MORNING NOTE

[RAJESH DESAI]

MARKETS

Asian Market is trading lower as Hang Seng was up by 0.95% while Nikkei 225 was up by 0.98% and Chinese markets were  up by 0.70%. Asian stocks rose for a second day and metals advanced on speculation China and Europe will take steps to bolster economic growth. The euro weakened. Overnight U.S. markets were up by 1.09%. SGX Nifty at 8:00AM was trading at 4940  with a gain of 58 points and the market is likely to trade between 4900 and 4970 levels.

 

MARKET STATS AT 8:00AM

Domestic Indices	Last Price	CH	% CH	% CH 5D	N-Ferrous Metals	Last Price	CH	% CH	% CH 5D
Sensex	16183.26	30.51	0.19	(0.20)	Copper	7780.00	49.00	0.63	0.19
Nifty	4906.05	14.60	0.30	(0.74)	Aluminum	2048.75	1.75	0.09	1.17
Global Indices	Last Price	CH	% CH	% CH 5D	Zinc	1911.00	5.50	0.29	(1.19)
Dow Jones	12504.48	135.10	1.09	(1.50)	Nickel	17120.00	-65.00	-0.38	0.74
NASDAQ	2847.21	68.42	2.46	(1.91)	Lead	1955.00	14.00	0.72	(2.64)
S&P 500	1315.99	20.77	1.60	(1.67)	Bullion & Crude Oil	Last Price	CH	% CH	% CH 5D
FTSE 100	5304.48	36.86	0.70	(2.95)	Gold	1591.43	-1.65	-0.10	3.06
CAC 40	3027.15	19.15	0.64	(1.01)	Silver	28.45	-0.02	-0.07	2.60
DAX	6331.04	59.82	0.95	(1.87)	NYMEX Crude Oil	92.68	0.11	0.12	(1.38)
Nikkei 225	8718.59	84.70	0.98	(2.05)	ADR/GDR	Last Price	CH	% CH	% CH 5D
Hang Seng	19103.81	181.49	0.96	(3.97)	Infosys	42.96	0.09	0.21	(0.79)
Shanghai	2364.894	16.59	0.71	(0.42)	ICICI B	29.46	0.85	2.97	0.00
CSI 300	2615.45	28.22	1.09	(0.07)	Wipro	8.71	0.00	0.00	(3.33)
KOSPI	1821.46	22.33	1.24	(4.08)	Sterlite	7.37	0.10	1.38	4.84
Taiwan	7241.2	48.97	0.68	(2.09)	HDFCB	29.73	0.67	2.31	(2.24)
Indices Future	Last Price	CH	% CH	% CH 5D	Tata Mo	24.5	1.07	4.57	(8.55)
SGX Nifty	4940	58.00	1.19	0.12	Tata Com	7.34	-0.20	-2.65	(5.90)
Dow Jones	12485	-5.00	(0.04)	(0.95)	DR.Reddy	29.99	0.09	0.30	(1.58)
Currencies & Freight	Last Price	CH	% CH	% CH 5D	MTNL	0.78	0.03	4.00	(3.35)
USD-INR X-RATE	55.04	0.61	(1.11)	(1.96)	Patni	18.45	-0.11	-0.59	(2.89)
EUR-INR X-RATE	70.25	1.04	(1.48)	(1.14)	SBI	72.65	2.55	3.64	6.21
INR-JPY X-RATE	1.45	0.00	(0.28)	2.35	RIL	25.25	0.37	1.49	(0.47)
BALTIC DRY INDEX	1141	0.00	0.00	0.79505	L&T	21.95	0.75	3.54	0.09

SOURCE:BLOOMBERG

 

    ECONOMY:

* Seven Indian states will sell 73 billion rupees ($1.3 billion) of 10-year debt today, the central bank said in an e-mailed statement.

 

    EQUITY MOVERS:

*ABB Ltd: The company won an order worth 1.75 billion rupees, it said yesterday.

* Kingfisher Airlines Ltd.: The carrier paid 150 million rupees in April as service tax, S.K. Goel, chairman of Central Board of Excise & Customs, said yesterday. It’s yet to pay 540 million rupees in service tax dues.

* National Aluminium Co: The state-run maker of the metal said fourth-quarter profit fell to 2.8 billion rupees from 3.05 billion rupees a year earlier.

* Oil & Natural Gas Corp.: ONGC Videsh Ltd., a unit of the state-run explorer, said net profit rose 1.1 percent to 27.2 billion rupees in the year ended March.

* Wyeth Ltd.: The drugmaker said fourth-quarter profit fell to 436.5 million rupees, from 474.4 million rupees a year earlier.

 

 OTHER NEWS:

* Overseas purchases of coal to fire JSW’s blast furnaces will increase to 6.5 million metric tons in the year ending March 31 from about 5 million tons the previous year, Director Jayant Acharya said in an interview, without disclosing the quantity

sought from the African mine. Supplies from Australia, the world’s biggest coking-coal exporter, have become erratic following rains and strikes in the first quarter.

* India’s oil minister, S. Jaipal Reddy, will lead a team to Turkmenistan to sign a deal to get natural gas through a pipeline.

* International bond sales by Indian companies have slumped 59 percent in 2012, seven times faster than China’s decline, as the rupee’s drop raises concern over the repayment risk of issuers from Asia’s third-biggest economy.

* The Reserve Bank of India will continue to take steps to stabilize the rupee, Deputy Governor Subir Gokarn said in Mumbai

yesterday.

* India’s April indirect tax revenue rose 10 percent to 330.4 billion rupees and FY12 indirect tax climbed 14.3 percent to 3.92 trillion rupees.

* Bharat Oman Refineries Ltd., a joint venture between Bharat Petroleum Corp. and Oman Oil Co., hired Deutsche Bank AG to

arrange a $140 million, eight-year loan.

 

    EARNINGS:

* Tata Power Co. group      - 4Q, Est. 5.67 billion rupees.

* Power Finance Corp.       - 4Q, Est. 7.83 billion rupees.

* Wockhardt                 - 4Q, Est. 2.05 billion rupees.

* Container Corp. of India  - 4Q, Est. 2.29 billion rupees.

* Opto Circuits             - 4Q, Est. 1.24 billion rupees.

* GTL, Talwalkars Better Value Fitness.

 

 

    CONFERENCES/EVENTS:

* 10:30 a.m. K.C. Samal, executive director, finance, of National Aluminium Co., will hold a conference call to discuss the FY12 results. Dial-in Numbers: +91 22 3065 0020, +91 22 66290048.

* 11 a.m. The Press Club Mumbai organizes a seminar on The Role of Media in Indo-Pak Relations on Pakistan media delegation’s visit to Mumbai. Speakers include Tahir Hasan Khan, president of Karachi Press Club, and Gurbir Singh, president of The Press Club-Mumbai. Venue: The Press Club.

* 11:30 a.m. New Delhi. Mahesh P.S. Gandhi, MD of AFII Corporate Advisors Pte and Lior Frumkes, vice president- business

development of Mekorot Israel National Water Co., will hold a press conference to discuss the Indo-Israel cooperation for

development of water projects in India. Venue: ITC Maurya Sheraton, Dhaula Kuan.

* 11:30 a.m. Chennai. Michael Boneham, president, Ford India, will address the round-table discussion to share a significant

announcement and detailed initiatives for its community. Venue: Ford India, RMZ Millenia Business Park, 143, Dr. MGR Road,

Perungudi.

* 12 p.m. New Delhi. Masaru Tamagawa, managing director, Sony India, will interact with media to share the financial results

for FY12, performance of each sub-brand and business strategy in the Indian market. Venue: Inspire Hall, Le Meridien.

* 12:30 p.m. New Delhi. Power Finance Corp. will hold a press conference to announce the company’s Q4 & FY2011-12 results and discuss ongoing activities of the company. Venue: The Oberoi, Dr. Zakir Hussian Marg.

* 12:30 p.m. New Delhi. Debashis Ghosal, CEO of Daiwik Hotels Pvt., will hold a press conference to announce and introduce a

new hotel chain in India and brief on expansion plans. Venue: Bengal Club, 1/1 Russell Street.

* 12:30 p.m. Chennai. Anand Thakur, national head- sales of Suzuki Motorcycle India Pvt., will hold a press conference to announce the launch of a 110cc motorcycle. Venue: Sheraton Park Hotel & Towers, Mowbrays Banquet Room.

* 4 p.m. Mumbai. Vinod Kumar, CEO, and Sanjay Baweja, chief financial officer of Tata Communication Ltd. will hold a press

conference on the company’s earnings. Venue: Tata Communications, BKC.

 

SOURCE:BLOOMBERG

 

Regards,

 

Team Microsec Research

 

 

 

Microsec Capital Limited

Tel: 91 33 30512100

Fax: 91 33 30512020

--
CA. Rajesh Desai

[RAJESH DESAI]

 

MARKETS

Asian Market is trading lower as Hang Seng was down by 1.45% while Nikkei 225 was down by 1.21% and Chinese markets were  down by 0.18%. Hong Kong stocks fell, with the Hang Seng Index revisiting levels last seen in January, as concern mounted that Greece may exit the euro zone, damping global demand for products from China. Overnight U.S. markets were down by 0.01%. SGX Nifty at 8:00AM was trading at 4830  with a loss of 05 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	16026.41	-156.85	(0.97)	(1.85)	Copper	7680.00	-59.00	-0.76	0.39
Nifty	4860.5	-45.55	(0.93)	0.05	Aluminum	2031.00	2.00	0.10	(0.20)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1899.00	-13.00	-0.68	0.05
Dow Jones	12502.81	-1.67	(0.01)	(1.02)	Nickel	16910.00	10.00	0.06	(0.56)
NASDAQ	2839.08	-8.13	(0.29)	(1.89)	Lead	1949.75	-15.25	-0.78	(1.08)
S&P 500	1316.63	0.64	0.05	(1.05)

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5403.28	98.80	1.86	(0.63)	Gold	1561.08	-7.42	-0.47	1.40
CAC 40	3084.09	56.94	1.88	1.47	Silver	27.93	-0.26	-0.91	2.60
DAX	6435.6	104.56	1.65	0.54	NYMEX Crude Oil	91.50	-0.35	-0.38	(1.41)
Nikkei 225	8623.46	-105.83	(1.21)	(2.02)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18762.81	-276.34	(1.45)	(2.58)	Infosys	42.9	-0.06	-0.14	(2.70)
Shanghai	2368.967	-4.34	(0.18)	0.97	ICICI B	28.93	-0.53	-1.80	(2.30)
CSI 300	2625.732	-1.79	(0.07)	1.98	Wipro	8.7	-0.01	-0.11	(4.19)
KOSPI	1805.55	-23.14	(1.27)	(1.90)	Sterlite	6.98	-0.39	-5.29	(1.27)
Taiwan	7168.9	-105.99	(1.46)	(0.91)	HDFCB	28.43	-1.30	-4.37	(6.33)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

24.11	-0.39	-1.59	(7.94)
SGX Nifty	4830	-5.00	(0.10)	(0.30)	Tata Com	7.21	-0.13	-1.77	(8.62)
Dow Jones	12442	-35.00	(0.28)	(1.05)	DR.Reddy	29.89	-0.10	-0.33	(0.86)

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.74	-0.04	-5.13	(6.33)
USD-INR X-RATE	55.40	0.36	(0.65)	(2.89)	Patni	18.23	-0.22	-1.19	(3.65)
EUR-INR X-RATE	70.70	0.45	(0.63)	(2.24)	SBI	70.9	-1.75	-2.41	2.01
INR-JPY X-RATE	1.43	-0.01	0.35	3.15	RIL	24.91	-0.34	-1.35	(2.16)
BALTIC DRY INDEX	1127	-14.00	(1.23)	-0.26549	L&T	21.1	-0.85	-3.87	(6.64)

SOURCE:BLOOMBERG

 

EQUITY MOVERS:

* A2Z Maintenance & Engineering Services Ltd.: Rakesh Jhunjhunwala bought 570,000 shares at 100 rupees apiece while Rekha

 Jhunjhunwala bought 650,000 shares of A2Z at 100.06 rupees apiece, according to a filing to the Bombay Stock Exchange yesterday.

Rakesh Jhunjhunwala also bought 1.43 million shares at 100.03 rupees apiece, according to a National Stock Exchange filing.

* Container Corp. of India :The state-run company said fourth-quarter profit was 2.27 billion rupees, compared with 2.47 billion rupees.

* Idea Cellular Ltd.: The mobile-phone service provider reduced 3G tariffs by as much as 70 percent, it said yesterday.

* Talwalkars Better Value Fitness Ltd. :The gym operator said fourth-quarter profit climbed to 95.3 million rupees, from 65.8 million

 rupees a year earlier.

* Tata Power Co.: India’s largest private utility unexpectedly posted a loss in the fourth quarter after the company made an impairment

provision for its Mundra plant. The group loss was 6.29 billion rupees in the three months ended March 31, compared with a profit of

6.25 billion rupees a year earlier, the Mumbai-based company said yesterday.

* Tata Steel Ltd.: The steelmaker’s European unit will benefit from any fall in raw material prices, supporting the ratings of India’s

biggest producer, Moody’s Investors Service said in a statement yesterday.

*TTK Healthcare Ltd.: The company said fourth-quarter profit was 37.1 million rupees, compared with 34 million rupees, it said yesterday.

 

OTHER NEWS:

* Bharat Heavy, India’s biggest power-equipment maker, may report a profit of 30.9 billion rupees ($554 million) in the quarter ended

March 31.

* India’s struggle to stem Asia’s worst exchange-rate loss is depleting the nation’s currency reserves and driving its bond risk higher at

 the fastest pace among the largest emerging-market economies.

* NTPC Ltd., India’s biggest power producer, said it plans to spend as much as $15 billion over a decade to secure overseas coal supplies

 as prices of the fuel tumble to a 19-month-low.

* India, the world’s third-largest coal user, imported 11 percent less of the fuel in April compared with the previous month, shipping data show.

 

    EARNINGS:

* Bharat Heavy Electricals  - 4Q, Est. 30.9 billion rupees.

* Tata Global Beverages     - 4Q, Est. 721 million rupees.

* Tech Mahindra             - 4Q, Est. 1.77 billion rupees.

* Rural Electrification     - 4Q, Est. 7.58 billion rupees.

* Chennai Petroleum Corp.   - 4Q, Est. 312 million rupees.

* Mangalore Refinery and    - 4Q, Est. 2.54 billion rupees.

 and Petrochemicals

* Jyothy Laboratories       - 4Q, Est. 236 million rupees.

* JB Chemicals & Pharmaceuticals, Hinduja Global Solutions,

Honda Siel Power Products, Lakshmi Machine Works, Cosmo Films,

Subex.

 

    BOND SALES:

* 3 p.m. India to sell 90 billion rupees of 91-day bills.

* 3 p.m. India to sell 50 billion rupees of 182-day bills.

 

  CONFERENCES/EVENTS:

* 9 a.m. India. Dell earnings call to announce the 1Q results for FY13 for Asia Pacific & Japan. Amit Midha, president of APJ, Dell will share

 highlights of Dell’s regional performance and address questions.

* 10 a.m. Aloke Banerjee, president of TIL Ltd., will hold a conference call to discuss the Q4 FY12 results.

* 11 a.m. Dehradun. RBI Governor Duvvuri Subbarao will meet the chief minister of Uttarakhand ahead of the RBI’s central bank board meeting

on May 24.

* 11 a.m. Kolkata. Cathay Pacific Airways’ unit DragonAir will hold a press conference to share key development for the Kolkata market.

Tom Wright, general manager - South Asia, Middle East & Africa; Rakesh Raicar, regional sales & marketing manager; and Yasser Ahmad,

sales manager- East India, will address the media.

* 12 p.m. Kolkata. P. Balaji, managing director of Sony Mobile Communication, will hold a press conference to introduce the new Sony

 Xperia smartphones and share the brand’s perspective for the year.

* 12:30 p.m. New Delhi. Mrutyunjay Sarangi, secretary at India’s ministry of labour & employment, and Joao Cravinho, ambassador of

the European Union to India, will announce the launch of India European Commission Project.

* 2:30 p.m. Nitin Soni, associate director of Fitch Ratings, Singapore, will organize a webinar on “Credit Factors for Rating Indian Telecom.”

* 4:45 p.m. New Delhi. Tech Mahindra Ltd.’s management to hold a  press conference to announce its 4Q and annual results for FY12.

 

SOURCE:BLOOMBERG

 

Regards,

 

Team Microsec Research

 

 

 

Microsec Capital Limited

--
CA. Rajesh Desai

[RAJESH DESAI]

MARKETS

Asian Market is trading lower as Hang Seng was down by 0.45% while Nikkei 225 was down by 0.30% and Chinese markets were  down by 0.15%. Hong Kong stocks fell for a second day amid concern China’s authorities need to do more to sustain economic growth and as European leaders clashed at a summit over how to contain the region’s debt crisis. Overnight U.S. markets were down by 0.05%. SGX Nifty at 8:30AM was trading at 4838  with a gain of 33 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	15948.1	-78.31	(0.49)	(0.51)	Copper	7596.25	65.25	0.87	(0.69)
Nifty	4835.65	-24.85	(0.51)	(0.71)	Aluminium	2017.00	8.00	0.40	(1.80)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1879.00	0.00	0.00	(1.11)
Dow Jones	12496.15	-6.66	(0.05)	(0.81)	Nickel	16801.00	46.00	0.27	(2.29)
NASDAQ	2850.12	11.04	0.39	(0.83)	Lead	1940.50	11.50	0.60	0.73
S&P 500	1318.86	2.23	0.17	(0.45)

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5266.41	-136.87	(2.53)	(2.57)	Gold	1560.63	-0.83	-0.05	(0.87)
CAC 40	3003.27	-80.82	(2.62)	(1.49)	Silver	27.86	0.06	0.20	(0.64)
DAX	6285.75	-149.85	(2.33)	(1.54)	NYMEX Crude Oil	90.68	0.78	0.87	(2.03)
Nikkei 225	8532.05	-24.55	(0.29)	(3.88)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18699.95	-86.24	(0.46)	(2.61)	Infosys	42.42	-0.48	-1.12	(2.28)
Shanghai	2368.387	4.95	0.21	(0.44)	ICICI B	28.58	-0.35	-1.21	(1.21)
CSI 300	2620.906	4.04	0.15	0.27	Wipro	8.66	-0.04	-0.46	(1.48)
KOSPI	1813.67	5.05	0.28	(1.71)	Sterlite	6.81	-0.17	-2.44	(5.15)
Taiwan	7160.19	12.44	0.17	(2.67)	HDFCB	28.57	0.14	0.49	(2.99)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

23.84	-0.27	-1.12	(2.21)
SGX Nifty	4838.5	33.00	0.69	(0.07)	Tata Com	7.22	0.01	0.14	(4.24)
Dow Jones	12467	1.00	0.01	0.44	DR.Reddy	29.73	-0.16	-0.54	(2.56)

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.74

0.00	0.00	(3.90)
USD-INR X-RATE	56.01	0.61	(1.09)	(2.70)	Patni	18.5	0.27	1.48	(0.22)
EUR-INR X-RATE	70.88	0.18	(0.26)	(2.20)	SBI	68.55	-2.35	-3.31	0.81
INR-JPY X-RATE	1.42	0.00	0.00	3.04	RIL	24.26	-0.65	-2.61	(3.15)
BALTIC DRY INDEX	1100	-27.00	(2.40)	-3.25418	L&T	20.54	-0.56	-2.65	(7.85)

SOURCE:BLOOMBERG

 

ECONOMY:

* Geneva. The U.S. will ask the World Trade Organization to set up a panel of judges to rule whether India’s ban on imports of

some U.S. farm products, including poultry and chicken eggs, violates global trading rules.

 

EQUITY MOVERS:

* Chennai Petroleum Corp.: The refiner said fourth- quarter profit declined to 1.07 billion rupees from 3.14 billion rupees.

* Honda Siel Power Products Ltd.: The company said fourth-quarter profit climbed to 93.1 million rupees from 34.1 million rupees.

* Lakshmi Machine Works Ltd.: The maker of textile manufacturing equipment said fourth-quarter profit dropped to 69.8 million rupees,

from 443.6 million rupees a year earlier .The company will pay 50 rupees a share dividend.

* J.B. Chemicals & Pharmaceuticals Ltd.: The chemical maker said fourth-quarter profit dropped to 88.6 million rupees, from 147.6 million

 rupees a year earlier

* Mangalore Refinery & Petrochemicals Ltd.: The unit of India’s biggest state-run explorer reported fourth-quarter profit rose to 6.02

billion rupees from 5.53 billion rupees a year earlier.

* Rural Electrification Corp.: India’s state-run lender to power projects said its net income rose to 7.63 billion rupees in the fourth-quarter

 ended March 31 from 7 billion rupees a year ago.

* Tech Mahindra Ltd.: The Indian software maker reported group profit more than tripled to 3.03 billion rupees in the fourth-quarter ended

March 31, from 921.9 million rupees a year earlier, according to an exchange filling.

 

OTHER NEWS:

* Gasoline was raised 11 percent to 73.18 rupees ($1.3) a liter in New Delhi from midnight, Indian Oil said in an e-mailed statement. Prices of diesel,

kerosene and cooking gas were left unchanged.

* India’s purchases of rupees to support the currency are stripping the financial system of cash, forcing lenders to borrow from the central

bank at the fastest pace on record and adding pressure for monetary stimulus.

* Vikas WSP Ltd. plans to more than double capacity to produce guar gum in India after surging demand for the product from Halliburton Co.

 to extract gas trapped in shale drove prices to a record.

* India has wide, growing number of attractively valued stocks, particularly those sensitive to interest rates as inflation appeared to peak,

 HSBC Global Asset Management says in statement.

* Asian stocks swung between gains and losses as investors await the outcome of a summit in Brussels at which European leaders have clashed

over how to fight the region’s debt crisis.

* Oil rebounded after closing below $90 a barrel for the first time in seven months amid speculation the drop was exaggerated and signs China will

 accelerate efforts to spur economic growth.

 

    EARNINGS:

* Reliance Power            - 4Q, Est. 1.92 billion rupees.

* Jet Airways (India)       - 4Q, Est. -3.84 billion rupees.

* Voltas                    - 4Q, Est. 733 million rupees.

* TVS Motor Co.             - 4Q, Est. 548 million rupees.

* Pidilite Industries       - 4Q, Est. 564 million rupees.

* Madras Cements            - 4Q, Est. 1.06 billion rupees.

* Max India, Gujarat Alkalies and Chemicals, Gujarat State

Petronet, JM Financial, Orbit Corp., Shasun Pharmaceuticals, Va

Tech Wabag, Golden Tobacco, Jai Corp, Future Venture India.

 

   CONFERENCES/EVENTS:

* 10 a.m. Hyderabad. CII and Cement Manufacturers Association (CMA) organize Green Cementech 2012 to on ‘Make Indian Cement Plants

 World Class in ’Green’’ for two days on May 24-25. Speakers include T.S. Appa Rao, secretary at CIP Industries & commerce department of

Andhra Pradesh; M.A.M.R. Muthiah, president of CMA; and N.A. Viswanathan, secretary of CMA.

* 10 a.m. New Delhi. Ajay Jakhar’s ’Farmers Forum’ organizes conference on Food Security. M.S. Swaminathan, agricultural scientist & MP,

 will deliver the keynote address. Speakers include N.K. Singh, deputy chairman of Planning Board of Bihar; Siraj Hussain, CMD of Food Corp.

of India, and Alok Sinha, former chairman of FCI.

* 10 a.m. Mumbai. Steve Ballmer, CEO of Microsoft Corp. will address the Microsoft India Technology Summit through a video link and share

 his vision for Microsoft. Jean-Philippe Courtois, president of Microsoft International, will present at the summit.

* 11:45 a.m. Chennai. Ajit Singh, VP of H & R Johnson (India), a division of Prism Cement Ltd., will hold a press conference to announce

new strategic business initiatives in Tamil Nadu & scale-up of its bathroom business.

* 12 p.m. Kolkata. Cargill India Pvt. will hold a press conference.

* 12 p.m. Bangalore. Prasun Kumar, Head Marketing of Sony Mobile Communication will hold a press conference to introduce the new

Sony Xperia smartphones and shares the brand’s perspective for the year.

* 3 p.m. New Delhi. Timmy Sarna, MD, and Dipak Agarwal, CEO of DLF Brands Ltd., will hold a press conference to introduce the

1st Premium Multi-Brand Outlet.

* 3:30 p.m. RBI Governor Duvvuri Subbarao will hold a press conference after Central Bank Board Meeting in Mussorie.

* 3:30 p.m. R. Rajendran, director, finance of Lakshmi Machine Works Ltd., will hold a conference call to discuss the Q4FY12 results.

* 4:15 p.m. Mumbai. J.P. Chalasani, CEO of Reliance Power Ltd., will hold a press meet to discuss 4Q and annual results for 2011-12.

 

 

SOURCE:BLOOMBERG

 

Regards,

 

Team Microsec Research

 

 

 

Microsec Capital Limited

Tel: 91 33 30512100

Fax: 91 33 30512020

--
CA. Rajesh Desai

[RAJESH DESAI]

MARKETS

Asian Market is trading mixed as Hang Seng was down by 0.44% while Nikkei 225 remained flat and Chinese markets were  up by 0.01%. Asian stocks swung between gains and losses after Italian Prime Minister Mario Monti said Greece is likely to stay in the euro and most of the region’s leaders supported issuing a joint bond. Overnight U.S. markets were up by 0.27%. SGX Nifty at 8:30AM was trading at 4895  with a loss of 23 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	16222.3	274.20	1.72	0.94	Copper	7590.00	-20.00	-0.26	(0.78)
Nifty	4921.4	85.75	1.77	0.61	Aluminum	2020.00	5.00	0.25	(2.32)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1879.00

-7.00	-0.37	(0.79)
Dow Jones	12529.75	33.60	0.27	0.70	Nickel	17000.00	-100.00	-0.58	1.04
NASDAQ	2839.38	-10.74	(0.38)	0.91	Lead	1949.00	-10.00	-0.51	(0.86)
S&P 500	1320.68	1.82	0.14	1.21

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5350.05	83.64	1.59	0.22	Gold	1552.90	-6.35	-0.41	(2.52)
CAC 40	3038.25	34.98	1.16	0.87	Silver	27.98	-0.32	-1.13	(2.64)
DAX	6315.89	30.14	0.48	0.11	NYMEX Crude Oil	90.66	0.00	0.00	(0.90)
Nikkei 225	8563.65	0.27	0.00	(0.55)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18585.18	-81.22	(0.44)	(1.93)	Infosys	43.18	0.76	1.79	1.65
Shanghai	2350.03	-0.94	(0.04)	0.24	ICICI B	29.33	0.75	2.62	3.24
CSI 300	2595.478	0.22	0.01	0.84	Wipro	8.63	-0.03	-0.35	(1.26)
KOSPI	1818.24	3.77	0.21	2.01	Sterlite	6.78	-0.03	-0.44	(4.24)
Taiwan	7078.69	-46.20	(0.65)	(1.01)	HDFCB	28.77	0.20	0.70	0.38

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

23.82	-0.02	-0.08	(1.24)
SGX Nifty	4895	-23.00	(0.47)	(0.07)	Tata Com	7.3501	0.13	1.80	(2.90)
Dow Jones	12505	-31.00	(0.25)	1.38	DR.Reddy	29.99	0.26	0.87	(0.53)

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.75	0.01	1.35	0.00
USD-INR X-RATE	55.66	-0.35	0.63	(2.10)	Patni	18.22	-0.28	-1.51	(1.99)
EUR-INR X-RATE	70.08	-0.80	1.14	(1.49)	SBI	70.1	1.55	2.26	3.24
INR-JPY X-RATE	1.43	0.01	(0.42)	0.91	RIL	24.82	0.56	2.31	(0.32)
BALTIC DRY INDEX	1058	-42.00	(3.82)	-6.94811	L&T	20.94	0.40	1.95	(1.92)

SOURCE:BLOOMBERG

 

    ECONOMY:

* Tallinn. Estonian Foreign Minister Urmas Paet will meet with representatives of the Estonian Development Fund and the Indian

Embassy to discuss the Estonia-India Foresight Report.

 

    EQUITY MOVERS:

*Bharti Airtel Ltd.: India’s largest mobile operator bought 49 percent of Qualcomm Inc.’s fourth-generation wireless venture for

$165 million yesterday. Bharti will buy the rest of Qualcomm’s stake by theend of 2014.

* Housing Development Finance Corp: India’s largest mortgage lender allowed higher share purchases by foreign investors, according

to a Reserve Bank of India statement yesterday.

* Indian Oil Corp.: The nation’s biggest refiner has lost 10.56 billion rupees in revenue since April 1 selling gasoline below costs, Chairman

 R.S. Butola said yesterday.

* Jindal Saw Ltd was awarded an investment license to build a $198 million pipeline plant in Basra, Iraq, said Khalaf al-Badran, the president

 of Basra investment committee. The plant will have an annual output capacity of 500,000 tons, according to the statement.

* Jet Airways (India) Ltd. posted a smaller-than- expected fourth-quarter loss as it flew more passengers after rival Kingfisher Airlines Ltd.

cut flights and grounded planes. The loss was 2.98 billion rupees ($53 million) in the three months to Mar. 31, compared with 1.24 billion

 rupees a year earlier.

*Telcom companies: The Telecom Commission agreed with the phone regulator’s recommendation on spectrum liberalization, R.

Chandrashekhar, secretary in the Department of Telecommunications said yesterday. India’s apex telecom decision-making body will offer four

 slots of spectrum to new companies and two slots to existing companies.

 

OTHER NEWS:

* Prospects of falling profits have turned analysts the most bearish in at least nine months on Balrampur and Bajaj Hindusthan Ltd., the

 country’s biggest maker of the sweetener. The federal government sets quarterly limits on sales by each mill to cap prices, while

state administrations fix cane rates to help about 50 million farmers, a powerful voting bloc, earn more.

* The Reserve Bank of India will take the required steps to curb swings in the rupee’s exchange rate, Governor Duvvuri Subbarao

said. The currency extended a recovery from a record low.

* Suzlon Energy Ltd.’s convertible bonds are rebounding from a four-month low after India’s biggest wind-turbine maker obtained

loan pledges to avoid default in the coming three weeks.

* Prime Minister Manmohan Singh seeks to make up lost ground in the charge to secure resources and business ties in Myanmar when

he next week becomes India’s first leader to visit its eastern neighbor in a quarter of a century.

* The value of trading in commodity futures in India fell 0.5 percent in the two weeks ended May 15, the Forward Markets Commission

 said on its website. Commodities worth 6.97 trillion rupees were traded between May 1 and May 15, compared with 7 trillion rupees a year ago,

 the industry regulator said. Gold futures trading dropped 31 percent in the period, it said.

* Goldman Sachs cut India’s 2013 growth estimate to 6.6% from 7.2%, citing weaker investment outlook, domestic policy uncertainties

 and lesser monetary policy easing.

 

    BOND SALES:

* 3:00 p.m. India to sell 40 billion rupees of 8.24% 2018 bonds.

* 3:00 p.m. India to sell 60 billion rupees of 8.79% 2021 bonds.

* 3:00 p.m. India to sell 20 billion rupees of 8.28% 2027 bonds.

* 3:00 p.m. India to sell 30 billion rupees of 8.33% 2036 bonds.

 

    EARNINGS:

* ITC                        - 4Q, Est. 15.5 billion rupees.

* Bharat Petroleum Corp.     - 4Q. Est. 38.3 billion rupees.

* Reliance Infrastructure    - 4Q. Est. 4.57 billion rupees.

* Crompton Greaves           - 4Q. Est. 1.62 billion rupees.

* MOIL                       - 4Q, Est. 988 million rupees.

* Sun TV Network             - 4Q, Est. 1.64 billion rupees.

* Karur Vysya Bank           - 4Q, Est. 1.23 billion rupees.

* NHPC                       - 4Q, Est. 2.23 billion rupees.

* Suzlon Energy              - 4Q, Est. 441 million rupees.

* Gujarat Mineral Development- 4Q, Est. 1.56 billion rupees.

* Mercator                   - 4Q, Est. 134 million rupees.

* Redington (India)          - 4Q, Est. 890 million rupees.

* Religare Enterprises, Entertainment Network (India), Great

Offshore, Texmaco Rail & Engineering, Bannari Amman Sugar,

Gujarat Fluorochemicals, Nitesh Estate.

 

   CONFERENCES/EVENTS:

* 10:30 a.m. New Delhi. Saugata Roy, minister of state for urban development, will inaugurate an ‘India Urban Transport Summit- 2012.

’ Sudhir Krishna, secretary, ministry of urban development, and Rakesh Mohan, chairman of NTDPC, will also address the session.

* 12:15 p.m. Hyderabad. Ponnala Lakshmaiah, minister for information technology, Andhra Pradesh and Sanjay Jaju, secretary,

Government of Andhra Pradesh, will address a curtain- raiser event for Advantage AP.

* 12:15 p.m. New Delhi. Fernando Armindo Lugo Méndez, president of Paraguay, will speak at a conference about “India-Paraguay:

Exploring Synergies, Strengthening Partnership.” Jyotiraditya Scindia, minister of state for commerce & industry, and Francisco José Rivas

Almada, minister of industry and commerce of Paraguay, will also address the session.

* 3:00 p.m. New Delhi. Sylvie Cazes, president, Union des Grands Crus de Bordeaux, will address a press briefing.

* 4:00 p.m. Mumbai. Shasun Pharmaceuticals will host an analyst and investors’ meet.

* 5:00 p.m. Mumbai. Shrikant Jenawill, minister of state for chemicals & petro chemicals, and K. Jose Cyriac, secretary, chemicals & petrochemicals,

 will inaugurate India Chem 2012, a conference on chemical and petrochemical industry.

 

SOURCE:BLOOMBERG

 

 

Regards,

 

Team Microsec Research

 

 

--
CA. Rajesh Desai

[RAJESH DESAI]

MARKETS

Asian Market is trading lower as Hang Seng was marginally  up by 0.06% while Nikkei 225 were down by 0.02 and Chinese markets were  down by 0.68%. The euro rose for the first time in five days and Asian stocks rebounded from a five-month low after Greek opinion polls showed voters backing parties that support the European Union’s bailout, easing concern that the country will exit the currency bloc. Oil and copper rallied. Overnight U.S. markets were down by 0.60%. SGX Nifty at 8:30AM was trading at 4915  with a loss of 12 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	16217.82	-4.48	(0.03)	0.21	Copper	7639.00	29.00	0.38	(0.14)
Nifty	4920.4	-1.00	(0.02)	0.29	Aluminum	2013.50	-1.50	-0.07	(2.64)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1908.50	22.50	1.19	0.77
Dow Jones	12454.83	-74.92	(0.60)	0.69	Nickel	17050.00	-50.00	-0.29	1.34
NASDAQ	2837.53	-1.85	(0.07)	2.11	Lead	1950.00	-9.00	-0.46	(0.81)
S&P 500	1317.82	-2.86	(0.22)	1.74

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5351.53	1.48	0.03	1.59	Gold	1576.08	3.05	0.19	(1.07)
CAC 40	3047.94	9.69	0.32	1.33	Silver	28.59	0.06	0.21	0.42
DAX	6339.94	24.05	0.38	1.10	NYMEX Crude Oil	91.67	0.81	0.89	(0.97)
Nikkei 225	8579.03	-1.36	(0.02)	(0.64)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18725.48	12.07	0.06	(1.04)	Infosys	42.46	-0.72	-1.67	(0.96)
Shanghai	2317.616	-15.94	(0.68)	(1.31)	ICICI B	29.28	-0.05	-0.17	2.34
CSI 300	2558.827	-14.28	(0.55)	(1.10)	Wipro	8.68	0.05	0.58	(0.34)
KOSPI	1824.17	9.70	0.53	2.34	Sterlite	6.95	0.17	2.51	(4.40)
Taiwan	7090.48	18.85	0.27	(1.41)	HDFCB	28.6	-0.17	-0.59	(1.58)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

23.84	0.02	0.08	1.75
SGX Nifty	4915.5	-12.00	(0.24)	0.69	Tata Com	7.67	0.32	4.35	1.72
Dow Jones	12497	68.00	0.55	0.06	DR.Reddy	30.26	0.27	0.90	1.20

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.79	0.04	5.33	5.33
USD-INR X-RATE	55.38	-0.28	0.51	(1.72)	Patni	18.224	0.00	0.02	(1.81)
EUR-INR X-RATE	69.65	-0.43	0.62	(0.63)	SBI	71.05	0.95	1.36	1.36
INR-JPY X-RATE	1.44	0.00	0.14	0.49	RIL	24.75	-0.07	-0.28	(0.52)
BALTIC DRY INDEX	1034	-24.00	(2.27)	-9.37774	L&T	21.24	0.30	1.43	0.19

SOURCE:BLOOMBERG

 

EQUITY MOVERS:

* Alok Industries Ltd.: Goldman Sachs Group Inc. bought 10.4 million shares of Alok Industries at 19.12 rupees apiece,

according a Bombay Stock Exchange filing May 25.

* Archies Ltd. reported 30.98 million rupees net profit in the three months ended March 31 compared with 20.18 million rupees a year

Earlier.

* Crompton Greaves Ltd.: The electrical equipment maker expects sales will grow 12 percent to 14 percent in the fiscal year that began

 April 1.

* DB Realty Ltd. reported 202.7 million rupees net profit in the three months ended March 31 compared with 80.4 million rupees a year

Earlier.

* Eros International Media Ltd. reported adjusted parent net income of 1.1 billion rupees in the year ended March 31 compared with

695.7 million rupees in the previous year.

* Essar Oil Ltd.: An Indian court charged Vikash Saraf, an Essar Group director, for cheating and conspiracy related to documents filed

 to obtain mobile-phone permits. The court also charged Essar Vice Chairman Ravi Ruia and Director Anshuman Ruia and two executives

of Loop Telecom Ltd., according to charges filed by India’s federal investigative agency.

* FDC Ltd. plans to buy back as many as 6.25 million shares for 110 rupees apiece, the company said May 26. The pharmaceutical research

company reported 285.7 million rupees profit in the three months ended March 31 compared with 309.8 million rupees a year earlier.

* Gateway Distriparks Ltd. reported standalone net income of 164.4 million rupees in the three months ended March 31 compared with

263.7 million rupees.

* Jagran Prakashan Ltd. reported 428.5 million rupees net income in the quarter ended March 31 compared with 420.8 million rupees a

 year earlier.

* Kalyani Steels Ltd. reported 140.4 million rupees net profit in the three months ended March 31 compared with 73.1 million rupees a

year earlier.

* MOIL Ltd.: The miner’s profit dropped to 4.1 billion rupees in the year ended March 31, from 5.88 billion rupees a year earlier.

* NMDC Ltd.: Steel Authority of India Ltd. Chairman C.S. Verma has been given additional charge by the federal government as chairman

of NMDC, Verma said by telephone May 26.

* Reliance Communications Ltd.: India’s second-largest mobile-phone operator, reported fourth-quarter profit of 3.32 billion rupees

 that beat analysts’ estimates as customers spent more time using their phones.

* Reliance Industries Ltd.: A consortium made up of the operator of the world’s biggest crude oil refinery, International Business Machines

 Corp., Cisco Systems Inc. and Allied Digital Services Ltd. is the lowest bidder for 10- billion-rupee contract to install security cameras at traffic

junctions in Mumbai.

* Sun TV Network Ltd.: The company’s fourth-quarter profit fell 1.59 billion rupees, from 2.08 billion rupees a year earlier.

* Suzlon Energy Ltd.: India’s biggest maker of wind turbines, reported a surprise loss as sales declined and finance costs increased.

 The net loss of 3 billion rupees in the fourth quarter compared with a profit of 2.11 billion rupees a year earlier.

* TAKE Solutions Ltd. reported 225.4 million rupees net income in the quarter ended March 31 compared with 204.4 million rupees a

 year earlier.

 * Tata Motors Ltd. :The company’s Jaguar Land Rover unit may report an increase in annual pretax profit on May 29 helped by demand in

 Asia.

 

OTHER NEWS:

* Coal India’s profit fell to 38.5 billion rupees ($695 million) from 40.4 billion rupees a quarter earlier, according to the survey.

Year ago figures aren’t available.

* India’s sliding rupee, the worst performing major Asian currency in the past year, threatens to fuel inflation and limit room to

 revive an economy where growth probably slowed to levels last seen in the 2008 global crisis.

* India’s market regulator will arbitrate cases involving insider trading and so-called front running instead of settling them with fines,

 the Securities & Exchange Board of India said in a statement May 25.

* The Telecom Commission will refer the pricing for auctioning 2G spectrum to a ministers’ panel, R. Chandrashekhar, secretary

in the Department of Telecommunications said May 26.

* India’s Prime Minister Manmohan Singh said yesterday his three-day visit to Myanmar will define a road map for future

cooperation between the neighbors, including forging economic ties.

* The euro rose for the first time in five days after opinion polls in Greece showed voters warming to parties supporting the European

 Union’s bailout, easing concern the country will exit the currency bloc.

 

 

    EARNINGS:

* Coal India                 - 4Q, Est. 38.5 billion rupees.

* Indian Oil Corp            - 4Q. Est. 93.5 billion rupees.

* Oil India                  - 4Q. Est. 8.69 billion rupees.

* NMDC                       - 4Q. Est. 16.9 billion rupees.

* Balrampur Chini Mills      - 4Q, Est. 930 million rupees.

* Bharat Forge               - 4Q, Est. 1.15 billion rupees.

* Indian Hotels Co.          - 4Q, Est. 949 million rupees.

* Engineers India            - 4Q, Est. 1.66 billion rupees.

* Britannia Industries       - 4Q, Est. 546 million rupees.

* Neyveli Lignite Corp.      - 4Q, Est. 3.49 billion rupees.

* Bajaj Electricals          - 4Q, Est. 600 million rupees.

* Fortis Healthcare          - 4Q, Est. 176 million rupees.

* Bombay Dyeing & Mfg Co., DQ Entertainment (International),

Bharati Shipyard, Dredging Corp. of India, Mcleod Russel India,

Amara Raja batteries, Natco Pharma, SJVN, Monsanto India, 3M

India, Sicagen India, Electrosteel Casting, National Fertilizers.

 

  

 

    CONFERENCES/EVENTS:

* 9:00 a.m. Mumbai. Kotak Institutional Equities organizes its annual banking and financial services conference, BFSI Opportunities

2012. Uday Kotak will deliver the keynote address.

* 10:00 a.m. New Delhi. S.K. Goel, chairman, Central Board of Excise and Customs speaks on “Facilitating Trade in South Asia: Challenges

 and the Way Forward” at India Habitat Centre

* 2:30 p.m. Chennai. T. Srinivasaraghavan, managing director, Sundaram Finance Ltd., and M. Ramaswamy, chief financial officer,

will address the press to discuss the company’s results.

* 3:30 p.m. New Delhi. Indian Oil Corp. Chairman R.S. Butola to address press conference on fourth-quarter and annual earnings.Venue:

 Hotel Le Meridien.

* 5:00 p.m. New Delhi. Oil India Ltd. Chairman S.K. Srivastava to address press conference on fourth-quarter and annual earnings.

Venue: Hotel Le Meridien.

* 7:00 p.m. Mumbai. Subir Gokarn, deputy governor, Reserve Bank of India; Kiran Karnik, former president, Nasscom; Ashok Advani,

 chairman and publisher, Business India; and Patrick Foulis, India business editor, The Economist will speak at a discussion on “ Collaborating

with Competitors: Driving Industry and Managing Dominance.”

 

SOURCE:BLOOMBERG

 

Regards,

 

Team Microsec Research

--
CA. Rajesh Desai

[RAJESH DESAI]

 

MARKETS

Asian Market is trading higher as Hang Seng was marginally  up by 0.09% while Nikkei 225 were down by 0.35 and Chinese markets were  up by 0.21%. Asia stocks reversed losses and oil gained on speculation China will take steps to boost growth in the world’s second-largest economy. The euro traded near a 22-month low as Europe’s banks seek more financial support. Overnight U.S. markets were closed. SGX Nifty at 8:00AM was trading at 4989  with a loss of 12 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	16416.84	199.02	1.23	1.44	Copper	7680.00	-5.00	-0.07	(0.76)
Nifty	4985.65	65.25	1.33	2.57	Aluminum	2023.00	1.00	0.05	(0.30)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1908.50

-1.50	-0.08	(0.18)

Dow Jones

12454.83

-74.92

(0.60)

0.69

Nickel

17015.00	15.00	0.09	0.68

NASDAQ

2837.53

-1.85

(0.07)

2.11

Lead

1944.00

2.50

0.13

(1.07)

S&P 500

1317.82

-2.86

(0.22)

1.74

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5356.34	4.81	0.09	0.98	Gold	1574.95	-5.99	-0.38	0.41
CAC 40	3042.97	-4.97	(0.16)	0.52	Silver	28.46	0.07	0.23	0.98
DAX	6323.19	-16.75	(0.26)	(0.12)	NYMEX Crude Oil	91.12	0.26	0.29	(1.57)
Nikkei 225	8562.86	-30.29	(0.35)	(1.91)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18817.42	16.43	0.09	(1.16)

Infosys

42.46

-0.72

-1.67

(0.96)

Shanghai	2366.384	5.02	0.21	(0.29)

ICICI B

29.28

-0.05

-0.17

2.34

CSI 300	2623.298	8.61	0.33	(0.16)

Wipro

8.68

0.05

0.58

(0.34)

KOSPI	1832.76	8.59	0.47	1.87

Sterlite

6.95

0.17

2.51

(4.40)

Taiwan	7299.38	163.38	2.29	0.34

HDFCB

28.6

-0.17

-0.59

(1.58)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

23.84

0.02

0.08

1.75

SGX Nifty

4989

4.00

0.08

3.19

Tata Com

7.67

0.32

4.35

1.72

Dow Jones	12478	49.00	0.39	(0.10)

DR.Reddy

30.26

0.27

0.90

1.20

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.79

0.04

5.33

5.33

USD-INR X-RATE

55.19

-0.19

0.34

(0.27)

Patni

18.224

0.00

0.02

(1.81)

EUR-INR X-RATE	69.47	-0.18	0.26	1.13	SBI	74.1	3.05	4.29	2.00
INR-JPY X-RATE	1.44	0.01	(0.49)	(0.49)	RIL	25.1	0.35	1.41	(0.59)
BALTIC DRY INDEX	1012	-22.00	(2.13)	-11.3059	L&T	21.35	0.11	0.52	(2.73)

SOURCE:BLOOMBERG

 

    EQUITY MOVERS:

* Balrampur Chini Mills Ltd.: India’s second-largest sugar producer said profit rose to 1.3 billion rupees in the fourth-quarter ended

 March 31 from 1.13 billion rupees a year earlier.

* Bank of India: The lender formed a joint venture with Axa Group for portfolio management and mutual funds.

* Bharati Shipyard Ltd.: The company reported a fourth-quarter loss of 364.9 million rupees, compared with a profit of 382.3 million

 rupees a year earlier.

* Britannia Industries Ltd.: The bakery-products maker reported a fourth-quarter profit of 530.3 million rupees versus 432.5 million

rupees a year earlier.

* Coal India Ltd.: The world’s largest producer of the fuel reported a less-than-expected 5 percent drop in fourth-quarter profit after

 increasing output.

* Engineers India Ltd.: The company posted a fourth- quarter profit of 1.9 billion rupees, compared with 1.65 billion rupees a year earlier.

* Indian Hotels Co: The operator of the Taj Group of hotels posted a fourth-quarter profit of 652.1 million rupees versus 939.3 million

rupees a year earlier.

* McLeod Russel India Ltd. : The tea maker posted a loss of 1.57 billion rupees, compared with a loss of 1.23 billion rupees in the fourth  quarter.

* NMDC Ltd: India’s largest iron-ore producer, reported profit fell 22 percent to 16.4 billion rupees in the fourth-quarter ended March 31,

from 21 billion rupees a year earlier.

* Oil India Ltd.: The state-run explorer, armed with as much as $1.3 billion cash for acquisitions, will consider Chesapeake Energy Corp.’s

“corporate governance issues” before investing in the explorer’s shale assets in the U.S.

* Trent Ltd.: The Indian operator of retail stores posted fourth-quarter net income that more than doubled to 195.3 million rupees.

* Welspun Corp Ltd.: The company won orders for pipes and plates worth 20.7 billion rupees.

 

OTHER NEWS:

* Tata Motors may report a quarterly profit of 38.2 billion rupees ($693 million), according to the median estimate of 40 analysts, compared

 with a profit of 26.4 billion rupees a year earlier.

* Air India Ltd. will receive its first Boeing Co. 787 this week as a pilots’ dispute over who should fly the aircraft triggers cuts in international

services and more than 100 dismissals.

* The world’s biggest consumers of gold are losing their appetite, prompting strategists to predict that India’s current- account deficit

will narrow and bonds will rally.

 

    EARNINGS:

* Tata Motors               - 4Q, Est. 38.2 billion rupees.

* Sun Pharmaceuticals-      - 4Q, Est. 6.65 billion rupees.

 Industries

* Oil and Natural Gas Corp. - 4Q, Est. 44.2 billion rupees.

* Steel Authority of India  - 4Q, Est. 12.7 billion rupees.

* Hindustan Petroleum Corp. - 4Q, Est. 43.5 billion rupees.

* Power Grid Corp. of India - 4Q, Est. 8.46 billion rupees.

* Shree Renuka Sugars       - 1Q, Est. -692 million rupees.

* Shipping Corp. of India   - 4Q, Est. -799 million rupees.

* GMR Infrastructure        - 4Q, Est. -718 million rupees.

* Aurobindo Pharma          - 4Q, Est. 919 million rupees.

* United Spirits            - 4Q, Est. 656 million rupees.

* Welspun Corp              - 4Q, Est. 1.04 billion rupees.

* IPCA Laboratories         - 4Q, Est. 758 million rupees.

* Apollo Hospitals-         - 4Q, Est. 602 million rupees.

 Enterprises

* Praj Industries           - 4Q, Est. 237 million rupees.

* Lanco Infratech           - 4Q, Est. 1.12 billion rupees.

* NCC                       - 4Q, Est. 201 million rupees.

* JBF Industries            - 4Q, Est. 675 million rupees.

* EIH, Jindal Stainless, Everest Kanto Cylinder, ABG Shipyard,

PSL, Hindustan Copper, Godfrey Phillips India, Future Capital

Holdings, Tamil Nadu Newsprint & Papers, Hotel Leela Venture,

Bombay Rayon Fashions, Ess Dee Aluminum.

 

   CONFERENCES/EVENTS:

* 8:30. Mumbai. IAIP organizes Bell Ringing ceremony at the BSE to mark the 50th Anniversary of the CFA Charter with fellow members

across the world. Speakers include Sunil Singhania, president of IAIP, John D. Rogers, CEO of CFA Institute and Ashish Chauhan,

interim CEO of BSE.

* 10:30 a.m. New Delhi. FICCI and Embassy of Mexico organize a seminar on ’Constructive G-20 agenda for the future: Los Cabos

Summit and beyond’. Speakers include Jaime Nualart, ambassador of Mexico; Alok Sheel, joint secretary, ministry of finance, and

R. K. Pachauri, director general of TERI.

* 12 p.m. Mumbai. Lalit Kumar Jain, president of CREDAI, will hold a press conference to discuss reducing the cost of housing and

tackling black money in real estate sector.

* 12 p.m. Balrampur Chini Mills Ltd.’s management will address a conference call to discuss the company’s financial results.

* 1:30 p.m. Bangalore. D. Ravi Kumar, CMD, and Subbu Iyer, CEO of Acropetal Technologies Ltd., will address a conference to discuss

the company’s results.

* 4 p.m. Kolkata. Shakeel Ahmed, CMD of Hindustan Copper Ltd., will hold a press conference.

* 4 p.m. Mumbai. Tata Motors’ management will address a press conference to discuss the company’s annual results for 2011-12.

5:00 p.m. New Delhi. ONGC Chairman Sudhir Vasudeva to address a press conference on fourth quarter and annual earnings at Hotel

Le Meridien.

 

SOURCE:BLOOMBERG

 

 

Regards,

 

Team Microsec Research

 

--
CA. Rajesh Desai

[RAJESH DESAI]

MARKETS

Asian Market is trading higher as Hang Seng was  down by 2.09% while Nikkei 225 were down by 0.98% and Chinese markets were  down by 0.22%. Asian stocks dropped and the euro fell toward its lowest level in almost two years as Spanish borrowing costs rose and China damped speculation of large-scale stimulus to revive economic growth. Overnight U.S. markets were up by 1.01%SGX Nifty at 8:00AM was trading at 4940 with a loss of 30 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex	16438.58	21.74	0.13	3.08	Copper	7603.00	-67.00	-0.87	0.96
Nifty	4990.1	4.45	0.09	3.19	Aluminum	2017.25	0.25	0.01	0.41

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1896.00	-19.00	-0.99	0.90
Dow Jones	12580.69	125.86	1.01	0.61	Nickel	16675.00	125.00	0.76	(0.48)
NASDAQ	2870.99	33.46	1.18	0.84	Lead	1935.00	-11.00	-0.57	0.31
S&P 500	1332.42	14.60	1.11	1.25

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100	5391.14	34.80	0.65	(0.22)	Gold	1548.38	-6.78	-0.44	(0.84)
CAC 40	3084.7	41.73	1.37	0.02	Silver	27.72	-0.14	-0.51	(0.31)
DAX	6396.84	73.65	1.16	(0.60)	NYMEX Crude Oil	90.35	-0.41	-0.45	(1.43)
Nikkei 225	8571.9	-85.18	(0.98)	0.18

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng	18657.92	-397.54	(2.09)	(0.68)	Infosys	43.45	0.99	2.33	1.14
Shanghai	2384.513	-5.12	(0.21)	0.89	ICICI B	30.13	0.85	2.90	2.27
CSI 300	2645.008	-5.85	(0.22)	1.08	Wipro	8.9	0.22	2.53	2.18
KOSPI	1833.16	-16.75	(0.91)	0.24	Sterlite	7	0.05	0.72	(5.02)
Taiwan	7241.72	-100.57	(1.37)	1.31	HDFCB	29.36	0.76	2.66	(1.24)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

23.14	-0.70	-2.94	(5.55)
SGX Nifty	4939.5	-29.50	(0.59)	2.79	Tata Com	7.85	0.18	2.35	6.95
Dow Jones	12527	-56.00	(0.45)	0.40	DR.Reddy	30.34	0.08	0.26	1.17

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.7601	-0.03	-3.78	(2.55)

USD-INR X-RATE

55.19

-0.19

0.34

(0.27)

Patni

18.29	0.07	0.36	(0.87)

EUR-INR X-RATE

69.47

-0.18

0.26

1.13

SBI

75.05	0.95	1.28	5.85

INR-JPY X-RATE

1.44

0.01

(0.49)

(0.49)

RIL

25.05	-0.05	-0.20	0.56

BALTIC DRY INDEX

1012

-22.00

(2.13)

-11.3059

L&T

21.6

0.25

1.17

2.37

SOURCE:BLOOMBERG

 

EQUITY MOVERS:

* Kingfisher Airlines Ltd.: The Indian carrier struggling with losses said India’s income tax department had attached two accounts on

 May 24. The attachment of the two accounts should be lifted yesterday. An income tax tribunal set aside the entire demand

against the company on May 25 and Kingfisher has no dues to pay.

* Oil & Natural Gas Corp.: India’s biggest energy explorer doubled profit in the fourth quarter, beating estimates, after crude oil prices

gained. Net income rose to 56.4 billion rupees ($1 billion) in the three months ended March 31 from 27.9 billion rupees a year earlier.

* Shipping Corp. of India: The nation’s largest sea-cargo carrier said fourth-quarter loss widened to 3.55 billion rupees from 61.7 million

 rupees in the same period last year.

* Shree Renuka Sugars Ltd.: The nation’s biggest shipper of the sweetener reported a profit 55 million rupees in the three months ended

 March 31, compared with 292 million rupees a year ago.

 * State Bank of India: The nation’s largest lender may raise $1 billion via medium-term notes, Chairman Pratip Chaudhuri said yesterday in

 Chennai. The sale of notes may begin by August.

* Steel Authority of India Ltd.: The nation’s second-biggest steel producer reported an unexpected 3 percent increase in fourth-quarter

profit after alloy prices rose and raw material costs fell. Net income rose to 15.8 billion rupees in the three months ended March 31, from

15.3 billion rupees a year ago.

* Sun Pharmaceutical Industries Ltd.: The Indian drugmaker reported fourth-quarter net income rose to 8.2 billion rupees from 4.43 billion

rupees last year.

* Tamil Nadu Newsprint & Papers Ltd.: The Indian maker of newsprint and writing paper said fourth quarter profit rose to 204.5 million rupees

 from 195.5 million rupees a year.

* Tata Motors Ltd.: India’s biggest automaker posted profit that beat analysts’ estimates on demand for the Evoque compact sport utility

vehicle made by its Jaguar Land Rover luxury unit and a one-time tax credit. Net income more than doubled to a record 62.3 billion rupees in

the three months ended March 31, the company.

 

OTHER NEWS:

* The median of 24 analyst estimates compiled by Bloomberg is 6.17 billion rupees ($111 million). Mahindra posted a profit of 6.07 billion

rupees a year earlier.

* The Indian rupee’s tumble to a record low may help Bharat Heavy Electricals Ltd., the nation’s biggest power-equipment maker, regain

market share from Chinese rivals as the weaker currency pushes up import costs for generators.

* Borrowing costs for Indian companies are rising at the fastest pace this year as inflation quickens and the central bank’s efforts to curb

Asia’s worst currency loss drains cash from the financial system.

* India approved 25 foreign direct investment proposals valued at 29.7 billion rupees including Plethico  Pharma’s worth 5 billion rupees, the

 finance ministry .

* U.S. Defense Secretary Leon Panetta begins a two days visit to the Asia-Pacific, part of the Obama administration’s plans to focus attention

on the region where China’s military build-up and disputes in the South China Sea are causing concern. Panetta will get a briefing from

U.S. Pacific Command Commander Admiral Sam Locklear in Honolulu, followed by a speech in Singapore at the Shangri-La Dialogue, an annual

regional defense and security forum. Panetta is scheduled to meet in Singapore with defense chiefs from Japan, South Korea, Australia and

 the host nation, according to the Pentagon, after which he will visit Vietnam and India.

  

 EARNINGS:

* Mahindra & Mahindra       - 4Q, Est. 6.17 billion rupees.

* DLF                       - 4Q, Est. 2.73 billion rupees.

* GAIL (India)              - 4Q, Est. 8.27 billion rupees.

* Tata Chemicals            - 4Q, Est. 2.08 billion rupees.

* Colgate Palmolive (India) - 4Q, Est. 1.24 billion rupees.

* Jaiprakash Associates     - 4Q, Est. 2.25 billion rupees.

* Housing Development and   - 4Q, Est. 1.56 billion rupees.

 Infrastructure

* Aban Offshore             - 4Q, Est. 817 million rupees.

* BGR Energy Systems        - 4Q, Est. 599 million rupees.

* Gujarat Industries Power  - 4Q, Est. 267 million rupees.

* PTC India                 - 4Q, Est. 132 million rupees.

* Jindal saw                - 4Q, Est. 975 million rupees.

* Essar Ports               - 4Q, Est. 420 million rupees.

* Havells India             - 4Q, Est. 903 million rupees.

* S. Kumars Nationwide      - 4Q, Est. 1.05 billion rupees.

* Educomp Solutions         - 4Q, Est. 706 million rupees.

* Page Industries           - 4Q, Est. 169 million rupees.

* BEML, Berger Paints, Rashtriya Chemicals and Fertilizers,

Pipavav Defence and Offshore Engineering Co., GHCL, Parsvnath

Developers, Kingfisher Airlines, Dhanlaxmi Bank, Lakshmi Vilas

Bank, Financial Technologies, Simplex Infrastructures, United

Breweries, NESCO, Godrej Industries, Gijarat State Fertilizers &

Chemicals, Gujarat Narmada Valley Fertilizer Co., Shriram EPC,

State Trading Corp. of India, Transport Corp. of India, Nahar

Spinning Mills, Gulf Oil Corp.

 

   Sharholders Meet:

* Bata India Ltd. - 10:30 a.m. Kolkata. Chairman Uday Khanna will address the 79th annual shareholders meeting.

 

   IPOs Listings:

* Speciality Restaurants Ltd. makes its trading debut todayafter it received investor demand of 2.5 times the shares offered in an

 initial public offering this month.

 

    BOND SALES:

* 3 p.m. India to sell 100 billion rupees of 91-day bills.

* 3 p.m. India to sell 50 billion rupees of 364-day bills.

 

      CONFERENCES/EVENTS:        

* 9:25 a.m. Mumbai. Anjan Chatterjee, managing director of Speciality Restaurants Ltd. will address the listing ceremony of equity shares

of the company.

* 10 a.m. Mumbai. Ashwani Kumar, minister of state for planning, science & technology, will inaugurate Citigroup’s 7th India Investor

Conference on ’India - Vision for the Future.’ Speakers include from Citigroup India- Surendra Goyal, head of research, Aditya Narain,

India strategist and Chief Economist Rohini Malkani.

* 11:15 a.m. New Delhi. Finance Minister Pranab Mukherjee will inaugurate Pratyaksh Kar Bhawan, a new office of the Income Tax

Department.

* 11:15 a.m. New Delhi. Ahmad Chatila, president and CEO of MEMC, Pashupathy Gopalan, MD-South Asia and Sub-Saharan Africa

Operations of SunEdison, and Jyotiraditya M. Scindia, India’s minister of state for commerce & industry, will inaugurate a program called

“Eradication of Darkness.”

* 12 p.m. Mumbai. Rupa Devi Singh, MD of PXIL, and Vikalp Mundra, founder of M&B Switchgears Ltd., will hold a press conference to

announce first sell bid of solar REC on PXIL.

* 12:30 p.m. Mumbai. R.N. Naik, chairman of Power grid Corp. of India, will hold a press conference on annual results and its growth plans.

* 2:30. Pramod Chaudhari, chairman, and Gajanan Nabar, CEO & MD of Praj Industries Ltd., will hold an earnings conference call.

* 3 p.m. Mumbai. R.Mukundan, managing director, and P.K. Ghosh, CFO of Tata Chemicals Ltd., will hold a press conference to discuss its earnings.

 

SOURCE:BLOOMBERG

 

Regards,

 

Team Microsec Research

 

 

--
CA. Rajesh Desai