Jyothy Lab, TVS Motors, Biocon and P&G to garner investor’s attention today

Mumbai-based Jyothy Laboratories has acquired a 14.9% stake in Henkel India from Tamil Nadu Petro Products for Rs 60.73 crore in an all-cash deal.

Chennai-based Ashok Leyland Defence Systems (ALDS) has entered into a tie up with Krauss-Maffei Wegmann (KMW) GmbH and Co KG, Germany, to co-operate in developing advanced defence systems for Indian defence establishment as well as other defence forces worldwide.

Hero Honda has set aside a kitty of Rs 100 crore to create a new brand identity that will lead to a new company name and corporate logo to be etched on every bike and scooter it sells in the Indian market. The promoter of Hero Honda, Hero Investments (HIPL) has pledged further shares of the company to IL&FS Trust Company, raising an estimated Rs 200 crore.

The country’s third largest two-wheeler manufacturer, TVS Motors, is mulling a low-priced motorcycle to shore up volumes in the Indian market. The product, when introduced, would be the cheapest motorcycle in the country.

SKS Microfinance will raise additional funds from banks, a move likely to help it tide over liquidity shortage.

FMCG giant Procter and Gamble (P&G) is reducing the price of its sanitary napkins and baby diapers by up to 15 per cent as a result of the excise duty cut announced during the recent Union Budget.

FMCG major, Nestle India will not only be undertaking selective price hikes but will also be reducing the weight for its chocolate products in order to combat rising raw material costs.

Retail chain Shoppers Stop may increase prices of its products by 6-7 per cent from April this year in order to offset the 10 per cent excise duty imposed on branded apparel in the Budget 2011-12.

As per the government - Idea Cellular, Etisalat and state-owned BSNL subscribers are facing the problem of frequent call drops and they are not meeting the TRAI benchmark regarding it.

State-run Coal India (CIL) is negotiating 10-year contracts with overseas suppliers in an attempt to insulate Indian consumers from any volatility in global coal prices.

Hindustan Zinc (HZL), the world's largest integrated producer of zinc, has paid Rs 995 crore as advance tax in the current fiscal year, which is 35% higher than that last year.

The drug price regulator has allowed local pharma companies Wockhardt and Biocon to increase prices of their insulin brands due to rising input costs.

Kolkata-based consumer goods firm Emami has appointed Indian cricketer Mahendra Singh Dhoni as the brand ambassador for its digestive tonic -- Zandu Pancharishta.

Tata Group's hospitality firm Indian Hotels Company subsidiary Roots Corporation will sell a minority stake to the Singapore based Omega TC Holdings for Rs 150 crore.

Kingfisher and Paramount are defaulting airlines in payment to the Airports Authority of India for services including landing charges, parking and housing charges and licence fees for space/land allotments.

Delhi-based real estate company, Parsvnath Developers is close to selling stake in its Parsvnath City project in Sonepat for Rs 100 - 150 cr.

IT Solutions provider, 3i Infotech is all set to sell its US subsidiary, Regulus for $100 million. The deal is expected to be closed within the next 3 months.

The country’s largest fast moving consumer goods (FMCG) company, Hindustan Unilever (HUL), is using ‘out-of-home’ aggressively to grow its foods business. Out-of-home here means initiatives undertaken beyond just selling products.

Nine bidders, including JSW Energy-Leighton Contractors and GVK-Samsung consortia, are in the race to develop the Rs 3,000-crore Tadadi port project in Karnataka.

Country's largest lender State Bank of India (SBI) has raised Rs 5,496.9 crore from retail bonds to fund its expansion plans. State Bank Of India had accorded approval for raising Tier II Capital for an aggregate amount of Rs. 10,000 crore.

German multinational Siemens has set-up a financial services arm Siemens Financial Services (SFSPL) in India.

The world's seventh-largest steelmaker - Tata Steel has decided to raise money by selling Rs 1,500 crore ($332 million) of perpetual bonds. The Tier-I bonds carry a coupon of 11.8 per cent payable semi annually.

Telecom service provider Reliance Communications has partnered with mobile solutions provider TELibrahma to deliver video updates and replays from the ICC World Cup Cricket matches on mobiles for all cricket lovers.

ARSS Infrastructure Projects has signed the concession agreement with Commerce and Transport Dept, Government of Orissa for development of modern bus terminal at Baramunda in Bhubaneswar through Public Private Partnership (PPP) mode.

Educomp Solutions’ ICT division has bagged two multimedia content development projects totaling Rs 6.81 crore from the Government of Gujarat and Assam.

Aurum Soft Systems inks business transfer agreement with Accel IT Resources

Aurum Soft Systems has entered into a business transfer agreement on March 15, 2011 with Accel IT Resources (AITRL) for acquisition of the latter’s IT Resourcing Business for a total consideration of Rs. 5 crores. As part of the acquisition which would be effective from April 01, 2011, around 1400 employees of AITRL would become employees of Aurum Soft systems.

Aurum Soft Systems would continue to render IT resourcing services to Accel group companies, which is currently being rendered by AITRL to its group companies. The revenue from the IT Resourcing business over the next five year period is estimated at Rs 75 crores with a margin of around Rs 7 crores.

Aurum Soft Systems is a leading provider of Enterprise Applications and flexible IT Solutions. The company specializes in providing unique business solutions to the Hospitality, Manufacturing, Trading and Retail sectors by continuous innovation and domain focused approach.

FII DII DATA 17/03/2011

Net Index Futures (707), Net Stock Futures (288), Derivative Market: Total Open Interest (Rs 1,41,406 cr), Stock Futures Open Interest (Rs 31,954 cr)

Markets likely to make a weak start; RBI policy action eyed

The Indian markets swayed along with the global cues and made a good recovery after a big fall in last session. All the rate sensitive sectors surged shrugging off the fear of rate hike by RBI in its mid quarterly policy review. Today the start is likely to be soft-to-cautious as the global cues once again have turned negative on concerns of devastating impact of Japanese crisis aftermath. Today all eyes will be on the Reserve Bank of India for its policy announcement; the general expectation is that the apex bank will go for a 25 basis point hike in policy rates to rein in the rising inflation; however 25 basis point hike in the repo rate is not likely to push up lending rates considerably and the rate sensitive might not go for a frenzy with it as it has already been discounted however, anything higher will impact shares negatively. If the central bank raises both the repo and the reverse repo by quarter of a percentage point each, the repo rate could move up to 6.75 per cent and the reverse repo to 5.75 per cent.  Also the weekly inflation numbers will be announced and that will give direction for the further course of action. Data for February showed headline WPI rising to 8.31 per cent, much higher than the estimates and also above the RBI’s projection of 7 per cent by the end of March.

The US markets suffered sharp fall on Wednesday and major indices erased nearly all of their gains for the year. The crisis in Japan deepened while the economic news too were not supportive that led the decline in the markets. Most of the Asian markets have made a weak start and majority of the indices are trading lower by about a percent with Japanese Nikkei suffering the most.

Back home, Indian benchmarks elegantly convalesced majority of Tuesday’s losses to snap last day’s session above crucial resistance levels as investors covered the hefty short positions that got built in previous session amid the global weakness due to aftershock in Japan. The sanguinity in the global markets got transmitted into the domestic frontline indices after investors in Tokyo resorted to intense bottom fishing in the fundamentally strong but highly undervalued shares. At home too investors piled up huge positions in rate sensitive counters like realty, banks and auto ahead of RBI’s mid-quarterly policy review on March 17. However, the bounce back in crude oil prices coupled with weakness in European markets in the dying hours of trade pulled the bourses off the day’s high level but they still settled with gains of a percent each. The NSE’s 50-share broadly followed index Nifty, pared some of its gains in the end but managed to hold on to the crucial 5,500 support level while Bombay Stock Exchange’s Sensitive Index, or Sensex closed a tad short of double century gains above the psychological 18,350 mark. The broader markets too finished with strong gains and managed to outperform their larger peers. Earlier on Dalal Street, the benchmark got off to an optimistic start as the index bounced back taking cues from the rebound in other Asian markets on bargain buying and a further decline in crude oil prices. The markets continued to trade firm through the day’s trade thanks to sustained buying in several front line stocks. The bourses after touching intraday highs in the second half pared some portion of their gains due to rebound in crude oil prices coupled with somber cues from the European peers. Eventually markets managed to perform largely in line with Asian peers and settle with over a percent gain. Finally, the BSE Sensex gained 191.05 points or 1.05% to settle at 18358.69 while the S&P CNX Nifty rose by 61.50 points or 1.13% to end at 5,511.15.

The US markets plunged on Wednesday closing lower for the third consecutive day, fears that a partial meltdown may have occurred at a nuclear plant in Japan led the markets for a sharp selloff. The mood was somber from the beginning after the European Union's energy chief said that Japan’s nuclear crisis could get worse. Japan temporarily suspended work at a stricken nuclear plant after a surge in radiation made it too dangerous for workers to remain there. There was a weak economy report that catalysed the fall, the Commerce Department reported that new home construction fell to the second-lowest level on record in February, reflecting weak demand.

Home construction plunged 22.5 percent in February from January to a seasonally adjusted 479,000 homes. Single-family homes, which make up roughly 80 percent of home construction, fell 11.8 percent in February. Apartment and condominium construction dropped 47 percent, reversing much of January's gains. Building permits, an indicator of future construction, fell 8.1 percent last month to the lowest level on records dating back to 1960.

The Dow Jones industrial average plunged by 242.12 points, or 2.04 percent, to 11,613.30. The S&P index fell by 24.99 points, or 1.95 percent, to 1,256.88, while the Nasdaq composite index closed lower by 50.51 points or 1.89 percent, to 2,616.12.

Crude prices recovered on Wednesday after witnessing a sharp fall in previous session, though the trade remained volatile as Middle East unrest came on the forefront again after violent clashes in Bahrain and Yemen, near top oil producer Saudi Arabia. Also, mounting concern over Japan’s nuclear crisis and weak equities too weighed and limited the rise.

Meanwhile, US Energy Information Administration (EIA) showed gasoline stockpiles fell 4.17 million barrels last week. Distillate stocks also dropped more than expected, lifting US heating oil futures, while crude stockpiles increased more than expected.

Benchmark crude for April rose 80 cents, or 0.8 percent, to settle at $97.98 a barrel, after trading in a range from $96.22 to $99.60 on the New York Mercantile Exchange. In London, Expiring ICE Brent crude for April rose $2.10, or 1.94 percent, to settle at $110.62 a barrel on the ICE

Indian ADRs Update 17/03/2011

INFOSYS Down 1.7 (2.6%), WIPRO Up 0.1 (0.9%), ICICI BANK Up 0.0 (0.1%), HDFC BANK Down 3.0 (1.9%)

Global Markets update 17/03/2011

 DJIA Down 242 (2.0%) NSDQ Down 50 (1.9%) FTSE 100 Down 97 (1.7%) Asian Markets as on 8.45 AM  NIKKEI Down 190 (2.09%) HANG SENG Down 522 (2.3%) SGX NIFTY Down 52

BHEL gains on receiving ‘N’ and ‘NPT’ certificates from ASME

BHEL is currently trading at Rs 1934.70, up by 12.80 points or 0.67% from its previous closing of Rs 1921.90 on the BSE.

The scrip opened at Rs 1944.00 and has touched a high and low of Rs 1944.00 and Rs 1932.00 respectively. So far 4,420 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 2695.00 on 07-Oct-2010 and a 52 week low of Rs. 1905.35 on 15-Mar-2011.

Last one week high and low of the scrip stood at Rs. 2058.00 and Rs. 1905.35 respectively. The current market cap of the company is Rs. 94080.85 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 25.95% and 6.33% respectively.

American Society of Mechanical Engineers (ASME) - a professional body and an engineering society, has awarded the high pressure boiler plant of Bharat Heavy Electricals (BHEL) with ‘N’ and ‘NPT’ certificates. BHEL is now authorized to use N and NPT stamps for Nuclear vessels to Cl 1, 2, 3 requirements, piping systems to Cl 1, 2, 3 requirements, storage tanks to Cl 2,3 requirements, shop assembly and fabrication without design responsibility to Cl 1, 2 and 3 requirements.

Upon receiving the certification which is valid for three years from January 31, 2001, it is also recognized as a materials organization by ASME. BHEL has been awarded after in-house efforts of the company for nearly a year and rigorous audits by ASME auditors of the quality systems of the company to meet the stringent requirements of the nuclear components.

Since nuclear power is fast growing as a source of electricity in India after thermal, hydro and renewable sources, the authorization assumes important for BHEL. India has 19 nuclear power plants in operation generating 4,560 MW while four others are under construction and are expected to generate an additional 2,720 MW of energy.

ASME - one of the oldest standards-developing organizations in the world, the society produces approximately 600 codes and standards, covering many technical areas, such as boiler components, elevators, and measurement of fluid flow in closed conduits, hand and machine tools.

Voltas jumps on its plans of launching 70 new air conditioners this year

Voltas is currently trading at Rs. 156.90, up by 5.15 points or 3.39% from its previous closing of Rs. 151.75 on the BSE.

The scrip opened at Rs. 154.00 and has touched a high and low of Rs. 158.00 and Rs. 154.00 respectively. So far 27,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 262.50 on 11-Nov-2010 and a 52 week low of Rs. 147.35 on 14-Mar-2011.

Last one week high and low of the scrip stood at Rs. 158.20 and Rs. 147.35 respectively. The current market cap of the company is Rs. 5133.68 crore.

The promoters holding in the company stood at 30.58% while Institutions and Non-Institutions held 47.30% and 22.12% respectively.

Voltas, India’s premiere air conditioning and engineering services company from the house of Tatas, today introduced its new, powerful range of air conditioners in the capacity band of 0.75 tons to 3 tons. The company this year has planned to penetrate the market with a varied set of 70 air conditioners.

Amongst the new models, highlights for this year will be Vertis Elegant, Vertis Gemini, Vertis Pluto, Vertis Pearl and Platina, and the re-launch of the revolutionary DC Inverter Technology. The company’s brand is a premier player to have introduced a large assortment of 5 star rated AC’s in the 2T category, with one of a kind scroll compressor inbuilt into its product that assure maximum efficiency.

The company will back the launch of these new products with a marketing budget of Rs.50 crores for the current year. Voltas’ AC is sold from over 5000 touch points across India and expected to grow by 20% next year.

The company reported a decrease of 2.59% in net profit after tax to Rs 67.01 crore for the quarter ended December 2010 from Rs 68.79 crore in the same quarter last year. Total income for the quarter rose 8.75% to Rs 1006.88 crore as compared to Rs 925.83 crore in the same quarter last year.

Reliance Broadcasts surge on its Big CBS Prime ties up with Airtel Digital TV

Reliance Broadcast Network is currently trading at Rs. 77.00, up by 2.45 points or 3.29% from its previous closing of Rs. 74.55 on the BSE.

The scrip opened at Rs. 75.75 and has touched a high and low of Rs. 77.40 and Rs. 75.70 respectively. So far 43,489 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 121.80 on 03-Sep-2010 and a 52 week low of Rs. 45.60 on 27-May-2010.

Last one week high and low of the scrip stood at Rs. 79.80 and Rs. 73.00 respectively. The current market cap of the company is Rs. 610.18 crore.

The promoters holding in the company stood at 63.87 % while Institutions and Non-Institutions held 0.62 % and 35.51 % respectively.

Reliance Broadcast Network’s arm BIG CBS Networks has announced the signing of the deal with Bharti Airtel Digital TV to further strengthen its distribution network. This alliance allows BIG CBS immediate access to the excellent audience of Bharti Airtel Digital TV, allowing for wide reach of its channels.

With this alliance Bharti Aitel digital customers can now enjoy the latest and freshest shows like NCIS, Bellator, and Survivor among others apart from its soon to be launched series like ''Big CBS Love'' and ''Big CBS Spark''. At present, Bharti Airtel has a subscriber base of five million subscribers.

BIG CBS Prime in a short span has managed to move up to number 3 position. The company wants to amplify the reach of the channel and through alliance it will get closer to its target. Big CBS Prime is already available in India across all over major digital cable and direct to platforms like Hathway, Digi Cable, Sun Direct, Reliance Digital and Videocon DTH among others.

BANKNIFTY FOR SUPPORT 16/03/2011

BANKNIFTY (2nd Resistance) 10905.43
(1st Resistance) 10814.02
Pivot point 10713.58
(1st Support) 10622.17
(2nd support) 10521.73

NIFTY FOR SUPPORT 16/03/2011

 NIFTY (2nd Resistance) 5572.07
(1st Resistance) 5509.83
Pivot point 5442.72
(1st Support) 5380.48
(2nd support) 5313.37

FII DII DATA 16/03/2011

Net Index Futures (-1614), Net Stock Futures (-116), Derivative Market: Total Open Interest (Rs 1,38,502 cr), Stock Futures Open Interest (Rs 31,207 cr)

Indian ADRs Update 16/03/2011

INFOSYS Down 1.3 (2.0%), WIPRO Down 0.6 (4.2%), ICICI BANK Down 0.2 (0.5%), HDFC BANK Up 1.1 (0.7%)

Global Markets update 16/03/2011

DJIA Down 137 (1.2%) NSDQ Down 33 (1.3%) FTSE 100 Down 80 (1.4%) Asian Markets as on 8.45 AM  NIKKEI Up 348 (4.05%) HANG SENG Down 103 (0.46%) SGX NIFTY Up 14

BANKNIFTY FOR SUPPORT 15/03/2011

BANKNIFTY (2nd Resistance) 11115.82
(1st Resistance) 11032.03
Pivot point 10891.02
(1st Support) 10807.23
(2nd support) 10666.22

NIFTY FOR SUPPORT 15/03/2011

NIFTY (2nd Resistance) 5635.7
(1st Resistance) 5595.5
Pivot point 5521.8
(1st Support) 5481.6
(2nd support) 5407.9

FII DII DATA 15/03/2011

Net Index Futures (1262), Net Stock Futures (-69), Derivative Market: Total Open Interest (Rs 1,39,355 cr), Stock Futures Open Interest (Rs 31,828 cr)

Indian ADRs Update 15/03/2011

INFOSYS Up 0.3 (0.4%), WIPRO Up 0.1 (1.0%), ICICI BANK Down 0.3 (0.6%), HDFC BANK Up 1.1 (0.7%)

Global Markets update 15/03/2011

DJIA Down 51 (0.4%) NSDQ Down 14 (0.5%) FTSE 100 Down 53 (0.9%) Asian Markets as on 8.45 AM  NIKKEI Down 957 (9.54%) HANG SENG Down 808 (3.48%) SGX NIFTY Down 165

FII DII DATA 11/03/2011

Net Index Futures (-547), Net Stock Futures (-129), Derivative Market: Total Open Interest (Rs 1,33,020 cr), Stock Futures Open Interest (Rs 31,424 cr)