Current news & Rumours in the mkt

praveen taneja

Well-Known Member
#2
Corporate News Headline
• Tata Motors has sold 20% stake in Telcon, its construction equipment joint venture with Japan's Hitachi, to its partner for Rs. 11.59 bn. Post the transaction, Tata Motors will own 40% in Telcon, while Hitachi will have 60%, the company said in a statement. (BS)
• Larsen & Toubro has bagged orders worth Rs. 11.26 bn for various construction related works. The company has secured these orders from various vendors, including Sterlite Industries India and Tata Steel, L&T said in a filing to the BSE. (BS)
• Cairn India can produce up to 2,40,000 barrels per day from its prolific Rajasthan fields, equivalent to output from the nation's largest oilfield of Mumbai High, the company has informed the government. (BS)
 

praveen taneja

Well-Known Member
#3
Economic and Political Headline
• Pranab Mukherjee pitched for imparting fresh impetus to economic recovery to quickly revert to the 9% growth rate and cross the double-digit growth barrier. (BS)
• Confidence among US consumers climbed in March as Americans perceived employment was starting to improve. The Conference Board's confidence index rose to 52.5 from 46.4 in February, the group's report showed. (Bloomberg)
• Home prices in 20 US cities unexpectedly rose in January, indicating the housing market is stabilizing as the economy expands. The S&P/Case-Shiller home-price index climbed 0.3% from the prior month on a seasonally adjusted basis, matching the gain in December, the group said in New York. (Bloomberg)
 

praveen taneja

Well-Known Member
#4
Domestic sugar prices continue to slide:


According to the National Commodities and Derivatives Exchange Limited (NCDEX), spot sugar price (S Grade) in the Kolkata market as of March 22, 2010 was ~Rs3,000 per quintal (inclusive of excise duty), which on our estimate, is close to the breakeven price for millers with average sugarcane cost of ~Rs250 per quintal. Interestingly, even as the reported price is ~Rs3,000 per quintal,


Channel checks suggest that sugar is trading at Rs2,900 per quintal with millers aggressively offloading imported sugar. Surprisingly even potential inventory pipeline re-stocking is unable to support domestic sugar prices at these levels.


Investors may look to play the potential bounce; risk/reward may not be favorable:
While many investors hold a cautious longer-term view, they also believe that sugar stocks are oversold and they are positioned to play a potential short-term bounce in sugar
 

praveen taneja

Well-Known Member
#6
Corporate News Headline
• Larsen & Toubro has bagged orders worth Rs.10.2 bn for construction related works. The company has secured a design and build order worth Rs. 5.66 bn from software firm Cognizant Technologies Solutions India for construction of their IT campus at Chennai. (BS)
• Cairn India said its Rs. 50 bn domestic borrowing programme to fund oil fields development in Rajasthan has been assigned the highest grade by rating agency CARE. (BS)
• Tata Motors has retired USD 345 mn debt by offering its foreign currency bondholders the option to convert earlier at a reduced conversion price. (BS)
 

praveen taneja

Well-Known Member
#7
Economic and Political Headline
• India's fiscal deficit shot up over 23% to Rs. 3.80 tn in the first eleven months of this fiscal mainly because of the overruns due to the stimulus measures taken by the government during the slowdown last year. (BS)
• Business activity in the US expanded in March for a sixth straight month, a private report showed. The Institute for Supply Management-Chicago Inc. said that its business barometer fell to 58.8 from a February reading of 62.6 that was the highest since April 2005. (Bloomberg)
• European inflation accelerated more than economists forecast on higher oil prices, while the unemployment rate reached double-digits for the first time since 1998. Consumer prices in the 16-nation euro region increased 1.5% in March from a year earlier, the European Union statistics office said. Unemployment rose to 10% in February, the highest rate since August 1998, a separate report showed. (Bloomberg)
 

praveen taneja

Well-Known Member
#8
operators suggest caution aftr 10th april in the mkt !;)
FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
FII 31-Mar-2010 2778.13 2344.61 433.52
DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores)
Category Date Buy Value Sell Value Net Value
DII 31-Mar-2010 1425.37 1781.95 -356.58

DII and MF selling for the last 15days contradict that:thumb:
 

praveen taneja

Well-Known Member
#9
NSE currency segment is close due to the Annual Closing of Banks so no
reports will be released from the currency segment today.
 

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