Tuesday, August 10, 2010

Market Outlook: Indian markets are expected to open flat a

Market Outlook: Indian markets are expected to open flat and likely to see range-bound trading session this week. Overall markets are still up and the next logical target is 5490-5510, crucial support to watch is 5425’.

Results today: Tata Motors, Educomp, Rolta India, Great Offshore, Hindustan Motors, Nagarjuna Construction, Piramal Healthcare, Asian Hotels, Prime Focus, Amtek Auto, IVRCL Infra, RCF, Jai Corp, KRBL.

Global events to watch:

Þ Productivity and Costs

Þ Wholesale Trade

Þ Goldman Store Sales

Global indices Update @ 8:

Dow Jones : 10698 (+45.19)

NASDAQ : 2305 (+17.22)

Nikkei 225 : 9622 (+50.40)

Hang seng : 21681 (- 120.5)

SGX CNX Nifty : 5477 (- 01.50)

INR / 1 USD : 46.07

Stocks in action for the day: DRL, Tulip Tele, GMR, Ranbaxy, Hindalco

PSUs out of 25% public float norm: The finance ministry has exempted state-owned firms from the recent rule that requires listed companies to achieve at least 25% public holding within three years after some of them said they will not participate in disinvestment if the rule was forced on them. Public sector firms will now have to maintain a minimum public float of only 10%, the finance ministry said in a notification on Monday.

Quippo to raise Rs 1.7k cr from tower co stake sale: Quippo Telecom Infrastructure is raising Rs 1,600-1,700 crore by selling stake in telecom tower company Wireless TT Info-Services or WTTIL, a person familiar with development told ET. Around 15-16% is being sold in the company for Rs 2,000 crore, but the additional Rs 300-400 crore is a secondary sale by one of the existing shareholders

I-banks woo investors into Jyothy Labs’ QIP issue Merchant bankers are said to have sounded off potential investors for the QIP of Jyothy Laboratories. The book will be open for bidding in a day or two, say dealers tracking the stock. In June, the company board had approved a proposal to raise up to Rs 300 crore through a QIP. The market buzz is that the company will be raising around Rs 250 crore. At Wednesday’s closing price of Rs 279, the company will have to dilute nearly 12% of its equity to raise that amount.

Areva T&D bags Rs 110-cr order from PGCIL: Areva T&D India said that it has been awarded a contract worth Rs 110-crore from Power Grid Corporation of India Ltd (PGCIL), India's main central transmission utility, to set up a 765 KV extra high voltage substation.

M&M may make $480-mn bid for Ssangyong: Mahindra & Mahindra (M&M) is likely to put in a bid of around $480 million for acquisition of the South Korean sports utility vehicle (SUV) maker Ssangyong Motor Company as part of its plan to establish itself as a global SUV company, say people familiar with the development. The M&M board on Saturday decided to participate in the bid which is expected to attract interest from the Renault-Nissan alliance, South Korea’s Renault Samsung and Kolkata-based Pawan Ruia. The last date for submission of the bid is Tuesday.

Novelis (Hindalco’s Subsidiary) to declare earnings today

GMR gets feelers to buy 50% stake in Intergen

Bhilwara Energy plans IPO to raise Rs 1000-1200 crore – ET

Lupin sues Ranbaxy in US for patent infringement

Camlin Fine Chem rights issue opens today

Coal India Files DHRP, may raise Rs 17700 crore via IPO, Coal India IPO Between October 18-21

Kalindi Rail board Meeting on August 12, 2010 to consider issuance of convertible warrants to promoter group

Tulip Telecom board has approved to raise upto Rs 1000 crore in 1 or more tranches

DRL:Darbepoetin has not been launched by Amgen in India

Home Ministry asks DoT to stop all 3G services unit system in place to enable full tapping of lines

Ex-Dates Edelweiss Capital : Ex-Bonus 1:1 & Ex Split 5:1 HCC : Ex-Bonus @ 1:1 Grasim : Ex-Dividend @ Rs 30/share Tata Motors : Ex-Dividend @ Rs 15/share Tata Motors DVR : Ex-Dividend @ Rs 15.5/share

Opto Circuits consolidated Q1 (cr - crore, vs - versus) -Sales at Rs 292 cr vs Rs 230.4 cr ((YoY)) -PAT at Rs 83 cr vs Rs 59.2 cr ((YoY))

Dwarikesh Sugar Q3 -Sales at Rs 144 cr vs Rs 154 cr ((YoY)) -PAT at Rs 7 cr vs Rs 14 cr ((YoY))

Punjab Chemical Q1 -Sales at Rs 80.4 cr vs Rs 85.5 cr ((YOY)) -Loss at Rs 15.5 cr vs Rs 3.45 cr ((YoY))

Andhra Sugars Q1 -Sales at Rs 103.4 cr vs Rs 147 cr ((YoY)) -PAT at Rs 5.1 cr vs Rs 12.8 cr ((YoY))

Sujana Tower Q1 -Sales at Rs 249.8 cr vs Rs 174.88 cr ((YoY)) -PAT at Rs 13.11 cr vs Rs 6.5 cr ((YoY))

HBL Power Systems Q1 -Sales at Rs 241.5 cr vs Rs 261 cr ((YoY)) -PAT at Rs 7.09 cr vs Rs 26 cr ((YoY))

Harrisons Malayalam Q1 -Sales at Rs 76. 5cr vs Rs 69 cr ((YoY)) -Loss at Rs 3.9 cr vs PAT at Rs 2.9 cr ((YoY))

LT Food Ltd Q1 -Sales at Rs 269 cr vs Rs 299.3 cr ((YoY)) -PAT at Rs 7.44 cr vs Rs 16.6 cr ((YoY))

Electrosteel Casting Q1 -Sales at Rs 359 cr vs Rs 372 cr ((YoY)) -PAT at Rs 30.08 cr vs Rs 58.1 cr ((YoY))

Dalmia Cements Q1 -Sales at Rs 565 cr vs Rs 548 cr ((YoY)) -Loss at Rs 19.09 cr vs PAT at Rs 58 cr ((YoY))


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