Weekly Techno Funda Calls - Oct 1 2010
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Friday, October 01, 2010
Microsec Financial Services Allotment Status
Microsec Financial Services Allotment Status can be checked here
Career Point Infosystems IPO Allotment Status
Career Point Infosystems IPO Allotment Status can be viewed either today or tomorrow here
BSE Bulk Deals to Watch - Oct 1 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
1/10/2010 532282 Amtek India SAHAR VYAPAR PRIVATE LIMITED B 600000 64.00
1/10/2010 532282 Amtek India SAFFRON FINANCE LIMITED B 691046 64.25
NSE Bulk Deals to Watch - Oct 1 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
01-OCT-2010,AMTEKINDIA,Amtek India Limited,CAPVEDA INDIA FUND,BUY,680000,64.40,-
01-OCT-2010,AMTEKINDIA,Amtek India Limited,SAFFRON FINANCE LIMITED,BUY,714784,64.38,-
Bulls help Sensex gain over 1.8% at closeBulls help Sensex gain over 1.8% at close
Indian markets continued to rise for the second day on Friday. It made a spectacular rally today aided by strong buying by funds and firm global cues. Midcap and Smallcap also led the upsurge. Realty and metal stocks were leading the sectoral space. Even auto stocks rallied due to good sales number.
Nifty crosses 6100
Major headlines
India’s exports up 22.5% at $16.64 billion
Maruti Suzuki September sales jump 29.6%; the stock ends 2.88% higher
Sterlite Industries gains as unit closure gets Supreme Court relief; the stock closes 5.13% up
Nifty October 2010 futures at premium
Turnover declines
Nifty October 2010 futures were at 6,176, at a premium of 32.60 points over spot closing of 6,143.40. Turnover in NSE's futures & options (F&O) segment declined to Rs 1,18,232.26 crore from Rs 2,11,604.77 crore on Thursday, 30 September 2010. The turnover had jumped on Thursday due to rollover of positions from September 2010 series to October 2010 series. The September 2010 derivatives contracts expired on Thursday.
Asian markets gain amid thin trades
Buying still continues to emerge in region though
Asian markets gained amid thin trades on the last trading day of the week, as the Chinese markets remained shut. In the US, economic data revealed that 2Q GDP was marginally higher at 1.7% from the preliminary reading of 1.6%, and jobless claims declined more than expected on signs of pick-up in demand for jobs. However, the Wall Street still ended in red in the previous session on concerns about Europe and risky assets were mostly mixed today.
Market may extend gains on strong FII inflow
The market may extend gains next week with foreign investors pouring in money into Indian stocks, tempted by the country's rapid economic growth. The widely tracked BSE Sensex galloped past 20,000 points recently and is a few points away from an all-time peak of 21,206.77.
Rally continues unabated
Robust foreign fund buying helped the market clock gains for the fifth consecutive week. The key benchmark indices attained their highest closing levels in more that 32 months as firm global stocks also underpinned sentiment. A High Court ruling that the site of a demolished mosque in Ayodhya would be split between the Hindus and the Muslims, dousing immediate fears of a violent backlash, aided the rally.
Realty, metal stocks lead 1.87% Sensex surge
Equities started October 2010 on a buoyant note on Friday, with the two key benchmark indices -- the barometer index BSE Sensex and the 50-unit S&P CNX Nifty, scaling 32-1/2-month highs. Firm global stocks underpinned sentiments. Data showing massive buying by foreign funds on Thursday, 30 September 2010 and robust monthly sales reported by auto firms, also boosted sentiment. Auto, consumer durables, capital goods, metal and realty stocks led the rally.
Grey Market Premiums - Oct 1 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Tirupati Inks (FPO) | 43 (Upper Band) | 6 to 8 |
| Career Point Infosystems | 310 (Upper Band) | 142 to 145 |
| Eros International | 175 (Upper Band) | 42 to 43 |
| Microsec Fin | 118 (Upper Band) | 15 to 17 |
| Ramky Infrastructure Ltd. | 450 | 10 to 11 |
| Orient Green Power | 47 (Lower Band) | 0.70 to 0.80 (Paise) |
| Electro Steel | 11 (Upper Band) | 1.50 to 1.60 |
| Gallantt Ispat | 50 (Fixed Price) | 1.50 to 1.75 |
| VA Tech Wabag | 1310 (Upper Band) | 300 to 305 |
| Cantabil Retail | 135 (Upper Band) | 7 to 9 |
| Tecpro Systems | 355 (Upper Band) | 47 to 48 |
| Ashoka Buildcon | 324 (Upper Band) | 19 to 20 |
| Sea TV Network | 90 to 100 | 15 to 17 |
| Bedmutha Ind. | 95 to 102 | 10 to 12 |
| Commercial Engg. | 125 to 127 | 10 to 12 |
| Coal India | 225 to 250 (Approx) | 14 to 16 |
Market may extend gains on firm Asian stocks
The market may extend Thursday's (30 September 2010) gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could gain 26 points at the opening bell.
Daily News Roundup - Oct 1 2010
L&T bags Rs7bn order from various customers for construction related work. (ET)
L&T infra files for Rs4.5bn bonds public issue. (FE)
Tata Steel to refinance the Rs25bn loan it took. (ET)
SAIL to add 1,725 MW of power generation capacity. (ET)
ICICI Bank estimates loan growth in the current financial year at around 18%; higher than an earlier forecast of 15%. (BS)
M&M enters motorcycle segment with two models. (ET)
SBI hikes deposit rates by 25-75 bps, keeps base rate unchanged. (ET)
PNB raises base rate by 50bps to 8.5%. (BS)
Maruti Suzuki expects to record its highest-ever monthly sales in September with a growth of 32-33% yoy. (BS)
Tata Motors will commercially launch the Tata Aria, a crossover of a sedan and a sports utility vehicle, on October 11. (BL)
Axis Bank revised its base rate to 7.75% from 7.5%. (ET)
IDBI Bank revised its base rate upward by 0.50% to 8.5%. (ET)
ICICI opens first retail outlet in Singapore. (ET)
Reliance Capital has acquired a 4.98% stake in an infra developer Trinethra Infra through an open market transaction. (FE)
ADAG to acquire 26% in ICEX, gets FMC approval. (FE)
Piramal Healthcare to formally close its Vitamin-A factory in adjoining Thane tomorrow. (BS)
Power Grid Corporation is establishing a 1200-kV National Test Station at Bina in Madhya Pradesh. (BL)
Kingfisher Airlines has decided to revamp its capital structure by converting 30% of total debt into equity to reduce the loan burden. (BS)
IVRCL Assets raises Rs2.5bn from IFCI. (ET)
Hindustan Motors plans to double its capacity at its Tiruvallur facility to 24,000 units to support new launches. (BS)
Aarvee Denims has decided to infuse around Rs1.2BN for expanding its manufacturing capacity in two phases. (BS)
Suven Life Sciences to raise Rs900mn for R&D. (BS)
Shriram Properties, the real estate arm of Shriram Group, plans to raise US$100mn this year from private equity investors. (BS)
Firstsource announced a five-year outsourcing partnership with Barclaycard. (BS)
Economy Snippets
Food inflation increased to 16.44% in the week ended September 18 (FE)
India’s current account deficit rose sharply in the quarter ended June 30 to US$13.7bn from US$4.5bn a year ago due to lower invisible surplus and growth in imports outpacing exports. (BS)
Fiscal deficit falls 17% to Rs1.5tn during Apr-Aug (ET)
External debt increased by 4.1% in the first quarter of this year over the level recorded as at the end of March 2010. (BL)
The Department of Industry and Policy has relaxed FDI rules which will mainly help retail firms in JV with foreign retailers and the overseas NBFCs. (BL)
Commodity market regulator FMC today lifted the ban on trading in sugar futures (FE)
Rains 37% below normal in past week as per Meteorological Department (ET)
Fuel for future thermal power projects — both coal and gas — will be allocated under a new score-card system where the use of higher-efficiency units and progress on land acquisition have the highest weights. (BL)
What a comeback!...Nifty ends above 6000
Just when we thought that the bears were going to extend their hold came a spectacular comeback by the bulls! Not only that, the stunning turnaround came on a day when the total market turnover touched a new record of Rs2.2 lakh crores.
Verdict is clear
Each man must reach his own verdict, by weighing all the relevant evidence. Leonard Peikoff.
The excruciatingly long wait over the Ayodhya dispute has ended with the Allahabad High Court declaring a split but pragmatic verdict. The nation has shown maturity and restraint in reacting to the verdict and the same is expected of the markets.
Stocks head towards a positive start
Headlines for the day:
Piramal Healthcare closes Thane plant
Banks make loans more expensive
Suven to raise Rs90 crore for R&D
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