24 December 2010

FII DERIVATIVES STATISTICS FOR 24-Dec-2010

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FII DERIVATIVES STATISTICS FOR 24-Dec-2010 
 BUYSELLOPEN INTEREST AT THE END OF THE DAY 
 No. of contractsAmt in CroresNo. of contractsAmt in CroresNo. of contractsAmt in Crores 
INDEX FUTURES718992155.90523261569.1066368219977.45586.80
INDEX OPTIONS1428564256.641084633230.15193254157809.611026.50
STOCK FUTURES1199023160.771311193533.59132572936179.09-372.82
STOCK OPTIONS6780209.246977213.8327224789.49-4.59
      Total1235.88

FII trading activity on NSE and BSE on Capital Market Segment

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FII trading activity on NSE and BSE on Capital Market Segment
The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 24-Dec-2010.
FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
FII24-Dec-20101221.231206.4114.82
Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment
The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System on 24-Dec-2010.
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
CategoryDateBuy ValueSell ValueNet Value
DII24-Dec-2010651.84948.4-296.56

 

HDFC Bank: Franchise value; upgrade to ADD:: Kotak Securities

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HDFC Bank (HDFCB)
Banks/Financial Institutions
Franchise value to get more meaningful in current times; upgrade to ADD. HDFC
Bank is best positioned at times of tight liquidity and higher rates, on the back of its
superior liability franchisee. Even as valuations remain expensive, superior growth and
low risk makes us more positive on the stock. We believe that above-industry loan
growth (25%+), 4%+ margins and lower provisioning should drive 30% PAT growth
over the next few quarters. Upgrade to ADD (from REDUCE) with a TP of `2,500.

Edelweiss Research - December, 24 2010- Dish TV

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Dish TV (DITV IN, INR 65, Buy)

We recently interacted with the Dish TV India (Dish TV) management to understand the company’s business strategy going ahead. Following are the key takeaways of our interaction:

n  Subscriber addition has accelerated for entire industry
Dish TV added 1.4 mn subscribers in H1FY11 and is likely to add 1.8 mn in H2FY11. The entire industry added 1.4 mn in October and 1.9 mn in November and is likely to add 1-1.1 mn subscribers in December and 3.3-3.5 mn in Q4FY11. Dish TV expects ~12 mn subscriber addition in FY11 and ~ 11 mn in FY12 for overall industry. Management stated the company is striving to corner ~28-30% share of this in a six-player market. Dish TV now has 9.2 mn gross and 7.3 mn net subscribers and expects the momentum in subscriber addition to continue till industry touches 55 mn subscriber base (from the current 30 mn).

n  Rural and smaller towns growing at a faster clip
As per IRS, ~76% of DTH subscribers are from smaller towns and rural areas. This augurs well for Dish TV in light of its strategy of focusing more on smaller towns and rural areas. In top cities, cable players are more aggressive and charge only for one connection in multi-TV homes cable companies, rendering DTH more expensive.

n  Cut in entry price has been positive
Packages are now available at below INR 1,000 (INR 1,690 earlier), which has led to significant impact on consumer psyche. However, there is no significant negative impact on Dish TV as now only one month free content is provided instead of three months earlier.

n  Premiumisation underway
Dish TV expects an exit ARPU of INR 150-155 in FY11E. Q3FY11 is likely to see some improvement Q-o-Q with subscribers uptrading to higher value packages.

n  Outlook and valuations: Attractive; maintain ‘BUY’
We are bullish on the Indian pay TV market. Dish TV is at an inflection point with expected higher growth on back of low penetration, favourable regulatory environment, increasing margins, and strong balance sheet. Hence, we maintain ‘BUY/Sector Performer’ recommendation/rating on the stock.

Grey Market Preimum - Ravi Kumar,ShekhawatiPoly, Punjab & Sind-24.12.10

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           Grey Market Preimum as on 24.12.10

Company Name
Offer Price
Premium
(Rs.)
(Rs.)
Ravi Kumar Distilleries
64
14 to 15
(upper band)
Punjab & Sind Bank
113 to 120
30 to 31
(+ 5% retail discount)
Shekhawati Poly Yarn
30 (Fixed Price)
8 to 9


BSE -24.12.10-trading

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(Rs. crore)
Clients
Trade Date
Buy
Sales
Net
24-12-2010
2,107.15
2,121.38
-14.23
23-12-2010
2,278.89
2,234.89
44
22-12-2010
2,504.66
2,533.60
-28.94
Dec , 10
38,305.69
38,297.59
8.1
Since 1/1/10
7,79,524.56
7,92,184.76
-12,660.20
(Rs. crore)
NRI
Trade Date
Buy
Sales
Net
24-12-2010
0.91
3.30
-2.4
23-12-2010
0.55
4.01
-3.46
40534
1.12
0.31
0.81
Dec , 10
30.26
38.32
-8.06
Since 1/1/10
653.13
576.49
76.64
(Rs. crore)
Proprietary
Trade Date
Buy
Sales
Net
24-12-2010
696.20
655.06
41.14
23-12-2010
821.81
828.09
-6.29
40534
881.47
882.81
-1.34
Dec , 10
13,143.69
13,007.81
135.88
Since 1/1/10
2,36,444.88
2,34,373.21
2,071.66


BSE - FII and DII - 24.12.10

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FII & DII Turnover (BSE + NSE)
(Rs. crore)
FII
DII
Trade Date
Buy
Sales
Net
Buy
Sales
Net
24/12/10
1,221.23
1,206.41
14.82
651.84
948.40
-296.56
23/12/10
1,490.30
1,633.40
-143.10
893.35
981.98
-88.63
22/12/10
2,375.65
2,443.22
-67.57
1,252.32
1,153.39
98.93
Dec , 10
42,182.64
44,917.86
-2,735.22
19,116.85
19,161.30
-44.45
Since 1/1/10   *
689,509.47
630,117.85
59,391.62
318,069.25
337,572.59
-19,503.34