11 Nov Morning Market Updates:

11 Nov Morning Market Updates:
Stocks that are in news today:
Results Today: Apollo Tyres, Cipla, Bhushan Steel, HDIL, Lanco Infra, Ranbaxy, Shree Cements, Gujarat NRE Coke
DLF Q2FY11(YoY)
Revenues: Rs 2369.02 cr vs Rs 1750.94 cr
EBIDTA at 45.58% vs 55.57%
Interest cost: Rs 433.76 cr vs Rs 248.61 cr
Net Profit: Rs 418.38 cr vs Rs 439.74 cr
EPS at Rs 2.46 vs Rs 2.59
DLF says
Realisation from divestment of non core assets at Rs 413 crore
2.08 msf sales booked in the quarter
Decline in QoQ EBIDTA margins from 51% to 42%
EBIDTA drop is temporary
Expect annual EBIDTA to be in the 45-50% range.
Montek Singh Says
No need for capital control on portfolio inflows
Capital control on debt should not be relaxed
Foreign capital inflows are being monitored
Present levels of current A/c deficit can be financed
India looking at higher FDI inflows
Govt sources say
Mines GoM likely next week; to endorse MMDR Bill
Mines Ministry keen to introduce MMDR Bill in winter session
Some States Not Comfortable With Bidding Norms
BPCL Q2 (cr - crore, vs - versus)
Net sales at Rs 35,416.2 cr vs Rs 27,071 cr (YoY)
Net profit at Rs 2,142.2 cr vs loss of Rs 158.8 cr (YoY)
BPCL Q2 GRM at USD 3.19/bbl vs USD 3.53/bbl (YoY)
Nagarjuna Construction Q2
Net profit at Rs 46 cr Vs 43.9 cr
Net sales at Rs 1,198.6 cr vs Rs 1,066.6 cr
Britannia Q2
Net sales at Rs 1094.7 cr vs Rs 858 cr
Net profit at Rs 31.87 cr vs Rs 59 cr
OPM%: 5.08% vs 9.0%
Increase in raw materials offset margins
Hanung Toys Q2:
Net profit at Rs 30.3 cr Vs Rs 18.7 cr
Net sales Rs 275 cr Vs Rs 183 cr
OPM: 18.3% vs 17.2%
Great Offshore Q2
Net sales at Rs 199.2 cr Vs Rs 235.9 cr (QoQ)
Net profit at Rs 28.1 cr Vs Rs 26.7 cr (QoQ)
Other stocks and sectors that are in news today:
SEBI fines Gujarat NRE Coke promoters for insider trading – ET
Pfizer recalls drug made by an India partner, while another local partner get US FDA warning – ET
JP Associates looks to raise USD 500 million via stake in JP Power Ventures – ET
Bharti may repay USD 800 million loan to held lenders reduce losses – ET
Infosys seeks USD 500 million acquisition in Japan – DNA
F&O cues:
Total Futures Open Interest (OI) up by Rs 1829 crore
Total Options OI up by Rs 1899 crore
Stock Futures added 7.8 crore shares in OI
Stock Futures added 17.3 crore shares in last 3 days
Nifty Futures net add 7.48 lakh in OI
Nifty Futures premium unchanged at 33 points
Nifty Open Interest PCR was at 1.37 from 1.39
Nifty Puts added 6 lakh shares in Open Interest
Nifty Calls added 14.5 lakh shares in Open Interest
Highest OI outstanding at 6000 Put (73 lakh shares) and 6500 call (75.6 lakh shares)
Nifty November 6300 Put added 6.8 lakh shares in OI
Nifty November 6300 Call added 5.5 lakh shares in OI
Nifty November 6500 Call added 2.9 lakh shares in OI
Nifty November 6600 Call added 2.2 lakh shares in OI
Nifty December 6100 Put added 2 lakh shares in OI
FIIs in F&O
FIIs were net sellers to the tune of Rs 816 crore in Nifty futures; Nifty futures' OI was up 22,977 contracts
FIIs were net sellers of Rs 247 crore in Nifty options; Nifty options' OI was up 21,436 contracts
FIIs were net sellers of Rs 404 crore in Stock Futures; Stock futures' OI was up 13,447 contracts
Market cues:

G-20 meeting will start today
NSE F&O Open Interest was up by Rs 3,728 crore at Rs 1.64 lakh crore
Institutional action
FIIs were net sellers to the tune of Rs 32.5 crore and DIIs net sellers of Rs 143.7 crore in cash markets on Wednesday, as per provisional data available on NSE website. FIIs were net sellers of Rs 1,470 crore in F&O.
US Markets:
In the US markets, despite the dollar's longest streak of gains in months, stocks were able to recover from sizable losses. However the first real dose of data in several days did little to move the market.

The Dow Jones Industrial Average ended at 11,357.04, up 10.29 points or 0.09%. The Nasdaq Composite closed at 2,578.78, up 15.80 points or 0.62% and the S&P 500 Index rose 5.31 points or 0.44% to 1,218.71.
Robin Griffiths, Chief Technical Strategist of Cazenove said, "In my terminology, the western markets particularly the US, Britain and Europe have been in a spectacular down trend from the year 2000. So we already had a missing decade. If we are not very careful, we will get a second missing decade just as indeed Japan has done. There are various factors to clock that in specifically US. The demographics are not as good as we would like them when they were near as good as Asia. And secondly the debt market is so enormous roughly USD 200 trillion plus the US has a structural requirement ready to devalue it currency."

In economic data, some positive sign for jobs growth, the initial claims for unemployment fell by 24,000 to 435,000 from a revised 459,000 for the week ended November 6. The four week moving average fell to 446,000, the lowest since September 2008.
European markets plummeted from the two-year highs it hit a day earlier as concerns about eurozone debt problems resurfaced; CAC was down 1.45%, DAX down 1% and FTSE down 1%.
Tim Freeman of Capstone Capital Markets said, "Let's not forget that we still have a tremendous amount of sovereign risk out there. We are getting a lot of reverberations that Ireland is in real trouble. Let's not forget that the dollar is still a reserve currency of the world. I don't think that's going to change in the next 6 months so the more that we see sovereign issues come back to the forefront on a global basis we will see an update for the dollar I would expect."
The dollar takes a breather in Asia trade after four straight sessions of gains as European debt troubles came into limelight. Dollar ended up 0.3%.
Crude meanwhile rallied to a 25-month high, its seventh rise in eight sessions, as US government data showed an unexpected heavy drawdown in crude inventories last week. December crude oil contract ended up 1.3% at USD 87.81/barrel, highest settlement of the year.