Morning EQ-Tea

Indian Indices Last Close Sensex Nifty CNX Midcap CNX IT Bankex Auto Metal FMCG Global Indices Last Close Shanghai Nikkei 225 Straits Times Hang Seng DJIA S&P 500 FTSE Dollar Index Live Markets Shanghai Current Quote % Change 2,678 2,698 9,226 3,036 21,402 10,341 1,092 5,408 83 1 Day (0.7) (2.0) (1.0) (1.2) (1.0) (1.1) (0.6) (0.1) 18,645 5,604 9,015 6,254 11,193 9,097 16,007 3,481 1 Day 0.5 0.5 (0.1) 1.1 (0.2) (0.3) 0.8 0.1 % Change MTD 3.8 3.7 3.9 4.7 4.2 3.2 6.9 2.8 % Change MTD 1.5 2.5 1.9 2.9 3.3 4.1 3.5 (0.4) YTD 6.8 7.7 21.3 7.5 24.0 22.3 (8.0) 24.7 YTD (18.3) (14.2) 3.8 (3.3) (0.8) (2.1) (0.1) 6.4

8 September 2010

Corporate News/Results Corner
Page No. 2 2 2 3 3 Page No.

• • • • •

Corporate News Macro Economic News International News Bulk Deals Insider Trades

• • • •

Price Shockers Event Calendar Corporate Actions Board Meetings

3 4 4 4

Statement of the day
“I must emphasize that financial services is vital for economic resilience and Indian banks must grow in size to be able to offer services on par with global players and must have appropriate systems in place to manage growth” Pranab Mukherjee - Finance Minister of India

As on 0730 hours IST Nikkei SGX Nifty 9,044 5,569 (0.3%) Hang Seng 21,142 (1.2%)

Institutional Activity Vis-à-vis Sensex Movement
(Rs Mn) 12000 10000 8000 6000 4000 2000 17971.12 0 -2000 -4000 -6000 -8000 31-Aug Provisional Figures for Investments

(0.8%) (2.0%)

ADR (CONVERTED TO INR) INFOSYS ICICI BANK TATA COM HDFC BANK STERLITE Volumes BSE CASH NSE CASH NSE F&O Institutional Activities (Net) 2,849 1,017 335 2,552 165

Prem / (Disc) in (%)

ADR Close NSE Close

1 Day (0.6) (2.1) (1.0) 13.8 0.0

1Mth (0.3) 0.5 (1.0) 15.9 75.3

19000 18645.06 18800 18600

2865 1039 339 2199 164


18238.31 18221.43


18400 18200 18000 17800 17600 17400

Moving Average (Rs bn) 1 Day 5 Day 30 Day 56 152 977 1 Day 53 139 195 Spot market MTD 17 8 51 142 33 YTD 465 (185)

01-Sep FII (LHS)






(Rs bn) (Rs bn)

(0.2) 4.4


Sensex (RHS)

Source: NSE, BSE & SEBI

Bond Market 10Yr Yield (G-Sec) Currency Market Last Close INR/USD INR/EURO INR/GBP Commodities Update Unit Crude Oil(NYME) $/Bbl Gold (OTC) Copper (LME) Sugar (LIFFE) Zinc (LME) Baltic Dry Index $/Oz $/MT $/MT $/MT 46.84 58.98 72.01

Historical Data (%) 1 Day 1M 1 Yr 7.94 1day (0.6) 0.5 (0.1) 7.95 % Change MTD 0.5 1.2 0.3 7.59 YTD (0.7) 13.0 4.5

BSE Advance/Decline

2,000 1,600 Number of Shares 1,200 800 400 0 31-Aug 0.5

2.9 2.4 1.7 1.3 1.3

3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0

Close 74 1,257 7,614 2,137 606 2,189 2,918

% Change 1 Day MTD (0.6) 0.1 (1.0) (1.3) 1.8 (0.3) 1.3 2.4 0.8 2.5 4.6 4.7 6.0 3.5

YTD (7.2) 14.6 3.7 (2.8) 4.1 (14.5) (0.1)

Aluminum (LME) $/MT






Advance (LHS)

Decline (LHS)

Adv/Decl Ratio (RHS)

Source: Bloomberg, NSE, BSE & SEBI

Source: BSE

Page 1

Corporate News/Results Corner
Ohio bans off shoring of IT projects by government departments (Negative) The US state of Ohio has banned outsourcing of government IT and back office projects to offshore locations such as India, raising fears of similar moves by other American states. TCS employs 300 people and gets $19 mn for creating local jobs. KEC buys US co for $95 mn KEC International will buy US-based SAE Towers Holdings for an enterprise value of $95 mn. The transaction, expected to close this month, will provide KEC entry into the US, Brazil and Mexico. Spice Jet to launch international flights (Positive) Spice Jet has announced commencement of international operations from October, becoming the country’s first dedicated low fare airline to do so. Tata Steel in talks to sell South African unit (Positive) Tata Steel Ltd is looking for a buyer for its South African unit after agreeing to sell its Teesside operations in the UK. BHEL plans project financing arm Bharat Heavy Electricals Ltd plans to set up a financing arm in the form of a non-banking finance company through a joint venture with a financial sector partner. BHEL has started the process to identify a strategic partner for the proposed venture. Man Industries bags Rs 12,000 mn orders (Positive) Man Industries has secured orders worth Rs 12,000 mn from various international and domestic companies such as GAIL. These orders are for supply of about 2,00,000 tonnes of large diameter pipes in Longitudinal Submerged Arc Welded and Helical Submerged Arc Welded segments. Mining companies say no to sharing profits, offer more to royalty fund Mining outfits opposing the Government's proposal to share profits with land losers are now willing to increase their contribution from 10% to 26% to a royalty-linked development fund for the welfare of such displaced persons. State Bank of India to raise Rs 5000mn via retail bonds (Positive) The executive committee of SBI accorded approval for raising Tier II capital by way of public issue of Lower Tier-II bonds for Rs 5000mn with an option to retain 100% oversubscription. Given that deposit rates are firming up and depositors prefer to lock up surplus funds for no longer than three years, retail bonds, which could be of 10-15 years tenure, are the best bet for banks to obtain long-term funds at a mark-up to a benchmark rate. Maruti Suzuki plans 3rd plant at Manesar (Positive) Maruti Suzuki is planning expand its capacity to 1.75 mn units pa by setting up its third plant at Manesar at capex of Rs 19.4 bn ($416 mn). Currently, the company is running at full capacity and capacity expansion demand is on the back of rising demand from domestic market. Karnataka not to extend validity of iron ore transport permit (Negative) The Karnataka government has stuck to its offer of extending the validity of an iron ore transport permit to nine days and declined to consider 12 or 10 days as sought by mining companies. Rio Tinto reportedly cuts Q4 iron-ore prices Anglo-Australian mining giant Rio Tinto Ltd has reportedly agreed to a 13% cut in the price it will receive for its iron ore from Japanese steel makers during the fourth quarter. This implies that globally iron ore contract prices will see a cut of 10-15%. This would be negative for Sesa goa.

Macro Economic and Other News
Marginal hike in fuel prices Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers. Monsoon may start withdrawing from North-West next week The South-West monsoon may start withdrawing from NorthWest India by September 15, behind schedule by as many days per Environmental Prediction (NCEP).

International News
US ABC Consumer Confidence fairs tad better than estimates The US Consumer Confidence index for the week ended Sep 5 came in at -43 vs consensus estimates of -44. Germany factory order data surprises on the negative side The Germany factory order data for the month of July came in at -2.2% m-o-m vs consensus estimates of 0.5%. German growth has been the strong hold of European growth so far and is a key to Europe recovery. Japan machine order fairs better than estimates Japan machine orders growth came in at 8.8% vs consensus estimates of 2%. The yen has continued to strengthen in the exchange market leading to increased pressure on Japanese exports and growth.

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

Page 2

Bulk Deal
Company Apollo Tyres Ltd. Bajaj Auto Finance Ceat Country Club Jai Balaji Inds Jupiter Bioscience Ltd Acquirer Gmo Emerging Market Fund Bajaj Finserv Limited Frank Ind Prima Plus Sanjay Ramesh Kohli N.A. N.A. Rare Enterprises Cavaal Fininvest Pvt Ltd N.A. Seahorse Mercantile Company Private Limited Qty 4410100 1601900 189670 580000 Price Seller 86.7 N.A. 695.0 Copa Cabana 180.0 N.A. 21.2 N.A. Umang Vincom Private Limited Macquarie Bank Ltd-Dr Conversion A/C 1611250 695.0 Qty Price



KRBL Limited Piramal Health
Silverline Anim

1250000 7500000

29.6 N.A. 511.0 Investments Limited
The Swastik Safe Deposit &



N.A. = Not Available Source: BSE & NSE

Vakrangee Soft


The Royal Bank Of Scotland N.V. Morgan Stanley Mauritius 200.0 Company Limited



Insiders Trades
Company Filatex Fashions Ltd Future Capital Holdings Ltd Graphite India Ltd India Infoline Ltd Nimbus Foods Industries Ltd Ramsarup Industries Ltd Sancia Global Infraprojects Ltd Television Eighteen India Ltd Zenotech Laboratories Ltd Source: BSE NSE & Capitaline Acquirer/Seller Nailesh Mehta Shailesh Shirali Lotus Global Investments Ltd Citigroup Global Mkt (Mauritius) Pvt Ltd Chinar Capital Market Pvt Ltd Ashish Jhunjhunwala - Chairman, MD & CEO Shri Hanuman Investments Pvt Ltd T Rowe Price New Asia Fund Dr. Jayaram Chigurupati, MD Bought/Sold B S S S S S S S S Qty 839718 80000 8758895 800000 1000000 300000 1383000 4185580 278820

Note: The above insiders Trades might include ESOPs conversion.

Price Shockers
Gainers Company Madras Cements India Cements Ambuja Cements Ultratech Cem Gujarat NRE Coke ACC Godrej Inds Gujarat Mnrl Mahindra & Mah Fin Balrampur Chini Shree Renuka Sug Moser Baer Grasim Inds Tata Global Beverages
Source: Capitaline

Close Price (Rs)
119 116 136 993 65 963 231 136 626 90 72 68 2195 128 1400

Change Price (Rs)
15 10 10 71 4 60 14 6 28 4 3 3 81 4 45

Change Price (%)
14.1 9.7 7.8 7.7 7.3 6.7 6.3 4.9 4.7 4.6 4.3 4.1 3.8 3.6 3.4

Losers Company Exide Inds Petronet LNG Ranbaxy Lab Koutons Retl Unitech Sterling Bio Max India REI Agro IDBI Bank Allahabad Bank Syndicate Bank Oriental Bank EIH GVK Power Central Bank

Close Price (Rs)
159 114 508 311 82 113 156 21 127 220 114 436 146 49 180

Change Price (Rs)
(4) (3) (11) (7) (2) (2) (3) (0) (2) (4) (2) (7) (2) (1) (3)

Change Price (%)
(2.7) (2.5) (2.2) (2.1) (2.0) (2.0) (2.0) (1.9) (1.8) (1.7) (1.7) (1.7) (1.6) (1.6) (1.6)


Page 3

Event Calendar
• • • • • Sep Sep Sep Sep Sep 08: 08: 08: 08: 08: Japan Trade Balance for July (Actual ¥916.1B Prior ¥769.0B) Japan Machine Orders for July (Actual 8.8% Prior 1.6%) Japan Consumer Confidence for Aug US ABC Consumer Confidence Index for Sept 5 (Actual -43 Prior -45) UK Industrial Production (Expectation 0.4% Prior -0.5%)

Source: Bloomberg

Corporate Actions
Ex Date Company
8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep
Source: NSE

AGM And Dividend Rs.2/- Per Share AGM And Dividend Re.0.90 Per Share AGM And Dividend Rs.14/- Per Share AGM And Dividend Rs.3/- Per Share AGM AGM And Dividend Re.1/- Per Share Bonus 1:1 AGM / Dividend Rs 10 Per Share AGM And Dividend Rs.13/- Per Share AGM AGM And Dividend Re.0.75 Per Share AGM AGM AGM And Dividend Rs.1.50 Per Share Dividend-Rs.2.50 Per Share AGM And Final Dividend Re.0.80 Per Share AGM And Dividend Rs.1.50 Per Share AGM AGM Interim DividendRs.2.40 Per Share AGM And Dividend Rs.1.50 Per Share AGM AGM

Ex Date Company
8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep 8-Sep Shreyas Shipping & Logistics Ltd Salona Cotspin Ltd Ruchira Papers Ltd Eastern Silk Industries Ltd Bajaj Auto Ltd Ahluwalia Contracts (India) Ltd Gujarat State Fertilizers & Chemicals Ltd Alok Industries Ltd Igarashi Motors India Ltd Hindustan DorrOliver Ltd Omnitech Infosolutions Ltd Unichem Laboratories Ltd Britannia Industries Ltd Cox & Kings Ltd OCL India Ltd S.A.L. Steel Ltd TVS Motor Company Ltd Subros Ltd Rajvir Industries Ltd Wockhardt Ltd Gitanjali Gems Ltd The Ugar Sugar Works Ltd TVS Motor Company Ltd

AGM Salona Cotspin Ltd AGM AGM And Dividend Bonus 1:1 AGM And Dividend Re.0.80 Per Share AGM And Dividend Rs.4.50 Per Share AGM And Dividend Re.0.25 Per Share AGM AGM And Dividend Re.0.80 Per Share AGM And Dividend Rs.1.50 Per Share AGM Face Value Split From Rs.10/- To Rs.2/AGM And Dividend Re.1/Per Share AGM And Dividend Rs.4/Per Share AGM Bonus 1:1 AGM And Dividend Re.0.70 Per Share AGM And Dividend Rs.2/Per Share AGM AGM And Final Dividend Rs.2/- Per Share AGM Bonus 1:1

MBL Infrastructures Ltd MMTC Ltd Bharat Petroleum Corpn. Ltd Ambika Cotton Mills Ltd Viceroy Hotels Ltd Salona Cotspin Ltd Dabur India Ltd HEG Ltd Indian Oil Corporation Ltd Golden Tobacco Ltd Star Paper Mills Ltd Abhishek Corporation Ltd NEPC Agro Foods Ltd Technocraft Industries (India) Ltd Garware Wall Ropes Ltd NTPC Ltd JBM Auto Ltd Shah Alloys Ltd Tamilnadu Telecommunication Ltd Precision Wires India Ltd GeeCee Ventures Ltd Malu Paper Mills Ltd Uttam Galva Steels Limited

Board Meetings

SB&T International Limited

Results Dividend

Source: NSE

Page 4

Advisory Group Karun Mutha SVP & Head - Equity & Derivatives Advisory Tel +91-22-67897833 Email: Fundamental Team Supriya Madye Jignesh Shial Hitesh Punjabi Prerna Jhunjhunwala Chetan Thacker Priyanka Rai Quantitative Team Tina Khetan Akshay Bhagwat Nikunj Shah Technical Team Mukesh Singh Rahul Randeria A.SenthilRaj Advisory Support Tony Nawani Ashutosh Desai Vinod Hassija Manager Assistant Manager Assistant Manager 022 67897825 022 67897826 022 67897827 Vice President- Technical Analyst Technical Analyst Technical Analyst 022 67897816 022 67897817 022 39673998 Derivative Analyst Derivative Analyst Derivative Analyst 022 67897828 022 67897830 022 67897827 Designation/Sectors covered AVP Analyst–Auto Cement Infra Analyst–Banking Real Estate Analyst–IT Pharma Analyst–Retail FMCG Capital Goods Associate Analyst–Metal Mining Agri Assistant Manager (Production)

022 39673815 022 39673818 022 39673820 022 39673823 022 39673822 022 39673821 022 39673852

Deepan Sankaranarayanan Analyst–Media Logistics

Page 5

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