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Tuesday, August 31, 2010
Sensex pares losses at close; RCom, JP Asso drag
Indian equities dropped on Tuesday erasing earlier gains. The Sensex ended with mere loss of 61 points at 17,971.12 due to weakness persisted in global markets. On sectoral front, consumer durable, oil & gas, realty and metal stocks also dragged the indices lower. Both Sensex and Nifty traded below 1-month low.
Daily Market Review - Aug 31 2010
Thanks to a sharp rebound in last half an hour, benchmark indices recovered nearly a percent from the lowest point of the day to end with modest losses. Sensex closed at 17944, down 88 points while Nifty finished at 5402, down 13 points. BSE Mid-cap and Small-cap indices lost 0.6% and 0.9% respectively. GDP for the April-June quarter showed a growth of 8.8% as against 8.6% in the previous quarter. European markets were trading down about a percent while US stock indices futures were lower by nearly a third of a percent ahead of data on Chicago Purchasing Managers Index and Consumer confidence.
Robust GDP data fails to lift Sensex
Major headlines
Q1FY11 gross domestic product comes in at 8.8%
Honda may sell its entire stake in Hero Honda Motors; the stock closes 0.01% lower
Tata Communications, Axiata Group sign IP transit deal; the stock ends 0.14% higher
Nifty September 2010 futures below 5,400
Turnover surges
Nifty September 2010 futures were at 5,399, at a discount of 3.40 points compared to spot closing of 5,402.40. Turnover in NSE's futures & options (F&O) segment surged to Rs 106140.93 crore from Rs 87367.15 crore on Monday, 30 August 2010.
Asian stocks succumb to substantial sell off
Markets slump as investors continue to be worried about global recovery
Asian stocks succumbed to substantial sell off today as the weak overnight cues from the US markets and continued worries about the global economic recovery hurt the sentiments. The US Personal spending went up slightly than expected in the month of July, according to the latest updates from the Commerce Department yesterday. The personal spending increased by 0.4% in July after coming in unchanged in June. However, the personal income rose by just 0.2% in July after coming in unchanged in the previous month. US stayed mostly firm in the Asian trading; keeping a tab on the overall movements while weakness in commodities hurt the resource stocks.
Market gives thumbs down to RIL's acquisition of EIH stake
The key benchmark indices recovered in the last one hour of trade as robust first quarter June 2010 GDP data triggered bargain hunting after a steep intraday slide in share prices. A government report at 11:00 IST showed the Indian economy expanded at the fastest pace in 2-1/2 years in Q1 June 2010. The market had tumbled in early trade owing to weakness in Asian and European markets.
BSE Bulk Deals to Watch - Aug 31 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
31/8/2010 530901 ACIL Cot Inds JAYSHREE SHANKAR BHOSLE B 62168 35.37
31/8/2010 531678 Anand Credit TUSHAR CHANDRAKANTBHAI JOSHI B 100000 52.88
31/8/2010 531678 Anand Credit VIPUL VIRENDRAKUMAR PATEL B 99170 53.52
NSE Bulk Deals to Watch - Aug 31 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
31-AUG-2010,AQUA,Aqua Logistics Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,156315,632.18,-
31-AUG-2010,AXIS-IT&T,Axis-IT&T Limited,BP FINTRADE PRIVATE LIMITED,BUY,107926,84.16,-
Weak Asian stocks to weigh on sentiment
The market may edge lower, tracking weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 36 points at the opening bell. On the macro front, the government will today, 31 August 2010, unveil Q1 June 2010 GDP data. The economy expanded an annual 8.6% in Q4 March 2010.
Markets may witness a weak start
Headlines for the day:
Tax code only from 2012
NTPC moves to secure fuel supply for power plants
Infosys plans extreme offshore model to tide over visa crisis
Time to ponder!
"It is better to read a little and ponder a lot than to read a lot and ponder a little" – DP Burkitt.
There is a lot to ponder on the market. The surprising RIL-EIH deal, DTC Bill and Q1 GDP data are among the top stories. And then you have a renewed fall on Wall Street. Asian markets are weak, led by Japan and Taiwan. But China, Singapore and Hong Kong markets have not fallen as much. That augers well for India, and we could see some bounce after a lower opening.
Daily News Roundup - Aug 31 2010
Reliance Industries has acquired 14.12% stake in EIH for Rs10.2bn. (ET)
NTPC has signed a MoU with Bangladesh Power Development Board for setting up two 1,320 MW each power projects at Chittagong and Khulna in Bangladesh. (ET)
Jubilant Organosys has signed a long-term contract worth US$33mn with a US life sciences company for its custom research and manufacturing services (CRAMS) business. (ET)
Reliance Communications has set up an integrated third generation innovation laboratory to develop applications for mobile services consumers. (ET)
Pharmac, a New Zealand Government drug funder, will fully fund a brand of Quetiapine drug made by Dr Reddy's Laboratories. (ET)
Videocon is in talks with foreign entities for a 26% stake-sale in its telecom subsidiary--Videocon Telecommunications. (ET)
Union Bank of India and PNB have increased their term deposit rates by up to 1% across various maturities. (ET)
Infosys is mulling an ‘extreme offshoring’ model to help reduce its dependence on H1 and L1 visas. (BS)
NTPC may offer upto 49% equity stake to Qatar Petroleum in its gas-based project at Kerala. (ET)
M&M terminates contract with US distributor for pick-ups, three days after M&M received certification from the US Environmental Protection Agency (EPA) allowing it to sell pick-up trucks in that country. (BS)
M&M plans to separate the agri business of its subsidiary Mahindra Shubhlabh Services and merge it into itself. (ET)
GMR Infrastructure plans to unlock the value of its airport land holdings by monetising them. (ET)
ONGC said that Cairn Energy Plc required its consent besides government approvals to "consummate" the proposed sale of Cairn Energy’s stake in Cairn India to Vedanta Resources. (BS)
Gitanjali Gems plans to acquire a leading Italian jewellery house by the end of next month. (BS)
NTPC is considering a ‘strategic’ tie-up with Qatar Petroleum and picking up stakes in two coal mines in Indonesia to secure fuel supply for its power plants. (BS)
Glenmark Pharmaceuticals plans to file an application to undertake Phase I trials on its prospective pain molecule GRC 17536, in January 2011. (BL)
NALCO has started the process to extend its metals business, by looking for prime buyout targets in copper, uranium and coal in Africa and Afghanistan. (ET)
NMDC and Coal India are forming a joint venture with West Bengal Mineral Development and Trading Company to acquire one of the largest coal blocks in the country having reserves of around 19bn tons. (ET)
Videocon is negotiating with foreign companies for sale of a 26% stake in its subsidiary, Videocon Telecommunications. (BS)
Dr Reddy's Laboratories Ltd has received permission to sell Quetiapine in New Zealand from Pharmac, the drug-funding agency of New Zealand Government. (BL)
Gujarat State Petroleum Corporation Limited (GSPCL) has imported its fourth LNG cargo under the short term supply contract with Spanish company Gas Natural. (BS)
With Cairn Energy Plc voluntarily offering to meet government conditions, the Oil Ministry may find it difficult to nix its deal to sell majority stake in Cairn India to Vedanta Resources. (ET)
HUL is repositioning its staples brand Annapurna on the health platform by taking the fortification route. (BS)
The Power ministry has favoured allocation of the bulk of new natural gas output from fields like those of Reliance Industries to Reliance Power's Samalkot expansion unit in Andhra Pradesh. (ET)
The government plans to roll out the new Direct Tax Code (DTC) from April 1, 2012. (ET)
The Direct Taxes Code Bill has proposed to retain the current tax system of exemptions for SEZ notified till 2012 but imposed a 20% minimum alternate tax. (ET)
The proposed increase in exemption limits in the Direct Taxes Code (DTC) Bill will benefit an overwhelming 96% of taxpayers, who earn less than Rs0.5mn p.a. (ET)
The telecom department has turned down the armed forces demand for a permanent waiver of spectrum charges on all airwaves used by the three services, Army, Air Force and the Navy. (ET)
India will soon implement the free trade agreement (FTA) in goods with two more Asean countries -- Indonesia, Cambodia. (ET)
Sensex ekes out slim gains...Metals shine, IT lags
The Indian market ended marginally higher on Monday after a strong start, with the main indices erasing most of the early gains amid lingering concerns about the state of the global economic recovery. The broader market also closed flat.
Gujarat Pipavav Port prices IPO at Rs 46 a piece
The IPO price band was Rs 42-48 per share
Gujarat Pipavav Port (GPPL) has priced its initial public offer (IPO) at Rs 46 per share. The price band for the IPO was Rs 42-48 per share. The IPO was subscribed almost 20 times. The issue closed on 26 August 2010. The IPO got bids for 220.21 crore shares, compared with 11.04 crore shares on offer.
Monday, August 30, 2010
BSE Bulk Deals to Watch - Aug 30 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/8/2010 530901 ACIL Cot Inds JAYSHREE SHANKAR BHOSLE B 66605 36.31
30/8/2010 531761 Amulya Leas SALASAR TECHNO ENGINEERING PRIVATE LIMITED B 70000 38.00
NSE Bulk Deals to Watch - Aug 30 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-AUG-2010,AQUA,Aqua Logistics Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,145527,617.51,-
30-AUG-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,CNB FINWIZ PRIVATE LIMITED,BUY,64980,247.46,-
Sensex shuts with modest gains
Major headlines
Pantaloon Retails’ Q4FY10 net profit up 168% yoy; the stock closes 1% lower
Mundra Port and Special Economic Zone commences operations at Dahej; the stock closes 0.56% down
Glenmark Pharmaceuticals discovers new molecule for pain; the stock ends lower by 1.36%
Market ekes out small gains after high intraday volatility
The key benchmark indices registered small gains in what was a choppy trading session. Volatility rose during the last one hour of trade after reports filtered in that the government has tabled the much-awaited Direct Taxes Code bill (DTC) in the Lok Sabha, which proposes to raise the exemption limit on income tax from the current Rs 1.6 lakh to Rs 2 lakh. IT, realty and FMCG stocks fell. But, metal stocks rose. Capital goods reversed initial gains. Index heavyweight Reliance Industries (RIL), too, turned negative from positive. The BSE 30-share Sensex rose 33.70 points or 0.19%, off about 185 points from the day's high and up close to 70 points from the day's low.
Market may edge higher on firm Asian stocks
The market may edge higher, recovering from Friday's (27 August 2010) broad-based decline, tracking gains in Asian stocks, which rose on rally in US stocks on Friday. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could rise 57.50 points at the opening bell.
An inspiring start!
To succeed you need to find something to hold on to, something to motivate you, something to inspire you - Tony Dorsett.
A slightly better than expected US GDP data and some inspiring talk by Federal Reserve chairman Ben S. Bernanke lifted the sagging spirits on Wall Street and elsewhere. Not surprisingly, Asian markets are all up smartly. News that Bank of Japan is holding an emergency meeting to check unbridled gains in the yen has also buoyed sentiment.
Volatile crude ends higher
Weekly gains come after two weeks of consecutive losses
Crude prices registered gains on Friday, 27 August 2010. Prices swerved in and out positive territory for much of the session, but gains prevailed as the U.S. stock market rose and the dollar came off its highs for the day.
Stocks to open higher on strong global cues
Headlines for the day:
Sesa Goa plans Rs9,000 crore steel foray
Government may cut size of SBI's rights issue
Foreign trade policy review responds to exporters' demand
Daily News Roundup - Aug 30 2010
Tata Motors has entered into an understanding with IndusInd Bank for financing its range of passenger vehicles. (BL)
GMR Infrastructure said it has withdrawn a proposal to raise Rs50bn by issue of securities. (BL)
Sensex, Nifty down 2% on global woes
The F&O week saw some range-bound choppiness. Fears of a slower global recovery got re-ignited this week. Existing home sales in the US fell to their lowest level in 15 years, sending US markets lower, dragging the global markets lower. Despite strong roll-overs to the September series, Nifty failed to sustain at support of 5,450 levels. Finally, both the Nifty and Sensex fell by 2.2%.
Sunday, August 29, 2010
Apple may unveil new iPod at Sept. 1 event: report
Apple is holding an event next week where the company is widely expected to launch the updated version of its iPod digital music players besides a revamped version of Apple TV and changes to iTunes services. Apple has sent an invitation to select members of the media, according to reports. The special event will take place in San Francisco on September 1. The company has refused to share more details about the products that it plans to unveil at the event. Apple could announce the first iPod touch with a camera, an updated Apple TV with an App Store, and iTunes changes, like a cloud-based iTunes service, according to one analyst. The iPod is now Apple's smallest product line in terms of revenue, behind the iPhone, Mac and iPad. Apple sold about 9.4 million iPod units during its June quarter - down 8% from the same period last year.
Toyota recalls another 1.3mn cars in US, Canada
Toyota Motor Corp. added another 1.3mn cars to its growing recall list in North America, asking owners to bring in their Corolla and Matrix sedans to fix a problem with the engines. The recall covers 2005 to 2008 models, which could develop a crack that may cause harsh shifting or stop the engine from starting altogether. According to Toyota three unconfirmed accidents have been reported, including a minor injury. The recall covers 1.13 million vehicles in the United States and 200,300 in Canada, Toyota said. Toyota Canada said it had no reports of accidents or injuries. The recall of the Corolla and Matrix cars adds to the 11 million vehicles Toyota has recalled in the past year. Separately, General Motors (GM) said that some 200,000 Pontiac Vibes, a sister car to the Toyota Matrix, would be recalled in the United States and Canada because of the same issue.
Oil PSUs won't make counter bid for Cairn India: reports
Shares of Cairn India slipped after news reports suggested that public sector oil companies will not make a counter bid for the Indian arm of UK-based Cairn Energy Plc. Speculation has been rife that state-run oil companies, led by ONGC and Oil India could announce a counter offer for Cairn India. Vedanta Resources Plc last week announced plans to acquire up to 60% stake in Cairn India for up to US$9.6bn.
Govt extends export sops as global recovery slows
Commerce Minister Anand Sharma decided to extend sops for the labour intensive export sectors, citing a fragile recovery in the global economy, but sounded confident of achieving the annual export target. India’s plan to offer incentives to exporters will cost the Government Rs10.5bn, Sharma said while presenting the annual supplement to the Trade Policy at a press conference in New Delhi. The Commerce Minister said that the Government intends to extend the DEPB scheme for exporters for six months (or till June 30, 2011) and the zero duty EPCG scheme by a year or till March 31, 2011. He also announced the extension of SHI (Status Holders Incentive) scheme for one more year till March 31, 2011.
Why Indians still like their landline phone?
The world’s fastest countries like India and China have actively embraced mobile technology to drive for personal banking and retail transactions. This was one of the key findings of the Consumers and Convergence Report IV conducted by KPMG among 5,627 consumers in 22 nations this year.
India inflation declines
Food inflation in India declined further in the middle of this month even as prices of fuels remained steady, data released by the Government showed. Inflation in the Food Articles group stood at 10.05% in the week ended August 14 versus 10.35% in the previous week, the Commerce & Industry Ministry said. It was at 13.45% in the comparable week last year. The index for Food Articles group declined by 0.2% to 297.9 in the week ended August 14. Inflation in the Primary Articles group stood at 14.75% in the week under review as against 14.85% in the week ended August 7. It stood at 7.74% during the week ended Aug. 15, 2009. The index for the Primary Articles group rose by 0.1% to 308.1 in the week under review. Inflation in the Fuel & Power group was unchanged at 12.57%. It was at (-)8.90% during the corresponding week of the previous year. The index for the Fuel & Power group remained unchanged at their previous week’s level of 385.9. But, inflation in the Non-food Articles group rose to 22.20% from 21.70% in the preceding week. It was at (-)2.7% in the year-ago period. The index for Non-Food Articles group rose by 1% to 290.6.
Weekly Newsletter - Aug 30 2010
We could witness a rebound next week, at least initially if trend in European and US markets on Friday are any indication. US and European stocks advanced after the second-quarter GDP revision for America came in higher than consensus forecast. There could of course be a reversal and stocks in the US and Europe could turn lower. So, keep a close eye on global markets and then take a fresh call on Monday morning.
Lok Sabha clears Nuclear Liability Bill
The Lok Sabha approved the Civil Nuclear Liability Bill after the Government struck a compromise deal with the Opposition over a contentious clause that deals with the liability of a supplier. Minister of State for Science and Technology Prithviraj Chavan moved the Bill in the Lok Sabha and tabled an amendment to Clause 17(B). He said the Government has taken on board the amendments proposed by the Opposition to the Bill. The Opposition wanted the word "intent" to be dropped from the clause as it meant that suppliers would be liable for an accident only if it could be proved they had the intent to cause the damage. "The nuclear incident has resulted as a consequence of an act of supplier or his employee, which includes supply of equipment or material with patent or latent defects or sub-standard services," says the rephrased amendment.
Cabinet approves Direct Taxes Code Bill
The Union Cabinet approved the Direct Taxes Code (DTC) Bill, paving the way for lower tax rates and reduced exemptions for both individuals as well as corporates. The Bill is likely to be tabled in the current Monsoon Session of Parliament, and could lead to the introduction of the new tax regime from April next year. "The basic income-tax exemption limit is proposed to be raised to Rs2 lakh from the current Rs1.6 lakh and corporate tax rate for both domestic and foreign companies is proposed at 30%," Finance Minister Pranab Mukherjee said after a Cabinet meeting.
Sadbhav Engineering
Shareholders of mid-sized infrastructure player, Sadbhav Engineering, can subscribe to the ongoing rights issue made by the company. At Rs 725, the offer is at a massive discount to Rs 1,500, at which the stock trades. Investors will also be allotted three convertible warrants of Rs 425 each, exercisable between three and 18 months, for every share issued on the rights basis.
Apollo Tyres
Shareholders can stay invested in the Apollo Tyres stock with a two-year perspective. At the current market price of Rs 72, the stock trades at about 8.6 times and 7 times its estimated consolidated earnings for FY11 and FY12, respectively. But uncertainty on two counts implies that fresh exposures to the stock can wait one, the unrelenting rise in the prices of rubber, the key raw material; two, the success of the company's European debut.
Adani Enterprises
Investors with a two-three year horizon can consider fresh exposure to the stock of Adani Enterprises (AEL). The company has made a complete transition from low margin trading to becoming a holding company for the group's promising new forays into businesses such as power generation and ports.
NALCO
Investors can consider booking profits in the stock of aluminium producer NALCO. An uncertain outlook for aluminium metal prices, coupled with little visible expansion in aluminium smelter capacity, might leave the company with little scope for earnings growth in a market suffering from an aluminium supply glut and possibly stagnant realisations.
Saturday, August 28, 2010
Friday, August 27, 2010
Post Market Review - Aug 27 2010
It was a disappointing end to the week as markets collapsed in the latter half of the trading session to close deep in the red. Sensex lost 228 points to close at 17998 while Nifty finished at 5408, down 69 points. BSE Mid-cap and Small-cap indices lost 1% and 1.3% respectively. On weekly basis, Sensex and Nifty broke the 3-week winning streak by losing 2.2% each this week. BSE Realty index plunged 8.5% over the week, becoming the top loser among the sectoral indices, followed by Metal index, down 3.3%. Consumer Durable index was the sole gainer, up 1.4%. European markets, after initial dip, recovered sharply and were trading modestly higher. US stock indices futures were up about a third of a percent ahead of 2nd quarter GDP data.
Nifty September 2010 futures at discount
Turnover slumps
Nifty September 2010 futures were at 5404, at a discount of 4.70 points over spot closing of 5408.70.
Sensex below 18K on late selloff
Today's major news
IT stocks decline as government hikes MAT
Havells India lightens on bonus issue; the stock closes 3.48% higher
Parenteral Drugs spurts on bonus buzz; the stock ends 8.40% higher
BSE Bulk Deals to Watch - Aug 27 2010
al Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/8/2010 526955 ABL Biotech R RAGHAVAN B 70000 19.76
27/8/2010 526955 ABL Biotech SILVER GOLDEN PROPERTY DEVELOP FIN INVESTMENT LIMITED S 131000 20.00
NSE Bulk Deals to Watch - Aug 27 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CNB FINWIZ PRIVATE LIMITED,BUY,106073,243.54,-
27-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,85757,246.41,-
Global risk appetite holds key
Global risk appetite holds key for Indian stocks which have corrected after hitting fresh 2-1/2-year highs recently. Abundant global liquidity has ensured that inflows into Indian stocks rise whenever investors globally are in risk taking mode. Capital inflows help India fund its current account deficit.
Sensex snaps three-week rise on weak global stocks
The key benchmark indices edged lower in the week ended Friday, 27 August 2010, halting a three-week rising trend, on weak global cues. Markets across the globe were gripped under selling pressure on worries about the pace of the economic recovery in the US, the world's biggest economy. The Sensex declined in three out of the five trading days of the week. The BSE Sensex fell below the psychological 18,000 mark while the S&P CNX Nifty retraced from 31-month high. Shares of Prakash Steelage made a strong debut on Wednesday, 25 August 2010.
Banking, realty stocks lead decline
The key benchmark indices slumped on worries over the pace of the US economic recovery. US is the world's biggest economy. IT stocks fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax (MAT) on book profits to 20% from the prevailing 18%. Realty, metal and consumer durables stocks reversed initial gains. Banking stocks fell across the board. But, PSU OMCs rose. The market breadth was weak, in contrast with a strong breadth in mid-morning trade.
Market may edge lower on weak Asian stocks
The market may edge lower as most Asian stocks fell ahead of a key economic data in the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 9.50 points at the opening bell.
Daily News Roundup - Aug 27 2010
Tata Motors is looking at raising up to US$1bn to fund its various expansion programmes. (FE)
L&T plans to launch a bank to gain access to cheap funds and scale up its presence in infrastructure financing. (ET)
Sensex ekes out slim gains...FMCG shares rally
The Indian market closed marginally higher on Thursday but not without some high drama towards the end of the session when key indices suddenly turned red only to rebound equally faster.
Stocks set to begin lower
Headlines for the day:
Direct tax code gets Cabinet nod
Tata Power may buy 50% stake in InterGen
Mumbai-based firm to form JV for gas logistics
Thursday, August 26, 2010
Post Market Review - Aug 26 2010
Benchmark indices closed marginally in the green after a choppy trade on the expiry of the August derivative series. Sensex gained 46 points to close at 18226 while Nifty finished at 5478, up 15 points. BSE Mid-cap index lost 0.1% while the small-cap index gained 0.1%. Sensex as well as Nifty have gained 1.3% during the August derivative series. Food inflation for the week ended August 14 came in at 10.05%, the previous week’s figure being 10.35%. Fuel price index rose 12.57%, remaining unchanged at previous week’s level while Primary Article inflation stood at 14.75% as against 14.85%. European markets were trading higher by just under a percent while US stock indices futures were up about a third of a percent ahead of jobless claims data.
BSE Bulk Deals to Watch - Aug 26 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
26/8/2010 530901 ACIL Cot Inds NILESH KRUSHNA PALANDE B 98643 37.56
26/8/2010 530901 ACIL Cot Inds KEYUR KIRIT MODI S 65000 37.35
26/8/2010 532975 Aishwarya Tele VIPUL HIRALAL SHAH B 205633 33.30
NSE Bulk Deals to Watch - Aug 26 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
26-AUG-2010,AUROPHARMA,Aurobindo Pharma Ltd.,DEUTSCHE SECURITIES MAURITIUS LTD.,BUY,375750,1037.53,-
26-AUG-2010,HANUNG,Hanung Toys and Textiles,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,219768,284.20,-
Sensex snaps two-day losing run
Major headlines
Food inflation eases to 10.05%
Entertainment Networks India jumps as Copyright Board reduces royalties; the stock ends 9.31% higher
CCL International board approves stock split; the stock closes 5.50% lower
Gujarat Pipavav shows IPOs are back with a big bang
Qualified Institutional Buyers (QIBs) 13.20
Non Institutional Investors 85.70 times
Retail Individual Investors (RIIs) 9.15
NSE's volatility index tumbles after Wednesday's sharp rise
F&O turnover spurts due to rollover
Nifty September 2010 futures were at 5472.50, at a discount over the spot closing of 5477.90. Turnover in NSE's futures & options (F&O) segment surged to Rs 156182.79 crore from Rs 139650.18 on Wednesday, 25 August 2010, as traders rolled positions from the near-month August 2010 series to September 2010 series. The August 2010 derivatives contracts expired today, 26 August 2010.
Asian stocks salvage some pride
Markets eke out some gains today as bargain hunting and modestly positive cues from the overnight US markets support the sentiments
Asian markets eked out some gains today as bargain hunting and modestly positive cues from the overnight US markets supported the sentiments. The recent array of steep losses prompted buyers to swing in the action on ideas that stocks have fallen too far compared with the economic outlook. A rebound in crude oil prices and a slide in the US dollar also supported the sentiments. Euro charted a four session high against the dollar, spurring a tentative rebound for most risky assets but the mood seemed to turn around in late trades as the DOW futures slipped in red and the Dollar broke under 1.2700 against the Euro.
Gujarat Pipavav Port IPO subscribed 18.67 times
Gets bids for 206.16 crore shares
Investors have made a beeline for the shares of Gujarat Pipavav Port (GPPL), as the company's initial public offer (IPO) was heavily subscribed. The IPO was subscribed 18.67 times by 16:00 IST, on the last day of bidding for the issue by retail investors and non-institutional bidders today, 26 August 2010. The IPO got bids for 206.16 crore shares, compared with 11.04 crore shares on offer.
Market snaps two-day slide
The key benchmark indices eked out small gains amid high volatility, as reports of above-normal rains in the week ended Wednesday, 25 August 2010, triggered bargain hunting after a two day slide. Volatility was high as traders rolled positions in the derivatives segment from the near-month August 2010 series to September 2010 series as August 2010 derivatives contracts expired today, 26 August 2010. The BSE 30-share Sensex was up 46.71 points or 0.26%, off close to 35 points from the day's high and up close to 65 points from the day's low.
Wednesday, August 25, 2010
Nifty September 2010 futures at premium
Turnover rises as rollover gathers steam
Nifty August 2010 futures were at 5464.95, at a slight premium over spot closing of 5462.35. Nifty September 2010 futures were at 5469.30, at a premium of 6.95 points over spot closing of 5462.35. The near-month August 2010 derivatives contracts expire on Thursday, 26 August 2010.
Gujarat Pipavav Port IPO subscribed 7.23 times
Gets bids for 79.85 crore shares
The initial public offer (IPO) of Gujarat Pipavav Port was subscribed 7.23 times by 17:00 IST, on the last day of the bidding for the issue by the qualified institutional buyers today, 25 August 2010, NSE data showed. The bidding for the issue by retail investors and non-institutional bidders ends tomorrow, 26 August 2010. Investors put in bids for a total of 79.85 crore shares, compared with 11.04 crore shares on offer.
Post Market Review - Aug 25 2010
On the penultimate day of the expiry of the August derivative series, markets ended in the red for the second consecutive day on the back of weak global cues. Sensex lost 132 points to close at 18179 while Nifty finished at 5462, down 42 points. BSE Mid-cap and Small-cap indices lost 1.4% each. European markets were trading lower by half a percent while US stock indices futures were marginally in the read ahead of data on new home sales, durable goods order, mortgage application and house price index.
BSE Bulk Deals to Watch - Aug 25 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/8/2010 513513 Aditya Ispat NARESH CHAND JAIN B 26579 9.92
25/8/2010 513513 Aditya Ispat AMIT TOMER B 36680 9.83
25/8/2010 513513 Aditya Ispat NARESH CHAND JAIN S 26579 9.87
NSE Bulk Deals to Watch - Aug 25 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-AUG-2010,BIL,Bhartiya Intl Limited,MANSUKH SECURITIES & FINANCE LIMITED,BUY,46939,122.30,-
25-AUG-2010,INDSWFTLAB,Ind-Swift Labs Ltd.,HEENA VORA,BUY,232614,121.14,-
25-AUG-2010,INDSWFTLAB,Ind-Swift Labs Ltd.,MBL & COMPANY LTD.,BUY,156305,121.05,-
Nifty falls below 5,500 in broad-based decline
The key benchmark indices edged lower, extending Tuesday's slide, in what was a choppy trading session. Volatility surged as traders rolled over positions in the derivatives segment from the near-month August 2010 series to the September 2010 series ahead of the expiry of the August 2010 contracts tomorrow, 26 August 2010. The BSE 30-share Sensex was down 131.95 points or 0.72%, off close to 130 points from the day's high and up close to 25 points from the day's low. Concerns over the pace of the global economic recovery continued to hurt sentiment.
Bullion metals shine
Weak housing data imparts glaze to precious metals
Bullion metal prices ended higher on Tuesday, 24 August 2010 at Comex. Worse than expected housing data pushed US stocks substantially lower on Tuesday thereby increasing the appeal of precious metals as an alternate investment. Prices also rose as dollar erased earlier gains and ended almost flat. Precious metals were the only ones among commodities to end higher today.
Crude ends lower
Prices drop as housing data disappoints
Crude prices dropped on Tuesday, 24 August 2010. Prices fell in tandem with US stocks after housing data checked in worse than expected and once again hinting the pace of global recovery.
Market seen extending Tuesday's losses
Weakness in global markets may continue to weigh on the domestic bourses. There are fears the global economic recovery may derail following series of poor economic data from the US. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 19.50 points at the opening bell. In the derivatives segment, the near-month August 2010 derivatives contracts expire on Thursday, 26 August 2010
Grey Market Premiums - GPPL
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Prakash Steelage | 110 | 9 to 11 |
| | 42 to 48 | 9 to 9.50 |
Sensex drifts lower...Nifty holds 5500
The Sensex slipped 98 points to close at 18,312, the index hit an intra-day high of 18,452 and an intra-day low of 18,261. While, NSE Nifty lost 40 points to close at 5,503.
Among the BSE sectoral indices, the BSE Realty index was the top loser, the index lost 2.7% followed by BSE Metal index down 2% and BSE Power index down 0.8%. Even the BSE Mid-Cap and the Small-Cap index ended lower by 0.7% each. Among the major gainers were, BSE FMCG index up 0.4% and BSE Consumer Durables index up 0.3%.
Daily News Roundup - Aug 25 2010
Vedanta Resources failed to get environmental clearance for its US$1.7bn bauxite mining project in the Niyamgiri hills of Orissa. (BS)
Piramal Healthcare may go in for development of a residential project or business hub on the 40 acres prime land in Thane. (BS)
Economy woes may drag Indian stocks at start
Headlines for the day:
ONGC divided on Cairn counter-bid idea
Piramal Health's realty ideas on Thane land
R-Power eyes $5-billion Indonesia investment
Morning Brief - Aug 25 2010
US stocks declined, sending the Standard & Poor’s 500 Index to a seven-week low, as a record plunge in home sales cast further doubt on the viability of the economic recovery. The NASDAQ, Dow Jones and S&P 500 slipped 1.83%, 1.32% and 1.45%, respectively Boeing Co., Alcoa Inc. and Caterpillar Inc. lost at least 2.7% to lead declines in the Dow Jones Industrial Average. Dell Inc. tumbled 3% amid reports it will increase its offer for 3Par Inc. Pfizer Inc. dropped 1.7% after its cancer treatment Sutent failed to improve overall survival in patients with a form of lung cancer.
Tuesday, August 24, 2010
Post Market Review - Aug 24 2010
After opening marginally in the green, markets witnessed a sustained selling pressure through the trading session to close half a percent lower. Sensex lost 98 points to close at 18311 while Nifty finished at 5505, down 38 points. BSE Mid-cap and Small-cap indices lost 0.7% each. Cairn jumped 3% on the back of reports that ONGC, OIL, GAIL may make a counter bid for the stake in the company. Sterlite Industries plunged 4% on the back of reports that environment ministry has rejected stage II forest approval for Vedanta’s bauxite mining project in Orissa and that government is examining penal action against Vedanta. European markets were down by more than a percent while US stock indices futures too were lower by about two third of a percent ahead of existing home sales data.
Sensex slides on weak global cues
Major headlines
Tulsi Extrusions’ board approved stock split; the stock closed lower by 0.91%
DQ Entertainment International signed European footwear licensing pact; the stock ended 1.41% higher
Econet Group deployed Subex’s fraud management solution; the stock closed 0.27% higher
Asian stocks float in a sea of red
Sustained selling hurts the regional equities as global worries stay firmly in place
Asian stocks eased further today, as the weak global economic recovery continued to act as the central theme in the global asset markets. The US economic data has been quite poor off late and with the Eurozone also flashing a number of negative data surprises yesterday, the traders saw little incentive to by anything than the US dollar, which neared its six week high against the Euro in the last session. US stocks closed lower, falling in late slide as amid a flurry of mergers and acquisitions. The Dow fell by 39.21 points or 0.4 percent to 10,174.41.
Gujarat Pipavav Port IPO subscribed 23%
Gets bids for 2.53 crore shares
Investors put in bids for a total 2.53 crore shares in the initial public offer of Gujarat Pipavav Port by the end of the second day of the bidding for the issue today, 24 August 2010. The IPO was subscribed 23%.
Realty, metal stocks lead decline
Fears of a slowdown in global growth spooked equity and commodity markets across the globe, with Indian stocks being no exception. Nevertheless, the 50-unit S&P CNX Nifty found support at the 5,500 level after falling below that mark in intraday trade. There was no panic on the domestic bourses as some side counters rallied. But, intraday volatility was high as traders rolled over positions in the derivatives segment from the August 2010 series to the September 2010 series ahead of the expiry of the near-month August 2010 contracts on Thursday, 26 August 2010.
Market seen opening lower on weak global cues
The market may see a negative start on weak global cues. Asian markets were trading lower following an overnight decline in US stocks, which fell on lingering worries about the health of the US economy. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 14 points at the opening bell.
Grey Market Premiums - Aug 24 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Prakash Steelage | 110 | 9 to 10 |
| | 42 to 48 | 8 to 9 |
Equities head towards a soft start
Headlines for the day:
RBI stalls proposed changes to FDI policy
ONGC-OIL-Gail may counter Vedanta offer
Cairn India strikes oil, gas in K-G basin
Daily News Roundup - Aug 24 2010
M&M has signed an agreement to acquire a majority stake in beleaguered South Korean auto manufacturer Ssangyong Motor Company (SYMC). (BS)
State-owned ONGC, OIL and Gail may make a joint bid to counter Vedanta Resources’ US$8.48bn offer for majority stake in Cairn India, and have already got US$10bn in loan commitments from international banks for the move. (BS)
Flat finish for Sensex…Nifty misses 5550 again
The Indian markets ended on a flat note on Monday starting off the week on a sluggish note. The benchmark indices stayed in a narrow trading range and were unable to find any specific direction. However, in the second half, key indices witnessed some upswing after the European markets opened in the green.
Monday, August 23, 2010
Gujarat Pipavav Port - Analysis
CRISIL has assigned a CRISIL IPO grade of "4/5" (pronounced "four on
five") to the proposed initial public offer (IPO) of Gujarat Pipavav
Port Ltd (GPPL). This grade indicates that the fundamentals of the IPO
are above average relative to the other listed equity securities in
India. However, this grade is not an opinion on whether the issue
price is appropriate in relation to the issue fundamentals. The grade
is not a recommendation to buy / sell or hold the graded instrument,
or a comment on the graded instrument’s future market price or its
suitability for a particular investor.
Asian stocks continue to back off
Markets mostly end lower on global growth worries
Asian stock markets continued to back off today, extending their recent spree of losses as the worries about a fragile global economy resurfaced yet again. The markets ended mostly lower with the US dollar continuing to witness steady safe haven buying and keeping the risky assets in check. The global stocks took a hit on Friday after calls by a European Central Bank official for more economic aid indicated the region's deficit crisis may take longer to solve. The US dollar rose to a fresh six week high thereafter and commodity prices slipped.
Gujarat Pipavav Port IPO gets muted response on day 1
Receives bids for 26.95 lakh shares
The initial public offer of Gujarat Pipavav Port got muted investor response on the first day of the issue today, 23 August 2010. The IPO garnered bids for 26.95 lakh shares, compared with 11.04 crore shares on offer.
Nifty scales 31-month closing high
The key benchmark eked out tiny gains, with some stocks witnessing a sharp rally. Volatility was high as traders rolled over positions in derivatives segment from the August 2010 series to the September 2010 series ahead of the expiry of the near-month August 2010 contracts this Thursday, 26 August 2010. European stocks and US index futures rose while Asian stocks ended lower.
BSE Bulk Deals to Watch - Aug 23 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/8/2010 513335 Ahmednagar Forg OLYMPIA BUILDERS PVT LTD B 202284 123.10
23/8/2010 532664 Amar Remedies ASHOKA FINSTOCK LTD B 155992 100.77
NSE Bulk Deals to Watch - Aug 23 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-AUG-2010,AMAR,Amar Remedies Limited,ASHOKA FINSTOCK LTD,BUY,278709,102.48,-
23-AUG-2010,BANKRAJAS,Bank Of Rajasthan Ltd,DEUTSCHE SECUTIRITES MAU LTD,BUY,841280,210.65,-
Major headlines
Mahindra & Mahindra signed a pact with SsangYong Motor; the stock closed higher by 1.02%
Larsen & Toubro bagged orders worth Rs1,195 crore; the stock closes 0.21% higher
Government extends sops to exporters
Life insurers fear ULIP sales halt in Sept
According to media reports, many private life insurers fear sales may come to a standstill in early September, as they do not yet have in place products that are compliant with new guidelines for unit-linked insurance plans (ULIPs) that come into force next month. At the same time, marketing by some unscrupulous agents has reached fever pitch as they push existing high commission policies, which will become non-compliant from next month, by positioning them as a limited period offer
Grey Market Premiums - Gujarat Pipavav Port
Prakash Steelage
110
10.50 to 11
Gujarat Pipavav Port
42 to 48
9 to 9.50
Market seen opening flat amid mixed global cues
The market is likely to open little changed with lack of clear direction from global markets. Asian markets were trading mixed. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could rise 5 points at the opening bell.
Hoping to reap further gains
"What we plant in the soil of contemplation, we shall reap in the harvest of action" – Meister Eckhart
Its harvest festival down south and investors too seem to be reaping. Yes, the gains on the bourses have been bountiful even as global markets continue to remain shaky. The question now is can the Nifty break past the 5500 level convincingly.
Markets likely to get a flat start
Headlines for the day:
SEBI wants listing of all mutual fund schemes
Gail-RIL deal on D6 gas allocation falls through
Dabur to rope in strategic investor for retail venture
Daily News Roundup - Aug 23 2010
Maruti Suzuki is mulling limiting exports to 15% of its total output to meet requirements within the country. (BS)
TCS opens its fifth delivery centre in China to cater to the Asia-Pacific market. (BS)
ABB opens a wind power generator factory in Vadodara, fourth such plant in India. (BS)
Dull finish to a winning week
The Indian markets ended on a dull note on Friday amid choppy trades. The FMCG, IT and select Telecom stocks were under pressure. While, the Realty, Capital Goods and Oil & Gas stocks were among the major gainers. The BSE Small-Cap index ended with slight losses while, the BSE Mid-cap index added 0.2%.
US stocks end lower for second straight week
Economic data play the spoilsport in a week when earnings do not disappoint much
US stocks registered losses for the second consecutive week that ended on Friday, 20 August 2010. The major averages began the week on a strong note. However, U.S. equity markets could not hold their gains for the week, and the culprit once again was U.S. economic data. A resurgence in deal activity to the highest levels since late 2009 contrasted with persistent reminders of the struggling global economic recovery.
Geodesic
Investors with a medium-term perspective can consider buying the stock of Geodesic (Rs 103.6). The stock has been on an intermediate-term downtrend from its September 2009 peak of Rs 158, forming lower peaks and lower troughs.
Asian markets open negative
Asian stocks fell amid mounting concerns over the global economy after calls by a European Central Bank official to maintain stimulus measures.
Bullion metals turn pale
Strong dollar hammers prices
Bullion metal prices ended lower on Friday, 20 August 2010 at Comex. Dec gold futures shed 0.5% to finish at $1228.80 per ounce, while Sept silver dropped 2% to end at $17.99 per ounce. Strength in the dollar index weighed on both precious metals.
Gold gained 1% for the week while silver shed 0.6%.
In the currency market on Friday, the dollar index, which weighs the strength of the dollar against a basket of six other currencies rose by 0.8%.
Crude slips again
Prices drop for third straight day
Crude prices dropped on Friday, 20 August 2010. October crude oil futures finished lower by 1.3% to $73.85 per barrel. Crude was once again marred by strong dollar concerns about the economy and finished the session in the red for the third consecutive day and for the eighth session in 9 days. Oil lost 2.6% for the week.
Sunday, August 22, 2010
ICRA
Investors with a three-year horizon can be consider accumulating the stock of ICRA, a credit rating agency with a presence in consultancy, advisory, information and IT services. The company may continue to deliver strong earnings growth with the revival in India Inc's capital raising plans, directly adding to rating revenues. Implementation of base rate and possibility of increased volumes in securitised issuances may also help maintain good earnings growth. A major portion of ICRA's current earnings comes from rating services, and being one of the prominent players, it is well-equipped to take advantage of any opportunities in this sector.
IL&FS Investment Managers
Investors with a high-risk appetite can consider buying the IIML stock.
With business entirely focussed on alternative asset management (private equity or PE), this only listed PE firm offers investors an opportunity to participate in the improving scope for PE investments in India.
Annual Report - Everonn Education - 2009-2010
EVERONN EDUCATION LIMITED
ANNUAL REPORT 2009-2010
DIRECTORS' REPORT
Your Directors have pleasure in presenting the Tenth Annual Report together
with the Audited Accounts of the Company for the year ended 31st March
2010.
Market may witness some weakness
The Nifty finally went past 5,500, due to fresh buying in IT (information technology) and banking stocks. The index struggled for almost five weeks around this mark before crossing it this week. The Nifty settled with a gain of 79 points at 5,531.
Gujarat Pipavav Port IPO Review
Investors with a three-four-year perspective can subscribe to the initial public offerof Gujarat Pipavav Port (GPPL). The strong parentage of A.P Moller-Maersk group, strategic location and fast growth in volumes, albeit on a low base are positives for this private port. The port is located on the main maritime trade routes and provides a good alternative for ships seeking to anchor at Mumbai.
China surpasses Japan as No.2 economy
China has passed Japan to become the world's second-largest economy behind the US. The Japanese economy was valued at about US$1.28 trillion in the April to June quarter, slightly below China's figure of US$1.33 trillion. The GDP of the US was roughly US$14 trillion in 2009. GDP expanded at an annualized pace of 0.4% in the three months ended June 30, slowing from a revised 4.4% expansion in the first quarter, the Cabinet Office said in Tokyo. The median estimate of economists was for annual growth of 2.3%.
MakeMyTrip surges further...market cap tops US$1bn
MakeMyTrip made its debut on the Nasdaq Stock Market on August 12, initially offering 5 million shares at US$14 each. Reaction was so strong the day it went public that the company then put more stock on the market, bringing its total initial offering to US$80.5mn.
Blackstone invests Rs13.5bn in Moser Baer’s energy arm
Moser Baer Projects Private Limited (MBPPL), a developer of power generation facilities with a diverse pipeline of thermal, solar and hydroelectric power projects has attracted an investment of Rs13.5 billion (approximately US$300 million / Rs1,350 crore) from The Blackstone Group. MBPPL has been founded by Deepak Puri & Ratul Puri, who have earlier established Moser Baer India Limited (MBIL), a world class technology manufacturer. MBPPL plans to commission 5,000 MW by 2016 comprising of 4,000 MW of thermal, 500 MW of solar and 500 MW of hydro capacity. Blackstone’s investment will enable MBPPL to emerge as a leading player in the India energy sector over the next few years.
Inflation falls below 10%...hits six-month low
India's wholesale price based inflation fell to a six-month low in July, slipping below the double-digit mark, the Government. This might give some flexibility to the Reserve Bank of India (RBI) in formulating monetary policy, especially if inflation moderates further next month. Inflation, as measured by the wholesale price index (WPI), stood at 9.97% last month as against expectations of a 10.4% rise. It was also down from June's number of 10.55%. The annual rate of inflation stood at (-)0.54% during the corresponding month of the previous year.
India to have 100mn 3G broadband subscribers by 2015: PwC
Indian telecom market has been growing at a CAGR of approximately 30% since 1995 and still growing strong. With additions of more than 14 million subscribers per month in the year 2009, the wireless subscriber base has grown to 635.51 million in June 2010, second only to China. Despite strong growth the industry also faces certain challenges such as low rural penetration, stagnant data usage over the years and limited broadband services says PricewaterhouseCoopers in its latest report titled ‘Mobile Broadband Outlook 2015’. However, the recently concluded 3G spectrum and BWA auction saw intense competition among the bidders resulting in a revenue inflow of Rs.1.06 trillion for the government, surpassing most estimates. In this context, the report examines the potential for Mobile Broadband Services, its impact on the telecom industry and other allied sectors in India. On the future of mobile broadband in India, Sivarama Krishnan, Executive Director, PricewaterhouseCoopers commented, "The transformative power of mobile broadband lies in its ability to enable greater access to the internet in India. Everyone from telecom industry, Government to other industries will be able to leverage a ubiquitous platform to reach out to a wide range of customers and provide diverse products and services more effectively."
Cabinet clears nuclear liability bill
The government has reportedly cleared the amended legislation. It has resolved the understanding with the BJP over the nuclear liability bill. The bill will be brought to Parliament next week. According to reports, there are no significant dissenters with smaller parties like JD(U) and NC pitching in for the bill. Even the RJD members on the standing committee had supported the bill. Earlier it was suggested that the bill should fix the liability cap on the state-run operator at Rs15bn (~US$320mn) as against Rs5bn (US$110mn) proposed in the original draft law. There was no compensation burden on private suppliers and contractors in the original draft.
Weekly Stock Picks - Aug 22 2010
Buy Tata Coffee
Buy Reliance Capital
Buy DLF
Buy JP Associates
Buy Hindalco
Weekly Newsletter - Aug 22 2010
The debate now is whether Nifty breaking above the 5500 level is a break out or bull trap. In any case, the indices were getting jittery at higher levels. The FII inflow has kept the momentum going so far. The main indices scaled to 30-week highs on Thursday pushing along banking and realty stocks. But Friday was a different ball game. Global markets reversed direction following a host of reports which pointed towards a slowdown in the US economy.
Weekly Equity Wrap - Aug 22 2010
During the week the benchmark indices maintained their winning streak by closing in green for the third consecutive week. On a weekly basis, The sensex as well as the Nifty closed at the highest level since the week ended January 18, 2008. On a weekly basis, the Nifty gained 1.44%
to close at 5530.65.
Saturday, August 21, 2010
Bull run leads market to a new high
Major news for the week:
Tata Motors July global sales grow 36%
Vedanta to buy 51-60% of Cairn
Inflation eases to 9.97% in July
Food inflation softens to 10.35%
Bharat Petroleum Corporation gains on buying Australian shale gas asset
BSE Mid-Cap, Small-Cap indices outshine Sensex
The key benchmark indiices surged to 2-1/2-year highs in the week ended Friday, 20 August 2010, on sustained buying by foreign funds. But, a recent string of weak economic data in the US, which reignited worries over global economic recovery, capped gains at the fag end of the week. The BSE Sensex fell in 3 out of the 5 trading sessions of the week.
Derivatives: Intermediate support at 5500 levels
Fresh positions in the F&O September series evidence some more upward steam for market; also strong support at both the 5500 and the 5400 level may limit the down move as fresh money is still waiting to enter in every dip
Gujarat Pipavav Port IPO Analysis
Good growth prospects burdened by huge equity
IPO shareholders will be buying the shares around or below the price at which promoters/selling shareholders bought the shares
Friday, August 20, 2010
Listless session ends with modest losses
Today’s major news
Reliance Communications join hands with Nokia; the stock ends 0.49% down
Bharat Petroleum Corporation gains on buying Australian shale gas asset; the stock ends 3.24% up
Time Technoplast hits 52-week high on acquisition; the stock closes 1.33% higher
BSE Bulk Deals to Watch - Aug 20 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/8/2010 530901 ACIL Cot Inds JAYSHREE SHANKAR BHOSLE B 73150 38.46
20/8/2010 532331 Ajanta Pharma CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 112847 238.25
NSE Bulk Deals to Watch - Aug 20 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,112847,237.45,-
20-AUG-2010,ASTEC,Astec LifeSciences Ltd,MANISH VRAJLAL SARVAIYA,BUY,292904,78.85,-
Nifty August 2010 futures at discount
Turnover declines
Nifty August 2010 futures were at 5,521.35, at a discount of 9.30 points compared to the spot closing of 5,530.65. Nifty September 2010 futures were near spot price at 5,530.50 compared to the spot closing of 5,530.65.
Severe bout of sell off for Asian stocks
Markets back to losing ways as weak US data continues to fan worries
The Asian markets eased today, witnessing a severe bout of sell off as the weak overnight US cues hurt the sentiments. Traders were seen selling in the wake of a very poor labor market data, which came in as a rude shock after a couple of decent reports in the middle of the week. It also underpinned that the US is in the middle of what could be called as a jobless recovery that the safe haven assets continued to gain, inflicting a heavy damage to the equities. US initial claims for unemployment benefits rose by 12,000 in the week ended Aug. 14, the Labor Department said. Claims totaled 500,000 in the week, the highest number since Nov. 14, 2009. Dow slumped around 200 points in intraday moves and closed down 144.33 points or 1.4 % to 10,271.21
Pharma shares rally
The key benchmark indices edged lower, snapping two-day gains, as profit booking and weak global cues played spoilsport. European and Asian markets declined today weighed by poor US economic data, which reignited global economic worries. The BSE 30-share Sensex was down 53.12 points or 0.29%, off 62.32 points from the day's high and up 40.92 points from the day's low.
Prakash Steelage Grey Market Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Prakash Steelage | 110 | 7 to 8 |
| | 42 to 48 | 8 to9 |
9 |
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