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Saturday, May 15, 2010
India ITR Forms Download - ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, ITR-7, Acknowledgment
REC, Adani, Piramal Healthcare in MSCI index
Shares of Rural Electrification Corp. Ltd. (REC) jumped after MSCI included the state-run power finance company, Piramal Healthcare and Adani Enterprises in the MSCI India Index. REC is also one of the three largest additions to the MSCI Emerging Market Index. Idea Cellular was removed from the MSCI India index. MSCI also added 51 Indian stocks in the Global Small-Cap indices while removing 12 stocks from the index. These changes resulted from the May 2010 Semi-Annual Index Review and will come into effect from May 26.
Forty-two securities were added to and 45 securities were deleted from the MSCI Global Standard Indices. Five hundred eleven securities were added to and 188 securities were deleted from the MSCI Global Small Cap Indices. Several emerging market funds benchmark their performance to MSCI gauges. These funds, especially exchange-traded, have to buy these shares to ensure their returns reflect the movements of the MSCI Emerging market Index. The revision will lead to more institutional participation in the three Indian stocks as global funds, active and passive, are benchmarked against MSCI indices and mirror the index.
Oil PSUs sign JV pact for Venezuela project
Union Minister of Petroleum and Natural Gas, Murli Deora, along with S. Sundareshan, Secretary Petroleum; Chairman Indian Oil Corp; Chairman & Managing Director, Oil India; Managing Director, ONGC Videsh Ltd. and other senior officials from the Ministry of Petroleum and Natural Gas participated in the signing ceremony presided by the President of the Bolivarian Republic of Venezuela, Hugo Chavez Frias for signing a joint venture agreement with the Corporación Venezolana del Petróleo S.A. (CVP) for the development and production from Carabobo-1 Project, in Orinoco Region of Venezuela. The signing took place in Caracas, the capital city of Venezuela, late Thursday night (India time). The new joint venture is PetroCarabobo S.A. Along with OVL, IOC and OIL, the other two partners of the consortium i.e. Spanish Major Repsol and Malaysian Petronas also signed the joint venture agreement.
The consortium of OVL (11%), Indian Oil (3.5%), Oil India (3.5%), Repsol YPF (11%) and Petroliam Nasional Berhad (11%), was selected by the Government of the Bolivarian Republic of Venezuela on February 10 for awarding a 40% ownership interest in an "Empresa Mixta" (or "Mixed Company") which will develop the Carabobo 1 Norte and Carabobo 1 Centro blocks located in the Orinoco Heavy Oil Belt. The Corporación Venezolana del Petróleo (CVP), a subsidiary of Petróleos de Venezuela S.A. (PDVSA), Venezuela's state oil company, will hold the remaining 60% equity interest.
The Mixed Company will build heavy oil production facilities, upgrading facilities and associated infrastructure. The upstream production facilities are expected to produce around 400,000 barrels per day of extra heavy oil of which approximately 200,000 barrels per day will be upgraded into light crude oil in a facility to be located in the Soledad area, Anzoátegui State. The license term will be for 25 years with the potential for a further 15 year extension. The project costs are estimated at US$15-20bn and is one of India’s major investments in the Latin American oil major.
World Gold Council celebrates Akshaya Tritiya
Speaking on the occasion Ajay Mitra, Managing Director - Indian Sub-Continent, World Gold Council said, "World Gold Council has been at the forefront for the uptake of gold in India and defining that gold is not only a sound investment but also an attractive ornament for women. Gold has tremendous significance in the context of India’s festivals, culture and traditions. Gold best represents prosperity and is welcomed and brought into the house just as lakshmi, the goddess of wealth is welcomed into homes for luck and prosperity. As Akshaya Tritiya is an auspicious time for prosperity and new beginnings, it’s an apt time to buy, wear and celebrate gold."
Speaking on the occasion Ajay Mitra, Managing Director - Indian Sub-Continent, World Gold Council said, "World Gold Council has been at the forefront for the uptake of gold in India and defining that gold is not only a sound investment but also an attractive ornament for women. Gold has tremendous significance in the context of India’s festivals, culture and traditions. Gold best represents prosperity and is welcomed and brought into the house just as lakshmi, the goddess of wealth is welcomed into homes for luck and prosperity. As Akshaya Tritiya is an auspicious time for prosperity and new beginnings, it’s an apt time to buy, wear and celebrate gold."
Over the years, Akshaya Tritiya has gained prominence as one of the most important festivals in India. It has moved from being only a South-specific festival to one that is enjoyed in all regions of India. A number of jewellery stores in the South are undertaking various promotions, such as Joy Alukkas who are offering 5 gold coins of 200gms each with every purchase of gold worth one lakh rupees. Similarly, Malabar Gold jewelers are offering a free gold coin with every purchase of 20gms of gold jewellery. Prince jewelers are offering Rs 600 off per sovereign on gold jewellery and no making charges on plain gold jewellery. GRT jewelers have an offer of Rs 45 less per gram.
Across the country, gold retailers will be running gold jewellery shopping festivals, jewellery Mahotsavs as well as launching new gold jewellery designs and collections to commemorate the occasion of gold buying and wearing on the occasion of Akshaya Tritiya. These include PNG in Pune that has a Mangalsutra Mahotsav which will conclude on Akshay Tritiya, Senco Gold in Kolkata has a bangle festival where there are 24 designs being promoted across their 21 outlets in Kolkata and West Bengal. There is also a Bengal Gold Festival for a month starting 2 days before Akshay Tritiya where consumers will get a chance to win one lakh worth of gold if they purchase gold from participating outlets. Similarly there are promotions in Mumbai at leading retailers such as TBZ-The Original and Waman Hari Pethe Jewellers and in Delhi at Hazoorilal Jewellers and Khanna Jewellers.
World Gold Council has initiated a vibrant POS exercise across 2200 outlets across Mumbai, Delhi, Pune, Ahmedabad, Surat and Nagpur in multiple languages. This initiative is to bring forth the Akshaye Tritiya messaging and relevance to the consumers and adorn every outlet to add to the festive zest and vigour.
Together with India Post, World Gold Council has launched a new gold medallion especially for the Akshaya Tritiya festive season. Consumers can avail a 6% discount on purchase of these medallions during the Akshaya Tritiya period.
Inflation slips again in April
India’s inflation continued to slip for the second straight month. April inflation, as measured by the wholesale price index (WPI), fell to 9.59% from 9.9% in March. Economists had expected inflation to come in at 9.5%. The Government announced that it has revised February inflation to 10.06% from 9.89% earlier. The RBI expects inflation to ease around mid-2010 and has forecast March 2011 WPI inflation of 5.5%.
Chief economic adviser to the Finance Ministry Kaushik Basu said that wholesale price inflation is unlikely to touch double digits from now. "It is very, very unlikely that inflation will go back to double digits. In June it might increase slightly due to base effect," Basu said on the sidelines of an event in Kolkata.
The data showed that annual food inflation rose to 16.87% in April from 16.65% in the prior month. Fuel inflation eased to 12.55% in the same month from 12.7% in March. Manufacturing inflation cooled to 6.7% from 7.13% in March.
The RBI will exit monetary stimulus in a "calibrated" manner, deputy governor Subir Gokarn said. The RBI has raised interest rates twice since mid-March. The central bank’s reverse repurchase rate is currently at 3.75% and the repurchase rate at 5.25%.
Telecom stocks slammed on TRAI suggestions
Telecom shares were pounded after the telecom regulator TRAI suggested that telecom operators must pay a one-time fee for holding radio-spectrum beyond 6.2 mega hertz based on 3G prices. TRAI chairman J.S. Sarma was quoted as saying that the plan to charge a one-time fee for holding 2G radio spectrum in excess of 6.2 MHz would mean mobile phone companies must pay Rs300-350bn more to the Government. The worst affected companies will be Bharti Airtel, BSNL, Idea Cellular and Vodafone Essar, which hold 2G spectrum beyond 6.2 megahertz (MHz). Investors are concerned as TRAI's recommendations will have negative impact on the industry. After soaring 3G auction rates, which is to be followed by broadband auctions, telecom companies may now have to pay extra for 2G. This coupled with uncertainties in the sector and one paise per second tariffs could continue to weigh on telecom stocks.
However, Telecom Minister A. Raja said that the Government will listen to mobile phone operators' concerns before finalising plans to slap new fees on second-generation spectrum. India's leading mobile phone operator Bharti Airtel said that the regulator's proposals were "shocking, arbitrary and retrograde" and urged Government to reject them. Others like Idea and Vodafone Essar also slammed the TRAI recommendations and asked the Government to step in. "If necessary, patient hearing will be given to all stakeholders," Raja said. He also said that he expected the ongoing 3G spectrum auctions to conclude in the next few days. Bids for one set of nationwide third-generation (3G) mobile spectrum licences in India reached Rs150bn (US$3.33bn) as of May 13, an indication that the Government could earn revenue of more than Rs600bn from the sale.
Weekly Newsletter - May 15 2010
The rollercoaster ride may continue for a while amid lingering concerns over the health of the debt-laden euro-zone nations and the fate of the 16-nation bloc and its common currency. Adding to the already ugly global scenario are worries over the widening US probe into top Wall Street banks and overheating in China. As far as India is concerned, the latest macro-economic numbers have not been great, what with industrial production slowing and food inflation rising. A drop in traded volume and FII inflows are among the other pressure points. Results have been mixed and current valuations appear to be rich considering the prospects for the Indian economy. The next big catalyst will be monsoon. Another bad year for the agriculture sector could make life tough for the policymakers. All in all, things will remain volatile with a slightly negative bias in the near term. Global factors will continue to drive the sentiment for the foreseeable future. The NSE Nifty will find it hard to surpass 5200 and 5300 beyond that. On the way down, support is likely to kick in at 5100 and at 5000. There is a chance of the nifty slipping below 5000 if the global picture worsens a bit further. So, one need not take undue risks right now though medium- to long-term prospects appear bright.
BSE Bulk Deals to Watch - May 15 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
14/5/2010 523204 Aban Offshore GENUINE STOCK BROKERS PVT. LTD. B 350976 841.27
14/5/2010 523204 Aban Offshore OPG SECURITIES P LTD B 250286 841.86
14/5/2010 523204 Aban Offshore OPG SECURITIES P LTD S 250286 842.06
14/5/2010 523204 Aban Offshore GENUINE STOCK BROKERS PVT. LTD. S 350976 841.80
14/5/2010 532166 Alka Securities HARSHVARDHAN JAIN B 508451 6.04
14/5/2010 521070 Alok Inds ARTISTIC FINANCE PVT LTD B 6894138 21.89
14/5/2010 521070 Alok Inds ICICI BANKING CORPORATION LTD S 6429491 22.00
14/5/2010 504629 Anil Special SAMTUL INVESTMENTS LTD S 310000 19.63
14/5/2010 590061 Brushman India INDIAN CHAIN PRIVATE LIMITED B 100000 9.21
14/5/2010 533026 Chemcel Bio NIOL IMPEX PRIVATE LIMITED B 186000 9.74
14/5/2010 533026 Chemcel Bio KAMLESH NAHAR B 200000 9.72
14/5/2010 533026 Chemcel Bio ACME FURNITURE PRIVATE LIMITE S 186000 9.70
14/5/2010 531171 Devika Prot NARENDRA VALLABHAJI BAHUVA B 171487 30.62
14/5/2010 531171 Devika Prot MRUNAL AGENCY & FINANCE PVT. LTD. B 110944 30.50
14/5/2010 531171 Devika Prot NARENDRA VALLABHAJI BAHUVA S 159371 29.43
14/5/2010 531171 Devika Prot MRUNAL AGENCY & FINANCE PVT. LTD. S 90600 30.12
14/5/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED B 157843 16.09
14/5/2010 517973 DMC Intl J V STOCK BROKING PRIVATE LIMITED S 157842 15.95
14/5/2010 517973 DMC Intl CNB FINWIZ LIMITED S 118002 15.85
14/5/2010 517973 DMC Intl SHARK COMMUNICATION PVT LIMITED S 158800 16.39
14/5/2010 532857 Glory Polyfilms SAFFRON FINANCE LIMITED B 314240 18.21
14/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. B 179196 19.12
14/5/2010 532857 Glory Polyfilms TARA MISHRA B 168568 20.46
14/5/2010 532857 Glory Polyfilms TRANSGLOBAL SECURITIES LTD. S 179196 19.30
14/5/2010 532857 Glory Polyfilms TARA MISHRA S 168568 18.58
14/5/2010 532857 Glory Polyfilms RAJ FINVEST S 210958 19.74
14/5/2010 532857 Glory Polyfilms SAFFRON FINANCE LIMITED S 314240 18.24
14/5/2010 532857 Glory Polyfilms MAHAVIR KNIT FAB PRIVATE LIMITED S 144776 19.08
14/5/2010 533154 Infinite Comp Sol OPG SECURITIES P LTD B 280496 192.90
14/5/2010 533154 Infinite Comp Sol OPG SECURITIES P LTD S 280496 192.99
14/5/2010 524731 Jenburkt Pharma SAINATH HERBAL CARE MARKETING P.LTD B 23802 68.34
14/5/2010 524731 Jenburkt Pharma SAINATH HERBAL CARE MARKETING P.LTD S 23802 66.90
14/5/2010 524731 Jenburkt Pharma HEMENDRA RATILAL MEHTA S 35000 68.79
14/5/2010 519248 JVL Agro Inds FINBAY CONSULTANTS B 75000 253.39
14/5/2010 519248 JVL Agro Inds ROHIT KHULLAR B 77500 253.55
14/5/2010 519248 JVL Agro Inds MOHIT KHULLAR B 77500 253.55
14/5/2010 519248 JVL Agro Inds NILAMBER SECURITIES PVT LTD S 72281 253.55
14/5/2010 519248 JVL Agro Inds M.PRASAD & CO LTD S 78000 253.55
14/5/2010 519248 JVL Agro Inds KUMAR RAVINDER SHROFF S 72000 253.55
14/5/2010 590084 KANCO ENTER MALLIKAR JUNMAILAPUR B 80812 5.56
14/5/2010 530255 KAY Power KAUSHALYA GARG B 61100 14.23
14/5/2010 530255 KAY Power BAMPSL SECURITIES LTD S 66133 14.27
14/5/2010 590111 MASTER DEVAIANH MONDI B 37426 32.66
14/5/2010 590111 MASTER GOPALA KRISHNA BONAM S 30622 32.73
14/5/2010 590111 MASTER VENKATA BADRI NARAYANAMMA GOLLAPUDI S 42000 31.33
14/5/2010 531942 Millennium Cyb SANTOSH ABHAYRAJ SHUKLA S 70000 4.99
14/5/2010 526169 Multibase India HITESH SHASHIKANT JHAVERI B 67069 36.55
14/5/2010 519479 Omega Agseeds CHANDRAKANT VADILAL SHAH S 46000 19.45
14/5/2010 531496 Omkar Overseas FALGUNIBEN MAHAVIRBHAI GOHIL S 31700 62.58
14/5/2010 512097 Oregon Comm DEEPA DILIPKUMAR VIRWANI B 5000 276.90
14/5/2010 512097 Oregon Comm DEEPAK D VIRWANI B 5000 276.90
14/5/2010 512097 Oregon Comm PARESH RAMJIBHAI CHAUHAN B 10446 277.40
14/5/2010 512097 Oregon Comm KRUPA SANJAY SONI B 33000 279.09
14/5/2010 512097 Oregon Comm AMUL GAGABHAI DESAI S 9000 279.68
14/5/2010 512097 Oregon Comm MAHESHKUMAR K VIRWANI S 5000 278.00
14/5/2010 512097 Oregon Comm DHIRENKUMAR DHARAMDAS AGARWAL S 7700 279.18
14/5/2010 530923 Passari Cellu MANMOHAN DAMANI B 53500 59.90
14/5/2010 530923 Passari Cellu MANMOHAN DAMANI B 283800 59.89
14/5/2010 530923 Passari Cellu SUKHDEV KAUR SONI B 53500 57.50
14/5/2010 530923 Passari Cellu PAWANDEEP SINGH SONI B 53500 57.50
14/5/2010 530923 Passari Cellu PARAM COMMODITIES PRIVATE LIMITED B 72550 57.53
14/5/2010 530923 Passari Cellu JASPAL SINGH SONI B 53500 57.50
14/5/2010 530923 Passari Cellu HARPAL KAUR B 53500 57.50
14/5/2010 530923 Passari Cellu APURVA COMMODITIES PRIVATE LIMITED B 53500 57.50
14/5/2010 530923 Passari Cellu APURVA COMMODITIES PRIVATE LIMITED S 53500 59.90
14/5/2010 530923 Passari Cellu HARPAL KAUR S 53500 59.85
14/5/2010 530923 Passari Cellu JASPAL SINGH SONI S 53500 59.90
14/5/2010 530923 Passari Cellu PARAM COMMODITIES PRIVATE LIMITED S 69800 59.90
14/5/2010 530923 Passari Cellu PAWANDEEP SINGH SONI S 53500 59.90
14/5/2010 530923 Passari Cellu SUKHDEV KAUR SONI S 53500 59.83
14/5/2010 530923 Passari Cellu MANMOHAN DAMANI S 283800 57.50
14/5/2010 530923 Passari Cellu MANMOHAN DAMANI S 53500 57.50
14/5/2010 531467 Polypro Fibrils MURLI MANOHAR LAHOTI B 50000 36.55
14/5/2010 531467 Polypro Fibrils AJAY RAVINDRA SHAH B 26556 37.82
14/5/2010 531467 Polypro Fibrils AJAY RAVINDRA SHAH S 26601 36.55
14/5/2010 511016 Premier Cap INNOVA ESERVICES PRIVATE LTD B 15000 49.18
14/5/2010 511016 Premier Cap YUKTI INVESTMENT PVT LTD S 16000 49.39
14/5/2010 590077 Ranklin Sol M SRINIVASA REDDY B 45000 61.32
14/5/2010 590077 Ranklin Sol PULAVARTHI ANIL SEKHAR B 57144 63.20
14/5/2010 590077 Ranklin Sol PULAVARTHI ANIL SEKHAR S 57144 60.92
14/5/2010 526510 Shakti Metdor SILPA SHELTERS LIMITED B 17000 180.90
14/5/2010 526510 Shakti Metdor VANITHA YERRAM B 16500 180.90
14/5/2010 530651 Softech Inf NILESH EKNATH BHOIR S 25900 20.09
14/5/2010 531645 Southern Ispat LANSDOWN PROPERTIES LIMITED S 117953 20.08
14/5/2010 502465 Speciality Pap RUCHIBEN MAHENDARBHAI SHAH S 50020 17.23
14/5/2010 531373 Suave Hotels MADHU ALOK GOENKA S 75000 44.41
14/5/2010 526133 Supertex Inds SUPER INFINCON PVT LTD S 2019957 4.95
14/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 267817 178.77
14/5/2010 533200 TALWALKAR OPG SECURITIES P LTD B 166285 179.72
14/5/2010 533200 TALWALKAR OPG SECURITIES P LTD S 166285 179.77
14/5/2010 533200 TALWALKAR CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 267817 179.62
14/5/2010 532765 Usher Agro LUMINARY REALTORS PRIVATE LIMITED B 200000 81.79
14/5/2010 531249 Well Pack Papers BHARAT KUMAR BALDEVBHAI PARMAR B 551350 30.00
14/5/2010 531249 Well Pack Papers ADHAU RAVI B 795000 30.14
14/5/2010 531249 Well Pack Papers VISHAL PARE B 469952 29.96
14/5/2010 531249 Well Pack Papers AMAR PREMCHAND WALMIKI B 395000 29.24
14/5/2010 531249 Well Pack Papers BHARAT KUMAR BALDEVBHAI PARMAR S 551350 30.16
14/5/2010 531249 Well Pack Papers BENKO TRADING PRIVATE LTD S 406302 29.20
14/5/2010 522029 Windsor Mach HITESH SHASHIKANT JHAVERI S 87778 47.65
14/5/2010 530091 Zyden Gentec SAURABH KUMARRASIKLALGANDHI B 211870 2.05
14/5/2010 530091 Zyden Gentec SAURABHKUMAR RASIKLAL GANDHI S 200000 2.06
* B - Buy, S - Sell
NSE Bulk Deals to Watch - May 15 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
14-MAY-2010,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,BUY,381187,840.30,-
14-MAY-2010,ABAN,Aban Offshore Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,405138,840.57,-
14-MAY-2010,ABAN,Aban Offshore Ltd.,GLOBAL VISION SECURITIES PRIVATE LIMITED,BUY,281845,840.22,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,INVENTURE GROWTH & SECURITIES LIMITED,BUY,159959,19.27,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,MAHAVIR KNITFAB PVT LTD,BUY,142333,18.89,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,NATHOORAM NITYANAND TIMBERS (P) LTD.,BUY,1361521,19.80,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,BUY,115100,19.14,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,BUY,25000,19.63,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,SAFFRON FINANCE LIMITED,BUY,339817,19.15,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TARA MISHRA,BUY,684824,19.36,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TOUCHSTONE FINVEST SERVICES PRIVATE LIMITED,BUY,144455,19.66,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,BUY,219559,19.18,-
14-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,267290,179.29,-
14-MAY-2010,TATACOFFEE,Tata Coffee Limited,SHARAD KANTILAL SHAH,BUY,100158,403.60,-
14-MAY-2010,WINDSOR,Windsor Machines Limited,BP FINTRADE PRIVATE LIMITED,BUY,78744,47.70,-
14-MAY-2010,ABAN,Aban Offshore Ltd.,C D INTEGRATED SERVICES LTD.,SELL,381187,840.86,-
14-MAY-2010,ABAN,Aban Offshore Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,405138,840.95,-
14-MAY-2010,ABAN,Aban Offshore Ltd.,GLOBAL VISION SECURITIES PRIVATE LIMITED,SELL,281845,841.13,-
14-MAY-2010,ATNINTER,ATN International Limited,M G L HOLDINGS Pvt Ltd.,SELL,200000,2.88,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,INVENTURE GROWTH & SECURITIES LIMITED,SELL,144968,19.53,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,KISHORE KUMAR PATKI,SELL,200000,19.65,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,MAHAVIR KNITFAB PVT LTD,SELL,1057,18.80,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,NATHOORAM NITYANAND TIMBERS (P) LTD.,SELL,1361521,19.27,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,PUSHKAR BANIJYA LTD,SELL,500000,19.36,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,RAJ FINVEST,SELL,226087,19.72,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,SAAKSHI SHARES PVT.LTD.,SELL,144438,18.17,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,SAFFRON FINANCE LIMITED,SELL,339817,19.16,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,SARSWATI VINCOM LTD,SELL,425000,20.00,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TARA MISHRA,SELL,684824,18.75,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TOUCHSTONE FINVEST SERVICES PRIVATE LIMITED,SELL,144455,19.45,-
14-MAY-2010,GLORY,Glory Polyfilms Limited,TRANSGLOBAL SECURITIES LTD.,SELL,219559,19.04,-
14-MAY-2010,TALWALKARS,Talwalkar Fitness Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,267290,178.49,-
14-MAY-2010,WINDSOR,Windsor Machines Limited,BP FINTRADE PRIVATE LIMITED,SELL,88739,47.70,-
Interest rate sensitive stocks rally
The market moved higher last week as global stocks rallied after European leaders on 9 May 2010 announced a rescue package to prevent Greece's fiscal woes from triggering a broader sovereign-debt crisis in the region. Most sectoral indices on BSE rose.
The BSE Realty index led the rally in sectoral indices, followed by Auto, Consumer Durables, Bankex, FMCG and IT index in that order. The BSE Metal and Capital Goods indices ended lower.
On the macro front, the latest economic data showed industrial output rose lower than expected 13.5% in March 2010. The growth was also slower than February's 15.1% expansion. 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.
FII outflow in May 2010 totaled Rs 2,355.70 crore, while the inflow in the calendar year 2010 totaled Rs 27,650.10 crore (till 12 May 2010). Foreign institutional investors (FIIs) are the key driver of the Indian market.
The fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1,713 companies rose 26.5% to Rs 47972 crore on 27.5% rise in sales to Rs 479207 crore in the quarter ended March 2010 over the quarter ended March 2009.
The BSE Sensex 225.49 points or 1.34% to 16,994.60 in the week ended Friday, 14 May 2010. The S&P CNX Nifty rose 75.45 points or 1.5% to 5,093.50 in the week.
The BSE Mid-Cap index rose 1.58% and the BSE Small-Cap index gained 1.16% in the week. The Mid-Cap index outperformed the Snesex. But the Small-Cap index underperformed the Sensex.
Trading for the week began on an upbeat note. The key benchmark indices recouped a large portion of previous week's steep losses in a single trading session on Monday, 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% to 17,330.55. The S&P CNX Nifty rose 175.55 points or 3.5% to 5,193.60.
The key benchmark indices edged lower in choppy trade on Tuesday, 11 May 2010, as world stocks retreated after previous session's (10 May 2010) 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. The S&P CNX Nifty declined 57.45 points or 1.11% to 5,136.15.
The key benchmarks eked out small gains in volatile trade Wednesday, 12 May 2010, 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. The BSE 30-share Sensex rose 54.28 points or 0.32% to 17,195.81. The S&P CNX Nifty rose 20.50 points or 0.4% to 5156.65.
The key benchmark indices gained for the second consecutive session on Thursday, 13 May 2010, as Asian stocks rose. The BSE 30-share Sensex rose 70.06 points or 0.41% to 17,265.87. The S&P CNX Nifty was up 22.25 points or 0.43% to 5178.90.
The key benchmark indices slumped again on Friday, 14 May 2010, tracking weak European stocks and lower US index futures. The BSE 30-share Sensex fell 271.27 points or 1.57% to 16,994.60. The S&P CNX Nifty fell 85.40 points or 1.65% to 5,093.50.
India's largest truck maker by sales Tata Motors rose 6.98%. The company's global vehicles sales rose 53% to 77,732 units in April 2010 over April 2009. Global sales include that of Jaguar and Land Rover brands, which rose 61% to 17,909 vehicles.
India's largest tractor maker by sales Mahindra & Mahindra rose 6.98%. However, India's largest two-wheeler maker by sales Hero Honda Motors fell 0.72% and India's largest car maker maker by sales Maruti Suzuki India fell 1.36%.
Private sector power utility and infrastructure firm Reliance Infrastructure rose 4.69% to Rs 1026. A prominent foreign broker maintained overweight rating on the stock with a revised target price of Rs 1280 per share.
According to the brokerage, although a Supreme Court ruling on gas sales went against the company, it has removed a big overhang from the stock. The focus will now move toward execution of the various power and infrastructure projects, which will drive stock performance, the report added. The Supreme Court ruled in favour of Mukesh Ambani controlled Reliance Industries on a gas dispute with Anil Dhirubhai Ambani Group's Reliance Natural Resources (RNRL). Reliance Infrastructure is a part of the Anil Dhirubhai Ambani Group.
Another private sector power utility Tata Power Company rose 3.93%.
India's largest realty developer by market capitalisation DLF rose 4.81%. India's second largest realty developer by market capitalisation Unitech rose 4.08%.
India's largest private sector bank by market capitalisation ICICI Bank rose 4.03%. Private sector lender HDFC Bank rose 5.73%. However, state-run State Bank of India fell 0.17%.
Index heavyweight Reliance Industries (RIL) rose 0.94%. The Supreme Court ordered the two firms - Reliance Industries and Reliance Natural Resources (RNRL) to renegotiate a gas 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.
Drug maker Cipla tumbled 8.35% on disappointing fourth quarter result. It was the biggest loser in the Sensex last week. 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.
Telecom stocks tumbled after the telecom regulator suggested telecom firms to pay a one-time fee for holding radio-spectrum beyond 6.2 mega hertz based on 3G prices. Idea Cellular (down 10.53%), Bharti Airtel (down 8.08%) and Reliance Communication (down 5.46%), tumbled.
Trai chairman JS Sarma was quoted by media as saying the plan to charge a one-time fee for holding 2G radio spectrum in excess of 6.2 MHz would mean mobile phone companies must pay Rs 30,000-35,000 crore more to the government. The worst affected companies will be Bharti Airtel, BSNL, Idea Cellular and Vodafone Essar, which hold 2G spectrum beyond 6.2 megahertz (MHz).
Investors are concerned as Trai's recommendations will have negative impact on the industry. After soaring 3G auction rates, which is to be followed by broadband auctions, telecom companies may now have to pay extra for 2G. This coupled with uncertainties in the sector and one paise per second tariffs could continue to weigh on telecom stocks.
Market may remain choppy amid European debt worries
Domestic bourses will take cues from global markets as euro zone debt worries continue to haunt global stocks. More so given that the fourth quarter earnings season is nearing an end.
Investors are worried about the likely impact of euro zone fiscal problems on capital inflows in India. Foreign institutional investors (FIIs) are the key driver of the Indian market. FII outflow in May 2010 totaled Rs 2,355.70 crore, while the inflow in the calendar year 2010 totaled Rs 27,650.10 crore (till 12 May 2010). Redemption pressure for European funds in their home countries may force selling by European funds in emerging markets.
The fourth quarter corporate results announced so far have been fairly encouraging. The combined net profit of a total of 1,679 companies rose 26.6% to Rs 47896 crore on 27.5% rise in sales to Rs 478383 crore in the quarter ended March 2010 over the quarter ended March 2009.
Among the results due next week include Berger Paints, Clutch Auto, Uttam Sugar Mills, Godrej Properties, Rajshree Sugars, Munjal Showa, Rural Electrification Corporation, Amara Raja Batteries, Gangotri Textiles, Agro Tech Foods, Hindusthan National Glass, Transport Corporation of India, Shree Cement, Karur Vysya Bank, Simplex Realty, Dolphin Offshore and MRO-TEK.
On the macro front, the latest economic data showed industrial output rose lower than expected 13.5% in March 2010. The growth was also slower than February's 15.1% expansion. 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.
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.
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