Daily News Roundup - Jan 15 2010

Wipro is set to launch a sponsored ADR offering that could possibly see the promoters and promoter group led by Azim Premji offloading some of their stake in the company. (ET)
BHEL has bagged Rs2bn order from PowerGrid for supplying insulators for setting up transmission lines. (ET)
Reliance Entertainment is likely to put in a bid for the iconic film studio Metro-Goldwyn-Mayer or MGM. (ET)
BPCL halts oil block buys, stresses on production. (FE)
Era Infra bags Rs16.59cr orders from NHAI. (FE)
Punj Llyod bags Rs5.74bn project in Thailand for oil facility. (FE)
NTPC to add 6,000MW each year in the 12th plan. (BS)
ITC’s stake in Hotel Leela rises to 7.37%. (BS)
Essar Group is indirectly transferring part of its Indian holding in Vodafone Essar to its overseas investment company. (ET)
Reliance Retail and partner Pearle Europe plan to open up to 700 stores of their eyewear retail chain 'Vision Express' across India in the next seven to eight years. (ET)
Government to divest 10% stake in Engineers India. (ET)
Holcim plans to invest US$1bn in setting up 2-3 greenfield cement making plants in the country in the next five years. (ET)
Promoters of Ansal Properties are going to buy out the public-listed companys education business subsidiary Knowledge Tree Infrastructure KTIL after hiving it off into a separate entity. (ET)
PowerGrid gets board nod for Nepal project. (ET)
Max India to issue Rs1.73bn warrants. (BS)
IDBI Bank has approached the Government to rejig capital structure. (BS)
Usha Martin to raise Rs5bn via QIP. (BS)
Tantia Constructions to dilute 10% equity. (BS)
Reliance Infratel IPO gets Sebi's nod. (FE)
INOX to buy 44% stake in Fame India. (BS)
Government to allow only foreign GSM companies to bid for 3G play. (ET)
Inflation rose the most in more than 12 months to 7.31% from a year earlier. (ET)
India’s vegetable oil imports rose by 5.61% in December
2009. (ET)
Oil ministry rules out hike in auto and domestic fuel prices. (FE)
Finance ministry is unwilling to pay the entire Rs317bn demanded as compensation by the petroleum ministry on behalf of the state-owned oil companies. (ET)

Steady start likely

Success is steady progress toward one's personal goals.

Two straight days of gains means that the NSE Nifty is yet again staring at 5300. Global cues are supportive though not by a great deal. A positive start is what we are looking for. A slew of big results are lined up and could swing the sentiment either way though we don’t see any nasty surprise.

It remains to be seen whether the Nifty manages to close above 5300, which in recent past has proved to be a tough barrier to break. If it does that it could head for 5350-5400 in the near term. On the downside support is at 5200. The bias remains cautiously optimistic but volatility will persist.

Inflation is a big worry and could play spoilsport. Though a CRR hike has already been discounted there are fears that the central bank may also turn hawkish as far as policy rates are concerned. In the long run, the Government needs to overcome supply side constraints to contain prices. Monetary policy has a limited role to play in bringing down inflation.

Results Today: Axis Bank, Balaji Tele, DCB, Escorts, Finolex Cables, HDFC Bank, IDBI Bank, IndusInd Bank, NIIT Tech, Shree Renuka Sugars, TCS and UCO Bank.

We expect TCS to post 3.2% QoQ growth in PAT. HDFC Bank is projected to report ~19% YoY jump in bottomline. Axis Bank is likely to report 2.3% YoY rise in PAT.

FIIs were net sellers in the cash segment on Thursday at Rs3.12bn on a provisional basis. The local funds were net buyers of Rs5.29bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs2.54bn. As per the SEBI figures, FIIs were net sellers of Rs435mn in the cash segment on Monday.

US stocks rose on Thursday, led by technology shares. The Dow Jones Industrial Average added 30 points, or 0.3%. The S&P 500 index added 3 points, or 0.2%. Both closed at the highest point since Oct. 1, 2008. The Nasdaq Composite rose 9 points, or 0.4%, ending at the highest point since Sept. 3, 2008.

After the close, Dow component Intel said it earned 40 cents per share in the fourth quarter on sales of $10.6 billion. Both earnings and sales trounced estimates and marked a sharp improvement from the previous year. The stock gained 2% in extended-hours trading.

Overall S&P 500 earnings are expected to have risen more than 200% from the previous year, the worst quarter in Thomson's history. JPMorgan Chase is due to report results Friday morning. The financial behemoth is expected to have earned 66 cents per share on revenue of $27 billion.

Stocks ended higher on Wednesday, with the Dow closing at a 15-month high. After a weak start Thursday, stocks turned higher, despite the day's mixed economic news.

Retail sales fell 0.3% in December, the government reported Thursday. The report was a surprise to economists who were expecting sales to have risen 0.5%, according to a consensus of economists. Sales rose a revised 1.8% in November.

Retail sales excluding autos fell 0.2% in December after rising 1.9% in the previous month. Economists thought they would rise 0.3%.

The National Retail Federation said holiday sales for the November-December period rose 1.1%, a better showing than the retail group's forecast of a 1% decline.

The number of Americans filing new claims for unemployment rose last week to 444,000 from 433,000 in the previous week. Economists thought claims would rise to 437,000.

Continuing claims, a measure of Americans who have been receiving benefits for a week or more, fell to 4.596 million from 4.807 million in the previous week. Economists thought claims would fall to 4.750 million.

November business inventories rose 0.4% after rising 0.4% in the previous month. Economists thought claims the increase would be 0.3%.

President Obama proposed a plan to tax companies that took bailout funds, legislation he says is necessary to make sure the banks return the money they accepted in full.

The dollar fell against the euro and gained versus the yen.

COMEX gold for February delivery rose $6.20 to settle at $1,143 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.

US light crude oil for February delivery fell 26 cents to settle at $79.39 a barrel on the New York Mercantile Exchange.

Treasury prices rallied, lowering the yield on the 10-year note to 3.73% from 3.79% late on Wednesday.

European shares held on to small gains to close slightly higher, boosted by miners, while signs remained of a patchy global economic recovery.

The pan-European Dow Jones Stoxx 600 index rose 0.7% to close at 258.84, the second straight day of gains for the index.

Miners and metal stocks were one of the key supports for the index.

German DAX index rose 0.4% to close at 5,988.88, the French CAC-40 index advanced 0.4% to end at 4,015.77. The U.K. FTSE 100 index settled 0.5% higher at 5,498.20, helped by the mining sector gains.

A day after snapping a four-day losing streak, the Indian market extended gains for a second straight trading session on Thursday. Firm global cues helped the key indices start off with healthy gains, although there was an intra-day blip where the BSE Sensex slipped slightly on account of profit booking. However, as the day progressed, the bulls regained the lost composure. Strength in index heavyweights like Reliance Industries, ONGC and Infosys ensured there were no further hiccups. Wipro was one of the star performers of the day.

India’s inflation, as measured by the wholesale price index (WPI), stood at 7.31% for December 2009 as compared to 4.78% for the previous month. Inflation was at 6.15% during the corresponding month of the previous year.

Inflation for Food Articles rose to 3.11% in December 2009 as compared to 2.70% in the same period last year. Non-Food Articles inflation rose to 0.48% from 0.12% in December 2008 and Minerals inflation was at -0.06% versus -0.03% in December 2008.

The BSE Sensex advanced 75 points to end at 17,584 after touching a high of 17,628 and a low of 17,532. The Nifty added 25 points to end at 5,260.

Equity markets in Asia ended in the green. The Nikkei in Japan was up 1.6%, while Australia's S&P/ASX ended higher by 0.6%. The Shanghai SE Composite was up 1.6% and Hang Seng index in Hong Kong was flat.

In Europe, stocks were trading higher as well. The DAX in Germany was up 0.6% and the CAC 40 index in France was up 0.6%. The FTSE in the UK was up 0.6%.

Coming back to India, among the BSE sectoral indices, the Oil & Gas index was the top gainer, adding 2.3%, followed by the Consumer Durables index that was up 2% and the BSE PSU index was up 0.9%. The BSE Mid-Cap index advanced 1% while BSE Small-Cap index added 1.2%.

Among the 30-components of Sensex, 15 stocks ended in the negative terrain and 15 ended in the green. RCom, Wipro, ONGC, Reliance Industries, BHEL and Sterlite Industries were among the top gainers.

On the other hand, HUL, Tata Power, Hero Honda, Reliance Infra and DLF were among the top losers.

Outside the frontline indices, the big gainers in the broader market were Sterline Bio, Koutons Retail, TTML, REC and Federal Bank. On the other hand, losers included Sintex Ind, Madras Cem, PTC and Renuka Sugar.

Wipro Ltd.’s founders, including Chairman of the company Azim Premji are reportedly planning to sell a part of their shares and are planning a US$1bn sponsored American depositary receipts (ADR) issue. Citigroup, Credit Suisse, Morgan Stanley and Goldman Sachs may manage Wipro’s ADR offer, reports added.

The stock surged by 3.5% to end at Rs741, it opened at Rs715.5 touching an intra-day high of Rs752 and a low of Rs705 and recorded volumes of over 1mn shares on BSE.

The Securities and Exchange Board of India has reportedly cleared the draft share-sale document filed by Reliance Infratel Ltd. Shares of Reliance Communication surged by over 4% to end at Rs183. The scrip opened at Rs177 it touched an intra-day high of Rs184 and a low of Rs175 and recorded volumes of over 2.6mn shares on BSE.

Usha Martin plans to raise Rs5bn by selling shares to large investors. The company is planning to sell shares for at least Rs85.9 per share. The sale would be managed by Equirus Capital Pvt.

Shares of Usha Martin gained by 2% to end at Rs89. The scrip opened at Rs88.9 it touched an intra-day high of Rs90 and a low of Rs85.30 and recorded volumes of over 0.8mn shares on BSE.

Shares of Sasken Communication shot up by over 3% to end at Rs201 after Reliance Capital Trustee acquired nearly 0.31mn shares of the company at an average price of Rs185 on January 13, 2010. While, Nortel Networks Mauritius Ltd was the seller for the same. The scrip opened at Rs199.5 it touched an intra-day high of Rs206.8 and a low of Rs199.4 and recorded volumes of over 0.98mn shares on BSE.

Shares of Punjab Chemicals added 1.5% to end at Rs180 after the board of directors approved to raise Rs2bn by various routes from domestic and international markets. The company would raise the amount by issue of securities or foreign currency convertible bonds (FCCBs) from the domestic or international markets.

Era Infra announced that the company in association with OJSC-SIBMOST, has bagged the prestigious orders from NHAI for an estimated cost Rs16.59bn. Shares of ERA Infra gained by 2.5% to end at Rs210. The scrip opened at Rs206 it touched an intra-day high of Rs213 and a low of Rs206 and recorded volumes of over 0.52mn shares on BSE.

Market may extend two days gains on positive Asian stocks; TCS eyed

The market may extend last two days gains on positive Asian stocks. US stocks rose on Thursday on better than estimated result by Intel Corp. Investors will closely watch Q3 December 2009 result from IT major Tata Consultancy Services (TCS) and banking majors HDFC Bank and Axis Bank due later in the day today.
The inflation jumped to a one-year high in December, reinforcing views the Reserve Bank of India (RBI) will start increasing reserve requirements later this month to contain price pressures as the economic recovery strengthens. Markets have mostly factored in a 50-basis point rise in the cash reserve ratio (CRR), the level of cash banks must keep with the central bank, on 29 January 2010 but recent strong data has raised expectations that policy rates might also be raised.
The wholesale price index rose 7.3 % in December from a year earlier, its highest since November 2008 and accelerating from a 4.8 % gain in November, data showed on Thursday. The rise was driven by near 20 % jump in food prices, which rose on weak monsoon rains and flooding in parts of the country, but inflation in manufacturing products picked up to 5.2 % from 4 % in November, a sign that inflationary pressures were spreading to other sectors of the economy.
Data also showed on Tuesday industrial output grew at faster-than-expected 11.7 % in November from a year earlier. The purchasing managers' index rose to its highest since May in December while car sales rose an annual 40.3 % last month.
The government, which is pressing the RBI to hold rates to ensure the $1.2 trillion economy's recovery, ordered this week the sale of stocked grain and extended duty-free sugar imports by another nine months, hoping to rein in high food inflation.
Meanwhile, a panel of experts will review over the next three months how to encourage foreign investment in the financial sector such as the bonds and the stock markets, the government said on Thursday. The panel, which has experts from both the private and the government sectors, will identify challenges in meeting the financing needs of the Indian economy through foreign investment, according to a government statement. The panel will take views on foreign investments till 10 February 2010, the statement said, and will submit its report by mid-March.
Federal policy makers, including deputy chairman of Planning Commission Montek Singh Ahluwalia have said that India needs more capital flows especially for infrastructure sector.
Banks on Thursday urged the Reserve Bank of India (RBI) to keep interest rates stable at its policy review later this month, saying any increase could further dent sluggish demand for loans.
Most Asian stocks rose after early volatility on Friday as a better-than-estimated revenue prediction from Intel Corp. countered declines by energy shares after oil prices fell. The key benchmark indices in China, Indonesia, Hong Kong, South Korea, Singapore and Taiwan rose by between 0.18% to 0.75%. But Japan's Nikkei fell 0.17%.
Technology shares drove Wall Street higher on Thursday on bets ahead of Intel's quarterly results that business spending will bolster profits in the sector. Bank stocks gained after President Obama announced a tax that would amount to 90 billion dollars over 10 years against banks that received federal bailout funds. The Dow gained 29.78 points, or 0.3%, to 10,710.55. The broader Standard & Poor's 500 index rose 2.78 points, or 0.2%, to 1,148.46, and the Nasdaq Composite Index rose 8.84 points, or 0.4, to 2,316.74.
In economic data, the latest initial jobless claims increased 11,000 from the previous week to 444,000. But continuing claims dropped larger than expected to 4.60 million. In other data, advance retail sales for December 2009 decreased 0.3%, which was weaker than the 0.5% increase that had been expected.
Closer home, the key indices edged higher on Thursday 14 January 2010, gaining for the second straight day on firm Asian stocks. The BSE 30-share Sensex rose 75.07 points or 0.43% at 17,584.87.
As per provisional figures on NSE, foreign funds sold shares worth Rs 312.01 crore and domestic funds bought shares worth Rs 529.12 crore on Thursday.

US stocks end higher despite mediocre data

Strong expectations from Intel earnings fuel a modest rally at Wall Street
Buoyed by the healthcare, technology and financial sectors, US stocks registered modest gains on Thursday, 14 January 2010. Though economic data for the day checked in worse than expected, stocks found momentum from earning expectation from tech bellwether Intel that was due to report its earnings after today's close.
At the end of the day on Thursday, 14 January, 2010, the Dow Jones Industrial Average ended higher by 29.78 points at 10,710.55. Nasdaq ended higher by 8.84 points at 2316.74. S&P 500 ended higher by 2.78 points at 1148.46. Earlier in the day, Dow opened the session lower by 5 points.
Four of ten economic sectors ended in the green led by healthcare, technology, energy, and financial sectors. Telecom and material sectors lagged. Consumer staples were the only sector to finish unchanged.
JP Morgan Chase and Intel were the main Dow winners while AT&T, Verizon, WalMart and Walt Disney were the main Dow losers.
Intel, which was scheduled to report its latest quarterly results after the closing bell, led the tech sector to a modest gain today.
Materials stocks were weak once again today. The sector was down amid renewed weakness in shares of Monsanto. The Justice Dept. in US confirmed that it is investigating the possibility of anticompetitive practices in the seed industry.
Among economic data expected for the day, The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.
Auto sales disappointed in December, dropping 0.8% in dollar terms even as the automakers reported higher unit sales. Excluding the 0.8% decline in auto sales, retail sales fell 0.2%.
Separately, The Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December. The average number of workers filing claims over the past four weeks fell by 9,000 to 440,750. This is the lowest since late August 2008. The four-week average is considered a better gauge of the labor market than the volatile weekly number.
A separate report showed U.S. business inventories rose slightly more than expected, up 0.4% in November, to $1.3 trillion, fueled chiefly by rising wholesale and manufacturing stockpiles.
Crude oil prices ended lower for fourth straight day on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for oil in coming months. Prices also slipped as energy department reported yesterday in its latest weekly inventory report more than expected buildup in crude inventories for last week.
On Thursday, crude-oil futures for light sweet crude for February delivery closed at $79.29/barrel (lower by $0.26 or 0.3%). Crude ended last week higher by 4.3%. On a year to date basis till date, crude is lower by 0.3%.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.
Indian ADRs ended mixed on Thursday, 14 January 2010. Wipro Technologies shed the most slipping 6.8%. Rediff.com gained 2%.
Tomorrow, the day will feature economic reports including CPI, core CPI and Empire Manufacturing Survey.

Copper drops on demand concerns

Weak retail sales data in US hammers red metal price
Base metal prices continued to drop on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for metals in coming months.
At USA, copper futures for March delivery ended lower by 1.25 cents (0.4%) to 3.3875 a pound. Earlier during the day, prices rose by 1.3%. Last week, copper ended higher by 1.6%. This year, till date, copper is lower by 1.3%. Copper ended FY 2009 higher by 140%.
At LME, copper for delivery in three months was almost unchanged at $7,490. On 3 July, 2008, prices had touched an all time intra day high of $8,940.
Copper ended substantially higher last year on expectations of revived global economic growth along with a decline in the dollar. The dollar index had dropped almost 4.2% last year. The metal was also pushed higher by record first-half imports to China, the world's largest user.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.
The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.
Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.
The U.S. buys about 13% of the 17 million metric tons of copper sold annually and China buys about 20%.
In FY 2008, copper prices dropped by 54%. Prior to 2008, copper prices ended FY 2007 with a gain of mere 5.5% after a whopping 44% gain in FY 2006. The price of copper gained every year since 2002 as global economic growth boosted demand for the metal used in pipes and wires.
At the MCX, copper for February delivery closed lower by Rs 0.3 (0.08%) at Rs 341.6/Kg. Prices rose to a high of Rs 346.25/Kg and fell to a low of Rs 340.9/Kg during the day's trading.
Among other metals traded in the LME on Thursday, lead dropped 0.8% to end at $2,460 a ton and zinc gained 0.8% to end at $2,508 a ton. Nickel was little changed at $18,304. Aluminium advanced 1.3% to end at $2,324 a ton.

Crude stays below $80

Prices drop following disappointing batch of economic data
Crude oil prices ended lower for fourth straight day on Thursday, 14 January 2010. Prices fell following disappointing batch of economic data spurring concerns about demand for oil in coming months. Prices also slipped as energy department reported yesterday in its latest weekly inventory report more than expected buildup in crude inventories for last week.
On Thursday, crude-oil futures for light sweet crude for February delivery closed at $79.29/barrel (lower by $0.26 or 0.3%). Crude ended last week higher by 4.3%. On a year to date basis till date, crude is lower by 0.3%.
Crude ended FY 2009 higher by 78%, the highest yearly gain since 1999. It reached a high of $82 earlier in October 2009 and hit a low of $33.98 on 12 February 2009. Oil prices had reached a high of $147 on 11 July, 2008 but have dropped almost 44% since then. Crude prices had ended FY 2008 lower by 54%, the largest yearly loss since trading began at Nymex.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.
The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.
Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.
The EIA reported yesterday that crude-oil supplies rose by 3.7 million barrels in the week ended 8 January, 2009. Market was expecting a buildup of 1.9-million-barrel increase. The report also showed that U.S. distillate inventories were up 1.4 million barrels.
Earlier during the week, in its monthly short-term outlook, EIA reported that West Texas crude-oil prices, which averaged about $62 a barrel last year, will average about $79.83 this year and about $83.5 in 2011. Prices should average $77 in the first quarter and $85 in the fourth quarter this year. The forecast assumes U.S. growth of 2% this year and 2.7% in 2011. In its December outlook, the EIA forecast that world oil consumption will grow in 2010 by 1.1 million barrels a day to put the total daily figure at 85.2 million barrels.
Also on Thursday, natural gas for February delivery slumped 14 cents, or 2.4%, to $5.73 per British thermal units. The Energy Information Administration reported a drop of 266 billion cubic feet in storage of natural gas for last week, slightly more than expected.
At the MCX, crude oil for January delivery closed Rs 16 (0.3%) lower at Rs 3,634/barrel. Natural gas for January delivery closed lower by Rs 9.7 (3.7%) at Rs 252.1/mmbtu.

Bullion metals add more glitter

Prices rise as dollar stays weak following disappointing data
Precious metal prices rose once again on Thursday, 14 January 2010. Prices rose as the dollar stayed relatively weak for the entire day after disappointing batch of economic data.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Thursday, gold for February delivery ended at $1,143 an ounce, higher by $6.2 (0.5%) an ounce on the New York Mercantile Exchange. Earlier during the day, it rose to a high of $1146.7 and fell to a low f $1130.7. Last week, it had ended higher 3.9%. Year to date in FY 2010, gold has risen by almost 4.3%.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end.
On Thursday, March Comex silver futures ended higher by 11 cents (0.6%) at $18.66 an ounce. Last week, silver ended higher by 9.6%. Year to date in FY 2010, silver has risen by almost 11.3%.
Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.
In the currency market on Thursday, the dollar index, which weighs the strength of dollar against the basket of six other currencies erased earlier gains and fell by almost 0.1%.
The Commerce Department in US reported on Thursday, 14 January 2010 that U.S. retail sales was disappointing in December, falling a seasonally adjusted 0.3% on widespread weakness across different kinds of stores. The decline was unexpected. Market was forecasting a 0.5% gain.
Separately, the Labor Department in US reported on Thursday, 14 January 2010 that first-time jobless claims rose last week by the largest amount in five weeks. Initial claims rose by 11,000 to 444,000 in the week ended 9 January 2010. This was the highest level since mid-December.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
At the MCX, gold prices for February delivery closed higher by Rs 101 (0.6%) at Rs 16,894 per ten grams. Prices rose to a high of Rs 16,925 per 10 grams and fell to a low of Rs 16,811 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 108 (0.4%) higher at Rs 28,406/Kg. Prices opened at Rs 28,399/kg and rose to a high of Rs 28,459/Kg during the day's trading.

Bullion metals shine

Prices rise as dollar slips
Precious metal prices shone on Wednesday, 13 January 2010. Prices rose as the dollar stayed relatively weak for the entire day though at the end, it just managed to pare most of its losses.
Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Wednesday, gold for February delivery ended at $1,136.8 an ounce, higher by $7.4 (0.65%) an ounce on the New York Mercantile Exchange. Last week, it had ended higher 3.9%. Year to date in FY 2010, gold has risen by almost 3.8%.
Last year, after hitting a low at $807.30 per ounce on 15 January 2009, gold futures rallied almost 51% to hit an all-time high at $1217.40 per ounce during early December of 2009 but fell from those levels at the end.
On Wednesday, March Comex silver futures ended higher by 42 cents (2.3%) at $18.67 an ounce. Last week, silver ended higher by 9.6%. Year to date in FY 2010, silver has risen by almost 10.7%.
Silver futures had hit a low at $10.42 on 15 January 2009 and hit a high at $19.30 per ounce on 2 December 2009. Like gold, silver also ended lower than its all time high level.
In the currency market on Wednesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2%.
The Fed's latest Beige Book stated today that economic activity is still low in US, but improving. It also stated that credit quality is still worsening, though.
Gold had ended FY 2009 higher by 24%. Silver futures had ended 2009 up 50%. The dollar index had lost 4.2% against its counterparts last year.
At the MCX, gold prices for February delivery closed lower by Rs 85 (0.5%) at Rs 16,793 per ten grams. Prices rose to a high of Rs 16,848 per 10 grams and fell to a low of Rs 16,655 per 10 grams during the day's trading.
At the MCX, silver prices for March delivery closed Rs 305 (1.1%) higher at Rs 28,298/Kg. Prices opened at Rs 28,030/kg and rose to a high of Rs 28,349/Kg during the day's trading.

Bartronics India

We recommend a buy in Bartronics India from a short-term perspective. It is apparent from the charts of the stock that following medium-term corrective downtrend from July 2009 high to October 2009 low (from Rs 193 to Rs 130), the stock found support between Rs 130 and Rs 140. The stock bounced and has been on medium-term uptrend since October. On January 5, it penetrated its medium-term downtrend-line and conclusively surpassed 21- and 50-day moving averages. The stock continues to move higher and appears to have resumed the intermediate-term uptrend that has been in place from March low of Rs 61. The stock is trading well above its 21- and 50-day moving averages. We notice that the current rally has been backed by good volumes. The daily relative strength index (RSI) is featuring in the bullish zone and weekly RSI is heading towards this zone in the neutral region. Moreover, the daily moving average convergence and divergence indicator is steadily rising in the positive territory. Our short-term outlook is bullish for the stock. We expect it to move up until it hits our price target of Rs 183. Traders with short-term perspective can consider buying the stock while maintaining stop-loss at Rs 157.
via BL

Turnover rises

Nifty January 2010 futures at premium
Nifty January 2010 futures were at 5,243, at a premium of 9.05 points as compared to the spot closing of 5,233.95. Turnover in NSE's futures & options (F&O) segment increased to Rs 70,881.61 crore from Rs 69,334.16 crore on Tuesday, 12 January 2010.
State Bank of India January 2010 futures were at premium at 2,179 compared to the spot closing of 2,173.90.
Aban Offshore January 2010 futures were at premium at 1,520 compared to the spot closing of 1,515.80.
Tata Consultancy Services January 2010 futures were at discount at 786 compared to the spot closing of 788.80.
In the cash market, the S&P CNX Nifty rose 23.55 points or 0.45% at 5,233.95.

Wednesday woes continues to whack Asian Markets

Shanghai slumps on interest rate decision as Sydney, Seoul, NZX 50, Nikkei follows
Stock markets in Asian region witnessed a weighted Wednesday on 13 January 2010, amid renewed concerns over a global economic recovery following the Chinese central bank's move to tighten monetary conditions. The overnight fall on Wall Street, lower commodity prices and profit taking after recent gains are also contributing to the weakness.
On Wall Street, stocks closed lower as weakness in the chip, energy and material sectors followed an earnings miss by Alcoa the day before. The Dow Jones Industrial Average fell 37 points, or 0.3%, at 10,627. The S&P 500 sank by 11 points, or 0.9%, at 1136 and the Nasdaq fell off by 30 points, or 1.3%, at 2282.
In the commodity market, crude oil declined for a third a day after China raised bank reserve requirements to curb a credit boom and prevent the economy from overheating, and as an industry report showed an increase in U.S. crude and distillate stockpiles.
Crude oil for February delivery dropped as much as $1.01, or 1.3%, to $79.78 a barrel in electronic trading on the New York Mercantile Exchange. It was at $79.89 at 11:48 a.m. Singapore time. Yesterday, the contract fell $1.73 to settle at $80.79, the biggest one-day decline since 9 December 2009.
Brent crude for February settlement fell as much as 88 cents, or 1.1%, to $78.42 a barrel on the London-based ICE Futures Europe exchange. It was at $78.50 a barrel at 11:49 a.m. in Singapore. Yesterday it dropped $1.67, or 2.1%, to $79.30 a barrel, declining for a fourth day.
Gold, little changed in Asia, may extend its biggest fall in more than three weeks, on speculation that demand for commodities will ease after China took action to cool bank lending. Gold for immediate delivery weakened as much as 0.3% to $1,125.63 an ounce and was at $1,128.90 at 10:26 a.m. in Singapore after rising as much as 0.4% earlier.
In the currency market, the US dollar remain in range, even though Asian stocks are broadly lower in response to China’s measure to curb lending, including hiking bill yields and raising reserve requirements.
The Japanese yen strengthened against major currencies in Asian trade on Wednesday on speculation global economic recovery will slow, spurring demand for Japan’s currency as a refuge. Meanwhile the yen slightly softened in afternoon trading against US dollar after Federal Reserve Bank of Philadelphia President Charles Plosser said policy makers must raise rates before unemployment falls to an acceptable level. Japan’s currency was quoted at 91.19 per US dollar on Wednesday from yesterday quote at Y90.98 per dollar in New York.
The Hong Kong dollar was trading at HK$ 7.7552 against the dollar. Actually the Hong Kong dollar is pegged at HK$ 7.8 to the U.S. dollar but can trade between HK$ 7.75 and HK$7.85 to the U.S. dollar.
In Sydney trade, the Australian dollar closed lower on Wednesday as financial markets offloaded commodity-driven currencies after China’s tightening of monetary policy to cool the nation’s economy. At the local close, the dollar was trading at $US0.9227, down 0.7%from Tuesday’s close of $US0.9289.
In Wellington trade, the New Zealand dollar traded in a range below recent highs today as investors started to shun currencies in this part of the world again but it gained against the Australian dollar. The NZ dollar was US74.04c at 5pm, having traded between US73.74c and US74.14c during the session. It was at US73.99c at 5pm yesterday.
The South Korean won closed at 1,125.50 won to the greenback, down from yesterday 1,123.60 won.
The Taiwan dollar weakened against the greenback. The Taiwan dollar was trading lower against the US dollar at NT$ 31.8090, 0.0190 down from Tuesday’s close of NT$31.7900.
In equities, Asian stock markets edged lower, weighed by Wall Street’s decline and the Chinese central bank's move to rein in excessive credit creation.
In Japan, the share market tumbled from 15-month highs yesterday, on tracking weak cues from offshore market. Investors consolidated gains following Wall Street’s overnight decline as disappointing earnings results and the Chinese central bank’s move toward tighter policy on Tuesday.
At the end of today’s trade, the Nikkei 225 Stock Average index was at 10,781.92, surrendered 144.11 points or 1.32%, while the broader Topix of all First Section issues on the Tokyo Stock Exchange dropped 10.11 points, or 1.06%, to 944.02.
On the economy front, the cabinet office said that the economic watcher index, a survey of barbers, taxi drivers and others who deal with consumers, climbed to 35.4 from 33.9 in November.
In Mainland China, the stock market nosedived with broad based sell off across the major heavyweights after China moved to cool lending and commodity prices dropped on fading enthusiasm about the economic recovery following the Chinese central bank’s credit-tightening measures.
At the closing bell, the Shanghai Composite Index, measuring A shares and B shares on the Shanghai Stock Exchange, stumbled 3.09% or 101.31 points, to 3,172.66, while the Shenzhen Component Index on the smaller Shenzhen Stock Exchange surrendered 2.73% to 13,016.56. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, sank 3.22%, to 3,421.17.
On the economic front, the People's Bank of China yesterday raised the reserve requirement ratio by 0.5% on Yuan deposits starting next Monday. The increase is the first rise since 25 December 2008. The reserve-requirement increase will help to drain 200 billion Yuan (US$29.29 billion) to 300 billion Yuan from the market
The PBOC also raised the returns on its 20-billion-yuan central bank one-year bills by a bigger-than-expected 0.08 percentage point to 1.8434%. It was the first increase in this area since last August. The central bank has also drained a record 200 billion Yuan via a 28-day bond-repurchase agreement.
Last week, the central bank conducted a net drain of 137 billion Yuan from the market, the biggest weekly net drain since late October, after draining a net 6 billion Yuan the week before that.
In Hong Kong, the share market logged worst one-day percentage loss in more than a month, weighed by weak offshore leads and falls in commodity prices. China's central bank’s tightening monetary policy to address concerns the economy added to the negative tone.
At the closing bell, the Hang Seng Index tumbled 578.04 points, or 2.59%, to 21,748.60, while the Hang Seng China Enterprise, which tracks the overall performance of 43 mainland Chinese state-owned enterprises on the Hong Kong Stock Exchange, dropped 485.19 points, or 3.74%, to 12,482.18.
In Australia, the shares market tumbled after a weaker offshore cues and sharply pullback in commodity metal and oil prices in Asian deal. Mining and energy stocks once again the biggest drag on the markets on pullback in metal and oil prices in the wake of the China move to tighten monetary policy spurred worries global economic recovery momentum may dampen. Banking stocks mostly weaker on tracking US peers.
At the closing bell, the benchmark S&P/ASX200 index tumbled 31.40 points, or 0.64%, to 4,868.10, meanwhile the broader All Ordinaries retracted 31.50 points, or 0.64%, to 4,900.10.
On the economic front, the Australian Bureau of Statistics said Australia’s GDP grew 0.2%, seasonally adjusted, in the September quarter. Non-farm GDP grew 0.1%. The Terms of trade rose 1% and real gross domestic income rose 0.4%.
In New Zealand, equities declined for the third day in a row, dipping down by almost 14 points at closing. Share markets fell following a slide by equity markets around the world after China said it would raise banks' reserve requirements in a move that could dampen a nascent recovery from the worst global recession in decades. The benchmark NZX 50 decreased 14.09 points or 0.43% to 3276.2. The NZX 15 lost 23.26 points or 0.39% to close at 5962.28.
In South Korea, shares finished lower as a faster-than-expected decision by China to cool bank lending triggered foreign and institutional sell-offs. The Korea Composite Stock Price Index (KOSPI) sank 27.23 points to 1,671.41.
In Singapore, the share market sank after a lead from Wall Street overnight and other Asian bourses were fairly weak; thanks to significant declines in commodity prices and China surprise measure to hike in reserve requirement. The blue chip Straits Times Index finished the day at 2,888.38, dropped 27.73 points or 0.95%.
In Taiwan, stock markets in Taiwan tumbled further led by losses in financial and other stocks that have investments on the Mainland China, weighed by news of further Chinese monetary tightening. China took its strongest step towards tightening monetary policy on yesterday as the world's third-largest economy roars ahead, surprising investors with an increase in banks' required reserves that rocked global financial markets.
The benchmark Taiex share index extended losses for second straight session, by finishing the day lower by 112.81 points or 1.36% at 8196.56, posting biggest single day fall since 10 December 2009 when market corrected 119.51 points.
On the economic front, the annual growth of Taiwan’s consumer price index (CPI) posted negative 0.21% in December 2009, for the 11th consecutive monthly drop; and the average rise for the full year was minus 0.87%, the largest fall of its kind ever, thanks to the economic downturn.
According to the Cabinet-level Directorate General of Budget, Accounting & Statistics (DGBAS) the fall in CPI mainly attributed to price drops in vegetable and fruits and the lower prices and charges levied by schools, restaurants, and entertainment providers trying to attract budget-conscious consumers.
In Philippines, the stock market closed marginally lower in line with the other Asian equities sidelining the positive news on economic frontal. All FDI components posted net inflows, reflecting favorable investor sentiment on the country’s underlying macroeconomic fundamentals. Moreover, export growth rose for the first time in 14 months, indicating that demand is slowly recovering after the global downturn.
The composite index took cues from the losses on Wall Street overnight, which slipped Tuesday after disappointing quarterly results from Alcoa to kick off the corporate earnings season injected some caution in the market. The benchmark index PSEi declined 0.28% or 8.92 points to 3,096.70, while the All Shares index tumbled 0.30% or 6.01 points to 1,943.11.
In India, the key benchmark indices turned positive, recovering sharply from the negative zone, thanks to positive opening by European stocks. The BSE 30-share Sensex was up 87.29 points or 0.50% at 17,509.80. The S&P CNX Nifty closed up 23.55 points or 0.45% at 5233.95.
Elsewhere, Malaysia’s Kula Lumpur Composite index finished slightly lower at 1289.51 while stock markets in Indonesia’s Jakarta Composite index declined by 26.68 points ending the day lower at 2632.87.
In other regional market, European shares edged higher on Wednesday, as gains for miners offset weakness in the banking sector after French bank Societe Generale took another hefty write-down on its mortgage assets. Overall, the German DAX index rose 0.2% to 5,954, the French CAC-40 index traded flat at 3,998.40, while the U.K. FTSE 100 index declined 0.3% to 5,484.

Infinite Computer Solutions Oversubscription Details

Qualified Institutional Buyers (QIBs) - 48.4435 times
Non Institutional Investors 106.0171 times
Retail Individual Investors (RIIs) 11.0781 times
Good times are back for IPO Market

Infinite Computer IPO subscribed 41.79 times

Receives bids for 40.85 crore shares
The initial public offer (IPO) of Infinite Computer Solutions (India) was oversubscribed by 41.79 times on its last day on Wednesday, 13 January 2010. The IPO got bids for 40.85 crore shares by 16:00 IST, data on NSE showed. The company proposes to sell 97.77 lakh shares through the IPO, which excludes allotment to anchor investors.
The issue closes today, 13 January 2010. The price band was set at Rs 155 to Rs 165. At the top end of the price band, the company will raise about Rs 190 crore. The company is offered shares through a 100% book-building process.
Infinite Computer Solutions got a commitment of Rs 28.46 crore from nine anchor investors. The company finalised an allocation of 17.25 lakh shares to nine anchor investors at Rs 165 per share--at the upper price band of the IPO.
The IPO included fresh issue of 57.33 lakh equity shares and an offer to sell 57.69 lakh equity shares by Whiterock Investments (Mauritius). The company intends to utilize the IPO proceeds for meeting capital expenditure, making acquisitions and repaying debt.
Infinite Computer Solutions (India) is mainly into software application development and maintenance but has diversified into other areas such as remote infrastructure management and research & development services.

Market does about-turn

Today's major news
Phillips Carbon starts co-generation power plant; the stock rises 1.28%
HCL Technologies plans to buy OLR; the stock jumps 2.66%
JMC Projects bags contract worth Rs355 crore; the stock surges 1.53%
IVRCL bags road project worth Rs1550 crore; the stock ends the day 0.185 lower
REC net jumps 49% in Q3; the stock closed the day 1.43% lower.
Click here for more stories
Post-market summary
Global signals
European indices are trading mixed on Wednesday. At the time of writing this report FTSE 100 is trading lower by marginal 0.15%, while DAX traded 0.17% higher.
All Asian indices closed lower on news of China tightening its monetary stance. SGX Nifty closed 29 points higher.
US stock futures opened marginally higher on Wednesday, as investors looks forward to treasury budget for December and crude inventories for the week ended January 08, 2009.
Indian indices
Brushing aside pessimistic cues from global markets, Indian market bucked the trend and turned positive after four successive days of losses on the back of continuing buying in information technologies (IT) stocks. In tandem with overseas markets, the Sensex opened 54 points lower and soon touched the day’s low of 17276. After touching the day’s low, the Sensex recovered all its losses and touched the day’s high of 17528. At closing bell, the Sensex closed at 17510, 87 points higher. Nifty closed 24 points higher at 5234.
Market sentiment
The market breadth was positive. Of 2,969 stocks traded on the BSE, 1,692 stocks advanced, whereas 1,195 stocks declined. Eighty two stocks closed unchanged
Sectoral & stock screening
On better-than-expected results and outlook by Infosys technology, IT sector remained up for the second day in row with the BSE IT up by 3.84% followed by BSE TECk that jumped 2.81%. On the obverse side, BSE Auto fell the most with the loss of 0.66% followed by BSE Bankex that slid 0.60%.
The star stock for the day was GTL Infrastructure that was up by 13.94% to be followed by PTC India that surged 5.56% and GTL that rose 5.36%. Lanco Infrastructure slid the most by 3.69%, followed by India Infoline that fell 3.19% and Mahindra & Mahindra that shed 2.91%.
Viewing volumes
GTL Infrastructure was the most actively traded share with over 1.50 crore shares changing hands on the BSE followed by Ispat Industries (1.02 crore shares), wind turbine maker Suzlon Energy (0.81 crore shares), India’s second biggest realty company, Unitech (0.72 crore shares) and industrial finance company, IFCI (0.57 crore shares).

BSE Bulk Deals to Watch - Jan 13 2010

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
13/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI B 28556 52.42
13/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI B 36309 52.15
13/1/2010 524412 Aarey Drugs DAXABEN VASANTKUMAR SHAH S 28226 50.79
13/1/2010 524412 Aarey Drugs AMISHA DEVLOPERS LIMITED S 44800 52.93
13/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI S 37212 52.93
13/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI S 39300 52.09
13/1/2010 531897 Accentia Tech SHARAD KANTILAL SHAH B 248900 224.03
13/1/2010 531897 Accentia Tech PRADEEP S 145000 221.00
13/1/2010 532828 AMD Inds REGENT FINANCE CORPORATION PVT. LTD. B 129753 38.64
13/1/2010 532828 AMD Inds MAHALAXMI BROKERAGE (INDIA) PRIVATE LIMITED B 106561 41.06
13/1/2010 532828 AMD Inds TRANSGLOBAL SECURITIES LTD. B 179944 40.08
13/1/2010 532828 AMD Inds REGENT FINANCE CORPORATION PVT. LTD. S 129753 38.86
13/1/2010 532828 AMD Inds MAHALAXMI BROKERAGE (INDIA) PRIVATE LIMITED S 106561 41.03
13/1/2010 532828 AMD Inds TRANSGLOBAL SECURITIES LTD. S 176994 39.98
13/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR B 105632 23.67
13/1/2010 531881 Arvind Chem OMPARKASH GUPTA B 107094 23.59
13/1/2010 531881 Arvind Chem NILESH EKNATH BHOIR S 105632 23.65
13/1/2010 531881 Arvind Chem OMPARKASH GUPTA S 106989 23.71
13/1/2010 512535 Asahi Infra S V ENTERPRISES B 2000000 1.00
13/1/2010 500029 Autolite India STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND B 86394 36.00
13/1/2010 500029 Autolite India RHODES DIVERSIFIED S 100000 36.01
13/1/2010 505506 Axon Infotech SHILPI AGARWAL B 4000 24.40
13/1/2010 505506 Axon Infotech POOJA BHARTIA B 5000 24.40
13/1/2010 505506 Axon Infotech VINAY AGARWAL B 5000 24.40
13/1/2010 505506 Axon Infotech SRI BHAGWAN KALYANI B 10000 24.40
13/1/2010 505506 Axon Infotech ARVIND S SHAH HUF B 5000 24.40
13/1/2010 505506 Axon Infotech KALPANA MADHANI SECURITIES PVT. LTD. B 10000 24.40
13/1/2010 505506 Axon Infotech BHAVIN Y MEHTA B 10002 24.40
13/1/2010 505506 Axon Infotech CHANCHAL AGARWALLA B 5000 24.40
13/1/2010 505506 Axon Infotech BHAVIN A DEDHIA S 34290 24.40
13/1/2010 505506 Axon Infotech KALPANA MADHANI SECURITIES PVT. LTD. S 10000 24.40
13/1/2010 505506 Axon Infotech ZAKIR HUSEN S 3853 24.40
13/1/2010 505506 Axon Infotech BHAVIN Y MEHTA S 10002 24.40
13/1/2010 505506 Axon Infotech RAMJANA BANTHIA S 3503 24.40
13/1/2010 508136 B&A SOMNATH CHATTERJEE S 16150 228.67
13/1/2010 532380 Baba Arts GORDHAN PRABHUDAS TANWANI S 491932 12.00
13/1/2010 590076 Camson Bio STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND B 150000 104.49
13/1/2010 590076 Camson Bio SANATAN HERBAL AND NATURALS LIMITED S 150000 104.50
13/1/2010 532871 Celestial Labs R B K SHARE BROKING LIMITED S 58555 42.05
13/1/2010 531932 CG Impex VARSHABEN NAVINBHAI SONI S 49473 6.05
13/1/2010 532807 Cinemax India MERILL LYNCH CAPITAL MARKETS ESPANA S A SV B 230164 75.77
13/1/2010 505052 Clutch Auto HITESH SHASHIKANT JHAVERI B 134387 77.99
13/1/2010 505052 Clutch Auto HITESH SHASHIKANT JHAVERI S 102727 77.88
13/1/2010 531216 Comfort Intech ANKIT RAJENDRA SANCHANIYA S 1186718 17.70
13/1/2010 526550 Country Club HDFC STANDARD LIFE INSURANC S 441361 20.13
13/1/2010 517514 D&H Welding MILAN P. SHAH B 50000 26.16
13/1/2010 531750 Encore Soft SNEHALATHA SINGHI B 62918 8.00
13/1/2010 530337 Exelon Infra TEJAS KIRITKUMAR BAKHAI S 30100 53.71
13/1/2010 532139 G Tech Info SHIRIN MUNIR GAZI S 500000 4.74
13/1/2010 532139 G Tech Info MUNIR ABDULLATIF GAZI S 500000 4.74
13/1/2010 532139 G Tech Info RITU SINGAL S 570000 4.74
13/1/2010 514167 Ganesh Poly HITESH SHASHIKANT JHAVERI B 72851 37.35
13/1/2010 514167 Ganesh Poly HITESH SHASHIKANT JHAVERI S 61222 37.35
13/1/2010 532951 GSS America DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD B 131350 349.00
13/1/2010 532951 GSS America MADHUKAR CHIMANLAL SHETH B 75000 347.00
13/1/2010 532951 GSS America DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 112252 348.04
13/1/2010 505712 Gujarat Auto SNEHA DILIPBHAI VARIYA B 4000 288.40
13/1/2010 505712 Gujarat Auto KALPANA MADHANI SECURITIES PVT. LTD. B 2285 288.40
13/1/2010 505712 Gujarat Auto ICICI BANK LTD INVESTMENT A\C S 6470 288.40
13/1/2010 500183 Himachal Futur SPS SHARE BROKERS PRIVATE LIMITED B 2500000 14.40
13/1/2010 500183 Himachal Futur JMP SECURITIES PVT LTD B 2576943 13.67
13/1/2010 500183 Himachal Futur JMP SECURITIES PVT LTD S 2679993 13.58
13/1/2010 530315 Hindustan Tin SAINATH TRADING CO PVT LTD S 106000 124.34
13/1/2010 531840 IEC Edu ABHISHEK VIJAYKUMAR SHAH B 122260 50.90
13/1/2010 531840 IEC Edu ABHISHEK VIJAYKUMAR SHAH S 122260 52.87
13/1/2010 531025 Inca Finlease RASHEL AGROTECH S 32386 84.69
13/1/2010 532072 Interworld Dig PRITI JAYESH SHAH B 325000 4.50
13/1/2010 523844 Invicta Meditek CHELLIAH JAYASEELAPANDIAN B 106000 10.22
13/1/2010 523844 Invicta Meditek ADITICON SERVICES INDIA PVTLTD B 200000 10.18
13/1/2010 523844 Invicta Meditek ABHISHEK CHANDAK B 50000 10.22
13/1/2010 523844 Invicta Meditek JAYASEELA CHELLIAH PANDIAN B 60000 10.22
13/1/2010 523844 Invicta Meditek MV GANESAN B 91400 10.17
13/1/2010 523844 Invicta Meditek ANIL GANPATLAL JAIN B 97000 10.21
13/1/2010 523844 Invicta Meditek SEEMA LOKESH KAPOOR S 35000 10.15
13/1/2010 523844 Invicta Meditek RAMACHANDRAN V S 270000 10.19
13/1/2010 523844 Invicta Meditek CHEMBRA ECONOMIC CONSULTANCY SERVICES LIMITED S 29000 10.22
13/1/2010 523844 Invicta Meditek UDBHAV HOLDINGS PVT LTD S 211090 10.22
13/1/2010 523844 Invicta Meditek N JAYAKUMAR NATARAJAN S 79000 10.22
13/1/2010 523467 Jai Mata Glass PANKAJ ARORA B 75000 2.60
13/1/2010 523467 Jai Mata Glass GANDHI SECURITIES & INVESTMENT PVT LTD B 300000 2.66
13/1/2010 523467 Jai Mata Glass GROWMORE PROPERTIES PVT LTD S 912641 2.63
13/1/2010 523467 Jai Mata Glass PANKAJ ARORA S 85299 2.65
13/1/2010 532283 Kaashyap Tech HITEN MEHTA B B 2864017 0.80
13/1/2010 530955 Kailash Ficom SHENTRACON TREXIM PVT LTD B 60000 79.51
13/1/2010 530955 Kailash Ficom PR VYAPAAR PRIVATE LIMITED B 182550 81.00
13/1/2010 530955 Kailash Ficom ALPANA MUNDRA B 100000 81.00
13/1/2010 530955 Kailash Ficom ASHOK KUMAR DUGAR S 70000 80.19
13/1/2010 530955 Kailash Ficom NISHANT GARODIA S 75000 81.00
13/1/2010 530255 KAY Power KAUSHALYA GARG B 73750 13.15
13/1/2010 530255 KAY Power B.S.KHANDELWAL B 107000 12.60
13/1/2010 530255 KAY Power KAUSHALYA GARG S 109000 12.60
13/1/2010 513693 KIC Metaliks CARWIN MERCANTILES PVT LTD B 45793 44.07
13/1/2010 504258 Lakshmi Elect VALLA KATI B 15651 252.17
13/1/2010 504258 Lakshmi Elect VALLA KATI S 15651 251.02
13/1/2010 531515 Mahan Inds YOGENDRA KUMAR GUPTA S 182000 38.45
13/1/2010 523704 Mastek BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED S 200000 400.00
13/1/2010 590111 MASTER SRIKANTH MIKKILINENI S 27709 63.80
13/1/2010 531942 Millennium Cyb SANTOSH ABHAYRAJ SHUKLA B 55420 3.92
13/1/2010 531942 Millennium Cyb SL GUPTAAND S 53720 3.92
13/1/2010 522235 Minal Engr SHAILESH RAVJIBHAI PATEL S 32500 17.85
13/1/2010 532553 MSK Projects LANDMARK CAPITAL MARKETS LTD B 125000 128.47
13/1/2010 532553 MSK Projects TRANSGLOBAL SECURITIES LTD. B 156983 126.01
13/1/2010 532553 MSK Projects OPG SECURITIES P LTD B 162228 128.24
13/1/2010 532553 MSK Projects JHAVERI SHAILESH A B 125000 124.04
13/1/2010 532553 MSK Projects TRANSGLOBAL SECURITIES LTD. S 156983 125.82
13/1/2010 532553 MSK Projects OPG SECURITIES P LTD S 162228 128.34
13/1/2010 519323 Murli Inds SMART EQUITY BROKERS PRIVATE LIMITED B 144545 377.29
13/1/2010 519323 Murli Inds OPG SECURITIES P LTD B 179198 383.44
13/1/2010 519323 Murli Inds SMART EQUITY BROKERS PRIVATE LIMITED S 144545 377.45
13/1/2010 519323 Murli Inds OPG SECURITIES P LTD S 179198 383.85
13/1/2010 531832 Nagarjuna Agri Tch J.F.S.L.ARBITRAGE & JOBBING A/C B 86400 6.10
13/1/2010 531832 Nagarjuna Agri Tch CARWIN MERCANTILES PVT LTD S 120300 6.10
13/1/2010 502893 Neemtek Org MATIYANI BALJEET B 10000 167.50
13/1/2010 502893 Neemtek Org AHMED CHANGAL AZIZ B 10000 156.75
13/1/2010 502893 Neemtek Org MATIYANI BALJEET S 10000 156.75
13/1/2010 502893 Neemtek Org AHMED CHANGAL AZIZ S 10000 167.50
13/1/2010 533015 Nu Tek India YAMINI SUPPLIERS PRIVATE LIMITED S 500000 43.95
13/1/2010 590090 Octant Inter INDIUM HOME CARE PRIVATE LTD S 280660 10.66
13/1/2010 532817 Oriental Trimex ABHISHEK VIJAYKUMAR SHAH B 210383 20.46
13/1/2010 532817 Oriental Trimex ABHISHEK VIJAYKUMAR SHAH S 249945 20.71
13/1/2010 511702 Parsharti Inv KRUPA SANJAY SONI S 18718 40.34
13/1/2010 511702 Parsharti Inv BHAVESH SHANTILAL TRIVEDI S 22994 40.00
13/1/2010 511702 Parsharti Inv PATEL SHAILESH JIVANLAL S 20200 40.05
13/1/2010 517417 Patels Airtmp KIRAN RAVINDRA KUMAR CHOUDHARY B 26286 80.54
13/1/2010 524136 Pee Cee Cosma FARNAZ JIMMY SINGANPORIYA B 10000 55.50
13/1/2010 524136 Pee Cee Cosma FARZAD PHAVEWALLA B 10000 59.83
13/1/2010 524136 Pee Cee Cosma FARNAZ JIMMY SINGANPORIYA S 10000 59.83
13/1/2010 524136 Pee Cee Cosma FARZAD PHAVEWALLA S 10000 55.50
13/1/2010 590077 Ranklin Sol SHALU KAPOOR B 33866 58.04
13/1/2010 590077 Ranklin Sol GUPTA MONA B 32800 60.33
13/1/2010 533083 RISHABHDEV CHIRAG SHASHIKANT TANNA B 125981 16.56
13/1/2010 533083 RISHABHDEV UMESH DHAN SINGH B 181940 16.29
13/1/2010 533083 RISHABHDEV GOPAL LAL MATHUR B 270000 16.00
13/1/2010 533083 RISHABHDEV YOGESH JAISWAL B 736794 16.55
13/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT B 209436 16.37
13/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD B 149000 16.40
13/1/2010 533083 RISHABHDEV OMPARKASH GUPTA B 148375 16.42
13/1/2010 533083 RISHABHDEV UMESH DHAN SINGH S 181940 16.18
13/1/2010 533083 RISHABHDEV KII LTD S 331229 15.57
13/1/2010 533083 RISHABHDEV GOPAL LAL MATHUR S 270000 16.69
13/1/2010 533083 RISHABHDEV YOGESH JAISWAL S 736794 16.29
13/1/2010 533083 RISHABHDEV ARIHANT SEC & INVESTMENT S 209436 16.29
13/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 239321 15.92
13/1/2010 533083 RISHABHDEV OMPARKASH GUPTA S 148375 16.63
13/1/2010 533083 RISHABHDEV KUVERA FUND LTD S 700000 16.40
13/1/2010 532663 Sasken Comm RELIANCE CAPITAL TRUSTEE CO LTD AC RELIANCE TAX SAVER ELSS FUND B 310000 185.06
13/1/2010 532663 Sasken Comm NORTEL NETWORKS MAURITIUS LTD S 419110 185.09
13/1/2010 505141 Scooters India ASMAH SHARES & STOCK BROKERS PVT LTD B 17502 43.80
13/1/2010 505141 Scooters India NEETA ASHOK GANDHI B 10000 43.04
13/1/2010 505141 Scooters India ABHISHEK VIJAYKUMAR SHAH B 390687 43.58
13/1/2010 505141 Scooters India ANGEL INFIN PRIVATE LIMITED B 40569 41.70
13/1/2010 505141 Scooters India PRABHUDAS LILLADHER P LTD. B 15321 44.62
13/1/2010 505141 Scooters India NARESH CHAND JAIN B 10500 43.60
13/1/2010 505141 Scooters India Naman Securities & Finance Pvt. Ltd. B 27310 43.54
13/1/2010 505141 Scooters India JMP SECURITIES PVT LTD B 15000 44.42
13/1/2010 505141 Scooters India AMOL RAMANLAL ZAVERI B 20097 41.85
13/1/2010 505141 Scooters India HETAL BHAVESH SHAH B 12020 42.31
13/1/2010 505141 Scooters India ARYA INVESTMENTS B 10000 43.85
13/1/2010 505141 Scooters India DYNAMIC STOCK BROKING INDIA PVT LTD B 21096 42.27
13/1/2010 505141 Scooters India JAYRAJ NIKANT KOTHI B 25000 43.24
13/1/2010 505141 Scooters India VIMAL VALLABHJI GALA B 10500 42.59
13/1/2010 505141 Scooters India ASMAH SHARES & STOCK BROKERS PVT LTD S 17502 43.83
13/1/2010 505141 Scooters India NEETA ASHOK GANDHI S 10000 43.00
13/1/2010 505141 Scooters India ABHISHEK VIJAYKUMAR SHAH S 390687 43.68
13/1/2010 505141 Scooters India GIRRAJ KUMAR MAHESHWARI S 10000 39.14
13/1/2010 505141 Scooters India ANGEL INFIN PRIVATE LIMITED S 47269 41.69
13/1/2010 505141 Scooters India PRABHUDAS LILLADHER P LTD. S 15321 44.44
13/1/2010 505141 Scooters India NARESH CHAND JAIN S 10500 43.95
13/1/2010 505141 Scooters India Naman Securities & Finance Pvt. Ltd. S 23758 43.57
13/1/2010 505141 Scooters India UDAI KUMAR AGARWAL S 14000 44.25
13/1/2010 505141 Scooters India JMP SECURITIES PVT LTD S 15000 43.52
13/1/2010 505141 Scooters India AMOL RAMANLAL ZAVERI S 18497 42.88
13/1/2010 505141 Scooters India HETAL BHAVESH SHAH S 14020 42.25
13/1/2010 505141 Scooters India KALPANA MADHANI SECURITIES PVT. LTD. S 12000 41.48
13/1/2010 505141 Scooters India SAFINA TOWERS PVT LT S 25000 38.55
13/1/2010 505141 Scooters India DYNAMIC STOCK BROKING INDIA PVT LTD S 23175 41.99
13/1/2010 505141 Scooters India JAYRAJ NIKANT KOTHI S 25000 42.93
13/1/2010 505141 Scooters India VIMAL VALLABHJI GALA S 10500 41.79
13/1/2010 530549 Shilpa Medicare ICICI PRUDENTIAL TRUST LTD B 113418 200.00
13/1/2010 530549 Shilpa Medicare PIVOTAL SEC P LTD B 245000 200.00
13/1/2010 530549 Shilpa Medicare STRATEGIC VENTURES FUND (MAURITIUS) LIMITED S 850000 200.08
13/1/2010 530549 Shilpa Medicare STRATEGIC VENTURES FUND (MAURITIUS) LTD. S 150000 200.49
13/1/2010 505827 SNL Bearings TECKNOPOINT MERCANTILE COMPANY PVT LTD S 36200 31.32
13/1/2010 532669 Southern Onlin GANESH KUMAR SINGHANIA S 500000 26.50
13/1/2010 502465 Speciality Pap MAN INDUSTRIES INDIA LTD B 100031 22.56
13/1/2010 502465 Speciality Pap MANISHA GOENKA S 44000 22.83
13/1/2010 502465 Speciality Pap VIMLADEVI GOENKA S 46000 22.31
13/1/2010 512413 Spectacle Inds VIVEK KISHANPAL SAMANT B 295000 83.54
13/1/2010 532531 Strides Arco ZENITH PHARAMACEVTICALS LIMITED S 1000000 235.12
13/1/2010 532348 Subex BARCLAYS CAPITAL MAURITIUS LIMITED S 250000 78.18
13/1/2010 590047 Sunderam Multi STANDARD CHARTERED BANK (MAURITIUS) LIMITED A/C EMERGING IND B 600000 45.50
13/1/2010 590047 Sunderam Multi ADIT G MEHTA S 600000 45.50
13/1/2010 530595 Telecanor Glob NISHANT RAJENDRAKUMAR SHAH S 30000 22.70
13/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. B 163239 418.04
13/1/2010 533121 THINKSOFT OPG SECURITIES P LTD B 70481 418.82
13/1/2010 533121 THINKSOFT A.K.G. STOCK BROKERS PVT. LTD. S 163239 417.93
13/1/2010 533121 THINKSOFT OPG SECURITIES P LTD S 70481 418.92
13/1/2010 526921 Twentyfirst Cent Mgt SIDDHARTH SUNDAR IYER B 59748 29.78
13/1/2010 531917 Twinstar Soft RAJESHKUMAR RAMESHBHAI PATEL S 197235 6.37
13/1/2010 500429 Uniphos Enter HDFC MUTUAL FUND S 204778 31.00
13/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 30529 389.14
13/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M B 40622 389.99
13/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR S 25530 389.52
13/1/2010 531249 Well Pack Papers PANDYA YAMINIBEN M S 39435 389.68
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 13 2010

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
13-JAN-2010,AMDIND,AMD Industries Limited,REGENT FINANCE CORPORATION PVT. LTD.,BUY,121954,38.62,-
13-JAN-2010,AMDIND,AMD Industries Limited,TRANSGLOBAL SECURITIES LTD.,BUY,147078,39.62,-
13-JAN-2010,AUTOLITIND,Autolite (India) Ltd,EMERGING INDIA FOCUS FUNDS,BUY,96292,36.00,-
13-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,ANGEL GLOBAL CAPITAL PRIVATE LIMITED,BUY,6700184,1.33,-
13-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,JMP SECURITIES PVT LTD,BUY,14216942,1.34,-
13-JAN-2010,CELESTIAL,Celestial Labs Limited,R.B.K. SHARE BROKING LTD.,BUY,56621,42.00,-
13-JAN-2010,CINEMAX,Cinemax India Limited,MERRILL LYNCH CAPITAL MARKETS ESPANA SA SV,BUY,309782,75.09,-
13-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,7307976,22.42,-
13-JAN-2010,LAOPALA,La Opala RG Limited,M/S TASHA TRAVELS Pvt. Ltd.,BUY,83533,40.06,-
13-JAN-2010,MASTEK,Mastek Ltd,AMANSA INVESTMENTS LIMITED,BUY,231824,399.94,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,GANDHI SECURITIES & INVESTMENT PVT. LTD.,BUY,2558,119.12,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,LANDMARK CAPITAL MARKETS LTD,BUY,125000,128.20,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,TRANSGLOBAL SECURITIES LTD.,BUY,142332,125.72,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,VISARIA SECURITIES PRIVATE LIMITED,BUY,150000,127.21,-
13-JAN-2010,NATNLSTEEL,NATIONAL STEEL AND AGRO I,PVT. LTD S.R CREDIT,BUY,240266,24.68,-
13-JAN-2010,NUTEK,Nu Tek India Limited,NETESOFT INDIA LIMITED,BUY,250000,44.22,-
13-JAN-2010,ORIENTALTL,Oriental Trimex Limited,NAM SECURITIES LTD.,BUY,3000,20.60,-
13-JAN-2010,ORIENTALTL,Oriental Trimex Limited,SHASHI KANT AGARWAL,BUY,86000,20.31,-
13-JAN-2010,SHILPAMED,Shilpa Medicare Ltd,ICICI PRUDENTIAL TRUST LIMITED,BUY,424351,200.00,-
13-JAN-2010,SHILPAMED,Shilpa Medicare Ltd,ICICI PRUDENTIAL TRUST LTD,BUY,242486,200.00,-
13-JAN-2010,STAR,Strides Arcolab Limited,RELIANCE CAPITAL ASSET MANAGEMENT LTD.,BUY,380000,235.50,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,207288,416.58,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,BUY,67793,416.73,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,BUY,68254,410.71,-
13-JAN-2010,TNPL,Tamil Nadu Newsprint ,JAIDEEP HALWASIYA,BUY,550495,86.07,-
13-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,2044135,20.97,-
13-JAN-2010,AMDIND,AMD Industries Limited,REGENT FINANCE CORPORATION PVT. LTD.,SELL,121954,38.85,-
13-JAN-2010,AMDIND,AMD Industries Limited,TRANSGLOBAL SECURITIES LTD.,SELL,147078,39.85,-
13-JAN-2010,AUTOLITIND,Autolite (India) Ltd,RHODES DIVERSIFIED,SELL,100000,36.00,-
13-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,ANGEL GLOBAL CAPITAL PRIVATE LIMITED,SELL,6750184,1.35,-
13-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,JMP SECURITIES PVT LTD,SELL,12268216,1.34,-
13-JAN-2010,BIRLACOT,Birla Cotsyn (India) Limi,MONEYWISE FINANCIAL SERVICES PRIVATE LTD,SELL,15000000,1.30,-
13-JAN-2010,CELESTIAL,Celestial Labs Limited,R.B.K. SHARE BROKING LTD.,SELL,45958,41.87,-
13-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,7040526,22.42,-
13-JAN-2010,MASTEK,Mastek Ltd,BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED,SELL,200000,400.00,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,GANDHI SECURITIES & INVESTMENT PVT. LTD.,SELL,120558,126.84,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,TRANSGLOBAL SECURITIES LTD.,SELL,140832,125.97,-
13-JAN-2010,MSKPROJ,MSK Projects (India) Limi,VISARIA SECURITIES PRIVATE LIMITED,SELL,45000,127.37,-
13-JAN-2010,NATNLSTEEL,NATIONAL STEEL AND AGRO I,PREMCHAND DHARAMPAL,SELL,245000,24.68,-
13-JAN-2010,NATNLSTEEL,NATIONAL STEEL AND AGRO I,PVT. LTD S.R CREDIT,SELL,266,24.61,-
13-JAN-2010,NUTEK,Nu Tek India Limited,YAMINI SUPPLIERS PRIVATE LIMITED,SELL,500000,44.06,-
13-JAN-2010,ORIENTALTL,Oriental Trimex Limited,NAM SECURITIES LTD.,SELL,76000,19.38,-
13-JAN-2010,ORIENTALTL,Oriental Trimex Limited,SHASHI KANT AGARWAL,SELL,9238,20.50,-
13-JAN-2010,RAMSARUP,Ramsarup Industries Limit,ASHISH JHUNJHUNWALA,SELL,300000,88.18,-
13-JAN-2010,SASKEN,Sasken Commu Techno Ltd,NORTEL NETWORKS MAURITIUS LTD,SELL,161000,185.17,-
13-JAN-2010,SHILPAMED,Shilpa Medicare Ltd,STRATEGIC VENTURES FUND (MAURITIUS) LIMITED,SELL,700000,200.07,-
13-JAN-2010,STAR,Strides Arcolab Limited,ZENITH PHARMACEUTICALS LTD.,SELL,1000000,235.67,-
13-JAN-2010,SUBEX,Subex Limited,BARCLAYS CAPITAL MAURITIUS LIMITED,SELL,397420,78.17,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,207288,417.07,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,CPR CAPITAL SERVICES LTD.,SELL,67793,417.19,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,PRASANN SHARES & SERVICES PRIVATE LIMITED,SELL,51000,409.70,-
13-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,REGENT FINANCE CORPORATION PVT. LTD.,SELL,68254,414.61,-
13-JAN-2010,TNPL,Tamil Nadu Newsprint ,JAIDEEP HALWASIYA,SELL,22995,88.35,-
13-JAN-2010,TODAYS,Todays Writing Products L,PAM PHARMACEUTICAL& ALLIED MACHINERYCO PVTLTD,SELL,105000,25.78,-
13-JAN-2010,UNIENTER,Uniphos Enterprises Limit,HDFC PRUDENCE FUND,SELL,150000,30.98,-
13-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,2028743,20.99,-

Market ends higher; Infosys, TCS hit all time high

The volatile trading session ended with gains. The key indices closed near day's high led by gains in software stocks, where sector giants Infosys and TCS touched an all time high today.
Market shrugged off weak global cues on expectations that Indian firms may report good earnings in the third quarter. The BSE 30-share Sensex rose 87.29 points or 0.50%, up close to 233.34 points from the day's low.
The market was volatile. The market opened on a weak note triggered by subdued Asian stocks after China's move to cool lending. It turned positive in morning trade. It again declined in early afternoon trade. However, it turned positive, recovering sharply to hit the fresh day's high in mid-afternoon trade on positive European stocks. Market extended gains in late trade.
High food price inflation may start moderating in seven to 10 days, following the measures unveiled by the government, Farm Minister Sharad Pawar said on Wednesday.
The Indian economy is expected to grow by around 7.75 % in the fiscal year to March 2010, but food price inflation is a major concern, the finance minister said on Wednesday. Pranab Mukherjee also said the government could unload surplus wheat and rice stocks for open market sale.
The industrial output grew at its fastest pace in two years in November, strengthening the case for the Reserve Bank of India (RBI) to tighten policy later this month to temper inflation expectations. The RBI, which reviews its quarterly policy on 29 January 2010, is expected raise banks' cash reserve ratio, the level of deposits that banks must keep in cash. India's industrial output grew at faster-than-expected 11.7 % in November from a year earlier, data showed on Tuesday. The December inflation data, due on 14 January 2010, will be the last important data for the RBI to gauge price pressures
Inflationary pressures seem to be plateauing on the food front, Subir Gokarn, one of RBI's deputy governors, said at a banking conference. Inflationary pressures are relatively concentrated on food and very clearly as (the) economy starts to grow start to utilise whatever slack capacity there is, the risk of food inflation spilling over to wider surge increases, he added.
The finance secretary Ashok Chawla was quoted as saying on Monday the ministry backs administrative steps to tame inflation and wants hike in policy rates only if food inflation escalates into general inflation. Montek Singh Ahluwalia, the deputy chairman of Planning Commission, said the industrial growth for the full 2009/10 would be well above last year's level, but inflation could moderate in the coming months. While government officials said the industrial output growth highlighted recovery was on course, RBI's Gokarn said the recovery is somewhat uneven.
Meanwhile, the government will give financial incentives to exports of around 2,000 products including those in engineering, electronics and chemicals, Trade Minister Anand Sharma said on Tuesday. The boost, to support a nascent recovery in India's exports sector, would cost upto an additional Rs 500 crore ($110 million) in the current fiscal year ending March.
In global news, European shares flip flopped on Wednesday. The key benchmark indices in France and UK were down by between 0.11% to 0.38%. But Germany's DAX rose 0.13%.
Stock markets and commodities fell in Asia on Wednesday after Beijing's surprise decision to raise banks' reserve requirements sparked concerns that China's rapid economic rebound would slow, curbing demand for natural resources and other imported goods from around the region. China's Shanghai Composite fell 3.09%. China will raise the proportion of deposits banks must set aside as reserves by 50 basis points starting 18 January 2010, the central bank said on its Web site last night. The key benchmark indices in Hong Kong, Japan, Indonesia, South Korea, Singapore and Taiwan fell by between 0.95% to 2.59%.
Trading in US index futures indicated the Dow could gain 4 points at opening trade on Wednesday, 13 January 2010.
U.S. stocks fell in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's weaker-than-expected results tempered optimism. Dow Jones industrial average fell 37.86 points, or 0.36 % to end at 10,626.13. The Standard & Poor's 500 Index was down 10.82 points, or 0.94 % at 1,136.16. The Nasdaq Composite Index was down 30.10 points, or 1.30 % at 2,282.31.
The U.S. Federal Reserve will have to raise interest rates as the economy improves or risk losing the public's confidence in its commitment to keeping inflation low and stable, Charles Plosser, president of the Philadelphia Federal Reserve Banksaid on Tuesday.
Charles Plosser, said expectations for future inflation are currently well-anchored, but warned that there is considerable uncertainty clouding the outlook for price pressures over the next two to five years
Closer home, the BSE 30-share Sensex rose 87.29 points or 0.50% at 17,509.80. The barometer index lost 146.05 points at the day's low of 17,276.46 in early trade. At the day's high of 17,528.31, Sensex rose 105.80 points in late trade.
The S&P CNX Nifty rose 23.55 points or 0.45% at 5233.95.
The BSE Mid-Cap index rose 0.60% and the BSE Small-Cap index rose 0.86%.
The market breadth, indicating the overall health of the market was strong. On BSE, 1692 shares advanced as compared with 1195 that declined. A total of 82 shares remained unchanged. The breadth flipped between the positive and negative since early trade.
BSE clocked a turnover of Rs 6504 crore lower than Rs 6203.09 crore on Tuesday 12 January 2010.
Among the 30-member Sensex pack, 15 fell while rest rose.
Index heavyweight Reliance Industries (RIL) rose 0.43% to Rs 1088.35. The stock was volatile. It hit a high of Rs 1091.95 and a low of Rs 1070. The firm raised $763 million through a block sale of 3.3 crore shares. RIL raised $763 million through a block sale of 3.3 crore shares on Monday, the country head of UBS Manisha Girotra said on Monday. Girotra also said the share sale at Rs 1050 each would be the last of block trades by the company for a while. UBS was the sole arranger for the trade.
Reliance, which is bidding for bankrupt LyondellBasell Industries, had previously sold treasury shares to state-owned insurer Life Insurance Corp of India raising $577 million last week. As per reports last week, Reliance had sweetened its offer to buy a controlling stake that valued LyondellBasell at $13.5 billion.
Shares of software outsourcers rose for the second straight day, with Infosys and TCS hitting an all-time today, after encouraging third quarter result from Infosys.
India's largest software services exporter TCS rose 5.23% to Rs 788.25, extending Tuesday's 4.88% gains. It hit an all time high of Rs 796 on the BSE on Wednesday.
India's third largest software services exporter Wipro rose 3.02% extending Tuesday's 4.89% gains. Its ADR rose 5.64% on Tuesday.
IT bellwether Infosys rose 3.82% to Rs 2686.25, extending Tuesday's 3.97% gains after better than expected third quarter result announced by the company on Tuesday. Infosys hit an all time high of Rs 2,700.10 on the BSE.
Infosys' ADR rose 5.14% on Tuesday. Infosys raised its full-year revenue and profit outlook after strong Q3 results and on improving trend for outsourcing orders. The company's consolidated net profit as per Indian accounting standards rose 2.72% to Rs 1582 crore on 2.8% rise in consolidated revenue to Rs 5741 crore in Q3 December 2009 over Q2 September 2009.
Infosys has raised earnings and revenue guidance for the year ending March 2010 (FY 2010) both in rupee and dollar terms. Infosys has forecast a 1.8% to 2% growth in consolidated dollar revenue for FY 2010 compared from a drop it had projected at the time of announcing Q2 September 2009 results. Infosys said FY 2010 consolidated revenue in dollar terms could rise to $4.75 billion to $4.76 billion, from $4.6 billion to $4.62 billion forecast earlier. The consolidated earnings per American depository share for the full year is seen rising 0.4% to $2.26, the company said in a statement.
Infosys CEO and managing director S. Gopalakrishnan said the global economic recovery seems to be led by the US and the financial services segment. Though IT budgets are expected to be flat in 2010, offshore outsourcing is expected to benefit from this recovery, he added. Chief Operating Officer S.D. Shibulal said the contribution to revenues from top ten clients grew by 12.2% during the quarter adding that Infosys' clients are taking decisions much faster.
Metal stocks reversed early losses. Hindalco Industries (up 2.63%), JSW Steel (up 1.10%), Jindal Saw (up 2.84%), Steel Authority of India (up 3.31%), Bhushan Steel (up 5.25%), rose.
Tata Steel, the world's eighth-largest steelmaker rose 2.16% on bargain hunting after falling for last two days. The company said on 5 January 2010 sales from its Indian operations rose 73% in December 2009 to 636,000 tonnes from a year earlier. The Indian operations account for about a quarter of the group's total annual global capacity of 30 million tonnes, which includes unit Corus, Europe's second-largest steelmaker.
Most auto stocks fell on profit taking after the recent surge. India's largest tractor marker by sales Mahindra & Mahindra (M&M) fell 2.91%. M&M marked its entry into the heavy commercial vehicle (HCV) segment with its unveiling of 25 and 31 tonne trucks with its US-based joint venture partner Navistar Inc.
Mahindra & Mahindra, reported 122% rise in its domestic sales to 22,754 units in December 2009 over December 2008. The company sold a total of 24,001 vehicles (domestic plus exports) in December 2009 as against 11,172 vehicles sold in December 2008.
India's largest car maker by sales Maruti Suzuki fell 0.92%. The company is considering to raise prices of its vehicles in about two weeks time, Commercial Business Head S.N. Burman said on Wednesday. Maruti Suzuki's managing director and chief executive officer, Shinzo Nakanishi was quoted by the media as saying on 5 January 2010 that the company will see flat to lower exports next year because of the scrappage of incentives by Europe. He also said there would be lower offtake from Nissan for exports as a result of the removal of incentives.
Nakanishi said the company aims to keep operating margins at 10% in fiscal year 2009/10 but profitability will be impacted by a rise in raw material prices and a rise in the yen.
Maruti Suzuki India reported 50.6% increase in total vehicle sales to 84,804 units in December 2009 over December 2008. Domestic sales rose 36.5% to 71,000 units, while exports surged 223.7% to 13,804 units.
India's largest motorcycle maker by sales Hero Honda Motors fell 1.05%. Hero Honda will comfortably exceed its fiscal 2009/10 sales target of 40 lakh units, its managing director Pawan Munjal said to media on 7 January 2010. Sales jumped 74% to 375,838 units in December 2009 over December 2008.
India's top truck maker by sales Tata Motors was almost flat. Tata Motors has raised prices of some truck and bus models in January 2010 by about 1%. The company expects commercial vehicle sales to remain strong in the next 12 months. The company's chairman Ratan Tata said on 5 January 2010 that the company may consider launching its ultra-cheap Nano car in the United States in three years, following possible sales in Europe by the end of 2011.
Tata Motors registered 105% growth in sales to 51,627 units in December 2009 over December 2008.
Bajaj Auto inched up 0.83%. Its net profit surged 189.20% to Rs 507.29 crore on 57.9% spurt in net sales to Rs 3165.84 crore in Q3 December 2009 over Q3 December 2008.
TVS Motors rose 1.04%. Sales rose 34% to 119,701 units in December 2009 over December 2008.
Banswara Syntex jumped 13.58%, after the company bagged an order for supply of 3-layer water proof breathable fabrics for an undislcosed sum
Rural Electrification Corporation gained 1.43%, after net profit surged 48.78% to Rs 474.07 in Q3 December 2009 over Q3 December 2008.
Cals Refineries reported a highest volume of 6.26 crore shares on the BSE. Himachal Futuristic Communication (4.26 crore shares), GTL Infrastructure (1.50 crore shares), Mahindra Satyam (1.03 crore shares), and Ispat Industries (1.02 crore shares), were the other volume toppers on the BSE.
Infosys Technologies clocked a highest turnover of Rs 182.31 crore on the BSE. Reliance Industries (Rs 180.57 crore), Tata Steel (Rs 170.99 crore), Mahindra Satyam (Rs 120.16 crore), and State Bank of India (Rs 111.06 crore), were the other turnover toppers on the BSE.

Grey Market Premium - Jubilant Food Works, Infinite Computer Solutions

Company Name

Offer Price

(Rs.)

Premium

(Rs.)

Infinite Computer

155 to 165

38 to 40

Birla Shloka

45 to 50

4 to 5

Jubilant Food Works Ltd.

--

--

Market may extend Tuesday's fall on weak Asian stocks

vely concentrated on food and very clearly as (the) economy starts to grow start to utilise whatever slack capacity there is, the risk of food inflation spilling over to wider surge increases," he added.
The finance secretary Ashok Chawla was quoted as saying on Monday the ministry backs administrative steps to tame inflation and wants hike in policy rates only if food inflation escalates into general inflation. Montek Singh Ahluwalia, the deputy chairman of Planning Commission, said the industrial growth for the full 2009/10 would be well above last year's level, but inflation could moderate in the coming months.While government officials said the industrial output growth highlighted recovery was on course, RBI's Gokarn said the recovery is somewhat uneven.
Meanwhile, the government will give financial incentives to exports of around 2,000 products including those in engineering, electronics and chemicals, Trade Minister Anand Sharma said on Tuesday. The boost, to support a nascent recovery in India's exports sector, would cost upto an additional Rs 500 crore ($110 million) in the current fiscal year ending March.
In global news, Asian stocks fell for the first time in four days on Wednesday led by mining companies, after China moved to cool lending and commodity prices dropped. China's Shanghai Composite fell 2.28%. China will raise the proportion of deposits banks must set aside as reserves by 50 basis points starting 18 January 2010, the central bank said on its Web site last night. The key benchmark indices in Hogn Kong, Japan, Indonesia, South Korea, Singapore and Taiwan fell by between 0.58% to 2.04%.
U.S. stocks fell in a broad selloff on Tuesday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa Inc's weaker-than-expected results tempered optimism. Dow Jones industrial average fell 37.86 points, or 0.36 % to end at 10,626.13. The Standard & Poor's 500 Index was down 10.82 points, or 0.94 % at 1,136.16. The Nasdaq Composite Index was down 30.10 points, or 1.30 % at 2,282.31.
The U.S. Federal Reserve will have to raise interest rates as the economy improves or risk losing the public's confidence in its commitment to keeping inflation low and stable, Charles Plosser, president of the Philadelphia Federal Reserve Banksaid on Tuesday.
Charles Plosser, said expectations for future inflation are currently "well-anchored," but warned that there is "considerable uncertainty" clouding the outlook for price pressures over the next two to five years
Closer home, the market declined on Tuesday, shrugging off better-than-expected industrial production data for November 2009. Investors chucked shares due to fears that a robust industrial production data and a recent surge in inflation will provoke India's central bank to tighten monetary policy. The BSE 30-share Sensex fell 104.20 points or 0.59% at 17,422.51 on that day.
As per provisional figures on NSE, foreign funds sold shares worth Rs 362.76 crore and domestic funds bought shares worth Rs 454.86 crore on that day.

Market may open lower

Headlines for the day
Infosys raises outlook for full year on higher Q3 net: The Hindu Business Line
Export push gets Rs500 crore duty sops: The Hindu Business Line
Industrial Growth at 2 year high on durable stimulus: Business Standard
Bharti to buy 70% of Warid: : Business Standard
Industrial growth at 2-yr high on durable stimulus - Business Standard
Events for the day
Major corporate action:
Today’s Results: Bajaj Holding & Investments Ltd, Rural Electrification Corporation, Sintex Industries, Supreme Industries & Tata Metaliks.
Pre-market report
Global signals
European Markets closed lower on Tuesday as a disappointing start of earning season on US. FTSE 100 closed 0.71% lower at 5499.
On Tuesday, US markets closed lower as Alcoa’s disappointing results raise concerns about the economic recovery. Nasdaq closed lower by 1.30% to closed at 2282.
Among the Asian indices, all the Asian indices are trading in negative territory in morning trade. At the time of writing of this report, SGX Nifty is trading 21 points lower.
Indian markets
Following the weak global markets, the domestic indices are expected to open lower and may remain volatile.
Among the local indices, the Nifty could test the 5275-5300 range on the up side, while on the down side it could find support at 5180 and 5200. While the Sensex is likely to get support at 17300 and may face resistance at 17800.
Indian ADR's
Indian ADRs trading on the US bourses showed the mixed trend on Tuesday, among gainers Wipro and Infosys surged by over 5% each. On other hand MTNL & HDFC Bank fell by over 5% each.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded declined, with the Nymex light crude oil for February series sheds by $1.04 to settle at $81.48 a barrel.
In the metals space, Comex Gold for February series declines by $22.10 to settle at $1129.30 to a troy ounce.
In the metals space, Comex Silver for March series rise by $0.34 to settle at $18.36 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 12, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs4744.00 crore (with the gross purchase of Rs7538.60 crore and gross sales of Rs2794.60 crore).
While the Domestic mutual funds, on January 11, 2010, were the net sellers of the stocks in the tune of Rs55.10 crore (with gross purchase of Rs840.50 crore and gross sales of Rs785.40 crore).

US stocks linger in the red

Alcoa's earning report weighs on US stocks
An earning miss from Alcoa last evening weighed on US stocks since the very start of the day on Tuesday, 12 January 2010. Broad-based losses ensued and left the stock market mired in weakness. In addition, commodities and technology stock also lingered in the red thereby providing no absolute support to the broader market.
At the end of the day on Tuesday, 12 January, 2010, the Dow Jones Industrial Average ended lower by 36.73 points at 10,627.26. Nasdaq ended lower by 30.1 points at 2282.3. S&P 500 ended lower by 10.76 points at 1136.22. Earlier in the day, Dow was down by almost 83 points.
Nine of ten economic sectors ended in the red led by materials, financial and technology sectors.
Alcoa, Bank of America, Chevron, and Caterpillar were the main Dow components that led Dow's decline today. On the other hand, Dow components like Procter and Gamble, Johnson & Johnson and IBM tried to provide some support.
Though Infosys Technologies posted better than expected results for the latest quarter and went on to issue an upside forecast, weakness continued to dog large-cap tech issues as a whole. Their losses caused the Nasdaq Composite to underperform its counterparts in recent sessions and left the Nasdaq 100 worse off. Big names such as Google and Intel weighed on the sector.
Consumer staples sector tried to support the Dow after its key component Procter & Gamble was upgraded by analysts at Bank of America's Merrill Lynch. But Colgate and Palmolive saw a downgrade.
After yesterday's close, Alcoa kicked off the earnings session reporting its fourth quarter earnings which it missed. As per the company, "This was a tough year for the aluminum industry - a price crash, demand destruction, and credit crunch. Yet, today Alcoa is stronger than when the year started." The company posted a $277 million loss with lower sales in its construction, aerospace, commercial building, and gas-turbine markets. The same dragged on the metals and mining players. The weakness dragged the materials sector also.
A profit warning also came from Chevron, the energy giant, which also led stocks tumble today.
Crude oil prices ended substantially lower on Tuesday, 12 January 2010. Prices fell on demand concerns as China signaled a bias to tighten monetary conditions recently. Crude also fell as traders focused on the fact that crude's recent gains were overdone as extreme cold temperature is expected to give way to some warmer temperature in the next few weeks.
On Tuesday, crude-oil futures for light sweet crude for February delivery closed at $80.4/barrel (lower by $2.12 or 2.6%). Earlier during the day, prices fell to a low of $84.26. Crude ended last week higher by 4.3%. On a year to date basis till date, crude is higher by 1.4%.
In its monthly short-term outlook, EIA reported today that West Texas crude-oil prices, which averaged about $62 a barrel last year, will average about $79.83 this year and about $83.5 in 2011. Prices should average $77 in the first quarter and $85 in the fourth quarter this year. The forecast assumes U.S. growth of 2% this year and 2.7% in 2011. In its December outlook, the EIA forecast that world oil consumption will grow in 2010 by 1.1 million barrels a day to put the total daily figure at 85.2 million barrels.
In the currency market on Tuesday, the dollar index, which weighs the strength of dollar against the basket of six other currencies fell by almost 0.2%. Earlier in the day, it rose by almost 0.4%.
Indian ADRs ended mixed on Tuesday. The technology ADRs were big gainers. Wipro Tech and Infosys soared by 5.6% and 5% respectively. HDFC Bank and ICICI Bank were the largest losers shedding 5.2% and 4.2% respectively.
Earnings reports will start to pick up next week mainly. Tomorrow, there are no economic or earning data expected.