Thursday, October 15, 2009

BOR: Market Outlook: Indian markets will have a positive opening today on account of strong global cues...

Market Outlook: Indian markets will have a positive opening today on account of strong global cues as Dow ends above 10K 1st time since Oct 2008 & Asia trading higher; Nikkei up 2%, Hang Seng gains.. Nifty has supports at 5000-5050 and resistances are at 5250– 5300. Overall the trend is intact up and we may see some more upside in the days to come.

Results today: Bajaj Auto, Bajaj Holdings, JP Hydro, Jindal Saw, Balaji Telefilms, Alembic, ANG Auto, CMC, ETC Networks, Kewal Kiran Clothing, KPIT Cummins, Merck, Reliance Industrial Infra, Supreme Ind

Global events to watch for today:

  • Consumer Price Index
  • Empire State Mfg Survey
  • Jobless Claims
  • EIA Petroleum Status Report
  • Money Supply

Global indices Update @ 9:

Dow Jones : 10015 (+144.80)

Nasdaq : 2172 (+32.34)

Nikkei 225 : 10272 (+212.41)

Hang seng : 22207 (+321.50)

SGX CNX Nifty : 5160 (+40)

INR / 1 USD : 46.16

On the global counter: Wall St gains; Dow ends above 10K 1st time since Oct 2008 & Asia trading higher; Nikkei up 2%, Hang Seng gains. The US markets rallied and the Dow broke through the 10,000 mark for the first time since last October bolstered by strong earnings from JP Morgan and Intel. The S&P 500 & Nasdaq were also at new 2009 highs Banks led the charge on the back of JP Morgan earnings. Bank of America was the biggest percentage gainer on the Dow, ahead of its earnings on Friday. Citigroup and Goldman Sachs report later today.

Stocks in action for the day: RIL, United Spirits, HCL Info, GVK Power

RIL: Aims to finalise refinery, petchem buys in US by 2009 end -No longer selling gasoline to Iran, stopped importing crude from Iran

Indiabulls Power IPO update ((closes today)): Total subscribed 8.86 times; QIB 16.2 times -HNI subscribed 3 times; Retail 0.52 times

United Spirits QIP: Likely to raise $350 million QIP issue priced at Rs 913.7/share -Post issue equity dilution of 14% -QIP book to close before market opening -Proceeds to be used to repay debt and for capex -Bookrunners: Citi, Morgan Stanley, CLSA and UBS

HCL Infosystems: QIP priced at Rs 154.69/share:-QIP book size 15.8% of fully diluted equity Company to raise $70 million with upsize option of $38 million -JM Financial, CLSA bankers to QIP

GVK Power: -GVK Power to raise up to Rs 1,800 crore via FCCB/QIP issue ((had taken approval for Rs 2500 crore, raised Rs 700 crore already)) -GVK Power says not signed agreement to increase stake in MIAL ((reported yesterday company to increase stake in MIAL to 50% form 37%))

Special audit period of Telecom companies may be extended to cover FY09 -Alert: Current Special Audit period of Telecom companies is 2006-07 and 2007-08 -Bharti Airtel has voluntarily sought extension of audit to FY09

Matrix Labs-Pfizer settle Voriconazole Tablets dispute Matrix Labs: -Company to have US marketing rights for generic VFEND by Q1, 2011 -Additional details of agreement with Pfizer confidential -Alert: Voriconazole is generic version of Anti-fungal Drug VFEND

Cairn India completes $1.6 billion funding for Rajasthan project

Board meets: Jindal Saw on stock split

Ess Dee Aluminium board meet on October 16 on QIP issue

SpiceJet plans to fly overseas next year

Vavasi group in talks with China Mobile for Zain bid

Ispat, Aban still in NSE F&O curb

Parsvnath Q2 (QoQ): -Revenues: up 50.23% from Rs 115.29 crore to Rs 173.07 crore -Other Income at Rs 27.69 crore versus Rs 3.37 crore -Net Profit: Up 344.75% from Rs 13.81 crore to Rs 61.42 crore ((Other income includes 4% stake sale in LA Tropicana to Red Fort done on September 30))

Container Corp Q2 Standalone: -Net sales at Rs 959.90 crore versus Rs 903.36 crore -Net profit at Rs 204.35 crore versus Rs 223.68 crore

Bajaj Auto Finance Q2: -Total income: up 60% to Rs 219.7 crore -NII: Up 84% to Rs 173.7 crore Provisions at Rs 58.5 crore versus Rs 36.4 crore -Net Profit: Up 375% to Rs 21.7 crore Deployment: Up 81% to Rs 1003.5 crore -Capital adequacy at 30.7%. Bajaj Finserve Q2: Income from Operations: Rs 106.73 crore versus Rs 92.37 crore -Net Profit of Rs 44 crore versus net loss of Rs 11.87 crore -Life Insurance business profit of Rs 125 crore versus loss of Rs 23.7 crore General Insurance net profit Rs 27 crore versus 25 crore -Bajaj Auto Finance net profit Rs 21.69 crore versus Rs 4.57 crore

Motilal Oswal Q2: -Net sales up 24% at Rs 171.2 crore versus Rs 138 crore ((up 15% QoQ versus Rs 147.5 crore)) -OPM at 41% versus 39% ((QoQ margins were at 38%)) -Net profit up 75% at Rs 47.5 crore versus Rs 27.1 crore ((up 38% QoQ versus Rs 34 crore))

Rallis India Q2: -Net profit at Rs 45.7 crore versus Rs 41.6 crore -Net Revenue At Rs 317 crore

versus Rs 280 crore

Sonata Q2 QoQ: -Revenues at Rs 347.33 crore versus Rs 378 crore -EBIDTA at Rs 46.44 crore versus Rs 38.32 crore -Net profit at Rs 21.35 crore versus Rs 17.76 crore


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