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Thursday, March 11, 2010
Market awaits IIP, Sensex holds 17000
Today's major news
Manappuram hits 52-week high on bonus and stock split plan; the stock rises 6.44%
GVK Power bags 690MW hydel project in Jammu and Kashmir; the stock ends 0.11% lower
India Cements to raise Rs295.6 crore via qualified institutional placement; the stock closes 0.46% higher
Reliance Industries leases ultra-deepwater drillship for exploration; the stock finishes 0.84% up
Tata Consultancy Services and government of Maharashtra form a joint venture; the stock surges 1.31%
Post-market summary
Global signals
European shares were trading either in red or green in early trades on Thursday, March 11, 2010 as gains in utilities and automobiles overshadowed the fall in banks and commodity stocks. At the time of writing this report, FTSE 100 was trading 0.15% lower.
All the major Asian indices closed in green except Kospi Index that closed 0.34% lower. SGX Nifty closed 25 points higher.
US stock futures opened lower indicating a weak start for the Wall Street.
Indian indices
The markets had a dull outing bar some bouts of active trading especially towards the fag end. On sanguine global leads the Sensex opened 20 points firmer at 17087. But investors stayed away from the market ahead of the index of industrial production (IIP) readings tomorrow (Friday, March 12, 2010). The index traded within a tight band of around 128 points. Some buying in information technology (IT), TECk, consumer durables and banking counters lifted the market to touch the day’s high of 17215, mere 117 points higher than its yesterday’s close. The day’s low was measly 11 points lower than its previous closing. At finishing line, the Sensex shut shop at 17167, 69 points higher, while the Nifty closed 17 points higher at 5133.
Market sentiment
Declining scrips outnumbered advancing scrips with the advance/decline ratio at 0.90. Of the total 2,918 stocks traded on the BSE, 1,065 stocks advanced, whereas 1,774 stocks declined. Seventy nine stocks remained unchanged.
Sectoral & stock screening
IIP numbers due tomorrow kept investors at sidelines. The 13 sectoral indices on the BSE had a perfect split—six sectors advanced, six declined, where as one remained unchanged. BSE IT and BSE TECk gained the most—1.00% and 0.93% up. Auto and fast moving consumer goods (FMCG) were down the most—0.95% and 0.79% respectively.
Talking of Sensex scrips, Sun Pharmaceuticals surged the most by 2.97%, followed by Sterlite Industries that rose by 2.12% and Bharti Airtel that was up by 1.98%. Among losers, the most hit was Hundustan Unilever that was down 4.21%, followed by Hindalco Industries that was 1.72% lower and Reliance Communications that was down 1.17%.
Viewing volumes
Suzlon Energy India, the wind turbine maker, was the most actively traded share with over 60 lakh shares changing hands on the BSE, followed by the India’s second largest realty company Unitech (57 lakh shares), industrial finance company IFCI (37 lakh shares), sugar manufacturer Balrampur Chini Mills (34 lakh shares) and Shree Renuka Sugars (31 lakh shares).
Nifty March 2010 futures at premium
Turnover rises
Nifty March 2010 futures were at 5,159.80, at a premium of 26.40 points over spot closing of 5,133.40. Turnover in NSE's futures & options (F&O) segment increased to Rs 66,223.11 crore from Rs 65,513.54 crore on Wednesday, 10 March 2010.
Reliance Industries March 2010 futures were at premium at 1023.50 compared to the spot closing of 1019.
Shree Renuka Sugars March 2010 futures were at a slight premium at 164.25 compared to the spot closing of 163.75.
Tata Steel March 2010 futures were at discount at 610.50 compared to the spot closing of 611.50.
In the cash market, the S&P CNX Nifty rose 17.15 points or 0.34% at 5,133.40.
Asian stocks extend listless week
Chinese inflation figures keep the overall sentiments subdued
Asian stocks were mostly mixed today, extending a listless sort of week as traders continue to ask questions on monetary policy in China and Greece Sovereign scenario. China's consumer price index rose a faster-than-expected 2.7% in February from the year earlier period, intensifying from January's 1.5% rise. The rise in CPI and a sharp 20.7% jump in January-February industrial output triggered worry about further credit tightening in the world's fastest growing economy.
Chinese markets pared their initial advances after these data pointers and the Shanghai Composite closed up 0.1%, while the Shenzhen Composite index slid 0.1%. The stock market in Japan ended in positive territory on Thursday, lifted by weaker yen and optimism that the Bank of Japan, in its meeting next week, will announce additional measures to ease monetary policy and fight deflation. The benchmark Nikkei 225 Index gained 0.96% while the broader Topix index was up 0.86%.
In Japan, the final report on Q4 GDP released by the Cabinet Office revealed that the country's gross domestic product rose 0.9% in the fourth quarter, slightly less than the 1% growth expected by economists and 1.1% growth reported in the preliminary report released last month. The report further noted that annualized GDP came in at 3.8%, missing economists' mean expectation of 4% growth and also sharply lower than the annualized 4.6% growth reported in the preliminary report.
The Indian stocks ended slightly higher on Thursday after an early setback as late buying following a gain in the U.S index futures helped. IT stocks outperformed on improving business outlook. Bellwether Infosys rose 0.92%, rival TCS advanced 1.31% and Wipro gained 1.73%. After trading in a lackluster manner for most of the day, the 30-share Sensex added over 100 points in late trading before paring some gains and finishing at 17,168, up 70 points or 0.41%, while the 50-share Nifty ended up 17 points or 0.34% at 5,133.
In other markets, Hong Kong's Hang Seng Index inched up 0.1%, Taiwan's Taiex lost 0.4%, South Korea's Kospi shed 0.3% and Australia's S&P/ASX 200 slipped 0.1%.
In the U.S., stocks moved higher on Wednesday. The major averages all closed in positive territory, with the tech-heavy Nasdaq posting a sizable gain. The Dow gained 2.95 points or less than a tenth of a percent to close at 10,567, while the Nasdaq advanced by 18.27 points or 0.8% to 2,349 and the S&P 500 rose by 5.17 points or 0.5% to 1,146.
However, the US index futures have not been able to hold in green for a longer period today and currently languish in red. The DOW Jones is expected to open lower by 6 points as per the latest futures data. Light sweet crude oil futures for April delivery trade at $82.28 a barrel in electronic trading, up 19 cents per barrel from previous close.
ILFS Transportation Networks IPO Analysis
IL&FS Transportation Networks (ITNL), promoted by IL&FS (Infrastructure Leasing & Financial Services), is an established surface transportation infrastructure developer providing end-to-end solutions for BOT (build, operate and transfer) road projects.
The company, incorporated in 2000 to consolidate the existing road infrastructure projects of IL&FS and pursue various new project initiatives in the area of surface transportation infrastructure, currently has a total road portfolio of 9,397-lane km of BOT roads under development and management. Of which, about 35% is annuity projects and balance 65% are toll projects. Of the total road project portfolio, operational projects were eight with an aggregate distance of 4,081 lane km, and the projects under development number about 11 (including one overseas project in Spain), with an aggregate length of 5,316 lane km. In addition to the road sector projects, it is also developing the Gurgaon Metro Link Rail Project. Similarly, it operates the Nagpur City Bus Transportation Service on BOO basis. Moreover, the company is believed to be the preferred bidder for two projects, with an aggregate distance of 2,100-lane km.
All the BOT projects are implemented through special purpose vehicles (SUVs), and the company has controlling interest in a number of SPVs. Noida Toll bridge is the first BOT project of the company. It holds a 25.35% stake.
The company acquired a 100% stake in Spain-based Elsamex SA, which provides maintenance services primarily for highways and roads in Spain and other countries, in March 2008. Apart from o
operations and maintenance (O&M) of roads, Elsamex also offers O&M service for petrol stations and buildings. Elsamex has over 21,000-lane km of roads and over 3,100 petrol stations under maintenance worldwide. ITNL plans to diversify its operations into urban infrastructure, railways, and airports.
ITNL's major source of revenue are fees received on account of rendering 1) project development services; 2) advisory and project management services; 3) construction supervision services; 4) operation and maintenance service; 5) tolling; and 6) dividend and interest income on investments. O&M income, construction contract revenue, toll revenue and finance income accounted for about 63.2%, 13.3%, 6.9% and 6.2%, respectively, of the FY 2009 consolidated income of the company, excluding other income. However, the share of construction contract revenue has increased to 42.9% for the half-year ended September 2009, with that of O&M declining to 39.8%. Toll revenue and finance income stood at 7.2% and 4% for the same period.
The O&M revenue largely consists of income from 1) Elsamex's maintenance activities [beginning FY 2009]; and 2) operation and maintenance startup fees the company generate in India as well as recurring O&M fees to upkeep the road assets in India. The finance income consists of revenue from financial assets (roads or bridges for which ITNL entered into an annuity contract). The majority of the annuity received for these roads or bridges is not recognized as revenue but instead used to offset the cost of the original assets, which was capitalized.
Further, the company has also entered into a memorandum of understanding with Belbadi and Ascon Road Construction L.L.C (Ascon) to bid for new projects in the Gulf Cooperation Council Region and for setting up a contracting and project development strategic partnership to undertake major infrastructure, real estate development, and construction and maintenance projects. IL&FS has also entered into a memorandum of understanding with the AAI pursuant to which IL&FS has agreed to cooperate, identify, develop, implement, operate and maintain airports and associated projects outside India, and it intends to leverage IL&FS's arrangement with the AAI (Airport Authority of India) for identifying, securing and developing airport projects outside India. The company also entered into a memorandum of understanding with Middle East Coal Pte, Singapore, for financing, developing and implementing coal evacuation infrastructure facilities in Muara Wahau, Indonesia. The company intends to utilize Elsamex to bid for OMT (operate, maintain and transfer) projects outside India in the countries in which Elsamex operates.
Though the company is not get anything from the offer for sale (by Trinity Capital), at the offer price band of Rs 242-258, the fresh issue will result in proceeds of Rs 589.61 crore to Rs 596.45 crore. These funds will be used primarily for funding pre-payment and repayment of portion of the Rs 500-crore debt and balance for general corporate purposes.
Strengths
Parent IL&FS has reputation in infrastructure development, with advisory relationship with various agencies/arms of governments, both Central and state, implementing infrastructure projects. This differentiates ITNL from other infra developers who transformed themselves from being construction companies to project developers. On strong parent, the company is well positioned to generate value in the pre-construction phase, with its advisory role. IL&FS also brings in strong management team with vast experience in infrastructure development and financing of infra projects.
Has strong execution capability, with a track record of operational projects.
The government of India is strongly committed to road sector development, with construction of 20 km of road a day, expressways etc. This is all set to bring enormous opportunities for road sector developers.
Weakness
Though the GoI is committed to highway construction of 20 km a day, the last couple of years, especially 2008 and 2009, has not seen major finalization of orders from NHAI (National Highways Authority of India), the nodal agency for highway development in the country at the national level.
Though the company, off late, took up design, engineering and project management for SPVs, it still outsources civil works unlike its competitors, who are integrated players. Thus, it is unable to capture the complete value chain.
IL&FS and certain other group companies have equity interests or other investments in other companies that offer services that are similar to the business of ITNL, such as Maytas Infrastructure, Chhattisgarh Highway Development Company, Jharkhand Accelerated Road Development Company, MP Toll Roads, Road Infrastructure Development Company of Rajasthan and IL&FS Nepal Infrastructure Development Company Private. This may result in conflict of interest in addressing business opportunities and strategies in circumstances where ITNL's interests differ from other companies in which IL&FS or group companies have an interest. Additionally, as per the model concession agreement, an applicant will be considered to have conflict of interest and will be disqualified if such applicant and any other applicant have common shareholders or other ownership interest direct or indirect of more than 25% of the paid-up and subscribed capital. As neither IL&FS nor any group company has undertaken to refrain from competing with ITNL's business, future bidding of the company may be affected in such conflict of interest cases.
As on September 30, 2009, approximately about 40% of the loans were repayable with a period of the next 12 months. The total indebtedness of the company as on September 30, 2009, was Rs 2417.13 crore. Moreover, about 21.40% of the total debt availed by ITNL as on January 21, 2010, is repayable on demand, with the unsecured debt from promoter/ group companies such as IL&FS, IL&FS Securities Services and IL&FS Financial Services aggregating to Rs 340 crore.
The company's plans of integration of Elsamex with the company might (i) take longer than expected; or (ii) cost more than expected. Any failure to effectively implement the Elsamex integration strategy would have an adverse bearing on the financials of the ITNL.
Promoter of the company, i.e. IL&FS, has been involved in SEBI proceedings. SEBI had restrained IL&FS depositary participant from opening fresh demat accounts in relation to the investigations relating to IPO scam. However, the show cause notice of the enquiry officer was disposed of, accepting the response of IL&FS.
Though GOI is committed and removed some irritants relating to concession agreement and RFQ/RFP (Request for Qualification/ Request for Proposal), land acquisition remains a roadblock, affecting the timely completion of projects. Moreover, some external factors not in the control of the developers such as insufficient/quality traffic assessment could affect the successful implementation and viability of the project.
Valuation
The financials of FY 2008 and FY 2009 are not comparable on acquisition of Elsamex SA in March 2008. The revenue for FY 2009 was up by 246% to Rs 1252.59 crore. However, the net profit (after minority interest) was lower by 70% to Rs 27.88 crore, with OPM crashing to 17.6% in FY 2009 compared to 50.6% in FY 2008 on account of thin margin business of Elsamex. But the revenue for the half-year ended September 2009 was at Rs 958.34 crore. With OPM improving to 35.2% on the back of change in revenue mix in favour of construction services business, net profit stood at Rs 118.23 crore. On post-issue equity (based on price band of Rs 242-258), the annualized EPS works out to Rs 12.2 -12.3. This is discounted 19.8 times at the lower price band and 21 times at the upper price band. In comparison, IRB Infrastructure quotes at a PE of 26.3 times its nine months ended December 2009 annualized consolidated EPS.
Sensex ends up 69.63 pts; Sun Pharma, Sterlite gain
Indian markets continued to rise for the second day on Thursday. The Sensex ended in the positive terrain led by Sun Pharmaceutical Industries, Sterlite Industries and Bharti Airtel. IT, teck, banking and consumer durable stocks marginally gained, while auto, FMCG, PSU and metal declined. It traded in a lacluster manner as the market was directionless. It opened flat with negative bias and continued to trade flat amid volatility. In the second half, the index extended gains on the back of buying interest seen in frontliners to finally close in green after touching a high of 17,215.07 and low of 17,054.28. On the other hand Nifty sutained the 5,100 mark. Both Sensex and Nifty traded above 1-month high.
Meanwhile, food inflation dropped to 17.81% towards the end of February, but fuel inflation shot up due to a hike in excise and customs duty in the Budget. Food inflation declined by 0.06% points during the week ended February 27 from 17.87% in the previous week.
On global front, European stocks were trading flat on Thursday. UK`s benchmark index FTSE 100 decreased 5.49 points, or 0.10%, to trade at 5,635.08. Whereas, Asian stocks rose, sending the MSCI Asia Pacific Index toward a seven-week high, as speculation Japan`s economy is recovering outweighed concern China will pare back measures that spurred growth.
At the close, the benchmark 30-share index, BSE Sensex gained 69.63 or 0.41% at 17,167.96 with 15 components registering rise. Meanwhile, the broad based NSE Nifty went up by 17.15 or 0.34% at 5,133.40 with 23 components posting rise.
Sensex Movers
ICICI Bank contributed rise of 20.17 points in the Sensex. It was followed by Reliance Industries (18.36 points), Infosys Technologies (15.81 points), Bharti Airtel (10.19 points) and Sterlite Industries (India) (8.61 points).
However, Hindustan Unilever contributed fall of 14.52 points in the Sensex. It was followed by Hindalco Industries (5.08 points), Tata Motors (2.95 points), Tata Power Company (2.93 points) and Oil & Natural Gas Corporation (2.92 points).
Major gainers in the 30-share index were Sun Pharmaceutical Industries (2.97%), Sterlite Industries (India) (2.12%), Bharti Airtel (1.98%), Wipro (1.73%), ICICI Bank (1.48%), and Tata Consultancy Services (1.31%).
On the other hand, Hindustan Unilever (4.21%), Hindalco Industries (1.72%), Reliance Communications (1.17%), ACC (1.08%), Tata Power Company (0.99%), and Hero Honda Motors (0.98%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 6716.1 down by 9.83 points or by 0.15%. The major losers were Aban Offshore (2.49%), Amtek Auto (2.17%), Allcargo Global Logistics (2.14%), Alfa-Laval (India) (0.77%) and Reliance MediaWorks (0.38%).
The BSE Smallcap index was at 8470.34 down by 42.23 points or by 0.5%.
The major losers were Abhishek Industries (2.77%), Provogue (India) (1.63%), Advanta India (1.35%), Ador Welding (1.23%) and Action Construction Equipment (1.11%).
Sectors in Limelight
The IT index was at 5,343.52, up by 52.81 points or by 1.00%. The major gainers were Patni Computer Systems (1.96%), Infosys Technologies (0.92%), Oracle Financial Services Software (0.87%), H C L Technologies (0.6%) and Tech Mahindra (0.32%).
The TECk index was at 3,294.60, up by 30.49 points or by 0.93%. The major gainers were Bharti Airtel (1.98%), Deccan Chronicle Holdings (0.92%), Oracle Financial Services Software (0.87%), H C L Technologies (0.6%) and G T L (0.07%).
The Bankex index was at 10,348.67, up by 71.28 points or by 0.69%. The major gainers were Bank Of Baroda(2.15%), I C I C I Bank (1.48%), Allahabad Bank (0.99%), H D F C Bank (0.72%) and Bank Of India (0.31%).
On the other hand, the Auto index was at 7,571.07, down by 72.97 points or by 0.95%. The major losers were Amtek Auto (2.17%), Escorts (1.91%), Bharat Forge (1.74%), Ashok Leyland (1.52%) and Bajaj Auto (1.14%).
Market Breadth
Market breadth was negative with 1,070 advances against 1,799 declines.
Value and Volume Toppers
Man Infraconstruction topped the value chart on the BSE with a turnover of Rs. 5,749.12 million. It was followed by Texmo Pipes and Products (Rs. 2,995.37 million), ICICI Bank (Rs. 643.29 million) and State Bank Of India (Rs. 636.20 million).
The volume chart was led by Cals Refineries with trades of over 23.99 million shares. It was followed by Texmo Pipes and Products (20.38 million), Man Infraconstruction (16.51 million) and Shree Ashtavinayak Cine Vision (6.17 million).
BSE Bulk Deals to Watch - March 11 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
11/3/2010 517356 ACI Infocom GOPANI METAL INDUSTRIES PVT. LTD. S 80000 19.42
11/3/2010 511706 Action Fin Vishek Nisar B 75000 20.50
11/3/2010 511706 Action Fin Rohan Nisar B 75000 20.50
11/3/2010 511706 Action Fin ESHA SECURITIES LTD B 45000 20.25
11/3/2010 511706 Action Fin ULTRA CARE SECURITIES PVT.LTD. S 50000 20.50
11/3/2010 511706 Action Fin ESHA SECURITIES LTD S 258000 20.14
11/3/2010 511706 Action Fin BEENAKEDIA S 45000 20.25
11/3/2010 519183 ADF Foods RELIANCE CAPITAL ASSET MANAGMENT LIMITED AC PMS B 478645 85.00
11/3/2010 519183 ADF Foods BHAVESH RAMESH THAKKAR S 300000 85.02
11/3/2010 519183 ADF Foods BIMAL RAMESH THAKKAR S 200000 85.00
11/3/2010 532759 Atlanta PRIMORE SOLUTIONS PVT.LTD B 90394 210.03
11/3/2010 532759 Atlanta PRIMORE SOLUTIONS PVT.LTD S 114394 210.06
11/3/2010 512109 Aviva Inds AMRATLAL KASHIRAM PATEL B 13000 25.35
11/3/2010 512109 Aviva Inds KISHORE CHINUBHAI SHAH B 12500 25.05
11/3/2010 512109 Aviva Inds RAMESH CHANDRA SURAJ M B 13001 27.25
11/3/2010 512109 Aviva Inds KANAKBHAIBAKULCHANDRASHAH B 12500 25.05
11/3/2010 512109 Aviva Inds DINESH KUMARAR JUNBHAI JADAV S 25501 25.05
11/3/2010 512109 Aviva Inds AMRATLAL KASHIRAM PATEL S 13000 27.25
11/3/2010 512109 Aviva Inds RAMESH CHANDRA SURAJ M S 13001 25.35
11/3/2010 532989 Bafna Pharma SASIKALA BAFNA S 100000 30.00
11/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 514779 1.28
11/3/2010 531591 Bampsl Sec SUNDERDASSAGARWAL B 575000 1.34
11/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA S 897000 1.34
11/3/2010 505923 Ceekay Daikin HIMANI KATIMBADIA S 25000 166.84
11/3/2010 531337 Channel Guide RINKU VIVEK GADIA B 30000 15.15
11/3/2010 521151 Dhanlaxmi Fab JIGNESH FABRICS PRIVATE LIMITED S 89882 20.45
11/3/2010 500132 Empee Sugars HIREN KIRIT GANDHI S 310000 26.46
11/3/2010 511668 Fact Enterprise SARWESH DUBEY B 40000 31.25
11/3/2010 511668 Fact Enterprise SARITA DUBEY B 35000 31.25
11/3/2010 511668 Fact Enterprise SUVIDHA SECURITIES PVT LTD S 147550 31.33
11/3/2010 532996 First Winner KIRTI KUMAR KANTILAL SHAH B 90000 24.00
11/3/2010 513579 Foundry Fuel KUM CONSTRUCTION AND FINANCE P LTD S 42726 9.44
11/3/2010 532345 Gati BANG SECURITIES PVT LTD B 400000 55.90
11/3/2010 532345 Gati MINDSET TECHNOLOGIES PRIVATE LIMITED S 400000 55.90
11/3/2010 531904 Globus Corp SANJAYMADHUKAR AHIRE B 532996 1.55
11/3/2010 531904 Globus Corp MANOJ JAIN HUF S 600000 1.56
11/3/2010 526717 Gopala Poly DIPAK K SHAH S 150000 2.80
11/3/2010 512604 Haria Exports DHARAMPAL SATYAPAL LIMITED B 30000 4.30
11/3/2010 512604 Haria Exports S.R. CREDITS PVT LTD S 30000 4.29
11/3/2010 509635 Hindustan Compo FIDELITY MULTITRADE PVT. LTD. B 50000 479.95
11/3/2010 509635 Hindustan Compo PRASHANTPATEL B 100000 480.00
11/3/2010 509635 Hindustan Compo MINAL BHARAT PATEL S 149950 480.00
11/3/2010 511682 IFL Promoters SHAM SUNDER GUPTA B 20000 9.95
11/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL B 20000 8.93
11/3/2010 511682 IFL Promoters SHAM SUNDER GUPTA S 20000 8.93
11/3/2010 511682 IFL Promoters SHIVCHARAN DASSMITTAL S 20000 9.95
11/3/2010 530259 Inter State Oil DHEERAJ KUMAR LOHIA B 29579 5.89
11/3/2010 523844 Invicta Meditek CHELLIAH JEYASEELA PANDIAN B 28500 7.00
11/3/2010 523844 Invicta Meditek LAKSHIMI NARAYANA S B 27000 6.92
11/3/2010 523844 Invicta Meditek DURAI VENKATESAN B 29500 7.00
11/3/2010 523844 Invicta Meditek NARESHCHANDJAIN S 28519 6.40
11/3/2010 523844 Invicta Meditek ANILGANPATLALJAIN S 77899 7.00
11/3/2010 507796 Jhaveri Flexo SUDARSHAN SECURITIES PVT. LTD. S 230375 37.00
11/3/2010 531784 Kadamb Constr ANOOP JAIN B 100000 46.33
11/3/2010 531784 Kadamb Constr UDAILAL NARMAL JAIN B 70000 51.50
11/3/2010 531784 Kadamb Constr NEWGEN INTERNATIONAL PRIVATE LIMITED S 188500 46.27
11/3/2010 531784 Kadamb Constr SANGITA KALPESH CHAWALLA S 125160 51.51
11/3/2010 530955 Kailash Ficom SCOPE VYAPAR PRIVATE LIMITED B 84500 24.47
11/3/2010 530955 Kailash Ficom VIJAYPATH TRADECOM PRIVATE LIMITED B 154000 24.76
11/3/2010 530955 Kailash Ficom NILESH KRUSHNA PALANDE B 106200 24.05
11/3/2010 530955 Kailash Ficom ABHIJAI INVESTMENT B 210000 23.80
11/3/2010 530955 Kailash Ficom SOMYA TRADERS PVT LTD S 107200 23.80
11/3/2010 523810 Kaleidoscope Films PRAFULLATA NARESHCHANDRA KAWALE S 311000 6.50
11/3/2010 530255 KAY Power KAUSHALYA GARG B 75200 16.79
11/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 239710 16.35
11/3/2010 530255 KAY Power KAUSHALYA GARG S 100000 16.25
11/3/2010 530255 KAY Power SUNDERDASSAGARWAL S 68759 16.20
11/3/2010 530255 KAY Power ANJUGUPTA S 80850 16.20
11/3/2010 530255 KAY Power GIRRAJPRASADGUPTA S 142216 16.23
11/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI S 49732 84.62
11/3/2010 533169 MAN INFRA GENUINE STOCK BROKERS PVT. LTD. B 752133 360.38
11/3/2010 533169 MAN INFRA SMART EQUITY BROKERS PRIVATE LIMITED B 880413 360.89
11/3/2010 533169 MAN INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD B 250797 358.45
11/3/2010 533169 MAN INFRA MARWADI SHARES AND FINANCE LTD. B 261139 358.14
11/3/2010 533169 MAN INFRA SANJEEV SINGHAL B 508161 360.49
11/3/2010 533169 MAN INFRA OPG SECURITIES P LTD B 647493 360.84
11/3/2010 533169 MAN INFRA GALA BRUSH LIMITED B 250000 370.07
11/3/2010 533169 MAN INFRA GENUINE STOCK BROKERS PVT. LTD. S 752133 360.58
11/3/2010 533169 MAN INFRA SMART EQUITY BROKERS PRIVATE LIMITED S 880413 361.30
11/3/2010 533169 MAN INFRA CHANDARANA INTERMIDIARY BROKERS PVT LTD S 250797 358.49
11/3/2010 533169 MAN INFRA MARWADI SHARES AND FINANCE LTD. S 261139 358.95
11/3/2010 533169 MAN INFRA SANJEEV SINGHAL S 508161 360.82
11/3/2010 533169 MAN INFRA OPG SECURITIES P LTD S 647493 361.27
11/3/2010 533169 MAN INFRA GALA BRUSH LIMITED S 250000 350.50
11/3/2010 590111 MASTER N R AGENCIES PRIVATE LIMITED B 29400 38.01
11/3/2010 590111 MASTER DILIP SHAH S 30000 38.00
11/3/2010 590111 MASTER RAMATULASI MORTHA S 28300 39.25
11/3/2010 531096 Mount Everest Min TREE LINE ASIA MASTER FUND (SINGAPORE) PTE LIMITED S 450000 70.33
11/3/2010 531834 Natura Hue Chem JYOTI PORTFOLIO LIMITED B 77427 11.55
11/3/2010 531834 Natura Hue Chem ANGEL INFIN PRIVATE LIMITED B 74888 11.59
11/3/2010 531834 Natura Hue Chem CHETAN DOGRA S 55769 11.55
11/3/2010 531834 Natura Hue Chem JYOTI PORTFOLIO LIMITED S 37427 12.65
11/3/2010 531834 Natura Hue Chem ANGEL INFIN PRIVATE LIMITED S 74888 12.14
11/3/2010 531834 Natura Hue Chem CHETAN DOGRA S 30954 11.55
11/3/2010 531834 Natura Hue Chem CHETAN DOGRA HUF S 39034 11.60
11/3/2010 531496 Omkar Overseas PRANALI COMMODITIES PVT.LTD B 25000 57.80
11/3/2010 531496 Omkar Overseas DARI TEJAS K B 38552 58.73
11/3/2010 531496 Omkar Overseas VISHAL M RAMNANI S 38462 58.73
11/3/2010 531496 Omkar Overseas CHAMPALAL GOPIRAM AGARWAL S 25000 59.50
11/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED B 8797 213.12
11/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL B 18000 213.50
11/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED S 11500 209.55
11/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL S 9000 208.05
11/3/2010 517195 ORG Informatics HARINAMBALALCHOKSI S 125000 13.02
11/3/2010 513121 Oricon Enter NINA SUNIL DALAL S 53340 344.31
11/3/2010 531280 Pankaj Poly GARNET INTERNATIONAL LIMITED B 52000 19.50
11/3/2010 531280 Pankaj Poly INDRA GAGGAR S 55000 19.50
11/3/2010 503873 Priyadarshini Spn JAG PAR SECURITIES LTD B 56889 20.11
11/3/2010 503873 Priyadarshini Spn PARDEEP AGGARWAL S 73803 20.03
11/3/2010 590077 Ranklin Sol MORTALA KOTIREDDY B 30000 55.05
11/3/2010 507508 Riga Sugar BISHWANATH PRASAD AGARWAL B 76674 32.65
11/3/2010 507508 Riga Sugar SUVARNA KUMARI AGRAWAL S 76674 32.65
11/3/2010 533056 SARK SYS SANKAR SEN B 56967 13.35
11/3/2010 533056 SARK SYS RAHUL RAJU KANUMURU S 100000 13.35
11/3/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. B 195201 86.91
11/3/2010 532886 SEL Mfg Company DKG SECURITIES PVT. LTD. B 150000 84.00
11/3/2010 532886 SEL Mfg Company TRANS FINANCIAL RESOURCES LIMITED B 511540 86.30
11/3/2010 532886 SEL Mfg Company KII LIMITED S 300000 84.01
11/3/2010 532886 SEL Mfg Company TRANSGLOBAL SECURITIES LTD. S 195201 87.04
11/3/2010 532886 SEL Mfg Company DKG SECURITIES PVT. LTD. S 150000 89.00
11/3/2010 532886 SEL Mfg Company TRANS FINANCIAL RESOURCES LIMITED S 511540 87.54
11/3/2010 526827 Spice Islands USHA GURMUKHDAS SUKHWANI B 25000 38.34
11/3/2010 526133 Supertex Inds SHAISHIL TUSHARKUMAR JHAVERI B 555426 3.15
11/3/2010 526133 Supertex Inds SHAISHIL TUSHARKUMAR JHAVERI S 621604 3.07
11/3/2010 531102 Surana Corp SHANTHILAL SURANA B 306977 62.90
11/3/2010 531102 Surana Corp THE INDIAMAN FUND MAURITIUS LIMITED S 309000 62.90
11/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. B 114914 115.27
11/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL B 114134 116.23
11/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. S 114914 115.13
11/3/2010 533157 SYNCOM HEAL SANJEEV SINGHAL S 114134 116.22
11/3/2010 533164 TEXMO PIPES ALIVE CONSULTANTS B 71165 151.18
11/3/2010 533164 TEXMO PIPES VENTURE BROKING PVT. LTD B 137603 148.53
11/3/2010 533164 TEXMO PIPES NILESH HARIKISHANDAS BHUTA B 79036 149.32
11/3/2010 533164 TEXMO PIPES SMITAM PATEL B 60240 148.10
11/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. B 1241113 149.10
11/3/2010 533164 TEXMO PIPES PASHUPATI CAPITAL SERVICE PVT LTD B 196640 147.94
11/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED B 834556 150.76
11/3/2010 533164 TEXMO PIPES TRANSGLOBAL SECURITIES LTD. B 356863 148.01
11/3/2010 533164 TEXMO PIPES PRAVIN DHANJIBHAI MEHTA B 126756 146.86
11/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED B 243270 148.65
11/3/2010 533164 TEXMO PIPES MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 155366 151.59
11/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD B 204727 148.98
11/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. B 345033 149.68
11/3/2010 533164 TEXMO PIPES EUREKA STOCK & SHARE BROKING SERVICES LTD B 94495 151.60
11/3/2010 533164 TEXMO PIPES SANJAY SINGHAL & SONS (HUF) B 82803 151.65
11/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL B 852533 150.86
11/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD B 1055536 150.52
11/3/2010 533164 TEXMO PIPES UTTAM SHARE BROKERS PRIVATE LIMITED B 74201 149.04
11/3/2010 533164 TEXMO PIPES M/S ARV ENTERPRISES B 70000 151.40
11/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED B 132666 147.59
11/3/2010 533164 TEXMO PIPES STANDARD SECURITIES & INVESTMENTS INTERMEDIATE LIMITED B 93627 151.95
11/3/2010 533164 TEXMO PIPES Naman Securities & Finance Pvt. Ltd. B 70801 146.43
11/3/2010 533164 TEXMO PIPES PUKHRAJJAIN B 63000 152.18
11/3/2010 533164 TEXMO PIPES JMP SECURITIES PVT LTD B 111101 147.37
11/3/2010 533164 TEXMO PIPES VIDHI JITENDRA JAIN B 73963 149.99
11/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED B 167251 149.13
11/3/2010 533164 TEXMO PIPES LATIN MANHARLAL SEC.PVT.LTD. B 82590 149.25
11/3/2010 533164 TEXMO PIPES NIMIT JAYENDRA SHAH B 72022 146.55
11/3/2010 533164 TEXMO PIPES VARDHAMAN INVESTMENT B 190000 143.50
11/3/2010 533164 TEXMO PIPES BLUE PEACOCK SECURITIES PRIVATE LIMITED B 190000 153.98
11/3/2010 533164 TEXMO PIPES H J SECURITIES PVT LTD B 60935 146.84
11/3/2010 533164 TEXMO PIPES DEEPAKPOPATLALVORA B 111575 147.97
11/3/2010 533164 TEXMO PIPES JAIN SANJAY POPATLAL B 118275 148.61
11/3/2010 533164 TEXMO PIPES NAVEEN TAPARIA B 288458 149.22
11/3/2010 533164 TEXMO PIPES BP FINTRADE PRIVATE LIMITED B 220537 153.41
11/3/2010 533164 TEXMO PIPES C R KOTHARI AND SONS EQUITIES PRIVATE LIMITED B 65883 145.58
11/3/2010 533164 TEXMO PIPES C R KOTHARI AND SONS STOCK BROKING PVT. LTD. B 66469 152.32
11/3/2010 533164 TEXMO PIPES ALIVE CONSULTANTS S 71165 149.95
11/3/2010 533164 TEXMO PIPES VENTURE BROKING PVT. LTD S 137603 148.39
11/3/2010 533164 TEXMO PIPES NILESH HARIKISHANDAS BHUTA S 57808 148.86
11/3/2010 533164 TEXMO PIPES SMITAM PATEL S 60240 147.56
11/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. S 1241113 149.12
11/3/2010 533164 TEXMO PIPES PASHUPATI CAPITAL SERVICE PVT LTD S 195640 147.69
11/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED S 834556 150.86
11/3/2010 533164 TEXMO PIPES TRANSGLOBAL SECURITIES LTD. S 356863 147.67
11/3/2010 533164 TEXMO PIPES PRAVIN DHANJIBHAI MEHTA S 126756 146.88
11/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED S 243270 148.19
11/3/2010 533164 TEXMO PIPES MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 155366 151.71
11/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD S 204727 148.62
11/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. S 345033 149.43
11/3/2010 533164 TEXMO PIPES EUREKA STOCK & SHARE BROKING SERVICES LTD S 94495 151.68
11/3/2010 533164 TEXMO PIPES SANJAY SINGHAL & SONS (HUF) S 82803 151.79
11/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL S 852533 150.95
11/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD S 1055536 150.64
11/3/2010 533164 TEXMO PIPES UTTAM SHARE BROKERS PRIVATE LIMITED S 74201 148.66
11/3/2010 533164 TEXMO PIPES M/S ARV ENTERPRISES S 70000 149.83
11/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED S 132666 147.48
11/3/2010 533164 TEXMO PIPES STANDARD SECURITIES & INVESTMENTS INTERMEDIATE LIMITED S 93793 146.87
11/3/2010 533164 TEXMO PIPES Naman Securities & Finance Pvt. Ltd. S 73313 145.22
11/3/2010 533164 TEXMO PIPES PUKHRAJJAIN S 58000 151.81
11/3/2010 533164 TEXMO PIPES JMP SECURITIES PVT LTD S 98501 147.18
11/3/2010 533164 TEXMO PIPES VIDHI JITENDRA JAIN S 73963 150.03
11/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED S 167251 148.73
11/3/2010 533164 TEXMO PIPES LATIN MANHARLAL SEC.PVT.LTD. S 79590 149.32
11/3/2010 533164 TEXMO PIPES NIMIT JAYENDRA SHAH S 72022 147.08
11/3/2010 533164 TEXMO PIPES VARDHAMAN INVESTMENT S 190000 153.99
11/3/2010 533164 TEXMO PIPES BLUE PEACOCK SECURITIES PRIVATE LIMITED S 190000 143.50
11/3/2010 533164 TEXMO PIPES H J SECURITIES PVT LTD S 60935 146.90
11/3/2010 533164 TEXMO PIPES DEEPAKPOPATLALVORA S 97525 147.98
11/3/2010 533164 TEXMO PIPES JAIN SANJAY POPATLAL S 118275 148.82
11/3/2010 533164 TEXMO PIPES NAVEEN TAPARIA S 288458 149.48
11/3/2010 533164 TEXMO PIPES BP FINTRADE PRIVATE LIMITED S 217536 153.93
11/3/2010 533164 TEXMO PIPES C R KOTHARI AND SONS EQUITIES PRIVATE LIMITED S 65883 152.52
11/3/2010 533164 TEXMO PIPES C R KOTHARI AND SONS STOCK BROKING PVT. LTD. S 66469 145.30
11/3/2010 507205 Tilaknagar Inds AMIT ARUN DAHANUKAR S 300000 110.82
11/3/2010 531830 Todays Writing STATE BANK OF HYDERABAD S 89127 20.35
11/3/2010 526987 Urja Glob PK GOYAL S 21000 75.85
11/3/2010 526755 Velan Hotels BIPINBHOGILALRAWAL B 40490 55.75
11/3/2010 526755 Velan Hotels TARUNKUMAR G BRAHMBHATT S 219956 56.08
11/3/2010 526755 Velan Hotels DECENT FIN SER (P) LTD S 85754 55.79
11/3/2010 526755 Velan Hotels NEHABRAVAL S 43927 55.87
11/3/2010 526755 Velan Hotels BIPINBHOGILALRAWAL S 53510 55.68
11/3/2010 531249 Well Pack Papers MAYANK N GANDHI B 23136 466.89
11/3/2010 531249 Well Pack Papers ADITI M GANDHI B 24089 465.91
11/3/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 25114 465.60
11/3/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 24005 465.90
11/3/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 33572 466.47
11/3/2010 531249 Well Pack Papers AATMAN INNOVATIONS PRIVATE LIMITED S 25000 465.90
11/3/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 23783 465.40
11/3/2010 531249 Well Pack Papers YOGARATHINAMSIVAARUL S 99500 465.68
11/3/2010 532883 Zylog Systems VANAJA SUNDAR IYER B 100000 394.50
11/3/2010 532883 Zylog Systems SUNDAR IYER B 100000 394.51
11/3/2010 532883 Zylog Systems BLUE PEACOCK SECURITIES PRIVATE LIMITED B 95000 406.00
11/3/2010 532883 Zylog Systems VISWANATHANMAYURAMGANESAN S 200000 394.51
11/3/2010 532883 Zylog Systems BLUE PEACOCK SECURITIES PRIVATE LIMITED S 95000 405.87
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 11 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-MAR-2010,ATLANTA,Atlanta Limited,PRIMORE SOLUTIONS PVT.LTD,BUY,112575,209.33,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,DHEERAJ WADHAWAN,BUY,3005998,204.70,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,KAPIL WADHAWAN,BUY,3005998,204.70,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,WADHAWAN HOLDINGS PVT LTD,BUY,1700049,204.70,-
11-MAR-2010,DHAMPURSUG,DHAMPUR SUGAR MILLS LTD,COGENT CORPORATE INFRASTRUCTURE PVT LTD,BUY,2,88.45,-
11-MAR-2010,DHAMPURSUG,DHAMPUR SUGAR MILLS LTD,COGENT CORPORATE PATHFINDERS LTD.,BUY,402145,86.25,-
11-MAR-2010,HDIL,Housing Development and I,WADHAWAN RAKESHKUMAR KULDEEPSINGH,BUY,3299090,312.50,-
11-MAR-2010,JAYAGROGN,Jayant Agro Organics Ltd.,WALLFORT SHARES & STOCK BROKERS LTD,BUY,80000,78.05,-
11-MAR-2010,MANINFRA,Man Infra Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,688413,360.83,-
11-MAR-2010,MANINFRA,Man Infra Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,338820,363.79,-
11-MAR-2010,MANINFRA,Man Infra Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,437964,360.34,-
11-MAR-2010,MANINFRA,Man Infra Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,305707,358.44,-
11-MAR-2010,MANINFRA,Man Infra Ltd,R APPALA RAJU,BUY,260000,359.67,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,TRANS FINANCIAL RESOURCES LTD,BUY,708220,84.66,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,BUY,220815,87.22,-
11-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,120888,115.06,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,333311,148.44,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ALIVE CONSULTANTS ALIVE,BUY,74990,149.85,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ANAND KUMAR,BUY,60471,149.74,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ASHOKKUMAR GOVINDBHAI PARMAR,BUY,61645,147.14,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,45283,145.02,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,AXIS CAPITAL MARKETS (INDIA) LTD ,BUY,77031,148.41,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BHAVIN SURESH CHHEDA,BUY,100920,151.44,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BLUE PEACOCK SECURITIES PVT LT,BUY,196000,148.73,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BP FINTRADE PRIVATE LIMITED,BUY,335754,147.64,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,BUY,210044,150.10,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,217695,148.67,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEEPAK SHANTILAL CHHEDA,BUY,135707,148.17,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEPANSU SECURITIES INDIA PRIVATE LIMITED,BUY,87025,150.27,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHYAN SECURITIES PVT LTD,BUY,86768,146.72,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DINESH MUNJAL(HUF),BUY,407000,149.34,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,G RAMAKRISHNA,BUY,145000,147.92,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,1303622,149.17,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GHALLA BHANSALI STOCK BROKERS PRIVATE LIMITED,BUY,67606,151.51,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,HARSHAD MAHENDRABHAI VERMA,BUY,75000,148.32,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,INDIA ADVANTAGE SECURITIES LTD.,BUY,183763,148.35,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,JMP SECURITIES PVT LTD,BUY,127140,148.78,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KAKANI OMPRAKASH,BUY,62723,150.94,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,BUY,68390,147.71,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KHANDWALA TRADELINK CO,BUY,82465,148.87,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KRIPA SECURITIES PRIVATE LIMITED,BUY,100000,149.98,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KRISH CAPITAL SERVICES,BUY,81304,151.12,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,LAXMI GOVIND KULKARNI,BUY,83000,147.70,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,473598,150.16,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,530915,149.61,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MBL & COMPANY LTD.,BUY,59588,147.49,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MUKUL RAMVALLABH TIBREWALA,BUY,57772,147.12,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,368584,148.85,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NEPTUNE FINCOT PVT LTD,BUY,256854,151.43,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,BUY,161264,149.50,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PASHUPATI CAPITAL SERVICES PVT. LTD.,BUY,329228,147.30,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PKC STOCK BROKING PRIVATE LIMITED,BUY,66548,143.33,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRAMESH DILIP WAGHELA,BUY,66116,152.01,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRASHANT JAYANTILAL PATEL,BUY,248889,151.80,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRB SECURITIES PRIVATE LTD.,BUY,72213,150.06,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R APPALA RAJU,BUY,470000,149.51,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,BUY,262875,149.27,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,BUY,153053,147.45,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANDIP RASIKLAL SHAH HUF,BUY,57292,147.17,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANJAY BHANWARLAL JAIN,BUY,86221,149.54,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SARLA DEVI,BUY,92000,149.80,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SMP SECURITIES LTD.,BUY,76724,152.38,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUMITA SAXENA,BUY,100167,147.12,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SURJIT SINGH REKHI,BUY,65000,148.69,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUSHIL FINANCIAL SERVICES PRIVATE LIMITED,BUY,98783,148.30,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,375957,147.65,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,URVI INVESTMENT (PROP:JYOTI MEHTA),BUY,75150,153.86,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,UTTAM SHARE BROKER PVT. LTD.,BUY,74201,148.57,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VASANTI SHARE BROKERS LIMITED,BUY,66975,149.02,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VIMALA.S.,BUY,72184,151.40,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,YASH INVESTMENTS,BUY,62072,152.05,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,YOKE SECURITIES LTD.,BUY,143477,148.28,-
11-MAR-2010,ATLANTA,Atlanta Limited,PRIMORE SOLUTIONS PVT.LTD,SELL,112575,209.76,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,ANU SARANG WADHWAN,SELL,777729,204.70,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,SARANG RAKESH WADHAWAN,SELL,1835572,204.70,-
11-MAR-2010,DEWANHOUS,Dewan Housing Fin Corp,WADHAWAN RAKESHKUMAR KULDEEPSINGH,SELL,5098744,204.70,-
11-MAR-2010,DHAMPURSUG,DHAMPUR SUGAR MILLS LTD,COGENT CORPORATE INFRASTRUCTURE PVT LTD,SELL,402969,86.25,-
11-MAR-2010,DOLPHINOFF,Dolphin Offshore Enterpri,MADHUKAR CHIMANLAL SHETH,SELL,100000,370.54,-
11-MAR-2010,HDIL,Housing Development and I,DHEERAJ WADHAWAN,SELL,1945000,312.50,-
11-MAR-2010,HDIL,Housing Development and I,KAPIL WADHAWAN,SELL,1945000,312.50,-
11-MAR-2010,ICSA,ICSA (India) Limited,LLOYD GEORGE INVESTMENT MANAGEMENT (BERMUDA) LTD A/C ASIAN S,SELL,243711,135.48,-
11-MAR-2010,INDIABULLS,Indiabulls Financial Serv,MORGAN STANLEY MAURITIUS COMPANY LTD,SELL,2855158,108.01,-
11-MAR-2010,JAYAGROGN,Jayant Agro Organics Ltd.,WALLFORT FINANCIAL SERVICES LTD,SELL,80000,78.05,-
11-MAR-2010,MANINFRA,Man Infra Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,688413,361.04,-
11-MAR-2010,MANINFRA,Man Infra Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,338820,364.11,-
11-MAR-2010,MANINFRA,Man Infra Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,437964,360.29,-
11-MAR-2010,MANINFRA,Man Infra Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,305707,358.33,-
11-MAR-2010,MANINFRA,Man Infra Ltd,R APPALA RAJU,SELL,260000,360.26,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,CREDO INDIA THEMATIC FUND LIMITED,SELL,200000,84.00,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,KUVERA CAPITAL PARTNERS LLP A/C KUVERA FUND LIMITED GDR,SELL,300000,84.33,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,TRANS FINANCIAL RESOURCES LTD,SELL,708220,87.37,-
11-MAR-2010,SELMCL,SEL Manufacturing Company,TRANSGLOBAL SECURITIES LTD.,SELL,220815,87.18,-
11-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,120888,115.19,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,333311,148.87,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ALIVE CONSULTANTS ALIVE,SELL,74990,151.31,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ANAND KUMAR,SELL,60471,149.00,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ASHOKKUMAR GOVINDBHAI PARMAR,SELL,61645,145.67,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,79633,143.63,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,AXIS CAPITAL MARKETS (INDIA) LTD ,SELL,77031,148.40,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BHAVIN SURESH CHHEDA,SELL,100920,151.45,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BLUE PEACOCK SECURITIES PVT LT,SELL,226000,148.44,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BP FINTRADE PRIVATE LIMITED,SELL,334756,147.78,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,SELL,210044,150.27,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,217695,149.05,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEEPAK SHANTILAL CHHEDA,SELL,135707,148.28,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEPANSU SECURITIES INDIA PRIVATE LIMITED,SELL,87025,149.52,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DHYAN SECURITIES PVT LTD,SELL,86768,146.67,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DINESH MUNJAL(HUF),SELL,407000,149.70,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,G RAMAKRISHNA,SELL,145000,147.83,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,1303622,149.31,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GHALLA BHANSALI STOCK BROKERS PRIVATE LIMITED,SELL,67606,151.67,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,HARSHAD MAHENDRABHAI VERMA,SELL,75000,145.71,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,INDIA ADVANTAGE SECURITIES LTD.,SELL,183763,148.27,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,JMP SECURITIES PVT LTD,SELL,127140,148.75,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KAKANI OMPRAKASH,SELL,62723,151.10,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KAUSHIK SHAH SHARES & SECURITIES PVT LTD,SELL,68390,148.03,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KHANDWALA TRADELINK CO,SELL,82465,149.01,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KRIPA SECURITIES PRIVATE LIMITED,SELL,100000,149.98,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,KRISH CAPITAL SERVICES,SELL,81304,151.01,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,LAXMI GOVIND KULKARNI,SELL,83000,146.86,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,473598,150.23,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,530915,149.89,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MBL & COMPANY LTD.,SELL,59588,148.13,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MUKUL RAMVALLABH TIBREWALA,SELL,57772,147.09,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,372180,148.80,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NEPTUNE FINCOT PVT LTD,SELL,256854,151.54,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,SELL,161264,149.69,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PASHUPATI CAPITAL SERVICES PVT. LTD.,SELL,329228,147.57,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PKC STOCK BROKING PRIVATE LIMITED,SELL,66548,144.09,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRAMESH DILIP WAGHELA,SELL,66116,152.11,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRASHANT JAYANTILAL PATEL,SELL,248889,151.74,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PRB SECURITIES PRIVATE LTD.,SELL,72213,150.10,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R APPALA RAJU,SELL,470000,149.31,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,SELL,262875,149.37,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,SELL,153053,147.59,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANDIP RASIKLAL SHAH HUF,SELL,57292,147.76,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANJAY BHANWARLAL JAIN,SELL,86221,149.58,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SARLA DEVI,SELL,92000,148.62,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SMP SECURITIES LTD.,SELL,76724,150.24,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUMITA SAXENA,SELL,100167,147.72,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SURJIT SINGH REKHI,SELL,65000,148.64,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUSHIL FINANCIAL SERVICES PRIVATE LIMITED,SELL,98783,148.31,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,375947,148.14,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,URVI INVESTMENT (PROP:JYOTI MEHTA),SELL,75150,152.50,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,UTTAM SHARE BROKER PVT. LTD.,SELL,74201,149.22,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VASANTI SHARE BROKERS LIMITED,SELL,66975,151.14,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,VIMALA.S.,SELL,72184,151.52,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,YASH INVESTMENTS,SELL,62072,152.10,-
11-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,YOKE SECURITIES LTD.,SELL,143477,148.56,-
11-MAR-2010,TODAYS,Todays Writing Products L,STATE BANK OF HYDERABAD,SELL,200000,20.32,-
Sensex vaults 5.6% since Budget on buying by foreign funds
The key benchmarks settled at their highest level in a month and a half as sustained buying by foreign funds since the presentation of the Budget late last month underpinned sentiment. Banking and IT stocks rose. But auto stocks fell. Index heavyweight Reliance Industries edged higher. The BSE 30-share Sensex rose 69.63 points or 0.41%, up close to 135 points from the day's low. The Sensex and the 50-unit S&P CNX Nifty struck their highest level since 21 January 2010. Most Asian stocks rose.
The market was volatile. Stocks moved between positive and negative territory near the flat line in early trade. The Sensex recovered from lower level in morning trade after hitting a fresh intraday low. The intraday recovery gathered steam with the Sensex surging to the day's high later. The market pared gains after hitting fresh intraday high in early afternoon trade. The market once again pared gains soon again after jumping to day's high in mid-afternoon trade. The Sensex surged at the fag end of the trade as European stocks recovered from early lows.
Sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010 has lifted investor sentiment. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 7511.10 crore this month, till 10 March 2010. The Sensex has garnered 913.76 points or 5.6% since the presentation of the Budget on 26 February 2010.
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.
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.
The food price index rose 17.81% in the 12 months to 27 February 2010, while the fuel price index was up 11.38%, the latest government data showed. The rise in the food price index was marginally lower than an annual rise of 17.87% in the previous week. The primary articles price index was up 15.08% year-on-year as on 27 February 2010.
Food prices will be keenly watched in coming weeks for the second and third round impacts of the recent fuel price rise.
The wholesale price inflation is unlikely to touch double digits by end-March, M. Govinda Rao, a member of the Prime Minister's Economic Advisory Council, said on Wednesday. The wholesale price index inflation, reached 8.56 % in January 2010.
Chief Economic Advisor Kaushik Basu on Tuesday, 9 March 2010, said inflation would ease by April 2010, with low fiscal deficit and a good rabi (winter) crop improving food supplies. In a couple of months, the slightly lower fiscal deficit will begin to counter inflation, he added. Speaking on the sidelines of a conference in New Delhi Basu said inflation is likely to average 4% in the current financial year.
The government will unveil industrial output data for January 2010 on Friday, 12 March 2010. Industrial production is expected to rise more than 16% in January 2010 from a year earlier. Industrial output rose at a robust 16.8% in December 2010
A strong rise in the output, a 7.2% government growth forecast for the 2009-10 financial year and inflation worries would make for a strong case for the central bank to hike benchmark rates like repo and reverse repo rates at its April policy review.
Market expectations regarding a possible rate hike in April remain unchanged, after the Reserve Bank of India (RBI) resorted to a sharper than expected 75 basis point hike in cash reserve requirements for banks at its January meeting. Market watchers expect the RBI's next move will be to raise both its benchmark lending and borrowing rates rates by at least 25 bps each to 5% and 3.50% respectively.
The government's record borrowing plan for the fiscal year starting 1 April 2010 is unlikely to be a huge challenge, Reserve Bank of India (RBI) Deputy Governor Subir Gokarn said on Thursday, 11 March 2010
A newly elected president of industry body FICCI Rajan Bharti Mittal said on Monday there's no room for hardening of interest rates and the Reserve Bank of India should maintain status quo on the rates to allow the industry to make fresh investments. He added that fresh investment announcement have begun across sectors and further increase in interest rates will only hamper economic growth.
Reserve Bank of India (RBI) Governor D Subbarao on Monday, 8 March 2010, said inflation should moderate in the coming months. He said the central bank will ensure that interest rate levels do not have a negative impact on the competitiveness of the economy. Should India need to manage inflationary expectations, the central bank could turn to its traditional mix of policy tools including use of both liquidity and cash reserve requirements, he said.
Meanwhile, the follow-on public offer (FPO) of iron ore miner NMDC received tepid response. The issue was subscribed 20% by 16:00 IST on the second day of the issue on Thursday. The FPO ends on Friday, 12 March 2010. The government is divesting 8.38% stake in NMDC through the FPO as a part of its aggressive divestment drive to raise funds in a bid to bring fiscal deficit down. The price band has been fixed between Rs 300 and 350.
Meanwhile, the board of state-owned telecom company Bharat Sanchar Nigam (BSNL) on Wednesday cleared a proposal for the divestment of 30% government equity in it, as suggested by a committee set up under Sam Pitroda, the prime minister's telecom and infrastructure advisor. The board also accepted the three-member Pitroda panel's proposal to reduce BSNL's 300,000 staffers by a third. In addition, it accepted the Pitroda recommendation to have a contract-based appointment system for top management, separate positions for MD and CEO and a formation of an advisory board.
Meanwhile, 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.
National Stock Exchange (NSE) and Singapore Exchange have signed a preliminary agreement to explore possible listing of more India-linked products on the latter, the NSE said in a release late Wednesday. Both exchanges aim to explore future collaboration in the expansion, development and promotion of India-linked products and services to be listed on Singapore Exchange, the NSE said. The NSE said these products may include equity and other asset classes and the two exchanges would also look into a bilateral securities trading link to enable investors in one country to trade on the other country's exchange.
European shares moved off early lows on Thursday, helped by an advance in the auto sector after German auto giant Volkswagen reported fiscal-year results. Germany's DAX rose 0.07%. The key benchmark indices in France and UK were down by between 0.21% to 0.24%.
Most Asian markets rose in choppy trade on Thursday. Many Asian markets had fallen earlier in the day as investors fretted over tighter monetary policy in China on the back of strong loan growth and quickening inflation. The key benchmark indices in China, Hong Kong, Indonesia and Singapore rose by between 0.08% to 0.41%. China's inflation spiked in February 2010, driven by a surge in food prices, raising the chances of Beijing taking more steps to cool the country's economic recovery.
China's industrial production in the first two months of the year expanded 20.7% from a year earlier, picking up from an 18.5% rise in December 2009. That exceeded median estimates of 19.5% for the period.
Japan's Nikkei ended nearly 1% higher. The government reported Thursday that Japan's economy, the world's second biggest, expanded at a slower pace in the final three months of last year than initially estimated.
South Korea's benchmark index Kospi fell 0.34% after the country's central bank left its key interest rate at a record low Thursday. The Taiwan Weighted index fell 0.38%.
Trading in US index futures indicated that the Dow could shed 15 points at the opening bell on Thursday, 11 March 2010.
US stocks closed higher on Wednesday, 10 March 2010 led by financials and technology stocks. Staples and telecoms were the biggest decliners. The Dow closed flat at 10,567. The Nasdaq Composite index rose 0.75% and the S&P 500 index gained 0.45%. In economic news, wholesales inventories unexpectedly fell 0.2% in January as sales rose to their highest level since October 2008. In other data, mortgage applications rose last week even as mortgage rates rose.
The industry output figures for Italy and France were stronger than expected in January but analysts said there was little in the data to suggest a broader pick-up in euro zone economic growth.
The Greek economy is set to shrink by more than expected this year, the government said on Wednesday, as it braced for nationwide strikes protesting its plans for bringing the country's budget deficit under control.
Close home, the BSE 30-share Sensex rose 69.63 points or 0.41% to 17,167.96, its best close since 20 January 2010. The barometer index jumped 116.74 points at the day's high of 17,215.07 at the fag end of the trade. The Sensex lost 44.05 points at the day's low of 17,054.26 in early trade.
The 50-unit S&P Nifty rose 17.15 points or 0.34% to 5133.40, its highest level since 20 January 2010. Nifty hit a high of 5152.60.
The market breadth, indicating the overall health of the market was weak. On BSE, 1782 shares declined as compared with 1058 that advanced. A total of 81 shares remained unchanged. The breadth was positive in early trade.
The BSE Mid-Cap index fell 0.15% and the BSE Small-Cap index fell 0.5%. Both the indices underperformed the Sensex.
The BSE IT index (up 1%), the BSE Teck index (up 0.93%), the BSE Bankex (up 0.69%), the BSE Consumer Durables index (up 0.69%), the BSE Oil & Gas index (up 0.49%), the BSE HealthCare index (up 0.42%), outperformed the Sensex.
The BSE Auto index (down 0.95%), the BSE FMCG index (down 0.79%), the BSE PSU index (down 0.59%), the BSE Metal index (down 0.32%), the BSE Realty index (down 0.18%), the BSE Power index (down 0.1%), the BSE Capital goods index (was flat), underperformed the Sensex.
Among the 30-member Sensex pack, 15 rose while the rest fell.
BSE clocked a turnover of Rs 3799 crore, lower than Rs 4641.82 crore on Wednesday, 10 March 2010.
India's largest FMCG maker by sales Hindustan Unilever fell 4.21% after the company's competitor Procter & Gamble raised the weight of its 'Tide Naturals' detergent powder by 25%, effectively offering consumers lower pricing. Among other FMCG stocks, United Spirits, Britannia Industries, Nestle India fell by between 0.54% to 2.29%.
Index heavyweight Reliance Industries (RIL) advanced 0.84%, adding to Wednesday's 1.8% gains. As per reports, RIL is close to striking hydrocarbon at its Palar deepwater block in the Cauvery basin. In the Palar block, RIL is said to be testing a well. The hydrocarbon success would be known only after testing is completed.
Auto stocks fell on reports auto makers are in for a rough ride ahead as a rise in raw material prices coupled with costs associated with new emission norms could force them to increase prices further, which may hit volumes. India's largest bike maker by sales Hero Honda Motors fell 0.98% to Rs 1911.05. It had hit a all time high of Rs 1940 on Wednesday, 10 March 2010. Hero Honda has shortlisted Karnataka as one of the states for setting up its fourth manufacturing plant. Hero Honda Motors has reportedly proposed an investment of Rs 2,000 crore for the upcoming plant.
India's largest truck maker by sales Tata Motors fell 0.97%. The stock fell 3.24% on Tuesday after Germany's Daimler AG offloaded its entire stake in Tata Motors in bulk deals. Daimler AG sold its entire about 2.56 crore shares at an average price of Rs 751.67 in Tata Motors through various bulk deals on Tuesday, 9 March 2010.
Tata Sons, the holding entity for Tata Group firms, and Citigroup have acquired a total of 86.5 lakh shares of Tata Motors from Germany's Daimler AG. Tata Sons bought 40 lakh Tata Motors shares at Rs 750 each, while Citi bought 46.5 lakh shares at Rs 752.41 each
India's largest tractor maker by sales Mahindra & Mahindra (M&M) fell 0.52%. Mahindra & Mahindra is reportedly in talks with the Sonalika group to pick up a stake in the unlisted firm's unit which makes sports utility vehicles.
India's largest car maker by sales Maruti Suzuki India fell 0.91%, extending Wednesday's 1.34% losses on fears of rise in competition after rival firm Ford on Tuesday entered the small car market with 'Figo'.
The government raised excise duties on large cars and sport utility vehicles by 2%, which was immediately passed on by vehicles makers, including top carmaker Maruti Suzuki and utility vehicle makers Mahindra & Mahindra and Tata Motors. From 1 April 2010, all vehicles will have to comply with Euro IV emission norms across 13 major cities, adding to costs and setting the stage for another round of price hikes.
Banking stocks rose after credit offtake rose 15.5% at Rs 31.78 lakh crore for the fortnight ended 26 February 2010, raising expectations that credit growth could breach the Reserve Bank of India's projection of 16% by March-end. India's largest private sector bank by net profit HDFC Bank rose 0.72% India's largest private sector bank by net profit ICICI Bank rose 1.4%.
India's largest bank by net profit and branch network State Bank of India (SBI) rose 0.45%, recovering from last two days' slide. State Bank of India (SBI) chairman OP Bhatt said the bank is looking at tapping the retail bond market next year with a 10-year issue, although the initial issue size may be as small as Rs 50-100 crore. Meanwhile, a bill seeking to reduce Centre's shareholding in the SBI from 55% now to 51% and to allow the bank to raise more capital from the market through preference shares, was introduced in the Lok Sabha on Monday.
The amendment bill seeks to provide for enhancement of the capital of SBI by issue of preference shares, to enable it to raise resources from the market by public issue or preferential allotment or private placement. The bill also aims to provide for flexibility in the management of the bank
IT stocks rose on upbeat US economic data. US is the biggest market for Indian IT firms. India's third largest software services exporter by sales Wipro rose 1.73%. India's second largest software services exporter by sales Infosys rose 0.92%.
India's largest software services exporter by sales Tata Consultancy Services (TCS) gained 1.31% extending Wednesday's 1.49% rise. Girja Pande, TCS's Asia-Pacific chairman reportedly indicated that the company hopes to quadruple its market share in Asia outside India within five to seven years.
Realty shares fell as the Budget proposed to impose service tax on the realty sector both on commercial rentals as well as on sale of under-construction housing units. The service tax would come to be about 3.5% of the cost of the apartment that includes the value of the land and also the cost of construction, realty body Credai said recently. Omaxe, Unitech, DLF, HDIL and Phoenix Mills fell by between 0.18% to 1.46%.
Some infrastructure stocks gained following the government's on the infrastructure sector in the latest Budget. The Finance Minister 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. Gammon India, Valecha Engineering, Jaiprakash Associates, Valecha Engineering, Nagarjuna Construction Company rose by between 0.03% to 1.12%.
Metal stocks edged lower as a gauge of six metals traded on the London Metal Exchange, fell 0.94% on Wednesday, 10 March 2010. JSW Steel, Tata Steel, Jindal Steel & Power, National Aluminum Company, Hindalco Industries fell by between 0.32% to 1.72%.
State-run miner NMDC fell 5.13% after the company's follow-on offering (FPO) received a tepid response.
Consumer durables stocks gained on hopes rise in disposable income following widening of tax slabs in the Union Budget 2010-11 may boost sales. Titan Industries, Asian Star Company, Blue Star and Rajesh Exports rose by between 0.76% to 2.06%.
Infrastructure developer Man Infraconstruction settled at Rs 348.25 on BSE, at a premium of 38.2% over the initial public offer price of Rs 252. The stock debuted at Rs 335, a 32.9% premium over the initial public offer (IPO) price.
Cals Refineries clocked the highest volume of 2.39 crore shares on BSE. Texmo Pipes (2.03 crore shares), Man Infrastructure (1.65 crore shares), IKF Technologies (0.77 crore shares) and Shree Ashtavinayak Cine Vision (0.61 crore shares) were the other volume toppers in that order.
Man Infrastructure clocked the highest turnover of Rs 574.91 crore on BSE. Texmo Pipes (Rs 299.53 crore), ICICI Bank (Rs 64.32 crore), State Bank of India (Rs 63.62 crore) and Reliance Industries (Rs 62.99 crore) were the other turnover toppers in that order.
Indian Indices may open firm
Headlines for the day
Areva awarded switchyard contract of 1,000 Mw—Business Standard
NMDC FPO gets poor response on day one—Business Standard
M&M eyes Sonalika's car & tractor biz—DNA Money
Events for the day
Major corporate action
Ex-date for interim dividend of DB Corp
Ex-date for final dividend of Helios & Matheson Information Technology
Ex-date for stock split from Rs10/- to Re1/- of India Securities
IL&FS Transportation Networks IPO opens today
Pradip Overseas IPO opens today
Listing of Man Infraconstruction
Pre-market report
Global signals
The European stocks closed higher on Wednesday, March 10, 2010 after the two straight sessions of losses, with banks rallying and oil majors supported by firmer crude prices.
The Wall Street too closed higher on Wednesday as banks and technology shares gained.
In today's trade, all the Asian indices are trading in the positive territory. At the time of writing this report, SGX Nifty was trading 6.50 points higher.
Indian markets
The domestic indices are expected to open higher following positive signals from the global markets. The market sentiment remains positive, until the Nifty holds the 5100 level. However, the investors are expected to be cautious, if Nifty slip from 5100 level.
Commodity cues
In the commodity space, the Crude oil prices recorded losses for the third straight session, with the Nymex light crude oil for the April series down by $0.36 per barrel, whereas in the metals space, the Comex Gold for the April series and the Comex Silver for the May series was down by $14.10 and $0.03 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On March 10, 2010, FIIs were the net buyers of the Indian Stocks to the tune of Rs1770.20 crore, whereas the Domestic mutual funds, on March 08, 2010, were the net sellers of the stocks to the tune of Rs200.60 crore.
ILFS Transportation Grey Market Premium
| Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) |
| Man Infraconst. | 252 | 80 to 90 | -- |
| United Bank of | 60 to 66 | 8 to 9 | - |
| DQ Entertainment (Inter.) | 75 to 80 | 45 to 50 | -- |
| NMDC (FPO) | 300 to 350 | 20 to 25 | 1900 to 1950 |
| Pradip Overseas | 100 to 110 | 14 to 16 | 1900 to 2000 |
| ILFS Transportation | 242 to 258 | 32 to 33 | 2000 to 2100 |
Market may remain volatile; food inflation data eyed
The market may open flat to slightly higher on mixed Asian cues. US stocks closed higher on Wednesday, 10 March 2010. Closer home, the government will unveil data on some wholesale price indices for the year through 27 February 2010 viz. the food price index, the primary articles index and the fuel price index at 12:00 IST today.
The wholesale price inflation is unlikely to touch double digits by end-March, M. Govinda Rao, a member of the Prime Minister's Economic Advisory Council, said on Wednesday. The wholesale price index inflation, reached 8.56 % in January 2010.
Chief Economic Advisor Kaushik Basu on Tuesday, 9 March 2010, said inflation would ease by April 2010, with low fiscal deficit and a good rabi (winter) crop improving food supplies. In a couple of months, the slightly lower fiscal deficit will begin to counter inflation, he added. Speaking on the sidelines of a conference in New Delhi Basu said inflation is likely to average 4% in the current financial year.
The industrial output data will be announced by the government on Friday, 12 March 2010 which is expected to rise 16.65% in January 2010 from a year earlier. Industrial output data rose 16.8% in December 2010 over a year earlier.
A strong rise in the output, a 7.2% government growth forecast for the 2009-10 financial year and inflation worries would make for a strong case for the central bank to hike benchmark rates like repo and reverse repo at its April policy review.
Market expectations regarding a possible rate hike in April remain unchanged, after the Reserve Bank of India (RBI) resorted to a sharper than expected 75 basis point hike in cash reserve requirements for banks at its January meeting. Market watchers expect the RBI's next move will be to raise both its benchmark lending and borrowing rates rates by at least 25 bps each to 5.00% and 3.50% respectively.
However, the newly elected president of industry body FICCI Rajan Bharti Mittal said on Monday there's no room for hardening of interest rates and the Reserve Bank of India should maintain status quo on the rates to allow the industry to make fresh investments. He added that fresh investment announcement have begun across sectors and further increase in interest rates will only hamper economic growth.
Reserve Bank of India (RBI) Governor D Subbarao on Monday, 8 March 2010, said inflation should moderate in the coming months. He said the central bank will ensure that interest rate levels do not have a negative impact on the competitiveness of the economy. Should India need to manage inflationary expectations, the central bank could turn to its traditional mix of policy tools including use of both liquidity and cash reserve requirements, he said.
Finance minister Pranab Mukherjee's budgetary proposals late last month 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%.
Meanwhile, the follow-on public offer (FPO) of iron ore miner NMDC received tepid response which was subscribed 17% on the first day of the issue on Wednesday, NSE data showed. The government is divesting 8.38% stake in NMDC through the FPO as a part of its aggressive divestment drive to raise funds in a bid to bring fiscal deficit down. The company's FPO will close on Friday, 12 March 2010. The price band has been fixed between Rs 300 and 350.
After the Union government approval, the board of state-owned telecom company Bharat Sanchar Nigam (BSNL) on Wednesday cleared a proposal for the divestment of 30% government equity in it, as suggested by a committee set up under Sam Pitroda, the prime minister's telecom and infrastructure advisor. The board also accepted the three-member Pitroda panel's proposal to reduce BSNL's 300,000 staffers by a third. In addition, it accepted the Pitroda recommendation to have a contract-based appointment system for top management, separate positions for MD and CEO and a formation of an advisory board.
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.
Meanwhile, 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.
Asian markets were mixed on Thursday amid mixed economic news and after U.S. stocks closed with small gains following a report that companies cut their inventories. Japan's Nikkei 225 stock average rose 0.89%. The government reported Thursday that Japan's economy, the world's second biggest, expanded at a slower pace in the final three months of last year than initially estimated.
The Shanghai composite index rose 0.19%. China's inflation spiked in February, raising the chances Beijing will need to cool the country's economic recovery. South Korea's benchmark index Kospi was flat after the country's central bank left its key interest rate at a record low Thursday.
The key benchmark indices in Hong Kong and Taiwan fell by between 0.04% to 0.06%. Indonesia's Jakarta Composite rose 0.27%.
The US stocks closed higher on Wednesday, 10 March 2010 led by financials and technology stocks. Staples and telecoms were the biggest decliners. At the end of trade the Dow closed flat at 10,567. Nasdaq rose 0.75% and the S&P 500 index gained 0.45%. In economic news, wholesales inventories unexpectedly fell 0.2% in January as sales rose to their highest level since October 2008. Economists had expected to see a 0.2-percent increase in inventories. In other data, mortgage applications rose last week even as mortgage rates rose.
The industry output figures for Italy and France were stronger than expected in January but analysts said there was little in the data to suggest a broader pick-up in euro zone economic growth.
The Greek economy is set to shrink by more than expected this year, the government said on Wednesday, as it braced for nationwide strikes protesting its plans for bringing the country's budget deficit under control.
Closer home the key benchmark indices eked out small gains mimicking mild gains in global stocks on Wednesday, 10 March 2010. The BSE 30-share Sensex rose 45.79 points or 0.27% to 17,098.33 on that day.
As per provisional figures on NSE, foreign funds bought shares worth Rs 364.36 crore and domestic funds sold shares worth Rs 375.42 crore on Wednesday.
IDFC Ltd
We recommend a buy in the stock of Infrastructure Development Finance Company (IDFC) from a short-term horizon. It is apparent from the charts that after encountering resistance around Rs 180 in November 2009, the stock was on medium-term correction until it found support around Rs 142 in early February 2010. Subsequently, the stock started to move upwards, it penetrated the medium-term downtrend-line as well as 50-day moving average conclusively on February 26. Moreover, the stock appears to have resumed its long-term uptrend that has been in place since March 2009.
The stock is hovering well above its 21- and 50-day moving averages. The daily relative strength index has re-entered the bullish zone and weekly RSI is on the brink of entering this zone. Both the daily and weekly prices change indicators are hovering in the positive territory implying buying interest. Our short-term forecast is bullish on the stock. We anticipate it's upward journey to prolong until it hits our price target of Rs 182 in the short-term. Traders can consider buying the stock while maintaining stop-loss at Rs 156.
via BL
Daily News Roundup - March 11 2010
SBI to tap retail bond market next year with a 10-year issue. (ET)
RIL has leased an ultra deep water drill ship to boost offshore exploration. (BS)
Tata Steel hit by Orissa Government blanket mining ban order. (BL)
ITC arm to invest Rs11bn in Bhadrachalam paper plant. (BL)
NMDC FPO received bids for 17% of the share on day one. (ET)
NMDC and Nagarjuna Fertilizer are scouting for phosphate mines abroad. (BL)
Government says no FPO offers in IOC and ONGC as of now. (BL)
SBI prefers rights issue over FPO says Chairman OP Bhatt. (BS)
Adani Power out of race to supply power to Gujarat Urja Vikas Nigam. (BS)
Thermax has formed a JV with Babcock and Wilcox for making super critical boilers. (ET)
Jayshree Tea is close to acquiring a company in agro commodity space. (ET)
Supreme Infra wins an order for Rs4.5bn.
Maharashtra Government forms a JV with TCS for a 10-year e-governance project. (ET)
Special auditors submit report on Bharti Airtel to DoT. (ET)
SpiceJet to launch its international operation in June. (ET)
Nagarjuna Fertilizer to form subsidiary in Mauritius. (ET)
GVK Power and Infra arm bags Hydro Power Project worth Rs50bn in J&K. (ET)
SAIL plans to increase annual capacity to 26mn tons by 2014. (ET)
Videocon Industries has fixed right issue price at Rs225 per share. (ET)
Essar Oil interested in building new oil refineries in Indonesia. (ET)
Mphasis will announce salary increment in May. (ET)
P&G increases grammage of Tide Naturals by 25% without any hike in price. (ET)
BSNL board approves Pitroda panel report on 30% stake sale. (ET)
Disinvestment department has return to DoT seeking to know the listing plans for BSNL. (ET)
Dow and S&P 500 index would be soon available on NSE in Indian rupee term. (ET)
Government is considering allowing FI’s to guarantee bond issued by infrastructure companies. (ET)
RBI data indicates that second half bank loan grew by Rs376bn. (ET)
Domestic steel prices may rise next month on higher input cost. (ET)
Tyres production rises by 16% yoy to 79.2mn units during first 10-months of FY10. (BL)
Establishing our world!
To establish oneself in the world, one has to do all one can to appear established.
The Indian equity market appears set to establish its hold. For all those who wake up trying to track how the Nifty is performing on the Singapore Stock Exchange (SGX), there will probably be another breed of investors who will now stay awake to watch the Dow and S&P 500 being traded on our exchange.
Meanwhile, stocks appear to have settled into yet another consolidation phase with no substantial newsflow to trigger direction. Traded volumes have been a bit disappointing even as flows from FIIs have improved. The post Budget feel-good factor which actually coincided with global optimism seems to have ebbed slightly. For lack of other things, fourth quarter results, RBI’s annual policy meeting and monsoon could provide fresh direction going ahead. On the global front, it is going to be more of a mixed bag. External events could surprise on both sides- negative as well as positive.
Today we expect flat to a slightly higher start. US indices have gained overnight. European stocks too advanced while Asian markets are mostly in the green zone. On the technical front, 5150 is proving to be a tough resistance for the NSE Nifty. If it manages to surpass that barrier, the next obstacle could come at around 5190-5200. On the down side, strong support is expected at 5000. Though the UPA is under no real threat, one needs to keep an eye on the developments in the capital.
FIIs were net buyers in the cash segment on Wednesday at Rs3.64bn on a provisional basis. Local funds were net sellers of Rs3.75bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs1.55bn. On Tuesday, FIIs were net buyers of Rs17.7bn in the cash segment.
Elsewhere in the world, the US monthly deficit stood at record $221bn in February. Japan's Q4 growth has been revised down to 0.9% vs initial 1.1%. Bank of Korea has kept its key policy rate unchanged at 2%. Australia's unemployment rate has gone up to 5.3% in February. China's consumer price index (CPI) is up 2.7% from year-earlier, above 2.4% forecast.
US stocks edged higher for a second straight day on Wednesday, thanks to a rally in the financial sector led by American International Group (AIG) and Citigroup, which conducted a successful offering of $2 billion in securities. US bank stocks rose, led by Zions Bancorp, Regions Financial Corp. and SunTrust Banks, amid speculation about mergers and acquisitions in the space.
The Nasdaq ended at its highest level in more than 18 months due to strength in the financial sector and an upbeat report on wholesale inventories. The tech-laced index closed up 18.27 points or 0.78% at 2,358.95. The Dow Jones Industrial Average rose 3 points, or less than 0.1%, to end at 10,567.33. The S&P 500 index advanced 5 points, or 0.5%, to 1,145.
The Nasdaq closed at its highest level since August 2008. Wednesday marked the 10th anniversary of the Nasdaq's all-time closing high of 5,048.62 at the peak of the dot-com bubble.
Market breadth was positive.
Traders said volumes have been declining this week as many market participants have moved to the sidelines amid a lack of market-moving economic reports. The US market has stalled, with the S&P 500 struggling to push past its Jan. 19 high of 1,150. "Until that happens, the market is just going to drift.
The dollar slipped versus the euro but rose against the yen and the pound.
The price of oil rose 60 cents to settle at $82.09 after hitting a high of $83.03 earlier in the session.
Meanwhile, the price of gold fell $14.20 to close at $1,108.10 an ounce.
The price of the 10-year note fell, pushing up the yield to 3.71%. The government sold $21 billion worth of reopened 10-year notes on Wednesday as part of a $74 billion offering of U.S. debt this week.
Bank stocks advanced on upbeat analyst comments and bullish statements from some executives. Citibank rose 3.6% after the company priced a $2 billion offering of trust-preferred securities. Bank of America gained nearly 2%.
AIG soared over 10% as investors cheered the insurance giant's recent asset sales. Fannie Mae and Freddie Mac also gained significant ground.
Shares of energy producers weakened as oil prices pared earlier gains. Oil briefly traded above $83 a barrel after the government reported a smaller-than-expected increase in oil supplies and a dip in gasoline inventory but ended 60 cents higher to settle at $82.09 a barrel. Gold prices fell.
The US Commerce Department said wholesale inventories fell 0.2% in January, after a 1% drop the month before, raising expectations that consumer demand is strengthening.
Separately, the Labor Department said fewer states reported increases in unemployment in January.
The Treasury Department said the government suffered a record $220.9 billion budget deficit in February, after a shortfall of $42.6 billion in January. It was the 17th consecutive monthly deficit and was slightly smaller than the $221 billion shortfall economists had forecast.
Shares of Facet Biotech surged 66% after Abbott Labs announced plans to acquire the company for $27 a share. Abbott gained about 0.7%.
Airline stocks rallied on growing expectations that 2010 is shaping into a profitable year for the industry. Shares of UAL, holding company for United Airlines, and Continental Airlines surged about 5%.
China reported a 46% increase in exports during February. The rise was due in part to stronger demand from consumers in the US and Europe, analysts said.
Investors will turn Thursday to the government's weekly report on initial claims for unemployment benefits. Economists expect claims to have risen last week by 9,000 to 460,000. The Census Bureau's report on the January trade gap is also due out on Thursday.
It was yet another insipid trading session for the Indian markets with the benchmark indices registering modest gains. After being under pressure for majority of the day, markets managed to recover some losses towards the fag end shutting shop off intra-day lows.
The NSE Nifty which broke below the 5100 levels nearly three times during the day, held on to the important level thanks to index heavyweights Reliance Industries and HDFC Bank. While the 17,000 mark remained intact on the BSE Sensex.
However, the breath on the BSE Sensex was negative, out of the total 2905 stocks, 1648 declined as against 1185 advances and 72 remained unchanged.
Among the 30-components of Sensex, 18 stocks ended in the positive and 12 ended in the red.
The BSE Sensex advanced 46 points to end at 17,098 after touching a high of 17,183 and a low of 17,028. The NSE Nifty added 15 points to end at 5,116.
In Asia, the Nikkei in Japan ended flat, while Australia's S&P/ASX also remained unchanged and Hang Seng index in Hong Kong also ended flat.
Even in Europe stocks were trading flat. The DAX in Germany was up 0.2%; the CAC 40 index in France was up 0.2% and the FTSE in the UK was flat.
Coming back to India, among the BSE sectoral indices, the Oil & Gas index was the top gainer, adding 1%, followed by the FMCG index that was up 0.8% and the BSE Realty index was up 0.6%.
Among the losers were BSE Teck index down 0.5% and BSE IT index down 0.4%. Even, the BSE Mid-Cap index was down 0.2% and BSE Small-Cap index was down 0.3%.
Outside the frontline indices, the big gainers in the broader market were M&M Finance, IDFC, Thermax and Indian Hotels. On the other hand, losers included Balrampur Chini, Renuka Sugars, Adani Ent and RCF.
Thermax announced the formation of a strategic joint venture with Babcock & Wilcox Power Generation Group, Inc. to engineer, manufacture and supply supercritical boilers for the Indian power sector. The Joint venture will also manufacture subcritical boilers over 300MW in size.
The stock gained 2.3% to end at Rs671. It opened at Rs658 it touched an intra-day high of Rs680 and a low of Rs658 and recorded volumes of over 0.18mn shares on NSE.
Texmo Pipes and Products, manufacturer of PVC pipes had a scintillating debut on Wednesday. The stock shot up to Rs139 as against its issue price of Rs90 per share, translating into a premium of 54%.
The company had come out with a public issue of 5mn shares in a price band of Rs85 to Rs90 each to raise over Rs425mn. The IPO of Texmo Pipes & Products Limited received subscription of 7.48 times.
The QIBs portion received subscription of 1.02 times with bids for 2499900 equity shares against the offer of 2450000 equity shares. The Non Institutional Investors portion was subscribed 30.4962 times receiving bids for 22414725 equity shares against the offer of 735000 equity shares. The Retail Individual Investors portion of the issue received subscription of 7.26 times.
The company proposes to invest the proceeds to expand its PVC pipes capacity by 66%, start making pipefittings and diversify in woven sacks by October 2010. Post-IPO, the promoter group’s stake in the company will come down to 55.6% from the current 100%.
After being under pressure in the previous trading session, shares of Tata Motors bounced back and gained by 1% to end at Rs780 after Tata Sons and Citigroup Global Markets Mauritius Pvt. acquired the 8.65mn shares from Daimler AG.
Daimler AG had sold its 5.34% stake or 25.5mn equity shares in Tata Motors through a block deal on Tuesday morning, the deal was done at an average price of Rs750 per share on the BSE. Through this share sale, Daimler AG managed to raise Rs19.12bn.
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