24th April 2008 KRC Market Flash
News Update:
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Aventis Pharma to export paracetamol to Australia this yr onwards
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Parsvnath to launch 13,200 sq m housing project in Jamnagar
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Bombay Rayon arm to buy Italian co’s retail ops
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Hindustan Zinc cuts lead price by Rs 2,800/tn; zinc Rs 2,400
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Parsvnath launches housing, mall project in Jamnagar
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Gayatri Projets gets 6 orders worth Rs 967.9 mn
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AVT Natural ends sale pact with US horticultural co
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Sterlite Tech gets Rs 2.96 bn orders from Power Grid Corp
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RIL to drill 3 new production wells in KG Basin MA field
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RIL has found oil from MA field in KG Basin’s D6 Block
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DGH OKs Reliance Ind development plan for KG Basin MA field
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BSE to exclude S Kumar Nationwide from mid-Cap, 500 indices Thu
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Unitech’s arm gets spectrum in Tamil Nadu including Chennai
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Sun Pharma arm gets US nod to market anti-cancer drug iriontecan
FII activity for 23/04/08: Net Sellers of Rs. 276.39 Crs. in Index Futures, Net Buyers of Rs 637.35 crs in Index Options, Net Sellers of Rs 230.71 Crs. in Stock Futures and Net Buyers of Rs 5.49 Crs in Stock Options.
Opening Market Review: Markets are likely to be volatile with no clear bias. Nifty (market) is strong above weak below: 5037; Sensex: 16720; Nifty Rest: 5070-5117; Supt: 4990-4957; Sensex Rest: 16850-17001; Supt: 16568-16438. Buying (Trading) opportunities exist in AIA Eng, Birla Corp, Bombay Dyeing, Century Text, EKC, Lupin, Tata Motors, Tata Steel, GBN. Cash buying in Grasim, Hind Unilever, Jindal Saw, HCC, Hind Zinc. Nifty April Fut. strong above/weak below: 5047; Rest: 5077-5111; Support: 5013-4983.
Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com
Email: customercare@krchoksey.com / eservices@krchoksey.com
Sona Koyo Steering System Ltd. (SKSSL)
Sona Koyo Steering System Ltd. (SKSSL)
KR Choksey Stock Recommendation
Q4FY08 Result Update
Key Data
CMP Rs 44.75
Date April 23rd 2008
Sector Auto ancillary
Face Value Rs.2
BSE Code 520057
52 Week H/L Rs 74/ 36
Market Cap Rs 431 Cr
Investment Rationale
Sona Koyo Steering System Ltd. (SKSSL) is the largest manufacturer of steering gears in India with market share of over 50 percent. The company at present has three manufacturing facilities at Chennai, Nashik and Gurgaon with combined capacity of over 1.5 million units. The company intends to double the capacity through greenfield plants at Singur, Uttaranchal and Bawal in Haryana over next 3-4 years. The company derived nearly 53 percent of revenue from Maruti Suzuki India Ltd and top 6 clients contribute nearly 90 percent of top line. The company has reported 17.8 percent growth in net sales to Rs683.60 crore in FY08 whereas the net sales for Q4FY08 registered a growth of 10 percent to Rs194.30 crore. The full year EPS of the company declined by 12.7%. This was partly on the back of rising input cost and partly due to equity dilution. However the company is expected to pass on the rise in input cost to its customers and also obtain better pricing from its vendors in the coming time.
The company has formed a (49:51) JV with JTEKT of Japan to serve the steering system requirement for small cars up 1500 CC segments. The proposed JV would be focused to the clients like Tata Motors, Toyota and Nissan etc. The company would be investing Rs160 crore for greenfield facility at Bawal in Haryana, the proposed JV is expected to contribute approx Rs320 crore in the topline from FY11 onwards.
23rd April 2008 KRC Market Update
Market Commentary
|
|
No. of Scrips |
Value (Crs.) |
|
Advances |
581 |
7000 |
|
Declines |
642 |
8095 |
|
Unchanged |
17 |
173 |
|
Total |
1240 |
15269 |
Market Activity: Indices were up around 0.3% in early trade, on the back of gains in key Asian markets that reversed losses made earlier in the session. Trade was choppy a day before expiry of April futures contract.
At 10.10AM, Sensex was at 16835.38, up 52.04 points, or 0.30%. Nifty was at 5066.70, up 17.15 points, or 0.35%.
Idea Cellular and Infosys Technologies, up nearly 3% each, were top gainers on Nifty. Unitech and Larsen & Toubro gained 2% each. Satyam Computer Services and HDFC Bank, down around 3% each, were major laggards on Nifty. SAIL fell 3% and Tata Steel was down 2% after the companies agreed to keep product prices unchanged for two-three months.
In the mid trading session, indices gave up gains to fall nearly 1% as banking, steel, and capital goods shares fell. Market was up around 0.5% earlier. At 11.30AM, Sensex was at 16664.88, down 118.99 points, or 0.7%. Nifty was at 5021.20, down 30 points, or 0.6%. SAIL, down nearly 7%, was the worst hit on Nifty, while Tata Steel fell 3% as they agreed to keep product prices unchanged for two to three months. HDFC Bank was down 4%, while ICICI Bank and Bharat Heavy Electricals fell 3% each. Real estate and technology shares bucked the weak trend. Unitech, up 3%, and Wipro, up 2%, were top Nifty gainers.
Share indices ended nearly 1% lower after a volatile session ahead of April futures contract expiry Thursday. Sensex was at 16698.04, down 85.83 points. Nifty was at 5022.80, down 26.50 points. SAIL was down 6% at Rs 173, while Idea Cellular and HDFC Bank were down around 5% each. Infosys Technologies up over 3% and Unitech up 2% were top gainers on Nifty.
23rd April 2008 KRC Market Update
Click here to read 23rd April, 2008 KR Choksey Stock Market Update up to 2.30pm.
Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com
Email: customercare@krchoksey.com / eservices@krchoksey.com
Koutons Retail (India) Ltd - KRC Stock Recommendation
Koutons Retail (India) Ltd
Initializing Coverage
Key Data
|
CMP |
Rs 766.05 |
|
Date |
April 22nd 2008 |
|
Sector |
Retail |
|
Face Value |
Rs.10 |
|
BSE Code |
532901 |
|
52 Week H/L |
Rs 1098/ 515 |
|
Market Cap |
Rs 1417 Cr |
Investment Rationale
The Company was incorporated on November 25, 1994 as Charlie Creations Private Limited. The company name was changed to Koutons Retail India Private Limited with effect from February 7, 2006. The company has an integrated apparel manufacturing and retail company in India engaged in the business of designing, manufacturing and retailing apparel under the ‘Koutons’ and ‘Charlie Outlaw’ brands through a network of 999 exclusive brand outlets (as of August 20, 2007) across India.
22nd April 2008 KRC Post Market Analysis
Market Commentary
|
|
No. of Scrips |
Value (Crs.) |
|
Advances |
676 |
9761 |
|
Declines |
546 |
5721 |
|
Unchanged |
23 |
33 |
|
Total |
1245 |
15515 |
Market Activity: Indices were down around 0.2% tracking the fall in overseas markets, but off the 1% low hit at the open.
At 10.10AM, Sensex was at 16710.47, down 28.86 points or 0.2%. Nifty was at 5030.75, down 6.40 points or 0.1%.
Reliance Industries was flat compared with 1% decline earlier. The company Monday reported Jan-Mar net profit of Rs 39.1 bn in line with market estimates. TCS was down over 7% as the company’s Jan-Mar net profit was below market expectations. The stock was the worst hit on Nifty. Satyam Computer Services fell 4%, while Wipro was down 3%. Kiri Dyes and Chemicals listed at Rs 184 on NSE, against an issue price of Rs 150. The stock was trading at Rs 190.
In the mid trading session, indices rose slightly, as key European markets were coming off lows. Earlier market was down 1% on weak Asian cues. Trade was choppy as investors rolled over positions ahead of expiry of the April futures contract Thursday. At 1.10PM, Sensex was at 16780.04, up 40.71 points, or 0.3%. Nifty was at 5052.50, up 15.60 points, or 0.3%. NALCO and Unitech, up 4% each, were top Nifty gainers. DLF, Zee Entertainment Enterprises, and BHEL gained 3% each. The small and midcap indices were, however, still holding on to marginal gains. Coromandel Fertilizers was up over 5% on Jan-Mar earnings. Technology shares extended fall from earlier in the session. Tata Consultancy Services was down 10% as Jan-Mar earnings were below estimates. HCL Technologies and Satyam Computer Services were down around 5% each.
Indices ended up around 0.3%, but off the 1% low hit earlier in the session. Sentiment was aided as key European markets recouped losses made in early trades. Sensex provisionally ended at 16783.87, up 44.54 points. Nifty closed at 5049.30, up 12.30 points. Technology shares were the worst hit on Nifty as investors took profits after Tata Consultancy Services Monday reported below-expected Jan-Mar earnings. Tata Consultancy Services, down 11%, was the worst hit on Nifty. Satyam Computer Services and HCL Technologies were up around 5% each. BHEL, up 6%, Unitech, and Idea Cellular, up 5% each, were other major Nifty gainers. Debutante Kiri Dyes and Chemicals ended at Rs 157 after listing at Rs 184 against an issue of Rs 150.
22nd April 2008 Market Updates By KRC
Click here to read 22nd April, 2008 KR Choksey Stock Market Update up to 02.30pm.
Kisan Ratilal Choksey Shares and Securities Pvt. Ltd.
1102, Stock Exchange Tower, Dalal Street, Mumbai 400 001
Phone: 91-22-56338050 / 66965555. Fax: 5633 8060
Members: BSE & NSE
www.krchoksey.com
Email: customercare@krchoksey.com / eservices@krchoksey.com
22nd April 2008 Market Outlook By Angel Broking
Dealer’s Diary
The Indian stock market advanced for fifth straight day mirroring gains in global counterparts to post decent rise, shrugging off a steep 50bp hike in CRR announced by the RBI. Both the benchmark indices, Sensex and Nifty, ended with a gain of 1.6%. The BSE Midcap and BSE Smallcap were the show stealers as they outperformed the benchmark indices gaining 2.2% and 2.6% respectively. Metal shares staged a strong comeback after the recent correction. Banking shares rose taking the hike in CRR in their stride. However, IT pivotals retracted from day’s high hit in early trade on profit booking. Among the frontliners, Bharti Airtel, Ranbaxy, REL Com, Jaiprakash Associates and Tata Steel gained 4-8.5%, while TCS, ITC, Wipro, Infosys and Satyam lost ground by 1-2%. In the mid-cap segment, Mercator Lines, Biocon, Adhunik Metal, Praj Industries and Dsh TV gained 11.5-17%, whereas Mindtree, Infotech Enterprise, Onmobile, TV 18 and Orchid Chem lost 4-11%.
Markets Today
The trend deciding leve l for the day is 4944 / 16483 .NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally upto 4999 / 16569 . However, if NIFTY trades below 4944 / 16483 for the first half-an-hour of trade then it may correct upto 4904 - 4849 /16395 – 16310. Read More.
For more stock tips, share market information and news, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630
Sun TV Network Ltd - KRC Stock Recommendation
Sun TV Network Ltd
Initiating Coverage
Key Data
CMP Rs 296.60
Date April 21st 2008
Sector Media & Entertainment
Face Value Rs.5
BSE Code 532733
52 Week H/L Rs 1779/ 260
Market Cap Rs 11783 Cr
Investment Rationale
Sun TV follows a unique business model with regards to sourcing content as compared to its competitors. Most of the content is sourced in house and for its outsourced content, it brings down the cost by selling advertisement time slots to its content providers instead of buying the content outright. This helps the company follow a low cost content sourcing model and helps it maintain high operating margins. Sun TV sources close to 75% of its content requirement in house – 40-45% is movie based, 8-10% is news and the rest is game shows, talk shows and variety shows. Movie and movie related content generates high viewer ship in South India. The Sun Network has acquired around 80% of the movies which are released in southern India. It has a library of 8,000 movie titles and holds perpetual rights for close to 95% of its movies. Sun TV Network has presence across genres like general entertainment, movies, music, and news, except in Kerala, where it offers only general entertainment and movies. We believe that a bouquet of offerings spanning the above genres adds to viewer stickiness. The company has added a new channel, Chutti TV, positioned as the first Tamil kids channel. Chutti TV has been a big hit – its TRP ratings (4.75%) are higher than some of the Tamil GECs.
21st April 2008 Post Market Analysis
Market Commentary
|
|
No. of Scrips |
Value (Crs.) |
|
Advances |
979 |
10960 |
|
Declines |
253 |
2832 |
|
Unchanged |
11 |
23 |
|
Total |
1243 |
13815 |
Market Activity: Share indices rose nearly 2% as firm cues from overseas markets helped investors shrug off Thursday’s 50-basis-point hike in banks’ cash reserve ratio.
At 10.15AM, Sensex was at 16765.49, up 284.29 points or 1.7%. Nifty was at 5043.90, up 85.85 points or 1.7%.
All Sensex and Nifty shares rose. Interest rate sensitive sectors such as banking, realty and auto were resilient to the CRR hike. Housing Development Finance Corp gained 4%, while DLF was up 2%. Technology shares extended gained after Wipro and Satyam Computer Services‘ Jan-Mar earnings. Wipro was up 4% and Tata Consultancy Services gained 3%. Satyam Computer was up over 1%. Titagarh Wagons listed at its issue price of Rs 540 on NSE. The stock was trading at Rs 69.
In the mid trading session, indices were up over 1% but off the 2% high made earlier in the session on some profit taking. At 1.15PM, Sensex was at 16676.62, up 195.42 points, or 1.2%. Nifty was at 5024.45, up 65.80 points, or 1.3%. Firm trend in Asian markets and optimism ahead of Reliance Industries’ Jan-Mar earnings helped sentiment here. However, most key European markets opened slightly weak, with the exception of FTSE 100 that was trading up 0.3%. Shares of metal and capital goods companies were top gainers on Nifty. Tata Steel was up 5.5% and Larsen & Toubro gained over 2%, while ABB was up 1%. Technology shares retreated as the rupee rose against the dollar. Satyam Computer Services and Infosys Technologies fell 1% each. Zee Entertainment Enterprises, down 2.5%, and GAIL, down 1%, were other major Nifty laggards.
Share indices ended nearly 2% up in line with other key Asian markets, with Nifty ending above 5000 for the first time since the Union Budget on Feb 29. Market did not react to the 50-basis-point hike in banks’ cash reserve ratio as it was factored into share prices. Sensex ended at 16739.33, up 258.13 points. Nifty ended at 5037.00, up 78.60 points. Capital goods and bank shares were top gainers on Nifty. ABB ended up 5% and HDFC Bank was up 4%. Zee Entertainment Enterprises down 4%, and Satyam Computer Services down 2%, were the worst hit on Nifty.
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