| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Pradip Overseas | 110 | 17 to 18 |
| Persistent Sys. | 310 | 152 to 155 |
| Shree Ganesh Jewellery | 260 | AT PAR |
| Infrasoft Technology | 137 to 145 | 30 to 32 |
| Goenka Diamond & Jewellery | 135 | Discount |
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Tuesday, March 30, 2010
Grey Market Premiums - March 30 2010
Nifty April 2010 futures at premium
Turnover rises
Nifty April 2010 futures were at 5,265.50, at a premium of 3.05 points over spot closing of 5,262.45. Turnover in NSE's futures & options (F&O) segment increased to Rs 60,233.04 crore from Rs 57,047.03 crore on Monday, 29 March 2010.
Reliance Industries April 2010 futures were at premium at 1092 compared to the spot closing of 1085.
Sesa Goa April 2010 futures were at discount at 450.90 compared to the spot closing of 457.55.
Tata Motors April 2010 futures were at discount at 739.95 compared to the spot closing of 757.15.
In the cash market, the S&P CNX Nifty fell 40.40 points or 0.76% at 5,262.45.
Stocks fly across Asia
Crude rises near $83 as risk appetite continues to pep sentiments up
Stocks were flying across Asia today bearing a late wave of sell off in India as the energy and resource linked counters drove the sentiments up following the continued spell of weakness in the US dollar. Oil prices rose to near $83 a barrel Tuesday in Asia, extending gains from the previous day and the other commodities also garnered impressive gains. The Dow Jones industrial average rose 0.4% to its highest level since September 2008 yesterday. The euro rose to $1.3538 on Tuesday from $1.3476 yesterday.
The stock market in Japan ended in positive territory after witnessing selling pressure in the last session. Strong buying interest drove the Nikkei 225 index above the psychological 11,000 mark for the first time since October 2008, amid increasing optimism about global economic recovery. The benchmark Nikkei 225 Index rose 110.67 points, or 1.0%, to 11,097, while the broader Topix index of all First Section issues rose 13.45 points, or 1.4%, to 980.
On the economic front, a report released by the Ministry of Internal Affairs and Communications revealed that unemployment rate in the country held steady in February at a seasonally adjusted 4.9%. The report noted that the number of employed persons in February was 61.85 million, a decrease of 800 thousand or 1.3% from the previous year. The number of unemployed persons in February was 3.24 million, an increase of 250 thousand or 8.4% from the previous year. The job-to-applicant ratio was 0.47, in line with expectations after showing 0.46 in January. Separately, the Ministry of Economy, Trade and Industry revealed that an index measuring industrial production in Japan was down a seasonally adjusted 0.9% in February compared to the previous month, posting a score of 91.3.
Australia's S&P/ASX 200 Index gained 0.4% to 4,916.80 at the close of trading in Sydney as rising commodity prices assisted mining majors. Copper surged to an 11-week high in New York yesterday though it witnessed some selling at the higher levels today. However, the New Zealand equities slipped a little today, despite a solid gain for top stock Telecom. The benchmark NZX-50 index ended down 1.5 points to 3249.65, after the index climbed yesterday to its highest close for 10 weeks.
Hong Kong stocks hit their highest close in nearly two weeks, led by financial, consumer and airline counters. The Hang Seng Index ended up 0.65% at 21,374.79. Hong Kong's economy is expected grow by 4.0 to 5.0 percent in 2010, the city's financial secretary John Tsang said in his annual budget speech today. China stocks also edged up to two-month high. The mainland's key stock index closed up 0.15% to 3,128.46 points, edging to a fresh two-month closing high after a rally on Monday on news of an imminent launch of stock index futures trade.
In Mumbai, the benchmark BSESENSEX failed to hold to initial gains and turned sharply lower after the European indices opined on a flat note. Bulk of the selling pressure was led due to profit selling after the Benchmarks hit fresh 52-week highs earlier in the day as investors eyed positive global cues. However, technology, select metal and power stocks along with Reliance Industries were under pressure. The 30-share BSE Sensex closed at 17590.17, down 121.18 points or 0.68%.
Benchmark crude for May delivery hit a high of $82.74 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $2.17 to settle at $82.17 on Tuesday. Crude prices have been buoyed by a yearlong rally of global stock markets. Oil traders often look to equity markets as a measure of overall investor sentiment. However, there has been a sell off from these levels and the prices were last seen hovering at $82.09, down 8 cents from the previous close.
IL&FS Transportation settles at 6% premium
At Rs Rs 273.75 on BSE
Shares of IL&FS Transportation Networks settled at Rs 273.75 on BSE, at a premium of 6.10% over the initial public offer price of Rs 258.
The stock debuted at Rs 287, a premium of 11.2% over the initial public offer (IPO) price. On BSE, 1.65 crore shares were traded on the counter. The stock hit a high of Rs 295 and a low of Rs 270.10.
The current price of Rs 273.75 discounts the year ended March 2009 standalone EPS of Rs 2.50 by a PE multiple of 109.5.
IL&FS Transportation Networks (ITNL) had priced the IPO at Rs 258, at the higher end of price band of Rs 242-258 per share price band. The public offer was subscribed 33.42 times. The IPO got bids for 79.26 crore shares as against 2.37 crore shares on offer. The issue remained open between 11 and 15 March 2010.
Category wise data showed that the qualified institutional buyers portion was subscribed 52.60 times, non institutional investors by 39.39 times, and retail individual investors by 4.56 times.
The offer consisted of a fresh issue of equity shares by the company and an offer for sale of 42.78 lakh shares by Trinity Capital.
On 11 March 2010, the company raised about Rs 126 crore by allotting shares to several anchor investors at Rs 258 per share. The anchor investors include Reliance Capital Trustee Company, Axis Mutual Fund, Sundaram BNP Paribas Mutual Fund, Royal Bank of Scotland, HDFC Trustee Company, JF India Fund, Nomura Mauritius, Ward Ferry Management and Jupiter South Asia Investment Company.
The company intends to use the IPO proceeds for repayment of loan and to support its growth plans. The company has debt totaling Rs 1000 crore.
IL&FS Transportation Networks is one of the leading private sector BOT (build, operate and transfer) road operators in India. The company is engaged in the development, operation and maintenance of national and state highways, roads, flyovers and bridges in various parts of India.
The company has a diverse project portfolio, consisting of 17 road projects comprising approximately 9,397 lane kilometers (km), which includes 4,086 lane km under operation and maintenance and 5,311 lane km under development.
IL&FS Transportation Networks reported a net profit of Rs 42.07 crore on sales of Rs 170.67 crore in the year ended March 2009. On a consolidated basis, the net profit was reported at Rs 27.88 crore on sales of Rs 1252.59 crore in the year ended March 2009.
Hardening rupee snaps 4-day straight gains
Today's major news
The Reserve Bank of India revives foreign currency convertible bond buyback scheme for three months
IL&FS Transportation lists at premium
The Securities and Exchange Board of India may get power to monitor the use of initial public offer funds
Click here for more stories
Global signals
As of writing the European markets were trading flat with London Stock Exchange’s FTSE 100 trading 0.07% lower.
All the major Asian indices—from Kospi to Nikkei to Hang Seng—closed higher except the Sensex that ended 0.68% down. SGX Nifty closed 62 points lower.
US stock futures point to a higher start for Wall Street, as Apple and Verizon stocks are in focus.
Indian indices
On speculation that the hardening of the rupee could hit the revenues of information technology (IT) companies, the IT stocks went down and along went the market breaching its four-day-long gains.
On mildly tepid global equities, the Sensex opened seven points down, but turned up, and barely half hour into the trade touched the day’s high—72 points higher than its previous closing. Though the index traded positive in the first half it kept inching down. In the second half, the appreciation in the Indian rupee began to play out pressuring IT stocks and pushed the market 153 points down. At finishing line the Sensex quoted at 17590, 121 points lower. The Nifty closed the session 40 points lower at 5262.
Market sentiment
Advancing shares outnumbered trailing ones. On the BSE, 1,691 stocks advanced against 1,098 trailed. Ninety four stocks closed unchanged.
Sectoral & stock screening
Stronger rupee continued to hit IT counter with BSE IT down by 2.19%. BSE Tech, down 1.62%, was second from the bottom. BSE Realty posted gains of 1.42% followed by BSE PSU that surged 0.80%.
On stocks’ front, Hindustan Copper was the star stock of the day posting gains of 8.25% followed by Corporation Bank that surged 7.88% and Bank of India that rose 5.28%. Among losers, Educomp Solutions slid the most by 3.27%, followed by Shriram Transport that fell 3.21% and Lupin that shed 3.10%.
Viewing volumes
Steel maker Ispat Industries was the most actively traded share with over 0.63 crore shares changing hands on the BSE followed by wind turbine maker Suzlon Energy (0.42 crore shares), public sector undertaking NMDC (0.42 crore shares), India’s second largest realty major Unitech (0.35 crore shares) and Industrial finance company IFCI (0.33 crore shares).
BSE Bulk Deals to Watch March 30 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/3/2010 530093 Ace India SHILPA BHATIA B 16867 33.23
30/3/2010 532166 Alka Securities HARSHVARDHAN JAIN B 537281 5.76
30/3/2010 532166 Alka Securities HARSHVARDHAN JAIN S 604284 5.53
30/3/2010 590006 Amrutanjan Health SANJAY SINGHAL & SONS (HUF) B 15446 927.67
30/3/2010 590006 Amrutanjan Health NILE ENTERPRISES PVT LTD B 38929 883.75
30/3/2010 590006 Amrutanjan Health SANJAY SINGHAL & SONS (HUF) S 15446 929.69
30/3/2010 590006 Amrutanjan Health ASHUTOSH OMPRAKASH SANGHAI S 31021 883.17
30/3/2010 532870 Ankit Metal JIGNESHBHAI HIRALAL SHAH B 330000 29.50
30/3/2010 511664 BGIL Films VIJAYUDAYKUMAR UDANI B 92664 14.60
30/3/2010 511664 BGIL Films UTTAM GOODS AND SERVICES PRIVATE LIMITED S 60000 14.61
30/3/2010 511607 Birla Shloka SARSWATI VINCOM LTD B 85000 70.00
30/3/2010 511607 Birla Shloka PUSHKAR BANIJYA LIMITED S 81855 69.98
30/3/2010 531194 Brahmaputra Infra REMCOM SALES SERVICES PVT LTD B 40000 102.15
30/3/2010 500078 Camphor & Allied ASHOK KUMAR BILGAIYAN B 38321 105.38
30/3/2010 500078 Camphor & Allied ASHOK KUMAR BILGAIYAN S 38321 107.95
30/3/2010 500083 Century Extr BHARAT SHANKAR PHAPALE B 319128 10.89
30/3/2010 532413 Cerebra Integ PALLAVI MANOJ DESAI B 100000 16.80
30/3/2010 532413 Cerebra Integ aarrkays energy systems pvt ltd S 182631 16.62
30/3/2010 531337 Channel Guide LIONINE PACKAGING PVT LTD S 31000 12.20
30/3/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE B 1250000 8.62
30/3/2010 533026 Chemcel Bio NARENDRA PANWAR S 150000 8.59
30/3/2010 533026 Chemcel Bio ASHOK KUMAR S 150000 8.59
30/3/2010 533026 Chemcel Bio REKHA BHANDARI S 536201 8.69
30/3/2010 533026 Chemcel Bio RAJENDRA BHAIYA S 200000 8.55
30/3/2010 531358 Choice Intl DUKE PUBLISHERS PRIVATE LIMITED S 37692 94.86
30/3/2010 531358 Choice Intl RAJKUMAR SARAF S 37461 95.29
30/3/2010 500132 Empee Sugars AMBIKA SHYAM SHUKLA S 279710 29.23
30/3/2010 504351 Empower Inds SHASHIKANT S PAWAR B 69377 4.65
30/3/2010 504351 Empower Inds RIZWAN AHMEDJAMILAHMED KHAN B 90000 4.65
30/3/2010 504351 Empower Inds HEMANSHU GHANSHYAMDAS KARANJAWALA S 62500 4.65
30/3/2010 504351 Empower Inds KIRAN MULJI SHAH HUF S 75000 4.65
30/3/2010 532787 Ess Dee Alum GANDIV INVESTMENT PVT. LTD. B 695140 361.79
30/3/2010 532787 Ess Dee Alum BHARAT JAYANTILAL PATEL S 713624 361.61
30/3/2010 514358 Everlon Syn MANOJ ARVINDLAL GANDHI B 86000 10.81
30/3/2010 514358 Everlon Syn ALPESH ARVINDLAL GANDHI B 54000 10.78
30/3/2010 514358 Everlon Syn NILESHDHIRAJLAL SHAH S 142500 10.80
30/3/2010 513059 GS Auto PRASHANT MAHADEV KAMBLE B 65273 45.36
30/3/2010 513059 GS Auto SECUROCROP SECURITIES INDIA PRIVATE LIMTED B 85000 44.20
30/3/2010 513059 GS Auto ASHWIN JAMNUDAS MERCHANT B 54500 44.55
30/3/2010 513059 GS Auto RITU MERCANTILES PVT LTD S 47885 44.20
30/3/2010 532951 GSS America BHARGAV MAREPALLY B 250000 298.00
30/3/2010 532951 GSS America RAMESH VENKATA BABU YERRAMSETTI S 250000 298.00
30/3/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED B 45070 13.33
30/3/2010 511682 IFL Promoters DMC INTERNATIONAL LIMITED B 30981 13.24
30/3/2010 511682 IFL Promoters DMC INTERNATIONAL LTD B 20650 13.13
30/3/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED S 45070 13.17
30/3/2010 511682 IFL Promoters SHIVCHARAN DASS MITTAL S 40000 13.35
30/3/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 15650 13.23
30/3/2010 531025 Inca Finlease ANISHA KUMARI S 57385 97.00
30/3/2010 590065 India Motor GIRISH ISHWARDAS MANGLANI B 25200 440.70
30/3/2010 590065 India Motor GIRISH ISHWARDAS MANGLANI S 25200 424.67
30/3/2010 524400 Ishita Drugs STATUS EQUITY AND FINANCE PVT B 15985 18.37
30/3/2010 531339 Jaihind Proj DCOM SYSTEMS LIMITED B 100000 195.00
30/3/2010 531339 Jaihind Proj GAURAV PRAKASHBHAI HINDUJA S 100000 195.00
30/3/2010 520051 Jamna Auto PRIMUS REAL ESTATES PVT LTD B 150000 83.50
30/3/2010 531550 Jhaveri Cred KAMLESHJ JHAVERI B 320000 5.51
30/3/2010 531550 Jhaveri Cred KIRAN SINGHAL S 320000 5.51
30/3/2010 506522 JL Morison SURYAKANT DALMIA B 21672 406.19
30/3/2010 506522 JL Morison RATNABALI CAPITAL MARKETS LIMITED S 21885 406.22
30/3/2010 531784 Kadamb Constr DOLLY GUPTA S 100000 50.33
30/3/2010 531784 Kadamb Constr HARSH GUPTA S 100000 50.21
30/3/2010 531784 Kadamb Constr RAJAT GUPTA S 100000 50.01
30/3/2010 531784 Kadamb Constr RAMESH KUMAR GUPTA S 100000 50.00
30/3/2010 531784 Kadamb Constr POONAM GUPTA S 100000 50.00
30/3/2010 530955 Kailash Ficom VIJAYPATH TRADECOM PRIVATE LIMITED B 100000 32.15
30/3/2010 530955 Kailash Ficom VISHAL INFORMATION TECHNOLOGIES LTD B 100000 32.15
30/3/2010 530955 Kailash Ficom PRIME DPRIME DYES & CHEMICALS CO.PVT. LTD B 100000 32.15
30/3/2010 530955 Kailash Ficom BIKASH SUREKA B 60000 32.15
30/3/2010 530955 Kailash Ficom RATAN LAL B 71460 32.15
30/3/2010 530955 Kailash Ficom RISHI KUMAR JAIN S 70000 32.15
30/3/2010 530955 Kailash Ficom SREE RAM PLYWOOD MFG COMPANY PRIVATE LIMITED S 53500 32.15
30/3/2010 530955 Kailash Ficom MEGAPODE VYAPAAR PVT LTD S 90000 32.15
30/3/2010 531602 Koffee Break SHIKHA PARIMAL MEHTA B 440000 1.49
30/3/2010 509011 Livingroom Life BANOOBAIT NAGREE S 31550 32.00
30/3/2010 509011 Livingroom Life TURABALICADER BHAI NAGREE S 8500 33.00
30/3/2010 500254 Lloyds Steel PNV ENTERPRISES PVT LTD B 2000000 14.50
30/3/2010 500254 Lloyds Steel BAIJNATH MANIRAM S 2000000 14.50
30/3/2010 526045 Luminaire Tech SANYEI CORPORATION LIMITED S 400000 5.15
30/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI B 65134 94.54
30/3/2010 514450 Mahalaxmi Rub MUKESH KUSHIRAM WADHWANI S 47478 95.37
30/3/2010 531515 Mahan Inds JIGNESH CHANDRAKANT SHAH S 392200 5.72
30/3/2010 502250 Marathwada Refrac ROHINI ENTERPRISES B 6500 273.60
30/3/2010 502250 Marathwada Refrac AVANTI ENTERPRISES B 5000 273.89
30/3/2010 502250 Marathwada Refrac VIKAS RASTOGI S 9600 273.62
30/3/2010 590111 MASTER VIJAY KUMAR TUMMALA B 32517 36.92
30/3/2010 590111 MASTER VENMKATADURGA NAGESWARARAO ATLURI S 26600 36.73
30/3/2010 590060 MK Exim NAVIN CHANDRAMANILAL SHETH B 21700 26.53
30/3/2010 532553 MSK Projects GENUINE STOCK BROKERS PVT. LTD. B 140977 162.01
30/3/2010 532553 MSK Projects SMART EQUITY BROKERS PRIVATE LIMITED B 166220 161.99
30/3/2010 532553 MSK Projects TRANSGLOBAL SECURITIES LTD. B 124338 160.87
30/3/2010 532553 MSK Projects MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 121972 161.95
30/3/2010 532553 MSK Projects SANJAY SINGHAL & SONS (HUF) B 117147 160.73
30/3/2010 532553 MSK Projects AJAY DILKUSH SARUPRIA B 200000 163.22
30/3/2010 532553 MSK Projects GENUINE STOCK BROKERS PVT. LTD. S 140977 161.99
30/3/2010 532553 MSK Projects SMART EQUITY BROKERS PRIVATE LIMITED S 166220 162.04
30/3/2010 532553 MSK Projects TRANSGLOBAL SECURITIES LTD. S 124338 161.07
30/3/2010 532553 MSK Projects MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 121972 161.94
30/3/2010 532553 MSK Projects SANJAY SINGHAL & SONS (HUF) S 117147 161.07
30/3/2010 524654 Natural Cap PALEPUSADHANA RAO S 45000 40.11
30/3/2010 511523 Niyati Inds VEENABEN PRAKASHBHAI SHAH S 225000 0.60
30/3/2010 531465 Nouveau Multi AVISHEK BOSE B 93097 77.52
30/3/2010 531465 Nouveau Multi DHRUVA NARAYAN JHA B 97350 77.54
30/3/2010 531465 Nouveau Multi PRIME CAPITAL MARKET LIMITED S 151762 77.52
30/3/2010 531465 Nouveau Multi MACRO EQUICOM S 100000 77.55
30/3/2010 530127 NPR Finance TAMAL STATIONERS PVT. LTD B 80000 11.03
30/3/2010 530127 NPR Finance SILVA COMPUTECH PVT. LTD. B 93000 11.00
30/3/2010 530127 NPR Finance E.I. INVESTMENTS PVT. LTD B 93000 11.05
30/3/2010 530127 NPR Finance ACME CREDIT PVT LTD. S 276000 11.02
30/3/2010 531496 Omkar Overseas SUDHA ARVIND PUNJABI B 45000 68.10
30/3/2010 531496 Omkar Overseas ARVIND KASHMIRILAL PUNJABI S 39530 68.00
30/3/2010 512097 Oregon Comm KRUPA SANJAY SONI B 46077 201.57
30/3/2010 512097 Oregon Comm ASHLESH GUNVANTBHAI SHAH B 17800 200.00
30/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED B 5350 205.00
30/3/2010 512097 Oregon Comm KRUPA SANJAY SONI S 15646 200.53
30/3/2010 512097 Oregon Comm KRUPA SANJAY SONI S 7957 200.85
30/3/2010 512097 Oregon Comm JIGESH AMRUTLAL HIRANI S 5000 208.50
30/3/2010 512097 Oregon Comm ASHLESH GUNVANTBHAI SHAH S 7425 208.17
30/3/2010 512097 Oregon Comm NIMAI AGENCIES PRIVATE LIMITED S 13000 190.96
30/3/2010 523483 Pacific Inds YOGENDRA KUMAR BOHRA B 7002 293.81
30/3/2010 523483 Pacific Inds YOGENDRA KUMAR BOHRA S 7002 284.64
30/3/2010 570002 PANTALBNDVR PANTALOON INDUSTRIES LIMITED B 300000 254.00
30/3/2010 570002 PANTALBNDVR P F H ENTERTAINMENT LTD S 300000 254.00
30/3/2010 531467 Polypro Fibrils NAMRATA KUNJAN DELIWALA B 50000 31.60
30/3/2010 531467 Polypro Fibrils FOREVER MERCHANTS PRIVATE LIMITED B 125000 31.60
30/3/2010 531467 Polypro Fibrils STATUS EQUITY AND FINANCE PVT S 223300 31.60
30/3/2010 531688 Prithvi Soft MEENA CHANDAK B 33008 18.20
30/3/2010 531688 Prithvi Soft SUGAL & DAMANI PRO ACCOUNT S 46009 18.09
30/3/2010 511652 Ram Kaashyap BAKUL RAMNIKLAL PAREKH B 50000 11.95
30/3/2010 511652 Ram Kaashyap TRUPTI ARUN MANDAVIYA S 50000 11.95
30/3/2010 590077 Ranklin Sol RAMESH KUMAR TUMMAPALA B 37958 55.54
30/3/2010 590077 Ranklin Sol MANIKYALA RAOVURA S 32000 55.50
30/3/2010 526407 Ritesh Prop GAJRIAJAYNA PRECISION IND PLTD B 157960 15.59
30/3/2010 526407 Ritesh Prop VENUS INFOSOFT PVT LTD B 158620 15.77
30/3/2010 526407 Ritesh Prop GAJRIAJAYNA PRECISION IND PLTD S 157960 15.77
30/3/2010 526407 Ritesh Prop PREMIUM HOSPIALITY SERVICES (P) LTD S 146360 15.61
30/3/2010 512359 Rotam Comm NIMAI AGENCIES PRIVATE LIMITED B 9500 139.84
30/3/2010 512359 Rotam Comm J M SONI CONSULTANCY S 8708 138.89
30/3/2010 531099 Rubra Med KISHORE KUMAR T B 97900 19.30
30/3/2010 531099 Rubra Med NARENDER KUMAR GUPTA S 70000 19.30
30/3/2010 531099 Rubra Med NIRUPA GUPTA S 30000 19.30
30/3/2010 533056 SARK SYS SUSHMA KARWA B 50000 18.70
30/3/2010 533056 SARK SYS NEELAM GOYAL B 60000 19.60
30/3/2010 533056 SARK SYS MIATRU AGRO MARKETING PRIVATE LIMITED B 80000 19.47
30/3/2010 533056 SARK SYS TANMOY GANGULY B 50000 19.60
30/3/2010 533056 SARK SYS MADHU JAIN B 50000 19.60
30/3/2010 533056 SARK SYS MVM SECURITIES PVT LTD B 100000 19.60
30/3/2010 533056 SARK SYS SANJEET KUMAR CHOURASIA B 120900 19.60
30/3/2010 533056 SARK SYS SANJEET KUMAR CHOURASIA B 48900 19.60
30/3/2010 533056 SARK SYS SATELLITE EXIM PRIVATE LIMITED B 86850 19.43
30/3/2010 533056 SARK SYS SANJEET KUMAR CHOURASIA B 150000 19.60
30/3/2010 533056 SARK SYS MVM SECURITIES PVT LTD S 100000 18.68
30/3/2010 533056 SARK SYS SOUTH ASIAN REGIONAL APEX FUND S 1050000 19.61
30/3/2010 526479 SKY Inds VIJAYJAMNA DAS VORA B 47605 83.05
30/3/2010 526479 SKY Inds VIJAYJAMNADAS VORA B 76000 83.08
30/3/2010 526479 SKY Inds KAN SINGH RATHORE S 40000 83.18
30/3/2010 526479 SKY Inds JASHWANT P MAKWANA HUF S 99450 83.12
30/3/2010 526479 SKY Inds VIJAYJAMNADAS VORA S 19927 85.11
30/3/2010 512413 Spectacle Inds KISHORBHAI BALUBHAI CHAUHAN S 271581 110.26
30/3/2010 521113 Suditi Inds KISHORILAL AGARWAL PAWAN B 150000 5.85
30/3/2010 521113 Suditi Inds DHEERAJ KUMAR LOHIA B 90600 5.85
30/3/2010 521113 Suditi Inds MAHESH RAMBALLABH GOENKA S 240000 5.85
30/3/2010 522087 Sulzer India FINQUEST FINANCIAL SOLUTIONS PVT. LTD. B 34570 1223.28
30/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. B 161212 133.28
30/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. B 157545 133.01
30/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED B 90702 132.98
30/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD B 108152 133.87
30/3/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. S 161212 133.34
30/3/2010 533157 SYNCOM HEAL TRANSGLOBAL SECURITIES LTD. S 157545 133.36
30/3/2010 533157 SYNCOM HEAL A K G STOCK BROKERS PRIVATE LIMITED S 90702 133.24
30/3/2010 533157 SYNCOM HEAL OPG SECURITIES P LTD S 108152 133.89
30/3/2010 590020 Tera Software ABHINAV CAPITAL SERVICES LIMITED B 150000 37.25
30/3/2010 590020 Tera Software VIKABH SECURITIES PRIVATE LIMITED S 150000 37.25
30/3/2010 533164 Texmo Pipes GENUINE STOCK BROKERS PVT. LTD. B 56720 94.52
30/3/2010 533164 Texmo Pipes A K G STOCK BROKERS PRIVATE LIMITED B 77132 93.61
30/3/2010 533164 Texmo Pipes SUNEET LAL B 84579 92.84
30/3/2010 533164 Texmo Pipes SANJAY SINGHAL & SONS (HUF) B 65193 95.14
30/3/2010 533164 Texmo Pipes OPG SECURITIES P LTD B 107714 94.85
30/3/2010 533164 Texmo Pipes GENUINE STOCK BROKERS PVT. LTD. S 56720 94.57
30/3/2010 533164 Texmo Pipes A K G STOCK BROKERS PRIVATE LIMITED S 78142 93.76
30/3/2010 533164 Texmo Pipes SUNEET LAL S 84579 93.00
30/3/2010 533164 Texmo Pipes SANJAY SINGHAL & SONS (HUF) S 65193 95.30
30/3/2010 533164 Texmo Pipes OPG SECURITIES P LTD S 107714 94.95
30/3/2010 507205 Tilaknagar Inds AMITARUN DAHANUKAR S 400000 123.30
30/3/2010 532398 Usha Martin Edu SHREY SECURITIES PVT LTD S 149787 50.87
30/3/2010 532389 Valecha Engr SUNEET LAL B 60501 156.65
30/3/2010 532389 Valecha Engr SUNEET LAL S 60501 156.60
30/3/2010 530459 Valson Inds OMSHREE SILK INDIA INTERNATIONAL PVT. LTD. S 20926 22.47
30/3/2010 530369 Vamshi Rubber UDAY RAMESH SHAH B 23174 32.08
30/3/2010 531249 Well Pack Papers BENKO TRADING PRIVATE LTD B 435000 23.85
30/3/2010 531249 Well Pack Papers AMAR PREMCHAND WALMIKI S 1266000 23.57
30/3/2010 531249 Well Pack Papers VISHESH SHAHRA S 400000 23.60
30/3/2010 500444 West Coast Paper Capital Growth Investments Ltd S 539661 57.88
30/3/2010 530091 Zyden Gentec DEEPAK REAL ESTATEDEVE. I. P.L S 200000 1.85
* B - Buy, S - Sell
NSE Bulk Deals to Watch - March 30 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-MAR-2010,AMRUTANJAN,Amrutajan Health Ltd,NILE ENTERPRISES PVT LTD,BUY,28353,881.65,-
30-MAR-2010,AMRUTANJAN,Amrutajan Health Ltd,SANGHAI ASHUTOSH OMPRAKASH,BUY,10036,903.04,-
30-MAR-2010,ATLANTA,Atlanta Limited,MANISH VRAJLAL SARVAIYA,BUY,120853,226.76,-
30-MAR-2010,ATLANTA,Atlanta Limited,PRIMORE SOLUTIONS PVT.LTD,BUY,181816,231.40,-
30-MAR-2010,GLORY,Glory Polyfilms Limited,ROSY DEAL COMM (P) LTD,BUY,127546,23.39,-
30-MAR-2010,GSSAMERICA,GSS America Infotech Limi,YERRAMSETTI RAMESH,BUY,250000,298.00,-
30-MAR-2010,ITI,ITI Ltd.,MINT TRADING & INVESTMENT,BUY,123362,48.28,-
30-MAR-2010,KHAITANELE,Khaitan Electricals Ltd,KHAITAN LEFIN LIMITED,BUY,80000,79.42,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,BP FINTRADE PRIVATE LIMITED,BUY,138186,160.76,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,124623,160.27,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,GENUINE STOCK BROKERS PVT LTD,BUY,178838,162.52,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MANIPUT INVESTMENTS PVT. LTD.,BUY,121189,161.44,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MELCHIOR INDIAN OPPORTUNITIES FUND,BUY,200000,161.22,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,OM INVESTMENTS,BUY,121187,161.38,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,TRANSGLOBAL SECURITIES LTD.,BUY,151641,161.55,-
30-MAR-2010,SALORAINTL,Salora International Ltd.,KIRTIKUMAR KANTILAL SHAH,BUY,35739,51.39,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,95810,132.96,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CPR CAPITAL SERVICES LTD.,BUY,108639,133.17,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,239272,133.38,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,92496,133.27,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R APPALA RAJU,BUY,100000,132.73,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,159733,133.45,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,97100,93.67,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,104448,94.45,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,BUY,80446,94.11,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,BUY,112127,92.89,-
30-MAR-2010,AMRUTANJAN,Amrutajan Health Ltd,SANGHAI ASHUTOSH OMPRAKASH,SELL,18979,882.51,-
30-MAR-2010,ATLANTA,Atlanta Limited,MANISH VRAJLAL SARVAIYA,SELL,120853,227.07,-
30-MAR-2010,ATLANTA,Atlanta Limited,PRIMORE SOLUTIONS PVT.LTD,SELL,181816,234.00,-
30-MAR-2010,BLUEBIRD,Blue Bird (India) Limited,KARVY FINANCIAL SERVICES LIMITED,SELL,391623,15.81,-
30-MAR-2010,GSSAMERICA,GSS America Infotech Limi,MAREPALLY BHARGAV,SELL,250000,298.00,-
30-MAR-2010,ITI,ITI Ltd.,MINT TRADING & INVESTMENT,SELL,123362,48.26,-
30-MAR-2010,KHAITANELE,Khaitan Electricals Ltd,ARION COMMERCIAL PVT LTD,SELL,76818,79.42,-
30-MAR-2010,MARG,Marg Limited,PVT LTD PASHA FINANCE,SELL,243000,176.80,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,BP FINTRADE PRIVATE LIMITED,SELL,136913,160.95,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,CHANDARANA INTERMEDIARIES BROKERS P. LTD,SELL,124623,160.29,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,GENUINE STOCK BROKERS PVT LTD,SELL,178838,162.73,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,MANIPUT INVESTMENTS PVT. LTD.,SELL,121189,161.50,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,OM INVESTMENTS,SELL,121187,161.51,-
30-MAR-2010,MSKPROJ,MSK Projects (India) Limi,TRANSGLOBAL SECURITIES LTD.,SELL,151641,161.54,-
30-MAR-2010,SALORAINTL,Salora International Ltd.,KIRTIKUMAR KANTILAL SHAH,SELL,55739,51.77,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,95810,132.91,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,CPR CAPITAL SERVICES LTD.,SELL,108639,133.23,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,239272,133.50,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,92496,133.35,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,R APPALA RAJU,SELL,100000,132.78,-
30-MAR-2010,SYNCOM,Syncom Healthcare Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,159730,133.27,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,97100,93.61,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,104448,94.52,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,OM INVESTMENTS,SELL,80446,94.16,-
30-MAR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,SUNEET LAL,SELL,112127,92.89,-
Small-cap, mid-cap indices nudge higher
The key benchmarks edged lower as profit taking emerged after the market scaled two-year high on Monday, 29 March 2010. Nevertheless, the market breadth was strong, with some side counters surging sharply. The BSE 30-share Sensex fell 121.18 points or 0.68%, off close to 195 points from the day's high and up close to 30 points from the day's low. IT stocks fell on a firm rupee. Banking and auto stocks also edged lower. But, realty stocks gained.
NSE's volatility index, India VIX, surged for the third day in a row. The index rose 5.71% to 19.80. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days. The lower the index, which is based the S&P CNX Nifty option prices, the higher the market's desire to take risk.
The market edged higher in early trade on firm Asian stocks. It remained range-bound later. The market slipped into the red in morning trade. It came off the lower level in mid-morning trade, regaining positive zone. The market once again moved in a narrow range in early afternoon trade. The market once again slipped into the red in mid-afternoon trade. Stocks extended losses in late trade.
European shares edged higher on Tuesday, helped by gains for mining giant BHP Billiton and Swiss bank UBS, but Irish banks dropped sharply for the second straight day. The key benchmark indices in Germany and France were up by 0.02% to 0.15%.
Romania and Hungary cut interest rates to fresh lows on Monday as monetary policymakers looked to support growth in response to an improved assessment of market risk in central and eastern Europe
Asian stocks rose on Tuesday after a report showed that US consumers continued to spend last month, with the sentiment also boosted by Greece's success in raising money from the debt market. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Taiwan, China and Singapore rose by between 0.15% to 1.01%.
Japan's industrial production fell in February and the unemployment rate held at the lowest level since March 2009, underscoring an uneven economic recovery that has yet to end deflation. The 0.9% drop in factory output from a month earlier snapped 11 straight gains and followed a 2.7% increase in January, the Trade Ministry said in Tokyo. The jobless rate stayed at 4.9% after two monthly declines.
Though still in the green, US index futures were off the day's highs. Trading in US index futures indicated that the Dow could gain 15 points at the opening bell on Tuesday, 30 March 2010.
US stocks rose on Monday 29 March 2010 as miners and energy companies advanced on dollar weakness and investors bought recent high fliers as the quarter's end approached. Stocks got a boost from news US consumer spending rose for a fifth straight month in February. The Dow Jones Industrial Average rose 45.50 points, or 0.42%, to end at 10,895.86. The Standard & Poor's 500 Index inched up 6.63 point, or 0.57%, to 1,173.22. The Nasdaq Composite Index gained 9.23 points, or 0.39%, to close at 2,404.36.
On Monday, data showed personal spending in the US rose for the fifth consecutive month in February 2010. All eyes are now on Friday's (2 April 2010) crucial non-farm payrolls for March 2010. The US economy is expected to add some 200,000-odd jobs in March, which would be the largest gain since the recession.
The International Monetary Fund is more optimistic about the prospects for global economic growth than it was in January, but the world is experiencing an uneven recovery, IMF managing director Dominique Strauss-Kahn said on Monday.
Back home, foreign funds have made heavy purchases of Indian stocks this month, helping stocks register strong gains. The Sensex had jumped 1,457.15 points or 8.96% to a 2-year closing high of 17711.35 on Monday, 29 March 2010, from a low of 16,254.20 on 25 February 2010. As per data from the stock exchanges, foreign institutional investors (FIIs) bought stocks worth a net Rs 13,799.52 crore this month, till 29 March 2010. Finance secretary Ashok Chawla said on Tuesday, 23 March 2010, that foreign capital flows into India are currently not posing any concern.
Meanwhile, stock brokers have advised investors not to sell shares bought on Wednesday, 31 March 2010, the next day i.e. on Thursday, 1 April 2010, due to clubbing of settlement by the stock exchanges. There will be no settlement of shares/funds on 1 April 2010 due to annual closing of books of accounts of commercial banks. The current financial year ends on Wednesday, 31 March 2010.
The stock market remains closed on Friday, 2 April 2010, on account of Good Friday.
Encouraging Q4 March 2010 advance tax figures of top Indian firms, indicating good Q4 March 2010 results, boosted Indian equities over the past few days. The market also witnessed a strong post-Budget rally driven by sustained buying by foreign funds since the presentation of the Union Budget 2010-2011 on 26 February 2010. Global credit rating agency Standard & Poor's, last week, revised the outlook on India to stable from negative due to improved government finances.
The stock market gave a thumbs up to 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 GDP growth of about 8% and inflation of about 4.5% for 2010-2011.
The forecast for the southwest monsoon for 2010 is the next major trigger for the market. Good rains this year after last year's drought will boost farm output and rural incomes. But another monsoon failure will add to inflationary pressure which in turn may hamper the current strong economic rebound.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary Prabeer Kumar Basu had also told media in Delhi last week that the monsoon rains for the year will be normal. The Indian Meteorological Department (IMD) issues a monsoon forecast, usually in the second half of April after considering weather observations in different parts of the world and extrapolating statistical data.
The headline inflation was near 10% in February, prompting the RBI to unexpectedly raise its key lending and borrowing rates by 25 basis points each on 19 March 2020. The Reserve Bank has said it is imperative to anchor inflationary expectations and analysts have forecast another rate hike during the policy review on 20 April 2010.
Meanwhile, the latest economic data showed infrastructure sector output grew 4.5% in February from a year earlier, lower than an upwardly revised annual growth of 9.5% in January. During April-February, the first 11 months of the 2009/10 fiscal year, output rose 5.3% from 2.9% a year ago. The infrastructure sector accounts for 26.7% of India's industrial output.
The headline inflation should peak in March with demand-side pressures likely having a short-term impact on prices, the central chief statistician Pronab Sen said on Friday.
The government will sell 63% of its bond issuance for the new fiscal year in the first half, slightly less than expected, giving a near-term respite to satiated bondholders and helping send yields sharply lower on Monday. Yields fell further on Tuesday. The government on Monday said it will sell Rs 2.87 lakh crore ($64 billion) of bonds in the first half of 2010/11, which starts on 1 April 2010. The bulk of the government's first-half borrowing, or Rs 2 lakh crore, will be in the 10-year and longer segment.
Meanwhile, the government reportedly wants to now classify all equity placements before a public offer to any investor, including private equity firms, or employees as promoter equity. This implies that Indian companies will have to offer more shares in a public offering to investors, in keeping with changes in rules proposed by the government to boost public holding in listed firms and liquidity. This will form part of the new rules under which all listed companies will have to consistently maintain a public holding of at least 25%.
The BSE 30-share Sensex fell 121.18 points or 0.68% to 17,590.17. The Sensex rose 72 points at the day's high of 17,783.35 in early trade. The barometer fell 153.13 points at the day's low of 17,558.20 in late trade.
The S&P CNX Nifty fell 40.40 points or 0.76% to 5,262.45.
The BSE Mid-Cap index rose 0.15% and the BSE Small-Cap index rose 0.78%. Both the indices outperformed the Sensex.
Most sectoral indices on BSE edged lower. BSE IT index (down 2.19%) and BSE Healthcare index (down 0.94%) underperformed the Sensex. BSE Realty index (up 1.42%), PSU index (up 0.8%), Power index (up 0.16%), FMCG index (down 0.02%), Auto index (down 0.1%), Consumer Durables index (down 0.17%), Capital Goods index (down 0.22%), Oil & Gas index (down 0.29%), and Bankex (down 0.55%), outperformed the Sensex. The BSE Metal index was unchanged, outperforming the Sensex.
The market breadth, indicating overall health of the market was strong. On BSE, 1690 shares advanced as compared with 1104 that declined. A total of 92 shares remained unchanged.
From the 30 Sensex shares, 19 stocks fell and the rest rose.
BSE clocked turnover of Rs 4121 crore, lower than Rs 4608.48 crore on Monday, 29 March 2010.
Index heavyweight Reliance Industries (RIL) fell 0.55%, on profit taking after recent sharp gains. As per the market buzz, RIL's Q4 advance tax surged to Rs 770 crore in Q4 March 2010 from Rs 365 crore a year ago.
Reliance Industries on 14 March 2010 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.
Rate sensitive banking stocks fell on profit taking after recent strong gains. India's largest bank by net profit and branch network State Bank of India (SBI) fell 0.59%.
India's largest private sector bank by net profit HDFC Bank fell 2.98% after hitting an all-time high of Rs 1986 on Monday. But, India's largest private sector bank by net profit ICICI Bank rose 0.73%, extending Monday's 0.56% gains. The bank's Q4 advance tax payment surged to Rs 350 crore versus Rs 250 crore a year ago.
As per reports the annual growth in bank credit has for the first time exceeded the Reserve Bank of India's (RBI's) estimate of 16% for 2009-10. According to latest data from RBI, loan disbursement by scheduled commercial banks, including regional rural banks, recorded 16.04% growth at the end of 12 March 2010, on a year-on-year basis. This is above RBI's projection of 16% credit growth in this financial year.
Rate sensitive realty shares rose on bargain hunting after a recent fall triggered by worries higher interest rate on housing loans may crimp demand. Indiabulls Real Estate, HDIL, DLF, Omaxe, Sobha Developers, Omaxe, Unitech, rose by between 0.48% to 3.28%.
Meanwhile, the introduction of the contentious service tax on apartments that are still under construction in the Union Budget 2010-2011 may reportedly put pressure on property prices.
Auto stocks fell on profit taking after the recent gains. India's largest tractor maker by sales Mahindra & Mahindra (M&M) fell 0.69%, reversing early gains. The company's board will today consider a scheme of arrangement between Mahindra Shubhlabh Services (MSSL), a subsidiary and Mahindra & Mahindra which envisages demerger of the agri inputs business of MSSL into M&M. Meanwhile, M&M paid Rs 236 crore in advance tax in Q4 March 2010 versus nil payment a year earlier.
India's largest car maker by sales Maruti Suzuki India fell 1% extending recent slide triggered by fears increase in competition may dent sales. Recently, Ford India entered the small car market with 'Figo'.
Bajaj Auto fell 0.17%. The company said recently it is targeting sales of 40 lakh vehicles in the year ending March 2011. The company sold 25.78 lakh vehicles in the first eleven months of the current fiscal year ending March 2010.
India's largest bike maker by sales Hero Honda Motors fell 1.9%. The company's board at a meeting held today, 30 March 2010, declared a silver jubilee special dividend of Rs 80 per share.
But, Tata Motors rose 2.25%, extending recent gains after after the company sold a 20% stake in Telco Construction Equipment Company to Japan's Hitachi Construction Machinery Company for a consideration of Rs 1159 crore. Telcon supplies a wide range of construction equipment such as excavators, mining shovels and dumpers to the construction and earth-moving sector.
Increase in raw material prices coupled with costs associated with new emission norms could force auto makers 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.
Auto Component makers rose on hopes of strong fourth quarter result. Clutch Auto, Bharat Seats, Sona Koyo Steering, Bharat Forge, Gabriel, Exide Industries and Ramkrishna Forgings rose by between 0.57% to 6.32%.
IT stocks extended recent losses on recent strong gains in rupee against the dollar. The rupee retreated from near 19-month highs on Tuesday afternoon as some banks booked profits after the sharp rally while month-end dollar demand from oil firms and importers also weighed. India's largest software services exporter by sales Tata Consultancy Services (TCS) fell 1.32% falling for the third straight day. The company said recently it signed a five year contract with Malaysia Airlines for providing end-to-end information technology infrastructure services.
India's second largest software services exporter by sales Infosys fell 2.64%, falling for the third straight day. Infosys' fourth quarter advance tax payment doubled. India's third largest software services exporter by sales Wipro fell 1.92%.
The partially convertible rupee was at 45.09/10 per dollar, after touching 44.88, its strongest since 10 September 2008 and weaker than its close of 44.9575/9675 on Monday. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
Metal stocks rose after LMEX, a gauge of six metals traded on the London Metal Exchange, rose 3.01% on Monday, 29 March 2010., Sesa Goa, NMDC, Sterlite Industries, Steel Authority of India, Hindustan Zinc, National Aluminum Company, Gujarat NRE Coke rose by between 0.36% to 4%.
But, India's largest steel maker by sales Tata Steel fell 1.14%. The company reportedly plans to tap the global depository receipt (GDR) market for raising at least $500 million (Rs 2,300 crore). The money is to be raised within the next two quarters, to capitalise the balance sheet, report said. Tata Steel's Q4 advance tax payment rose to Rs 513 crore from Rs 406 crore a year earlier.
India's largest drugmaker by sales Ranbaxy Laboratories fell 0.99% on reports Daiichi Sankyo plans to delist Ranbaxy Laboratories. The Japanese drugmaker owns 64% in Ranbaxy. The report said the third-largest Japanese drugmaker was working on the buyback price to gain full control of Ranbaxy and integrate the Indian firm with itself. Daiichi had bought a majority stake in Ranbaxy in 2008 to diversify its operations into generic drugs and emerging markets.
Among other Pharma stocks, Dr Reddy's Laboratories, Biocon, Cipla and Lupin fell by between 0.46% to 3.1%.
India's largest mobile services provider by sales Bharti Airtel was flat. As per reports Bharti Airtel and Kuwait's Zain are likely to sign agreements for the Bharti's $9 billion buy of Zain's African assets today, 30 March 2010. India's second largest mobile services provider by sales Reliance Communications fell 1.13%.
India's largest mortgage lender, Housing Development Finance Corporation (HDFC) fell 0.99% after gaining 2.04% on Monday on reports the company plans to rejig its investments in unlisted companies to capture their value. It will transfer shares of select securities to a special purpose vehicle (SPV) and bring in strategic investors in the SPV. HDFC has investments in companies such as Lafarge, Chalet Hotels, IL&FS , IL&FS Education, National Stock Exchange (NSE), L&T Urban Infrastructure and Maruti Countrywide, which it does not consider as strategic to its business.
India's largest engineering and construction firm by sales, L&T, fell 1.18% on profit taking. The company said today it bagged orders worth Rs 1126 crore for metallurgical, material handling & water sector projects. The stock had risen 1.43% on Monday after the company said it bagged an order worth Rs 1400 crore.
India's largest FMCG maker by sales Hindustan Unilever rose 0.52%, gaining for the second straight day after the company sold remaining 49% in Capgemini Business Services (India) to Cap Gemini S.A.
But other FMCG stocks fell. United Spirits, Marico, ITC, Nestle India fell by between 0.02% to 1.31%.
Shares of IL&FS Transportation Networks settled at Rs 273.75 on BSE, at a premium of 6.10% over the initial public offer price of Rs 258. The stock debuted at Rs 287, a premium of 11.2% over the initial public offer (IPO) price.
Cals Refineries clocked the highest volume of 1.83 crore shares on BSE. IL& FS Transportation (1.65 crore shares), Bellary Steels (1.4 crore shares), DQ Entertainment (1.23 crore shares) and Birla Power Solutions (0.85 crore shares) were the other volume toppers in that order.
IL& FS Transportation clocked the highest turnover of Rs 452.11 crore on BSE. Hindustan Copper (Rs 163.37 crore), DQ Entertainment (Rs 135.16 crore), NMDC (Rs 124,44 crore) and ICICI Bank (Rs 92.11 crore) were the other turnover toppers in that order.
Daily News Roundup - March 30 2010
ACC plans to process non-degradable waste materials like disposed water bottles, polythene and other waste materials to make cement at its Bargarh plant in western Orissa. (BS)
GVK Power acquired 9.5% additional stake in GVK Gautami Power Ltd from the Hyderabad-based Nagarjuna Construction Company. (BL)
Hindustan Unilever announced that it sold its remaining 49% stake in Capgemini Business Services (India) Ltd to Cap Gemini SA as part of an agreement signed in October 2006. (BS)
L&T bagged Rs14bn order from IOC for supply of a 4.17mtpa FCC (fluidised catalytic cracker) reactor regenerator project for IOC's fuel refinery at Paradip, Orissa. (BL)
Ranbaxy has entered into a pact with US-based Pfenex Inc for developing biosimilars. (BS)
Japanese drug-maker Daiichi Sankyo, which owns 64% stake in Ranbaxy Laboratories Ltd, has finally firmed up plans to de-list the firm from the stock exchanges. (FE)
Colgate Palmolive has acquired the remaining 25% of share capital that it had in CC Health Care Products Pvt Ltd. (FE)
SAIL signed a 50:50 JV agreement with Shipping Corporation of India to primarily take care of SAIL’s shipping needs by owning and operating ships. (BL)
Promoters of Unitech raised their stake in the real estate company to 45% from 43.84%. (BL)
Havells India plans to increase its marketing spend by over 40% to Rs1bn by next fiscal and enhance its overseas retail footprints, starting with Africa. (ET)
GMDC plans to invest Rs4.8bn in the next two financial years to generate 81MW of wind energy at two different places in the Gujarat. (BL)
Punj Lloyd sold its entire stake of 19.43% in Pipavav Shipyard to its co-promoter, SKIL Infrastructure, for Rs6.6bn through an inter-se promoter transfer. (BL)
Nagarjuna Construction Company secured new orders aggregating Rs9.7bn, including a deal from Nagarjuna Oil Corporation Ltd. (BL)
IVRCL secured a mandate to execute four projects worth Rs8.7bn, covering canal system modernization and three water supply projects. (BL)
Sanofi-Aventis, the world’s third largest drug maker, has approached a US court against Wockhardt for challenging the patents of Allegra (fexofenadine hydrochloride), one of the largest selling anti-allergic drugs in the world. (BS)
Indoco Remedies entered into a long-term drug supply pact with Aspen Pharmacare, the largest pharmaceutical manufacturer in Africa and one of the top 20 generics manufacturers in the world. (BS)
Suven Life Sciences secured a product patent from the European Patent Office for its New Chemical Entity meant for the treatment of neurodegenerative diseases. (BL)
Kalanithi Maran, promoter of Sun TV, and the promoters of Spice-Jet are sparring over the price being offered for a majority stake in the budget carrier. (ET)
SKIL Infrastructure, promoter of Pipavav Shipyard, has made an open offer to acquire 20% stake in the company for Rs8.2bn, at Rs61.5/share. (BS)
MTNL has abandoned its bid to buy out Zambian telco Zamtel as BSNL too has backed out from the deal. (ET)
The Supreme Court rejected the central government’s plea to allow Lafarge, the French mining giant, to resume limestone mining in Meghalaya. (BS)
The country's crude oil import increased by 13.2% in February to 10.67mt over the corresponding period last year. (BL)
The government got Rs99.3bn from its follow-on offer of NMDC shares and Rs136.2bn from divestment in NHPC, OIL, REC and NTPC, leaving it short by Rs14.5bn for its year’s disinvestment target of Rs250bn. (BS)
India has signed an agreement for Rs105bn official development assistance from Japan, which includes Rs16.5bn for the second phase of Delhi mass rapid transport system project, Rs44.2bn for the dedicated rail freight corridor and Rs29.3bn for Chennai metro. (BS)
RBI has allowed Indian companies to buy back Foreign Currency Convertible Bonds, under both the automatic route and approval route until June 30. (FE)
Four-laning of National Highway 40, which connects Shillong, capital of Meghalaya, with Guwahati, is expected to commence in 2010. (BS)
The Centre has fixed a target of Rs46bn under the Mahatma Gandhi National Rural Employment Guarantee Scheme for 2010-11, a growth of close to double the amount spent during 2009-10. (BS)
Union Coal Minister said coal blocks would be allocated on the merit of the proposed power projects, including ‘likeability’ of production, within the current XIth Plan. (BS)
A Gartner study indicates that the domestic BPO market is expected to grow at 25% in 2010 to touch US$1.2bn by 2011. (BS)
The new Companies Bill will give SEBI the powers to look into the end-use of Initial Public Offerings. (BL)
The Finance Secretary said that the government will borrow Rs2.9trn, 63% of its gross requirement, in the first half of 2010-11. (BL)
The Government on Monday cleared 23 FDI proposals worth Rs23.3bn including that of the Pune-based auto components maker Bharat Forge. (BL)
Setting a positive tone for Prime minister Manmohan Singh’s visit to Washington DC to attend the April 1213 Nuclear Security Summit, US Ambassador Timothy J Roemer has announced the finalization of a pact with India on re-processing US-origin spent nuclear fuel, a critical step that will enable the two countries to implement their nuclear deal. (FE)
Make sense of the business
Everybody gets so much information all day long that they lose their common sense - Gertrude Stein.
In a world of indices hitting new 52-week highs, individual stock prices are changing in a narrow range. In the immediate term, anything and everything can rattle the stock prices; be it a downgrade, a change in weather or perhaps even a comment from Greece or Portugal. Focus on the company’s business instead and the broader environment.
Markets in the US and Europe posted gains, with the Dow hitting a new 18-month high. Concerns over sovereign default have ebbed with Greece securing EU commitment on financial aid and Dubai getting a fresh bailout.
FII inflows have held up pretty strong post the Union Budget. Monday was no exception. Local funds though have been a bit more cautious. Among the key concerns since Budget has been the tepid show put up by the broader market. The same was on display on Monday as well. This does stick out like a sore thumb and calls for some caution.
With NAV dressing done with for the year, we see a flat to sedate start and less upside given the mixed trend across Asia. The market appears to be fairly valued, especially the large caps. So, chances of a major rally from here onwards look slim though the medium-term and long-term outlook remains upbeat. Near-term market action will be mostly stock specific, rangebound and choppy.
Shares of IL&FS Transportation Networks Ltd. will be listed today.
Hero Honda will hold a board meeting to announce a special interim dividend. M&M will consider a demerger of the Agri Inputs Business of its subsidiary, Mahindra Shubhlabh Services Ltd., a subsidiary (MSSL) into the company.
Abbott India and Plethico Pharma will declare their results. SpiceJet and Sun TV will hog the limelight amid news reports suggesting a possible deal brewing between the promoters of the two companies.
FIIs were net buyers in the cash segment on Monday at Rs10.63bn on a provisional basis. Local funds were net sellers of Rs2.7bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers of Rs638.5mn. On Friday, FIIs were net buyers of Rs10.79bn in the cash segment, as per the SEBI web site.
In global markets, the euro managed to extend gains against the US dollar from last week. Hopes that the eurozone’s sovereign debt woes are no longer a big threat to the region’s fragile growth help support the single currency and boosted risk appetite worldwide.
A weaker dollar meant a positive session for energy and commodities. Gold futures end higher on dollar weakness, improved market sentiment, and expectations that Chinese demand for gold could double in the next 10 years.
The Indian benchmark indices closed at new 52-week high with the NSE Nifty shutting shop above the 5300 levels for the first time since June 2008. The Nifty went on to hit an intra-day high of 5,329 led by the banking, FMCG and the Capital Goods stocks. However, the IT stocks were the major laggards as the Rupee appreciated to fresh 18-months high. Heavyweights like Infosys and TCS were under pressure. Finally, the BSE Sensex advanced 67 points to end at 17,711 and NSE Nifty added 21 points to close at 5,303.
However, market breadth was yet again in favour of the bears, out of total 2951 stocks, 1,845 declined against 1,029 advances while 77 stocks remained unchanged.
In Asia, the Nikkei in Japan ended flat, Australia's S&P/ASX also ended almost unchanged. Shanghai SE Composite rose 2% and Hang Seng index in Hong Kong was up 0.8%.
In Europe, stocks were trading with a positive bias. The DAX in Germany was up 0.8%, the CAC 40 index in France was up 0.5% and the FTSE in the UK was up 0.2%.
Coming back to India, among the BSE sectoral indices, the BSE Consumer Durables index was top gainer, the index rose 2%, followed by BSE FMCG index up 1% and Bank index up 0.8%.
Among the top losers were, BSE IT index was down 1.8% and the BSE Teck index was down 1.3%.
Outside the frontline indices, the big gainers in the broader market were LIC Housing Fin, Glenmark, Nestle, Bajaj Holdings and Mumdra Port. On the other hand, losers included NMDC, Torrent Power, Hindustan Copper and Jai Corp.
Shares of L&T gained by 1.5% to Rs1659 after the company announced that it secured a major order valued at Rs14bn from Indian Oil Corporation Limited (IOCL) for a 4.17 MMTPA FCC (Fluidized Catalytic Cracker) Reactor Regenerator Project of a grassroots fuel refinery at Paradip, Orissa.
Colgate Palmolive (India) currently holds 75% of the share capital of CC Health Care Products Pvt. Ltd, engaged in the manufacture of toothpowder at Hyderabad. The Company has acquired the remaining 25% of share capital from the local shareholders at an aggregate price of Rs. 69.07 lacs and accordingly CC Health Care Products Ltd has become a wholly owned subsidiary of the Company effective March 29, 2010
The stock fell 2.2% to end at Rs681. The scrip opened at Rs706 it touched an intra-day high of Rs718 and a low of Rs680 and recorded volumes of over 54,000 shares on BSE.
Hindustan Unilever announced that pursuant to the terms of agreement entered between Hindustan Unilever Ltd. (HUL) and Cap Gemini 5A in October 2006, HUL has divested its remaining 49% stake in Capgemini Business Services (India) Ltd. (CGBSL) [formerly Unilever India Shared Services Ltd. (UISSL)].
The stock ended higher by 1% to Rs239. The scrip opened at Rs238 it touched an intra-day high of Rs240 and a low of Rs237 and recorded volumes of over 0.2mn shares on BSE.
Shares of Ranbaxy Laboratories advanced by 1% to end at Rs481 after the company announced that it would develop an undisclosed biosimilar therapeutic along with Pfenex Inc. in the Pfenex Expression Technology platform, a Pseudomonas-based recombinant protein expression technology.
The scrip opened at Rs477 it touched an intra-day high of Rs486 and a low of Rs474 and recorded volumes of over 0.32mn shares on BSE.
DQ Entertainment (International) Limited, a fully integrated, broad-based entertainment group registered an animated debut on Dalal-Street. The stock started trading at Rs135 per share as against the issue price of Rs80 per share. Finally, the stock ended at Rs108 translating into a premium of 35%.
The company is a global leader in the creation, production, distribution, licensing and marketing of all forms of entertainment. It has the largest animation production capacity for Television, Feature Films, Home Video, Online Game Art, mobile and next generation console games across all formats as well as Visual Effects.
DQ Ent’s IPO was subscribed ~86.33 times on last day of issue. The issue received total bids for 1,141mn equity shares against the offer of 13.21mn equity shares. The issue price was fixed in a price band of Rs75-80 per share.
The Qualified Institutional Buyers (QIBs) portion of IPO received subscription of almost ~94 times. It received total bids for 620mn equity shares against the offer of 6.6mn equity shares. Out of the QIB portion, FIIs bid for 377.5mn equity shares and MFs subscribed for 120.3mn equity shares. The domestic financial institutions including banks, financial institutions and insurance companies subscribed for 90.5mn, while the remaining 31.7mn shares were subscribed by others.
ICICI Bank reportedly acquired ~177.6mn shares of Western India Shipyard raising its stake in the company to 64.1% from 9.77%.
Shares of Western India Shipyard were locked at 5% to Rs12.86. The scrip opened at Rs12.15 it touched an intra-day high of Rs12.86 and a low of Rs12 and has recorded volumes of over 0.2mn shares on BSE.
Templeton Strategic Emerging Markets Fund III LDC concluded a US$20.6mn investment in Shiv-Vani Oil & Gas Exploration on 23 March 2010. The stock ended higher by 1% to Rs408. The scrip opened at Rs404 it touched an intra-day high of Rs424 and a low of Rs404 and recorded volumes of over 42,000 shares on BSE.
Bright day for precious metals
Host of factors take precious metals higher
Precious metal prices ended higher on Monday, 29 March 2010. Prices rose as the dollar slipped during the day and also on anticipation that demand from China will increase in the coming years.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Monday, gold for April delivery ended at $1,111.5 an ounce, higher by $6.1 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended marginally lower by 0.2%. In FY 2010, gold touched a high of $1,154 in January.
On Monday, May Comex silver futures ended higher by 48 cents (2.8%) at $17.38 an ounce. Last week, silver ended lower by 0.7%.
In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%.
In a report released today, the World Gold Council said that demand for gold from China could double in the next decade due to higher investment demand. As per the report, demand for gold in China reached 423 metric tons, or 466 short tons, last year, but domestic mines contributed only 314 metric tons, or 346 short tons. This shortfall creates a "snowball" effect as China's gold industry has to rely on imports.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end. Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.
At the MCX, gold prices for April delivery closed lower by Rs 71 (0.43%) at Rs 16,319 per ten grams. Prices rose to a high of Rs 16,405 per 10 grams and fell to a low of Rs 16,310 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 389 (1.5%) higher at Rs 26,851/Kg. Prices opened at Rs 26,510/kg and rose to a high of Rs 26,900/Kg during the day's trading.
Gabriel India
Gabriel India faces strong long-term resistance in the range between Rs 38 and Rs 44. The stock reversed from this zone in December 1994 and then in April 2006.
This zone arrested the stock's rally this January as well and it reversed lower from the peak of Rs 43.9. The correction from this peak was however quite mild and the stock is taking support at the 38.2 per cent retracement of its rally from the March 2009 trough.
A short-term uptrend is in progress since February 26 in this stock. The strong 8 per cent surge on Monday accompanied by record volumes implies that the third leg of this uptrend could have started. The stock managed a strong close above its 50-day moving average as well as its short-term trend line on Monday.
The 10-day rate of change oscillator has moved in to the positive zone and the 14-day relative strength index that has moved to 58 denoting short-term strength. Investors with short-term trading perspective can buy the stock with the target of Rs 37 and Rs 38.6. Stop-loss can be placed at Rs 33.8.
via BL
Nifty April 2010 futures at premium
Turnover declines
Nifty April 2010 futures were at 5,323, at a premium of 20.15 points over spot closing of 5,302.85. Turnover in NSE's futures & options (F&O) segment was Rs 57,047.03 crore, lower than Rs 57,814.27 crore on Friday, 26 March 2010.
State Bank of India April 2010 futures were at premium at 2104 compared to the spot closing of 2093.
LIC Housing Finance April 2010 futures were at premium at 880.80 compared to the spot closing of 878.20.
Hindalco Industries April 2010 futures were at a slight premium at 185 compared to the spot closing of 184.20.
In the cash market, the S&P CNX Nifty rose 20.85 points or 0.39% at 5,302.85.
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