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Wednesday, March 14, 2012
Daily News Roundup - March 14 2012
Biocon’s US$350mn pact with global pharmaceutical major Pfizer was called off 18 months after the deal was signed. (BS)
A consortium of 27 banks will soon decide on HCC’s request to be allowed to restructure its loans under the CDR process. (BS)
The CLB asked Unitech to decide by Monday if it wanted to buy its JV partner Telenor’s 67% stake in Uninor or sell its 33% stake to the Norwegian firm. (BS)
Getting on track with big events!
Those who have a one-track mind, their train of thoughts often become derailed – Anonymous.
The first of the ‘big event’ days of the week is here with eyes fixed on Railway Budget and February inflation. The market doesn’t seem to be showing any signs of nervousness and seems to be well on track for now. The key stock indices have rallied quite smartly, belying fears of weakness following Congress’ poor show in the state polls. The grand old party continues to face political heat on several fronts – yet again exposing its chinks.
Strong start likely; Rail Budget in focus
The Indian markets may extend gains today mirroring strong global peers. Railway Budget and February inflation will be eyed.
Headlines for the day
Bajaj Hindusthan to merge two arms to cut costs
Sistema may start proceedings against India after Aug 28
Panel okayed less than half of RIL's expenditure on KG-D6
COAI moves SC against TDSAT order allowing dual technology
NMDC to acquire three assets abroad by June-July
Mixed finish for bullions
Gold loses luster but silver climbs up
Bullion metal prices ended mixed on Tuesday, 13 March 2012 at Comex. Gold prices lost luster but silver prices moved up. A strong dollar, better than expected retail sales data and comments from latest FOMC meet pushed gold prices lower.
Gold for April delivery ended lower by $5.6 or 0.3%, to end at $1,694.2 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. Prices edged up 0.1% last week. Prices shed 1.7% on the month of February 2012.
On Tuesday, silver prices for May delivery ended higher by $0.17 or 0.5% at $33.58. Last week, silver declined 1%. Silver gained 6.5% during February 2012.
Crude climbs up paring earlier weakness
Prices rise following upbeat retail sales data
Crude prices pared earlier weakness and ended higher on Tuesday, 13 March 2012 at Nymex. Prices were trading a bit lower earlier following strong dollar. But an upbeat retails ales data and latest statements from the Fed pushed prices higher.
Light and sweet crude for April delivery rose $0.37 (0.4%) to $106.71 a barrel on the New York Mercantile Exchange on Tuesday. Prices advanced 0.7% last week. Prices gained 8.7% during February 2012.
Data today featured February retail sales, which increased by 1.1%. Sales less autos increased by 0.9%. Both were better than what had been widely predicted. Business inventories for January hardly generated any buzz among market participants. Inventories reportedly increased by 0.7%, which is slightly greater than the 0.6% increase that had been broadly expected.
Market may extend recent gains on firm Asian stocks
The market may extend recent gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 74 points at the opening bell.
Railways budget will be presented by the Railways Minister Dinesh Trivedi in the parliament today, 14 March 2012. Shares of companies whose fortunes are linked to orders from Indian Railways will be in focus ahead of the railway budget. Market expectations are that the railways could impose a safety cess on tickets but will not call it a fare hike. Emphasis this time will be on modernisation, infrastructural overhaul and the dedicated freight corridor.
Tuesday, March 13, 2012
Olympic Cards Grey Market Premium
Company Name | Offer Price (Rs.) | Premium (Rs.) | Kostak (Rs. 1 Lac Application) | Kostak (Rs. 2 Lac Application) | Kostak (Rs. 5 Lac Application) |
Hudco | 1000 | +/- 1 to 1.50 | -- | -- | -- |
REC | 1000 | 2 to 2.50 (Seller) | -- | -- | -- |
Olympic Cards Ltd. | 30 to 32 | 3 to 3.50 | -- | 2500 to 2600 | -- |
BSE Bulk Deals - March 13 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/3/2012 511706 Action Fin HITESH KANTILAL GANDHI B 100000 26.25
13/3/2012 511706 Action Fin NITA HITESH GANDHI B 60000 26.25
13/3/2012 511706 Action Fin SEKSARIA INDUSTRIES PVT. LTD S 356059 26.28
13/3/2012 507852 Addi Inds-$ SEWASTUTI FINANCE P.LTD B 150000 5.25
13/3/2012 507852 Addi Inds-$ ALKYONE REALTORS PRIVATE LIMITED S 150000 5.25
13/3/2012 533314 AGS Infotech COASTAL FERTILISERS LIMITED B 100000 28.19
13/3/2012 533314 AGS Infotech GODAVARI COMMERCIAL SERVICES PRIVATE LIMITED S 100000 28.19
13/3/2012 532435 Asia HR Tech TRINITY INVESTMENTS B 100000 7.60
NSE Bulk Deals to Watch - March 13 2012
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-MAR-2012,BEDMUTHA,Bedmutha Indust Ltd,NITIN BABAJI PALANDE,BUY,212313,22.11,-
13-MAR-2012,GLODYNE,Glodyne Technoserve Ltd,VINCENT TRADING PRIVATE LIMITE,BUY,300000,331.47,-
13-MAR-2012,JAMNAAUTO,Jamna Auto Ind Ltd,GAGANDEEP CREDIT CAPITAL PVT. LTD.,BUY,1003127,101.00,-
13-MAR-2012,NAVNETPUBL,Navneet Publications Ltd.,ACCORD HOLDINGS PVT LTD,BUY,2093221,56.89,-
13-MAR-2012,NAVNETPUBL,Navneet Publications Ltd.,CORSA HOLDINGS PVT. LTD.,BUY,1489831,57.43,-
13-MAR-2012,NAVNETPUBL,Navneet Publications Ltd.,QUALIS HOLDINGS PVT LTD,BUY,1755932,57.32,-
13-MAR-2012,NORBTEAEXP,Norben Tea & Exp Ltd.,APARNA DAGA,BUY,100000,6.30,-
Sensex up for 3rd day, ends 226 points higher
The Indian markets stayed higher all throughout the day and ended the session on a positive note. The Sensex up 226 points and the Nifty up 70 points
Headlines for the day
Disinvestment target for 2012-13 at Rs30,000 cr: FM
Coal India likely to hike price in April-June
SBI has no plans to lend more to Kingfisher: FM
Biocon hits 52-week low as Pfizer scraps insulin deal
Sensex, Nifty scale 2-1/2-week highs
Key benchmark indices edged higher for the third straight trading session to attain their highest closing level in 2-1/2 weeks as firm global stocks boosted sentiment. The barometer index, BSE Sensex, jumped 225.95 points or 1.28%, off close to 30 points from the day's high and up about 135 points from the day's low. World stocks rose on optimism of a Greece bailout. Index heavyweight Reliance Industries (RIL) advanced close to 3%. The market breadth was positive.
From a recent low of 17,145.52 on 7 March 2012, the BSE Sensex has gained 668.10 points or 3.89% in three trading sessions. The barometer index has risen 60.94 points or 0.34% in March 2012 so far (till 13 March 2012). The index has surged 2,358.70 points or 15.26% in calendar 2012 so far (till 13 March 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,677.76 points or 17.69%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 1,997.52 points or 10.08%.
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