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Economy / Political News
Food inflation fell to a 4-month low of 9.18% for the week ended March 26,
compared to 10.2% the previous week.
The country's foodgrain output is set to touch an all-time record of 235.88 million
tonnes (mt) in 2010-11.
State assembly elections including the crucial states of West Bengal and
Tamilnadu are being held in April & May. Assam, Kerela and Pondicherry are also
holding the assembly elections.
Corporate Highlights
BHEL- 4Q results surprise: BHEL pleasantly surprised street with Rec. PAT
Rs57bn +37%YoY (+3% consensus) on 20%YoY growth in sales (target 11-16%)
and 170bps fall in labour costs. Reported PAT was +40%YoY on Rs2.8bn of profit
on change in a/c policy for warranty provision.
Stock market overview
Performance: The BSE Sensex was up by 0.2% last week. Trading volumes
were up by 18% and the Advance/Decline ratio was 1.87 at BSE.
Flows: FII bought USD 1515mn during the week ended 8th Apr’11. YTD they have
bought USD 1bn. Domestic MFs on the other hand sold USD 150mn during the
week ended 7th Apr’11.
Top performers of the week: Mah Satyam, Suzlon, Unitech, Aditya Birla and
IndiaBull Realestate
Worst performers: DLF, Idea Cellular, Bajaj Auto, NTPC and Hindalco.
Economic Data Watch
Forex reserves rose by USD 2bn to US$305bn for the week ended 1st Apr’11.
News This Week
Economics
Food inflation fell to a 4-month low of 9.18% for the week ended March 26,
compared to 10.2% the previous week. – Media
The country's foodgrain output is set to touch an all-time record of 235.88
million tonnes (mt) in 2010-11. - Media
Politics
State assembly elections including the crucial states of West Bengal and
Tamilnadu are going to be held in April & May. Assam, Kerela and
Pondicherry are also holding the assembly elections. - Media
Corporate
Domestic Car sales rose by 24.4% to 194,199 units in Mar’11. On other hand
2W sales in March increased by 19.14% to 1,096,233 units. –Media
M & M for the 2nd time in the year has raised prices of its entire range of
vehicles by up to Rs15,000 from last week.-Media
Cairn Energy and Vedanta Resources extended the deadline for a $9.6
billion deal for Cairn's India assets. -Media
Cadila Healthcare has received USFDA approval to conduct trials for its new
molecule entity (NME) ZYGK1 to be used for treating diabetes. -Media
GVK Power and Infrastructure is in exclusive talks to buy two Australian coal
mines owned by Hancock Prospecting in a deal worth A$8 billion. -Media
Genpact has signed a definitive agreement to acquire Headstrong
Corporation for $550 million. – Media
Maruti Suzuki will recall 13,157 units of its three diesel driven models of
Dzire, Swift and Ritz due to a possible faulty engine part. -Media
L&T Metro Rail Ltd has achieved financial closure for the Rs121bn
Hyderabad metro rail project. - Media
REpower, a 95% subsidiary of Suzlon, entered its largest onshore framework
agreement for the supply of 240 wind turbines with total capacity of 720MW
with Juwi Group. - Media
BHEL pleasantly surprised street with Rec. PAT Rs57bn +37%YoY (+3%
consensus) on 20%YoY growth in sales (target 11-16%) and 170bps fall in
labour costs. Reported PAT was +40%YoY on Rs2.8bn of profit on change in
a/c policy for warranty provision.- Media
ARSS Infra won a work order from MP Road Development Corporation Ltd
for construction of a 70km road on a build-operate-transfer basis.- Media
Wipro to do an all-cash acquisition of the Global Oil and Gas IT Services unit
of SAIC. – Media
Much-awaited Rs80bn follow-on public offer of Steel Authority of India (SAIL)
is set to hit the capital market by the end of May. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Apr 2 – Apr 08, 2011.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Economy / Political News
Food inflation fell to a 4-month low of 9.18% for the week ended March 26,
compared to 10.2% the previous week.
The country's foodgrain output is set to touch an all-time record of 235.88 million
tonnes (mt) in 2010-11.
State assembly elections including the crucial states of West Bengal and
Tamilnadu are being held in April & May. Assam, Kerela and Pondicherry are also
holding the assembly elections.
Corporate Highlights
BHEL- 4Q results surprise: BHEL pleasantly surprised street with Rec. PAT
Rs57bn +37%YoY (+3% consensus) on 20%YoY growth in sales (target 11-16%)
and 170bps fall in labour costs. Reported PAT was +40%YoY on Rs2.8bn of profit
on change in a/c policy for warranty provision.
Stock market overview
Performance: The BSE Sensex was up by 0.2% last week. Trading volumes
were up by 18% and the Advance/Decline ratio was 1.87 at BSE.
Flows: FII bought USD 1515mn during the week ended 8th Apr’11. YTD they have
bought USD 1bn. Domestic MFs on the other hand sold USD 150mn during the
week ended 7th Apr’11.
Top performers of the week: Mah Satyam, Suzlon, Unitech, Aditya Birla and
IndiaBull Realestate
Worst performers: DLF, Idea Cellular, Bajaj Auto, NTPC and Hindalco.
Economic Data Watch
Forex reserves rose by USD 2bn to US$305bn for the week ended 1st Apr’11.
News This Week
Economics
Food inflation fell to a 4-month low of 9.18% for the week ended March 26,
compared to 10.2% the previous week. – Media
The country's foodgrain output is set to touch an all-time record of 235.88
million tonnes (mt) in 2010-11. - Media
Politics
State assembly elections including the crucial states of West Bengal and
Tamilnadu are going to be held in April & May. Assam, Kerela and
Pondicherry are also holding the assembly elections. - Media
Corporate
Domestic Car sales rose by 24.4% to 194,199 units in Mar’11. On other hand
2W sales in March increased by 19.14% to 1,096,233 units. –Media
M & M for the 2nd time in the year has raised prices of its entire range of
vehicles by up to Rs15,000 from last week.-Media
Cairn Energy and Vedanta Resources extended the deadline for a $9.6
billion deal for Cairn's India assets. -Media
Cadila Healthcare has received USFDA approval to conduct trials for its new
molecule entity (NME) ZYGK1 to be used for treating diabetes. -Media
GVK Power and Infrastructure is in exclusive talks to buy two Australian coal
mines owned by Hancock Prospecting in a deal worth A$8 billion. -Media
Genpact has signed a definitive agreement to acquire Headstrong
Corporation for $550 million. – Media
Maruti Suzuki will recall 13,157 units of its three diesel driven models of
Dzire, Swift and Ritz due to a possible faulty engine part. -Media
L&T Metro Rail Ltd has achieved financial closure for the Rs121bn
Hyderabad metro rail project. - Media
REpower, a 95% subsidiary of Suzlon, entered its largest onshore framework
agreement for the supply of 240 wind turbines with total capacity of 720MW
with Juwi Group. - Media
BHEL pleasantly surprised street with Rec. PAT Rs57bn +37%YoY (+3%
consensus) on 20%YoY growth in sales (target 11-16%) and 170bps fall in
labour costs. Reported PAT was +40%YoY on Rs2.8bn of profit on change in
a/c policy for warranty provision.- Media
ARSS Infra won a work order from MP Road Development Corporation Ltd
for construction of a 70km road on a build-operate-transfer basis.- Media
Wipro to do an all-cash acquisition of the Global Oil and Gas IT Services unit
of SAIC. – Media
Much-awaited Rs80bn follow-on public offer of Steel Authority of India (SAIL)
is set to hit the capital market by the end of May. - Media
Source: Collated from Bloomberg and following news papers - Economic Times, Live Mint,
Business Standard & Financial Express dated Apr 2 – Apr 08, 2011.
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