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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
BIG PICTURE
* Plan panel cuts Twelfth Five-Year Plan GDP growth estimate to 8.5-8.7% (var)
.
.
TOP EVENTS TODAY
* Nifty companies detailing Apr-Jun earnings:
+ Reliance Power
+ Reliance Infrastructure (Net profit seen 2.8 bln rupees, up 13% on year)
+ Tata Motors (Net profit seen 3.2 bln rupees, up 22% on year)
* Apr-Jun earnings to be detailed by: Agro Dutch, Ahmednagar Forgings, Amtek Auto, Amtek India, Anant Raj Industries, Ansal Properties, Aplab, Apollo
Tyres, Ashoka Buildcon, ATN International, Autolite, Bajaj Hindusthan, Bedmutha Industries, Birla Power Solutions, BLB, Blue Chip India, Brigade Enterprises, BSEL Infrastructure, Cambridge Technology, Castrol India, Celebrity Fashions, Centum Electronics, CIL Nova, Classic Diamonds, Clutch Auto, Consolidated Finvest, Creative Eye, Crest Animation, Cyber Media, Dalmia Bharat, Decolight Ceramics, Dhunseri Investments, DPSC, ECE Industries, Empee Distilleries, Empee Sugars, Entegra, Ess Dee Aluminium, Excel Infoways, Fedders Lloyd, First Leasing Co, Fresenius Kabi Oncology, Gabriel India, Gallantt Metal, Gammon Infrastructure, Ginni Filaments, Gujarat Ambuja Exports, Gujarat Gas Co, Hov Services, IL&FS Engineering, India Motor Parts, Indian Terrain Fashions, Indus Fila, Inox Leisure, Intrasoft Technologies, Jaiprakash Power Ventures, JD Orgochem, JHS Svendgaard, Jindal Photo, Jindal Worldwide, Jubilant Foodworks, Kakatiya Cement, Kamdhenu Ispat, KCP Sugar, Khaitan Electricals, Khandwala Securities, Krishna Engineering Works, Ladderup Finance, Lloyd Electric, LML, Lumax Automotive, Magnum Ventures, Man Industries, Marg, Moser-Baer, MSP Steel, Munjal Auto, MVL, Network18 Media, Nitin Fire Protection, Nu Tek India, OCL Iron, Orient Press, Pearl Engineering, Pioneer Embroideries, Pradip Overseas, Prakash Industries, Precision Wires, Provogue, Punjab Chemicals, Puravankara Projects, PVP Ventures, Radha Madhav, Raj Oil Mills, Rajapalayam Mills, Rolta India, Roman Tarmat, Ruby Mills, S Kumars Nationwide, Sakthi Sugars, Sandesh, Sarla Performance, Sentinel Tea, Shilpa Medicare, Shipping Corp, Shiv-Vani Oil & Gas, Shree Renuka Sugars, Shreyans Industries, Shriram EPC, Siyaram Silk Mills, Software Technology, Southern Petrochemicals, Spentex Industries, State Trading Corp, Suave Hotels, Sujana Tower, Teledata Technology, Texmo Pipes, Todays Writing Products, TV18 Broadcast, Valecha Engineering, Varun Industries, Varun Shipping Co, Vascon Engineers, Vesuvius India, VLS Finance, VST Tillers Tractors, Walchandnagar Industries, West Coast Paper Mills, Williamson Magor, XL Energy, Zenith Birla and Zuari Industries.
* Annual General Meet of: Ackruti City, Brigade Enterprises, Centum Electronics, Core Projects & Technologies, Dhunseri Investments, Emami Paper Mills, Fresenius Kabi Oncology, Glenmark Pharmaceuticals, Gujarat Ambuja Exports, Ginni Filaments, Interfit Techno, Kedia Construction, Ludlow Jute & Specialities, Maxwell Industries, Minda Industries, Munjal Showa, Nitin Alloys Global, Nitin Fire Protection, Peninsula Land, Pitti Laminations, Somany Ceramics, Uttam Sugar Mills, VST Tillers, Varun Industries, Varun Shipping Co, and Xpro India.
* Board Meetings of:
+ Ackruti City to consider preferential issue of shares, warrants.
+ Anant Raj to consider allotment of debentures worth 2.50 bln rupees.
+ Clutch Auto to consider allotment of shares.
+ Karma Energy to consider merger of Avirodh Financial Services with self.
+ Nitin Fire Protection to consider bonus share issue.
+ Prima Plastics to mull setting up wood composite panel door unit.
+ Suave Hotels to consider expansion plans.
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Aug 10: FII 1.53, DII 2.90
* Institutional net buy/(sale) in bln rupees, Aug 9: FIIs (19.61)
* FII NSE futures net buy/(sale) in bln rupee, Aug 10: index 15.29, shr 2.16
* Sensex 17130.51, up 272.60 points; Nifty 5161.00, up 88.15 points
* Crude: $82.89/bbl; Rupee: 45.2400/$1; Gold: $1,801.30/ounce; 10-yr yld: 8.1919%
.
.
OUTLOOK
* Domestic stock indices may open flat or weak tracking the fall in overseas markets due to concerns over Europe's debt. A 120-point recovery in Dow Jones
Industrial Average futures could help local indices recover.
.
.
GLOBAL STOCK MARKETS
* US: Indices on the Wall Street ended down 4-5% Wednesday due to fears France may become be the next to face a debt crisis and lose its AAA credit
rating because of rising borrowing costs.
* ASIA: Asian indices erased Wednesday's gains and fell 1-4% today due to concerns over France's debt.
.
.
SECTOR NEWS
===========
* AVIATION: Jet fuel supply restored to Air India. Airline to pay jet fuel dues to state-owned oil companies on Thursday
.
* BANKING: The Reserve Bank India has issued draft guidelines for calculating credit risk capital charge using the internal risk-based approach.
Some dealers said the RBI is looking into the books of a few foreign banks following the crash in near-term forward dollar/rupee rates.
.
* CORPORATE: The government is considering establishing an advance ruling mechanism to resolve issues related to tax deducted at source. (Mint)
.
* ECONOMY: Former RBI governor Y.V. Reddy said central banks across the global are unlikely to change their relative position on US dollar-denominated assets.
.
* INFRASTRUCTURE: The Public Private Partnership Appraisal Committee has approved 10 road projects worth 50 bln rupees. (BS)
.
* MEDIA: Indian promoters of Multi Screen Media, which owns Sony Television, are in advanced talks with private equity investors to sell their stake in
the company. (BS)
.
* POWER: The World Bank will give THDC India a $648 mln loan to build the Vishnugad Pipalkoti Hydro Electric Project in Uttarakhand.
.
* REGULATORY: A RBI panel has suggested portfolio investment scheme for non-resident Indians and persons of Indian origin needs to be reviewed or
discontinued.
.
* EXPORTS: India's iron ore exports in 2010-11 (Apr-Mar) fell 16.8% on year to 97.64 mln tn.
.
* TELECOM: The Department of Telecom is likely to ask Telecom Regulatory Authority of India to review its proposals on spectrum management and allied
licensing. (BS)
Bharat Sanchar Nigam has inked tower-sharing pacts with BHARTI AIRTEL, RELIANCE COMMUNICATIONS, Tata Teleservices, Etisalat DB, Aircel, and
Videocon. (ET)
.
.
STOCKS
======
* ABG SHIPYARD: Has posted Apr-Jun net profit of 400 mln rupees, and net sales of 5.23 bln rupees.
.
* ADANI ENTERPRISES: The company's joint venture Parsa Kente Collieries is likely to start mining operations at two Chhattisgarh blocks next year.
.
* ADHUNIK METALIKS: Has posted Apr-Jun net profit of 30.9 mln rupees, and net sales of 3.3 bln rupees.
.
* ANDHRA PRADESH PAPER: SEBI has asked International Paper to increase its open offer price for the company's shares to include the 25% non-compete fee being paid to the promoters. (ET)
.
* BARTRONICS INDIA: Has posted Apr-Jun consolidated net profit of 308.69 mln rupees, and net sales of 2.62 bln rupees.
.
* BHAGIRADHA CHEMICALS: Fire at company's Andhra Pradesh unit has left two dead and caused damage to property. The company is in the process of gauging the impact on operations.
.
* BHARAT FORGE: Plans to enter new markets in Latin America and Asia. (var)
.
* EDSERV SOFTSYSTEMS: Has allotted 1.6 mln global depositary receipts at $14.93 each.
.
* ELDER HEALTH CARE: To launch fast moving consumer goods products in Sri Lanka next month.
.
* EVEREADY INDUSTRIES: Deepak Khaitan has stepped down as vice chairman and managing director of the company. (var)
.
* EVERONN EDUCATION: Has posted Apr-Jun net profit of 110.3 mln rupees, and net sales of 668.5 mln rupees.
.
* FINANCIAL TECHNOLOGIES: Has posted Apr-Jun net profit of 392.08 mln rupees, and net sales of 657.43 mln rupees.
* FORTIS HEALTHCARE: Has entered into a pact to buy 65% stake in Vietnam's Hoan My Medical Corp for $64 mln.
.
* GARDEN SILK MILLS: Has posted Apr-Jun net loss of 47 mln rupees, and net sales of 7.77 bln rupees.
.
* GSK PHARMACEUTICALS: Has posted Apr-Jun net profit of 1.47 bln rupees, and net sales of 5.61 bln rupees.
.
* HOTEL LEELAVENTURE: Has posted Apr-Jun net loss of 265 mln rupees, and net sales of 1.25 bln rupees
Group plans to sell Kovalam hotel for around 5 bln rupees. (ET)
.
* IL&FS: Has posted Apr-Jun net loss of 141 mln rupees, and net sales of 2.42 bln rupees.
.
* ITI: The government is examining proposals to merge the company with state-owned Bharat Sanchar Nigam.
.
* JSW STEEL: West Bengal government has agreed to regularise the possession of 297 acre bought directly for the company's Salboni plant. (var)
.
* KAYTON TRADE: Six individuals have made an open offer to acquire 20% stake in the company. Open offer, priced at 10 rupees a share, to start Sep 30 and
end Oct 19.
.
* KINGFISHER AIRLINES: Has posted Apr-Jun net loss of 2.63 bln rupees, and net sales of 18.82 bln rupees.
.
* MAHANAGAR TELEPHONE NIGAM: Has posted Apr-Jun net loss of 8.50 bln rupees.
.
* NELCO: Has posted Apr-Jun net loss of 43.2 mln rupees, and net sales of 191 mln rupees.
.
* NHPC: Has got an in-principle approval for two projects with total capacity of 400 MW in Uttarakhand.
Plans to add 723 MW capacity by March 2012.
.
* OSWAL CHEMICALS: Has posted Apr-Jun net profit of 198 mln rupees, and net sales of 375.39 mln rupees.
.
* PIRAMAL HEALTHCARE: To buy 5.5% stake in Vodafone Essar from ETHL Communications Holdings for around 28.56 bln rupees cash.
.
* Plan panel cuts Twelfth Five-Year Plan GDP growth estimate to 8.5-8.7% (var)
.
.
TOP EVENTS TODAY
* Nifty companies detailing Apr-Jun earnings:
+ Reliance Power
+ Reliance Infrastructure (Net profit seen 2.8 bln rupees, up 13% on year)
+ Tata Motors (Net profit seen 3.2 bln rupees, up 22% on year)
* Apr-Jun earnings to be detailed by: Agro Dutch, Ahmednagar Forgings, Amtek Auto, Amtek India, Anant Raj Industries, Ansal Properties, Aplab, Apollo
Tyres, Ashoka Buildcon, ATN International, Autolite, Bajaj Hindusthan, Bedmutha Industries, Birla Power Solutions, BLB, Blue Chip India, Brigade Enterprises, BSEL Infrastructure, Cambridge Technology, Castrol India, Celebrity Fashions, Centum Electronics, CIL Nova, Classic Diamonds, Clutch Auto, Consolidated Finvest, Creative Eye, Crest Animation, Cyber Media, Dalmia Bharat, Decolight Ceramics, Dhunseri Investments, DPSC, ECE Industries, Empee Distilleries, Empee Sugars, Entegra, Ess Dee Aluminium, Excel Infoways, Fedders Lloyd, First Leasing Co, Fresenius Kabi Oncology, Gabriel India, Gallantt Metal, Gammon Infrastructure, Ginni Filaments, Gujarat Ambuja Exports, Gujarat Gas Co, Hov Services, IL&FS Engineering, India Motor Parts, Indian Terrain Fashions, Indus Fila, Inox Leisure, Intrasoft Technologies, Jaiprakash Power Ventures, JD Orgochem, JHS Svendgaard, Jindal Photo, Jindal Worldwide, Jubilant Foodworks, Kakatiya Cement, Kamdhenu Ispat, KCP Sugar, Khaitan Electricals, Khandwala Securities, Krishna Engineering Works, Ladderup Finance, Lloyd Electric, LML, Lumax Automotive, Magnum Ventures, Man Industries, Marg, Moser-Baer, MSP Steel, Munjal Auto, MVL, Network18 Media, Nitin Fire Protection, Nu Tek India, OCL Iron, Orient Press, Pearl Engineering, Pioneer Embroideries, Pradip Overseas, Prakash Industries, Precision Wires, Provogue, Punjab Chemicals, Puravankara Projects, PVP Ventures, Radha Madhav, Raj Oil Mills, Rajapalayam Mills, Rolta India, Roman Tarmat, Ruby Mills, S Kumars Nationwide, Sakthi Sugars, Sandesh, Sarla Performance, Sentinel Tea, Shilpa Medicare, Shipping Corp, Shiv-Vani Oil & Gas, Shree Renuka Sugars, Shreyans Industries, Shriram EPC, Siyaram Silk Mills, Software Technology, Southern Petrochemicals, Spentex Industries, State Trading Corp, Suave Hotels, Sujana Tower, Teledata Technology, Texmo Pipes, Todays Writing Products, TV18 Broadcast, Valecha Engineering, Varun Industries, Varun Shipping Co, Vascon Engineers, Vesuvius India, VLS Finance, VST Tillers Tractors, Walchandnagar Industries, West Coast Paper Mills, Williamson Magor, XL Energy, Zenith Birla and Zuari Industries.
* Annual General Meet of: Ackruti City, Brigade Enterprises, Centum Electronics, Core Projects & Technologies, Dhunseri Investments, Emami Paper Mills, Fresenius Kabi Oncology, Glenmark Pharmaceuticals, Gujarat Ambuja Exports, Ginni Filaments, Interfit Techno, Kedia Construction, Ludlow Jute & Specialities, Maxwell Industries, Minda Industries, Munjal Showa, Nitin Alloys Global, Nitin Fire Protection, Peninsula Land, Pitti Laminations, Somany Ceramics, Uttam Sugar Mills, VST Tillers, Varun Industries, Varun Shipping Co, and Xpro India.
* Board Meetings of:
+ Ackruti City to consider preferential issue of shares, warrants.
+ Anant Raj to consider allotment of debentures worth 2.50 bln rupees.
+ Clutch Auto to consider allotment of shares.
+ Karma Energy to consider merger of Avirodh Financial Services with self.
+ Nitin Fire Protection to consider bonus share issue.
+ Prima Plastics to mull setting up wood composite panel door unit.
+ Suave Hotels to consider expansion plans.
.
.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Aug 10: FII 1.53, DII 2.90
* Institutional net buy/(sale) in bln rupees, Aug 9: FIIs (19.61)
* FII NSE futures net buy/(sale) in bln rupee, Aug 10: index 15.29, shr 2.16
* Sensex 17130.51, up 272.60 points; Nifty 5161.00, up 88.15 points
* Crude: $82.89/bbl; Rupee: 45.2400/$1; Gold: $1,801.30/ounce; 10-yr yld: 8.1919%
.
.
OUTLOOK
* Domestic stock indices may open flat or weak tracking the fall in overseas markets due to concerns over Europe's debt. A 120-point recovery in Dow Jones
Industrial Average futures could help local indices recover.
.
.
GLOBAL STOCK MARKETS
* US: Indices on the Wall Street ended down 4-5% Wednesday due to fears France may become be the next to face a debt crisis and lose its AAA credit
rating because of rising borrowing costs.
* ASIA: Asian indices erased Wednesday's gains and fell 1-4% today due to concerns over France's debt.
.
.
SECTOR NEWS
===========
* AVIATION: Jet fuel supply restored to Air India. Airline to pay jet fuel dues to state-owned oil companies on Thursday
.
* BANKING: The Reserve Bank India has issued draft guidelines for calculating credit risk capital charge using the internal risk-based approach.
Some dealers said the RBI is looking into the books of a few foreign banks following the crash in near-term forward dollar/rupee rates.
.
* CORPORATE: The government is considering establishing an advance ruling mechanism to resolve issues related to tax deducted at source. (Mint)
.
* ECONOMY: Former RBI governor Y.V. Reddy said central banks across the global are unlikely to change their relative position on US dollar-denominated assets.
.
* INFRASTRUCTURE: The Public Private Partnership Appraisal Committee has approved 10 road projects worth 50 bln rupees. (BS)
.
* MEDIA: Indian promoters of Multi Screen Media, which owns Sony Television, are in advanced talks with private equity investors to sell their stake in
the company. (BS)
.
* POWER: The World Bank will give THDC India a $648 mln loan to build the Vishnugad Pipalkoti Hydro Electric Project in Uttarakhand.
.
* REGULATORY: A RBI panel has suggested portfolio investment scheme for non-resident Indians and persons of Indian origin needs to be reviewed or
discontinued.
.
* EXPORTS: India's iron ore exports in 2010-11 (Apr-Mar) fell 16.8% on year to 97.64 mln tn.
.
* TELECOM: The Department of Telecom is likely to ask Telecom Regulatory Authority of India to review its proposals on spectrum management and allied
licensing. (BS)
Bharat Sanchar Nigam has inked tower-sharing pacts with BHARTI AIRTEL, RELIANCE COMMUNICATIONS, Tata Teleservices, Etisalat DB, Aircel, and
Videocon. (ET)
.
.
STOCKS
======
* ABG SHIPYARD: Has posted Apr-Jun net profit of 400 mln rupees, and net sales of 5.23 bln rupees.
.
* ADANI ENTERPRISES: The company's joint venture Parsa Kente Collieries is likely to start mining operations at two Chhattisgarh blocks next year.
.
* ADHUNIK METALIKS: Has posted Apr-Jun net profit of 30.9 mln rupees, and net sales of 3.3 bln rupees.
.
* ANDHRA PRADESH PAPER: SEBI has asked International Paper to increase its open offer price for the company's shares to include the 25% non-compete fee being paid to the promoters. (ET)
.
* BARTRONICS INDIA: Has posted Apr-Jun consolidated net profit of 308.69 mln rupees, and net sales of 2.62 bln rupees.
.
* BHAGIRADHA CHEMICALS: Fire at company's Andhra Pradesh unit has left two dead and caused damage to property. The company is in the process of gauging the impact on operations.
.
* BHARAT FORGE: Plans to enter new markets in Latin America and Asia. (var)
.
* EDSERV SOFTSYSTEMS: Has allotted 1.6 mln global depositary receipts at $14.93 each.
.
* ELDER HEALTH CARE: To launch fast moving consumer goods products in Sri Lanka next month.
.
* EVEREADY INDUSTRIES: Deepak Khaitan has stepped down as vice chairman and managing director of the company. (var)
.
* EVERONN EDUCATION: Has posted Apr-Jun net profit of 110.3 mln rupees, and net sales of 668.5 mln rupees.
.
* FINANCIAL TECHNOLOGIES: Has posted Apr-Jun net profit of 392.08 mln rupees, and net sales of 657.43 mln rupees.
* FORTIS HEALTHCARE: Has entered into a pact to buy 65% stake in Vietnam's Hoan My Medical Corp for $64 mln.
.
* GARDEN SILK MILLS: Has posted Apr-Jun net loss of 47 mln rupees, and net sales of 7.77 bln rupees.
.
* GSK PHARMACEUTICALS: Has posted Apr-Jun net profit of 1.47 bln rupees, and net sales of 5.61 bln rupees.
.
* HOTEL LEELAVENTURE: Has posted Apr-Jun net loss of 265 mln rupees, and net sales of 1.25 bln rupees
Group plans to sell Kovalam hotel for around 5 bln rupees. (ET)
.
* IL&FS: Has posted Apr-Jun net loss of 141 mln rupees, and net sales of 2.42 bln rupees.
.
* ITI: The government is examining proposals to merge the company with state-owned Bharat Sanchar Nigam.
.
* JSW STEEL: West Bengal government has agreed to regularise the possession of 297 acre bought directly for the company's Salboni plant. (var)
.
* KAYTON TRADE: Six individuals have made an open offer to acquire 20% stake in the company. Open offer, priced at 10 rupees a share, to start Sep 30 and
end Oct 19.
.
* KINGFISHER AIRLINES: Has posted Apr-Jun net loss of 2.63 bln rupees, and net sales of 18.82 bln rupees.
.
* MAHANAGAR TELEPHONE NIGAM: Has posted Apr-Jun net loss of 8.50 bln rupees.
.
* NELCO: Has posted Apr-Jun net loss of 43.2 mln rupees, and net sales of 191 mln rupees.
.
* NHPC: Has got an in-principle approval for two projects with total capacity of 400 MW in Uttarakhand.
Plans to add 723 MW capacity by March 2012.
.
* OSWAL CHEMICALS: Has posted Apr-Jun net profit of 198 mln rupees, and net sales of 375.39 mln rupees.
.
* PIRAMAL HEALTHCARE: To buy 5.5% stake in Vodafone Essar from ETHL Communications Holdings for around 28.56 bln rupees cash.
.
* RELIANCE COMMUNICATIONS: Has denied allegations Swan Telecom was a front for the company. (var)
.
* SATYAM COMPUTER SERVICES: Shareholders have opposed plan to merge the company with TECH MAHINDRA. (var)
.
* TATA COMMUNICATIONS: Arm Neotel on track to turn earnings before interest, tax, depreciation, and amortisation positive in 2011-12 (Apr-Mar).
Telecom Commission has given its nod to sell the company's surplus land.
.
* TATA GLOBAL: Has said hardening of commodity costs are hurting margins.
.
* TATA POWER: Has posted Apr-Jun consolidated net profit of 4.18 bln rupees, and total income of 58.2 bln rupees.
.
* UNITY INFRAPROJECTS: Has bagged orders worth 2.53 bln rupees.
.
* ZODIAC CLOTHING: Has posted consolidated Apr-Jun net profit of 55 mln rupees, and net sales of 833 mln rupees.
Has announced 1-for-2 bonus share issue.
.
* SATYAM COMPUTER SERVICES: Shareholders have opposed plan to merge the company with TECH MAHINDRA. (var)
.
* TATA COMMUNICATIONS: Arm Neotel on track to turn earnings before interest, tax, depreciation, and amortisation positive in 2011-12 (Apr-Mar).
Telecom Commission has given its nod to sell the company's surplus land.
.
* TATA GLOBAL: Has said hardening of commodity costs are hurting margins.
.
* TATA POWER: Has posted Apr-Jun consolidated net profit of 4.18 bln rupees, and total income of 58.2 bln rupees.
.
* UNITY INFRAPROJECTS: Has bagged orders worth 2.53 bln rupees.
.
* ZODIAC CLOTHING: Has posted consolidated Apr-Jun net profit of 55 mln rupees, and net sales of 833 mln rupees.
Has announced 1-for-2 bonus share issue.
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