UBS - India Oil and Gas Sector India oil monthly: March Issue

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UBS Investment Research
India Oil and Gas Sector
India oil monthly: Issue 7
􀂄 Monthly oil demand growth further slows down
Based on data from Reuters and PPAC, India’s domestic oil product demand rose
2.4% YoY (4.6% in Jan’11) to 3.06mbpd in Feb’11. The growth was supported by
higher gasoline and jet fuel use. YTD demand growth remained at 2.4% like in
Jan’11 which is below expectations. Oil demand grew 1.4% in H1FY11.

Lower than expected H1 borrowing; GoI to raise INR 2.50trn in H1FY12 : Edelweiss

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Lower than expected H1 borrowing; GoI to raise INR 2.50trn in H1FY12
Gross borrowing of INR 2.50trn; redemption of INR 600bn in H1FY12
 GoI announced a gross borrowing of INR 2.50trn for H1FY12. With redemption of INR 600bn
due in H1FY12, the net borrowing figure for the first half of FY12 will be INR 1.90trn
 The borrowing is likely to be in tranches of INR100bn-INR120bn for the first twenty six weeks
of the H1FY12
 GoI did not announce a new 10 year benchmark and will take a call on the same while
deciding the borrowing calendar. With the 7.80% 2020 bond exhausting its assumed ceiling
limit of INR 600bn; GoI is likely to introduce a new 10 year benchmark by April
 For H1FY11 GoI had set a target to borrow INR 2.87trn out of the total borrowing of INR
4.57trn and eventually ended up borrowing INR 2.80trn
 GoI will end the current financial year with a gross borrowing of INR 4.37trn and a net
borrowing of INR 3.25trn (truncated borrowing in Dec-10 due to excess cash balance
available with GoI)
Lower than expected borrowing in H1; 60% of the budgeted borrowing
 Based on the past borrowing trend; GoI has planned a lower than expected borrowing in H1.
Typically GoI borrows 62%-63% of the total budgeted borrowing in H1 however for H1 FY12
the borrowing is only 60%
 GoI move to borrow more than the usual in the H2FY12 is mainly to control the current strain
on the liquidity. With the weekly supply reducing to INR 100bn – INR 110bn against INR 110bn
– INR 120bn (if GoI borrowed 63% in H1FY12), it is likely to provide some respite to the
liquidity situation and in line with the central bank’s stance to actively manage the liquidity
 GoI currently holds a comfortable cash balance of INR 900bn and is likely to draw down this
balance during the first half of FY12
 Lower borrowing in the first half may also be a signal for the government’s confidence that
there will be no slippage on the fiscal side. With under provisioning of subsidies in the Union
Budget FY12, this move is likely to provide a boost to the sentiment in the bond market
Net borrowing higher by 22% in H2FY12; pressure on private sector off take
 Although gross borrowing for H2FY12 will increase only by 6% YoY, a net borrowing of INR
1.53trn in H2FY12 is 22% higher than H2FY11 mainly on account of lower redemption in the
second half the next financial year
 Higher net borrowing in H2 is likely to put pressure on interest rates once the demand for
the private sector picks up (slippage due to higher subsidy bill during the second half is going
to be another crucial factor to decide the direction of the yield)

Macquarie Research, – Japan Implications of Best Buy results

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MacqTech Express – Japan
Implications of Best Buy results
Event
 Best Buy (BBY US, NR) overnight released weak FY4Q11 results ended
February. US SSS (same store sales) declined 6% YoY, and CE SSS and
Entertainment sales declined 7% and 14% YoY respectively. The trend is
largely similar to the previous quarter that saw lower demand in BBY’s key
categories such as TVs and notebook PC, and market share loss in game.
Impact
 TV sales weak. We assume weak TV sales were due to the continued
unfavourable trend for BBY, as demand for IPTV and 3D TV was lower than
expected. We also assume the ongoing trend from the previous quarter was
unavoidable, because global brands such as Sony did not launch 2011 TV
models in January/February.
 Notebook sales weak, partially offset by mobile phone increase. Similar
to the previous quarter, management indicated that NB sales declined YoY due
to higher base resulting from the Windows 7 launch last year. Also, it highlighted
the SSS increase in mobile phones, driven by an increase in smartphone.
 BBY’s FY12 outlook. In terms of FY12 outlook, BBY does not foresee a
particularly exciting environment for TV, but sees growing opportunities in
categories such as mobile, appliances, and game.
Outlook
 BBY’s moderate outlook for TV sales in the US does not come to us as
surprise, as we estimate a mere 3% US TV shipment growth in 2011. Our
checks indicate overall US TV inventory has been digested since December
and global TV makers are launching or planning to launch 2011 TV models in
March/April. On that note, we continue to expect a recovery in TFT-LCD sales
in 1H11. We prefer Samsung among TV brands, and like AUO and LGD
among panel makers, and Coretronic, Radiant, AGC/NEG and Nitto Denko in
the LCD supply chain.
 While BBY’s intention to grow in game is likely to be driven by companyspecific
reasons as it plans to grow the game business through a new
strategy, we are also positive on Nintendo and its DS launch.

IPO Grey Market Premium: ; Shilpi Cable ; PTC Financial : March 28th 2011

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Company Name	Offer Price	Premium
	(Rs.)	(Rs.)
PTC India Financial Services	26 to 28	Discount
Shilpi Cable	65 to 69	4 to 5

  

FRAMES 2011: Key highlights from the seminar : Edelweiss

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Most industry players upbeat and expect better growth rate this year against last year.
Sector showed good recovery in 2010, growing at 11.0%, up from 1.4% in 2009.
Sector likely to grow at 14% CAGR over the next five years.
Television: Ad and subscription revenues expected to post 16% CAGR over the next five years.
TV households to expand to ~156 mn by 2015, up from 58% to 61% of total households. DTH will
be the dominant driver for digitisation; DTH ARPU to increase to INR 253 in 2015.
Print: Revenues to post 10% CAGR over the next five years. Hindi print ad market to grow at 1.5x
the rate of English. Circulation revenues to virtually remain flat.
Radio: Revenues to post 20% CAGR, faster than both TV and print, aided by increasing
acceptability of radio among advertisers and expansion from phase III.
Outdoor: Revenues to post 12% CAGR with improvement in infrastructure.
Digital: Fastest growth at 28% CAGR, propelled by increase in broadband and 3G usage.
Films: Better movie pipeline and growth in multiplexes to drive growth at 10% CAGR.
Slow rate of reforms is the key area of concern.
Top picks: Dish TV, Jagran Prakashan, IBN18. We are also positive on other Hindi print
and radio players like ENIL.

Rollover Analysis-Market-wide OI (D-3 Days): Market-wide roll 41%; Nifty roll 43% : Edelweiss

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On the D-3 day, rollovers on both market wide and Nifty gained momentum. At the
market wide front, ~41% of the positions have been rolled over to the April series.
This is higher than the ~28% positions getting rolled over on the D-3 of the February
series. Market wide futures OI currently stands at ~INR 566 bn (~INR 571 bn on D-3
of last expiry). Roll cost (cost to long rollers) levels in stock futures was ~75 bps
during the day.
On the Nifty front, the OI currently stands at ~INR 182bn (~INR 173 bn on D-3 of
the last expiry). Around 43% of the total Nifty positions have been moved into the
April series till date as compared to 25% on D-3 of February expiry. Long roll
aggression was clearly evident during the major part of the day. Nifty roll cost for the
long rollers which started the day at 21 points expanded to ~30 points. Average Nifty
roll cost was ~26 points (cost to long rollers). Around 9,256 Nifty contracts got
rolled, while ~54,560 contracts were added in the near month.


Among the sectors, FMCG, power and IT stocks have witnessed good rollovers. Rollover in FMCG and power stands at
~49% and ~44% respectively. Counters with prominent rollovers are Zee Ltd (~63%), IOC and Hindustan Unilever
(~56% each). Rollovers have been relatively weak in auto (~33%).
Focus Stock
􀂄 Zee Ltd (Z): The stock witnessed ~63% of its positions getting rolled into the next series. The rollovers this
expiry is on the higher side as compared to the D-3 of the February expiry (~57%). The OI in the counter is
~5.8mn shares and the rolls were happening at a profit of ~58-60bps in today’s session.
􀂄 IOC (IOCL): Around 56% of the total positions have been rolled into the April series, which is higher as
compared to D-3 of the previous expiry (~41%). The counter holds an OI of ~2.99mn shares. Rolls were
happening at a profit of ~78-80 bps.
􀂄 Hindustan Unilever (HUVR): Nearly 56% of the positions have got rolled into the April series, as compared
to ~31% rolls witnessed on D-3 of the previous expiry. The stock holds an open interest of ~19.5mn shares.
The counter was rolling at a loss of ~65-68bps (loss to short rollers) way below the market wide roll cost levels
of ~75 bps (profit to short rollers).

Strong demand to meet SLR requirement; 11 Yr bond ends at 8.01% :Edelweiss

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Strong demand to meet SLR requirement; 11 Yr bond ends at 8.01%
Government securities
 Sovereign bonds traded in a narrow range with the underlying sentiment boosted
by the lower than expected H1FY12 borrowing. On Friday, GoI announced its gross
borrowing plan of INR 2.50trn for Apr-11 to Sep-11. Majority of the borrowing
(74%) is in the less than 14Yr segment while 26% of the borrowing will be in the
longer maturity securities to serve the demand from insurance companies &
pension funds. The 11 Yr bond closed 1 basis lower at 8.01% with strong demand
from banks in order to meet their SLR of 24% towards the end of the financial
year
Non-SLR market
 Short term rates for value date in April fell by 100 bps to around 8.90% - 8.95%
as there is lower demand from banks to place CDs after March. Three month CDs
(March value date) quoted at 9.90%-9.95% while one year CDs were quoted at
9.95%-10.00%. IOB & Andhra Bank placed INR 15bn & INR 7bn of three month
CD at 8.95% while State Bank of Travancore placed INR 1bn of three month CD at
8.85%. Andhra Bank also placed INR 2.75bn of one year CD (March value) at
10.10% while Vijaya Bank placed INR 3.50bn of one year CD at 10.20%. Bank of
India placed INR 9bn of three month CD at 9.60% and INR 6bn of one year CD at
9.95%.
Money markets
 Call rates are likely to remain under pressure in this fortnight as the year end
approaches and banks refrain from the interbank lending. Banks that were keen on
borrowing preferred to use the CBLO window as the rates there were much lower.
The central bank infused INR 8.78bn through the LAF facility compared to INR
741bn on Friday

Marico divests refined sunflower oil 'Sweekar' brand to Cargill : Edelweiss

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Marico
Marico divests refined sunflower oil 'Sweekar' brand to Cargill (I) for an
undisclosed consideration
· Marico offered Sunflower oil through Sweekar brand, which was a non-focused brand for
the company
· Sweekar was ~5% of Marico’s sales and had wafer thin margins
· In edible oil, Adani Wilmar is positioning the sunflower oil product as less oil absorbent.
Marico had played this theme years back (through Sweekar brand in sunflower oil) and
had started focusing on the Saffola brand as good for heart i.e. health and wellness
platform (Marico’s Saffola variants have different combination of Safflower Oil, Corn Oil
and Rice Bran Oil).
Divesting of thin margin business is positive for Marico as it would lead to more focused
approach on core categories. We maintain ‘BUY’ on Marico.

Coal India - More Positive News Flow in the Offing; Overweight; Morgan Stanley Research,

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Coal India Limited
More Positive News Flow in
the Offing; Stay Overweight
What's Changed
Price Target Rs387.00 to Rs425.00
F11-F13 EPS Increased 5-6%
The Street may be positively surprised by Coal India
on announced price increases and production-related
news flow: Although the stock has outperformed the
Sensex by ~25% YTD, we expect further upside and are
raising our PT to Rs425, which implies potential upside
of 19% from current levels..
In our view, with the exception of the Street, every
stakeholder firmly believes in CIL’s ability to raise
coal prices. We expect CIL’s average price to increase
by 17% in F2012 and 10% in F2013. Our stance is been
buttressed by CIL’s price hike (of about 12.9%) in late
February 2011. More important, CIL appears to be
successfully setting a rational and acceptable modality
for its future price increases.
Why raise prices? 1) To beat cost inflation due to wage
hikes likely to come by July 2011, and other higher costs.
We model an average price hike of 9% from January 9,
2011. 2) Compensation for production loss – a new and
seemingly potent argument from CIL. 3) Save the
regulated part of the power industry, CIL believes all
consumers should pay import parity price. While this is
not new, we find CIL’s focus on this is encouraging.
Modality of price increases: While price hikes for
e-auction and A and B grades are being pursued more
aggressively, CIL will also look to pass through a further
price hike for the non-power sector even though it will
likely raise prices for power sector in F2H12.
The likely bottoming out of pessimism on
production growth (as news flow on regulatory hurdles
improves) should aid valuation multiple expansion:
EV/EBITDA of 7.7x on F2012E indicates healthy upside
to us given our EBITDA CAGR of 32% in F2011-13E.

Jobs, inflation bigger India worries than corruption: Mark Mobius (ET)

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Veteran emerging markets investor Mark Mobius cited unemployment, inflation and water as key concerns for India but downplayed worries about corruption, which has spooked many investors in the country. 

"Corruption is rife everywhere in the world," said Mobius, who oversees nearly $52 billion as chairman of Franklin Templeton's Emerging Markets Group, part of US asset manager Franklin Resources. 

A spate of corruption scandals, headlined by an auction of 2G mobile licences that may have cost the government as much as $39 billion in lost revenue, has battered the government of Prime Minister Manmohan Singh and rattled investors in Asia's third-largest economy. 

"It's only when it really impacts the process of a business in a big way, then you've got a big problem, but that's not the case here," he told reporters in the country's financial capital. 

While many investors are bullish on the long-term India story given a youthful population poised to deliver a so-called demographic dividend that contrasts with an aging China, Mobius cited unemployment in India as a worry. 

Inflation, including in food prices, and water usage are also concerns, he said. 

"My number one concern will be unemployment. Not too worried about that now because the economy is growing at a very fast rate, but that's one thing in certain parts of this country you've got to be careful about," he said. 

India, on track to grow at 8.6 percent in the fiscal year that ends this month, will need to create tens of millions of industrial jobs in coming years to help absorb an estimated 100 million people expected to join the workforce over the next decade. 

Mobius, who said he has seen little decline in investor risk appetite despite the crises in Japan and the Middle East, expects natural gas -- which has been a laggard in the recent commodities boom -- to see higher prices. 

"The only one that really hasn't moved very much is gas, but that is destined to move up as well," as a high oil price prompts a switch to gas, he said. 

India's benchmark Sensex share index is down 7.6 percent in 2011, making it the worst performer in Asia, with foreign investors net sellers this year after pouring in a record $29.3 billion in 2010. 

Headline inflation in India tops 8 percent despite eight interest rate increases since last March, with food prices a key inflation driver. 

At the end of February, Mobius's $16 billion Templeton Asian Growth Fund was 19.4 percent allocated to India, the fund's third-heaviest weighting after China and Thailand, with energy-based conglomerate Reliance Industries its only Indian holding in the top 10. 

While the fund was off 4.8 percent in US dollar terms in the first two months of this year, it had risen nearly 28 percent over 52 weeks and 14.4 percent on an annualised basis over five years

Credit Suisse, – 10 themes from the AIC -The key messages

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AIC – 10 themes from the AIC ------------------------------------------------------------------------------
The key messages


● On this 14th AIC by Credit Suisse with over 2,000 investors and
270 corporates we have been able to gain some very interesting
insights into markets and investor sentiment.
● We have also been able to gauge the level of optimism or lack
there off in the corporate presentations and one on one meetings.
● In this note we highlight ten themes that we have gathered from
the week-long AIC.
1. Managements are optimistic
● Positive tone: Almost everyone (40 plus companies and most
panelists)!
● Neutral: Mindray Medical, Esprit, Cathay Pacific, HK banks (Bank
of East Asia, WingHang), Telecoms (Mediatek, HTC, PLDT),
Utilities (CLP,HK & China Gas)
● Negative: Pacific Basin
2. Best performing in 2011: Energy and China H shares
● AIC attendees voted Energy and China H shares to be the best
performers in 2011. In ASEAN, Indonesia is the top pick.
3. Food inflation to ease in 2H
● Food price inflation to ease in 2H11, helping inflation as a whole
(CS global strategist)
● Oilseed crushing – the worst appears to be over in 3Q/4Q (Wilmar)
● Expecting palm oil and sugar prices to soften in 2H11 (Tingyi)
4. Energy – gas is becoming attractive
● Oil has to rise a lot more to derail growth. On the Middle East,
wealthy economies have the ability to deal with unrest (CS global
strategist)
● Japan nuclear crisis should not cause China to cancel its nuclear
power construction programme, but could lead to delays
(Professor, Xiamen University)
● Natural gas is becoming increasingly attractive for China as a
quasi clean fuel source (Professor, Xiamen University)
5. Japan earthquake – limited impact near term
● From Lenovo, Skyworth, HTC, Samsung Electronics, PT Borneo
Lumbung and Yue Yuen
● ASE (2311 TT) sees near-term disruptions from lack of BT resin.
6. China – optimistic on demand
● Demand for excavators strong, prices are likely to rise (Lonking)
● China starting to rebound (Lenovo)
● Cement prices stable/positive in Guangdong, Guangxi, Shanxi
(CR Cement)
● Pricing power remains – price adjustments accepted by
consumers (Tingyi)
● New high-speed railway in China to be key driver of growth
visitation to Macau (Galaxy)
● Expecting 10-15% sportswear sector growth (Anta)
● Aggressive new retail store expansion in 2012: 40 plus openings
in China versus 180 in Hong Kong/Asia now (Sa Sa)
● China is the new growth engine (Esprit)
7. China – foreign brands facing issues?
● Local brands – stronger in rural areas – are taking back share
from foreign ones – stronger in urban China. (Skyworth)
● Food & Beverages – China remains a difficult market with
overcapacity, but has made significant headway in Vietnam,
Indonesia etc. (FNN)
● Demand for lower-margin parallel import toiletries / cosmetics has
been strong versus own brands (Sa Sa)
8. Malaysia – transforming?
● Closer working relationship with Singaporean developers (UEM
Land)
● On the Economic Transformation Programme, the prime minister’s
office did two rounds of KPIs with cabinet ministries and some
have not met their targets (Malaysia government performance
management unit)
● Positive outlook for the Malaysian construction market (IJM)
9. More shipping bankruptcies
● Banks more stringent with enforcing loan covenants
● More shipping bankrupcies possible
10. Banks – flat NIM
● Thailand: expects competition to keep margins flat (Bangkok Bank)
● India: not expecting margins to come under pressure (HDFC) /
maintaining NIMs (ICICI)
● Hong Kong: expecting margins to stabilise (Wing Hang)

India's growth may disappoint quite significantly in 2011-2012: Credit Suisse (ET)

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In an interview with ET Now, Robert Prior-Wandesforde, Head of India and South East Asia Economics, Credit Suisse , talks about the expected hike in key policy rates, inflation and fund flows in the emerging markets . 

RBI has hiked interest rates once again in the near term. Do you see another rate hike in the May credit policy? When do you see the RBI pausing its rate hike cycle? 

The RBI probably will move again in May. Certainly the statement that obviously accompanied the last move was still pretty hawkish to my mind. The central bank is now with the mindset that it wants to get interest rates clearly above normal, clearly above some sort of long-term average because it recognises now that the economy is also running consistently above trend and consistently bumping into these capacity constraints and that is what is driving these persistent underlying inflationary pressures in the country. I suspect we will see another move in May and I do not think that will be the last either.

We expect further 25 basis point hike to come probably in July. Thereafter, we will see at least a pause. In fact, that may well be the last increase in rates that comes through because by around that time, we are going to start to see evidence that the economy is starting to weaken and that to my mind will put a halt to what has been a pretty aggressive interest rates tightening cycle.

When do you see inflation in India peaking because core inflation continues to remain high and oil prices continue to pose significant risk? 

We have seen both wholesale price inflation and consumer price inflation coming down over recent months. So we are already somewhat off the peak, but the trouble of course is that both key measures of inflation, wholesale price and consumer price, have flattened out a bit recently at more uncomfortably high levels of around 8% or so. 

Now that is too high for the Reserve Bank's comfort and it is symptomatic of these classy constraints that are there that are pushing up wage growth, that are keeping inflation expectations very high and to my mind, India amongst perhaps all Asian countries are the closest to see some wage prices spiral and that clearly is very dangerous situation is why interest rates have been going up and why they have to go up a little bit further. 

So what are your projections for inflation for this fiscal and the next? 

What we are going to see is wholesale price inflation in March this year of around 8% again. As far as 12-month time is concerned, obviously a lot in particular for wholesale prices depends on what happens to commodity prices. The structure is such that commodity prices are so instrumental to the development of wholesale price inflation. Our central scenario is that commodity prices overall flatten out around these levels. 

Under those circumstances, you do at least see a modest drop in the wholesale price inflation over coming months. By March next year, I would expect the rate to be somewhere in the order of 6% to 6.5%. That is, although better than some of the recent trends is again a little too high for comfort. 

What about the rate tightening cycle? Do you see that impacting the growth momentum or would you say that the market interest rates have peaked and therefore, the growth momentum will not be impacted by this factor at least? 

Growth is going to disappoint and perhaps disappoint quite significantly in 2011-2012. The first point to make is that the affected tightening of March policy has been one of the more than the actual increase in official policy rates from the Reserve Bank of India because of this big domestic liquidity squeeze. That has forced up short-term money market rates significantly. If we look at 3-month inter-bank rates (for example, they are now nearly 500 basis points from the low). This is a sizable monetary tightening that we seen in India and I do think interest rates matter in the country. 

Bonds witness a sharp rally on lower than expected borrowing plan for H1FY12: Edelweiss

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Bonds witness a sharp rally on lower than expected borrowing plan for H1FY12
Government securities
 Sovereign bond surged as a lower than expected borrowing in the first half of FY12
boosted sentiment. Out of the budgeted borrowing of INR 4.17trn, GoI announced
that it would borrow INR2.50trn, against an expected borrowing of INR 2.75trn,
during H1FY12. On a net basis, the government will borrow INR 1.90trn during
H1FY12. Due to a comfortable cash balance of INR 900bn and the tight liquidity
situation in the system, GoI was prompted to borrow only 60% of the total
borrowing during H1FY12 compared to 64.10% during H1FY11.
 Bonds rallied across maturity due to the lower supply in the first half of FY12. The
volumes of the central bank trading platform also increased to INR 110bn
compared to an average of INR 59bn during the fortnight. The most liquid 8.13%
2022 bond gained 5bps closing at 8.02% while the 7.99% 2017 bond closed 6bps
lower at 7.90%.
Non-SLR market
 Short term rates eased marginally due to improvement in the sentiment on the
longer end of the curve. However banks continued to borrow heavily through CDs
to meet their year-end target. So far in the month banks have mopped up INR
340bn through issuances of CDs. PNB raised INR 22bn of three month CD at
10.08% while Bank of Maharashtra placed INR 3bn of same maturity CD at
10.12%. Canara Bank and State Bank of Patiala placed INR 2.50bn each of one
year CD at 10.14%.
Money markets
 Overnight rates remained firm despite lower borrowing at the LAF window as
banks were reluctant to lend ahead of the year-end. LAF borrowing averaged INR
1trn during the current fortnight; however it was mainly skewed towards the first
week of the fortnight on expectation of an increase in the repo rate at the policy
meet on 17th March-11. Call rates are likely to hover in the 7.55%-7.65% range
due to the strong interbank demand towards the end of the financial year.

NSE, Bulk deals, 28-Mar-2011

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Symbol	Security Name	Client Name	Buy / Sell	Quantity Traded	Wght. Avg.  Price
ACROPETAL	Acropetal Tech Ltd	AJAY	BUY	1,99,563	69.82
ACROPETAL	Acropetal Tech Ltd	AJAY	SELL	1,99,563	69.92
ACROPETAL	Acropetal Tech Ltd	BASMATI SECURITIES PVT LTD	BUY	1,02,050	68.00
ACROPETAL	Acropetal Tech Ltd	BASMATI SECURITIES PVT LTD	SELL	6,75,000	67.03
ACROPETAL	Acropetal Tech Ltd	CROSSEAS CAPITAL SERVICES PVT. LTD.	BUY	5,98,549	69.90
ACROPETAL	Acropetal Tech Ltd	CROSSEAS CAPITAL SERVICES PVT. LTD.	SELL	5,98,549	70.28
ACROPETAL	Acropetal Tech Ltd	DIPEN D CHANDRUVA (HUF)	BUY	2,00,000	67.00
ACROPETAL	Acropetal Tech Ltd	GROOVE FINANCE & INVESTMENT PRIVATE LIMITED	BUY	2,51,892	72.05

BSE, Bulk deals, 28/3/2011

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Scrip Code	Company	Client Name	Deal Type *	Quantity	Price **
530027	Aadi Inds	HEMANT RAMKUMAR TIWARI	B	58037	25.86
520123	ABC India-$	RAJYOG SHARE AND STOK BROKERS LTD	B	65000	147.88
520123	ABC India-$	SEAGULL ENTERPRISE	S	45000	148.00
533330	ACROPET TEC	CROSSEAS CAPITAL SERVICES PRIVATE LIMITED	B	600380	70.18
533330	ACROPET TEC	FINANCECORP CAPITAL INDIA PRIVATE LIMITED	B	196560	69.54

FII & DII trading activity on NSE and BSE as on 28-Mar-2011

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FII trading activity on NSE and BSE on Capital Market Segment

The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 28-Mar-2011.

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 28-Mar-2011 2889.97 1999.95 890.01

 

Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment

The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System on 28-Mar-2011.

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 28-Mar-2011 1519.73 1806.25 -286.52

 

 

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