Indian stock market updates - sep 06

1. Morning EQ-Tea 6 September 2010
Indian Indices % Change
Last Close 1 Day MTD YTD Corporate News/Results Corner
Sensex 18,221 (0.1) 1.4 4.3
Nifty 5,479 (0.1) 1.4 5.4 Page Page
CNX Midcap 8,923 0.7 2.8 20.1 No. No.
CNX IT 6,076 0.3 1.7 4.4 • Corporate News 2 • Price Shockers 3
Bankex 10,991 0.1 2.3 21.7
Auto 8,970 0.9 1.8 20.6 • Macro Economic News 2 • Event Calendar 4
Metal 15,347 (1.1) 2.5 (11.8)
FMCG 3,457 0.1 2.1 23.8 • International News 2 • Corporate Actions 4
Global Indices % Change • Bulk Deals 3 • Board Meetings 4
Last Close 1 Day MTD YTD
Shanghai 2,655 0.9 1.5 (18.3) • Insider Trades 3
Nikkei 225 9,114 1.5 4.9 (12.3)
Straits Times 3,003 0.2 2.0 3.9 Statement of the day
Hang Seng 20,972 1.1 3.2 (3.1)
DJIA 10,448 1.2 4.3 0.2
“We should sell some of our excess stock by having swap deals with
S&P 500 1,105 1.3 5.3 (0.9)
other countries, as we are currently not able to create the storage
FTSE 5,428 1.1 3.9 0.3 capacity or able to distribute it to the poor” –
Dollar Index 82 0.0 (1.4) 5.3
Live Markets As on 0730 hours IST Kaushik Basu - Chief Economic Advisor
Hang
Shanghai Nikkei SGX Nifty Seng
Institutional Activity Vis-à-vis Sensex Movement
Current Quote 2,676 9,253 5,504 21,198
% Change 0.8% 1.5% 0.4% 1.1%
(Rs Mn) Provisional Figures for Investments
ADR (CONVERTED TO INR) Prem / (Disc) in (%) 6000 19000
ADR CloseNSE Close 1 Day 1Mth
4000 18800
INFOSYS 2,829 2777 1.8 (0.2)
18600
ICICI BANK 1,010 1001 0.9 0.6 2000
TATA COM 340 339 0.4 (0.9)
0 18221.43 18400
HDFC BANK 2,636 2194 16.8 16.0 17998.41 18200
18032.11 17971.12
STERLITE 162 158 2.2 75.3 -2000 18205.8718238.31 18000
Volumes Moving Average (Rs bn) -4000
17800
1 Day 5 Day 30 Day
-6000 17600
BSE CASH 48 49 50
NSE CASH 124 128 169 -8000 17400
NSE F&O 653 131 22 27-Aug 30-Aug 31-Aug 01-Sep 02-Sep 03-Sep
Institutional Activities (Net) Spot market
1 Day MTD YTD FII (LHS) MF (LHS) Sensex (RHS)
FII (Rs bn) 2.8 7 456
Source: NSE, BSE & SEBI
MF (Rs bn) (1.2) (1) (193)
Bond Market Historical Data (%) BSE Advance/Decline
1 Day 1M 1 Yr
10Yr Yield (G-Sec) 7.96 7.95 7.59
Currency Market % Change 2,000 3.5
Last Close 1day MTD YTD 2.9
INR/USD 46.64 0.2 0.9 (0.2) 3.0
1,600
INR/EURO 60.06 (0.2) (0.7) 10.9
Number of Shares
2.5
INR/GBP 72.11 (0.1) 0.2 4.3
1,200 1.7 2.0
Commodities Update % Change
Unit Close 1 Day MTD YTD 800 1.3 1.5
Crude Oil(NYME) $/Bbl 74 (0.4) 3.3 (6.4) 0.8
1.0
Gold (OTC) $/Oz 1,248 0.1 0.0 13.8 400 0.4 0.5
0.5
Copper (LME) $/MT 7,633 0.1 2.8 4.0
Aluminum (LME) $/MT 2,121 0.1 3.9 (3.5) 0 0.0
Sugar (LIFFE) $/MT 592 0.0 2.4 1.8 27-Aug 30-Aug 31-Aug 1-Sep 2-Sep 3-Sep
Zinc (LME) $/MT 2,151 (1.1) 4.2 (16.0)
Advance (LHS) Decline (LHS) Adv/Decl Ratio (RHS)
Baltic Dry Index 2,876 1.4 3.9 0.3
Source: Bloomberg, NSE, BSE & SEBI Source: BSE
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2. Corporate News/Results Corner
Britannia to invest Rs1000 mn in 2 new plants
BRITANNIA Industries (BIL) will invest around Rs 1000mn to set up a plant each in Bihar and Orissa to scale up production to
cater to the growing market.
Nalco now sets sights on Namibia’s uranium assets
HINDUSTAN Copper and Nalco’s joint bid to acquire a copper mine in Namibia has fallen flat after the mine owner decided to
withdraw the offer halfway through the due diligence process. Nalco has instead decided to renew its efforts in the African
country by scouting for uranium assets.
BEML inks deal with MECL for coal mining projects
BEML and Mineral Exploration Corporation Limited (MECL) engaged in exploratory activities for the mining sector, have signed
a memorandum of understanding (MoU) for participating in coal & metal mining projects.
HCL, TCS, Wipro, Sify vie for Andaman project
HCL, Tata Consultancy Services, Wipro and Sify are among the six companies that are learnt to have submitted bids to set up
and maintain ‘State Data Centre' in Andaman and Nicobar Islands. The project entails building and managing the entire data
centre infrastructure for the Union Territory, for a period of five years. Industry watchers expect the value of the SDC contract
to be below Rs 350 mn.
IDBI Bank likely to raise equity capital
IDBI Bank may consider raising equity capital, thereby diluting the Government's stake, over the next 12-15 months.The
bank will explore the options of going in for a rights issue, follow-on public offer, qualified institutional placement or
preferential placements for raising funds.
RBI excludes banks from class action
Banks could be excluded from class-action suits, which have been proposed under the new Companies Bill, 2009. The move
will help to ensure that the interests of depositors remain paramount. Class action is a new clause that would allow members,
shareholders or creditors of a company to file complaints against the organization in case of serious instances of
mismanagement.
Steelmakers hike flat prices, unfazed by cheaper imports (positive)
Imported steel flat products may become cheaper, with domestic steelmakers' recent move to hike prices of flats by Rs 750-
1,500 a tonne from September 1. Post-taxes, steel prices in the domestic market are expected to go up by Rs 2,000 a tonne
to about Rs 40,000 (a tonne), while the landed cost of imports are $625 (Rs 28,750) a tonne and end up at Rs 38,000 a
tonne after addition of Customs duty, freight and other local taxes.
Macro Economic and Other News International News
India's food and fuel inflation edges higher US private employment and non farm payroll
Inflation for the Food Articles group stood at 10.86% in expands faster than estimate
the week ended August 21 as against 10.05% in the US private employment for the month of August came in
previous week. It was at 14.86% in the comparable week at 67,000 vs consensus estimates of 40,000. The non
last year. The index for Food Articles group rose by 1.8% farm payroll for the month of August came in at -54,000
to 303.3 in the week ended August 21. Inflation for the vs consensus estimates of -105,000.
Primary Articles group also rose to 15.19% from 14.75%
in the week ended August 14, the data revealed. It stood The US unemployment rate comes in-line with
at 8.87% during the week ended Aug. 22, 2009. estimates
The US unemployment rate for the month of August came
Loans waived will be treated as taxable income in in at 9.6%, in-line with consensus estimates.
the hands of the borrowers
The Direct Tax Code (DTC) provides that loans waived by
lenders will be treated as income in the hands of the
borrowers and taxed accordingly. It may then not matter
whether the loan was utilised for acquisition of capital
asset or for revenue expenditure purposes, say some tax
experts. The DTC Bill seeks to directly bring within the
scope of income the amount of remission or cessation of
any liability by way of loan, deposit, advance or credit.
More rains forecast for Central, North-west India
The low-pressure area over Northwest and adjoining
West-central Bay of Bengal has crossed the coast and lay
centred over Orissa and neighborhood. Two other systems
have been operating over Central India and Northwest
India, an India Meteorological Department (IMD) update
said.
Source: Economic Times, Business Line, Business Standard, Times of India, DNA Money, Mint, Financial Express, Bloomberg
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3. Bulk Deal
Company Acquirer Qty Price Seller Qty Price
Development
Credit Bank L Edelcap Securities Ltd. 1,997,353 51.5 Edelvalue Partners 1,997,353 51.5
Emami Hsbc Global Investment Fu
Infrastructure Ltd N.A. Nds Mauritius Ltd 137,000 59.2
Lakshmi Vilas
Bank Ltd Edelcap Securities Ltd. 647,522.0 123.9 Edelvalue Partners 647,522 123.9
MVL Ht Media Limited 1,980,317 66.6
Piramal Health Bmk Laboratories Private 7784677 505.0 Phl Holdings Private Limited 7784677 505.0
Roselabs Inds Jayshree Shankar Bhosle 200,000 34.7 N.A.
Sankhya Info Bakliwal Fincom Private 105,000 32.8 Rajeev Khanna 186,378 32.7
Shree
Ashtavinayak Cine Satyam Realtors Pvt Ltd 5,000,000 21.0 N.A.
Simmonds
Marshall Sanjay Suresh Kilachand 105,260 51.0 Sravanthi Koduru 100,000 51.0
N.A. = Not Available
Source: BSE & NSE
Insiders Trades
Company Acquirer/Seller Bought/Sold Qty
Ganesh Benzoplast Ltd Rishi R Pilani S 750000
Jamna Auto Industries Ltd MAP Auto Ltd B 1052631
Kadvani Securities Ltd Bhanwarlal Mangilal Jain B 800000
Kemrock Industries and Exports Ltd Clartia International Ltd S 337221
Orchid Chemicals & Pharmaceuticals
Ltd R Vijayalakshmi B 1571000
Rubfila International Ltd Minal B Patel S 210000
Sahyadri Industries Ltd V L Patel S 140000
Sanghi Industries Ltd Spinnaker Global Emerging Mkts Fund Ltd S 6599370
Shree Ashtavinayak Cine Vision Ltd Dahlia Traders Pvt Ltd B 3000530
Source: BSE NSE & Capitaline
Note: The above insiders Trades might include ESOPs conversion.
Price Shockers
Gainers Losers
Change Change Change Change
Company Close Price Price Company Close Price Price
Price (Rs) (Rs) (%) Price (Rs) (Rs) (%)
Godrej Cons 401 26 7.0 HPCL 511 (19) (3.5)
BEML 1134 73 6.9 Suzlon Energy 50 (1) (2.6)
Rashtriya Chem 86 4 5.3 Jet Air India 699 (17) (2.3)
Bosch 6303 315 5.3 Glenmark Pharma 283 (7) (2.3)
Chambal Fert 74 4 5.1 Jindal Steel 683 (15) (2.1)
India Infoline 99 4 4.0 Tata Comm 340 (7) (2.1)
Allahabad Bank 225 8 3.9 Central Bank 181 (3) (1.8)
Tata Chemicals 410 15 3.7 Sesa Goa 318 (6) (1.8)
Religare Enter 480 17 3.7 Gujarat NRE Coke 60 (1) (1.6)
Tech Mahindra 700 23 3.5 Jaiprakash Asso 113 (2) (1.5)
Gujarat Mnrl 126 4 3.2 Hindalco Inds 170 (3) (1.5)
Bajaj Auto 2872 87 3.1 Balrampur Chini 87 (1) (1.4)
Indian Bank 260 7 2.9 Chennai Petro 240 (3) (1.4)
Unitech 81 2 2.9 Sterlite Inds 159 (2) (1.3)
Sintex Inds 372 10 2.7 Ispat Inds 20 (0) (1.3)
Source: Capitaline
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4. Event Calendar
• Sep 03: India Markit Services PMI for Aug
• Sep 03: HK PMI for Aug
• Sep 03: US Unemployment Rate for Aug
• Sep 06: US Personal Spending
Source: Bloomberg
Corporate Actions
Ex Date Company Purpose Ex Date Company Purpose
Annual General Meeting
Industrial Investment eClerx Services Annual General Meeting And
6-Sep / Dividend Re.1.50 Per 6-Sep
Trust Limited Limited Dividend Rs.10/- Per Share
Share
Dividend-Rs.2.50 Per Kabra Extrusion
6-Sep Havells India Limited 6-Sep Bonus 1:1
Share Technik Limited
Genesys
Annual General Meeting And
6-Sep Max India Limited Annual General Meeting 6-Sep International
Dividend Re.0.75 Per Share
Corporation Limited
Norben Tea &
6-Sep Subex Limited Annual Book Closure 6-Sep Annual General Meeting
Exports Limited
Kitply Industries
6-Sep Cairn India Limited Annual General Meeting 6-Sep Annual General Meeting
Limited
Annual General Meeting
Zodiac JRD- MKJ Annual General Meeting And
6-Sep IFCI Limited And Dividend Re.1/- Per 6-Sep
Limited Dividend Re.0.50 Per Share
Share
Selan Exploration
6-Sep Sakuma Exports Limited Annual General Meeting 6-Sep Annual General Meeting
Technology Limited
Annual General Meeting
Tantia Constructions GI Engineering
6-Sep And Dividend Rs.1.50 Annual General Meeting
Limited Solutions Limited
Per Share
S.E. Investments
6-Sep Annual General Meeting
Limited
Source: NSE
Board Meetings
Date Company Results Dividend
Gemini Communication
6-Sep
Limited
Source: NSE
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5. Advisory Group
Karun Mutha
SVP & Head - Equity & Derivatives Advisory
Tel +91-22-67897833
Email: karun.mutha@hsbcinv.com
Fundamental Team Designation/Sectors covered
Supriya Madye AVP Analyst–Auto Cement Infra 022 39673815 supriya.madye@hsbcinv.com
Deepan Sankaranarayanan Analyst–Media Logistics 022 39673818 deepan.sankaranarayanan@hsbcinv.com
Jignesh Shial Analyst–Banking Real Estate 022 39673820 jignesh.shial@hsbcinv.com
Hitesh Punjabi Analyst–IT Pharma 022 39673823 hitesh.punjabi@hsbcinv.com
Prerna Jhunjhunwala Analyst–Retail FMCG Capital Goods 022 39673822 prerana.jhunjhunwala@hsbcinv.com
Chetan Thacker Associate Analyst–Metal Mining Agri 022 39673821 chetan.thacker@hsbcinv.com
Priyanka Rai Assistant Manager (Production) 022 39673852 priyanka.rai@hsbcinv.com
Quantitative Team
Tina Khetan Derivative Analyst 022 67897828 tina.khetan@hsbcinv.com
Akshay Bhagwat Derivative Analyst 022 67897830 akshay.bhagwat@hsbcinv.com
Nikunj Shah Derivative Analyst 022 67897827 nikunj.shah@hsbcinv.com
Technical Team
Mukesh Singh Vice President- Technical Analyst 022 67897816 mukesh.singh@hsbcinv.com
Rahul Randeria Technical Analyst 022 67897817 rahul.randeria@hsbcinv.com
A.SenthilRaj Technical Analyst 022 39673998 a.senthilraj@hsbcinv.com
Advisory Support
Tony Nawani Manager 022 67897825 tony.nawani@hsbcinv.com
Ashutosh Desai Assistant Manager 022 67897826 ashutosh.desai@hsbcinv.com
Vinod Hassija Assistant Manager 022 67897827 vinod.hassija@hsbcinv.com
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6. Disclaimer:
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Disclosure
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employees may have various positions in any of the stocks securities and financial.
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deal in other securities of the companies / organizations described in this document.
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