India Strategy, Sintex Industries, Infosys Technologies, Results Calendar
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Tuesday, October 12, 2010
Asian stocks mostly slip
Regional benchmarks record substantial losses on China measures, US Fed in focus
The Asian markets slipped today, giving up the gains in the last few days as the risk appetite went for a toss amid rising global worries that a combination of tight lending in China and liberal quantitative easing in the western economies does not bode well for the global economy. The US dollar rallied after slipping to 1.4000 against the Euro in overnight trades, its lowest level in nearly eight months and commodities witnessed an across the board collapse as well, pulling down the safe haven gold too.
Coal India IPO price band set at Rs 225-245 per share
Retail investors will get 5% discount
The government has set Rs 225-245 per share price band for the initial public offer (IPO) of state-run Coal India. Retail investors will get shares at 5% discount on the final issue price to be discovered through the book-building route. The IPO opens for bidding on 18 October 2010 and closes on 21 October 2010.
The government plans to raise about Rs 15000 crore from divestment of 10% stake in Coal India. The Coal India IPO is billed as the country's largest issue ever. The Indian government is selling roughly 63.16 crore Coal India shares, or 10% of the company.
Market drifts lower on disappointing August industrial production data
The key benchmark indices edged lower in choppy trade as the latest data showed industrial production growth slowed in August 2010. Weak global stocks also weighed on investors sentiment. But, banking stocks and some auto shares came off lows as slowdown in industrial production growth in August 2010 could ease pressure on the central bank to again raise rates at a policy review early next month. Index heavyweight Reliance Industries (RIL), too, recovered from lower level.
BSE Bulk Deals to Watch - Oct 12 2010
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
12/10/2010 533022 20 Microns VIKING INDUSTRIES PRIVATE LIMITED B 93506 56.35
NSE Bulk Deals to Watch - Oct 12 2010
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
12-OCT-2010,20MICRONS,20 Microns Limited,VIKING INDUSTRIES PRIVATE LIMITED,BUY,86494,56.35,-
12-OCT-2010,ACKRUTI,Ackruti City Limited,M/S CELLO PEN & STATIONARY PVT. LTD,BUY,480000,519.95,-
Daily Grey Market Premiums - Oct 12 2010
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| VA Tech Wabag | 1310 (Upper Band) | 360 to 365 |
| Cantabil Retail | 135 (Upper Band) | + / - 5 to 8 |
| Tecpro Systems | 355 (Upper Band) | 50 to 60 |
| Ashoka Buildcon | 324 (Upper Band) | 20 to 22 |
| Sea TV Network | 100 (Upper) | 16 to 17 |
| Bedmutha Ind. | 102 (Upper) | 15 to 17 |
| Commercial Engg. | 125 to 127 | + / - 3 to 5 |
| Oberoi Realty | 253 to 260 | 6 to 8 |
| B.S. Trans | 248 to 257 | Discount |
| Prestige Estate | 172 to 183 | Discount |
| Gyscol Alloy | 65 to 71 | 14 to 16 |
| Coal India | 220 to 245 (Approx) | 16 to 17 |
US stocks end mildly higher
Technology and energy sectors try to boost stocks on a quiet day
US stocks closed mildly higher on Monday, 11 October 2010. Optimism regarding positive earning reports scheduled later during the week helped stocks end in the green at the end. An absence of catalysts this morning made for a rather quiet start to the session, but stocks were able to attract some support. A stronger dollar restrained buying this session, but stocks were still up with modest gains. The U.S. Treasury market was closed for observance of Columbus Day holiday.
Market may open flat to slightly lower; industrial production data eyed
The market may open flat to slightly lower amid mixed Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate that the Nifty could fall 7 points at the opening bell.
Sensex set for a negative start; IIP nos eyed
Headlines for the day:
Cairn India raises Rs2,250 crore by selling bonds for first time
Tata Housing launches new residential project
Suzlon Energy gets board nod for Rs5000-crore issue
Daily News Roundup - Oct 12 2010
ING Vysya Bank ups base rate by 0.50%. (BL)
Patni Computer opens first centre in China. (BL)
Vedanta Group has ruled out raising the open offer price for Cairn India. (BL)
Vivimed Labs gets Govt nod to develop SEZ in AP. (BL)
Sensex advances...Auto, Metals rally
After two days of selling, the Indian markets started off the eventful week with smart gains. Positive cues from the Asian markets lifted the sentiment in the early trades. However, as the day progressed the key indices were unable to hold on to their early morning gains.
IIP could moderate market
Industry, perseverance, and frugality make fortune yield. - Benjamin Franklin.
The trend of sideways consolidation for the large caps may continue even as side counters continue to hog the limelight. The start is expected to be subdued with global markets trading mixed to lower. After a surprisingly strong show in July, IIP growth is likely to moderate in August and may slip below 10%. The IIP figures will be announced at 11:00 am today.
Crude registers mild losses
Prices end modestly lower as dollar heads up
Crude oil prices ended little lower on Monday, 11 October 2010 at Nymex. Prices fell as the dollar pared its initial losses. Prices also remained a bit somber following last week's employment report from the Labor Department.
Precious metals continue to shine
Prices remain high despite dollar paring early losses
Precious metals remained strong on Monday, 11 October 2010 at Comex, even as the dollar erased earlier losses and inched up. Last week's disappointing job report weighed on the dollar initially as the traders anticipated that Fed would take additional steps to boost the economy.
Asia starts on strong note
Markets edge up as weak US jobs report strengthens case for more monetary stimulus from the Federal Reserve
Prestige Estates Projects IPO Analysis
Prestige Estates Projects (PEPL), promoted by Irfan Razack, Rezwan Razack and Moaman Razack, is one of the leading real estate development companies operating in the southern part of the country and more specifically in Bangalore. The company has developed 150 real estate projects of approximately 34.23 million square feet (sft) since inception. In the last five years (since FY 2005), it has completed and delivered about 20.4 million sq ft.
Markets dance on global tunes
Major headlines
Sintex Industries Q2 net profit surges 54% yoy; the stock closes 1.30% higher
Indusind Bank Q2 net profit zooms 71% yoy; the stock ends 1.68% lower
Gallantt Ispat makes a stellar debut
BSE Mid-Cap, Small-Cap indices outshine Sensex
Trading for the week began positive as the key benchmark indices snapped losses in the preceding two trading sessions as world stocks rose on expectation the US Federal Reserve and other central banks will step in to boost the economy. The market breadth was strong. Mid and small-cap indices on BSE outperformed the Sensex. Index heavyweight Reliance Industries (RIL) extended initial gains. The BSE 30-share Sensex was up 89.63 points or 0.44%, off close to 120 points from the day's high. Buying was conspicuous in realty, consumer durables, auto and metal stocks.
Subscribe to:
Posts (Atom)