEEPAK B DESAI,BUY,3610,118.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DODDALA RADEESH,BUY,4000,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,8892,119.93,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G SANGEETHA,BUY,5000,122.71,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G UPENDRANATH,BUY,17742,121.66,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GULAINI POOJA,BUY,3285,115.50,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUMMADY PITHCHAIAH CHOWDARY,BUY,4695,119.13,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUPTA NEHA,BUY,6224,118.26,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,BUY,7453,115.39,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAINTMAN PORTFOLIO PROP. MANISH KAINTURA,BUY,5500,121.62,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAMAL KUMAR KABRA,BUY,8000,121.96,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KUSHUM LATA GOYEL,BUY,3000,122.66,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,LATHA.R,BUY,4122,120.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAHENDRA RAJA. C,BUY,3000,122.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANISH SAINI,BUY,3000,119.10,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,BUY,62178,119.95,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAYANK DUBEY,BUY,902,117.90,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,BUY,30650,120.42,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENA KUMARI,BUY,5286,117.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENAKSHI DEWAN,BUY,3600,119.71,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,BUY,6473,121.43,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MUDUPULAVEMULA SURENDRANADHA REDDY,BUY,3248,119.94,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,BUY,8758,120.41,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,BUY,11821,121.76,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PACE FINANCIAL SERVICES,BUY,10000,122.56,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PASHUPATI CAPITAL SERVICES PVT. LTD.,BUY,5604,119.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,BUY,2500,122.24,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,BUY,6976,119.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRASHANT GOYAL,BUY,3002,120.01,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,BUY,12781,121.88,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,BUY,4022,117.87,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,BUY,3000,119.08,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,BUY,1543,123.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHAREKHAN INT.SHORTAGE A/C,BUY,3039,120.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHREE RIDDHI SIDDHI INVESTMENTS,BUY,3800,119.13,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SREEDEVI A,BUY,5263,119.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SURESH BANSAL,BUY,5701,120.83,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SUSHIL KUMAR JOHAR,BUY,5057,122.82,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TAHEMINA R MOMIN,BUY,3200,117.05,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,BUY,14746,119.08,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,U J SECURITIES PVT. LTD.,BUY,3969,121.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,BUY,3021,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,BUY,18249,123.14,-
01-SEP-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,BUY,101089,310.63,-
01-SEP-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,BUY,58916,300.97,-
01-SEP-2008,VITLINFO,Vishal Information Techno,S SIVAKUMAR,BUY,63549,312.79,-
01-SEP-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,BUY,70069,313.25,-
01-SEP-2008,ARCHIES,Archies Limited,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,69026,128.58,-
01-SEP-2008,ARCHIES,Archies Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,34473,125.55,-
01-SEP-2008,ARCHIES,Archies Limited,MBL & COMPANY LTD.,SELL,89451,125.65,-
01-SEP-2008,ARCHIES,Archies Limited,NAMAN SECURITIES & FINANCE PVT LTD,SELL,43946,130.87,-
01-SEP-2008,ARCHIES,Archies Limited,YUVAK SHARE TRADING PVT LTD,SELL,49800,131.13,-
01-SEP-2008,DYNAMATECH,Dynamatic Tech. Ltd.,NEW VERNON ASSET MANAGEMENT LTD A/C NEW VERNON INDIA LIMITED,SELL,38500,1250.00,-
01-SEP-2008,EVERONN,Everonn Systems India Lim,P R B SECURITIES PRIVATE LTD,SELL,104797,565.05,-
01-SEP-2008,NUTEK,Nu Tek India Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,206117,200.21,-
01-SEP-2008,NUTEK,Nu Tek India Limited,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,212020,195.10,-
01-SEP-2008,NUTEK,Nu Tek India Limited,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,102399,207.27,-
01-SEP-2008,NUTEK,Nu Tek India Limited,MANSUKH SECURITIES & FINANCE LTD,SELL,119408,195.64,-
01-SEP-2008,NUTEK,Nu Tek India Limited,PRASHANT JAYANTILAL PATEL,SELL,203962,206.16,-
01-SEP-2008,NUTEK,Nu Tek India Limited,RASHI EQUISEARCH PVT. LTD.,SELL,40861,200.13,-
01-SEP-2008,NUTEK,Nu Tek India Limited,TRANSGLOBAL SECURITIES LTD.,SELL,340041,202.03,-
01-SEP-2008,NUTEK,Nu Tek India Limited,YUVAK SHARE TRADING PVT LTD,SELL,184951,207.04,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,AMBIT SECURITIES BROKING PVT. LTD.,SELL,464951,441.08,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,447093,434.84,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,B K SHAH CO KETAN BHAILAL SHAH,SELL,446566,409.00,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CHOKHANI SECURITIES LTD,SELL,174107,432.40,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,CPR CAPITAL SERVICES LTD.,SELL,302814,439.82,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DINDAYAL BIYANI STOCK BROKERS LTD,SELL,158311,346.50,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DIPAN MEHTA SHARE & STOCK BROKERS PVT. LTD.,SELL,291692,434.68,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,DKG SECURITIES PVT. LTD.,SELL,97000,515.32,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,G RAMAKRISHNA,SELL,174301,455.10,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HARBUX SINGH SIDHU,SELL,723599,453.25,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,HIMAL K PARIKH-HUF,SELL,190315,419.53,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,INDUSINO MAURITUS LTD.,SELL,164362,287.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,JAYESH HARILAL FURIA,SELL,177223,454.61,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,1347901,437.51,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KHANDWALA TRADELINK CO,SELL,415330,477.19,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,KOTECHA NIRMAL N,SELL,18401,513.14,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,880896,468.94,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MANIPUT INVESTMENTS PVT LTD,SELL,647746,446.87,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MARWADI SHARES AND FINANCE LIMITED,SELL,308051,475.62,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,MITHALI MUKESH GUDEKAR,SELL,428776,463.56,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,NAMAN SECURITIES & FINANCE PVT LTD,SELL,351925,425.49,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,OPG SECURITIES PVT. LTD.,SELL,337312,458.59,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,P R B SECURITIES PRIVATE LTD,SELL,657224,483.85,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRAMESH DILIP WAGHELA,SELL,233557,470.19,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PRASHANT JAYANTILAL PATEL,SELL,1037591,464.85,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,PUJA TAPARIA,SELL,295643,480.37,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R APPALA RAJU,SELL,278000,417.06,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,R.M. SHARE TRADING PVT LTD,SELL,977648,436.23,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHN AND BODMER,SELL,165000,529.34,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,RAHUL DOSHI,SELL,160364,450.65,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,TRANSGLOBAL SECURITIES LTD.,SELL,781581,420.21,-
01-SEP-2008,RESURGERE,Resurgere Mines & Mineral,YUVAK SHARE TRADING PVT LTD,SELL,676536,420.52,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ADROIT FINANCIAL SERVICES PVT LTD,SELL,26836,119.07,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ALOK MAHESHWARI,SELL,5430,118.43,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,AMBIT SECURITIES BROKING PVT. LTD.,SELL,10766,120.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANIL PILLAI ,SELL,4532,121.42,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ANJI PRASAD GAYAM,SELL,6700,119.25,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,ASHISA KUMARI PANIGRAHI,SELL,5232,120.59,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,BESTO TRADE COM PVT LTD,SELL,4870,121.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CAPITAL WIZARD STOCK BROKING PRIVATE LIMITED,SELL,5964,119.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CLEAN FINANCE & INVESTMENT LTD,SELL,5000,120.94,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,CPR CAPITAL SERVICES LTD.,SELL,24759,119.59,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DEEPAK B DESAI,SELL,3610,118.31,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,DODDALA RADEESH,SELL,4000,123.27,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,8892,120.06,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G SANGEETHA,SELL,5000,116.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,G UPENDRANATH,SELL,17742,120.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GULAINI POOJA,SELL,3285,122.00,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUMMADY PITHCHAIAH CHOWDARY,SELL,4695,119.56,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,GUPTA NEHA,SELL,6224,119.02,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,JAGJIT SINGH,SELL,7453,117.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAINTMAN PORTFOLIO PROP. MANISH KAINTURA,SELL,5500,120.80,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KAMAL KUMAR KABRA,SELL,2000,121.30,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,KUSHUM LATA GOYEL,SELL,1139,121.81,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,LATHA.R,SELL,4122,119.18,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAHENDRA RAJA. C,SELL,3000,114.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANISH SAINI,SELL,3000,119.29,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MANSUKH SECURITIES & FINANCE LTD,SELL,62178,120.40,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MAYANK DUBEY,SELL,3902,116.72,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MBL & COMPANY LTD.,SELL,30739,120.58,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENA KUMARI,SELL,5286,116.63,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MEENAKSHI DEWAN,SELL,1900,119.67,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MITHUN SECURITIES PVT. LTD.,SELL,6473,121.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,MUDUPULAVEMULA SURENDRANADHA REDDY,SELL,3248,119.65,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,N RAVI KUMAR,SELL,8758,121.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,NAMAN SECURITIES & FINANCE PVT LTD,SELL,6296,117.54,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PACE FINANCIAL SERVICES,SELL,10000,119.65,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PASHUPATI CAPITAL SERVICES PVT. LTD.,SELL,5604,118.86,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PAWAN NATANI,SELL,3500,116.92,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRAGATI PAPER MILLS LTD,SELL,6976,121.38,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,PRASHANT GOYAL,SELL,3002,119.03,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAHUL DOSHI,SELL,4010,118.04,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAJIV SOBTI,SELL,20713,120.12,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,RAO KATAKAM VENKATESH,SELL,4022,118.95,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SABADRA HARAKCHAND KACHARDAS,SELL,3000,120.77,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SETU SECURITIES LTD,SELL,6000,119.75,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SHREE RIDDHI SIDDHI INVESTMENTS,SELL,1800,118.36,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SREEDEVI A,SELL,5263,119.21,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SURESH BANSAL,SELL,6900,118.72,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,SUSHIL KUMAR JOHAR,SELL,1261,123.60,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TAHEMINA R MOMIN,SELL,3200,118.46,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,TRANSGLOBAL SECURITIES LTD.,SELL,14746,119.45,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,U J SECURITIES PVT. LTD.,SELL,3969,120.39,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,URJA INVESTMENT PVT. LTD.,SELL,3021,120.97,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,V.K. KUMRA,SELL,3143,116.69,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,VIRAGKUMAR SURESHBHAI PATEL,SELL,3000,123.29,-
01-SEP-2008,VINCARDS,Vintage Cards & Creations,YUVAK SHARE TRADING PVT LTD,SELL,18848,123.34,-
01-SEP-2008,VITLINFO,Vishal Information Techno,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD,SELL,101089,311.58,-
01-SEP-2008,VITLINFO,Vishal Information Techno,MBL & COMPANY LTD.,SELL,58916,301.33,-
01-SEP-2008,VITLINFO,Vishal Information Techno,S SIVAKUMAR,SELL,63549,312.17,-
01-SEP-2008,VITLINFO,Vishal Information Techno,YUVAK SHARE TRADING PVT LTD,SELL,61163,312.78,-
Resurgere Mines & Minerals spurts on debut
Settles at Rs 524.35 on BSE, a 94.20% premium over IPO price of Rs 270
Resurgere Mines & Minerals settled at Rs 524.35 on BSE, a 94.20% premium over initial public offer price of Rs 270. The counter clocked huge volumes of 3.31 crore shares on BSE.
Resurgere Mines & Minerals India debuted at Rs 272.05 on BSE, a marginal premium of 0.75% over its issue price of Rs 270. The stock hit a high and low of Rs 562.80 and Rs 272.05.
The current price of Rs 524.35 discounts its FY 2008 EPS of Rs 23.32, by a PE multiple of 22.48.
The company raised Rs 120 crore rupees through its 44.5 lakh share initial public offer (IPO) in a price band of Rs 263 and Rs 272 a share. The IPO was oversubscribed 1.16 times. The issue price was later fixed at Rs 270 per share. The issue opened for subscription on 11 August 2008 and closed on 13 August 2008.
Resurgere Mines & Minerals India is in the business of extraction, processing and sale of mineral products and exploration and development of mining assets. The product range includes various forms of iron ore such as Lump ore, Size ore, Calibrated Lump ore (CLO) and iron ore fines etc. and bauxite. The company sells all these products domestically except iron ore fines, which the company exports to China.
The company will utilise the proceeds of the initial pubilc offer for purchasing plant and machinery and purchase railway rakes to set up own logistics infrastructure facilities and funding working capital requirements.
The company reported 110.4% spurt in net profit to Rs 66.56 crore on 154.80% surge in net sales to Rs 418.57 crore in the year ended March 2008 over the year ended March 2007.
Market ends with minor losses after strong intra-day rebound
Buying support in banking pivotals helped the market stage a sharp recovery from lower level in the last one hour of the trading session. Buying was also witnessed in PSU and oil & gas shares. Metal shares were the biggest losers in today’s trade. Resurgere Mines & Minerals settled at a 94.20% premium over the initial public offer (IPO) price.
The BSE 30-share Sensex lost 66.02 points or 0.45% to 14,498.51. The index opened with a downward gap of 151.54 point on weak global cues. Selling activity intensified by afternoon, dragging the index lower by 283.43 point at the day’s low of 14,281.10. However, strong buying support in banking and other index pivotals towards the latter part of the trading session helped the Sensex pare early losses. The barometer index was down 17.12 points at the day's high of 14,547.41 struck at the fag end of the trading session.
The S&P CNX Nifty was down 11.35 points or 0.26% to 4348.65. It came off session's low of 4281.35. Nifty September 2008 futures were at 4361, at a premium of 12.35 points as compared to spot closing.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 1 September 2008, sold shares worth a net Rs 241.85 crore. Domestic funds bought shares worth a net Rs 82.62 crore.
The small-cap and and mid-cap indices on BSE both ended flat for the day.
The market breadth, which was weak for a better part of the session, turned positive at the fag end of the session. On BSE, 1329 shares advanced against 1255 that declined. 96 stocks were unchanged.
BSE clocked a turnover of Rs 3403 crore as against Rs 5,430.84 crore on Friday, 29 August 2008. NSE's futures & options (F&O) segment turnover was Rs 37,943.16 crore, lower than Rs 43,170.27 crore on Friday, 29 August 2008.
The BSE Sensex is down 5788.48 points or 28.53% in the calendar year 2008 so far from its close of 20,286.99 on 31 December 2007. It is 6708.26 points or 31.63% away from its all-time high of 21,206.77 struck on 10 January 2008.
Top Sensex gainers were, ITC (up 1.62% at Rs 191.65), Bharat Heavy Electricals (up 0.90% at Rs 1721.90), Satyam Computer (up 0.88% at Rs 423.40), ONGC (up 0.64% at Rs 1029.80), and ACC (up 0.45% at Rs 564.20).
Major Sensex losers were, Ranbaxy Laboratories (down 3.61% at Rs 499.80), Tata Steel (down 2.67% at Rs 584.30), Bharti Airtel (down 2.50% at Rs 816.25), and Reliance Communication (down 1.71% at Rs 388.95).
India’s largest passenger car maker by sales Maruti Suzuki India declined 2.56% to Rs 633.75 after the company posted 9.2% fall in sales to 59,908 units in August 2008 over August 2007. The stock had risen 3.83% in two trading sessions to Rs 650.40 on 29 August 2008 from Rs 626.40 on 27 August 2008. The stock had hit a low of Rs 618.35 earlier.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 0.18% to Rs 2140.55. The stock moved in the range of Rs 2165 to Rs 2106. The company has abandoned a plan to transfer an 80% stake in a deepwater block to its subsidiaries as it has raised the money it needs for the block, the company said in a statement today, 1 September 2008.
RIL, which owns 90% in the gas-rich D-6 block in the Krishna Godavari basin off India's east coast, said last week it had sent a proposal for the transfer of the stake to four fully-owned subsidiaries and was awaiting government approval.
India's second largest software exporter by sales Infosys Technnologies was down 1.44% to Rs 1723.30.
Banking shares recovered sharply. The BSE Bankex outperformed the Sensex, rising 0.17% to 7,021.35. The index came off from a low of 6,823.41. India’s second largest private sector bank in terms of net profit HDFC Bank rose 1.48% at Rs 1296.10. It came off from the day’s low of Rs 1245.60. India's largest commercial lender State Bank of India rose 0.88% at Rs 1416. It came of from the day’s low of Rs 1360. India’s largest private sector bank by market capitalisation ICICI Bank fell 1.03% at Rs 664.55. It had touched a low of Rs 649.90 earlier.
PSU stocks gained. Syndicate Bank (up 5.73% at Rs 62.75), BEML (up 5.45% at Rs 772.45), Rural Electrification Corporation (up 4.65% at Rs 91.10), and Canara Bank (up 2.48% at Rs 220.85), flared up. The BSE PSU index outperformed the Sensex, rising 0.31% at 6,768.18.
Oil & gas stocks were mixed. Private sector oil & gas stocks rose. However, state-run oil firms were trading lower. Essar Oil (up 3.80% at Rs 217.35), and Reliance Petroleum (up 0.86% at Rs 158.40), rose.
Among the state-run oil firms, Indian Oil Corporation (down 1.17% at Rs 396.75) and BPCL (down 0.64% at Rs 301.40), dropped. The BSE Oil & Gas index outperformed the Sensex, rising 0.30% at 9,688.58.
Metal stocks tumbled. National Aluminium Company (down 2.41% at Rs 378.35), Sesa Goa (down 2.05% at Rs 155), JSW Steel (down 1.64% at Rs 751.75), and Steel Authority of India (down 1.44% at Rs 153.80), declined. The BSE MEtal index underperformed the Sensex, falling 1.08% at 12,214.11.
India's third biggest motorcycle maker by sales TVS Motors rose 1.53% at Rs 33.15 after the company said its two-wheeler sales rose 11% to 114,321 units in August 2008 over August 2007.
Construction firm Gammon Infrastructure Projects rose 3.21% to Rs 98 after the company said it has won rights to build a 261 megawatt hydrapower plant in Himachal Pradesh, at a cost of Rs 1510 crore.
State-run miner NMDC gained 2.80% to Rs 311.55 after the company said it plans to set up an integrated steel plant at Nagarnar in Chhattisgarh.
Engineering firm Shriram EPC rose 2.74% to Rs 256.85 after the company said it has acquired 55% stake in Chennai based Blackstone Group Technologies for an undisclosed sum.
Iron ore miner Resurgere Mines & Minerals settled at Rs 524.35 on BSE, a 94.20% premium over initial public offer price of Rs 270. The stock debuted at Rs 272.05 on BSE, a marginal premium of 0.75% over its issue price of Rs 270. The stock hit a high and low of Rs 562.80 and Rs 272.05.
Debutant Resurgere Mines and Minerals clocked the highest turnover of Rs 1436.18 crore on BSE. Reliance Capital (Rs 214.31 crore), Reliance Industries (Rs 173.43 crore), Nu Tek India (Rs 132.70 crore), and ICICI Bank (Rs 115.57 crore), were the other turnover toppers on BSE in that order.
Debutant Resurgere Mines and Minerals registered the highest volume of 3.31 crore shares on BSE. Reliance Natural Resources (1.18 crore shares), Nu Tek India (65.56 lakh shares), Chambal Fertilizers & Chemicals (53.22 lakh shares), Noida Toll Bridge (44.57 lakh shares), were the other volume toppers on BSE in that order.
European market were trading lower. Key benchmark indices in UK, France and Germany were down 0.51% to 0.89%. Asian stocks dropped today, 1 September 2008, amid concerns about the impact of weaker global demand on the region's economies. Key benchmark indices in Hong Kong, Japan, South Koera, Singapore, Taiwan and China were down by between 0.95% to 4.06%
US stocks tumbled on Friday, 29 August 2008, led lower by tech shares after computer maker Dell warned that companies worldwide are cutting back on technology spending. The Dow Jones industrial average lost 171.47 points, or 1.46%, at 11,543.71. The Standard & Poor's 500 Index was down 17.93 points, or 1.38%, at 1,282.75. The Nasdaq Composite Index shed 44.12 points, or 1.83%, at 2,367.52.
Economic data added to the market's jitters ahead of the long Labor Day weekend. US market remains closed on Monday, 1 September 2008, for Labor Day holiday.
Weak global indices may weigh
Market is likely to open with a negative gap following the weak international markets. Also intra-day volatility remains the major concern. Among the local indices the Nifty has a support at 4330 and it may rise to 4400, while the Sensex has a support at 14400 and has a resistance at 14700.
US indices declined sharply on Friday with the Dow Jones slipped almost 172 at 11544, the Nasdaq lost 44 points to close at 2368.
Most of the Indian ADRs trading on the US bourses closed in the green. Rediff led the pack with gains of over 4.95% followed by Satyam, VSNL and Dr Reddy both of which gained above 1-2%. Tata Motors, ICICI Bank, and Patni Computer gained marginally. However, Infosys, Wipro, HDFC Bank and MTNL eased marginally.
Crude oil prices in the US markets moved down marginally, with the Nymex light crude oil for October delivery moving down by 13 cents to close at $115.46 a barrel. In the Commodity segment, the Comex gold for December series lost $2.20 cents to settle at $835.00 a troy ounce.
Market may slip on weak global cues
The market may edge lower on weak cues from global equities. US stocks tumbled on Friday, 29 August 2008, led lower by tech shares after computer maker Dell warned that companies worldwide are cutting back on technology spending. The Dow Jones industrial average lost 171.47 points, or 1.46%, at 11,543.71. The Standard & Poor's 500 Index was down 17.93 points, or 1.38%, at 1,282.75. The Nasdaq Composite Index shed 44.12 points, or 1.83%, at 2,367.52.
Economic data added to the market's jitters ahead of the long Labor Day weekend. US market remains closed on Monday, 1 September 2008, for Labor Day holiday.
The Indian stock market surged on Friday, 29 August 2008, as data showing a slower-than-expected GDP growth in Q1 June 2008 and softening of inflation raised hopes for a pause in monetary tightening by the central bank. The BSE Sensex jumped 516.19 points.
India's gross domestic product (GDP) grew 7.9% in the June 2008 quarter from a year earlier, easing from the previous quarter's 8.8% rise as industrial activity slowed due to monetary tightening. The GDP growth in the first quarter of the current fiscal year was lower than market expectations of a rise of a little above 8%
According to a recent report by Goldman Sachs, the outcome of the southwest monsoon is key as 60% of India’s labour force is engaged in the agricultural sector and it has big knock-on effect on industry and services. The monsoon rains between 1 June 2008 to 24 August 2008 were near normal at 1% below the long-term average.
Annual wholesale price inflation rose 12.40% in 12 months to 16 August 2008, below the previous week's 12.63% but remained stuck at 13-year highs, data released by the government after trading hours on Thursday, 28 August 2008 showed. No conclusion can be drawn from one week's inflation number, Finance Minister P Chidambaram said. Inflation has nearly tripled from 4.39% a year ago and now is riding around the highest levels since the current inflation series began being compiled 13 years ago. It remains far above central bank’s target of 7%
Reserve Bank of India (RBI) after trading hours on Friday, 29 August 2008, said the inflation rates have hardened beyond tolerable levels and the monetary policy will continue to address aggregate demand pressures, which appear to be strongly in evidence. The central bank also said it had to ensure that the effectiveness of monetary policy was not diluted by fiscal expansion.
There were several risks to growth prospects of the economy in the short term, stemming from both global and local factors, the central bank said in its review of the year ended 30 June, 2008.
Concerns about populist measures by the government and their adverse impact on fiscal deficit will continue to haunt the bourses in the coming months ahead of the parliamentary elections which must be held by May 2009. Recently, the government approved an average 21% pay rise for central government employees and military personnel, the first revision of government salary scales in 12 years.
Meanwhile, equity mutual funds are sitting on large cash pile and deployment of cash by them may lend support to the stock market at declines. Equity funds are having 11% of assets in cash.
As per provisional data released by the stock exchanges, foreign funds on Friday, 29 August 2008, sold shares worth a net Rs 364.61 crore. Domestic funds bought shares worth a net Rs 281.07 crore.
Foreign institutional investors (FIIs) were net buyers of Rs 1,586 crore in the futures & options segment on Friday, 29 August 2008. According to the data released by the National Stock Exchange, FIIs were net buyers of index futures to the tune of Rs 1,015.19 crore and bought index options worth Rs 907.43 crore. They were net sellers of stock futures to the tune of Rs 447.61 crore and bought stock options worth Rs 110.53 crore.
In the next few days, the market will also closely watch developments on the Indo-US nuclear deal. A crucial two-day meeting of the Nuclear Suppliers Group (NSG) begins in Vienna on Thursday, 4 September 2008. India on Friday, 29 August 2008, made it clear that it will only accept a clean waiver without any conditions from the cartel that controls global export of nuclear fuel and know-how.
All 45 members of NSG must approve the nuclear accord, which the US Congress must also pass for the deal to come through. The last meeting of the NSG, held in Vienna on 20 August 2008-21 August 2008 ended on an inconclusive note with some countries in the NSG raising objections about some aspects of the India-US civil nuclear deal that they suspect can adversely affect global non-proliferation regime.
Aries Agro
We recommend a buy in Aries Agro from a short-term perspective. It is clearly evident from the charts of Aries Agro that it has been on a medium-term uptrend from its 52-week low of Rs 84, recorded in early July. The stock has been forming higher peaks and higher troughs since then. In late July, the stock penetrated its intermediate-term down trendline which was in place since January high of Rs 264. On August 29, the stock Jumped up 8 per cent, accompanied with heavy vol ume taking support from its 50 day moving average. The stock is trading well above its 21- and 50-day moving averages.
The daily relative strength index (RSI) is on the brink of entering in to the bullish zone from the neutral region and weekly RSI is likely to enter into neutral region from the bearish zone. Daily moving average convergence and divergence (MACD) is featuring in the positive territory. The medium-term up trendline is intact. We are positive on the stock from a short-term perspective. We expect the stock to move up until it hits our price target of Rs 130 in the upcoming trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 112.
via BL
Pre Session Commentary - Sep 1 2008
The Indian Market is expected to have negative opening as US markets ended lower and Asian markets are trading down. On Friday, domestic market closed with handsome gains tracing positive cues from global markets along with drop in crude oil and eased inflation for the week ended 16th August 2008. India''s inflation falls to 12.40% during the week ended August 16 2008, as against 12.63% in the previous week. Market opened with gains tracking positive cues from global markets along with relieved inflation number. Further domestic market continued its northward journey despite slower Q1 GDP growth. India’s Q1 GDP growth slows to 7.9% from 8.8% of previous quarter. Finally, market rallied sharply during final trade to end with heavy gains. NSE Nifty ended above 4,300 mark and BSE Sensex crossed 14,500 level. From the sectoral front, all indices closed in green and among that Bank stocks outperformed as closed with increase of more than 6%. Along with this Metal, Capital Goods, Oil & Gas, Reality and Consumer Durable stocks were in limelight as witnessed most of the buying from these baskets. The BSE Sensex closed higher by 516.19 points at 14,564.53 and NSE Nifty ended up by 146 points at 4,360. The BSE Mid Caps and Small Caps ended with gains of 133.44 points and 109.34 points at 5,742.29 and 6,891.64. We expect that market gave up its Friday''s gains during the trading session.
India’s Q1 GDP growth slows to 7.9% from 8.8% of previous quarter as industrial activity slowed due to monetary tightening.
On Friday, the US market was closed lower as consumer spending slumped and Dell missed earnings estimate. There were weak reports on personal income. Rise in the price of oil also added to the sell off. Retail gasoline prices rose for the first time in 1.5 months. Oil prices jumped 2.7% during the session, but retreated to finish virtually unchanged near $115.65 per barrel. U.S. markets will be closed on Monday for Labor Day.
The Dow Jones Industrial Average (DJIA) closed lower by 171.63 points to close at 11,543.55 along with the NASDAQ index ended down by 44.12 points to close at 2,364.52 and the S&P 500 (SPX) lost 17.85 points to close at 1,282.83.
Indian ADRs ended mixed. In technology sector, Satyam ended higher by (2.58%) followed by Patni Computers surged by (0.09%), while Infosys dropped by (0.29%) and Wipro by (0.09%). In banking sector ICICI Bank gained (0.71%) while HDFC Bank lost (0.39%). In telecommunication sector, Tata Communication ended up by (1.69%) while MTNL dropped by (0.21%). However, Sterlite industries remained unchanged.
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 364.27 points at 20,897.62 along with Taiwan Weighted trading down by 199.40 points at 6,846.71, Japan’s Nikkei dropped by 176.00 points at 12,896.87 and Singapore''s Straits Times lost 33.34 points at 2,706.61.
The FIIs on Friday stood as net buyer in equity and in debt. The gross equity purchased was Rs3,403.30 Crore and the gross debt purchased was Rs246.00 Crore while the gross equity sold stood at Rs3,259.50 Crore and gross debt sold stood at Rs98.50 Crore. Therefore, the net investment of equity reported was Rs143.80 Crore and net debt was Rs147.50 Crore.
The partially convertible rupee ended at 43.93/94 per dollar, 0.35% weaker than Thursday’s close of 43.78/79. It had hit a 17 month low of 44.26 earlier in the week.
Today, Nifty has support at 4,238 and resistance at 4,418 and BSE Sensex has support at 14,157 and resistance at 14,801.
Morning Call - Sep 1 2008
Market Grape Wine :
In House:
Nifty at a support 4320 and 4290 with resistance at 4400 and 4450 levels.
Cash: Buy SBIN above 1365 target 1430 with S/L 1335.
Cash: BHEL above 1670 target 1725 with S/L 1640.
Future: Sell RIL below 2153 target 2080 with S/L 2185.
Future: Sell RCOM below 398 targets 380 with S/L 405.
Out House:
Markets at a support of 14352 & 14234 and resistance at 14543 & 14686 levels .
Buy : Infy at dips
Buy : LNT
Buy : Coreproject
Buy : Titan
Buy : ONGC at dips
Buy : NTPC
Buy : EssarOil
Buy : SBIN
Buy : Tisco & sail at dips
Dark Horse : TorrentPharma , PunjLLoyd , RIL , Core , Bhel , Infy , & NTPC
Trading Calls - Sep 1 2008
Nifty (4360) Sup 4305 Res 4405
Buy Jindal Saw (581)
SL 575 Target 597, 600
Buy Punj Lloyd (301)
SL 296 Target 311, 313
Buy Bank India (267)
SL 262 Target 277, 279
Sell HPCL (201)
SL 206 Target 190, 188
Sell Grasim (1937)
SL 1955 Target 1910, 1900
Global cues to pinch
Nothing is as simple as we hope it will be.
Looks like we are in for another volatile week, which is going to be a shorter one, as the markets will be shut on Wednesday on account of Ganesh Chaturthi. The bulls will be hoping that the elephant-headed lord will bring luck to them, having been battered for most of the year so far. Technical and derivative indicators seem to be much more positive than those for the cash segment, which is constantly being bogged down by local and global issues. The market will be under pressure at the start of trading today following the sharp fall in US shares on Friday and weak beginning across Asian markets. With nearly no local triggers to bank on this week (barring the second NSG meet on Thursday) the market's direction will hinge on global factors. Taking a medium to long-term call is fraught with risks given the high level of uncertainty over local as well as global factors. Instead, one should focus on daily or weekly outlook and trade accordingly.
Major events to keep a eye on this week will be the legal tussle between the Ambani brothers. There are reports that the two siblings may settle their long-standing dispute over gas supply out of the court. This is still very much in the realm of speculation, and there is as yet no official confirmation of the same from either of the Ambani camps. Another big-ticket development will be the impending pullout of the Tatas, unless of course Mamata Banerjee decides to relent. Tata Motors will also decide on the terms of the now curtailed rights issue on September 2.
A waiver from NSG for India (perhaps with some riders) may temporarily boost sentiment, particularly the companies that stand to gain from the Indo-US deal. The immediate concern is the potential threat to the US oil and refining facilities in the Gulf of Mexico from Hurricane Gustav. Crude oil will continue to have a bearing on movements across global equity markets.
It's tough to say whether inflation and interest rates have peaked out, and how deep is the slowdown in economic growth. One can say the same for the health of the US and other major global economies, as also for the financial turmoil currently underway. Liquidity is very low and FIIs still appear to be negative on India. As a result, the market will remain volatile amid lack of a clear trend. One should adopt a wait and watch strategy, as global and local fundamentals are still fragile.
Airlines will be in focus as public sector oil companies have slashed the ATF prices by 16%. Reports suggest that none of the airlines are ready to cut air fares as they are still suffering badly. Auto and cement companies will hog the limelight as they release their monthly sales figures. Auto sales are expected to be under pressure. Resurgere Mines & Minerals will make its debut today. Its IPO was subscribed just 1.2 times. The issue price is Rs 270 per share.
FIIs were net sellers of Rs3.65bn (provisional) in the cash segment on Friday. Local institutions were net buyers of Rs2.8bn. In the F&O segment, the foreign funds were net buyers of Rs15.85bn. On Thursday, the foreign funds were net buyers of Rs1.4bn in the cash segment.
Asian stocks fell the most in almost two weeks, led by automakers and technology companies, on renewed concern that faltering US economic growth will hurt demand for the region's exports.
The MSCI Asia Pacific Index slipped 1.2% to 123.85 at 10:07 a.m. in Tokyo, poised for its largest drop since Aug. 19. All 10 industry groups retreated, with a measure including automakers posting the largest drop.
Japan's Nikkei 225 Stock Average fell 1.3% to 12,909.97. Stock indexes also declined elsewhere in Asia and Australia. Malaysia and Vietnam are closed today for holidays.
US stocks tumbled on Friday in the wake of PC major Dell's disappointing earnings, a big drop in personal income and weakness in consumer spending. Anxiety over the impact of hurricane Gustav on oil prices also unnerved investors ahead of the extended weekend.
After three straight sessions of gains, the Dow Jones Industrial Average dived 171.22 points, or 1.5%, to end at 11,543.96. The S&P 500 index slid 17.84 points, or 1.4%, to close at 1,282.84. The Nasdaq Composite Index plunged 44.12 points, or 1.8%, to 2,367.52.
All of the Dow's 30 components closed in the red. Technology paced the declines among the 10 industry groups in the S&P 500 index, down 1.9%.
Market breadth was negative while trading volume was light with many market participants leaving for home early ahead of the three-day holiday weekend. All US financial markets will be closed on Monday for a Labor Day holiday.
Trading volume had set new lows for the year for five straight days before yesterday.
The Dow was down 0.7% on the week but managed a modest monthly gain of 1.5%. The S&P fell 0.7% on the week but gained 1.2% in August. The technology-laden Nasdaq dropped 2% in the week but was up 1.8% for the month.
August is only the third up month for the S&P 500 since October of last year, when it hit an all-time high of 1565.15.
Bond insurer MBIA was the biggest S&P 500 gainer in the month, rising nearly 173%, while Fannie Mae and Freddie Mac were the two biggest losers, falling 40.5% and 45% respectively.
AMD was the second biggest gainer, rising 49%, while a slew of retailers were in the top 20, bouncing back thanks in part to the impact of government stimulus package. JC Penney, Limited Brands, Dillard's and the Gap all gained 20% in August.
Friday brought encouraging readings on the economy, including a spike in a key regional manufacturing index, the Chicago PMI, and improvement in the University of Michigan's consumer sentiment index for August.
But these reports were overshadowed by the other downbeat data.
Personal income plunged in July as the impact of the USUS$90bn economic stimulus plan tapered off. The drop was the biggest monthly decline in nearly three years. But personal spending rose in line with expectations, due to higher prices.
Shares of Dell tumbled 13.8% after the PC maker reported a 17% drop in profit as margins were hurt by efforts to build out its consumer products and overseas markets. The company said that continued conservatism from some US customers is spreading to western Europe and some Asian countries.
Microsoft Corp. said that it was going to acquire Web-based survey company Greenfield Online for US$486mn in cash, or US$17.50 a share. That tops a previous bid by buyout firm Quadrangle of US$15.50 a share.
Potential threat to oil production facilities in the Gulf of Mexico from Tropical Storm Gustav cast its shadow over Wall Street. Gustav is expected to make landfall in the Gulf of Mexico on Tuesday. Oil facilities in the gulf are responsible for about 25% of US oil production.
US oil for October delivery hit US$118.76 per barrel on the New York Mercantile Exchange, before retreating to close at US$115.49, a decline of 10 cents. Prices have been rising of late after tumbling more than 20% off record highs of over US$147 a barrel hit in mid-July.
Retail gas prices rose overnight for the first time in more than a month, according to a survey of gas station credit-card activity. Gas prices are down nearly 11% from all-time highs hit in mid-July, but remain 33% above last summer's levels.
In the bond market, Treasury prices fell, raising the yield on the benchmark 10-year note to 3.82% from 3.78% late on Thursday. The dollar rose versus the euro and fell against the yen. COMEX gold for November delivery fell US$2 to settle at US$833.20 an ounce.
European shares ended Friday, the week and the month with gains. The Dow Jones Stoxx 600 index climbed 0.3% to 288.18. The pan-European stock-market index logged a weekly gain of about 1.5%. The Stoxx 600 closed out a low-volume August with a rise of just over 3%. UK's FTSE 100 traded 0.6% higher at 5,636.60 and Germany's DAX 30 rose slightly to 6,422.30. A 7% rally in shares of retail major Carrefour sent the French CAC-40 up 0.5% at 4,482.60.
In the emerging markets, Brazil's Bovespa was up 1.2% at 55,680 while Mexico's IPC index gave back 0.6% to 26,290. The RTS index in Russia dropped 0.5% to 1646 and the ISE National-30 index in Turkey was down 0.9% to 49,256Market may continue momentum
Indian market ended with healthy gains as bulls put on a stellar show on Friday. A surprising decline in inflation figures, inline GDP numbers and firm global cues lifted the sentiments on Dalal Street. All round buying was witnessed in scrip’s across the sectors which saw the benchmark BSE Sensex and the NSE Nifty index to close above the 14,500 and 4,350 mark respectively.
All the BSE Sectoral indices ended in the green, the BSE Bankex index (up 6.2%), BSE Realty index (up 4.7%) and BSE Metal index (up 3.5%) were among the top gainers. Even the Mid-Cap and the Small-Cap indexes attracted buying, the BSE Mid-Cap index rose 2.4% and the Small-Cap index gained 1.5%.
Shares of Ispat Industries surged by over 4.5% to Rs25 after reports stated that the company is planning to invest Rs32bn for setting up a coke plant, pellet plant and power plant at the company’s Dolvi complex. The scrip touched an intra-day high of Rs25.2 and a low of Rs24.2 and recorded volumes of over 75,00,000 shares on NSE.
Shares of BHEL rallied by over 5% to Rs1702 after the company announced that it won an Rs11.55 order from GVK Power & Infrastructure Ltd. Two coal-based units each generating 270 megawatts of electricity will be supplied to GVK's Goindwal Sahib Power
Project in Punjab, announced the company. The scrip touched an intra-day high of Rs1721 and a low of Rs1652 and recorded volumes of over 3,00,000 shares on NSE.
Shares of Gammon Infrastructure gained 1.1% to Rs94 after the company announced that it secured letter of allotment for a Project worth Rs8bn for designing, constructing, financing, operating and maintaining on BOT basis a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh. The scrip touched an intra-day high of Rs110 and a low of Rs92 and recorded volumes of over 1,00,000 shares on NSE.
MRF advanced by 1.8% to Rs3575. According to reports, the company is awaiting the approval of the Ministry of Defense, expects Government to provide financial assistance. The scrip touched an intra-day high of Rs3575 and a low of Rs3493 and recorded volumes of over 2,000 shares on NSE.
Shares of Reliance Capital surged by over 3% to Rs2136 after the company announced that it launched operations in the UK and Ireland to tap the Indians living in Europe, stated reports. The scrip touched an intra-day high of Rs2143 and a low of Rs2075 and recorded volumes of over 7,00,000 shares on NSE.
Shares of Bharti Airtel gained by over 4% to Rs837 after reports stated that the company plans to roll-out IPTV and DTH service simultaneously before this year end. The scrip touched an intra-day high of Rs843 and a low of Rs806 and recorded volumes of over 10,00,000 shares on NSE.
Union finance ministry advises GAIL and NTPC to infuse additional equity of Rs4.8bn each in the Dabhol power project.(FE)
ONGC may rope in Rosneft Oil Company of Russia as its local partner in Imperial Energy in case of a successful acquisition.(BL)
BSNL announces it would launch 3G services across the country by the end of this year.(DNA)
ONGC may acquire five onshore blocks spread over 16,500 sq.km in West Bengal.(BS)
Shyam Telecom is the first of the new telecom players to get pan-India spectrum for launching mobile services.(ET)
Gammon Infrastructure receives a Rs8bn bridge construction project from Andhra Pradesh government.(BL)
Ispat Industries has floated a company to start iron ore mining in Brazil.(ET)
Reliance Industries to start production at KG Basin in a few months. (BS)
Dishman Pharma to invest Rs5bn in the next two years on developing two SEZs.(BL)
SAIL may go in for ECBs to fund equipment imports for its ongoing expansion plans.(BS)
Alok Industries in talks with PE firms to raise Rs3bn for a 25% stake in its real estate development project in Mumbai.(Mint)
Reliance Industries scraps its plans to transfer 80% stake in D-6 block in KG Basin gas field, to its subsidiaries.(ET)
Idea Cellular has earmarked Rs8bn from its IPO proceeds for acquisitions and expansions.(BS)
NMDC plans to invest Rs230bn in next six years on various projects including setting up a greenfield steel plant.(BL)
Reliance Industries receives an US$400mn loan guarantee approved by the EXIM Bank of the US.(TOI)
UTI Mutual Fund plans to rope in strategic investors without diluting the majority stake of promoters; IPO likely to be delayed.(Mint)
Tata Motors to decide price for its proposed Rs42bn rights issue on September 2.(TOI)
Gammon India plans to consolidate all its real estate projects under Gammon Realty, which it plans to list on bourses.(Mint)
Dr Reddy’s facing significant pressure on its business in Germany as regulations and growing competition drive down prices.(DNA)
Ranbaxy Laboratories loses a patent case against Pfizer in Denmark which involves selling of Lipitor.(BS)
BHEL receives an Rs11bn contract from GVK Power for setting up 2x270MW electricity generating units.(ET)
Heavy Engineering Corporation and BHEL to sign a MoU for a proposed joint venture.(FE)
West Bengal government grants SEZ status to JSW Bengal Steel promoted by the Sajjan Jindal group.(FE)
Steel pipe maker PSL set to diversify in to SEZ development.(BL)
Larsen & Toubro will raise US$400mn from overseas market to fund its new business.(BS)
ONGC firms up plan for North Tapti offshore field.(BL)
DoT to sign an agreement with BSNL for providing village telephones to the newly identified 50,000 villages in census 2001.(ET)
Tata Steel is looking at acquiring iron ore deposits in Laos.(BS)
Satyam Computers pursuing four acquisition opportunities; all deals in the US$50mn plus range.(BL)
Government asks Bharti group to seek FIPB approval for its upcoming DTH services.(FE)
Indian Oil Corp and Oil India combine on the look out for partners to participate in the next bidding round for oil & gas exploratory assets in Australia.(BL)
Hindalco hires ten banks to arrange for an US$1bn loan to refinance its debt.(BS)
Shriram Properties proposes to float a separate division to develop malls. (ET)
ADAG subsidiary Global Wind Energy to manufacture wind farm equipment. (BS)
Reliance Retail plans 200 wholesale stores by March 2009.(Mint)
Deccan airlines to be renamed ‘Kingfisher Red’.(DNA)
Many foreign companies seek presence in Dishman Pharma group’s pharmaceutical and chemical SEZ.(BS)
Havells India plans to spend Rs500mn on R&D.(BL)
Government to set up new company to warehouse the shares of Larsen &Toubro and ITC. (ET)
Essar group on look out for iron ore, coal mines in India, abroad.(Mint)
FIPB clears Rs1bn FDI proposal of JP Morgan.(FE)
GAIL completes the pipeline to transport gas from KG Basin.(ET)
SBI to offer US$1bn to Tata Power to help it acquire Senoko Power, Singapore’s largest power utility.(ET)
Hyundai Motor India developing a model in the 800cc segment which would be rolled out in the next three to four years.(DNA)
Economy Front page
Union finance ministry advises GAIL and NTPC to infuse additional equity of Rs4.8bn each in the Dabhol power project.(FE)
ONGC may rope in Rosneft Oil Company of Russia as its local partner in Imperial Energy in case of a successful acquisition.(BL)
BSNL announces it would launch 3G services across the country by the end of this year.(DNA)
ONGC may acquire five onshore blocks spread over 16,500 sq.km in West Bengal.(BS)
Shyam Telecom is the first of the new telecom players to get pan-India spectrum for launching mobile services.(ET)
Gammon Infrastructure receives a Rs8bn bridge construction project from Andhra Pradesh government.(BL)
Ispat Industries has floated a company to start iron ore mining in Brazil.(ET)
Reliance Industries to start production at KG Basin in a few months. (BS)
Dishman Pharma to invest Rs5bn in the next two years on developing two SEZs.(BL)
SAIL may go in for ECBs to fund equipment imports for its ongoing expansion plans.(BS)
Alok Industries in talks with PE firms to raise Rs3bn for a 25% stake in its real estate development project in Mumbai.(Mint)
Reliance Industries scraps its plans to transfer 80% stake in D-6 block in KG Basin gas field, to its subsidiaries.(ET)
Idea Cellular has earmarked Rs8bn from its IPO proceeds for acquisitions and expansions.(BS)
NMDC plans to invest Rs230bn in next six years on various projects including setting up a greenfield steel plant.(BL)
Reliance Industries receives an US$400mn loan guarantee approved by the EXIM Bank of the US.(TOI)
UTI Mutual Fund plans to rope in strategic investors without diluting the majority stake of promoters; IPO likely to be delayed.(Mint)
Tata Motors to decide price for its proposed Rs42bn rights issue on September 2.(TOI)
Gammon India plans to consolidate all its real estate projects under Gammon Realty, which it plans to list on bourses.(Mint)
Dr Reddy’s facing significant pressure on its business in Germany as regulations and growing competition drive down prices.(DNA)
Ranbaxy Laboratories loses a patent case against Pfizer in Denmark which involves selling of Lipitor.(BS)
BHEL receives an Rs11bn contract from GVK Power for setting up 2x270MW electricity generating units.(ET)
Heavy Engineering Corporation and BHEL to sign a MoU for a proposed joint venture.(FE)
West Bengal government grants SEZ status to JSW Bengal Steel promoted by the Sajjan Jindal group.(FE)
Steel pipe maker PSL set to diversify in to SEZ development.(BL)
Larsen & Toubro will raise US$400mn from overseas market to fund its new business.(BS)
ONGC firms up plan for North Tapti offshore field.(BL)
DoT to sign an agreement with BSNL for providing village telephones to the newly identified 50,000 villages in census 2001.(ET)
Tata Steel is looking at acquiring iron ore deposits in Laos.(BS)
Satyam Computers pursuing four acquisition opportunities; all deals in the US$50mn plus range.(BL)
Government asks Bharti group to seek FIPB approval for its upcoming DTH services.(FE)
Indian Oil Corp and Oil India combine on the look out for partners to participate in the next bidding round for oil & gas exploratory assets in Australia.(BL)
Hindalco hires ten banks to arrange for an US$1bn loan to refinance its debt.(BS)
Shriram Properties proposes to float a separate division to develop malls. (ET)
ADAG subsidiary Global Wind Energy to manufacture wind farm equipment. (BS)
Reliance Retail plans 200 wholesale stores by March 2009.(Mint)
Deccan airlines to be renamed ‘Kingfisher Red’.(DNA)
Many foreign companies seek presence in Dishman Pharma group’s pharmaceutical and chemical SEZ.(BS)
Havells India plans to spend Rs500mn on R&D.(BL)
Government to set up new company to warehouse the shares of Larsen &Toubro and ITC. (ET)
Essar group on look out for iron ore, coal mines in India, abroad.(Mint)
FIPB clears Rs1bn FDI proposal of JP Morgan.(FE)
GAIL completes the pipeline to transport gas from KG Basin.(ET)
SBI to offer US$1bn to Tata Power to help it acquire Senoko Power, Singapore’s largest power utility.(ET)
Hyundai Motor India developing a model in the 800cc segment which would be rolled out in the next three to four years.(DNA)
Billionaire college dropouts!
There are many college and school dropouts who have amassed a huge amount wealth. But good education is never a waste of time, because there are millions of dropouts, but only a few of them go on to become billionaires.
The billionaire college dropouts list shows that a combination of qualities like vision, determination, hard work, business acumen, ability to spot an opportunity and turn it into a winning venture, leadership and motivational skills, etc is more important than a college degree.
Here are some college dropouts who went on to become billionaires. . .
Dhirubhai Ambani
Dhirajlal Hirachand Ambani (1932-2002) was born into a modest family of a schoolteacher. When he was 16, he dropped out of school and went to Aden to work as a gas-station attendant and then later as a clerk in an oil company.
He returned to India 10 years later and started a business with a meagre capital. By the time of his demise, his company -- Reliance Industries Ltd -- had grown into a mammoth business empire! He was one of India's greatest ever entrepreneurs.
Dhirubhai is credited with having single-handedly breathed life into the Indian stock markets and bringing in thousands of investors to the bourses. In the process he became one of the world's richest men.
His modern way of thinking brought into play his second achievement: the idea that Indian manufacturing could and should be world class.
His sons, Mukesh and Anil are among the top 10 richest persons in the world, each of them worth over $40 billion.
Gautam Adani
Gautam Adani (1962-) is chairman of the Adani Group, that is one of India's largest export and trading houses.
He is one of India's richest businessmen with an estimated personal net worth of $6.7 billion.
The Adani Group, despite a humble beginning in 1988, is one of the fastest growing enterprises in India. The flagship company, Adani Enterprises Ltd. (formerly known as Adani Exports Ltd.), was established by Gautam Adani in 1988 as a partnership firm with a seed capital of Rs 500,000.
Gautam Adani dropped out of college at the age of 18 and went on to work in Mumbai at a diamond store. He later set up his own diamond firm.
Born in a family of modest means in Ahmedabad, Gujarat, Gautam was one of the seven children of Shantilal and Shantaben Adani.
Later, along with his elder brother Mansukhbhai, he entered into import of raw materials used for manufacturing plastics. When import duties on the materials they imported were cut, following liberalisation, their profits multiplied.
Today, Gautam Adani owns two private jets.
Subhash Chandra
Subhash Chandra, founder of Zee TV and the Essel Group, dropped out of school when he was only 12.
He started his own vegetable oils and rice trading unit at 19 in Hissar, Haryana.
He launched Zee Telefilms in October 1992 as a content supplier for Zee TV -- India's first Hindi satellite channel.
He pioneered new businesses: amusement park (Esselworld), laminated tubes (Essel Tubes,) satellite television (Zee TV). He has also set up world class facilities that made quality products at competitive prices.
His personal wealth is estimated at $2.3 billion.
Bill Gates
For long the world's richest man, till he was upstaged by legendary investor Warren Buffett recently, Bill Gates wears many a hat: computer whiz kid, entrepreneur extraordinaire, compassionate capitalist, top management thinker. . .
Born on October 28, 1955, William H Gates III grew up in Seattle with his two sisters.
Their father, William H Gates II, is a Seattle attorney. Their late mother, Mary, was a schoolteacher, University of Washington regent, and chairwoman of United Way International.
Gates attended public elementary school and the private Lakeside School. There, he discovered his interest in software and began programming computers at age 13.
In 1973, Gates entered Harvard University as a freshman, where he lived down the hall from Steve Ballmer, now Microsoft's chief executive officer. While at Harvard, Gates developed a version of the programming language BASIC for the first microcomputer - the MITS Altair.
In his junior year, Gates left Harvard to devote his energies to Microsoft, a company he had begun in 1975 with his childhood friend Paul Allen.
Bill Gates stepped down as chief executive officer of Microsoft in January, 2000; remained as chairman and created the position of chief software architect. Gates's last full-time day at Microsoft was June 27, 2008. He remains at Microsoft as a part-time, non-executive chairman.
Gates married Melinda French from Dallas, Texas on January 1, 1994. They have three children: Jennifer Katharine Gates (1996), Rory John Gates (1999) and Phoebe Adele Gates (2002).
Li Ka-shing
Li Ka-Shing, whose net worth is estimated at $18.8 billion, is one of the richest men in Asia.
The chairman of Hutchison Whampoa and Cheung Kong Holdings was only 12-years-old when his family fled from China after the Japanese invaded the country.
They arrived in Hong Kong looking to make a life for themselves. However, when Li was only 15, his father passed away forcing him to drop out of school and support the family.
He started off working at his uncle's shop, selling watches. When he was 21, he established his own plastic manufacturing company that dealt in high-quality plastic flowers. He also ventured into real estate development, retail, ports, and power, electronics, and telecommunications.
Carl Icahn
Carl Icahn, a corporate raider and a private equity investor, was educated at Princeton University and New York University School of Medicine, but left prior to graduation.
Not becoming a doctor turned out for the good for Icahn, who is a billionaire financier with an estimated net worth of $14 billion.
Icahn calls himself an activist investor and is leading a shareholder revolt at Yahoo hoping that the Internet giant will sell out to Microsoft. He has launched a proxy fight to unseat Yahoo's board.
Roman Abramovich
Billionaire Russian businessman Roman Abramovich is best known for owning the United Kingdom's Chelsea Football Club.
He started his business in the late 1980s after the then Russian President Michael Gorbachev set in motion a few economic reforms.
Abramovich has invested around $500 million into Chelsea Football Club since buying it in 2003 and transformed the fortunes of the London team in just two years.
He also owns the private investment company Millhouse Capital, and with a net worth of $23.5 billion, is one of the richest persons alive.
He invested around $500 million since taking over the football club in 2003 and transformed the fortunes of the London team in just two years.
Ralph Lauren
Ralph Lauren was born in a Jewish family in the Bronx. He was so enamoured of fashion that even as a schoolboy he would work after school to make money to buy suits.
He went to the City College of New York to study business but soon dropped out. He joined the army for a while and then began to work for Brooks Brothers as a salesman.
He started a necktie business under the label 'Polo' in 1967, and then went on to build a global reputation for himself as a fashion designer and a formidable businessman.
His net worth is estimated to be around $3.8 billion.
David GeffenDavid Geffen is the founder of Geffen Records and Dreamworks SKG.
He was born in New York and studied at New Utrecht High School in Brooklyn before going to University of Texas in Austin. However, he soon dropped out.
He began his entertainment career in the mailroom working in a talent agency. In 1971, at the age of 28, which singed on noted artistes such as Bob Dylan, The Eagles, Linda Ronstadt and Jackson Browne. His company was acquired by Warner and merged with Elektra Records in 1972, but Geffen remained in-charge of the business till 1975. In 1975, he become the vice chairman of Warner Brothers.
In 1980, he set up Geffen Records. His net worth is estimated at $4.4 billion.
Steve Jobs
Steven Paul Jobs (1955-) and Apple Computer are names that have long gone together.
Born in the United States to an unknown Egyptian-Arab father, Jobs was adopted soon after birth. After graduating high school, he enrolled in Reed College, dropping out after one semester.
In 1976, 21-year-old Jobs and 26-year-old Steve Wozniak founded Apple Computer Co in the family garage. Jobs revolutionised the industry by popularising the concept of home computers.
By 1984, the Macintosh was introduced. He had an influential role in the building of the World Wide Web. He is also the former CEO of Pixar Animation Studios.
Today, with the iPod and the iPhone, Apple is bigger than ever. Incidentally, Jobs worked for several years at an annual salary of $1. It got him a listing in the Guinness Book as 'Lowest Paid CEO.' He was once gifted a $90 million jet by the company though. And his net worth? More than $5.4 billion.
Larry EllisonLawrence Joseph Ellison (1944-), co-founder and CEO of Oracle Corporation, founded his company in 1977 with a sum of $2,000.
Once a school dropout, he is now one of the richest people in America with a net worth of around $25 billion.
As a young man, Ellison worked for the Ampex Corporation, where one of his projects was a database for the CIA. He called it Oracle, a name he was to reuse years later for the company that made him famous.
Ellison is quite a colourful man, and has long dabbled in all kinds of things. Want to learn more? Try his biography, The Difference Between God and Larry Ellison
Andrew Carnegie
Industrialist and philanthropist, Andrew Carnegie (1835-1919) is better known, today, as the steel tycoon who started over 2,800 libraries. His rags-to-riches tale is also among the most famous in American history.
After moving to Pennsylvania from Scotland, at the age of 13 he worked as a bobbin boy in a textile mill. He invested his money wisely and, within a span of four decades, managed to gain control of a number of manufacturing plants that grew to become the Carnegie Steel Company.
He is equally -- if not more -- famous for his donations of over $350 million to further public education: an ironic gesture coming from a dropout.
The author Dale Carnegie was a distant relative, gaining fame for his 1937 bestseller, How to Win Friends and Influence People. And here's another titbit to chew on: During the American Civil War, Andrew Carnegie avoided the battlefield by paying a replacement the sum of $850.
Not Verified/Unknown Source
Subscribe to:
Posts (Atom)