Angel Broking, Government okays Banking Laws Amendment Bill

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Government okays Banking Laws Amendment Bill
The government has approved the Banking Laws Amendment Bill that seeks to align the
voting rights in banks in proportion to the equity holding. Currently, the voting rights of a
shareholder are limited to 1% in state-owned banks and 10% in private banks irrespective
of their equity holding. Post the approval in the parliament, the bill will align the ability to
exert influence in line with the ownership right, which will be positive for the entire banking
sector, especially private sector banks. To prevent an entity or an individual from cornering
a chunk of shares in a bank, the bill also restricts an individual or entity from holding more
than 5% stake in a bank without receiving approval from the RBI.

TCS signs a contract with The Law Society of England and Wales : Angel Broking,

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TCS signs a contract with The Law Society of England and Wales
TCS has won a contract from The Law Society of England and Wales as its strategic
transformation partner. TCS will work with The Law Society initially on a significant system
development project, which aims to create a more effective online service for The Law
Society and its members.
In the UK, in particular, the legal services industry is forecast to undergo material change
as the Legal Service Act (LSA) 2007 comes into implementation in 2011. This act is aimed
at liberalising the legal services market and bringing the entire market under one
regulatory framework by creating alternate business structures, which will allow
non-lawyers in management and ownership roles. Once the LSA comes into effect,
competition is expected to increase and new entrants in the sector will necessitate better
regulation and robust system to meet their demands.
The application to be developed by TCS will enable The Law Society to manage the
changes brought by LSA by streamlining operations and improving efficiencies. This will be
done by a systematic review of the society’s business processes, information practices and
system needs. This deal marks another foray of TCS in the legal services industry, which is
growing swiftly. We maintain Accumulate on the stock with a Target Price of `1,287.

Angel Broking, News Update: March 4, 2011

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Economic and Political News
􀂄 Food inflation eases to 10.39% from 11.4%
􀂄 Few banks may fall short of meeting Basel III: RBI
􀂄 Railways raises freight rates on iron ore exports by `100/tonne to `1,600
􀂄 Government may free diesel prices if crude touches US $150/barrel

Stocks in News- Edelweiss, 4 March 2011

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Stocks in News

§  Arbitration may clear way for Cairn deal (BS)

§  Cadbury india integrates Kraft brands into system (BS)

§  A tenth of Camlin shares change hands (BS)

§  ONGC FPO deferred to April 5 (BS)

§  Aurobindo alert queers Pfizer’s pitch too (Dna)

§  TCS bags UK Project (Dna)

§  Essar shipping demerger (Dna)

§  CIL extends deadline (Dna)

§  RCom shortlists American Tower, Viom for tower sale (Dna)

FII & DII trading activity on NSE and BSE as on 04-Mar-2011

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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 04-Mar-2011.

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 04-Mar-2011 2699.81 2114.29 585.52

 

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 04-Mar-2011.

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 04-Mar-2011 975.57 1205.35 -229.78

 

 

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Buzzing Stocks - Keynote Capitals (March-4-'11)

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Buzzing Stocks

·      NTPC will appeal in SC against HC order in the case against Italian equipment manufacturer Ansaldo, Ansaldo was disqualified in NTPC's tender for 660MW supercritical boiler.

·      Amrutanjan Healthcare acquires fruit drink brand Fruitnik for `26.2Cr marking its foray in the fruit juice market.

·      PFC may raise up to $1bn of external commercial debt next fiscal.

·      Gati likely to sell its shipping arm Gati coast to a global shipping player valuing at in and around `200-250Cr.

·      Lanco Infratech gets a nod for its 1320 MW coal based thermal power project in Maharashtra.

·      Panacea Biotech entered into an agreement with Laboratorios Clausen, Uruguay for grant of non-exclusive marketing rights of the Company's medicine 'Tacrolimus (Pangraph)' for few markets in Europe.

NSE, Bulk deals, 04-Mar-2011

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Symbol	Security Name	Client Name	Buy / Sell	Quantity Traded	Wght. Avg.  Price
AGRE	Agre Developers Ltd	ADIKARAN FINCOM LTD.	BUY	1,04,000	48.75
AGRE	Agre Developers Ltd	RELIANCE MUTUAL FUND	SELL	60,000	49.30
AMRUTANJAN	Amrutajan Health Ltd	ARCHITA C GADA	BUY	19,746	700.13
AMRUTANJAN	Amrutajan Health Ltd	ARCHITA C GADA	SELL	19,746	701.65
AMRUTANJAN	Amrutajan Health Ltd	CROSSEAS CAPITAL SERVICES PVT. LTD.	BUY	85,512	694.07

Derivative Report -Angel Broking, India Research Mar 04, 2011

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 The Nifty futures’ open interest increased by 0.49% while
Minifty futures’ open interest decreased by 2.54% as
market closed at 5536.20 levels.
 The Nifty March future closed at a premium of 8.50
points, against a premium of 21.55 points in the last
trading session. On the other hand, April future closed at
a premium of 26.90 points.
 The PCR-OI decreased from 1.35 to 1.32 levels.
 The Implied volatility of At-the-money options increased
20.00% to 21.20%.
 The total OI of the market is `1,23,059cr and the stock
futures OI is `29,816cr.
 Few liquid stocks where cost of carry is positive are
NAGARFERT, GTOFFSHORE, KFA, ISPATIND and
KSOILS.

Edelweiss Technical Reflection (ETR) March 4, 2011

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Edelweiss Technical Reflection (ETR)

§  Indian equity markets registered gains for the fourth day in a row and closed above 5500. Nifty is forming higher tops and bottoms since making a low of 5232 in the previous week. Yesterday’s session was fairly volatile as the index oscillated between 5500 for the entire day. The hourly and daily momentum oscillators are comfortably placed in the bullish territory, whereas the hourly moving averages are trading with a bullish crossover. Due to the intraday volatility, market breadth ended marginally in favour of the declines and the Nifty 50 stocks A/D ratio turned neutral at 1:1. The short-term uptrend in Nifty is likely to extend towards 5590-5600 where the 50-DEMA and 200-DEMA are likely to present stiff challenge. In case of a break of the barrier, a burst towards 5635-5650 is in the offing. On the downside the index is well supported at 5435 (50-HEMA) and 5400.

§  Trend among the sectoral indices was mixed. Cap Goods and Auto shares outperformed the market whereas Metals and Oil & Gas witnessed selling activity. BSE Realty index has made a higher top and bottom on the weekly chart suggesting first signs of reversal in the medium term. Bullish Setups: HDFC Bank (HDFCB), LT, Bank of India (BOI), RECL, Shriram Trans (SHTF), NagarCon (NJCC) Bearish Setups: Mundra Port (MSEZ), Educomp (EDSL), TV-18 (TLEI)

§  Gold has broken above the previous all-time high of $1430 well in an uptrend towards the $1550 mark. DXY continues to sink under selling pressure on target to test the strong 75.85 support. Crude Oil is consolidating around $102 (61.8% retracement of the 2008-09 bear market), and will eventually break higher towards $111-$120

India Morning Note - Keynote Capitals (March-4-'11)

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Views on markets today

·      Indian markets continued its winning streak and closed positive yesterday amid volatile trade after easing crude oil prices as well as food inflation to 10.39% and firm global markets after the news that Libyan leader Muammar Gaddafi accepted peace plan to end crisis in North African country. Food inflation fell to 10.39% for week ended February 19, from 11.49% in the previous week, raising hopes that interest rates may not rise steeply in near future. The upward movement was mainly led by gain in capital goods, auto, consumer durables and real estate stocks while metals, oil & gas and IT stocks witnessed some selling pressure. Bajaj Auto gained 1.2% after the company’s sales rose 21.7% while Hindustan Dorr Oliver firmed 3.5% as the company has bagged orders worth `1.28mn from various state-run firms.

·      Market breadth was marginally strong at ~1.01x as investors bought large cap stocks. Both FIIs and domestic institutions bought equities worth `2.29bn and `95.52Cr, respectively.

·      Asian stock markets are higher today following the rally in the US markets overnight and a retreat in oil prices Thursday. Japan's Nikkei Stock Average and the Hang Seng are up more than 1% today.

·      We expect strong opening for the Indian markets as the cues from the global markets are positive. Besides that softening food inflation is another factor to cheer.

Economic and Corporate Developments

·      Food price index rose 10.39% and the fuel price index climbed 12.56% for the week ended 19 February 2011 against 11.49% and 12.14% for the previous week.

·      Sugar Industry appeals again for exports under open general license as the international prices have surged from $690 tonne to $760 tonne.

BSE, Bulk deals, 4/3/2011

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Scrip Code	Company	Client Name	Deal Type *	Quantity	Price **
520123	ABC India	SEARCH INVATRADE PVT LTD	B	65000	147.50
520123	ABC India	METROCHEM INDUSTRIES LIMITED	S	29000	146.70
530713	AJEL	KANODIA INVESTMENT ADVISORY PVT. LTD.	B	100000	12.08
530713	AJEL	TILOTTAMA HOLDINGS PVT.LTD	S	100000	12.08
532351	Aksh Optifibre	D K JAIN	B	1115000	6.00
532351	Aksh Optifibre	DAVINDER KUMAR JAIN	S	1105000	6.00
590006	Amrutanjan Health	H P SHARE SHOPPE	B	17349	695.38

Clients, NRI, Proprietary trading activity 4-Mar-11

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(Rs. crore)	Clients
Trade Date	Buy	Sales	Net
04-03-2011	2,179.86	2,184.88	-5.02
03-03-2011	2,509.04	2,569.49	-60.45
01-03-2011	2,208.06	2,384.14	-176.08
Mar , 11	6,896.96	7,138.51	-241.56
Since 1/1/11	98,919.10	99,536.22	-617.12
(Rs. crore)	NRI
Trade Date	Buy	Sales	Net
04-03-2011	2.44	1.07	1.37
03-03-2011	0.66	0.90	-0.24
40603	0.91	1.00	-0.1
Mar , 11	4.01	2.98	1.03
Since 1/1/11	53.14	41.98	11.16
(Rs. crore)	Proprietary
Trade Date	Buy	Sales	Net
04-03-2011	612.21	616.57	-4.36
03-03-2011	837.84	837.58	0.26
40603	763.20	675.71	87.48
Mar , 11	2,213.25	2,129.86	83.38
Since 1/1/11	29,629.24	29,899.81	-270.57