What India's Stocks Market Will Watch - Sep 16
Tuesday, Sep 16 - Morning brief for the stock market:
BIG PICTURE
* Ashok Chawla appointed economic affairs secretary (NW18)
* Nepal PM promises conducive environment for pvt sector investment
(NW18)
* Rangarajan says India industrial growth likely to be sustained
(NW18)
* Rangarajan sees India inflation at 10% by December (NW18)
* Crude slides below $97/bbl, but no retail price cut yet (ET)
* Over 20 bln rupees wiped out from Lehman's India investments (BS)
* Lehman intends to file for bankruptcy; subsidiaries kept out (NW18)
* Lehman Brothers to liquidate its Indian holdings (FE)
.
.
TOP EVENTS TODAY
* Press Meet of:
+ Tata Tea to launch a new marketing initiative
+ Punjab National Bank Chairman to launch financial inclusion pilot.
* Board Meetings of:
+ Hydro S&S Industries to consider share buy back.
+ Marksans Pharma to allot equity shares to Bamacle LLC on
preferential basis.
+ Victory Projects to consider issue of shares and warrants.
* Annual General Meetings of: AIA Engineering, Khaitan Electricals,
Max India,
Puravankara Projects, and Rajesh Exports, among others.
* The standing linkage committee on coal to meet to decide linkages
for
coal-based power stations for the Oct-Dec quarter. (NW18)
.
.
INDICATORS (previous session)
* Institutional net buy/(sale) in mln rupees, Sep 12: FIIs (8,564),
MFs 2,101
* Sensex 13531.27, down 469.54 points; Nifty 4072.90, down 155.55
points
* Other markets:Crude:$95.71/bbl;rupee:46.06/$1;gold:$786.30/ounce;10-
yr
yld:8.15%
.
.
OUTLOOK
* Seen down today as turmoil in financial markets has led to a steep
fall in
US and Asian markets. Market may test July lows.
.
.
GLOBAL STOCK MARKETS
* US shares witnessed their steepest fall in seven years Monday on
worries over
the country's financial markets after Lehman Brothers Holdings filed
for
protection against bankruptcy and reports said insurer American
International
Group is seeking support from the Federal Reserve.
Lehman fell 94%, while AIG sank 61%.
.
* Asian indices were trading sharply lower today tracking US shares on
worries
over the health of global financial markets. Bank of Japan reportedly
injected
$14.4 bln into the financial system, while China cut interest rates
for the
first time in six years.
.
.
SECTORS
AVIATION: Shell-MRPL Aviation Fuels & Services has started commercial
operations with fuelling of Jet Airways and Lufthansa aircraft at the
Bengaluru International Airport. (NW18)
.
BIOFUELS: Indian Railways rethinking plan to lease out part of 43,000
ha
surplus land for cultivation of jatropha, used for making bio-fuels.
(FE)
.
FINANCIAL SERVICES: Securities brokerage house SMC group has sold 5%
equity
stake to South Africa-based Sanlam Investments for 1.55 bln rupees.
(NW18)
.
PRIVATE EQUITY: Finance ministry's concern over "treaty shopping" puts
on hold
private equity firm 3i's plan to invest 8 bln rupees in Krishnapattam
Port Co.
(ET)
.
CHEMICALS: Indian Railways to offer 5-6% cut in freights for caustic
soda, soda
liquor and alumina carried by private wagons; move likely to benefit
companies
like National Aluminium Co and Hindalco Industries. (ET)
.
REAL ESTATE: West Bengal may finalise report on Urban Land Ceiling Act
change
in October. (NW18)
.
TELECOM: Department of Telecommunications says foreign telecom firms
cannot
launch third generation services with 5 MHz. (ET)
Bharat Sanchar Nigam ties up with British telecom major Cable &
Wireless to
expand global network. (NW18)
.
.
STOCKS
* CIMMCO BIRLA: Ratifies tripartite pact with labour union and ends
lockout
at Bharatpur unit. (NW18)
.
* ESSAR STEEL: Hopeful of buying 548 ha land by September-end in first
phase of
land acquisition for proposed 6 mln tn steel plant at Paradip in
Orissa. (NW18)
.
* FUTURE CAPITAL HOLDINGS: Future Ventures India close to buying
substantial
stake in Kolkata-based apparel maker Turtle. (ET)
.
* GLODYNE TECHNOSERVE: Has bagged an order worth 2.84 bln rupees from
the Bihar
State Electronics Development Corp. (NW18)
.
* GODFREY PHILLIPS INDIA: Ups price of Four Square Special Filter by
21% or 4
rupees to 23 rupees per pack of 10 sticks. (NW18)
.
* HCL TECHNOLOGIES: Plans to acquire captive business process
outsourcing and
information technology arms of banking and financial services firms.
(NW18)
Sees mark-to-market losses on foreign exchange hedge in Jul-Sep.
(NW18)
.
* ITC: Has launched Wills Navy Cut Regular-size filter cigarettes,
priced 24
rupees per pack of 10 sticks, in select markets in north and west
India.
(NW18)
.
* JET AIRWAYS: In talks to buy at least 24% stake in aircraft
maintenance,
repair and overhaul facility being set up by GMR group at Hyderabad
international airport. (Mint)
.
* KARNATAKA BANK: Total business during the current financial year is
expected
to grow 20% from a year ago. (NW18)
.
* RELIANCE CAPITAL: To raise $1 bln for private equity foray. (BS)
.
* RELIANCE COMMUNICATIONS: Added 1.75 mln mobile users in August, the
same
number that it added in the previous month. (NW18)
.
* RELIANCE INDUSTRIES: May be asked by Maharashtra government to
increase the
relief and rehabilitation package offered to people affected by the
Mumbai
special economic zone. (ET)
.
* SATYAM COMPUTER SERVICES: Has won an SAP implementation contract
from Oman's
diversified business conglomerate Khimji Ramdas LLC. (NW18)
.
* SHIPPING CORP: Awards $376 mln contract to Korean shipbuilder STX
Shipbuilding
for building four new ships. (Mint)
.
* SHRIRAM CITY UNION: TPG India Investments makes open offer for 20%
more stake
at 400 rupees a share. (BS)
.
* STATE BANK OF INDIA: Sees FY09 deposit growth at 20-21% and retail
deposits
growing "far better" than a year ago. (NW18)
Does not have any large cross currency exposure wherein Lehman
Brothers is
a counterparty; no impact on balance sheet after Lehman filed for
protection
against bankruptcy. (NW18)
Government to take up merger of two associate banks with SBI. (ET)
.
* TATA CONSULTANCY SERVICES and WIPRO: Recast hiring plans. (ET)
.
* TATA MOTORS: Singur land panel to file report after Friday. (NW18)
.
* TITAGARH WAGONS: To take joint control of Cimmco Birla, an ailing
wagon unit
promoted by S.K. Birla group. (BL)
.
* USHER AGRO: Private equity firms including Blackstone, TPG, Blue
River
Capital, Actis, and Silk Route eyeing over 40% stake. (ET)
.
* WIPRO: Clarifies that Lehman Brothers Holdings does not account for
a
significant portion of its revenues. (NW18)
.
--~--~---------~--~----~------------~-------~--~----~
You received this message because you are subscribed to the Google Groups
"Kences1" group.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to [EMAIL PROTECTED]
For more options, visit this group at
http://groups.google.com/group/kences1?hl=en
-~----------~----~----~----~------~----~------~--~---
