Tuesday, December 15, 2009

BOR:Market Outlook: Indian market may have flat to negative opening today on account of mixed global cues.

Market Outlook: Indian market may have flat to negative opening today on account of mixed global cues. Nifty has supports at 5000-5050 and resistances are at 5160-5180. Cverall indicators advices a sell call on markets but structurally it is still on sideways market movement.

Global events to watch for today:

  • 3-10-30 Yr Note Settlement
  • FOMC Meeting Begins
  • ICSC-Goldman Store Sales
  • Producer Price Index
  • Empire State Mfg Survey
  • Industrial Production data
  • Housing Market Index

Global indices Update @ 9:

Dow Jones : 10501 (+29.55)

Nasdaq : 2212 (+21.79)

Nikkei 225 : 10087 (-18.50)

Hang seng : 21899 (-186.34)

SGX CNX Nifty : 5110 (+8.00)

INR / 1 USD : 46.66

On the global counter: Wall Street ends at 14-month high on Exxon Energy deal while Asia trading lower; Shanghai Composite, Hang Seng down. US stocks closed at a 14-month high as news of the Exxon Energy deal and a lifeline for Dubai helped buoy investors' appetite for risk. Exxon Mobil gave a boost to the energy sector with its plans to buy natural-gas developer XTO Energy in an all-stock deal valued at 31 billion dollars, but Exxon stock was the biggest drag on the Dow. Meanwhile XTO shares jumped 15%.The Dow rose 29.55 points, or 0.3%, to 10,501.05, highest close since October 1, 2008. The S&P 500 index added 7.70 points, or 0.7%, to 1,114.11, highest finish since October 2, 2008 and the Nasdaq composite index gained 21.79 points, or 1%, to 2,212.10.

Stocks in action for the day: DLF, Dhunseri Tea, GMR, RIL, Glenmark

DLF restructuring: DLF restructured into 4 verticals namely Annuity, Gurgaon, Super Metros & Rest Of India: Annuity Arm comprises leased assets like IT parks, offices, malls -DLF subsidiary Cyber City Developers to become the Annuity arm: Restructuring increases assets under Cyber City subsidiary: -DLF restructuring was precursor to integration with DAL (DLF Assets Ltd):: DLF promoters to receive upto 40% in DLF Cyber City
-Citi, Enam Bankers for DAL integration with DLF: Cyber City ltd to be integrated with DAL. -DLF board meet today to consider integration of Caraf Builders & Constructions Private (a promoter group company) with DLF Cyber City Developers (Wholly owned subsidiary of DLF) -DLF to sell wind energy business to French Major GAz de France for Rs 950 crore

Q3 Advance Tax numbers ((All YoY except where mentioned QoQ))
Tata Motors pays Rs 100 crore versus Nil (YoY)
M&M pays Rs 195 crore versus Rs 4.5 crore (YoY)
Tata Steel pays Rs 650 crore versus Rs 260 crore (YoY)
Hindalco pays Rs 100 crore versus Rs 40 crore
HUL pays Rs 200 crore versus Rs 155 crore:
L&T pays Rs 270 crore versus Rs 312 crore (YoY)
Grasim Q3 advance tax at Rs 150 crore versus Rs 75 crore:
UltraTech pays Rs 90 crore versus Rs 65 crore (YoY)
HDFC Q3 advance tax at Rs 320 crore versus Rs 280 crore:
Dena Bank pays Rs 65 crore versus Rs 60 crore (YoY)
IndusInd Bank pays Rs 65 crore versus Rs 22 crore (YoY)
Bank Of Baroda pays Rs 330 crore versus Rs 220 crore (YoY)
Bank Of India pays Rs 102 crore versus Rs 370 crore (YoY)
Central Bank pays Rs 138 crore versus Rs 163 crore (YoY)
Tata Power pays Rs 81 crore versus Rs 29 crore (YoY)
Tata Chem pays Rs 40 crore versus Rs 83 crore (YoY)
Indian Oil Q3 advance tax nil versus Rs 1,100 crore (QoQ)
BPCL Q3 advance tax at nil

Glenmark: Glenmark may settle with Merck on Cholestrol Drug -Merck may withdraw patent litigations against Glenmark -If case settled, Glenmark’s US revenue would get boost

DB corp IPO closes today Total: 2.45 times QIB : 4.46 times NII : 0.738 times Retail : 0.2 times

South Asian Petrochem board meet today to consider amalgamation of the company with Dhunseri Tea ((Both listed))

Dhunseri Tea board meet today for demerger of Jaipur Packet Factory and Investment Div of the Co and amalgamation of South Asian Petrochem and Dhunseri Polycarbonate

GMR to raise Rs 1,200 crore via stake sale in GMR Energy, in talks with Temasek.

Kingfisher still in NSE F&O curb

Sources indicate RIL yet to decide on the final bid for Lyondell-basel

JSW Energy sets issue price of Rs 100/share (Rs 5 discount to retail investors)

Golden Tobacco board meet on December 21 to consider development of properties

Bajaj Hindusthan Q4 numbers today

Godrej Consumer board meet today on fund raising

Infra firms may get MAT relief (Budget expectations)

Gemini Communication close to bagging BSNL’s Rs 1,000 crore Wimax deal

Redington board approves investment of $29 million into its wholly owned subsidiary


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