Sterlite Industries

Sterlite Industries

IRB Infrastructure Developers

IRB Infrastructure Developers

Indian Bank

Indian Bank

Maruti Suzuki

Maruti Suzuki

Mandhana Industries IPO Note

Mandhana Industries IPO Note

Mandhana IPO Analysis

Mandhana IPO Analysis

Tara Health Foods IPO Analysis

Serving cattle and humans

Gets 60% of sales from cattle and poultry feed and 40% from edible oil

Promoted by Balwant Singh, Jaswant Singh and Kulwant Singh, Tara Health Foods is among the few organized players in the oil and animal nutrition industry in India catering to the needs of both human and animal nutrition. The company's products are divided into edible oil and cattle feed. These are marketed in north India through different points of sales set-up in Punjab, Delhi, Haryana, Himachal Pradesh, Uttranchal, Bihar and Jammu & Kashmir.

Presently, Tara Health Foods has a 500-tonne per day (tpd) capacity of cattle and poultry feed plant, with a 250-tpd unit in Malerkotla in Punjab and another 250-tpd unit at Sitarganj in Uttaranchal. The Uttaranchal plant was set up in 2007 to capture the northern market, rationalise logistic cost, to make available unhindered raw materials, and to take up the incentives and concessions offered by the Uttaranchal government. The company has a 250-tpd solvent extraction plant at Malerkotla. This was backward integration for continuous supply of raw materials, i.e., de-oiled cakes, a key ingredient of compounded cattle and poultry feed formulation. It also has a 120-tpd edible oil refining capacity at Malerkotla.

Tara Health Foods sells its products under various brands. Edible oils like rice bran oil, olive oil, and cottonseed oil, and a blend of rice bran oil and olive oil are sold under brands Tara Gold, Tara Lite, Tara Kotton, Zaitoon Tara, Tara Olive, and Tara Unique. For cattle feeds, the company has brands like Tara Feed, Rath Gold, Rath No. 1, Rath Panjiri, Rath Feed and Tara MIN (mineral mixture).

Growing at the CAGR rate of 130% since the last four years, Tara Health Foods recorded net sales of Rs 231.10 crore in the nine months ended December 2009, crossing the sales of Rs 195.18 crore achieved in fiscal ended March 2009 (FY 2009). About 60% of its sales are from cattle and poultry feed and 40% from edible oil. The operating profit margin (OPM) has also improved over the last four years. OPM stood at 15.6% in FY 2009 and increased to 24.1% in the nine months ended December 2009. Net profit was Rs 36.29 crore, thus enjoying a net profit margin of 16%, in the nine months.

Tara Health Foods intends to enter the capital markets to raise money in the range of Rs 180 crore to Rs 190 crore by issuing one crore equity shares of face value Rs 10 each in the price range of Rs 180 to Rs 190 per share. The funds are to be used to set up a Rs 125.32-crore 300-tpd edible oil refining plant at its existing location of Malerkotla, expand the existing 250-tpd cattle feed plant at Rs 4.52 crore, and augment the long-term working capital requirement of Rs 38.96 crore.

Strengths

The cattle/poultry feed is exempted from excise duty and value-added tax. Entitled to capital subsidy of Rs 0.5 crore from the ministry of food processing industry for manufacture of refined edible oil. The Uttaranchal plant enjoys tax benefits like 100% excise exemption, 100% income tax exemption for the first five year, and 30% tax deduction from income tax liability for the next five years, capital investment subsidy at 15% subject to a minimum of Rs 0.3 crore, and exemption of entry tax on plant and machinery.

Has filed for patent of its unique blend of refined rice bran oil and olive oil sold under the brand, Zaitoon Tara. This can be considered nutraceutical oil and has ideal combination of fatty acids and is anti-diabetic and anti-obesity.

Weaknesses

Operates in a price-conscious segment facing stiff competition from other organized and un-organized players.

The two-promoter group companies, Tara Feed Factory and Tara Heart Care Products, and one associate company, Tara Life Care Products, are in similar line of business.

Had negative operating cash flow of Rs 18.32 crore in the nine months ended December 2009, Rs 30.85 crore in FY 2009, Rs 19.12 crore in for FY 2008, Rs 6.52 crore in FY 2007, Rs 3.32 crore in FY 2006, and Rs 0.3 crore in FY 2005

Valuation

Tara Health Foods has set a price band of Rs 180 to Rs 190 per equity share of Rs 10 face value. At the lower band of Rs 180 per share, the P/E would be 11.2 times the annualised EPS of Rs 16.11 (on post-IPO equity) in the nine months ended December 2009 and 31.8 times the EPS of Rs 5.66 (on post-IPO equity) in FY 2009. At the upper price band of Rs 190 per share, the P/E would be 11.8 times the annualised EPS of Rs 16.11 in the nine months ended December 2009 and 33.6 times the EPS of Rs 5.66 in FY 2009. There is no comparable listed company.

via BL

Market drifts lower on weak global cues

The key benchmark indices edged lower, snapping last five days' gains, on weak global stocks. The BSE 30-share Sensex fell 54.66 points or 0.31%, off close to 80 points from the day's high and up close to 10 points from the day's low. The market breadth, indicating the overall health of the market was weak. That was in contrast to positive breadth earlier in the day. Banking, auto, metal and realty stocks fell. Index heavyweight Reliance Industries (RIL) extended Monday's losses triggered by disappointment from Q4 March 2010 results.

Stocks were volatile as traders rolled over positions in the derivatives segment from the April 2010 series to the May 2010 series ahead of the expiry of the near-month April 2010 contracts on Thursday, 29 April 2010. The market recovered from lower level after an initial slide triggered by weak Asian stocks. The market moved into positive zone from negative zone in morning trade as intraday recovery gathered steam. The market moved between positive and negative terrain near the flat line in mid-morning trade. The market once again weakened in early afternoon trade. The market extended losses in afternoon trade. The market trimmed losses later. It weakened once again in mid-afternoon trade. The Sensex hit a fresh intraday low in late trade.

NSE's volatility index India VIX rose 0.15% to 19.82. The current low level of the index indicates that investors are willing to take risk.

The latest data showed infrastructure sector output jumped 7.2% in March 2010 from a year earlier, higher than an upwardly revised rise of 4.7% in February 2010.

The Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 322 companies rose 30.7% to Rs 24064 crore on 43.4% rise in sales to Rs 209691 crore in the quarter ended March 2010 over the quarter ended March 2009.

Politics is in focus as the Congress-led United Progressive Alliance government faces Opposition sponsored cut motion in parliament today against a hike in petrol and diesel prices in the Union Budget 2010-2011. Prime Minister Manmohan Singh on Monday said he is confident that his government will defeat the cut-motions on the Budget proposals. BSP chief and Uttar Pradesh Chief Minister Mayawati today said she would back the government and not support the cut motion. BSP has 21 MPs in the Lok Sabha. If the cut motion is adopted, the government will have to step down.

European stocks were lower Tuesday, as uncertainty over the health of other indebted euro-zone nations weighed on sentiment following Greece's debt crisis. The key benchmark indices in France, Germany and UK fell by between 0.79% to 1.58%.

Confidence in Greek assets sank to a new low on Monday, as German Chancellor Angela Morkel kept up the Mpressure on Greece, insisting on tougher austerity measures. Questions persist about when and how the aid package to Greece of up to 45 billion euros ($60 billion) might be delivered.

Asian stock markets declined Tuesday after a directionless day on the Wall Street on Monday and as commodity prices declined. The key benchmark indices in China, Hong Kong, Indonesia, South Korea, Singapore and Taiwan fell by between 0.14% to 2.07%. But, Japan's Nikkei rose 0.42%.

South Korea's economic growth accelerated more than estimated in the three months through March 2010. Gross domestic product increased 1.8% in the first quarter from the previous three months, when it rose 0.2%.

US index futures reversed early gains. Trading in US index futures indicated that the Dow could fall 26 points at the opening bell on Tuesday, 27 April 2010.

Most US stocks edged lower on Monday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar's strong results buoyed the Dow. The Dow Jones Industrial Average edged up 0.75 point, or 0.01%, to close at 11,205.03. The Standard & Poor's 500 Index dropped 5.23 points, or 0.43% to 1,212.05. The Nasdaq Composite Index lost 7.20 points, or 0.28% to 2,522.95.

US Treasury Secretary Timothy Geithner said on Monday there were some signs that a sustained job recovery was beginning, but he conceded that Americans still face difficult economic conditions.

The US Federal Reserve is likely to keep interest rates near zero and it is also likely to repeat its vow of an extended period of very low rates at the conclusion of a two-day policy meeting on Wednesday, 28 April 2010. The Fed has kept the Fed funds rate in a range of zero to 0.25% since December 2008.

Back home, the Indian Meteorological department (IMD) expects normal rainfall in the June-September monsoon season this year. Rainfall is likely to be 98% of the long-term average, the IMD said on 23 April 2010. Good monsoon rains would help raise farm output, boost rural incomes and lower food inflation. The south west monsoon 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. The quantum of rainfall in the crucial sowing month of July and distribution of rainfall during the monsoon season holds key.

The latest data showed the annual food and fuel inflation ticked higher, raising worries central bank may raise interest rates before the next scheduled policy review in July 2010. The food price index rose 17.65% in the year to 10 April 2010. The fuel price index rose 12.45% and the primary articles index rose 14.14% in the year to 10 April 2010, the latest government data showed.

The Reserve Bank of India 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.

In its half-yearly World Economic Outlook, the International Monetary Fund (IMF) has pegged India's GDP growth at 8.75% in calendar 2010 and 8.5% in calendar 2011. According to the IMF, domestic demand in India will strengthen as the labour market improves, and investment is expected to be boosted by strong corporate profitability, rising business confidence and favourable financing conditions.

Indian stocks rose for a fifth day in a row on Monday, 26 April 2010, after the Reserve Bank of India (RBI) raised interest rates on 20 April 2010 by less than some economists had expected and forecast inflation will slow. From a recent low of 17400.68 on 19 April 2010, the BSE Sensex jumped 345.60 points or 1.98% to 17745.28 on Monday, 26 April 2010. Optimism about the fourth quarter corporate earnings and hopes of a normal monsoon this year aided the rally

The RBI said it will continue to monitor macroeconomic conditions, particularly the price situation closely and take further action as warranted. A 25 basis points hike in the cash reserve ratio (CRR) with effective from 24 April 2010 will suck out excess liquidity of Rs 12500 crore from the banking system.

The BSE 30-share Sensex today lost 54.66 points or 0.31% to settle at 17,690.62. The Sensex rose 23.97 points at the day's high of 17,769.25 in mid-morning trade. The index fell 66.72 points at the day's low of 17,678.56 in late trade.

The S&P CNX Nifty declined 14.10 points or 0.26% at 5,308.35.

The BSE Mid-Cap index fell 0.31% and matched the Sensex's fall. The BSE Small-Cap index fell 0.06% and outperformed the Sensex.

Sectoral indices were mixed. BSE FMCG index (up 0.57%), Healthcare index (up 0.3%), Power index (up 0.26%), Oil & Gas index (up 0.1%), PSU index (up 0.1%), IT index (up 0.06%), Teck Index (up 0.03%), Capital Goods index (down 0.23%) outperformed the Sensex.

BSE Realty index (down 1.44%), Bankex (down 0.85%), Auto index (down 0.81%), Metal index (don 0.68%), Consumer Durables index (down 0.51%), underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. The breadth was positive earlier in the day. On BSE, 1289 shares advanced as compared with 1616 that declined. A total of 87 shares were unchanged.

From the 30 share Sensex pack, 20 stocks fell while the rest gained.

BSE clocked turnover of Rs 4477 crore, higher than Rs 3961.18 crore on Monday, 26 April 2010.

Index heavyweight Reliance Industries (RIL) fell 0.81%, extending Monday's 1.61% losses as net profit rose a lower-than-expected 29.9% to Rs 4710 crore in Q4 March 2010 over Q4 March 2009. The Q4 result was announced after trading hours on Friday, 23 April 2010.

Interest rate sensitive auto stocks fell on profit taking. Vehicle sales in India should grow 10-15% in the fiscal year to March 2011, an industry body said on 9 April 2010. In 2009/10, a total of 1.23 crore vehicles were sold in the country, up 26.4% from the previous fiscal year, data from the Society of Indian Automobile Manufacturers (SIAM) showed.

India's largest car maker by sales Maruti Suzuki India fell 3.88% extending Monday's 1.97% decline. The stock was the top loser from the Sensex pack. Net profit surged 170.04% to Rs 656.55 crore in Q4 March 2010 over Q4 March 2009. The company announced result during market hours on Monday, 26 April 2010.

Maruti said profit surged in Q4 March 2010 due to a lower base effect. The car maker also said profit for Q4 March 2010 was negatively impacted to some extent from cost of upgradation of its full range of cars to meet new emission norms, launch of new models, higher raw material prices and adverse foreign exchange movement

India's largest commercial vehicle maker by sales Tata Motors fell 0.46% on profit taking after the stock gained for five days in a row. The company said on 15 April 2010 that its global vehicle sales rose 39% to 101,712 units in March 2010 over March 2009. This includes sales of UK-based Jaguar and land Rover brands that rose 43% to 23,538 vehicles in March 2010 over March 2009.

But, India's largest tractor maker by sales Mahindra & Mahindra rose 1.64%, with the stock gaining for the third straight day on reports the company has expressed interest in buying South Korea's cash-strapped sports utility vehicle manufacturer Ssangyong Motor Company.

Mahindra & Mahindra said on 16 April 2010 that it is buying out Renault's stake in a joint venture that makes the Logan sedan. The Renault name and logo will continue to be used on the Logan till the end of calendar 2010.

Most carmakers increased vehicle prices from 1 April 2010 after 13 cities across the country switched over to Bharat Stage IV emission norms. Earlier in February 2010, following the 2% increase in excise duty on all non-oil products to 10% in the Budget, auto players had hiked prices of vehicles by up to Rs 70,000.

India's second largest bike maker by sales Bajaj Auto fell 2.93%, with the stock falling for the second straight day. Bajaj Auto on 16 April 2010 said it has raised its stake in KTM Power Sports AG, Europe's second largest motorcycle maker.

Motorbike maker Hero Honda Motors fell 0.48%. Net profit jumped 48.8% to Rs 598.81 crore on 19.6% rise in total income to Rs 4191.81 crore in Q4 March 2010 over Q4 March 2009. The company announced the results on 19 April 2010.

At the time of announcing the Q4 results, Hero Honda managing director and CEO Pawan Munjal said factors like movement in commodity prices, inflation and interest rate scenario will play a crucial role in the growth and profitability of the two-wheeler industry, going ahead. He said Hero Honda has set ambitious milestones for the current year after vehicle sales surpassed the company's target in the year ended March 2010 (FY 2010).

He said the company is looking forward to a series of defining initiatives in the year ending March 2011 (FY 2011), including aggressively expanding geographical reach, building on production capacities and augmenting strong brand portfolio.

Unitech fell 1.55%, with the scrip falling for the second straight day. The board of directors 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.

India's largest realty player by sales DLF fell 1.81% extending Monday's 2.52% decline after the company said on Saturday 24 April 2010 that its subsidiary, Caraf Builders & Constructions, acquired 24.52 crore compulsorily convertible preference shares (CCPS) in group company DLF Assets from PE firm SC Asia for Rs 3,084.68 crore. With this, Caraf's stake in DLF Assets has risen to 91.90%. DSIPL (a company owned by SC Asia) would continue to hold 2.72 crore CCPS, representing an economic interest of 4.59% in DAL, it said.

Among other realty stocks, Sobha Developers, Orbit Corporation and Indiabulls Real Estate fell by between 0.27% to 2.96%.

Mining and metal stocks fell as copper prices declined on the London Metal Exchange. Hindalco Industries, Sesa Goa, National Aluminum Company, Hindustan Zinc, Steel Authority of India fell by between 0.08% to 2.04%.

India's largest private sector steel maker by sales Tata Steel fell 1.44%. The company said recently its sales in the year ended on 31 March 2010 rose 18% from a year ago to 6.17 million tonnes.

Copper maker Sterlite Industries fell 1.57% on profit taking. The stock had jumped 5.95% on Monday after the company's board recommended issue of bonus shares in the ratio of 1:1 and a 2-for-1 stock split at the time of announcing Q4 results during trading hours on Monday, 26 April 2010. Consolidated net profit surged 130.82% to Rs 1380.90 crore in Q4 March 2010 over Q4 March 2009.

Bank stocks fell on profit taking. India's second largest private sector bank by net profit HDFC Bank fell 0.58%. The stock had risen 2.39% on Monday as net profit rose 32.61% to Rs 836.62 crore in Q4 March 2010 over Q4 March 2009. The stock had hit all-time high of Rs 1997.85 on Monday. The result was announced on Saturday, 24 April 2010.

India's biggest commercial bank in terms of branch network State Bank of India fell 1.6% on profit taking after recent strong gains triggered by brokerage upgrades on the counter. A prominent foreign brokerage has reportedly raised its rating on the stock to 'neutral' from 'sell'. Another foreign brokerage has reportedly predicted a re-rating of the counter on the back of an expected lending growth.

India's largest private sector bank by net profit ICICI Bank fell 1.43%, with the scrip falling for the second straight day. Its ADR fell 4.48% on Monday. Net profit rose 35.2% to Rs 1005.57 crore in Q4 March 2010 over Q4 March 2009. The result was announced on Saturday, 24 April 2010.

India's largest mortgage finance firm by total income Housing Development Finance Corporation (HDFC) rose 1%, with the stock gaining for the second straight day. The company recently 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.

IDFC fell 2.81% on equity dilution worries after the infrastructure financier said it plans to raise up to Rs 3500 crore for meeting future growth needs. The funds will be raised through issue of appropriate equity or quasi-equity instruments in one or more tranches over the next 12 months, the company said in a statement at the time of announcing Q4 March 2010 results during trading hours.

Consolidated net profit jumped 96.3% to Rs 228.11 crore on 8.30% rise in total income to Rs 1033.30 crore in Q4 March 2010 over Q4 March 2009.

Some infrastructure stocks rose on the government's thrust to improve the ailing infrastructure of the country. Punj Lloyd, IVRCL Infrastructure & Projects, Nagarjuna Construction Company rose by between 0.21% to 2.87%.

India's largest oil exploration firm by sales ONGC rose 2.86%, after the company said after market hours on Monday it added 83 million tonnes of oil and oil equivalent gas reserves in the year ended March 2010, the highest in two decades.

NTPC, the country's largest thermal power producer by sales rose 0.41%. Provisional net profit rose 5.5% to Rs 8656.53 crore in the year ended March 2010 over the year ended March 2009. Net sales jumped 11.28% to Rs 46504.47 crore. The provisional result was announced during market hours on 23 April 2010.

NTPC has approved capital expenditure of Rs 22350 crore for the year ending March 2011, and plans to add 4,150 megawatts of capacity during the year.

IT stocks were mixed. India's third largest IT exporter by sales, Wipro fell 0.26%. The board announced a 2:3 bonus late last week. Consolidated net profit under International Financial Reporting Standards jumped 21% Rs 1209 crore on 8% rise in total revenue to Rs 6983 crore in Q4 March 2010 over Q4 March 2009. The results were announced on Friday, 23 April 2010.

Wipro has projected revenue from the IT services business to be in the range of $1.19 billion to $1.215 billion in Q1 June 2010. The company said it won several large deals in Q4 March 2010. Commenting on the fourth quarter results, Wipro Chairman Azim Premji said there was a broad-based, volume led growth during the fourth quarter. There was a good recovery in technology and telecom verticals. The business environment is returning to normal, he added.

India's largest information technology services provider by sales, TCS rose 0.28%, with the stock gaining for the second straight day. 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 on 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.

India's second largest software exporter by sales, Infosys Technologies, was flat.

HCL Technologies fell 0.55% on profit taking after recent strong gains triggered by robust Q3 March 2010 results. Consolidated net profit as per US accounting standards rose 15.9% to Rs 344 crore on 1.4% growth in revenue to Rs 3075.70 crore in Q3 March 2010 over Q2 December 2009. The company announced the result on 21 April 2010.

India's largest mobile services provider by sales Bharti Airtel rose 0.3% ahead of its Q4 result on Wednesday, 27 April 2010. India's second largest mobile services provider by sales Reliance Communications fell 0.18%.

Cement major ACC fell 0.51%, reversing early gains. Consolidated net profit declined 1.6% to Rs 392.88 crore in Q1 March 2010 over Q1 March 2009. The result was announced during trading hours on 22 April 2010.

India's largest engineering and construction firm by sales Larsen & Toubro (L&T) rose 0.35%, with the scrip gaining for the third straight day. The company recently received an order worth Rs 1,060 crore from Gujarat State Petroleum Corporation (GSPC) to build an offshore oil platform.

But, India's largest power equipment maker by sales Bharat Heavy Electricals fell 1.15% on profit taking after a three-day rise.

FMCG stocks rose on expectation of good Q4 results. ITC, Marico, Dabur India, Nestle India rose by between 0.49% to 1.3%.

Sun Pharmaceutical Industries fell 0.43%, extending Monday's 4.77% slump after a US District Court for New Jersey on Friday, 23 April 2010, rejected claims by Teva Pharmaceutical Industries and Sun Pharmaceuticals Industries that the patent on Pfizer's Protonix acid reflux drug should be declared invalid. The original patent on Protonix, known chemically as pantoprazole, is held by Swiss drugmaker Nycomed and was licensed to Wyeth, which is now owned by Pfizer. Nycomed and Wyeth filed their patent infringement lawsuit against Teva Pharmaceutical Industries and Sun Pharma in May 2004.

FCS Software clocked the highest volume of 1.91 crore shares on BSE. Visa Steel (1.53 crore shares), Cals Refineries (1.39 crore shares), Asahi Infrastructure (88 lakh shares) and Birla Power Solutions (76 lakh shares) were the other volume toppers in that order.

ARSS Infra clocked the highest turnover of Rs 113.76 crore on BSE. Maruti Suzuki India (Rs 76.49 crore), Sesa Goa (Rs 75.28 crore), Visa Steel (Rs 69.16 crore), Sterlite Industries (Rs 62.32 crore) were the other turnover toppers in that order.

BSE Bulk Deals to Watch - Apr 27 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/4/2010 532351 Aksh Optifibre SHILPA STOCK BROKER PRIVATE LIMITED S 409374 23.02
27/4/2010 512535 Asahi Infra S V ENTERPRISES B 3326833 1.99
27/4/2010 512535 Asahi Infra S V ENTERPRISES S 2687833 1.98
27/4/2010 532047 Asian Films BASMATI SECURITIES PRIVATE LIMITED B 216341 3.30
27/4/2010 532047 Asian Films AMBRISH SINGH AHLUWALIA S 100000 3.30
27/4/2010 532047 Asian Films SPM FINANCIAL ADVISORY SERVICES PVT LTD S 100000 3.30
27/4/2010 500035 Balaji Dist VENUS CAPITAL MANAGEMENT AC VCM LTD MAURITIUS B 450000 43.45
27/4/2010 500035 Balaji Dist VENUS CAPITAL MANAGEMENT INC AC ITF MAURITIUS B 450000 43.45
27/4/2010 500035 Balaji Dist DSP MERRIL LYNCH LTD S 900000 43.45
27/4/2010 590059 Bihar Tubes APL INFRASTRUCTURE PRIVATE LIMITED B 105000 127.76
27/4/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD B 76000 78.35
27/4/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD B 109633 77.77
27/4/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR B 185135 77.34
27/4/2010 511607 Birla Shloka BHAVISH DHIRAJLAL KHAKHKHAR S 185170 77.22
27/4/2010 511607 Birla Shloka TEJAL MERCHANTILE PRIVATE LIMITED S 65000 76.11
27/4/2010 511607 Birla Shloka JATINDRANATH KOHLI S 71500 77.07
27/4/2010 522251 Cenlub Inds BUDDHA RAJU SURAPARAJU S 28000 20.83
27/4/2010 500083 Century Extr BHARAT SHANKAR PHAPALE S 314726 12.60
27/4/2010 533026 Chemcel Bio PARMAR BHARATKUMAR B B 525000 11.72
27/4/2010 533026 Chemcel Bio SHOBHNA BEN R PARMAR B 170000 11.69
27/4/2010 533026 Chemcel Bio PANDYA YAMINIBEN M B 232138 11.67
27/4/2010 533026 Chemcel Bio LAXMAN DHIRUBHAI PARMAR B 150000 11.91
27/4/2010 533026 Chemcel Bio RAMESH BHAI V PARMAR B 150000 11.91
27/4/2010 533026 Chemcel Bio BHARATKUMAR BALDEVBHAI PARMAR B 270550 11.44
27/4/2010 533026 Chemcel Bio DEVABHAI PATEL NARESHBHAI B 130000 11.39
27/4/2010 533026 Chemcel Bio PARMAR BHARATKUMAR B S 398869 11.82
27/4/2010 533026 Chemcel Bio SHOBHNABEN R PARMAR S 160169 11.61
27/4/2010 533026 Chemcel Bio PANDYA YAMINIBEN M S 232133 11.71
27/4/2010 533026 Chemcel Bio LAXMAN DHIRUBHAI PARMAR S 155000 11.58
27/4/2010 533026 Chemcel Bio RAMESH BHAI V PARMAR S 150000 11.67
27/4/2010 533026 Chemcel Bio BHARATKUMAR BALDEVBHAI PARMAR S 270550 11.40
27/4/2010 533026 Chemcel Bio DEVABHAI PATEL NARESHBHAI S 130000 11.32
27/4/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE S 295500 11.75
27/4/2010 526550 Country Club SUNDEEP CREDITS PVT LTD B 701905 23.84
27/4/2010 526550 Country Club VALLABH REALTORS PRIVATE LIMITED B 500000 23.06
27/4/2010 526550 Country Club ANJANI YOGESHBHAI SHETH S 425000 23.12
27/4/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD B 172293 117.42
27/4/2010 532760 Deep Inds ARCADIA SHARE & STOCK BROKERS PVT. LTD S 172201 117.05
27/4/2010 521216 Dhanalaxmi Roto SHOBHA RAMKUMAR RATHI S 28838 16.09
27/4/2010 505533 Dhanprayog SUBH ASHISH EXIM PVT LTD B 3333400 33.05
27/4/2010 505533 Dhanprayog HORIZON IMPEX PVT LTD B 527100 33.05
27/4/2010 505533 Dhanprayog USHADEVI JATIA S 1554000 33.05
27/4/2010 505533 Dhanprayog SMITA JATIA S 7950 33.05
27/4/2010 505533 Dhanprayog LALITA DEVI JATIA S 822710 33.05
27/4/2010 505533 Dhanprayog AYUSH JATIA S 735950 33.05
27/4/2010 505533 Dhanprayog AKSHAY JATIA S 735950 33.05
27/4/2010 505533 Dhanprayog AMIT JATIA S 3950 33.05
27/4/2010 517973 DMC Intl HARISH GUPTA S 124537 19.77
27/4/2010 533055 EDSERV SOFT OPG SECURITIES P LTD B 91453 237.27
27/4/2010 533055 EDSERV SOFT OPG SECURITIES P LTD S 91453 237.14
27/4/2010 532666 FCS Software MANISH RATILAL SHAH B 2676920 5.00
27/4/2010 532666 FCS Software MANISH RATILAL SHAH S 2676920 5.01
27/4/2010 590024 Fert & Chem Trv KANCHAN CHHABRA B 43331 55.55
27/4/2010 590024 Fert & Chem Trv PRINKA GARG B 43529 55.49
27/4/2010 590024 Fert & Chem Trv KANCHAN CHHABRA S 43331 56.19
27/4/2010 532022 Filatex Fash TRIVENI DEVI MALAWAT B 55000 11.21
27/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE B 42199 58.32
27/4/2010 530945 Gangotri Iron JAGENDRA TRIPATHI B 102462 59.55
27/4/2010 530945 Gangotri Iron ARYA INVESTMENTS B 40000 59.55
27/4/2010 530945 Gangotri Iron BALASO VITHAL SHINDE S 40900 59.55
27/4/2010 530945 Gangotri Iron MIKHIL SHAH S 66600 58.79
27/4/2010 533189 Goenka Diamond SAHAR VYAPAR PRIVATE LIMITED B 175094 114.12
27/4/2010 533189 Goenka Diamond SAHAR VYAPAR PRIVATE LIMITED S 175094 114.43
27/4/2010 511682 IFL Promoters RAJESH AGRAWAL (HUF) B 20000 21.33
27/4/2010 511682 IFL Promoters SHAMSUNDER GUPTA B 47810 21.30
27/4/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED B 38234 21.25
27/4/2010 511682 IFL Promoters DMC INTERNATIONAL LTD B 49921 21.27
27/4/2010 511682 IFL Promoters SHAMSUNDER GUPTA S 29983 21.33
27/4/2010 511682 IFL Promoters OURS TRADING AND HOLDINGS PRIVATE LIMITED S 38234 21.29
27/4/2010 511682 IFL Promoters DMC INTERNATIONAL LTD S 57137 21.31
27/4/2010 500213 Int Trvl House SEJALBEN S BHIKADIA B 47631 177.70
27/4/2010 500213 Int Trvl House SEJALBEN S BHIKADIA S 47631 185.49
27/4/2010 517063 Jetking Info ASHOK KUMAR BILGAIYAN B 30078 154.90
27/4/2010 517063 Jetking Info ASHOK KUMAR BILGAIYAN S 30078 156.92
27/4/2010 532624 Jindal Photo OPG SECURITIES P LTD B 81393 242.73
27/4/2010 532624 Jindal Photo OPG SECURITIES P LTD S 81393 243.04
27/4/2010 500227 Jindal Poly OPG SECURITIES P LTD B 168694 424.35
27/4/2010 500227 Jindal Poly OPG SECURITIES P LTD S 168694 424.42
27/4/2010 533103 JINDALCOTEX SHEETAL M SHETH B 127126 91.17
27/4/2010 533103 JINDALCOTEX T K DUGAR AND CO S 255000 91.27
27/4/2010 533103 JINDALCOTEX SHEETAL M SHETH S 127126 91.94
27/4/2010 530985 JPT Securities ALOOBEHERAM DUBASH S 15251 109.80
27/4/2010 523810 Kaleidoscope Films NIDHI MAHENDRA SHAH B 400000 8.95
27/4/2010 532758 KEW Inds DEEPAK SHANTILAL CHHEDA B 91650 15.83
27/4/2010 532758 KEW Inds ASHOK CHINUBHAI SHAH B 1593621 15.25
27/4/2010 532758 KEW Inds MUKESHBHAI TRAMBAKLAL SHAH B 125000 13.25
27/4/2010 532758 KEW Inds SACHIN JAIN B 1201978 16.55
27/4/2010 532758 KEW Inds CHAMPAKLAL NARSHIBHAI PUJARA B 100000 16.70
27/4/2010 532758 KEW Inds NARESHCHAND JAIN B 81675 14.28
27/4/2010 532758 KEW Inds JMP SECURITIES PVT LTD B 90589 13.63
27/4/2010 532758 KEW Inds DEEPAK SHANTILAL CHHEDA S 91650 15.84
27/4/2010 532758 KEW Inds ASHOK CHINUBHAI SHAH S 1320383 15.75
27/4/2010 532758 KEW Inds SACHIN JAIN S 1201978 14.59
27/4/2010 532758 KEW Inds MANOJ BISHAN MITTAL S 597000 14.64
27/4/2010 532758 KEW Inds CHAMPAKLAL NARSHIBHAI PUJARA S 123000 16.02
27/4/2010 532758 KEW Inds NARESHCHAND JAIN S 81675 14.44
27/4/2010 532758 KEW Inds JMP SECURITIES PVT LTD S 92589 13.66
27/4/2010 532758 KEW Inds CHETAN KANTILAL MEHTA S 600000 15.67
27/4/2010 532758 KEW Inds HEMALI AMIT PANDYA S 94150 15.70
27/4/2010 532758 KEW Inds AMIT PRIYAKANT PANDYA S 185850 13.69
27/4/2010 532758 KEW Inds CHAMPAKLAL N PUJARA S 86355 17.29
27/4/2010 531602 Koffee Break ACHALA ELECTRICALS PRIVATE LIMITED S 500000 1.55
27/4/2010 531366 Kohinoor Broad BASMATI SECURITIES PRIVATE LIMITED S 778744 6.34
27/4/2010 502250 Marathwada Refrac DUSHYANT SATISH CHATURVEDI B 6400 410.02
27/4/2010 502250 Marathwada Refrac ASHOK KUMAR RUIA S 14750 419.43
27/4/2010 502250 Marathwada Refrac VIKAS RASTOGI S 9450 423.17
27/4/2010 532500 Maruti Suzuki SWISS FINANCE CORPORATION (MAURITIUS) LTD S 1912323 1289.49
27/4/2010 590111 MASTER GOPALAKRISHNA BONAM B 43000 35.92
27/4/2010 590111 MASTER NAGA VENKATA NAGAVENKATA S MATHA S 43000 35.92
27/4/2010 522298 Micro Forge KANDAGATLA SAMBA MURTHY B 36000 3.44
27/4/2010 522298 Micro Forge PARVEEN KUMAR S 40000 3.44
27/4/2010 533080 MOLDTK PLA KOTESWARA RAO POTINENI B 50000 52.33
27/4/2010 531834 Natura Hue Chem AHMED SAYED B 71646 16.53
27/4/2010 531834 Natura Hue Chem SEEMA RAMAKANT PARASRAMPURIA B 75000 16.00
27/4/2010 531834 Natura Hue Chem AHMED SAYED S 39997 16.07
27/4/2010 531834 Natura Hue Chem NAINA SANJEEV MALHOTRA S 30600 16.59
27/4/2010 531834 Natura Hue Chem HASHIM AMIR AMHED SAYED S 96000 16.01
27/4/2010 530697 Neelkanth Tech SUBHASH AGARWAL HUF B 23000 34.45
27/4/2010 531083 Nihar Info ARIHANT KLOCKER MARKETING PVT LTD B 70000 4.14
27/4/2010 531083 Nihar Info ALLURI PRASADRAJU S 90023 4.07
27/4/2010 531496 Omkar Overseas DIPAL DEVENDRA SHAH B 30000 73.59
27/4/2010 531496 Omkar Overseas DIPAL DEVENDRAKUMAR SHAH B 41489 73.93
27/4/2010 531496 Omkar Overseas SANTOSH ABHAYRAJ SHUKLA S 35000 73.90
27/4/2010 531496 Omkar Overseas SHASHIKUMAR KHERIA S 30000 73.43
27/4/2010 531496 Omkar Overseas DIPAL DEVENDRAKUMAR SHAH S 26489 73.78
27/4/2010 512097 Oregon Comm DHIRENKUMAR DHARAMDAS AGARWAL B 13666 241.08
27/4/2010 512097 Oregon Comm KRUPA SANJAY SONI B 40586 241.27
27/4/2010 512097 Oregon Comm ARIF GULAMMUSTUFA SHAIKH B 22208 241.66
27/4/2010 512097 Oregon Comm KRUPA SANJAY SONI S 7752 240.34
27/4/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI S 9362 241.90
27/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 6212 241.96
27/4/2010 512097 Oregon Comm ARIF GULAMMUSTUFA SHAIKH S 18508 241.89
27/4/2010 533178 PRADIPOVERS GENUINE STOCK BROKERS PVT. LTD. B 206773 99.24
27/4/2010 533178 PRADIPOVERS OPG SECURITIES P LTD B 250864 98.09
27/4/2010 533178 PRADIPOVERS GENUINE STOCK BROKERS PVT. LTD. S 206773 99.16
27/4/2010 533178 PRADIPOVERS OPG SECURITIES P LTD S 250864 98.08
27/4/2010 509839 Punjab Wool SUSHMA RANI PUNNI S 66649 8.30
27/4/2010 590077 Ranklin Sol VULASA BABU RAO S 43300 67.56
27/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD B 200000 10.23
27/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 275140 9.80
27/4/2010 533083 RISHABHDEV FORT SHARE BROKING PVT LTD. S 400000 9.51
27/4/2010 533083 RISHABHDEV SAAKSHI SHARES PVT LTD S 200000 9.85
27/4/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 279389 9.79
27/4/2010 502448 Rollatainers W.LD. INVESTMENT PVT. LTD. S 100000 416.69
27/4/2010 530461 Saboo Sodium SPECTRUM FOODS LIMITED S 70000 13.87
27/4/2010 533056 SARK SYS TANMOY GANGULY B 54440 35.35
27/4/2010 533056 SARK SYS MV TRADECOM PRIVATE LIMITED B 62384 35.31
27/4/2010 533056 SARK SYS MVM SECURITIES PRIVATE LIMITED S 100000 35.35
27/4/2010 533056 SARK SYS SATELLITE EXIM PRIVATE LIMITED S 51327 35.35
27/4/2010 511144 Saya Housing POORNIMA COMMERCIAL PVT LTD S 37770 2.80
27/4/2010 530433 Shiva Fert KAMAL KISHORE GILDA S 50000 83.35
27/4/2010 530433 Shiva Fert BAICHANDRA BHAGA S 50000 83.35
27/4/2010 526981 Shri Bajrang MAHESH MEETAL B 65000 30.86
27/4/2010 526981 Shri Bajrang MAHESH MEETAL S 65000 27.41
27/4/2010 531645 Southern Ispat VELMON TIE-UP PRIVATE LIMITED B 102159 21.07
27/4/2010 526133 Supertex Inds SHAISHIL TUSHARKUMAR JHAVERI B 678646 4.23
27/4/2010 526133 Supertex Inds SHWETA KIRAN POWAR B 1200000 4.30
27/4/2010 526133 Supertex Inds POOJA KHURANA B 650000 4.30
27/4/2010 526133 Supertex Inds SONAL BHUPENDRABHAI KAMODIA B 550000 4.25
27/4/2010 526133 Supertex Inds PARAMESHWAR EXPORTS PRIVATE LIMITED B 602500 4.22
27/4/2010 526133 Supertex Inds SHAISHIL TUSHARKUMAR JHAVERI S 678646 4.23
27/4/2010 526133 Supertex Inds SANJAY KUMAR MISHRA S 2140115 4.30
27/4/2010 523455 Techtran Poly DHARMENDRA JAIN B 149871 23.42
27/4/2010 590093 TRIMURTHI DR SHOBHA IMTIYAZ DESAI S 502416 4.70
27/4/2010 532311 Tutis Tech KUMAR NARENDR B 135000 25.38
27/4/2010 532765 Usher Agro SHRENI SHARES PRIVATE LTD S 123439 76.49
27/4/2010 530369 Vamshi Rubber ASHOK KUMAR BILGAIYAN B 45365 51.55
27/4/2010 530369 Vamshi Rubber ASHOK KUMAR BILGAIYAN S 45365 52.87
27/4/2010 530369 Vamshi Rubber ASHWANI JINDAL S 24000 50.80
27/4/2010 532721 Visa Steel VISA INFRASTRUCTURE LIMITED B 14500000 44.55
27/4/2010 532721 Visa Steel VISA MINMETAL AG S 14500000 44.55
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Apr 27 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-APR-2010,AKSHOPTFBR,Aksh Optifibre Limited,SHILPA STOCK BROKER PRIVATE LIMITED,BUY,153334,22.80,-
27-APR-2010,ANSALHSG,Ansal Housing and Constru,INVENTURE GROWTH & SECURITIES LIMITED,BUY,107014,77.01,-
27-APR-2010,CENTEXT,Century Extrusions Limite,BHARAT SHANKAR PHAPALE,BUY,501526,12.30,-
27-APR-2010,FCSSOFT,FCS Software Solutions Li,SHEETAL MANUBHAI SHETH,BUY,3740000,5.00,-
27-APR-2010,GLORY,Glory Polyfilms Limited,KHAKHKHAR BHAVISH DHIRAJLAL,BUY,263670,24.36,-
27-APR-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,BUY,165000,24.33,-
27-APR-2010,INDOTECH,Indo Tech Transformers Li,APM FINANCIAL CONSULTANTS PVT. LTD.,BUY,83793,313.99,-
27-APR-2010,ISFT,Intrasoft Tech. Ltd,PAN EMAMI COSMED LIMITED,BUY,100000,125.53,-
27-APR-2010,NITINFIRE,Nitin Fire Protection Ind,HEENA VORA,BUY,57945,395.65,-
27-APR-2010,PRADIP,Pradip Overseas Ltd,MANISH RATILAL SHAH,BUY,279933,94.36,-
27-APR-2010,TELEDATAIT,Teledata Technology Solut,DELIGHT FINANCIAL ADVISOR PVT LTD,BUY,3837554,3.04,-
27-APR-2010,ZEENEWS,Zee News Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1240710,15.54,-
27-APR-2010,AKSHOPTFBR,Aksh Optifibre Limited,SHILPA STOCK BROKER PRIVATE LIMITED,SELL,364784,22.91,-
27-APR-2010,ANSALHSG,Ansal Housing and Constru,INVENTURE GROWTH & SECURITIES LIMITED,SELL,103464,77.11,-
27-APR-2010,BLUEBIRD,Blue Bird (India) Limited,ROHIT ASHOK JINDAL,SELL,177005,16.06,-
27-APR-2010,CENTEXT,Century Extrusions Limite,ASISH FINANCE LIMITED,SELL,500000,12.30,-
27-APR-2010,CENTEXT,Century Extrusions Limite,BHARAT SHANKAR PHAPALE,SELL,258110,12.60,-
27-APR-2010,FCSSOFT,FCS Software Solutions Li,SHEETAL MANUBHAI SHETH,SELL,3740000,5.03,-
27-APR-2010,GLORY,Glory Polyfilms Limited,KHAKHKHAR BHAVISH DHIRAJLAL,SELL,55646,23.71,-
27-APR-2010,GLORY,Glory Polyfilms Limited,ROSY DEAL COMM (P) LTD,SELL,259146,24.29,-
27-APR-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,SELL,40000,23.51,-
27-APR-2010,INDOTECH,Indo Tech Transformers Li,APM FINANCIAL CONSULTANTS PVT. LTD.,SELL,48793,314.98,-
27-APR-2010,ISFT,Intrasoft Tech. Ltd,SHAIL INVESTMENTS PVT. LTD.,SELL,97841,125.53,-
27-APR-2010,JINDCOT,Jindal Cotex Ltd,T K DUGAR AND CO (PROP: TULSI KUMAR DUG,SELL,190000,91.38,-
27-APR-2010,NITINFIRE,Nitin Fire Protection Ind,HEENA VORA,SELL,78945,398.12,-
27-APR-2010,PRADIP,Pradip Overseas Ltd,MANISH RATILAL SHAH,SELL,279933,101.65,-
27-APR-2010,TELEDATAIT,Teledata Technology Solut,DELIGHT FINANCIAL ADVISOR PVT LTD,SELL,3089255,3.01,-
27-APR-2010,ZEENEWS,Zee News Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1230289,15.51,-

Market tad down; bulls take respite

Today's major news

IDFC Q4FY2010 net profit jumps 88%; the stock slides 2.81%

PFC’s net profit dips 40% in Q4FY2010; the stock ends 1.64% lower

Yes Bank’s Q4 net profit up by 74.79%; the stock trades 2.10% lower

Click here for more stories

Global signals

European stocks fell on Tuesday snapping two-day winning streak owing to uncertainty lingering over financial aid for Greece, as Germany demanded painful new austerity measures from Athens. FTSE 100 (London) was trading 1.10% lower.

Among major Asian indices, all the indices closed in the negative territory except Japan’s Nikkei that rose 0.42%. SGX Nifty closed 11 points lower.

In US, investors are looking for earnings of major companies like Ford Motors, United Parcel Service and Cummins Inc.

Indian indices

Domestic indices snapped its five-day winning streak on Tuesday on the back of weak global indices, as uncertainty persisted over financial aid for Greece, as Germany demanded painful new austerity measures from Athens and continuous selling in heavyweights like Maruti Suzuki India, ICICI Bank and Reliance Industries dragged the market lower.

Sensex traded in very tight range of 90 points during the day. It started par (at 17745) but turned negative on weak Asian markets. The market recovered from the early slide into positive zone in morning to touch the day’s high of 17769. Sensex moved between positive and negative territory till after noon. It once again slid into negative territory in afternoon session after European markets opened weak on Greece debt concerns. In last hour, the bellwether hit the day’s low of 17678 as selling intensified in realty, banking and auto stocks. At closing bell, Sensex stood at 17691, down 55 points and Nifty signed off 14 points lower at 5308.

Market sentiment

The market breadth, the number of advancing shares to declining shares, was negative. Of the total 2,991 stocks traded on the BSE, 1,608 stocks declined, whereas 1,288 stocks advanced. Ninety-five stocks closed unchanged.

Sectoral & stock screening

In a rather dull trading session, realty, banking and auto scrips were hurt the most; the three being down by 1.44%, 0.85% and 0.81% respectively. Fast moving consumer goods (0.57%) however held the fort. The remaining indices were either up or down marginally.

The pick of the stock of the day was GMR Infrastructure, up 6.44%, followed by Lanco Infratech that surged 5.05% and Mahindra & Mahindra Financial that rose 3.73%. Among laggards, Jain Irrigation slid the most by 4.81%, followed by Maruti Suzuki that fell 3.88% and Jaiprakash Associates that shed 3.74%.

Viewing volumes

Lanco Infratech was the most actively traded share with over 0.44 crore shares changing hands on the BSE, followed by steel maker Ispat Industries (0.40 crore shares), sugar major Shree Renuka Sugars (0.39 crore shares), India’s second largest realty company Unitech (0.32 crore shares) and today’s top gainer in A group GMR Infrastructure (0.32 crore shares).

Post Market Commentary - Apr 27 2010

Benchmark indices snapped five day winning streak to end lower by about a fourth of a percent. Sensex lost 55 points to close at 17690 while Nifty finished at 5308, down 14 points. BSE Mid-cap and Small-cap indices lost 0.3% and 0.01% respectively. European markets were down about a percent US stock indices futures were marginally in the red ahead of the start of a two-day Federal Reserve meeting.

Realty and Bankex were the top losers among the sectoral indices, shedding 1.4% and 0.8% respectively while FMCG and Healthcare indices gained 0.6% and 0.3% respectively. Cairn and ONGC gained the most among the Nifty stocks, putting on 3.4% and 2.9% respectively while JP Associate and Maruti were the top lsoers, down 4.2% and 3.9% respectively. BSE advance-decline ratio stood at 1:1.2.

Tarapur - Mandhana - Nitesh - Grey Market Premiums

Company Name	Offer Price (Rs.)	Premium (Rs.)
Talwalkars Better Value Fitness Ltd.	123 to 128	17 to 19
Nitesh Estate	54 to 56	1.5 to 2
Tarapur Transformers	65 to 75	7 to 8
Mandhana India Ltd.	120 to 130	10 to 12
Tara Health Foods	180 to 190	6 to 7
Sutlaj Jal Vidhut Nigam (SJVNL)	23 to 26	2 to 3
Jaypee Infra	102 to 117	--

Morning Reports - Apr 27 2010

Morning Reports - Apr 27 2010

Market may snap last five days' gains on weak Asian stocks

The market may snap last five days' gains tracking losses in Asian stocks. Volatility may remain high as traders roll over positions in the derivatives segment from the April 2010 series to the May 2010 series ahead of the expiry of the near-month April 2010 contracts on Thursday, 29 April 2010. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicate that the Nifty could fall 12 points at the opening bell.

Politics is in focus as the Congress-led United Progressive Alliance government faces Opposition sponsored cut motion in parliament today against a hike in petrol and diesel prices in the Union Budget 2010-2011. Prime Minister Manmohan Singh on Monday said he is confident that his government will defeat the cut-motions on the Budget proposals. As per media reports, the BSP is expected to either vote in favour of the government or abstain from voting. BSP has 21 MPs in the Lok Sabha. If the cut motion is adopted, the government will have to step down.

Asian stock markets declined Tuesday after a directionless day on the Wall Street on Monday as investors awaited earnings from some of the region's biggest companies. The key benchmark indices in China, Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan fell by between 0.3% to 1.94%.

South Korea's economic growth accelerated more than estimated in the three months through March 2010. Gross domestic product increased 1.8% in the first quarter from the previous three months, when it rose 0.2%.

US stocks edged lower on Monday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar's strong results buoyed the Dow. The Dow Jones Industrial Average edged up 0.75 point, or 0.01%, to close at 11,205.03. The Standard & Poor's 500 Index dropped 5.23 points, or 0.43% to 1,212.05. The Nasdaq Composite Index lost 7.20 points, or 0.28% to 2,522.95.

Meanwhile, confidence in Greek assets sank to a new low on Monday, as German Chancellor Angela Morkel kept up the pressure on Greece, insisting on tougher austerity measures. Questions persist about when and how the aid package to Greece of up to 45 billion euros ($60 billion) might be delivered.

Back home, the Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 277 companies rose 31.8% to Rs 21685 crore on 44.6% rise in sales to Rs 196485 crore in the quarter ended March 2010 over the quarter ended March 2009.

The Indian Meteorological department (IMD) expects normal rainfall in the June-September monsoon season this year. Rainfall is likely to be 98% of the long-term average, the IMD said on 23 April 2010. Good monsoon rains would help raise farm output, boost rural incomes and lower food inflation. The south west monsoon 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. The quantum of rainfall in the crucial sowing month of July and distribution of rainfall during the monsoon season holds key.

The latest data showed the annual food and fuel inflation ticked higher, raising worries central bank may raise interest rates before the next scheduled policy review in July 2010. The food price index rose 17.65% in the year to 10 April 2010. The fuel price index rose 12.45% and the primary articles index rose 14.14% in the year to 10 April 2010, the latest government data showed.

The Reserve Bank of India 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.

In its half-yearly World Economic Outlook, the International Monetary Fund (IMF) has pegged India's GDP growth at 8.75% in calendar 2010 and 8.5% in calendar 2011. According to the IMF, domestic demand in India will strengthen as the labour market improves, and investment is expected to be boosted by strong corporate profitability, rising business confidence and favourable financing conditions.

Indian stocks rose for a fifth day in a row on Monday, 26 April 2010, after the Reserve Bank of India (RBI) raised interest rates on 20 April 2010 by less than some economists had expected and forecast inflation will slow. From a recent low of 17400.68 on 19 April 2010, the BSE Sensex jumped 345.60 points or 1.98% to 17745.28 on Monday, 26 April 2010. Optimism about the fourth quarter corporate earnings and hopes of a normal monsoon this year aided the rally

The RBI said it will continue to monitor macroeconomic conditions, particularly the price situation closely and take further action as warranted. A 25 basis points hike in the cash reserve ratio (CRR) with effective from 24 April 2010 will suck out excess liquidity of Rs 12500 crore from the banking system.

As per provisional figures on NSE, foreign funds bought shares worth Rs 234.23 crore and domestic funds sold shares worth Rs 73.69 crore on Monday.

Greece concerns pull down crude prices

Prices fluctuate throughout the day

Crude oil prices ended lower at Nymex on Monday, 26 April 2010. Persisting problems surrounding Greece and its budgetary deficit kept crude prices fluctuating. A strong dollar also pushed prices lower.

On Monday, crude-oil futures for light sweet crude for June delivery closed at $84.2/barrel (lower by $0.92 or 1.1%). During intra day trading, crude fell to a low of $83.96 and rose to a high of $85.68. Last week, crude ended higher by 0.5%. 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 5%.

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 153% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.

In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by 0.2%. The euro slipped as German Chancellor Angela Merkel said in a press conference, that aid would be provided to Greece if absolutely necessary and if Greece meets certain conditions, cautioning that an aid deal still needs to be worked out.

Other energy products followed crude oil lower on Monday. Gasoline for June delivery declined a penny, or 0.6%, to $2.3453 a gallon.

On Monday, natural-gas futures bucked the trend to post gains. Natural gas for June delivery, the most active contract, rose a penny, or 0.2%, to $4.3510 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 May delivery closed lower by Rs 44 (1.2%) at Rs 3,736/barrel. Natural gas for April delivery closed at unchanged at Rs 189.2/mmbtu.

Precious metals end marginally higher

Strong dollar restricts the gains

Precious metal prices ended marginally higher on Monday, 26 April 2010 at Comex. Persisting problems surrounding Greece and its budgetary deficit kept precious metals strong. However, a strong dollar restricted precious metals' gains.

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 June delivery ended at $1,154 an ounce, higher by $0.30 (0.03%) an ounce on the New York Mercantile Exchange. Earlier during the day, it fell to a low of $1,151.1 and rose to a high of $1,160.7. Last week, gold ended higher by 1.5%. For the month of March, gold slid 0.4%. For the first quarter of this year, gold rose by 1.7%, its sixth quarterly rise. On a year to date basis, gold is higher by 5.2%.

On Monday, May Comex silver futures ended higher by 14 cents (0.8%) at $18.33 an ounce. Last week, silver lost 2.9%. For the month of March, silver ended higher by 5%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 7.7%.

In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by 0.2%.

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 June delivery closed lower by Rs 22 (0.13%) at Rs 16,968 per ten grams. Prices rose to a high of Rs 17,015 per 10 grams and fell to a low of Rs 16,945 per 10 grams during the day's trading.

At the MCX, silver prices for May delivery closed Rs 28 (0.1%) higher at Rs 27,730/Kg. Prices opened at Rs 27,749/kg and rose to a high of Rs 27,835/Kg during the day's trading.

Copper remains strong for second straight day

All base metals gain other than aluminum

Copper prices ended higher for the second straight day at Comex on Monday, 26 April 2010. Persisting problems surrounding Greece and its budgetary deficit kept metal prices strong. However, a strong dollar restricted metals' gains. But last week's strong housing data kept prices steady.

At USA, copper futures for July delivery ended higher by 1.75 cents (0.5%) at $3.548 a pound on Monday. Last week, prices lost 1.9%. 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 5%.

Prices have increased by almost 72.5% in the past twelve months due to higher imports from China. Copper ended FY 2009 higher by 140%.

On Monday, at LME, copper for delivery in three months ended higher by $45 (0.6%) at $7,795. Prices had crossed the $8,000 mark for first time since 2008 on 6 April. On 3 July, 2008, prices had touched an all time intra day high of $8,940.

In the currency market on Monday, the dollar index, which measures the strength of the dollar against basket of six other currencies rose by 0.2%. The euro slipped as German Chancellor Angela Merkel said in a press conference, that aid would be provided to Greece if necessary and if Greece meets certain conditions, cautioning that an aid deal still needs to be worked out.

The Commerce Department in US had reported on Friday, 23 April 2010 that sales of new homes in US surged 27% in March to a seasonally adjusted annual rate of 411,000 after hitting a record low in February. The increase in sales was boosted by soon-to-expire tax break, low mortgage rates, and favorable weather. It was the largest percentage gain in sales since April 1963. It was the highest sales pace since July, and much stronger than the 335,000 expected. Sales in December, January and February were revised higher. In February, sales were revised to a 324,000 annualized pace, up from 308,000. It's still the lowest on record, dating to 1963. Sales are up 24% compared with March 2009, but are down 70% from the peak in 2005.

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 higher by Rs 0.05 (0.01%) at Rs 345/Kg. Prices rose to a high of Rs 347.5/Kg and fell to a low of Rs 344.45/Kg during the day's trading.

Among other metals traded in the LME on Monday, lead ended 0.2% higher at $2,330 a ton and zinc ended 0.4% higher at $2,430 a ton. Nickel ended 0.8% higher at $27,325. Aluminum ended 1.6% lower at $2,315 a ton.

Daily News Roundup - Apr 27 2010

Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company (SMC). (BS)

ONGC ultimate reserve accretion (including its joint ventures) in domestic fields in 2009-10 has been 87.37mn tons oil and oil equivalent gas (mtoe) against the MoU target of 76.28mtoe (114.5% achievement). (BL)

The Orissa government has asked the public sector Nalco to give its consent for floating a SPV for local area development of the Potangi bauxite project area in Koraput district. (BS)

Three public sector units- Coal India, GAIL and RCF will form a consortium to revive the closed unit of Fertilizer Corporation of India at Talcher at a cost of Rs100bn. (BS)

The US Food and Drug Administrator has approved Glenmark Pharmaceutical’s oral contraceptive hormone-based drug norethindrone. (ET)

Dr Reddys Labs has begun the sale of Amlodipine Benazepril capsules, used for the treatment of hypertension, in the US. (ET)

Jay Shree Tea & Industries Ltd, belonging to the B K Birla Group, has acquired three tea gardens in East Africa – two in Rwanda and one in Uganda. (BL)

The Electrical and Automation Company, part of Larsen & Toubro, has bagged a Rs2.1bn order from the Maharashtra State Electricity Distribution Co to integrate power distribution in the State and facilitate online monitoring. (BL)

SAIL’s board may approve granting up to 74% equity to South Korean steel giant Posco in the proposed Rs110bn plant to be built jointly in Jharkhand. (BS)

Jaypee Group to bid for Federa airport's infra projects. (BS)

Bridgestone India will invest Rs26bn over the next five years to set up a manufacturing facility in Chakan, near Pune. (BL)

Tech Mahindra and Wipro are in the race for New Zealand's biggest phone firm Telecom Corp, contract potentially worth up to US$1bn. (ET)

Sun Pharmaceutical has received a setback in US litigation after a New Jersey district court decided that its top selling drug, pantoprazole, was infringing Wyeth’s patent (ET)

EID Parry has announced for acquiring a majority stake in GMR Industries, the agri-business arm of GMR Group. It plans to purchase a minimum of 65%, currently worth Rs1.5bn. (FE)

Hindustan Motors plans to roll out the Bharat Stage IV compliant CNG version of its mini truck 'HM Shifeng Winner' in new states like Maharashtra and Punjab over next few months. (ET)

Big Cinemas has acquired a chain of 188 screens in more than two dozen cities in the US, covering almost all the major centers of South Asian population from Manhattan and Edison in East Coast to Los Angeles and San Jose in California and Chicago in the Mid-West. (FE)

Punjab & Sind Bank (PSB) plans to come out with an initial public offering (IPO) to raise Rs4-5bn in end June or July first week. (BL)

The Government has fixed a price band of Rs 23-26 a share for the initial public offer of Satluj Jal Vidyut Nigam. (ET)

Non-life insurers clock 13.4% growth in 2009-10. (BS)

The RBI has initiated an exercise to set up a housing start-up index (HSUI) to track new residential projects in 31 major cities and measure the changes in construction activities. (FE)

Another dull day in offing

Growth, in some curious way, depends on being always in motion just a little bit, one way or another. - Norman Mailer

For the time being, the market’s motion somehow seems to have stalled. The key indices remain stuck in a range and a major breakout is not on the cards anytime soon. Earnings are mixed. The ones that are beating estimates are seeing some upgrades but those are few and far between. One may have to wait for an across-the-board 'market upgrade' for 2-3 quarters.

We expect a lackluster start due to mixed global cues. Markets in the US barely moved though European markets managed strong gains despite resurfacing of the jitters over Greece. Asian markets are mostly in the red. The NSE Nifty is likely to face resistance between 5350 and 5400. Support will kick in at 5200 in case of a fresh fall.

Coming back to motion, the Government will face some more music in parliament today. The opposition has called for a cut-motion on two Budget measures but reports suggest the UPA is comfortably placed in terms of numbers. F&O expiry and Fed meet are the events to watch out for later this week. The broader market will continue to hog the limelight as more results pour in.

Results Today: Aventis Pharma, Concor, Dena Bank, Gillette India, GSK Pharma, Greaves Cotton, IDFC, Ispat Industries, JSW Energy, Motilal Oswal Financial, Petronet LNG, Piramal Life, PFC, PTC India, Raymond, Shree Renuka Sugars, Sobha Developers, TAJ GVK Hotels, Welspun Gujarat and Yes Bank.

FIIs were net buyers of Rs2.34bn on Monday on a provisional basis. Local funds were net sellers of Rs736.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs3.66bn. On Friday, FIIs were net buyers of Rs8.80bn in the cash segment, as per the SEBI web site.

In terms of global markets, US stocks ended mixed. The Dow Jones Industrial Average finished flat but still managing a fresh 19-month high. Strong earnings from Caterpillar and Whirlpool were countered by weakness in financials.

The Obama administration's plan to begin divesting itself of Citigroup weighed on the banking sector. Citigroup shares fell 5.1% after the Treasury Department said that it would sell up to 1.5 billion of the bank's shares.

The Dow ended just above unchanged at 11,205.03. The S&P 500 index lost 5 points, or 0.4%, at 1,212.05 after ending Friday's session at a 19-month high. The Nasdaq Composite shed 7 points, or 0.3%, at 2,522.95 after ending the previous session at the highest point in almost two years.

The dollar gained versus the euro and yen.

The dollar index, which measures the US unit against a trade-weighted basket of six other currencies, recently traded at 81.316, down from 81.41 late on Friday.

US light crude oil for June delivery fell 92 cents to settle at $84.20 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery rose 30 cents to settle at $1,153.70 per ounce.

Treasury prices were little changed, with the yield on the 10-year note at 3.82%, unchanged from late on Friday.

Decliners edged past advancers by about 16 to 14 on the New York Stock Exchange, where 1.2 billion shares traded hands. Composite volume neared 5.9 billion.

Stocks were volatile through the session as investors welcomed Caterpillar's earnings and forecast but showed reluctance at the start of a busy week. Stocks had gained on Friday after a surprisingly strong new-home sales report. The Dow, Nasdaq and S&P 500 all gained last week. The Dow has now gained eight weeks in a row, the longest wining streak since January 2004.

The Fed's two-day policy meeting concludes on Wednesday, with a statement due in the afternoon. Reports on jobless claims, consumer confidence and gross domestic product (GDP) are due later this week.

While the trend for the market remains up, there are still headwinds, including any fallout from Goldman Sachs' fraud charge, the debate over financial reforms and Greece's lingering debt issues.

Goldman Sachs shares fell ahead of a Senate hearing on Tuesday aimed at investigating the role investment banks played in the 2008 financial crisis. Goldman CEO Lloyd Blankfein, Fabrice Tourre, the only Goldman employee named in the SEC's fraud charge, and other Goldman employees will be among those testifying.

E-mails released on Monday showed that Tourre - who helped create a bond deal tied to subprime mortgages that regulators say defrauded investors - knew the complex deals were bunk. The release of the emails came amid another partisan battle on Capitol Hill, with Republicans vowing to block an overhaul of financial regulation.

Separately, the Obama government said it will sell up to 1.5 billion shares in Citigroup in its latest move toward withdrawing some of the support for big banks it put in place during the height of the financial crisis. The sales are equivalent to about one-fifth of the government's ownership stake and would reduce its holdings to roughly 22% of the company. Citigroup shares plunged 5%.

Other bank shares fell too, dragging the KBW Bank sector index down 3%.

Heavy-machinery maker Caterpillar reported higher quarterly earnings that beat estimates on weaker revenue that missed estimates. The company said that the economic outlook is improving, but that it is cutting its outlook for housing starts by 20% due to the weak labor market. The Dow component also boosted its 2010 profit forecast. Shares gained 4.2%.

Whirlpool reported higher quarterly sales and earnings that beat estimates due to stronger sales of its appliances both domestically and abroad. The company also reported a stronger 2008 profit. Shares gained 14%.

With roughly 34% of the S&P 500 having reported results, earnings are currently on track to have risen 50% from a year ago, while revenues are on track to have risen 11%, according to tracker Thomson Reuters. So far, about 83% of earnings and 81% of revenues have topped estimates.

Hertz said it will buy Dollar Thrifty in a $1.2 billion cash and stock deal that combines the two car rental companies.

Retail stocks rose, helped by a 5.9% gain in Office Depot shares. Analysts said that the office-supplies retailer might show improved sales when it reports quarterly results on Tuesday.

After the bell, Senate Republicans, united in opposition to the Democrats' legislation to tighten regulation of the financial system, voted to block the start of floor debate.

The vote was 57 to 41, as Democrats fell short of the 60 votes needed to cut off a filibuster of the motion to proceed to the bill.

One Democrat, Senator Ben Nelson of Nebraska, sided with Republicans apparently on concerns over a provision related to tightening the rules on derivatives trading.

European shares advanced, although worries about Greece's finances surfaced once again. The Stoxx Europe 600 index rose 1.1% to 270.23, moving back toward the 18-month closing high of 272.14 that the benchmark hit on April 15.

The French CAC-40 index rose 1.2% to 3,997.39, the German DAX index added 1.2% to 6,332.10 and the U.K.'s FTSE 100 index gained 0.5% to 5,753.85.

Greek banks failed to take part in the broad gains for Europe. The Greek ASE Composite Index, which lost 2.9% to 1,804.91. The euro declined 0.4% to trade at $1.3324 against the dollar.

The cost of insuring Greek, Portuguese and Spanish government debt soared to record intraday levels as relief following Friday's announcement that Greece would tap a joint European Union-IMF rescue package proved to be short-lived amid reported discord over terms.

Indian stocks managed modest gains on Monday as investors mulled slightly disappointing results from index heavyweights Reliance Industries and Maruti. Gains in Metals, Banks, IT and Capital Goods stocks were countered by weakness in Real Estate, Oil & Gas, Pharma and Auto stocks.

"The key Indian indices were largely rangebound and lackluster throughout the day with the BSE Sensex moving in a narrow band of 134 points. The tepid performance by Indian indices was in contrast to fairly good gains witnessed across Asia and Europe," said Amar Ambani, Vice President - Research, IIFL.

The BSE Sensex closed at 17,745.28, up 51 points or 0.3% over the previous close. It touched a high of 17,826 after opening at the day's low of 17,692. The NSE Nifty finished at 5,322.45, up 18 points or 0.35%.

The BSE Small-Cap index and Mid-Cap index erased some of the early gains and ended higher by 5% and 0.6%, respectively.

In terms of sectoral performance, Metals stood out with a 2.3% gain in the BSE Metals index. Banking and IT sector indices also did well along with select gains in Power and Capital Goods shares.

On the other hand, Auto, Pharma, Oil & Gas, Real Estate stocks were the laggards today. The FMCG index turned flat after seeing some early gains.

Within the Sensex, the top gainers were Sterlite Industries, HDFC, Hindalco, HDFC Bank, M&M, Tata Steel, Jaiprakash Associates and Hindustan Unilever. Among the major losers were Sun Pharma, DLF, Maruti, Reliance Industries and ICICI Bank.

Outside the key indices, the notable gainers were Country Club, Indian Bank, Gati, Sasken, Balmer Lawrie, Great Offshore, Jain Irrigation, Gujarat NRE Coke, Graphite India, UTV Software, Navneet Publication, Finolex Industries, 3M India, SKF India, Dalmia Cement, Greaves Cotton and Corporation Bank.

The list of losers include the likes of Prithvi Info, Zee News, Balrampur Chini, Hexaware and Kirloskar Brothers.

European markets, which had opened smartly higher, came off a bit while Asian stocks climbed, led by the biggest gain in the Nikkei 225 Stock Average in seven weeks. Commodities rallied as economic reports pointed to faster growth in the US and concerns about Greece’s debt abated.

In currency markets the yen weakened. The euro declined, sliding for the seventh time in eight days against the dollar, on concerns that the EU-IMF bailout plan for Greek will face hurdles as donor countries begin ratifying the aid package.

US stock futures moved slighter higher on Monday morning. Standard & Poor’s 500 Index futures gained 0.1%.

The MSCI Asia Pacific Index increased 1.6% to 127.25 and the Stoxx Euro 600 rose 1% to 270.14 as of 4 p.m. in Tokyo. The Nikkei jumped 2.3%, the most since March 5. Hong Kong’s Hang Seng Index climbed 1.5% and Taiwan’s Taiex advanced 1.9%.

Meanwhile, Greek bonds tumbled, pushing yields to the highest since at least 1998, on speculation that Germany may refuse to guarantee an early release of bailout funds. The premium investors demand to hold Greek 10-year notes rather than German bunds touched a record 6%.

Equities worldwide gained on Friday after Greece decided to tap into the EU-IMF loan. Greece’s request for a US$60bn bailout doesn’t reduce the risk of default next year, according to some experts.

Equities may open flat-to-negative

Headlines for the day:

Insurance firms set to defy SEBI

Pharma firms see scope in US patent expiry

Tata Projects among 13 to certify city gas networks

Events for the day:

Major corporate action

Mandhana Industries IPO opens today
Nitesh Estates IPO closes today
Results: Shree Renuka Sugars, Glaxosmithkl Pharma, PTC India
For more events, log on to Sharekhan.com

Pre-market report

Global signals

The European shares ended at their highest level in nearly a week on Monday as strong US economic numbers on Friday and encouraging earnings boosted sentiment, although Greece's debt situation prompted investors to stay cautious.

The US stocks edged lower on Monday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar's strong results buoyed the Dow

In today's trade, the Asian markets were trading on a negative note. At the time of writing this report, SGX Nifty was trading 13 points lower.

Indian markets

The Indian equities are likely to open on a flat to negative note owing to the weak Asia cues. However, as seen in the last trading sessions, the markets have remained volatile and traded in a tight band owing to the F&O expiry for the April series due later this week. The trader who takes a shorter view should remain cautious.

Commodity cues

In the commodity space, the crude oil prices fell more than 1% Monday as initial optimism about Greece's bailout waned, sending the dollar higher against the euro, with the Nymex light crude oil for the May series down by $0.92 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $0.40 and the Comex Silver for the May series was increased by $0.14 to a troy ounce respectively.

Daily trend of FII/MF investment in equities

On April 26, 2010, the FIIs were the net buyers of the Indian stocks to the tune of Rs879.90 crore, whereas the domestic mutual funds, on April 22, 2010, were the net buyers of the stocks to the tune of Rs247.60 crore.

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