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Monday, June 14, 2010

Reliance Communications to restructure tower company

Anil Ambani group today decided to separate tower business of its telecom arm Reliance Communications to create an independent firm, saying it was in advanced stage of talks for stake sale in the new entity.

The purpose of creating a separate firm is to secure business from other telecom and broadband players, including Mukesh Ambani-led RIL, while at the same time cutting debts of RCom, which has also decided for a strategic sale of 26 per cent equity.

Midcap Stock Picks - the best for you..

Midcap Stock Picks

Nifty June 2010 futures above 5,200

Turnover surges

Nifty June 2010 futures were at 5,205, at a premium of 7.30 points compared to spot closing of 5,197.70. Turnover in NSE's futures & options (F&O) segment surged to Rs 1,00,140.39 crore from Rs 88,216.24 crore on Friday, 11 June 2010.

Asian stocks rejoice on Monday

Markets build up impressive gains on upbeat US data, BIS alleviates Eurozone debt worries

Asian stock markets rose today as investors eyed the recent array of positive economic data and lack of fresh bearish news on the Eurozone debt debacle spurred buying on the very first session of the day. However, the overall trading was quite dull as a few major markets were closed today. The DOW futures rallied sharply and commodities roared, bringing smashing gains for the resource related stocks. The markets were given a helping hand by a Bank for International Settlements (BIS) report stating that government debt accounted for a smaller part of euro area banks' exposures to the countries facing market pressures than claims on the private sector. On Friday, an index of U.S. consumer sentiment climbed in June to the highest level in more than two years, fueling speculation the nation's economy may be able to weather Europe's debt crisis.

Market at 1-month high on Fitch upgrade

Today's major news

Singapore Exchange signs agreement with HCL Technologies; the stock closes 3.34% higher

Inflation rises to 10.16% in May

UCO Bank to raise Rs500 crore via follow-on public offer; the stock closes 1.66% up

BSE Bulk Deals to Watch - June 14 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
14/6/2010 517356 ACI Infocom DIVYA ALOK GUPTA S 60000 23.43
14/6/2010 530901 ACIL Cot Inds JAYSHREE SHANKAR BHOSLE B 87963 32.00
14/6/2010 512109 Aviva Inds UPENDRASINGH KALIDAS JADAV B 50000 26.00
14/6/2010 512109 Aviva Inds SONAL SHARES INVESTMENT & COMPANY B 40000 25.75
14/6/2010 512109 Aviva Inds AMITA S SHAH S 15000 26.00
14/6/2010 512109 Aviva Inds MANJU MAHENDRA SHAH S 60000 25.96

NSE Bulk Deals to Watch - June 14 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
14-JUN-2010,EVERONN,Everonn Education Limited,MORGAN STANLEY MAURITIUS COMPANY LTD,BUY,155000,422.15,-
14-JUN-2010,FIEMIND,Fiem Industries Limited,PRIMORE SOLUTIONS PVT.LTD,BUY,62916,146.76,-

Market scales highest level since early May 2010

The key benchmark indices logged gains for the fourth running day after global rating agency Fitch Ratings raised India's local currency rating outlook to stable from negative. Firm global stocks also underpinned sentiments. The BSE 30-share Sensex was up 273.22 points or 1.60%, up 219.43 points from the day's low and off 13.01 points from the day's high. The Sensex and the 50-unit Nifty both attained their highest closing levels since early May 2010. The market breadth was strong. Shares of Anil Dhirubhai Ambani group (ADAG) hogged limelight.

Jubilant Foodworks - too much pizza!

Jubilant Foodworks

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Fatpipe Networks and Parabolic Drugs Grey Market Premiums

Company Name

Offer Price




Fatpipe Networks India Ltd.

80 to 85

1.5 to 2

Parabolic Drugs Ltd.

75 to 85

2 to 2.50

Survival of the fittest!

It is not the strongest of the species, nor the most intelligent that survives, but one that is the most adaptable to change - Charles Darwin.

The bulls survived yet another global scare last week with the NSE Nifty closing above 5100 and the BSE Sensex reclaiming the 17,000 mark. The main indices are expected to gain further ground, at least at the start. Asian markets are trading firm this morning. The Hang Seng has rallied to surpass 20,000 while the Nikkei in Tokyo closed the first half 1.6% higher. Markets in Australia and China are shut today for public holidays.

Market seen opening firm on positive global cues

The market is likely to open firm, extending three-day gains, on the back of positive global cues. Trading in S&P CNX Nifty index futures on the Singapore stock exchange indicated that the Nifty could rise 21.50 points at the opening bell. Monthly inflation data for May 2010 due to be released by the government today, 14 June 2010 will be closely watched.

Crude moves down

Healthy weekly gains for crude

Crude oil prices ended substantially lower on Friday, 11 June 2010 at Nymex. Prices fell due to weaker than expected retail sales data at Wall Street. Nevertheless, prices registered healthy weekly gains.

Daily News Roundup - June 14 2010

Reliance Industries discovered more oil at an onland site in Gujarat’s Cambay Basin, raising the potential of the exploratory fields it has been drilling. (ET)

The management of Reliance Industries has told its board that it has identified power, telecommunications, financial services and pharmaceuticals for investments in the near future. (ET)

Stock market weekly...gains finally kick in

It was a week of gap-downs and gap-ups. The Indian benchmark indices finally ended the week with decent gains for the third week in a row. After starting on a somber note and facing stiff resistance around 17,000 levels, bulls were back to their scoring ways as the markets managed to recoup all the earlier losses. Better than expected April IIP data backed by positive European cues stemmed any further slide. The Realty stocks witnessed some serious offloading with heavyweights like DLF and Unitech losing over 5%. Lower than expected PMI output data in China led to a fall in Metal prices, which in turn dragged the metal stocks lower. However, the Pharma and the Auto stocks were among the notable gainers. Finally, the NSE Nifty and the BSE Sensex gained 1.3% each during the week.

Stocks set to begin strong

Headlines for the day:

Mukesh plans $5-billion telecom revolution 2.0

Jubilant organosys to set up two units in Bharuch SEZ

Welspun to invest Rs300 crore to enhance production

India Shipping Sector

India Shipping Sector

Weekly Review - June 14 2010

Weekly Review - June 14 2010

Jain Irrigation Systems - all set for micro irrigation

Jain Irrigation Systems

India Real Estate - comfortable valuations - buy

India Real Estate

Cement Sector - prices declining too fast

Cement Sector

Bullion metals continue to stay mixed

Gold shines but silver turns pale

Yellow metal prices ended higher on Friday, 11 June 2010 at Comex. Bullion metals witnessed buying interest as prices had dropped somewhat in recent times. Prices also rose as euro lost ground against the dollar. Prices rose despite a steady dollar. But silver prices dropped.

Firstsource Solutions - growth, margins to improve

Firstsource Solutions

Manappuram General Finance, Ranbaxy Labs

Manappuram General Finance, Ranbaxy Labs

Weekly Stock Pick - June 14 2010

Weekly Stock Pick - June 14 2010

Mindtree - change in product strategy ?


Union Bank of India - healthy business

Union Bank of India

SGX Nifty Live Update - June 14 2010

5,140.00 +26.50

Dr Reddys Labs

Dr Reddys Labs

Voltas - improving times


Reliance Industries and Reliance Communications may partner

RIL, RCom working on partnership blueprint.

Scale matters. Especially when one is talking about Mukesh Ambani and his flagship Reliance Industries (RIL).

Telecom will be no exception, as RIL’s top executive Manoj Modi and chief financial officer Alok Agarwal told analysts on Saturday that their total investment, including the acquisition of 95 per cent of Infotel Broadband, would come to around Rs 22,000 crore. The initial capital expenditure on physical infrastructure for rolling out broadband services will be over Rs 4,500 crore, the executives added. RIL will also pay Rs 12,872 crore to the government as licence fee for spectrum bagged by Infotel, which will now become a RIL subsidiary.