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July 17,2006.
On the corporate front:
:arrow: Results today: India Cements, Mid-day. Mah Seamless, TV Today, CMC, Geometric, GAIL, GHCL, Titan and Deepak Fert
:arrow: Reliance Retail eyeing to buy Arvind Brands' Ruff n Tuff apparel
:arrow: Tata Steel loses bid for South Africa's Highveld; Russia's Evraz bags it for USD 687 million
:arrow: Aurion Pro close to acquiring US based firm - BS
:arrow: Birla VXL board approves 4:7 rights issue at Rs 10 per share
:arrow: Crew BOS allotted 30 acres of land by Rajasthan State Development; company says exploring options of making debut in retail
:arrow: 74.64 crore Unitech shares issued ad bonus to hit markets today
:arrow: Nirma closes in on US acquisition, likely to acquire Linear Alkyl Benzene manufacturing firm - ET
:arrow: Essar Oil is set to reopen 300 odd closed pumps as dealers threatened to walk out of the agreement - ET
:arrow: RIL plans Rs 2000 crore (Rs 20 billion) Mumbai IT park, no out of court settlement with NTPC - BS
:arrow: Govt plans to give domestic airliners free hand in pricing tickets - BS
:arrow: Vodafone open to the idea of increasing stake in Bharti Airtel - BS
:arrow: Govt may lift ban on sugar exports in October, record output of 22 mt likely this season - BL
:arrow: Bajaj Auto Q1:
->Net sales up by 35% to Rs 2202.7 crore from Rs 1634.2 crore
->Net profit up 27.28% to Rs 266 crore from Rs 208 crore
->OPM at 16.34% versus 15.8%
:arrow: Gruh Finance Q1
->Net profit at Rs 3.19 crore versus Rs 2.40 crore
->Net sales at Rs 28.5 crore versus Rs 19.9 crore
:arrow: Aban Lloyd Q1:
->Net profit at Rs 19.1 crore versus Rs 20.6 crore
->Net sales at Rs 123.8 crore versus Rs 121.8 crore
->OPM at 53.7% versus 56.8%
:arrow: Sakthi Sugars Q4:
->Net profit at Rs 35.9 crore versus Rs 1.74 crore
->Net sales at Rs 299.5 crore versus Rs 219.3 crore
->OPM at 25% versus 13.7%
:arrow: McDowell Q1:
->Net profit at Rs 34.7 crore versus Rs 10.4 crore
->Net sales at Rs 533.5 crore versus Rs 326.4 crore
->OPM at 14.1% versus 10.1%
:arrow: GNFC Q1:
->Net profit at Rs 47.1 crore versus Rs 61.4 crore
->Net sales at Rs 431 crore versus Rs 314 crore
->OPM at 20.7% versus 24.8%
->Optg profit at Rs 89.2 crore versus Rs 77.8 crore
->Other income at Rs 5 crore versus Rs 40 crore
:arrow: GSFC Q1:
->Net profit at Rs 50 crore versus Rs 70 crore
->Net sales at Rs 449 crore versus Rs 425 crore
->OPM at 16.5% versus 24.2%
:arrow: Gujarat Alkalies Q1:
->Net profit at Rs 42.6 crore versus Rs 63.2 crore
->Net sales at Rs 241.8 crore versus Rs 246.4 crore
->OPM at 34.3% versus 48.6%
:arrow: Madras Aluminium Q4:
->Net profit at Rs 35 crore versus Rs 9.68 crore
->Net sales at Rs 130 crore versus Rs 103 crore
->OPM at 44.8% versus 21.1%
->FY06 EPS at Rs 37
:arrow: Micro Inks Q1:
->Net loss at Rs 13.7 crore versus profit of Rs 22.8 crore
->Net sales at Rs 233.7 crore versus Rs 206.9 crore
->OPM at 1.77% versus 15.7%
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July 17, 2006. Markets Bearish.
BSE Indices:
Sensex-> 10293.22 (385.00 points, 3.61%).
BSE100-> 5208.63 (190.56 points, 3.53%).
BSE500-> 3892.73 (131.88 points, 3.28%).
BSE Auto-> 4341.63 (198.66 points).
BSE Bank-> 4144.62 (119.77 points, 2.81%).
BSE Cap Goods-> 6722.01 (221.55 points).
BSE FMCG-> 1906.91 (58.32 points).
BSE Health-> 3029.06 (89.15 points).
BSE Metal-> 7989.19 (319.74 points).
BSE Midcap-> 4265.94 (88.14 points, 2.02%).
BSE Oil & Gas-> 5061.43 (208.86 points).
BSE PSU-> 4688.56 (225.38 points, 4.59%).
BSE SmallCap-> 5175.91 (115.19 points, 2.18%).
BSE TECk-> 2512.20 (85.44 points).
NSE Indices:
Nifty-> 3007.55 (116.75 points, 3.71%).
CNX Midcap 100-> 3785.15 (92.50 points).
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SENSEX:
Day's High: 10647.26.
Day's Low: 10262.56.
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Mkts down amid geopolitical tensions: Sensex below 10300
The markets saw a sharp fall due to heavy indiscriminate selling in scrips across sectors. The markets across the globe have seen weakness but the Indian markets have taken a harder knock as compared to its Asian peers. The massive fall can be attributed to the geopolitical concerns and rising crude oil prices.
The Sensex closed below the 10300 mark and the Nifty just above the 3000 mark. It was the biggest single-day loss for Sensex since June 13. On the macroeconomic front, the rupee has slipped to 37 month low of 46.58/$.
:arrow: The Sensex finally closed at 10,293.22 down by whooping 385 points.
:arrow: The Nifty closed at 3008 down 116 points.
:arrow: The BSE Small Cap Index closed at 5,175.91, down 115.19 points.
:arrow: The BSE Midcap Index ended at 4,265.94, down 88.14 points.
:arrow: All the BSE sectoral indices closed in red. Among the major laggards were auto, oil and gas, metal and capital goods.
Markets today:
:arrow: Biggest single-day loss for Sensex since June 13 amid geopolitical tensions
:arrow: Rupee hits new 37 month low at Rs 46.63
:arrow: Sensex down 385 points or 3.6% at 10293.22
:arrow: Nifty down 3.7% or 115.80 points at 3007.55; slips below 3000 intra-day
:arrow: All BSE Sectoral Indices end in the red
:arrow: BSE Auto Index down 4.4%; Tata Mot down 5.8%, Maruti down 5.1%
:arrow: BSE Oil & Gas Index down 4%; ONGC slides 7.1%, RIL down 3.1%
:arrow: BSE Metal Index down 3.8%; Sterlite down 5.4%, Hindalco down 4.5%
:arrow: CNX Midcap Index down 2.4%, BSE Small-cap Index down 2.2%
:arrow: NSE Advance-Decline ratio at 1:5
:arrow: Total market turnover at Rs 28716.67 cr Vs Rs 31134.63 cr on Friday
:arrow: The Auto index closed at 4,341.63 down 4.38%. M&M, Escorts, Tata Motors, TVS Motor, Ashok Leyland and Cummins closed lower.
:arrow: The BSE Oil and Gas Index closed down 3.96% at 5,061.43. ONGC, GAIL, IOC and Petronet LNG were among the losers.
:arrow: The BSE Metal Index was down 3.85% at 7,989.19. Sterlite Ind, Sesa Goa, Hindalco, SAIL and JSW Steel witnessed selling pressure.
:arrow: The BSE Capital Goods Index down 3.2% at 6,722.01. Bharat Elec, Aban LoydChiles, Gammon India, Siemens and Praj Industries closed lower.
:arrow: The BSE FMCG Index was down 2.97% at 1,906.91. Colgate, Shaw Wallace, HLL and Britannia closed in red
:arrow: The BSE IT Index was down 2.9% at 3,820.38. Satyam, I-Flex Solution, HCL Info and Patni Computer moved down.
:arrow: The BSE Health care index was down 2.86% at 3,029.06. Dr Reddys Labs, Ranbaxy Labs, Cipla, Lupin and Sun Pharma slipped.
:arrow: The BSE Bankex was down 2.8% at 4,144.62. Bank of India, SBI, Oriental Bank, UTI Bank and PNB were among the losers.
:arrow: The BSE Consumer Durables Index lost 2.25% at 2,692.96. Titan Industries, Blue Star and Su-Raj Diamonds lost ground
:arrow: The NSE cash turnover was at Rs 5015.46 crore and the NSE F&O turnover was at Rs 21283.04 crore. The BSE cash turnover was Rs 2418.17 crore. Total market wide turnover was at Rs 28716.673 crore.
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July 18, 2006. Another Red day.
SENSEX-> 10226.78 (66.44 points, 0.65%).
NIFTY-> 2993.65 (13.90 points, 0.46%).
SENSEX:
Day's High: 10406.43.
Day's Low: 10149.85.
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July 21, 2006.
SENSEX-> 10085.91 (267.03 points, 2.58%).
NIFTY-> 2945.00 (78.05 points, 2.58%).
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SENSEX:
Day's High: 10336.38.
Day's low:10085.91.
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July 21, 2006.
Reliance ADAG plans world's largest power plant
Reliance Anil Dhirubhai Ambani Group on Friday unveiled a grand spending plan of over Rs 60,000 crore (Rs 600 billion) in Orissa, which included an investment blueprint for the world's largest pithead thermal power plant.
The 12,000 MW coal-fired plant is expected to be set up at Hirma in Jharsuguda district in phases, ADAG Chairman Anil Ambani said at the state secretariat in Bhubaneswar after a meeting with Chief Minister Naveen Patnaik.
"I have no doubt in my mind that Orissa with its coal reserves will be the power capital of the entire country. Over the next few decades, Orissa will have its rightful place (as a developed state) in India," he said.
Ambani said the outlay for the power plant would be in excess of Rs 50,000 crore (Rs 500 billion), while another Rs 10,000 crore (Rs 100 billion) would be invested for transmission and evacuation of the power generated.
"It will represent the largest investment in power sector anywhere in the world," he said, adding a 4,300 MW coal-fired plant in South Africa was the largest thermal unit at a single location at present.
ADAG's spending plan is also the largest for any project by a group in the country and beats the Rs 52,000 crore (Rs 520 billion) investment proposal of South Korean steel giant Posco and the Rs 30,000-40,000 crore (Rs 300-400 billion) steel plant plan of Mittal Steel - both in Orissa.
Besides Rs 60,000 crore for the power plant and allied works, the group would be investing in a health city, IT and IT related infrastructure in the state.
The health city would comprise a hospital and infrastructure for medical education and research near the capital city, he said.
Ambani said his company proposed to invest Rs 1,000 crore (Rs 10 billion) separately for communication and IT sector and another Rs 500 crore (Rs 5 billion) in the health sector.
The company would first set up a 4,000 MW plant at Hirma, which would be progressively expanded by adding 1,000 MW to the capacity.
"This will be the engine of growth and catalyst for future industrial development... I am looking forward to working with the Orissa government," Ambani said.
Asked to outline a timeframe for the Hirma project, he said as the basic approvals including environmental clearance would take time, the work is expected to begin within six to 12 months.
It would require about four to five years to set up the 4,000 MW plant. "No one has attempted this so far and we are pursuing a fast-track approach."
Replying to questions, Ambani said his company was committed to work within the policy framework of the state. "We need a converged path to reach solutions," he remarked.
As regards the question of displacement, he said the government had a comprehensive rehabilitation and resettlement policy in place as also a policy on environmental protection.
As regards the question of displacement, he said: "We will explain to the people. We will not be able to move forward without the cooperation and appreciation of the people."
When asked why REL was not harnessing atomic energy for power generation as coal is considered a serious pollutant, Ambani said his company was awaiting amendment to the comprehensive Atomic Energy Act.
"But India's energy solutions need a multi-track approach and one single track will not help. We have to tap hydro, thermal, atomic, wind and solar resources to meet the requirement," he said.
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July 24, 2006.
Bank stocks lead the rally. SENSEX, NIFTY recovered.
Small cap & Midcap index still end RED.
SENSEX-> 10215.37 (129.46 points, 1.28%).
NIFTY-> 2985.85 (40.85 points, 1.39%).
BSEBANKEX-> 4388.67 (202.20, 4.83%).
BSEMIDCAP-> 4012.48 (18.34 points, 0.45%).
BSESMLCAP-> 4758.26 (56.46 points, 1.17%).
CNX Midcap100-> 3640.15 (75.85 points).
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July 24, 2006.
Sensex:
Day's high: 10252.75.
Day's low: 9875.35.
