FIIs were net sellers in the cash segment on Monday at Rs9.35bn on a provisional basis while the local funds were net buyers of Rs3.81bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers to the tune of Rs4.05bn. As per SEBI figures, the FIIs were net sellers of Rs16.29bn in the cash segment on Friday.
Tuesday, February 9, 2010
Corporate Snippets
BHEL has secured Rs10bn contract from Punatsangchhu Hydroelectric Project Authority. (FE)
GMR Infrastructure plans to raise over Rs15bn via private equity route. (ET)
Mahindra & Mahindra and the UK’s BAE Systems to inject US$21.25mn over a three-year period into their joint venture company, Defence Land Systems India. (BS)
Pantaloon Retail plans to spin off at least five of its brands and merge them with Capital Foods. (ET)
Nagarjuna Construction secured five orders aggregating Rs5.8bn. (BL)
Jet Airways plans to raise US$200mn in the coming 3-4 weeks via QIP route. (FE)
Areva T&D India bagged two projects worth Rs2.8bn from Power Grid Corporation of India for installation of sub-stations in Punjab and Haryana. (BL)
Pre Market Commentary ..
Today we expect a flat opening due to indecisive global cues. The Dow Jones has closed below 10,000. Stocks in Europe finished higher. Asia is pretty much mixed.
We now have statistical evidence to substantiate that the green shoots in India have blossomed further. Apart from the subdued credit growth and tepid tax receipts (partly owing to fiscal stimulus) most other economic indicators have improved substantially.
The ball is now in the Finance Minister’s court. In that context, Feb. 26 will be a crucial day. Pranab Mukherjee is likely to take a calibrated approach to unwinding the fiscal stimulus. He has his task cut out on the fiscal front. So, we expect him to articulate strategy to return to the path of fiscal prudence. Any deviation from this will be disappointing.
Derivative indicators are pointing to further weakness. Technically, 4700 could give near-term support to the Nifty while resistance might kick in at 4800. The 200 DMA of 4640 will continue to be a crucial level to watch.
Monday, February 8, 2010
FMCG : On Move DABUR upby 3%
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Sector Watch :Shipping ,Hotel & IT Stocks
Due to Strong Dollar
Expect Fire work in
Shipping ,Hotel & IT Stocks
Corporate Snippets ...
± HUL may hike prices by mid-year. (TOI)
± Shree Renuka plans to put in final bid for Brazil’s Equipav SA Acucar E Alcool. (ET)
± McNally Bharat bags Rs 57-cr orders from Hindalco. (BS)
± Istithmar PJSC, Dubai sold entire 13.05% stake in SpiceJet. Reliance Mutual, Birla Mutual and DSP BlackRock — and a FII together bought the offloaded stake. (BS)
± TPG looks to acquire a majority stake in Vishal Retail for Rs2.5bn. (BS)
± Dishman Pharma receives USFDA nod for producing Active Pharmaceutical Ingredients (API) at its Naroda facility. (BS)
± ICICI Prudential investment arm set to buy 40% in residential project of the Ansal API group in Ghaziabad. (BS)
± BPCL plans to convert 60 ‘In&Out’ outlets into profit making ventures such as food courts and coffee shops by the next fiscal. (ET)
± Inox Leisure purchased an additional 7.21% stake in Fame India through a block deal for Rs127.7mn. (ET)
± Kingfisher Airlines hires Seabury Aviation & Aerospace, US to advise on its restructure plans. (BS)
± Reliance Media objects to Inox’s Fame acquisition at Rs 44 a share. (ET)
± Electrotherm India is looking at exporting its Yobykes to developed countries like the US and in Europe. (BS)
± Graphite India has lined up investments of Rs4bn over the next one year for capacity expansions and setting up a thermal power plant in Durgapur, West Bengal. (DNA)
± Eveready mulls Rs1.5bn acquisition of a FMCG firm. (FE)
Today Listing: Jubilant FoodWorks Ltd.
Today Listing: Jubilant FoodWorks Ltd.
BSE Code: 533155 (F.V. : Rs. 10/-)
GTL plans to raise Rs14bn through non-convertible debentures to invest in green energy products and solutions for telecom infrastructure. (ET)
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FIIs were net sellers in the cash segment on Thursday at Rs1.55bn on a provisional basis while the local funds were net buyers of Rs2.41bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers to the tune of Rs1.57bn. As per SEBI figures, the FIIs were net buyers of Rs4.86bn in the cash segment on Wednesday. Mutual Funds were net buyers of just Rs62mn in the cash segment on the same day.
Saturday, February 6, 2010
Just In ...
• Govt tightens sugar stock holding limit
• Goldman CEO, co-execs, get $9 mln each in stock bonuses
• CORRECTED - Govt tightens sugar stock holding limit
• Europe debt woes leap to top of G7 agenda
• PM calls for export ban on essential items
• Ill. gov might want to run from his running mate
• Market strength tempts India back into M&A fray
• Japan tells G7 Tokyo focusing on China
• Mid-Atlantic shuts down ahead of huge snow warning
HOLD INDIAINDO for target, Hold for NEXT WEEK
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Join profit making community...Today!"
Sector Avoid: Metal, Auto, Realty, Commodities & Banking,
NSE &Sensex opens
strong on
special trading session
Pre Market Commentary ...
Today,brace for a gap-down opening as world markets are in a tizzy amid escalating concerns over the mounting debt problems in a few European nations. Whether the market manages to rebound remains to be seen as FIIs don’t seem to be in a mood to reverse their selling binge, at least for now.
Yesterday only we had warned against getting carried away with Wednesday’s rally. Unfortunately for the bulls, that prediction turned out to be a prophetic one. For those who heeded our advice though might have done better than most. Risk aversion has risen of late amid a spate of fresh worries from China’s tightening, to new restrictions for US banks to sovereign debt concerns in Europe.
For India, the big concern remains in the form of inflation and its ramifications on the stimulus-fueled recovery. The big event for India will be the Union Budget. Expectations are already building up. The Finance Minister has its task cut out with a yawning fiscal deficit staring him in the face. The 3G auction fiasco coupled with the lukewarm response to the NTPC FPO are only adding to his troubles. Some key support levels could melt amid the world-wide crash. Nifty futures trading in Singapore are down over 2% as of now. The Nifty could find support at 4740-4750. If there is no improvement in Asian markets, it could even fall below 4700. If the market rebounds, which could be either today or next week, the Nifty is likely to meet resistance at around 4900.
Hindustan Zinc cut zinc prices by Rs9,600 a tonne. (DNA)
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