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Wednesday, January 12, 2011
2011 IPOs
Micromax
India's biggest domestic mobile handset seller Micromax Informatics is expected to go public early in 2011. The company filed its prospectus late last month. The company is expecting to raise 426 crore through the offer. The company will use 50 percent of the IPO proceeds to set up a handset manufacturing plant in India while the rest would be spent in areas such as marketing and expansion. Micromax, according to IDC, has a 4.1 percent market share in India and is now valued at over $1 billion. M Financial, Citigroup, Edelweiss and Nomura are the book running lead managers to the issue. For the year ended March 2010, Micromax had sales of 1,600 crore on selling over 70 lakh handsets, with a net profit of 200 crore, as against revenue and profit of 350 crore and 35 crore respectively for the previous year.
Markets ride on bargain hunting, global cues
The Indian markets broke six-day decline and closed with strong gains due to positive global cues and short covering in beaten down stocks.
Major headlines
November IIP at 2.7%
Tata Steel slips on concerns of dilution
Pfizer surges on good Q4 results
BSE Bulk Deals to Watch - Jan 12 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
12/1/2011 530027 Aadi Inds VIPUL PRAVINCHANDRA DOSHI HUF S 101884 52.01
12/1/2011 590033 APW President RAJASTHAN GLOBAL SECURITIES LTD B 94950 182.25
NSE Bulk Deals to Watch - Jan 12 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
12-JAN-2011,ASHCONIUL,Ashco Niulab Ind Ltd,RAGA SHARES AND SECURITIES PVT LTD,BUY,339605,4.24,-
12-JAN-2011,BEDMUTHA,Bedmutha Indust Ltd,MAHESH MEETAL,BUY,231563,82.53,-
12-JAN-2011,BEDMUTHA,Bedmutha Indust Ltd,SAAKSHI SHARES PVT.LTD.,BUY,150000,84.55,-
Market surges in choppy trade as world stocks rally
The key benchmark indices surged, snapping six-day slide, on firm world stocks. Bargain hunting emerged after a recent steep slide. The market shrugged off disappointing industrial production data for November 2010. Index heavyweight Reliance Industries (RIL) jumped. IT pivotals gained, with sector bellwether Infosys trading firm on the eve of Q3 December 2010 results on Thursday, 13 January 2011.
Post Market Review - Jan 12 2011
Markets broke the 6-day losing streak and did it in style as benchmark indices, after falling sharply on the back of disappointing IIP data, recovered a hefty 2.6% from the lowest point of the day and closed higher by just under 2%, the highest one day gain in nearly two months. Sensex surged 338 points to close at 19534 while Nifty settled at 5863, up 109 points. BSE mid-cap and small-cap indices gained 1.7% and 1.4% respectively. November IIP grew by just 2.7%, the slowest growth in a year and a half. October figure was however revised upward from 10.8% to 11.3%.Stocks belonging to beaten down rate sensitive sectors, viz. Realty, Banking and Auto gained the most in today's trade along with consumer durable and metal stocks, primarily on the back of short covering. Leading European markets were trading strong, with gains raging from 0.5% to 1.5% ahead of Portuguese bond auction. US stock indices futures were up about half a percent ahead of Fed report on current economic conditions.
Technical Calls - Jan 12 2011
Sensex (19196)
Sensex has resistance at 19336, 19492 and 19503. Support at 19073 and 19005.
NIFTY (5754)
Resistance at 5765, 5779, 5795 and 5829. Support at 5744, 5728, 5711 and 5700.
RECOMMENDATIONS
1) UTV SOFTWARE (544.25)
Support at 539 and 531. (Buy at declines) Resistance at 549 above it can test 555 and 563.
2) PFIZER (1123.25)
Support at 1110 and 1085. Resistance at 1130 above 1148 and 1165. (Buy for short term)
3) HINDUSTAN ZINC (1380)
Support at 1362 and 1345. Resistance at 1388 above it can test 1402 and 1435. (Buy for short term)
4) INFOSYS (3325)
Support at 3288 and 3205. Resistance at 3381 above 3411 and 3450. Expect volatile movements.
5) TATA STEEL (646.55)
The stock has support at 640 and 637. (Buy at declines). Resistance at 652 above 660 and 665
via Geojit
Grey Market Premiums - Jan 12 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Shekhawati Poly Yarn | 30 (Fixed Price) | +/- 2 to 3 |
| C. Mahendra Export | 95 to 110 | 3 to 4 |
| Mid Valley Enter | 64 to 70 | 6 to 7 |
Positive opening likely; IIP data eyed
The Indian markets are expected to take a breather and start the session on a positive note tracking bullish global sentiments. IIP data will be in focus
Headlines for the day
Government puts SAIL FPO on fast track
PM drives govt's effort to find a price-rise fix
Sugar export put on hold; EGoM to take decision
Market seen ending six-day declining trend on firm global markets
The market is likely to open higher, ending its six-day declining trend, on firm global cues. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a gain of 12 points at the opening bell. Industrial output data for the month of November 2010 to be released today, 12 January 2011, will be closely watched.
Nifty January 2011 futures above 5,800
Turnover declines
Nifty January 2011 futures were at 5,808.20, at a premium of 54.10 points over spot closing of 5,754.10. Turnover in NSE's futures & options (F&O) segment declined to Rs 161210.80 crore from Rs 172712.55 crore on Monday, 10 January 2011.
Precious metals rise for second straight day
Prices register modest gains as dollar stays steady
Precious metals ended higher for second straight day on Tuesday, 11, January 2011 at Comex. Prices rose as the dollar stayed steady and sovereign problems in Europe re-emerged. Bullion metals had ended their four-day losing streak and ended higher on Monday.
Crude adds gains
EIA raises its crude price forecast for the year
Crude prices ended higher on Tuesday, 11 January 2011 at Nymex. Prices rose due to a steady dollar and concerns over supply disruptions due to a leakage discovered at Trans-Alaska pipeline. Energy agency's forecast of crude prices for the full year also boosted prices.
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