What India's Stocks Market Will Watch - Apr 30
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K.Karthik Raja
Apr 30, 2008, 12:18:39 AM4/30/08
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What India's Stocks Market Will Watch - Apr 30
Wednesday, Apr 30 - Morning brief for the stock market:
BIG PICTURE
* RBI hikes cash reserve ratio 25 bps to 8.25% from May 24 (NW18)
* RBI targets GDP growth of 8.0-8.5% in FY09 (NW18)
* RBI attempts to bring inflation down to around 5.5% in FY09 (NW18)
* PM calls upon industry to absorb rising costs to tame inflation
(NW18)
* Chidambaram says determined to take more steps to curb inflation
(NW18)
* Govt announces steps to tame inflation, tweaks steel duties (NW18)
* Iran hopes to finalise tri-nation gas pipeline project in 45 days
(NW18)
.
.
TOP EVENTS TODAY
* Nifty companies to detail Jan-Mar earnings:
+ DLF. Net seen in the range of 18.4 bln-21.8 bln rupees.
+ Housing Development Finance Corp. Net seen 7.34 bln rupees, up
34% on
year.
+ Reliance Communications. Net seen 13.08 bln rupees, up 5% on
quarter.
+ Hindalco Industries. Net profit seen 5.99 bln rupees, up 17% on
year.
* Annual General Meets of: Alfa Laval, Chemfab Alkalis, Gujarat Gas,
and ITD
Cementation.
* Jan-Mar earnings to be detailed, among others, by: Aditya Birla
Nuvo,
Aptech, Bank of India, Ballarpur Industries, Balrampur Chini Mills,
Dabur
India, Great Offshore, Jaiprakash Associates, KEC International,
Kinetic
Motor, Moser Baer, Spice Communications, Tata Elxsi, Tanla Solutions,
Videocon Appliances, and Videocon Industries.
* Board meet of Spice Mobiles on earnings for the quarter ended March
and to
consider a proposal of rights issue of the company and increase in
authorised
share capital of the company.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Apr 28: MFs (1,996)
* Sensex 17378.46, up 362.50 points; Nifty 5195.50, up 105.85 points
* Other markets:Crude:$115.63/bbl;rupee:40.48/$1;gold$864.70/ounce;10-
yr
yld:7.94%
.
.
OUTLOOK
* Stocks may open firm as Asian markets are coming off lows, but trade
is
likely to remain choppy on caution ahead of mid-week holiday on
Thursday.
.
.
GLOBAL STOCK MARKETS
* U.S. stocks ended slightly down Tuesday, as investors remained
cautious with
the US Federal Reserve's two-day meet underway.
Also dampening the sentiment was data that showed consumer
confidence in
the
world's largest economy slipped to a five-year low in April.
.
* Asian indices were mixed with commodity related stocks leading
declines.
.
.
IPO WATCH
* Initial public offering of NHPC likely to hit the market by August.
(NW18)
.
.
SECTOR NEWS
.
AVIATION: Failing to get environmental clearance for the proposed site
of the
new international airport in Navi Mumbai, the ministry of civil
aviation has
referred the proposal to the Prime Minister's Office. (ET)
Opening of the new Bangalore international airport delayed yet
again,
this time to last week of May. (Var)
.
EXPORTS: Government sees exports from special economic zones topping
$31 bln
in the current financial year to March. (NW18)
.
HOTELS: Dawny Day International to set up a chain of four-star hotels
in
India, starting with one in Jaipur. (ET)
.
INFORMATION TECHNOLOGY: Government has extended exemption to software
technology parks to Mar 2010. (NW18)
.
OIL AND GAS: Government has extended the sunset clause for tax breaks
to
three upcoming refineries--Paradip in Orissa, Bina in Madhya Pradesh
and
Bathinda in Punjab--by three years to Mar 31, 2012. (NW18)
.
POWER: Germany's Centrothirm, one US and two Indian companies to form
joint
venture to set up solar power plant at Haldia with initial investment
of 40
bln rupees. (DNA)
.
RAILWAYS: Central government plans to pitch in 6.5 bln rupees as extra
budgetary support to the Mumbai Metro. (ET)
.
.
STOCKS
.
* ALSTOM PROJECTS: Likely to join the newly-formed joint venture
between NTPC
and BHEL for sprucing up its domestic equipment manufacturing activity
like
production of high-value turbine and generator sets. (ET)
.
* BHEL: Has announced the incorporation of its 50:50 joint venture
company
with NTPC with an initial paid-up capital of 50 mln rupees. (NW18)
.
* CAIRN: Jan-Mar net up 209% to 1.16 bln rupees on sharp rise in crude
oil
prices. (NW18)
To start output at Bhagyam, its second largest oil field, in early
2010;
field expected to have peak output of 40,000 barrels per day. (DNA)
.
* CASTROL INDIA: Will incur a capital expenditure of 300 mln rupees in
2008
for plant maintenance and expanding its BikeZone vertical. (NW18)
.
* DABUR INDIA: Its health and beauty retail subsidiary H&B Stores to
open 350
stores in next three years at an investment of over 1.4 bln rupees.
(ET)
.
* GRASIM: Reports a 41% rise in Jan-Mar net profit to 6.67 bln rupees
on good
performance by the viscose staple fibre and cement divisions and a one-
time
gain. (NW18)
Mulls organic growth for ready mix concrete business; not pursuing
acquisitions. (NW18)
.
* ING VYSYA: Jan-Mar net profit 428.8 mln rupees, up 133%. (NW18)
.
* M&M: Mahindra Tractors plans to launch an ultra-low-cost tractor for
rural
market; tractor expected to cost around 200,000 rupees. (BL)
.
* MMTC: Seeks at least 25,000-35,000 tn hard coking coal per month
from May.
(NW18)
.
* NTPC: To manufacture cement near six of its power plants through
ventures
with private firms; has already issued expressions of interest for
joint
ventures and received responses from 11 firms. (Mint)
.
* PARSVNATH: To announce joint venture with foreign partner in June to
build
8-10 hypermarts. (ET)
.
* RELIANCE INFRASTRUCTURE: Formerly Reliance Energy, targets a net
profit
margin of 8-10% on engineering, construction, and procurement
projects. (NW18)
.
* RELIANCE POWER: To spend $650 mln to develop an Indonesian coal
mine. (HT)
.
* SBI: Will take a decision on interest rates within a week. (NW18)
.
* TATA STEEL: Proposals to set up greenfield plants in Jharkhand and
Chhattisgarh are slowing down due to land buy issues. (NW18)
.
* TVS Motor: Is likely to post a 15% volume growth in its two-wheeler
sales
this financial year even as industrial sales on the whole are likely
to
shrink by 5%. (NW18)
.
* UTV SOFTWARE: Arm UTV Motion Picture plans 18 films in a year; to
invest 10
bln rupees. (BS)
.
* WIRE & WIRELESS: Set to launch country's first headend-in-the-sky
operations in the next 15-20 days. (ET)
Wednesday, Apr 30 - Morning brief for the stock market:
BIG PICTURE
* RBI hikes cash reserve ratio 25 bps to 8.25% from May 24 (NW18)
* RBI targets GDP growth of 8.0-8.5% in FY09 (NW18)
* RBI attempts to bring inflation down to around 5.5% in FY09 (NW18)
* PM calls upon industry to absorb rising costs to tame inflation
(NW18)
* Chidambaram says determined to take more steps to curb inflation
(NW18)
* Govt announces steps to tame inflation, tweaks steel duties (NW18)
* Iran hopes to finalise tri-nation gas pipeline project in 45 days
(NW18)
.
.
TOP EVENTS TODAY
* Nifty companies to detail Jan-Mar earnings:
+ DLF. Net seen in the range of 18.4 bln-21.8 bln rupees.
+ Housing Development Finance Corp. Net seen 7.34 bln rupees, up
34% on
year.
+ Reliance Communications. Net seen 13.08 bln rupees, up 5% on
quarter.
+ Hindalco Industries. Net profit seen 5.99 bln rupees, up 17% on
year.
* Annual General Meets of: Alfa Laval, Chemfab Alkalis, Gujarat Gas,
and ITD
Cementation.
* Jan-Mar earnings to be detailed, among others, by: Aditya Birla
Nuvo,
Aptech, Bank of India, Ballarpur Industries, Balrampur Chini Mills,
Dabur
India, Great Offshore, Jaiprakash Associates, KEC International,
Kinetic
Motor, Moser Baer, Spice Communications, Tata Elxsi, Tanla Solutions,
Videocon Appliances, and Videocon Industries.
* Board meet of Spice Mobiles on earnings for the quarter ended March
and to
consider a proposal of rights issue of the company and increase in
authorised
share capital of the company.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Apr 28: MFs (1,996)
* Sensex 17378.46, up 362.50 points; Nifty 5195.50, up 105.85 points
* Other markets:Crude:$115.63/bbl;rupee:40.48/$1;gold$864.70/ounce;10-
yr
yld:7.94%
.
.
OUTLOOK
* Stocks may open firm as Asian markets are coming off lows, but trade
is
likely to remain choppy on caution ahead of mid-week holiday on
Thursday.
.
.
GLOBAL STOCK MARKETS
* U.S. stocks ended slightly down Tuesday, as investors remained
cautious with
the US Federal Reserve's two-day meet underway.
Also dampening the sentiment was data that showed consumer
confidence in
the
world's largest economy slipped to a five-year low in April.
.
* Asian indices were mixed with commodity related stocks leading
declines.
.
.
IPO WATCH
* Initial public offering of NHPC likely to hit the market by August.
(NW18)
.
.
SECTOR NEWS
.
AVIATION: Failing to get environmental clearance for the proposed site
of the
new international airport in Navi Mumbai, the ministry of civil
aviation has
referred the proposal to the Prime Minister's Office. (ET)
Opening of the new Bangalore international airport delayed yet
again,
this time to last week of May. (Var)
.
EXPORTS: Government sees exports from special economic zones topping
$31 bln
in the current financial year to March. (NW18)
.
HOTELS: Dawny Day International to set up a chain of four-star hotels
in
India, starting with one in Jaipur. (ET)
.
INFORMATION TECHNOLOGY: Government has extended exemption to software
technology parks to Mar 2010. (NW18)
.
OIL AND GAS: Government has extended the sunset clause for tax breaks
to
three upcoming refineries--Paradip in Orissa, Bina in Madhya Pradesh
and
Bathinda in Punjab--by three years to Mar 31, 2012. (NW18)
.
POWER: Germany's Centrothirm, one US and two Indian companies to form
joint
venture to set up solar power plant at Haldia with initial investment
of 40
bln rupees. (DNA)
.
RAILWAYS: Central government plans to pitch in 6.5 bln rupees as extra
budgetary support to the Mumbai Metro. (ET)
.
.
STOCKS
.
* ALSTOM PROJECTS: Likely to join the newly-formed joint venture
between NTPC
and BHEL for sprucing up its domestic equipment manufacturing activity
like
production of high-value turbine and generator sets. (ET)
.
* BHEL: Has announced the incorporation of its 50:50 joint venture
company
with NTPC with an initial paid-up capital of 50 mln rupees. (NW18)
.
* CAIRN: Jan-Mar net up 209% to 1.16 bln rupees on sharp rise in crude
oil
prices. (NW18)
To start output at Bhagyam, its second largest oil field, in early
2010;
field expected to have peak output of 40,000 barrels per day. (DNA)
.
* CASTROL INDIA: Will incur a capital expenditure of 300 mln rupees in
2008
for plant maintenance and expanding its BikeZone vertical. (NW18)
.
* DABUR INDIA: Its health and beauty retail subsidiary H&B Stores to
open 350
stores in next three years at an investment of over 1.4 bln rupees.
(ET)
.
* GRASIM: Reports a 41% rise in Jan-Mar net profit to 6.67 bln rupees
on good
performance by the viscose staple fibre and cement divisions and a one-
time
gain. (NW18)
Mulls organic growth for ready mix concrete business; not pursuing
acquisitions. (NW18)
.
* ING VYSYA: Jan-Mar net profit 428.8 mln rupees, up 133%. (NW18)
.
* M&M: Mahindra Tractors plans to launch an ultra-low-cost tractor for
rural
market; tractor expected to cost around 200,000 rupees. (BL)
.
* MMTC: Seeks at least 25,000-35,000 tn hard coking coal per month
from May.
(NW18)
.
* NTPC: To manufacture cement near six of its power plants through
ventures
with private firms; has already issued expressions of interest for
joint
ventures and received responses from 11 firms. (Mint)
.
* PARSVNATH: To announce joint venture with foreign partner in June to
build
8-10 hypermarts. (ET)
.
* RELIANCE INFRASTRUCTURE: Formerly Reliance Energy, targets a net
profit
margin of 8-10% on engineering, construction, and procurement
projects. (NW18)
.
* RELIANCE POWER: To spend $650 mln to develop an Indonesian coal
mine. (HT)
.
* SBI: Will take a decision on interest rates within a week. (NW18)
.
* TATA STEEL: Proposals to set up greenfield plants in Jharkhand and
Chhattisgarh are slowing down due to land buy issues. (NW18)
.
* TVS Motor: Is likely to post a 15% volume growth in its two-wheeler
sales
this financial year even as industrial sales on the whole are likely
to
shrink by 5%. (NW18)
.
* UTV SOFTWARE: Arm UTV Motion Picture plans 18 films in a year; to
invest 10
bln rupees. (BS)
.
* WIRE & WIRELESS: Set to launch country's first headend-in-the-sky
operations in the next 15-20 days. (ET)
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