Indian stock market morning report by Keynote Capitals (November 14, 2008, Friday, 7.00 a.m. GMT)
Economic and Corporate Developments
- The rupee was at 49.22/23 per USD in early trades this morning, compared with Wednesday's close of
49.30/32, when it posted its biggest single-day fall (2.4%) in over 12 years.
- Inflation, as measured by the WPI, fell sharply to 8.98% for the week ended November 1, from 10.72% in
the previous week. Inflation is back in single digit after 5 months, which may allow RBI to cut rates.
- Bond yields fell sharply this morning following the announcement of the drop in inflation to 8.98%, its lowest
since late May, in expectation that it would lead to further rate cuts by the RBI. The benchmark 10-year
government bond yield was at 7.48%, compared to Wednesday's close of 7.60%.
- Crude oil is trading at $58.31/barrel.
- Reliance Industries will not enjoy pricing freedom on KG gas. Approved price of $4.20 per mn British
thermal unit is final selling price for the gas.
- Gujarat State Petroleum Corporation has bagged onshore block in Indonesia in collaboration with Essar.
- The slowdown in the automobile sector has started impacting auto ancillaries too. Rico Auto Industries has
cut down its FY09 revenue forecast from 20-30% revenue growth, to 6-7%m due to the slowdown in the
truck industry and off-load vehicles industry in the US.
- SKF India has entered into a deal with Suzlon Energy for supplying bearings for the latter’s wind turbines.
However it has decided to postpone the Rs150Cr new manufacturing facility being constructed at Haridwar
for automotive bearings.
- Wockhardt has launched Midazolam injection, used for treating acute insomnia and anxiety, in the US
market, after getting US FDA approval. The market size for Midazolam is $56mn in the US.
- Dishman Pharma is going slow on its plans to set up two special economic zones (SEZs) due to the
financial market turmoil.
US markets
The US markets ended up 6.7% on bargain hunting in energy shares and optimistic news from the retail sector.
Auto and technology sector did not participate in the surging session with major names down on the day. In the
tech sector, Intel cut its 4Q revenue forecast, citing softer demand and now expects revenue to range from $8.7bn
to $9.3bn. Wal-Mart stated it expects earnings for 4Q to range from $1.03 to $1.07 per share, and from $3.42 to
$3.46 per share for FY09. However, both ranges fell below Wall Street's expectations, causing investors to look
past better-than-expected results for the latest quarter. Gains were broad-based as all 10 economic sectors posted
gains. Even struggling financial sector finished with an impressive advance of 8.1%. The financial sector remains
the worst performer this year, down more than 54% year-to-date. Weekly jobless claims continue to indicate a soft
labor market and suggest non-farm payrolls will decline for an 11th consecutive month. Claims for the week ended
Nov. 8 totaled 516,000, which is a 7-year high. Claims were up 32,000 from the prior week.
Views on markets today
- Asian stocks are up today after the major overnight rally in the US markets and a weak Yen. Export related
stocks led the rally in the Asian markets, which however seems to be a short recovery after three weak trading
sessions.
- Chinese industrial growth has slowed to 2001 lows.
- Back home, Indian markets were weak on Wednesday backed by decline in the banks and real estate stocks.
- NSE witnessed a jump of over 15% in the volumes while volumes on BSE were weak. NSE also saw a much
better proportion of deliveralble volumes to total traded volumes of top 10 stocks vis-a-vis BSE.
- Indian markets are likely to witness a rally today backed by positive news from economic front, viz, the fall in
inflation. The inflation rate came down sharply to 8.98% which can give relief to RBI and the government. We
may see further rate cuts from RBI.
- Another good news is the falling crude prices. Crude hit the $55/barrel levels yesterday.
- Stocks in news: NTT DoCoMo has put an open offer for TTML at Rs20.7/share.
- As per media report, Ispat Industries defaulted on loan repayment.
- GMR Infrastructure drop plans to acquire South African firm and will sell back the 10% stake acquired for
$30mn. Jet Airways denies stake sale rumors to Temasek for Rs 250Cr. SKF India ties up with Suzlon for 5 years
pact of Euro303mn to provide shaft and bearings.
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Indian stock market daily morning report (September 02, 2010, Thursday)
Indian markets ended positive to a one month high yesterday on fund buying across the sector after firm global markets, strong auto sales, rising exports and expansion in manufacturing sector. Positive European markets also aggravated buying in the markets. TCS gained ~1.5% as its UK subsidiary Diligenta bagged contracts worth 250mn pounds. All sectoral indices closed positive with metal, real estate, IT and oil & gas led the market to close positive. Metals stocks rallied as a rebound in manufacturing in China propelled base metals.
Indian stock market and companies daily report (September 02, 2010, Thursday)
The market extended gains in morning trade and turned range bound in mid-morning trade. Strong global cues pushed the market sharply higher in the second half of trade. The market spurted to the day's high in mid-afternoon trade and extended gains in late trade as European stocks and US index futures rose. Strong auto sales, expansion in the manufacturing sector in August 2010 and resumption of buying by foreign funds underpinned sentiments. All the sectoral indices on the BSE were in green and the market breadth was strong. The Sensex and Nifty closed up by 1.3% each. BSE mid-cap and the small-cap indices closed up by 1.7% and 1.8%, respectively. Among the front liners, RCOM, Hindalco Industries, Sterlite Industries, Bharti Airtel and Tata Steel gained 3–5%, while Hero Honda, HDFC and ONGC lost 0–2%. Among mid caps, STC, FDC, United Breweries, Dredging Corp. and State Bank of Mysore gained 10–14%, while Allcargo Global, Shree Global Tradefin, Jain Irrigation, Fresenius Kabi Oncology and GSK Consumer lost 2–4%.
Indian stock market daily closing report (September 02, 2010)
The markets traded within a tight range after the positive momentum witnessed for two days and ended with modest gains. All the major sectoral indices ended on a very flat note. Sugar counters witnessed a significant spike on decontrol reports. The Sensex closed at 18,238 up 34 points and the Nifty was at 5,486 up 14 points after making an intra-day high of 5,513. The Mid cap and Small cap indices were up by 0.78% and 1.11% respectively. The breadth of the market was positive and the total turnover recorded at Rs.1,02,680 Cr. The Sept future ended with 3 points discount
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Godrej Properties IPO review and analysis by Angel Broking, 9 December 2009
Godrej Properties Limited (GPL) intends to develop its projects through joint development agreements with land owners. Under this asset-light model, GPL will enter into revenue, profit or area-sharing agreements with land owners, instead of an outright purchase of the land. This model avoids direct land dealings for GPL and the locking-up of extensive capital in land. Around 80% of GPL's existing land bank will be executed through joint developments with partners. The Godrej brand name has been associated with quality and strong corporate governance. Both of its existing listed entities, Godrej Consumer Products and Godrej Industries have given CAGR Returns of 48% and 77%, respectively, to investors since 2001. We believe that GPL could leverage its parentage brand (with respect to access to the land at Vikhroli and a strong customer preference towards it), assuring a timely delivery of execution. More than 50% of GPL's existing land bank is exposed towards township projects and in one location (Ahmedabad), which will be executed over the next ten years. Any delay in this execution or a fall in property prices in Ahmedabad will impact our NAV estimates, as 50% of our NAV is derived from this project.
JSW Energy Ltd IPO review and analysis by Nirmal Bang, 8 December 2009
JSW Energy Ltd. (JSWEL) is a power project development company, which is developing, and will operate and maintain, power projects in India. The company has two thermal power projects under operation, with a combined installed capacity of 860 MW. JSWEL is a part of the JSW Group, a leading business group in India. JSW Group has a presence in high growth sector like Steel, Energy, Aluminium, Cement, Infrastructure and Logistics. Post IPO holding of Promoter and Promoter Group would be 78.12%
JSW Energy IPO review and analysis by Angel Broking, 7 December 2009
JSW Energy (JSWEL) currently has operational capacity of 995MW and is in the process of executing projects with capacity of 2,655MW. In addition, the company has 7,740MW power generation projects at an early stage of development. A major portion (2,145MW) of JSWEL’s upcoming capacities is expected to be operational by FY2011E thereby providing near-term visibility. Out of the plants under construction, the company expects to commission 570MW by end FY2010E, while another 1,575MW is expected to get operational in FY2011E. Thus, a robust portfolio and near-term Revenue visibility is a major positive for the company.
| | Indian News |
Reliance Broadcast Network To Raise Over Rs. 400 Cr., 2 September 2010
Tata Power-Origin Energy-Supraco Consortium Wins Geothermal Bid In Indonesia, 2 September 2010
Cinemax Launches Three-screen Multiplex, 2 September 2010
Koutons Retail To Consider Fund Raising, 2 September 2010
Zylog Systems To Raise Up To Rs.250 Cr, 2 September 2010
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