Morning EQ-Tea 21 September 2010

Indian Indices % Change

Last Close 1 Day MTD YTD Corporate News/Results Corner
Sensex 19,906 1.6 10.8 14.0
Nifty 5,980 1.6 10.7 15.0 Page Page
CNX Midcap 9,236 0.8 6.4 24.3 No. No.
CNX IT 6,528 0.8 9.3 12.2 • Corporate News 2 • Price Shockers 3
Bankex 12,251 1.2 14.0 35.7
Auto 9,397 1.3 6.6 26.4 • Macro Economic News 2 • Event Calendar 4
Metal 16,700 1.3 11.5 (4.0)
FMCG 3,688 3.5 8.9 32.1 • International News 2 • Corporate Actions 4
Global Indices % Change • Bulk Deals 3
Last Close 1 Day MTD YTD
Shanghai 2,589 0.3 (1.6) (20.8) • Insider Trades 3
Nikkei 225 9,626 0.4 9.5 (8.4)
Straits Times 3,081 0.5 4.9 6.9 Statement of the day
Hang Seng 21,977 0.4 7.5 0.9
DJIA 10,754 1.4 7.4 3.1
“RBI cannot be an inflation targeter as it also has the mandate of
S&P 500 1,143 1.5 8.9 2.5
maintaining financial stability and not just price stability,”
FTSE 5,603 1.7 7.2 3.5
Dollar Index 81 (0.2) (2.4) 4.2 D Subbarao – Governor of Reserve Bank of India
Live Markets As on 0730 hours IST
Hang
Shanghai Nikkei SGX Nifty Seng Institutional Activity Vis-à-vis Sensex Movement
Current Quote 2,593 9,665 6,006 22,080
% Change 0.2% 0.4% 0.0% 0.5%
(Rs Mn) Provisional Figures for Investments
ADR (CONVERTED TO INR) Prem / (Disc) in (%)
30000 19906.1 20000
ADR CloseNSE Close 1 Day 1Mth 25000
19800
INFOSYS 3,024 3009 0.5 0.4 20000
ICICI BANK 1,118 1128 (0.9) (0.1) 15000 19600
TATA COM 334 335 (0.3) (0.7) 19346.96 19417.49
10000 19594.75
HDFC BANK 2,820 2446 13.3 13.5 19502.11 19400
5000 19208.33
STERLITE 173 172 0.6 74.8
0 19200
Volumes Moving Average (Rs bn)
-5000
1 Day 5 Day 30 Day 19000
BSE CASH 52 52 53 -10000
NSE CASH 162 168 149 -15000 18800
NSE F&O 1446 289 48 13-Sep 14-Sep 15-Sep 16-Sep 17-Sep 20-Sep
Institutional Activities (Net) Spot market
1 Day MTD YTD FII (LHS) MF (LHS) Sensex (RHS)
FII (Rs bn) 17.9 137 586
Source: NSE, BSE & SEBI
MF (Rs bn) (4.6) (49) (241)

Bond Market Historical Data (%) BSE Advance/Decline

1 Day 1M 1 Yr
10Yr Yield (G-Sec) 7.98 7.95 7.59

Currency Market % Change 2,000 1.8

Last Close 1day MTD YTD 1.5
1.5 1.6
INR/USD 45.71 0.3 3.0 1.8 1,600 1.4
Number of Shares

INR/EURO 59.83 0.4 (0.3) 11.3

1.2
INR/GBP 71.07 (0.1) 1.6 5.9 1,200 1.0
1.0
Commodities Update % Change 0.7
0.6 0.8
Unit Close 1 Day MTD YTD 800
0.5 0.6
Crude Oil(NYME) $/Bbl 74 (0.6) 3.4 (6.3)
400 0.4
Gold (OTC) $/Oz 1,278 (0.0) 2.5 16.5
Copper (LME) $/MT 7,704 (0.1) 3.7 4.9 0.2
Aluminum (LME) $/MT 2,164 0.6 6.0 (1.5) 0 0.0
Sugar (LIFFE) $/MT 608 (4.3) 5.4 4.8 13-Sep 14-Sep 15-Sep 16-Sep 17-Sep 20-Sep
Zinc (LME) $/MT 2,180 1.3 5.6 (14.8)
Advance (LHS) Decline (LHS) Adv/Decl Ratio (RHS)
Baltic Dry Index 2,628 (1.8) 7.2 3.5
Source: Bloomberg, NSE, BSE & SEBI Source: BSE

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Corporate News/Results Corner

EIH rights offer may help RIL raise stake

East India Hotels said it would issue rights shares, sparking speculation that the promoters as well as the Mukesh Ambani-
controlled Reliance group, which recently bought over 14.8% in the company, could buy unsubscribed portion of the issue to
raise their holdings. The company board will meet on Thursday to consider the proposal.

IOC first off the block, raises petrol price by 27paise

Petrol will become costlier by 27 paise from Tuesday at over 18,600 retail outlets of Indian Oil Corp, making it the first state-
run oil company to exercise the pricing freedom announced by the government on June 26.

Core Projects acquires 2 US-based education firms

Core Projects and Technologies, provider of ICT (information and communication technology) education services, acquired two
US-based education companies today for $20mn. Both companies together cater to the needs of about 1.5mn students across
1,500 schools in the US.

REC gets infra financier status (positive)

Rural Electrification Corporation (REC) has received the status of an infrastructure finance company (IFC) from the Reserve
Bank of India. The firm would also be able to issue infrastructure bonds and raise funds up to $500 million through external
commercial borrowing in a year.

Metro boost for cement, steel

The revival of the Hyderabad metro rail project is seen as a boost for cement and steel companies, which now have started
coming out of the recession and the subsequent lack of demand from the real estate sector. According to officials, the Rs
121bn metro rail project would require about 2.6mn tonne cement, 2,17,000 tonne of steel and 5.8mn cubic metre concrete.
This will translate into 52.31mn bags of cement.

Steel PSUs may have to bid for mines under draft bill
The steel ministry has made its opposition known to certain proposals in the new mining Bill that seek to remove reservation
of mines for public sector undertakings, a sign that the ministerial group, which is almost done with the draft legislation, still
has a long way to go.

Macro Economic and Other News International News

Monsoon withdrawal delayed by another week
The withdrawal of the monsoon is expected to be delayed
by another week, according to the Met department. This
year, the monsoon has shows no signs of retreating
although, normally, withdrawal begins in west Rajasthan
by September 1.
Rupee hits 4-month high
The rupee continued its rally against the dollar on Monday
and touched a four-month high of 45.58 in intra-day
trade. This is the eight consecutive trading session in
which the rupee has appreciated against the greenback. It
has gained by more than 2.5% during this period.
NAHB Housing Market Index falls short of consensus
estimates
The US NAHB Housing Market Index for the month of
September came in at 13 vs consensus estimates of 14.
This compares to a previous month figure of 13. (the
NAHB housing market index is a gauge of expectation on
the prospects of home sales with a reading above 50
signifying good prospects and below 50 signifying poor
prospects).

Source: Economic Times, Business Line, Business Standard, Times of India, DNA Money, Mint, Financial Express, Bloomberg

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Bulk Deal

Company Acquirer Qty Price Seller Qty Price

Consolidated
Construction N.A. EIF-Coinvest Iii 1585127 83.1
Wisdomtree Trust A/C
Wisdom Tree India
IFCI Ltd. Investment Portfolio 3726449 61.9 N.A.
Sanghai Commercial & India Max Investment Fund
Indowind Ener Credits Pvt Ltd 292500 45.0 Limited 292500 45.0
Sanghai Commercial & India Max Investment Fund
Intl Conveyors Credits Pvt Ltd 2403000 23.8 Limited 2403000 23.8
Karuturi Global Ajit Kumar Jain 10000000 26.4 N.A.
Sanghai Commercial & India Max Investment Fund
LKP FIN Credits Pvt Ltd 390130 118.8 Limited 390130 118.8
Sanghai Commercial & India Max Investment Fund
Lumax Auto Tech Credits Pvt Ltd 193000 173.3 Limited 193000 173.3
Magma Fincorp Nordea Bank S.A. A/C
Limited Nordea 1 Sicav -It Fund 679525 80.2 N.A.
Parabolic Drugs Alchemist Holdings 1277526 63.8 N.A.
Roselabs Inds Abhijit Ramesh Mohod 291544 30.9 N.A.
N.A. = Not Available
Source: BSE & NSE

Insiders Trades

Company Acquirer/Seller Bought/Sold Qty

Cosmo Films Ltd International Finance Corporation S 901053
Gulf Oil Corporation Ltd Aasia Management & Consultancy Pvt Ltd S 950000
ICICI Prudential Mutual Fund along with Prudential
GVK Power & Infrastructure Ltd Asset Mgmt (Singapore) Ltd S 737986
Hindustan Construction Company Ltd Ajit Gulabchand, Chairman & Managing Director B 2117294
ITC Ltd Balakrishnan Vijayaraghavan B 400120
Manappuram General Finance Granite Hill India Advisors Pvt Ltd GHIOF Mauritius S 1164516
Orchid Chemicals & Pharmaceuticals R Vijayalakshmi B 1189000
Shree Ashtavinayak Cine Vision Dahlia Traders Pvt Ltd B 7500000
Zee Entertainment Enterprises Ltd Jayneer Capital Pvt Ltd S 60825829
Source: BSE NSE & Capitaline
Note: The above insiders Trades might include ESOPs conversion.

Volume Shockers

Gainers Losers
Change Close Change Close
Company Del. Vol. Price Change Company Del. Vol. Price Change
(%) (Rs) Price (%) (%) (Rs) Price (%)
Indian Bank 2,223 271 2.0 Federal Bank 1,387 374 (0.7)
Zee Entertainmen 514 290 1.3 Power Fin.Corpn. 1,232 355 (0.2)
Thermax 477 802 2.6 IRB Infra.Devl. 864 277 (0.6)
Glenmark Pharma. 423 288 0.6 Tata Power Co. 367 1,264 (0.0)
ONGC 367 1,402 0.3 Crompton Greaves 209 310 (1.2)
KSK Energy Ven. 342 182 5.5 GTL 159 433 (0.0)
MTNL 300 64 0.9 Religare Enterp. 136 470 (1.4)
India Infoline 265 109 4.2 Lanco Infratech 133 69 (0.7)
GMDC 262 141 6.6 Areva T&D 127 293 (0.3)
Colgate-Palm. 250 860 4.5 GVK Power Infra. 89 48 (0.6)
ITC 231 177 4.9 Tulip Telecom 59 172 (0.9)
Shriram Trans. 226 799 3.1 Hind.Copper 58 439 (0.7)
Cummins India 225 750 0.6 Financial Tech. 49 1,406 (1.1)
Indian Hotels 222 106 1.1 Indiabulls Fin. 46 145 (2.6)
P & G Hygiene 207 2,240 1.2 Bharat Electron 45 1,813 (1.2)
Source: Capitaline

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Event Calendar

• Sep 21: US Housing Starts for Aug (Expectation 550K, Prior 546K)
• Sep 21: US FOMC Rate Decision (Expectation 0.25%, Prior 0.25%)

Source: Bloomberg

Corporate Actions

Ex Date Company Purpose Ex Date Company Purpose

Parekh Aluminex Dividend-Rs.3/- Per Edserv Softsystems AGM And Dividend Rs.3/-
21-Sep 21-Sep
Limited Share Limited Per Share
Cronimet Alloys India
21-Sep AGM 21-Sep Mukta Arts Limited AGM
Limited
AGM And Dividend Amarjothi Spinning AGM And Dividend Rs 1.80
21-Sep United Spirits Limited 21-Sep
Rs.2.50 Per Share Mills Limited Per Share
Kwality Dairy (India) AGM And Dividend GKB Ophthalmics AGM And Dividend Of
21-Sep 21-Sep
Limited Re.0.10 Per Share Limited Rs.1.20 Per Share
AGM And Dividend The Andhra Sugars AGM And Dividend Rs.5/-
21-Sep Tricom India Limited 21-Sep
Re.0.24 Per Share Limited Per Share
21-Sep Antarctica Limited AGM 21-Sep Entegra Limited AGM
AGM / Dividend Rs.2.50 Per
AGM And Dividend Bhushan Steel
21-Sep Delta Corp Limited 21-Sep Share And Face Value Split
Re.0.25 Per Share Limited
From Rs.10/- To Rs.2/-
KNR Constructions AGM And Dividend Ankur Drugs And AGM And Dividend Rs.2.25
21-Sep 21-Sep
Limited Rs.2/- Per Share Pharma Limited Per Share
Dividend-Re.0.25 Per Archidply Industries
21-Sep ECE Industries Limited 21-Sep AGM
Share Limited
Ajmera Realty & Infra AGM And Dividend IRB Infrastructure AGM And Dividend Rs.1.50
21-Sep 21-Sep
India Limited Rs.1.10 Per Share Developers Limited Per Share
Liberty Shoes
21-Sep Raj Oil Mills Limited AGM 21-Sep AGM
Limited
AGM And Final Dividend Blue Coast Hotels
21-Sep Mastek Limited 21-Sep AGM
Rs.1.25 Per Share and Resorts Limited
Paramount
NK Industries
21-Sep Communications AGM 21-Sep AGM
Limited
Limited
Kaveri Seed Company AGM And Dividend Jenson & Nicholson
21-Sep 21-Sep AGM
Limited Rs.2/- Per Share (India) Limited
Grabal Alok Impex AGM And Dividend Re.0.80
21-Sep PVP Ventures Limited AGM 21-Sep
Limited Per Share
Dividend-Rs.6/- Per Carol Info Services AGM And Dividend Rs.2/-
21-Sep Zylog Systems Limited 21-Sep
Share Limited Per Share
The State Trading
AGM And Dividend Opto Circuits (India) AGM And Dividend Rs.4/-
21-Sep Corporation of India 21-Sep
Rs.2.25 Per Share Limited Per Share
Limited
Jagsonpal
Quintegra Solutions AGM And Dividend Re.0.50
21-Sep AGM 21-Sep Pharmaceuticals
Limited Per Share
Limited
NCL Industries AGM And Dividend Re.1/-
21-Sep ICDS Limited AGM 21-Sep
Limited Per Share
AGM And Dividend Lumax Automotive
21-Sep Karuturi Global Limited AGM
Re.0.10 Per Share Systems Limited
Mangalam Drugs
Astra Microwave AGM And Dividend
21-Sep 21-Sep And Organics AGM
Products Limited Re.0.50 Per Share
Limited
AGM And Dividend FCS Software
21-Sep Amar Remedies Limited 21-Sep AGM
Re.1/- Per Share Solutions Limited
Cybertech Systems And AGM And Dividend Atlas Cycles AGM / Dividend Rs.4.50 Per
21-Sep 21-Sep
Software Limited Re.1/- Per Share (Haryana) Limited Share
Burnpur Cement
21-Sep AGM 21-Sep Prime Focus Limited AGM
Limited

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 Ex Date Company Purpose Ex Date Company Purpose
Rohit Ferro-Tech AGM And Dividend ATN International
21-Sep 21-Sep AGM
Limited Re.0.50 Per Share Limited
AGM And Dividend Shyam Telecom
21-Sep Atlanta Limited AGM
Re.1/- Per Share Limited
Ganesh Housing AGM And Dividend Ramsarup Industries
21-Sep 21-Sep AGM
Corporation Limited Rs.1.80 Per Share Limited
Mangalore Chemicals & AGM And Dividend Spice Mobility AGM And Dividend Rs.1.50
21-Sep 21-Sep
Fertilizers Limited Re.1/- Per Share Limited Per Share
Source: NSE

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Advisory Group
Karun Mutha
SVP & Head - Equity & Derivatives Advisory
Tel +91-22-67897833
Email: karun.mutha@hsbcinv.com

Fundamental Team Designation/Sectors covered

Supriya Madye AVP Analyst–Auto Cement Infra 022 39673815 supriya.madye@hsbcinv.com
Deepan Sankaranarayanan Analyst–Media Logistics 022 39673818 deepan.sankaranarayanan@hsbcinv.com
Jignesh Shial Analyst–Banking Real Estate 022 39673820 jignesh.shial@hsbcinv.com
Hitesh Punjabi Analyst–IT Pharma 022 39673823 hitesh.punjabi@hsbcinv.com
Prerna Jhunjhunwala Analyst–Retail FMCG Capital Goods 022 39673822 prerana.jhunjhunwala@hsbcinv.com
Chetan Thacker Associate Analyst–Metal Mining Agri 022 39673821 chetan.thacker@hsbcinv.com
Priyanka Rai Assistant Manager (Production) 022 39673852 priyanka.rai@hsbcinv.com

Quantitative Team
Tina Khetan Derivative Analyst 022 67897828 tina.khetan@hsbcinv.com
Akshay Bhagwat Derivative Analyst 022 67897830 akshay.bhagwat@hsbcinv.com
Nikunj Shah Derivative Analyst 022 67897827 nikunj.shah@hsbcinv.com

Technical Team
Mukesh Singh Vice President- Technical Analyst 022 67897816 mukesh.singh@hsbcinv.com
Rahul Randeria Technical Analyst 022 67897817 rahul.randeria@hsbcinv.com
A.SenthilRaj Technical Analyst 022 39673998 a.senthilraj@hsbcinv.com

Advisory Support
Tony Nawani Manager 022 67897825 tony.nawani@hsbcinv.com
Ashutosh Desai Assistant Manager 022 67897826 ashutosh.desai@hsbcinv.com
Vinod Hassija Assistant Manager 022 67897827 vinod.hassija@hsbcinv.com

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Disclaimer:
Issuer of the Document:- HSBC InvestDirect Securities (India) Limited*
Registered Office:-
Dhana Singh Processor Premises
J B Nagar Andheri - Kurla Road
Andheri (East)
Mumbai – 400 059
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Website: www.hsbcinvestdirect.co.in

Disclosure
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employees may have various positions in any of the stocks securities and financial.
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