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Sunday, October 31, 2010
Gravitas India IPO Review
Investors can consider giving the IPO from lead metal recycler, Gravitas India, a miss on account of the company's weak operational track record, and forays into foreign markets such as Ghana, Senegal, and Ethiopia without the desired stability in its domestic operations. The company also faces significant headwinds in terms of tightening primary lead prices, which could translate into higher raw material costs and margin pressures.
Dewan Housing Finance
Fresh investments with a more-than-two-year-horizon can be considered in the stock of Dewan Housing Finance, a non-banking finance company that extends loans predominantly to lower and middle-income groups and has presence in Tier-II and Tier-III cities.
Piramal Healthcare Ltd
Shareholders can remain invested in the stock of Piramal Healthcare in the near-term. With its key cash cow sold to Abbott Labs, the stock's current valuations largely take support from the cash value on its books.
EID Parry
The stock of EID-Parry offers a good investment proposition for investors with a two/three-year holding period, as it trades at a deep discount to the intrinsic value of its sugar and farm input businesses put together.
Buy Gold this Diwali
Buying gold during Diwali is considered auspicious. But is it only superstition or has the ‘yellow' metal really brought riches for its buyers? Well, investors who bet on gold for capital appreciation have made money, if the trend in the last five years is anything to go by. The price of gold has gone up from Rs 875/gm during Diwali 2006 to around Rs 1,968/gm now, appreciating at about 22 per cent annually on a compounded basis over the last four years.
BSE Bulk Deals to Watch - Oct 29 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
29/10/2010 532682 ABG Shipyard GENUINE STOCK BROKERS PVT. LTD. B 376298 458.88
29/10/2010 532682 ABG Shipyard SMART EQUITY BROKERS PRIVATE LIMITED B 333565 457.39
NSE Bulk Deals to Watch - Oct 29 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
29-OCT-2010,ABGSHIP,ABG Shipyard Limited,C D INTEGRATED SERVICES LTD.,BUY,402072,459.83,-
29-OCT-2010,ABGSHIP,ABG Shipyard Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,506705,459.27,-
29-OCT-2010,ABGSHIP,ABG Shipyard Limited,GENUINE STOCK BROKERS PVT LTD,BUY,541211,458.57,-
Volatile week ends lower
The domestic markets shut the volatile week lower as investor sentiment turned sour on doubts over the quantum of quantitative easing by the Federal Reserve
Major news for the week
ICICI Bank Q2 net profit up 19% yoy
India to grow at 8.25-8.75% in current fiscal: FM
Food inflation eases to 13.75%
September exports at two-year high, trade deficit shrinks
Core sector growth falls to 18-month low
RBI, Fed policy meets in focus
The Federal Reserve's decision on monetary easing at its meeting on 2-3 November 2010 holds key to emerging markets including India which have seen a liquidity driven rally due to huge amount of inflows on availability of cheap funds abroad. Most leading economists expect the Fed to buy between $80 billion and $100 billion worth of assets each month in a new program to stimulate the economy.
Saturday, October 30, 2010
BSE Mid-Cap, Small-Cap indices edge lower
Good Q2 results from private sector banking major ICICI Bank, cigarette major ITC and power equipment major Bharat Heavy Electricals (Bhel) helped market stage a rebound from lower level in what was a highly volatile trading session. The market snapped a three-day losing streak. But, the broad market was weak as a number of small-cap and mid-cap stocks fell. World stocks fell as caution prevailed ahead of US third-quarter economic growth data due later in the global day.
Friday, October 29, 2010
Grey Market Premium - Coal India stable despite market drop
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Coal India | 245.00 | 39 to 40 |
| Gravita India Ltd. | 120 to 125 | 16 to 18 |
Daily News Roundup - Oct 29 2010
RPower has places US$8.2bn order with Shanghai Electric for equipment to generate 23,760MW power. (ET)
ONGC may acquire 60% stake in exploration block AA-ONJ/2 from the Indian arm of UK based Tullow Oil. (ET)
Expiry of bullishness…Nifty ends below 6000
It was an absolute bear attack in the last half an hour of the day. Selling in the Realty, Power and the Metals stocks dragged the NSE Nifty to end below the 6000 levels. Even the broader indices were under pressure. In the past three days the index has now lost nearly 120 points. Selling was so severe in the last half and hour, it was whip-saw, markets just crashed and it was on huge volumes. The turnover crossed all time high surging past the 2.43 lakh crores",
Sensex may see a weak opening
The Indian indices head towards a negative start following the weak Asian markets, as investors remained cautious ahead of the release of the US economic growth data
Headlines for the day:
Reliance Power awards $8.2 billion order to Shanghai Electric
Core Projects bags Rs26 crore order from Gujarat govt
Banks hope for status quo in mid-term policy review
Suddenly, it gets erratic!
The sudden and swift drop has made the near-term outlook turn slightly bleak. There are more chances of the key indices going down than up. The start today is likely to be down.
Nifty November 2010 futures at huge premium
Turnover soars to a staggering Rs 2.5 lakh crore
Nifty November 2010 futures were at 6,074.90, at a premium of 87.20 points over spot closing of 5,987.70. Turnover in NSE's futures & options (F&O) segment surged to Rs 252504.79 crore from Rs 206567.50 crore on Wednesday, 27 October 2010, as traders rolled over positions from the near-month October 2010 series to November 2010. The near-month October 2010 derivatives contracts expired today, 28 October 2010.
BSE Bulk Deals to Watch - Oct 28 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
28/10/2010 532682 ABG Shipyard SMART EQUITY BROKERS PRIVATE LIMITED B 307371 464.74
28/10/2010 532682 ABG Shipyard SMART EQUITY BROKERS PRIVATE LIMITED S 307371 464.94
NSE Bulk Deals to Watch - Oct 28 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
28-OCT-2010,ABGSHIP,ABG Shipyard Limited,C D INTEGRATED SERVICES LTD.,BUY,255560,463.14,-
28-OCT-2010,ABGSHIP,ABG Shipyard Limited,GENUINE STOCK BROKERS PVT LTD,BUY,257169,462.51,-
Nifty settles below 6,000
The key benchmark indices fell for the third straight day in a highly volatile trading sessions as traders rolled over positions in the derivatives segment from the near-month October 2010 series to November 2010. The near-month October 2010 derivatives contracts expired today, 28 October 2010. The barometer index BSE Sensex below the psychological 20,000 and the 50-unit S&P CNX Nifty fell below the psychological 6000 mark. A trend reversal was witnessed shortly after the market scaled a fresh intraday high in mid-afternoon trade. Turnover on NSE's futures & options segment surged to a staggering over Rs 2.5 lakh crore.
Thursday, October 28, 2010
Sensex stumbles on heavy volume...New listings sizzle
It was a day of heavy losses on Dalal Street. The Indian markets ended the day with sharp losses ahead of the F&O expiry tomorrow. This time the fall came with huge volumes. The total turnover surpassed Rs. 2 lakh crores.
Wednesday, October 27, 2010
Sensex ends weak; NTPC, HDFC, Maruti drop
Indian markets continued to drop for the second day on Wednesday. The Sensex ended deep in the negative terrain due to weak global cues and persistent selling seen across board dragged the index down to a low of 19,923.71. Selling in realty, fast moving consumer goods (FMCG) companies` stocks and index heavyweights dragged the Sensex and the Nifty below significant levels of 20,000 and 6,000 respectively during the day. The indices closed sharply lower on huge volumes but managed to settle above their psychologically important levels.
Weak Wednesday; Markets down for 2nd day
Major headlines
Patni Computer Q3 consolidated net profit dips 14% yoy; the stock ends 0.01% up
Union Bank of India drops on disappointing Q2 results; the stock closes 5.85% lower
Dabur India Q2 consolidated net profit up 15% yoy; the stock closes 1.29% lower
Turnover crosses Rs 2 lakh crore mark as rollover gathers steam
Nifty November 2010 futures at premium
Nifty October 2010 futures were at 6031, at a premium of 18.35 points over spot closing of 6012.65. Nifty November 2010 futures were at 6061, at a premium of 48.35 points over spot closing of 6012.65.
Turnover in NSE's futures & options (F&O) segment jumped to Rs 206567.50 crore from Rs 144403.84 crore on Tuesday, 26 October 2010, as traders rolled over positions in the derivatives from the near-month October 2010 series to November 2010 series ahead of the expiry of the October 2010 contracts on Thursday, 28 October 2010
BSE Bulk Deals to Watch - Oct 27 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/10/2010 532937 ABC Paper RAMSONS SECURITIES LIMITED B 100000 74.95
27/10/2010 532937 ABC Paper USHA BHUPENDRA SANGHAVI S 52677 75.00
NSE Bulk Deals to Watch - Oct 27 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-OCT-2010,ABGSHIP,ABG Shipyard Limited,GLOBAL VISION SECURITIES PRIVATE LIMITED,BUY,265000,423.11,-
27-OCT-2010,AMARJOTHI,Amarjothi Spinning Mills,DINESH RAJ SHARMA,BUY,173573,77.54,-
27-OCT-2010,ARCHIDPLY,Archidply Industries Limi,RKSV SECURITIES INDIA PRIVATE LIMITED,BUY,125583,33.89,-
BS TransComm soars on debut
Settles at Rs 378.50 on BSE
BS TransComm settled at Rs 378.50 on BSE, a 52.6% premium over the initial public offer price of Rs 248. The stock debuted at Rs 251, a 1.2% premium over the initial public offer (IPO) price. The stock hit a high of Rs 399 and a low of Rs 247.80. A total of 2.29 crore shares were traded on the counter on BSE
Realty, banking stocks lead 1% Sensex slide
The key benchmark indices fell for the second straight day as stocks declined across Asia on concerns that quantitative easing by the Federal Reserve might not be as large as expected. The market breadth was weak, in contrast with a strong breadth earlier in the day. The BSE 30-share Sensex lost 216.02 points or 1.07%, up close to 80 points from the day's low. The Sensex closed just a tad above the psychological 20,000 mark after falling below that level in intraday trade. The S&P CNX Nifty regained the psychological 6,000 mark after falling below that mark in mid-afternoon trade.
Sensex drifts lower in listless session
After starting the pre-Diwali week with smart gains on Monday, the Indian market seemed to lose some steam and eventually ended with moderate losses at the end of a lackluster session.
After opening with a positive bias, the bulls were unable to sustain the early gains as sentiment remained muted amid lack of incremental triggers. Metals and Banking stocks were the major laggards while Auto and Consumer Durables stocks were among the top gainers.
Tuesday, October 26, 2010
Nifty October 2010 futures at premium
Turnover declines
Nifty October 2010 futures were at 6,108.10, at a premium of 26.10 points over spot closing of 6,082. Nifty November 2010 futures were at 6,138.25, at a premium of 56.25 points over spot closing of 6,082.
No more gains for Asia
Equities witness a mostly bearish outing
Asian equities witnessed a mostly bearish outing today, as the late pullback in the US dollar in the yesterday's New York trades and worries on the US housing front kept the buying momentum under check. Investors were seen not getting carried away ahead of the upcoming G20 meeting and the currency markets continued to keep a tab on the risk appetite with the Japanese not far off 15-year highs against the dollar. The US housing markets remain weak and high levels of mortgage defaults may well persist for some time to come, according the Federal Reserve Chief Ben Bernanke. Media reports quoted Bernanake saying that the Fed is concerned about reported irregularities in foreclosure practices at a number of large financial institutions, and the Fed is looking into whether systematic weaknesses are leading to improper foreclosures.
Markets end lacklustre session lower
Major headlines
India to grow at 8.25-8.75% in current fiscal: FM
Sterlite Industries Q2 consolidated net profit rises marginally; the stock ends 0.09% lower
JSW Steel Q2 consolidated net profit up 16% yoy; the stock ends 0.96% down
BSE Bulk Deals to Watch - Oct 26 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
26/10/2010 590116 7SEAS TECH MEENU JAINBHANSHALI S 35398 99.21
26/10/2010 530513 Accurate Trans PRADEEP KR AGGARWAL B 15213 111.18
NSE Bulk Deals to Watch - Oct 26 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
26-OCT-2010,ARCHIDPLY,Archidply Industries Limi,BP FINTRADE PRIVATE LIMITED,BUY,189157,38.25,-
26-OCT-2010,CREWBOS,Crew B.O.S. Products Limi,AARKEN ADVISORS PRIVATE LIMITED,BUY,100000,204.57,-
Market drifts lower on weak global stocks
The key benchmark indices edged lower in a choppy trading session as weak global stocks weighed on investor sentiment. Index heavyweights Reliance Industries (RIL) edged higher. The market breadth was negative, compared with a strong breadth earlier in the day. The BSE 30-share Sensex was down 81.73 points or 0.4%, up close to 35 points from the day's low and off close to 120 points from the day's high. Banking and metal stocks fell. Sterlite Industries reversed losses after reporting Q2 result. Auto stocks bucked the weak market, with shares of commercial vehicles major Tata Motors hitting a record high.
Coal India - IPO Grey Market Premium - Update
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| B.S. Trans | 248 (Lower) | Discount |
| Prestige Estate | 183 (Upper) | 6 to 7 |
| Gyscoal Alloy | 71 (Upper) | 13 to 15 |
| Coal India | 245.00 | 39 to 41 |
Crude prices stay steady
Somber dollar and supply disruptions at France keep crude prices on higher side
Crude oil prices ended higher on Monday, 25 October 2010 at Nymex. Somber dollar and supply disruptions at France kept crude and crude product prices steady for the day.
Market may open marginally lower; Sterlite Industries Q2 result eyed
The market may open slightly lower if trading of S&P CNX Nifty futures on the Singapore stock exchange is of any indication. It indicates that the Nifty could fall 9 points at the opening bell. Jindal Steel & Power, NTPC and Sterlite Industries are due to report Q2 results today, 26 October 2010.
Daily News Roundup - Oct 26 2010
Dr Reddy's Laboratories has entered into an agreement with drug major Cipla and UK-based Vitabiotics to market over-the-counter (OTC) and prescription drugs, besides nutraceutical products, in Russia and CIS countries. (ET)
IVRCL Infrastructures & Projects Ltd bagged three projects worth Rs19.7bn from Saudi Arabia and Nepal marking the entry of the company into international projects. (BL)
Sensex inches higher…Small-caps outperform
The Indian markets ended with smart gains on Monday starting off the week on a positive note. The Auto, Metals and the Pharma stocks led the rally which lifted the NSE Nifty to end above the 6100 levels. Even the broader indices participated in the rally, infact the Mid-caps and the Small-Caps outperformed the benchmark indices. However, the IT and the FMCG stocks were under pressure.
Hoping to sustain
Today’s start is likely to be lackluster owing to indecisive global cues. If you think your holdings will not sustain the volatility, abstain from doing too much. Just hang on till a clearer picture emerges either way.
Precious metals glitter
Weak dollar and buying spree keep prices high
Precious metal prices ended substantially higher on Monday, 25 October 2010 at Comex. Drop in dollar and anticipation that gold will be bought in India during first week of November kept prices high on Monday. Last week, gold had registered first weekly loss in six weeks.
Markets expect a negative start
Headlines for the day:
SEBI doubles retail limit, tightens IPO norms
Madras HC dismisses Subhiksha's merger proposal
Vedanta to miss deadline for shareholders' nod
Market remains firm in a choppy session
Firm global markets helped the Indian stocks score gains in a choppy
trading session. Stocks were volatile as traders rolled over positions
in the derivatives segment. The market edged higher in early trade.
After moving in a narrow range for a while, the key indices hit fresh
intraday highs in mid-morning trade. BSE Sensex closed at 20303, up
137 points and the Nifty was at 6105, up 40 points. High beta metal
and realty stocks showed some momentum. Consumer durables, cement and
auto stocks also were up. Most Asian markets climbed on expectations
that further monetary easing by the US Federal Reserve would boost
liquidity in the region.
Monday, October 25, 2010
Nifty October 2010 futures at premium
Turnover surges
Nifty October 2010 futures were at 6,137.15, at a premium of 31.35 points over spot closing of 6,105.80. Nifty November 2010 futures were at 6,165, at a premium of 59.20 points over spot closing of 6,105.80.
Asian markets joyous after G20
Most indices gain after global finance ministers and central bankers note that a global economic recovery is under way at an uneven pace
Asian markets mostly went up today, cruising higher as the renewed wave of risk appetite pushed up the commodities and traders eyed the latest G20 statement. The much awaited talks of the G20 meet in South Korea ended yesterday and the Group of 20 finance ministers and central bankers noted that a global economic recovery is under way but uneven, and warned of the need to move toward more “market-determined” currency exchange rates. Growth has been strong in many emerging-market economies, but the pace of activity remains modest in many advanced economies, noted the G20 in a joint communiqué. Dollar slipped following this, as traders eyed for a definite turn towards the much anticipated quantitative easing in the next meet of US Fed.
Market drifts higher on firm global stocks
Initial batch of strong Q2 September 2010 results and firm global markets helped Indian stocks score decent gains in a choppy trading session. Stocks were volatile as traders rolled over positions in the derivatives segment from the near-month October 2010 series to November 2010 series ahead of the expiry of the October 2010 contracts on Thursday, 28 October 2010. Shares of IT bellwether Infosys fell and index heavyweight Reliance Industries came off the day's high. Most Asian markets climbed on expectations that further monetary easing by the US Federal Reserve would boost liquidity in the region.
Nifty bounces back, ends above 6100
Major headlines
Hindustan Unilever Q2 net profit jumps 32% yoy; the stock closes 1.36% higher
Rural Electrification Corporation Q2 net profit surges 25% yoy; the stock ends 2.56% lower
Adani Power Q2 net profit at Rs125.84 crore; the stock closes 0.15% higher
BSE Bulk Deals to Watch - Oct 25 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/10/2010 500215 Agro Tech Foods SBI MUTUAL FUND B 757000 310.00
25/10/2010 500215 Agro Tech Foods ITC LIMITED S 1000000 310.00
NSE Bulk Deals to Watch - Oct 25 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-OCT-2010,BINDALAGRO,Oswal Chem & Fert Ltd.,OSWAL AGRO MILLS LIMITED,BUY,10013394,21.50,-
Grey Market Premiums - Oct 25 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| B.S. Trans | 248 (Lower) | Discount |
| Prestige Estate | 183 (Upper) | 6 to 7 |
| Gyscoal Alloy | 71 (Upper) | 13 to 14 |
| Coal India | 225 to 245 | 37 to 38 |
Swim with the current
We are expecting a sedate start today, in line with the global trend. US stocks barely advanced on Friday. European markets ended in red. Asian benchmarks are mixed. Going ahead, things might get a bit more volatile due to the F&O expiry.
In matters of style, swim with the current; in matters of principle, stand like a rock. - Thomas Jefferson.
World markets seem to be in a state of limbo right now. Corporate earnings are competing with concerns about economic recovery. For India too the story is no different; the September spark is clearly missing. The Sensex and the Nifty are in a sideways consolidation mode. Fresh fireworks ahead of Diwali look less likely for now.
Daily News Roundup - Oct 25 2010
Sterlite Energy revised the outlay for its proposed power project in Punjab upwards by over Rs30bn, taking the total investment commitment to around Rs130bn. (BS)
Reliance Industries says it plans to shut down one of the crude distillation units at its Jamnagar Refinery for maintenance and inspection. (BS)
Toshiba Mitsubishi-Electric Industrial Systems Corporation is in talks with L&T to build a power drive and motor manufacturing unit in the country. (ET)
Weekly: Up down and flat...Nifty fails to hold 6100
The splendid response to the Coal India IPO boosted the morale of the bulls; as did a few strong corporate earnings. However, momentum failed to last as key indices saw accelerated selling on Friday. Sentiment was also nervous after two consecutive weeks of losses, which dragged down the indices from 33-month highs. Finally the Sensex and Nifty closed the week flat at 20166 and 6066 respectively.
Markets set to start strong
Headlines for the day:
Coal India IPO issue price decision today
General Electric gets Rs10,000 crore order from R-Power
RBI wants lock-in period for FDI in hotels, tourism
LIC Housing Finance, Bajaj Auto, Educomp Solutions, Kotak Mahindra Bank, Power Grid, Sesa Goa, Sobha Developers, TCS, South Indian Bank, Info Edge
US stocks end week on a steady note
Most Dow components exceed earning estimates
US stocks registered modest gains for the week that ended on Friday, 22 October 2010. Earning reports poured in full swing this week and there were quite a few big names that reported earnings including twelve major Dow components. Most of the companies exceeded expectations. Other than that, the economic reports too pained a overall steady picture of the economy.
Strike at oil port push up prices
Stocks fail to ward off weekly losses
Crude oil prices ended higher on Friday, 22 October 2010 at Nymex. Prices rose despite the firm dollar. Continuation of a strike at an important oil port in Southern France impacted prices.
Precious metals drop for second straight day
Prices witness weekly losses in a long time
Precious metal prices dropped for second straight day on Friday, 22 October 2010 at Comex. Prices erased earlier gains and fell as the dollar strengthened. With Friday's loss, gold registered first weekly loss in six weeks.
Sunday, October 24, 2010
3 weekly technical picks
Following are the weekly technical picks from Edelweiss:
Jindal Saw
Stock had generated channel patter breakout on its weekly chart along with good volumes. Oscillator on daily and weekly chart depicts bullishness indicating upside momentum to continue in the counter.
Jaypee Infratech
The stock of Jaypee Infratech could be a dark horse play on the infrastructure and real estate segments in the northern region of the country. Investors with a penchant for risk can consider investing in the stock with a 2-3 year perspective.
Saturday, October 23, 2010
Bajaj Auto launches Pulsar in Metallic Orange
Bajaj Auto Ltd. has added more zing to its Pulsar range of bikes with a flamboyant new color – Metallic Orange. The new color is exclusively available on the larger Pulsar 180, 220 and 220F variants. The new two tone orange charmer of the roads is bound to cast its spell on peppy and young Pulsar lovers. The new color bike comes on the back of great sales performance of Pulsar and is a Diwali gift to all Pulsar lovers. With a dominant 50% share of the sports motorcycle segment in Q2 2010-11, Pulsar has consistently outgrowing the segment thus making it the largest brand by far. Pulsar domestic volumes in Q2 2010-11 are at 67,468, up 56% over the same period last year. This growth is impressive considering the sports segment has grown only 32% and the total industry has grown by 21% in the same period.
SBI retail bond issue oversubscribed 17 times
State Bank of India's (SBI) retail bond issue was subscribed 17.3 times. SBI received applications worth around Rs85bn on Day One itself, although it had planned to collect just Rs10bn. Given the overwhelming response, SBI could come out with another such issue in the next three months, reports said. The bank is planning to close the issue before October 25. SBI floated a public issue of lower Tier II bonds worth Rs10bn, including Rs5 bn greenshoe. The QIB portion was subscribed more than 46 times , while the Non-Institutional (HNI) section was subscribed 18 times and Retail by twice the amount of bonds allotted to them.
IOC to hit markets with Rs 190bn FPO : report
Indian Oil Corporation (IOC) is likely to raise about Rs 190bn from capital market. Half the proceeds would go to the government, which will offload 10% of IOC shares to help it meet its disinvestment target of Rs 400bn this fiscal. In addition, the company will issue new shares amounting to another 10% of its equity capital to help the country’s largest state refiner build new units. IOC will start shortlisting merchant bankers next week for its public issue. The IOC public offer may hit the market by January, adding to the rush of equity and debt issues aggregating to an estimated Rs 800bn in the next six months.
Rupee weakens from two-year peak
The rupee slipped from its highest level in more than two years against the dollar, as local stocks fell and the US currency recovered some of the lost ground against major international rivals. The rupee also fell as domestic oil refiners bought dollars to buy crude oil, and other Asian currencies declined. Traders and dealers are also closely watching the Reserve Bank of India (RBI), which had bought dollars to stem the rupee's strength on Oct 14. The partially convertible Indian currency ended at 44.59 per dollar on Friday, after touching a week's low of 44.60 and week's high of 44.1275. It had closed at 44.1050 on Oct. 15. The rupee fell 1% this week. Last Friday it had risen to 43.96, its highest since August 2008.
Rajnikant magic...Eros International collects Rs610mn for Endhiran
Eros International Media Ltd (Eros International), the largest studio in India, is proud to announce the spectacular opening for the Tamil and Telegu versions of the film ‘Endhiran’ which has recorded a gross overseas box office collection of Rs. 610mn . This film has been released by Ayngaran International, which is a 51% subsidiary of Eros International and is the pioneer in Tamil film distribution in theatrical and home video formats in the international market.
Weekly Newsletter - Oct 23 2010
Another week of consolidation has just gone by as the key Indian stock indices seem to be struggling for direction. Even the global markets are not doing a great deal as investors digest the latest corporate earnings amid prospects of further monetary easing by the Fed early next month. That will indeed be a big event that everyone will watch closely. China has just surprised the world by announcing rate hikes. Also, data this week suggested that the Chinese economy is moderating. The G-20 finance ministers will meet this weekend in South Korea ahead of next month's leaders' summit at the same venue. The G-20 meet comes amid a bitter global bickering over uneven trade and money flows hurting the recovery process. Nothing concrete is expected out of the G-20 meet this week as China continues to resist demands to let yuan rise more freely.
Coming back to India, the market may remain in a state of flux next week as well. The Diwali week is packed with big events with potential to move the markets either way at least temporarily. The policy meetings of the RBI and the Fed are scheduled in early November along with the US congressional elections and the Obama visit. Apart from that we will get the usual economic data early in the month. Results will continue to pour in from all corners of the world. Next week we will also have the F&O expiry for the current month's derivative contracts. One should remain cautious given the uncertainty over the near-term direction of the market. Stick to a stock-centric approach and avoid taking aggressive bets either way.
In terms of global data points, existing home sales, consumer confidence, durable goods orders, home prices, new home sales, GDP and consumer sentiment reports will be out nest week in the US. Statistics on UK GDP and Germany's CPI will also be announced besides BOJ's policy meeting.
REC, LMW, Titan, Mahindra Holidays, Amara Raja Batteries, Hindustan Media Ventures, Deepak Fertilizers, Dabur, Karur Vysya Bank, Bata India, Thermax, Trent, Patni, HT Media, HCC, ABB, Kansai Nerolac, M&M, Sona Koyo Steering, BPCL, AV Birla Nuvo, Maruti and Chambal Fertilizers are some of the big companies that will declare their results next week.
Q2 FY11...TCS triumphs; Wipro misses target
Tata Consultancy Services (TCS) has reported a net profit of Rs21.69bn in the second quarter ended September 2010, up 32% from Rs16.42bn during the corresponding quarter last year. In dollar terms (US GAAP), the company reported its highest ever sequential growth of 30.3% in its top-line. In rupee terms, revenues stood at Rs92.86bn, up 25% as compared to Rs74.35bn during the corresponding quarter last year.
Coal India IPO receives overwhelming response
The mega IPO of Coal India has been subscribed by more than 15 times as at 8 pm (IST) on Oct. 21, according to the NSE web site. The issue, the largest ever in the history of Indian capital markets, received bids for a staggering ~9.63bn shares as opposed to the 631.63mn shares on offer. The qualified institutional bidders (QIB) section was subscribed 24.7 times. The QIBs put in bids for a staggering 493.38 crore shares, compared with 28.42 crore shares reserved for the category. Bidding for the QIBs closed on Oct. 20.
Friday, October 22, 2010
BSE Bulk Deals to Watch - Oct 22 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-OCT-2010,BILPOWER,Bilpower Limited,PITAMBAR J KANSARA,BUY,89971,197.44,-
22-OCT-2010,BINDALAGRO,Oswal Chem & Fert Ltd.,OSWAL AGRO MILLS LIMITED,BUY,39235457,19.58,-
Volatile markets end lower
Major headlines
Wipro dips on weak Q2 results; the stock ends 4.54% down
Coal India IPO price by October 24, exit option till October 25
Bank of India slides on below expectation Q2 results; the stock ends 2.78% lower
BSE Mid-Cap, Small-Cap indices outshine Sensex
The market logged marginal gains in the week ended Friday, 22 October 2010, halting a two-week declining trend, on strong initial September 2010 quarterly earnings. Markets across the globe were inflicted with high volatility during the week. Closer home, the key benchmark indices -- the BSE Sensex and S&P CNX Nifty -- slipped below the psychological 20,000 and 6,000 levels respectively only to regain those levels later. The market slipped in 3 out of 5 trading sessions in the week.
Next batch of Q2 results in focus
Strong initial Q2 September 2010 corporate results and ample global liquidity will ensure buying support for equities though volatility may rise as traders roll over positions in the derivatives segment from the near-month October 2010 series to November 2010 series ahead of the expiry of the October 2010 contracts on Thursday, 28 October 2010.
TCS jumps after strong Q2 results; Wipro slumps
The key benchmark indices edged lower amid high volatility, tracking weak European stocks and lower US index futures, as caution prevailed ahead of G-20 meet. Volatility was high as traders rolled over positions in the derivatives segment from the near-month October 2010 series to November 2010 series ahead of the expiry of the October 2010 contracts next Thursday, 28 October 2010. The BSE 30-share Sensex was down 94.72 points or 0.47% off close to 185 points from the day's high and up close to 80 points from the day's low.
Coal India Allotment Chances - Subscription Figures
| | |||
| Issue Dates: 18-10-2010 to 21-10-2010 | |||
| Subscription Levels - EOD 21-10-2010 | |||
|
| Book Size | Subscription | No. of times (x) |
|
| No. Of Shares | ||
| QIB | 284,236,398 | 7,019,464,125 | 24.70 |
| Non-Institutional | 85,270,919 | 2,166,004,875 | 25.40 |
| Retail | 198,965,479 | 458,621,225 | 2.31 |
| Employee | 63,163,644 | 6,174,300 | 0.10 |
|
|
|
|
|
| Total | 631,636,440 | 9,650,264,525 | 15.28 |
| No of Bids ~ 17,25,000 | |||
| After spill over from un-subscribed Employee Quota | |||
|
| Book Size | Subscription | No. of times (x) |
|
| No. Of Shares | ||
| QIB | 312,731,070 | 7,019,464,125 | 22.45 |
| Non-Institutional | 93,819,321 | 2,166,004,875 | 23.09 |
| Retail | 218,911,749 | 458,621,225 | 2.10 |
| Employee | 6,174,300 | 6,174,300 | 1.00 |
|
|
|
|
|
| Total | 631,636,440 | 9,650,264,525 | 15.28 |
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