Plus and Minus

MARKET BEGINS WITH A DOWN TREND - SENSEX LOSES 136 POINTS!

2014-07-29T11:53:00.001-07:00

TUESDAY, 29^thJULY 2014

The week began on a weaknote with Sensex shedding 136 points. It closed at 25,991 points.

Nifty too lost 42 points and closed at 7,749 points.

Among the leading Gainers were Indiabulls Housing and Central Bank which gained a little more than 7% each. Amtek Auto gained 5%.

Among the losers, Wockhardt lost nearly 8%, while IRB Infra, CESC, DLF and BFUtilities each lost 5%.

FINANCIAL RESULTS

State Bank of Mysore has earned a net profit of Rs.74.77crore for the quarter ending June 2014, as against Rs.52.22crore for the corresponding period in the previous year.

Bank of Baroda has earned a net profit of Rs.1362crore for the quarter ending June 2014. During the same period, last year, the Bank had earned only Rs.1168crore.

Blue Star has recorded a 36% increase in its net profit for the quarter ended June 2014. It has earned a net profit of Rs.31.01crore for the quarter compared to Rs.22.77crore earned during the corresponding period in the previous year.

OTHER NEWS

The licences of six non-banking finance companies, based in Delhi, have been cancelled by the Reserve Bank of India. The companies in question are: GE Strategic Investments India; Profound Exports; Two Brothers Holding; Swank Services Private Ltd; Praxis Consulting and Information Services; and Credible Microfinance Ltd. In view of the cancellation of their licences, these companies will not be able to carry on business. The reasons for cancellation have not been indicated.

The Union Finance Minister, Arun Jaitely is scheduled to hold his first meeting with all the heads of the public sector banks on 31^st July. He is expected to impress upon them the need to reduce the interest rate to boost growth.

DISINVESTMENT PLANS TO RAISE Rs.58,425CRORE

The Union Finance Minister, Arun Jaitely is hopeful of raising Rs.58,425crore through disinvestment.

The Public Sector Companies, lined up for disinvestment are:

Coal India – Likely dilution 10%; ONGC 5%; NHPC – 11%;SAIL, PFC, REC, CONCOR, NLC, MMTC, MOIL and STC – each 5%

A BOAT CLUB ROAD PROPERTY FETCHES RECORD PRICE!

A residential plot, measuring 9.5 grounds, in the prime locality (Boat Club Road) has been acquired by Ravi Appaswamy, for Rs.105crore! This deal beats the previous best price of Rs.10crore per ground, in the same locality!

SENSEX AND NIFTY END THE WEEK ON A DECLINE!

2014-07-29T11:50:00.002-07:00

Saturday, 26th July, 2014

After nearly ten days of uptrend, the stock market went in the opposite direction at the close of the week.

Sensex ended the with 26,127 points, 145 points below the previous day’s closing. Nifty ended with 7,790 points, 40 points below the previous day’s close.

LEADING GAINERS:

Wockhardt gained by 14%; Tata Sponge gained by nearly 9%; Guj.Pipanav, Glenmark and Indiabulls each gained 7%.

LEADING LOSERS:

TVS Motor lost almost 10%, while Jaypee Infra and Biocon lost 7% each.

OTHER NEWS

GVK Power and Infrastructure Limited, a Hyderabad based company is to start commercial operations of two of their power projects, in the current financial year.

LIC Housing Finance Ltd., Has announced its quarterly results. In the quarter ended June this year, it has made a net profit of Rs.32,230.68lakhs as against Rs.31,050.70lakhs, during the same quarter in 2013.

WILL THE FIFTH TIME BE LUCKY?

The New Delhi Municipal Corporation has given an extension of six months to the Tata-owned Indian Hotels Company Ltd., to operate the Taj Mansingh Hotel. The lease expires on 31st July. This extension is the fifth given to the IHCL.

NOKIA PAYS VRS COMPENSATION

Nokia has paid a um of Rs.250crore, as compensation to its Chennai manufacturing facility employees who opted for the VRS offered by the company in May last. A total of 5,600 employees availed of this offer.

JK Lakshmi Cement has reported a net profit of Rs.40crore in the current quarter ended June, as against Rs.16crore during the same period last year. This shows an increase of 150%.

Punjab National Bank’s net profit for the quarter ended June has gone up. It has earned a net profit of Rs.1,405.12crore, compared to Rs.1,275.32crore earned for the same quarter last year.

The net profits of the Indian Bank and Allahabad Bank, for the quarter ending June, have gone down by 35% and 73% respectively.

A sort of breather has been given to Sahara Group Chief Subrata Roy, by the Supreme Court. It has asked the Delhi government, to explore the possibilities of providing a place (of course, within the Tihar jail complex) to enable Roy to hold talks, over deals with prospective buyers of his properties, either in person, or through video conferencing.

ALSTOM SA CHARGED FOR CORRUPTION!

2014-07-29T11:48:00.003-07:00

Alstom is a diversified group with interests in rail, power and electricity transmission sectors. The company has been charged by the UK Sessions Fraud Office, for ‘alleged corruption relating to large transport projects in India and two other countries.

TVS Motor Company has come out with its financial results for the quarter ending June, 2014. The net profit for the quarter has gone up by 39.42% over the corresponding period in the previous year. This year, it has earned a net profit of Rs.72.32crore, for the quarter, whereas the net profit last year was Rs.51.87crore.

L&T Finance Holdings has reported a net profit of Rs.287.69crore for the quarter ending June, 2014 as against Rs.186.54crore earned during the same period in the previous year.

WILFUL DEFAULTER!

It is almost likely that Kingfisher Airlines will be declared a ‘Wilful Defaulter’. If that happens, the promoter Vijay Mallya may have to face criminal proceedings and a ban may be imposed on him on raising funds from financial institutions. Kingfisher Airlines owes around Rs.4,022 crore to a consortium of 17 lenders, led by SBI.

MARKET CONMTINUES ITS UPWARD TREND!

2014-07-29T11:45:00.004-07:00

Friday, 25thJuly 2014

Stock market continued its upward trend, for the seventh day in succession. Sensex closed at 26,272 yesterday, improving by 125 points. Nifty also went up by 35 points and closed at 7,831.

TOP GAINERS

Among the top gainers were: Tatas Sponge (25%); Financial Tech (10%); Atul (8%); and UCO Bank (6%)

TOP LOSERS

Cain Industries, TVS Motor and JP Associates lost 7%, 6% and 6% respectively, while Sun TV Net and Voltas lost nearly 4%.

Tata Sponge, a t Rs.1011.10 recorded its life-time high! In the course of the last nine trading sessions, the scrip gained 64%.

Among the BSE small cap stocks, NDTV, Ashiana Housing and Thinksoft Global Services, gained substantially, improving by 20%, 19% and 10% respectively.

FOREIGN INVESTMENT CEILING INCREASED!

The Union Cabinet has cleared the bill, to raise the foreign investment ceiling in private insurance companies. The increase will be 50%, i.e., the ceiling has been increased from 26% to 49%. However, the management and control of these companies will be with Indians.

TRAIL GIVES WARNING TO TELECOS!

2014-07-29T11:43:00.000-07:00

TRAIL, the telecom regulator, has warned that it may have to review service providers’ freedom to ix mobile call and service rates, in the event of their increasing the tariffs beyond the present base rates. TRAI Chairman is reported to have said: “I do not expect headlines tariff to change. If they change, as and when they change, I have told the industry, then the regular reserves is right to go back and look at it again if forbearance should be continued or not. I am being open, there is nothing to hide.”

When there is economic slow-down, the Indian companies choose to please the shareholders by paying more dividends rather than spending on ‘buy out’ deals. It is on record that TCS has paid out the highest amount as dividend (5,520crores) in the financial year 2013-14. ITC, Infosys and Reliance Industries are behind TCS, paying out Rs.4,927crores, Rs.3,142crores and Rs.3,123crores respectively.

MRF has announced the declaration of a dividend of Rs.3 per share. This is only an interim dividend. The company’s financial year is October-September. In the current financial year, during the third quarter ending June, the company has earned a net profit of Rs.230.22crores, as against Rs.227.28crores during the same quarter in the previous year. The share price of the company, at BSE was Rs.23,010 at the opening; it closed at Rs.24,365!

TCS recorded its 52-week high price of 2,586!

2014-07-29T11:41:00.000-07:00

Thursday, 24th July 2014

Stock market showed upward trend and, at close yesterday, Sensex stood at 26147, up by 122 over previous day’s closing. Nifty too marched forward and closed at 7796, up by 30. During intra-day, Nifty crossed 7800 mark and, at one stage, recorded 7809!

Financial Tech recorded the highest gain, almost 10% (9.99%) and MRF followed it by gaining nearly 6% (5.83%).

Tata Consultancy Servicesbecomes the first Indian company to achieve Rs.5lakh crores in marketcapitalization. Other companies, which are close to TCS, are:

ONGC (3.5lakh crores); Reliance Industries (3.3lakh crores); ITC (2.8lakh crores).

Incidentally, TCS recorded its 52-week high price of 2,586!

Polaris results for the first quarter ending June have come out. There is a decline in its net profit. It has earned a net profit of 38.32crores, compared to Rs.43.2ccrores in the corresponding period in the previous year.

Wednesday, 23rd July, 2014- SENSEX GOES BEYOND 26,000 MARK!

2014-07-23T08:04:00.000-07:00

There was a leap in the Sensex index; it gained more than 300 points and closed at 26026. Nifty too gained substantially and went up by 84 points, to close at 7768.

Among the leading gainers, in Sensex, Bharti Airtel gained the most (4.81%). Others to follow were: Reliance Industries (3.35%); HDFC (2.93%); TCS (2.71%); and Hindalco (2.62%). The following were the leading losers in Sensex: Maruti Suzuki (1%) and L&T (nearly 1%)

In Nifty, Bharti Airtel was the top gainer (5%), followed by Reliance Industries and HDFC, TCS and Dr.Reddy’s (each 3%). Among the losers, Maruti Suzuki lost a little more than 1%, whereas L&T, Punjab National Bank and Mahindra & Mahindra lost close to 1% each.

It is learnt that among the public sector undertakings, as many as 79 are in the red! The government has invested more than Rs.1,57,000 crore!

The net profit of Axis Bank, for the quarter ending June, is up by 18%. It has earned a net profit of Rs.1,667.7 crore for the quarter, compared to Rs.1,408.9 crore during the corresponding period in the previous year. During the quarter, the bank’s loan portfolio registered a substantial growth. The Executive Director and Head of the Corporate Centre of t he bank said: “While we have been hoping that the economic revival will kick in, we expect it to come in the fiscal year 2016. The bank will continue to see credit growth of 20%, better than the system.”

LOANS AGAINST PLEDGED GOLD -RBI RELAXES CEILING!

The Reserve Bank of India has announced that the ceiling of Rs.1 lakh on loans for non-agricultural purposes, against pledged gold, is being relaxed. It has, however, left it to the individual banks to decide on the lending cap.

TOMATO CORNERS GLORY!

2014-07-23T08:01:00.002-07:00

Though there has been an all round increase in the price of vegetables, tomato has pushed all other vegetables far behind, thus putting them to shame. Tomato seems well settled, at Rs.80 per kilo and, may be, it will cross the century mark.

If this trend continues, it will not be a surprise to see some of the hotels and restaurants, if not all, exhibiting their price-lists as shown below!

REVISED PRICE- LIST

Soup (other vegetables) -Rs.40/-

Soup (Tomato) – Rs.80/-

Other Baths – Rs.80/-

Tomato Bath – Rs.120/-

In the circumstances, if a family of four happen s to go to a hotel and want to enjoy the ‘luxury’ of tomato soup and tomato bath, they will have to shell out a considerable amount of extra cash! It will,, therefore, be better to think twice before toying with an idea of enjoying anything connected with tomato. Gone are the days when, in almost every household, the same tomato was used in everything, like sambar, rasam, thokku, pickles, etc.! Will those days come back!

Monday, 21st July 2014 MARKET CONTINUES TO MOVE FORWARD!

2014-07-23T07:59:00.001-07:00

Market is still upbeat! Sensex index has moved up considerably and, at the end of the day, it was 25,715, up by 74 points over last week closing. Nifty also was up by 20 points and closed at 7684.

Some ‘Pundits’ feel the market will only witness upward trends hereafter. Let us keep our fingers crossed! Nobody in the world can predict, accurately, the birth and death of an individual. Similar is the case with share market predictions. We cannot take any prediction, on its face value, however great and experienced may be the pundit who ‘gives predictions,’ including the writer who, however, does not claim himself a pundit.

HDFC, Reliance Industries and Asian Paints gained more than 2% over the previous closing. SBI gained a little over 1.5%, while Indusind Bank gained more than 3%.

Azim's pledge to philanthropy!

2013-02-21T07:11:00.002-08:00

Corporate/General News

Azim Premji pledges more contribution to philanthropy!

Air Asia and Tatas form a new Joint Venture!

Posco India is to get 1554 acres from Odisha government for setting up a mega steel plant in Jagatsinghpur district. The government has already handed over 546 acres and very soon this additional 1554 acres will be given to the company.

Export of agri-seeds from the country is likely to be doubled to Rs.1000crores in the next 2-3 years, because, as many as 38 varieties from the country have been registered in the OECD list, NSA said.

There is a possibility of an early polls this year, feels M.Venkaiah Naidu, senior BJP leader. He says, “Congress- led UPA government was seriously thinking of going for an early election after presenting a pro-people budget so that it can fetch votes”.

“To tackle the hard technology problems facing business today”, Infosys Limited and Australia’s premier ICT research organization NICTA have signed a joint collaboration agreement. The potential outcome of the collaboration, the companies feel, could see ageing technology systems readily modernized for the cloud. “Logistics department could find faster and greener transport routes” they feel.

Petrol and diesel prices have been hiked by Rs.1.50 per litre and 45 paise per litre respectively.

With a view to pacify the lenders of Kingfisher Airlines, the parent company UB Group has said that it would find an early solution to the financial mess of the Airlines.

The India Australia series looks to turn out to be a money spinner for broadcaster ‘Star Sports’. It has been able to rope in top advertisers including Hero Motor Corp. It may be recalled that Hero Motor Corp has recently decided to sever the relationship with IPL and Mumbai Indians.

Ford India has launched a new variant of its sport utility vehicle “Endeavour”, which is priced at Rs.23.2 lakhs ex-showroom, New Delhi. This launch comes when the company is trying to increase its reach in the country to boost sales. The company has also announced its association with National Geographic Channel for a 5-part series featuring 5 celebrities and the latest variant “Endeavour Alterrain”.

Wipro Chairman Azim Premji has pledged to contribute more of his wealth to philanthropic activities. This will be through the Azim Premji Foundation. The exact amount he is going to contribute has not been specified. However, it may be recalled that in the year 2010, he donated around $2 billion representing 8.7% of the total stock of Wipro from his personal holding for philanthropy.

Unilever, a major FMCG, is to set up a deodorant manufacturing plant in Khamgaon, Maharashtra. For this purpose, the company is proposing to invest Rs.360 crores.

Air Asia and Tatas join to form a new venture. And it is reported that Chennai will house the headquarters of the joint venture.

Market this week so far!

2013-02-21T07:07:00.002-08:00

Market this week so far!

The week started with market looking upwards. While on Monday, Sensex and Nifty gained 33 and 11 points to close at 19501 and 5898 respectively, the market went up still further on Tuesday. On Tuesday, Sensex gained 135 points to close at 19636 and Nifty gained 42 points to close at 5940. On Wednesday, both Sensex and Nifty made very negligible gains of 7 and 3 points respectively to close at 19643 and 5943.

Market last week

2013-02-21T07:05:00.004-08:00

Market last week

On Monday last (11^th February), Sensex lost 24 points while Nifty lost 6 points. However, on Tuesday, the market witnessed a positive trend with Sensex gaining 100 points and Nifty gaining 25 points. The same trend continued on Wednesday. Sensex was up by 47 points and Nifty was up by 10 points. But the trend was reversed on the next two days, that is, Thursday and Friday. On Thursday, Sensex lost 111 points while Nifty was down by 36 points. On Friday, the last trading day of the week, Sensex was down by 29 points and Nifty was down by 10 points.

Over all, the week witnessed a very meager change- Sensex was down by 0.1% and Nifty was down by 0.3% over the previous week’s closing.

Corporate/ General News

2013-01-03T01:26:00.001-08:00

Corporate and General News

The sales of Honda Motorcycles and Scooters, for December have gone up by 14%. During the month the company has sold 2,17,612 units compared to 1,91,584 units sold in the corresponding month in 2011.

KEC International, infrastructure major, has bagged orders for domestic and overseas projects worth Rs.1511 crores in the field of transmission, power systems and cable business.

SBI have opened a new NRI branch at Saidabad in Hyderabad on 2^nd January.

Mercedes-Benz is to increase the prices of all its models by upto 3%, with a view to offset the rising input cost and currency fluctuations. The MD and CEO of the Indian company has said “We will increase the prices of our vehicles to the tune of 1to 3% effective January 14.”

Delhi Metro Rail Corporation (DMRC) is to get a new Director of Operations. The incumbent Raj Kumar has retired on 1^stJanuary and in his place, the company is appointing technocrat Sharat Sharma. Mr. Sharma has 33 years of experience out of which 11 years are with DMRC. During that period, he was responsible for design and execution of electrical works of phase 1. He also led the whole electrical team in tendering, designing and executing the electrical assignments of phase 2.

Adani Power has approached the coal ministry with a request to grant long term coal linkage for its proposed Thermal Power Plant in Maharashtra.

The Apparel Export Promotion Council (AEPC) will open training centers in Karnataka to bridge the huge gap in demand and supply of skilled work force in the state.

NMDC is busy having talks to acquire coking coal asserts in Russia and Mozambique to feed its upcoming steel making plant in Chattisgarh. It will be a 3 million tons per annum plant with an outlay of Rs.15,525 crores.

Market Report!

2013-01-03T01:25:00.000-08:00

Market Report

The New Year 2013 augurs well for the market. On the first two days of trading in the New Year, Sensex and Nifty rose considerably. On the 1^st January, Sensex improved by 154 points to close at 19581, while Nifty gained 46 points to close at 5951. On the 2^ndJanuary, Sensex rose by 133 points to close at 19714 and Nifty gained 42 points and, in the process, crossed the 6000 mark; it closed at 6036 points.

The Major Gainers and Losers on the first two days, that is, Tuesday and Wednesday are:

On Tuesday

Gainers:

OM Mobile Global 14%

Punjab and Sindh Bank 11%

PC Jewellers 9%

Petron Engineering 9%

Losers:

Only two companies have lost a little over 1%. Other losses are very negligible.

Wednesday

Gainers:

Tata Coffee 13%

Rushil Décor 12%

State Bank of Mysore 11%

Gitanjali Gems 9%

Losers:

NCC 3%

20 Microns 3%

As market experts predicted earlier, it will not be a surprise if, in 2013, Sensex goes beyond 23000 and Nifty 6500/7000. Actually, it is just a question of days for the Sensex to breach 20000 mark.

Nifty crossing 6000 mark (after 2 years) has meant that there is a heavy windfall for those who chose to invest in mid-cap and small-cap last year. The following figures will certainly break the hearts of those who have ignored these scrips. For those who invested in these shares, it will be a highly pleasant shock.

Let us not forget, for a moment, that even in Sensex, quite a few shares have fetched more than 50% in 2012. Tata Motors leads the group with a return of as much as 75%.

On the other hand, some of the mid cap and small cap shares in BSE have given returns of as high as 200% and above (mid cap) and 500% and above (small cap).

Corporate/ General News - Infosys in China's list!

2012-12-19T23:49:00.001-08:00

Corporate/ General News:

Infosys has been named by China in the list of hundred Key Liaison Service outsourcing companies. Infosys is the only company from India to get this pride of place.

BGR Energy Systems Ltd. Has secured Rs.1548 Cr worth orders from National Thermal Power Corporation to supply steam turbine and generators (STG) for NPTC Power plants.

With a view to reduce its liabilities, DLF, India’s largest realty company, has sold its Amon Resorts to its founder and Chairman, Adrian Zecha for Rs. 1600 Cr. This deal will help the company to reduce its huge debt to some extent.

Nalco resumes mining activities!

NALCO, the aluminium major, has resumed mining activities at Panchpatmal plant in Odisha’s Koraput district.

For setting up 10 specialised hospitals in India, by the year 2015, Apollo hospitals will be investing Rs.400 Cr.

ABG Shipyard, India’s largest shipbuilding company has got orders worth Rs. 485 Cr from the Ministry of Defence for building an additional cadet training vessel for the Indian Navy.

Ratan Tata retires!

On 20th December, 2012, when he turns 75, Ratan Tata retires from the $100 billion Tata Group as Chairman. He is to be succeeded, as already announced, by Cyrus Mistry, who is the current vice chairman of the Group.

A simple advice from Ratan Tata to Cyrus Mistry: " You should be your own person, you should take your own call and you should decide what you want to do". Ratan Tata feels, " I don't think it is right to have a ghost to shadow over somebody." Ratan Tata has been in the group for 50 years and, as Chairman for 21 years.

Hitachi of Japan is to invest around Rs.4700 crores in India for expansion, which includes setting up of 5 new manufacturing units by 2016, March. Last year, the company had a turnover in India, to the tune of about Rs.6700 crores.

Boeing, a US based aircraft maker, is to appoint Prutyush Kumar as President of Boeing India. Kumar is succeeding Dinesh Keskar.

Market News - Sensex and Nifty Gain!

2012-12-19T23:45:00.002-08:00

Market News

Market continued its previous week’s downtrend into this week. On Monday, the first trading day of this week, Sensex closed at 19244, losing 73 points and Nifty closed at 5858, losing 22 points.

On Tuesday and Wednesday, however, the Market witnessed positive trend. On Tuesday, Sensex gained 120 points and Nifty 39 points. On Wednesday, Sensex gained 111 points and Nifty 33 points. At close on Wednesday, Sensex was at 19476 and Nifty at 5930.

As already said, the experts feel the market will go positive into the new Year.

Major gainers and losers:

Tuesday:

Gainers:

ESS DEE Aluminium 15%

Den Network 8%

Bombay Dyeing 7%

JK Cement 7%

Unitech 6%

Losers:

JP Power 7%

Wednesday:

Gainers:

Adani Power 7%

Federal Bank 6%

Oberoi Realty 6%

Losers:

Gitanjali Gems 3%

Closing of alumina refinery at Lanjigars would result in the loss of 7000 jobs!

2012-12-05T07:34:00.000-08:00

Corporate/General News!

Vedanta Group is likely to close its alumina refinery at Odissa’s Lanjigars from today. This would result in the loss of 7000 jobs in the eastern state.

Lanco Infra will now be able to supply 300MW of power to the distribution companies in Madhya Pradesh.

Boeing India, a US Aircraft manufacturer has appointed Ashmita Sethi as communications director for India.

Dabur India, a FMCG firm has roped in South Indian actor Samantha Ruth Prabhu for its newly launched range of air freshening gels under the Odonil Brand.

UBI is proposing to raise Rs.300crore from bonds to fund its business growth.

In order to avoid long wait at the Central Bank counters for payment of advanced taxes, the RBI has made arrangement for collection at 926 branches of public and private sector branch in Mumbai and Navi Mumbai.

City Union Bank is proposing to raise Rs.215crores through sale of shares to investors on rights basis and also by issuing equity shares to its employees.

Market News- Sensex crossed 19000-mark!

2012-12-05T07:28:00.001-08:00

Market News

On Thursday last, Sensex crossed 19000-mark and closed at 19172, up by 324 points over previous day’s closing. Nifty too forged ahead to a 19-month’s high and closed at 5825, up by 97 points. Both the closings were the highest since April 2011.

Major gainers and losers:

Gainers:

DE Nora India 20%

Patel Integrated 19%

Aqua Logistics 17%

GE Industrial 17%

PCS Software 16%

Tata Telly Mahindra 13%

India Bulls Finance 11%

Losers:

Kiri Industries 20%

Premier Polyfilm 18%

Lloyds Finance 14%

Apollo Hospitals 8%

Tuni Textiles Mills 7%

On Friday, the last trading day of the week, market continued to be bullish. Sensex gained 169 points and closed at 19340. Nifty closed at 5880, gaining 55 points.

Gainers and Losers:

Gainers:

Sudar Industries 18%

Bajaj Corp 10%

Jyothi Laboratories 9%

Karnataka Bank 7%

Renuga Sugars 7%

Losers:

Tribhuvandas BH 4%

Zee Internationals 4%

Spice Jet 4%

On the first day of this week, that is 3^rd December, Sensex dropped 35 points to close at 19305 and Nifty too shed 9 points to close at 5871. On Tuesday, however, both Sensex and Nifty showed improvement. Sensex closed at 19348, gaining 43 points and Nifty closed at 5889 gaining 18 points.

Gainers and Losers (3rd December)

Gainers:

Punjab Communications 20%

ICRA 20%

Pantaloon Retail 10%

Adani Enterprises 8%

Jain Irrigation 6%

India Hotel 6%

Losers:

West Coast 5%

Gainers and Losers (4th December)

Gainers:

Elder Pharma 20%

United Breweries 19%

Tilaknagar Industries 13%

JP Power 10%

BF Utilities 6%

Losers:

Karnataka Bank 6%

Jet Airways 5%

Sensex zooms!

2012-11-28T04:09:00.001-08:00

Market News

Yesterday, market witnessed upward trend. Sensex gained 305 points and closed at 18842. Nifty too, on its part, made a substantial gain of 92 points and closed at 5727.

Yesterday’s major Gainers and Losers:

Gainers:

Future Capital Holdings 20%

Unitech 11%

Polaris Finance 8%

Raymond 7%

Suzlon Energy 10%

United Spirits 7%

Losers:

Hindustan Copper 10%

Corporate/General News

Reliance Industries has become the country’s most valued company, thus pushing IT major TCS to second place. With a market value of Rs.254377 crores at close of trade yesterday, RIL surpassed TCS’s market capitalization of Rs.253479 crores.

Airtel has launched international roaming plans. This will be applicable for post paid customers who are visiting U.S, offering upto five hours of free incoming calls and back home calls at a discount of upto 87%.

Intel, the computer chip maker has launched a new series of processors, Itanium 9500. This, the company claims is over two times faster than its previous generation processes. This will make it ideal for demanding workloads including business analytics and database.

Kalanidhi Maran owned Sun Television Network has announced that the company’s investment in Hyderabad IPL branches will yield profit after three years.

Corporate/General News: A new chief is coming to NSE.

2012-11-27T00:10:00.002-08:00

Market News

Yesterday too, the market witnessed a positive note. Sensex was up by 30 points closing at 18537 and Nifty was up by 9 points, closing at 5636.

Major gainers and losers:

Gainers:

Spice Jet 13%

DF Utilities 13%

Jet Airways 11%

Claris Life Sciences 9%

Loser:

Hindustan Copper 20%

Aditya Birla Nova was at its two-year high at Rs.1041 during intra and closed at 1028. This means 40% increase in the year.

Corporate/General News:

A new chief is coming to NSE.

Chithra Ramakrishna, aged 49 is to take over charge as CEO from the current CEO, Ravi Narain. Currently, Chithra Ramakrishna is the joint MD of NSE. She has been with NSE ever since its inception.

Narain will, however, be with NSE as Vice Chairman of the Board. This post has been created by the NSE to accommodate him.

UTI Asset Management Company is searching for a full time chief, which post has been lying vacant for nearly two years. The company has released ads inviting applications for the post.

L&T Finance Holding Limited is to raise $65 million by selling its stake to the extent of 4.7% in Federal Bank. The company is going to sell 7.9 million share at prices ranging between Rs.450 and Rs.469.75 per share.

Dena Bank is to provide working capital to dealers of International Tractors Limited by way of channel financing.

The luxury car maker, Audi of Germany, is likely to start assembling SUV Q3 in India at its Aurangabad plants. At present the company is assembling Sedan A4, A6 and SUV Q5 and Q7 in the country. It is planning to have an installed capacity upto 12000 cars per annum within the next one or two years.

A relief for Kingfisher Airlines?

Assocham, the industry body, has suggested a bail out for KFA. This suggestion follows the Government of India’s decision to come to the rescue of the ailing Air India. The Assocham feels that there is not much of a difference in the financial woes of both the Airlines.

Lanco Infra is to get $2 billion as loan from the China Development Bank, for its two power projects. $2 billion amounts to Rs.11000 crores.

Market News/ Corporate News/ General News

2012-11-26T00:29:00.001-08:00

Market News

Market witnessed a positive sign on Thursday last, that is, 22^nd November, 2012, with Sensex and Nifty gaining 60 and 13 points respectively. Sensex closed at 18517 and Nifty at 5628.

Notable gainers and losers:

Gainers:

Blue Dart Exp 20%

Hindustan Copper 11%

OMDC 10%

Shalimar Paints 8%

Losers:

Man Industries 10%

Pantaloon Retail 6%

On Friday, the 23^rd November, the last trading day of the week, Sensex was down by 11 points and Nifty was down by just 1 point.

Overall, however, the week ended with Sensex gaining 197 points and Nifty 27 points.

The following were the major gainers and losers on Friday.

Gainers:

MT Educare 15%

Eros International 11%

Jet Airways 16%

Karnataka Bank 9%

Losers:

Hindustan Copper 20%

STC India 5%

Corporate/ General News

CIPLA, drug manufacturer has appointed Subhanu Saxena as its CEO. The appointment is with effect from 1-2-2013.

GE plans to roll out 30 new products in India in the next 3 years. The new products will be energy and healthcare segments.

VLCC, a wellness and beauty company, has acquired a majority stake in Malaysia-based Wyann International. The sum involved in the deal remains undisclosed.

UP government has announced an agricultural loan waiver to the tune of Rs. 1650 crores. This will benefit half a million small and marginal farmers in the state.

The RBI is to issue Rs.500 and Rs.10 denomination notes with Rupee symbols shortly.

Tata Housing Development Company has said that the US-based Portman Holidays has invested around Rs.65crores in its luxury housing project in Bangalore, for a minority stake.

Tata Steel announces plans of cutting about 900 jobs in UK and another 500 jobs at Port Talbot plant.

Government of India gets Rs.800crores through the sale of shares of Hindustan Copper. The public sector undertakings and LIC are the main supporters.

Hero Motor Corporation is soon to start exporting its products to Africa and Latin America.

The multi-brand watch retailer, Helios, from Titan India is planning to open 13 more stores in different parts of the country before the close of the year.

JK Papers hopes to achieve a turnover of Rs.2500crores next year.

Suzlon Group has secured contracts for 40MW projects from Gujarat State Fertilizers and Chemicals Limited and Bharath Electronics Limited.

Kalanidhi Maran quits Kal Airways!

2012-11-22T05:47:00.001-08:00

Market News

Market witnessed an upward trend yesterday, with Sensex improving by 136 points. At close, Sensex was at 18,460 points. Nifty too gained considerably and closed at 5615 points, up by 43.

The top 3 gainers and losers:

Gainers:

Peninsula Land 10%

DB Realty 9%

Jet Airways 9%

Losers:

Honeywell Auto 20%

BOC India 6%

MTNL 5%

Corporate and General News

Sathyam Computers gets notice!

In the money-laundering case involving its previous management, Sathyam Computers Services Limited ( Mahindra Sathyam ) has been issued notice by the Adjudicating Authority under the Money Laundering Act asking it to appear before the authority and provide evidence and information pertaining to case.

India's mineral production has risen by 8.25% in terms of value, during September this year, to Rs.14785 crores. This excludes atomic and minor minerals.

The contributors to the total mineral production are:

Petroleum Rs.5600 crores

Coal Rs.4137 crores

Iron ore Rs.2321 crores

Natural Gas Rs.1221 crores

Lignite Rs.355 crores

Limestone Rs.335 crores

Kalanidhi Maran quits from Kal Airways!

Kalanidhi Maran and his wife Kaveri Maran have resigned from the Board of directors of Kal Airways, a promoter holding firm of Spice Jet.

LIC and EPFO lend a helping hand to Air India.

That the National Carrier, Air India is heavily debt-laden is well known. Now, the LIC and EPFO ( Employee Provident Fund Organization ) are to fully subscribe to the Rs.7400 crores non convertible debenture sale that Air India is bringing out. It should be noted that only in April last, the government gave a bail out to the company to the extent of Rs.30000 crores.

Ernakulam in Kerala- First to acquire 100% banking

2012-11-21T05:32:00.000-08:00

Market News

On Monday, Sensex closed at 18,339 with a small gain of 30 points. Nifty closed at 5571, losing a meagre 3 points.

Only one company, that is Tribhovandas Bhimji Zaveri gained 5%. Incidentally it has improved by 25% this month.

The following companies lost 5% or more.

Tata Global 5%

Syntex India 6%

L&D Finance Hol 10%

Yesterday, the market witnessed a somewhat lack-lustre trading. Sensex was down by 7 points closing at 18329 and Nifty neither gained nor lost, closing at the previous day's level, 5572 points.

Only Apollo Hospitals gained 5%.

On the losing side were Unitech (6%), DB Realty (6%), Rel. Commn (5%) and UB Holding (5%).

Market Pundits feel, however, that markets are not likely to be fazed. Though they feel that the coming parliament session will be somewhat tumultous, the government will not fall.

Corporate/ General News

Honda Motorcycle&Scooter India has recalled 11500 units of the standard variant, of its premium motorcycle CBR 250 R, produced and sold in India. The reason for the recall is stated to be defective break system.

Essar Shipping has added two more vessels to its fleet. With this addition, the company's tonnage will be 2 million. These two are out of the total 6 vessels ordered by the company.

Coal India has said that October-December period may see some slippage in production.

Airtel Africa says it has completed a network transformation program across its mobile operations in African countries, in partnership with Ericsson.

Ernakulam district in Kerala will soon have the unique distinction of being the "first to acquire 100% banking" in the country. The district is to be dedicated to the nation as the first having "meaningful financial intrusion", on November 22 at a function which will be attended by the state Chief minister, Mr. Oomen Chandy, union minister, K.V.Thomas, RBI Governer Subba Rao, and Nandan Nilekeni, UIDAI Chairman, besides others.

The iron ore export from India is at its lowest for ten years. The export, in October, was 281000 tons. In 2011, India was the world's third largest exporter of iron ore. This year, the country will export only 38 million tons as against 76 million tons last year.

L&T has won new orders worth Rs.2503 crores across various segments.

Inter Continental Hotels Limited has announced that its joint venture with Duet India will be opening 19 hotels in India. For this purpose it is to invest Rs.13000 crores.

Uttar Pradesh has the largest share of 33% among the Indian states as far as road projects, worth Rs.55000 crores, are concerned.

The Revenue Department is working on a plan to recover cash dues from Kingfisher Airlines, which owes more than Rs.200 crores to the government exchequer.

Dhanalaxmi Bank's senior level executive are quitting. So far, four such executives have exited, including Mr.Rajamani who was the COO of the bank.

Market News - Sensex shed 162 points - Nify lost 57 points!

2012-11-19T04:56:00.000-08:00

Market News

On the last trading day, Friday, the 16th November, Sensex shed 162 points and closed at 18309, while Nifty lost 57 points and closed at 5574. Both Sensex and Nifty closed for the week at a level witnessed two months ago.

The following companies gained 5% or more:

Tata Coffee 6%

Geometric 5%

Apollo Hospitals 5%

The following lost 5% or more:

Unitech 6%

DB Realty 6%

TV18 Broadcast 10%

Corporate/ General News

The leading global financial services company, Golden Sachs has named 266 individuals to become MDs and 70 persons as partners, both with effect from 1^st January 2013.

Out of the 266, 16 persons of Indian origin are in the list. In the list of “partners”, 3 persons of Indian origin find a place.

Every year the company announces the list of MDs, and once in two years it announces the list of partners.

The estimated salary of an MD is $500000, while a partner will receive $900000. Good news for Indian origins!

Amway India, a direct selling FMGG Major, is to set up its first manufacturing facility in the country in Tamil Nadu. The investment is estimated to be Rs.550crores. The company has signed a MoU with the government of Tamil Nadu for this purpose.

Air India is unable to find buyers for five of its Boeing777s. So it has decided to scrap the sale.

L&T is to sell its medical equipment business in Mysore to Skanray Health Care. Financial details of the deed have not been disclosed.

United India Insurance Company has earned a net profit of Rs.350.59crores for the half year ended September 2012 as against Rs.341.07crores for the same period in 2011.

Tamilnad Mercantile Bank has earned a net profit of Rs.98.36crores for the quarter ended September 2012 against Rs.64.74crores for the corresponding period in the previous year.

Uttam Galwa has acquired a majority stake of more than 50% in Lloyds Steel, which is ailing. Uttam Galwa plans to invest an additional sum of Rs.380crores in Lloyds Steel to turn around the company.

NMDC hopes to increase its iron ore capacity to 48 million tons a year from 2014 -2015. The present installed capacity is 32 million tons per annum.

Golconda Diamond fetches record price

2012-11-16T06:43:00.001-08:00

Market News

Yesterday, the market showed a downward trend. Sensex lost 145 points and closed at 18471, while Nifty lost 36 points and closed at 5631.

Yesterday’s leading gainers and losers:

Gainers:

Jet Airways 10%

TV 18 Broadcast 14%

Tata Coffee 20%

Losers:

United Breweries 10%

UB Holding 5%

Corporate News

Zylog Systems Limited has earned a net profit of Rs.21.49crores for the quarter ended September 2012 as against Rs.49.05crores for the same period last year.

Opto Circuits (India) Limited has earned a net profit of Rs.116.24crores for the quarter ended September 2012 as against Rs.121.06crores for the same period previous year.

Essar Power Limited has earned a net profit of Rs.17.81crores for the quarter ended September 2012 as against Rs.72.58crores for the same period in 2011

Dhanalaxmi Bank has earned a net profit of Rs.18.62crores for the quarter ended September 2012 as against Rs.4.35crores for the corresponding period last year.

Manindra & Mahindra Financial Services has raised Rs.867crores through a qualified institutional placement issue. This issue was oversubscribed five times.

Toyota Motor Corporation is to recall 2.77million of its vehicles worldwide. This recall will include certain models of PRIUS. This recall is necessitated because of certain problems with the steering mechanism and the hybrid system water pump. It should be noted here that this is the second multi-million vehicle recall in two months.

General News

GOLCONDA DIAMOND FETCHES $21.5 MILLION.

At an auction held in Geneva on Tuesday last, an ‘internally flawless’ diamond from Andhra Pradesh’s Golconda mines, fetched a record price of 20.355 million dollars. This was disclosed by the auctioneer Christie’s.

The buyer, it is stated wished to remain anonymous.