Wednesday, August 11, 2010

Market Outlook: Indian markets are expected to open flat

Market Outlook: Indian markets are expected to open flat and likely to see range-bound trading session this week. Overall outlook for the markets today is that of caution as the bulls must hold the above the 5475 levels sustain ably to manage a fresh upmove. The crucial support on the downside for the Nifty is 5450 and resistance at 5490-5510.

Results today: Bharti Airtel, Bajaj Hindusthan, Videocon Industries, Parsvnath, Bharati Shipyard, Bosch, Everonn, Financial Tech, Man Aluminium, Marg, Sundram Fast

Global events to watch:

Þ Bank Reserve Settlement

Þ MBA Purchase Applications

Þ International Trade

Þ EIA Petroleum Status Report

Global indices Update @ 8:

Dow Jones : 10644 (- 54.50)

NASDAQ : 2277 (- 28.52)

Nikkei 225 : 9333 (- 217.9)

Hang seng : 21620 (+146.4)

SGX CNX Nifty : 5457 (- 05.00)

INR / 1 USD : 46.30

Stocks in action for the day: Financial Tech, Hindalco, RCF, Jai Corp, ONGC, SCI, Bharti

Bombay HC Says -SEBI to take decision on equity trading on MCX-SX by September 30 -SEBI to take decision on licence renewal in 6 weeks -SEBI to expedite process as MCX-SX suffering losses -MCX-SX to issue board resolution on not exceeding 5% limit

RBI likely to release new bank license paper on July 11: The Reserve Bank of India (RBI) was expected to release the discussion paper on new bank licenses on July 31. However, RBI Governor Subbarao indicated that it will be announced sometime in August. The discussion paper is likely to be released on 11 August,

Mahindra, Ruia submit bids for Ssangyong Motors: Three groups including Mahindra & Mahindra Ltd have made binding offers to buy troubled South Korean car maker Ssangyong Motor Co Ltd, a news agency reported on Tuesday. But Renault-Nissan had not submitted a bid for the cash-strapped sport utility vehicle (SUV) maker,

Ramsarup gains 5% on MNC stake buy buzz Shares of Kolkata-based Ramsarup Industries rose 5% to Rs 116, as talks of a multinational steel group picking up a stake in the company have resurfaced. The stock has gained about 15% in the past one week. According to the market buzz, the multinational may invest Rs 1,000 crore in the company in a phased manner. The investment could be partly through convertible debenture at a low coupon. The proposal is expected to be passed at the company’s board meeting on Friday. A senior company official declined to comment on the matter.

ONGC says: Govt likely to raise more than Rs 13,000 crore from 5% stake sale

Asian Hotel (East) to list today

DoCoMo to invest USD 1 billion in Tata Teleservices, expected to get 10-15% more in the company (Tata Teleservices is unlisted)

Canadian firm offer to buy out GMR’s stake in Intergen for USD 1 billion – BS (GMR had bought the stake for USD 1.1 billion)

Board Meet - SCI board meet today on FPO

HCC bags contract worth Rs 121.2 crore

Vadilal Ind board approves fund raising up to Rs 80 crore via equity linked instruments

Rohit Ferro-Tech started commercial production of the company's new 100% EOU at Haldia

Novelis Q1FY11 -Net Sales at USD 2.5 billion versus USD 2.4 billion (up 5% QoQ) -Adjusted EBITDA at USD 263 million versus USD 233 million (up 13% QoQ) -EBITDA at USD 235 million versus USD 168 million (up 40% QoQ)-PAT at USD 50 million versus loss of USD 1 million

Ex-Dates -D-Link - Ex-Dividend @ Rs 1/share -Honda Siel Power : Ex-Dividend @ Rs 4/share -Rainbow Papers : Ex-Split 5:1 -Zenith Birla : Bonus @ 1:5

Piramal Healthcare Q1 (cr - crore, vs - versus) -Cons net profit at Rs 80.7 cr Vs Rs 85 cr -Cons net sales at Rs 842 cr

Suashish Q1 (Standalone) -Sales at Rs 252.2 cr vs Rs 236 cr (YoY) -PAT at Rs 16.8 cr vs Rs 18.6 cr (YoY)

Vadilal Ind Q1 -Sales at Rs 90.9 cr vs Rs 71.7 cr (YoY) -PAT at Rs 8.25 cr vs Rs 7.9 cr (YoY)

RCF Q1 -Sales at Rs 791 cr vs Rs 843 cr (YoY) PAT at Rs 19.7 cr vs Rs 31.55 cr (YoY)

Jindal Worldwide Q1 -Sales at Rs 76 cr vs Rs 61.6 cr ((YoY)) -PAT at Rs 4 cr vs Rs 3.9 cr ((YoY))

Rohit Ferro Q1 -Sales at Rs 280.8 cr vs Rs 174 cr ((YoY)) -PAT at Rs 11.8 cr vs Rs 5.22 cr ((YoY))

KRBL Q1 -Sales at Rs 31.2 cr vs Rs 40.1 cr ((YoY)) -PAT at Rs 23.4 cr vs Rs 30.5 cr ((YoY))

Amtek India Q1 -Sales at Rs 280 cr vs Rs 202 cr ((YoY)) -PAT at Rs 18.4 cr vs Rs 14.5 cr ((YoY))

Jai Corp Q1 -Sales at Rs 109 cr vs Rs 105 cr ((YoY)) -PAT at Rs 26 cr vs Rs 9.13 cr ((YoY))

IVRCL Assets Q1 -Sales at Rs 101 cr and Loss at Rs 4.99 cr (Number not comparable due to demerger)

Educomp Q1 -Cons net profit at Rs 36.5 cr Vs Rs 34.2 cr (YoY) -Cons net sales at Rs 227.9 cr Vs Rs 193.8 cr (YoY)

Prime Focus Q1 consolidated -Sales at Rs 154 cr, PAT at Rs 27.2 cr (No consolidated comparable available for Q1'FY10)


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