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Wednesday, January 02, 2013
Positive start likely on Asian support
The Indian markets are expected to open in the green zone tracking positive Asian cues. SGX Nifty is also trading 74.50 points higher. Events for the day: India December Markit Manufacturing PMI. Stock in news: Hero MotoCorp posts marginal rise in sales. OBC cuts interest rate on home loans by 0.1%. NMDC in talks for coking coal mines in Russia, Mozambique.
A rally on cards on positive Asian stocks
The market may open firm on positive Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could surge 74.50 points at the opening bell. Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for December 2012 today, 2 January 2013. Asian stocks edged higher on Wednesday, 2 January 2013 as investors snapped up shares across sectors as the U.S. House of Representatives was set to vote on the Senate's approval for a bill on the fiscal cliff. Reliance Industries (RIL) on Tuesday, 1 January 2013, said it has bought back 4.62 crore shares for about of Rs 3358.91 crore till 24 December 2012 under its ongoing share buyback program. RIL has set maximum buyback price of Rs 870 per share. The company has set aside Rs 10440 crore for share buyback. The buyback program opened on 1 February 2012 and closes on 19 January 2013. Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles in December 2012 were 65,582 vehicles. The company's domestic sales of Tata commercial and passenger vehicles for December 2012 were 61,700 units.
Daily News Roundup - Jan 2 2013
Adani Power has requested the Coal Ministry to grant long-term coal linkage for its proposed thermal power plant in Maharashtra. (BL) Indorama Ventures plans to expand its annual US polyethylene terephthalate (PET) production capacity by 540,000 tonnes at an undisclosed brownfield location. (BL) Gujarat Ambuja Exports Ltd has started trial run production of its 750 tonnes per day (TPD) new maize processing, derivatives and other value-added products processing unit in Haven district of Karnataka. (BL) Aurobindo Pharma Ltd has received final approval from the US Food & Drug Administration to manufacture and market Rizatriptan Benzoate tablets. (BL)
A Whiff of the cliff…
"Let go over a cliff, die completely, and then come back to life - after that you cannot be deceived" - Zen Proverb The New Year has got off to a happy start and amidst all the drama surrounding the fiscal cliff situation, indices are clocking gains world over. The positive action is set to continue in our market too and the indices could see gains at start again. The Nifty Futures managed to cross the 6,000 mark. Positive momentum has set in as the Nifty achieved a breakout from the trading range of 5850-5930 closing near the 5950 levels. Global cues remain encouraging with Asian markets too joining the party.
2012 Tidbits
RIL was the biggest drag on Nifty in last 5 years. The year is over now but we thought we’ll leave you with some tit-bits on the year that has gone by. Sure you may like to share your own bit of memorable moments. Before we look back at 2012, a little bit of trivia on 2013. It’s 25yrs since we got a year with all 4 digits being different (first year since 1987). Best Sectoral Performance of 2012: Real Estate : +58% in spite of <27% return from 42% of the index..(DLF/GPL/PARSV were the laggards). 2nd Best Index : FMCG +50%... Year of Broader mkt recovery: 53 stocks gave more than 100% return in 2012 (range being +800% to -90%). Among these, the only names with more than 20 BUYS at the start of 2012: Shree Cement / Sobha Developers… Biggest Drag on Nifty in last 5yrs: RIL – the darling of investors once upon a time. RIL (-313pts) vs Nifty -175pts; and ITC (+330pts). Biggest Drag on Nifty in Last 3yrs: RIL (-135pts) vs Nifty +735pts; and again ITC (+285pts). Worst Performing stock in BSE 100: Infosys - Had less than 10% SELL Recos in 2007 (one among being IIFL’s first print report on the sector "Juiced"). 41 BUYS as of 2012 beginning is now down to 30 BUYs as of 2013 start; for a stock well covered by 73 SELL Side Analysts…more than Apple with just ~20% of the latter's mkt cap.. 3yrs of Polarised Mkt: Top 10 performers: ITC HDFC Bank HDFC ICICI Bank Hindustan Unilever TCS Tata Motors Mahindra Sun Pharma Axis Bank Top 10 Drags: RIL BHEL STLT TATA INFY JSP SAIL RELI NTPC RCOM These stocks contributed 480 pts to the decline even as Nifty rallied +735pts. How much FII money Indian Equities need to perform in 2013: 2007: 74% USD return @ $17bn inflow; 2012: 24% USD return @ $24bn inflow ($4.2bn inflow in Dec for a flat market) Best NPA recovery rate among Banking Stocks: Karur Vysya, 2002-2012, 81% of NPAs recovered. 2002-2012: returns compounded at a faster rate than HDFC Bank. Still will give 30% return even if it goes to 2x P/B.
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