Indian stock market morning report by Keynote Capitals (November 20, 2008, Tuesday, 7.00 a.m. GMT)
Economic and Corporate Developments
- The slew of bad news continues across the world and across industries. While auto makers General Motors
and Toyota have announced plant shutdowns and output cuts, chemical manufacturer BASF has not only cut
its revenue forecast and plans to keep 80 plants idle, due to reduced orders. Swiss Life plans to cut jobs next
year, in order to save costs.
- The deputy chairman of the Planning Commission, Montek Singh Ahluwalia has said the government would
soon draw up an estimate for additional spending on infrastructure projects. He estimates that India needs
$500bn investments to upgrade its infrastructure in the five-year period ending March 2012, to sustain a 9%
GDP growth.
- Organisation for Economic Cooperation and Development (OECD) has given a negative outlook for FDI
pattern in India and said that inflows and outflow will be down by 13% and 6%, respectively, by the end of
the year.
- The rupee opened at a record low of 50.50 per USD. It had closed at 50.02/03 yesterday.
- In view of the declining international prices of crude oil, Reliance Industries has sought approval from the
government to start selling petrol and diesel again. RIL was forced to shut its petrol stations down last year,
as it could not match the prices at which PSU oil companies sold petroleum products.
- GAIL (India) plans to import one to two cargoes of liquefied natural gas (LNG) in Q1 of 2009.
- In spite of the slowdown in the automobile sector, Maruti Suzuki India expects new models to help it exceed
last year's production and sales volumes. However, the country’s largest car maker is worried about adverse
economic conditions.
- Some of the upcoming hotel projects in India are likely to be delayed or put on hold, on account of the global
economic meltdown. The industry expects that 20-30% of the room capacity to be added by 2010, to be
deferred by 2-3 years.
US markets
The US markets closed sharply down by over 5% overnight. Concerns over the fate of Citigroup and auto makers
pushed the Down Jones Industrial Average (DJIA) to its five-year low. It closed below the crucial 8,000 level. The
Citigroup stock plummeted by its greatest ever one day percentage drop, by 23.4%. Consumer prices dipped by a
record 1% in October 2008, driven by the 8.6% drop in energy costs. FOMC expects the US economy to contract
for as much as a year, and that the slowdown could persist for even longer.
Views on markets today
- After a steady opening, Indian markets declined sharply in the afternoon session yesterday. The fall was driven
by weak European markets and the negative opening of DJIA futures. FIIs were net sellers of equity worth
Rs265Cr yesterday, as per the provisional data released by BSE and NSE.
- Asian markets are weak today following the US market cues. Technology, financials and consumer electronic
stocks are the draggers.
- Back home, RBI would conduct a special 14 day repo auction of Rs567bn to meet liquidity needs of MFs. RBI
expects to make recast of realty loans tougher, rollover to attract NPA tag.
Buzzing Stocks
- SAIL and Rashtriya Ispat Nigam (RINL) are considering scaling down production after a surge in inventory.
- Maruti Suzuki has cut production at Gurgaon plant by 5%.
- Citigroup has put iits 40% stake in Polaris on the block, in talks with potential players.
- RIL plans to re-open retail fuel outlets.
- TCS has emerged as the lowest bidder at Rs1677Cr to bag E-governance deal.
- L&T Capital ups stake in Kalindee Rail Nirman to 14.76%, no plans of open offer.
- Unitech is set to sell properties to meet loan repayments and land payments over the next few months.
- Asian Paints, India’s biggest paint producer, on Wednesday said that it has temporarily closed the company’s
chemical plant in Gujarat that makes phthalic anhydride (PAN).
- HCL tech and Xerox announce strategic global alliance
We may see weak markets today with volatility. Inflation data to be released today, may only add to the
volatility.
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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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