Morning Glance

Equity Research Desk 28th Jul, 2010

Indices 27-Jul Chg (%) Pts Market Summary
Indian The markets ended on a positive note on Tuesday. The overall market breadth
SENSEX 18,077.61 0.32 57.56 was negative, around 50.6% of shares declined on BSE and 52.7% of shares
SPCNXNIFT 5,430.60 0.22 12.00 declined on NSE. Out of the total 3,000 shares traded at BSE, 1,369
BANKEX 11,478.26 0.69 78.67 advanced, 1,520 declined, while 111 remained unchanged. Indian markets
BSEIT 5,542.17 0.66 36.29 bounced back on Tuesday snapping earlier losses. The Sensex ended in the
BSEHC 5,608.35 -0.32 -17.89 positive terrain aided by auto and realty stocks, while capital goods, healthcare
BSEFMCG 3,232.29 0.40 12.88 and power declined marginally. The index started the day on a flat note with
BSEPSU 9,475.75 0.23 21.59 negative bias and soon moved up into the positive zone to trade in a lackluster
CNXMID 8,366.85 0.16 13.65 manner. However, the Sensex gained momentum after RBI’s rate hike
announcement. It further gained ground, touching a high of 18,149.56 as
World European market opened in green. Later, it pared some of its gains to finally close
NASDAQ 2,288.25 -0.36 -8.18 off day’s high.
Dow Jones 10,537.69 0.12 12.26
Hang Seng* 20,961.55 -0.06 -11.84 Volumes on BSE and NSE both rose on Tuesday. BSE amounted to Rs 40.8 billion
Nikkei* 9,680.91 1.94 184.06 and NSE amounted to Rs 133.6 billion. At the close, the benchmark 30-share
KOSPI Index* 1,765.20 -0.18 -3.11 index, BSE Sensex added 57.56 points or 0.32% at 18,077.61. Meanwhile, the
*07.25 A.M Today broad based NSE Nifty climbed by 12 points or 0.22% at 5,430.60.
Delivery Trade Delivery %
Statistics Volume Volume Gainers in the 30-share index were Mahindra & Mahindra (3.23%), Tata Motors
Nifty Most Delivered (3.16%), ACC (3.04%), Hero Honda Motors (2.97%), D L F (2.06%), and Maruti
GAIL 1380791 1047686 75.88 Suzuki India (1.41%).
SIEMENS 362736 256860 70.81 Market Summary Continued…
ITC 1788042 1245744 69.67
SUNPHARMA 149585 103692 69.32 Company Purpose
IDFC 5816292 3999677 68.77 Ex date
Nifty Least Delivered
RELCAPITAL 1448463 206268 14.24 Board Meeting
BPCL 833413 194815 23.38 Allied Digital Services Limited Result
DLF 9252032 2195548 23.73 Bala Techno Industries Limited Result
SUZLON 6735755 1618770 24.03 Can Fin Homes Limited Result
D L F Limited Result
UNITECH 34104905 8544676 25.05
Essel Propack Limited Result
G T L Infrastructure Limited Result
Trade Statistics BSE NSE F&O
H C L Technologies Limited Result
Turnover (Rs cr) 4086 13367 114889 Ind Swift Limited Result
Advance (No) 1369 612 Jindal Steel & Power Limited Result
Declines (No) 1520 741 Kirloskar Oil Engines Limited Result
Unchanged 111 52 Lupin Limited Result
Total 3000 1405 Mahindra & Mahindra Limited Result

Inst. Activity Cash F&O Derivatives Segment (NSE)

27-Jul Jul 2010 2010 Options Open Int.
FIIs (Rs cr) Open Int. Strike Call / Put
Ex-Date Statistics (In. mn.)
(In. mn.) Price Ratio
Buy 2268 48104 21020 Nifty Call Put
Sell 1796 36660 19513 29-Jul 20.06 Jul ALL 33.50 56.44 0.59
Net 473 11444 1508 26-Aug 15.04 Jul 5500 12.10 1.64 0.14
Open Interest (Rs. Cr) 116,947 30-Sep 1.32 Jul 5300 2.52 10.01 3.97
MFs (Rs cr) 26-Jul
Buy 281 9041 FII's Derivatives Statistics
Sell Particulars Trade Date 27-Jul
726 11903
Details Buy* Sell* OI (Nos.) OI (Crs.)
Net -445 -2862
Index Future 7485.53 7237.54 659351 17851.13
Index Options 5519.00 4237.84 2298262 62374.10
Indicators Closing Change (pts)
Stock Futures 7798.38 7761.63 1284522 35107.99
Call Money 4.60 -0.90
Stock Options 217.43 275.52 56472 1613.65
10yr Gilt 7.72 0.05 Total 21,020 19,513 4,298,607 116,947
US 10 Yr Yield 3.03 -0.02 Source : NSE * Rs. In Crores (BSE+NSE)
Exchange rate (INR/$) 46.67 -0.38
Gold ($/Oz) 1,163.85 2.25 Futures Indices 27-Jul % Change Pts
Silver ($/Oz) 17.62 0.00 INDEX 5430.60 0.22 12.00
Zinc ($/tn) 1,909 -2.30 Jul 10 5434.60 0.22 12.05
Brent Crude ($/bbl) 76.13 -137 cents Aug 10 5443.80 0.25 13.55
LME Copper ($/tn) 7,059 -1.26 Sep 10 5445.50 0.28 15.15
 Morning Glance
Equity Research Desk 28th Jul, 2010
Junior Nifty Delivery Statistics for 27th Jul, 2010 CORPORATE NEWS
Delivery
Scrip Traded Qty %
Qty SpiceJet signs USD 2.7 bn deal with Boeing, Q1 net doubles to Rs 550
mn
GLAXO 93556 87575 93.61 Fresh from the strong earnings growth for the quarter-ended June 2010 and a
TORNTPOWER 314242 279324 88.89 new management at the helm, Delhi-based low-cost airline SpiceJet said on
LUPIN 284297 234664 82.54 Tuesday it has ordered 30 Boeing 737-800 aircraft to take its fleet size to 75
DRREDDY 843264 598127 70.93 planes by 2018. The deal is pegged at USD 2.7 billion on the list prices and
ASIANPAINT 59640 42025 70.46 deliveries for these Boeing will begin from 2014 and continue till 2018. The
ULTRACEMCO 164527 111547 67.80 company, that reported a maiden full-year profit for the 12 months ended March
IOB 1198275 801488 66.89 31, 2010, saw net profit double to Rs 552 million for the quarter-ended June
COLPAL 44666 29435 65.90 over the year-ago period. Net sales were up 35% to Rs 7,080 million in the
CUMMINSIND 72743 47612 65.45 period. Its passenger load increased to 88% for the three months ended June
CONCOR 7242 4556 62.91 compared to 76% year-on-year. SpiceJet expects to grow its revenues 15-20%
in the current fiscal year.

Derivatives Watch RIL Q1 earnings rise 32.32%

Reliance Industries (RIL), India’s largest company, registered a 32.32% y-o-y
Market Wide PCR up from 1.02 to 1.06
growth for the first quarter of financial year 2011 to Rs 48.51 billion. It posted
Nifty OI PCR at 1.47 as against 1.48 on Tuesday
an 86.71% y-o-y jump in net turnover to Rs 582.28 billion during the same
Nifty up 0.22%; Futures OI up 0.86%
period. During the quarter, exports jumped 103.5% to Rs 328.49 billion. Cash
Nifty Jul. futures trading at 2.35 points Premium
profit climbed 46.1% to Rs 85.36 billion. Gross refining margin stood at USD
Market Summary Continued…
7.30 a barrel.
Larsen & Toubro (2.94%), Housing Development Finance
Corporation (0.66%), Bharat Heavy Electricals (0.54%), Tata
HCC bags Rs 1.26 bn contract
Steel (0.47%), Hindustan Unilever (0.46%), and Reliance
Hindustan Construction Company (HCC) announced that it has received an order
Communications (0.35%) were the biggest losers at the
from Hindalco Industries worth Rs 1.26 billion. The order work includes for
Sensex.
potline structural steel fabrication works for Aditya aluminum project at
Sambalpur, Orissa. The project is to be completed in 16 calendar months from
US stocks fell modestly Tuesday after three days of big gains.
the date of issue of this order.
The Dow rose 12.26 points, or 0.12%, to 10,537.69 after gaining
405 points the past three days on strong earnings and forecasts.
Honda Siel Cars to invest Rs 2.5 bn in Rajasthan plant
The Nasdaq composite index fell 8.18 points, or 0.36%, to
Honda Siel Cars India on Tuesday said it will invest Rs 2.5 billion in its Tapukara
2,288.25.
plant at Rajasthan for expansion of a power train facility that would be used for
its upcoming small car in India. With the new investment, the company’s overall
Asian stocks rose, driving the MSCI Asia Pacific Index higher
investment in the Rajasthan plant will go up to Rs 11.7 billion by the end of the
for the fourth straight day, as Canon Inc. reported earnings that
year. “The Tapukara power train facility expansion will help us to enhance our
beat analysts’ estimates. Japanese benchmark index Nikkei 225
overall capacity in future and also to accrue benefits of low-cost manufacturing
rose 165.76 points, or 1.75%, to trade at 9,662.61.
available in the country,” HSCI President and CEO Takashi Nagai said in a
statement.
Commodity Update
Petron Engg bags Rs 586.3 mn order
Oil prices dropped on Tuesday following disappointing reports Petron Engineering Construction announced that it has bagged order worth Rs
on consumer confidence and manufacturing. Brent crude lost 586.3 million from NTPC, Noida (U.P.). The order work includes supply of
137 cents to settle at USD 76.13 a barrel on the ICE Futures electrical equipment & erection package and its installation, testing,
exchange. commissioning etc. for their thermal power projects at Rihand Nagar,
Sonebhadra, Uttar Pradesh and Vindhyanagar, Siddhi, Madhya Pradesh.

In the commodity space, MCXCOMDEX was up on Tuesday
0.10% to 2,755.84 points, MCXENERGY index was up by 0.16%
to 2,699.38 points and MCXMETAL index was down by 28% to
3,329.06 points.
Bullion: Gold August 10 contract was down by 0.46% to Rs
18,061 per 10 grams, GoldM September 10 contract was down
by 0.45% to Rs 18,137 per 10 grams, and Gold guinea July 10
contract was down by 0.48% to Rs 14,541 per 8 grams. Silver
September 10 contract was down by 0.27% to Rs 29,089 per kg
and SilverM August 10 contract was down by 0.28% to Rs
29,086 per kg. Metals: Nickel August 10 contract was up by
0.17% to Rs 977.20 per kg, aluminium August 10 contract was
up by 0.10% to Rs 96.45 per kg while lead mini July 10 contract
was down by 0.59% to Rs 92.65 per kg, lead July 10 contract
was down by 0.59% to Rs 92.65 per kg, zinc July 10 contract
was down by 0.44% to Rs 89.90 per kg, zinc mini August 10
contract was down by 0.44% to Rs 91.15 per kg and copper
August 10 contract was down by 0.27% to Rs 333.00 per kg.
Godrej Inds Q1 consolidated net at Rs 487 mn
Godrej Industries has posted consolidated net profit of Rs 487.40 million for the
quarter ended Jun. 30, 2010 where as the same was at Rs 163.60 million for the
quarter ended June 30, 2009. Total income is Rs 10,030.20 million for the
quarter ended June 30, 2010 where as the same was at Rs 7,800.30 million for
the same quarter a year ago.
PowerGrid gets Rs 22 bn relief from govt
The government has forfeited a service tax claim of over Rs 22 billion on Power
Grid Corporation, a move that could facilitate smooth sailing for the proposed
stake sale in the country’s largest transmission utility. The finance ministry has
issued a notification relieving the transmission utility of any liability towards
payment of service tax, a government official said. The finance minister had
withdrawn service tax on power transmission in the Union budget 2010-11.
Industry analysts said the move was good from the investor perspective as it
removed a contingent liability from the balance sheet of the company.
 Morning Glance
Equity Research Desk 28th Jul, 2010
Major BSE Bulk Deals
Date Code Scrip Name Client Name Deal Type Qty Price
27-Jul-10 590085 GLOSTER JUTE NATIONAL ISURANCE CO SELL 10655 231.72
27-Jul-10 532841 SAHYADRI INDS PACIFIC CORPORATE SERVICES SELL 67976 181.02
27-Jul-10 530713 AJEL INFO RAPIDCREDITSAND MERCANTILES SELL 75000 31
27-Jul-10 530579 GOLDEN SEC CLASSIC BARTER SELL 25000 11.7

Major NSE Bulk Deals

Date Scrip Name Client Name Deal Type Qty Price
27-Jul-10 ING VYSYA BANK Carlson Fund Equity-Asian Small Cap SELL 2500000 333
27-Jul-10 ING VYSYA BANK HSBC GLOBAL INVESTMENT FUNDS MAURITIUS BUY 2499000 333
27-Jul-10 HARRISONS MALAYALAM OFFSHORE INDIA BUY 200000 133.18
27-Jul-10 HARRISONS MALAYALAM SPENCER AND COMPANY SELL 200000 133.18

Amit Aggarwal Research Analyst amit.aggarwal@spagroupindia.com

Twinkle Saraf Research Analyst twinkle.saraf@spagroupindia.com
Ankit Shah Research Analyst ankit.shah@spasecurities.com
Manas Majumdar Research Associate manas.majumdar@spagroupindia.com
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