Top Picks for the Week - July 7 2010
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Wednesday, July 07, 2010
NSE's volatility index jumps
F&O turnover spurts
The Nifty July 2010 futures were at 5247.25, at a premium of 6.15 points over spot closing of 5241.10. Turnover in NSE's futures & options (F&O) segment jumped to Rs 69053.31 crore from Rs 59652.35 crore on Tuesday, 6 July 2010.
Markets drop on global cues
Markets today ended near the day's low on weak cues from the global peers. The Sensex touched a high of 17,623 on opening but started slipping soon after on pressure in metal and banking stocks. Towards the end of the day, the Sensex slumped further to a low of 17,447 and ended at 17,471 - down 143 points.
Sensex ends below 17,500; Oil & gas, metal drop
Indian equities dropped on Wednesday erasing earlier gains. The Sensex ended on a depressing note due to global meltdown. All sectoral indices traded in red except consumer duable and teck. Oil & gas, metal and banking stocks faced the brunt of profit booking.
BSE Bulk Deals to Watch - July 7 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
7/7/2010 505665 ABC Bearings LIFE INSURANCE CORPORATION OF INDIA S 65000 122.21
7/7/2010 504629 Anil Special NILESH S JADHAV B 64625 19.57
7/7/2010 504629 Anil Special NILESH S JADHAV S 64625 19.38
7/7/2010 512355 Anukaran Comm MOUNTAIN VIEW DEVELOPERS PRIVATE LIMITED B 32701 20.35
NSE Bulk Deals to Watch - July 7 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
07-JUL-2010,ABAN,Aban Offshore Ltd.,MORGAN STANLEY MAURITIUS COMPANY LTD,BUY,455329,839.99,-
07-JUL-2010,BSL,BSL Ltd,BHARAT SECURITIES PVT LTD,BUY,67587,47.50,-
07-JUL-2010,CELESTIAL,Celestial Biolabs Limited,SAR AUTO PRODUCTS LIMITED,BUY,131999,39.98,-
Banking stocks, RIL lead decline
The key benchmark indices registered their fourth decline in five trading sessions on Wednesday, 7 July 2010, as weak global stocks weighed on investor sentiment. Index heavyweights Reliance Industries (RIL) slumped. Banking, auto, realty and metal stocks fell. The BSE 30-share Sensex fell 143.46 points or 0.81%, off close to 170 points from the day's high and up close to 25 points from the day's low. The market breadth turned negative compared to positive breadth earlier in the day.
Daily News Roundup - July 7 2010
Tata Power said a consortium led by the company has been awarded three coal bed methane blocks for exploration in Satpura, Madhya Pradesh. (ET)
Dubai’s Istithmar sold its 6.9% stake in SpiceJet for US$25.3mn. (ET)
Sensex, Nifty surge on global recovery
After consolidating for the past two sessions, bulls were back in action as the Indian markets closed with healthy gains on Tuesday. Sentiment got a major boost after markets across the world recovered from recent lows.
Another slippery start
All progress is precarious, and the solution of one problem brings us face to face with another problem. Martin Luther King Jr.
World equity markets managed good bit of progress thanks largely to a sudden turnaround in the battered Chinese market. Risk tolerance improved with the dollar falling and the euro climbing. Crude oil is hovering near $72 a barrel mark while gold continued to slip.
Flat to negative start likely
Headlines for the day:
Bajaj may not form joint venture with Renault, Nissan
Govt gets ball rolling on FDI in retail
Indian Oil Corporation plans Rs700 crore power play
Eveready Industries
We recommend a buy in the stock of Eveready Industries India from a short-term perspective. It is apparent from the charts of the stock that it has been consolidating sideways in a broad range between Rs 55 and Rs 75 since September 2009. From a long-term perspective, the lower boundary level Rs 55 is a significant support level. The stock took support from this lower boundary in May 2010 and started to move up. While trending up the stock conclusively breached its 50 and 200-day moving averages in late June and is trading well above these averages. On Tuesday, the stock jumped 3.7 per cent with good volume, forming a bullish engulfing candlestick pattern. The 14-day relative strength index has re-entered in to the bullish zone from the neutral region and weekly RSI is on the brink of entering into this zone. Both daily and weekly moving average convergence divergence indicators are featuring in the positive territory. We are bullish on the stock from a short-term perspective. We anticipate the stock to move up further until it hits our price target of Rs 68 and then Rs 70 in the upcoming trading sessions. Short-term traders can buy the stock with stop-loss at Rs 64.
via BL
Tuesday, July 06, 2010
Attractive Midcap Stocks
By Sanjay Chhabria
Autoline Industries Ltd (Rs 128)
(BSE Code- 532797 NSE Code- AUTOIND)
(P/E- 7.6, Market Cap - 156 cr., FY10 Sales- Rs451 cr)
BSE Bulk Deals to Watch - July 6 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
6/7/2010 526955 ABL Biotech SILVER GOLDEN PROPERTY DEVELOP FIN INVESTMENT LIMITED B 60000 22.50
6/7/2010 526955 ABL Biotech SILVER GOLDEN PROPERTY DEVELOP FIN INVESTMENT LIMITED S 60000 22.49
NSE Bulk Deals to Watch - July 6 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
06-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,AKASH SECURITIES PRIVATE LTD,BUY,900000,17.67,-
06-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,1638238,18.07,-
To see more bulk deals - click on the link below
Sensex strengthens as world stocks rebound
Today's major news
Tata Power wins Satpura CBM block; the stock ends up 0.49%
NTPC, Government of India sign contracts; the stock closes 0.60% higher
Polaris Software surges on winning project; the stock ends3.83% higher
Nifty July 2010 futures at premium
Turnover surges
Nifty July 2010 futures were at 5,299.90, at a premium of 10.85 points compared to spot closing of 5,289.05. Turnover in NSE's futures & options (F&O) segment surged to Rs 59,652.35 crore from Rs 35,803.72 crore on Monday, 5 July 2010.
Asian markets surge after intraday reversal
Euro gains, Dow futures jump as risk appetite comes back in vogue
Asian markets eked out impressive gains after starting in a pessimistic manner in the second session of the week. The DOW futures launched a stupendous comeback and a generous rise in risk appetite lifted hard assets like crude oil and copper, pushing up resources. The markets seemed to have moved ahead of the Eurozone debt issues the liquidity scenario in the European banking system looked alright, as reflected in the stress test on the European banks last week. This fueled risk appetite and supported the Euro to rise towards 1.2600 against the dollar, bringing the six-week high levels yet again in contention for the pair.
Market snaps three-day slide as monsoon revives
The key benchmark indices surged, snapping last three days' losses as world stocks rose. The BSE 30-share Sensex jumped 173.04 points or 0.99%, up close to 310 points from the day's low and off close to 25 points from the day's high. Revival of monsoon rains in the past few days after weak rains last month, also underpinned sentiment. Metal, IT, banking and realty stocks surged. All the sectoral indices on BSE were in green.
Grey Market - Hindustan Media Ventures - Latest
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 112 to 118 | 7 to 7.50 |
| Technofab Engineering | 230 to 240 | 28 to 29 |
| | 162 to 175 | 6 to 7 |
Rakesh Jhunjhunwala Portfolio - Latest - May 2010
| Name Of Company | No. of Shares |
| AGRO TECH FOODS LTD. | 1,153,700 |
| AUTOLINE INDUSTRIES LIMITED | 731,233 |
| BILCARE LTD. | 1,735,425 |
| BILCARE LTD. | 267,500 |
| CRISIL LIMITED | 550,000 |
| DWARIKESH SUGAR INDUSTRIES LIMITED | 450,000 |
| GEOJIT BNP PARIBAS FINANCIAL SERVICES LIMITED | 18,000,000 |
| GEOMETRIC LIMITED | 3,860,000 |
| GEOMETRIC LIMITED | 850,000 |
| HINDUSTAN OIL EXPLORATION CO. LTD | 5,385,143 |
| HINDUSTAN OIL EXPLORATION CO. LTD | 1,887,273 |
| INFOMEDIA 18 LIMITED | 210,698 |
| INFOMEDIA 18 LIMITED | 489,479 |
| ION EXCHANGE (INDIA) LTD. | 650,000 |
| J.B.CHEMICALS & PHARMACEUTICALS LTD. | 1,251,650 |
| KAJARIA CERAMICS LTD | 2,502,642 |
| KARUR VYSYA BANK LTD | 2,041,224 |
| LUPIN LIMITED | 2,183,581 |
| LUPIN LIMITED | 1,065,254 |
| PRAJ INDUSTRIES LTD | 11,678,624 |
| PRAJ INDUSTRIES LTD | 2,798,000 |
| PRIME FOCUS LIMITED | 250,000 |
| PRIME FOCUS LIMITED | 632,500 |
| PROVOGUE (INDIA) LIMITED | 1,900,000 |
| PUNJ LLOYD LIMITED | 3,790,000 |
| RALLIS INDIA LTD. | 746,588 |
| RISHI LASER LTD. | 380,000 |
| TITAN INDUSTRIES LTD. | 2,787,755 |
| TITAN INDUSTRIES LTD. | 1,038,306 |
| VICEROY HOTELS LIMITED | 4,250,000 |
| VICEROY HOTELS LIMITED | 500,000 |
| VIP Industries | 1,263,000 |
| ZEN TECHNOLOGIES LTD. | 450,000 |
| ZEN TECHNOLOGIES LTD. | 450,000 |
NOT VERIFIED
Market may extend three-day slide
Indian stocks may extend last three days' losses, amid mixed Asian equities. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could fall 26.50 points at the opening bell.
Dull start, sideways session
It is the dull man who is always sure, and the sure man who is always dull. – HL Mencken.
You can’t be sure whether the nationwide ‘Bharat Bandh’ was successful or not is. The market remained dull and the story will continue today. The UPA has made it clear it is in no mood to yield to Opposition pressure on the issue of fuel prices. But, the fact remains that inflation is a major issue and the Government needs to take concrete steps to curtail the same; mere ad-hoc measures will not suffice. Monsoon may help soften the blow on inflation over the coming months, but in the near term one has no option but to endure the pain.
Market to open negative
Indian equities are likely to open negative on Tuesday, Jul. 6, 2010. SGX Nifty is trading at 5,220 (7.37 am), 26 points lower than Monday closing of 5,246.
Markets likely to get a soft start
Headlines for the day:
Network18 to restructure its listed entities
BP eyes stake sale as spill cost tops $3 billion
JSW Energy to commission 1,600MW Salboni plant by 2014
Daily News Roundup - July 6 2010
M&M plans to set up a 250-acre special economic zone catering to the aerospace sector near the Bangalore International Airport (ET)
TCS, Wipro and QuEST, in addition to Mahindra Aerospace and L&T, are among the vendors currently in discussions with the National Aerospace Laboratories for providing software, designing and manufacturing around 500 regional transport aircraft. (ET)
Sensex ends flat amid lack of participation
The Indian markets ended on a flattish note on Monday amid range bound trading session. Benchmark indices stayed in a very narrow trading band and struggled for direction through out the day. Buying was seen in the Pharma, Telecom and select IT stocks. On the other hand, the Oil & Gas and the Metals stocks were under pressure. The broader indices fared well as compared to benchmark indices.
Investors run away from RNRL
Traders and investors in Reliance Natural Resources, or RNRL, watched in dismay on Monday as more than a fourth of the company’s market capitalisation was wiped out in what is being seen as a strong response to an unfavourable share-swap ratio with group firm Reliance Power.
INOX Leisure
Investors with short-term trading perspective can buy the stock of Inox Leisure. The stock was in a medium-term downtrend slipping incessantly from the February peak of Rs 92. This slide halted at Rs 54 towards the end of May and a short-term uptrend is in progress since then. Within this uptrend, the stock was stuck in a range between Rs 60 and Rs 63 over the last three weeks. The strong uptrend recorded in the last trading session helped the stock close above the upper boundary of this short-term trading zone.
Monday, July 05, 2010
Sensex ends flat; RCom, Hindalco, ONGC fall
Indian equities settled flat on Monday with negative biased. At the close, the benchmark 30-share index, BSE Sensex lost 19.51 or 0.11% at 17,441.44, while the broad based NSE Nifty closed flat with a decline of 1.20 points or 0.02%, at 5,235.90.
BSE Bulk Deals to Watch - July 5 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
5/7/2010 517356 ACI Infocom SANJAY AGARWAL HUF B 150000 30.20
5/7/2010 517356 ACI Infocom MANOJ P LUNKAR S 55000 30.20
5/7/2010 500034 Bajaj Auto Fin BAJAJ FINSERV LIMITED B 2116900 471.90
5/7/2010 500034 Bajaj Auto Fin BAJAJ HOLDINGS AND INVESTMENT LIMITED S 2116900 471.90
NSE Bulk Deals to Watch - July 5 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
05-JUL-2010,FIEMIND,Fiem Industries Limited,PRIMORE SOLUTIONS PVT.LTD,BUY,73408,175.33,-
05-JUL-2010,SELMCL,SEL Manufacturing Company,AKASH SECURITIES PRIVATE LTD,BUY,311991,60.00,-
05-JUL-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,BUY,777657,60.84,-
05-JUL-2010,FIEMIND,Fiem Industries Limited,PRIMORE SOLUTIONS PVT.LTD,SELL,78944,174.68,-
05-JUL-2010,POLARIS,Polaris Software Lab Ltd,ORBITECH LIMITED,SELL,749364,184.42,-
05-JUL-2010,SELMCL,SEL Manufacturing Company,AKASH SECURITIES PRIVATE LTD,SELL,311991,60.73,-
05-JUL-2010,SELMCL,SEL Manufacturing Company,SAFFRON FINANCE LIMITED,SELL,777657,60.38,-
05-JUL-2010,SUNFLAG,Sunflag Iron And Steel Co,CHARANJIV DHAWAN,SELL,1000000,29.15,-
05-JUL-2010,TNPL,Tamil Nadu Newsprint ,GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD,SELL,499235,114.00,-
Volumes dry, markets flat on Bandh
Today's major news
Arston Engineering bags order; the stock closes 3.36% lower
Consolidated Construction Consortium builds on new orders; the stock ends 2.92% higher
Four Soft inks pact with Aries Global; the stock closes 1.53% lower
SBI, RIL July 2010 futures at premium
Turnover declines sharply due to nationwide strike
Nifty July 2010 futures were at 5,246, at a premium of 10.10 points compared to spot closing of 5,235.90. Turnover in NSE's futures & options (F&O) segment was Rs 35,803.72 crore, much lower than Rs 64,641.19 crore on Friday, 2 July 2010. The turnover declined sharply due to a nationwide strike called by opposition parties to protest against the government's decision to raise fuel prices.
Annual Report - Wipro - 2009-2010
WIPRO LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The Members
Dear Shareholders,
I am happy to present on behalf of the Board of Directors, the 64th
Directors' Report for the year ended March 31, 2010, along with the Balance
Sheet and Profit and Loss Account for the year.
RNRL tumbles, RPower jumps after setting swap ratio for merger
The key benchmark indices edged marginally lower in lacklustre trade, with volumes hit by a nationwide strike called by opposition parties to protest against the government's decision to raise fuel prices. Banking stocks shrugged off an unexpected hike in key policy rates by the Reserve Bank of India, which was announced after trading hours on Friday, 2 July 2010. But, PSU OMCs, realty, metal stocks fell. Index heavyweight Reliance Industries (RIL) was flat. Reliance Natural Resources (RNRL) slumped following an unfavorable swap ratio for its merger with group company Reliance Power (RPower). RPower jumped.
Technofab Engineering Grey Market Premium jumps
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 112 to 118 | 7 to 7.50 |
| Technofab Engineering | 230 to 240 | 28 to 29 |
| | 162 to 175 | 6 to 7 |
Daily News Roundup - July 5 2010
Shareholders of RNRL will get one share of Reliance Power for every four shares held by them, the board of directors of both the companies decided, while approving the merger of RNRL with RPower. (BL)
Ranbaxy Laboratories transfers its research division for new drugs to Japan’s Daiichi Sankyo. (ET)
Tata Motors' CV sales rise 33% YoY in June. (BL)
Reliance Power is likely to apply to the government for allocation of natural gas. (BS)
GAIL (India) is in the process of laying a 2,500km natural gas pipeline covering Karnataka, Kerala, Tamil Nadu and Maharashtra at a cost of Rs100bn. (BL)
Uflex is all set to make forays into Africa with its state-of-the-art plant in Egypt starting production this month. (ET)
Glodyne Technoserve has completed the acquisition of the US-based technology company DecisionOne from its shareholders for US$104mn.(ET)
Strides Arcolab has convened an extra-ordinary general meeting on July 23 to seek approval from shareholders for raising equity worth nearly US$100mn. (ET)
Crisil has upgraded the debt instruments of ICICI Bank to ‘stable’ from ‘negative’. (ET)
SREI Infra in talks to raise PE fund up to Rs46bn. (BS)
Marico to rejig Kaya Clinic outlets to cut losses. (BS)
General Motors plans to file its nearly US$20bn IPO in mid-August. (BS)
The RBI hikes reverse repurchase rate to 4%, from 3.75% and Repurchase rate is increased to 5.5%, from 5.25%. (ET)
Prime Minister Manmohan Singh says the government is working towards a regulatory and policy framework, which will be attractive enough to absorb investments worth US$120bn in the aviation sector by 2020. (BS)
The Finance Ministry indicated that the revised Direct Taxes Code draft may stick to denying tax sops to special economic zones. (BS)
Mutual funds industry witnesses the worst ever fall in assets under management in June 2010. (FE)
Govt rules out rollback of fuel price
The government has ruled out to roll back increase in fuel prices, even as opposition National Democratic Alliance (NDA) called for an all-India bandh today (July 5, 2010) to protest the price hike and rising inflation.
"No question of roll-back," Finance Minister Pranab Mukherjee told reporters, when asked whether the government could review its June 25, 2010 decision of raising prices of petroleum products.
Meanwhile, NDA Working Chairperson L K Advani after a meeting of its leaders, said, "This may be the first time in the history of India's politics that almost all political parties will participate in the Bharat Bandh."
The government last month raised prices of petrol, diesel and kerosene by Rs3.50, Rs2 and Rs3 a litre, respectively and increased the rate of cooking gas by Rs35 a cylinder.
Precious metals witness mixed end
Bullion metals cough up substantial weekly losses
Bullion metal prices ended mixed on Friday, 02 July 2010 at Comex with gold prices ending little higher but silver prices dropping. Prices seesawed for the entire day as and lacked much direction in thin trading ahead of the long holiday weekend.
Crude ends lower
Crude registers first weekly loss in a month
Crude oil prices ended lower on Friday, 02 July 2010 at Nymex. Prices fell as uncertainty and fears about the health of the U.S. economy came in focus again as traders mulled over a mixed jobs report and a steeper-than-expected drop for factory sales.
Bandh blues may fade away
"Politics is for the present, but an equation is for eternity." Albert Einstein.
The nationwide ‘Bharat Bandh’ is not expected to change the political equation. In the worst case scenario, it may paralyse normal life. So, expect lower turnouts in offices, schools and other institutions. As far as markets are concerned, trading volume may take some hit and lead to some volatility. Given the uncertain global scenario we expect the overall mood to be cautious ahead of the corporate earnings.
Sensex swings between positive and negative zone
The key benchmark indices swung between gains and losses in early trade after the Reserve Bank of India after trading hours on Friday, 2 July 2010, hiked key interest rates by 25 basis points to tame inflation. Interest rate sensitive banking stocks rose while realty stocks fell after the rate hike. Reliance Natural Resources (RNRL), slumped due to unfavorable swap ratio for its merger with group company Reliance Power (RPower). RPower surged.
GNFC
Investors with medium-term perspective can consider investing in the stock of Gujarat Narmada Valley Fertilizers Company (Rs 114.2). In late 2008, the stock found support at Rs 50 and started to trend upwards.
While trending upward, the stock emphatically penetrated key resistances at Rs 80, Rs 90 and Rs 105. However, after recording a 52-week high at Rs 135 in January 2010, the stock had been on a medium-term downtrend until it found support at Rs 105 in late May this year.
Sunday, July 04, 2010
Nifty may move in 5,050-5,400 range
The markets ended the volatile week with marginal losses. Global cues, especially from the US and the UK, dominated our markets. The Sensex touched a high of 17,795 early in the week and thereafter dropped to a low of 17,374. The index finally settled with a loss of 114 points at 17,461.
Roller coaster week as volatility persists
Major news for the week:
Reserve Bank of India hikes key rates by 25 bps
Bajaj Auto June sales up 63% yoy
May exports grow 35% to $16.1 billion
Foreign Direct Investment in May up 5.6%
Food inflation softens to 12.92%
Samruddhi Cement
Investors with a two-three year perspective can buy the stock of Samruddhi Cement Limited (Rs 475)- the demerged cement business of Grasim Industries that listed on the bourses last week.
The stock is a value pick within the cement sector, given its moderate valuation, control over the northern market, and low leverage that gives it the scalability to expand and add capacities.
Oil India
When it rains it pours, or so has been the case for the public sector upstream oil companies, over the past couple of months. The downpour of good news has been heavy — the more than doubling in price of administered pricing mechanism (APM) gas, market-linked prices for additional gas from nominated blocks and the landmark reforms towards fuel price decontrol.
JSW Steel
Investors may consider retaining the stock of JSW Steel in view of the company's proven execution ability, improved product mix and volumes which should enable it to capitalise on growing demand from the infrastructure, automotive and consumer durables segment.
IRB Infrastructure Developers
The stage is set for road projects to take off after the new norms for bidding have been put in place. Well-entrenched players such as IRB Infrastructure Developers would emerge as the natural beneficiaries of road orders, after this move.
All about car insurance
Are you planning to buy a car? Then, along with the time you devote to reading reviews and test-driving cars, check out how best to insure the vehicle.
Weekly Stock Picks - July 4 2010
Buy Chennai Petro
Buy Century Textiles
Buy IDFC
Buy Canara Bank
Buy GNFC
Weekly Newsletter - July 4 2010
Well, the bulls and bears would have happily gone home at the end of a lackluster day and an eventful week, in which the Indian market emerged largely unscathed following yet another global scare. Every time the bears threatened to unsettle the bulls the key indices managed to bounce back. The same resilience of the Indian market could be put to test next week as market players will have to contend with the RBI rate hike, a mixed US jobs data and the RNRL-Reliance Power merger. Monday being a holiday in the US, world markets might struggle for direction. But, the Indian market will have plenty to play for as it gets ready for the next batch of quarterly earnings.
RNRL, Reliance Power to consider merger on July 4
The boards of directors of Reliance Natural Resources Ltd. (RNRL) and Reliance Power Ltd. will meet on July 4, to consider a merger of the two anil dhirubhai ambani group (ADAG) companies. Earlier, media reports had suggested that RNRL and Reliance Power could merge, sending the shares of the two companies higher. The announcement is significant as it comes close on the heels of the two Ambani siblings rescinding a long-standing non-compete agreement, allowing them to expand into each other's sectors.
India’s food inflation slips to 12.92%
India’s food inflation slipped to 12.92% in the week ended June 19 as compared to 16.90% in the previous week. Inflation in the Food Articles group stood at 12.57% in the corresponding period last year. The index for 'Food Articles' group rose by 0.3% to 296.3. Inflation in the Primary Articles group too declined in the week under review to 14.75% from 17.6% in the previous week. The annual rate of inflation, calculated on point to point basis, for this group stood at 7.57% during the week ended June 20, 2009. The index for this major group rose by 0.2% to 301.8 from 301.3 for the previous week. Inflation in the Non-Food Articles group inched lower to 18.80%, from 18.86% in the week ended June 12 while the same was at -0.12% in the week ended June 20, 2009. The index for this group declined by 0.1% to 286.3. Inflation in the Fuel & Power group fell to 12.90% in the week ended June 19 from 13.18% in the preceding week. Inflation in this group stood at (-) 12.42% during the corresponding week of the previous year. The index for this major group remained unchanged at its previous week’s level of 370.2.
Worldwide IT spending to grow 3.9% in 2010: Gartner
Worldwide IT spending is forecast to total US$3.350 trn in 2010, an increase of 3.9% from 2009 spending of US$3.225 trn, according to the latest outlook by Gartner, Inc. Gartner has lowered its outlook for the IT industry from the first quarter of this year when it forecast worldwide IT spending to grow 5.3%, primarily due to the devaluation of the euro versus the U.S. dollar since the beginning of the year.
BPLR is dead...Long live the base rate
Effective July 1, all banks operating in India started adopting a new system of base lending rate, replacing the old system of BPLR (base prime lending rate) introduced in 2003. SBI was the first to fix its base rate at 7.5%, while other large nationalised banks all fixed their base rate at 8%. HDFC Bank fixed its base rate at 7.25%, while ICICI Bank and Axis Bank fixed the same at 7.5%. The base rate for public sector banks is in the range of 7.5% to 8.25%, while that for private sector and foreign banks is lower by 50-100 basis points.
RBI hikes repo rate, reverse repo rate by 25 bps
The following is the full text of the Monetary Policy and Liquidity Management Measures announced by the Reserve Bank of India (RBI) today.
On an assessment of the current macroeconomic situation, it has been decided to take the following monetary policy measures as a part of the calibrated exit from the expansionary monetary policy:
Saturday, July 03, 2010
Annual Report - State Bank of Travancore - 2009-2010
STATE BANK OF TRAVANCORE
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
1. MANAGEMENT DISCUSSIONS & ANALYSIS
1.1 Global Economy:
There has been a discernible improvement in the global economy since the
deep global economic slump and financial market turmoil in the latter half
of the previous financial year. The recovery is underpinned by output
expansion in Emerging Market Economies (EMEs), particularly in Asia. World
output has improved, manufacturing activity has picked up, trade is
recovering, financial market conditions are improving, and risk appetite is
returning. The immediate effect of the rebound in the global economy could
be seen in the financial markets, which have posted spectacular gains in a
short period of time. There are concerns, however, that the recovery is
fragile. Even as output is reviving, unemployment rate is expected to
increase to double digits. Investment is also expected to remain weak due
to ruptured balance sheets, excess capacity and financing constraints. Bank
collapses are continuing. World trade still remains below its level a year
ago. On balance, while global economic prospects have improved,
uncertainties remain about the pace and sustainability of economic
recovery.
Annual Report - State Bank of Bikaner and Jaipur - 2009-2010
STATE BANK OF BIKANER AND JAIPUR
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
REPORT OF THE BOARD OF DIRECTORS TO THE STATE BANK OF INDIA, THE RESERVE
BANK OF INDIA AND THE GOVERNMENT OF INDIA IN TERMS OF SECTION 43(1) OF THE
STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT 1959.
Annual Report - State Bank of Mysore - 2009-2010
STATE BANK OF MYSORE
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The State Bank of India,
Reserve Bank of India and the Central Government, in terms of Section 43(1)
of State Bank of India (Subsidiary Banks) Act, 1959.
Annual Report - Pricol - 2009-2010
PRICOL LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
Your Directors have pleasure in presenting the Thirty Eighth Annual Report
and audited accounts for the financial year ended 31st March 2010.
Annual Report - Oil Country Tubular - 2009-2010
OIL COUNTRY TUBULAR LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The Members,
The Directors have pleasure in presenting the Twenty Fourth Annual Report
on the Business of the Company and the Audited Statements of Accounts for
the year ended 31st March, 2010 and Auditors report thereon.
Annual Report - Asian Paints - 2009-2010
ASIAN PAINTS LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The Members
Dear Members,
Your Directors have pleasure in presenting the 64th Annual Report of your
Company and the Audited Accounts for the financial year ended 31st March,
2010.
Annual Report - Torrent Pharma - 2009-2010
TORRENT PHARMACEUTICALS LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The Shareholders
The Directors have the pleasure of presenting the Thirty Seventh Annual
Report of your Company together with the audited accounts for the year
ended 31st March, 2010.
Friday, July 02, 2010
RBI raises repo, reverse repo rates by 25 bps
The Reserve Bank of India (RBI) today, July 2 raised the short-term lending and borrowing rates by 25 basis points with immediate effect, a move which it aims will help contain inflation.
The move comes weeks ahead of the scheduled policy review by RBI on July 27 and a day after the government announced that food inflation dipped by about a quarter to about 12%.
The central bank raised both, repo and reverse repo rates (the rates at which the RBI lends and borrows short-term funds from commercial banks), by 25 basis points to 5.50 per cent and 4%, respectively.
The move would raise cost of funds for banks and temper demand for loans, and in turn, consumer spending.
BSE Bulk Deals to Watch - July 2 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
2/7/2010 517356 ACI Infocom MANOJ P LUNKAR B 100000 26.25
2/7/2010 517356 ACI Infocom DIVYA ALOK GUPTA S 150000 26.26
2/7/2010 530901 ACIL Cot Inds ABHIJIT RAMESH MOHOD B 76137 38.78
2/7/2010 530713 Ajel Info VOLGA INTERNATIONAL LIMITED B 50833 27.83
NSE Bulk Deals to Watch - July 2 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
02-JUL-2010,APTECHT,Aptech Limited,THE ROYAL BANK OF SCOTLAND N.V.,BUY,450000,135.63,-
02-JUL-2010,BHARATGEAR,Bharat Gears Ltd,EXECUTE MERCANTILE PVT LTD,BUY,50000,69.76,-
02-JUL-2010,BSL,BSL Ltd,SAR AUTO PRODUCTS LIMITED,BUY,85000,41.57,-
Technofab Engineering IPO subscribed 12.2 times
Gets bids for 3.64 crore shares
The initial public offer (IPO) of Technofab Engineering has received strong investor response. The issue was subscribed 12.2 times. The IPO got bids for 3.64 crore shares, compared with 29.9 lakh shares on offer.
BREAKING : RBI raises key rates by 25bps
Reserve Bank of India on Friday raised short-term lending and borrowing rates by 25 basis points to 5.50 per cent and 4 per cent respectively.
Hindustan Media Ventures IPO Analysis
Hindustan Media Ventures (HMVL) is promoted by the HT Media, an integrated multimedia company. HMVL publishes and prints ‘Hindustan', the third largest daily newspaper in India by readership (9.9 million readers, according to IRS, Q1 2010). The company also publishes two Hindi magazines, ‘Nandan‘, a children‘s magazine, and ‘Kadambini‘, a general interest magazine. In addition to its Hindi print publications, it also operates the website, www.livehindustan.com, which focuses on providing news in Hindi with regional content. Further, HMVL recently forayed into event management and customized event solutions.
Metal shares slide, PSU OMCs rally
Indian stocks swung between gains and losses almost every alternate day, last week, largely taking cues from volatile global equities. The Sensex declined in three out of the five trading sessions in the week ended 2 July 2010. Metal stocks fell on weak Chinese economic data whereas IT stocks fell on dismal US economic data. Bank stocks declined on rate hike worries.
Q1 June 2010 results, monsoon progress hold key
The next major trigger for the market is Q1 June 2010 results of India Inc, which will start trickling in from the second week of July 2010. Advance tax collections for the first quarter of the current financial year point to a strong growth in corporate sector profits. Advance tax payments by companies during the April-June quarter account for 15% of the total advance tax payable in the fiscal year.
Market declines for the second straight day
The key benchmark indices fell for the second straight day as investors resorted to profit taking ahead of the weekend. Asian and European stocks rose ahead of key US employment data due out later in the global day. The market breadth was even. Earlier in the day the breadth was strong. Banking, realty and metal stocks fell. Auto stocks were mixed.
Precious metals turn extremely pale
Prices register big one-day drop in percentage terms in a long time
Bullion metal prices ended substantially lower on Thursday, 01 July 2010 at Comex. Prices shed gains in tandem with US equities and other commodities across the board. Both gold and silver registered big one-day percentage drops in a long time.
Crude plunges
Weak set of economic data weighs on crude
Crude oil prices ended substantially lower on Thursday, 01 July 2010 at Nymex. Prices fell in tandem with US stocks due to weak set of economic data that hit the wires at Wall Street today.
Grey Market Premiums - Aster Silicates, Technofab Engineering, Hindustan Media Ventures
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Aster Silicates Ltd. | 112 to 118 | 8 to 8.50 |
| Technofab Engineering | 230 to 240 | 12 to 13 |
| | 162 to 175 | 6.5 to 7 |
Markets expect flat opening
Headlines for the day:
Tata Motors overtakes Hyundai in June
Axis, Fortis promoters to fund Parkway bid
RCom buys India's largest cable firm
Market may edge higher on firm Asian stocks; RCom eyed
The market may edge higher in early trade as most of Asian stocks rose. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicated that the Nifty could gain 6 points at the opening bell.
In stock specific action, Reliance Communications after market hours on Thursday announced the acquisition of one of India's largest cable service provider, Digicable, in a cashless, all-stock deal. Reliance will demerge its direct-to-home (DTH) and IPTV business, now under the Reliance BigTV brand and the domestic retail broadband business of Reliance Communications, into a new entity along with the newly acquired Digicable. The new entity will be called Reliance DigiCom and Digicable will be given a stake in this entity.
Daily News Roundup - July 2 2010
ONGC Board has in-principle approved the cluster development of four marginal fields in the Western offshore. (BL)
After more than two years, Tata Motors has dislodged Korea’s Hyundai Motors in India from the second spot in monthly domestic passenger vehicle sales. (BS)
RCom today announced acquisition of one of India’s largest cable service providers, Digicable, in a cashless all-stock deal. (BS)
Tata Power to raise Rs14bn via coal SPVs. (FE)
HDFC Bank is now looking for a south-based bank for its next phase of merger. (FE)
Raymond’s plan to utilise 125 acres of land at its Thane plant for residential and commercial purposes has met with strong objection from the Maharashtra Government. (BS)
ITC is setting up another unit at its existing paper mill in Bhadrachalam at a cost of Rs10bn. (BS)
The GMR Group has decided to keep on hold an agreement on distribution of promoters stakes among family members. (ET)
The Government approves $5.25 per mmBtu for ONGC gas. (ET)
Axis Bank targets 12,000 villages in five years time under financial inclusion plan. (ET)
Sterlite Energy, the flagship company of Vedanta Resources, has ignited the first unit (600 MW) of its 2,400MW power plant at Jharsuguda. (BS)
The Blackstone Group has secured 12.5% stake for Rs2.8bn in Monnet Power, a 100% subsidiary of Monnet Ispat and Energy. (BS)
BK Birla's daughter, Manjushree Khaitan, to be Kesoram vice-chairman. (BS)
Kesoram Industries to invest Rs11.3bn on cement capacity expansion and additional power generation. (BL)
SpiceJet may get an expatriate CEO after Sanjay Aggarwal quit the post. (BS)
MRPL, a subsidiary of ONGC, will revisit its fuel retail business plans as the government has decontrolled petrol prices. (BS)
Kinetic ties-p with Italian company for engineering services for infra projects. (BL)
Mangalam Cement studying Mangalam Timber's merger proposal. (BL)
Tata Chemicals is planning to invest Rs35-40bn to double urea production capacity at its Babrala facility in Uttar Pradesh. (BL)
Puravankara Projects announced a new project, Purva Skywood, in Bangalore that would see development of 1.25mn sqft of residential space spread over 12.5 acres. (BL)
Federal Bank to open 31 new branches in Kerala this week. (BL)
Vijaya Bank has applied to the Government of India for Tier-I capital. (BL)
Food inflation declined by a significant 4% to 12.9% for the week ended June 19 due to a high base effect and timely arrival of monsoon rains. (BS)
FDI in DTH raised to 74% and FM radio to 26%. (FE)
Department of industrial policy & promotion (DIPP) has initiated an exercise to tweak the foreign direct investment policy for wholesale trading. (ET)
SEBI has made it tougher for non–finance businesses, which has less than five-year of financial services experience, not permitting it to own stake in an asset management company. (ET)
May export surges to US$16.1bn, up 35.1% yoy. (BS)
Maharashtra Government is considering imposition of betterment charge and service tax on developers of residential and commercial complexes adjacent to the mega-infrastructure projects lined up in Mumbai. (BS)
The Centre’s fiscal deficit stood at Rs1lakh crore during April-May 2010, constituting over a fourth of the budget estimate for the entire year. (BS)
Funds raised by corporate India through syndicated loans and equity issuances have more than trebled to about Rs578bn for the half-year ended June 2010. (BL)
The European sovereign debt crisis will cause companies and governments in the region to curtail IT spending for 2010, according to Gartner and Forrester. (BL)
On reverse gear…Sensex slumps over a ton
The Indian markets ended in the red as weakness in the manufacturing PMI data and monthly auto sales overshadowed another strong month of trade data. Sentiment also remained subdued on account of downbeat global economic reports.
Bulls may dance!
Life may not be the party we hoped for, but while we're here we should dance. - Anonymous.
The market may have tumbled but it was not as bad as it appeared; the market breadth did not collapse and the decline came on lower volume. Also, outflows from the foreign funds were only marginal in the cash segment. Given that backdrop, we expect the market to resume its ascent today after a slow start. Most Asian markets, barring Hong Kong, are trading in the green. Markets in Hong Kong were shut on Thursday.
Market may see flat-to-negative opening
Indian equities are likely to open negative on Friday, Jul. 2, 2010. SGX Nifty is trading at 5,249 (7.50 am), 9.50 points lower than Thursday closing of 5,258.5.
Asian stocks fluctuated as U.S. reports on manufacturing, employment and home sales fueled concerns about economic growth and damped an early rally led by mining companies. Japanese benchmark index Nikkei 225 fell 5.79 points, or 0.06%, to trade at 9,185.81.
Neyveli Lignite
We recommend a buy in the stock of Neyveli Lignite Corporation from a short-term perspective. After recording a 52-week high at Rs 177 on January 19, the stock was on a medium-term downtrend until it found support around Rs 140 in late May. The level Rs 140 is a significant long-term support for the stock. Subsequently, the stock bounced up and has been on a short-term uptrend. Moreover, the stock appears to have resumed its long-term uptrend that has been in place since its October 2008 low of Rs 44.5. The stock decisively breached through its moving average compression around Rs 147 in early June. It is trading well above its 21 and 50-day moving averages. The stock's 2.5 per cent jump with above average volume on July 1 has reinforced the short-term bullish momentum. The daily relative strength index is featuring in the bullish zone and weekly RSI is heading towards this zone in the neutral region. The weekly price rate of change indicator has entered the positive territory implying that buying interest has resumed. Our short-term outlook on the stock is positive. We expect it to move up until it hits our price target of Rs 166 or Rs 170 in the approaching sessions. Short-term traders can buy the stock with stop-loss at Rs 154.
via BL
Thursday, July 01, 2010
Annual Report - VIP Industries - 2009-2010
VIP INDUSTRIES LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
To
The Members
Your Directors are pleased to present the 43rd Annual Report together with
the Audited Accounts of your Company for the financial year ended 31st
March 2010.
Annual Report - Whirlpool - 2009-2010
WHIRLPOOL OF INDIA LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
The Directors' are pleased to present their 49th Annual Report and Audited
Accounts for the year ended 31st March 2010.
Annual Report - Sterlite Industries - 2009-2010
STERLITE INDUSTRIES (INDIA) LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
Dear shareholders,
The Directors of your Company are pleased to present the 35th Annual Report
together with the statement of audited accounts for the financial year
ended 31 March 2010.
Annual Report - Kansai Nerolac - 2009-2010
KANSAI NEROLAC PAINTS LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
Dear Members,
Your Directors' are pleased to present the 90th Annual Report and the
Audited Accounts for the year ended 31st March, 2010.
Annual Report - ITC - 2009-2010
ITC LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
Your Directors submit their Report for the financial year ended 31st March,
2010.
Annual Report - ING Vysya - 2009-2010
ING VYSYA BANK LIMITED
ANNUAL REPORT 2009-2010
DIRECTOR'S REPORT
The Board of Directors have pleasure in presenting the Seventy Ninth Annual
Report of the Bank together with the Audited Statements of Accounts for the
year ended 31-Mar-2010, Auditors' Report thereon and other documents and
statements as are required.
Chinese dragon pulls down Indian bulls
Today's major news
Maruti Suzuki’s June sales grow by 17.3%; the stock closes 1.70% lower
Food inflation softens to 12.92%
Mahindra & Mahindra’s total sales rise 7% in June; the closes 1.51% down
Nifty July 2010 futures at premium
Turnover declines
Nifty July 2010 futures were at 5259, at a premium of 7.6 points over spot closing of 5251.40. Turnover in NSE's futures & options (F&O) segment fell to Rs 76,036.79 crore from Rs 80,424.10 crore on Wednesday, 30 June 2010.
Reliance Infrastructure July 2010 futures were at premium at 1222.10 compared to the spot closing of 1214.
HPCL July 2010 futures were at a premium at 472.70 compared to the spot closing of 470.15.
BPCL July 2010 futures were at premium at 664.15 compared to the spot closing of 659.05.
In the cash market, the S&P CNX Nifty fell 61.10 points or 1.15% at 5251.40.
Hindustan Media Ventures sets Rs 162-175 per share price band for IPO
The IPO opens for bidding on 5 July 2010
The initial public offer (IPO) of Hindustan Media Ventures, the publisher of Hindi daily Hindustan, opens for bidding on Monday, 5 July 2010. The company has set Rs 162-175 per share price band for the IPO. The IPO, through which the media house plans to raise up to Rs 270 crore, closes on 7 July 2010.
Hindustan Media Ventures is a subsidiary of HT Media, the publisher of leading English dailies the Hindustan Times and Mint. The company intends to utilise the IPO proceed for its expansion plans.
Dalal Street closes in slump; Sensex loses 192 pts
Indian equities dropped on Thursday erasing earlier gains. The Sensex ended on a depressing note following weak European cues. On sectoral front, metal, realty, auto and IT stocks traded in red which also weighed on the sentiment. Even a sharp fall in food inflation didn`t excite the markets.The broader markets however outperformed to close on a flat note. Auto sales figures were out today.The market opened flat with negative bias tracking negative Asian peers and slipped further as selling intensified across board. Finally, the index wrapped on a weak note after touching a low of 17,455.41.
BSE Bulk Deals to Watch - July 1 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/7/2010 517356 ACI Infocom SANJAY AGARWAL HUF B 100000 27.40
1/7/2010 517356 ACI Infocom DIVYA ALOK GUPTA S 150000 27.43
1/7/2010 530713 Ajel Info ARIKATLA SRINIVASA REDDY S 200000 26.37
NSE Bulk Deals to Watch - July 1 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,ARIHANT SECURITIES,BUY,1000000,18.15,-
01-JUL-2010,BAGFILMS,B.A.G Films and Media Ltd,SAFFRON FINANCE LIMITED,BUY,719475,18.13,-
01-JUL-2010,BHAGWATIHO,Bhagwati Banquets and Hot,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,167872,108.40,-