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Wednesday, January 27, 2010

Newsletter - Jan 28 2010


Newsletter - Jan 28 2010

Market Review - Jan 27 2010


Market Review - Jan 27 2010

Market drops most in 6 months; Nifty settles below 4,900


Indian equities continued to decline for the sixth straight session on Wednesday. Both Sensex and Nifty traded below 2-month low. Market saw a major crash today as Nifty settled below the psychological level of 4,900 for first time and it was the single day fall since August 2009. The indices slipped further on the back of aggressive selling by FIIs amid weak trends in overseas market. Broader markets also underperformed. Realty stocks was worst hit followed by metal, auto and banking stocks.

The markets posted highest ever turnover of Rs 1.8 lakh crore, including biggest ever NSE F&O turnover of Rs 1.65 lakh crore.

On global front, European stocks declined to the lowest levels in more than a month amid mounting concern that China and the US will accelerate plans to unwind stimulus measures as the economy rebounds.

Asian stocks fell for an eighth day, the longest streak since May 2005, as a bigger-than-estimated increase in Australian consumer prices fueled concern tighter monetary policies in the region will slow growth.

At the close, the benchmark 30-share index, BSE Sensex lost 490.64 or 2.92% at 16,289.82 with 29 components registering drop. Meanwhile, the broad based NSE Nifty went down by 154.80 or 3.09% at 4,853.10 with 49 components posting drop.

Sensex Movers

ICICI Bank contributed fall of 59.93 points in the Sensex. It was followed by Tata Steel (43.26 points), State Bank Of India (39.01 points), Reliance Industries (33.19 points) and H D F C Bank (30.72 points).

However, ITC contributed rise of 3.22 points in the Sensex. It was followed by Tata Power Company (1.65 points), Sun Pharmaceutical Industries (2.29 points), ACC (3.25 points) and Reliance Communications (3.97 points).


ITC, which gained 0.39% was the only gainer in the Sensex pack.

On the other hand, Tata Steel (8.48%), D L F (7.83%), Tata Motors (6.80%), Reliance Capital (6.45%), Wipro (5.79%), and Hindalco Industries (5.66%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Midcap index was at 6429.16 down by 266.16 points or by 3.98%. The major losers were A I A Engineering (6.38%), Reliance MediaWorks (6.31%), Aban Offshore (5.54%), Core Projects and Technologies (2.44%) and Alstom Projects India (1.23%).

The BSE Smallcap index was at 8148.82 down by 434.19 points or by 5.06%. The major losers were Abhishek Industries (7.99%), A B G Shipyard (6.74%), A B G Infralogistics (6.72%), Aarti Industries (5.77%) and INEOS ABS (India) (4.55%).

Sectors in Limelight

The Realty index was at 3,357.25, down by 290.9 points or by 7.97%. The major losers were Indiabulls Real Estate (10.61%), D L F (7.83%), Anant Raj Industries (4.93%), Ansal Properties and Infrastructure (3.49%) and Ackruti City (3.03%).

The Metal index was at 16,050.57, down by 991.74 points or by 5.82%. The major losers were Gujarat N R E Coke (12.28%), Hindalco Industries (5.66%), Hindustan Zinc (4.95%), Jindal Steel & Power (3.72%) and Jai Corp (0.6%).

The Auto index was at 6,897.71, down by 346.21 points or by 4.78%. The major losers were Bharat Forge (5.81%), Ashok Leyland (4.26%), Amtek Auto (3.73%), Bajaj Auto (3.42%) and Apollo Tyres (1.25%).

The Bankex index was at 9,296.34, down by 406.39 points or by 4.19%. The major losers were Canara Bank(4.54%), Federal Bank (2.45%), Bank Of Baroda (2.2%), Bank Of India (1.74%) and Allahabad Bank (0.77%).

Market Breadth

Market breadth was negative with 340 advances against 2,603 declines.

Value and Volume Toppers

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,938.83 million. It was followed by Tata Steel (Rs. 1,870.17 million), Jai Corp (Rs. 1,513.86 million) and D L F (Rs. 1,206.36 million).

The volume chart was led by Unitech with trades of over 13.37 million shares. It was followed by Suzlon Energy (11.21 million), Rashtriya Chemicals & Fertilizers (8.85 million) and National Fertilizers (8.39 million).


Results
Infrastructure Development Finance Company (IDFC) reported a phenomenal rise in consolidated net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 46.20% to Rs 2,699.04 million from Rs 1,846.15 million in the same quarter last year. Consolidated total income has increased by 15.33% to Rs 9,978.92 million for the quarter ended Dec. 31, 2009 from Rs 8,652.597 million for the same period last fiscal.

India`s largest consumer goods maker Hindustan Unilever (HUL) reported a marginal rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 5.42% to Rs 6,491.10 million from Rs 6,157.40 million in the same period last year. Domestic consumer and FMCG sales grew 5%, driven by strong growth in Personal Products, Foods and Water. Underlying volume growth accelerated to 5% in the quarter. Total Income has increased by 4.53% to Rs 46,121.10 million for the quarter ended Dec. 31, 2009 from Rs 44,122.10 million for the quarter ended Dec. 31, 2008.

KEC International, a global leader in the project management business and an RPG group company, registered a major jump of 84.80% on consolidated basis for the quarter ended December 2009. The power equipment maker, consolidated net profit rose to Rs 463.3 million for the quarter ended Dec. 31, 2009. Net sales rose 7% to Rs 9,489.1 million for the third quarter ended Dec. 31, from Rs 8,868.4 million in the same period previous fiscal.

DB Corp


DB Corp

BSE Bulk Deals to Watch - Jan 27 2010


Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
27/1/2010 524412 Aarey Drugs ARCADIA SHARE & STOCK BROKERS PVT. LTD B 41000 46.95
27/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI B 48938 47.04
27/1/2010 524412 Aarey Drugs PATEL SONAL KIRITBHAI S 64507 48.14
27/1/2010 524412 Aarey Drugs VARSHABEN NAVINBHAI SONI S 54472 50.00
27/1/2010 517356 ACI Infocom SAGAR TEX CREATION PRIVATE LIMITED B 60356 13.99
27/1/2010 517356 ACI Infocom SAGAR TEX CREATION PRIVATE LIMITED S 75900 14.06
27/1/2010 517356 ACI Infocom DIVYA ALOK GUPTA S 175000 14.00
27/1/2010 531678 Anand Credit KAMLA BHANDRI B 40000 50.00
27/1/2010 531678 Anand Credit DARSHAK RAMESHCHANDRA SHAH B 40000 31.10
27/1/2010 531678 Anand Credit RAMESH CHANDRA VINAYCHAND SHAH B 41000 31.10
27/1/2010 531678 Anand Credit SUNDAR DASS AND SONS HUF B 35000 31.00
27/1/2010 531678 Anand Credit ANAND FINSTOCK SERVICES LTD S 800000 30.99
27/1/2010 531678 Anand Credit SHOBHNABEN R PARMAR S 111100 40.22
27/1/2010 531678 Anand Credit PANDYA YAMINIBEN M S 85000 38.52
27/1/2010 531678 Anand Credit LAXMAN DHIRUBHAI PARMAR S 68300 31.44
27/1/2010 531678 Anand Credit HETAL K PATEL S 209500 34.22
27/1/2010 533138 ASTEC EARTHSTONE ENERGY NATURAL RESOURCES LTD S 100000 75.00
27/1/2010 532380 Baba Arts ASHOK JOTUMAL THAWANI B 260000 11.90
27/1/2010 531591 Bampsl Sec KAUSHALYA GARG B 1030660 1.05
27/1/2010 531591 Bampsl Sec KAUSHALYA GARG S 1029759 0.97
27/1/2010 530249 Bridge Sec BHUPESH KASHINATH MEHTA B 40000 13.72
27/1/2010 530249 Bridge Sec DAXABEN VASANTKUMAR SHAH S 30000 13.73
27/1/2010 531216 Comfort Intech VIVEK KISHANPAL SAMANT S 800000 17.60
27/1/2010 505426 Dagger Forst OMPRAKASH DHARAMNARAYAN AGARWAL S 94204 12.65
27/1/2010 505232 Denison Hydr SNEHA DILIP VARIYA B 9000 323.05
27/1/2010 505232 Denison Hydr RUSHABH DILIP VARIYA B 9000 339.89
27/1/2010 505232 Denison Hydr SNEHA DILIP VARIYA S 9000 339.87
27/1/2010 505232 Denison Hydr RUSHABH DILIP VARIYA S 9000 323.05
27/1/2010 533055 EDSERV SOFT MANSUKH SECURITIES & FINANCE LTD B 60639 290.61
27/1/2010 533055 EDSERV SOFT MANSUKH SECURITIES & FINANCE LTD S 60639 290.85
27/1/2010 511668 Fact Enterprise COMFORT INTECH LIMITED B 75000 22.85
27/1/2010 511668 Fact Enterprise ANGEL INFIN PRIVATE LIMITED B 82107 22.85
27/1/2010 511668 Fact Enterprise ANGEL INFIN PRIVATE LIMITED S 140007 22.85
27/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. B 227425 68.18
27/1/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. B 39114 69.42
27/1/2010 590024 Fert & Chem Trv TRANSGLOBAL SECURITIES LTD. S 227425 68.53
27/1/2010 590024 Fert & Chem Trv LATIN MANHARLAL SEC.PVT.LTD. S 41114 69.37
27/1/2010 500145 First Leasing MEHTA NEMISH JAYKISHOR B 125335 59.89
27/1/2010 500145 First Leasing MEHTA NEMISH JAYKISHOR S 125335 60.55
27/1/2010 500145 First Leasing DIMPLE OBEROI S 129844 62.82
27/1/2010 513337 Gujarat Tool MAYUR DHWAJSINH SISHODIA B 27000 10.88
27/1/2010 501700 Indianivesh VIDHYA EQUIRESEARCH PVT LTD B 105250 646.38
27/1/2010 501700 Indianivesh EMERGING STAR INVESTMENT PVT L B 120000 646.39
27/1/2010 501700 Indianivesh AARTI SUNIL GANDHI S 180000 646.37
27/1/2010 532658 Indo Asian Fuse PKR HITECH INDUSTRIAL COPORATION LLP B 115000 66.80
27/1/2010 532658 Indo Asian Fuse VPM INDUSTRIAL CORPORATION LLP S 115000 66.80
27/1/2010 530259 Inter State Oil VSL SECURITIES PVT LTD B 38583 6.05
27/1/2010 530259 Inter State Oil GUJARAT NRE COKE S 32000 6.05
27/1/2010 504786 Investment & Prec PRATAP MADHAVJI DOSHI S 30000 145.00
27/1/2010 522183 ITL Inds SETU SECURITIES PVT LTD S 16595 70.26
27/1/2010 523467 Jai Mata Glass DHEERAJ KUMAR S 100000 2.42
27/1/2010 523467 Jai Mata Glass CAMPHAR SEC.& ADV.P.LTD. S 79954 2.53
27/1/2010 530955 Kailash Ficom SUNIL SHAH S 100000 79.50
27/1/2010 530255 KAY Power KAUSHALYA GARG B 331210 16.30
27/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. B 75255 16.09
27/1/2010 530255 KAY Power KAUSHALYA GARG S 114006 15.78
27/1/2010 530255 KAY Power BAMPSL SECURITIES LTD. S 56666 16.07
27/1/2010 530255 KAY Power SUNIL KUMAR GUPTA S 73032 16.10
27/1/2010 530255 KAY Power SUNDERDASS AGARWAL S 100150 16.37
27/1/2010 530255 KAY Power B.S.KHANDELWAL S 160000 16.35
27/1/2010 526379 Konkan Tyres MEENA INDRAMAL JAIN B 18783 9.68
27/1/2010 531515 Mahan Inds YOGENDRA RAJ SINGHVI S 400000 5.65
27/1/2010 531515 Mahan Inds SHASHI SINGHVI S 350000 5.64
27/1/2010 590111 MASTER P T N V AMBICA RAMASUDARSAN S 28250 52.46
27/1/2010 526538 Maximaa Sys MANISH KUMAR SINGHANIA B 100000 3.32
27/1/2010 517554 Midpoint Soft ANJAN DAS B 5907 50.00
27/1/2010 531453 Mohit Inds SHUCHI MEHTA S 25226 21.63
27/1/2010 531834 Natura Hue Chem AMI V KAPASI B 34257 43.07
27/1/2010 531834 Natura Hue Chem ASHOK RAMCHANDRA LALWANI S 30606 43.05
27/1/2010 532986 Niraj Cement J V STOCK BROKING PRIVATE LIMITED B 87928 48.57
27/1/2010 532986 Niraj Cement OMPARKASH GUPTA B 55584 47.10
27/1/2010 532986 Niraj Cement TAKESHI INVESTRADE P. LIMITED B 146502 49.27
27/1/2010 532986 Niraj Cement HARSH VARDHAN JAIN B 59841 48.42
27/1/2010 532986 Niraj Cement J V STOCK BROKING PRIVATE LIMITED S 89928 48.83
27/1/2010 532986 Niraj Cement TAKESHI INVESTRADE P. LIMITED S 146502 46.96
27/1/2010 532986 Niraj Cement HARSH VARDHAN JAIN S 59841 49.15
27/1/2010 531996 Odyssey Corp SURYA PRAKASH RATHI HUF B 25000 36.80
27/1/2010 531996 Odyssey Corp RENU AGRAWAL B 25000 36.75
27/1/2010 531996 Odyssey Corp R VENKATACHALAM S 85531 36.80
27/1/2010 524689 Parenteral Drug XITIJ INVESTMENTS B 100000 208.00
27/1/2010 524689 Parenteral Drug DHANANJAYA MONEY MANAGEMENT SERVICES PVT LTD S 100587 208.06
27/1/2010 511702 Parsharti Inv SONI KRUPA SANJAY B 17057 36.90
27/1/2010 511702 Parsharti Inv HULASIDEVI MANGILAL BOKADIYA B 20000 35.25
27/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED B 62972 37.06
27/1/2010 511702 Parsharti Inv HULASIDEVI MANGILAL BOKADIYA S 20000 37.70
27/1/2010 511702 Parsharti Inv AXIOM CAPITAL ADVISORS PRIVATE LIMITED S 62972 35.59
27/1/2010 530047 Rai Saheb Rekh PARRK PETROCHEM P LTD B 21100 110.00
27/1/2010 530047 Rai Saheb Rekh C S BUILDWELL PVT LTD S 27936 110.00
27/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA B 58563 31.21
27/1/2010 502587 Rama Pulp MAHIPAT IWDARMAL MEHTA S 53172 30.19
27/1/2010 502587 Rama Pulp OMPARKASH GUPTA S 44632 31.49
27/1/2010 590077 Ranklin Sol RAMESH KUMAR TUMMAPALA B 31525 56.10
27/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL B 346942 14.09
27/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR B 237139 14.02
27/1/2010 533083 RISHABHDEV FORT SHARE BROKING PVT LTD. S 250000 14.18
27/1/2010 533083 RISHABHDEV MOHAN LAL AGARWAL S 286442 13.80
27/1/2010 533083 RISHABHDEV BHAVISH DHIRAJLAL KHAKHKHAR S 227859 13.88
27/1/2010 533083 RISHABHDEV SARSWATI VINCOM LTD S 124117 13.22
27/1/2010 506172 Sampada Chem SUNIL BHAGWATLAL DALAL S 34800 48.16
27/1/2010 526510 Shakti Metdor VANITHA YERRAM B 64363 171.53
27/1/2010 526510 Shakti Metdor SITA MAMIDIPUDI S 65000 171.53
27/1/2010 511754 Shalibhadra Fin KALA HOLDINGS PRIVATE LIMITED B 48000 17.00
27/1/2010 512413 Spectacle Inds VIVEK KISHANPAL SAMANT S 300000 85.20
27/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED B 96761 478.68
27/1/2010 533121 THINKSOFT A K G STOCK BROKERS PRIVATE LIMITED S 96761 478.50
27/1/2010 532311 Tutis Tech SHINGAR DYES & CHEMICALS LTD B 100000 18.87
27/1/2010 531831 Unisys Soft SUNIL BAJAJ B 300000 13.40
27/1/2010 531831 Unisys Soft ARTI SINGAL B 200000 13.40
27/1/2010 531831 Unisys Soft DB (INTL) OWN TRADING S 320412 13.40
27/1/2010 531831 Unisys Soft RAJRATH MERCHANTS P LTD S 131070 13.40
27/1/2010 531831 Unisys Soft ASHOKKUMAR MOHANLAL RAWAL S 116576 13.40
27/1/2010 531249 Well Pack Papers SHOBHNABEN R PARMAR B 37949 409.11
27/1/2010 531249 Well Pack Papers LAXMAN DHIRUBHAI PARMAR B 46937 410.78
27/1/2010 531249 Well Pack Papers NAVNATH SAKHARAM GHONE B 24000 408.57
27/1/2010 531249 Well Pack Papers SHREEDHAR YELLAIAH KODAM S 24010 408.58
27/1/2010 530091 Zyden Gentec DEEPAK REAL ESTATEDEVE. I. P.L S 200000 2.70
* B - Buy, S - Sell

NSE Bulk Deals to Watch - Jan 27 2010


Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
27-JAN-2010,CAROLINFO,Carol Info Services Limit,SOLUTIONS FINQUEST FINANCIAL,BUY,404000,77.26,-
27-JAN-2010,EDSERV,Edserv Softsystems Limite,MANSUKH SECURITIES & FINANCE LIMITED,BUY,89441,291.87,-
27-JAN-2010,FIRSTLEASE,First Leasing Company ,OBEROI DIMPLE,BUY,41176,64.29,-
27-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,BUY,9547050,19.99,-
27-JAN-2010,IVRCLINFRA,IVRCL Infra & Proj Ltd,M & G INVESTMENT MANAGEMENT LTD A/C PRUDENTIAL IN,BUY,1635478,323.04,-
27-JAN-2010,POLYPLEX,Polyplex Corporation Ltd.,ASHISH DHAWAN,BUY,111634,200.03,-
27-JAN-2010,SREINTFIN,SREI Infrastructure Finan,ASHIKA CREDIT CAPITAL LIMITED,BUY,825000,80.74,-
27-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,108651,477.36,-
27-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,MADANLAL LIMITED,BUY,11835,4980.76,-
27-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,1191220,18.31,-
27-JAN-2010,ASTEC,Astec LifeSciences Ltd,ATHERSTONE ENERGY AND NATURAL RESOURCES LIMITED,SELL,100000,75.00,-
27-JAN-2010,CAROLINFO,Carol Info Services Limit,Bharat Patel,SELL,437273,72.85,-
27-JAN-2010,EDSERV,Edserv Softsystems Limite,MANSUKH SECURITIES & FINANCE LIMITED,SELL,89441,291.94,-
27-JAN-2010,FIRSTLEASE,First Leasing Company ,OBEROI DIMPLE,SELL,119394,62.45,-
27-JAN-2010,ISPATIND,Ispat Industries Limited,JAYPEE CAPITAL SERVICES LTD.,SELL,9527420,20.06,-
27-JAN-2010,IVRCLINFRA,IVRCL Infra & Proj Ltd,M & G INVESTMENT MANAGEMENT LTD A/C PRUDENTIAL IN,SELL,6952,313.57,-
27-JAN-2010,IVRCLINFRA,IVRCL Infra & Proj Ltd,THE PRUDENTIAL ASSURANCE COMPANY LIMITED A/C M & G INVESTME,SELL,1588176,321.98,-
27-JAN-2010,THINKSOFT,Thinksoft Global Ser Ltd,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,108651,478.15,-
27-JAN-2010,TIDEWATER,Tide Water Oil Co. (India,21ST CENTURY MNG SER LTD,SELL,9957,4980.01,-
27-JAN-2010,WWIL,Wire and Wireless (India),ADROIT FINANCIAL SERVICES PRIVATE LIMITED,SELL,1243871,18.34,-

Moody's raises Indian banking outlook to ‘stable'


Moody's has changed the fundamental credit outlook for the Indian banking system to stable from negative that was assigned in January 2009.The banking industry outlook has returned to stable on the back of favourable trends in India's economic indicators over the last few months.

The Indian economy and its credit cycle seem to have bottomed out and hence it is expected that any credit cost pressures for the banks would ease, going forward, although the volume of non-performing and restructured loans is not expected to come down significantly in the short-term, Moody's said in its latest update on Asian banking system industry outlook.

Moody's has changed to stable from the negative the industry outlook for 12 of the banking systems in Asia-Pacific. It has maintained negative outlook for four — Cambodia, Japan, Vietnam and Mongolia.

Besides India, the banking systems with stable outlook are Australia, China, Hong Kong, Indonesia, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan and Thailand.

As regards India's GDP growth this fiscal, Moody's has quoted that the economy may grow at around 7 per cent backed by buoyant industry growth and an upside in agriculture output.

However, it has noted that the management and the future performance of all those restructured loans in the banking system, estimated at 4.5 per cent of total loans, will drive the credit risk profile as well as the evolution of the Indian rated banks' financial fundamentals over the short-to-medium term.

Three factors underpinned the generally better outlook across most of Asia's banking systems. They are, improving local economic prospects and stabilising global conditions; and improving access to international debt and money markets.

Bears get overbearing


Today's major news

Hindustan Unilever’s net grew by 5% to Rs4,504.30 crore; the stock closes lower by 1.72%

IDFC’ Q3 net rises 39% to Rs240 crore; the stock sheds 2.77%

Edelweiss to acquire Anagram Capital; the stock slides 2.63%

India Infoline acquires Orient Global's stake in its unlisted subsidiaries; the stock tumbles 6.33%

GMDC’ Q3 net down 4.71%; the stock declines 7.07%

Click here for more stories

Post-market summary

Global signals

European indices were trading lower in early trades on Wednesday, with banks leading the chart of losers. At the time of writing this report FTSE 100 was down by 0.93%.

All the major Asian indices closed lower with the Shanghai Composite breaking 3000 level, closing at 2986. SGX Nifty fell 153 points.

US stock futures opened mixed on Wednesday with some caution expected ahead of the Federal Reserve interest rate decision later in the day.

Indian indices

Taking lead from the weak global markets and the quarterly review of the monetary policy scheduled on Friday (January 29, 2010) domestic indices extended their losing streak to fifth day on a row. Interest rate sensitive sectors like in realty, banking, and auto and metal shares combined with lower opening in European markets triggered a sell-off in the market. The Sensex that opened 72 points lower at 16708 (the day’s high), soon extend its losses and touched the day’s low of 16231. Nifty also breached the crucial 5000 and 4900 levels. At finishing line, the Sensex was at 16290, 491 points lower. Nifty closed 155 points lower at 4853.

Sensex sentiment

Declining stocks outnumbered advancing stocks. Of the 2,944 stocks traded on the BSE, 2581 stocks declined, whereas 338 stocks advanced. Twenty-five stocks closed unchanged.

Sectoral & stock screening

Bears were on prowl sparing none, with realty, metal and auto scrips hit the most with the BSE Realty down by 7.97%, BSE metal lower by 5.81% and BSE Auto hit by 4.78%. The remaining sector indices slipped between 0.71-4.19%.

On the stocks' front, Cadila Healthcare surged the most—by 7.08%—followed by Koutons Retail, which rose 4.34%, and Cummins India that jumped 2.63%. On the losers’ list, India Bulls Financial topped with a loss of 13.13%, followed by Gujarat NRE Coke, which slid by 12.28%, and Rashtriya Chemicals, which fell by 11.72%.

Viewing volumes

On a day when Indian markets witnessed the highest ever volumes, India’s second biggest realty company, Unitech, saw highest trading with over 1.33 crore shares changing hands on the BSE, followed by wind turbine major, Suzlon Energy (1.12 crore shares), public sector unit Rashtriya Chemicals (0.88 crore shares), Ispat Industries (0.79 crore shares) and Industrial finance company IFCI (0.52 crore shares).

Vascon Engineers IPO Review


Many revenue streams

The company earns from EPC services, reality development and also from hospitality, multiplexes, and rental income. But most of this is from Maharashtra

Vascon Engineers (VEL) is a construction company focused on verticals such as factories, hospitals, hotels, residential and commercial complexes (retail, office, IT park). The company, promoted In January 1986 by R Vasudevan, a civil engineer with vast experience, started as an EPC services player. But in 1998 it ventured into realty development. The company provides its EPC services for third parties as well as for its own and its other development entities.

As of December 31, 2009, VEL had completed 181 construction contracts worth Rs 888.87 crore, out of which 157 EPC contracts worth Rs 640 crore were for third parties. In terms of saleable area for its real estate development projects, VEL has constructed over 4.99 million square feet. In addition, it has sold land and land development rights aggregating 2.04 million square feet in saleable area. In 2008-09, the EPC services business accounted for about 86.3% of the operating income with the contribution from realty business at 5.5%, with the balance accounted for by revenue from hospitality, multiplexes, rental income, etc. However, the share of real estate increased to 13.7% in the H1 FY 2010 while that of EPC services stood at 81.4%.

VEL also owns, operates and manages certain hospitality and commercial projects subsequent to their completion. Currently, the company has equity stakes in six such projects. Of these, about 5 are hospitality projects. Three are operational, aggregating 183 keys, while the balance 2 are under construction. While the company wholly owns and operates the 47-room Vista Do Rio, a resort at Goa, it owns 43.83% and 50% equity stake through its subsidiaries and development entities in Royal Orchid Galaxy Resorts, a 65-room property in Goa, and Royal Orchids Golden Suites, a 71 studio and one bedroom service apartment complex in Pune, respectively. The two hospitality properties, which are under construction, are in Pune in Maharashtra. Of these, one will be operated under the Holiday Inn brand and the other through an entity in which VEL holds a 26% equity stake.

The company also has a 50% equity stake in Marigold Premises, which owns and operates the Mariplex mall and office complex. Additionally, the company is involved in developing a multi-level car parking for Delhi International Airport.

VEL currently holds 24% equity interest in Vascon Infrastructure, a company that intends to focus on infrastructure development such as roads in India. Moreover the company has also entered into a Memorandum of Understanding (MoU) with Kohinoor Cargo And Warehousing in Pune for acquiring 40% of the shares in Kohinoor for Rs 4.82 crore million on or before June 30, 2010. Kohinoor has represented that it has obtained permission from the Directorate of Industries, Government of Maharasthra, for purchase of 210.46 acres of land located at Karawadwai, Taluka Khandala, Satara, to establish industrial estate for small and medium enterprises. It proposes to acquire and develop such lands by the amount obtained through the sale of the 40% stake in Kohinoor to VEL. Similarly, it also signed an MoU with Rising Ventures, a partnership firm that owns 22 acres of land at Ahire in Satara, and proposes to acquire another 32 acres of contiguous land at Ahir itself for acquisition of 40% stake before June 30, 2009, at a cost of Rs 87 lakhs.

The proceeds from the issue will be used to meet the construction costs of two mall projects of the company, one each at Pune (Zenith) and Belgaum (Nucleus), amounting to Rs 115 crore, and repayment of debts amounting Rs 39.63 crore. The balance will be used for general corporate purposes and to meet issue expenses.

Strengths

Strong and diverse EPC order backlog of Rs 3227.08 crore spread over 70 projects/ contracts as of December 31, 2009. Of the total order backlog, about 37.6% (or Rs 1214.74 crore in 47 projects) are third party contracts and the balance 62.4% are captive contracts from the realty business, amounting to Rs 2012.34 crore, spread over 23 projects.

Strong EPC capability across various verticals/geography along with high quality delivery track record over the last three decades have given strong client base that includes names such as Cipla, Kirloskar Brothers, Suzlon and Symbiosis. About 37% of the third party order backlog is from verticals such as hospitals, educational institutions and urban infrastructure, where the downturn is minimal, bringing in much better business stability and visibility.

The company's realty business follows joint development/Joint venture business model, which minimizes the upfront cash outflow unlike the realty business model that involves outright purchase of land. This allows the company to put to use the cash in construction/ development of realty project rather than binding it in land. About 90% of the company's total land reserve of 55.36 million square feet of developable area is through joint development/joint venture, with the balance either owned or owned by subsidiaries.

Revenue stream of the company is diverse, i.e., income from EPC services, income from realty development and income through asset ownership (hospitality, multiplex, lease rentals). Strong EPC business and ramping up of non-realty and non-captive business recently have helped the company to insulate its revenue from the recent downturn of the realty industry in a better way. The share of the realty business to the total operating income, which was about 44% in FY 2008, crashed to 5.5% in FY 2009. But that was largely compensated by growth in the EPC business. Similarly, though the EPC business gives a low margin of around 12%, it gives steady growth. The realty business brings in the cream, given its high margin nature.

In its nearly 11 years of realty operation, it has built up strong brand and reputation, especially in Pune.

Weaknesses

A major portion of the company's current operation is geographically concentrated with the state of Maharashtra, which accounts for about 73.51% of the current order backlog spread over 70 ongoing EPC contracts and 84.58% of the realty space (developable) under development/ proposed to be developed. Of the total land reserve (developable space), about 44.58% is accounted by Pune and 34.2% is in Thane. The balance is largely in Tier II and Tier III cities such as Belgaum, Coimbatore, Madurai and Nashik etc. Though the realty market in the country has seen renewed demand especially in Tier I cities of Mumbai, National Capital Region of Delhi, Bangalore etc., the Pune market is still subdued and the heavy reliance of the company on the Pune market is a cause of concern. Similarly, the company's project mix of about 15.7 million square feet of commercial space out of its land reserve of 55.36 million square feet of developable space is a cause of concern as the commercial market is yet to pick up unlike the residential market, which rebounded on pent-up demand, at least in major Tier I markets. Moreover, the company's land holdings are largely in Tier II & III cities, where conditions are still subdued and heavy concentration of land reserve in this segment will not contribute much to the growth in near term.

The company's order backlog is largely made of fixed price contracts and, hence, any upward cost push in construction and input services will impact the margin affecting profitability.

One of the directors of the company i.e. Ameet Hariani, was the director of a company declared as a will-full defaulter by the RBI. There are 12 legal cases against Vasudevan R, the promoter of the company, including one criminal revision. But there is no monetary claim. Also, Sansara Hotels (India) has initiated an arbitration proceeding against the company, Marigold Premises, Just Homes (India) and Just Homes Associates on February 23, 2009 on the basis of a rescindment of a development agreement dated March 21, 2007.

VEL has signed a MoU with Sitalakshmi Mills for joint development of 28.2 acres at Pasumalai in Madurai and it has also picked up a 26% stake in the latter. However, Sitalakshmi Mills was subsequently declared sick and if the status does not change, the realty development project might be delayed.

Valuation

Income from operation of the company for the fiscal ended March 2009 stood at Rs 519.47 crore (down 16%) impacted by the realty downturn. Its net profit was lower by 49% to Rs 30.64 crore. The adjusted EPS for FY 2009 was Rs 2.1. However, the pick-up in demand for realty has improved the profitability of the company and thus annualized EPS for the half year ended September 2009 was Rs 5.2. On the price band of Rs 165-185, the P/E works out to 78.8 to 88.1 times of its FY 2009 earnings. However, the PE works out to 31.7-35.6 times of its annualized H1 FY 2010 earnings.

In comparison, Sobha Developers, which is a south based realty builder for third parties, quotes at a P/E of 25.9 times of its FY 2009 consolidated earning, and BL Kashyap, an EPC service player, quotes at a PE of 13.3 times of its FY 2009 consolidated earnings. Though the high margin and high realty business may give a push to the margin and profitability, the asking price seems steep compared to listed realty players as well as EPC service players of similar size.

Market extends losses for the sixth straight day


Key benchmark indices suffered a severe setback extending losses for the sixth straight day on weak global cues after markets resumed trade today after a holiday on Tuesday on account of Republic Day. The BSE 30-share Sensex plunged 490.64 points or 2.92%, off close to 420 points from the day's high and up close to 60 points from the day's low. The market breadth was extremely weak as small and mid-cap shares succumbed to selling pressure.

Shares from interest rate sensitive sectors - banking, realty and auto pack dominated the slide. Today's sell-off was wide-based with stocks across sectors being hammered brutally. IT and metal stocks were not spared either. Index heavyweight Reliance Industries slipped in highly volatile trade.

Sentiment remained edgy with latest quarterly earnings from select pivotals falling short of street estimates and following the recent selling drive by the foreign institutional investors. The S&P CNX Nifty dipped below the psychological 5,000 level.

Meawhile, the Finance Ministry has made a case for a uniform threshold for goods and services for Central GST (CGST) and State GST (SGST). The Revenue Department has suggested that this annual turnover threshold for registration could be Rs 10 lakh or more. Also, the Centre may come up with a composition scheme up to gross turnover limit of Rs 50 lakh if the threshold for registration is kept at Rs 10 lakh.

These suggestions formed part of the Revenue Department's comments to the first discussion paper on GST released by the States in November last year. India is looking to introduce dual GST.

The International Monetary Fund sharply raised its global economic growth forecast, casting developing countries in a leading role while rich nations struggle with high unemployment and government debt. In an update of its World Economic Outlook, the IMF said on Tuesday the world economy will expand by 3.9% in 2010, much higher than the 3.1% it projected in October, and the pace will pick up to 4.3% next year.

While an economic recovery appears to be gaining traction, the IMF warned the financial system remains fragile in the richer countries and banks will need a lot more capital. As a group, advanced economies are expected to expand 2.1% this year and 2.4% in 2011, the IMF said. The IMF revised up its growth forecast for emerging and developing countries by almost 1%age point to 6% in 2010 and higher to 6.3% in 2011. It said it was "pretty bullish" about India, where it sees the economy growing about 7.7% this year and 7.8% in 2011.

Global cues were negative with Asian and European markets sliding as investors turned cautious ahead of the conclusion of a two-day policy meeting by the U.S. Federal Reserve later in the day. This is the final meeting of Ben Bernanke's term as chairman of the Federal Reserve.

As the economy remains fragile, the statement from the Federal Open Market Committee (FOMC) is expected to be bland. The FOMC is not expected to make any change in the near-zero target Fed Funds rate which has been in effect since December 2008 or in its other programs which were designed to increase the flow of credit.

Global stock markets fell again on Wednesday, hitting their lowest in two months as investors fretted about a monetary squeeze from central banks around the world and also the impact of tightening U.S. banking regulation. In Europe, Key benchmark indices in UK, Germany and France were down by between 0.29% and 0.63%

Asian stocks fell for the eighth straight day on Wednesday on fears that China's heightened efforts to rein in soaring credit growth could hamper the global economic recovery. Key benchmark indices in Japan, Hong Kong, Singapore, South Korea, Taiwan and China were down by between 0.51% and 1.24%.

Asian stocks had suffered steep losses ranging from 2% to 3.5% on Tuesday, 26 January 2010, on the back of implementation of a clampdown on lending by China and cut in rating outlook on Japan by Standard & Poor's.

US markets were little changed on Tuesday, 26 January 2010, as news that the senate has scheduled a hearing on President Obama's bank proposal for next week rattled the market.

The Dow Jones industrial average was down 2.57, or less than 0.1%, to 10,194.29. The S&P 500 index was down 4.61 points, or 0.4%, to 1,092.17. The Nasdaq Composite Index was down 7.07 points, or 0.3%, to 2,203.73.

In economic data watch, consumer confidence hit its highest level since September 2008. Its measure of confidence ticked up to 55.9 from an upwardly revised 53.6 in December.

In other news, the national retail federation reported that retail sales are likely to rise 2.5% this year, after a 2.5% drop in 2009.

The US index futures were volatile. Trading in US index futures showed the Dow could gain 10 points at the opening bell on Wednesday, 27 January 2010.

Back home, the undertone remains cautious ahead of derivatives expiry, RBI's monetary policy and earnings from frontline companies.

Aggregate results of 757 Indian companies showed 48.10% advance in net profit on 18.5% rise in sales in quarter ended December 2009 over the quarter ended December 2008.

Equities are likely to remain volatile in a truncated week as traders roll positions in the derivative segment from January 2010 series to February 2010 series ahead of the expiry of the near-month January 2010 contracts on Thursday, 28 January 2010. Rollover so far is substantially lower at 36% from 49% on comparable day last month.

The Reserve Bank of India (RBI) will hold its quarterly monetary policy review on 29 January 2010 and is widely expected to increase the cash reserve ratio (CRR) requirements for banks, but economists are divided on when it will raise interest rates. CRR is the level of cash that banks must keep in deposit with the central bank.

A CRR increase would have little impact on market, as investors have mostly factored in at least a 25 basis points increase in banks' reserve requirement and steady interest rates. Increases in both the CRR and interest rates could however weigh on shares of banks as well as sectors such as auto and property on concerns loan demand may slow.

Core sector, which comprises six key infrastructure industries, grew 6% in December 2009, compared with 5.3% growth in November 2009. The growth, signifying a recovery in industrial manufacturing, was primarily led by an increase in the production of finished steel, cement and electricity last month. The core sector growth stood at 0.7% in December 2008, due to the economic slowdown.

The sector, which accounts for 26.7% of the index of industrial production (IIP), grew 4.8% in April-December 2009 period, against 3.2% in the corresponding period of 2008-09, the commerce and industry ministry data showed on 23 January 2010.

As per reports, the government is considering an across-the-board increase in excise duty in Budget 2010-11, as it faces pressure to withdraw fiscal stimulus measures in the wake of a 16-year high fiscal deficit of 6.8% in the current financial year. One option being considered is an increase in Cenvat rate by 2% while leaving the service tax rate unchanged at 10%, reports citing an unnamed finance ministry official indicated. Cenvat refers to the median excise duty, tax on manufacture of goods, levied on nearly 90% of the goods made in the country.

Also more services could be brought under the tax net to allow the government to keep service tax rates unchanged. An alternative proposal is also under consideration which seeks an increase in excise rates in sectors that are doing well such as automobiles, instead of an across-the-board hike.

As per provisional figures on NSE, the foreign funds sold shares worth Rs 1002.60 crore and domestic funds bought shares worth Rs 716.22 crore on Monday, 25 January 2010.

The BSE 30-share Sensex plunged 490.64 points or 2.92% to 16,289.82. The Sensex opened 71.86 points lower at 16,708.60, also its day's high so far. It lost 549.61 points at day's low of 16,230.85 in late trade.

The S&P CNX Nifty fell 154.80 points or 3.09% to 4853.10 as per provisional closing. The Nifty crashed below the psychological 5,000 mark to hit a low of 4833.05 in late trade

Weak global cues and a sustained selling spree by foreign investors have weighed on the market which extended its fall to the fifth trading session. From the recent high of 17,641.08 on 18 January 2010, the Sensex fell 1351.26 points or 7.65% to 16,289.82 on Wednesday, 27 January 2010.

The market breadth, indicating the overall health of the market, was weak. On BSE, 2580 shares declined as compared with 335 that rose. A total of 26 shares remained unchanged.

The markets today reported its highest ever turnover of Rs 1,82,984.16 crore including biggest ever NSE F&O turnover of Rs 1,58,503.98 crore. The NSE cash turnover was at Rs 18,715.98 crore and BSE cash at Rs 5,764.20 crore.The total turnover on BSE amounted to Rs 5759 crore higher than Rs 4843.58 crore on Monday, 25 January 2010.

The BSE Mid-Cap index fell 3.98% and the BSE Small-Cap index fell 5.06%. Both the indices underperformed the Sensex.

ITC was the lone gainer from the 30-member Sensex pack. Shares of India's largest cigarette maker by sales rose 0.39%, extending recent gains after posting 26.67% rise in net profit to Rs 1144.17 crore in Q3 December 2009 over Q3 December 2008. The company announced Q3 result during market hours on 22 January 2010.

But, India's largest FMCG major by sales Hindustan Unilever fell 1.72%. The company's net profit rose 5.4% to Rs 649 crore in Q3 December 2009 over Q3 December 2008.

Index heavyweight Reliance Industries (RIL) fell 1.52%. The company's net profit rose 15.77% to Rs 4008 crore on 89.77% surge in total income to Rs 57364 crore in Q3 December 2009 over Q3 December 2008. RIL said the results had been reworked and restated to include figures from Reliance Petroleum, which it absorbed last year. The company announced the Q3 result during market hours on 22 January 2010.

Metal stocks declined after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 0.81% on Monday, 25 January 2010.

India's largest private sector steel maker by sales Tata Steel slumped 8.48% ahead of its Q3 December 2009 results on Thursday, 28 January 2010. It was the top loser from the Sensex pack.

Jindal Saw, Sail, Sesa Goa and National Aluminum Company fell by between 2.78% to 7.73%.

India's largest private sector aluminium maker by sales Hindalco Industries declined 5.66% after net profit fell 21.60% to Rs 427.10 crore on a 29.56% increase in sales to Rs 5286.10 crore in Q3 December 2009 over Q3 December 2008.

India's largest non-ferrous metal firm by capacity Sterlite Industries India shed 4.04% after net profit slumped 77.16% to Rs 46.59 crore on a 39.83% increase in sales to Rs 3611.99 crore in Q3 December 2009 over Q3 December 2008.

Stocks from interest rate sensitive sectors were the worst hit in today's market meltdown. Auto stocks underwent profit booking after auto major Mahindra & Mahindra's earnings fell short of street expectations.

India's largest tractor maker by sales Mahindra and Mahindra (M&M) slumped 5.64%, extending Monday's over 5% slide after it reported lower-than-expected earnings for the latest quarter ended December 2009 during market hours on 25 January 2010.

M&M's net profit surged 849% to Rs 413.70 crore on a 56.32% rise in sales to Rs 4478.70 crore in Q3 December 2009 over Q3 December 2008. The result was announced during trading hours on Monday, 25 January 2010. Meanwhile, the company on Monday also approved a 2-for-1 stock split.

India's largest motorbike maker by sales Hero Honda Motors plunged 4.24%. After market hours on 25 January 2010, the company reported a 78.34% rise in net profit to Rs 535.77 crore on a 32.72% rise in sales to Rs 3814.42 crore in Q3 December 2009 over Q3 December 2008.

India's top truck marker by sales Tata Motors lost 6.8% ahead of its Q3 December 2009 earnings on 29 January 2010.

India's top small car maker by sales Maruti Suzuki India fell 5.28%.

Banking shares declined as investors turned cautious on rate sensitive stocks ahead of the Reserve Bank of India's (RBI) monetary policy review meet on 29 January 2010.

India's largest bank by net profit and branch network State Bank of India slumped 5.07% after the bank's net profit remained flat in the third quarter ended December 2009 to Rs 2,479 crore against Rs 2,478 crore in the year-ago period. Net interest income increased by 9.69% in the quarter under review compared with the same period in the previous fiscal. However, net interest margin declined to 2.82% from 3.10%.

India's second largest private sector bank by net profit HDFC Bank fell 3.66%. India's largest private sector bank by net profit ICICI Bank lost 4.98%.

Rate sensitive realty shares also declined ahead of the RBI's quarterly monetary policy review meet on 29 January 2010. DLF, Unitech, HDIL and Indiabulls Real Estate fell by between 5.18% to 10.61%.

High beta considered shares related to infrastructure sector extended recent fall. High beta stocks are highly volatile stocks which generally outperform benchmark index in a firm market and underperform it in a weak market.

Reliance Infrastructure, Larsen & Toubro, and Jaiprakash Associates fell by between 1.52% to 3.27%.

India's largest power equipment maker by sales Bharat Heavy Electricals fell 1.52%. Bharat Heavy Electricals said on Wednesday it would sign an agreement with the Madhya Pradesh state utility to jointly set up a 1,600 megawatts thermal power plant in the central Indian state.

IT stocks declined on fears the Obama administration's bank plan will crimp outsourcing demand. India's largest IT exporter by sales Tata Consultancy Services fell 1.62%. India's second largest IT exporter by sales Infosys fell 1.55%. India's third largest software services exporter Wipro lost 5.79%. Wipro said on Wednesday it signed a multi-year outsourcing deal with British American Tobacco Plc, the world's second-biggest cigarette maker.

Healthcare stocks fell on profit taking. Cipla, Dr Reddy's Laboratories, Sun Pharmaceutical Industries, Ranbaxy Laboratories fell by between 1.5% to 5.23%.

Cals Refineries clocked the highest volume of 2.72 crore shares on BSE. Unitech (1.33 crore shares), Suzlon Energy (1.12 crore shares), Rashtriya Chemicals & Fertilisers (0.88 crore shares) and National Fertilizer (0.83 crore shares) were the other volume toppers in that order.

State Bank of India clocked the highest turnover of Rs 193.88 crore on BSE. Tata Steel (Rs 187.01 crore), Jai Corp (Rs 151.38 crore), DLF (Rs 120.63 crore) and Reliance Industries (Rs 113.74 crore) were the other turnover toppers in that order.

Grey Market Premiums - Aqua Logistics, Jubilant Food Works


Company Name

Offer Price

(Rs.)

Premium

(Rs.)

Kostak

(Rs. 1 Lac Application)

Jubilant Food Works

135 to 145

20 to 21

--

Infinite Computer

165

33 to 35

--

Birla Shloka

45 to 50

Discount

--

Aqua Logistics

220 to 230

12 to 13

2050 to 2100

Syncom Healthcare

65 to 75

6 to 6.50

1950 to 2000

Thangamayil Jewellery

70 to 75

3.50 to 4

1850 to 1900

Vascon Engg.

165 to 185

20 to 21

1900 to 1950

D. B. Realty

468 to 486

22 to 23

--

Emmbi Polyarns

40 o 45

4 to 6

--

Daily Call - Jan 27 2010


US markets yesterday reversed their intraday gains as investors turned cautious before the Federal Reserve's policy announcement and President Barack Obama's State of the Union address on Wednesday night. Earlier, after a lower open, stocks rose on better than expected consumer confidence data and strong earnings from Apple. The consumer confidence index rose to 55.9 in January, its highest level since September 2008.

Our markets are likely to open lower as they factor in sharp cuts in Asian markets ranging from 2% to 3.5% in yesterday’s trade on the back of implementation of a clampdown on lending by China and cut in rating outlook on Japan by Standard & Poor's. Added to that we will have pressure from derivatives side where rollover so far is substantially lower at 36% versus 49% on comparable day last month. While FIIs bought index futures worth Rs. 235 cr on Monday, provisional selling of 1003 cr in cash segment is discomforting. Among the results to watch out for will be DLF, SAIL, PNB, BoB and NALCO.

Results to be Announced Today - Jan 27 2010


Companies

PAT (Rs In Crs)

YoY%

ADANI ENTERPRISES LIMITED

373.8

23.70%

BANK OF BARODA

650

-8.20%

CARBORUNDUM UNIVERSAL LTD

27.8

69.50%

DABUR INDIA LTD

143

31.80%

DLF LIMITED

394.7

-42.10%

EMCO LIMITED

11.2

36.30%

EVERONN EDUCATION LIMITED

11.3

43.00%

HINDUSTAN PETROLEUM CORPORATION LTD.

-327.5

Vs Loss of Rs 422 Crs.

JYOTHY LABORATORIES LIMITED

19

41.00%

LANCO INFRATECH LIMITED

128.6

Vs Profit of Rs 48 Crs.

MAHARASHTRA SEAMLESS LTD

55.3

-13.70%

NAGARJUNA CONSTRUCTION CO. LTD

51.3

41.30%

NATIONAL ALUMINIUM COMPANY LIMITED

143.5

-34.60%

ORBIT CORPORATION LIMITED

26.1

Vs Profit of Rs 3.05 Crs.

PATEL ENGINEERING LIMITED

35.3

-11.06%

PUNJAB NATIONAL BANK

1082

7.50%

STEEL AUTHORITY OF INDIA LTD.

1257

49.10%

THE INDIAN HOTELS COMPANY LIMITED

69.1

-27.60%

TORRENT PHARMACEUTICALS LTD.

74.8

-11.50%

TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED

9.9

6.45%

UNION BANK OF INDIA

520

-22.60%

ADANI POWER LIMITED

ALCHEMIST LTD

APTECH LIMITED

ATUL LTD.

BANNARI AMMAN SUGARS LTD

BINANI CEMENT LIMITED

BINANI INDUSTRIES LIMITED

BLUE STAR INFOTECH LIMITED

BOMBAY DYEING & MFG CO. LTD

CENTURY ENKA LTD

CENTURY EXTRUSIONS LIMITED

CENTURY TEXTILES & INDUSTRIES LTD

DATAMATICS GLOBAL SERVICES LIMITED

DEWAN HOUSING FINANCE CORPORATION LTD

EIH LIMITED

EL FORGE LIMITED

ENERGY DEVELOPMENT COMPANY LIMITED

EVEREST INDUSTRIES LIMITED

FCS SOFTWARE SOLUTIONS LIMITED

FDC LTD.

FIRSTSOURCE SOLUTIONS LIMITED

FUTURE CAPITAL HOLDINGS LIMITED

GABRIEL INDIA LTD

GARDEN SILK MILLS LTD.

GENUS POWER INFRASTRUCTURES LIMITED

GLOBAL VECTRA HELICORP LIMITED

GOKALDAS EXPORTS LIMITED

GUJARAT MINERAL DEVELOPMENT CORPORATION

HIMACHAL FUTURISTIC COMMUNICATIONS

HINDUJA GLOBAL SOLUTIONS LIMITED

HINDUSTAN MOTORS LTD.

HINDUSTAN OIL EXPLORATION CO. LTD

HINDUSTAN ORGANIC CHEMICALS LTD

INDOCO REMEDIES LIMITED

INGERSOLL RAND (INDIA) LTD.

JM FINANCIAL LIMITED

KALYANI STEELS LTD

KANSAI NEROLAC PAINTS LIMITED

KCP SUGAR AND INDUSTRIES CORPORATION LTD.

KEI INDUSTRIES LIMITED

MADRAS FERTILIZERS LTD

MANALI PETROCHEMICAL LTD

MM FORGINGS LTD.

MUNJAL SHOWA LTD

NATCO PHARMA LIMITED

NOCIL LIMITED

PREMIER LIMITED

RAJ TELEVISION NETWORK LIMITED

RPG CABLES LTD

SHIV-VANI OIL & GAS EXPLORATION SERVICES

Rs 54.3crore

10.1%

SHREE GANESH FORGINGS LIMITED

SILICON VALLEY INFOTECH LTD.

SIMBHAOLI SUGARS LIMITED

SOLAR INDUSTRIES INDIA LIMITED

STANDARD INDUSTRIES LIMITED

SUVEN LIFE SCIENCES LIMITED

THE OUDH SUGAR MILLS LTD

TIME TECHNOPLAST LIMITED

TIPS INDUSTRIES LIMITED

TITAGARH WAGONS LIMITED

TRENT LTD.

WEST COAST PAPER MILLS LTD