Friday, October 30, 2009

BOR: Market Outlook: Indian markets will have positive opening today with gapup on the back of strong global cues

Market Outlook: Indian markets will have positive opening today with gapup on the back of strong global cues as Wall Street gains on strong Q3 GDP numbers; Dow was up 200 pts & Asia trading higher; Hang Seng, Nikkei also up. Nifty has supports at 4730 and resistances are at 4870-4930. Market is expected to resume its upward momentum. IT & export counters to be in action. Remember, the released GDP numbers are advance numbers while Final GDP numbers are yet to be released. Weaker results from RIL & ONGC is expected to keep markets under check.

Results today: Bharti Airtel, ICICI Bank, IOC, Nalco, SAIL, ABB, Ackruti City, Ashok Leyland, Divi's, Educomp, Federal Bank, Gammon India, GE Shipping, GSK Pharma, Godrej Consumer, Indiabulls Real Estate, Indiabulls Retail, Indiabulls Securities, Indian Hotels, IRB Infra, IVRCL Infra, MTNL, Mundra Port, Nestle, Northgate, Oracle Fin, Orchid Chemicals, Reliance Capital, Thermax, Torrent Power, Uttam Galva, Adani Enterprise, Aditya Birla Nuvo, Aftek, AIA Engg, Allied Digital, Alstom Projects, Ansal Housing, Arvind, Assam Co, Aurobindo, Ballarpur, Bank Of Maharashtra, Bartronics, Berger Paints, Bharat Electronics, Bilpower, Bombay Rayon, BPL, Carborundum, Central Bank, Cinemax, Deccan Chronicle, Dolphin Offshore, Dredging Corp, Easun Reyrolle, EID Parry, Essar Shipping, Fedders Lloyd, Federal-Mogul, FACT, Geodesic, Gujarat Industries Power, GVK Power, Gwalior Chemical, HEG, Hindustan Dorr, ICSA, Ind-Swift, Ind-Swift Labs, IVR Prime, J&K Bank, Karur Vysya Bank, KEC International, Kohinoor Foods, KPIT Cummins, Lakshmi Energy, Max India, Moser-Baer, Mukand, Page Industries, Plethico, PVP Ventures, Raj Oil, Rajesh Exports, RCF, RPG Cables, Saksoft, Sejal Architectural, Simplex Infra, Strides Arcolab, Syndicate Bank, Tanla Solutions, Thinksoft, Uflex, Visa Steel, Vishal Retail, Voltamp

Global events to watch for today:

  • Personal Income and Outlays
  • Employment Cost Index
  • Chicago PMI
  • Consumer Sentiment
  • Farm Prices

Global indices Update @ 9:

Dow Jones : 9962 (+199.89)

Nasdaq : 2097 (+37.94)

Nikkei 225 : 10015 (+124.18)

Hang seng : 21897 (+632.90)

SGX CNX Nifty : 4825 (+46.5)

INR / 1 USD : 47.52

On the global counter: Wall Street gains on strong Q3 GDP numbers; Dow up 200 pts & Asia trading higher; Hang Seng, Nikkei up. US markets rebounded off the prior session's lows after reports showed the economy grew more than expected last quarter and jobless claims fell. Third quarter GDP advanced at an annual rate of 3.5% against an estimate of 3.3%. Remember, these are advance numbers. Final GDP numbers are yet to be released.

Stocks in action for the day: REC, RIL, Patni, HCL Info, TTML

REC (Rural Electrification Corporation) FPO: -CCEA (Cabinet Committee on Economic Affairs) okays 15% FPO (follow on public offer) for REC -To comprise 20% of existing capital -Fresh issue of 15%, 5% of existing capital -To issue 12 crore shares -Public shareholding post FPO to be 33% -Govt shareholding post FPO to be 66.8% -Alert: Govt currently holds 81.82% in REC -Govt Says REC FPO likely this fiscal

Patni -General Atlantic in advanced talks for Patni stake sale -General Atlantic in talks with IBM, Apax partners for sale -General Atlantic in talks with Bain Capital for sale -General Atlantic sees 10% premium over current market price ((Rs 454)) -General Atlantic says do not comment on portfolio companies -Patni CFO says will not comment on speculation

Indiabulls Power to list today, issue price Rs 45 per share

Den IPO closes today, subscribed 0.22 times till now

DLF says to buy out Laing O' Rourke's stake in JV with company

Sterlite says minority stake buyout of Balco, Hindustan Zinc this year

TTML says received investor interest for stake sale in tower business ((Company owns 2,000 towers currently))

HCL Info says L1 bidder with BSNL, premature to talk about size

6 crore TV18 partly paid rights shares to hit market today

Suryachakra Power board approves hiving off coal trading business

Board meets:
on fund raising
Pantaloon Retail on business restructuring
RPG Cables to mull amalgamation with KEC International
Gwalior Chemical to mull buy back
Premier on fund raising

RIL Q2 YoY: Sales up 4.6% at Rs 46848cr Vs Rs 44787cr OPM at 15.41% Vs 14.46% PAT down 6.6% at Rs 3852cr Vs Rs 4122cr RIL Q2 QoQ -Sales up 46.1%; Last Quarter: Rs 32055cr OPM down 307 bps; Last Quarter: 18.47% -PAT up 5.9%; Last Quarter: Rs 3636cr.

ONGC Q2: -Sales down 13.2% at Rs 15191cr Vs Rs 17499.6cr (Est: Rs 15240cr) -OPM at 58.16% Vs 48.6% (Est: 61.6%) -Net Profit up 5.85% at Rs 5089.6cr Vs Rs 4808.4cr (Rs 4962cr Subsidy Burden at Rs 2630cr ((76% of total auto fuel under recovery)) ((Subsidy Burden in Q1 was Rs 429 cr))

Cairn India Q2: -Sales down 28.3% at Rs 229.8cr Vs Rs 320.6cr (Est: Rs 249cr) -OPM at 52.89% Vs 68.59% -Net Profit up 60.1% at Rs 469.5cr Vs Rs 293.3cr -Net realization was $ 59.6/bbl Vs $ 87.3/bbl YoY

BPCL Q2: -Revenues down 28.4% at Rs 27092.3cr Vs Rs 37826.2cr EBITDA Loss of Rs 95cr Vs Rs 2143cr -Net Loss of Rs 158.8cr Vs Rs Loss of Rs 2625.3cr Mumbai Refinery GRMs At $2.14/bbl Kochi Refinery GRMs At $6.25/bbl

DLF Q2 (QoQ): -Revenue Up 6.13% to Rs 1750.94 cr from Rs 1649.86 cr Net Profit Up 11.05% to Rs 439.74 cr from Rs 396 cr-EBIDTA margin at 53% vs 47%

Grasim Q2 (Cons): -Revenues up 5% at Rs 4682.28 Vs Rs 4452.45 Cr-PAT up 61% at Rs 780.8Vs Rs 486.43 Cr -OPM at 32% Vs 21% ((Results not comparable due to sale of Sponge Iron div))

Tata Power Q2: -Revenues at Rs 1672.3 cr vs Rs 1924.2 cr-EBIDTA higher 57.5% to Rs 416.8 cr vs Rs 264.7 cr -Profits at 182.2 cr vs 252.9 cr ((Tax has doubled due to kick in of MAT; had to made some payment for Q1 also))

TTML Q2 Consolidated (QoQ): -Revenues: Rs 550 cr vs Rs 511.93 cr -EBIDTA: 22% vs 30.75% (due to GSM launch expenses) -Net Loss: Rs 116.1 cr vs Rs 34.26 cr

ITI Q2 (QoQ) -Net loss at Rs 78 c r vs Rs 108 cr -Net sales at Rs 795 cr vs Rs 1110 cr -Optg loss at Rs 40 cr vs Rs 38 cr -Interest at Rs 40 cr vs Rs 68 cr

Guj NRE Coke Q2: -Net sales down 23% Rs 383 Cr vs Rs 496 Cr ( QoQ up 24% vs Rs 310 Cr) Operating Profits at R 40 Cr Vs Rs 146 Cr OPM at 11% vs 30% ( QoQ OPM was 5% ) Net Profit down 80% at Rs 20 Cr vs Rs 102 Cr ( QoQ vs was Rs 3.64 CR

Alok Ind Q2: -Net Sales up 39.6% at Rs.974.79cr vs Rs.698.14cr -OPM at 29.94% vs 24.66% -PAT up 26% at Rs.57cr vs Rs.45.26cr

Sasken Q2: -Consolidated revenues down 3% at Rs 135.7 cr vs Rs 139.5 -EBIDTA higher by 9% to Rs 26 cr vs Rs 24 cr -Profit after tax at Rs 16.3 cr vs Rs 20.2 cr -Margins at 19.2% vs 17.2%

Mid-Day Q2 YoY: -Revenue down to Rs 30.01 cr vs Rs 34.96 cr -Operating profit of Rs 3.09 cr vs loss of Rs 1.76 cr (OPM is 10% for this Q) -Net loss of Rs 69 lakhs vs Rs 19.65

Britannia Q2: -Net Profit At Rs 59.1 Cr Vs Rs 53.3 Cr -Net Sales At Rs 859 Cr Vs Rs 839 Cr

Colgate Q2 -Net profit at Rs 89.7 Cr Vs Rs 63.5 Cr -Net sales At Rs 487 Cr Vs Rs 412 Cr

JSL Q2 -Net Sales At Rs 1,328.1 Cr Vs Rs 1,092 Cr -Net Profit At Rs 62.8 Cr Vs Net Loss Of Rs 68.6 Cr

NFL Q2 -Revenue down 19.76% to Rs 1470.65 cr vs Rs 1832.86 cr OPM at 8% vs 7.3%
PAT at Rs 57.72 cr vs Rs 57.34 cr -Interest costs Rs 2.46 cr vs Rs 14.78 cr

Asahi India Q2 Consolidated: -Net Sales At Rs 325.34 Cr Vs Rs 308.60 Cr -Net Loss At Rs 1.16 Cr Vs Net Profit of Rs 19.73 Cr -OPM at 19.4% vs 28.7%

BGR Energy Q2: -Net profit at Rs 30.6 cr vs Rs 23.7 cr -Net sales at Rs 466 cr vs Rs 425 cr -OPM at 12.3% vs 10.3%

Opto Circuits Q2: -Net profit at Rs 67 cr vs Rs 57 cr -Net sales at Rs 255 cr vs Rs 217 cr

DCW Q2: -Net sales at Rs 271.9 cr vs 203.5 cr -Net profit at Rs 21.75 cr vs 9.6 cr -OPM at 16.9% vs 11.1%

Helios And Matheson Q2: Net sales at Rs 48.65 cr vs 55.72 cr Net profit at Rs 4.45 cr vs 6.2 cr

Prime Sec Q2: -Net sales at Rs 6.1 cr vs loss of 57 lk -Net profit at Rs 3.5 cr vs loss of 1.6 lk

Sical Logistics Q2 -Net sales at 127.1 Rs cr vs 123.1 cr Net profit at Rs 2.4 cr vs loss of 41.9 cr -OPM at 8.4% vs 7.2% ((Extraordinary loss at Rs 1 cr vs loss of 43.5 cr))

Apar Ind Q2 -Net sales dn 23.5% at Rs 487 cr vs 637 cr -Net profit at Rs 22.4 cr vs 5.6 cr -OPM at 8.4% vs 2% Expenses lower by 28.5%; EBIT at Rs 37.8 cr vs Rs 9.7 cr.


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