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Wednesday, July 06, 2011

Aurobindo Pharma

Aurobindo Pharma

China hikes interest rates by 25 bps

The People's Bank of China (PBOC) said today that it will raise the one-year yuan lending rate to 6.56% from 6.31%. The one-year yuan deposit rate will be hiked to 3.50% from 3.25%.

China's central bank said on Wednesday that it would increase the benchmark deposit and lending rates by a quarter percentage point as part of the government's efforts to rein in spiraling inflation.

The People's Bank of China (PBOC) said today that it will raise the one-year yuan lending rate to 6.56% from 6.31%. The one-year yuan deposit rate will be hiked to 3.50% from 3.25%.

This is the third rate increase by PBOC this year and its fifth rate increase in the latest round of monetary tightening.

The Chinese central bank has also hiked banks' reserve requirement ratio (RRR) six times in 2010 and six times so far this year.

BSE Bulk Deals to Watch - July 6 2011

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
6/7/2011 524412 Aarey Drugs THAKORLAL ATMA RAM MODI B 96654 21.50
6/7/2011 524412 Aarey Drugs BHAVINI VIJAYKUMAR SHAH B 25005 22.08
6/7/2011 524412 Aarey Drugs JAGDISH RADADIA RADADIA S 50000 21.50
6/7/2011 524412 Aarey Drugs HARSHA J RADADIYA S 50000 21.50
6/7/2011 524412 Aarey Drugs SHAH VIJAY BABULAL S 33000 22.01

NSE Bulk Deals to Watch - July 6 2011

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
06-JUL-2011,DCM,DCM Ltd,TRINADH KIRAN VEMURI,BUY,89223,95.18,-
06-JUL-2011,EMAMIINFRA,Emami Infrastructure Ltd,SHOPARNA BROTHERS PRIVATE LIMITED,BUY,167000,37.00,-

Sensex up 2% in June, outperforms its global peers

Bulls were back in June, with the markets surging nearly 2% on mainly robust FII inflows, easing Greece worries, fall in crude oil prices and good monsoon

Major news for the month

RBI raises repo, reverse repo by 25 basis points

Inflation in May at 9.06% versus 8.66%

India's Q1 corporate tax intake soars 77%

April IIP at 6.3% versus 7.3%

Economy to grow 8.5%: FM

Asia-Pacific market dips on Portugal downgrades, ahead of US Jobs report

Asia-Pacific market ended lower in subdued trade on Wednesday, July 06, 2011, as investors booked some profit amid mixed cues from offshore market, coupled with worries about the health of the euro-zone economy, possible Chinese interest-rate increase, and ahead of Friday's US jobs report.

Investors sold riskier assets as a result of Portugal's rating downgrade, negative economic reports from Europe and concern about Mainland Chinese banks' exposure to local government debts.

Sensex, Nifty at one-week closing lows

A slide in European stocks pushed Indian shares to one-week lows as investors awaited first quarter corporate results, which begin later this week. The Sensex lost 17.59 points or 0.09%, up 44.37 points from the day's low and off 96.48 points from the day's high. The market breadth was positive. Most banking shares dropped as financials fell across Europe after Moody's Investor Service on Tuesday, 5 July 2011, downgraded Portugal's sovereign ratings. HDFC Bank bucked the trend, with the stock hitting a record high on expectations of strong Q1 results.

Index heavyweight Reliance Industries (RIL) rose in choppy trade, reversing Tuesday's over 2% slide. Some auto stocks extended recent gains triggered by expectations that sales will pick up in the second half of the year. IT pivotals fell as the rupee hit a two-month high against the dollar. Telecom pivotals saw divergent trend. Select metal stocks rose.

Daily Research - July 6 2011

Daily Research - July 6 2011

Daily News Roundup - July 6 2011

RIL has written to DGH committing it will immediately start drilling three wells. (BS)

ONGC, which is exploring coal bed methane in eastern India, will relinquishing one block and file product sharing contract for four on which it has found gas in viable quantities this year. (ET)

Coal India Ltd's plan to import through long-term off-take contracts may not materialise before the end of this fiscal. (BL)

Sensex ends in red…Volumes taper off

The Indian market ended with modest losses on Tuesday at the end of a lackluster trading session and thin volumes. Today’s slight decline was seen on the back of low level of participation, as most players chose to lock in some gains after last week’s advance. The total combined turnover stood at a paltry Rs. 70,000 crore.

Within the Sensex and Nifty the top gainers were M&M, SBI, Maruti Suzukiand Sterlite, while BHEL, RIL, Hindalco and ITC were among the top losers.

Real issues to deal with!

Don't let us make imaginary evils, when you know we have so many real ones to encounter. - Oliver Goldsmith.

The positive buzz appears to have gone quiet after the recent advance on the bourses. Volumes have tapered off lately ahead of the earnings. Europe is still grappling with the sovereign debt issues, despite Greece averting a default. S&P has warned that any rollover of Greek debt will amount to "selective default". Meanwhile, Moody’s has cut Portugal’s credit rating to junk. Even the US is facing a deficit-cum-debt problem. A fierce tug-of-war is underway between the Obama administration and the Republicans.

Smart Moves: BF Utilities up 9%, MOIL up 5%

BF Utilities

BF Utilities, engaged in infrastructure business, jumped 9.17% to close at Rs769.25.

Performance on periodic basis:

On weekly basis (June 28-July 05, 2011), the stock rose 11.13% from Rs692.20.
On monthly basis (June 03-July 05, 2011), the stock rose 3.50% from Rs743.20.
On yearly basis (July 05, 2010-July 05, 2011), the stock rose 11.21% from Rs691.70.


MOIL, the largest domestic manganese producer, jumped 5.17% to close at Rs356.75.

Performance on periodic basis:

On weekly basis (June 28-July 05, 2011), the stock rose 9.11% from Rs326.95.
On monthly basis (June 03-July 05, 2011), the stock rose 0.46% from Rs355.10.

Other top gainers in today's trade:

Asit C.Mehta Financial Services (19.93%), SRHHL Industries (18.11%), Tasty Bite Eatables (16.78%), Mahindra Forgings (16%) and Hittco Tools (15.91%).

SGX Nifty Live Update - July 6 2011

5,655.00 +5.00