Monday, August 2, 2010

Market Outlook: Indian markets are expected to open with a gap-up

Market Outlook: Indian markets are expected to open with a gap-up on the back of surprise recovery seen on the global counters. The crucial support for the Nifty is 5330 and strong resistance at 5480.

Results today: GAIL India, Glaxosmithkline Consumer, Gokaldas Exports, Gulf Oil Corp, India Cements, Madras Cements, Nestle India, Zenith Birla

Global events to watch:

Þ ISM Mfg Index

Þ Construction Spending

Þ Bill Auction

Global indices Update @ 8:

Dow Jones : 10465 (- 01.22)

NASDAQ : 2254 (+03.04)

Nikkei 225 : 9655 (+118.4)

Hang seng : 21281 (+252.0)

SGX CNX Nifty : 5409 (+38.00)

INR / 1 USD : 46.46

Stocks in action for the day: Tata Motors, Religare, ICICI Bk, BoI

Tata Motors sales up 41% at 67,799 units in July: Auto-maker Tata Motors on Sunday reported a 41% increase in vehicle sales to 67,799 units in July, 2010, compared to 48,054 units in the same month of the previous year. The company`s exports grew by 73% to 4,241 units in July, 2010, compared to 2,455 units in the same month last year During the month, the company sold 9,000 units of its small car, `Nano`. In the commercial vehicles segment, sales in July in the domestic market stood at 35,694 units, a 26% increase compared to sales of 28,408 units in the same month last year. Light commercial vehicles sales during the month stood at 20,438 units, a growth of 15% over the last year, while medium and heavy commercial vehicle sales stood at 15,256 units, a 43% jump compared to July, 2009.

ATF prices to go up by 2.7% from midnight: State-owned oil firms on Saturday raised jet fuel, or ATF, prices by 2.7% after lowering the rates at the last fortnightly revision on July 16. Aviation Turbine Fuel (ATF) rates in Delhi will go up by Rs 1,078 a kilolitre (kl), or 2.7%, to Rs 41,177a kl from midnight tonight, said an official of the Indian Oil Corporation, the nation`s largest fuel retailer. The increase follows a 3.3%, or Rs 1,390 per kl, hike in prices that oil firms had announced on July 16.

Emaar MGF to test IPO market a third time: Real estate company Emaar MGF will soon set off an initial public offering ( IPO) process for a third time in as many years, probably at a valuation one-fourths of what it hoped for in 2008. It’s preparing a prospectus with plans to sell 10% of the company for Rs 1,500 crore from the Rs 7,000 crore it aimed for in 2008, when the market began to melt forcing it to abandon roadshows.

Bajaj Corp IPO opens today: issue of 45 lakh shares at Rs 630-650/share

Auto sales numbers -Bajaj Auto: Total July sales up 65% at 3.18 lakh versus 1.92 lakh (YoY) -TVS Motor: Total July 2 wheeler sales up 35% at 1.63 lakh units

Deposit rates: -Union Bank ups deposit rates by 25-100 bps w.e.f. August 4 -PNB increases term deposit rates by up to 75 basis points -Bank of Baroda to up deposit rates by 25-50 bps from August 2

Indiabulls Real Estate wins NTC's Poddar Mill Auction for about Rs 474 cr (works out to around Rs 25,000/sq ft of saleable area)

Engineers India FPO overall subscribed 13.26 times (x); QIB 23,43x, retail 2.71x, HNI 5.85x

Kavveri Telecom - To issue of 40 lakh equity shares on prefrential basis to promoters

Maytas Infra : Alloted 1.54 crore shares to M/s. SBG Projects Investments Ltd @ Rs 195.3/share

Andhra Cements :Approved allotment of shares up to Rs 18.6 crore to HDFC & IDFC ((on conversion of Obligation))

Karnataka Bank: Approves rights issue ratio of 2:5

Religare : Approves funds raising upto Rs 2000 crore through issue of capital

ICICI Bank Q1 (cr - crore, vs - versus) -PAT Up 16.85% from Rs 878.22 crore to Rs 1026 crore (Estimates Rs 1027.7 crore) -NII Up 0.29% from Rs 1985.26 crore to Rs 1991 crore (Estimates Rs 2027.69 crore)

Torrent Power Q1: -Cons Net Sales At Rs 1,783.4 cr Vs Rs 1,704 cr (QoQ) -Cons Net Profit At Rs 299.2 cr Vs Rs 287.5 cr (QoQ)

Bank of India Q1 -PAT Up 24.09% from Rs 584.32 crore to Rs 725.13 crore (Estimates Rs 466.78 crore) -NII Up 33.82% from Rs 1300.6 crore to Rs 1740.47 crore (Estimates: Rs 1530.58 crore)

J&K Bank Q1 NII at Rs 365 cr vs Rs 261 cr (up 40% YoY) -PAT at Rs 145.4 cr vs Rs 118.1 cr (up 23% YoY)

City Union Bank Q1 -Net Profit At Rs 44.4 cr Vs Rs 31.5 cr (YoY) -NII At Rs 922 cr Vs Rs 562 cr

GVK Power Q1 -Cons Net Profit At Rs 33.4 cr Vs Rs 32.7 cr -Cons Net Sales At Rs 490 cr Vs Rs 332 cr

DB Corp Q1 -Rev up 14% to Rs 298.6 cr vs Rs 262.1 cr -OPM at 38% vs 35.7% -PAT up 35% to Rs 69.5 cr vs Rs 51.5 cr

Jagran Prakashan -Rev up 16.4% to Rs 269.8 cr vs Rs 231.8 cr -OPM at 33.4% versus 30.4% -PAT Rs 55.5 cr vs Rs 49.5 cr

IOB Q1 -Net Profit down 33.57% from Rs 301.77 cr to Rs 200.44 cr -NII up 17.93% from Rs 768.42 cr to Rs 906.26 cr

Gujarat Alkalies Q1 Net Sales At Rs 326.8 cr Vs Rs 328.6 cr (YoY) -Net Profit At Rs 19 Cr Vs Rs 37.9 cr (YoY)

BGR Energy Q1 -Net Sales At Rs 905.4 cr Vs Rs 311.1 cr (YoY) -Net Profit At Rs 60.5 cr Vs Rs 20.2 cr (YoY)

Karnataka Bank Q1 -NII At Rs 119.5 cr Vs Rs 46.5 cr (YoY) -Net Profit At Rs 46.5 cr Vs Rs 40.1 cr (YoY)

S Kumars Q1 -Cons Net Sales At Rs 1,174.9 cr Vs Rs 708.1 cr (YoY) -Cons Net Profit At Rs 62.7 cr Vs Rs 51.2 cr (YoY)

Reliance Infrastructure Q1 (( Standalone)) -Net Profit At Rs 246 cr Vs Rs 316.6 cr (YoY) ( Est Rs 303 crore) -Total Income at Rs 2228 cr vs Rs 2446 cr (YoY)

Reliance Power Q1 -Cons net sales at Rs 139.34 cr -Cons Net Profit At Rs 195.4 cr ((Not Comparable due to no operations))

Tata Chemical Q1 -Cons Net Sales At Rs 2,477.1 cr Vs Rs 2,248 cr (YoY) -Cons Net Profit At Rs 216 cr Vs Rs 42.5 cr (YoY)

Voltamp Q1 -Net Sales At Rs 119.3 cr Vs Rs 104.1 cr (YoY) -Net Profit At Rs 10.7 cr Vs Rs 14.8 cr (YoY)

Raymond Q1 -Net Sales At Rs 240.9 cr Vs Rs 234.8 cr (YoY) -Net Loss At Rs 24.9 cr Vs Loss Of Rs 31.6 cr (YoY)

INOX Q1 -Net Profit At Rs 3.5 cr Vs Loss Of Rs 4 cr -Net Sales At Rs 79.9 Cr Vs Rs 34.3 Cr

Bhushan Steel Q1 -Sales at Rs 1372 cr vs Rs 1304 cr ((YoY)) -PAT at Rs 205 cr vs Rs 171cr ((YoY))

Brandhouse Retails q1 -Net Sales at Rs 142.1cr vs Rs 12.5cr ((YoY)) -PAT at Rs 3.9cr vs Rs 3.7cr ((YoY))

Grasim Q1 -Sales at Rs 5119cr vs Rs 5134cr ((YoY)) -PAT at Rs 685cr vs Rs 744cr (down 8% YoY)

JK Cement Q1 -Sales at Rs 521cr vs Rs 428cr ((YoY)) -PAT at Rs 29.4cr vs Rs 70.3cr ((YoY)) -OPM at 17% vs 29% ((YoY))

Syndicate Bank Q1 -PAT at Rs 265cr vs Rs 261cr ((YoY)) -NII at Rs 964cr vs Rs 564 ((YoY))

Hinduja Global Solution Q1 -Rev at Rs 226cr vs Rs 221cr ((YoY)) -PAT at Rs 23.1cr vs Rs 36.1cr ((YoY)

Religare Q1 -Total Income at Rs 444.7cr vs Rs 312.7cr ((YoY)) -Loss at Rs 49cr vs PAT of Rs 13.4cr ((YoY))

Andhra Cement Q1 -Sales at Rs 40.7cr vs Rs 106.9cr ((YoY) -Loss of Rs 2.66cr vs PAT of Rs 17.1cr ((YoY))

Max India Q1 -Loss at Rs 2.8cr vs PAT of Rs 0.2cr ((YoY)) -Total Income at Rs 120cr vs Rs 84cr ((YoY))

Archies Q1 -Sales at Rs 34.5cr vs Rs 28.1cr ((YoY)) -PAT at Rs 1.4cr vs Rs 1.26cr ((YoY))

EIH Q1 -Sales at Rs 186cr vs Rs 152cr ((YoY))-loss of Rs 15.9cr vs PAT of Rs 19cr ((YoY))

MIC Electronics Q1 -Sales at Rs 74cr vs Rs 59cr ((YoY)) -PAT at Rs 18.3 cr vs Rs 11.4cr ((YoY))

BEL Q1 -Net Sales At Rs 913.4 cr Vs Rs 901 cr (YoY) -Net Profit At Rs 81.4 cr Vs Rs 72.7 cr (YoY)


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