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Wednesday, May 12, 2010
Markets volatile but dreary
Today's major news
March IIP at 13.5%
Reserve Bank of India eases external commercial borrowing norms for infrastructure finance companies
Bajaj Auto’s Q4FY2010 net up over three times; the stock closed 1.02%
higher
Click here for more stories
Global signals
European stocks advanced on Wednesday on the back of strong banking results that boosted financial stocks and austerity measures announced by Spain. As of writing of this report, FTSE 100 (London) was trading marginal 0.05% higher while DAX (Germany) was trading over 1% up.
Asian indices except Nikkei (Japan) and Kospi (Korea) closed higher. SGX Nifty closed 20 points up.
US stock futures signal higher opening at Wall Street as Europe debt fears eased after Spain announced tough measures to cut its fiscal deficit. CISCO will be in focus as it is due to announce its quarterly earnings later in the day.
Indian indices
Indian indices rebounded from yesterday’s losses and edged higher in a rather volatile session. Despite a lower than expected IIP readings for March (13.5%), the indices closed higher as European markets rebounded from yesterday’s losses after Spain announced tough measures to cut its fiscal deficit and buying in health care and fast moving consumer good (FMCG) stocks in afternoon session.
Sensex that opened at par i.e. 17141 nudged higher in the opening trades. The index had a roller coaster ride for the better part of the day as it hovered between positive and negative territories. After disappointing IIP numbers for March and continuous selling in telecom stocks, on talks of the telecom regulator planning to propose a one-time fee for excess spectrum that will hit Bharti Airtel, BSNL, Vodafone Essar and Idea Cellular, the market slipped to touch the day’s low of 17028. However, buying in health care and FMCG scrips and positive opening in Europe helped Sensex to rebound and touch the day’s high of 17252. At closing bell, Sensex was pitted at 17196, 54 point higher while Nifty was 21 points higher at 5157.
Market sentiment
Market breadth, a metric for broader markets, closed negative. Of the 2,957 stocks traded on BSE, 1,640 stocks closed lower and 1,205 stocks finished higher. Hundred and two stocks were unchanged.
Sectoral & stock screening
Of the 13 sector indices, nine closed higher while four closed lower. Among gainers BSE HC surged the most by 1.61% followed by BSE FMCG that advanced 1.45%. On the other hand BSE TECk was hit the most—by 0.63%—while BSE Power, BSE CG and BSE Auto fell marginally.
Among A group stock, the top three gainers were Jubilant Organosys (up 6.12%), Dr Reddy’s Laboratories (up 5.53%) and Rural Electrification Company (up 3.72%). The top three losers were Bharti Airtel (down 8.29%), Idea Cellular (down 8.21%) and Gujarat NRE Coke (down 3.98%).
Viewing volumes
Anil Dhirubhai Ambani Group (ADAG)_company, Reliance Natural Resources saw highest trading for the fourth day on a trot with over 0.97 crore shares changing hands on the BSE, followed by industrial finance company IFCI (0.76 crore shares), wind turbine major Suzlon Energy (0.45 crore shares), India’s second largest developer Unitech (0.42 crore shares) and sugar major Shree Renuka Sugars (0.41 crore shares).
BSE Bulk Deals to Watch - May 12 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
12/5/2010 532774 Accel Front TRANSGLOBAL SECURITIES LTD. B 114734 60.52
12/5/2010 532774 Accel Front KANCHAN CHHABRA B 130995 59.48
12/5/2010 532774 Accel Front TRANSGLOBAL SECURITIES LTD. S 114734 60.16
12/5/2010 532774 Accel Front KANCHAN CHHABRA S 157324 59.25
12/5/2010 530043 Acknit Inds SHREE VINIYOG PRIVATE LIMITED B 34000 30.37
12/5/2010 530043 Acknit Inds PAVI INVESTMENT PVT LTD S 34000 30.37
12/5/2010 507852 Addi Inds URMILA JAIN B 201000 6.83
12/5/2010 507852 Addi Inds SEWASTUTI FINANCE P.LTD S 200000 6.83
12/5/2010 532166 Alka Securities HARSHVARDHAN JAIN B 596730 6.30
12/5/2010 532166 Alka Securities HARSHVARDHAN JAIN S 534742 6.07
12/5/2010 531761 Amulya Leas SAKET AGRAWAL B 200000 20.81
12/5/2010 531761 Amulya Leas IMRATI DEVI S 150000 20.81
12/5/2010 531761 Amulya Leas SAROJ DEVI S 50000 20.81
12/5/2010 500463 Avaya Glob SMART EQUITY BROKERS PRIVATE LIMITED B 125640 289.41
12/5/2010 500463 Avaya Glob OPG SECURITIES P LTD B 100254 294.47
12/5/2010 500463 Avaya Glob JMP SECURITIES PVT LTD B 80791 309.31
12/5/2010 500463 Avaya Glob BP FINTRADE PRIVATE LIMITED B 73166 299.19
12/5/2010 500463 Avaya Glob SMART EQUITY BROKERS PRIVATE LIMITED S 125640 289.81
12/5/2010 500463 Avaya Glob OPG SECURITIES P LTD S 100254 294.48
12/5/2010 500463 Avaya Glob JMP SECURITIES PVT LTD S 77491 308.64
12/5/2010 532946 Bang Overseas BP FINTRADE PRIVATE LIMITED B 133860 54.67
12/5/2010 532946 Bang Overseas BP FINTRADE PRIVATE LIMITED S 130855 54.70
12/5/2010 590061 Brushman India SICPA INDIA LTD S 99141 6.95
12/5/2010 500083 Century Extr EPOCH SYNTHETICS PRIVATE LIMITED B 298375 7.61
12/5/2010 500083 Century Extr BHARAT SHANKAR PHAPALE S 386811 7.62
12/5/2010 531337 Channel Guide KAUSHAL INDRAVADAN MEHTA S 31200 13.37
12/5/2010 530495 Chhattisgarh Inds OMKARA STEEL AND WIRES PRIVATE LIMITED B 206402 8.00
12/5/2010 530495 Chhattisgarh Inds ADYAMAA TRACOM PRIVATE LIMITED B 99500 8.04
12/5/2010 530495 Chhattisgarh Inds MANOJ KUMAR GANGULY B 100000 8.10
12/5/2010 530495 Chhattisgarh Inds ASIAN CAPITAL MARKET LIMITED B 100000 8.10
12/5/2010 530495 Chhattisgarh Inds ADYAMAA TRACOM PRIVATE LIMITED S 250000 8.03
12/5/2010 530495 Chhattisgarh Inds ADYAMAA TRACOM PRIVATE LIMITED S 99500 8.00
12/5/2010 530495 Chhattisgarh Inds MANOJ KUMAR GANGULY S 100000 8.10
12/5/2010 530495 Chhattisgarh Inds ASIAN CAPITAL MARKET LIMITED S 100000 8.10
12/5/2010 531171 Devika Prot AYODHYAPATI INVESTMENT PVT LTD B 108447 29.78
12/5/2010 531171 Devika Prot MRUNAL AGENCY & FINANCE PVT. LTD. B 69821 29.89
12/5/2010 531171 Devika Prot AYODHYAPATI INVESTMENT PVT LTD S 103447 30.00
12/5/2010 531171 Devika Prot MRUNAL AGENCY & FINANCE PVT. LTD. S 99821 29.84
12/5/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED B 194582 19.23
12/5/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED S 180104 19.09
12/5/2010 526574 Enterprise Intl BRIJLATA SARDA B 61000 6.51
12/5/2010 526574 Enterprise Intl BASANT KUMAR MIMANI S 61000 6.51
12/5/2010 590094 FARMAX IND SHRIRAM TIBREWALA B 247591 114.82
12/5/2010 590094 FARMAX IND SHRIRAM TIBREWALA S 207591 114.43
12/5/2010 590024 Fert & Chem Trv RKSV SECURITIES INDIA PRIVATE LIMITED B 32491 57.03
12/5/2010 590024 Fert & Chem Trv RKSV SECURITIES INDIA PRIVATE LIMITED S 32491 56.85
12/5/2010 532857 Glory Polyfilms M/S. RIKHAV INVESTMENTS B 211736 21.68
12/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. B 228931 21.17
12/5/2010 532857 Glory Polyfilms SAAKSHI SHARES PVT LTD B 1841763 22.15
12/5/2010 532857 Glory Polyfilms SARSWATI VINCOM LTD B 513212 22.54
12/5/2010 532857 Glory Polyfilms PUSHKAR BANIJYA LIMITED B 500000 22.25
12/5/2010 532857 Glory Polyfilms NIRAJHAR SUKHLAL SANGHAVI B 947099 21.49
12/5/2010 532857 Glory Polyfilms Naman Securities & Finance Pvt. Ltd. B 140436 21.56
12/5/2010 532857 Glory Polyfilms JMP SECURITIES PVT LTD B 1704515 22.52
12/5/2010 532857 Glory Polyfilms KUMAR PATKI KISHORE B 300000 22.55
12/5/2010 532857 Glory Polyfilms SHREY SECURITIES PVT LTD B 125007 22.07
12/5/2010 532857 Glory Polyfilms BIMAL PRAVINCHANDRA KAMDAR B 125000 22.50
12/5/2010 532857 Glory Polyfilms BP FINTRADE PRIVATE LIMITED B 482161 22.33
12/5/2010 532857 Glory Polyfilms M/S. RIKHAV INVESTMENTS S 211736 21.56
12/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. S 228931 21.01
12/5/2010 532857 Glory Polyfilms SAAKSHI SHARES PVT LTD S 1933814 22.51
12/5/2010 532857 Glory Polyfilms SARSWATI VINCOM LTD S 513212 22.55
12/5/2010 532857 Glory Polyfilms NIRAJHAR SUKHLAL SANGHAVI S 947099 21.95
12/5/2010 532857 Glory Polyfilms Naman Securities & Finance Pvt. Ltd. S 140436 21.36
12/5/2010 532857 Glory Polyfilms JMP SECURITIES PVT LTD S 1709013 22.32
12/5/2010 532857 Glory Polyfilms MAHAVIR KNIT FAB PRIVATE LIMITED S 122575 21.43
12/5/2010 532857 Glory Polyfilms SHREY SECURITIES PVT LTD S 125006 21.99
12/5/2010 532857 Glory Polyfilms BP FINTRADE PRIVATE LIMITED S 482149 22.31
12/5/2010 505893 Hindustan Hardy BHUPENDRA CHHAGANLAL LALSODAGAR S 7771 83.54
12/5/2010 524019 Hydro S&S Inds ALFA FISCAL SERVICES PVT LTD B 50100 72.79
12/5/2010 524019 Hydro S&S Inds INVENTURE GROWTH & SECURITIES LTD. B 36020 72.78
12/5/2010 524019 Hydro S&S Inds ALFA FISCAL SERVICES PVT LTD S 50100 72.83
12/5/2010 524019 Hydro S&S Inds INVENTURE GROWTH & SECURITIES LTD. S 37020 72.76
12/5/2010 524019 Hydro S&S Inds RAJESH AGARWAL S 45000 73.63
12/5/2010 533154 Infinite Comp Sol OPG SECURITIES P LTD B 225607 179.84
12/5/2010 533154 Infinite Comp Sol OPG SECURITIES P LTD S 225607 179.95
12/5/2010 514312 Jaihind Syn VIPULKUMAR VRAJLAL SUCHAK S 42000 6.06
12/5/2010 514312 Jaihind Syn DIPIKA HIRENBHAI MASHARU S 45000 6.06
12/5/2010 514312 Jaihind Syn RUPAL KRUTINKUMAR MASHARU S 45000 6.06
12/5/2010 519248 JVL Agro Inds AJAYA JAIN S 50000 230.00
12/5/2010 530255 KAY Power BAMPSL SECURITIES LTD B 92350 15.04
12/5/2010 530255 KAY Power BAMPSL SECURITIES LTD S 121232 14.22
12/5/2010 530255 KAY Power B.S.KHANDELWAL S 55000 15.25
12/5/2010 531692 Khyati Multi JAYDEEP KUMAR KHAITAN S 48530 1.56
12/5/2010 590111 MASTER SREE LAKSHMI MIKKILINENI B 62016 32.88
12/5/2010 590111 MASTER MEDEPUDI NAGENDRA BABU S 30006 33.08
12/5/2010 532045 Nexxoft Info SUSHEELA TIWARI B 42500 25.67
12/5/2010 532045 Nexxoft Info C GEETHA B 42334 24.00
12/5/2010 532045 Nexxoft Info SUSHEELA TIWARI S 42500 26.00
12/5/2010 532045 Nexxoft Info C GEETHA S 31574 26.14
12/5/2010 531496 Omkar Overseas SONI RADHEYMOHAN AGARWAL B 25000 64.00
12/5/2010 531496 Omkar Overseas BABULAL KOTECHA PANKAJ B 25000 64.04
12/5/2010 531496 Omkar Overseas NAVPAD TRADING COMPANY B 25000 63.70
12/5/2010 531496 Omkar Overseas SONI RADHEYMOHAN AGARWAL S 25000 64.10
12/5/2010 531496 Omkar Overseas RAJNIKANT RAMANBHAI JADAV S 41226 63.73
12/5/2010 512097 Oregon Comm VINODKUMAR BABUBHAI PATEL B 15000 270.87
12/5/2010 512097 Oregon Comm KRUNAL GOPALDAS RANA B 9455 270.08
12/5/2010 512097 Oregon Comm DHIRENKUMAR DHARAMDAS AGARWAL B 11000 270.14
12/5/2010 512097 Oregon Comm KRUPA SANJAY SONI B 61580 273.19
12/5/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI B 14200 281.46
12/5/2010 512097 Oregon Comm SONAL BHUPENDRABHAI KAMODIA B 14000 283.12
12/5/2010 512097 Oregon Comm NEHALBHAI PRATAPBHAI RATHOD B 5538 273.43
12/5/2010 512097 Oregon Comm NARESHCHAND JAIN B 6933 272.12
12/5/2010 512097 Oregon Comm KRUNAL GOPALDAS RANA B 12182 273.57
12/5/2010 512097 Oregon Comm DYNAMIC STOCK BROKING INDIA PVT LTD B 9592 273.81
12/5/2010 512097 Oregon Comm VINODKUMAR BABUBHAI PATEL S 15000 270.50
12/5/2010 512097 Oregon Comm YOGESHKUMAR OMPRAKASH AGARWAL S 5000 269.88
12/5/2010 512097 Oregon Comm KRUPA SANJAY SONI S 29196 275.96
12/5/2010 512097 Oregon Comm PANDURANG RAJARAM KULKARNI S 5000 270.00
12/5/2010 512097 Oregon Comm BHAVESH SHANTILAL TRIVEDI S 21290 272.09
12/5/2010 512097 Oregon Comm SANJAY JETHALAL SONI S 5481 270.93
12/5/2010 512097 Oregon Comm NEHALBHAI PRATAPBHAI RATHOD S 5538 273.07
12/5/2010 512097 Oregon Comm NARESHCHAND JAIN S 6933 273.56
12/5/2010 512097 Oregon Comm VIDHI HOLDINGS PVT LTD S 5000 282.51
12/5/2010 512097 Oregon Comm DYNAMIC STOCK BROKING INDIA PVT LTD S 7792 274.69
12/5/2010 512097 Oregon Comm JIGESHKUMAR AMRUTLAL HIRANI S 14000 283.08
12/5/2010 526492 Puneet Resins DHEERAJ KUMAR LOHIA S 41949 21.51
12/5/2010 500346 Punjab Comm JMP SECURITIES PVT LTD B 132959 89.21
12/5/2010 500346 Punjab Comm JMP SECURITIES PVT LTD S 102363 89.77
12/5/2010 517522 Rajratan Global SURBHI INVESTMENTS & TRADING COMPANY PRIVATE B 25000 214.98
12/5/2010 590077 Ranklin Sol PERLA T N V A R SUDARSAN B 43730 62.20
12/5/2010 512359 Rotam Comm KAPILABEN RASIKLAL PANDYA B 9022 69.00
12/5/2010 512359 Rotam Comm DARSHAN PRAFULCHANDRA TREVEDI S 10000 69.15
12/5/2010 512359 Rotam Comm RAMESHCHANDRA PRASHANT MAHICHA S 5000 65.02
12/5/2010 520075 Samkrg Pistons ASHOK CHINUBHAI SHAH B 101276 75.59
12/5/2010 520075 Samkrg Pistons SACHIN JAIN B 114000 77.36
12/5/2010 520075 Samkrg Pistons ASHOK CHINUBHAI SHAH S 77676 75.52
12/5/2010 520075 Samkrg Pistons SACHIN JAIN S 193185 76.69
12/5/2010 533056 SARK SYS GHANSHYAM AGARWAL B 50000 40.03
12/5/2010 524336 Shree Hari DHEERAJ KUMAR LOHIA B 24984 19.79
12/5/2010 531373 Suave Hotels SURGYAN MAKHANLAL CHIRANIA B 65000 44.16
12/5/2010 512449 SVC Res VIVEK KISHANPAL SAMANT B 150000 203.08
12/5/2010 533200 TALWALKAR GENUINE STOCK BROKERS PVT. LTD. B 652153 189.04
12/5/2010 533200 TALWALKAR SMART EQUITY BROKERS PRIVATE LIMITED B 704264 189.66
12/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 1247810 189.43
12/5/2010 533200 TALWALKAR BLUE PEACOCK SECURITIES PVT LT B 222097 186.14
12/5/2010 533200 TALWALKAR MARWADI SHARES AND FINANCE LTD. B 127188 188.13
12/5/2010 533200 TALWALKAR OPG SECURITIES P LTD B 1431321 188.94
12/5/2010 533200 TALWALKAR Naman Securities & Finance Pvt. Ltd. B 143792 187.13
12/5/2010 533200 TALWALKAR DEEPAK POPATLAL VORA B 163733 187.74
12/5/2010 533200 TALWALKAR GENUINE STOCK BROKERS PVT. LTD. S 652153 189.27
12/5/2010 533200 TALWALKAR SMART EQUITY BROKERS PRIVATE LIMITED S 704264 189.84
12/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 1247810 190.42
12/5/2010 533200 TALWALKAR DSP BLACKROCK MUTUAL FUND S 150000 187.77
12/5/2010 533200 TALWALKAR BLUE PEACOCK SECURITIES PVT LT S 213953 190.16
12/5/2010 533200 TALWALKAR MARWADI SHARES AND FINANCE LTD. S 127188 188.25
12/5/2010 533200 TALWALKAR OPG SECURITIES P LTD S 1431321 189.13
12/5/2010 533200 TALWALKAR Naman Securities & Finance Pvt. Ltd. S 216047 190.62
12/5/2010 533200 TALWALKAR DEEPAK POPATLAL VORA S 163733 187.80
12/5/2010 532372 Virinchi Tech VIKAS LAXMAN DEVAKAR B 94000 17.69
12/5/2010 531249 Well Pack Papers AMAR PREMCHAND WALMIKI B 400000 29.72
12/5/2010 531249 Well Pack Papers BHARATKUMAR BALDEVBHAI PARMAR B 448838 29.41
12/5/2010 531249 Well Pack Papers BHARATKUMAR BALDEVBHAI PARMAR S 448838 29.30
* B - Buy, S - Sell
NSE Bulk Deals to Watch - May 12 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
12-MAY-2010,AFL,Accel Frontline Limited,KANCHAN CHHABRA,BUY,234889,60.08,-
12-MAY-2010,AFL,Accel Frontline Limited,TRANSGLOBAL SECURITIES LTD.,BUY,110915,60.10,-
12-MAY-2010,AVAYAGCL,Avaya GlobalConnect Limit,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,73789,292.55,-
12-MAY-2010,BIRLAPOWER,Birla Power Solutions Ltd,EDELWEISS ESTATES P LTD,BUY,678425,2.70,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,BP FINTRADE PRIVATE LIMITED,BUY,170316,22.09,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,JMP SECURITIES PVT LTD,BUY,189470,22.56,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,369816,21.67,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,BUY,130312,19.64,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,BUY,1001565,21.44,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,BUY,245339,21.06,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,ALFA FISCAL SERVICES PVT LTD,BUY,59687,72.87,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,INVENTURE GROWTH & SECURITIES LIMITED,BUY,34197,72.47,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,SHANTILAL BACHHAWAT AND SONS,BUY,33876,72.14,-
12-MAY-2010,SPECTACLE,Spectacle Industries Ltd,ANKIT RAJENDRA SANCHANIYA,BUY,143897,123.44,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,BLUE PEACOCK SECURITIES PVT LT,BUY,216016,187.55,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,C D INTEGRATED SERVICES LTD.,BUY,154065,189.21,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CPR CAPITAL SERVICES LTD.,BUY,192541,190.85,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,1248895,190.22,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DINESH MUNJAL(HUF),BUY,299190,189.63,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,146923,188.43,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,G RAMAKRISHNA,BUY,142660,190.19,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,957276,188.59,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,211005,191.95,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,269381,190.55,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,212810,187.42,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,208660,191.17,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NEPTUNE FINCOT PVT LTD,BUY,127189,189.73,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,OM INVESTMENTS,BUY,488306,189.08,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R APPALA RAJU,BUY,149000,188.67,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,SARAVANA STOCKS PRIVATE LIMITED,BUY,226284,185.62,-
12-MAY-2010,AFL,Accel Frontline Limited,KANCHAN CHHABRA,SELL,241070,58.55,-
12-MAY-2010,AFL,Accel Frontline Limited,TRANSGLOBAL SECURITIES LTD.,SELL,112915,60.55,-
12-MAY-2010,AVAYAGCL,Avaya GlobalConnect Limit,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,72733,292.14,-
12-MAY-2010,BIRLAPOWER,Birla Power Solutions Ltd,EDELWEISS ESTATES P LTD,SELL,4766181,2.75,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,BP FINTRADE PRIVATE LIMITED,SELL,168915,22.19,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,JMP SECURITIES PVT LTD,SELL,189460,22.34,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,374018,21.29,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,SELL,131246,19.76,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,SELL,347586,22.39,-
12-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,SELL,245369,21.17,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,ALFA FISCAL SERVICES PVT LTD,SELL,59687,72.92,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,INVENTURE GROWTH & SECURITIES LIMITED,SELL,33157,72.71,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,MACHINO FINANCE PRIVATE LIMITED,SELL,136500,72.43,-
12-MAY-2010,HYDROS&S,Hydro S & S Ind. Ltd,SHANTILAL BACHHAWAT AND SONS,SELL,33876,72.80,-
12-MAY-2010,SPECTACLE,Spectacle Industries Ltd,ANKIT RAJENDRA SANCHANIYA,SELL,281555,124.72,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,BLUE PEACOCK SECURITIES PVT LT,SELL,216016,190.77,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,C D INTEGRATED SERVICES LTD.,SELL,154065,189.50,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CPR CAPITAL SERVICES LTD.,SELL,192541,190.96,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,1248895,189.42,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DINESH MUNJAL(HUF),SELL,299190,190.31,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,157608,190.16,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,G RAMAKRISHNA,SELL,142660,191.41,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,957276,188.57,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,216005,192.40,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,269381,190.87,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,210907,187.49,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,222217,191.79,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,NEPTUNE FINCOT PVT LTD,SELL,127935,190.14,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,OM INVESTMENTS,SELL,488306,189.17,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,R APPALA RAJU,SELL,149000,190.42,-
12-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,SARAVANA STOCKS PRIVATE LIMITED,SELL,351284,193.07,-
Asian stocks mixed in middle of week
Investors still worried whether $1 trillion package will be sufficient for solving problems across Europe
Asian markets were mixed today on worries whether the $1 trillion package will be sufficient for solving problems across Europe. Frail overnight US cues and continued firm undertone in the US dollar in the early Asian moves hurt the sentiments. However, select markets fought their way out as the dollar fell towards the start of the London trades and bargain buying took the centrestage.
The Australian market ended on a positive note, as traders evinced fresh buying interest in select stocks at lower levels after the markets witnessed sharp decline in the past few trading sessions. Gold related stocks led the gains as bullion prices soared to fresh all time highs above $1240 an ounce. The benchmark S&P/ASX200 Index advanced 25.00 points, or 0.55% to 4,573, while the All-Ordinaries Index ended at 4,600, representing a gain of 26.50 points, or 0.58%.
On economic front, a report released by the Department of Education, Employment and Workplace Relations revealed that the country's leading employment index improved in May after declining for four consecutive months. As per the report, the leading employment index rose to minus 1.029 in May from minus 1.129 in April.
The Australian Office of Financial Management stated that the Treasury Bond issuance in 2010-11 is expected to be around A$56 billion. After accounting for maturities of A$18.8 billion, this represents a net growth of A$37 billion in the face value amount of Treasury Bonds on issue.
Stocks in Japan ended slightly lower though with the Nikkei 225 index closing down 0.16% at 10,394. Enthusiasm for corporate earnings began to wane in the wake of some less-than-impressive business forecasts from Toyota Motor. The giant automaker reported a net profit of Y209.46 billion and an operating profit of Y147.52 billion for the just-ended fiscal year- below market consensus.
Stocks in China ended higher as some bargain buying emerged after the market fell to fresh one year low earlier in the day. The banks and property companies managed a modest rebound after flurry of losses in the last few days even as renewed policy-tightening concerns and worries over Europe's debt crisis weighed on sentiment. The Shanghai Composite Index ended the day at 2,655.7 after twice dipping near the watershed mark of 2,600 points.
In Mumbai, The key benchmarks pared gains in late trade as US index futures fell. Interest rate sensitive banking and realty stocks rose as lower-than-expected growth in industrial production in March 2010 helped ease rate-hike worries. Index heavyweight Reliance Industries (RIL) edged higher. The BSE 30-share Sensex was provisionally up 38.58 points or 0.23%, up close to 155 points from the day's low and off close to 70 points from the day's high. The market breadth was weak
Telecom stocks extended losses for the second straight day after the telecom regulator suggested telecom firms to pay a one-time fee for holding radio-spectrum beyond 6.2 mega hertz (MHz) based on 3G prices. Bharti Airtel was down close to 8%. Two-wheeler major Bajaj Auto rose, reversing initial losses after robust Q4 results.
In other markets, the Hang Seng added 0.33%, Straits Times gained 0.79% while the Taiwanese stocks shed 0.08%.
In the U.S., stocks ended Tuesday's session on a mixed note, as a second look at the European bailout plan prompted a split reaction in the marketplace amid an otherwise light day on the economic front. The major averages ended on opposite sides of the unchanged mark after spiking up off of their lows in the previous session. The Nasdaq inched up by 0.64 points or less than a tenth of a percent to 2,375, while the Dow fell by 36.88 points or 0.3% to 10,748 and the S&P 500 slipped by 3.94 points or 0.3% to 1,156.
Dollar was mixed today, appreciating near 1.2600 initially and then slipping above 1.2700. Crude oil trades sideways with a rally above $76 facing tough resistance at $76.81 mark. Light sweet crude oil futures for June delivery trade at $76.66 a barrel in electronic trading, up 29 per barrel from previous close at $76.37 a barrel in New York on Tuesday.
Gains in RIL, bank stocks help offset sell-off in telecom shares
The key benchmarks eked out small gains in volatile trade on higher European stocks and recovery in US index futures. Interest rate sensitive banking and realty stocks rose as lower-than-expected growth in industrial production in March 2010 helped ease rate-hike worries. Index heavyweight Reliance Industries (RIL) edged higher. The BSE 30-share Sensex rose 54.28 points or 0.32%, up close to 170 points from the day's low and off close to 55 points from the day's high. The market breadth was weak.
Telecom stocks extended losses for the second straight day after the telecom regulator suggested telecom firms to pay a one-time fee for holding radio-spectrum beyond 6.2 mega hertz (MHz) based on 3G prices. Bharti Airtel was down more than 8%. Two-wheeler major Bajaj Auto rose, reversing initial losses after robust Q4 results.
Volatility was immense. The market pared gains after a firm start. The market soon regained strength with the Sensex hitting a fresh intraday high in early trade. The market once again came off the higher level later. The Sensex slipped into the red in morning trade. The market hovered between the positive and negative terrain in mid-morning trade. The market hit a fresh intraday low in afternoon trade weighed by data showing lower-than-expected growth in industrial production in March 2010.
The market once again moved into positive zone in afternoon trade led by gains Reliance Industries. The market surged to a fresh intraday high in mid-afternoon trade as European stocks rose. The market pared gains in late trade as US index futures fell in volatile trade.
NSE's volatility index India VIX was almost unchanged at 25.82. The index, a measure of traders' perception of near-term risks in the market based on options prices, had risen 6.92% to 25.81 on Tuesday, 11 May 2010. India VIX is calculated based on the S&P CNX Nifty options prices. India VIX is a gauge of the market's expectation of volatility over the next 30 calendar days.
The Reserve Bank of India governor D Subbarao on Tuesday, 11 May 2010, said India prefers long-term capital inflows to short-term flows and non-debt flows to debt flows. There is no proposal to impose a Tobin type tax to rein in excessive capital inflows, the RBI governor said in a speech delivered at a conference in Zurich on Tuesday. However, it needs reiterating that no policy instrument is clearly off the table and the choice of instruments will be determined by the context, Subbarao added.
Meanwhile, the latest economic data showed industrial output rose lower than expected 13.5% in March 2010. Manufacturing sector output rose 14.3% in March 2010. Industrial output rose 10.4% in the 2009/10 fiscal year, faster than the 2.6% growth clocked in the previous fiscal year.
European equities turned positive on Wednesday, with financials gaining after early losses on strong banking results and tough austerity measures announced by debt ridden Spain. The key benchmark indices in UK, France and Germany were up by 0.22% to 1.63%.
Gross domestic product in the 16-nation euro zone rose by 0.2% the first quarter of 2010 compared to the final three months of 2009. Compared to the first quarter of last year, GDP was up 0.5%.
Late on Tuesday night Conservative Party under Prime Minister David Cameron sealed a deal to form a new coalition government in UK with the Liberal Democrats.
Asian stocks were mixed after a firm start as investors remained concerned about the global economy's outlook despite a massive rescue package to combat the European debt crisis. The key benchmark indices in Japan, Taiwan and South Korea fell by between 0.08% to 0.43%. But, key benchmark indices in China, Indonesia, Hong Kong, Singapore rose by between 0.31% to 1.23%.
South Korea's central bank left its policy interest rate unchanged Wednesday at a record-low 2%, as expected, and said it foresees continued growth in the nation's economy but also warned of uncertainty due to sovereign-debt concerns in Europe.
US index futures edged higher in volatile trade. Trading in US index futures indicated that the Dow could rise 25 points at the opening bell on Wednesday, 12 May 2010.
US stocks declined in a volatile session on Tuesday as fears that a $1 trillion bailout for Europe won't solve the region's deep-seated problems blunted an improving US economic picture. The Dow Jones Industrial Average dropped 36.88 points, or 0.34% to 10,748.26. The Standard & Poor's 500 Index fell 3.94 points, or 0.34% to 1,155.79. But, the Nasdaq Composite Index gained 0.64 points, or 0.03% to 2,375.31.
Back home, the fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1543 companies rose 37.5% to Rs 46092 crore on 29.4% rise in sales to Rs 427460 crore in the quarter ended March 2010 over the quarter ended March 2009.
On the macro front, 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.
On Friday, 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%. 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.
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 rose 54.28 points or 0.32% to 17,195.81. The Sensex fell 113.45 points at the day's low of 17,028.08 in early afternoon trade. The index rose 110.99 points at the day's high of 17,252.52 in mid-afternoon trade.
The S&P CNX Nifty rose 20.50 points or 0.4% to 5156.65 as per provisional figures.
The BSE Mid-Cap index rose 0.07%. The BSE Small-Cap index fell 0.34%. Both the indices underperformed Sensex.
Sectoral indices on BSE were mixed. BSE Healthcare index (up 1.61%), FMCG index (up 1.45%), banking sector index Bankex (up 0.95%), Consumer Durables index (up 0.93%), Oil & Gas index (up 0.88%), IT index (up 0.69%), Realty index (up 0.6%), and PSU index (up 0.38%), outperformed the Sensex. Metal index (up 0.27%), Auto index (down 0.07%), and Power index (down 0.35%), underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. The breadth was strong in early trade. On BSE, 1688 shares declined as compared to 1210 shares that advanced. A total of 81 shares remained unchanged.
Among the 30-share Sensex pack, 19 rose while the rest declined.
BSE clocked turnover of Rs 3814 crore, lower than Rs 4219.16 crore on Tuesday, 11 May 2010.
Index heavyweight Reliance Industries (RIL) rose 1.39% to Rs 1082. The stock jumped off the day's low of Rs 1063.10. The stock had surged recently after a favourable ruling in the Supreme Court late last week on gas dispute with Anil Ambani controlled Reliance Natural Resources (RNRL). 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.
Realty stocks rose as lower than expected growth in industrial production in March 2010 helped ease rate-hike worries. Sobha Developers, HDIL, DLF, Indiabulls Real Estate, Phoenix Mills and Unitech rose by between 0.57% to 2.92%.
Telecom stocks extended Tuesday's sharp fall after the telecom regulator suggested telecom firms to pay a one-time fee for holding radio-spectrum beyond 6.2 mega hertz (MHz) based on 3G prices. India's largest cellular services provider by sales Bharti Airtel fell 8.29%, extending Tuesday's 3.11% losses. The stock was the top loser from Sensex pack.
Bharti Airtel, on Wednesday said the telecoms regulator's proposals on allocation of second-generation (2G) spectrum are shocking, arbitrary and retrograde and are against all existing global norms for spectrum allocation. The company said it was confident that the Department of Telecommunications (DoT) and that the government will take a rational approach and summarily reject these arbitrary, impractical and perverse recommendations.
Idea Cellular declined 8.21%, extending Tuesday's 5.31% losses. India's second largest listed cellular services provider by sales Reliance Communications was flat.
The telecom regulator on Tuesday also recommended ending restrictions on telecoms firms selling out, a move which will help consolidation in the world's fastest growing telecoms market. The current rules restrict telecom firms from selling majority stakes within three years of getting license.
Interest rate sensitive banking shares rose as slower than expected growth in industrial production in March 2010 helped ease rate-hike worries. India's biggest commercial bank in terms of branch network State Bank of India rose 1.62%. India's second largest private sector bank by net profit HDFC Bank rose 1.1%, with the stock gaining for the second straight day.
But, India's largest private sector bank by net profit ICICI Bank fell 0.13% to Rs 914.80 in volatile trade. The stock hit a high of Rs 922.20 and a low of Rs 906.30.
India's largest mortgage lender by total income Housing Development Finance Corporation rose 0.19%. The company's board on 3 May 2010 approved a 5-for-1 stock-split.
FMCG shares rose on defensive buying. Marico, United Spirits, Hindustan Unilever and ITC rose by between 0.23% to 2.32%.
Cipla rose 0.51% on bargain hunting after a steep slide over the past two trading sessions triggered by disappointing Q4 March 2010 results. 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.
Among other pharma stocks, Pfizer, Dr Reddy's Laboratories and Sun Pharmaceutical Industries rose by between 0.21% to 5.53%.
Ranbaxy Laboratories rose 0.21%, with the stock gaining for the second straight day on strong Q1 result. The company reported consolidated net profit of Rs 960.58 crore in Q1 March 2010 compared to a net loss of Rs 767.33 crore in Q1 March 2009. The company announced the result during market hours on Tuesday.
Metal stocks fell after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 1.55% on Tuesday, 11 May 2010. Hindustan Zinc, Jindal Steel & Power, Sterlite Industries, National Aluminum Company fell by between 0.1% to 0.75%.
But, some metal and mining stocks reversed early losses. Tata Steel, Jindal Saw, Hindalco Industries, Steel Authority of India, Sesa Goa, JSW Steel rose by between 0.18% to 2.58%.
Auto shares were mixed. India's largest small car maker by sales Maruti Suzuki India fell 0.21%. 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 0.41%, reversing initial losses. 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 fell 2.6% on profit taking after a two-day rally.
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.
Bajaj Auto rose 1.02%, reversing initial losses. Net profit surged 306% to Rs 528.65 crore in Q4 March 2010 over Q4 March 2009.The company announced result during market hours today.
IT pivotals rose on bargain hunting after recent slide triggered by uncertainty over euro-zone countries' ability to reduce their deficits. Europe is the second largest market for Indian IT firms. India's third largest software services exporter Wipro rose 1.73%. India's second largest software services exporter Infosys rose 0.68%. India's largest software services exporter TCS rose 0.42%.
India's largest engineering and construction firm by sales Larsen & Toubro rose 0.98% after company's water technology business unit won an order worth Rs 850 crore in Doha, Qatar for advanced waste water treatment and urban reuse.
Cals Refineries clocked the highest volume of 1.81 crore shares on BSE. Talwalkars Better Value Fitness (1.35 crore shares), Reliance Natural Resources (97.05 lakh shares), Glory Polifilms (91.84 lakh shares) and Birla Power Solutions (76.92 lakh shares) were the other volume toppers in that order.
Talwalkars Better Value Fitness clocked the highest turnover of Rs 247.87 crore on BSE. Tata Steel (Rs 117.37 crore), State Bank of India (105.26 crore), Bharti Airtel (Rs 99.70 crore) and Reliance Industries (Rs 84.54 crore) were the other turnover toppers in that order.
Daily Grey Market Premiums - May 12 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| 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 | 3 to 3.50 |
| Jaypee Infra | 102 | Discount |
Daily News Roundup- May 12 2010
BSNL, Bharti Airtel, Vodafone-Essar, Aircel, MTNL and Idea Cellular might have to fork out over Rs112bn for having spectrum beyond 6.2MHz, if the government accepts the TRAI’s recommendations. (BS)
Fitch Ratings on Tuesday has affirmed the foreign currency issuer default rating (IDR) of 'BB+' and the national long-term rating of ‘AA (Ind)’ of Tata Steel. (FE)
Concerned over the delay in getting clearance from the Centre for its IT SEZ in Chennai, DLF has decided to pull out of the project. (ET)
Alstom Group said that it has expanded its strategic partnership with Infosys Technologies in areas of global R&D, engineering and engineering IT services. (ET)
The Water Technology Business Unit of L&T secured Rs8.5bn contract from the Public Works Authority of Qatar for setting up an advanced waste water treatment and urban reuse plant. (BL)
Godrej Consumer Products is in talks with a clutch of private equity investors to raise US$125mn. (ET)
Dalmia Cement plans to acquire a sugar mill and is in talks with two companies in Karnataka and Andhra Pradesh. (ET)
GMR Energy, a subsidiary of GMR Infra, plans to raise US$100mn from IDFC Private Equity in the next few weeks. (BS)
YES Bank plans to enter the home, personal & education loan and credit cards businesses soon. (BS)
Telecom conglomerate BT may wait for Tech Mahindra to merge with Mahindra Satyam before it offloads a large portion of its stake in the Mumbai headquartered company. (BL)
As part of Ranbaxy Laboratories Daiichi Sankyo’s proposed three-year plan for exploiting synergies, the Japanese company has set up a new firm, Daiichi Sankyo Espha Company (DSECL), for marketing generic drugs in Japan. (ET)
Glenmark Pharmaceuticals said it had settled a patent litigation with Merck & Co over its cholesterol-lowering generic drug 'Ezetimibe', following which it can sell the medicine in the US market. (BS)
Zydus Cadila and Abbott entered into an agreement where the latter will licence 24 branded generics of Zydus products in 15 emerging markets. (BL)
Jubilant Organosys plans to expand its contract research and manufacturing services business by 20% for which it is in talks with global players. (BL)
Trent, a retail chain of Tata Group will raise Rs5bn through a rights issue. (FE)
Srei Venture Capital Ltd, a wholly owned subsidiary of Srei Infrastructure Finance, plans to launch a US$500mn international infrastructure fund. (BS)
Era Infra Engineering bagged an order worth Rs17.2bn from NHAI. (FE)
ABG Shipyard sold 0.8mn shares or 2.15% of equity in Great Offshore for Rs369mn. (FE)
French retailer Carrefour SA plans to open its first wholesale store in New Delhi soon. (BL)
The TRAI recommended that the existing GSM players be asked to pay a one time fee, which will be calculated on a pro-rata basis on the final bid amount received in the ongoing auctions for 3G spectrum, for their 2G spectrum beyond 6.2Mhz. (BL)
The tractor manufacturers in the Delhi region are in trouble due to non-availability of tyres and rising input costs. (BS)
MET expects that the South-West monsoon over Kerala coast may not take place until May 21, but can follow immediately thereafter. (BL)
The Cabinet Secretary is slated to chair a high-level meeting on May 25 to deliberate on implementing recommendations of a Planning Commission-led panel on ways to provide a level playing field for domestic equipment manufacturers. (BL)
RBI has allowed infrastructure finance companies to raise funds through ECBs without obtaining its prior approval. (BL)
The government will soon set up an inter-ministerial task force to rationalise coal sourcing so as to help key consumers in the power, steel and cement sectors optimise transportation costs. (ET)
Public sector companies will not be allowed to use natural resources, such as mineral reserves, at the cost of sustainable development. (ET)
Day 27 of the 3G auctions saw one provisional bid amount for pan-India spectrum at Rs140bn. (FE)
No respite from global jitters
Certainty is the mother of quiet and repose, and uncertainty the cause of variance and contentions. - Edward Coke.
Uncertainty continues to haunt global markets despite multi-billion-euro bailout for the troubled euro-zone nations. What’s worse, volatility has shot up as risk aversion remains elevated. Gold and the Dollar are attracting safe haven buying while risky assets like stocks and commodities are under pressure. Aside from the European debt crisis, markets are also worried about possible overheating in China. In short, things are not looking bright as of now and the prospects for global equities may take a while to revive.
Today we expect a slightly positive start but early gains may not sustain and the key indices will remain sluggish within a tight range. The NSE Nifty will continue to meet resistance at 5200 and beyond that, at 5300. On the way down, support is placed at around 5115. A bigger selloff could even take the Nifty below 5000. Telecom stocks may fall further on TRAI recommendations and aggressive 3G bids. March IIP data will be out today and is likely to show ~15% growth. Monthly inflation will be released on May 14.
Rural Electrification Corp. Ltd. (REC) has been added to the MSCI Emerging Markets Index. According to reports, Adani Enterprise and Piramal Healthcare have also been included in the widely tracked index. Reports also suggest that HDIL and Suzlon have been added by MSCI while Power Grid and Glenmark Pharma have been removed.
Results Today: Bajaj Auto, Bajaj Holdings, Blue Star, DB Realty, Dewan Housing, Hathway Cable, Infinite Computers, MRPL, Thermax and Welspun India.
FIIs were net buyers of Rs201.9mn in the cash segment on Tuesday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs224.9mn. In the F&O segment, the foreign funds were net buyers of Rs19.74bn. FIIs were net buyers of Rs6.97bn in the cash segment on Monday, as per the SEBI data. Mutual Funds were net buyers of Rs1.23bn in the cash segment on the same day.
US stocks erased early gains to end mostly lower on Tuesday, losing steam late in a volatile session, as investors turned cautious a day after giving a thumbs-up to Europe's nearly $1 trillion aid package. We could see a short-term trading range as investors adjust to a period of increased volatility.
After rising nearly 90 points, the Dow Jones Industrial Average ended down 36.88 points at 10,748.26. The tech-heavy Nasdaq Composite Index bucked the trend, climbing 0.6 points to 2,375.31. The S&P 500 Index fell 3.94 points, or 0.3%, to 1,155.79.
Utilities led sector gains among the S&P 500 index's 10 industry groups.
Advancers still topped declining issues by 17 to 13 on the New York Mercantile Exchange, where more than 1.4 billion shares traded. Composite volume topped 6.0 billion.
Stocks lost steam in the last hour of trade as enthusiasm waned over the EU's nearly $1 trillion rescue plan to back debt-strapped countries. However, the worries of the last few weeks pushed investors into safe-haven areas such as the US dollar and gold.
US stocks rallied on Monday, joining stocks around the globe, after European leaders approved an almost $1 trillion rescue package aimed at containing the growing debt crisis and stabilizing the euro. The Dow gained 405 points, its biggest gain since March 23, 2009.
But the euphoria ran out of gas amid questions about whether the bailout package will work if Greece and other debt-plagued nations don't make other efforts to cut their growing deficits. Markets around the world slipped after Monday's big gains.
The bailout agreement offered reassurances that the common European currency would survive and the 16 nations that use the euro would be able to get loans. But the nations including Greece will also have to slash spending, possibly slowing Europe's recovery.
Greece requested $18.4 billion in funds from the European Union (EU) and is due to receive $7 billion from the International Monetary Fund (IMF) on Wednesday. In total, the nation is requesting access to around $25 billion of the over $140 billion the EU and IMF have pledged in support.
The funds mean Greece will be able to meet the May 19 deadline to pay back roughly $11 billion in debt.
The CBOE Volatility index, or the VIX, slipped 2% in choppy trading, reflecting the mixed market. On Monday, the VIX slipped around 30%, reflecting a lessening of worries following last week's selloff.
During last week's sell off, culminating in the one-two punch of Thursday's "flash crash" and Friday's follow-up, the VIX rallied to 13-month highs as investors grew more panicky.
The dollar was barely changed versus the euro. On Monday, the euro bounced versus the dollar after hitting 14-month lows against the US currency during last week's big stock selloff. The dollar was barely changed versus the yen.
US light crude oil for June delivery settled down 43 cents to $76.37 a barrel on the New York Mercantile Exchange.
Treasury prices fell, pushing the yield on the 10-year note to 3.56% from 3.54% late on Monday.
The Commerce Department reported that wholesale inventories rose 0.4% in March, after climbing 0.6% in February. Economists thought inventories would increase by 0.5%.
The House Financial Services Subcommittee on Capital Markets was discussing last Thursday's stock market roller-coaster ride, in which a 350-point loss on the Dow became a nearly 1,000-point loss in under 10 minutes. The intraday selloff was the biggest on a point basis in market history.
Executives from the nation's largest stock exchanges and the chairwoman of the SEC were expected to tell Congress that the ultimate cause of the crash remains a mystery.
SEC chairwoman Mary Schapiro said regulators need more time to figure out what exactly happened. She said they had ruled out computer hacking, a terrorist attack or any malicious intent having driven the selling.
In addition, regulators and exchanges have reportedly firmed up plans to institute "circuit breakers" on individual stocks in an attempt to prevent a repeat of last week's incident.
After the close of trade, Walt Disney reported quarterly earnings and revenues that topped expectations.
European shares erased some of Monday's outsized gains as banks and miners came under pressure amid worries about prospects for economic growth from Europe to China. The Stoxx Europe 600 index slipped 0.4% to 253.18, though earlier in the session it lost as much as 2%.
On Monday the index soared 7.2% in a relief rally sparked by news of a EU-IMF €750 billion loan program as well as by the European Central Bank's move to buy government bonds. Bank shares enjoyed big gains in Monday's rally.
The UK's FTSE 100 index was down 1% to 5,334.21, the French CAC-40 index shed 0.7% at 3,693.20. The German DAX index, however, rose 0.3% to 6,037.71, helped by a good performance from auto makers and stronger-than-expected results at Deutsche Post.
Among the smaller benchmarks, the Greek ASE Composite index fell 2.5% to 1,735.29, the Portugal PSI 20 index lost 2.2% to 7,174.10 and the Spanish Ibex 35 dropped 3.4% to 9,995.40.
Equity markets in India ended in the red on Tuesday, as doubts emerged over the unprecedented debt relief for the troubled euro-zone nations. Also, strong set of economic data in China amplified concerns of further monetary tightening in the Middle Kingdom.
In the process, "the 500-plus-point rally of Monday seemed to lose some of the steam. Market players preferred to book some profits at higher levels. Realty, Metal and Pharma stocks were among the major laggards. Even the second rung stocks were under pressure", says Amar Ambani, Vice President Research IIFL.
Finally, BSE Sensex fell 189 points to end at 17,141 and NSE Nifty lost 57 points to close at 5,136. Among the 30 components of Sensex, 27 ended in the negative terrain and only HDFC Bank, M&M and Hero Honda ended in the green.
Markets in Asia ended in the negative terrain; the Nikkei in Japan lost 1.2%, Australia's S&P/ASX was down 1.2%, the Hang Seng index in Hong Kong fell 1.4% and Shanghai SE Composite was down 0.3%.
On the other hand, European indices were trading with negative bias as well, the DAX in Germany was down 1.2%, the CAC 40 index in France was down 2.1% and the FTSE in the UK fell 1.8%.
All the BSE sectoral indices ended in the red, the BSE Metal index was top loser; the index lost 3%, followed by BSE Realty index was down 2.8% and BSE Pharma index was down 2%. Even the Mid-Cap index was down 1% and the Small-cap index fell 1%.
Outside the frontline indices, the big losers in the broader market were Piramal Healthcare, Renuka Sugars, Bhushan Steel and Shriram Transport. On the other hand, gainers included Petronet LNG, RCF, Chambal Fert and Godrej Consumers.
Shares of Fortis Healthcare erased early gains and ended lower by 1.5% at Rs164. According to reports the company plans to raise as much as Rs3.8bn selling 22.4mn shares to GIC Special Investments Pte. The scrip opened at Rs169.8 it touched an intra-day high of Rs171 and a low of Rs164 and recorded volumes of over 1.1mn shares on BSE.
Shares of Glenmark Pharma ended lower by 1.7% to end at Rs272. According to reports Merck & Co. agreed to let Glenmark sell a generic version of the cholesterol medicine Zetia in the U.S. by December 2016 as part of a settlement of a patent-infringement lawsuit. The scrip opened at Rs283 it touched an intra-day high of Rs285 and a low of Rs272 and recorded volumes of over 0.21mn shares on BSE.
Era Infra announced that in association with OJSC-SIBMOST has bagged the prestigious order from NHAI for an estimated cost of Rs17.23bn for "4-Laning of Bareilly-Sitapur Section of NH-24 from KM 262.000 to 413.200 in the State of Uttar Pradesh under NHDP Phase III on Design, Build, Finance, Operate and Transfer ("DBFOT") Toll Basis.
Shares of Era Infra erased slipped 1.1% to end at Rs216. The stock hit an intra-day high of Rs222 after the order was announced it had earlier hit an intra-day low of Rs215. Total traded quantity over the counter was 0.3mn shares on BSE.
Shares of Hindustan Zinc slipped marginally by 0.5% to end at Rs1114. According to reports, Vedanta Resources through its subsidiary Hindustan Zinc has acquired UK-based Anglo American Plc’s zinc business for US$1.34bn in an all-cash deal.
ABG Shipyard sold ~0.8mn equity shares or 2.15% of equity in Great Offshore for Rs369.4mn. ABG's stake in Great Offshore has come down to 7.35% from 9.5% following the transaction.
Shares of ABG Shipyard ended lower by 1.7% to Rs247. The scrip opened at Rs254 it touched an intra-day high of Rs256 and a low of Rs247 and recorded volumes of over 99,000 shares on BSE.
Flat to positive start likely, IIP nos eyed
Headlines for the day:
New 2G norms to make Govt richer by Rs11,200 cr
GMR Energy to raise Rs450 cr from IDFC Private Equity
Tata Power firm on Mumbai refusal, formal reply on Wednesday
Events for the day:
Major corporate action
IIP numbers to be announced today
Ex-date for dividend of Kansai Nerolac, Allcargo Global
Results: Bajaj Auto, Bajaj Holdings, Thermax
For more events, log on to Sharekhan.com
Pre-market report
Global signals
The European shares slipped on Tuesday, led lower by banks, over doubts the massive rescue plan which boosted stocks in the previous session was a long-term solution and whether Greece can deliver budget deficit cuts.
The Dow and the S&P 500 fell in a volatile session on Tuesday as fears that a $1 trillion bailout for Europe won't solve the region's deep-seated problems blunted an improving U.S. economic picture.
In today's trade, the Asian markets were trading in a mixed note. At the time of writing this report, SGX Nifty was trading 13.5 points higher.
Indian markets
As global markets moved from euphoria over the $1 trillion European Union rescue package, to concern about the problems that still remain in Europe. The concerns about whether European governments are prepared to implement harsh austerity measures, and whether the package is merely a short-term fix, pushed US and European stocks lower after they posted their biggest one-day gain in a year on Monday.
The Asian were trading in a mixed note after an overnight fall on Wall Street as sentiment turned upbeat on easing worries about the eurozone's debt crisis. Taking the lead from the mixed Asian cues and worries across the globe, the Indian markets are set for a cautious start with a flat to positive note.
With the index of industrial production (IIP) numbers to be out today and is expected to be robust, the market participants will be closely eying the announcement of this data and the market is expected to remain volatile.
Monthly inflation figures will be announced later in the week. The monsoon will be a key variable over the next few weeks and even months, which will give the direction to the markets.
The earnings of Bajaj Auto, Bajaj Holdings, Thermax and Mangalore Refinery & Petrochemicals are later to be announced today — the stocks will be closely eyed by the investors.
Commodity cues
In the commodity space, the crude oil prices slipped on Tuesday, with the Nymex light crude oil for the June series down by $0.43 per barrel, whereas in the metals space, the Comex Gold for the June series rose by $19.50 and the Comex Silver for the June series was increased by $0.74 to a troy ounce respectively.
Daily trend of FII/MF investment in equities
On May 11, 2010, the foreign institutional investors (FIIs) were the net buyers of the Indian stocks to the tune of Rs697.40 crore, whereas the domestic mutual funds, on May 10, 2010, were the net buyers of the stocks to the tune of Rs123.50 crore.
Highest ever closing for gold at Comex
Prices shoot up as traders mull over euro zone debt solution
Precious metals ended substantially higher on Tuesday, 11 May at Comex. Long-term implications of the European Union's rescue package and its impact on the currencies, specially on the euro, bothered investors and lured investors into safe-haven assets such as gold.
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 Tuesday, gold for June delivery ended at $1,220.3 an ounce, higher by $19.5 (1.6%) an ounce on the New York Mercantile Exchange. It was the highest ever closing for gold at Comex. It rose to a high of $1,225.3 during intra day trading. Gold for June delivery had 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. On 3 December 2009, gold had touched an all time intra day high of $1,226.4.
Last 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 11%.
On Tuesday, July Comex silver futures ended higher by 74 cents (4.2%) at $19.29 an ounce. Earlier, prices reached a high of $19.365. Last 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 11%.
A decision by the European Union and International Monetary Fund leaders to pledge financial support to the eurozone brought about a wave of buying and short covering that caused the stock markets across globe to surge in its best single-session percentage gain in more than a year yesterday. As per plan, countries in the eurozone that face financial uncertainty will be eligible to receive some 500 billion euros from the EU and another 250 billion euros from the IMF. In addition to those measures, the European Central Bank will buy eurozone bonds from the secondary market and the Federal Reserve has reactivated swap lines with foreign institutions. At least for the time being, those efforts have eased contagion concerns that have surrounded Greece for weeks.
But traders mulled over the fact today that in the long term how much financial aid will be pledged for eurozone countries that face tenuous fiscal conditions and also the issue of how those funds will be allocated efficiently and whether recipients can remedy their underlying problems. The long term implication of this on the euro also bothered investors.
In the currency market today, the euro dropped 0.9% against the dollar. The euro has slipped 11% against the dollar this year.
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 higher by Rs 299 (1.7%) at Rs 17,897 per ten grams. Prices rose to a high of Rs 18,040 per 10 grams and fell to a low of Rs 17,650 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 1,032 (3.6%) higher at Rs 29,498/Kg. Prices opened at Rs 28,424/kg and rose to a high of Rs 29,595/Kg during the day's trading.
Crude sheds gains
Prices drop on demand concerns
Crude oil pared early gains and ended lower at Nymex on Tuesday, 11 May 2010. Long-term implications of the European Union's rescue package and its impact on the currencies, specially on the euro, bothered investors and raised question about global demand for oil in coming months. Agencies increasing their forecast for global oil demand perhaps restricted crude's losses.
On Tuesday, crude-oil futures for light sweet crude for June delivery closed at $76.37/barrel (lower by $0.43 or 0.6%). Prices hit a high of $77 during intra day trading. 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 higher by 1.7%.
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 144% from a December 2008 nadir. That day prices settled at $33.87 a barrel following an intraday low of $32.40.
A decision by the European Union and International Monetary Fund leaders to pledge financial support to the eurozone brought about a wave of buying and short covering that caused the stock markets across globe to surge in its best single-session percentage gain in more than a year yesterday. As per plan, countries in the eurozone that face financial uncertainty will be eligible to receive some 500 billion euros from the EU and another 250 billion euros from the IMF. In addition to those measures, the European Central Bank will buy eurozone bonds from the secondary market and the Federal Reserve has reactivated swap lines with foreign institutions. At least for the time being, those efforts have eased contagion concerns that have surrounded Greece for weeks.
But traders mulled over the fact today that in the long term how much financial aid will be pledged for eurozone countries that face tenuous fiscal conditions and also the issue of how those funds will be allocated efficiently and whether recipients can remedy their underlying problems. The long term implication of this on the euro also bothered investors.
In the currency market today, the euro dropped 0.9% against the dollar. The dollar index, which measures the strength of the dollar against a basket of six currencies, rose by 0.4% today. The euro has slipped 11% against the dollar this year.
Also on Tuesday, the U.S. Energy Information Agency raised its outlook for global oil demand to 1.6 million barrels per day in 2010, slightly higher than the 1.5 million barrels-a-day projection made last month. The EIA will release its more closely watched data on inventories at 10:30 a.m. on Wednesday.
Separately, The Organization of the Petroleum Exporting Countries also said on Tuesday it was raising its estimate for global oil demand for 2010. OPEC expects global oil demand to grow by 950,000 barrels a day to 85.38 million barrels a day. It previously expected growth of 900,000 barrels a day.
Among other energy products on Tuesday, natural gas for June delivery fell 4 cents, or 1% at $4.13 a million British thermal units while heating oil for June settled 2 cents higher, up 0.9%, at $2.14 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.
At the MCX, crude oil for May delivery closed higher by Rs 12 (0.34%) at Rs 3,460/barrel. Natural gas for May delivery closed at Rs 187.4, lower by Rs 1.8 (0.95%).
Market may open higher on positive Asian stocks; industrial production data eyed
The market may open higher on positive Asian stocks. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicate that the Nifty could gain 15 points at the opening bell. Closer home, the government will announce the industrial output data for the month of March 2010 today, 12 May 2010. Industrial output rose by lower than expected 15.1% February 2010 and also lower than 16.7% rise in January 2010.
Asian stocks rose on Wednesday led by carmakers and gold producers, after Toyota Motor Corp. and Isuzu Motors forecast higher earnings and bullion advanced to a record. The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea and Taiwan rose by between 0.04% to 1.23%. But, Singapore's Straits Times fell 0.14%.
Meanwhile, South Korea's central bank left its policy interest rate unchanged Wednesday at a record-low 2%, as expected, and said it foresees continued growth in the nation's economy but also warned of uncertainty due to sovereign-debt concerns in Europe.
US stocks declined in a volatile session on Tuesday as fears that a $1 trillion bailout for Europe won't solve the region's deep-seated problems blunted an improving US economic picture. The Dow Jones Industrial Average dropped 36.88 points, or 0.34% to 10,748.26. The Standard & Poor's 500 Index fell 3.94 points, or 0.34% to 1,155.79. But, the Nasdaq Composite Index gained 0.64 points, or 0.03% to 2,375.31.
Back home, the fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1487 companies rose 36.2% to Rs 45462 crore on 29.1% rise in sales to Rs 419714 crore in the quarter ended March 2010 over the quarter ended March 2009.
Bajaj Auto, Bajaj Holdings & Investment, Blue Star, DB Realty, Dewan Housing, Glodyne Technologies, Hathway Cables, Mahindra Forging, Mangalore Refineries, Rohit Ferro, RPG Life, Thermax, Welspun India among others will announce their January-March 2010 quarter results today.
Larsen & Toubro will be in focus after company's water technology business unit won an order worth Rs 850 crore in Doha, Qatar for advanced waste water treatment and urban reuse.
On the macro front, 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.
On Friday, 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%. 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.
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 edged lower in choppy trade on Tuesday, 11 May 2010 as world stocks retreated after Monday (10 May 2010)'s solid surge amid uncertainty over euro-zone countries' ability to reduce their deficits. The BSE 30-share Sensex fell 189.02 points or 1.09% to 17,141.53 on Tuesday.
As per provisional figures on NSE, foreign funds bought shares worth Rs 20.19 crore and domestic funds bought shares worth Rs 22.49 crore on Tuesday.
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