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Wednesday, February 20, 2008
Tuesday, February 19, 2008
Post Session Commentary - Feb 19 2008
On Tuesday, BSE Sensex ended the day on a flat note with a gain of 27.61 points, or 0.15%, at 18,075.66, while the broad-based NSE Nifty closed at 5,280.80, marginally up 3.9 points, or 0.07%.
The 30-share benchmark index, Sensex, opened with a positive gap of 167.21 points at 18,215.26 mirroring good global cues in the early trade. The index was steady in the noon trades, but after touching a day`s high of 18,314.10, it lost all its strength, due to selling pressure at the higher levels.
After losing more than 200 points from the days high, it fell into the negative for a brief period and touched a day`s low of 18,018.48. However, just before the closing, it moved up in the positive to close on a flat note.
Midcap Index rose 43.85 points (0.57%) and Small Cap Index moved up 40.19 points (0.41%).
Global markets
Asian stocks closed positive on Tuesday (Feb. 19, 2008) as concern that banks will report more subprime-related losses eased down. Investors further gained confidence after higher metals prices boosted natural-resources companies.
Market statistics
Out of the total 2,808 stocks traded at the BSE, 1,513 advanced, 1,238 declined while 57 remained unchanged.
Among the sectoral indices, BSE Auto rose 1.62%, BSE Bankex rose 0.17%, BSE Power declined 1.13%, BSE Realty dipped 1.13% and Metal was down 0.23%.
Movers and Shakers
Gainers at the Sensex were Bajaj Auto, which surged 5.58% to close at Rs 2,322.60, Ranbaxy, gained 4.81% to Rs 415.40 and ACC rose 4.42% to finish at Rs 789.45. TCS, Grasim, M&M, HUL, Cipla, L&T and Ambuja Cement also rose.
Laggards at the BSE Sensex include REL, which declined 4.41% to end at Rs 1,622.15, Hindalco dipped 2.44% to Rs 179.60 and DLF shed 2.02% to close at Rs 842.45. ITC, HDFC, RComm, Tata Steel, Satyam, ONGC and Wipro also slipped.
Top Turnover
Reliance Capital topped the turnover chart with Rs 2,652.7 million followed by Reliance Power with Rs 2,597.9 million.
New Listing
OnMobile Global (OGL), the largest telecommunications value added services provider in India, settled at a premium of 17.76%, after listing at an issue price of Rs 440 at the NSE today.
Shares touched a high of Rs 579 and a low of Rs 411. It closed with a premium of Rs 78.15, or 17.76%, at Rs 518.15. Total volume of shares traded was 25,895,949 and the total turnover was Rs 13,663.48 million at the NSE.
NSE Bulk Deal Watch - Feb 19 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-FEB-2008,BLKASHYAP,B. L. Kashyap and Sons Li,MIREA ASSET INDIA DISCOVERY EQUITY INVESTMENT,BUY,105282,1630.00,-
19-FEB-2008,JKIL,J.Kumar Infraprojects Lim,PRASHANT JAYANTILAL PATEL,BUY,106519,120.98,-
19-FEB-2008,JKIL,J.Kumar Infraprojects Lim,TRANSGLOBAL SECURITIES LTD.,BUY,108272,118.48,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,539313,526.13,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,551920,528.02,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,B K SHAH AND CO,BUY,401752,523.93,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,DINESH MUNJAL,BUY,390360,531.43,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,FIDELITY INVESTMENT FUNDS ICVC FIDELITY SOUTH EAST ASIA FUND,BUY,600000,466.98,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,FIDELITY TRUSTEE COMPANY PRIVATE LIMITED,BUY,540000,517.95,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,KAKANI OMPRAKASH,BUY,346438,534.64,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,407977,541.69,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,PRASHANT JAYANTILAL PATEL,BUY,594564,529.65,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,SHAH HEMANG DINESH,BUY,835886,523.15,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,TRANSGLOBAL SECURITIES LTD.,BUY,337919,538.12,-
19-FEB-2008,RAMCOIND,Ramco Industries Ltd,ON LINE TRANSPORT CO. LTD.,BUY,26725,898.00,-
19-FEB-2008,SUNDARMFIN,Sundaram Finance Ltd.,DERIVE TRADING PVT LTD,BUY,150000,660.00,-
19-FEB-2008,TANTIACONS,Tantia Constructions Limi,PRISM IMPEX PVT LTD,BUY,123921,138.04,-
19-FEB-2008,BLKASHYAP,B. L. Kashyap and Sons Li,GOLDMAN SACHS INVESTMENT MAURITIUS 1,SELL,162838,1630.00,-
19-FEB-2008,JKIL,J.Kumar Infraprojects Lim,PRASHANT JAYANTILAL PATEL,SELL,106519,122.79,-
19-FEB-2008,JKIL,J.Kumar Infraprojects Lim,TRANSGLOBAL SECURITIES LTD.,SELL,105272,118.58,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,539313,526.33,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,536920,529.40,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,B K SHAH AND CO,SELL,386189,520.77,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,DINESH MUNJAL,SELL,390360,532.46,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,KAKANI OMPRAKASH,SELL,346438,535.05,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,402977,542.05,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,MORGAN STANLEY INV MGMT INC A/C MORGAN STANLEY INDIA IN FUND,SELL,350737,543.31,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,PRASHANT JAYANTILAL PATEL,SELL,594564,529.40,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,SHAH HEMANG DINESH,SELL,835886,523.97,-
19-FEB-2008,ONMOBILE,OnMobile Global Limited,TRANSGLOBAL SECURITIES LTD.,SELL,333819,535.42,-
19-FEB-2008,SMSPHARMA,SMS Pharmaceuticals Limit,CITI GROUP GLOBAL MARKETS MAURITIUS PVT LTD,SELL,100000,197.00,-
19-FEB-2008,SUNDARMFIN,Sundaram Finance Ltd.,RELIANCE CAPITAL ASSET MANAGEMENT LTD A/C. PMS,SELL,149939,660.00,-
19-FEB-2008,TANTIACONS,Tantia Constructions Limi,MARYADA BARTER PVT LTD,SELL,88703,138.00,-
19-FEB-2008,TANTIACONS,Tantia Constructions Limi,PRISM IMPEX PVT LTD,SELL,11341,148.49,-
BSE Bulk Deals to Watch - Feb 19 2008
| Scrip Code | Scrip Name | Client Name | Deal Type * | Quantity | Price ** | ||||
| 531190 | A V COTTEX I | EVERSIGHT TRADECOMM PVT LTD | B | 30000 | 15.00 | ||||
| 511589 | ALMONDZ CMS | RAKAM MONEY MATTERS PVT LTD | S | 200000 | 31.50 | ||||
| 531223 | ANJANI SYNTH | NATRAJ FINANCIAL AND SERVICES LTD | B | 101642 | 45.40 | ||||
| 531223 | ANJANI SYNTH | NATRAJ FINANCIAL AND SERVICES LTD | S | 103642 | 45.44 | ||||
| 516064 | AROW COAT PR | JASMEEN KAUR | B | 77076 | 26.83 | ||||
| 532719 | BL KASHYAP | MIRAE ASSET INDIA DISCOVERY EQUITY INVESTMENT | B | 105281 | 1630.00 | ||||
| 532719 | BL KASHYAP | GOLDMAN SACHS AND COMPANY | S | 162838 | 1630.00 | ||||
| 531682 | CAT TECHNOL | SARFARAZKHAN SARVARKHAN PATHAN | B | 287876 | 9.50 | ||||
| 500083 | CENTURY EXT | SHETH BROTHERS | S | 141686 | 6.11 | ||||
| 532941 | CORDS CABLE | PACE FINCAP PRIVATE LIMITED | B | 57640 | 147.41 | ||||
| 532941 | CORDS CABLE | PACE FINCAP PRIVATE LIMITED | S | 57640 | 148.16 | ||||
| 532271 | CYBERMAT INF | SARFARAZKHAN SARVARKHAN PATHAN | B | 435622 | 9.02 | ||||
| 532271 | CYBERMAT INF | SARFARAZKHAN SARVARKHAN PATHAN | S | 630763 | 9.01 | ||||
| 532903 | DHANUSTECH | POONAMDEVI ANILKUMAR AGARWAL | S | 100000 | 162.86 | ||||
| 508918 | GREYCELLS EN | PRIME SECURITIES LTD | B | 16000 | 215.06 | ||||
| 523062 | J J FINANCE | NIPPONZONE SECURITIES PVT LTD | B | 27000 | 10.53 | ||||
| 523062 | J J FINANCE | NANOJ KUMAR AGARWAL | S | 27000 | 10.53 | ||||
| 531633 | LINCOLN PHAR | ISHAN MARKETING PVT LTD | S | 300000 | 10.17 | ||||
| 514328 | NACHMO KNITE | AMARAKADAM INVESTMENTS PVT LTD | B | 259183 | 2.50 | ||||
| 514328 | NACHMO KNITE | MANSAROVAR FINCAP PVT LTD | S | 259183 | 2.50 | ||||
| 531834 | NATURA HUE C | SHARMISHTA MAHESHBHAI SHAH | B | 50500 | 20.00 | ||||
| 532944 | ONMOBILE | B K SHAH AND CO | B | 311979 | 529.93 | ||||
| 532944 | ONMOBILE | H.J.SECURITIES PVT.LTD. | B | 386867 | 523.73 | ||||
| 532944 | ONMOBILE | FIDELITY INVESTMENTS MANAGEMENT HONG KONG LTD | B | 544237 | 504.67 | ||||
| 532944 | ONMOBILE | B K SHAH AND CO | S | 311979 | 528.07 | ||||
| 532944 | ONMOBILE | H.J.SECURITIES PVT.LTD. | S | 386867 | 524.36 | ||||
| 508941 | PANASON CAR | RAJIV ARORA | B | 27880 | 142.48 | ||||
| 508941 | PANASON CAR | NAIMISH J MEHTA HUF | B | 26225 | 142.60 | ||||
| 508941 | PANASON CAR | RAJIV ARORA | S | 25547 | 142.66 | ||||
| 508941 | PANASON CAR | NAIMISH J MEHTA HUF | S | 26215 | 142.50 | ||||
| 531219 | POONAM PHARM | SWARN GANGA TRADING PVT. LTD. | B | 37000 | 3.47 | ||||
| 532369 | RAMCO INDUSR | P.R.RAMASUBRAHMANEYARAJHA | B | 30975 | 898.00 | ||||
| 526753 | ROSELABS LTD | MITA D.SHAH | B | 30000 | 4.36 | ||||
| 526753 | ROSELABS LTD | H. R. JAVERI | S | 56000 | 4.35 | ||||
| 590071 | SUNDARAM FIN | DERIVE TRADING PRIVATE LIMITED | B | 150000 | 660.00 | ||||
| 590071 | SUNDARAM FIN | RELIANCE CAPITAL ASSET MANAGEMENT LTD ACCOUNT PMS | S | 150061 | 660.00 | ||||
| 506142 | VYAPAR INDS | V J PATEL INVESTMENT | B | 35824 | 220.19 | ||||
| 506142 | VYAPAR INDS | V J PATEL INVESTMENT | S | 35824 | 217.65 | ||||
| 512167 | YASHRAJ SECR | DIAMANT INVESTMENT AND FINANCE | S | 100100 | 16.47 | ||||
Market ends slightly higher
After holding positive ground for most part of the day, the market succumbed to selling pressure in late trade erasing almost all gains. Subdued trend in European markets, which opened after Indian market, led to weakness later in the day.
The market witnessed a bout of volatility in the second half of the day. Strong response to the IPO of Rural Electrification Corporation, which opened for bidding today, had aided the rally on the bourses in early afternoon trade. Asian markets which opened before Indian market, were firm.
The market breadth was strong. 16 shares of 30-member Sensex pack advanced. Bajaj Auto surged 6% on fresh buying.
The IPO of Rural Electrification Corporation (REC) was subscribed 2.13 times by 16:00 IST. The IPO received bids for 33.32 crore shares as compared to 15.61 crore shares on offer. The price band for the IPO is Rs 90 to Rs 105.
The 30-share BSE Sensex rose 27.61 points or 0.15% at 18,075.66. Sensex had surged 266.05 points to hit a high of 18,314.10 in early trade. It lost 29.57 points at day’s low of 18,018.48 hit in late trade.
At current 18,075.66, Sensex trades at a PE multiple of 17.21 to 18.07, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
The broader based S&P CNX Nifty gained 3.90 points or 0.07% at 5,280.80. Nifty February 2008 futures were at 5250.25, a discount of 30.55 points as compared to spot closing
The market breadth was strong: On BSE 1,519 shares advanced as compared to 1228 that declined. 61 shares remained unchanged.
The BSE Mid-Cap index was up 0.57% to 7,685.33 and the BSE Small-Cap index rose 0.41% to 9,795.54. Both these indices outperformed the Sensex.
The total turnover amounted to Rs 5114 crore on BSE as compared to Rs 4,965.20 crore on Monday, 18 February 2008.
Turnover in NSE’s futures & options segment amounted to Rs 36397.03 crore as compared to Rs 32416.67 crore on Monday, 18 February 2008.
Sectoral indices on BSE displayed mixed trend. The the BSE Consumer Durables index (up 2.85% to 4,842.64), the BSE Auto (up 1.62% at 4,866.49), the BSE FMCG index (up 0.49% at 2,269.29), the BSE Health Care index (up 1.33% at 3,727.14), the BSE Bankex (up 0.17% at 10,963.76), the BSE Capital Goods index (up 0.43% at 16,392.27), the BSE IT (up 0.54% to 3,849.77), the BSE TecK index (up 0.21% to 3,339.65), outperformed the Sensex.
The BSE PSU index (down 0.43% to 8,535.79), the BSE Metal index (down 0.23% to 16,209.95), the BSE Oil & Gas index (down 0.38% to 11,130.88), the BSE Power (down 1.13% to 3,710.30), the BSE Realty index (down 1.33% at 10,070.74), underperformed the Sensex.
Bajaj Auto, the country’s second largest bike manufacturer surged 5.96% to Rs 2331 on 1.22 lakh shares. It was the top gainer from Sensex pack. The stock was in the red till afternoon trade. Its low for the day is at Rs 2185. Bajaj Auto today said the Bombay High Court has sanctioned a scheme of arrangement between the company, Bajaj Holdings & Investment and Bajaj Finserv and their respective shareholders and creditors.
India’s second largest cement manufacturer in terms of sales, ACC gained 4.82% to Rs 792.50, off sharply from day’s low of Rs 752.25.
Other cement shares, Ambuja Cement (up 0.83% to Rs 116), UltraTech Cement Company (up 0.20% to Rs 892), India Cement (up 1.36% to Rs 209.10) and Grasim (up 2.62% to Rs 2860), also logged gains
India’s largest private sector engineering company in terms of outstanding order book position, Larsen & Toubro rose 1.03% to Rs 3546.50. The company said on Monday, 18 February 2008, it has bagged an order worth Rs 1250 crore from Oil & Natural Gas Corporation.
India’s largest public sector engineering company in terms of net profit, Bharat Heavy Electricals rose 0.26% to Rs 2222. The company said during trading hours on Monday, 18 February 2008, it had bagged an order worth Rs 650 crore from General Electricity Company, Libya for setting up a 300 megatwatt gas turbine based power plant
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) slipped from day’s high of Rs 2616.80. It settled 0.78% lower to Rs 2532. 5.07 lakh shares changed hands. As per reports, the company is in advanced talks with the New York-based Vornado Realty Trust, one of the world’s top five real estate asset managers, to float a $1-billion plus fund.
ITC (down 2.29% to Rs 204.80) and DLF (down 2.77% to Rs 836), edged lower from the Sensex pack.
Pharma shares gained on fresh buying. Ranbaxy Laboratories (up 3.95% to Rs 412), Cipla (up 1.70% to Rs 187.95), and Lupin (up 3.63% to Rs 537.55), rose.
Banking shares posted marginal gains. HDFC Bank (up 0.54% to Rs 1565.35), State Bank of India (up 0.45% to Rs 2265), and ICICI Bank (up 0.41% to Rs 1213), rose
IT pivotals were mixed. Infosys Technologies (up 1.28% to Rs 1573), and TCS (up 3.23% to Rs 879.50), rose. Wipro (down 0.49% to Rs 412.50) and Satyam Computers (down 0.96% to Rs 421.90), declined
Mid-cap software shares outperformed their large-cap peers. NIIT Technologies (up 6.67% to Rs 128), Rolta India (up 3.33% to Rs 296.10), and KPIT Cummins Infosystems (up 4.88% to Rs 86), surged.
Shares of Anil Dhirubhai Ambani group (ADAG) slipped. Reliance Energy, the country’s largest private sector utility company in terms of sales, slipped 4.71% to Rs 1617. It was the top loser from Sensex pack.
Other losers from ADAG group were, Reliance Communications (down 2.03% to Rs 600.25), Reliance Natural Resources (down 2.39% to Rs 139.60), and Adlabs Films (down 3.63% to Rs 910), slipped.
Reliance Power was down 0.46% to Rs 411.75 on volumes of 62.50 lakh shares. The stock had surged 7.53% to Rs 413.65 on Monday, 18 February 2008, after the company said on Sunday, 17 February 2008, its board will meet on Sunday, 24 February 2008, to consider issue of bonus shares.The bonus shares will be issued to non-promoter shareholders to compensate the losses suffered by them when the company was listed last week. The stock has been consistently trading at a discount to IPO price of Rs 450, since its listing on 11 February 2008.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation slipped 0.75% to Rs 1013.10 after hitting a high of Rs 1054 in early trade. As per reports, the company has been registered with Iraqi authorities for tenders to develop the world's third-largest oil reserves.
India’s largest real estate developer in terms of market capitalisation DLF lost 2.77% to Rs 836. As per reports, the company has entered into a joint venutre with Italian designer Giorgio Armani in the retailing sector.
OnMobile Global settled at Rs 521.90 on BSE, a premium of 18.6% over IPO price of Rs 440. The stock debuted at Rs 440, at the same price at which the IPO was priced. The stock hit a low of Rs 421 and high of Rs 579.90. On BSE, 1.97 crore shares changed hands in the counter.
OnMobile Global topped the turnover chart on BSE with a turnover of Rs 1042.25 crore followed by Reliance Natural Resources (Rs 298 crore), Reliance Capital (Rs 265.30 crore), Reliance Power (Rs 259.80 crore) and Reliance Energy (Rs 181.75 crore) in that order.
Reliance Natural Resources led the volume chart with 2.08 crore shares followed by OnMobile Global (1.97 crore shares), Ispat Industries (1.61 crore shares), Reliance Petroleum (1.02 crore shares) and Nagarjuna Fertilisers (87 lakh shares), in that order.
Among the side counters, Shoppers Stop (up 17.90% to Rs 467), Astra Microwave (up 17.90% to Rs 95.65), and Disa India (up 10.61% to Rs 2020), surged.
Cords Cable (down 7.80% to Rs 140.70), Jaiprakash Associates (down 7% to Rs 264.25), and Dish TV (down 5.99% to Rs 66.70), slipped
Fertiliser stocks rose after the government announced the issue of 7.95% Fertilizer Companies’ Government of India Special Bonds 2026 at par worth Rs 3,610 crore in the second and final tranche.
Tata Chemicals (up 4.85% to Rs 305), Nagarjuna Chemicals & Fertilisers (up 0.57% to Rs 53.05), National Fertilisers (up 5% to Rs 67.10), and Gujarat State Fertilisers & Chemicals (up 3.10% to Rs 247) edged higher. The first tranche came in December 2007 for bonds worth Rs 3,890 crore.
NIIT slipped 2.33% to Rs 111.05. The company said it has signed a memorandum of understanding with the provincial government of Wuxi, China to set up IT training centers and offer training programmes.
Financial Technologies India was down 0.46% to Rs 2182. The company said its unit Multi Commodity Exchange of India has filed draft red herring prospectus to raise Rs 500 crore via an initial public offering. Financial Technologies India currently holds about 32% in MCX.
Polaris Software Lab rose 6.75% to Rs 90.90. The company announced today that it has entered into a strategic partnership with City Networks. City Networks is a leader in the development and implementation of software and services for the treasury, securities and derivatives markets.
3i Infotech surged 6.57% to Rs 125.70 after the company said it has signed a non-binding memorandum of understanding with Yucheng Technologies, China to set up a 51:49 joint venture.
United Phosphorus slipped 2.45% to Rs 322.90. The company said on Monday, 18 February 2008, it has acquired Colombian marketing firm Evofarms group. Evofarms has several product registrations in Colombia and has a distribution network covering over 100 customers.
Everest Kanto Cylinder fell 0.43% to Rs 299.15. The company said its board has granted in-principle approval for acquiring the assets of a US-based manufacturing firm for $70 million
The Union Buget 2008-09 will be the key event to watch out for in the near term. The Budget would be presented by the finance ministry at the fag end of the month.
European markets fell today, 19 February 2008. Key benchmark indices in United Kingdom (down 0.21% to 5,934.10), France (down 0.61% to 4,832.23), and Germany (down 0.59% to 6,926.55) declined.
Asian markets settled with gains. Hong Kong's Hang Seng (up 1.53% at 24,123.17), China’s Shanghai Composite index (up 2.10% to 4,664.25), Japan's Nikkei (up 0.90% at 13,757.91), Taiwan's Taiwan Weighted index (up 1.69% at 8,024.22), South Korea's Seoul Composite index (up 1.45% at 1,720.91) and Singapore's Straits Times index (up 0.74% at 3,106.13) edged higher.
The US market was closed on Monday, 18 February 2008, for the Presidents' Day holiday.
Crude oil slipped today, 19 February 2008, as the market grappled with worries over an economic slowdown in the United States and supply concerns from Venezuela and Nigeria. U.S. light crude for March delivery was down 16 cents at $95.95 a barrel
Market Close: Downswing after losing gains..
Indices followed its counterparts the Asian markets as they open firm and and lost bit of gains but ended in green. But, Indian markets opened firm up by 200 points and continued to trade ranged. Sensex lost its early gains as profit booking was witnessed at higher levels. Europe opened in red which also impacted the market. Ther was new listing by OnMobile Global which listed with modested gains at the start but had decent acceptance as it ended up by 19% gains. Banking, Auto , IT sector were among gainers while Power, Oil & gas Metals and Realty showed weakness. Bajaj Auto rallied 5% ahead of its demerger news.
Sensex ended up by 28 points at 18075.66. It was helped up by gains in Bajaj Auto (2322.6001,+6 percent), Ranbaxy (415.4,+5 percent), ACC (789.45,+4 percent), TCS (874.85,+3 percent) and Grasim (2861.6499,+3 percent). Restricting the gains were Rel Energy (1622.15,-4 percent), Hindalco (179.6,-2 percent), ITC (205.4,-2 percent), HDFC (2859.5,-1 percent) and RCVL (605.75,-1 percent).
Paramount Communication is one of the leading manufacturers of Power Cables, Railway Cables and Telecom Cables. Paramount has two manufacturing units located at Dharuhera, Haryana and Khushkhera, Rajasthan. Paramount drives 85% of revenues from Power and Railway cable, 10% from Jelly Filled Telephone cables and rest 5% from Optical Fibre cable. Paramount is expanding the capacity in three phases with an investment of Rs 120 cr. Paramount acquired, AEI cables in UK one of the oldest cable manufacturing companies with a strong reputation. Paramount enjoys the acquisition synergy in terms of marketing network and good distribution in UK and helps to enter other countries also. The valuations are attractive compared to its peers. We are positive on the business with long term view. Do read our note to know more. The stock rallied and got locked up in uppar circuit
Adhunik Metals is into manufacturing of sponge iron, TMT Bars, special grade high carbon and low carbon steel billets along with different grades of alloy steel billets. AML has focused itself in Eastern India because of easy access to high quality raw materials. With an integrated business model from Iron ore to finished products, it caters to the requirement of major Automotive, Construction and Engineering Industry by manufacturing value added products. Majority of revenues are from OEMs that contribute close to 35% of the total revenues. This is followed by automobile (30%), steel (25%) and railways (10%). Its manufacturing facility is at Rourkela, Orrisa. Expansion plans are getting completed in next quarter and from next quarter Adhunik will have 4.5-lakh tonne capacity available from 2.5 currently. We believe primarily growth will be driven by higher realization as a result of rolled products ( rolled from outside rolling companies as its own rolling mill is likely to come in FY08). One can hold this stock looking at longer term perspective. This also got locked up in circuit.
Technically Speaking : Markets closed flat marginally in green. Sensex made an intra day high of 18314 and low of 18018. The breadth was in favor of Advances as there were 1519 Advances against 1228 Declines. Market turnover improving a bit at Rs 5114crs. Sensex support lies at 17800. Resistance lies at 18018.
Post Market Commentary - Feb 19 2008
The market closed with marginal gains after a strong start to the session. Taking the strong cues from the Asian markets, the domestic market opened with a bang and created a rally across the sectoral indices scrips. The market tumbled after the mid session to pare all its initial gains as the profit booking across the sectoral indices prevailed and finally managed to close with little gains. The Small Cap and Mid Cap scrips seemed to attract the investor''s confidence as most buying was seen from these baskets. The BSE Sensex closed higher by 27.61 points at 18,075.66 and NSE Nifty closed up by 3.9 points at 5,280.80. The BSE Mid Cap and Small Cap closed higher by 43.85 points and 40.19 points at 7,685.33 and 9,795.54 respectively.
The IPO of Rural Electrification Corporation (REC) was subscribed 1.63 times by the end of the day. The IPO received bids for 25.46 crore shares as compared to 15.61 crore shares on offer.
BSE Metal index closed down by 37.25 points at 16,209.95 as Hindalco Industries (2.44%), Ispat Industries (1.85%), Sterlite Industries (1.76%), Tata Steel (1.05%) closed in red.
BSE Bankex index closed higher by 18.91 points at 10,963.76. Gainers are ICICI Bank (0.80%), HDFC Bank (0.73%), Bank of India (0.54%), SBI (0.39%), PNB (0.35%) and Union Bank (0.25%).
BSE Realty index fell by 136.21 points to close at 10,070.74. Major losers are Purvankara (4.29%), Mahindra Life (2.30%), Omaxe Ltd. (2.03%), India Bull Real (2%).
BSE CG closed higher by 69.62 points at 16,392.27 as Havell India (3.88%), BEML (3.61%), AIA Eng (3.01%), Crompton Greaves (2.35%), L&T (1.26%), closed higher.
BSE Oil & Gas index fell by 42.03 points to close at 11,130.88. Losers are BPCL (3.25%), GAIL India (2.66%), Cairn India (2.42%), RNRL (1.99%), IOCL (0.75%) and ONGC (0.68%).
BSE Consumer Durables index closed higher by 134.08 points at 4,842.64. Gainers are Titan Inds (5.46%), Gitanjali (3.23%), Blue Star (2.71%), Lloyd Ele (2.20%) and Videocon Ind (1.62%).
Pre Market Watch - Feb 19 2008
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Category : Market Commentary
Headline : Pre Session Market
Date : 19 Feb 2008 09:29 AM
The Indian Market is likely to have a positive opening due to favoring cues from the Asian markets. On Monday, the market closed on a negative note as the profit booking across the counters prevailed. The market opened with hand some gains tracking the firm cues from the Asian markets but all of a sudden lost the momentum and fell to pare all its initial gains. The market from there on kept on hovering in the negative territory throughout the trading session. Reliance Power registered the highest turnover from the BSE as the company announced a bonus issue of shares. He company''s board will be meeting on February 24 to consider the ratio on issuing bonus shares. However, the Small Caps and Mid Caps remained in the limelight as most buying was seen from these baskets. From the sectoral front, the Realty index faced heavy selling pressures across the counters. The BSE Sensex closed lower by 67.20 points at 18,048.05 and NSE Nifty slipped by 26 points to close at 5,276.90. We expect that the market may gain some ground during the trading session.
On Monday, the US market was closed for the celebration of President''s day.
Today, the major stock markets in Asia are trading strong. Hang Seng is trading higher by 382.65 points at 24,141.90 along with Japan''s Nikkei trading up by 75.45 points at 13,710.85 and Taiwan Weighted trading at 7,978.28 up by 87.38 points.
The FIIs on Monday stood as net buyer both in equity as well as in debt. The gross equity purchased was Rs3,898 Crore and the gross debt purchased was Rs368.70 Crore while the gross equity sold stood at Rs2,750.50 Crore and gross debt sold stood at Rs0.30 Crore. Therefore, the net investment of equity reported was Rs1,147.50 Crore and net debt was Rs368.40 Crore.
Today, Nifty has support at 5,187 and resistance at 5,362 and BSE Sensex has support at 17,736 and resistance at 18,479.
GSS America Infotech, Rural Electrification, IRB Infrastructure, OnMobile Global
Rural Electrification 90 to 105 16 to 20
GSS America InfoTech 400 to 440 Discount
On Mobile Global 440 10 to 15 (Listing Today!)
Bang Overseas 207 10 to 13
Shri Ram EPC 300 Discount
IRB Infra 185 12 to 15
Manjushree Extrusion 45 5 to 7
Tulsi Extrusions 85 10 to 12
V. Guard Ind. 80 to 85 7 to 10
Market may gain on firm Asian equities
PRE-SESSION
Market may gain on firm Asian equities
The market may advance today tracking firm Asian equities. The Union will be the key event to watch out for in the near term. The Budget 2008-09 would be presented by the finance ministry at the fag end of the month.
Asian markets were trading higher today, 19 February 2008. Hong Kong's Hang Seng (up 1.61% at 24,141.90), Japan's Nikkei (up 0.55% at 13,710.85), Taiwan's Taiwan Weighted index (up 1.11% at 7,978.28), South Korea's Seoul Composite index (up 1.18% at 1,716.34) and Singapore's Straits Times index (up 0.56% at 3,100.68) edged higher.
The US markets were closed on Monday, 18 February 2008, for the Presidents' Day holiday.
Back home, the 30-share BSE Sensex slipped 67.20 points or 0.37% at 18,048.05 in volatile trade. The broader based S&P CNX Nifty was down 26 points or 0.49% at 5,276.90 on that day.
At current 18,048.05, Sensex trades at a PE multiple of 17.18 to 18.04, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
As per provisional data, foreign institutional investors (FIIs) sold shares worth Rs 342.08 crore on Monday, 18 February 2008. Domestic institutional investors (DIIs) were net sellers of shares worth Rs 134.16 crore on that day.
FIIs were net buyers to the tune of Rs 90.15 crore in the futures & options segment on Monday, 18 February 2008. They were net buyers of index futures to the tune of Rs 89.45 crore and sold index options worth Rs 21.38 crore. They were net buyers of stock futures to the tune of Rs 6.01 crore and bought stock options worth Rs 16.07 crore.
Crude oil slipped today, 19 February 2008, as the market grappled with worries over an economic slowdown in the United States and supply concerns from Venezuela and Nigeria. U.S. light crude for March delivery was down 16 cents at $95.95 a barrel
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