ANGEL STOCK MARKET: June 2011

Tuesday, June 21, 2011

BANKNIFTY FOR SUPPORT 21/04/2011

BANKNIFTY (2nd Resistance) 10783.57
(1st Resistance) 10642.98
Pivot point 10489.42
(1st Support) 10348.83
(2nd support) 10195.27

NIFTY FOR SUPPORT 21/06/2011

NIFTY (2nd Resistance) 5470.95
(1st Resistance) 5365.5
Pivot point 5273.95
(1st Support) 5168.5
(2nd support) 5076.95

Global Markets update 21/06/2011

DJIA Up 76.0 (0.6%) NSDQ Up 13.2 (0.5%) FTSE 100 Down 21.6 (0.4%) NIKKEI Up 83.06 (0.89%) HANG SENG Up 82.97 (0.38%) SGX NIFTY Down 6

FII DII DATA 21/06/2011

Net Index Futures (790), Net Stock Futures (139), Derivative Market: Total Open Interest (Rs 1,37,818 cr), Stock Futures Open Interest (Rs 32,632 cr)

Indian ADRs Update 21/06/2011

INFOSYS Down 0.9 (1.5%), WIPRO Down 0.0 (0.2%), ICICI BANK Down 0.5 (1.1%), HDFC BANK Down 1.1 (0.7%)

Thursday, June 16, 2011

BANKNIFTY FOR SUPPORT 16/06/2011

BANKNIFTY (2nd Resistance) 10920.8
(1st Resistance) 10778.6
Pivot point 10692.8
(1st Support) 10550.6
(2nd support) 10464.8

NIFTY FOR SUPPORT 16/06/2011

NIFTY (2nd Resistance) 5531.43
(1st Resistance) 5491.02
Pivot point 5464.58
(1st Support) 5424.17
(2nd support) 5397.73

FII DII DATA 16/06/2011

Net Index Futures (-458), Net Stock Futures (-513), Derivative Market: Total Open Interest (Rs 1,31,664 cr), Stock Futures Open Interest (Rs 34,361 cr)

Indian ADRs Update 16/06/2011

INFOSYS Down 1.4 (2.2%), WIPRO Down 0.4 (3.0%), ICICI BANK Down 3.3 (1.5%), HDFC BANK Down 3.7 (2.3%)

Global Markets update 16/06/2011

DJIA Down 178.8 (1.5%) NSDQ Down 47.3 (1.8%) FTSE 100 Down 60.6 (1.0%) Asian Markets as on 8.45 AM NIKKEI Down 80.17 (0.84%) HANG SENG Down 335.98 (1.5%) SGX NIFTY Down 56.50

Friday, June 10, 2011

Tata Motors, Maruti, ONGC and RIL may witness some action today

Tata Nano, billed as the world's cheapest car, entered Sri Lanka's taxi market billed as a more comfortable and safer alternative to rickety three-wheel auto rickshaws.

A strike at car maker Maruti Suzuki's Manesar plant entered its fifth day yesterday, causing a production loss of 4,200 vehicles.

ONGC has launched a massive exploration drive for gas extraction in Tripura to meet the requirement of 726 MW gas-based thermal power project at Palatana in South Tripura, which is scheduled to start power generation by December 2012.

Reliance Industries (RIL) has asked the government to withdraw restriction on movement of expats from one oil and gas block to another as the limitation was hindering its operations.

Apollo Tyres will make Dubai its operational hub for the Middle East markets with plans to invest around $1.5 million annually starting this year.

mjunction, the equal joint venture (JV) company held by Tata Steel and Steel Authority of India (SAIL), is scouting for acquisitions in lieu of expansion and has shortlisted two companies in Europe for the purpose.

Indraprastha Gas, promoted by state-run oil firms, has served a legal notice to the petroleum sector regulator for granting city gas distribution licenses in absence of key members on its board, allegedly against a recent Supreme Court order.

The Union environment ministry has asked Naveen Jindal owned Jindal Steel & Power to respond to allegations that the company had built its coal washery at Raigarh in Chhattisgarh without obtaining prior environmental clearance from the ministry.

As the government prepares to issue additional radio licenses and announce new guidelines for the sector, leading FM channel operators such as Entertainment Network India (ENIL) and Reliance Broadcast Network (RBNL) are eying acquisitions.

Viom Networks, a telecom tower JV between Tata Teleservices and the Kanoria Family, who are founders of SREI Infrastructure, confirmed its interest for Reliance Infratel's tower assets.

Private air-carrier SpiceJet will begin regional operations from Tier-2 and 3 cities like Vijayawada, Tirupati, Mysore, Mangalore, Madurai, Nagpur and Indore from mid-July using the Bombardier Q400 Next Gen turboprop aircraft.

Infosys is evaluating options to tap into UK's multi-billion government outsourcing market, as it seeks to compete better with larger domestic rival Tata Consultancy Services by increasing its share of revenues from public sector departments looking to cut costs.

Credit rating agency, ICRA, reduced Reliance Communications' long-term rating to LAA from LAA plus for its Rs 28,116 crore long-term debt and its Rs 5,000 crore non-convertible debenture programme.

Nirma’s delisting of its equity shares from stock exchanges has been kept in abeyance until further notice from market regulator SEBI, following which its exit offer to shareholders has also been deferred.

Infrastructure and real estate company Atlanta was expecting up to 60% growth in revenue as well as net profit year-on-year for the next five years on the back of healthy order book.

Pune-based Garware Motors is looking to forge a joint venture to manufacture the Hyosung range of bikes here in India with Korean S&T Motors Corporation within the next two years.

Jindal Synfuels (JSFL), a subsidiary of Navin Jindal managed JSPL, plans to set up a Coal to Liquid (CTL) plant with an overall capacity of 80,000 barrels per day (bpd) equivalent of key oil products such as Diesel, Naphtha, and LPG near Augul where JSPL is coming up with a steel plant.

The State Bank of India, which shocked investors with a 99% plunge in quarterly earnings, will scrap the annual interest rate reset clause on all loans and move to uniform base rate-linked payments to smoothen out the fluctuations in its profitability.

Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016.

Shopper's Stop is planning to raise prices of private labels by 10-12% from July 1, 2011. Recently, the company wholly owned subsidiary --Crossword Bookstores-- opened up one 'Crossword' franchisee store at Udaipur.

RPG Group company CESC Ltd has inked a deal to pick up a 4.8% stake in Australia- listed mining company Resource Generation for $10 million.

MindTree Unveils Bluetooth Solutions Suite for In-car Health Applications.

Companies like Ajmera Realty, KLK Industries, Shikhar Leasing & Trading and Sukhjit Starch & Chemicals are going to announce their results today.

Just in: April IIP at 6.3% as per new series

The newly introduced Index of Industrial Production (IIP) with an updated base of 2004-05 starting from the month of April, has expanded at 6.3% pace in April to 167.8 as compared to the level in the month of April 2010. The annual growth for the period April-March 2010-11 stands at 8.2% over the corresponding period of the previous year. However, under the old series, annual industrial output growth in April was 4.4%, lower than the general expectation of around 5%.
According to the data released by Central Statistics Office, the IIP for the Mining, Manufacturing and Electricity sectors for the month of April 2011 stands at 129.1, 178.0 and 146.0 respectively, with the corresponding growth rates of 2.2%, 6.9% and 6.4% as compared to April 2010.
As per Use-based classification, the growth rates in April 2011 over April 2010 are 7.3% in Basic goods, 14.5% in Capital goods and 3.4% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of 3.8% and 2.1% respectively, with the overall growth in Consumer goods being 2.9%, the statement showed.

Indian Overseas Bank launches e-kiosk at Cathedral branch in Chennai

Indian Overseas Bank (IOB), a public sector bank has launched 24x7 cheque depositing machine, E-kiosk at the Cathedral branch in Chennai. eKiosk is a standalone machine which reads MICR data and captures digital image of the deposited cheque and also gives a receipt to the depositor. The bank plans to open 100 such kiosks.

Recently, the company had hiked interest rates payable on select tenures for its domestic term deposits. The bank decided to revise rates payable on domestic term deposit with effect from May 17, 2011.

IOB has reported a growth of 240.79% in its net profit to Rs 434.30 crore for the quarter ended March 31, 2011 as compared to Rs 127.44 crore for the quarter ended March 31, 2010. Total income has surged by 38.40% to Rs 3916.58 crore for the quarter under review whereas the same was at Rs 2829.80 crore in the corresponding previous quarter.

CARE assigns ratings to bank facilities of Tulsyan NEC

Credit rating agency, CARE has assigned ‘CARE BB+’ rating to the long-term bank facilities of Tulsyan NEC for Rs 143.00 crore. The agency has also assigned ‘PR4+’ rating to the short-term bank facilities of the company for Rs 175.00 crore.
The ratings however, draw strength from the established track record of operations, sustained demand for steel products from the infrastructure sector, locational advantage of the company’s steel plant, diversified revenue streams, and the backward integration plans of the company by the setting up of a captive power facility.
Tulsyan NEC has reported net profit for the quarter ended March 31, 2011 at Rs 3.96 crore as compared to profit of Rs 4.03 crore for the quarter ended March 31, 2010 down by 1.73%. The company's total income was up by 85.75% to Rs 373.36 crore for the quarter under review as against Rs 201.00 crore for the similar quarter a period ago.
Tulsyan NEC is a diversified company with business interests in steel and plastic packaging material. The company manufactures thermo mechanically treated (TMT) bars, billets and ingots in the steel division and polypropylene woven sacks, flexible intermediate bulk containers and woven fabric in the synthetic division.

Haria Exports touches the roof on plan of demerging its garment division

Haria Exports is currently locked at its upper circuit limit of Rs 4.92, up by 0.23 points or 4.90% from its previous closing of Rs 4.69 on the BSE.

The scrip opened at Rs 4.92 and has touched a high and low of Rs 4.92 and Rs 4.92 respectively. So far 1513 shares were traded on the counter.

The BSE group 'T' stock of face value Rs 10 has touched a 52 week high of Rs 7.36 on 12-Jul-2010 and a 52 week low of Rs 3.03 on 11-May-2011.

Last one week high and low of the scrip stood at Rs 4.92 and Rs 3.68 respectively. The current market cap of the company is Rs 2.82 crore.

The promoters holding in the company stood at 12.96% while Institutions and Non-Institutions held 0.02% and 87.02% respectively.

Haria Exports is eyeing for approval for scheme of arrangement involving demerger of its garment division and merger of Best Plastex with the company. For the propose scheme of arrangement the company will hold a board meeting of its directors on June 14, 2011.

Haria Exports offers garments and note books in India and internationally. It manufactures and exports garments comprising men’s and ladies' cotton shirts, towels and napkins as well as cotton fabrics. The company also offers note books.

Glenmark Pharma surges on its arm getting USFDA approval for Mupirocin ointment

Glenmark Pharma is currently trading at Rs. 314.30, up by 5.70 points or 1.85% from its previous closing of Rs. 308.60 on the BSE.

The scrip opened at Rs. 311.00 and has touched a high and low of Rs. 316.70 and Rs. 309.00 respectively. So far 70,486 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 389.75 on 07-Dec-2010 and a 52 week low of Rs. 241.60 on 28-Feb-2011.

Last one week high and low of the scrip stood at Rs. 316.70 and Rs. 304.55 respectively. The current market cap of the company is Rs. 8474.65 crore.

The promoters holding in the company stood at 48.31% while Institutions and Non-Institutions held 37.37% and 14.31% respectively.

Glenmark Generics’ (GGL) United States (US) subsidiary -- Glenmark Generics Inc., (GGI) -- has been granted final approval for its Abbreviated New Drug Application (ANDA) from the United States Food and Drug Administration (USFDA) for Mupirocin ointment USP, 2%.

Mupirocin ointment is indicated for the topical treatment of impetigo due to: Staphylococcus aureus and Streptococcus pyogenes and is available in a 22 gram tube presentation. Mupirocin ointment garnered annual sales of $55 million and achieved a 9% increase in growth compared to the same period last year.

Glenmark’s current portfolio consists of 68 products authorized for distribution in the US marketplace and 39 ANDA’s pending approval with the US FDA. In addition to these internal filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.

GGL is a subsidiary of Glenmark Pharmaceuticals and aims to be a global integrated Generic and API leader. GGL has an established presence in North America, EU and Argentina and maintains marketing front-ends in these countries.

On consolidated basis, the group’s net profit after tax for the year ended March 31, 2011 increased marginally by 38.30% at Rs 457.83 crore as compared to Rs 331.03 crore for the previous year. Total income for the year increased by 21.93% at 3089.59 crore as compared to Rs 2533.81 crore for the previous year.

Phoenix Mills ascends on getting an upgradation in its fundamental grade to 3 /5

Phoenix Mills is currently trading at Rs 194.25, up by 3.45 points or 1.81% from its previous closing of Rs 190.80 on the BSE.
The scrip opened at Rs 196.90 and has touched a high and low of Rs 197.75 and Rs 193.00 respectively. So far 4176 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 269.25 on 09-Sep-2010 and a 52 week low of Rs 160.00 on 14-Mar-2011.
Last one week high and low of the scrip stood at Rs 197.75 and Rs 183.20 respectively. The current market cap of the company is Rs 2810.73 crore.
The promoters holding in the company stood at 65.92% while Institutions and Non-Institutions held 27.44% and 6.64% respectively.
Rating agency, CRISIL Equities has upgraded Phoenix Mills CRISIL IER fundamental grade to 3/5 from 2/5. The grade indicates that the company’s fundamentals are good relative to other listed equity securities in India. The rating agency has also assigned a valuation grade of 4/5 to the company.
The rating agency has revised the company’s fundamental grade following consistently strong performance by its consumption centre High Street Phoenix (HSP) in Mumbai, encouraging pre-leasing activities in upcoming market city projects and the company`s strong balance sheet despite it being in an asset-heavy retailing business.
The assigned grade factors in strong cash flows from HSP, an established retail destination housing marquee tenants such as Zara, Diesel, Manchester United CafA, Hamleys, etc. with more than 1 million footfalls a month.
Phoenix Mills engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.

Gujarat NRE Coke rises on the bourses

Gujarat NRE Coke is currently trading at Rs. 50.80, up by 1.25 points or 2.52% from its previous closing of Rs. 49.55 on the BSE.

The scrip opened at Rs. 50.00 and has touched a high and low of Rs. 51.50 and Rs. 50.00 respectively. So far 1,76,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 72.00 on 05-Jan-2011 and a 52 week low of Rs. 41.00 on 25-Feb-2011.

Last one week high and low of the scrip stood at Rs. 51.50 and Rs. 48.80 respectively. The current market cap of the company is Rs. 2668.64 crore.

The promoters holding in the company stood at 47.50% while Institutions and Non-Institutions held 29.14% and 23.36% respectively.

Gujarat NRE Coke has launched an issue of $50 million direct, unsubordinated, unconditional and unsecured convertible bonds due to matured by 2016. However, issue is subject to an over allocation of $10 million worth bonds convertible into ordinary equity shares of the company quoted in Indian Rupees. First International Group and UBS AG are appointed as the Joint Book runners for the offering of the bonds.

The bonds are proposed to the listed on the Singapore Exchange Securities Trading and the equity shares of the company to be issued upon conversion of the bonds shall be listed on the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

Further, the issue of the bonds and issuance at the equity of the company upon conversion of the bonds was authorized by a resolution of the Board of Directors of the company at a meeting held on October 21, 2010 and by a special resolution of the shareholders passed by postal ballot the result of which was declared on December 13, 2010. Further the opening of the issue has been authorized by a resolution of the management committee of the Board of Directors of the Company passed at a meeting held on June 09, 2011.

MMTC rises on the bourses

MMTC is currently trading at Rs. 916.00, up by 4.85 points or 0.53% from its previous closing of Rs. 911.15 on the BSE.
The scrip opened at Rs. 918.00 and has touched a high and low of Rs. 918.00 and Rs. 912.00 respectively.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1935.00 on 29-Jul-2010 and a 52 week low of Rs. 867.80 on 25-Mar-2011.
Last one week high and low of the scrip stood at Rs. 928.90 and Rs. 901.10 respectively. The current market cap of the company is Rs. 91115.00 crore.
The promoters holding in the company stood at 99.33% while Institutions and Non-Institutions held 0.52% and 0.15% respectively.
MMTC, the country’s largest foreign trading company, is planning to take a major leap in the non-conventional energy sector, after its successful pilot project in Karnataka. The company will invest around Rs 240 crore in the next two years to set up new wind mill units across the country, as a part of diversification.
The company has already commenced its first 15-MW wind farm project in Gajendragad, Karnataka. For the last four years the state-owned firm owns 100 acres of wind farm with 54 wind mills generating over 102 million units of power. It supplies electricity to HESCOM/KPTCL, a unit of Hubli Electricity Supply Company of the Karnataka.
The company’s new investment plan comes in the wake of the success of its 15 MW windmill plant in Karnataka. The pilot project comprising of 25 windmill units was set up in Gajendragad in Gadag district with an investment of Rs 68.75 crore in 2007.

ANGEL STOCK MARKET