SGX Nifty Live Update - Feb 4 2010

4,898.00 -24.00

Aqua Logistics IPO ends with 1.94 times subscription

Non-institutional investors' category sees high demand

The initial public offer (IPO) of Aqua Logistics ended on 2 February 2010 with 1.94 times subscription, NSE data showed. The IPO garnered bids for 1.45 crore shares as against 75 lakh shares on offer.

Category wise, the portion reserved for non-institutional investors' was subscribed 5.06 times while retail individual investors portion was subscribed 3 times. However quota reserved for qualified institutional buyers was subscribed just 0.25 times, getting bids for 9.68 lakh shares as against 37.50 lakh shares reserved for them.

The company had on 28 January 2010 extended the IPO closure date to 2 February 2010 as against an original scheduled closure on 28 January 2010. The IPO of the supply chain firm Aqua Logistics had opened for subscription on 25 January 2010.

Aqua Logistics had also reduced the price band following tepid response from investors. The company cut the price band to Rs 200- 225 per share from Rs 220-230 per share earlier. The company will also give a discount of Rs 5 per share to the issue price to retail investors.

The Mumbai-based firm plans to use the IPO proceeds for purchasing specialised equipment, expansion & establishment of offices as well as for proposed acquisitions. Aqua Logistics is a supply-chain firm, with domain expertise in pharma, automotives, power, retail, heavy engineering, telecom and sports and events.

D B Realty IPO ends with 2.95 times subscription

Gets bids for 7.82 crore shares as compared with 2.64 crore shares on offer

Realty firm D B Realty's initial public offering (IPO) was subscribed 2.95 times and got bids for 7.82 crore shares, NSE data showed. The IPO remained open for bidding between 29 January 2010 and 2 February 2010. The price band or the IPO was set at Rs 468-486 per share.

Category wise, the qualified institutional buyers portion was subscribed 4.46 times and non institutional investors by 4.24 times. However retail category remain undersubscribed. Retail individual investors put in bids for 35.17 lakh shares as against 96.15 lakh shares reserved for them.

The Mumbai-based company had already received bids for Rs 270 crore towards the anchor investor portion of the IPO. The anchor investors to whom equity shares have been allocated pursuant to the offer include Janus, India Capital Fund, Prudential ICICI Life Insurance, Reliance Capital and India Equity Growth Fund.

The company plans to use the funds to build more homes and offices mainly in western India and to repay debt.

D B Realty focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment in and around Mumbai.

Crude pares early gains

Prices end lower as crude inventories rise more than expected

Crude oil prices ended lower on Wednesday, 03 February 2010. Prices fell as crude inventories rose more than expected. Earlier during the day, upbeat economic reports had pushed crude prices higher.

Strong economic reports generally tend to push crude prices higher on anticipation of higher demand in coming months. The strong dollar further pushed crude price lower today.

On Wednesday, crude-oil futures for light sweet crude for March delivery closed at $76.98/barrel (lower by $0.25 or 0.3%). Last week, crude ended lower by 2.4%. In January 2010, crude ended lower by 8.3%. On a year to date basis, crude is still lower by 4.3%.

The Energy Department in US reported on Wednesday, 03 February 2010 crude oil inventories rose by 2.3 million barrels in the week ended 29 January 2010. Market was expecting a decline of 1 million barrels in crude stocks.

In the weekly inventory report, the EIA also said inventories of distillate, which includes heating oil, fell by 948,000 barrels, while gasoline stocks fell by 1.3 million barrels. Market was expecting a buildup of 1.5 million barrels in gasoline stocks. The report also stated that refinery utilization fell to 77.7%, while it was expected to rise 0.25% to 78.75%.

Among economic data expected for the day, The Institute for Supply Management reported on Wednesday, 03 February 2010 that the service sector of the US economy moved back into growth territory in January 2010. The ISM nonmanufacturing index rose to 50.5% from 49.8% in December against an expected figure of 51.

Readings above 50% in the diffusion index indicate that activity at more firms is expanding than contracting. The index had been above 50% for two months in the fall but then slipped under that threshold in November and December. Only four industries reported growth, while 11 reported contraction.

A private sector job report also showed that US economy had shed the least number of jobs in January 2010 since the recession hit in 2007.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 0.5%.

Among other energy products on Wednesday, March reformulated gasoline rose 3 cents to $2.04 a gallon and March heating oil was down 1 cent at $2.02 a gallon.

Also on Wednesday, March natural-gas futures fell 3 cents to $5.42 per million British thermal units. The EIA on Thursday will release its estimate of natural gas in storage in the latest week.

Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 53.5% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.

At the MCX, crude oil for February delivery closed Rs 19 (0.53%) higher at Rs 3,573/barrel. Natural gas for February delivery closed higher by Rs 0.5 (0.12%) at Rs 254/mmbtu.

Bullion metals turn pale

Strong dollar takes away shine from precious metals

After two consecutive days of rise, precious metal prices shed some of their glaze on Wednesday, 03 February 2010. Prices fell, as economic report for the day that checked were upbeat in nature thereby strengthening the dollar.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.

On Wednesday, gold for April delivery ended at $1,112 an ounce, lower by $6 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold lost 0.6%. For January 2010, gold lost 1.2%. Year to date, gold has gained 1.4%.

On Wednesday, March Comex silver futures ended lower by 42 cents (2.5%) at $16.32 an ounce. Last week, silver ended lower by 4.3%. In January 2010, silver shed 3.9%. Year to date in FY 2010, silver has dropped by almost 3%.

Among economic data expected for the day, The Institute for Supply Management reported on Wednesday, 03 February 2010 that the service sector of the US economy moved back into growth territory in January 2010. The ISM nonmanufacturing index rose to 50.5% from 49.8% in December against an expected figure of 51.

Readings above 50% in the diffusion index indicate that activity at more firms is expanding than contracting. The index had been above 50% for two months in the fall but then slipped under that threshold in November and December. Only four industries reported growth, while 11 reported contraction.

A private sector report also showed that private firms in US shed the least number of jobs in January 2010 since the recession hit in 2007.

In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies rose by almost 0.5%.

Precious metal prices slipped last week due to impending worries from China front where tightening monetary policies are bothering investors due to shaky demand of metals in coming months.

Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.

Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end. Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.

At the MCX, gold prices for April delivery closed lower by Rs 107 (0.63%) at Rs 16,647 per ten grams. Prices rose to a high of Rs 16,815 per 10 grams and fell to a low of Rs 16,601 per 10 grams during the day's trading.

At the MCX, silver prices for March delivery closed Rs 520 (1.99%) lower at Rs 25,541/Kg. Prices opened at Rs 26,080/kg and fell to a low of Rs 25,460/Kg during the day's trading.

Oil India

Oil India

Investment Ideas

Investment Ideas

Daily Newsletter - Feb 4 2010

Daily Newsletter - Feb 4 2010

Punj LLoyd

Punj LLoyd

Nifty February 2010 futures at discount

Turnover drops

Nifty February 2010 futures were at 4,921.05, at a discount of 10.80 points as compared to the spot closing of 4,931.85. Turnover in NSE's futures & options (F&O) segment was Rs 78,755.97 crore, lower than Rs 79,683.06 crore on Tuesday, 2 February 2010.

State Bank of India February 2010 futures were at discount at 1992.20 compared to the spot closing of 1995.50.

Tata Motors February 2010 futures were at discount at 717.90 compared to the spot closing of 721.

JSW Steel February 2010 futures were at premium at 1059.80 compared to the spot closing of 1056.05.

In the cash market, the S&P CNX Nifty surged 101.75 points or 2.11% at 4,931.85.

BSE Bulk Deals to Watch - Feb 3 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/2/2010 530901 ACIL Cot Inds NILESH KRUSHNA PALANDE B 62747 14.35
3/2/2010 530901 ACIL Cot Inds INTERNATIONAL TRANSMISSION PRODUCTS PVT LTD B 75000 14.30
3/2/2010 530901 ACIL Cot Inds SHREE HARIVANSH SEC PVT LTD S 137000 14.14
3/2/2010 530901 ACIL Cot Inds SREE RAM PLYWOOD MANUFACTURING COMPANY PRIVATE LIMITED S 150000 14.32
3/2/2010 530901 ACIL Cot Inds HOOGHLY MILLS PROJECTS LTD S 100000 14.31
3/2/2010 511706 Action Fin FORTUNE INVESTMENT TRADING A/C S 50000 20.00
3/2/2010 530375 Ancent Soft KEEN INVESTMENT AND LEASING LIMITED B 50001 3.97
3/2/2010 533138 ASTEC RKSV SECURITIES INDIA PVT LIMITED B 155373 75.37
3/2/2010 533138 ASTEC VASANTI SHARE BROKAERS LTD B 220055 69.16
3/2/2010 533138 ASTEC REGENT FINANCE CORPORATION PVT. LTD. B 200113 69.91
3/2/2010 533138 ASTEC TRANSGLOBAL SECURITIES LTD. B 125646 76.17
3/2/2010 533138 ASTEC REGENT FINANCE CORPORATION PVT. LTD. S 200113 69.24
3/2/2010 533138 ASTEC TRANSGLOBAL SECURITIES LTD. S 124146 76.01
3/2/2010 533138 ASTEC PRASANN SHARES & SERVICES PRIVATE LIMITED S 187000 71.62
3/2/2010 533138 ASTEC PARSVANATH FINCON PRIVATE LIMITED S 233834 72.30
3/2/2010 533138 ASTEC RKSV SECURITIES INDIA PVT LIMITED S 155373 75.23
3/2/2010 533138 ASTEC VASANTI SHARE BROKAERS LTD S 220055 68.90
3/2/2010 512149 Avance Tech JIGNESH CHANDRAKANT SHAH S 1316949 4.79
3/2/2010 505506 Axon Infotech RAMESH MALPANI B 5000 26.45
3/2/2010 505506 Axon Infotech ABSOLUTE LEASING & FINANCE PVT LTD S 13664 26.45
3/2/2010 511607 Birla Shloka DEVKANT SYNTHETICS INDIA PVT. B 243677 53.33
3/2/2010 511607 Birla Shloka AAP INVESTMENTS S 100000 53.45
3/2/2010 531337 Channel Guide HEMANT RAJENDRABHAI SHAH B 50000 18.02
3/2/2010 531337 Channel Guide RAJENDRA SHARAD KARNIK S 60000 18.01
3/2/2010 533026 Chemcel Bio REKHA BHANDARI B 303500 9.47
3/2/2010 533026 Chemcel Bio ASHU AGRAWAL S 145000 9.29
3/2/2010 522231 Conart Engr BDS SHARE BROKERS PVT LTD B 19984 34.42
3/2/2010 522231 Conart Engr BDS SHARE BROKERS PVT LTD S 19984 34.64
3/2/2010 511668 Fact Enterprise BDS SHARE BROKERS PVT LTD B 26733 18.91
3/2/2010 511668 Fact Enterprise BDS SHARE BROKERS PVT LTD S 30033 19.22
3/2/2010 532631 Fame India INOX LEISURE LIMITED B 15057751 44.00
3/2/2010 532631 Fame India RELIANCE CAPITAL PARTNERS B 503685 44.45
3/2/2010 532631 Fame India SPS CAPITAL & MONEY MANAGEMENT SERVICES PVT LTD S 381596 44.81
3/2/2010 532631 Fame India SOUTH YARRA HOLDINGS S 15057751 44.00
3/2/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. B 34555 68.23
3/2/2010 590024 Fert & Chem Trv BHARAT SECURITIES PVT LTD B 52619 67.52
3/2/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 91445 68.04
3/2/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 91445 67.96
3/2/2010 590024 Fert & Chem Trv BHARAT SECURITIES PVT LTD S 52619 67.59
3/2/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. S 34555 68.25
3/2/2010 514167 Ganesh Poly SABANA MASARIYA B 50000 40.38
3/2/2010 531439 Goldstone Tech BP FINTRADE PRIVATE LIMITED B 97600 42.01
3/2/2010 531439 Goldstone Tech SETU SECURITIES PVT LTD B 114545 43.72
3/2/2010 531439 Goldstone Tech SETU SECURITIES PVT LTD S 113740 43.05
3/2/2010 531439 Goldstone Tech BP FINTRADE PRIVATE LIMITED S 97405 42.91
3/2/2010 513059 GS Auto SABANA MAHEBOOBALI ASARIYA B 100000 45.00
3/2/2010 513059 GS Auto SHIVALIK SECURITIES LTD S 122000 45.04
3/2/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL COPORATION LLP B 135000 68.20
3/2/2010 532658 Indo Asian Fuse VPM INDUSTRIAL CORPORATION LLP S 135000 68.20
3/2/2010 533154 INFINITE SMART EQUITY BROKERS PRIVATE LIMITED B 783721 197.27
3/2/2010 533154 INFINITE GENUINE STOCK BROKERS PVT. LTD. B 1060141 196.09
3/2/2010 533154 INFINITE MATRIX EQUITRADE PRIVATE LIMITED LIMITED B 290003 197.03
3/2/2010 533154 INFINITE T ROWE PRICE INTL- INTL DISCOVERY FUND B 783000 197.40
3/2/2010 533154 INFINITE JMP SECURITIES PVT LTD B 324379 195.06
3/2/2010 533154 INFINITE EUREKA STOCK & SHARE BROKING SERVICES LTD B 270473 198.22
3/2/2010 533154 INFINITE OPG SECURITIES P LTD B 1183024 196.91
3/2/2010 533154 INFINITE EUREKA STOCK & SHARE BROKING SERVICES LTD S 270473 197.90
3/2/2010 533154 INFINITE OPG SECURITIES P LTD S 1183024 196.93
3/2/2010 533154 INFINITE MATRIX EQUITRADE PRIVATE LIMITED LIMITED S 290003 196.50
3/2/2010 533154 INFINITE GENUINE STOCK BROKERS PVT. LTD. S 1060141 196.25
3/2/2010 533154 INFINITE SMART EQUITY BROKERS PRIVATE LIMITED S 783721 197.27
3/2/2010 523467 Jai Mata Glass NARESH GUPTA B 78674 3.19
3/2/2010 523467 Jai Mata Glass ANSHU KAROL B 75000 3.18
3/2/2010 523467 Jai Mata Glass SHRENIK SHANKAR SABOO B 85000 3.15
3/2/2010 523467 Jai Mata Glass HITESH SHASHIKANT JHAVERI B 150000 3.21
3/2/2010 523467 Jai Mata Glass PRAKASH K SHAH SHARES & SECURITIES PVT LTD B 118676 3.21
3/2/2010 523467 Jai Mata Glass HITESH SHASHIKANT JHAVERI S 66236 3.20
3/2/2010 523467 Jai Mata Glass NARESH GUPTA S 78674 3.17
3/2/2010 511131 Kamanwala Hous NISHA SUMANJAIN B 120504 62.00
3/2/2010 511131 Kamanwala Hous MOUNTEVEREST TRADING AND INVESTM S 124393 61.77
3/2/2010 530255 KAY Power KAUSHALYA GARG S 60200 14.34
3/2/2010 531496 Omkar Overseas ABHAY DATTATRAY JAVLEKAR B 55000 48.66
3/2/2010 531496 Omkar Overseas JHAVERI TRADING AND B 50000 48.25
3/2/2010 531496 Omkar Overseas PRASHANT SHANKARLAL AGARWAL S 50000 48.25
3/2/2010 531496 Omkar Overseas BHANUPRIYABEN D LODHA S 25150 47.35
3/2/2010 531496 Omkar Overseas NAYANBHAI RAMESHCHANDRA SHAH S 91000 48.68
3/2/2010 511702 Parsharti Inv KRUPA SANJAY SONI B 27776 35.56
3/2/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED B 23653 36.02
3/2/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED S 23653 35.86
3/2/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 27722 35.67
3/2/2010 526747 PG Foils KISHAN MOHTA B 50000 45.15
3/2/2010 526747 PG Foils GINNI FINANCE PVT. LTD. S 50000 45.15
3/2/2010 531855 Prabhav Inds SURESH KARSAN SATRA B 45000 40.85
3/2/2010 531855 Prabhav Inds KAVIT INVESTMENT PVT LTD S 40600 40.85
3/2/2010 531855 Prabhav Inds PUSHPA RAMESH SHAH S 50000 40.85
3/2/2010 503873 Priyadarshini Spn PRADEEP KR AGGARWAL B 56096 19.17
3/2/2010 509839 Punjab Wool ANITA MANOJ JAIN B 61301 5.48
3/2/2010 531273 Radhe Dev KRUSHNAKUMAR RAMSUNDAR TIWARI S 1355110 4.45
3/2/2010 523523 Rainbow Papers PARESH NAVNITLAL BHAGAT B 55100 116.92
3/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 48326 33.83
3/2/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 39650 33.80
3/2/2010 590077 Ranklin Sol SATISH MORTHA S 26800 54.95
3/2/2010 530271 Rich Capital SCOPE VYAPAR PRIVATE LIMITED B 49500 57.73
3/2/2010 532793 Shree Ashtavina TRANSGLOBAL SECURITIES LTD. B 870727 26.28
3/2/2010 532793 Shree Ashtavina TRANSGLOBAL SECURITIES LTD. S 870727 26.33
3/2/2010 512413 Spectacle Inds VIVEK KISHANPAL SAMANT B 320200 84.91
3/2/2010 512413 Spectacle Inds BHARAT G VAGHELA S 259847 85.06
3/2/2010 590047 Sunderam Multi REGENCY TRUST LIMITED B 400000 43.34
3/2/2010 590047 Sunderam Multi STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND S 392546 43.35
3/2/2010 514138 Suryalata Spin SUDINI MADHURI B 40979 90.80
3/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 73298 480.41
3/2/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 73298 481.17
3/2/2010 532384 Tyche Inds SAROJ PODDAR B 50000 18.30
3/2/2010 532384 Tyche Inds LALITKUMAR PODDAR S 50000 18.30
3/2/2010 531574 VAS Infra SHRADHA TRADELINKS P. LTD B 242210 31.70
3/2/2010 531574 VAS Infra PUSHPABEN BABULAL SHAH S 69454 31.70
3/2/2010 531950 Vertex Sec EMERGING STAR INV PVT LTD S 28231 23.10
3/2/2010 530961 Vikas Globalone MOONLITE PETRO PRODUCTS PRIVATE LIMITED B 142423 30.40
3/2/2010 530961 Vikas Globalone VIKAS PORTFOLIO PVT. LTD. S 52350 30.40
3/2/2010 530961 Vikas Globalone VINODKUMAR GARG&SONS HUF S 46660 30.40
3/2/2010 532411 Visesh Info SEEMA AGGARWAL S 213963 7.66
3/2/2010 531668 Vision Corp JAGDISH RAMNIKLAL SHETH B 152213 8.18
3/2/2010 531249 Well Pack Papers NIOL IMPEX PRIVATE LIMITED B 25300 422.80
3/2/2010 531249 Well Pack Papers RAMESHBHAI V PARMAR B 23900 423.72
3/2/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 36373 423.01
3/2/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE B 27000 422.07
3/2/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 51277 422.95
3/2/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 36505 422.26
3/2/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR S 38583 422.75
3/2/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 23110 421.76
3/2/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 23980 422.80
3/2/2010 531249 Well Pack Papers SHREEDHAR YELLAIAH KODAM S 27350 422.01
3/2/2010 531249 Well Pack Papers RAMESHBHAI V PARMAR S 25962 422.48
3/2/2010 506720 Zandu Pharma A K G STOCK BROKERS PRIVATE LIMITED B 4470 5147.59
3/2/2010 506720 Zandu Pharma RKSV SECURITIES INDIA PVT LIMITED B 4485 5234.86
3/2/2010 506720 Zandu Pharma MARWADI SHARES AND FINANCE LTD. B 6807 4874.20
3/2/2010 506720 Zandu Pharma OPG SECURITIES P LTD B 4824 5039.35
3/2/2010 506720 Zandu Pharma OPG SECURITIES P LTD S 4824 5046.15
3/2/2010 506720 Zandu Pharma RKSV SECURITIES INDIA PVT LIMITED S 4485 5204.89
3/2/2010 506720 Zandu Pharma A K G STOCK BROKERS PRIVATE LIMITED S 4470 5141.25
3/2/2010 506720 Zandu Pharma EMAMI INFRASTRUCTURE LTD S 21500 4819.19
3/2/2010 506720 Zandu Pharma MARWADI SHARES AND FINANCE LTD. S 6807 4872.54
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Feb 3 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,CPR CAPITAL SERVICES LTD.,BUY,210384,69.54,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,REGENT FINANCE CORPORATION PVT. LTD.,BUY,408713,68.60,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,BUY,123620,76.58,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,VASANTI SHARE BROKERS LIMITED,BUY,189644,69.58,-
03-FEB-2010,BHARTISHIP,Bharati Shipyard Limited,MBL & COMPANY LTD.,BUY,162953,331.36,-
03-FEB-2010,FAME,Fame India Limited,RELIANCE CAPITAL PARTNERS,BUY,435128,44.77,-
03-FEB-2010,GOLDTECH,Goldstone Tech Ltd.,SETU SECURITIES LTD,BUY,124114,43.20,-
03-FEB-2010,HYDRBADIND,Hyderabad Industries Ltd,CENTRAL INDIA INDUSTRIES LTD,BUY,122188,593.60,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,241662,198.27,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,BP FINTRADE PRIVATE LIMITED,BUY,300825,198.71,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,DINESH MUNJAL(HUF),BUY,310408,199.21,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,GENUINE STOCK BROKERS PVT LTD,BUY,1001142,195.80,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,INDIA ADVANTAGE SECURITIES LTD.,BUY,302675,197.67,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,BUY,423410,195.40,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,MANIPUT INVESTMENTS PVT. LTD.,BUY,625136,196.67,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,285127,194.43,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,OM INVESTMENTS,BUY,268756,197.22,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,R.M. SHARE TRADING PVT LTD,BUY,229958,195.27,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,SANDEEP JAIN (HUF),BUY,325259,197.63,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,T.ROWE PRICE INTERNATIONAL -INTERNATIONAL DISCOVERY FUND,BUY,1059935,196.87,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,TRIPTI SINGHVI,BUY,263412,196.00,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,PALLAVI VORA,BUY,229080,181.67,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,SHRADDHA NILESH MEHTA,BUY,223895,181.07,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,ULTIMA FINVEST Ltd.,BUY,12502,172.61,-
03-FEB-2010,KSERAPRO,K Sera Sera Productions L,BASMATI SECURITIES PVT LTD,BUY,1823111,14.04,-
03-FEB-2010,KSERAPRO,K Sera Sera Productions L,SUSHMA KAPUR (PROP. SHIVAM INVESTMENT),BUY,65368,13.94,-
03-FEB-2010,QUINTEGRA,Quintegra Solutions Ltd,JUDITH INVESTMENT PRIVATE LIMITED,BUY,600000,13.05,-
03-FEB-2010,QUINTEGRA,Quintegra Solutions Ltd,SETU SECURITIES LTD,BUY,513003,13.05,-
03-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,BUY,1043043,25.78,-
03-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANSGLOBAL SECURITIES LTD.,BUY,808809,26.40,-
03-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,83823,480.84,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,4639,5126.06,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,M/S RUKHMANI TRADERS,BUY,5676,5049.99,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,MARWADI SHARES AND FINANCE LIMITED,BUY,9092,4848.86,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,VIJETA BROKING INDIA PRIVATE LIMITED,BUY,4402,4907.52,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,AANGI SHARES & SERVICES PVT. LTD,SELL,221480,71.71,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,BHAKTISURI SHARES AND SERVICES,SELL,241000,69.36,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,BLUE SQUARE CORPORATE SERVICES PVT LTD,SELL,94000,69.03,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,CPR CAPITAL SERVICES LTD.,SELL,210384,69.53,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,PARSVANATH FINCON PRIVATE LIMITED,SELL,208864,72.75,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,PRASANN SHARES & SERVICES PRIVATE LIMITED,SELL,246910,70.29,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,REGENT FINANCE CORPORATION PVT. LTD.,SELL,433713,69.43,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,SUBODHSAGAR SHARES & SERVICES PRIVATE LIMITED,SELL,102000,71.01,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,TRANSGLOBAL SECURITIES LTD.,SELL,123620,77.15,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,VASANTI SHARE BROKERS LIMITED,SELL,189644,69.86,-
03-FEB-2010,ASTEC,Astec LifeSciences Ltd,YAMINI SUPPLIERS PRIVATE LIMITED,SELL,100000,68.00,-
03-FEB-2010,AUSTRAL,Austral Coke & Projects L,SICOM LTD,SELL,1950000,7.76,-
03-FEB-2010,BHARTISHIP,Bharati Shipyard Limited,MBL & COMPANY LTD.,SELL,162953,331.40,-
03-FEB-2010,FAME,Fame India Limited,PRAMOD P SHAH,SELL,338876,44.86,-
03-FEB-2010,GOLDTECH,Goldstone Tech Ltd.,SETU SECURITIES LTD,SELL,124115,42.64,-
03-FEB-2010,HYDRBADIND,Hyderabad Industries Ltd,HINDUSTAN MOTORS LTD,SELL,122188,593.60,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,241662,198.92,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,BP FINTRADE PRIVATE LIMITED,SELL,298832,198.61,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,DINESH MUNJAL(HUF),SELL,310408,199.16,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,GENUINE STOCK BROKERS PVT LTD,SELL,1001142,195.82,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,INDIA ADVANTAGE SECURITIES LTD.,SELL,302675,198.03,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,KALASH SHARES & SECURITIES PRIVATE LIMITED,SELL,423410,195.49,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,MANIPUT INVESTMENTS PVT. LTD.,SELL,625136,196.57,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,285127,194.34,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,OM INVESTMENTS,SELL,268756,197.36,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,R.M. SHARE TRADING PVT LTD,SELL,229958,195.18,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,SANDEEP JAIN (HUF),SELL,325259,197.60,-
03-FEB-2010,INFINITE,Infinite Computer Sol Ltd,TRIPTI SINGHVI,SELL,262412,195.61,-
03-FEB-2010,INOXLEISUR,INOX Leisure Limited,RELIANCE CAPITAL LTD,SELL,310000,85.29,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,PALLAVI VORA,SELL,229080,181.50,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,SHRADDHA NILESH MEHTA,SELL,223895,181.63,-
03-FEB-2010,JKTYRE,JK Tyre & Industries Ltd,ULTIMA FINVEST Ltd.,SELL,212502,182.57,-
03-FEB-2010,KSERAPRO,K Sera Sera Productions L,BASMATI SECURITIES PVT LTD,SELL,469561,14.02,-
03-FEB-2010,KSERAPRO,K Sera Sera Productions L,SUSHMA KAPUR (PROP. SHIVAM INVESTMENT),SELL,1915368,14.11,-
03-FEB-2010,QUINTEGRA,Quintegra Solutions Ltd,SETU SECURITIES LTD,SELL,1,13.05,-
03-FEB-2010,QUINTEGRA,Quintegra Solutions Ltd,V RADHAKRISHNAN,SELL,1288449,13.05,-
03-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,SUMAN,SELL,993043,26.22,-
03-FEB-2010,SHREEASHTA,Shree Ashtavinayak Cine V,TRANSGLOBAL SECURITIES LTD.,SELL,801704,26.35,-
03-FEB-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,83823,480.66,-
03-FEB-2010,VISESHINFO,Visesh Infotecnics Limite,MRS. SEEMA AGGARWAL,SELL,200000,7.35,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,4639,5137.27,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,EMAMI INFRASTRUCTURE LIMITED,SELL,4870,5259.66,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,EMAMI INFRASTRUCTURE LIMITED,SELL,44000,4889.91,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,M/S RUKHMANI TRADERS,SELL,5676,5069.35,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,MARWADI SHARES AND FINANCE LIMITED,SELL,9092,4856.46,-
03-FEB-2010,ZANDUPHARM,Zandu Pharma works Ltd,VIJETA BROKING INDIA PRIVATE LIMITED,SELL,4402,4905.97,-

Bulls on U-turn

Today's major news

Bharat Electronics to get Rs4,279-crore contract from the Indian Air Force (IAF) for Akash missiles; the stock rises 2.74%

Wipro Consumer Care likely to buy Tura; the stock surges 2.65%

Infinite Computer Solutions lists at Rs178.35

Inox hits 52-week high on Fame India acquisition; the stock jumps 11.74%

Larsen & Toubro upbeat on winning second order in this week; the stock rises 3.80%

Click here for more stories

Post-market summary

Global signals

The European indices opened weak on the back of disappointing results by Electrolux and Roche. At the time of writing this report FTSE 100 was up 0.32%.

All the major Asian indices closed higher. Shanghai Composite closed above 3000 levels. SGX Nifty surged 101 points.

US stock futures opened marginally lower, as investors eagerly await data on Challenger job cuts, ADP Employment change, ISM services data and crude inventories data.

Indian indices

Bulls that were trounced badly yesterday were back with vengeance today. On the springboard of strong global cues and on hopes that the government may delay the withdrawal of stimulus package coupled with tremendous buying in index heavyweights, metal and realty stocks, the bulls drubbed the bears today. The Sensex that opened 47 points higher at 16210 (the day’s low) extended its gains as the session progressed to touch the day’s high of 16553. At closing bell, the Sensex closed at 16496, 333 points higher. Nifty closed at 4932, 102 points higher.

Market sentiment

The market breadth, the number of advancing shares to declining shares, was positive. Of the total 2,921 stocks traded on the BSE, 1,775 stocks advanced, whereas 1,046 stocks declined. Hundred stocks closed unchanged.

Sectoral & stock screening

With the bulls charging ahead all along the day, it was all green on sector indices fronts. The BSE Metal topped the chart with gains of 4.01% followed by the BSE Realty that gained 2.81% and the BSE CD surged 2.63%.

On stocks' front, JSW Steel surged the most—by 8.44%—followed by Reliance Natural Resources, which rose 7.95%, and Sterlite Industries that jumped 5.97%. On the losers’ list, Spice Communications topped with a loss of 5.84%, followed by Jain Irrigation, which slid 1.42%, and Marico, which fell 1.22%.

Viewing volumes

Reliance Natural Resources saw the highest trading with over 1.31 crore shares changing hands on the BSE followed by realty major Unitech (0.64 crore shares), industrial finance company IFCI (0.62 crore shares), Ispat Industries (0.52 crore shares) and Rashtriya Chemicals and Fertilisers (0.48 crore shares).

NTPC FPO Analysis - Review

Sound and stable

Solid long-term growth potential, but lackluster track record

NTPC, a public sector undertaking under the Ministry of Power, is the largest power generating company in India with an installed power generation capacity (including joint venture capacity) of about 30,644 MW end September 30, 2009. Of the owned power generation capacity of 28,350 MW, the share of coal-based thermal power plants is 86%, operated through 15 coal-based power stations. The balance 14% is gas-based, operated through seven gas-based power stations (including one naphtha-fired station). In fiscal ended March 2009 (FY 2009), the company contributed 28.6% of the total power generation of India.

Presently, NTPC is engaged in construction of projects representing 17,930 MW (including 4,000 MW undertaken by JV companies). It is also pursuing a basket of projects of approximately 33,000-MW capacity in various stages, including projects for which tenders have been invited, feasibility report (FR) prepared, or a FR is under preparation and approval, to achieve its stated goal of 75,000 MW capacity by FY 2017.

NTPC has embarked on diversifying its fuel mix. The company had 1,920-MW hydroelectric power projects under construction end September 30, 2009. About 552 MW is under bidding. It is also preparing FRs and detailed project reports for hydroelectric power projects to achieve hydroelectric capacity of approximately 9,000 MW by FY 2017. Similarly it is also seeking other renewable energy projects such as wind and solar to have 1,000-MW generating capacity from other renewable sources by FY 2017.

NTPC continues to diversify into areas such as coal mining, power trading and distribution to become an integrated power company. It has been awarded eight coal-mining blocks by the government of India including two blocks awarded for development under a JV with Coal India. In 2002, it incorporated NTPC Vidyut Vyapar Nigam, a power-trading subsidiary, which has grown to become the second largest power trader in the country. By leveraging its technical, operational skills and knowledge base, NTPC has developed a consulting business offering consulting services relating to capacity addition, operation, maintenance, renovation & modernization and performance improvement both in India and overseas. Total revenues from consulting business stood at Rs132.5 crore in FY 2009 compared with just Rs 34.1 crore in FY 2004. The company proposes and has initiated work for equipment manufacturing to ensure supply of critical equipment and spare parts, and an electricity distribution business.

To capitalize on the opportunity from sale of merchant power, NTPC is implementing 2,120-MW power projects as merchant power plants for selling power outside long-term power purchase agreements (PPAs) at market-based prices. As provided by the National Electricity Policy, 2005, up to 15% of new generating capacity may be sold outside long-term PPAs. However, some of the power generation from the company's merchant capacity may also be sold under PPAs.

The government of India, which owns 89.5% of the paid-up capital of the company, is divesting 5% of its stake through this follow-on offer.

Strengths

Has operational power generation capacity of over 30,644 MW. Is targeting a diversified power generation capacity 75,000 MW by FY 2017 at a CAGR of 13%. Has close to 17,930-MW capacity under construction including 4,000 MW by JV companies. Has projects with an aggregate capacity of another 10,000 MW is under bidding and about 25,000 MW for which sites have been identified and studies are under progress.

Has a strong track record in operating its plants at higher efficiency. In terms of availability factor, a measure of how often a station is available to generate power, and average plant load factor (PLF), a measure of how much of its capacity a plant actually uses to generate electricity, the power stations of NTPC are efficiently operated. Out of 15 coal-based power stations, five stations have operated at a PLF of greater than 95% and one among the five even operated at a PLF of 99.4% in FY 2009. Considering all 15 coal-based power stations, the average PLF works out to 91.1% with an average availability factor of 92.5% in FY 2009 compared with the all-India average PLF for coal-based stations of 77.2%. The gas-based stations of the company operated at an average availability of 86.7% in FY 2009 and an average PLF of 67.0% compared with the all-India average PLF for gas-based stations of 57.6%. Moreover, the PLF of gas-based stations improved to 78.4% in the first half of FY 2010 due to increased gas availability.

All owned installed capacity of 28,350 MW is contracted for sale through long-term PPAs with state electricity boards (SEBs) and distribution companies. More than 90% of its sales of electricity is to SEBs and state owned distribution companies for which payments are secured through letter of credit and the tripartite agreements. This assures steady cash flow. Moreover, will be able to cash on the higher unscheduled interchange charges if able to operate the plant at higher scheduled capacity or the client fails to take the generated capacity in view of the strong demand-supply gap in the country. Moreover, the new generation units are eligible for 15% merchant sales component. This would allow exploitation of the current strong merchant power tariff market in the country.

Has ensured fuel supply with long-term supply agreements. Had signed long-term coal supply agreements covering 12 of its 15 coal-based stations with Coal India and its subsidiaries in September 2009. Also executed gas supply agreements with Gail India for gas-based power stations. These are valid up to 2021.

The balance sheet is strong to leverage for future investment commitments. Cash on hand in consolidated books was about Rs 17341.20 crore and net worth Rs 61846.20 crore end September 2009. The current cash position is more than enough for its equity commitments in JVs and special purpose vehicles.

Is set to become a Maharatna company, which will bestow more operational flexibility.

Weaknesses

Has little experience in setting up hydel power capacity as well as in coal mining. Despite having allotted six captive coal blocks, proposes to develop these blocks through a mine developer-cum-operator (MDO). Is yet to appoint a MDO. This might delay the coal development projects as well as the three power plants linked to it. Also, is yet to get the full land for the development of the mines.

Requires 168 tonnes of coal at 85% PLF and 16.4 Million Metric Standard Cubic Meter Per Day (mmscmd) of gas at 85% PLF by 2012. Despite long fuel supply agreement, India's mine development is not keeping pace with addition of generation capacity. This might lead to short supply of fuel and compel to tap overseas market. Though the fuel cost is a pass-through item, might be forced to operate at lower PLF if adequate coal is not available at right time.

In the first two-and-a-half years of the Eleventh Five-Year Plan, has added only 3,240 MW. Given the engineering, procurement and construction (EPC) and equipment constraint in the country for commissioning of power plants, the target of an installed commercially operational capacity of 50,000 MW by March 2012 from the current 30,644 MW will be a Herculean task.

Valuation

NTPC's net profit growth in the last few years has been lackluster. The floor price of Rs 201 discounts the annualized nine-months ended December 2009 consolidated EPS of Rs 10.7 by 18.8 times.

While the current price is Rs 207, the 50-day average, 100-day average and 200-day average works out to Rs 219, Rs 215, Rs 210. The scrip's beta is very low at 0.6, ensuring low market-related risk. Given the long-term growth prospects of the power sector and its dominant position and sound growth strategy, NTPC will continue to be fancied by institutional investors for taking low-risk long-term exposure to India's power sector.

Small-cap, mid-cap indices underperform Sensex

The key benchmark indices surged as strong response to NTPC's follow-on public offer (FPO), robust services sector data for January 2010 and firm global stocks boosted investor sentiment. The BSE 30-share Sensex rose 332.61 points or 2.06%. Metal, consumer durables, realty, banking and capital goods stocks rose. Index heavyweight Reliance Industries (RIL) pared earlier gains. The market breadth was strong. All the sectoral indices on BSE were in the green.

The large follow-on public offer (FPO) of state-run power generation firm NTPC was subscribed 70% by 16:00 IST on the first day of bidding for the issue today, 3 February 2010, data on NSE showed. Majority of the bids were at Rs 209 per share. The government has fixed the benchmark price for the proposed divestment of government stake at Rs 201 per share.

NTPC kickstarts what is expected to be a large fund raising exercise by Indian firms in calendar 2010 from share sales. A section of the market is concerned that a glut in share sales will soak liquidity from the secondary market. As per reports, Indian firms may raise $30 billion from share sale in 2010, led by government stake sales and initial public offers from power and property firms. Indian companies raised about $20 billion from share sales in calendar 2009.

The government currently holds an 89.5% stake in NTPC and it plans to dilute 5% through the FPO. At the floor price, the government would mop up Rs 8286 crore. NTPC's FPO is the first public issue which is adopting the French Auction route to raise funds. Under the French Auction model, institutional buyers are free to bid above a certain floor price. The highest bidder gets preference during the allotment of shares

The government has targeted raising Rs 25000 crore in the fiscal year through March 2010 by selling stakes in state-run companies. So far, it has managed to net Rs 4259 crore. The Indian government is selling bits of state-run companies as part of efforts to bridge a budget deficit that is estimated to swell to a record 6.8% of gross domestic product in the year through March 2010

Besides NTPC, Rural Electrification Corporation plans to raise nearly $1 billion through a follow-on offering which will open on 19 February 2010 and close 23 February 2010. Mining company NMDC is scheduled to come to market in the second week of March 2010 to raise around $3 billion and Satluj Jal Vidyut Nigam is expected to mop up about $260 million in an initial public offering toward the end of March 2010.

The Reserve Bank of India (RBI) said on Wednesday it had decided to withdraw a short-term foreign currency funding facility provided to non-banking financial and home finance firms, with immediate effect. The decision has been taken after a review of the prevailing macro-economic conditions and improvements in the domestic credit and liquidity conditions, the Reserve Bank of India said in a statement. It had introduced this facility in October 2008, which allowed the firms to raise foreign currency borrowings from the central bank to refinance short-term liabilities.

India's chief statistician Pronab Sen today said that data suggests that industrial recovery in the country is on track, but the government would wait for the March 2010 quarter economic data before taking a call on exiting stimulus measures. Market men expect Finance Minister Pranab Mukherjee to announce stimulus exit measures when he presents the annual budget for 2010/11 on 26 February 2010.

A change in the base year used to calculate gross domestic product may help reduce fiscal deficit for 2009/10 to 6.41% of GDP, Pronab Sen said on Wednesday. The government in the budget had targetted India's fiscal deficit at 6.8% of GDP in 2009/10.

Business activity among Indian services companies expanded at its fastest pace in 16 months in January 2010, rising for a second straight month on sharp increase in new work orders, a survey showed. The HSBC Markit Business Activity Index, based on a survey of 400 Indian firms, rose to 58.96 in January 2010, its highest since September 2008, after rising to 57.41 in December 2009.

Earlier this month, another data showed that manufacturing activity grew at its fastest pace in almost 1-1/2 years in January 2010, driven by a sharp rise in new export orders that are supporting a recovery in the industrial sector. The HSBC Markit Purchasing Managers' Index (PMI), based on a survey of 500 Indian companies, rose to 57.7 in January 2010, its strongest reading since August 2008 and up from 55.6 in December 2009.

Exports continued to rebound, rising an annual 9.3% in December to $14.6 billion, their second consecutive monthly rise, although the pace of annual growth was slower than the 18.2% registered in November. Imports increased by 27.2% in December from a year earlier to $24.75 billion while the trade deficit shrunk by a little over 28 percent to $76.24 billion for the April- December 2009 period.

On Friday 29 January 2010, the Reserve Bank of India (RBI) raised the cash reserve ratio for banks by a higher-than-expected 75 basis points in an effort to soak up excess liquidity, and ramped up its forecast for GDP growth in the current fiscal year through March to 7.5% from its earlier forecast of 6%. It lifted its wholesale price index inflation forecast for the end of the fiscal year in March to 8.5% from 6.5%.

The RBI will target inflation in the coming months, RBI Governer D Subbarao said on Monday. Subbarao also said it is important for the government to withdraw the stimulus and that the government and central bank would have to coordinate in withdrawing stimulus. He reiterated that the economy is back to growth and added that the challenge is to accelerate momentum.

European shares advanced for a fourth consecutive session on Wednesday, with stronger miners on the back of firm metals prices outpacing a weaker pharma sector, which slipped after Roche's profit missed expectations. In Europe, the key benchmark indices in France, Germany and UK rose by between 0.27% to 0.73%.

Asian shares rose on Wednesday with resources stocks leading the way, as demand for riskier assets increased after Wall Street rallied on Tuesday on upbeat US corporate earnings and economic data. The key benchmark indices in China, Hong Kong, Indonesia, Japan, South Korea, Singapore and Taiwan rose by between 0.32% to 2.36%.

Trading in US index futures indicated Dow could gain 13 points at the opening bell on Wednesday, 3 February 2010.

In US market action on Tuesday after a shaky start, the Dow logged its second straight triple-digit gain and the S&P 500 jumped back to the 1100 mark. Some encouraging earnings report, positive pending home sales data and strong auto sales from Ford led the upmove. Ford's sales rose 35% in January 2010. The Dow Jones industrial average added 111.32 points, or 1.09%, at 10,296.85. The Standard & Poor's 500 Index rose 14.13 points, or 1.30%, to 1,103.32. The Nasdaq Composite Index added 18.86 points, or 0.87%, to 2,190.06.

Closer home, the BSE 30-share Sensex rose 332.61 points or 2.06% to 16496.05. The index rose 389.55 points at the day's high of 16,552.99 in afternoon trade. The Sensex rose 46.81 points at the day's low of 16,210.25 in early trade.

The S&P CNX Nifty rose 101.75 points or 2.11% to 4931.85. Nifty February 2010 futures were at 4,921.05, at a discount of 10.80 points as compared to the spot closing of 4,931.85. Turnover in NSE's futures & options (F&O) segment was Rs 78,755.97 crore, lower than Rs 79,683.06 crore on Tuesday, 2 February 2010.

The BSE Mid-Cap index rose 1.5% and the BSE Small-Cap index rose 1.06%. Both the indices underperformed Sensex.

All the sectoral indices on BSE rose. BSE Metal index (up 4.01%), BSE Realty index (up 2.81%), BSE Consumer Durables index (up 2.63%, BSE Capital Goods index (up 2.12%), and banking sector index Bankex (up 2.07%), outperformed the Sensex. BSE Healthcare index (up 0.6%), BSE Power index (up 0.98%), BSE Oil & Gas index (up 1.36%), BSE PSU index (up 1.43%), BSE IT index (up 1.72%), BSE Auto index (up 1.77%), and BSE FMCG index (up 2.01%), underperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1772 shares advanced as compared with 1048 that fell. A total of 100 shares remained unchanged.

From 30 shares Sensex pack, 29 rose and one fell.

BSE clocked turnover of Rs 4425 crore, lower than Rs 5187.21 crore on Tuesday, 2 February 2010.

Index heavyweight Reliance Industries (RIL) rose 0.7% to Rs 1033.75. It came off the day's high of Rs 1047.80. The company's net profit rose 15.77% to Rs 4008 crore on 89.77% surge in total income to Rs 57364 crore in Q3 December 2009 over Q3 December 2008. RIL said the results had been reworked and restated to include figures from Reliance Petroleum, which it absorbed last year. The company announced the Q3 result during market hours on 22 January 2010.

Consumer durables stocks rose on good Q3 result. Rajesh Exports, Videocon Industries, Blue Star, Titan Industries rose by between 0.136% to 6.46%.

India's largest power utility firm by sales NTPC rose 1.82% on strong response to its FPO. Among other power firms, CESC, Torrent Power, Tata Power Company, Reliance Power fell by between 0.01% to 2.14%.

Metal stocks rose after LMEX, a gauge of six metals traded on the London Metal Exchange, rose 0.97% on Tuesday, 2 February 2010. National Aluminium Company rose 2.92%. The company's net profit declined 29.3% to Rs 155.18 crore in Q3 December 2009 over Q3 December 2008.

India's largest non-ferrous metal firm by capacity Sterlite Industries India rose 5.97%. Sterlite Industries' bauxite mining project in the Niyamgiri hills in eastern Orissa may reportedly face a setback, with court documents revealing inconsistencies in the approval process. Sterlite Industries' net profit slumped 77.16% to Rs 46.59 crore on a 39.83% increase in sales to Rs 3611.99 crore in Q3 December 2009 over Q3 December 2008.

India's largest private sector aluminum maker by sales Hindalco Industries rose 3.27%. The company's net profit fell 21.60% to Rs 427.10 crore on a 29.56% increase in sales to Rs 5286.10 crore in Q3 December 2009 over Q3 December 2008.

Steel stocks rose on reports that top private steel makers including JSW Steel, Essar Steel and Ispat Industries have begun the year on a strong footing with up to 30% growth in sales volume in January 2010 over the year ago period boosted by robust demand from automobile and consumer durable sectors.

India's largest private sector steel maker by sales Tata Steel rose 4.91%. The company's net profit surged 155.6% to Rs 1191.75 crore in Q3 December 2009 over Q3 December 2008. The company announced the result during market hours on Thursday 28 January 2010.

Tata Steel will report consolidated third-quarter results, to include the Corus numbers this month. The Indian operations account for a quarter of the group's annual global capacity of about 30 million tonnes.

Steel Authority of India (Sail) rose 4.92%. Sail on Tuesday announced a new round of hike in steel prices of Rs 500 per tonne for flat products. Sail reported a 99% jump in its net profit at Rs 1,675.55 crore in Q3 December 2009 over Q3 December 2008.

JSW Steel rose 8.44%. The company said today crude steel output rose 66% in January 2010 over January 2009.

Tata Steel, Essar Steel, JSW Steel and Ispat Industries may reportedly also increase prices taking into consideration the rising input costs.

Rate sensitive realty shares rose after the Reserve Bank kept interest rates steady in its quarterly monetary policy late last month. Ackruti City, Indiabulls Real Estate, Housing Development & Infrastructure, Omaxe rose by between 0.7% to 4.49%.

India's largest realty player by sales DLF rose 2.94%. The company's net profit rose 26.04% to Rs 224.43 crore on 109.03% rise in sales to Rs 887.16 crore in Q3 December 2009 over Q3 December 2008. The company announced the Q3 result last week.

Unitech rose 2.61%. The company's net profit rose 576.6% to Rs 131.94 crore on 216.7% rise in sales to Rs 642.88 crore in Q3 December 2009 over Q3 December 2008.

Rate sensitive banking shares rose after Reserve Bank kept interest rates steady in its quarterly monetary policy review late last month. India's second largest private sector bank by net profit HDFC Bank rose 2.19% on bargain hunting after last two days' fall. Its ADR rose 0.61% on Tuesday. India's largest private sector bank by net profit ICICI Bank rose 2.56%. Its ADR fell 0.39% on Tuesday.

India's largest bank by net profit and branch network State Bank of India rose 1%. SBI chairman O P Bhatt recently said deposit rates may not go up immediately but there is no room for deposit rates to come down.

Commercial banks do not see any upward pressure on lending rates in the next six months, after the Reserve Bank raised banks' reserve requirements on Friday, 29 January 2010 top bankers said. The head of Indian Banks' Association (IBA), the apex industry body, said lending rates were expected to be stable till the first quarter of fiscal year starting 1 April 2010.

Banks' outstanding loans fell by Rs 11,900 crore in the two weeks to 15 January 2010 because companies repaid some loans as is typical at the beginning of a quarter, the central bank's data showed last week. The Reserve Bank of India data showed loans fell to Rs 30,08,000 crore in the two weeks to 15 January 2010 and deposits fell by around Rs 22,000 crore to Rs 42,43,000 crore. In the two weeks to 1 January 2010, outstanding loans rose by a massive Rs 78,192 crore and deposits also went up by Rs 82,769 crore.

India's largest engineering and construction firm by sales Larsen & Toubro rose 3.8%. The company announced today that it won orders worth Rs 1100 crore.

India's largest power equipment maker by sales Bharat Heavy Electricals rose 0.49% on bargain hunting after losses in the past two days. Bharat Heavy Electricals said last week it would sign an agreement with the Madhya Pradesh state utility to jointly set up a 1,600 megawatts thermal power plant in the central Indian state.

Among other capital goods stocks, Siemens, ABB, Thermax, BEML and Praj Industries rose by between 0.3% to 2.98%.

Shares of oil exploration firms rose after crude oil prices surged nearly 4% on the New York Mercantile Exchange, on Tuesday, 2 February 2010. Cairn India rose 1.51%. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) advanced 2.65%. India's second biggest oil and gas exploration firm by revenue, Oil India, gained 3.14%. Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.

Light, sweet crude oil rose $2.80, or 3.76%, to $77.23 a barrel on the New York Mercantile Exchange on Tuesday, 2 February 2010 fuelled by encouraging economic data and weak dollar.

PSU OMCs rose. As per reports, a government panel on oil fuel pricing has recommended lifting government control over petrol prices at the refinery and retail level. It also recommended retail diesel prices be market driven. BPCL, HPCL and Indian Oil Corporation rose by between 0.02% to 2.48%.

Cement shares gained after most firms posted higher cement sales last month. UltraTech Cement rose 1.29% after gaining 3.03% on Tuesday. Aditya Birla Group's cement shipments rose 14% to 34.3 lakh tonnes in January 2010 over January 2009.

Ambuja Cements rose 0.93%. Ambuja Cements' January shipments rose to 17.5 lakh tonnes, up 7.5% from a year earlier. The company said production rose to 17.4 lakh tonnes from 16.1 lakh tonnes.

Shree Cement rose 0.7%. Shree Cement's January shipments rose 18% to 8.82 lakh tonnes, up from 7.49 lakh tonnes a year earlier. Total shipments during April-January period rose 24% to 76.5 lakh tonnes, up from 61.8 lakh tonnes a year ago.

ACC rose 1.3%. ACC's shipments in January rose 1.1% to 19.1 lakh tonnes from 18.9 lakh tonnes a year earlier. The company said production rose to 18.9 lakh tonnes from 18.7 lakh tonnes.

FMCG and healthcare stocks rose on strong Q3 result. Among FMCG stocks, Hindustan Unilever, Nestle India, Dabur India, Tata Tea, ITC, rose by between 0.06% to 3.33%.

Among healthcare stocks, Biocon, Cipla, Aurobindo Pharma rose by between 1.92% to 2.02%.

Stocks from interest rate sensitive auto sector rose on strong vehicle sales in January 2010. India's largest tractor maker by sales Mahindra and Mahindra (M&M) rose 3.08%. Mahindra & Mahindra total vehicle sales jumped 71.2% to 30,149 units in January 2010 over January 2009.

India's top truck marker by sales Tata Motors rose 1.94%. Tata Motors total sales rose 77% to 65,478 units in January 2010 over January 2009. Domestic sales rose 74% to 62,202 units in the same period. Commercial vehicles sales increased 107% to 35,957 units, while passenger vehicle sales rose 43% to 28,547 units in January 2010 over January 2009.

Bajaj Auto rose 1.23%. The company's total vehicle sales soared 101% to 2.66 lakh units in January 2010 over January 2009.

India's largest motorbike maker by sales Hero Honda Motors rose 2.05%. Hero Honda Motor's total sales rose 23.6% to 389,802 units in January 2010 over January 2009. After market hours on 25 January 2010, the company reported a 78.34% rise in net profit to Rs 535.77 crore on a 32.72% rise in sales to Rs 3814.42 crore in Q3 December 2009 over Q3 December 2008.

India's top small car maker by sales Maruti Suzuki India rose 0.67%. The company's vehicle sales rose 33.3% to 94649 units in January 2010 over January 2009.

But, TVS Motor Company fell 2.28%. The company's vehicle sales rose 34% in January 2010 over January 2009.

IT stocks rose on improved economic data in the US. US is the biggest market for the Indian IT firms. India's largest IT exporter by sales Tata Consultancy Services rose 2.09% after gaining 1.78% on Tuesday.

India's third largest software services exporter Wipro rose 2.65%. Its ADR fell 1.52% on Tuesday. Wipro Consumer Care and Lighting, the FMCG arm of Wipro, is reportedly in advanced talks to buy Nigeria-based skincare company, Tura International.

India's second largest IT exporter by sales Infosys rose 1.34% extending Tuesday's 1.71% gains. Its ADR rose 0.4% on Tuesday.

Hindustan Fertiliser and Chemicals clocked highest volume of 1.64 crore shares on BSE. Infinite Computer Solutions (1.63 crore shares), Fame India (1.62 crore shares), Cals Refineries (1.55 crore shares) and Reliance Natural Resources (1.31 crore shares) were the other volume toppers in that order.

Infinite Computer Solutions clocked the highest turnover of Rs 313.88 crore on BSE. Tata Steel (Rs 166.25 crore), State Bank of India (Rs 162.30 crore), National Fertiliser (Rs 103.54 crore) and Relaince Industries (Rs 91.04 crore) were the other turnover toppers in that order.