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Tuesday, July 26, 2011
Pidilite Ind falls after Q1 results
The shares of Pidilite Industries down over 3%, hitting the weekly low of Rs170.35 after the company declared its Q1 results. So far, 1.36 lakh shares have traded on the BSE as against the two-week average volume of 0.45 lakh shares.
Pidilite Industries’ net profit up nearly 1% to Rs105 crore in Q1FY12 versus Rs104 crore in Q1FY11.
The company’s net sales rose by 20.89% to Rs845 crore in Q1FY12 versus Rs699 crore in Q1FY11.
At 2.24 pm, Pidilite Industries was trading at Rs170.90, down by 3.58%, with a volume of 1.36 shares on the BSE
Shoppers Stop skids on Q1 results
Shares of Shoppers Stop declined nearly 7%, touching the weekly low of Rs435.05, after reporting consolidated net loss of Rs1.60 crore for the first quarter ended June 30, 2011, compared with a net profit of Rs9.30 crore in the corresponding quarter of the previous fiscal.
However, income from operation grew 67% to Rs593 crore from Rs355 crore during the recently concluded quarter, the company said.
Hypercity financials: From the consolidated statement, it appears that Hypercity posted very weak numbers on both the revenue as well as the profitability front (can be a result of high corporate and store level expenses as one new hypercity was added during the quarter).
At 2.27 pm, Shoppers Stop was trading at Rs448, down by 3.85%, with a volume of 1.07 lakh shares on the BSE.
JSW Steel Q1 cons net profit soars 64%
JSW Steel announced the following unaudited results for the quarter ended June 30, 2011:
Standalone results:
The net profit of the company surged by 65.10% to Rs578.32 crore for the quarter ended June 30, 2011 as compared to Rs350.27 crore for the quarter ended June 30, 2010.
Total income increased by 51.41% to Rs7086.26 crore for the quarter ended June 30, 2011 from Rs4680.24 crore for the quarter ended June 30, 2010.
Consolidated results:
The net profit of the group rose by 64.26% to Rs485.16 crore for the quarter ended June 30, 2011 as compared to Rs295.37 crore for the quarter ended June 30, 2010.
Total income increased by 53.47% to Rs7455.67 crore for the quarter ended June 30, 2011 from Rs4858.09 crore for the quarter ended June 30, 2010.
At 3.05 pm, JSW Steel was trading at Rs874, up by 0.55%, with a volume of 4.22 lakh shares on the BSE.
Opto Circuits Q1 cons net profit jumps 40%
Opto Circuits (India) has announced the following Unaudited results for the quarter ended June 30, 2011:
Standalone Results:
The net profit of the company rose by 0.33% to Rs57.14 crore for the quarter ended June 30, 2011 as compared to Rs56.95 crore for the quarter ended June 30, 2010.
Total income surged by 13.96% to Rs155.23 crore for the quarter ended June 30, 2011 to Rs136.21 crore for the quarter ended June 30, 2010 to
Consolidated Results:
The net profit of the company advanced by 40.07% to Rs116.39 crore for the quarter ended June 30, 2011 as compared to Rs83.09 crore for the quarter ended June 30, 2010.
Total income rose by 74.45% to Rs525.73 crore for the quarter ended June 30, 2011 to Rs301.35 crore for the quarter ended June 30, 2010.
Opto Circuits (India) closed at Rs275.10, up by 0.55%, with a volume of 1.43 lakh shares on the BSE.
Sensex spooked by RBI's aggression
BSE Sensex ended at 18,518 slipping 353 points. NSE Nifty closed at 5,574 losing 105 points.
Indian stock indices closed with steep losses at the end of a shocking day, as the RBI took everybody by surprise with a wider-than-anticipated rate hike and persistently hawkish stance. After crossing the 5700 mark in early morning, the main indices nose-dived soon after the RBI raised the key policy rates by half percentage point and raised its inflation estimate for FY12 to 7%.
BSE Bulk Deals to Watch - July 26 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
26/7/2011 530027 Aadi Inds GUINESS FINANCE & LEASING PRIVATE LIMITED S 234000 15.66
26/7/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD B 52901 949.78
26/7/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 51745 954.23
NSE Bulk Deals to Watch - July 26 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
26-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,C D INTEGRATED SERVICES LTD.,BUY,20954,957.35,-
26-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,23867,948.47,-
26-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,51850,953.72,-
26-JUL-2011,AMRUTANJAN,Amrutajan Health Ltd,HAPPY SANAN,BUY,24616,954.38,-
RBI action spooks market; Sensex ends 353 points lower
Overall sentiment was disturbed after the RBI’s hawkish stance. The Sensex plunges 353 points and the Nifty falls by 105 points at the close
Major headlines
RBI hikes repo, reverse repo by 50 bps
BHEL Q1 net profit surges 22%
Maruti Suzuki Q1 net profit soars 18%
Gains trickle in Asian stocks
Markets end mostly higher as buying support emerges on hopes of steady earnings growth and helps major benchmarks recoup their losses from the previous session
The Asian markets ended mostly higher today as buying support emerged on hopes of steady earnings growth and helped the major benchmarks recoup their losses from the previous session. However, the sentiments remained subdued as investors eyed the lack of credible action for raising the US debt ceiling. The US Treasury Department has said that a deal must be struck by August 2 or the United States would be at risk of temporarily not being able to meet commitments such as paying interest on debt, Social Security or paying government employees. The DOW fell in overnight trades, giving up 0.70% and safe havens like Gold and Swiss franc rallied. Indian equities turned the other way though as the central bank hiked the interest rates by a much wider 50 basis points. The Euro surged and DOW futures gained slightly in Asia, helping lift up the momentum.
L&T Finance Holdings IPO Analysis
L&T Finance Holdings (L&TFH), promoted by Larsen & Toubro, is a holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries. The company is registered with the Reserve Bank of India as an NBFC-ND-SI (systemically important non-deposit taking non-banking financial company)
RBI's aggressive rate hike spooks market
Key benchmark indices tumbled after a higher-than-expected hike of 50 basis points by the Reserve Bank of India (RBI) in its key lending rate at a policy review today, 26 July 2011. Interest rate sensitive automobile, real estate and banking stocks led the decline. The BSE Sensex fell 353.07 points or 1.87%, off close to 426.38 points from the day's high and up close to 36.59 points from the day's low. The Reserve Bank of India (RBI) raised the repo rate by 50 basis points (bps) to 8% at its first quarter review of monetary policy 2011-12 announced today, 26 July 2011, which was steeper than market expectations of 25 bps hike.
Market may open higher on firm Asian stocks. RBI's monetary policy in focus
The market may open higher as most Asian stocks edged higher. The rate sensitive auto, realty and banking stocks will be in action as RBI is seen raising its key lending rate by 25 basis points at its first quarter review of the monetary policy 2011-12 today, 26 July 2011, to tame inflation, which remains much above the central bank's perceived comfort level of 5% to 6%.
FIIs bought shares worth a net Rs 315.72 crore on Monday, 25 July 2011, as per provisional data from the stock exchanges. Domestic institutional investors (DIIs) bought shares worth Rs 224.25 crore on that day. Indian stocks shrugged off weak global cues and gained for the second straight day on Monday, 25 July 2011 led by telecom stocks, which rose on hopes other carriers would follow Bharti Airtel by raising call rates. A reform initiative from the government to open up multi-brand retail boosted sentiment. The BSE Sensex rose 148.99 points or 0.80% to 18,871.29, its highest closing level since 7 July 2011.
Grey Market Premiums - L&T Finance
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | 1.50 to 2 |
| Bharatiya Global | 82 | 1.25 to 1.75 |
| Inventure Growth | 117 | 4 to 4.50 |
| L & T Finance | 51 to 59 | 6 to 6.50 |
| L & T Finance (ASBA) | 51 to 59 | -- |
Daily News Roundup - July 26 2011
Coal India Ltd is seeking the government’s approval to acquire 30% stake in a coal asset in Indonesia. (BS)
Suzlon Energy has received an offer from German company ZF Friedrichshafen to buy its 26% in Belgian turbine gearbox manufacturer Hansen Transmissions. (BS)
Ranbaxy Laboratories has launched Letrozole tablets, used in the treatment of breast cancer, in the UK, Romania and France after the expiry of the patent held by Novartis. (ET)
Jet Airways is considering merging JetLite and Konnect into a single low-cost brand. (BS)
Eyes on RBI
The biggest problem in the world could have been solved when it was small. ~Witter Bynner.
Problems may be aplenty but thankfully world markets appear to have decoupled from what’s happening in the US. Over the past few trading sessions, we have seen non-US markets displaying commendable resilience in the face of the ongoing drama surrounding the debt deal. We may see continuation of that trend today as well.
Markets set for positive start; RBI action eyed
The opening on the Dalal Street is expected to be in the green zone tracking positive Asian cues. RBI’s monetary policy will remain in focus.
Headlines for the day:
Raja challenges PM on Unitech, Swan stake sale
Jet Airways plans to merge JetLite, Konnect
Credit growth likely to decelerate further
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