BSE: 505688 | NSE: BHARATGEAR | ISIN: INE561C01019
Bharat Gear 9m EPS 7.55 Ceps 16.78
CMP- 52.35
RelinceCap has also big stake in this share
Wednesday, February 17, 2010
Tuesday, August 11, 2009
MONEY MORNING -> 11th Aug 2009
Wall Street posted modest losses on Monday, as traders cashed in on
recent gains ahead of some key economic reports on tap for this week,
including data on retail sales, industrial production and weekly jobless
claims. The key benchmark indices Dow Jones was down by 0.34%
and NASDAQ was down by 0.40%. The Asian bourses are trading
mixed with Nikkei marginally up by 0.20%, Hang Seng down by 0.67%
and Singapore Nifty up by 0.27%.
While most of the global markets are in the negative terrain, short
covering after the three straight days of fall is likely to keep the markets
flat for the day. Technically spot nifty may take resistance at
4465/4535/4630 levels and support at 4370/4305/4140 levels.
POST-MARKET ANALYSIS:
Concerns on below-normal rains and the speard of Swine flu, made the
Indian markets extend losses for the third straight day.The key
benchmark indices Sensex and Nifty were down by 0.99% and 0.98%
respectively.
FIIs’ were net sellers in equity and net buyers in derivatives.
ADRs: ICICI Bank(-5.91%), MTNL (-5.71%), DR Reddys labs (-3.75%)
& HDFC Bank (-3.01%).
NEWS TO USE:
POSITIVE
TATA MOTORS-owned Jaguar Land Rover (JLR) had successfully
secured a financing facility of up to £75 million (Rs 600 crore) with
Burdale Financial Ltd, a member of the Bank of Ireland Group.
July automobile sales released by the Society of Indian Automobile
Manufacturers (Siam) show a growth of 20.8% over the same month
last year, the highest such rise till now for the current financial year.
This growth comes from record sales of cars and utility vehicles, which
grew by 29.2%, and two-wheelers, whose sales surged by 20.1% last
month over the corresponding period last year.
GLENMARK PHARMACEUTICAL’S attempts to become the first
Indian company to develop a new drug may succeed by next year, as
its candidate for the anti-diarrhoea associated with HIV, named
Crofelemer, has moved into the final stage of clinical trials.
IOC and Adani Energy combine has bagged rights to retail CNG to automobiles and piped gas to industries in
Chandigarh and Allahabad by quoting a nil or zero pipeline tariff.
Daiichi Sankyo offer to acquire an additional 20% stake in ZENOTECH will not open on August 11.
India cut down heavily on the quantity of sugarcane used for producing sugar in 2008-09 season and diverted
more than 100 million tonnes (mt) of the crop for other purposes, even as the production of the sweetener
recorded a huge shortfall.
PETRONET LNG signed an agreement to import 1.5 million tons of LNG Australia.
TATA STEEL is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure
raw material security for its European operations.
Close on the heels of poor rain in June, deficient rainfall in July has pushed up tea prices further. If the current
trend of deficient rainfall continues, the year will end with a record shortfall of tea, more than what was
anticipated at the beginning of the year.
DABUR expects its health supplement brand Glucose D to clock in sales of around Rs 100 crore by the end of
this fiscal.
UNITECH Group has launched two residential projects in Chennai including Uni Homes in the affordable
segment in a southern suburb, and a Rs 4,500-crore township in North Chennai.
NEUTRAL
GMR GROUP is considering listing its global holding company on the London Stock Exchange (LSE) as a step
towards building a $10 billion global assets portfolio.
Direct to Home (DTH) operators could be asked to provide inter-operable set-top boxes to their customers with
the Competition Commission of India (CCI) seeing prima facie merit in a complaint filed by a consumer
organisation that it is in violation of competition laws.
FMCG majors like BRITANNIA, ITC and Parle Products are mulling price hikes and cost-cutting measures on
the back of a weak monsoon season, coupled with soaring sugar prices.
TATA MOTORS would deliver 3,000 Nano cars in Orissa in 2009-10 and 2010-11.
RBI is of the view that there is no case for an extension of deadline for restructuring of loans beyond August 30.
PUNJ LLOYD has raised Rs 670 crore through the issue of shares to institutional investors on a private
placement basis.
INDUSIND BANK has won the mandate from the Haj Committee of India to cater to the business of import and
distribution of Saudi Riyal currency notes for all government sponsored Haj pilgrims going to Saudi Arabia this
year.
FORTIS HEALTHCARE LTD fixed the ratio for the rights issue at two for every five equity shares held.
IDBI BANK announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009.
recent gains ahead of some key economic reports on tap for this week,
including data on retail sales, industrial production and weekly jobless
claims. The key benchmark indices Dow Jones was down by 0.34%
and NASDAQ was down by 0.40%. The Asian bourses are trading
mixed with Nikkei marginally up by 0.20%, Hang Seng down by 0.67%
and Singapore Nifty up by 0.27%.
While most of the global markets are in the negative terrain, short
covering after the three straight days of fall is likely to keep the markets
flat for the day. Technically spot nifty may take resistance at
4465/4535/4630 levels and support at 4370/4305/4140 levels.
POST-MARKET ANALYSIS:
Concerns on below-normal rains and the speard of Swine flu, made the
Indian markets extend losses for the third straight day.The key
benchmark indices Sensex and Nifty were down by 0.99% and 0.98%
respectively.
FIIs’ were net sellers in equity and net buyers in derivatives.
ADRs: ICICI Bank(-5.91%), MTNL (-5.71%), DR Reddys labs (-3.75%)
& HDFC Bank (-3.01%).
NEWS TO USE:
POSITIVE
TATA MOTORS-owned Jaguar Land Rover (JLR) had successfully
secured a financing facility of up to £75 million (Rs 600 crore) with
Burdale Financial Ltd, a member of the Bank of Ireland Group.
July automobile sales released by the Society of Indian Automobile
Manufacturers (Siam) show a growth of 20.8% over the same month
last year, the highest such rise till now for the current financial year.
This growth comes from record sales of cars and utility vehicles, which
grew by 29.2%, and two-wheelers, whose sales surged by 20.1% last
month over the corresponding period last year.
GLENMARK PHARMACEUTICAL’S attempts to become the first
Indian company to develop a new drug may succeed by next year, as
its candidate for the anti-diarrhoea associated with HIV, named
Crofelemer, has moved into the final stage of clinical trials.
IOC and Adani Energy combine has bagged rights to retail CNG to automobiles and piped gas to industries in
Chandigarh and Allahabad by quoting a nil or zero pipeline tariff.
Daiichi Sankyo offer to acquire an additional 20% stake in ZENOTECH will not open on August 11.
India cut down heavily on the quantity of sugarcane used for producing sugar in 2008-09 season and diverted
more than 100 million tonnes (mt) of the crop for other purposes, even as the production of the sweetener
recorded a huge shortfall.
PETRONET LNG signed an agreement to import 1.5 million tons of LNG Australia.
TATA STEEL is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure
raw material security for its European operations.
Close on the heels of poor rain in June, deficient rainfall in July has pushed up tea prices further. If the current
trend of deficient rainfall continues, the year will end with a record shortfall of tea, more than what was
anticipated at the beginning of the year.
DABUR expects its health supplement brand Glucose D to clock in sales of around Rs 100 crore by the end of
this fiscal.
UNITECH Group has launched two residential projects in Chennai including Uni Homes in the affordable
segment in a southern suburb, and a Rs 4,500-crore township in North Chennai.
NEUTRAL
GMR GROUP is considering listing its global holding company on the London Stock Exchange (LSE) as a step
towards building a $10 billion global assets portfolio.
Direct to Home (DTH) operators could be asked to provide inter-operable set-top boxes to their customers with
the Competition Commission of India (CCI) seeing prima facie merit in a complaint filed by a consumer
organisation that it is in violation of competition laws.
FMCG majors like BRITANNIA, ITC and Parle Products are mulling price hikes and cost-cutting measures on
the back of a weak monsoon season, coupled with soaring sugar prices.
TATA MOTORS would deliver 3,000 Nano cars in Orissa in 2009-10 and 2010-11.
RBI is of the view that there is no case for an extension of deadline for restructuring of loans beyond August 30.
PUNJ LLOYD has raised Rs 670 crore through the issue of shares to institutional investors on a private
placement basis.
INDUSIND BANK has won the mandate from the Haj Committee of India to cater to the business of import and
distribution of Saudi Riyal currency notes for all government sponsored Haj pilgrims going to Saudi Arabia this
year.
FORTIS HEALTHCARE LTD fixed the ratio for the rights issue at two for every five equity shares held.
IDBI BANK announced the repayment of its 11.5 per cent SLR bonds, 2009 on September 26, 2009.
Daily Calls- 11th Aug 2009
9:42 AM 8/11 RESEARCH: MARKET OUTLOOK: As we mentioned in the weekly market outlook newsletter that, NIFTY tested the key support level of 4620 suggesting weakness may persist till 4420 levels. Yesterday, NIFTY tested the support level of 4420 and if NIFTY breaks 4380 levels on daily closing basis then short sellers would be capturing the market till 4205 levels and further suggesting that the intermediate trend would be changing from uptrend to downtrend. For the intraday trading sessions, NIFTY may open flat to positive and it can be expected to trade sideways. If Nifty trades convincingly below 4420 and 4380 levels, then it is likely to test 4342 and 4315 levels. However on the upside 4510 and 4530 levels may act as resistance levels for the day. On the sectoral front, SUGAR and TEA stocks may witne
Saturday, August 8, 2009
WEEKLY MARKET OUTLOOK :- 8-8-2009
Watch NIFTY 4420 – 4380 Levels…
Overseas equity markets like US Index DOW JONES, Japanese Index NIKKEI, and
UK Index FTSE 100 witnessed considerable profit booking in the last week.
However, technically, the intermediate global market trend is likely to remain
uptrend. On the domestic front, the key benchmark indices witnessed selling
pressure in the preceding week on account of poor monsoon as well as profit taking
by investors. Foreign funds bought Rs. 1077.09 crore more shares than they sold
Rs.657.72 crores in the futures and options market, which indicates the increase in
risk appetite among the FII fraternity. Looking to the week ahead, we may see the
markets consolidating around the current levels of 4420 – 4560.
NIFTY created new
52 week high of 4731.45 and broken the key support level of 4620 suggesting
weakness may persist till 4420 levels. The intermediate trend would remain
uptrend, but if NIFTY breaks 4380 levels on daily closing basis then short sellers
would be capturing the market. However, if Nifty trades convincingly above 4560
levels, and then it is likely to test 4591-4653 levels.
Post Market Analysis
Domestic markets concluded the week in the negative terrain on account of selling
pressure across secors. unfavorable global cues and concern over monsoon led to
the bearish sentiments .
Friday, August 7, 2009
Calls for the 7th August
9:44 AM 8/7 RESEARCH-Global Market (in %): DOW JONES (-0.27%), S&P 500 (-0.56%), NASDAQ (-1.00%), FTSE (+0.93%), DAX (+0.32%), NIKKEI(-1.28%), HANG SENG (-1.57%) & SGX NIFTY (-37 POINTS)
9:55 AM 8/7 RESEARCHOSITIONAL CALL ON NIFTY FUTURES(RECOM.ON 31st JULY):EXIT NIFTY FUTURES @ 4550
10:54 AM 8/7 RESEARCH - INTRADAY CALL ( CASH ) : SHORT SELL TCS BELOW 513 TGT 485 SL 520
(8/7/2009 12:25:25 PM): RESEARCH - INTRADAY CALL ( CASH ) : SHORT SELL ADLABS FILM BELOW 336 TGT 323 SL 341
9:55 AM 8/7 RESEARCHOSITIONAL CALL ON NIFTY FUTURES(RECOM.ON 31st JULY):EXIT NIFTY FUTURES @ 4550
10:54 AM 8/7 RESEARCH - INTRADAY CALL ( CASH ) : SHORT SELL TCS BELOW 513 TGT 485 SL 520
(8/7/2009 12:25:25 PM): RESEARCH - INTRADAY CALL ( CASH ) : SHORT SELL ADLABS FILM BELOW 336 TGT 323 SL 341
Wednesday, August 5, 2009
RIL KG basin gas gets 5 new demanders
The already heated up RIL-RNRL gas dispute is likely to have five new stakeholders in the claim. Five more power plants have joined the fray for getting natural gas from RIL's KG-D6 fields and have even demanded a minimum allocation of 4.73 million cubic meters a day.
Among these new players, two power plants each in Delhi and Andhra Pradesh and one in Gujarat have demanded gas even before commissioning in the fiscal.
With a current production of 36 mmscmd gas from KG-D6, RIL supplies 18 mmscmd of gas to power plants. The total capacity to produce stands at 60 mmscmd but is hurdled to produce less as the government has not yet identified customers for buying gas beyond the initial 40 mmscmd, allocated primarily to fertiliser and power producers on a priority basis in accordance with the Gas Utilisation Policy.
RIL is bounded by the government terms not to sell gas to these and other users including its own refineries, until allocation is approved by the Government.
Among these new players, two power plants each in Delhi and Andhra Pradesh and one in Gujarat have demanded gas even before commissioning in the fiscal.
With a current production of 36 mmscmd gas from KG-D6, RIL supplies 18 mmscmd of gas to power plants. The total capacity to produce stands at 60 mmscmd but is hurdled to produce less as the government has not yet identified customers for buying gas beyond the initial 40 mmscmd, allocated primarily to fertiliser and power producers on a priority basis in accordance with the Gas Utilisation Policy.
RIL is bounded by the government terms not to sell gas to these and other users including its own refineries, until allocation is approved by the Government.
MONEY MORNING -> 5th Aug 2009
Wall Street posted modest rise as traders took a break from the recent
heavy buying. The key benchmark indices Dow Jones was up by 0.36%
and NASDAQ was up by 0.13%. The Asian bourses are trading mixed
with Nikkei down by 0.08%, Hang Seng up by 0.76% and Singapore
Nifty up by 0.62%.
While near-term trend continues to be positive, for intraday high degree
volatility can be expected. Technically spot nifty may take resistance at
4725/4775/4860 levels and support at 4640/4595/4505 levels.
POST-MARKET ANALYSIS:
Profit booking at higher levels limited the upside for the domestic
bourses. The key benchmark indices Sensex and Nifty were down by
0.59% and 0.66% respectively.
FIIs’ were net buyers in equity and net sellers in derivatives.
ADRs: Satyam Computers (+7.41%), Tata Motors (+4.33%), Patni
Computers (-4.93%) and Sterlite Ind. (-3.21%).
NEWS TO USE:
POSITIVE
RIL gas sales from its eastern offshore fields have risen to 35 million
cubic metres a day (mmscmd), the highest since the nation's most
prolific fields started producing in April.
Ministry has approved the sale of 8.38%of government equity in NMDC
that could fetch the exchequer around Rs 12,000 crore.
SAIL and TATA STEEL have hiked prices of flat steel products by up to
Rs 1,000 a tonne on account of improving demand in the country.
HCL INFOSYSTEMS has bagged an order of Rs 40 crore from SBI and
associated banks to deploy maintain and service automated teller
machines (ATMs).
RELIANCE INFRA has been awarded the Rs 11,000-crore Mumbai
Metro-II project on a Build Operate Transfer (BOT) basis.
HCC has bagged Rs 228.79 crore contract from Vidharbh Irrigation
Development Corporation for infrastructure.
The proposed 50:50 foundry and forging joint venture between Heavy Engineering Corporation and BHEL may
be incorporated and become operational within this fiscal.
ANDHRA BANK is targeting Rs 3,400 crore business during the current financial year.
DABUR entered the Rs 1,100 crore fairness cream market to take on the likes of HUL's 'Fairly & Lovely',
launching a new range of Ayurvedic products in the skin care segment.
TATA STEEL will take its annual production capacity to 16 million tonnes per annum (MTPA) by 2014 at an
estimated investment of about Rs 40,000 crore.
WIPRO TECHNOLOGIES has bagged a five-year IT services deal with Charming Shoppes Inc, the US-based
multi-brand speciality apparel retailers primarily focussed on plus-size women’s apparel.
NEUTRAL
Govt extends NELP VIII bid date by two months to October 12, 2009.
National Highways Authority of India (NHAI) is working on a proposal to scrap the 30 to 35% premium on toll
charged on highways that bypass cities.
ABG SHIPYARD has raised the open offer price to buy out drilling firm GREAT OFFSHORE to Rs 520 a share
from the Rs 450 announced last week.
STERLITE INDUSTRIES may get the support of rival bidder Harbinger Capital Partners in its takeover plan for
the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the
bankruptcy.
RIL will pick up a 67% stake in Krishna Godavari Gas Network Ltd (KGGNL), a joint venture promoted by the
Andhra Pradesh government, for undertaking city gas distribution in the state.
A follow-on public offer of REC to raise around Rs 2,900 crore is likely to come up by the end of the current
financial year
The public spat between the government and the Anil Dhirubhai Ambani (ADA) group continued today, with
downstream petroleum regulator Directorate General of Hydrocarbons (DGH) defending the $8.8-billion capex
plan of RIL for the KG-D6 field and reiterating the importance of the production sharing contract (PSC).
The civil construction of the 15 million tonne per annum (mtpa) refinery of the IOC at Paradeep is expected to
start by Decembder this year.
AXIS BANK will issue 71.4 million fresh equity shares through Global Depository Receipts (GDRs) or qualified
institutional placement (QIP) to support growth.
TATA STEEL is exploring possibilities for supplying skin panels to the world's largest car maker Toyota's
upcoming 'strategic' small car in India, to be launched by 2011.
DIVIS LABORATORIES has allotted over 6.48 crore equity shares of Rs 2 each as bonus to the shareholders
of the company in the ratio of 1:1.
KOTAK GROUP purchased a 51% stake in the Ahmedabad Commodity Exchange (ACE) and plans to convert
the regional exchange into a national one within a year.
BHARTI AIRTEL announced the creation of a new terrestrial cable network to Bhutan. As part of this initiative,
Airtel has inked an MoU with the Royal Government of Bhutan to extend fibre connectivity to the Himalayan
Kingdom.
GUJARAT ALKALIES AND CHEMICALS LTD plans to outsource manufacturing of its new toluene-based
products.
Strategy to be followed:
Buy on every decline and sell on every rally.
However, given the current high volatility of the markets, investors are advised to take a long-term investment
perspective.
Investors are advised to book profit even when the stock reaches 60-70% of the target.
Diversify the portfolio as it reduces the risk.
BOARD MEETING:
DATE COMPANY NAME PURPOSE
08 08 2009 HANUNG TOYS AND TEXTILES LIMITED Postal Ballot
10 08 2009 SMS PHARMACEUTICALS LIMITED Audited Accounts
13 08 2009 COLGATE PALMOLIVE (INDIA) LTD Interim Dividend/Record Date
08 09 2009 SHRENUJ & CO LTD Miscellaneous
TO VIEW
heavy buying. The key benchmark indices Dow Jones was up by 0.36%
and NASDAQ was up by 0.13%. The Asian bourses are trading mixed
with Nikkei down by 0.08%, Hang Seng up by 0.76% and Singapore
Nifty up by 0.62%.
While near-term trend continues to be positive, for intraday high degree
volatility can be expected. Technically spot nifty may take resistance at
4725/4775/4860 levels and support at 4640/4595/4505 levels.
POST-MARKET ANALYSIS:
Profit booking at higher levels limited the upside for the domestic
bourses. The key benchmark indices Sensex and Nifty were down by
0.59% and 0.66% respectively.
FIIs’ were net buyers in equity and net sellers in derivatives.
ADRs: Satyam Computers (+7.41%), Tata Motors (+4.33%), Patni
Computers (-4.93%) and Sterlite Ind. (-3.21%).
NEWS TO USE:
POSITIVE
RIL gas sales from its eastern offshore fields have risen to 35 million
cubic metres a day (mmscmd), the highest since the nation's most
prolific fields started producing in April.
Ministry has approved the sale of 8.38%of government equity in NMDC
that could fetch the exchequer around Rs 12,000 crore.
SAIL and TATA STEEL have hiked prices of flat steel products by up to
Rs 1,000 a tonne on account of improving demand in the country.
HCL INFOSYSTEMS has bagged an order of Rs 40 crore from SBI and
associated banks to deploy maintain and service automated teller
machines (ATMs).
RELIANCE INFRA has been awarded the Rs 11,000-crore Mumbai
Metro-II project on a Build Operate Transfer (BOT) basis.
HCC has bagged Rs 228.79 crore contract from Vidharbh Irrigation
Development Corporation for infrastructure.
The proposed 50:50 foundry and forging joint venture between Heavy Engineering Corporation and BHEL may
be incorporated and become operational within this fiscal.
ANDHRA BANK is targeting Rs 3,400 crore business during the current financial year.
DABUR entered the Rs 1,100 crore fairness cream market to take on the likes of HUL's 'Fairly & Lovely',
launching a new range of Ayurvedic products in the skin care segment.
TATA STEEL will take its annual production capacity to 16 million tonnes per annum (MTPA) by 2014 at an
estimated investment of about Rs 40,000 crore.
WIPRO TECHNOLOGIES has bagged a five-year IT services deal with Charming Shoppes Inc, the US-based
multi-brand speciality apparel retailers primarily focussed on plus-size women’s apparel.
NEUTRAL
Govt extends NELP VIII bid date by two months to October 12, 2009.
National Highways Authority of India (NHAI) is working on a proposal to scrap the 30 to 35% premium on toll
charged on highways that bypass cities.
ABG SHIPYARD has raised the open offer price to buy out drilling firm GREAT OFFSHORE to Rs 520 a share
from the Rs 450 announced last week.
STERLITE INDUSTRIES may get the support of rival bidder Harbinger Capital Partners in its takeover plan for
the bankrupt US copper mining firm, Asarco. Harbinger has decided to withdraw from the race, informing the
bankruptcy.
RIL will pick up a 67% stake in Krishna Godavari Gas Network Ltd (KGGNL), a joint venture promoted by the
Andhra Pradesh government, for undertaking city gas distribution in the state.
A follow-on public offer of REC to raise around Rs 2,900 crore is likely to come up by the end of the current
financial year
The public spat between the government and the Anil Dhirubhai Ambani (ADA) group continued today, with
downstream petroleum regulator Directorate General of Hydrocarbons (DGH) defending the $8.8-billion capex
plan of RIL for the KG-D6 field and reiterating the importance of the production sharing contract (PSC).
The civil construction of the 15 million tonne per annum (mtpa) refinery of the IOC at Paradeep is expected to
start by Decembder this year.
AXIS BANK will issue 71.4 million fresh equity shares through Global Depository Receipts (GDRs) or qualified
institutional placement (QIP) to support growth.
TATA STEEL is exploring possibilities for supplying skin panels to the world's largest car maker Toyota's
upcoming 'strategic' small car in India, to be launched by 2011.
DIVIS LABORATORIES has allotted over 6.48 crore equity shares of Rs 2 each as bonus to the shareholders
of the company in the ratio of 1:1.
KOTAK GROUP purchased a 51% stake in the Ahmedabad Commodity Exchange (ACE) and plans to convert
the regional exchange into a national one within a year.
BHARTI AIRTEL announced the creation of a new terrestrial cable network to Bhutan. As part of this initiative,
Airtel has inked an MoU with the Royal Government of Bhutan to extend fibre connectivity to the Himalayan
Kingdom.
GUJARAT ALKALIES AND CHEMICALS LTD plans to outsource manufacturing of its new toluene-based
products.
Strategy to be followed:
Buy on every decline and sell on every rally.
However, given the current high volatility of the markets, investors are advised to take a long-term investment
perspective.
Investors are advised to book profit even when the stock reaches 60-70% of the target.
Diversify the portfolio as it reduces the risk.
BOARD MEETING:
DATE COMPANY NAME PURPOSE
08 08 2009 HANUNG TOYS AND TEXTILES LIMITED Postal Ballot
10 08 2009 SMS PHARMACEUTICALS LIMITED Audited Accounts
13 08 2009 COLGATE PALMOLIVE (INDIA) LTD Interim Dividend/Record Date
08 09 2009 SHRENUJ & CO LTD Miscellaneous
TO VIEW
Subscribe to:
Posts (Atom)
