FII DERIVATIVES STATISTICS FOR 30-Oct-2012

FII DERIVATIVES STATISTICS FOR 30-Oct-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	58421	1641.50	81450	2177.02	379422	9232.45	-535.52
INDEX OPTIONS	598516	16871.07	551495	15664.01	1599702	44775.88	1207.06
STOCK FUTURES	51755	1429.62	56262	1537.02	1049068	27532.31	-107.40
STOCK OPTIONS	68932	1906.27	69971	1942.93	51826	1425.47	-36.65
						Total	527.49

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FII trading activity on NSE and BSE 30-10-2012

Category		Buy	Sell	Net
		Value	Value	Value
FII		1448.83	1640.36	-191.53
DII		1265.79	1297.63	-31.84

 

 

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Angel Broking - Market Summary - 30.10.2012

Market Summary

Angel Broking - Derivatives Report - 30.10.2012

Derivatives Report

Angel Broking - Technical Report - 30.10.2012

Technical Report

Angel Broking -Market Outlook - 30.10.2012

Market Outlook

Kotak Sec: Top Pick - 30th October 2012 -L&T

Our analysts recommend L&T with a positive bias above 1650; Targets at 1738, Stop Loss below 1645

Brief on L&T

• L&T came out with numbers that were largely in-line with expectations on the revenue and profit front. EBITDA margins surprised us positively.
• Order intake was robust which was expected as order announcements were strong during the quarter.
• The strong growth in order intake gives us greater comfort to raise our target price. We now value the stock at Rs 1738 (Rs 1435 earlier). Target price revision is based on improved optimism on revenue and margin front in the medium term.

Value exploration in oil and gas stocks :: Business Line

Though the sector has been weighed down by negatives, there has been some flaring of hope. A look at what ailed the sector and the prospects ahead.

In the last one year, the Indian oil and gas sector was in the news mostly for the wrong reasons. Gas output from the KG-D6 fields of Reliance Industries plummeted, the downstream regulator (PNGRB) slashed tariffs of Indraprastha Gas, Essar Oil suffered a major legal setback, and the public sector oil marketing companies reeled under mounting under-recoveries.

But there were also positive developments. Vedanta finally acquired Cairn India, companies such as HPCL and Essar Oil expanded their refining capacities, the government raised diesel price and cut LPG subsidy, and BPCL struck it big in Mozambique.

But the negatives outweighed the positives, and the BSE Oil and Gas Index is down 8.5 per cent over the past year compared with the 4.6 per cent rise in the Sensex. What ailed the sector stocks, what benefited them and what lies ahead?

LKP BYTES : Hindustan Tin Works (Buy@Rs.46, Target Rs.100)

The story so far ………..

Hindustan Tin Works-HTW is one of India's leading player in the metal packaging segment with a dominant market share of more than 20% in Tin Can manufacturing.

Tin Cans being fully recyclable and environment friendly offers the highest barrier properties for packing a host of food products besides non food products like paints, insecticides, room freshners and deodorants among others.

HTW by virtue of being an early entrant in this segment enjoys brand equity with marquee customers like Nestle, Britannia, Delmonte, Asian Paints and Reebok among others. It has successfully leveraged its dominant position in the food processing industry despite preferences for Tetra Packs as its products facilitate storage without cold chain refrigeration throughout the supply chain.

The story ahead ………..

The Rs2.5bn HTW exports close to 17% of its revenues and this acts as a natural hedge for its imports which is close to 22%. Tinplate trading revenues accounts for about 25% of its sales and this restricts margin expansion at HTW. However we believe that the cost rationalisation initiatives taken by the company should improve its margin profile from the current fiscal.

HTW has a JV-Rexam HTW Beverage Can (with the UK based Rexam who are world leaders in two piece beverage cans). This JV has recently commenced production in Taloja at a cost of Rs2bn. HTW has only a 2% share in this JV and its capital commitment is only Rs4crs.

We expect HTW to grow its earnings at a CAGR of 40% over FY'12-14 and the stock trading at half book value at 0.2x market capitalisation to revenues offers value.

Buy HTW trading at 6xFY'13E and 4xFY'14E earnings with a one-year price target of Rs100.

Thanks and Regards

LKP Advisory

Punjab National Bank- Q2FY13 Result :Microsec

Punjab National Bank Ltd has announced its Q2FY13 result on 26^th October 2012.

The bank’s total income decreased by 6.30% QoQ and increased by 4.91% YoY to INR4554.75 crores. Whereas, Profit After Tax (PAT) decreased by 14.46% QoQ and 11.57% YoY to INR1065.58 crores.  

During the quarter,. Bank's loans book and total deposits expanded by 18.36% and 17.25% YoY to INR294746.52 and INR400747.49 crores respectively. On the asset quality front, bank’s asset quality is still the matter of concern. GNPA and NNPA increased by 132 and 101bps QoQ and 261 and 185bps YoY to 4.66% and 2.69% respectively. Moreover, Net Interest Margin (NIM) decreased by 10bps QoQ and 45bps YoY to 3.50%. Bank’s Provision  Coverage Ratio (PCR) is also at unsatisfactory level, stood at 54.31%. However, Capital Adequacy Ratio (CAR) stood at 11.73%, which is 2.73% higher than the regulator stipulated norm.  

Q2’13 (INR Crores)	Consensus	Actual	Variance %
Total Income	4816.9	4554.75	-5.44%
Operating Profit	2751.9	2532.86	-7.96%
PAT	1245.9	1065.58	-14.47%

Punjab National Bank Ltd Quarterly-[INR-Crores]
DESCRIPTION	Q2'13	Q1'13	Q2'12	QoQ%	YoY%
Interest Earned	10421.11	10544.97	8952.01	-1.17	16.41
Interest Expended	6771.74	6849.83	5499.44	-1.14	23.14
NII	3649.37	3695.14	3452.57	-1.24	5.70
Other Income	905.38	1166.00	888.86	-22.35	1.86
Total Income	4554.75	4861.14	4341.43	-6.30	4.91
Operating Expenses	2021.89	2020.25	1813.70	0.08	11.48
Operating Profit before Prov.& Cont.	2532.86	2840.89	2527.73	-10.84	0.20
Provisions and Contingencies	1073.83	1032.49	710.32	4.00	51.18
PBT	1459.03	1808.40	1817.41	-19.32	-19.72
Tax	393.45	562.73	612.42	-30.08	-35.75
Profit After Tax	1065.58	1245.67	1204.99	-14.46	-11.57
Basic & Diluted EPS	31.42	36.73	35.52	-14.46	-11.54
Advances	294746.52	294467.89	249019.56	0.09	18.36
Deposits	400747.49	385354.73	341783.18	3.99	17.25
	Q2'13	Q1'13	Q2'12	QoQ (bps)	YoY(bps)
Capital Adequacy Ratio Basel II	11.73%	12.57%	12.23%	-84	-50
% of Net NPAs	2.69%	1.68%	0.84%	101	185
% of Gross NPAs	4.66%	3.34%	2.05%	132	261
CASA%	37.00%	35.60%	37.10%	140	-10
NIM %	3.50%	3.60%	3.95%	-10	-45
Provisions Coverage%	54.31%	62.81%	75.08%	-850	-2077
C/D ratio	73.55%	76.41%	72.86%	-287	69
C/I Ratio	44.39%	41.56%	41.78%	283	261
OI/TI	55.61%	58.44%	58.22%	-283	-261

Regards,

Team Microsec Research