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Wednesday, February 10, 2010
BSE Bulk Deals to Watch - Feb 10 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/2/2010 517356 ACI Infocom REENA GOPANI S 76186 21.01
10/2/2010 530901 ACIL Cot Inds HOOGHLY MILLS PROJECTS LTD S 185000 16.41
10/2/2010 530901 ACIL Cot Inds SHREE BAHUBALI INTERNATIONAL LTD S 225500 16.40
10/2/2010 511706 Action Fin RAHUL C BAFNA B 88000 19.30
10/2/2010 511706 Action Fin MANOJ ASHAH S 127558 19.25
10/2/2010 522150 Aditya Forge NITIN RASIKLAL PAREKH B 25700 10.52
10/2/2010 522150 Aditya Forge VSL SECURITIES PVT LTD S 23100 10.45
10/2/2010 532683 AIA Engineering T. ROWE PRICE INTERNATIONAL INC AC T ROWE PRICE NEW ASIA FUND B 1358244 355.00
10/2/2010 532683 AIA Engineering SMALL CAP WORLD FUND INC B 1915000 354.98
10/2/2010 532683 AIA Engineering BHADRESH KANTILAL SHAH S 2830000 355.00
10/2/2010 532331 Ajanta Pharma OPG SECURITIES P LTD B 62115 164.83
10/2/2010 532331 Ajanta Pharma OPG SECURITIES P LTD S 62115 164.73
10/2/2010 531591 Bampsl Sec JOLLYGUPTA S 488000 0.99
10/2/2010 531591 Bampsl Sec GIRRAJ PRASAD GUPTA S 400000 0.98
10/2/2010 530249 Bridge Sec BHUPESH KASHINATH MEHTA B 22400 12.90
10/2/2010 530457 Cinerad Comm INDIAEMERGING CAPITAL PVT LTD B 227694 6.25
10/2/2010 530457 Cinerad Comm NITIN JOHARI S 200200 6.25
10/2/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. B 707885 20.24
10/2/2010 512093 Cranes Soft JMP SECURITIES PVT LTD B 2291303 21.42
10/2/2010 512093 Cranes Soft TRANSGLOBAL SECURITIES LTD. S 707886 20.18
10/2/2010 512093 Cranes Soft JMP SECURITIES PVT LTD S 2122603 21.25
10/2/2010 512361 Cupid Trades SPLENDOR VANIJYA PRIVATE LIMITED B 8033 38.15
10/2/2010 512361 Cupid Trades WITHAL COMMERCIAL PRIVATE LIMITED S 8033 38.15
10/2/2010 532610 Dwarikesh Sugar ISHWAR MITTAL B 153050 112.12
10/2/2010 504351 Empower Inds OMPARKASH GUPTA B 58639 25.36
10/2/2010 504351 Empower Inds JIGNESH CHANDRAKANT SHAH B 303897 25.37
10/2/2010 504351 Empower Inds NARESHCHAND JAIN B 75281 24.80
10/2/2010 504351 Empower Inds SUNILKUMAR JAWARILAL PALECHA B 64100 24.14
10/2/2010 504351 Empower Inds BP FINTRADE PRIVATE LIMITED B 51696 25.03
10/2/2010 504351 Empower Inds OMPARKASH GUPTA S 58639 25.10
10/2/2010 504351 Empower Inds NARESHCHAND JAIN S 93740 24.92
10/2/2010 504351 Empower Inds SUNILKUMAR JAWARILAL PALECHA S 64100 24.97
10/2/2010 504351 Empower Inds DEEPAK SATYAPRAKASH GOYAL S 95510 24.98
10/2/2010 504351 Empower Inds BP FINTRADE PRIVATE LIMITED S 79345 25.33
10/2/2010 530337 Exelon Infra JMP SECURITIES PVT LTD S 31000 20.10
10/2/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 79288 65.89
10/2/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED B 51054 64.67
10/2/2010 590024 Fert & Chem Trv DEEPAK POPATLAL VORA B 51373 66.09
10/2/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 79288 65.58
10/2/2010 590024 Fert & Chem Trv R B K SHARE BROKING LIMITED S 36408 65.02
10/2/2010 590024 Fert & Chem Trv JMP SECURITIES PVT LTD S 38650 66.68
10/2/2010 590024 Fert & Chem Trv EKTA K VORA S 50000 66.14
10/2/2010 590024 Fert & Chem Trv DEEPAK POPATLAL VORA S 60773 65.19
10/2/2010 532022 Filatex Fash SAGAR TEX CREATION PRIVATE LIMITED B 70000 12.40
10/2/2010 532022 Filatex Fash LOHIA SECURITIES LTD S 70000 12.40
10/2/2010 532345 Gati DPJ VINIYOG PRIVATE LTD B 373520 62.15
10/2/2010 532312 Geometric GODREJ INVESTMENTS LIMITED B 749534 61.00
10/2/2010 532312 Geometric ALCHEMY INDIA LONG TERM FUND LIMITED S 755268 61.04
10/2/2010 513059 GS Auto J V STOCK BROKING PRIVATE LIMITED B 40535 50.27
10/2/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE B 71329 50.32
10/2/2010 513059 GS Auto SANJAYKUMAR CHAMPAKLAL SHAH B 54000 50.47
10/2/2010 513059 GS Auto J V STOCK BROKING PRIVATE LIMITED S 48609 50.93
10/2/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE S 55470 50.76
10/2/2010 523467 Jai Mata Glass VIKAS BANSAL B 100000 3.37
10/2/2010 523467 Jai Mata Glass RAJ KUMAR AGARWAL S 67520 3.37
10/2/2010 523467 Jai Mata Glass INDUSTRIAL DEVELOPMENT BANK OF INDIA S 100000 3.37
10/2/2010 533155 JUBL FOOD GENUINE STOCK BROKERS PVT. LTD. B 407504 241.34
10/2/2010 533155 JUBL FOOD OPG SECURITIES P LTD B 525830 241.85
10/2/2010 533155 JUBL FOOD GENUINE STOCK BROKERS PVT. LTD. S 407504 241.55
10/2/2010 533155 JUBL FOOD OPG SECURITIES P LTD S 525830 241.81
10/2/2010 523810 Kaleidoscope Films PRACHI VINODKUMAR SHAH B 300000 4.50
10/2/2010 523810 Kaleidoscope Films U KHUSHBOO S 467400 4.50
10/2/2010 523810 Kaleidoscope Films SUTTAM CHAND S 1087642 4.50
10/2/2010 530255 KAY Power NAVAL KISHORE GUPTA B 150100 17.83
10/2/2010 530255 KAY Power BAMPSL SECURITIES LTD B 160699 17.54
10/2/2010 530255 KAY Power KAILASHCHAND GUPTA B 86600 17.87
10/2/2010 530255 KAY Power KAUSHALYA GARG S 194000 17.25
10/2/2010 530255 KAY Power BAMPSL SECURITIES LTD S 152098 17.68
10/2/2010 530255 KAY Power SUNIL KUMAR GUPTA S 100000 17.83
10/2/2010 530255 KAY Power B.S.KHANDELWAL S 140000 17.83
10/2/2010 531602 Koffee Break NALINI NITIN GADA S 584335 1.97
10/2/2010 530039 Lords Chemicals AVINASH EXIM PRIVATE LIMITED B 27808 34.02
10/2/2010 532789 Nissan Copper IGFT PRIVATE LIMITED B 285000 35.48
10/2/2010 532789 Nissan Copper PRIME INDIA INVESTMENT FUND LIMITED S 285000 35.48
10/2/2010 531496 Omkar Overseas JITENDRA KUMAR RATHI B 45000 47.35
10/2/2010 531496 Omkar Overseas VIJAY KUMAR KASHMIRILAL PUNJABI B 26419 45.76
10/2/2010 531496 Omkar Overseas VIJAY VELJIBHAI PADHARIA B 30000 47.42
10/2/2010 531496 Omkar Overseas GAGAN OMPRAKASH ARORA S 26419 45.76
10/2/2010 531496 Omkar Overseas OMKARMAL GOPIRAM AGARWAL S 50000 47.80
10/2/2010 512097 Oregon Comm KRUPA SANJAY SONI B 4845 188.08
10/2/2010 512097 Oregon Comm KRUPA SANJAY SONI S 6199 188.00
10/2/2010 512097 Oregon Comm HALAN PROPERTIES PRIVATE LTD. S 6471 190.66
10/2/2010 511702 Parsharti Inv PATEL SHAILESH JIVANLAL B 101517 33.47
10/2/2010 511702 Parsharti Inv PRADEEP RAMPRASAD SANDHIR HUF S 47371 33.50
10/2/2010 532742 Paushak PUSHPADEVI AGARWAL B 20000 64.50
10/2/2010 532742 Paushak PRAMILADEVI TAPARIA B 20000 67.50
10/2/2010 532742 Paushak PUSHPADEVI AGARWAL S 20000 67.50
10/2/2010 532742 Paushak PRAMILADEVI TAPARIA S 20000 64.50
10/2/2010 509839 Punjab Wool ANITA MANOJ JAIN S 72551 5.58
10/2/2010 523523 Rainbow Papers DKG SECURITIES PVT. LTD. B 115000 125.00
10/2/2010 523523 Rainbow Papers SARSWATI VINCOM LTD B 49327 124.98
10/2/2010 523523 Rainbow Papers EPOCH SYNTHETICS PVT LTD B 50000 131.00
10/2/2010 523523 Rainbow Papers ISHWAR MITTAL S 254470 125.00
10/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 91226 33.80
10/2/2010 502587 Rama Pulp OMPARKASH GUPTA B 115920 32.82
10/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 176323 32.97
10/2/2010 502587 Rama Pulp OMPARKASH GUPTA S 57078 33.75
10/2/2010 590077 Ranklin Sol SRIKANTH MIKKILINENI B 27700 55.04
10/2/2010 590077 Ranklin Sol MEDEPUDI NAGENDRA BABU B 26787 54.59
10/2/2010 590077 Ranklin Sol RAMATULASI MORTHA B 30000 55.31
10/2/2010 590077 Ranklin Sol SATISH MORTHA S 42000 55.00
10/2/2010 530619 Religare Tech Glob FELEX ENTERPRISES PRIVATE LIMITED B 590000 40.05
10/2/2010 530619 Religare Tech Glob PUSHTI CONSULTANTS PRIVATE LIMITED S 518000 40.05
10/2/2010 530619 Religare Tech Glob SUMARU ENTERPRISES PRIVATE LTD S 414005 40.05
10/2/2010 530619 Religare Tech Glob RAJESH ANANTRAI KAMDAR S 249852 40.05
10/2/2010 530619 Religare Tech Glob ANIL GURMUKH BHAGWANI NRE S 230000 40.05
10/2/2010 526927 Religare Technova SUMARU ENTERPRISES PRIVATE LTD B 215000 77.55
10/2/2010 526927 Religare Technova FELEX ENTERPRISES PRIVATE LIMITED S 324437 77.55
10/2/2010 526479 SKY Inds VIJAY JAMNADAS VORA B 32246 109.76
10/2/2010 526479 SKY Inds MANMOHAN DAULAL RATHI B 34000 113.00
10/2/2010 526479 SKY Inds VIJAY JAMNADAS VORA S 37246 114.60
10/2/2010 526479 SKY Inds HINA VIJAYKUMAR VORA S 20900 113.88
10/2/2010 531645 Southern Ispat SHANKAR TRADERS DISTRIBUTORS PRIVATE LIMITED B 80000 30.81
10/2/2010 531645 Southern Ispat REASH RAJ PLASTICK PVTLTD S 80000 30.96
10/2/2010 502465 Speciality Pap DISHA DHARMENDRA MADHANI B 75000 21.20
10/2/2010 502465 Speciality Pap ARPIT SHARE BROKERS PRIVATE LIMITED B 350000 21.20
10/2/2010 502465 Speciality Pap JINALBENBHAVIKBHAIVORA B 50000 21.20
10/2/2010 502465 Speciality Pap AMARMUKESHKUMARSHAH B 50000 21.20
10/2/2010 502465 Speciality Pap VIRALBHARATVASA B 50000 21.20
10/2/2010 502465 Speciality Pap BINAPARESHSHAH B 50000 21.20
10/2/2010 502465 Speciality Pap SANJAY HIRAMAN PAWAR B 80186 21.19
10/2/2010 502465 Speciality Pap EPOCH SYNTHETICS PVT LTD B 350000 21.20
10/2/2010 502465 Speciality Pap UNIQUE COMMIDITIES LTD B 250000 21.20
10/2/2010 502465 Speciality Pap MEKAN JETHALAL GALA S 1349656 21.20
10/2/2010 532733 Sun TV Network NALANDA INDIA FUND LIMITED S 7732340 370.09
10/2/2010 590047 Sunderam Multi RAMESH VIRAJ SHAH S 365916 43.19
10/2/2010 514138 Suryalata Spin MONEY TREE MEDIA VENTURES PRIV B 21772 78.83
10/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 137793 525.22
10/2/2010 533121 THINKSOFT OPG SECURITIES P LTD B 67621 535.99
10/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 137793 523.86
10/2/2010 533121 THINKSOFT OPG SECURITIES P LTD S 67621 535.93
10/2/2010 531831 Unisys Soft MIRACLE TRADECOM PVT.LTD S 200000 18.20
10/2/2010 531390 Upsurge Invest JOYFUL CONSULTANCY PRIVATE LIMITED S 75000 8.05
10/2/2010 530961 Vikas Globalone VIKAS GARG B 145700 32.17
10/2/2010 530961 Vikas Globalone MOONLITE PETRO PRODUCTS PRIVATE LIMITED B 277940 31.92
10/2/2010 530961 Vikas Globalone VAIBHAV GARG S 123320 30.50
10/2/2010 530961 Vikas Globalone UMA GUPTA S 48120 32.75
10/2/2010 530961 Vikas Globalone NISHA GARG S 44060 30.76
10/2/2010 530961 Vikas Globalone NIDHI GARG S 63520 32.50
10/2/2010 530961 Vikas Globalone DARSHNA GUPTA S 154620 33.05
10/2/2010 531249 Well Pack Papers AMAR PREMCHAND WALMIKI B 25000 441.38
10/2/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 31134 442.57
10/2/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 31796 440.21
10/2/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 27545 441.64
10/2/2010 514266 Zenith Fibres VISHAL AGARWAL B 23972 27.75
10/2/2010 532177 Zigma Software JMP SECURITIES PVT LTD B 1475581 10.65
10/2/2010 532177 Zigma Software SAURABH KUMARRASIKLALGANDHI S 1251104 10.65
10/2/2010 532177 Zigma Software JMP SECURITIES PVT LTD S 1075581 10.65
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Feb 10 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-FEB-2010,BHARTISHIP,Bharati Shipyard Limited,SUNEET LAL,BUY,141764,296.94,-
10-FEB-2010,CANDC,C & C Constructions Limit,ORIENTAL STRUCTURAL ENGINEERS PVT LTD,BUY,109745,230.17,-
10-FEB-2010,CRANESSOFT,Cranes Software Internati,JMP SECURITIES PVT LTD,BUY,895909,21.78,-
10-FEB-2010,CRANESSOFT,Cranes Software Internati,TRANSGLOBAL SECURITIES LTD.,BUY,885433,20.30,-
10-FEB-2010,GATI,GATI LIMITED,DPJ VINIYOG PRIVATE LTD,BUY,918799,62.05,-
10-FEB-2010,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,BUY,89351,105.89,-
10-FEB-2010,HOVS,HOV Services Limited,ARJUN RAMESH,BUY,81134,80.33,-
10-FEB-2010,ITI,ITI Ltd.,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,159159,58.29,-
10-FEB-2010,ITI,ITI Ltd.,ASSET ALLIANCE SECURITIES PVT. LTD.,BUY,123734,60.01,-
10-FEB-2010,ITI,ITI Ltd.,BHAVANA VADILAL SHAH,BUY,111406,60.26,-
10-FEB-2010,ITI,ITI Ltd.,BP FINTRADE PRIVATE LIMITED,BUY,160315,59.62,-
10-FEB-2010,ITI,ITI Ltd.,DANI SHARES & STOCKS PRIVATE LIMITED,BUY,166285,58.55,-
10-FEB-2010,ITI,ITI Ltd.,DHYAN SECURITIES PVT LTD,BUY,103886,59.29,-
10-FEB-2010,ITI,ITI Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,205681,59.66,-
10-FEB-2010,ITI,ITI Ltd.,MESH STOCK BROKERS PRIVATE LIMITED,BUY,154953,59.80,-
10-FEB-2010,ITI,ITI Ltd.,MITHUN SECURITIES PVT. LTD.,BUY,155345,59.42,-
10-FEB-2010,ITI,ITI Ltd.,MULTIPLEX CAPITAL LTD.,BUY,266622,59.33,-
10-FEB-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,875195,59.36,-
10-FEB-2010,ITI,ITI Ltd.,OM INVESTMENTS,BUY,688170,59.49,-
10-FEB-2010,ITI,ITI Ltd.,PRAMESH DILIP WAGHELA,BUY,112518,60.24,-
10-FEB-2010,ITI,ITI Ltd.,PRASHANT JAYANTILAL PATEL,BUY,123721,59.25,-
10-FEB-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,130425,59.62,-
10-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,BUY,411017,241.17,-
10-FEB-2010,NATCOPHARM,Natco Pharma Limited,FIDELITY TAX ADVANTAGE FUND,BUY,191463,120.16,-
10-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,199127,524.30,-
10-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,BUY,54797,529.43,-
10-FEB-2010,BHARTISHIP,Bharati Shipyard Limited,SUNEET LAL,SELL,141764,297.51,-
10-FEB-2010,CANDC,C & C Constructions Limit,M & G INVESTMENT MANAGEMENT LTD A/C PRUDENTIAL IN,SELL,139053,230.05,-
10-FEB-2010,CRANESSOFT,Cranes Software Internati,JMP SECURITIES PVT LTD,SELL,656874,21.71,-
10-FEB-2010,CRANESSOFT,Cranes Software Internati,TRANSGLOBAL SECURITIES LTD.,SELL,885433,20.36,-
10-FEB-2010,GATI,GATI LIMITED,DPJ VINIYOG PRIVATE LTD,SELL,613946,62.02,-
10-FEB-2010,GLOBUSSPR,Globus Spirits Limited,SATYEN KANORIA,SELL,103717,105.71,-
10-FEB-2010,ITI,ITI Ltd.,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,159159,58.37,-
10-FEB-2010,ITI,ITI Ltd.,ASSET ALLIANCE SECURITIES PVT. LTD.,SELL,123734,59.75,-
10-FEB-2010,ITI,ITI Ltd.,BHAVANA VADILAL SHAH,SELL,111406,60.22,-
10-FEB-2010,ITI,ITI Ltd.,BP FINTRADE PRIVATE LIMITED,SELL,157315,59.64,-
10-FEB-2010,ITI,ITI Ltd.,DANI SHARES & STOCKS PRIVATE LIMITED,SELL,166285,58.52,-
10-FEB-2010,ITI,ITI Ltd.,DHYAN SECURITIES PVT LTD,SELL,103886,59.35,-
10-FEB-2010,ITI,ITI Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,205681,59.67,-
10-FEB-2010,ITI,ITI Ltd.,MESH STOCK BROKERS PRIVATE LIMITED,SELL,154953,59.89,-
10-FEB-2010,ITI,ITI Ltd.,MITHUN SECURITIES PVT. LTD.,SELL,155345,59.49,-
10-FEB-2010,ITI,ITI Ltd.,MULTIPLEX CAPITAL LTD.,SELL,266622,59.36,-
10-FEB-2010,ITI,ITI Ltd.,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,886420,59.33,-
10-FEB-2010,ITI,ITI Ltd.,OM INVESTMENTS,SELL,688170,59.54,-
10-FEB-2010,ITI,ITI Ltd.,PRAMESH DILIP WAGHELA,SELL,112518,60.28,-
10-FEB-2010,ITI,ITI Ltd.,PRASHANT JAYANTILAL PATEL,SELL,123721,59.28,-
10-FEB-2010,ITI,ITI Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,130425,59.50,-
10-FEB-2010,JUBLFOOD,Jubilant Foodworks Limite,GENUINE STOCK BROKERS PVT LTD,SELL,411017,241.21,-
10-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,199127,525.65,-
10-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,BP FINTRADE PRIVATE LIMITED,SELL,55798,529.59,-
Sensex below 16000
Today's major news
Kirloskar Brothers bags order from GWSSB; the stock closed 1.88% lower
Subex in pact with a US company; the stock surged 3.54%
Hindustan Construction gets three orders worth Rs2,860 crore; the stock rose 1.48%
WABCO inks pact with Mahindra Navistar; the stock jumped 6.12%
BHEL wins Rs495-crore order; the stock closed 1.27% lower
Click here for more stories
Post-market summary
Global signals
The European indices rose for the third day in a row on gains in banking stocks. At the time of writing this report FTSE 100 was up by 0.64%.
Asian indices had a mixed outing today. Hang Seng, Nikkei and Shanghai Composite ended higher, while Kospi and Straits Times closed lower. SGX Nifty closed unchanged.
Investors in USA are awaiting key data likes treasury budget for January, trade balance for December and crude inventories as on February 05, 2010.
Indian indices
Brushing aside strong positive cues from overseas markets, the Indian market closed lower. The Sensex opened flat and rose to touch the high of the day at 16141. Despite positive opening in Europe, the Sensex turned negative at noon and touched the day’s low of 15892 on declining risk appetite among foreign investors. The Sensex breached the 16000-mark again to close at 15922, 120 points lower, while Nifty closed 35 points lower at 4757.
Market sentiment
The market breadth was marginally negative. Of the 2,888 stocks traded on the BSE, 1,487 stocks declined, whereas 1,314 stocks advanced. Eighty-seven stocks ended unchanged
Sectoral & stock screening
Only consumer durables (CD) and realty stocks drew investor interest with the BSE CD up by 1.92% and BSE Realty 0.88 higher. Capital goods, public sector units (PSU) and power stocks were hit the most with the BSE CG, BSE PSU and BSE Power down by 1.21%, 1.07% and 1.04% respectively. The remaining indices were down by less than 1%.
The top three gaining stocks were Glaxosmithkline Consumer (up by 7.23%), REI Agro (up by 7.22%) and Indiabulls Real Estate (up by 5.22%). The top three losing stocks were Sun TV (down by 8.44%), Chambal Fertilisers and Chemicals (down by 4.84%) and Shree Renuka Sugars (down by 3.47%).
Viewing volumes
India’s second largest realty company Unitech saw strong investor interest with over with over 0.93 crore shares changing hands on the BSE followed by Sun TV Network (0.85 crore shares), wind power major Suzlon Energy (0.50 crore shares), leading integrated steel maker Ispat Industries (0.47 crore shares) and Industrial finance company IFCI (0.42 crore shares).
ARSS Infrastructure Projects IPO subscribed more than 4 times
QIB category subscribed more than 5 times
The initial public offer of ARSS Infrastructure Projects was subscribed more than 4 times by 16:00 IST on the third day of the issue today, 10 February 2010. The IPO received bids for 1.02 crore shares as compared to 25.12 lakh shares on offer. The issue closes on Thursday, 11 February 2010. The price band for the IPO is Rs 410 to Rs 450.
Foreign institutional investors (FIIs) had put in bids for 79.43 lakh shares at the end of day two on Tuesday, 9 February 2010. That compared to 15.07 lakh shares reserved for the qualified institutional buyers category as a whole. The non-institutional investors segment, comprising of high networth individuals and corporates was bid 1.47 times at the end of day two. The retail segment was bid 0.58 times.
ARSS Infrastructure Projects (AIPL) provides construction services for railway infrastructure, roads & highways and irrigation projects.
Market snaps three-day winning streak as FIIs continue selling
A day after regaining the psychological 16,000 mark, the barometer index BSE Sensex fell below that level today, 10 February 2010, on waning risk appetite among foreign investors. Intraday volatility on the bourses was immense. The BSE 30-share Sensex fell 120.01 points or 0.75%, up close to 30 poinrts from the day's low and off close to 220 points from the day's high. Banking, capital goods, FMCG, healthcare and power stocks fell. The market breadth turned negative in contrast to a strong breadth earlier in the day.
Foreign funds have pressed heavy sales of Indian stocks in early 2010. As per data from the stock exchanges, foreign institutional investors (FIIs) sold stocks worth a net Rs 11141.63 crore in calendar 2010 so far (till Tuesday, 9 February 2010). In contrast, domestic institutional investors (DIIs) have bought equities worth a net Rs 14687.43 crore this year so far.
Coming back to today's trade and the market was volatile. The market pared gains soon after a firm start triggered by higher Asian stocks. The market slipped into the red in early trade as US index futures fell. The market cut losses in morning trade. It moved between the positive and negative terrain after recovering sharply from the intraday lows in mid-morning trade. The market once again cut losses after weakening in early early afternoon trade. The market regained positive zone in afternoon trade. It reversed gains to hit fresh intraday low in late trade.
European shares advanced for a third straight session on Wednesday amid hopes that a rescue plan will be formulated for Greece. The key benchmark indices in France, Germany and UK rose by between 1.17% to 1.34%.
Most of the Asian stocks rose on Wednesday on signs that the European Union may rescue debt-strapped Greece, coaxing nervous investors back to riskier assets. The key benchmark indices in China, Japan, Hong Kong, and Taiwan rose by between 0.31% to 1.14%. But the key benchmark indices in Indonesia, Singapore and South Korea fell by 0.02% to 0.39%.
Chinese exports and imports rose strongly in January 2010 from a year earlier. Exports were up 21% in January after a 17.4% rise in December. Imports surged 85.5%.
US index futures reversed early losses. Trading in US index futures indicated Dow could gain 24 points at the opening bell on Wednesday, 10 February 2010.
US stocks surged on Tuesday, 9 February 2010 on optimism that help was on the way for Greece to deal with its heavy debt burden. The Dow Jones Industrial Average added 150.25 points, or 1.5%, to 10,058.64. The broader Standard & Poor's 500 Index gained 13.78 points, or 1.3%, to 1,070.52, the Nasdaq Composite Index gained 24.82 points, or 1.2%, to 2,150.87.
German Finance Minister Wolfgang Schaeuble plans to brief lawmakers today on steps he may take to support the Greek government before the European Union holds a summit tomorrow. Olli Rehn, who takes over as European Economic Affairs commissioner tomorrow, said Greece has to 'do the necessary measures' in exchange for European Union's support.
Closer home, Reserve Bank of India Deputy Governor Subir Gokarn said on Wednesday he is not in favour of targeting inflation and said domestic growth drivers would depend on significant increases in capital inflows. Last month, the RBI revised up its growth estimate for 2009/10 to 7.5% from 6% and lifted its forecast for wholesale price inflation to 8.5% from 6.5%.
Finance Minister Pranab Mukherjee said on Wednesday that the economy could grow at around 7.75% in the 2009/10 financial year ending in March. With latest GDP data on 2009/10 indicating 7.9% growth in the second quarter, the growth outlook for the next two quarters and for the whole year is expected to be in the upper bound range of more predictions for the Indian economy, he said in a speech.
The government said on Monday the economy would grow 7.2% this fiscal year, picking up from a six-year low the previous year and underlining expectations that the Reserve Bank will raise rates in coming months. The government may announce steps to unwind its stimulus measures in the annual 2010/11 budget presentation on 26 February 2010 as a recovery in Asia's third-biggest economy shows a more solid footing. The Central Statistical Organisation forecast said manufacturing, a key growth driver, would grow 8.9%, a sharp pick up from 2.4% in the previous year.
Farm output would contract 0.2% after the worst monsoon in 37 years, swinging from year-earlier growth of 1.6%. Still, the latest forecast is higher than a 2% contraction forecast by the prime minister's economic advisory commission in October 2009.
Earlier this moth, the International Monetary Fund forecast growth in 2009/10 of 6.75%.
The Reserve Bank of India (RBI) has already raised bank reserve requirements as it starts to withdraw its crisis measures and it has warned of mounting inflation pressures, setting the stage for rates to rise.
A day after commerce and industry minister Anand Sharma hinted at partial withdrawal of stimulus packages, the Prime Minister's economic advisory council (PMEAC) chairman, C Rangarajan, said on Tuesday the process of fiscal consolidation must start with the Budget. Rangarajan on Wednesday said the government could provide a roadmap for exiting from the fiscal stimulus when it presents its budget on 26 February 2010. He also the stimulus exit should be a gradual transition. The RBI will watch the price situation before taking any action on the monetary front, he said later in the day on Wednesday.
Industrial output data for the month of December 2009 which is due on Friday, 12 February 2010, is expected to rise 12% in December 2009 from a year earlier. A robust figure, ahead of the 26 February 2010 annual budget, would also allow the federal government, fighting a 16-year high fiscal deficit, to cut the deficit by phasing out fiscal stimulus. A strong rise would also help the central bank to focus better on containing inflation by raising interest rates in coming months. The industrial output rose 11.7% in November 2009.
Exports are reportedly likely to grow for the third consecutive month in January 2010, as per estimates of the commerce department, making the case for a possible withdrawal of the stimulus package for sectors that were doing well. The finance and commerce ministers are scheduled to meet later in the week to take a decision on the continuation of the stimulus package for exporters, commerce secretary Rahul Khullar has said. Exports grew 13% in January 2010 over a year ago he said.
Inflation numbers for the week ended 30 January 2010 will be out on Thursday 11 February 2010. Accelerating food inflation, largely because of a poor harvest and rising global commodity prices, has become a major concern for the government. Stock markets remains shut on Friday 12 February 2010 on account of Mahashivratri.
The BSE 30-share Sensex fell 120.01 points or 0.75% to 15,922.17. At the day's high of 16,141.13, the Sensex rose 98.95 points in early trade. The Sensex lost 150.17 points at the day's low of 15,892.01 in late trade.
The S&P CNX Nifty fell 35.45 points or 0.74% to 4757.20.
The market breadth, indicating the overall health of the market turned negative. The breadth was strong earlier in the day. On BSE, 1301 shares advanced as compared with 1470 that declined. A total of 89 shares remained unchanged.
From the 30-member Sensex pack, 21 fell while the rest rose.
The BSE Mid-Cap index rose 0.01% and the BSE Small-Cap index rose 0.1%. Both the indices outperformed the Sensex.
The BSE Consumer Durables index (up 0.92%), BSE Realty index (up 0.88%), BSE Teck index (down 0.22%), BSE IT index (down 0.23%), BSE Metal index (down 0.46%), BSE FMCG index (down 0.55%), BSE HealthCare index (down 0.64%), BSE Oil & Gas index (down 0.74%), outperformed the Sensex.
The BSE Capital Goods index (down 1.21%), BSE PSU index (down 1.07%), BSE Power index (down 1.04%), BSE Bankex (down 0.98%), BSE Auto index (down 0.76%) and underperformed the Sensex.
BSE clocked a turnover of Rs 5095 crore, higher than Rs 4508.11 crore on Tuesday, 9 February 2010.
Index heavyweight Reliance Industries (RIL) fell 0.92%. Reliance Industries has reportedly halted fuel sales to Iran from May 2009. Media reports on Tuesday, 9 February 2010, had quoted Iranian Ambassador to India Seyed Madhi Nabizadeh as saying that the Islamic nation was continuing to import fuel from Reliance Industries.
Meanwhile, RIL recently submitted a $2 billion expression of interest for Value Creation Inc, a Canada-based private firm which holds oil sands assets.
India's largest steel maker by sales Tata Steel fell 2.04% after shares of the world's largest steel maker ArcelorMittal fell sharply in Europe after Q4 results. ArcelorMittal shares fell after the firm's operating profit in the fourth quarter lagged estimates and the company's first-quarter outlook also was below guidance.
Steel Authority of India fell 2.25%, after Steel Secretary Atul Chaturvedi said there is no proposal for a bonus share issue.
Among other metal stocks, National Aluminum Company, Hindustan Zinc, JSW Steel, Jindal Steel & Power fell by between 0.21% to 3.42%.
Rate sensitive banking shares declined on fears a hike in interest rate following inflationary pressures in the domestic economy. India's largest private sector bank by net profit ICICI Bank fell 1.31%. Its ADR rose 4.38% on Tuesday. India's largest bank by net profit and branch network State Bank of India fell 2.14%. But, India's second largest private sector bank by net profit HDFC Bank rose 1.49%. Its ADR rose 2.35% on Tuesday.
India's largest power equipment maker by sales Bharat Heavy Electricals fell 1.27%. The company on Monday secured a contract for the electro-mechanical equipment package for a 1,200 megawatt hydroelectric project in Bhutan valued at Rs 1,016 crore.
India's largest engineering and construction firm by sales Larsen & Toubro fell 1.79%. The company said on Tuesday it won orders worth Rs 582 crore.
Among other capital goods stocks, Thermax, Praj Industries, SKF India fell by between 0.59% to 1.68%.
FMCG stocks fell on profit taking. ITC, Hindustan Unilever, Tata Tea and Nestle India fell by between 0.29% to 1.72%.
India's largest drug maker by sales Ranbaxy Laboratories rose 0.8% after Daiichi Sankyo said it will launch new innovative products in Mexico through the marketing division of Ranbaxy's Mexican subsidiary Ranbaxy Mexico.
But, the other healthcare stocks, Cipla, Dr Reddy's Laboratories, Sun Pharmaceutical Industries and Biocon fell by between 1.51% to 2.63%.
India's largest power utility firm by sales NTPC fell 1.6%. The company's follow on public offer managed to scrape through with the issue getting subscribed 1.2 times. The issue, through which the government is divesting 5% of its stake, at a floor price of Rs 201 a share, opened on 3 February 2010 and closed on 5 February 2010. At the floor price, the follow-on-public offer (FPO) is valued at Rs 8,286 crore.
Among other power stocks, Reliance Infrastructure, Reliance Power and Tata Power Company fell by between 0.95% to 1.72%.
Consumer durables stocks rose on hopes of higher consumer spending as disposable income increases. Rajesh Exports, Titan Industries, Videocon Industries, Blue Star rose by between 0.47% to 2.99%.
Rate sensitive auto stocks fell on rate hike worries by the Rserve Bank of India. India's largest commercial vehicle maker by sales Tata Motors fell 0.95%.
India's top small car manufacturer by sales Maruti Suzuki India fell 1.52%. As per reports the company expects a 20% growth in sales and hopes to double its exports to around 1.6 lakh units this fiscal ended March 2010.
India's biggest tractor maker by sales Mahindra & Mahindra (M&M) fell 3.42% extending Tuesday's 1.07% fall.
Two wheeler stocks rose. Hero Honda Motors, TVS Motor Company and Bajaj Auto rose by between 0.01% to 2.24%.
Rate sensitive realty shares rose on bargain hunting after a recent fall. Among other realty stocks, Indiabulls Real Estate, Unitech and Housing Development and Infrastructure rose by between 1.05% to 5.22%. But, India's largest realty firm by sales DLF fell 1.63%.
Infrastructure stocks rose on recent reports the government is considering new guidelines for private equity investment in infrastructure companies in an attempt to open new sources of equity funding for the sector. The move comes in the backdrop of the poor response from private companies and banks in financing projects, especially those in sectors like highways and urban transport and infrastructure. Gayatri Projects, Nagarjuna Construction Company, Valecha Engineering and Hindustan Construction Company rose by between 0.27% to 5.2%.
Telecom stocks were mixed on recent reports they will together save at least $1.5 billion this fiscal in capital expenditure thanks to their practice of sharing towers and accompanying infrastructure, giving them some respite from a brutal price war.
India's largest cellular services provider by sales Bharti Airtel rose 0.48%. But, India's second largest cellular services provider by sales Reliance Communications rose 0.09%.
Bharti Airtel and Reliance Communications, both reportedly plan to launch online mobile applications stores, opening up a new revenue stream from add-on services such as music and social networking. Bharti Airtel will provide more than 1,250 applications across 25 categories including games, books and social networking on its applications store. Reliance Communications said the first version of its applications store would go live for GSM customers by the end of February 2010, and by the end of March 2010 an expanded version would be available to its CDMA customers as well.
Cranes Software clocked the highest volume of 0.97 crore shares on BSE. Unitech (0.93 crore shares), Cals Refineries (0.91 crore shares), Sun TV Network (0.85 crore shares) and KRBL (0.77 crore shares) were the other volume toppers in that order.
Sun TV Network clocked the highest turnover of Rs 315.54 crore on BSE. AIA Engineering (189.02 crore), Jubilant FoodWorks (165.18 crore), Hindustan Copper (129.17 crore) and Tata Steel (Rs 120.26 crore) were the other turnover toppers in that order.
Daily Call - Feb 10 2010
Dow surged 1.52% yesterday, posting largest single day gain Since 9th November, boosted by reports that euro zone governments have decided in principle to help heavily indebted Greece. Commodities, including Oil & Gold gained as dollar declined.
Our markets closed in green for the third consecutive sessions, mainly on the back of short covering. Huge short covering was evident on the FII side, as they bought Index futures worth 1135 cr, while Nifty OI went down by 5%. However, in the cash segment they provisionally sold worth Rs. 525 cr. IT stocks, which put up a smart show in yesterday’s trade, will be in limelight today as well after Cognizant’s better than estimated earnings and forecast. Cement was another happening sector on the back of price rise buzz and can add to yesterday’s gain in today’s trade. Congress Core Committee’s meet to discuss the recommendations of the Kirit Parikh panel will have some sentimental impact on Oil PSUs. Litmus test of Nifty will start now as after today’s rise, lot of short covering, which has helped it rise in past 3 sessions, would be over. 4850-4950 is going to be a strong resistance zone.
Sensex may open higher
Headlines for the day
Government put Bt brinjal in cold storage, for now - Business Line
Auto companies record highest ever monthly sales in January - Business Line
Reliance MediaWorks raises stake in Fame - Business Standard
Hero Honda eyes Rs800 crore facility in Gujarat - Business Standard
RBI simplifies ECB procedure - Business Standard
Events for the day
Major corporate action:
Ex-date for stock split of Consolidated Construction from Rs10/- to Rs2/-.
Ex-date for interim dividend of Chromatic India, Ganesh Polytex, Jolly Board, KRBL, and Oil India
Ex-date for dividend of Mphasis Ltd
Ex-date for stock split of KRBL from Rs10/- to Re1/-.
Ex-date for consolidation of shares of Pitambar Coated Papers Ltd
Ex-date for reduction of capital of Pitambar Coated Papers Ltd
Ex-date for bonus issue of Mount Everest Trading in the ratio of 3:1.
Pre-market report
Global signals
The European stocks closed higher on Tuesday as banking stock gains the most. FTSE 100 closed 0.38% higher at 5111.
In US markets, Dow Jones registered its highest one-day percentage gain in three months to crosses the 10000 level. Nasdaq closed 1.17% higher.
In today's trade, Asian indices showing the mixed trend, as Indices like Hang Seng, Jakarta Composite and Straits Times are trading in negative territory, while indices like Nikkei, Kospi and Shanghai Composite are trading in green zone.
Indian markets
Owing to the strong global cues, Indian market may open higher and remain volatile throughout the session.
Among the local indices, the Nifty could test the 4850-4900 range on the up side, while on the down side it could find support at 4700 and 4750. While the Sensex is likely to get support at 15700 and may face resistance at 16300.
Indian ADR's
Among the Indian ADRs trading on the US bourses, All the ADRs closed higher. Patni Computer surged the most with gains of 8.06% followed by ICICI Bank that advanced by 4.38%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for March series down by $0.42 to settle at $73.33 a barrel.
In the metals space, Comex Gold for April series rose by $5.80 to settle at $1072.00 to a troy ounce.
In the metals space, Comex Silver for March series rose by $0.35 to settle at $15.43 to a troy ounce.
Daily trend of FII/MF investment in equities
On February 09, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs806.50 crore (with the gross purchase of Rs1741.80 crore and gross sales of Rs2548.30 crore).
While the Domestic mutual funds, on February 08, 2010, were the net buyers of the stocks in the tune of Rs37.10 crore (with gross purchase of Rs515.80 crore and gross sales of Rs478.80 crore).
Copper rises for second consecutive day
Slipping dollar increases the appeal of red metal as alternate investment
Copper prices ended higher on Tuesday, 09 February 2010. Prices rose as the dollar weakened thereby increasing the appeal of commodities as an alternate investment. Prices rose for second consecutive day. Today the dollar slipped following conflicting news about Greece's fiscal health and on conflicting reports whether Germany will come to its rescue.
At USA, copper futures for March delivery ended higher by 7.7 cents (2.6%) at $2.99 a pound. This year, till date, copper is lower by 13%. Copper ended FY 2009 higher by 140%.
At LME, copper for delivery in three months ended higher by $77 (1.2%) at $6,527. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
Copper ended substantially higher last year on expectations of revived global economic growth along with a decline in the dollar. The dollar index had dropped almost 4.2% last year. The metal was also pushed higher by record first-half imports to China, the world's largest user.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
In the currency market on Tuesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.8%. The euro advanced by almost 1% on reports that Michael Meister, deputy leader of the Christian Democratic Union/Christian Social Union in Bundestag, confirmed a rescue plan for Greece.
The dollar had risen to seven month high against its counterparts last week. Concern for the fiscal health of Greece had sent many global participants to seek safety in the U.S. dollar during recent sessions. However, speculation today that Greece could receive help from Germany gave the euro strength.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
At the MCX, copper for February delivery closed higher by Rs 6.15 (2.04%) at Rs 307.05/Kg. Prices rose to a high of Rs 308/Kg and fell to a low of Rs 300.6/Kg during the day's trading.
Among other metals traded in the LME on Tuesday, lead ended 1.4% higher at $1,992.75 a ton and zinc ended 0.8% higher to end at $2,038 a ton. Nickel ended 0.8% higher to end at $17,407. Aluminum ended 0.7% higher at $2,026 a ton.
Market may extend last three days gains on firm Asian stocks
The market may extend last three days gains on firm Asian stocks as reports of Greek aid plan reassure on global economy. Most Asian stocks rose on Wednesday after European officials said they may help Greece grapple with its budget deficit, easing concern a sovereign default will cripple a global economic recovery.
The key benchmark indices in China, Indonesia, Japan, South Korea, and Taiwan rose by between 0.04% to 1.53%. But the key benchmark indices in Singapore and Hong Kong fell by between 0.11% to 0.54%.
US stocks staged a powerful surge on Tuesday, 9 February 2010 on optimism that help was on the way for Greece to deal with its heavy debt burden. The greenback's pullback as the euro rallied amid speculation of Greece bailout also supported equities.The Dow Jones Industrial Average added 150.25 points, or 1.5%, to 10,058.64. The broader Standard & Poor's 500 Index gained 13.78 points, or 1.3, to 1,070.52, the Nasdaq Composite Index gained 24.82 points, or 1.2%, to 2,150.87.
German Finance Minister Wolfgang Schaeuble plans to brief lawmakers today on steps he may take to support the Greek government before the European Union holds a summit tomorrow. Olli Rehn, who takes over as European economic affairs commissioner tomorrow, said Greece has to “do the necessary measures” in exchange for the European Union's support.
Closer home, the government said on Monday India's economy would grow 7.2 % this fiscal year, picking up from a six-year low the previous year and underlining expectations that the Reserve Bank will raise rates in coming months. It also backed the market view that the government could announce steps to unwind its stimulus measures in the annual 2010/11 budget presentation on 26 February 2010 as a recovery in Asia's third-biggest economy shows a more solid footing. The Central Statistical Organisation forecast said it expected the economy in the year to the end of March to expand 7.2 %. It said manufacturing, a key growth driver, would grow 8.9 %, a sharp pick up from 2.4 % in the previous year.
Farm output would contract 0.2 % after the worst monsoon in 37 years, swinging from year-earlier growth of 1.6 %. Still, the latest forecast is higher than a 2 % contraction forecast by the prime minister's economic advisory commission in October 2009. Food prices were growing at an annual rate of more than 17 % in the second half of January but had been closer to 20 %.
Last month, the RBI revised up its growth estimate for 2009/10 to 7.5 % from 6.5 % and lifted its forecast for wholesale price inflation to 8.5 % from 6.5 %.Indian policymakers, including the Prime Minister Manmohan Singh, have said they expect the economy to grow around 7.5 % in the 2009/10 fiscal year. Earlier this moth, the International Monetary Fund forecast growth in 2009/10 of 6.75 %.
The Reserve Bank of India (RBI) has already raised bank reserve requirements as it starts to withdraw its crisis measures and it has warned of mounting inflation pressures, setting the stage for rates to rise.
A day after commerce and industry minister Anand Sharma hinted at partial withdrawal of stimulus packages, the Prime Minister's economic advisory council (PMEAC) chairman, C Rangarajan, said on Tuesday the process of fiscal consolidation must start with the Budget.
Industrial output data for the month of December 2009 which is due in coming days is expected to rise 12 % in December 2009 from a year earlier. A robust figure, ahead of the 26 February 2010 annual budget, would also allow the federal government, fighting a 16-year high fiscal deficit, to cut the deficit by phasing out fiscal stimulus. A strong rise would also help the central bank to focus better on containing inflation by raising interest rates in coming months. The industrial output rose 11.7% in November 2009.
Exports are reportedly likely to grow for the third consecutive month in January 2010, as per estimates of the commerce department, making the case for a possible withdrawal of the stimulus package for sectors that were doing well. The finance and commerce ministers are scheduled to meet later in the week to take a decision on the continuation of the stimulus package for exporters, commerce secretary Rahul Khullar has said. Exports grew 13% in January 2010 over a year ago he said.
Inflation numbers in the week ended 30 January 2010 will be out on Thursday 11 February 2010. Accelerating food inflation, largely because of a poor harvest and rising global commodity prices, has become a major concern for the government. Stock markets remains shut on Friday 12 February 2010 on account of Mahashivratri.
The key benchmark indices logged decent gains in what was a choppy trading session on Tuesday, 9 February 2010. After suffering an initial setback, the market staged a comeback as Asian stocks and US index futures rose. The BSE 30-share Sensex rose 106.57 points or 0.67% to 16,042.18 on that day.
As per provisional figures on NSE, foreign funds sold shares worth Rs 525.27 crore and domestic funds bought shares worth Rs 399.25 crore on Tuesday.
ARSS Infrastructure Projects gets good traction
By 16:00 IST on day two
The initial public offering (IPO) of Orissa based infrastructure company, ARSS Infrastructure Projects (AIPL) received bids for 86.37 lakh shares by 16:00 IST on day two as compared to 25.12 lakh shares on offer, data on NSE showed. The IPO was subscribed 3.44 times.
The company plans to raise Rs 103 crore via this issue with a price band of Rs 410-450 per share. The issue was opened for subscription on Monday, 8 February 2010 and will close on 11 February 2010.
The company is engaged in the business of construction activities in India. It undertakes construction of railway infrastructure, roads, highways, bridges and irrigation projects.
The proceeds of the issue are intended to be deployed for investment in joint ventures (at a cost of Rs 5 crore) and funding long term working capital requirement (cost of Rs 86 crore). The rest of amount will be used for issue expenses and general corporate purpose.
The company's order book position was at Rs 2877 crore as on 10 January 2010 and it had 145 projects in hand as on that date.
AIPL's net profit jumped 90% to Rs 51.04 crore on 99% growth in revenue to Rs 624.38 crore in the year ended 31 March 2009 over the year ended March 2008.
Crude ends higher
Prices rise for second straight day
Crude oil prices rose for the second straight day on Tuesday, 09 February 2010. Prices rose as the dollar slipped following conflicting news about Greece's fiscal health and on conflicting reports whether Germany will come to its rescue.
On Tuesday, crude-oil futures for light sweet crude for March delivery closed at $73.75/barrel (higher by $1.86 or 2.5%). Last week, crude ended lower by 2.3%. In January 2010, crude ended lower by 8.3%. On a year to date basis, crude is lower by 8.5%.
In the currency market on Tuesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.8%. The euro advanced by almost 1% on reports that Michael Meister, deputy leader of the Christian Democratic Union/Christian Social Union in Bundestag, confirmed a rescue plan for Greece.
The dollar had risen to seven month high against its counterparts last week. Concern for the fiscal health of Greece had sent many global participants to seek safety in the U.S. dollar during recent sessions. However, speculation today that Greece could receive help from Germany gave the euro strength.
Among other energy products on Tuesday, gasoline for March rose 3.6 cents to $1.93 a gallon. Heating oil for the same month gained 5.5 cents to $1.94 a gallon.
Also on Tuesday, natural gas for March delivery fell 11 cents to $5.29 per million British thermal units.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 49.8% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for February delivery closed Rs 72 (2.1%) higher at Rs 3,436/barrel. Natural gas for February delivery closed lower by Rs 8.3 (3.2%) at Rs 248.4/mmbtu.
Daily News Roundup - Feb 10 2010
Iran said it continues to import fuel from Reliance Industries, a statement contrary to that made by the Mukesh Ambani-controlled company that it had, since last year, stopped selling gasoline to the Islamic nation in an apparent bid to escape US sanctions. (BS)
Bharti Airtel and RCom announced their plans to launch mobile applications stores, joining global companies like Apple, Google, Motorola and BlackBerry. (ET)
Bharti Airtel accounts for 24% of SingTel’s profit of USS$991mn for the three-months ended December 2009. (ET)
ONGC has threatened to withdraw from over seven exploration blocks it had licenses for, if the Centre does not reimburse the taxes the company is paying on behalf of its joint venture partners for these blocks. (FE)
Hero Honda plans to set up Rs8bn greenfield facility in Gujarat for manufacturing bikes and also come up with ancillary units. (BS)
Wipro’s BPO arm plans to shift 20% of its workforce overseas in the next five years. (FE)
Coal India, along with the coal ministry and the Department of Divestment, will meet SEBI on February 19 to chart out the blueprint for its IPO. (BS)
Coal India has lowered its production target to 486mn tons from 520mn tons for the Eleventh Five Year Plan period in a mid-term review. (BS)
Mahindra Renault, a JV between M&M and Renault, has finalized a new roadmap for the troubled venture, details of which will be made public in 30-45 days. (BS)
SBI will continue with its limited period offer on home loans till the end of the current financial year. (ET)
BHEL bagged Rs10bn contract for supplying equipment to a hydro power project in Bhutan. (BL)
The Electrical & Gulf Projects Operating Company, which is part of L&T's construction division, secured orders worth Rs5.8bn for four electrical projects. (BL)
Adani Power plans to set up a 1,320MW coal-based thermal power plant in Madhya Pradesh. (BL)
Adani Power has decided to scrap one of its long-term power supply pacts with the apex power utility GUVNL, thus attracting a penalty of Rs1bn. (ET)
Court ruling allows Cipla to market generic cancer drug. (BL)
PFC may hive off its renewable energy business and consortium lending in early 2010-11 to leverage the current investment boom in green energy projects and diversify its asset base. (BS)
NIIT Technologies will launch its bundled cloud computing offerings from the first quarter of the next financial year. (BL)
GMDC is embarking on a line-up of projects involving investments of Rs40bn. (BL)
Reliance Capital Partners, an ADAG company, upped the ante against Fame India by raising its stake in the latter to 7.89% from 6.25% and also threatened regulatory action against the theatre chain. (BS)
Titan Industries plans to take the Titan brand to more countries in the Asian region over the next few years. (BL)
Bank of India has cancelled its US$500mn dollar denominated bond sale, citing volatility in credit markets. (ET)
Seven bidders, including Voltas, Deepak Fertilizers and Bharat Hotels have submitted requests for qualification to build Rs2.5bn terminal market in Thane district near Mumbai. (BS)
Kirloskar Brothers bagged an order from the Gujarat Water Supply and Sewage Board to install 10 solar pumping systems. (BS)
Strides Arcolab said the USFDA has granted market approval for its generic injectible drug for severe hypertension - labetalol hydrochloride. (BL)
US-based Purdue Pharma Products LP and UK-based Napp Pharmaceutical Group have sued Lupin and its US subsidiary, Lupin Pharma Inc, claiming that their attempt to manufacture and market the generic version of the analgesic tramadol ER infringes patent coverage of the innovator. (FE)
Bombay Dyeing said a meeting of its Board of Directors will be held to consider and approve a proposal for issue of warrants to promoters on a preferential basis. (BL)
Subex announced that it is raising up to Rs480mn through a preferential placement with an investment company of the promoter Subash Menon. (FE)
Goodyear India Ltd announced that its board has approved the proposal received from the parent company, Goodyear Tire & Rubber Company to buy out the remaining stake in the company and delist it from the stock market. (BL)
Golden Tobacco can proceed with its proposed plan to sell its non-core assets after a shareholder withdrew his objection to the sale. (ET)
Zee Turner, the TV channel distribution JV between the Turner Group and the Essel Group, said it would stop Hathway Datacomm from airing 33 channels, since it defaulted on its payments. (BS)
Ennore Coke plans to invest Rs750mn in scaling up its coke plant capacity at Haldia from 0.15mtpa to 0.3mtpa. (BS)
Spanish wind power equipment major Gamesa, whose windmill assembly plant in Chennai was inaugurated today, says it intends to spend €100mn in developing wind farms in India. (BL)
CalPERS, one of the largest public pension funds in the US with investments of ~US$1bn in Indian equities, is looking at infrastructure investments in India. (BS)
With hopes of raising funds through an IPO or selling a stake to a strategic investor fading due to stiff opposition from the unions, the government is working on a proposal for a private placement for BSNL. (BS)
The government is considering a proposal to set up Rs500bn India Infrastructure Debt Fund to meet the long-term needs of PPP projects by tapping foreign and domestic pension and insurance funds, sovereign funds and multilateral institutions. (BS)
The country’s merchandise exports in January are likely to rise 8% to US$14bn from US$12.9bn in the same month last year. (BS)
Prime Minister’s Economic Advisory Council Chairman C Rangarajan made a strong case for withdrawal of fiscal measures by the government to stimulate the economy. (BS)
The Planning Commission has recommended cutting short the Budget outlay of the power ministry by over 25% to Rs106.3bn for the next financial year against the ministry’s demand of Rs144.3bn. (BS)
The 1% cess levied on the construction activities by the Orissa government as per the provisions of the building and other construction workers’ welfare act, 1996, would be applicable to the projects taken up under RGGVY. (BS)
Power-starved Karnataka, which is facing a shortage of 20MU/day, plans to spend Rs3.5-4bn over the next three months to purchase 400MW power from independent power producers. (BS)
Despite political opposition, the Uttarakhand government is going ahead with its plan to privatise power distribution system in two cities. (BS)
Government expects India's spend on information technology and e-governance to touch about US$4bn during the next fiscal. (BL)
In a move that will make ECB easier and faster for corporates, RBI has allowed Authorised Dealers or banks to perform functions that earlier required the consent of the central bank. (BL)
State-run Food Corporation of India will export 50,000 tons of wheat to Nepal. (FE)
To contain rising sugar prices, the government is planning to restrict bulk users of sugar like soft drinks and ice-cream makers from procuring the sweetener locally and instead meet their requirements through imports. (FE)
Courage on the street!
A man of courage never needs weapons, but he may need bail.
A Greek-tragedy may have been averted! In what could be the first financial rescue in the 11-year old history of the 16-member eurozone, Greece is likely to receive aid to help it reduce its massive debt. The big question is whether other troubled EU nations like Portugal, Spain and Ireland too will get similar bailouts? A few may be perturbed by the recurring financial problems and their subsequent bailouts.
For now though, risk appetite seems to be back, at least temporarily. The dollar index slid below 80 and the euro had its biggest gain against the greenback in two months. Gold and crude oil also advanced. The Dow Jones had its biggest gain since Jan. 4. Stocks in Europe, however, missed out on much of the Greek-related rally. Asian markets are mostly higher.
We expect a positive start for Indian stocks on healthy global cues. But, don’t take undue risks, as the near-term outlook remains cloudy. A big worry is the continuous selling by FIIs, though local funds remain bullish. Budget could prove to be an important catalyst apart from of course the global events.
Technically, the Nifty has short-term support at 4700 while resistance is likely at around 4900. It has to decisively surpass 4950 if it is to reclaim the coveted 5000 level. The Nifty has a strong support at 200 DMA i.e. 4640 in case of another major selloff.
Meanwhile, Federal Reserve chairman Ben S. Bernanke is expected to release testimony on his vision for easing the US away from its current ultra-loose monetary policy. And while Bernanke may talk a lot about exit, he is going to make it clear that the central bank is also not in a hurry to take away the punching ball.
Indian markets ended almost near day’s high with the BSE Sensex reclaiming the 16,000 levels. The smart upswing was on the back of firm cues from the European markets and buying momentum witnessed in the IT and the telecom heavyweights. However, the Oil & Gas and the Realty stocks were among the major laggards.
The BSE Sensex ended 106 higher points at 16,042 after touching a high of 16,094 and a low of 15,862. The Nifty added 32 points to end at 4,792.
Equity markets in Asia ended in the mixed. The Nikkei in Japan was down 0.3%, while Australia's S&P/ASX ended lower by 0.4%. The Shanghai SE Composite ended higher by 0.4% and Hang Seng index in Hong Kong added 1.2%.
In Europe, stocks were trading higher. The DAX in Germany was up 0.5% and the CAC 40 index in France was up 0.3%. The FTSE in the UK was up 0.6%.
Coming back to India, among the BSE sectoral indices, the BSE IT index was the top gainer, adding 2.6%, followed by Teck index that was up 2.1% and BSE PSU index was up 1.7%. The BSE Mid-Cap and BSE Small-Cap index both added 0.5% each.
Among the 30-components of Sensex 19 ended in the positive terrain and 11 ended in the red. Grasim, ACC, Infosys, Wipro, Sun Pharma and Reliance Infra were among the top gainers. On the other hand, major losers were Hindalco, DLF, Hindustan Unilever, M&M and Maruti.
Outside the frontline indices, the big gainers in the broader market were Hindustan Copper, NMDC, LITL and Financial Tech. On the other hand, losers included Gujarat NRE Coke, Petronet LNG, Tata Comm and Biocon.
India’s car sales rose 32% in the month of January to 1,45,905 units as against 1,10,300 units from a year ago, the Society of Indian Automobile Manufacturers (SIAM) showed.
Sales of trucks and buses jumped 131% to 53,447 units as against 23,154 units in the sme period last year. While, two wheeler sales rose 43% to 8,34,383 as compared to 5,81,729.
Reliance Industries has reportedly bid to acquire 65% of Value Creation Inc., Canada. Value Creation founders want to retain a 30% to 40% stake, reports added. Shares of Reliance Industries ended flat at Rs993, it opened at Rs993 it touched an intra-day high of Rs998 and a low of Rs982 and recorded volumes of over 0.63mn shares on BSE.
Shares of L&T added 1.2% to end at Rs1462 after the company announced that it secured order Rs5.82bn for execution of Electrical Projects. The scrip opened at Rs1440 it touched an intra-day high of Rs1465 and a low of Rs1434 and recorded volumes of over 0.39mn shares on BSE.
Strides Arcolab announced that it received ANDA approval for Labetalol Hydrochloride (HCl) injection, USP, 100 mg per 20 mL and 200 mg per 40 mL, Multi-dose Vials. Labetalol is the third product launched under the partnership between Strides and Sagent Pharmaceuticals. Under this partnership, Strides and Sagent are jointly developing, supplying and marketing more than 25 injectable products for the U.S. market.
Shares of Strides Arcolab shot up by over 13% to end at Rs310. The scrip opened at Rs270 it touched an intra-day high of Rs320 and a low of Rs270 and recorded volumes of over 0.8mn shares on BSE.
Shares of Jet Airways gained by 3% to end at Rs485 after reports stated that the company may enter a joint venture or an alliance with Fedex Corp. for a cargo airline. The scrip opened at Rs478 it touched an intra-day high of Rs490 and a low of Rs472 and recorded volumes of over 0.14mn shares on BSE.
Sadbhav Engineering announced that the consortium won the project "4 laning of Bijapur - Hungund Section of NH-13 from km 102.000 to km 202.000 in the state of Karnataka on Design, Build, Finance, Operate and Transfer ("DBFOT"), Toll basis under NHDP Phase-III (Package No. NHDP-III/BOT/KNT/05)" from The General Manager (Tech), National Highways Authority of India (Ministry of Road Transport and Highways) G-5&6, Sector-10, Dwarka, New Delhi-l10075 in the name of Joint Venture known as 'SEL-MCL Consortium' in the ratio of 77:23 respectively.
The stock ended lower by 1.1% at Rs1193, it opened at Rs1215 it touched an intra-day high of Rs1294 and a low of Rs1180 and recorded volumes of over 7,000 shares on BSE.
Shares of Subex surged over 9% to end at Rs66.3 after the company announced that it was planning to raise up to Rs480mn through Preferential Placement. The scrip opened at Rs61.95 it touched an intra-day high of Rs66 and a low of Rs61.9 and recorded volumes of over 4.3mn shares on BSE.
Precious metals on a roll
Prices go up further as dollar slumps
Precious metal prices rose for the second straight day on Tuesday, 09 February 2010. Prices rose as the dollar slipped following conflicting news about Greece's fiscal health and on reports whether Germany will come to its rescue.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Tuesday, gold for April delivery ended at $1,077.2 an ounce, higher by $11 (1%) an ounce on the New York Mercantile Exchange. In these two days, gold has gained 2.3% and partly recovered the 6% drop it witnessed before that in three sessions. Last week, gold lost 2.9%. For January 2010, gold lost 1.2%. Year to date, gold has shed 1.6%.
On Tuesday, March Comex silver futures ended higher by 35.5 cents (2.3%) at $15.44 an ounce. Last week, silver ended lower by 7.8%. In January 2010, silver shed 3.9%. Year to date in FY 2010, silver has dropped by almost 7.7%.
In the currency market on Tuesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.8%. The euro advanced by almost 1% on reports that Michael Meister, deputy leader of the Christian Democratic Union/Christian Social Union in Bundestag, confirmed a rescue plan for Greece.
The dollar had risen to seven month high against its counterparts last week. Concern for the fiscal health of Greece had sent many global participants to seek safety in the U.S. dollar during recent sessions. However, speculation today that Greece could receive help from Germany gave the euro strength.
Precious metal prices started slipping since past couple of weeks due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand of metals in coming months.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end. Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.
At the MCX, gold prices for April delivery closed higher by Rs 43 (0.3%) at Rs 16,319 per ten grams. Prices rose to a high of Rs 16,383 per 10 grams and fell to a low of Rs 16,225 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 284 (1.2%) higher at Rs 24,515/Kg. Prices opened at Rs 24,159/kg and rose to a high of Rs 24,644/Kg during the day's trading.
Lanco Infratech
We recommend a buy in Lanco Infratech from a short-term perspective. It is apparent from the charts that the stock has been on longer term uptrend since its all-time low of Rs 8.3 recorded in October 2008. However, the stock met with a key resistance around Rs 60 in December 2009 and was on a medium-term countertrend until it found significant support around Rs 41. This countertrend had approximately retraced 38.2 per cent fibonacci retracement of the stock's prior up move. Subsequently, the stock rebounded taking support from Rs 41. It appears to have resumed the uptrend as it penetrated the immediate resistance at Rs 46 by gaining almost 7 per cent on February 9. We observe that there is an increase in volumes over the past two sessions. The daily relative strength index has entered the neutral region from the negative zone and weekly RSI is featuring in the neutral region. Moreover, the daily moving average convergence and divergence indicator has signalled a buy. We are bullish on the stock from a short-term perspective. We anticipate it to moving up until it hits our short-term price target of Rs 54.5. Traders with short-term perspective can consider buying the stock while maintaining stop-loss at Rs 46.5.
via BL
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