Real estate prices in Mumbai unlikely to fall: Oberoi in ET

Real estate prices in Mumbai are unlikely to fall due to limited supply, a leading real estate developer said today. "All input costs and raw material costs are going up and supply is constrained due to lack of approvals. Unless supply increases, the real estate prices in the city are unlikely to fall," chairman and managing director of Oberoi Realty, Vikas Oberoi told reporters here.

IPO: THEJO ENGINEERING: SME IPO in National Stock Exchange

THEJO ENGINEERING LIMITED – INITIAL PUBLIC OFFERING
Issue – Overview
Thejo is proposing to raise `21 crore through an Initial Public Offering and list its shares on EMERGE, the
SME platform of the National Stock Exchange. The price band per share of face value `10 is `402 to
`430.
CRISIL has assigned a CRISIL SME fundamental grade of ‘SME 5/5’ to the proposed IPO of Thejo
Engineering Ltd. This indicates that the fundamentals of the IPO are excellent as compared to other
SMEs in India.
Background of the Company
• Thejo is a light engineering Company based in Chennai providing Engineering Solutions for Bulk
Material Handling, Mineral Processing and Corrosion Protection to the Core Sector Industries like
mining, power, steel, cement, ports, fertilizers etc.
• The services offered by the Company include belt conveyor maintenance and operations, while its
product portfolio covers design, manufacture and supply of engineering products for Bulk Material
Handling, Mineral Processing and Corrosion Protection.
• In fiscal 2011, products and services contributed 55 % and 38% of its total income respectively. The
remaining 7% of income was contributed by trading activities.
• Currently, Thejo is one of the few companies in the sub continent offering manufacturing, marketing
and servicing activities under one roof.

Colgate result Views by Motilal Oswal

 Colgate result by Taher Badshah,Sr Fund Manager & Co-head equities, Motilal Oswal AMC-PMS

  

Colgate

Results has been inline with our expectation with 11% volume growth and gaining dominance in terms of market share at 54.5%, colgate has seen improvement in market share in tooth brush and mouthwash as well. Despite infaltionary pressures, margins have remained intact at 21.5%. We expect colgate to deliver strong results with higher market share going forward.

Sangam Advisors IPO opens tomorrow (24-Jul-12)

Issue Terms
Issue price / Floor Price (Rs)	22
Application per share (Rs)	22.00
Minimum investment amount (Rs)	132,000.00
Minimum bid (no of shares)	6000 shares and in multiple of 6000 thereafter
Maximum Shares for Retail	6000

views on L&T result by Taher Badshah,Sr Fund Manager & Co-head equities, Motilal Oswal AMC-PMS

L&T

Strong yoy sales growth of 26% yoy led by the core E&C segment, adjusted EBIDTA margins (after adjusting for MTM forex hit) is in line with expectations at 11.4 .Order inflow was very strong at Rs 195 bn which is a growth of 21% and order backlog is Rs 1531 bn. We believe it remains the best play in the infrastructure space in India.

FII & DII trading activity across NSE and BSE 23-07-2012

	Buy	Sell	Net
	Value	Value	Value
FII	1530.54	1421.37	109.17
DII	701.25	1055	-353.75

 

 

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IT spending in India to grow at 16.3% to $43.57 bn in 2012: IDC

IT spending in the country is expected to grow by 16.3 per cent to $43.57 billion (Rs 2.43 lakh crore) in 2012, on increased spending by SMEs and rising investment in emerging technologies, research firm IDC today said.

Petrol price to go up by 70 paise per litre from midnight

After two rounds of rate cuts last month, petrol price was on Monday hiked by 70 paise per litre on firming international oil rates. Petrol in Delhi will cost Rs 68.48 per litre with effect from midnight tonight as compared to Rs 67.78 a litre now, state-owned oil companies announced on Monday.

The marginal hike in rate follows reductions last month -- Rs 2.02 per litre on June 3 and Rs 2.46 a litre on June 29. The twin price cuts followed the massive Rs 7.54 per litre increase in rates, the biggest in the history, effected in May.

Monday's increase was "necessitated due to increasing international oil prices and movement in INR-dollar exchange rate," Indian Oil Corp, the nation's largest fuel retailer, said in a statement.

Average price of Indian basket of crude is $ 101.28 per barrel while international petrol price is $111.59 a barrel. The Rupee-dollar exchange rate is around Rs 55.36 to a dollar.

"At these levels, the oil companies are incurring losses of about Rs 1.41 per litre on petrol sales in the domestic market. However, as the price movement is quite volatile, it has been decided that an increase of Rs 0.70 per litre ..," it said.

In Mumbai, petrol price has raised by Rs 0.88 to Rs 74.24 per litre, while it will cost Rs 73.61 a litre in Kolkata from Tuesday compared to Rs 72.74 per litre currently. Chennai saw a hike of Rs 0.89 per litre in price to Rs 73.16 a litre.

BSE, Bulk deals, 23/7/2012

Deal Date	Scrip Code	Company	Client Name	Deal Type *	Quantity	Price **
23/7/2012	524412	Aarey Drugs	MUKESH BHOGIBHAI DARJI	B	83201	30.67
23/7/2012	524760	Arvind Intl-$	NARKAR PRASHANT TUKARAM	B	100000	14.75
23/7/2012	524760	Arvind Intl-$	NARKAR PRASHANT TUKARAM	S	100000	14.78
23/7/2012	524760	Arvind Intl-$	MANJARI CHIRAG KAMDAR	S	100000	14.75
23/7/2012	531591	Bampsl Sec	SANGEETA BANDIL	B	2000000	0.72
23/7/2012	531591	Bampsl Sec	GOPI NATH SHARMA	S	1915305	0.72
23/7/2012	509011	CHISEL	ASHOKKUMAR MOHANLAL RAWAL	S	14400	8.79
23/7/2012	533288	Claris Lifesciences	SIGNET HEALTHCARE PARTNERS QP PARTNERSHIP III LP	B	1405050	162.00
23/7/2012	533288	Claris Lifesciences	ADITYA SUSHILKUMAR HANDA	S	1733204	162.05
23/7/2012	531648	Croitre Inds	AJAY GOLECHA	S	50000	70.30
23/7/2012	531367	Dollex Inds	SHARDA MANOJ KASLIWAL	S	200000	4.03
23/7/2012	531367	Dollex Inds	MANOJ KASLIWAL	S	300000	4.06
23/7/2012	531820	Finalysis Cred	PANKAJ JAYANTILAL DAVE	B	44149	65.25
23/7/2012	531820	Finalysis Cred	VALLABHBHAI KAKADIYA	S	37549	65.25
23/7/2012	533333	Fineotex Chem	DIKSON TRADING & FINANCE COMPANY LIMITED	B	71337	29.00
23/7/2012	532726	Gallantt Metal	SAURABH MANAGEMENT PRIVATE LIMITED	B	614151	20.48
23/7/2012	532726	Gallantt Metal	SAURABH MANAGEMENT PRIVATE LIMITED	S	614000	20.48
23/7/2012	523844	Invicta Meditek	YAI ANGU	B	65000	36.90
23/7/2012	506041	Mahesh Agri	BINA ATUL CHAUHAN	B	5000	35.35
23/7/2012	506041	Mahesh Agri	NATVERLAL R PATEL	S	5000	35.35
23/7/2012	523704	Mastek	CROSSEAS CAPITAL SERVICES PRIVATE LIMITED	B	164387	126.77
23/7/2012	523704	Mastek	CROSSEAS CAPITAL SERVICES PRIVATE LIMITED	S	164387	126.90
23/7/2012	590074	Ortin Lab-$	ARJUN DHONDIBA PATIL	B	24790	19.74
23/7/2012	590074	Ortin Lab-$	DEVANG HEMENDRAKUMAR SHAH	B	25306	19.89
23/7/2012	590074	Ortin Lab-$	M/S JEM FISCAL LIMITED	S	25000	20.07
23/7/2012	590074	Ortin Lab-$	ARJUN DHONDIBA PATIL	S	24790	19.93
23/7/2012	505525	Parichay Invest	SHYAM CONSTRUCTION	B	62900	255.16
23/7/2012	505525	Parichay Invest	ASHLESH GUNVANTBHAI SHAH HUF	S	10635	255.47
23/7/2012	505525	Parichay Invest	JHAVERI SANJEEV BURMAN	S	31175	255.22
23/7/2012	505525	Parichay Invest	VIRENDRAKUMAR JAYANTILAL PATEL	S	8215	255.24
23/7/2012	505525	Parichay Invest	SANJAY JETHALAL SONI HUF	S	22950	255.05
23/7/2012	531769	PFL Infotech	NALLA RAMACHANDRA RAO	B	65000	23.54
23/7/2012	531769	PFL Infotech	MONO HERBICIDES LIMITED	S	62562	23.55
23/7/2012	531467	Polypro Fibrils	AJAY RAVINDRA SHAH	B	35001	12.78
23/7/2012	531467	Polypro Fibrils	JAYESH RAVINCHANDRA SHAH	B	25834	12.74
23/7/2012	531467	Polypro Fibrils	URVI PRAKASH SHAH	S	60000	12.77
23/7/2012	532826	Raj Television	ILANGOVAN RAJANI	S	66869	199.89
23/7/2012	532106	REI Agro	BNY MELLON INVESTMENT FUNDS NEWTON ASIAN INCOME FUND	B	49000000	10.44
23/7/2012	532106	REI Agro	BNY MELLON ASIAN EQUITY FUND	S	14000000	10.44
23/7/2012	532106	REI Agro	BNY MELLON INVESTMENT FUNDS NEWTON ORIENTAL FUND	S	35000000	10.44
23/7/2012	531781	Sapan Chem	JESNAR	S	66000	1.43
23/7/2012	530439	Siddha Ventures	HANSABEN HASMUKHBHAI AMIN	B	100000	1.15
23/7/2012	530439	Siddha Ventures	AMIN NAKUL HASMUKH	S	99500	1.15
23/7/2012	532669	Southern Onlin	DIKSON TRADING & FINANCE COMPANY LIMITED	B	1455587	4.53
23/7/2012	532669	Southern Onlin	SAMRIDHI SHARE AND STOCK BROKER LIMITED	S	200000	4.59
23/7/2012	532669	Southern Onlin	NEW MECH VYAPAAR PVT LTD	S	300000	4.49
23/7/2012	532669	Southern Onlin	ARPIT SHARE BROKERS PRIVATE LIMITED	S	960000	4.53
23/7/2012	526139	Transgene Bio	BLACKHORSEMEDIA ANDENTERTAINMENT PRIVATELIMITED	B	460385	11.48
23/7/2012	526139	Transgene Bio	SYNDICATE NIRMAN PRIVATE LIMITED	B	522350	11.50
23/7/2012	526139	Transgene Bio	SYNDICATE NIRMAN PRIVATE LIMITED	S	522350	11.22
23/7/2012	526139	Transgene Bio	BLACKHORSEMEDIA ANDENTERTAINMENT PRIVATELIMITED	S	426080	11.35
23/7/2012	526441	Vision Tech	SRINIVAS KARROTHI	S	200000	7.98
* B - Buy, S - Sell
** = Weighted Average Trade Price / Trade Price

NSE, Bulk deals, 23-Jul-2012

Date	Symbol	Security Name	Client Name	Buy / Sell	Quantity Traded	Trade Price / Wght. Avg. Price	Remarks
23-Jul-2012	LITL	Lanco Infratech Limited	SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED	BUY	127,82,872	14.21	-
23-Jul-2012	LITL	Lanco Infratech Limited	SUNTECK WEALTHMAX CAPITAL PRIVATE LIMITED	SELL	130,01,810	14.19	-
23-Jul-2012	MASTEK	Mastek Ltd	CROSSEAS CAPITAL SERVICES PVT. LTD.	BUY	1,64,387	126.85	-
23-Jul-2012	MASTEK	Mastek Ltd	CROSSEAS CAPITAL SERVICES PVT. LTD.	SELL	1,64,387	126.85	-
23-Jul-2012	MASTEK	Mastek Ltd	DINESH MUNJAL(HUF)	BUY	1,73,693	127.47	-
23-Jul-2012	MASTEK	Mastek Ltd	DINESH MUNJAL(HUF)	SELL	1,73,693	127.54	-
23-Jul-2012	NEXTMEDIA	Next Mediaworks Limited	CROSSEAS COMTRADE PRIVATE LIMITED	SELL	10,00,000	3.05	-
23-Jul-2012	NEXTMEDIA	Next Mediaworks Limited	RAJESH H BAHETI HUF	BUY	10,00,000	3.05	-
23-Jul-2012	RAJTV	Raj Television Network Li	ILANGOVAN RAJANI	BUY	66,869	199.90	-
23-Jul-2012	TEXMOPIPES	Texmo Pipe & Products Ltd	KBC ALDINI CAPITAL MAURITIUS LTD (DR)	SELL	2,00,000	11.68	-
23-Jul-2012	TEXMOPIPES	Texmo Pipe & Products Ltd	MANAV N PATEL	BUY	2,01,975	11.67	-
23-Jul-2012	TEXMOPIPES	Texmo Pipe & Products Ltd	MANAV N PATEL	SELL	2,01,975	11.67	-

FII DERIVATIVES STATISTICS FOR 23-Jul-2012

FII DERIVATIVES STATISTICS FOR 23-Jul-2012
	BUY		SELL		OPEN INTEREST AT THE END OF THE DAY
	No. of contracts	Amt in Crores	No. of contracts	Amt in Crores	No. of contracts	Amt in Crores
INDEX FUTURES	98862	2538.95	119461	3027.09	652220	16179.01	-488.14
INDEX OPTIONS	595880	15241.72	477687	12323.41	1824431	46689.78	2918.31
STOCK FUTURES	168816	4365.12	180565	4677.54	1053679	27390.90	-312.42
STOCK OPTIONS	47807	1404.01	48632	1422.08	73928	2006.54	-18.07
						Total	2099.68

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DB Corp: Print advertising cyclicality (from high base) hurts 1QFY13 : Kotak Sec, PDF link

DB Corp (DBCL)
Media
Print advertising cyclicality (from high base) hurts 1QFY13. DB Corp reported weak
1QFY13 financials with EBITDA at Rs850 mn (-15% yoy); the negative variance resulted
from weak national advertising (declined ~15% yoy) in (1) mature markets given high
base of 1QFY12 (~20% yoy growth then) and (2) dependence of print advertising on
cyclical sectors such as BFSI, durables and real estate (surprising in DBCL markets). BUY
but with reduced upside and 12-month forward FV of Rs260 (Rs290 previously) given
(1) advertising down-cycle is sharper-than-previously-envisaged and (2) expansions likely
to take more time to be completed and profitable.

Dr Reddy's Laboratories: Slow start to the year, recalibrating estimates : Kotak Sec, PDF link

Dr Reddy's Laboratories (DRRD)
Pharmaceuticals
Slow start to the year, recalibrating estimates. 1QFY13 PAT missed our estimate of
Rs4 bn by 17% due to (1) severe pricing erosion in the US, (2) lack of approvals for
limited competition products, (3) high SG&A costs and (4) lower sales realization due to
hedges. We lower our FY2013E total sales to US$2.2 bn, down US$120 mn, lower than
management guidance of US$2.5 bn. We expect base business EBITDA margin
expansion to be constrained by high SG&A cost, limited expansion in gross margin and
higher R&D spend. We lower our FY2013-14 PAT estimates by 10-14% due to lower
sales, lower base business margin and a higher tax rate. Maintain REDUCE with TP of
Rs1,740, 20X 12 month forward base business core earnings.

Telecom: Whose money is it anyway? : Kotak Sec, PDF link

Telecom
India
Whose money is it anyway? The telecom minister’s recent suggestion that the reserve
price for the upcoming spectrum auction would be based on a ‘revenue maximization’
motive is a sharp deviation from policy priorities stated in the draft NTP-2011 released
in Oct 2011. Draft NTP-2011 had clearly referred to ‘direct revenue generation’ as a
secondary policy objective. Amid all the objection to the TRAI-suggested reserve price in
the public domain, we keep hearing unconfirmed stories of operators (including
incumbents) preparing for bidding in the upcoming auctions at those very reserve price
levels. The outcome could be ‘customers losing some, shareholders a lot’ if the TRAIsuggested reserve prices end up becoming base spectrum price levels.

Hero Motocorp: In-line quarter : Kotak Sec, PDF link

Hero Motocorp (HMCL)
Automobiles
In-line quarter. Hero Motocorp’s results were operationally in line with our estimates,
but average selling prices were flat qoq despite a price increase taken during the
quarter indicating downtrading by customers. We expect EBITDA margins to remain
under pressure as volume growth stays sluggish. We maintain our SELL rating on the
stock due to expensive valuations and rising competitive pressure which limit ability of
the company to take pricing actions to offset rising input costs.

Consumer products: Can 'Rin Perfect Shine' of HUL create perfect storm for JYL? : Kotak Sec, PDF link

Consumer products
India
Can ‘Rin Perfect Shine’ of HUL create perfect storm for JYL? The recent launch of
Rin Perfect Shine (RPS) fabric whitener by HUL is likely a case of proactive targeting of
potential competition (Ujala of JYL which accounts for ~80% of its profits) as most of
JYL-Henkel brands compete head-on with HUL. RPS has a seemingly superior packaging
in a shrink-sleeve versus mould-based packaging of Ujala, in our view. The biggest
potential worry for JYL is product sampling by HUL, i.e. if RPS is bundled free with Rin
detergent powder, in our view. Higher adpro spends for JYL is likely

Strategy: Educomp Solutions refinances while Moser Baer seeks to restructure : Kotak Sec, PDF link

Strategy
India convertibles monthly
Educomp Solutions refinances while Moser Baer seeks to restructure. While
prominent companies (like JSW Steel and Tata Motors) paid up their FCCB obligations
without much ado, restructuring proposals (for Moser Baer) and extension of
redemption dates (for Suzlon and Gemini Communication) marred issuers at the other
end of the spectrum.