MORNING NOTE
RAJESH DESAI
MARKETS
Asian Market is trading lower as Hang Seng was down by 0.13% while Nikkei 225 was down by 1.22% and Chinese markets were down by 0.60%. Asian stocks, oil and copper fell, while bond risk climbed after Pacific Investment Management Co. said China faces slower growth ahead of a report that may show Europe’s economy shrank for the first time since 2009. The euro traded near an almost four-month low. Overnight U.S. markets were down by 1.00%. SGX Nifty at 8:00AM was trading at 4838 with a loss of 40 points.
MARKET STATS AT 8:00AM
|
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
|
Sensex |
16215.84 |
-77.14 |
(0.47) |
(4.12) |
Copper |
7805.00 |
-35.00 |
-0.45 |
(3.58) |
|
Nifty |
4907.8 |
-21.10 |
(0.43) |
(4.03) |
Aluminum |
2024.50 |
-0.50 |
-0.02 |
(1.58) |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
1916.00 |
-4.00 |
-0.21 |
(2.99) |
|
Dow Jones |
12695.35 |
-125.25 |
(0.98) |
(2.41) |
Nickel |
16900.00 |
25.00 |
0.15 |
(2.62) |
|
NASDAQ |
2902.58 |
-31.24 |
(1.06) |
(1.87) |
Lead |
2034.00 |
-2.00 |
-0.10 |
(2.68) |
|
S&P 500 |
1338.35 |
-15.04 |
(1.11) |
(2.28) |
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5465.52 |
-110.00 |
(1.97) |
(3.35) |
Gold |
1554.83 |
-1.90 |
-0.12 |
(3.15) |
|
CAC 40 |
3057.99 |
-71.78 |
(2.29) |
(4.86) |
Silver |
28.10 |
-0.05 |
-0.16 |
(4.54) |
|
DAX |
6451.97 |
-127.96 |
(1.94) |
(1.79) |
NYMEX Crude Oil |
94.28 |
-0.50 |
-0.53 |
(2.81) |
|
Nikkei 225 |
8864.65 |
-109.19 |
(1.22) |
(3.45) |
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
19709.19 |
-25.85 |
(0.13) |
(3.79) |
Infosys |
43.3 |
-0.43 |
-0.98 |
(3.46) |
|
Shanghai |
2366.277 |
-14.45 |
(0.61) |
(3.37) |
ICICI B |
29.46 |
-1.25 |
-4.07 |
(6.89) |
|
CSI 300 |
2604.368 |
-11.17 |
(0.43) |
(3.87) |
Wipro |
9.01 |
-0.09 |
-0.99 |
(2.38) |
|
KOSPI |
1888.29 |
-25.44 |
(1.33) |
(4.00) |
Sterlite |
7.03 |
-0.20 |
-2.77 |
(9.17) |
|
Taiwan |
7337.11 |
-40.07 |
(0.54) |
(2.76) |
HDFCB |
30.41 |
-0.81 |
-2.59 |
(7.34) |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
26.79 |
-0.76 |
-2.76 |
(6.75) |
|
SGX Nifty |
4838 |
-39.00 |
(0.80) |
(2.95) |
Tata Com |
7.8 |
-0.22 |
-2.74 |
(9.62) |
|
Dow Jones |
12676 |
21.00 |
0.17 |
(1.48) |
DR.Reddy |
30.47 |
-0.13 |
-0.42 |
(5.96) |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.807 |
0.00 |
-0.37 |
(7.51) |
|
USD-INR X-RATE |
53.96 |
0.32 |
(0.60) |
(1.93) |
Patni |
19 |
-0.06 |
-0.31 |
(0.73) |
|
EUR-INR X-RATE |
69.45 |
0.08 |
(0.11) |
(0.68) |
SBI |
68.4 |
-2.20 |
-3.12 |
(8.74) |
|
INR-JPY X-RATE |
1.48 |
0.00 |
0.14 |
1.22 |
RIL |
25.37 |
-0.82 |
-3.13 |
(5.16) |
|
BALTIC DRY INDEX |
1132 |
-6.00 |
(0.53) |
#N/A N/A |
L&T |
21.93 |
0.25 |
1.15 |
2.43 |
SOURCE:BLOOMBERG
EQUITY MOVERS:
* Alstom T&D India Ltd.: The Indian unit of the world’s biggest supplier of nuclear services reported a profit of 454.2 million rupees in
the three months ended March 31, compared with 287.8 million rupees a year earlier.
* Ashok Leyland Ltd. : India’s second-biggest maker of trucks reported fourth-quarter profit of 2.69 billion rupees, down from 2.98 billion
rupees a year earlier.
* Eicher Motors Ltd. : The automobile company reported a profit of 453.3 million rupees in the quarter ended March 31, compared with
144.8 million rupees a year earlier.
* Housing Development Finance Ltd. plans to sell 2 billion rupees of bonds maturing in 366 days.
* Lupin Ltd. and Torrent Pharmaceuticals Ltd.: Novartis AG sued the two Indian drug companies for infringing patents on its Exforge HCT
blood-pressure medicine
* SREI Infrastructure Finance Ltd. expects disbursements in the year starting April 1 to grow by as much as 30 percent from 186 billion rupees
the previous year.
* Uflex Ltd. India’s biggest maker of plastic- packaging materials reported profit in the quarter ended March 31 fell to 509.5 million rupees
from 1.81 billion rupees a year earlier.
OTHER NEWS:
* The largest price swings among Asian currencies have prevented India’s exporters from taking advantage of the weakening rupee,
worsening the nation’s trade deficit and damping investor enthusiasm for its bonds.
* Air India pilots are willing to meet the management to resolve a strike, Indian Pilots’ Guild. The pilots’ union has submitted documents regarding
issues at hand to the civil aviation minister.
* Northern Iron Ltd., an iron-ore producer with assets in Norway, rejected an initial takeover offer of as much as A$477 million ($476 million)
from Aditya Birla Group, saying it doesn’t reflect the value of the company.
EARNINGS:
* Cummins India - 4Q, Est. 1.44 billion rupees.
* Unitech - 4Q, Est. 787 million rupees.
* Shree Cements - 4Q, Est. 1.07 billion rupees.
* Gammon India - 4Q, Est. 272 million rupees.
* Dishman Pharmaceuticals - 4Q, Est. 224 million rupees.
and Chemicals
* Pantaloon Retail (India) - 3Q, Est. 221 million rupees.
* Aditya Birla Nuvo, Videocon Industries, MMTC, India Infoline,
Deccan Chronicle Holdings, Essel Propack, Firstsource Solutions,
Varun Shipping Co., Elder Pharmaceuticals, Shiv-Vani Oil & Gas
Exploration Services, Reliance Mediaworks, C. Mahendra Exports,
Emco, Assam Company India, Karuturi Global, Atul.
IPOs:
* Plastene India Ltd.’s offering closes today. The share sale was subscribed 0.28 times at yesterday’s close.
CONFERENCES/EVENTS:
* 10 a.m. New Delhi. Daniel Chien, in-charge of sales for South East Asia at Garmin Corp., a unit of Garmin Ltd., will hold a press conference
to introduce new devices and share their India plans.
* 10 a.m. New Delhi. Keita Muramatsu, president of Honda Motorcycle & Scooter India Pvt. will introduce the company’s first mass motorcycle.
* 11:30 a.m. New Delhi. Peter Honegg, managing director of Mercedes-Benz India will hold a press conference to introduce the new
Mercedes-Benz M-Class.
* 12:30 p.m. Mumbai. Kedar Rajadnye, president, consumer products at Piramal Healthcare Ltd., will hold a press conference to discuss
the latest developments in the premium products and consumer products divisions and its future plans.
* 12:30 p.m. Kolkata. Anjan Chatterjee, managing director of Speciality Restaurants Ltd. will hold a press conference regarding its IPO.
* 4 p.m. Mumbai. Rakesh Jain, managing director, and Sushil Agarwal, chief financial officer of Aditya Birla Nuvo Ltd., will hold a press
conference on the company’s performance for the 4th Quarter and financial year 2011-12.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
--
CA. Rajesh Desai
RAJESH DESAI
MARKETS
Asian Market is trading higher as Hang Seng was up by 0.50% while Nikkei 225 was down by 0.20% and Chinese markets were up by 0.15%. Asian stocks rebounded from a four-month low, oil rose and the Australian dollar strengthened after economic data in the U.S., Japan and Singapore beat estimates. Gold and copper advanced. Overnight U.S. markets were down by 0.25%. SGX Nifty at 8:00AM was trading at 4868 with a gain 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 |
16030.09 |
-298.16 |
(1.83) |
(2.73) |
Copper |
7705.00 |
55.00 |
0.72 |
(4.94) |
|
Nifty |
4858.25 |
-84.55 |
(1.71) |
(2.16) |
Aluminum |
2040.50 |
5.50 |
0.27 |
(0.24) |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
|
1911.00 |
13.00 |
0.68 |
(2.95) |
||||||
|
Dow Jones |
12598.55 |
-33.45 |
(0.26) |
(1.84) |
Nickel |
16970.00 |
-35.00 |
-0.21 |
(1.16) |
|
NASDAQ |
2874.04 |
-19.72 |
(0.68) |
(2.07) |
Lead |
1980.00 |
9.00 |
0.46 |
(5.71) |
|
S&P 500 |
1324.8 |
-5.86 |
(0.44) |
(2.20) |
|
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5405.25 |
-32.37 |
(0.60) |
(2.26) |
Gold |
1547.13 |
7.55 |
0.49 |
(2.94) |
|
CAC 40 |
3048.67 |
9.40 |
0.31 |
(2.24) |
Silver |
27.57 |
0.35 |
1.30 |
(5.14) |
|
DAX |
6384.26 |
-16.80 |
(0.26) |
(1.41) |
NYMEX Crude Oil |
93.16 |
0.35 |
0.38 |
(4.04) |
|
Nikkei 225 |
8783.25 |
-17.92 |
(0.20) |
(2.51) |
|
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
19356.92 |
97.09 |
0.50 |
(4.30) |
Infosys |
43.41 |
-0.68 |
-1.54 |
(2.27) |
|
Shanghai |
2349.689 |
3.50 |
0.15 |
(2.51) |
ICICI B |
28.93 |
-0.68 |
-2.30 |
(4.93) |
|
CSI 300 |
2579.414 |
4.77 |
0.19 |
(2.93) |
Wipro |
8.79 |
-0.29 |
-3.19 |
(3.72) |
|
KOSPI |
1846.9 |
6.37 |
0.35 |
(5.04) |
Sterlite |
7.18 |
0.11 |
1.56 |
(0.97) |
|
Taiwan |
7301.25 |
66.68 |
0.92 |
(2.44) |
HDFCB |
29.45 |
-0.90 |
-2.97 |
(6.03) |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
|
24.38 |
-1.81 |
-6.91 |
(10.24) |
||||||
|
SGX Nifty |
4868.5 |
24.00 |
0.50 |
(1.94) |
Tata Com |
7.54 |
-0.35 |
-4.44 |
(5.28) |
|
Dow Jones |
12620 |
46.00 |
0.37 |
(1.67) |
DR.Reddy |
30.51 |
0.36 |
1.19 |
(3.30) |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
|
0.77 |
-0.02 |
-2.53 |
(4.35) |
||||||
|
USD-INR X-RATE |
54.50 |
0.70 |
(1.28) |
(1.22) |
Patni |
18.54 |
-0.38 |
-2.01 |
(2.16) |
|
EUR-INR X-RATE |
69.32 |
0.21 |
(0.30) |
0.73 |
SBI |
68 |
-1.50 |
-2.16 |
(3.34) |
|
INR-JPY X-RATE |
1.48 |
0.01 |
(0.34) |
1.35 |
RIL |
25.05 |
-0.41 |
-1.61 |
(2.76) |
|
BALTIC DRY INDEX |
1137 |
7.00 |
0.62 |
-1.6436 |
L&T |
22.29 |
-0.31 |
-1.37 |
3.67 |
SOURCE:BLOOMBERG
EQUITY MOVERS:
* Bajaj Finserv Ltd.: The Indian financial services company reported fourth-quarter profit of 8.81 billion rupees, compared
with 8.73 billion rupees a year earlier. The company’s board also approved raising 10 billion rupees.
* Indowind Energy Ltd.: The company which sells wind power in India to companies including Oracle Corp. and Citibank
Inc. plans to raise $30 million to help pay off loans and bondholders. The company may raise the money through external
commercial borrowings to meet a “gap in funding,”.
* JK Lakshmi Cement Ltd.: The cement maker reported a 5.2 percent decline in fourth-quarter profit to 303 million rupees.
* Piramal Healthcare Ltd. The drugmaker controlled by billionaire Ajay Piramal agreed to buy Decision Resources Group LLC,
a health-care research provider, for $635 million.
OTHER NEWS:
* Bajaj Auto may report a net income of 7.88 billion rupees in the quarter ended March 31, according to the median of 47
analysts’ estimates compiled by Bloomberg.
* Indian companies’ dollar borrowing costs have surged to a three-month high as policy makers’ inability to cool inflation
erodes investor confidence.
* SKS Microfinance Ltd., India’s largest publicly traded lender to the poor, says proposed legislation will spur a revival by
easing loan recovery just as mounting losses force it to curtail operations.
* Oil & Natural Gas Corp. of India and competitors may drill for at least four years before producing the first commercial shale
gas in the nation. ONGC, India’s biggest explorer, is studying data for shale-gas deposits and awaiting a government policy on
commercial drilling for gas trapped in shale rock.
EARNINGS:
* Bajaj Auto - 4Q, Est. 7.88 billion rupees.
* Satyam Computer Services - 4Q, Est. 2.20 billion rupees.
* Jaypee Infratech - 4Q, Est. 2.98 billion rupees.
* Jaiprakash Power Ventures - 4Q, Est. 248 million rupees.
* Peninsula Land - 4Q, Est. 514 million rupees.
* United Breweries - 4Q, Est. 534 million rupees.
* Bajaj Holdings & Investment, Asahi India Glass, Wire and
Wireless (India), PTC India Financial Services.
CONFERENCES/EVENTS:
* 9 a.m. Mumbai. Retail Technology Conclave ReTechCon 2012 on ’Technology- Enabling Retail, Delivering Value’ for two days on
May 17-18. Speakers include C.P. Toshniwal, chief financial officer of Future group; Arun Gupta, group CIO of Shoppers’ Stop
Ltd., and Vikram Idnani, CIO of Trent Ltd.
* 11:30 a.m. New Delhi. Castrol India Ltd. will organize a press conference with its brand ambassador John Abraham.
* 11:30 a.m. Kolkata. Rajesh Aggarwal, managing director of Insecticides (India) Ltd. will hold a press conference to announce
a tie-up with American Vanguard Corp. and Nissan Chemical Industries Ltd. and introduce two new products.
* 11:30 a.m. Chennai. S. Sridhar, chief executive officer of Escorts Agri Machinery will hold a press conference to announce
India’s First Executive Tractor.
* 3:30 p.m. New Delhi. Sachin Pilot, minister of state for communications & IT, will address the inaugural session of a panel
discussion on “Empowerment of Women in Information and Communication Technologies (ICT)” organized by PHD Chamber of
Commerce & Industry.
* 4 p.m. Rashesh Shah, chairman of Edelweiss Financial Services Ltd. will hold a conference call to discuss FY12 results
followed by a question and answer session.
* 4:15 p.m. New Delhi. Junior trade minister Jyotiraditya Scindia will present awards to exporters.
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 2.22% while Nikkei 225 was down by 2.32% and Chinese markets were down by 0.70%. Asian stocks fell, erasing this year’s gains, and South Korea’s won weakened on signs that Europe’s debt crisis is worsening and after an unexpected contraction in a U.S. manufacturing gauge. Japan’s 10-year bond yield dropped, matching the lowest level since October 2010. Overnight U.S. markets were down by 1.24%. SGX Nifty at 8:00AM was trading at 4765 with a loss of 77 points.
MARKET STATS AT 8:00AM
|
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
|
Sensex |
16070.48 |
40.39 |
0.25 |
(2.13) |
Copper |
7675.00 |
26.00 |
0.34 |
(4.22) |
|
Nifty |
4870.2 |
11.95 |
0.24 |
(1.19) |
Aluminum |
2052.00 |
-2.00 |
-0.10 |
0.34 |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
|
1904.50 |
4.25 |
0.22 |
(2.23) |
||||||
|
Dow Jones |
12442.49 |
-156.06 |
(1.24) |
(3.21) |
Nickel |
17060.00 |
-135.00 |
-0.79 |
(0.79) |
|
NASDAQ |
2813.69 |
-60.35 |
(2.10) |
(4.09) |
Lead |
1945.00 |
18.50 |
0.96 |
(6.13) |
|
S&P 500 |
1304.86 |
-19.94 |
(1.51) |
(3.91) |
|
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5338.38 |
-66.87 |
(1.24) |
(3.71) |
Gold |
1575.88 |
1.60 |
0.10 |
(0.22) |
|
CAC 40 |
3011.99 |
-36.68 |
(1.20) |
(3.78) |
Silver |
28.07 |
0.03 |
0.11 |
(2.91) |
|
DAX |
6308.96 |
-75.30 |
(1.18) |
(3.21) |
NYMEX Crude Oil |
92.58 |
0.02 |
0.02 |
(3.69) |
|
Nikkei 225 |
8670.47 |
-206.12 |
(2.32) |
(3.16) |
|
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
18774.42 |
-426.51 |
(2.22) |
(5.96) |
Infosys |
42.48 |
-0.93 |
-2.14 |
(4.45) |
|
Shanghai |
2362.083 |
-16.80 |
(0.71) |
(1.37) |
ICICI B |
28.41 |
-0.52 |
-1.80 |
(7.64) |
|
CSI 300 |
2596.449 |
-17.49 |
(0.67) |
(1.53) |
Wipro |
8.74 |
-0.05 |
-0.57 |
(5.00) |
|
KOSPI |
1801.76 |
-43.48 |
(2.36) |
(6.02) |
Sterlite |
7.08 |
-0.10 |
-1.39 |
(2.61) |
|
Taiwan |
7200.79 |
-155.98 |
(2.12) |
(2.71) |
HDFCB |
28.66 |
-0.79 |
-2.68 |
(9.30) |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
|
24.12 |
-0.26 |
-1.07 |
(11.19) |
||||||
|
SGX Nifty |
4765 |
-77.00 |
(1.59) |
(3.09) |
Tata Com |
7.57 |
0.03 |
0.40 |
(5.14) |
|
Dow Jones |
12425 |
12.00 |
0.10 |
(2.84) |
DR.Reddy |
30.15 |
-0.36 |
-1.18 |
(5.52) |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
|
0.75 |
-0.02 |
-2.60 |
(8.93) |
||||||
|
USD-INR X-RATE |
54.49 |
-0.01 |
0.02 |
(1.95) |
Patni |
18.59 |
0.05 |
0.27 |
(2.26) |
|
EUR-INR X-RATE |
69.04 |
-0.28 |
0.40 |
0.09 |
SBI |
67.9 |
-0.10 |
-0.15 |
(4.10) |
|
INR-JPY X-RATE |
1.46 |
0.00 |
0.00 |
2.40 |
RIL |
24.9 |
-0.15 |
-0.60 |
(4.96) |
|
BALTIC DRY INDEX |
1137 |
0.00 |
0.00 |
-0.78534 |
L&T |
21.35 |
-0.94 |
-4.22 |
(1.34) |
SOURCE:BLOOMBERG
ECONOMY:
* India will report consumer price inflation for April.
EQUITY MOVERS:
* Jaypee Infratech Ltd. : The Indian construction- company posted a 40 percent increase in fourth-quarter profit to 3.49 billion rupees.
* Kingfisher Airlines Ltd.: The carrier’s market share in April slipped to 5.4 percent, from 6.4 percent in March, according to data by
India’s Directorate General of Civil Aviation.
* Koutons Retail India Ltd: The apparel maker’s board approved a decision to raise $200 million by way of a share or bond sale.
* Satyam Computer Services Ltd.: The Indian software company posted a profit of 5.34 billion rupees for the fourth quarter, compared
with a loss of 3.27 billion rupees in the same period last year.
* State Bank of India: India’s biggest lender will lend 14 billion rupees to Damodar Valley Corp., and its associate banks will lend 10 billion
rupees to part-fund its 500 MW Bokaro thermal power station.
OTHER NEWS:
* Tata Steel may report a group profit of 8.81 billion rupees ($162.2 million) in the three months ended March 31 from 41.76billion
rupees a year earlier.
* Sterling Biotech Ltd., India’s biggest gelatin maker, failed to pay $184 million of convertible debt that’s come due, raising investor
concern that more companies will renege on obligations during a record year for bond maturities.
* Bharat Petroleum Corp. is the best-performing energy stock on the MSCI AC Asia Pacific Index this year and analysts say its foray
into exploration in Africa to counter refining losses may mean there’s more growth to come.
* India plans to export 4 million metric tons of wheat from government stockpiles to make room for a record harvest.
* Indian legislators said proposed laws on purchases of land by the government should be tightened to rule out any acquisition on
behalf of private companies.
* A panel of judges of the Delhi High Court declared a strike by Air India pilots as illegal and allowed Air India to file proceedings against
the striking pilots.
* India, the world’s second-biggest sugar producer, will consider curbing exports once shipments reach 4 million metric tons.
* Chinese dealers are struggling with the rising number of unsold cars that’s threatening to deepen price cuts.
* Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA, Spain’s biggest lenders, were cut three levels by Moody’s Investors
Service, which cited a recession and mounting loan losses in downgrading 16 of the nation’s banks. Nine firms were cut three notches
and seven were kept on review for further reductions.
EARNINGS:
* Coal India - 4Q, Est. 38.7 billion rupees.
* State Bank of India - 4Q, Est. 35.3 billion rupees.
* Tata Steel Group - 4Q, Est. 8.81 billion rupees.
Tata Steel Standalone - 4Q, Est. 17.0 billion rupees.
* Torrent Pharmaceuticals - 4Q, Est. 703 million rupees.
* Karnataka Bank - 4Q, Est. 682 million rupees.
* City Union Bank - 4Q, Est. 637 million rupees.
* HT Media - 4Q, Est. 435 million rupees.
* Alok Industries - 4Q, Est. 2.4 billion rupees.
* Tata Investment Corp., Panacea Biotec, Hindustan Media
Ventures, TV Today Network, Ashoka Buildcon, Deepak Fertilizers
and Petrochemicals Corp.
BOND SALES:
* India to sell 40 billion rupees of 8.19 percent 2020 bonds.
* India to sell 70 billion rupees of 9.15 percent 2024 bonds.
* India to sell 20 billion rupees of 8.97 percent 2030 bonds.
* India to sell 20 billion rupees of 8.83 percent 2041 bonds.
CONFERENCES/EVENTS:
* 12 p.m. Mumbai. Abdul Rashid Bin Abdul Manaf, executive chairman of 3D International and Dayal Thakkar, MD of ThreeD
Holograms Pvt. hold press conference to announce product launch and show.
* 3 p.m. Kolkata. Pratip Chaudhuri, chairman of State Bank of India will hold a press conference to announce the earnings.
* 6:30 p.m. Hyderabad. The U.S. Consulate General Hyderabad organizes session on ‘U.S. Elections: Ethics & Transparency’ by
Allan J. Lichtman, Professor of History, American University, Washington.
* 7 p.m. Mumbai. Tata Steel Ltd. hosts press conference to announce the audited standalone and unaudited consolidated
annual results for year 2011-12.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
--
CA. Rajesh Desai
RAJESH DESAI
MARKETS
Asian Market is trading lower as Hang Seng was down by 0.40% while Nikkei 225 was up by 0.25% and Chinese markets were down by 0.35%. Asian stocks rose from a five-month low and the yen slid against all of its major peers as Chinese Premier Wen Jiabao said the government will focus more on bolstering economic growth. South Korea’s won strengthened, while oil was little changed after a six-day drop. Overnight U.S. markets were down by 0.60%. SGX Nifty at 8:00AM was trading at 4884 with a loss of 15 points.
MARKET STATS AT 8:00AM
|
Domestic Indices |
Last Price |
CH |
% CH |
% CH 5D |
N-Ferrous Metals |
Last Price |
CH |
% CH |
% CH 5D |
|
Sensex |
16152.75 |
82.27 |
0.51 |
(0.86) |
Copper |
7740.00 |
90.00 |
1.18 |
(1.28) |
|
Nifty |
4891.45 |
21.25 |
0.44 |
(0.33) |
Aluminum |
2065.25 |
-2.75 |
-0.13 |
1.99 |
|
Global Indices |
Last Price |
CH |
% CH |
% CH 5D |
Zinc |
|
1913.50 |
19.50 |
1.03 |
(0.34) |
||||||
|
Dow Jones |
12369.38 |
-73.11 |
(0.59) |
(3.52) |
Nickel |
17025.00 |
200.00 |
1.19 |
0.89 |
|
NASDAQ |
2778.79 |
-34.90 |
(1.24) |
(5.28) |
Lead |
1977.00 |
11.00 |
0.56 |
(2.90) |
|
S&P 500 |
1295.22 |
-9.64 |
(0.74) |
(4.30) |
|
Bullion & Crude Oil |
Last Price |
CH |
% CH |
% CH 5D |
|
FTSE 100 |
5267.62 |
-70.76 |
(1.33) |
(5.52) |
Gold |
1596.45 |
3.46 |
0.22 |
2.55 |
|
CAC 40 |
3008 |
-3.99 |
(0.13) |
(3.89) |
Silver |
28.69 |
-0.05 |
-0.18 |
1.92 |
|
DAX |
6271.22 |
-37.74 |
(0.60) |
(4.69) |
NYMEX Crude Oil |
91.83 |
0.35 |
0.38 |
(3.11) |
|
Nikkei 225 |
8633.94 |
22.63 |
0.26 |
(3.79) |
|
ADR/GDR |
Last Price |
CH |
% CH |
% CH 5D |
|
Hang Seng |
18874.97 |
-76.88 |
(0.41) |
(4.36) |
Infosys |
42.87 |
0.39 |
0.92 |
(1.97) |
|
Shanghai |
2332.085 |
-12.44 |
(0.53) |
(2.04) |
ICICI B |
28.61 |
0.20 |
0.70 |
(6.84) |
|
CSI 300 |
2564.886 |
-9.09 |
(0.35) |
(1.94) |
Wipro |
8.71 |
-0.03 |
-0.34 |
(4.29) |
|
KOSPI |
1792.99 |
10.53 |
0.59 |
(6.31) |
Sterlite |
7.27 |
0.19 |
2.68 |
0.55 |
|
Taiwan |
7194.83 |
43.64 |
0.61 |
(2.47) |
HDFCB |
29.06 |
0.40 |
1.40 |
(6.92) |
|
Indices Future |
Last Price |
CH |
% CH |
% CH 5D |
Tata Mo |
|
23.43 |
-0.69 |
-2.86 |
(14.95) |
||||||
|
SGX Nifty |
4884 |
-14.50 |
(0.30) |
0.14 |
Tata Com |
7.54 |
-0.03 |
-0.40 |
(5.99) |
|
Dow Jones |
12380 |
45.00 |
0.36 |
(2.17) |
DR.Reddy |
29.9 |
-0.25 |
-0.83 |
(2.29) |
|
Currencies & Freight |
Last Price |
CH |
% CH |
% CH 5D |
MTNL |
0.75 |
|
0.00 |
0.00 |
(7.41) |
|||||||
|
USD-INR X-RATE |
54.43 |
-0.06 |
0.11 |
(1.45) |
Patni |
18.56 |
-0.03 |
-0.16 |
(2.62) |
|
EUR-INR X-RATE |
69.21 |
0.17 |
(0.25) |
0.24 |
SBI |
70.1 |
2.20 |
3.24 |
(0.71) |
|
INR-JPY X-RATE |
1.45 |
0.01 |
(0.48) |
2.00 |
RIL |
24.88 |
-0.02 |
-0.08 |
(5.00) |
|
BALTIC DRY INDEX |
1141 |
4.00 |
0.35 |
0.26362 |
L&T |
21.2 |
-0.15 |
-0.70 |
(2.21) |
SOURCE:BLOOMBERG
EQUITY MOVERS:
* Alok Industries Ltd.: The supplier of textiles to Wal-Mart Stores Inc. reported fourth-quarter profit that jumped 78 percent
from a year earlier to 2.84 billion.
* Coal India Ltd.: Fourth-quarter standalone profit for the world’s largest producer of the fuel dropped 12 percent to 12.2 billion
rupees. Shares slid 1.1 percent to 303.1 rupees.
* Emkay Global Financial Services Ltd.: The brokerage posted a wider fourth-quarter group loss of 25.5 million rupees, versus 14.1
million rupees a year earlier.
* Manappuram Finance Ltd.: The provider of loans against gold posted fourth-quarter profit of 1.87 billion rupees.
* MMTC Ltd.: The biggest state-run trading company signed pacts with Japanese and South Korean steel companies to supply a total
of 2.8 million tons of iron ore annually for three years.
* Piramal Life Sciences Ltd.: Fourth-quarter loss for the drug-research company narrowed to 55.2 million rupees from 409.7 million
rupees last year.
* Reliance Capital Ltd.: The financial services company run by billionaire Anil Ambani posted fourth-quarter profit of 3.29 billion
rupees compared with a loss of 64.6 million rupees last year.
* Suzlon Energy Ltd.: India’s biggest wind-turbine maker said on May 19 that it expects to raise as much as $300million by next month,
in time to pay bondholders, easing concerns that it was headed for a default.
* Tata Steel Ltd.: India’s biggest producer reported a worse-than-estimated 90 percent drop in fourth-quarter profit as an escalating
debt crisis in Europe hurt demand and prices in the steelmaker’s largest market. Group net income plunged to 4.33 billion rupees in the
quarter ended March 31, from 41.8 billion rupees a year earlier.
* Uflex Ltd.: The maker of flexible and laminated packaging is targeting profit growth of about 60 percent in the year that began April 1.
OTHER NEWS:
* Adani Enterprises may report a net income of 8.08 billion rupees ($148 million) for the quarter ended March 31. National Aluminium
may post a standalone profit of 1.2 billion rupees for the period.
* India’s government, forced to scrap plans to reduce subsidies after a popular backlash, is being compelled by investors to cut spending
after the premium on sovereign debt approached a record and the rupee slumped. The finance ministry is paying 680 basis points over
U.S. Treasuries to raise funds for 10 years, approaching an all-time high of 696 basis points reached in November.
* Wipro Ltd. is seeking to make more than $1 billion in acquisitions over the next 18 months, adding intellectual property and software
to help boost profit, Chairman Azim Premji said. India’s third-largest computer-services provider is targeting deals between about $50 million
and $300 million, though “it’s not a hard cap,”.
* Leaders of the Group of Eight nations pushed for Greece to stay in the euro area and supported boosting growth, even as an increasingly
isolated Germany said Europe can’t spend its way out of the debt crisis. Faced with differences between Europe and the U.S., and among
European governments over the crisis response, the leading industrial economies concurred over the weekend at President Barack Obama’s
retreat outside Washington “that the right measures are not the same for each of us.”
* India bought 111.3 billion rupees of federal bonds on May 18 against an offer to purchase 120 billion rupees.
* India’s foreign exchange reserves dropped $1.37 billion to $291.8 billion and foreign-currency assets fell $1.33 billion to $257.9 billion in
the week ended May 11, the Reserve Bank of India said on May 18.
* Seven Indian states will sell 73 billion rupees of 10-year debt tomorrow, the central bank said in an e-mailed statement the same day.
* Rashtriya Ispat Nigam Ltd. filed share-sale documents with the Indian regulator to sell 89 million shares or 10 percent stake of the
government in an IPO, according to a document on the Securities and Exchange Board of India’s website.
OTHER EARNINGS:
* Zee Entertainment - 4Q, Est. 1.28 billion rupees.
* Kalpataru Power - 4Q, Est. 585 million rupees.
* Pfizer - 4Q, Est. 522 million rupees.
* Wyeth - 4Q, Est. 315 million rupees.
* Tata Communications, Akzo Nobel India, Gokaldas Exports,
Gitanjali Gems.
CONFERENCES/EVENTS:
* 11 a.m. HT Media Ltd. and Hindustan Media Ventures Ltd. hold a joint conference call to discuss their earnings.
* 2:30 p.m. Dilip B Jiwrajka, managing director of Alok Industries Ltd. holds conference call to discuss financial performance for
the quarter ended March 31.
* 3:30 p.m. Somnath Patil, president & chief financial officer of Deepak Fertilizers and Petrochemicals Corp. holds conference
call to discuss the Q4FY12 results.
* 4 p.m. Satish Parakh, MD and Paresh Mehta, CFO of Ashoka Buildcon Ltd. hold a conference call to discuss the Q4FY12 results.
SOURCE:BLOOMBERG
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 3051202
--
CA. Rajesh Desai
