Monday, April 21, 2008
The Sensex opened with a positive gap of 130 points at 16,611. The index moved in a narrow range of 169 points - low of 16,611, and a high of 16,779.
The Sensex finally ended with a gain of 258 points at 16,739.
The market breadth was extremely positive - out of 2,772 stocks traded, 2,050 advanced, 674 declined and the rest were unchanged today.
The NSE Nifty gained 79 points to close at 5,037.
Tata Steel soared 8.6% to Rs 777. Jaiprakash Associates surged 7.3% to Rs 233.
Reliance Communications rallied 5.5% to Rs 559. Ranbaxy and Bharti Airtel moved up nearly 4% each to Rs 499 and Rs 854, respectively.
HDFC Bank, SBI and ICICI Bank advanced 3.5% each to Rs 1,445, Rs 1,741 and Rs 864, respectively.
Hindalco and Grasim gained 3% each at Rs 192 and Rs 2,644, respectively.
NTPC and Larsen & Toubro added 2.5% each to Rs 194 and Rs 2,845, respectively.
Cipla gained 1.7% at Rs 226. Hindustan Unilever and ONGC were up 1.5% each at Rs 236 and Rs 1,031, respectively.
...AND THE SHAKERS
Satyam slipped over 2% to Rs 459. Infosys and Wipro declined over 1% each to Rs 1,645 and Rs 454, respectively.
VALUE & VOLUME TOPPERS
Debutant Titagarh Wagons topped the value chart with a turnover of Rs 367 crore followed by Orchid Chemicals (Rs 289.50 crore), Reliance (Rs 172.80 crore), Essar Oil (Rs 134 crore) and Reliance Capital (Rs 128.35 crore).
Ispat Industries led the volume chart with trades of around 1.85 crore shares followed by Sita Shree Foods (1.33 crore), Orchid Chemicals (1.14 crore), Centurion Bank of Punjab (1.10 crore) and Tata Teleservices (1.08 crore).
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
21/4/2008 532919 ALLIED COMP OM EDUCATION IT PVT LTD B 121845 25.37
21/4/2008 532919 ALLIED COMP OM EDUCATION IT PVT LTD S 139451 25.97
21/4/2008 506074 ARSHIYA INTL WF INDIA RECONNAISSANCE FUND LTD B 390000 207.00
21/4/2008 506074 ARSHIYA INTL FAIRDEAL INFORMATION TECHNOLOG S 500000 207.00
21/4/2008 505506 AXON INFOTEC DIVESH NAREDI S 5600 42.76
21/4/2008 532946 BANG MARUTI SECURITIES LTD B 100000 193.85
21/4/2008 532946 BANG CHANDRA FIN.SERV.PVT.LTD B 69682 192.44
21/4/2008 532946 BANG MARUTI SECURITIES LTD S 101209 191.80
21/4/2008 532946 BANG CHANDRA FIN. SERV. PVT. LTD S 69682 186.00
21/4/2008 512624 CHANDRIK TRA SECUROCROP SECURITIES INDIA PRIVATE LIMITED B 100000 3.41
21/4/2008 512624 CHANDRIK TRA ISABELLE TRADERS LTD S 100000 3.41
21/4/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1371984 7.35
21/4/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1379787 7.31
21/4/2008 517973 DMC INTER HITECH COMPUTECH PRIVATE LTD S 40000 14.22
21/4/2008 517973 DMC INTER NEERU GOEL S 19000 14.19
21/4/2008 532610 DWAR SUGAR MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. S.V. S 92878 57.87
21/4/2008 531144 EL FORGE LTD VIMAL JAIN B 100000 65.45
21/4/2008 531137 GEMSTONE INV DEEPA J SHAH B 50000 15.15
21/4/2008 531137 GEMSTONE INV HEMANT MADHUSUDAN SHETH B 50000 15.25
21/4/2008 511682 IFL PRMOTER HITECH COMPUTECH PRIVATE LTD S 20000 28.55
21/4/2008 532283 KASHYAP TEC OM EDUCATION IT PVT LTD B 2658267 2.01
21/4/2008 532283 KASHYAP TEC OM EDUCATION IT PVT LTD S 2622566 2.04
21/4/2008 531366 KOHINOOR BRO SARFARAZKHAN SARVARKHAN PATHAN B 2167335 10.47
21/4/2008 531366 KOHINOOR BRO SARFARAZKHAN SARVARKHAN PATHAN S 2171670 10.52
21/4/2008 590069 LAKSHMI VILA ROYAL BANK OF SCOTLAND PLC AS TRUSTEE OF B 200000 100.00
21/4/2008 590069 LAKSHMI VILA PINNACLE TRADES INVESTMENTS S 211500 100.00
21/4/2008 530543 MARG LTD CLSA MAURITIUS LIMITED S 134780 240.14
21/4/2008 532494 MICRO TECHN JRK CONSULTANTS PVT LTD B 52500 311.51
21/4/2008 531834 NATURA HUE C RAITHATHATHA PRADIP R S 74900 11.12
21/4/2008 524372 ORCHID CHEM LATIN MANHARLAL SEC PVT LTD B 512915 253.91
21/4/2008 524372 ORCHID CHEM LATIN MANHARLALSEC PVT LTD S 513014 253.99
21/4/2008 524372 ORCHID CHEM MACQUARIE BANK LIMITED S 500000 251.08
21/4/2008 590077 RANKLIN SOLU SHREERAM BAGLA B 25639 89.46
21/4/2008 514152 SHAMKE MULTI RAHUL C BAFNA B 100000 4.10
21/4/2008 526365 SHYAM STAR SHAILESH BABULAL SHAH S 43515 107.80
21/4/2008 526365 SHYAM STAR MATHURBHAI GAGJIBHAI JIVANY S 43322 106.60
21/4/2008 532961 SITA SHREE ASSET ALLIANCE SEC PVT LTD B 363865 57.70
21/4/2008 532961 SITA SHREE EUREKA STOCK AND SHARE BROKING SERVICES LTD. B 211582 59.87
21/4/2008 532961 SITA SHREE DEVANG M SHAH B 264203 58.31
21/4/2008 532961 SITA SHREE JMP SECURITIES PVT. LTD. B 159066 61.15
21/4/2008 532961 SITA SHREE AMIT M GALA B 217086 57.54
21/4/2008 532961 SITA SHREE MANOJ NANDKISHOR TEKRIWAL B 361789 57.81
21/4/2008 532961 SITA SHREE ASSET ALLIANCE SEC PVT LTD S 363865 57.51
21/4/2008 532961 SITA SHREE EUREKA STOCK AND SHARE BROKING SERVICES LTD. S 211582 59.81
21/4/2008 532961 SITA SHREE DEVANG M SHAH S 264203 58.09
21/4/2008 532961 SITA SHREE JMP SECURITIES PVT. LTD. S 123566 60.94
21/4/2008 532961 SITA SHREE AMIT M GALA S 217086 57.40
21/4/2008 532961 SITA SHREE MANOJ NANDKISHOR TEKRIWAL S 211789 61.95
21/4/2008 512048 SPLASH MEDIA KISHOR B GIRI S 11500 100.36
21/4/2008 532966 TITAGARH WAG EUREKA STOCK AND SHARE BROKING SERVICES LTD. B 93945 683.55
21/4/2008 532966 TITAGARH WAG R M SHARES TRADING PVT LTD B 126756 684.13
21/4/2008 532966 TITAGARH WAG B K SHAH CO B 270898 681.46
21/4/2008 532966 TITAGARH WAG CITIGROUP GLOBAL MARKRTS MAURITIUS P LTD B 150000 670.47
21/4/2008 532966 TITAGARH WAG R M SHARES TRADING PVT LTD S 126756 682.32
21/4/2008 532966 TITAGARH WAG B K SHAH CO S 270898 682.78
21/4/2008 532966 TITAGARH WAG EUREKA STOCK AND SHARE BROKING SERVICES LTD. S 93945 683.71
21/4/2008 523628 WEAROLOGY LT MAVI INVESTMENT FUND LTD B 50000 119.15
The market remained upbeat on the extended day's trading session and registered gains of more than 200 points during the intra-day trades on phenomenal buying in metal, banking and consumer durable (CD) stocks. The Sensex resumed on a firm note at 16,611 and moved past the 16,700 mark in early trades. The index remained above the crucial level for the rest of the trading session and advanced further to touch the intra-day high of 16,779, up 298 points from the day's low of 11,882. The Sensex finally ended 1.57% higher or up 258 points at 16,739, while the Nifty rose 1.59% or 79 points to close at 5,037.
Metal stocks were the clear winner among the index stocks. Tata Steel led the upsurge and flared up 8.61% at Rs776.80, while Jindal Steel vaulted 5.07% at Rs2,122.15 and Sh Precoated scaled up 4.98% at Rs200.45. Among other major gainers, SAIL (Steel Authority of India Ltd) shot up by 4.33% at Rs178.40, ISPAT Industries advanced 3.19% at Rs33.95, NALCO (National Aluminium Company) surged 3.09% at Rs435.95 and Hindalco (Hindustan Aluminium Company) added 2.95% at Rs191.85. JSW at Rs833.70, Maharashtra Seamless at Rs1.98, Welspun Gujarat at Rs1.98, Gujarat NRE at Rs158.98, Bhushan Steel at Rs816.10 and Jindal Saw at Rs1.19 gained around 1-2% each. Satyam Computer went up by 2.13% at Rs458.95, while Infosys and Wipro ended with modest losses.
Banking stocks, too, attracted relentless buying. Axis Bank rose 6.83% at Rs881.10, Bank of India jumped by 4.91% at Rs336.60. Union Bank at Rs165.60, Bank of Baroda at Rs310, Central Bank of Punjab at Rs46.65, HDFC Bank at Rs1445.25, SBI at Rs1741 and ICICI Bank at Rs863.55 moved up by 3-4% each. Among the gainers in CD stocks, Videocon Industries, Bluestar, Lloyd Electric, Gitanjali, Titan and Rajesh Export gained between 0.50- 6% each.
Over 1.84 crore ISPAT Industries shares changed hands on the BSE (Bombay Stock Exchange) followed by Sita Shree Food products (1.32 crore shares), Orchid Chemicals (1.13 crore shares), Central Bank of Punjab (1.09 crore shares), Tata Teleservices (1.08 crore shares) and Nagarjuna Fertilisers (1.04 crore shares).
The Indian stock market mirrored gains in global counterparts to posts decent rise, shrugging off a steep 50 basis points hike in cash reserve ratio (CRR) announced by the Reserve Bank of India late on Thursday, 17 April 2008. The market was closed on Friday, 18 April 2008, for a public holiday. With today’s gains, the market has now advanced for fifth straight day.
As per provisional data, foreign institutional investors (FIIs) today bought shares worth a net Rs 169.66 crore. Domestic funds purchased stocks worth a net Rs 111.58 crore.
Asian markets, which opened before Indian markets, surged on hopes the worst was over for the banking sector, following the top US lender Citigroup’s announcement of a quarterly loss of $5.1 billion and plans to cut another 9,000 jobs. Japan's Nikkei (up 1.63% at 13,697.69), Hong Kong's Hang Seng (up 2.17% at 24,721.67), Singapore's Straits Times (up 1.48% at 3,171.09), Shanghai Composite (up 0.72% to 3,116.97), South Korea's Seoul Composite (up 1.61% at 1,800.48) and Taiwan's Taiwan Weighted (up 0.10% at 9,083.12) advanced.
European markets, which opened after Indian markets, were trading lower. Key benchmark indices in France (down 0.71% to 4,926.50) and Germany (down 0.48% to 6,812.49) slipped. However United Kingdom’s FTSE 100 index was up 0.18% to 6,067.10.
The 30-share BSE Sensex was up 258.13 points or 1.57% at 16,739.33. It opened with an upward gap of 130 points at 16,611.41 and advanced further to hit a high of 16,778.59 in early trade. At the day’s high, the Sensex gained 279.39 points.
The BSE Sensex has now gained 1,044.23 points or 6.65% in five straight sessions from 15,695.10 on 10 April 2008
The broader based S&P CNX Nifty was up 78.60 points or 1.59% at 5,037. Nifty gained 95 points at an intra-day high of 5053.40. Nifty April 2008 futures were at 5045, a premium of 8 points as compared to spot closing.
Turnover in NSE’s futures & options segment amounted to Rs 40635.23 crore as compared to Rs 42461.28 crore on Thursday, 17 April 2008.
The market breadth was strong. Metal shares staged a strong comeback after the recent correction. Banking shares rose taking the hike in CRR in their stride. However IT pivotals retracted from day’s high hit in early trade on profit booking. They had logged handsome gains last week buoyed by encouraging guidance from IT bellwether Infosys Technoligies.
The market breadth was strong. On BSE, 2038 shares advanced as compared to 677 that declined. 56 remained unchanged. 20 from the 30-member Sensex pack advanced.
Most sectoral indices on BSE posted gains. The BSE Consumer Durables index (up 3.26% to 4,356.38), the BSE Bankex (up 3.43% at 8,580.72), the BSE Health Care index (up 1.87% at 4,161.27), the BSE Metal index (up 3.78% to 15,214.69), the BSE Capital Goods index (up 2.07% at 13,669.39), and the BSE PSU index (up 2.05% to 7,899.16), outperformed the Sensex.
The BSE IT index (down 1.03% to 4,108.14), the BSE Auto (up 0.85% at 4,548.08), the BSE TecK index (up 0.88% to 3,343.84), the BSE FMCG index (down 0.06% at 2,366.13), the BSE Oil & Gas index (up 0.93% to 11,516.98), the BSE Realty index (up 0.48% at 7,675.77), the BSE Power (up 1.14% to 3,281.29), underperformed the Sensex.
The BSE Mid-Cap index rose 2.15% to 6,983.26 and the BSE Small-Cap index advanced 2.60% to 8,752.83, as per provisional closing. Both these indices outperformed the Sensex
Shares from metal sector made a comeback after recent correction. India’s largest private sector steel manufacturer in terms of sales, Tata Steel galloped 8.72% to Rs 777.55 and was the top gainer from Sensex pack.
Hindalco Industries (up 2.95% to Rs 191.85), National Aluminium (up 3.09% to Rs 435.95), Jindal Steel & Power (up 5.07% to Rs 2,122.15), JSW Steel (up 2.85% to Rs 833.70), and Steel Authority of India (up 4.33% to Rs 178.40) gained.
India’s largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) was up marginally by 0.04% to Rs 2,638. As per reports, RIL has formed a joint venture with Marks & Spencer Group Plc, the U.K.'s largest clothing retailer, to open at least 50 stores in India over the next five years. RIL will declare its quarterly results today.
IT pivotals cooled off after strong start. Infosys Technolgies, the country’s second largest software services exporter slipped 1.29% to Rs 1,645 and was the top loser from Sensex pack. Last week, IT bellwether Infosys said it saw significant growth opportunities in the medium to long term. It, however, may face short-term challenges due to global economic uncertainties
India’s third largest software services exporter Wipro was down 1.24% to Rs 453.50 after striking an intra-day high of Rs 481. The company on Friday, 18 April 2008, reported 3% growth in its net profit to Rs 880 crore on 7.5% growth in topline to Rs 5,700 crore in Q4 March 2008 over Q3 December 2007. With uncertainty in the business environment, the company is conservative about forecasts. For the first quarter of fiscal 2009, Wipro expects revenue from combined IT services to be $1,060 million.
Shares of India’s fourth largest IT services firm by sales Satyam Computer Services slipped from day’s high of Rs 488 and settled 2.53% lower at Rs 457.10. The company reported 17.84% rise in net profit to Rs 468.45 crore on growth in total income of 31.45% to Rs 2337.84 crore in Q4 March 2008 over Q4 March 2007
For FY 2009, under US GAAP, revenue is expected to rise between 24.0% to 26.0% to $2.65 billion and $ 2.69 billion in FY 2009 over FY 2008. Basic earning per American depository share (ADS) is expected to rise by 15.2% - 17.6% to $ 1.44 and $ 1.47, in FY 2009 over FY 2008, Satyam said.
TCS, the country’s top software services exporter slipped 0.98% to Rs 991.05. As per earnings preview of five prominent brokerages, IT giant Tata Consultancy Services (TCS) is seen reporting a between 3.1% fall to a 5.5% growth in its consolidated net profit as per US Generally Accepted Accounting Practices (GAAP) at between Rs 1290.10 crore to Rs 1403.60 crore in Q4 March 2008 over Q3 December 2007. The five brokerage expect a between 3.3% to 5.3% growth in revenue at between Rs 6117.90 crore to Rs 6237 crore in Q4 March 2008 over Q3 December 2007.
Analysts say the key things to watch out is future outlook on pricing and volume growth that the TCS management may give at the time of announcing the Q4 results. TCS unveils Q4 results today, 21 April 2008.
Banking shares surged in late trade despite hike in the cash reserve ratio. ICICI Bank (up 4.17% to Rs 870), State Bank of India (up 3.71% to Rs 1,745.30), and HDFC Bank (up 3.62% to Rs 1,447.00), edged higher.
The unscheduled CRR rate hike comes ahead of RBI's annual credit policy for 2008-09 to be unveiled on 29 April 2008. The RBI joined the government in battling the skyrocketing inflation. The wholesale price index rose 7.14% in the 12 months to 5 April 2008, as per latest data. This was slower than the previous week's annual rise of 7.41%.
CRR is the amount of money banks have to keep with RBI as a percentage of their liabilities (deposits). CRR hike will be introduced in two stages. In the first stage, RBI will raise CRR by 25 basis points to 7.75% on 26 April 2008. Another 25 basis point hike will come into effect from 10 May 2008. As a result of the increase in CRR, about Rs 18,500 crore of' banks resources would be taken out of the system.
India’s largest private sector engineering company in terms of outstanding order book position Larsen & Toubro gained 2.49% of Rs 2845 after the company said it plans to develop a commercial complex at Seawoods railway station, Navi Mumbai over 40 acres of land for Rs 3500 crore. The company made this announcement during trading hours today, 21 April 2008.
Bharti Airtel (up 3.25% to Rs 850), Jaiprakash Associates (up 7.32% to Rs 233.15), Ranbaxy Laboratories (up 4.21% to Rs 500) and Reliance Communications (up 5.69% to Rs 560.55), edged higher from the Sensex pack.
Mahindra & Mahindra (down 0.92% to Rs 633) and Bharat Heavy Electricals (down 0.18% to Rs 1,782) edged lower from Sensex pack.
Titagarh Wagons settled at Rs 707.20, a premium of 30.96% over its issue price of Rs 540. 53.47 lakh shares changed hands on the counter on BSE. It listed at Rs 550 on BSE, a 1.85% premium over its issue price.
Titagarh Wagons was the top traded counter on BSE with turnover of Rs 366.69 crore followed by Orchid Chemicals (Rs 289.56 crore), Reliance Industries (Rs 172.89 crore), Essar Oil (Rs 133.92 crore) and Reliance Capital (Rs 128.37 crore) in that order
Ispat Industries topped the volumes charts on BSE, clocking total volumes of 1.84 crore shares followed by Sita Shree Foods (1.32 crore shares), Orchid Chemicals (1.13 crore shares), Centurion Bank of Punjab (1.09 crore shares) and Tata Teleservices (Maharashtra) (1.08 crore shares) in that order.
Among side counters, Archies (up 20% to Rs 111.60), Revathi Equipments (up 19.97% to Rs 1248), Gati (up 19.96% to Rs 122), TVS Electronics (up 19.92% to Rs 43.35), and EL Forge (up 19.99% to Rs 71.55), surged.
However, Arvind Chemicals (down 10% to Rs 38.30), Orchid Chemicals (down 10.71% to Rs 249.40) and salora International (down 7.67% to Rs 166.20) slipped.
Garware Offshore Services surged 6.40% of Rs 270.30 after the company said it has secured a contract for upto three years for its new anchor handling tug cum supply vessel being delivered in Singapore in June 2008. The company made this announcement during trading hours today, 21 April 2008.
Axis Bank rose 6.83% to Rs 881.10 after bank’s net profit rose 70.56% to Rs 361.4 crore on 56.57% rise in total income to Rs 2571.9 crore in Q4 March 2008 over Q4 March 2007. The bank’s net profit rose 62.51% to Rs 1071.03 crore on 60.84% rise in total income to Rs 8800.8 crore in FY 2008 over FY 2007.
Biocon soared 12.8% of Rs 504.85 after the company said it has scheduled a board meet on 22 April 2008 to consider bonus issue. The company made this announcement during trading hours today, 21 April 2008.
India Infoline gained 1.93% of Rs 893.75 after the company said on 17 April 2008 it has scheduled a board meet on 26 April 2008 to consider stock split. The company made this announcement after trading hours on Thursday, 17 April 2008.
Suzlon Energy gained 2.08% of Rs 305.75 after the company said on 17 April 2008 its wholly owned subsidiary Suzlon Energy (Tianjin) has secured orders totaling nearly 200-megawatt of capacity for wind farm projects in China. The company made this announcement on Friday, 18 April 2008.
Dish TV India jumped 17.51% to Rs 64.90 after the company said its board will meet on 24 April 2008 to consider the proposal for raising funds through rights issue. The company made this announcement after market hours on Thursday, 17 April 2008.
Dabur Pharma jumped 6.22% of Rs 73.45 after the company said its promoters and other shareholders have agreed to sell 73.27% in the company to Singapore based Fresenius Kabi Pte for Rs 76.50 per share. Fresenius Kabi Pte is a unit of European based healthcare firm Fresenius SE, which makes anti-cancer drugs.
Shipping Corporation of India rose 9.64% to Rs 241.75 on reports the company may consider a bonus issue in the near future.
Sasken Communication Technology surged 32.62% to Rs 190.90 after its board approved a proposal for buyback of shares from open market at a price not exceeding Rs 260 per share for an aggregate amount of Rs 40 crore. The company made this announcement on Saturday, 19 April 2008.
Meanwhile short-selling, that is selling a stock that you do not own, and making profit when the price falls, will be allowed from today, 21 April 2008, following a new set of guidelines and procedures, for both institutional and retail investors. The new system provides for borrowing shares for a seven-day period and using them to settle the sale of shares within a T+2 (trading day + two days) deadline.
Initially, short-selling will be permitted only in 227 stocks that are also traded in the futures and options segment, where deals can be entered into for making transactions at a future date. Later, the stock exchanges may decide to extend short-selling to a larger universe of stocks.
US markets surged on Friday, 18 April 2008, as Citigroup, Google and Caterpillar posted results that topped analyst estimates. The Dow Jones rose up 1.81% to 12,849.36, the Nasdaq Composite index surged 2.61% to 2,402.97. The S&P 500 gained 24.77 points at 1,390.33.
India's monsoon rains are likely to be near normal this year, the Indian Meteorological Department (IMD) forecasted on Wednesday, 16 April 2008, promising robust harvests which could bolster growth in the country and soothe global food worries.
Meanwhile, as per reports, Reliance Money plans to launch an over-the-counter bullion trading platform along with the Bombay Stock Exchange (BSE) and the Bombay Bullion Association. The online trading platform, to be launched in a month, will allow trading in gold and silver by jewellers and retail investors. For the settlement of the trades, a separate company would be formed with Reliance Money, BSE, National Multi-Commodity Exchange, Bombay Bullion Association and IT People (India).
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
21-Apr-08,APTECHT,Aptech Limited,MORGAN STANLEY DEAN WITTER MAURITIUS CO. LTD,BUY,232501,272.69,-
21-Apr-08,BANG,Bang Overseas Limited,CHANDRA FINANCIAL SERVICES PVT LTD,BUY,100000,192.81,-
21-Apr-08,ITI,ITI Ltd.,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,145772,42.46,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,P R B SECURITIES PRIVATE LTD,BUY,364167,257.49,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,PRASHANT JAYANTILAL PATEL,BUY,614196,254.43,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,SANJAY BHANWARLAL JAIN,BUY,457113,252.13,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,SURESH U.TREVADIA,BUY,701161,254.21,-
21-Apr-08,SASKEN,Sasken Commu Techno Ltd,A K G SECURITIES AND CONSULTANCY LTD.,BUY,168038,185.17,-
21-Apr-08,SASKEN,Sasken Commu Techno Ltd,P R B SECURITIES PRIVATE LTD,BUY,361942,185.57,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ADROIT FINANCIAL SERVICES PVT LTD,BUY,386561,58.59,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ASSET ALLIANCE SECURITIES PVT. LTD.,BUY,272231,57.6,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,156890,59.25,-
21-Apr-08,SITASHREE,Sita Shree Food Products,DEVANG MAHENDRA SHAH,BUY,117377,57.39,-
21-Apr-08,SITASHREE,Sita Shree Food Products,GOPAL TRADERS,BUY,215000,54.86,-
21-Apr-08,SITASHREE,Sita Shree Food Products,MAHESH CHAND MITTAL,BUY,100000,57.69,-
21-Apr-08,SITASHREE,Sita Shree Food Products,MANOJ NANDKISHOR TEKRIWAL,BUY,237980,58,-
21-Apr-08,SITASHREE,Sita Shree Food Products,NISSAR BROTHERS,BUY,188077,57.87,-
21-Apr-08,SITASHREE,Sita Shree Food Products,PRASHANT JAYANTILAL PATEL,BUY,500715,57.18,-
21-Apr-08,SITASHREE,Sita Shree Food Products,RUPESH KIRIT DALAL,BUY,593781,58.13,-
21-Apr-08,SITASHREE,Sita Shree Food Products,SANJAY BHANWARLAL JAIN,BUY,224511,57.08,-
21-Apr-08,SITASHREE,Sita Shree Food Products,TRANSGLOBAL SECURITIES LTD.,BUY,257958,58.82,-
21-Apr-08,SITASHREE,Sita Shree Food Products,VICKY RAJESH JHAVERI ,BUY,225689,55.95,-
21-Apr-08,SITASHREE,Sita Shree Food Products,YES INVESTMENTS VISHAL KISHORE BHATIA,BUY,125000,57.54,-
21-Apr-08,TWL,Titagarh Wagons Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,93170,686.91,-
21-Apr-08,TWL,Titagarh Wagons Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,141421,686.01,-
21-Apr-08,TWL,Titagarh Wagons Limited,B K SHAH CO KETAN BHAILAL SHAH,BUY,319148,679.79,-
21-Apr-08,TWL,Titagarh Wagons Limited,CITI GROUP A/C INDEA CAPITAL,BUY,150000,673.22,-
21-Apr-08,TWL,Titagarh Wagons Limited,DINESH MUNJAL,BUY,113026,688.67,-
21-Apr-08,TWL,Titagarh Wagons Limited,J P M S L A/c Copthall Mauritius Investment Ltd,BUY,215000,666.61,-
21-Apr-08,TWL,Titagarh Wagons Limited,MACQUARIE BANK LIMITED,BUY,137723,684.81,-
21-Apr-08,TWL,Titagarh Wagons Limited,MANIPUT INVESTMENTS PVT LTD,BUY,113733,684.38,-
21-Apr-08,TWL,Titagarh Wagons Limited,PRASHANT JAYANTILAL PATEL,BUY,238667,690.23,-
21-Apr-08,TWL,Titagarh Wagons Limited,R.M. SHARE TRADING PVT LTD,BUY,151653,681.24,-
21-Apr-08,BANG,Bang Overseas Limited,STUPENDORS TRADERS PVT LTD,SELL,84568,193,-
21-Apr-08,DWARKESH,Dwarikesh Sugar Industrie,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,92000,57.88,-
21-Apr-08,ITI,ITI Ltd.,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,141250,42.2,-
21-Apr-08,MLL,Mercator Lines Limited,DEUTSCHE BANK AG LONDON,SELL,1181500,89.69,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAPO,SELL,399341,259.4,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,MACQUARIE BANK LIMITED,SELL,1000000,251.59,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,P R B SECURITIES PRIVATE LTD,SELL,364167,257.69,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,PRASHANT JAYANTILAL PATEL,SELL,614196,254.21,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,SANJAY BHANWARLAL JAIN,SELL,457113,252.44,-
21-Apr-08,ORCHIDCHEM,Orchid Chemicals Ltd.,SURESH U.TREVADIA,SELL,703913,254.33,-
21-Apr-08,SASKEN,Sasken Commu Techno Ltd,A K G SECURITIES AND CONSULTANCY LTD.,SELL,163633,185.62,-
21-Apr-08,SASKEN,Sasken Commu Techno Ltd,P R B SECURITIES PRIVATE LTD,SELL,361942,186,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ADROIT FINANCIAL SERVICES PVT LTD,SELL,386561,58.6,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ASSET ALLIANCE SECURITIES PVT. LTD.,SELL,272231,57.93,-
21-Apr-08,SITASHREE,Sita Shree Food Products,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,154379,59.34,-
21-Apr-08,SITASHREE,Sita Shree Food Products,DEVANG MAHENDRA SHAH,SELL,117377,58,-
21-Apr-08,SITASHREE,Sita Shree Food Products,GOPAL TRADERS,SELL,119663,56.21,-
21-Apr-08,SITASHREE,Sita Shree Food Products,MAHESH CHAND MITTAL,SELL,113820,59.73,-
21-Apr-08,SITASHREE,Sita Shree Food Products,MANOJ NANDKISHOR TEKRIWAL,SELL,87980,61.9,-
21-Apr-08,SITASHREE,Sita Shree Food Products,NISSAR BROTHERS,SELL,188077,57.83,-
21-Apr-08,SITASHREE,Sita Shree Food Products,PRASHANT JAYANTILAL PATEL,SELL,500715,56.21,-
21-Apr-08,SITASHREE,Sita Shree Food Products,RUPESH KIRIT DALAL,SELL,593781,58.19,-
21-Apr-08,SITASHREE,Sita Shree Food Products,SANJAY BHANWARLAL JAIN,SELL,224511,57.08,-
21-Apr-08,SITASHREE,Sita Shree Food Products,TRANSGLOBAL SECURITIES LTD.,SELL,252958,58.88,-
21-Apr-08,SITASHREE,Sita Shree Food Products,VICKY RAJESH JHAVERI ,SELL,225689,59.94,-
21-Apr-08,SITASHREE,Sita Shree Food Products,YES INVESTMENTS VISHAL KISHORE BHATIA,SELL,125000,58.25,-
21-Apr-08,TWL,Titagarh Wagons Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,92170,686.5,-
21-Apr-08,TWL,Titagarh Wagons Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,141421,686.35,-
21-Apr-08,TWL,Titagarh Wagons Limited,B K SHAH CO KETAN BHAILAL SHAH,SELL,319147,678.43,-
21-Apr-08,TWL,Titagarh Wagons Limited,BIRLA MUTUAL FUND,SELL,98752,690.04,-
21-Apr-08,TWL,Titagarh Wagons Limited,DINESH MUNJAL,SELL,113026,685.53,-
21-Apr-08,TWL,Titagarh Wagons Limited,MACQUARIE BANK LIMITED,SELL,11130,654.96,-
21-Apr-08,TWL,Titagarh Wagons Limited,MANIPUT INVESTMENTS PVT LTD,SELL,113733,684.3,-
21-Apr-08,TWL,Titagarh Wagons Limited,PRASHANT JAYANTILAL PATEL,SELL,238667,688.19,-
21-Apr-08,TWL,Titagarh Wagons Limited,R.M. SHARE TRADING PVT LTD,SELL,151653,682.14,-
21-Apr-08,VISASTEEL,Visa Steel Limited,CREDIT SUISSE (SINGAPORE) LIMITED A/C CREDIT SUISSE (SINGAPO,SELL,556050,46.88,-
Following gains of over 650 points last week, the market bias may remain positive on strong fund buying into the local market and surging international indices. However, global crude oil prices trading above $117 a barrel and the continuing tension in the middle-east may hurt sentiment. Among the local indices, the Nifty could test 4975 and 5000 on the upside and may slip to 4900 on the downside. The Sensex has a likely support at 16400 and may face resistance at 16550. On the earnings front Axis Bank, Escorts, Glaxosmith, Jain Irrigation System, Macmilan Industries, Satyam Computer, TCS, United Spirits and United Breweriesare expected to announce their quarterly numbers.
Major US indices registered significant gains on Friday, with the Dow Jones flared up by 229 points at 12849, the Nasdaq moved up by 61 points to close at 2403.
All of the Indian ADRs traded firm on the US bourses. Satyam Computer led the pack with gains of over 7% while Wipro, Infosys, Rediff, MTNL, HDFC Bank, ICICI Bank, Patni Computer and Tata Motors jumped over 1-5% each. While, Dr Reddy's ended with the marginal gain of 0.26% and VSNL remained unchaged.
Crude oil prices gained, with the Nymex light crude oil for May 08 delivery soared by $1.83 to close at $117 a barrel and in the commodity space, the Comex gold for June delivery lost $27.70 to settle at $915.20 an ounce.
Nifty (4958) Sup: 4850 Res: 5030
Buy LITL (481) SL 475 Tgt 495, 499
Buy HCL Tech (267) SL 262 Tgt 278, 280
Buy Cipla (222) SL 218 Tgt 230, 232
Sell ACC (800) SL 807 Tgt 788, 785
Sell India Cements (180) SL 185 tgt 172, 170
Don't cry over anyone who won't cry over you”
The bulls will hope not to cry soon. On Thursday, after markets closed, the RBI announced a hike in CRR. The expectations were always there but the timing caught many by surprise. Starting today investors can start to sell short and borrow and lend securities. Institutional investors not permitted to do intra day trade with shorts. To begin with securities in the Futures & Options (F&O) segment would be eligible for short selling. This is set to bring in more depth in the long run. However, margining of institutional trades in the cash market from today is expected to result in a further dip in volumes. This will have a severe impact on institutional trades.
US markets did well over the weekend. Asian markets too are cheerful this morning. Given the positive global cues, the Indian markets should be able to overcome the CRR hike news. The banking counters may see some weakness initially. ICICI Bank has reportedly hiked rates for auto loans and other banks are expected to follow suit.
FIIs turned net buyers of Rs12.81bn in Index Future and by Rs11.65bn in index options. In Single Stock Futures, they were net buyers of Rs4.43bn. In the cash segment (provisional) , FIIs were net buyer by Rs5.97bn and DIIs were net sellers of Rs598.7mn.
Titagarh Wagons Limited will list on the bourses. The issue price was fixed at Rs540 per equity share for its initial public offering of 23,83,768 equity shares of Rs10 for cash at a price determined through 100% book building process. The issue was subscribed to 6.75 times. The qualified institutional bidder portion was subscribed approximately by 10.37 times, non institutional bidder portion by 2.77 times and retail bidder portion by 0.98 times.
The big ticket results today include Reliance, Satyam, TCS, Axis Bank and United Breweries.
Among the prominent headlines in the media include:
- Israeli investment firm Koor Industries on look out for a 10% stake in Tata Teleservices for US$720mn.
- Marks and Spencer forms retail JV with Reliance Retail
- Patni Computers is scouting for acquisitions in the consultancy space in Europe.
- Promoters of Dabur have sold Dabur Pharma to European firm Fresenius SE for Rs8.8bn.
- 3i Infotech raises Rs5bn debt to fund domestic buys.
- Infosys wins five-year contract from Conseco to provide development and maintenance services.
- Tata Power to enter in to a sourcing agreement with BHEL for all its future power projects.
- L&T may not sell it’s recently hived off ready-mix concrete division in 2008.
- Saffron Group picks up 30% stake in a realty project of Parsvnath Developers in Mumbai for Rs1.9bn.
- SCI likely to consider a bonus issue.
- Polaris to consider share buyback on April 23.
- ONGC has launched Rs63.4bn Mumbai High South redevelopment phase II.
- GMR Energy buys 5% equity stake in mining company Homeland South Africa for US$15mn.
- Abu Dhabi firm plans JV with Tata Group for developing a power plant in India.
- Punj Lloyd eyes Indian Army’s US$1bn contracts for artillery.
- Power Grid plans capital expenditure of Rs80bn in fiscal 2009.
Banks may CRRy
Indian bourses ended with smart gains on Thursday reaching a near six-week high on back of positive cues coming in from the international equity markets and buying momentum in the Realty, Metal and IT stocks. It was the third straight session of gains for the markets. The Realty stocks in particular were in demand also the IT stocks continued to be in momentum led by Infosys.
Among the 30-stocks of Sensex, 7 stocks ended in red and with Hindustan Unilever, L&T, RIL and REL were among the major laggards.
Finally, the BSE benchmark Sensex ended 237 points higher to close at 16,481 and the Nifty index ended 71 points higher to 4,958.
Overall about 2,020 stocks advanced; 711 stocks declined while 47 stocks remained unchanged. Among the 50-Nifty 42 stocks ended in green and 8 stocks ended in red.
Power Grid surged by over 3.5% to Rs102 after the company announced its FY08 results with net profit at Rs14.2bn (up 15.4%) and revenue at Rs47bn (up 15.1%). The company also announced its plans that they would spend Rs550bn in 11th Plan. The scrip touched an intra-day high of Rs104 and a low of Rs99 and recorded volumes of over 38,00,000 shares on BSE.
Hindustan Zinc surged by over 7% Rs591. India's largest producer of the metal announced that it cut zinc prices by 2.1% or by 2,300 rupees to Rs1,04,800 per metric ton, The hike will be effective starting April 17, 2008. The price of lead was left unchanged. The scrip touched an intra-day high of Rs595 and a low of Rs554 and recorded volumes of over 51,000 shares on BSE.
Century Plyboards was marginally up by half a percent to Rs690. The company announced that May 02, 2008 has been fixed as the Record Date for the purpose of split of equity shares of the company from face value of Rs10/- per share to face value of Rs1/- per share. The scrip touched an intra-day high of Rs718 and a low of Rs690 and recorded volumes of over 1,000 shares on BSE.
Hanung Toys surged by over 6% to Rs238 after the company said that the it signed MoU with a Chinese Company to buy latter's soft toy business in China by acquiring 100% stake in the said Company. The scrip touched an intra-day high of Rs244 and a low of Rs224 and recorded volumes of over 54,000 shares on BSE.
Sugar stocks were in momentum after government, scrapped a facility allowing duty-free raw sugar imports against exports at a later date as local stockpiles increased because of higher production. The concession on imports of raw sugar against the so-called advance lice BSE will be withdrawn with immediate effect, reports stated.
Dhampur Sugar surged by over 4% to Rs56, Balrampur Chini advanced by 3.5% to Rs98, Sakhti Sugar gained by 2% to Rs68 and Renuka Sugar added over 5% to Rs113.
GMR Infrastructure gained by 1.5% to Rs152 after the company’s unit acquired 5% of Homeland Mining and also has an option to buy additional 45% in Homeland. The scrip touched an intra-day high of Rs154 and a low of Rs151 and recorded volumes of over 10,00,000 shares on BSE.
UltraTech Cement was up by 0.5% to Rs783. According to reports, the company would setup a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs30bn. The scrip touched an intra-day high of Rs794 and a low of Rs773 and recorded volumes of over 12,000 shares on BSE.
M&M raced by over 3% to Rs638 after the company said that it inked 50:50 joint venture with South African international supply chain company, Capespan, through its agri-business initiative. The scrip touched an intra-day high of Rs642 and a low of Rs621 and recorded volumes of over 47,00,000 shares on BSE.
Polaris rallied by over 12% to Rs103 after the Board of Directors of the company announced that it would consider buy back on April 23. The scrip touched an intra-day high of Rs104 and a low of Rs92 and recorded volumes of over 16,00,000 shares on BSE.
On Monday, banks would come under pressure as in a statement, the Reserve Bank of India said, "On a review of current liquidity situation, it is considered desirable to increase the cash reserve ratio (CRR) of the scheduled commercial banks, regional rural banks (RRBs), scheduled state co-operative banks and scheduled primary (urban) co-operative banks by 50 basis points to 8.0% in two stages, effective from specified fortnights: First 25bps to be raised effective from April 26 and second would be effective from May 10.
- L&T Mitsubishi JV may win Rs480bn order from the union power ministry.(ET)
- AV Birla group to set up Rs6bn carbon black unit in Mexico.(BS)
- Coal India invites EOI from global mining firms for development of underground coal mines in seven blocks.(BL)
- Ispat Industries to raise Rs5bn through issue of share warrants to promoters.(BS)
- Shishir Bajaj raises his ownership in Bajaj Hindustan by nearly 5% in FY08.(ET)
- Maruti Suzuki decides to hike prices from first week of the next month.(TOI)
- M&M is in advanced stage of negotiation to acquire Belgium gear-maker VCST for US$475mn.(ET)
- Spanco Tele is close to winning the Common Services Centers contract worth Rs2bn.(BS)
- SAIL has decided not to increase prices for the moment.(BL)
- ADAG promoted Rosa power project is slated to be completed by the beginning of 2010, nine months ahead of schedule. (ET)
- Amtek Auto in talks with Sumitomo Corporation of Japan for a 50:50 JV in precision forgings.(DNA)
- ArcelorMittal has marked US$25bn for India plans. (TOI)
- TVS Motors incurs production and sales loss of Rs1bn due to ongoing litigation with Bajaj Auto over its 125cc motorcycle Flame.(DNA)
- Mahindra Lifespace to invest Rs10bn in four residential projects in NCR and Maharashtra over next three years.(BS)
- Hanung Toys signs a deal to acquire soft toys business of a Chinese firm for an undisclosed amount.(DNA)
- Jet Airways enters into partnership with Global Hotel Alliance. (ET)
- ONGC will invest Rs200bn in its different oil and gas recovery improvement programmes in the current fiscal.(DNA)
- Leela Group to invest Rs20bn over next three years to develop six new properties.(ET)
- Reliance Industries and Ballard Power Systems are in talks for a partnership in India. (DNA)
- Suzlon Energy secures orders for wind farm project in China. (ET)
- American Tower not in contention for Tata Teleservices’ tower arm.(ET)
- Greaves Cotton signs an agreement with Germany based Bomag to manufacture 19MT vibratory soil compactors.(ET)
- Indiabulls Financial forms an alliance with Sogecap, insurance subsidiary of Societe General.(ET)
Prices give up earlier losses
Crude prices reversed early losses and closed higher on Friday, 18 April, 2008. Supply concerns from Nigeria overpowered the effect of the rising dollar.
Crude-oil futures for light sweet crude for May delivery closed at $116.7/barrel (higher by $2/barrel or 2%) on the New York Mercantile Exchange. Prices touched $112/barrel during intra day trading. Crude prices are 6.2% higher this week and 90% higher on a yearly basis. For the year, crude is up by 20% till date.
Against this backdrop, May reformulated gasoline gained 3.15 cents to $2.9893 a gallon and May heating oil rose 2.49 cent to $3.2923 a gallon. May natural gas futures rallied 19.2 cents to $10.575 per million British thermal units.
Nasdaq witnesses its best weekly gains in almost eight months
It was totally a week for earning reports that dominated the week that ended on Friday, 18 April, 2008. The week ended in a fashion exactly opposite to the way it had ended last week. Better than feared earning reports and mixed data on the economic front took US market substantially higher for the week that ended on Friday, 18 April, 2008.
But half of the week’s gains was due to the huge gain incurred the by the market on Friday itself which was mainly instigated by higher-than-expected first quarter earnings from Google. Other than that, commodities once again reached a sky-high price, with crude oil ended the week up by 6% at $116.9/barrel. Hence, Energy was the best sector to end with gains for the week followed by Technology.
The Dow Jones Industrial Average gained 524 points for the week. Tech - heavy Nasdaq gained 112.7 points. S&P 500 gained 57.5 points. In percentage terms the three indices gained 4.1%, 4.9% and 4.3% respectively.
On Friday, 18 April, Google reported a earnings of $4.84 per share for its most recent quarter, beating estimates by a large margin. During its conference call Google stated that its paid advertising clicks were growing stronger than skeptics were speculating. The Google stock gained 20% on that day. It helped the tech sector outperform the other major economic sectors. Dow won a huge 229 points on that day itself.
Other earnings-related excitements came from Honeywell and Caterpillar on Friday itself. Both companies announced better than expected quarterly profits. That also gave a good boost to Dow and S&P 500 on that day.
With respect to the financial sector, earning reports were better than feared but with investment companies reporting losses one after the other, it was a reminder that business conditions are far from good. Wachovia, Merrill Lynch and Citigroup – all reported loss for the quarter. The only exception was with JP Morgan.
Other major names in the earnings front that hit the headlines during the week were Johnson & Johnson and UPS. While the former beat expectation, the later disappointed. Pfizer reported first quarter earnings which was a nickel short of the consensus estimate.
On the tech front, IBM announced its quarterly earnings beating estimates by a large margin. The company also upped its guidance for the full year. Other than beating earning estimate, Intel gave a reassuring outlook, which helped calm the market’s fears over demand and margins.
Among major economic report of the week, the Bureau of Labor Statistics revealed that producer prices rose 1.1% in March, which was well ahead of the 0.6% consensus estimate. That increase was driven primarily by higher energy and food costs. Excluding those items, producer prices were up just 0.2% in March. The Consumer Price Index (CPI) rose 0.3% and the core CPI rose 0.2%. Both matched expectations, but provided the market with some relief as they were better than feared after producer prices spiked higher.
Also, Housing starts and building permits fell by a larger than expected amount to their lowest levels since 1991. March housing starts plunged nearly 12% and Building permits decreased 5.8%, also falling to the lowest level since 1991.
For the week, indices registered huge gains. DJIx and S&P 500, each closed up by 4.1% and 4.3% respectively. Nasdaq closed up by 4.9%. Earning reports dominated the week. Commodities once again reached a sky-high price, with crude oil ended the week up by 6% at $116.9/barrel. Hence, Energy was the best sector to end with gains for the week followed by Technology.
Google, IBM and Intel came out with spectacular earning reports for their first quarter beating estimates and upping their guidance. Google stock soared 20% on Friday. Other major companies like J&J, Coco Cola also exceeded expectation. But Pfizer and UPS disappointed. In the financial sector, Wachovia, Merrill Lynch and Citigroup – all reported loss for the quarter. The only exception was with JP Morgan.
For the year, Dow, Nasdaq and S&P 500 are down by 3.1%, 9.4% and 5.3% respectively
Market Grape Wine :
In House :
Nifty at a supp of 4920 & 4870 levels with resistance at 5020 and 5090 levels .
Buy : Suzlon above 298 target 307 s/l of 294
Sell : Bhel below 1768 target 1720 s/l of 1790
Buy : in F&O MTNL above 108 taget 116 s/l of 104
Buy : in F&O LIC Hsng above 308 target 319 s/l of 302
Out House :
Markets at a support of 15919 & 16116 and resistance at 16786 & 16876 levels .
Buy : RPL & EssarOil
Buy : RIL
Buy : Bhel & LT at dips
Buy : SKumar & IOLN
Buy : MRPL
Buy : GujNRE
Buy : SBIN
Buy : Centurytex & Kotak
Dark Horse : EssarOil , Bhel , GujNRE , ITC , HLL , IOLN , RIL , LT & RPL