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Wednesday, March 28, 2012

Grey Market Premiums - NBCC, MT Educare

Company Name
Offer Price
(Rs. 1 Lac
(Rs. 2 Lac
(Rs. 5 Lac
1 to 1.50 (Seller)
Olympic Cards Ltd.
30 (Flore Price)
-1 to -1.50
90 to 106
3 to 3.50
MT Educare Ltd
74 to 80
5 to 5.50

Daily News Roundup - March 28 2012

L&T Finance has agreed to buy Fidelity’s Indian funds, becoming the tenth-biggest equity fund house in a highly fragmented and competitive market marked by wafer-thin profitability. (ET) SBI has raised interest rates on short-term deposits by a percentage point. It would offer 8% on deposits of various maturities below one year, a structure that could nullify the high rates private banks offer. (ET) Debt-laden Kingfisher Airlines has shut 28 of its 56 destinations to which it operated flights over the past two days making at least 40-50% of its staff redundant. (ET) Maruti is planning to cut car production at its Gurgaon plant and has no intentions of completely shifting vehicle production out of the city in the immediate future. (ET) The Directorate General of Hydrocarbons has rejected Reliance Industries argument that geological complexities were preventing the company from drilling more wells to reverse the sharp fall in gas output from the D6 block. (ET)

Sensex spurts on GAAR relief...But anxiety prevails

The main Indian stock indices ended with handsome gains on Tuesday, almost managing to reverse the previous day’s losses. The sentiment in the Indian market perked up in the afternoon trades after a Finance Ministry official was quoted as saying that the Government will not target Participatory Notes (PNs) across the board under the new GAAR regulations. Monday’s sharp fall had come amid fears that FIIs from Mauritius and investments made through PNs will be taxed from April 1 when the proposed GAAR comes into effect. PNs will be taxed under GAAR if they fail in one out of four tests, according to reports. The tests include Lack of Commercial Purpose test, Bonafide Purpose test, Misuse & Abuse test and Abnormality test.

Taxing times

"There is no such thing as a good tax." - Winston Churchill. Reported clarifications on GAAR tax regulations and soothing words from the FM on the vexed issue may have calmed some frayed nerves. However, the uncertainties do not end here. As a result, the market is unlikely to heave a sigh of relief until the matter is settled. The sudden drop in FII inflows in the past couple of sessions is testimony of escalating tension on the GAAR issue. We expect a lower opening as global markets have taken a breather after rallying on Ben Bernanke’s dovish remarks. US stocks fell on mixed economic reports. European indices too finished lower. Stock benchmarks in Japan and China are pacing a decline in Asia this morning.

Agent Vinod opening week collection Rs49 crore worldwide

Eros International Media a leading global company in the Indian film entertainment industry has announced a successful opening of Rs49 crore gross worldwide for Saif All Khan’s latest release Agent Vinod. The film has grossed over Rs41.5 crore in India and Rs7.65 crore overseas. The film co-produced in association with illuminati films, released across 2500 screens worldwide on 23 March, 2012. Speaking on the film’s performance, Nandu Ahu, Sr. VP, India Theatrical, Eros International Media Ltd said, With Agent Vinod, Bollywood’s espionage genre comes of age and Shriram Raghavan has once again captured the audiences’ imagination with the edgy fast paced thriller coupled with some never before seen stylish action sequences”. Pranab Kapadia, President — Marketing & Distribution - Eros International plc added, “Audiences worldwide have appreciated Shriram Raghavan’s spy thriller along with Saif All Khan’s slick stylish spy avatar”. One of the highly awaited films of this year, Agent Vinod has an ensemble star cast of Saif All Khan, Kareena Kapoor, Prem Chopra, Gulshan Grover, Shahbaaz Khan, debutante Maryam Zakaria along with cameo appearances by Ravi Kishen, Ram Kapoor and music by Pritam. At 9.35 am, Eros International Media was trading at Rs185.75, down by 2.06%, with a volume of 6853 shares on the BSE.

Market seen opening lower on weak Asian equities

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 17 points at the opening bell. Asian markets edged lower on Wednesday, 28 March 2012, as investors waited for more clues on the state of the US economy. State Bank of India (SBI) has raised fixed deposit rates on select maturities by up to 1% with effect from Wednesday, 27 March 2012, amid tight liquidity situation. Fixed deposits with maturity period of 7-90 days will earn 8% interest against existing 7%. Interest rates on 91-179 day and 181-240 day period fixed deposits have been raised by 0.75% and 1%, respectively. The rate of interest will be 8% now. Interest rate on 241-day to one-year deposits has been raised by 0.25% to 8%. The announcement was made after market hours on Tuesday, 27 March 2012. GAIL (India) on Tuesday said it has set gas transmission target of 121.55 MMSCMD and gas marketing target of 85.75 MMSCMD from domestic sources and through LNG route for the year ending March 2013 (FY 2013) under the annual memorandum of understanding (MoU) signed with the Ministry of Petroleum and Natural Gas. The MoU provides for production target of 430 TMT of polymers (HDPE & LLDPE) and 1,370 TMT of liquid hydrocarbons, GAIL (India) said. The financial targets are set at Rs 43430 crore of gross sales and gross margin of Rs 6287 crore, the company said. The announcement was made after market hours on Tuesday, 27 March 2012.

BSE Bulk Deals to Watch - March 27 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 27/3/2012 512161 8K Miles Software NIRAJ NAGINDAS SHAH S 30000 56.10 27/3/2012 530027 Aadi Inds DEELIP DHARAMCHAND BOTHARA B 75000 5.20 27/3/2012 530027 Aadi Inds SONAL SUNILKUMAR KOTECHA S 75000 5.20 27/3/2012 503675 Agarwal Hold PRAVEEN KUMAR ARORA B 50000 205.68 27/3/2012 530621 Akar Tools SANJAY KOTHARI B 135000 29.06 27/3/2012 530621 Akar Tools ANANTROOP TRADING PVT LTD S 135000 29.06 27/3/2012 532351 Aksh Optifibre ASP INVESTMENT CONSULTANTS PVT LTD B 894374 13.55 27/3/2012 532351 Aksh Optifibre RAJESH M SHAH HUF S 858814 13.55 27/3/2012 531720 Alpha Graphic AVENUE DEALESRS PVT.LTD. B 176600 25.93 27/3/2012 521131 Anjani Dham Inds NISHIL SURENDRABHAI MARFATIA B 48883 14.88 27/3/2012 531448 ARROW SECURI KIRITKUMAR SHAH B 65000 8.22 27/3/2012 531448 ARROW SECURI VISHAL VINODRAY MISTRY S 37990 8.22 27/3/2012 531568 Ashutosh Paper PNR Systems Private Limited B 42000 23.65 27/3/2012 531568 Ashutosh Paper HSI INFOTECH PRIVATE LIMITED B 75000 23.65

NSE Bulk Deals to Watch - March 27 2012

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 27-MAR-2012,AKSHOPTFBR,Aksh Optifibre Limited,MAHALAXMI CRESEC PRIVATE LIMITED,BUY,860000,13.50,- 27-MAR-2012,CEBBCO,Commercial Eng & Co. Ltd,KETAN DESAI,BUY,1000000,60.00,- 27-MAR-2012,FAME,Fame India Limited,GUJARAT FLUORO CHEMICALS LTD,BUY,291500,72.84,- 27-MAR-2012,FLEXITUFF,Flexituff Inter Limited,RAGHUKUL SHARES INDIA PRIVATE LIMITED,BUY,129000,255.31,- 27-MAR-2012,HARRMALAYA,Harrisons Malayalam Ltd,RPG CELLULAR INVESTMENTS & HOLDINGS P LTD,BUY,350000,67.50,- 27-MAR-2012,HDIL,Housing Development and I,GENUINE STOCK BROKERS PVT LTD,BUY,2269554,88.79,- 27-MAR-2012,HYDRBADIND,Hyderabad Industries Ltd,Bharat Patel,BUY,74951,291.50,-

NBCC Final Subscription Figures

Qualified Institutional Buyers (QIBs) 7.07 Non Institutional Investors 1.70 Retail Individual Investors (RIIs) 3.40

Heavyweights lift Sensex 205 points higher post yesterday's mayhem

Indian markets showed strength in today's trading session after a drastic fall yesterday, with the Sensex closing 205 points higher and the nifty rising by 59 points. Major Headlines TRAI says no refund for cancelled licences Nalco rises on stake sale Satyam Australian unit plans buyout

Sensex provisionally up 1.33%; ITC scales record high

Key benchmark indices surged in choppy trade after television reports said the government will not target participatory notes in a blanket manner under its newly proposed rules targeting tax avoidance. The barometer index, BSE Sensex, was provisionally up 227.28 points or 1.33%, up 218.90 points from the day's low and off 86.78 points from the day's high. The market breadth was negative. Index heavyweight Reliance Industries (RIL) logged small gains in volatile trade. Cigarette maker ITC scaled a record high. Software pivotals rose after the US Federal Reserve Chairman Ben Bernanke on Monday, 26 March 2012, said easy monetary policy would remain in place for some time even though the US economy has shown signs of improvement. Banking pivotals edged higher in volatile trade. Cairn India rose as crude price rose. Maruti Suzuki India declined after the Maharashtra state government increased the tax on petrol and diesel cars sold in state in the budget for 2012-13 tabled in the Maharashtra assembly on Monday by state finance minister and deputy chief minister Ajit Pawar. TV reports citing unnamed finance ministry officials said that the finance ministry will not be chasing after P-notes, or derivative products that allow foreign investors to invest anonymously into Indian equities, as part of its recently proposed General Anti-Avoidance Rule (GAAR) which come into effect from 1 April 2012. Participatory Notes or P-Notes are instruments issued by registered foreign institutional investors to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India (Sebi). Only participatory notes which fail certain regulatory tests may be subject to taxation, the reports said.