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Friday, April 30, 2010
Jet Airways adjudged as best airline
Jet Airways has been adjudged the 'Best International Airline' at the Condé Nast Traveller India awards.
At a glittering ceremony in Mumbai last night, India's preferred international carrier was honoured with the prestigious award over several other leading international airlines. This award has been introduced by British Condé Nast Traveller magazine, together with Vogue.com and cntraveller.in to celebrate the launch of Condé Nast Traveller in India in October 2010.
Sudheer Raghavan, chief commercial officer, Jet Airways said, "We are proud and honoured to receive this award from Condé Nast Traveller in recognition of our renowned international service. Jet Airways is committed to delivering truly world class service and has worked to continuously enhance the excellent in-flight services on all our flights. The 'Best Indian Airline' award is testimony to our commitment to focus on the needs of the passenger and to enhance the Jet Airways experience for our customers. We will persist in our endeavor to exceed customer expectations and create benchmarks in service standards for others to follow."
With 23 international destinations and 85 daily international flights, Jet Airways along with Jetlite is the largest private airline operator in the country. Jet Airways currently flies to New York (both JFK and Newark), Toronto, Brussels, London (Heathrow), Hong Kong, Singapore, Kuala Lumpur, Colombo, Bangkok, Kathmandu, Dhaka, Kuwait, Bahrain, Muscat, Doha, Abu Dhabi, Dubai, Jeddah, Sharjah, Dammam and Riyadh. Johannesburg is the twenty-third destination recently added in the airline's international network.
For the domestic market, Jet Airways recently launched the all-new 'Konnect Select', a premium cabin on several domestic routes, effective April 26, 2010. 'Konnect Select' is specifically targeted at the business and leisure travelers who desire more flexibility, comfort and benefits.
In today's trade, the stock closed at Rs537.85, up by 2.25%, with a volume of 2.77 lakh shares on the BSE.
Nifty May 2010 futures at discount
Turnover declines
Nifty May 2010 futures were at 5260.50, at a discount of 17.50 points to spot closing of 5,278. Turnover in NSE's futures & options (F&O) segment was Rs 58,815.19 crore, sharply lower than Rs 1,25,435.85 crore on Thursday, 29 April 2010.
Reliance Industries May 2010 futures were at discount at 1027.15 compared to the spot closing of 1031.55.
Tata Motors May 2010 futures were at discount at 871 compared to the spot closing of 873.95.
ICICI Bank May 2010 futures were near spot price at 947.30 compared to the spot closing of 948.20.
In the cash market, the S&P CNX Nifty rose 23.85 points or 0.45% at 5,278.
Asian equities fight back
Strong earnings report pushed the markets up, concerns surrounding Euro zone debt abate slightly as well
Asian equities edged up today as strong earnings report pushed the markets up and the concerns surrounding Euro zone debt abated a little after euro-zone officials said a bailout package for the cash-strapped nation could be ready soon. The commodity prices were also higher, pushing resources stocks higher on hopes of strong demand. US dollar eased from previous highs, spurring sentiments in risky assets.
The Australian stocks snapped three-days of losses and ended in positive territory on Friday, taking cues from Wall Street where the major averages ended with modest gains led by earnings and speculation that debt crisis in Greece might be resolved shortly. Positive earnings from Macquarie Group set up a nice stage for the broad markets and the benchmark S&P/ASX200 Index added 21.80 points, or 0.46% to close at 4,807, while the All-Ordinaries Index ended at 4,834, representing a gain of 17.80 points, or 0.37%.
Investors in Japan, returning from a national holiday yesterday, pushed the benchmark Nikkei more than 1% as the weakening of the local currency against the US dollar and positive trading across other markets in the region also lifted market sentiment. The policy board of the Bank of Japan unanimously decided to retain the overnight call rate at 0.10%, in line with market expectations. The central bank said in a statement that it would be necessary to strengthen the foundations for economic growth and that it was considering further easing measures to support the economy. The benchmark Nikkei 225 Index rose 132.61 points, or 1.21%, to 11,057.40, while the broader Topix index of all First Section issues was up 9.40 points, or 0.96%, to 987
Further on the economic front, a report released by the Ministry of Economy, Trade and Industry revealed that an index measuring industrial production in Japan increased a seasonally adjusted 0.3% in March compared to the previous month, posting a score of 94.0. On an annual basis, industrial output surged 30.7% following the 31.3% spike in the previous month.
The South Korean market ended higher, recouping most of this week's steep losses and the Kospi advanced 0.8%. In other markets, New Zealand's NZX 50 ended up 0.1% and Philippine stocks dropped 0.2%. Hong Kong's Hang Seng Index rose 1.6% and China's Shanghai Composite inched up 0.1%, reversing early losses. Both these markets continued to underperform their Asian peers, on lingering worries about policymakers' determination to cool property markets in the world's fastest growing economy.
In Mumbai, shares rose for the third straight month as it closed 0.3 % higher on Friday, helped by gains in Asian equities, with financials and outsourcers leading the charge. The 30-share BSE index rose 0.32 %or 55.24 points to finish at 17,558.71 points.
In foreign-exchange markets, the euro was consolidating recent gains after Thursday's modest recovery, spurred by expectations euro-zone officials will have a final bailout plan for Greece ready within days. The single currency moves pass 1.3300 threshold and hit a three session high of 1.3333. Dow Jones Industrial Average futures were 20 points lower in screen trade but are displaying an ascending tendency. Crude oil futures topped $86 per barrel and eased on profit sales. The light, sweet crude oil for front month delivery was quoting at $85.53 per barrel when last seen, up 35 cents from the previous close.
Next batch of Q4 results will set the tone
Global cues may continue to guide the domestic market. The focus also remains on the fourth quarter results. The results announced so far have been fairly encouraging. The combined net profit of a total of 603 companies rose 29% to Rs 31966 crore on 34.4% rise in sales to Rs 284361 crore in the quarter ended March 2010 over the quarter ended March 2009.
HDFC will announce its Q4 result on Monday, 3 May 2010. Among other key results next week include Cipla, Idea Cellular, Jindal Steel & Power, Lupin, Punjab National Bank and Dr. Reddy's Laboratories, and JSW Steel.
Reliance Industries (RIL) and Reliance Natural Resources (RNRL) will be in focus as the Supreme Court is expected to pronounce its verdict on the sale of natural gas by Reliance Industries (RIL) to Reliance Natural Resources (RNRL) shortly. The final judgement may impact the fortunes of two of India's largest business groups.
Auto, cement and steel companies will be in focus as they will announce the sales figures for the month of April 2010.
On the macro front, the HSBC Markit Purchasing Managers' Index which will give indication of the performance of manufacturing sector for April 2010 will be watched. Also, the HSBC Markit Business Activity Index for April 2010 will give indication about the performance of the services sector in April 2010.
Export-Import figures for the month of March 2010 will be announced by the government next week.
The government is slated to announce industrial output data for the month of March 2010 on 12 May 2010. Industrial output rose by lower than expected 15.1% February 2010 and also lower than 16.7% rise in January 2010.
On the global front, investors are awaiting details of the measures from the European Union and the International Monetary Fund to tackle the debt crisis in Greece and prevent contagion into other regions. On Thursday, 6 May 2010, both the Bank of England (BoE) and the European Central Bank hold regular policy meeting for interest rates.
RIL, Sun Pharma tumble
The market edged lower in volatile trade as unease over euro zone sovereign debt levels weighed on world equities. However, expectations of a normal monsoon this year and optimism about fourth quarter corporate earnings capped the decline on the domestic bourses. The European debt crisis spread after S&P slashed its credit ratings on Greece and Portugal. The rating firm also lowered its credit rating on Spain amid concerns about the country's growth prospects following the collapse of a construction bubble. The downgrades escalated fears of a contagion that could raise borrowing costs for European countries and derail an economic recovery.
The BSE Sensex fell 135.49 points or 0.77% to 17558.71 in the week ended 30 April 2010. The S&P CNX Nifty declined 26.10 points or 0.49% to 5,278 in the week. The market gained in three out of five trading sessions in the week.
The BSE Mid-Cap index rose 0.74% and the BSE Small-Cap index gained 0.08%. Both the indices outperformed the Sensex.
The key benchmark indices edged higher for the fifth straight day on Monday, 26 April 2010 on firm global stocks and forecast of a normal monsoon this year. The BSE 30-share Sensex rose 51.08 points or 0.29% to 17,745.28.
The market edged lower on Tuesday, 27 April 2010, snapping gains in the preceding five trading sessions, on weak global stocks. The BSE 30-share Sensex lost 54.66 points or 0.31% to settle at 17,690.62.
The key benchmark indices extended losses for the second straight day on Wednesday, 28 April 2010 as world stocks reeled from rating downgrades on Greece and Portugal. The BSE 30-share Sensex fell 310.54 points or 1.76% to 17380.08.
The market rebounded after a two-day slide on Thursday, 29 April 2010, tracking gains in European stocks and higher US index. The BSE 30-share Sensex rose 123.39 points or 0.71% to 17,503.47.
Profit booking in the second half of the day's trading session capped gains in the key benchmark indices on Friday, 30 April 2010. The BSE 30-share Sensex rose 55.24 points or 0.32% to 17,558.71.
The Lok Sabha on Thursday, 29 April 2010, passed the Finance Minister Pranab Mukherjee's Budget for 2010-11 by a voice vote with some minor concessions. The concessions will reduce the incidence of service tax on housing and air travel, incentivise construction of big hospitals, keep cancer and anti-AIDs drugs cheap and provide relief to debt-ridden coffee growers. However, the government held firm not to roll back hike in prices of petrol and diesel. With the passage of the Bill by the Lok Sabha, the three-stage budgetary process stands completed.
On the macro front, 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 food price index rose 16.61% in the year to 17 April 2010, data released by the government on Thursday, 29 April 2010, showed. The rise in food prices inflation was slower than an annual rise of 17.65% in the previous week. But, fuel price inflation quickened. The fuel price index rose 12.69% in the year to 17 April 2010 a year ago, faster than the previous week's 12.45% rise. The primary articles index was up 13.55% in the year to 17 April 2010.
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 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.
The RBI at its annual policy review, on 20 April 2010, 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.
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.
The Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 660 companies rose 25.8% to Rs 33470 crore on 32.5% rise in sales to Rs 302678 crore in the quarter ended March 2010 over the quarter ended March 2009.
The government on Thursday, 29 April 2010, kicked off its disinvestment programme for the fiscal year March 2011 with the initial public offering (IPO) of the state-run SJVN. The government plans to raise Rs 1000 crore through the IPO, and is offloading 10% of its stake in the company. The IPO was subscribed 43% on day one.
The Congress-led United Progressive Alliance government sailed through a trial of strength in parliament on Tuesday, 27 April 2010, by defeating the cut motion demanded by opposition parties against an unpopular hike in fuel and fertiliser prices with smaller parties giving it a leg up to achieve a surprisingly strong victory for the government. However, major reforms may take a backseat for the some time to come as there is a stiff resistance by the opposition on fears it may hurt the poor.
Index heavyweight Reliance Industries (RIL) fell 5.04%. RIL reportedly plans to sell gas to retail consumers in the US and will use its newly built partnership with Atlas Energy to build a brand name in the US market.
RIL said on Wednesday 28 April 2010 it had discovered oil in one of its exploration blocks in the Cambay basin on India's western coast, the block in which it holds 100% controlling interest. This is its fourth oil discovery in the region.
Interest rate sensitive banking shares were mixed. India's second largest private sector bank by net profit HDFC Bank gained 2.43%. But, India's largest private sector bank by net profit ICICI Bank fell 2.59%.
India's biggest commercial bank in terms of branch network State Bank of India rose 1.18% on recent brokerage upgrades on the counter. A prominent foreign brokerage 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.
Most auto stocks advanced ahead of the release of April 2010 monthly sales data next week. India's largest commercial vehicle maker by sales Tata Motors surged 3.3% to Rs 872.85. The stock hit a 52 week high of Rs 877.90 on Friday, 30 April 2010. India's largest tractor maker by sales Mahindra & Mahindra (M&M) rose 1.07%. India's largest motorbike maker by sales Hero Honda Motors rose 1.13%. But, India's largest car maker by sales Maruti Suzuki India slumped 6.03%.
Sun Pharmaceutical Industries declined 6.99%. 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.
Larsen & Toubro (down 0.59%), Tata Consultancy Services (down 1.77%), Wipro (down 2.81%), Tata Steel (down 4.57%) were the other losers from the Sensex pack.
BSE Bulk Deals to Watch - Apr 30 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/4/2010 532212 Archies SMART EQUITY BROKERS PRIVATE LIMITED B 35509 114.36
30/4/2010 532212 Archies TRANSGLOBAL SECURITIES LTD. B 60174 114.18
30/4/2010 532212 Archies CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 50115 115.25
30/4/2010 532212 Archies MBL & Co. LTD. B 34222 113.97
30/4/2010 532212 Archies MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 38505 113.92
30/4/2010 532212 Archies OPG SECURITIES P LTD B 98338 114.83
30/4/2010 532212 Archies SMART EQUITY BROKERS PRIVATE LIMITED S 35509 114.44
30/4/2010 532212 Archies TRANSGLOBAL SECURITIES LTD. S 60174 114.29
30/4/2010 532212 Archies CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 50115 115.62
30/4/2010 532212 Archies MBL & Co. LTD. S 34222 114.04
30/4/2010 532212 Archies MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 38505 114.18
30/4/2010 532212 Archies OPG SECURITIES P LTD S 98338 114.90
30/4/2010 532047 Asian Films LUCKYGIRL FASHION PRIVATE LTD B 69749 3.50
30/4/2010 505029 Atlas Cycle RAJESHRI NAIMESH MEHTA B 17239 227.56
30/4/2010 505029 Atlas Cycle SMART EQUITY BROKERS PRIVATE LIMITED B 21639 231.71
30/4/2010 505029 Atlas Cycle KANCHAN CHHABRA B 28816 225.86
30/4/2010 505029 Atlas Cycle OPG SECURITIES P LTD B 18214 230.97
30/4/2010 505029 Atlas Cycle RAJESHRI NAIMESH MEHTA S 17238 228.21
30/4/2010 505029 Atlas Cycle SMART EQUITY BROKERS PRIVATE LIMITED S 21639 231.14
30/4/2010 505029 Atlas Cycle KANCHAN CHHABRA S 28816 227.57
30/4/2010 505029 Atlas Cycle OPG SECURITIES P LTD S 18214 230.90
30/4/2010 511607 Birla Shloka TEJAL MERCHANTILE PRIVATE LIMITED S 92360 75.90
30/4/2010 590061 Brushman India SICPA INDIA LTD S 90350 8.04
30/4/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE B 600000 11.06
30/4/2010 533026 Chemcel Bio SUNIL BHANDARI S 135592 11.04
30/4/2010 533026 Chemcel Bio REKHA BHANDARI S 453641 11.07
30/4/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED B 113713 20.87
30/4/2010 517973 DMC Intl ATUL MITTAL B 136426 21.79
30/4/2010 517973 DMC Intl MAHENDER SINGH B 200915 20.92
30/4/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED B 171722 21.79
30/4/2010 517973 DMC Intl SHARK COMMUNICATION PVT LIMITED B 233581 21.45
30/4/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED S 113713 21.11
30/4/2010 517973 DMC Intl ATUL MITTAL S 136426 21.61
30/4/2010 517973 DMC Intl MAHENDER SINGH S 202088 21.81
30/4/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED S 173180 21.50
30/4/2010 517973 DMC Intl SHARK COMMUNICATION PVT LIMITED S 145046 20.95
30/4/2010 517477 Elnet Tech SAINATH HERBAL CARE MARKETING P.LTD B 45835 64.10
30/4/2010 517477 Elnet Tech SAINATH HERBAL CARE MARKETING P.LTD S 47094 63.49
30/4/2010 532818 Evinix Accss SHEETAL M SHETH B 1672285 4.03
30/4/2010 532818 Evinix Accss SHEETAL M SHETH S 1672285 3.91
30/4/2010 590094 FARMAX IND S K TRADING (S K CHOURASIA) B 115000 131.38
30/4/2010 532666 FCS Software AMAR KANAIYALAL CHAUHAN B 2765218 4.00
30/4/2010 532666 FCS Software AMAR KANAIYALAL CHAUHAN S 2765218 4.01
30/4/2010 532022 Filatex Fash DEEPAK BHANSALI B 228040 11.50
30/4/2010 532022 Filatex Fash B K DYEING & PRINTING MILLS PVT LTD S 40000 11.50
30/4/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. B 201898 25.48
30/4/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. S 199898 25.50
30/4/2010 526717 Gopala Poly DIPAK K SHAH B 225000 6.00
30/4/2010 532836 Gremach Infra INTERNATIONAL SYNTHFABS PVT LTD B 150000 25.95
30/4/2010 532836 Gremach Infra SHILPA STOCK BROKER PRIVATE LIMITED S 152000 25.95
30/4/2010 505893 Hindustan Hardy BHUPENDRA CHHAGANLAL LALSODAGAR B 10534 107.26
30/4/2010 531524 ICSA India DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD B 431370 131.90
30/4/2010 531524 ICSA India DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 331370 134.00
30/4/2010 524342 Indo Borax EQUITY INTELLIGENCE INDIA PRIVATE LIMITED S 30000 79.96
30/4/2010 532100 Indo City Info ANIL JAIN HUF B 86000 6.12
30/4/2010 517063 Jetking Info ASHOK KUMAR BILGAIYAN B 35368 179.09
30/4/2010 517063 Jetking Info ASHOK KUMAR BILGAIYAN S 35368 180.35
30/4/2010 533103 JINDALCOTEX CRYSTAL SHELTER PRIVATE LIMITED S 230000 87.00
30/4/2010 590084 KANCO ENTER CAMPHAR SECURITIES AND ADVISORY PRIVATE LIMITED B 105100 11.05
30/4/2010 590084 KANCO ENTER SMIFS CAPITAL MARKET LTD S 150000 11.00
30/4/2010 508306 Ledo Tea VEENASHANTILALGANDHI B 6000 97.46
30/4/2010 508306 Ledo Tea M. D. BHOOLA & CO B 12301 96.82
30/4/2010 508306 Ledo Tea BHOOLA SECURITIES B 5224 96.37
30/4/2010 508306 Ledo Tea M. D. BHOOLA & CO S 9920 97.00
30/4/2010 502250 Marathwada Refrac DIWAKAR BHAGWATI GANDHI B 9000 350.30
30/4/2010 502250 Marathwada Refrac ASHOKKUMAR RUIA S 7200 350.30
30/4/2010 532986 Niraj Cement HARSH VARDHAN JAIN B 52787 50.44
30/4/2010 532986 Niraj Cement HARSH VARDHAN JAIN S 52787 49.88
30/4/2010 531496 Omkar Overseas DIPAL DEVENDRAKUMAR SHAH B 43400 70.19
30/4/2010 531496 Omkar Overseas PRANALI COMMODITIES PVT.LTD S 25464 70.03
30/4/2010 531496 Omkar Overseas VIJAY VELJIBHAI PADHARIA S 25000 70.22
30/4/2010 531496 Omkar Overseas DIPAL DEVENDRA SHAH S 30000 69.95
30/4/2010 531496 Omkar Overseas SHALLY PRAVINKUMAR JAIN S 50000 70.36
30/4/2010 512097 Oregon Comm SONI KRUPA SANJAY B 7414 278.20
30/4/2010 512097 Oregon Comm J M SONI CONSULTANCY B 17752 277.79
30/4/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI B 14800 278.92
30/4/2010 512097 Oregon Comm VIPUL VIRENDRAKUMAR PATEL B 7000 279.00
30/4/2010 512097 Oregon Comm SONAL BHUPENDRABHAI KAMODIA B 25000 279.00
30/4/2010 512097 Oregon Comm PATEL VIPUL B 15000 279.00
30/4/2010 512097 Oregon Comm JAYBHAI ARVINDBHAI DHAMECHA B 5880 277.88
30/4/2010 512097 Oregon Comm PRADEEP NARENDRA BHATT B 6000 279.00
30/4/2010 512097 Oregon Comm DHANANJAY FINANCIAL SERVICES PVT LTD B 7000 279.05
30/4/2010 512097 Oregon Comm JIGESH AMRUTLAL HIRANI B 18200 279.00
30/4/2010 512097 Oregon Comm VIPUL VIRENDRAKUMAR PATEL B 18300 279.00
30/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI B 31171 277.80
30/4/2010 512097 Oregon Comm CHETANKUMAR KANTILAL SHAH B 5000 275.96
30/4/2010 512097 Oregon Comm SONI KRUPA SANJAY S 5714 278.99
30/4/2010 512097 Oregon Comm KRUPA SANJAY SONI S 6101 279.31
30/4/2010 512097 Oregon Comm J M SONI CONSULTANCY S 17752 278.76
30/4/2010 512097 Oregon Comm KRUPA SANJAY SONI S 44599 277.92
30/4/2010 512097 Oregon Comm SONAL BHUPENDRABHAI KAMODIA S 10000 278.75
30/4/2010 512097 Oregon Comm KRUPA SANJAY SONI S 12470 279.00
30/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 20932 279.72
30/4/2010 512097 Oregon Comm PATEL VIPUL S 5000 278.00
30/4/2010 512097 Oregon Comm JAYBHAI ARVINDBHAI DHAMECHA S 5880 278.06
30/4/2010 512097 Oregon Comm PRAVINBHAI DADUJI THAKOR S 5500 279.36
30/4/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 26171 278.46
30/4/2010 512097 Oregon Comm CHETANKUMAR KANTILAL SHAH S 5000 275.03
30/4/2010 531816 Panoramic Univ TARA MISHRA B 98703 285.65
30/4/2010 531816 Panoramic Univ ANURADHA MEETAL B 89903 299.07
30/4/2010 531816 Panoramic Univ MAHESH MEETAL B 114272 295.88
30/4/2010 531816 Panoramic Univ SAAKSHI SHARES PVT LTD B 148575 293.48
30/4/2010 531816 Panoramic Univ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 101137 287.88
30/4/2010 531816 Panoramic Univ RAJ FINVEST B 412843 290.75
30/4/2010 531816 Panoramic Univ NIRAJHARSUKHLALSANGHAVI B 124410 294.68
30/4/2010 531816 Panoramic Univ RKSV SECURITIES INDIA PRIVATE LIMITED B 72267 293.85
30/4/2010 531816 Panoramic Univ TARA MISHRA S 98703 283.85
30/4/2010 531816 Panoramic Univ ANURADHA MEETAL S 89903 290.17
30/4/2010 531816 Panoramic Univ MAHESH MEETAL S 114272 293.08
30/4/2010 531816 Panoramic Univ SAAKSHI SHARES PVT LTD S 150097 288.29
30/4/2010 531816 Panoramic Univ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 99464 288.83
30/4/2010 531816 Panoramic Univ RAJ FINVEST S 412843 287.34
30/4/2010 531816 Panoramic Univ NIRAJHARSUKHLALSANGHAVI S 124410 294.74
30/4/2010 531816 Panoramic Univ RKSV SECURITIES INDIA PRIVATE LIMITED S 72267 293.87
30/4/2010 532606 Parekh Alum SMART EQUITY BROKERS PRIVATE LIMITED B 114743 254.75
30/4/2010 532606 Parekh Alum CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 85233 254.12
30/4/2010 532606 Parekh Alum OPG SECURITIES P LTD B 144057 255.32
30/4/2010 532606 Parekh Alum ASHOKA FINSTOCK LTD B 121254 254.12
30/4/2010 532606 Parekh Alum SMART EQUITY BROKERS PRIVATE LIMITED S 114743 254.59
30/4/2010 532606 Parekh Alum CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 85233 254.01
30/4/2010 532606 Parekh Alum OPG SECURITIES P LTD S 144057 255.06
30/4/2010 532606 Parekh Alum ASHOKA FINSTOCK LTD S 121254 254.21
30/4/2010 524136 Pee Cee Cosma VARSHA SHAH B 7000 74.85
30/4/2010 524136 Pee Cee Cosma HEMANT KUMAR MOTIHAR S 8000 74.16
30/4/2010 531467 Polypro Fibrils STATUS EQUITY AND FINANCE PVT B 50000 42.30
30/4/2010 531467 Polypro Fibrils GEETA AJAY SHAH S 29000 40.93
30/4/2010 517522 Rajratan Global SURBHI INVESTMENTS & TRADING COMPANY PRIVATE B 25000 237.45
30/4/2010 531033 Regal Entert PUNIT HARISH THAKKAR B 20000 9.14
30/4/2010 511144 Saya Housing PASCHIM INDUSTRY LTD S 29590 2.66
30/4/2010 505141 Scooters India IMAGE FINVEST & LEASING PRIVATE LIMITED B 10000 25.80
30/4/2010 505141 Scooters India GOKUL PRIVATE LIMITED S 10000 25.80
30/4/2010 532900 SE Investments AKASH SECURITIES PRIVATE LTD B 263594 135.21
30/4/2010 511413 Sharyans Res BRIJWASI SECURITIES PVT LTD B 75000 101.65
30/4/2010 511413 Sharyans Res CAPRILLOY POLYMERS PRIVATE LIMITED S 75000 101.65
30/4/2010 530433 Shiva Fert RAHUL SHAH B 50000 96.40
30/4/2010 530433 Shiva Fert SHWETA KISHORE BHATIA B 102500 96.40
30/4/2010 530433 Shiva Fert JIGAR KANTILAL GALA B 50000 96.40
30/4/2010 530433 Shiva Fert BLUE PEACOCK SECURITIES PVT LT B 100000 96.40
30/4/2010 530433 Shiva Fert H J FINANCE B 50000 96.40
30/4/2010 530433 Shiva Fert Naman Securities & Finance Pvt. Ltd. B 95011 96.17
30/4/2010 530433 Shiva Fert SANJAY BALKRISHNA BANE B 50000 96.40
30/4/2010 530433 Shiva Fert BP FINTRADE PRIVATE LIMITED B 117634 96.40
30/4/2010 530433 Shiva Fert S K INVESTMENTS B 100000 96.40
30/4/2010 530433 Shiva Fert MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED S 101538 96.40
30/4/2010 530433 Shiva Fert BLUE PEACOCK SECURITIES PVT LT S 76000 96.40
30/4/2010 530433 Shiva Fert HITESH SHASHIKANT JHAVERI S 78000 96.40
30/4/2010 530433 Shiva Fert Naman Securities & Finance Pvt. Ltd. S 92009 96.37
30/4/2010 530433 Shiva Fert NIRAJ RAJNIKANT SHAH S 57444 96.40
30/4/2010 530433 Shiva Fert A.A.DOSHI SHARE & STOCK BROKERS LTD S 43002 96.40
30/4/2010 530433 Shiva Fert BP FINTRADE PRIVATE LIMITED S 217626 96.31
30/4/2010 524336 Shree Hari DHEERAJ KUMAR LOHIA B 45222 17.20
30/4/2010 531693 Shri Ganesh Spi CHANDRAKANT B SHAH S 292326 9.50
30/4/2010 531645 Southern Ispat ARCADIA SHARE & STOCK BROKERS PVT. LTD B 117870 21.17
30/4/2010 531645 Southern Ispat RISEWELL CREDIT PVT LTD B 125000 22.03
30/4/2010 531645 Southern Ispat ARCADIA SHARE & STOCK BROKERS PVT. LTD S 117870 20.97
30/4/2010 512413 Spectacle Inds BHAVESH PRAKASH PABARI S 258000 118.50
30/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED B 89749 34.42
30/4/2010 531373 Suave Hotels J V STOCK BROKING PRIVATE LIMITED S 97860 35.06
30/4/2010 531373 Suave Hotels SANGITA RAMRATAN CHIRANIA S 75000 33.24
30/4/2010 531373 Suave Hotels ACHALA ELECTRICALS PRIVATE LIMITED S 125000 35.68
30/4/2010 531373 Suave Hotels SHIV RATAN MURARKA S 58500 34.29
30/4/2010 526133 Supertex Inds SHYAM SUNDAR MISHRA B 1218715 4.12
30/4/2010 526133 Supertex Inds PARAMESHWAR EXPORTS PRIVATE LIMITED B 1193396 4.16
30/4/2010 526133 Supertex Inds HUSSAIN MOHAMMED SHAIKH B 1010000 4.15
30/4/2010 526133 Supertex Inds SHWETA KIRAN POWAR S 1100000 4.15
30/4/2010 526133 Supertex Inds PARESH RAMJIBHAI CHAUHAN S 985000 4.10
30/4/2010 526133 Supertex Inds NAROTTAM LALBASUDEVMISHRA S 830000 4.16
30/4/2010 523455 Techtran Poly SHREY SECURITIES PVT LTD B 55016 30.40
30/4/2010 523455 Techtran Poly BP FINTRADE PRIVATE LIMITED B 66047 30.43
30/4/2010 532721 Visa Steel VISA INFRASTRUCTURE LIMITED B 11712167 43.75
30/4/2010 532721 Visa Steel VISA MINMETAL AG S 11712167 43.75
* B - Buy, S - Sell
NSE Bulk Deals to Watch - Apr 30 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-APR-2010,ARCHIES,Archies Limited,BLUE PEACOCK SECURITIES PVT LT,BUY,68042,116.07,-
30-APR-2010,ARCHIES,Archies Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,50066,115.46,-
30-APR-2010,ARCHIES,Archies Limited,DINESH MUNJAL(HUF),BUY,35907,116.47,-
30-APR-2010,ARCHIES,Archies Limited,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,71813,114.24,-
30-APR-2010,ARCHIES,Archies Limited,MBL & COMPANY LTD.,BUY,49904,114.21,-
30-APR-2010,ARCHIES,Archies Limited,MODEX INTERNATIONAL SECURITIES LTD.,BUY,62948,113.73,-
30-APR-2010,ARCHIES,Archies Limited,OM INVESTMENTS,BUY,47541,116.03,-
30-APR-2010,ARCHIES,Archies Limited,TRANSGLOBAL SECURITIES LTD.,BUY,50283,114.76,-
30-APR-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,KANCHAN CHHABRA,BUY,23446,227.90,-
30-APR-2010,BOMDYEING,Bombay Dyeing & Mfg Co.,ANKURKUMAR SURESHKUMAR MEHTA,BUY,211259,592.27,-
30-APR-2010,EVINIX,Evinix Accessories Limite,SHEETAL MANUBHAI SHETH,BUY,831287,4.30,-
30-APR-2010,FCSSOFT,FCS Software Solutions Li,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,3528570,4.17,-
30-APR-2010,FCSSOFT,FCS Software Solutions Li,MANISH RATILAL SHAH,BUY,10858398,4.00,-
30-APR-2010,GLORY,Glory Polyfilms Limited,GYAN CHAND MEHTA,BUY,175592,25.06,-
30-APR-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,BUY,579965,25.60,-
30-APR-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,BUY,121155,25.91,-
30-APR-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,BUY,208609,25.48,-
30-APR-2010,ISFT,Intrasoft Tech. Ltd,SHEETAL MANUBHAI SHETH,BUY,85189,124.53,-
30-APR-2010,MCLEODRUSS,Mcleod Russel India Limit,NOMURA INDIA INVESTMENT FUND MOTHER FUND,BUY,1000000,220.00,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,100783,288.51,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,MARWADI SHARES AND FINANCE LIMITED,BUY,65014,283.50,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,MOTILAL OSWAL FINANCIAL SERVICES LTD,BUY,72448,285.62,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,RAJ FINVEST,BUY,154664,273.92,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,SAAKSHI SHARES PVT.LTD.,BUY,67591,277.27,-
30-APR-2010,PARAL,Parekh Aluminex Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,85233,253.72,-
30-APR-2010,SEINVEST,S.E. Investments Limited,AKASH SECURITIES PRIVATE LTD,BUY,342591,136.18,-
30-APR-2010,SEINVEST,S.E. Investments Limited,EPOCH SYNTHETICS PVT LTD,BUY,300000,135.07,-
30-APR-2010,ARCHIES,Archies Limited,BLUE PEACOCK SECURITIES PVT LT,SELL,43129,114.69,-
30-APR-2010,ARCHIES,Archies Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,50066,115.37,-
30-APR-2010,ARCHIES,Archies Limited,DINESH MUNJAL(HUF),SELL,35907,116.85,-
30-APR-2010,ARCHIES,Archies Limited,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,56671,114.76,-
30-APR-2010,ARCHIES,Archies Limited,MBL & COMPANY LTD.,SELL,49904,114.26,-
30-APR-2010,ARCHIES,Archies Limited,MODEX INTERNATIONAL SECURITIES LTD.,SELL,62948,113.41,-
30-APR-2010,ARCHIES,Archies Limited,OM INVESTMENTS,SELL,47541,116.18,-
30-APR-2010,ARCHIES,Archies Limited,TRANSGLOBAL SECURITIES LTD.,SELL,50283,114.81,-
30-APR-2010,ATLASCYCLE,Atlas Cycles (Haryana) Lt,KANCHAN CHHABRA,SELL,23446,225.83,-
30-APR-2010,BOMDYEING,Bombay Dyeing & Mfg Co.,ANKURKUMAR SURESHKUMAR MEHTA,SELL,211259,591.14,-
30-APR-2010,EVINIX,Evinix Accessories Limite,MARK CORPORATE ADVISORS PRIVATE LIMITED ,SELL,600000,4.54,-
30-APR-2010,EVINIX,Evinix Accessories Limite,SHEETAL MANUBHAI SHETH,SELL,831287,3.89,-
30-APR-2010,FCSSOFT,FCS Software Solutions Li,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,3537570,4.19,-
30-APR-2010,FCSSOFT,FCS Software Solutions Li,MANISH RATILAL SHAH,SELL,10858398,4.11,-
30-APR-2010,GLORY,Glory Polyfilms Limited,GYAN CHAND MEHTA,SELL,175592,25.64,-
30-APR-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,SELL,579965,25.29,-
30-APR-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,SELL,191155,25.35,-
30-APR-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,SELL,208535,25.51,-
30-APR-2010,ISFT,Intrasoft Tech. Ltd,ATHENA COMMERCIAL PVT LTD,SELL,130000,124.30,-
30-APR-2010,MCLEODRUSS,Mcleod Russel India Limit,QUANTUM (M) LTD,SELL,1625071,220.11,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,100783,288.44,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,MARWADI SHARES AND FINANCE LIMITED,SELL,65014,284.13,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,MOTILAL OSWAL FINANCIAL SERVICES LTD,SELL,71326,286.76,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,RAJ FINVEST,SELL,139664,271.91,-
30-APR-2010,PANORAMUNI,Panoramic Universal Limit,SAAKSHI SHARES PVT.LTD.,SELL,73594,272.63,-
30-APR-2010,PARAL,Parekh Aluminex Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,85233,254.19,-
30-APR-2010,SEINVEST,S.E. Investments Limited,EPOCH SYNTHETICS PVT LTD,SELL,6491,135.17,-
PSU OMCs sizzle
Profit booking in late trade capped gains on the domestic bourses as European stocks fell in volatile trade on unease over euro zone sovereign debt levels. The BSE 30-share Sensex was up 55.24 points or 0.32%, off 87.90 points from the day's high. Most Asian stocks rose. The Lok Sabha on Thursday passed the Finance Bill 2010 with some minor changes in tax proposals. The government has pledged to cut the fiscal deficit, promised increase spending on infrastructure and announced changes in personal income tax slabs for individuals in the Union Budget 2010-2011.
NSE's volatility index India VIX lost 3.96% to 20.35, extending Thursday's fall. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days. The index is calculated based on the S&P CNX Nifty options prices.
The market breadth was strong. Except the BSE Metal index, all other sectoral indices on the BSE were in green. Metal stocks declined, mirroring fall in the commodity prices on the London Metal Exchange on Thursday, 29 April 2010. IT pivotals saw divergent trend. PSU OMCs jumped on reports the firms will get compensation for losses on account of subsidised sale of some petroleum products.
Most auto stocks advanced ahead of the release of April 2010 monthly sales data next week. Tata Motors struck 52-week high on BSE. Among heavyweights, ICICI Bank pared early gains and Reliance Industries edged lower, erasing early gains.
The market surged in early trade on positive global cues. It extended gains in morning trade. The market pared gains in mid-morning trade on profit booking in select pivotals. The market regained strength in early afternoon trade. The market once again pared gains in afternoon trade. The market held positive zone in mid-afternoon trade, tracking gains in European stocks. The market was further off the day's high in late trade as European stocks declined in volatile trade.
In the futures & options segment, a good amount of rollover of positions was witnessed from April 2010 series to May 2010 series as the April 2010 derivatives contracts expired on Thursday. The revision in market lot size in the derivatives segment became effective from today, 30 April 2010. It may be recalled that the National Stock Exchange (NSE) had on 31 March 2010 announced changes in market lot size of a number of stocks in the derivatives segment as a part of a bi-annual review. The market lot size of 111 stocks was revised downwards and for 59 stocks it was revised upwards. The market lot size of 7 stocks was kept unchanged.
The Lok Sabha on Thursday, 29 April 2010, passed the Finance Minister Pranab Mukherjee's Budget for 2010-11 by a voice vote with minor changes. The concessions will reduce the incidence of service tax on housing and air travel, incentivise construction of big hospitals, keep cancer and anti-AIDs drugs cheap and provide relief to debt-ridden coffee growers. However, the government held firm not to roll back hike in prices of petrol and diesel. With the passage of the Bill by the Lok Sabha, the three-stage budgetary process stands completed. Changes in personal income tax slabs for individuals will result in increase in disposable incomes which in turn may boost consumption.
European shares drifted lower in volatile trade on unease over euro zone sovereign debt levels. The key benchmark indices in France and UK fell 0.56% and 0.59% respectively. However Germany's DAX rose 0.20%.
Asian markets rose for the first time in four days as improving company earnings boosted speculation the global economy will sustain its recovery. Hopes of a quick Greek rescue package also aided gains. The key benchmark indices in China, Hong Kong, Japan, South Korea, Singapore and Indonesia were up by between 0.08% to 1.59%. But, Taiwan's Taiwan Weighted index fell 0.62%.
Greece is facing financial crisis and the likelihood of default on sovereign loans of over $50 billion has prompted the Standard and Poor's to downgrade country's credit rating to junk grade.
Japan's central bank on Friday voted unanimously to keep its key policy interest rate at near zero as widely expected. The Bank of Japan also kept its special monetary stimulus programs unchanged.
US stocks surged on Thursday, 29 April 2010, on waning fears over the euro zone debt crisis. The Dow Jones Industrial Average rose 122.05 points or 1.10% to 11,167.32. The Nasdaq composite gained 40.19 points or 1.63% to 2,511.92 and the Standard & Poor's 500 index was up 15.42 points or 1.29% to 1,206.78.
Trading in US index futures indicated that the Dow could fall 3 points at the opening bell on Friday, 30 April 2010.
Back home, the Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 660 companies rose 25.80% to Rs 33470 crore on 32.50% rise in sales to Rs 302678 crore in the quarter ended March 2010 over the quarter ended March 2009.
The government on Thursday, 29 April 2010, kicked off its disinvestment programme for the fiscal year March 2011 with the initial public offering (IPO) of the state-run SJVN. The government plans to raise Rs 1000 crore through the IPO, and is offloading 10% of its stake in the company. The IPO was subscribed 56% by 16:00 IST on day two of the issue today.
The Congress-led United Progressive Alliance government sailed through a trial of strength in parliament on Tuesday, 27 April 2010, by defeating the cut motion demanded by opposition parties against an unpopular hike in fuel and fertiliser prices with smaller parties giving it a leg up to achieve a surprisingly strong victory for the government. However, major reforms may take a backseat for the some time to come as there is a stiff resistance by the opposition on fears it may hurt the poor.
On the macro front, 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 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 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.
The RBI at its annual policy review, last week, 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.
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.
The BSE 30-share Sensex was up 55.24 points or 0.32% to 17,558.71. The index rose 143.14 points at the day's high of 17,646.61 in morning trade. The Sensex was unchanged at the day's low of 17,503.47 in early trade.
The S&P CNX Nifty was up 23.85 points or 0.45% to 5278
The market breadth, indicating the overall health of the market, was positive. On BSE, 1687 shares advanced as compared with 1253 that declined. A total of 98 shares remained unchanged. The breadth was much stronger for a better part of the trading session.
The BSE Mid-Cap index rose 1% and the BSE Small-Cap index rose 0.39%. Both these indices outperformed the Sensex.
All the sectoral indices on BSE, except the BSE Metal index, logged gains. The BSE Realty index (up 1.77%), the BSE Consumer Durables index (up 1.02%), the BSE Bankex (up 0.55%), the BSE Oil & Gas index (up 0.85%), the BSE Auto index (up 1.51%), the BSE Healthcare index (up 1.12%), the BSE IT index (up 0.85%), the BSE Teck Index (up 0.71%), the BSE Capital Goods index (up 0.54%), the BSE PSU index (up 0.73%), and the BSE Power index (up 0.53%), outperformed the Sensex.
The BSE FMCG index (up 0.19%), and the BSE Metal index (down 0.41%), underperformed the Sensex.
The turnover on BSE amounted to Rs 4736 crore, higher than Rs 4,275.92 crore on Thursday, 29 April 2010.
From the 30 share Sensex pack, 17 stocks rose while the rest fell.
Most auto stocks advanced ahead of the release of April 2010 monthly sales data next week. India's largest commercial vehicle maker by sales Tata Motors surged 3.92% to Rs 875.90 after its ADR jumped 2.46% on Thursday. The stock hit a 52-week high of Rs 877.90 today. The stock was the top gainer from the Sensex pack. Tata Motors on Friday launched a new range of its compact car Indica Vista. The Indica Vista was originally launched in August 2008.
India's largest tractor maker by sales Mahindra & Mahindra (M&M) rose 1.03%. However, India's largest car maker by sales Maruti Suzuki India fell 0.57%.
India's largest motorbike maker by sales Hero Honda Motors rose 3.45%. India's second largest motorbike maker by sales Bajaj Auto rose 1.66%. India's third biggest two-wheeler maker by sales TVS Motor Company advanced 2.32%.
Ashok Leyland jumped 8.89% after net profit surged 317.7% to Rs 222.66 crore on 141.3% rise in sales to Rs 2939.04 crore in Q4 March 2010 over Q4 March 2009. The result was announced at the fag end of the trading session on Thursday, 29 April 2010.
Index heavyweight Reliance Industries (RIL) was down 0.41% to Rs 1030.50. The stock came off the day's high of Rs 1045. RIL reportedly plans to sell gas to retail consumers in the US and will use its newly built partnership with Atlas Energy to build a brand name in the US market.
RIL said on Wednesday it had discovered oil in one of its exploration blocks in the Cambay basin on India's western coast, the block in which it holds 100% controlling interest. This is its fourth oil discovery in the region.
Shares of PSU OMCs surged on reports the government has formed an inter-ministerial panel headed by Finance Minister Pranab Mukherjee to find ways to compensate the oil marketing companies for Rs 19000 crore worth of losses on account of subsidised sale of kerosene and domestic LPG in the year ended March 2010. HPCL (up 6.47%), BPCL (up 5.73%), and Indian Oil Corporation (up 7.64%), surged.
Realty shares gained after Finance Minister Pranab Mukherjee on Thursday, 29 April 2010 announced concessions to reduce the incidence of service tax on housing. DLF (up 0.92%), HDIL (up 1.50%), Unitech (up 2.84%), Omaxe (up 0.37%), and Indiabulls Real Estate (up 7.80%), rose.
Puravankara Projects soared 4.82% after consolidated net profit jumped 199.93% to Rs 43.73 crore on 80.82% surge in net sales to Rs 122.81 crore in Q4 March 2010 over Q4 March 2009. The company declared its results after market hours on Thursday, 29 April 2010.
Interest rate sensitive banking shares edged higher for the second day in a row on expectations of strong lending growth in a rebounding economy. India's second largest private sector bank by net profit HDFC Bank gained 0.56% after its ADR surged 3.88% on Thursday.
India's largest private sector bank by net profit ICICI Bank was almost flat at Rs 945.50. The stock came off the day's high of Rs 964.10
India's biggest commercial bank in terms of branch network State Bank of India rose 0.82%, extending recent strong gains triggered by brokerage upgrades on the counter. A prominent foreign brokerage 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.
ING Vysya Bank gained 4.93% after net profit rose 38.2% to Rs 67.91 crore despite 1.4% fall in total income to Rs 746.54 crore in Q4 March 2010 over Q4 March 2009. The bank declared its results after market hours on Thursday, 29 April 2010.
Indiabulls Financial Services climbed 10.35%. Consolidated net profit jumped 203% to Rs 301.30 crore on 18.5% fall in total income to Rs 1635.04 crore in the year ended March 2010 over the year ended March 2009. The company declared its results on 26 April 2010.
Shriram Transport Finance Company spurted 7.45%. The company's net profit surged 71.9% to Rs 264.42 crore on 24.6% rise in total income to Rs 1229.24 crore in Q4 March 2010 over Q4 March 2009. The company declared its results on 29 April 2010.
Infrastructure stocks extended gains fore the second day on reports the government may allow infrastructure firms to refinance part of their domestic debt through cheaper overseas borrowings.
Larsen & Toubro (up 0.18%), GMR Infrastructure (up 1.21%), Punj Lloyd (up 0.46%), Lanco Infratech (up 1.58%), GVK Power & Infrastructure (up 0.33%), edged higher.
India's largest private sector utility firm by sales Reliance Infrastructure rose 1.05%, extending Thursday's gain. As per reports its unit Reliance Cementation is planning to set up a Rs 1500 crore cement plant in Karnataka.
ABB fell 1.13% after net profit slumped 91.50% to Rs 6.63 crore on 4.9% rise in total income to Rs 1477.10 crore in Q1 March 2010 over Q1 March 2009. The result was announced during trading hours today, 30 April 2010.
Kirloskar Brothers rose 2.98% after company bought a 90% stake in South Africa-based Braybar for Rs 11 crore. The announcement was made after market hours on Thursday, 29 April 2010.
IT pivotals saw divergent trend. India's third largest software services exporter Wipro lost 2.10% to Rs 673.80. But, India's largest software services exporter TCS gained 0.59% and India's second largest software services exporter Infosys rose 0.88%.
HCL Technologies rose 1.75% after the company signed an agreement with Melbourne IT to support the latter's integrated web services business transformation project. The announcement was made during trading hours today, 30 April 2010.
Metal stocks declined after LMEX, a gauge of six metals traded on the London Metal Exchange, slipped 0.51% on Thursday, 29 April 2010. Hindalco Industries (down 1.06%), Steel Authority of India (down 1.29%), Tata Steel (down 2.05%), and JSW Steel (down 0.32%), fell.
UltraTech Cement fell 4.18%, extending a 5% slump on Thursday after the company said at the time of announcing Q4 March 2010 results during trading hours on Thursday that a significant capacity addition in the year ended March 2010 and the likely addition of a large capacity in the current financial year will put pressure on cement prices. The company's net profit declined 26.1% to Rs 228.54 crore in Q4 March 2010 over Q4 March 2009.
Reliance Natural Resources clocked the highest volume of 1.49 crore shares on BSE. IFCI (79.23 lakh shares), Ashok Leyland (60.11 lakh shares), Ispat Industries (41.55 lakh shares) and Unitech (39.98 lakh shares) were the other volume toppers in that order.
Tata Steel clocked the highest turnover of Rs 132.52 crore on BSE. State Bank of India (Rs 118.53 crore), Tata Motors (Rs 115.96 crore), Reliance Natural Resources (Rs 104.16 crore) and Panoramic Universal (Rs 93.10 crore) were the other turnover toppers in that order.
United Phosphorus jumped 15.25%. The company's consolidated net profit rose 9.7% to Rs 529.64 crore on 10.2% rise in net sales to Rs 5,290.04 crore in the year ended March 2010 over the year ended March 2009. The company declared its results on 29 April 2010.
Market seen heading north on positive global cues
The market is expected to open on a firm note on positive global cues. Besides, the passing of the Finance Bill 2010 in the Lok Sabha on Thursday with some minor changes in tax proposals may boost sentiment as the government has pledged to cut the fiscal deficit. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicate that the Nifty could rise 26.50 points at the opening bell. Auto, cement, steel stocks will be in focus ahead of the release of April 2010 monthly sales data next week.
Finance Minister Pranab Mukherjee's budget 2010-11 proposals were passed on Thursday, 29 April 2010 with minor changes. The concessions will reduce the incidence of service tax on housing and air travel, incentivise construction of big hospitals, keep cancer and anti-AIDs drugs cheap and provide relief to debt-ridden coffee growers. However, the government held firm not to roll back the hike in prices of petrol and diesel. With the passage of the Bill by the Lok Sabha, the three-stage budgetary process stands completed.
Adani Power, Allahabad Bank, Amtek Auto, Bharat Electronics, Finolex Cables, Gateway Distriparks, HCL Infosystems, IDBI bank, IFCI, India Cements, Reliance Capital, Tech Mahindra, Titan Industries and Vijaya Bank will announce their January-March 2010 quarter earnings today, 30 April 2010.
Asian markets rose for the first time in four days as improving company earnings boosted speculation the global economy will sustain its recovery. Key benchmark indices in China, Hong Kong, Taiwan, Japan, South Korea, Singapore and Indonesia were up by between 0.40% to 1.09%.
US markets surged on Thursday, 29 April 2010, on waning fears over the euro zone debt crisis. The Dow Jones Industrial Average rose 122.05 points or 1.10% to 11,167.32. The Nasdaq composite gained 40.19 points or 1.63% to 2,511.92 and the Standard & Poor's 500 index was up 15.42 points or 1.29% to 1,206.78.
Back home, food price index rose 16.61% in the year to 17 April 2010, data released by the government on Thursday, 29 April 2010 showed. The rise in food prices inflation was slower than an annual rise of 17.65% in the previous week. But, fuel price inflation quickened. The fuel price index rose 12.69% in the year to 17 April 2010 a year ago, faster than the previous week's 12.45% rise. The primary articles index was up 13.55% in the year to 17 April 2010.
The Q4 March 2010 corporate earnings announced so far have been good. The combined net profit of a total of 586 companies rose 29.50% to Rs 31831 crore on 35% rise in sales to Rs 280051 crore in the quarter ended March 2010 over the quarter ended March 2009.
The government on Thursday, 29 April 2010, kicked off its disinvestment programme for the fiscal year March 2011 with the initial public offering (IPO) of the state-run SJVN. The government plans to raise Rs 1000 crore through the IPO, and is offloading 10% of its stake in the company. The IPO was subscribed 43% on day one.
The Congress-led United Progressive Alliance government sailed through a trial of strength in parliament on Tuesday, 27 April 2010, by winning the cut motion demanded by opposition parties against an unpopular hike in fuel and fertiliser prices with smaller parties giving it a leg up to achieve a surprisingly strong victory. However, major reforms may take a backseat for the some time to come as there is a stiff resistance by the opposition on fears it may hurt the poor.
On the macro front, 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 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 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.
The RBI at its annual policy review, last week, 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.
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.
The key benchmark indices rebounded after a two-day slide on Thursday, 29 April 2010, tracking gains in European stocks and higher US index futures. The BSE 30-share Sensex rose 123.39 points or 0.71% to 17,503.47 and the S&P CNX Nifty gained 38.70 points or 0.74% to 5254.15.
As per provisional figures on NSE, foreign funds bought shares worth Rs 90.44 crore and domestic funds bought shares worth Rs 266.76 crore on Thursday, 29 April 2010.
Positive start likely on strong global cues
Headlines for the day:
Sebi to get strict with FII sub-accounts
Japan Tobacco raises investment in Indian unit
Pantaloon, arm plan Rs750 crore NCD
Events for the day:
Major corporate action
Tara Health Foods IPO closes today
Results: India Cements, GVK Power, IDBI bank
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European shares bounced back on Thursday after sharp declines in the past two days, with strong earnings, encouraging macro data and hopes that Greece is closer to a bailout deal prompting investors to return to equities.
The US stocks chalked up their best day in nearly two months on Thursday as investors welcomed a string of robust earnings reports, while Greece appeared close to a bailout deal, easing fears about a wider sovereign debt crisis.
In today's trade, the Asian markets were trading in green. At the time of writing this report, SGX Nifty was trading 24 points higher.
Indian markets
The robust Q4 numbers here and overseas, Greece close to seek the aid, the US Federal Reserve keeping the interest rates unchanged and the good inflation numbers will help the Indian indices to rise in the last trading session for the month of April. Owing to the strong global cues, the Indian indices are set to open higher. While the earnings of major companies like India Cements, IDBI Bank, IFCI, etc will be watched as their results are scheduled to be announced later today. In the last four trading sessions of this week, the Sensex declined by 191 points. Due to sustain volatility, the Sensex despite of a positive start today may end the week in the red.
Commodity cues
In the commodity space, the crude oil prices closed higher, with the Nymex light crude oil for the May series rose by $1.95 per barrel, whereas in the metals space, the Comex Gold for the May series declined by $2.90 and the Comex Silver for the May series was up by $0.44 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On April 29, 2010, the FIIs were the net sellers of the Indian stocks to the tune of Rs31.20 crore, whereas the domestic mutual funds, on April 28, 2010, were the net buyers of the stocks to the tune of Rs397.50 crore.
Grey Market Premiums - Apr 30 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Talwalkars Better Value Fitness Ltd. | 123 to 128 | 21 to 22 |
| Nitesh Estate | 54 to 56 | Discount |
| Tarapur Transformers | 65 to 75 | 3.25 to 3.50 |
| Mandhana Industries Ltd. | 120 to 130 | 5 to 6 |
| Tara Health Foods | 180 to 190 | 2.50 to 3 |
| Sutlaj Jal Vidhut Nigam (SJVNL) | 23 to 26 | 0.50 / 0.60 (Paisa) |
| Jaypee Infra | 102 to 117 | 4 to 5 |
Copper tarnishes
Higher Chilean production pushes prices down
Red metal prices ended lower at Comex on Thursday, 29 April 2010. News about Chile increasing copper production hammered prices today. Prices dropped at LME too.
At USA, copper futures for July delivery ended marginally lower by 4 cents (1.1%) at $3.3505 a pound on Thursday. 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 1.7%.
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 Thursday, at LME, copper for delivery in three months ended lower by $45 (0.6%) at $7,355. 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.
As per latest reports, Chile produced 451,127 tons of copper in March, 5% higher than in March 2009, showing that the February earthquake had only minimal effects on the mining sector and the sharp rally of copper prices was not justified fundamentally.
In the currency market on Thursday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%. The euro rebounded against the dollar today. Concerns over spreading contagion to other European countries lessened somewhat on reports that officials were considering a multi-year rescue package for Greece that could total more than 100 billion euros ($133 billion), compared to prior plans for a one-year aid package of roughly 45 billion euros.
The Labor Department in US reported on Thursday, 29 April 2010 that the number of people filing initial claims for unemployment benefits declined by 11,000 in the week ended 24 April to a seasonally adjusted 448,000. Claims are down about 28% from the prior year. The new claims level matched expectations.
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 4.3 (1.3%) at Rs 330.75/Kg. Prices rose to a high of Rs 335.6/Kg and fell to a low of Rs 328.3/Kg during the day's trading.
Among other metals traded in the LME on Thursday, lead ended 0.7% lower at $2,235 a ton and zinc ended 0.3% lower at $2,330 a ton. Nickel ended 1.2% higher at $25,700. Aluminum ended 1% higher at $2,221 a ton.
Crude shoots up
Strong economic data and weak dollar pull up crude
Crude oil ended higher at Nymex on Thursday, 29 April 2010. Chances of a sooner and larger than expected rescue package for Greece and strong economic data on the US front pushed up crude prices higher.
On Thursday, crude-oil futures for light sweet crude for June delivery closed at $85.17/barrel (higher by $1.95 or 2.3%). 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 6.2%.
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.
The Labor Department in US reported on Thursday, 29 April 2010 that the number of people filing initial claims for unemployment benefits declined by 11,000 in the week ended 24 April to a seasonally adjusted 448,000. Claims are down about 28% from the prior year. The new claims level matched expectations.
The four-week average of new claims, considered a better gauge of underlying trends than the volatile weekly number, rose 1,500 to stand at 462,500.
The report also revised that the number of people collecting regular state benefits dropped 18,000 to a seasonally adjusted 4.65 million in the week ended 17 April. The four-week average of continuing claims fell 9,000 to 4.64 million, the lowest level since January 2009.
In the currency market on Thursday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%. The euro rebounded against the dollar today. Concerns over spreading contagion to other European countries lessened somewhat on reports that officials were considering a multi-year rescue package for Greece that could total more than 100 billion euros ($133 billion), compared to prior plans for a one-year aid package of roughly 45 billion euros.
Yesterday, in the latest weekly inventory report, the Energy Department reported an increase of 1.96 million barrels in the U.S. oil inventories in the week ended 23 April. Market had expected a rise of 1.4 million barrels. Refineries ran at 89% of their capacity, higher than expected. Crude stocks in Cushing, Okla., the delivery point for New York Mercantile Exchange oil, increased by nearly half a million barrels.
The report also showed that gasoline stocks declined by 1.24 million barrels; against an expected build of 500,000 barrels. Stocks of distillates, which include heating oil and diesel, were up by 2.93 million barrels when the expectation was of an increase of 1.2 million barrels.
On Thursday, natural-gas futures dropped as the Energy Information Administration reported a larger-than-expected increase for natural gas in storage last week. The EIA reported an increase of 83 billion cubic feet in the week ended 23 April, whereas market expected 70 to 76 billion cubic feet. Later Thursday, the EIA said production of natural gas in February rose 1.6% from January's output, which it revised lower. Natural gas for June delivery, the most active contract, declined 37 cents, or 8.5%, to settle at $3.98 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 higher by Rs 86 (2.3%) at Rs 3,784/barrel. Natural gas for May delivery closed at Rs 178.7, lower by Rs 17.7 (8.1%).
Daily News Roundup - Apr 30 2010
RIL plans to sell gas to retail consumers in the US, using Atlas Energy’s infrastructure
UltraTech Cement has acquired Dubai-based ETA Star Cement for an enterprise value of Rs17bn. (ET)
Jindal Steel and Power is close to acquiring Oman based Shabed Iron and Steel for US$500mn. (ET)
Supreme Court verdict on RIL-RNRL gas issue is likely next week. (ET)
Air India has opposed the marketing alliance between Kingfisher Airlines and British Airways on domestic network. (ET)
NTPC-BHEL Power Projects, 50:50 JV between the two PSU’s, is expecting orders worth Rs70bn by the end of current fiscal (ET)
Infinite Computer Solutions has bagged an order worth Rs1.25bn. (BL)
Madhucon Projects has secured an EPC contract worth Rs12bn for setting up thermal power plant in Nellore district of Andhra Pradesh. (BL)
CESC has decided to revive West Bengal’s Balagarh thermal power project abandoned several years ago. (BL)
Pantaloon Retail and Future Value Retail plan to issue Rs7.5bn worth of NCD’s. (BS)
Mindtree has bagged the application development services segment of the UID Project. (BS)
Tata Power has been asked not to apply differential pricing for Reliance Infrastructure. (BS)
Nuclear Power Corporation of India is likely to sign JV Agreements with IOC and NALCO. (FE)
Finance Bill proposes to prohibit token concessions to housing, air travel, planters and healthcare. (ET)
Food inflation eases to 16.6% during the weekend April 17. (BL)
Government has directed mobile operators to stick to June 30 dead line for launch of mobile number portability. (ET)
According to the Telecom minister, 3G auction to end in a day or two. (BL)
The Government has hiked export duty on iron ore lumps to 15%. (BS)
Back to square one
To profit from good advice requires more wisdom than to give it. Wilson Mizner.
Yes, there is some profit to be made from the global rebound this morning, but one should not get carried away as the advance may run out of steam after a while. We expect a positive start following further improvement in risk tolerance worldwide. Early gains may not hold though and the market may once again turn choppy and rangebound. Near-term sentiment may remain at the mercy of global events even as earnings continue to trickle in, both here and overseas. Monsoon will be the next big event on the domestic calendar.
Meanwhile, the Government has been able to ward off the Opposition challenge in parliament and has passed the Finance Bill. It is also set to garner much more from the 3G-BWA auctions than what had been estimated earlier. So, the fiscal deficit for FY11 may look a tad better. The challenge is to maintain fiscal discipline by cutting wasteful spending rather than relying on extraordinary income.
April was a dull month for Indian equities, as the main indices were stuck in a range. A breakout from the current range may continue to elude us unless we have a major global rally. So, it would be wise to stay cautious though there is no need to panic. Be selective and careful in picking stocks, especially the small- and mid-cap ones.
Results Today: ABB, Adani Power, Allahabad Bank, Alok Inds, Bank of Maharashtra, Gateway Distriparks, GVK Power, HCL Info, HCC, IDBI Bank, IFCI, India Cements, IRB Infra, Moser Baer, NDTV, Reliance Capital, Sintex, Tata Elxsi, TTML, Tech Mahindra, Titan, Uco Bank and Vijaya Bank.
FIIs were net buyers of Rs904mn in the cash segment on Thursday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs2.67bn.
Indian markets staged a smart come back on Thursday after losing sharply in the last two trading sessions. “Federal Reserve’s decision of leaving key interest rates unchanged and IMFs promise to increase the 45bn-euro aid package for
Markets were volatile on account of F&O expiry with the BSE Sensex gyrating over 130 points and the NSE Nifty swinging almost 50 points from their respective intra-day high’s and low’s.
The Mid-Cap and Small-Cap Banks and the Auto stocks were in demand, even the Realty stocks which were badly beaten down in the past two days were back. Metals and the Oil & Gas stock also attracted buying interest.
The BSE Sensex advanced 123 points to end at 17,503 and NSE Nifty gained 39 points to close at 5,254. Among the 30 components of Sensex, 19 ended in the positive terrain and 11 ended in the red.
Markets in Asia ended in the red; the Nikkei in
On the other hand, European indices were trading with positive bias, the DAX in
Among the BSE sectoral indices, the BSE Realty index was top gainer; the index gained 2.2%, followed by BSE Consumer Durables index up 2% and Banking index up 1.8%. Even the Mid-Cap and the Small-cap index lost 1.1% and 1.3% respectively.
Outside the frontline indices, the big gainers in the broader market were Corp Bank, Jet Airways, Cummins India, Yes Bank and Andhra Bank. On the other hand, losers included Marico, IOB, Petronet LNG and Mphasis.
Jindal Steel & Power is reportedly planning to acquire Shaheed Iron & Steel of
Shares of LIC Housing Finance shot up by over 5% to end at Rs949 after media reports stated that the company may seek a banking license. The scrip opened at Rs907 it touched an intra-day high of Rs949 and a low of Rs907 and recorded volumes of over 2.1mn shares on NSE.
Shares of Carborundum Universal advanced by 2.5% to end at Rs192 after the company announced that it sold a land and building property in
Shares of Essel Propack gained by over 3% to end at Rs49.60 after the company reported quarterly profit of Rs87mn as compared with a loss of Rs51mn a year earlier. The scrip opened at Rs49 it touched an intra-day high of Rs51 and a low of Rs49 and recorded volumes of over 0.3mn shares on NSE.
Hanung Toys announced that the board of directors will meet on April 29, 2010 to consider further issue of capital in domestic or foreign markets including but not limited to make private placement of equity shares to Qualified Institutional buyers (or QIP) and / or Global Depository Receipts ("GDRs"), Foreign Currency Convertible Bonds ("FCCBs"), and / or any other financial instruments convertible into Equity Shares, or giving the holder a right to subscribe to Equity Shares including fully / partly convertible debentures, bonds, warrants, whether attached to other securities or otherwise, subject to necessary approvals / permissions as may be required.
Shares of Hanung Toys gained by 3% to end at Rs261. The scrip opened at Rs255 it touched an intra-day high of Rs267 and a low of Rs254 and recorded volumes of over 1.8mn shares on NSE.
Ucal Fuel Systems
Investors with a short-term trading perspective can consider buying the stock of Ucal Fuel Systems. The down-trend from the January peak of Rs 110 halted at Rs 64 after the stock retraced 50 per cent of the previous up-move. A steady short-term uptrend is however unfolding from the trough at Rs 64. The higher troughs formed from this level are encouraging. The stock also managed to close above the near-term resistance at Rs 80 this week.
The weekly rate of change oscillator has just moved above the zero line suggesting the commencement of a medium-term uptrend. Daily rate-of-change oscillator as well as the relative-strength-index is featuring in the bullish zone. The stock reversed higher from the short-term uptrend line on Thursday. It can now move higher to Rs 86 or Rs 90 in the days ahead. Investors can buy the stock with the stop-loss at Rs 79.
via BL
Precious metals continue to witness mixed end
Gold ends lower but silver rises
Precious metal prices ended mixed with gold ending lower on Thursday, 29 April 2010 at Comex. Chances of Greece getting a sweet package deal from IMF and rest of the world helped the euro rebound today. Gold dropped from its four month high levels. Gold came under pressure as investors grew more confident an improved rescue agreement for debt-strapped Greece will soon be reached. Silver prices rose.
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 Thursday, gold for June delivery ended at $1,168.8 an ounce, lower by $3 (0.3%) an ounce on the New York Mercantile Exchange. During intra day trading, gold fell to a low of $1,162.2. Yesterday, gold had highest closing since December. 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 6.4%.
On Thursday, May Comex silver futures ended higher by 44 cents (2.4%) at $18.55 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 8.5%.
In the currency market on Thursday, the dollar index, which measures the strength of the dollar against basket of six other currencies fell by 0.4%. The euro rebounded against the dollar today. Concerns over spreading contagion to other European countries lessened somewhat on reports that officials were considering a multi-year rescue package for Greece that could total more than 100 billion euros ($133 billion), compared to prior plans for a one-year aid package of roughly 45 billion euros.
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 129 (0.75%) at Rs 16,975 per ten grams. Prices rose to a high of Rs 17,077 per 10 grams and fell to a low of Rs 16,930 per 10 grams during the day's trading.
At the MCX, silver prices for May delivery closed Rs 365 (1.3%) higher at Rs 27,972/Kg. Prices opened at Rs 27,573/kg and rose to a high of Rs 28,040/Kg during the day's trading.
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