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Friday, March 05, 2010
Tata Motors Feb sales surge by 58% YoY
Tata Motors said that the total sales (including exports) of Tata commercial and passenger vehicles in February 2010 were 69,427 vehicles, a growth of 58% over 43,811 vehicles sold in February 2009. The company’s domestic sales of Tata commercial and passenger vehicles for February 2010 were 66,190 nos., a 56 % growth over 42,493 nos. sold in February last year. Cumulative sales for the April-February 2009-10 period stood at 567,535 nos., recording a growth of 28 % over 444,095 nos. sold last year.
Private banks hike rates on auto, home loans
ICICI Bank raised auto loan rates by 25-50 basis points (bps) for different tenors and segments, effective from March 5. ICICI Bank also discontinued its special home loan rate of 8.25% for two years. The bank will now charge 8.75% for loans up to Rs3mn, 9% for loans of Rs3mn to Rs5mn and 9.5% for loans over Rs5mn. HDFC Bank and Kotak Mahindra also raised rates on home and auto loans.
HDFC's home loan rates have reverted to 8.75% for loans up to Rs3mn, 9% for loans between Rs3mn and Rs5mn and 9.25% for loans over Rs5mn. Till last month, it was offering loans at a fixed rate of 8.25% up to March 31, 2012, after which the loan would revert to the prevailing floating rate.
Last month, Kotak Mahindra discontinued the fixed rate home loan scheme which was introduced in December. The bank last month also increased rates on its floating rate home loans by 50 bps. It is now in the range of 8.50-9%. The rates on personal loans also went up by 50 bps to around 18.5%.
These private banks raised lending rates by as much as 100 basis points, following the hardening of market rates even as the RBI has refrained from tinkering with the policy rates till now. In its last policy meeting in January, the central bank raised the cash reserve ratio (CRR) by 75 basis points. Banks are raising lending rates to maintain their profitability after they increased deposit rates in the last few months to attract funds.
Food inflation hovers around 18%
India’s Food Inflation rose to 17.87% in the week ended February 20, as compared to 17.58% in the previous week, data released by the Government showed. The WPI index for the Food Articles group declined by 0.4% to 285 points, as nearly all key items including cereals, vegetables and fruit became cheaper. Inflation for the Primary Articles group declined marginally to 15% in the week under review against 15.84% in the previous week. Inflation for the Non-Food Articles group rose to 13.77% from 12.78% in the previous week.
Finance Minister's decision to hike duties on petroleum products prompted India Inc. to raise prices. Truck operators increased freight rates while companies belonging to the Steel, Airlines and Cement sectors too followed suit. Analysts expect the fuel price hike to raise food prices further in the near future, especially those of the perishable items.
For the week ended February 20, inflation for the Fuel & Power group was partially lower at 9.59%, compared to 9.89% a week ago. The effect of the hike in fuel prices will be visible in a fortnight's time. The WPI-based monthly inflation is expected to touch double-digits by March-end. It has already overshot the RBI's FY10-end forecast of 8.5%.
Meanwhile, yields on the benchmark 10-year government bond spurted to inch closer to the 8% mark. Traders expect the Government borrowing schedule for the fiscal year 2010-11 to provide direction for the bond market in the near term. It may be recalled that the Finance Minister announced record borrowing of Rs4.57 trillion while unveiling the Union Budget, on Feb. 26. Traders also expected cash outflows towards advance tax payments in mid March to squeeze liquidity. About Rs400-500bn are expected to flow out from the banking system when companies make the tax payments.
Weekly Newsletter - March 5 2010
The Budget-day rally managed to extend for a couple of more sessions before the bulls ran out of steam. This was mainly to profit taking and partly due to lingering global concerns. What also weighed on the sentiment was an imminent spike expected in inflation on the back of a hike in petrol and diesel prices. However, the Government seemed to be convinced that higher fuel prices won't have that much of an impact on headline inflation. But, even without the fuel price hike, monthly inflation could touch the double digit mark in a few weeks. The latest monthly inflation numbers will be released in the middle of this month.
Meanwhile, the economic data to watch out for next week will be the IIP report. We expect robust growth in industrial production. Growth in services sector too appears to be on a firm wicket. The only missing piece from the jigsaw puzzle is agriculture, which is suffering due to a poor monsoon. In this context, southwest monsoon will assume significance. Another bad monsoon could put paid to any hopes of returning to the high growth path and might disrupt the Government's finances too. In the near-term though, the market might advance if the momentum in FII inflows persists. Valuations are not cheap and external headwinds still threaten to derail the fragile global recovery. Look for opportunities at a more opportune time.
Hike in fuel duties...Govt backs FM to the hilt
The Government continued to bear the brunt of the opposition ire as fuel prices increased in the wake of the Finance Minister's proposal to hike duties on petroleum products in the Union Budget. However, despite stiff resistance from both, opposition and UPA allies, Pranab Mukherjee stuck to his stand and refused to rollback the increase in duties on petro products. Mukherjee told his party colleagues and key UPA partners that the step (hike in duties on fuels) would have negligible inflationary impact. The congress leadership closed ranks on the issue and accused the opposition of resorting to "political opportunism". Justifying the fuel price hike, party spokesman Manish Tewari said that concessions in excise duty were given in June 2008 when price of crude oil was US$133 per barrel and now with the prices coming down, the Government has partially gone back to the 1998 excise regime.
Tewari said that the impact of the fuel price hike will lead to only 0.4% rise in the wholesale price index (WPI) and claimed that the opposition had attacked the government without even analyzing its implications. The Congress party spokesman asked the opposition to adopt a constructive approach towards such sensitive issues related to the economy. The opposition should introspect before resorting to such political opportunism, he said. "They (NDA) raised prices of petrol 21 times, that of diesel 24 times and that of LPG five times when the NDA was in power," he added. "There is an economic reality articulated clearly by the Finance Minister in the budget and outside in details. That lays the roadmap... I have nothing to add or subtract to that," Tewari said. Backing the Finance Minister's budget proposals, Congress chief Sonia Gandhi stated that fuel price hike was needed to pump money into the social sector.
Indian economy to grow by 8% in FY11: PM
Prime Minister Dr. Manmohan Singh said that the Indian economy would grow by at least 8% in the fiscal year that ends in March 2011. Asia's third largest economy would expand by 7.2-7.5% in 2009-10, he told parliament. The Rabi winter crop prospects are very encouraging, but the country needs to pay farmers a good price for their produce to boost output further, the Prime Minister said. Dr. Singh said that the Government would take all practical measures to bring down food prices.
Rising prices of essential commodities was a byproduct of global inflation and that his government was sensitive towards the issue, the Prime Minister said, speaking on the motion of thanks to President Pratibha Patil for her address to the joint session of parliament. "I will be the last one to deny that the behaviour of food prices in the last one year is something which doesn't worry us. We have been worried. The house has my assurance that if any practical methods can further bring relief to our people our government will always be sensitive to the concerns of the house," Dr. Singh said.
"There is first the effect of international commodities prices which have gone up and India is no longer a closed economy.... In years of shortage we depend on import of sugar, pulses.... And when international prices of these commodities rise, I think there is inevitably an impact on our country," he said. The Prime Minister said that the fundamentals of the Indian economy were sound and there was no barrier that could prevent India from achieving the elusive double-digit growth target.
Meanwhile, the Government sought parliamentary approval to spend an extra Rs317.8bn (US$6.94bn) for the fiscal year ending this month, which it plans to fund through savings. Of the total spending, Rs120bn would be spent on oil subsidy, Rs80bn on fertiliser subsidy and Rs24.59bn on food subsidy, among others. The Centre also sought parliament's nod for Rs13.67 trillion for debt repayment in 2009-10. Separately, the country's Revenue Secretary Sunil Mitra said today that the Government would introduce a bill for the implementation of the proposed Direct Tax Code (DTC) in the monsoon session of parliament
Bulls slow down
Today's major news
Sulzer India hits upper circuit limit for the second straight session; the stock rises 20% for the day
IDBI Bank plans to raise Rs300 crore; the stock is up by 0.12%
Titan plans about Rs100 crore capital expenditure in FY2011; the stock slides 1.80%
Wipro bags seven-year deal from a US-based company; the stock is down by 0.97%
Hero Honda Motors speeds up to a record high; the stock rises by 3.41%
Click here for more stories
Post-market summary
Global signals
European shares were higher in early trade on Friday, ahead of key US employment data, with gains in basic resources and banking sectors lending the support. At the time of writing this report, FTSE 100 was trading 0.41% higher.
All the major Asian indices closed positive for the day. SGX Nifty closed 19 points higher.
In USA, the investors would be eagerly waiting for data related to Unemployment Rate for February and Unemployment Rate for January.
Indian indices
On the back of positive Asian and US cues, the Sensex opened 16 points higher and rose 109 points to hit the day’s high of 17097. As the day progressed, drag set in and the market shed some early gains and hit the day’s low of 16936. Overall the session was volatile and the Sensex and Nifty managed to end the day flat on a positive note. The Sensex ended 22 points up at 16994 whereas Nifty ended the day at 5088, up eight points.
Market sentiment
Despite ending high the advance/decline ratio, the number of advancing shares to declining shares, was positive. Of the 2,942 stocks traded on BSE, where only 1,671 stocks advanced, 1,165 stocks declined. Hundred and six stocks remained unchanged
Sectoral & stock screening
A rather listless session where the market traded within a narrow band, all the sector indices were either marginally up or down. The only exception was realty index that was up by 1.77%. Teck index closed 0.47% up. Selling interest led consumer durables, automobile and public sector units indices that closed lower at 0.54%, 0% and 0.55% respectively.
Of the stocks that were up for the day, Sun TV Network surged the most—by 7.22%—followed by Petronet, which rose 6.46%, and Ackruti City that jumped 5.90%. The stocks that were hit the worst includes, NMDC that slid the most--by 4.75%--followed by REI Agro, which declined 2.49% and Rural Electrification Corporation that declined 2.42%.
Viewing volumes
The stocks that drew investors interest include wind power major Suzlon Energy with over 1.88 crore shares of Suzlon Energy changing hands on BSE followed by India’s second largest realty company Unitech (0.85 crore shares), industrial finance company IFCI (0.65 crore shares), steel maker Ispat Industries (0.52 crore shares) and natural resources major Reliance Natural Resources (0.49 crore shares).
DQ Entertainment (International) IPO Analysis
Riding the animation bandwagon
The company has large customers and good order book but the low stake of main promoter and low market cap of ultimate holding company at AIM is of concern
DQ Entertainment (International), promoted by Tapaas Chakravarti & DQ Entertainment (Mauritius), is one of the leading producers of animation, visual effects, game art and entertainment content for the Indian as well as global media and entertainment industry. The company is a producer of animation videos and creators of game art. It has forayed into production and distribution of live action television and feature films. It has an asset base of over 350 hours of animation content from which it can earn revenue through licensing and distribution activities.
The company was originally incorporated in 1987 as Dataquest Management and Communications Private Limited, which was changed to DQ Entertainment in 1993 to engage in IT training & consultancy. In 2000, it established an in-house training centre to training production staff. In 2002 established a traditional two-dimensional (2D) animation studio. In 2004, it established three-dimensional (3D) animation process. Its first commercial 3D animation project was a French TV series, Les Gnoufs. It started game assets development in 2007. The company has since launched its own IPO in 2009, with the launch of the first homegrown 3D computer generated imagery (3D CGI) television series, The Jungle Book, based on Rudyard's Kipling epic novel as well as three special TV features, Balkand, Omkar and Ravan, based on Indian mythology, for India and the Indian diaspora across the globe.
The company has moved up the animation value chain and entered into co-production. It has at least 14 co-production projects going on. The global budget is about Rs 1104.28 crore of which the company's investment would be Rs 152.55 crore funded through pre-IPO placement, IPO proceeds and debt.
Its production capabilities include 10 production facilities in India (eight in Hyderabad and one each in Mumbai and Kolkata), a pool of over 2,851 employees, and worldwide third-party sales representatives in Paris, Tokyo and Los Angeles.
The DQ School of Visual Arts was set up in FY 2008 to address the demand for high quality animation and gaming professionals. It took over from the in-house training division of the erstwhile DQ Entertainment. The school has centres in Hyderabad, Mumbai and Kolkata. Since its inception in FY 2008, the school has trained 715 people.
Revenues accrue either through outsourced production or co-production arrangements. Under outsourced production, the company is remunerated on a fixed fee basis for content produced. Under co-production, the company is remunerated on a fixed fee basis and it invests a certain percentage of the overall cost of producing the complete series in exchange for grant of distribution rights. In certain arrangements, the company might be able to retain the IP.
The company has a client base of over 90 companies, which include internationally recognized brands such as, inter alia, the Disney Group, Nickelodeon, American Greetings, BBC, Moonscoop Group, ZDF-Germany, Australian Broadcasting Corporation and NBC Universal.
The company has planned investment in co-production agreements, focusing on IP content creation of Rs 104.97 crore. Of this, the IPO and re-IPO proceeds would finance Rs 54.96 crore and the balance would be financed through debt of Rs 45.64 crore and internal accruals Rs 4.37 crore. The company also plans to develop SEZ facility at Kokapet Village at Rs 51.92 crore. Of this, IPO and pre-IPO would be Rs 39.23 crore, debt Rs 11.25 crore and the balance through internal accruals. The company also plans to invest in its subsidiary for own IP creation of Rs 14.59 crore. This will be financed through IPO proceeds.
DQE plc: the ultimate Holding Company
The company's corporate promoter, DQ Entertainment (Mauritius) Limited, is incorporated and registered in Mauritius. It is a wholly owned subsidiary of DQE plc, an Isle of Man incorporated entity. In December 2007, DQE plc listed on Alternative Investment Market, London (AIM) at an issue price of 136 pence and raised funds for investment in strategic alliances, global and local IP development and partnerships, and foraying into live action and expansion of production facilities and workforce. The company had raised GBP 26.8 million through the AIM listing. The main reason was to give an exit to the hedge funds, which have to be liquidated on completion of investment life.
The individual promoter (Mr Tapaas Chakravarti) holds about 12.66% of DQE plc through his company Zenithal Pvt Ltd, thereby holding 11.9% (pre-issue) and 9.5% (post-issue) of DQ Entertainment (International).
Certain existing shareholders of DQE plc have entered into a performance incentive agreement with Zenithal. These specific existing shareholders have agreed to transfer an aggregate of 1690895 shares to Zenithal at par value if either of the following performance criteria are met by DQE plc: the closing market price of DQE plc's shares being at or above a certain percentage of the placing price (136 pence) for a consecutive period of 30 days or a bona fide purchase offer being made for all the ordinary shares held by the vendors at or above the threshold price (136 pence). On expiry of the performance period of 13 months, Zenthil has written to the vendors for further extension of the period by 13 months.
As on March 4, 2010, the closing price of equity shares of DQE plc was 98 pence, which is below their issue price of 136 pence. The 52-week low price of DQE plc is 57.50 pence and is 42.28% of its issue price. The market capitalization works out to Rs 243.16 crore (Rs/GBP at 68.99). However, liquidity at AIM is poor.
DQE plc has acquired a 20% stake in method animation for a total subscription price of euro 2.5 million. In case of any animated TV series being developed and produced by Method Animation as a delegate producer and fabricated by Method Animation, the company shall be offered the first right to enter into production services agreement with Method Animation.
Strengths
* The global animation industry is one of the fast growing components of the global media and entertainment industry. The global animation market was estimated at US$ 68 billion in 2008 and is expected to grow at a CAGR of 10% to reach US$ 100 billion by 2012. The Indian animation industry, estimated at US$ 494 million in 2008, is miniscule as compared to the global animation industry. However, the Indian animation industry has been growing with an estimated CAGR of 25% during 2006-08 and is estimated to reach a size of about US$ 1095 million by 2012.
* The company has a strong order book worth about US$ 95.07 million, providing high levels of earning visibility. More than 80% of FY2010 revenues are identified with over 40% of the order book in various stages of production and the & balance to commence during the year. Orders worth US$ 28 million are to be executed in FY2010 and US$ 33 million and the balance beyond FY 2010.
* The company has strategically moved along the animation value chain, gaining greater exposure to intellectual property ownership and distribution. It has adopted a low-risk approach, entering into co-production arrangements. As a result, the company would not only continue to receive production revenues generating its usual production margin, but also acquire rights to earn license revenues. It is at a strategic advantage to leverage its position within the production chain by acquiring and/or developing intellectual properties through international co-partnerships.
Weaknesses
* The direct/indirect shareholding in the company of the individual promoter is very low at 11.9% (pre-issue) and 9.5% (post-issue). Also, in future, if the management decides to de-list the ultimate holding company, i.e., DQE plc from AIM, the options might include using funds from DQ Entertainment (International) to buy back the shares or issue shares of DQ Entertainment or DQ Entertainment (Mauritius) to the existing shareholder of DQE plc, thereby diluting the stake of the shareholders of DQ Entertainment (International), the company coming out with IPO.
* The market for animation entertainment is characterised by short product lifecycles and frequent introduction of new products. The company would run the risk of committing resources for the creation of such products and eventually fail to realise anticipated revenues.
Valuation
At the price band of Rs 75 – Rs 80, on consolidated basis EPS of FY2009 of Rs 2, the PE works out to 37.5 – 40 times and on the half yearly annualised EPS for FY2010 of Rs 2.6, the PE works out to 29.2 – 31.2 times. The EV/sales is at 3.4 – 3.6 times, EV/EBITDA is at 9.6 – 10.2 times and market capitalization/sales is 4 – 4.2 times.
The price is 10 – 17% higher than the pre-IPO placement price of Rs 68.11 end December 2009. The company had filed its draft red herring prospectus (DRHP) in September 2009.
Comparing with like companies (FY2009 consolidated numbers), Crest Animation Studios (outsourced production & own IP) had reported a loss in FY2009 with revenue of Rs 57.11 crore and is trading at market capitalisation/sales of 2.8 times, EV/sales of 2.7 times and EV/EBITDA of 2.9 times. Compact Disc (outsourced production and own IP) is trading at PE of 1.3 times and is trading at market capitalization/sales of 0.3 times, EV/sales of 0.4 times and EV/EBITDA of 1.3 times. Prime Focus (VFX, post production and animation) is trading at PE of 18.3 times and is trading at market capitalization/sales of 0.8 times, EV/sales of 1.9 times and EV/EBITDA of 12.9 times.
The market capitalization of the ultimate parent at AIM works out to Rs 243.16 crore (Rs/GBP at 68.99). However, liquidity at the AIM is poor. Against this, market capitalization of DQ Entertainment (International) at the offer price band works out to Rs 595 to Rs 634 crore.
Market may consolidate; industrial production data eyed
Indian stocks may eye global cues in the absence of major domestic triggers as market enters a consolidation phase after a strong post-budget rally. Recent global economic data was mixed. Sovereign debt problems in the euro zone continue to haunt global markets.
Closer home, the government's commitment towards reducing fiscal deficit, a thrust on infrastructure development, and plan to speed up disinvestment in the Union Budget for 2010-2011 has boosted market sentiment. Higher disposable income at the hands of individuals after the finance minister raised the tax slabs in the budget also opens up the possibility of some funds entering the market through the mutual funds route which augurs well for the secondary market.
However, with a spate of new and follow-on offerings to flood the market over the next few months, liquidity will be a major concern. The government has estimated Rs 40000 crore from disinvestment for FY 2010-11. In the Union Budget on 26 February 2010 the government said it would raise Rs 25,958 crore through disinvestment in the fiscal to March 2010. Of this, it has already raised Rs 13,592 crore through divesting minority stakes in NHPC, Oil India, NTPC and REC.
The follow on public offer (FPO) of NMDC is scheduled to open for subscription on Wednesday, 10 March 2010. The pricing for the disinvestment of 8.38% stake in NMDC will be decided on Monday, 8 March 2010 by an empowered group of ministers headed by finance minister Pranab Mukherjee. Retail investors have largely shunned stake sales by the government in recent weeks in NTPC and REC. As per reports, the floor price for the NMDC IPO could be set at Rs 300, or 29% below the prevailing market price of Rs 420, allowing the government to raise about Rs 9,000 crore.
The Indian market would act as a safe heaven for foreign investors as the state of the economy remains quite encouraging. The recent economic data showed surge in manufacturing and services activity in the month of February and rise in exports for the third consecutive month in January 2010.
The government will announce the industrial output data for the month of January 2010 on Friday, 12 March 2010. The data is expected to be robust after the infrastructure sector output which accounts for 26% of the industrial output showed a growth of 9.4% in January 2010 from a year earlier. Industrial output grew 16.8% in December 2009.
The fourth and the last installment of advance tax by India Inc due on 15 March 2010 will give a broad indication of fourth quarter earnings.
Meanwhile, the recent hike in petrol and diesel prices will further increase headline inflation. Higher inflation will put further pressure on interest rates which in turn may impact corporate and consumer confidence. Food prices will be keenly watched in coming weeks for the second and third round impacts of the fuel price rise. Market men see a 25 basis points hike in the repo and reverse repo rates each by the RBI at the April 2010 policy review.
Food price index rose 17.87% in the 12 months to 20 February 2010, faster than the annual rise of 17.58% in the previous week, government data released on 4 March 2010 showed. Food inflation data in the 12 months to 27 February 2010 will be announced on Thursday, 11 March 2010 followed by a inflation figure for the month of February 2010 on 15 March 2010.
Market gives thumbs up to Budget
Investors gave a thumbs to Union Budget 2010-2011 as the market witnessed a strong post-budget rally. Data showing a surge manufacturing and services activity in the month of February and rise in exports for the third consecutive month in January 2010, also aided the rally. Finance Minister Pranab Mukherjee's budget proposals which offered to progressively cut fiscal deficit over the next three fiscal years, changed personal tax rates which will lift disposable incomes in the hand of individuals and reduced surcharge on corporate tax for domestic companies to 7.5% from 10% in Union Budget 2010-2011 boosted sentiment. The market gained in three out of four trading sessions in the week.
The BSE 30-share Sensex rose 564.94 points or 3.44% to 16994.49 in the week ended 5 March 2010. The 50-unit Nifty rose 166.40 points or 3.38% to 5,088.70.
The BSE Mid-Cap index rose 5.28% and The BSE Small-Cap index rose 5.36%. Both theses indices outperformed Sensex.
Prime Minister Manmohan Singh said on Friday the economy would grow by at least 8% in the year through March 2011. Asia's third largest economy would expand 7.2-7.5% in 2009/10. Singh said prospects for the winter-sown crop are 'very encouraging'. He also said the government must pay good prices to farmers to ensure higher farm production. The prime minister said the government will take all practical measures to bring down food prices.
He said the government will continue commitment to pubic and private investment in agriculture. The prime minster said there is need to find ways and means to stabilise the sugar economy.
A good harvest is likely to bring down food inflation, which accelerated to nearly 18% in late February. The government, facing mounting criticism for rising food prices, is struggling to meet conflicting aims of controlling food inflation and trying to please farmers by paying them attractive prices.
The economy is likely to do better in the quarter to March than the three preceding quarters, Finance Secretary Ashok Chawla said on Friday, 26 February 2010. The economy grew a slower than expected 6% annually in the December quarter.
Food price index rose 17.87% in the 12 months to 20 February 2010, faster than the annual rise of 17.58% in the previous week, government data released on Thursday, 4 March 2010 showed. The fuel price index was up 9.59%. The primary articles index rose 15%. Higher inflation is likely to add pressure on the central bank to raise interest rates in April 2010.
Meanwhile, business activity among Indian service companies grew at its fastest pace in 17 months in February 2010, climbing for the third straight month as both output and new orders increased, a survey showed on Wednesday, 3 March 2010. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 60.9 in February 2010, its highest since September 2008, and compared with 59 in January 2010. The business expectations sub-index rose for the second straight month to 73.1 in February 2010, its highest in four months. It stood at 66.6 in January 2010.
The manufacturing industry in February 2010 grew at its fastest pace in 20 months, expanding for the third month thanks to expanding output and new orders, a survey showed. The HSBC Markit Purchasing Managers' Index, based on a survey of 500 companies, rose to 58.5 in February, its strongest reading since June 2008, from 57.7 in January. A reading above 50 means activity is expanding.
Exports rose an annual 11.5% in January 2010 to $14.3 billion, the third consecutive rise after 13 straight months of decline, the government said on Tuesday. Imports rose 35.5% from a year earlier to $24.7 billion. The trade deficit stood at $10.4 billion in January compared with $5.4 billion a year earlier. Exports for April-January, the first 10 months of the 2009/10 fiscal year, were down 17.8% at $131.9 billion from the same period in the previous year.
Finance Minister in his budget speech on Friday, 26 February 2010 said the government aims to introduce the Goods and Services Tax (GST) and implement the direct tax code from 1 April 2011. The peak rate of excise duties has been raised to 10% from 8% as a first step towards the winding down of fiscal stimulus measures. However, the service tax was retained at 10%.The government has estimated Rs 40000 crore from disinvestment for FY 2010-11. Revenue secretary Sunil Mitra on Friday said he does not see any difficulty in achieving divestment target of Rs 40000 crore for FY 2011.The government has estimated Rs 35000 crore from sale of third generation telecom auctions in FY 2011.
The finance minister has raised personal income tax slabs which will result in increase in disposable incomes which in turn may boost consumption. The minimum alternate tax (MAT) has been raised to 18% from 15% of book profits. The fiscal deficit is pegged at 5.5% of GDP for 2010-2011, lower than an estimated 6.8% for the current fiscal year. The planned expenditure will rise 15% in 2010-2011. The increase in non-plan expenditure is only 6% for 2010-2011.
The finance minister said the government also aimed to reduce the deficit further to 4.8% of GDP in the year starting 1 April 2011, and to 4.1% in the year from 1 April 2012. He said there is a need to review stimulus and move towards fiscal consolidation and review public spending.
A thrust on the infrastructure sector augurs well from a long-term growth perspective. The Finance Minister has provided Rs 1.73 lakh crore for infrastructure development in 2010-2011, which accounts for over 46% of the total plan expenditure for the year.
The stock market has applauded the Union Budget 2010-2011 due to its thrust on infrastructure development, government's pledge to reduce fiscal deficit over the next three years, a smaller-than-expected 2% hike in excise duties, and reduction in taxes for individuals which will boost disposable income. The Finance Minister has assumed a modest GDP of about 8% and inflation of about 4.5% for 2010-2011.
The Finance Minister plans to tighten his belt on non-plan expenditure that includes heads like subsidies and administrative costs etc. He has forecast a small 6% growth in non-plan expenditure. The budget projects an 11% reduction in the government's subsidy bill for 2010-11, driven essentially by a massive drop in petroleum subsidies and some decline in fertiliser subsidies.
Though the Finance Minister said that the government will implement the Direct Tax Code from 1 April 2011, there is no clarity on actual changes in direct taxes from 1 April 2011. Further, there is also uncertainty with regards to rates under the new GST. One really does not know what the Central GST rate will be in April 2011. States also will charge State GST on the same base as that of Central GST. So the States will have a big say in fixing the rate. It has also to be a revenue neutral rate (RNR) which therefore will involve a lot of arithmetical exercise involving all the taxes which will be subsumed in the GST. It is most uncertain what it will be.
The government will introduce legislation for a direct tax code in the monsoon session of parliament, revenue secretary Sunil Mitra said on Friday.
The key benchmark indices surged for the second straight day on Tuesday, 2 March 2010, extending post-budget gains after finance minister Pranab Mukherjee on Friday 26 February 2010 offered to progressively cut fiscal deficit over the next three fiscal years. The BSE 30-share Sensex rose 343.01 points or 2.09% to 16,772.56 on Tuesday.
The key benchmark indices extended gains for the third straight day on Wednesday, 3 March 2010 on higher Asian stocks. The BSE 30-share Sensex rose 227.45 points or 1.36% to 17,000.01 on Wednesday.
Key benchmark indices ended slightly lower after witnessing intraday volatility, ending three-day winning streak on Thursday, 4 March 2010. Fears of rise in interest rates following rise in food inflation weighed on the sentiment. The BSE 30-share Sensex was down 28.31 points or 0.17% to 16,971.70 on that day.
The key benchmark indices eked out marginal gains in what was a volatile trading session on Friday, 5 March 2010. The BSE 30-share Sensex rose 22.79 points or 0.13% to 16,994.49 on that day.
Realty shares rose after the Finance Minister while presenting the Union Budget 2010-11 on 26 February 2010 said pending projects will be allowed to be completed within a period of five years instead of four years for claiming a deduction on profits. The norms for built-up area of shops and other commercial establishments in housing projects is also proposed to be relaxed to enable basic facilities for their residents. DLF (up 6.53%), Indiabulls Real Estate (up 8.96%), Unitech (up 8.15%) gained.
Index heavyweight Reliance Industries (RIL) rose 3.29%. As per recent reports, RIL has no plans to increase its bid for bankrupt chemicals maker LyondellBasell Industries after creditors rejected a $14.5 billion offer.
India's largest private sector housing firm by net profit ICICI Bank rose 3.44%. The bank has raised auto loans by 25-50 basis points for different tenors and segments, effective from 5 March 2010. The bank has also discontinued its special home loan rate of 8.25% for two years. The bank will now charge 8.75% for loans up to Rs 30 lakh, 9% for loans of Rs 30 to Rs 50 lakh and 9.5% for loans over Rs 50 lakh.
Auto stocks rose as the government hiked the excise duty by 2% to 10% from 8% earlier. This came as a relief as the industry feared a 4% hike. A thrust on infrastructure and higher rural spending also augur well for the auto sector. A spurt in February vehicle sales also supported auto stocks.
India's largest two-wheeler maker Hero Honda Motors rose 4.74%. The company on Tuesday reported a 16.13% increase in its sales at 3,82,096 units in February 2010 over February 2009, the best-ever reported by the company for the month of February.
India's largest tractor maker by sales Mahindra & Mahindra rose 6.8%. The company's total vehicle sales surged 39.51% to 27,894 units in February 2010 over February 2009.
India's largest commercial vehicle maker by sales Tata Motors rose 11.85%. The company's total vehicle sales rose 58.46% to 69,427 units in February 2010 over February 2009.
Bajaj Auto gained 4.66%. The total vehicle sales surged 75% to 2.68 lakh units in February 2010 over February 2009.
TVS Motor Company rose 7.18%. TVS Motor Company has reportedly increased the prices of its vehicles by Rs 350 to Rs 1,500 across various models effective 1 March 2010. The hike follows an increase in excise duty by 2% in the union budget announced on Friday, 26 February 2010.The company's total two wheeler sales rose 31% to 1,40,544 units in February 2010 over February 2009.
But, India's largest car maker by sales Maruti Suzuki India fell 0.44%. The total vehicle sales rose 22% to 96,650 units in February 2010 over February 2009. The company has raised vehicle prices by Rs 3,000-Rs 13,000 following increase in excise duty in the Budget
Another minor positive for auto companies was higher slabs for personal income tax that would leave more finance in hands of individuals.
Sensex settles a tad below 17,000; breadth strong
The key benchmark indices ended slightly higher in a volatile trading session as profit taking emerged in frontline stocks after strong intraday gains. The BSE 30-share Sensex was up 22.79 points or 0.13%, off 103.22 points from the day's high and up 58.37 points from the day's low. The barometer index settled below the psychological 17,000 mark after alternatively moving above and below that level in intraday trade. Global cues were positive with European and Asian markets and US index futures trading firm.
The market breadth was strong. Realty shares extended Thursday's gains on follow-up buying. Banking and telecom stocks advanced on fresh buying. IT stocks were mixed. Metal stocks declined mirroring a fall in metal prices on the London Metal Exchange (LME) on Thursday. Index heavyweight Reliance Industries (RIL) also edged lower.
The market was volatile. The market opened on a firm note tracking gains in Asian stocks. It moved in a narrow range till mid-morning trade. The market cut gains in early afternoon trade after the government sought additional spending plan for the current year. The market slipped into the red later. The market regained strength in mid-afternoon trade as world stocks rose. The market pared gains in late trade.
India VIX, a volatility index based on the S&P CNX Nifty index option prices, shed 1.14% to 20.74. The index has witnessed a steep fall in the last few trading sessions after the government tabled the Union Budget for 2010-2011 in the parliament on Friday, 26 February 2010. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days. Typically, volatility surges ahead of a major event such as the Budget. It falls after the event.
The government said on Friday it will seek parliamentary approval to spend an extra Rs 31780 crore for the fiscal year to end-March 2010, which it plans to fund through savings. There is no risk that the government will borrow more than planned to fund supplementary spending, Revenue Secretary Sunil Mitra said on Friday. Of the additional spending, Rs 12000 crore would be spent on oil subsidy, Rs 8000 crore on fertiliser subsidy and Rs 2459 crore on food subsidy, among others. The government also sought parliament's nod for Rs 13.67 lakh crore of debt repayment in 2009-10.
Prime Minister Manmohan Singh said on Friday the economy would grow by at least 8% in the year through March 2011. Asia's third largest economy would expand 7.2-7.5% in 2009-10, he told parliament. Singh said prospects for the winter-sown crop are 'very encouraging'. He also said the government must pay good prices to farmers to ensure higher farm production. The prime minister said the government will take all practical measures to bring down food prices.
He said the government will continue commitment to pubic and private investment in agriculture. The prime minster said there is need to find ways and means to stabilise the sugar economy.
A good harvest is likely to bring down food inflation, which accelerated to nearly 18% in late February. The government, facing mounting criticism for rising food prices, is struggling to meet conflicting aims of controlling food inflation and trying to please farmers by paying them attractive prices.
In global fund news, investors pulled money out of Chinese and European equity funds last week following policy risks and fears about Greece's debt problems, EPFR Global said on Friday. Emerging equity funds had a third straight week of inflows, with a relatively modest $240 million flowing into the funds. Year-to-date net inflows have grown to $2.2 billion. Asia ex-Japan, Latin America and EMEA Equity Funds had net inflows ranging from $42 million to $169 million.
China equity funds had $17 million moving out of the door, while BRIC equity funds enjoyed inflows. The year-to-date average weekly inflow into BRIC funds however is less than half of the $190 million averaged in the fourth quarter of 2009.
Banking shares led gains in European stocks on Friday. The key benchmark indices in UK, Germany and France were up by between 0.49% to 0.76%.
In meetings held on 4 March 2010, both Bank of England (BOE) and European Central Bank (ECB) left their key lending rates at record low levels amid sluggish and uncertain economic recovery. BOE maintained its key lending rate at 0.5% while ECB left its key lending rate unchanged at 1%.
Economic growth in the 16 countries that use the euro slowed in the fourth quarter, revised official data showed on Thursday, 4 March 2010. Quarterly gross domestic product growth slowed to 0.1% in the final three months of last year from 0.4% in the three months to the end of September, the European Union's Eurostat statistics agency said. However, the yearly drop in GDP in the third quarter was revised to show a deeper decline of 4.1% from the previous reading of 4%.
Asian stocks rose on Friday, 5 March 2010 after US jobless claims fell and the yen weakened on speculation the Bank of Japan will expand its monetary easing measures. The key benchmark indices in Hong Kong, South Korea, Singapore, Taiwan, Indonesia, China and Japan, rose by between 0.25% to 2.20%.
Chinese shares in Shanghai and Hong Kong ended higher after Premier Wen Jiabao said the government will maintain its moderately loose policies and set an 8% economic growth target for this year. Wen said China's GDP grew 8.7% to 33.5 trillion yuan in 2009. The Chinese Premier also pledged additional measures to curb speculation in the nation's housing market, signaling tighter lending to the sector, targeted taxes, and stricter enforcement real-estate laws.
US markets logged modest gains on Thursday, 4 March 2010 after better-than-expected retail-sales reports. The Dow Jones industrial average gained 47.38 or 0.5%, to 10,444.14. The Nasdaq Composite index rose 11.63 points or 0.51% to 2,292.31 and the S&P 500 index gained 4.18 points or 0.37% to 1,122.97
In US economic data, initial jobless claims for the week ended 27 February 2010 totaled 469,000, which was in-line with the consensus call. Continuing claims dropped more than expected to 4.50 million.
A key economic data due later in the global days is US non-farm payrolls for February 2010. Economists expect payrolls to decline by a seasonally adjusted 90,000, in part because of debilitating snow storms that hit the eastern half of the nation on 4 February and 9 February. They think the unemployment rate probably ticked up to 9.8%
Factory orders for January 2010 increased 1.7%, which was in stride with the 1.8% increase that had been widely expected.
Trading in US index futures indicated that the Dow could rise 38 points at the opening bell on Friday, 5 March 2010.
Closer home, last week's hike in petrol and diesel prices will further increase headline inflation. Higher inflation will put further pressure on interest rates which in turn may impact corporate and consumer confidence. However, Prime Minister Manmohan Singh on Monday tried to allay fears of fuel price hike stoking inflation. He said the direct effect on the Wholesale Price Index (WPI) will be no more than 0.4%.
Food prices will be keenly watched in coming weeks for the second and third round impacts of the fuel price rise. Market men see a 25 basis points hike in the repo and reverse repo rates each by the RBI at the April 2010 policy review.
The government has set its gross market borrowing target for 2010/11 at a record Rs 4.57 lakh crore, up by 1.3% percent from the previous year, sending bond yields into a tizzy and sparking fresh worries on liquidity.
Food price index rose 17.87% in the 12 months to 20 February 2010, faster than the annual rise of 17.58% in the previous week, government data released on 4 March 2010 showed. The fuel price index was up 9.59%. The primary articles index rose 15%. Higher inflation is likely to add pressure on the central bank to raise interest rates in April 2010.
Meanwhile, Congress president Sonia Gandhi has reportedly signaled her support for a move to raise taxes on fuel in last year's Budget. The Congress president has reportedly praised finance minister Pranab Mukherjee for a well-balanced budget and said growth is the engine of the Budget
Prime Minister Manmohan Singh had earlier ruled out rolling back a price hike in fuel prices despite pressure from his main allies, saying populist policies would hurt the economy in the long-term. Petrol prices rose about 6% and diesel prices by 7.75% after the government increased factory-gate taxes and import duties on the fuels as part of last week's 2010-11 union budget 2010-11, which stressed fiscal prudence to cut a wide deficit
Business activity among Indian service companies grew at its fastest pace in 17 months in February 2010, climbing for the third straight month as both output and new orders increased, a survey showed on Wednesday, 3 March 2010. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 60.9 in February 2010, its highest since September 2008, and compared with 59 in January 2010. The business expectations sub-index rose for the second straight month to 73.1 in February 2010, its highest in four months. It stood at 66.6 in January 2010.
Finance minister Pranab Mukherjee's budgetary proposals last week offered a progressive cut in fiscal deficit over the next three fiscal years, changed personal tax rates lifting disposable incomes in the hand of individuals and reduced surcharge on corporate tax for domestic companies to 7.5% from 10%.
The Finance Minister in his budget speech on Friday, 26 February 2010 said the government aims to introduce the Goods and Services Tax (GST) and implement the direct tax code from 1 April 2011. The peak rate of excise duties has been raised to 10% from 8% as a first step towards the winding down of fiscal stimulus measures. However, the service tax was retained at 10%.The government has estimated Rs 40000 crore from disinvestment for FY 2010-11. Revenue secretary Sunil Mitra today said he does not see any difficulty in achieving divestment target of Rs 40000 crore for FY 2011.The government has estimated Rs 35000 crore from sale of third generation telecom auctions in FY 2011.
The finance minister has raised personal income tax slabs which will result in increase in disposable incomes which in turn may boost consumption. The minimum alternate tax (MAT) has been raised to 18% from 15% of book profits. The fiscal deficit is pegged at 5.5% of GDP for 2010-2011, lower than an estimated 6.8% for the current fiscal year. The planned expenditure will rise 15% in 2010-2011. The increase in non-plan expenditure is only 6% for 2010-2011.
The finance minister said the government also aimed to reduce the deficit further to 4.8% of GDP in the year starting 1 April 2011, and to 4.1% in the year from 1 April 2012. He said there is a need to review stimulus and move towards fiscal consolidation and review public spending.
A thrust on the infrastructure sector augurs well from a long-term growth perspective. The Finance Minister has provided Rs 1.73 lakh crore for infrastructure development in 2010-2011, which accounts for over 46% of the total plan expenditure for the year.
The stock market has applauded the Union Budget 2010-2011 due to its thrust on infrastructure development, government's pledge to reduce fiscal deficit over the next three years, a smaller-than-expected 2% hike in excise duties, and reduction in taxes for individuals which will boost disposable income. The Finance Minister has assumed a modest GDP of about 8% and inflation of about 4.5% for 2010-2011.
The Finance Minister plans to tighten his belt on non-plan expenditure that includes heads like subsidies and administrative costs etc. He has forecast a small 6% growth in non-plan expenditure. The budget projects an 11% reduction in the government's subsidy bill for 2010-11, driven essentially by a massive drop in petroleum subsidies and some decline in fertiliser subsidies.
However, any sharp surge in crude oil prices will result in higher oil subsidies. The Finance Minister has provided only Rs 3108 crore towards oil subsidy for 2010-2011 and also indicated that he will not issue bonds this year as well. This means that he is either assuming that crude oil prices are going to remain very low or he is making an implicit assumption that the Kirit Parikh Committee report in some form will be implemented. It may be recalled that the Kirit Parikh Committee has suggested freeing of auto fuel prices and raising kerosene prices by Rs 6 a litre and cooking gas Rs 100 per 14.2-kg cylinder.
Though the Finance Minister said that the government will implement the Direct Tax Code from 1 April 2011, there is no clarity on actual changes in direct taxes from 1 April 2011. Further, there is also uncertainty with regards to rates under the new GST. One really does not know what the Central GST rate will be in April 2011. States also will charge State GST on the same base as that of Central GST. So the States will have a big say in fixing the rate. It has also to be a revenue neutral rate (RNR) which therefore will involve a lot of arithmetical exercise involving all the taxes which will be subsumed in the GST. It is most uncertain what it will be.
The government will introduce legislation for a direct tax code in the monsoon session of parliament, revenue secretary Sunil Mitra said on Friday.
Going ahead, the key triggers for the stock market are structural reforms such as decontrol of petrol and diesel prices, targeting of food subsidies, and financial sector reforms such as increase in foreign direct investment in insurance sector.
Finance Minister Pranab Mukherjee on Wednesday, 3 March 2010 said India's economic recovery is still being driven by public spending and is not yet broad-based, further clouding the debate on the timing of rate hikes by the central bank.
The economy is likely to do better in the quarter to March than the three preceding quarters, Finance Secretary Ashok Chawla said on Friday, 26 February 2010. The economy grew a slower than expected 6% annually in the December quarter, data showed on Friday.
The manufacturing industry in February 2010 grew at its fastest pace in 20 months, expanding for the third month thanks to expanding output and new orders, a survey showed. The HSBC Markit Purchasing Managers' Index , based on a survey of 500 companies, rose to 58.5 in February, its strongest reading since June 2008, from 57.7 in January. A reading above 50 means activity is expanding.
Exports rose an annual 11.5% in January 2010 to $14.3 billion, the third consecutive rise after 13 straight months of decline, the government said on Tuesday. Imports rose 35.5% from a year earlier to $24.7 billion. The trade deficit stood at $10.4 billion in January compared with $5.4 billion a year earlier. Exports for April-January, the first 10 months of the 2009/10 fiscal year, were down 17.8% at $131.9 billion from the same period in the previous year.
The BSE 30-share Sensex was up 22.79 points or 0.13% to 16,994.49. The index rose 126.01 points at the day's high of 17,097.71 in morning trade. The Sensex declined 35.58 points at the day's low of 16,936.12 in afternoon trade.
The S&P CNX Nifty was up 8.45 points or 0.17% to 5088.70
The BSE Mid-Cap index rose 0.62% to 6,735.49 and the BSE Small-Cap index rose 0.82% to 8,499.64. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1684 shares advanced as compared with 1206 that declined. A total of 93 shares remained unchanged.
The total turnover on BSE amounted to Rs 5881 crore, as compared with Rs 5240 crore on Thursday, 4 March 2010
Most sectoral indices on BSE advanced. The BSE Auto index index ended unchanged. The BSE Realty index (up 1.77%), the BSE Teck index (up 0.47%), and the BSE HealthCare index (up 0.31%), outperformed the Sensex.
The BSE PSU index (down 0.55%), and the BSE Consumer Durables index (down 0.54%), underperformed the Sensex.
Among the 30-member Sensex pack, 16 advanced while the rest declined.
Sun Pharma (up 1.51%), Jaiprakash Associates (up 1.01%), and Reliance Infrastructure (up 0.88%), edged higher from the Sensex pack
Bhel (down 1.10%), NTPC (down 0.53%), and ITC (down 0.43%) edged lower from the Sensex pack.
Realty shares extended Thursday's gains on follow-up buying. The Finance Minister while presenting the Union Budget 2010-11 on 26 February 2010 said pending projects will be allowed to be completed within a period of five years instead of four years for claiming a deduction on profits. The norms for built-up area of shops and other commercial establishments in housing projects is also proposed to be relaxed to enable basic facilities for their residents.
India's largest real estate developer by sales DLF jumped 4.29% to Rs 317.50 and was the top gainer from the Sensex pack.
Indiabulls Real Estate (up 1.04%), HDIL (up 1.58%), Orbit Corporation (up 0.90%), Omaxe (up 2.45%), and Parsvnath Developers (up 0.12%), gained.
Index heavyweight Reliance Industries (RIL) was down 0.37% to Rs 1010. The stock was off the day's high of Rs 1027.90. As per recent reports, RIL has no plans to increase its bid for bankrupt chemicals maker LyondellBasell Industries after creditors rejected a $14.5 billion offer.
Petronet LNG surged 6.46% on reports that the government is looking to exempt natural gas from import duties.
India's largest private sector housing firm by net profit ICICI Bank rose 0.54%. The bank has raised auto loans by 25-50 basis points for different tenors and segments, effective from 5 March 2010. The bank has also discontinued its special home loan rate of 8.25% for two years. The bank will now charge 8.75% for loans up to Rs 30 lakh, 9% for loans of Rs 30 to Rs 50 lakh and 9.5% for loans over Rs 50 lakh.
Other banking shares also edged higher. India's largest bank by net profit and branch network State Bank of India rose 0.57%. The bank's chairman will review home loan rate by 31 March 2010
India's second largest private sector housing firm by net profit HDFC Bank rose 0.20%.
India's largest mortgage lender by income Housing Development Finance Corporation (HDFC) fell 0.29% to Rs 2580.10, after hitting a day's high of Rs 2625. The firm has withdrawn special home loan schemes on Thursday, 4 March 2010.
The Reserve Bank of India (RBI) said on Friday the new base lending rate for banks will take effect from 1 July 2010. In mid-February, the RBI had said it would introduce the base rate from 1 April 2010. According to the draft guidelines, 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
Telecom shares were in demand on fresh buying. India's largest cellular services provider by sales Bharti Airtel jumped 1.83%. India's second largest cellular services provider by sales Reliance Communications gained 0.46%.
The Centre on 25 February 2010 issued notices inviting bids from private telecom players to participate in the auction of radio frequency spectrum for third generation (3G) telephony. The schedule calls for the process to end on 10 April 2010. The government also said auction for spectrum for broadband services will also be held two days after the process concludes for 3G spectrum.
3G or third generation telecom services allow faster connectivity than what is available now, and will enable applications such as internet TV, video-on-demand, audio-video calls and high-speed data exchange.
India's largest truck maker by sales Tata Motors slipped 1.93% to Rs 796 and was the top loser from the Sensex pack. The stock declined on high volume of 47.85 lakh shares, most of which came on the back of bulk deals executed in early trade.
Other auto stocks were mixed. India's largest two-wheeler maker by sales Hero Honda Motors rose 3.38%. India's second largest two-wheeler maker by sales Bajaj Auto advanced 0.37%.
India's largest tractor maker by sales Mahindra & Mahindra was unchanged at Rs 1076. India's largest car maker by sales Maruti Suzuki India slipped 0.48%.
IT pivotals were mixed after the rupee rose to its highest level in more than six weeks against the dollar on Friday as stronger regional peers cheered sentiment.
India's second largest software firm by sales Infosys Technologies was up 0.21% and India's largest software firm by sales TCS fell 0.11%.
India's third largest software firm by sales Wipro declined 1.22% to Rs 685, off day's high of Rs 700.80. The company's IT services division Wipro Technologies entered into a 7-year deal with The Main Street America Group to provide software services. The announcement was made after market hours on Thursday, 4 March 2010.
The partially convertible rupee was at 45.68/69 per dollar, above its previous close of 45.80/81 on Thursday. A firm rupee adversely affects operating profit margins of IT firms as the sector derives a lion's share of revenue from exports.
Metal stocks declined after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 1.80% on Thursday, 4 March 2010.
Tata Steel (down 0.07%), Steel Authority of India (down 1.18%), Hindalco Industries (down 0.74%), Hindustan Zinc (down 0.42%), Sesa Goa (down 1.97%), National Aluminum Company (down 0.46%), and Sterlite Industries (down 0.99%), edged lower.
NMDC was down 4.62% to Rs 415.05 on reports the government may set the floor price for the stake sale in the company at about Rs 300 a piece, a huge discount to the ruling market price. The follow-on public offer (FPO) of NMDC is scheduled to open on 10 March 2010 and end on 12 March 2010 and the indicative price range is expected to be set on Monday, 8 March 2010, after a meeting of a panel of ministers.
JSW Steel rose 3.03% after the company's crude steel production rose 69% to 5.02 lakh tonnes in February 2010 over February 2009. The announcement was made after market hours on Thursday, 4 March 2010.
Shipping shares extended gains for the second running day after the Baltic dry index, which tracks rates to ship dry commodities, jumped 7.21% to 3,121 in London on Thursday, 4 March 2010.
Mercator Lines (up 2.27%), Shipping Corporation of India (up 1.02%), SKS Ship (up 1.85%), Varun Shipping Company (up 1.75%), GE Shipping Company (up 2.07%), and Essar Shipping (up 1.20%), edged higher.
The Baltic Dry Index (BDI) is showing signs of recovery in the New Year. During the depth of the global economic crisis in 2008, the BDI shed 90% of its value. In fact, from an all time high of 11,793 on 20 May 2008, the index nosedived to an all-time low of 663 in October 2008 as the global demand for raw materials slumped.
Gujarat Gas Company rose 1.76% after net profit surged 46.60% to Rs 46.31 crore on 17.94% rise in net sales to Rs 377.94 crore in Q4 December 2009 over Q4 December 2008. The company announced the results after trading hours on Thursday, 4 March 2010.
Hindustan Construction Company gained 3.40% after the company bagged two orders aggregating Rs 299.36 crore. The company announced the fresh orders after market hours on Thursday, 4 March 2010.
Pidilite Industries jumped 5.53% after the company fixed 17 March 2010 as the record date for a liberal 1:1 bonus issue. The company announced the record date after market hours on Thursday, 4 March 2010.
Suzlon Energy rose 3.41% after the company's North American subsidiary said it plans to generate 728 megawatts of clean power in the US in 2010 through nine wind farms.
Shree Renuka Sugars moved up 4.92%. The company on 4 March 2010 fixed 17 March 2010 as the record date for a liberal 1:1 bonus issue.
Sulzer India was locked at upper circuit limit of 20% after the company's board approved the delisting proposal by its parent company. The announcement was made before trading hours today, 5 March 2010.
Zicom Electronic Security Systems jumped 13.58% after the company announced a strategic restructuring business to refresh its focus on the home & SME electronic security markets. The company made this announcement during trading hours today, 5 March 2010.
ARSS Infrastructure clocked the highest turnover of Rs 568.68 crore on BSE. Tata Motors (Rs 387.78 crore), Suzlon Energy (Rs 150.21 crore), Sesa Goa (Rs 119.92 crore) and Jubilant Foodworks (Rs 110.05 crore) were the other turnover toppers in that order.
Suzlon Energy clocked the highest volume of 1.87 crore shares on BSE. Cals Refineries (1.36 crore shares), Shree Ashtvinayak Cine Vision (1.04 crore shares), Pipavav Shipyard (1.02 crore shares) and Unitech (85.38 lakh shares) were the other volume toppers in that order.
BSE Bulk Deals to Watch - March 5 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
5/3/2010 530093 Ace India VIJAY KUMAR MISHRA B 20000 15.40
5/3/2010 530093 Ace India UMA GOEL S 70000 15.40
5/3/2010 590006 Amrutanjan Health ASHUTOSH SANGHAI B 17759 678.59
5/3/2010 520077 Amtek Auto SWISS FINANCE CORPORATION (MAURITIUS) LTD B 1977451 170.90
5/3/2010 520077 Amtek Auto CLSA (MAURITIUS) LIMITED S 2000000 170.91
5/3/2010 533163 ARSS INFRA NAVEEN TAPARIA B 87572 806.19
5/3/2010 533163 ARSS INFRA BLUE PEACOCK SECURITIES PRIVATE LIMITED B 105000 825.60
5/3/2010 533163 ARSS INFRA SANJEEV SINGHAL B 214659 807.40
5/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD B 288941 804.24
5/3/2010 533163 ARSS INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD B 120271 807.83
5/3/2010 533163 ARSS INFRA MARWADI SHARES AND FINANCE LTD. B 153537 808.23
5/3/2010 533163 ARSS INFRA NAMAN SECURITIES & FINANCE PRIVATE LIMITED B 90000 806.60
5/3/2010 533163 ARSS INFRA JMP SECURITIES PVT LTD B 134296 801.92
5/3/2010 533163 ARSS INFRA MUDRA SECURITIES B 100000 790.50
5/3/2010 533163 ARSS INFRA A K G STOCK BROKERS PRIVATE LIMITED B 92024 806.79
5/3/2010 533163 ARSS INFRA GENUINE STOCK BROKERS PVT. LTD. B 290131 806.54
5/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED B 558819 805.92
5/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED S 558819 806.36
5/3/2010 533163 ARSS INFRA GENUINE STOCK BROKERS PVT. LTD. S 290131 806.59
5/3/2010 533163 ARSS INFRA A K G STOCK BROKERS PRIVATE LIMITED S 92024 807.59
5/3/2010 533163 ARSS INFRA BLUE PEACOCK SECURITIES PRIVATE LIMITED S 105000 790.73
5/3/2010 533163 ARSS INFRA JMP SECURITIES PVT LTD S 159628 807.05
5/3/2010 533163 ARSS INFRA NAMAN SECURITIES & FINANCE PRIVATE LIMITED S 90000 785.34
5/3/2010 533163 ARSS INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD S 120271 806.93
5/3/2010 533163 ARSS INFRA MARWADI SHARES AND FINANCE LTD. S 153537 808.23
5/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD S 288941 804.99
5/3/2010 533163 ARSS INFRA SANJEEV SINGHAL S 214659 807.70
5/3/2010 533163 ARSS INFRA MUDRA SECURITIES S 100000 826.55
5/3/2010 533163 ARSS INFRA NAVEEN TAPARIA S 87572 807.33
5/3/2010 503940 Asian Elect SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT S 200000 33.15
5/3/2010 505036 Automobile Corp BENGAL FINANCE & INVESTMENT PVT.LTD. S 36404 235.00
5/3/2010 507944 Bajaj Steel VEDANT SUNIL BAJAJ B 12500 189.00
5/3/2010 507944 Bajaj Steel PAWANKUMAR SHRINIWAS RUIA S 11425 189.00
5/3/2010 507944 Bajaj Steel PAWANKUMAR SHRINIWAS RUIA S 11560 188.98
5/3/2010 531337 Channel Guide NAILESH SWARUPCHAND MEHTA B 50000 13.45
5/3/2010 531337 Channel Guide RAJENDRA SHARAD KARNIK S 50000 13.45
5/3/2010 530495 Chhattisgarh Inds SARITA NUPUR VYPAAR PRIVATE LIMITED S 39000 14.68
5/3/2010 503796 Digjam SUMAN DEVI B 1080187 12.83
5/3/2010 503796 Digjam RICH APPARELS PRO MANOJ MEHTA B 688948 12.99
5/3/2010 503796 Digjam INVENTURE GROWTH & SECURITIES LTD. B 379284 12.74
5/3/2010 503796 Digjam INVENTURE GROWTH & SECURITIES LTD. S 383783 12.76
5/3/2010 503796 Digjam RICH APPARELS PRO MANOJ MEHTA S 688948 12.79
5/3/2010 503796 Digjam SUMAN DEVI S 1080187 12.81
5/3/2010 503796 Digjam ARCIL BIRLA VXL LIMITED TRUST S 1200000 12.42
5/3/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD B 274264 19.46
5/3/2010 517973 DMC Intl LALESHWAR KUMAR RAUT B 270201 19.49
5/3/2010 517973 DMC Intl MUKESH KUMAR GUPTA S 135318 19.31
5/3/2010 517973 DMC Intl CENTENARY SOFTWARE PVT LTD S 273764 19.52
5/3/2010 532927 Eclerx Serv NAMBE INVESTMENT HOLDINGS B 1025000 539.39
5/3/2010 532927 Eclerx Serv BURWOOD VENTURES LTD S 1000000 540.00
5/3/2010 530337 Exelon Infra HITESH SHASHIKANT JHAVERI B 25535 18.29
5/3/2010 530337 Exelon Infra HITESH SHASHIKANT JHAVERI S 25046 18.30
5/3/2010 511668 Fact Enterprise SURESH MEHTA B 50000 35.75
5/3/2010 511668 Fact Enterprise ATUL KUMAR SINGHI B 40000 34.63
5/3/2010 511668 Fact Enterprise SUMANDEVI ATUL KUMAR SINGHI B 40000 34.85
5/3/2010 511668 Fact Enterprise RAJESH KAILASHCHANDRA SUREKA S 50000 34.88
5/3/2010 511668 Fact Enterprise KALPESH J PATEL S 60000 35.75
5/3/2010 511668 Fact Enterprise SUVIDHA SECURITIES PVT LTD S 94000 34.82
5/3/2010 511668 Fact Enterprise COMFORT INTECH LIMITED S 50000 34.92
5/3/2010 500141 Ferro Alloys JMP SECURITIES PVT LTD B 1182950 19.52
5/3/2010 500141 Ferro Alloys JMP SECURITIES PVT LTD S 1030695 18.39
5/3/2010 532768 FIEM Inds MANMOHAN DAMANI B 100000 103.00
5/3/2010 532768 FIEM Inds PARAM COMMODITIES PVT.LTD. S 107480 103.18
5/3/2010 532139 G Tech Info VIJAY TUKARAM CHILE S 945467 5.07
5/3/2010 531904 Globus Corp SRIDEVI MEDABALMI B 369289 1.14
5/3/2010 532980 Gokul Refoils CHHATISGARH INVESTMENTS LTD S 1550000 57.49
5/3/2010 532951 GSS America DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 68737 323.87
5/3/2010 524314 Gujarat Terce HARENBHAI HARSHVADANBHAI NANDANI B 41051 17.73
5/3/2010 509684 India Foils ESS DEE ALUMINIUM LTD S 526648 8.26
5/3/2010 523844 Invicta Meditek VAIBHAV BALU ZORE B 30000 5.37
5/3/2010 523844 Invicta Meditek DURAI VENKATESAN B 38500 5.37
5/3/2010 523844 Invicta Meditek NARESH CHAND JAIN B 34000 5.43
5/3/2010 523844 Invicta Meditek SIMRAN SUNIL RAHEJA B 49006 5.37
5/3/2010 523844 Invicta Meditek RAMACHANDRAN V S 149833 5.37
5/3/2010 501311 Jayabharat Cred M G F SERVICES LIMITED B 96901 8.97
5/3/2010 501311 Jayabharat Cred BAHUBALI SERVICES LTD S 100000 8.97
5/3/2010 530955 Kailash Ficom GOODNESS TRADING PRIVATE LIMITED B 69500 29.10
5/3/2010 530955 Kailash Ficom PRIME DPRIME DYES & CHEMICALS CO.PVT. LTDYES & CHEMICALS CO.PVT. B 107500 29.10
5/3/2010 530955 Kailash Ficom MAXILLA FINANCIAL SERVICES PVT B 82500 29.10
5/3/2010 530955 Kailash Ficom KEJRIWAL FINVEST PVT. LTD. S 100000 29.10
5/3/2010 530955 Kailash Ficom SHENTRACON TREXIM PRIVATE LIMITED S 100000 29.10
5/3/2010 530955 Kailash Ficom MECHNO SALES AGENCIES (P) LTD. S 98236 29.10
5/3/2010 530201 Kallam Spin DHEERAJ LOHIA B 41241 23.00
5/3/2010 530255 KAY Power NAVAL KISHORE GUPTA B 73100 17.72
5/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 319624 17.97
5/3/2010 530255 KAY Power BAMPSL SECURITIES LTD S 232998 16.95
5/3/2010 530255 KAY Power NIRAJ S CHANDRA S 251000 17.95
5/3/2010 530255 KAY Power GIRRAJ PRASAD GUPTA S 57730 17.97
5/3/2010 508306 Ledo Tea PAWAN KUMAR B 10000 63.50
5/3/2010 508306 Ledo Tea ANUJA GAUTAM B 10000 66.50
5/3/2010 508306 Ledo Tea PAWAN KUMAR S 10000 66.50
5/3/2010 508306 Ledo Tea ANUJA GAUTAM S 10000 63.50
5/3/2010 531515 Mahan Inds PRANAV GUPTA S 425000 5.14
5/3/2010 531515 Mahan Inds JAYDEEP MANILAL SHAH S 340000 5.14
5/3/2010 590111 MASTER DEEPAK KUMAR VYAS S 30200 39.86
5/3/2010 590111 MASTER SRIKANTH MIKKILINENI S 29500 39.86
5/3/2010 531996 Odyssey Corp EFORCE INDIA PRIVATE LIMITED S 41900 64.52
5/3/2010 512097 Oregon Comm SONI KRUPA SANJAY B 4897 197.65
5/3/2010 512097 Oregon Comm ASHLESH GUNVANTBHAI SHAH B 8300 191.81
5/3/2010 512097 Oregon Comm PARESH RAMJIBHAI CHAUHAN B 5000 200.79
5/3/2010 512097 Oregon Comm OMPARKASH GUPTA B 10780 199.26
5/3/2010 512097 Oregon Comm UPENDRA SOMCHAND BHATT B 5000 196.00
5/3/2010 512097 Oregon Comm SHYAM CONSTRUCTION B 10256 196.52
5/3/2010 512097 Oregon Comm SHYAM CONSTRUCTION S 10256 200.98
5/3/2010 512097 Oregon Comm OMPARKASH GUPTA S 10780 199.32
5/3/2010 531726 Panchsheel Org NILESH EKNATH BHOIR S 47963 34.01
5/3/2010 531726 Panchsheel Org SHAILESHBHAI CHATURBHAI PATEL S 52305 33.64
5/3/2010 517522 Rajratan Global SURBHI INVESTMENTS & TRADING COMPANY PRIVATE B 50000 169.25
5/3/2010 517522 Rajratan Global MRINALINI TRADING CO PVT LTD S 51000 169.26
5/3/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 335139 35.25
5/3/2010 502587 Rama Pulp OMPARKASH GUPTA B 89450 35.05
5/3/2010 502587 Rama Pulp MAHIPATI W DARMAL MEHTA B 40000 35.35
5/3/2010 502587 Rama Pulp LAKSHMI MEHROTRA B 100000 35.25
5/3/2010 502587 Rama Pulp SELLAID PUBLICATION INDIA LTD S 117720 35.35
5/3/2010 502587 Rama Pulp OMPARKASH GUPTA S 89450 35.07
5/3/2010 502587 Rama Pulp SANDEEP BAKUL SHETH S 40000 35.35
5/3/2010 502587 Rama Pulp SUBHASH PHOOTARMAL RATHOD S 57909 35.27
5/3/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 386967 35.07
5/3/2010 531646 RFL Intl VERBENA MERCANTILE PVT LTD B 335611 8.26
5/3/2010 531646 RFL Intl RENU BALA S 150000 8.26
5/3/2010 531646 RFL Intl S PRAVEEN KUMAR S 126150 8.26
5/3/2010 531952 Riba Textiles SB LIQUOR DISTRIBUTORS PRIVAT S 47382 10.93
5/3/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 38900 86.34
5/3/2010 512359 Rotam Comm PATEL SHAILESH JIVANLAL B 9246 104.00
5/3/2010 531099 Rubra Med AKSHATA ANKUSH AMBOKAR B 30400 18.90
5/3/2010 531099 Rubra Med RAJEEV KUMAR HARDAT B 99600 18.90
5/3/2010 531099 Rubra Med CHEVIOT INTERNATIONAL LTD S 50000 18.90
5/3/2010 531099 Rubra Med PRABHA SURANA S 50000 18.90
5/3/2010 531781 Sapan Chem NILESH KRUSHNA PALANDE S 60000 4.93
5/3/2010 532886 SEL Mfg Company TARUNA GUPTA S 125113 82.94
5/3/2010 532793 Shree Ashtavina TRANS FINANCIAL RESOURCES LIMITED B 1732782 12.87
5/3/2010 532793 Shree Ashtavina PVR IMPEX PRIVATE LIMITED B 1002524 12.85
5/3/2010 532793 Shree Ashtavina VIJAY CHIMANLAL THAKKAR B 1238456 12.62
5/3/2010 532793 Shree Ashtavina VIJAY CHIMANLAL THAKKAR S 830919 12.92
5/3/2010 532793 Shree Ashtavina AVR OVERSEAS PVT LTD S 1002524 12.90
5/3/2010 532793 Shree Ashtavina TRANS FINANCIAL RESOURCES LIMITED S 1732782 12.59
5/3/2010 526479 SKY Inds MORADA DEEPAK B 24000 86.65
5/3/2010 512153 Specular Mktg ASHAY SHREYAS MEHTA B 4000 6.72
5/3/2010 512153 Specular Mktg ARECH MARKFIN PVT LTD S 4000 6.72
5/3/2010 526827 Spice Islands GIRISH GULATI B 24155 24.55
5/3/2010 526827 Spice Islands DHEERAJ LOHIA B 27387 23.13
5/3/2010 526827 Spice Islands SNEHALATHA SINGHI S 25000 23.00
5/3/2010 532887 Sujana Towers KANCHAN CHHABRA B 501225 57.39
5/3/2010 532887 Sujana Towers KANCHAN CHHABRA S 786635 57.32
5/3/2010 512449 SVC RES LATHIYA SALES PRIVATE LIMITED S 136435 183.90
5/3/2010 512257 Swasti Vinay Gem SURENDRA KUMAR KULHARI B 300000 6.14
5/3/2010 512257 Swasti Vinay Gem ACHALA ELECTRICALS PRIVATE LIMITED S 345811 6.23
5/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED B 100372 111.68
5/3/2010 533157 SYNCOM HEAL SUBHKARAN TILOKCHAND AGARWAL B 100000 110.64
5/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. B 213339 112.01
5/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. S 213339 112.09
5/3/2010 533157 SYNCOM HEAL R M SHARES TRADING PRIVATE LIMITED S 100372 111.80
5/3/2010 500570 Tata Motors TATA SONS LIMITED B 3690000 811.65
5/3/2010 500570 Tata Motors TATA STEEL LIMITED S 3690000 811.65
5/3/2010 531547 Tirupati Inds DEVANSH CORPORATION B 36100 7.95
5/3/2010 531547 Tirupati Inds PYRAMID FINANCE S 36100 7.95
5/3/2010 532765 Usher Agro ASHOK KUMAR MUNSHI S 134641 49.03
5/3/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 31370 463.21
5/3/2010 531249 Well Pack Papers SUNIL BHANDARI B 32000 463.09
5/3/2010 532116 XO Infotech PARVATI MINERALS PRIVATE LTD S 200000 4.10
5/3/2010 532116 XO Infotech SHREEJI BROKING (P) LTD S 203500 4.10
5/3/2010 531404 Zicom Elect WALLFORT FINANCIAL SERVICES LTD B 75226 128.27
5/3/2010 531404 Zicom Elect BLUE PEACOCK SECURITIES PRIVATE LIMITED B 69761 131.69
5/3/2010 531404 Zicom Elect OPG SECURITIES P LTD B 76478 128.77
5/3/2010 531404 Zicom Elect SANJEEV SINGHAL B 74127 130.50
5/3/2010 531404 Zicom Elect MANSUKH SECURITIES & FINANCE LTD B 102993 129.09
5/3/2010 531404 Zicom Elect TRANSGLOBAL SECURITIES LTD. B 88029 128.64
5/3/2010 531404 Zicom Elect TRANSGLOBAL SECURITIES LTD. S 87327 128.81
5/3/2010 531404 Zicom Elect OPG SECURITIES P LTD S 76478 129.07
5/3/2010 531404 Zicom Elect MANSUKH SECURITIES & FINANCE LTD S 102993 129.07
5/3/2010 531404 Zicom Elect SANJEEV SINGHAL S 74127 130.77
5/3/2010 531404 Zicom Elect BLUE PEACOCK SECURITIES PRIVATE LIMITED S 69761 128.80
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 5 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
05-MAR-2010,AMTEKAUTO,AmtekAuto-Roll Sett,MACQUARIE BANK LIMITED,BUY,1832503,172.00,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,88605,807.61,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,ALIVE CONSULTANTS ALIVE,BUY,108558,803.97,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,BP FINTRADE PRIVATE LIMITED,BUY,124226,811.78,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,BUY,219248,810.88,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,111774,806.37,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,314756,804.81,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,JMP SECURITIES PVT LTD,BUY,91299,806.96,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,287064,807.89,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,168761,806.38,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,91630,802.63,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,PRB SECURITIES PRIVATE LTD.,BUY,74881,802.87,-
05-MAR-2010,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,91357,54.18,-
05-MAR-2010,DIGJAM,Digjam Limited,HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,890960,12.73,-
05-MAR-2010,DIGJAM,Digjam Limited,INVENTURE GROWTH & SECURITIES LIMITED,BUY,614060,12.76,-
05-MAR-2010,DIGJAM,Digjam Limited,NARESH KESHAVLAL RAVAL,BUY,300000,12.40,-
05-MAR-2010,DIGJAM,Digjam Limited,RICH APPARELS/ (PRO)MANOJ MEHTA,BUY,2719484,12.84,-
05-MAR-2010,DIGJAM,Digjam Limited,SUMAN,BUY,842656,12.84,-
05-MAR-2010,JKTYRE,JK Tyre & Industries Ltd,SHRADDHA NILESH MEHTA,BUY,204126,198.59,-
05-MAR-2010,LLOYDELENG,Lloyd Electric & Engg Ltd,JP MORGAN FUNDS,BUY,560766,59.90,-
05-MAR-2010,SUJANATOW,Sujana Tower Limited,KANCHAN CHHABRA,BUY,797257,58.11,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,AAKRUTI TEXTILES ( PROP - SUBHKARAN TILOKCHAND AGARWAL),BUY,100000,110.59,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,99143,112.42,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,47035,111.16,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,BUY,140839,111.76,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,212014,112.08,-
05-MAR-2010,TRICOM,Tricom India Limited,TRANSGLOBAL SECURITIES LTD.,BUY,350281,18.55,-
05-MAR-2010,ZICOM,Zicom Electronic Security,BLUE PEACOCK SECURITIES PRIVATE LIMITED,BUY,92905,131.33,-
05-MAR-2010,ZICOM,Zicom Electronic Security,MANSUKH SECURITIES & FINANCE LIMITED,BUY,129524,128.60,-
05-MAR-2010,ZICOM,Zicom Electronic Security,MARWADI SHARES AND FINANCE LIMITED,BUY,75417,128.89,-
05-MAR-2010,ZICOM,Zicom Electronic Security,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,71719,130.48,-
05-MAR-2010,ZICOM,Zicom Electronic Security,PRAGYA EQUITIES PVT. LTD.,BUY,66255,126.89,-
05-MAR-2010,ZICOM,Zicom Electronic Security,R S SINDHU,BUY,77688,129.32,-
05-MAR-2010,ZICOM,Zicom Electronic Security,TRANSGLOBAL SECURITIES LTD.,BUY,100408,128.45,-
05-MAR-2010,ZICOM,Zicom Electronic Security,WALLFORT FINANCIAL SERVICES LTD,BUY,125000,127.73,-
05-MAR-2010,AMTEKAUTO,AmtekAuto-Roll Sett,CITIGROUP GLOBAL MKTS MAURITIUS PVT LTD- SELL CODE,SELL,1832503,172.00,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,88605,807.38,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,ALIVE CONSULTANTS ALIVE,SELL,108558,804.89,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,BP FINTRADE PRIVATE LIMITED,SELL,124978,813.39,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,C D INTEGRATED SERVICES LTD.,SELL,220748,811.14,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,111774,808.05,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,314756,805.42,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,JMP SECURITIES PVT LTD,SELL,144389,803.14,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,287064,808.39,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,168726,807.22,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,96238,801.42,-
05-MAR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,PRB SECURITIES PRIVATE LTD.,SELL,74881,803.19,-
05-MAR-2010,ASIANELEC,Asian Electronics Ltd,SHAH INVESTMENTS FINANCIAL DEV & CON PRIVATE LIMIT,SELL,203667,33.15,-
05-MAR-2010,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,91357,54.32,-
05-MAR-2010,BHARTISHIP,Bharati Shipyard Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAP,SELL,251239,279.50,-
05-MAR-2010,DIGJAM,Digjam Limited,ARCIL BIRLA VXL LIMITED TRUST,SELL,1800000,12.50,-
05-MAR-2010,DIGJAM,Digjam Limited,HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,890960,12.72,-
05-MAR-2010,DIGJAM,Digjam Limited,INVENTURE GROWTH & SECURITIES LIMITED,SELL,577887,12.82,-
05-MAR-2010,DIGJAM,Digjam Limited,NARESH KESHAVLAL RAVAL,SELL,400000,13.09,-
05-MAR-2010,DIGJAM,Digjam Limited,RICH APPARELS/ (PRO)MANOJ MEHTA,SELL,2655131,12.71,-
05-MAR-2010,DIGJAM,Digjam Limited,SUMAN,SELL,842656,12.73,-
05-MAR-2010,GOKUL,Gokul Refoils and Solvent,CHHATISGARH INVESTMENTS LTD,SELL,1550000,57.49,-
05-MAR-2010,IFL,India Foils Limited,ESS DEE ALUMINIUM LTD,SELL,177430,8.35,-
05-MAR-2010,JKTYRE,JK Tyre & Industries Ltd,SHRADDHA NILESH MEHTA,SELL,232351,197.74,-
05-MAR-2010,LLOYDELENG,Lloyd Electric & Engg Ltd,JPMORGAN INDIAN INVESTMENT TRUST PLC,SELL,560766,59.90,-
05-MAR-2010,SELMCL,SEL Manufacturing Company,TARUNA GUPTA,SELL,187600,82.92,-
05-MAR-2010,SUJANATOW,Sujana Tower Limited,KANCHAN CHHABRA,SELL,811059,57.37,-
05-MAR-2010,SURANAIND,Surana Industries Limited,KAMOD DEVI BACHHAWAT,SELL,117000,262.61,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,99143,112.37,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,108549,112.25,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R.M. SHARE TRADING PVT LTD,SELL,140839,111.79,-
05-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,214024,112.10,-
05-MAR-2010,TRICOM,Tricom India Limited,TRANSGLOBAL SECURITIES LTD.,SELL,356708,18.50,-
05-MAR-2010,ZICOM,Zicom Electronic Security,BLUE PEACOCK SECURITIES PRIVATE LIMITED,SELL,92905,129.18,-
05-MAR-2010,ZICOM,Zicom Electronic Security,KANODIA STOCK BROKING,SELL,85233,125.45,-
05-MAR-2010,ZICOM,Zicom Electronic Security,MANSUKH SECURITIES & FINANCE LIMITED,SELL,129524,128.87,-
05-MAR-2010,ZICOM,Zicom Electronic Security,MARWADI SHARES AND FINANCE LIMITED,SELL,75417,129.17,-
05-MAR-2010,ZICOM,Zicom Electronic Security,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,69015,130.38,-
05-MAR-2010,ZICOM,Zicom Electronic Security,PRAGYA EQUITIES PVT. LTD.,SELL,66255,127.26,-
05-MAR-2010,ZICOM,Zicom Electronic Security,R S SINDHU,SELL,77688,129.42,-
05-MAR-2010,ZICOM,Zicom Electronic Security,TRANSGLOBAL SECURITIES LTD.,SELL,100408,128.46,-
05-MAR-2010,ZICOM,Zicom Electronic Security,WALLFORT FINANCIAL SERVICES LTD,SELL,50000,129.71,-
Latest Grey Market Premiums - March 5 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| NTPC (FPO) | 201 | 1 to 2 |
| Texmo Pipes | 90 | 14 to 15 |
| Man Infraconst. | 243 to 252 | 55 to 58 |
| REC (FPO) | 203 | 38 to 40 |
| United Bank of | 60 to 66 | 8 to 8.50 |
| DQ Entertainment (Inter.) | 75 to 80 | 7 to 9 |
| NMDC | | |
| Pradip Overseas | | |
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