Falling rupee to shave Rs 4,000 cr off Nifty cos: Crisil (rediff)

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Credit rating agency Crisil on Wednesday said depreciation in the rupee will shave off up to Rs 4,000 crore (Rs 40 billion) from the profits of Nifty companies in the December quarter.

"Because of a further 8 per cent depreciation of the rupee against the dollar in this quarter, companies are likely to report further foreign exchange losses of Rs 3,500 (Rs 35 billion) to 4,000 crore (Rs 40 billion) in the quarter," Crisil head for industry and customised research, Prasad Koparkar said in a report.

The agency said that even in the July-September quarter, 42 of the 50 companies on the National Stock Exchange's index Nifty lost Rs 4,800 crore (Rs 48 billion) or close to 8 per cent of their profits before taxes due to the rupee's fall.

The rupee has been one of the worst performing currencies globally, having ceded around 18 per cent to the US dollar since August.

As the concerns mount, the Reserve Bank had to intervene in the market by selling part of its $300 billion reserves to curb the volatility, besides clamping down on traders.

"Demand for the dollar increased due to repayment pressures on private foreign debts and the rising import bill.

"But supply failed to keep pace as foreign inflows dwindled due to rising risks in the Eurozone.

"The resultant mismatch led to the sharp fall of the rupee," the agency's chief economist Dharmakirti Joshi said.

The companies' profits will get dented due to the high level of foreign debt on its books, Crisil said in a note, adding the cumulative foreign currency debt is an estimated Rs 1.5 trillion or about 24 per cent of their total outstanding.

Sectors like oil refining and marketing, telecom and steel, which have a fourth of their debt in foreign currency, are likely to get affected, it said.

For crude oil import dependent oil refining sector, the troubles will be compounded, it added.

In contrast, export-oriented sectors like IT and pharma, which also have low debt levels, are expected to gain from the rupee depreciation, Crisil said.

2011: Investors lost Rs 20,000,000,000,000 in stocks (rediff)

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In a departure from big gains in the past two years, investors saw around Rs 20 lakh crore of their wealth eroded as Indian equities tanked in 2011 because of inflation, high interest rates and the uncertain global growth environment accentuated by the euro zone debt crisis.

In addition, the rupee fell to historic lows against the US dollar, hitting the country's import bill.

The bellwether indices of the Bombay Stock Exchange as well as the National Stock Exchange fell by over 26 per cent during the course of the year, touching new lows.

The 30-scrip BSE Sensex was down by 5,334.01 points, or over 26 per cent, at 15.175.08 on December 20, against last year's close of 20,509.09.

Similarly, the 50-share Nifty witnessed a hefty fall of 1,590.30 points, or 25.92 per cent, to 4,544.20 on December 20 from last year's close.

There has been some recovery since then, with the Sensex closing at 15,873.95 and the Nifty at 4,750.50 yesterday, but market experts say investors remain cautious on India.

Globally, the deepening European debt crisis and a historic downgrade of US creditworthiness hit the economic growth sentiment. Besides, political turmoil in the Middle East pushed up global crude oil prices, adding to inflationary pressures and pushing up the country's import bill.

FIIs, the main drivers of the market, turned negative on Indian equities this year and after having injected a record Rs 1,33,266 crore, or over $29.36 billion, in 2010, pulled out Rs 2,497.50 crore, or $318.00 million, from equities till December 19.

Meanwhile, as per Sebi data, they pumped in Rs 39,637.50 crore, or over $8.2 billion, into the debt market till December 19.

The Sensex had gained 7,817.50 points, or 81.03 per cent, in 2009 -- the highest rise in any one year in absolute terms -- while it spurted by another 3,044.28 points, or 17.43 per cent, in 2010. 

The Nifty also had soared by 2,241.90 points, or 75.76 per cent, in 2009, followed by 933.45 points, or17.95 per cent, last year.

Fears of a global economic slowdown and domestic troubles with inflation, interest rates, lack of reforms and the falling rupee made investors cautious in 2011, especially during the last quarter.

Aggressive offloading resulted in 12 of the 13 sectoral indices closing in the red, with some of them hitting 52-weeklows during 2011. 

Only the BSE-FMCG gained, but just about 9 per cent up to last week.

In a bid to tame swollen inflation, the Reserve Bank of India hiked key lending rates 13 times in 19 months. 

It also cut the GDP growth forecast for the current fiscal to 7.6 per cent from 8 per cent projected earlier.

However, in the mid-quarter monetary policy review on December 16, the RBI left the lending rate unchanged to support faltering economic growth amid hopes that inflation will begin to fall after hovering close to double digits most of the year. 

The sustained rise in interest rates dented the investor sentiment on fears that it would hit corporate profitabilitybecause of the high cost of borrowing, besides slowing down consumer demand.

Rate-sensitive realty, banking and auto stocks suffered a sharp setback. The metal sector, too, was at the receiving end due to a big fall in commodity prices in the absence of demandin global markets.

Ambani brothers re-unite?

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BSE, Bulk deals, 28/12/2011

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Deal Date	Scrip Code	Company	Client Name	Deal Type *	Quantity	Price **
28/12/2011	500008	Amara Raja	BEAVER INVESTMENT HOLDINGS	B	600174	200.00
28/12/2011	531519	Ankush Finstock	INDERNEIL NAVJIT GREWAL	B	50000	7.02
28/12/2011	531519	Ankush Finstock	NIROOLA ABHIMANYU R	B	50000	7.02
28/12/2011	531519	Ankush Finstock	RAJENDRA RATILAL SHAH HUF	S	50000	7.02
28/12/2011	531519	Ankush Finstock	KALPANA RAJENDRA SHAH	S	50000	7.02
28/12/2011	531568	Ashutosh Paper	RAMRAJYA PROJECTS	B	56500	168.13
28/12/2011	531568	Ashutosh Paper	SARA INTERNATIONAL LTD	B	48800	169.98
28/12/2011	531568	Ashutosh Paper	ANITA KUMAR	B	150000	170.02
28/12/2011	531568	Ashutosh Paper	SALASAR TECHNO ENGINEERING PRIVATE LIMITED	S	242700	170.00
28/12/2011	524606	Beryl Drugs	MOUNTVIEW VINTRADE PVT LTD	B	36363	16.01
28/12/2011	524606	Beryl Drugs	JASMINE DEALCOM PRIVATE LIMITE	S	33240	15.95
28/12/2011	502219	Borosil Glass	BOROSIL GLASS WORKS LIMITED BUY BACK	B	34400	850.00
28/12/2011	511720	Capman Fin	GOODWEALTH FINANCE CO.PVT.LTD	B	26000	9.15
28/12/2011	511672	Clarus Finance	RAMRAJYA PROJECTS	B	105000	63.55
28/12/2011	511672	Clarus Finance	SCOPE VYAPAR PRIVATE LIMITED	S	200000	63.55
28/12/2011	511672	Clarus Finance	OVERALL VINCOM PRIVATE LIMITED	S	105000	63.55
28/12/2011	533011	CORALHUB	SONAL SHARES INVESTMENT & COMPANY(MEET SUMANBHAI PATEL)	S	180000	3.56
28/12/2011	531270	Dazzel Conf	PREMIER EXIM SERVICES PRIVATE LIMITED	S	873081	2.15
28/12/2011	531695	Dhvanil Chem	NARENDRASINH KARANSINH RANA	B	42100	28.42
28/12/2011	531695	Dhvanil Chem	RACHNA DHIRAJLAL KYADA	S	43000	28.02
28/12/2011	508860	DIAMANT	ANIMESH KANJIBHAI PATEL	B	182646	8.92
28/12/2011	508860	DIAMANT	JINAL APURVA RAWAL	S	240000	8.92
28/12/2011	524590	Dinesh Allorga	RAKESHKUMAR K PATEL	B	23000	51.07
28/12/2011	531137	Gemstone Invest	JIGAR PRAFUL GHOGHARI	S	521500	8.00
28/12/2011	509148	Govind Rubber-$	SUNITA VINOD PODDAR	B	1750000	9.55
28/12/2011	509148	Govind Rubber-$	BEETEE TEXTILE INDUSTRIES LTD.	S	1750000	9.55
28/12/2011	524754	Gujarat Medi	GOLD DUST TRADING CO	B	202598	20.30
28/12/2011	524754	Gujarat Medi	INDU JAIN	S	40600	20.30
28/12/2011	524754	Gujarat Medi	ANIL BHARGAVA	S	30500	20.30
28/12/2011	524754	Gujarat Medi	ANIL BHANDARI	S	120000	20.30
28/12/2011	530165	Kanchan Intl	ARVIND BABULALJI GOYAL	B	28247	67.94
28/12/2011	530165	Kanchan Intl	TARACHAND MOOLCHAND AGRAWAL	S	24000	67.95
28/12/2011	530165	Kanchan Intl	ARVIND BABULALJI GOYAL	S	28000	67.79
28/12/2011	531401	Khodiyar Inds	SHYAM SUNDER VAIDYA	S	50000	5.39
28/12/2011	531255	Paragon Fin	MAHANT VANIJYA PVT LTD	B	25000	14.25
28/12/2011	531255	Paragon Fin	CONSISTENT VYAPAAR PRIVATE LIMITED	S	25000	14.25
28/12/2011	531769	PFL Infotech	KASTURI TOWERS LTD	B	102120	121.75
28/12/2011	531769	PFL Infotech	K D JAG HOLDINGS PVT LTD	B	41000	121.75
28/12/2011	531769	PFL Infotech	HIGH VALUE TRADERS PVT LTD	B	45000	121.75
28/12/2011	531769	PFL Infotech	VISTA FOOD PROODUCT PRIVATE LIMITED	B	44250	121.75
28/12/2011	531769	PFL Infotech	P.R.B.SECURITIES PVT LTD	B	55000	121.75
28/12/2011	531769	PFL Infotech	SUSHILA KAVUR	B	74000	121.75
28/12/2011	531769	PFL Infotech	RAKESH KUMAR CHORDIA	B	80000	121.75
28/12/2011	531769	PFL Infotech	KIRAN BHIKU BHANAES	S	123000	121.75
28/12/2011	531769	PFL Infotech	SIDHARTH RATANLAL BAFNA	S	45312	121.75
28/12/2011	531769	PFL Infotech	TRIPURARI PROPERTIES PRIVATE LIMITED	S	123595	121.75
28/12/2011	531769	PFL Infotech	VITAL VINTRADE PRIVATE LIMITED	S	100000	121.75
28/12/2011	531769	PFL Infotech	APPEAR COMMODEAL PRIVATE LIMITED	S	50000	121.75
28/12/2011	531769	PFL Infotech	SATYAM RETAILS PRIVATE LIMITED	S	50000	121.75
28/12/2011	531746	Prajay Engr	ACACIA CONSERVATION FUND LP	B	494999	3.96
28/12/2011	526823	Rajeswari Found	AMIT KAMAL BHARGAV	B	25200	30.31
28/12/2011	526823	Rajeswari Found	PRADEEP NARENDRA BHATT	S	32300	30.36
28/12/2011	532665	Rajvir Inds	SUMAN KHEMKA	B	20000	88.00
28/12/2011	532665	Rajvir Inds	PREM PRAKASH KHEMKA	S	21000	87.95
28/12/2011	500357	Rama Paper	PKA PROJECTS PVT.LTD.	B	70505	25.47
28/12/2011	500357	Rama Paper	VORA FINANCIAL SERVICES PRIVATE LIMITED	S	42836	25.26
28/12/2011	531207	Raymed Labs	MATHEW CHACKO	B	69000	29.00
28/12/2011	531207	Raymed Labs	RITU ASHISH AGARWAL	S	40000	29.00
28/12/2011	531447	ROCKON FIN	GSR TECHNO CONSULTANCY PRIVATE LIMITED	B	2700000	5.05
28/12/2011	531447	ROCKON FIN	VISHWAMBHARLAL KANAHIYALAL BHOOT	B	1080000	5.08
28/12/2011	531886	SCOPE IND	PARSHWA GIRISH DOSHI	B	40000	14.55
28/12/2011	531886	SCOPE IND	REDDY SREENIVAS KALLEM	S	60499	14.55
28/12/2011	533268	Sea TV Network	PRUDENT BROKING SERVICES PRIVATE LIMITED	B	62850	16.33
28/12/2011	533268	Sea TV Network	SONAL SHARES INVESTMENT & COMPANY(MEET SUMANBHAI PATEL)	S	280775	16.31
28/12/2011	532419	Smartlink Net	KAMALAKSHA RAMA NAIK	B	249674	52.89
28/12/2011	532419	Smartlink Net	ALPHAPLUS COMMODITIES PRIVATE LIMITED	S	167663	52.75
28/12/2011	590111	VAISHNAVI	CHANDRA SEKHARA RAO BATTULA	B	90000	8.46
28/12/2011	502589	Vapi Paper	MADHAV HARIDAS ASHER	B	13000	16.20
28/12/2011	502589	Vapi Paper	RESHMI TREXIM PVT LTD	S	15000	16.20
28/12/2011	503657	Veer Energy	SONAL SHARES INVESTMENT & COMPANY(MEET SUMANBHAI PATEL)	S	461924	2.32
28/12/2011	533427	VMS Inds	KAUSHIK SHAH SHARES & SEC. LTD	B	130626	26.00
28/12/2011	533427	VMS Inds	TRIPURARI PROPERTIES PRIVATE LIMITED	S	90656	26.00
28/12/2011	531249	Well Pack Papers	SONAL SHARES INVESTMENT & COMPANY(MEET SUMANBHAI PATEL)	S	530154	2.52
* B - Buy, S - Sell
** = Weighted Average Trade Price / Trade Price

28/12/11: Categories Turnover (Rs. crore) Clients NRI Proprietary Trade Data

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Categories Turnover

(Rs. crore)
	Clients			NRI			Proprietary
Trade Date	Buy	Sales	Net	Buy	Sales	Net	Buy	Sales	Net
28/12/11	868.48	840.76	27.71	0.24	0.64	-0.40	280.90	285.11	-4.21
27/12/11	839.14	825.57	13.57	0.28	0.26	0.02	273.82	284.78	-10.96
26/12/11	888.50	873.89	14.61	0.29	0.33	-0.04	290.69	275.96	14.72
Dec , 11	23,673.75	23,474.20	199.55	9.10	9.68	-0.58	8,152.37	8,118.48	33.89
Since 1/1/11	466,408.69	470,666.65	-4,257.96	320.67	225.92	94.76	137,375.22	136,641.36	733.86