|
Markets today sustained the pull back rally, which started
yesterday as the interest rate hike and policy outlook
announced by RBI was on expected lines. Strong rally across
the globe provided further momentum to the indices.
Markets
opened strong and the indices held on to early gains till
the rate hike announcement by RBI at noon. Indices gave
up part of their gains after the announcement but recovered
later and closed near the day's highs.
Sensex
closed with gains of 201 points at 10416 and the Nifty
gained 51 points to close at 3041. Nifty July futures
ended at a discount of just a point to the spot index.
Oil
and gas stocks were among the major gainers today. Gail
India was the best performing index stock, closing nearly
7 per cent higher.
ONGC
closed more than a per cent higher while Reliance Industries
added over 1.5 per cent. BPCL added a per cent and HPCL
closed more than a per cent higher.
Stocks
of standalone oil refineries surged in today's trade.
Bongaigaon ended nearly 12 per cent higher while MRPL
added close to 10 per cent. Essar Oil closed 8.5 per cent
higher and Chennai Petroleum added nearly 6.5 per cent.
Banking
stocks continued their rally from yesterday and closed
with significant gains. ICICI Bank added close to 5.5
per cent while HDFC Bank, PNB and OBC closed with gains
of around 5 per cent each. SBI gained over a per cent.
Cement
stocks surged in afternoon trades, led by Grasim, which
added over 6.5 per cent. ACC added close to 4 per cent
and Gujarat Ambuja gained close to 3.5 per cent.
Metal
stocks recovered and Tata Steel was the best performer
with gains of close to 3.5 per cent. SAIL also added close
to 3.5 per cent wile aluminium stocks Hindalco and Nalco
added over 1.5 per cent each.
Among
other major gainers, HCL Technologies and Cipla added
around 3.5 per cent each.
There
were only 4 losers among Nifty stocks today. Zee Tele
was the biggest loser, closing nearly 1.5 per cent lower.
Tata
Tea lost close to a per cent while ITC and Infosys closed
with marginal losses.
Global
markets / crude oil
US markets rallied yesterday on large merger announcements
and good corporate numbers. Two major merger announcements
came out yesterday, lifting stocks in the respective sectors.
Oil stocks gained as crude oil prices recovered.
The
Dow and S7P 500 indices closed with gains of nearly 1.65
per cent each. Technology stocks did even better and the
NASDAQ ended with gains of over 2 per cent.
All
Asian markets surged ahead following the strong rally
in the US. Japan and Singapore closed with gains of close
to 1.4 per cent each while South Korea added 1.3 per cent.
Shanghai
closed more than a per cent higher while Hong Kong, Thailand
and Malaysia added over 0.6 per cent each. Indonesia closed
with more modest gains of 0.35 per cent.
European
markets are mixed, but major indices are trading with
modest gains in early afternoon trades.
Crude
oil prices recovered yesterday as hostilities in the Middle
East showed signs of worsening. Near month NYMEX futures
closed with gains of close to a per cent at $75.05 per
barrel yesterday. The commodity is trading with modest
gains in European trades today.
Large-cap
news flow
- Tata
Motors
has finalised an agreement with Fiat Group to establish
a JV in India to manufacture cars, engines and transmissions
under the brands of both companies, for the domestic
as well as overseas markets. The Ranjangaon assembly
unit of Fiat would come under the JV, which would have
a capacity of 1 lakh cars and 2.5 lakh engines per annum.
- Tata
Motors and Fiat would also explore the possibility
of sharing Fiat's facility in Argentina to produce pick-up
trucks and utility vehicles under both brands for the
Latin American markets.
-
has formed a JV with telecom major Motorola to offer
managed network services to customers worldwide. The
JV would set up a global delivery and management centre
in India with headquarters in Europe. Wipro said the
market for managed network services is expected to touch
$48 billion per annum globally by 2010.
- Satyam
Computer has formed an alliance with GigaSpaces
Technologies to offer solutions for service-oriented
architecture and grid environments.
- JSW
Steel would make a preferential issue of 1.5 crore
convertible warrants to the promoter group. The warrants
are convertible over the next 2 years at a price determined
by the relevant guidelines. Promoter stake in the company
would be close to 50 per cent on conversion.
- The
Hinduja group has acquired the stake held by
Italian company IVECO, a part of Fiat group, in the
holding company of Ashok Leyland.
Mid-Cap
Action
Mid-caps
and small caps also recovered strongly, after remaining
subdued yesterday even when the large caps rallied. Many
stocks attracted significant interest on positive news
flows and good corporate results.
The
CNX Mid-Cap index ended with gains of 77 points, or 2.12
per cent, to end the day at 3703. BSE mid-cap index gained
2.07 per cent and the BSE small cap index added 2.02 per
cent.
Air
Deccan saw a sharp pull back after the company became
the second largest domestic airline. The stock closed
nearly 14 per cent higher.
Archies,
India Infoline, Voltas, Elder Pharma, Kirloskar Brothers
and D-Link were among the other mid-cap gainers.
Zenith
Computers, Mahindra Ugine, Asian Electronics, Easun Reyrolle,
Dhampur Sugar, UTV Software and LG Balakrishnan were among
the major mid-cap losers.
Mid-cap
news flow
- UTV
Software has sold its children's television channel
to Walt Disney of US for an enterprise value of $30.5
million. The company would also make a preferential
allotment of 34 lakh equity shares to Walt Disney at
a price of Rs192.5 per share. Existing promoters of
the company would also divest a part of their holdings
to Walt Disney, taking the total stake of the latter
to 14.9 per cent.
- UTV
would also make a preferential issue of convertible
warrants to existing promoters. On conversion, promoters'
stake in the company would go up to 47.6 per cent.
- IndiaBulls
would de-merge its real estate business, excluding its
JV with DLF and integrated township project in Sonepat,
into a separate company, which would be listed on the
exchanges. Shareholders would receive one share of the
real estate company for every share held.
- IndiaBulls
has raised Rs644 crore from an issue of preference shares
to a subsidiary of US based hedge fund Farallon Capital.
-
ICI India
would buy back equity shares at a price not exceeding
Rs350 per share. The company has acquired the balance
1 per cent stake in Quest International to make it an
wholly owned subsidiary.
- IL&FS
Investsmart said US-based online stock brokerage
E-Trade may increase its involvement in the management
of the company and may also increase its equity stake.
- Ind
Bank Housing has taken possession of a residential
apartment building in Chennai for non-repayment of advances
to the tune of Rs15 crore. The property would be auctioned
to realise the outstanding amount.
-
Chemplast Sanmar would get into the PVC products
business through acquisitions or by setting up a new
unit. The company is planning to raise up to Rs200 crore
from a rights issue.
- Pearl
Global said it is planning to acquire or take on
lease a manufacturing unit in Gurgaon, near Delhi.
- has commenced shipment of high density
DVD recordable disks (HD-DVD) with a capacity of 15
GB each to global customers. Global market for this
kind of disks is expected to touch 1.5 billion pieces
within 3 years, according to the company.
- The
board of Sabero Organics would meet later this month
to consider a preferential issue of equity shares and
convertible warrants.
-
The board of La Opala RG would meet later this
month to consider a bonus issue.
- Gitanjali
Gems has acquired the whole of a privately held
jewellery retailer for an undisclosed amount.
- Lupin
has decided to wind up its Hong Kong-based subsidiary.
- The
board of Kirloskar Brothers would meet to review
the shareholder agreement for the JV with Copeland of
US.
- The
Hinduja group has acquired the stake held by Italian
company IVECO, a part of Fiat group, in the holding
company of Ennore Foundries.
- Sintex
Industries has signed an agreement with a UK-based
company for product design and product sales for a period
of three years, extendable for a further period of five
years.
- Bhagyanagar
Metals has incorporated 2 subsidiaries for real estate
and infrastructure businesses.
- Educomp
Solutions would raise up to $25 million from an overseas
issue of equity or related instruments.
*Disclaimer:
The author
may have positions in some of the stocks specifically
mentioned above at the time of writing this article. This
analysis / report is only for the purpose of information
and is not an investment advice. Readers are advised to
consult a certified financial advisor before taking any
investment decisions. While efforts have been made to
ensure the accuracy of the information provided
in the content the author or publisher shall not be held
responsible for any loss caused to any person whatsoever.
Market:
Indices
National
Markets
Gain (+) / Loss (-)
|
SENSEX
|
10,415.61
|
+
200.24 |
| NIFTY
|
3,040.50
|
+54.65
|
Last
Update : 25 July, 2006 16:00:00 PM
Market
Counters
Figures in Rupees
BSE
30
| Scrip
Name |
Open |
High |
Low |
Last
Price |
| ACC
|
800.00
|
823.90
|
800.00
|
820.00
|
| Bajaj
Auto |
|
|
|
2,490.25 |
| Bharti
Tele |
|
|
|
369.30 |
| BHEL
|
1,850.00
|
1,850.00
|
1,810.25
|
1,828.35
|
| Cipla |
218.50
|
224.40
|
217.85
|
223.10
|
| Dr
Reddys Lab |
1,275.00
|
1,316.90
|
1,270.00
|
1,296.05
|
| Grasim
Indus |
1,880.00
|
2,000.20
|
1,880.00
|
1,989.75 |
| Guj
Ambuja |
103.00
|
104.20
|
100.65
|
103.70
|
| HDFC
Bank Ltd |
745.00
|
768.00
|
740.00
|
763.90
|
| HDFC
Ltd |
|
|
|
1,097.30 |
| Hero
Honda |
715.90
|
721.00
|
706.10
|
711.40
|
| Hindalco
|
158.00
|
159.70
|
156.00
|
157.75
|
| HLL
|
230.05
|
236.90
|
230.05
|
234.35
|
| ICICI
Bank |
520.00
|
544.95
|
520.00
|
541.10
|
| Infosys |
1,630.00
|
1,644.90
|
1,598.20
|
1,610.20 |
| ITC
|
166.90
|
168.00
|
163.10
|
163.85 |
| L&T
|
2,089.00
|
2,129.00
|
2,070.00
|
2,116.05
|
| Maruti |
734.65
|
744.80
|
730.00
|
739.90
|
| NTPC
|
109.20
|
111.65
|
109.00
|
110.60
|
| ONGC
|
|
|
|
1,093.65 |
| Ranbaxy
|
|
|
|
356.35 |
| Rel
Energy |
443.00
|
451.00
|
441.00
|
447.70
|
| Reliance
|
982.00
|
991.85
|
977.00
|
987.30
|
| Satyam
|
723.90
|
734.00
|
708.10
|
731.00
|
| SBI
|
|
|
|
746.90 |
| Tata
Motors |
695.00
|
708.00
|
692.00
|
701.65
|
| Reliance
Comm Ventures Ltd |
245.55
|
250.90
|
245.00
|
248.25
|
| Tata
Steel |
485.00
|
497.00
|
484.80
|
494.95
|
| TCS
|
1,825.00
|
1,855.00
|
1,825.00
|
1,845.65
|
| Wipro
|
|
|
|
469.70 |
Last
Update : 25 July, 2006 16:26 PM
S&P
CNX Nifty
| Symbol |
Open |
High |
Low |
Last
Price |
| SATYAMCOMP
|
721.00
|
734.00
|
708.10
|
731.00 |
| RELIANCE
|
984.80
|
991.00
|
977.00
|
987.80 |
| TATASTEEL
|
485.10
|
497.50
|
485.00
|
495.60 |
| INFOSYSTCH
|
1629.00
|
1643.90
|
1600.00
|
1610.70 |
| TATAMOTORS
|
696.00
|
707.75
|
690.25
|
701.75 |
| SBIN |
742.00 |
754.60
|
737.50
|
748.35 |
| ICICIBANK
|
519.95
|
545.00
|
519.95
|
542.40 |
| ITC
|
169.00
|
175.00
|
163.00
|
164.10 |
| SUZLON |
988.00 |
1017.00
|
981.55
|
992.20 |
| ACC
|
804.00
|
823.50
|
800.00
|
820.50 |
| ONGC |
1090.00 |
1101.70
|
1081.00
|
1093.25 |
| TCS
|
1840.00
|
1855.00
|
1825.05
|
1847.30 |
| LT
|
2095.90
|
2129.00
|
2070.10
|
2114.60 |
| GRASIM
|
1902.00
|
2000.00
|
1872.00
|
1990.30 |
| MARUTI |
729.00 |
745.00
|
729.00
|
743.05 |
| WIPRO
|
479.90
|
489.90
|
466.20
|
469.80 |
| GUJAMBCEM
|
102.00
|
104.15
|
100.80
|
103.65 |
| HINDLEVER
|
230.00
|
236.75
|
230.00
|
234.35 |
| SIEMENS |
840.00 |
857.50
|
825.00
|
838.70 |
| HDFC
|
1099.00
|
1115.95
|
1085.90
|
1097.15 |
| ZEETELE |
247.00 |
255.75
|
245.00
|
246.80 |
| VSNL
|
360.00
|
367.10
|
357.00
|
363.65 |
| BHEL
|
1825.00
|
1844.00
|
1811.15
|
1829.65 |
| HINDALC0
|
158.15
|
159.75
|
155.85
|
157.85 |
| HDFCBANK
|
740.00
|
769.90
|
740.00
|
766.00 |
| HEROHONDA
|
719.00
|
723.00
|
705.60
|
712.70 |
| PNB
|
334.90
|
347.85
|
330.80
|
345.55 |
| IPCL
|
245.70
|
249.30
|
242.50
|
245.55 |
| RANBAXY
|
357.75
|
360.00
|
354.00
|
356.15 |
| M&M
|
520.10
|
543.00
|
520.10
|
528.75 |
| SAIL |
67.00 |
68.65
|
67.00
|
68.30 |
| CIPLA |
218.00 |
224.85
|
217.70
|
223.70 |
| ABB
|
2363.70
|
2410.00
|
2342.00
|
2366.50 |
| GAIL |
239.00 |
250.50
|
236.00
|
248.15 |
| BHARTIARTL
|
367.00
|
374.80
|
365.05
|
369.45 |
| BAJAJAUTO
|
2490.05
|
2538.90
|
2480.00
|
2495.15 |
| MTNL |
137.50 |
141.80
|
137.50
|
139.85 |
| DRREDDY
|
1282.00
|
1319.00
|
1260.00
|
1296.50 |
| HCLTECH
|
519.05
|
536.50
|
519.05
|
531.90 |
| REL
|
439.60
|
451.00
|
439.60
|
448.35 |
| DABUR
|
135.00
|
136.45
|
131.65
|
133.20 |
| SUNPHARMA
|
760.00
|
774.80
|
750.25
|
769.65 |
| ORIENTBANK
|
166.95
|
171.50
|
163.10
|
170.20 |
| NATIONALUM
|
213.00
|
214.00
|
208.00
|
209.85 |
| TATAPOWER
|
465.20
|
484.20
|
465.20
|
481.80 |
| JETAIRWAYS
|
536.60
|
599.90
|
512.00
|
518.75 |
| GLAXO
|
1003.00
|
1028.80
|
1001.10
|
1023.20 |
| HINDPETRO
|
215.00
|
219.90
|
214.10
|
215.10 |
| BPCL
|
315.00
|
323.90
|
306.15
|
317.90 |
| TATATEA
|
740.00
|
745.00
|
725.00
|
734.65 |
Last
Update : 25 July, 2006 16:09PM
|
|
