Thursday, August 12, 2010

Market Outlook: Indian markets are expected to open gap down

Market Outlook: Indian markets are expected to open gap down and likely to trade negatively biased. The crucial support on the downside for the Nifty is 5360 and resistance at 5430.

Results Today: SBI, Tata Steel, Tata Motors, Ranbaxy, Divis Labs, Shree Renuka, MTNL, Ansal Propperties, Apollo Hospital, Cummins India, Indraprastha Gas, Indo Rama Syn, Indiabulls Real Estate, HPCL, Hindustan Copper, Hathway Cable, Dishman Pharma, Moser Baer, PTC India, Talwalkar

Global events to watch:

Þ Jobless Claims

Þ Import and Export Prices

Global indices Update @ 8:

Dow Jones : 10378 (- 265.4)

NASDAQ : 2208 (- 68.54)

Nikkei 225 : 9105 (- 187.6)

Hang seng : 20945 (- 340.4)

SGX CNX Nifty : 5363 (- 42.00)

INR / 1 USD : 46.54

Stocks in action for the day: SCI, EIL, Orchid Chem, M&M, RIL, SBI

RIL- Sources -RIL treasury stake sales to resume -Tranche 4 likely soon; to be upwards of USD 1 billion Deal likely at slight discount to CMP -LIC likely to participate in tranche 4

M&M -Selected as preferred bidder to acquire controlling stake in Ssangyong Motors -Ruia group has been picked up as secondary preferred bidder -Ssangyong to wrap up sale proceeds by October this year

Board Meets -Essar Shipping: Restructuring -Greaves Cotton: Stock Split -Indowind Energy: FCCB -Kalindee Rail: Issue of Security

Aksh Optic Fibre -QIP to open on August 16 -Issue price fixed at Rs 19.20/sh

Ex-Dates -Adani Enterprise: Ex-Dividend @ Rs.1/shr Balaji Tele: Ex-Dividend @ 0.3/shr Globsyn Info: Ex-Reduction of Capital ((Reduction of Capital of by 50%)) Indo Gulf Inds : Ex-Scheme of Arrangement (( Reduction of Capital by 90% , approved by BIFR))

L&T’s Deosthalee to retire next year, may head L&T Finance – ET

Vishal Retail plumps for TPG over Future group, even the lenders seen favoring TPG – BS
Solrex Pharma, a firm owned by Singh brothers sells part of its stake in

Orchid Chem, sells 8.5 lakh shares @ Rs 196/sh

Prakash Industries in talks to buy Nova Iron and Steel – DNA (Nova is BSE listed, CMP Rs 18.7/sh)

Engineers India: 3.36 crore shares of FPO allotted to shareholders in DP ((Eligible for trading in 2 days))

Sterling Holiday: Board Meeting on August 18, 2010

SCI: Board approved FPO upto 20% ((Including fresh shares))

Punjab Alkalies: Approved constitution of Committee for opening & short-listing of EOI for disinvestment

Pioneer Embroideries: Allotment and issue of Preference shares amounting up to Rs 30 crore

Videocon Industries Q3 -Sales at Rs 2893 crore versus Rs 2461 crore (YoY) -PAT at Rs 153 crore versus Rs 124 crore (YoY)

Dunlop India Q1 -Sales at Rs 48 crore versus Rs 50.5 crore (YoY) -PAT at Rs 0.8 crore versus loss of Rs 0.28 crore (YoY)

Parsvnath Developers Q1FY11(QoQ) -Revenues: Rs 257.07 crore versus Rs 358.49 crore -Net Profit: Rs 31.82 crore versus Rs 34.72 crore

Sterling Holidays Q1 -Sales at Rs 10.1 crore versus Rs 9.07 crore (YoY) -Loss of Rs 1.8 crore versus PAT of Rs 0.54 crore (YoY)


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