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02 July 2012
Silver lining in the midst of dark clouds --ShareKhan PDF link
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Week ended June 29, 2012: ICICI Sec Weekly update : Market and Economy
WEEKLY ROUND UP
Global update
• German Chancellor Angela Merkel, in the meeting of four largest Euro zone members – Germany, France, Spain and Italy –
held last Friday, reiterated her opposition to Italy’s proposal of using the bailout funds - EFSF or ESM - to buy sovereign
bonds. Merkel also confirmed her opposition to directly recapitalizing banks.
• In a surprisingly positive development in the EU Summit on Jun 28-29, the leaders have agreed to form a single
supervisory body for banks and allow them to be recapitalized directly using the bailout funds, without adding to
Government debt. Moreover, the countries complying with the EU budget policies would get access to the EFSF and ESM
to gain stability in their bond markets. Meanwhile, Italy and Spain refused to sign off on a EUR 120 bn growth package
until Germany approved short-term measures to ease their cost of credit
India Update
• The measures taken by RBI to stem rupee's fall included increase in the FII limits in bonds to USD 20 bn from USD 15 bn
and extending the limit on ECB borrowings by USD 10 bn for manufacturing and infrastructure sector companies. The RBI
also allowed qualified investors to invest in mutual fund schemes that hold at least 25% of their assets in the
infrastructure sector.
• Prime Minister Manmohan Singh who has also taken over the mandate of a Finance Minister asked officials to formulate
an economic revival plan in part addressing problems in tax policy. Meanwhile, the CBDT released draft guidelines for
GAAR, which said that the rule will not be invoked in case of non-resident investment of FII. Further, the capital market
transactions are also entirely exempted from GAAR provisions.
• Government panel recommended major changes in Diesel subsidy including fixed diesel subsidy and cut in custom and
excise taxes. Indian state run oil marketing companies, on Thursday, decided to cut petrol price by INR 2.46/litre, which
came into effect from Thursday midnight as international oil prices fell to their lowest level since December 2010.
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2 July: Microsec: Weekly Market Report, Outlook and Technical Report.
OUTLOOK
Indian markets closed on a strong footing which were in line with our expectations. With positive vibes from the PM and FM on GAAR and other economic policy, backed by strong global markets towards weekend helped gain in Indian markets. The EU concluded their 2-day meeting with euro-zone leaders agreeing to relax conditions for recapitalizing lenders amid speculation China may do more to help economy grow faster. Cement, Auto and Metal production data and the news-flow on monsoons may hog the limelight during the week, and so shall policy measures from the government. We recommend to BUY M&M, Andhra Bank, Godrej Ind. with trading perspective and Cummins India, Indian Hotels, and IL&FS Transportation with long term investment perspective. We may also BUY on DIPS only L&T, Exide, Castrol, LICHF, TCS.
Regards,
Team Microsec Research
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Auto Sales Update - Slowdown continues; Edelweiss, PDF link
Slowdown persisted in June, especially in cars, two wheelers and MHCVs, though utility vehicles and light commercial vehicles continued to perform well. Tractor sales for Mahindra & Mahindra (M&M) reversed the declining trend with 5% YoY growth. Car sales were affected by the steep hike in petrol prices in May 2012. Maruti Suzuki (MSIL) managed to report decent growth due to favarouble base and recent launches. Tata Motors’ (TTMT) MHCV sales stayed weak due to pre-buying in Q4FY12 and slowdown in the economy. Hero Motocorp’s (HMCL) growth dipped to 4% YoY in the absence of wedding season benefit. We prefer MSIL (an early interest rate cycle play) and M&M (quasi interest rate play with new launches in automotive segment).
FII DERIVATIVES STATISTICS FOR 02-Jul-2012
FII DERIVATIVES STATISTICS FOR 02-Jul-2012 | |||||||
BUY | SELL | OPEN INTEREST AT THE END OF THE DAY | |||||
No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | ||
INDEX FUTURES | 37705 | 984.69 | 39033 | 1026.66 | 496224 | 12874.23 | -41.98 |
INDEX OPTIONS | 318611 | 8370.57 | 308348 | 8079.48 | 1285613 | 33928.32 | 291.09 |
STOCK FUTURES | 48199 | 1328.72 | 51469 | 1380.83 | 879074 | 23551.98 | -52.12 |
STOCK OPTIONS | 23099 | 643.05 | 23100 | 646.21 | 23174 | 664.24 | -3.16 |
Total | 193.83 |
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Engineering & Construction - Railways: The next growth engine; sector update; Edelweiss, PDF link
The Dedicated Freight Corridor (DFC) project is being implemented to speed up rail freight movement via two corridors—Delhi-Mumbai and Delhi-Kolkata—of over 3,322 kms at a cost of over INR800bn-1,000bn over the next five years. Similarly, Delhi Metro, having completed phase I and II, is now targeting completing Phase III by 2016 at a cost of INR352bn. Ergo, we expect these two large projects to generate construction contracts worth INR681bn and systems contracts worth INR350bn. Rolling stock contracts is the additional opportunity for both projects.
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Eagle Eye (equities) [For July 02, 2012] Sharekhan PDF link
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Download Report of Standing Committee On Finance On Companies Bill 2011
Dear Subscriber,
Download Report of Standing Committee On Finance On Companies Bill 2011
The Standing Committee on Finance in the Lok Sabha has delivered a comprehensive report on the Companies Bill 2011. The report was presented to the Hon’ble Speaker of the Lok Sabha on 26.06.2012
Regards,
Editor,
Download Draft General Anti-Avoidance Rules (GAAR) Guidelines
Download Draft General Anti-Avoidance Rules (GAAR) Guidelines
Vide letter dated 28.06.2012, the Director General of Income-tax has issued draft guidelines in respect of the General Anti-Avoidance Rules (GAAR). GAAR is scheduled to become applicable w.e.f. 1.4.2013. The guidelines contain illustrations to explain how the GAAR provisions will apply together the draft of the forms required to be filled in. Comments can be forwarded till 20.07.2012
Regards,
Editor,
FII & DII trading activity across NSE and BSE 02-07-2012
Category | Buy | Sell | Net |
Value | Value | Value | |
FII | 2104.11 | 1513.05 | 591.06 |
DII | 783.2 | 1230.69 | -447.49 |
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Daring Derivatives [For July 02, 2012] Sharekhan PDF link
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NSE, Bulk deals, 02-Jul-2012
Date | Symbol | Client Name | Buy / Sell | Quantity Traded | Wght. Avg. Price | Remarks | |
ARSSINFRA | ARSS Infra Proj. Ltd | HRIDAYNATH CONSULTANCY PRIVATE LIMITED | SELL | 87,246 | 45.53 | - | |
FCH | Future Capital Holdings L | ESSAY COMMERCIAL RESOURCES PVIVATE LIMITED | BUY | 12,50,000 | 156.00 | - | |
FCH | Future Capital Holdings L | SAIN SAMEER SUSHIL | SELL | 12,50,000 | 156.00 | - | |
HOTELRUGBY | Hotel Rugby Ltd. | JAIPRAKASH D AGARWAL | BUY | 97,750 | 17.36 | - | |
HOTELRUGBY | Hotel Rugby Ltd. | JAIPRAKASH D AGARWAL | SELL | 35,397 | 17.09 | - | |
HOTELRUGBY | Hotel Rugby Ltd. | MAUNIK MAHENDRA THACKER | SELL | 1,25,000 | 17.05 | - | |
INDOWIND | Indowind Energy Limited | ASHWINBHAI SURENDRABHAI SHETH | BUY | 10,05,376 | 6.05 | - | |
INDOWIND | Indowind Energy Limited | ASHWINBHAI SURENDRABHAI SHETH | SELL | 10,05,376 | 5.74 | - | |
INDOWIND | Indowind Energy Limited | D & H SECHERON INFRASTRUCTURE PRIVATE LIMITED | BUY | 10,00,000 | 5.50 | - | |
INDOWIND | Indowind Energy Limited | D & H SECHERON INFRASTRUCTURE PRIVATE LIMITED | SELL | 10,00,000 | 6.39 | - | |
INDOWIND | Indowind Energy Limited | MANAV N PATEL | BUY | 7,35,523 | 6.65 | - | |
INDOWIND | Indowind Energy Limited | MANAV N PATEL | SELL | 7,35,523 | 6.58 | - | |
INDOWIND | Indowind Energy Limited | PRASHANT MAHADEV OVHAL | BUY | 24,48,620 | 5.87 | - | |
INDOWIND | Indowind Energy Limited | PRASHANT MAHADEV OVHAL | SELL | 21,39,070 | 5.65 | - | |
INDOWIND | Indowind Energy Limited | SYNDICATE NIRMAN PVT.LTD. | BUY | 5,27,696 | 6.04 | - | |
INDOWIND | Indowind Energy Limited | SYNDICATE NIRMAN PVT.LTD. | SELL | 5,10,696 | 5.76 | - | |
ONMOBILE | OnMobile Global Limited | BIRLA GLOBAL FINANCE COMPANY LIMITED | SELL | 13,79,600 | 29.42 | - | |
ONMOBILE | OnMobile Global Limited | CPR CAPITAL SERVICES LTD. | BUY | 7,47,874 | 30.78 | - | |
ONMOBILE | OnMobile Global Limited | CPR CAPITAL SERVICES LTD. | SELL | 8,09,379 | 30.40 | - | |
ONMOBILE | OnMobile Global Limited | GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD | BUY | 12,00,000 | 29.59 | - | |
ONMOBILE | OnMobile Global Limited | HDFC MUTUAL FUND A/C GROWTH FUND | BUY | 7,04,920 | 29.62 | - | |
ONMOBILE | OnMobile Global Limited | KOTAK MAHINDRA PRIME Ltd. | SELL | 28,80,000 | 30.24 | - | |
ONMOBILE | OnMobile Global Limited | SMALLCAP WORLD FUND INC | SELL | 7,60,292 | 31.11 | - | |
SADBHAV | Sadbhav Engineering Limit | BRIJ REAL ESTATE AND PROPERTY PVT LTD | SELL | 7,80,000 | 148.00 | - |
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BSE, Bulk deals, 2/7/2012
Deal Date | Scrip Code | Company | Client Name | Deal Type * | Quantity | Price ** | ||||
2/7/2012 | 532888 | Asian Granito | SANJAY BHUPENDRA SANGHVI | B | 225000 | 43.40 | ||||
2/7/2012 | 532888 | Asian Granito | AGL INFRASTUCTURE PRIVATE LIMITED | S | 225000 | 43.40 | ||||
2/7/2012 | 531591 | Bampsl Sec | PARVEEN KUMAR | B | 1625100 | 1.08 | ||||
2/7/2012 | 531648 | Croitre Inds | ESQUIRE ENCLAVE PRIVATE LIMITED | B | 39600 | 74.51 | ||||
2/7/2012 | 531648 | Croitre Inds | RAKESH DUA | B | 52200 | 77.28 | ||||
2/7/2012 | 531648 | Croitre Inds | YOGESH AGARWAL | S | 43500 | 78.50 | ||||
2/7/2012 | 511682 | IFL Promoters | BHAGWAN SAHAI SHARMA | B | 90000 | 5.03 | ||||
2/7/2012 | 511682 | IFL Promoters | ADVANCE INDIA SHARES AND SECURITIES PRIVATE LIMITED | S | 75200 | 5.02 | ||||
2/7/2012 | 511682 | IFL Promoters | NORTH INDIA SECURITIES PVT LTD | S | 90001 | 5.03 | ||||
2/7/2012 | 514312 | Jaihind Syn | DARSHANA VIPUL VIKAM | B | 25000 | 15.70 | ||||
2/7/2012 | 511638 | Madhur Capital | SHALIN VINITBHAI PARIKH | S | 58000 | 11.04 | ||||
2/7/2012 | 531453 | Mohit Inds-$ | DIPESH NALINBHAI DAVE | B | 70000 | 48.50 | ||||
2/7/2012 | 531453 | Mohit Inds-$ | VINODKUMAR B TIBREWALA | B | 79100 | 48.34 | ||||
2/7/2012 | 530971 | Nimbus Inds | RAJESH MOHANBHAI PATEL | S | 50000 | 8.85 | ||||
2/7/2012 | 532944 | Onmobile Global | KOTAK MAHINDRA PRIME LIMITED | S | 600000 | 29.65 | ||||
2/7/2012 | 505525 | Parichay Invest | PARESH RAMJIBHAI CHAUHAN | S | 6010 | 206.45 | ||||
2/7/2012 | 526823 | Rajeswari Found | BHAVESH SHANTILAL TRIVEDI | B | 28000 | 16.75 | ||||
2/7/2012 | 526823 | Rajeswari Found | PRANAV NARENDRA BHATT | S | 28000 | 16.75 | ||||
2/7/2012 | 526823 | Rajeswari Found | BHAVESH SHANTILAL TRIVEDI | S | 28604 | 15.90 | ||||
2/7/2012 | 531207 | Raymed Labs | SHAILESH NATVARLAL GANDHI | B | 35200 | 26.61 | ||||
2/7/2012 | 531646 | RFL Intl | SHAH VIPUL NIRANJAN | B | 28299 | 7.50 | ||||
2/7/2012 | 531646 | RFL Intl | PRAGATI SHARES & STOCK SERVICES PRO.NARESH NAGINDAS SHAH | S | 30000 | 7.50 | ||||
2/7/2012 | 512529 | Sequent Scientific | MANKEKAR SHIVANAND S | B | 543000 | 107.00 | ||||
2/7/2012 | 512529 | Sequent Scientific | OM KEDAR INVESTMENTS | S | 543000 | 107.00 | ||||
2/7/2012 | 511754 | Shalibhadra Fin | ROMESH ANILBHAI SHAH | S | 29700 | 57.38 | ||||
2/7/2012 | 531695 | SHREYCHEM | TOGADIYA HARESHBHAI MADHABHAI | B | 54848 | 61.20 | ||||
2/7/2012 | 531695 | SHREYCHEM | ARSENAL FINSTOCK SERVICES PRIVATE LIMITED | B | 40691 | 60.52 | ||||
2/7/2012 | 531695 | SHREYCHEM | KAMLESH DINESHBHAI VARMORA | S | 35000 | 62.00 | ||||
2/7/2012 | 531695 | SHREYCHEM | PRAFULCHANDRA CHIMANLAL VORA HUF | S | 35000 | 62.00 | ||||
2/7/2012 | 531013 | Sun Granite | RAMESH CHANDRA MISHRA | B | 244200 | 5.41 | ||||
2/7/2012 | 531013 | Sun Granite | AJAY MULTI PROJECTS LIMITED | S | 169000 | 5.41 | ||||
2/7/2012 | 531013 | Sun Granite | V R M SHARE BROKING PVT LTD | S | 75000 | 5.41 | ||||
2/7/2012 | 531499 | Sybly Inds-$ | BAMPSL SECURITIES LTD | B | 3360000 | 0.62 | ||||
2/7/2012 | 531499 | Sybly Inds-$ | PARVEEN KUMAR | S | 2275000 | 0.62 | ||||
2/7/2012 | 590111 | VAISHNAVI | PARVATHANENI VENKATA SIVA GANGADHARA RAO | B | 138864 | 5.14 | ||||
2/7/2012 | 531874 | Venus Power Ventures | DHANA ENERGY PRIVATE LIMITED | S | 108000 | 24.16 | ||||
* B - Buy, S - Sell | ||||||||||
** = Weighted Average Trade Price / Trade Price |
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