MORNING NOTE

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RAJESH DESAI

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May 11, 2012, 12:04:38 AM5/11/12
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MARKETS

Asian Market is trading mixed as Hang Seng was down by 0.90% while Nikkei 225 was up by 0.03% and Chinese markets were  up by 0.10%. Hong Kong stocks fell as oil producers slid on lower crude prices and developers dropped on concern property curbs will remain, overshadowing optimism China will ease monetary policy after its inflation moderated. Overnight U.S. markets were up by 0.15%. SGX Nifty at 8:00AM was trading at 4939  with a loss of 25 points.

 

MARKET STATS AT 8:00AM

Domestic Indices

Last Price

CH

% CH

% CH 5D

N-Ferrous Metals

Last Price

CH

% CH

% CH 5D

Sensex

16420.05

-59.53

(0.36)

(4.26)

Copper

8086.25

-18.75

-0.23

(1.73)

Nifty

4965.7

-9.10

(0.18)

(2.38)

Aluminum

2044.00

-1.50

-0.07

(2.20)

Global Indices

Last Price

CH

% CH

% CH 5D

Zinc

1956.00

-13.00

-0.66

(1.39)

Dow Jones

12855.04

19.98

0.16

(2.66)

Nickel

17222.00

52.00

0.30

(0.36)

NASDAQ

2933.64

-1.07

(0.04)

(3.00)

Lead

2084.75

-15.25

-0.73

(0.28)

S&P 500

1357.99

3.41

0.25

(2.41)

Bullion & Crude Oil

Last Price

CH

% CH

% CH 5D

FTSE 100

5543.95

13.90

0.25

(3.72)

Gold

1586.88

-7.15

-0.45

(3.37)

CAC 40

3130.17

11.52

0.37

(2.89)

Silver

28.87

-0.19

-0.65

(4.92)

DAX

6518

42.69

0.66

(2.64)

NYMEX Crude Oil

96.00

-1.08

-1.11

(2.53)

Nikkei 225

9012.47

2.82

0.03

(3.92)

ADR/GDR

Last Price

CH

% CH

% CH 5D

Hang Seng

20045.73

-181.55

(0.90)

(4.93)

Infosys

44.46

0.04

0.09

(4.84)

Shanghai

2412.623

2.39

0.10

(1.61)

ICICI B

30.76

0.33

1.08

(3.30)

CSI 300

2660.412

3.20

0.12

(2.04)

Wipro

9.2

0.07

0.77

(3.56)

KOSPI

1925.12

-19.81

(1.02)

(3.22)

Sterlite

7.27

0.02

0.28

(7.62)

Taiwan

7406.76

-77.25

(1.03)

(3.82)

HDFCB

31.6

0.26

0.83

(4.10)

Indices Future

Last Price

CH

% CH

% CH 5D

Tata Mo

27.16

0.00

0.00

(3.72)

SGX Nifty

4939

-26.00

(0.52)

(2.74)

Tata Com

7.98

0.02

0.25

(7.10)

Dow Jones

12766

-68.00

(0.53)

(1.47)

DR.Reddy

31.91

0.36

1.14

(2.12)

Currencies & Freight

Last Price

CH

% CH

% CH 5D

MTNL

0.8235

0.02

2.30

(7.34)

USD-INR X-RATE

53.43

-0.40

0.75

(0.02)

Patni

19.02

0.07

0.37

0.11

EUR-INR X-RATE

69.10

-0.72

1.04

1.56

SBI

70.8

0.45

0.64

(12.54)

INR-JPY X-RATE

1.49

-0.01

0.40

0.13

RIL

26.2

0.44

1.71

(6.50)

BALTIC DRY INDEX

1146

-10.00

(0.87)

-0.95073

L&T

21.64

0.14

0.65

(6.12)

SOURCE:BLOOMBERG

 

    ECONOMY:

* 11 a.m. India Industrial production for March. Est. 1.7%.

 

EQUITY MOVERS:

* Aptech Ltd.: Investor Rakesh Jhunjhunwala  bought about 1.1 million shares in the computer training company on May

10, and the Royal Bank of Scotland NV sold 978,500 shares.

* Axis Bank Ltd.: The Nordic Investment Bank, owned by the five Nordic and three Baltic governments, is lending $50

million to Axis Bank to invest in a company that plans to build 300 megawatts of wind farms, according to a statement yesterday

on the website of the Nordic Bank.

* Cipla Ltd.: India’s third biggest drugmaker reported fourth-quarter profit rose 36 percent to 2.92 billion rupees from a year earlier.

* Kingfisher Airlines Ltd: The carrier cancelled flights after some pilots in New Delhi reported sick.

* Mahindra & Mahindra Ltd.: India’s largest maker of sport-utility vehicles said in an e-mailed statement that operations at its Nashik

plant resumed on May 9 after a fire was contained.

* Sintex Industries Ltd. : The Indian engineering company reported fourth-quarter profit fell to 912.3 million rupees from 1.68 billion

 rupees last year.

* Suzlon Energy Ltd. :RWE AG, Germany’s second-biggest utility, will build a 60 million euro ($77 Million) wind farm in Poland using

turbines made by Suzlon’s Repower Systems SE unit.

 

OTHER NEWS:

* Indian central bank Governor Duvvuri Subbarao’s third policy change in a week to support the rupee is luring global investors back

to the bond market for the first time since February.

* The government has decided to postpone the insurance amendment bill as overseas investment in Indian insurers is already at

26%, Finance Minister Pranab Mukherjee said yesterday.

* A five-judge panel headed by Chief Justice S.H. Kapadia will hear a presidential reference on its Feb. 2 order canceling 122

mobile-phone licenses. The government invoked a constitutional provision under which President Pratibha Devisingh Patil can ask

the Supreme Court to clarify some parts of its judgment.

* India’s cabinet approved the Micro Finance Institutions (Development and Regulation) Bill, which makes it necessary for all micro

 lenders to register with the central bank, create a reserve fund from profits, and audit their results yearly.

* Goldman Sachs has been highlighting concerns about India’s current-account deficit for some time now, and the recent flare-up in

euro-area worries poses further near-term risks to INR.

 

    EARNINGS:

* Dr. Reddy’s Laboratories     - 4Q, Est. 4.59 billion rupees.

* Oracle Financial Services    - 4Q, Est. 2.73 billion rupees.

* Federal Bank                 - 4Q, Est. 2.00 billion rupees.

* ICRA                         - 4Q, Est. 171 million rupees.

* Thermax                      - 4Q, Est. 1.16 billion rupees.

* Greaves Cotton               - 4Q, Est. 447 million rupees.

* Torrent Power                - 4Q, Est. 2.46 billion rupees.

* Indian Bank                  - 4Q, Est. 5.00 billion rupees.

* Astrazeneca Pharma India, Mahanagar Telephone Nigam, Balaji

Telefilms, Moser-Baer (I), Graphite India, Hathway Cable &

Datacom.

 

    BOND SALES:

* India to sell 40 billion rupees ($750 million) of 8.24 percent 2018 bonds.

* India to sell 70 billion rupees of 8.79 percent 2021 bonds.

* India to sell 20 billion rupees of 8.28 percent 2027 bonds.

* India to sell 20 billion rupees of 8.33 percent 2036 bonds.

 

      CONFERENCES/EVENTS:

* 11:30 a.m. Bangalore. RBI Deputy Governor Subir Gokarn will address the southern regional council of CII.

* 12 p.m. New Delhi. Tetsuya Takano, managing director of Ricoh India Ltd. will hold a press conference to announce expansion plans.

* 3 p.m. Chennai. K.M. Cherian, Founder and chief executive officer of Frontier Lifeline Hospital will hold a press conference

 to announce the “First Public Private Partnership in Healthcare and Life Sciences in Tamilnadu” and share investment details on Frontier Mediville.

* 3:15 p.m. New Delhi. India Energy Forum to organize a meeting with John Pitre of National Power Concepts USA to discuss

the ONGC Energy Centre. Speakers include P.S. Bami, president of India Energy Forum, D.M. Kale, director general of ONGC, and

V.Subramanian, secretary general of INWEA.

* 4:30 p.m. New Delhi. Virtuos Solutions Pvt. organizes Virtuos Customer Experience (CX) Meet 2012 and announce CX awards. Speakers

include Rajnish Kapur, chief innovation & customer experience officer of Makemytrip.com, Satish Udupi, vice president - IT of Flipkart

and Ritesh Banglani, director of Helion Ventures.

* 6:30 p.m. New Delhi. VARIndia organizes the 10th IT Forum 2012. Speakers include Ramesh Chandra Misra, secretary of ministry of

personnel of India, and R.S. Sharma, director general, UIDAI of India.

 

 

SOURCE:BLOOMBERG

 

 

Regards,

 

Team Microsec Research

 

Microsec

 

 

Microsec Capital Limited

Tel: 91 33 30512100

Fax: 91 33 30512020




--
CA. Rajesh Desai

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