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Friday, October 14, 2011
Sensex ends 199 points higher as heavyweights support
The Indian markets showed strength in late trade, with the Sensex closing 199 points higher and the Nifty rising by 54 points
Major headlines
September inflation at 9.72% versus 9.78% in August
Kingfisher Airlines drops as HPCL stops jet fuel sales
Century Textiles rises on buzz of demerger of cement business
SpiceJet gains on share allotment to Kalanidhi Maran
Cable service providers rise for 2nd day
CRISIL board to consider buyback
BSE Bulk Deals to Watch - Oct 14 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
14/10/2011 532853 Asahi Songwon VANAJA SUNDAR IYER B 75000 83.25
14/10/2011 532853 Asahi Songwon PALANI ANDAVAR HOLDINGS PRIVATE LIMITED S 75000 83.25
14/10/2011 531568 Ashutosh Paper KPM INFOTECH PRIVATE LIMITED B 92000 172.40
14/10/2011 524606 Beryl Drugs AMRITLAL HASTIMAL RAJAWAT B 35000 18.25
NSE Bulk Deals to Watch - Oct 14 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
14-OCT-2011,INDOWIND,Indowind Energy Limited,DAVE CHETAN L.,BUY,834799,10.75,-
14-OCT-2011,NUTEK,Nu Tek India Limited,DAVE CHETAN L.,BUY,2121476,2.74,-
14-OCT-2011,NUTEK,Nu Tek India Limited,OVERALL FINANCIAL CONSULTANTS PRIVATE LIMITED,BUY,1655114,2.54,-
14-OCT-2011,NUTEK,Nu Tek India Limited,SHREE BHUVANAKARAM TRADINVEST PRIVATE LIMITED,BUY,1290844,2.81,-
Tijaria Polypipes tumbles on debut
Settles at Rs 18.10 on BSE
Tijaria Polypipes settled at Rs 18.10 on BSE, a 69.83% discount to initial public offer price of Rs 60. The stock debuted at Rs 62 on the BSE, a 3.33% premium over initial public offer price of Rs 60. The stock hit a high of Rs 67.80 and a low of Rs 16.05.
On BSE, 4.74 crore shares were traded in the counter
The company has an equity capital of Rs 23.63 crore. Face value per share is Rs 10.
The company reported 2.5% rise in net profit to Rs 6.9 crore on 7.4% growth in total income to Rs 119.29 crore in the year ended March 2011 over the year ended March 2010.
Tijaria Polypipes manufactures high grade HDPE, MDPE, LDPE, LLDPE, PVC and PPR pipes under the registered brand names of Tijaria and Vikas.
Second quarter results to dictate near-term trend
Indian stocks will continue to take cues from developments in Europe which has been grappling with debt crisis. Stock-specific activity may dominate trade in the near-term as earnings trickle in. Investors will closely watch the management commentary at the time of announcement of Q2 September 2011 results, which will provide cues on futures earnings outlook. The Q2 results season has started on a positive note, with good results from IT bellwether Infosys, which has also revised upwards its full year earnings guidance in both dollar and rupee terms.
Infy Q2 results cheer market; Sensex vaults 5.2%
The market gave thumbs up to good Q2 results from IT bellwether Infosys, which also raised its full year earnings guidance on Wednesday, 12 October 2011. Data showing sustained buying by foreign funds recently underpinned sentiment. The market rose in three out of five trading sessions during the week, with the barometer index BSE Sensex settling above the psychological 17,000 mark and the S&P CNX Nifty regaining the psychological the 5,000 level.
Sensex settles above 17,000 for the first time in over 3 weeks
Key benchmark indices surged to their highest levels in more than 3 weeks as firm European shares, higher US index futures and data showing sustained buying by foreign funds recently boosted sentiment. The barometer index BSE Sensex regained the psychological 17,000 mark. The BSE Sensex jumped 198.77 points or 1.18%, off close to 20 points from the day's high and up close to 255 points from the day's low. The market breadth was positive.
The Sensex has risen 620.93 points or 3.82% in this month so far. The index has slumped 3,426.40 points or 16.7% in calendar 2011. From a 52-week high of 21,108.64 on 5 November 2010, the Sensex has lost 4,025.95 points or 19.07%. From a 52-week low of 15,745.43 on 4 October 2011, the Sensex has risen 1,337.26 points or 8.49%.
Daily News Roundup - Oct 14 2011
As a "temporary arrangement" to meet the supply-shortfall to the power sector, Coal India Ltd will divert 4 mn tonnes (mt) of monthly quota for e-auction to generation utilities in October. (BL)
Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration to manufacture and market Gabapentin tablets. (BL)
Hyundai Motors launched a small car, the Eon, costing between Rs0.269mn and Rs0.371mn (ex-showroom Delhi). This is Hyundai's first foray into the lowest end of the auto market.(BL)
Learning to cope!
We learn something every day, and lots of times it's that what we learned the day before was wrong. - Bill Vaughan.
Investors are a harried lot. Should they worry about the crisis in Euro or pay attention to the coal crisis in our country? India is facing acute shortage of coal to fire its power plants. The Telangana stir has only added to the power woes. The bad news on coal supply comes just ahead of the festival of light, and could add to the concerns about economic slowdown.
Talking of economics, markets will have to contend with September inflation numbers. The RBI governor and his deputy have indicated that they may persist with the hawkish stance till inflation cools down.
Red metal drops again
Prices drop in tandem with other commodities
Copper prices at Comex ended lower on Thursday, 13 October 2011. Red metal prices dropped in tandem with other commodities following a rising dollar and not-so-much exciting set of economic data.
Copper for December delivery ended lower by 9 cents (2.6%) at $3.31 a pound at Comex on Thursday. In the third quarter, copper tumbled 26%, the most since 2008. The metal touched a 14-month low of $2.994 on 3 October, 2011.
Precious metals take a step back
Rising dollar and profit booking push back prices
Precious metals ended lower on Thursday, 13 October 2011 at Comex. Prices turned pale as traders resorted to profit booking following previous sessions' gains. A rising dollar also hammered prices. Better than expected economic data at Wall Street also took some shine away from precious metals. A day earlier, hopes for a plan to recapitalize European banks and an expanded European bailout fund led to gains in gold and other metals.
Market may open lower on weak Asian stocks; Inflation data eyed
The market may open lower tracking weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 6 points at the opening bell.
Data on wholesale price index for September 2011 due today, 14 October 2011 could provide cues on the Reserve Bank of India's likely monetary policy stance at the half-yearly review of the monetary policy on 25 October 2011. A Capital Market poll of economists expects 9.7% inflation for September 2011, compared with a reading of 9.78% for August 2011. Five out of nine economists polled by Capital Market expect a 25 basis points hike in repo rate from the Reserve Bank of India at its half-yearly review of the monetary policy on 25 October 2011. The rest four expect a status quo on rates.
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