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.

FII DII DATA 09/06/2011

Net Index Futures (-268), Net Stock Futures (-270), Derivative Market: Total Open Interest (Rs 1,26,408 cr), Stock Futures Open Interest (Rs 33,383 cr)

Indian ADRs Update 09/06/2011

 INFOSYS Down 0.5 (0.8%), WIPRO Up 0.1 (0.4%), ICICI BANK Down 0.6 (1.2%), HDFC BANK Down 0.1 (0.0%)

Global Markets update 09/06/2011

 DJIA Down 21.9 (0.2%) NSDQ Down 26.2 (1.0%) FTSE 100 Down 55.8 (1.0%) Asian Markets  NIKKEI Down 27.87 (0.29%) HANG SENG Down 119.74 (0.53%) SGX NIFTY Down 16.50

BANKNIFTY FOR SUPPORT 09/06/2011

BANKNIFTY (2nd Resistance) 10959.48
(1st Resistance) 10879.47
Pivot point 10814.78
(1st Support) 10734.77
(2nd support) 10670.08

NIFTY FOR SUPPORT 09/06/2011

NIFTY (2nd Resistance) 5581.08
(1st Resistance) 5555.47
Pivot point 5533.38
(1st Support) 5507.77
(2nd support) 5485.68

FII DII DATA 08/04/2011

Net Index Futures (-269), Net Stock Futures (-359), Derivative Market: Total Open Interest (Rs 1,26,204 cr), Stock Futures Open Interest (Rs 33,253 cr)

Indian ADRs Update 08/04/2011

 INFOSYS Up 0.1 (0.2%), WIPRO Down 0.1 (0.4%), ICICI BANK Up 0.1 (0.3%), HDFC BANK Down 2.3 (4.1%)

Global Markets update 08/04/2011

DJIA Down 17.3 (0.1%) NSDQ Down 3.7 (0.1%) FTSE 100 Down 33.8 (0.6%) Asian Markets as on 8.45 AM  NIKKEI Up 88 (0.91%) HANG SENG Up 161 (0.66%) SGX NIFTY Up 1.5

FII DII DATA 07/04/2011

Net Index Futures (-117), Net Stock Futures (-305), Derivative Market: Total Open Interest (Rs 1,24,609 cr), Stock Futures Open Interest (Rs 32,812 cr)

Indian ADRs Update 07/04/2011

INFOSYS Down 0.3 (0.4%), WIPRO Down 0.1 (0.6%), ICICI BANK Down 0.6 (1.2%), HDFC BANK Down 0.6 (0.4%)

Global Markets update 07/04/2011

DJIA Up 32 (0.3%) NSDQ Up 8.6 (0.3%) FTSE 100 Up 34.1 (0.6%) Asian Markets as on 8.45 AM  NIKKEI Up 55 (0.57%) HANG SENG Down 41 (0.17%) SGX NIFTY Down 2

Global Markets update 06/04/2011

DJIA Down 6.1 (0.1%) NSDQ Up 2.0 (0.1%) FTSE 100 Down 9.9 (0.2%) Asian Markets as on 8.45 AM  NIKKEI Down 21 (0.21%) HANG SENG Up 54 (0.23%) SGX NIFTY Up 21

Ashok Leyland gains on its plans to be among top 10 truck-makers globally

Ashok Leyland is currently trading at Rs. 59.25, up by 0.85 points or 1.46% from its previous closing of Rs. 58.40 on the NSE.

The scrip opened at Rs. 59.00 and has touched a high and low of Rs. 59.80 and Rs. 58.70 respectively. So far 11,76,244 shares were traded on the counter.

The NSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 81.90 on 08-Nov-2010 and a 52 week low of Rs. 45.10 on 24-Feb-2011.

Last one week high and low of the scrip stood at Rs. 59.80 and Rs. 56.10 respectively. The current market cap of the company is Rs. 7849.00 crore.

The promoters holding in the company stood at 38.61% while Institutions and Non-Institutions held 31.33% and 16.62% respectively.

Ashok Leyland in a bid to break into the list of top 10 global truck manufacturers and top five bus makers in the next 5-10 years is adopting a three-pronged strategy. The company is currently among list of top 20 in truck manufacturing and among top 10 in bus manufacturing globally.

The three-prolonged strategies on which the company will be working would be - focusing on delivering quality products, developing and managing people, and leveraging the value of products by adopting new branding exercise.

Ashok Leyland had set a target of selling around 1.10 lakh to 1.20 lakh units during this financial year (2011-12). Till March 31, the company has sold 94,100 units with exports contributing over 10,000. The company has also ramped up the capacity of its Pant Nagar facility to produce 30,000-40,000 vehicles from next year from the present 2,600 units.

Recently, Ashok Leyland and Japanese auto-maker Nissan Motor Company rolled out their first light commercial vehicle under the brand, 'Ashok Leyland - DOST'. The company’s net profit for the quarter ended December 31, 2010 has plunged by 58.55% at Rs 43.37 crore as compared to Rs 104.63 crore for the quarter ended December 31, 2009.

Gravita India jumps on acquiring K. M. Udyog, Jammu

Gravita India is currently trading at Rs. 410.80, up by 8.70 points or 2.16% from its previous closing of Rs. 402.10 on the BSE.
The scrip opened at Rs. 406.05 and has touched a high and low of Rs. 412.90 and Rs. 406.05 respectively. So far 51,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 421.85 on 04-Apr-2011 and a 52 week low of Rs. 165.70 on 10-Dec-2010.
Last one week high and low of the scrip stood at Rs. 421.85 and Rs. 335.60 respectively. The current market cap of the company is Rs. 547.66 crore.
The promoters holding in the company stood at 73.52% while Institutions and Non-Institutions held 7.45% and 19.03% respectively.
Gravita India together with its subsidiary company - Gravita Exim has acquired 60% stake in K. M. Udyog, Jammu. The installed lead manufacturing and refining capacity of K. M. Udyog, Jammu is 7200 MT per annum.
With this acquisition, the enhanced capacity of the company will be 45,900 MT per annum. The addition of K. M. Udyog, Jammu is expected to improve the top and bottom line of Gravita India by around rupees sixty five crores and rupees three crores respectively during the financial year 2011-12.
In January this year, Gravita India’s subsidiary - Gravita Exim - has completed the disinvestment of 287,450,000 shares of ZMK 1 each, held by the said subsidiary in Gravita Zambia on December 25, 2010. Gravita Zambia, a wholly owned subsidiary of Gravita Group of Companies, is a growing name in Lead Recycling & Process industries of Zambia. The company is promoted to manufacture Remelted Lead & Plastic Recycling.
Gravita India manufactures lead metal using recycling and smelting process, besides it also makes other lead based products and lead alloys. Lead is the second most recycled metal in the world and is also most widely used across in industrial sectors, especially automobiles.

FII DII DATA 05/04/2011

Net Index Futures (1393), Net Stock Futures (-511), Derivative Market: Total Open Interest (Rs 1,17,370 cr), Stock Futures Open Interest (Rs 31,992 cr)

Indian ADRs Update 05/04/2011

INFOSYS Up 0.3 (0.4%), WIPRO Up 0.0 (0.1%), ICICI BANK Up 0.6 (1.2%), HDFC BANK Up 4.0 (2.3%)

Global Markets update 05/04/2011

DJIA Up 23 (0.2%) NSDQ Down 0.4 (0.0%) FTSE 100 Up 7.1 (0.1%) Asian Markets as on 8.45 AM  NIKKEI Down 112 (1.15%) HANG SENG Up 349 (1.46%) SGX NIFTY Up 0.50