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Thursday, June 30, 2011
Nifty July 2011 futures at a slight premium
Turnover surges
Nifty July 2011 futures were at 5,652.55, at a premium of 5.15 points over spot closing of 5,647.40. Turnover in NSE's futures & options segment surged to Rs 181643.70 crore from Rs 165385.58 crore on Wednesday, 29 June 2011. The near-month June 2011 futures derivatives contracts expired today, 30 June 2011.
State Bank of India July 2011 futures were at 2411.70, at premium over spot closing of 2397.
Annual Report - Raymond - 2010-2011
RAYMOND LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
DEAR MEMBERS,
Your Directors are pleased to present their 86th report on the business and
operations of your Company together with the Audited Statement of Accounts
for the year ended March 31, 2011.
1. CORPORATE OVERVIEW
Raymond Limited is India's leading Textile and Branded clothing Company
with interests in engineering (files, tools and auto components) having its
corporate headquarters in Mumbai.
Annual Report - Asian Paints - 2010-2011
ASIAN PAINTS LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Dear Members,
Your Directors have pleasure in presenting the 65th Annual Report of your
Company and the Audited Accounts for the financial year ended 31st March,
2011.
FINANCIAL RESULTS
(Rs. in Crores)
Asian Paints Limited Asian Paints Limited
Group
Consolidated
2010-11 2009-10 Growth 2010-11 2009-10 Growth
(%) (%)
Sales and Operating
Income (Net) 6322.24 5125.08 23.4 7706.24 6680.94 15.3
Operating Profit 1232.66 1153.71 6.8 1395.60 1367.90 2.0
Less: Interest 15.35 13.76 22.23 28.47
Less: Depreciation 94.48 60.74 113.13 83.56
Profit before Tax &
exceptional item 1122.83 1079.21 4.0 1260.24 1255.87 0.3
Add/(Less):
Exceptional item - 25.46 - - 1.15
Profit before Tax 1122.83 1104.67 1.6 1260.24 1257.02 0.3
Less: Provision
for Taxes 347.68 330.17 378.89 373.11
Profit After Tax 775.15 774.50 0.1 881.35 883.91 (0.3)
Less: Minority interest - - - 38.11 48.27
Net Profit attributable
to shareholders of the
Company 775.15 774.50 0.1 843.24 835.64 0.9
Add: Balance brought
forward from the
previous year 600.00 230.00 600.00 230.00
DISPOSABLE PROFIT 1375.15 1004.50 1443.24 1065.64
That the Directors
recommend for
appropriation as under:
Dividend - Interim 81.53 81.53 81.53 81.53
- Final 225.41 177.45 225.41 177.45
Tax on Dividend 50.11 43.33 50.11 43.33
Transfer to General
Reserve 418.10 102.19 486.19 163.33
Balance carried forward
to Balance Sheet 600.00 600.00 600.00 600.00
Annual Report - TCS - 2010-2011
TATA CONSULTANCY SERVICES LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
To
The Members,
The Directors submit the Annual Report of the Company along with the
audited statement of accounts for the financial year ended March 31, 2011.
1. Financial Results:
(Rs. crores)
Unconsolidated
2010-2011 2009-2010
(i) Income from Sales and Services 29275.41 23044.45
(ii) Other Income (net) 494.73 177.60
(iii) Total Income 29770.14 23222.05
(iv) Operating Expenditure 20511.88 16372.78
(v) Profit before Interest, Depreciation and Tax 9258.26 6849.27
(vi) Interest 20.01 9.54
(vii) Depreciation and Amortisation 537.82 469.35
(viii) Profit before Taxes 8700.43 6370.38
(ix) Provision for Taxes 1130.44 751.87
(x) Minority Interest and Share of Loss of
Associates - -
(xi) Net Profit for the Year 7569.99 5618.51
(xii) Balance Brought Forward from Previous Year 10458.13 9990.41
(xiii) Amount Available for Appropriation 18028.12 15608.92
Appropriations:
(a) Interim Dividends on Equity Shares 1174.32 1174.32
(b) Proposed Final Dividend on Equity Shares 1565.78 782.89
(c) Proposed Special Dividend on Equity Shares - 1957.22
(d) Proposed Total Dividend on Equity Shares 2740.10 3914.43
(e) Proposed Dividend on Redeemable Preference
Shares 11.00 17.00
(f) Tax on Dividends 450.82 657.51
(g) General Reserve 757.00 561.85
(h) Balance carried to Balance Sheet 14069.20 10458.13
(1 crore = 10 million)
Consolidated
2010-2011 2009-2010
(i) Income from Sales and Services 7324.51 30028.92
(ii) Other Income (net) 604.00 272.07
(iii) Total Income 37928.51 30300.99
(iv) Operating Expenditure 26146.15 21334.37
(v) Profit before Interest, Depreciation and Tax 11782.36 8966.62
(vi) Interest 26.48 16.10
(vii) Depreciation and Amortisation 735.26 660.89
(viii) Profit before Taxes 11020.62 8289.63
(ix) Provision for Taxes 1830.83 1196.97
(x) Minority Interest and Share of Loss of
Associates 121.75 92.02
(xi) Net Profit for the year 9068.04 7000.64
(xii) Balance Brought Forward from Previous Year 13604.84 11835.03
(xiii) Amount Available for Appropriation 22672.88 18835.67
Appropriations:
(a) Interim Dividends on Equity Shares 1174.32 1174.32
(b) Proposed Final Dividend on Equity Shares 1565.78 782.89
(c) Proposed Special Dividend on Equity Shares - 1957.22
(d) Proposed Total Dividend on Equity Shares 2740.10 3914.43
(e) Proposed Dividend on Redeemable Preference
Shares 11.00 17.00
(f) Tax on Dividends 459.15 663.18
(g) General Reserve 827.58 636.22
(h) Balance carried to Balance Sheet 18635.05 13604.84
(1 crore = 10 million)
Annual Report - ITC - 2010-2011
ITC LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Your Directors submit their Report for the financial year ended 31st March,
2011.
SOCIO-ECONOMIC ENVIRONMENT
World output staged a smart recovery in 2010 growing by 5% during the year
after a decline of 0.6% in 2009. While growth in the first half of the year
stood at 5.25%, there was a marked deceleration in the second half which
recorded a growth of 3.75%. Receding fears of a global depression in 2009
initially led to a lower rate of destocking by business and subsequently to
a phase of rebuilding depleted inventories. This fostered a sharp rebound
in industrial production and trade which lasted through the first half of
2010. Simultaneously, accommodative policies adopted by most governments,
improvement in business confidence and financial conditions encouraged
investments and helped arrest rising unemployment levels and boost
consumption. Consequently, recovery has become more self-sustaining and the
risk of a double-dip recession in advanced economies has abated. The
recovery, however, is broadly moving at two speeds. While economic growth
in the advanced economies remained modest at around 3% in 2010 after a
decline of 3.4% in 2009, emerging and developing economies recorded robust
growth in excess of 7% during the year - led primarily by China and India.
According to the International Monetary Fund (IMF), world real GDP growth
for 2011 is forecast at 4.4%, representing a modest slowdown from 2010
levels. Real GDP in the advanced economies is expected to grow by 2.5%
while that in the emerging and developing economies is forecast to grow by
6.5%. However, downside risks to these estimates continue to outweigh the
upsides. In the case of advanced economies, the key concerns revolve around
weak sovereign balance sheets, the possibility of financial troubles in
peripheral Euro area spreading to core Europe, high levels of unemployment,
the continued weakness of the US real estate market and the lack of
progress in formulating medium-term fiscal consolidation plans. In the
emerging economies, key risks relate to overheating, asset price bubbles,
rapid rise in inflationary pressures, spurt in commodity prices and the
potential for boom-bust cycles could eventually result in a hard landing in
these economies. With emerging markets accounting for 40% of global
consumption and two-thirds of global growth, a slowdown in these economies
could dent global recovery significantly.
BSE Bulk Deals to Watch - June 30 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
30/6/2011 533412 AANJANEYA TRISONS AGENCIES B 100000 370.00
30/6/2011 531686 Advik Lab SANA PASRICHA S 69971 3.70
30/6/2011 590059 APL APOLLO MANOJ GUPTA S 132958 142.03
30/6/2011 512608 Bhandari Hos HARSHA MAYURBHAI SHETH B 63000 32.74
30/6/2011 512608 Bhandari Hos HARSHA MAYURBHAI SHETH S 63000 32.90
NSE Bulk Deals to Watch - June 30 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
30-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,TRISONS AGENCIES PROP - KAMLESH MANOHAR KANUNGO,BUY,100000,370.00,-
30-JUN-2011,BALRAMCHIN,Balrampur Chini Mills,BALRAMPUR CHINI MILLS LTD,BUY,2200000,62.87,-
30-JUN-2011,DEEPIND,Deep Industries Ltd,HN ORGANISERS AND DEVELOPERS LLP,BUY,590414,54.51,-
30-JUN-2011,DEEPIND,Deep Industries Ltd,VORA UDAY HASMUKHLAL,BUY,118135,57.99,-
Markets up for 6th day
The key benchmark indices closed the June series in the green zone, extending gains for the sixth day on global");'> global support.
Major headlines
Food inflation at 7.78% versus 9.13%
Mindtree's former chairman halves stake in firm
Calcutta High Court adjourns Tata Motors’ Singur case
Indian indices
Markets were stuck in a tight range on the settlement day of June series and closed the session on a positive note. Sustained buying activity from institutional investors and good global");'> global cues after Greek approved austerity helped the key indices to extend six-day rally. The market spiked up in the last half an hour of trade owing to strong buying in FMCG, realty and consumer durables companies’ stocks.
Market sentiment was also bolstered by investors covering pending short positions on the last day of June contracts in the derivatives segment. A sharp dip in food inflation also provided some relief.
Sensex movements: Greek optimism lifted the Sensex 47 points higher at 18741 at the start. Volatility was high, with the Sensex touching the day’s low of 18723 in afternoon session. In late trade, the index hit the day’s high of 18873. The Sensex rose 152 points to settle at 18846 and the Nifty posted gains of 47 points to close at 5647.
Market sentiment
The market breadth stood in favour of advances. Of the 2,988 stocks traded on the BSE, 1,507 rose, 1,337 declined and 144 stocks closed unchanged.
Viewing volumes
One of the fastest growing integrated infrastructure enterprises of India - Lanco Infratech was traded the most, with over 0.60 crore shares changing hands on the BSE. It was followed by India's second largest real estate developer - Unitech (0.25 crore shares), world's fifth largest wrist watch manufacturer - Titan Industries (0.21 crore shares), a Jaypee Group firm - Jaiprakash Associates (0.20 crore shares) and an industrial finance company - IFCI (0.16 crore shares).
Sectoral & stock screening
All the sectors rallied except BSE Healthcare down by 0.03%. BSE Fast Moving Consumer Goods (FMCG) was the major gainer, rising by 1.83%, followed by BSE Realty and BSE Consumer Durables rose by 1.19% each. Other gainers' surged between 0.01-0.69%.
Coming to 'A' group stocks, top three performers were - Jaypee Infratech went up by 8.15%, Jubilant FoodWorks rose by 5.87% and Rashtriya Chemicals & Fertilizers (RCF) surged by 5.67%. Top three losers were - Lanco Infratech dropped by 3.89%, Zee Entertainment Enterprises declined by 3.74% and Jain Irrigation slipped by 3.42%.
Global signals
The European shares rose on Thursday, on track for a fourth consecutive session of gains, led by banking stocks in a short-term relief rally on hopes that Greece will pass the final austerity bill and avert a near-term default.
Asia-Pacific bourses extends rally on optimism that Greece's problem is solved in near term
Asia-Pacific bourses ended last trading session of month as well as June quarter with positive spirit, as risk hunger investors continued hunting for blue chip stocks on relief over Greece's debt crisis after the Greek austerity package has been passed in Athens and on news reported US home sales rose over 8% in May. Meanwhile, overnight rally in the European and United State equity market, and commodity prices also uplift risk appetite for equities.
Most risk assets performed well overnight, with oil was up more than 2% after EIA crude inventory fell deeper than expected and the US Dollar Index edged down on higher risk demand. Copper closed at $9,320/ton, a highest price since May 4, on the London Metal Exchange.
Sensex jumps 7.3% in six days as FIIs resume buying
Key benchmark indices extended their winning streak into the sixth straight day to attain their highest closing level in more than 8-weeks as data showing sustained buying by foreign funds over the past few sessions, firm global stocks and easing of food inflation in mid-June 2011 boosted sentiments. The BSE Sensex jumped 152.01 points or 0.81%, off close to 30 points from the day's high and up close to 120 points from the day's low. High volatility was witnessed in late trade as traders rolled over positions in the derivatives segment from June 2011 series to July 2011 series. The near-month June 2011 derivatives contracts expired today, 30 June 2011.
Exuding confidence!
It ain't what they call you, it's what you answer to. ~ W.C. Fields.
Prime Minister, Dr. Manmohan Singh appears to be exuding confidence as he attempts to show that he is very much in command. The stock market too has been on a roll and investors would hope that the rollover takes place without breaking the momentum.
We have an opening which is all set to be positive. Things appear too good to be true. FII inflows remain encouraging. Indian indices could well end higher for a sixth straight session. Some choppiness may be there in late afternoon, which is usually the case on F&O expiry day. The upside from here will hinge on FII flows, global cues, domestic policy action(s) and Q1 earnings.
Top Laggards: Bajaj Holdgs dips 5%, Union Bank slips 3%
Bajaj Holdings & Investment
Bajaj Holdings & Investment, an investment company, lost by 5.29% to close at Rs732.15, on the BSE.
Performance on periodic basis:
On weekly basis (June 22-June 29, 2011), the stock fell 1.46% from Rs743.05.
On monthly basis (May 27-June 29, 2011), the stock fell 3.58% from Rs759.40.
On yearly basis (June 29, 2010-June 29, 2011), the stock rose 3.12% from Rs709.95.
Wednesday, June 29, 2011
Asia-pacific stockmarket ends modest higher on improve risk appetites
Hopes of positive news from Greece front plays role
Most of Asia-pacific market ended modest higher on Wednesday, June 29, 2011, as risk hunger investors chased for bargain, thanks to positive rally on the European and United State equity market overnight, stronger commodity prices, and amid optimism over the Greece vote later in the day as well as China Premier Wen's speech on a possible increase of investment in European debt
Buying appetite continued for riskier equities on growing expectations that the Greek lawmaker will approve the austerity measures aimed as preventing a default as well as news that German banks have agreed in principle to roll over about $10 billion in Greek government debt. A vote on the package is scheduled for Wednesday and a vote on the implementation legislation for Thursday.
BSE Bulk Deals to Watch - June 29 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
29/6/2011 522150 Aditya Forge NITIN RASIKLAL PAREKH (HUF) B 25000 9.72
29/6/2011 530499 AK Capital DERIVE TRADING PRIVATE LIMITED B 58000 315.00
29/6/2011 530499 AK Capital MAULIK BIPIN BAGADIA B 80000 315.00
29/6/2011 530499 AK Capital DERIVE INVESTMENTS S 138000 315.00
29/6/2011 590114 Arunjyoti Enterprises SHASHIKANT KESHAVLAL SHAH B 31000 50.65
NSE Bulk Deals to Watch - June 29 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
29-JUN-2011,DELTACORP,Delta Corp Limited,MANISH VRAJLAL SARVAIYA,BUY,1368647,101.00,-
29-JUN-2011,ECEIND,ECE Industries Limited,MUDRIKA GOODS PRIVATE LIMITED,BUY,384246,107.55,-
29-JUN-2011,EXCELINFO,Excel Infoways Limited,JHAVERI TRADING AND INVESTMENT PVT LTD,BUY,116116,29.93,-
Sensex ended at 18,694 adding 201 points. Nifty closed at 5,600.4 adding 55 points.
It was another splendid day on the Indian bourses, with the main equity indices ending with smart gains on the back of healthy global cues and improved FII inflows. With this, the Indian market has extended the recent upswing to five straight trading sessions.
The benchmark indices registered their longest winning streak in almost three months. The Nifty closed above the 5600 mark for the first time since May 2.
The indices opened with a gap and from there on there was no looking back. The Nifty rose steadily throughout the day, led by FMCG, Metals and Banking stocks. The Mid-Cap and the Small-Cap index gained 0.8% each.
Firm global cues boost markets for 5th day; Sensex up 201 pts
The Indian markets extended rally and closed the trade on a buoyant note with the support coming in from global equities and improved FII inflows
Major headlines
Bharat Electronics FY11 consolidated net profit up 19%
Supreme Court grants interim relief to Tata Motors
Apollo to Invest up to Rs2,250 crore in Welspun Group
Nifty July 2011 futures above 5600
Turnover rises
Nifty June 2011 futures were at 5,608, at premium of 7.55 points over spot closing of 5,600.45. Nifty July 2011 futures were at 5,629.95, at a premium of 29.50 points over spot closing of 5,600.45.
Turnover in NSE's futures & options segment rose to Rs 165385.58 crore from Rs 153997.90 crore on Tuesday, 28 June 2011. The near-month June 2011 futures derivatives contracts expire tomorrow, 30 June 2011.
Sensex vaults 6.5% in five days as FIIs resume buying
Key benchmark indices extended their winning streak to the fifth day to attain their highest closing level in more than eight weeks as world stocks rose, buoyed by hopes that the Greek parliament will vote in favor of additional austerity measures. The BSE Sensex jumped 201.41 points or 1.09%, up about 140 points from the day's low and off close to 20 points from the day's high. The market breadth was strong. Recent aggressive buying by foreign funds underpinned sentiment.
FMCG stocks rose with ITC, Hindustan Unilever (HUL), Colgate and Marico hitting record highs. Consumer durables stocks also gained. Index heavyweight Reliance Industries (RIL) extended intraday gains in late trade. Metals stocks rose as prices of base metals rose on the London Metal Exchange. Steel giant Tata Steel rose more than 2% after the company's managing director Hemant Nerurkar said operating profit at the company's European unit will rise by two-thirds of its current level to $100 a metric tonne over the next three years. Bank stocks extended recent gains.
Grey Market Premiums - June 29 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 5 to 7 |
| Birla Pacific Medspa | 10 to 11 | Discount |
| Rushil Decor | 63 to 72 | 3 to 3.50 |
| Ready Made Steel | 90 to 108 | 7 to 8 |
Markets may start strong on positive global cues
The markets may see a strong opening on account of gains across the globe and are likely to remain choppy ahead of June series F&O expiry.
Headlines for the day:
LIC acquires 10% stake in Andhra Bank
CCEA may decide on Cairn-Vedanta deal tomorrow
Lanco Infratech faces threat of export licence review in Australia
Daily News Roundup - June 29 2011
NTPC has started operations of the first super critical 660 MW unit at Sipat plant in Chattisgarh. (ET)
SAIL, BHEL and RINL have decided on a joint venture for building an integrated manufacturing unit for electrical and silicon grade steel. (BL)
ITC Ltd is planning to foray into dairy and beverage. It is also looking to take its various food and personal product brands global in the next five years. (BS)
Sensex up for 4th day…Nifty above 50, 100DMA
The Indian stock indices eked out modest gains on Tuesday, rising for a fourth consecutive trading session. The BSE Sensex closed within shouting distance of 18,500 and the NSE Nifty ended near 5,550.
Firm cues from the international equity markets coupled with encouraging FII inflows in the past few days enabled the benchmark indices to end in the positive terrain.
The Government's bold steps on fuel prices last week and optimism about Greece getting a fresh rescue package soon also played a role in the advance today.
Bright to begin with…
Hope is some extraordinary spiritual grace that God gives us to control our fears, not to oust them. ~Vincent McNabb.
The fuel price hike has suddenly fueled hopes of more reforms from UPA II. A cabinet reshuffle is on the cards shortly while the PM has decided to speak more frequently to the media. But, problems remain - largely in the form of high inflation, spiraling interest rates and drop in investments.
The Indian market has rallied for the past four sessions – the longest winning streak in three months. Hopefully, the rally may just have enough steam to last a bit longer.
Market may extend recent rally on firm Asian stocks
The market may extend four days gains on firm Asian stocks. The latest data showing that foreign institutional investors (FIIs) had stepped up buying of Indian stocks may also help sentiment. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 39 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 819.41 crore and domestic funds sold shares worth Rs 575.06 crore on Tuesday, 28 June 2011, as per provisional figures released by the stock exchanges.
Tuesday, June 28, 2011
Annual Report - HDFC Bank - 2010-2011
HDFC BANK LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
TO
THE MEMBERS,
Your Directors have great pleasure in presenting the Seventeenth Annual
Report on the business and operations of your Bank together with the
audited accounts for the year ended March 31, 2011.
Annual Report - ICICI Bank - 2010-2011
ICICI BANK LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Your Directors have pleasure in presenting the Seventeenth Annual Report of
ICICI Bank Limited with the audited statement of accounts for the year
ended March 31, 2011.
Annual Report - TTK Prestige - 2010-2011
TTK PRESTIGE LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Your Directors have pleasure in presenting their Fifty Fifth Annual Report,
together with the Audited Accounts of the Company, for the year ended
31st March 2011 as follows:
FINANCIAL RESULTS
(Rs. in lakhs)
2010-11 2009-10
Sales (inclusive of excise duty) 77558 51680
Other income 430 114
Profit before Extra-Ordinary item 12094 7143
Extra-Ordinary/exceptional income (59) 397
Profit/(Loss) before tax 12035 7540
Tax Provision 3660 2297
Net Profit/(Loss) 8375 5244
Transfer to General Reserve 838 524
Proposed Dividend (including tax) 1645 1320
Surplus carried to balance sheet 9292 3400
Sensex up for 4th day…Nifty above 50, 100DMA
Sensex ended at 18,492 adding 80 points. NSE Nifty closed at 5,545 adding 19 points.
The Indian stock indices eked out modest gains on Tuesday, rising for a fourth consecutive trading session. The BSE Sensex closed within shouting distance of 18,500 and the NSE Nifty ended near 5,550.
Firm cues from the international equity markets coupled with encouraging FII inflows in the past few days enabled the benchmark indices to end in the positive terrain.
BSE Bulk Deals to Watch - June 28 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
28/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 103429 383.74
28/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD B 67075 382.77
28/6/2011 533412 AANJANEYA BMD EXPORTS PRIVATE LIMITED B 87199 378.43
NSE Bulk Deals to Watch - June 28 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
28-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,BMD EXPORTS PRIVATE LIMITED,BUY,61198,379.39,-
28-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,103087,382.94,-
28-JUN-2011,ABGSHIP,ABG Shipyard Limited,JAROLI VINCOM PVT LTD,BUY,250000,362.04,-
28-JUN-2011,ABGSHIP,ABG Shipyard Limited,PARWATI CAPITAL MARKET PRIVATE LIMITED,BUY,328564,360.05,-
Volatile day ends in green
After three consecutive sessions of garnering 1-3% gains, the markets witnessed an extremely volatile trade today. The Sensex closed higher by 80 points and the Nifty up 19 points
Major headlines
Cairn India slips after Vedanta deal value revised down
Tyre companies strengthen on fall in rubber prices
ABG Shipyard inks Rs970 crore deal with Indian Navy
Market scales 3-week high; Sensex vaults 5.3% in 4 days
Key benchmark indices advanced for the fourth straight day to attain 3-week closing highs as the latest data showed that foreign institutional investors (FIIs) had stepped up buying of Indian stocks. The BSE Sensex rose 80.04 points or 0.43%, up close to 170 points from the day's low and off close to 35 points from the day's high. The market breadth was positive, having swung between positive and negative zone earlier in the day. The BSE Mid-Cap and Small-Cap indices outperformed the Sensex.
Auto stocks rose for the second straight day as the recent hike in diesel price of Rs 3 per litre was lower than market expectations of a hike of Rs 4 per litre. Capital goods, pharma and consumer durables stocks also gained. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade.
Daily News Roundup - June 28 2011
Hindustan Construction Company bagged contract worth Rs18.43bn, in a joint venture with Alstom, from THDC India to construct Tehri Pumped Storage Plant in Tehri, Uttarakhand.(ET)
Glenmark Pharma USD613mn outlicensing deal with Sanofi has been approved by the US authorities and has also received an upfront payment of USD25mn from the French drug maker. (BS)
Cairn and Vedanta have announced major changes in the terms of their USD9.6bn deal, including the removal of the non-compete arrangements and associated fee, which may result in a 5.3% fall in post-tax proceeds.(ET)
Sensex pulls off hat-trick...Nifty closes above 5500
Just when one thought the Indian markets would see a gap-down opening, tracking overnight sell-off in the US and Asian markets, comes yet another strong pullback - third in a row. The benchmark Indian equity indices showed strong resilience and witnessed a smart rally throughout the day. Sustained buying was seen in index heavyweights like ONGC, L&T, Maruti, Axis Bank and M&M.
Banking stocks led from the front. Public sector oil companies' shares were in action, with stocks like ONGC, HPCL, IOC and BPCL gaining over 3% each. Today’s upswing was accompanied with commendable volumes, as the total market turnover crossed Rs. 1.7 lakh crores mark. Strong FII inflows in the past couple of sessions also influenced the rally today.
Some relief!
"The greatest weapon against stress is our ability to choose one thought over another." -William James.
The otherwise stressed market seems to be witnessing a relief of sorts. Investors thoughts shifted to some fall in crude oil and some hike in fuel prices for now, which led to a rally of sorts on Monday. Most of the three-day advance has been driven by short covering after the NSE Nifty breached 5400. But, the index is still trading below various crucial technical levels. Ride the current upswing cautiously keeping in mind that most of the headwinds have yet to be conquered.
Market may extend recent gains on firm Asian stocks
The market may extend recent gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 21 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 1447.42 crore and domestic funds sold shares worth Rs 766.38 crore on Monday, 27 June 2011, as per provisional figures released by the stock exchanges.
The market may remain volatile in the near term as traders roll over positions in the derivatives segment from June 2011 series to July 2011 series. The near-month June 2011 derivatives contracts expire on Thursday, 30 June 2011.
Monday, June 27, 2011
Sensex extends 3-day rise, ends 172 points higher
PSU oil & gas stocks were the top stars for the day after rise in fuel prices, which led the Indian markets to close the session on an optimistic note
Major news
Alstom-HCC JV wins Rs1,843 crore project
GTL clarifies on rise in volumes, share speculation
Hike in diesel price negative for cement companies
BSE Bulk Deals to Watch - June 27 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/6/2011 533412 AANJANEYA CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 100193 392.67
27/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD B 89763 393.10
27/6/2011 533412 AANJANEYA A K G SECURITIES AND CONSULTANCY LTD S 89763 393.35
NSE Bulk Deals to Watch - June 27 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,100260,392.55,-
27-JUN-2011,GTL,GTL Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,599887,108.39,-
27-JUN-2011,LOVABLE,Lovable Lingerie Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,240786,388.31,-
27-JUN-2011,MUKANDLTD,Mukand Limited,PACE STOCK BROKING SERVICES PRIVATE LIMITED,BUY,3500000,40.70,-
Nifty June 2011 futures above 5500
Turnover declines
Nifty June 2011 futures were at 5,536.60, at a premium of 10 points over spot closing of 5,526.60. Nifty July 2011 futures were at 5,550.90, at a premium of 24.30 points over spot closing of 5,526.60.
Turnover in NSE's futures & options segment declined to Rs 163359.54 crore from Rs 197862.56 crore on Friday, 24 June 2011. The near-month June 2011 futures derivatives contracts expire on Thursday, 30 June 2011.
PSU oil shares lead rally
Trading for the week began on an upbeat note as the key benchmark indices surged today, 27 June 2011, extending their rally into the third straight day, as a slide in global crude oil prices outweighed concerns that an increase in domestic fuel prices will stoke inflation. The BSE Sensex jumped 171.73 points or 0.94%, off close to 82 points from the day's high and up close to 280 points from the day's low. The market breadth was positive. The Sensex attained its highest closing level in nearly three weeks. The 50-unit S&P CNX Nifty achieved its highest closing level in 2-1/2 weeks.
Shares of state-run oil marketing companies rallied as government after market hours on Friday, 24 June 2011, announced a hike in the prices of diesel and cooking fuel. Upstream oil companies ONGC and Oil India surged after the government removed the 5% customs duty on crude oil.
Hike in fuel price lifts OMCs
The government hiked the price of diesel by Rs3 a litre, kerosene - Rs2 a litre and cooking gas by a steep Rs50 a cylinder. This followed the hike of over Rs5 per litre on petrol announced by oil marketing companies ( OMCs) in mid-May.
The decision to raise fuel prices was inevitable in view of the rising crude prices in the global market and its impact on the fiscal deficit
The impact on inflation is inevitable as the government did not have any other option but to hike the prices in light of huge under-recoveries.
The price hike would help the oil companies limit their revenue loss by Rs21,000 crore, but they would still end the fiscal with about Rs121,704 crore of revenue loss.
State-run oil marketing companies Indian Oil Corporation ( IOC), Bharat Petroleum Corporation Ltd ( BPCL) and Hindustan Petroleum Corporation Ltd ( HPCL) would benefit from increase in fuel prices. The shares of OMCs witness good buying interest.
At 9.26 am, BSE Oil & Gas was the leading index, up 1.23% at 9154.
HPCL was trading at Rs410.05, up by 4.47%, with a volume of 1.41 lakh shares on the BSE.
BPCL was trading at Rs663.65, up by 4.61%, with a volume of 1.14 lakh shares on the BSE.
IOC was trading at Rs349.55, up by 3.69%, with a volume of 0.92 lakh shares on the BSE.
Hike in fuel price lifts OMCs
The government hiked the price of diesel by Rs3 a litre, kerosene - Rs2 a litre and cooking gas by a steep Rs50 a cylinder. This followed the hike of over Rs5 per litre on petrol announced by oil marketing companies ( OMCs) in mid-May.
The decision to raise fuel prices was inevitable in view of the rising crude prices in the global market and its impact on the fiscal deficit
The impact on inflation is inevitable as the government did not have any other option but to hike the prices in light of huge under-recoveries.
The price hike would help the oil companies limit their revenue loss by Rs21,000 crore, but they would still end the fiscal with about Rs121,704 crore of revenue loss.
State-run oil marketing companies Indian Oil Corporation ( IOC), Bharat Petroleum Corporation Ltd ( BPCL) and Hindustan Petroleum Corporation Ltd ( HPCL) would benefit from increase in fuel prices. The shares of OMCs witness good buying interest.
At 9.26 am, BSE Oil & Gas was the leading index, up 1.23% at 9154.
HPCL was trading at Rs410.05, up by 4.47%, with a volume of 1.41 lakh shares on the BSE.
BPCL was trading at Rs663.65, up by 4.61%, with a volume of 1.14 lakh shares on the BSE.
IOC was trading at Rs349.55, up by 3.69%, with a volume of 0.92 lakh shares on the BSE.
Daily News Roundup - June 27 2011
Emami is getting ready for making a foray into food and beverage segment by testing waters with a glucose-based drink, thereby joining the league of GlaxoSmithKline and Rasna to energise the Rs6bn glucose drink market. (ET)
Emami is in talks with Reckitt Benckiser to buy the personal care business of Paras Healthcare for an estimated deal size of up to Rs 9bn. (FE)
Looking to diversify into power generation, REC plans to set up renewable energy projects entailing an investment of about Rs28bn crore in the next five years. (ET)
Sensex shoots past 18k...Nifty ends above 5400
The Indian equities galloped on Friday, with the BSE Sensex surging by over 500 points and the NSE Nifty cracking a solid century. The Sensex closed above 18,000, while the Nifty is within striking distance of 5500.
Although the Large-Cap shares paced the rise today, the non-index stocks too joined the party after being subdued over the past few sessions. As a result, the market breadth was very strong.
Another heartening aspect of the rally was that the traded volumes and turnover both improved substantially compared to the lackluster trading seen in the recent history.
Tolerance and courage!
The test of courage comes when we are in the minority. The test of tolerance comes when we are in the majority. - Ralph W. Sockman.
After 12 long months, the Government has finally mustered up some courage and hiked fuel prices. It also announced a recast of duties to mitigate the impact on consumers. While state-run oil companies will get some relief in the short term, the Centre’s revenues will be hit owing to the duty rejig. The overall picture on subsidies is still gloomy. Inflation will spike over the next few weeks. That, in turn will prompt the RBI to jack up rates further in maybe in July. Keep an eye on crude, which has corrected a bit lately.
Sunday, June 26, 2011
Saturday, June 25, 2011
Annual Report - LIC Housing Finance - 2010-11
LIC HOUSING FINANCE LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
To
The members of
LIC Housing Finance Limited.
The Directors have great pleasure in presenting the Twenty Second Annual
Report together with the audited accounts for the year ended 31st March,
2011.
Financial results:
The Profit and Loss Account shows a profit before tax of Rs.1294.16 crore
after writing off bad debts of Rs.0.63 crore and considering the amount
recovered of Rs.6.69 crore out of earlier write off and taking into account
all expenses, including depreciation and prior period items. The provision
for income tax (net of deferred tax) is Rs.319.67 crore and the profit
after tax for the year is Rs. 974.49 crore.
Taking into account the balance of Rs.361.40 crore being brought forward
from the previous year, the distributable profit is Rs.1335.89 crore.
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Annual Report - Canara Bank - 2010-2011
CANARA BANK
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
DIRECTORS' REPORT: 2010-11:
The Board of Directors have pleasure in presenting the 42nd Annual Report
together with the Balance Sheet as on 31st March, 2011 and Profit and Loss
Account for the financial year ended March 31, 2011.
MANAGEMENT DISCUSSION AND ANALYSIS:
I. ECONOMIC ENVIRONMENT:
Global economic activity has recovered slowly but steadily in 2010-11 after
the sharp deceleration of growth in 2008 and the contraction in 2009. The
global economy is now in dual speed recovery process with advanced
economies growing slowly/stagnating and the developing economies, on the
other hand, experiencing stronger growth.
The Indian economy is one of the fastest growing economies in the global
growth process, with the GDP growth back to its pre-crisis growth
trajectory, aided by expansion in agriculture, industry and the service
sectors and positive momentum in savings and investment rates. As per the
revised estimates released by the Central Statistical Organization (CSO),
the Indian economy grew by 8.5% in 2010-11 vis-a-vis a 8% growth in the
previous fiscal.
The growth has been broad-based with agriculture sector growing by a
significant 6.6% (0.4%) for FY11 and the industrial and the service sectors
grew by 7.9% (8.0%) and 9.4% (10.1%) respectively. Savings and investment
rates for 2010-11 is likely to be at 34% and 37% respectively.
Inflation was a primary concern among the policy makers during 2010-11.
Inflation, which remained at elevated levels for a large part of FY11, was
largely driven by food and fuel items and later on transmitted to
manufacturing products to become a general phenomenon. The monthly
wholesale price inflation stood at 8.98% in March 2011 compared to 10.23%
in the corresponding month a year ago.
Growth in the industrial sector was buoyant during the first half of FY11.
The manufacturing sector grew at a robust rate of 12.7% and 10% in the
first two quarters of 2010-11 respectively. Thereafter, industrial output
growth started moderating. Index of industrial production (IIP) registered
a 7.8% growth for the financial year 2010-11 as against a growth of 10.5% a
year ago.
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Annual Report - Biocon - 2010-2011
BIOCON LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Dear Shareholders,
We are pleased to present Thirty-third Annual Report on business and
operations together with the audited financial statements and the auditor's
report of your company for the financial year ended 31st March 2011.
Annual Directors Report - Reliance Industries - 2010-11
RELIANCE INDUSTRIES LIMITED
ANNUAL REPORT 2010-2011
DIRECTOR'S REPORT
Dear Shareholders,
Your Directors are pleased to present the 37th Annual Report and the
audited accounts for the financial year ended March 31, 2011.
Financial Results:
The financial performance of the Company, for the year ended March 31, 2011
is summarised below:
Grey Market Premiums - June 25 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 5 to 7 |
| Birla Pacific Medspa | 10 to 11 | 0.30 to 0.45 (Paisa) |
| Rushil Decor | 63 to 72 | 4 to 4.50 |
| Ready Made Steel | 98 to 108 | 6 to 8 |
Rakesh Jhunjhunwala - Interview
In an exclusive conversation with ET Now, Big Bull Rakesh Jhunjhunwala says that he is concerned about the impact of inflation on Indian equities and it is indeed the biggest risk for the markets. He says that the next 3 months are likely to be very difficult period for the markets. Excerpts:
What is your view on the markets?
The next three months are going to be a very difficult period for the markets. The chances to break down to me seem to be greater than the chances to break up, at least in the next three months.
Friday, June 24, 2011
Weekly Stock Picks - June 24 2011
Buy UFLEX
Buy Godrej Inds
Buy Tata Steel
Buy Core Projects
Buy HCL Tech
Weekly Newsletter - June 24 2011
Fantastic Friday saved Indian markets the blushes after starting the week on a sour note. Stocks tumbled on Monday amid speculation that India and Mauritius were considering altering a current tax treaty that could spell trouble for FIIs. However, clarification from the North Block helped sooth some of the frayed nerves.
The market was pretty lackluster after that due to a disappointing monsoon forecast. But stocks rallied on the last two days, sending the Sensex and the Nifty up ~2% on the week.
World equities recovered on Friday on hope that Greece could soon be out of the current fiscal mess. A steep drop in crude oil on Thursday came in handy as well.
Finally, Govt looks like biting bullet on fuel prices
The much-awaited meeting of a high-powered Government panel on fuel prices was postponed to 7:30 pm on Friday. The EGoM on fuel prices was earlier scheduled to meet at 1:00 pm. The EGoM was postponed because the panel was considering various options, and to prevent any possible hoarding, Union Petroleum Minister Jaipal Reddy told reporters in New Delhi.
Meanwhile, shares of IOC, ONGC, HPCL, BPCL, Gail India and Oil India gained in a rising market on hope that the Centre will finally take the bold step of aligning the local fuel prices with the international market.
Markets rise 2% this week
The Indian markets snapped their two-week losing streak and closed on a higher note on Greek optimism and declining crude oil prices
Major news for the week
Food inflation at 9.13% versus 8.96%
PFC consolidated net profit up 11% in FY11
SAIL FY11 consolidated net profit declines by 27%
Zee Entertainment FY11 consolidated net profit at Rs625 crore
Reliance Infrastructure, Reliance Communications to move out of Sensex
Market could be choppy ahead of derivatives expiry
The market is likely to be choppy next week ahead of the expiry on the near-month June 2011 derivatives contracts on Thursday, 30 June 2011. Shares of auto, steel and cement firms will be in focus ahead of monthly sales numbers for June 2011, which will start trickling in from Friday, 1 July 2011. On the macro front, investors will watch the HSBC India Purchasing Managers' Index (PMI), which indicates the performance of the manufacturing sector, for June 2011.
Expectations for Q1 June 2011 results will start building as the first quarter draws towards a close. Housing finance major HDFC kicks off the results season on 8 July 2011. IT bellwether Infosys Technologies will unveil Q1 results on 12 July 2011.
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FII outflow in June 2011 totaled Rs 512.10 crore (till 22 June 2011). FIIs had offloaded shares worth a net Rs 6614.40 crore in May 2011. FII outflow in calendar 2011 totaled Rs 2413.90 crore (till 22 June 2011).
Investors will continue to watch the progress of the monsoon rains. The India Meteorological Department (IMD) recently revised downwards the forecast for the vital monsoon rains this year to slightly below normal from the normal forecast given in April 2011. On the flip side, crop output may not be adversely affected significantly due to the onset of the monsoon rains on time this year and expectations that the rains will be well distributed.
On the global front, the Greek government faces votes next week on the austerity measures and putting it into law before a deadline in mid-July to secure a new bailout from the European Union and IMF.
Greek Prime Minister George Papandreou has reportedly assured European Union (EU) leaders that he would deliver the budget cuts they are demanding in exchange for the next installment of emergency loans and a new rescue plan. The approval of the five-year austerity plan, including deep spending cuts and more tax hikes, by the parliament would bring Greece one step closer to securing the much-needed financial aid.
BSE Small-Cap, Mid-Cap indices slide
The market recovered last week as value buying emerged after a recent steep slide. The recovery helped the Sensex regain the psychological 18,000 level. A steep fall in crude prices on Thursday, 23 June 2011, boosted sentiments. But, the broad market depicted weakness. The BSE Small-Cap index and the BSE Mid-Cap index, both declined.
Stock prices witnessed a steep intraday slide in early trade on Monday, 20 June 2011, on reports the Indian government is reviewing a double tax avoidance treaty with Mauritius. The reports rattled the market given that a big chunk of India's foreign direct investment (FDI) and FII money comes from Mauritius. The market came off lows after the steep intraday slide in early trade on that day after reports later suggested that the government was not currently in talks with Mauritius to review the double tax avoidance treaty with Mauritius. The Sensex ended with a loss of more than 2% on that day as world stocks fell after European finance ministers delayed a decision to hand more bailout cash to Greece.
Market near 1-1/2-week high; Sensex settles above 18,000
Key benchmark indices galloped to attain their highest closing level in almost 1-1/2-week buoyed by firm world stocks. The barometer index BSE Sensex surged past the psychological 18,000 mark. The market edged higher for the second straight day. The Sensex vaulted 513.19 points or 2.89%, up close to 435 points from the day's low and off close to 30 points from the day's high. The market breadth was strong. World stocks rose after Greece reached an agreement with the European Union and the International Monetary Fund over further austerity measures and as comments from China's premier provided reassurance over inflation.
Muthoot Finance Ltd: ‘Dominant player’
Largest gold financing company in the country
Muthoot Finance (Muthoot) is the largest gold financing company in India with a gross gold loan portfolio of Rs. 15.9bn as at March 2011 and a commanding market share (20% in FY10). Company’s AUM has witnessed a phenomenal 82% CAGR over the past four years driven by substantial network expansion, significant improvement in branch productivity, sustained rally in gold prices and strong brand recognition. Gold stock has increased from 23MT to 112MT over FY07-11 representing 49% CAGR. About 67% of the current ~2,900 branches are located in the southern region which contribute 74% to the gold loan portfolio.
Bullions end winning streak
Prices drop considerably in tandem with other commodities
Precious metals ended their seven-day winning streak and ended lower on Thursday, 23 June, 2011 at Comex. Prices fell in tandem with other commodities as crude prices plunged and dollar strengthened considerably.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa. But bullion metals have registered increase in prices despite strong dollar in recent times and vice versa.
Crude prices plunge
Prices drop drastically as IEA decide to pump oil in market
Decision from International Energy Agency to pump in more oil in the market pushed crude oil prices considerably lower on Thursday, 23 June 2011 at Nymex. Prices also fell following mixed economic data from US and China and strong dollar. IEA came out with this decision as they think that recent troubles in Libya have removed close to 130 million barrels of oil from market by May end.
Market opens on a firm note as crude drop
Key benchmark indices edged higher in early trade on firm Asian stocks, which rose as European leaders voiced support for Greece and as a slump in energy prices eased concern the global recovery will falter. The BSE Sensex was up 135.52 points or 0.76%. The market breadth was strong. Index heavyweight Reliance Industries (RIL) advanced for the second day in a row. PSU OMCs jumped on a steep slide in crude oil prices and ahead of a meeting of the empowered group of ministers (EGoM) to discuss fuel prices.
At 09:25 IST, the BSE Sensex was up 135.52 points or 0.76% to 17,863.01. The Sensex jumped 163.51 points at the day's high of 17,891 in early trade, its highest level since 20 June 2011. The index rose 77.45 points at the day's low of 17,804.94 in early trade.
Wednesday, June 22, 2011
Timbor Home surges on debut
Settles at Rs 91.20 on BSE
Shares of Timbor Home settled at Rs 91.20 on BSE, a 44.76% premium over the initial public offer (IPO) price of Rs 63. The stock debuted at Rs 72, a 14.28% premium over the offer price. The stock hit a high of Rs 94.50 and low of Rs 72.
The counter clocked high volume of 3.53 crore shares on BSE.
BSE Bulk Deals to Watch - June 22 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/6/2011 524412 Aarey Drugs URMILABEN GOVINDBHAI PATEL S 25027 23.05
22/6/2011 522150 Aditya Forge NITIN RASIKLAL PAREKH (HUF) B 25000 7.82
22/6/2011 590114 Arunjyoti Enterprises NARENDRAKUMAR SHAH B 35000 41.57
22/6/2011 590114 Arunjyoti Enterprises ARJUN JAGDISH DUNGARSHI S 40000 41.66
NSE Bulk Deals to Watch - June 22 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-JUN-2011,ANSALAPI,Ansal Properties & Ind Lt,LOTUS GLOBAL INVESTMENTS LIMITED,BUY,1807485,39.00,-
22-JUN-2011,GTL,GTL Limited,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,1212572,120.38,-
22-JUN-2011,GTL,GTL Limited,GENUINE STOCK BROKERS PVT LTD,BUY,1404311,119.78,-
22-JUN-2011,LOVABLE,Lovable Lingerie Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,93556,401.12,-
22-JUN-2011,TIMBOR,Timbor Home Limited,A K G SECURITIES AND CONSULTANCY LTD.,BUY,113572,84.43,-
22-JUN-2011,TIMBOR,Timbor Home Limited,AANIR SHARES SERVICES PRIVATE LIMITED,BUY,75000,85.10,-
Directionless trade ends flat
Volatility ruled the roost as the key benchmark indices swung between gains and losses to close the session on a flat note
Major headlines
FMCG shares slip as IMD lowers monsoon forecast
MRF falls sharply after lock-out at Kerala plant
Orchid Chemicals unit clears USFDA inspection
Broad market depicts weakness
The key benchmark indices closed flat after witnessing intraday volatility as European stocks and US index futures edged lower. The BSE Sensex lost 9.67 points or 0.06%, off close to 120 points from the day's high and up close to 60 points from the day's low. The broad market depicted weakness--the market breadth was weak. Data showing substantial selling by foreign funds over the past few days and weather office's forecast of below normal rains in 2011 weighed on the sentiment.
Index heavyweight Reliance Industries (RIL) edged lower amid late volatility. FMCG shares declined after the weather office on Tuesday forecast below normal monsoons rains for 2011. Consumer durables stocks declined on profit taking. IT stocks gained after an overnight rally for the Nasdaq. Maruti Suzuki India and Unitech hit 52 week lows. Interest rate sensitive realty stocks extended recent losses on worries higher interest rates could dent demand for residential and commercial property. Most metal stocks declined on concerns about global economic recovery.
Thursday, June 16, 2011
Market skids to 3-week low as RBI to continue with anti-inflationary stance
Key benchmark indices dropped to three-week lows as concerns over Greece's debt crisis rattled world stocks. Index heavyweight Reliance Industries (RIL) was near 52-week low. The BSE Sensex lost146.36 points or 0.81%, off close to 165 points from the day's high and up close to 30 points from the day's low. The Sensex fell below the psychological 18,000 mark. The market breadth was weak.
Interest rate sensitive realty, banking and auto stocks declined after the Reserve Bank of India (RBI) raised its key lending rate viz. the repo rate by 25 basis points to 7.5%, as expected, after a mid-quarter monetary policy review today, 16 June 2011, to tame inflation and said the monetary policy stance remains firmly anti-inflationary.
Tuesday, June 14, 2011
Daily News Roundup - June 14 2011
Tata Communications has increased its effective holding in South Africa's second-biggest fixed-line phone operator Neotel to 61.5% from 49%. (BS)
The CAG said, the Oil Ministry and its technical arm, the DGH, bent rules for Reliance Industries. (FE)
Hindustan Zinc has hiked the price of lead by 2.6% to Rs1,32,000 per ton in sync with the rise at the London Metal Exchange. (BL)
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Reliance Brands, a part of Reliance Industries (RIL) said its association Timberland in India will not be impacted by VF Corporation's global takeover of the latter. (BS)
Reliance Communications has protested BSNL's move to pull the plug on interconnections between networks of both companies in Punjab and Haryana last month over a financial dispute. (ET)
Larsen & Toubro expects its electrical and automation business to double to Rs80bn by 2015. (BS)
The Goldman Sachs unit picked up 9.1% stake in Max India for about Rs5.22bn (US$116mn). (BS)
Larsen & Toubro has bagged a Rs1.10bn order from the West Bengal State Electricity Distribution Company to supply energy meters. (ET)
Power Grid Corporation of India and Birla Institute of Management and Technology have signed a MoU to jointly explore opportunities abroad for assignments in capacity building, institution development and training and development programmes. (BS)
Gitanjali Gems has acquired Italy-based jewellery firm DIT Group SpA for US$11mn. (BS)
ICICI Bank has reversed its decision to exchange three bonds with new ones due to negative reaction from investors and to avoid speculation about its funding position. (ET)
Infosys Technologies has bagged the first of the Department of Post’s IT modernisation contracts. (BS)
Punj Lloyd has won an EPC nuclear power contract from NPCIL worth Rs6.78bn for critical nuclear piping work at four pressurised heavy water reactors of 700 MWe each. (FE)
JSW Steel Ltd has approached six small mining companies in Goa to procure enough to feed its existing steel plant and the proposed pig iron project in the state. (BS)
The stalemate between the Maruti management and its striking workers at the Manesar plant continued for the 10th day, as a series of negotiations between the two parties failed to yield any result. (BS)
Economy Snippets
India will become the third largest market in the world after China and the US for light vehicles, including passenger cars and light commercial vehicles (LCVs), by 2020, according to market research firm JD Power Asia Pacific. (BS)
The telecom department has pegged the total subsidy for financing the countrywide rural wireless broadband rollout at Rs60-80bn. (ET)
The Commerce and Industry Minister urged the SAFTA member states to bring down all the protectionist trade barriers to achieve regional economies of scale at a much greater pace. (BL)
Farm credit flow surpassed the target by about 14% to Rs4,265bn during 2010-11 financial year. The government had set the target of farm credit disbursal at Rs3,750bn during the year. (BS)
Markets may see a quiet start
Today’s opening is expected to be subdued on account of mixed global cues. May inflation readings will remain in focus
Headlines for the day:
R-Infra looks for ongoing projects to boost toll biz
Citigroup to cut stake in HDFC in $260-300 mn deal
Maruti deadlock continues as negotiations fail
Market may open higher on firm Asian stocks; inflation data eyed
The market may open flat to slightly higher snapping recent losses on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 6 points at the opening bell. Foreign institutional investors (FIIs) sold shares worth Rs 304.17 crore and domestic funds bought shares worth Rs 27.34 crore on Monday, 13 June 2011, as per provisional figures released by the stock exchanges.
Monday, June 13, 2011
Markets end flat in choppy trade
Markets close the first day of the week on a flat note. The Sensex down by 3 points and the Nifty down by 3 points.
Major headlines
Titan hits 52-week high on bonus, stock split nod
Max India allots shares to Goldman Sachs arm; stk soars
Atul Auto gains on plans to foray into LCV segment
NSE Bulk Deals to Watch - June 13 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-JUN-2011,AANJANEYA,Aanjaneya Lifecare Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,191252,324.31,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,BASMATI SECURITIES PVT LTD,BUY,12008,21.00,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,INDIA MAX INVESTMENT FUND LTD,BUY,950000,21.00,-
13-JUN-2011,ACROPETAL,Acropetal Tech Ltd,INDRAVARUN TRADE IMPEX PVT LTD,BUY,38040,21.00,-
13-JUN-2011,FIRSTLEASE,First Leasing Company ,AJAY,BUY,278699,110.26,-
13-JUN-2011,FIRSTLEASE,First Leasing Company ,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,641997,110.21,-
Nifty June 2011 futures above 5500
Turnover drops
Nifty June 2011 futures were at 5501.90, at a premium of 19.10 points over spot closing of 5482.80. Turnover on NSE's futures & options segment declined to Rs 82244.24 crore from Friday's (10 June 2011) Rs 89453.69 crore.
Market recovers from 2-week trough
The key benchmark indices recovered as bargain hunting emerged after the market hit its lowest level in more than two weeks at the onset of the trading session. The barometer index BSE Sensex ended 2.51 points or 0.01% lower, up close to 145 points from the day's low and off close to 45 points from the day's high. Capital goods, consumer durables and infrastructure stocks gained. Metal stocks declined. Auto stocks rose on bargain hunting. The market breadth turned positive from negative in late trade. Index heavyweight Reliance Industries edged lower.
Daily News Roundup - June 13 2011
GAIL is making a non-binding bid for acquiring 20% interest in shale gas assets owned by a US company; the deal is estimated to cost some US$400-500mn. (TOI)
Reliance Industries to buy Bharti's 74% stake in insurance venture with AXA. (FE)
DGH refuses to accredit three natural gas discoveries made by Reliance Industries at its KG-D6 block. (ET)
PM assures support to set up refinery at Cairn-run oilfields. (ET)
Sensex slips on IIP data...Nifty ends below 5500
The Indian equity markets ended in the red for a third straight trading session on Friday, with the NSE Nifty closing below the crucial 5500 mark, as index heavyweights like L&T, Tata Steel, ICICI Bank and Hero Honda succumbed to fresh round of selling. The market sentiment was hit after the release of disappointing industrial production data.
India's industrial output grew by 6.3% in April 2011 as per the new series. This was lower as compared to the 8.8% expansion in March as per the new series. As far a the old series is concerned, Industrial output grew by a modest 4.4% in April this year versus 7.3% in March 2011.
Getting worse?
Time is that quality of nature which keeps events from happening all at once. Lately it doesn't seem to be working. - Anonymous.
The UPA II regime has really not lived up to expectations so far. The government has its task cut out on multiple battle fronts - be it inflation, corruption or foreign policy. Policy making is in a limbo and India Inc. is not amused, nor is the market. So, it remains to be seen if Manmohan Singh & Co. can still resurrect the situation.
Gap-down opening on the cards
The Indian indices head towards a lower start tracking losses across the globe. The trend on the Dalal Street is likely to remain range bound.
Headlines for the day:
Essar eyes Indonesia, Australia resources to meet domestic demand
Kingfisher may lease more planes, eye PEs for funds
HPCL Mumbai refinery to shut half of capacity for two-month revamp
Market may extend losses on weak Asian stocks; RIL in focus
The market may extend recent losses on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 21.50 points at the opening bell. Foreign institutional investors (FIIs) sold shares worth Rs 170.05 crore and domestic funds bought shares worth Rs 336.98 crore on Friday, 10 June 2011, as per provisional figures released by the stock exchanges.
The key benchmark indices reached their lowest closing level in nearly two weeks on Friday, 10 May 2011. The BSE Sensex lost 116.36 points or 0.63% to 18,268.54, its lowest level since 30 May 2011 on that day.
Precious metals turn pale
Gold registers modest weekly losses but silver witnesses weekly gains
Precious metals dropped substantially on Friday, 10 June, 2011 at Comex. Prices fell as the dollar strengthened. The dollar found support on Friday following fresh concerns about Greece's debt problems. Prices also dropped in tandem with slipping oil prices.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa. But bullion metals have registered increase in prices despite strong dollar in recent times and vice versa.
Weak day for base metals
Chinese data and strong dollar tarnish prices
Red metal price dropped at Comex on Friday, 10 June 2011. Prices dropped in tandem with other commodities on Friday. Strong dollar and weak trade data from China hampered prices.
Copper for July delivery ended lower by 5 cents (1.3%) to end at $4.06 a pound at Comex on Friday. For the week, the red metal lost 1.7%. Copper had ended flat for the month of May.
On Friday, three-month-delivery copper on the London Metal Exchange ended lower by $58 (0.7%) at $8,988 a metric ton.
Crude witnesses steep fall
Strong dollar, Chinese data and monthly outlook from OPEC impact prices
Crude oil prices plunged on Friday, 10 June 2011 at Nymex. Prices dropped following a strong dollar, data from China and latest monthly outlook on crude from OPEC.
On Friday, crude oil futures for light sweet crude for July delivery closed lower by $2.64 (2.6%) at $99.24/barrel. For the week, crude lost 0.9%. Crude had lost 9.9% for the month of May.
Saturday, June 11, 2011
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