RPL - Refinery - Pictures
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Friday, February 22, 2008
Market may slide on weak global cues
The market may decline on weak global cues. The near term trend may be cautious, with all eyes being on the Union Budget 2008, to be presented by the Finance Minster P Chidambaram on Friday, 29 February 2008.
As per reports, railway minister Lalu Prasad in his railway budget to be presented by fag end of February 2008, is likely to reduce both passenger fares and freight rates, riding a strong revenue growth and reduced operational costs. Rail fares are likely to be cut by 3% to 5% while freight rates for petroleum, steel and iron ore may come down by 4% to 5% due to reclassification of goods.
Meanwhile, annual inflation data, based on the wholesale price index, for the week ended 9 February 2008 is due today, 22 February 2008. India's wholesale price index rose 4.07% in the 12 months to 2 February 2008, marginally lower than the previous week ended 22 January 2008 rise of 4.11%.
Asian markets were trading weak today, 22 February 2008. Hong Kong's Hang Seng (down 1.93% at 23,166.73), Japan's Nikkei (down 1.93% at 13,423.94), Taiwan's Taiwan Weighted index (down 0.40% at 8,053.27), Singapore's Straits Times index (down 0.92% at 3,026.71), South Korea's Seoul Composite index (down 1.58% at 1,677.46) and China’s Shanghai Composite index (down 3.22% to 4,381.41) edged lower.
On Thursday, 21 February 2008, US markets declined after opening higher after poor economic data re-ignited the fears of economic slowdown in the US. The Dow Jones industrial average slipped 142.96 points, or 1.15%, to 12,284.30. The Standard & Poor's 500 index dropped 17.50 points, or 1.29%, to 1,342.53, while the Nasdaq composite index plunged 27.32 points, or 1.17%, to 2,299.78.
Back home, the 30-share BSE Sensex rose 117.08 points or 0.66% at 17,734.68 on Thursday, 21 February 2008. The broader based S&P CNX Nifty gained 37.35 points or 0.72% at 5,191.80 on that day.
At current 17,734.68, Sensex trades at a PE multiple of 16.90 to 17.73, based on projected FY 2009 EPS of Rs 1000-to-Rs 1050 for 30 Sensex companies.
As per provisional data, foreign institutional investors (FIIs) purchased shares worth Rs 209.43 crore Thursday, 21 February 2008. Domestic institutional investors (DIIs) were net sellers of shares worth Rs 140.68 crore on that day.
FIIs were net buyers to the tune of Rs 375.78 crore in the futures & options segment on Thursday, 21 February 2008. FIIs were net buyers of index futures to the tune of Rs 72.22 crore and bought index options worth Rs 163.18 crore. They were net buyers of stock futures to the tune of Rs 134.46 crore and sold stock options worth Rs 5.92 crore.
Meanwhile, the Centre on Thursday, 21 February 2008, approved a fresh Rs 500 crore assistance to help exporters make up for the loss in orders due to strengthening of the rupee. With the latest announcement, government's bailout package has crossed the Rs 5,700 crore mark.
Crude oil slipped today, 22 Friday 2008 as rising U.S. crude and gasoline stockpiles added to evidence of slowing demand in the world's largest consumer. The US crude futures for April delivery eased 39 cents to $97.84 a barrel.
Grey Market - Rural Electrification, V-Guard
Rural Electrification 90 to 105 18 to 20
GSS America InfoTech 400 to 440 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 12 to 15
Income Tax Slabs as of now..
Income tax slabs for the year is as follows :
I. The basic exemption limit for persons is proposed to be increased from Rs. 1,00,000/- to Rs. 1,10,000/-. In such cases, the rates of income-tax on total income shall be as follows-
Upto Rs. 1,10,000/- Nil.
Rs. 1,10,001/- to Rs. 1,50,000/- 10 %.
Rs. 1,50,001/- to Rs. 2,50,000/- 20 %.
Above Rs. 2,50,000/- 30 %.
II. In the case of every individual, being a woman resident in India, and below the age of sixty-five years at any time during the previous year, the exemption limit is proposed to be raised from Rs. 1,35,000/- to Rs. 1,45,000/-. The rates of income-tax on total income in such cases shall be as follows-
Upto Rs. 1,45,000/- Nil.
Rs. 1,45,001/- to Rs. 1,50,000/- 10 %
Rs. 1,50,001/- to Rs. 2,50,000/- 20 %
Above Rs. 2,50,000/- 30 %
III. In the case of every individual, being a resident in India, who is of the age of sixty-five years or more at any time during the previous year, the exemption limit is proposed to be raised from Rs. 1,85,000/- to Rs. 1,95,000/-. The rates of income-tax on total income in such cases shall be as follows-
Upto Rs. 1,95,000/- Nil.
Rs. 1,95,001/- to Rs. 2,50,000/- 20%
Above Rs. 2,50,000/- 30%
Trading Calls - Feb 22 2008
Nifty (5192) Supp 5103 Res 5250
Buy Tata Steel (806) SL 799 Target 820, 825
Buy DLF (835) SL 829
Target 848, 852
Sell CESC (505) SL 510
Target 495, 492
Sell BILT (143) SL 147
Target 133, 129
Sell MTNL (122) SL 125
Target 113, 110
What you doing this weekend!
The only reason why we ask other people how their weekend was is so we can tell them about our own weekend.
We would have loved to say, Thank God, its Friday and relax for the weekend. But, speculation on Reliance Power’s bonus ratio, which will be decided on Sunday will hold center-stage. Buzz is that some short covering could take place and the Reliance Power stock may end above its issue price today.
But global markets are not very supportive for the time being. We expect a weak opening, unless Asian markets stage a rebound before the opening bell. IT stocks may remain in the limelight in the near term in case the rupee remains weak. Watch out for Centurion Bank of Punjab amid reports that it will be acquired by HDFC Bank, though both the companies have yet not confirmed any merger talks.
Shipping and auto parts companies may also be in action amid reports of some favourable proposals in store in the upcoming budget for the two sectors. Jai Corp. and Infotech Enterprises may also attract some attention on positive news flow. Bank of Rajasthan could be in action on expectations of a placement at a significant premium.
We mentioned yesterday not to get swayed by a day's rally as it could prove to be short-lived. Global indices are dancing to the beat of the daily dose of news coming from Wall Street. So, if one day some encouraging data or earnings report pushes the US shares up, the very next day a fresh set of weak economic reports will undo all the good work of the previous day. The markets remain volatile and it becomes tough to take a confident directional call.
The best way to beat the current uncertainty is to adopt a stock specific approach. Intra-day trading has turned pretty risky with the main indices fluctuating wildly. We expect the trend to continue for a while, even as head for a big budget week. We will also have the F&O expiry next Thursday. Keeping these two key events in mind, one should be a little bit more careful. Having said that, there are plenty of long-term opportunities on offer for the more daring of the bulls.
FIIs were net buyers of Rs2.09bn (provisional) in the cash segment yesterday while local institutions pulled out Rs1.41bn. In the F&O segment, FIIs were net buyers of Rs3.76bn. On Wednesday, they were net buyers of Rs567mn. Mutual Funds were net sellers of Rs1.91bn on the same day.
Asian stocks fell, with a region's benchmark set for its seventh weekly drop this year, on renewed concern about the health of the US economy. Toyota had its longest losing streak in almost five weeks, and Samsung declined the most in more than a week.
The MSCI Asia Pacific Index fell 1.2% to 142.82 at 11:24 a.m. in Tokyo. All 10 industry groups on the measure declined. The index is down 9.6% this year.
Last time we checked, the Nikkei in Tokyo was down 264 points or 1.9% at 13,423 while the Hang Seng in Hong Kong slumped 435 points or 1.8% to 23,187. The Kospi in Seoul was down 29 points at 1674 and the Straits Times in Singapore fell by 28 points at 3026.
The Shanghai Composite in China was down 115 points at 4411 and the Taiex in Taiwan was down 40 points at 8045.
US stocks slumped on Thursday on the back of a weak manufacturing report that stoked fresh worries that the world's biggest economy is on the brink of a recession, if it's not already in one.
All the three major indexes notched up losses of more than 1%, after a report showed that manufacturing activity in the Philadelphia area shrank the most in seven years. The grim data countered early momentum sparked by gains in technology shares.
The Philadelphia Fed index, a regional reading on manufacturing, tumbled to -24.0 from -20.9 in January. Wall Street economists had been looking for the gauge to improve a bit in the month. Negative readings suggest contraction in the sector.
The latest report follows a similarly bleak reading on manufacturing in the New York area that was released earlier this week, adding to mounting concerns that the US economy is fast slipping towards a recession.
Exxon Mobil, Chevron and GE declined, helping erase a 76-point gain in the Dow Jones Industrial Average. Target led losses in retailers after Citigroup told clients to sell the shares. SunTrust Banks fell the most in two months on a reduced credit outlook by S&P's and Oppenheimer's prediction of an imminent takeover.
The S&P 500 Index dropped 17.5 points, or 1.3%, to 1,342.53, its steepest loss since Feb. 14. The Dow slid 143 points, or 1.2%, to 12,284.3. The Nasdaq Composite slipped 27.32 points, or 1.2%, to 2,299.78.
Market breadth was negative. About four stocks fell for every one that rose on the New York Stock Exchange.
Weekly jobless claims declined last week, but the four-week moving average - seen as a more accurate indicator of the labor market - rose to levels not seen since October 2005 in the aftermath of Hurricane Katrina.
Analysts noted that claims offices in California, the largest state in the US, were closed for one day last week for a state holiday, giving laid off workers one less day to file claims.
Crude oil futures dropped for the first time in six days, falling 1.5% to close near the US$98-a-barrel mark, as government data showed that US crude inventories have risen more than expected.
Light, sweet crude for April delivery, the new front-month contract, declined $1.47 to close at $98.23 a barrel in New York. Earlier, it fell to an intraday low of $96.87. Natural gas moved lower despite that its inventories fell.
The Energy Information Administration reported that US crude inventories rose 4.2mn barrels in the week ended Feb. 15, outstripping the increase of 3.2mn barrels that analysts had expected.
Gold futures closed with gains after soaring to a new record high of $958.40 an ounce, boosted by weakness in the US dollar and the metal's appeal as a hedge against inflation. Gold for April delivery rose $11.40 to end at $949.20 an ounce in New York. Earlier, gold had surged to a new record high of $958.40.
April platinum futures also hit a record, climbing as high as $2,194.80 an ounce. Platinum finished up $49.40 at $2,188.20 an ounce.
Treasury prices rallied, lowering the yield on the benchmark 10-year note to 3.77% from 3.9% late on Wednesday. In currency trading, the dollar fell versus the euro and the yen.
European shares rebounded yesterday. The pan-European Dow Jones Stoxx 600 index rose 0.7% to 322.43. The French CAC-40 climbed 1% to 4,858.85, while the UK's FTSE 100 closed up 0.7% at 5,932.20 and the German DAX 30 added just 0.1% to 6,904.85.
In emerging markets, the Bovespa in Brazil was flat at 63,792 while the IPC index in Mexico gained 0.5% at 29,361. The RTS index in Russia was up 2.2% at 2065 and the ISE National-30 index in Turkey advanced 1.35% to 58,170.
Global cues to dictate trend
In a volatile trading session, markets managed to end with smart gains. It was the Metal and the IT stocks that were in limelight on Thursday. The IT stocks were in demand as a strong demand for dollars from importers and a lack of fresh inflow into the market led the spot rupee to breach the crucial barrier of 40.00 and hit a five-month low of 40.21/22 to a Dollar. However the banking stocks were on the receiving end.
After hitting a low of 17,482 benchmark index managed to bounce back nearly 250 points from thereon, led by gains in the frontline stocks like Infosys, Satyam, Tata Steel, RIL and Hindalco. Finally, the 30-share Sensex closed at 17,734 adding 117 points. The NSE Nifty closed at 5,191 gaining 37 points.
Overall about 1,461 stocks advanced, 1,248 stocks declined while 74 stocks remained unchanged. Among the BSE 30 index 21 stocks advanced while only 9 stocks declined.
Among the BSE Sectoral indices, BSE IT index (up 4.7%), BSE Metal index (up 3.8%), BSE Pharma index (up 1.4%), BSE FMCG index (up 0.6%). However, BSE Bankex index (down 1.2%)
Hexaware Technologies was up by 10% to Rs79. The scrip came off its days high after the company announced financial results for fourth quarter and Full-Year 2007. Financial year ended December 31, 2007, Revenue from operations stood at Rs10,398.03mn ($ 252.94 mn). Y-O-Y increase of 35.1% in $ terms. Y-O-Y increase of 22.6% in Rs terms. Net Profit after Tax was Rs1,100.74mn before minority interest and exceptional items. Net Profit after Tax was Rs72.29mn after minority interest and exceptional items. The scrip touched an intra-day high of Rs82 and a low of Rs73 and recorded volumes of over 68,00,000 shares on NSE.
SBI dropped 1.4% to Rs2178. According to reports, the Government plans to float special bonds which will be used to subscribe to the Rs167bn rights issue of. The scrip touched an intra-day high of Rs2235 and a low of Rs2125 and recorded volumes of over 7,00,000 shares on NSE.
Simplex Infrastructure was down 2.3% to Rs635. The company said that it has secured order worth Rs3.02bn in Oman. The scrip touched an intra-day high of Rs659 and a low of Rs615 and recorded volumes of over 8,000 shares on NSE.
Hindustan Zinc gained over 2% to Rs612 after the company said that it raised lead prices for a third time in eight days. Lead prices were raised by Rs3,300 to Rs1,38,500 per metric ton. However, the company left Zinc prices unchanged at Rs1,08,700 per ton. The scrip touched an intra-day high of Rs624 and a low of Rs601 and recorded volumes of over 42,000 shares on NSE.
HCL Technologies surged by over 3% to Rs276 after reports stated that the IT solutions provider has acquired CapitalStream, a US-based lending automation solutions provider, for Rs1.6bn in an all-cash deal. The scrip touched an intra-day high of Rs289 and a low of Rs273 and recorded volumes of over 9,00,000 shares on NSE.
i-flex Solutions edged lower by 0.3% to Rs1056 after the company announced that Volkswagen Bank selected Daybreak Lending Suite for its consumer lending business in the Netherlands. With aggressive targets for business growth, the bank decided to replace its legacy system with i-flex's proven and state-of-the-art lending solution. The scrip touched an intra-day high of Rs1106 and a low of Rs1040 and recorded volumes of over 62,000 shares on NSE.
Goldstone Technologies gained by 1% to Rs222 on announcement that it has launched commercial operations in Thailand. In Thailand, Goldstone Technologies has launched its IPTV services, in partnership with Synap Media & Infotech Co. Ltd, a business group which is aspiring to have a strong presence in the hospitality industry in the country. The scrip touched an intra-day high of Rs226 and a low of Rs216 and recorded volumes of over 46,000 shares on NSE.
News Snippets:
Adlabs, DLF, Parsvnath among the 25 bidders for redevelopment of Chanakya theatre. (Mint)
Deccan Aviation plans on raising Rs16bn capital. (Mint)
RCom acquires African firm for US$500mn to offer telecom access services in Uganda. (Mint)
Wockhardt to look at alternative avenues to fund its hospital network. (BL)
Hexaware Technologies reports Rs810mn loss on forex deals. (BL)
Alstom Projects wins export orders worth Rs5,920mn. (BL)
Simplex Infrastructures is awarded orders of Rs3,020mn for construction of six flyovers. (BL)
Madhucon Projects to transfer its BOT projects to a holding company. (BL)
L&T gets Cairn Engineering Services contract for pipeline project. (BL)
Hydro S&S Industries to supply plastic compounds and Caparo to make the body of Tata Motors’ Nano. (BL)
Glenmark Pharma’s arthritis drug enters clinical trial phase. (BL)
Kalyani Steel plans to set up Rs65bn steel and power plant in West Bengal. (BS)
Essar group to add an average of three stores a day to reach 1450 numbers by year end. (BL)
Patni Computers targets Japan market to double revenues in three years. (BL)
Infosys unveils first Latin American subsidiary to enhance service to clients in US. (BL)
Blackstone raises stake in
Gokaldas Exports to 68%. (BS)
Bharat Electronics plans JV with Israeli firm. (BS)
HDIL sells a commercial building project in Andheri, Mumbai for Rs9bn. (BS)
Bajaj Auto to list demerged entities in April 2008. (BS)
PNB and Vijaya Bank begin process of exiting JVs with US based Principal group. (BS)
Tatas may hive-off loss making Jaguar into separate entity. (ET)
HDFC Bank likely to takeover Centurion bank of Punjab in an all stock deal. (ET)
HDFC Bank plans to raise US$1bn from overseas markets for its global expansion plans. (ET)
Dutch Court restrains Ranbaxy Labs from launching generic version of Lipitor in the country before November 2011. (ET)
Goldstone Tech launches IPTV service in Thailand in partnership with Synap Media & Infotech. (ET)
Tata Tele to foray into enterprise solution space in US and UK. (ET)
Aditya Birla group in race to acquire personal loans and mortgage business of GE Money India. (ET)
Cabinet approves the proposal to issue special marketable securities to subscribe to the right issue of SBI. (ET)
Aditya Birla Nuvo to raise funds through issue of warrants to promoter group companies on preferential basis. (FE)
Dun & Bradstreet enters into agreement with Bank of Maharashtra. (FE)
REC IPO gets oversubscribed 4.13 times. (FE)
Teledata Informatics to raise Rs5bn through qualified institutional placement basis. (FE)
Economic Front Page:
Rising rubber prices hit tyre manufacturers. (BS)
The cabinet clears US$125mn subsidy for exporters. (Mint)
Railway Minister likely to reduce both passenger fares and freight rates. (ET)
The DoT rejects TRAI’s proposal that service providers, who do not get support from USOF, be provided subsidies for their rural rollouts. (ET)
Steel Minister to meet major steel producers next week to sort out issues pertaining to their mega investment plans. (ET)
The Government to modify the process of regulating prices of medicines outside the scope of their price control. (ET)
The Government likely to remove cap on overseas investments made by domestic companies. (FE)
The Government approves Rs5bn additional package in form of interest subventions for exporters. (FE)
Railway Minister to announce the use of high axle load wagons of 25 tons for transporting more varieties of commodities. (FE)
MMRDA to launch bidding for the second and third corridor of Mumbai Metro Railway Project in next3-4 months. (FE)
Pre Session Commentary - Feb 22 2008
The Indian Market is likely to have a negative opening due to unfavoring cues from the global markets. On Thursday, the market made a smart recovery towards the final trading hours of the session to close with handsome gains. The market opened on a strong note by taking the favoring cues from the global markets and rallied across the sectoral indices. Due to high volatility, the market dipped into the negative territory by paring all its initial gains but managed to made a good recovery at the end on the back of heavy buying across the counters. The Small Cap and Middle Cap also registered good gains as the investors also showed heir confidence in buying from these baskets. From the sectoral front, the IT stocks and Metal stocks remained the centre of attraction as most buying was seen from these counters. The BSE Sensex closed higher by 117.08 points at 17,734.68 and NSE Nifty closed up by 37.35 points at 5,191.80. We expect that the market may remain cautious during the trading session. The inflation figures which is due today, will give further directions to the market
On Thursday, the US market was closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 142.96 points at 12,284.30. S&P 500 index fell by 17.50 points to close at 1,342.53 and NASDAQ decreased by 27.32 points to close at 2,299.78.
Indian ADRs closed mixed. In technology sector, Wipro and Infosys grew by 1.38% and 1.12% respectively while Satyam fell by 1.14%. In banking sector, HDFC bank and ICICI bank dropped by (3.17%) and (2.14%) respectively.
Today, the major stock markets in Asia are trading weak. Hang Seng is trading lower by 456.27 points at 23,166.73 along with Japan''s Nikkei trading down by 264.34 points at 13,423.94 and Taiwan weighted trading at 8,053.27 down by 32.66 points. Singapore Strait Times is trading down by 28.10 points at 3,026.71.
Today, Nifty has support at 5,067 and resistance at 5,245 and BSE Sensex has support at 17,163 and resistance at 17,926.
Downbeat Economic data thrash US Market
A disappointing manufacturing reports hints at a more slowing economy
In spite of opening modestly higher in the morning, US Market ended the day with considerable losses today, Thursday, 21 February, 2008. The day started on an optimistic note with the help of technology stocks but market swiftly made a reverse course after poor economic data re-ignited the fears of economic slowdown in the US. Each of the major economic sectors ended trading in the red with the energy sector posting the largest decline.
The Dow Jones industrial Average ended the day with a loss of 143 points at 12,284. The Nasdaq Composite Index, finished lower by 27 points at 2,299. S&P 500 finished lower by 17.5 points at 1,342.
Twenty-eight of thirty Dow stocks ended in the red today. GM was the main Dow laggard today. Microsoft and Intel were the only two Dow winners today.
The day started off on a positive note after Cisco was upgraded by Citigroup to buy from hold. This gave the overall technology sector a good boost. Dow was up by more than 70 points at one time. Research In Motion was also a standout, after reaffirming its fourth quarter earnings and revenue guidance, and raising its net subscription guidance.
But the downward spiral came when the Federal Reserve Bank of Philadelphia reported manufacturing in the region weakened further in February. The February Philadelphia Fed, a regional manufacturing survey, came in at -24. Economists expected a reading of -10. Since the reading is below 0, it reflects a retraction in manufacturing in the region. After this report, indices lingered in the red for the rest of the day.
Separately, January leading indicators fell 0.1%, in-line with expectations.
Among other economic reports, new unemployment claims for the week ended 16 February fell to 349,000 from the prior reading of 358,000. This was nearly in-line with expectations, so the market did not have much of a response.
Crude prices fell from their record highs today. Prices fell after an Energy Department report showed that U.S. inventories rose almost twice as much as forecast, as refineries slowed processing to perform seasonal maintenance. Crude-oil futures for light sweet crude for April delivery today closed at $98.23/barrel (lower by $1.47/barrel or 1.45%) on the New York Mercantile Exchange. Earlier in the session, the April contract it a low of $96.27 a barrel.
EIA reported today that crude inventories rose 4.2 million barrels in the week ended 15 February outstripping the increase of 3.2 million barrels that market expected. On the demand side, EIA reported motor gasoline demand has averaged 9.0 million barrels per day, or 0.5% above the same period last year. Distillate fuel demand has averaged 4.3 million barrels per day over the last four weeks, down 1.9% compared to the same period last year.
Volume on the New York Stock Exchange neared 1.4 billion with more than three stocks declining on the exchange for every one that rose. On the Nasdaq, volume topped 1 billion, and decliners ran ahead of advancing stocks more than 2 to 1.
Tomorrow there are no major economic reports on the dock. A couple of earning reports are expected.
Morning Call - Feb 22 2008
Market Grape Wine :
In House :
Nifty at a supp of 5115 and 5052 levels with resistance at 5230 and 5295 levels .
Buy : Sail in F&O above 237 target 250 s/l of 232
Buy : MoserBaer in F&O above 177 atrget 189 s/l of 173
Sell : in Cash IciciBank below 1144 target 1120 s/l of 1153
Buy : in Cash ACC above 786 target 810 s/l of 778
Out House :
Markets at a support of 17575 & 17471 levels with resistance at 17817 & 17973 levels .
Buy : RIL at dips
Buy : Sail & Tisco at dips
Buy : SBIN & HDFCBank at dips
Buy : Powergrid & Neyvelli
Buy : EssarOIL
Buy : Adhunik & SimplexInfra
Buy : TulipIT & CBOP
Buy : INFY & Satyam
Dark Horse : SKumar , RELCAP , INFY , IDBI , NTPC , RIL , Sbin , & HLL
TGIF : Thank God Its Friday : Markets range bound buy low sell high call for the day .
NSE Bulk Deal Watch - Feb 21 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
21-FEB-2008,ALLCARGO,Allcargo Global Logistics,BLACKSTONE GPV CAPITAL PARTNERS MAURITIUS V A LTD,BUY,276300,819.48,-
21-FEB-2008,ANGAUTO,ANG Auto Limited,PIVOTAL SECURITES PVT. LTD.,BUY,125000,120.00,-
21-FEB-2008,BANG,Bang Overseas Limited,AVINASH PURI,BUY,68004,167.61,-
21-FEB-2008,BANG,Bang Overseas Limited,CPR CAPITAL SERVICES LTD.,BUY,81575,168.61,-
21-FEB-2008,BANG,Bang Overseas Limited,SUNIL PANDURANG MANTRI,BUY,68321,168.60,-
21-FEB-2008,BANKRAJAS,Bank Of Rajasthan Ltd,MACQUARIE BANK LIMITED,BUY,1000000,165.00,-
21-FEB-2008,KALINDEE,Kalindee Rail Nirman (Eng,QUANTUM (M) LIMITED,BUY,625000,433.00,-
21-FEB-2008,KALINDEE,Kalindee Rail Nirman (Eng,T ROWE PRICE INT INC A/C T ROWE PRICE NEW ASIA FUND (9089),BUY,923900,433.00,-
21-FEB-2008,STAR,Strides Arcolab Limited,MORGAN STANLEY DEAN WITTER MAURITIUS CO. LTD,BUY,176000,160.75,-
21-FEB-2008,XLTL,XL Telecom Limited,FRANKLIN TEMPLETON MUTUAL FUND,BUY,311967,318.00,-
21-FEB-2008,XLTL,XL Telecom Limited,KMRINDUSTRIESLIMITED,BUY,118736,327.23,-
21-FEB-2008,ANGAUTO,ANG Auto Limited,EVEREST FINANCE & INVESTMENT CO.,SELL,125000,120.00,-
21-FEB-2008,BANG,Bang Overseas Limited,AVINASH PURI,SELL,68004,168.59,-
21-FEB-2008,BANG,Bang Overseas Limited,CPR CAPITAL SERVICES LTD.,SELL,81575,168.99,-
21-FEB-2008,BANG,Bang Overseas Limited,SUNIL PANDURANG MANTRI,SELL,68321,169.30,-
21-FEB-2008,KALINDEE,Kalindee Rail Nirman (Eng,AMIF I LTD,SELL,1570829,433.00,-
21-FEB-2008,STAR,Strides Arcolab Limited,BSMA LIMITED,SELL,176000,160.75,-
21-FEB-2008,USHAMART,Usha Martin Limited,STICHTING PENSIONOENFONDS ABP,SELL,1403000,91.15,-
21-FEB-2008,XLTL,XL Telecom Limited,GOLDMAN SACHS INVESTMENTS MAURITIUS I LIMITED,SELL,200000,318.01,-
21-FEB-2008,XLTL,XL Telecom Limited,KMRINDUSTRIESLIMITED,SELL,108000,318.00,-
BSE Bulk Deals to Watch - Feb 21 2008
This data was last updated on Thursday, February 21, 2008 6:18:48 PM
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
21/2/2008 531190 A V COTTEX I EVERSIGHT TRADECOMM PVT LTD B 30000 16.50
21/2/2008 531190 A V COTTEX I S K GUPTA AND SONS S 30000 16.50
21/2/2008 511706 ACTION FIN PKJ SHARE BROKER LTD B 60000 43.00
21/2/2008 532749 ALLCARGO GLO BLACKSTONE GPV CAPITAL PARTNERS MAURITIUS V A LTD B 125129 819.71
21/2/2008 511589 ALMONDZ CMS RAKAM MONEY MATTERS PVT LTD S 175000 32.05
21/2/2008 504629 ANIL SP STEL SHEETAL RAJESH JAIN B 20000 22.39
21/2/2008 531223 ANJANI SYNTH NATRAJ FINANCIAL AND SERVICES LTD B 93580 50.02
21/2/2008 531223 ANJANI SYNTH NATRAJ FINANCIAL AND SERVICES LTD S 95580 50.04
21/2/2008 532946 BANG SAM GLOBAL SECURITIES LTD B 78630 171.36
21/2/2008 532946 BANG SAM GLOBAL SECURITIES LTD S 78630 171.52
21/2/2008 500019 BANK OF RAJ. MACQUARIE BANK LIMITED B 1000000 165.00
21/2/2008 590061 BRUSHMAN IND TAIB BANK AC TSML S 67294 90.54
21/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 606934 9.52
21/2/2008 531682 CAT TECHNOL OUDH FINANCE INVESTMENT PVT LTD S 299312 9.51
21/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 606934 9.68
21/2/2008 532413 CEREBRA INT SUNIL G RATTEJA S 30000 33.90
21/2/2008 512624 CHANDRIK TRA SANGEETA PAREEKH B 82202 3.40
21/2/2008 512624 CHANDRIK TRA SHIVALIK SECURITIES LTD S 32400 3.40
21/2/2008 512624 CHANDRIK TRA MASTER TRUST LTD S 53702 3.45
21/2/2008 512624 CHANDRIK TRA SECUROCROP SECURITIES INDIA PRIVATE LIMITED S 29550 3.43
21/2/2008 511672 CLARUS MANAS STRATEGIC CONS P. LTD S 113116 7.48
21/2/2008 524388 CRAZY INFOTE MANOJ DAGA B 46000 40.01
21/2/2008 512379 CRESSANDA SO KH SECURITIES PVT LTD B 150000 980.00
21/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1030404 9.30
21/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1038765 9.33
21/2/2008 531750 ENCORE SOFT SUBH STOCK BROKING PVT LTD B 45000 19.30
21/2/2008 531750 ENCORE SOFT SHREE MATA FINANCE PVT LTD S 45000 19.30
21/2/2008 532022 FILAT FASH KISHOR B GIRI B 100000 19.50
21/2/2008 509557 GARWARE WALL FIDELITY TRUSTEE CO PVT LTD AC FIDELITY TAX ADVANTAGE FUND S 222857 130.00
21/2/2008 532318 GEMINI COMMU SHARMISHTA MAHESHBHAI SHAH B 62631 198.17
21/2/2008 532318 GEMINI COMMU SHARMISHTA MAHESHBHAI SHAH S 48731 188.15
21/2/2008 530263 GLOBAL CAP M PANKAJ JINDAL B 125000 12.10
21/2/2008 532675 PRITHVI INFO CHANDRA FIN. SERV.PVT. LTD S 125342 273.20
21/2/2008 526861 RISHI LASER SUNIDHI SECURITIES AND FINANCE LTD B 97000 137.48
21/2/2008 526861 RISHI LASER JASVANTLAL CHHOTALAL AND CO P LT S 97312 137.49
21/2/2008 524542 SUKHJIT ST C INDER KRISHAN SARDANA B 41471 143.85
21/2/2008 532738 TANTIA CONS PREMIER CAPITAL AND SECURITIES PVT LTD B 99648 133.00
21/2/2008 532411 VISESH INFOT TRIVENI MACFIN LIMITED B 225000 23.85
21/2/2008 532411 VISESH INFOT MR. N. SURYANARYANA S 225000 24.00
Crude price takes a ease
Crude prices drop from record highs as inventory rises more than expected
Crude prices fell from their record highs today, Thursday, 21 February, 2008. Prices fell after an Energy Department report showed that U.S. inventories rose almost twice as much as forecast, as refineries slowed processing to perform seasonal maintenance.
Crude-oil futures for light sweet crude for April delivery today closed at $98.23/barrel (lower by $1.47/barrel or 1.45%) on the New York Mercantile Exchange. Earlier in the session, the April contract it a low of $96.27 a barrel.
EIA reported today that crude inventories rose 4.2 million barrels in the week ended 15 February outstripping the increase of 3.2 million barrels that market expected. On the demand side, EIA reported motor gasoline demand has averaged 9.0 million barrels per day, or 0.5% above the same period last year. Distillate fuel demand has averaged 4.3 million barrels per day over the last four weeks, down 1.9% compared to the same period last year.
EIA also reported that Gasoline supplies rose by 1.1 million barrels in the latest week, while distillate stocks fell by 4.5 million barrels. Total petroleum inventories, including crude oil, gasoline, and diesel, decreased by 3.7 million barrels last week, but they are still in the upper half of the average range for this time of year.
Brent crude oil for April settlement today fell $2.18 (2.2%) to $96.24 on the London-based ICE Futures Europe exchange. The London benchmark rose 54% in FY 2007, the most since 1999 when prices more than doubled.
Natural gas declines
Natural gas futures declined on signs the U.S. economy is moving closer to a recession, paring energy demand. March natural gas fell 7.4 cents to $8.891 per million British thermal units. EIA also reported that natural gas inventories fell 172 billion cubic feet to 1,770 billion cubic feet.
Against this backdrop, March reformulated gasoline dropped 6.32 cents to $2.5220 a gallon, and March heating oil fell 1.65 cents to $2.7381 a gallon.
In a monthly report released last week, EIA said the world oil market is poised to ease over the next two years with production increases offsetting moderate growth in oil demand.
Gold and Silver move to record highs
Gold and silver continue to make new marks for themselves
Bullion metals were back in their rally once again today, Thursday, 21 February, 2008 with the slumping dollar and rise in overall commodity prices.
Gold generally moves in the opposite direction of the U.S. currency. Gold, as a dollar-denominated commodity, suffers from dollar strength.
Comex Gold for April delivery rose $11.4 (1.2%) to close at $949.2 an ounce on the New York Mercantile Exchange. Earlier in the day, prices hit a high of $958.4. On 30 January, 2008 prices had hit a high of $941 in the after hours trading. This year, prices have gained 13.7% till date. In January, prices gained 11%, the highest monthly gain since April 2006. Last week, gold prices suffered a loss of $16.2/ounce (1.8%).
Comex Silver futures for March rose by 19 cents (1.1%) to $17.95 an ounce. Silver has gained 18.3% in 2008. The metal had climbed 16% in FY 2007. The metal also has gained for seven straight years. In January this year itself, prices climbed 14%.
Gold has traditionally been used as a safe-haven asset against rising inflation. Investor sentiments are boosted by the fact that gold and silver are alternate sources of good investment in the face of declining dollar and rising energy prices. Rising crude increases inflationary pressures and vice versa. On the other hand strong dollar reduces the appeal of the metal as alternate source of investment.
Gold witnessed the greatest annual gain in twenty eight years by gaining $200/ounce (31%) in FY 2007. In 2006, silver had jumped 46% while gold gained 23%.
In the energy market today, crude-oil futures fell by more than $2 today and were back around $97/barrel. Prices dropped as government data showed U.S. crude inventories rose more than expected in the latest week.
In the currency market today, the dollar index, which tracks the performance of the greenback against a basket of currencies, fell 0.7% to 75.56.The greenback was pressured by worse-than-expected manufacturing in the Philadelphia region as reported by the Federal Reserve Bank of Philadelphia.
Subscribe to:
Posts (Atom)