Market Watch 07.01
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Market Watch
MARKET WATCH
Outlook: Market to give a negative and trade volatile, support likely at lower levels around 6180 07.01.2008 (Monday) Market Outlook: Key share indices are seen opening down and trade seen volatile, tracking the fall in US and Asian markets. Wall Street witnessed a 2-4% drop after weaker-than-expected December jobs report fuelled concern the world's largest economy is headed for a recession. --Reliance Power eyes acquiring Dabhol power plant --Planning Commission moots spectrum management group --BSNL plans separate telecom tower co, to lease out 40,000 towers --Orient Paper plans foray into cement business --HDFC Bank to enter investment banking INDICATORS (previous session) * Institutional net buy/(sale) in mln rupees, Jan 3: FIIs 7,251, MFs 4,900 * Sensex 20686.89, up 341.69 points; Nifty 6274.30, up 95.75 points * Other markets: Crude: $97.91/bbl; rupee: 39.33; gold: $856.74/ounce; 10-yr yld: 7.70% Nifty is likely to find support at 6180, 6130 levels, resistance seen at 6295, 6390. US Mkts: The markets tumbled after the government reported lower than expected job growth in December. Non-farm payrolls grew by 18,000 and the unemployment rate surged to 5 percent, its highest point in more than two years. Treasuries rose, sending short-dated yields to three-year lows, as grim jobs data prompted investors to increase bets on a rate cut by Fed. --DJIA: 12,800.18 Fri, down 256.54 points, or 1.96% vs Thurs. --NASDAQ: 2,505 Fri, down 98.03 points, or 3.77% vs Thurs. ASIA: Asian markets were tumble today. Hong Kong's Hang Seng plunged 2.62%o r 720.60 points at 26,799.09. Taiwan's Taiwan Weighted tumbled 3.29% or 270.19 points at 7,950.91. Japan's Nikkei slipped 1% or 147.29 points at 14,544.12. Singapore's Straits Times dropped 2.33% or 80.14 points at 3,357.65. South Korea's Seoul Composite was down 1.90% or 35.46 points at 1,828.44. Opportunity Calls: Buy L&T (SL 4180), Jyoti Structure (SL 280), Siemens (SL 1924), Sterlite Ind (SL 1924) WEEKLY OUTLOOK * Auto: To track broad market, Tata Motors in limelight * Banks: Volatile on wide valuations * Cement: Sideways with negative bias * Oil: Marketing cos shares up further * Pharma: Mid-cap shares in limelight * Steel: Slack on growing input costs * Tech: Subdued ahead of Oct-Dec results
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Securities in ban period for trade date January 07, 2008: The derivative contracts in the below mentioned securities have crossed 95% of the market-wide position limit and are currently in the ban period. It is hereby informed that all clients/ members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions. Sr. No. 1 2 3 4 5 6 7 8 9 10 11
Symbol APTECHT ARVINDMILL BONGAIREFN ESSAROIL HINDOILEXP HOTELEELA IVRPRIME JPHYDRO NAGARFERT RAJESHEXPO TTML
F&O cues: • • • • • • • •
Futures Open Interest up by Rs 2,646 crore, Options Open Interest up by Rs 1,772 crore Nifty Futures add 9 lakh shares in OI; at 10-point discount Nifty Open Interest Put-Call ratio at 1.40 Vs 1.36 Nifty Puts add 14.5 lakh shares in Open Interest Nifty Calls add 7.4 lakh shares in Open Interest Nifty 6200 Put adds 8.5 lakh shares in Open Interest Nifty 6500 Call adds 2.3 lakh shares in Open Interest Nifty 6400 Call adds 1.7 lakh shares in Open Interest
Stocks in news: • • • • • • • • •
Results today: ABG Shipyard, Bilpower and Kohinoor Broadcasting Board meetings: Crazy Infotech on GDR / FCCB issue & stock split Reliance Power sets sight on Dabhol, to scale up its generation capacity Ethanol may get declared goods tag, will lead to lower uniform state levy of 4%, center may pare excise duty on fuel-additive - ET Canara Bank looking for an acquisition in FY08 FIs pick up 10% in Peninsula Land for Rs 525 cr - ET Subprime crisis to hit SBI, ICICI BK, BoB and BoI’s profits, Banks are likely to book loses on credit derivatives - BS Daimler Chrysler to buy 26% in Sutlej Motors, to jointly develop busses - BS Oil PSUs IOC, HPCL, BPCL have informed department of Public Enterprise that they have no immediate plans to issue bonus shares - FE
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch • RIL, ONGC in talks for sharing of rigs - BL • 4 private sector winners for the Ganga-Expressway in UP to be announced on Jan 14 • Jet finalises sale of 5% of promoters’ equity - BL • SAIL scouting for new iron ore mines - BL • Hind Zinc hikes zinc price by 3.6% • IOC’s Paradip, Haldia pipeline to go onstream in 6 weeks - BS • NSE F&O curb update
• • • • •
• •
• •
•
New in curb: Hotel Leela, Nagar Fert, TTML Already in curb: Aptech, Arvind Mills, Bongaigaon, Essar Oil, HOEL, IVR Prime, JP Hydro, Rajesh Exports Out of curb: Parsvnath RBI allows FIIs to buy shares of Zee News as their holding goes below threshold limit FIIs need RBI nod to buy further shares of Info Edge as their holding reaches 22% limit Adani Enterprises board approves QIP issue up to Rs 3000 cr Uttam Galva Steels board approves GDR / ADR / FCCB issue up to $150 m Dewan Housing board approves: QIB issue up to Rs 200 cr Issue of 19 lakh convertible warrants to promoters Increasing FII investment limit up to 40% Cranes Software board approves acquisition of US-based Engineering Technology Associates for Rs 72 cr Kohinoor Broadcasting board meet to consider: Takeover / merger of Tagore Theatres with itself Opening subsidiary in London for launch of TV channel Moody's Puts Tata Motors On Review For Possible Downgrade M&M Says No Objection To Renault-Nissan's Multiple Alliances Renault-Nissan Alliances Should Not Conflict With Existing JV Exclusive: Tata Steel says: To Start Work At Kalinganagar, Orissa In Next 3 Months Looking For Partners For Gopalpur SEZ; To Invest Rs 250 Cr Looking To Start 1.5 Lk t Colour Coating Galvanising Plant In Gopalpur SEZ To Commission 7 Mtpa Expansion In June '08 Combined Turnover Of Tata Steel & Corus To Be $25 Bn In FY08 Looking At Indonesia, Brazil For More Iron Ore Mines Expect Rev From Flat Stl Prod To Go Up Due To Tata Rs 1 Lk Car To Supply Bearings, Tubes For Chassis & Other Parts Of Rs 1Lk Car All existing non-Indian mining JVs to be used for Corus; looking at Liberia, Brazil for additional mining resources: Tata Steel
Fund Action: Marg Const Merill Lynch Capital Markets Espana 5.17 lakh shares at Rs 574.6/sh (2.8% stake) The Indiaman Fund Mauritius sells 5 lakh shares at Rs 575/sh (2.7% stake) Merrill Lynch buys 1.40 lakh shares at Rs 606.79/sh on 31st Dec Macquarie Bank buys 1.35 lakh shares at Rs 517/sh (0.7% stake) on 23rd Dec Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Gremac Infra Mirae Asset Investment Management buys 3.76 lakh shares at Rs 436.4/sh (2.5% stake) Monnet Ispat Deutsche Securities Mauritius buys 3.37 lakh shares at Rs 650.7/sh Swiss Finance Corp Mau sells 2.78 lakh shares at Rs 653/sh Macquarie Bank sells 2.3 lakh shares at Rs 523.7/sh on Dec 18th Lupin Blackstone Asia Advisors Llc sells 5 lakh shares at Rs 615/sh (0.6% STAKE) Orchid Chem Bear Sterns buys 5.75 lakh shares at Rs 304.8/sh Macquarie Bank buys 45 lakh shares at Rs 250/sh (6.8% stake) on 27th Dec Gazal Industrial Holdings sells 45 lakh shares at Rs 250/sh (6.8% stake) (Reduces stake from 17% to 10.2%) on 27th Dec Usher Agro Nirmal N Kotecha buys 5 lakh shares at Rs 150/sh (2.8% stake) Graphite India Bear Sterns buys 8 lakh shares at Rs 91.3/sh (0.5% stake) UBS Securities Asia sells 11 lakh shares at Rs 90.7/sh (0.7% stake) RK Forgings Mahanivesh India buys 1.15 lakh shares at Rs 262/sh The Indiaman Fund Mauritius sells 1.15 lakh shares at Rs 262/sh Micro Technologies Goldman Sachs Investments Mauritius sells 1.08 lakhshares at Rs 345.9/sh ISMT Indian Seamless Enterprises buys 16 lakh shares at Rs 129/sh Klapa Investments sells 16 lakh shares at Rs 129/sh Gallantt Metal Lexi Export buys 15.8 lakh shares at Rs 45/sh Gauri Shankar Agrawal And Company Huf sells 9 lakh shares at Rs 45/sh Jailakshmi Solvents sells 6.8 lakh shares at Rs 45/sh Archies Aatman Construction & Dev buys 40 thousand shares at Rs 172.6/sh Gokaldas Exports Jai Corp buys 2 lakh shares at Rs 268/sh (0.6% stake) ABN Amro Bank sells 2 lakh shares at Rs 268/sh (0.6% stake) Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Shiv-Vani Oil & Gas Explo Lloyd George Investment Mngmt (Bermuda) buys 3.71 lakh shares at Rs 630/sh Subhash Proj Templeton MF-Prima Fund buys 4.84 lakh shares at Rs 550.3/sh (1.6% stake) Reliance Capital Growth Fund sells 4.12 lakh shares at Rs 550.5/sh (1.3% stake) Zicom Electronic Security Citigroup Global Markets Mauritius buys 3.18 lakh shares at Rs 247/sh GKK Capital Markets buys 69 thousand shares at Rs 242.45/sh RNA Builders (N.G) buys 67 thousand shares at Rs 245/sh GKK Capital Markets Private sells 3 lakh shares at Rs 247/sh Ipca Laboratories TATA AIG Life Insurance Life Equity Fund sells 1.29 lakh shares at Rs 670.2/sh STI India Bear Sterns sells 3.44 lakh shares at Rs 34.1/sh Voltamp Transformers Vinamra Universal Traders buys 60 thousand shares at Rs 1800/sh Lehman Brothers Asia sells 60 thousand shares at Rs 1800/sh Ankit Metal Mavi Investment Fund buys 5 lakh shares at Rs 95/sh Sujana Tower Blackstone Asia Advisors The India Fund sells 2.91 lakh shares at Rs 193.2/sh Pochiraju Ind Mavi Investment Fund sells 1 lakh shares at Rs 53.3/sh Tyche Periph RNA Builders buys 2.5 lakh shares at Rs 102/sh
DISCLAIMER: Equity market investments entail high risk. Investors are therefore advised to take into account their risk-appetite before investing. The company and its employees will not be liable for any loss arising from this report. The author(s) do not have any exposure in the scrips recommended in the report.
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
MARKET WATCH
Outlook: Market to give a negative and trade volatile, support likely at lower levels around 6180 07.01.2008 (Monday) Market Outlook: Key share indices are seen opening down and trade seen volatile, tracking the fall in US and Asian markets. Wall Street witnessed a 2-4% drop after weaker-than-expected December jobs report fuelled concern the world's largest economy is headed for a recession. --Reliance Power eyes acquiring Dabhol power plant --Planning Commission moots spectrum management group --BSNL plans separate telecom tower co, to lease out 40,000 towers --Orient Paper plans foray into cement business --HDFC Bank to enter investment banking INDICATORS (previous session) * Institutional net buy/(sale) in mln rupees, Jan 3: FIIs 7,251, MFs 4,900 * Sensex 20686.89, up 341.69 points; Nifty 6274.30, up 95.75 points * Other markets: Crude: $97.91/bbl; rupee: 39.33; gold: $856.74/ounce; 10-yr yld: 7.70% Nifty is likely to find support at 6180, 6130 levels, resistance seen at 6295, 6390. US Mkts: The markets tumbled after the government reported lower than expected job growth in December. Non-farm payrolls grew by 18,000 and the unemployment rate surged to 5 percent, its highest point in more than two years. Treasuries rose, sending short-dated yields to three-year lows, as grim jobs data prompted investors to increase bets on a rate cut by Fed. --DJIA: 12,800.18 Fri, down 256.54 points, or 1.96% vs Thurs. --NASDAQ: 2,505 Fri, down 98.03 points, or 3.77% vs Thurs. ASIA: Asian markets were tumble today. Hong Kong's Hang Seng plunged 2.62%o r 720.60 points at 26,799.09. Taiwan's Taiwan Weighted tumbled 3.29% or 270.19 points at 7,950.91. Japan's Nikkei slipped 1% or 147.29 points at 14,544.12. Singapore's Straits Times dropped 2.33% or 80.14 points at 3,357.65. South Korea's Seoul Composite was down 1.90% or 35.46 points at 1,828.44. Opportunity Calls: Buy L&T (SL 4180), Jyoti Structure (SL 280), Siemens (SL 1924), Sterlite Ind (SL 1924) WEEKLY OUTLOOK * Auto: To track broad market, Tata Motors in limelight * Banks: Volatile on wide valuations * Cement: Sideways with negative bias * Oil: Marketing cos shares up further * Pharma: Mid-cap shares in limelight * Steel: Slack on growing input costs * Tech: Subdued ahead of Oct-Dec results
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Securities in ban period for trade date January 07, 2008: The derivative contracts in the below mentioned securities have crossed 95% of the market-wide position limit and are currently in the ban period. It is hereby informed that all clients/ members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions. Sr. No. 1 2 3 4 5 6 7 8 9 10 11
Symbol APTECHT ARVINDMILL BONGAIREFN ESSAROIL HINDOILEXP HOTELEELA IVRPRIME JPHYDRO NAGARFERT RAJESHEXPO TTML
F&O cues: • • • • • • • •
Futures Open Interest up by Rs 2,646 crore, Options Open Interest up by Rs 1,772 crore Nifty Futures add 9 lakh shares in OI; at 10-point discount Nifty Open Interest Put-Call ratio at 1.40 Vs 1.36 Nifty Puts add 14.5 lakh shares in Open Interest Nifty Calls add 7.4 lakh shares in Open Interest Nifty 6200 Put adds 8.5 lakh shares in Open Interest Nifty 6500 Call adds 2.3 lakh shares in Open Interest Nifty 6400 Call adds 1.7 lakh shares in Open Interest
Stocks in news: • • • • • • • • •
Results today: ABG Shipyard, Bilpower and Kohinoor Broadcasting Board meetings: Crazy Infotech on GDR / FCCB issue & stock split Reliance Power sets sight on Dabhol, to scale up its generation capacity Ethanol may get declared goods tag, will lead to lower uniform state levy of 4%, center may pare excise duty on fuel-additive - ET Canara Bank looking for an acquisition in FY08 FIs pick up 10% in Peninsula Land for Rs 525 cr - ET Subprime crisis to hit SBI, ICICI BK, BoB and BoI’s profits, Banks are likely to book loses on credit derivatives - BS Daimler Chrysler to buy 26% in Sutlej Motors, to jointly develop busses - BS Oil PSUs IOC, HPCL, BPCL have informed department of Public Enterprise that they have no immediate plans to issue bonus shares - FE
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch • RIL, ONGC in talks for sharing of rigs - BL • 4 private sector winners for the Ganga-Expressway in UP to be announced on Jan 14 • Jet finalises sale of 5% of promoters’ equity - BL • SAIL scouting for new iron ore mines - BL • Hind Zinc hikes zinc price by 3.6% • IOC’s Paradip, Haldia pipeline to go onstream in 6 weeks - BS • NSE F&O curb update
• • • • •
• •
• •
•
New in curb: Hotel Leela, Nagar Fert, TTML Already in curb: Aptech, Arvind Mills, Bongaigaon, Essar Oil, HOEL, IVR Prime, JP Hydro, Rajesh Exports Out of curb: Parsvnath RBI allows FIIs to buy shares of Zee News as their holding goes below threshold limit FIIs need RBI nod to buy further shares of Info Edge as their holding reaches 22% limit Adani Enterprises board approves QIP issue up to Rs 3000 cr Uttam Galva Steels board approves GDR / ADR / FCCB issue up to $150 m Dewan Housing board approves: QIB issue up to Rs 200 cr Issue of 19 lakh convertible warrants to promoters Increasing FII investment limit up to 40% Cranes Software board approves acquisition of US-based Engineering Technology Associates for Rs 72 cr Kohinoor Broadcasting board meet to consider: Takeover / merger of Tagore Theatres with itself Opening subsidiary in London for launch of TV channel Moody's Puts Tata Motors On Review For Possible Downgrade M&M Says No Objection To Renault-Nissan's Multiple Alliances Renault-Nissan Alliances Should Not Conflict With Existing JV Exclusive: Tata Steel says: To Start Work At Kalinganagar, Orissa In Next 3 Months Looking For Partners For Gopalpur SEZ; To Invest Rs 250 Cr Looking To Start 1.5 Lk t Colour Coating Galvanising Plant In Gopalpur SEZ To Commission 7 Mtpa Expansion In June '08 Combined Turnover Of Tata Steel & Corus To Be $25 Bn In FY08 Looking At Indonesia, Brazil For More Iron Ore Mines Expect Rev From Flat Stl Prod To Go Up Due To Tata Rs 1 Lk Car To Supply Bearings, Tubes For Chassis & Other Parts Of Rs 1Lk Car All existing non-Indian mining JVs to be used for Corus; looking at Liberia, Brazil for additional mining resources: Tata Steel
Fund Action: Marg Const Merill Lynch Capital Markets Espana 5.17 lakh shares at Rs 574.6/sh (2.8% stake) The Indiaman Fund Mauritius sells 5 lakh shares at Rs 575/sh (2.7% stake) Merrill Lynch buys 1.40 lakh shares at Rs 606.79/sh on 31st Dec Macquarie Bank buys 1.35 lakh shares at Rs 517/sh (0.7% stake) on 23rd Dec Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Gremac Infra Mirae Asset Investment Management buys 3.76 lakh shares at Rs 436.4/sh (2.5% stake) Monnet Ispat Deutsche Securities Mauritius buys 3.37 lakh shares at Rs 650.7/sh Swiss Finance Corp Mau sells 2.78 lakh shares at Rs 653/sh Macquarie Bank sells 2.3 lakh shares at Rs 523.7/sh on Dec 18th Lupin Blackstone Asia Advisors Llc sells 5 lakh shares at Rs 615/sh (0.6% STAKE) Orchid Chem Bear Sterns buys 5.75 lakh shares at Rs 304.8/sh Macquarie Bank buys 45 lakh shares at Rs 250/sh (6.8% stake) on 27th Dec Gazal Industrial Holdings sells 45 lakh shares at Rs 250/sh (6.8% stake) (Reduces stake from 17% to 10.2%) on 27th Dec Usher Agro Nirmal N Kotecha buys 5 lakh shares at Rs 150/sh (2.8% stake) Graphite India Bear Sterns buys 8 lakh shares at Rs 91.3/sh (0.5% stake) UBS Securities Asia sells 11 lakh shares at Rs 90.7/sh (0.7% stake) RK Forgings Mahanivesh India buys 1.15 lakh shares at Rs 262/sh The Indiaman Fund Mauritius sells 1.15 lakh shares at Rs 262/sh Micro Technologies Goldman Sachs Investments Mauritius sells 1.08 lakhshares at Rs 345.9/sh ISMT Indian Seamless Enterprises buys 16 lakh shares at Rs 129/sh Klapa Investments sells 16 lakh shares at Rs 129/sh Gallantt Metal Lexi Export buys 15.8 lakh shares at Rs 45/sh Gauri Shankar Agrawal And Company Huf sells 9 lakh shares at Rs 45/sh Jailakshmi Solvents sells 6.8 lakh shares at Rs 45/sh Archies Aatman Construction & Dev buys 40 thousand shares at Rs 172.6/sh Gokaldas Exports Jai Corp buys 2 lakh shares at Rs 268/sh (0.6% stake) ABN Amro Bank sells 2 lakh shares at Rs 268/sh (0.6% stake) Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
Market Watch
Shiv-Vani Oil & Gas Explo Lloyd George Investment Mngmt (Bermuda) buys 3.71 lakh shares at Rs 630/sh Subhash Proj Templeton MF-Prima Fund buys 4.84 lakh shares at Rs 550.3/sh (1.6% stake) Reliance Capital Growth Fund sells 4.12 lakh shares at Rs 550.5/sh (1.3% stake) Zicom Electronic Security Citigroup Global Markets Mauritius buys 3.18 lakh shares at Rs 247/sh GKK Capital Markets buys 69 thousand shares at Rs 242.45/sh RNA Builders (N.G) buys 67 thousand shares at Rs 245/sh GKK Capital Markets Private sells 3 lakh shares at Rs 247/sh Ipca Laboratories TATA AIG Life Insurance Life Equity Fund sells 1.29 lakh shares at Rs 670.2/sh STI India Bear Sterns sells 3.44 lakh shares at Rs 34.1/sh Voltamp Transformers Vinamra Universal Traders buys 60 thousand shares at Rs 1800/sh Lehman Brothers Asia sells 60 thousand shares at Rs 1800/sh Ankit Metal Mavi Investment Fund buys 5 lakh shares at Rs 95/sh Sujana Tower Blackstone Asia Advisors The India Fund sells 2.91 lakh shares at Rs 193.2/sh Pochiraju Ind Mavi Investment Fund sells 1 lakh shares at Rs 53.3/sh Tyche Periph RNA Builders buys 2.5 lakh shares at Rs 102/sh
DISCLAIMER: Equity market investments entail high risk. Investors are therefore advised to take into account their risk-appetite before investing. The company and its employees will not be liable for any loss arising from this report. The author(s) do not have any exposure in the scrips recommended in the report.
Peerless Securities Ltd. Peerless Mansion1, Chowringhee Square, 2nd Floor, Kolkata- 69
Indra Narayan Biswas
For Private Circulation Only
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