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Saturday, February 09, 2008
Weekly Technicals - Feb 11 2008
The markets extended losses for the fourth straight week, and both the major indices succumbed to unabated selling in the latter half of the week ended February 8.
The Sensex, which rallied to an intra-week high of 18,895, tumbled to a low of 17,203 - a swing of 1,692 points - and finally settled with a loss of 769 points (4.2%) at 17,645. The index is down almost 18.5% (3,363 points) in the last four weeks.
The high of 18,895 was exactly at the R3 (Resistance 3) level of 18,900, and the low of 17,203 was close to the important medium-term support level of 17,150.
One needs to watch 17,150 as the crucial support level for the Sensex next week. While the Sensex will find strength above the 18,500-mark, a breakout above the week's high (18,895) could see the index rally another 1,000 points.
While the Sensex is likely to face resistance around 18,110-18,310-18,515, the index is likely to find support around 16,820-16,620-16,415.
The NSE Nifty moved in a range of 431 points. From a high of 5,545, the index dropped to a low of 5,034 before settling with a loss of 197 points at 5,120. The index ended lower for the fifth straight week, and has declined 18% (1,154 points) during the period.
The Nifty, which is currently trading close to its 200-day moving average of 4,975, may find support around this level. The 20-day moving average is at 5,413, and the 50-day moving average is at 5,779.
The Nifty is likely to find support around 4,955-4,905-4,850, while the index is likely to face resistance around 5,285-5,335-5,390.
Market may remain volatile; RPower listing eyed
The market is expected to see volatile swings as has been the trend in the recent past. Of late markets across the globe were inflicted by high volatility due to fears of a recession in United States, the world's biggest economy.
The key event watch out for is the debut of Reliance Power (RPower) on Monday, 11 February 2008. Reliance Power had, last month, completed India's largest initial public offer (IPO) of over Rs 11000 crore.
The issue was heavily subscribed. The Anil Dhirubhai Ambani Group firm Reliance Power got an aggregate commitment of over Rs 7.50 lakh crore, as against the issue size of Rs 11,560 crore. It had offered shares at Rs 450 per share, valuing the firm at $30 billion.
The Reliance Power shares quoted a premium of as high as Rs 500 per share in the grey market when the issue was open for subscription due to buoyant equity market. However, as per latest reports, it is now attracting premium of Rs 100- 200 per share as equity markets across the globe have declined in volatile trade.
Forthcoming events including Railway Budget and Union Budget for 2008-09, to be presented at the fag end of February 2008, may dictate the trend on the bourses in the near term.
Third quarter December 2007 results season has come to end. Most of the results were in line with market expectations. A total of 3321 companies reported 26.80% rise in net profit on 19.20% rise in net sales for Q3 December 2007 over Q3 December 2006. The net profit was boosted by 72.5% jump in other income
The market suffered losses for the fourth straight week in the week ended Friday, 8 February 2008 as selling pressure continued for index pivotals. The BSE 30-shares Sensex lost 777.69 points or 4.26% to 17,464.89 in the week ended Friday, 8 February 2008. The S&P CNX Nifty lost 196.90 points or 3.70% to 5,120.35, in the week.
However, small-cap and mid-cap indices outperformed the Sensex. The BSE Mid-Cap index declined 128.27 points or 1.65% to 7,633.27, in the week ended Friday, 8 February 2008. The BSE Small-Cap index lost 151.97 points or 1.51% to 9,920.35, in the week.
Market extends losses
The market suffered losses for the fourth straight week in the week ended Friday, 8 February 2008 as selling pressure continued for index pivotals. The market slipped in three out of five trading sessions in the week. Volatility was high throughout the week. Small-cap and mid-cap indices outperformed the Sensex
Depressed secondary market hit IPOs in the week. Emaar MGF Land became second victim of the depressed secondary market conditions as the company withdrew its IPO on Friday, 8 February 2008 due to poor response to the issue, a day after Wockhardt Hospitals on Thursday, 7 February 2008, pulled out its IPO for the same reason.
The BSE 30-shares Sensex lost 777.69 points or 4.26% to 17,464.89 in the week ended Friday, 8 February 2008. The S&P CNX Nifty lost 196.90 points or 3.70% to 5,120.35, in the week.
The BSE Mid-Cap index declined 128.27 points or 1.65% to 7,633.27, in the week ended Friday, 8 February 2008. The BSE Small-Cap index lost 151.97 points or 1.51% to 9,920.35, in the week.
The BSE Sensex has lost 3,741.88 points or 17.64% from a record high of 21,206.77 hit on 10 January 2008
Trading for the week started on an upbeat note with Sensex surging 417.74 points or 2.29% at 18,660.32 on Monday, 4 February 2008. On the same day, the broader CNX S&P Nifty gained 146.25 points or 2.75% at 5,463.50. The sentiment was boosted by Microsoft Corp's bid for Yahoo Inc and following China's buy of a large stake in takeover target Rio Tinto.
On Tuesday, 5 February 2008, the 30-share BSE Sensex rose a meagre 2.84 points or 0.02% at 18,663.16, after a weak start. The broader based CNX S&P Nifty was up 20.4 points or 0.37% to 5,483.90 on the same day.
The 30-share BSE Sensex slumped 523.67 points or 2.81% at 18,139.49 on Wednesday, 6 February 2008. On the same day, the broader CNX S&P Nifty declined 161.35 points or 2.94% at 5,322.55. Weak Asian markets played the spoilsport.
The 30-share BSE Sensex plunged 612.56 points or 3.38% at 17,526.93 following late sell-off in index pivotals. The broader CNX S&P Nifty lost 189.30 points or 3.56% at 5,133.25
On Friday, 8 February 2008, the Sensex declined 62.04 points or 0.35% to 17,464.89, after seeing volatile swings throughout the day. The broader CNX S&P Nifty slipped 12.90 points or 0.25% at 5,120.35.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries fell 4.75% at Rs 2421.75 in the week. As per reports, Reliance Industries (RIL)’s two wells in D6 block in the Krishna Godvari (KG) basin have hit a technical snag. The loss to wells runs into about $175 million.
India’s second largest listed telecom firm by sales Reliance Communications (RCom) advanced 5.61% to Rs 646.10 in the week. Reliance Infratel, a subsidiary of RCom has filed its draft red herring prospectus for an initial public offer (IPO) with the Securities and Exchange Board of India (Sebi). The company will offer 8,91,64,100 shares of Rs 5 each for cash, constituting 10.05% of its post-issue paid-up equity capital.
DLF, the largest real estate developer in terms of market capitalisation gained 0.39% to Rs 816.70 in the week. The stock will replace Glaxosmithkline Pharmaceuticals, in S&P CNX Nifty index from 14 March 2008.
India’s third largest software services exporter Wipro declined 3.40% to Rs 422.45 in the week. As per reports the company plans to build electronic warfare systems, radars and flight simulators locally for US defence contractors.
Tata Motors, the country’s largest truck manufacturer in terms of sales, shed 5.72% to Rs 711.15 in the week. It reported 11.76% fall in its passenger car sales in the domestic market during January 2008 at 20,119 units compared with 22,801 units in the same month a year ago.
India’s largest oil exploration company in terms of market capitalisation Oil & Natural Gas Corporation (ONGC) lost 4.52% to Rs 997.25 in the week. As per reports, British oil major British Gas is all set to pick up a 30% stake in ONGC’s Krishna Godawari basin block and 25% in Mahanadi basin block.
India’s top small car maker in terms of sales Maruti Suzuki India slumped 11.15% to Rs 803.85 in the week. The company has raised prices of many of its models by Rs 1,000 to Rs 11,000 per unit.
Banking stocks were mixed during the week. ICICI Bank declined 10.94% to Rs 1066.70 and HDFC Bank lost 7.74% to Rs 1445.95. However, India's largest commercial bank in terms of net profit State Bank of India rose 0.27% to Rs 2,191.45.
Third quarter December 2007 results season has come to end. Most of the results were in line with market expectations. A total of 3321 companies reported 26.80% rise in net profit on 19.20% rise in net sales for Q3 December 2007 over Q3 December 2006. The net profit was boosted by 72.5% jump in other income
Annual inflation based on the wholesale price index rose 4.11% in the week ended 26 January 2008 from 3.93% in the week ended 19 January 2008, government data released on Friday, 8 February 2008 showed.
The Bank of England on Thursday, 7 February 2008, cut its key interest rate by a quarter percentage point to 5.25% to help shore up the economy but policymakers remained worries about inflation, dampening hopes of rapid-fire rate cuts. The European Central Bank kept euro-zone rates unchanged at 4% on the same day.
Meanwhile, Reliance Power, which raised a record $3 billion in its initial share sale in January 2008, will list on exchanges on Monday, 11 February 2008. The initial public offer had received bids for $190 billion.
The Bombay Stock Exchange (BSE) has decided to change the eligibility criteria for inclusion of scrips in ‘A’ group. The revised list will be announced on 18 February 2008 and will come into effect from 3 March 2008. A total of 200 companies will find place in A group. BSE has also discontinued the division of group ‘B’ into group ‘B1’ and ‘B2’. All companies not included in group ‘A’, ‘S’ or ‘Z’, will constitute group ‘B’, according to a BSE circular.
On 7 February 2008, the Central Statistical Organisation released the advance estimates of national income for 2007-08. Gross domestic product (GDP) growth is estimated at 8.7% compared with 9.6% in 2006-07. Agriculture is expected to advance 2.6% in 2007-08 as against 3.8% in 2006-07. Manufacturing is expected to gain 9.4% in 2007-08.
On 4 February 2008, the International Monetary Fund (IMF), in a report summarising its annual consultation on India's economic policy, estimated India's growth at 8.75% for 2007-08 as a result of rising productivity and investment.
Small-cap, mid-cap stocks slide
Volatility was the hallmark for the day as the market swung like pendulum in negative and positive terrain throughout the day. The market recovered from lower level in mid-afternoon trade on positive cues from European markets. The market had swung between positive and negative zone in mid-morning trade after undergoing high initial volatility. Sensex fell below 17,500 mark. Most of the Asian markets were closed today.
Emaar MGF Land became another victim of the depressed secondary market conditions as the company today withdrew its IPO due to poor response to the issue, a day after Wockhardt Hospitals on Thursday, 7 February 2008, pulled out its IPO for the same reason. Recently, volatility in the secondary market conditions had forced Emaar MGF Land to extend its initial public offer until 11 February 2008 and lower its indicated price for a second time.
The 30-share BSE Sensex declined 62.04 points or 0.35% to 17,464.89. Sensex shed 323.87 points at the day's low of 17,203.06, hit in afternoon trade. Sensex touched a high of 17,688.73 at the onset of the trading session. At day's high, Sensex surged 161.80 points.
The broader CNX S&P Nifty was down 12.9 points or 0.25% at 5,120.35.
IT stocks surged. Reliance Industries and State Bank of India came off lower level. Realty, metal and consumer durable stocks dropped. Hindustan Unilver and ITC rose. Even as the Sensex recovered, the market breadth remained quite weak.
Annual inflation based on the wholesale price index rose 4.11% in the week ended 26 January 2008 from 3.93% in the week ended 19 january 2008, government data released today showed.
The BSE Mid-Cap index was down 1.9% at 7,633.27, while the BSE Small-Cap was down 2.77% at 9,920.35.
The market breadth was quite weak: on BSE 506 advanced as compared to 2,259 that declined. 37 stocks remained unchanged. 16 out of 30 Sensex stocks were in red.
BSE clocked a turnover of Rs 6334 crore compared to Thursday (7 February 2008)'s Rs 6570 crore.
Nifty February 2008 futures were at 5,070, at a discount of 50.35 points as compared to spot closing of 5,120.35.
The NSE's futures & options (F&O) segment turnover was Rs 39,421.27 crore, which was lower than Rs 40,921.83 crore on Thursday, 7 February 2008.
BSE Auto index (down 0.88% to 4,741.49), BSE Bankex (down 2.17% to 10,159.42), BSE Consumer Durables index (down 3.2% to 4,737.15), BSE Capital Goods index (down 1.62% to 15,859.11), BSE Metal index (down 2.67% to 15,114.84), BSE Power index (down 1.23% to 3,736.31), BSE PSU index (down 0.9% to 8,275.98) and BSE Realty index (down 2.46% to 9,783.85) underperformed Sensex.
BSE FMCG index (up 2.34% to 2,175.09), BSE IT index (up 3.73% to 3,843.34), BSE Oil & Gas index (down 0.28% to 10,638.44) outperformed Sensex.
Among Sensex stocks, Hindustan Unilever rose 6.09% to Rs 211.75, ONGC rose 0.89% to Rs 997.25, ITC rose 2.47% to Rs 196.95 and Ranbaxy Laboratories rose 2.32% to Rs 382.30.
HDFC, India's biggest dedicated housing finance firm by revenue, fell 4.47% to Rs 2,796.20.
IT stocks strengthened on bargain hunting after they fell for the last three consecutive trading sessions. Infosys (up 4.76% to Rs 1,551.35), Satyam Computer Services (up 4.9% to Rs 410), Tata Consultancy Services (up 1.93% to Rs 899.95) and Wipro (up 3.07% to Rs 422.45) edged higher.
Metal stocks declined. Steel Authority of India (down 4.61% to Rs 200.60), Sterlite Industries (down 2.76% to Rs 737.55), Tata Steel (down 2.72% to Rs 750.40) and Hindalco Industries (down 1.71% to Rs 160.50) edged lower.
Banking stocks declined after the latest data showed rise in inflation. ICICI Bank (declined 3.49% to Rs 1,066.70), HDFC Bank (down 3.06% to Rs 1,445.95) edged lower. State Bank of India rose 1.68% to Rs 2,191.45. It recovered from a low of 2,150.97.
Capital goods stocks fell. India’s largest engineering & construction firm by revenue Larsen & Toubro fell 2.84% to Rs 3,527.30. It recovered from low of Rs 3,465. India's biggest power equipment maker by sales Bharat Heavy Electricals declined 0.31% to Rs 2,013.70 despite winning a contract worth Rs 3,390 crore.
India’s largest wind turbine maker by sales Suzlon Energy rose 0.88% to Rs 310.10. Suzlon Energy, through its step-down wholly owned subsidiary company, SE Drive Technik, Germany in joint venture with REpower Systems AG, Germany has established a new company Renewable Energy Technology Centre. Both the firms hold 50% stake each in the new company.
Realty stocks fell. Indiabulls Real Estate (down 4.73% to Rs 630), Housing Development Infrastructure (down 2.79% to Rs 908.25), DLF (down 3.33% to Rs 816.70) and Unitech (down 2.76% to Rs 351.05) edged lower.
Consumer durables stocks fell. Titan Industries (down 5.69% to Rs 1,061.65), Videocon Industries (down 4.71% to Rs 411.45), Rajesh Exports (down 3.39% to Rs 128.25) and Blue Star (down 3.95% to Rs 460) edged lower.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries declined 0.13% at Rs 2,421.75. It recovered from its lows of Rs 2,391.50.
India’s largest telecom services provider by sales Bharti Airtel rose 2.12% to Rs 880.80.
India’s second largest listed telecom firm by sales Reliance Communications declined 1.61% to Rs 633.70. Reliance Infratel, the tower subsidiary of Reliance Communications (RCom), will reportedly build 56,596 telecom towers by financial year 2010, increasing the total number of towers to 1 lakh.
Reliance Natural Resources clocked highest volume of 3.79 crore shares on BSE. Ispat Industries (1.54 crore shares),Reliance Petroleum (1.29 crore shares), Nagarjuna Fertilisers and Chemicals (1.24 crore shares) and IFCI (1.09 crore shares) were the other volume toppers on BSE in that order.
Reliance Natural Resources clocked the highest turnover of Rs 573.83 crore on BSE. Reliance Energy (Rs 408.07 crore), Reliance Industries (Rs 267.90 crore), Reliance Petroleum (Rs 211.76 crore) and Reliance Communications (Rs 181.71 crore) were other turnover toppers on BSE in that order.
A poor response to the IPO due to depressed secondary market conditions caused Wockhardt Hospitals to withdraw its IPO on Thursday, 7 February 2008. The IPO was subscribed just 20% by Thursday, the last day of the issue.
The Bank of England on Thursday, 7 February 2008, cut its key interest rate by a quarter percentage point to 5.25% to help shore up the economy but policymakers remained worries about inflation, dampening hopes of rapid-fire rate cuts. The European Central Bank kept euro-zone rates unchanged at 4% on the same day.
European markets were firm. Stock markets in France, Germany and UK were higher between 0.54-1.14%.
Markets in China, Hong Kong, South Korea, Singapore, and Taiwan were closed today for the Lunar New Year holiday. Japan’s Nikkei 225 average was down 1.44%.
US stocks rose on Thursday, as relatively cheap valuations tempted investors back to Wall Street after a three-day losing streak. The Dow Jones industrial average was up 46.90 points, or 0.38%, at 12,247.00. The Standard & Poor's 500 Index was up 10.46 points, or 0.79%, at 1,336.91. The Nasdaq Composite Index rose 14.28 points, or 0.63%, at 2,293.03.
Even if the US goes into the recession, it may not impact India’s economic growth in a big way given that domestic demand is a key driver of the Indian economy. India’s economy is expected to post strong growth for a long period due to favourable demographics. Moreover a healthy investment cycle will continue to support India’s growth through a self-perpetuating cycle of income creation, savings and investment.
India's economy is expected to expand at 8.7% in fiscal 2007/08, slower than 9.6% growth in 2006/07, which was its strongest pace in 18 years, government's central statistics office (CSO) said on Thursday, 7 February 2008. CSO has pegged manufacturing output growth at an annual 9.4% this fiscal compared with 12% growth in the previous year. Farm output growth is estimated at 2.6% for the full year 2007/08 compared with 3.8% growth in 2006/07. Services sector growth is estimated at 10.7% for the year against 11.1% growth in 2006/07.
Corporate earnings growth remains decent. Deutsche Bank expects 20% compounded annual growth rate in earnings of 30-Sensex firms during the period from FY 2007 (year ended 31 March 2007) to FY 2009 (year ending 31 March 2009).
Friday, February 08, 2008
GSS America Infotech IPO Review
Incorporated in 2003 and promoted by first generation entrepreneurs and technocrats Bhargav Marepally and Ramesh Yerramsetti, GSS America Infotech (GSI) is a total IT solution provider spanning consulting, enterprise application integration and infrastructure management/managed services. Its web-based business service management product Control-M gives administrators and users an intuitive and easy way to control and manage the business environment. Almost 100% of the revenue are housed under its 100% subsidiary GSS America Inc. Currently, all the revenue is derived from the US market.
Enterprise Application Integration (EAI) contributed 39% of the revenues; infrastructure management services (IMS) 42%, and products 10% in the nine months ended December 2007. The Top 5 clients contributed 14.89% and top 10 clients 21.90% of the total revenue.
GSI has four delivery centres: two offshore centres in Hyderabad, with capacity of 270 employees; and two nearshore centres in Chicago, US, with capacity of 150 employees. The employee strength is 717. Of this, 400 are onsite. The average offshore experience is about six years. The onsite/offshore mix by revenue stands at 75:25 and by efforts 50:50.
Since incorporation, GSI has made three acquisitions. US-based consulting company Infospectrum Consulting Inc. was taken over from 1 April 2006. Infospectrum Consulting reported revenue of Rs 75.95 crore with net profit of Rs 12.45 crore in the nine months ended December 2007. All the shares of US-based System Dynamix Corporation was acquired through 100% subsidiary GSS America Inc. in December 2007 for US$ 6 million in cash and US$ 6 million in net current assets along with an earn-out of maximum US$ 6 million over three years. System Dynamix clocked revenues of US$ 23 million with net income of US$ 2.75 million in calendar year 2007.
The net proceeds of the initial public offering (IPO) would be utilised to set up Global Delivery Centre (GDC), with a capacity of 1,000 employees, at a cost of Rs 66.10 crore in Hyderabad by March 2009; to set uo overseas offices in Europe, Middle East and Far East at a cost of Rs 9.81 crore; to meet working capital requirement (Rs 25 crore); and the balance for acquisitions and issue expenses.
Strengths
- Margin has been continuously increasing despite the pressures of rupee appreciation, proving operational efficiencies and high billing rates. Operating profit margin went up from 17.7% in the year ending March 2006 (FY 2006) to 25.8% in the nine months ended December 2007.
Weaknesses
- All the revenue accrues from the US. Thus, prone to the fallout of US recession and dollar depreciation.
- Operations are project based and are mainly time and material contracts, increasing the risk of termination of contracts. This could impact revenue and profit.
Valuation
At the price band of Rs 400-Rs 440, P/E works out to 9.1-10 times on annualised nine-month EPS of Rs 43.9. The IT sector has been suffering severely from adverse market sentiments. Most IT stocks including majors have been beaten down substantially. Comparable IT companies with high onsite contribution are Zylog Systems (trading at 6.4 times its trailing 12-month EPS of Rs 45.7) and Prithvi Information Solutions (trading at 5.9 times its TTM EPS of Rs 55.5).
India Real Estate Developers
Goldman Sachs in their real estate report...
India: Real Estate Developers
Cause for pause: Downgrade coverage view; Ansal off Conv. Buy list
Downgrade coverage view to Neutral from Attractive
We are downgrading our coverage view on India Property to Neutral from Attractive, principally on valuation grounds. We see only aggregate 9% potential upside (mkt cap weighted) for our coverage universe that now
includes DLF, based on new target prices rolled forward to FY2009E.
Although we believe residential prices have risen in some major markets over the past year, Gurgaon, which is an important market for our coverage, appears to have experienced a correction in some pockets. Any
prolonged weakness in Gurgaon could present downside risk to our RNAV projections. We rate both DLF and Unitech as Neutral.
We are removing Ansal Properties from the Conviction Buy list.
Neutral on DLF and Unitech
DLF is better placed than most peers to execute on its pipeline given its strong management team, scale and strategic tie ups, in our view.
However, we are Neutral as valuation appears full and our 12-month FY2009E potential RNAV-based target price of Rs923 implies only 6% potential upside. We maintain Neutral on Unitech, but revise our 12-month
FY2009E potential RNAV-based target price to Rs409 from Rs330, implying 12% potential upside. We believe the stock is not pricing in land acquisitions that are currently in progress.
Ansal Properties: Taking off Conviction list; retain Buy
We are removing Ansal Properties from the Conviction Buy list as we have limited visibility on when option value on its Hi-Tech City project in Greater Noida is likely to be realised. The stock could remain on the sidelines until
the market gets greater confidence on the group’s execution capability. We still rate the stock Buy and our revised 12-month potential RNAV based target price of Rs367 (from Rs410), implies 48% potential upside.
Key risks to our coverage view
Upside risks: Land acquisitions, cap rate compression and technical factors such as liquidity and the inclusion of DLF and Unitech in major indices.
Downside risks: Execution, prolonged slowdown in residential demand.
Post Session Commentary - Feb 8 2008
The Sensex opened with a positive gap of 83 points at 17,610. After initial nervousness, the index rallied to a high of 17,689 in early deals.
Considerable weakness in financial heavyweights like HDFC and ICICI Bank saw the index drop to a low of 17,203 - down 486 points from the day's high - in noon deals.
Renewed buying in FMCG and technology stocks helped the index recover all losses and rebound into positive zone in mid-noon trades. The index, however, could not hold gains and slipped into negative zone in late trades. The Sensex finally ended with a loss of 62 points at 17,465.
The NSE Nifty was down 13 points at 5,120.
The BSE market breadth was significantly negative - out of 2,801 stocks traded, 2,248 declined today.
INDEX MOVERS...
Hindustan Unilever (HUL) zoomed 6% to Rs 212. ITC gained 2.5% at Rs 197.
Satyam and Infosys advanced nearly 5% each to Rs 410 and Rs 1,551, respectively. Wipro gained 3% to Rs 422, and TCS added 2% to Rs 900.
Ranbaxy and Bharti Airtel advanced 2.3% each to Rs 382 and Rs 882, respectively. SBI was up 1.7% to Rs 2,191.
...AND THE SHAKERS
HDFC plunged 4.5% to Rs 2,796. DLF and ICICI Bank tumbled around 3.5% each to Rs 817 and Rs 1,067, respectively.
HDFC Bank and Larsen & Toubro dropped around 3% each to Rs 1,446 and Rs 3,527, respectively.
Tata Steel and Bajaj Auto shed 2.7% each at Rs 750 and Rs 2,217, respectively.
Mahindra & Mahindra slipped over 2% to Rs 645. Hindalco declined 1.7% to Rs 161.
VALUE & VOLUME TOPPERS
Reliance Natural Resources topped the value chart with a turnover of Rs 574 crore followed by Reliance Energy (Rs 408 crore), Reliance (Rs 268 crore), Reliance Petroleum (Rs 212 crore) and Reliance Communications (Rs 181.70 crore).
Reliance Natural Resources led the volume chart with trades of around 3.80 crore shares followed by Ispat Industries (1.54 crore), Reliance Petroleum (1.29 crore), Nagarjuna Fertilisers (1.24 crore) and IFCI (1.10 crore).
NSE Bulk Deal Watch - Feb 8 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
08-FEB-2008,EMCO,Emco Limited,JM MUTUAL FUND A/C JM EMERGING LEADERSHIP FUND,BUY,64587,1238.92,-
08-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,KOTAK MAHINDRA (UK) LTD. A/C VOYAGER FUND MAURITIUS LTD.,BUY,200000,324.50,-
08-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,BUY,230000,330.00,-
08-FEB-2008,NETWORK18,Network 18 Fincap Limited,ACACIA INSTITUTIONAL PARTNERS L P,BUY,1362433,599.79,-
08-FEB-2008,NIITLTD,NIIT Limited,FID FDS MAURITIUS LTD,BUY,4000000,112.50,-
08-FEB-2008,TATASPONGE,Tata Sponge Iron Ltd.,KALIMATI INVESTMENT COMPANY LIMITED,BUY,92500,261.74,-
08-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,GANDHI NEHA NIKHIL,SELL,91335,344.05,-
08-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,GANDHI RUPALI,SELL,92000,344.05,-
08-FEB-2008,HORIZONBAT,HORIZON BATTERY TECH. LTD,KROSSLINK INFRASTRUCTURE LTD,SELL,430100,327.45,-
08-FEB-2008,NETWORK18,Network 18 Fincap Limited,QUANTUM M LIMITED,SELL,1347433,600.00,-
08-FEB-2008,NIITLTD,NIIT Limited,CLSA MAURITIUS LIMITED,SELL,4754344,112.73,-
BSE Bulk Deals to Watch - Feb 8 2008
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
8/2/2008 505506 AXON INFOTEC G B SECURITIES S 10000 55.00
8/2/2008 532363 COMP-U-LEARN SRECKO INDHAN LIMITED B 64525 22.14
8/2/2008 526550 COUNTRY CLUB MACQUARIE BANK LIMITED S 170584 675.00
8/2/2008 526033 CRYSTAL SOFT RICHLINE FINVEST PRIVATE LTD S 38400 10.23
8/2/2008 532544 INDIABULLS SAMEER GEHLAUT B 1800189 665.71
8/2/2008 532544 INDIABULLS SONATA CAPITAL PVT LTD S 1426885 665.79
8/2/2008 530985 JPTSECURITII J P TOTLA HUF B 308400 16.20
8/2/2008 530985 JPTSECURITII SEWA RAM TOTLA HUF S 85000 16.20
8/2/2008 530985 JPTSECURITII OM PRAKASH TOTLA HUF S 134500 16.20
8/2/2008 530985 JPTSECURITII AMIT TOTLA S 87300 16.20
8/2/2008 512413 KHAITAN WVG VINAY SUDERSHAN GUPTA B 10000 60.47
8/2/2008 512413 KHAITAN WVG SURAJ STOCK BROKING LTD S 5000 60.24
8/2/2008 515093 MADHAV MAR G MEENAKSHI JATIA S 48415 66.00
8/2/2008 523221 MCS LIMITD HITESH SHASHIKANT JHAVERI B 25000 68.25
8/2/2008 523221 MCS LIMITD HITESH SHASHIKANT JHAVERI S 25000 68.25
8/2/2008 531996 ODYSSEY CORP VINAY SUDERSHAN GUPTA S 25000 36.23
8/2/2008 532606 PAREKH ALUM HALCYON TRADING PVT LTD B 80000 193.61
8/2/2008 532606 PAREKH ALUM KAMLESH M KANUNGO S 47659 195.00
8/2/2008 523710 SAYAJ HOTELS RUANE CUNNIFF GOLDFARB INC AC ACACIA INSTITUTIONAL PARTNERS LP B 208000 120.00
8/2/2008 523710 SAYAJ HOTELS CLEARWATER CAPITAL PARTNERS CYPRUS LTD S 248000 120.00
8/2/2008 526049 SHRILAKSHMI NAV NIRMAN MERCANTILES LTD B 79300 152.90
8/2/2008 526049 SHRILAKSHMI ASIAN PACIFIC CONTINENTAL P LIMITED B 83000 150.58
8/2/2008 530155 TONIRA PHARM IPCA LABORATORIES LIMITED B 44939 27.00
8/2/2008 531703 TRIBHVAN HSG SKYLINE TRACOM PVT LTD S 31993 29.00
8/2/2008 590048 TYCHE PERIPH RNA BUILDERS NG B 72000 88.49
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