Wednesday, April 22, 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/4/2009 532830 ASTRAL POLY IDFC MUTUAL FUND ACCOUNT IDFC SMALL AND MIDCAP EQUITY SMEFUND B 258189 51.92
22/4/2009 532960 IB SECURITIE KOTAK MAHINDRA UK LTD AC SANDSTONE CAPITAL INDIA MASTER FUND LTD B 5477573 27.00
22/4/2009 532960 IB SECURITIE ORIENT GLOBAL CINNAMON CAPITAL LIMITED S 6226000 27.06
22/4/2009 500106 IFCI LTD PRASHANT PATEL B 4431021 25.46
22/4/2009 500106 IFCI LTD PRASHANT PATEL S 4494061 25.32
22/4/2009 530019 JUBILANT ORG DEUTSCHE SECURITIES MAURITIUS LIMITED B 903582 120.00
22/4/2009 517334 MOTH SUMI SY SAMVARDHANA MOTHERSON FINANCE LTD B 9609909 81.47
22/4/2009 517334 MOTH SUMI SY MOTHERSON S 7000000 80.50
22/4/2009 532606 PAREKH ALUM AAP INVESTMENTS B 300000 56.14
22/4/2009 532606 PAREKH ALUM PIONEER NIRMAN INDIA PRIVATE L B 80220 56.67
22/4/2009 532606 PAREKH ALUM PIONEER NIRMAN INDIA PRIVATE L S 70220 55.64
22/4/2009 532606 PAREKH ALUM MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. S.V. S 347523 56.03
22/4/2009 523445 RELIANCE INDUSTRIAL INFRASTRUC CHANDARANA INTERMEDIARIES BROKERS P. LTD B 80884 664.47
22/4/2009 523445 RELIANCE INDUSTRIAL INFRASTRUC OPG SECURITIES P LTD B 199456 663.44
22/4/2009 523445 RELIANCE INDUSTRIAL INFRASTRUC CHANDARANA INTERMEDIARIES BROKERS P. LTD S 97807 670.38
22/4/2009 523445 RELIANCE INDUSTRIAL INFRASTRUC OPG SECURITIES P LTD S 199456 664.04
22/4/2009 531898 SANGUINE MD ANKURANILAGRAWAL S 75881 2.26
22/4/2009 512413 SPECTACLE HITESHBABUBHAIDOBARIYA B 489577 56.79
22/4/2009 512413 SPECTACLE HITESHBABUBHAIDOBARIYA S 467857 56.77
22/4/2009 512048 SPLASH MEDIA KIRIT V DAVE S 10867 74.30
22/4/2009 526133 SUPERTEX IND KUMKUM STOCK BROKER PVT LTD B 84008 24.89
22/4/2009 526133 SUPERTEX IND KUMKUM STOCK BROKER PVT LTD S 81202 24.82
22/4/2009 532648 YES BANK ABHI AMBI FINANCIAL SERVICES LTD B 1639934 84.62
22/4/2009 531364 ZENU INFOTEC JYOTI DEEPAK JAIN S 40000 6.30
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-APR-2009,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2025021,133.53,-
22-APR-2009,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD.,BUY,4241166,25.40,-
22-APR-2009,IFCI,IFCI Ltd.,PRASHANT JAYANTILAL PATEL,BUY,4814275,25.28,-
22-APR-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,6217592,13.93,-
22-APR-2009,JUBILANT,Jubilant Organsosys Limit,DEUTSCHE SECURITIES MAURITIUS LIMITED,BUY,1013447,120.00,-
22-APR-2009,KSERAPRO,K Sera Sera Productions L,BASMATI SECURITIES PVT LTD,BUY,453082,10.35,-
22-APR-2009,MANALU,Man Aluminium Limited,SIDDHARTHA HOLDINGS,BUY,22632,33.60,-
22-APR-2009,NAGARFERT,Nagarjuna Fert & Chem,JAYPEE CAPITAL SERVICES LTD.,BUY,3113133,23.43,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,C D INTEGRATED SERVICES LTD.,BUY,246416,663.89,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,81433,669.82,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,153539,667.71,-
22-APR-2009,ROLTA,Rolta India Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,830124,90.97,-
22-APR-2009,TATAELXSI,Tata Elxsi (India) Ltd,MANISH VRAJLAL SARVAIYA,BUY,169202,102.54,-
22-APR-2009,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1099087,14.80,-
22-APR-2009,YESBANK,Yes Bank Limited,ABHI AMBI FINANCIAL SERVICES LTD,BUY,2453066,82.52,-
22-APR-2009,GLORY,Glory Polyfilms Limited,SHILPIAMRITLALKHIMANI,SELL,94159,27.75,-
22-APR-2009,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,SELL,2025021,133.55,-
22-APR-2009,IFCI,IFCI Ltd.,CLEAN FINANCE & INVESTMENT LTD.,SELL,4241166,25.40,-
22-APR-2009,IFCI,IFCI Ltd.,PRASHANT JAYANTILAL PATEL,SELL,4766995,25.32,-
22-APR-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,5808892,13.90,-
22-APR-2009,KSERAPRO,K Sera Sera Productions L,BASMATI SECURITIES PVT LTD,SELL,231649,10.55,-
22-APR-2009,NAGARFERT,Nagarjuna Fert & Chem,JAYPEE CAPITAL SERVICES LTD.,SELL,3092133,23.55,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,C D INTEGRATED SERVICES LTD.,SELL,246416,664.25,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,85310,674.09,-
22-APR-2009,RIIL,Reliance Indl Infra Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,153539,667.33,-
22-APR-2009,ROLTA,Rolta India Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,830124,91.04,-
22-APR-2009,ROLTA,Rolta India Ltd.,WARD FERRY MNGT LTD A/C WF ASIAN SMALLER COMPANIES FUND LTD,SELL,1428825,89.92,-
22-APR-2009,TATAELXSI,Tata Elxsi (India) Ltd,MANISH VRAJLAL SARVAIYA,SELL,169202,102.13,-
22-APR-2009,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1094888,14.84,-
Key benchmark indices fell for the third straight day led by fall in realty, capital goods and auto stocks. Volatility in banking stocks and index heavyweight Reliance Industries caused volatility in the key benchmark indices. The BSE 30-share Sensex was down 80.57 points or 0.74% off close to 220 points from the day's high and up close to 100 points from the day's low.
Political uncertainty weighed on the market with polling for India's 15th Lok Sabha underway. The month-long parliamentary elections that began on 16 April 2009 will conclude on 13 May 2009 with results due on 16 May 2009. Poll estimates point to a fractured mandate.
The Sensex fell below psychological 11,000 mark. It had moved past the 11,000 level earlier in the day today, 22 April 2009.
Stocks were volatile. The market surged in early trade as a rate cut by the central bank to boost domestic demand announced during trading hours yesterday, 21 April 2009, bolstered sentiment. The market weakened in mid-morning trade. It extended losses later as US index futures dropped. Volatility ruled the roost in mid-afternoon trade.
European shares ticked higher on Wednesday as banks gained ground, offsetting the impact of Roche which tumbled after a cancer drug setback while company results sent mixed signals. Key benchmark indices in France, Germany and UK were up by between 0.09% to 0.4%.
Britain's unemployment rate in the three months ending in February 2009 rose to 6.7%, up from 6.1% in the previous quarter, the Office for National Statistics reported Wednesday. The unemployment level rose to 177,000 in the same period to 2.1 million. The number of persons claiming jobless benefits in March 2009 rose a smaller-than-expected 73,700 to 1.46 million. Economists had forecast a rise of 1,20,000.
British Chancellor of the Exchequer Alistair Darling is expected to announce a modest package of breaks and incentives designed to boost the nation's flagging housing sector when he releases the government's annual budget on Wednesday, according to reports.
The Bank of England's Monetary Policy Committee voted unanimously to maintain interest rates at 0.5% and continue with the central bank's 75 billion pound ($110 billion) asset repurchase program at its meeting earlier this month, according to the minutes released on Wednesday.
Some Asian stocks rose after US Treasury Secretary Geithner on Tuesday, 21 April 2009, said the vast majority of US banks have more capital than they need to be considered well capitalized. Key benchmark indices in Japan, South Korea and Taiwan rose by between 0.08% and 1.44%. However, indices in Hong Kong, China and Singapore were down by between 2.32% and 2.94%.
China's urban unemployment rate rose to 4.3% at the end of March 2009, up from 4.2% at the end of December 2008, according to a report. The urban jobless rate stood at 4% at the end of September 2008. The urban figure excludes migrant workers, among others, and understates the nationwide unemployment rates.
Trading in US index futures indicated the Dow could fall 33 points at the opening bell today, 21 April 2009. US banking giant Morgan Stanley reports earnings today.
Some reassurances on the capitalization of large US banks sent Wall Street surging on Tuesday, 21 April 2009. The Dow Jones industrial average gained 127.83 points, or 1.6%, to 7,969.56. The S&P 500 index rose 17.69 points, or 2.1%, to 850.08, and the Nasdaq Composite index rose 35.64 points, or 2.2%, to 1,643.85.
The Federal Reserve is overseeing assessments of the health of the 19 biggest US banks, with results to be released on 4 May 2009.
Closer home, the Reserve Bank of India (RBI) on Tuesday, 21 April 2009 cut its key short-term rates by 25 basis points each to shore up faltering growth in the face of the global economic slowdown. The Reserve Bank also repeated a call for banks to pass on its rate cuts to customers and said deposit rates should also fall. "There is scope for the overall interest rate structure to move down within the policy rate easing already effected by the Reserve bank," it said, adding its latest rate cut reinforced the case.
Reacting to the RBI rate cut, ICICI Bank, India's largest private sector bank by net profit, announced a reduction in both deposit and lending rates after trading hours on Tuesday, 21 April 2009.
The RBI cut is growth estimate for the year ended March 2009 (FY 2009) to 6.5% to 6.7%, from 7% projected earlier. It has forecast growth of around 6% for the year ending March 2010 (FY 2010).
The fiscal and monetary stimulus measures initiated during 2008-09 coupled with lower commodity prices could cushion the downturn in the growth momentum during 2009-10 by stabilizing domestic economic activity to some extent, RBI said in a statement. However, any upturn in the growth momentum is unlikely in view of the projected contraction in global demand during 2009, particularly decline in trade, it added.
Strong rural demand, lagged impact of monetary and fiscal stimuli, softening of domestic input prices, investment demand from brown-field expansion projects and some restructuring initiatives are expected to have a positive impact on industrial production in the coming months, the RBI said.
While moderation in internal accruals has an adverse effect on corporate investment, decline in input prices and reduction in borrowing costs may have a favourable impact on profitability of the corporate sector going forward, the RBI said.
The central bank said that managing large government borrowing in FY 2010 in a non-disruptive manner would be a major challenge, and said it would used a mix of monetary and debt management tools to ensure this was done smoothly. Large borrowings also militate against the low interest rate environment that the RBI is trying to maintain to spur investment demand in keeping with the stance of monetary policy, the central bank said in its policy statement.
The RBI said wholesale-priced based inflation was expected to turn negative early in the current fiscal year, but this should not be interpreted as deflation for policy purposes. It projected WPI inflation would be around 4% at the end of FY 2010.
The RBI said a planned April 2009 review of the policy on foreign banks in India would now not go ahead until there was greater clarity regarding stability, recovery of the global financial system and better global coordination on regulation and supervision.
A good news for the economy is forecast of a near normal monsoon by the India Meteorological Department (IMD) on 17 April 2009. The IMD said rainfall in the June-September 2009 monsoon season was expected to be 96% of the long-term average. The outlook is among the nation's most widely watched indicator as monsoon rains are a major influence on output of key crops, economic activity and also affects sentiment in the country's financial markets.
Meanwhile, foreign funds turned sellers on Tuesday after recent heavy buying. Foreign institutional investors (FIIs) sold shares worth a net Rs 62.70 crore on Tuesday, 21 April 2009. FII inflow in April 2009 totaled Rs 4,547 crore (till 21 April 2009). FII outflow in calendar year 2009 totaled Rs 2,124.60 crore (till 21 April 2009).
FIIs had resorted to heavy selling of Indian stocks in the first two months of calendar 2009. Domestic institutional investors had absorbed the selling by FIIs.
The BSE 30-share Sensex was down 80.57 points or 0.74% to 10,817.54. At the day's high of 11,036.25, the Sensex rose 138.13 points in mid-morning trade. At the day's low of 10,715.66, the Sensex fell 182.45 points in afternoon trade.
The S&P CNX Nifty was down 35 points or 1.04% to 3,330.30.
The BSE clocked a turnover of Rs 5,003 crore, lower than Rs 5,109.37 crore on Tuesday 21 April 2009.
Nifty April 2009 futures were at 3333, at a premium of 2.70 points as compared to the spot closing of 3330.30. Turnover in NSE's futures & options (F&O) segment was Rs 70,645.94 crore, lower than Rs 72,749.77 crore on Tuesday, 21 April 2009.
The BSE Sensex is up 1,170.23 points or 12.13% in calendar 2009 from its close of 9,647.31 on 31 December 2008.
Coming back to today's trade, the BSE Mid-Cap index fell 1.15%. The BSE Small-Cap index fell 1.62%. Both the indices underperformed the Sensex.
The BSE Realty index (down 4.68%), the BSE Consumer Durables index (down 3.99%), the BSE Capital Goods index (down 2.8%), the BSE Auto index (down 2.23%), the BSE PSU index (down 1.62%), the BSE Power index (down 1.56%), the BSE Metal index (down 1.48%), the BSE Healthcare index (down 1.28%), the BSE Bankex (down 0.8%) underperfomed the Sensex.
The BSE FMCG index (up 0.18%), the BSE IT index (up 0.1%), the BSE Oil & Gas index (down 0.36%), the BSE TECk index (down 0.64%), outperfomed the Sensex.
The market breadth, indicating the overall health of the market, was weak in contrast to a strong breadth earlier in the day. On BSE, 1,072 stocks advanced as compared to 1,464 that declined. A total of 58 shares remained unchanged. The breadth was much stronger earlier in the day.
From the 30 share Sensex pack 23 stocks fell while rest gained.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 0.59% to Rs 1,716.10 ahead of its Q4 March 2009 result to be declared tomorrow. The stock was volatile. It hit a high of Rs 1,732 and a low of Rs 1,692. Lower refining margin is likely to weigh on Reliance Industries (RIL)'s performance in Q4 March 2009. RIL's gross refining margin is expected to have fallen sharply to $10 a barrel to $11 a barrel in Q4 March 2009 from $15.5 a barrel in Q4 March 2008. However, a sharp fall in rupee against the dollar will mitigate the negative impact.
A total of 12 brokerages expect a between 17.1% fall to a 2.2% rise in RIL's net profit at between Rs 3242.70 crore to Rs 4000 crore in Q4 March 2009 over Q4 March 2008. These 12 brokerages expect a between 47.3% fall to a 13.5% growth in sales at between Rs 19640 crore to Rs 42310.30 crore in Q4 March 2009 over Q4 March 2008.
Banking stocks were volatile caught between fears of rising defaults in a weakening economy and hopes that lower interest rates will boost lending growth. India's largest bank in terms of assets and branch network State Bank of India (SBI) fell 1.81% to Rs 1,232.60. It hit a high of Rs 1,279.80 and a low of Rs 1,225.60. SBI chairman O.P. Bhatt on Tuesday said interest rate cuts by the Reserve Bank of India were a signal for commercial banks to lower their rates. He said a decision on whether SBI would lower rates would be taken after a meeting of the bank's asset-liability. SBI's advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008.
India's second largest private sector bank by operating income HDFC Bank rose 0.25% to Rs 1,089.20. It hit a high of Rs 1,100 and a low of Rs 1,066. Its American depository receipt (ADR) rose 5.17% on Tuesday. HDFC Bank announces Q4 March 2009 results tomorrow. A total of 13 brokerages expect a between 14% to 44% growth in HDFC Bank's net profit at between Rs 536.40 crore to Rs 676.90 crore in Q4 March 2009 over Q4 March 2008.
India's largest private sector bank by net profit ICICI Bank was up 0.35% to Rs 400.20. It hit a high of Rs 412.80 ad a low of Rs 390.60. ICICI Bank cut its lending rates by 50 basis points after the central bank cut official interest rates on Tuesday 21 April 2009. The benchmark advance rate, or the rate that it charges its top customers, now stands at 16.25% from 16.75%, effective from today.
ICICI Bank also cut rates for retail customers by 50 basis points. The rates on deposits have been cut between 25 to 50 basis points, with effect from Friday 24 April 2009, the bank said. Its American depository receipts (ADR) rose 2.21% on Tuesday 21 April 2009. ICICI Bank's advance tax payment remained unchanged at Rs 250 crore in Q4 March 2009 when compared to Q4 March 2008.
India's biggest dedicated housing finance firm by operating income HDFC was down 0.61% to Rs 1,736.60. It hit a high of Rs 1,795 and a low of Rs 1,707.25.
Capital goods stocks fell on worries a slowing economy will crimp orders. Larsen & Toubro, Bharat Heavy Electricals, ABB, Thermax fell by between 2.83% to 5.6%.
Metal stocks fell as copper prices fell on the London Metal Exchange (LME) after a recent sharp surge. Sterlite Industries, Tata Steel, Hindalco Industries, National Aluminum Company, Hindustan Zinc, Steel Authority of India fell by between 1.29% to 3.87%.
Auto stocks fell on profit taking after a recent sharp surge in prices. Tata Motors, Maruti Suzuki India and Mahindra & Mahindra fell by between 0.43% to 3.72%.
India's largest motorbike maker by sales Hero Honda Motors fell 1.73% even after net profit rose 34.64% to Rs 402.17 crore in Q4 March 2009 over Q4 March 2008.
Realty stocks fell on profit taking after a recent surge in prices. DLF, Indiabulls Real Estate and Unitech fell by between 4.3% to 8.86%.
Some FMCG stocks fell on profit taking after a recent solid surge triggered by expectations of a surge in sales due to forecast of a good monsoon this year. Hindustan Unilever, Tata Tea, Nestle India, Britannia Industries an Dabur India fell by between 0.45% to 2.13%. FMCG firms derive a substantial revenue from rural markets.
Healthcare stocks fell on profit taking after a recent solid surge triggered by expectations of better Q4 March 2009 results following reports of higher advance tax payment by these firms. Ranbaxy Laboratories, Sun Pharmaceutical Industries, Cipla, Biocon, Lupin fell by between 2.45% to 3.25%.
Outsourcing focussed IT firms fell in volatile trade on fears a weak global economy would cut the amount firms spent on technology. India's largest software services exporter by sales TCS fell 1.59% to Rs 542.95. It hit a high of Rs 561 and a low of Rs 528. India's fifth largest IT exporter by sales HCL Technologies fell 9.65%.
India's third largest software services exporter, Wipro rose 2.7% to Rs 281.65 as Q4 results beat market expectations. However stock came off the day's high of Rs 294.95. Wipro reported 14.8% rise in Q4 consolidated net profit at Rs 1010 crore on 13.5% rise in total income to Rs 6,583.20 crore in Q4 March 2009 over Q4 March 2008. The company announced the results before trading hours.
Wipro has forecast between $1.009 billion and $1.025 billion in revenue from information technology services in the quarter ending 30 June 2009, lower than the $1.058 billion posted in the three months ended 31 March 2009.
Wipro Chairman Azim Premji said the company did a major re-organization of its software business at the beginning of the last financial year and hopes to emerge stronger than before. Chief Financial Officer Suresh Senapaty said operating margins for the software business expanded to 21.8% during the quarter from 21% in year-earlier period, in spite of lower business volumes.
India's second largest software services exporter Infosys Technologies rose 1.56% to Rs 1,379.35. It hit a high of Rs 1,385 and a low of Rs 1,356.15. Its ADR rose 0.37% overnight.
India's largest cement maker by sales ACC rose 5.26% as net profit rose 13.2% to Rs 404.76 crore on 13.1% rise in total income to Rs 2,105.9 crore in Q1 March 2009 over Q1 March 2008.
Ultratech Cement rose 0.38% after net profit rose 9.39% to Rs 309.46 crore on 15.95% rise in total income to Rs 1888.86 crore in Q4 March 2009 over Q4 March 2008. The company announced the results after trading hours on Tuesday, 21 April 2009.
Ambuja Cements rose 1.41% ahead of its ahead of its Q1 March 2009 result today.
Key benchmark indices are likely to extend losses for the third consecutive day in a choppy trade mirroring subdued Asian markets. The SGX Nifty futures for April 2009 series was down 3 points in Singapore. However stock specefic activity will be high in companies that will be announcing their March 2009 quarterly results.
ACC, Ambuja Cement, GTL, HCL Technologies, Hindustan Zinc, Marico, Tata Sponge Iron, Yes Bank and Zee Enterprises will declare their March 2009 quarterly results today, 22 April 2009.
Political uncertainty, with polling for India's 15th Lok Sabha underway, may lead to volatile swings on the bourses. The month-long parliamentary elections that began on 16 April 2009 will conclude on 13 May 2009 with results due on 16 May 2009. Poll estimates point to a fractured mandate.
Asian markets were trading mixed today, 22 April 2009. Key benchmark indices in China and South Korea rose 0.28% and 0.84% respectively. However indices in Hong Kong, Taiwan, Singapore, and Japan were down by between 0.02% and 1.48%.
US markets gained on Tuesday, 21 April 2009 as investors were encouraged by comments from Treasury Secretary Tim Geithner that most banks are well capitalized.
The Dow Jones industrial average gained 127.83 points, or 1.6%, to 7,969.56. The S&P 500 index rose 17.69 points, or 2.1%, to 850.08, and the Nasdaq Composite index rose 35.64 points, or 2.2%, to 1,643.85
Back home, key benchmark indices settled lower for the second running day on Tuesday, 21 April 2009 on investors continued to book profits after a recent surge. The BSE 30-share Sensex fell 81.39 points or 0.74% and the S&P CNX Nifty lost 11.80 points or 0.35% to 3,365.30.
Earlier the BSE 30-share Sensex jumped 35.08% or 2862.69 points to 11,023.09 on 17 April 2009 from a 3-year closing low of 8,160.40 on 9 March 2009.
According to provisional data on NSE, foreign institutional investors (FIIs) were net sellers worth Rs 191.01 crore while domestic institutional investors funds sold shares worth Rs 187.69 crore on Tuesday, 21 April 2009.
Members are advised to note that based on the stock selection/exclusion criteria as prescribed by SEBI vide circular SEBI/DNPD/CIR-31/2006/ dated September 22, 2006 and NSE circular No NSE/F&O/029/2009 dated April 21, 2009 contracts for new expiry months in the following securities will not be available for trading on expiry of existing contract months.
3i Infotech Limited
Alok Industries Limited
Amtek Auto Ltd
Balaji Telefilms Ltd.
Ballarpur Industries Limited
Bata India Ltd
Birla Corporation Ltd
Bombay Dyeing & Mfg Co. Ltd
Central Bank of India
Development Credit Bank Limited
Edelweiss Capital Limited
Everonn Systems India Limited
Gateway Distriparks Limited
Gitanjali Gems Limited
Gujarat Narmada Valley Fertilizer Co. Ltd.
Gujarat Alkalies and Chemicals Ltd.
Havells India Limited
HCL Infosystems Ltd
Hindustan Oil Exploration Co. Ltd
IRB Infrastructure Developers Limited
Jet Airways (India) Ltd.
Kesoram Industries Ltd.
KSK Energy Ventures Limited
The Karnataka Bank Limited
Lakshmi Machine Works Ltd.
Mahindra Lifespace Developers Limited
Maharashtra Seamless Ltd
Monnet Ispat Ltd
Nava Bharat Ventures Limited
New Delhi Television Limited
Network 18 Fincap Limited
Peninsula Land Limited
Rajesh Exports Ltd.
Reliance Industrial Infrastructure Limited
S. Kumars Nationwide Ltd
SREI Infrastructure Finance Limited
Strides Arcolab Limited
Torrent Power Limited
TVS Motor Company Limited
UTV Software Communications Limited
However, the existing unexpired contracts for the month of and April, May and June 2009 would continue to be available for trading till their respective expiry and new strikes would also be introduced in these existing contract months.
This circular shall be effective from May 4, 2009.
For filing false shareholding details.
The Securities and Exchange Board of India (Sebi) has barred the promoters of soda ash maker Gujarat Heavy Chemicals (GHCL) from dealing in securities for allegedly violating various securities market laws including insider trading rules.
Those barred include chairman Sanjay Dalmia, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra. There are 43 others who also cannot trade in securities until further orders.
The Sebi found the company guilty of filing false shareholding information of the promoters repeatedly over the four quarters of 2008. In fact, in the last three quarters of the year, the overstatement was by over 100%.
While the actual promoter shareholding according to the data given by the company's registrar was 19.4%, 18.02% and 18.74% at the end of June, September and December 2008, the company had informed the exchanges that the promoters held 40.4%, 40.3% and 38.32%, respectively during these periods.
Sebi said GHCL had misled the investors which is a serious offence by a listed company and its management.
ArcelorMittal plans to cut the size of a planned steel plant in India by half and indefinitely defer the second plant. (BS)
The bauxite mines of NALCO at the Panchpatmali hills in Koraput district of Orissa are yet to restart operations after last week’s naxalite attack. (BS)
SEBI bars GHCL promoters and other top brass from stock market after investigations revealed that the company had filed false shareholding details. (BS)
Cipla won a patent fight against US-based Gilead Sciences on bird flu medicine in India. (BS)
NHAI alters bid process and project terms to lower risk for potential investors for the 19 highway projects. (BS)
Oracle Corp agreed to buy Sun Microsystems Inc for about US$7.4bn in cash. (BS)
The board of Axis Bank appointed Ms Shikha Sharma, MD, ICICI Prudential Life Insurance Company, as the bank’s new MD & CEO. (BL)
BHEL plans of picking up equity or even buying out forgings ventures in Eastern Europe and China. (BL)
Star Union Dai-ichi Life Insurance Co, formed jointly by Bank of India, Union Bank and Dai-chi Mutual Life, plans to infuse Rs8.5bn in the next five years. (BL)
TCS has announced bonus issue in the ratio of 1:1. (ET)
Indiabulls Real Estate has sold 15,730 sq ft area in its upcoming commercial complex at Lower Parel in central Mumbai for Rs300mn to British Council. (ET)
Power Grid Corporation plans to raise up to Rs30bn by issuing fresh shares by end of FY10. (ET)
Public sector power utilities NTPC, NHPC, Power Grid and Damodar Valley Corporation will jointly set up an online high power short circuit testing facility at a cost of Rs2.5bn. (ET)
Tata Teleservices has asked government to process its applications for GSM licences and spectrum in three circles - Assam, North East and J&K. (ET)
Vodafone and Onmobile have entered into an agreement which would enable Vodafone to use value-added services of Onmobile in emerging markets. (ET)
Reliance-ADAG’s DTH arm, Big TV to hire 15,000 tech professionals. (ET)
Tata Teleservices’ US$2bn capex plan for two years till 2010 for its GSM roll out and CDMA operations remains on track. (FE)
Tech Mahindra has ruled out any immediate job cuts among Satyam employees, but salary cuts are possible. (FE)
Air India has decided to cut fares by as much as 70% on 35 sectors starting today. (ET)
Jet Airways is planning to cut its fleet by nearly a fifth. (ET)
SEBI has barred the promoters of GHCL, along with its top management, from dealing the securities market until further orders. (ET)
Bajaj Finserv entered into a 49:51 JV agreement with Allianz Global Investors to foray into the mutual fund business. (FE)
Adani Power - an Adani Enterprises company is expected to re-file its draft red herring prospectus with SEBI for its proposed Rs22bn IPO soon. (ET)
JNPT has signed a sister port agreement with Spain-based Gijon port authority. (ET)
BEML has set up an assembly unit in Brazil. (ET)
Oracle to buy Sun Microsystems for US$7.4bn. (ET)
The RBI survey said that the economy will grow at 5.7% in FY10. (BS)
Retail loan growth drops to single-digit level in FY09. (BS)
The Government will soon give infrastructure status to the tourism sector. (FE)
Take what you can use and let the rest go by.
The rate cut did little to help the bull’s cause on Tuesday. But global cues today point to a better start at least. Financial shares helped the US indices recoup their losses after Treasury Secretary Timothy Geithner said the vast majority of the nation’s banks have enough capital lessening fears about banks having to raise more capital.
What the Indian banks do following the RBI rate cuts will be watched. A few banks have already announced a cut. The RBI governor also indicated that banks have been exaggerating worries about fear of losing deposits.Wipro Ltd has posted a net profit of Rs10.10bn for the quarter ended March 31, 2009 as compared to Rs 8.8bn for the quarter ended March 31, 2008. The total income has increased from Rs57.97bn for the quarter ended March 31, 2008 to Rs65.83bn for the quarter ended March 31, 2009
The NSE on Tuesday announced the exclusion of 50 stocks from the F&O segment. Among the counters include Reliance Industrial Infrastructure, 3i Infotech, Ballarpur Industries, Bata India, Edelweiss, Gateway Distriparks, Gitanjali Gems, Hindustan Oil Exploration, Jet Airways, MindTree, MRF, NIIT, NDTV, S. Kumar’s Nationwide, TVS Motor, UTV Software and Wockhardt.
Asian markets are higher too with Japan’s export slump slowing in March, probably indicating that signs of recession may be easing. Oil climbed from a five-week low with crude futures rising 1.4%, following stocks higher.
Avoid fresh positions for the time being and use the gains to exit or shuffle portfolio.
Results today: ACC, Ambuja, Hind Zinc, M&M Fin, Marico, Reliance Industrial Infra, Yes Bank, Zee.
While contracts for new expiry months in these securities would not be available for trading on expiry of existing contract months, the existing unexpired contracts for April, May and June 2009 would continue to be available for trading till their respective expiry, said the NSE statement.
The NSE also announced fresh eligibility criteria for inclusion in F&O segment. The conditions are that the stock would be chosen from among the top 500 stocks in terms of average daily market capitalisation and average daily traded value in the previous six months on a rolling basis; the stock’s median quarter sigma order size (the average of the median buying and selling price) over the last six months should be not less than Rs 5 lakh; the market wide position limit (MWPL) in the stock should not be less than Rs1bn.
For an existing F&O stock, the continued eligibility criteria is that market wide position limit in the stock should not be less than Rs600mn and stock’s median quarter-sigma order size over the last six months should be not less than Rs2 lakh.
Indian market ended in the red on Tuesday extending losing streak to second straight trading session. After starting off with a negative gap down, key indices staged a smart and a gradual come back after the Central bank cut interest rates for the sixth time.
RBI reduced the reverse repurchase rate to 3.25% from 3.5% and the repurchase rate, or it's overnight lending rate, by a quarter-point to 4.75%, and kept the cash reserve ratio unchanged at 5%.
However, bulls were unable to hold on to their gains as profit booking at higher levels dragged the key indices to end with losses.
The banking, auto and capital goods stocks were among them major losers even the mid-cap stocks witnessed some selling pressure. However, the realty, FMCG and select Pharma stocks were among the major gainers.
Finally, the BSE Sensex slipped 81 points to close at 10,898 and the NSE Nifty ended lower by 12 points at 3,365.
Punj Lloyd announced that its wholly-owned UK subsidiary, Simon Carves Ltd ("SCL"), received a decision in adjudication proceedings initiated on December 22, 2008, regarding the termination, by Sabic UK Petrochemicals Ltd ("Sabic"), of a contract originally awarded in 2006 to design, build, construct and pre-commission a Low Density Polyethylene Plant at the Wilton Site in the UK.
Sable had earlier terminated this contract prior to its agreed completion date. SCL decided to seek the views of an Adjudicator as to the grounds upon which Sabic terminated the contract.
The adjudication decision has been received which is in favour of Sabic. This as an Interim decision in a longer dispute resolution process.
SCL will exercise its right to have all the issues that were heard by the Adjudicator, determined by the Court.
Whilst this initial decision is disappointing, SCL will now proceed to the next stage of dispute resolution by taking the necessary steps in consideration of court proceedings.
Shares of Punj Lloyd dropped sharply by 8.5% to Rs103 after hitting an intra-day high of Rs113 and a low of Rs98 and recorded volumes of over 10mn shares on BSE.
Shares of Welspun Gujarat rallied by over 15% to Rs103 after the company announced the demerger of its Plate-cum-Coil mill into a 100% subsidiary. The demerger is subject to statutory/regulatory approvals which includes Shareholders, Creditors and High Court and is likely to take about 4 months time.
The scrip touched an intra-day high of Rs107 and a low of Rs87 and recorded volumes of over 0.7mn shares on BSE
Prices end higher after dropping more than 3% earlier
Crude oil pared earlier losses and ended higher on Tuesday, 21 April, 2009. Prices rose in synchronization with US stocks today.
On Tuesday, crude-oil futures for light sweet crude for May delivery closed at $46.51/barrel (higher by $0.63 or 1.4%) on the New York Mercantile Exchange. Earlier in the day, it dropped to a low of $43.83. Last week, crude ended lower by 3.7%.
Crude ended March trading up 10.9%. It rallied 11.3% in the first quarter. For the month of February, crude prices had ended higher by 1.5%.
Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 68.8% since then. Year to date, in 2009, crude prices are higher by 6.2%. On a yearly basis, crude prices are lower by 55.6%.
Crude traded in the lower regions earlier today as earnings from Du Pont and Caterpillar fuelled economic worries once again.
Earning reports dominated today. Caterpillar topped earnings expectations. DuPont topped the consensus earnings estimate and issued in-line guidance for 2009. Dow component Merck missed earnings expectations, though.
Also at the Nymex on Tuesday, May reformulated gasoline rose slightly to $1.4144 a gallon and May heating oil was up 1.62 cents, or 1.2%, to $1.3478 a gallon.
May natural gas futures fell 2.9 cents, or 0.8%, to $3.511 per million British thermal units.
Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for May delivery closed at Rs 2,468/barrel, lower by Rs 13 (0.52%) against previous day's close. Natural gas for April delivery closed at Rs 185.2/mmbtu, lower by Rs 3.5/mmbtu (1.8%).
Gold and silver prices end lower amid mixed earning reports at Wall Street
Despite a moderately weak dollar, bullion metals ended lower on Tuesday, 21 April, 2009. Gold prices gave up earlier gains. Despite mixed batch of economic reports once again raising concerns about the overall economic scenario, the same failed to increase the appeal of precious metals as an alternate source of investment.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Tuesday, Comex Gold for June delivery fell $4.8 (0.5%) to close at $882.7 an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.7%. Year to date, gold prices are lower by 0.2%.
For the month of March, gold fell 2.1%, down for the first month in five. But the metal gained 4.3% in the first quarter. Before March, for the month of February, gold ended higher by 7.4%. For January, 2009, gold had gained 3.9%.
On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped somewhat (16%) since then.
On Tuesday, Comex silver futures for May delivery fell 4.5 cents (0.4%) at $12.06 an ounce. Year to date, silver has climbed 6.2% this year. For 2008, silver had lost 24%.
Earning reports dominated today. Caterpillar topped earnings expectations. DuPont topped the consensus earnings estimate and issued in-line guidance for 2009. Dow component Merck missed earnings expectations, though.
After yesterday's close, IBM and Texas Instruments reported earnings. IBM reported earnings topping bottomline estimates but the company's topline fell a little short of expectations. On the other hand Texas Instruments reported better than expected earnings. The company posted a profit against an expected loss. The company's topline also topped expectations.
In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
Last year, the weakening dollar and higher global demand for raw materials had led to records for commodities including gold. Gold reached a record in March 2008 as a U.S. housing slump and credit crisis spurred the Federal Reserve to slash borrowing costs. In the last move, the Federal Reserve has cuts its target bank lending rate to 0.25% from 5.25% in September, 2007. The Fed did it in nine steps.
Prior to 2008, gold had witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007 as lower interest rates had sent the dollar tumbling, and crude-oil prices rose to a record. Silver had climbed 16% in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.
At the MCX, gold prices for June delivery closed lower by Rs 122 (0.8%) at Rs 14,293 per 10 grams. Prices rose to a high of Rs 14,565 per 10 grams and fell to a low of Rs 14,276 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 202 (0.99%) lower at Rs 20,169/Kg. Prices opened at Rs 20,480/kg and fell to a low of Rs 20,127/Kg during the day's trading.