Wednesday, November 2, 2011

Stocks in action for the day: HCC, RComm, IVRCL, Kingfisher, AB Nuvo.

Market Outlook: Indian markets are expected to open lower tracking feebling global market and keeping an close eye on U.S Fed meeting to be held today. European turmoil is also having an impact on sentiment, investor focusing towards policy measures to be adopted to solve the debt problem.

Key earnings to watch: Andhra Bank, Allahabad Bank, Onmobile Global, Piramal Lifesciences, L&T Finance holdings, Trent, Karur Vysya Bank, Taj GVK, Jubilant Industries, Rico Auto, Arrow textiles, SMS Pharma, Tube Investments, Omnitech infosolutions, Navneet publications, Hindustan motors, Welspun projects, Uflex, Elgi equipments, ICRA, Berger paints, TRF, Hindustan Organic Chemicals.

US Market: The US markets finished near lows in volatile trading due to heightened uncertainty over whether Greece would derail European efforts to curb the region’s sovereign debt. The pace of growth in the U.S manufacturing sector unexpectedly slowed in October, its Index of National Factory Activity dipped to 50.8 from 51.6 the month before. And US construction spending rose only slightly in September.

Global events to watch:

Þ U.S. economy: ADP employment data.

Þ FOMC decision, Fed Chairman Bernanke press conference.

Global indices Update @ 8:

Dow Jones : 11656 (-297.0)

NASDAQ : 2606 (-77.45)

Nikkei 225 : 8665 (-170.3)

Hang seng : 19073 (-296.7)

SGX CNX Nifty : 5235 (-54.50)

Gold (USD/t oz.) : 1727

Nymex Crude (F) : 91.53

INR / 1 USD : 49.07

TECHOUTLOOK : Nifty support seen at 5190 with an resistance level at 5299.

SELL Central Bank SL 105 Target 97.5.

SELL ITC SL 212 Target 200.

SELL Nifty SL 5280 Target 5195.

BUY Orchid Chem Sl 165 Target 210 (Positional call).

Stocks in action for the day: HCC, RComm, IVRCL, Kingfisher, AB Nuvo.

Exports growth slows, rise 36.4% in September: India’s merchandise exports grew 36.4 per cent in September, reaching $24.8 billion from $18.2 bn a year before. However, this is a much lower rise than the previous two months. In July, exports grew 81.8 per cent; in August, these rose 44.2 per cent. Imports in September rose 17.2 per cent to $34.6 bn, against $29.5 bn in the same month last year.

In monthly auto sales, Hero Moto 's growth moderated due to high base and fewer production days in October though retail sales have been strong at 650,000 units.

Piramal Health settled patent row over generic Suprane with Baxter. The management says that they may launch generic Suprane in US on January 1, 2014

IIFCL lines up Rs 3,600-cr proposals for take-out financing: India Infrastructure Finance Company Ltd (IIFCL) has lined up proposals worth Rs 3,600 crore for take-out financing.

Gujarat Pipavav posts Rs 13.21-cr profit in Sept: Gujarat Pipavav Port Ltd has registered a net profit of Rs 13.21 crore for the quarter ended September 2011, against a loss of Rs 9.82 crore in the same period last fiscal.

PSUs to procure 16% from small enterprises, 4% from SC/ST-owned units: The Union Cabinet has cleared the Public Procurement Policy, mandating Government departments and public sector companies to procure goods and services from Micro and Small Enterprises (MSEs) and SC/ST owned enterprises.

Radio Mirchi Q2 net jumps 80% to Rs 9 crore: Entertainment Network (India) Ltd, which operates the country's leading private FM radio channel, Radio Mirchi, has reported a net profit of Rs 9 crore for the quarter ended September 30, 2011, against a profit of Rs 5 crore reported in the corresponding quarter last year.

Lavasa issue -Maharashtra Govt to initiate criminal case against Lavasa promoters soon ( HCC holds 61% stake in Lavasa)Ajit Gulabchand says -Maharashtra govt acting as an agent of Environment Ministry -Criminal case against Lavasa not initiated by Maharashtra Govt -Pre-conditions have never been put on projects in MoEF's history -Environment Ministry discriminating against Lavasa -MoEF does not need to wait for Maharashtra govt to give approval Lavasa singled out by Environment Ministry with pre-conditions

Rs 14,000 crore bank recap likely in FY12: Sources -Committee on bank recap likely to submit report in 1 week -Demand for grants for recap likely in 2nd supplementary -Rs 4,500-7,000 crore for capital infusion in SBI in FY12 -Rs 20,000 crore likely to be asked for bank recap in FY13 budget -PSU banks to be asked to improve capital efficiency -Microfinance bill likely to be introduced in winter session

Piramal Health settles patent row over generic Suprane with Baxter -Piramal Health says may launch generic Suprane in US on January 1, 2014

ENIL Q2 (QoQ) -Consolidated net profit at Rs 8.3 cr vs Rs 9.3 cr -Consolidated net sales at Rs 68.5 cr vs Rs 68.7 cr

Ambuja Cements Q3 -Net profit at Rs 171 cr vs Rs 152 cr (YoY) -Net sales at Rs 1,805 cr vs Rs 1,564 cr (YoY)

AB Nuvo Q2 -Consolidated net profit at Rs 214 cr vs Rs 105 cr (YoY)
-Consolidated net revenue at Rs 5,280 cr vs Rs 4,495 cr (YoY)

Listing today: Indo Thai Securities (Issue Price at Rs 74/sh)

RIL to collaborate with Reliance Communications to use towers & fibre optic cables for entry in the telecom sector (ET)

IVRCL close to selling 2 road projects to L&T for an undisclosed amount (ET)

Lenders reject Kingfisher ’s debt recast plans; cite airlines poor finances & losses incurred on conversion of loan in equity (TOI)

HC tells Zenith, to disclose its asset sale details to US based PE Summit Partners (ET)

Oil marketing companies brace for Rs 1.8 hike in petrol prices

Jindal Polyfilms to buy back a maximum of 40 lakh shares at a maximum price of Rs 350/sh ((CMP: 226.50))

ACC October cement sales at 1.97 mt vs 1.92 mt (YoY)

Ambuja Cement October cement sales at 1.78 mt vs 1.75 mt (YoY)

Hero MotoCorp October total sales at 5.12 lakh units vs 5.05 lakh units (YoY)

Prism Info board meet on November 8 to consider the proposal to raise Rs 30 crore

F&O Ban: Gitanjali Gems


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