2nd August, 2011 Morning Market Updates

2nd August, 2011 Morning Market Updates 8:40


Stock in news

Results today: DLF, Power Grid, Oracle Financial Services, Elecon Engineering, Mahindra Forgings, United Breweries Holdings, Mc Dowell holdings, Cognizant, Titagarh Wagons, Gulf Oil Corp, Piramal Healthcare, Future Capital Holdings, Rushil décor, Whirlpool India, Berger Paints, Ashapura Minechem, DS Kulkarni developers, Eimco Elecon, Radico Khaitan, Monnet Ispat, Firstsource Solutions, Dhampur Sugar, Mangalore Chemicals & Fertilizers, Globus Spirits, Uniply Industries, Halonix

Etisalat says -Majestic Infra Con makes unconditional plea withdrawal
-Welcome decision; in the best interest of Etisalat DB
-Majestic Infra Con is a DB Group promoter co

DB Group: Sources-DB group withdraws Etisalat's company law board plea
-Parties currently in talks towards a possible compromise
-DB had alleged operational mismanagement by Etisalat
-DB alleged delay in rollout of telecom operations by Etisalat

Suzlon says 
-Most turbine companies interested in indian markets
-Will soon introduce REPower's equipment to India
-Expect market share to cross 50% over next 5 years

TNPL (Tamil Nadu Newsprint and Papers) Q1 (cr - crore, vs - versus)
-Net sales up 16% at Rs 336 cr vs Rs 290 cr 
-PAT down 68% at Rs 13 cr vs Rs 40 cr 
-EBITDA margin at 24.1% vs 27.6% 
-Along with higher total expenditure interest and finance charges were recorded up at Rs 32.5 cr vs Rs 8 cr pressurizing the PAT and margins

Andhra Petrochemical Q1FY12 
-Net sales up 1.2 times at Rs 157 cr vs Rs 72 cr 
-PAT up 2.25 times at Rs 13 cr vs Rs 4 cr 
-EBITDA doubled at Rs 27 cr vs Rs 13 cr

Ferro Alloy Q1FY12 
-Net sales down 12% at Rs 108 cr vs Rs 122 cr 
-PAT down 86% at Rs 3 cr vs Rs 22 cr 
-EBITDA down 76% at Rs 8 cr vs Rs 33 cr 
-EBITDA margin at 7.4% vs 27%

Other stocks and sectors that are in news today:-Ex-bonus today: Ashok Leyland (1:1)
-Ex Dividend: Tata Power  Rs 12.5/sh
-F&O ban: Deccan Chronicle , Gitanjali Gems 
- JP Associates July cement sales at 1.45 mt versus 1.22 mt
- Ambuja Cement July cement sales at 1.7 mt versus 1.5 mt (YoY)
- Kotak Mahindra Bank to hike base rate by 25 bps w.e.f Tuesday, to hike deposit rates by 10-50 bps w.e.f Tuesday
- Eicher Motors July total sales up 34% at 4,152 units (YoY)
- Jyoti Structures has bagged orders worth Rs 438 crore from Vidyut Vitran co
- Surana Industries board approves issue of 80 lakh shares at Rs 500/share
- Shriram EPC wins an order to setup a 75 million litre diesel tank storage facility in Queensland Australia
-Govt asks oil marketing companies to cut wasteful expenditure to cut costs & minimize the need to raise prices – ET 
- KEC International is looking to acquire engineering & construction company in USA with for USD 80 million – ET 
- Sun Pharma set to pick up an 11% stake in an Israeli investment company specializing in life sciences – BS 
-Lupin plans to acquire a large Latin American pharma company to with an undisclosed amount (Mint)
-Finance Ministry mulls off-market deals for divestment in ONGC if  FPO fails to take off – DNA  
- GVK likely to rope in a partner for furthering its plans for tapping the potential in oil & gas sector (DNA)
- Aurobindo Pharma scouting for USD 100-200 million buyouts in the overseas markets of Europe & USA (DNA)
-Sony to buy ETV channels for Rs 2600 crore with JM Financial set to get back the money invested in 2008 

FIIs net sell USD 140.17 million in the cash market

MFs net buy Rs 108.3 cr in the cash market

NSE F&O Open Int was up by Rs 4123 crore at Rs 1.06 lakh crore

As per provisional data of August 1, FIIs were net buyers of Rs 86.83 cr in the cash market. FIIs were net buyers of Rs 128 cr in the F&O market. DIIs were net sellers of Rs 95.26 cr in the cash market.