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Friday, October 09, 2009
Direct Tax Code...Govt identifies 7 areas for examination
Finance Minister announced that the Government has identified seven critical areas on the Direct Taxes Code for further detailed examination. At an interactive session with representatives of trade and industry, Pranab Mukherjee said that the areas identified after interactions with all stakeholders are: the concept of Minimum Alternative Tax (MAT) based on gross assets; Capital Gains Taxation in the case of non-residents; The Income Tax Act and the Double Taxation Avoidance Agreement (DTAA); General Anti-Avoidance Rule (GAAR); Issues relating to effective management control and taxation of foreign companies in India; Taxation of charitable organizations; and Shift from EEE to EET taxation system. On the apprehensions expressed regarding the time schedule for implementation of the new Direct Taxes Code, the Finance Minister assured that next steps would be taken only after a comprehensive review of the draft by taking on board the suggestions received. "Every effort would be made to meet the aspirations and expectations of our taxpayers and our vibrant corporate sector," Mukherjee said.
Best ELSS funds to save tax
Inall probability, your checklist for the month's errands reads something likethis: get the house painted before the festive season; refurbish the livingroom; finish the Diwali shopping. Now, add one more to this list: start taxplanning. But it's just October. Why should you start your tax planning rightnow? It should be done at the beginning of the new year when your employersends you the tax deduction notice, right?
Wrong.We have said this before and we are saying it again. Don't compress your taxplanning in the last one or two months of the financial year. Spreading yourinvestments over the year is crucial if you are investing in tax-saving mutualfunds. Stock markets have been very volatile in the past two years. If youdon't want to be caught on the wrong foot, take the SIP route instead of alump-sum investment at the end of the year.
Wehave shortlisted eight of the best tax plans for you. Performance is not theonly reason why these funds have been chosen. Each scheme has been handpickedon the basis of its risk profile, consistency of returns, investment style andquality of holdings. Using the same parameters, we have put these eight fundsin four broad categories (see tables). This is not a ranking of the ELSS funds;all are good performers. Your choice should depend on your risk profile andexpectations.
Large-capsolidity
Slowand steady wins the race. Both Franklin Templeton Taxshield and SBI MagnumTaxgain have a decidedly large-cap orientation. While this means muted returnswhen the markets are rising, it also means a limited downside when the goinggets tough. Franklin Taxshield fell less than the category in 2008, but hasrisen less than the average ELSS fund in 2009. In fact, both the funds haveunderperformed the category in the short term, but outperformed it over thelonger term. Investors can expect returns in line with the broader market.
Incidentally,Magnum Taxgain is the largest ELSS fund, with assets worth Rs 4,434 crorealmost 40% of the ELSS category. It tops the category for a five-year periodwith annualised returns of 35.56%. Don't expect an encore though. It is likelyto give middle-of-the-road returns.
Fast-trackgrowth
Forthose who like to drive a bit faster, the Sundaram BNP Paribas Taxsaver andFidelity Tax Advantage are good options. Though the former has underperformedthe category in 2009, don't let this stop you. The fund has given scorchingreturns over the longer term 19% in the past three years and 33% in the past fiveyears. It has 35% of its assets in mid-cap stocks, which can prove veryrewarding. Fidelity Tax Advantage has matched the category average, but thiscan change to outperformance due to the 25% exposure to mid-caps and 11% tosmall-caps in its portfolio.
Mid-capaggression
Nopain, no gain. If you can stomach a little risk, you have two winners in HDFCTaxsaver and Canara Robeco Equity Taxsaver. Both the funds have a sizeableexposure to mid-caps and small-caps. This aggression has paid rich rewards. WhileCanara Taxsaver has shot up 110% in the past six months, HDFC Taxsaver hasrisen 100%. It doesn't always pan out this way. HDFC Taxsaver was among thebest performing ELSS funds between 2002 and 2005, but slipped subsequently. Ithas now regained lost ground. On the other hand, Canara Robeco Taxsaver hasconsistently beaten the category average and has been the best performer since2006.
Turbo-chargedon small-caps
Small-capstocks are like performance enhancing drugs. In the six funds discussed earlier,the maximum allocation to small-caps was 12%. However, Taurus Taxshield andSahara Taxgain have invested almost 20% in this high-risk zone. This can bevery rewarding when the going is good, but a dream run can easily become anightmare.
Taurus Taxshield has given 76.12% returns in2009, the highest in the category, but its performance has been erratic. Thefund lost 10% in 2006 when the category rose by 30%. The next year, the fundshot up by 111%, while the ELSS average was 57%. Buy if you can handle therisk.
via Indiainfoline
Weekly Newsletter - Oct 9 2009
The market continues to be volatile as the main indices consolidate after hitting multi-month highs. The Sensex and the Nifty erased all of the previous week's gains amid nervousness about the results. The Reliance bonus announcement and Infosys' strong results cum guidance too could not counter the jitters with regard to high valuations and an uncertain external situation. Liquidity flows from FIIs have also turned choppy lately. The performance of the stocks post IPOs haven't been all that inspiring either. The outlook has turned a little murky after a seven-month rally as most players are reluctant to take fresh bets in the absence of fresh good news.
One might just get some good news though next week when the IIP data for August is released on Monday. The industrial output grew by 6.8% in July after an impressive 7.8% gain in June. A top government official sees IIP at double-digits by December. What impact it will have on sentiment remains to be seen, as this could increase the chance of rate hikes by the RBI, especially if inflation too starts spiking.
On Tuesday, the market will be shut due to the Maharashtra state assembly polls. Next week also marks the start of the annual festival of light - Diwali. The bulls will be hoping that goddess Laxmi showers her blessings on the market. The traditional Mahurat session will be held on Oct. 17.
Meanwhile, the result announcements will only gather momentum keeping the market on tenterhooks. Among the top companies declaring their results next week are: Axis Bank, DCB, Exide, Praj Industries, Sintex, HDFC, HDFC Bank, Bajaj Auto, JP Hydro, Concor, Infotech Enterprise, Motilal Oswal, Parsvnath, KPIT Cummins, Wyeth, GTL Infra, TCS and UltraTech Cement.
In the US the economic reports to watch out for are retail sales, FOMC minutes, CPI, industrial production and consumer sentiment.
Telecom stocks tank on price war woes
The booming Indian telecom sector witnessed one of its bloodiest weeks on the bourses, as the predatory pricing unleashed by a few wireless players heightened worries over the adverse fallout on the companies' bottomlines. A new plan launched by RCOM coupled with comments from TRAI chief on 'per-second-billing' added fuel to the fire though the regulator tried to assuage investors' concerns by saying that the plan may will not be made mandatory. Bharti, RCOM and Idea shares tumbled badly before recovering on Friday. A string of brokerages slashed their earnings expectations for the telecom titans amid fears that the price war is only likely to intensify with a number of new players waiting in the wings.
Telecom operators would be free to offer various tariff plans to their subscribers, including the per-second billing scheme, TRAI said. Telecom firms would also be free to fix the tariff per second, the telecom regulator said. "We are not looking at mandating per-second billing for the operators. We would float a consultation paper on it and decide only if the industry sees benefits in the system," TRAI chairman J.S. Sarma said. The regulator plans to issue a consultation paper by the end of this year. Currently, majority of the wireless operators charge customers on per minute basis even if the call terminates before 60 seconds. The per-second-billing model is being followed by Tata DoCoMo and new entrant Sistema Shyam.
Tata DoCoMo recently switched to a 'pay per second' tariff model and several other new entrants are expected to launch wireless services with competitive pricing that will likely put pressure on the incumbent players to follow suit. One such company, RCOM, this week swung into action to mitigate the impact on its operations by unveiling a plan called "Simply Reliance" whereby customers (both pre-paid and post-paid) can make Local and STD calls across networks at 50 paise per minute by paying a small one-time fee. The 50 paisa-a-minute rate also applies to SMSes and roaming calls. "TRAI has been following a policy of forbearance so this development comes as a surprise," Manoj Kohli, CEO & Joint MD of Bharti Airtel said. Top officials from Vodafone Essar and Idea echoed his view.
BSE Bulk Deals to Watch - Oct 9 2009
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
9/10/2009 515055 ANANT RAJ IN COPTHALL MAURITIUS INVESTMENT LIMITED B 4287801 132.00
9/10/2009 515055 ANANT RAJ IN ORIENT GLOBAL CINNAMON CAPITAL LIMITED S 4307688 132.01
9/10/2009 524760 ARVIND INTER SUNITA GOYAL S 30745 10.82
9/10/2009 512149 AVANCE TECHN SHWETA KISHORE BHATIA B 1300000 2.93
9/10/2009 531591 BAMPSL SECUR B.S.KHANDELWAL S 1097000 0.57
9/10/2009 511672 CLARUS SMITA LEKHRAJ KANUNGO B 25964 10.99
9/10/2009 511672 CLARUS MANJU LEKHRAJ KANUNGO B 50000 10.86
9/10/2009 511672 CLARUS CELEBRITY CONSULTANTS PRIVATE LIMITED S 20100 10.90
9/10/2009 505232 DENISON HYDR REKHA SUBHASH JAIN B 16500 314.40
9/10/2009 505232 DENISON HYDR SNEHA DILIP BHAI VARIYA B 16500 326.43
9/10/2009 505232 DENISON HYDR REKHA SUBHASH JAIN S 16500 326.43
9/10/2009 505232 DENISON HYDR SNEHA DILIP BHAI VARIYA S 16500 314.39
9/10/2009 522261 DOLPHIN OFF DHANANJAY MONEY MANAGEMENT SERVICES B 82958 367.98
9/10/2009 522261 DOLPHIN OFF DHANANJAY MONEY MANAGEMENT SERVICES S 82958 371.27
9/10/2009 532666 FCS SOFTWARE TRANSGLOBAL SECURITIES LTD. B 238667 120.88
9/10/2009 532666 FCS SOFTWARE OPG SECURITIES P LTD B 305340 121.92
9/10/2009 532666 FCS SOFTWARE TRANSGLOBAL SECURITIES LTD. S 238667 120.85
9/10/2009 532666 FCS SOFTWARE OPG SECURITIES P LTD S 305340 121.94
9/10/2009 532768 FIEM INDS SUNEET LAL B 67926 107.85
9/10/2009 532768 FIEM INDS SUNEET LAL S 67926 108.55
9/10/2009 531486 FILMCIT MEDI WELLNESS COMMUNICATION (P) LTD S 2500000 0.99
9/10/2009 500033 FORCE MOTR JAMNALAL SONS LTD B 76378 155.00
9/10/2009 500033 FORCE MOTR ANANT TRADING COMPANY S 76378 155.00
9/10/2009 531863 GEEKAY FINAN RAJESH C R NAIR B 138000 320.40
9/10/2009 531863 GEEKAY FINAN YOUSUF BUX S 100000 320.41
9/10/2009 532857 GLORY POLY ROSY DEAL COMM PRIVATE LIMITED S 190000 26.93
9/10/2009 531439 GOLDSTON TEC ANKIT RAJENDRA SANCHANIYA B 97026 28.18
9/10/2009 531439 GOLDSTON TEC ANKIT RAJENDRA SANCHANIYA S 97026 28.00
9/10/2009 531439 GOLDSTON TEC HEMANT MADHUSUDAN SHETH S 155000 28.21
9/10/2009 509684 INDIA FOILS SAINATH HERBAL CARE MARKETING P.LTD B 179183 16.79
9/10/2009 504336 INDTRADECO L ROOPA S SHAH B 1521500 0.42
9/10/2009 504336 INDTRADECO L VARSHA INDL TOWNSHIP ORGANISERS PVT LTD. S 1500000 0.42
9/10/2009 530643 INFOTREK SYS B K SONI HUF B 31500 29.20
9/10/2009 504786 INV PRECIS C VINOD RAHEJA P B 27181 105.06
9/10/2009 530395 K DHANDAPANI GANDIV INVESTMENT PVT. LTD. B 20688 39.96
9/10/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. B 227614 7.50
9/10/2009 530255 KAY POW PAP SATISH KUMAR GUPTA B 110377 7.62
9/10/2009 530255 KAY POW PAP GIRRAJ PRASAD GUPTA B 56451 7.84
9/10/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. S 281878 7.54
9/10/2009 530255 KAY POW PAP SATISH KUMAR GUPTA S 110377 7.40
9/10/2009 530255 KAY POW PAP GIRRAJ PRASAD GUPTA S 56000 7.40
9/10/2009 531692 KHYA MULT EN SHAILENDRA KUMAR TIWARY S 50000 1.85
9/10/2009 531602 KOFF BR PICT NIRMALABEN SURESHBHAI PARIKH B 487308 2.65
9/10/2009 524654 NATURAL CAPS VIVOG COMMERCIAL LTD B 70409 37.77
9/10/2009 531272 NIKKI GLOB F SUDEEP GOENKA B 28178 35.16
9/10/2009 511702 PARSHART INV BHARGAV JASHUBHAI PATEL B 31000 28.75
9/10/2009 511702 PARSHART INV SHIVA INVESTMENT B 20000 28.75
9/10/2009 511702 PARSHART INV PRADIPBHAI RAMBHAI PATEL S 73437 28.75
9/10/2009 533107 PIPAVAVSHIP TRANSGLOBAL SECURITIES LTD. B 3803479 57.27
9/10/2009 533107 PIPAVAVSHIP OPG SECURITIES P LTD B 3642944 57.25
9/10/2009 533107 PIPAVAVSHIP TRANSGLOBAL SECURITIES LTD. S 3803479 57.28
9/10/2009 533107 PIPAVAVSHIP OPG SECURITIES P LTD S 3642944 57.28
9/10/2009 590077 RANKLIN SOLU SATYANARAYANA VARAPRASAD GARIKIPATY B 28335 36.88
9/10/2009 590077 RANKLIN SOLU PARVATHANENI MOUNISHA S 25995 37.07
9/10/2009 531099 RUBRA MEDICA VINITA K AGARWAL B 35000 22.85
9/10/2009 531099 RUBRA MEDICA NILESH CHANDRAKANT SHETH S 35000 22.85
9/10/2009 531099 RUBRA MEDICA DHARMENDRA J MADHANI S 45100 22.85
9/10/2009 531901 SAARC NET GOVIND SHARDA B 500000 2.29
9/10/2009 531901 SAARC NET HEMCHAND JAIN S 300000 2.29
9/10/2009 505590 SCENARIO MED REKHA MEHTA B 5000 115.75
9/10/2009 505590 SCENARIO MED RAKESH MEHTA B 5000 115.75
9/10/2009 505590 SCENARIO MED RANGA RAO NUTHAKKI B 7500 115.75
9/10/2009 505590 SCENARIO MED POONAM AGGARWAL B 5000 115.75
9/10/2009 505590 SCENARIO MED KAMAL KUMAR AGARWAL B 4400 115.75
9/10/2009 505590 SCENARIO MED KUSUM GUPTA S 5150 115.75
9/10/2009 505590 SCENARIO MED GEETA DEVI SINGHAL S 7000 115.75
9/10/2009 505590 SCENARIO MED SMP SECUTITES LIMITED S 5150 115.75
9/10/2009 530075 SELAN EXPLO* HITESH SHASHIKANT JHAVERI B 75598 327.62
9/10/2009 530075 SELAN EXPLO* HITESH SHASHIKANT JHAVERI S 71716 327.28
9/10/2009 526733 SUASHIS DIAM DUETSCHE ASSET MGMT A/C DWS MONEY PLUS ADVANTAGE FUND B 200000 351.09
9/10/2009 526733 SUASHIS DIAM K GIRDHARLAL INTERNATIONAL LTD S 118249 350.89
9/10/2009 506003 SUDAL INDUST PRADEEP KUMAR JAIN B 50000 53.51
9/10/2009 506003 SUDAL INDUST HITESH SHASHIKANT JHAVERI B 61740 52.55
9/10/2009 506003 SUDAL INDUST SOHINI DILIP BASTAWALA B 24045 53.58
9/10/2009 506003 SUDAL INDUST HITESH SHASHIKANT JHAVERI S 61744 53.59
9/10/2009 506003 SUDAL INDUST AJITH THARAKAN MATHEW KANJIRAM PARAMPIL S 30000 53.56
9/10/2009 590047 SUNDARAMMUL FAIRDEAL INFIN SERVICES PVT. LTD. B 416243 18.89
9/10/2009 590047 SUNDARAMMUL CITIGROUP GLOBAL MKTS. (M) PVT. LTD. B 4900000 18.75
9/10/2009 590047 SUNDARAMMUL INVENTURE FINANCE PVT LTD S 1060198 18.75
9/10/2009 590047 SUNDARAMMUL UPDATE MARKETINGS PRIVATE LIM S 393000 18.75
9/10/2009 590047 SUNDARAMMUL SIDDHAYU AYURVEDIC RESEARCH F S 542000 18.75
9/10/2009 590047 SUNDARAMMUL PRASIDH COMMERCIAL SERVICES P S 1325000 18.83
9/10/2009 590047 SUNDARAMMUL NOVA MARKETING PRIVATE LIMITE S 920000 18.75
9/10/2009 590047 SUNDARAMMUL MARKDATA ADVERTISING PRIVATE S 1000000 18.76
9/10/2009 590047 SUNDARAMMUL MAHALAXMI COMMERCIAL SERVICES S 410000 18.75
9/10/2009 509945 THACKER P.K.VAKIL(HUF) B 500 195.10
9/10/2009 509945 THACKER INDIRAKANTI LAL SHAH S 500 195.10
9/10/2009 531917 TWINSTA SO E RAJESHKUMAR RAMESHBHAI PATEL B 89000 3.23
9/10/2009 531917 TWINSTA SO E NAMITA STOCKTRADE PRIVATE LIMITED S 107000 3.23
9/10/2009 532477 UNION BANK MORGAN STANLEY INVESTMENT MANAGEMENT INC. S 2636624 244.81
9/10/2009 532478 UNITED BREW DEUTSCHE SECURITIES MAURITIUS LIMITED S 3000000 142.00
9/10/2009 519152 VADILAL ENTE VSL SECURITIES PVT LTD B 6000 88.90
9/10/2009 519152 VADILAL ENTE CHAMPAKLAL MANSUKHLAL GANDHI S 5407 89.07
9/10/2009 530961 VIKAS GLO MOONLITE PETRO PRODUCTS PRIVATE LIMITED B 23154 22.95
9/10/2009 530961 VIKAS GLO USHA JAIN S 23030 22.95
9/10/2009 507880 VIP INDUSTRIES LTD. (BSE INDON HITESH SHASHIKANT JHAVERI B 167810 150.78
9/10/2009 507880 VIP INDUSTRIES LTD. (BSE INDON HITESH SHASHIKANT JHAVERI S 167816 150.53
9/10/2009 511147 WALL STREE F RAJASTHAN GLOBAL SEC LTD B 85872 57.22
9/10/2009 511147 WALL STREE F TAIB BANK A/C TSML B 125000 57.87
9/10/2009 522108 YUKEN INDIA NIRMAL INVESTMENTS B 15331 80.69
9/10/2009 522108 YUKEN INDIA EQUITY INTELLIGENCE INDIA PRIVATE LIMITED S 15000 80.70
NSE Bulk Deals to Watch - Oct 9 2009
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
09-OCT-2009,ALKALI,Alkali Metals Limited,MBL & COMPANY LTD.,BUY,55079,209.35,-
09-OCT-2009,EVERONN,Everonn Education Limited,MBL & COMPANY LTD.,BUY,95838,439.59,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,DINESH MUNJAL(HUF),BUY,88043,123.57,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,NIKON FINLEASE PVT. LTD,BUY,75834,123.77,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,OM INVESTMENTS,BUY,131452,122.46,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,TRANSGLOBAL SECURITIES LTD.,BUY,264122,120.64,-
09-OCT-2009,FIEMIND,Fiem Industries Limited,SUNEET LAL,BUY,73898,108.95,-
09-OCT-2009,GLORY,Glory Polyfilms Limited,PUNEET SECURITIES PVT. LTD.,BUY,89098,27.51,-
09-OCT-2009,HGSL,Hinduja Global Sols Ltd,HINDUJA VENTURES LIMITED,BUY,200000,479.50,-
09-OCT-2009,HTMEDIA,HT Media Limited,RELIANCE MUTUAL FUND,BUY,2786000,117.00,-
09-OCT-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,9373753,23.08,-
09-OCT-2009,NOVAPETRO,Nova Petrochem Limited,VEDPRAKASH DEVKINANDAN CHIRIPAL,BUY,500000,27.15,-
09-OCT-2009,NOVOPANIND,Novopan Industries Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,BUY,45103,49.94,-
09-OCT-2009,PIPAVAVYD,Pipavav Shipyard Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,3770317,57.35,-
09-OCT-2009,SELAN,Selan Exploration Technol,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,91768,321.78,-
09-OCT-2009,SELAN,Selan Exploration Technol,JMP SECURITIES PVT LTD,BUY,88501,327.00,-
09-OCT-2009,TELEDATAIT,Teledata Technology Solut,ANGEL INFIN PRIVATE LIMITED,BUY,904069,4.78,-
09-OCT-2009,UBHOLDINGS,United Breweries (Holding,PLATINIUM INVESTMENT MGMT LTD A/C PLATINUM INTERNATIONAL FUN,BUY,1624000,217.00,-
09-OCT-2009,VIVIMEDLAB,Vivimed Labs Limited,INDIA EQUITY GROWTH FUND LIMITED,BUY,54732,103.70,-
09-OCT-2009,XLTELENE,XL Telecom & Energy Ltd,ANGEL INFIN PRIVATE LIMITED,BUY,132095,46.05,-
09-OCT-2009,ALKALI,Alkali Metals Limited,MBL & COMPANY LTD.,SELL,55079,209.41,-
09-OCT-2009,EVERONN,Everonn Education Limited,MBL & COMPANY LTD.,SELL,95838,439.27,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,DINESH MUNJAL(HUF),SELL,88043,123.49,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,NIKON FINLEASE PVT. LTD,SELL,75834,123.77,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,OM INVESTMENTS,SELL,131452,122.53,-
09-OCT-2009,FCSSOFT,FCS Software Solutions Li,TRANSGLOBAL SECURITIES LTD.,SELL,263755,120.84,-
09-OCT-2009,FIEMIND,Fiem Industries Limited,SUNEET LAL,SELL,73898,108.53,-
09-OCT-2009,GLORY,Glory Polyfilms Limited,HANURANG VINIMAY PVT. LTD,SELL,193004,26.29,-
09-OCT-2009,GLORY,Glory Polyfilms Limited,PUNEET SECURITIES PVT. LTD.,SELL,88898,27.46,-
09-OCT-2009,GLORY,Glory Polyfilms Limited,ROSY DEAL COMM PVT. LTD.,SELL,110000,27.16,-
09-OCT-2009,HGSL,Hinduja Global Sols Ltd,INVEST INDIA MAURITIUS LIMITED,SELL,200000,479.50,-
09-OCT-2009,HTMEDIA,HT Media Limited,SANDSTONE CAPITAL INDIA MASTER FUND LIMITED ,SELL,3068376,117.02,-
09-OCT-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,9392129,23.12,-
09-OCT-2009,NOVAPETRO,Nova Petrochem Limited,CHIRIPAL INDUSTRIES LIMITED,SELL,500000,27.15,-
09-OCT-2009,NOVOPANIND,Novopan Industries Ltd,DYNAMIC STOCK BROKING (I) PRIVATE LIMITED,SELL,62198,49.45,-
09-OCT-2009,PIPAVAVYD,Pipavav Shipyard Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,3770317,57.38,-
09-OCT-2009,PVP,PVP Ventures Limited,PVP MALAXMI ENERGY VENTURES PRIVATE LIMITED,SELL,2550000,47.67,-
09-OCT-2009,SELAN,Selan Exploration Technol,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,87771,322.70,-
09-OCT-2009,SELAN,Selan Exploration Technol,JMP SECURITIES PVT LTD,SELL,83501,326.99,-
09-OCT-2009,TELEDATAIT,Teledata Technology Solut,ANGEL INFIN PRIVATE LIMITED,SELL,700677,4.77,-
09-OCT-2009,UBHOLDINGS,United Breweries (Holding,CROWN CAPITAL LIMITED,SELL,775969,217.03,-
09-OCT-2009,UBHOLDINGS,United Breweries (Holding,DEUTSCHE SECURITIES MAURITIUS LIMITED,SELL,1424031,217.00,-
09-OCT-2009,XLTELENE,XL Telecom & Energy Ltd,ANGEL INFIN PRIVATE LIMITED,SELL,97448,45.58,-
Post Session Commentary - Oct 9 2009
Extending losses to more than 1%, the domestic market ended below the yesterday’s close tracking fall in European markets. Market extended losses also on fall in US index futures. In addition, investors booked profit in several frontline stocks since morning. IT stocks extended losses after IT bellwether Infosys said strengthening rupee was a big concern for its earnings. Meanwhile, Finance Minister Pranab Mukherjee today said that proposed direct tax law would be implemented in 2011. The new direct tax law is likely to slash the corporate tax rate to 25%, phase out exemptions and make things easier for rules on mergers. BSE Sensex ended below 16,700 level and NSE Nifty closed below 5,000 level.
Market opened higher backed by better than expected Infosys result, higher Asian market and strong trade in the US market overnight. On Thursday, the US stock market closed higher, as jobless claims fell and Alcoa kicked off the earnings season with better-than-expected revenue. Besides, continued weakness in US dollar also motivated the sentiments. However, Indian stocks lost momentum soon after start and turned volatile. Further, market was continual to extend losses and touched the day’s low. Benchmark indices dipped sharply during last trading hours on account of all round selling. From the sectoral front, Auto, Bank, Capital Goods, Power, IT and Metal stocks witnessed most of the selling from these baskets. BSE Midcap and Smallcap stocks also followed the same trend. However, Consumer Durable stocks were able to gain favour from the market.
Among the Sensex pack 26 stocks ended in red territory and 4 in green territory. The market breadth indicating the overall health of the market remained negative as 1792 stocks closed in red while 968 stocks closed in green and 71 stocks remained unchanged in BSE.
The BSE Sensex closed lower by 200.88 points or (1.19%) at 16,642.66 and NSE Nifty ended down by 57.05 points or (1.14%) at 4,945.20. BSE Mid Caps and Small Caps closed with loses 43.53 and 50.93 points at 6,301.38 and 7,371.79 respectively. The BSE Sensex touched intraday high of 16,963.08 and intraday low of 16,606.95.
Losers from the BSE Sensex pack are Tata Motors (6.66%), Sterlite Industries (3.35%), Reliance Infra (2.91%), Grasim Industries (2.55%), M&M Ltd (2.39%), Maruti Suzuki (2.37%), SBI (2.32%), JP Associates (2.32%), ICICI Bank (2.29%), Wipro Ltd (2.17%), BHEL (2.15%), TCS Ltd (1.98%), HDFC (1.54%) and Infosys Tech (1.49%).
Gainers from the BSE Sensex pack are Bharti Airtel (2.54%), ONGC Ltd (1.40%), RCom (1.24%) and HUL (0.09%).
On the global markets front, the Asian markets that opened before the Indian market, ended higher on the back of investor’s optimism about global economy. Shanghai Composite, Hang Seng, Nikkei 225, Singapore''s Straits and Seoul Composite ended higher by 132.29, 6.54, 183.92, 1.56 and 31.33 points at 2,911.72, 21,4999.44, 10,016.39, 2,652.51 and 1,646.79 respectively.
European markets, which opened after the Indian market, are trading in red. In Paris the CAC 40 is lower 4.39 points at 3,802.42, in Frankfurt DAX index is trading down 8.81 points at 5,707.73 and in London FTSE 100 is trading lower by 3.68 points at 5,150.96.
The BSE Auto index ended lower by (1.72%) or 113.15 points at 6,450.01 on profit taking. Main losers are Tata Motors (6.66%), Ashok Leyland (2.77%), Amtek Auto (2.47%), M&M Ltd (2.39%) and Maruti Suzuki (2.37%).
The BSE Bank index decreased by (1.60%) or 158.65 points at 9,771.71. Losers are Federal Bank (3.66%), Punjab National Bank (3.07%), SBI (2.32%), ICICI Bank (2.29%) and Axis Bank (1.62%).
The BSE IT index closed lower by (1.43%) or 62.19 points at 4,276.81. Losers are Patni Computer (4.76%), Rolta Ind (2.93%), Financ Tech (2.81%), Aptech Ltd (2.18%) and Wipro Ltd (2.17%).
The BSE Power index ended down by (1.43%) or 44.78 points at 3,082.39, as ABB Ltd (2.92%), Reliance Infra (2.91%), Lanco Infra (2.61%), Siemens Ltd (2.54%) and GVK Power (2.22%) ended in red.
The BSE Capital Goods index dropped by (1.42%) or 197.56 points at 13,687.81. Losers are Reliance Industrial Infra (3.64%), Bharat Elect (3.02%), ABB Ltd (2.92%), Punj Lloyd (2.55%) and Siemens Ltd (2.54%).
The BSE Consumer Durables index gained (0.35%) or 12.84 points 3,670.87. Gainers are Titan Ind (3.41%) and Blue Star L (1.90%). Losers are Videocon Ind (4.54%), Gitanjali GE (2.05%) and Rajesh Export (0.38%).
Infosys Technologies ended lower by 1.49%. Net profit of the company increased by 7.5% to Rs 1,540 crore for the quarter ended September 2009, on y-o-y basis. Besides, as compared to June 2009 quarter, its revenue grew by 2.1% and net profit went up by under 1%. Infosys posted a net profit after tax of Rs 1,438 crore for the quarter ended September 30, 2009 as compared to Rs 1,390 crore for the quarter ended September 30, 2008. Total Income has increased from Rs 5,143 crore for the quarter ended September 30, 2008 to Rs 5,433 crore for the quarter ended September 30, 2009.
Tata Motors Ltd slipped 6.66% on equity dilution worries after the company said it will raise long-term capital of upto $ 600 million through global depositary receipts and convertible notes issue.
Mastek Ltd shrunk 7.44% after consolidated net profit declined 25.12% to Rs. 26.41 crore in Q1 September 2009 over Q4 June 2009.
MTNL climbed 0.12% on reports the company is keen on acquiring a majority stake in Zambia''s Zamtel and has signed a non-disclosure pact with the company.
Siemens Ltd lost 2.54% after a consortium of the company secured an overseas order worth Rs 403 crore.
SRF Ltd lost 1.12% on reports the company plans to invest about Rs. 1,000 crore on a new factory to make fluorine-based products for export markets.
ICICI Bank decreased by 2.29%. The bank reduced the auto loan rates by 50 basis points and will now cost 10.75% to 11%.
SBI closed lower by 2.32%. The government has agreed for an in-principle approval to State Bank of India (SBI) and State Bank of Indore’s merger, on Thursday a senior finance ministry
Nifty October 2009 futures at discount
Turnover declines
Nifty October 2009 futures were at 4,931, at a discount of 14.20 points as compared to the spot closing of 4,945.20. Turnover in NSE's futures & options (F&O) segment was Rs 63,622.53 crore, lower than Rs 69,732.16 crore on Thursday, 8 October 2009.
Tata Motors October 2009 futures were at discount at 528.50 compared to the spot closing of 542.
Reliance Industries October 2009 futures were at discount at 2,089.40 compared to the spot closing of 2,097.
Infosys Technologies October 2009 futures were at discount at 2,176 compared to the spot closing of 2,181.05.
In the cash market, the S&P CNX Nifty fell 57.05 points or 1.14% at 4,945.20.
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