04-June-09 News Headlines

Corporate News Headline

•HPCL is planning to invest Rs. 6.14 bn in the two sugar mills it had bought in Bihar to manufacture ethanol. (BS)
•Jaihind Projects has received an order of Rs. 2.31 bn and Rs. 148.4 mn from Gujarat State Petronet Ltd. (BS)
•BHEL has bagged Rs. 3.75 bn order from Oman for supplying and erection of two gas turbine generating units of 126 MW each. (BS)


Economic and Political Headline

•As exports dipped by 30% in May -- extending the fall to eighth month in a row -- the government reviewed the grave situation with top exporters promising them incentives. (BS)
•Service industries in the US shrank to 44, at a slower pace in May, while job losses mounted, indicating that any economic recovery will be slow to develop. (Bloomberg)
•The UK service industries from banks to airlines unexpectedly grew 51.7 in May, the first time in a year, adding to evidence the deepest recession in a generation may be past its worst. (Bloomberg)
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3-June-09 News Headlines

Corporate News Headline

•HDIL has entered into a joint venture with Mumbai Metropolitan Region Development Authority for the development of 525 acre of land under rental housing scheme at Virar. (BS)
•Infosys Technologies has incurred a capital expenditure of Rs. 630 mn in its three loss-making subsidiaries in China, Mexico, and the US. (BS)
•SBI is planning to raise Rs. 280 bn from bonds to meet regulatory capital requirement and to fund business growth during the current fiscal. (BS)


Economic and Political Headline

•The Minister for Micro, Small and Medium Enterprises Dinsha Patel said that the government will address the credit needs of the tiny and small firms, while a separate fund for enterprises in the unorganised sector is proposed. (BS)
•The number of Americans signing contracts to buy previously owned homes climbed 6.7% in April, more than forecast and the fourth increase in five months, as lower prices attracted buyers. (Bloomberg)
•The UK mortgage approvals rose 43,201 in April, compared with 40,038 in March, the highest level in a year, underpinning demand for homes as the property-market slump shows signs of easing. (Bloomberg)
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2-June-09 News Headlines

Corporate News Headline

•Maruti Suzuki India reported a 15.75% jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year. (BS)
•Parsvnath Developers is planning to invest Rs. 7 bn to develop a premium luxury housing project at Civil Lines in the national capital and expects a realisation of about Rs. 13 bn in three fiscals. (BS)
•Sun Pharmaceuticals is planning to spend Rs. 3.32 bn in research & development of low-cost version of original drugs to be sold in domestic and global markets. (ET)


Economic and Political Headline

•The global downturn has taken the wind out of the sails of India's exports, which fell the most in 14 years in April, by 33.2%, over the same month last year, while domestic slowdown led to imports dropping by 36.6% in the same period. (BS)
•The US factory index rose to 42.8, the highest level since September, from 40.1 in April, spurred by the first gain in new orders since the recession began, a sign companies are increasingly confident the slump will end this year. (Bloomberg)
•The UK manufacturing index rose to 45.4 from 43.1 in May, more than economists forecast and to the highest in a year, adding to signs that the recession may be past its worst. (Bloomberg)
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1-June-09 News Headlines

Corporate News Headline

•Power Grid Corporation of India has bagged Rs. 10.33 bn worth transmission project from Punjab State Electricity Board. (BS)
•BHEL has signed an MoU worth Rs. Rs 18.5 bn with SAIL for supply of steel materials like flats and long products. (BS)
•Anant Raj Industries is planning to raise Rs. 20 bn by issuing securities, including ADRs and FCCBs, to qualified institutional buyers on a private placement basis. (BS)

  
Economic and Political Headline

•Braving the global recessionary trends, India managed 6.7% economic growth in 2008-09. (BS)
•The UK house prices unexpectedly jumped 1.2% in May, matching the biggest gain since 2006, displaying signs of an easing property market slump. (Bloomberg)
•Japan's consumer prices fell 0.1% for the second month in April, adding to signs that the recession will herald a return to deflation. (Bloomberg)
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29-May-09 News Headlines

Corporate News Headline

•Siemens is planning to invest Rs. 2.75 bn to expand its steam turbine facility at Vadodara. (ET)
•BOC India has decided to invest Rs. 10 bn in enhancing its installed capacity in the next three years. (ET)
•Dewan Housing Finance Corporation is planning to issue non-convertible debentures worth up to Rs. 10 bn in July to meet its credit disbursal targets for the current financial year. (BS)


Economic and Political Headline

•The Prime Minister Manmohan Singh indicated that the full Budget for 2009-10 may announce a disinvestment of government stake in public sector companies. (ET)
•Inflation remained unchanged at 0.61% for the week ended May 16 in comparison to the previous week. (BS)
•General Motors Corp. is planning to file for bankruptcy protection on June 1 and sell most of its assets to a new company. (Bloomberg)
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28-May-09 News Headlines

Corporate News Headline
•BHEL reported Q4'09 result, net sales increased 35.4% yoy to Rs. 162.34 bn, and net profit rose 21.35% yoy to Rs. 13.47 bn. (BS)
•IVRCL Infrastructure & Projects has bagged Rs. 3 bn order, awarded by the Government of Bihar, Public Health Engineering Department. (BS)
•Simplex Projects has got a project from the PWD Department, government of Tripura for construction of bridges over rivers under different packages for Rs. 1.13 bn. (BS)


Economic and Political Headline

•The Finance Minister Pranab Mukherjee said that the government would continue to rely on market borrowings to spur economic growth and restore the growth momentum witnessed earlier. (BS)
•Concerned over high credit cost and availability of funds, the Finance Minister Pranab Mukherjee said that he would ask banks for a "benign plan of action" while committing to stimulate economic growth by stepping up public expenditure and speeding up reforms.(BS)
•Home resales in the US rose 2.9% to an annual rate of 4.68 million in April, the second time in three months, as foreclosure auctions and cheaper prices spurred bargain hunters, buttressing the case for an end to the industry's slump this year. (Bloomberg)
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27-May-09 News Headlines

Corporate News Headline

•Tata Communications reported Q4'09 result, net revenue increased 3.67% yoy to Rs. 8.87 bn, and net profit rose five-fold yoy to Rs. 3.02 bn. (BS)
•SAIL, NMDC, and RINL are planning to infuse Rs. 130 bn this fiscal as part of their programme to expand production capacities to about 35 MT in the next two-three years. (BS)
•Unitech has sold a hotel in Gurgaon for Rs. 2 bn and is close to selling another hospitality project by June-end for a similar amount, as part of its exercise to raise funds for reducing debt. (BS)


Economic and Political Headline

•Promising all "appropriate measures" for the economy, the Finance Minister Pranab Mukherjee said that the government would take a fresh look at fiscal deficit as it has crossed the previously self-imposed ceiling. (BS)
•The confidence among the US consumers jumped to 54.9 in May, the most in six years, fueling speculation the economy will recover later this year. (Bloomberg)
•European industrial orders declined 26.9% from a year earlier in March as the worst recession in more than six decades curtailed global demand for machines and equipment. (Bloomberg)
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25-May-09 News Headlines

Corporate News Headline
•ITC reported Q4'09 result, net income dipped 2.84% yoy to Rs. 39.27 bn, but net profit rose of 9.97% yoy to Rs. 8.09 bn. (BS)
•NTPC reported Q4'09 result, net sales increased 6.54% yoy to Rs. 114.45 bn, and net profit rose of 57.77% yoy to Rs. 21.13 bn. (BS)
•Era Infra Engineering bagged an order worth Rs. 1.17 bn from Aravali Power Company for developing a permanent township at the Indira Gandhi Super Thermal Power Project in Haryana. (BS)


Economic and Political Headline

•The RBI said that the new UPA government, which is slated present the Budget some time in July, should resist pressure for another stimulus as sustained economic recovery would require fiscal consolidation in medium term. (ET)
•Treasury Secretary Timothy Geithner called for major changes in compensation practices at financial companies and said the Obama administration's plan to help realign pay with performance will be rolled out by mid-June. (Bloomberg)
•The UK's Gross domestic product dropped 1.9% in the period, the most since 1979, as consumer spending slumped the most since 1980 and companies ran down inventories at a record pace in the first quarter. (Bloomberg)
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Ministers of India after Election 09

Shri Pranab Mukherjee : Minister of Finance
>Shri Sharad Pawar : Minister of Agriculture
Minister of Food & Civil Supplies
Minister of Consumer Affairs & Public Distribution
>Shri A. K. Antony : Minister of Defence
>Shri P. Chidambaram : Minister of Home Affairs
>Kum. Mamata Banerjee : Minister of Railways
>Shri S. M. Krishna : Minister of External Affairs
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22-May-09 News Headlines

Corporate News Headline
•Bajaj Auto reported Q4'09 result, total income dipped 2.51% yoy to Rs. 88.14 bn, and net profit declined of 28.52% yoy to Rs. 5.35 bn. (BS)
•Reliance Power is planning to invest over Rs. 120 bn for executing 2,520-MW hydro power projects in Arunachal Pradesh, to be commissioned in the next Five Year Plan. (BS)
•Areva T&D India has secured Rs. 1.1 bn contract to set up a 400 kilo-volt sub-station in Kharagpur from the West Bengal State Electricity Transmission Company Limited. (BS)


Economic and Political Headline

•Driven by the rising prices of essential food items like cereals, tea, spices and fruit and vegetables, inflation inched up to 0.61% for the week ended May 9. (BS)
•The US Conference Board's leading economic gauge increased 1% in April, more than forecast and a manufacturing gauge improved in signs the deepest recession in five decades could end later this year. (Bloomberg)
•Treasury Secretary Timothy Geithner said the Obama administration is committed to reducing the federal budget deficit to 3% of the GDP after concerns rose that the US debt rating may eventually be threatened with a downgrade. (Bloomberg)
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Inflation for the week

INFLATION 0.61%
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21-May-09 News Headlines

Corporate News Headline

•PNB reported Q4'09 result on standalone basis, total income went up 38% yoy to Rs. 60.98 bn, and net profit rose of 59% yoy to Rs. 8.65 bn. (BS)
•RIL has got the government go-ahead to sign agreements with firms supplying the much-needed gas to households and car owners in major cities. (BS)
•Tata Motors, which needs to refinance early next month a bridge loan worth USD 2 bn taken for purchase of Jaguar and Land Rover, is planning to raise Rs. 42 bn worth of fresh debt. (BS)


Economic and Political Headline

•World steel psroduction fell nearly 24% in April, reflecting the recessionary pressure in the West, but India bucked the trend recording about 3% growth in output of the key industrial intermediary. (BS)
•Treasury Secretary Timothy Geithner said he's inclined to "quickly" sell warrants the government got when injecting capital into banks, offering prospects of a speedy exit to lenders seeking to retire government stakes. (Bloomberg)
•Japanese economy shrank at a staggering pace of 4% in the first three months of 2009, as the country continues to experience the jitters of the global financial turmoil. (BS)
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20-May-09 Settlement Prices

Today's Settlement Prices :: Gold 14333 :: Silver 22267 :: Copper 221.65 :: Lead 69.10 :: Nickel 594 :: Zinc 70.50 :: Crude Oil 2932 :: Natural Gas 193.40 :: CPO 381.20 :: HO 73.15 :: SO 501.55 :: INR 47.48
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Us & Asia flat

Dow & Nasdaq is down flat
Asian market also flat
Sgx nifty down by 66 points trading at 4250
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Sgx Nifty Updates

Singapore Sgx Nfity trading at 4250
Down by 66 points
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20-May-09 News Headlines

Corporate News Headline

•L&T has bagged three orders worth Rs. 5.18 bn for execution of power transmission and infrastructure related projects in Oman. (BS)
•Unitech are looking to raise their stake by about 10% in the company by subscribing to warrants worth about Rs. 10 bn over the next 18 months. (BS)
•Dr Reddy's Laboratories is planning to invest about Rs. 7.5 bn in setting up two special economic zones- one in Visakhapatnam and another in Hyderabad. (BS)


Economic and Political Headline

•Indian Prime Minister-elect Manmohan Singh vowed to revive growth and spread the benefits of economic expansion that swept his coalition back to power with a decisive mandate in a general election. (BS)
•Builders broke ground on the fewest homes in the US on record in April as a 13% plunge to an annual rate of 458,000 in condominiums and apartment buildings overwhelmed the second straight gain in starts on single-family dwellings. (Bloomberg)
•The UK consumer prices rose 2.3% from a year earlier in April, which is to the weakest level in 15 months as the recession undermined price pressures in the economy. (Bloomberg)
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19-May-09 News Headlines

Corporate News Headline

•Dr. Reddy reported Q4'09 results, total income increased 12.36% yoy to Rs. 11.66 bn, but net profit declined 3.76% yoy to Rs. 1.56 bn. (BS)
•Apollo Tyres has concluded acquisition of Dutch company Vredestein Banden B.V. through a special purpose vehicle. (BS)
•Gujarat NRE Coke is planning to ramp up production in its two Australian coking coal mines from 0.8 MT in 2008-09 to 2 MT this fiscal. (ET)


Economic and Political Headline

•The Former Commerce Minister Kamal Nath has said that he was optimistic about the GDP growth rate of 8% for this fiscal year. (BS)
•The confidence among the US homebuilders in May increased to 16 from 14 the prior month, the highest level since September, providing further evidence that the housing slump that started in 2006, may be closer to a floor. (Bloomberg)
•Treasury Secretary Timothy Geithner ruled out setting specific limits for compensation as the Obama administration considers proposals to better align executives' pay with companies' long-term performance. (Bloomberg)
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18-May-09 News Headlines

Corporate News Headline

•GTL has won a Rs. 3.24 bn order from Maharashtra State Electricity Distribution. (BS)
•Ahluwalia Contracts India has bagged a contract worth Rs. 2.19 bn from National Building Construction. (BS)
•MTNL has earmarked Rs. 17.25 bn capital expenditure plan for the current fiscal. (BS)


Economic and Political Headline

•Riding on a strong performance in game-changing states, the Congress powered the UPA for another term in office with the coalition close to majority in the Lok Sabha without the need for allies like the Left parties. (BS)
•Industrial production in the US contracted 0.5% in April, the least since October and New York's manufacturing slump eased further in May, signaling the recession's grip is loosening. (Bloomberg)
•Europe's economy contracted 2.5% from the fourth quarter, at the fastest pace in at least 13 years in the first quarter as companies cut output and jobs to survive the worst global slump in more than six decades. (Bloomberg)
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15-May-09 Settlemet Prices

Today's Settlement Prices :: Gold 14829 :: Silver 22714 :: Copper 221.70 :: Lead 72.60 :: Nickel 610.10 :: Zinc 72.65 :: Crude Oil 2812 :: Natural Gas 205.20 :: CPO 396.70 :: HO 70.55 :: SO 506.10 :: INR 49.30 & Next Crude Oil 2853
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15-May-09 Performance Sheet

Today Performance
-Tisco Fut bough at 269 high made 275.8 lot size 1525 profit atleast 7500
-Maruti Fut bought at opening 848 high 859 lot size 800 profit atleast 8000
-Rel Capital Fut bought at 581 high made 600 lot size 552 profit atleast 8500
-3i Info Buy in cash at 61 high made of 63.20 profit atleast 2000 with 1000 qty
-No BTST or STBT Position
-So todays total profit atleast 26,000 in a day (with fee as little as 1000)
Those who book profit early then also profit of 12,000 atleast (base on our client reports)
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Be cautions, trade less

KINDLY TRADE LESS OR BOOK SMALL PROFITS TIME TO TIME..TODAY WEEKEND & ELECTIONS RESULTS COMING SOON..SO BE CAUIONS AT HIGH..3630 BELOW NIFTY FUT WEAK ONLY
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Gtl got order from msedcl

GTL GOT 324 CR ORDER FROM MSEDCL
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Ranbaxy New Plant

Ranbaxy Plans starting operations in new plants in india & south africa this year, also to supply raw materials for anti ulcer drug for astrazeneca
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World market update

All world market is up, asia is up, sgx nifty up by 28 points, trading at 3640, but due to election results be careful
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Singapore Nifty Update

Singapore / sgx nifty up by 28 points trading at 3640
All asian markets are up
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Nifty Levels

NIFTY SUPP@3520-50-90 RESIS@3650-80
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15-May-09 News Headlines

Corporate News Headline

•NTPC has signed a Rs. 85 bn loan agreement with State Bank of India to fund its upcoming power projects. (ET)
•DLF is planning to raise about Rs. 100 bn over two to three years from selling businesses and land. (Bloomberg)
•BHEL has bagged an order worth Rs. 14.75 bn for a 600 MW thermal power plant in Chattisgarh. (ET)
  

Economic and Political Headline

•After rising for three consecutive weeks, inflation fell to 0.48% for the week ended May 2, even as essential food items like pulses, cereals, and vegetables ruled high. (BS)
•Initial jobless claims in the US rose by 32,000 to 637,000 in the week ended May 9, because of the Chrysler LLC bankruptcy that is likely to reverberate through the economy for months. (Bloomberg)
•The spending on factories and properties in China surged 30.5% in the first four months from a year earlier, as China's USD 585 bn stimulus plan and record bank lending triggered the nation's economic recovery even as exports plunge. (Bloomberg)
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14-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14833 :: Silver 22827 :: Copper 222.95 :: Lead 71.75 :: Nickel 622.10 :: Zinc 73.55 :: Crude Oil 2868 :: Natural Gas 211.90 :: CPO 400 :: HO 73.85 :: SO 509 & INR 49.77

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Sbi amendment act

Govt to pass SBI amendment Act in Parlianment. After this act SBI and SBI subsidairies can issue bonus shares. Posivite for SBI and its Subsidairies like SBM , SBT
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Inflation for this week

The benchmark figure for this week is 0.48% as compared to 0.70% last week.
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Sgx Nifty

Sgx nifty down by 76 points
Cmp 3560 level
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14-May-09 News Updates

Corporate News Headline

•DLF said that some of the promoter members sold 168 mn shares of the company to the institutional players for Rs. 38.6 bn in an open market transaction. (BS)
•TCS has won a five-year contract to provide IT services to Volkswagen Group UK, a unit of Volkswagen AG. (BS)
•ONGC is planning to invest about Rs. 90 bn over the next 3-4 years to enhance oil and gas output as part of phase II redevelopment of its Mumbai High field on India's Western Offshore. (BS)


Economic and Political Headline

•The RBI Governor Duvvuri Subbarao said that banks have more room to lower their lending rates after aggressive rate cuts by the central bank since last October. (ET)
•Retail sales in the US unexpectedly dropped 0.4% in April followed a revised 1.3% percent drop in March, indicating that rising unemployment is prompting consumers to conserve cash. (Bloomberg)
•The Bank of England said the UK economy faces a "slow" recovery and inflation will probably stay below its target for the next three years as the country struggles to escape the worst recession since the 1980s. (Bloomberg)
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13-May-09 Mcx Settlement Prices

Today's Settlement Price 14897 :: Silver 22941 :: Copper 224.35 :: Lead 71.50 :: Nickel 620.40 :: Zinc 72.65 :: Crude Oil 2909 :: Natural Gas 220.60 :: CPO 407.60 :: HO 74.15 :: SO 516.15 & INR 49.70
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BOOKIES-ELECTION2009

BOOKIES-ELECTION2009===BJP--158,,,CONGRESS==108--118,,BSP--30,,SP--18.,,JDU--22,,AIDMK.GROUP--28,,TMC--12,,BJD--8,,TDP--18,,,TALANGANA-6,,PRP-3,,RJD--6,,LJP-2,,CPI..CPM---43,,AKALI--6,,INALO--3,,AJIT-3,,DMK--10,,NCP--9,,SHIVSENA--14,,MNS-1,,JMM-1,,AJP-4,,OTHERS--25-35,,INDP--7
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Bookies report election 2009 : just fun

will be post after 5 pm

13-May-09 News Updates

Corporate News Headline

•Kotak Mahindra Bank reported Q4'09 results, total income increased 49.47% yoy to Rs. 11.33 bn, but net profit declined 12.26% yoy to Rs. 2.11 bn. (BS)
•KEC International bagged orders worth Rs. 1.11 bn from within the country as well as abroad. (BS)
•JSW Steel said it has no plans to sell its US-based units even as mills are operating at only 10%-15% of their production capacity amid waning demand on account of the economic crisis. (BS)


Economic and Political Headline

•Industrial production declined 2.3% in March as compared to a rise of 5.5% during the corresponding month in 2008. (BS)
•The home prices in the US dropped 14%, the most on record in the first quarter from a year earlier, led by California and Florida, as banks sold foreclosed properties. (Bloomberg)
•The UK unemployment jumped 244,000 in the three months through March to 2.22 mn, the most since 1981 as the recession forced companies from carmakers to banks to cut workers. (Bloomberg)
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12-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14697 :: Silver 23049 :: Copper 228.50 :: Lead 71.95 ::Nickel 643.60 :: Zinc 75.10 :: Crude Oil 2907 :: Natural Gas 216.30 :: CPO 405.80 :: HO 74.35 :: SO 505.25 :: INR 49.31
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IIP data

INDIA\'S MARCH INDUSTRIAL PRODUCTION FALLS 2.3% FROM YEAR AGO
10 Lakhs nifty got sold @ 3572
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12-May-09 News Headlines

Corporate News Headline

•SBI reported Q4'09 results, total income increased 32.67% yoy to Rs. 764.79 bn, and net profit rose 45.62% yoy to Rs. 27.42 bn. (BS)
•ONGC is planning to invest Rs. 60 bn in new and existing fields in this fiscal to raise output. (BS)
•Gujarat NRE Coke has secured a USD 50 mn long-term loan from international banks for its coal mining facility in Australia. (BS)


Economic and Political Headline

•The domestic car sales showed their upward trend for the third consecutive month with April sales, registering 4.2% growth after prolonged decline that started in the second half of 2008. (BS)
•The Prime Minister Manmohan Singh said that India's economy grew an estimated 6.5% in the just-ended 2008/09 fiscal year and consumer price inflation is expected to moderate in five to six months. (Reuters)
•China's new lending cooled in April, easing concern that banks are taking on too much risk in a credit boom after the government dropped restrictions on loans in November. (Bloomberg)
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11-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14570 :: Silver 22624 :: Copper 228.70 :: Lead 71.05 :: Nickel 641.60 :: Zinc 75.30 :: Crude Oil 2875 :: Natural Gas 212.90 :: CPO 401.90 :: HO 74 :: SO 499.90 :: INR 49.51
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Sgx Nifty Updates

Sgx nifty up by 14 points
Cmp 3641
All asian markets are up
But not in deep green
Up by around 0.40% only
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News Updates 11-May-09

Corporate News Headline

•Cairn India will begin producing crude oil from its prolific Rajasthan fields by the month-end if it gets approval from partner ONGC for field investments and if the Government is able to find buyers for the oil. (BS)
•Deep Industries bagged two contracts worth Rs. 230 mn from ONGC. (BS)
•GMR Infrastructure is planning to raise up to USD 1 bn to fund growth. (BS)


Economic and Political Headline

•The inflation rate marginally rose to 0.7% for the week ended April 25. The rise is primarily a result of increase in prices of manufactured products. (BS)
•Payrolls in the US shrank by 539,000, after a 699,000 loss in March, the least since October last month as employers detected signs the worst of the recession had passed and government hiring stepped up for the country's next census. (Bloomberg)
•The UK producer prices rose 0.6%, the most in 10 months in April after the government raised taxes and costs of petroleum products and motor vehicles increased. (Bloomberg)
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News Updates 9-May-09

News Update for 09-05-2009:-

Japan confirmed its first cases of swine flu Saturday in three people who recently returned from Canada, even as the disease's spread appeared to slow in the rest of the world.Health and Welfare Minister Yoichi Masuzoe said the three Japanese were quarantined upon arrival in Tokyo after testing positive in preliminary checks performed on all travelers flying from countries hit by the virus.
http://online.wsj.com/article/SB124184218109303271.html <http://online.wsj.com/article/SB124184218109303271.html>

Corus, a unit of Tata Steel, announced that some big buyers of slab had terminated an offtake agreement for its Teesside Cast Products (TCP) plant, putting under cloud the future of the plant. The world's sixth-largest steelmaker said it might have to mothball TCP, in northeast England, which employs 1,920 people.
<http://www.business-standard.com/india/news/corus-plant-in-uk-faces-closure/357558/> http://www.business-standard.com/india/news/corus-plant-in-uk-faces-closure/357558/

State Bank of India (SBI), the country's largest bank, may review interest rates on deposits by May-end. "We will review interest rates at May-end. In general, there seems to be a trend of softening interest rates on the deposit side," said Chairman and Managing Director O P Bhatt on the sidelines of the inauguration of an inward remittance cell in Kolkata on Friday.

<http://www.business-standard.com/india/news/sbi-may-review-deposit-rates-by-month-end/357544/> http://www.business-standard.com/india/news/sbi-may-review-deposit-rates-by-month-end/357544/

Singapore-based lender DBS Bank today sold off its entire stake in HDFC Bank, while Deutsche Securities Mauritius picked up 3.78 million shares in the country's second largest private sector bank. "We have divested our 2.7 per cent stake in HDFC, a portfolio investment, as we believe that this is an opportune time to divest the shares," a DBS spokesperson said. Sources said that the sale did not reflect diminished interest in India and DBS would go ahead with its plans for the country.

<http://www.business-standard.com/india/news/dbs-exits-hdfc-bank-deutsche-sec-steps-in/357540/> http://www.business-standard.com/india/news/dbs-exits-hdfc-bank-deutsche-sec-steps-in/357540/

Crisil has downgraded its rating on Reliance Infrastructure's long-term debt on concerns of business restructuring and the resultant restriction in cash flow. The Indian subsidiary of credit rating firm Standard and Poor's, Crisil, has lowered the rating to AA+/Negative from AAA, while the company's rating on the short-term debt reaffirmed at 'P1+'.
http://www.business-standard.com/india/news/crisil-downgrades-reliance-infra/s-long-term-debt/60998/on <http://www.business-standard.com/india/news/crisil-downgrades-reliance-infra/s-long-term-debt/60998/on>

Billionaire Warren Buffett's investment firm Berkshire Hathaway said it lost $1.5 billion in the first quarter amid market turmoil as the value of its assets fell by $6.1 billion. The investment company controlled by Buffett, the world's second richest person, took a hit from its insurance holdings and a loss as it sold a big stake in oil giant ConocoPhillips.
<http://economictimes.indiatimes.com/International-Business/Warren-Buffett-firm-loses-15-bn/articleshow/4502304.cms> http://economictimes.indiatimes.com/International-Business/Warren-Buffett-firm-loses-15-bn/articleshow/4502304.cms

Larsen & Toubro (L&T) will sell its 11.5% stake in the Aditya Birla group company UltraTech Cement by December. Pegged at around Rs 800 crore at Friday's market price, the sale proceeds will prop up L&T's bottomline in 2009-10. The company will also realise a further Rs 100 crore of other income from the sale of its ready-mix concrete assets in 2009-10. It had sold that business to Lafarge in 2008 for Rs 1,480 crore, and around Rs 100 crore has been pending from this transaction. 

<http://economictimes.indiatimes.com/LampT-to-sell-its-115-in-UltraTech/articleshow/4501829.cms> http://economictimes.indiatimes.com/LampT-to-sell-its-115-in-UltraTech/articleshow/4501829.cms

Indian professionals aspiring to go to the US to work may now find it more difficult to get H-1B visas with Washington deciding on stricter screening following complaints of misuse of the facility.  Acting on the complaints, the US has adopted "fraud prevention tactics" to prevent such misuse. "We've added fraud prevention tactics. We've begun looking at other more standard fraud investigatory techniques that weren't being used in H-1B that we are now going to employ. It includes things like sites visits and worksites visits," Janet Napolitano, secretary of the Department of Homeland Security, said. 

<http://economictimes.indiatimes.com/Features/Visa/US-tightens-H-1B-visa-rules-for-Indians/articleshow/4502134.cms> http://economictimes.indiatimes.com/Features/Visa/US-tightens-H-1B-visa-rules-for-Indians/articleshow/4502134.cms

Few passengers may have taken to the skies in April, making it the third straight month that airlines have witnessed traffic declining on a year-on-year basis, as the industry struggles to cut costs and shed excess capacity.  Air passenger traffic in the domestic sector may have fallen by 8% in April 2009 compared with last year, according to market experts and travel industry officials. The official figures for the month will be released by the civil aviation ministry next week. 

<http://economictimes.indiatimes.com/News-by-Industry/Air-traffic-falls-8-y-o-y-in-April/articleshow/4501530.cms> http://economictimes.indiatimes.com/News-by-Industry/Air-traffic-falls-8-y-o-y-in-April/articleshow/4501530.cms

State-run Union Bank of India, in joint venture with Belgium-based company, plans to enter the mutual funds business by December this year and hopes to receive the market regulator Sebi's approval to set up the firm by June 30, a top bank official said. "The bank expects to receive the Sebi nod for JV by December. We would be able to enter the market with our first product by December this year," Union Bank General Manager Personal Banking & Operations S Govindan said here. 

<http://economictimes.indiatimes.com/Personal-Finance/Union-Bank-to-enter-MF-business/articleshow/4496213.cms> http://economictimes.indiatimes.com/Personal-Finance/Union-Bank-to-enter-MF-business/articleshow/4496213.cms

Inflationary pressure is very high in India, says Reddy
The monetary and fiscal packages announced by RBI and the government, according to him, are "on track", but the challenge before the authorities is unwinding the packages in due course.
http://www.mydigitalfc.com/monetary-policy/we-didnt-encourage-things-we-didnt-understand-yv-reddy-646 <http://www.mydigitalfc.com/monetary-policy/we-didnt-encourage-things-we-didnt-understand-yv-reddy-646>
http://www.livemint.com/2009/05/08230521/Inflationary-pressure-is-very.html?h=A1 <http://www.livemint.com/2009/05/08230521/Inflationary-pressure-is-very.html?h=A1>
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Result Update : SRF

Result Update : SRF
Net profit of SRF rose 1973.53% to Rs 21.15 crore in the quarter ended March 2009 as against Rs 1.02 crore during the previous quarter ended March 2008. Sales rose 4.00% to Rs 407.52 crore in the quarter ended March 2009 as against Rs 391.83 crore during the previous quarter ended March 2008.
For the full year, net profit rose 17.69% to Rs 163.27 crore in the year ended March 2009 as against Rs 138.73 crore during the previous year ended March 2008. Sales rose 11.49% to Rs 1800.82 crore in the year ended March 2009 as against Rs 1615.30 crore during the previous year ended March 2008.

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8-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14506 :: Silver 22544 :: Copper 233.85 :: Lead 72.05 :: Natural Gas 643.20 :: Lead 76.10 :: Crude Oil 2857 :: Natural Gas 209.80 :: CPO 401.60 :: HO 74.25 :: SO 506.30 & INR 49.28
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Just Joke

The US has made a new weapon that destroys people but keeps the building standing,. Its called the stock market.
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Sgx Nifty only 11 points down

Singapore nifty only 11 points down
All asia in lite red
Stress test of banks in usa is as market predict, so no bad news
Market already discounted that news
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8-May-09 News Headlines

Corporate News Headline
•JSW Steel reported Q4'09 results, total income declined 13.4% yoy to Rs. 37.19 bn, and it posted net loss to Rs. 399.3 mn. (BS)
•Reliance Infrastructure is planning to invest about Rs. 16.5 bn in various projects by the end of 2009-10. (BS)
•Tata Steel has recorded a 39% increase in the sales of long products, used by the construction industry, in the month of April at Jamshedpur Works, over the same period last year. (BS)

Economic and Political Headline

•QIPs, rights issues, and non-convertible debentures are back in vogue. At least 30 companies have drawn up plans to raise close to Rs. 500 bn through these routes to fund their working capital needs over the next six months. (BS)
•The Federal Reserve determined that 10 US banks need to raise a total of USD 74.6 bn in capital, concluding its unprecedented probe of the health of the nation's 19 largest lenders. (Bloomberg)
•The European Central Bank President Jean- Claude Trichet said the ECB unanimously agreed on a USD 80.5 bn plan to buy bonds as officials step up their response to the worst recession since World War II. (Bloomberg)
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7-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14533 :: Silver 22650 :: Copper 233.85 :: Lead 71.55 :: Nickel 642.40 :: Zinc 76.55 :: Crude Oil 2768 :: Natural Gas 198.30 :: CPO 409.30 :: HO 72.50 :: SO 513.65 :: INR
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7-May-09 Stock Market Summary

The Indian market bounced back after a correction and ended with gains today ahead of the US bank stress test results tonight. Metals hogged the limelight today on the back of strong April sales and price increase. Sensex shut shop at 12116, up 164 points and Nifty at 3683, up 58 points from the previous close. CNX Midcap index was up 2.02% and BSE Smallcap index was up 2.66%. The market breadth was positive with advances at 910 against declines of 301 on the NSE. Top Nifty gainers included Sterlite Industries, Hindalco and Tata Steel while losers were Ambuja Cements, ACC and BPCL.
Source : rediff.com
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Inflation

Inflation 0.57% Vs 0.26%
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Fii and Dii Activity

On May 05, 2009, FIIs were net buyers of stocks to the tune of Rs695 crore (purchases worth Rs2,969 crore and sales of Rs2,274 crore),while domestic mutual funds were net sellers of stocks to the tune of Rs37 crore (purchases worth Rs544 crore and sales of Rs581 crore).
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Results Today

Results today: JSW Steel, Union Bank, JP Hydro, Birla Corp, Tata Metaliks, Tamilnadu Petroproducts
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Nifty Pivot Levels

NIFTY SUPP@3550-3590-3615
RESIS@3670-3700-3720
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Singapore Nifty Update

Sgx Nifty is up by 22 points
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All Asia Markets Up

All asian markets are open in dark grrn, but now profit booking seen allo. Before sometime hangseng up by 440 points but now it is up by 136 points only.
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7-May-09 News Headlines

Corporate News Headline

•RIL has begun selling diesel from its Jamnagar refinery to local companies, with Hindustan Petroleum Corp Ltd receiving the first consignment this week. (BS)
•ONGC added a record 284 mn tonnes of oil and gas reserves in the 2008-09 fiscal, the highest addition by the company in the past 18 years. (BS)
•JSW Steel has decided to increase production from the present 7.8 mn tonnes a year to 32 mn tonnes annually by 2020. (BS)

Economic and Political Headline

•The Reserve Bank of India mopped up Rs. 1,449.13 bn from banks through reverse repo window, reflecting ample liquidity in the system. (BS)
•Treasury Secretary Timothy Geithner said that none of the 19 banks that underwent government stress tests are insolvent and the results will reassure investors and the public that the US financial system is sound. (Bloomberg)
•In a possible sign that the worst may be over for the US's labour market, a new report shows that American private companies slashed as many as 4,91,000 jobs in April, much less than expected. (BS)
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6-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14486 :: Silver 22326 :: Copper 238.65 :: Lead 72.05 :: Nickel 631.50 :: Zinc 78.30 :: Crude Oil 2778 :: Natural Gas 191.30 & CPO 413.70 :: HO 72.50 :: SO 516.60 & INR 49.60
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Nagarjuna Fertiliser

Market Rumour
Reliacne can make open offer to nagarjuna fertiliser abv 40
Cmp 25.50
Brave hearts can buy
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Infosys Tgt 1 done

Infosys fut low 1557
Tgt 1 done
We short at 1571
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Market Overview

All global mkts r rangebound now.
Nifty is also rangebound with 3600-3680 levels.
Abv 3680 level upside till 3725-3750
Below 3600 level 3550 is support level.
Bull might take rest for 1-2 days with some correction can be seen in global mkts.
But overall trend is bullish only.
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6-May-09 News Headlines

Corporate News Headline
•Tata Steel increased prices of long products sold in the spot market by up to 3% or Rs. 1,000/tonne this month on the back of rise in demand for metal from the construction sector. (ET)
•Suzlon Energy bagged a contract to set up a 52 MW wind power plant near Jakhao in Kutch from Gujarat State Petroleum Corporation. (BS)
•BHEL announced an investment of Rs. 120 bn over the next four years to pick up equity in power projects and to ramp up its capacity to support the generation of about 20,000 MW. (BS)

Economic and Political Headline

•The government is planning to transfer Rs. 280 bn from market stabilisation scheme to the normal cash account of the government, so that it need not go for additional borrowings. (BS)
•IMF said that the Indian economy, facing slowdown amid global financial slowdown, is expected to rebound near the end of the current calendar year. (ET)
•The US service industries rose to 43.7 in April from 40.8 in the prior month as home purchases and retail sales rose, another signal that the economic slump is abating. (Bloomberg)
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Asia up

All asian mkt are up
Sgx Nifty up by 14 points
Mkt hv to cross 3680 for upmove
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05-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14379 :: Silver 21791 :: Copper 227.55 :: Lead 69.55 :: Nickel 585.40 :: Zinc 74 :: Crude Oil 2676 :: Natural Gas 178.40 :: CPO 405.60 :: HO 70.50 :: SO 515.90 & INR 49.30
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Ganesh Housing Freeze

Ganesh Housimg also frreze
We bought in morning
But forgot to update users
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Tomm Gap down possible

Tomm mkt can open in red
Gap down possible
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Nifty 3600-3680

Nifty have to break 3680 to upmove
And 3600 for bear move
Where will nifty go?
For more info
Email us at moneybazaars@gmail.com
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Nifty 3600 put

Buy Nifty 3600 put
Cmp 147 sl 120
Can see 185-215
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BhartiShip Freeze

BhartiShip upper freeze @91.05
We bought at 86
Book partially :)
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Bhartiship 1st tgt achived

Bhartiship 90
1st tgt done
Sbi also all tgt achived
For more email us at
moneybazaars@gmail.com
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Nifty Alert

Alert:: Nifty Spot Cmp 3666 If Not cross 3680 & not sustain then we see 3630-3590..if cross & hold then 3750 on cards.
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Sgx Nifty Positive

Oops, sgx nifty positive
By 2.5 points
If nifty sustain abv 3700 we will see more upside zooms
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Be cautious

Our market overbought so be cautious. Nifty spot weak below 3650.
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Sgx Nifty

Sgx Nifty dowb by 8.5 points
Asian markets almost flat
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05-May-09 News Headlines

Corporate News Headline

•HDFC reported Q4'09 results, total income increased 36% yoy to Rs. 31.52 bn, and net profit dipped 4.5% yoy to Rs. 7.33 bn. (BS)
•Siemens has received an order worth Rs. 790 mn from Qatari German Switchgear for supplying 11kv air insulated switchgear. (BS)
•JSL is planning to invest Rs. 1.5 bn in the next 3-4 years for developing its captive railway line in a bid to save cost on its cargo movement. (BS)


Economic and Political Headline

•The Finance Ministry informed that it will shortly meet representatives from the packaged software industry to settle the issue of double taxation on the sector. (BS)
•The US President Barack Obama proposed to raise about USD 190 bn over the next decade by outlawing three offshore tax-avoidance techniques used by the US companies such as Caterpillar Inc. and Procter & Gamble Co. (Bloomberg)
•Pending sales of the US existing homes jumped 3.2% in March after a 2% gain in February and construction spending ended a six-month slide, spurring a rally in stocks and sell-off in Treasuries. (Bloomberg)
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4-May-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14433 :: Silver 21445 :: Copper 236.15 :: Lead 71.95 :: Nickel 605.80 :: Zinc 75.70 :: Crude Oil 2678 :: Natural Gas 184.60 :: CPO 404.90 :: HO 70.70 :: CPO 517.55 :: INR 49.90
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Gold short zooming

We short Gold June at 14550
Cmp 14475. We are rocking :)
Already 75 points minted, more to come. For more info email us at moneybazaars@gmail.com
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Short Silver

Short Silver July at 21400 Sl 21860 Tgt email us at moneybazaars@gmail.com
SL ON CLOSING BASIS.
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Short Gold

SHORT GOLD JUNE 14550 SL 14800 TGT email us at moneybazaars@gmail.com
& Short silver also.
Happy Trading
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1-May-09 Mcx Settlement Prices

Today's Settlment Prices :: Gold 14272 :: Silver 20717 :: Copper 233.45 :: Lead 70.05 :: Nickel 591.40 :: Zinc 74.85 :: Crude Oil 2659 :: Natural Gas 179.20 & HO 69.30
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17-April-09 News Headlines

Corporate News Headline
•Tech Mahindra would pay Rs. 17.56 bn before the deadline of April 21 for acquiring 31 % stake in Satyam Computer for which it got the approval from the Company Law Board. (BS)
•Unitech has moved to raise USD 325 mn through qualified institutional placement route mainly to service its debt of over Rs. 80 bn. (BS)
•Suzlon Energy is seeking to reschedule payments to Portugal's Martifer SGPS SA for buying a 22.4% stake in German unit REpower Systems AG. (Bloomberg)

Economic and Political Headline
•Inflation eased to 0.18%, the lowest ever in the last three decades, even as prices of food articles like pulses, cereals and vegetable hardened during the week ended April 4. (BS)
•Industrial production in Europe contracted 18.4% in February from the year- earlier month as the deepening global recession curtailed demand for manufactured goods around the world. (Bloomberg)
•China's economy, battered by collapsing exports, grew at 6.1% in the first quarter from a year earlier, the slowest pace in almost 10 years. (Bloomberg)
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16-April-09 Mcx Settlemet Prices

Today's Settlement Prices :: Gold 14140 :: Silver 20372 :: Copper 238 :: Lead 74.55 :: Nickel 620.70 :: Zinc 74.30 :: Crude Oil 2601 :: Natural Gas 179.30 :: CPO 367 :: HO 70.70 :: SO 490.25 :: 49.76
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16-April-09 News Headlines

Corporate News Headline
•Infosys reported Q4'09 results, total revenue rose 24% yoy to Rs. 56.35 bn, and net profit increased 29% yoy to Rs. 16.13 bn. (BS)
•Tech Mahindra has raised Rs. 8.75 bn from debt securities to help fund the acquisition of the beleaguered IT firm. (BS)
•L&T had signed an agreement with Russian company Atomstroy export for co-operation on nuclear power reactors. (BS)

Economic and Political Headline
•The Domestic air traffic declined by 12.22% in the first quarter of calendar year 2009, compared with the same period last year, and by 16.21% in March when compared with the same month last year. (BS)
•The US consumer price index fell 0.4% in March from a year before, and output at factories, mines, and utilities dropped 1.5% last month, when the share of industrial capacity in use slid to 69.3%. (Bloomberg)
•The Federal Reserve said the US contraction slowed across several of the biggest regional economies last month, with some industries "stabilizing at a low level." (Bloomberg)
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15-April-09 Settlement Prices

Today's Settlement Prices :: Gold 14282 :: Silver 21093 :: Copper 240.90 :: Lead 76.90 :: Nickel 612.20 :: Zinc 74.30 :: Crude Oil 2588 :: Natural Gas 183.50 :: CPO 370.10 :: HO 69.90 :: SO 490.25 & INR 49.65
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15-April-09 News Headlines

Corporate News Headline
•The Satyam board approved Tech Mahindra's offer of Rs. 58 a share, trumping Rs. 45.90 a share offered by Larsen & Toubro. (BS)
•Pantaloon Retail to be renamed Future Markets and Consumer Group will become the holding company for two of its biggest divisions, which will be spun off and made fully-owned subsidiaries. (BS)
•Pfizer Inc has offered about Rs. 680 crore to raise its stake in its Indian subsidiary to 75% from 41%. (BS)

Economic and Political Headline
•Recession in developed economies crippled demand for Indian goods and export growth slowed to 7.3% in April-February to USD 156.6 bn from a year earlier, sharply lower from close to 20% seen in 2007-08, commerce secretary G K Pillai said. (ET)
•Prices paid to US producers unexpectedly fell in March after two months of gains, indicating the recession is keeping inflation under control. The 1.2% decrease followed a 0.1% gain in February, figures from the Labor Department showed. (Bloomberg)
•Retail sales in the US unexpectedly dropped in March for the first time in three months, raising concern the biggest part of the economy may falter once again heading into the second quarter. Purchases fell 1.1%, with declines from car dealers to electronics stores and restaurants, the Commerce Department said. (Bloomberg)
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14-April-09 Mcx Settlement Prices

Today's Settlement Prices :: Gold 14328 :: Silver 21110 :: Copper 231.95 :: Lead 73.20 :: Nickel 580.20 :: Zinc 70.45 :: Crude Oil 2448 :: Gas 183.20 :: H.O. 69.55 & INR 49.48
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13-April-09 Mcx Settlemet Prices

Today's Settlement Prices :: Gold 14376 :: Silver 21069 :: Copper 234.85 :: Lead 71.75 :: Nickel 557 :: Zinc 69.95 :: Crude Oil 2566 :: Natural Gas 181.30 :: C.P.O. 356.60 :: H.O. 71.25 :: S.O. 482.20 & INR 49.88
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13-April-09 News Headlines

Corporate News Headline
•L&T bagged order worth Rs. 6.05 bn from the Water and Steel sectors in the last quarter of FY09. (BS)
•ONGC, RIL, and IOC are stitching together an alliance to bid for developing a vast oilfield in Venezuela at a cost of USD 16-18 bn. (BS)
•SBI has reduced lending rates for new SME loans up to Rs. 5 lakh to 8% and that for loans of Rs. 5-25 lakh to 10%, SBI Chief General Manager B S Bhasin said. (ET)

Economic and Political Headline
•Inflation declined to 0.26%, the lowest ever in more than three decades, for the week ended March 28 mainly on account of food items and mineral products. (BS)
•The number of Americans filing first-time claims for unemployment insurance exceeded 600,000 for a 10th straight week and the total collecting benefits increased to a record, signs the labor market remains weak. (Bloomberg)
•The Bank of England left the benchmark interest rate unchanged at 0.5% and said it will keep buying government bonds to fight the deepest recession in a generation. (Bloomberg)
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Holiday - Good Friday

Holiday:: Good Friday
10th April 2009
Friday
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9-April-09 News Headlines

Corporate News Headline
•ACC would invest around Rs. 29 bn in the next one year to increase its capacity to over 30 mtpa from the present 22.63 mtpa. (BS)
•Jindal Stainless is planning to raise up to Rs. 5 bn to part fund the second phase of its Rs. 57 bn Orissa project. (BS)
•IDEA Cellular is planning to invest Rs. 10 bn in Orissa in the next three years to expand its footprint. (ET)

Economic and Political Headline
•The total passenger car sales in the domestic market increased marginally in March to 1,29,358 from 1,28,098 units in the same month last year. (BS)
•The sales at the US wholesalers rose 0.6% in February for the first time in eight months, contributing to a record drop in inventories that indicates distributors are well on the way to eliminating the glut in stockpiles. (Bloomberg)
•The UK economy shrank 1.5% in the first quarter as the recession increasingly resembled the one that started in 1979 when Margaret Thatcher took power. (Bloomberg)
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Torrent Power gets Long Term Open Access Approval From CEAFor Surat Unit

Long Term Open Access (LTOA) for 500MW capacity out of 1100MW Sugen generaion project in Gujarat was already provided subject to availability of dedicated and identified system strengthening schemes.
 
However, it was informed that M/s Torrent Power has indicated that out of two LILO (Gandhar – Vapi at Sugen and Gandhar – Dehgam at Sugen –temporary arrangement] LILO of Gandhar – Vapi at Sugen is ready while other LILO of Gandhar-Dehgam at Sugen will take some more time.
 
Further, the first unit was ready for transfer of power.
 
It was discussed and decided that LTOA may be provided upto 500 MW progressively with already completed LILO arrangement viz with the commissioning of 1st unit of 365 MW LTOA may be provided for 365 MW and with commissioning of 2nd unit of 365 MW LTOA can be enhanced to 500 MW.
 
It was also agreed that the generation unit shall share the WR regional transmission charges corresponding to 365 MW on commissioning of 1st unit and 500 MW with commissioning of 2nd unit.
 
In case of any transmission constraint, suitable measures such as backing down may be required. It was also decided that M/s Torrent Power should expedite and complete the balance work of the dedicated transmission system at the earliest.

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8-April-09 Settlement Prices

Today's Settlement Prices :: Gold 14298 :: Silver 20553 :: Copper 220.85 :: Lead 66.90 :: Nickel 547.10 :: Zinc 67.80 :: Crude Oil 2538 :: Natural Gas 183.10 :: CPO 329.70 :: HO 72.25 :: SO 467.25 & INR 50.17
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EIA Crude Inventories

EIA Crude Inventories: CrudeOIL- +1.7 mnb, Distillates-Down 3.4 mnb, Gasoline- + 0.6 mnb
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7-April-09 Headlines

Corporate News Headline
•IVRCL Infrastructures and Projects bagged orders worth Rs. 3.59 bn including a project to construct a road flyover on a turnkey basis in Kolkata from the Kolkata Metropolitan Development Authority valued at Rs. 1.64 bn. (BS)
•HCL Technologies has entered into a six-year, multi-regional data centre services and transformation engagement with Xerox Corporation. (BS)
•Power Grid will borrow USD 2 bn from the World Bank and Asian Development Bank to part finance Rs. 550 bn investment plans till 2012. (BS)

Economic and Political Headline
•The Reserve Bank's Governor D Subbarao said that the main policy objective in the global crisis would be to arrest the moderation in economic growth and restore the eroded market confidence. (BS)
•The pace of borrowing by the US consumers fell 3.5% at an annual rate in February as fewer Americans sought credit to make purchases amid what may become the worst recession in seven decades. (Bloomberg)
•The UK manufacturing dropped 6.5% in the three months through February, the most in at least four decades as the global economic slump throttled demand for goods from cars to ceramics. (Bloomberg)

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IOB Q4 Results

IOB Q4 net profit seen up@ Rs.333 cr:Angel

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Union Bank and PNB QS Results

Union Bank Q4 net profit seen down Rs 487 cr:Angel

PNB Q4 net profit seen up @ Rs.769 cr:Angel
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7-April-09 Settlement Prices

Today's Settlement Prices :: Gold 14297 :: Silver 20502 :: Copper 220.40 :: Lead 66.45 :: Nickel 545.40 :: Zinc 67 :: Crude Oil 2495 :: Natural Gas 181.10 :: HO 70.25 & INR 49.98
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A Brief Rwind n weekly view

A Brief Rewind

* Sensex and Nifty closed the week on a positive note gaining by 2.98% and 3.29% respectively
* FII's were net buyers to the tune of Rs 530.30 crores for the month of March 09.
* Inflation rose marginally to 0.31%
* G20 triples bailout funds for nations


Technicals
 
Nifty has very strong support at 2865 & resistance at 3234. If Nifty sustains above 3250 then it would surge to 3400.
 
 
Short term calls
 
Sell Nifty sp1 3077, sp2 2980, sl 3250
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Power: Deficits Stare At Us..Why Look At Another Sector?

Elections could prove to be a lucrative proposition for captive power unit owners and merchant plant operators.
 
The State Electricity Boards are turning to the "power at any cost" mantra to minimise load-shedding during the polling months. This would mean a ready market for those wanting to sell surplus power to the grid. Lucrative tariffs during peak hours could be an added attraction.
 
Power trading firms could also gear up for a spurt in business over the next couple of months as States desperately seek electricity. Deals on the two functional power exchanges – IEX and PXIL – are also likely to see an increase.
 
In order to improve the power supply position, especially in the wake of projected demand in the election months, the Power Ministry has started monitoring the status of injection of surplus captive power into the grid. All State Load Despatch Centres have been asked to submit information on open access approvals by them and energy transaction details of captive power units on a regular basis, official sources said.
 
For grid operators, however, the prospect of most States looking to overdraw to minimise load-shedding could prove to be a nightmare. In the wake of threats to grid stability, the Central Electricity Regulatory Commission (CERC) has stepped up vigil and has started monitoring overdraws at frequencies below 49.2 Hz (hertz) on a weekly basis.
 
"The prices on the firm and day-ahead power from traders and day-ahead power from exchanges are on the rise due to the summer setting in and increased agriculture load. The threat of a tripping of the grid due to overdrawal of electricity by constituents is very real," a senior CERC official said.
 
The prospect of elections in peak summer months has aggravated the problem for grid managers, especially with States planning to leave no stone unturned to appease consumers on the electricity front.
 
In power-starved Maharashtra, even as the demand has surged to 15,000 MW and deficit way above 4,000 MW, the Maharashtra State Electricity Distribution Company Ltd promises no unplanned power outages. Rajasthan is procuring over 500 MW for as high as Rs 12 a unit during the coming months while Kerala has also announced a no-load-shedding policy for now.

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
 
Nothing in this article is, or should be construed as, investment advice.

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