MARKET AS ON 6-12-2013

Views on markets today

- Markets ended lower on Wednesday as investors turned cautious and booked profits ahead of the assembly election results due on Sunday.

The 30-share Sensex ended down 146 points at 20,70- and the 50-share Nifty ended down 40 points at 6,160.

- Five telecom stocks rose by 0.09% to 2.91%, in the early trading, on BSE after a panel of ministers on Tuesday, 3 December 2013, approved crucial changes to the rules on mergers and acquisitions in the fragmented telecom industry.

Bharti Airtel (up 1.32%), Idea Cellular (up 0.09%), MTNL (up 1.36%), Tata Teleservices (Maharashtra) (up 2.91%) and Reliance Communications (up 1.22%) gained.

- Eight stocks closed down by 4.92% to 16.76% on BSE after the NSE said it would suspend trading in shares of these companies from 10 December 2013 for non-compliance of certain provisions of the listing agreement.

Amar Remedies (down 4.92%), Aqua Logistics (down 16.76%), Asian Electronics (down 4.88%), Edserv Softsystems (down 5.13%), First Leasing Company of India (down 4.72%), Geodesic (down 4.87%), KDL Biotech (down 4.96%), KLG Systel (down 4.96%), Birla Power Solutions (down 5.26%) edged lower on BSE.

- Among the 13 Sectoral Indices 5 indices closed in positive while - indices ended in negative. Top Gainers: BSE Power up by 0.31% and BSE Metal by 0.26%. Top Loser: BSE Realty down by 2.67% and BSE FMCG by 1.36%.

Market breadth was negative at ~0.82 as investors sold large cap stocks. On provisional basis, FII's bought Rs 0.42bn worth of Indian equities and DII's sold Rs 0.18bn worth of equities.


Economic and Corporate Developments

- India's services sector, which constitutes the biggest chunk of its economy, shrank for the fifth month in a row in November, according to the widely-tracked HSBC purchasing managers' index released on Wednesday.

This may dash hopes of any significant recovery in the second half, particularly in the services sector, which grew at 11-year low in the second quarter of 2013-14 in the official GDP data.

Services PMI inched up to 47.2 points in November from 47.1 in October, remaining in the negative zone. PMI above 50 means expansion and below that number it is a decline.


Buzzing Stocks

- Pfizer closed 1.23% down at Rs 1,710.60 on BSE on profit booking after gaining 20.99% in prior seven trading days.

- Essar Oil closed 1.84% up at Rs 55.30 on BSE after the company said it has received a notice from promoter company, Essar Energy Holdings seeking conversion of FCCBs aggregating $262 million into equity shares.

- Force Motors closed 1.99% up at Rs 398.80 on BSE, with the stock extending its recent rally.

- Jyothy Laboratories closed 5.86% up at Rs 199.70 on BSE after the company said it has allotted 1.5 crore equity shares, aggregating Rs 262.72 crore, to Sahyadri Agencies on preferential allotment basis.

- Eicher Motors closed 4.34% down at Rs 4,918.80 on BSE, with the stock sliding on profit booking after recent rally triggered by a foreign brokerage upgrading the stock to buy from underperform.

- Infotech Enterprises closed 5.30% up at Rs 289.25 on BSE after 0.36% equity changed hands in a bulk deal on 4th December 2013.

- Thomas Cook (India) rose 4.21%, in the intraday, to Rs 84.20 on BSE after the company said it has expanded its footprint in South India with the launch of its new branch outlet in Pondicherry on 4th December, 2013.

- VST Tillers Tractors closed 5.04% to Rs 626.05 on BSE after HDFC Mutual Fund bought 1.71% stake in the company on Tuesday, 3 December 2013.

- Orient Bell jumped 3.52%, in the early trade to Rs 51.50 on BSE after the company on Tuesday, 3 December 2013, announced a licensing deal with Disney Consumer Products India to launch Disney and Marvel branded tiles collection in the country.

- Mahindra Holidays & Resorts India rose 3.19%, in the morning trade, to Rs 259 on BSE after the company announced the divestment of investment in the company's two Austrian subsidiaries.

- Cairn India rose 0.42% to Rs 321 on BSE as US crude oil futures advanced for a 4th straight day as TransCanada Corp. said it will start part of its Keystone XL pipeline next month and data showed United States crude inventories fell.

- Fedders Lloyd Corporation closed 1.71% down at Rs 28.70 on BSE as the stock turned ex-dividend on 4th December 2013, for dividend of Rs 1 per share for the year ended 30 June 2013.

- Dish TV India surged 3.97% to Rs 60.20 on BSE after a block deal of 12.74 lakh shares was executed in the counter on BSE at Rs 60 per share at 13:51 IST.

MARKET VIEW AS ON 03/12/2013

Views on markets today

- Markets ended higher on Monday as better-than-expected second quarter GDP numbers released late Friday boosted the sentiment.

The 30-share Sensex ended up 106 points at 20,89- and the 50-share Nifty ended up 42 points at 6,218.

- Among the 13 Sectoral Indices 12 indices closed in positive while 1 sector ended in negative. Top Gainers: BSE Healthcare up by 2.00%, BSE Capital Goods by 1.61% and BSE Bankex by 1.16%. Top Loser: BSE Oil & Gas down by 0.38%.

Market breadth was positive at ~1.45 as investors bought large cap stocks. On provisional basis, FII's bought Rs 7.90bn worth of Indian equities and DII's bought Rs 6.18bn worth of equities.


Economic and Corporate Developments

- After contracting for three consecutive months, manufacturing activity saw an eight-month high expansion in November as rising domestic orders provided impetus, according to the widely-tracked HSBC Purchasing Managers' Index (PMI).

The HSBC PMI for manufacturing stood at 51.3 points in November, up from 49.6 points in October this year. A reading below 50 points to contraction, while one above it shows expansion.

- Committed to keep fiscal deficit under check, Prime Minister Manmohan Singh has convened a high-level meeting today to push forward the disinvestment programme with a view to achieve the budgetary target of Rs 40,000 crore in the current fiscal.

The meeting, according to sources, will be attended by Finance Minister P Chidambaram, and other concerned ministers.

"PM wants to review the progress with regard to disinvestment programme. Issues concerning Coal India, Bhel, Hindustan Zinc and Balco are likely to be discussed," according to a source.

The government has budgeted to raise Rs 40,000 crore from minority stake sale in PSUs in the current fiscal. With eight months of the fiscal over, it has managed to garner only over Rs 1,325 crore through stake sale in six PSUs.


Buzzing Stocks

- Jubilant Life Sciences closed 4.89% up at Rs 145.95 on BSE, with the stock extending Friday's rally triggered by the company receiving abbreviated new drug application approval from USFDA for a generic version of AstraZeneca's Seroquel.

- Shoppers Stop surged 4.62% to Rs 345 on BSE after a block deal of 4.5 lakh shares was executed in the counter on BSE at Rs 331.05 per share at 10:30 IST.

- Eicher Motors closed 6.83% up at Rs 5,006.10 on BSE, extending recent gains triggered by a foreign brokerage upgrading the stock to buy from underperform.

- State Bank of India rose 1.35%, in the early trade to Rs 1,846 on BSE after the bank said it plans to raise up to Rs 9,576 crore through issue of equity shares to institutional investors or a follow-on public offer or any other mode.

- Swan Energy closed 2.92% up at Rs 111.11 on BSE after the company said it has been selected by the Gujarat Maritime Board as the developer for a Greenfield project in Gujarat.

- ONGC closed 1.54% down at Rs 293.90 on BSE on reports the Gujarat high court on Saturday, 30 November 2013, directed the company to pay royalty dues worth over Rs 10,000 crore to the state government.

- L&T closed 2.22% up at Rs 1,066.55 on BSE after the company said it is evaluating alternatives for monetisation of certain assets of its subsidiary L&T Infrastructure Development Projects.

- Amtek India closed 19.96% up at Rs 80.85 on BSE after net profit surged 86.9% to Rs 55.13 crore on 48.9% increase in net sales to Rs 558.25 crore in the quarter ended September 2013 over the quarter ended September 2012.

- Maruti Suzuki India closed 0.96% down at Rs 1,661.35 on BSE after the company said its total sales declined 10.7% to 92,140 units in November 2013 over November 2012.

- Idea Cellular rose 1.37% to Rs 177.85, in the early trade, on BSE after the company said its board has approved increase in the aggregate investment limit of Foreign Institutional Investors from 24% to 49% of the paid-up equity capital of the company.

- Power Grid Corporation of India closed 1.74% down at Rs 93.40 on BSE as the price band for the company's follow on public offer was set at a discount to ruling market price.

- Financial Technologies (India) closed 0.30% down at Rs 166.20 on BSE after net profit fell 61.16% to Rs 27.01 crore on 12.83% decline in total income to Rs 128.92 crore in Q2 September 2013 over Q2 September 2012.

- Mahindra & Mahindra closed 1.34% up at Rs 958.25 on BSE after the company said its total auto sales declined 18% to 39,255 units in November 2013 over November 2012.

MARKET VIEW ON 2/12/2013

Views on markets today

- Markets closed on strong note with the BSE benchmark index gaining 257 points to end at 20,791 and the Nifty closed at 6,176, adding 84 points ahead of the provisional second quarter GDP and fiscal deficit data for Apr-Oct, which was announced after market hours.

- NHPC closed 1.97% up at Rs 18.15 on BSE as the company's buyback offer commenced on Friday, 29th November 2013.

- Nestle India closed 1.56% down at Rs 5,137.30 on BSE, with the stock extending Thursday's 4.24% slide triggered by the company's overseas parent Nestle S.A.'s clarification that there is no plan at present to increase stake in Nestle India.

- All the 13 BSE Sectoral Indices closed in positive. Top Gainers: BSE Bankex up by 2.21%, BSE PSU by 1.88% and BSE Capital Goods by 1.79%.

Market breadth was positive at ~1.3- as investors bought large cap stocks. On provisional basis, FII's bought Rs 7.45bn worth of Indian equities and DII's bought Rs 1.01bn worth of equities.


Economic and Corporate Developments

- Giving no respite to the government's hope of a more than 5% economic growth in 2013-14, the Gross Domestic Product (GDP) growth continued to remain sluggish in the second quarter, however up from the previous quarter. The GDP grew 4.8% in the second quarter of 2013-14 against 4.4% in the previous quarter. In the corresponding period last year, the GDP growth was 5.2%.

This takes the economic activity expansion in the first half of the year to 4.6%. The figures may be quite contrasting from the optimism displayed by the Finance Ministry to rein in the deficit at 4.8% of GDP in the current financial year.

Data released by the Controller General of Accounts on Friday showed that the deficit stood at Rs 4.57 lakh crore during April-October, 2013-14 against the Budget Estimate of Rs 5.43 lakh crore for the financial year.


Buzzing Stocks

- Jubilant Life Sciences closed 9.78% down at Rs 139.15 on BSE after the company said it has received abbreviated new drug application approval from USFDA for a generic version of AstraZeneca's Seroquel.

- Tech Mahindra rose 1.13%, in the early trade, to Rs 1,710 on BSE after the company said its board approved the amalgamation of Mahindra Engineering Services with the company.

- Syndicate Bank closed 5.71% up at Rs 88.85 on BSE after the bank said its board of directors will meet on 3 December 2013 to consider issue of equity shares aggregating to Rs 200 crore by way of preferential allotment to Government of India.

- MRF closed 1.38% down at Rs 17,316.45 on BSE after net profit rose 11.73% to Rs 184.10 crore on 4.87% growth in total income to Rs 3,159.80 crore in Q4 September 2013 over Q4 September 2012.

- Dr Reddy's Laboratories closed 1.15% up at Rs 2,484.85 on BSE, extending Thursday's 1.27% rise triggered by hopes that the company's market share of generic Toprol may rise after a plant operated by its competitor Wockhardt received import alert.

- Alphageo (India) closed 3.46% up at Rs 43.35 on BSE after the company secured two separate contracts worth an aggregate of Rs 47.87 crore for acquiring 2D and 3D seismic data.

- Shoppers Stop jumped 5.33%, in the early trade, to Rs 338.65 on BsE after IDFC Mutual Fund bought the company's shares through open market on Thursday, 2- November 2013.

- Sesa Sterlite closed 4.42% up at Rs 183.00 on BSE on reports that the government may take a decision later on 29th November 2013, on the long-delayed plans to sell government's stake in Balco and Hindustan Zinc.

- Wockhardt rose 1.45%, in the early trade, to Rs 430 on BSE, with the stock recovering on bargain hunting after recent slide triggered by firm receiving a warning letter from USFDA for its two manufacturing units in Aurangabad.

- Steel Strips Wheels closed 4.00% up at Rs 146.95 on BSE after the company said it received an export order worth approximately $5 million from SSangYong Motors Company, Korea.

- Reliance Power closed 2.49% up at Rs 71.95 on BSE after the company said that pre-commissioning activities have commenced for its concentrated solar power project in Rajasthan's Jaisalmer district.

- IL&FS Transportation Networks closed 3.46% up at Rs 127.00 on BSE after the company said its Spain-based subsidiary received a road maintenance contract in Ukraine worth approximately Rs 427 crore.