Monday, November 14, 2011

Stocks in action for the day: KFA, RIL, Lanco Infra, Alok Ind, Coal India

Market Outlook: Markets is expected to open higher tracking firm Asian markets. Asian markets are trading firm backed by Japan’s gross domestic product (GDP) which rose an annualized 6.0% in the July to September period. Investors will closely watch shares of Tata Motors and M&M Ltd ahead of their quarterly results due today.

Key earnings to watch: M&M, Adani Enterprise, BHEL, Tata Motors, Cipla, JP Associates, JSW Steel, Sobha Developers, GMDC, Balrampur Chini, Bhushan Steel, Fortis Healthcare, ABG Shipyard, Coromandel Engineering, Everonn Education, Aventis Pharma, SCI, Amara Raja Batteries, BGR Energy, Unitech, GSPL, Gitanjali Gems, Kingfisher Airlines, Tata Power, Oil India, GTL, Talwalkars Fitness, Nitesh Estates, Bang Overseas, Areva T&D, JK Tyres, Emami Infra, Koutons Retail, Cox & Kings, Deccan Chronicle, Patel Engineering, Mercator Lines, Bhartiya Global Infomedia, Sunteck Realty, Zandu Realty, Crest Animation, Viceroy Hotels, Indian Metals & Ferro Alloys, Bhagwati Banquets, Graphite India, Insecticides India, Clutch Auto, Zuari Industries, Sanwariya Agro, GATI, Varun Shipping

US Market: US market too finished sharply higher on Friday extending gains for a second session with news from euro zone and on a better-than-expected consumer report.

Global indices Update @ 8:

Dow Jones : 12153 (+259.8)

NASDAQ : 2678 (+53.60)

Nikkei 225 : 8671 (+102.80)

Hang seng : 19578 (+441.6)

SGX CNX Nifty : 5261 (+61.50)

Gold (USD/t oz.) : 1793

Nymex Crude (F) : 98.85

INR / 1 USD : 49.38

TECHOUTLOOK : Support for Nifty is at 5138 and resistance at 5248

Stocks in action for the day: KFA, RIL, Lanco Infra, Alok Ind, Coal India

LIC Housing Fin Q2 net drops 58% to Rs 98 cr: LIC Housing Finance, a subsidiary of the Life Insurance Corporation of India (LIC), on Sunday reported a 58 per cent dip in its net profit at Rs 98 crore for the quarter ended September 2011 on the back of higher provisions for NPAs (non-performing assets) as mandated by the sector regulator, the National Housing Bank. Net profit of the housing finance company stood at Rs 234 crore during the same period last fiscal.

NPAs of Indian banks rise 33% to over Rs 1 lakh cr: Bad loans of the listed banks in the country soared by 33.46 per cent to over Rs 1 lakh crore during the second quarter of this fiscal reflecting the impact of rising interest rates and a slowing growth.

GSPC set to launch overseas exploratory drilling in Dec: The slow progress in developing KG asset notwithstanding, Gujarat State Petroleum Corporation (GSPC) appears to have been moving fast in exploring opportunities abroad. The State Government run company may launch its first overseas exploratory drilling campaign at North Happy offshore block, on the Mediterranean Sea near Port Said in Egypt, in the first week of December.

RCom net drops 43% to Rs 252 cr in Q2: Reliance Communications posted a 43 per cent drop in its net profit at Rs 252 crore for the second quarter ended September 30, against Rs 446 crore in the same period last year.

Educomp net down77.5% in Sept quarter: Educomp Solutions Ltd reported a sharp dip of 77.5 per cent in its consolidated net profit for the September quarter at Rs 13 crore against Rs 58 crore in the same period last year.

Kingfisher turmoil -Kingfisher Airlines to sell property to fly out of debt crisis; board to discuss preferential issue & new lease plan today (ET) -To cut debt to Rs 3000 crore via sale of assets & cash reserves -Finance Ministry not in favour of banks bailing out Kingfisher
-Rahul Bajaj says private sector should not be bailed out

SBI Chairman says -Given guarantee to oil companies on behalf of KFA -Have asked Kingfisher Airlines to bring in equity -KFA hoping for FDI policy liberalization -KFA wants equity from foreign airlines -KFA debt to equity conversion an emergency step-No plan to further up equity in Kingfisher Airlines -Bankers to meet KFA' officials on Tuesday -Current exposure to KFA at Rs 1,500 crore

Coal India says: -H1 profit up 68% at Rs 6,737 crore (YoY) -Quantity of e-auction has risen, boosted realisations -Not much increase in volume growth -Growth being driven by price hikes -Coal price hikes will help neutralise increase in wages -Will have clarity on price hikes by December-end -Will use reserves to buy stake in overseas mining companies

Govt ups post office saving deposit interest rate to 4% -Aligns small saving plan interest rate to same tenure gilt -Ups ceiling on public provident fund to Rs 1 lakh/year -Commission payment on public provident fund discontinued -Ups interest rate on public provident fund to 8.6%-Commission on senior citizens' saving scheme scrapped -States' share in small savings mop-up cut to 50% from 80%

Housing Ministry uploads Draft Real Estate Regulator Bill on website -Each state to set up Real Estate Regulatory Authority -Regulator to comprise 1 chairperson, minimum 2 members -Draft bill says mandatory accreditation of all developers-To adhere to approved plans, project specifications -Allottee to stick to payment schedule-Allottee to pay interest in case of delay -Centre to set up Real Estate Appellate Tribunal-Real Estate Appellate Tribunal to hear disputes

Aviation ministry turns soft on foreign airlines entry; open to raising FDI cap upto 26% (ET)

OMCs may partially roll back petrol price hike next week; Oil retailers may cut petrol prices up to Rs 1/Litre: Sources

RIL , BP offer to share D6 Infra with state run companies; move could save to reduce development costs & raise govt’s revenue from new output (ET)

Lanco Infra plans to spend upto Rs 24000 crore on capex despite coal issues (Agencies)

Elder Pharma plans to roll out 8 more products in FY12 (Agencies)

Banks refuse to disburse loans to power companies; want the companies to show steady supply of coal (BS)

Alok Industries in talks to sell Mumbai land; looks to bag around Rs 900-1000 crore for the deal (BS)

Dish TV to mop up around Rs 1000 crore by issuing shares to foreign investors (FE)

Coal imports 51% higher than last year (FE)

Sanwaria Agro Oils board meet to consider buy back

Gammon Infra gets letter of award worth Rs 316 crore from NHAI

IVRCL board approves merger of IVRCL ltd with IVRCL Assets & holdings

EPC Industries board approves rights issue worth Rs 50 crs

F&O ban: Gitanjali Gems

NTPC trading arm begins supply of solar generated power: The electricity you buy will soon have a mix of power produced from solar energy sources. Starting October, NTPC Vidyut Vyapar Nigam, the trading arm of NTPC, has commenced bundled power supply — combining energy produced from solar photovoltaic with those produced from conventional thermal sources.

Govt speeds up process for decision on FDI in multi-brand retail.

Bajaj Finserv gets SEBI approval for mutual fund business.

Ranbaxy's malaria drug awaits international nod.


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