What India's Stocks Market Will Watch - Jul 9
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K.Karthik Raja
Jul 9, 2008, 4:35:02 AM7/9/08
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What India's Stocks Market Will Watch - Jul 9
Wednesday, Jul 9 - Morning brief for the stock market:
.
BIG PICTURE
* PM says withdrawal of support by Left not to affect govt stability
(NW18)
* Govt to seek IAEA OK on N-deal only after trust vote in Parliament
(NW18)
* Samajwadi Party to vote for N-deal; claims support of all 39 MPs
(NW18)
* Left decides to withdraw support to govt; to meet President Wed
(NW18)
.
.
TOP EVENTS TODAY
* Earnings for the quarter ended June to be detailed by Bajaj Auto
Finance,
Bajaj Finserv.
* Earnings for the year ended March to be detailed by Prithvi
Information
Solutions.
* Annual general meetings of: Adf Foods, Aditya Birla Nuvo, Bajaj Auto
Finance, Bajaj Finserv, TCFC Finance.
* Board meetings of:
+ Era Financial Services India to consider merger of Era Landmarks
(India) and Silver line Cinemas Pvt Ltd with self.
+ Thakkers Developers to consider issue of bonus shares.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Jul 7: FIIs (3,199)
* Sensex 13349.65, down 176.34 points; Nifty 3988.55, down 41.45
points
* Other markets:Crude:$136.04/bbl; rupee:43.26;gold $919.10/ounce;10-
yr
yld:9.29%
.
.
OUTLOOK
* Share indices are seen opening up 1-2% tracking gains in overseas
markets
after crude oil prices Tuesday dropped over $5 to end at $136.04 a
barrel on
the New York Mercantile Exchange.
.
.
GLOBAL STOCK MARKETS
* US shares advanced Tuesday due to a fall in crude oil prices and
gains in
financial shares after the US Federal Reserve said it might extend its
emergency loan programme for investment banks into 2009.
* Asian indices were up tracking gains on Wall Street as crude oil
prices
eased from record highs, and outlook for the financial sector
improved.
.
.
SECTOR NEWS
AUTO: Honda Siel Cars India's upcoming plant in Rajasthan is likely to
start
production from Oct 2009. (NW18)
.
AVIATION: Air-India is likely to ask for an equity infusion worth 13
bln
rupees along with loans or grants from the government to stay in
business.
(The Times of India)
.
CAPITAL MARKET: SEBI wants ban on outsourcing of know-your-client norm
work
by brokerages. (FE)
.
ECONOMY: Finance minister Chidambaram says trying to cool demand by
raising
interest rates. (UTVi)
U.S.-based global agency Fitch Ratings expects India's headline
inflation
to average around 9.5% in 2008. (NW18)
.
INFRASTRUCTURE: Government is looking at partially lifting ban on
compulsory
acquisition of land for building special economic zones. (ET)
Government SEZs likely to get autonomy. (BS)
.
PRIVATE EQUITY: Anil Dhirubhai Ambani Group plans to promote $2 bln
fund. (ET)
GVK group to get $150 mln funds via private equity. (FC)
.
RETAIL: Aditya Birla Group appoints Thomas Varghese as chief executive
officer of Aditya Birla Retail, replacing Sumant Sinha. (ET)
.
.
STOCKS
* DR REDDY'S: Has signed a pact with Albemarie Corp of the U.S. to
globally
sell active pharmaceutical ingredient for Ibuprofen. (NW18)
.
* GODREJ INDUSTRIES: Share buyback most likely by August. (BS)
.
* ICICI BANK: Has slashed performance bonus payouts for senior
management.
(Mint)
.
* INDO RAMA SYNTHETICS: Expects higher price realisation for polyester
yarn
in 2008-09 (Apr-Mar). 9NW18)
.
* LARSEN & TOUBRO: Gets an engineering, procurement and construction
order
worth 10.48 bln rupees from Indian Railways for setting up a cast
steel wheel
manufacturing plant in Bihar. (NW18)
.
* MYSORE CEMENTS: Securities Appellate Tribunal today dismissed
Securities
and Exchange Board of India's directive on Mysore Cements Ltd's open
offer,
making it clear that German cement major Heidelberg need not offer
non-compete fee to minority shareholders. (NW18)
.
* PATNI COMPUTER: Has laid off nearly 400 employees citing non-
performance
issues. (ET)
.
* RELIANCE COMMUNICATIONS: Deadline for exclusive merger talks between
the
company and South Africa's MTN expires, may not be extended. (ET)
.
* RELIANCE INDUSTRIES: Proposed Haryana special economic zone of the
company
runs into trouble over land cost, land owners demand three times the
amount
being offered. (Mint)
Is planning to explore oil and gas in Peru jointly with Petreleos
del
Peru. (DNA)
.
* TATA POWER: Has received a favourable judgement from the Supreme
Court
allowing it to distribute power to retail customers. (NW18)
The company, Reliance Power, GMR Group set for second round of
bidding
for Singapore's Senoko. (FC)
.
* UCO BANK: Will make a provision of 1.3 bln rupees on account of
marked-to-market losses on its bond portfolio for the quarter ended
June.
(NW18)
.
* ZEE ENTERTAINMENT: Chief Executive Officer, Pradeep Guha quits.
.
* SPICEJET: Promoters not to exit company, eyeing $100 mln funding.
(ET)
Goldman Sachs expresses interest to acquire stake in the company.
(BS)
Decision on funding to be finalised in a fortnight. (Mint)
.
Wednesday, Jul 9 - Morning brief for the stock market:
.
BIG PICTURE
* PM says withdrawal of support by Left not to affect govt stability
(NW18)
* Govt to seek IAEA OK on N-deal only after trust vote in Parliament
(NW18)
* Samajwadi Party to vote for N-deal; claims support of all 39 MPs
(NW18)
* Left decides to withdraw support to govt; to meet President Wed
(NW18)
.
.
TOP EVENTS TODAY
* Earnings for the quarter ended June to be detailed by Bajaj Auto
Finance,
Bajaj Finserv.
* Earnings for the year ended March to be detailed by Prithvi
Information
Solutions.
* Annual general meetings of: Adf Foods, Aditya Birla Nuvo, Bajaj Auto
Finance, Bajaj Finserv, TCFC Finance.
* Board meetings of:
+ Era Financial Services India to consider merger of Era Landmarks
(India) and Silver line Cinemas Pvt Ltd with self.
+ Thakkers Developers to consider issue of bonus shares.
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Jul 7: FIIs (3,199)
* Sensex 13349.65, down 176.34 points; Nifty 3988.55, down 41.45
points
* Other markets:Crude:$136.04/bbl; rupee:43.26;gold $919.10/ounce;10-
yr
yld:9.29%
.
.
OUTLOOK
* Share indices are seen opening up 1-2% tracking gains in overseas
markets
after crude oil prices Tuesday dropped over $5 to end at $136.04 a
barrel on
the New York Mercantile Exchange.
.
.
GLOBAL STOCK MARKETS
* US shares advanced Tuesday due to a fall in crude oil prices and
gains in
financial shares after the US Federal Reserve said it might extend its
emergency loan programme for investment banks into 2009.
* Asian indices were up tracking gains on Wall Street as crude oil
prices
eased from record highs, and outlook for the financial sector
improved.
.
.
SECTOR NEWS
AUTO: Honda Siel Cars India's upcoming plant in Rajasthan is likely to
start
production from Oct 2009. (NW18)
.
AVIATION: Air-India is likely to ask for an equity infusion worth 13
bln
rupees along with loans or grants from the government to stay in
business.
(The Times of India)
.
CAPITAL MARKET: SEBI wants ban on outsourcing of know-your-client norm
work
by brokerages. (FE)
.
ECONOMY: Finance minister Chidambaram says trying to cool demand by
raising
interest rates. (UTVi)
U.S.-based global agency Fitch Ratings expects India's headline
inflation
to average around 9.5% in 2008. (NW18)
.
INFRASTRUCTURE: Government is looking at partially lifting ban on
compulsory
acquisition of land for building special economic zones. (ET)
Government SEZs likely to get autonomy. (BS)
.
PRIVATE EQUITY: Anil Dhirubhai Ambani Group plans to promote $2 bln
fund. (ET)
GVK group to get $150 mln funds via private equity. (FC)
.
RETAIL: Aditya Birla Group appoints Thomas Varghese as chief executive
officer of Aditya Birla Retail, replacing Sumant Sinha. (ET)
.
.
STOCKS
* DR REDDY'S: Has signed a pact with Albemarie Corp of the U.S. to
globally
sell active pharmaceutical ingredient for Ibuprofen. (NW18)
.
* GODREJ INDUSTRIES: Share buyback most likely by August. (BS)
.
* ICICI BANK: Has slashed performance bonus payouts for senior
management.
(Mint)
.
* INDO RAMA SYNTHETICS: Expects higher price realisation for polyester
yarn
in 2008-09 (Apr-Mar). 9NW18)
.
* LARSEN & TOUBRO: Gets an engineering, procurement and construction
order
worth 10.48 bln rupees from Indian Railways for setting up a cast
steel wheel
manufacturing plant in Bihar. (NW18)
.
* MYSORE CEMENTS: Securities Appellate Tribunal today dismissed
Securities
and Exchange Board of India's directive on Mysore Cements Ltd's open
offer,
making it clear that German cement major Heidelberg need not offer
non-compete fee to minority shareholders. (NW18)
.
* PATNI COMPUTER: Has laid off nearly 400 employees citing non-
performance
issues. (ET)
.
* RELIANCE COMMUNICATIONS: Deadline for exclusive merger talks between
the
company and South Africa's MTN expires, may not be extended. (ET)
.
* RELIANCE INDUSTRIES: Proposed Haryana special economic zone of the
company
runs into trouble over land cost, land owners demand three times the
amount
being offered. (Mint)
Is planning to explore oil and gas in Peru jointly with Petreleos
del
Peru. (DNA)
.
* TATA POWER: Has received a favourable judgement from the Supreme
Court
allowing it to distribute power to retail customers. (NW18)
The company, Reliance Power, GMR Group set for second round of
bidding
for Singapore's Senoko. (FC)
.
* UCO BANK: Will make a provision of 1.3 bln rupees on account of
marked-to-market losses on its bond portfolio for the quarter ended
June.
(NW18)
.
* ZEE ENTERTAINMENT: Chief Executive Officer, Pradeep Guha quits.
.
* SPICEJET: Promoters not to exit company, eyeing $100 mln funding.
(ET)
Goldman Sachs expresses interest to acquire stake in the company.
(BS)
Decision on funding to be finalised in a fortnight. (Mint)
.
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