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Friday, July 22, 2011
Weekly Stock Picks - July 22 2011
Buy Tech Mahindra
Buy GAIL
Buy Sintex Inds
Buy M&M
Buy Adani Enterprises
Weekly Newsletter - July 22 2011
A fairly listless week ended with a bang, helping the main indices gain almost 1% each. But, overall things remain pretty choppy and uncertain. There could be further advance if global markets remain supportive. The real test will be the 200-DMA levels.
FM sees improvement in inflation in coming days
Finance Minister Pranab Mukherjee expressed hope that inflation situation would improve in the days ahead. "If this declining trend continues, I do hope it will have a moderating influence on the price front," he told reporters in New Delhi. Mukherjee said that the domestic situation on inflation was improving, though concerns remain over international issues. "The trend is encouraging so far as the domestic sector is concerned. But we do not have total control over international issues, international commodity prices, fuel prices. The influence of the external inflationary pressure could have some adverse impact on our domestic front," he said.
In his interaction with the media, the Finance Minister said that he expects WPI inflation to come down to 6-7% by the end of March 2012. "Food inflation which was high at 22% in February 2010 has come down to 8%. This is also not acceptable. But a declining trend is there," he said. On the other hand, the Finance Ministry said that inflation will continue to remain high till December on account of seasonal effects and upward movement in crude oil, manufactured and administered fuel prices.
Mukherjee stuck to the Economic Survey's growth projection of 9% (+/- 0.25%) GDP growth for FY12. But a note circulated by the Finance Ministry scaled down the growth rate to 8.6%, from an initial projection of 9%. The Finance Minister dismissed talk of any drift in UPA II while also rejecting allegations that the Government was going slow on important reforms.
A series of major economic enactments are likely to come up in the monsoon session of Parliament that starts on August 1, he said. Bills on land acquisition, mining & mineral development, food security and the Lokpal will be introduced in the parliament, Mukherjee said. "I see no reason for such cynicism. All measures are being taken and there is no let-up in our efforts. There is
Sensex soars on global bounce...Nifty ends above 5600
BSE Sensex ended at 18,722, adding 286 points. ItNSE Nifty closed at 5,634, adding 92 points.
After meandering for the past two days, the Indian market sprung back to life on Friday, powered by positive cues from the overseas markets. Equities surged across global markets after European leaders agreed to a new US$229bn bailout plan for debt-plagued Greece that includes private sector support. They also strengthened their 440-bn euro rescue fund to buy debt of the struggling eurozone nations.
Markets cheer Greece aid deal; Sensex soars 286 points
The announcement of a second bailout package for Greece improved the sentiment across the globe, leading to a fresh buying by investors. The Sensex up 286 points and the Nifty up 92 points.
Major headlines
Axis Bank Q1 net profit rises 27%
Union Bank of India Q1 net profit down 23%
Bharti Airtel hikes tariff by 20%
BSE Bulk Deals to Watch - July 22 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/7/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 84869 844.21
22/7/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD B 137554 854.79
22/7/2011 590006 Amrutanjan Health-$ CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED B 38691 855.11
NSE Bulk Deals to Watch - July 22 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,A K G SECURITIES AND CONSULTANCY LTD.,BUY,16336,857.29,-
22-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,BP FINTRADE PRIVATE LIMITED,BUY,33584,864.90,-
22-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,C D INTEGRATED SERVICES LTD.,BUY,18659,849.54,-
22-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,CHAKRAVARTHI S,BUY,17280,870.73,-
22-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,38309,852.85,-
Market may see volatility ahead of derivatives expiry
The market could be choppy next week ahead of the expiry on Thursday, 28 July 2011, of the near-month July 2011 futures & options (F&O) contracts. The key event of the week is the Reserve Bank of India's (RBI) monetary policy review on Tuesday, 26 July 2011. The RBI is seen raising its key lending rate by 25 basis points at its first quarter review of the monetary policy 2011-12 on Tuesday, 26 July 2011, to tame inflation, which remains much above the central bank's perceived comfort level of 5% to 6%.
Market gains as monsoon picks up, food inflation eases
Pick up in monsoon rains and easing of food inflation helped equities registers gains during the week ended Friday, 22 July 2011. Trading was choppy due to stock specific action based on Q1 June 2011 result announcements. A second bailout package for Greece boosted world stocks on Friday, 22 July 2011.
The Sensex rose 160.38 points or 0.86% to settle at 18,722.30 in the week ended Friday, 22 July 2011, its highest closing level since 8 July 2011. The 50-unit S&P CNX Nifty rose 52.85 points or 0.95% to settle at 5,633.95, its highest closing level since 8 July 2011.
Sensex, Nifty scale two-week highs on Greek bailout deal
A pick up in monsoon rains and a second bailout deal for Greece boosted sentiment with the key benchmark indices attaining two-week closing highs. The BSE Sensex jumped 286.11 points or 1.55%, up 188.87 points from the day's low and off 24.76 points from the day's high. The market breadth was strong. Stocks rose across the globe after European Union officials on Thursday, 21 July 2011, hammered out a new aid package for Greece and plans to prevent the spread of the sovereign debt crisis.
Grey Market Premium - L&T Finance, Inventure Growth
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 2 to 2.50 |
| Bharatiya Global | 75 to 82 | 1.50 to 2 |
| Inventure Growth | 100 to 117 | 2 to 3 |
| L & T Finance | 51 to 59 | 4 to 4.50 |
Global optimism may lead markets to start strong
It is expected to be a healthy opening tracking supportive global cues. Inventure Growth & Securities IPO closes today.
Headlines for the day:
OHPC and NHPC jointly to launch 320 MW hydro power prjoect
Emami to set up oil refinery in Andhra
Dr Reddy's scouts ally for new chemical entity Balaglitazone
Daily News Roundup - July 22 2011
Vedanta Aluminum Ltd is open to make a fresh proposal to obtain environmental clearance for the expansion plans at its aluminum unit in Lanjigarh, Orissa.(BS)
Reliance Industries is occupying centre stage in diplomatic relations between India and Saudi Arabia as the oil-rich kingdom is mounting intense pressure on New Delhi to withdraw anti-dumping duty on the plastics raw material.(ET)
JSW Energy plan to expand its Ratnagiri power plant by 3,200 Mw would be postponed till issues regarding imported coal were sorted.(BS)
Sensex dips in choppy trade...Nifty below 5550
The Indian markets ended in red for the second straight trading session on Thursday as investors turned cautious amid a few disappointing corporate results. The NSE Nifty closed below the 5550 level amid weak cues from the international equity markets.
Indian markets opened lower but quickly recovered to hit day's high in the early trades. However, the main indices were unable to hold on to their gains despite the Finance Minister stating that the pessimism over the economy was overdone.
Rescue team arrives!
"Hope is the expectation that something or someone external, is going to come to our rescue and we will live happily ever after. - Dr. Robert Anthony.
After a fairly lackluster week, hope are of a good rally today - at least at start. Overseas markets are fired up after European leaders agreed to a new $229bn bailout plan for debt-plagued Greece that includes private sector support. They also strengthened their 440-bn euro rescue fund to buy debt of the struggling eurozone nations.
Precious metals lose some sheen as European leaders try to save euro
Bullions drop for third straight day
Precious metals ended lower for third straight day on Thursday, 21 July, 2011 at Comex. Gold prices dropped for the third time in thirteen sessions. Precious metals lost some of their sheen after European leaders agreed on a plan to try to contain the region's sovereign-debt crisis.
The yellow metal wavered between small gains and losses most of the session, supported in part by a lower dollar and doubts the European Union plan would be effective and enough to restore investors' faith in Europe and the euro. September silver also wavered between small gains and losses alongside gold, and ultimately followed gold lower.
Market may gain on firm Asian stocks
The market may gain on firm Asian stocks which rose after a new aid plan for Greece's debt problem. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a gain of 63 points at the opening bell. FIIs sold shares worth a net Rs 577.64 crore on Thursday, 21 July 2011, as per provisional data from the stock exchanges. Domestic institutional investors (DIIs) bought shares worth Rs 408.36 crore on that day.
Weak global cues pushed Indian stocks lower for the second straight session on Thursday, 21 July 2011. The BSE Sensex fell 66.19 points or 0.36% to 18,436.19, its lowest closing level since 12 July 2011.
Yes Bank Q1 net profit jumps 38%; stock down
Yes Bank has announced the following unaudited results for the quarter ended June 30, 2011:
The net profit of the bank surged by 38.18% to Rs216.08 crore for the quarter ended June 30, 2011 as compared to Rs156.37 crore for the quarter ended June 30, 2010.
Total Income of the bank increased by 77.21% to Rs1564.83 crore for the quarter ended June 30, 2011 from Rs883.03 crore for the quarter ended June 30, 2010.
At 12.28 pm, Yes Bank was trading at Rs316, down by 0.77%, with a volume of 2.81 lakh shares on the BSE
Ingersoll Rand Q1 net profit at Rs18.05; stk slips
Ingersoll Rand's standalone net profit for June 2011 quarter rose by 11.90% to Rs18.05 crore against Rs16.13 crore for the quarter ended June 2010.
Net sales rose by 24.91% to Rs125.79 crore for the quarter ended June 2011 as compared to Rs100.70 crore for the quarter ended June 2010.
At 12.07 pm, Ingersoll Rand was trading at Rs490.25, down by 6.24%, with a volume of 0.96 lakh shares on the BS
Hero Honda Q1 net profit surges 13%
Hero Honda Motors Ltd has announced the following results for the quarter ended June 30, 2011:
The Unaudited results for the Quarter ended June 30, 2011
The net profit of company surged by 13.46% to Rs557.89 crore for the quarter ended June 30, 2011 as compared to Rs491.69 crore for the quarter ended June 30, 2010.
The total income of the company increased by 32.68% to Rs5771.74 crore for the quarter ended June 30, 2011from Rs4350.03 crore for the quarter ended June 30, 2010.
At 2.04 pm, Hero Honda Motors was trading at Rs1758, down by 0.18%, with a volume of 0.82 lakh shares on the BSE.
JSW Energy falls 5% on weak Q1 results
JSW Energy announced the following unaudited results for the quarter ended June 30, 2011:
Standalone results:
The net profit of the company slipped 42% to Rs190.26 crore for the quarter ended June 30, 2011 as compared to Rs327.20 crore for the quarter ended June 30, 2010.
Total income increased by 30% to Rs1198.85 crore for the quarter ended June 30, 2011 from Rs922.18 crore for the quarter ended June 30, 2010.
Consolidated results:
The net profit of the company down by 62% to Rs136.31 crore for the quarter ended June 30, 2011 as compared to Rs298.64 crore for the quarter ended June 30, 2010.
Total income increased by 34.43% to Rs1294.48 crore for the quarter ended June 30, 2011 from Rs962.87 crore for the quarter ended June 30, 2010.
At 2.24 pm, JSW Energy was trading at Rs71.80, down by 5.59%, with a volume of 10.68 lakh shares on the BSE.
Coromandel Intl Q1 cons net profit rises 32%
Coromandel International Ltd has announced the following results for the quarter ended June 30, 2011:
Standalone Results
The Unaudited results for the Quarter ended June 30, 2011
The net profit of the company surged by 31.21% to Rs159.35 crore for the quarter ended June 30, 2011 as compared to Rs121.45 crore for the quarter ended June 30, 2010.
The total income of the company increased by 15.32% to Rs1814.75 crore for the quarter ended June 30, 2011 from Rs1573.60 crore for the quarter ended June 30, 2010.
Consolidated Results
The Unaudited consolidated results for the Quarter ended June 30, 2011
The net profit of the group advanced by 32.34% to Rs158.89 crore for the quarter ended June 30, 2011 as compared to Rs120.06 crore for the quarter ended June 30, 2010.
The total income of the group increased by 15.28% to Rs1814.94 crore for the quarter ended June 30, 2011 from Rs1574.42 crore for the quarter ended June 30, 2010
At 3.17 pm, the stock was trading at Rs329.80, down by 1.20%, with a volume of 0.65 lakh shares on the BSE.
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