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Thursday, March 29, 2012

MT Educare, NBCC Grey Market Premiums

Company Name
Offer Price
(Rs. 1 Lac
(Rs. 2 Lac
(Rs. 5 Lac
-12 to -15 (Seller)
3 to 3.50
MT Educare Ltd
74 to 80
5 to 6

Daily News Roundup - March 29 2012

RIL has reorganized its finance operations under two chief financial officers for the first time. V Srikanth, who joined as deputy CFO in August 2010, has been elevated as CFO, placing him on an equal footing with the incumbent Alok Agarwal. (ET) Kingfisher Airlines appointed Manmohan Singh Kapur, Lalit Bhasin and Shrikant Ruparel as independent directors to fill in the vacancies caused by high-profile exits that coincided with the fast unfolding financial crisis in the airline. (ET) Danish telecom operator TDC said it had entered a deal with TCS to replace CSC as its IT services provider. The contract will run for four years with a two-year extension option. (ET)

Nifty falters ahead of F&O expiry...Ends below 5200

The Indian stock markets weakened ahead of the F&O expiry on Thursday, as market players remained wary of near-term prospects amid a spate of headwinds. The undercurrent continues to be jittery over the impact of the proposed GAAR tax regulations on FII investments through Mauritius and via Participatory Notes (PNs). Barring a brief period in the morning session, the indices were under pressure almost throughout the session. As usual, the selling accelerated in the afternoon, with the benchmarks hitting new lows before recovering by the close of trade. 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. The BSE Sensex ended at 17,122, down 135 points or ~0.8% over the previous close. It had earlier touched a day’s low of 17,040 and a day’s high of 17,245. It opened at 17,234. The NSE Nifty settled at 5,194, down 48 points or 1% over the previous close. It earlier touched a day’s low of 5,170 and day’s high of 5,236.

Pressure prevails

"Force, violence, pressure, or compulsion with a view to conformity, are both uncivilized and undemocratic". - Mahatma Gandhi. There is no dearth of pressure at the moment as far as Indian markets are concerned. Be it the stocks, bonds or the rupee. All assets are under pressure. The macro-economic scenario is not looking rosy. Inflation is likely to stay elevated even as uncertainty continues over the RBI’s call on interest rates. The Government’s borrowing calendar for H1 FY13 has sent benchmark 10-year bond yields to three-month high amid lingering worries over high fiscal deficit. The rupee is also on sticky wicket amid rising twin deficits and falling forex reserves. The confusion over GAAR tax norms and P-Notes has only dimmed the near-term prospects for our markets. Usual intraday gyrations are a given on F&O expiry day. The overall bias is likely to be negative. The opening will be down owing to weak global cues. US stocks dropped following a lower-than-expected report on durable goods orders. Asian markets are mostly in the red. European indices also finished lower ahead of yet another EU summit. Euro area members are likely to boost the financial firewall to rein in the credit crisis. The NSE Nifty managed to close above the crucial support of 200 DMA, which is currently placed at 5153 levels. The rising support line was violated on intraday basis but with the closing above 5180 levels the trendline support remains intact. The positive reaction for the Nifty would be reaffirmed with a move above 5230 levels. Till then, the critical trading range will be 5150-5230. Trend in FII flows: The FIIs were net sellers of Rs 1.48bn in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net buyers of Rs 730.3mn, as per the provisional figures released by the NSE. The FIIs were net buyers of Rs 3.92bn in the F&O segment on Wednesday, according to the provisional NSE data. The foreign funds were net buyers at Rs 789mn in the cash segment on Tuesday, according to the SEBI figures. Mutual Funds were also net sellers of Rs 1.52bn on the same day. Global Data Watch today: Eurozone industrial confidence, UK Nationwide housing prices, Germany unemployment rate, Fed's Fisher speech, UK index of services, UK money supply, US GDP data, Us weekly jobless claims, Fed's Lockhart speech and Fed chairman Bernanke's speech.

Markets may continue negative trend; eyes on F&O expiry

The Indian markets are expected to open on a negative note due to negative global cues. Headlines for the day: L&T upbeat on nuclear power plant component exports SBI may get Rs 7,900cr govt infusion on Thursday Vijay Mallya may sell United Breweries stake to save Kingfisher Airlines Sun Pharma recalls 1,55,000 eye solution bottles ACC to invest Rs 3,330 cr on expansion plan by 2015

Market seen subdued at start on weak Asian equities

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a slide of 51.50 points at the opening bell. Asian markets were trading weak on Thursday, 29 March 2012. The market may remain volatile today, 29 March 2012, as traders roll over positions from the near-month March 2012 series to April 2012 series due to the expiry of March 2012 derivatives contracts. ONGC may be in demand on reports the Petroleum and Natural Gas Ministry on Wednesday, 28 March 2012 signed production sharing contracts (PSCs) for the newly awarded 16 oil and gas blocks under the ninth round of new exploration licensing policy (NELP) with the state-run oil exploration giant emerging as the biggest winner with six blocks. However, ONGC saw its bids being rejected for eight blocks including give deep sea for various reasons. Coal India will be in focus as the company's board will meet again today, 29 March 2012 to approve the new draft fuel supply agreement.

SGX Nifty Live Update - March 29 2012

5201.50 -53.75 (-1.02%)

BSE Bulk Deals to Watch - March 28 2012

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 28/3/2012 512161 8K Miles Software NISHIL SURENDRABHAI MARFATIA B 120000 54.35 28/3/2012 512161 8K Miles Software PANKAJ NARAYANDAS PATEL S 121653 54.36 28/3/2012 520123 ABC India-$ LENSECO S 34405 121.39 28/3/2012 503675 Agarwal Hold RAJ KUMAR ARORA B 45965 205.23 28/3/2012 524448 Ahlcon Par RAJASTHAN GLOBAL SECURITIES LTD B 81678 419.40 28/3/2012 524448 Ahlcon Par SRIHARI BABU KANCHERLA S 54500 419.09 28/3/2012 524448 Ahlcon Par SUJATHA KANCHERLA S 50225 419.65 28/3/2012 524075 Albert David-$ LOK PRAKASHAN LIMITED B 49931 82.25 28/3/2012 524075 Albert David-$ RAVIRAJ DEVELOPERS LIMITED S 50050 82.25 28/3/2012 531560 Aroma Enterprises SHREE MALLIKARJUN TRAD INVEST PRIVATE LIMITED B 160000 10.81 28/3/2012 531560 Aroma Enterprises PARULBEN DEVJIBHAI PATEL S 46200 10.81 28/3/2012 531560 Aroma Enterprises VICKY RAJESH JHAVERI S 55400 10.81

NSE Bulk Deals to Watch - March 29 2012

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 28-MAR-2012,AKSHOPTFBR,Aksh Optifibre Limited,D K JAIN.,BUY,956512,14.38,- 28-MAR-2012,APOLLOHOSP,Apollo Hospitals Ltd,PCR INVESTMENTS LIMITED,BUY,1238000,628.35,- 28-MAR-2012,DOLPHINOFF,Dolphin Offshore Enterpri,RUCHIT B. PATEL,BUY,195027,78.55,- 28-MAR-2012,EMMBI,Emmbi Polyarns Ltd,SWEDISH PORTFOLIO PRIVATE LIMITED,BUY,108175,13.10,- 28-MAR-2012,GDL,Gateway Distriparks Limit,INDEA ABSOLUTE RETURN FUND,BUY,562016,148.00,- 28-MAR-2012,HARRMALAYA,Harrisons Malayalam Ltd,RPG CELLULAR INVESTMENTS & HOLDINGS P LTD,BUY,348570,67.39,- 28-MAR-2012,INDIANHUME,Indian Hume Pipe Co. Ltd,Bharat Patel,BUY,650000,124.03,- 28-MAR-2012,INVENTURE,Inventure Gro & Sec Ltd,NITIN BABAJI PALANDE,BUY,102892,279.13,-

Sensex ends 136 points lower on profit booking

Profit booking was the main reason behind today’s fall as the markets had rallied quite sharply yesterday. The Sensex fell 136 points and the Nifty slid 48 points. Major Headlines UBL gains on stake sale report Oil Min seeks Rs400 bln extra cash compensation from FM FM hints roll back of excise duty on unbranded jewellery Govt should consider diesel decontrol: Rangarajan

United Spirits leads gainers in 'A' group

India Securities, Muthoot Finance, Manappuram Finance and Union Bank of India are among the other gainers. Liquor maker United Spirits rose 4.89% to Rs 586.45. The stock topped the gainers in the BSE's 'A' group. Some media reports today, 28 March 2012, suggested that Heineken may acquire controlling stake in United Breweries (UBL). According to reports, Heineken currently holds 37.5% stake in UBL. UB Group Chairman Vijay Mallya may reportedly sell between 12-13% stake held in UBL, which will allow Heineken' stake to reach 50%. As on 31 December 2011, United Spirit held 3.22% stake in UBL. India Securities rose 3.36% to Rs 58.45. The stock was second biggest gainer in 'A' group. Gold financing firm Muthoot Finance rose 2.97% to Rs 131.80. The stock was third biggest gainer in 'A' group. Shares of gold financing firms, Muthoot Finance and Manappuram Finance, jumped on bargain hunting after a recent steep slide triggered by the central bank tightening gold loan norms for non-banking financial companies.

Market slides on negative global cues; breadth weak

Key benchmark indices edged lower as weak global stocks weighed on sentiment. The 50-unit S&P CNX Nifty trimmed losses after hitting 8-week low in late trade. The market breadth was weak. The barometer index, BSE Sensex, lost 135.74 points or 0.79%, up about 80 points from the day's low and off close to 120 points from the day's high. Index heavyweight Reliance Industries (RIL) edged lower in volatile trade. Cigarette maker ITC hit record high. The barometer index, BSE Sensex, has fallen 631.06 points or 3.55% in March 2012 so far (till 28 March 2012). The index has surged 1,666.70 points or 10.78% in calendar 2012 so far. From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,985.76 points or 13.11%. From a 52-week high of 19,811.14 on 6 April 2011, the Sensex has lost 2,689.52 points or 13.57%. Coming back to today's trade, Tata Steel rose after the company reportedly raised the borrowing limit to Rs 50000 crore. Software pivotals were mixed. Power generation major NTPC extended Tuesday's fall. Engineering & construction major Larsen & Toubro (L&T) reversed Tuesday's gains. Interest rate sensitive banking stocks declined on fears banks' bad loans could increase in a slowing economy. State Bank of India dropped after the bank raised fixed deposit rates on select maturities by up to 1% amid tight liquidity situation.