Nifty opened gap up of 77 points at 5894 on the dovish tone of Mr. Ben Bernanke. The FOMC meeting minuted clearly indicated that there is no hurry to wind up the QE exercise. The markets bypassed the 5910 resistance with quite ease. The rest of the day was just building on morning gains. The markets tested the resistance of 5950 levels and was sold off. Today nifty broke the triangle in which it was consolidating for past seven days. The pattern target lies at around 6030 levels. Tomorrow morning markets will have Infy results and IIP data in the evening, which will provide the direction for markets.
The support for nifty is at 5910-5870-5845 and the resistance lies at 5965-6010-6055. Nifty July
Future has been trading at 6-7 points premium to the spot. The implied
volatility on the Nifty
July Options of ATM strike calls were at 15.31 and for puts were at
20.33. India VIX closed at 18.89. PCR for Nifty based on open interest
was at 1.52 and PCR for the day based on volumes was at 1.12 for the
market.
Cash Market:
FII 2527.29 - 1889.03 = 638.26 Cr.
DII 842.71 - 1077.32 = (234.61) Cr.
FII Derivatives Market:
| In Cr. | buy | sell | net |
| INDEX FUTURES | 3207.57 | 1671.39 | 1536.18 |
| INDEX OPTIONS | 13515.82 | 12004.84 | 1510.98 |
| STOCK FUTURES | 1480.55 | 1517.69 | -37.14 |
| STOCK OPTIONS | 1043.81 | 1325.09 | -281.28 |
Corporate Action:
| Ex-Date | Company | Purpose |
| 12-Jul-13 | Blue Dart Express Limited | Annual General Meeting And Dividend Rs 71 Per Equity Share |
| 12-Jul-13 | Edelweiss Financial Services Limited | Annual General Meeting And Final Dividend Re.0.10 Per Share |
| 12-Jul-13 | Dewan Housing Finance Corporation Limited | Annual General Meeting / Final Dividend - Rs 3/- Per Share |
| 12-Jul-13 | Eveready Industries India Limited | Annual General Meeting |
| 12-Jul-13 | MindTree Limited | Annual General Meeting / Final Dividend - Rs 5/- Per Equity Share |
| 12-Jul-13 | EID Parry India Limited | Annual General Meeting |
| 12-Jul-13 | Panchsheel Organics Limited | Annual General Meeting And Dividend Re.0.50 Per Share |
| 12-Jul-13 | Techno Electric & Engineering Company Limited | Annual General Meeting/Dividend Rs 3/- Per Share |
| 12-Jul-13 | Dr. Reddy's Laboratories Limited | Annual General Meeting And Dividend Rs.15/- Per Share |
| 12-Jul-13 | Tata Elxsi Limited | Annual General Meeting / Dividend - Rs 5/- Per Share |
| 12-Jul-13 | Mahindra Ugine Steel Company Limited | Annual General Meeting |
| 12-Jul-13 | Parrys Sugar Industries Limited | Annual General Meeting |
| 12-Jul-13 | JSW Energy Limited | Annual General Meeting / Final Dividend Rs.2/- Per Equity Share |
| 12-Jul-13 | Thangamayil Jewellery Limited | Annual General Meeting/Dividend Rs 5/- Per Equity Share |
| 12-Jul-13 | Cheslind Textiles Limited | Annual General Meeting |
| 12-Jul-13 | CCL Products (India) Limited | Annual General Meeting/Dividend Rs 5/- Per Share |
Stocks In News:
Results today Infosys , South Indian Bank , Sintex Industries
Oil Minister M Veerappa Moily -Sought more oil import from Iraq against 20 MTPA (million tonne per annum) now
-No question of reviewing decision on gas pricing
-Gas price formula will be applied uniformly
-No proposal to cap natural gas prices
-Govt not mulling any change in new gas price regime
-Indicative gas price for April-June 2014 is USD 6.83/mmbtu
-Market calculation of USD 8.4/MMBTU incorrect
Mangalore Chemicals and Fertilizers (CMP Rs 68, up 10 percent)
-Zuari Agro buys 30 lakh shares i.e. 2.5 percent stake at Rs 68/share
-2.5 percent stake for a total outgo of Rs 20.4 crore
-Post the move stake in company at 16 percent
-Reliance Capital sells 15 lakh shares i.e. 1.3 percent stake at Rs 68/share
(No mention of Reliance Capital holding in March SHP filing)
Elder Pharma :
-Board okay’s plan for restructuring operations to reduce debt
-Company to raise capital via hiving off assets/other strategic options
-Sanofi top bidder for Elder Pharma biz ET
Apollo Tyres CFO to CNBC-TV18:
-No question of rethinking on Cooper Tire deal
-'Did our homework well before announcing Cooper Tire deal'
-Raised debt limit last year for expansion plans
Alert: Company had raised debt limit to USD 830 million from USD 530 million in April 2012
-Expect commodity price to moderate going forward
-Expect significant increase in rubber supply over next few years
-Additional supply of rubber will keep prices soft
-Rubber prices in Southeast Asia remain at record lows
Alert: Analysts feel any hike in rubber costs to hurt company margin
-Leverage taken for acquisition split across entities
-These entities have cash flows to service the debt
Cipla has come under the scanner of the regulator for failing safety and efficacy tests: BS
-Samples of Cipla’s Ibugesic 200 and 400 picked up by drug inspectors last month were found to be of substandard quality
-Regulator is likely to take action against the firm
HPCL signs joint venture with Rajasthan to set up Rs 37,230 crore refinery at Barmer
HPCL says -In JV with Rajasthan government to set up 9 mtpa refinery at Barmer
-Company and Rajasthan government to hold 74 percent and 26 percent stake respectively
Hindustan Media Ventures (CMP Rs 115.5, down 9.5 percent)
Offer for sale (OFS) subscribed one time
- HT Media divests 19.39 lakh shares in Hindustan Media Ventures
-19.4 lakh represents 2.64 percent of the equity share capital of Hindustan Media Ventures
-HT Media holds 76.94 percent stake in Hindustan Media Ventures
-Final indicative price was at Rs 120/share same as the floor price
HDIL versus MIAL case likely to be taken up today -Case was yesterday postponed till today
Ex-Dividend
- Dr Reddys Labs - Rs 15/share
- Blue Dart Rs 71/share
Other stocks and sectors that are in news today:- Wockhardt : UK's Medicines and Healthcare products Regulatory Agency (MHRA) issues precautionary recall of medicines manufacturing by company: Reuters
-Liberty Media in talks for stake buy in Bharti DTH ET
- KEI Industries allots 35 lakh equity shares at Rs 14/share and 35 lakh warrants at Rs 14/warrant on preferential basis
Textiles Minister to CNBC-TV18:
-Will write-off principal amount for handloom sector loans
-Working on total interest waiver for handloom sector loans
-Will address labour issues in textile sector
-Handloom sector loan write-off could be about Rs 3,400 crore
-Hiked textile export target to USD 43.5 billion from USD 36 billion for FY14
-Raised textile sector labour issues in cabinet
-Spoke to banks on financing problems of textile sector
-'We have potential to overtake China in textile exports'
-Will allow women to work in night shift in textile units
-Visited all major textile centres since taking charge
-Interacting with all sections of textile industry
Tata Chemicals MD to CNBC-TV18:
-GOI's move to keep gas input rate separate for urea companies positive
-Awaiting details from finance ministry on how input price to be decided
-Power companies being given priority on gas allocation a concern
-Urea industry must be given gas on first priority
-Govt should not have tried and tested policy for urea industry
-Diverting gas from urea industry to impact local production by 3 mt
-Have raised our concerns with govt
Results today Infosys , South Indian Bank , Sintex Industries
Oil Minister M Veerappa Moily -Sought more oil import from Iraq against 20 MTPA (million tonne per annum) now
-No question of reviewing decision on gas pricing
-Gas price formula will be applied uniformly
-No proposal to cap natural gas prices
-Govt not mulling any change in new gas price regime
-Indicative gas price for April-June 2014 is USD 6.83/mmbtu
-Market calculation of USD 8.4/MMBTU incorrect
Mangalore Chemicals and Fertilizers (CMP Rs 68, up 10 percent)
-Zuari Agro buys 30 lakh shares i.e. 2.5 percent stake at Rs 68/share
-2.5 percent stake for a total outgo of Rs 20.4 crore
-Post the move stake in company at 16 percent
-Reliance Capital sells 15 lakh shares i.e. 1.3 percent stake at Rs 68/share
(No mention of Reliance Capital holding in March SHP filing)
Elder Pharma :
-Board okay’s plan for restructuring operations to reduce debt
-Company to raise capital via hiving off assets/other strategic options
-Sanofi top bidder for Elder Pharma biz ET
Apollo Tyres CFO to CNBC-TV18:
-No question of rethinking on Cooper Tire deal
-'Did our homework well before announcing Cooper Tire deal'
-Raised debt limit last year for expansion plans
Alert: Company had raised debt limit to USD 830 million from USD 530 million in April 2012
-Expect commodity price to moderate going forward
-Expect significant increase in rubber supply over next few years
-Additional supply of rubber will keep prices soft
-Rubber prices in Southeast Asia remain at record lows
Alert: Analysts feel any hike in rubber costs to hurt company margin
-Leverage taken for acquisition split across entities
-These entities have cash flows to service the debt
Cipla has come under the scanner of the regulator for failing safety and efficacy tests: BS
-Samples of Cipla’s Ibugesic 200 and 400 picked up by drug inspectors last month were found to be of substandard quality
-Regulator is likely to take action against the firm
HPCL signs joint venture with Rajasthan to set up Rs 37,230 crore refinery at Barmer
HPCL says -In JV with Rajasthan government to set up 9 mtpa refinery at Barmer
-Company and Rajasthan government to hold 74 percent and 26 percent stake respectively
Hindustan Media Ventures (CMP Rs 115.5, down 9.5 percent)
Offer for sale (OFS) subscribed one time
- HT Media divests 19.39 lakh shares in Hindustan Media Ventures
-19.4 lakh represents 2.64 percent of the equity share capital of Hindustan Media Ventures
-HT Media holds 76.94 percent stake in Hindustan Media Ventures
-Final indicative price was at Rs 120/share same as the floor price
HDIL versus MIAL case likely to be taken up today -Case was yesterday postponed till today
Ex-Dividend
- Dr Reddys Labs - Rs 15/share
- Blue Dart Rs 71/share
Other stocks and sectors that are in news today:- Wockhardt : UK's Medicines and Healthcare products Regulatory Agency (MHRA) issues precautionary recall of medicines manufacturing by company: Reuters
-Liberty Media in talks for stake buy in Bharti DTH ET
- KEI Industries allots 35 lakh equity shares at Rs 14/share and 35 lakh warrants at Rs 14/warrant on preferential basis
Textiles Minister to CNBC-TV18:
-Will write-off principal amount for handloom sector loans
-Working on total interest waiver for handloom sector loans
-Will address labour issues in textile sector
-Handloom sector loan write-off could be about Rs 3,400 crore
-Hiked textile export target to USD 43.5 billion from USD 36 billion for FY14
-Raised textile sector labour issues in cabinet
-Spoke to banks on financing problems of textile sector
-'We have potential to overtake China in textile exports'
-Will allow women to work in night shift in textile units
-Visited all major textile centres since taking charge
-Interacting with all sections of textile industry
Tata Chemicals MD to CNBC-TV18:
-GOI's move to keep gas input rate separate for urea companies positive
-Awaiting details from finance ministry on how input price to be decided
-Power companies being given priority on gas allocation a concern
-Urea industry must be given gas on first priority
-Govt should not have tried and tested policy for urea industry
-Diverting gas from urea industry to impact local production by 3 mt
-Have raised our concerns with govt
Stocks In Ban Period:
Nil
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