Indian stock market morning report by Keynote Capitals (November 18, 2008, Tuesday, 7.00 a.m. GMT)
Economic and Corporate Developments
- The rupee has opened weaker at 49.34 per USD.
- Crude prices are flat at $55.09 per barrel.
- Citigroup has lowered India's economic growth rate projection to 6.8% cent from 7.2% for this fiscal
due to slowdown in consumption and investment.
- As per International Monetary Fund sources, up to 2% of the world's income, or $1.2tn, may be required to
be spent on reviving the global economy.
- With India's exports getting dented in the troubled US and European markets, the government is working on
a fiscal package for exporters and reviewing the target of $200bn for this fiscal.
- The RBI said that it is committed to ensuring adequate liquidity in all the country's financial markets.
- Fortis Healthcare is planning to invest around $500mn for expanding operations, and is already in talks
with several international as well as domestic hospitals for acquiring stakes.
- With cash reserves in excess of $500mn each, IT majors TCS, Infosys, Wipro, Satyam, HCL and Cognizant
are in a good position to tide over slowdown.
- Biocon will invest Rs100Cr in the next fiscal in enhancing its R&D to keep pace with increased orders from
multinational firms, as other global firms have cut down on their expenditure on R &D.
- GVK Power to sell a 25% stake in energy business for $500-700mn.
- Unitech has repaid Rs 200Cr loan to Indiabulls Financials.
US markets last Friday
- The US markets closed lower overnight on worries regarding financial turbulence and recessionary fears.
Citigroup's announcement of slashing 52,000 jobs (15% of its workforce) and negative GDP growth in Japan
impacted the markets. The DJIA declined sharply by 2.6% led by aluminium producer Alcoa (down by 10.8%)
and Citigroup (down by 6.6%).
- However, relief came for General Motors (GM). The US Government is considering a relief package to push
towards Federal. GM has announced a stake sale of 3% in Suzuki Motor Corp. for $232mn.
- US retailer Target Corp reported a 24% drop in the bottomline. the company announced that it considered a
temporarily suspension of its shares repurchase plans.The shares fell by 4.1%
- Jerry Yang has resigned from the CEO post of Yahoo. His resignation comes six months after Yahoo failed to
negotiate a merger with Microsoft Corp., sending Yahoo's stock into a tailspin from which it still hasn't fully
recovered.
Views on markets today
- Indian markets saw huge volatility yesterday. In the last 2 hours of the trading session, the Sensex recovered
sharply by over 300 points. However, as per the provisional data from both stock exchanges, both FIIs and
Domestic institutions were net sellers of Rs521Cr and Rs178Cr respectively.
- RBI said yesterday that it would provide enough liquidity to markets if required.
- Tracking the US markets cues, major Asian markets opened lower this morning. The drop was led by exporter
and financial stocks.
- A few stocks may see some action today incl. Unitech which has sounded out PEs to sell hotel properties.
- GVK Power plans to sell 25% stake in its energy arm to raise around $500-700mn.
- Holcim to rethink India expansion as demand slowdown.
- UTV to shut Delhi office; 60 employees will have to quit.
- Infosys eyes $600-700mn acquisition in Europe, Japan.
- Bhilwara Spinners open offer @ Rs15/share.
- We may see a weak opening today; volatility may continue.
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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.
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