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Daily Newsletter: 13th December, 2010

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Daily Newsletter: 13th December, 2010

  1. 1. Volume: 1 | Issue: 417| December 13, 2010 COMMENTARY INDIAN MARKET 10-Dec 9-Dec % ChangeINDIA BSE Sensex 19,509 19,242 1.39A day after suffering a heavy loss, the Indian market managed to stage a spirited recovery on the NSE Nifty 5,857 5,767 1.57back of sustained strength in pivotal index heavyweights, as investors welcomed a better-than- BSE Midcap 7,406 7,259 2.03expected IIP data for October. Also, the market was primed for a technical bounce back after five BSE Smallcap 8,951 8,745 2.36straight days of losses.The BSE Sensex closed above 19,500 and the NSE Nifty ended above the 5850 Nifty Junior 11,763 11,620 1.23mark, recouping half of the previous sessions big losses.The Sensex closed at 19,508, up 266 points CNX Midcap 8,512 8,376 1.63or 1.4% from the previous close. The NSE Nifty rose 90 points or 1.6% to close at 5,857 .In thebroader market, the BSE Small-Cap index and the BSE Mid-Cap index were up 2.3% and2%, respectively. GLOBAL MARKETS 10-Dec 9-Dec % Change Dow Jones Ind (USA) 11,410 11,370 0.35GLOBAL MARKETS Nasdaq Composite(USA) 2,637 2,617 0.78US markets ended the week on a positive note .The S&P 500 closed to a fresh two-year high and the S&P 500 (USA) 1,240 1,233 0.57Nasdaq Composite to its best close in three years.Even the economic data was on positive note.The FTSE 100 (UK) 5,813 5,808 0.09consumer survey data was at its best in the past six months.Additionallythe October trade deficit DAX (Germany) 7,006 6,964 0.60came in at $38.7 billion, which is less than the $44.5 billion deficit that had been widely expected to Nikkei 225 (Tokyo) 10,212 10,286 (0.72)follow the $44.6 billion deficit recorded for the prior month, although the combination of higher Hang Seng (Hong Kong) 23,162 23,172 (0.04)exports and lower imports should provide a boost to fourth quarter GDP. Shanghai Comp (China) 2,841 2,811 1.07The Dow gained 0.35% closing at 11,410 and the S&P 500 closed up by 0.57% at 1,240 , while the KOSPI (South Korea) 1,986 1,989 (0.15)Nasdaq ended 0.78% higher at 2637. STI (Singapore) 3,185 3,210 (0.78) MSCI Emerging Market 423 423 0.00The Asian markets have opened up on strong note.Hang Seng up by 1.30%,Shanghai up 1.30%,. MSCI Frontier Market 584 583 0.09 CORPORATE/ ECONOMY NEWS BOND MARKETS 10-Dec 9-Dec Change Canara Bank has again raised the domestic term deposit rates across various maturities.This is the 10yr G-Sec Yield 8.11 8.17 (0.06) second time during the month that the Bank has increased its deposit rates. 1yr G-Sec Yield 7.27 7.27 0.00 The Bank had announced a 50 basis points increase across various maturity slabs with effect from LIBOR (6m) 0.46 0.45 0.01 December three. LIBOR (1m) 0.25 0.26 (0.01) Interbank Call rate 6.6 6.5 0.08 State-run Bank of Baroda said on Saturday it will raise its base rate and benchmark prime lending rate with effect from December 13. The banks will raise their base rates by 50 basis points to 9 per cent and benchmark prime lending rate by 75 basis points to 13.25 per cent, BSE Turnover Rs Cr(000) Sensex 20200 5.0 Emami Paper Mills, a part of the Kolkata-based Emami Group , has earmarked an over Rs 2,000 20000 crore investment for capacity expansion and a foray into the pulp and writing paper segment. 4.0 19800 19600 3.0 Drug maker Elder Pharmaceuticals said that it is eying a jump of nearly 60 per cent in its revenues from Bulgaria next fiscal on the back of a slew of product launches. The company, which recently 19400 2.0 acquired vitamins maker NeutraHealth for Rs 90 crore, is also looking to bring products of the UK- 19200 based firm to India. 1.0 19000 State-owned Hindustan Copper Ltd (HCL) is planning to develop a new mine with about 50 18800 0.0 million tonnes of ore reserves in Jharkhand as part of its strategy to ramp up capacity to 12.5 mn 6-Dec 7-Dec 8-Dec 9-Dec 10-Dec tonnes, from 3.5 mn tonnes, by 2017. Diversified business group ITC Ltd said it will resume production of cigarettes only after receiving a formal government notification on what pictorial warning should be printed on packs. NSE Turnover Rs Cr(000) Nifty 6050 20 Central security agencies are likely to question some officials of market regulator Stock Exchange 6000 Board of India (Sebi) and a few stock market operators on leakage of a classified report purportedly 5950 15 prepared by the Intelligence Bureau, which led to fall in share prices of many small and mid-cap 5900 companies. 5850 10 5800 NPTC will soon approach the government for reconsideration of the decision to scrap the power 5750 5 producers 600-MW Loharinag Pala hydro-power project in Uttarakhand. 5700 5650 0 Enterprise software and services provider Ramco Systems said it would make a foray into 6-Dec 7-Dec 8-Dec 9-Dec 10-Dec Bangladesh with a view to tap business from the government, power and banking sector of the neighbouring country. `Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for publicdistribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtainwritten consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associatedwith it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own investigations and seek professional advice forinvestment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or due to any inadvertent error in the information containedin this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making any investment decision. The risk of any lossesoccurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not an indication offuture performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investmentdecisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms andconditions of the use of this service or discontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall
  2. 2. Volume: 1 | Issue: 417| December 13, 2010 CORPORATE NEWS SECTOR 10-Dec 9-Dec % Change Kalpataru Power Transmission Ltd has bagged three orders worth Rs 600 crore — two in India Consumer Durables 5,948 5,763 3.20 and one in Congo. With the receipt of these orders, the company’s total order book stands at Rs Bankex 13,003 12,645 2.83 5,300 crore. Oil&Gas 10,426 10,171 2.51 Metal 15,991 15,741 1.59 The country’s biggest iron ore miner NMDC inked a pact with Russia’s Severstal to set up a five- PSU 9,223 9,094 1.42 million tonnes steel plant in Karnataka. Realty 2,742 2,705 1.37 FMCG 3,560 3,513 1.35 Public sector lender IDBI Bank has secured a $100-million ECA (export credit agency) line of credit Power 2,875 2,840 1.25 from Germany’s DZ Bank. Healthcare 6,499 6,447 0.81 Engineering and construction firm Punj Lloyd said that it has secured a Rs 1,292 crore work order Capital Goods 15,054 14,961 0.62 from Thailands state-run PTT Public Company for construction of a gas pipeline, besides a separate IT 6,262 6,234 0.44 project worth Rs 169 crore from Indian Oil Corporation. Auto 9,922 9,895 0.27 Teck 3,736 3,730 0.17 The construction of the six-MTPA steel plant in Orissa by Tata Steel is likely to begin from January 2011. IT major Wipro Infotech that said it has bagged a 5-year IT outsourcing contract by Vasan Eye Care, one of the countrys largest network of eye care centres. GAIL India has proposed to set up 5,500 km of gas connectivity over the next two-three years BSE Upper Circuit Breakers investing $4 billion. Company Name 10-Dec 9-Dec % Change Coral Lab 97.8 81.5 20.00 Movie producer and distributor K Sera Sera Production said that it has bought 5 per cent stake in DIL 393.7 328.1 20.00 gold miner Citi Gold Corp Ltd through its Australian subsidiary.Citi Gold has gold resource of 10 Henkel 36.3 33.0 10.00 million ounce or 310 tonnes. 0 KDDL 99.8 95.1 5.00 Celebrity Fashions 20.0 19.1 5.00 IT major HCL Technologies said that it has signed a multi-year partnership with Lojas Renner, the second largest fashion retailer in Brazil, for managing its Oracle systems. HPCL-Mittal Energy Limited (HMEL) said that the ambitious 9-million tonnes Bathinda oil refinery would attract an investment of Rs 1,300 crore in Polypropylene based downstream industry in the state. BSE Lower Circuit Breakers Public sector undertaking NTPC on Saturday signed a power purchase agreement with Punjab Company Name 10-Dec 9-Dec % Change State Power Corporation Ltd (PSPCL) for 2,640 MW coal-based thermal power project at Spectacle Inds 93.2 103.5 (10.00) Gidderbaha for Rs 15,000 crore. GSS America 184.2 204.65 (10.00) SVR Resources 135.3 150.3 (10.00) OnMobile Global, a provider of telecom value added services has entered into a strategic venture with Madison World, a diversified communications group, to set up a mobile marketing company. Milfield Industries 185.6 206.2 (10.00) Centrum Capital 1731.0 1822.2 (5.00) Shreyas Shipping & Logistics Limited, a multi-modal, integrated logistics & shipping solutions provider, announced that the company through its wholly owned subsidiary Shreyas Relay Systems Limited (SRS) has signed a Memorandum of Understanding with Tata Motors for acquisition of 50 trailers. Company plans to invest Rs. 170mn at regular intervals for acquiring 50 trailers. The Company mentioned that this is a part of plan to acquire 100 such trailers soon to emerge as India’s preferred integrated logistics solutions provider. Venus Remedies Ltd has successfully completed Phase III clinical trials of a novel aminoglycoside molecule, Etimicin sulphate. Venus had in licensed this molecule in 2007 from an innovator company in China. Venus owns the exclusive manufacturing and marketing rights for this product in India. COMMODITY / CURRENCY NEWS COMMODITY 10-Dec 9-Dec % Change Crude Oil (USD/bbl) 87.4 88.8 (1.58) Gold (Rs/10gm) 20,497.0 20,625.0 (0.62)Crude oil closeddown by 1.58% at $87.4 per barrel. Gold closed down by 0.62% at Rs 20,497 and Silver (Rs/kg) 43,480.0 43,673.0 (0.44)Silver closed down by 0.44 % at Rs. 43,480.The Indian Rupee closed higher against the dollar at 45.05 as the Indian equity benchmarks ended on CURRENCY 10-Dec 9-Dec % Changea positive note. INR / USD 45.05 45.21 (0.35) USD / Euro 1.32 1.31 0.76 Yen / USD 83.90 83.69 0.25Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public distribution and has beenfurnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtain written consent from FSWA. While reasonable care tocompile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associated with it. The document is prepared only for your information and is not sufficient formaking an investment decision. You should rely on your own investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the useof this document or due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making anyinvestment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not anindication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investment decisions made by you.This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this service ordiscontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification, or terminationof the information and services provided herein.
  3. 3. Volume: 1 | Issue: 417| December 13, 2010 ECONOMY / POLICY NEWS FUTURES PREMIUM/DISC Cash Futures P/D% The Finance Ministry indicated that it will not intervene in the foreign exchange Sterlite Tech 68.4 69.2 1.17 market even if capital inflows into the country touch $50 billion during the 2010- PTC 110.5 111.75 1.13 11 fiscal. Adani Ent 635.7 642.7 1.11 Sri Ram Transport 717.5 725.4 1.10 Foreign direct investment flows (FDI) into developing countries including India, is SREI Infra 96.0 97.05 1.09 expected to recover over the next couple of years and is projected to increase by Patel Eng 305.7 308.95 1.08 17 per cent in 2010, a World Bank report has said. ONGC 1322.0 1299.6 (1.69) Core Project 264.3 262.3 (0.74) ndustrial output in October rose 10.8 per cent on the back of healthy performance Jindalsaw 183.9 182.7 (0.68) of automobile, electronic goods and power sectors. ACC 1075.2 1068.0 (0.67) Exim Bank, the leading export finance institution to promote exports, would Idea 69.8 69.3 (0.65) actively provide finance for R&D activity by companies. Mundra Port 146.6 145.9 (0.51) The Prime Ministers economic panel has said the economy is growing at a rate INSTITUTIONAL ACTIVITY (Rs Cr) 26-Nov 25-Nov YTD that is above expectations and it is likely to expand by about 9 per cent this FII Cash Net 125 (532) 127,486 fiscal, higher than the earlier estimate of 8.5 per cent. FII Stock Futures (250) 535 (14,489) FII Index Futures (452) (678) (16,588) Mutual Fund 163 235 (29,863) VALUATIONS P/E P/B DIV YLD BSE 22.5 3.7 1.1 NSE 23.0 3.7 1.1 BSE500 Mcap/GDP Ratio 0.63MOVERS & SHAKERS TOP 5 FRONTLINE GAINERS TOP 5 MIDCAP GAINERS TOP 5 SMALLCAP GAINERSName Rs % Name Rs % Name Rs %ICICI Bank 1117.55 5.71 KS Oils 36.75 20.29 Technofab Engineering 166.2 20Jaiprakash Asso 104.7 4.65 Bayer Crop 892.55 11.69 Surana Inds 281 19.57RIL 1023.7 4 Ruchi Soya 91.15 9.62 Sahara One 149.5 15.04Wipro 450 3 Core Projects 264.25 9.04 ITD Cem India 233 13.66Reliance Comm 126.15 2.98 India Infoline 83.25 8.89 BRAND HOUSE 29.8 13.31TOP 5 FRONTLINE LOSERS TOP 5 MIDCAP LOSERS TOP 5 SMALLCAP LOSERSName Rs % Name Rs % Name Rs %Bajaj Auto 1492.45 -2.65 MVL 18.4 -9.8 GSS America 184.2 -9.99Bharti Airtel 330.9 -2.27 Money Matters 205.85 -4.98 Midfield Industries 185.55 -9.99Tata Motors 1248.1 -1.9 Shree Ashtavina 15.95 -4.78 SVC RES 135.3 -9.98HDFC Bank 2220.4 -0.82 Arss Infra Proj 725.6 -4.25 Twilight Litaka 93.55 -9.96Cipla 347.8 0.78 Spicejet 72.85 -4.21 Comfort Intech 5.97 -9.95 BULK DEALSSCRIPT NAME CLIENT NAME TYPE QTY % PRICENSESEL Manufacturing Company Trans Financial Resources BUY 1.25% 27.7Delta Corp Limited Crosseas Capital Services BUY 1.55% 120.3Hindustan Org Chem Ltd Jmp Securities BUY 1.54% 56.5Subex Limited Suresh Kanmal Jajoo SELL 1.33% 82.0BS TransComm Limited Crosseas Capital Services Pvt. Ltd. SELL 0.88% 185.5BSEABG Shipyard ABG International BUY 1.68% 380Camlin Kent Resorts BUY 1.23% 43.0Midfield Industries Anandita Securities BUY 1.05% 430.8XL Telecom Goldman Sachs Investments SELL 1.20% 31.05RCL FOODS Padma V SELL 1.35% 38.78 Disclaimer: This document is compiled by Epitome Global Services Private Limited exclusively for Fullerton Securities & Wealth Advisors Ltd (FSWA) customers. This document is not for public distribution and has been furnished to you solely for your information and you are notified that you should not further copy, modify, use or distribute the information in any way unless you obtain written consent from FSWA. While reasonable care to compile the document but the accuracy and completeness cannot be guaranteed either by FSWA or any other person or entity associated with it. The document is prepared only for your information and is not sufficient for making an investment decision. You should rely on your own investigations and seek professional advice for investment decision. Neither FSWA nor any person connected with it, accepts any liability either arising from the use of this document or due to any inadvertent error in the information contained in this document. Financial investments carry risks including principal risk and therefore you should seek professional advice prior to making any investment decision. The risk of any losses occurring by use of this report or document will be entirely yours. The investments covered in this report are not guaranteed. Also past performance of an investment or fund is not an indication of future performance. FSWA, its affiliates, or associates, or any regulatory or other body or entity assumes no liability or responsibility for investment results or losses arising out of investment decisions made by you. This document is not to be considered as an offer to sell or a solicitation to buy any security or financial product. FSWA reserves the right to modify or alter the terms and conditions of the use of this service or discontinue, temporarily or permanently, the information and services provided (or any part thereof) at any time, with or without prior notice and FSWA shall not be liable to you for any suspension, modification, or termination of the information and services provided herein.

Catch the latest Equity research reports from Fullerton Securities at http://www.fullertonsecurities.co.in/equity/markets/research_reports.aspx

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