Indian stock market morning report by Keynote Capitals (June 30, 2009, tuesday, 7.00 a.m. GMT)
Views on markets today
- Indian markets closed flat yesterday amid huge volatility. Investors, wary ahead of the Union Budget next Monday, booked gains by end of the day. Consumer durables, real estate and metal stocks witnessed investor interest, while IT and auto stocks declined.
- Market breadth was positive at around 1.7x.
- FIIs and domestic institutions yesterday bought equities worth Rs292Cr and Rs144Cr respectively. Trading volumes and deliverable volumes on top 10 traded stocks improved on both exchanges. SBI witnessed strong volumes on the NSE and L&T on the BSE.
- Asian markets have opened positive this positive, on strong US markets overnight. Resource and energy stocks rallied on surging crude prices. Investors are optimistic about the upcoming US economic data.
- We expect a strong opening for the Indian markets today, following global cues. FIIs have been buying over the last two sessions, which is a positive. However, we expect some profit taking at higher levels, as investors may remain cautious ahead of the budget.
Economic and Corporate Developments
- The rupee (INR) rose to a 2-week high this morning to 47.86/87 per USD, compared with the previous close of 48.10/11.
- NYMEX Crude Oil (CL) is currently trading at $72.84 per barrel.
Buzzing stocks
- Companies that have announced fund raising plans: GMR Infra, HCC, Birla Power, HDIL, United Spirits
- Shaw Wallace & Company intends to sell 10.28mn shares held by it in United Spirits, in the open market.
- PVR is in talks to acquire DT Cinemas, a wholly-owned subsidiary of DLF Group.
- S Kumars is acquiring Hartmarx, the men's largest formal wear clothing company in US for $119mn.
- L&T has bagged six orders worth Rs12.30bn from electrical projects in the domestic market.
- Areva T&D has bagged an order from Hindalco for erecting 440KV substations at its plants in Singrauli (Madhya Pradesh) and Sambalpur (Orissa).
Results to be announced today
Hindalco Inds, Bombay Dyeing, Financial Technologies, EIH, Adlabs Films
US markets
The US markets overnight ended positive 1.1% although there were no real triggers. All 10 major sectors ended in green. Super swindler Bernie Madoff received the maximum sentence of 150 years in prison. Apple was a leader in the tech stocks but surrendered its gains despite news that CEO Steve Jobs will return to work. Apple CEO, Steve Jobs returned to his job as CEO after a liver transplant sidelined the originator and public face of the computer giant. The CBOE volatility index also dropped.
Economic data
June Consumer confidence data to be released today
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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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