Monday, July 11, 2011

11th July Morning Market Update

11th July Morning Market Update 8:50


Stock in news:

Results today: CMC , Essar Oil , Sintex Inds
RIL - CNBC-TV18 Exclusive: Sources
-Gold plating allegations handiwork of corporate rivals
- RIL sends voluminous reply on CAG audit to Oil Ministry, DGH
-CAG completely overlooked cost recovery provisions of PSC
Deepak Parekh Says
-HDFC Life Insurance IPO likely 2 years from now
-Infra has taken a beating in last 6 months; projects delayed
-Gap between sanctions & disbursals widening in infra
CCEA on RIL-BP deal: Sources-CCEA to mull BP picking up stake in 21 & not 23 blocks
-RIL-BP's USD 7.2 billion deal is for 23 oil & gas blocks
-Oil Ministry to 'take suitable decision' on 2 blocks later
-DGH said consent for BP deal can be given for 21 blocks
-Hardy, Niko given conditional NOC to RIL for 6 blocks
-Hardy retains right to hike interest by up to 5% from RIL's share
-Niko retains right to hike interest by upto 15% from RIL’s share
-Niko, Hardy want same terms as offered to BP
-CCEA to consider RIL-BP deal coming Thursday
Other stocks and sectors that are in news today:- Maruti headed for fresh confrontation with workers at Manesar plant, rebel body Maruti Suzuki Employees Union to boycott union elections slated on July 16 – TOI 
- Indo Asian Fusegear (now EON Elect) buyback at maximum Rs 130/sh ((CMP: 179, open market buyback))
-KV Kamath says: Structure of executive management is set at Infosys, will see results in 12-18 months
-Bharti Infratel plans IPO to raise at least USD 500 million
-Enforcement Directorate slaps Rs 7100 crore notice on Etisalat DB-PE firm providence considering exit from Idea Cellular , holds 9.99% stake valued at Rs 2687 crore – BS 
-USA top outsourcing customers ask IT firms to reduce rates for back office & software work by 15% & profit margins for IT firms likely to fall by 1-3% for Q1 – ET 
-Sun Pictures COO, Hansraj Saxena denied bail
- Compact Disc board promoters to delist from the exchanges soon at Rs 75/share & to settle dispute with HSBC 
- GSPL gets letters of authorisation from PNGRB for developing 3 pipelines with investment of Rs 12500 crore
- Power Grid plans FPO as it might require infusion of another Rs 5000 crore over the next 2 years – BS 
-Mahindra Systech in race for Canadian auto part firm Wescast Industries – BS 
-Railways to buy more wagon from cheapest bidders – FE 
- Elder Pharma severs ties with Singapore based Haw Par Healthcare, will stop marketing of Tiger Balm in India.
- Nalco to hive out its non aluminium business into separate business – ET 
-Cap on subsidy sharing by ONGC likely – BL 
-MFIs to get Rs 1000 crore Loan from Yes Bank – BS 
-Govt plans to outright sell HMT Bearings and Transport Corp of India as companies sick and beyond revival – ET 
-IT Dept scrutinising Videocon – Datacom Deal in lines with 2G issues – ET 
-SC rejects Gammon India’s petition challenging the govt decision to impose custom duty on machines it imported from Germany – ET 
-EGoM expected to approve the nutrient based subsidy policy for Urea in the next couple of weeks – BS 
-Tower firms struggle with now new tenants signing up & many 2G winners did not start the operations on the back of upending business model – FE 
-Ex Dividend: JSW Steel Rs 12.25/sh, Zensar Tech Rs 3.5/share
- Bhartiya Global Infomedia IPO of 67 lakh shares in the price range of Rs 65-82/sh opens today
-F&O ban: Kingfisher Airlines - PTC India may float two PE funds as a part of efforts to strengthen its financing capabilities (Mint)
-RBI against changes in SEBI’s proposal to modify voting rights of holders of ADRs & GDRs (Mint)
-US based Hersheys to seek potential buyers for its 51% stake in the JV with Godrej as the two cos review their alliance & possibly sell off assets (TOI)
F&O
Futures Open Int was down Rs 315 cr and Futures Options Open Int was up Rs 4506 cr
Nifty Futures Open Int unchanged
Nifty Futures Open Int at 12-point premium
Nifty Open Int PCR at 1.25 versus 1.34
Nifty Puts add 19 lk shrs in Open Int
Nifty Calls add 49 lk shrs in Open Int
Nifty Aug 5400 Put adds 8 lk shrs in Open Int
Nifty Jul 5400 Put adds 7 lk shrs in Open Int
Nifty Jul 5500 Put adds 6 lk shrs in Open Int
Nifty Jul 5700 Call adds 15 lk shrs in Open Int
Nifty Jul 5800 Call adds 15 lk shrs in Open Int
Stock futures add 2 cr shrs in Open Int
Cabinet reshuffle put off for now: Reports
Global markets weak
Brent Crude down to $117
NSE F&O Open Int was up Rs 4191 crore at Rs 1.20 lakh crore
As per provisional data of July 8, FIIs were net buyers of Rs 517 cr in cash markets. DIIs were net sellers of Rs 390 cr in cash markets. FIIs were net sellers of Rs 315 cr in F&O.

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