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Monday, September 20, 2010
BSE Bulk Deals to Watch - Sep 20 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/9/2010 530901 ACIL Cot Inds ABHIJAI INVESTMENT B 151183 33.01
20/9/2010 513349 Ajmera Rlty CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 236636 288.12
NSE Bulk Deals to Watch - Sep 20 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-SEP-2010,AJMERA,Ajmera Realty & Inf I Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,236377,286.81,-
20-SEP-2010,ARCHIES,Archies Limited,BLUE PEACOCK SECURITIES PVT LT,BUY,45047,184.66,-
20K for Sensex, 6K for Nifty in the hindsight
Major headlines:
Core Projects hits 52-week high on acquisition; the stock closes 1.52% up
KSK Energy rises on securing funds; the stock ends 5.50% higher
Steel Strip wins repeat export order; the stock closes higher by 6.44%
VA Tech Wabag sets IPO price band of Rs 1230-1310 a share
The IPO opens on Wednesday, 22 September 2010.
VA Tech Wabag, a player in water treatment industry, has fixed a price band of Rs 1,230-1,310 a share for its initial public offering (IPO).
The issue of Rs 472 crore opens for bidding on Wednesday, 22 September 2010 and closes on Friday, 24 September 2010. The book for anchor investors will open on Tuesday, 21 September 2010. Bidding for retail investors will be extended for one more day, closing on Monday, 27 September 2010.
Career Point Infosystems IPO receives strong response
The IPO subscribed 25.54 times.
The initial public offer of tutorial services provider Career Point Infosystems was subscribed robust 25.54 times by 16:00 IST on the third day of the issue today, 20 September 2010. The IPO received bids for 8.19 crore shares, compared with 32.08 lakh shares on offer.
Ramky Infrastructure IPO Analysis
Ramky Infrastructure, promoted by first generation promoter Alla Ayodya Rami Reddy and Y R Nagaraja, provides construction services in verticals such as water and waste water, irrigation, transportation, power, and building & industrial construction. The company started off as a construction service provider and in 2003 it has turned a developer of infrastructure projects.
Cantabil Retail India IPO Analysis
Capitalising on retail growth
IPO to fund expansion of retail presence, increase capacity and reduce dependence on third party manufacturers
Indices gain 1.6% scaling 32 month closing highs
In a buoyant start for the week, the key benchmark indices jumped about 1.6% to scale fresh 32-month highs, with indices extending last week's close to 4.2% rally. Indian bourses outperformed the gains in global stocks. The foreign institutional investors' buying spree and higher Q2 advance tax payments from frontline companies underpinned sentiment. The BSE 30-share Sensex was up 311.35 points or 1.59%, off close to 20 points from the day's high and up close to 160 points from the day's low. The BSE Sensex and Nifty were in the close vicinity of psychological 20000 and 6000 mark respectively.
All The Grey Market Premiums - Sep 20 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Indosolar Ltd. | 29 to 32 | 0.60 to 0.70 (Paise) |
| Tirupati Inks (FPO) | 41 to 43 | 8 to 9 |
| Career Point Infosystems | 295 to 310 | 134 to 136 |
| Eros International | 158 to 175 | 39 to 40 |
| Microsec Fin | 113 to 118 | 25 to 26 |
| Ramky Infrastructure Ltd. | 405 to 468 | 38 to 40 |
| Orient Green Power | 47 to 55 | 3.50 to 4 |
| Electro Steel | 10 to 11 | 0.85 to 0.90 (Paise) |
| Gallantt Ispat | 50 (Fixed Price) | 5 to 7 |
| VA Tech Wabag | 1230 to 1310 | 290 to 295 |
| Cantabil Retail | 127 to 135 | 13 to 15 |
| Tecpro Systems | -- | -- |
| CTV Network | 100 to 110 | 20 to 21 |
| Ashok Buildcon | 280 to 300 (Approximate) | 45 to 48 |
Flat start, bulls hope to outperform!
The difference between performance and outperformance often comes down not to what you buy, but how you buy it. - James Cramer.
The rangebound trade in which the market was stuck for a long time is perhaps history. Suddenly, the all-time peaks of January 2008 appear within striking distance. Even global markets seem to be resilient. A flood of FII money, and stronger than expected domestic economic data have made India among the best performers.
Market seen subdued in opening trade
The market is likely is to see a soft start as profit booking might emerge following the recent surge which propelled the key benchmark indices to 32-month highs. Global cues lacked direction. Trading of the S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 13 points at the opening bell.
Precious metals end modestly higher
Prices pare some gains as US consumer sentiment shows a drop
Precious metals ended modestly higher on Friday, 17 September 2010 at Comex. Yellow metal prices struck new record and silver also ended at fresh 30 month high after a volatile day of trading.
Crude prices end lower for fourth straight day
Crude pares early gains, as economic data turn weak
Crude oil prices ended lower for fourth straight day on Friday, 17 September 2010 at Nymex. Prices continued to stay weak due to pessimistic economic data. Prices made a strong start but eventually dropped.
Markets set for a soft start
Headlines for the day:
Cognizant in talks to buy Genpact
Insurers fight again for Air India contract
Sales tax exemption on exports of goods
Daily News Roundup - Sep 20 2010
Oriental Bank of Commerce has raised capital of Rs5bn to fund business growth and strengthen its capital adequacy. (BL)
SAIL has indicated that the proposed JV with Posco would be frozen by November. (BL)
NMDC is reportedly at an advanced stage of conducting due diligence for buy out of coal assets overseas. (BL)
Weekly: Stellar show by Sensex, Nifty
The bulls continued their rampage on Indian bourses on back of July IIP data, which beat all expectations. The flush of funds so far has led to Indian indices performing relatively better to their global peers. However, lack of participation by the broader market in the recent rally raises some doubts about the strength and sustainability of the advance. Finally, Nifty advanced by 4.3% during the week and Sensex added 4.2%.
Future looks good for Port companies
Starting 2010, the future may belong to the private sector in Indian ports, commented a senior Shipping Ministry bureaucrat five years ago. Things are going pretty much in the same direction as he predicted, contrary to many in the industry saying government-run major ports will continue to dominate the sector.
Gold at new record high
Spot gold touched a new record high and was headed for the biggest weekly gain since May, as global investors continued to seek refuge in the precious metals amid lingering concerns about global economic growth. Gold for immediate delivery rose as much as US$7.72, or 0.6%, to US$1,282.97 an ounce and traded at $1,279.55 at 11:44 a.m. in London on Friday. Gold prices are up 2.7% this week. Gold for December delivery gained as much as 0.8% to US$1,284.40 an ounce and was last at US$1,280.60 on the Comex in New York.
Yen slumps vs. dollar on government intervention
Japanese stocks spurted as the yen plunged against the US dollar on the first government intervention in the foreign currency market since March 2004 and pledged to do more if needed to preserve its export-led recovery. A stronger yen erodes the competitiveness of the exports that are the key driving force behind Japan's economy. The yen plunged to 85.78 per dollar from a 15-year high of 82.88. Exporters benefited from a weaker yen, sending the benchmark Nikkei 225 Stock Average up 6% during the week to 9,626.
Rupee hits new three-month high on stock rally
The Indian rupee extended gains against the US dollar to touch a new three-month high, buoyed by strong gains in the local stocks and a weak dollar in the overseas markets. The partially convertible Indian currency was last seen trading at 45.8450 per dollar, stronger than 46.14/15 at close on Thursday. It earlier touched 45.8250, its highest level since June 21. The rupee, which was headed for its biggest weekly advance since July, climbed to a three-month high after the RBI yesterday raised its benchmark interest rates for the fifth time this year.
Weekly Newsletter - Sep 19 2010
The bulls are out of their deep slumber it seems and raring to go. They have already gone quite a lot ahead in pushing the key indices up over the past few sessions. But, there are no indications as yet that point to a halt to the current bull-run. Only a really nasty global surprise can spoil the party here in India because the domestic prospects have not looked so bright in a long, long time. Federal Reserve's meeting next week is going to be a big event in this context. The US central bank is expected to hold rates near record low but it will be interesting to see whether it announces any debt purchase plan.
RBI hikes repo rate by 25 bps; reverse repo by 50 bps
The Reserve Bank of India (RBI) raised its key policy rates by up to 50 basis points (bps) at its mid-quarter monetary policy review as it seeks to contain inflation in a rapidly growing economy. The central bank hiked the repurchase rate (repo rate) by a quarter percentage point to 6% while the reverse repo rate was increased by 50 bps to 5%.
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