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Tuesday, August 23, 2011
RIL reclaims title of India's most valued firm
Positive global cues helped Indian shares register gains for the second day in a row. The BSE Sensex jumped 156.77 points or 0.96%, off 50.74 points from the day's high and up 285.29 points from the day's low. World stocks rose, with sentiment boosted by Chinese data and expectations Federal Reserve Chairman Ben Bernanke will signal readiness later this week to support struggling US economy. The Sensex has jumped 356.80 points or 2.21% in two sessions from a 14-1/2-month low of 16,141.67 on 19 August 2011.
BSE Bulk Deals to Watch - Aug 23 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/8/2011 517356 ACI Infocom PROG DYE CHEM PRIVATE LIMITED B 778300 25.05
23/8/2011 517356 ACI Infocom DIVYA ALOK GUPTA S 778300 25.05
23/8/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 36103 799.05
NSE Bulk Deals to Watch - Aug 23 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-AUG-2011,AGCNET,AGC Networks Limited,INDIA OPPORTUNITIES GROWTH FUND LTD-PINEWOOD STRATEGY,BUY,587711,130.25,-
23-AUG-2011,AMRUTANJAN,Amrutajan Health Ltd,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,25349,799.30,-
23-AUG-2011,AMRUTANJAN,Amrutajan Health Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,36143,801.09,-
Markets extend gains; Sensex ends 157 points higher
Today's rally was led by positive global cues alongwith strong support from the technology stocks. The Sensex rose 157 points and the Nifty surged 50 points at the close
Major headlines
IT sector zooms as Nasscom retains export growth estimate
Coal India slips as labour union demand 100% hike in salary
RIL regains its status as India’s most-valued company
SKS Microfinance - what's up? and further views
Read through the AGM minutes of SKS Microfinance.
Here is my take on it.
All the resolutions seem normal
Vikram Akula has been retained the Chairman of the company. That should be good news for the company where rumors(?) have been floating that he is being asked to step down.
Since this fall in share price has been mostly based on the above reasons, see no reason for it to fall even further unless fundamentally its worse than what is being projected by the company.
I feel the stock should recover from hereon and should possibly reach earlier levels of around 500 odd.
I hold position in the stock and the above view may be biased.
Latest Grey Market Premiums - IPOs - NCDs
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Vaswani Ind. | 49 | Discount |
| Tree House of Education & Accessories | 135 | -1 to 1.50 |
| Brooks Lab. | 90 to 100 | 5 to 6 |
| SRS Ltd. | 58 to 65 | 4 to 4.50 |
| T. D. Power Systems | 256 to 261 |
|
| IIFL Bond | 1000 | 15 to 20 |
| Shriram City Union Bond | 1000 | 20 to 25 |
| Manappuram Finance | 1000 | 14 to 16 |
| Muthoot Finance | 1000 | 20 to 22 |
Markets expect a positive opening
The global cues look supportive today and may lift the Indian markets higher in the opening trade.
Headlines for the day:
IT department demands R2,114-crore tax from Satyam
DLF plans to cut debt by Rs3,000 crore
GVK to acquire Siemens' 14% stake in Bangalore international airport
Major corporate action
Events for the day
SRS IPO opens today
Results: Aqua Logistics, Supreme Holdings
Ex-date for final dividend of Tulip Telecom
Ex-date for dividend of BEML, Federal Bank
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Indian indices
The sentiment still remains fragile and the volatility in the markets will stay for a while. Market participants will continue to see what is happening in the global equities so as to get some direction. Bargain hunting could limit the downside.
The global cues look supportive today and may lift the Indian markets higher in the opening trade.
Daily trend of FII/MF investment in equities
The FIIs have sold Indian stocks worth a net of Rs1,281.10 crore on August 22, 2011. The domestic investors have sold Indian shares worth a net of Rs33 crore on August 17, 2011. The data is as per the SEBI website.
Global signals
The European stock markets ended higher Monday (August 22, 2011) in a rebound from last week's rout, with shares in Italian oil major Eni SpA among the top performers as Libya appeared on the verge of a leadership change.
The US stocks ended slightly higher on Monday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying.
The Asian markets were trading in the green zone on Tuesday (August 23, 2011). SGX Nifty was trading 26.5 points higher.
Commodity cues
The crude oil prices ended higher in volatile trading on Monday as gains on the Wall Street lifted sentiment toward oil.
No belief yet!
Drugs are not always necessary, but belief in recovery always is. - Angel Cordero.
Self belief and conviction appear to be in short supply – whether it’s the Government or Indian cricket team. The same also could be said of investors, some of whom have badly burnt their fingers in the recent collapse. But, we may see some stability today after the turmoil and extreme volatility of four straight weeks.
Daily News Roundup - Aug 23 2011
Dish TV is set to launch Conditional Access Module (CAM), a device that will enable consumers with set-top boxes of other DTH service providers to switch to Dish TV's feed of television channels. (ET)
Religare Finvest plans to increase its loan portfolio to Rs 140bn by the end of the current fiscal, betting big on the small and medium enterprises (SME) sector. (ET)
The downturn in global markets has taken a toll on Essar Oil's plans to raise US$1.5bn in foreign currency loans to finance its expansion plans and forced the company to look for options in a difficult environment. (ET)
Sensex spurts in broad rally...Heavyweights shine
On the auspicious day of Janmashtami, Lord Krishna's birthday, the bulls seemed to receive a major boost in the form of a strong trading session. The key Indian stock indices ended with smart gains at the end of a choppy session, starting off the week on a positive note. Impressive buying was seen in Oil & Gas, Power, Metals, Capital Goods and FMCG stocks. Even the Mid-Cap and the Small-Cap stocks witnessed smart buying.
SRS IPO Analysis
SRS, promoted by Dr. Anil Jindal, Sunil Jindal, Bishan Bansal, Raju Bansal, BTL Industries. and BTL Portfolio is a diversified company with a business portfolio comprising of cinema exhibition, food & beverages, retail and manufacturing & retailing of jewelry.
Cinema Exhibition
SRS Cinemas is the cinema exhibition brand under which the company operates a chain of cinemas spread across six cities. This includes 11 properties at strategic locations having 30 screens
and 7608 seats in three states.
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