Tuesday, January 19, 2010

BOR: Market Outlook: Indian markets may have flat to positive opening today & likely to be rangebound on due to lack of positive triggers.

Market Outlook: Indian markets may have flat to positive opening today & likely to be rangebound on due to lack of positive triggers. However, stock-specific action is expected to continue as India Inc declares earnings for the last quarter.. Nifty has support at 5180-5230 and resistances are at 5310-5340. The short-term trend still remains positive unless Nifty breaks and closes below 5,230 in the near term

Results today: Tata Power, MRPL, Mind Tree, Sonata Software, Subex, Aditya Birla Money, ENIL, BASF, Elder Pharma, JK Lakshmi Cem, Religare, Shree Ashtavinayak, SRF, Tata Elxsi, Jay Bharat Textiles
Global events to watch for today:

• Treasury International Capital
• State Street Investor Confidence Index
• 4-Week Bill Announcement
• 3-6 Month Bill Auction
• Housing Market Index

Global indices Update @ 8:

Dow Jones : 10609 (+00.00)
Nasdaq : 2316 (+00.00)
Nikkei 225 : 10841 (- 13.41)
Hang seng : 21493 (+33.76)
SGX CNX Nifty : 5271 (+01.50)
INR / 1 USD : 45.66

On the global counter: US market remained closed on the eve of Martin Luther King Jr. Day Asia trading mixed; Shanghai Composite up, Nikkei flat.
Stocks in action for the day: Shree Renuka, Karuturi, DLF, L&T, Tata Tea
Jubilant Food IPO (day 1) QIB at 0.35 times, NII at 0.0006 times, Retail at 0.0269 times
Sesa Goa consolidated Q3 – numbers above street estimates (Nos not strictly comparable due to the Dempo acquisition) -Net Sales: Rs 1889.1 crore versus Rs 1360 crore (up 39%) -OPMs at 55% versus 41% (estimated 48%) -Operating profit at Rs 1036 crore versus Rs 560 crore (up 85%) -Net profit at Rs 827 crore versus Rs 471 crore (up 76%) -Other Income: Rs 132 crore versus Rs 61 crore
Zee Entertainment (Q3FY10 YoY) -Revenue down 3% to Rs 530.93 crore versus Rs 545.58 crore -OPM at 29.6% versus 22% -PAT at Rs 146.43 crore versus Rs 83.97 crore -Board approves acquisition of 45% additional stake in Ten Sports in an all cash deal
Essar Group: -Essar Group lines up Rs 15,000 crore of acqisition & investment Essar Group -To use proceeds for coal,~steel, telecom, refining buys -To acquire Shell's refining assets for up to USD 975 million -To acquire 78.44% stake in South African coal mining company for up to USD 150 million -To acquire 100% in Indonesian company -To buy Indonesia Coal Company for USD 110-120 million, excluding USD 40 million capex
Dalmia Cement Says: Close to raising USD 100-200 million; looking at 10-15% dilution Gautam Dalmia Says-No IPO for Dalmia Venture for next 12-18 months -Looking at acquisitions in South for sugar business -IPO a possibility for power business
SpiceJet plans to raise $75 mn: Delhi-based SpiceJet plans to raise up to $75 million from the market to fund its fleet and route expansion programme. The company will invite proposals from aircraft manufacturers by March before formally placing orders for jetliners. The low-cost airline expects to register profit for the full financial year during 2009-10, first time since it started commercial operations.
Sakthi Sugars allots more shares to 2 FIIs: Sakthi Sugars has allotted 11,10,436 equity shares to two institutional investors following the conversion of foreign currency convertible bonds (FCCBs) worth $4.7 million held by them. While Deutsche Bank London converted $3.7 million into 8,74,173 equity shares, Apollo Asia Opportunity Alpha (Mauritius) converted $1 million into 2,36,263 equity shares under the B series at conversion price of Rs 190 per share.
Tata Motors, M&M hike prices: Tata Motors has raised the price ranging from Rs 5,000-8,000 on Indica and Indigo models. Utility vehicle maker Mahindra and Mahindra has also raised the prices of its Sport Utility Vehicle Scorpio between Rs 6,400 and Rs 9,300. While its Utility Vehicle Xylo has become costlier by Rs 4,600, Bolero sees Rs 4,800 hike. Primary reason for hike, which is across all is the rise in prices of the inputs required to make vehicles. The price rise on Tata Motors and Mahindra and Mahindra automobiles will be applicable on new 2010 models.
IBA CEO says Teaser Home Loans -Have not received any communication from RBI -Will not dictate terms & conditions to banks
Oberoi DRHP: -Company to raise Rs 1500 crore through issue of 39.5 crore shares; company to dilute 12% stake -Company to consider a pre-IPO placement
Navin Fluorine -Net profit at Rs 21.2 crore versus Rs 3.6 crore Net sales at Rs 96.8 crore versus Rs 87.5 crore
Rane (Madras) Ltd -Revenue Rs 109 crore versus Rs 81.45 crore -PAT at Rs 3.7 crore versus loss of Rs 4.18 crore
Renuka board meeting on January 25 to consider bonus issue
IFCI still in NSE F&O curb
Bharti remains on the lookout for Africa opportunity: Rajan Mittal
Board meets today: Karuturi Global on fund raising
DLF IPL 3 auction of players today
Unitech drops plans to raise USD 700 million via FCCB issue
L&T plans to raise Rs 20,000 crroe for power business, also considering acquiring coal mines in Australia and Indonesia
Tata Tea ups stake in Mount Everest Mineral Water to 50%, likely to merge with itself


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