Thursday, May 13, 2010

BOR: Market Outlook: Indian markets will have positive opening today on the back of global recover.

Market Outlook: Indian markets will have positive opening today on the back of global recover. The Nifty has support at 5050 and resistance at 5200-5250.

Results Today - Crompton Greaves, Educomp Solutions, Gammon India, MTNL, Morepen Lab, Koutons Retail, Kewal Kiran, Tata Coffee, Amrutanjan Health

Global Events to watch for today:

  • Jobless Claims.
  • Import and Export Prices.

Global indices Update @ 8:

Dow Jones : 10896 (+148.5)

NASDAQ : 2425 (+49.71)

Nikkei 225 : 10549 (+155.3)

Hang seng : 20364 (+151.7)

SGX CNX Nifty : 5183 (+33.00)

INR / 1 USD : 45.33

Stocks in action for the day : Kingfisher, Thermax, R Power, Tilaknagar

Kingfisher Airlines – Sources: -Kingfisher Airlines undertakes realignment & restructuring of debt -SBI Caps given mandate to prepare restructuring package -Total debt under restructuring spread across 15 banks -SBI has Rs 1,100 crore exposure to KFA -Wants to defer repayment of loans falling due this fiscal -Looking at options like hiking tenure of capex loans -Will go for GDR issue after realignment of debt -SBI Caps expected to submit report in approximately 1 month -Looking at realigning debt of Rs 1500 crore -Not seeking any concessions from banks

HCC - Sources -HCC likely to demerge internal technology operations into separate IT arm -IT arm likely to deal with ERP solutions for infrastructure sector -Internal technology operations contribute to 2% of overall revenues -Announcement likely today

Tilaknagar - VCCircle exclusive: -Tilaknagar to buy Liquors India Distillery -Tilaknagar may also tap market to raise Rs.100 crore -Tilaknagar exploring PE/VC and MF route for fund raising -VCCircle alert: Tilaknagar is makers of Mansion House Brandy

Nitesh Estates lists today

Mercator Lines : acquired a vessel for approximately Rs 175 crore ,Vessel to bring revenues of Rs 120 crore over next 3 years (( Acquired via Singapore subsidiary ))

Magma Finance: Approves allotment of 40.6 lakh shares to QIBs

Elecon Engineering: bags an order worth Rs 208.5 crore

GoodYear India delisting floor price at Rs 245/sh, offer opens on May 28 and closes on June 3

Godrej to buy out Sara Lee for USD 234 million – ET

Kotak in talks to acquire CitiFinancial – Mint

Reliance Power considering shifting to AP from Dadri following the SC ruling – ET (Anil Ambani meets PM to present case)

Ranbaxy to sell stake in Ex-group cos, including its 14% stake in Orchid Chem – ET

SEBI challenges SAT order on takeover code – PTI

Mahindra Forgings Q4: (cr - crore, vs - versus) -Net loss at Rs 34 lakh vs Rs 20.7 cr (YoY) -Net sales at Rs 83.5 cr vs Rs 59.9 cr (YoY)

Thermax Q4: -Net loss at Rs 15.7 cr vs net profit of Rs 94.3 cr (YoY) -Net sales at Rs 1,171 cr vs Rs 924 cr (YoY)

MRPL Q4: -Net profit at Rs 253 cr vs Rs 608 cr (YoY) -Net sales at Rs 8,700 cr vs Rs 6,535 cr (YoY)

Bajaj Holdings & Invst Q4: -Cons net sales at Rs 69.7 cr vs Rs 37.1 cr (YoY) -Cons net profit at Rs 384.2 cr vs Rs 86.2 cr (YoY)

Rohit Ferro Tech Q4 -Sales at Rs 207.66 cr vs Rs 166.29 cr -PAT at Rs 14.24 cr vs loss of Rs 86 lakh


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