Monday, October 31, 2011

TECHOUTLOOK : Support for the Nifty is at 5300 and resistance at 5420.

Market Outlook: Indian market are expected to open in the positive terrain and expect some sort of profit booking attempts in the second half. Asian markets trading lower; Hang Seng, Straits Times down.

Key earnings to watch: ICICI Bank, Wipro, HUL, BPCL, Colgate, NMDC, Bank of Baroda, Havells India, Dabur, EIH, Alok Industries, Ballarpur Industries, Castrol India, Bata India, United Breweries, Corporation Bank, Dena Bank, Central Bank of India, Oriental Bank of Commerce, Punjab & Sind Bank, Vijaya Bank, IPCA Labs, Indian Bank, United Bank of India, Usha Martin, Canara Bank, Subex, UCO Bank, Gulf Oil Corp, Karnataka Bank, Atlas Cycles, Century Textiles, IFB Agro Industries, Gujarat Pipavav, Gillette, LGB Forge, KSE, Tulsyan NEC, Global Spirits, PITTI Laminations, SJVN, Vimta labs, Century Plyboards, Shanthi gears, Mawana Sugars, Greenply Industries, GTN Industries, Apar Industries, Tulsi Extrusions, 3M India, Raj TV.

US Market: On Friday, the US markets closed out a volatile week mixed, registering modest gains as part of what is shaping up to be the market's best month ever. Personal income grew just 0.1% in September however consumers increased spending by 0.6%. Also the final October reading for consumer sentiment came in above expectations at a 60.9.

Global events to watch:

Þ The FED will hold its second to last meeting of the year on Tuesday and Wednesday. There is some speculation in the market that the FED could start up a new quantitative easing programme — QE3.

Þ The European Central Bank will also hold a rates meeting on Thursday, the first to be presided over by new ECB president Mario Draghi.

Global indices Update @ 8:

Dow Jones : 12231 (+22.56)

NASDAQ : 2737 (- 01.48)

Nikkei 225 : 9096 (+45.80)

Hang seng : 19940 (- 78.39)

SGX CNX Nifty : 5388 (+04.00)

Gold (USD/t oz.) : 1714

Nymex Crude (F) : 92.82

INR / 1 USD : 48.82

TECHOUTLOOK : Support for the Nifty is at 5300 and resistance at 5420.

Stocks in action for the day: VIP Ind, GMR infra, Maruti, Andhra Cement, Unitech.

Maruti posted an extremely disappointing set of numbers . Margins cracked to their lowest level since 2008, profits slid a whopping 60%, as an appreciating Yen, higher commodity costs and labour unrest at Manesar hit production. The board approves land purchase for a new facility in Gujarat.

Kotak Mahindra Bank has hiked its savings rate for deposits over Rs 1 lakh rupees to 6%. The revised savings rate for deposits up to Rs 1 lakh at 5.5%. The bank has also hiked its base rate by 25 bps to 10%.

The Siemens India board approves amalgamation of Siemens V-A-I with itself.

Unitech will be in focus today--Sanjay Chandra's bail plea will be heard at Supreme Court at 2 pm today.

Kotak Mahindra Bank: -Hikes savings rate for deposits over Rs 1 lakh to 6% -Revised savings rate for balance up to Rs 1 lakh at 5.5% -Hikes base rate by 25 bps to 10% -Hikes BPLR by 25 bps to 18.75% Uday Kotak says -No hike in charges to offset hike in savings rate -Do not see savings rate coming down in the near future -Awaiting RBI guidelines on pre-payment penalties

Maruti Q2: -Net profit at Rs 240 crore versus Rs 598 crore (YoY) -Revenue at Rs 7,537 crore versus Rs 9,147 crore (YoY) -Other operating income at Rs 256 crore versus Rs 170 crore -Maruti board approves land purchase for new facility in Gujarat Maruti says -Q2 output hit on Manesar unit labour unrest

IOB Q2 -Net profit at Rs 207 crore versus Rs 206 crore (YoY) -NII at Rs 1,266 crore versus Rs 956 crore (YoY)

RIL eyes US refinery Valero, may bid USD 48/sh, valuing the company at USD 27.5 billion – Reports (Brokerages give thump up to such an acquisition)

Anil Ambani sells majority stake in Mudra to Omnicom (Mudra is an advertising company)

GP Goenka to sell Andhra Cement to Dalmia Cements – ET

NMDC may bid for Russian coal co Vincy Coal – Agencies

Debt revamp of GTL put off till November end (BS)

GMR infra wins 555 Kms Mega Highway project contract for Kishangarh – Udaipur – Ahemdabad Highway

Hindustan Zinc to pay record Rs 736 crore dividend

Stock Split: VIP Industries from Rs 10/sh to Rs 2/sh

Siemens India board approves amalgamation of Siemens VAI & Morgan Construction with self

JSW Steel says Japan's JFE showing interest in joining Bengal project

Phillips Carbon Black board allots 12.5 lakh equity shares at Rs 196/sh ((CMP: 140.50))

Bhagyanagar India to buy back a maximum of up to 80 lakh shares at maximum offer price of Rs 35/sh ((CMP: 15.30))

Rain Commodities to buy back a minimum of 60 lakh shares at maximum offer price of Rs 41/sh ((CMP: 31.50))

F&O Ban: Gitanjali Gems


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