Author Archives 
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INDIA TELECOMMUNICATIONS (MORGAN STANLEY)
Quick Comment: Impact on our views. Reliance Communication is launching an all-India plan with an outgoing call charge of Rs0.5/min; irrespective of point of termination or origination, as long as it is within India with a one-time entry fee of approximately Rs50. Although this is clearly the simplest plan and in our view the cheapest one for the consumer, we thin
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ONGC (CITI)
FY10-11E earnings up 26-32% — Earnings factor in new mechanism now, i.e. LPG/SKO losses borne by Govt and petrol/diesel borne by upstream resulting in nil net under-recoveries for OMCs. Accordingly, we factor in zero subsidies in FY10-11E given that petrol/diesel generate +ve margin at Citi’s crude forecast of US$60 (FY10E) and US$65 (FY11E).
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MARKET REVIEW OCTOBER 7, 2009 (ANAGRAM)
Yesterday’s recovery proved short lived as after opening on a positive note, markets saw a sharp selloff in the noon trade and closed nearly 1% down in today’s trade. Sensex lost 151 points to close at 16806, while Nifty ended at 4985, down 41 points. BSE Mid-cap and Small-cap indices, however, gained 1.4% and 0.5% respectively. IT Stocks were under pressure as rupee continued to strengthen against the dollar, touching a level of 46.49 intraday, the highest since Sept. 26, 2008
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INSIDER TRADING OCTOBER 7, 2009
As per the regulations Insider means any person who is or was connected with the company or is deemed to be so connected and who is reasonably expected to have access, by virtue of such connection to unpublished price sensitive information, in respect of such securities of such company. A person is deemed to be a connected person if such a person is a group company
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FINANCIAL SYSTEM
A financial system plays a vital role in the economic growth of a country. It intermediates with with the flow of funds between those who save a part of their income to those who invest in productive assets. It mobilizes and usefully allocate scarce resources of a country.
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MONEY MARKET AND CAPITAL MARKET
1. Often, financial institutions actively involved in the capital market and are also in the capital market. 2. Funds raised in the money market are used to provide liquidity for longer-term investment and redemption of funds raised in the capital market
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MONEY MARKET
A money market is a market for short term debt instruments (maturity below one year). It is highly liquid market wherein securities are bought and sold in large denominations, to reduce transaction costs. Call money market, certificate of deposits, commercial paper, and treasury bills are the major instruments/segments of the money market.
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FINANCIAL MARKETS
Financial markets are an important components of the financial system. A financial market is a mechanism for the exchange trading of financial products under a policy framework. The participants in the financial markets are the borrowers (issuers of securities), lenders (buyers of securities), and financial intermediaries. Financial markets comprises two distinct types of markets:
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DAILY MARKET NEWS HIGHLIGHTS
Nifty climbs above 5050; Sterlite, SAIL, BHEL up
Unitech, Hindustan Oil, can give a trading bounce today: Modern Shares
ONGC in talks to buy stake in Iran gas field
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MARKET PREVIEW OCTOBER7, 2009
Market view: – Volatile.
Sector-specific: Bank stocks appearing positive.
Stock-specific: Can Bank, IDFC, REC Ltd, SAIL appearing positive while Chennai Petro negative.
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RETAIL SECTOR (ICICI SECURITIES)
‘Retail Counter’ is a quarterly update, in which we analyse domestic sales trends of FMCG companies based on ACNielsen’s retail audit data.
ACNielsen’s FMCG retail sales audit figures for July-August ’09 indicate 14.2% YoY sales growth, lower than 16.3% in Q1FY10. We attribute this to lower inflation and a high base.
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MARKET REVIEW OCTOBER 6, 2009
In today’s market, late buying demand in FMCG, metal and banking shares helped key benchmark indices register decent gains after a steep intra-day slide. Firm global stocks and expectations of strong Q2 September 2009 results aided a strong intraday rebound. High volatility was the hallmark of the day’s trading session. The BSE Sensex rose 92.13 [...]
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INDIA STRATEGY (MORGAN STANLEY)
■ The Debate: Will Private Corporate Capex Recover Soon? Most investors reckon that infrastructure capex is likely to rise in the coming three to five years. This is one of the strongest themes in India, and accordingly industrial stocks have outperformed the market year-to-date by nearly 30%. However, the jury is still out on whether private corporate capex (which was the key reason behind the peak in……
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INDIAN IT SERVICES 2QFY10 PREVIEW (CITI)
■ Previewing a better quarter — We expect some uptick in revenue growth, with tier-I companies reporting ~2-3.5% sequential growth in revenues. Margins are expected to be largely stable (except Infosys, if the guided investments happen). Focus will be on management commentary given the sharp rally in stock prices YTD, which already prices in fair amount of growth, in our view.
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INSIDER TRADING OCTOBER 6, 2009
As per the regulations Insider means any person who is or was connected with the company or is deemed to be so connected and who is reasonably expected to have access, by virtue of such connection to unpublished price sensitive information, in respect of such securities of such company. A person is deemed to be a connected person if such a person is a group company
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DAILY MARKET PREVIEW OCTOBER 6, 2009
US markets closed in the positive and Asian markets on a mixed note. Asian stocks rose for the first time in four days, led by companies reliant on overseas sales after U.S. service industries returned to growth following 11 months of contraction, and gain in commodity prices. As expected, markets corrected yesterday due to poor global cues. We believe that any dips from the current level should be used as an opportunity to enter the market. For the day, we expect buying at lower levels.