02 July 2012

Silver lining in the midst of dark clouds --ShareKhan PDF link



Silver lining in the midst of dark clouds  
Markets are poised for relatively better times ahead
Market negotiates through a tough global environment and a seasonally weak summer: In our last Market Outlook report released in early May (titled "The heat is on"), we had turned cautious against the backdrop of the rising crude prices and the nervousness prior to some important global and domestic events in the already seasonally weak summer period. The market did lose some ground and the overall pessimism only heightened on the back of the Reserve Bank of India (RBI)'s status quo on policy rates, the downgrade of India's rating outlook and the fragile euro situation during the last two months. However, we believe that the Indian equity market has negotiated the tough period without much damage and is potentially poised for relatively better times over the next few months. 


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Week ended June 29, 2012: ICICI Sec Weekly update : Market and Economy



WEEKLY ROUND UP
Global update                                                                
• German Chancellor Angela Merkel, in the meeting of four largest Euro zone members – Germany, France, Spain and Italy –
held last Friday, reiterated her opposition to Italy’s proposal of using the bailout funds - EFSF or ESM - to buy sovereign
bonds. Merkel also confirmed her opposition to directly recapitalizing banks.
• In a surprisingly positive development in the EU Summit on Jun 28-29, the leaders have agreed to form a single
supervisory body for banks and allow them to be recapitalized directly using the bailout funds, without adding to
Government debt. Moreover, the countries complying with the EU budget policies would get access to the EFSF and ESM
to gain stability in their bond markets. Meanwhile, Italy and Spain refused to sign off on a EUR 120 bn growth package
until Germany approved short-term measures to ease their cost of credit
India Update
• The measures taken by RBI to stem rupee's fall included increase in the FII limits in bonds to USD 20 bn from USD 15 bn
and extending the limit on ECB borrowings by USD 10 bn for manufacturing and infrastructure sector companies. The RBI
also allowed qualified investors to invest in mutual fund schemes that hold at least 25% of their assets in the
infrastructure sector.
• Prime Minister Manmohan Singh who has also taken over the mandate of a Finance Minister asked officials to formulate
an economic revival plan in part addressing problems in tax policy. Meanwhile, the CBDT released draft guidelines for
GAAR, which said that the rule will not be invoked in case of non-resident investment of FII. Further, the capital market
transactions are also entirely exempted from GAAR provisions.
• Government panel recommended major changes in Diesel subsidy including fixed diesel subsidy and cut in custom and
excise taxes. Indian state run oil marketing companies, on Thursday, decided to cut petrol price by INR 2.46/litre, which
came into effect from  Thursday midnight as international oil prices fell to their lowest level since December 2010.


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2 July: Microsec: Weekly Market Report, Outlook and Technical Report.



OUTLOOK
Indian markets closed on a strong footing which were in line with our expectations. With positive vibes from the PM and FM on GAAR and other economic policy, backed by strong global markets towards weekend helped gain in Indian markets. The EU concluded their 2-day meeting with euro-zone leaders agreeing to relax conditions for recapitalizing lenders amid speculation China may do more to help economy grow faster. Cement, Auto and Metal production data and the news-flow on monsoons may hog the limelight during the week, and so shall policy measures from the government. We recommend to BUY M&M, Andhra Bank, Godrej Ind. with trading perspective and Cummins India, Indian Hotels,  and IL&FS Transportation with long term investment perspective. We may also BUY on DIPS only L&T, Exide, Castrol, LICHF, TCS.






Regards,

Team Microsec Research



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Auto Sales Update - Slowdown continues; Edelweiss, PDF link


Slowdown persisted in June, especially in cars, two wheelers and MHCVs, though utility vehicles and light commercial vehicles continued to perform well. Tractor sales for Mahindra & Mahindra (M&M) reversed the declining trend with 5% YoY growth. Car sales were affected by the steep hike in petrol prices in May 2012. Maruti Suzuki (MSIL) managed to report decent growth due to favarouble base and recent launches. Tata Motors’ (TTMT) MHCV sales stayed weak due to pre-buying in Q4FY12 and slowdown in the economy. Hero Motocorp’s (HMCL) growth dipped to 4% YoY in the absence of wedding season benefit. We prefer MSIL (an early interest rate cycle play) and M&M (quasi interest rate play with new launches in automotive segment). 

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FII DERIVATIVES STATISTICS FOR 02-Jul-2012



FII DERIVATIVES STATISTICS FOR 02-Jul-2012 
 BUYSELLOPEN INTEREST AT THE END OF THE DAY 
 No. of contractsAmt in CroresNo. of contractsAmt in CroresNo. of contractsAmt in Crores 
INDEX FUTURES37705984.69390331026.6649622412874.23-41.98
INDEX OPTIONS3186118370.573083488079.48128561333928.32291.09
STOCK FUTURES481991328.72514691380.8387907423551.98-52.12
STOCK OPTIONS23099643.0523100646.2123174664.24-3.16
      Total193.83

 


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Engineering & Construction - Railways: The next growth engine; sector update; Edelweiss, PDF link


The Dedicated Freight Corridor (DFC) project is being implemented to speed up rail freight movement via two corridors—Delhi-Mumbai and Delhi-Kolkata—of over 3,322 kms at a cost of over INR800bn-1,000bn over the next five years. Similarly, Delhi Metro, having completed phase I and II, is now targeting completing Phase III by 2016 at a cost of INR352bn. Ergo, we expect these two large projects to generate construction contracts worth INR681bn and systems contracts worth INR350bn. Rolling stock contracts is the additional opportunity for both projects.

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External Trade - Deficit widens; Edelweiss, PDF link

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Eagle Eye (equities) [For July 02, 2012] Sharekhan PDF link



Eagle Eye (equities)
[For July 02, 2012]
 Summary of Contents
 
PUNTER'S CALL



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Download Report of Standing Committee On Finance On Companies Bill 2011


Dear Subscriber,


Download Report of Standing Committee On Finance On Companies Bill 2011


The Standing Committee on Finance in the Lok Sabha has delivered a comprehensive report on the Companies Bill 2011. The report was presented to the Hon’ble Speaker of the Lok Sabha on 26.06.2012


Regards,

Editor,



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Download Draft General Anti-Avoidance Rules (GAAR) Guidelines



Download Draft General Anti-Avoidance Rules (GAAR) Guidelines


Vide letter dated 28.06.2012, the Director General of Income-tax has issued draft guidelines in respect of the General Anti-Avoidance Rules (GAAR). GAAR is scheduled to become applicable w.e.f. 1.4.2013. The guidelines contain illustrations to explain how the GAAR provisions will apply together the draft of the forms required to be filled in. Comments can be forwarded till 20.07.2012


Regards,

Editor,



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FII & DII trading activity across NSE and BSE 02-07-2012



CategoryBuySellNet
ValueValueValue
FII2104.111513.05591.06
DII783.21230.69-447.49

 


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Daring Derivatives [For July 02, 2012] Sharekhan PDF link

Daring Derivatives
[For July 02, 2012]
 Summary of Contents
 
DARING DERIVATIVES
Derivatives Summary
  • Nifty (July) futures' premium over spot Nifty has increased to 18.45 points from 6.60 points.
  • Total open interest in the market was Rs101,635 crore and Rs16,099 crore was added in open interest.
  • Nifty call options added 71.56 lakh shares in open interest whereas put options added 89.32 lakh shares in open interest.
Click here to read report: Daring Derivatives
 



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NSE, Bulk deals, 02-Jul-2012



DateSymbolSecurity NameClient NameBuy / SellQuantity TradedTrade Price /
Wght. Avg.
Price		Remarks
02-Jul-2012ARSSINFRAARSS Infra Proj. LtdHRIDAYNATH CONSULTANCY PRIVATE LIMITEDSELL87,24645.53-
02-Jul-2012FCHFuture Capital Holdings LESSAY COMMERCIAL RESOURCES PVIVATE LIMITEDBUY12,50,000156.00-
02-Jul-2012FCHFuture Capital Holdings LSAIN SAMEER SUSHILSELL12,50,000156.00-
02-Jul-2012HOTELRUGBYHotel Rugby Ltd.JAIPRAKASH D AGARWALBUY97,75017.36-
02-Jul-2012HOTELRUGBYHotel Rugby Ltd.JAIPRAKASH D AGARWALSELL35,39717.09-
02-Jul-2012HOTELRUGBYHotel Rugby Ltd.MAUNIK MAHENDRA THACKERSELL1,25,00017.05-
02-Jul-2012INDOWINDIndowind Energy LimitedASHWINBHAI SURENDRABHAI SHETHBUY10,05,3766.05-
02-Jul-2012INDOWINDIndowind Energy LimitedASHWINBHAI SURENDRABHAI SHETHSELL10,05,3765.74-
02-Jul-2012INDOWINDIndowind Energy LimitedD & H SECHERON INFRASTRUCTURE PRIVATE LIMITEDBUY10,00,0005.50-
02-Jul-2012INDOWINDIndowind Energy LimitedD & H SECHERON INFRASTRUCTURE PRIVATE LIMITEDSELL10,00,0006.39-
02-Jul-2012INDOWINDIndowind Energy LimitedMANAV N PATELBUY7,35,5236.65-
02-Jul-2012INDOWINDIndowind Energy LimitedMANAV N PATELSELL7,35,5236.58-
02-Jul-2012INDOWINDIndowind Energy LimitedPRASHANT MAHADEV OVHALBUY24,48,6205.87-
02-Jul-2012INDOWINDIndowind Energy LimitedPRASHANT MAHADEV OVHALSELL21,39,0705.65-
02-Jul-2012INDOWINDIndowind Energy LimitedSYNDICATE NIRMAN PVT.LTD.BUY5,27,6966.04-
02-Jul-2012INDOWINDIndowind Energy LimitedSYNDICATE NIRMAN PVT.LTD.SELL5,10,6965.76-
02-Jul-2012ONMOBILEOnMobile Global LimitedBIRLA GLOBAL FINANCE COMPANY LIMITEDSELL13,79,60029.42-
02-Jul-2012ONMOBILEOnMobile Global LimitedCPR CAPITAL SERVICES LTD.BUY7,47,87430.78-
02-Jul-2012ONMOBILEOnMobile Global LimitedCPR CAPITAL SERVICES LTD.SELL8,09,37930.40-
02-Jul-2012ONMOBILEOnMobile Global LimitedGOLDMAN SACHS INVESTMENTS MAURITIUS I LTDBUY12,00,00029.59-
02-Jul-2012ONMOBILEOnMobile Global LimitedHDFC MUTUAL FUND A/C GROWTH FUNDBUY7,04,92029.62-
02-Jul-2012ONMOBILEOnMobile Global LimitedKOTAK MAHINDRA PRIME Ltd.SELL28,80,00030.24-
02-Jul-2012ONMOBILEOnMobile Global LimitedSMALLCAP WORLD FUND INCSELL7,60,29231.11-
02-Jul-2012SADBHAVSadbhav Engineering LimitBRIJ REAL ESTATE AND PROPERTY PVT LTDSELL7,80,000148.00-


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BSE, Bulk deals, 2/7/2012


Deal DateScrip CodeCompanyClient NameDeal Type *QuantityPrice **
2/7/2012532888Asian GranitoSANJAY BHUPENDRA SANGHVIB22500043.40
2/7/2012532888Asian GranitoAGL INFRASTUCTURE PRIVATE LIMITEDS22500043.40
2/7/2012531591Bampsl SecPARVEEN KUMARB16251001.08
2/7/2012531648Croitre IndsESQUIRE ENCLAVE PRIVATE LIMITEDB3960074.51
2/7/2012531648Croitre IndsRAKESH DUAB5220077.28
2/7/2012531648Croitre IndsYOGESH AGARWALS4350078.50
2/7/2012511682IFL PromotersBHAGWAN SAHAI SHARMAB900005.03
2/7/2012511682IFL PromotersADVANCE INDIA SHARES AND SECURITIES PRIVATE LIMITEDS752005.02
2/7/2012511682IFL PromotersNORTH INDIA SECURITIES PVT LTDS900015.03
2/7/2012514312Jaihind SynDARSHANA VIPUL VIKAMB2500015.70
2/7/2012511638Madhur CapitalSHALIN VINITBHAI PARIKHS5800011.04
2/7/2012531453Mohit Inds-$DIPESH NALINBHAI DAVEB7000048.50
2/7/2012531453Mohit Inds-$VINODKUMAR B TIBREWALAB7910048.34
2/7/2012530971Nimbus IndsRAJESH MOHANBHAI PATELS500008.85
2/7/2012532944Onmobile GlobalKOTAK MAHINDRA PRIME LIMITEDS60000029.65
2/7/2012505525Parichay InvestPARESH RAMJIBHAI CHAUHANS6010206.45
2/7/2012526823Rajeswari FoundBHAVESH SHANTILAL TRIVEDIB2800016.75
2/7/2012526823Rajeswari FoundPRANAV NARENDRA BHATTS2800016.75
2/7/2012526823Rajeswari FoundBHAVESH SHANTILAL TRIVEDIS2860415.90
2/7/2012531207Raymed LabsSHAILESH NATVARLAL GANDHIB3520026.61
2/7/2012531646RFL IntlSHAH VIPUL NIRANJANB282997.50
2/7/2012531646RFL IntlPRAGATI SHARES & STOCK SERVICES PRO.NARESH NAGINDAS SHAHS300007.50
2/7/2012512529Sequent ScientificMANKEKAR SHIVANAND SB543000107.00
2/7/2012512529Sequent ScientificOM KEDAR INVESTMENTSS543000107.00
2/7/2012511754Shalibhadra FinROMESH ANILBHAI SHAHS2970057.38
2/7/2012531695SHREYCHEMTOGADIYA HARESHBHAI MADHABHAIB5484861.20
2/7/2012531695SHREYCHEMARSENAL FINSTOCK SERVICES PRIVATE LIMITEDB4069160.52
2/7/2012531695SHREYCHEMKAMLESH DINESHBHAI VARMORAS3500062.00
2/7/2012531695SHREYCHEMPRAFULCHANDRA CHIMANLAL VORA HUFS3500062.00
2/7/2012531013Sun GraniteRAMESH CHANDRA MISHRAB2442005.41
2/7/2012531013Sun GraniteAJAY MULTI PROJECTS LIMITEDS1690005.41
2/7/2012531013Sun GraniteV R M SHARE BROKING PVT LTDS750005.41
2/7/2012531499Sybly Inds-$BAMPSL SECURITIES LTDB33600000.62
2/7/2012531499Sybly Inds-$PARVEEN KUMARS22750000.62
2/7/2012590111VAISHNAVIPARVATHANENI VENKATA SIVA GANGADHARA RAOB1388645.14
2/7/2012531874Venus Power VenturesDHANA ENERGY PRIVATE LIMITEDS10800024.16
* B - Buy, S - Sell
** = Weighted Average Trade Price / Trade Price



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