Thursday, September 17, 2009
The key indices today touched new record highs with the Nifty touching the high of 5003 and the Sensex crossing its 16820 level again. However selling of 1.5 crore shares by Reliance Industries kept the mood subdued. The market resumed at 16686 marginally up on firm global cues. While the mood remained upbeat on strong buying in teck, information technology (IT) and auto stocks. The market witnessed a steady decline towards the closing hours to slip and touched an intra-day low of 16636. The Sensex finally closed the session with marginal gains of 34 points at 16711, while the Nifty ended the session by adding 7 points at 4965.
The number of declining shares was more than advancing shares. On the BSE 1,223 stocks advanced, while 1,574 stocks declined. Teck, IT and auto stocks saw buying interest with BSE Tech, BSE IT and BSE Auto rising by 1.92%, 1.91% and 1.46% respectively. Oil & gas and realty scrips were down with BSE Oil & Gas and BSE Realty down by 2.86% and 0.91% respectively.
Among major gainers, ACC flared 3.65% to Rs827.95, Hindalco Industries added 3.62% to Rs136.05, Jaiprakash Associates shot up by 3.28% to Rs247.40, Bharti Airtel rose 3.13% to Rs433.15, Maruti Suzuki India moved up 3.08% to Rs1,559.35, Grasim Industries advanced 2.89% to Rs2769.65 and Wipro scaled 2.02% to Rs566.10. Among the scrips that were hit were Reliance Industries that dropped 4.45% to Rs2086.35, Tata Steel that slipped 1.97% to Rs521.15 and ITC that shed 1.02% to quote at Rs228.60.
Teck stocks saw strong buying interest. Patni Computer Systems flared 7.53% to Rs458.90, HCL Technologies rose 6.12% to Rs341.70, Tata Tele Service scaled up 5.41% to Rs35.05, Tanla Solution added 3.65% to trade at Rs69.50 and Bharti Airtel rose 3.13% to Rs433.15. However Financial Technologies slipped 1.86% to Rs1,384.80, NDTV lost 1.84% to quote at Rs163.05 and Television Eighteen India shed 1.77% to trade at Rs105.35.
Kingfisher Airlines shares was the most actively traded share with over 2.37 crore shares changing hands on the BSE followed by Spicejet (2.18 crore shares), NHPC (1.60 crore shares), Reliance Industries (1.29 crore shares) and Unitech (1.27 crore shares).
The market erased most of its initial gains to end the volatile session on the flat note as profit booking emerged during the trading. Shares of Reliance Industries contributed to drag the market lower as it closed with loss of more than 4%. Investors took calculative steps on fears of rise in interest rates that over looked the RBI’s statement that the central bank will not hike interest rates before economic recovery will come on track. Fears of rise in rates surfaced on account of increasing inflationary pressure. India’s inflation came in at 0.12% in week ended 5th September 2009, as against -0.12% in the previous week. Earlier during initial trading, market exhibited gains on positive global cues as Asian market ended in with good gains and European markets were in green. However rally was brief and selling pressure lugged the domestic bourses. The BSE Sensex ended around 6,700 level and NSE Nifty closed around 4,960 mark.
Market opened on upbeat note tracking firm cues from the global markets. The US markets closed with handsome gains on Wednesday, on strong economic data and firm cues from markets all over the world. Stocks rallied after industrial production increased 0.8% in August for second straight month, which is better than expected. In addition weakness in dollar boosted industrial and commodity stocks. Further, Indian benchmark managed to sustain the momentum till mid session and further pared most of the gains. Stocks continued to move between positive and negative terrain till end, on continuous bouts of buying and selling. From the Teck, IT, Auto, Bank and Consumer Durable stocks contributed to most of the buying. BSE Mid Caps and Small Caps stocks also remained on buyers’ radar. However, most of the selling was seen in Oil & Gas, Realty, PSU and Metal stocks.
Among the Sensex pack 22 stocks ended in green territory and 8 in red territory. The market breadth indicating the overall health of the market remained negative as 1574 stocks closed in red while 1223 stocks closed in green and 91 stocks remained unchanged in BSE.
The BSE Sensex closed marginally higher by 34.07 points at 16,711.11 and NSE Nifty ended slightly up by 7.15 points at 4,965.55. BSE Mid Caps and Small Caps closed with gains of 16.70 and 9.39 points at 6,143.62 and 7,317.50 respectively. The BSE Sensex touched intraday high of 16,820.02 and intraday low of 16,636.55.
Gainers from the BSE Sensex pack are ACC Ltd (3.65%), Hindalco (3.62%), JP Associates (3.28%), Bharti Airtel (3.13%), Maruti Suzuki (3.08%), Grasim Industries (2.89%), Wipro Ltd (2.02%), Infosys Tech (1.87%), TCS Ltd (1.69%), HDFC Bank (1.44%), HUL (1.26%), M&M Ltd (1.25%), RCom (0.99%), ONGC Ltd (0.99%), L&T Ltd (0.89%) and SBI (0.82%),
Losers from the BSE Sensex pack are Reliance (4.45%), Tata Steel (1.97%), ITC Ltd (1.02%), NTPC Ltd (0.71%), Herohonda Motors (0.65%) and Reliance Infra (0.42%).
The inflation finally pulled back into the positive territory for the first time since 30th May 2009. It remained in negative zone for 13 consecutive weeks. India’s inflation came in at 0.12% in week ended 5th September 2009, as against -0.12% in the previous week. Meanwhile, the rate was 12.42% in the corresponding week of previous year. The rate turned negative for the week ended 6th June 2009, for the first time since the new wholesale price index (WPI) series started in 1995. Inflation touched a high of 12.91% for the week ended 2nd August 2008 and touched a low of -1.74% on 1st August 2009.
On the global markets front, the Asian markets that opened before the Indian market, ended higher due to better economic data that raised hopes of strengthening of global economic recovery. Moreover, the Bank of Japan hold the key policy rate steady at 0.1% and moreover raised its assessment of the economy. Shanghai Composite, Hang Seng, Nikkei 225 and Seoul Composite closed up by 60.55, 365.59, 173.03 and 12.12 points at 3,060.26, 21,768.51, 10,443.80 and 1,695.47 respectively. However, Singapore''s Straits Times Index lost 1.82 points at 2,672.6 respectively.
European markets, which opened after the Indian market, are trading in green tracking Wall Street gains overnight.. In Paris the CAC 40 is higher by 18.86 points at 3,832.65, in Frankfurt DAX index is trading up by 33.16 points at 5,733.42 and in London FTSE 100 is trading higher 40.21 points at 5,164.34.
The BSE Teck index ended up by (1.92%) or 61.56 points 3,265.42. Gainers are Patni Computer (7.53%), HCL Teck (6.12%), Tata Teleservices (5.41%), Tanla (3.65%) and Bharti Airtel (3.13%).
The BSE IT index ended higher by (1.91%) or 85.40 points at 4,548.17 on strong US economic data. Gainers are Patni Computer (7.53%), HCL Teck (6.12%), Rolta India (2.89%), Wipro Ltd (2.02%) and Infosys Tech (1.87%).
The BSE Auto index gained (1.46%) or 93.36 points 6,467.21. Amtek Auto (14.58%), Cummins Indi (4.99%), Bharat Forge (4.35%), Maruti Suzuki (3.08%), and Exide Industries (2.97%) ended in green.
The BSE Oil & Gas index lost (2.86%) or 296.39 points at 10,079.36 after crude oil futures prices settled at their highest level this month overnight, as BPCL (4.99%), HPCL (4.98%), Reliance (4.45%), Reliance Pet (3.96%) and Gail India (0.69%) closed in negative terrain.
The BSE Realty index closed lower by (0.91%) or 40.74 points at 4,416.33. Losers are Unitech Ltd (3.04%), Pheonix Mill (2.39%), Pheonix Mill (2.39%), Indiabull Real (2.13%) and Penland Ltd (1.66%).
The BSE PSU index dropped by (0.35%) or 31.13 points at 8,756.75. Main losers are BPCL (4.99%), HPCL (4.98%), Power Finance (1.96%), J&K Bank (1.87%) and Bank Maha (1.70%).
Reliance Industries Ltd fell 4.45% after the company said that Petroleum Trust sold its 1.5 crore equity shares in the company.
Ranbaxy Laboratories Limited lost 1.17%. The company has entered into a strategic in-licensing agreement for the Indian market, with Medy-Tox Inc, (Medy-Tox), South Korea''s largest Botulinum -Toxin specialized Biotech Venture, for its cosmetic product, Neuronox.
ALSTOM ended up by 4.02%. The company and its consortium partners have signed a contract to supply the signalling system with the Bangalore Metro Rail Corporation Ltd for the first two lines of the new Bangalore metro system in India. Both lines will enter into revenue services in September 2012.
Great Offshore Ltd improved 0.30% after Bharati Shipyard hiked its stake in the offshore oil services firm to 22.5% by picking up additional 3.01% shares from the market.
TVS Motor Company Ltd dropped by 2.46% despite the Supreme Court yesterday allowed the company to sell its twin spark Flame motor bikes against a legal battle with larger rival Bajaj Auto.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
17/9/2009 533022 20 MICRONS HITESH SHASHIKANT JHAVERI B 81537 45.72
17/9/2009 530499 A K CAPITAL LIKHAMI LEASING LIMITED B 100000 226.68
17/9/2009 530499 A K CAPITAL DIPCO LTD B 235000 226.77
17/9/2009 530499 A K CAPITAL FIRSTRAND (IRELAND) PUBLIC LIMITED COMPANY S 343316 226.64
17/9/2009 517565 ASHCO NIUL AANGI SHARES & SERVICES PVT. LTD. B 467922 11.53
17/9/2009 517565 ASHCO NIUL AANGI SHARES & SERVICES PVT. LTD. S 467922 12.01
17/9/2009 500463 AVAYA GLOBAL BHAVIN Y MEHTA B 76718 187.55
17/9/2009 507944 BAJAJ STEEL HEMALATHA LODHA B 26469 191.61
17/9/2009 507944 BAJAJ STEEL ALOK JHAVER B 12364 188.74
17/9/2009 507944 BAJAJ STEEL VARUN MAHALSHEKAR S 13298 187.49
17/9/2009 507944 BAJAJ STEEL HEMALATHA LODHA S 12462 193.98
17/9/2009 532230 BENGAL TEA F SANDIP PRAVINCHANDRA VORA B 62401 37.78
17/9/2009 509475 BOMBAY PAINT HARDIK INDRAMAL JAIN B 8886 56.54
17/9/2009 523207 CAMLIN LIMIT COMGEST GROWTH INDIA S 300000 30.21
17/9/2009 532363 COMP-U-LEARN DECHAMNA M B S 200000 15.78
17/9/2009 521216 DHANALA RO S ANIRUDH INANI S 31000 5.75
17/9/2009 532022 FILAT FASH PRESILCO IMPEX LTD B 79295 42.00
17/9/2009 532022 FILAT FASH OM EDUCATION (IT) PVT LTD B 182329 43.73
17/9/2009 532022 FILAT FASH OMPARKASH GUPTA B 39341 43.08
17/9/2009 532022 FILAT FASH NARESHCHAND JAIN B 42845 40.46
17/9/2009 532022 FILAT FASH AMIT SHANTILAL MEHTA B 86008 41.92
17/9/2009 532022 FILAT FASH AADESH COMMODITIES PRIVATE LTD B 53190 43.07
17/9/2009 532022 FILAT FASH BUNIYAD CHEMICALS LTD S 45000 42.75
17/9/2009 532022 FILAT FASH PRESILCO IMPEX LTD S 76773 41.79
17/9/2009 532022 FILAT FASH OM EDUCATION (IT) PVT LTD S 201891 40.08
17/9/2009 532022 FILAT FASH AMRUT SECURITIES LTD. S 78503 42.23
17/9/2009 532022 FILAT FASH OMPARKASH GUPTA S 39340 43.36
17/9/2009 532022 FILAT FASH NARESHCHAND JAIN S 37844 41.17
17/9/2009 532022 FILAT FASH AMIT SHANTILAL MEHTA S 86008 42.89
17/9/2009 532022 FILAT FASH SB LIQUOR DISTRIBUTORS PRIVAT S 40099 44.19
17/9/2009 531486 FILMCIT MEDI BALDEVSINH VIJAYSINH ZALA B 1762300 1.04
17/9/2009 531486 FILMCIT MEDI WELLNESS COMMUNICATION (P) LTD S 1800000 1.04
17/9/2009 532990 GMR FERRO BINDU KUMARI B 111813 39.37
17/9/2009 532990 GMR FERRO ANKIT MITTAL B 77418 38.62
17/9/2009 532990 GMR FERRO SUNITA BANSAL B 69020 37.98
17/9/2009 532990 GMR FERRO SUNITA BANSAL S 69020 37.81
17/9/2009 532990 GMR FERRO BINDU KUMARI S 111813 39.25
17/9/2009 532990 GMR FERRO ARCADIA SHARE & STOCK BROKERS PVT. LTD S 69374 37.62
17/9/2009 532990 GMR FERRO ANKIT MITTAL S 77418 38.83
17/9/2009 506522 J L MORISO I RATNABALI CAPITAL MARKETS LIMITED B 17000 419.39
17/9/2009 506522 J L MORISO I JAIDEEP HALWASIYA S 15000 420.00
17/9/2009 523467 JAI MATA GLA MOTI LAL BHASIN S 24564 7.16
17/9/2009 511131 KAMAN HSG NISHA SUMANJAIN B 110000 40.41
17/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. B 87513 6.88
17/9/2009 530255 KAY POW PAP ANKIT KUMAR GUPTA B 59500 6.58
17/9/2009 530255 KAY POW PAP BAMPSL SECURITIES LTD. S 87513 6.78
17/9/2009 530255 KAY POW PAP NARENDER GUPTA S 68400 6.55
17/9/2009 530255 KAY POW PAP ANKIT KUMAR GUPTA S 59500 6.91
17/9/2009 530255 KAY POW PAP GIRRAJ PRASAD GUPTA S 70000 6.53
17/9/2009 532747 KFA GENUINE STOCK BROKERS PVT. LTD. B 3159073 52.70
17/9/2009 532747 KFA GENUINE STOCK BROKERS PVT. LTD. S 3159073 52.77
17/9/2009 509048 LANCOR HOLDS SHEKAR VISWANATH RAJAMANI B 110000 84.78
17/9/2009 507912 LKP FIN SUNITA BANSAL B 84553 144.64
17/9/2009 531528 MAARS SOFTWR SPM FINANCIAL ADVISORY SERVICES PVT LTD B 860000 3.70
17/9/2009 531528 MAARS SOFTWR SPM FINANCIAL ADVISORY SERVICES PVT LTD S 960000 3.66
17/9/2009 532896 MAGNUM VENT NIRAJ HARSUKH SANGHVI B 197018 13.41
17/9/2009 532896 MAGNUM VENT NIRAJ HARSUKH SANGHVI S 197018 12.96
17/9/2009 590011 MOVING PICTU-PMS SAMBA SIVARAO CINAGANTI B 50000 5.94
17/9/2009 590011 MOVING PICTU-PMS MUPPA VENKAIAH B 50000 5.91
17/9/2009 590011 MOVING PICTU-PMS ANAND KUMAR DAGA S 50000 5.72
17/9/2009 532045 NEXXOFT INFO PRAVIN DEEPSINH CHAVDA S 58052 17.14
17/9/2009 532045 NEXXOFT INFO RAJENDRASURI FINANCIAL SERVICES GUJARAT PRIVATE LIMITED S 46372 17.30
17/9/2009 524372 ORCHID CHEM GENUINE STOCK BROKERS PVT. LTD. B 619529 166.24
17/9/2009 524372 ORCHID CHEM OPG SECURITIES P LTD B 764741 165.88
17/9/2009 524372 ORCHID CHEM GENUINE STOCK BROKERS PVT. LTD. S 619529 166.25
17/9/2009 524372 ORCHID CHEM OPG SECURITIES P LTD S 764741 166.09
17/9/2009 511702 PARSHART INV KRUNAL GOPALDAS RANA B 19500 15.50
17/9/2009 511702 PARSHART INV JOSHI KIRTIKUMAR M S 19000 15.17
17/9/2009 526247 PREM EXPLOSI WEALTH BRIDGE CAPITAL ADVISORS P LTD B 50000 68.46
17/9/2009 590077 RANKLIN SOLU ARPIT SHARE BROKERS PRIVATE LIMITED B 25300 40.25
17/9/2009 590077 RANKLIN SOLU SRIKANTH MIKKILINENI S 25520 40.28
17/9/2009 531646 RFL INTERNAT RAHUL ANANTRAI MEHTA B 42711 1.51
17/9/2009 506172 SAMPADA CHEM THE PREMIER COMMERCIAL COPVT LTD S 45000 26.11
17/9/2009 530073 SANGHVI MOV RISHI CHANDRAKANT SANGHVI B 800000 181.50
17/9/2009 530073 SANGHVI MOV MINA CHANDRAKANT SANGHAVI S 800000 181.50
17/9/2009 532886 SEL MANUF RITU SALUJA S 161050 70.98
17/9/2009 512413 SPECTACLE BHARAT SHANTILAL THAKKAR B 408073 55.79
17/9/2009 512413 SPECTACLE BHARAT SHANTILAL THAKKAR S 405819 55.94
17/9/2009 500285 SPICEJET LTD CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED B 3680000 34.41
17/9/2009 500285 SPICEJET LTD JMP SECURITIES PVT LTD B 1902532 36.13
17/9/2009 500285 SPICEJET LTD JMP SECURITIES PVT LTD S 1702354 36.21
17/9/2009 526500 STR GRE WOO PAKSH DEVELOPERS PVT. LTD S 39786 41.80
17/9/2009 506003 SUDAL INDUST HEMANT KUMAR GUPTA B 25000 35.85
17/9/2009 522087 SULZER INDIA FINQUEST FINANCIAL SOLUTIONS PVT. LTD. B 33000 1045.32
17/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. B 1518789 22.85
17/9/2009 503657 VEER ENERGY JIGAR SHAH B 265000 22.69
17/9/2009 503657 VEER ENERGY AANGI SHARES & SERVICES PVT. LTD. S 1302217 22.40
17/9/2009 503657 VEER ENERGY YOGESH JAISUKHLAL SANGHVI S 1000000 22.58
17/9/2009 531874 VENUS VENT BUNIYAD CHEMICALS LTD B 27000 60.22
17/9/2009 531249 WELL PACK PA PANDYA YAMINIBEN M B 35921 276.86
17/9/2009 531249 WELL PACK PA LAXMAN DHIRUBHAI PARMAR B 30828 277.10
17/9/2009 531249 WELL PACK PA PANDYA HARDIK M B 25822 278.27
17/9/2009 531249 WELL PACK PA NARENDRAKUMAR SHAH B 30000 277.48
17/9/2009 531249 WELL PACK PA PANDYA YAMINIBEN M S 34221 278.92
17/9/2009 531249 WELL PACK PA LAXMAN DHIRUBHAI PARMAR S 29510 279.41
17/9/2009 531249 WELL PACK PA PANDYA HARDIK M S 23177 278.28
17/9/2009 531249 WELL PACK PA SHOBHANA NARENDRAKUMAR SHAH S 30600 277.68
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
17-SEP-2009,ABAN,Aban Offshore Ltd.,SMC GLOBAL SECURITIES LTD.,BUY,97850,1619.14,-
17-SEP-2009,ARVIND,Arvind Limited,AUM SECURITIES PRIVATE LTD.,BUY,1549751,38.98,-
17-SEP-2009,ASHCO,Ashco Industries Limited,AANGI SHARES & SERVICES PVT. LTD,BUY,160450,12.16,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),HI-GROWTH CORPORATE SERVICES PVT. LTD.,BUY,437400,25.06,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),INVENTURE GROWTH & SECURITIES LIMITED,BUY,213442,24.64,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),J V STOCK BROKING PRIVATE LIMITED,BUY,275013,24.65,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),RAJ KUMAR GUPTA MR (C46),BUY,12254,24.50,-
17-SEP-2009,FSL,Firstsource Solutions Lim,PRAKASH K SHAH SHARES & SECURITIES PVT. LTD,BUY,2147767,35.12,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,ANKIT MITTAL MR (DMS),BUY,76296,39.01,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,BINDU,BUY,74664,39.53,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,SUNITA BANSAL,BUY,281389,40.13,-
17-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,11113959,23.63,-
17-SEP-2009,JETAIRWAYS,Jet Airways (India) Ltd.,MBL & COMPANY LTD.,BUY,469477,305.30,-
17-SEP-2009,KFA,Kingfisher Airlines Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,4097632,52.99,-
17-SEP-2009,KFA,Kingfisher Airlines Ltd.,TRANSGLOBAL SECURITIES LTD.,BUY,1423919,51.78,-
17-SEP-2009,MAGNUM,Magnum Ventures Limited,BAWASKAR TUSHAR KIRAN,BUY,267910,12.98,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,C D INTEGRATED SERVICES LTD.,BUY,399209,166.42,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,BUY,1282185,165.83,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,RATNABALI CAPITAL MARKETS LTD.,BUY,203331,164.33,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,TODI SECURITIES PVT. LTD.,BUY,438199,166.47,-
17-SEP-2009,RAJESHEXPO,Rajesh Exports Ltd.,LTD JOIS INVESTMENTS P,BUY,873420,76.71,-
17-SEP-2009,SELAN,Selan Exploration Technol,EQUITY INTELLIGENCE INDIA PRIVATE LIMITED [P M S],BUY,82130,306.72,-
17-SEP-2009,SELMCL,SEL Manufacturing Company,RITU SALUJA,BUY,22,71.40,-
17-SEP-2009,ABAN,Aban Offshore Ltd.,SMC GLOBAL SECURITIES LTD.,SELL,195850,1625.59,-
17-SEP-2009,ARVIND,Arvind Limited,AUM SECURITIES PRIVATE LTD.,SELL,1515022,39.02,-
17-SEP-2009,ASHCO,Ashco Industries Limited,AANGI SHARES & SERVICES PVT. LTD,SELL,160450,12.45,-
17-SEP-2009,CAMLIN,Camlin Ltd.,COMGEST GROWTH PLC A/C COMGEST GROWTH INDIA,SELL,300000,30.35,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),HI-GROWTH CORPORATE SERVICES PVT. LTD.,SELL,437400,25.05,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),INVENTURE GROWTH & SECURITIES LIMITED,SELL,214501,24.77,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),J V STOCK BROKING PRIVATE LIMITED,SELL,308678,24.67,-
17-SEP-2009,CLASSIC,Classic Diamonds (India),RAJ KUMAR GUPTA MR (C46),SELL,300000,23.53,-
17-SEP-2009,FSL,Firstsource Solutions Lim,PRAKASH K SHAH SHARES & SECURITIES PVT. LTD,SELL,2085767,35.07,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,ANKIT MITTAL MR (DMS),SELL,76296,38.99,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,BINDU,SELL,74664,39.28,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,SUNITA BANSAL,SELL,281389,39.93,-
17-SEP-2009,GMRFER,GMR Ferro Alloys & Indust,YOGESH R JADHAV,SELL,77523,38.00,-
17-SEP-2009,GOKUL,Gokul Refoils and Solvent,GRANITE H. C. VENTURES LLC,SELL,242000,283.00,-
17-SEP-2009,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,10903777,23.65,-
17-SEP-2009,JETAIRWAYS,Jet Airways (India) Ltd.,MBL & COMPANY LTD.,SELL,469477,304.73,-
17-SEP-2009,KFA,Kingfisher Airlines Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,4097632,53.00,-
17-SEP-2009,KFA,Kingfisher Airlines Ltd.,TRANSGLOBAL SECURITIES LTD.,SELL,1450537,51.83,-
17-SEP-2009,MAGNUM,Magnum Ventures Limited,BAWASKAR TUSHAR KIRAN,SELL,267910,13.03,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,C D INTEGRATED SERVICES LTD.,SELL,399209,166.64,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,GENUINE STOCK BROKERS PVT LTD,SELL,1282185,165.95,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,RATNABALI CAPITAL MARKETS LTD.,SELL,1214331,165.14,-
17-SEP-2009,ORCHIDCHEM,Orchid Chemicals Ltd.,TODI SECURITIES PVT. LTD.,SELL,438199,166.04,-
17-SEP-2009,RAJESHEXPO,Rajesh Exports Ltd.,LTD JOIS INVESTMENTS P,SELL,1673274,76.93,-
17-SEP-2009,SELMCL,SEL Manufacturing Company,RITU SALUJA,SELL,241026,71.00,-
Hang Seng, Shanghai, Nikkei; NZX 50 gain more than 1%, while Sensex, Taiex follows
Stock market in Asian region finished at hit their highest level in 13 months on Thursday, 17 September 2009, on signs the global economic recovery could be strengthening, while the US dollar slid to a fresh one-year low as investor optimism eroded its safe haven appeal.
On Wall Street, stocks extended gains following better-than-expected manufacturing data and a second day of positive vibes from Federal Reserve Chairman Ben Bernanke’s remarks. The Dow Jones Industrial Average was up 108.3 points, or 1.1%, to 9791.71, while the S&P 500 ticked up 16.13 points, or 1.5%, to 1068.76. The Nasdaq Composite advanced 30.51 points, or 1.5%, to 2133.15.
On the economic front, industrial production and capacity utilization both increased more than expected in August. Production ramped up by 0.8%, while capacity utilization rose to 69.9%. Both measures also were upwardly revised for July. Meanwhile, the Department of Labor said the consumer price index, the most widely cited gauge of inflation, increased by 0.4%, or 0.1% excluding food and energy.
In the commodity market, crude oil traded little changed near $72 a barrel in New York after the Energy Department reported that U.S. crude stockpiles dropped to the lowest level since January.
Crude oil for October delivery was at $72.55 a barrel, up 4 cents, in electronic trading on the New York Mercantile Exchange at 9:23 a.m. in London. Yesterday, the contract rose $1.58, or 2.2 percent, to $72.51.
Brent crude oil for November settlement was at $71.64 a barrel, down 3 cents, on the London-based ICE Futures Europe exchange at 9:23 a.m. London time. Yesterday, the contract jumped 2.6 percent to $71.67, the highest since Aug. 28.
Gold advanced for the third day as signs of a recovering global economy spurred demand for precious metals as a hedge against rising inflation. Immediate-delivery bullion advanced as much as $6.98, or 0.7%, to $1,024.28 an ounce, rising for a third day. The metal traded at $1,021.89 by 9:30 a.m. local time. December gold futures were 0.3% higher at $1,023.10 an ounce on the New York Mercantile Exchange’s Comex division.
In the currency market, US dollar’s fall continues today as trends in the overall financial markets extend. Among the major currencies, Aussie, was the strongest against the greenback and the up trend in theses currencies are still in favor to continue in near term.
The Japanese yen softened against major currencies. The Japanese yen was quoted at 910.3 against the US dollar and 133.90 against euro.
The Hong Kong dollar was trading at HK$ 7.7502 against the dollar. Actually The Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar closed at a 13-month high on Thursday after positive US economic data sparked fresh hopes of a global economic recovery. At the local close, the currency was trading at $US0.8764, up from Wednesday's close of $US0.8669. It was the highest close for the Australian currency since August 21, 2008, when it ended the domestic session at $0.8804.
In Wellington trade, the New Zealand dollar powered to a 13-month high against the greenback, briefly topping US71.50c, as global risk appetites improved. By 5pm today the NZ dollar was buying US71.35c from US70.57c at the same time yesterday. The high in the domestic session was US71.55c, near the peak in overnight trading of US71.57, which was the best since August last year.
The South Korean won ended at 1,204.8 won to the U.S. dollar, up 6.5 won from Wednesday's close. The unit rose to the strongest level in more than 11 months as foreigner's demand for the won rose amid bullish stock markets and a weak U.S dollar.
The Taiwan dollar strengthened against the greenback. The Taiwan dollar was trading higher against the US dollar at NT$ 32.3400, 0.1520 up from Wednesday’s close of NT$32.4920.
In the region, equity markets ended broadly higher as investors snapped up shares of commodity producers and airlines on hopes the global economic recovery is gaining steam.
In Japan, shares market spurted with most of sector contributed into rally on optimism that global growth will recover more quickly than expected after upbeat US industrial production data and strong gains in commodity prices. At the closing bell, the Nikkei 225 Stock Average index added 173.03 points, or 1.68%, to 10,443.80, while the broader Topix gained 8.09 points, or 0.87%, to 939.52.
On the economic front, the Ministry of Finance said today in its quarterly business outlook survey that Business conditions in Japan improved markedly in the third quarter of Japan's fiscal year. The Ministry of Economy, Trade and Industry said today that an index measuring the activity of tertiary industrial activity in Japan was up 0.6% in July compared to the previous month, to a score of seasonally adjusted 96.7 points. The Bank of Japan concluded its two-day monetary policy meeting with decision to hold interest rates at a record low of 0.10% and raised its economic assessment.
In Mainland China, share market spurted with broad based gains across the sectors. Materials and energy sector outperformed as metal and oil prices bounced after the latest US data reinforced views that global recovery was taking hold. Gold miners were boosted by strong bullion prices. Financials were uplift by gains from major banks and brokerages firms. The Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, surged 60.55 points, or 2.02% to 3,060.26, while the CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, spurted 1.9%, to 3,320.10.
In Hong Kong, stock market endured gains for second consecutive days, buoyed by sharp gains on Wall Street after upbeat US industrial production data and higher commodity prices, reinforced hopes that the global economic recovery was strengthening. Financials and properties led the rally as strong economic data in the United States reinforced hopes of turnaround in the global economy. Exporters gained ground following the robust US monthly retail sales figures. Esprit Holding jumped on rating upgrade by brokerage firms. The Hang Seng Index spurted 365.59 points, or 1.71%, to 21,768.51, while the Hang Seng China Enterprise surged 142.53 points, or 1.14%, to 12,668.25.
In Australia, shares market has continued its strong momentum, closing up with benchmark indices hit fresh eleven month high on the back of solid gains across the sectors, buoyed by positive global cues and firmer commodities prices. Miners and industrials fronting sharp gains as hopes for a sustained recovery in the global economy appeared to gather pace. At the closing bell, the benchmark S&P/ASX200 index surged 64.5 points, or 1.39%, to 4,714.90, meanwhile the broader All Ordinaries added 61.2 points, or 1.32%, to 4,714.
In New Zealand, stock market ended with decent gains registering a second consecutive day of gains in a row. The New Zealand share market had a robust start to the day amid a global lift in stocks as fresh data in the United States spurred optimism about an economic recovery. The gains in this country come despite a 1c fall to 267 by top stock Telecom. The NZX50 increased 1.12% or 35.465 points to 3153.05. The NZX 15 advanced 1.47% or 84.91 points to close at 5790.57.
On the economic front, New Zealand’s manufacturing industry contraction deepened last month, led by a drop-off in production, suggesting the sector still has a hurdle to clear inventory levels as the economy emerges from recession. The BNZ Capital-Business NZ Performance of Manufacturing Index fell 0.9 points to 48.7 in August, extending the period of contraction to 16 months. Four of the five main seasonally adjusted diffusion indexes in the PMI shrank.
In South Korea, stocks rallied to a 15-month high, lifted by powerful foreign buying. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 12.14 points, or 0.72%, to end at 1,695.47, the highest since 1,717.66 in 26 June 2008. After opening above the 1,700-mark for the first time in 15 months, the KOSPI pared some of its gains in late trading as institutional investors reduced buying.
In Singapore, stock market finished the session edged lower, pared back morning gains in the last trading hour, with steep plunge in properties stocks offset gains from banks and major blue chips stocks. The blue chip Straits Times Index was ended at 2,672.60, eased 1.82 points, or 0.07%.
In Taiwan, stock market continued to hover around its fourteen high status, as Taiwan Mobile announced the acquisition of Kbro Company, Taiwan’s second largest cable-TV operator, at NT$56.8 billion, thereby boosting its share in the local cable-TV market to one third, the largest.
The benchmark Taiex share index consolidated gains as it finished the session higher by 37.06 points or 0.50% in a day, closing the day at 7477.30, achieving a new fourteen and half month high status by showing the closing not seen from 30 June 2008 when market closed at 7523.54.
In Philippines, stock market rallied for the first time in the week, closing higher, following optimistic investor’s sentiment, as fears of a deepening global economic downturn faded away, following positive economic prospects both on domestic and global front. At the final bell the benchmark index PSEi ascended 0.12% or 3.36 points to 2,771.97, while the All Shares index augmented 0.46% or 8.31 points to 1,787.09.
In India, the key benchmark indices cut strong intraday gains and closed with small advance in a volatile trading session. Index heavyweight Reliance Industries (RIL) slumped as the firm sold a part of its own shares held in a trust to raise funds.
The BSE 30-share Sensex closed up 34.07 points or 0.20% to 16,711.11. The Sensex rose 142.98 points the day's high of 16,820.02 in mid-morning trade, its highest since 23 May 2008. The barometer index fell 40.49 points at the day's low of 16,636.55 in afternoon trade.
The 50-unit S&P CNX Nifty hit the psychological 5,000 mark first time since 23 May 2008 in mid-morning trade but fell below that level later. The S&P CNX Nifty was up 7.15 points or 0.14% to 4965.55. It hit a high of 5003.05 in mid-morning trade, its highest since 23 May 2008.
Elsewhere, Malaysia's Kula Lumpur Composite index went up 0.48% or 5.82 points to 1218.80 while stock markets in Indonesia’s Jakarta Composite index ended the day higher at 2445.99.
In other regional market, European shares rose for third straight session and the tenth time in eleven days, with stocks that stand to benefit the most from an improving economic backdrop leading a broad-based advance. On a regional level, the U.K. FTSE 100 index rose 0.8% to 5,165.71, the German DAX index climbed 0.6% to 5,734.23 and the French CAC-40 index rose 0.6% to 3,837.04.
The key benchmark indices scored small gains in choppy trade, extending recent strong gains, as global stocks rose. The BSE 30-share Sensex rose 34.07 points or 0.2%, off close to 110 points from the day's high and up about 75 points from the day's low. Index heavyweight Reliance Industries (RIL) slumped as the firm sold a part of its own shares held in a trust to raise funds.
The 50-unit S&P CNX Nifty hit the psychological 5,000 mark first time since 23 May 2008 in mid-morning trade but fell below that level later. The Sensex and Nifty achieved their highest closing levels in nearly 16 months today, 17 September 2009.
IT and auto stocks rose. But, realty stocks fell. Oil exploration stocks rose whereas PSU OMCs fell as crude oil prices advanced. The market breadth turned negative in contrast to a strong breadth earlier in the day.
Intraday volatility was high. After an initial surge triggered by higher Asian stocks, the Sensex erased almost the entire gains shortly. The market strengthened again to hit a fresh intraday high in mid-morning trade. A sell-off in RIL pulled the Sensex into the red for a short while in early afternoon trade. The market regained positive zone later. The market alternately moved between positive and negative terrain in afternoon trade. It firmed up in mid-afternoon trade. The market slipped into the red once again in choppy late trade.
After a strong revival since 15 August 2009, rains weakened again last week. The South West monsoon rains were 41 % below average in the week to 16 September 2009, the government-run India Meteorological Department said on Thursday. Total rainfall since 1 June 2009, the start of the season, was 21 % below average because of exceptionally dry spells earlier in the season, it said. More than two-thirds of the people live in villages and 60 % of the farm land depends on the annual rains.
On the flip side, fears of hike interest rates have receded after recent comments by the Reserve Bank of India governor that the central bank will not unwind its accommodative monetary policy until the economy is back on high-growth track. Rising inflationary pressures due to a surge in food prices had stoked worries that the central bank may raise rates as early as next month at a quarterly policy review.
Data released by the government today showed the headline inflation entered the positive territory after a gap of 13 weeks. Inflation based on the wholesale price index rose 0.12% in the year through 5 September 2009 compared to previous week's annual decline of 0.12%. A surge in food price index was responsible for the rise in the headline inflation.
The cabinet on Thursday extended limits on stocks that can be held by traders of sugar, vegetable oils, lentils and rice until September 2010. The move is aimed at keeping a lid on prices of those commodities.
Meanwhile, market expectations of strong Q2 results were tempered after a news agency quoted an unnamed government official as saying that the government expects only a marginal improvement in corporate advance tax in second quarter.
Media reports had on Wednesday, 16 September 2009, indicated a surge in advance payment by top Indian firms that raised expectations of strong Q2 September 2009 results. As per reports, State Bank of India, India's biggest commercial bank by branch network, has paid Rs 1838 crore in advance tax in the second installment as against Rs 1500 crore paid last year. HDFC Bank paid Rs 425 crore advance tax against Rs 315 crore last year. But, ICICI Bank paid lower tax of Rs 501 crore against Rs 575 crore last year.
Larsen & Toubro paid Rs 210 crore as against Rs 150 crore last year. Reliance Industries paid Rs 1157 crore in advance tax against Rs 683 crore paid in last year. But, Tata Steel paid a sharply lower advance tax of Rs 400 crore Rs 1000 crore paid in last year.
Software major TCS has reportedly paid Rs 220 crore as against Rs 81 crore. Tractor major Mahindra & Mahindra paid Rs 112 crore as against Rs 17.5- crore. Tata Motors paid advance tax of Rs 130 crore in the second installment, much higher than Rs 60 crore last year. Tata Power Company paid Rs 75 crore as against Rs 14 crore in last year.
Meanwhile, the initial public offer (IPO) of the private sector ship builder, Pipavav Shipyard, was fully subscribed within an hour of opening of the issue on Wednesday, 16 September 2009. The IPO was subscribed 3.37 times at 16:00 IST on second day of the issue on Thursday. The company has allotted 1.52 crore shares to anchor investors at the top-end of the Rs 55-Rs 60 price band.
World stocks have risen sharply from a trough in early March 2009 on hopes the global economic is recovering from a slump in late calendar 2008 caused by global financial crisis.
European shares rose on Thursday, extending the previous session's sharp gains, as renewed hopes of a global economic recovery buoyed demand for riskier assets like equities. Key benchmark indices in France, Germany and UK were up by between 0.47% to 0.71%.
Asian stocks hit their highest level in 13 months on Thursday after US economic data raised hopes that the global economic recovery is strengthening. Key benchmark indices in China, Hong Kong, Singapore and Taiwan were up by between 0.5% to 2.02%.
Japan's Nikkei rose 1.68% after Bank of Japan (BoJ) held a key policy rate steady at 0.1% as expected. The BoJ also slightly upgraded its economic view for the first time since July 2009.
Trading in US index futures indicated Dow could gain 18 points at the opening bell today, 17 September 2009.
US markets rallied on Wednesday, 16 September 2009, with the benchmark indices up more than a percent, after industrial production rose for the second straight month and weakness in the dollar boosted commodity and industrial stocks. The Dow gained 108.30 points, or 1.1%, to 9,791.71. The S&P 500 index added 16.13 points, or 1.5%, to 1,068.76, while the Nasdaq Composite Index rose 30.51 points, or 1.5%, to 2,133.15. The S&P 500 is up about 60% from 9 March 2009 low.
US industrial production rose 0.8% in August 2009, better than expected, and the data for the prior month was revised to a 1% gain double the 0.5% originally reported.
The BSE 30-share Sensex rose 34.07 points or 0.2% to 16,711.11 its highest closing since 22 May 2008. The Sensex rose 142.98 points the day's high of 16,820.02 in mid-morning trade. The barometer index fell 40.49 points at the day's low of 16,636.55 in afternoon trade.
The S&P CNX Nifty rose 7.15 points or 0.14% to 4965.55 its highest closing since 22 May 2008. Nifty September 2009 futures were at 4961.50 at a discount of 4.05 points as compared to the spot closing of 4965.55. Turnover in NSE's futures & options (F&O) segment surged to Rs 83,762.65 crore from Rs 70,086.74 crore on Wednesday, 16 September 2009. It hit a high of 5003.05 in mid-morning trade, its highest since 23 May 2008.
BSE clocked a turnover of Rs 9380 crore, sharply higher than Rs 6645.31 crore on Wednesday,16 September 2009.
The market breadth, indicating the overall health of the market, turned negative in contrast to a strong breadth in early trade. On BSE, 1,215 shares rose as compared with 1574 that declined. A total of 92 shares remained unchanged.
Among the 30-member Sensex pack, 22 rose and rest declined.
Indian stocks have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. There is a huge amount of liquidity in the global financial system which is a the result of the global policy response to the crisis following the collapse of Lehman Brothers a year ago. Central banks across the world have slashed policy rates in the past one year to revive economic growth.
The Sensex is up 7063.80 points or 73.22% in calendar year 2009 as on 17 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8,550.71 points or 104.78% as on 17 September 2009. FII inflow in the calendar year 2009 totaled Rs 45,022.70 crore (till 16 September 2009).
Coming back to today's trade, the BSE Mid-Cap index rose 0.27% and outperformed Sensex. The BSE Small-Cap index rose 0.13% and underperformed Sensex.
The BSE Teck index (up 1.92%), the BSE IT index (up 1.91%), the BSE Auto index (up 1.46%), the BSE Bankex (up 0.78%), the BSE Consumer Durables index (up 0.66%), the BSE Capital Goods index (up 0.55%), outperformed the Sensex.
The BSE Oil & Gas index (down 2.86%), the BSE Realty index (down 0.91%), the BSE PSU index (down 0.35%), the BSE Metal index (down 0.27%), the BSE Power index (down 0.22%), the BSE FMCG index (down 0.22%), the BSE Healthcare index (down 0.14%), underperformed the Sensex.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) fell 4.45% to Rs 2086.35 after the firm said during market hours today that Petroleum Trust sold 1.5 crore equity shares of RIL through block deals on the boruses today, 17 September 2009.
Reliance Industrial Investments and Holdings a wholly owned subsidiary of RIL, is the sole beneficiary of the Trust. The trust will realize close to Rs 3,188 crore, at an average price of about Rs 2125 per share. The financial impact of the transaction will be reflected in the consolidated statements, RIL said.
Reliance Industries on Tuesday said that it has fixed 29 September 2009 as the record date for shareholders of Reliance Petroleum (RPL) to receive equity shares of Reliance Industries under a merger scheme.
Oil exploration stocks rose after crude oil futures prices settled at their highest level this month on Wednesday after US crude oil inventories dropped more than expected last week. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) rose 0.99%. As per recent reports, ONGC's Russian unit has substantially cut oil production due to increase in cost. Cairn India was flat at Rs 267.75.
Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms. Light, sweet crude oil for October delivery on the New York Mercantile Exchange rose $1.58 a barrel, or 2.2%, at $72.51 a barrel, the highest level since 28 August 2009.
PSU OMCs fell as the rally in crude oil prices will result in increase in under-recoveries on domestic sale of petrol, diesel, LPG and kerosene at a controlled price. BPCL and HPCL fell by between 4.98 % to 4.99%.
Indian Oil Corporation (IOC) fell 2.61%. The company's board approved a liberal 1:1 bonus issue on Monday, 14 September 2009.
The government on Tuesday issued bonds worth over Rs 10,306 crore to three oil marketing PSUs to compensate them for the losses incurred on account of selling petroleum products below market price. While bonds worth Rs 6,207.06 were issued to IOC, Rs 2,033.99 crore worth bonds were given to HPCL and Rs 2,065.28 crore worth of bonds were given to BPCL.
IT stocks gained on strong US economic data. US is the biggest market for Indian IT firms. India's largest software services exporter by sales Tata Consultancy Services rose 1.87% on reports the company is eyeing six-seven IT outsourcing deals worth over $100 million each in Latin America. The stock also rallied on jump in advance tax in second installment.
India's third largest software services exporter by sales Wipro rose 2.02% as its ADR rose 1.58% on Wednesday. The company recently won a three-year outsourcing contract from All Nippon Airways, Japan's No.2 carrier.
India's second largest software services exporter by sales Infosys rose 1.87% as its ADR rose 2.99% on Wednesday. Infosys still finds the business situation quite challenging and decision making by clients continues to be slow, Chief Operating officer S.D. Shibulal said on Tuesday. He also said last month' s outsourcing contract from oil and gas major British Petroleum Plc was worth $116 million over five years.
Auto stocks rose on hopes of strong sales in the upcoming festive season. India's top small car maker by sales Maruti Suzuki rose 3.08%.
Bajaj Auto rose 2.13% extending recent strong gains on reports it has paid advance tax of Rs 170 crore in the second installment this year, much higher than Rs 50 crore in the corresponding period last year.
India's largest tractor maker by sales Mahindra & Mahindra rose 1.25% on jump in advance payment in the second installment.
India's largest truck maker by sales Tata Motors was flat at Rs 608.15 despite a surge in advance tax payment in the second installment.. Tata Motors is reportedly planning to sell about 10-15 % in subsidiary Tata Motors Finance to raise funds to reduce debt.
The company has a huge debt largely related to the purchase of Ford Motor's marquee brands Jaguar Land Rover last year, for which it took a loan of $3.2 billion and other debt to keep the loss-making unit running.
As per reports, the government will release pay arrears to government employees under the second and final installment ahead of big festivals in October 2009. The payout would boost demand for cars and motorcycles.
Car sales rose 26% to 120,669 units in August 2009 over August 2008 boosted by new launches and availability of cheaper loans, data released by the industry body Society of Indian Automobile Manufacturers on 8 September 2009, showed. Sales of trucks and buses rose 18.5% to 40,624 units and motorcycle sales rose 26% to 611,173 units.
Realty stocks fell on profit taking after a recent surge. Indiabulls Real Estate, Ackruti City, Omaxe and Unitech fell by between 1.1% to 3.04%.
As per reports, demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and a recovery in the job market. Realty market had slumped last year amid a global credit crunch and buyers fearing job losses.
Higher advance tax payment by banks in the second quarter aided rally in bank stocks for the second day in a row. India's largest bank by net profit and branch network State Bank of India rose 0.82%. The bank expects to maintain 40% growth in its business in the United Kingdom, Chairman O.P. Bhatt said today. Bhatt said the bank was looking at smaller acquisitions in the UK, and it planned to make London the core of its operations in Europe.
India's second largest private sector bank by net profit HDFC Bank rose 1.44% as its ADR rose 2.74% on Wednesday. India's largest private sector bank by net profit ICICI Bank rose 0.58% as its ADR rose 3.63% on Wednesday. The bank's managing director Chanda Kochhar said on 8 September 2009 credit growth in India is likely to pick up in the second half of this year.
Metal stocks rose as LMEX, a gauge of six metals traded on the London Metal Exchange rose 3.69% on Wednesday 16 September 2009. India's largest copper maker by sales Sterlite Industries rose 0.12%. The company on Friday 11 September 2009 said it had raised its open offer price for bankrupt US copper miner Asarco by a fifth to $2.565 billion. Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for the assets of Asarco, which has been under bankruptcy protection since 2005.
Among other metal stocks, National Aluminum Company, Hindustan Zinc, Hindalco Industries rose by between 0.05% to 3.62%.
But, India's largest steel maker by sales Tata Steel fell 1.97% on profit taking after Wednesday's 8.21% gains. As per reports its European unit, Corus will soon restart its plant in South Wales on the back of rise in demand. The unit was shut in December 2008 as part of its plan to reduce production by 30%.
Domestic steel makers raised prices of flat steel products such as plates and sheets, mainly used in manufacturing automobiles, refrigerators and washing machines, by about 3-5% from 1 September 2009, in line with international prices.
Tata's steel sales from Indian operations rose 25% to 4,92,000 tonnes in August 2009 over August 2008. The local operations contribute about a quarter of the group's total annual global capacity of 30 million tonnes, which includes Corus, Europe's second-largest steelmaker.
India's largest drugmaker by sales Ranbaxy Laboratories fell 1.17% even after the company entered into a strategic in-licensing agreement with Medy-Tox Inc of South Korea, for selling a cosmetic product in India
Some FMCG pivotals rose on revival in India's annual monsoon in the past few weeks. FMCG firms derive substantial revenue from the rural sector. Marico, Dabur India, REI Agro, United Spirits and Hindustan Unilever rose by between 0.41% to 1.26%.
Finance Minister Pranab Mukherjee said on Monday, 14 September 2009, said late monsoon rains have eased drought conditions in India.
Cement stocks rose on bargain hunting after recent losses triggered by reports cement makers have cut prices by Rs 3 per 50 kilogram bag in Mumbai. ACC, Grasim Industries, Ultratech Cement rose by between 0.25% to 3.65%.
Telecom stocks rose. India's largest telecom player by sales Bharti Airtel rose 3.13%. On Tuesday 15 September 2009, South Africa's communications regulator had said it might not grant approval for the proposed alliance between Bharti and MTN this year. Bharti and South African telecom operator MTN have been in negotiations since 25 May 2009 on a $23 billion cash and share-swap deal aimed at an eventual full merger. The deadline for the talks has been extended twice, most recently the deadline was put back another month to 30 September 2009.
India's second largest telecom player by sales Reliance Communications rose 0.99% on recent reports the company has initiated talks with its overseas lenders to revise the terms of the $1 billion unsecured external commercial borrowings, or ECBs, which the company raised in 2007.
The government plans to hold a much-awaited auction on 7 December 2009 to sell airwave spectrum bands to the country's mobile operators for use in third-generation wireless services, the Department of Telecommunications said on Monday.
The auction for 3G spectrum will allow operators a chance to offer mobile-phone access to high-speed Internet, video downloads and other 3G services in the world's second-largest wireless market by subscribers. The move is also expected to earn the government billions of dollars in revenue in a year when it is expected to borrow a record amount to bridge its fiscal deficit.
The government said it will issue a notice inviting applications from interested bidders on 26 October 2009, with the final date for receiving the applications set for 13 November 2009.
India's largest engineering & construction firm by sales Larsen & Toubro rose 0.89% on higher advance tax payment.
Among other capital goods stocks, BEML, Crompton Greaves, Siemens, Thermax, ABB, rose by between 0.08% to 3.55%.
But, India's largest electric equipment maker by sales Bharat Heavy Electricals fell 0.11%. As per recent reports the company has won an order worth Rs 1300 crore for an upcoming Vallur Thermal Power project at Ennore in Tamil Nadu. The power project is being set up by a joint venture between NTPC and the Tamil Nadu Electricity Board (TNEB).
Aviation stocks rose on hopes a recent cut in fares would boost air traffic. Jet Airways, Kingfisher Airlines and SpiceJet rose by between 7.18% to 18.05%.
As per reports, almost all airlines have dropped ticket prices by 20-50% following Jet Airways' 50% fare cut. Jet Airways had on 14 September 2009 announced the discount on all routes for five days to make up for Rs 200 crore in losses it incurred during the pilots' strike which ran for five days last week
Sugar stocks fell after the cabinet imposed restrictions on stocks to check price rise. Bajaj Hindustan, Dhampur Sugars and Shree Renuka Sugars fell by between 1.02% to 2.44%.
King Fisher Airlines clocked highest volume of 2.37 crore shares on BSE. Cals Refineries (2.24 crore shares), SpiceJet (2.18 crore shares), NHPC (1.6 crore shares) and Reliance Industries (1.29 crore shares) were the other volume toppers in that order.
Reliance Industries clocked highest turnover of Rs 270.16 crore on BSE. Tata Steel (Rs 188.24 crore), Jaiprakash Associates (Rs 171.77 crore), Aban Offshore (Rs 163.78 crore) and Unitech (Rs 139.75 crore) were the other turnover toppers in that order.
Today domestic markets are likely to open positive as US markets have shown strong northward movement for the third session on the back of positive cues of economic recovery and also Ben Bernarke’s strong comments on US economy revival. Asian markets have also paved way for robust buying across broader level. Today the domestic markets are likely to trade positive.
On Wednesday, Indian market continued its rally for the second straight session to close with phenomenal gains tracking firm cues from the markets all over the world. Market rose to the highest level in around 16 months during the trading by growing optimism about recovery in market conditions on preliminary data showing higher advance tax collection in second quarter. In addition, sentiments also helped on hopes that US is departing out of recession. Federal Reserve Chairman Ben Bernanke said the U.S. recession was likely over. Going ahead, higher US index futures also contributed to the northward journey. Further, stocks exhibited a good show after RBI governor stated that the central bank will not hike interest rates before economic recovery will come on track. The BSE Sensex ended above16,650 level and NSE Nifty closed around 4,950 mark.
The BSE Sensex closed higher by 222.59 points or (1.35%) at 16,677.04 and NSE Nifty ended up by 66.30 points or (1.36%) at 4,958.40. BSE Mid Caps and Small Caps closed with gains of 87.85 and 79.43 points at 6,126.92 and 7,308.11 respectively. The BSE Sensex touched intraday high of 16,700.56 and intraday low of 16,498.59.
On Wednesday, US markets closed higher. Stocks once again moved towards the north to mark its third remarkable gain and also the new high for 2009. There was broad based buying which was supported by profound strength in financial stocks that gained by 3.4 per cent. Multiline insurers (+5.9%), diversified banks (+3.1%), and regional banks (+4.9%) were the sector''s standouts. S&P recorded its biggest single session gain in one month. In macro economic level, August Consumer Price Index recorded 0.4% month-over-month increase, better than the expected 0.3% increase. Core consumer prices for August surged 0.1% month-over-month. Investors were once again optimistic about commodities, which helped the CRB Commodity Index advance 1.8%. Crude oil futures for the month of October delivery gained by 2.2% at $72.51 per barrel on New York Mercantile Exchange.
The Dow Jones Industrial Average (DJIA) closed higher by 108.30 points at 9,791.71. NASDAQ index gained by 30.51 points at 2,133.15 and the S&P 500 (SPX) also inclined by 16.13 points to close at 1,068.76 points.
Indian ADRs ended in green following a rise in Wall Street. In the IT space, Infosys was up 2.99%, Wipro was up 2.31%, Satyam Computers was up 1.58% and Patni Computers was up 5.32%. In the banking space, ICICI Bank was up 3.63% and HDFC Bank was up 2.74%. In the telecom space, Tata Communication was up 0.85% and MTNL was up 0.81%. In other sectors, Tata Motors was up 5.13%, Sterlite Industries was up 4.4% and Dr Reddy''s Labs was up 2.6%
The FIIs on Wednesday stood as net buyers in equity and debt. Gross equity purchased stood at Rs 2,911.20 Crore and gross debt purchased stood at Rs 469.00 Crore, while the gross equity sold stood at Rs 2,025.10 Crore and gross debt sold stood at Rs 164.50 Crore. Therefore, the net investment of equity and debt reported were Rs 886.10 Crore and Rs 304.50 Crore respectively.
On Wednesday, Indian Rupee closed at 48.23./24 per dollar, 0.84% stronger than its previous close at 48.64./66. The stronger local stock markets helped local currency to gain strength against the green back.
On BSE, total number of shares traded were 57.21 Crore and total turnover stood at Rs 6,645.31 Crore. On NSE, total number of shares traded were 102.90 Crore and total turnover was Rs 19,458.81 Crore.
Top traded volumes on NSE Nifty – Unitech with total volume traded 37085836, followed by Suzlon Energy with 32622435, Hindalco with 21064348, Tata Steel with 19209821 and SAIL with 18241427.
On NSE Future and Options, total number of contracts traded in index futures was 502299 with a total turnover of Rs 11,947.06 Crore. Along with this total number of contracts traded in stock futures were 713615 with a total turnover of Rs 24,385.32 crore. Total numbers of contracts for index options were 1270375 with a total turnover of Rs 31,013.24 Crore and total numbers of contracts for stock options were 77012 and notional turnover was Rs 2,741.12 Crore.
Today, Nifty would have a support at 4,987 and resistance at 5,056 and BSE Sensex has support at 16,758 and resistance at 16,892
(Rs. 1 Lac Application)
4 to 4.50
Globus Spirits Ltd.
4 to 5
32 to 35
55 to 60
3.50 to 4.00
1700 to 1800
120 to 130
6 to 7
1600 to 1700
Euro Multi Vision
70 to 75
4 to 4.50
1500 to 1600
Overnight gains in the US markets and positive opening in the most of the Asian indices may help the local market to add gains. The renewed buying interest in heavyweights and sectoral inices may keep the bias positive for the day. Among the key domestic indices, the Nifty could test higher levels in the 5000-5051 range and has a support at 4890. The Sensex has a likely support at 16450 and may face resistance at 16750.
US indices gained Wednesday, pushing Wall Street to its highest level in a year, with a rise in industrial production and a spike in commodity prices and equities fueling the advance. The Dow Jones added 108 points at 9792, the Nasdaq was up 31 points at 2133.
The Indian ADRs witnessed decent to firm buying support on US bourses. Tata Motors & Patni Computers were the major gainer amongst the ADRs and vaulted over 5% each, while ICICI Bank propelled 3.63%. Infosys, Satyam, Wipro, Dr Reddy, HDFC Bank, Rediff and VSNL were up over 1-2% each.
Global crude oil prices moved above $72 mark, with the Nymex light crude oil for Ocotober delivery gained by $1.58 to close at $72.51 a barrel. In the commodity space, the Comex gold for December series advanced by $13.90 to settle at $1020.20 a troy ounce.
The key benchmark indices may extend last two days gains on positive Asia after US surged on encouraging economic data. Investors will keenly watch India's wholesale price index (WPI) data in the year to 5 September 2009 to be announced by the government today. The annual rate of inflation fell 0.12% in the year to 29 August 2009.
Reliance Industries may see action on reports a unit of India's largest private sector oil refiner by market capitalisation was selling up to $880 million worth of shares in the company at a discount of about 2.7 % to its Wednesday close. The seller, Petroleum Trust, was offering up to 10 million shares at Rs 2,125 rupees, with an option to sell an additional 10 million shares that would take total proceeds to about $880 million
The sentiment will remain upbeat as preliminary data showing a strong growth in advance tax payment by India Inc raised expectations of decent-to-strong Q2 September 2009 results. Higher advance tax payment by some of the top firms in the second installment of 15 September 2009 means their profits may rise in Q2 September 2009 over Q2 September 2008. As per reports, State Bank of India, India's biggest commercial bank by branch network, has paid Rs 1838 crore in advance tax in the second installment as against Rs 1500 crore paid in last year. HDFC Bank paid Rs 425 crore advance tax against Rs 315 crore last year. But, ICICI Bank paid lower tax of Rs 501 crore against Rs 575 crore last year.
Larsen & Toubro paid Rs 210 crore as against Rs 150 crore last year. Reliance Industries paid Rs 1157 crore in advance tax against Rs 683 crore paid in last year. But, Tata Steel paid a sharply lower advance tax of Rs 400 crore Rs 1000 crore paid in last year.
Software major TCS has reportedly paid Rs 220 crore as against Rs 81 crore. Tractor major Mahindra & Mahindra paid Rs 112 crore as against Rs 17.5- crore. Tata Motors paid advance tax of Rs 130 crore in the second installment, much higher than Rs 60 crore last year. Tata Power Company paid Rs 75 crore as against Rs 14 crore in last year.
Meanwhile, the initial public offer (IPO) of the private sector ship builder, Pipavav Shipyard, was fully subscribed within an hour of opening of the issue on Wednesday, 16 September 2009. IPO was subscribed 2.67 times on the first day of subscription on Wednesday. The company also said it has allotted 1.52 crore shares to anchor investors at the top-end of the Rs 55-Rs 60 price band.
Asian stocks hit their highest level in 13 months on Thursday after U.S. economic data raised hopes that the global economic recovery was strengthening. The key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan rose by between 0.39% to 1.47%.
Japan's Nikkei rose 1.35% after Bank of Japan held key rate steady at 0.1% as expected.
Confidence in the world economy held at a record high in September after reports suggested the recession is over. The Bloomberg Professional Global Confidence Index rose to 58.54 this month from 58.12 in August. The index exceeded 50 for a second month, which means there were more optimists than pessimists.
The US markets rallied, with the benchmark indices up more than a percent, after industrial production rose for the second straight month and weakness in the dollar boosted commodity and industrial stocks. At the day's close, the Dow gained 108.30 points, or 1.1%, to 9,791.71. The S&P 500 index added 16.13 points, or 1.5%, to 1,068.76, while the Nasdaq Composite Index rose 30.51 points, or 1.5%, to 2,133.15. The S&P is up about 60% from its march 9 low.
Encouraging economic data also helped the US markets stay upbeat. Industrial production rose 0.8% in August, better than expected, and the prior month was revised to a 1% gain double the 0.5% originally reported.
August consumer price index showed a 0.4% increase, which was a tad higher than the expected 0.3% increase core consumer prices for August increased 0.1% in line with forecast.
Back home, the key benchmark indices surged to their highest level in nearly 16-months on Wednesday, 16 September 2009 tracking firm global stocks. The market gained for the second straight day after taking a breather on Monday, 14 September 2009, following gains in the preceding six trading sessions. The BSE 30-share Sensex rose 222.59 points or 1.35% to 16,677.04, its highest closing since 22 May 2008.
As per the provisional figures on NSE, foreign funds bought shares worth Rs 1105.64 crore and domestic funds bought shares worth Rs 143.45 on Wednesday.
RIL may raise as much as US$880mn by selling its own shares which were in a trust so far (ET)
TCS sets up global delivery unit in Argentina (ET)
Supreme court has allowed TVS Motor Company to make and sell the 125cc 'Flame' motorbikes sporting twin-spark plugs (BS)
TCS eyes US$700m outsourcing deals from Latin America (BL)
Sun Pharmaceutical Industries and US subsidiary Caraco Pharmaceuticals, plan to file 30 Abbreviated New Drug Applications with the US Food and Drug Administration (FDA) to market generic drugs (BS)
RNRL moves apex court to make NTPC a party to case with RIL on gas supplies from the Krishna Godavari Basin D6 block (BL)
Orchid Chemicals has received approvals from the US Food and Drug administration for its anti-infection drug Piperacillin-Tazobactam, in injectible form (BL)
Bharti Shipyard has increased its stake in Great Offshore to 22.5% (BL)
Petron Engg bags Rs1.5bn order from Power generation Infrastructure (BL)
Tata Capital to raise Rs21bn in Tier II capital by the end of March 2011 (BL)
GMDC to invest Rs6bn in wind power project (BS)
Power Grid Corporation of India has agreed to invest about Rs90bn for improving the power evacuation infrastructure in the state (BS)
LIC Housing Finance has raised US$135mn through sale of shares to institutional investors (BS)
Supreme Court has criticised the MIDC for allotting 17acres in Nashik industrial area in favour of M&M (BS)
MMTC has resumed the bidding process to import 12.5 MT of non-coking coal for NTPC (ET)
Unitech Wireless to roll out services by year-end (ET)
Prakash Industries to add 625mw at Chhattisgarh unit (ET)
Reliance Infra terms RIL marketing margin illegal, refuses to pay levy (ET)
Petronet LNG to set up two power plants and is planning a rights issue to partfund the project (ET)
Koutons to raise Rs1bn through QIP for expansion (ET)
The ministry of civil aviation will shortly move a note before the Union cabinet for infusing additional equity in state-owned Air India (BL)
The Government of India will unveil a new policy on solar energy as part of its target to produce 20,000MW of solar power by 2020 (BL)
The Government is expected to bring out a revised Wholesale price Index (WPI) by December (BL)
The Indian Shipowners’ association that represent 36Indian shipping companies, has estimated Rs550bn towards replacement of aging ships in India (BL)
Power Minister is believed to have instructed state-run NTPC to sign a gas supply deal (BS)
States have finally reached a consensus on having two basic rates under the Goods and Services Tax (GST), slated to be rolled out on April 1, 2010. There will be one standard rate of taxation and another low rate of taxation for essential commodities.
NPPA revises prices of 240 medicines (ET)
Real strength is not just a condition of one's muscle, but a tenderness in one's spirit.
The bulls are in high spirits flexing their muscles as equities continue to remain on a roll globally. Hopes of a sustained economic rebound remain notwithstanding the fact that stocks are looking pricey. Inflation is not a near-term concern in the US and other advanced countries. Even in China, inflation remains a distant worry. However, in India it already is giving some sleepless nights to the RBI and the Government. The coming few months will be a big litmus test for the RBI and the Centre. Hopefully, they will come out with flying colours.
Apart from inflation, other worries seem to be ebbing. Recent reports on GDP, industrial output, tax collections and even exports suggest there could be some positive surprises on the economic front. The advance tax numbers also point to a healthy quarterly performance by India Inc. Liquidity is not an issue for now, as FIIs continue to be upbeat.
So, the short story is that the momentum is with the bulls for now. Today, we expect another higher opening. The fact that the market has rallied so much does leave scope for a slight reversal anytime now.
FIIs were net buyers of Rs11.05bn in the cash segment on Wednesday on a provisional basis while the local funds pumped in Rs1.43bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs7.74bn. On Tuesday, FIIs were net buyers of Rs8.86bn in the cash segment. The net FII investments in Indian stocks this year have crossed $9bn. Mutual Funds were net buyers of Rs981mn on Tuesday.
There is no stopping the bulls on Wall Street, as US stocks gained yet again on Wednesday, pushing the main stock indices to its highest level in a year. A rise in industrial production and a spike in commodity prices fueled the advance.
The Dow Jones Industrial Average climbed 108 points or 1.1%, at 9,791.71, closing at the highest point since Oct. 6, 2008. The S&P 500 index rose 16 points or 1.5%, at 1,068.76, closing at its highest point since Oct. 3 of last year. The Nasdaq Composite index gained 30 points or 1.5%, at 2,133.15 and was on track to close at its highest point since Sept. 26, 2008.
The major US indexes have now gained for 8 of the last 9 sessions.
Stock gains Wednesday were broad based, with 24 of 30 Dow components rising. The Dow's financial shares gained too. A variety of bank shares rallied, with the KBW Bank index rising 4%.
The combination of improving economic news and fiscal and monetary stimulus has helped boost US stocks over the last six months. Since bottoming at a 12-year low in March, the Dow has gained 47% and the S&P 500 has gained 55%. Since bottoming at a 6-year low, the Nasdaq has gained 65%.
With the exception of a 7% pullback in late June and early July that preceded the start of the second-quarter earnings, the market has essentially been on the upswing for months, with occasional periods of sideways movements.
The current rally could hit resistance in November when a number of the government stimulus programs peter out.
Industrial production gained 0.8% in August after rising 1% in the previous month. Economists thought it would rise 0.6%. Capacity utilization rose to 69.6% from a revised 69% previously. Economists expected no change.
The Consumer Price index (CPI), a measure of consumer inflation, rose 0.4% in August versus forecasts for a rise of 0.3%. There was no change the previous month. So-called core CPI, which strips out volatile food and energy prices, rose 0.1% after rising 0.1% in the previous month.
Verizon Communications slipped 2% after UBS downgraded it to "neutral" from "buy," according to published reports.
Adobe shares fell around 6% after the software maker said late on Tuesday it was buying e-commerce firm Omniture for about $1.8 billion.
Anheuser-Busch InBev, the maker of Bud beer, began trading on Wednesday on the New York Stock Exchange 10 months after it was bought by Belgian brewer InBev. Shares gained 2%.
The dollar fell versus other major currencies, hitting a 9-month low against the euro and a 7-month low against the yen. The falling greenback boosted dollar-traded commodities including oil and gold.
US light crude oil for October delivery rose $1.58 to settle at $72.51 a barrel on the New York Mercantile Exchange. In addition to the impact from the weak dollar, crude oil prices were also reacting to the government's weekly inventories report, which showed crude supplies fell more than expected in the latest week.
COMEX gold for December delivery rose $13.90 to settle at $1020.20 an ounce, a record high.
Treasury prices rose, lowering the yield on the benchmark 10-year note to 3.43% from 3.45% late on Tuesday.
Volume was higher than in recent days, in part because of the impact of the quarterly options expiration Friday. Stock index futures and options, and individual stock futures and options all expire at the same time. That can create volatility in the days leading up to the expiration and the day of the expiration.
After the close, Oracle reported weaker quarterly revenue that missed forecasts. The software maker's quarterly earnings of 30 cents per share were in line with forecasts. Shares slipped in extended-hours trading.
European shares rose for the ninth time in the past 10 sessions. The pan-European Dow Jones Stoxx 600 index climbed 1.3% to 244.57, closing at its highest level since Oct. 6.The UK's FTSE 100 index rose 1.6% to 5,124.13, while the German DAX index rose 1.3% to 5,700.26 and the French CAC-40 index advanced 1.6% to 3,813.79.
It was indeed a good day for bulls on Wednesday as the NSE Nifty inched closer to the 5,000 mark. Firm cues from the international markets coupled with impressive advance tax numbers helped the markets extend gains for second straight day.
In addition, Fed Chairman Ben Bernanke’s comment on recession in the US stating that it is "very likely" over and to top it all, Warren Buffett said he is buying equities further boosted sentiment all over.
Coming back to domestic markets, the upswing was driven by buying witnessed in the metals, banking, realty and auto stocks. Even the broader markets i.e. the mid-cap and the small-cap stocks attracted buying.
The BSE Sensex advanced 222 points or 1.4% at 16,677 after touching a high of 16,700 and a low of 16,498. The index opened at 16,498 against the previous close of 16,454. The NSE Nifty surged 66 points to shut shop at 4,958.
In Asia, the Nikkei in Japan gained by 0.6% at 10,270 while Australia's S&P/ASX ended higher by 2.5% at 4,650. The Hang Seng index in Hong Kong gained 2.5% at 21,402. However, Shanghai SE Composite in China fell by 1.2% at 2,999.
In Europe, stocks were in the green. The FTSE in the UK was up 1.5%, The DAX in Germany was up 1.1% and the CAC 40 index in France gained 1.5%.
Coming back to India, among the BSE sectoral indices, the Metal index was the top gainer, gaining 4.3%, followed by the Consumer Durables index that was up 2%. The BSE Bankex index up 2% and the BSE Auto index was up 2%.
The BSE Mid-Cap index gained 1.5% and the BSE Small-Cap index gained 1.1%.
Among the 30-components of Sensex, 24 stocks ended in the green and 6 ended in the negative terrain. Among the major gainers were Tata Steel, Tata Motors, Hindalco, SBI, ACC, Hero Honda and Sterlite.
On the other hand, Reliance Infra, HUL, Wipro and HDFC were among the major laggards.
Outside the frontline indices, the big gainers in the broader market were LIC Housing Fin, EIH Ltd, Indian Hotels, EKC and LITL. On the other hand, losers included Central Bank, Bank of India, Apollo Hosp, Gujarat NRE and Ackruti.
Shares of LIC Housing Finance surged by over 11% to Rs749 after the company announced that it raised US$135mn selling 10mn shares to institutional investors at an average price of Rs658 per share.
Citigroup Inc., Enam Securities Pvt., Kotak Mahindra Capital Co. and Nomura Holdings Inc. managed the sale.
The stock opened at Rs665 and made an intra-day high of Rs762 and a low of Rs665. Total traded volumes stood at 1.9mn shares.
Shares of Orchid Chemical sky rocketed by over 25% in a single trading session to end at Rs158 after the company announced that it has received approvals from the US FDA for its ANDAs for Piperacillin and Tazobactam for Injection. These approvals cover Orchid's generic equivalents in 2.25 g, 3.375 g and 4.5 g vial as well as 40.5 g (Pharmacy Bulk Package) dosage forms and strengths.
The US FDA has also determined that Orchid is a 'first applicant' for the products and has accordingly granted 180-day generic drug exclusively, under applicable provisions. Orchid would be launching this product in marketing and distribution partnership with Apotex in the US.
Shares of Elder Pharma recovered nearly 10% from its intra-day low and ended lower by 5% at Rs304. The stock fell to an intra-day low of Rs260 after media reports stated that The Serious Fraud Investigation Office (SFIO) has completed its year-old probe into alleged accounting irregularities in Elder Pharmaceuticals.
Reports stated that no action has been initiated, as of date, on the basis of the SFIO report.
There were also media reports stating that company is in preliminary talks with US based PE firm T A Associates to sell upto 20% stake. However, later the company clarified that the statement in the article "Elder promoters want to dilute up to 20% stake" is factually incorrect and misleading.
Shares of TVS Motors shot up by over 10% to Rs57.9 after the Supreme Court allowed the company to sell Flame motorcycle and referred the patent with Bajaj Auto to the Madras High Court Jurisdiction.
Meanwhile, Shares of Bajaj Auto came off it days high and ended up by only 1% at Rs1380. The stock hit an intra-day low of Rs1365 after the courts decision over the TVS motorcycle. The total volumes traded in Bajaj Auto was 56,000 shares on BSE
The hotel stocks were in demand after the Reserve Bank of India notified that hotels be taken out of the Real Estate Exposure for Banks to those entrepreneurs who themselves run these ventures. This new relaxation/incentive would enable hotels to avail larger credits at better interest rates, which would help to lower the overall cost of such hotel projects.
Secretary, Ministry of Tourism had actively taken up with the Ministry of Finance/Reserve Bank of India earlier this year, to accord infrastructure status to hotel projects, and provide fiscal amenities for creation of additional hotel room capacity to meet the surge in demand in the tourism sector.
Stocks like Indian Hotels surged by over 9% to end at Rs73.8, EIH Ltd advanced by over 10% at Rs131.45, Hotel Leela shot up by over 10% to Rs38.85, Taj GVK surged over 7% to end at Rs131.35 and Viceroy Hotels was locked at 5% upper circuit at Rs41.80.