Friday, June 25, 2010
European markets update: FTSE Index up 0.48%, CAC Index up 0.36% and DAX Index up 0.38%
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Corporate Snippets
L&T plans to restructure JV with Mitsubishi. (BS)
HCL Corp sells 2.5% stake in HCL Tech for Rs5.8bn. (BS)
Alstom enters into JV with BHEL and NPCIL to tap Indian nuclear power market. (BS)
ING sells 3.1% stake in Kotak Bank for Rs8bn. (BS)
Jet and Godrej to ink Mumbai land deal soon. (BS)
Tata Tele plans Rs10bn capex this year. (BS)
Powergrid’s new bidding norms to hit Chinese vendors. (BS)
HCL Corp sells 2.5% stake in HCL Tech for Rs5.8bn. (BS)
Alstom enters into JV with BHEL and NPCIL to tap Indian nuclear power market. (BS)
ING sells 3.1% stake in Kotak Bank for Rs8bn. (BS)
Jet and Godrej to ink Mumbai land deal soon. (BS)
Tata Tele plans Rs10bn capex this year. (BS)
Powergrid’s new bidding norms to hit Chinese vendors. (BS)
Thursday, June 24, 2010
European markets (FTSE and CAC Index) have declined by 1% each
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European markets update: FTSE Index up 0.4%, CAC Index up 0.6% and DAX Index up 0.4%
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Long Bharti July Futs at Rs265 with SL of Rs262 for Target of Rs271
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BUY and HOLD
The FIIs were net buyers of Rs2.65bn in the cash segment on Wednesday (provisionally), according to the NSE web site. Local funds remain cautious and were net sellers of Rs8.66bn. In the F&O segment, they were net buyers at Rs9.56bn. On Tuesday, the FIIs were net buyers of Rs10.37bn in the cash segment. Mutual Funds were net sellers of Rs2.32bn on the same day.
Corporate Snippets
Tata Motors is considering raising Rs25bn via equity or FCCB to trim debt pile. (ET)
RCom may sign a 5-year deal with Africa’s Attijariwafa Bank for managing the bank’s Ethernet services. (BS)
NTPC seeks 30mmscmd more of gas for expansion of gas based power projects. (DNA)
SAIL in talks with Japan’s Kobe Steel for a technological deal. (DNA)
IOC to start processing crude oil produced from Cairn India’s Rajasthan block at its Panipat Refinery. (DNA)
Vivendi SA, Europe’s largest entertainment group denies interest to buy a 26% stake in RCom.(mint)
RCom may sign a 5-year deal with Africa’s Attijariwafa Bank for managing the bank’s Ethernet services. (BS)
NTPC seeks 30mmscmd more of gas for expansion of gas based power projects. (DNA)
SAIL in talks with Japan’s Kobe Steel for a technological deal. (DNA)
IOC to start processing crude oil produced from Cairn India’s Rajasthan block at its Panipat Refinery. (DNA)
Vivendi SA, Europe’s largest entertainment group denies interest to buy a 26% stake in RCom.(mint)
Wednesday, June 23, 2010
European Market Update: FTSE down 0.98%, DAX down 0.80% and CAC down 1.13%
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FIIs were net buyers of Rs9.76bn in the cash segment on Tuesday on a provisional basis, according to the NSE data. The local institutions were net sellers at Rs1.97bn on the same day. In the F&O segment, the foreign funds were net buyers of Rs5.99bn. On Monday, FIIs were net buyers of Rs17.99bn in the cash segment, as per SEBI data.
Corporate Snippets
Reliance Industries plans to invest more than US$3bn over the next four to five years to build capacity for its entry into the fertilizer sector. (ET)
NTPC’s decision to re-tender for the bulk supply of super critical boilers may derail its plans to expedite its 12th plan capacity addition program. (FE)
Bharti Airtel plans to spend US$100mn in the next three years on network expansion in Malawi. (ET)
L&T has been disqualified on technical grounds in NTPC's tender for 11 sets of supercritical boilers (and turbines) and the consequent re-tendering has invigorated other boiler manufacturers. (BL)
Wipro plans to hire more locals for overseas operations. (BL)
Tuesday, June 22, 2010
India Panel to consider decontrol of petrol price on June 25 - reports
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European markets update: FTSE Index down 0.6%, CAC Index down 0.7% and DAX Index down 0.3%
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Hot Intraday Call ... buy in weak market
BUY and HOLD
BPCL at 530
SL 526
Target 531,533
BUY and HOLD
HPCL at 344
SL 340
Target 345,348
BPCL at 530
SL 526
Target 531,533
BUY and HOLD
HPCL at 344
SL 340
Target 345,348
FIIs were net buyers of Rs15.64bn in the cash segment on Monday on a provisional basis, according to the NSE data. The local institutions were net sellers at Rs5.61bn on the same day. In the F&O segment, the foreign funds were net buyers of Rs13.21bn. On Friday, FIIs were net buyers of Rs6.95bn in the cash segment, as per SEBI data. Mutual Funds were net sellers at Rs459mn in the cash segment on the same day.
Corporate Snippets
Reliance Industries has become the second refinery to receive crude oil
supply through Cairn India and its joint venture partner ONGC's pipeline network. (BL)
Oil India has secured an extension for petroleum exploration licences for 10 of its 16 independently held blocks in Assam and Arunachal Pradesh. (BS)
BEML plans to invest Rs6.8bn in the next two to three years for expansion and diversification.(BS)
Tata Teleservices has suggested that the price of each MHz of excess spectrum beyond 6.2MHz in the 1800 Mhz band should be 1.67 times the 3G price set through the recent auction. (BS)
The Bajaj-Renault-Nissan alliance’s small car project continues to get sidelined as plans of production and branding is yet to take shape. (BS)
supply through Cairn India and its joint venture partner ONGC's pipeline network. (BL)
Oil India has secured an extension for petroleum exploration licences for 10 of its 16 independently held blocks in Assam and Arunachal Pradesh. (BS)
BEML plans to invest Rs6.8bn in the next two to three years for expansion and diversification.(BS)
Tata Teleservices has suggested that the price of each MHz of excess spectrum beyond 6.2MHz in the 1800 Mhz band should be 1.67 times the 3G price set through the recent auction. (BS)
The Bajaj-Renault-Nissan alliance’s small car project continues to get sidelined as plans of production and branding is yet to take shape. (BS)
Monday, June 21, 2010
Hold / BUY our delivery call INDIAINFO target 100
TRADING STRONG AT 100INDIAINFO buy given at 90-93
HOLD FOR 107,114 ++
SELL NIFTY at 5365 SL 5380 Target 5340,5320
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High risk traders Short Axis Bank June Futs at Rs1248 with SL of Rs1260 for a target of Rs 1222
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European markets update: FTSE Index up1.29%, CAC Index up 1.67% and DAX Index up 1.62%
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FIIs were net buyers of Rs7.79bn bn in the cash segment on Friday on a provisional basis, according to the NSE data. The local institutions were net sellers at nearly Rs5bn on the same day. In the F&O segment, the foreign funds were net buyers of Rs1.28bn. On Thursday, FIIs were net buyers of Rs5.44bn in the cash segment, as per SEBI data. Mutual Funds were net sellers at Rs2.93bn in the cash segment on the same day.
Corporate Snippets
Reliance Industries to foray into power; plans mega investment. (BL)
Besides getting 468 branches, ICICI Bank will also get control of 58 branches of a regional rural bank sponsored by Bank of Rajasthan. (BL)
Saudi Binladin Group is all set to buy a 20% stake in Maytas Infra. (BS)
Reliance Power has started generating power from the second unit of Rosa thermal power project. (ET)
Dr Reddy’s Laboratories is exploring the option of demerging its domestic formulations business and unlocking value. (BS)
Maruti Suzuki plans to introduce a CNG variant of its recently upgraded WagonR hatchback within the next three months. The upgraded version could cost about Rs 70,000 more. (BS)
Besides getting 468 branches, ICICI Bank will also get control of 58 branches of a regional rural bank sponsored by Bank of Rajasthan. (BL)
Saudi Binladin Group is all set to buy a 20% stake in Maytas Infra. (BS)
Reliance Power has started generating power from the second unit of Rosa thermal power project. (ET)
Dr Reddy’s Laboratories is exploring the option of demerging its domestic formulations business and unlocking value. (BS)
Maruti Suzuki plans to introduce a CNG variant of its recently upgraded WagonR hatchback within the next three months. The upgraded version could cost about Rs 70,000 more. (BS)
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