Future Outlook: In view of the above formation it is evident that the upward sloping trendline mentioned above holds significance. In coming trading session 5940 – 5925 is crucial support zone for the indices. Any breach of this zone would lead nifty to test 5900 – 5850 levels in couple of days. On the flip side, a bounce up to 6000 – 6050 cannot be ruled out as hourly are in an oversold zone.
We reiterate our view that, one should adopt a cautious approach at current level.
Data Alert From Overseas -
* EU Economic Summit
* US Unemployment Rate at 7:00 pm.
Domestic Stock Specific News –
* India estimates FY13 GDP growth at decade's low of 5.0%
* Source says Lanco Infra bid lowest to operate SAIL Tasra coal block
* L&T says 3 people dead, 6 injured in Mumbai project mishap
* Report says India's Consumer Confidence Index slips to 38.0 in Jan
* Minister Patel to meet Chidambaram on auto cos' issues next week
* Power minister says to meet fincl institutions Fri on sector issues
* Government nominates RBI Deputy Governor Patel on SBI board
* Vodafone India Oct-Dec revenues 1.12 bln sterling, up 9.9% on year
*Britannia Ind Oct-Dec sales seen up on volume growth, price hikes
* CSO sees 2012-13 food grain output down 2.8%; cotton, cane also dn
* Govt Feb 1 food grain stock 66.19 mln tn vs 66.60 mln a month ago
* Cabinet panel OKs 150 rupee/100 kg hike in 2013 copra support price
* Gujarat stops urad procurement at MSP on foul play by traders
International News -
*German industrial Production increased 0.3 percent from November, when it fell 0.2 percent.
Securities in Ban For Trade Date 08-02-2013
Welcorp, Punjlloyd, Suzlon
Today’s Result –
Aanjaneya Lifecare, Aarvee Denims, Aarya Global Shares, Advani Hotels, Advanta India, Ahlcon Par, Alfa Ica, Amrapali Inds, Amulya Leas, Anjani Finance, Anjani Portland, Anuh Pharma, Apte Amalg, Aravali Sec, Ardi Invest, Ashok Alcochem, Aurionpro Sol, Axtel Inds, B&A, Bagadia Colour, Bagalkot Udyog, Balmer Lawr, Banco Products, BDH Inds, BEML, BGR Energy, Bharat Forge, Birla Corp, Blue Coast Hotels, BPL, Bright Bros, Cadila Health, Canara Bank, Chandra Prabhu, CHL, CINEPRO, Circuit Sys, City Union Bank, CMI FPE, Concurrent India, COX KINGS, Cravatex, DCM Fin Serv, Deepak Nitrite, Delton Cables, Dhampur Sug Mil, Dion Global Sol, Eastern Silk, Emami, Entegra, Eskay Knit, EURO MULTI, Finaventure Cap, Garodia Chem, Genus Commu, Girish Hotel , Glittek Gran, Global Offshore, GMR Infra, GTN Inds, Gujarat Apol, Gujarat Sidh, Gujarat State Pet, Gujarat Them, Gujarat Tool, Harrisons Maly, Hella India, Hindalco Inds, Hinduja Vent, IMC Finance, Indag Rubber, Indergiri Fin, India Gelatine, India Steel., Intec Cap, IO System, Jayant Merc, JD Orgochem, JMT Auto , Jyothi Infraventures, KANCO ENTER, Kanco Tea, Kanoria Chem, KCP, KDL Biotech, Kesar Petro, KEW Inds, Khaitan Chem, Kilburn Chem, KIRLOSKAR EL, KJMC Financial, KJMCCORP, KLIFESTYLE, KMF Builders, Koa Tools, Kothari Prod, Liverpool Fin, M and B Switchgears, Madhusudan Sec, Maestros Med, Mahindra & Mahindra, Mangalam Timb, MAVENS BIO, Mavi Inds, Max India, Microse India, Microsec Fin Serv,
Minda Inds, Modern Dairies, Modipon, Moser Baer, National Bldg Const, NCC, NHC Foods, Novopan Inds, Omega Interact, Orbit Exports, Pan India Corp, Panacea Bio, Parshwanath Corp, PH Trading, Pioneer Invest, Piramal Glass, PODDARDEV, Pratibha Inds, Pratiksha Chem, Punit Comm, Radico Khaitan, Rahul Merc, Rajdarshan Inds, Rajlaxmi Inds, Readymade Steel, Rekvina Lab, Religare Tech, Rubra Med, Ruby Mills, Rutron Intl, Safari Inds, Sam Inds, SANJAY LEAS, Saurashtra Cem, Savani
Fin, Schneider Elec, Sentinel Tea, Seshachal Tech, Sharyans Res, Sheetal Diam, Shiva Suitings, Shyam Telecom, SIEL Financial,Sika , Interplant, Southern Gas, Span Diag, SRS, SRS Real Infra, Standard Inds, Stanpacks India, Star Paper, Sterling Strp, STI India, Subros, Suchak Trading, Sudarshan Chem, Sudev Inds, Sun Pharma, Sundaram Clayton, Superstar Dist, Supreme Holdings, Suraj Products, Tamil Nadu News, Tata Chemicals, TCFC Finance, Titan Trading, TPL Plastech, Trident Tools, Trijal Inds, Tulsi Extr, Typhoon Hold, Universal Off, Ushakiran Fin, Uttam Galva, VA Tech Wabag, Vardhman Special, Ventura Tex, Veritas India, Vintage Sec, Vivid Glob, Winsome Diamonds, Wires & Fabriks, Wyeth, Zenotech Lab, Zodiac Cloth
EX- Dividend + Board Meeting -
EX- Dividend - AVT Nat Products, , Gujarat Fluo, REC, Surya Roshni.
Board Meeting (Purpose) – Cigniti Tech (General )
SECTOR NEWS
===========
* BANKING: National Housing Bank disbursed 95.16 bln rupees as refinance support
to banks and housing finance companies during the first six months of 2012-13
(Jul-Jun). (NW18)
.
* CEMENT: Lafarge has short-listed Temasek Holdings, Singapore's sovereign
investment fund, and Baring Asia as potential buyers for a minority stake in its
Indian arm Lafarge India. (ET)
.
* CORPORATE: Indian companies invested $3.30 bln in overseas joint ventures
and subsidiaries in January, higher than $2.57 bln invested in December. (NW18)
.
* ECONOMY: Citibank cut India FY14 GDP growth forecast to 5.7% from 6.2%. (NW18)
Bank of England: Kept its bank rate unchanged at 0.5%. (NW18)
STATE BANK OF INDIA Chairman Patip Chaudhuri has ruled out further interest
rate cuts. (ET)
.
* ENERGY: US has approached the World Trade Organization against India, alleging
that the latter's policy favouring local manufacturing of solar cells and
modules is restricting US exports of the same. (NW18)
.
* CONSUMER GOODS: Mrs Bector's Food Specialities Ltd, which owns the Cremica
brand, may go for a public listing of its biscuit unit. (BS)
.
* GOVERNMENT: Comptroller and Auditor General of India Vinod Rai has said the
government has tried to reduce the federal auditor to an accountant with no role
in auditing policy. (ToI)
Nearly 8,500 income-tax officers, assistant commissioners and administrative
officers of the Income-Tax Department have announced a nationwide agitation to
draw the government's attention to their long-pending demands. (ET)
.
* INFORMATION TECHNOLOGY: Cognizant Technology Solutions Corp's net profit for
the quarter ended December rose 16% on year to $278.8 mln. (NW18)
.
* INSURANCE: HDFC Life has sent a legal notice to Life Insurance Corp seeking
action against its agents who it claims are spreading malicious rumours about
the private insurer. (ToI)
.
* METALS: India and Uruguay have signed a letter of intent to explore investment
opportunity and exchange of technical know-how in iron ore and steel sectors.
(NW18)
.
* POWER: Thermal power plants with 16,000-MW capacity, entailing investment of
over 800 bln rupees, may not get the benefit of coal price pooling. (BS)
.
* RAILWAYS: Railways Minister said half of the money raised from the recent hike
in fares has been wiped out due to the steep increase in diesel prices for
bulk users. (NW18)
.
* REALTY: The Maharashtra Housing and Area Development Authority has envisioned
a 50-bln-rupee project to redevelop its housing colonies on its own. (ToI)
Blackstone Group, Embassy Property and HDFC Property Fund are set to buy
special economic zone Vrindavan Tech Village for 19.51 bln rupees. (Mint)
The finance ministry is favouring the housing ministry's proposal to extend
income-tax breaks for affordable housing in the Union Budget. (FE)
.
* RETAIL: Future Group will list Future Lifestyle Fashions on the stock
exchanges in Apr-Jun. (Var)
.
* TAX: The government is considering a surcharge on income of over 10 mln rupees
per annum. (BS)
.
* TELECOM: Vodafone will challenge the income tax department's fresh notice
related to transfer of shares. (PTI)
.
.
STOCKS
======
* ACC: Has posted Oct-Dec net profit of 2.51 bln rupees, down 45.8% on year and
net sales of 26.91 bln rupees, up 1.9% on year. (NW18)
.
* AMBUJA CEMENTS: Has posted Oct-Dec net profit of 2.12 bln rupees, down 29.9%
on year. Net sales were 23.13 bln rupees, down 0.7% on year. (NW18)
.
* ARVIND: Arm has signed a long-term licensing pact with Iconix Lifestyle India
to manufacture and distribute apparel and accessories under the Ed Hardy brand
across India for multiple years. (NW18)
.
* ASHOK LEYLAND: Has received On Board Diagnostic II certification for emission
technologies in Bharat Stage IV-compliant vehicle engines. (NW18)
.
* AUROBINDO PHARMA: Posted consolidated Oct-Dec net profit of 918.1 mln rupees
against loss of 285.4 mln rupees a year ago. Net sales were 15.52 bln rupees,
up 22.8% on year. (NW18)
.
* AXIS-IT&T: Arm Cades Digitech has signed a strategic partnership pact with
STUDEC France. (NW18)
.
* BANK OF BARODA: Plans to shed bulk deposits amounting to 180 bln rupees by
March end to bring stability to its funding profile and improve interest
margins. (BS)
.
* BHARATI AIRTEL: Has announced a new organisational structure for its India
operations, under which it will have eight hubs. (NW18)
.
* BLUE STAR: Workers have gone on an "illegal" strike at the company's Wada
facility near Mumbai. (NW18)
.
* BOMBAY DYEING & MANUFACTURING CO: Posted Oct-Dec net loss of 268.6 mln rupees
against loss of 521.1 mln rupees a year ago. Net sales were 4.71 bln rupees, up
11.8% on year. (NW18)
.
* CALIFORNIA SOFTWARE CO: Board has approved selling of the company's IT
business. (NW18)
.
* CANARA BANK: Will raise interest rates on bulk domestic term deposits and bulk
non-resident external deposits by 5 basis points to 9.10% for deposit tenures of
one year to below two years. (NW18)
.
* DLF: Has filed an appeal in the Competition Appellate Tribunal challenging
the Jan 10 order of the Competition Commission of India on modification of
builder-purchase agreements of Gurgaon housing project. (NW18)
.
* ELANTAS BECK INDIA: Promoter ELANTAS is planning to sell 1.07 mln Elantas
Beck shares on Monday. (NW18)
.
* GLENMARK PHARMACUETICALS: Arm has launched a generic of anti-malarial drug
Malarone in the UK after a high court there revoked a patent on the medicine.
(NW18)
.
* GREAT EASTERN SHIPPING CO: Consolidated Oct-Dec net profit more than doubled
to 1.92 bln rupees, while net sales remained flat at 7.52 bln rupees. (NW18)
.
* INDIABULLS FINANCIAL SERVICES: Is planning to raise up to 4.48 bln rupees
Friday by selling its shares through block deals in the secondary market.
(NW18)
.
* ITC: Chairman Y.C. Deveshwar sold 900,000 shares of the company for 274.79
mln rupees in the open market on Jan 31. (NW18)
.
* JAYASWAL NECO INDUSTRIES: Board has approved the issue of 67.5 mln shares
on preferential basis to promoter and non-promoter entities. (NW18)
.
* JK TYRE & INDUSTRIES: Posted Oct-Dec net profit of 211.4 mln rupees against
loss of 213.1 mln rupees a year ago. Net sales were 12.74 bln rupees, down 7.6%
on year. (NW18)
Is planning to invest 2.4 bln rupees over the next 15 months for
expanding its capacity in India and Mexico. (NW18)
.
* JYOTHY LABORATORIES: Merger with Henkel India will be completed by
March-end. (BS)
.
* LARSEN & TOUBRO: Three employees of the company were arrested on Thursday in
connection with the collapse of a part of an under-construction bridge in
Mumbai. (Var)
.
* MASTEK: Has bought back 2.38 mln shares from the open market during the
offer period between Nov 26 and Feb 5. (NW18)
.
* MEDI CAPS: Board has approved three-for-one bonus share issue. (NW18)
.
* MRF: Has posted Oct-Dec net profit of 1.80 bln rupees, up 59.6% on year.
Net sales were 30.23 bln rupees, up 5.2% on year. (NW18)
.
* NTPC: The government has mopped up around 116 bln rupees from sale of
783.31 mln shares of the company from its own holding in the company. (NW18)
.
* POWER GRID CORP OF INDIA: Is planning to raise up to 30 bln rupees via bond
issue by March. (NW18)
.
* PRAKASH INDUSTRIES: For lack of concrete evidence, the Securities and
Exchange Board of India has disposed of a case against the company relating
to non-disclosure of trading in the company's shares by Managing Director
Vikram Agarwal. (NW18)
.
* SHASUN PHARMACUETICALS: Has posted Oct-Dec net profit of 82.1 mln rupees,
down 66.6% on year. Net sales were 2.57 bln rupees, down 13.1% on year. (NW18)
.
* SHREE GANESH JEWELLERY: Board has approved preferential issue of 10 mln
shrs to promoters. (NW18)
.
* STRIDES ARCOLAB: Shares of the company fell 17.5% on Thursday on speculation
a potential sale of its injectable medicines unit to Pfizer may get delayed or
cancelled over valuation mismatch. (ET)
.
* SUNGOLD CAPITAL: Board has approved allotment of 2.3 mln shrs on warrant
conversion. (NW18)
.
* UFLEX: Has posted Oct-Dec net profit of 361.7 mln rupees, down 29.3% on
year. Net sales were 12.03 bln rupees, up 11.1% on year. (NW18)
.
* WANBURY: Board has approved hiving off formulation operations into a
subsidiary. (NW18) End
.
