Friday, November 19, 2010

Market Outlook: Indian markets are expected to open flat

Market Outlook: Indian markets are expected to open flat and trade in the range manner before taking fresh moves. Global counters are supportive to give constructive directions for domestic markets. Overall trend remains sideways with support in the vicinity of 5910 and resistance at 6150.

Results Today: Triveni Engineering

Global events to watch:

Þ Ben Bernanke Speaks

Global indices Update @ 8:

Dow Jones : 11181 (+173.3)

NASDAQ : 2514 (+38.39)

Nikkei 225 : 10075 (+60.92)

Hang seng : 23459 (-177.9)

SGX CNX Nifty : 6016 (-19.50)

INR / 1 USD : 45.45

Stocks in action for the day: Sical, Videocon, Unitech, SCI, Triveni Engg, ONGC, Nalco, JSW, BEL...

RPP Infra IPO (on day 1) -Total subscription at 0.48 times (X) -QIB at 0X, HNI at 1.46X, Retail at 0.8X Shipping Corp FPO to open November 30, close December 3

Exclusive - From Govt sources -TRAI calls for cancelling 69 new telecom licenses -TRAI writes to DoT; seeks action against telcos -TRAI reviews network rollout of 127 new licenses -150 MHz of GSM & CDMA spectrum to be freed up

TRAI says -Cancel 20 licenses of Loop Telecom -Cancel 15 licenses of Etisalat DB -Cancel 11 licenses of Sistema -Cancel 10 licenses of Videocon -Cancel 8 licenses of Uninor -Cancel 5 licenses of Aircel -Many new telcos failed to roll out -Levy fine, withdraw spectrum -122 of 127 new licenses must be fined-Problems in rollout by new telcos widespread From Govt sources -TRAI finds some new telcos overstating subscribers

Uninor says -Not received info from TRAI on telecom licenses -Therefore we cannot comment on this matter -However Uninor has launched services across India -We have 13.7 million customers -We are a real operator offering new alternatives to consumers Alert: Uninor on TRAI’s recco of canceling 8 of its licenses

Sistema Shyam says: -Complied with mobile services rollout rule -Rolled out mobile phone services in all 22 circles

Govt constitutes panel on infra financing -Panel to be headed by former RBI Dy Governor Rakesh Mohan -Panel to access investment needs in 10 infra sectors -Panel to identify financing needs in infra sectors CNBC-TV18 ALERT: Infra investments in 12th plan estimated at USD 1 trillion -Panel to recommend ways to use cap markets for infra finance -Panel to study role of foreign cap flows in infra financing -Panel to identify regulatory impediments to infra financing

Nalco, JSW, JP Ind plan to set up Rs 100 bn alumina project National Aluminium Company (Nalco), JSW Steel and Jaiprakash Industries have evinced interest in setting up an alumina refinery and aluminium smelter in Kutch. The 1 million ton per annum (TPA) alumina refinery project and 0.5 million TPA smelter project involves expenditure of Rs 100 billion. State PSU Gujarat Mineral Development Corporation GMDC) had invited Expression of Interest (EoI) earlier this month for joint development of the mines as a part of its recent policy of adding value to minerals before they are transported out of the state. The GMDC has huge reserves of plant grade and non-plant Bauxite at Gadhsisa in Kutch and Kalyanpur in Jamnagar (Saurashtra region).

Aditya Birla Money fiasco puts structured product sales in a spot NR Ramaprasad, a 76-year-old investor from Bangalore, was relieved when media reports last month said Aditya Birla Money had made good the losses suffered by its clients in a derivatives product. He promptly wrote to the company seeking a refund of the approximate Rs 40-lakh loss in his two accounts that held shares as collateral against the fancy product, Options Maxima. But the company refused. Instead, it asked him to settle the deficit in margins. Ramaprasad is among a few other investors who are yet to be compensated for the losses because of misplaced bets in Options Maxima. Though Aditya Birla Money is not legally bound to compensate clients for the losses, these investors are agitated that the company has been partial to a few clients.

IL&FS Investment Managers acquires Saffron Asset Advisors Private equity firm IL& FS Investment Managers (IIML) today acquired Saffron Asset Advisors Private (SAAPL) for an undisclosed amount. Besides, IIML`s subsidiary IL&FS Investment Advisors (IIAL) has also completed the merger of Saffron Capital Securities and Saffron Capital Advisors with itself, the private equity firm said in a statement. As a result of the completion of these corporate actions, the assets under management of the company along with its affiliates have increased to USD 3.2 billion. With this merger, IIAL has become manager of Euronext listed 220 million Euro Yatra Capital and also Saffaron India Real Estate Fund, it said.

ONGC to invest Rs 5 bn in renewable energy R&D Oil and Natural Gas Corporation (ONGC), India`s largest state-run oil exploration company, will invest Rs 5 billion on research and development in the areas of non-conventional energy sources, a top official said. ``Achieving energy security for the country was a major challenge to sustain a high growth rate. India is having only 0.5 per cent of the world`s hydrocarbon reserves and it would be difficult to meet the growing energy demand unless alternative and renewable sources were tapped and utilised to minimize our dependency on non-renewable resources like fossil fuels,`` said ONGC Chairman and Managing Director R S Sharma. Addressing India Inc at the National Quality Summit 2010 organised by the Confederation of Indian Industry (CII), here, he said as part of its efforts to achieve energy security for the nation, ONGC has ventured into exploration of shale gas reserves.

Honda Siel to consider new plant Honda Siel Cars India (HSCI), an arm of Honda Motor Corporation, Japan, is exploring the possibility of adding a new plant to boost capacity. The company plans to launch a small car just before next Diwali. HSCI, the third-largest Japanese automotive brand in India after Suzuki and Toyota Kirloskar, is gearing up to launch the car at the 27th Thailand International Motor Expo 2010, starting November 30. It had showcased the concept car at this year`s Delhi Auto Expo. The small car will be priced below Rs 5 lakh and have two versions. HSCI will promote the car on the basis of its fuel efficiency. HSCI is capable of expanding the capacity of its Noida plant to 100,000 units a year from 60,000. But Tatsuya Natsume, director (marketing) of HSCI, said, ``We have some limited room to expand after hitting 100,000 units a year.``

BEL expects Rs 7 bn order for coastal surveillance Bangalore-based Bharat Electronics (BEL), the public sector defence behemoth, expects to secure contract for the first phase of the coastal surveillance system for Rs 7-8 billion from the Coast Guard by next month, a top company official said. ``We are going ahead with the initiative, which we have taken on our own using internal funds, because this is very crucial project for the country`s security,`` Ashwani Kumar Datt, chairman and managing director, BEL said. Talking to reporters here on the sidelines of CII`s National Quality Summit 2010, he said the company would be making a capital expenditure of Rs 2.5-3 billion by end of the current fiscal on the project. ``Our order book position is good and it is at about Rs 117 billion presently,” Datt said.

Securities in F&O ban: Aban Offshore, Core Projects, Ispat Industries, Power Grid

Banks agree to resume MFI lending, but have asked them to be extremely cautious to prevent slippages

Sical Logistics: Open offer by Tanglin to acquire 20% at Rs 79.5 from January 08 – January 27


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