NIFTY-TECHNICAL OUTLOOK
Today the markets are likely to open with positive note on the back of positive global cues. All Emerging markets are trading in green. The coming session is likely to witness a range of 4330 on declines and 4500 on advances.
WORLD MARKET COMMENTARY
Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) were in green. Dow gained by 1.08% and closed at 8529; S&P 500 rose by 0.91% and closed at 927. European indices too ended in green with in FTSE up by 1.25%, DAX up by 2.27% & CAC 40 up by 2.04% Today major stock markets in Asia are trading in positive. The Shanghai Composite is trading up by 0.01% at 2975; Hang Seng is up by 1.59% at 18823. However Japan’s Nikkei is up by 1.89% at 9968 and Singapore’s Straits Times is up by 1.37% at 2349.
Singapore Nifty future is currently is up by 37.0 point at 4426.
Tuesday, June 30, 2009
News Capsules
•Mukesh Ambani’s Reliance Retail has put in bids to acquire two of Henkel India’s soap brands, a sign of the big ambitions it has in the fast-moving consumer goods (FMCG) business. Any deal for the male deodorant soap Aramusk and Moloy sandalwood soap, put up for sale late last year, is estimated to be worth about Rs 10 crore. The Henkel brands are unlikely to generate significant revenues at the national level, but they are attractive buys locally, especially in the eastern part of the country.
• Anil Ambani group firms — Reliance Communications (RCom) and Reliance Power —restructured their respective promoter holdings through transfer of shares among group companies. RCom said one of its promoters AAA Communication has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries and ADA Enterprises and Venture.
• Britannia Industries, is set to stage a comeback into the packaged milk business, four years after it exited this segment. The company, which closed last fiscal with a top line of close to Rs 3,500 crore, is expected to play in the ready-to-drink flavoured milk market targeted at youth, instead of the mass packaged milk segment. Britannia declined to comment in this regard. Industry estimates indicate this market is valued at close to Rs 750 crore. Amul, the Gujarat-based milk cooperative, is the largest player, with around 70 per cent market share.
• Wockhardt, which has close to Rs 3,400 crore in debt, today said that the corporate debt restructuring (CDR) process in the company is likely to be over in the next four to six weeks.
• Even as fears of Maytas Infra Limited losing the Hyderabad metro rail project are looming large, banks have reportedly asked the company to comply with certain conditions to secure the corporate debt restructuring (CDR) package.
• S Kumars is set to acquire Hartmarx, the American clothing company and the suit makers of President Barack Obama, for $119 million. Hartmarx, the men's largest formal wear clothing company in the US, had recently announced that 50 of its wholly-owned US subsidiaries had filed for protection under the local bankruptcy code.
• In a move aimed at stemming declining losses and generating funds for Indian operations, Chennai-based entertainment company Pyramid Saimira Theatre Ltd (PSTL) has put its businesses and assets in the US and Malaysia up for sale.
• Apollo Hospitals Enterprise Ltd has finalised financial closure for their Rs 1,500 crore expansion plan, to add 2,000 beds. Of the Rs 1,500 crore plan, Rs 500 crore has already been invested in 2008-09 to acquire lands and for adding 200 beds (to make a total of 7,450). In 2009-10, the group will add another 844 beds. The remaining part of the plan would be done by 2010-11.
• Anil Ambani group firms — Reliance Communications (RCom) and Reliance Power —restructured their respective promoter holdings through transfer of shares among group companies. RCom said one of its promoters AAA Communication has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries and ADA Enterprises and Venture.
• Britannia Industries, is set to stage a comeback into the packaged milk business, four years after it exited this segment. The company, which closed last fiscal with a top line of close to Rs 3,500 crore, is expected to play in the ready-to-drink flavoured milk market targeted at youth, instead of the mass packaged milk segment. Britannia declined to comment in this regard. Industry estimates indicate this market is valued at close to Rs 750 crore. Amul, the Gujarat-based milk cooperative, is the largest player, with around 70 per cent market share.
• Wockhardt, which has close to Rs 3,400 crore in debt, today said that the corporate debt restructuring (CDR) process in the company is likely to be over in the next four to six weeks.
• Even as fears of Maytas Infra Limited losing the Hyderabad metro rail project are looming large, banks have reportedly asked the company to comply with certain conditions to secure the corporate debt restructuring (CDR) package.
• S Kumars is set to acquire Hartmarx, the American clothing company and the suit makers of President Barack Obama, for $119 million. Hartmarx, the men's largest formal wear clothing company in the US, had recently announced that 50 of its wholly-owned US subsidiaries had filed for protection under the local bankruptcy code.
• In a move aimed at stemming declining losses and generating funds for Indian operations, Chennai-based entertainment company Pyramid Saimira Theatre Ltd (PSTL) has put its businesses and assets in the US and Malaysia up for sale.
• Apollo Hospitals Enterprise Ltd has finalised financial closure for their Rs 1,500 crore expansion plan, to add 2,000 beds. Of the Rs 1,500 crore plan, Rs 500 crore has already been invested in 2008-09 to acquire lands and for adding 200 beds (to make a total of 7,450). In 2009-10, the group will add another 844 beds. The remaining part of the plan would be done by 2010-11.
Equity Morning Mantra
MARKET OUTLOOK
The market may open in green tracking positive global markets. Asian stocks rose, extending the regional benchmark index’s record quarterly gain, as higher commodities prices and a weaker yen lifted the earnings outlook for producers of resources and electronics. U.S. stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.
According to provisional data on NSE, foreign funds bought worth a net Rs. 292.44 crore on Monday, 29 June 2009. Domestic funds bought shares worth a net Rs.143.84 crore on that day.
The market may open in green tracking positive global markets. Asian stocks rose, extending the regional benchmark index’s record quarterly gain, as higher commodities prices and a weaker yen lifted the earnings outlook for producers of resources and electronics. U.S. stocks rose on Monday as higher oil prices lifted shares of energy companies and fund managers snapped up this quarter's winners to burnish their portfolios.
According to provisional data on NSE, foreign funds bought worth a net Rs. 292.44 crore on Monday, 29 June 2009. Domestic funds bought shares worth a net Rs.143.84 crore on that day.
Monday, June 29, 2009
Derivative Outlook
NIFTY-TECHNICAL OUTLOOK
Today the markets are likely to open with flat note on the back of mixed global cues. All Emerging markets are trading in flat.The coming session is likely to witness a range of 4270 on declines and 4450 on advances.
WORLD MARKET COMMENTARY
Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) were flat. Dow lost by 0.40% and closed at 8438.39; S&P 500 lost by 0.15% and closed at 919. European indices too ended in red with in FTSE down by 0.27%, DAX down by 0.50% & CAC 40 down by 1.05% Today major stock markets in Asia are trading in mixed. The Shanghai Composite is trading up by 0.44% at 2941; Hang Seng is down by 0.45% at 18517. However Japan’s Nikkei is up by 0.39% at 9916 and Singapore’s Straits Times is down by 0.10% at 2316.
Singapore Nifty future is currently is up by 6.0 point at 4390
Today the markets are likely to open with flat note on the back of mixed global cues. All Emerging markets are trading in flat.The coming session is likely to witness a range of 4270 on declines and 4450 on advances.
WORLD MARKET COMMENTARY
Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) were flat. Dow lost by 0.40% and closed at 8438.39; S&P 500 lost by 0.15% and closed at 919. European indices too ended in red with in FTSE down by 0.27%, DAX down by 0.50% & CAC 40 down by 1.05% Today major stock markets in Asia are trading in mixed. The Shanghai Composite is trading up by 0.44% at 2941; Hang Seng is down by 0.45% at 18517. However Japan’s Nikkei is up by 0.39% at 9916 and Singapore’s Straits Times is down by 0.10% at 2316.
Singapore Nifty future is currently is up by 6.0 point at 4390
NEWS CAPSULES
• Suzlon Energy, among the top five wind turbine manufacturers in the world, posted a net profit of Rs 314.9 crore for the fourth quarter ended March 31 on a consolidated basis, 32 per cent lower than the Rs 464.8 crore in the corresponding quarter of the previous year. The losses are mainly on account of foreign exchange loss of over Rs 300 crore, a blade retrofit programme costing Rs 103 crore and mark-to-market losses on foreign exchange transactions worth Rs139 crore.
• Allahabad Bank decided to slash its benchmark prime lending rate by 25 basis points from July 1.
• Wockhardt and Biocon have come under the drug price regulator National Pharmaceutical Pricing Authority (NPPA) scanner for allegedly violating pricing norms. NPPA has initiated an investigation against two insulin analogue brands, Wockhardt’s Glaritus and Biocon’s Basalog, for selling the medicine without a price approval.
• Havells India reported a 25 per cent rise in its profit after tax at Rs 49 crore for the fourth quarter ended March 31, 2009. The company had a profit after tax of Rs 39 crore during the March quarter a year earlier.
• Matrix Laboratories Limited recorded a net profit of Rs 29.99 crore for the financial year 2008-09 as against a net loss of Rs 456.93 crore the previous year. Net income for the fiscal stood at Rs 2,273.85 crore as compared with Rs 1,728.07 crore in the previous year, up 31.58 per cent. In 2008-09, Matrix made a one-time provision of Rs 487.12 crore for 'impairment of goodwill.
• Essar Steel Hypermart, India’s largest chain of steel retail outlets, has opened its first outlet in Orissa in the steel city of Rourkela, in line with Essar Steel’s philosophy of making customised steel products available to end users in geographies that have high steel consumption.
• Allahabad Bank decided to slash its benchmark prime lending rate by 25 basis points from July 1.
• Wockhardt and Biocon have come under the drug price regulator National Pharmaceutical Pricing Authority (NPPA) scanner for allegedly violating pricing norms. NPPA has initiated an investigation against two insulin analogue brands, Wockhardt’s Glaritus and Biocon’s Basalog, for selling the medicine without a price approval.
• Havells India reported a 25 per cent rise in its profit after tax at Rs 49 crore for the fourth quarter ended March 31, 2009. The company had a profit after tax of Rs 39 crore during the March quarter a year earlier.
• Matrix Laboratories Limited recorded a net profit of Rs 29.99 crore for the financial year 2008-09 as against a net loss of Rs 456.93 crore the previous year. Net income for the fiscal stood at Rs 2,273.85 crore as compared with Rs 1,728.07 crore in the previous year, up 31.58 per cent. In 2008-09, Matrix made a one-time provision of Rs 487.12 crore for 'impairment of goodwill.
• Essar Steel Hypermart, India’s largest chain of steel retail outlets, has opened its first outlet in Orissa in the steel city of Rourkela, in line with Essar Steel’s philosophy of making customised steel products available to end users in geographies that have high steel consumption.
Morning Mantra
The market is seen opening on a buoyant note tracking positive global cues. Most Asian stocks climbed after an increase in Japanese industrial production and higher demand at LG Display Co. lifted optimism the recession is easing. Daiwa Securities Group Inc. slumped after selling new shares. US markets ended mixed on Friday.
According to provisional data on NSE, foreign funds bought worth a net Rs. 551.14 crore on Friday, 26 June 2009. Domestic funds bought shares worth a net Rs. 333.95 crore on that day.
According to provisional data on NSE, foreign funds bought worth a net Rs. 551.14 crore on Friday, 26 June 2009. Domestic funds bought shares worth a net Rs. 333.95 crore on that day.
Friday, June 26, 2009
Derivatives Research
NIFTY-TECHNICAL OUTLOOK:
Today the markets are likely to open with positive note on the back of positive global cues. All Emerging markets are trading in green.
The coming session is likely to witness a range of 4150 on declines and 4330 on advances.
WORLD MARKET COMMENTARY:
Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) were in green. Dow gained by 2.08% and closed at 8472; S&P 500 gained by 2.14% and closed at 920. European indices too ended in red with in FTSE down by 0.64%, DAX down by 0.73% & CAC 40 down by 0.68% Today major stock markets in Asia are trading in mixed. The Shanghai Composite is trading down by 0.07% at 2923; Hang Seng is up by 0.61% at 18387. However Japan’s Nikkei is up by 0.24% at 9819 and Singapore’s Straits Times is up by 0.83% at 2322. Singapore Nifty future is currently is up by 12.0 point at 4290.0.
Today the markets are likely to open with positive note on the back of positive global cues. All Emerging markets are trading in green.
The coming session is likely to witness a range of 4150 on declines and 4330 on advances.
WORLD MARKET COMMENTARY:
Yesterday all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) were in green. Dow gained by 2.08% and closed at 8472; S&P 500 gained by 2.14% and closed at 920. European indices too ended in red with in FTSE down by 0.64%, DAX down by 0.73% & CAC 40 down by 0.68% Today major stock markets in Asia are trading in mixed. The Shanghai Composite is trading down by 0.07% at 2923; Hang Seng is up by 0.61% at 18387. However Japan’s Nikkei is up by 0.24% at 9819 and Singapore’s Straits Times is up by 0.83% at 2322. Singapore Nifty future is currently is up by 12.0 point at 4290.0.
News Capsules
• Driven by higher prices of food items like pulses, cereals, milk, and fruit and vegetables, inflation rose marginally to minus 1.14 per cent against 1.61 per cent in the previous week.
• Anil Ambani Group company Reliance Natural Resources (RNRL) is understood to have written another letter to Reliance Industries (RIL) to find a way for an agreement for gas supply by the latter. This is the second letter in as many days RNRL is shooting off to Mukesh Ambani-led RIL.
However, no comments could be obtained either from RIL or RNRL.
• Three weeks after celebrating his 55th birthday, Infosys co-founder Nandan Nilekani will step down from the board of Infosys Technologies, of which he is co-chairman, on July 9 to take over as chairman of the Unique Identification Authority of India (UIDAI), the government’s ambitious project to provide every citizen with a unique biometric identity card.
• ONGC Videsh Ltd (OVL) and its partners Indian Oil Corporation (IOC)and Oil India Ltd (OIL) have proposed an investment of about $5 billion in bringing to production a massive gas field they discovered in offshore Iran, in the next 3-4 years.
• GAIL India said it will invest over Rs 7,500 crore in laying natural gas transportation pipelines from Dabhol on Maharashtra coast to Bengaluru and Kochi to Mangalore.
• The department of revenue in the finance ministry has raised objections to an application by United Breweries (Holdings) Ltd (UBHL) seeking approval for raising Rs 708 crore by issuing fully convertible equity warrants to FirStart Inc, a company owned by UB group promoter Vijay Mallya’s mother, Lalitha, and headquartered in the British Virgin Islands.
• Areva T&D India, an arm of French power equipment maker Areva, today said it has bagged an order worth about Rs 1,200 crore from domestic steel major Jindal Steel & Power Ltd (JSPL) for a power project.
• Tata Power Company (TPC), which supplies 500 Mega watts (Mw) of power to the Anil Dhirubhai Ambani (ADA) group company Reliance Infrastructure's (R-Infra's) distribution area in Mumbai, has decided to discontinue the supply from April 1, 2010.
• Tata Steel, the world’s sixth-largest steelmaker, has posted a 59.91 per cent fall in profit at Rs 4,950.90 crore in the financial year ended March 2009, after incurring heavy restructuring costs to save its downturn-hit subsidiary, Corus, in UK.
• Unitech Ltd, the country’s second-largest property developer, reported a decline of 22 per cent in its consolidated net profit for the quarter ended March 31 to Rs 279.7 crore, compared with Rs 360.2 crore for the corresponding period last year. Net profit for the full year 2008-09 also fell 28 per cent at Rs 1,197.7 crore, compared with Rs 1,661.9 crore for the corresponding period last year. Revenue for the year came down 23 per cent, to Rs 3315.6 crore, as compared with Rs 4,280.1 crore for the corresponding period last year.
• Pfizer has increased its tender offer price to Rs 830 per share, an increase of 23 per cent over the original offer price of Rs 675 per share, to acquire 33.7 per cent stake in its Indian subsidiary, Pfizer Ltd.
• Kirloskar Brothers Ltd(KBL), a leading player in the pump manufacturing segment, is looking at acquisitions in the US and Europe in the pumping solutions space, and hopes to complete the process within this fiscal. The company is at the same time bullish on the power sector, especially by the opportunities thrown open by the Indo-US nuke deal.
• Anil Ambani Group company Reliance Natural Resources (RNRL) is understood to have written another letter to Reliance Industries (RIL) to find a way for an agreement for gas supply by the latter. This is the second letter in as many days RNRL is shooting off to Mukesh Ambani-led RIL.
However, no comments could be obtained either from RIL or RNRL.
• Three weeks after celebrating his 55th birthday, Infosys co-founder Nandan Nilekani will step down from the board of Infosys Technologies, of which he is co-chairman, on July 9 to take over as chairman of the Unique Identification Authority of India (UIDAI), the government’s ambitious project to provide every citizen with a unique biometric identity card.
• ONGC Videsh Ltd (OVL) and its partners Indian Oil Corporation (IOC)and Oil India Ltd (OIL) have proposed an investment of about $5 billion in bringing to production a massive gas field they discovered in offshore Iran, in the next 3-4 years.
• GAIL India said it will invest over Rs 7,500 crore in laying natural gas transportation pipelines from Dabhol on Maharashtra coast to Bengaluru and Kochi to Mangalore.
• The department of revenue in the finance ministry has raised objections to an application by United Breweries (Holdings) Ltd (UBHL) seeking approval for raising Rs 708 crore by issuing fully convertible equity warrants to FirStart Inc, a company owned by UB group promoter Vijay Mallya’s mother, Lalitha, and headquartered in the British Virgin Islands.
• Areva T&D India, an arm of French power equipment maker Areva, today said it has bagged an order worth about Rs 1,200 crore from domestic steel major Jindal Steel & Power Ltd (JSPL) for a power project.
• Tata Power Company (TPC), which supplies 500 Mega watts (Mw) of power to the Anil Dhirubhai Ambani (ADA) group company Reliance Infrastructure's (R-Infra's) distribution area in Mumbai, has decided to discontinue the supply from April 1, 2010.
• Tata Steel, the world’s sixth-largest steelmaker, has posted a 59.91 per cent fall in profit at Rs 4,950.90 crore in the financial year ended March 2009, after incurring heavy restructuring costs to save its downturn-hit subsidiary, Corus, in UK.
• Unitech Ltd, the country’s second-largest property developer, reported a decline of 22 per cent in its consolidated net profit for the quarter ended March 31 to Rs 279.7 crore, compared with Rs 360.2 crore for the corresponding period last year. Net profit for the full year 2008-09 also fell 28 per cent at Rs 1,197.7 crore, compared with Rs 1,661.9 crore for the corresponding period last year. Revenue for the year came down 23 per cent, to Rs 3315.6 crore, as compared with Rs 4,280.1 crore for the corresponding period last year.
• Pfizer has increased its tender offer price to Rs 830 per share, an increase of 23 per cent over the original offer price of Rs 675 per share, to acquire 33.7 per cent stake in its Indian subsidiary, Pfizer Ltd.
• Kirloskar Brothers Ltd(KBL), a leading player in the pump manufacturing segment, is looking at acquisitions in the US and Europe in the pumping solutions space, and hopes to complete the process within this fiscal. The company is at the same time bullish on the power sector, especially by the opportunities thrown open by the Indo-US nuke deal.
Equtiy Morning Mantra
The market is likely to open on a flat note with a positive bias taking cues from global markets. Asian stocks rose as commodity prices jumped amid optimism the U.S. recession may ease after the economy shrank less than expected in the first quarter. U.S. stocks jumped on Thursday as investors were relieved that Federal Reserve Chairman Ben Bernanke weathered a congressional hearing well. India’s wholesale prices declined for a second straight week as demand slowed in an economy growing at the weakest pace in seven years. The benchmark wholesale-price inflation index fell 1.14 percent in the week to June 13 from a year earlier after tumbling 1.61 percent in the preceding week.
According to provisional data on NSE, foreign funds sold worth a net Rs. 1482.82 crore on Thursday, 25 June 2009. Domestic funds bought shares worth a net Rs. 1118.05 crore on that day.
According to provisional data on NSE, foreign funds sold worth a net Rs. 1482.82 crore on Thursday, 25 June 2009. Domestic funds bought shares worth a net Rs. 1118.05 crore on that day.
Thursday, June 25, 2009
NEWS CAPSULES
• In a sequel to the Bombay High Court order of June 15, Anil Ambani’s Reliance Natural Resources Ltd (RNRL) has written to Reliance Industries Ltd (RIL), its balky gas supplier, seeking a firm commercially bankable agreement on its Dadri power project.
• State Bank of India (SBI), the country’s largest lender, announced a 50 basis point cut in its benchmark prime lending rate (BPLR) to 11.75 per cent. The cut would be effective from Monday. With this, SBI has lowered its BPLR by 200 basis points since November 2008, when the Reserve Bank of India signalled a soft interest rate regime.
• Tech Mahindra said it is planning to pay back about Rs 1,000 crore debt for which it is issuing shares on private placement basis. Tech Mahindra board had approved the issue of 1.36 crore shares by way of private placement or Qualified Institutional Placement (QIP) basis.
• Glenmark's novel molecule for diabetes- Melogliptin will now enter phase III trials. The phase II B trials have been successfully completed with the molecule achieving glycemic control with low incidence of hypoglycemia and neutral effect on body weight.
• TVS Motor has announced the launch of its Flame brand of motorcycles under a new name, TVS Flame SR125, without the controversial twin-spark plug technology. TVS Motor and Bajaj Auto have been fighting over the the technology rights for two years.
• Sun TV announced its FY09 results. The company's net profit increased 9.03 % to Rs 340.04 crore. Its income increased 19.47 % to Rs 1039.36 crore.
• Oil and Natural Gas Corporation, posted a 16 per cent decline in net profit at Rs 2,627 crore in the fourth quarter of 2008-09, on the back of lower crude oil production during the period. For the year, the company’s net profit declined 3 per cent to Rs 16,126 crore from Rs 16,702 in the previous year. A further drop in net profit was prevented due to a smaller subsidy payout of Rs 852 crore during the January-April quarter, though the oil and gas producer shelled out Rs 28,225 crore as subsidy-sharing, higher than the Rs 22,001 crore in 2007-08, with oil marketing companies Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum. The decline in profit was despite the highest ever sales income of Rs 63,949 crore, which was up 6 per cent from Rs 60,137 crore in 2007-08.
• State Bank of India (SBI), the country’s largest lender, announced a 50 basis point cut in its benchmark prime lending rate (BPLR) to 11.75 per cent. The cut would be effective from Monday. With this, SBI has lowered its BPLR by 200 basis points since November 2008, when the Reserve Bank of India signalled a soft interest rate regime.
• Tech Mahindra said it is planning to pay back about Rs 1,000 crore debt for which it is issuing shares on private placement basis. Tech Mahindra board had approved the issue of 1.36 crore shares by way of private placement or Qualified Institutional Placement (QIP) basis.
• Glenmark's novel molecule for diabetes- Melogliptin will now enter phase III trials. The phase II B trials have been successfully completed with the molecule achieving glycemic control with low incidence of hypoglycemia and neutral effect on body weight.
• TVS Motor has announced the launch of its Flame brand of motorcycles under a new name, TVS Flame SR125, without the controversial twin-spark plug technology. TVS Motor and Bajaj Auto have been fighting over the the technology rights for two years.
• Sun TV announced its FY09 results. The company's net profit increased 9.03 % to Rs 340.04 crore. Its income increased 19.47 % to Rs 1039.36 crore.
• Oil and Natural Gas Corporation, posted a 16 per cent decline in net profit at Rs 2,627 crore in the fourth quarter of 2008-09, on the back of lower crude oil production during the period. For the year, the company’s net profit declined 3 per cent to Rs 16,126 crore from Rs 16,702 in the previous year. A further drop in net profit was prevented due to a smaller subsidy payout of Rs 852 crore during the January-April quarter, though the oil and gas producer shelled out Rs 28,225 crore as subsidy-sharing, higher than the Rs 22,001 crore in 2007-08, with oil marketing companies Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum. The decline in profit was despite the highest ever sales income of Rs 63,949 crore, which was up 6 per cent from Rs 60,137 crore in 2007-08.
Equity Market Outlook
Volatility in the market may remain high ahead of the expiry of June 2009 futures and options (F&O) contracts today. Recent selling by foreign funds may also weigh on investor sentiment. The Central Statistical Organisation (CSO) will today unveil inflation data for the year through 13 June 2009. Asian stocks rose, led by mining and technology companies, after metals prices gained and orders for U.S. durable goods unexpectedly increased. US markets were mixed on Wednesday as investors waited for the Federal
Reserve's policy decision on interest rates. Indian ADRs were in the green.
According to provisional data on NSE, foreign funds sold worth a net Rs. 791.85 crore on Wednesday, 24 June 2009. Domestic funds bought shares worth a net Rs. 728.26 crore on that day.
Reserve's policy decision on interest rates. Indian ADRs were in the green.
According to provisional data on NSE, foreign funds sold worth a net Rs. 791.85 crore on Wednesday, 24 June 2009. Domestic funds bought shares worth a net Rs. 728.26 crore on that day.
Wednesday, June 24, 2009
FW: Mahindra Holidays & Resorts India Limited - IPO NOTE
FYI
Regards
Uma Shanker D
Om Financial Services
Plot # 70, II nd Floor,
New Vasavi Nagar, Kharkana
Secunderabad - 15
Voice: 6587 8889
Fax : 2774 3978
Mob : 99083 88878
From: Sreicaps Research [mailto:sreicaps_research@srei.com]
Sent: Tuesday, June 23, 2009 6:17 PM
To: undisclosed-recipients
Subject: Mahindra Holidays & Resorts India Limited - IPO NOTE
Importance: High
Dear All,
Please find attached the IPO Note on Mahindra Holidays & Resorts India Limited for your perusal.
Thanks & Regards,
Srei Caps Research
Srei Capital Markets Limited
NEWS CAPSULES
• Bajaj Auto unveiled the second generation or version 2.0 of the DTS – Si engine. The Digital Twin Spark Swirl Induction technology engine series, says the company, is the world’s most fuel efficient engine and will feature in a new motorcycle the company hopes to unveil next month. Company executives hinted it may be featured in a vehicle that falls in the 125-135cc category.
• NTPC said that it will sign the gas purchase agreement with Reliance Industries (RIL) for its gas-based power plants other than the projects for expanding the Kawas and Gandhar units, on which litigation is going on with RIL.
• JSW Steel will ‘push’ through its 10-million-tonne steel plant at Salboni, located just 15 km from Lalgarh in West Bengal — the centre of Maoist insurgency.
• Dr Reddy’s Laboratories, an emerging global pharmaceutical company, has launched Bispec (solifencin succinate) in India. Used in the management of over active bladder (OAB), Bispec is the best-in-class for OAB and, has lesser incidence of dry mouth and constipation.
• Moser Baer, the global technology leader, expanded its LCD television range by introducing eight new models. The new line-up of LCD TVs guarantees an enhanced home entertainment experience.
• Maytas Infra, the construction company promoted by Ramalinga Raju’s family, has sought an additional loan of Rs 700 crore from bankers to revive the company. The company also wants the lending consortium to lower interest rates on loans and allow delayed repayment of debt.
• Drilling company Great Offshore became the epicentre of a bidding war, with Bharati Shipyard saying it will top rival ABG Shipyard’s Rs 375-a- share offer for a controlling stake in the company. Bharati Shipyard last month acquired a 14.89 per cent stake in Great Offshore at a price of Rs 315 per share from its vice chairman and managing director Vijay Sheth, following an invocation of shares which he had pledged. This left Sheth with less than one per cent stake in the company and he lost its control.
• ONGC, which publishes its results on Wednesday, could emerge as the only listed Indian company to report over Rs 20,000 crore in consolidated annual profit in FY09. During the first nine months, ONGC’s net profit was 1.1% lower at Rs 13,920 crore compared with the year-ago period.
• Chettinad Cement reported a net loss of Rs 98.30 crore for the quarter ended March 31, 2009. The company had a net profit of Rs 36.43 crore in the quarter ended March 2008.
• NTPC said that it will sign the gas purchase agreement with Reliance Industries (RIL) for its gas-based power plants other than the projects for expanding the Kawas and Gandhar units, on which litigation is going on with RIL.
• JSW Steel will ‘push’ through its 10-million-tonne steel plant at Salboni, located just 15 km from Lalgarh in West Bengal — the centre of Maoist insurgency.
• Dr Reddy’s Laboratories, an emerging global pharmaceutical company, has launched Bispec (solifencin succinate) in India. Used in the management of over active bladder (OAB), Bispec is the best-in-class for OAB and, has lesser incidence of dry mouth and constipation.
• Moser Baer, the global technology leader, expanded its LCD television range by introducing eight new models. The new line-up of LCD TVs guarantees an enhanced home entertainment experience.
• Maytas Infra, the construction company promoted by Ramalinga Raju’s family, has sought an additional loan of Rs 700 crore from bankers to revive the company. The company also wants the lending consortium to lower interest rates on loans and allow delayed repayment of debt.
• Drilling company Great Offshore became the epicentre of a bidding war, with Bharati Shipyard saying it will top rival ABG Shipyard’s Rs 375-a- share offer for a controlling stake in the company. Bharati Shipyard last month acquired a 14.89 per cent stake in Great Offshore at a price of Rs 315 per share from its vice chairman and managing director Vijay Sheth, following an invocation of shares which he had pledged. This left Sheth with less than one per cent stake in the company and he lost its control.
• ONGC, which publishes its results on Wednesday, could emerge as the only listed Indian company to report over Rs 20,000 crore in consolidated annual profit in FY09. During the first nine months, ONGC’s net profit was 1.1% lower at Rs 13,920 crore compared with the year-ago period.
• Chettinad Cement reported a net loss of Rs 98.30 crore for the quarter ended March 31, 2009. The company had a net profit of Rs 36.43 crore in the quarter ended March 2008.
MARKET OUTLOOK
The market is likely to open on a flat note taking cues from weak global markets. However, volatility may remain high ahead of the expiry of June 2009 futures and options (F&O) contracts on Thursday, 25 June 2009. Asian stocks fluctuated as gains among technology and energy shares overshadowed declines by finance companies. In US, The S&P 500 rose slightly on Tuesday as investors hunted for bargains a day after a steep sell-off, while the Nasdaq was flat and another delay for Boeing's 787 reamliner kept the Dow in the red.The next major trigger for the market is the Union Budget 2009-2010.
According to provisional data on NSE, foreign funds sold worth a net Rs. 654.97 crore on Tuesday, 23 June 2009. Domestic funds bought shares worth a net Rs. 318.42 crore on that day.
According to provisional data on NSE, foreign funds sold worth a net Rs. 654.97 crore on Tuesday, 23 June 2009. Domestic funds bought shares worth a net Rs. 318.42 crore on that day.
Friday, June 19, 2009
News Capsules
• The headline inflation rate, measured by the wholesale price index (WPI), stood at -1.61 per cent for the week ended June 6 this year against 11.66 per cent in the corresponding week last year. It was 0.13 per cent in the previous week.
• Reliance Infrastructure (R-Infra) CEO Lalit Jalan is a man in a hurry. The Anil Dhirubhai Ambani (ADA) group company hasn't yet got the contract for executing the second phase of the Mumbai Metro, but Jalan's team has already started negotiating with domestic banks to tie up funds for the estimated Rs 11,000-crore project.
• Domestic steel producers — JSW Steel and Essar Steel — are likely to ramp up production at mills in North America, which have been running at less than half the capacity. This follows ArcelorMittal’s decision to hike US sheet prices by $80-90 a tonne, with immediate effect.
• Opto Circuits India Ltd (OCIL), a manufacturer of medical diagnostics and interventional products, today reported a consolidated net profit of Rs 55.3 crore for the fourth quarter ended March 31, 2009. This is 61.4 per cent higher than the net profit in the corresponding quarter last year.
• Shree Renuka Sugars, India's largest sugar refiner said today that it will expand its sugar refining capacity at its Athani unit in Karnataka to 2,000 tonne per day from 1,000 tonne per day. The company also stated that it will set up a sugar refining capacity of 1,000 tonne per day at its Havalga unit also in Karnataka. Both plants are expected to be commissioned by December.
• Four Soft Limited, a Hyderabad-based provider of software solutions for transportation and logistics industry, has won a contract from Polar Speed Distribution Limited, which is ranked number one in the UK for flu vaccine distribution.
• Reliance Infrastructure (R-Infra) CEO Lalit Jalan is a man in a hurry. The Anil Dhirubhai Ambani (ADA) group company hasn't yet got the contract for executing the second phase of the Mumbai Metro, but Jalan's team has already started negotiating with domestic banks to tie up funds for the estimated Rs 11,000-crore project.
• Domestic steel producers — JSW Steel and Essar Steel — are likely to ramp up production at mills in North America, which have been running at less than half the capacity. This follows ArcelorMittal’s decision to hike US sheet prices by $80-90 a tonne, with immediate effect.
• Opto Circuits India Ltd (OCIL), a manufacturer of medical diagnostics and interventional products, today reported a consolidated net profit of Rs 55.3 crore for the fourth quarter ended March 31, 2009. This is 61.4 per cent higher than the net profit in the corresponding quarter last year.
• Shree Renuka Sugars, India's largest sugar refiner said today that it will expand its sugar refining capacity at its Athani unit in Karnataka to 2,000 tonne per day from 1,000 tonne per day. The company also stated that it will set up a sugar refining capacity of 1,000 tonne per day at its Havalga unit also in Karnataka. Both plants are expected to be commissioned by December.
• Four Soft Limited, a Hyderabad-based provider of software solutions for transportation and logistics industry, has won a contract from Polar Speed Distribution Limited, which is ranked number one in the UK for flu vaccine distribution.
Market Outlook
The market is likely to open on a flat note-taking cue from global markets. Asian stocks rose, paring the MSCI Asia Pacific Index’s biggest weekly decline since March, as better-than-estimated U.S. economic reports boosted the dollar. In US, The Dow and S&P 500 gained on Thursday, breaking a three-day losing streak, as data on the job market and regional manufacturing revived hopes that the recession-hit economy is stabilizing. Indian ADRs ended on a mixed note.
According to provisional data on NSE, foreign funds sold worth a net Rs. 584.87 crore on Thursday, 18 June 2009. Domestic funds bought shares worth a net Rs. 538.89 crore on that day.
According to provisional data on NSE, foreign funds sold worth a net Rs. 584.87 crore on Thursday, 18 June 2009. Domestic funds bought shares worth a net Rs. 538.89 crore on that day.
Thursday, June 18, 2009
News Capsules
• The Ministry of Petroleum and Natural Gas has gone ahead and directed Reliance Industries Ltd (RIL) to make additional allocation of natural gas from its Krishna-Godavari (K-G) basin find to nine power companies from the surplus available because of no or low offtake by fertiliser units.
• The Bombay High Court would decide after two weeks whether to allow the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) to amend its plea in its legal war with state-owned NTPC over a gas supply contract.
• Anil Ambani-controlled Reliance Communications (RCom) is borrowing a concept from the Charlie Chaplin classic The Great Dictator. Just as Chaplin dances with a globe in the film, RCom's forthcoming advertising campaign will shows five animated characters dancing with a globe.
• Medicis Pharmaceutical Corporation, a US-based skincare drug manufacturer, has filed a lawsuit against Daiichi Sankyo-owned Ranbaxy Pharmaceuticals for alleged infringement of its patent on Solodyn, a minocycline hydrochloride extended-release tablet used to treat acne.
• Jet Airways and Kingfisher Airlines (KFA), have increased their fuel surcharge by Rs 400 from today, as a result of successive increases in the prices of Aviation Turbine Fuel (ATF). Two days earlier, state-run oil firms hiked ATF rates by over 12 per cent on firming international oil prices. Indian Oil, Bharat Petroleum and Hindustan Petroleum raised the ATF price by Rs 3,949, to Rs 36,252 per kl in Delhi.
• Debt-ridden Wockhardt Ltd said it had sold its German subsidiary Esparma to Mova GmbH, a subsidiary of German drug major Lindopharm. Although the company did not disclose the deal size, sources said it was worth Rs 120 crore.
• Mahindra & Mahindra Ltd, India’s largest maker of sport-utility vehicles, is betting its diesel pickup trucks can beat the Chinese to the US market. Early next year, Mumbai-based Mahindra plans to start selling small 2- and 4-door pickups with a diesel engine that meets California’s strict exhaust rules.
• Godrej Consumer Products Ltd (GCPL) plans to strengthen its hair colour offerings through new launches and variants, in a bid to arrest its dipping market share in this lucrative segment.
• The Bombay High Court would decide after two weeks whether to allow the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) to amend its plea in its legal war with state-owned NTPC over a gas supply contract.
• Anil Ambani-controlled Reliance Communications (RCom) is borrowing a concept from the Charlie Chaplin classic The Great Dictator. Just as Chaplin dances with a globe in the film, RCom's forthcoming advertising campaign will shows five animated characters dancing with a globe.
• Medicis Pharmaceutical Corporation, a US-based skincare drug manufacturer, has filed a lawsuit against Daiichi Sankyo-owned Ranbaxy Pharmaceuticals for alleged infringement of its patent on Solodyn, a minocycline hydrochloride extended-release tablet used to treat acne.
• Jet Airways and Kingfisher Airlines (KFA), have increased their fuel surcharge by Rs 400 from today, as a result of successive increases in the prices of Aviation Turbine Fuel (ATF). Two days earlier, state-run oil firms hiked ATF rates by over 12 per cent on firming international oil prices. Indian Oil, Bharat Petroleum and Hindustan Petroleum raised the ATF price by Rs 3,949, to Rs 36,252 per kl in Delhi.
• Debt-ridden Wockhardt Ltd said it had sold its German subsidiary Esparma to Mova GmbH, a subsidiary of German drug major Lindopharm. Although the company did not disclose the deal size, sources said it was worth Rs 120 crore.
• Mahindra & Mahindra Ltd, India’s largest maker of sport-utility vehicles, is betting its diesel pickup trucks can beat the Chinese to the US market. Early next year, Mumbai-based Mahindra plans to start selling small 2- and 4-door pickups with a diesel engine that meets California’s strict exhaust rules.
• Godrej Consumer Products Ltd (GCPL) plans to strengthen its hair colour offerings through new launches and variants, in a bid to arrest its dipping market share in this lucrative segment.
Equity Market Outlook
The market is likely to open on a flat note with a negative bias. The Central Statistical Organisation (CSO) will today unveil inflation data for the year through 6 June 2009. Asian stocks declined, dragging the MSCI Asia Pacific Index to a three-week low, amid concern a rally since March had made stocks too expensive relative to earnings prospects. U.S. stocks fell for a third straight day after Standard & Poor’s downgraded the credit ratings of 18 banks, overshadowing gains in health-care shares as Congress prepares legislation to overhaul the industry. Technology shares buoyed the Nasdaq on Wednesday after positive broker comments on Qualcomm, but financial shares' losses held back the Dow and the S&P 500.
According to provisional data on NSE, foreign funds sold worth a net Rs. 363.99 crore on Wednesday, 17 June 2009. Domestic funds bought shares worth a net Rs. 569.10 crore on that day.
According to provisional data on NSE, foreign funds sold worth a net Rs. 363.99 crore on Wednesday, 17 June 2009. Domestic funds bought shares worth a net Rs. 569.10 crore on that day.
Tuesday, June 16, 2009
Equity Morning Mantra
The market is likely to extend its Monday losses tracking weak global markets. Asian stocks fell for a second day, led by automakers and mining companies, after a New York manufacturing report missed economist estimates and commodity prices sank. U.S. stocks tumbled, marking their worst slide in a month on Monday after regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices. Indian ADRs ended lower with a deep cut in all the sectors.
According to provisional data on NSE, foreign funds sold worth a net Rs. 411.54 crore on Monday, 15 June 2009. Domestic funds sold shares worth a net Rs. 586.63 crore on that day.
According to provisional data on NSE, foreign funds sold worth a net Rs. 411.54 crore on Monday, 15 June 2009. Domestic funds sold shares worth a net Rs. 586.63 crore on that day.
Monday, June 15, 2009
NEWS CAPSULES
• Concerned at the slow progress in expanding electricity generation capacity, the power ministry has asked NTPC to sign the gas purchase deal with RIL for projects other than expanding the Kawas and Gandhar units, on which a legal dispute is on with the private company.
• The government has granted a year’s extension to Satyam Computer Services for completion of three special economic zones (SEZs) in Andhra Pradesh, giving elbow room to the new management of the IT firm.
• Bharat Electronics Ltd (BEL), the public sector defence undertaking, dedicated to the Army its new artillery combat and control system. Christened Shakti, the new system is developed by BEL in association with Defence Research and Development Organisation (DRDO).
• Suzlon, the world’s fifth-largest wind turbine maker, is exploring the option of selling a large portion of its stake in Belgian company Hansen Transmissions, to raise money for retiring part of its Rs 12,000-crore debt. The company could also consider selling its entire stake in Hansen, according to people close to the development.
• Shipping Corporation of India (SCI) and Oil and Natural Gas Corp (ONGC) are planning to revive a proposed joint venture (JV) for services related to vessel operations and are working on hiring a consultant for the purpose.
• Eveready Industries India (EIIL), the BM Khaitan Group flagship company, is buying out France’s rechargeable battery maker Uniross from CG Holding for e10 million (Rs 60 crore approx). This is EIIL’s first overseas acquisition in the offshore battery turf.
• The government has granted a year’s extension to Satyam Computer Services for completion of three special economic zones (SEZs) in Andhra Pradesh, giving elbow room to the new management of the IT firm.
• Bharat Electronics Ltd (BEL), the public sector defence undertaking, dedicated to the Army its new artillery combat and control system. Christened Shakti, the new system is developed by BEL in association with Defence Research and Development Organisation (DRDO).
• Suzlon, the world’s fifth-largest wind turbine maker, is exploring the option of selling a large portion of its stake in Belgian company Hansen Transmissions, to raise money for retiring part of its Rs 12,000-crore debt. The company could also consider selling its entire stake in Hansen, according to people close to the development.
• Shipping Corporation of India (SCI) and Oil and Natural Gas Corp (ONGC) are planning to revive a proposed joint venture (JV) for services related to vessel operations and are working on hiring a consultant for the purpose.
• Eveready Industries India (EIIL), the BM Khaitan Group flagship company, is buying out France’s rechargeable battery maker Uniross from CG Holding for e10 million (Rs 60 crore approx). This is EIIL’s first overseas acquisition in the offshore battery turf.
MARKET OUTLOOK
The market is likely to open on a negative note taking cues from global markets. Asian stocks declined, dragging the MSCI Asia Pacific Index from an eight-month high, on concern a rally since March had overvalued earnings prospects. In US, The Dow moved into positive territory for the year for the first time since early January on Friday, lifted by defensive sectors like pharmaceuticals while a disappointing outlook from National Semiconductor weighed on technology stocks.
According to provisional data on NSE, foreign funds bought worth a net Rs. 469.35 crore on Friday, 12 June 2009. Domestic funds sold shares worth a net Rs. 250.71 crore on that day.
According to provisional data on NSE, foreign funds bought worth a net Rs. 469.35 crore on Friday, 12 June 2009. Domestic funds sold shares worth a net Rs. 250.71 crore on that day.
Weekly News Roundup
MARKET OUTLOOK:
World markets are all in uptrend though the speed of rise has reduced and they are showing some signs of tiredness. It seems that they might consolidate for sometime before they take their next move. One should not be too aggressive to buy at current levels and rather wait for a correction. Base metals are strong but Gold is showing some weakness. Nifty takes support between 4250-4000 and Sensex between 14000-13400 levels.
World markets are all in uptrend though the speed of rise has reduced and they are showing some signs of tiredness. It seems that they might consolidate for sometime before they take their next move. One should not be too aggressive to buy at current levels and rather wait for a correction. Base metals are strong but Gold is showing some weakness. Nifty takes support between 4250-4000 and Sensex between 14000-13400 levels.
Friday, June 12, 2009
NEWS CAPSULES
• Larsen and Toubro (L&T) has offloaded its entire 11.49% stake in UltraTech Cement for about Rs 1,037 crore and the fund will be used for the capital expenditure and investment in new initiatives. L&T has sold over 14.3 million shares at an average price of Rs 725 a share. The shares were sold to 25 financial institutions, including 13 overseas and 12 domestic , in two blocks of 13.7 million shares and 630,289 shares on the National Stock Exchange (NSE). Citigroup was the sole book-runner to the deal.
• Tata Tea,the second-largest branded packaged one in the sector, today announced restructuring of its global operations under a single management team, as it plans to become a leader in the $160 billion ‘good for you’ beverages market.
• Kishore Biyani-led Pantaloon Retail’s same-store sales in May grew the highest in the last seven months, as a revival in consumer demand propped up the company’s sales numbers. Same-store numbers in value retailing (led by Big Bazaar and Food Bazaar) grew 8.14% — the highest Since November — to Rs 339.58 crore, while lifestyle retailing grew 8.35% to Rs 123.13 crore. Home retailing was down 28.27 % in May compared with the same month last year.
• GMR Energy Ltd, the subsidiary of Bangalore-based infrastructure major, GMR Infrastructure Ltd, has finalised a Rs 400 crore investment plan to relocate and restart its barge-mounted naphtha fired power project from Mangalore on the west coast to Kakinada on the east coast in Andhra
Pradesh. The new plant, which will use natural gas as basic fuel, will be operationalised by March 2010.
• Shriram EPC is eyeing about 50% growth in consolidated turnover this fiscal. The company said significant growth will come from renewable energy business especially wind energy, which would bring around Rs 600 crore.
• Tata Tea,the second-largest branded packaged one in the sector, today announced restructuring of its global operations under a single management team, as it plans to become a leader in the $160 billion ‘good for you’ beverages market.
• Kishore Biyani-led Pantaloon Retail’s same-store sales in May grew the highest in the last seven months, as a revival in consumer demand propped up the company’s sales numbers. Same-store numbers in value retailing (led by Big Bazaar and Food Bazaar) grew 8.14% — the highest Since November — to Rs 339.58 crore, while lifestyle retailing grew 8.35% to Rs 123.13 crore. Home retailing was down 28.27 % in May compared with the same month last year.
• GMR Energy Ltd, the subsidiary of Bangalore-based infrastructure major, GMR Infrastructure Ltd, has finalised a Rs 400 crore investment plan to relocate and restart its barge-mounted naphtha fired power project from Mangalore on the west coast to Kakinada on the east coast in Andhra
Pradesh. The new plant, which will use natural gas as basic fuel, will be operationalised by March 2010.
• Shriram EPC is eyeing about 50% growth in consolidated turnover this fiscal. The company said significant growth will come from renewable energy business especially wind energy, which would bring around Rs 600 crore.
MARKET OUTLOOK
The market is likely to open on positive note tracking firm global markets. The index of industrial production (IIP) figures for April 2009 announced by noon today will be closely watched. Asian stocks rose for a third day as improved economic indicators pointed to an easing of the U.S. recession and metal prices jumped the most in 10 days. U.S. stocks racked up gains across a wide array of sectors on Thursday, aided by rising commodity prices and improving labor market conditions, along with a sharp drop in interest rates.
According to provisional data on NSE, foreign funds bought worth a net Rs.
786.57 crore on Thursday, 11 June 2009. Domestic funds bought shares worth a net Rs. 558.14 crore on that day.
According to provisional data on NSE, foreign funds bought worth a net Rs.
786.57 crore on Thursday, 11 June 2009. Domestic funds bought shares worth a net Rs. 558.14 crore on that day.
Thursday, June 11, 2009
News Capsules 11 Jun
• Reliance Industries Ltd (RIL) has increased LPG supplies to Indian Oil, Bharat Petroleum and Hindustan Petroleum from its twin refineries at
Jamnagar, forcing state-run firms to sell cooking fuel cargoes that they had contracted from overseas suppliers. RIL’s production has to be necessarily
sold to state-run firms and is not allowed to export LPG.
• Larsen & Toubro will sell its 11.49 per cent stake in the Aditya Birla Group-owned UltraTech Cement in the open market, after the latter waived its first right of refusal to buy the stake.
• Mahindra & Mahindra (M&M) is likely to buy out its local partner in Mahindra South Africa (Mahindra SA), which is currently a 92 per cent subsidiary. The company is also evaluating the possibility of starting a local completely knocked down (CKD) assembly unit there. A decision on buying out the stake of its local partner is likely to be taken in a month’s time. The 8 per cent stake is held by African Automotive Investments Corporation, a
subsidiary of African Resources and Logistics Corporation.
• Kingfisher Airlines is looking to roll over close to Rs 800 crore of its short-term debt, even as it finalises the paperwork to borrow another Rs 1,500 crore from a few Indian public sector banks.
• The Maharashtra Government has ordered a high-level inquiry into wind turbine maker Suzlon Energy’s land deals in the past two to three years at
Dhule and Nandurbar, where it is setting up the world’s largest wind energy park.
• Bosch Limited, the flagship company of Bosch Group in India, plans to commission its unit in Tata Motors' Vendors Park in Sanand, near Ahmedabad, by October 2009. The auto component company is planning to be on schedule with its supply to Tata Motors' Nano.
Jamnagar, forcing state-run firms to sell cooking fuel cargoes that they had contracted from overseas suppliers. RIL’s production has to be necessarily
sold to state-run firms and is not allowed to export LPG.
• Larsen & Toubro will sell its 11.49 per cent stake in the Aditya Birla Group-owned UltraTech Cement in the open market, after the latter waived its first right of refusal to buy the stake.
• Mahindra & Mahindra (M&M) is likely to buy out its local partner in Mahindra South Africa (Mahindra SA), which is currently a 92 per cent subsidiary. The company is also evaluating the possibility of starting a local completely knocked down (CKD) assembly unit there. A decision on buying out the stake of its local partner is likely to be taken in a month’s time. The 8 per cent stake is held by African Automotive Investments Corporation, a
subsidiary of African Resources and Logistics Corporation.
• Kingfisher Airlines is looking to roll over close to Rs 800 crore of its short-term debt, even as it finalises the paperwork to borrow another Rs 1,500 crore from a few Indian public sector banks.
• The Maharashtra Government has ordered a high-level inquiry into wind turbine maker Suzlon Energy’s land deals in the past two to three years at
Dhule and Nandurbar, where it is setting up the world’s largest wind energy park.
• Bosch Limited, the flagship company of Bosch Group in India, plans to commission its unit in Tata Motors' Vendors Park in Sanand, near Ahmedabad, by October 2009. The auto component company is planning to be on schedule with its supply to Tata Motors' Nano.
Wednesday, June 10, 2009
News Capsules 10-Jun
Satyam Computer Services posted its results for the quarter ended December 31, 2008, revealing a consolidated net profit of around Rs 160 crore and revenues of Rs 2,414.31 crore.
• Unitech has exited from New Kolkata International Development (NKID) Pvt Ltd, a special purpose vehicle (SPV) formed to develop several large
projects in West Bengal, including the proposed petroleum, chemicals and petrochemical investment region (PCPIR) at Nayachar. Unitech had 40 per
cent stake in NKID.
• Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.
• NTPC has agreed to buy natural gas from Reliance Industries but is opposed to paying marketing margin to the private firm and wants to use the fuel at plants other than Kawas and Gandhar that were identified by the government. The government had allocated 2.67 million cubic metres of gas a day of natural gas from RIL’s Bay of Bengal KG-D6 fields to NTPC.
• The Kishore Biyani-led Future Group plans to raise as much as Rs 4,000 crore in the next two years to fund its expansion plans. The group will open
18 Central stores and 45 Big Bazaars in the next one year.
• Satyam Computer Services, reeling under the impact of India’s largest corporate scandal, managed to bag new business orders worth $380 million
(around Rs 1,800 crore), as on March 26, 2009. These deals have come from 215 of its existing clients.
• Shareholders of the Anil Dhirubhai Ambani Group (ADAG) promoted Reliance Infrastructure gave their approval to the proposal to de-merge and
transfer various divisions of the company to separate wholly-owned subsidiaries.
• India’s leading automobile company, Tata Motors, sold 11 million shares of Tata Steel, or 1.5 per cent of the latter’s equity, to promoter company Tata Sons for Rs 456.8 crore.
• GMR Infrastructure Ltd, the Bangalore-based global infrastructure major with interests in airports, energy, highways and urban infrastructure, will
increase its holding in its subsidiary Delhi International Airport Limited (DIAL) by nearly 4 per cent to 54 per cent.
• KSK Energy Ventures Limited, a Hyderabad-based power project development company, has received consent from the Chhattisgarh government to enhance the power generation capacity of the Wardha Chhattisgarh power plant at Nariyara to 3,600Mw
• Unitech has exited from New Kolkata International Development (NKID) Pvt Ltd, a special purpose vehicle (SPV) formed to develop several large
projects in West Bengal, including the proposed petroleum, chemicals and petrochemical investment region (PCPIR) at Nayachar. Unitech had 40 per
cent stake in NKID.
• Tata Housing, a unit of Tata Sons, is advancing its plans to build 15,000 low-cost dwelling units by two years. Besides, it should add 300 more houses in its Mumbai project to take the advantage of demand for such homes, a top company official said.
• NTPC has agreed to buy natural gas from Reliance Industries but is opposed to paying marketing margin to the private firm and wants to use the fuel at plants other than Kawas and Gandhar that were identified by the government. The government had allocated 2.67 million cubic metres of gas a day of natural gas from RIL’s Bay of Bengal KG-D6 fields to NTPC.
• The Kishore Biyani-led Future Group plans to raise as much as Rs 4,000 crore in the next two years to fund its expansion plans. The group will open
18 Central stores and 45 Big Bazaars in the next one year.
• Satyam Computer Services, reeling under the impact of India’s largest corporate scandal, managed to bag new business orders worth $380 million
(around Rs 1,800 crore), as on March 26, 2009. These deals have come from 215 of its existing clients.
• Shareholders of the Anil Dhirubhai Ambani Group (ADAG) promoted Reliance Infrastructure gave their approval to the proposal to de-merge and
transfer various divisions of the company to separate wholly-owned subsidiaries.
• India’s leading automobile company, Tata Motors, sold 11 million shares of Tata Steel, or 1.5 per cent of the latter’s equity, to promoter company Tata Sons for Rs 456.8 crore.
• GMR Infrastructure Ltd, the Bangalore-based global infrastructure major with interests in airports, energy, highways and urban infrastructure, will
increase its holding in its subsidiary Delhi International Airport Limited (DIAL) by nearly 4 per cent to 54 per cent.
• KSK Energy Ventures Limited, a Hyderabad-based power project development company, has received consent from the Chhattisgarh government to enhance the power generation capacity of the Wardha Chhattisgarh power plant at Nariyara to 3,600Mw
Pre market Outlook
Market is likely to open on a positive note, taking cues from global markets. The Nasdaq rose on Tuesday after an improved outlook from Texas Instruments lifted technology stocks, but news that 10 big banks will repay TARP funds failed to stir investor enthusiasm. European markets were also up after the positive news from U.S. chipmaker Texas Instruments and crude oil prices crossing $70. Asian stocks are trading up for the first time in three days, led by commodity and shipping companies asoil climbed above $70 a barrel and metals prices advanced.
According to provisional data on NSE, foreign funds bought worth a net Rs.
955.31 crore on Tuesday, 09 June 2009. Domestic funds sold shares worth a net Rs. 143.21 crore on that day.
According to provisional data on NSE, foreign funds bought worth a net Rs.
955.31 crore on Tuesday, 09 June 2009. Domestic funds sold shares worth a net Rs. 143.21 crore on that day.
Tuesday, June 2, 2009
News Capsules
• Exports fell more than 33 per cent for the second consecutive month in April 2009, with economic recession in advanced economies adversely impacting foreign demand for Indian manufacturers. Imports fell even more sharply, by 37 per cent, mainly because of a fall in oil prices. With imports declining at a faster rate than exports, the trade deficit — the difference between the two — narrowed 50 per cent to $5 billion in April 2009. This is also the second consecutive month the contraction in imports has exceeded the fall in exports.
• General Motors Corp, the world’s largest carmaker until its 77-year reign ended last year, filed for bankruptcy protection in the US with a plan to create a 21st-century company that can compete in world markets. GM reported $82.3 billion in assets and $172.8 billion in debt. The US government will bankroll the transformation of the 100-year-old automaker, a victim of tumbling sales and higher gas prices. The US plans to convert much of its $50 billion of loans to a 60 per cent stake in the new entity. In New York coincided with a deadline for GM to convince a government auto task force that it could reorganise out of court through debt and cost-cutting.
• Tata Advanced System Limited (TAS), a unit of the Tata group, will set up a helicopter manufacturing unit at the Aerospace Special Economic Zone (SEZ) in Adhibatla village near the Hyderabad international airport.
• Pantaloon Retail, the country’s largest retailer, is close to sealing an equity partnership deal between one of its subsidiaries and French retail giant Carrefour. Under the deal, being given finishing touches, Carrefour is expected to take an equity stake in Future Fashion Merchandise, a company created recently after restructuring the group’s retail business.
• Pharma firm Pfizer India said the open offer by its parent firm for acquiring an additional 34 per cent stake in it has been rescheduled and will now begin on June 15. The open offer by its Netherlands-based parent for a 33.77 per cent stake in it would open on June 15 and close on July 4.
• Kalpataru Power Transmission reported a fall of 54 per cent in its net profit for the fourth quarter ended March 31 to Rs 23.17 crore. The company had a net profit of Rs 50.37 crore during the January-March quarter a year earlier.
• General Motors Corp, the world’s largest carmaker until its 77-year reign ended last year, filed for bankruptcy protection in the US with a plan to create a 21st-century company that can compete in world markets. GM reported $82.3 billion in assets and $172.8 billion in debt. The US government will bankroll the transformation of the 100-year-old automaker, a victim of tumbling sales and higher gas prices. The US plans to convert much of its $50 billion of loans to a 60 per cent stake in the new entity. In New York coincided with a deadline for GM to convince a government auto task force that it could reorganise out of court through debt and cost-cutting.
• Tata Advanced System Limited (TAS), a unit of the Tata group, will set up a helicopter manufacturing unit at the Aerospace Special Economic Zone (SEZ) in Adhibatla village near the Hyderabad international airport.
• Pantaloon Retail, the country’s largest retailer, is close to sealing an equity partnership deal between one of its subsidiaries and French retail giant Carrefour. Under the deal, being given finishing touches, Carrefour is expected to take an equity stake in Future Fashion Merchandise, a company created recently after restructuring the group’s retail business.
• Pharma firm Pfizer India said the open offer by its parent firm for acquiring an additional 34 per cent stake in it has been rescheduled and will now begin on June 15. The open offer by its Netherlands-based parent for a 33.77 per cent stake in it would open on June 15 and close on July 4.
• Kalpataru Power Transmission reported a fall of 54 per cent in its net profit for the fourth quarter ended March 31 to Rs 23.17 crore. The company had a net profit of Rs 50.37 crore during the January-March quarter a year earlier.
Pre Market Outlook 2-Jun
The market is likely to open on a flat note with a positive bias taking cues from global markets. However profit booking after the recent sharp rally cannot be ruled out. Asian stocks rose after U.S. economic data added to signs the global recession is abating and General Motors Corp.’s bankruptcy raised optimism Asia’s automakers will gain market share. U.S. stocks rose on Monday, sending the S&P 500 to its highest close in seven months, as reassuring economic data reinforced hopes that demand will stabilize, while General Motors' long-expected bankruptcy filing ended uncertainty about the automaker's fate. Indian ADRs were also up.
According to provisional data on NSE, foreign funds bought worth a net Rs. 279.67 crore on Monday, 01 June 2009. Domestic funds sold shares worth a net Rs. 196.74 crore on that day.
According to provisional data on NSE, foreign funds bought worth a net Rs. 279.67 crore on Monday, 01 June 2009. Domestic funds sold shares worth a net Rs. 196.74 crore on that day.
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