Godrej Properties IPO Note

Godrej Properties IPO Note

Info Edge

Info Edge

Tata Steel December 2009 futures at premium

Turnover declines

Nifty December 2009 futures were at 5,126.25, at a premium of 14.25 points as compared to the spot closing of 5,112. Turnover in NSE's futures & options (F&O) segment was Rs 61,314.31 crore, lower than Rs 69,428.98 crore on Tuesday, 8 December 2009.

Tata Steel December 2009 futures were at premium at 548.50 compared to the spot closing of 546.

Unitech December 2009 futures were near spot price at 89.75 compared to the spot closing of 89.40.

Jindal Steel & Power December 2009 futures were near spot price at 725.50 compared to the spot closing of 725.

In the cash market, the S&P CNX Nifty fell 35.95 points or 0.70% at 5,112.

Wednesday woes continues to hammer Asian markets

Shanghai, Sydney, Sensex, Hang Seng, Nikkei finish in red while Seoul, Taiex edge higher

Stock markets in Asian region slip on Wednesday, 9 December 2009, after US corporate news increased worries on export demand and debt rating downgrades sent investors seeking safety ahead of the year end. The mood remained extremely cautious with doubts about the pace of economic recovery and Dubai debt worries resurfacing again. Focus has now shifted to November US retail sales and a deluge of Chinese economic data due on Friday to gauge how strong the global recovery really is.

On Wall Street, the Dow suffered a triple-digit loss by the closing bell Tuesday, as lingering concerns about the pace of economic recovery, both at home and abroad, weighed on stocks all day. The Dow Jones Industrial Average finished lower by 104 points, or 1%, to 10,286. The S&P 500 fell off by 11 points, or 1%, to 1092 and the Nasdaq slid 17 points or 0.8% to 2173.

In the commodity market, crude oil climbed above $73 a barrel in New York after an industry report showed U.S. supplies dropped, bolstering optimism that fuel demand in the biggest energy-consuming nation will increase.

Crude oil for January delivery gained as much as 72 cents, or 1 percent, to $73.34 a barrel in electronic trading on the New York Mercantile Exchange. It was at $73.01 at 3:12 p.m. in Singapore. Yesterday, the contract fell $1.31 to $72.62 a barrel, the lowest settlement since 9 October 2009.

Brent crude oil for January settlement rose as much as 53 cents, or 0.7%, to $75.72 a barrel on the London-based ICE Futures Europe exchange. It was at $75.52 a barrel at 3:12 p.m. Singapore time. The contract fell $1.24, or 1.6%, to $75.19 a barrel yesterday.

Gold gained in London as a weaker dollar attracted some investors to the metal after its longest losing streak since August. Gold for immediate delivery gained as much as $10.10, or 0.9%, to $1,138.50 an ounce and was at $1,136.02 at 9:22 a.m. local time. Bullion futures for February delivery on the New York Mercantile Exchange’s Comex unit were 0.6% lower at $1,136.70.

In the currency market, the U.S. dollar plummeted against its major counterparts on the back of higher oil prices.

The Japanese currency strengthened against major currencies for fourth day to as high as 88.18 against the greenback today in Tokyo, compared with 88.90 yesterday close.

The Hong Kong dollar was trading at HK$ 7.7504 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.

In Sydney trade, the Australian dollar fell under pressure on Wednesday after news about debt woes in Greece and Dubai gave investors a reason to sell riskier currencies. At the local close, the dollar was trading at $US0.9067, down from yesterday’s $US0.9127, but slightly recovered from the day’s low at $US0.9016, with some dealers saying the selling pressure that started in New York overnight was carried over to provide trading momentum.

In Wellington trade, the New Zealand dollar consolidated at lower levels today after investors shunned speculative currencies again and as the focus turned to tomorrow's monetary policy statement from the Reserve Bank of New Zealand (RBNZ). The NZ dollar was US70.83c at 5pm, little changed from US70.80c at 8am and down from US71.47c at 5pm yesterday.

The South Korean won closed at 1,161.60 won to the U.S dollar, down 6.5 won from Tuesday's close of 1,155.10.

The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.2750, 0.0750 up from Tuesday’s close of NT$32.3500.

In equities, Asian shares were lower as renewed risk aversion gripped markets after Wall Street's sharp decline, while weaker-than-expected economic growth data in Japan hurt stocks there.

In Japan, shares market endured losses for second day in row, as markets around the region were sold off on continuing concerns about the health of the global economy rekindled by credit problems in Dubai and Greece. Sentiments are further dampened after the cabinet office data showed Japan’s gross domestic product rose at an annual 1.3% rate in the quarter ended September 2009, slower than the 4.8% the initial estimation by government as cautious companies decided to save, not to spend.

At the closing bell, the Nikkei 225 Stock Average index was at 10,004.72, eased 135.75 points or 1.34% from its previous close, while the broader Topix of all First Section issues on the Tokyo Stock Exchange tumbled 11.76 points, or 1.31%, to 884.94.

In Mainland China, share market plummeted with broad based sell off across the sector, as lingering concerns about the pace of economic recovery, both at home and abroad. Financials dragged the most amid worries Beijing will curb new lending in 2010 to avert asset bubbles, while materials, industrials, and energy stocks sold heavily as renewed risk aversion gripped markets in the wake of a sharp fall On Wall Street and European market.

The Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, plummeted 57.1 points, or 1.73%, to 3,239.56, meanwhile the Shenzhen Component Index on the smaller Shenzhen Stock Exchange tumbled 1.14% or 158.11 points, to 13,772.17. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, stumbled 1.92%, to 3,554.48.

In Hong Kong, the benchmark continued its southward movement registering the fourth consecutive dip in row in response to weakness in European and US markets overnight, reignited risk aversion due to uncertainties over the prospects for the recovery. At the closing bell, the Hang Seng Index stumbled 318.76 points, or 1.44%, to 21,741.76, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, shrank 252.74 points, or 1.92%, to 12,899.36.

In Australia, the stock market extended losing streak for third consecutive day, as sluggish commodity prices, widening nation’s trade deficit, and on continuing concerns about the health of the global economy. At the closing bell, the benchmark S&P/ASX200 index retreated 32.7 points, or 0.7%, to 4,637.9, meanwhile the broader All Ordinaries retracted 33.80 points, or 0.72%, to 4,652.6.

On the economic front, the statistics bureau of Australia said that the number of loans granted to build or buy houses and apartments in Australia dropped 1.4% in October from the previous month. The Australian Bureau of Statistics said country’s trade deficit increased from A$1.85 billion in September to a revised A$2.38 billion in October. The Westpac-Melbourne Institute index of consumer sentiment dropped from 118.3 in November to 113.8 points in December.

In New Zealand, benchmark index continued its southward movement on Wednesday registering the fourth consecutive dip in a row. The NZX50 declined 0.31% or 9.67 points to 3127.64. The NZX 15 decreased 0.37% or 21.11 points to close at 5665.31.

In South Korea, stocks closed higher as investors shrugged off concerns that Dubai debt woes and a cut in Greece's credit rating may dent the global economic recovery. Reversing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI) rose 6.39 points to 1,634.17.

In Singapore, stocks market dragged by financials and blue chips stocks after debt rating downgrades of Greece sent investors seeking safety ahead of the year-end. At the closing bell, the blue chip Straits Times Index was at 2,797.21, fell 8.29 points or 0.3%, off an intraday low of 2,784.64.

In Taiwan, Stock market in Taiwan continued to teeter-totter between the gains and losses as it finished Wednesday, 9 December 2009, at 17 month high, as investors ignored weakness on Wall Street and piled into shares of big tech companies with better earnings outlooks. The benchmark Taiex share index resumed with gains, by finishing the day higher by 28.71 points or 0.37% at 7797.42, the highest closing since 26 June 2008 when market finished the day at 7811.80.

In Philippines, the stock market closed lower tracking the lackluster performance of overseas markets following the losses on the Wall Street overnight. At the concluding bell, the benchmark index PSEi fell 1.02% or 30.82 points to 2,981.25, while the All Shares index tumbled 0.83% or 15.64 points to 1,860.36.

In India, the key benchmark indices lost ground in choppy trade as weak global stocks weighed on investor sentiment. The BSE Sensex was down 102.46 points or 0.59% to 17,125.22. The S&P CNX Nifty was down 35.95 points or 0.68% to 5112.00.

Elsewhere, Malaysia’s Kula Lumpur Composite index finished lower at 1255.76 while stock markets in Indonesia’s Jakarta Composite index inched down 2.59 points ending the day higher at 2481.30.

In other regional market, a drop for financials dragged Europe stocks lower on Wednesday, led lower by a further fall in the Greek bank sector as well as a decline for Man Group on a drop in performance in one of its key funds.

On a regional level, the U.K. FTSE 100 index declined 0.2% to 5,214.20 ahead of the U.K. government's pre-budget report where it will flag up future fiscal targets, due at 7:30 a.m. Eastern. The French CAC-40 index declined 0.5% or 20.41 points to 3,765 and the German DAX index declined 0.35% or 20 points to 5,669.

BSE Bulk Deals to Watch - Dec 9 2009

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/12/2009 524348 Aarti Drugs SETU SECURITIES PVT LTD B 81832 113.80
9/12/2009 524348 Aarti Drugs MATRIX EQUITRADE PVT. LTD. B 71559 107.11
9/12/2009 524348 Aarti Drugs HITESH SHASHIKANT JHAVERI B 147130 114.15
9/12/2009 524348 Aarti Drugs Naman Securities & Finance Pvt. Ltd. B 61770 112.23
9/12/2009 524348 Aarti Drugs JMP SECURITIES PVT LTD B 62177 112.65
9/12/2009 524348 Aarti Drugs A.A.DOSHI SHARE & STOCK BROKERS LTD B 81870 113.51
9/12/2009 524348 Aarti Drugs SETU SECURITIES PVT LTD S 76936 113.47
9/12/2009 524348 Aarti Drugs MATRIX EQUITRADE PVT. LTD. S 71559 107.37
9/12/2009 524348 Aarti Drugs HITESH SHASHIKANT JHAVERI S 144939 114.00
9/12/2009 524348 Aarti Drugs A.A.DOSHI SHARE & STOCK BROKERS LTD S 81870 113.88
9/12/2009 530901 ACIL Cot Inds PENGUINE EXIM PVT LTD B 75000 30.70
9/12/2009 530901 ACIL Cot Inds SREE RAM PLYWOOD MANUFACTURING COMPANY PRIVATE LIMITED B 85000 30.70
9/12/2009 530901 ACIL Cot Inds HOOGHLY MILLS PROJECTS LTD B 70000 30.70
9/12/2009 530901 ACIL Cot Inds TODI SECURITIES PVT LTD B 220000 31.17
9/12/2009 530901 ACIL Cot Inds THIRANI SECURITIES PVT. LTD . B 100000 30.70
9/12/2009 530901 ACIL Cot Inds KRISHNA DEVI KEDIA S 66273 30.70
9/12/2009 530901 ACIL Cot Inds MAHENDRA N SURANA HUF S 150000 30.70
9/12/2009 530901 ACIL Cot Inds KUSUM SURANA S 125000 30.70
9/12/2009 530901 ACIL Cot Inds NIHALCHAND SURANA S 75050 30.70
9/12/2009 530901 ACIL Cot Inds RAJENDRA N SURANA S 125000 30.70
9/12/2009 530901 ACIL Cot Inds BEENA R. SURANA S 149000 30.70
9/12/2009 530901 ACIL Cot Inds RAJENDRA NIHALCHAND SURANA S 151307 31.56
9/12/2009 530901 ACIL Cot Inds MAHENDRA N. SURANA S 150000 30.70
9/12/2009 511706 Action Fin M/S.ULTRA CARE SECURITIES P.LTD B 180000 20.50
9/12/2009 511706 Action Fin PKJ SHARE BROKER LTD S 190000 20.48
9/12/2009 517041 Ador Welding SETU SECURITIES PVT LTD B 131367 203.71
9/12/2009 517041 Ador Welding OPG SECURITIES P LTD B 115640 196.30
9/12/2009 517041 Ador Welding ANGEL INFIN PRIVATE LIMITED B 84475 202.78
9/12/2009 517041 Ador Welding SETU SECURITIES PVT LTD S 133157 203.02
9/12/2009 517041 Ador Welding OPG SECURITIES P LTD S 115640 197.54
9/12/2009 504629 Anil Special SAMTUL INVESTMENTS LTD S 150000 11.41
9/12/2009 507526 Associated Alco PRASANN KUMAR KEDIA HUF B 114600 34.35
9/12/2009 507526 Associated Alco OCIANIC DEVELOPERS P LTD S 114600 34.35
9/12/2009 533138 ASTEC LIFE AANGI SHARES & SERVICES PVT. LTD. B 113521 94.81
9/12/2009 533138 ASTEC LIFE AANGI SHARES & SERVICES PVT. LTD. S 95521 94.02
9/12/2009 508136 B&A NATIONAL INSURANCE CO LTD S 28000 230.86
9/12/2009 500045 Bellary Steels JMP SECURITIES PVT LTD B 1276373 3.18
9/12/2009 526853 Bilcare PASHA FINANCE PVT. LTD. S 115674 432.62
9/12/2009 524388 Crazy Infotech SRINIVASAN SWAMINATHAN S 373621 1.65
9/12/2009 532768 FIEM Inds NARESH KUMAR HUF B 111100 117.03
9/12/2009 532768 FIEM Inds NARESH KUMAR HUF S 70602 119.47
9/12/2009 532022 Filatex Fash SAGAR TEX CREATION PRIVATE LIMITED B 50000 14.68
9/12/2009 533048 GI ENGINERG KADAM HOLDING LTD S 41792 19.41
9/12/2009 533104 GLOBUS SPR SMART EQUITY BROKERS PRIVATE LIMITED B 153081 96.73
9/12/2009 533104 GLOBUS SPR OPG SECURITIES P LTD B 135192 97.62
9/12/2009 533104 GLOBUS SPR SMART EQUITY BROKERS PRIVATE LIMITED S 153081 96.99
9/12/2009 533104 GLOBUS SPR OPG SECURITIES P LTD S 135192 97.39
9/12/2009 511543 GSB Finance GSB SECURITIES PVT LTD B 50000 9.10
9/12/2009 511543 GSB Finance GSB SHARE CUSTODIAN SERVICES LTD S 50000 9.10
9/12/2009 524342 Indo Borax SRINIVAS LAXMAIAH MACHERLA B 20924 85.00
9/12/2009 524342 Indo Borax VALLA KATI B 39608 82.41
9/12/2009 524342 Indo Borax SRINIVAS LAXMAIAH MACHERLA S 20924 83.20
9/12/2009 524342 Indo Borax VALLA KATI S 39608 82.80
9/12/2009 524342 Indo Borax SAINATH HERBAL CARE MARKETING P.LTD S 54911 83.76
9/12/2009 509069 Infomedia 18 REKHA RAKESH JHUNJHUNWALA S 141943 78.13
9/12/2009 532940 J Kumar Infra KISHORE GAVRICHAND SHAH S 160000 180.62
9/12/2009 524378 JMDE Pack BHUPENDRA MEHTA S 30043 3.29
9/12/2009 522259 Kalindi Rail MBL & Co. LTD. B 67258 165.42
9/12/2009 522259 Kalindi Rail MBL & Co. LTD. S 67258 164.93
9/12/2009 532686 Kernex Micro OPG SECURITIES P LTD B 241865 124.91
9/12/2009 532686 Kernex Micro HITESH SHASHIKANT JHAVERI B 90005 131.49
9/12/2009 532686 Kernex Micro OPG SECURITIES P LTD S 241865 125.20
9/12/2009 532686 Kernex Micro A.A.DOSHI SHARE & STOCK BROKERS LTD S 62988 128.80
9/12/2009 530813 KRBL OPG SECURITIES P LTD B 161889 188.25
9/12/2009 530813 KRBL OPG SECURITIES P LTD S 161889 188.28
9/12/2009 513685 Multiarc India VIMLA JAJOO S 125437 4.55
9/12/2009 519560 Neha Intl S K INVESTMENTS B 100000 31.60
9/12/2009 519560 Neha Intl SURAJBHAN CHHABRA B 165000 31.60
9/12/2009 519560 Neha Intl VINOD REDDY GADDAM S 660301 31.60
9/12/2009 519560 Neha Intl VINOD REDDY GADDAM S 371000 31.60
9/12/2009 531996 Odyssey Corp AASHNAS AGARWAL B 89990 19.00
9/12/2009 531996 Odyssey Corp SHARDA CREATIONS PRIVATE LIMITED S 90000 19.00
9/12/2009 531496 Omkar Overseas FALGUNIBEN MAHAVIRBHAI GOHIL B 33195 35.55
9/12/2009 531769 PFL Infotech SANJAY MANAKCHAND KOTECHA B 30000 15.94
9/12/2009 531769 PFL Infotech KARISHMA DEELIPKUMAR KOTECHA B 45000 15.50
9/12/2009 531769 PFL Infotech ANKITA DEELIPKUMAR KOTECHA B 45000 15.50
9/12/2009 531769 PFL Infotech SHANTI KUMAR SURANA B 50000 15.50
9/12/2009 531769 PFL Infotech INDRASEN SHAH B 25000 15.50
9/12/2009 531769 PFL Infotech ROOPLATA MANAKCHAND JAIN S 50000 15.50
9/12/2009 531769 PFL Infotech INFOTECH INFIN AND TRADING PRIVATE LIMITED S 300000 15.50
9/12/2009 531769 PFL Infotech P KUMAR S 34265 15.70
9/12/2009 531855 Prabhav Inds CHUNILAL K AGRAWAL B 50000 30.50
9/12/2009 531855 Prabhav Inds RAMESHVIRAJ SHAH B 350000 30.50
9/12/2009 531855 Prabhav Inds SHREENATHJI FINSTOCK PVT LTD S 324800 30.53
9/12/2009 531855 Prabhav Inds KAVIT INVESTMENT PVT LTD S 100000 30.50
9/12/2009 517522 Rajratan Global SANGEETA CHORDIA B 61000 99.85
9/12/2009 517522 Rajratan Global MIDEX GLOBAL PVT LTD. S 60000 99.85
9/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 231484 30.88
9/12/2009 502587 Rama Pulp OMPARKASH GUPTA B 44204 30.46
9/12/2009 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 108893 31.09
9/12/2009 502587 Rama Pulp MARIGOLD INVESTRADE PRIVATE LIMITED S 121302 31.22
9/12/2009 502587 Rama Pulp VISHESH SHAHRA S 94806 30.01
9/12/2009 590077 Ranklin Sol P SHARMILA S 27500 56.63
9/12/2009 511585 Regency Trust SRINJANI KAJARIA S 20000 14.97
9/12/2009 531099 Rubra Med NILESH CHANDRAKANT SHETH S 30000 24.80
9/12/2009 531569 Sanjivani Par LEENA SASHIKANTBHAI SHAH B 40000 30.22
9/12/2009 532102 SBEC Sugar LONGWELL INVESTMENT PRI B 410000 13.30
9/12/2009 532102 SBEC Sugar TECHNICAST ENGINEERS LIMITED S 480000 13.31
9/12/2009 532323 Shiva Cement VISHWAS SECURITIES LTD. B 1335154 11.08
9/12/2009 532323 Shiva Cement COASTAL FERROTECH LIMITED S 850000 10.97
9/12/2009 532323 Shiva Cement VISHWAS SECURITIES LTD. S 1163846 11.07
9/12/2009 526500 Sterling Green JMP SECURITIES PVT LTD B 115923 31.66
9/12/2009 526500 Sterling Green BHAVIN Y MEHTA B 44161 30.49
9/12/2009 526500 Sterling Green JMP SECURITIES PVT LTD S 112397 31.94
9/12/2009 526500 Sterling Green BHAVIN Y MEHTA S 34160 30.40
9/12/2009 526133 Supertex Inds SHAISHIL T JHAVERI B 500684 3.35
9/12/2009 526133 Supertex Inds SHAISHIL T JHAVERI S 500684 3.27
9/12/2009 526133 Supertex Inds PRADIPBHAI RAJNIKANT RAITHATHA S 500000 3.14
9/12/2009 500408 Tata Elxsi SMART EQUITY BROKERS PRIVATE LIMITED B 157758 262.68
9/12/2009 500408 Tata Elxsi OPG SECURITIES P LTD B 325505 263.99
9/12/2009 500408 Tata Elxsi SMART EQUITY BROKERS PRIVATE LIMITED S 157758 262.83
9/12/2009 500408 Tata Elxsi OPG SECURITIES P LTD S 325505 264.11
9/12/2009 519228 Temptation Food COPTHALL MAURITIUS INVESTMENT LIMITED S 324542 35.72
9/12/2009 533121 THINKSOFT RAJENDRAKUMAR RATANCHAND OSWAL HUF B 103200 263.72
9/12/2009 533121 THINKSOFT OPG SECURITIES P LTD B 114155 264.63
9/12/2009 533121 THINKSOFT RAJENDRAKUMAR RATANCHAND OSWAL HUF S 103200 263.09
9/12/2009 533121 THINKSOFT OPG SECURITIES P LTD S 114155 264.42
9/12/2009 526139 Transgene Bio HITESH SHASHIKANT JHAVERI B 117146 54.37
9/12/2009 526139 Transgene Bio JMP SECURITIES PVT LTD B 154200 51.33
9/12/2009 526139 Transgene Bio HITESH SHASHIKANT JHAVERI S 86463 53.20
9/12/2009 526139 Transgene Bio JMP SECURITIES PVT LTD S 154269 52.66
9/12/2009 500231 Umang Dairies HITESH SHASHIKANT JHAVERI B 90009 31.10
9/12/2009 500231 Umang Dairies HITESH SHASHIKANT JHAVERI S 72352 31.10
9/12/2009 500231 Umang Dairies HITESH RAMJI JAVERI S 70000 31.10
9/12/2009 500231 Umang Dairies HARSHA HITESH JAVERI S 76227 31.10
9/12/2009 523796 Viceroy Hotels ICG Q LTD S 217332 37.34
9/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR B 28765 304.65
9/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M B 27026 307.74
9/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 29206 303.73
9/12/2009 531249 Well Pack Papers OMPARKASH GUPTA B 31359 308.27
9/12/2009 531249 Well Pack Papers SHOBHNABEN R PARMAR S 26600 312.56
9/12/2009 531249 Well Pack Papers PANDYA YAMINIBEN M S 27025 309.98
9/12/2009 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 26227 306.46
9/12/2009 531249 Well Pack Papers OMPARKASH GUPTA S 29995 306.62
9/12/2009 522029 Windsor Mach SAINATH HERBAL CARE MARKETING P.LTD B 175583 23.83
9/12/2009 532648 Yes Bank NATIONAL PENSION SERVICE B 1812260 266.00

NSE Bulk Deals to Watch - Dec 9 2009

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,66736,114.12,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,106322,113.54,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,BP FINTRADE PRIVATE LIMITED,BUY,63028,110.76,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,M/S RUKHMANI TRADERS,BUY,58572,114.49,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,MODEX INTERNATIONAL SECURITIES LTD.,BUY,72657,108.73,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,RAHUL DOSHI,BUY,185010,114.19,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,SETU SECURITIES LTD,BUY,167490,114.39,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,145654,114.38,-
09-DEC-2009,ADORWELD,Ador Welding Limited,SETU SECURITIES LTD,BUY,124722,203.75,-
09-DEC-2009,ADORWELD,Ador Welding Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,75170,203.94,-
09-DEC-2009,ANSALHSG,Ansal Housing and Constru,BP FINTRADE PRIVATE LIMITED,BUY,106240,72.94,-
09-DEC-2009,ANSALHSG,Ansal Housing and Constru,SETU SECURITIES LTD,BUY,109910,73.69,-
09-DEC-2009,ASTEC,Astec LifeSciences Ltd,RAHUL DOSHI,BUY,75046,94.46,-
09-DEC-2009,AUSTRAL,Austral Coke & Projects L,ANURADHA MEETAL,BUY,1625313,7.90,-
09-DEC-2009,FIEMIND,Fiem Industries Limited,NARESH KUMAR HUF,BUY,147125,116.54,-
09-DEC-2009,FIRSTWIN,First Winner Industries L,N.VGRAPICE & ADVERTISING P LTD,BUY,250000,23.18,-
09-DEC-2009,GPIL,Godawari Power And Ispat,BIRLA SUNLIFE ASSET MANAGEMENT CO LTD A/C PMS,BUY,162992,159.49,-
09-DEC-2009,JINDCOT,Jindal Cotex Ltd,SAPPHIRE LAND DEVELOPMENT PRIV,BUY,130056,110.25,-
09-DEC-2009,JKIL,J.Kumar Infraprojects Lim,SURENDRAKUMAR AGARWAL,BUY,3005,180.99,-
09-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,BUY,85335,164.98,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,64520,132.40,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,OM INVESTMENTS,BUY,92093,125.00,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,SETU SECURITIES LTD,BUY,80709,132.36,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,BUY,90020,132.40,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,104079,132.26,-
09-DEC-2009,NUCLEUS,Nucleus Software Exports,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,BUY,236294,130.89,-
09-DEC-2009,SABTN,Sri Adhikari Brothers Tel,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,10,41.90,-
09-DEC-2009,SABTN,Sri Adhikari Brothers Tel,WALLFORT FINANCIAL SERVICES LTD,BUY,62206,41.46,-
09-DEC-2009,SHOPERSTOP,Shoppers Stop Limited,RELIANCE MUTUAL FUND,BUY,500000,349.98,-
09-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,RAJENDRAKUMAR RATANCHAND OSWAL HUF,BUY,96446,263.75,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,61194,114.23,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,52322,111.85,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,BP FINTRADE PRIVATE LIMITED,SELL,59045,110.77,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,M/S RUKHMANI TRADERS,SELL,58344,114.07,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,MODEX INTERNATIONAL SECURITIES LTD.,SELL,72657,108.32,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,RAHUL DOSHI,SELL,185010,114.50,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,SETU SECURITIES LTD,SELL,159660,114.17,-
09-DEC-2009,AARTIDRUGS,Aarti Drugs Ltd.,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,145654,113.99,-
09-DEC-2009,ADORWELD,Ador Welding Limited,SETU SECURITIES LTD,SELL,124686,203.31,-
09-DEC-2009,ADORWELD,Ador Welding Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,75170,204.01,-
09-DEC-2009,ANSALHSG,Ansal Housing and Constru,BP FINTRADE PRIVATE LIMITED,SELL,85348,73.37,-
09-DEC-2009,ANSALHSG,Ansal Housing and Constru,SETU SECURITIES LTD,SELL,49279,73.59,-
09-DEC-2009,ASTEC,Astec LifeSciences Ltd,RAHUL DOSHI,SELL,85046,94.56,-
09-DEC-2009,AUSTRAL,Austral Coke & Projects L,ANURADHA MEETAL,SELL,1625313,7.86,-
09-DEC-2009,FIEMIND,Fiem Industries Limited,DAMANI MANMOHAN,SELL,82370,120.75,-
09-DEC-2009,FIEMIND,Fiem Industries Limited,NARESH KUMAR HUF,SELL,99469,119.80,-
09-DEC-2009,FIRSTWIN,First Winner Industries L,HARISHBHAI K PATEL,SELL,250000,23.18,-
09-DEC-2009,INFOMEDIA,Infomedia 18 Limited,REKHA JHUNJHUNWALA,SELL,122446,78.73,-
09-DEC-2009,JKIL,J.Kumar Infraprojects Lim,SURENDRAKUMAR AGARWAL,SELL,171331,180.57,-
09-DEC-2009,KALINDEE,Kalindee Rail Nirman (Eng,MBL & COMPANY LTD.,SELL,85335,165.67,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,38494,131.43,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,OM INVESTMENTS,SELL,92093,124.98,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,SETU SECURITIES LTD,SELL,61986,131.81,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,SELL,90020,132.40,-
09-DEC-2009,KERNEX,Kernex Microsystems (Indi,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,95889,129.23,-
09-DEC-2009,NUCLEUS,Nucleus Software Exports,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,SELL,236294,131.21,-
09-DEC-2009,SABTN,Sri Adhikari Brothers Tel,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,48015,40.75,-
09-DEC-2009,SABTN,Sri Adhikari Brothers Tel,WALLFORT FINANCIAL SERVICES LTD,SELL,2206,39.50,-
09-DEC-2009,SHOPERSTOP,Shoppers Stop Limited,UTI MUTUAL FUND A/C EQUITY FUND,SELL,350000,350.00,-
09-DEC-2009,THINKSOFT,Thinksoft Global Ser Ltd,RAJENDRAKUMAR RATANCHAND OSWAL HUF,SELL,96446,263.20,-

Banking, metal bears pull market 102 points lower

Today's major news

Alok Industries to wind up realty foray: the stock surged 5.36%.

Suzlon Energy bags contract from Rajasthan State Mines: the stock closed lower by 1.00%.

HCL inks tech infrastructure pact with Newscorp arm; the stock rose 1.96%.

Kiri Dyes to buy DyStar for 1 Euro; the stock jumps 4.39%.

Orient Abrasives is setting up a wind turbine project; the stock ends 2.59% higher.

Click here for more stories

Post-market summary

Global signals

European indices opened lower on Wednesday, with banks stocks under pressure on renewed concerns over their exposure to Dubai’s debt crisis. At the time of writing this report FTSE 100 was down by 0.35%.

Among major Asian indices, except Kospi all other indices closed lower. Nikki was able to sustain 10000 level. SGX Nifty closed 37 points lower.

On Wednesday, US stock futures rose marginally as Obama administration plans to extend the bailout package until the next October.

Indian indices

In the lack of triggers that could provide direction to the domestic market, the Sensex continued its volatility today also swinging by 170 points for the day. The market however closed lower on the back of weak global cues and selling pressure in metal and banking stocks. The Sensex opened 23 points lower; the day’s high was 17228 and the day’s low was 17057. At closing bell, the Sensex was at 17125, 102 points lower. Nifty closed 36 points lower at 5112.

Market sentiment

The market breadth, the number of advancing shares to declining ones, was marginally positive. Of the 2,888 stocks on the BSE, 1,507 stocks advanced, whereas 1,306 stocks declined. Seventy five stocks closed unchanged.

Sectoral & stock screening

Of the 13 sector indices on the BSE, five indices closed green while eight indices closed red. BSE IT surged the most with gains of 0.81% followed by BSE TECk that rose 0.74% for the day. Among losers BSE Metal slid the most by 2.09% followed by BSE Bankex that fell by 1.58%.

On stocks’ front, Tata Teleservices topped the chart with gain of 4.28% followed by Idea Cellular that rose by 3.96% and NMDC that rose by 3.90%. Among losers, Tata Steel slid the most by 4.17%, followed by Bank of Baroda that fell by 3.94% and Indiabulls Financial Services that shed 3.92%.

Viewing volumes

India’s second largest realty company Unitech saw a turnover of more than 1.57 crore shares to be followed by Suzlon Energy (1.41 crore shares), IFCI (1.15 crore shares), Reliance Natural Resources (0.50 crore shares) and Bharti Airtel (0.35 crore shares).

Tata Steel tumbles 4%

The key benchmark indices lost ground in choppy trade as weak global stocks weighed on investor sentiment. The BSE Sensex fell 102.46 points or 0.59%, off close to 100 points from the day's high and up close to 70 points from the day's low. Metal and banking stocks led the decline. Index heavyweight Reliance Industries (RIL) came off the day's low. IT stocks rose.

Intraday volatility was high. The market recovered soon after an initial slide caused by weak Asian stocks. It came off the higher level soon. The recovery resumed once again in mid-morning trade with the Sensex hitting positive zone for a brief period tracking higher US index futures. The market weakened once again later. The market came off the lower level after hitting a fresh intraday low in early afternoon trade. The market weakened again in late trade before cutting losses.

India VIX, a volatility index based on the S&P CNX Nifty index option prices, rose 2% to 26.99. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.

Meanwhile, Mumbai based realty firm Godrej Properties' initial public offering (IPO) of was subscribed 1.23 times by 16:00 IST on the first day of the issue today, 9 December 2009. The price band is at Rs 490-530 per share. The issue will close on 11 December 2009.

The initial public offer (IPO) of JSW Energy, a part of Sajjan Jindal-led JSW Group, was subscribed 1.65 times by 16:00 IST on the last day of issue today, 9 December 2009. The price band for the IPO is Rs 100 to Rs 115.

The government does not need to borrow more than planned to fund its additional proposed expenditure, Finance Minister Pranab Mukherjee said on Tuesday. The government said on Tuesday it will seek parliamentary approval to spend an extra Rs 25725-crore ($5.5 billion) for the fiscal year to end-March 2010.

The gross additional expenditure would be Rs 30943 crore, of which 5217 crore would be met through savings, the government said. The government will spend an extra Rs 3000 crore on fertiliser subsidies and Rs 3460 crore on food subsidies. The government would also spend Rs 800 crore on an equity infusion in state-run carrier Air India.

Capital inflows into India reflect investor confidence in the economy, the Reserve Bank of India (RBI) governor D Subbarao said on Monday 7 December 2009 at a televised panel discussion, although measures to control them could not be ruled out in case there was a surge in foreign funds that needed to be contained. "Going ahead should there be a surge of capital flows, I think we cannot rule out active capital management," Subbarao said. The RBI governor said he is not willing to debate at this time on the instruments or timing, as this will depend on how the situation evolves.

"In the medium term, task is to improve absorptive capacity of the economy. But going forward calibrating reserves roughly corresponding to current account deficit is the task," Subbarao said. C. Rangarajan, chairman of the Prime Minister's Economic Advisory Council, said in the discussion that inflows in the current year would be manageable. Rangarajan had said late last month that India could absorb as much as $100 billion of capital flows in 2009/10, well above a projected $57-$60 billion.

The Reserve Bank of India (RBI) may reportedly ask banks to impose a ceiling on their investments in mutual funds and also prescribe norms for such investments, as it attempts to tighten rising exposure and rein in deployment of banking funds indirectly in sectors or companies to which banks could not lend directly due to exposure limits.

European shares were lower on Wednesday, paced by falls in energy stocks and drugmakers as investors awaited fresh direction, possibly from the UK pre-budget report. The key benchmark indices in France, UK and Germany fell by between 0.16% to 0.35%.

There was plenty for investors to worry about, after Tuesday's ratings downgrade for Greece and a raft of Dubai government-controlled companies.

UK banks HSBC Holdings, Standard Chartered, Lloyds Banking Group and Royal Bank of Scotland have reportedly agreed to reschedule Dubai World's debt. The four banks have asked for more information from Dubai World about interest on the planned delayed payments and will hold a meeting later this month as they await a response, Dubai's Al Bayan newspaper said. It added that Dubai World is seeking to restructure around $26 billion of debt.

Meanwhile, Greek Finance Minister George Papaconstantinou said in a television interview on Wednesday that there is no risk Greece will default on its debt. Fitch Ratings on Tuesday downgraded Greece's sovereign debt rating to BBB+ from A-, making the nation the first in the euro zone to be rated less than single A.

Asian shares were lower Wednesday as renewed risk aversion gripped markets after Wall Street's sharp decline on Tuesday, while weaker-than-expected economic growth data in Japan hurt stocks there. The key benchmark indices in China, Hong Kong, Japan, Singapore and Indonesia fell by between 0.3% to 1.73%. But the key benchmark indices in South Korea and Taiwan rose by between 0.37% to 0.39%.

Japan's Gross domestic product rose at an annual 1.3% pace in September quarter, slower than the 4.8% reported in preliminary figures last month, the Cabinet Office said today in Tokyo.

Shares in China were being led lower by banks on concerns of capital raising leading to massive stock supply. Industrial Bank Co. said its shareholders had approved its plan to raise CNY18 billion in a rights issue to boost the lender's capital adequacy ratio and support rapid lending growth in the next few years.

China is experiencing a clear V-shaped economic recovery, Zhu Min, vice-governor of the People's Bank of China, was cited as saying on Tuesday.

Trading in US index futures indicated Dow could rise 26 points at the opening bell on Wednesday, 9 December 2009.

US stocks fell on Tuesday as 3M Co's disappointing outlook and a weak sales report from McDonald's Corp compounded investors' concerns about the outlook for a global recovery. The Dow Jones industrial average was down 104.14 points, or 1%, at 10,285.97. The Standard & Poor's 500 Index was down 11.31 points, or 1.03 % at 1,091.94. The Nasdaq Composite Index was down 16.62 points, or 0.76% at 2,172.99.

The BSE Sensex fell 102.46 points or 0.59% to 17,125.22. The Sensex rose 0.28 points at the day's high of 17227.96 in mid-morning trade. The Sensex fell 170.31 points at the day's low of 17057.37 in early afternoon trade.

The S&P CNX Nifty fell 35.95 points or 0.7% to 5112. Nifty December 2009 futures were at 5,126.25, at a premium of 14.25 points as compared to the spot closing of 5,112. Turnover in NSE's futures & options (F&O) segment was Rs 61,314.31 crore, lower than Rs 69,428.98 crore on Tuesday, 8 December 2009.

BSE clocked a higher turnover of Rs 5099 crore, higher than Rs 4968.65 crore on Tuesday, 8 December 2009.

The market breadth, indicating the overall health of the market was positive. On BSE, 1500 shares advanced as compared with 1312 that declined. A total of 76 shares remained unchanged.

Among the 30-member Sensex pack, 17 fell while the rest rose.

A deluge of global liquidity has boosted stocks across the globe this year. Governments and central banks around the world have injected trillions of dollars in the past one year to pull the world out of a most severe recession since the 1930s Great Depression. The Sensex is up 7477.91 points or 77.51% in calendar year 2009, as on 9 December 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8964.82 points or 109.85% as on 9 December 2009.

Coming back to today's trade, the BSE Mid-Cap index fell 0.58%. The BSE Small-cap index rose 0.36%. Both the indices outperformed the Sensex.

The sectoral indices on BSE showed a mixed trend. The BSE IT index (up 0.81%), the BSE Teck index (up 0.74%), the BSE Auto index (up 0.69%), the BSE PSU index (was flat), the BSE Consumer Durables index (was flat), the BSE Capital Goods index (down 0.19%), the BSE Healthcare index (down 0.29%), the BSE FMCG index (down 0.43%), the BSE Realty index (down 0.5%), the BSE Oil & Gas index (down 0.55%), the BSE Power index (down 0.58%) outperformed the Sensex.

The BSE Metal index (down 2.09%), the BSE Bankex (down 1.58%) underperformed the Sensex

India's largest private sector firm by market capitalisation Reliance Industries (RIL) fell 0.76% to Rs 1072.05 on profit taking. Nevertheless, the stock came off the day's low of Rs 1063 after the company said it has no plans to buy any debt of LyondellBasell. A newspaper had reported on Wednesday that RIL is likely to buy out some of the bankrupt petrochemical company's debt.

The RIL stock had risen 2.33% on Tuesday on reports the company is in talks with more than a dozen banks to ready a $8-10 billion war chest for the acquisition of LyondellBasell, the world's third-largest petrochemical company that has filed for bankruptcy in the US.

Earlier, the RIL stock had tumbled 3.07% on Monday, 7 December 2009, after bonus shares issued by the company were admitted to trading. The company has issued one fully paid bonus equity share for every one existing fully paid equity share of Rs 10 each.

Banking shares fell on profit taking. India's largest private sector bank by net profit ICICI Bank fell 1.92%. ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to loans sanctioned between December 2009 and January 2010. Its ADR rose 0.33% on Tuesday, 8 December 2009.

Kotak Mahindra Bank also announced its new home loan scheme. It has 8.49% fixed rate on home loans for 30 months from the date of the payout of the loan. The stock fell 1.91%.

India's second largest private sector bank by net profit HDFC Bank fell 1.37%. Its ADR fell 0.11% on Tuesday.

India's largest bank by net profit and branch network State Bank of India fell 0.56%. The UPA government last week cleared the introduction of State Bank of India (Amendment) Bill in the current session of Parliament. The Bill seeks to bring the government's holding in the country's largest public sector bank on a par with other public sector banks at 51 %. Currently, the Union government holds 59% stake in SBI. At present, the stake of the promoter, that is Government of India, cannot fall below 55 %.

India's largest mortgage lender by total income Housing Development Finance Corporation (HDFC) fell 2.3%, extending recent losses triggered by investor worry a dual interest rate scheme on home loans introduced by the company would hit margins.

HDFC, last week, announced a dual-rate loan scheme under which a borrower will be charged a fixed rate up to March 2012 and a floating rate thereafter. For a 20-year loan of Rs 30 lakh, a borrower will pay a fixed rate of 8.25% up to March 2012 and then a floating rate that's 500 basis points below the prime lending rate (PLR) - the institution's benchmark rate. Currently, the PLR is 13.75%.

Metal stocks fell after copper fell to its lowest in more than a week on Wednesday, 9 December 2009, as investors trimmed positions in riskier assets following weak economic data and growing sovereign debt troubles. Hindalco Industries fell 3.04%. The company hiked product prices by Rs 3000 a tonnes, with effective from 1 December 2009. Steel Authority of India, National Aluminum Company, Sterlite Industries and Hindustan Zinc fell by between 1.99% to 2.98%.

Tata Steel, the world's eighth-largest steelmaker by sales, fell 4.17%. The company said on Monday its sales rose 34.5% to 498,000 tonnes, in November 2009 over November 2008.

The company on 4 December 2009 announced a partial closure of Corus' Teesside Cast Product (TCP) plant in north England, after four companies stopped buying metal from it. Operations will be suspended at the end of January 2010 forcing the loss of 1,700 jobs around 600 fewer than envisaged earlier, Tata Steel said in a statement.

IT stocks rose on a weaker rupee. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports. India's third largest software services exporter Wipro rose 1.19% even as its ADR fell 0.39% On Tuesday. India's largest software services exporter Tata Consultancy Services (TCS) rose 1.2%.

India's second largest software services exporter Infosys Technologies rose 0.66%. Its ADR rose 0.21% on Tuesday. Infosys Technologies is reportedly partnering the Council of Scientific and Industrial Research for its open source drug discovery project that focuses on an efficient way to look for tuberculosis drugs.

The Indian rupee recovered against the dollar after tumbling to its lowest level in almost two weeks. Dollar's slide against the yen and the euro, aided recovery of the Indian unit against the greenback. The partially convertible rupee was at 46.54/55 per dollar, higher than Tuesday close of 46.68/69.

Auto stocks rose on the back of robust sales figures for November 2009. India's second largest bike maker by sales Bajaj Auto rose 1.84%. Bajaj Auto on Wednesday launched a 135 cc Pulsar, pushing the Pulsar brand into the mass segment. Bajaj expects a sell a minimum 30,000 units per month of the new Pulsar model. The automaker had recently refreshed the entire Pulsar lineup and expects total Pulsar sales to cross 80,000 units per month.

The company's total vehicle sales rose 73% to 2.76 lakh units in November 2009 over November 2008. Motorcycles sales jumped 84% to 2.42 lakh units.

India's largest small car maker by sales Maruti Suzuki India rose 2.54% after Japan's Suzuki Motor said on Wednesday it will sell a 19.9% stake to Volkswagen (VW) for $2.5 billion and use half the proceeds to buy shares in the German automaker, as the two firms form a formidable force in the auto industry. Japan's Suzuki has a 54.2% stake in Maruti Suzuki India

Suzuki's chief told the media on Wednesday that the company will cooperate with VW in India by sharing common components. VW's chief Winterkorn said the firm will pursue synergies in India between Suzuki, Volkswagen, Skoda brands.

Maruti's total vehicle sales spurted 66.60% to 87,807 units in November 2009 over November 2008. Domestic sales spurted 60.10% to 76,359 units, while exports surged 128.60% to 11,448 units in November 2009 over November 2008.

India's largest motorcycle maker by sales Hero Honda Motors rose 1.74%. The company's total vehicle sales jumped 32% to 3.81 lakh units in November 2009 over November 2008.

But, India's top tractor marker by sales Mahindra & Mahindra (M&M) fell 0.31%. Mahindra & Mahindra will reportedly launch its first truck under a joint venture (JV) with Navistar, North America's largest commercial truckmaker, next month. The company's domestic auto sales soared 105.1% to 21,387 units in November 2009 over November 2008. M&M sold a total of 22,587 vehicles (domestic plus exports) in November 2009 as against 11,515 vehicles sold in November 2008.

India's top truck maker by sales Tata Motors fell 0.56%. The company's total sales zoomed 65.49% to 54,108 units in November 2009 over November 2008.

Tata Motors' total passenger vehicle sales in the domestic market grew by 44.52% at 20,706 units last month, against 14,327 units in the same month last year. Exports jumped by 86.64% at 3,994 units, compared with 2,140 units in the same month last year, it added.

Car sales in India rose an annual 61% to 1,33,687 in November 2009 over November 2008, boosted by improved consumer sentiment, easier availability of loans and a low sales base a year earlier, an industry body said on Tuesday. Sales of trucks and buses, a gauge of economic activity, doubled to 40,847 units in November from 20,631 a year earlier, data from the Society of Indian Automobile Manufacturers showed.

Auto ancilliary stocks rose on surge in auto sales over the past few months. Banco Products, Gabriel India, Amtek Auto and Exide Industries rose by between 1.18% to 10%.

India's largest engineering and construction firm by sales Larsen & Toubro fell 0.13%. The company said on Tuesday that it got orders worth Rs 844 crore. Among other capital goods stocks, Siemens, ABB, BEML and Punj Lloyd fell by between 0.05% to 1.14%.

Realty shares fell on profit taking. Omaxe, Indiabulls Real Estate, Unitech fell by between 0.45% to 1.65%.

FMCG shares fell on profit taking. ITC, Tata Tea, Marico, United Spirits fell by between 0.43% to 1.91%.

Cement stocks rose on bargain hunting after recent losses. Recent reports suggested a second wave of cement price hike is on the cards. After prices were up by Rs 5-10 for a 50 kg bag in the last week of November in western and southern India, prices rose by Rs 8-11 a bag in the Mumbai region on 2 December 2009. The next set of price rises would happen in the north which is enjoying comparatively stable prices till now vis-a-vis the south and the west, reports suggest.

India's largest cement producer by capacity ACC rose 0.75%. The company's cement shipments fell 4.04% to 1.66 million tonnes in November 2009 from 1.73 tonnes in November 2008.

Aditya Birla Group's cement shipments rose 15.3% to 2.93 million tonnes in November 2009 over November 2008. Aditya Birla Group last month said it was combining its cement operations under group firm UltraTech Cement to make India's largest cement firm. UltraTech Cement rose 0.8%.

But, India's largest dam builder Jaiprakash Associates fell 1.02% The company posted 48.77% jump in its cement sales to 1.03 million tonnes in November 2008 over November 2008.

India's largest thermal power generator by sales NTPC fell 0.95% The government is planning a 5% stake sale in the firm by March 2010. Among other power stocks, CESC, Tata Power Company, Reliance Infrastructure, Torrent Power fell by between 0.53% to 1.34%.

Telecom stocks rose on reports successful bidders of third-generation (3G) spectrum in the upcoming auctions, scheduled to begin on 14 January 2010, may have to pay only 25% of the bid amount initially and can pay the remaining in the next financial year when they receive the airwaves. India's largest mobile services provider by sales Bharti Airtel rose 0.55%, extending recent gains. Bharti Airtel sees revenue pressured in the short term amid an intense price war in the country's wireless sector, director Akhil Gupta said on Monday.

India's second largest mobile services provider by sales Reliance Communications rose 1.08%. Reliance Communications under-reported its revenue to the telecoms regulator during 2006/07 and 2007/08, the communications minister A Raja said on Monday.

Mobile operators including Bharti Airtel, Vodafone Essar and Reliance Communications are locked in a tariff war, raising concerns about telecom firms' profitability. The price war is aimed at grabbing new users as new firms enter the market.

Cals Refineries clocked highest volume of 3.93 crore shares on BSE. Unitech (1.57 crore shares), Suzlon Energy (1.41 crore shares), IFCI (.15 crore shares) and Radhe Developers (0.82 crore shares) were the other volume toppers in that order.

Tata Steel clocked highest turnover of Rs 175.40 crore on BSE. Unitech (Rs 140.84 crore), DLF (Rs 127.55 crore), Suzlon Energy (Rs 119.43 crore) and Bharti Airtel (Rs 118.98 crore) were the other turnover toppers in that order.

Market may edge lower on weak global stocks; ICICI Bank eyed

The market may edge lower tracking weakness in Asian stocks triggered by disappointing economic data in Japan. US stocks declined on Tuesday, 8 December 2009.

The government does not need to borrow more than planned to fund its additional proposed expenditure, Finance Minister Pranab Mukherjee said on Tuesday. The government said on Tuesday it will seek parliamentary approval to spend an extra Rs 25725-crore ($5.5 billion) for the fiscal year to end-March 2010. The gross additional expenditure would be Rs 30943 crore, of which 5217 crore would be met through savings, the government said. The government will spend an extra Rs 3000 crore on fertiliser subsidies and Rs 3460 crore on food subsidies. The government would also spend Rs 800 crore on an equity infusion in state-run carrier Air India.

Capital inflows into India reflect investor confidence in the economy, the Reserve Bank of India (RBI) governor D Subbarao said on Monday 7 December 2009 at a televised panel discussion, although measures to control them could not be ruled out in case there was a surge in foreign funds that needed to be contained. "Going ahead should there be a surge of capital flows, I think we cannot rule out active capital management," Subbarao said. The RBI governor said he is not willing to debate at this time on the instruments or timing, as this will depend on how the situation evolves.

"In the medium term, task is to improve absorptive capacity of the economy. But going forward calibrating reserves roughly corresponding to current account deficit is the task," Subbarao said. C. Rangarajan, chairman of the Prime Minister's Economic Advisory Council, said in the discussion that inflows in the current year would be manageable. Rangarajan had said late last month that India could absorb as much as $100 billion of capital flows in 2009/10, well above a projected $57-$60 billion.

The Reserve Bank of India (RBI) may reportedly ask banks to impose a ceiling on their investments in mutual funds and also prescribe norms for such investments, as it attempts to tighten rising exposure and rein in deployment of banking funds indirectly in sectors or companies to which banks could not lend directly due to exposure limits.

Meanwhile, Mumbai based realty firm Godrej Properties' initial public offering (IPO) of 9,429,750 equity shares of Rs 10 each opens for bidding today. The price band is at Rs 490-530 per share. The issue will close on 11 December 2009.

The initial public offer (IPO) of JSW Energy, a part of Sajjan Jindal-led JSW Group, was subscribed 1.48 times on the second day of issue on Tuesday. The price band for the IPO is Rs 100 to Rs 115. The issue closes today, 9 December 2009.

Shares of ICICI Bank and Kotak Mahindra Bank will be in action on reports the two banks have entered the interest rate war in the home-loan market with their fixed-cum-floating rate schemes. ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to loans sanctioned between December 2009 and January 2010. Kotak Mahindra Bank also announced its new home loan scheme. It has 8.49% fixed rate on home loans for 30 months from the date of the payout of the loan.

Asian stocks fell on Wednesday, led by finance and mining companies, after Japan's economy grew more slowly than estimated, denting confidence in the global economic recovery.The key benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Indonesia fell by between 0.02% to 1.37%. But Taiwan's Taiwan Weighted rose 0.89%.

Japan's Gross domestic product rose at an annual 1.3% pace in September quarter, slower than the 4.8% reported in preliminary figures last month, the Cabinet Office said today in Tokyo.

China is experiencing a clear V-shaped economic recovery, Zhu Min, vice-governor of the People's Bank of China, was cited as saying on Tuesday.

US stocks fell on Tuesday as 3M Co's disappointing outlook and a weak sales report from McDonald's Corp compounded investors' concerns about the outlook for a global recovery. The Dow Jones industrial average was down 104.14 points, or 1%, at 10,285.97. The Standard & Poor's 500 Index was down 11.31 points, or 1.03 % at 1,091.94. The Nasdaq Composite Index was down 16.62 points, or 0.76% at 2,172.99.

Back home, the key benchmark indices surged on Tuesday after the government on Tuesday, 8 December 2009, said it will seek parliamentary approval to spend an extra Rs 25725 crore for the fiscal year to end-March 2010. The Sensex attained its highest closing level in 1-1/2 month. The 50-unit S&P CNX Nifty attained its highest closing level in more than 18 months. The BSE Sensex rose 244.54 points or 1.44% to 17,227.68 on that day.

As per provisional figures on NSE, foreign funds bought shares worth Rs 843.18 crore and domestic funds sold shares worth Rs 503.98 crore on Tuesday.

Sensex to open lower

Headlines for the day

Mahindra Satyam to induct 200 every month from virtual pool - DNA Money

Mahindra & Mahindra to consolidate auto components business - DNA Money

L&T bags Rs844 crore Nuclear Power Corporation order - Business Line

Alok to wind up realty foray - Business Standard

RIL may buy part of LB group's debt - Business Standard

Events for the day

Major corporate action:

Sun-division of equity shares of Munoth Capital Market Ltd from Rs10/- per share to Rs5/- per share.

Godrej Property IPO that opens today and will close on December 11, 2009 comes with a price band of Rs490 to Rs530 per share.

Pre-market report

Global signals

The European stocks opened lower on Tuesday and remain lower side through out the day. At the end, FTSE 100 closed 1.65% lower at 5223.

The US markets closes in red after disappointing corporate news from 3M Co and McDonalds. Nasdaq 100 up 17 points to closed at 2173.

In today's trade, all the Asian indices opened lower and strengthen the losses in the early trading hours. At the time of writing this report, SGX Nifty that opened lower by 86 points, recovered some losses and trading lower by 49 points.

Indian markets

The domestic indices are expected to open lower and may remain lower owing to the weak global cues.

Among the local indices, the Nifty could test the 5150-5182 range on the up side, while on the down side it could find support at 5050 and 5100. While the Sensex is likely to get support at 17100 and may face resistance at 17300.

Indian ADR's

Among the Indian ADRs trading on the US bourses, all the ADR closed in red except Infosys, ICICI Bank & Rediff.

Commodity cues

In the commodity space, wherein the Crude oil prices reported marginal decline, with the Nymex light crude oil for January series decline by $0.93 to settle at $72.62 a barrel.

In the metals space, Comex Gold for February series sheds $20.60 to settle at $1169.50 to a troy ounce.

Daily trend of FII/MF investment in equities

On December 08, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs17.90 crore (with the gross purchase of Rs1936.90 crore and gross sales of Rs1919.00 crore).

While the Domestic mutual funds, on December 07, 2009, were the net seller of the stocks in the tune of Rs258.00 crore (with gross purchase of Rs545.70 crore and gross sales of Rs903.70 crore.

SGX Nifty Live Update - Dec 9 2009

5,105.00 -54.50

Daily News Roundup - Dec 9 2009

Reliance Industries is expected to buy out a fifth of LyondellBasell’s US$27bn gross debt and seek a rollover of the balance after acquisition, as a step towards gaining confidence of creditors in its plans to acquire the world’s third largest petrochemical company. (BS)

ONGC Videsh has pulled out from the exploration block 5B in Sudan and has written off its investment of US$90mn made in the block. (ET)

L&T secured a contract valued at Rs8.4bn from NPCIL for construction of the main plant civil works of reactor 3 and 4 at Kakrapar Atomic Power Project near Surat. (BS)

L&T has accepted all demands in its implementation agreement with the Uttarakhand government on the 99MW Singoli-Bhatwari hydel project in the hilly Rudraprayag district. (BS)

GSM operators such as Bharti Airtel, Vodafone Essar, Idea Cellular among others are set to be charged a one-time fee for all 2G radio frequencies they hold over the 6.2 MHz mark. (ET)

Symantec Corporation and Wipro inked a new partnership under which Wipro Infotech will offer data loss prevention & back-up and recovery infrastructure consultancy services based on Symantech Technology. (FE)

JSW Group is planning to set up minor ports in states where it has a major presence through its steel and power plants. (FE)

ICICI bank and Kotak Mahindra Bank have launched home loan schemes which combine fixed and floating interest rates. (FE)

Comviva (formerly Bharti Telesoft) is in talks with several telecom service providers, including group company Bharti Airtel, to launch a SIM card that allows up to 10 users to share the same mobile phone with their own specific numbers. (BS)

Tata Tea, which acquired several global beverage brands in the last three years, will focus on bringing them together and making it a seamless international brand. (BL)

Mahindra Aerospace, the aerospace arm of Mahindra & Mahindra, is readying the prototype of a small private aircraft built in collaboration with state-owned National Aerospace Laboratories. (BS)

RBI has found and taken action against 17 cases of irregularities by companies that raised FCCBs since April 2005 – including US$25mn raised by Country Club, US$100mn by Hotel Leela Venture, US$105mn by Educomp Solutions, US$180mn by 3i Infotech and Rs51.4bn by Reliance Communications. (BS)

Ranbaxy said it will sell its 50% stake in its Japanese joint venture Nihon Pharmaceutical Industry (NPI) to partner Nippon Chemiphar. (ET)

Nestle India announced that its board has approved the proposal to acquire Speciality Foods' healthcare nutrition business. (BL)

HCL Technologies bagged a multi-million pound, five-year infrastructure management and transformation order from News International - a UK subsidiary of News Corporation. (BL)

Videocon Group promoted Next Retail is open to offloading a minority stake ranging from 15-20% to private equity players to garner funds for expansion. (BL)

Essar Group has entered into the Rs800bn consumer durables and IT products business through the acquisition of X-Cite. (ET)

Standard Chartered Bank has extended a US$1bn line of credit to Essar Oil to part finance its acquisitions of Royal Dutch Shell’s refinery assets in Europe. (ET)

Textile major Alok Industries has decided to withdraw from the realty segment by 2012. (BS)

Autoline Industries has drawn up Rs2.5bn brownfield expansion plan which will be funded through internal accruals and term loans. (BL)

Mahindra Systech, the auto components arm of the Mahindra group, plans to consolidate its business by merging Mahindra Ugine Steel, Mahindra Composites, Mahindra Forgings as well as unlisted entities such as Mahindra Gears, Mahindra Castings and Engines Engineering. (BL)

Gujarat NRE Minerals Ltd, the Australian subsidiary of Gujarat NRE Coke, is raising AUS$50mn through placement of shares to several unidentified international institutional investors. (BL)

Godrej Properties' IPO was subscribed by anchor investors JF India Fund, JF Eastern Smaller Companies Fund, Ward Ferry Management Ltd and The Royal Bank of Scotland for Rs 899mn at Rs530/share. (BL)

NDTV sold most of its indirect stake in NDTV imagine to Time Warner in a deal worth US$117mn .(ET)

Sakthi Sugars has allotted 1.8mn equity shares to three institutional investors by conversion of FCCBs worth US$8.1mn held by them. (ET)

DB Corp will launch its initial public offering to raise about US$83mn on Friday. (ET)

JSW Energy's Rs27bn public offer got over-subscribed 1.48 times on Tuesday. (FE)


Ministry of New and Renewable Energy minister said that about 1,300MW of solar power would be added over the next three years. (BS)

West Bengal became the forerunner in mega-watt level solar power generation with the commissioning a 2MW grid-connected solar photovoltaic plant at Jamuria, near Asansol. (BS)

The Department of Telecommunications says it is being forced to curtail its 3G auction plans from four slots to three. (BS)

The government sought Parliament’s approval for additional spending of Rs257bn on fertiliser subsidies, food and for equity infusion in Air India, among other heads in the current financial year. (BS)

The EGoM on the Dhabol power project reviewed the non-payment of Rs4.7bn by state insurance companies to Ratnagiri Gas and Power Pvt Ltd, increasing gas supply and timely commissioning of Phase III. (BS)

The Ministry of Finance is in favour of scrapping the practice of issuing oil bonds to government-owned oil marketing companies and not only wants the Ministry of Petroleum and Natural Gas to rework the underrecovery figure for the current year but has also decided to look at the issue of oil subsidies only in February 2010. (BS)

The Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14 who had sought information through two questionnaires on August 12 and September 12. (BS)

The Tamil Nadu government on Tuesday said it was expecting five merchant power plants to come up in the state with a total installed capacity of 10,000 Mw by 2012. (BS)

The government expects credit offtake to pick up in the coming months on the back of policy steps taken by the RBI to boost credit growth. (BS)

The Andhra Pradesh government has drawn up an ambitious plan to develop 13 minor ports over the next decade and targets 200mn tons by 2019-20. (BL)

The Market Stabilisation Scheme is likely to comeback as the RBI moves to remove excess liquidity from the banking system. (BL)

Successful bidders of 3G spectrum in the upcoming auctions may have to pay only 25% of the bid amount initially and can pay the remaining in the next financial year when they receive airwaves. (ET)

RBI is likely to ask banks to impose a ceiling on their investments in mutual funds and also prescribe norms for such investments. (ET)

States are expected to raise a record Rs700bn leading up to the end of the fiscal. (ET)

The Centre refuted reports that there is 30-40% siphoning off of allotted funds under the NREGS. (ET)

India faces a shortage of 70MT of coal this fiscal and the demand supply gap in 2011-12 may reach about 51MT. (ET)

The government targets to allot 17 port development projects to private players under its ambitious National Maritime Development Programme. (FE)

Pressure around the world!

Act quickly, think slowly.

When the world was down, India was shining, especially late in the afternoon. The rise coincided with the Finance Minister’s announcement that the government plans an additional Rs257bn in public expenditure during the current fiscal year.

The gains are less likely to be maintained given the weakness all around the world. However, bulls will strive for a recovery later in the day. In the US, the Dow shed over 100 points following a strengthening dollar, weakening oil and gold prices and some below expectation corporate numbers. Asian markets are weak after Japan’s economy expanded less than expected. Japan has also cleared an additional US$81bn stimulus.

UK and Germany manufacturing is still weak. Ratings agencies have warned about debt problems. First it was Dubai and now Fitch has lowered Greece's credit rating. People may not know where to find Greece on the map but some impact will be felt in markets.

Flows into emerging markets equity and the riskier bond fund groups lost momentum in early December, as investors digested the implications of the moratorium being sought by Dubai World on its US$60bn debt pile. The uncertainty - and the accompanying market volatility - heightened the already keen investor appetite for exposure to commodities and to the more conservative bond fund groups.

Risk appetite weakened amid ongoing concerns about the US economy's recovery prospects. A toxic cocktail of negative economic and debt news caused a slump in US and European stocks. Sales declines at McDonald's added to investor jitters about the pace of economic recovery, sending US stocks down sharply in early trading.

European equities fell after Fitch slashed Greece's A-grade credit rating, the first time in 10 years that one of the leading agencies has lowered the country below the A category. Fitch cut Greece to BBB-plus with a negative outlook, because of the poor state of the country's public finances, after rival S&P threatened Athens with a downgrade.

The US dollar gained against major currencies, as worries about high levels of debt in Greece and Dubai lead investors to buy assets that would offer protection in a crisis. Oil futures fall for a fifth straight session, extending their losing streak to the longest in five months.

On Wall Street, the Dow Jones Industrial Average tumbled 104 points, or 1%. The S&P 500 index lost 11 points, or 1%. The Nasdaq Composite shed 17 points, or 0.8%.

Stocks slipped at the open as investors took a cue from falling global markets and a rising dollar. Reports in the UK and Germany showed manufacturing is still weak, Japan approved $81bn in fresh stimulus money, and ratings agencies warned about debt problems in Dubai and Greece.

The rising dollar also played a role in the stock weakness. The weak dollar has added to stock gains over the last nine months, but for the last two weeks, the greenback has started to make a comeback versus the euro. The dollar has remained weak against the yen.

Since hitting a more than 12-year low on March 9 at the height of the financial market panic, US stocks have been on the rise, gaining 60% through Monday's close.

US stocks had ended mixed on Monday as comments from Federal Reserve Chairman Ben S. Bernanke cooled worries about higher interest rates but failed to overshadow the stronger dollar and weaker commodities.

Dow component 3M issued a 2010 profit forecast in a range that meets or beats analysts' expectations. The diversified conglomerate also reiterated that 2009 earnings would fall in a range of $4.50 to $4.55 per share versus analysts' forecasts of $4.57. Shares fell 1%.

Fellow Dow component McDonald's said sales at U.S. stores open a year or more, a retail metric known as same-store sales, fell 0.6% in November, the second monthly decline in a row. Shares fell 2.1%.

Kroger said it swung to a fiscal third-quarter loss from a profit a year ago. The grocery store chain also cut its full-year forecast and cut its target for same-store sales growth. Shares fell 12%.

Procter & Gamble Chairman A.G. Lafley is retiring in January, the company said Tuesday. His position will be filled by Bob McDonald, the company's CEO. McDonald replaced Lafley as CEO in July.

General Motors may pay back all $6.7 billion in loans it owes the government in one lump sum, rather than on a quarterly basis as is currently expected, new chief executive Ed Whitacre said.

FedEx shares rallied after it said fiscal second-quarter earnings will top forecasts, thanks to strength in international demand.

President Obama outlined a new multi-billion dollar jobs plan and stimulus proposal, in a speech at the Brookings Institution in Washington. He said he wants to expand tax breaks for small businesses, invest in infrastructure profits and give consumers rebates for making their homes more energy efficient. Funds would come from the $200 billion in unallocated bailout money - some of which would also be used to pay down the deficit.

The dollar fell versus the euro late in the day, erasing gains. The dollar gained against the yen.

COMEX gold for February delivery fell $20.60 to settle at $1,143.40 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last week.

US light crude oil for January delivery fell $1.31 to settle at $72.62 a barrel on the New York Mercantile Exchange.

Treasury prices rose, lowering the yield on the 10-year note to 3.38% from 3.43% late on Monday.

In European trading overnight, banks dropped following credit-rating downgrades for Dubai and Greece. Manufacturing data from Germany and the UK painted a grim picture. The pan-European Dow Jones Stoxx 600 Index ended the day down 1.6% at 244.01. Banks ended sharply lower following reports that Dubai World-owned property developer Nakheel posted a $3.65 billion first-half loss.

British banks, which are thought to be some of the most exposed to Dubai debt woes, fell. The state of Dubai owns Dubai World and on Tuesday Moody's Investors Service downgraded all six Dubai government-related issuers.

Greek banks were slammed following the ratings downgrade by Fitch.

The UK's FTSE 100 Index fell 1.7% to 5,223.13, while Germany's DAX Index lost 1.7% to 5,688.58 and the French CAC-40 Index shed 1.4% to 3,785.30.

What a turnaround! An absolute twisting trading session ended with smart gains defying weak global cues. After staying in a narrow range for most part of the first half, markets gained momentum led by a sudden bout of buying and some short squeezing.

The Real estate, Consumer Durables, Metals and the telecom stocks were among the major gainers. Even the Mid-Cap and the Small-Cap stocks participated in the rally.

The BSE Sensex advanced 244 points to end at 17,227 after touching a high of 17,238 and a low of 16,964. The index opened at 17,984 against the previous close of 17,983. The NSE Nifty was up 81 points to shut shop at 5,148.

In Asia, the Nikkei in Japan was marginally down 0.3%, while Australia's S&P/ASX ended lower by 0.2%. Shanghai SE Composite in China slipped 1% and Hang Seng index in Hong Kong was down 1.2%.

In Europe, stocks were flat with positive bias. The FTSE in the UK was up 0.2%, The DAX in Germany was up 0.3% and the CAC 40 index in France was flat.

Coming back to India, all the BSE sectoral indices ended in the positive terrain, the Realty index was the top gainer, surging 3.5%, followed by the Metals index that was up 2.3% and the BSE Consumer Durables index was up 2.1%. The BSE Mid-Cap index gained 1.2% and the BSE Small-Cap index was up 1.3%.

Among the 30-components of Sensex, 27 stocks ended in the positive and only SBI, Maruti and Hero Honda ended in the negative terrain. Among the major gainers were Bharti, DLF, Tata Motors, Hindaclo and Reliance Industries.

Outside the frontline indices, the big gainers in the broader market were Jai Corp, IFCI, Indian Hotels, IDBI Bank and Balrampur Chini. On the other hand, losers included PFC, Cadila, Godrej Industries, GSPL and Piramal Health.

Shares of Reliance Industries gained by 2.3% to end at Rs1080 after reports stated that the company is holding discussions with several banks in a bid to establish US$8-US$10bn in financing to acquire LyondellBasell Industries AF, which has filed for bankruptcy.

Technically, the stock yet again bounced back from its 50 Day moving average for the second straight trading session. The scrip opened at Rs1054 it touched an intra-day high of Rs1084 and a low of Rs1050 and recorded volumes of over 0.92mn shares on BSE.

Shares of 3i Infotech gained by 4.5% to Rs88.9 after reports stated that ICICI Bank is in discussions to sell its entire 27% holding in the company. ICICI Bank has already appointed PricewaterhouseCoopers to advise on the sale, added reports.

However, the company clarified post market hours stating that it is not aware of any move by ICICI Group to sell their stake in the company and 3i Infotech would not like to comment on the News Reports or market rumors.

NDTV announced that it entered into a conditional agreement with Turner Asia Pacific Ventures, Inc. for the sale of most of its indirect stake in NDTV Imagine Ltd, which is held through its subsidiary NDTV Networks plc.

The total transaction size is US$117mn and involves a sale of 76% of NDTV Imagine for a consideration of US$67mn together with the subscription to fresh shares in Imagine by TAPV for US$50mn.

Prior to the issuance of primary shares to TAPV, NDTV Networks plc will retain a stake of 5% in Imagine. The transaction is subject to receipt of an approval from the board of Time Warner Inc (the parent of TAPV), and from regulatory authorities.

Shares of NDTV gained 3.5% to Rs165. The scrip opened at Rs160 it touched an intra-day high of Rs172 and a low of Rs159 and recorded volumes of 1mn over shares on BSE.

Shares of M&M edged higher by 0.7% to end at Rs1034 after the company announced that it plans to consolidate its auto parts businesses into a single company over the next two years to cut costs, Hemant Luthra, head of the division, said. Mahindra may own as much as 60% of the consolidated unit, he said.

The company also plans to enter aviation component business as well and is already in talks with Airbus, Boeing to supply parts. The company further plans to spend US$10mn to produce Aircraft parts.

Shares of Gammon India surged over 3.5% top end at Rs245 after the company announced that it’s subsidiary, Franco Tosi Meccanica S.P.A. Italy, procured an order from an IPP for supply of Hydro Turbines, aggregating to Rs5.1bn.

Gammon Infrastructure advanced by 6.5% to Rs20.30 after the Company signed an agreement with Dragados Servicios Portuarios y Logisticos S.L. (Dragados) of Spain to purchase its equity shares in Indira Container Terminal Pvt. Ltd. (ICTPL).

The agreement envisages buying of 24% equity stake in ICTPL now and a further 26% equity stake after three years post the commencement of commercial operations of the Offshore Container Terminal Project being implemented by ICTPL.