14 Feb 2011 Morning Market Updates 08:38
Market will open positive as Asian Markets are trading positively. SGX Nifty was up by 40 points. Nifty resistance is at 5355-5365.
Results today: Coal India, JP Hydro Power, Reliance Communications, Reliance Infrastructure, Reliance Power, Reliance Media, Mahindra Satyam, Simplex Infra, Tata Power, Unitech, Natco Pharma, Parsvnath Developers, Reliance Broadcast, Sakthi Sugars, Sahara one
Zee Entertainment
-Okays share buyback at up to Rs 126/share (CMP Rs 113.55) –11% Premium to CMP
-To buy back shares worth up to Rs 700 crore
SBI hikes base rate by 25 bps to 8.25% effective February 14
-SBI hikes BPLR by 25 bps to 13% effective February 14
-SBI keeps rates unchanged for tenures up to 1 year
-SBI hikes deposit rates for 555, 1000-day tenures by 25 bps
Shahid Balwa says: ADAG helped him set up business to seek 2G licenses
Alert: Balwa's letter to CBI mentions ADAG officers on firm's board
CBI Sources -
-Probing links of ADAG officials & Swan entities
-Have questioned founder directors of Swan entities
-Questioned directors/executives of Swan prior to DB Realty deal
-Questioned directors/executives responsible post Swan-DB deal
-Ashish Karyekar, Paresh Rathod 1st directors of 3 entities
-Entities are Swan Infonet, Swan Advisory & Tiger Trustees
-Karyekar & Rathod Employees of Reliance ADAG
-Swan Capital 1st directors: Dinesh Modi & Paresh Rathod
-Swan Tele Directors Anand Bhatt, Ashok Wadhwa
Bhatt, Wadhwa directors w.e.f. 22 January, 2007
Anand Bhatt killed in 26/11 terror attack
CBI to file chargesheet in 2G Scam by March 31
-Multi-layer deals & frequent changes in Directors/ownership
-Several discrepancies in statements given by some executives
-Probe focused on lifting corporate veil of entities
-Shahid Balwa’s statement glosses over several issues
Other stocks and sectors that are in news today:
-Reliance Infrastructure board meet for buyback of shares
-Jaiprakash Power hydro board meet today to consider amalgamation of companies having synergy of business with that of the Company for enhancing the stakeholders' value.
-Kingfisher Airlines on F&O ban
-Listing of equity shares of Bil Energy Systems Limited pursuant to scheme of arrangement on February 15
-Jubilant Industries lists today
-Clutch Auto board approves restructuring, by way of hiving off / formation of another company i.e. containing business of new auto ancilliary / technologies project and the real estate project through a scheme of arrangement
-Shiv Vani allots debentures worth Rs 250 crore to ICICI Bank
-GE Shipping withdraws DRHP filing of Greatship (India) Limited due to market conditions
-Bajaj Corp board approves stock split 5:1
-NTPC may revive its plan to setup coal & gas based power projects in Nigeria (ET)
-Hefty Fine for insider trading looms large over RIL, RIL may have to shell Rs 1500 crore penalty - Reports
-India Equity Partners set to acquire a majority stake In Tata Group company Innovative foods for Rs 75 crore (ET)
-Reliance Industries subsidiary Reliance Infotel will pay only half the prevailing rental for towers taken on lease on account of increasing volume card (BS)
-Coal India eyeing acquisitions of coal assets of another company in West Virginia (BS)
-Hero Honda to form JV’s with parts makers to meet its immediate technology needs post the pact with Honda expires (FE)
-Allied Digital set to buy back its shares (FE)
-Tata Motors may set up Nano Production facility in Indonesia (Mint)
-SEBI probes 25 companies for foul play in the stock market crash (TOI)
Reliance Communications :
-Held only 9.9% in Swan Telecom in March 2007
-Preferential share cap of company in Swan Tele cannot be included
-ADAG fully compliant with DoT requirements
-ADAG has not made any gains from 2G license grant to Swan
-No benefit accrued by ADAG company or affiliate from spectrum grant
-Grant of dual tech in 2007 upheld by Delhi HC in 2008
-Grant of dual tech in 2007 upheld by TDSAT In 2009
-CBI investigations not specific to Reliance Comm executives
-Fully cooperating with authorities
-Our competitors, rivals putting up smokescreen
-Vested interests trying to subvert governance fabric
-Old 2G operators have caused staggering losses to exchequer
-Some companies have hijacked spectrum beyond 6.2 MHz
-2G spectrum hijacking has caused loss of over Rs 55,000 crore
-Hijacking of spectrum by old 2G telcos well documented
-Additional spectrum granted without auctioning
-CBI continuing examination of certain employees
-CBI also examining other telecom operators
-Hari Narayan of ADAG was company secy of Swan for sometime
-Fully co-operating with CBI inquiries
-Malicious information being sent by Reliance Communications competitors
-Seen brazen hijacking of spectrum during 2001-2010
-Some operators have illegally cornered spectrum with certain DoT
-Several old 2G operators had secured original 8 licenses
-These licensed were secured without any auction
-Original 8 licenses in Mumbai, Delhi, Calcutta, Chennai
-Facts have been extensively documented
-Look forward to the completion of investigation by the CBI
Satyam case:
-Disciplinary hearing scheduled for February-end
-Disciplinary hearings to take place in Hyderabad
-Proceedings being conducted against 6 auditors
-6 auditors include 2 former PW partners & 4 Satyam employees
-Earnest request to introduce GST Constitutional Amendment'
-Have missed timelines twice'
-Request states to move expeditiously for GST Bill
-Proposed veto power of the centre has been withdrawn
-States want more changes to constitutional amendment Bill
-constitutional Amendment Bill's 3rd draft sent on January 28, 2011
-GST council, dispute settlement authority simplified
-Willing for further changes or even go back to earlier drafts
-GST historic task, will change fiscal landscape
-"Have moved in the right direction so far'
-Keen to table GST amendment bill in budget session
-CST rate to be cut to 0% at introduction of GST
-CST to be phased out altogether
2G -
-2G probe focus on mobile firm & healthcare group
-Health care group with strong base in South India
-Focus on grant of 2G licenses to firm post 2004
-Licenses granted prior to A Raja tenure in DoT
-Chennai-based firm sold equity to South-East Asian giant
-Execs of Chennai firm to face questioning
-Powerful DMK family links with mobile firm
-Family has widespread business interests across India
DIPP proposes:
-Tax break for investing cap gains of ancestral property
-Tax break only for investments made in SME units
-Tax breaks for dedicated MF, equity schemes for SMEs
-Easier IRDA norms for insurance companies investment in SMEs
-Tax pass through status for VCs focused on SMEs
-Allow national manufacturing zone SPVs to raise ECBs
-20% viability gap funding for NMIZ development
-Allow banks to raise long-term NMIZ infra bonds
-Exempt capital from infra bonds from SLR, CRR norms
- NMIZ: National Manufacturing & Investment Zones
F&O cues:
Total Nifty futures up Rs 1629 crore, Options up Rs 1078 crore
Stock futures net add 1.8 cr shares in Open Int
Nifty Fut Open Int add 7.2 lakh shares in Open Int; Nifty futures premium at 8 pts versus 4 pts prem
Nifty Open Int PCR up at 1.03 Vs 1
Nifty Put add 18 lakh shares, Call add 3.2 lakh shares in Open Int
Highest Open Int outstanding at 5100 Put, 5200 Put (from 5400 call), 5400 call
Nifty 5200 Call adds 13.5 lakh shares (46%) in Open Int; prem down up from 100 to 150
Nifty 5300 Put add 4.5 lakh shares (9%) in Open Int, prem down from 120 to 72
Nifty 5100 Put add 4.5 lakh shares (6%) in Open Int, prem down from 42 to 18
Nifty 5000 Put add 4.2 lakh shares (10%) in Open Int, prem down from 21 to 10
Nifty 5300 Call shed 6.2 lakh shares (10%) in Open Int
Nifty 5400 Call shed 5.5 lakh shares (8%) in Open Int
Nifty 5600 Call shed 3.3 lakh shares (6%) in Open Int
Nifty 5500 Put shed 3 lakh shares (9%) in Open Int
FIIs in F&O on Feb 11
FIIs net buy Rs 1230 crore in Index Futures; Open Int up by 17671 contracts
FIIs net buy Rs 255 crore in Index Options; Open Int up by 28844 contracts
FIIs net buy Rs 82 crore in Stock Futures; Open Int up by 7402 contracts
Market will open positive as Asian Markets are trading positively. SGX Nifty was up by 40 points. Nifty resistance is at 5355-5365.
Results today: Coal India, JP Hydro Power, Reliance Communications, Reliance Infrastructure, Reliance Power, Reliance Media, Mahindra Satyam, Simplex Infra, Tata Power, Unitech, Natco Pharma, Parsvnath Developers, Reliance Broadcast, Sakthi Sugars, Sahara one
Zee Entertainment
-Okays share buyback at up to Rs 126/share (CMP Rs 113.55) –11% Premium to CMP
-To buy back shares worth up to Rs 700 crore
SBI hikes base rate by 25 bps to 8.25% effective February 14
-SBI hikes BPLR by 25 bps to 13% effective February 14
-SBI keeps rates unchanged for tenures up to 1 year
-SBI hikes deposit rates for 555, 1000-day tenures by 25 bps
Shahid Balwa says: ADAG helped him set up business to seek 2G licenses
Alert: Balwa's letter to CBI mentions ADAG officers on firm's board
CBI Sources -
-Probing links of ADAG officials & Swan entities
-Have questioned founder directors of Swan entities
-Questioned directors/executives of Swan prior to DB Realty deal
-Questioned directors/executives responsible post Swan-DB deal
-Ashish Karyekar, Paresh Rathod 1st directors of 3 entities
-Entities are Swan Infonet, Swan Advisory & Tiger Trustees
-Karyekar & Rathod Employees of Reliance ADAG
-Swan Capital 1st directors: Dinesh Modi & Paresh Rathod
-Swan Tele Directors Anand Bhatt, Ashok Wadhwa
Bhatt, Wadhwa directors w.e.f. 22 January, 2007
Anand Bhatt killed in 26/11 terror attack
CBI to file chargesheet in 2G Scam by March 31
-Multi-layer deals & frequent changes in Directors/ownership
-Several discrepancies in statements given by some executives
-Probe focused on lifting corporate veil of entities
-Shahid Balwa’s statement glosses over several issues
Other stocks and sectors that are in news today:
-Reliance Infrastructure board meet for buyback of shares
-Jaiprakash Power hydro board meet today to consider amalgamation of companies having synergy of business with that of the Company for enhancing the stakeholders' value.
-Kingfisher Airlines on F&O ban
-Listing of equity shares of Bil Energy Systems Limited pursuant to scheme of arrangement on February 15
-Jubilant Industries lists today
-Clutch Auto board approves restructuring, by way of hiving off / formation of another company i.e. containing business of new auto ancilliary / technologies project and the real estate project through a scheme of arrangement
-Shiv Vani allots debentures worth Rs 250 crore to ICICI Bank
-GE Shipping withdraws DRHP filing of Greatship (India) Limited due to market conditions
-Bajaj Corp board approves stock split 5:1
-NTPC may revive its plan to setup coal & gas based power projects in Nigeria (ET)
-Hefty Fine for insider trading looms large over RIL, RIL may have to shell Rs 1500 crore penalty - Reports
-India Equity Partners set to acquire a majority stake In Tata Group company Innovative foods for Rs 75 crore (ET)
-Reliance Industries subsidiary Reliance Infotel will pay only half the prevailing rental for towers taken on lease on account of increasing volume card (BS)
-Coal India eyeing acquisitions of coal assets of another company in West Virginia (BS)
-Hero Honda to form JV’s with parts makers to meet its immediate technology needs post the pact with Honda expires (FE)
-Allied Digital set to buy back its shares (FE)
-Tata Motors may set up Nano Production facility in Indonesia (Mint)
-SEBI probes 25 companies for foul play in the stock market crash (TOI)
Reliance Communications :
-Held only 9.9% in Swan Telecom in March 2007
-Preferential share cap of company in Swan Tele cannot be included
-ADAG fully compliant with DoT requirements
-ADAG has not made any gains from 2G license grant to Swan
-No benefit accrued by ADAG company or affiliate from spectrum grant
-Grant of dual tech in 2007 upheld by Delhi HC in 2008
-Grant of dual tech in 2007 upheld by TDSAT In 2009
-CBI investigations not specific to Reliance Comm executives
-Fully cooperating with authorities
-Our competitors, rivals putting up smokescreen
-Vested interests trying to subvert governance fabric
-Old 2G operators have caused staggering losses to exchequer
-Some companies have hijacked spectrum beyond 6.2 MHz
-2G spectrum hijacking has caused loss of over Rs 55,000 crore
-Hijacking of spectrum by old 2G telcos well documented
-Additional spectrum granted without auctioning
-CBI continuing examination of certain employees
-CBI also examining other telecom operators
-Hari Narayan of ADAG was company secy of Swan for sometime
-Fully co-operating with CBI inquiries
-Malicious information being sent by Reliance Communications competitors
-Seen brazen hijacking of spectrum during 2001-2010
-Some operators have illegally cornered spectrum with certain DoT
-Several old 2G operators had secured original 8 licenses
-These licensed were secured without any auction
-Original 8 licenses in Mumbai, Delhi, Calcutta, Chennai
-Facts have been extensively documented
-Look forward to the completion of investigation by the CBI
Satyam case:
-Disciplinary hearing scheduled for February-end
-Disciplinary hearings to take place in Hyderabad
-Proceedings being conducted against 6 auditors
-6 auditors include 2 former PW partners & 4 Satyam employees
-Earnest request to introduce GST Constitutional Amendment'
-Have missed timelines twice'
-Request states to move expeditiously for GST Bill
-Proposed veto power of the centre has been withdrawn
-States want more changes to constitutional amendment Bill
-constitutional Amendment Bill's 3rd draft sent on January 28, 2011
-GST council, dispute settlement authority simplified
-Willing for further changes or even go back to earlier drafts
-GST historic task, will change fiscal landscape
-"Have moved in the right direction so far'
-Keen to table GST amendment bill in budget session
-CST rate to be cut to 0% at introduction of GST
-CST to be phased out altogether
2G -
-2G probe focus on mobile firm & healthcare group
-Health care group with strong base in South India
-Focus on grant of 2G licenses to firm post 2004
-Licenses granted prior to A Raja tenure in DoT
-Chennai-based firm sold equity to South-East Asian giant
-Execs of Chennai firm to face questioning
-Powerful DMK family links with mobile firm
-Family has widespread business interests across India
DIPP proposes:
-Tax break for investing cap gains of ancestral property
-Tax break only for investments made in SME units
-Tax breaks for dedicated MF, equity schemes for SMEs
-Easier IRDA norms for insurance companies investment in SMEs
-Tax pass through status for VCs focused on SMEs
-Allow national manufacturing zone SPVs to raise ECBs
-20% viability gap funding for NMIZ development
-Allow banks to raise long-term NMIZ infra bonds
-Exempt capital from infra bonds from SLR, CRR norms
- NMIZ: National Manufacturing & Investment Zones
F&O cues:
Total Nifty futures up Rs 1629 crore, Options up Rs 1078 crore
Stock futures net add 1.8 cr shares in Open Int
Nifty Fut Open Int add 7.2 lakh shares in Open Int; Nifty futures premium at 8 pts versus 4 pts prem
Nifty Open Int PCR up at 1.03 Vs 1
Nifty Put add 18 lakh shares, Call add 3.2 lakh shares in Open Int
Highest Open Int outstanding at 5100 Put, 5200 Put (from 5400 call), 5400 call
Nifty 5200 Call adds 13.5 lakh shares (46%) in Open Int; prem down up from 100 to 150
Nifty 5300 Put add 4.5 lakh shares (9%) in Open Int, prem down from 120 to 72
Nifty 5100 Put add 4.5 lakh shares (6%) in Open Int, prem down from 42 to 18
Nifty 5000 Put add 4.2 lakh shares (10%) in Open Int, prem down from 21 to 10
Nifty 5300 Call shed 6.2 lakh shares (10%) in Open Int
Nifty 5400 Call shed 5.5 lakh shares (8%) in Open Int
Nifty 5600 Call shed 3.3 lakh shares (6%) in Open Int
Nifty 5500 Put shed 3 lakh shares (9%) in Open Int
FIIs in F&O on Feb 11
FIIs net buy Rs 1230 crore in Index Futures; Open Int up by 17671 contracts
FIIs net buy Rs 255 crore in Index Options; Open Int up by 28844 contracts
FIIs net buy Rs 82 crore in Stock Futures; Open Int up by 7402 contracts
No comments:
Post a Comment