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Monday, May 10, 2010
EU emergency aid lifts markets in green
Today's major news
Modest debut for Talwalkars Better Value, the stock rises 27.03%
Pratibha Industries wins Rs100-crore project, the stock jumps 4.78%
Jubilant Organosys FY10 net profit up 39.25%, the stock closes 2.44% higher
Click here for more stories
Global signals
European stocks rebound from the last week’s sell-off on $1 trillion rescue package to stabilise the Euro agreed by global policymakers boosting investor sentiment. As of writing of this report, FTSE 100 was trading higher by 5.03%.
All the major Asian indices closed in the positive territory. SGX Nifty closed 163 points higher.
US stock futures signal strong opening on the Wall Street after falling sharply in the last week as global policymakers came up with an emergency rescue package, which aimed at preventing Greece' debt crisis from spreading through the euro zone countries.
Indian indices
What a stunning comeback for the Indian market! The market was waiting for a sigh of relief as sentiments had got disrupted due to contagion Greece’ debt worries. Last week the market was in a strong bear grip and bulls scampered for cover. But, today the bulls made an about-turn and broke its five-day losing streak as European Union and International Monetary Fund agreed to a massive rescue package to control Greece' debt crisis spreading to other Euro zone countries. This lifted the market sentiments and boosted investors’ confidence that led to a massive rally across the globe.
Taking leads from the strong Asian markets, the Sensex opened 30 points higher at 16799 and this was also its day’s low. The gains widened further and bulls continued their northward journey through out the session. The global policymakers coming up with an emergency rescue package aiming at preventing Greece' debt crisis, led the world equities to zoom and also the support from robust buying in heavyweights like Reliance Industries and ICICI Bank, realty and metal stocks helped the Sensex to reclaim its significant 17000 levels. In afternoon session, European markets opened with huge gains which lifted sentiments more and aided the Sensex to touch the day’s high of 17356 before shutting at 17330, 561 points higher. The Nifty also regained its 5100 levels and closed at 5194, up by 176 points.
Market sentiment
The market breadth was extremely positive as advancing stocks outdid trailing stocks over three times. Of the 2,966 stocks traded on the BSE, 2,266 stocks advanced, whereas only 615 stocks declined. Eighty five stocks remained unchanged.
Sectoral & stock screening
All the 13 sector indices closed higher, except BSE HC that fell marginally. BSE Realty led the gainers chart, spurted 6.17% and BSE Metal that surged 6.06%.
In ‘A’ group list: gainers were - Reliance Infrastructure topped the chart, surged by 8.49%, followed by JSW Steel up by 8.36% and IVRCL Infrastructure gained by 8.28%. Losers’ were - Cipla led the losers’ list with losses of 6.42%, followed by Reliance Natural Resources (RNRL) that fell by 4.93% and Bank of India that shed 3.74%.
Viewing volumes
Anil Dhirubhai Ambani group company and day’s biggest loser, Reliance Natural Resources saw highest trading on second straight session with over 3.35 crore shares changing hands on the BSE, followed by wind turbine major Suzlon Energy (0.59 crore shares), India’s second largest developer Unitech (0.55 crore shares), Jaiprakash Associates (0.54 crore shares) and IFCI (0.52 crore shares).
BSE Bulk Deals to Watch - May 10 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
10/5/2010 514274 Aarvee Denims VIRENDRA BHOGILAL HUF S 213600 59.40
10/5/2010 532975 Aishwarya Tele RAVINDER KOTA B 113251 24.86
10/5/2010 504629 Anil Special SAMTUL INVESTMENTS LTD S 75000 18.80
10/5/2010 511605 Arihant Cap ACME FURNITURE PRIVATE LIMITE B 50300 158.30
10/5/2010 511605 Arihant Cap KAMLESH NAHAR S 40947 158.51
10/5/2010 532995 Avon Corp VINOD AMRATLAL NAAI S 325920 6.60
10/5/2010 523054 Binayak Tex MOHIT RAMGOPAL AGRAWAL B 18708 566.50
10/5/2010 523054 Binayak Tex SAJNI S 9000 566.50
10/5/2010 523054 Binayak Tex MAHESH DUHLANI S 4000 566.50
10/5/2010 523054 Binayak Tex DEENDAYAL HARIPRASAD S 5000 566.50
10/5/2010 511607 Birla Shloka PUSHKAR BANIJYA LIMITED B 250000 74.98
10/5/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD S 125110 75.00
10/5/2010 511607 Birla Shloka SAAKSHI SHARES PVT LTD S 81635 75.00
10/5/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE B 186000 9.96
10/5/2010 533026 Chemcel Bio SANJAY KUMAR RAMCHANDRA AGRAWAL (HUF) B 130223 9.81
10/5/2010 533026 Chemcel Bio NIOL IMPEX PRIVATE LIMITED S 186000 9.92
10/5/2010 511451 Dharani Fin SANOTSH KUMAR KHEMKA B 25000 5.33
10/5/2010 511451 Dharani Fin CHAMPABEN ASHWINBHAI KAPADIA S 25000 5.33
10/5/2010 517973 DMC Intl KAPIL GUPTA B 169053 20.24
10/5/2010 517973 DMC Intl MAHENDER SINGH B 137953 20.21
10/5/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED B 163447 20.24
10/5/2010 517973 DMC Intl OURS TRADING AND HOLDINGS PRIVATE LIMITED S 166000 20.21
10/5/2010 517973 DMC Intl LALESHWAR KUMAR RAUT S 132081 20.20
10/5/2010 517973 DMC Intl KAPIL GUPTA S 131353 20.28
10/5/2010 532038 Emmsons Intl FAIRDEAL INFIN SERVICES PVT LTD B 50000 122.09
10/5/2010 532038 Emmsons Intl INDERPAUL SINGH SAINI S 37500 122.00
10/5/2010 526574 Enterprise Intl BRIJLATA SARDA B 15000 7.14
10/5/2010 526574 Enterprise Intl BASANT KUMAR MIMANI S 15000 7.14
10/5/2010 590094 FARMAX IND SANJEET KUMAR CHOURASIA B 147948 133.85
10/5/2010 531486 Filmcity Media JMP SECURITIES PVT LTD B 1449000 0.31
10/5/2010 531486 Filmcity Media OMPARKASH GUPTA B 2719835 0.31
10/5/2010 531486 Filmcity Media OMPARKASH GUPTA S 2719835 0.31
10/5/2010 531486 Filmcity Media TEJSINGH DHANSINGH RAMOLA S 2204085 0.32
10/5/2010 531486 Filmcity Media MANOHAR GAURAIAN KODAM S 1600000 0.32
10/5/2010 531486 Filmcity Media SUNIL KR BAGARIA HUF S 2100000 0.31
10/5/2010 531137 Gemstone Invest FAZAL MEHMOOD SHAIKH S 36000 110.66
10/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. B 146122 21.35
10/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. S 152122 21.23
10/5/2010 532857 Glory Polyfilms MAHAVIR KNIT FAB PRIVATE LIMITED S 123265 20.88
10/5/2010 532334 HB Est Developer SAINATH HERBAL CARE MARKETING P.LTD S 74473 72.60
10/5/2010 524019 Hydro S&S Inds BP FINTRADE PRIVATE LIMITED B 51024 65.42
10/5/2010 524019 Hydro S&S Inds RAJESH AGARWAL B 52000 65.55
10/5/2010 524019 Hydro S&S Inds ANIL AGARWAL B 35000 65.03
10/5/2010 524019 Hydro S&S Inds INVENTURE GROWTH & SECURITIES LTD. B 37779 64.56
10/5/2010 524019 Hydro S&S Inds INVENTURE GROWTH & SECURITIES LTD. S 37779 64.58
10/5/2010 524019 Hydro S&S Inds BP FINTRADE PRIVATE LIMITED S 51023 65.53
10/5/2010 524019 Hydro S&S Inds SAR AUTO PRODUCTS LIMITED S 138670 64.83
10/5/2010 533181 Intrasoft Tech SAMIRKUMAR DIPAKBHAI SHAH B 100000 126.00
10/5/2010 533181 Intrasoft Tech ATHENA COMMERCIAL PRIVATE LIMITED S 183102 125.94
10/5/2010 514312 Jaihind Syn PRASHAM D DOSHI B 27176 5.51
10/5/2010 514312 Jaihind Syn VIJAY HASMUKHRAY SUCHAK S 25000 5.51
10/5/2010 530255 KAY Power BAMPSL SECURITIES LTD S 79249 15.49
10/5/2010 531602 Koffee Break TEJSINGH DHANSINGH RAMOLA B 686099 2.10
10/5/2010 531602 Koffee Break NAGINLAL JHAMAR S 500000 2.10
10/5/2010 508306 Ledo Tea M. D. BHOOLA & CO B 5030 93.25
10/5/2010 508306 Ledo Tea M. D. BHOOLA & CO S 4378 93.57
10/5/2010 524000 Magma Fin SUNDEEP CREDITS PVT LTD B 95680 316.37
10/5/2010 531453 Mohit Inds VICHITER BANARSI LATA B 46000 18.89
10/5/2010 531453 Mohit Inds ANANDPRABHU DAYALKUMAR B 25000 19.10
10/5/2010 531453 Mohit Inds BALASHRI COMMERCIAL LIMITED S 71000 18.96
10/5/2010 526263 Moldtek Tech USHA KUMARI B 19230 69.99
10/5/2010 532986 Niraj Cement HARSHVARDHAN JAIN B 58872 46.65
10/5/2010 532986 Niraj Cement HARSHVARDHAN JAIN S 58874 46.49
10/5/2010 512097 Oregon Comm SHWETA DHIREN AGRAWAL B 16491 300.87
10/5/2010 512097 Oregon Comm SANJAY JETHALAL SONI B 13100 299.15
10/5/2010 512097 Oregon Comm KRUPA SANJAY SONI B 6224 298.98
10/5/2010 512097 Oregon Comm J M SONI CONSULTANCY B 4855 297.31
10/5/2010 512097 Oregon Comm AMUL G DESAI B 11664 300.10
10/5/2010 512097 Oregon Comm YOGESHKUMAR OMPRAKASH AGARWAL B 5000 300.90
10/5/2010 512097 Oregon Comm KRUPA SANJAY SONI S 10877 300.38
10/5/2010 512097 Oregon Comm J M SONI CONSULTANCY S 4855 300.18
10/5/2010 512097 Oregon Comm AMUL G DESAI S 7245 299.11
10/5/2010 512097 Oregon Comm SHWETA DHIREN AGRAWAL S 16138 300.74
10/5/2010 512097 Oregon Comm BHAVNABEN VIRENDRAKUMAR PATEL S 14600 297.91
10/5/2010 532606 Parekh Alum PACIFIC CORPORATE SERVICES LTD B 290000 312.96
10/5/2010 532606 Parekh Alum MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED B 94657 323.16
10/5/2010 532606 Parekh Alum MANSI SHARE & STOCK ADVISORS PRIVATE LIMITED S 91675 322.38
10/5/2010 532606 Parekh Alum SUDHIR KESHAVJI SAMPAT S 100000 306.00
10/5/2010 530923 Passari Cellu MANDEEP SINGH SONI S 53500 55.00
10/5/2010 513611 Pithampur Steel VIBHUTI DAS B 37500 43.75
10/5/2010 513611 Pithampur Steel DAFFODIL TRADEX PRIVATE LIMIT B 29000 43.75
10/5/2010 513611 Pithampur Steel SACHIN SHARMA S 87000 43.75
10/5/2010 532933 Porwal Auto REKHA BHANDARI B 370001 15.95
10/5/2010 532933 Porwal Auto ACME FURNITURE PRIVATE LIMITE S 500000 15.90
10/5/2010 503873 Priyadarshini Spn PRADEEPKUMAR AGGARWAL S 84647 35.50
10/5/2010 530047 Rai Saheb Rekh KHEMKA FERRO ALLOYS PVT LTD S 22700 158.73
10/5/2010 532918 Rathi Bars SHILPA MILIND DESAI B 89593 15.60
10/5/2010 517500 Roto Pumps JULIYET DEAVSSY MAPRANTHU B 17000 131.93
10/5/2010 517500 Roto Pumps ALFA FISCAL SERVICES PVT LTD B 36268 132.66
10/5/2010 517500 Roto Pumps ALFA FISCAL SERVICES PVT LTD S 36268 133.08
10/5/2010 530025 Samyak Intl OMPARKASH GUPTA B 45657 15.62
10/5/2010 530025 Samyak Intl OMPARKASH GUPTA S 27353 15.96
10/5/2010 511144 Saya Housing CONTACT CONSULTANCY PVT LTD S 25000 2.44
10/5/2010 532993 Sejal Arch TALISMAN SECUTIRIES PVT LTD B 192000 79.43
10/5/2010 532993 Sejal Arch SWATI ATUL REGE S 183423 79.50
10/5/2010 532993 Sejal Arch PUSHKAR BANIJYA LIMITED S 276000 77.21
10/5/2010 530611 Sturdy Inds TECHNO EQUITY BROKING PRIVATE LIMITED B 260000 5.62
10/5/2010 530611 Sturdy Inds ASHOK KUMAR LODHA S 250000 5.53
10/5/2010 526133 Supertex Inds MANISH RATILAL SHAH B 565789 4.62
10/5/2010 526133 Supertex Inds MANISH RATILAL SHAH S 565789 4.55
10/5/2010 533200 TALWALKAR SMART EQUITY BROKERS PRIVATE LIMITED B 1153100 155.76
10/5/2010 533200 TALWALKAR GENUINE STOCK BROKERS PVT. LTD. B 1078663 156.13
10/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 1398166 155.95
10/5/2010 533200 TALWALKAR UTTAM SHARE BROKERS PRIVATE LIMITED B 135139 156.30
10/5/2010 533200 TALWALKAR MARWADI SHARES AND FINANCE LTD. B 189249 157.49
10/5/2010 533200 TALWALKAR OPG SECURITIES P LTD B 2032701 156.33
10/5/2010 533200 TALWALKAR MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 238850 156.90
10/5/2010 533200 TALWALKAR HOTEL LIBRARY CLUB P LTD B 146825 157.13
10/5/2010 533200 TALWALKAR Naman Securities & Finance Pvt. Ltd. B 259301 156.87
10/5/2010 533200 TALWALKAR R M SHARES TRADING PRIVATE LIMITED B 207393 156.69
10/5/2010 533200 TALWALKAR RELIANCE MONTHLY INCOME PLAN B 531000 153.29
10/5/2010 533200 TALWALKAR NAVEEN TAPARIA B 177178 156.15
10/5/2010 533200 TALWALKAR CHETAN KANTILAL MEHTA B 225971 159.61
10/5/2010 533200 TALWALKAR NAVEEN TAPARIA S 177178 156.08
10/5/2010 533200 TALWALKAR CHETAN KANTILAL MEHTA S 225971 161.44
10/5/2010 533200 TALWALKAR Naman Securities & Finance Pvt. Ltd. S 235802 156.77
10/5/2010 533200 TALWALKAR R M SHARES TRADING PRIVATE LIMITED S 207393 156.09
10/5/2010 533200 TALWALKAR MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 238850 156.81
10/5/2010 533200 TALWALKAR OPG SECURITIES P LTD S 2032701 156.48
10/5/2010 533200 TALWALKAR UTTAM SHARE BROKERS PRIVATE LIMITED S 135139 155.91
10/5/2010 533200 TALWALKAR MARWADI SHARES AND FINANCE LTD. S 189249 157.16
10/5/2010 533200 TALWALKAR HOTEL LIBRARY CLUB P LTD S 146825 156.78
10/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 1398165 155.63
10/5/2010 533200 TALWALKAR SMART EQUITY BROKERS PRIVATE LIMITED S 1153100 155.91
10/5/2010 533200 TALWALKAR GENUINE STOCK BROKERS PVT. LTD. S 1078663 155.83
10/5/2010 519228 Temptation Food SWASTIK COMMERCIAL PRIVATE LIMITED B 261491 33.44
10/5/2010 519228 Temptation Food SHANKARLAL LAJIT SARIA S 154345 33.48
10/5/2010 511147 Wall Street Fin VIVEK MEHROTRA S 59661 45.00
* B - Buy, S - Sell
NSE Bulk Deals to Watch - May 10 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
10-MAY-2010,ALCHEM,Alchemist Ltd,GR WEALTH CREATORS PRIVATE LIMITED,BUY,39161,198.94,-
10-MAY-2010,ASHOKLEY,Ashok Leyland Ltd.,IDL SPECIALITY CHEMICALS LIMITED,BUY,7600000,64.15,-
10-MAY-2010,CENTEXT,Century Extrusions Limite,BHARAT SHANKAR PHAPALE,BUY,552000,8.50,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,ADARSH PATWARI,BUY,700000,22.00,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,EXCEL MERCANTILE PRIVATE LIMITED,BUY,250000,22.00,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,KULARIA DHARAMCAND PADAMARAM,BUY,139000,20.56,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,MAHAVIR KNITFAB PVT LTD,BUY,139917,20.87,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,BUY,526001,21.44,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,TARA MISHRA,BUY,742857,21.57,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,BUY,192307,21.08,-
10-MAY-2010,GREAVESCOT,Greaves Limited,MORGAN STANLEY MAURITIUS COMPANY LTD,BUY,555000,359.23,-
10-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,BP FINTRADE PRIVATE LIMITED,BUY,41924,65.75,-
10-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,INVENTURE GROWTH & SECURITIES LIMITED,BUY,35935,64.23,-
10-MAY-2010,ISFT,Intrasoft Tech. Ltd,ATHENA COMMERCIAL PVT LTD,BUY,72779,125.67,-
10-MAY-2010,ISFT,Intrasoft Tech. Ltd,SAMIRKUMAR DIPAKBHAI SHAH,BUY,100000,125.98,-
10-MAY-2010,KPIT,KPIT Cummins Infosystems,ANKURKUMAR SURESHKUMAR MEHTA,BUY,547744,111.72,-
10-MAY-2010,PANORAMUNI,Panoramic Universal Limit,RAJ FINVEST,BUY,89402,199.02,-
10-MAY-2010,PANORAMUNI,Panoramic Universal Limit,TARA MISHRA,BUY,136667,200.05,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,156915,154.93,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,BUY,132565,157.71,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,BP FINTRADE PRIVATE LIMITED,BUY,156651,154.45,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,C D INTEGRATED SERVICES LTD.,BUY,238778,155.88,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CPR CAPITAL SERVICES LTD.,BUY,185573,154.32,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,1395583,155.51,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DEEPAK SHANTILAL CHHEDA,BUY,127033,156.60,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DINESH MUNJAL(HUF),BUY,346056,155.68,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,G RAMAKRISHNA,BUY,208000,155.69,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,1486269,155.46,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,HOTEL LIBRARY CLUB P LTD,BUY,145625,156.76,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,INDRA KUMAR BAGRI,BUY,114596,154.57,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,230401,157.83,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,370357,156.54,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,288145,155.51,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,276974,155.82,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,OM INVESTMENTS,BUY,489758,157.11,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R APPALA RAJU,BUY,415000,157.97,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R.M. SHARE TRADING PVT LTD,BUY,222170,156.07,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,RELIANCE MUTUAL FUND,BUY,995733,152.33,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,SS CORPORATE SECURITIES LIMITED,BUY,159040,155.62,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,TOUCHSTONE CAPITAL MARKET SERVICES PVT. LTD,BUY,159001,154.68,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,TRIPTI SINGHVI,BUY,148655,155.46,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,UTTAM SHARE BROKER PVT. LTD.,BUY,135139,155.82,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,BUY,200000,156.89,-
10-MAY-2010,TNPETRO,Tamilnadu Petro Prod Ltd,VALLABH REALTORS PVT LTD,BUY,1010000,21.57,-
10-MAY-2010,VIJSHAN,Vijay Shanthi Builders Li,CAMPHAR SEC. & ADV. P LTD.,BUY,87757,35.61,-
10-MAY-2010,VIJSHAN,Vijay Shanthi Builders Li,NARESHKUMAR,BUY,77081,36.99,-
10-MAY-2010,ALCHEM,Alchemist Ltd,GR WEALTH CREATORS PRIVATE LIMITED,SELL,91994,196.69,-
10-MAY-2010,ASHOKLEY,Ashok Leyland Ltd.,AJAY PRAKSH HINDUJA,SELL,9600000,64.16,-
10-MAY-2010,CENTEXT,Century Extrusions Limite,ASISH FINANCE LIMITED,SELL,637212,8.50,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,ADARSH PATWARI,SELL,700000,20.65,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,KULARIA DHARAMCAND PADAMARAM,SELL,99000,21.76,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,KUVERA CAPITAL PARTNERS LLP A/C KUVERA FUND LIMITED,SELL,1170000,22.00,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,MAHAVIR KNITFAB PVT LTD,SELL,1001,21.75,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,SELL,524625,21.19,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,TARA MISHRA,SELL,730912,20.80,-
10-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,SELL,186344,21.22,-
10-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,BP FINTRADE PRIVATE LIMITED,SELL,20064,66.00,-
10-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,INVENTURE GROWTH & SECURITIES LIMITED,SELL,35934,64.47,-
10-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,SAR AUTO PRODUCTS LIMITED,SELL,91968,64.68,-
10-MAY-2010,ISFT,Intrasoft Tech. Ltd,ATHENA COMMERCIAL PVT LTD,SELL,137648,125.94,-
10-MAY-2010,ISFT,Intrasoft Tech. Ltd,SURBHI TRADING CO, PVT LTD,SELL,75000,125.83,-
10-MAY-2010,KPIT,KPIT Cummins Infosystems,ANKURKUMAR SURESHKUMAR MEHTA,SELL,547744,110.94,-
10-MAY-2010,PANORAMUNI,Panoramic Universal Limit,RAJ FINVEST,SELL,65354,197.83,-
10-MAY-2010,PANORAMUNI,Panoramic Universal Limit,TARA MISHRA,SELL,136667,206.60,-
10-MAY-2010,PARAL,Parekh Aluminex Limited,SUDHIR KESHAVJI SAMPAT,SELL,101000,306.02,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,151915,154.85,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,ASIT C MEHTA INVESTMENT INTERRMEDIATES LTD.,SELL,132565,157.79,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,BP FINTRADE PRIVATE LIMITED,SELL,156660,154.42,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,C D INTEGRATED SERVICES LTD.,SELL,238778,155.76,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CPR CAPITAL SERVICES LTD.,SELL,185573,154.44,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,1395584,156.04,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DEEPAK SHANTILAL CHHEDA,SELL,127033,156.78,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DINESH MUNJAL(HUF),SELL,346056,156.06,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,G RAMAKRISHNA,SELL,208000,156.04,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,1486269,155.76,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,HOTEL LIBRARY CLUB P LTD,SELL,145625,157.25,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,INDRA KUMAR BAGRI,SELL,129955,157.52,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,230401,158.01,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,370357,156.69,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,288145,155.87,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,278974,156.23,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,OM INVESTMENTS,SELL,489758,157.23,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R APPALA RAJU,SELL,415000,156.45,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R.M. SHARE TRADING PVT LTD,SELL,222170,156.65,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,SS CORPORATE SECURITIES LIMITED,SELL,159040,152.70,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,TOUCHSTONE CAPITAL MARKET SERVICES PVT. LTD,SELL,159001,154.92,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,TRIPTI SINGHVI,SELL,148655,154.96,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,UTTAM SHARE BROKER PVT. LTD.,SELL,135139,156.39,-
10-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,VIJIT ASSET MANAGEMENT PRIVATE LIMITED,SELL,200000,157.36,-
10-MAY-2010,TNPETRO,Tamilnadu Petro Prod Ltd,SAWAN VINODBHAI RAVANI,SELL,575000,21.30,-
10-MAY-2010,VIJSHAN,Vijay Shanthi Builders Li,CAMPHAR SEC. & ADV. P LTD.,SELL,4200,36.76,-
10-MAY-2010,VIJSHAN,Vijay Shanthi Builders Li,NARESHKUMAR,SELL,303605,35.51,-
Talwalkars Better Value Fitness attracts 27% premium
Settles at Rs 162.60 on BSE
Shares of Talwalkars Better Value Fitness settled at 162.60 on BSE, at a premium of 27% over the initial public offer price of Rs 128. The stock debuted at Rs 138, at a premium of 7.81% over the initial public offer (IPO) price. On BSE, 1.84 crore shares were traded on the counter. The stock hit a high of Rs 167.70 and a low of Rs 132.
The current share price of Rs 162.60 discounts the company's year ended March 2009 EPS of Rs 1.50 by a PE multiple of 108.40.
Talwalkars Better Value Fitness had priced the initial public offer (IPO) at Rs 128, the top end of the Rs 123-128 per share price band. The IPO got strong response from investors, with foreign institutional investors (FIIs) making a beeline for the IPO. The issue was subscribed 28.39 times.
Category-wise subscription figures showed that FIIs put in bids for 5.46 crore shares as compared to 30.25 lakh shares reserved for the qualified institutional buyers (QIB) category as a whole. Domestic institutional investors, other than mutual funds, put in bids for 92.47 lakh shares. Mutual funds put in bids for 4.17 crore shares.
The non-institutional investors' (NII) portion comprising of corporates and high networth individuals was bid 51.47 times. The retail investors' portion was bid 8.4 times.
The company owns one of the largest and oldest fitness chains in India. The company (as of December 2009) owned 37 health clubs and operated 14 more through franchisee route across 24 cities in 11 states across the country. The company's health clubs offer a suite of standardised services like gym, spa, aerobics and health counselling under the brand name Talwalkars'.
Out of the IPO proceeds, around Rs 50 crore is to be used for setting up of additional health clubs, Rs 20 crore for repaying certain unsecured loans and remaining for meeting the issue related expenses.
Talwalkars Better Value Fitness reported a net profit of Rs 5.69 crore on sales of Rs 52.97 crore in the year ended March 2009.
Sensex surges 3.35% in broad-based rally
The key benchmark indices recouped a large portion of previous week's steep losses in a single trading session today, 10 May 2010, as global stocks rallied after European leaders on Sunday, 9 May 2010, announced a rescue package to prevent Greece's fiscal woes from triggering a broader sovereign-debt crisis. The BSE 30-share Sensex surged 561.44 points or 3.35%. Metal, realty, auto and banking stocks led the rally. The market breadth was strong. The Sensex had lost 4.5% last week as the Greece debt crisis made investors edgy about its impact on global economic recovery.
NSE's volatility index India VIX, a measure of traders' perception of near-term risks in the market based on options prices, tumbled 11.9% to 24.14. The index had risen sharply last week as share prices slumped. India VIX is calculated based on the S&P CNX Nifty options prices. India VIX is a measure of the market's expectation of volatility over the next 30 calendar days.
The market surged in early trade boosted by the euro zone rescue plan announced on Sunday, 9 May 2010. The Sensex regained the psychological 17,000 mark at the onset of the trading session. The Sensex alternatively moved above and below the 17,000 mark as the market moved in a narrow range in morning trade. The market hit a fresh intraday high in mid-morning trade. The market extended gain in early afternoon trade. Blue chips extended gains in afternoon trade tracking rally in European stocks. The market continued its uptrend, with the Sensex hitting a fresh intraday high in mid-afternoon trade. The market extended gains in late trade.
European shares surged on Monday after the European Union on Sunday announced a giant rescue package aimed at containing damage from Greece's debt woes. Key indices in UK, France and Germany jumped by 4.77% to 8.47%.
Asian stocks rose on Monday, 10 May 2010, after European leaders agreed to a giant rescue package in a bid to contain the snowballing worries about the debt levels of Greece and other European nations. The key benchmark indices in China, Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan rose by between 0.39% to 4.06%.
European Union finance leaders reached agreement Sunday to support struggling countries in the region. The European rescue plan, valued at more than $900 billion (720 billion euros), has three main components. The biggest provision at nearly $570 billion (440 billion euros) takes the form of government-backed loans to shore up confidence in shaky credit markets. A second measure is the expansion of a $77 billion (60 billion euros) stabilization fund. Finally, the International Monetary Fund said it would contribute $284 billion (220 billion euros).
Trading in US index futures indicated that the Dow could surge 416 points at the opening bell on Monday, 10 May 2010.
US stocks fell on Friday on fears of another credit crisis stemming from Greece's souring finances and lingering questions about what triggered the previous session's dramatic plunge. The Dow Jones Industrial Average fell 139.89 points, or 1.33% to end at 10,380.43. The Standard & Poor's 500 Index was down 17.27 points, or 1.53% to end at 1,110.88. The Nasdaq Composite Index finished 54 points, or 2.33% lower at 2,265.64.
Thursday's sell-off drove the Dow average down nearly 1,000 points in intraday trade, its biggest-ever intraday point drop. The fall may have been caused by erroneous trades that showed some shares briefly fell to nearly zero in value. The Dow had ended well off the lows that day.
Meanwhile, the latest data showed US nonfarm payrolls grew at the fastest pace in four years in April. The unemployment rate, however, rose to 9.9%.
Back home, the fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1399 companies rose 29.1% to Rs 43114 crore on 28.8% rise in sales to Rs 404187 crore in the quarter ended March 2010 over the quarter ended March 2009.
Business at Indian service companies rebounded to a 21-month-high in April 2010 on new business and high input prices. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 62.1 in April, its highest since July 2008, and compared with 58.1 in March 2010.
A recent industry body report showed that business confidence in India improved on the back of economic recovery. The bi-annual Business Outlook Survey of the Confederation of Indian Industry (CII) showed that the Business Confidence Index (BCI) of the Indian industry increased by 1.5 points for the April-September 2010 period, compared to the past six months.
The government will announce the 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 14 May 2010, the government will unveil data on inflation based on the wholesale prices for the month of April 2010. The headline inflation was 9.9% in March 2010. The RBI has forecast the headline inflation to ease to 5.5% at end-March 2011 on expectations of a normal monsoon.
Inflation based on food prices rose 16.04% in the year through 24 April 2010, slower than previous week's annual rise of 16.61%, the latest government data showed. Fuel prices inflation remained at elevated level. The fuel price index rose 12.69% in the year through 24 April 2010, same as a week ago. The primary articles index rose 13.93% in the year through 24 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 BSE 30-share Sensex surged 561.44 points or 3.35% to 17,330.55. The index rose 587.43 points at the day's high of 17,356.54 in late trade. The Sensex rose 30.38 points at the day's low of 16,799.49 in early trade.
The S&P CNX Nifty rose 175.55 points or 3.5% to 5,193.60.
The BSE Mid-Cap index rose 2.4% and the BSE Small-Cap index rose 2.75%. Both these indices underperformed the Sensex.
The BSE Realty index (up 6.17%), Metal index (up 6.06%), Bankex (up 3.95%) outperformed the Sensex. The BSE Healthcare index (down 0.24%), FMCG index (up 1.11%), PSU index (up 1.56%), Consumer Durables index (up 2.11%), BSE Capital Goods index (up 2.13%), IT index (up 2.74%), BSE Oil & Gas index (up 3.15%), Power index (up 3.26%), Auto index (up 3.32%), underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 2,270 shares advanced as compared to 623 shares that declined. A total of 75 shares remained unchanged.
Among the 30-share Sensex pack, 28 rose while two stocks declined.
BSE clocked turnover of Rs 4019 crore, lower than Rs 4834.36 crore on Friday, 7 May 2010.
Index heavyweight Reliance Industries (RIL) jumped 4.48%, extending Friday's 2.27% gains triggered by a favourable ruling in the Supreme Court on gas dispute with Anil Ambani controlled Reliance Natural Resources (RNRL). RNRL fell 4.93% after tumbling 22.82% on Friday as the company lost the battle. The Supreme Court ordered the two firms to renegotiate a deal based on government policy on gas utilization.
Earlier, the Bombay High Court, in its order dated 15 June 2009 had directed that RNRL will get assured supply of 28 mmscmd of gas from RIL's Krishna-Godavari basin for 17 years at $2.34 per million British thermal units (mBtu). The gas price was 44.28% lower than the price fixed by the government for gas sale from the RIL block in the KG basin at $4.2 mBtu.
Reliance Infrastructure rose 8.49% after a prominent foreign broker maintained overweight rating on the stock with a revised target price of Rs 1,280 per share. The stock staged a strong bounce back. It had lost 7.01% on Friday, 7 May 2010, as shares of Anil Ambani controlled firms slumped after an adverse court ruling on gas dispute with Reliance Industries.
Shares of oil exploration firms rose as crude oil surged more than 4% on Monday, its biggest intraday jump in seven months, on speculation an emergency fund by European policy makers will contain sovereign debt risks and maintain economic growth. Cairn India rose 5.09%. India's second largest oil exploration firm by sales Oil India rose 0.96%. India's largest oil exploration firm by sales ONGC rose 0.59%. Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.
The rise in crude oil prices, however, weighed in PSU OMCs. HPCL, BPCL and Indian Oil Corporation fell by between 1.79% to 2.12%. Rise in crude oil prices will increase under-recoveries of state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at controlled prices. Crude oil for June delivery rose as much as $3.40, or 4.5% to $78.51 a barrel on Asian electronic trading.
Metal and mining stocks rebounded on bargain hunting after a recent steep slide. JSW Steel, Sesa Goa, Tata Steel, Jindal Saw, National Aluminium Company, Jindal Steel & Power, Sterlite Industries, Steel Authority of India, Hindustan Zinc rose by between 2.46% to 8.38%.
Aluminum maker Hindalco Industries jumped 7.7% ahead of its Q4 result on Tuesday, 11 May 2010.
Prices of base metals recovered on Monday after a recent sharp slide triggered by debt worries in the euro zone.
Interest rate sensitive banking shares rose on bargain hunting after a recent steep fall. India's second largest private sector bank by net profit HDFC Bank rose 4.68%, as the stock recovered from losses in the preceding five trading sessions. Its ADR rose 1.84% on Friday.
India's largest private sector bank by net profit ICICI Bank rose 5.12%, as the stock rebounded from losses in the preceding five trading sessions. Its ADR fell 0.21% on Friday.
India's biggest commercial bank in terms of branch network State Bank of India rose 3.61% on bargain hunting after Friday's 3.61% fall.
India's largest mortgage lender by total income Housing Development Finance Corporation rose 2.25%, rebounding from losses in the preceding three trading sessions. The company's board on 3 May 2010 approved a 5-for-1 stock-split.
Auto shares rose on strong vehicle sales in the month of April 2010. India's largest small car maker by sales Maruti Suzuki India rose 1.52%, with the stock recovering from a two-day slide on reports the firm has asked vendors to cut component costs by 3% in this financial year that could lead to savings of around Rs 700 crore a year for the company.
Maruti's total sales rose almost 30% to 93,058 units in April 2010 over April 2009. Domestic sales rose 23.4% to 80,034 units. The data was unveiled on 1 May 2010.
India's top truck maker by sales Tata Motors rose 6.72%, with the stock rebounding from losses in the preceding five trading sessions. Total sales including exports of commercial and passenger vehicles jumped 52% to 57,202 vehicles in April 2010 over April 2009. Domestic sales rose 49% to 54,065 units. Exports rose 148.8% to 3,137 units.
India's largest tractor maker by sales Mahindra & Mahindra gained 5.81%. Bajaj Auto rose 2.97%. But, India's largest motorbike maker by sales Hero Honda Motors fell 0.21%, reversing early gains.
Car sales in India rose an annual 39.5% to 143,976 cars in April 2010 over April 2009, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Sales of trucks and buses, a barometer of economic activity, rose 64.5 % to 49,086 units in April 2010 over April 2009, SIAM said.
Realty stocks rebounded on bargain hunting after falling sharply in the past few days. Ansal Properties, HDIL, Ackruti City, DLF, Sobha Developers, Indiabulls Real Estate and Unitech rose by between 2.47% to 8.03%.
FMCG shares rose on bargain hunting. Tata Tea, Hindustan Unilever, ITC and United Spirits rose by between 1% to 1.95%,
Cipla fell 6.42%. The stock was the biggest loser from the Sensex pack. The company's net profit rose 8.93% to Rs 275.53 crore in Q4 March 2010 over Q4 March 2009. The result was announced after market hours on Friday, 7 May 2010.
But, other pharma stocks rose. Pfizer, Biocon, Dr Reddy's Laboratories and Sun Pharmaceutical Industries rose by between 1.08% to 2.29%.
Ranbaxy Laboratories rose 1.06% ahead of its Q1 result on Tuesday, 11 May 2010.
Telecom stocks rose on bargain hunting after recent losses. India's largest cellular services provider by sales Bharti Airtel rose 2.31%. India's second largest listed cellular services provider by sales Reliance Communications gained 1.21%.
Capital goods stocks rose on bargain hunting after recent sharp fall. SKF India, BEML, Larsen & Toubro, Bharat Heavy Electricals, Praj Industries, Siemens rose by between 1.72% to 5.67%.
IT pivotals rose after the European Union on Sunday, 9 May 2010, agreed a giant rescue package to contain high public debt in the euro zone area. Europe is the second largest market for Indian IT firms. India's third largest software services exporter Wipro rose 5.18%, with the stock rebounding from a two-day slide. Its ADR fell 1.02% on Friday. India's second largest software services exporter Infosys rose 2.12%, rebounding from a two-day slide. Its ADR fell 0.62% on Friday. India's largest software services exporter TCS rose 3.71%.
Talwalkars Better Value Fitness IPO settled at Rs 162.60 on BSE, at a premium of 27.03% over the issue price of Rs 128. The stock debuted at Rs 138, at a premium of 7.81% over the issue price.
Cals Refineries clocked the highest volume of 4.18 crore shares on BSE. Reliance Natural Resources (3.35 crore shares), Talwalkars Better Value Fitness (1.84 crore shares), Filmcity Media (1.45 crore shares) and Birla Power Solutions (89.91 lakh shares) were the other volume toppers in that order.
Talwalkars Better Value Fitness clocked the highest turnover of Rs 300.54 crore on BSE. Reliance Natural Resources (Rs 168.15 crore), Reliance Industries (Rs 153.18 crore), Tata Steel (Rs 136.52 crore) and Sesa Goa (Rs 75.59 crore) were the other turnover toppers in that order.
Daily Grey Market Premiums - May 10 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Talwalkars Better Value Fitness Ltd. | 128 | 20 to 22 |
| Nitesh Estate | 54 | Discount |
| Tarapur Transformers | 75 | 2 to 3 |
| Mandhana Industries Ltd. | 130 | 5 to 6 |
| Tara Health Foods | 180 to 190 | Withdraw |
| Sutlaj Jal Vidhut Nigam (SJVNL) | 26 | 2 to 3 |
| Jaypee Infra | 102 | Discount |
Metal shares lead 4.5% Sensex slide
The market tumbled below 17,000 level as the Greece debt crisis made investors edgy about its impact on global economic recovery. Notwithstanding the assurance of funds from International Monetary Fund (IMF) to Greece, debt crisis haunted global markets and impacted other emerging markets including India in the form of high volatility.
FII outflow in May 2010 totaled Rs 981.90 crore, while inflow in the calendar year 2010 totaled Rs 29,023.90 crore (till 5 May 2010).
Fears of a fresh credit crunch in Europe threw global markets into disarray last week. European Central Bank President Jean-Claude Trichet on Thursday, 6 May 2010, rejected calls for more aggressive action to avert fiscal contagion in Southern Europe, shaking investors as he suggested the euro zone's monetary-policy makers have done all they can for now. Trichet offered only rhetorical support for Greece and Portugal, the two countries most at risk from high indebtedness and stagnant economic growth.
Back home, inflation based on food prices rose 16.04% in the year through 24 April 2010, slower than previous week's annual rise of 16.61%, the latest government data showed. Fuel prices inflation remained at elevated level. The fuel price index rose 12.69% in the year through 24 April 2010, same as a week ago. The primary articles index rose 13.93% in the year through 24 April 2010.
The fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1290 companies rose 29.40% to Rs 42,157 crore on 29.10% rise in sales to Rs 3,91,885 crore in the quarter ended March 2010 over the quarter ended March 2009.
Meanwhile, business at Indian service companies rebounded to a 21-month-high in April 2010 on new business and high input prices. The HSBC Markit Business Activity Index, based on a survey of 400 firms, rose to 62.1 in April, its highest since July 2008, and compared with 58.1 in March 2010.
A recent industry body report showed that business confidence in India improved on the back of economic recovery. The bi-annual Business Outlook Survey of the Confederation of Indian Industry (CII) showed that the Business Confidence Index (BCI) of the Indian industry increased by 1.5 points for the April-September 2010 period, compared to the past six months.
The BSE Sensex tumbled 789.60 points or 4.49% to 16769.11 in the week ended Friday, 7 May 2010. The S&P CNX Nifty slumped 259.95 points or 4.92% to 5,018.05 in the week.
The BSE Mid-Cap index fell 4.87% and the BSE Small-Cap index fell 5.40% in the week. Both these indices underperformed the Sensex.
The key benchmark indices ended a choppy trading session lower on Monday, 3 May 2010, as weak global stocks weighed on investors' sentiment. The BSE 30-share Sensex fell 172.63 points or 0.98% to 17,386.08. The S&P CNX Nifty declined 55.25 points or 1.05% to 5,222.75.
The key benchmark indices slumped on Tuesday, 4 May 2010, extending losses for the second straight day, as world stocks fell. The BSE 30-share Sensex fell 248.94 points or 1.43% to 17,137.14. The S&P CNX Nifty fell 74.25 points or 1.42% to 5,148.50.
The key benchmark indices extended losses for the third straight day on Wednesday, 5 May 2010, on continued worries over fiscal health of euro zone nations. Nevertheless, the market staged a strong intraday rebound after an initial sharp slide. The BSE 30-share Sensex fell 49.18 points or 0.29% to 17,087.96. The S&P CNX Nifty declined 23.60 points or 0.46% to 5,124.90.
The key benchmark indices ended a choppy trading session lower on Thursday, 6 May 2010, as debt worries in the euro zone weighed on investors' sentiment. The barometer index BSE Sensex fell below the psychological 17,000 level after flirting with that level throughout the day. The BSE 30-share Sensex fell 100.43 points or 0.59% to 16,987.53. The S&P CNX Nifty declined 34.05 points or 0.66% to 5,090.85.
The key benchmark indices extended losses on the last trading day of the week on Friday, 7 May 2010 as euro zone debt worries rattled global stocks. Except the Oil & Gas index, all the other sectoral indices on the BSE closed in the red. The BSE 30-share Sensex fell 218.42 points or 1.29% to 16,769.11. The S&P CNX Nifty declined 72.80 points or 1.43% to 5018.05.
All the Sensex stocks, barring Reliance Industries, ended the week in negative zone. Index heavyweight Reliance Industries (RIL) inched up 0.13%. A three member Supreme Court bench on Friday, 7 May 2010, ruled 2-1 in favour of the company on gas dispute with Reliance Natural Resources (RNRL). The court ordered the two feuding firms to renegotiate a gas contract which was first drawn up in 2005 as a part of a family settlement.
Supreme Court judge P Sathasivam declared that the brothers' MoU was not binding and that RIL and RNRL must renegotiate the gas contract in six weeks. The judge said that the government owned all the gas assets till they reached the users. He added that Production Sharing Contract (PSC) will override all the prior agreements and the MoU between the Ambani brothers is not binding. He also said that it was not feasible to restrain the government's power on gas and it is a natural asset which belongs to the people.
Justice B.Sudarshan Reddy then delivered dissent to Justice Sathasivam's verdict. At the end of both verdicts, the Chief Justice of India KG Balakrishnan supported Justice Sathasivam.
Earlier, the Bombay High Court, in its order dated 15 June 2009 had directed that RNRL will get assured supply of 28 mmscmd of gas from RIL's Krishna-Godavari basin for 17 years at $2.34 per million British thermal units (mBtu). The gas price was 44.28% lower than the price fixed by the government for gas sale from the RIL block in the KG basin at $4.2 mBtu.
Shares of Anil Dhirubhai Ambani-controlled Reliance Natural Resources slumped 24.69%.
Metal shares bore the major brunt of last week's sell-off with the barometer for metal shares, the BSE Metal index slumping 9.64% to 17,664.76. Sterlite Industries (down 13.77%), Tata Steel (down 9.72%), Hindalco Industries (down 8.43%), were the major metal shares that tumbled.
Reliance Infrastructure (down 13.77%), Jaiprakash Associates (down 11.80%), DLF (down 8.42%), ICICI Bank (down 7.79%) and HDFC Bank (down 7.24%), were some of the major Sensex losers.
India's largest dedicated mortgage lender by market capitalisation Housing Development Finance Corporation (HDFC) fell 3.21%. Net profit rose 26.30% to Rs 926.38 crore on 8.10% decline in total income to Rs 2,899.32 crore in Q4 March 2010 over Q4 March 2009. HDFC's board approved a 5-for-1 stock split.
India's largest truck maker by sales Tata Motors fell 12.64%. Its total sales including exports of commercial and passenger vehicles jumped 52% to 57,202 vehicles in April 2010 over April 2009.
Tata Motors' domestic sales rose 49% to 54,065 units. Exports rose 148.8% to 3,137 units. Commercial vehicle sales in the domestic market rose 36% to 30,963 units. Passenger vehicle sales jumped 70% to 24,902 units. Passenger vehicle sales include distribution of Fiat cars by Tata Motors. Sales of the ultra-cheap car Tata Nano totaled 3,525 units in April 2010.
Bright day for precious metals
Gold registers weekly gains but silver slips
Precious metals ended higher on Friday, 07 May at Comex. Precious metals added gains at Comex even as US equities dropped despite a bright job report and other commodities like oil plunged as European sovereign debt concerns failed to abate.
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 Friday, gold for June delivery ended at $1,210.4 an ounce, higher by $13.1 (1.1%) an ounce on the New York Mercantile Exchange. It was a five-month high level for gold. It hovered around the $1,200 mark for the entire day and dropped earlier in the day. It is very close to touch its all time high level of $1,217 it witnessed last December. Gold for June delivery settled above $1,200 in early December, only to pull back to $1,172 area and dip as much as the $1,050 vicinity in early February.
For the week, gold ended higher by 2.5%. For the month of April, gold ended higher by 6%. 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 10.2%.
On Friday, July Comex silver futures ended higher by 94 cents (5.3%) at $18.45 an ounce. For the week, silver ended lower by 0.9%. For the month of April, silver ended higher by 4.1%. For the first quarter of this year, silver rose by 3%. On a year to date basis, silver is higher by 6.3%.
The best monthly jobs report in four years couldn't keep sellers from sending US stocks to their fourth straight loss, which contributed to the stock market's worst weekly performance in one year.
A bailout package worth some $146 billion for Greece was announced last weekend, but it was not enough to restore investors' confidence about the euro-zone countries and the euro and investors again sought gold as a hedge against currency fears.
Among economic reports for the day, The Labor Department in US reported on Friday, 07 May 2010 that U.S. added 290,000 jobs in April, the biggest increase since March 2006, with broad gains throughout the economy. Despite this, the unemployment rate rose.
The report showed that excluding temporary Census workers, nonfarm jobs rose a seasonally adjusted 224,000. The unemployment rate ticked up to 9.9% from 9.7% owing to a big increase in the labor force. Some 805,000 people entered the labor force in April, one of the largest increases on record. About 550,000 of them found work; 255,000 did not.
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.
Big drop for crude oil
Prices shed almost 12% during the week
Crude oil ended substantially lower at Nymex on Friday, 07 May 2010. Prices fell in tandem with US equities as European sovereign debt concerns failed to abate questioning demand for crude in coming months. Prices also fell due to a strong dollar and as energy department earlier during the week reported a more than expected build up in crude inventories for last week.
On Friday, crude-oil futures for light sweet crude for June delivery closed at $75.11/barrel (lower by $2 or 2.6%). Prices have shed nearly 10% in the past four sessions. For the week, crude ended lower by 12%. For the month of April, crude rose 2.8%. For the first quarter of this year, crude rose by 5.5%. Year to date, crude is unchanged.
Prices are 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 143% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
The best monthly jobs report in four years couldn't keep sellers from sending US stocks to their fourth straight loss, which contributed to the stock market's worst weekly performance in one year.
A bailout package worth some $146 billion for Greece was announced last weekend, but it was not enough to restore investors' confidence about the euro-zone countries and the euro and investors again sought gold as a hedge against currency fears.
Among economic reports for the day, The Labor Department in US reported on Friday, 07 May 2010 that U.S. added 290,000 jobs in April, the biggest increase since March 2006, with broad gains throughout the economy. Despite this, the unemployment rate rose.
The report showed that excluding temporary Census workers, nonfarm jobs rose a seasonally adjusted 224,000. The unemployment rate ticked up to 9.9% from 9.7% owing to a big increase in the labor force. Some 805,000 people entered the labor force in April, one of the largest increases on record. About 550,000 of them found work; 255,000 did not.
In the weekly inventory report, EIA reported during the middle of last week that crude-oil inventories rose 2.8 million barrels in the week ended 30 April. It included a 1.7 million increase in inventories in Cushing, Okla., the delivery point for Nymex oil. Market had expected crude stocks to increase by 1.54 million barrels. The report also showed that gasoline stockpiles rose by 1.2 million when the expectation was of a modest rise of 200,000 barrels. Refineries operated at 89.6% of their operable capacity.
Among other energy products on Friday, natural gas for June delivery added 9 cents to settle at $4.0150 per million British thermal units. Gasoline for June delivery lost 3 cents to end at $2.1251 a gallon.
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.
Positive start likely on supportive Asian cues
Headlines for the day:
New FDI norms for 'Indian' firms likely
Alcon to form JVs with Indian drug companies
Maruti asks component suppliers to reduce costs
Events for the day:
Major corporate action
Talwalkars to list today
Visaka Industries board to consider stock split
Results: Jubilant Organosys
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European shares ended at a seven-month closing low on Friday i.e. May 7, 2010, suffering their biggest weekly fall since November 2008, hurt by escalating fears over the euro zone debt crisis.
The US stocks slid on Friday, completing the biggest weekly decline in more than a year. The Dow Jones industrials closed with a loss of about 140 points, having been down almost 280 earlier in the day.
In today's trade, the Asian markets were trading in the positive territory. At the time of writing this report, SGX Nifty was trading 88.5 points higher.
Indian markets
The Asian markets were quoting higher in their early trade after a massive bail out for Greece took shape over the weekend. The International Monetary Fund has put up nearly $40 billion to help bail out Greece and appease investors' fears of a spreading European debt crisis. The strong Asian cues, good US data numbers released on Friday, will help the Indian markets to begin the session on a positive note. In this week, the investors will eye the index of industrial production (IIP) data for the month of March. The earnings of Jubilant Organosys will be watched later today, the stock will be in focus.
Commodity cues
In the commodity space, the crude oil prices fell for the fourth straight day, following US stocks, as investors remained bearish about Europe's prospects, with the Nymex light crude oil for the June series declined by $2.00 per barrel, whereas in the metals space, the Comex Gold for the June series rose by $13.10 and the Comex Silver for the June series was up by $0.94 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On May 06 2010, the foreign institutional investors (FIIs) were the net sellers of the Indian stocks to the tune of Rs1,389.10 crore, whereas the domestic mutual funds, on May 05, 2010, were the net buyers of the stocks to the tune of Rs102.90 crore.
Daily News Roundup - May 10 2010
SC directs Reliance Industries to initiate renegotiation with RNRL within six weeks on the terms of the gas supply agreement so that their interests are safeguarded. (BL)
JSW Steel reported that its crude steel production has increased by 20% to 560,000 tonnes in April. (BL)
IRB Infra bags Rs12bn road project. (BL)
JSL has signed a MoU with the Orissa Government to set up a 1,320MW super critical thermal power plant at Luni. (BL)
Apollo Hospitals will add 2,200 beds over the next two years with an estimated investment of Rs10bn. (FE)
Tata Steel will raise Rs100bn of debt to finance its 3mn tonne expansion in Jamshedpur and to part-pay debt at Corus. (DNA)
Dabur plans to go ahead with its overseas acquisition plans this fiscal, particularly in the personal care and healthcare segment, in the Middle East and African countries. (ET)
Sun Pharma is voluntarily recalling about 27,000 bottles of anticholesterol medicine Gemfibrozil tablets from the US market after impurity levels exceeded permissible limits. (ET)
Cipla in talks to make and supply drugs to global pharmaceutical firm Pfizer as the US-based company plans a foray in the generics business space. (ET)
RCom to launch IPTV service in Mumbai, Delhi in three months. (ET)
LIC Housing Finance plans to raise Rs200bn during the current fiscal to fund its business growth. (ET)
Alcon Inc plans to rope in strategic manufacturing alliances and joint ventures with Cipla. (BS)
The three Patni brothers of Patni Computer may get a premium for selling their stake to Japanese strategic investor NTT Data, compared to PE firm General Atlantic. (ET)
Ansal Properties plans to raise Rs710mn by selling 6.94% stake to a group of investors led by Enam Investment Services. (ET)
Kemrock Industries plans upto Rs18bn investment in 4-5 years. (BS)
Dalmia Cement and Kohlberg Kravis Roberts together with its affiliates have signed a definitive agreement under which KKR is planning to invest Rs7.5bn in the company’s subsidiary. (BS)
DCM Shriram plans to send Rs80mn in two years to develop a lignite mine in Rajasthan. (BS)
Triveni Engineering plans to list the demerged entity Triveni Turbine on the domestic bourses by the end of 2010. (BS)
Nava Bharat Ventures unit has concluded the purchase of 65% equity stake in Zambia-based Maamba Collieries from ZCCM-Investment Holdings Plc. (BS)
Gemini Communication acquires African telecom and internet services provider Rosy Blue Wireless. (ET)
The government may rework natural gas allocation priorities to accommodate ADAG's Dadri power plant. (ET)
Retail investors to get 5% discount in Engineers India's follow-on offer. (ET)
Great Offshore likely to ink joint venture with foreign offshore player. (ET)
Tinplate is working with Corus group to explore joint marketing opportunities for food and beverages packaging in Europe. (ET)
Private telecom companies ask the government not to give any concessions to BSNL and MTNL regarding payments for third-generation airwaves. (ET)
The value of the auction for 3G spectrum moves up to Rs129bn.(BL)
Foreign exchange reserves were up US$157mn to US$278bn for the week ending April 30. (BL)
The government may soon ask companies with less than 50% foreign equity to seek approval of the FIPB to make any downstream investment. (BS)
Contagion contained…temporarily!
Knowing that there is worse pain doesn't make present pain hurt any less – Anonymous.
After several days of turbulence, we are in for a gap-up start this Monday morning, as the EU and the IMF have agreed on an emergency funding facility worth as much as €720bn in loan guarantees and credits to stabilise the eurozone. The ECB will buy government bonds in the secondary market to calm jittery credit markets. The Fed will reopen dollar swap program and Bank of Japan has offered $21.6bn in liquidity. Asian markets are mostly positive. US stock futures and euro jumped on euro zone package news. Markets in Europe are also likely to open higher on the news of deal among European nations to help stabilize troubled economies.
Needless to say, bourses in India will start on a stronger footing. Shares in Nifty 50 will also be affected by the proposed changes in free float of its constituents. Reliance and ADAG group shares will remain in focus following the SC verdict. The latest IIP data will be out on Wednesday and is expected to be robust. Monthly inflation figures will be announced later in the week. Monsoon will be a key variable over the next few weeks and even months.
Volatility will prevail in the near term as investors gauge the impact of the unprecedented efforts to stem the European debt crisis. Apart from Europe, one should also keep an eye on developments in key economies such as the US and China. On the domestic front, the immediate worries persist on high inflation and its possible fallout on monetary policy. And, despite the recent decline, valuations (based on one year forward earnings) too are looking a bit stretched. Fund flows, especially from the overseas investors will of course continue to have a bearing on the overall sentiment.
Results Today: Elecon Engineering, HT Media, Jubilant Organosys, Jubilant Foodworks, McNally Bharat, Monnet Ispat, Orbit Corp, Radico Khaitan, Unichem Labs, Usha Martin and Zicom.
FIIs were net sellers of Rs13.08bn in the cash segment on Friday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs6.54bn. In the F&O segment, the foreign funds were net buyers of Rs8.07bn. FIIs were net sellers of Rs13.89bn in the cash segment on Thursday, as per the SEBI data.
US stocks tumbled on Friday, with all the three major indexes ending in negative territory for the year, as investors mulled the European debt crisis and the aftermath of one of the most gut-churning days in Wall Street trading history. The fall capped the worst week in at least a year for Wall Street and the worst start for US stocks to May ever.
The Dow Jones Industrial Average closed down 139.89 points, or 1.3%, to 10380.43. For a week that included three triple-digit point declines, the Dow was off 5.7% - its worst week since March 2009. Its weekly point drop was the worst since October 2008.
The S&P 500 shed 17 points or 1.5% to end the session at 1,110.88 as all 10 of its categories ended lower. The Nasdaq Composite Index finished at 2,266, down 54 points or 2.33%, putting it in correction territory from its April 26 high.
All three US indexes also closed lower for the fourth straight session and the second straight week.
The selloff from the late April highs has been substantial enough that the Nasdaq, with a loss of 10.5%, is now considered to be in a correction. The Dow and S&P 500 are also approaching double-digit losses, down 7.4% and 8.7% respectively.
Wall Street's key volatility measure soared to a 13-month high as stocks continued their slide, a day after computer glitches caused erroneous trades that prompted a huge sell-off in equities.
The CBOE Volatility index, or the VIX, was up 26% to $41.43, after rising as high as $42.15 earlier in the session.
Treasury prices slipped, pushing the yield of the benchmark 10-year note up to 3.420%. But government debt ended with its best week since August 2008. The US dollar had its best weekly gain since October 2008.
Gold rose 1.1%, at $1,210.40 an ounce, a five-month high for the metal, while oil tumbled.
Trading was unusually heavy throughout the day. Composite activity in New York Stock Exchange-listed companies hit 9.6 billion shares, well above the 2010 daily average but below Thursday's total near 11 billion.
The technology and industrials sectors led decliners in the Standard & Poor's 500-stock index, off more than 2% each.
US stocks were extremely volatile throughout Friday, with the major indexes criss-crossing the breakeven line several times during the day. Investors also continued to worry about Europe's debt crisis as riots continued in Greece. Those worries overshadowed a Labor Department report showing job growth in April at its fastest pace in four years in the US. British elections failed to produce a ruling majority, resulting in a hung Parliament for the first time since the 1970s.
Meanwhile, US investors remained rattled after a session in which the Dow lost almost 1,000 points before closing off 3.2%, or 348 points. That 998.5-point loss was the worst ever on an intraday basis. Exchanges and traders struggled to figure out what went wrong.
Germany approved its contribution to a joint European Union-International Monetary Fund loan package for Greece. The finance ministers of the Group of Seven leading economies also held a telephone conference to discuss the Greek debt turmoil.
In the day's key economic report, American employers added 290,000 jobs to their payrolls in April, the government said, surprising economists who expected 187,000 new jobs. It was the biggest one-month gain since March 2006. March's number was revised up to 230,000 from the originally reported 162,000.
In company news, AIG reported a quarterly profit Friday morning, versus a year-ago loss, as the company's insurance business continued to stabilize. The company's shares are up 23% this year on hopes it can pay back the more than $120 billion in loans it owes taxpayers. The company received a bailout worth up to $182 billion from the government.
Goldman Sachs was a notable exception to the selloff among the financials, with shares rising 0.5% as executives faced an annual shareholder meeting amid civil and criminal investigations into the company's mortgage deals.
European shares closed out their worst week in 18 months on a weak note as Greece's debt problems remained in the spotlight and UK election results proved inconclusive. The Stoxx Europe 600 index fell 3.9% to 237.19, bringing losses for the week to 8.7%. That is the largest weekly percentage drop for the index since the week to Nov. 21, 2008 when it fell 11.48%.
The French CAC-40 index fell 4.6% to 3,392.59 and the German DAX index slipped 3.3% to 5,715.09. The UK's FTSE 100 index traded down 2.6% to 5,123.02.
With no clear winner in British general election, markets saw greater risks for the UK. Sterling dropped 1.2% to $1.4689 as investors fretted there won't be a strong enough government to cut the country's deficit even as two credit rating agencies reaffirmed their view on the country.
The euro managed to take back a fraction of recent losses against the dollar, as the upper and lower houses of the German parliament approved the country's participation in the aid package for Greece.
The value of the auction for 3G spectrum moves up to Rs129bn.(BL)
Foreign exchange reserves were up US$157mn to US$278bn for the week ending April 30. (BL)
The government may soon ask companies with less than 50% foreign equity to seek approval of the FIPB to make any downstream investment. (BS)
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