Nifty Daily For 25th July 2013

                  Owing to overnight policy decision by the central bank, the local indices  opened down with a gap and the weakness persisted throughout the day. With today being the last day of July F&O expiry much of the trends will be stock specific in nature. The intraday supports in Nifty are placed at 5960 and 5910, while the resistances for the day are seen at 6015 and then at 6060.

            Nifty August Future has been trading at 46-47 points premium to the spot. The implied volatility on the Nifty August Options of ATM strike calls were at 15.22 and for puts were at 16.97. India VIX closed at 16.91. PCR for Nifty based on open interest was at 1.29 and PCR for the day based on volumes was at 1.13 for the market.

 

Cash Market:

FII                      2871.92 - 3276.42 = (404.5) Cr.

DII                     1384.44 - 1713.24 = (328.8) Cr.

FII Derivatives Market:

in cr.	buy	sell	net
INDEX FUTURES	5375.89	4894.66	481.23
INDEX OPTIONS	20377.41	19267.78	1109.63
STOCK FUTURES	7980.47	8655.71	-675.24
STOCK OPTIONS	1188.75	1084.88	103.88

Corporate Action:

Ex-Date	Company	Purpose
25-Jul-13	Aksh Optifibre Limited	Annual General Meeting
25-Jul-13	Fresenius Kabi Oncology Limited	Annual General Meeting
25-Jul-13	Zee Learn Limited	Annual General Meeting
25-Jul-13	Rajapalayam Mills Limited	Annual General Meeting And Dividend Re.1/- Per Share
25-Jul-13	Apollo Hospitals Enterprise Limited	Annual General Meeting And Dividend Rs.5.50 Per Share
25-Jul-13	Bajaj Corp Limited	Annual General Meeting
25-Jul-13	Sundaram Brake Linings Limited	Annual General Meeting
25-Jul-13	Bharat Gears Limited	Annual General Meeting / Dividend - Rs 1.80/- Per Share
25-Jul-13	Advance Metering Technology Limited	Annual General Meeting
25-Jul-13	Rossell India Limited	Annual General Meeting/Dividend Rs 0.50/- Per Share
25-Jul-13	Divi's Laboratories Limited	Annual General Meeting/Dividend Rs 15/- Per Share
25-Jul-13	Deepak Fertilizers and Petrochemicals Corporation Limited	Annual General Meeting/Dividend Rs 5.50/- Per Share
25-Jul-13	Arshiya International Limited	Annual General Meeting
25-Jul-13	Bombay Burmah Trading Corporation Limited	Annual General Meeting And Dividend Rs.3/- Per Share
25-Jul-13	GTN Industries Limited	Annual General Meeting
25-Jul-13	Orient Cement Limited	Final Dividend - Rs 2/- Per Share
25-Jul-13	Honda Siel Power Products Limited	Annual General Meeting/Dividend Rs 4/- Per Share
25-Jul-13	Saksoft Limited	Annual General Meeting/Dividend Rs 2/- Per Share
25-Jul-13	JK Lakshmi Cement Limited	Annual General Meeting And Dividend Rs.2.50 Per Share
25-Jul-13	Jyothy Laboratories Limited	Annual General Meeting/Dividend Rs 2.50/- Per Share
25-Jul-13	Cummins India Limited	Annual General Meeting / Final Dividend Rs.8/- Per Equity Share
25-Jul-13	Ramco Systems Limited	Annual Book Closure
25-Jul-13	Lumax Industries Limited	Annual General Meeting / Dividend - Rs.4.50/- Per Equity Share
25-Jul-13	Crompton  Greaves Limited	Annual General Meeting And Final Dividend Re.0.40 Per Share (Purpose Revised)

Stocks In News:**

Results Today - ITC , Maruti Suzuki, ACC  , GAIL India , IOB , Sterlite Industries, Bata India , Biocon , TTK Prestige , M&M Financial , Muthoot Finance , SKS Microfinance , Strides Arcolabs, MRF , Piramal Enterprises , Raymonds, Thermax , Torrent Power , Tata Metaliks , Shriram City Union, Containers Corporation, Dhampur Sugar , Granules India , Kalpataru Power , Kalyani Forge , Kansai Nerolac , Mahindra Ugine , Tata Jewels, Wendt India

Ambuja Cements  - ACC Deal:
-Ambuja to acquire 24 percent stake in Holcim India for Rs 3,500 crore
-Holcim India to be merged into Ambuja via all stock merger
-Ambuja to issue 58.4 crore shares to Holcim
-Holcim to hold 61.39 percent stake in Ambuja post deal
-Ambuja to own 50.01 percent stake in ACC post deal
-Citi advisor to Holcim; Axis Capital advisor to Ambuja
-Holcim India’s 9.76 percent shareholding in Ambuja to stand cancelled
-Proposed merger swap ratio: 6.6 Ambuja shares for 1 ACC share

Ambuja-ACC Deal: Ambuja Cements MD
- Merger of Holcim India will be a 2 step process
-Deal will unlock significant synergies between both companies
-Looking at synergies in areas of logistics & supply chain
-Capital will be put to better use
-Will retain both brands & management teams
-Will seek shareholder nod to hike stake further in Ambuja
-'It is an attractive deal for minority shareholders'
-Transaction will add to earnings of Ambuja immediately
-Holcim not in need of cash
-Not planning to raise any debt for financing working capital
-ACC has cash balance of over Rs 3,000 crore
-Replacement cost to be in range of USD 130-160/tonne

Former Ambuja MD Anil Singhvi:
-Holcim wouldn't have gone for deal if it did not need cash
-Deal structured to facilitate cash to Holcim
-'Ambuja MD today spoke more as Holcim spokesperson'
-Deal simply to take money out from Ambuja at a premium
-Ambuja has not increased capacity in last 5 years
-Deal done at a premium to current valuations
-Deal will not be EPS accretive as company dilutes close to 30 percent
-'Deal is nothing but fraud on minority shareholders'

Elder Pharma  may sell India formulations business for USD 400-450 million: Sources Say: Reuters
-Sanofi's arm in talks to buy Elder's formulations biz

Wockhardt  Says: (stock down 20 percent yesterday)
-Have already initiated taking corrective measures
-Have appointed a US-based consultant at Waluj plant
-Consultant to work with company to address issues raised by US FDA
-Committed to achieve full compliance at the earliest

Telecom Disputes Settlement and Appellate Tribunal (TDSAT) stays Rs 650 crore notice on Bharti Airtel  : Sources
-Notice for allegedly violating licence norms on Subscriber Local Dialing (SLD) services
Alert: Notice pertaining to service of SLD to subscribers between 2002-2005
-TDSAT asks DoT not to take any coercive action in matter
-TDSAT to take up matter at next hearing on August 21
Alert: Bharti Airtel refuses to comment of CNBC-TV18’s query

Bajaj Auto  says:
-Around 798 workers reported to work
-To produce 1,900 vehicles at Chakan & 1100 Pulsars at Waluj today
-Achieved 100 percent requirement of Pulsar, Avenger & KTM

Govt sources say:
-Wastage & value add norms unchanged for 4 years
-Norms need to be revisited once again
-Suitable adjustment will restrict imports

Jindal Power says:
-Expanding capacity at Tamnar plant by 2,400 MW
-To invest Rs 13,500 crore on Tamnar plant expansion
-Tied up Rs 5,418 crore loan so far for Tamnar expansion
-Tied up loan for 1,200 MW phase-I Tamnar expansion

Other stocks and sectors that are in news today:- Diamond Power  approves allotment of bonus shares in ratio of 1:3

Hero MotoCorp Q1:
-Net profit at Rs 548 Crore Versus Rs 615.4 Crore (YoY)
-Total income at Rs 6,159 Crore Versus Rs 6,247.3 Crore (YoY)
-EBITDA at Rs 915 Crore Versus Rs 936.4 Crore (YoY)
-OPM at 14.9 percent Versus 14.9 percent (YoY)
Alert: Hero MotoCorp margins in-line with expectations
Hero MotoCorp says:
-PAT down due to higher tax rate on account of tax benefit expiry
-PBT margins held despite de-growth in volume

Ambuja Cements Q2:
-Net profit at Rs 324 Crore Versus Rs 468.9 Crore (YoY)
-Net sales at Rs 2,346 Crore Versus Rs 2,566 Crore (YoY)
-EBITDA at Rs 492 Crore Versus Rs 722.3 Crore (YoY)
-EBITDA margin at 21 percent Versus 28.2 percent (YoY)

Cairn India  Q1:
-Consolidated net profit at Rs 3,127 Crore Versus Rs 2,564 Crore (QoQ)
-Consolidated net sales at Rs 4,063 Crore Versus Rs 4,363 Crore (QoQ)
-Consolidated EBITDA at Rs 2,909 Crore Versus Rs 3,258 Crore (QoQ)
-Consolidated EBITDA margin at 71.6 percent Versus 74.7 percent (QoQ)
-Consolidated forex gain at Rs 682 Crore Versus Loss Of Rs 2.8 Crore (QoQ)
Cairn India Q1:
-Rajasthan block profit share to government Rs 1,054 Crore
-Royalty on Rajasthan block output Rs 873 Crore

Novartis India  Q1:
-Net profit at Rs 13.8 Crore Versus Rs 27 Crore (YoY)
-Net sales at Rs 219 Crore Versus Rs 215.3 crore (YoY)

Central Bank of India  Q1
-Net profit at Rs 22 Crore Versus Rs 336 Crore (YoY)
-NII at Rs 1,538 Crore Versus Rs 1,377.6 Crore (YoY)
-Gross NPA at 6.03 percent Versus 4.80 percent (QoQ)
-Net NPA at 3.85 percent Versus 2.90 percent (QoQ)
-Provisions at Rs 983.3 Crore Versus Rs 445 Crore (QoQ)
-NIM unchanged at 2.68 percent (QoQ)
Central Bank says
-Slippages at around Rs 2,000 Crore
-Core deposits grew by 32 percent YoY

Mahindra Lifespace Q1:
-Consolidated net profit at Rs 21.8 crore Versus Rs 19.3 crore (YoY)
-Cons income from operations at Rs 176 crore Versus Rs 121 crore (YoY)

SKF India  Q1:
-Net profit at Rs 45.8 Crore Versus Rs 46.6 Crore (YoY)
-Net sales at Rs 560.2 Crore Versus Rs 576.7 Crore (YoY)

Stocks in Ban Period:

NIL

Source:moneycontrol.com , nseindia.com