16 Dec 2009

16 Dec 2009   9:35

US mkts end lower on inflation concern; Dow down 49 pts :
The Dow was down 49.05 points, or 0.5%, to 10,452. The S&P 500 index was down 6.18 points, or 0.6%, to 1,107.93, and the Nasdaq Composite Index was down 11.05 points, or 0.5%, to 2,201.05.

In important macro data from the US, inflation at the wholesale level surged 1.8% in November, reflecting price jumps in energy and other products. The jump in inflation comes as the fed kicked off a two-day monetary-policy meeting.

Asian markets trading firm; Shanghai Composite, Nikkei up :
Asian markets were trading mix. China's Shanghai Composite was down by 3 points at 3,271.
Hong Kong's Hang Seng was down by 195 points at 21,618.
Japan's Nikkei was up by 58 points at 10,184.05.
Singapore's Straits Times was up by 3 points at 2,802.16.

SBI-IAG hand in hand ?


-SBI-IAG non life JV receives final nod from IRDA

-SBI-IAG likely to launch operations in March 2010

-IAG stands for Insurance Australia Group



Bhushan Steel:

-May tie up with Japanese company for India Steel Project: Sources

-May announce alliance with Japanese company on Wednesday


DB Corp IPO closes

Total: 39.54 times

QIB: 68.5 times

NII: 26.1 times

Retail: 3 times



DB Corp: Sources Say

-Fido, Goldman, India Cap and P Notes like Citi, BNP, Macquarie, ABN, JPM etc have bid for full book

-Domestic funds include Reliance MF, Pru ICICIMF, Pru ICICI Life, HDFC MF, Birla MF


Mobile service providers' subscriptions :

-Bharti Airtel adds 2.8 million users in November versus 2.7 million (MoM)

-Idea added 2.55 million mobile users in November versus 1.9 million (MoM)

-Vodafone adds 2.78 million mobile users in November versus 2.98 million (MoM)

-MTNL adds 73,019 GSM mobile users in November versus 65,730 (MoM)



Bajaj Hindusthan Q4

-Net profit at Rs 69 crore versus loss of Rs 87 crore

-Net sales at Rs 415 crore versus Rs 463 crore

-Decrease in inventory at Rs 268 crore versus Rs 339 crore

-Interest cost at Rs 26 crore versus Rs 59 crore ((QIP proceeds used for debt repayment))

Stocks that are in news today:

-Orchid Chemical to sell generic injectable finished dosage from pharma business to Hospira for $400 million

-DLF board approved integration between DLF Cyber City and Caraf Builders in 60:40 ratio

-Shree Cements advance tax at Rs 31 crore versus Rs 40.5 crore

-Bharati Shipyard says LIC sells 2.14% stake in company

-Kingfisher still in NSE F&O curb

-PSU Bank employees on 1-day strike today against consolidation

-Tata Steel update: Corus announces €35 million investment in French steel mill after securing rail contract

-FIIs can buy shares of Union Bank as FII investment falls below prescribed limit

-Kalindee Rail board meet on December 22 for issuance of convertible warrants to promoters

-Uttam Galva open offer opens on December 19, closes on January 7


The Bombay Stock Exchange (BSE) on Tuesday announced it was extending trading time by seven minutes. The BSE stock market would, from December 18 (Friday) onward, open at 9.45 am instead of 9.52 am.

The closing time would, however, remain the same at 3.30 pm, the BSE said.
The Securities and Exchange Board of India (SEBI) recently allowed stock exchanges in India to extend their trading hours and allowed a maximum possible window of trading between 9am and 5pm.

SBI pays Rs 1795 Cr Oct-Dec advance tax