28 Jan 2010 Morning Updates

28 Jan 2010 Morning Updates :
Asian Markets :
Hang Seng : +344.13(20377.20)
Nikkei : +133.91(10385.99)
Today market is in correction mode.A recovery upto 4900 to 4950 levels is quite possible.Major heavy weights will bounceback smartly.Banking will decide the trend for the next few sessions.Nifty will resist at 4900 and then 4950 mark.Realty major DLF results also gave a reason to worry for the sector.Risky traders can bet on 4900 Jan calls while opening.
Stocks in News :
Results today:

Largecaps: BPCL, Cairn, Cipla, Tata Steel, NHPC, Bk of India, Jindal Steel and Power
Midcaps: Aban, Ansal Hsg, Apollo hospitals, Bharati Shipyard, Britannia, canara Bk, Central Bk of India, Crompton Greaves, Dena Bk, Dishman Pharma, GIC Hsg, GMR Infra, havells, IRB Infra, Jain Irrigation, Motherson Sumi, Marico, United phos, Srei Infra, Tata Tea, OBC, IOB, Opto ckts,
Others: 20 Microns, Allied Digital, Alstom Projects, Andhra cem, Astec Lifesciences, Avaya Global, BF utilities, Chennai Petro, Colgate, Crew BOS, Dalmia Cem, den Networks, DPSC, Dredging, Eclerx, Engineers India, Gemini Comm, Goa Carbon, Godawari Power & Ispat, Guj Sidhee Cem, Hanung Toys, Himadri chem. Hind Rectifiers, HOV Serv, IG petro, Ind Swift Labs, IVR Prime, Jai Corp, JB Chem, JSL. K K sera sera, Kesoram Ind, Koutons retail, KRBL, Madras Cem, MRF, Mudra Port, Nippo Batteries, NUchem, OCL Iron, Pidilite, Prakash Ind, Pritish Nandy comm, Provogue, Ramco Systems, Rel Media world, Renaissance Jew, Seamec, Shrenuj, Sical Log, Sundaram Fin, Federal Bk, J&K bk, Phoneix Mills, STC, Torrent Power, uttam galva Steels, UTV Soft, Zandu Pharma, Zicom, Lloyd electrical
IPO Updates:
Aqua Logistics (closes today; price band 220-230)
QIB – nil; NII at 0.104 times (X), Retail at 0.26X
Thangamayil Jewellery (closes tom; price band 70-75)
QIB at 0.2X, NII – nil; Retail at 0.118X
Syncom Healthcare(closes tom; price band 65-75)
QIB at 0.264X, NII at 1.058X, Retail at 0.537X
Vascon Engineers (closes tom; price band 165-185)
QIB at 0.349X, NII at 0.024X, Retail at 0.078X, employee at 0.097X
Power Grid :
Power Grid board gives in-principle okay for follow-on issue; to issue 10% stake via follow-on issue
Also gives approval of 'Immediate evacuation System” for Nabinagar TPS' (1000 MW) at an estimated cost of Rs 215.86 crore
DLF Q3:
Consolidated net profit at Rs 468 crore versus Rs 671 crore
Consolidated net sales at Rs 2,026 crore versus Rs 1,367 crore
Realised about Rs 170 crore in Q3 from sale of non-core assets
Revise target of Rs 5,500 crore from non-core asset sale in FY10
New target Rs 2,500 crore from non-core asset sale in FY10
Will realise Rs 1,250 crore from non-asset sale this fiscal
FY10 divestment at Rs 1,234 crore versus target of Rs 5,500 crore
Net gearing at around 0.50
DLF-DAL integration closure expected by Q4 end
Estimated consolidated rental income post integration approximately Rs 1,500 crore
More than 550 luxury/high-end apartments (2 msf) sold in NCR
Indian Hotel Q3:

Net sales at Rs 422.3 crore versus Rs 381.3 crore (YoY)
Net profit at Rs 64.9 crore versus Rs 83.9 crore (YoY
-Have undertaken restructuring of Sea Rock property; put Sea Rock assets into SPV
-To hold 20% stake in SPV, rest transferred to Tata Group Cos
-SPV raised money from market to pay IHCL Rs 750 crore
-Expect debt to decline to Rs 4,000 crore by March; to hold Rs 600 crore in cash by March 2010
-To repay USD 95 million debt for US Properties & USD 90 million to Samsara Property
Vedanta :
-Vedanta's Q3 profit soars, meets forecast
-EBITDA increased to USD 662.5 million from USD 10.1 million
Air India Q3
-Increase of 24.8% in passenger carriage
-14.4% rise in load factor
-Carried 3.17 million passengers versus 2.54 million passengers (YoY)
-Load factor at 55.3% versus 69.7 % (YoY)
Satluj Jal Vidyut Nigam -
-Satluj Jal Vidyut Nigam mandates 4 banks for IPO
-SJVN mandates JM Fin, SBI Cap, IDFC-SSKI, IDBI Cap For IPO
-SJVN IPO likely in March-end
Other stocks that are in news today:
-BHEL to sign a JV agreement with Madhya Pradesh Power Generating Co today to set up 2x800MW supercritical Thermal Power Plant
-Bharti to outsource USD 1 billion cable business – ET
-Bajaj Hind in NSE F&O ban
-SK Bangur group buys out Ramsinghanis stake in Rama Newsprint – BL (Buys out 16.84% stake( listed co West Coast Paper)
-Uttam Galva de-activated in the six-lakh series w.e.f. January 27th
-HUL board approves a proposal to merge its wholly-owned subsidiary Bon Ltd with itself with effect from April 1, 2010
-Shakti Met-Dor open offer at Rs 180/sh
-Genus Power withdraws demerger of power unit
-Gitanjali Gems has strategically acquired the balance 50% stake in the Indian JV Company Morellato India
-LIC buys 3.55 lakh more shares of ONGC; stake in co tops 5%: NW18
-ONGC joins hands with Angola's Sonangol to bid together for future acreages
-Maruti starts exporting Ritz to South East Asia
-No circuit filter in Shree Rang Mark Travels
Other results
NALCO Q3: Bottomline Below Street Estimates
Net profit at Rs 155 crore versus Rs 219 crore (YoY)
Net sales at Rs 1,386 crore versus Rs 1,016 crore
Other income at Rs 61.7 crore versus Rs 113 crore
HPCL Q3 :
-Sales down 5.9% at Rs 27661.9 crore versus Rs 29386.7 crore
-OPM at 2.47% versus 1.52%
-Net profit of Rs 31.4 crore versus net loss of Rs 422 crore
F&O cues:

Total Futures Open Int up by Rs 126 crore
Total Options Open Int up by Rs 5585 crore
Stock Futures Shed 5.2 crore Shares shares in Open Int
Nifty Calls add 97.3 lakh shares, Nifty Puts adds 14.7 lakh shares in Open Int
Nifty PCR at 0.9 versus 1.01
Nifty Futures add 60.7 lakh shares, Futures at a 5point discount
Nifty 4900 Call Adds 36 lakh shares in Open Int
Nifty 4800 Call Adds 15.8 lakh shares in Open Int
Nifty 5000 Call Adds 13 lakh shares in Open Int
Nifty 5000 Put Sheds 19.4 lakh shares in Open Int
FIIs in F&O on January 27
FIIs net sell Rs 1,014 crore in Nifty Futures
Nifty Futures Open Int up by 1,88,838 contracts
FIIs net buy Rs 56 crore in Nifty Options
Nifty Options Open Int up by 96,360 contracts
FIIs net buy Rs 170.5 crore in Stock Futures
Stock Futures Open Int down by 10,113 contracts
Market cues:

FIIs net sell USD 195 million on January 26
Record F&O Turnover at Rs 158503 crore
Total F&O Open Interest up by Rs 5711 crore at Rs 1,31,874 crore
FIIs net sell Rs 2212 crore in cash on Jauary 27 (Prov)
DIIs net buy Rs 1475 crore in cash on Jauary 27 (Prov)
FIIs net sell Rs 750 crore in F&O on Jauary 27 (Prov)
Indian ADR :
Indian ADRs ended mostly lower on Wednesday. In the banking space, HDFC Bank was down 4% at $ 118.79 and ICICI Bank was down 0.75% at $ 34.3. In the telecom space, Tata Communication was down 3.51% at $ 13.76 and MTNL was down 2.64% at $ 3.32. Also Read - How US markets closed

In the IT space, Satyam Computers was down 3.39% at $ 4.85, Wipro was down 3.03% at $ 20.83, Patni Computers was down 4.64% at $ 19.32 while Infosys was up 0.68% at $ 54.43.
In other sectors, Tata Motors was down 5.45% at $ 15.28 while Sterlite Industries was up 1.39% at $ 16.8 and Dr Reddy’s Labs was up 0.59% at $ 23.74
US Markets :
U.S. stocks turn higher as market digests Fed :
Financial stocks led a late rebound in the broader market Wednesday, helped by the Federal Reserve's decision to leave interest rates near zero and a turnaround in American International Group following a House hearing looking back at the insurer's bailout. The Fed vowed to keep rates near zero for a while in an effort to continue an economic recovery held back by high unemployment, although it did adopt a somewhat brighter tone from its December meeting.The Dow Jones Industrial Average was in the red for most of the session but ended with a 46-point gain, up 0.5%, at 10,240.47. Its strongest component was Boeing , up 7.3% after the aircraft and defense company swung to a fourth-quarter profit that was bigger than analysts had projected. Read the roundup on Boeing and General Dynamics. But Caterpillar shares slid 4.3%, hurt by the equipment maker's report of a sharp decline in fourth-quarter earnings and forecast 2010 earnings below analysts' estimates.
AIG was down early in the session but ended 2.1% higher after Treasury Secretary Tim Geithner offered his most detailed remarks yet on the decision to bailout AIG at the height of the financial crisis, when he was president of the New York Fed.
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