What India's Stocks Market Will Watch - Jun 17
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K.Karthik Raja
Jun 17, 2008, 12:19:30 AM6/17/08
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What India's Stocks Market Will Watch - Jun 17
Tuesday, Jun 17 - Morning brief for the stock market:
BIG PICTURE
* States seek compensation for cut in sales tax on auto fuels (NW18)
* Chidambaram says list of farm loan waiver beneficiaries by mo-end
(NW18)
* Govt in last-ditch attempt to salvage nuclear deal (BS)
.
.
TOP EVENTS TODAY
* Nifty companies' Jan-Mar to be detailed by:
+ Bharat Petroleum Corp. (Q4 net seen 6.2 bln rupees vs 6.7 bln yr
ago)
+ Tata Communications. (Q4 net profit seen 1.3 bln rupees, down 3%
on yr)
* Bilpower Ltd, Cambridge Solutions, Chettinad Cement, IRB
Infrastructure,
Sical Logistics, Tantia Constructions, and Wire & Wireless (India)
to detail
earnings for year ended March.
* Cadila Healthcare to mull restructuring consumer products business.
* Carnation Nutra Analogue Foods to mull restructuring consumer
product business
of holding company Cadila Healthcare.
* Uttam Sugar Mills to mull rights issue, issue of warrants.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Jun 13: FIIs (518)
* Sensex 15395.82, up 206.20 points; Nifty 4572.50, up 55.40 points
* Other markets:Crude:$134.61/bbl; rupee:42.94;gold $884.15/ounce;10-
yr
yld:8.36%
.
.
OUTLOOK
* Seen opening flat-to-lower on mixed overnight close on the Wall
Street and
as most key Asian markets are trading weak.
.
.
.
GLOBAL STOCK MARKETS
* U.S. share market ended on a mixed note Monday, as investors weighed
volatility in crude prices, and an optimistic business outlook from
Lehman
Brothers.
.
* Most Asian markets were down today, with South Korea's Kospi falling
1% as
striking truckers and construction workers protested high fuel costs
and low
wages.
.
.
SECTOR NEWS
.
AUTOMOBILES: Government's decision to levy additional excise duty on
big
cars, multi-utility and sports-utility vehicles will increase their
prices by
20,000-30,000 rupees. (NW8)
.
AVIATION: SriLankan Airlines says it is not in talks for stake sale or
management contract with any Indian airline or international carrier
post
Emirates exit from managing the airline. (NW18)
.
FAST MOVING CONSUMER GOODS: Cobra Beer to launch diet beer in India by
September. (ET)
.
INFORMATION TECHNOLOGY: Income from units in special economic zones
may only
be partly exempt from tax rather than being tax-free. (ET)
.
HOSPITALITY: Occupancy in segments catering to business travellers has
dropped 5-10% since January. (DNA)
.
MEDIA: Rollout of conditional access system likely to be deferred till
general elections. (ET)
.
METALS: World Steel Dynamics, a global research group, says declining
demand
from China may result in a fall in iron ore prices in the
international
market in the coming months. (NW18)
.
MONSOON: - The southwest monsoon has advanced into remaining parts of
Haryana
and some more parts of Rajasthan. Having hit Delhi a fortnight ahead
of
schedule, the rains may cover the entire country in two-to-three days.
(NW18)
.
OIL AND GAS: INDIAN OIL CORP, BHARAT PETROLEUM CORP, and HINDUSTAN
PETROLEUM
CORP. are likely to incur gross revenue loss of 103.5 bln rupees on
sale of
oil products at subsidised prices in the fortnight ending Jun 30.
(NW18)
.
PHARMACEUTICALS: Imports from China are getting costly as the country
has to
comply with stricter pollution control norms. Nearly 20% Indian drugs
may go
off the shelf next month due to shortage and rising cost of
intermediaries.
(ET)
.
TELECOMMUNICATION: Telecom Regulatory Authority of India has ruled out
allowing ownership of spectrum by mobile virtual network operators.
(NW18)
Government warns people about harmful effects of radiation from
mobile
phones; asks service providers and cellphone makers to avoid
advertisements
showing vulnerable segments like children and pregnant women using
them.
(NW18)
.
.
STOCKS
* ALLAHABAD BANK: Puts on hold plans for more overseas branches until
global
financial market condition improves. (NW18)
.
* BHARAT PETROLEUM CORP: Seen posting Jan-Mar net profit at 6.2 bln
rupees
compared with 6.7 bln rupees a year ago. Net sales seen at 287.22 bln
rupees,
according to an average of estimates of four brokerages. (NW18)
.
* CKORAMAANDEL CEMENTS: Plans to invest 5.65 bln rupees in its second
round
of expansion. (NW18)
.
* DLF: Striking a deal with UK's Arcadia Group to bring a clothing
line to
India. (ET)
.
* ERA INFRA: Division construction and contracts gets orders worth 655
mln
rupees. (BL)
.
* GEMINI COMMUNICATIONS: Buys 51% in Chennai-based Veeras Infotek.
(ET)
.
* HOUSING DEVELOPMENT: To diversify into power projects. (DNA)
.
* IDBI Bank: Will claim 1 bln rupees from the government under the
farm loan
waiver scheme. (NW18)
.
* JET AIRWAYS: Has signed a two-year contract to buy aviation turbine
fuel
from Shell-Mangalore Refinery and Petrochemicals at Bangalore and
Hyderabad
international airports. (NW18)
Plans to put global expansion on hold. (ET)
RELIANCE INDUSTRIES in talks to pick 6-7% in Jet. (Mint)
Scraps plan to form an air-cargo venture. (BL)
.
* JSW STEEL: Will hold 49% stake in a joint venture in Georgia for
manufacturing 175,000 tn of steel re-bars per annum. (NW18)
.
* LUPIN: Gets US Food and Drug Administration nod for anti-depressant
Escitalopram Oxalate tablets. (BL)
.
* MAHANAGAR TELEPHONE NIGAM & AKSH OPTIFIBRE: Lower subscription rate
for
television over Internet services to 199 rupees a month for 100
channels. (ET)
.
* MARUTI SUZUKI: Unveils plan to make a competing car to TATA MOTORS'
Nano to
banks. (BS)
.
* RANBAXY LABORATORIES: Last date to counter Daiichi-Sankyo's bid for
the
company has been set as Jul 7. Daiichi's open offer to acquire
additional 20%
stake begins on Aug 8. (NW18)
Daiichi may revise open offer price for Ranbaxy. (BS)
.
* RELIANCE INDUSTRIES: Lignite plan hits bump in Rajasthan as acreage
area
overlaps with government's exploration plans. (ToI)
.
* RELIANCE POWER: To get $500 mln (20 bln rupees) loan from Asian
Development
Bank for 4,000MW power project in Andhra Pradesh. (BS)
.
* SPICEJET: Eyes $100 mln (4.3 bln rupees) for planes. (ToI)
.
* SREI INFRASTRUCTURE: Srei Group expects its loan disbursal in
2008-09
(Apr-Mar) to be 120 bln rupees, up from 57 bln rupees in 2007-08.
(NW18)
.
* TATA CONSULTANCY SERVICES: Bets big on overseas contracts relating
to
e-governance. (ET)
.
* TELEVISION EIGHTEEN: Sikh protestors ransack MTV office accusing the
channel of insulting the community sentiment in a recent advertisement
campaign. (ET)
.
* UNITECH LTD: Lehman Brothers Real Estate Partners is in talks with
the
company for further investment in its Mumbai projects; says the $175
mln
(7.40 bln rupees) pledged for the Santacruz project in north Mumbai is
just
the first tranche. (NW18)
.
* VEDANTA: Group owned company BALCO seeks lease of Gandhamardan hill
in
Orissa. (BS)
.
* YES BANK: Hikes prime lending rate and deposit rate by 50 basis
points. (NW18)
.
End
Tuesday, Jun 17 - Morning brief for the stock market:
BIG PICTURE
* States seek compensation for cut in sales tax on auto fuels (NW18)
* Chidambaram says list of farm loan waiver beneficiaries by mo-end
(NW18)
* Govt in last-ditch attempt to salvage nuclear deal (BS)
.
.
TOP EVENTS TODAY
* Nifty companies' Jan-Mar to be detailed by:
+ Bharat Petroleum Corp. (Q4 net seen 6.2 bln rupees vs 6.7 bln yr
ago)
+ Tata Communications. (Q4 net profit seen 1.3 bln rupees, down 3%
on yr)
* Bilpower Ltd, Cambridge Solutions, Chettinad Cement, IRB
Infrastructure,
Sical Logistics, Tantia Constructions, and Wire & Wireless (India)
to detail
earnings for year ended March.
* Cadila Healthcare to mull restructuring consumer products business.
* Carnation Nutra Analogue Foods to mull restructuring consumer
product business
of holding company Cadila Healthcare.
* Uttam Sugar Mills to mull rights issue, issue of warrants.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Jun 13: FIIs (518)
* Sensex 15395.82, up 206.20 points; Nifty 4572.50, up 55.40 points
* Other markets:Crude:$134.61/bbl; rupee:42.94;gold $884.15/ounce;10-
yr
yld:8.36%
.
.
OUTLOOK
* Seen opening flat-to-lower on mixed overnight close on the Wall
Street and
as most key Asian markets are trading weak.
.
.
.
GLOBAL STOCK MARKETS
* U.S. share market ended on a mixed note Monday, as investors weighed
volatility in crude prices, and an optimistic business outlook from
Lehman
Brothers.
.
* Most Asian markets were down today, with South Korea's Kospi falling
1% as
striking truckers and construction workers protested high fuel costs
and low
wages.
.
.
SECTOR NEWS
.
AUTOMOBILES: Government's decision to levy additional excise duty on
big
cars, multi-utility and sports-utility vehicles will increase their
prices by
20,000-30,000 rupees. (NW8)
.
AVIATION: SriLankan Airlines says it is not in talks for stake sale or
management contract with any Indian airline or international carrier
post
Emirates exit from managing the airline. (NW18)
.
FAST MOVING CONSUMER GOODS: Cobra Beer to launch diet beer in India by
September. (ET)
.
INFORMATION TECHNOLOGY: Income from units in special economic zones
may only
be partly exempt from tax rather than being tax-free. (ET)
.
HOSPITALITY: Occupancy in segments catering to business travellers has
dropped 5-10% since January. (DNA)
.
MEDIA: Rollout of conditional access system likely to be deferred till
general elections. (ET)
.
METALS: World Steel Dynamics, a global research group, says declining
demand
from China may result in a fall in iron ore prices in the
international
market in the coming months. (NW18)
.
MONSOON: - The southwest monsoon has advanced into remaining parts of
Haryana
and some more parts of Rajasthan. Having hit Delhi a fortnight ahead
of
schedule, the rains may cover the entire country in two-to-three days.
(NW18)
.
OIL AND GAS: INDIAN OIL CORP, BHARAT PETROLEUM CORP, and HINDUSTAN
PETROLEUM
CORP. are likely to incur gross revenue loss of 103.5 bln rupees on
sale of
oil products at subsidised prices in the fortnight ending Jun 30.
(NW18)
.
PHARMACEUTICALS: Imports from China are getting costly as the country
has to
comply with stricter pollution control norms. Nearly 20% Indian drugs
may go
off the shelf next month due to shortage and rising cost of
intermediaries.
(ET)
.
TELECOMMUNICATION: Telecom Regulatory Authority of India has ruled out
allowing ownership of spectrum by mobile virtual network operators.
(NW18)
Government warns people about harmful effects of radiation from
mobile
phones; asks service providers and cellphone makers to avoid
advertisements
showing vulnerable segments like children and pregnant women using
them.
(NW18)
.
.
STOCKS
* ALLAHABAD BANK: Puts on hold plans for more overseas branches until
global
financial market condition improves. (NW18)
.
* BHARAT PETROLEUM CORP: Seen posting Jan-Mar net profit at 6.2 bln
rupees
compared with 6.7 bln rupees a year ago. Net sales seen at 287.22 bln
rupees,
according to an average of estimates of four brokerages. (NW18)
.
* CKORAMAANDEL CEMENTS: Plans to invest 5.65 bln rupees in its second
round
of expansion. (NW18)
.
* DLF: Striking a deal with UK's Arcadia Group to bring a clothing
line to
India. (ET)
.
* ERA INFRA: Division construction and contracts gets orders worth 655
mln
rupees. (BL)
.
* GEMINI COMMUNICATIONS: Buys 51% in Chennai-based Veeras Infotek.
(ET)
.
* HOUSING DEVELOPMENT: To diversify into power projects. (DNA)
.
* IDBI Bank: Will claim 1 bln rupees from the government under the
farm loan
waiver scheme. (NW18)
.
* JET AIRWAYS: Has signed a two-year contract to buy aviation turbine
fuel
from Shell-Mangalore Refinery and Petrochemicals at Bangalore and
Hyderabad
international airports. (NW18)
Plans to put global expansion on hold. (ET)
RELIANCE INDUSTRIES in talks to pick 6-7% in Jet. (Mint)
Scraps plan to form an air-cargo venture. (BL)
.
* JSW STEEL: Will hold 49% stake in a joint venture in Georgia for
manufacturing 175,000 tn of steel re-bars per annum. (NW18)
.
* LUPIN: Gets US Food and Drug Administration nod for anti-depressant
Escitalopram Oxalate tablets. (BL)
.
* MAHANAGAR TELEPHONE NIGAM & AKSH OPTIFIBRE: Lower subscription rate
for
television over Internet services to 199 rupees a month for 100
channels. (ET)
.
* MARUTI SUZUKI: Unveils plan to make a competing car to TATA MOTORS'
Nano to
banks. (BS)
.
* RANBAXY LABORATORIES: Last date to counter Daiichi-Sankyo's bid for
the
company has been set as Jul 7. Daiichi's open offer to acquire
additional 20%
stake begins on Aug 8. (NW18)
Daiichi may revise open offer price for Ranbaxy. (BS)
.
* RELIANCE INDUSTRIES: Lignite plan hits bump in Rajasthan as acreage
area
overlaps with government's exploration plans. (ToI)
.
* RELIANCE POWER: To get $500 mln (20 bln rupees) loan from Asian
Development
Bank for 4,000MW power project in Andhra Pradesh. (BS)
.
* SPICEJET: Eyes $100 mln (4.3 bln rupees) for planes. (ToI)
.
* SREI INFRASTRUCTURE: Srei Group expects its loan disbursal in
2008-09
(Apr-Mar) to be 120 bln rupees, up from 57 bln rupees in 2007-08.
(NW18)
.
* TATA CONSULTANCY SERVICES: Bets big on overseas contracts relating
to
e-governance. (ET)
.
* TELEVISION EIGHTEEN: Sikh protestors ransack MTV office accusing the
channel of insulting the community sentiment in a recent advertisement
campaign. (ET)
.
* UNITECH LTD: Lehman Brothers Real Estate Partners is in talks with
the
company for further investment in its Mumbai projects; says the $175
mln
(7.40 bln rupees) pledged for the Santacruz project in north Mumbai is
just
the first tranche. (NW18)
.
* VEDANTA: Group owned company BALCO seeks lease of Gandhamardan hill
in
Orissa. (BS)
.
* YES BANK: Hikes prime lending rate and deposit rate by 50 basis
points. (NW18)
.
End
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