Monday, October 17, 2011

TECHOUTLOOK : Support for the Nifty is at 5050 and resistance at 5190.

Market Outlook: Indian markets are likely to be on the positive wave taking cues from better than expected RIL Q2 numbers and expecting better than expected numbers from TCS & HDFC. AS we are in the result season top leaders would guide the market momentum. As more companies declare their results, markets to take cues on the outlook on demand and costs which could determine the market sentiments for the quarter.

Results today: TCS, HDFC, ING Vysya Bank, Zee Entertainment, IFCI, Magma Fincorp, Mindtree, Nelcast, Peninsula Land, Automotive Stampings, Persistent Systems, Morarjee Textiles, Motilal Oswal Financial, Mahindra Lifespace, Granules India, South Indian Bank, Elgi Rubber.

On the global space: The US markets rallied in the final hour of trading to close at their highest levels after a volatile session. All the three major indices logged 10-week highs, amid optimism that the Eurozone would find a solution to its debt crisis. The volatility index finished below 29. For the week, the Dow surged 4.88%, the S&P climbed 5.98% and the Nasdaq surged 7.60%.

Asian markets trading higher; Hang Seng, Nikkei up

Back to Indian Markets are following global cues, so we continue to hold a cautious outlook with support 5050 and resistance at 5190.

Global events to watch for today

Þ Industrial production data for September.

Þ G20 finance ministers and central bankers met over the weekend at Paris.

Global indices Update @ 8:

Dow Jones : 11644 (+166.3)

NASDAQ : 2667 (+47.61)

Nikkei 225 : 8881 (+133.4)

Hang seng : 18795 (+293.9)

SGX CNX Nifty : 5064 (- 04.50)

Gold (USD/t oz.) : 1682 (- 00.30)

Nymex Crude (F) : 87.19

INR / 1 USD : 49.06

TECHOUTLOOK : Support for the Nifty is at 5050 and resistance at 5190.

Call for the day:

BUY TCS & HDFC on intraday basis

Stocks in action for the day: NIIT, RIL, Maruti, HCC, NMDC, TCS.

CBI conducts search at NMDC's office in Bellary -CBI examined documents over alleged illegal mining by DMS in NMDC areas -NMDC Is National Mineral Devevelopment Corp -DMS is Deccan Mining Syndicate -Alleged that DMS encroached NMDC's mining areas

International Tractor Ltd (ITL Ltd) after the company plans to sells the Sonalika brand and is in talks with private equity players to sell 10 percent stake for around Rs 450 crore.

Oberoi Realty Ltd after the company reported a 17 per cent increase in its consolidated net profit to Rs 111.44 crore for the quarter ended September 30, 2011, on the back of higher sales.

Maruti Suzuki Ltd after the automobile giant Maruti Suzuki's Manesar plant, the firm's striking workers Saturday said negotiations for ending the nine-day stir would start Monday.

Videocon Industries Ltd after the diversified business conglomerate has secured its shareholders' approval to make investments, provide securities and extend guarantees and inter-corporate loans up to an amount of Rs 25,000 crore.

Arvind Ltd has announced that one of its promoter group entities has pledged over 4.68 crore shares of the garments manufacturer, amounting to 18.59 per cent of the total outstanding shares of the company.

NIIT Ltd after the IT training company on Sunday said it has sold its US-based subsidiary, Element K Corporation, to SkillSoft Corporation for $110 million in an all-cash deal. NIIT had acquired the 700-employee strong Element K for $35 million in 2006.

Airlines companies will be in focus after a proposal for big hike in landing, parking, navigation and other charges at the Delhi & Mumbai airports being considered by Airports Economic Regulatory Authority (AERA).

Onelife Capital Advisors (OCAL) after the financial service company is all set to get listed on the bourses today. Company intends to spend IPO money for purchasing of corporate office at Mumbai, development of portfolio management services and brand building activities.

Tata Motors September Global sales - -Very strong global sales again due to new launches like Land rover Evoque and Jaguar XF doing well in main market of UK -Geography wise, China saw the best growth again with Jaguar sales up 157% in China and Landrover sales up 85% in China MoM -September global wholesale sales up 22.6% at 107,258 versus 87459 units -September global JLR sales up 30% at 27639 versus 21242 units -September Jaguar sales up 62% at 5525 versus 3409 units -September Landrover sales up 24% at 22114 versus 17833 units

Geographical contribution -China saw the best growth with Jaguar sales up 157% in China and Landrover sales up 85% in China -India saw Jaguar sales up 63%, Landrover up 155% -Russia saw 16% jump in JLR sales -Brazil saw 55% growth in JLR sales

MoEF on Lavasa Refuses to grant green nod to phase I till preconditions met MoEF Says -Pre-conditions have not been complied with -Unable to issue clearance to phase I of hill city project

-Final decision on clearance after pre-conditions met -Final decision subject to final orders of bombay HC

Lavasa says -Disappointed with environment ministry order -After 11 months of delay, MoEF has evaded grant of clearance -Reasons given for clearance delay 'not good enough'

Maha govt issued environment clearance to company in 2004 -MoEF-appointed committee also recommended clearance -Committee recommendations accepted by MoEF in June -First time in history of MoEF, pre-conditions were imposed -Have complied with all pre-conditions -Move by MoEF 'highly discriminatory, unjust'

Ajit Gulabchand says -Request the cabinet to please intervene -Appeal to the PM to intervene' -We will take this matter to Bombay HC on October 18' -Local community in Lavasa has been hit

Maruti Suzuki Update -Maruti Suzuki workers to hold a rally today -Trade unions & workers of 45-50 Companies in the Manesar belt to join rally -25 workers suspended by Maruti Suzuki on October 14

Exclusive IOC says -Very transparent process for calculating under-recoveries -Under-recoveries calculated as per formula given by Finance Ministry -'Wrong public perception we're making supernominal profits' -Currently make profit of only 56 paise/l on petrol -Have not received any compensation for the year -Current marginal under-recovery on petrol 33 paise/l -Dollar has depreciated by Rs 3.50 in last 45 days -Would've reduced petrol prices if not for dollar depreciation

-Have asked upstream companies to defer payments for crude -Asked upstream companies to defer payments till compensation got -GoI yet to indicate when OMCs will receive Rs 15,000 crore -Suggested to Finance Ministry petroleum should be part of GST

Listing Today: One Llife Advisors Capital issue price: 110/sh - Rain Commodities board to approve buy back of shares in the board meet on Oct 25

Jet fuel prices cut marginally by Rs 325/Kl

Land Acquisition Bill may not hit the parliament soon: BS

RTS Power approves allotment of 3.8 lakh equity shares at Rs 36/sh ((CMP: 30.50))

States have decided to impose 4 – 5% VAT on sugar and textiles from next fiscal – BS

LIC hikes stake in BoB to 7.12% from 4.67%

Wholesale sugar prices up 3-5% head of festive demand – ET

Finmin mulls raising cap for FII investment in infra bonds from current USD 5 billion – ET

Maruti ’s component makers suffer Rs 1400 crore loss on Manesar unit (ET)

AEG, Electrotherm to call off solar business deal, as companies cite poor demand from corporates & state govt (ET)

Moser Baer staff strike over bonus demands (BS)

RIL to suspend drilling for oil & gas until revaluation & fresh plan is submitted to govt (Mint)

NIIT approves divestment of entire holding in its subsidiary NIIT Ventures for USD 110 million (M-cap:Rs 719cr, CMP: Rs 43.60)

F&O Ban: ABG Shipyard, Gitanjali Gems


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