Monday, April 12, 2010

BOR: Market Outlook: Expect a positive start on Indian bourses following advances across global equities.

Market Outlook: Expect a positive start on Indian bourses following advances across global equities. Shares of Reliance Industries may remain in focus after the company’s acquisition of 40 per cent stake in US-based Atlas Energy & RIL makes 4 new gas discoveries at KG D6: Sources.

Results today : Gati , Nitin Fire , Rana Sugars ,Steel Strips Wheels , Geojit BNP Paribas

Global Events to watch for today

  • 4-Week Bill Announcement
  • 3-Month Bill Auction
  • 6-Month Bill Auction
  • Treasury Budget

Global indices Update @ 8:

Dow Jones : 10997 (+70.27)

NASDAQ : 2454 (+17.24)

Nikkei 225 : 11314 (+110.0)

Hang seng : 22327 (+119.1)

SGX CNX Nifty : 5388 (+21.00)

INR / 1 USD : 44.35

Stocks in action for the day : RIL, Bharti Airtel, Tata Tea, NTPC

Intrasoft Technologies to list today.

RIL`s Atlas stake buy is a high-cost but low-risk play The successful signing of joint venture deal with US-based Atlas Energy marks a major positive development for Reliance Industries after earlier attempts to acquire LyondellBasell in Europe and Value Creation in Canada failed. However, considering the deal size, the potential for similar joint ventures is high. The Atlas Energy deal envisages RIL paying upfront USD 339 million for its 40% stake, followed by USD 1.36 billion out of Atlas` share of exploration expenditure over a period of seven-and-a-half years. In addition, towards its own share of exploration expenditure, the firm will shell out USD 3.4 billion over ten years.

Bharti to work with Ericsson, Nokia Siemens on 3G network Bharti Airtel will work with its existing equipment suppliers when it builds its 3G mobile network following a long-delayed auction, a top executive said. Rajan Bharti Mittal, a director on the company`s board, also said he saw no regulatory obstacles to Bharti Airtel`s pending USD 9 billion purchase of the African assets of Kuwait`s Zain, which would make Bharti one of world`s top five mobile companies by subscribers.

Tata Tea-PepsiCo JV may look at low-cost beverages The proposed Tata Tea-PepsiCo joint venture for non-carbonated, health and wellness beverages is believed to be exploring the low-cost, bottom-of-pyramid segment of beverages. Two officials close to the development told ET that the JV is considering leveraging the Tata brand and expertise in low-cost consumer products and coupling it with PepsiCo`s distribution muscle, go-to-market expertise and R&D strength in beverages.

Infosys likely to post higher net despite currency swings Information technology bellwether, Infosys, will most likely weather the impact of adverse cross currency movements in the March 2010 quarter and is expected to report a higher sequential growth in revenue and net profit compared with the previous quarter. The country`s second-biggest IT exporter will declare its fourth quarter results on Tuesday. According to an average of analyst estimates, Infosys is expected to report Rs 59,287 million in revenue.

NTPC buying gas at higher rate may push up tariffs Power consumers in the country could see higher tariffs, as NTPC - India`s largest power company - is planning to purchase additional natural gas from Qatar at higher rates. State-owned NTPC, which has gas purchase, contracts with Reliance Industries and other domestic natural gas suppliers, needs more gas to feed its expansion programmes and for new plants, chairman RS Sharma told ET. ``We are looking at Qatar and other gas-rich regions for securing (gas) the supplies for our projects.

EIL to set up city gas distribution biz State-owned design & engineering consultancy firm Engineers India (EIL) plans to set up a city gas distribution business under a joint venture or independently. This will be EIL`s first independent business, EIL chairman & managing director AK Purwaha told ET. City gas distribution business refers to supply of piped natural gas to households and automobiles.

SpiceJet stakeholders reject ADAG offer Say price offered for 51% stake too low; Maran may try again. Key shareholders of low-cost airline SpiceJet have rejected an offer by the Reliance ADA Group to pick up a 51% stake in the airline for Rs 40-45 per share. The offer was made last week. The company`s share price was Rs 63 at the close of trading on Friday at the Bombay Stock Exchange. The price offered by Reliance is, thus, about a third lower than the prevailing market price at which the company`s shares closed at the Bombay Stock Exchange on Friday. Senior executives in the know of the ADAG offer said the key shareholders wanted Rs 60-70 per share. ADAG had approached both W L Ross India (a private equity investor) as well as the Kansagara family to buy out their stakes.

R-Infra interested in bids for regional airports Reliance Infrastructure (R-Infra) says it expects the governments in Andhra Pradesh and Gujarat to invite bids to develop regional airports, which it is interested in taking up. Reliance already operates five airports in Maharashtra, at Nanded, Yavatmal, Osmanabad, Latur and Baramati on a 99-year lease. ``We are looking at various regional airports in Andhra Pradesh and Gujarat, which will be up for bid soon. We are also looking at other regional airports across the country,`` said a senior executive of R-Infra, who did not want to be identified. In late 2008, the Andhra government had invited bids to develop eight regional airports in Tier-IV cities. As many as 37 companies, including R-Infra, expressed interest, but the economic downturn hit soon after.

Videocon eyes Philips` consumer products business in India Diversified conglomerate Videocon Industries is understood to be making moves to acquire the consumer electronics business of Philips India. ``The company is looking at acquiring consumer products vertical of Philips India. The due diligence has just started,`` a source in the know of the development said. This, however, does not include the lighting and healthcare products businesses of Philips India, the source said.

BHEL has no plans to renew Electravan production Contrary to the global efforts of making electricity-run, eco-friendly vehicles, Bharat Heavy Electricals (BHEL), which once made India`s first battery operated bus `Electravan` in Bhopal, has no plans to renew its manufacturing as it is a cumbersome exercise. Earlier, in 2003, the company had planned to set up a subsidiary that year. The Navaratna company had sold approximately 300 Electravans including 10 buses in July 2002 to the Indian Institute of Technology Chennai.

Supreme Industries : Q3'FY10 -Sales at Rs 509 crore versus Rs 442.15 crore (Up 15% YoY) -PAT at Rs 37.05 crore versus Rs 28.55 crore (up 29% YoY)

Goa Carbon : Q4'FY10 Numbers -Sales at Rs 49.5 crore versus Rs 29.7 crore (up 65% YoY) -PAT at Rs 1.63 crore versus loss of Rs 7.04 crore (YoY)

Lancor Holdings Q4'Fy10 -Sales at Rs 52.04 crore versus Rs 16 crore (YoY) -PAT at Rs 10.24 crore versus Rs 2.58 crore (YoY)

GMR Infra: raises Rs 1400 crore via mix of debt and equity (Rs 500 crore via NCD in GMR Infra , Temasek to invest USD 200 million in GMR Energy)

DB Corp : Board approves to demerger of its FM Radio business and merge Bhaskar Publication and Allied with itself

Unitech : Schedules board meet on April 20 to consider restructuring committee's proposal

Balaji Tele: Court has dismissed RNA Builders petition (filed in June 2009) for 25,000 sq ft Property development

Sun Pharma : Receives tentative approval from USFDA for generic Namenda tablets

ACC : Commissions a 2.5 MW wind energy farm in satara, Maharastra

Fertilizer companies hike DAP prices by Rs 300-350/bag

Exxon eyes tie-up with ONGC to study eastern offshore assets

HSBC Investdirect delisting offer at floor price of Rs 124/sh (CMP Rs 282)


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