Tuesday, November 3, 2009

BOR: Market Outlook: Indian markets may have flat to negative opening today on the back of mix action on the global counter.

Market Outlook: Indian markets may have flat to negative opening today on the back of mix action on the global counter. Nifty has supports at 4630-4650 and resistances are at 4800-4850. The market may remain volatile. Technically the market is still weak and any up moves that we get would be sold. We remain cautious on market performance. Auto & Cement counters to be in action for the day as companies have reported the monthly numbers which are better than expected. Tata Motors, Maruti & Bajaj Auto are in specific.

Global events to watch for today:

  • FOMC Meeting
  • Motor Vehicle Sales
  • Factory Orders
  • 4-Week Bill Auction

Global indices Update @ 9:

Dow Jones : 9789 (+76.71)

Nasdaq : 2049 (+04.09)

Nikkei 225 : 9802 (-231.79)

Hang seng : 21540 (-80.17)

SGX CNX Nifty : 4668 (-28)

INR / 1 USD : 46.96

On the global counter: Wall Street ends higher; Dow up 76 points & Asia trading mixed; Nikkei down 2.3%, Shanghai Composite up. A late rally on Wall Street helped the Dow finish in positive territory on Monday. Earlier the Dow was up more than 140 points led by a report, which showed manufacturing expanded more than expected last month. In economic news from the US, the ISM reported its gauge of manufacturing activity at 55.7 in October, the third straight month of growth and the highest reading since April 2006. Among the other economic data, pending-home sales rose to their highest level in nearly three years in September, boosted by the first-time homebuyer's tax credit. Also construction spending rose 0.8% in the month of September.

Stocks in action for the day: Bharti, SBI, HUL, Maruti, Bajaj Auto.

SingTel: To buy additional 730,000 shares in Bharti Telecom -Stake buy completion likely on November 12-Bharti Telecom is promoter company of Bharti Airtel holding about 45.3% -SingTel’s effective interest in Bharti Telecom to increase to 36.16% versus 32.81% -SingTel's stake in Bharti Airtel to increase to 31.95% versus 30.43% -Total amount payable between Rs 1,807.3 crore to Rs 3,008.4 crore

Reliance Communication: -Signs MNP implementation deal with 8 vendors -Alert: MNP is mobile number portability -Vendors are Tekelec, HP, Intec, Huawei, ZTE, Lucent, Ericsson & RTS -Deal value likely to be between Rs 700-800 crore

Tata Motors October YoY: Sales up 34% at 53,404 units -CV sales up 59% to 30541 units -M&HCVs sales up 63% to 11916 units -Passenger vehicle sales up 25% to 17557 units

Maruti October: -Total sales up 32.4% to 85,415 units -Domestic sales up 21% to 71,55 units -Exports up 158.5% to 13,864 units

Bajaj Auto October: -Total sales up 46% to 2,80,455 units -2-wheeler sales in October up 51% to 2,49,974 units-3-wheeler sales in october up 16% to 30,481 units -Exports up 12% to 84,012 units

TVS Motor October: -2-wheeler sales up 12% to 1,31,029 units -Domestic sales up 18% to 1,18,563 units -Exports down 26.7% to 12,466 units

Ambuja Cements October: -Despatches at 14.64 lakh tonnes versus 14.21 lakh tonnes (YoY)

Aptech says BJBC puts IPO plans on hold ((BJBC is a subsidiary of Aptech, had filed for IPO on NYSE))

Den IPO subscribed 1.04 times ((closed on Friday))

Basmati prices crash by Rs 500/quintal in last 15 days

Mukand to sell surplus land at Kalwa to reduce its Rs 1,350 crore debt

Gwalior Chemical to buyback 40.5 lakh shares @ Rs 120 via tender offer

Goldaim International buy back at maximum Rs 50/share

Results: (cr - crore, vs - versus, cons - consolidated)

SBI Q2: -Net profit up 10.19% from Rs 2259.7 cr to Rs 2490 cr -NII Up 2.80% from Rs 5455.4 cr to Rs 5608 cr-Other income at Rs 3525 cr vs Rs 2343.15 cr -Provisions up 66.39% from Rs 610.61 cr to Rs 1016 cr -NPAs up 50% to Rs 9927.29 cr

Rel Comm Q2 (QoQ): -Net Profit Down 54.78% from Rs 1637 cr to Rs 740 cr -Note: includes MTM losses of Rs 283 cr -Revenues Down 7.19% from Rs 6145 cr to Rs 5703 cr -Operating profit Down 17.63% to Rs 2458 cr from Rs 2020 cr -OPMs at 35.4% vs 39.9% -Wireless margins at 32.7% vs 38.6%; Global margins at 23.1% vs 24%

Reliance Infra Q2: -Revenues at Rs 2571.9 cr vs Rs 2434.8 cr -OPM at 9.1% vs 9.8% -Net profit at Rs 306.9 cr vs Rs 289 cr

Suzlon Q2: -Revenues at Rs 4793 cr vs Rs 6920 cr -Total income from operations at Rs 4835 cr vs Rs 6979 cr -EBIDTA at 79.36 cr vs Rs 618.39 cr-Total exceptional expenses at Rs 20.26 cr vs Rs 277.80 cr -Interest expenses at Rs 292.60 cr vs Rs 215.98 cr -Net loss at Rs 355 cr vs Rs 22.84 cr

Hindalco Q2: -Net Sales down 13% at Rs 4892 Cr vs Rs 5637 Cr -Operating Profit at Rs 584 Cr vs Rs 947 Cr-OPM 12% vs 17%, QOQ margins were 15% -Net Profit down 52% at Rs 499 Cr vs Rs 720 Cr

Jindal Steel Q2: -Net sales down 28% at Rs 1597 Cr vs Rs 2216 Cr-Operating profit at Rs 550 Cr vs Rs 744 Cr -OPM at 34% vs 34% -Net Profit down 32% at Rs 305 Cr vs Rs 450 Cr.

HUL Q2 YoY -Net Sales up 4.97% at Rs 4228.1cr Vs Rs 4027.9cr -OPM up 262 bps at 14.45% Vs 11.83% -APAT up 14.4% at Rs 505.8cr Vs Rs 442.1cr

Godrej Ind Q2 Cons YoY -Total Income down 7.6% at Rs 896.1cr Vs Rs 965.2cr -OPM up 209 bps at 9.06% Vs 6.98% -Net Profit up 244% at Rs 66.7cr Vs Rs 19.4cr

MTNL Q2 (QoQ) -Revenues: Up 1.74% from Rs 955.47cr to Rs 972.05 cr -EBIDTA at 6.55% vs -2.17% -Net profit of Rs 20.58 cr vs Net loss of Rs 46.84 cr

Unitech Q2 (QoQ) -Net Profit Up 12.73% from Rs 157.77 cr to Rs 177.86 cr Revenues Down 5.64% from Rs 539.96 cr to Rs 509.4 cr EBIDTA margins at 56.22% vs 63%

Omaxe Q2 (QoQ): -Revenues at Rs 223.92 cr vs Rs 118.91 cr -Net Profit at Rs 22.51 cr vs Rs 14.97 cr -OPM at 35% vs 36.77%

Ackruti City Q2 (QoQ): -Revenues: Rs 79.23 cr vs Rs 40.9 cr -EBIDTA: Rs 62.43 cr vs Rs 48 cr Net Profit: Rs 29.79 cr vs Rs 10.2 cr

Nagarjuna Cons Q2: Net sales up 2% at Rs.1066.55cr vs Rs.1045.93cr -OPM at 10.20% vs 10.4% -Net profit up 4% at Rs.43.92cr vs Rs.42.30cr

IRB Infra Q2: -Net Sales up 77% at Rs.355.89cr vs Rs.201.61cr -OPM at 49% vs 48.8% -PAT up 72% at Rs.70.81cr vs Rs.41.2cr

Patni Q3 CY09 -Revenues up 3.3% at $167.2 m vs guidance of $163-165 m -EBIDTA margins at 19.3% vs 18.8% -Net profit at $35.67 m vs $28.65 m

Videocon Q4 (Sep Ending) -Sales flat at Rs 2621.2cr Vs Rs 2626cr -OPM down 180 bps at 19% Vs 20.8% -Net Profit down 15% at Rs 149.3cr Vs Rs 175.5cr

S Kumars Q2 (cons) Net sales at Rs 951.4 cr vs Rs 560.5 cr Net profit at Rs 58.4 cr vs Rs 57.7 cr OPM at 18.1% vs 20%

Amtek Auto Q1 -Net sales dn 15.2% at Rs 267.4 cr vs Rs 315.5 cr -Net profit dn 36.5% at Rs 30.5 cr vs Rs 48.06 cr -OPM at 25.3% vs 25.8%

RCF Q2 YoY Revenue down 31% to Rs 1791.95 cr vs Rs 2614.22 cr -OPM at 5.6% vs 6% -PAT at Rs 56.12 cr vs Rs 84.37 cr

Nirma Q2 -Net sales at Rs 750 cr vs Rs 711.3 cr -Net profit at Rs 79.3 cr vs Rs 1.71 cr -OPM at 23.5% vs 18% -Exceptional loss at 4 cr vs loss of 46.5 cr (notional loss on revaluation and asset impairment)

Simplex Q2 (cons): -Net sales at Rs 93.45 cr vs Rs 72.94 cr -Net profit at Rs 6.4 cr vs Rs 4.27 cr -OPM at 12.2% vs 11%

Tulip Telecom Q2: -Net sales at Rs 491 cr vs Rs 378.5 cr -Net profit at Rs 52.06 cr vs Rs 49.2 cr -OPM at 25.9% vs 21.1%

Godawari Power Q2 -Net sales dn 54% at Rs 153.1 cr vs Rs 331.6 cr -Net profit at Rs 2.5 cr vs Rs 31.8 cr -OPM at 11.4% vs 15.8%

GHCL Q2 -Net sales at Rs 290.3 cr vs Rs 336 cr -Net profit at Rs 20 cr vs Rs 26.1 cr -OPM at 17.6% vs 19.1%

Fame India Q2: -Revenue up 12% to Rs 37.05 cr vs Rs 32.95 cr -OPM at 13.6% vs 19.8% -Net loss of approximately Rs 90 lakhs vs Profit of Rs 2.82 cr ((Bottomline figures not clearly given))


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