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Friday, April 27, 2012
Better trades for the day - Apr 27 2012
Global Cues: The European stocks closed mixed on Thursday (April 26, 2012), FTSE100 up by 0.52%, CAC40 down by 0.13% and DAX surged by 0.53%. The US stocks rose on Thursday. Dow Jones up by 0.87% and Nasdaq rose by 0.69%. The Asian shares are trading higher on Friday (April 27, 2012). SGX Nifty up by 3 points. Events for the day: Results: ICICI Bank, Axis Bank, JSPL, Siemens, Indiabulls Financial Services, Hexaware Technologies Stock in news: Aviation Ministry opposes service tax hike. Government may reject Coal India's Ltd ( CIL) min penalty clause in FSA. FII stakes in Kingfisher Airlines KFA up marginally during March quarter Rabobank sells 3.4% in Yes Bank for Rs453 crore. Cabinet allows raising private bank voting rights to 26%.
Grey Market Premiums - Tribovandas Bhimji Zaveri
Company Name
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Offer Price
(Rs.)
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Premium
(Rs.)
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Kostak
(Rs. 1 Lac
Application)
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Kostak
(Rs. 2 Lac
Application)
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Tribovandas Bhimji Zaveri
|
120 to 126
|
3 to 3.50
|
--
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--
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Samvardhana Motherson Fin.
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113 to 118
|
--
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--
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--
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Daily News Roundup - Apr 27 2012
MRF has started production at its new plant in Tiruchi (Tamil Nadu). The company has invested around Rs.9bn on the 200-acre plant, which will manufacture a full range of tyres, including truck tyres and radials.. (BL) Power generators who do not have power purchase agreements (PPA) with electricity distribution companies will not get Coal India supplies.(BL) ONGC said it is open to set up more urea and gas-based thermal power plants in the areas it has a presence in the hydrocarbon sector. Mahindra South Africa, an affiliate of Mahindra and Mahindra, will market SsangYong products here, the first country outside India, after M&M acquired a 70 % stake in the Korean car maker last year. BL)
Sensex struggles in dull trade...Nifty flat on F&O expiry
The F&O expiry session turned out to be quite tepid to say the least with the main Indian equity indices closing nearly unchanged. Today’s session was unusually low on volatility and lacked any specific direction right from start to end, with the NSE Nifty gyrating in a narrow trading band. The struggle for direction today came in the wake of Standard & Poor's move to lower the outlook on India's debt ratings to 'negative' from 'stable'. Indecisive Asian markets and renewed weakness in European markets added to the uncertainty. The BSE Sensex ended at 17,131, down 21 points or ~0.12% over the previous close. It had earlier touched a day’s low of 17,084 and a day’s high of 17,193. It opened at 17,191. The NSE Nifty settled at 5,189, down 13 points or 0.25% over the previous close. It touched a day’s low of 5,179 and day’s high of 5,215. Out of the 50 stocks in the Sensex notable losers were Gail India, Hero Motocorp, Hindalco, Tata Power, Bajaj Auto and Sterlite Industries. Among the major gainers were, Coal India, Jindal Steel, TCS, RIL and ITC.
Sell in May and go away!
In all things it is better to hope than to despair - Goethe. There’s despair on the street given that for many years, May to September has been more or less challenging for equities. We are staring at another boring opening after an unusually sedate F&O expiry. However, there is a silver lining in the dark clouds. Things might just perk up a wee bit amid reports that the Government could dilute the controversial GAAR to pacify agitating FIIs and breathe some life into the market. Another positive news is that monsoon is likely to be normal yet again. Also, the Cabinet has approved raising the cap on voting rights in private banks. The Nifty will see two new entrants today in Asian Paints and Bank of Baroda. They will replace R Power and RCOM. Important results for the day include ICICI Bank, Axis Bank, Jindal Steel, HCC, Hexaware and Siemens.
Market may open flat to slightly higher.
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 6 points at the opening bell. ICICI Bank unveils FY 2012 results today, 27 April 2012. Axis Bank, Jindal Steel & Power and Siemens also unveil quarterly results today, 27 April 2012. Banking stocks will be in focus as in a push to financial sector reforms, the Cabinet reportedly on Thursday cleared the much awaited Banking Law (Amendment) Bill. It approved a proposal to cap shareholders' voting rights in private banks at 26% irrespective of their total holding. To find common ground with the Opposition, the Cabinet diluted the provisions of an earlier legislation to increase entities' voting rights in proportion to their shareholding. Key benchmark indices registered small losses in a lacklustre trading session on Thursday, 26 April 2012 as traders rolled over positions in the derivatives segment from the near-month April 2012 series to May 2012 series. The BSE Sensex shed 20.62 points or 0.12% to 17,130.67, its lowest closing level since 23 April 2012.
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