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Tuesday, June 29, 2010

India Telecom, Mahindra and Mahindra, Insurance Sector, Grasim Industries, Hindalco Industries

India Telecom, Mahindra and Mahindra, Insurance Sector, Grasim Industries, Hindalco Industries

Nahar Spinning Mills

Nahar Spinning Mills

Everest Kanto Cylinders, Ultratech Cement, Grasim Cement Everest Kanto Cylinders, Ultratech Cement, Grasim Cement

Everest Kanto Cylinders, Ultratech Cement, Grasim Cement

PSL - huge demand

PSL - huge demand

Amara Raja Batteries - steady growth and profits

Amara Raja Batteries - steady growth and profits

BSE Bulk Deals to Watch - June 29 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
29/6/2010 517356 ACI Infocom SANJAY AGARWAL HUF B 100000 25.60
29/6/2010 517356 ACI Infocom ANJALI COMMODITIES PVT LTD S 100000 25.53

NSE Bulk Deals to Watch - June 29 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
29-JUN-2010,HATHWAY,Hathway Cable & Datacom,RELIANCE MUTUAL FUND,BUY,1300000,175.00,-
29-JUN-2010,INSECTICID,Insecticides (India) Limi,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,96806,278.29,-



Turnover rises

Nifty July 2010 futures at premium

Nifty July 2010 futures were at 5268.50, at a premium of 12.35 points over spot closing of 5256.15. Turnover in NSE's futures & options (F&O) segment rose to Rs 82,409.73 crore from Rs 60,166.73 crore on Monday, 28 June 2010.

Market declines for the third time in four days

The key benchmark indices registered their third decline in four days on Tuesday, 29 June 2010, as Asian and European stocks and US index futures slumped. Metal stocks tumbled after the Conference Board corrected down its April 2010 gauge for the outlook of China's economy. Banking, auto, IT and realty stocks also fell. Index heavyweight Reliance Industries (RIL) edged lower.

New Direct Taxes Code - not so friendly on investments

The revised discussion paper on the new direct tax code has a couple of provisions that would mean a fundamental change for those investing in stocks, equity mutual funds and other equity-based asset types.

Ansal API eyes Rs30K crore investment

After wrapping up a private placement deal with a select group of investors including the Enam Group, realty infrastructure major, Ansal API, is now in talks with some of the leading institutional investors for another equity investment deal.

Bullion metals turn pale

Prices dive lower as dollar heads up

Bullion metal prices ended substantially lower on Monday, 28 June 2010 at Comex. Prices fell as the dollar headed up during the day and as US equities pared their losses that they incurred earlier during the day.

Markets may open flat

Indian equities are likely to open flat on Tuesday, Jun. 29, 2010. SGX Nifty is trading at 5,340 (7.45 am), 1.50 points higher than Monday closing of 5,338.5.

Most Asian stocks rose, led by financial and phone companies. Japanese benchmark index Nikkei 225 rose 47.57 points, or 0.49%, to trade at 9,741.51.

Standing at the threshold!

For many men that stumble at the threshold are well foretold that danger lurks within.- William Shakespeare.

The market may be at the threshold of yet another technical breakout, but given the murky global outlook, the bulls may just remain standing. A flat start and a possible listless session for the overall market is what we have in store.

India Oil Deregulation

India Oil Deregulation

Daily News Roundup - June 29 2010

RIL announced its seventh discovery in the 635 square-kilometre block, CB-ONN-2003/1 (CB 10 A&B), in the Cambay Basin, about 130 kilometres from Ahmedabad. (BS)

SBI to announce its base rate today; hints at fixing it at 8%. (ET)

Tata Motors plans to raise Rs47bn through a combination of instruments to meet capital requirements and cut debt. (BS)

ITC is setting up another unit at its existing paper mill in Bhadrachalam at a cost of Rs10bn to add a paper plant of 0.2mtpa capacity. (BS)

PowerGrid Corp would invest Rs580bn for setting up network to facilitate evacuation of electricity from power surplus states to others. (FE)

ITC plans to extend its Vivel personal care range to deodarants and talcs. (BS)

NTPC plans to raise a syndicated loan of US$300mn to finance its ongoing capacity addition initiatives. (BS)

Plethico Pharmaceuticals has joined hands with US retailing giant Wal-Mart for supplying its nutritional products to US consumers. (ET)

IDFC has received the shareholders’ approval to raise Rs35bn and also to double its borrowings to Rs800bn. (BS)

Reliance Infrastructure to borrow around Rs26bn for the Bandra-Worli-Haji Ali Sea Link project in Mumbai. (ET)

Essar Steel has acquired the UK based steel processor Servosteel for an undisclosed amount. (ET)

IndusInd Bank to raise upto Rs10bn through share sale. (ET)

NTPC has rejected a proposal for pooling of gas prices for the power sector. (BS)

Pantaloon Retail to receive Rs4bn in lieu of convertible warrants issued to promoters. (ET)

Crompton Greaves through its subsidiary CG Power Systems USA Inc opens its transformer unit in US. (BL)

M&M may set up aircraft financing arm in Australia. (BS)

Tube Investments shifts China plant to Chennai. (BL)

CCCL has bagged contracts totaling Rs1.8bn for constructing 10 elevated stations for Chennai Metro Rail project. (BL)

Strides Arcolab plans to raise up to US$100mn through various financial instruments, also plans to hike the borrowing limit to Rs25bn. (ET)

PowerGrid to invest Rs 58-k cr on transmission network it plans to invest Rs 550 bn for adding 37,000 MW (FE)

IRDA has ordered life insurers to offer customers a guaranteed return of 4.5% per annum on pension and annuity plans as part of its new, tighter norms. (ET)

Finance Minister has hinted that the RBI may not increase key policy rates before its next monetary policy review due on July 27. (BS)

Growth in six key infrastructure sectors decelerated for a consecutive month to 5% in May, as output in coal, cement and finished steel slowed. (BS)

Mobile phone firms in India added 16.3mn new users in May taking the total wireless user base to 617.5mn. (ET)

The government is believed to be in the final stages of formulating a gas allocation policy, which is likely to give preference to new power plants over expansion projects. (ET)

Sensex energized…shuts near day’s high

It was a strong day for the Indian markets as the benchmark stock indices ended near the day’s high. The strong upswing was led by Realty and Power stocks. Oil & Gas stocks continued their good run for a second straight day as heavyweights like ONGC, IOC, BPCL and HPCL extended gains post the partial deregulation of fuel prices on Friday. Momentum picked up pace after European markets advanced.

Flat opening on the cards

Headlines for the day:

Tata Motors plans to raise Rs4,700 crore

Infrastructure growth slows to 5% in May

NTPC rejects pooling of gas prices for power, fertiliser sector


Investors with short-term trading perspective can consider buying the stock of Gujarat State Fertilizers and Chemicals. It is seen from the charts of the stock that it has been steadily trending upward since its December 2008 low of Rs 64, shaping higher peaks and higher bottoms. In late May 2010, the stock found support at its significant long-term support zone between Rs 200 and Rs 215 and bounced up immediately. However, after pausing a while near the resistance at Rs 240, it penetrated this resistance by gaining 3.5 per cent on June 28 . This up move has reinforced the stock's bullish momentum. We observe that there is an increase in volumes over the past two trading sessions. The 14-day relative strength index is on the verge of entering in to the bullish zone from the neutral region whereas the weekly RSI has just entered this zone. Daily moving average convergence divergence indicator has signalled a buy and is heading towards positive territory. Moreover, the long-term uptrend-line is in tact for the stock. We are bullish on the stock from a short-term horizon. We expect it to move up until it hits our price targets of Rs 260 or Rs 266. Short-term traders can buy the stock with stop-loss at Rs 241.

via BL

SGX Nifty Live Update - June 29 2010

5,341.00 +2.50