13 May 2010 Morning Market Updates

13 May 2010 Morning Market Updates  08:45

Market will open on higher side as Global cues are positive.
Nifty will open above 5165 level.Immediate resistance for Nifty is at 5210 whereas support is at 5145.

Stocks in News :
Results Today - Crompton Greaves, Educomp Solutions, Gammon India, MTNL, Morepen Lab, Koutons Retail, Kewal Kiran, Tata Coffee, Amrutanjan Health

Kingfisher Airlines - Sources
-Kingfisher Airlines undertakes realignment & restructuring of debt
-SBI Caps given mandate to prepare restructuring package
-Total debt under restructuring spread across 15 banks
-SBI has Rs 1,100 crore exposure to KFA
-Wants to defer repayment of loans falling due this fiscal
-Looking at options like hiking tenure of capex loans
-Will go for GDR issue after realignment of debt
-SBI Caps expected to submit report in approximately 1 month
-Looking at realigning debt of Rs 1500 crore
-Not seeking any concessions from banks
HCC -
-HCC likely to demerge internal technology operations into separate IT arm
-IT arm likely to deal with ERP solutions for infrastructure sector
-Internal technology operations contribute to 2% of overall revenues
-Announcement likely today
Tilaknagar - VCCircle exclusive:
-Tilaknagar to buy Liquors India Distillery
-Tilaknagar may also tap market to raise Rs.100 crore
-Tilaknagar exploring PE/VC and MF route for fund raising
-VCCircle alert: Tilaknagar is makers of Mansion House Brandy
Other stocks and sectors that are in news today:
-Nitesh Estates lists today
-Mercator Lines : acquired a vessel for approximately Rs 175 crore ,Vessel to bring revenues of Rs 120 crore over next 3 years (( Acquired via Singaporesubsidiary ))
-Magma Finance: Approves allotment of 40.6 lakh shares to QIBs
-Elecon Engineering: bags an order worth Rs 208.5 crore
-GoodYear India delisting floor price at Rs 245/sh, offer opens on May 28 and closes on June 3
-Godrej to buy out Sara Lee for USD 234 million.

-Kotak in talks to acquire CitiFinancial.
-Reliance Power considering shifting to AP from Dadri following the SC ruling – (Anil Ambani meets PM to present case)
-Ranbaxy to sell stake in Ex-group cos, including its 14% stake in Orchid Chem
-SEBI challenges SAT order on takeover code.
Mahindra Forgings Q4: (cr - crore, vs - versus)
-Net loss at Rs 34 lakh vs Rs 20.7 cr (YoY)
-Net sales at Rs 83.5 cr vs Rs 59.9 cr (YoY)
Thermax Q4:
-Net loss at Rs 15.7 cr vs net profit of Rs 94.3 cr (YoY)
-Net sales at Rs 1,171 cr vs Rs 924 cr (YoY)
MRPL Q4:
-Net profit at Rs 253 cr vs Rs 608 cr (YoY)
-Net sales at Rs 8,700 cr vs Rs 6,535 cr (YoY)
Bajaj Holdings & Invst Q4:
-Cons net sales at Rs 69.7 cr vs Rs 37.1 cr (YoY)
-Cons net profit at Rs 384.2 cr vs Rs 86.2 cr (YoY)
Rohit Ferro Tech Q4
-Sales at Rs 207.66 cr vs Rs 166.29 cr
-PAT at Rs 14.24 cr vs loss of Rs 86 lakh

F&O cues:US Markets Updates :

- NSE F&O Open Interest was up by Rs 3516 crore at Rs 1.28 lakh crore.
- Nifty Futures Open Interest up by Rs 789 crore
- Nifty Options Open Interest up by Rs 2727 crore
- Nifty Futures added 8 lakh shares in Open Interest
- Nifty Futures ended at 6-point discount
- Nifty Open Interest PCR at 1.19 versus 1.13
- Nifty Puts added 42 lakh shares in Open Interest
- Nifty Calls added 9 lakh shares in Open Interest (OI)
- Nifty 5000 Put added 14 lakh shares in Open Interest
- Nifty 5100 Put added 6.5 lakh shares in Open Interest
- Nifty 5200 Call added 3.7 lakh shares in Open Interest

FIIs in F&O
- FIIs net buy Rs 505 crore in Nifty Futures
- Nifty Futures Open Interest up 37,022 contracts
- FIIs net buy Rs 724 crore in Nifty Options
- Nifty Options Open Interest up 45,222 contracts

US markets closed on higher side as Spain promised tough austerity measures. Technology stocks rallied after some encouraging reports from Intel and IBM. IBM said that it expects to earn at least USD 20 a share by 2015.



Intel too said that it expects to double its earnings growth in the next few years and raised its margin outlook.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, dropped 10% to around 25, after topping 40 last week.The dollar rose against the euro after recovering from early losses as worries about euro zone growth outweighed new Spanish spending cuts and a successful bond sale in Portugal.

The Dow Jones Industrial Average closed at 10,896.91, up 148.65 points or 1.38%. The tech-heavy Nasdaq Composite ended at 2,425.02, up 49.71 points or 2.09% and S&P 500 Index rose 15.88 points or 1.37% to 1,171.67.