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Wednesday, April 21, 2010
Orient Green Power files for IPO
Shriram EPC holds 35.8% stake in the company
Shriram EPC-promoted Orient Green Power, has filed a draft red herring prospectus (DRHP) for an initial public offer (IPO). Shriram EPC holds 35.8% stake in the company. Two private equity firms Olympus Capital and Bessemer Venture Partners hold the remaining stake.
Orient Green is a renewable energy producer in India focused on the development, ownership, and operation of wind, biomass and small hydel projects. The company currently has an aggregate installed capacity of 196 megawatts (MW), comprising 156 MW from wind power and 40 MW biomass projects. The company requires fund to expand power generation capacity to to 1000 MW in two years.
The IPO will consists of a fresh issue of shares and the holding of the current shareholders will be reduced to that extent.
BSE Bulk Deals to Watch - Apr 21 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
21/4/2010 517546 Alfa Trans Naman Securities & Finance Pvt. Ltd. B 33078 45.12
21/4/2010 517546 Alfa Trans Naman Securities & Finance Pvt. Ltd. S 35578 45.11
21/4/2010 533159 AQUA LOGIST OPG SECURITIES P LTD B 175434 337.92
21/4/2010 533159 AQUA LOGIST CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 102836 335.84
21/4/2010 533159 AQUA LOGIST CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 102836 335.07
21/4/2010 533159 AQUA LOGIST OPG SECURITIES P LTD S 175434 338.02
21/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD B 196733 1309.68
21/4/2010 533163 Arss Infra Proj OPG SECURITIES P LTD S 196733 1310.25
21/4/2010 533138 ASTEC A.A.DOSHI SHARE & STOCK BROKERS LTD B 92172 61.15
21/4/2010 533138 ASTEC A.A.DOSHI SHARE & STOCK BROKERS LTD S 94172 61.20
21/4/2010 531795 Atul Auto KAMAL KUMAR JALAN SEC. PVT. LTD B 75000 47.00
21/4/2010 531795 Atul Auto PRAFULLABEN JAYANTIBHAI CHANDRA S 37500 47.00
21/4/2010 531795 Atul Auto MANISHABEN ATULKUMAR CHANDRA S 37500 47.00
21/4/2010 512109 Aviva Inds ASHWIN C JAIN (HUF) S 7500 24.00
21/4/2010 531591 Bampsl Sec PRAKASHCHAND GUPTA B 626516 1.55
21/4/2010 531591 Bampsl Sec KAUSHALYA GARG B 1607454 1.55
21/4/2010 531591 Bampsl Sec PRAKASHCHAND GUPTA S 674950 1.54
21/4/2010 531591 Bampsl Sec SUNILKUMAR GUPTA S 1071000 1.54
21/4/2010 531591 Bampsl Sec SUNDERDASS AGARWAL S 550000 1.55
21/4/2010 531194 Brahmaputra Infra ANMOL FINPRO PVT LTD B 44369 113.82
21/4/2010 531194 Brahmaputra Infra KAILASHCHANDRA MITTAL S 39400 113.07
21/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE B 2419600 11.68
21/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE S 2958510 11.70
21/4/2010 500083 Century Extr SUNIL SARAOGI S 512409 11.69
21/4/2010 500083 Century Extr PRAMILA SARAOGI S 345738 11.67
21/4/2010 500083 Century Extr GOKUL PRIVATE LIMITED S 585000 11.67
21/4/2010 500083 Century Extr MUMBAI STOCK BROKERS PVT LTD S 253925 11.70
21/4/2010 532413 Cerebra Integ VIKABH SECURITIES PRIVATE LIMITED B 100000 17.70
21/4/2010 531932 CG Impex SPAN TRADELINK PRIVATE LIMITED B 39742 5.19
21/4/2010 531932 CG Impex CHAMPAKLAL CHANDULAL SHAH S 75000 5.22
21/4/2010 517973 DMC Intl J A FINANCIAL AND MANAGEMENT CONSULTANTS PVT LTD B 243651 18.45
21/4/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED B 204475 18.48
21/4/2010 517973 DMC Intl KAPIL GUPTA B 118148 18.40
21/4/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED S 204358 18.32
21/4/2010 517973 DMC Intl ANJANA GUPTA S 253212 18.43
21/4/2010 531744 Gini Silk GARNET INTERNATIONAL LIMITED B 121179 42.09
21/4/2010 531744 Gini Silk VISHWANATH SEWARAM HARLALKA S 121000 42.09
21/4/2010 590085 GLOSTER JUTE ASHOK KUMAR BILGAIYAN B 7000 244.86
21/4/2010 590085 GLOSTER JUTE ASHOK KUMAR BILGAIYAN S 7000 239.00
21/4/2010 533189 GOENKA DIAM SAHAR VYAPAR PRIVATE LIMITED B 469054 117.48
21/4/2010 533189 GOENKA DIAM SAHAR VYAPAR PRIVATE LIMITED S 469054 111.75
21/4/2010 533189 GOENKA DIAM GULSHAN INVESTMENT COMPANY LIMITED S 250000 117.50
21/4/2010 513059 GS Auto NILESH EKNATH BHOIR B 62177 39.55
21/4/2010 513059 GS Auto NILESH EKNATH BHOIR S 62073 39.64
21/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED B 283894 256.30
21/4/2010 532770 Hanung Toys AASHKA CONSTRUCTION PRIVATE LIMITED B 173055 253.21
21/4/2010 532770 Hanung Toys AASHKA CONSTRUCTION PRIVATE LIMITED S 173055 253.87
21/4/2010 532770 Hanung Toys AJMERA SHARES TRADING PRIVATE LIMITED S 283894 256.88
21/4/2010 530853 Hipolin NARESHCHAND JAIN B 23656 54.59
21/4/2010 530853 Hipolin NARESHCHAND JAIN S 23356 54.03
21/4/2010 530853 Hipolin GAURAV DOSHI S 19000 52.50
21/4/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED B 15094 17.44
21/4/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED S 18921 17.57
21/4/2010 507981 Jindal Hotels DALJI BOPARAI SINGH B 46588 71.45
21/4/2010 507981 Jindal Hotels DALJI BOPARAI SINGH S 45715 73.05
21/4/2010 530255 KAY Power SUNDERDASS AGARWAL B 69500 17.02
21/4/2010 530255 KAY Power BAMPSL SECURITIES LTD B 77468 17.25
21/4/2010 530255 KAY Power BAMPSL SECURITIES LTD S 70450 17.09
21/4/2010 530255 KAY Power KAUSHALYA GARG S 140400 17.16
21/4/2010 532067 Kilpest India SUNIL BHANDARI B 40200 18.64
21/4/2010 532067 Kilpest India REKHA BHANDARI B 60161 18.65
21/4/2010 532067 Kilpest India REKHA BHANDARI S 39421 18.49
21/4/2010 532067 Kilpest India SNEH GANGWAL S 102560 18.66
21/4/2010 531366 Kohinoor Broad VINOD AMRATLAL NAAI B 746083 9.14
21/4/2010 531366 Kohinoor Broad VINOD AMRATLAL NAAI S 686787 9.06
21/4/2010 524280 Kopran HITESH SHASHIKANT JHAVERI B 300265 36.88
21/4/2010 524280 Kopran BP FINTRADE PRIVATE LIMITED B 218787 36.44
21/4/2010 524280 Kopran BP FINTRADE PRIVATE LIMITED S 212278 36.57
21/4/2010 524280 Kopran HITESH SHASHIKANT JHAVERI S 209056 36.85
21/4/2010 524280 Kopran CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED S 274000 34.87
21/4/2010 508306 Ledo Tea MAULIK BHARAT SHAH B 9393 83.86
21/4/2010 508306 Ledo Tea SUSHEELA TIWARI B 8860 81.59
21/4/2010 508306 Ledo Tea SUSHEELA TIWARI S 8860 83.84
21/4/2010 508306 Ledo Tea MAULIK BHARAT SHAH S 9393 84.83
21/4/2010 590111 MASTER VULASA BABU RAO B 27011 37.91
21/4/2010 590111 MASTER SATYANARAYANA VARAPRASAD GARIKIPATY S 28110 37.95
21/4/2010 590111 MASTER RAMESH KUMAR TUMMAPALA S 61000 37.71
21/4/2010 590060 MK Exim LALITJKACHHADIA B 30000 41.93
21/4/2010 590060 MK Exim HEENA SHAH S 20767 41.69
21/4/2010 531834 Natura Hue Chem VIBHUTI DAS S 40201 15.02
21/4/2010 590090 Octant Inter JMP SECURITIES PVT LTD B 459138 13.59
21/4/2010 590090 Octant Inter JMP SECURITIES PVT LTD S 459138 13.67
21/4/2010 531496 Omkar Overseas S N INVESTMENT S 25000 69.44
21/4/2010 512097 Oregon Comm KRUNAL GOPALDAS RANA B 15780 221.05
21/4/2010 512097 Oregon Comm KRUPA SANJAY SONI B 53608 219.59
21/4/2010 512097 Oregon Comm JIGESH AMRUTLA LHIRANI B 17490 219.85
21/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI B 12435 221.27
21/4/2010 512097 Oregon Comm KRUPASAN JAYSONI B 18400 221.25
21/4/2010 512097 Oregon Comm KRUPA SANJAY SONI S 16815 219.83
21/4/2010 512097 Oregon Comm NIRMALA MAHIPAL S 4902 220.12
21/4/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI S 9003 221.26
21/4/2010 512097 Oregon Comm MAHESH NARENDRA KATE S 7130 220.78
21/4/2010 530923 Passari Cellu MEENA RATHI B 50000 44.15
21/4/2010 504288 Polar Inds RAVIRAJ DEVELOPERS LIMITED B 67090 6.65
21/4/2010 504288 Polar Inds DARSHAN FINANCIAL SERVICES PRIVATE LIMITED B 100000 6.64
21/4/2010 504288 Polar Inds UNITED INDIA INSURANCE CO.LTD S 59617 6.65
21/4/2010 504288 Polar Inds ANKUR CHOPRA HUF S 119559 6.65
21/4/2010 531467 Polypro Fibrils SMART COMMODITY BROKERS PRIVATE LIMITED B 65000 41.47
21/4/2010 531467 Polypro Fibrils STATUS EQUITY AND FINANCE PVT S 30017 41.21
21/4/2010 503873 Priyadarshini Spn HARISH C B 75000 32.59
21/4/2010 526492 Puneet Resins PRAVIN SHANKAR RAO NIKHARE B 29400 15.40
21/4/2010 526492 Puneet Resins PRAVIN SHANKAR RAO NIKHARE S 29400 15.81
21/4/2010 590077 Ranklin Sol SHALU KAPOOR S 31500 68.32
21/4/2010 532687 Repro India KANCHAN CHHABRA B 112090 118.48
21/4/2010 532687 Repro India KANCHAN CHHABRA S 112090 118.37
21/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 736521 11.24
21/4/2010 533083 RISHABHDEV M/S. RIKHAV INVESTMENTS B 159092 11.04
21/4/2010 533083 RISHABHDEV FORT SHARE BROKING PVT LTD. B 300000 10.75
21/4/2010 533083 RISHABHDEV NATHOO RAM NITYA NAND TIMBERS P LTD B 150000 11.77
21/4/2010 533083 RISHABHDEV CHIRAG SHASHIKANT TANNA B 531486 11.15
21/4/2010 533083 RISHABHDEV CHIRAG SHASHIKANT TANNA S 540460 10.96
21/4/2010 533083 RISHABHDEV M/S. RIKHAV INVESTMENTS S 159092 11.11
21/4/2010 533083 RISHABHDEV MAHESH MEETAL S 172273 10.84
21/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 726581 11.00
21/4/2010 502448 Rollatainers OLYMPIA BUILDERS PVT LTD B 375000 382.00
21/4/2010 502448 Rollatainers W.LD. INVESTMENT PVT. LTD. S 375000 382.00
21/4/2010 533056 SARK SYS MADHU JAIN B 100000 35.83
21/4/2010 533056 SARK SYS HIMADRI COMMODITIES PRIVATE LIMITED B 135000 34.68
21/4/2010 533056 SARK SYS CHIRAYUSH AGRO MARKETING PRIVATE LIMITED S 73998 35.08
21/4/2010 533056 SARK SYS SANGAM AGRO AGENCIES PRIVATE LIMITED S 50000 35.90
21/4/2010 533056 SARK SYS TANMOY GANGULY S 77352 35.90
21/4/2010 511413 Sharyans Res FINE ESTATES PRIVATE LIMITED B 1660000 85.50
21/4/2010 511413 Sharyans Res ORACLE SECURITIES PVT LTD S 370000 85.50
21/4/2010 511413 Sharyans Res ZAINAB ARSHAD WAHEDNA S 740000 85.50
21/4/2010 511413 Sharyans Res YUSUF ARSHAD WAHEDNA S 550000 85.50
21/4/2010 526479 SKY Inds VIJAY JAMNADAS VORA S 25715 97.16
21/4/2010 513515 SR Inds DHEERAJ KUMAR LOHIA B 75196 6.83
21/4/2010 530611 Sturdy Inds PRECISE TOOLS & EQUIPMENTS PRIVATE LIMITED S 214565 5.62
21/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED B 80168 25.89
21/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED S 80168 26.04
21/4/2010 531373 Suave Hotels KAMAL PODDAR HUF S 288947 26.21
21/4/2010 526133 Supertex Inds RAKESH RASIKLAL KHARSANI B 500000 3.96
21/4/2010 526133 Supertex Inds HUSSAIN MOHAMMED SHAIKH S 500000 3.94
21/4/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. B 105446 79.26
21/4/2010 533157 SYNCOM HEAL GENUINE STOCK BROKERS PVT. LTD. S 105446 79.31
21/4/2010 524264 Unimers India GVRS SECURITIES PRIVATE LIMITED B 240000 14.62
21/4/2010 524264 Unimers India EXPLICIT FINANCE LIMITED S 226650 14.26
21/4/2010 532619 UTV Software GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD FDI S 249406 438.02
21/4/2010 519152 Vadilal Enter GAURAV DOSHI B 5000 122.50
21/4/2010 519152 Vadilal Enter ATRUN FISCAL PVT LTD B 8539 118.60
21/4/2010 519152 Vadilal Enter NARESHCHAND JAIN B 5206 120.96
21/4/2010 519152 Vadilal Enter BP FINTRADE PRIVATE LIMITED B 15264 117.62
21/4/2010 519152 Vadilal Enter VSL SECURITIES PVT LTD S 7788 119.55
21/4/2010 519152 Vadilal Enter BP FINTRADE PRIVATE LIMITED S 10267 116.66
21/4/2010 519152 Vadilal Enter NARESHCHAND JAIN S 5206 119.49
21/4/2010 532389 Valecha Engr AJMERA SHARES TRADING PRIVATE LIMITED B 170028 211.60
21/4/2010 532389 Valecha Engr AJMERA SHARES TRADING PRIVATE LIMITED S 170028 208.74
21/4/2010 530459 Valson Inds ALL ROUNDER MARKETING PVT LTD B 36500 32.30
21/4/2010 532677 Vikash Metal ARCADIA SHARE & STOCK BROKERS PVT. LTD B 180999 22.43
21/4/2010 532677 Vikash Metal ARCADIA SHARE & STOCK BROKERS PVT. LTD S 278772 22.20
21/4/2010 531668 Vision Corp HEMANT RATILAL SHAH S 101000 7.57
21/4/2010 531396 Women Networks EPOCH MERCANTILES PVT LTD B 31888 33.30
21/4/2010 531396 Women Networks PRAGYA COMMODITIES PVT. LTD. S 20000 33.11
21/4/2010 506313 Zenzy Technocrats HEMAL MADHUSUDAN PATEL B 3450 5.16
21/4/2010 506313 Zenzy Technocrats ALI HUSSAINI IRANI S 3450 5.16
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Apr 21 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
21-APR-2010,AQUA,Aqua Logistics Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,103036,334.67,-
21-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,83032,1312.79,-
21-APR-2010,CENTEXT,Century Extrusions Limite,BHARAT SHANKAR PHAPALE,BUY,630223,11.74,-
21-APR-2010,FCSSOFT,FCS Software Solutions Li,MANISH RATILAL SHAH,BUY,3730178,5.05,-
21-APR-2010,GEOMETRIC,Geometric Limited,MANISH VRAJLAL SARVAIYA,BUY,571177,79.08,-
21-APR-2010,GOENKA,Goenka Diamond&Jewels Ltd,SALASAR STOCK BROKING LTD.,BUY,252527,112.29,-
21-APR-2010,GSSAMERICA,GSS America Infotech Limi,VAIBHAV DOSHI,BUY,88468,350.08,-
21-APR-2010,HANUNG,Hanung Toys and Textiles,AASHKA CONSTRUCTION PVT LTD,BUY,289550,257.10,-
21-APR-2010,MSKPROJ,MSK Projects (India) Limi,SURBHI TRADING CO, PVT LTD,BUY,138360,183.25,-
21-APR-2010,NITINFIRE,Nitin Fire Protection Ind,RAJ FINVEST,BUY,77843,389.91,-
21-APR-2010,NORBTEAEXP,Norben Tea & Exp Ltd.,PACE FINCAP PRIVATE LIMITED,BUY,178150,15.13,-
21-APR-2010,NORBTEAEXP,Norben Tea & Exp Ltd.,SHAH ASHOK CHINUBHAI,BUY,100000,15.38,-
21-APR-2010,REPRO,Repro India Limited,KANCHAN CHHABRA,BUY,129143,118.40,-
21-APR-2010,REPRO,Repro India Limited,MANSUKH SECURITIES & FINANCE LIMITED,BUY,77969,118.59,-
21-APR-2010,REPRO,Repro India Limited,RAMAN KUMAR GULATI,BUY,177209,117.59,-
21-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,PACE FINCAP PRIVATE LIMITED,BUY,50000,55.87,-
21-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,PRABIR GHOSH,BUY,60000,59.53,-
21-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,119074,79.20,-
21-APR-2010,TATACOFFEE,Tata Coffee Limited,TRUPTI SHARAD SHAH,BUY,176159,400.00,-
21-APR-2010,TELEDATAIT,Teledata Technology Solut,DELIGHT FINANCIAL ADVISOR PVT LTD,BUY,3059049,3.41,-
21-APR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,100378,73.55,-
21-APR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAHUL DOSHI,BUY,171527,73.77,-
21-APR-2010,ZEENEWS,Zee News Limited,TRANSGLOBAL SECURITIES LTD.,BUY,1446084,17.96,-
21-APR-2010,AQUA,Aqua Logistics Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,103036,335.85,-
21-APR-2010,ARSSINFRA,ARSS Infra Proj. Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,83032,1313.23,-
21-APR-2010,CENTEXT,Century Extrusions Limite,BHARAT SHANKAR PHAPALE,SELL,407713,11.76,-
21-APR-2010,CENTEXT,Century Extrusions Limite,SUVRIDHI CAPITAL MARKETS LIMITED,SELL,500000,11.75,-
21-APR-2010,FCSSOFT,FCS Software Solutions Li,MANISH RATILAL SHAH,SELL,3730178,5.10,-
21-APR-2010,GEOMETRIC,Geometric Limited,MANISH VRAJLAL SARVAIYA,SELL,571177,79.19,-
21-APR-2010,GOENKA,Goenka Diamond&Jewels Ltd,SALASAR STOCK BROKING LTD.,SELL,252527,114.90,-
21-APR-2010,GSSAMERICA,GSS America Infotech Limi,VAIBHAV DOSHI,SELL,47951,349.97,-
21-APR-2010,HANUNG,Hanung Toys and Textiles,AASHKA CONSTRUCTION PVT LTD,SELL,289550,256.04,-
21-APR-2010,KOPRAN,Kopran Ltd.,CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED,SELL,229162,35.76,-
21-APR-2010,MSKPROJ,MSK Projects (India) Limi,SURBHI TRADING CO, PVT LTD,SELL,49174,184.76,-
21-APR-2010,NITINFIRE,Nitin Fire Protection Ind,RAJ FINVEST,SELL,74553,395.32,-
21-APR-2010,NORBTEAEXP,Norben Tea & Exp Ltd.,PACE FINCAP PRIVATE LIMITED,SELL,178150,15.36,-
21-APR-2010,NORBTEAEXP,Norben Tea & Exp Ltd.,SHAH ASHOK CHINUBHAI,SELL,100000,15.38,-
21-APR-2010,REPRO,Repro India Limited,KANCHAN CHHABRA,SELL,129143,118.56,-
21-APR-2010,REPRO,Repro India Limited,MANSUKH SECURITIES & FINANCE LIMITED,SELL,77969,118.44,-
21-APR-2010,REPRO,Repro India Limited,RAMAN KUMAR GULATI,SELL,177209,118.29,-
21-APR-2010,RSSOFTWARE,R. S. Software (I) Ltd.,PACE FINCAP PRIVATE LIMITED,SELL,50000,58.98,-
21-APR-2010,SHREEASHTA,Shree Ashtavinayak Cine V,MAVI INCESTMENT FUND LIMITED(GDR),SELL,4999998,12.21,-
21-APR-2010,SYNCOM,Syncom Healthcare Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,119074,79.26,-
21-APR-2010,TATACOFFEE,Tata Coffee Limited,CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LTD,SELL,166436,400.24,-
21-APR-2010,TELEDATAIT,Teledata Technology Solut,DELIGHT FINANCIAL ADVISOR PVT LTD,SELL,2727382,3.46,-
21-APR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,92878,73.48,-
21-APR-2010,TEXMOPIPES,Texmo Pipe & Products Ltd,RAHUL DOSHI,SELL,132010,73.78,-
21-APR-2010,UTVSOF,UTV Software Communicatio,GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD FDI,SELL,249406,438.03,-
21-APR-2010,ZEENEWS,Zee News Limited,TRANSGLOBAL SECURITIES LTD.,SELL,1446084,17.95,-
D- street looks for triggers
Today's major news
Zee Entertainment’s Q4FY2010 net up at Rs107.51 crore; the stock surges 2.49%
HCL Technologies’ Q3 net profit up at $76.6 million; the stock jumps 8.32%
Car loans rise 18% in FY2010
Click here for more stories
Global signals
With banking scrips down, European equities erased their morning gains to turn negative. As of writing of this report, FTSE 100 (London) was quoting 0.71% lower.
All the major Asian indices baring Hang Seng (Hong Kong) and Straits Times (Singapore) closed higher. SGX Nifty closed 5 points up.
US stock futures point a flat start for the Wall Street on Wednesday. Earnings of Morgan Stanley will be in focus.
Indian indices
The domestic market managed to close higher for the second day in succession on buying in realty and banking bourses in wake of favourable monetary policy review yesterday.
Leveraging on realty and banking scrips—the sectors that found favour in credit policy review yesterday— bulls took the Sensex 100+ points higher from a slightly negative opening today. But, the going got tough on soft opening in European equities with bears pulling the Sensex 15 points lower than its yesterday’s closing. In a consolatory win, Sensex ended 12 points higher at 17472 and Nifty signed off the day at 5245, 15 points up.
Market sentiment
Advancing scrips outdid declining shares by around 2:1. Of the 2,985 stocks traded on the BSE, 1,915 stocks advanced, whereas 965 stocks declined. Hundred and five stocks closed unchanged.
Sectoral & stock screening
Of the 13 sector indices on the BSE, only capital goods (CG), oil and gas, and metal did not find favour and were down 0.57%, 0.41% and 0.04% respectively. BSE Realty surged the most by 1.68% followed by BSE Bankex that rose by 1.25% for the day.
The picks of the day were HCL Technologies (up 8.32%), Godrej Industries (higher 5.80%) and Yes Bank (5.45% up). The losers include Cadila Healthcare (down 3.65%), Sun Pharmaceutical Industries ( lower 2.87%) and Lupin (1.81% down).
Viewing volumes
India’s second largest realty major Unitech was the most actively traded share with over 1.51 crore shares changing hands on the BSE, followed by steel maker Ispat Industries (0.47 crore shares), Industrial finance company IFCI (0.33 crore shares), healthcare chain Fortis Healthcare (0.32 crore shares) and wind turbine major Suzlon Energy (0.28 crore shares)
Most sectoral indices on BSE rise
The key indices settled marginally higher extending previous day's gains after the Reserve Bank of India (RBI) raised interest rates on Tuesday, 20 April 2010, by less than some economists had expected and forecast inflation will slow. Buying in mid and small-cap stocks kept the market breadth strong throughout the day. The barometer index BSE Sensex rose 11.98 points or 0.07%, off close to 93 points from the day's high and up close to 26 points from the day's low. Ten out of thirteen sectoral indices on BSE rose.
NSE's volatility index India VIX slumped for the second day in a row after the annual monetary policy was unveiled by the central bank during trading hours on Tuesday, 20 April 2010. Typically, volatility rises ahead of a key event and it falls after the event. India VIX lost 7.86% to 19.23. The current low level of the index also indicates that investors are willing to take risk.
The market pared gains after a firm start triggered by higher Asian stocks. The market regained strength, surging to a fresh intraday high in morning trade. The market moved in a range in mid-morning trade. Stocks once again pared gains in early afternoon trade. The market slipped into the red to hit a fresh intraday low in afternoon trade. The market moved between positive and negative terrain near the flat line in mid-afternoon trade.
European shares turned negative on Wednesday, with losses in banks overshadowing gains in technology shares which rose after strong results from Apple Inc. The key benchmark indices in UK, France and Germany fell 0.21% and 0.86%.
Asian stocks rose on Wednesday, as better-than-estimated results from Elpida Memory Inc. and Apple Inc. boosted confidence in the global economic recovery. The key benchmark indices in China, Indonesia, Japan, South Korea and Taiwan rose by between 0.75% to 1.8%. But key benchmark indices in Hong Kong and Singapore fell by between 0.46% to 0.52%.
Trading in US index index futures indicated that the Dow could shed 24 points at the opening bell on Wednesday, 21 April 2010.
US Stocks ended higher on Tuesday after some good earnings reports. The Dow Jones Industrial Average rose 25.01 points or 0.23% to 11,117.06. The S&P 500 gained 9.65 points or 0.81% to 1207.17. The Nasdaq Composite index rose 20.20 points or 0.81% to 2500.31.
Concern over public debt could prolong the credit crisis although Greece is a special case and should not be compared to other euro zone members, the International Monetary Fund said on Tuesday. The IMF said the health of the global financial system had improved alongside a fragile recovery in the world economy, but that investors' nerves over rising levels of public debt could undermine stability gains made so far.
Back home, investors heaved a sigh of relief after a small hike in short term interest rates and the cash reserve ratio (CRR) by the central bank at its annual policy review on Tuesday, 20 April 2010. The Reserve Bank of India (RBI) raised repo rate, reverse repo rate and CRR by 25 basis points each. Analysts were expecting a 25 to 50 basis points hike in short term rates and the CRR. The RBI said it will continue to monitor macroeconomic conditions, particularly the price situation closely and take further action as warranted.
The hike in CRR is effective from 24 April 2010 while the hike in repo and reverse repo rates was with immediate effect. After the hike, the CRR will increase to 6%, the repo rate to 5.25% and the reverse repo to 3.75%. Repo is the rate at which the central bank lends to banks and reverse repo is the rate at which the central bank absorbs excess cash from the banking system. CRR is the portion of deposits banks must set aside with the RBI.
The RBI said there is need to move in a calibrated manner in the direction of normalising its policy instruments given that the economic recovery is firmly in place. The latest CRR hike will suck out excess liquidity of Rs 12500 crore from the banking system. According the central bank, non-food credit growth is expected at 20% in the year ending March 2011 (FY 2011).
The central bank said it has to do a fine balancing act and ensure that while absorbing excess liquidity, the government borrowing programme is not hampered. Notwithstanding lower budgeted government borrowings for FY 2011, fresh issuance of securities will be 36.3% higher than in the previous year, the central bank said.
The RBI said the economy is recovering rapidly from a slowdown but inflationary pressures, which were triggered by supply side factors, are now developing into a wider inflationary process. The central bank said there in uncertainty about the shape and pace of ongoing global economic recovery.
The central bank expects India's economy to expand 8% in the year ending March 2011 (FY 2011) with an upward bias, assuming a normal monsoon this year and sustenance of good performance of the industrial and services sectors on the back of rising domestic and external demand. The quick rebound of the Indian economy in the year ended March 2010 (FY 2010) despite the failure of monsoon rainfall suggests that the Indian economy has become resilient, the RBI said. Growth in FY 2011 is expected to be more broad-based than in FY 2010. Prime Minister Manmohan Singh today pegged India's GDP growth at 8.25% for FY 2011.
The central bank has pegged headline inflation for end-March 2011 at 5.5%, lower than near double digits in the month of March 2010. According to RBI three major uncertainties cloud the outlook for inflation. First, the prospects of the monsoon in 2010-11 are not yet clear. Second, crude prices continue to be volatile. Third, there is evidence of demand side pressures building up.
The monsoon holds key. 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. The June-September monsoon season is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary P K Basu said in a media interview on Monday, 5 April 2010, that early signs indicate normal monsoon rains this year. 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.
A weakening El Nino is a positive sign for the monsoon, Ajit Tyagi, director general at the India Meteorological Department, had said on 18 March 2010.
Coming back to stocks, the focus is on the fourth quarter corporate results and outlook provided by management for the current year. The combined net profit of a total of 99 companies rose 21.8% to Rs 7296 crore on 18.4% rise in sales to Rs 46492 crore in the quarter ended March 2010 over the quarter ended March 2009.
The BSE 30-share Sensex rose 11.98 points or 0.07% to 17,472.56. The index fell 14.07 points at the day's low of 17,446.51 in mid-afternoon trade. The Sensex rose 104.97 points at the day's high of 17,565.55 in morning trade.
The S&P CNX Nifty rose 14.80 points or 0.28% to 5244.90.
The BSE Mid-Cap index rose 0.96% and the BSE Small-Cap index rose 1.38%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market was strong. On BSE, 1915 shares advanced as compared with 965 that declined. A total of 105 shares remained unchanged.
BSE clocked turnover of Rs 4646 crore, higher than Rs 4631.26 crore on Tuesday, 20 April 2010.
Most sectoral indices on BSE gained. The BSE Realty index (up 1.68%), Bankex (up 1.25%), Auto index (up 1.10%), Consumer Durables index (up 0.87%), Power index (up 0.72%), FMCG index (up 0.45%), Healthcare index (up 0.42%), PSU index (up 0.40%), Teck index (up 0.22%) and IT index (up 0.19%), outperformed the Sensex.
Metal index (down 0.04%), Oil & Gas index (down 0.41%) and Capital Goods index (down 0.57%), underperformed the Sensex.
From the 30 share Sensex pack, 16 stocks rose while the rest declined.
Index heavyweight Reliance Industries (RIL) fell 0.91% to Rs 1,054.20. The stock came off the day's high of Rs 1073.95. RIL is seen reporting strong Q4 March 2010 results on the back of higher gas output from the prolific Krishna-Godavari basin. RIL announces Q4 results on 23 April 2010.
RIL on 9 April 2010 said the company will pay $1.7 billion to form a joint venture at one of the most promising natural gas deposit regions in the US with Atlas Energy, becoming the latest foreign company to invest in shale plays that are expected to be very lucrative. The firm will pick up a 40% stake in Atlas's operations in the booming Marcellus Shale, a gas project that spans parts of Pennsylvania, West Virginia and New York in the United States and which, according to some geologists, could hold enough natural gas to satisfy US demand for a decade.
India's second largest software exporter by sales, Infosys Technologies, fell 0.33%, reversing early gains, on a firm rupee. A firm rupee adversely affects operating profit margin of IT firms as the sector derives a lion's share of revenue from exports.
India's largest information technology services provider by sales, TCS fell 0.47%, reversing early gains. The stock had fallen 2.74% on Tuesday, 20 April 2010. The company posted 9.7% growth in consolidated net profit as per Indian accounting standards to Rs 2,001 crore on 1.17% rise in revenues to Rs 7738 crore in Q4 March 2010 over Q3 December 2009. The result was announced after the market hours on Monday 19 April 2010.
At the time of announcing the results, TCS chief executive officer and managing director N Chandrasekaran said the company's sales and execution machine is primed and the company has laid a solid platform for growth. There is a significant traction for TCS' strategy of full services which together with TCS' global engagement model positions the company well for accelerated growth, Chandrasekaran said.
The Indian rupee was stronger on Wednesday helped by the dollar's drop against some major currencies. The partially convertible rupee was at 44.43/44 per dollar, stronger than its close of 44.52/53 on Tuesday.
India's largest engineering and construction firm by sales Larsen & Toubro (L&T) fell 0.95% on profit taking. The company, recently received an order worth Rs 1,060 crore from Gujarat State Petroleum Corporation (GSPC) to build an offshore oil platform.
India's largest power equipment maker by sales Bharat Heavy Electricals declined 1.40%.
Realty majors gained for the second straight day after the Reserve Bank of India kept risk weightage on loans to commercial real estate sector unchanged at its annual monetary policy review on Tuesday. Sobha Developers, Indiabulls Real Estate, Parsvnath Devlopers, Housing Development & Infrastructure, Peninsula Land and DLF, rose between 0.33% to 3.91%. A section of the market was expecting the Reserve Bank of India to raise the risk weightage on loans to commercial real estate to prevent asset bubbles.
Unitech rose 2.46% after the board of director of the company at a meeting held on 20 April 2010 approved demerger of non-core operations comprising of telecommunications, hotels, special economic zones, logistics, transmission towers and others into a separate entity called Unitech Infra. For every one share of Unitech, the shareholders will get one share of Unitech Infra, which will be listed at a later date.
The board also approved the amalgamation of two wholly owned subsidiaries, Aditya Properties and Unitech Holdings, with Unitech. The board also approved hiving off the shares and investments held in Unitech's telecommunications business to a wholly-owned subsidiary of Unitech Infra.
Banking majors rose for the second straight day after RBI raised interest rates on Tuesday by less than some economists had expected and forecast inflation will slow. India's largest bank by net profit and branch network State Bank of India rose 0.34%, reversing early losses. Punjab National Bank rose 1.80%. But, Bank of Baroda fell 1.56%.
India's largest private sector bank by net profit ICICI Bank rose 2.01%, extending Tuesday's 1.49% gains. But, India's second largest private sector bank by net profit HDFC Bank fell 0.2%.
Axis Bank jumped 4.44% extending Tuesday 2.51% gains triggered by strong Q4 results. Net profit jumped 31.54% to Rs 764.87 crore in Q4 March 2010 over Q4 March 2009. The result was announced during market hours on Tuesday, 20 April 2010.
India's largest mortgage finance firm by total income Housing Development Finance Corporation (HDFC) was almost flat. The company, last week, launched a Dual Rate Product-2 (DRHL-2) in which home loan interest rates will be fixed rate at 8.25% annually up to 31 March 2011, 9% for the period between 1 April 2011 and 31 March 2012, and the applicable floating rate for the balance term. The offer is for loan application made before 30 April 2010 and at least part-disbursement taken before 30 June 2010.
The Reserve Bank of India said recently banks would determine their lending rates with reference to the base rate, effective 1 July 2010. To stabilise the system of base rate calculation, banks are allowed to change the benchmark and methodology anytime
Hindustan Zinc rose 0.66% after net profit surged 124.67% to Rs 1238.99 crore in Q4 March 2010 over Q4 March 2009.
Concurrent (India) Infrastructure was locked at 5% upper limit at Rs 23.65, after net profit galloped 5837.5% to Rs 4.75 crore in Q4 March 2010 over Q3 December 2009.
Electrothem (India) surged 5.06%, after the company signed a pact to acquire 100% stake in Kolkata based Shree Ram Electro Cast for a consideration of up to Rs 85 crore.
ARSS Infrastructure Projects clocked a highest turnover of Rs 186.23 crore on BSE. Unitech (Rs 129.19 crore), Axis Bank (Rs 101.65 crore), State Bank of India (Rs 85.32 crore) and Jubilant FoodWorks (Rs 77.46 crore), were the other turnover toppers on BSE.
FCS Software Solutions reported a highest volume of 2.66 crore shares on BSE. Cals Refineries (1.59 crore shares), Unitech (1.50 crore shares), Birla Power Solutions (1.01 crore shares) and Century Extrusions (58.92 lakh shares), were the other volume toppers on BSE.
Grey Market Premiums - Apr 21 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Talwalkars Better Value Fitness Ltd. | 123 to 128 | 20 to 22 (Seller) |
| Nitesh Estate | 54 to 56 | 8 to 10 |
| Tarapur Transformers | 65 to 75 | 7 to 8 |
| Sutlaj Jal Vidhut Nigam (SJVNL) | -- | 2 to 2.50 |
Market to open strong on positive global cues
Headlines for the day:
SpiceJet to raise Rs335 crore, strategic sale possible
P&G faces growing backlash over updated Pampers
3G bids: Govt to get at least Rs25,500 crore
Events for the day:
Major corporate action
Ex-date for dividend of Advanta India and ITD Cem India
Results: HCL Tech, Hindustan Zinc, Piramal Health, United Spirits
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European stock markets closed higher overnight, buoyed by strong US corporate results, notably from under-fire US investment bank Goldman Sachs and positive German data.
The US stocks rose on Tuesday as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations.
In today's trade, the Asian markets were trading on a positive note. At the time of writing this report, SGX Nifty was trading 28 points higher.
Indian markets
Higher commodity prices, strong corporate earnings results dampened worries over the Goldman fraud case and pulled up the world indices with the strong positive bias. Few companies will be announcing its results today, the investors back home will be keenly waiting for those results. The Indian indices may open gap-up with the strong positive bias owing to the upbeat global recovery. The foreign institutional investors (FIIs), which where the net buyers from post the budget, yesterday, it were the net sellers of Rs475.70 crore. The Indian markets have been the slave of the foreign money over the years, thus one has to see the FIIs movement, which is one of the key determinant of the market movements.
Commodity cues
In the commodity space, the crude oil prices rose on Tuesday for the first time in three days as strong corporate earnings reports dampened worries over the Goldman fraud case, with the Nymex light crude oil for the May series rose by $2.00 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $3.40 and the Comex Silver for the May series was up by $0.09 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On April 20, 2010, the FIIs were the net sellers of the Indian stocks to the tune of Rs475.70 crore, whereas the domestic mutual funds, on April 19, 2010, were the net sellers of the stocks to the tune of Rs119.60 crore.
Market may extend gains on positive global cues
The market may edge higher for the second straight day on positive global cues with good earnings reports boosting sentiment. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicated that the Nifty could gain 18 points at the opening bell. Asian stocks rose on Wednesday, as better-than- estimated results from Elpida Memory Inc. and Apple Inc. boosted confidence in the global economic recovery. The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea, Singapore and Taiwan rose by between 0.01% to 1.54%.
US Stocks ended higher on Tuesday after some good earnings reports. The Dow Jones Industrial Average rose 25.01 points or 0.23% to 11,117.06. The S&P 500 gained 9.65 points or 0.81% to 1207.17. The Nasdaq Composite index rose 20.20 points or 0.81% to 2500.31.
Concern over public debt could prolong the credit crisis although Greece is a special case and should not be compared to other euro zone members, the International Monetary Fund said on Tuesday. The IMF said the health of the global financial system had improved alongside a fragile recovery in the world economy, but that investors' nerves over rising levels of public debt could undermine stability gains made so far.
Back home, investors heaved a sigh of relief after a small hike in short term interest rates and the cash reserve ratio (CRR) by the central bank at its annual policy review on Tuesday, 20 April 2010. The Reserve Bank of India (RBI) raised repo rate, reverse repo rate and CRR by 25 basis points each. Analysts were expecting a 25 to 50 basis points hike in short term rates and the CRR. The RBI said it will continue to monitor macroeconomic conditions, particularly the price situation closely and take further action as warranted.
The hike in CRR is effective from 24 April 2010 while repo and reverse repo rate hikes are applicable immediately. After the hike, the CRR will increase to 6%, the repo rate to 5.25% and the reverse repo to 3.75%. Repo is the rate at which the central bank lends to banks and reverse repo is the rate at which the central bank absorbs excess cash from the banking system. CRR is the portion of deposits banks must set aside with the RBI.
The RBI said there is need to move in a calibrated manner in the direction of normalising its policy instruments given that the economic recovery is firmly in place. The latest CRR hike will suck out excess liquidity of Rs 12500 crore from the banking system. According the central bank, non-food credit growth is expected at 20% in the year ending March 2011 (FY 2011).
The central bank said it has to do a fine balancing act and ensure that while absorbing excess liquidity, the government borrowing programme is not hampered. Notwithstanding lower budgeted government borrowings for FY 2011, fresh issuance of securities will be 36.3% higher than in the previous year, the central bank said.
The RBI said the economy is recovering rapidly from a slowdown but inflationary pressures, which were triggered by supply side factors, are now developing into a wider inflationary process. The central bank said there in uncertainty about the shape and pace of ongoing global economic recovery.
The central bank expects India's economy to expand 8% in the year ending March 2011 (FY 2011) with an upward bias, assuming a normal monsoon this year and sustenance of good performance of the industrial and services sectors on the back of rising domestic and external demand. The quick rebound of the Indian economy in the year ended March 2010 (FY 2010) despite the failure of monsoon rainfall suggests that the Indian economy has become resilient, the RBI said. Growth in FY 2011 is expected to be more broad-based than in FY 2010.
The central bank has pegged headline inflation for end-March 2011 at 5.5%, lower than near double digits in the month of March 2010. According to RBI three major uncertainties cloud the outlook for inflation. First, the prospects of the monsoon in 2010-11 are not yet clear. Second, crude prices continue to be volatile. Third, there is evidence of demand side pressures building up.
The monsoon holds key. 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. The June-September monsoon season is important for India as about 60% of the country's farmlands are rain-fed and more than half of the workforce is employed in the agriculture sector.
Tokyo-based Research Institute for Global Change has predicted normal monsoon rains in India for the current year. Agriculture secretary P K Basu said in a media interview on Monday, 5 April 2010, that early signs indicate normal monsoon rains this year. 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.
A weakening El Nino is a positive sign for the monsoon, Ajit Tyagi, director general at the India Meteorological Department, had said on 18 March 2010.
Coming back to stocks, the focus is on the fourth quarter corporate results and outlook provided by management for the current year. The combined net profit of a total of 91 companies rose 20.5% to Rs 6954 crore on 18.4% rise in net sales to Rs 44455 crore in the quarter ended March 2010 over the quarter ended March 2009.
Hindustan Zinc, United Spirits, Zee News, TVS Motor Company, Polaris Software, Infotech Enterprise, among others will announce their result for the January-March 2010 quater today.
The key benchmark indices registered small gains on Tuesday, 20 April 2010 snapping loses in the preceding five trading sessions, after the Reserve Bank of India (RBI) announced a small increase in policy rates at a monetary policy review and forecast inflation will slow. Firm global stocks supported the domestic bourses. The BSE 30-share Sensex rose 59.90 points or 0.34% to 17,460.58 on Tuesday.
As per provisional figures on NSE, foreign funds sold shares worth Rs 156.65 crore and domestic funds bought shares worth Rs 101.28 crore on Tuesday.
Strong day for base metals
Hopes of economic recovery pull prices higher
Copper prices ended higher at Comex on Tuesday, 20 April 2010. Prices rose as overall sentiments improved following better than expected batch of earning reports. Hopes of quick economic recovery boosted prices.
At USA, copper futures for July delivery ended higher by 1.75 cents (0.5%) at $3.5355 a pound on Tuesday. The contract had shed 3.1% in past three sessions. Last week, prices lost 1.5%. In March, copper gained 7.5%. Copper gained about 6% for the first quarter, buoyed by data from the U.S. and other countries reinforced expectations that the global economic recovery was on track. On a year to date basis, in 2010, copper is higher by 4.6%.
Prices have increased by almost 68% in the past twelve months due to higher imports from China. Copper ended FY 2009 higher by 140%.
On Tuesday, at LME, copper for delivery in three months ended higher by $95 (1.2%) at $7,790. Prices had crossed the $8,000 mark for first time since 2008 last Tuesday, 6 April. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
Goldman Sachs triggered a selloff last week when it was learned that the firm was charged with fraud by the SEC, but the company came back into focus this morning. Though the company bested earnings expectations with ease, concern about fallout from fraud charges was stoked by news that Britain's financial regulator started a formal enforcement investigation into the firm.
There were a bevy of other blue chips out with better-than-expected results and IBM and Johnson & Johnson were among them. Among other widely held names, Coca-Cola topped the consensus earnings estimate and Procter & Gamble hiked its dividend. These reports improved overall sentiments and raised hopes of crude demand in coming months.
In the currency market on Tuesday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell initially but then rose by 0.15%.
Copper ended substantially higher last year on expectations of revived global economic growth along with a decline in the dollar. The dollar index had dropped almost 4.2% last year. The metal was also pushed higher by record first-half imports to China, the world's largest user.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
At the MCX, copper for April delivery closed lower by Rs 0.4 (0.11%) at Rs 344.4/Kg. Prices rose to a high of Rs 348.51/Kg and fell to a low of Rs 344.1/Kg during the day's trading.
Among other metals traded in the LME on Tuesday, lead ended 3.5% higher at $2,320 a ton and zinc ended 1.8% higher at $2,445 a ton. Nickel ended 0.6% higher at $27,550. Aluminum ended 0.9% higher at $2,415 a ton.
GSPL
Traders with short-term perspective can consider buying the stock of Gujarat State Petronet. The stock was in a medium-term correction from its 52-week high of Rs 104 recorded in December 2009 till February 2010 low of Rs 82. Recently, the stock took twin support (21- and 50-day moving average as well as uptrend-line) at Rs 89 and bounced up reinforcing the bullish momentum by surging 4.4 per cent on April 20. This up move came with high volume. The daily relative strength index is on the verge of entering in to the bullish zone from the neutral region and weekly RSI is rising towards the bullish zone. Moreover, both the daily and weekly moving average convergence and divergence indicators are featuring in the positive territory.
Taking into consideration that the stock's long-term uptrend is intact and the medium-term correction has ended, we are bullish on the stock from a short-term perspective. The stock has the potential of heading higher until it hits our price target of Rs 96.5 and the next target of Rs 100 in the forthcoming trading sessions. Short-term traders can buy the stock with stop-loss at Rs 91.
via BL
Daily News Roundup - Apr 21 2010
Tata Power has made a direct offer to the state government to transfer it some parts of the distribution network owned by RInfra to save Mumbai from the tariff hike proposed by RInfra. (ET)
M&M said that its foray into the mini-truck segment through Maxximo, which was launched in the northern and western regions only about a month back, has garnered about 25% of the market share in these regions. (BS)
Real estate major Unitech announced a demerger swap ratio of 1:1, following its decision to hive off non-core operations such as telecom, SEZs, logistics, hotels, transmission towers and others into a separate entity called Unitech Infra Ltd. (BL)
The strong rebound in demand for software services has prompted TCS to earmark an ‘all-time high' capital expenditure of over Rs22bn for this fiscal. (BL)
TCS plans to hire about 3,000 people in FY11 across its global delivery centers to bring onsite support to its clients. (FE)
Suzlon Energy’s subsidiary, REpower Systems AG, bagged a contract for supply of 44 wind turbines for a project in Turkey. (FE)
Japanese drug major Daiichi Sankyo, which owns 63.9% in Ranbaxy, failed to convert the warrants issued by the latter into shares during the stipulated 18-month period. (BS)
Maruti Suzuki crossed the milestone of rolling out 0.3mn K-Series engines, its latest generation engine which powers new models, including A Star, Swift, Swift Dzire and Ritz. (ET)
International Finance Corporation plans to invest US$75mn (Rs3.3bn) in IDFC to make investments in renewable energy as well as cleaner production and energy-efficiency projects across the country. (BS)
Procter & Gamble’s biggest bet on a new diaper in 25 years has run afoul of some parents who say their babies suffered rashes and burns after using them. (BS)
Uttar Pradesh government gave its nod to Bajaj Hindustan to set up its 1,980MW coal-fired power plant in Lalitpur district of Bundelkhand region. (BS)
SpiceJet has received its board’s approval to raise US$50-75mn to fund its international expansion. (BS)
Strides Arcolab bought back FCCBs worth US$34mn that were due this year. (BL)
Bharati Shipyard plans to appoint two of its members as executive directors on the board of Great Offshore in an attempt to correct an incongruous situation that arose after it bought GOL in a hotly-contested takeover battle last year. (ET)
Binani Cement said its board will meet on April 23 to consider a share buy-back proposal. (FE)
Everonn Kompass, a division of Chennai-based Everonn Education Ltd, opened its centre in Kurnool, Andhra Pradesh. (BL)
Education solutions provider CORE Projects & Technologies bagged Rs1.2bn order from the Government of Maharashtra to implement technology infrastructure at 947 schools in the State for five years. (BL)
GSS America, specializing in providing managed IT services, has been awarded a US$5mn contract to provide an end-to-end e-governance and e-procurement solution to the Bangladesh Government. (BL)
Hanung Toys & Textiles bagged an export order worth US$90mn from a leading US buyer. (ET)
The government plans to raise Rs130bn by selling shares in Coal India Ltd in July, the country’s biggest initial public offering. (BS)
Jai Prakash Power Ventures Ltd has signed a lease agreement with Kerala Industrial Infrastructure Development Corporation for setting up a 240MW coal-based thermal power plant, 1.5mtpa cement grinding unit and a jetty in 164.2 acres of land at its industrial park at Kalliassery and Pappinissery villages in Kannur district. (BL)
Essar Shipping Ports and Logistics signed a licence agreement with Paradip Port Trust to invest Rs5bn in a dry bulk cargo berth. (ET)
The RBI raised the repo and reverse repo rates by 25bps each, effective today and CRR by 25bps, but effective from Friday. (BS)
The RBI will now allot bank licenses to private sector players and NBFCs. (BS)
In an effort to promote the corporate bond market, the RBI has permitted banks to treat their exposure to unlisted non-statutory liquidity ratio debt securities as an investment in listed securities at the time of making investments. (BS)
The RBI has made registration of core investment companies with assets of over Rs1bn mandatory. (BL)
The RBI announced that it will allow banks to treat annuity payments and toll collection rights for highways built on BOT model as secured loans. (BL)
MCX Stock Exchange is likely to start trading in equities in the next two-to-three months, a top company official said. (BS)
Low-grade iron ore miners in Goa reduced their production by 30% to avoid stockpiling ahead of the monsoon. (BS)
The government would rake in at least Rs255bn from the auction of 3G spectrum as the pan-India licence on the ninth day reached a bid of Rs63.5bn, up 81.5% from the base price of Rs35bn. (BS)
The Department of Pharmaceuticals has declined the commerce ministry’s proposal to incorporate intellectual property protection clauses, which go beyond the existing rules, as part of the free trade agreements being negotiated with the European Union and Japan. (BS)
Gujarat government plans to set up a dedicated SEZ for offsets in the defense sector. (BS)
Rising demand from China and India, coupled with global recovery, is driving thermal coal prices that have appreciated by about a fourth in the past few months. (BL)
Gains to spillover
"Expect nothing. Live frugally on surprise."
The RBI never fails to surprise. Just when the markets feared an all-out assault on inflation comes an unexpectedly dovish policy action. However, the policy document itself points to several pressure points – like the spike in non-food inflation, volatile crude oil prices and fiscal deficit. That means there is a chance of some inter-meeting action if the need arises. Monsoon of course remains the joker in the pack along with the global factors.
The immediate concern is some tapering off in FII inflows. In addition, we have a long road ahead as far as earnings are concerned. Technically too, the key indices are facing some resistance. So, it makes sense to stay a little guarded in the near term although the medium-to long-term looks promising. Today we expect a follow-through rally at the start. Things might turn choppy and rangebound depending on the results and other newsflow. Stick to stock centric action and do proper due diligence to avoid any major heartburn.
Unitech will be in action as its board has approved a demerger.
Results Today: HCL Tech, Hindustan Zinc, Infotech Enterprises, Polaris Software, TVS Motor, United Spirits and Zee News.
FIIs were net buyers of Rs1.56bn on Tuesday on a provisional basis. Local funds were net buyers of Rs1bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs560.8mn. On Monday, FIIs were net sellers of Rs4.75bn in the cash segment, as per the SEBI web site.
Indian markets ended with modest gains, closing higher for the first time in five trading sessions after the RBI announced a moderate hike in policy rates. In the run-up to the RBI policy, there were some apprehensions of a more aggressive central action as inflation is hovering around 10%.
The RBI hiked the policy rates and the CRR by 25bps each. "FY11 GDP forecast at 8% with an upward bias and moderation in inflation target to 5.5% helped ease some tension owing to global factors. Also, given the front-loading of the government borrowing programme and abundant liquidity in the system interest rates are unlikely to spike sharply in the short term," says Amar Ambani, Vice President – Research, IIFL.
The BSE Sensex gained 60 points to end at 17,461 and NSE Nifty gained 26 points to close at 5,230. Among the 30 components of Sensex, 20 ended in the positive terrain and 10 were in the red.
Markets in Asia ended in the green; Hang Seng index in Hong Kong was up 1%, Australia's S&P/ASX was up by 0.21%. However, the Nikkei in Japan was down 0.2% and Shanghai SE Composite ended flat.
On the other hand, European indices were also trading with positive bias, the DAX in Germany was up 1.2%, the CAC 40 index in France was up 1% and the FTSE in the UK was up 0.8%.
Coming back to India, among the BSE sectoral indices, the BSE Realty index was top gainer, the index gained 3%, followed by BSE Banking index up 1.5% and PSU index up 1.5%.
Even the Mid-Cap and the Small-cap index ended in the green, both the indices added 1.3% and 1.5% respectively.
Outside the frontline indices, the big gainers in the broader market were P&G, Nagarjuna Const, Adani Ent and Piramal Health. On the other hand, losers included Godrej Cons, Jain Irrigation, Castrol and EIH.
TCS slipped sharply after opening with smart gains, the stock erased all its early gains and ended lower by 2.8% at Rs790. The company reported its consolidated financial results according to Indian GAAP for the quarter and financial year ended March 2010.
For the fourth quarter ended 31st March 2010, net profit stood at Rs20.01bn up 50.1% YoY and 9.7% QoQ. The revenue stood at Rs77.38bn up 7.9% YoY and 1.17% QoQ. The operating profit stood at Rs21.65bn up by 29.1% YoY. For the financial year ended 31st March 2010, net profit stood at Rs70.01bn up 33% and operating profit stood at Rs80.18bn up by 21.91%.
Shares of Sesa Goa also pared their intra-day gains and ended lower by 0.6%% at Rs456 after the company posted a net profit of Rs9.6bn for the quarter ended March 31, 2010 where as the same was at Rs5.2bn for the quarter ended March 31, 2009. Total Income is Rs19.8bn for the quarter ended March 31, 2010 where as the same was at Rs14.08bn for the quarter ended March 31, 2010.
The Company posted a net profit of Rs21.18bn for the year ended March 31, 2010 where as the same was at Rs19.42bn for the year ended March 31, 2009. Total Income is Rs50.6bn for the year ended March 31, 2010 where as the same was at Rs49.96bn for the year ended March 31, 2010.
Shares of Shree Renuka Sugars gained by 1.7% to end at Rs68 after reports stated that the company is seeking to buy an additional 8% of Equipav SA Acucar e Alcool, the sugar and alcohol assets of Brazil’s Equipav Group.
Shares of GAIL India shot up by over 5% to end at Rs425 after reports stated that the petroleum and natural gas regulator proposed pipeline tariff revisions. The scrip opened at Rs412 it touched an intra-day high of Rs459 and a low of Rs412 and recorded volumes of over 1.5mn shares on BSE.
Shares of Strides Arcolab advanced by 6.5% to end at Rs363 after the company announced that it has redeemed US$34mn FCCBs, on due date. The Company had originally raised US$40mn FCCBs in the year 2005 and has bought back US$6mn during the year 2009. The total payout for redeeming the bonds was US$46.5mn as the Bonds were redeemable at a premium of 136.78%.
Post redemption of these FCCBs, the Company now has outstanding FCCBs worth US$80mn FCCBs out of the US$100mn raised In the year 2007. The 80 US$mn FCCB has an initial conversion price of Rs461.553 per share, and if not converted before June 27, 2012, are redeemable at a premium of 145.058%.
Commenting on the development, Mr. T.S. Rangan, Group CFO stated "The Company has diligently planned the redemption thereby reiterating its commitment in securing the interest of the Investors. We take this opportunity to thank the bond holders for the confidence reposed on us".
JK Tyre is reportedly planning to increase tyre prices by 3% to 5% from May 1, 2010. "I can tell you that from May 1 I am increasing the prices. We will have to think again in June," A.S. Mehta, director-marketing, was quoted as saying.
The scrip gained 2% to Rs199, it opened at Rs196 it touched an intra-day high of Rs202 and a low of Rs194 and recorded volumes of over 0.16mn shares on BSE.
Shares of Hanung Toys erased early gains and ended lower by 0.2% at Rs239. The stock hit an intra-day high of Rs245 after the company signed export order tie-up with a leading US buyer, for exporting Value Added Home Furnishing to the extent of US$90mn to be completed by December 2012. This agreement will bring greater strength and better margins to the Company.
Crude ends higher
Prices rise as earning reports boost sentiments
Crude oil prices ended higher at Nymex on Tuesday, 20 April 2010. Prices rose as overall sentiments improved following better than expected batch of earning reports. Prices pared some gains as dollar strengthened.
On Tuesday, crude-oil futures for light sweet crude for June delivery closed at $83.85/barrel (higher by $0.72 or 0.9%). Last week, crude ended lower by 1.2%. For the month of March, crude rose 5.1%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is higher by 4.4%.
Prices are still very much lower as compared to 3 July, 2008 settlement of $145.29 a barrel and an intraday high of $147.27 on 11 July, 2008, an all-time high. However, oil has also gained nearly 155% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
Goldman Sachs triggered a selloff last week when it was learned that the firm was charged with fraud by the SEC, but the company came back into focus this morning. Though the company bested earnings expectations with ease, concern about fallout from fraud charges was stoked by news that Britain's financial regulator started a formal enforcement investigation into the firm.
There were a bevy of other blue chips out with better-than-expected results and IBM and Johnson & Johnson were among them. Among other widely held names, Coca-Cola topped the consensus earnings estimate and Procter & Gamble hiked its dividend. These reports improved overall sentiments and raised hopes of crude demand in coming months.
In the currency market on Tuesday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell initially but then rose by 0.15%.
Among other energy related products on Tuesday, gasoline for June delivery gained 3 cents, or 1.1%, to finish at $2.29 a gallon. May heating-oil futures rose 2 cents to $2.18 a gallon.
On Tuesday, May natural-gas futures staged a comeback, ending the day ahead. The contract rose 3 cents to $3.97 per million British thermal units.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
At the MCX, crude oil for April delivery closed higher by Rs 35 (0.93%) at Rs 3,753/barrel. Natural gas for April delivery closed at Rs 176.2/mmbtu, higher by Rs 0.9 (0.51%).
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