"Muddling through" the European debt crisis is no longer an option: Fundamental decisions must be taken, explained Credit Suisse Research Institute members and senior advisors at the recent bi-annual meeting in London. They agreed that although the announcements from the latest EU summit indicate concrete steps towards closer political and economic union, structural reforms and tightening of fiscal budgets are among further, long-term measures required to guarantee the union’s stability. "
06 July 2012
Pharmaceuticals-Q1FY13 result preview - Momentum persists : Edelweiss,
We expect the pharma universe to sustain its strong growth trajectory with core margins likely to remain steady sequentially. We see pressure on earnings due to MTM forex losses (result of a sharp INR depreciation) and higher tax rates. Within geographies, we see a strong surge in the US market from limited competition launches and continued exclusivity sales of Ziprasidone/Lipitor. We also expect a firm traction for Sun Pharma (SUNP), Lupin (LPC), Dr. Reddy’s (DRRD) and Cipla among large caps and Glenmark in the mid-cap space. ARBP should also report improved margins.
FII & DII trading activity across NSE and BSE 06-07-2012
| Category | Buy | Sell | Net | |||||
| Value | Value | Value | ||||||
| FII |
| 1344.07 | 571.77 | |||||
| DII |
| 1083.27 | -223.47 |
BSE, Bulk deals, 6/7/2012
| Deal Date | Scrip Code | Company | Client Name | Deal Type * | Quantity | Price ** | ||||
| 6/7/2012 | 531560 | Aroma Enterprises | SAVAN NANDKUMAR BHATEWARA | S | 38728 | 16.38 | ||||
| 6/7/2012 | 533163 | Arss Infra Proj | Quadeye Securities Pvt Ltd | B | 97067 | 50.62 | ||||
| 6/7/2012 | 533163 | Arss Infra Proj | Quadeye Securities Pvt Ltd | S | 98008 | 50.72 | ||||
| 6/7/2012 | 512301 | Chambal Brew | RAVI OMPRAKASH AGRAWAL | S | 38700 | 94.26 | ||||
| 6/7/2012 | 531648 | Croitre Inds | MAHAN TRADING PRIVATE LIMITED | B | 37000 | 77.43 | ||||
| 6/7/2012 | 533333 | Fineotex Chem | ECONOMIC BUILDTECH PRIVATE LIMITED | B | 94000 | 36.96 | ||||
| 6/7/2012 | 533333 | Fineotex Chem | CIVIC MARKETING PRIVATE LIMITED | S | 89745 | 36.98 | ||||
| 6/7/2012 | 532642 | Jindal South | ACACIA BANYAN PARTNERS | B | 80500 | 651.75 | ||||
| 6/7/2012 | 532642 | Jindal South | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | B | 158781 | 660.24 | ||||
| 6/7/2012 | 532642 | Jindal South | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | S | 158393 | 657.81 | ||||
| 6/7/2012 | 532642 | Jindal South | ACACIA PARTNERS L.P | S | 80500 | 651.75 | ||||
| 6/7/2012 | 530165 | Kanchan Intl | HEENA BIPIN SHAH | S | 27000 | 62.73 | ||||
| 6/7/2012 | 531206 | Kwality Cred | KISHAN KUMAR JAJODIA | S | 26662 | 51.80 | ||||
| 6/7/2012 | 505525 | Parichay Invest | VIPIN KUMAR GARG | B | 6050 | 220.95 | ||||
| 6/7/2012 | 505525 | Parichay Invest | VIRENDRAKUMAR JAYANTILAL PATEL | S | 6802 | 221.44 | ||||
| 6/7/2012 | 500333 | Pix Trans | STERLING INVESTMENT | B | 253775 | 38.24 | ||||
| 6/7/2012 | 500333 | Pix Trans | RAJESH MANHARLAL SANGHVI | S | 250000 | 38.25 | ||||
| 6/7/2012 | 513403 | PM Telelinnks | YADAV VISHNU CHHATTARSINGH | B | 52209 | 160.47 | ||||
| 6/7/2012 | 531467 | Polypro Fibrils | HARRODS TRADING PRIVATE LIMITED | B | 105000 | 12.52 | ||||
| 6/7/2012 | 531467 | Polypro Fibrils | STATUS EQUITY AND FINANCE PVT LTD | S | 176000 | 12.50 | ||||
| 6/7/2012 | 531611 | Prraneta Inds | THINK BULL PRIVATE LIMITED | B | 1175329 | 0.78 | ||||
| 6/7/2012 | 523445 | Reliance Indl Infra | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | B | 100882 | 453.01 | ||||
| 6/7/2012 | 523445 | Reliance Indl Infra | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | S | 100882 | 452.97 | ||||
| 6/7/2012 | 531646 | RFL Intl | SHAH VIPUL NIRANJAN | B | 50000 | 8.30 | ||||
| 6/7/2012 | 531646 | RFL Intl | SONAL INTERNATIONAL LTD | S | 50000 | 8.30 | ||||
| 6/7/2012 | 511754 | Shalibhadra Fin | ROMESH ANILBHAI SHAH | B | 50000 | 59.21 | ||||
| 6/7/2012 | 511754 | Shalibhadra Fin | JIGNESHKUMAR HARSHVADAN GANDHI | B | 26530 | 59.11 | ||||
| 6/7/2012 | 530219 | SHREEYASH | MAYUR NARAYANDAS DARJI | S | 30974 | 23.50 | ||||
| 6/7/2012 | 531695 | SHREYCHEM | VINODBHAI KANJIBHAI SAVALIYA | B | 50000 | 57.17 | ||||
| 6/7/2012 | 531695 | SHREYCHEM | VINODBHAI KANJIBHAI SAVALIYA | S | 50000 | 55.47 | ||||
| 6/7/2012 | 531295 | Sunlake Resorts | DHAVAL A SHAH | S | 51600 | 4.54 | ||||
| 6/7/2012 | 531295 | Sunlake Resorts | VIJAYA VASANT GAWAS | S | 40500 | 4.50 | ||||
| 6/7/2012 | 532874 | Suryachakra Pow | SYNDICATE NIRMAN PRIVATE LIMITED | B | 1070144 | 1.51 | ||||
| 6/7/2012 | 532874 | Suryachakra Pow | RITA RAJKUMAR SINGH | B | 1000000 | 1.51 | ||||
| 6/7/2012 | 532874 | Suryachakra Pow | SYNDICATE NIRMAN PRIVATE LIMITED | S | 1070144 | 1.51 | ||||
| 6/7/2012 | 526139 | Transgene Bio | PRASHANT MAHADEV OVHAL | B | 487335 | 21.47 | ||||
| 6/7/2012 | 526139 | Transgene Bio | PRASHANT MAHADEV OVHAL | S | 487335 | 20.80 | ||||
| 6/7/2012 | 590111 | VAISHNAVI | SHARMILA PARVATANENI | B | 120250 | 5.14 | ||||
| 6/7/2012 | 531574 | VAS Infra | MANISH RAMESHBHAI VYAS | S | 84737 | 35.27 | ||||
| 6/7/2012 | 526441 | Vision Tech | SRINIVAS KARROTHI | B | 165789 | 8.17 | ||||
| 6/7/2012 | 503675 | WAGEND | AASHISH DEVELOPER | B | 230000 | 65.75 | ||||
| 6/7/2012 | 506720 | ZANDUREALTY | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | B | 4427 | 1700.53 | ||||
| 6/7/2012 | 506720 | ZANDUREALTY | CROSSEAS CAPITAL SERVICES PRIVATE LIMITED | S | 4427 | 1697.01 | ||||
| * B - Buy, S - Sell | ||||||||||
| ** = Weighted Average Trade Price / Trade Price | ||||||||||
NSE, Bulk deals, 06-Jul-2012
| Date | Symbol | Client Name | Buy / Sell | Quantity Traded | Wght. Avg. Price | Remarks | |
| 3IINFOTECH | 3i Infotech Limited | SHREE AERAN MARKETING PVT. LTD. | BUY | 12,51,202 | 12.52 | - | |
| 3IINFOTECH | 3i Infotech Limited | SHREE AERAN MARKETING PVT. LTD. | SELL | 12,28,254 | 12.53 | - | |
| ATLASCYCLE | Atlas Cycles (Haryana) Lt | MUKUL AGRAWAL | BUY | 20,068 | 406.98 | - | |
| GLOBUSSPR | Globus Spirits Limited | FRANKLIN TEMPLETON MUTUAL FUND | SELL | 1,50,151 | 96.00 | - | |
| JINDALSWHL | Jindal SouthWest Hold Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | BUY | 1,58,393 | 656.93 | - | |
| JINDALSWHL | Jindal SouthWest Hold Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | SELL | 1,58,781 | 660.11 | - | |
| JISLDVREQS | Jain DVR Equity Shares | RAIMA EQUITIES PRIVATE LIMITED | BUY | 57 | 43.19 | - | |
| JISLDVREQS | Jain DVR Equity Shares | RAIMA EQUITIES PRIVATE LIMITED | SELL | 99,403 | 43.87 | - | |
| LITL | Lanco Infratech Limited | SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED | BUY | 181,70,021 | 16.23 | - | |
| LITL | Lanco Infratech Limited | SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED | SELL | 184,56,021 | 16.22 | - | |
| RIIL | Reliance Indl Infra Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | BUY | 1,00,843 | 452.63 | - | |
| RIIL | Reliance Indl Infra Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | SELL | 1,00,843 | 453.18 | - | |
| RIIL | Reliance Indl Infra Ltd | SHREE NAMAN SECURITIES & FINANCE PVT. LTD | BUY | 1,03,934 | 453.02 | - | |
| RIIL | Reliance Indl Infra Ltd | SHREE NAMAN SECURITIES & FINANCE PVT. LTD | SELL | 1,00,210 | 452.63 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | CHETAN MUKUNDRAI PAREKH | BUY | 2,52,050 | 16.54 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | CHETAN MUKUNDRAI PAREKH | SELL | 2,51,496 | 16.38 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | GAJRIA JAYNA PRECISION INDVSTRIES PRIVATE LIMITED | SELL | 1,97,486 | 15.90 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | HITEN CHANDRAKANTBHAI PARMAR | SELL | 2,87,965 | 16.52 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | JAGMALBHAI V VIRDA | BUY | 1,26,861 | 16.85 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | JAGMALBHAI V VIRDA | SELL | 1,26,861 | 17.42 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | JIGNESH DILIPBHAI RANGOONWALA | SELL | 1,40,159 | 16.26 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | MANAV N PATEL | BUY | 12,80,980 | 17.86 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | MANAV N PATEL | SELL | 12,80,980 | 17.60 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | PRANAV BIPINCHANDRA TRIVEDI | SELL | 1,79,954 | 16.52 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | PRASHANT ASHOK GAMRE | BUY | 3,97,919 | 16.21 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | PRASHANT ASHOK GAMRE | SELL | 3,97,120 | 15.88 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | SHARE HOUSE (P) LTD. | BUY | 1,31,667 | 17.20 | - | |
| TEXMOPIPES | Texmo Pipe & Products Ltd | SHARE HOUSE (P) LTD. | SELL | 1,30,867 | 17.45 | - | |
| ZANDUREALT | Zandu Realty Limited | CROSSEAS CAPITAL SERVICES PVT. LTD. | BUY | 4,520 | 1692.67 | - | |
| ZANDUREALT | Zandu Realty Limited | CROSSEAS CAPITAL SERVICES PVT. LTD. | SELL | 4,365 | 1695.49 | - |
Jain Irrigation Systems Ltd. Rs 86 Reaping benefits from Business Re-structuring BUY:: KRChoksey,
Jain Irrigation (JI) is India’s largest player in micro irrigation with a market share of 55% and 35% in drip and sprinkler irrigation respectively. Globally it ranks second to Israel’s netafim. Additionally JI is a leading player in PVC pipes (15% market share), PE pipes (30% market share), PVC sheets, Onion & Vegetable Dehydration and Fruit processing. We are positive on the current business strategy of the company to focus on strengthening balance sheet over the next 12 to 18 months.
Know your transaction charges: Business Line
My statement says that a transaction charge of Rs 100 has been deducted from my investment. What is a transaction charge and when does it apply?
Q1FY13 Result Preview - Another rundown quarter: Edelweiss Research PDF link
We expect Q1FY13 to be yet another quarter of lacklustre growth. A perceptible slowdown in macro-environment is likely to result in another sub-10% earnings growth for the Sensex universe as well as our coverage universe (ex-OMCs). What is further disconcerting is the continued weakness in earnings breadth—almost a quarter of companies under coverage are expected to post an earnings decline of more than 20.0%. The drawdown of revenue trajectory continues with topline growth expected to come in at 16.6% for coverage universe (ex OMCs) and 15.5% for Sensex. Importantly, however, we expect EBITDA margins to improve sequentially, as in a slowing demand scenario, businesses adjust by shifting focus from growth to profitability through cost rationalisation.
Thermax:FY12 Annual Report - Key takeaways :: religare research,
FY12 Annual Report takeaways
Key takeaways from TMX’s FY12 annual report are: (1) working capital in FY12
continued to be higher than the historical trend on weakness in order inflows and
increase in receivable days, 2) profitability for the group was impacted by losses in
subsidiaries even as Danstroker grew ahead of expectations and 3) annual report
commentary emphasises on scale-up in exports (26%/22% of consol./standalone
sales) and services (12%/5% of consol./standalone sales) to counter the slowdown in
the domestic Power business. In our opinion, order inflows/earnings are unlikely to
surprise positively in H1FY13E, however valuations are likely to follow business
confidence indices. Maintain BUY.
Book Profits - Tata Sponge - Value Pick- Anand Rathi
Tata Sponge – Value Pick was initiated on 20Th Jan 2012 at a price of 253. CMP is 339, total returns of 34% till date.
Currently there is also Open offer, where promoters are interested to raise their stake.
Therefore we suggest the investors to tender to the open offer which is at a price of Rs. 375 which is at a good premium.
Recently the company also gave a good dividend of Rs. 8 which shows a total return of 37% till date on our call. We suggest clients to book profits/ tender to the open offer as we would like to close our call.
Pending Calls that look good to reach targets…
Gilts trade weak; LAF moves further into comfort zone • Edelweiss
Gilts trade weak; LAF moves further into comfort zone
• In the absence of any fresh triggers other than the auction tomorrow, gilts traded with a
negative bias through the session though movement was limited. The lukewarm response
at yesterday’s FII debt limit auction also dampened spirits to an extent.
• The 10-Y benchmark paper traded in a narrow-range of 8.16-8.18% and closed the day at
8.18% vs 8.16%. Tomorrow’s session will be underlined by the outcome of the INR 150bn
auction as participants await the impact of another OMO-free week.
• The OIS market also traded in a cautious fashion awaiting the outcome of the ECB policy
decision. The 1-Y OIS ended the day flat at 7.76-7.82%, while the 5-Y OIS was also flat at
7.18-7.24%.
Non-SLR Market
SBT placed 3M CD worth INR 2bn @ 8.93%. Union Bank of India placed 1Y CD worth INR 2bn
@ 9.37%. CPCL placed 3M CP worth INR 2bn @ 9.05%.
Money Market
LAF borrowing which plunged yesterday continued to surprise as demand at this window
was under INR 150bn today. If this unexpected easing of the liquidity situation sustains, it
will clearly soften the pressure on the RBI to aggressively pursue OMO activity. Call rates
also moved in sync with this trend and borrowing WAR once again approaches the repo rate
– WAR was at 8.05% vs 8.16%.
Divert surplus to prioritised goals : Business Line
I am 42 years old and my wife is 37. Our combined salary is Rs 40,000 per month. My son is studying in class eight. I live in my own house and had taken a loan for its construction. Our current outstanding mortgage amount is Rs 10.65 lakh which will be repaid by 2021. My monthly EMI is Rs 9,100.
Our monthly expense is Rs 25,000. It includes home loan EMI, LIC contribution of Rs 1,300 with sum insured of Rs 1 lakh for self (maturing in 2018), spouse (2019) and son (2026) and school fees of Rs 1,300.
Till recently, our surplus was spent in meeting my MBA expenses and my wife’s Ph.D degree costs. From next month, we will have monthly a surplus of Rs 10,000 and it is likely to increase once she completes her higher studies.
My future requirements are: Rs 10 lakh (in present value) for my son’s higher education in 2017 and Rs 5 lakh for his marriage in 2025.
We wish to save for our retired life and we expect to live till 75.
Our PF balance is Rs 4 lakh. My monthly EPF contribution is Rs 900 while that of my wife’s is Rs 930.
What should I do to achieve my goals with the present level of income? How much investment should be made in equity, debt funds and gold? .
My family is not covered by any health policy. I have a cover for Rs 1 lakh from my employer.
— Kannan
Edelweiss Technical Reflection (ETR) 6 July
Indian markets climbed higher for the third consecutive session albeit with marginal gain of 0.47%. The bias remained upwards for the Nifty throughout the session yesterday as it managed to breach previous couple of days’ resistance of 5317 and maintained strength to close above the technical and psychological barrier of 5300. Volumes continue to clock at an average rate and the market breadth was favoring the advances. Upside momentum seems to be losing strength in the short-term as RSI and Stochastic (oscillators) test the overbought territory, warning of profit taking. Since we are in the final session of the week, it is imperative that the bulls maintain strength above 5300 to stamp their authority and also manage a close above 5278 to avoid weekly loss which could trigger a round of correction. Immediate support for Nifty is pegged at 5295/5388 and resistance is at 5342. As per the overall structure, we expect Nifty to test the 20-month trend line target of 5440 before witnessing any meaningful corrective action.
Sectoral indices ended mixed with gains coming from FMCG (+1.03%), Banking (+1.01%) and Cap Goods (+0.87%); whereas profit taking was witnessed in Realty (-0.43%), Metals (-0.39%) and Oil & Gas (-0.14%). Among the broader markets, Mid-cap and Small-cap indices ended the day with gains of 0.90% and 1.64% respectively, outperforming their frontline peer.
Bullish Setups: TATA, GSPL, ICICIBC, PWGR, DLFU, ADE
Bearish Setups: TTMT/A
Regards,
Edelweiss Research
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