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Wednesday, February 17, 2010
Stocks moved to Trade to Trade Segment
| List of securities to be shifted from rolling segment (series: EQ) to trade for trade segment (series: BE) with a price band of 5% with effect from February 19, 2010 (Friday). | |||
| Sr. No. | Symbol | Name of the security | ISIN |
| 1 | AICHAMP | AI Champdany Industries Limited | INE768E01024 |
| 2 | AMLSTEEL | AML Steel Limited | INE577F01018 |
| 3 | AVANTI | Avanti Feeds Limited | INE871C01012 |
| 4 | BEARDSELL | Beardsell Limited | INE520H01014 |
| 5 | BLUECOAST | Blue Coast Hotels and Resorts Limited | INE472B01011 |
| 6 | CHEMFALKAL | Chemfab Alkalis Limited | INE479E01028 |
| 7 | DECOLIGHT | Decolight Ceramics Limited | INE172I01012 |
| 8 | FIRSTWIN | First Winner Industries Limited | INE315J01015 |
| 9 | HIMACHLFUT | Himachal Futuristic Communications Limited | INE548A01010 |
| 10 | HOCL | Hindustan Organic Chemicals Ltd | INE048A01011 |
| 11 | HONDAPOWER | Honda Siel Power Products Ltd. | INE634A01018 |
| 12 | JDORGOCHEM | JD Orgochem Limited | INE263B01022 |
| 13 | KAVVERITEL | Kavveri Telecom Products Limited | INE641C01019 |
| 14 | KITPLYIND | Kitply Industries Ltd | INE147B01019 |
| 15 | KSERAPRO | K Sera Sera Productions Limited | INE216D01018 |
| 16 | KWALITY | Kwality Dairy (India) Limited | INE775B01025 |
| 17 | MVLIND | MVL Industries Limited | INE141B01020 |
| 18 | NUCENT | Nucent Finance Limited | INE980A01023 |
| 19 | ORIENTALTL | Oriental Trimex Limited | INE998H01012 |
| 20 | POLYPLEX | Polyplex Corporation Ltd. | INE633B01018 |
| 21 | PTL | PTL Enterprises Limited | INE034D01031 |
| 22 | RMEDIA | Reliance Media World Limited | INE445K01018 |
| 23 | SOFTPRO | Softpro Systems Limited | INE117B01012 |
| 24 | SUPRAJIT | Suprajit Engineering Limited | INE399C01022 |
| 25 | SURANACORP | Surana Corporation Limited | INE357D01010 |
| 26 | THINKSOFT | Thinksoft Global Services Limited | INE201K01015 |
| 27 | TULSYAN | Tulsyan Nec Limited | INE463D01016 |
| 28 | WEIZMANIND | Weizmann Ltd | INE080A01014 |
| 29 | WENDT | Wendt (India) Ltd. | INE274C01019 |
Sensex ends higher; CD, Metal surge
Indian equities continued to rally for the second day on Wednesday. The Sensex ended on a higher note aided by consumer durable, metal and banking stocks except realty. It opened positive amid strong global cues and continued to rally further as buying intensified across all counters to finally close on a strong note after touching a high of 16,480.89.
At the close, the benchmark 30-share index, BSE Sensex gained 202.23 or 1.25% at 16,428.91 with 22 components registering rise. Meanwhile, the broad based NSE Nifty climbed by 58.25 or 1.20% at 4,914.00 with 34 components registering rise.
On global front, European stocks gained for a third straight day after results from BNP Paribas and Deutsche Boerse beat analysts` estimates. US index futures advanced. BNP Paribas rose 2% after France`s largest bank posted its fourth straight quarterly profit. Deutsche Boerse climbed almost 2.5% after reporting a smaller-than-expected loss.
Sensex Movers
Reliance Industries contributed rise of 32.18 points in the Sensex. It was followed by Tata Steel (29.01 points), HDFC Bank (24.62 points), Larsen & Toubro (20.31 points) and Hindalco Industries (13.66 points).
However, Infosys Technologies contributed fall of 10.26 points in the Sensex. It was followed by DLF (2.35 points), Oil & Natural Gas Corporation (1.64 points), NTPC (1.35 points) and Hero Honda Motors (0.2 points).
Biggest gainers in the 30-share index were Tata Steel (6.37%), Hindalco Industries (5.20%), Sterlite Industries (India) (3.54%), HDFC Bank (2.95%), Bharti Airtel (2.44%), and Reliance Communications (1.97%).
On the other hand, D L F (1.34%), Infosys Technologies (0.62%), NTPC (0.39%), Oil & Natural Gas Corporation (0.26%), Hero Honda Motors (0.09%), and ACC (0.08%) were the major losers in the Sensex.
Mid & Small-cap Space
Andrew Yule and Company (1.67%), Astrazeneca Pharma India (1.22%), Aurobindo Pharma (0.75%), Reliance MediaWorks (0.24%) and Ackruti City (0.2%).
Sectors in Limelight
The Consumer Durables index was at 4,117.02, up by 133.02 points or by 3.34%. The major gainers were Videocon Industries (8.67%), Titan Industries (3.8%), Gitanjali Gems (0.93%) and Blue Star (0.84%).
The Metal index was at 16,435.14, up by 515.14 points or by 3.24%. The major gainers were Hindalco Industries (5.2%), Gujarat N R E Coke (3.45%), Hindustan Zinc (2.74%), Jai Corp (2.17%) and Jindal Steel & Power (0.28%).
The Bankex index was at 9,605.45, up by 165.45 points or by 1.75%. The major gainers were HDFC Bank (2.95%), Bank Of India (2.05%), Bank Of Baroda (1.08%), Federal Bank (0.14%) and Allahabad Bank (0.07%).
On the other hand, the Realty index was at 3,372.49, down by 33.94 points or by 1%. The major losers were Indiabulls Real Estate (3.29%), Ansal Properties and Infrastructure (1.59%), D L F (1.34%), Mahindra Lifespace Developers (0.51%) and Ackruti City (0.2%).
Market Breadth
Market breadth was positive with 1,690 advances against 1,131 declines.
Value and Volume Toppers
Tata Steel topped the value chart on the BSE with a turnover of Rs. 1,972.25 million. It was followed by Ruchi Soya Industries (Rs. 1,210.20 million), V I P Industries (Rs. 953.36 million) and Reliance Industries (Rs. 925.98 million).
The volume chart was led by Ruchi Soya Industries with trades of over 13.43 million shares. It was followed by Mahindra Satyam (7.89 million), Dynamic Infotel (6.67 million) and K Sera Sera Productions (5.42 million).
Up for second day
Today's major news
HDFC extends home loan offer at 8.25%; the stock rises 1.30%
Larsen & Toubro to invest $400 million; the stock closes 1.93% higher
F&O Inclusion lights up Videocon Industries; the stock shots up 8.67%
Areva T&D hardens on winning order; the stock jumps 4.07%
Tata Consultancy Services to review salary hikes by month-end; the stock finishes the day 0.44% higher
Post-market summary
Global signals
European indices rose for the third consecutive day, after forecast beating results from BNP Paribas led banking stocks to rise. At the time of writing this report FTSE 100 is up by 0.76%.
All the major Asian indices closed higher. Shanghai Composite was closed today. SGX Nifty closed 18 points higher.
US stock futures opened higher ahead of key data on industrial production for January that will be declared later in the day.
Indian indices
Capitalising on buoyant global cues, Indian indices closed higher for the second straight session on gains in heavyweights like Tata Steel, Hindalco Industries and Reliance Industries. The Sensex opened three points higher at 16229 and never looked back. Tremendous buying in consumer durable and metal stocks helped the Sensex to touch the day’s high of 16481. At finishing line, the Sensex was at 16429, 202 points higher over its yesterday’s close. Nifty closed 58 points higher at 4914.
Market sentiment
The market breadth was positive. Of 2,910 stocks traded on the BSE, 1,702 stocks advanced, whereas 1,117 stocks declined. Ninety-one stocks closed unchanged
Sectoral & stock screening
Metal and consumer durables drew interest, while realty and information technology scrips fell slightly out of favour. Of the 13 sector indices only BSE BSE Realty (down 0.93%) and BSE IT (down 0.36%) were lower. The remaining 10 sector indices closed higher. BSE Consumer Durable (CD) surged by 3.59%--the most for any indices--followed by BSE Metal that rose 3.22% for the day.
On stocks front, the top three gainers were Videocon Industries (up 8.67%), Godrej Industries (up 8.20%) and Mundra Port (up 7.35%). The top two losers were Indiabulls Real Estate (down 3.29%) and Bharat Forge (down 2.16%).
Viewing volumes
Wind power major Suzlon Energy was the most actively traded share with over 0.53 crore shares changing hands on the BSE followed by India’s second largest infrastructure company Unitech (0.35 crore shares), Steel major Tata Steel (0.33 crore shares), industrial finance company IFCI (0.28 crore shares) and India’s leading telecom operator Bharti Airtel (0.28 crore shares
BSE Bulk Deals to WAtch - Feb 17 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
17/2/2010 513513 Aditya Ispat SANTOSH GUPTA B 26643 8.01
17/2/2010 522005 Austin Engr USMAN MOH HANIF POOTHAWALA B 35249 87.29
17/2/2010 522005 Austin Engr KASAMBHAI U SHEKH B 34007 82.95
17/2/2010 522005 Austin Engr PUNEET MAHAJAN S 22610 83.07
17/2/2010 532995 Avon Corp VINOD AMRATLAL NAAI B 336102 8.58
17/2/2010 532995 Avon Corp VINOD AMRATLAL NAAI S 449706 8.58
17/2/2010 531591 Bampsl Sec KALPANA AGRAWAL B 500000 1.05
17/2/2010 531591 Bampsl Sec NAVAL KISHORE GUPTA B 395861 1.09
17/2/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 433639 1.15
17/2/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA S 700000 1.07
17/2/2010 511607 Birla Shloka MOHAN LAL AGARWAL B 124134 48.66
17/2/2010 511607 Birla Shloka MAHESH MEETAL B 100679 49.25
17/2/2010 511607 Birla Shloka ARIHANT SEC & INVESTMENT B 72530 48.10
17/2/2010 511607 Birla Shloka PUSHKAR BANIJYA LIMITED B 189609 49.40
17/2/2010 511607 Birla Shloka NIRAJHAR SUKHLAL SANGHAVI B 221446 48.67
17/2/2010 511607 Birla Shloka NIRAJHAR SUKHLAL SANGHAVI S 221446 49.38
17/2/2010 511607 Birla Shloka RAVISHAN KARAN S 260287 48.97
17/2/2010 511607 Birla Shloka ARIHANT SEC & INVESTMENT S 72530 48.10
17/2/2010 511607 Birla Shloka MOHAN LAL AGARWAL S 196114 48.81
17/2/2010 531337 Channel Guide SANJAY HIRAMAN PAWAR B 30000 12.95
17/2/2010 531337 Channel Guide RAKESH RASIKLAL KHARSANI S 54025 13.02
17/2/2010 531337 Channel Guide HEMCHAND JAIN S 55000 12.95
17/2/2010 532184 Ciba India RELIANCE MUTUAL FUND A/C RELIANCE LONG TERM EQUITY FUND S 200000 305.02
17/2/2010 508860 Diamant Invest ARUNA ANILKUMAR TAORI B 9250 44.04
17/2/2010 508860 Diamant Invest A S STOCK BROKING AND MANAGEMENT PVT LTD B 7250 48.30
17/2/2010 508860 Diamant Invest A S STOCK BROKING AND MANAGEMENT PVT LTD S 7250 44.00
17/2/2010 508860 Diamant Invest ARUNA ANILKUMAR TAORI S 9250 48.30
17/2/2010 524830 Elder Health AJAY HAMLAI S 26000 74.16
17/2/2010 504000 Elpro Intl CRESTA FUND LIMITED B 410000 552.25
17/2/2010 504000 Elpro Intl MAVI INVESTMENT FUND S 410000 552.25
17/2/2010 511668 Fact Enterprise COMFORT INTECH LIMITED B 61000 22.06
17/2/2010 511668 Fact Enterprise SUVIDHA SECURITIES PVT LTD B 100000 22.22
17/2/2010 511668 Fact Enterprise MANISH SHAHTILAL AJMERA S 51500 22.36
17/2/2010 511668 Fact Enterprise XITIJ INVESTMENTS S 73748 21.88
17/2/2010 511668 Fact Enterprise MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV S 31200 22.05
17/2/2010 500142 FGP VISHAL AGARWAL B 67184 5.52
17/2/2010 513059 GS Auto SANJAYKUMAR CHAMPAKLAL SHAH B 43000 54.69
17/2/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE B 104852 52.88
17/2/2010 513059 GS Auto J V STOCK BROKING PRIVATE LIMITED B 69047 52.60
17/2/2010 513059 GS Auto NILESH EKNATH BHOIR B 119415 53.79
17/2/2010 513059 GS Auto J V STOCK BROKING PRIVATE LIMITED S 69047 52.90
17/2/2010 513059 GS Auto NILESH EKNATH BHOIR S 45977 54.79
17/2/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE S 104640 55.14
17/2/2010 504036 Hind Rectifiers SMART EQUITY BROKERS PRIVATE LIMITED B 55492 90.60
17/2/2010 504036 Hind Rectifiers TRANSGLOBAL SECURITIES LTD. B 95449 87.61
17/2/2010 504036 Hind Rectifiers MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 64212 87.68
17/2/2010 504036 Hind Rectifiers RKSV SECURITIES INDIA PRIVATE LIMITED B 69017 86.31
17/2/2010 504036 Hind Rectifiers SHYAM SUNDER BIYANI B 62232 86.14
17/2/2010 504036 Hind Rectifiers ANGEL INFIN PRIVATE LIMITED B 51142 87.88
17/2/2010 504036 Hind Rectifiers MANSUKH SECURITIES & FINANCE LTD B 38547 86.11
17/2/2010 504036 Hind Rectifiers SANJEEV SINGHAL B 71113 89.77
17/2/2010 504036 Hind Rectifiers OPG SECURITIES P LTD B 53782 89.48
17/2/2010 504036 Hind Rectifiers OPG SECURITIES P LTD S 53782 89.57
17/2/2010 504036 Hind Rectifiers SANJEEV SINGHAL S 71113 89.84
17/2/2010 504036 Hind Rectifiers MANSUKH SECURITIES & FINANCE LTD S 38547 86.08
17/2/2010 504036 Hind Rectifiers ANGEL INFIN PRIVATE LIMITED S 40415 88.15
17/2/2010 504036 Hind Rectifiers SHYAM SUNDER BIYANI S 62232 86.06
17/2/2010 504036 Hind Rectifiers RKSV SECURITIES INDIA PRIVATE LIMITED S 69017 85.65
17/2/2010 504036 Hind Rectifiers MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 64212 87.98
17/2/2010 504036 Hind Rectifiers SMART EQUITY BROKERS PRIVATE LIMITED S 55492 90.51
17/2/2010 504036 Hind Rectifiers TRANSGLOBAL SECURITIES LTD. S 94449 87.68
17/2/2010 523467 Jai Mata Glass BHARAT DEVANDAS MULCHANDANI B 80000 3.95
17/2/2010 523467 Jai Mata Glass JMP SECURITIES PVT LTD B 67134 3.95
17/2/2010 523467 Jai Mata Glass MANSI MILAN CHOKSI S 95069 3.89
17/2/2010 506520 Jayshree Chem BDS SHARE BROKERS PVT LTD B 41506 19.48
17/2/2010 506520 Jayshree Chem BDS SHARE BROKERS PVT LTD S 41506 19.61
17/2/2010 506520 Jayshree Chem VINOD KUAMR MOHATA S 37385 19.32
17/2/2010 532624 Jindal Photo JMP SECURITIES PVT LTD B 187656 214.39
17/2/2010 532624 Jindal Photo OPG SECURITIES P LTD B 67953 204.65
17/2/2010 532624 Jindal Photo OPG SECURITIES P LTD S 67953 205.01
17/2/2010 532624 Jindal Photo JMP SECURITIES PVT LTD S 187656 214.75
17/2/2010 530955 Kailash Ficom KASTURI TOWERS LTD B 58000 49.87
17/2/2010 530255 KAY Power BAMPSL SECURITIES LTD B 89816 17.13
17/2/2010 530255 KAY Power NAVAL KISHORE GUPTA B 80790 16.83
17/2/2010 530255 KAY Power KAILASH CHAND GUPTA B 78000 15.82
17/2/2010 530255 KAY Power NAVAL KISHORE GUPTA S 100000 15.81
17/2/2010 530255 KAY Power JOLLY GUPTA S 56790 15.82
17/2/2010 530255 KAY Power BAMPSL SECURITIES LTD S 68832 16.25
17/2/2010 532967 Kiri Dyes OPG SECURITIES P LTD B 78059 700.83
17/2/2010 532967 Kiri Dyes OPG SECURITIES P LTD S 78059 702.23
17/2/2010 531366 Kohinoor Broad S V ENTERPRISES B 610062 5.49
17/2/2010 524000 Magma Fin NILKANTH DEALERS PRIVATE LIMITED B 122882 215.17
17/2/2010 524000 Magma Fin NILKANTH DEALERS PRIVATE LIMITED S 122882 217.73
17/2/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 1500000 4.81
17/2/2010 531515 Mahan Inds SHASHI SINGHVI S 400000 4.81
17/2/2010 532986 Niraj Cement BALCHAND DANI B 53615 56.02
17/2/2010 531791 Novagold Petro PRAVIN UMEDMALJI JAIN B 33000 3.87
17/2/2010 531791 Novagold Petro JYOTSANA PRAVIN PARMAR B 33000 3.87
17/2/2010 531791 Novagold Petro CHANCHAL SIYARAM GARG B 38000 3.87
17/2/2010 531791 Novagold Petro SIYARAM GARG B 37000 3.87
17/2/2010 531791 Novagold Petro NILESH KRUSHNA PALANDE S 159500 3.88
17/2/2010 512097 Oregon Comm SHIVA INVESTMENT B 5000 163.55
17/2/2010 512097 Oregon Comm OMPARKASH GUPTA B 9786 166.15
17/2/2010 512097 Oregon Comm KRUPA SANJAY SONI B 35894 166.64
17/2/2010 512097 Oregon Comm NIRAJ SUBHASH GANDHI B 5000 170.25
17/2/2010 512097 Oregon Comm VIMAL RATHOD B 4901 165.55
17/2/2010 512097 Oregon Comm MANDEEP SINGH DHILLON B 5000 170.77
17/2/2010 512097 Oregon Comm AXIOM CAPITAL ADVISORS PRIVATE LIMITED B 5900 168.81
17/2/2010 512097 Oregon Comm AXIOM CAPITAL ADVISORS PRIVATE LIMITED S 5900 164.37
17/2/2010 512097 Oregon Comm MEHUL SHANTILAL SANCHETI S 6000 159.10
17/2/2010 512097 Oregon Comm KRUPA SANJAY SONI S 35355 164.67
17/2/2010 512097 Oregon Comm SHIVA INVESTMENT S 5000 170.71
17/2/2010 512097 Oregon Comm OMPARKASH GUPTA S 8167 164.80
17/2/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 47602 30.65
17/2/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 46495 31.75
17/2/2010 511702 Parsharti Inv NIRMALA MAHIPAL S 20200 32.08
17/2/2010 511702 Parsharti Inv J M SONI CONSULTANCY S 15500 29.74
17/2/2010 511702 Parsharti Inv PATEL SHAILESH JIVANLAL S 86367 30.76
17/2/2010 531769 PFL Infotech ROOPLATA MANAKCHAND JAIN B 83647 14.55
17/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 56021 33.00
17/2/2010 500368 Ruchi Soya V S NET LTD B 7000000 90.00
17/2/2010 500368 Ruchi Soya FINDEAL INVESTMENTS PVT LTD S 1634790 90.00
17/2/2010 500368 Ruchi Soya DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 3811843 90.04
17/2/2010 500368 Ruchi Soya XITIJ INVESTMENTS S 1570237 90.12
17/2/2010 532793 Shree Ashtavina AVR OVERSEAS PVT LTD S 975690 17.30
17/2/2010 522085 Stone India CAPITAL CONSULATNCY S 51960 75.91
17/2/2010 590047 Sunderam Multi STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND S 400000 44.05
17/2/2010 517534 SV Electricals AMBARISH KHAITAN B 35000 36.22
17/2/2010 517534 SV Electricals CHANDRABHAN GUPTA S 35000 36.20
17/2/2010 533157 SYNCOM HEAL RKSV SECURITIES INDIA PRIVATE LIMITED B 121025 83.83
17/2/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD B 105807 83.67
17/2/2010 533157 SYNCOM HEAL SANJEEV SINGHAL B 112792 83.71
17/2/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD S 105807 83.63
17/2/2010 533157 SYNCOM HEAL SANJEEV SINGHAL S 112792 83.67
17/2/2010 533157 SYNCOM HEAL RKSV SECURITIES INDIA PRIVATE LIMITED S 121025 83.83
17/2/2010 507880 VIP Inds OPG SECURITIES P LTD B 243991 279.48
17/2/2010 507880 VIP Inds SANJEEV SINGHAL B 181279 279.76
17/2/2010 507880 VIP Inds SMART EQUITY BROKERS PRIVATE LIMITED B 179210 280.82
17/2/2010 507880 VIP Inds SMART EQUITY BROKERS PRIVATE LIMITED S 179210 281.26
17/2/2010 507880 VIP Inds OPG SECURITIES P LTD S 243991 279.74
17/2/2010 507880 VIP Inds SANJEEV SINGHAL S 181279 279.88
17/2/2010 531249 Well Pack Papers NIOL IMPEX PRIVATE LIMITED B 42405 438.63
17/2/2010 531249 Well Pack Papers SANDEEP GOMASE B 32505 438.39
17/2/2010 531249 Well Pack Papers RAMESHBHAI V PARMAR S 23602 439.25
17/2/2010 531249 Well Pack Papers SANDEEP GOMASE S 32505 438.98
17/2/2010 514348 Winsome Yarns DINESH BROTHERS PVT LTD B 3000000 1.69
17/2/2010 514348 Winsome Yarns SATYAM COMBINES PVT LTD S 3000000 1.69
* B - Buy, S - Sell
NSE Bulk deals to Watch - Feb 17 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-FEB-2010,DSKULKARNI,DS Kulkarni Dev. Ltd.,A. K. CAPITAL FINANCE PRIVATE LIMITED,BUY,346203,67.89,-
17-FEB-2010,FAME,Fame India Limited,RELIANCE CAPITAL PARTNERS,BUY,1000000,75.60,-
17-FEB-2010,GMRFER,GMR Ferro Alloys & Indust,JANARDHANAN S,BUY,100000,33.85,-
17-FEB-2010,HIRECT,Hind Rectifiers Limited,MANIPUT INVESTMENTS PVT. LTD.,BUY,77973,87.81,-
17-FEB-2010,HIRECT,Hind Rectifiers Limited,TRANSGLOBAL SECURITIES LTD.,BUY,86183,88.20,-
17-FEB-2010,JINDALPHOT,Jindal Photo Limited,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,53260,211.04,-
17-FEB-2010,JINDALPHOT,Jindal Photo Limited,JMP SECURITIES PVT LTD,BUY,143399,214.78,-
17-FEB-2010,KOTAKNIFTY,Kotak Nifty ETF,KOTAK SECURITIES LTD.,BUY,21178,490.00,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,AVR OVERSEAS PVT LTD,BUY,170000,17.35,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,BUY,976966,17.37,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANS FINANCIAL RESOURCES LTD,BUY,424000,17.35,-
17-FEB-2010,SYNCOM,Syncom Healthcare Ltd,ALFA FISCAL SERVICES PVT LTD,BUY,74939,83.07,-
17-FEB-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,74692,83.74,-
17-FEB-2010,VIPIND,VIP Industries Ltd.,INVENTURE FINANCE PRIVATE LIMITED,BUY,28265,290.49,-
17-FEB-2010,VIPIND,VIP Industries Ltd.,VISHAL KISHORE BHATIA,BUY,300000,282.07,-
17-FEB-2010,BHARTISHIP,Bharati Shipyard Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,SELL,148627,276.25,-
17-FEB-2010,DSKULKARNI,DS Kulkarni Dev. Ltd.,SECOND LEASING PRIVATE LIMITED,SELL,346203,67.89,-
17-FEB-2010,GMRFER,GMR Ferro Alloys & Indust,JANARDHANAN S,SELL,100000,30.51,-
17-FEB-2010,HIRECT,Hind Rectifiers Limited,MANIPUT INVESTMENTS PVT. LTD.,SELL,77973,88.01,-
17-FEB-2010,HIRECT,Hind Rectifiers Limited,TRANSGLOBAL SECURITIES LTD.,SELL,86183,88.27,-
17-FEB-2010,JINDALPHOT,Jindal Photo Limited,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,51764,211.12,-
17-FEB-2010,JINDALPHOT,Jindal Photo Limited,JMP SECURITIES PVT LTD,SELL,142899,214.89,-
17-FEB-2010,KOTAKNIFTY,Kotak Nifty ETF,KOTAK SECURITIES LTD.,SELL,18,491.39,-
17-FEB-2010,KOTAKNIFTY,Kotak Nifty ETF,PIONEER INVESTCORP LTD.,SELL,19794,490.00,-
17-FEB-2010,OISL,OCL Iron and Steel Limite,SONATA INVESTMENTS LIMITED,SELL,1162755,24.80,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,AVR OVERSEAS PVT LTD,SELL,944760,17.30,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,SELL,976966,17.34,-
17-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANS FINANCIAL RESOURCES LTD,SELL,938995,17.40,-
17-FEB-2010,SYNCOM,Syncom Healthcare Ltd,ALFA FISCAL SERVICES PVT LTD,SELL,104937,83.16,-
17-FEB-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,113992,83.79,-
17-FEB-2010,VIPIND,VIP Industries Ltd.,INVENTURE FINANCE PRIVATE LIMITED,SELL,327757,281.76,-
Nifty February 2010 futures at discount
Turnover jumps
Nifty February 2010 futures were at 4902.10, at a discount of 11.90 points over spot closing of 4914. On Tuesday, 16 February 2010, Nifty February 2010 futures had ended at premium over the spot price.
The near-month February 2010 derivatives contracts expire on Thursday, 25 February 2010, a day before the presentation of the Union Budget 2010-11 on Friday, 26 February 2010. Nifty March 2010 futures were at 4897.60, at a discount of 16.40 points over the spot closing of 4914.
Turnover on NSE's futures & options (F&O) segment surged to Rs 85124.49 crore from Rs 64999.10 crore on Tuesday.
In the spot market, the Nifty jumped 58.25 points or 1.2% to 4,914.
Asian markets extend gains
Nikkei, Sydney led regional rally while Hang Seng, Sensex, Seoul follows them
Stock markets in Asian region extended their gain for sixth session on Wednesday, 17 February 2010, on speculation the global economy is recovering as commodity prices gained, US manufacturing expanded faster than estimated and Barclays more than doubled profit. The key benchmark indices in Hong Kong, Indonesia, Japan, South Korea and Singapore rose by 0.59% - 1.65%. Stock markets in China and Taiwan were closed for the Lunar New Year holidays.
On Wall Street, the Dow rallied to a triple-digit gain Tuesday as strong earnings and economic data, coupled with the Euro’s gains against the dollar, helped an array of equities and commodity prices. The Dow Jones Industrial Average finished higher by 170 points, or 1.7%, to 10,269. The S&P 500 gained 19 points, or 1.8%, to 1095, and the Nasdaq advanced by 31 points, or 1.4%, to 2214.
In the commodity market, crude oil was little changed above $77 a barrel in New York after rising as the dollar fell against the euro on speculation Greece won’t need a European Union bailout to meet deficit-reduction targets.
There was no floor trading in New York on 15 February 2010 because of the Presidents Day holiday. Electronic trades that day and yesterday’s session counted toward the settlement.
Prices also gained after manufacturing in the New York region grew at the fastest pace in four months. The Federal Reserve Bank of New York’s general economic index rose to 24.9 this month, higher than anticipated, from 15.9 in January
Crude oil for March delivery traded at $77.07 a barrel, up 6 cents, in electronic trading on the New York Mercantile Exchange at 3:13 p.m. Singapore time. Yesterday, the contract rose $2.88, or 3.9%, to $77.01, the biggest percentage gain since 30 September 2009.
Brent crude for April delivery traded at $75.70 a barrel, up 2 cents, on the London-based ICE Futures Europe exchange at 3:14 p.m. in Singapore. Yesterday, the contract increased $3.17, or 4.4%, to $75.68.
Gold, little changed, may extend its gain to the highest almost a month as the dollar weakens, boosting demand for the precious metal. Gold for immediate delivery was at $1,118.43 an ounce at 2:50 p.m. in Singapore after trading between $1,115.95 and $1,120.90. Bullion yesterday rose 1.7% to $1,119.45 an ounce, the highest closing price since 19 January 2010.
In the currency market, the Japanese yen was softened against major currencies on Wednesday. Japanese yen softened against euro as concerns over Greece's deficit problem recede after EU finance minister meeting overnight, easing demand for downside hedges. The Japan’s currency yen was quoted at 90.35 against the greenback.
The Hong Kong dollar was trading at HK$ 7.7688 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 trades, the Australian dollar held fort at three-week highs above $US0.9000 on Wednesday, aided by a perkier mood in markets, expectations of more rate rises at home and a pause in the Euro’s recent slide. At the local close, the dollar was trading at $US0.9012, up from $US0.8934 on Tuesday. Most of the gains were made offshore when a weaker US dollar, higher US stocks and commodity prices helped at the margins.
In Wellington trades, the New Zealand dollar drifted lower during its domestic session after gaining nearly a cent overnight as investors regained their risk appetite amid an apparently stabilising situation in Greece and general market optimism. The NZ dollar drifted to US70.45c at 5pm after reaching US70.80c in early trading from US69.90c at 5pm yesterday.
The South Korean won ended at 1442.20 won to the U.S. dollar, up 9.3 won from Tuesday’s close of 1,151.5.
In equities, Asian markets rallied with resource shares rising sharply on higher commodity prices, while a weaker yen boosted Japanese exporters.
In Japan, the key stock average registered gains as positive cues from global shores installed confidence in the economic outlook. Strong domestic and overseas earnings and economic data, coupled with the softer yen versus euro and US dollar and stronger commodities, helped an array of equities and commodity shares. Gains were also fueled by fresh round of buying activities in stock index futures during afternoon session.
At the settlement, the Nikkei 225 Stock Average index was at 10,306.83, spurted 272.58 points, or 2.72%. The broader Topix of all First Section issues on the Tokyo Stock Exchange surged 19.46 points, or 2.2%, to 904.63.
In economic section, the Ministry of Economy, Trade and Industry said an index measuring the activity of tertiary industries in Japan declined by a seasonally adjusted 0.9% in December to standing at 95.8 following the revised 0.1% contraction in November.
In Hong Kong, the shares spurted on the first trading day of the year of the Tiger, as the market played catch-up following the Lunar New Year holiday for two days. The gains was bolstered by strong cues from international market and surging metal prices in London which offset Beijing’s decision to increase bank reserve requirements ratio by 50 basis points for the second time this year.
At the close, the Hang Seng Index surged 265.32 points, or 1.31%, to 20,534.01, meanwhile the Hang Seng China Enterprise, which tracks the overall performance of 43 Mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, spurted 171.98 points, or 1.49%, to 11,708.34.
In Australia, the shares extended gains throughout the session, with key All Ordinaries index registered rise at settlement, thanks to positive European market and Wall Street overnight, stronger commodities prices, and generally upbeat earning updates. Investors confidence over the economy was strengthen by strong earning reports, with around 75% of Australian company’s ahead estimates.
At the settlement, the benchmark S&P/ASX200 index climbed up 100.10 points, or 2.19%, to 4,667.90, meanwhile the broader All Ordinaries has gained 96.0 points, or 2.09%, to 4,686.80.
In economic section, the Department of Employment and Workforce Relations said Wednesday an index measuring skilled job vacancies in Australia added 1.6% to standing at 44.4 in February compared to the previous month. The latest Westpac-Melbourne Institute Leading Index rose by 1.3 points, or 0.5%, in December to 245.8.
In New Zealand, stock market continued to move forward with the benchmark index rising in the positive terrain for the second day in a row. The NZX 50 advanced by 0.75% or 23.45 points to 3111.06. Meanwhile, the NZX 15 increased 0.92% or 51.48 points to close at 5599.90.
In South Korea, stocks finished up as eased fears over Greek sovereign debt sparked appetite for risky asset. Extending two straight days of gains, the benchmark Korea Composite Stock Price Index (KOSPI) advanced 26.38 points or 1.65% to end at 1,627.43.
In Singapore, the share market bolstered by positive Wall Street overnight and stronger Asian cues, strength in commodity prices, and generally upbeat earnings results. Gains were also supported by firmer European bourses Wednesday and US index future Indicating Dow might open higher. At the settlement, the blue chip Straits Times Index was at 2,794.06, gained 35.16 points or 1.27%, from Fridays closes at 2,758.90.
On economic section, statistic department of Singapore said month on month non-oil domestic exports declined seasonally adjusted 8.9% in January, compared to the previous month’s 4.2% increase. On annual basis, NODX grew by 21% in January 2010, following the 26% rise in previous month, due to higher electronic and non-electronic NODX.
In Philippines, momentum remained very strong in Philippines equities as the markets hit nearly one month high above 3000 mark, as bullish sentiment took off on the back of strong gains on Wall Street overnight. The benchmark index PSEi escalated 1.71% or 50.96 points to 3,018.67, while the All Shares index went up 1.23% or 23.32 points to 1,908.14.
In India, the key benchmark indices rose for the second straight day tracking firm global stocks. Metal, banking, consumer durables and auto stocks rose. The market breadth was strong. The BSE 30-share Sensex was up 202.23 points or 1.25% to 16,428.91. The S&P CNX Nifty was up 58.25 points or 1.20% to 4,914.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly higher at 1259.07 while stock markets in Indonesia’s Jakarta Composite index gained by 22.84 points ending the day higher at 2581.34.
In other regional market, European shares rose for the third straight session on Wednesday, as earnings out from the banking sector again helped to offset worries about Greece's fiscal position. On a regional level, the U.K. FTSE 100 index rose 0.73% or 38.44 points to 5,283, the German DAX index advanced 0.97% or 54.26 points to 5,646 and the French CAC-40 index was up by 55.93 points or 1.52%, trading at 3,725.
Metal, banking stocks lead rally
The key benchmark indices rose for the second straight day tracking firm global stocks. The BSE 30-share Sensex jumped 202.23 points or 1.25%. Metal, banking, consumer durables and auto stocks rose. The market breadth was strong.
India VIX, a volatility index based on the S&P CNX Nifty index option prices, rose 1.08% to 29.04. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.
The market opened on a firm note tracking gains in Asian stocks. The market extended gains in mid-morning trade. After a small correction, the market regained strength in early afternoon trade. The market came off the higher level in afternoon trade. Volatility ruled the roost as the market further pared gains in mid-afternoon trade. The market regained strength later
European equities advanced for a third straight session on Wednesday as forecast-beating results from BNP Paribas helped banking stocks and stronger commodity prices supported mining and energy shares. The key benchmark indices in France, Germany and UK rose by between 0.55% to 1.31%.
A pledge made overnight by Euro-zone countries to back Greece through its debt turmoil continued to ally concern over the region's fiscal problems.
Asian stocks rose on Wednesday, 17 February 2010, for the sixth time in seven days on speculation the global economy is recovering as commodity prices gained. US manufacturing expanded faster than estimated and Barclays Plc more than doubled profit. The key benchmark indices in Hong Kong, Indonesia, Japan, South Korea and Singapore rose by between 0.89% to 2.72%. Stock markets in China and Taiwan were closed for the Lunar New Year holidays
Trading in US index futures indicated Dow could gain 20 points at the opening bell on Wednesday, 17 February 2010.
US stocks logged their best single-session percentage advance in three months on Tuesday, 16 February 2010, as buyers returned from an extended weekend. A sharp drop in the dollar, better than expected earnings, positive data and M&A activity boosted the market. The Dow gained nearly 170 points, or 1.7%, to close at 10,268.81. It was the best point and percentage gain since 9 November, last year. The S&P 500 advanced 1.8% and the Nasdaq rose 1.4%.
Minutes from the Federal Open Market Committee's 26 and 27 January 2010 meeting are slated for release today. Policymakers had maintained their pledge to hold interest rates near zero at the time.
Closer home, Farm Minister Sharad Pawar said on Wednesday that food prices have started falling and will dip further next month. But the government will not restrain large sugar firms from buying sugar from the domestic market, Pawar said. Pawar said the wheat harvest would exceed last year's record 80.6 million tonnes, giving a slightly higher forecast than last week's formal government estimate of 80.28 million tonnes.
Finance Minister Pranab Mukherjee said on Wednesday the economy may grow at more than 8% in the fiscal year 2010/11, after growing at around 7.5% in the current fiscal year ending March 2010. He further said that the government's measures to tame rising inflation would take some time to make an impact.
The government's chief statistician Pronab Sen said on Tuesday the wholesale price inflation could cross 10% by end-March, depending how food prices behave in the next two weeks. He said the Reserve Bank of India (RBI) could tighten monetary policy even earlier than an April policy review. The monthly index touched a 14-month high of 8.56% in January 2010, leaping over the central bank's end-March target of 8.5%. The food articles index rose an annual 17.43% in January, near an 11-year high. The manufacturing inflation was up at 6.55% in January, in a sign that food inflation was impacting other sectors.
There are expectations that the central bank may take some monetary action at its next policy review in April 2010 as industrial output growth also picked up pace, growing 16.8% in December from a year earlier. RBI Deputy Governor Subir Gokarn said last week that no monetary action was expected before April unless there was a completely unanticipated or unwarranted event.
Sen said any hike in petrol and diesel prices, as recommended by a government panel on fuel pricing, would have more impact on the consumer price index than on wholesale price inflation. Sen said that although industrial production grew at a higher-than-expected 16.8% in December from a year ago, the government should wait for further consolidation of economic recovery before withdrawing fiscal stimulus measures. India has provided fiscal stimulus measures worth around Rs 1,86,000 crore ($40 billion) and further additional spending of about $4 billion since December 2008.
The Reserve Bank of India cannot target inflation as transmission of monetary policy is muted in the country, its governor D Subbarao said on Tuesday. He added it was difficult for monetary policy to attack supply-side driven inflation.
The high fiscal deficit is not sustainable over a long period and consolidation of public finances was needed as growth picks up, C. Rangarajan, the prime minister's economic advisory panel chairman said on Tuesday.
The next major trigger for the stock market is the Union Budget 2010-2011 on 26 February 2010. Among the key issues, analysts and economists expect the Finance Minister to provide a road map for the introduction of the key direct and indirect tax reforms viz. the direct tax code (DTC) and the Goods & Services Tax (GST) in the Budget. The GST will enable the Indian corporate sector to get much-needed relief from a multiplicity of state and Central taxes. However, several critical issues need to be resolved before it can be put in place. The Finance Minister must utilize this opportunity to effect a smooth transition to this new system.
The hope of direct tax reform has risen with the release of the draft Direct Tax Code by the government in calendar 2009. The Direct Taxes Code is supposed to replace the Income Tax Act by consolidating and amending income tax provisions for all categories of people and institutions. The DTC proposes doing away with tax exemptions and bringing under the tax purview a number of entities including trusts that pay no tax at the moment. The thrust of the new code is to promote efficiency and equity by eliminating distortions in the tax structure, introducing moderate levels of taxation and expanding the tax base.
Meanwhile, the government may increase excise duties as a first step towards a gradual winding down of fiscal stimulus measures. It may also raise the service tax rate to 12% from 10%. It may be recalled that the government had slashed the Central Value Added Tax (Cenvat) rate for excise duty from 14% to 8% in two rounds starting in December 2008. It had also cut service tax by 2 percentage points. These reductions were effected in order to provide a stimulus to domestic industry. Since the overall prospects for growth are much brighter today, the finance minister may withdraw a part of the stimulus in order to boost tax revenue.
The Finance Minster may project a lower fiscal deficit for 2010-11 based on higher revenue projections due to economic rebound. It remains to be seen if there are structural reforms to reduce the subsidy burden such as decontrol of petrol and diesel prices as recommended by the Kirit Parikh committee recently.
It also remains to be seen if there is any progress on financial sector reforms. The pending financial sector reforms include raising the foreign direct investment (FDI) cap in private sector insurance companies from 26% to 49% - a Bill for which is pending in Parliament.
As far as government expenditure is concerned, the thrust areas could be agriculture, water resources, power, roads & other infrastructure projects and social sector schemes.
The BSE 30-share Sensex rose 202.23 points or 1.25% to 16,428.91. The Sensex rose 2.23 points at the day's low of 16,228.91 in early trade. The barometer index jumped 254.21 points at the day's high of 16,480.89 in early afternoon trade.
The S&P CNX Nifty rose 58.25 points or 1.2% to 4,914. Nifty February 2010 futures were at 4902.10, at a discount of 11.90 points over spot closing of 4914. On Tuesday, 16 February 2010, Nifty February 2010 futures had ended at premium over the spot price.
The BSE Mid-Cap index rose 0.79% and the BSE Small-Cap index rose 0.61%. Both the indices underperformed the Sensex.
The BSE Consumer Durables index (up 3.34%), BSE Metal index (up 3.24%), BSE Bankex (up 1.75%) outperformed the Sensex.
The BSE Realty index (down 1%), BSE IT index (down 0.22%), BSE Healthcare index (up 0.15%), BSE PSU index (up 0.44%), BSE Power index (up 0.57%), BSE FMCG index (up 0.61%), BSE Oil & Gas index (up 0.97%), BSE Auto index (up 1.2%), BSE Capital Goods index (up 1.24%), and underperformed the Sensex.
The market breadth, indicating the overall health of the market was strong. On BSE, 1678 shares advanced as compared with 1118 that declined. A total of 93 shares remained unchanged.
From the 30 share Sensex pack, 22 shares rose while the rest fell.
BSE clocked a turnover of Rs 4496 crore, higher than Rs 3743.57 crore on Tuesday, 16 February 2010.
Index heavyweight Reliance Industries (RIL) rose 1.44% extending Tuesday's near 1% rise. RIL recently submitted a $2 billion expression of interest for Value Creation Inc, a Canada-based private firm which holds oil sands assets.
The government has reportedly demanded another $2.7 million from Reliance Industries towards royalty and profit petroleum payments on gas produced from the Krishna-Godavari (KG) D6 for the six-month period from April-September 2009, arguing that the company did not take into account the marketing margin it levies while calculating the dues.
Meanwhile, Reliance Industries may reportedly be forced to raise its offer for LyondellBasell or abandon its bid all together after the target settled a dispute with creditors that paved the way for an exit from bankruptcy. Lyondell said on Tuesday it would continue with its reorganisation plan aimed at exiting bankruptcy.
Rate sensitive banking shares rose after the central bank said last week it will introduce from 1 April 2010 a new base rate to price credit more transparently, replacing the existing benchmark prime lending rate (BPLR). India's largest private sector bank by net profit ICICI Bank rose 0.98% extending Tuesday's 1.97% gains. Its ADR rose 1.95% on Tuesday. India's largest bank by net profit and branch network State Bank of India rose 1.69% extending Tuesday's 1.41% gains. India's second largest private sector bank by net profit HDFC Bank rose 2.95%. Its ADR rose 1.81% on Tuesday.
The Reserve Bank of India said the base rate will be the new reference rate for determining lending rates. According to draft guidelines, the RBI has proposed that the actual lending rate charged to borrowers would be the base rate plus borrower-specific charges including product-specific operating cost, credit-risk premium and tenure premium said.
Metal stocks rose after LMEX, a gauge of six metals traded on the London Metal Exchange, jumped 4.18% on Tuesday, 16 February 2010. Steel Authority of India, Sterlite Industries, Hindustan Zinc, JSW Steel rose by between 0.28% to 3.7%.
Tata Steel, the world's No. 8 steelmaker, rose 6.37% as the firm posted its first consolidated quarterly profit in four quarters and said reviving global demand would further boost earnings in the three months to March 2010. After trading hours on Tuesday, Tata Steel said its consolidated net profit for the December 2009 quarter, which includes its UK unit Corus, fell 42%, although higher prices and increased volumes led to a rise in its operating profit margins.
Tata Steel said its consolidated net profit in the October-December period fell to Rs 473 crore from Rs 814 crore last year. Revenue fell 20% to Rs 26,069 crore. The stock rose 2.23% on Tuesday ahead of the result.
Hindalco Industries rose 5.2% gaining for the fourth straight day on reports the company hopes to complete raising Rs 4900 crore of debt in the next two weeks to achieve financial closure for Utkal Alumina Refinery, a 15 lakh tonne per annum project in Orissa.
Consumer durables stocks rose on strong consumption demand as the economy picks up. Titan Industries, Lloyd Electric, Asian Star Company, Videocon Industries, Gitanjali Gems rose by between 0.84% to 8.67%.
Rate sensitive auto stocks rose on strong sales in the month of January 2010. India's top small car manufacturer by sales Maruti Suzuki India rose 1.8% extending Tuesday's 1.6% gains. 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) rose 1.4% gaining for the straight fourth day.
India's largest commercial vehicle maker by sales Tata Motors rose 1.19% extending Tuesday's 3.02% gains. Tata Motors on Tuesday said it will hike commercial vehicle prices by up to 2% on account of new emission norms. The company also announced plans of bidding for a Rs 350 crore defence contract to supply light bullet-proof vehicles.
The company said on Monday its global vehicle sales for January nearly doubled to 85,714 units from a year earlier. The sales include UK-based luxury brands Jaguar and Land Rover, whose sales nearly trebled in the month to 16,269 units from a year ago, the company said in a statement. It had earlier said domestic sales, including trucks, buses and cars, jumped an annual 77 % in January.
Shares of bus makers Ashok Leyland and Tata Motors may benefit in case of further allocation of government expenditure towards the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) in the Union Budget 2010-11.
Rate sensitive realty shares fell on profit taking. Housing Development & Infrastructure, Akruti City, DLF, Indiabulls Real Estate rose by between 0.2% to 3.29%.
Unitech fell 0.73%. Recently Telenor bought a further 7.15% stake in its telecom joint venture Unitech Wireless by pumping in additional Rs 2022 crore of fresh equity.
Unitech and DLF would be the chief beneficiaries if the government providers thrust to afforable housing projects in the forthcoming budget
Software majors rose on strong economic data in US. US is the biggest export market for Indian IT firms. Wipro and TCS rose 0.04% and 0.44% respectively. But India's largest IT exporter by sales Infosys Technologies fell 0.62%.
The rupee strengthened to a two-week high today, as a broad fall in the dollar versus major units and a firm domestic stock market boosted sentiment. The partially convertible rupee was at 46.10/11 per dollar, after rising to 45.95 in early trade, its highest since 3 February 2010 and stronger than its 46.21/22 close on Tuesday, 16 February 2010. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
The IT sector is looking for an extension of the tax holiday for the Software Technology Park of India (STPI) scheme. The government provides tax benefits under Section 10 (A) of Income Tax Act for units set up in the Software Technology Parks of India (STPIs), which is due to expire on 31 March 2011 (FY 2011). If the scheme is extended by one more year till 31 March 2012 (FY 2012), it will boost FY 2012 earnings of IT firms
India's largest listed telecom service provider by sales Bharti Airtel rose 2.44% on bargain hunting after the stock tumbled 13.6% in the preceding three trading sessions. According to reports, Bharti Airtel hopes to conclude the deal to buy Zain's African assets by 25 March 2010 and does not see funding as an issue. A series of announcements on the deal would also be made over the next couple of days, reports added.
India's second largest listed telecom service provider by sales Reliance Communications rose 1.97%.
Infrastructure stocks moved up on hopes the government may accelerate spending on the infrastructure sector in the Union Budget 2010-11. Gayatri Projects, Punj Lloyd, Hindustan Construction Company, IVRCL Infrastructure rose by between 0.49% to 5.69%.
India's largest drug maker by sales Ranbaxy Laboratories rose 0.25% extending Tuesday's 7.23% jump. Daiichi Sankyo recently said it will launch new innovative products in Mexico through the marketing division of Ranbaxy's Mexican subsidiary Ranbaxy Mexico.
Among other healthcare stocks. Lupin, Divi's Laboratories, Biocon, Pfizer rose by between 0.71% to 4.16%.
FMCG stocks rose on buoyant consumption demand. Britannia Industries, ITC, United Spirits, Hindustan Unilever rose by between 0.05% to 2.8%.
Excise duty on fast moving consumer goods (FMCG) is expected to go up by 200-300 basis points in the 2010-11 Budget. Higher excise duty may result in margin pressure on some companies. Companies may resort to price hikes with a lag of one or two quarters. Firms such as Dabur India, Godrej Consumer Products and Marico will be relatively less impacted as they do have production units in excise-exempt locations.
India's largest power utility firm by sales NTPC fell 0.39%. The company's follow on public offer managed to scrape through early this month 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, CESC, Reliance Infrastructure, Reliance Power rose by between 0.02% to 1.93%.
India's largest engineering and construction firm by sales Larsen & Toubro rose 1.93% extending Tuesday's 0.99% gains. The company said last week it won orders worth Rs 582 crore.
India's largest power equipment maker by sales Bharat Heavy Electricals rose 0.65% extending gains for the fourth day. Bharat Heavy Electricals (Bhel), will reportedly form a joint venture company with Japan's Toshiba Corp. that will build power transmission links across India and will also cater to the distribution business. The company last week secured a contract for the electro-mechanical equipment package for a 1,200 megawatt hydroelectric project in Bhutan valued at Rs 1,016 crore.
Among other capital goods stocks, BEML, ABB, Siemens and Punj Lloyd rose by between 0.33% to 3.92%.
Castrol India rose 1.22%, extending recent gains ahead of the company's board meeting on Thursday, 18 February 2010 to consider bonus issue.
Cals refineries clocked the highest volume of 2.52 crore shares on BSE. Ruchi Soya Industries (1.34 crore shares), Mahindra Satyam (0.78 crore shares), Hindustan Fertilisers & Chemicals (0.66 crore shares) and K Sera Sera (0.54 crore shares) were the other volume toppers in that order.
Tata Steel clocked the highest turnover of Rs 197.22 crore on BSE. Ruchi Soya Industries (Rs 121.02 crore), VIP Industries (Rs 95.33 crore), Reliance Industries (Rs 92.59 crore) and Aban Offshre (Rs 87.88 crore) were the other turnover toppers in that order.
Daily News Roundup - Feb 17 2010
Dutch firm Lyondell Basell Industries’ agreement with its creditors, that will help its emergence from Chapter11, could hit Reliance Industries plans. (FE)
Government has demanded another US$2.7mn from Reliance Industries towards royalty and profit petroleum payments on gas produced from the Krishna-Godavari (KG) D6 for the six-month period from April-September 2009, arguing that the company did not take into account the marketing margin it levies while calculating the dues. (ET)
Bharti Airtel said the acquisition of Zain Group's African assets would result in a total payout of US$9bn, which includes any loans payable by the operating companies to Zain Group. (BL)
TCS said it will review salary increment plans by this month-end, as signs of revival of demand in the sector get stronger by the day. (ET)
Entering the business of combat vehicles manufacturing for the defence sector, Tata Motors plans to bid to supply light bullet-proof vehicles to the Indian Army, with a possible order size of Rs3.5bn. (BS)
Tata Motors said it has cut production by about 5-10% in its commercial vehicle business since January due to shortage of key components like trucks/bus radial tyres. (BL)
Tata Motors plans to increase prices of its commercial vehicles by 1-2% from April when the new emission norms become effective. (ET)
Tata Motors is looking to offload stake in its finance arm, Tata Motors Finance. (ET)
Italian defence and aerospace manufacturer Finmeccanica unit AgustaWestland and Tata Sons signed a JV to assemble AW119 helicopters in Hyderabad. (BS)
BHEL will sign a MoU with Japan's Toshiba Corp for a transmission and distribution joint venture to offer turnkey services in the country’s power transmission sector and set up focus on the distribution segment as well. (BL)
The ground-breaking ceremony for the 4,000MW greenfield thermal power project being taken up by NTPC in Bijapur would be held in March, with the first phase comprising of three units expected to commission by 2013-14. (BL)
Tata Steel could face industrial action in the latest tragic twist to the ongoing saga at its British division, Corus. (BL)
Wipro announced its tie up with Texas Instruments to offer services on Texas Instruments' OMAP processors. (FE)
The ongoing strike by contract workers at the Durgapur Steel Plant of SAIL, if continues for a few more days, could affect the plant's normal production of 6,700 tons of hot metal/day. (BL)
SAIL targets to commission its Rs150bn expanded production line at its Bhilai unit by the end of FY13. (ET)
The Aditya Birla Group plans to set up Rs10bn aluminium downstream project near its existing smelter at Hirakud where it envisages setting up a rolling mill to manufacture high quality aluminium flat rolled products and cans. (BS)
L&T announced that it has submitted a joint proposal with US defence technology firm Raytheon to upgrade India’s T-72 tanks. (BS)
L&T has lined up an investment of more than US$400mn to expand its ship building capacity, especially for defence, by mid-2011. (BS)
Tata Power and Korea East-West Power have entered into a pact to identify and execute operation and maintenance opportunities in power generation assets in Asia, the Gulf region and Africa. (BL)
Reliance Communications has placed an order to buy close to 2mn CDMA handsets from Huawei Technologies of China for about Rs3.4bn. (BL)
Jaiprakash Associates plans to invest Rs12.5bn in raising its clinker and cement manufacturing capacity at its existing facility in Himachal Pradesh. (BS)
The Rajiv Gandhi International Airport at Shamshabad here, developed and operated by GMR Hyderabad International Airport Ltd, is expecting to post operating profits in a span of two years. (BS)
REpower, in which Suzlon Energy holds a majority stake, bagged an order from Eole-Res SA of France to supply 26 wind turbines of 2MW each, generating a total capacity of 52MW. (FE)
Essar Steel said it is looking at increasing prices of its products amid higher input costs and improved demand by April-May this year. (FE)
Bharat Electronics Ltd has signed a follow-on contract with the Suriname Armed Forces for the delivery of Coastal Communication System Network server. (BL)
United Breweries is eyeing a 20% growth in its beer sales in the current fiscal, to touch 100mn cases by March 2010. (BS)
Jet Airways announced the commencement of its daily non-stop flights from Mumbai to Johannesburg from April 14. (BL)
Chennai Petroleum hopes the government will hike prices of petrol and diesel sufficiently to pay back refiners' investments in auto fuel upgradation. (BL)
JK Lakshmi Cement plans to set up a new plant in Gujarat with an investment of Rs10bn over the next 3-4 years to meet rising cement demand from the infrastructure sector. (ET)
TVS Motor launched its 110cc clutch-less TVS Jive in Andhra Pradesh. (BL)
Honda Motorcycle & Scooter India launched its first mass segment bike, CB Twister, in Hyderabad. (BL)
Two major IT investors - MindTree Consulting and ICICI Bank, whose proposed projects in the city were put on the back burner for couple of years, seem to be gearing up to translate their plans into reality. (BS)
Spice Jet plans to expand its capacity in the domestic market as it gets delivery of four new aircrafts by end of this year and three next year. (FE)
MTNL plans to set aside 30% more capital expenditure for FY11, at Rs13bn. (FE)
Balaji Telefilms has gone for a corporate image makeover, unveiling a brand new visual identity (Alt Entertainment), with plans to diversify into movie and new media production. (ET)
Golden Tobacco said the board has approved an agreement with a builder to jointly develop its Vile Parle property in Mumbai. (ET)
United Bank of India has received the final clearance from SEBI for its IPO which is expected to hit the market in the last week of February. (ET)
Atlas Copco (India) Ltd, a subsidiary of Atlas Copco AB, plans to expand its product range in Construction & Mining segment. (BS)
The country’s largest insurer LIC said it would pump in about Rs100bn in the stock markets by March, taking its annual equity investment to Rs600bn this financial year. (BS)
The Union petroleum ministry plans to take up the issue of revising the price of APM gas with the Union Cabinet, with a recommendation for 44% increase in price retrospectively from April 1, 2009. (BS)
The Department of Telecommunications says it requires some time to decide on the 3G auction, while the Union law and finance ministries have cleared the way. (BS)
The Indian Sugar Mills Association has urged the government to withdraw the 20% levy in the new season starting October 1 and also discontinue with its policy of exempting imported sugar from stock holding limits. (BS)
The National Fibre Policy, aimed at restoring competitiveness of the domestic textile industry, is set to come into being early in the next financial year, 2010-11. (BS)
The steel industry expects the Centre to increase import duty on cold rolled and galvanised steel to 7.5% from 5% and withdraw the 5% duty on ferro alloys as most of these are not produced in India. (BL)
The Textile Ministry has sought Rs10.5bn additional allocation under the Technology Upgradation Fund in the Budget. (BL)
India and the 10-nation South East Asian trading bloc ASEAN are expected to widen their trade engagement by signing in October, a free trade agreement (FTA) that will cover services and investment. (ET)
SEBI has agreed to change the auction norms for follow on public offers to allow institutional bidders lower their bids in response to a request from the department of disinvestment. (ET)
Daily Grey Market Premiums - Feb 17 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) |
| Aqua Logistics | 220 | 3.50 to 4 | -- |
| Thangamayil Jewellery | 75 | 2 to 3 | -- |
| D. B. Realty | 468 | 7 to 8 | -- |
| Emmbi Polyarns | 45 | 1.50 to 2 | -- |
| NTPC (FPO) | 201 | 2 to 2.50 | -- |
| ARSS Infrastructure Projects | 450 | 140 to 145 | -- |
| Hathway Cable & Data Comm. | 240 to 265 | 3 to 5 | -- |
| Texmo Pipes | 85 to 90 | 8.50 to 9 | 1950 to 2000 |
| Man Infraconst. | 243 to 252 | 65 to 67 | 1800 to 1950 |
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