NSE Bulk Deals to Watch - Sep 11 2009

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
11-SEP-2009,ARCHIES,Archies Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,55856,110.47,-
11-SEP-2009,ARCHIES,Archies Limited,BHAVIN Y MEHTA,BUY,80408,110.02,-
11-SEP-2009,ARCHIES,Archies Limited,BP FINTRADE PRIVATE LIMITED,BUY,55136,110.04,-
11-SEP-2009,ARCHIES,Archies Limited,SETU SECURITIES LTD,BUY,47155,110.53,-
11-SEP-2009,ARCHIES,Archies Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,BUY,61146,110.52,-
11-SEP-2009,DHANBANK,The Dhanalakshmi Bank Ltd,EDELCAP SECURITIES LTD.,BUY,352000,156.22,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,CPR CAPITAL SERVICES LTD.,BUY,332363,69.62,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,JATIN LAXMIKANT TRIVEDI,BUY,576398,68.69,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,MITHUN SECURITIES PVT. LTD.,BUY,115246,73.00,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,SHIPRA FRABIC PVT LTD,BUY,120620,71.15,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,SMART EQUITY BROKERS PRIVATE LIMITED,BUY,132020,73.62,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,BUY,122261,66.29,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,TRANSGLOBAL SECURITIES LTD.,BUY,165840,72.47,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,VIJAY CHIMANLAL THAKKAR,BUY,123936,67.56,-
11-SEP-2009,IFCI,IFCI Ltd.,ADROIT SHARE & STOCK BROKER PVT. LTD.,BUY,4271473,57.81,-
11-SEP-2009,LUMAXIND,Lumax Industries Ltd,SETU SECURITIES LTD,BUY,54350,201.59,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,ADELIA THERESA RODRIGUES,BUY,94802,40.53,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,BUY,127028,41.80,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,NAMAN SECURITIES & FINANCE PVT. LTD,BUY,133666,40.70,-
11-SEP-2009,OUDHSUG,The Oudh Sugar Mills Ltd,UTTAR PRADESH TRADING CO LTD,BUY,125800,76.28,-
11-SEP-2009,RAJTV,Raj Television Network Li,NIKON FINLEASE PVT. LTD,BUY,70043,80.64,-
11-SEP-2009,RAJTV,Raj Television Network Li,OM INVESTMENTS,BUY,222328,80.19,-
11-SEP-2009,RAJTV,Raj Television Network Li,TRANSGLOBAL SECURITIES LTD.,BUY,187415,80.95,-
11-SEP-2009,SRTRANSFIN,Shriram Trans Fin Co. Ltd,SLOANE ROBINSON LLP (SLOANE CLASS B ASIA),BUY,1639461,374.99,-
11-SEP-2009,SRTRANSFIN,Shriram Trans Fin Co. Ltd,SLOANE ROBINSON LLP (SLOANE S R GLO F EMER),BUY,2121985,374.99,-
11-SEP-2009,VARUN,Varun Industries Limited,SETU SECURITIES LTD,BUY,145211,188.47,-
11-SEP-2009,ARCHIES,Archies Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,45092,110.14,-
11-SEP-2009,ARCHIES,Archies Limited,BHAVIN Y MEHTA,SELL,80408,110.48,-
11-SEP-2009,ARCHIES,Archies Limited,BP FINTRADE PRIVATE LIMITED,SELL,49146,109.62,-
11-SEP-2009,ARCHIES,Archies Limited,SETU SECURITIES LTD,SELL,44727,110.39,-
11-SEP-2009,ARCHIES,Archies Limited,VIJIT SHARES AND COMMODITIES PVT.LTD.,SELL,43146,110.55,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,CPR CAPITAL SERVICES LTD.,SELL,332363,69.63,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,JATIN LAXMIKANT TRIVEDI,SELL,576398,63.11,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,MITHUN SECURITIES PVT. LTD.,SELL,115246,72.94,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,SHIPRA FRABIC PVT LTD,SELL,120620,66.71,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,SMART EQUITY BROKERS PRIVATE LIMITED,SELL,132020,73.70,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,STANDARD SECURITIES & INVESTMENT INTERMEDIATES LIMITED,SELL,122261,66.79,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,TRANSGLOBAL SECURITIES LTD.,SELL,167340,72.48,-
11-SEP-2009,EXCELINFO,Excel Infoways Limited,VIJAY CHIMANLAL THAKKAR,SELL,129898,68.49,-
11-SEP-2009,IFCI,IFCI Ltd.,ADROIT SHARE & STOCK BROKER PVT. LTD.,SELL,4255713,57.76,-
11-SEP-2009,LUMAXIND,Lumax Industries Ltd,SETU SECURITIES LTD,SELL,18638,193.74,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,ADELIA THERESA RODRIGUES,SELL,100302,39.67,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,AJAY ASSET MANAGEMENT PRIVATE LIMITED,SELL,74528,40.91,-
11-SEP-2009,MRO-TEK,MRO-TEK Limited,NAMAN SECURITIES & FINANCE PVT. LTD,SELL,126447,40.55,-
11-SEP-2009,OUDHSUG,The Oudh Sugar Mills Ltd,NEW INDIA RETAILING & INVESTMENT LIMITED,SELL,125000,76.28,-
11-SEP-2009,RAJTV,Raj Television Network Li,NIKON FINLEASE PVT. LTD,SELL,70043,80.53,-
11-SEP-2009,RAJTV,Raj Television Network Li,OM INVESTMENTS,SELL,222328,80.28,-
11-SEP-2009,RAJTV,Raj Television Network Li,TRANSGLOBAL SECURITIES LTD.,SELL,186415,80.72,-
11-SEP-2009,SKUMARSYNF,S. Kumars Nationwide Ltd,CITIGROUP GLOBAL MARKET MAURITIUS PVT.LTD.,SELL,1500000,49.01,-
11-SEP-2009,SRTRANSFIN,Shriram Trans Fin Co. Ltd,UNO INVESTMENTS,SELL,5792479,375.00,-
11-SEP-2009,VARUN,Varun Industries Limited,SETU SECURITIES LTD,SELL,173812,188.67,-

Global stocks, foreign fund flows to dictate trend

Key benchmark indices are likely to see a consolidation in the forthcoming week in absence of any major near term trigger. Profit booking may emerge after the recent rally on the bourses, which propelled the key benchmark indices to a 15-months high. Besides movements in global markets, foreign funds activity and progress of India's monsoon may continue to influence sentiment on the domestic bourses.
Indices have been on a roll recently following the revival in India's monsoon and firm global stocks. The BSE 30-share Sensex gained 3.67% in the week ended Friday, 11 September 2009 to 15,689.12, its highest closing since 30 May 2008. The S&P CNX Nifty rose 3.18% to 4829.55, its highest closing since 30 May 2008.
Meanwhile, the revival in monsoon has lifted sentiment. Rainfall was 21% above average in the week to 9 September 2009 continuing the upturn since mid-August, the India Meteorological Department said on 10 September 2009. The deficit for the June- September season narrowed to 20% from 23% a week earlier, the weather bureau said.
More than two-thirds of the people live in villages and 60 % of the farm land depends on the annual rains. Higher rainfall in the past week has helped India's 81 biggest reservoirs fill up much faster than normal for this time of year. Reservoirs are important for hydropower, which accounts for a quarter of India's generation capacity. They also provide water to irrigate winter crops.
Markets have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. The Sensex is up 6616.99 points or 68.58% in calendar year 2009 as on 11 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8103.90 points or 99.30% as on 11 September 2009.
Foreign funds have been the key drivers of the recent rally. Their inflow in August 2009 totaled Rs 2,172.10 crore (till 10 September 2009). Their inflow in calendar year 2009 totaled Rs 42,370.60 crore.
Industrial growth rose for a seventh straight month in July 2009 over the previous year on higher government spending and lower borrowing costs, government data showed on 11 September 2009. However growth rose at a slower pace in July as compared with the previous month, indicating a slowdown.
India's index of industrial production (IIP) rose 6.8% in July 2009 from a year earlier, slower than the revised June's increase to 8.2%. India's economy had risen at a 6.9% pace in July 2008.
With economy getting back on track, the government expects GDP growth to accelerate to over 8% in 2010-11 boosted by the stimulus packages. The finance minister expects economy to expand more than 6% in the current fiscal despite scanty monsoon. This has given rise to fears of monetary tightening.
The Reserve Bank of India (RBI) had on 28 July 2009 left the reverse-repo rate unchanged at 3.25% and kept the repo rate at 4.75%. Earlier, the central bank had cut interest rates six times from October 2008 to April 2009 to boost the sagging economy. Industrial growth had dipped to 6.7% in 2008-09 after over 9% growth in the previous three years with the global economic meltdown casting its shadow on the economy
The wholesale price index (WPI) fell 0.12% in the year through 29 August 2009, lower than an annual decline of 0.21% in the previous week, data released by the government showed on 10 September 2009.
Economists expect inflation to rise to 5 to 6% by the end of the fiscal year March 2010 on the back of rise in commodity prices and revival in demand, above the central bank's projection of 5%.
India's finance minister Pranab Mukherjee on 7 September 2009 said that a growth is likely in the second and third quarter of the current fiscal due to fall in agricultural growth. He was a little doubtful of the 6.1% expansion achieved during the first quarter of this fiscal. The economy will not grow at the pace it did in April-June period, but that does not warrant a downward revision of growth forecast.
Global markets have been on a buoyant note with the US markets hitting fresh 2009 highs in intra-day trade on 10 September 2009 after the US Federal Reserve's latest survey of businesses in US found economic activity stabilizing or improving in most regions.
Emerging stocks hit fresh one-year highs on 11 September 2009 with buoyant Chinese economic data adding to optimism generated by G20 governments' pledges to keep monetary policy accommodative.

Sensex gains 5.62% in last six days

The key benchmark indices extended gains for the sixth straight day on positive global stocks and industrial output data which came in as expected. The BSE 30-share Sensex rose 47.44 points or 0.29%, off close to 100 points from the day's high and up close to 135 points from the day's low. Realty, auto and FMCG stocks fell. Banking and IT stocks rose. Index heavyweight Reliance Industries recovered in volatile trade. The market breadth was weak.
The market was volatile. It pared gains after firm start triggered by strong global cues. Market later hovered between positive and negative terrain but closed in the green. The similar trend was witnessed on Thursday.
India's industrial output data for the month of July 2009 showed growth of 6.8% compared with 6.9% growth in the same month last year data showed at 12:00 IST today. The industrial output for the month of June 2009 revised higher to 8.2%.
The Indian economy is unlikely to revert to its trend growth rate soon as recession in advanced economies would eat into global growth and world trade, Reserve Bank of India (RBI) deputy governor Usha Thorat said on Friday.
India's industrial growth will continue to show rising momentum, Finance Secretary Ashok Chawla said today.
The weather office said on Thursday rainfall was 21 % above average in the week to 9 September 2009 continuing the upturn since mid-August but total seasonal rainfall was a fifth short of normal since the season began with the driest June in eight decades. More than two-thirds of the people live in villages and 60 % of the farm land depends on the annual rains.Higher rainfall in the past week has helped India's 81 biggest reservoirs fill up much faster than normal for this time of year. Reservoirs are important for hydropower, which accounts for a quarter of India's generation capacity. They also provide water to irrigate winter crops.
The wholesale price index (WPI) fell 0.12% in the year through 29 August 2009, lower than an annual decline of 0.21% in the previous week, data released by the government showed on Thursday. The food article index surged 14.8%.
Analysts are concerned that a sharp surge in food prices in the past few days due to scanty rains may stoke inflationary pressures in the economy. Interest rates could rise on higher inflation which in turn may impact a nascent economic recovery and corporate profits.
Meanwhile, foreign direct investment (FDI) flows into India in July 2009 were up 56 % from the same month in 2008. FDI flows into India were $3.5 billion in July, up from $2.25 billion a year earlier, Trade Minister Anand Sharma said on Thursday.
Liquidity continues to support share prices and oversubscription to the Oil India initial public offering is a testimony to that. The Oil India IPO which opened for bidding on 7 September 2009, was subscribed 30.82 times. The issue was closed on 10 September 2009. The government has fixed Rs 950-1,050 per share price band for the initial public offering of Oil India (OIL), the second state-run firm to hit the market this year after NHPC, and will raise up to Rs 2,777 crore.
The strong response to Oil India IPO was despite a muted debut of another state-run firm NHPC on the secondary markets early this month.
European equities advanced for a sixth straight session to hit a new 11-month high on Friday, with financial shares extending recent gains and energy stocks following stronger crude oil prices. The key benchmark indices in France, Germany and UK were up by between 0.55% to 0.75%.
Asian shares edged up on Friday as strong Chinese economic data supported regional recovery hopes. The key benchmark indices in Hong Kong, South Korea, Taiwan rose by between 0.07% to 0.44%.
China's Shanghai Composite rose 2.22%. China's industrial production grew at a faster pace in August, signaling a strengthening recovery in the world's third-biggest economy. Output gained 12.3 % from a year earlier, after climbing 10.8 % in July, the statistics bureau said in Beijing today
But, Japan's Nikkei fell 0.66%. Japan's economy unexpectedly grew less than initially estimated in the second quarter. Gross domestic product expanded at an annual 2.3 % pace in the three months ended 30 June 2009, slower than the 3.7 % reported as per preliminary estimate, the Cabinet Office said today in Tokyo.
Trading in US index futures indicated Dow could open flat at the opening bell today, 11 September 2009.
The US markets touched fresh 2009 highs on Thursday, 10 September 2009 after jobless claims slid to the lowest level since July. The Dow added 80.26 points, or 0.8%, to 9,627.48. The S&P 500 index rose 10.77 points, or 1%, to 1,044.14. The Nasdaq Composite Index rose 23.63 points, or 1.2%, to 2,084.02.
From the economic data front initial claims for unemployment fell more than expected to 5,50,000 last week while continuing claims also dropped more than estimates to 6.09 million. Meanwhile, trade deficit expanded for the second straight month to a greater-than-expected $ 32 billion in July 2009.
The BSE 30-share Sensex rose 47.44 points or 0.29% to 16,264.30. The Sensex rose 121.12 points the day's high of 16,337.98 in early trade. The barometer index fell 86.54 points at the day's low of 16,130.32 in late trade.
The S&P CNX Nifty rose 10.15 points or 0.21% to 4829.55. Nifty September 2009 futures were at 4847.60 at a premium of 18.05 points as compared to the spot closing of 4829.55. Turnover in NSE's futures & options (F&O) segment was Rs 61,648.13 crore, much lower than Rs 75,583.39 crore on Thursday, 10 September 2009.
BSE clocked a turnover of Rs 5678 crore lower than Rs 6720.80 crore on Thursday, 10 September 2009.
The market breadth indicating the overall health of the market, turned weak from strong breadth in early trade. On BSE, 1069 shares rose as compared with 1713 that declined. A total of 80 shares remained unchanged.
Among the 30-member Sensex pack, 10 rose while the rest declined.
The Sensex has jumped 865.97 points or 5.62% in six trading days to 16,264.30 on 11 September 2009 from a recent low of 15,398.33 on 3 September 2009 as a revival of monsoon rains, strong response to the initial public offer of Oil India and firm global stocks boosted sentiments.
Stocks have risen sharply this year on increased global risk appetite triggered by hopes of a recovery in the global economy after a setback from a financial sector crisis. The Sensex is up 6616.99 points or 68.58% in calendar year 2009 as on 11 September 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex is up 8103.90 points or 99.3% as on 11 September 2009. FII inflow in calendar year 2009 totaled Rs 42,370.60 crore (till 10 September 2009).
Coming back to today's trade, the BSE Mid-Cap index fell 0.13% and the BSE Small-Cap index fell 0.38%. Both the indices underperformed Sensex.
The BSE Consumer Durables index (up 1.79%), the BSE PSU index (up 1.52%), the BSE Bankex (up 1.47%), the BSE IT index (up 1.11%), the BSE Teck index (up 0.68%), the BSE Capital Goods index (up 0.6%), outperformed the Sensex.
The BSE Realty index (down 1.63%), the BSE FMCG index (down 1.18%), the BSE Oil & Gas index (down 0.71%), the BSE Auto index (down 0.6%), the BSE Metal index (down 0.38%), the BSE Power index (down 0.31%), the BSE Healthcare index (don 0.26%), underperformed the Sensex.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) fell 0.38% to Rs 2140.95 on profit taking after recent surge. The stock came off the day's high of Rs 2170. Anil Ambani group firm Reliance Natural Resources (RNRL) on Wednesday told the Supreme Court that the government has no role to play either in the utilisation or the fixation of gas price as per its contract with Mukesh-led RIL.
The two sides RIL and RNRL had approached Supreme Court challenging a decision by the Bombay High Court on 15 June 2009, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $ 2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month. RIL, however, is pleading that it was only a contractor for the gas from the Krishna-Godavari basin's D6 block and did not have the power to fix the price, while the government has also moved a special leave petition in the case asserting its right on pricing and distribution of natural gas. The apex court has decided to commence hearing on this matter on 20 October.
A rally in crude oil failed to lift oil exploration counters. India's biggest state-run oil exploration firm by revenue Oil & Natural Gas Corporation (ONGC) fell 0.35%. Cairn India fell 0.19%. Rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.
Crude oil was flat after early gains as industrial production in China, the world's second-biggest energy user, grew at a faster pace than forecast. Crude oil for October delivery was flat at $ 71.91 a barrel on the New York Mercantile Exchange.
IT stocks rose on hopes of faster recovery in US economy. US is the biggest market for Indian IT companies. India's second largest software services exporter by sales Infosys rose 1.38% as its ADR rose 0.77% on Thursday, 10 September 2009. India's third largest software services exporter by sales Wipro rose 1.53% even on 0.3% fall in its ADR on 10 September 2009.
India's largest software services exporter by sales Tata Consultancy Services rose 0.58%. TCS's Chief Executive S. Ramadorai on 7 September 2009 said TCS is seeing stability on the ground and the company's demand pipeline is good.
Realty stocks fell on profit taking after recent surge. DLF, Unitech, , Indiabulls Real Estate, Ackruti City fell by between 1.07% to 2.47%.
The stocks surged recently triggered by reports prices of residential units in key regions like New Delhi-NCR (National Capital Region) and Mumbai have risen 10-15% on gradual return of residential property buyers.
The demand for residential projects in major cities is picking up on lower home loan rates, property price cuts by developers and a recovery in the job market. Realty market had slumped last year amid a global credit crunch and buyers fearing job losses.
India's largest copper maker by sales Sterlite Industries fell 2.71% after company on Friday said it had raised its open offer price for bankrupt U.S. copper miner Asarco by a fifth to $2.565 billion.Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for the assets of Asarco, which has been under bankruptcy protection since 2005.The stock was the major loser from the Sensex pack.
But other metal stocks rose hopes of strong domestic demand. Hindalco Industries, National Aluminum Company, Hindustan Zinc, Steel Authority of India rose by between 0.11% to 5.98%.
Some FMCG pivotals fell on concerns over scanty rains so far this year. FMCG firms derive substantial revenue from the rural sector . Marico , REI Agro, Dabur India, Tata Tea, Nestle India, ITC, Hindustan Unilever fell by between 0.37% to 3.18%.
Auto stocks fell on profit taking. India's top small car maker by sales Maruti Suzuki fell 1.56%.
Two-wheeler makers were mixed. India's largest bike maker by sales Hero Honda Motors fell 1.53%. India's second largest bike maker by sales Bajaj Auto rose 3.21%.
India's largest truck maker by sales Tata Motors fell 2.26%.
India's largest tractor maker by sales Mahindra & Mahindra fell 0.21%. The president of company's two-wheeler business Anoop Mathur said on Thursday, 10 September 2009 at the launch of two new scooters that Mahindra & Mahindra (M&M) expects to sell 100,000 two-wheelers in the next 18 months, Mahindra entered the two-wheeler segment with the acquisition of Kinetic Motor last year.
Seperately, some reports suggested that M&M is considering a greenfield expansion to ramp up its production capacity for two-wheelers. It is looking at tax-free states such as Himachal Pradesh and Uttarakhand.
Car sales rose 26% to 120,669 units in August 2009 over August 2008 boosted by new launches and availability of cheaper loans, data released by the industry body Society of Indian Automobile Manufacturers on 8 September 2009, showed. Sales of trucks and buses rose 18.5% to 40,624 units and motorcycle sales rose 26% to 611,173 units.
Banking shares rose on hopes a recovery in the economy will boost lending growth. India's largest private sector bank by net profit ICICI Bank rose 2.47%. The bank's managing director Chanda Kochhar said on 8 September 2009 credit growth in India is likely to pick up in the second half of this year.
India's largest bank by net profit and branch network State Bank of India rose 2.1%. Chairman O.P. Bhatt on 8 September 2009 said the bank's earnings are likely to grow 30-35% in the current quarter. SBI's retail loan growth is likely to be twice of what it was in the year-ago quarter, he said.
India's second largest private sector bank by net profit HDFC Bank rose 0.58%.
India's largest engineering and construction firm by sales Larsen & Toubro rose 1.65% after company on Thursday during market hours said it got orders worth Rs 405 crore
But other capital goods stocks fell. Praj Industries, Crompton Greaves, Siemens, Thermax, Bhel Authority of India fell by between 0.29% to 1.82%.
Construction shares fell on profit taking. IVRCL Infrastructures & Projects, Jaiprakash Associates, Gayatri Projects and Hindustan Construction Company fell by between 1.09% to 3.47%.
Higher government spending on infrastructure sector in 2009-2010 to provide a stimulus to the economy, may result in increase order flow for construction firms.
India's largest thermal power generator by sales NTPC fell 0.17% after company's chairman said late on Thursday India's government may sell up to 5% in power producer NTPC before March 2009.
Other power stocks, Reliance Infrastructure, Torrent Power, Tata Power Company, Reliance Power fell by between 0.08% to 1.12%.
Cement stocks extended Thursday's fall on reports cement makers have cut prices by Rs 3 per 50 kilogram bag in Mumbai. ACC, Grasim Industries, Ultratech Cement fell by between 0.91% to 2.13%.
Tea stocks fell on profit taking after recent gain triggered by jump in prices on the back of fall in production.
McLeod Russel, Assam Tea & Exports, Harrison Malayalam, Assam Company fell by between 0.96% to 4.41%.
Tea production in India fell by 3% to 127 million kilogram (kg) in July 2009 over July 2008 on a decline in output mainly in West Bengal, though higher realisation pushed up exports marginally, according to the Tea Board.
Sugar stocks fell on recent reports the Indian government has asked tax authorities to monitor the release of sugar stocks by mills to ensure steady prices and supplies in the festival season when demand peaks.
Shree Renuka Sugars, Balrampur Chini, Bajaj Hindustan fell by between 0.25% to 1.94%.
Cals Refineries clocked the highest volume of 9.9 crore shares on BSE. Reliance Natural Resources (1.57 crore shares), IFCI (1.54 crore shares), Suzlon Energy (1.29 crore shares) and NHPC (1.19 crore shares) were the other volume toppers in that order.
DLF clocked the highest turnover of Rs 201.02 crore on BSE. Reliance Industries (Rs 174.77 crore), Housing Development & Infrastructure (Rs 141.57 crore), Reliance Natural Resources (138.73 crore) and ICICI Bank (Rs 135.25 crore) were the other turnover toppers in that order.

Indices hit 15-month high

An improvement in business confidence of India Inc and revival of monsoon rains helped the key benchmark indices hit a 15-month high last week. Firm global stocks and foreign fund buying aided the rally.
A survey to gauge business confidence sentiment, carried out by Federation of Indian Chambers of Commerce and Industry (Ficci), for the month of September 2009, suggested that the confidence level of India Inc is on the rise thanks to government's fiscal stimulus measures. Eighty per cent of the companies believe that the Indian economy is on the road to recovery and expect improvement in corporate performance in the months to come.
Although, the future outlook for the Indian industry as a whole is fairly positive, 86% of the companies expressed concern over delayed monsoons. The respondents feel this can have an adverse impact on demand for industrial goods in the coming months.
Incidentally, there has been a revival in monsoon rains in the past few days. After playing truant for most of the season, the monsoon has picked up pace in the past few days thereby reducing the deficiency in cumulative rainfall in this season. The cumulative rainfall was 23% below normal in the week ended 2 September 2009, an improvement from 25% in the week ended 26 August 2009 and 29% in the week ended 12 August 2009, the India Meteorological Department said on 4 September 2009.
However, a cause of concern is that reservoir levels in key reservoirs are at two-thirds of the 10-year average, and 60% of last year's levels. Because of the deficient rainfall between June and September, good water storage level in these key reservoirs, which makes up one-third of the country's total water storage, are crucial to a good winter crop. Two-third of India's population lives in villages and 60% of the farm land depends on the annual rains.
A Japanese brokerage firm in a research note said India's economic growth could slow to 6% in 2009-10 from its earlier estimate of 6.3%, dragged by contraction in agricultural growth. The brokerage cut its 2009-10 agriculture gross domestic product (GDP) growth forecast to 2.2% from 3.5% due to deficient monsoon rains.
An Australian based brokerage has lowered India's economic growth target to 6.5% in the year ending March 2010 from the 7% forecast earlier, as weak monsoon rainfall affects the agriculture sector. However the brokerage firm raised its estimate for gross domestic product expansion for the following year to 8% from 7.5%.
FII inflow in September 2009 totaled Rs 2,172.10 crore (till 10 September 2009). Foreign funds had bought equities worth Rs 4028.80 crore in August 2009. FII inflow in calendar year 2009 totaled Rs 42,370.60 crore (till 10 September 2009).
The wholesale price index (WPI) fell for the 13th successive week though the drop was lower at 0.12% for the week ended August 29 against 0.21% decline in the week before, data on Thursday, 10 September 2009, showed.
The Index of Industrial Production (IIP) number for July 2009 was at 6.8% versus 8.2% in June 2009 and 6.4% in July 2008. The June IIP figure, which was first reported at 7.8%, has been revised to 8.2%.
The BSE 30-share Sensex rose 575.18 points or 3.67% to 16,264.30 in the week ended Friday, 11 September 2009. The S&P CNX Nifty rose 149.15 points or 3.18% to 4829.55 in the week.
The BSE Mid-Cap index rose 88.39 points or 1.52% to 5,921.61. The BSE Small-Cap index 109.76 points or 1.57% to 7,101.27. Both the indices underperformed Sensex.
Strong response to the initial public offer of Oil India, an improvement in business confidence of India Inc and revival of monsoon rains helped key benchmark indices end on a positive note on Monday, 7 September 2009. The BSE 30-share Sensex jumped 327.20 points or 2.09% to 16,016.32. The S&P CNX Nifty rose 102.50 points or 2.19% to 4,782.90.
The initial public offer (IPO) of state-run Oil India ended with oversubscription of 30.82 times. The IPO received bids for 81.52 crore shares compared to the issue size of 2.64 crore shares. The IPO opened for bidding on 7 September 2009 and closed on 10 September 2009.
Key benchmark indices extended gains for the third straight session on Tuesday, 8 September 2009, led by rally in index heavyweights Reliance Industries and State Bank of India. The BSE 30-share Sensex rose 107.35 points or 0.67% to 16,123.67. The S&P CNX Nifty rose 22.35 points or 0.47% to 4805.25.
Key benchmark indices extended gains for the fourth straight session on Wednesday, 9 September 2009, on a revival in monsoon and after a recent survey showed an improvement in business confidence of India Inc. The BSE 30-share Sensex was up 59.88 points or 0.37% to 16,183.55. The S&P CNX Nifty was up 9 points or 0.19% to 4814.25.
The key benchmark indices registered small gains in choppy trade on Thursday, 10 September 2009, extending a rally for the fifth day. The market retraced afterweak European markets and lower US index futures triggered profit taking. The BSE 30-share Sensex rose 33.31 points or 0.21% to 16,216.86. The S&P CNX Nifty rose 5.15 points or 0.11% to 4819.40.
The key benchmark indices extended gains for the sixth straight day on Friday, 11 September 2009, on positive global stocks and industrial output data which came in as expected. The BSE 30-share Sensex rose 47.44 points or 0.29% to 16,264.30. The S&P CNX Nifty rose 10.15 points or 0.21% to 4829.55.
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 8.08% to Rs 2140.95 in the week. Anil Ambani group firm Reliance Natural Resources (RNRL) on Wednesday told the Supreme Court that the government has no role to play either in the utilisation or the fixation of gas price as per its contract with Mukesh-led RIL.
The two sides RIL and RNRL had approached Supreme Court challenging a decision by the Bombay High Court on 15 June 2009, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $ 2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month. RIL, however, is pleading that it was only a contractor for the gas from the Krishna-Godavari basin's D6 block and did not have the power to fix the price, while the government has also moved a special leave petition in the case asserting its right on pricing and distribution of natural gas. The apex court has decided to commence hearing on this matter on 20 October.
Shares of software outsourcers rose after a Japanese brokerage raised its rating on the sector to ‘neutral' from ‘bearish' given positive growth prospects in the US and Europe, an improvement in IT spending and expanding operating margins.
India's fourth largest software services exporter by sales HCL Technologies rose 2.60%. India's second largest software services exporter by sales Infosys rose 2.98%. India's largest software services exporter by sales Tata Consultancy Services (TCS) rose 5.25%. However, India's third largest software services exporter by sales Wipro was unchanged.
India's largest copper maker by sales Sterlite Industries rose 11.25%. The company on Friday, 11 September 2009, said it had raised its open offer price for bankrupt US copper miner Asarco by a fifth to $2.565 billion. Sterlite, a unit of India-focused mining company Vedanta Resources, has been facing off with Mexican miner Grupo Mexico for the assets of Asarco, which has been under bankruptcy protection since 2005.
Steel stocks were in demand last week after Steel Minister Virbhadra Singh said on Thursday, 10 September 2009, domestic consumption of steel could rise 6% this quarter.
World's largest steel maker by capacity Tata Steel rose 9.07%. Steel Authority of India (up 2.74%), JSW Steel (up 6%), Jindal Steel & Power (up 2.81%), and Bhushan Steel (up 8.62%), rose.
Domestic steel makers recently raised prices of flat steel products such as plates and sheets, mainly used in manufacturing automobiles, refrigerators and washing machines, by about 3-5% from Tuesday, 1 September 2009, in line with international prices.
Tata Steel and Steel Authority of India have raised prices of flat products by Rs 1,500 a tonne.
Prices of long steel products used in construction and infrastructure sector, however, were left unchanged.
Bank stocks advanced after shares of ICICI Bank, HDFC Bank were upgraded by a foreign brokerage.
India's largest private sector bank by market capitalisation ICICI Bank rose 12.32% after it was raised to 'overweight' from 'underweight'.
India's second largest private sector bank by market capitalisation HDFC Bank 2.51% after it was lifted to 'overweight' from 'neutral.'
The brokerage said HDFC Bank and ICICI Bank, offered potential total returns of 25% over the next three years.
India's largest commercial bank by branch network State Bank of India (SBI) rose 8.78%. SBI chairman O P Bhatt, on 8 September 2009, said the bank's earnings are likely to grow 30-35% in Q2 September 2009 over Q2 September 2008. SBI's retail loan growth in Q2 September 2009 is likely to be twice of what it was in Q2 September 2008, he added.

Your new car to pinch less

With the festival season round the corner, tough competition among banks and financial institutions has ensured that auto loans get still cheaper.

For instance, in August, Canara Bank, IDBI Bank and ICICI Bank had revised their auto loan rates. Along with State Bank of India's fixed-cum-floating offer in the home and auto segments, Canara Bank is also offering a similar loan facility.

That is, SBI is offering 8 per cent for the first year, 10 per cent for the next two years. Canara Bank is charging 8.5 per cent in the first year, 9 per cent in second year and 10 per cent between third and fifth year. Following this, both ICICI Bank and IDBI Bank too cut their rates.

For a consumer, there are a few things to ponder over. While the rate of interest is the most attractive feature of a loan, other issues such as structure (hybrid or fixed-cum-floating), loan-to-value on offer, tenure or time period and dealers' partners need to be considered as well.

An auto loan seeker, for starters, should approach his/ her bank. A good existing relationship can make things easier. Umesh Arora, head, retail liabilities, Axis Bank, said, "In the auto or personal loan space, an existing customer has a clear advantage. And depending on this, one can even get 0.5 per cent discount. Some banks can also give relaxation towards initial down-payment."

For those who want to scout for a good loan offer, here's some help. Let's first look at the cheapest loan for different tenures. If you are planning to take a loan up to three years, SBI emerges as the best bet. The bank's offer of a fixed rate for three years makes it an attractive proposition. The average yearly rate comes to 8.87 per cent - the lowest.

In terms of equated monthly instalments, a loan of Rs 300,000 for three years would lead to an EMI of Rs 9,400 in the first year and Rs 9,592 in the second and third year. However, a car buyer has to fork out 15 per cent of the total cost as SBI lends only up to 85 per cent of the car's value (on road price) for new as well as second-hand cars.

For loans with tenure of three-seven years, Canara Bank has the best offer. For instance, a car loan of Rs 700,000 for five years would mean that the average rate is 9.2 per cent a year.

The EMI will work out like this - Rs 14,362 for the first year, Rs 14,638 for the second year and Rs 14,712 from third to fifth year. The only drawback - Canara Bank does not provide four-wheeler loans for tenures above six years. The bank funds 90 per cent of a new car's 'on-road' price. For used cars, loans are given only up to 75 per cent of the car's value.

In comparison, ICICI Bank's EMI for the same loan would come to Rs 16,379 at an average rate of 14.25 per cent.

While offers of public sector banks are quite impressive, the process could be time consuming. This is because they follow a centralised loan approval system that leads to delays in sanction and disbursal. Also, they are more stringent as far as the loan-to-value percentage goes.

If you are unable to shell out the required 85-90 per cent, approaching private banks through direct selling agents or dealers help. In fact, some DSAs claim that they can get you a 100 per cent loan on select models. "The customer will need to shell out only the first EMI in advance for some cars such as Maruti Swift," said a DSA for a private bank.

Like mutual fund distributors, both dealers and DSAs normally have partnerships with as many as four-five banks. This helps them get you a better loan-to-value deal or even rates, at times. "As dealers, we need to provide options to customers.

Normally, even before the customer has decided on the model, we spend some time with them to understand the kind of financing he/she will require," said a Mumbai-based Maruti Suzuki dealer.