4 Feb 2011 Morning Market Updates 08:59
Market will open flat as SGX Nifty is down by 6 points.
Results Today: Suzlon, Cipla, Balrampur Chini, Future Capital, Hindustan Copper, JK Sugar, Oracle Finance, Titagarh Wagons.
Stocks in News :
-Had suggested Cairn, ONGC, Oil Ministry sit across table together
-ONGC nod is required for Cairn Vedanta deal to go through
-Contentious issues like cess, royalty should be resolved first
-Only issue is interpretation of production sharing contract
-Unfortunately Cairn ,ONGC Haven't Met To Resolve Issues
-Pre-marketing road shows for FPO on
-ONGC FPO on track; will hit markets on March 15
Vedanta-Cairn deal:
-Vedanta may terminate its USD 9.6 billion deal with Cairn if Cairn India agrees with the govt and makes changes in the royalty clause (ET)
-Vedanta, Cairn mull extending April 15 deal deadline
-Vedanta, Cairn anticipated all approvals by February 15
-Vedanta, Cairn finalising 'fallback plan' if nod delayed
-Companies fear SEBI nod for open offer may take time
-If deadline extended, fresh board & shareholder nod needed
-SEBI said its decision only once govt nod in place
-Bill Gammell, Anil Agarwal to meet oil secretary on February 6
PFC FPO:
-Power Ministry to float cabinet note on PFC divestment next week
-PFC FPO aims to pick up Rs 7000 crore
-PFC divestment 5%, fresh equity 15%
-PFC FPO likely in Q1FY12
SAIL
-Decision on FPO merchant bankers early next week
-See 'tapering' of coking coal prices in short term
-To launch FPO by March-end
RIL
-Plan 5-week maintenance shutdown of Jamnagar unit
-Jamnagar Refinery unit to be shut from February 7
NTPC
-Delhi HC stay to continue on NTPC boiler tender
-Delhi HC to now hear NTPC bulk boiler tender on February 10
=NTPC will not open price bids for the Rs 11,000 crore bulk equipment supply tender (ET)
=NTPC has floated bids for 800- Mw bulk supercritical units for Rs 19000 crore (BS)
Ex dividend:
-HCL lnfo – Rs 2/sh
-NTPC – Rs 3/sh
-Shree Cements – Rs 6/sh
-ACC- Ambuja Cement merger likely in the next 6-8 months (DNA).
-Reliance Power’s Sasan project gets a go ahead for its carbon credit valued at over Rs 2,000 crore (HT).
-CBI lawyer says Swan, Unitech given preference during telecom licence allocation.
-Andhra Bank hikes base rate by 50 bps to 9.5% effective Saturday.
-APL Apollo increases the price of its products by 8-9% in wake of higher input cost.
-Bajaj Hindustan has made repayment of an aggregate amount of US$ 133.006 million, including the redemption premium of USD 33.434 million (outstanding was USD 99.57m)
-Lens on Rs 214 crore loan from DB Realty to TV channel Kalaignar majority of which is owned by family members of DMK party chief M karunanidhi (ET)
-Arvind set to ink deal with French women’s brand Elle for clothing and fashion accessories (ET)
-Aegis scouts for more acquisitions in Africa and Europe to expand its global footprint but shall stay from Indian cos (ET)
-Whirlpool set to invest Rs 125 crore on new product development, marketing and enhancing infrastructure the next fiscal (ET)
-Karuturi Global acquired 58% stake in Florista India through a share swap deal (BS).
-Camlin inks pact with Japanese based Zebra pen & pencils manufacturer Zebra co Ltd (BS).
-Jet Airways to repay around Rs 1,000 cr of debt each fiscal & also looking to prepay some of its high cost rupee debt (Mint).
-Nalco may invest around Rs 700 crore for picking up stake in Hindustan Copper Ltd (Mint).
-Coal India aims to include Indian Railways as a stakeholder in the project to ensure smooth delivery of imported coal to the power stations (BL).
-L&T Infra to raise Rs 400 crore through bonds which will open on February 7 (BL)
-SAIL bids for Mongolian coalfield with reserves of over 6 billion tonnes of coking & thermal coal may setup a plant (HT).-Housing project proposals witness 50% drop in the city on account of lukewarm response to the real estate market (DNA)
-Shyam Star Gems Ltd has made an open offer to acquire 13.9 lakh shares at a price of Rs 18/sh (FE).
-Indian companies eye USD 4 billion generic opportunity as blockbuster drugs losing patent protection in the USA over 2011-2012 (TOI)
F&O cues:
Total Nifty futures up Rs 1447 crore, Options up Rs 1337 cro
Stock futures net add 3 crore shares in Open Int
Nifty Fut OI shed 1.7 lakh shares in Open Int; Nifty futures prem at 13 pts Vs 10 pts
Nifty OI PCR up at 1.25 versus 1.15
Nifty Put add 35.2 lakh shares, Call shed 15.6 lakh shares in OI
Highest OI outstanding at 5400 Put, 5500 Put, 5700 call
Nifty 5500 Put adds 12.6 lakh shares (24%) in OI; prem down from 144 to 86
Nifty 5400 Put add 11.2 lakh shares (14%) in OI, prem down from 98 to 55
Nifty 5300 Put add 7 lakh shares (17%) in OI, prem down from 65 to 33
Nifty 5700 Call add 1.8 lakh shares (3%) in OI, prem up from 19 to 37
Nifty 5500 Call shed 14.3 lakh shares (23%) in OI
Nifty 5100 Put shed 3.5 lakh shares (11%) in OI
Nifty 5400 Call shed 3 lakh shares (13%) in OI
FIIs in F&O on Feb 03
FIIs net sell Rs 421 crore in Index Futures; Open Int up by 42283 contracts
FIIs net buy Rs 3.7 crore in Index Options; Open Int up by 6050 contracts
FIIs net buy Rs 115 crore in Index Options; Open Int up by 11122 contracts
US Markets :
U.S. stocks advanced modestly as encouraging readings on retail sales outweighed worries over Egypt one session before Friday's closely watched unemployment data.
The Dow Jones Industrial Average staged its fourth straight gain as it rose 20.29 points, or 0.17%, to close at 12062.2, the highest close since the middle of June 2008. The gains were kept in check by Merck, which led decliners as it fell 92 cents, or 2.7%, to 32.90 after swinging to a fourth-quarter loss. Earnings and revenue topped Wall Street's expectations, but the drug maker's forecast for full-year adjusted earnings fell below analysts' predictions.
The Nasdaq Composite edged up 4.32, or 0.16%, to 2753.88 for its seventh gain in nine sessions. The Standard & Poor's 500-stock index added 3.07, or 0.24%, to close at 1307.1, with consumer discretionary stocks leading the advance.
•Initial claims for unemployment benefits dropped below expectations tumbling 42,000 to settle at a seasonally adjusted 415,000.
•Productivity rose 3.6% after a 3.5% gain last year. Labour costs dropped 1.5% last year after a 1.6% decline in 2009, as reported by the labour department.
•The services sector grew at its fastest pace in January since August 2005.
•The ISM index of national non-manufacturing activity for January rose to 59.4 from 57.1.
•Total factory orders rose 0.2% to a seasonally adjusted USD 426.8 billion along with stronger shipments of finished products.
And in the day's economic data to watch out for:
•The all important nonfarm payroll employment is expected to gain a modest 150,000 from the previous 103,000.
•The unemployment rate is expected to rise to 9.5% from 9.4%.
The European markets snapped their three day rally yesterday after being weighed down by weak corporate results, though strong US economic data helped pare losses by the close. Meanwhile the Asian markets are shut, all except Nikkei which is trading in the green.
The euro fell 1.5% trading around the 1.36 dollar mark on ECB's decision to keep interest rates low on the back of balanced inflation. On the back of this, the dollar made its biggest bounce in almost one month by gaining 0.9% against a basket of competing currencies.
Crude traded slightly lower, below the USD 91 per barrel mark as a stronger dollar helped erase Middle Eastern oil shipment concerns. Brent crude, meanwhile, continued to rise for a 5th consecutive day to a 28-month high of USD 103 per barrel.
Market will open flat as SGX Nifty is down by 6 points.
Results Today: Suzlon, Cipla, Balrampur Chini, Future Capital, Hindustan Copper, JK Sugar, Oracle Finance, Titagarh Wagons.
Stocks in News :
-Had suggested Cairn, ONGC, Oil Ministry sit across table together
-ONGC nod is required for Cairn Vedanta deal to go through
-Contentious issues like cess, royalty should be resolved first
-Only issue is interpretation of production sharing contract
-Unfortunately Cairn ,ONGC Haven't Met To Resolve Issues
-Pre-marketing road shows for FPO on
-ONGC FPO on track; will hit markets on March 15
Vedanta-Cairn deal:
-Vedanta may terminate its USD 9.6 billion deal with Cairn if Cairn India agrees with the govt and makes changes in the royalty clause (ET)
-Vedanta, Cairn mull extending April 15 deal deadline
-Vedanta, Cairn anticipated all approvals by February 15
-Vedanta, Cairn finalising 'fallback plan' if nod delayed
-Companies fear SEBI nod for open offer may take time
-If deadline extended, fresh board & shareholder nod needed
-SEBI said its decision only once govt nod in place
-Bill Gammell, Anil Agarwal to meet oil secretary on February 6
PFC FPO:
-Power Ministry to float cabinet note on PFC divestment next week
-PFC FPO aims to pick up Rs 7000 crore
-PFC divestment 5%, fresh equity 15%
-PFC FPO likely in Q1FY12
SAIL
-Decision on FPO merchant bankers early next week
-See 'tapering' of coking coal prices in short term
-To launch FPO by March-end
RIL
-Plan 5-week maintenance shutdown of Jamnagar unit
-Jamnagar Refinery unit to be shut from February 7
NTPC
-Delhi HC stay to continue on NTPC boiler tender
-Delhi HC to now hear NTPC bulk boiler tender on February 10
=NTPC will not open price bids for the Rs 11,000 crore bulk equipment supply tender (ET)
=NTPC has floated bids for 800- Mw bulk supercritical units for Rs 19000 crore (BS)
Ex dividend:
-HCL lnfo – Rs 2/sh
-NTPC – Rs 3/sh
-Shree Cements – Rs 6/sh
-ACC- Ambuja Cement merger likely in the next 6-8 months (DNA).
-Reliance Power’s Sasan project gets a go ahead for its carbon credit valued at over Rs 2,000 crore (HT).
-CBI lawyer says Swan, Unitech given preference during telecom licence allocation.
-Andhra Bank hikes base rate by 50 bps to 9.5% effective Saturday.
-APL Apollo increases the price of its products by 8-9% in wake of higher input cost.
-Bajaj Hindustan has made repayment of an aggregate amount of US$ 133.006 million, including the redemption premium of USD 33.434 million (outstanding was USD 99.57m)
-Lens on Rs 214 crore loan from DB Realty to TV channel Kalaignar majority of which is owned by family members of DMK party chief M karunanidhi (ET)
-Arvind set to ink deal with French women’s brand Elle for clothing and fashion accessories (ET)
-Aegis scouts for more acquisitions in Africa and Europe to expand its global footprint but shall stay from Indian cos (ET)
-Whirlpool set to invest Rs 125 crore on new product development, marketing and enhancing infrastructure the next fiscal (ET)
-Karuturi Global acquired 58% stake in Florista India through a share swap deal (BS).
-Camlin inks pact with Japanese based Zebra pen & pencils manufacturer Zebra co Ltd (BS).
-Jet Airways to repay around Rs 1,000 cr of debt each fiscal & also looking to prepay some of its high cost rupee debt (Mint).
-Nalco may invest around Rs 700 crore for picking up stake in Hindustan Copper Ltd (Mint).
-Coal India aims to include Indian Railways as a stakeholder in the project to ensure smooth delivery of imported coal to the power stations (BL).
-L&T Infra to raise Rs 400 crore through bonds which will open on February 7 (BL)
-SAIL bids for Mongolian coalfield with reserves of over 6 billion tonnes of coking & thermal coal may setup a plant (HT).-Housing project proposals witness 50% drop in the city on account of lukewarm response to the real estate market (DNA)
-Shyam Star Gems Ltd has made an open offer to acquire 13.9 lakh shares at a price of Rs 18/sh (FE).
-Indian companies eye USD 4 billion generic opportunity as blockbuster drugs losing patent protection in the USA over 2011-2012 (TOI)
F&O cues:
Total Nifty futures up Rs 1447 crore, Options up Rs 1337 cro
Stock futures net add 3 crore shares in Open Int
Nifty Fut OI shed 1.7 lakh shares in Open Int; Nifty futures prem at 13 pts Vs 10 pts
Nifty OI PCR up at 1.25 versus 1.15
Nifty Put add 35.2 lakh shares, Call shed 15.6 lakh shares in OI
Highest OI outstanding at 5400 Put, 5500 Put, 5700 call
Nifty 5500 Put adds 12.6 lakh shares (24%) in OI; prem down from 144 to 86
Nifty 5400 Put add 11.2 lakh shares (14%) in OI, prem down from 98 to 55
Nifty 5300 Put add 7 lakh shares (17%) in OI, prem down from 65 to 33
Nifty 5700 Call add 1.8 lakh shares (3%) in OI, prem up from 19 to 37
Nifty 5500 Call shed 14.3 lakh shares (23%) in OI
Nifty 5100 Put shed 3.5 lakh shares (11%) in OI
Nifty 5400 Call shed 3 lakh shares (13%) in OI
FIIs in F&O on Feb 03
FIIs net sell Rs 421 crore in Index Futures; Open Int up by 42283 contracts
FIIs net buy Rs 3.7 crore in Index Options; Open Int up by 6050 contracts
FIIs net buy Rs 115 crore in Index Options; Open Int up by 11122 contracts
US Markets :
U.S. stocks advanced modestly as encouraging readings on retail sales outweighed worries over Egypt one session before Friday's closely watched unemployment data.
The Dow Jones Industrial Average staged its fourth straight gain as it rose 20.29 points, or 0.17%, to close at 12062.2, the highest close since the middle of June 2008. The gains were kept in check by Merck, which led decliners as it fell 92 cents, or 2.7%, to 32.90 after swinging to a fourth-quarter loss. Earnings and revenue topped Wall Street's expectations, but the drug maker's forecast for full-year adjusted earnings fell below analysts' predictions.
The Nasdaq Composite edged up 4.32, or 0.16%, to 2753.88 for its seventh gain in nine sessions. The Standard & Poor's 500-stock index added 3.07, or 0.24%, to close at 1307.1, with consumer discretionary stocks leading the advance.
•Initial claims for unemployment benefits dropped below expectations tumbling 42,000 to settle at a seasonally adjusted 415,000.
•Productivity rose 3.6% after a 3.5% gain last year. Labour costs dropped 1.5% last year after a 1.6% decline in 2009, as reported by the labour department.
•The services sector grew at its fastest pace in January since August 2005.
•The ISM index of national non-manufacturing activity for January rose to 59.4 from 57.1.
•Total factory orders rose 0.2% to a seasonally adjusted USD 426.8 billion along with stronger shipments of finished products.
And in the day's economic data to watch out for:
•The all important nonfarm payroll employment is expected to gain a modest 150,000 from the previous 103,000.
•The unemployment rate is expected to rise to 9.5% from 9.4%.
The European markets snapped their three day rally yesterday after being weighed down by weak corporate results, though strong US economic data helped pare losses by the close. Meanwhile the Asian markets are shut, all except Nikkei which is trading in the green.
The euro fell 1.5% trading around the 1.36 dollar mark on ECB's decision to keep interest rates low on the back of balanced inflation. On the back of this, the dollar made its biggest bounce in almost one month by gaining 0.9% against a basket of competing currencies.
Crude traded slightly lower, below the USD 91 per barrel mark as a stronger dollar helped erase Middle Eastern oil shipment concerns. Brent crude, meanwhile, continued to rise for a 5th consecutive day to a 28-month high of USD 103 per barrel.
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