Friday, April 30, 2010
सेन्सेक्स (17558.71) 55.24 अंक चढ्कर, नीफ़्टी (5278.00) 23.85 अंक चढ्कर, बंद..
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India Cements Q4 FY10 profit stood at Rs38.3cr lower than our expecation of 75cr.
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European markets update: FTSE Index up 0.2%, CAC Index up 0.1% and DAX Index up 0.7%
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Results Today:
ABB, Adani Power, Allahabad Bank, Alok Inds, Bank of Maharashtra, Gateway Distriparks, GVK Power, HCL Info, HCC, IDBI Bank, IFCI, India Cements, IRB Infra, Moser Baer, NDTV, Reliance Capital, Sintex, Tata Elxsi, TTML, Tech Mahindra, Titan, Uco Bank and Vijaya Bank.
Corporate Snippets
RIL plans to sell gas to retail consumers in the US, using Atlas Energy’s infrastructure
UltraTech Cement has acquired Dubai-based ETA Star Cement for an enterprise value of Rs17bn. (ET)
Jindal Steel and Power is close to acquiring Oman based Shabed Iron and Steel for US$500mn. (ET)
Supreme Court verdict on RIL-RNRL gas issue is likely next week. (ET)
Air India has opposed the marketing alliance between Kingfisher Airlines and British Airways on domestic network. (ET)
NTPC-BHEL Power Projects, 50:50 JV between the two PSU’s, is expecting orders worth Rs70bn by the end of current fiscal (ET)
Infinite Computer Solutions has bagged an order worth Rs1.25bn. (BL)
UltraTech Cement has acquired Dubai-based ETA Star Cement for an enterprise value of Rs17bn. (ET)
Jindal Steel and Power is close to acquiring Oman based Shabed Iron and Steel for US$500mn. (ET)
Supreme Court verdict on RIL-RNRL gas issue is likely next week. (ET)
Air India has opposed the marketing alliance between Kingfisher Airlines and British Airways on domestic network. (ET)
NTPC-BHEL Power Projects, 50:50 JV between the two PSU’s, is expecting orders worth Rs70bn by the end of current fiscal (ET)
Infinite Computer Solutions has bagged an order worth Rs1.25bn. (BL)
Pre Market Commentary ...
Yes, there is some profit to be made from the global rebound this morning, but one should not get carried away as the advance may run out of steam after a while. We expect a positive start following further improvement in risk tolerance worldwide. Early gains may not hold though and the market may once again turn choppy and rangebound. Near-term sentiment may remain at the mercy of global events even as earnings continue to trickle in, both here and overseas. Monsoon will be the next big event on the domestic calendar.
Meanwhile, the Government has been able to ward off the Opposition challenge in parliament and has passed the Finance Bill. It is also set to garner much more from the 3G-BWA auctions than what had been estimated earlier. So, the fiscal deficit for FY11 may look a tad better. The challenge is to maintain fiscal discipline by cutting wasteful spending rather than relying on extraordinary income.
April was a dull month for Indian equities, as the main indices were stuck in a range. A breakout from the current range may continue to elude us unless we have a major global rally. So, it would be wise to stay cautious though there is no need to panic. Be selective and careful in picking stocks, especially the small- and mid-cap ones.
Meanwhile, the Government has been able to ward off the Opposition challenge in parliament and has passed the Finance Bill. It is also set to garner much more from the 3G-BWA auctions than what had been estimated earlier. So, the fiscal deficit for FY11 may look a tad better. The challenge is to maintain fiscal discipline by cutting wasteful spending rather than relying on extraordinary income.
April was a dull month for Indian equities, as the main indices were stuck in a range. A breakout from the current range may continue to elude us unless we have a major global rally. So, it would be wise to stay cautious though there is no need to panic. Be selective and careful in picking stocks, especially the small- and mid-cap ones.
Thursday, April 29, 2010
सेन्सेक्स (17503.47) 123.39 अंक चढ्कर, नीफ़्टी (5254.15) 38.70 अंक चढ्कर, बंद..
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European markets update: FTSE Index up 0.2%, CAC Index flat and DAX Index up 0.3%
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Sector Watch: Power, Banking, Pharma & Infra
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Results Today:
Andhra Bank, Ashok Leyland, BASF India, Bata India, Biocon, Cadila, Ceat, CESC, HCL Infosystems, Hexaware, Indiabulls Real Estate, ING Vysya Bank, IOB, KEC International, Mahindra Holidays, MRF, OBC, Parsvnath Developers, Shriram Transport, Siemens, Thomas Cook, UltraTech, UB Holding and United Phosphorus.
FIIs were net sellers of Rs1.31bn on Wednesday on a provisional basis. Local funds were net buyers of Rs3.24bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net sellers of Rs9.94bn. On Tuesday, FIIs were net buyers of Rs1.6bn in the cash segment, as per the SEBI web site.
Corporate Snippets
RIL has made a fourth oil discovery in the Cambay basin in Gujarat. (BS)
AT&T has sold 7% stake in Tech Mahindra for Rs6.6bn; LIC buys 6%. (BS)
Tata Group and Actis to form US$2bn JV for building roads over 5 years. (ET)
NTPC to invest Rs400bn in three coal base power project in Madhya Pradesh. (ET)
NTPC and Coal India enters into a JV for coal block acquisitions. (BL)
Royal Dutch Shell is no longer in exclusive talks with Essar Oil for sale of its refineries in UK and Germany. (ET)
Suzlon’s European division forms JV with Volkswind to accelerate growth in Bulgaria. (ET
AT&T has sold 7% stake in Tech Mahindra for Rs6.6bn; LIC buys 6%. (BS)
Tata Group and Actis to form US$2bn JV for building roads over 5 years. (ET)
NTPC to invest Rs400bn in three coal base power project in Madhya Pradesh. (ET)
NTPC and Coal India enters into a JV for coal block acquisitions. (BL)
Royal Dutch Shell is no longer in exclusive talks with Essar Oil for sale of its refineries in UK and Germany. (ET)
Suzlon’s European division forms JV with Volkswind to accelerate growth in Bulgaria. (ET
Pre Market Commentary ...
Some semblance of stability has returned to the global markets though Europe continues to be rattled by concerns that the debt problems of PIIGS group could linger on for a while and might spread to other parts of the region. Meanwhile, ratings agency S&P downgraded Spain's credit rating and said the outlook is negative. Incidentally, the Greek market was one of the few indices to rise in Europe after its regulator banned short selling for two months.
In the US, the Fed left key rates steady and didn’t make any change in its language. The Fed said that the US economy continues to strengthen and the labor market is beginning to improve. The Fed’s rate action and commentary helped Wall Street post a modest advance. Asian markets are mixed but relatively stable. Japanese market is shut today.
We expect a steady start on Indian bourses. After a sharp fall there is always a chance of a rebound. But the F&O expiry and uncertainty over the emerging financial situation in Europe may continue to haunt the bulls. Aggressive buying should be avoided till the near-term turbulence is over. The market will be volatile and we advise you to focus on stock centric action after doing proper due diligence.
Wednesday, April 28, 2010
सेन्सेक्स (17380.08) -310.54 अंक गिरकर, नीफ़्टी (5215.45) -92.90 अंक गिरकर, बंद.
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Exide Q4 net profit at Rs134.5cr (up 97%) and net sales at Rs1028cr (up 29%)
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LIC Housing Finance Q4 net profit at Rs213cr (up 35%)
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European markets update: FTSE Index flat, CAC Index and DAX Index down 0.5% each
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Suzlon enters JV with VOLKSWIND to develop wind energy market in Bulgaria
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Results Today:
Alfa Laval, Alstom Projects, Balaji Telefilms, Balrampur Chini, Bharti Airtel, Bank of Baroda, Canara Bank, Dabur India, Eicher Motors, Essel Propack, Exide, GHCL, Ingersoll Rand, JSL, Kesoram, LIC Housing, Marico, Mindtree, Patni and Shoppers Stop.
FIIs were net sellers of Rs1.64bn on Tuesday on a provisional basis. Local funds were net buyers of Rs10.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs1.08bn. On Monday, FIIs were net buyers of Rs5.65bn in the cash segment, as per the SEBI web site.
Corporate Snippets
ONGC and IOC are set to get approval from the government to spend five times more on acquisitions, giving them greater freedom to compete with China for assets. (BS)
NPCIL and NTPC have entered into an agreement to set up nuclear power projects, with the latter holding 49% stake in the JV. (BS)
NTPC and SAIL are expected to be permitted to make US$1.1bn takeovers without government clearance. (BS)
SAIL and Posco, who are in talks to jointly set up a steel plant in Jharkhand, are also exploring forming another JV to build a Rs10bn specialized steel mill in Maharashtra. (BS)
TCS has been shortlisted for another tender by the ministry of overseas Indian affairs along with Wipro and Spanco. (ET)
NPCIL and NTPC have entered into an agreement to set up nuclear power projects, with the latter holding 49% stake in the JV. (BS)
NTPC and SAIL are expected to be permitted to make US$1.1bn takeovers without government clearance. (BS)
SAIL and Posco, who are in talks to jointly set up a steel plant in Jharkhand, are also exploring forming another JV to build a Rs10bn specialized steel mill in Maharashtra. (BS)
TCS has been shortlisted for another tender by the ministry of overseas Indian affairs along with Wipro and Spanco. (ET)
Pre Market Commentary ...
It is time for the bulls to change their way a bit, at least for today, as heightened sovereign debt troubles in Europe has sent global markets in a bit of a tizzy. Risk appetite has taken a beating amid concerns that the financial mess in "PIGGS" could spread to more European nations and may hurt the global economic recovery. The Goldman Sachs fraud case and worries about more tightening in China are among the other pressure points.
To add to the volatility we have the F&O expiry on Thursday. The Fed will keep rates steady later today. Still, the markets will be eager to know if there is any change in its language. Given the weak global backdrop, the Indian market too will witness a gap-down opening. Whether we recover from this global jolt will hinge on how European markets open.
One will also have to keep a close tab on the latest developments in the region. The Nifty has a good support at 5200 but may fall below it if there is any further deterioration in the global sentiment. It is time to be a little guarded and wait for the turbulence to get over. A selective and careful approach is the need of the hour.
Tuesday, April 27, 2010
सेन्सेक्स (17690.62) -54.66 अंक गिरकर, नीफ़्टी (5308.35) -14.10 अंक गिरकर, बंद.
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European markets update: FTSE Index down 0.6%, CAC Indx down 0.7% and CAC Index down 0.4%
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Asian market update: Shanghai Index down 2% and Hang Seng Index down 1.5%
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Results Today:
Aventis Pharma, Concor, Dena Bank, Gillette India, GSK Pharma, Greaves Cotton, IDFC, Ispat Industries, JSW Energy, Motilal Oswal Financial, Petronet LNG, Piramal Life, PFC, PTC India, Raymond, Shree Renuka Sugars, Sobha Developers, TAJ GVK Hotels, Welspun Gujarat and Yes Bank.
FIIs were net buyers of Rs2.34bn on Monday on a provisional basis. Local funds were net sellers of Rs736.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs3.66bn. On Friday, FIIs were net buyers of Rs8.80bn in the cash segment, as per the SEBI web site.
Pre Market Commentary ..
Today, we expect a lackluster start due to mixed global cues. Markets in the US barely moved though European markets managed strong gains despite resurfacing of the jitters over Greece. Asian markets are mostly in the red. The NSE Nifty is likely to face resistance between 5350 and 5400. Support will kick in at 5200 in case of a fresh fall.
For the time being, the market’s motion somehow seems to have stalled. The key indices remain stuck in a range and a major breakout is not on the cards anytime soon. Earnings are mixed. The ones that are beating estimates are seeing some upgrades but those are few and far between. One may have to wait for an across-the-board 'market upgrade' for 2-3 quarters.
Coming back to motion, the Government will face some more music in parliament today. The opposition has called for a cut-motion on two Budget measures but reports suggest the UPA is comfortably placed in terms of numbers. F&O expiry and Fed meet are the events to watch out for later this week. The broader market will continue to hog the limelight as more results pour in.
Corporate Snippets
Mahindra & Mahindra is interested in buying stakes in beleaguered South Korean sports utility vehicle manufacturer SsangYong Motor Company (SMC). (BS)
ONGC ultimate reserve accretion (including its joint ventures) in domestic fields in 2009-10 has been 87.37mn tons oil and oil equivalent gas (mtoe) against the MoU target of 76.28mtoe (114.5% achievement). (BL)
The Orissa government has asked the public sector Nalco to give its consent for floating a SPV for local area development of the Potangi bauxite project area in Koraput district. (BS)
Three public sector units- Coal India, GAIL and RCF will form a consortium to revive the closed unit of Fertilizer Corporation of India at Talcher at a cost of Rs100bn. (BS)
The US Food and Drug Administrator has approved Glenmark Pharmaceutical’s oral contraceptive hormone-based drug norethindrone. (ET)
ONGC ultimate reserve accretion (including its joint ventures) in domestic fields in 2009-10 has been 87.37mn tons oil and oil equivalent gas (mtoe) against the MoU target of 76.28mtoe (114.5% achievement). (BL)
The Orissa government has asked the public sector Nalco to give its consent for floating a SPV for local area development of the Potangi bauxite project area in Koraput district. (BS)
Three public sector units- Coal India, GAIL and RCF will form a consortium to revive the closed unit of Fertilizer Corporation of India at Talcher at a cost of Rs100bn. (BS)
The US Food and Drug Administrator has approved Glenmark Pharmaceutical’s oral contraceptive hormone-based drug norethindrone. (ET)
Monday, April 26, 2010
सेन्सेक्स (17745.28) 51.08 अंक चढ्कर, नीफ़्टी (5322.45) 18.35 अंक चढ्कर, बंद..
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European markets update: FTSE Index up 0.9%, CAC Index up 1.5% and DAX Index up 1%
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Delivery Call .. BUY AND HOLD - DLINK for week...
“D-Link has a proven track record of delivering revolutionary networking products that provide consumers with the best possible home networking experience.”
D-Link (India) Ltd. ranks among India's premier networking firms.
Globally, D-Link Corporation features among the top five networking companies.
9months dec 09 profit =5.62cr VS FY 09=4.85cr
fy 10 eps expected Rs 2.8 VS 1.6 UP 75%
MBT EXPECTING FY 11 EPS AT AROUND RS 4
Dlink corp TAIWAN holds 61%
Market outlook may positive ..
5281-5250 is the major support.
Upside target above 5400Start profit booking on all Investment and sit on CASH between 5300-5566 level.
India Infoline : Our delivery call now trading at 118,
TRADING STRONG GIVEN BUY AT 109.90
HOLD FOR NEXT TARGET 124 ++
HOLD FOR NEXT TARGET 124 ++
Sector Watch : Banking, Infra, Power, Fertilizers & Agro Foods
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Results Today
Allied Digital, AstraZeneca Pharma, Bosch, Geometric, Godrej Consumer, Indiabulls Financials, Indoco Remedies, Kiri Dyes, Kirloskar Brothers, Maruti Suzuki, Religare, Sterlite Industries, Tata Metaliks and Uco Bank.
FIIs were net buyers of Rs3.39bn on Friday on a provisional basis. Local funds were net buyers of Rs290.9mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs3.58bn. On Thursday, FIIs were net buyers of Rs17.48bn in the cash segment, as per the SEBI web site. Mutual funds were net buyers at Rs2.47bn in the cash segment on the same day.
Pre Market Commentary ...
Today, we expect the market to remain sideways and rangebound ahead of the Fed meet and F&O expiry.It was exactly the case for the Chennai Super Kings as they edged out the favourites - the Mumbai Indians in the IPL final. As far as the market is concerned, the gains made over the past one year or so have been spectacular post the global meltdown. Today promises to be yet another sweet start for the market on the back of good global tidings. The key to watch is whether the Nifty closes above 5350.
Equities worldwide have gained after Greece decided to tap into the EU-IMF loan. The initial monsoon forecast is encouraging. Earnings from a couple of big private banks have been pretty robust. On the flip side, Reliance’s results were slightly disappointing. Crude oil is above $85. The political temperature is rising and calls for tighter bank regulations have got shriller in the US.
As the MI’s loss to CSK shows, nobody is invincible. So, one has to guard against complacency. No need to take undue risk. Wait for a decisive move in key indices.
Corporate Snippets
DLF arm buys out PE stake in group firm for Rs31bn. (BL)
TCS, Infosys, Wipro and IBM vie for Bharti Airtel outsourcing operations worth over a US$1bn. (ET)
NTPC may raise US$500mn through external commercial borrowings this financial year. (BS)
EID Parry (India) says it has entered into an agreement with the promoters of GMR Industries, the agri business arm of GMR Group, to buy 51% of their stake in the company. (TOI)
ICICI Bank has brought back its special home loan offer following rival and mortgage major HDFC’s move to relaunch a similar product last week. (TOI)
Pantaloon Retail says the company will demerge three of its businesses, including that of food, into two of its subsidiaries. (TOI)
NTPC has missed its capacity addition target by almost 50% in 2009-10 by adding only 1560MW, as against a target of 3,330MW. (DNA)
TCS, Infosys, Wipro and IBM vie for Bharti Airtel outsourcing operations worth over a US$1bn. (ET)
NTPC may raise US$500mn through external commercial borrowings this financial year. (BS)
EID Parry (India) says it has entered into an agreement with the promoters of GMR Industries, the agri business arm of GMR Group, to buy 51% of their stake in the company. (TOI)
ICICI Bank has brought back its special home loan offer following rival and mortgage major HDFC’s move to relaunch a similar product last week. (TOI)
Pantaloon Retail says the company will demerge three of its businesses, including that of food, into two of its subsidiaries. (TOI)
NTPC has missed its capacity addition target by almost 50% in 2009-10 by adding only 1560MW, as against a target of 3,330MW. (DNA)
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