Markets opened on a flat note but as the day progress moved on higher side. On the sectoral front bankex, power and CD ended on the gainers side. The advance decline ratio was in favour of advancing counters (Advances = 1714/ Declines=1008).
Pattern Formation: On the Daily chart, we are witnessing nifty has closed above short term moving averages 5&20 SMA and oscillator showing come oversold position.
Future Outlook: In view of the above pattern formation, market can move up to 200 DMA which is act 5080-5085. In the coming days on the down side 4920-4880 will be act as a support. We can see some stock specific movement in market in coming days.
Data Alert From Overseas -
• German Prelim Consumer Price Index m-o-m.
Domestic Sector News –
• Pharmaceutical: The Commerce Ministry has raised concern against Department of Pharmaceuticals' inaction of bringing the patented drugs under price negotiation system. There is no provision for patented drugs in the new drug pricing policy.
• Power: State-owned Maharashtra State Electricity Distribution Co has proposed an increase of about 8.5% in power tariff for over 15 mln residential consumers. It also has suggested raising the discount on tariff for industrial consumers from 80 paisa to 2.50 rupees per unit on power used.
• Telecommunication: The telecom companies may have to shell out significantly lower money for the airwaves in the upcoming auction, if the telecom panel on spectrum sale accepts the proposal of halving the spectrum tenure to 10 years. The Department of Telecommunications expects to finalise
the norms for mergers and acquisitions and spectrum sharing by end of June
Domestic Stock Specific News -
•DEEPAK FERTILISERS & PETROCHEMICALS: Plans to use its cash reserves to expand in the chemicals space, which may include acquisitions.
• FORTIS HEALTHCARE: Has hived off its non-core businesses and related assets in to a separate company, which it will list on Singapore Exchange to raise 20 bln rupees.
• INDIAN HUME PIPE CO: Will soon sign a pact with Dosti Realty for development of its slum-encroached land at Wadala in Mumbai.
• JINDAL STEEL & POWER: Is planning to buy stake in around 3-4 mining companies in Australia, within next six months and will spend around $10-$25 mln for each as the company tries to secure its raw material supply, and foray into mining business in future.
International News -
• Govt bond yields hits highest since November at 6.5% in Spain.
Today’s Result –
ABGSHIP, Acropetal, Adffoods, Aegischem, Ambikco, Angind, APOLLOHOSP, Archidply, Auropharma, Ausoment, Autolitind, Bbtc, Bepl, Bindalagro, Biofilchem, Birlacot, BRFL, Brooks, Chemplast, Chettinad, Compuage, Denso, Dssl, Eihotel, Ekc, Emmbi, Essdee, Fch, Filatex, Gallantt, Gangotri, Genesys, Geojitbnpp, Gillanders, Ginnifila, Gmrinfra, GODFRYPHLP, Goenka, Heritgfood, Hindcopper, Hindpetro, Hocl, Hopfl, Horizoninf, Hoteleela, Hsil, Ifbagro, Impal, Ipcalab, Jbfind, Jsl, Jumbo, Kabraextru, Kei, Koltepatil, Kotharipro, Kovai, Krisnafila, LITL, Magnum, Marksans, Mcdholding, Mcdowell‐N, Mindacorp, Mindaind, Mspl, Nbcc, Ncc, Nitinfire, Omnitech, ONGC, Orientabra, Oswalagro, Pdumjeind, Pdumjepulp, Penind, Philipcarb, Phoenixltd, Piind, Pnc, Polyplex, Powergrid, Prajind, Prakash, Pricol, Provoge, Psl, PVR, Radaan, Ramanews, Ramky, Ratnamani, Refex, RENUKA, Rmcl, SAIL, Sakthifin, Saloraintl, Sanghvifor, Schneider, SCI, Selmcl, Spmlinfra, Sswl, Sunflag, SUNPHARMA, Suprajit, Talbroauto, Tantiacons, TATAMOTORS, Technofab, Tnpl, Treehouse, Vaibhavgem, Venkeys, Vlsfinance, Vsttillers, Vtxind, Welcorp, Wstcstpapr, Zodiacloth.
Results Announced on 28-05-2012 -
• Amara Raja Batteries Jan-Mar net profit 58.28 cr rupee vs 41.11 cr rupees (Y-o-Y).
• Coal India Jan-Mar consol net profit 4013.41 cr rupee vs 4220.92 cr (Y-o-Y).
• Mcleod Russel Jan-Mar net loss 157.39 cr rupees vs 122.94 cr loss (Y-o-Y).
• Balrampur Chini Jan-Mar net profit 129.93 cr rupees vs 112.78 cr (Y-o-Y).
• 3M India Jan-Mar net profit 21.77 cr rupees vs 28.30 cr (Y-o-Y).
• Gujarat NRE Jan-Mar net loss 45.51 cr vs 51.64 cr rupees profit (Y-o-Y).
• Motherson Sumi Jan-Mar cons net profit 194.83 cr rupees vs 138.90 cr rupees (Y-o-Y).
• Oil India Jan-Mar net profit 444.81 cr rupees vs 562.61 cr rupees (Y-o-Y).
• Bharat Forge Jan-Mar net profit 55.12 cr rupees vs 100.65 cr rupees (Y-o-Y).
• National Fertilizers Jan-Mar net profit 56.87 cr vs 26.72 cr rupees (Y-o-Y).
• Bajaj Electrical Jan-Mar net profit 48.99 cr vs 57.45 cr rupees (Y-o-Y).
• Electrosteel Casting Jan-Mar net profit 5.89 cr rupees vs 38.50 cr rupees(Y-o-Y).
• Sundaram Finance Jan-Mar net profit 98.21 cr rupees vs 98.20 cr rupees (Y-o-Y).
• Neyveli Lignite Corp Jan-Mar net profit 605.21 cr rupees vs 586.45 cr rupees (Y-o-Y).
• Bombay Dyeing Jan-Mar net profit 185.18 cr rupees vs 81.95 cr rupees (Y-o-Y).
• NMDC Jan-Mar net profit 1642.28 cr rupees vs 2098.62 cr rupees (Y-o-Y
Board Meeting (Purpose) - LKP FIN (Buy Back of Shares), Steelcast (Stock Split), Sudar Garments (General).
Pattern Formation: On the Daily chart, we are witnessing nifty has closed above short term moving averages 5&20 SMA and oscillator showing come oversold position.
Future Outlook: In view of the above pattern formation, market can move up to 200 DMA which is act 5080-5085. In the coming days on the down side 4920-4880 will be act as a support. We can see some stock specific movement in market in coming days.
Data Alert From Overseas -
• German Prelim Consumer Price Index m-o-m.
Domestic Sector News –
• Pharmaceutical: The Commerce Ministry has raised concern against Department of Pharmaceuticals' inaction of bringing the patented drugs under price negotiation system. There is no provision for patented drugs in the new drug pricing policy.
• Power: State-owned Maharashtra State Electricity Distribution Co has proposed an increase of about 8.5% in power tariff for over 15 mln residential consumers. It also has suggested raising the discount on tariff for industrial consumers from 80 paisa to 2.50 rupees per unit on power used.
• Telecommunication: The telecom companies may have to shell out significantly lower money for the airwaves in the upcoming auction, if the telecom panel on spectrum sale accepts the proposal of halving the spectrum tenure to 10 years. The Department of Telecommunications expects to finalise
the norms for mergers and acquisitions and spectrum sharing by end of June
Domestic Stock Specific News -
•DEEPAK FERTILISERS & PETROCHEMICALS: Plans to use its cash reserves to expand in the chemicals space, which may include acquisitions.
• FORTIS HEALTHCARE: Has hived off its non-core businesses and related assets in to a separate company, which it will list on Singapore Exchange to raise 20 bln rupees.
• INDIAN HUME PIPE CO: Will soon sign a pact with Dosti Realty for development of its slum-encroached land at Wadala in Mumbai.
• JINDAL STEEL & POWER: Is planning to buy stake in around 3-4 mining companies in Australia, within next six months and will spend around $10-$25 mln for each as the company tries to secure its raw material supply, and foray into mining business in future.
International News -
• Govt bond yields hits highest since November at 6.5% in Spain.
Today’s Result –
ABGSHIP, Acropetal, Adffoods, Aegischem, Ambikco, Angind, APOLLOHOSP, Archidply, Auropharma, Ausoment, Autolitind, Bbtc, Bepl, Bindalagro, Biofilchem, Birlacot, BRFL, Brooks, Chemplast, Chettinad, Compuage, Denso, Dssl, Eihotel, Ekc, Emmbi, Essdee, Fch, Filatex, Gallantt, Gangotri, Genesys, Geojitbnpp, Gillanders, Ginnifila, Gmrinfra, GODFRYPHLP, Goenka, Heritgfood, Hindcopper, Hindpetro, Hocl, Hopfl, Horizoninf, Hoteleela, Hsil, Ifbagro, Impal, Ipcalab, Jbfind, Jsl, Jumbo, Kabraextru, Kei, Koltepatil, Kotharipro, Kovai, Krisnafila, LITL, Magnum, Marksans, Mcdholding, Mcdowell‐N, Mindacorp, Mindaind, Mspl, Nbcc, Ncc, Nitinfire, Omnitech, ONGC, Orientabra, Oswalagro, Pdumjeind, Pdumjepulp, Penind, Philipcarb, Phoenixltd, Piind, Pnc, Polyplex, Powergrid, Prajind, Prakash, Pricol, Provoge, Psl, PVR, Radaan, Ramanews, Ramky, Ratnamani, Refex, RENUKA, Rmcl, SAIL, Sakthifin, Saloraintl, Sanghvifor, Schneider, SCI, Selmcl, Spmlinfra, Sswl, Sunflag, SUNPHARMA, Suprajit, Talbroauto, Tantiacons, TATAMOTORS, Technofab, Tnpl, Treehouse, Vaibhavgem, Venkeys, Vlsfinance, Vsttillers, Vtxind, Welcorp, Wstcstpapr, Zodiacloth.
Results Announced on 28-05-2012 -
• Amara Raja Batteries Jan-Mar net profit 58.28 cr rupee vs 41.11 cr rupees (Y-o-Y).
• Coal India Jan-Mar consol net profit 4013.41 cr rupee vs 4220.92 cr (Y-o-Y).
• Mcleod Russel Jan-Mar net loss 157.39 cr rupees vs 122.94 cr loss (Y-o-Y).
• Balrampur Chini Jan-Mar net profit 129.93 cr rupees vs 112.78 cr (Y-o-Y).
• 3M India Jan-Mar net profit 21.77 cr rupees vs 28.30 cr (Y-o-Y).
• Gujarat NRE Jan-Mar net loss 45.51 cr vs 51.64 cr rupees profit (Y-o-Y).
• Motherson Sumi Jan-Mar cons net profit 194.83 cr rupees vs 138.90 cr rupees (Y-o-Y).
• Oil India Jan-Mar net profit 444.81 cr rupees vs 562.61 cr rupees (Y-o-Y).
• Bharat Forge Jan-Mar net profit 55.12 cr rupees vs 100.65 cr rupees (Y-o-Y).
• National Fertilizers Jan-Mar net profit 56.87 cr vs 26.72 cr rupees (Y-o-Y).
• Bajaj Electrical Jan-Mar net profit 48.99 cr vs 57.45 cr rupees (Y-o-Y).
• Electrosteel Casting Jan-Mar net profit 5.89 cr rupees vs 38.50 cr rupees(Y-o-Y).
• Sundaram Finance Jan-Mar net profit 98.21 cr rupees vs 98.20 cr rupees (Y-o-Y).
• Neyveli Lignite Corp Jan-Mar net profit 605.21 cr rupees vs 586.45 cr rupees (Y-o-Y).
• Bombay Dyeing Jan-Mar net profit 185.18 cr rupees vs 81.95 cr rupees (Y-o-Y).
• NMDC Jan-Mar net profit 1642.28 cr rupees vs 2098.62 cr rupees (Y-o-Y
Board Meeting (Purpose) - LKP FIN (Buy Back of Shares), Steelcast (Stock Split), Sudar Garments (General).
