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Friday, August 20, 2010

Listless session ends with modest losses

Today’s major news

Reliance Communications join hands with Nokia; the stock ends 0.49% down

Bharat Petroleum Corporation gains on buying Australian shale gas asset; the stock ends 3.24% up

Time Technoplast hits 52-week high on acquisition; the stock closes 1.33% higher

BSE Bulk Deals to Watch - Aug 20 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/8/2010 530901 ACIL Cot Inds JAYSHREE SHANKAR BHOSLE B 73150 38.46
20/8/2010 532331 Ajanta Pharma CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 112847 238.25

NSE Bulk Deals to Watch - Aug 20 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-AUG-2010,AJANTPHARM,Ajanta Pharma Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,112847,237.45,-
20-AUG-2010,ASTEC,Astec LifeSciences Ltd,MANISH VRAJLAL SARVAIYA,BUY,292904,78.85,-

Nifty August 2010 futures at discount

Turnover declines

Nifty August 2010 futures were at 5,521.35, at a discount of 9.30 points compared to the spot closing of 5,530.65. Nifty September 2010 futures were near spot price at 5,530.50 compared to the spot closing of 5,530.65.

Severe bout of sell off for Asian stocks

Markets back to losing ways as weak US data continues to fan worries

The Asian markets eased today, witnessing a severe bout of sell off as the weak overnight US cues hurt the sentiments. Traders were seen selling in the wake of a very poor labor market data, which came in as a rude shock after a couple of decent reports in the middle of the week. It also underpinned that the US is in the middle of what could be called as a jobless recovery that the safe haven assets continued to gain, inflicting a heavy damage to the equities. US initial claims for unemployment benefits rose by 12,000 in the week ended Aug. 14, the Labor Department said. Claims totaled 500,000 in the week, the highest number since Nov. 14, 2009. Dow slumped around 200 points in intraday moves and closed down 144.33 points or 1.4 % to 10,271.21

Pharma shares rally

The key benchmark indices edged lower, snapping two-day gains, as profit booking and weak global cues played spoilsport. European and Asian markets declined today weighed by poor US economic data, which reignited global economic worries. The BSE 30-share Sensex was down 53.12 points or 0.29%, off 62.32 points from the day's high and up 40.92 points from the day's low.

Daily Market Strategy - Aug 20 2010

Daily Market Strategy - Aug 20 2010

Daily Technical - Aug 20 2010

Daily Technical - Aug 20 2010

Morning Note - Aug 20 2010

Morning Note - Aug 20 2010

Prakash Steelage Grey Market Premium

Company Name

Offer Price




Prakash Steelage


7 to 8

Gujarat Pipavav Port

42 to 48

8 to9


Global cues could shorten party!

Pain is inevitable. Suffering is optional. - MK Casey

Just yesterday, the indices were racing ahead kicking away any concerns that came their way. Today is a different day; after touching 30-month highs, the Indian indices could see some pressure given the global cues this morning.

Daily News Roundup - Aug 20 2010

RIL-NTPC dispute over D6 heading for truce. (BS)

RCom ropes in four executives for wireless management board. (BL)

Fiat JV revival becomes a priority for Tata Motors. (BS)

Dr Reddy's in talks with Japanese pharma cos for tie-ups. (BL)

Lanco Infratech has partnered with Indonesian coal mining company Bukit Asam to bid for a 600 megawatt power project. (BS)

ONGC may have to pay US$13bn if it were to exercise its pre-emption or right of first refusal to buy Cairn India in the giant Rajasthan block (ET)

Huaneng Group may pay GMR Infrastructure US$1.4bn to buy 50% of InterGen (ET)

Dr Reddy's Laboratories and the Indian School of Business (ISB) on Thursday signed a memorandum of understanding to set up ‘Dr Reddy’s Cell for Employability and Skilling’ at the ISB. (BS)

Lanco Infra expects two tollways under development in Karnataka to be commissioned later this year along and adding to cash flows. (BL)

HCL Infosystems enters the gaming zone. (BS)

Patni to start entrepreneurship programme for employees. (BS)

BEML, Coal India, Damodar Valley close to finalising joint venture equity structure. (BL)

Emami is again on the prowl to acquire FMCG companies in India and abroad. (BL)

Central Bank arm to offer loan syndication, merchant banking services. (BL)

With a view to boost its commercial vehicle finance portfolio, Allahabad Bank has entered into a tie-up with Ashok Leyland. (BL)

Sadbhav Engineering's wholly-owned arm, Sadbhav Infrastructure Project (SIPL), has got Rs4bn equity funding from global investors. (BL)

Greaves Cotton plans to build an automotive engine manufacturing plant in Aurangabad for ~Rs1bn (ET)

Federal Bank has introduced real time money transfer facility from Gulf Cooperation Council (GCC) countries. (BL)

Dhanlaxmi Bank has increased the interest rates on domestic term deposits by 25-75 bps across maturities with immediate effect. (BL)

Royal Orchid Hotels will raise up to Rs1.5bn to fund its new projects (ET)

MIC Electronics has bagged orders worth ~Rs200mn, majority of them being from the Indian Railways (ET)

Food inflation stood at 10.35% on a yoy basis during the week to August 7, lower than the 11.4% annual rise reported in the previous week. (BL)

Policy bottlenecks may further delay GST rollout. (BS)

The government was looking into the proposal of allowing foreign airlines invest in domestic carriers. (BS)

Banks may have to reveal use of funds raised via CPs. (BS)

The Government may come out with more representative data on industrial production by this year-end by adding nearly 150 new items and deleting the obsolete ones from the index (ET)

The Reserve Bank of India has strongly advocated the use of public-private partnership (PPP) to fund infrastructure projects in the country. (BL)

Asian Development Bank likely to revise upwards its growth and inflation projections of India for FY11. (BS)

Nifty ends near 30-mth high…Banks, RIL shine

The Indian markets ended near 30-months high on Thursday. In the opening trades the upswing was led by the index heavyweight Reliance Industries, the momentum was then carried forward by the banking stocks.

Trading Calls - Aug 20 2010

Trading Calls - Aug 20 2010

Morning Notes - Aug 20 2010

Morning Notes - Aug 20 2010

Orient Ceramics

Orient Ceramics

Banking - Technical Report

Banking - Technical Report

Daily Derivative Strategy - Aug 20 2010

Daily Derivative Strategy - Aug 20 2010

Daily Fundamental Report - Aug 20 2010

Daily Fundamental Report - Aug 20 2010

Daily Technical Report - Aug 20 2010

Daily Technical Report - Aug 20 2010

Daily Market Outlook - Aug 20 2010

Daily Market Outlook - Aug 20 2010

KS Oils

We recommend a buy in the stock of KS Oils from a short-term perspective. It is evident from the charts that after encountering a key long-term resistance in the band between Rs 75 and Rs 77 in January 2010, it started declining. However, this intermediate-term down move was arrested at the stock's significant long-term support zone between Rs 50 and Rs 52 in late July. Subsequently the stock bounced up and has been on a short-term up-move. This trend reversal has been supported by positive divergence displayed in the daily moving average convergence divergence oscillator. On August 19, the stock advance 4 per cent crossing over its 21-day moving average. The volume on that session was good. The daily relative strength index has bounced up from 40 levels and is rising towards bullish zone. The daily MACD has signalled a buy. Our short-term outlook on the stock is positive. We anticipate the stock to rally until it hits our price target of Rs 57.5 or Rs 59 in the upcoming trading sessions. Short-term traders can buy the stock while maintaining stop-loss at Rs 53.

via BL

SGX Nifty Live Update - Aug 20 2010

5,504.00 -24.00

Stocks may weaken at start

Headlines for the day:

Fiat JV revival becomes a priority for Tata Motors

RIL-NTPC dispute over D6 heading for truce

ACIL gets 45 acre for organic contract farming

US stocks submerged in red

Weak economic data rattle stocks for entire day

Weak set of economic data rattled US stocks for the entire day on Thursday, 19 August 2010. Stocks started and ended the day in the red. The day was heavy with economic reports and all checked in worse than expected thereby questioning the pace of global recovery for last year's recession.

Bullion metals end mixed once again

Weak economic data pull up gold

Bullion metal prices ended mixed once again on Thursday, 19 August 2010 at Comex. Gold prices ended marginally higher while silver prices slipped. Gold prices rose as weak economic data increased the appeal of commodities as a hedge against inflation. On the other hand, silver dropped as dollar strengthened.

Base metals weaken

Weak economic data take their toll on base metals

Copper prices ended lower on Thursday, 19 August 2010. Prices dropped due to weak set of economic reports and strong dollar.

Crude continues to slide down

Prices drop due to weak economic data

Crude prices dropped again on Thursday, 19 August 2010. Prices fell due to a spate of weak economic data that hit Wall Street on Thursday.