Tuesday, March 16, 2010
Today's major news
RIL out of race for Canada's Value Creation; the stock spurts 3.80%
Tata Steel may up prices on input cost pressure; the stock rises by 2.82%
Central Bank to buy back mortgage finance subsidiary; the stock is up by 1.26%
Click here for more stories
On Tuesday, March 16, 2010, the European stocks were higher in early trades, with financials advancing ahead of the outcome of the US Federal Reserve's policy meeting later in the session. At the time of writing this report, FTSE 100 was trading 0.64% higher.
The Asian indices ended the day on a mix trend. SGX Nifty closed 67 points higher.
US stock futures opened marginally higher on Tuesday ahead of the Federal Reserve meeting, on expectation that the policy makers will keep interest rates very low for a long time.
After having lacklustre sessions post the Budget, wherein the markets remained range-bound and the Nifty was not able to break the strong resistance of 5200, today, the heavy buying in the index heavyweights helped to bring in bulls on the festive day. Today, being the first day of the Chaitra month, and is celebrated as New Year's Day by Maharashtrians, the markets made a good come back after a long time. The Sensex had a marginally positive start to open at 17169, up five points on the back of the positive Asian cues. In the morning trade, the market was just losing its momentum and started to erase its gains gradually. The equities were witnessing a choppy session in the absence of triggers to drive it in either direction.
Oil & gas, and capital goods were the top performing sectorals indices while banks and FMCG slipped lower, till mid-after-noon. On the news that the Energy major, Reliance Industries, the30-benchmark index component, was out of race for the Canadian firm Value Creation, which it had bid for $2 billion, the company surged 3.80%. The markets took a sharp U-turn and the bulls helped to touch the day’s high at 17416. The Sensex ended the session 218 points higher, at 17383, while the Nifty finished at 5198, 69 points higher.
The heavy buying activity was seen in the oil & gas sector. Of the 2,902 shares traded on the BSE, 62% (1818) shares advanced whereas 35% (1026) shares declined, while seventy-six shares remained unchanged.
Sectoral & stock screening
All the 13 sector indices closed higher, except fast moving consumer goods (FMCG) and PSU that fell marginally. Oil & Gas index leads the gainers chart, fueled by the Sensex heavyweight Reliance Industries that helped the index to spurt 2.78%, followed by metal that surged 1.73%.
The spurt in volumes helped Jai Corp to top the gainers list, surged by 13.43%, followed by Mahindra & Mahindra Finance that rose by 5.49% and Educomp Solutions that rose by 5.47%. The loser’s for the day were, NMDC that slid 3.16%, followed by Hindustan Copper that declined 2.82%, and Nestle India that closed 2.26% lower.
The continuous buying in Reliance Natural Resources (top gainer in the oil & gas sector), was the most traded share with over 0.52 crore shares changing hands on the BSE, followed by sugar manufacturer — Shree Renuka Sugars (0.45 crore shares), wind power major — Suzlon Energy (0.44 crore shares), India’s second largest realty company — Unitech (0.37 crore shares) and Jai Corp (0.31 crore shares).
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
16/3/2010 517356 ACI Infocom MESSRS SHREEKANT PHUMBHRA S 77000 18.05
16/3/2010 517356 ACI Infocom JINAY INVESTMENT CO PVT LTD S 163000 18.27
16/3/2010 517356 ACI Infocom JINENDRA FISCAL PVT LTD S 60000 18.06
16/3/2010 517356 ACI Infocom SRI BHAGWAN KALYANI S 70000 18.37
16/3/2010 517356 ACI Infocom ROYAL COMPUTERS PVT LTD S 50000 18.35
16/3/2010 517356 ACI Infocom PRATYUSH KHAITAN S 50000 18.17
16/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED B 134559 777.80
16/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD B 85008 773.13
16/3/2010 533163 ARSS INFRA OPG SECURITIES P LTD S 85009 773.69
16/3/2010 533163 ARSS INFRA SMART EQUITY BROKERS PRIVATE LIMITED S 134559 778.45
16/3/2010 531591 Bampsl Sec PRAKASH CHAND GUPTA B 494800 1.29
16/3/2010 524606 Beryl Drugs ABHIRATI TRADING PRIVATE LTD B 500200 8.43
16/3/2010 524606 Beryl Drugs VINOD KUMAR BOHRA S 171600 8.14
16/3/2010 524606 Beryl Drugs RAMCHANDRA SHARMA S 181600 8.14
16/3/2010 524606 Beryl Drugs L K DATA PROCESSING S 170000 8.98
16/3/2010 511607 Birla Shloka ARIHANT SEC & INVESTMENT B 105992 70.95
16/3/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD B 223344 70.67
16/3/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD S 142760 69.53
16/3/2010 511607 Birla Shloka ARIHANT SEC & INVESTMENT S 105992 69.93
16/3/2010 500083 Century Extr MAHIPAT IWDARMAL MEHTA B 375147 7.85
16/3/2010 532184 Ciba India BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. B 263075 321.00
16/3/2010 532184 Ciba India RELIANCE MUTUAL FUND A/C RELIANCE LONG TERM EQUITY FUND S 265226 321.02
16/3/2010 532329 Danlaw Tech HEMANT SNEHKANT SHETH S 19225 10.13
16/3/2010 526614 Expo Gas BDS SHARE BROKERS PVT LTD B 43595 17.95
16/3/2010 526614 Expo Gas LATIN MANHARLAL SEC.PVT.LTD. B 39732 18.76
16/3/2010 526614 Expo Gas BDS SHARE BROKERS PVT LTD S 53162 17.87
16/3/2010 531904 Globus Corp SANDEEP AGARWAL B 325000 1.37
16/3/2010 505576 Goldcrest Fin FPI PADMAKSHI FIN PLAN AND WEALTH MGMT PRIVATE LIMITED B 100000 22.20
16/3/2010 505576 Goldcrest Fin PADMAKSHI EDUCATION PVT LTD S 100000 22.20
16/3/2010 512604 Haria Exports DHARAMPAL SATYAPAL LIMITED B 106400 4.57
16/3/2010 512604 Haria Exports DHARAMPAL PREMCHAND LTD S 106400 4.57
16/3/2010 503881 Hind Syntex DHARAMPAL SATYAPAL LIMITED B 165800 3.50
16/3/2010 503881 Hind Syntex DHARAMPAL PREMCHAND LTD S 165800 3.50
16/3/2010 511682 IFL Promoters SHAM SUNDER GUPTA S 15151 8.86
16/3/2010 531025 Inca Finlease MEENA NIMESH CHHEDA B 25000 81.45
16/3/2010 531025 Inca Finlease BIRLA YAMAHA LIMITED S 90065 81.31
16/3/2010 509684 India Foils ESS DEE ALUMINIUM LTD S 288334 5.93
16/3/2010 504336 Indtradeco VILPABEN PRANAVBHAI VORA S 1541072 0.37
16/3/2010 507796 Jhaveri Flexo SUDARSHAN SECURITIES PVT. LTD. S 230000 34.50
16/3/2010 531784 Kadamb Constr JAYSHREE SOMANI S 250000 54.59
16/3/2010 530955 Kailash Ficom NILESH KRUSHNA PALANDE B 77502 25.84
16/3/2010 530955 Kailash Ficom BHARATI SURESH PENDHARKAR B 77000 25.00
16/3/2010 530955 Kailash Ficom BIKASH SUREKA B 80500 24.97
16/3/2010 530955 Kailash Ficom ANNAPURNA MERCANTILE PVT. LTD. B 121200 25.06
16/3/2010 530955 Kailash Ficom SCOPE VYAPAR PRIVATE LIMITED B 59000 25.23
16/3/2010 530955 Kailash Ficom PR VYAPAAR PRIVATE LIMITED S 67219 25.35
16/3/2010 530955 Kailash Ficom BHIMSARIA SECURITIES PVT. LTD. S 91981 25.25
16/3/2010 530955 Kailash Ficom MANDVI DYES & CHEMICALS CO PVT LTD S 129000 25.00
16/3/2010 502933 Katare Spin HARIPRASAD ATMARAM BAGARIA B 15000 16.14
16/3/2010 530255 KAY Power SUNIL KUMAR GUPTA B 103000 16.60
16/3/2010 530255 KAY Power SUNDER DASS AGARWAL B 70310 15.95
16/3/2010 530255 KAY Power BAMPSL SECURITIES LTD B 243585 16.85
16/3/2010 530255 KAY Power KAUSHALYA GARG B 172000 16.47
16/3/2010 530255 KAY Power NAVAL KISHORE GUPTA S 100000 15.96
16/3/2010 530255 KAY Power KAUSHALYA GARG S 289570 16.22
16/3/2010 530255 KAY Power BAMPSL SECURITIES LTD S 401950 16.24
16/3/2010 530255 KAY Power PRAKASH CHAND GUPTA S 94000 16.93
16/3/2010 530547 KEN Fin Serv NITIN ANANTRAI VORA B 29000 34.35
16/3/2010 530547 KEN Fin Serv CHETNA NITIN VORA B 30000 34.35
16/3/2010 530547 KEN Fin Serv KAMAL M. TIBREWAL S 22000 34.35
16/3/2010 530813 KRBL VOCATION INV & FIN CO PVT LTD B 1830000 24.83
16/3/2010 530813 KRBL STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND S 1812000 24.83
16/3/2010 532998 Lotus Eye Care HEM STOCKS AND SHARES SERVICES PRIVATE LIMITED B 106000 25.64
16/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI B 54967 96.14
16/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI S 64817 95.51
16/3/2010 531515 Mahan Inds KETAN JAYANT SHAH B 800000 6.34
16/3/2010 531515 Mahan Inds PRANAV GUPTA S 848286 6.32
16/3/2010 532950 Manjushree Techno MPHINITE SOLUTIONS PRIVATE LIMITED B 130000 44.36
16/3/2010 532950 Manjushree Techno SHABANA ASHFAQUE S 135000 44.07
16/3/2010 532553 MSK Projects NEELAKSHI TIKOO B 180369 126.50
16/3/2010 532553 MSK Projects MSK FINANCE LIMITED S 190693 126.50
16/3/2010 513179 National Steel DHARAMPAL SATYAPAL LIMITED B 200000 22.21
16/3/2010 513179 National Steel DHARAMPAL PREMCHAND LTD S 200000 22.21
16/3/2010 511535 NDA Securities PRABHA SOMANI B 27408 15.19
16/3/2010 532912 Net 4 India INDIA MAX INVESTMENT FUND LIMITED B 100000 87.00
16/3/2010 531465 Nouveau Multi TILOTTAMA HOLDINGS PVT.LTD B 93098 109.08
16/3/2010 531465 Nouveau Multi PRIME CAPITAL MARKET LIMITED B 92786 107.91
16/3/2010 531791 Novagold Petro NILESH KRUSHNA PALANDE S 32651 4.35
16/3/2010 526313 Nutech Corp PANKAJ ARORA B 69858 1.27
16/3/2010 526313 Nutech Corp RAJKUMAR A HASIJA S 76000 1.31
16/3/2010 531496 Omkar Overseas GVRS SECURITIES PRIVATE LIMITED B 45000 59.65
16/3/2010 531496 Omkar Overseas AMBIKA SHYAM SHUKLA B 50000 59.75
16/3/2010 531496 Omkar Overseas ARVIND KASHMIRILAL PUNJABI B 66000 60.30
16/3/2010 531496 Omkar Overseas SANTOSH ABHAYRAJ SHUKLA S 45155 59.65
16/3/2010 531496 Omkar Overseas VIJAY VELJIBHAI PADHARIA S 25000 59.65
16/3/2010 531496 Omkar Overseas DINESHKUMAR RAMCHANDRA PANDEY S 50000 59.75
16/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL B 9450 211.90
16/3/2010 512097 Oregon Comm PATEL SHAILESH JIVANLAL S 4950 206.07
16/3/2010 512097 Oregon Comm PRADIPBHAI RAMBHAI PATEL S 7923 212.00
16/3/2010 530071 Parsoli Corp JVS SECURITIES PVT LTD B 169306 18.38
16/3/2010 530923 Passari Cellu ENAAM SECURITIES B 25500 64.08
16/3/2010 530923 Passari Cellu BALWANT SINGH BISHT S 23600 62.67
16/3/2010 590077 Ranklin Sol MORTALA KOTIREDDY S 30000 55.61
16/3/2010 531099 Rubra Med ARUNA DAGA B 35000 18.65
16/3/2010 531099 Rubra Med OMPRAKASH RATANLAL BIYANI B 50000 18.65
16/3/2010 531099 Rubra Med B BALAJI B 36800 18.69
16/3/2010 531099 Rubra Med NIRUPA GUPTA S 151100 18.67
16/3/2010 521206 Samtex Fashions VIRGO IMPEX PVT LTD. B 45000 28.03
16/3/2010 521206 Samtex Fashions EPCOT SECURITIES PRIVATE LIMITED S 45000 28.03
16/3/2010 531781 Sapan Chem ARPITA BINDAL B 43742 5.00
16/3/2010 531781 Sapan Chem NILESH KRUSHNA PALANDE S 132000 5.00
16/3/2010 533056 SARK SYS DINDAYAL SHARMA B 50087 15.41
16/3/2010 532886 SEL Mfg Company TRANS FINANCIAL RESOURCES LIMITED B 125237 74.71
16/3/2010 532886 SEL Mfg Company TRANS FINANCIAL RESOURCES LIMITED S 125237 74.17
16/3/2010 532793 Shree Ashtavina VIJAY CHIMANLAL THAKKAR B 873092 12.68
16/3/2010 531693 Shri Ganesh Spi MOSS TRADERS PVT LTD S 362100 15.59
16/3/2010 530419 Sumedha Fisc SAKET MERCANTILES PVT LTD B 47484 24.26
16/3/2010 530419 Sumedha Fisc SAAKET MERCANTILES PVT LTD S 47484 24.26
16/3/2010 526133 Supertex Inds RAMESH KUMAR MISHRA B 1354044 2.42
16/3/2010 526133 Supertex Inds ABHAY DATTATRAY JAVLEKAR S 494703 2.35
16/3/2010 531102 Surana Corp VIJAYRAJ SURANA B 266000 65.35
16/3/2010 531102 Surana Corp THE INDIAMAN FUND MAURITIUS LIMITED S 266000 65.35
16/3/2010 533170 TAMBOLI CAP MILA JAYDEEP CHAKRABARTY B 55000 42.48
16/3/2010 533170 TAMBOLI CAP MILA JAYDEEP CHAKRABARTY S 55000 41.18
16/3/2010 533164 TEXMO PIPES NIMIT JAYENDRA SHAH B 83087 157.01
16/3/2010 533164 TEXMO PIPES VARDHAMAN INVESTMENT B 190000 155.94
16/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED B 84785 154.56
16/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED B 115697 155.62
16/3/2010 533164 TEXMO PIPES Naman Securities & Finance Pvt. Ltd. B 77828 159.64
16/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. B 155338 156.00
16/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD B 260518 156.62
16/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL B 160469 157.06
16/3/2010 533164 TEXMO PIPES MANSUKH SECURITIES & FINANCE LTD B 76507 156.12
16/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. B 375161 155.82
16/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED B 167537 156.73
16/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED B 103388 155.92
16/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD B 90518 155.40
16/3/2010 533164 TEXMO PIPES MARWADI SHARES AND FINANCE LTD. S 155338 156.01
16/3/2010 533164 TEXMO PIPES CHANDARANA INTERMIDIARY BROKERS PVT LTD S 90518 155.46
16/3/2010 533164 TEXMO PIPES SMART EQUITY BROKERS PRIVATE LIMITED S 167537 156.71
16/3/2010 533164 TEXMO PIPES GENUINE STOCK BROKERS PVT. LTD. S 375161 155.91
16/3/2010 533164 TEXMO PIPES A K G STOCK BROKERS PRIVATE LIMITED S 103388 156.27
16/3/2010 533164 TEXMO PIPES MANSUKH SECURITIES & FINANCE LTD S 76507 156.22
16/3/2010 533164 TEXMO PIPES OPG SECURITIES P LTD S 260518 156.57
16/3/2010 533164 TEXMO PIPES SANJEEV SINGHAL S 160469 157.16
16/3/2010 533164 TEXMO PIPES RKSV SECURITIES INDIA PRIVATE LIMITED S 84785 154.88
16/3/2010 533164 TEXMO PIPES KHUSHBU A NATHWANI S 58071 158.16
16/3/2010 533164 TEXMO PIPES R M SHARES TRADING PRIVATE LIMITED S 115697 155.50
16/3/2010 533164 TEXMO PIPES NIMIT JAYENDRA SHAH S 83087 157.35
16/3/2010 533164 TEXMO PIPES VARDHAMAN INVESTMENT S 190000 155.70
16/3/2010 531658 Trijal Inds HI KLASS TRADING AND INVESTMENT LIMITED B 32201 2.46
16/3/2010 531658 Trijal Inds PRADEEP MAHADEOWAY DANDE S 32201 2.46
16/3/2010 531574 VAS Infra KEKI DINSHAH MEHTA B 68000 50.85
16/3/2010 531574 VAS Infra DARASHAW SECURITIES PRIVATE LIMITED S 68000 50.85
16/3/2010 523724 Vijay Shanti Bld DARASHAW KEKI MEHTA B 75000 35.90
16/3/2010 523724 Vijay Shanti Bld BAMAN KEKI DINSHAH BAMANJI MEHTA B 75000 35.85
16/3/2010 523724 Vijay Shanti Bld KEKI DINSHAH MEHTA B 75000 35.75
16/3/2010 523724 Vijay Shanti Bld DARASHAW SECURITIES PRIVATE LIMITED S 247000 35.84
16/3/2010 530961 Vikas Globalone MOONLITE PETRO PRODUCTS PRIVATE LIMITED B 215000 29.00
16/3/2010 530961 Vikas Globalone EURO GOLD JEWELLERY LIMITED S 215000 29.00
16/3/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE S 550000 28.85
16/3/2010 590032 Zen Tech SUNIDHI SECURITIES & FINANCE LTD. B 172000 199.80
16/3/2010 590032 Zen Tech PIVOTAL SEC P LTD S 172000 199.80
* B - Buy, S - Sell
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
16-MAR-2010,HANUNG,Hanung Toys and Textiles,SPG FINSTOCK PVT LTD,BUY,163506,176.57,-
16-MAR-2010,MSKPROJ,MSK Projects (India) Limi,D A FINVEST PRIVATE LIMITED,BUY,173905,126.60,-
16-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MANISH VRAJLAL SARVAIYA,BUY,152507,128.32,-
16-MAR-2010,PAEL,PAE Limited,RAHUL DOSHI,BUY,50001,46.13,-
16-MAR-2010,SEJALGLASS,Sejal Architectural Glass,TANDON VINOD MURLIDHAR,BUY,169766,68.30,-
16-MAR-2010,SEJALGLASS,Sejal Architectural Glass,TRANSGLOBAL SECURITIES LTD.,BUY,146152,66.36,-
16-MAR-2010,SELMCL,SEL Manufacturing Company,TRANS FINANCIAL RESOURCES LTD,BUY,613402,74.54,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,177158,156.41,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BHAWNA JAIN,BUY,60000,158.80,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BLUE PEACOCK SECURITIES PVT LT,BUY,97000,154.80,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,BUY,77996,158.16,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,83527,155.51,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CPR CAPITAL SERVICES LTD.,BUY,180306,156.59,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEEPAK SHANTILAL CHHEDA,BUY,124866,154.75,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DIPALDEVENDRAKUMARSHAH,BUY,85446,157.18,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,G RAMAKRISHNA,BUY,114000,155.58,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,377389,156.22,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,LAXMI GOVIND KULKARNI,BUY,65000,156.90,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,159250,156.94,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,152829,156.12,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,77749,157.61,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NIMIT JAYENDRA SHAH,BUY,62535,155.67,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PKC STOCK BROKING PRIVATE LIMITED,BUY,320543,153.49,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R APPALA RAJU,BUY,210000,155.98,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,BUY,95044,156.36,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,BUY,134547,155.40,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAHUL DOSHI,BUY,83522,159.80,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAVINDER REDDY NANDI,BUY,45000,152.99,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANJAY BHANWARLAL JAIN,BUY,89440,156.20,-
16-MAR-2010,HANUNG,Hanung Toys and Textiles,SPG FINSTOCK PVT LTD,SELL,2506,176.64,-
16-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MANISH VRAJLAL SARVAIYA,SELL,137507,127.15,-
16-MAR-2010,PAEL,PAE Limited,RAHUL DOSHI,SELL,25010,46.23,-
16-MAR-2010,SEJALGLASS,Sejal Architectural Glass,TANDON VINOD MURLIDHAR,SELL,167766,66.05,-
16-MAR-2010,SEJALGLASS,Sejal Architectural Glass,TRANSGLOBAL SECURITIES LTD.,SELL,146152,66.65,-
16-MAR-2010,SELMCL,SEL Manufacturing Company,CREDO INDIA THEMATIC FUND LIMITED,SELL,400000,73.13,-
16-MAR-2010,SELMCL,SEL Manufacturing Company,TRANS FINANCIAL RESOURCES LTD,SELL,613402,74.38,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,177158,156.32,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BHAWNA JAIN,SELL,40000,154.35,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,BLUE PEACOCK SECURITIES PVT LT,SELL,97000,155.01,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,C D INTEGRATED SERVICES LTD.,SELL,75996,157.82,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,83527,155.59,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,CPR CAPITAL SERVICES LTD.,SELL,180306,156.67,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DEEPAK SHANTILAL CHHEDA,SELL,124866,154.79,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,DIPALDEVENDRAKUMARSHAH,SELL,20446,156.89,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,G RAMAKRISHNA,SELL,114000,155.24,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,377389,156.29,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,LAXMI GOVIND KULKARNI,SELL,65000,154.35,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,159250,157.02,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,152829,156.23,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,73247,156.52,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,NIMIT JAYENDRA SHAH,SELL,62535,156.06,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,PKC STOCK BROKING PRIVATE LIMITED,SELL,320543,153.15,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R APPALA RAJU,SELL,210000,155.36,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R S SINDHU,SELL,95044,156.43,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,R.M. SHARE TRADING PVT LTD,SELL,134547,155.57,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAHUL DOSHI,SELL,69522,159.46,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAVINDER REDDY NANDI,SELL,70000,158.08,-
16-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SANJAY BHANWARLAL JAIN,SELL,89440,156.24,-
16-MAR-2010,TWL,Titagarh Wagons Limited,BLACKSTONE ASIA ADVISORS L.L.C. A/C THE INDIA FUN,SELL,129213,327.30,-
Focused on outsourced software product development services
The company has good track record, except for the past few quarters, and holds good growth potential
Persistent Systems (India), promoted by technocrat, Dr Anand Deshpande, is one of the leading players in outsourced software product development services. The company designs, develops and maintains software systems and solutions, creates new applications and enhance the functionality of its customers' existing software products. Currently, the company is present in the telecom & wireless, life sciences & healthcare and infrastructure & systems space. It has been working on new technologies like cloud computing, analytics, enterprise mobility and enterprise collaboration. Along with services, the company has been acquiring intellectual property (IP) from its customers, sharing revenue with the clients. Currently, this stream contributes to about 7% of the revenue.
As of December 31, 2009, the company had added 251 new customers (net) since April 1, 2007, excluding one-time customers for license sales with a number of active clients at 270 clients. Top client contributed 9.98% and top 10 clients contributed 41.27% of the revenue for the nine months ended December 2009. The repeat business for the company is in and around the 90% levels.
The company had 4,639 employees as of January 2010. It added 430 employees (net) in FY 2010 till January 2010. The company is operating at high offshore levels. The offshore share of revenue is at 89.63% for the quarter ended December 2009 and was at 85.79% for the year ended March 2009. Time & material (T&M) contracts contribute 76% of the revenue, fixed price contributed 17.1%, and licensing products 7% for the nine months ended December 2009. For the year ended March 2009, T&M contracts contributed 80.5% of the revenue, fixed price 14.3%, and licensing products 5.2%.
Geographically, for the nine months ended December 2009, US & Canada contributed 84% of the revenue of the company, Europe contributed 9%, and Asia Pacific (APAC) contributed 7% of revenue. For the year ended March 2009, US & Canada accounted for 87% of the revenue of the company, Europe contributed 9%, and Asia Pacific (APAC) contributed 4%.
As far as industry verticals are concerned, a major portion of the revenue accrues from independent software vendors (ISVs), which contributed 47% of the revenue, telecom contributed 24%, and practices, enterprise & solutions contributed 29% for the nine months ended December 2009.
The issue includes offer for sale of about 12.81 lakh shares by former employees of the company. Of the net proceeds of the issue, about Rs 76.02 crore would be used towards expansion of existing facilities at Nagpur and Hinjewadi, Pune, taking the total capacity at the two locations to 4,200 seats; about Rs 2.96 crore would be used towards fit-outs at the premises leased in SEZ at Hyderabad; and Rs 20.45 crore towards hardware at facilities. Post commissioning, the company would have a seat capacity of about 7,500 seats. It has facilities at Nagpur, Pune, Goa and Hyderabad.
* International Data Corporation (IDC), a market research and analysis firm specializing in information technology, telecommunications and consumer technology markets, forecasts a five-year compound annual growth rate (CAGR) of 14% for research & development/ product engineering (R&D/PE) services, reaching an estimated US$ 65.7 billion by 2013. IDC defines R&D/PE services as the taking over of the R&D of a product in the company's value chain (in part or full) by a third-party services organization.
* Revenues have grown at a fast clip except in the nine months ended December 2009. Revenues reported a compounded annual growth rate (CAGR) of 40% in rupee terms and 38% in US dollar terms for the period FY2006 – 2009. Impacted by the slowdown, the revenues for the nine months period ended December 2009 were down 8.5% in US dollar terms and 3.4% in rupee terms.
* Along with services, the company, with expertise in developing products, is looking at growing its IP. It has been acquiring IP from its clientele and investing in them and selling on a revenue share basis. The share of revenue from IP licensing increased from 1.5% in FY2007 to 7% for the nine months ended December 2009. The margins from this segment are higher than services margins.
* With the sunset clause expiring on March 31, 2011, the tax rate applicable for the company would increase to 20%– 25%, up from the current 6.5%. It would be at 9% for FY2010 and FY2011, and would move up to 20-25% post expiry of the sunset clause in FY2012. The capital expenditure that the company has undertaken is not in SEZ, except for about Rs 2.96 crore at the Hyderabad facility, currently a 200-seater expandable to 1,000 seats. This would still be only about 20% of the business.
* The outsourced product development (OPD) market is very competitive. Competition comes from OPD centric players, divisions of large IT companies (Indian & multinational), offshore providers in other low cost countries. Of the various IT services, the OPD services are highly prone to reduction in spend as companies cut down on launch of new products in times of economic slowdown.
For the nine months ended December 2009, the company reported a dip in revenues of 8.5% in US dollar terms to US$ 89.98 million and 3.4% in rupee terms to Rs 429.41 crore mainly due to slowdown in the global economy. As per the management, the second half of FY2009 and the first half of FY2010 saw the impact of global economic slowdown and cut in billing rates. However, for the quarter ended December 2009, the company reported very good numbers, with sales of Rs 158.36 crore, operating profit margin of 24.7%, and net profit of Rs 37.01 crore (46% of the nine months net profit).
For FY2009, the company reported forex loss of Rs 87.40 crore, which included MTM losses on hedges of Rs 16.27 crore, forex loss on cancellation of forward contracts of Rs 25.87 crore, and forex loss from lower realisation of Rs 45.26 crore. The company has changed its hedging policy and is now taking hedges of about 40-60% of the net receivables for 12 months forward. It has hedges of US$ 77.75 million at Rs 48.5/US$.
At the price band of Rs 290 – Rs 310 and consolidated TTM EPS of Rs 24.7, PE works out to 11.7 – 12.6 times. Excluding MTM losses and forex loss on cancellation of forward contracts of Rs 18.87 crore, the consolidated TTM EPS moves up to Rs 29.4 and PE works out to 9.9 – 10.5 times. There is no direct comparable company. But Mindtree, which has 45% of revenue contribution from product engineering services, is trading at TTM PE of 12.2 times. Geometric, which has 37% of its revenue accruing from OPD, is trading at a consolidated TTM PE of 24 times. On nine-month annualized basis, it is trading at 8.4 times.
The key benchmark indices hit their highest level in nearly two months in a late surge as encouraging advance tax figures of top Indian firms for Q4 March 2010 indicated better fourth quarter results. Higher European stocks aided the rally on the domestic bourses. Metal, capital goods, auto and consumer durables stocks rose. Two index heavyweights Reliance Industries and L&T surged. The market breadth was strong. The BSE 30-share Sensex was provisionally up 231.91 points or 1.35%, up close to 245 points from the day's low and off close to 20 points from the day's high.
After an initial rise the market pared gains in morning trade as some Asian markets reversed early gains. The market moved between positive and negative terrain near the flat line in mid-morning trade. The market nudged higher again in early afternoon trade. Stocks extended gains in afternoon trade. The market hit its highest level in nearly two months in mid-afternoon trade. It extended gains in late trade.
The stock exchanges have revised the settlement schedule due to a bank holiday today, 16 March 2010 on account of Gudi Padwa, the first day of the Marathi New Year. As a result, investors were not allowed to sell shares today which they had bought in the cash market on Monday, 15 March 2010.
The Q4 March 2010 advance tax payment numbers of top Indian firms were encouraging. Reliance Industries has paid Rs 770 crore as advance tax for the March quarter compared with Rs 365 crore a year ago. Infosys' tax outgo has doubled to Rs 250 crore from Rs 125 crore. Tata Consultancy Services paid Rs 178 crore, compared from Rs 53 crore earlier. State-run Union Bank of India paid Rs 185 crore compared with Rs 253 crore a year ago. ICICI Bank's Q3 advance tax stood at Rs 350 crore versus Rs 250 crore a year ago. Asian Paints paid Rs 60 crore, versus Rs 43 crore year earlier.
State Bank of India has paid Rs 1857 crore verses Rs 1810. HDFC paid Rs 280 crore, unchanged from a year earlier. Tata Motors paid Rs 115 crore versus Nil a year ago. Bank of Baroda paid Rs 300 crore verses Rs 280. Zee Entertainment Enterprises paid Rs 97 crore versus Rs 109. Tata Steel paid Rs 513 crore versus Rs 406 crore. L&T paid Rs 270 crore versus Rs 275 crore. Bajaj Auto paid Rs 177 crore versus Rs 60 crore. M&M paid Rs 235 crore versus nil a year earlier.
Cement maker ACC paid Rs 330 crore compared to Rs 340 crore a year ago. Ambuja Cement paid Rs 120 crore, compared with Rs 125 crore a year ago. Aditya Birla Group firm Grasim Industries paid Rs 216 crore as advance tax in the period under review, as compared to Rs 65 crore a year ago. Life Insurance Corp of India (LIC) has paid Rs 864 crore as advance tax for the March quarter, compared with Rs 810 crore year ago.
On the macro front, the headline inflation topped expectations and came within touching distance of double digits in February 2010, making a rate increase by the Reserve Bank all but inevitable at its scheduled April 2010 policy review. Annual wholesale price inflation accelerated to 9.89% in February, the highest since October 2008 and well above the Reserve Bank of India's end-March projection of 8.5% and the 8.56% January reading.
The inflation data comes on the heels of a 16.7% annual jump in industrial output in January, with the unexpectedly strong economic pickup also backing the case for the central bank to raise policy rates by at least 25 basis points. The December inflation figure was revised upwards to 8.1% from 7.3%. Rising inflation and the government's plan to borrow a record $100 billion in the fiscal year that starts 1 April 2010, most of which is expected in the first half, have weighed on bond prices.
The borrowing plan complicates the central bank's job as raising rates aggressively would also push up borrowing costs of the government.
India would be only the second Group of 20 country, after Australia, to raise interest rates as the global economy recovers from the financial crisis.
The high inflation was mainly due to the continued rise in food prices, which climbed 17.8% from a year earlier in February and central bank deputy governor Shyamala Gopinath said price growth should moderate over time. Inflation in manufacturing accelerated to 7.42% in February from 6.55% in January, indicating that inflation has now spilt over to the broader economy.
Coming back to stocks, equities have witnessed a good post-Budget rally driven by sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 8847.36 crore this month, till 15 March 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.
Europe stocks rose on Tuesday with markets awaiting euro zone inflation and the German ZEW survey of investor confidence, along with a decision on interest rates from the Federal Reserve later. The key benchmark indices in France, Germany and UK rose by between 0.75% to 0.89%.
Asian shares turned mixed after a firm start on Tuesday ahead of a Federal Reserve policy meeting later in the global day and the Bank of Japan (BoJ) policy decision on Wednesday, 17 March 2010. The key benchmark indices in Japan, Hong Kong and South Korea fell by between 0.09% to 0.28%. But, the key benchmark indices in China, Singapore and Taiwan rose by between 0.12% to 0.80%.
The BoJ has maintained its benchmark unsecured overnight call loan rate at 0.1% since December 2008 -- the same month Fed policy makers cut their federal-funds rate target to a range of 0% to 0.25%. Japanese central bankers are expected to discuss additional liquidity-boosting steps at their two-day policy board meeting, which started Tuesday. They will likely focus on a proposal to double the scale of a lending facility introduced in December, according to recent media reports.
It is widely expected that the US Federal Reserve will keep the fed funds rate, its key lending rate, at a historic low near zero when it meets on Tuesday, 16 March 2010. That means investors and analysts will again pore over the economic assessment statement the Fed releases. They will be looking for changes to the Fed's wording and its members' voting patterns to get a sense of when rates might go up.
It could take several months of solid, significant economic growth before the Fed starts to tinker with the language of its statement or interest rates. Consistent job growth is probably the single biggest factor the Fed will look at when determining when to considering raising rates.
Trading in US index futures indicated that the Dow could rise 18 points at the opening bell on Tuesday, 16 March 2010.
After being down all day, the Dow Jones and S&P eked out some gains on Monday, 15 March 2010 led by Wal-Mart after Citigroup upgraded the stock to buy & raised the price target. Stocks had struggled throughout the session as the dollar gained after a warning from Moody's on US and other nations with triple A debt ratings. Moody's said its ratings remain intact but warned that credit risks have grown. There were also worries about tightening in China. The Dow Jones industrial average rose 17.46 points, or 0.16% to end at 10,642.15. The Standard & Poor's 500 Index edged up 0.52 point, or 0.05% to end at 1,150.51. The Nasdaq Composite Index lost 5.45 points, or 0.23% at 2,362.21.
Global economic recovery will be stronger than previously estimated this year, helped by robust growth in China and India, the OECD's Secretary General said on Monday.
Close home, the BSE 30-share Sensex was up 231.91 points or 1.35% to 17,396.90 as per provisional figures. The barometer index rose 251.56 points at the high of 17,416.55 in late trade, its highest since 21 January 2010. The Sensex fell 14.93 points at the day's low of 17,150.06 in morning trade.
The S&P CNX Nifty was up 73.15 points or 1.43% at 5202.05 as per provisional figures. It hit the day's high of 5209.25 in late trade, its highest since 21 January 2010.
The BSE Mid-Cap index rose 1.08% and the BSE Small-Cap index rose 1.27%.
BSE clocked a turnover of Rs 3729 crore, higher than Rs 3408.08 crore on Monday, 15 March 2010.
The market breadth indicating the overall health of the market was strong. On BSE, 1777 shares advanced as compared with 1057 that declined. A total of 75 shares remained unchanged.
Among the 30-member Sensex pack, 23 rose while the rest fell.
Index heavyweight Reliance Industries (RIL) rose 3.68%, extending Monday's 0.64% gains. As per the market buzz, RIL's Q4 advance tax surged to Rs 770 crore in Q4 March 2010 from Rs Rs 365 crore a year ago.
Reliance Industries on Sunday announced a sports and entertainment joint venture with IMG Worldwide, a global leader in sports marketing and management. The equal venture, IMG Reliance, will set up modern infrastructure and coaching facilities for sports and create and operate sports and entertainment assets including celebrity management.
Consumer durables stocks rose on hopes rise in disposable income following widening of tax slabs in the Union Budget 2010-11 may boost sales. Titan Industries, Videocon Industries, Blue Star, Lloyd Electric, Rajesh Exports rose by between 0.26% to 3.01%.
Most auto stocks rose on higher advance tax payment in the fourth installment. India's largest tractor maker by sales Mahindra & Mahindra (M&M) rose 3.13%. The company paid Rs 235 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.
India's largest commercial vehicle maker by sales Tata Motors' rose 2.26%, extending Monday's 0.91% gains after group global sales rose 59% in February from a year earlier, the company said in a statement on Monday.
India's largest car maker by sales Maruti Suzuki India rose 1.03% on bargain hunting after falling in the last four days on fears increase in competition may dent sales. Last week Ford India entered the small car market with 'Figo'. Maruti Suzuki India, last week said that Japanese auto giant Nissan has placed orders for 35,000 units of its small car A- Star for 2010-11 to sell it in the European market. Nissan sources the A-Star from Maruti's Manesar facility and sells it in the European market as 'Pixo'.
India's largest bike maker by sales Hero Honda Motors was flat. 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.
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. 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.
India's largest engineering & construction firm by sales Larsen & Toubro (L&T) rose 3.52%. The company on Monday said that it won orders worth Rs 2000 crore. L&T's advance tax payment fell marginally to Rs 270 crore in Q4 March 2010 from Rs 275 crore a year earlier.
Among other capital goods stocks, ABB, Bharat Heavy Electricals, BEML, SKF India and Crompton Greaves rose by between 0.28% to 1.85%.
Metal stocks rose on strong domestic demand. Steel Authority of India, Sterlite Industries, JSW Steel, Hindalco Industries rose by between 0.1% to 2.69%.
India's largest steel maker by sales Tata Steel rose 3.35%, extending Monday's 0.42% gains. Its Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.
Gujarat NRE Coke gained 1.08%, after one of the promoter group companies revoked a substantial portion of the pledged shares
IVRCL Infrastructures & Projects advanced 3.40%, as investors scrambled to accumulate the stock ahead of the record date for a liberal 1:1 bonus issue.
NIIT Technologies rose 1.06%, after the company said it will implement a cargo ground handling solution for PT JAS in Indonesia.
Nucleus Software Exports gained 1.84%, after the company secured an export order for one its software products for an undisclosed sum.
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