Monday, November 16, 2009

BOR: Market Outlook: Indian markets may have flat to positive opening today on the back of positive sentiment rolling over Asian markerts.

Market Outlook: Indian markets may have flat to positive opening today on the back of positive sentiment rolling over Asian markerts. Nifty has supports at 4900-4930 and resistances are at 5100-5130. This week ahead market is likely to be rangebound and volatile, as the near-term trend is not clear we expect a selling pressure near the 5000 mark.

Global events to watch for today:

· Retail Sales

· Empire State Mfg Survey

· Business Inventories data

· 3 & 4- & 6 Week Bill AnnouncementImport and Export Prices

Global indices Update @ 9:

Dow Jones : 10270 (+73.00)

Nasdaq : 2167 (+18.86)

Nikkei 225 : 9782 (+12.38)

Hang seng : 22880 (+326.8)

SGX CNX Nifty : 5043.5 (+43)

INR / 1 USD : 46.50

On the global counter: Asia trading higher; Hang Seng, Shanghai Composite up.

Stocks in action for the day: Aban, PVR, NTPC, SAIL, Sun TV, GVK Power

Aban Offshore QIP: : -To raise $100 million with upsize of $50 million: -QIP floor price around Rs 1,225/share: -Post issue equity dilution of 10-15%: -Citi sole banker for QIP:

UltraTech-Samruddhi merger:: Exchange ratio set at 4:7 ((Samruddhi shareholders to get 4 UltraTech shares of for every 7 Samruddhi shares held)) -UltraTech to issue 14.95 crore new shares, equity capital to be hiked to 274.2 crore -Appointed date of merger is July 1, 2010

Asarco : -Grupo Mexico gets final nod from Texas Judge to regain control of Asarco -Grupo Mexico to pay $2.2 billion to Asarco's creditors ((Sterlite ADS up 5%, Vedanta down 2%))

Shoppers Stop board approves: -Issue of 40 lakh shares via QIP ((pricing not given)) -Issue of 40 lakh convertible warrants to promoters

PVR: Okays issue of 2.6 million shares on preferential basis at Rs 165/share -Preferential issue of shares to Thailand's major Cineplex Group -Acquires DLF Group's DT Cinemas -To Fund DT Cinemas buy via part stock, part cash -To give 2.6 million shares, Rs 20 crore for DT Cinemas Theatre operations

BPCL says Oman Oil to increase stake in BORL from 2% to 26%: -Alert: BORL is a JV between BPCL & Oman Oil -Alert: BORL is building 6 mmtpa refinery in MP -Alert: BPCL’s stake in BORL at 49%-Oman Oil to pump in approximately Rs 1,220 crore into project -Oman Oil already invested Rs 75 crore in project: BPCL

KSK Energy: -Fixes QIP issue price at Rs 194.5/sh ((CMP Rs 205)) -To issue 26.5 m shares, raise Rs 516 cr

Harish Salve says will drop 7 affidavits of RIL's directors if RNRL changes SLP

DCB QIP priced at Rs 34.14/share, to raise Rs 81 crore ((board had earlier approved QIP up to Rs 100 crore))

Sun TV says not in talks to acquire stake in Star Aviation

NTPC Chairman says expect DRHP to be filed by December; expect FPO to hit markets in February

Gas price hike may force NTPC to raise tariff by 5% ((24% gas based generation and gets 63% gas under APM))

Steel Secretary Says: Cabinet to take up NMDC, SAIL divestment proposal by December

GVK Power to buy Bidvest’s MIAL 13.5% stake soon, stake would rise to 50.5%

Telenor CEO says no plans to hike stake in Unitech Wireless for now

Jet Airways pilots union NAG deregistered by Labour Commission

UP sugar mills declare bonus for cane growers, decide on Rs 15 incentive over SAP: BS

Vinay Cements reverse book building offer price Rs 45 ((CMP Rs 43))

HDFC to buy 41% stake in Credila Financial Services from DSP Merrill Lynch

Glenmark gets US FDA approval for Ciclopirox Olamine cream

Board meets: Asian Tea on fund raising


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