Thursday, August 30, 2012
Indian markets may open on a negative note led by negative Asian cues. SGX Nifty is trading 11 points lower. Events for the day: F&O Expiry for the month of August. Headlines for the day: Hospira to buy manufacturing facility from Orchid Chemicals. Thejo Engineering to launch Rs21 cr IPO on Sept 4. SKS Microfinance allots 44.5 lakh shares to Kumaon investment.
Turnover drops Nifty September 2012 futures were at 5325.90, at a premium of 38.10 points over spot closing of 5287.80. Nifty August 2012 futures were at 5294.95, at a premium of 7.15 points over spot closing of 5287.80. Turnover on NSE's futures & options (F&O) segment declined to Rs 170841.35 crore from Rs 173663.23 crore on Tuesday, 28 August 2012. State Bank of India (SBI) August 2012 futures were at 1834.10, at a premium over spot closing of 1828.65. United Spirits August 2012 futures were at 982.80, at a discount compared to spot closing of 983. Jaiprakash Associates August 2012 futures were at 63.60, at a discount compared to spot closing of 63.70. In the cash market, the S&P CNX Nifty lost 46.80 points or 0.88% to settle at 5,287.80, its lowest closing level since 6 August 2012. The August 2012 derivatives contracts expire tomorrow, 30 August 2012.
Market may extend recent losses on weak Asian stocks The market may extend recent losses on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 6.50 points at the opening bell. The market may remain volatile today, 30 August 2012, as traders roll over positions in the futures & options (F&O) segment from the near-month August 2012 series to September 2012 series. The August 2012 derivatives contracts expire today, 30 August 2012. Asian stocks traded lower Thursday, as weak data from Japan and declining commodity prices put pressure on major markets a day ahead of a much-awaited speech from U.S. Federal Reserve Chairman Ben Bernanke.
Monday, August 27, 2012
MRF foresees a severe rubber shortage in the next 4-5 years. (BL) ONGC Videsh Ltd wants Iran to pay a higher return on the US$5-6 bn it plans to invest in developing Persian Gulf gas field of Farzad-B to make up for the risk involved in investing in US-sanctioned country. (BL) As part of its focus on taking banking services to villages, Indian Bank proposed to set up 1,525 ultra small branches in rural areas across the country, a top official has said. (ET) Marico's beauty and wellness arm Kaya, launched in 2002, is likely to miss its forecast to break even by 2013 as it continues investing in new stores and formats, a top company official has said. (ET)
Indian equity benchmarks closed modestly lower at the end of another quiet session, as political gridlock in parliament offset healthy FII inflows. Weakness in the global markets also weighed on the sentiment amid uncertainty about further policy intervention by leading central banks. Trading volumes continue to be low in US and European markets. Investors are also cautious ahead of crucial meetings between the Greek prime minister and leaders of Germany and France. Part of the minor pullback could also be attributed to profit booking after four weeks of gains. The NSE Nifty ended below 5,400 after having crossed the milestone earlier in the week. The Sensex lost ~0.5%. The broader indices too finished in the red, dragging the market breadth into negative territory.
"Into each life some rain must fall, some days must be dark and dreary." - Henry Longfellow. It’s not the brightest of days in Mumbai though the rains sure are more than welcome. The start for the market isn’t bright either. The monsoon session of parliament is likely to be a washout, with the BJP not in any mood to relent on its tough stance on the CAG reports. So, brace for a continued war of words between the UPA and BJP leaders on the coal block allocation controversy. A deadlocked parliament and a belligerent BJP mean no meaningful progress on pending reforms like diesel price hike and FDI in multi-brand retail. Markets will be disappointed, as the recent run-up has been fueled by expectations of positive movement on reforms. FII flows have been pretty robust this month but may not sustain in the absence of reforms.
The Indian markets open today's session on a flat note due to mixed global cues. The major heavyweights supporting the market are RIL, M&M, ICICI Bank, HDFC, Tata Motors, BHEL and HDFC Bank. Individual stocks like, Bharti Airtel gained on reports that the company may file IPO papers of its subsidiary Bharti Infratel soon. Reliance Industries rose after foreign research firm Goldman Sachs upgraded the stock. Among the 13 sectoral indices, the gainers are - BSE Oil & Gas up by 0.68%, BSE CD up by 0.28% and BSE FMCG up by 0.20%. Losers - BSE Realty fell by 0.76%, BSE Metal fell by 0.71%, BSE Bankex fell by 0.62%. At 9.51 am, the Sensex was trading at 17772.90, down by 9 points and the Nifty was trading at 5384, down by 2 points.
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 2.50 points at the opening bell. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near-month August 2012 series to September 2012 series. The August 2012 derivatives contracts expire on Thursday, 30 August 2012. The Supreme Court on Friday, 24 August 2012, issued notice to Tata Motors on the West Bengal state government's appeal challenging a Calcutta high court judgment quashing a state law for returning land acquired from farmers for the aborted Nano small car factory in Singur. A bench of Justices H L Dattu and C K Prasad issued notice to the car manufacturer and said the high court directed stay on operation of the law will continue. A division bench of the high court on June 22 annulled the law enacted by the Trinamool Congress government in West Bengal to wrest control of the land acquired for setting up the Nano car factory at Singur by Tata Motors. The court had ruled that the Singur Land Rehabilitation and Development Act, 2011 was unconstitutional and void. Prior to this, the single judge of the high court had upheld the Act.
Sunday, August 26, 2012
Saturday, August 25, 2012
The markets remained under pressure for the entire day on account of weak global cues. The Sensex ended 67 points lower while the Nifty fell 29 points in trade today. Major Headlines for the day: India's oil import bill zooms by 43% at Rs726,386 cr in FY12 2G Scam: SC gives green signal to Chidambaram SBI expects Rs4K crore capital infusion IFCI hits monthly low after govt raises stake to 55.57%
The market edged higher for the fourth consecutive week as world stocks rose on speculation policy makers in the US and China will ease monetary policy to boost growth in the world's two biggest economies. However, gains were capped as rally in the global markets fizzled out on Friday, 24 August 2012, after a US Federal Reserve official threw cold water on the notion that another round of stimulus from the Federal Reserve is on its way. The BSE Sensex rose 92.13 points or 0.52% to 17,783.21. The 50-unit S&P CNX Nifty rose 20.40 points or 0.38% to settle at 5,386.70. The BSE Mid-Cap index fell 0.63% and the BSE Small Cap index fell 0.61%. Both these indices underperformed the Sensex. '
Key benchmark indices edged lower in choppy trade to reach one-week closing lows as investors grew gloomy about the health of the global economy and after a Federal Reserve official threw cold water on the notion that another round of stimulus from the Federal Reserve is on its way. The barometer index, BSE Sensex, lost 67.01 points or 0.38%, off close to 40 points from the day's high and up about 60 points from the day's low. The market breadth was negative. Reliance Power (RPower) edged higher after the company signed an initial agreement with China Datang Corporation to develop and operate power and other energy projects in India and overseas. The Sensex has gained 547.03 points or 3.17% in this month so far (till 24 August 2012). The Sensex has jumped 2,328.29 points or 15.06% in calendar 2012 so far (till 24 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,647.35 points or 17.49%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 740.57 points or 3.99%.
The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near-month August 2012 series to September 2012 series. The August 2012 derivatives contracts expire on Thursday, 30 August 2012. The quantum and distribution of rains towards the close of the crucial month of August, Q1 June 2012 GDP data, news out of Greece, a speech of Federal Reserve Chairman Ben Bernanke, and outcome of the monthly policy meetings of European Central Bank (ECB) and Bank of England in early September 2012 will determine the near term trend on the bourses.
Thursday, August 23, 2012
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 23/8/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH B 81238 35.71 23/8/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH S 78840 35.35 23/8/2012 514332 Anuvin Inds PRIYAL CHETAN KOTHARI S 50000 10.58 23/8/2012 590033 APW President APW ELECTRONICS GROUP LIMITED S 35000 206.69 23/8/2012 524760 Arvind Intl-$ HARJEET SINGH B 100000 15.50 23/8/2012 503722 Banswara Syn-$ SUCHITA BHANDARI B 100759 68.87 23/8/2012 503722 Banswara Syn-$ PINKY EXHIBITORS PRIVATE LIMITED S 91934 68.91
The Indian markets trimmed most of its gains to end flat in trade today as profit booking weighed on the market sentiment. Both BSE and NSE shut shop nearly 3 point higher. Major Headlines Shree Cement hits 52-week high on strong Q1 nos IT sector tops the sectoral list RCom hits 52-week low Gold shines to record high of Rs31,029
Shares of seven FMCG shares rose by 0.05% to 4.08% at 15:19 IST on reports of revival of monsoon rains this month. Marico (up 4.08%), Nestle India (up 2.06%), Hindustan Unilever (up 1.36%), ITC (up 0.9%), Jubilant FoodWorks (up 0.56%), Dabur India (up 0.13%) and Colgate-Palmolive (India) (up 0.05%), edged higher. The BSE FMCG index was up 0.78% at 5,277.14 . It outperformed the Sensex, which was down 0.06% at 17,835.72. The BSE FMCG index had outperformed the market over the past one month until 22 August 2012, rising 6.04% compared with the Sensex's 4.01% rise. The index had also outperformed the market in past one quarter, gaining 13.80% as against 11.36% rise in the Sensex. India's monsoon rains were slightly below average in the past week, but heavy downpours in Rajasthan eased fears of a repeat of the widespread drought that gripped the country three years ago. According to reports, overall rainfall deficit has narrowed from 36% earlier to 15% in the last few days, which has pushed up sowing of rice and cotton over their normal acreage. The monsoon rains--which make up around 70% of India's annual rainfall--are crucial to the nation's agriculture sector and broader economy. More than 60% of the country's farmland is rain-fed. The timing, distribution and quantity of rainfall are all important for crops. The four-month southwest monsoon season that starts from June accounts for almost 70% of total annual moisture that Indian soil receives in a year. FMCG firms derive substantial revenue from rural sales
Key benchmark indices eked out marginal gains in volatile trade as world stocks rose amid hope weak Chinese manufacturing data could lead to fresh monetary easing from Beijing. Expectations of a possible further monetary policy easing from the US central bank aided gains on the bourses as minutes from the US Federal Reserve meeting on July 31-Aug. 1 showed that the central bank's policy committee discussed a third round of quantitative easing. US is the world's biggest economy and China is the second biggest. The Indian government's announcement on Wednesday of easing of rules regarding overseas borrowing by local companies also aided gains on the domestic bourses. The barometer index, BSE Sensex, advanced 3.38 points or 0.02%, off about 120 points from the day's high and up close to 60 points from the day's low. The market breadth was negative.
Wednesday, August 22, 2012
After Tuesday’s smart rally, the Indian equity markets ended with modest losses amid weakness in global markets and due to concern about the fate of pending reforms. It was a listless session, as market participants looked for fresh catalysts to push the main indices higher from here on. The NSE Nifty did manage to surge past the previous day’s high though. However, the Nifty was stuck in a ~30-point trading band throughout the session. The index held on to the 5400 mark after opening below the crucial level, but was unable to surge past 5440. The Sensex ended at 17,846, down by 38 points or 0.2% over the previous close. It had earlier touched a day’s high of 17,912 and a day’s low of 17,800. It opened at 17,827.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 22/8/2012 512161 8K Miles Software VEDAWALA SANGITABEN PARESHKUMAR S 98434 22.40 22/8/2012 524412 Aarey Drugs DEEPIKA JASMIN SHAH B 158569 33.27 22/8/2012 504629 Anil Special-$ MAHALAXMI SAWS PRIVATE LIMITED S 111609 4.83 22/8/2012 514332 Anuvin Inds HEMANT B DESAI S 50000 10.79 22/8/2012 530233 Auro Lab SNEHALATHA SINGHI S 41322 6.55 22/8/2012 532797 Autoline Inds CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 131757 188.99 22/8/2012 532797 Autoline Inds V N G IMPEX PVT LTD B 83265 185.39 22/8/2012 532797 Autoline Inds AARKEN ADVISORS PRIVATE LIMITED S 70000 185.40
The Indian market closed today's trading session in the negative zone backed by weak domestic and global cues. The Sensex closed 38.40 points lower while the Nifty fell 8.15 points. Major Headlines of the Day: Bharti Airtel gets 2nd downgrade Just Dial files for IPO; plans to sell 9.55 million shares AGC Networks rallies 41% in past 1-month NSE removes NCC, SCI, South Indian Bank, Central Bank from F&O
Key benchmark indices snapped two day winning streak as global shares slipped on Wednesday as investors weighed up whether signs of progress in the euro zone debt crisis warranted the recent surge and as Japan's wider-than-expected trade deficit in July provided a reminder of the problems facing top economies. The barometer index, BSE Sensex, was down 38.40 points or 0.21%, up close to 45 points from the day's low and off about 65 points from the day's high. The market breadth turned negative form positive in late trade. Index heavyweight and cigarette maker ITC edged higher in volatile trade. Another index heavyweight Reliance Industries (RIL) edged lower in volatile trade. From a recent low of 17,657.21 on 16 August 2012, the Sensex rose 228.05 points or 1.29% in two trading sessions to settle at 17,885.26 on 21 August 2012. The Sensex has gained 610.68 points or 3.54% in this month so far (till 22 August 2012). The Sensex has jumped 2,391.94 points or 15.47% in calendar 2012 so far (till 22 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,711 points or 17.91%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 676.92 points or 3.65%.
Sunday, August 19, 2012
The Indian markets registered marginal gains in a truncated week with the Sensex rising 0.76% and the Nifty up by 0.86% for the week ended August 17, 2012. Major Headlines of the week Inflation for July at 6.87% vs 7.25% in June India’s export slips 14.8% in July this year PMEAC lowers 2012-13 GDP forecast to 6.7% Jet fuel price up 3.2%; 3rd straight hike since July RBI should pay 7% interest on CRR deposits: Fin Ministry
The market may consolidate in a truncated week ahead amid lack of major triggers in the near term. The stock markets remains closed on Monday, 20 August 2012, on account of Ramzan Id. The progress of monsoon rains will be closely watched. The monsoon rains--which make up around 70% of India's annual rainfall--are crucial to the nation's agriculture sector and broader economy. More than 60% of the country's farmland is rain-fed. The India Meteorological Department (IMD) expects normal rains in August -- a critical month for summer crops. It expects rainfall to be 5-6% below average in September due to the possibility of El Nino. The weather office expects rainfall during August-September to be 91% of the long-term average.
Key benchmark indices eked out small gains in choppy trade as euro zone debt worries eased after German Chancellor Angela Merkel on Thursday, 16 August 2012, said Germany will do whatever it can to keep the euro. The market sentiment was also boosted by data showing that foreign funds remained buyers of Indian stocks on Thursday, 16 August 2012. The barometer index, BSE Sensex, advanced 33.87 points or 0.19%, off 110.31 points from the day's high and up 68.46 points from the day's low. FMCG stocks rose on renewed buying, with Hindustan Unilever (HUL) and Bajaj Corp scaling record high and Tata Global Beverages hitting 52-week high. Index heavyweight and cigarette maker ITC recovered from Thursday's slide. IT stocks rose after tech-heavy Nasdaq Composite index rose 1% on Thursday, 16 August 2012. The Sensex has gained 454.90 points or 2.63% in this month so far (till 17 August 2012). The Sensex has jumped 2,236.16 points or 14.46% in calendar 2012 so far (till 17 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,555.22 points or 16.88%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 832.70 points or 4.49%.
Thursday, August 16, 2012
Reliance Industries has proposed to drill the first exploration in almost five years in the flagging gas fields at its own cost. (BL) Reliance Industries is in talks with BP to buy its petrochemicals plant in Malaysia as it seeks to replicate its domestic success in building fully integrated operations in all its businesses. (ET) The US drug regulator is expected to inspect Aurobindo Pharma Ltd’s two manufacturing facilities in Andhra Pradesh during September-December. (BS) Cipla has launched ‘Qvir’, a four-drug kit priced at ~158 to be used for treating HIV/AIDS. (BS)
Having a dream is what keeps you alive. Overcoming the challenges make life worth living. - Mary Tyler Moore Another Independence Day has come and gone. The Prime Minister has promised that the Government will work hard for India's rapid economic growth and for shielding the country from the effects of the global economic slowdown. Blaming lack of political consensus for the logjam in many issues the PM says the time has now come to view the issues which affect our development process as matters of national security. The opposition has termed the PM’s speech as lackluster and uninspiring.
The Indian markets may open on a flat note led by mixed global peers. SGX Nifty is trading 0.50 points higher. Events for the day: Ex date for stock split of VTM. Ex date for final dividend of Bharti Airtel and Gail India. Headlines for the day: RIL proposes to drill KG-D6 probe well at own cost. GAIL eyes stake in Russia's planned LNG plant. CCI allows merger of India Securities with Essar Capital. Indian Indices: The Indian markets may begin the trade on a flat note tracking mixed global cues. SGX Nifty is trading 0.50 points higher. Jupiter Infomedia, a web infomedia company with online publications on business, encyclopedia and yellowpages, will list its equity shares on BSE SME platform today. On Tuesday (August 14, 2012), the Sensex settled at 17728, up by 94 points while the Nifty closed at 5380, rising by 32 points. Global Indices: Asian stock markets steadied on Thursday (August 16, 2012) as the investors took the sidelines, waiting for more clues over the timing and extent of any further stimulus to tackle the euro zone's debt crisis and support global growth. European shares ended flat on Wednesday (August 15, 2012), consolidating after a recent strong rally and held back by weaker mining stocks after downbeat results from Eurasian Natural Resources. US stocks finished the day roughly flat as investors juggled an unexpected contraction in domestic manufacturing activity and a mixed batch of corporate earnings. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs361.60 crore on August 13, 2012. The domestic investors sold Indian shares worth a net of Rs66.00 crore on August 13, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices surged to their highest level in three months on Wednesday following a report of a steep drop in US oil stockpiles and fresh tensions in the Middle East.
The market is likely to open higher on positive Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 11 points at the opening bell. Asian stocks rose on Thursday as investors await further cues from the central banks of any further stimulus to revive global economic growth. India's largest private sector aluminum producer by capacity Hindalco Industries' US unit Novelis Inc on Tuesday, 14 August 2012 posted lower quarterly revenue as shipments fell and aluminum prices remained weak. The Atlanta-based aluminum product maker's revenue fell 18 percent in the first quarter to $2.6 billion. Net income rose to $91 million from $62 million a year earlier as the company set aside less money for income tax during the quarter. Shipments of aluminum-rolled products dipped 6 percent to 722 kilotonnes during the latest concluding quarter. Average aluminum prices declined $626 per tonne in the first quarter compared to the same period last year.
Reliance Power rose 1.36% at Rs 93.50 at 13:45 IST on BSE after the consolidated net profit rose 22% to Rs 240 crore on 110% surge in operating revenues to Rs 1136 crore in Q1 June 2012 over Q1 June 2011. The result was announced during trading hours today, 14 August 2012. Meanwhile, the BSE Sensex was up 81.51 points, or 0.46%, to 17,714.96. On BSE, 10.15 lakh shares were traded in the counter as against an average daily volume of 13.17 lakh shares in the past one quarter.
The Indian markets emerged from a gloomy session of the opening bell and shut shop with smart gains in trade today. The Sensex rose 95 points higher while the Nifty rose 32 points. Major Headlines India’s export slips 14.8% in July this year Inflation for July at 6.87% vs 7.25% in June KFA extend’s yesterday’s rally; hits weekly high RPOWER cons Q1 net profit jumps 22% Asia's oldest exchange to unveil its IPO in 2013
Key benchmark indices edged higher for the second straight day and attained their highest closing level in nearly 22 weeks after the latest data showed the rate of growth in inflation based on the wholesale price index (WPI) fell to the slowest pace in nearly three years in July 2012, building hopes that the central bank will find more space to ease monetary policy and revive industrial growth that has slumped largely due to high interest rates over the past couple of years. Index heavyweight and cigarette maker ITC scaled a record high. Another index heavyweight Reliance Industries (RIL) also edged higher. The barometer index, BSE Sensex, jumped 94.75 points or 0.54%, off close to 25 points from the day's high and up 155 points from the day's low. The market sentiment was also boosted by data showing continuation of buying of Indian stocks by foreign funds and firm global stocks.
Tuesday, August 14, 2012
The bauxite mining operation in Mali Hill in south Odisha’s Koraput district by Hindalco Industries Ltd has been stopped due to an agitation by the local tribal people. (BS) Oil & Natural Gas Corporation has decided to set up a Rs50bn urea manufacturing unit in North Tripura district in joint venture with a private company. (BL) Sun Pharma raised its offer price for the remaining shares of Israeli major Taro Pharma by as much as 60%. It will have to cough up about US$600mn for the remaining shares under the new offer. (BS) L&T has secured orders totalling over Rs20bn across business segments in the last 45 days. (BL)
Indian stock indices finished near day’s peak, spurred by growing speculation about impending policy measures from the Centre to give a fillip to the rapidly decelerating economy. Media reports say that the Government is contemplating kick-starting it’s disinvestment plan soon. The Finance Ministry is also reportedly considering plans to speed up the approval process for the core sectors of the economy, besides boosting a comatose primary market. An intraday recovery in the European markets also played a role in lifting the frontline indices towards the close of trade. Before the late spurt though, the key Indian indices had been essentially subdued. The BSE Sensex ended at 17,633, up 75 points or 0.4% over the previous close. It had earlier touched a day's high of 17,642 and a day's low of 17,522. It opened at 17,551.
Between stimulus and response there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom. Viktor E. Frankl. The main Indian equity indices are seeking freedom from the narrow trading range they have got stuck in of late. While the opening could be a tad positive, the overall trading sentiment will hinge on inflation data for July.With the markets closed for the Independence Day on Wednesday and global markets too in a consolidation mode, investors could just choose to remain on the sidelines. Meanwhile, yoga guru Baba Ramdev’s protest against Black Money seems to be giving the embattled UPA regime a tough time. While there might not be any immediate political fallout, the Congress-led alliance could perhaps pay for its lapses in governance in the 2014 Lok Sabha polls.
Indian markets may open on a flat to positive note tracking mixed global cues. SGX Nifty is trading 6.50 points higher. Events for the day: Results: Opto Circuits (India), Essar Oil, Pipavav Defence and Offshore Eng, Piramal Healthcare, Reliance Infrastructure, Reliance Power, Unitech, HDIL, Hindalco Industries, Hindustan Copper, MMTC, IDFC, Videocon Industries, National Aluminium Co, Welspun Corp");'> Welspun Corp, Jain Irrigation Systems. Headlines for the day: BoB hikes interest rates on deposits by up to 1.75%. Cement cos told to comply with CCI's order within 90 days. Welspun Corp bags orders worth Rs819 cr.
The market is likely to open higher tracking mostly positive Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 6.50 points at the opening bell. Hindalco Industries, Reliance Infrastructure and IDFC unveil their Q1 results today, 14 August 2012. Hindalco Industries' US unit -- Novelis Inc. -- also unveils Q1 June 2012 results today, 14 August 2012. Most Asian shares rose on Tuesday ahead of more macro economic data figures from Europe and the United States later in the global day. On the macro front, inflation based on the monthly wholesale price index (WPI) is seen inching up to 7.4% in July 2012 from 7.25% (provisional) for the month of June 2012, as per the median estimate of a poll of economists carried out by Capital Market. The data is due for release at 11:30 IST today, 14 August 2012. Private sector steel major Tata Steel after market hours on Monday, 13 August 2012 said consolidated net profit dropped 88.81% to Rs 597.88 crore on 2.48% rise in total income to Rs 33821.20 crore in Q1 June 2012 over Q1 June 2011. Tata Steel said the Q1 June 2011 net profit was boosted by Rs 3361.92 crore due to profit on sale of non current investments.
Key benchmark indices edged higher with the market sentiment boosted by data showing continuation of buying of Indian stocks by foreign funds. The market breadth turned positive from negative in late trade. The barometer index, BSE Sensex, achieved its highest closing level in 21-1/2 weeks. The 50-unit S&P CNX Nifty scaled its highest closing level in nearly 19 weeks. The Sensex jumped 75.71 points or 0.43%, up close to 120 points from the day's low and off about 10 points from the day's high. Private sector banking major HDFC Bank scaled record high. Index heavyweight Reliance Industries (RIL) edged higher.
Saturday, August 11, 2012
GVK’s Q1FY13 results were dismal led by poor PLF across power plants, MMR expenses at JP-II and Gautami, muted show at airports, one time expenditure (~|30 crore) at MIAL and higher interest cost for additional stake acquisition of MIAL and BIAL. While, the near term pain on earnings is likely in terms of poor power segment performance and high interest cost, GVK is looking for PE deal at Airport and Road division, which could partially allay investors concern over funding gap across the business verticals. Furthermore, land monetisation at MIAL and environmental clearance for Hancock would be the key catalysts for the stock. Maintain BUY purely on valuation and near term trigger… We highlight that unavailability of gas supply at its power plants as well as interest burden to fund additional stake in MIAL & BIAL will weigh on bottomline. However, in our view, PE deal in Airport & Road division holds the key for stock price performance, going ahead as this would partially allay investors concerns over funding gap across airport & transportation verticals. Furthermore, land monetisation at MIAL and environmental clearance for Hancock would be the key near term trigger for the stock. We maintain BUY purely on attractive valuation.
Friday, August 10, 2012
In a fresh blow to the IT major, a former employee of Infosys has filed a suit against the company in a California court over alleged misuse of B1 visas. (ET) The Supreme Court has issued notice to Indraprastha Gas on the plea of PNGRB over the fixation of the maximum retail price, network tariff and compression charges for the gas by the regulator. (ET) Punj Lloyd said it has bagged a Rs3.3bn order from Ministry of Petroleum and Natural Gas for process facilities & utilities at an upcoming crude oil storage cavern in Mangalore. (ET) Akzo Nobel India Ltd is setting up a new plant at Gwalior for decorative paints. The 60mn litres a year plant will cost Rs1.5bn. The company has also proposed to house a Rs500mn powder coatings manufacturing unit within the plant complex. (BL)
The Indian stock markets ended with minor losses after industrial production for the month of June unexpectedly shrank as against expectations of a marginal increase. The frontline Indian equity benchmarks had advanced modestly in the early minutes of trade, with the Sensex hitting 17,700 and the Nifty trading above the 5,350 mark. Both the main indices rose by ~0.5% each in opening deals. However, sluggish European markets and sustained selling pressure in index heavyweights such as SBI, Bharti Airtel, HDFC, Reliance Industries and Wipro dragged the benchmarks to day's low in late trade. The sentiment was hit by a weaker-than-expected IIP data for June and disappointing results from auto giant Tata Motors.
"There is no sudden leap into the stratosphere... There is only advancing step by step, slowly and tortuously, up the pyramid towards your goals..." There is more action on the streets as the playful side of Lord Krishna is celebrated on Janmashtami. Youngsters will form human pyramids to reach a high-hanging pot of butter and break it. For the government and policymakers they have many high-hanging pots to reach. IIP contracted by ~2% in June – increasing the headache for policymakers, who have been grappling with a slowing economy, sticky inflation, high borrowing costs, widening twin deficits and a global mess. But, the people in charge of monetary and fiscal policies are at loggerheads when it comes to taking action to revive growth. While the RBI blames loose fiscal policy for its reluctance to cut rates, the Government is banking on the central bank to blink first. The tug-of-war is not over yet and one doesn’t really know as to how it will end.
Indian markets were highly volatile in trade today and closed the session in the negative zone. The Sensex slipped 40 points and the Nifty fell 15 points after disappointment from poor IIP numbers. Major Headlines of the Day IIP for June at -1.8% vs 2.4% in May 2012 Car sales rise 6.7% in July Tata Motors Q1 cons net profit at Rs2245 cr Adani Enterprises dips after Q1 nos Bharti Airtel hits 52-week low
Key benchmark indices edged lower in choppy trade as a surprise decline in India' industrial production in June 2012 and lower-than expected growth in China's retail sales and industrial production in July 2012 hurt investor sentiment adversely. China is the world's second biggest economy after the US. The market breadth was negative. The barometer index, BSE Sensex, was down 39.69 points or 0.23%, up about 45 points from the day's low and off close to 140 points from the day's high. Most bank shares were in red. Tata Motors recovered in choppy trade after good Q1 results. Bharti Airtel extended Wednesday's losses triggered by weak Q1 results, with the stock hitting 52-week low. Bharti Airtel's weak Q1 results dragged other telecom stocks lower for the second straight day. The Sensex has gained 324.69 points or 1.88% in this month so far (till 9 August 2012). The Sensex has jumped 2,105.95 points or 13.62% in calendar 2012 so far (till 9 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2,425.01 points or 16.02%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 962.91 points or 5.19%.
Tuesday, August 07, 2012
Tata Teleservices has slipped on performance parameters it promised to Japan’s NTT DoCoMo, giving the foreign investor an option to either exit the business or increase its stake in the JV. (ET) Aurobindo Pharma and Glenmark said they have received approval from the US health regulator to manufacture and market generic montelukast sodium tablets used for treating asthma and allergies. (ET) Ranbaxy Laboratories may have forgone the launch of its generic version of blockbuster sleep disorder drug Provigil during a lucrative six-month marketing exclusivity period as part of its regulatory settlement with US authorities, say analysts who estimate that this might have cost the drugmaker US$50-100mn in revenues. (ET)
Indian stocks kicked off a new trading week with solid gains, with the NSE Nifty closing in on the 5,300 milestone. The BSE Sensex rose by over 200 points. The Nifty and the Sensex both advanced by ~1% each. However, the broader indices could not quite capitalise on the good early start and retreated from the day’s highs. The market breadth was still positive. Oil & Gas, Auto, Banking, Capital Goods and Realty sector indices paced the rally today while sectors such as IT and FMCG were the biggest laggards.
Science may have found a cure for most evils, but it has found no remedy for the worst of them all-the apathy of human beings. - Helen Keller. Finance Minister P. Chidambaram has promised corrective and remedial measures to revive confidence in the sputtering Indian economy. High on the FM’s agenda are fiscal discipline and clarity on controversial tax proposals. Does that mean hike in ‘regulated’ fuel prices? Does it mean dilution of GAAR and amicable settlement with Vodafone? There is a wide difference between rhetoric and action. Therefore, one will have to wait and see what FM & Co. can deliver in the coming weeks. Bear in mind that some of the Centre’s proposals have met with stiff political resistance.
The market may extend Monday's (6 August 2012) gains on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 6 points at the opening bell. Asian stocks advanced Tuesday, extending steep gains made in the previous session, amid fresh hope for European action to support the region's weaker economies. Among corporate news, DLF's consolidated net profit declined 18.29% to Rs 292.79 crore on 6.96% decline in total income to Rs 2328.85 crore in Q1 June 2012 over Q1 June 2011. GMR Infrastructure said that at the board meeting of the company scheduled to be held on August 09, 2012, the board will also consider raising of funds through issue of equity shares or convertible debentures or Foreign Currency Convertible Bonds or any other securities.
The Indian markets are set to begin trade on a positive note led by positive global cues. SGX Nifty is trading 8.50 points higher. Events for the day: Results: Aurobindo Pharma, NHPC, Tata Chemicals, United Breweries. Headlines for the day: RIL agrees to financial audit by CAG. Pipavav bags two international orders worth Rs1,192 crore. Construction industry outlook stable in H2, says Fitch. Court allows Telenor JV to seek interest for assets.
The Indian markets are set to begin trade on a positive note led by positive global cues. SGX Nifty is trading 8.50 points higher. Events for the day: Results: Aurobindo Pharma, NHPC, Tata Chemicals, United Breweries. Headlines for the day: RIL agrees to financial audit by CAG. Pipavav bags two international orders worth Rs1,192 crore. Construction industry outlook stable in H2, says Fitch. Court allows Telenor JV to seek interest for assets.
Key benchmark indices surged to scale their highest closing level in nearly four weeks, with investor sentiment boosted by data showing that foreign funds remained net buyers of Indian stocks on Friday, 3 August 2012. Comments from Union Finance Minister P Chidambaram that he intends to shortly unveil a path of fiscal consolidation aided gains on the domestic bourses. Strong US economic data released on Friday, 3 August 2012, and expectations that the European Central Bank will step in to buy euro-zone government bonds in time to address the long-running euro-zone debt crisis, also aided gains on the domestic bourses. US is the world's biggest economy. The barometer index, BSE Sensex, jumped 215.03 points or 1.25%, off close to 40 points from the day's high and up over 100 points from the day's low. The market breadth was positive.
Monday, August 06, 2012
Positive employment report take prices higher Copper prices jumped by the most in three weeks at Comex on Friday, 03 August 2012 after data showing U.S. employers hired more workers than expected last month deflated the dollar and boosted prices of the red metal. But an increase in the jobless rate to 8.3% reminded investors of the still-fragile state of the world's largest economy and kept prospects of further monetary stimulus from the Federal Reserve on the table. At London Metal Exchange (LME), three-month copper rose $115, or 1.6% to end at $7,445 a tonne on Friday.
Prices settle at the highest level in two weeks Crude oil got a major boost on Friday, 03 August 2012 at Nymex gaining nearly 5% after the better than expected employment data, positive performance in Europe while also benefitting from the dollar's decline. Crude-oil futures rallied nearly 5% Friday, spurred by optimism following a positive U.S. jobs report and as Wall Street traded sharply higher and the dollar lost some ground. Light and sweet crude for September delivery rose $4.27, or 4.9%, to settle at $91.40 a barrel on the New York Mercantile Exchange on Friday. The settlement was the highest in two weeks.
Lower dollar adds further glaze Bullion metal prices ended higher at Comex on Friday, 03 August 2012 snapping a three-day losing streak after U.S. employment data showed a rebound in hiring last month and as the dollar traded weaker. Gold for December delivery advanced $18.60, or 1.2%, to settle at $1,609.30 an ounce on the Comex division of the New York Mercantile Exchange. The metal declined 0.5% on the week, however.
The market may surge in early trade on strong Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 44 points at the opening bell. Asian stocks rose for the first time in four days on Monday after creditors said Greece is making progress on meeting bailout terms and U.S. payrolls climbed more than forecast. Among corporate news, DLF and Steel Authority of India unveil Q1 results today, 6 August 2012. Metal stocks will be in focus as LMEX, a gauge of six metals traded on the London Metal Exchange gained 1.64% on Friday, 3 August 2012. PSU OMCs, oil exploration firms and airline stocks will be in focus as US crude-oil futures for September delivery vaulted almost 5% to close above $91 a barrel on Friday after better-than-expected U.S. data fueled hopes that economic strengthening would lead to increased oil demand.
Sunday, August 05, 2012
The indices did manage to eke out around 2% gains after being on a weekly loss for a couple of weeks. Dark clouds would actually bring joy as the focus of the nation is on the deficient monsoon. If the rain gods fail to shower their blessings adequately, India could see its growth in the current fiscal falling to 6% according to the Planning Commission. Any positive signals from the Euro zone can provide comfort and support to the markets which remain on tenterhooks. Corporate results will continue to flow in bringing in the necessary action in those particular stocks. As far as key data points are concerned the IIP numbers would be keen awaited on Friday. Globally too various data points will provide some cues on the current state of affairs. The month of August is not really known for much gains or pains. At best we could remain in a tight range for sometime. In short, the coming week will continue to swing more to the global cues than any domestic affair.
The Indian markets surged this week after falling for three straight weeks as investors went on bargain hunting. The Sensex rose 2.13% and the Nifty gained 2.27% for the week ended August 03, 2012. Major Healines of the Week gone by: RBI leaves key rates unchanged June exports falls 5.45%, imports slips 13.46% Manufacturing PMI slumps to 8-month low RBI’s cut in SLR does not impress banks BSE to exclude 52 stocks from September 28
Key benchmark indices fell for the second straight day as a downward revision in 2012 monsoon forecast from the state-run India Meteorological Department (IMD) on Thursday, 2 August 2012, hurt investor sentiment adversely. Nevertheless, a rally in European stocks helped Indian stocks stage strong intraday rebound. The market breadth was negative. The barometer index, BSE Sensex, lost 26.43 points or 0.15%, up close to 170 points from the day's low and off close to 10 points from the day's high. Pharma stocks extended their recent uptrend, with Sun Pharmaceutical Industries hitting a record high. European stocks surged after European Central Bank (ECB) president Mario Draghi on Thursday, 2 August 2012, said the ECB may soon step in to buy government bonds in the open market, possibly in unlimited quantities, and will consider other unconventional measures to lower exceptionally high borrowing costs of financially stressed euro-zone economies.
The market rose on bargain hunting last week after declining in past three consecutive weeks. Data showing resumption of buying of Indian stocks by foreign funds underpinned sentiment. Key benchmark indices rose in three out of five trading sessions. The BSE Sensex rose 358.74 points or 2.13% to 17,197.93. The 50-unit S&P CNX Nifty rose 115.85 points or 2.27% to settle at 5,215.70. The BSE Mid-Cap index rose 3.14% and the BSE Small Cap index rose 2.96%. Both these indices outperformed the Sensex.
Thursday, August 02, 2012
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 11 points at the opening bell. Asian shares eased on Thursday as investors turned increasingly cautious as hopes of stimulus action by central banks thinned ahead of a European Central Bank's meeting later in the day and after the US Federal Reserve took no action a day earlier. State Bank of India (SBI) and the National Scheduled Tribe Finance and Development Corporation (NSTFDC) on Wednesday, 1 August 2012, signed a Refinance Agreement for channelizing concessional loans to the Scheduled Tribes. Ambuja Cements on Wednesday said its cement dispatches rose 1.25% to 16.97 lakh tones in July 2012 over July 2011. Cement production rose 1.13% to 16.87 lakh tones in July 2012 over July 2011.
Nirma Ltd’s proposed merger with Saurashtra Chemicals Ltd (SCL) has been given a go-ahead by the Competition Commission of India (CCI). (BL) DLF said that it is targeting to raise around Rs.30bn from sales of its 17.5 acre prime land in Mumbai and the deal is expected to close this quarter. (BL) Tulip Telecom Ltd has got a Rs.0.87bn order from the Unique Identification Authority of India (UIDAI) for hosting data centre space(BL) Uninor said that it will auction its business and assets in a bid to get maximum possible returns for its investors (BL)
It was the fourth straight trading session on Dalal-Street which saw the Indian equity markets end with gains. After no surprises from the Reserve Bank of India on Tuesday where the apex bank kept key interest rates unchanged, frontline Indian indices closed flat in a rangebound session today. Today’s modest gains were seen despite overnight losses in US markets and select Asian markets. Market did manage to gain ground in the mid afternoon trades. Profit booking in the Metals, Oil & Gas, Oil & Gas and select Telecom stocks kept those gains in check. The broader markets outperformed the benchmark indices as the Mid-Cap and the Small Cap stocks which were badly beaten down witnessed some bargain hunting. The BSE Mid-Cap index gained 1% while the BSE Small-Cap index rose 1.1%.
My brother, someone who I know I can always depend on! - Catherine Pulsifer The fatigued markets are searching for some positive cues they can depend on. Nothing seems to come by really expect a hope that some policy actions will be taken in the near future. Power outages and bomb blasts are leading the headlines these days. US indices closed lower after the Federal Reserve maintained status quo on its economic policies. Of course it was a day of yet another instance of algorithms going wild. The New York Stock Exchange said it is investigating trading activity in 140 stocks.
The Indian markets may open on a flat note led by mixed global peers. SGX Nifty is trading 6 points higher. Events for the day: Results: Cummins India, Glenmark Pharmaceuticals, Oracle Financial services Software. Headlines for the day: Muthoot Capital Services shares sale offer oversubscribed. SEBI imposes Rs 5-lakh fine on erstwhile Satyam officer. Jet fuel prices hiked by 4.5%. Piramal Healthcare changes name to Piramal Enterprises. SBI cuts auto loan rates by 0.5 percentage points.
Key benchmark indices eked out small gains after witnessing intraday volatility. The barometer index, BSE Sensex, rose 21.20 points or 0.12% up close to 68 points from the day's low and off about 35 points from the day's high. The Sensex and the 50-unit S&P CNX Nifty attained their highest closing level in almost 2-weeks. The market breadth was strong. Small-Cap and Mid-Cap indices on BSE outperformed the Sensex. Provisional data showing that foreign funds remained buyers of Indian stocks on Tuesday, 31 July 2012, underpinned sentiment. The Sensex has risen 617.56 points, or 3.71% in the past four trading sessions from a recent low of 16,639.82 on 26 July 2012. The Sensex has jumped 1802.46 points or 11.66% in calendar 2012 so far (till 1 August 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 2121.52 points or 14.02%. From a 52-week high of 18,523.78 on 22 February 2012, the Sensex has lost 1266.40 points or 6.84%.
Wednesday, August 01, 2012
hutdown of production at the Tata Motors’ car plant in Pune, the second time in six weeks, triggered by a general slowdown in sales of passenger cars has dampened spirits in the region. (BL) Titagarh Wagons Ltd has decided to restructure its various business segments, other than wagon manufacturing, into subsidiaries. (BL) Zydus Cadila said it has received the US health regulator’s approval to market aripiprazole orally disintegrating tablets, used in treating schizophrenia, in the American market. (BL)
The central bank in its first quarter monetary policy review on Tuesday, decided to keep key rates unchanged as it chose to control inflation over supporting growth. Soon after the announcement, the markets did slip a little but recovered to end tad up. The Nifty hit an intra-day low of 5154. The 30-stock BSE Sensex ended at 17,236, up 92 points or 0.5% from the previous close. It touched a day’s high of 17,253 and a day’s low of 17,004. It opened at 17,186.
Nearly all men can stand adversity, but if you want to test a man's character, give him power. - Abraham Lincoln There is a power shift in the Centre as far as ministries are concerned. P Chidambaram is back to where he always perhaps was - the finance ministry. While half of India went without power on Tuesday, there is no full-time Power Minister now as Sushil Kumar Shinde moves to ‘Home.’ Corporate affairs minister Veerappa Moily will have to shoulder additional charge of the power ministry. Reports indicate that a large scale restructuring in portfolio (government) may take place after the monsoon session in September. The stock market didn’t really run out of power. Nifty managed to regain its lost ground to close above 5200 levels. The 5165 level is a critical reversal point.
The start on the Dalal Street is going to be in the red zone led by negative global peers. SGX Nifty is also trading 8 points lower. Events for the day: Results: Adani Ports and Special Economic Zone, Adani Power, Century Textiles & Industries, Engineers India, Federal Bank, Glaxosmithkline Consumer Healthcare, Jaypee Infratech, Manappuram Finance, Voltas.
The market may open slightly lower on mostly lower Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 4.50 points at the opening bell. Asian stocks fell on Wednesday as China's manufacturing expanded at the slowest pace in eight months and South Korea's exports fell. The government on Tuesday, 31 July 2012, announced a key cabinet reshuffle with Home Minister P. Chidambaram named as the new Finance Minister. Power minister Sushilkumar Shinde was named as the new Home Minister. The post of the Finance Minister was left empty after Pranab Mukherjee resigned from the post ahead of the Presidential election. This is the third time that Chidambaram is holding the Finance Ministry portfolio. Minister of Corporate Affairs M. Veerappa Moily has been assigned the additional charge of the Ministry of Power.