Monday, January 11, 2010
While Infinite Computer Solutions has a strong base of clients, improving margins and good growth prospects, the IPO pricing appears a bit stiff.
Mid-tier IT services company, Infinite Computer Solutions is seeking to raise Rs 190 crore from an IPO to partly fund its acquisition and expansion plans. The issue will also help Whiterock Investments, a part of Singapore-based Temasek which currently holds just under 10 per cent, to exit from the company. Of the Rs 190 crore, about Rs 95 crore will be available for the expenditure programme of the company while the rest will go to investors such as Whiterock and the promoters.
The promoter’s stake will come down from 72 per cent to 58 per cent on part sale of their equity holding and on an expanded base. The issue constitutes 26 per cent of expanded capital of the company.
Infinite has three lines of business or service offerings—application management or IT services, infrastructure management and product and IP-leveraged solutions. The company which counts IBM, Fujitsu, GE and Verizon, America’s largest wireless carrier, as its clients is focussed on generating business from large companies operating in verticals of telecom, media, healthcare and utilities. While Infinite has had to make do with smaller margins initially due to its Fortune 500 company focus, it has gained in terms of the size of contracts, experience in handling large projects and steady revenues.
However, analysts say that the company is taking a big risk on its thin roster of clients (the top 5 contribute 84 per cent of revenues, with Verizon alone contributing nearly 40 per cent) and can cause problems if vendors are switched or work is downsized. The company however believes that the scale, complexity and familiarity with the critical processes ensure the “stickability” of the vendor. The company also faces geography risk with 90 per cent of its business flowing from the US.
While the long-term outlook for software services is strong and recent uptick in hiring is a positive, the recovery in the US and other developed markets continues to be shaky. Though a predominant share of the future business will continue to come from the US, the company signed a multi-million dollar deal with a European company in 2008 and is looking to diversify its geographic risk further.
Acquisitions, expansion strategy
In addition to expanding its existing businesses, Infinite is looking at acquiring companies or intellectual property-based products from customers which can be developed further. About Rs 38 crore of the IPO proceeds are earmarked to fund its acquisitions. The company is keen to acquire IP-products and move to a revenue share model, which fetch good margins. Currently, only 5 per cent of its revenues come from this route. The company had acquired US-based company Comnet in 2006 to expand its offerings and tap the entire telecom value-chain rather than limiting itself to just telecom service providers such as Verizon. Infinite is likely to maintain its focus on the telecom space, which fetches it over half of its revenues, by offering IT and telecom infrastructure management solutions. It has four development centres across the country and plans to expand its existing campus at Bangalore and set up a new facility at Gurgaon at a cost of about Rs 26 crore. Further, the company plans to retire a part of its debt of Rs 24 crore through the issue proceeds which would be to the tune of Rs 8.5 crore.
While the company’s sales, operating profit and net profit have grown at a rapid clip since 2005-06, much of the growth has come in recent times. Sales jumped 45 per cent year-on-year in 2008-09 to Rs 496 crore while operating profit margins went up 540 basis points to 13.2 per cent.
The company says that the jump in operating profit margins (which have since improved to 18 per cent in the first half of 2009-10) has been on counts of change in service delivery, segment and revenue model mix. At the segment level, the company has been reducing its share of application development and maintenance business from 80 per cent in 2005-06 to 61 per cent in 2008-09 and increasing its share of higher margin business namely, IP-leveraged solutions and remote management services.
Further, the contribution from the lower margin time and material or labour hour model has decreased from 81 per cent to 50 per cent while fixed price contracts, which ensure steady revenues and are a better bet in these times, increased from 19 per cent to 43 per cent during the same period. In terms of service delivery, the share of offshore business which was at 4 per cent in 2005-06 has increased to a quarter of revenues and has helped margins.
Based on the annualised first half numbers, the company’s revenues will increase by about 28 per cent year-on-year to Rs 636 crore in 2009-10 and net profit by 65 per cent to about Rs 74 crore. At an EPS of Rs 16.9 on expanded post-issue equity, the stock is available at 9.17-9.7 times its price band of Rs 155-Rs 165. While there are no other similar-sized players with revenues predominantly from the telecom software space (larger companies such as Mahindra Satyam are in a different league), when compared to mid-tier companies the asking price seems to be a touch stiff. Infotech Enterprises (2009-10 estimated sales at Rs 945 crore and OPM of 22 per cent) for example despite higher sales and profit margins is available at similar valuations (10.7 times estimated FY10 EPS of 27.1). Also, the high client and geographic concentration substantially increase the risks to its business. Investors with a longer-term perspective may apply at the lower price-band.
via Business Standard
RIL January 2010 futures at premium
Nifty January 2010 futures were at 5,257.30, at a premium of 7.90 points as compared to the spot closing of 5,249.40. Turnover in NSE's futures & options (F&O) segment was Rs 46,016.12 crore, lower than Rs 48,481.59 crore on Friday, 8 January 2010.
Reliance Industries (RIL) January 2010 futures were at premium at 1088.45 compared to the spot closing of 1083.50.
Jindal Saw January 2010 futures were at a slight premium at 206.95 compared to the spot closing of 206.
Suzlon Energy January 2010 futures were near spot price at 95.25 compared to the spot closing of 94.95.
In the cash market, the S&P CNX Nifty rose 4.65 points or 0.09% at 5,249.40.
Hang Seng, Shanghai, Sydney advance while Sensex, Seoul edge lower
Stock market in Asian region marked Monday higher on 11 January 2010, with higher commodity prices and a positive close on Wall Street last Friday prompting investors to go in for stocks cutting across various sectors. Though gains were modest in some of the markets, the mood across the region is quite bullish so far.
On Wall Street, stocks ended the first week of 2010 with good gains. The week that ended on Friday, 08 January, 2010 did not have any important catalyst but still indices struck new fifty-two week highs. Stocks also digested a worse than expected labor market report.
At the end of the day on Friday, 08 January, 2010, the Dow Jones Industrial Average ended higher by 11.33 points at 10,618.19. Nasdaq ended higher by 17.12 points at 2317.17. S&P 500 ended higher by 3.29 points at 1144.98. Dow was down by 32 points earlier during the day. A late rally helped stocks end in the green.
For the week, Dow ended higher by 190.14 points (1.8%) at 10,618.19. Nasdaq ended higher by 48.02 points (2.1%) at 2317.17. S&P500 gained 29.88 points (2.7%) at 1144.98.
In the commodity market, crude oil rose to a 15-month high on speculation fuel demand will increase as energy and economic data indicate the global recovery may be sustained amid freezing temperatures in the Northern Hemisphere.
Crude oil for February delivery rose as much as 92 cents, or 1.1 percent, to $83.67 a barrel in electronic trading on the New York Mercantile Exchange. That’s the highest since 14 October 2008. It was at $83.47 a barrel at 3:53 p.m. Singapore time.
Brent crude oil for February settlement rose as much as 85 cents, or 1 percent, to $82.22 a barrel on the London-based ICE Futures Europe exchange. It was at $82.02 a barrel at 3:53 p.m. Singapore time.
Gold rose to a one-month high in London as a weaker dollar increased demand for the precious metal as an alternative investment. Gold for immediate delivery gained as much as $20.15, or 1.8%, to $1,158.40 an ounce, the highest price since 8 December 2008. The metal traded at $1,157.15 at 9:16 a.m. London time. Gold for February delivery rose 1.6% to $1,157.20 an ounce on the New York Mercantile Exchange’s Comex division.
In the currency market, the US dollar lost more ground against the major Asian currencies on Monday following last week's disappointing U.S. jobs data.
The US dollar slid to 92.4570 Japanese yen from 92.6400 yen.
The Hong Kong dollar was trading at HK$ 7.7545 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 closed 1.8 US cents higher on Monday as a weaker-than-expected jobs report in the US pared back expectations of a US rate hike. At the local close, the dollar was trading at $US0.9312, up 1.9% from Friday’s close of $US0.9135. It was the highest close in the local session since 18 November 2009.
In Wellington trade, the New Zealand dollar rose above US74c today as the Australian dollar soared on strong economic data and the United States dollar weakened on poor economic data. The NZ dollar was buying US74.02c by 5pm from US73.72c at 8am and US73.11c at 5pm on Friday. It remained below the US74.29c level seen last week. While the Australian dollar rose to US93.14c at 5pm from US91.53c at the same time on Friday.
The South Korean won closed at 1,119.90 won to the greenback, up 10.60 won from Friday's close, as China's record imports in December boosted South Korea's exports outlook.
The Taiwan dollar strengthened further against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 31.7410, 0.1390 up from Friday’s close of NT$31.8800.
In equities, Asian stock markets ended mostly higher Monday, with Shanghai equities lifted by brokerages after China's cabinet approved market-reform measures such as the launch of index futures and short-selling.
Most other regional markets also gained, with a sharp increase in commodity prices spurring resource stocks. Investors also looked past weaker-than-expected U.S. nonfarm payrolls data.
Stock markets in Japan were closed for holiday
In Mainland China, the stock market closed higher with materials and industrials stocks showed strength, supported by strong gains in commodities prices after a Chinese government report showed exports climbed for the first time in 14 months and imports reached record highs. Gains were also fueled by China’s Finance Minister pledge to spend the full amount of planned stimulus in 2010, despite improvements in its economy and efforts to control bank lending.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, rose 0.52%, to 3,212.75, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange slid 0.8% to 13,161.09. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, edged up 0.06%, to 3,482.05.
On the economy front, China's import and export value increased 32.7% year on year or 16.7% month on month to $243.02 billion in December, according to statistics released by the General Administration of Customs on its website today.
The export value was $130.73 billion, up 17.7% from a year earlier. The value of imports was $112.29 billion in November, up 55.9% year on year or 18.8% month on month.
In 2009, the import and export value dropped 13.9% year on year to $2.21 trillion. Exports fell 16% to $1.20 trillion, while imports slid 11.2% to $1 trillion. The trade surplus was $196.07 last year, 34.2% less than in the previous year.
In Hong Kong, most of morning gains bolstered by strong Chinese trade figures and Beijing's approval of the launch of stock index futures were eroded due to speculative profit taking amid worries over China monetary tightening.
At the closing bell, the Hang Seng Index surged 114.77 points, or 0.51%, to 22,411.52, while the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, climbed up 83.94 points, or 0.64%, to 13,119.03.
In Australia, the shares surged on the first day of week with benchmark index All Ordinaries hit fresh 15-month closing high, on strong gains in market heavyweights, supported by firmer commodities prices after stronger Chinese trade figures and a surprise lift in job advertisements. At the closing bell, the benchmark S&P/ASX200 index spurted 38.6 points, or 0.79%, to 4,950.70, meanwhile the broader All Ordinaries surged 39 points, or 0.79%, to 4,981.20.
In New Zealand, equities ended in the negative terrain registering the first session in the red for the benchmark index in the year 2010. Early today, the NZX50 index was down 6.55 points to 3303.68, falling from its 15-month closing high of 3310.2 on Friday when the index gained 25.4 points. The domestic share market ended its five-day winning streak. At the closing bell, the NZX50 ended down 6.5 points or 0.20% to 3303.75. The NZX 15 lost 27.73 points or 0.46% to close at 6008.90.
In South Korea, stocks closed lower as auto and technology exporters lost ground, with the Korean won’s steep appreciation against the U.S. dollar stoking concerns about their profits overseas. Reversing earlier gains, the Korea Composite Stock Price Index (KOSPI) shed 1.14 points to 1,694.12.
In Singapore, the share market benchmark index added on the first day of a week, on tracking strong cues form Asian market and strong trade data from China and positive US index futures. Singapore small-caps stock outpaced blue chips, big-cap players. Investors favored to many of these penny stocks as volume strong, driven by lower valuations, hopes over companies seeking dual listing abroad. At the closing bell, the blue chip Straits Times Index was at 2,933.53, surged 10.77 points or 0.37%.
In Taiwan, stock market extended gains for second straight session, led by gains in UMC and Taishin Financial as their solid financial results raised investor hopes for a global economic recovery in 2010. Investors also cheered the news showing a green signal for China-based qualified domestic institutional investors (QDIIs) for the investment in Taiwan’s stock market. The benchmark Taiex share index extended gains over weekend, by finishing the first trading day of the week higher by 42.92 points or 0.52% at 8323.82.
In Philippines, the stock market closed flat largely due to the absence of fresh local leads. Its moderate upside, however, was due to investors’ aggressive buying of consumer issues. Investors reasoned that consumer and consumer-related stocks would benefit from a boost in consumer spending during this election year. However, investors are in a wait and watch position for further developments in order to make better decisions of which stocks to buy. At the final bell, the benchmark index PSEi escalated 0.33% or 10.17 points to 3,087.35, while the All the shares index increased 0.40% or 7.89 points to 1,944.95.
In India, losses in index heavyweight Reliance Industries (RIL) pulled the barometer index BSE Sensex sharply off the day's high. RIL lost ground after the company sold a large quantum of its treasury shares. Banking pivotals fell. But, IT, auto, realty and metal stocks gained. The BSE 30-share Sensex was down 13.58 points or 0.08% at 17,526.71. The S&P CNX Nifty was up 4.65 points or 0.09% at 5249.40.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1294.51 while stock markets in Indonesia’s Jakarta Composite index added 17.83 points ending the day higher at 2632.20.
In other regional market, European shares extended 2010’s gains on Monday, with miners boosted by more signs of strength in the Chinese economy while deal news helped companies to gain across a range of sectors. On a regional level, the U.K. FTSE 100 index rose 1% or 53.77 points to 5,588, the German DAX index climbed 0.8% or 47.16 points to 6,085 and the French CAC-40 index rose 1% or 37.40 points to 4.083.
Receives bids for 39.17 lakh shares
The initial public offer (IPO) of Infinite Computer Solutions (India) was undersubscribed on the first day of the opening of the issue today, 11 January 2010. The IPO got bids for 39.17 lakh shares by 16:00 IST, data on NSE showed. The company proposes to sell 97.77 lakh shares through the IPO, which excludes allotment to anchor investors.
The issue closes on 13 January 2010. The price band has been set at Rs 155 to Rs 165. At the top end of the price band, the company will raise about Rs 190 crore. The company is offering shares through a 100% book-building process.
Infinite Computer Solutions got a commitment of Rs 28.46 crore from nine anchor investors. The company finalised an allocation of 17.25 lakh shares to nine anchor investors at Rs 165 per share--at the upper price band of the IPO.
The IPO includes fresh issue of 57.33 lakh equity shares and an offer to sell 57.69 lakh equity shares by Whiterock Investments (Mauritius). The company intends to utilize the IPO proceeds for meeting capital expenditure, making acquisitions and repaying debt.
Infinite Computer Solutions (India) is mainly into software application development and maintenance but has diversified into other areas such as remote infrastructure management and research & development services.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/1/2010 524412 Aarey Drugs AMISHA DEVLOPERS LIMITED B 45000 46.20
11/1/2010 524412 Aarey Drugs PRAFULLA BEN AMRUTBHAI SONI B 43490 44.37
11/1/2010 524412 Aarey Drugs JIPAL PINESHKUMAR SHAH B 41930 43.80
11/1/2010 524412 Aarey Drugs BHAVINI VIJAYKUMAR SHAH B 40865 45.16
11/1/2010 524412 Aarey Drugs CHETAN KIRITBHAI MEHTA S 36012 45.49
11/1/2010 524412 Aarey Drugs UTSAV NITINBHAI SHAH S 35000 46.57
11/1/2010 520155 ABG Infra DEUTSCHE SECURITIES MAURITIUS LIMITED S 79042 171.14
11/1/2010 526955 ABL Biotech SAINATH HERBAL CARE MARKETING P.LTD B 50000 23.85
11/1/2010 526955 ABL Biotech SHILPA MILIND DESAI B 50000 23.46
11/1/2010 524091 Acrysil PROPERTIES SUNDESHA B 20000 135.60
11/1/2010 522273 Ahmedabad Steel GAURAV AROON PARIKH B 23000 20.66
11/1/2010 505216 Alfred Herbert NATIONAL INSURANCE CO LTD S 7225 170.19
11/1/2010 530889 Alka India JMP SECURITIES PVT LTD B 1290980 0.61
11/1/2010 524634 Alufluoride MILAN P. SHAH B 46936 27.10
11/1/2010 531881 Arvind Chem NEENA GYANESHWAR SHARMA B 106539 25.03
11/1/2010 531881 Arvind Chem NEENA GYANESHWAR SHARMA S 106539 25.08
11/1/2010 530355 Asian Oilfield HITESH SHASHIKANT JHAVERI B 70002 83.95
11/1/2010 530355 Asian Oilfield HITESH SHASHIKANT JHAVERI S 68255 83.67
11/1/2010 512109 Aviva Inds REAL MARKETING PVT LTD B 40249 30.90
11/1/2010 512109 Aviva Inds AMIT ARJUNDAS AGRAWAL S 40000 30.90
11/1/2010 505506 Axon Infotech SAI KANAKAMAHALAKSHMI FINANCE PVT LTD B 6671 22.15
11/1/2010 532380 Baba Arts GORDHAN PRABHUDAS TANWANI S 462850 12.17
11/1/2010 511607 Birla Shloka KSHITIJ PORTFOLIO PRIVATE LIMITED B 68231 56.05
11/1/2010 511607 Birla Shloka SARAH FAISAL HAWA S 49255 55.61
11/1/2010 505923 Ceekay Daikin OMEGA FINHOLD PVT. LTD. B 29349 106.39
11/1/2010 505923 Ceekay Daikin LIVE STAR MARKETING PVT LTD S 37000 107.90
11/1/2010 505052 Clutch Auto HITESH SHASHIKANT JHAVERI B 258792 70.77
11/1/2010 505052 Clutch Auto HITESH SHASHIKANT JHAVERI S 260537 70.72
11/1/2010 531216 Comfort Intech HEMANT MADHUSADAN SHETH B 1160000 17.80
11/1/2010 532941 Cords Cable DB (INTL) OWN TRADING B 63205 51.05
11/1/2010 532941 Cords Cable DB (INTL) OWN TRADING S 63205 50.83
11/1/2010 512068 Deccan Gold VIJAYKUMAR PATEL HIRAL S 322840 39.95
11/1/2010 531923 Dhampure Spec SAINATH HERBAL CARE MARKETING P.LTD B 40000 29.20
11/1/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 38926 26.18
11/1/2010 526783 Dr Agarwals BHARAT JAYANTILAL PATEL B 33225 71.09
11/1/2010 530337 Exelon Infra MADHU CHHAPARIA B 43834 59.91
11/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA B 133550 58.95
11/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA S 50000 59.40
11/1/2010 530337 Exelon Infra I K PROJECTS PRIVATE LIMITED S 50000 57.81
11/1/2010 530337 Exelon Infra MADHU CHHAPARIA S 43834 60.00
11/1/2010 530337 Exelon Infra KAMALA KANTA GUPTA S 49715 60.30
11/1/2010 532139 G Tech Info KAMLESH NAVINCHANDRA SHAH HUF B 1000000 4.32
11/1/2010 532139 G Tech Info AVISHKAR FILMS PVT LTD B 500000 4.32
11/1/2010 532139 G Tech Info SHIRIN MUNIR GAZI S 800000 4.32
11/1/2010 532139 G Tech Info MUNIR ABDULLATIF GAZI S 935000 4.32
11/1/2010 533048 GI ENGINERG SHRI PARASRAM HOLDING PVT LTD S 50000 25.95
11/1/2010 508918 Greycells Enter SAFE ENTERPRISES B 50000 71.36
11/1/2010 508918 Greycells Enter AVON SYNTHEICS LIMITED S 38365 72.08
11/1/2010 514386 Gujarat Cotex MAHENDRABHAI C. SHAH S 25000 8.87
11/1/2010 523277 GV Films JMP SECURITIES PVT LTD B 2831855 2.86
11/1/2010 523277 GV Films JMP SECURITIES PVT LTD S 1825921 2.79
11/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD B 23700 11.12
11/1/2010 511682 IFL Promoters CENTENARY SOFTWARE PVT LTD S 25300 11.15
11/1/2010 511682 IFL Promoters DMC INTERNATIONAL LIMITED S 16277 11.15
11/1/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 33299 11.13
11/1/2010 532679 Indiabulls Retl JM FINANCIAL SERVICES PVT LTD S 192197 34.11
11/1/2010 532326 Intense Tech GKK CAPITAL MARKET PVT LTD S 139000 11.42
11/1/2010 523467 Jai Mata Glass SAMURAI SECURITIES PVT LTD B 200000 2.65
11/1/2010 523467 Jai Mata Glass MAMTA SURENDRAKUMAR AGARWAL B 100000 2.63
11/1/2010 523467 Jai Mata Glass MADHURI ADITYA SINGH B 100000 2.63
11/1/2010 523467 Jai Mata Glass MEENADEVI SURENDRA KUAMRAGARWAL B 100000 2.63
11/1/2010 523467 Jai Mata Glass LIFECYCLE INFOTECH PRIVATE LIMITED B 100000 2.63
11/1/2010 523467 Jai Mata Glass ANSHU KAROL B 100000 2.63
11/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 1413892 2.63
11/1/2010 524826 Jupiter Biosc ASIT C MEHTA INVESTMENT INTERMEDIATES LTD B 128858 92.48
11/1/2010 524826 Jupiter Biosc ASIT C MEHTA INVESTMENT INTERMEDIATES LTD S 128858 91.79
11/1/2010 530955 Kailash Ficom FANCY INVESTRADE PVT LTD B 69500 72.31
11/1/2010 530955 Kailash Ficom SURENDRA SINGH BENGANI S 90490 68.00
11/1/2010 530255 KAY Power KAUSHALYA GARG B 102100 14.04
11/1/2010 530255 KAY Power SUNDER DASS AGARWAL B 61480 13.78
11/1/2010 530255 KAY Power KAUSHALYA GARG S 174650 12.89
11/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. S 60250 13.80
11/1/2010 530255 KAY Power GIRRAJ PRASAD GUPTA S 64000 14.00
11/1/2010 505190 Kinetic Motor TRANSGLOBAL SECURITIES LTD. B 136282 33.58
11/1/2010 505190 Kinetic Motor TRANSGLOBAL SECURITIES LTD. S 136282 33.59
11/1/2010 526379 Konkan Tyres NAGABHUSHANA RAO GADDE S 20475 7.58
11/1/2010 524000 Magma Fin NAMOKAR COMMERCIAL PVT LTD B 150000 205.06
11/1/2010 524000 Magma Fin CITI GROUP GLOBAL MARKET MAURITIUS PVT LTD B 94929 195.49
11/1/2010 524000 Magma Fin NAMOKAR COMMERCIAL PVT LTD S 110324 185.16
11/1/2010 531515 Mahan Inds JAYDEEP MANILAL SHAH B 50000 34.95
11/1/2010 531515 Mahan Inds CHETAN MANSUKHLAL SHAH B 45000 34.95
11/1/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 175000 34.95
11/1/2010 531515 Mahan Inds CHANDRAKANT B SHAH S 37462 34.95
11/1/2010 533152 MBL INFRA GENUINE STOCK BROKERS PVT. LTD. B 175522 206.47
11/1/2010 533152 MBL INFRA SMART EQUITY BROKERS PRIVATE LIMITED B 235162 206.44
11/1/2010 533152 MBL INFRA MARWADI SHARES AND FINANCE LTD. B 185662 207.88
11/1/2010 533152 MBL INFRA OPG SECURITIES P LTD B 642362 206.86
11/1/2010 533152 MBL INFRA R M SHARES TRADING PRIVATE LIMITED B 123939 206.17
11/1/2010 533152 MBL INFRA GENUINE STOCK BROKERS PVT. LTD. S 175522 206.19
11/1/2010 533152 MBL INFRA SMART EQUITY BROKERS PRIVATE LIMITED S 235162 206.87
11/1/2010 533152 MBL INFRA MARWADI SHARES AND FINANCE LTD. S 185662 207.30
11/1/2010 533152 MBL INFRA OPG SECURITIES P LTD S 642362 207.15
11/1/2010 533152 MBL INFRA R M SHARES TRADING PRIVATE LIMITED S 123939 205.86
11/1/2010 532850 MIC Electronics RESHMA NAYANKUMAR SHAH B 652667 53.36
11/1/2010 532850 MIC Electronics PREMLATA RAMESH SARAOGI B 705479 53.20
11/1/2010 532850 MIC Electronics RESHMA NAYANKUMAR SHAH S 709101 53.26
11/1/2010 511551 Networth Stock IPRO FUNDS LIMITED B 544864 54.45
11/1/2010 511551 Networth Stock ALBULA INVESTMENT FUND LTD S 544864 54.45
11/1/2010 531791 Novagold Petro PRERAK PAWANKUMAR NEMANI B 30751 3.69
11/1/2010 590090 Octant Inter INDIUM HOME CARE PRIVATE LTD S 285951 12.11
11/1/2010 590090 Octant Inter HANDFUL INVESTRADE PVT LTD S 245000 11.92
11/1/2010 590090 Octant Inter ABSOLUTE LEASING & FINANCE PVT LTD S 277500 12.17
11/1/2010 531496 Omkar Overseas RONIT SATYANARAIN AGARWAL S 25000 52.90
11/1/2010 531496 Omkar Overseas SUBHASHCHANDRA OMKARMAL AGARWAL S 25000 52.90
11/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 15663 37.50
11/1/2010 526747 PG Foils BAHAR MERCANTILE LTD B 45000 50.32
11/1/2010 523333 Polar Pharma ALOK BANSAL S 80930 3.30
11/1/2010 506605 Polychem BINDU SHARMA B 2500 182.50
11/1/2010 506605 Polychem KAMAL SINGH B 2520 189.84
11/1/2010 506605 Polychem KAMAL SINGH S 2520 182.50
11/1/2010 506605 Polychem BINDU SHARMA S 2500 189.80
11/1/2010 532387 Pritish Nandy ABHISHEK VIJAYKUMAR SHAH B 754582 37.41
11/1/2010 532387 Pritish Nandy AAP INVESTMENTS B 163406 37.58
11/1/2010 532387 Pritish Nandy ABHISHEK VIJAYKUMAR SHAH S 754582 37.54
11/1/2010 532387 Pritish Nandy AAP INVESTMENTS S 113406 37.60
11/1/2010 532692 Radha Madhav JMP SECURITIES PVT LTD B 234864 22.85
11/1/2010 502587 Rama Pulp INDRA KUMAR DAGA B 40000 37.21
11/1/2010 502587 Rama Pulp SOALLI JAINUDDIN SHAIKH B 42500 37.17
11/1/2010 502587 Rama Pulp DILIP SHANTILAL KANABAR B 48000 36.93
11/1/2010 502587 Rama Pulp RAJAN SAILESKUMAR LAKHANI B 47000 37.50
11/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 88479 37.53
11/1/2010 502587 Rama Pulp RASHMI RAMESHCHANDRA GANDHI B 42500 37.22
11/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 221948 37.20
11/1/2010 502587 Rama Pulp RASHMI RAMESHCHANDRA GANDHI S 42500 37.19
11/1/2010 502587 Rama Pulp INDRA KUMAR DAGA S 40000 37.17
11/1/2010 502587 Rama Pulp SOALLI JAINUDDIN SHAIKH S 42500 37.22
11/1/2010 502587 Rama Pulp PRABHA FARMS PVT LTD S 107470 36.52
11/1/2010 590077 Ranklin Sol R O BART B 26367 53.06
11/1/2010 530271 Rich Capital CHETAN DOGRA S 48000 80.23
11/1/2010 533083 RISHABHDEV MAHESH MEETAL B 221705 16.51
11/1/2010 533083 RISHABHDEV MAHESH MEETAL S 204766 16.41
11/1/2010 533083 RISHABHDEV KII LTD S 700000 16.35
11/1/2010 508954 Sanjay Leasing ADWAIT INFRASTRUCTURES PRIVATE LIMITED S 2500 38.05
11/1/2010 505141 Scooters India AMOL RAMANLAL ZAVERI B 10000 33.52
11/1/2010 532886 SEL Mfg Company NIKON FINLEASE PVT.LTD B 121709 94.60
11/1/2010 532886 SEL Mfg Company SMART EQUITY BROKERS PRIVATE LIMITED B 103638 97.22
11/1/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. B 190339 95.74
11/1/2010 532886 SEL Mfg Company MATRIX EQUITRADE PVT. LTD. B 89680 96.83
11/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD B 184956 97.43
11/1/2010 532886 SEL Mfg Company NIKON FINLEASE PVT.LTD S 121709 94.55
11/1/2010 532886 SEL Mfg Company SMART EQUITY BROKERS PRIVATE LIMITED S 103638 97.30
11/1/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. S 187339 95.52
11/1/2010 532886 SEL Mfg Company MATRIX EQUITRADE PVT. LTD. S 89680 96.90
11/1/2010 532886 SEL Mfg Company OPG SECURITIES P LTD S 184956 97.39
11/1/2010 520086 Sical Logistics SMART EQUITY BROKERS PRIVATE LIMITED B 210179 103.23
11/1/2010 520086 Sical Logistics SMART EQUITY BROKERS PRIVATE LIMITED S 210179 103.55
11/1/2010 512413 Spectacle Inds HEMANT MADHUSADAN SHETH B 373000 80.25
11/1/2010 512413 Spectacle Inds BHARAT G VAGHELA S 270630 80.13
11/1/2010 530883 Super Crop S.R.GUPTA HUF S 28865 15.31
11/1/2010 526133 Supertex Inds PRADIPBHAI RAJNIKANT RAITHATHA S 500000 4.18
11/1/2010 530595 Telecanor Glob NISHANT RAJENDRAKUMAR SHAH B 30000 23.31
11/1/2010 533121 THINKSOFT GENUINE STOCK BROKERS PVT. LTD. B 60567 402.86
11/1/2010 533121 THINKSOFT SMART EQUITY BROKERS PRIVATE LIMITED B 117472 397.09
11/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. B 81716 397.80
11/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 196961 394.50
11/1/2010 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. B 132794 393.84
11/1/2010 533121 THINKSOFT CHIMANLAL POPATLAL MATALIA B 101306 391.93
11/1/2010 533121 THINKSOFT CHANDARANA INTERMIDIARY BROKERS PVT LTD B 59420 394.50
11/1/2010 533121 THINKSOFT MARWADI SHARES AND FINANCE LTD. B 50590 401.16
11/1/2010 533121 THINKSOFT EUREKA STOCK & SHARE BROKING SERVICES LTD B 57452 391.86
11/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 315054 400.16
11/1/2010 533121 THINKSOFT JMP SECURITIES PVT LTD B 57854 405.27
11/1/2010 533121 THINKSOFT GENUINE STOCK BROKERS PVT. LTD. S 60567 403.00
11/1/2010 533121 THINKSOFT SMART EQUITY BROKERS PRIVATE LIMITED S 117472 397.53
11/1/2010 533121 THINKSOFT TRANSGLOBAL SECURITIES LTD. S 81716 397.64
11/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 197061 394.44
11/1/2010 533121 THINKSOFT MATRIX EQUITRADE PVT. LTD. S 132794 394.11
11/1/2010 533121 THINKSOFT CHIMANLAL POPATLAL MATALIA S 101306 391.73
11/1/2010 533121 THINKSOFT CHANDARANA INTERMIDIARY BROKERS PVT LTD S 59420 394.50
11/1/2010 533121 THINKSOFT MARWADI SHARES AND FINANCE LTD. S 50590 400.96
11/1/2010 533121 THINKSOFT EUREKA STOCK & SHARE BROKING SERVICES LTD S 57452 392.16
11/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 315054 400.50
11/1/2010 533121 THINKSOFT JMP SECURITIES PVT LTD S 58554 390.09
11/1/2010 517407 Toyama Elect SHETH INPEX PV.LTD S 22015 15.46
11/1/2010 530459 Valson Inds ASHOK KUMAR BILGAIYAN B 32177 36.58
11/1/2010 530459 Valson Inds ROHNILBORADIA B 25411 36.67
11/1/2010 530459 Valson Inds ASHOK KUMAR BILGAIYAN S 22176 37.21
11/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 34857 390.24
11/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 44275 390.22
11/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 39335 390.66
11/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 22500 389.84
11/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 23511 390.36
11/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 37345 390.37
11/1/2010 531217 Western India Ship AAR FIN BROKERS PRIVATE LIMITED S 840000 12.84
11/1/2010 514470 Winsome Tex SANJAY KUMAR PATWARI HUF B 800000 4.86
11/1/2010 514470 Winsome Tex SANJAY KUMAR PATWARI B 1000000 4.86
11/1/2010 514470 Winsome Tex SAJJAN KUMAR PATWARI B 1000000 4.88
11/1/2010 514470 Winsome Tex KAILASHPATI VINIMAY PRIVATE LIMITED S 2800000 4.87
11/1/2010 530091 Zyden Gentec SHRENI SHARES PRIVATE LTD B 250000 2.91
11/1/2010 530091 Zyden Gentec DEEPAK REAL ESTATEDEVE. I. P.L S 450000 2.91
* B - Buy, S - Sell
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-Jan-10,CLUTCHAUTO,Clutch Auto Limited,BHAIRUJEE STOCK FUND,BUY,100000,70.77,-
11-Jan-10,CLUTCHAUTO,Clutch Auto Limited,BP FINTRADE PRIVATE LIMITED,BUY,109975,70.79,-
11-Jan-10,CORDSCABLE,Cords Cable Industries Li,DB (INTERNATIONAL) STOCK BROKERS LTD.,BUY,85731,50.62,-
11-Jan-10,COREPROTEC,Core Projects and Technol,SHARAD SHAH.,BUY,475000,203.55,-
11-Jan-10,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,1033212,5.74,-
11-Jan-10,GISOLUTION,GI Engineering Solutions,SHRI PARASRAM HOLDINGS PVT. LTD.,BUY,19502,25.28,-
11-Jan-10,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,7999921,22.96,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,AMBIT SECURITIES BROKING PVT. LTD.,BUY,108074,33.25,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,BHARAT SECURITIES PVT LTD,BUY,119701,33.28,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,151296,33.5,-
11-Jan-10,MAGMA,Magma Fincorp Limited,CITI GROUP GLOBAL MARKET MAURITIUS PVT LTD,BUY,655071,184.95,-
11-Jan-10,MAGMA,Magma Fincorp Limited,NAMOKAR COMMERCIAL PVT LTD.,BUY,25000,201.82,-
11-Jan-10,MAGMA,Magma Fincorp Limited,NILKANTH DEALERS PRIVATE LIMITED,BUY,80000,185.15,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,ADONIS NIRYAT PRIVATE LIMITED,BUY,120000,205.64,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,DEEPAK SHANTILAL CHHEDA,BUY,93870,205.95,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,171450,206.2,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,114489,207.93,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,LAIBA INTERNATIONAL PRIVATE LIMITED,BUY,100000,205.24,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,141297,208.24,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MANSUKH SECURITIES & FINANCE LIMITED,BUY,92223,205.89,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,205664,207.08,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,NEPTUNE FINCOT PVT LTD,BUY,116541,207.63,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,R APPALA RAJU,BUY,126000,207.16,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,R.M. SHARE TRADING PVT LTD,BUY,141146,205.89,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,VIJETA BROKING INDIA PRIVATE LIMITED,BUY,101754,206.19,-
11-Jan-10,MIC,MIC Electronics Limited,SHRADDHA NILESH MEHTA,BUY,781516,52.51,-
11-Jan-10,RKFORGE,Ramkrishna Forgings Ltd,AKG FINVEST LTD,BUY,110000,112.82,-
11-Jan-10,RSYSTEMS,R Systems International L,NARESH KUMAR HUF,BUY,71944,120.52,-
11-Jan-10,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,BUY,163672,95.01,-
11-Jan-10,SELMCL,SEL Manufacturing Company,OM INVESTMENTS,BUY,106051,97.11,-
11-Jan-10,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,BUY,186960,95.63,-
11-Jan-10,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED,BUY,200000,118,-
11-Jan-10,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,SRG INFOTECH LTD,BUY,7762,119.62,-
11-Jan-10,SICAL,Sical Logistics Limited,KALPTARU INVESTMENTS PRIVATE LIMITED,BUY,285618,107.43,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,207658,394.74,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,BUY,395229,396.5,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,CHIMANLAL P. MATALIA,BUY,95833,390.79,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,DINESH MUNJAL,BUY,79027,400.69,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,125581,398.83,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MANAN P DALAL,BUY,68873,393.32,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,125481,400.25,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,72426,399.76,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,77607,404.19,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,OM INVESTMENTS,BUY,69959,398.07,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,PATEL PRAKASHBHAI NARSINHBHAI,BUY,97350,385.65,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,BUY,100587,373.8,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,TECHNO BROKING & FINANCIAL SERVICES PVT LTD,BUY,55077,404.63,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,89774,398.35,-
11-Jan-10,AUSTRAL,Austral Coke & Projects L,RATANLALBRIJLALTAMAKHUWALA,SELL,1825000,10.01,-
11-Jan-10,CLUTCHAUTO,Clutch Auto Limited,BP FINTRADE PRIVATE LIMITED,SELL,110070,70.37,-
11-Jan-10,CORDSCABLE,Cords Cable Industries Li,DB (INTERNATIONAL) STOCK BROKERS LTD.,SELL,85731,50.85,-
11-Jan-10,EVINIX,Evinix Accessories Limite,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,1033212,5.75,-
11-Jan-10,GISOLUTION,GI Engineering Solutions,SHRI PARASRAM HOLDINGS PVT. LTD.,SELL,48017,25.95,-
11-Jan-10,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,7588491,22.94,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,AMBIT SECURITIES BROKING PVT. LTD.,SELL,108074,33.29,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,BHARAT SECURITIES PVT LTD,SELL,119701,33.26,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,Copthall Mauritius Investment Ltd,SELL,162413,33.11,-
11-Jan-10,KINETICMOT,Kinetic Motor Company Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,151296,33.56,-
11-Jan-10,MAGMA,Magma Fincorp Limited,CPIM STRUCTURED CREDIT FUND A 1000 LIMITED FDI,SELL,194366,181.42,-
11-Jan-10,MAGMA,Magma Fincorp Limited,CPIM STRUCTURED CREDIT FUND A 1500 LIMITED FDI,SELL,146636,181,-
11-Jan-10,MAGMA,Magma Fincorp Limited,CPIM STRUCTURED CREDIT FUND A 20 LIMITED FDI,SELL,158998,181,-
11-Jan-10,MAGMA,Magma Fincorp Limited,NAMOKAR COMMERCIAL PVT LTD.,SELL,150000,185.15,-
11-Jan-10,MAGMA,Magma Fincorp Limited,NILKANTH DEALERS PRIVATE LIMITED,SELL,152953,194.68,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,DEEPAK SHANTILAL CHHEDA,SELL,93870,206.05,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,171450,206.85,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,114489,208.01,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,141297,208.43,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MANSUKH SECURITIES & FINANCE LIMITED,SELL,92223,207.36,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,205664,207.79,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,NEPTUNE FINCOT PVT LTD,SELL,116541,207.95,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,R APPALA RAJU,SELL,126000,206.27,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,R.M. SHARE TRADING PVT LTD,SELL,141146,206.4,-
11-Jan-10,MBLINFRA,MBL Infrastructures Ltd,VIJETA BROKING INDIA PRIVATE LIMITED,SELL,101754,207.29,-
11-Jan-10,MIC,MIC Electronics Limited,SHRADDHA NILESH MEHTA,SELL,781516,53.24,-
11-Jan-10,MSKPROJ,MSK Projects (India) Limi,ACME PRIVATE LIMITED,SELL,140003,115.53,-
11-Jan-10,RELIANCE,Reliance Industries Ltd,VISHNUBHAI B HARIBHAKTI ON BEHALF OF PETROLEUM TRUST,SELL,33000000,1051.73,-
11-Jan-10,RKFORGE,Ramkrishna Forgings Ltd,UNO METALS LTD,SELL,110000,112.82,-
11-Jan-10,RSYSTEMS,R Systems International L,NARESH KUMAR HUF,SELL,112218,119.87,-
11-Jan-10,SELMCL,SEL Manufacturing Company,NIKON FINLEASE PVT. LTD,SELL,164454,95.11,-
11-Jan-10,SELMCL,SEL Manufacturing Company,OM INVESTMENTS,SELL,106051,97.19,-
11-Jan-10,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,SELL,186960,95.97,-
11-Jan-10,SHLAKSHMI,Shri Lakshmi Cotsyn Limit,SRG INFOTECH LTD,SELL,200000,118,-
11-Jan-10,SICAL,Sical Logistics Limited,KALPTARU INVESTMENTS PRIVATE LIMITED,SELL,285618,107.98,-
11-Jan-10,STOREONE,Store One Retail Ind Ltd,JM FINANCIAL SERVICES PRIVATE LIMITED,SELL,170000,34.09,-
11-Jan-10,SUPREMEINF,Supreme Infrastructure In,PRU ASSET MGT LTD A/C INT OPP PORT MGT LTD,SELL,73389,191.09,-
11-Jan-10,SUPREMEINF,Supreme Infrastructure In,PRUDENTIAL ICICI ASSET MANAGEMENT CO LTD A/C PMS,SELL,191597,194.04,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,207658,395.09,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,SELL,393430,395.54,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,CHIMANLAL P. MATALIA,SELL,95833,391.15,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,DINESH MUNJAL,SELL,79027,400.92,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,125581,399.37,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MANAN P DALAL,SELL,68873,393.66,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,125481,400.54,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,72426,399.94,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,61089,401.57,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,OM INVESTMENTS,SELL,69959,398.2,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,PATEL PRAKASHBHAI NARSINHBHAI,SELL,97350,403.06,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,SELL,100587,400.29,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,TECHNO BROKING & FINANCIAL SERVICES PVT LTD,SELL,5077,400.79,-
11-Jan-10,THINKSOFT,Thinksoft Global Ser Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,89774,399.02,-
Today's major news
Mahindra & Mahindra to roll out electric Maxximo by October; the stock rises 0.60%
Maruti Suzuki India to bring new variants of Alto, Wagon R and Swift; the stock jumps 1.49%
Reliance Industries sells another 3.3 crore treasury shares; the stock declines by 1.85%
Suzlon Energy receives 21MW repeat order from Gujarat Alkalies: the stock surges 2.38%
JK Tyres plans capital expenditure; the stock shots up 3.07%
Click here for more stories
MBL Infrastructure lists on BSE at Rs190. The day’s low was Rs190 and the day’s high was Rs205.75. The stock closed at Rs205.75, up 14.31% with a volume of 52,94,565 shares on BSE.
European stocks opened higher and hit 15-month high in morning trades, as energy stocks and mining stock gained. At the time of writing this report. FTSE 100 was trading 54 points higher at 5588.
All Asian indices except Kospi and BSE 30 (Sensex) closed higher. SGX Nifty closed 1.50 points higher.
US stock futures opened higher, as investors keep an eye on quarterly results of Aluminmim major Alcoa to be announced later in the day.
Despite positive cues from global markets, Sensex closed the day 14 points or 0.08% lower. The bellwether opened 184 points higher and soon touched the day’s high of 17776, but the news of sale of treasury shares by Reliance Industries and selling in oil & gas stocks pushed it to the day’s low of 17501. The index closed the day 14 points lower. Nifty ended the session at 5249, up by 5 points.
Advancing stocks outnumbered declining stocks by 2.5:1. Of the 2,997 stocks traded on BSE, 2,116 stocks advanced, whereas 832 stocks declined. Fourty nine stocks closed unchanged.
Sectoral & stock screening
All the 13 sectoral indices at BSE were up for the day bar BSE Oil & Gas that fell by 1.10%. Realty sector topped the chart of sector indices with the BSE Realty up by 2.57%, followed by BSE TECk that surged 1.08%.
On stocks’ front, the top three gaining stocks were GE Shipping (up by 6.62%), MTNL (up by 6.10%) and Gujarat NRE Coke (up by 5.76%). The top three losing stocks were PTC India (down by 3.03%), IFCI (down by 2.26%) and Reliance Industries (down by 1.85%).
Realty giant Unitech was the most actively traded share with over 1.27 crore shares changing hands on the BSE followed by industrial finance company IFCI (0.86 crore shares), wind turbine maker Suzlon Energy (0.83 crore shares), Ispat Industries (0.56 crore shares) and ADAG group company, Reliance Natural Resources (0.38 crore shares).
The key benchmark indices ended flat as profit booking in frontline stocks eroded early gains. Nevertheless, the broad market showed strength. Barring the Oil & Gas index, all the other sectoral indices on BSE were in green. The BSE 30-share Sensex fell 13.58 points or 0.08%, off close to 249.86 points from the day's high and up close to 25.92 points from the day's low.
The market pared gains soon after an early surge triggered by firm Asian stocks and strong trade data from China for December 2009. The market pared gains in mid-morning trade after moving in a narrow range in morning trade. The market further trimmed gains to hit fresh intrday low in early afternoon trade. The market lost further ground in afternoon trade. The market slipped into the red in mid-afternoon trade. The market cut losses in late trade
The government will announce industrial output data for the month of November 2009 tomorrow, 12 January 2010. Industrial production recorded a robust 10.3% growth in October 2009.
India's December 2009 export figures will be positive, trade minister Anand Sharma said on Monday. Sharma told a banking summit that higher December 2009 exports are due to a low base. India's exports rose an annual 18.2 % in November 2009 to $13.2 billion, the first rise after 13 months of annual decline. Sharma also said that the government would spend $1.5 trillion on infrastructure over the next 10 years. Food prices are likely to come down due to good winter crop prospects and there was no need to import wheat and rice, Sharma said on Monday.
The finance ministry backs administrative steps to tame inflation and wants hike in policy rates only if food inflation escalates into general inflation, a media report said on Monday quoting Finance Secretary Ashok Chawla. The comments were in a proposal submitted to the Cabinet Committee on Prices, which is likely to meet this week, the report said. In order to augment supplies, all import duties may be suspended for the time being, may be till the end of the current financial year, the report quoted Chawla as saying. The finance secretary identified rice, wheat, pulses, potatoes, onion, fruits, milk, mineral oils, sugar and oil cakes as the "commodities of concern," the report added.
The government will present its annual budget in Parliament on 26 February 2010 and was aiming at enacting legislation in the second half of this year for introducing a new Goods and Services Tax (GST), finance minister Pranab Mukherjee said on Saturday 9 January 2010.
Mukherjee also said he is hopeful growth rate of Asia's third largest economy could touch 8% in the fiscal year to March 2010, faster than 6.7% in the previous year. With faster growth in output in recent months and rise in inflation, the government is widely expected to withdraw some of its fiscal stimulus in the forthcoming budget.
The economy is likely to return to an annual growth rate of 9% by the fiscal year ending in March 2012, Montek Singh Ahluwalia, deputy chairman of the Planning Commission said on Saturday. Prime Minister Manmohan Singh on Friday 8 January 2010 said he was optimistic that India, which along with China is leading the drive out of a global recession, could return to annual growth of 9-10% in a few years time.
Industry bodies have urged the government to extend fiscal stimulus by six months this year, but a 16-year high fiscal deficit of 6.8% of gross domestic product estimated for 2009/10, has left little room for extending tax concessions. Mukherjee said it would take 7-8 months for the government to bring in legislations for introducing GST, which was earlier scheduled on April 2010.
The government expects the proposed tax reform along with higher growth in the economy leading to more revenues and stake sales in state-run firms, could help lower the fiscal deficit in 2010/11 to an estimated at 5.5%. The government aims to sell shares of about 60 state-run firms in the coming years, with offers for power utility NTPC, miner NMDC, Rural Electrification Corp and Satluj Jal Vidyut expected by end-March 2010.
European shares rose on Monday, with energy companies and miners among the top performers, after strong trading data from China boosted sentiment. The key benchmark indices in France, Germany and UK rose by between 0.81% to 0.97%.
Asian stocks rose to a 17-month high on Monday as a strong rebound in China's exports raised optimism about the region's economic outlook as the dollar suffered following weak US jobs data. The key benchmark indices in Hong Kong, Indonesia, Singapore and Taiwan rose by between 0.37% to 0.68%. But, South Korea's KOSPI reversed early gains, falling 0.07%. Japanese markets were closed for Coming of Age Day.
In China, the Shanghai Composite index rose 0.52%, led by brokerages and banks, after the government approved index futures, fanning speculation the new derivatives will boost trading volumes. China's exports climbed 17.7% in December 2009 from a year earlier, the first increase in 14 months, and imports jumped 55.9 %, the customs bureau said over the weekend.
Trading in US index futures indicated Dow could gain 48 points at the opening bell on Monday, 11 January 2010.
US stocks closed higher on Friday as December's unemployment report, despite showing job losses, was seen supportive of a slow recovery. The Dow Jones Industrial Average was up 11.33 points, or 0.11%, to 10,618.19. The Nasdaq was up 17.12 points, or 0.74%, to 2317.17 and the S&P 500 was up 3.29 points, or 0.29% to 1144.98.
St. Louis Federal Reserve President James Bullard said at a conference in Shanghai on Monday that US interest rates may remain low for "quite some time," easing concerns that the central bank could hike interest rates sooner than expected.
US interest rate futures, after a one-day hiatus, continued their trek toward very low short-term rates Friday as data showed that an anemic jobs market stands in the way of a robust economic recovery. The data revealed 85,000 jobs were lost during December 2009, much larger than an expected decline of 10,000. The government, meanwhile, revised figures to show that 4,000 jobs were created in November 2009, having initially estimated a loss of 11,000 payrolls during that month. The unemployment rate remained persistently high, at 10.0% in December 2009 versus economists' estimate of a 10.1% rate.
At Friday's settlement, the July 2010 fed-funds futures contract priced in only a 20% chance for the Federal Open Market Committee (FOMC) to lift the Fed funds rate to 0.5% at its late June 2010 policy meeting. That's down from a 30% chance just before the jobs data came in. On 31 December 2009, the final trading day of 2009, July 2010 fed-funds had priced in a 78% chance for a 0.5% rate. At the time, there was more optimism about an economic recovery, and increased expectations that the FOMC would shift away from its easy money policies to curb inflation.
The Fed enacted a series of emergency measures to rescue the economy, including a move to reduce the funds rate to a lowest-ever range of 0% to 0.25%. The Fed has held the rate in that range since December 2008.
Closer home, the BSE 30-share Sensex fell 13.58 points or 0.08% at 17,526.71. The barometer index lost 39.50 points at the day's low of 17500.79 in mid-afternoon trade. It gained 236.28 points at the day's high of 17,776.57 in early trade. The barometer index opened with an upward gap of 184.30 points at 17,724.59.
The S&P CNX Nifty rose 4.65 points or 0.09% at 5249.40.
The BSE Mid-Cap index rose 0.90% and the BSE Small-Cap index rose 1.80%. Both the indices outperformed the Sensex.
The market breadth, indicating the overall health of the market was strong. On BSE, 2116 shares advanced as compared with 832 that declined. A total of 49 shares remained unchanged.
BSE clocked a turnover of Rs 5981 crore, lower than Rs 6322.38 crore on Friday 8 January 2010.
The BSE Realty index (up 2.57%), the BSE Auto index (up 0.92%), the BSE IT index (up 0.88%), the BSE PSU index (up 0.83%), the BSE Metal index (up 0.65%), the BSE Power index (up 0.35%), the BSE Capital Goods index (up 0.32%), the BSE Consumer Durables index (up 0.16%), the banking sector index the Bankex (up 0.15%), the BSE FMCG Index (up 0.10%), and the BSE Health Care index (up 0.01%), outperformed the Sensex.
The BSE Oil & Gas index was the only sectoral index that underperformed the Sensex, falling 1.10%.
Among the 30-member Sensex pack, 13 rose while rest fell.
Index heavyweight Reliance Industries (RIL) fell 1.85% after the firm raised $763 million through a block sale of 3.3 crore shares on Monday. RIL raised $763 million through a block sale of 3.3 crore shares on Monday, the country head of UBS Manisha Girotra said on Monday. Girotra also said the share sale at Rs 1050 each would be the last of block trades by the company for a while. UBS was the sole arranger for the trade.
Reliance, which is bidding for bankrupt LyondellBasell Industries, had previously sold treasury shares to state-owned insurer Life Insurance Corp of India raising $577 million last week. As per reports last week, Reliance had sweetened its offer to buy a controlling stake that valued LyondellBasell at $13.5 billion.
Banking stocks fell on profit taking. India's largest private sector bank by net profit ICICI Bank fell 0.55% as its ADR fell 2.07% on Friday.
India's largest bank by net profit and branch network State Bank of India fell 0.85%. Non-performing loans (NPAs) in the small and medium enterprise sector (SME) are on the rise, chairman O.P Bhatt said on Monday. The state-run bank paid advance tax of Rs 1795 crore versus Rs 1700 crore.
India's second largest private sector bank by net profit HDFC Bank fell 0.38% even after its ADR rose 0.3% on Friday.
Software pivotals rose ahead of Infosys' Q3 December 2009 results on Tuesday, 12 January 2010. Infosys rose 0.98%. Its ADR rose 0.26% on Friday
Analysts expect weak performance from Infosys in Q3 December 2009 due to a firm rupee and hike in employee salaries. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports. Nevertheless, a favourable cross-currency movement will to some extent offset the impact of firm rupee and hike in salary bill. A number of analysts expect Infosys to revise upwards its guidance for the year ending March 2010 amid an improved global business environment. However, a section of the market feels that an adverse cross-currency movement will mean a muted guidance from Infosys for Q4 March 2010.
A total of seven brokerages expect a between 0.79% to 8.65% fall in Infosys' Q3 consolidated net profit as per Indian accounting standards at between Rs 1406.80 crore to Rs 1527.70 crore in Q3 December 2009 over Q2 September 2009. They expect a between 1.29% fall to a rise of 0.37% in revenue at between Rs 5512.90 crore to Rs 5606.10 crore in Q3 December 2009 over Q2 September 2009. It may be recalled that Infosys had raised salaries in October 2009.
India's largest software services exporter TCS rose 1.96%. But India's third largest software services exporter Wipro fell 1.03% even as its ADR rose 0.86% on Friday.
The rupee rose to its highest level in more than 15 months on Monday boosted by the dollar's fall against major currencies and tracking gains in local shares which raised hopes for capital inflows. The partially convertible rupee was at 45.32/33 per dollar, off the day's high of 45.2850, its strongest since 22 September 2008 and above its Friday's close of 45.75/76.
Rate sensitive realty stocks rose for the second day in a row after a foreign brokerage house raised its outlook on the realty sector citing a potential recovery in the office property market and a steady growth in key residential markets. India's largest realty player by market capitalization DLF rose 2.18% after gaining 4.26% on Friday. On 16 December 2009, the company's board approved merger of its commercial realty arm DLF Assets (DAL) with itself, a move aimed at repaying some of DAL's debt.
Among other realty stocks, Omaxe, and Indiabulls Real Estate rose 1.56% and 3.01%, respectively.
Delhi-based real estate developer Unitech rose 4.39% after the company said it booked sales worth Rs 5550 crore between 25 March and the end of 2009.
Metal stocks rose as metals prices rose on stronger-than-expected Chinese imports data released on Sunday. National Aluminium Company, JSW Steel, Jindal Saw, Steel Authority of India, Hindustan Zinc, rose by between 0.91% to 7.86%.
Tata Steel, the world's eighth-largest steelmaker fell 0.28%. The company said on 5 January 2010 sales from its Indian operations rose 73% in December 2009 to 636,000 tonnes from a year earlier. The Indian operations account for about a quarter of the group's total annual global capacity of 30 million tonnes, which includes unit Corus, Europe's second-largest steelmaker.
Auto stocks rose on expectations of strong Q3 December 2009 results. India's largest car maker by sales Maruti Suzuki rose 1.49%. Maruti Suzuki reportedly plans to bring out refreshed variants of its best-selling cars Alto, WagonR and Swift that may be cheaper than the existing models. The company said on Thursday, 7 January 2010 it had priced newly launched five-seater multipurpose car Eeco at Rs 2,59,000 as competition for low-cost vehicles heats up. Maruti Suzuki's managing director and chief executive officer, Shinzo Nakanishi was quoted by the media as saying on 5 January 2010 that the company will see flat to lower exports next year because of the scrappage of incentives by Europe. He also said there would be lower offtake from Nissan for exports as a result of the removal of incentives.
Nakanishi said the company aims to keep operating margins at 10% in fiscal year 2009/10 but profitability will be impacted by a rise in raw material prices and a rise in the yen.
Maruti Suzuki India reported 50.6% increase in total vehicle sales to 84,804 units in December 2009 over December 2008. Domestic sales rose 36.5% to 71,000 units, while exports surged 223.7% to 13,804 units.
India's largest motorcycle maker by sales Hero Honda Motors rose 1.69%. Hero Honda will comfortably exceed its fiscal 2009/10 sales target of 40 lakh units, its managing director Pawan Munjal said to media on 7 January 2010. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
India's largest tractor marker by sales Mahindra & Mahindra (M&M) rose 0.60% on bargain hunting after last two days fall. M&M marked its entry into the heavy commercial vehicle (HCV) segment with its unveiling of 25 and 31 tonne trucks with its US-based joint venture partner Navistar Inc.
Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.
TVS Motors rose 11.31% extending Friday's gains. Sales rose 34% to 119,701 units in December 2009 over December 2008.
Bajaj Auto rose 0.84% in volatile trade ahead of its Q3 December 2009 result on Tuesday, 12 January 2010. Bajaj Auto is seen reporting strong Q3 December 2009 results due to low base effect as sales in the year-ago period i.e. December 2008 were adversely affected by the global financial crisis. Increase in input costs will offset operating leverage arising from higher volumes, according to analysts.
A total of four brokerages expect a between 160.9% to 191% growth in Bajaj Auto's net profit at between Rs 428.60 crore to Rs 477.90 crore in Q3 December 2009 over Q3 December 2008.
India's top truck maker by sales Tata Motors fell 0.10% reversing early gains. Tata Motors has raised prices of some truck and bus models in January 2010 by about 1%. The company expects commercial vehicle sales to remain strong in the next 12 months. The company's chairman Ratan Tata said on 5 January 2010 that the company may consider launching its ultra-cheap Nano car in the United States in three years, following possible sales in Europe by the end of 2011.
Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.
Bihar Tubes advanced 4.53%, after the company reported net profit of Rs 8.41 crore in Q3 December 2009 as compared to net loss of Rs 7.44 crore in Q3 December 2008 on consolidated basis.
JK Tyre & Industries advanced 3.07% on reports the company plans to invest Rs 1200 crore over the next three-four years for capacity expansion.
Novartis India surged 4.05% after its parent firm reportedly secured patent for cancer drug.
Punjab Chemicals & Crop Protection jumped 4.27%, after the company said its board will meet on 13 January 2010 to consider raising funds through various modes.
Cals Refineries registered highest volume of 10.88 crore shares on the BSE. Karuturi Global (1.66 crore shares), JCT Electronics (1.58 crore shares), Unitech (1.27 crore shares), and G V Films (1.25 crore shares), were the other volume topped on the BSE.
Reliance Industries clocked the highest turnover of Rs 233.32 crore on the BSE. Thinksoft Global Services (Rs 176.55 crore), DLF (Rs 122.34 crore), Unitech (Rs 113.83 crore), and MBL Infrastructures (Rs 109.54 crore), were the other turnover topped on the BSE.
Headlines for the day
Ministry plans special SAIL arm for overseas buys
L&T plans 6,500 Mw power generation capacity in 4 yrs
Gitanjali opens training centre at Rajiv Gems SEZ
Nalco to get Potangi bauxite mining lease
Novartis gets patent for cancer drug
Events for the day
Major corporate action:
Listing of equity shares of MBL Infrastructure Ltd
Ex-date for dividend of Automotive Axle Ltd
Ex-date for interim dividend of Power Grid Corporation Ltd
Ex-date for re-issue of Forfeited equity shares of Prabhav Industries Ltd
Today’s Results: Dhampur Sugar Mills LtdGeojit BNP Paribas & Exide Industries.
On Friday, the European stocks closes marginally higher. FTSE 100 closed 0.14% higher at 5534.
The US markets closed closes higher on Friday on recovery hopes. Nasdaq closed at 2317, 17 points higher.
In today's trade, all the Asian indices are trading higher. At the time of writing this report, SGX Nifty trading higher by 15 points
Owing to positive cues coming from the global market, the domestic indices are expected to open higher and may remain volatile.
Among the local indices, the Nifty could test the 5300-5325 range on the up side, while on the down side it could find support at 5180 and 5200. While the Sensex is likely to get support at 17400 and may face resistance at 17800.
Indian ADRs trading on the US bourses, Satyam surged the most with gains of 4.25%, on other hand ICICI Bank fell the most with loss of 2.07%.
In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $0.59 to settle at $83.25 a barrel.
In the metals space, Comex Gold for February series rise by $5.50 to settle at $1139.20 to a troy ounce.
In the metals space, Comex Silver for March series rise by $0.12 to settle at $18.46 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 08, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs302.10 crore (with the gross purchase of Rs2644.80 crore and gross sales of Rs2342.70 crore).
While the Domestic mutual funds, on January 07, 2009, were the net sellers of the stocks in the tune of Rs406.60 crore (with gross purchase of Rs579.90 crore and gross sales of Rs986.60 crore).
The market may snap last two days losses on positive Asian stocks after strong trade data from China in the month of December 2009. US market closed moderately higher on Friday, 8 January 2010. The expectations of better Q3 December 2009 result by India Inc may further support market. IT bellwether Infosys kickstarts Q3 result season on Tuesday, 12 January 2010.
The government will present its annual budget in Parliament on 26 February 2009 and was aiming at enacting legislation in the second half of this year for introducing a new Goods and Services Tax (GST), the finance minister Pranab Mukherjee said on Saturday 9 January 2010.
Pranab Mukherjee also said he is hopeful growth rate of Asia's third largest economy could touch 8 % in the fiscal year to March 2010, faster than 6.7 % in the previous year. With faster growth in output in recent months and rise in inflation, the government is widely expected to withdraw some of its fiscal stimulus in the forthcoming budget.
The economy is likely to return to an annual growth rate of 9 % by the fiscal year ending in March 2012, Montek Singh Ahluwalia, deputy chairman of the Planning Commission.said on Saturday. Prime Minister Manmohan Singh on Friday 8 January 2010 said he was optimistic that India, which along with China is leading the drive out of a global recession, could return to annual growth of 9-10 % in a few years time.
Industry bodies have urged the government to extend fiscal stimulus by six months this year, but a 16-year high fiscal deficit of 6.8 % of gross domestic product estimated for 2009/10, has left little room for extending tax concessions. Mukherjee said it would take 7-8 months for the government to bring in legislations for introducing GST, which was earlier scheduled on April 2010.
The government expects the proposed tax reform along with higher growth in the economy leading to more revenues and stake sales in state-run firms, could help lower the fiscal deficit in 2010/11 to an estimated at 5.5 %. The government aims to sell shares of about 60 state-run firms in the coming years, with offers for power utility NTPC, miner NMDC, Rural Electrification Corp and Satluj Jal Vidyut expected by end-March 2010.
In global news, Asian stocks rose on Monday, after Chinese trade figures boosted metals prices. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 0.41% to 1.29%.
China's stocks rose 1.29%, led by brokerages and banks, after the government approved index futures, fanning speculation the new derivatives will boost trading volumes. China's exports climbed 17.7 % in December 2009 from a year earlier, the first increase in 14 months, and imports jumped 55.9 %, the customs bureau said over the weekend.
U.S. stocks closed up on Friday as December's unemployment report, despite showing job losses, was seen supportive of a slow recovery. The Dow Jones Industrial Average was up 11.33 points, or 0.11%, to 10,618.19. The Nasdaq was up 17.12 points, or 0.74%, to 2317.17 and the S&P 500 was up 3.29 points, or 0.29% to 1144.98.
Closer home, the key benchmark indices in India edged lower extending losses for the second straight day, defying gains in global stocks on Friday, 8 January 2010 .The BSE 30-share Sensex fell 75.43 points or 0.43% at 17,540.29 on that day.
As per provisional figures on NSE, foreign funds bought shares worth Rs 69.38 crore and domestic funds bought shares worth Rs 182.87 crore on Friday.
Reliance Industries raises Lyondell bid to US$13.5bn. (TOI)
L&T plans 6,500 Mw power generation capacity in 4 yrs. (BS)
The steel ministry is planning to set up a special arm under SAIL to spearhead overseas acquisitions, particularly in the mining sector. (BS)
Telenor Group increases its stake in Unitech Wireless from 49% to 60.1% with an investment of Rs15bn. (BL)
IOC plans 26% stake in nuclear power venture with NPCIL. (BS)
Government plans to raise Rs110bn by divesting 5% stake in NTPC. (BL)
RBI may not hike rates in the next six months, says SBI chairman. (TOI)
Ranbaxy Laboratories eyes Bangalore-based biotech company Biovel Life Sciences; deal size is said to be around Rs500mn. (DNA)
National Aluminium plans to set up three subsidiaries to make investments in new businesses. (DNA)
Essar Group plans to acquire a majority stake in Zambia’s state-owned Indeni Refinery, which has a capacity to refine around 1mn tonnes per annum. (Mint)
Sunil Hi Tech Engineers has been awarded a Rs4.9bn Balance of Plant contract by Maharashtra State Power Generation Co. (BL)
Raymond plans to open over 200 stores across the country in the next one and half years to grow its business. (ET)
Setco Automotive plans to invest Rs1bn over the next two years for setting up a new plant for clutch units in Africa (ET)
Natco Pharma to shortly launch its breast cancer drug Albupax. (ET)
Foreign exchange reserves rose by US$22mn to US$284bn, for the week ended January 1. (BL)
Union Government has approved road projects worth Rs61.5bn in five States for upgrading nearly 562km of highways. (BL)
FM has offered a proposal to the states for absorbing 50% of the losses likely to be incurred by them while shifting to the GST regime. (DNA)
Successful bidders at the upcoming auction of 3G services will be allowed to split their payment into two parts. (Mint)
Steel consumption rose close to 8% during April-December 2009, over the year ago period. (ET)
Telecom regulator Trai is planning an alternate solution against moving to 11-digit mobile numbers where it will retain the current 10-digit format but open up digits 2 to 9 for mobile numbers. (ET)
Domestic tourism sector bounces back, about 6.46 lakh foreigners visited the country during December 2009, up 21% compared to 5.34 lakh in the corresponding month the previous year. (ET)
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
Consolidation seems to be the name of the game as bulls seek a strong foundation amid uncertainty over the prospects for 2010. Bulls and bears both seem to be lacking conviction for the moment; perhaps waiting for further clarity on economic recovery and corporate earnings. Events scheduled for this week and the month could help shape the opinion about the outlook in near future.
IIP data for November will be out on Tuesday while the monthly inflation report is due out on Jan. 14. Infosys, TCS, Bajaj Auto, HDFC Bank, Axis Bank and UltraTech Cement will announce results this week. Later this month, the RBI and the Fed will hold policy meetings. The ECB meets on Thursday but is unlikely to alter its monetary policy just yet.
We expect a slightly positive start as most Asian markets are in the green. Things should turn choppy again later in the day. Strength in brokerages has lifted China and Hong Kong after Beijing approved index futures. Chinese exports have rebounded and imports too have surged.
The Government will present its Union Budget on February 26 and is aiming at enacting legislation in the second half of this year for introducing a new Goods and Services Tax (GST), Finance Minister Pranab Mukherjee said on Saturday. He also said he is hopeful that growth rate could touch 8% in the fiscal year ending March 2010, faster than 6.7% in the previous year.
Results Today: Dhampur Sugar, Bihar Tubes and Exide.
FIIs were net buyers in the cash segment on Friday at Rs693.8mn on a provisional basis. The local funds were net buyers of Rs1.82bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers at Rs7.75bn. As per the SEBI figures, FIIs were net buyers of Rs3.02bn in the cash segment on Thursday.
US stocks recovered from a weak start to end higher on Friday, as investors shrugged off a surprising drop in payrolls last month. Technology shares rose and helped the broader market erase early losses.
The Dow Jones Industrial Average added 11 points, or 0.1%, to 10,618.19. The S&P 500 index gained 3 points, or 0.3%, to 1,144.98. The Nasdaq Composite index gained 17 points, or 0.7%, at 2,317.17.
The Dow and S&P 500 ended at 15-month highs and the Nasdaq at a 16-month high in the first trading week of 2010.
Following Monday's big rally, US stocks had been struggling in a range all through the last week, as investors chose to stay on the sidelines after last year's sensational turnaround. Nervousness about the jobs report also played a part in keeping further gains in check.
In the day's key economic report, US companies cut 85,000 jobs from their payrolls in December. The figure was a surprise to economists who were expecting no change in payrolls. On a more positive note, November's report was revised to show a gain of 4,000 jobs versus the initially reported loss of 11,000, breaking a 22-month streak of declines. The unemployment rate, generated by a separate survey, held steady at 10%, in line with forecasts.
Citigroup cut its fourth-quarter earnings forecasts on Goldman Sachs, Morgan Stanley and JPMorgan Chase, saying that fixed-income trading revenues fell in the fourth quarter and are set to fall an additional 15% to 20% in 2010. The companies are also likely to see weaker revenues from their commodity and currency units.
UPS announced that it was cutting 1,800 jobs as part of a restructuring and that it expects fourth-quarter earnings to top expectations. Shares gained about 5%.
A report released after the start of trading showed that wholesale inventories rose 1.5% in November after rising 0.6% in October. Economists thought inventories would fall 0.3%.
Another report release in the afternoon showed that consumer borrowing fell by US$17.5bn in November versus the US$5bn expected. Borrowing fell by US$3.5bn in the previous month.
The dollar tumbled versus the euro and the yen. Dollar-traded gold inched higher.
COMEX gold for February delivery rose US$5.20 to US$1,138.90 an ounce. Gold closed at an all-time high of US$1,218.30 an ounce last month.
US light crude oil for February delivery fell 9 cents to settle at US$82.75 a barrel on the New York Mercantile Exchange, further retreating from 15-month highs hit earlier in the week.
Treasury prices slipped, raising the yield on the 10-year note to 3.83% from 3.82% late on Thursday.
Europe stocks ended the week on a positive note on Friday, helped by a rally in bank shares. The pan-European Dow Jones Stoxx 600 index rose 0.4% to 259.17, led by the financial sector, up 1.3%. It rose more than 2% this week.
Still, the index was briefly in the red earlier after the US Labor Department said 85,000 nonfarm jobs were lost in December, with an unemployment rate of 10%.
Eurostat reported that unemployment reached an 11-year high for the euro zone during November, also of 10%.
The UK's FTSE 100 index rose 0.1% to 5,534.24, while Germany's DAX index gained 0.3% to 6,037.61 and the French CAC 40 index added 0.5% to 4,045.14.
The key indices moved in a narrow range this week, but closed at a 22-month high largely due to gains on the first trading day of the year. Volumes were low as index stocks struggled for direction in a listless market, as investors chose to remain cautious ahead of results. Finally, the BSE Sensex rose 0.4% and the NSE Nifty gained 0.8% over the week.
On Friday, the BSE Sensex fell 75 points to end at 17,540 after touching a high of 17,606 and a low of 17,508. The Nifty declined 18 points to end at 5,244.
Equity markets in Asia ended in the green. The Nikkei in Japan was up 0.1.1%, while Australia's S&P/ASX ended higher by 0.3%. The Shanghai SE Composite declined 0.2% and Hang Seng index in Hong Kong gained 0.2%.
In Europe, stocks were trading higher. The DAX in Germany was up 0.3% and the CAC 40 index in France was up 0.5%. The FTSE in the UK was flat.
Coming back to India, among the BSE sectoral indices, the Realty index was the top gainer, adding 3.5%, followed by the Power index that was up 0.6% and the BSE Capital Goods index was up 0.5%. The BSE Mid-Cap index ended flat while BSE Small-Cap index was up 0.4%.
Among the 30-components of Sensex, 15 stocks ended in the negative terrain and 15 ended in the green. DLF, Grasim, Sun Pharma and JP Associates were among the top gainers.
On the other hand, among the major losers were Infosys, TCS, HDFC, RCom and Maruti.
Outside the frontline indices, the big gainers in the broader market were Hindustan Copper, REI Agro, IRB Infra, Bosch, Moser Baer and Sun TV. On the other hand, losers included Gujarat NRE Coke, AB Nuvo, HCL Tech and Max India.
We recommend a buy of JBF Industries stock from a short-term perspective. It is apparent from the charts that in December 2008 the stock had bottomed out and has since been on a longer-term uptrend, forming higher peaks and higher troughs. While trending upward the stock broke through various key resistance levels. A significant resistance level at Rs 80 turned into a key support level. Taking support at this level in November 2009, the stock resumed its long-term uptrend. The stock's medium-term trend continues to be up since November. On January 8, the stock gained almost 8 per cent, accompanied with heavy volume, breaching resistance at Rs 110 and is trading way above its 21- and 50-day moving averages. The daily relative strength index is hovering in the bullish zone and weekly RSI also is featuring in this zone. The daily moving average convergence and divergence indicator is steadily heading higher in the positive territory. Considering that the uptrend-line is intact, we are positive on the stock from a short-term horizon. We anticipate the stock to rally until it hits our price target of Rs 124. Traders with short-term perspective can consider buying the stock with Rs 106 as stop-loss.
Disappointing job report fails to curb weekly gains
US stocks ended the first week of FY 2010 with good gains. The week that ended on Friday, 08 January, 2010 did not have any important catalyst but still indices struck new fifty-two week highs. Stocks infact also digested a worse than expected labor market report.
For the week, that ended on Friday, Dow ended higher by 190.14 points (1.8%) at 10,618.19. Nasdaq ended higher by 48.02 points (2.1%) at 2317.17. S&P500 gained 29.88 points (2.7%) at 1144.98. The energy, materials, financial and industrial sectors led the weekly gains.
Economic data did not do much to impress the investors during the week as the same were mixed in nature. December ISM Index topped expectations at 55.9 against an expected 54.3 but construction spending missed estimates.
Meanwhile, retailers reported their December same-store sales numbers, which were generally better than expected. In addition, many of the retailers increased their earnings guidance in conjunction with their same-store sales updates.
At the end of the day on Friday, 08 January, 2010, the Dow Jones Industrial Average ended higher by 11.33 points at 10,618.19. Nasdaq ended higher by 17.12 points at 2317.17. S&P 500 ended higher by 3.29 points at 1144.98. Dow was down by 32 points earlier during the day. A late rally helped stocks end in the green.
Five of the ten economic sectors ended higher for the day led by industrials, technology, and material sectors. Financial and consumer staple sectors lagged.
There were quite a few analyst downgrades in the market on Friday. The financial sector remained a laggard in the market on Friday after Citigroup downgraded quite a few firms like Goldman Sachs, JP Morgan etc. On the other hand, the consumer staples sector was also hit after JP Morgan downgraded Coco Cola and Colgate Palmolive.
Crude oil prices rose on Friday, 08 January 2010. Prices rose as dollar slipped following disappointing job data at Wall Street thereby enhancing the appeal of commodities as an alternate investment. But crude managed to end only marginally higher.
On Friday, crude-oil futures for light sweet crude for February delivery closed at $82.75/barrel (higher by $0.09 or 0.1%). Earlier during the day, prices fell to a low of $82.55. Crude ended the week, higher by 4.3%.
In the currency market on Friday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.7%.
Among economic data for the day, The Labor Department in US reported on Friday, 08 January, 2010 that nonfarm payrolls fell by a seasonally adjusted 85,000 in December 2009 following a revised 4,000 gain in November 2009, which was the first increase in payrolls since December 2007. During 2009, payrolls fell by 4.2 million.
The official unemployment rate remained at 10% in December as the labor force contracted by the largest amount in nearly 15 years. After averaging nearly 700,000 a month in the first quarter of 2009, job losses decelerated to an average of 69,000 in the fourth quarter.
Indian ADRs ended mixed on Friday. ICICI Bank was the main loser shedding 2.1%. WNS Technologies and VSNL were the main gainers soaring 2.5% and 1.8% respectively.
Earnings reports will start to pick up next week with Alcoa reporting on Monday marking the unofficial start of Q4 earnings, followed by bellwethers Intel and JPMorgan Chase.