Global Markets
1. S&P witnessed a rise last week snapping its 6 week losing streak on the back of positive new regarding Greece debt crisis. SP Chart
2. US Dollar lost some steam last week as US economic slowdown fears increase. US Dollar Chart
3. Crude prices slumped to a 4 month low last week on dimmer economic outlook and European debt crisis. Crude Oil Chart
4. Gold prices on the rise due to growing uncertainty regarding global economic growth. Gold Chart
Economy
5. India and Mauritius will soon review a three-decade-old taxation treaty, misused by many Indian and multinational companies to avoid paying tax or to route illicit funds. Stock markets reacted negatively to the news as 42% of India’s FDI flows have come from Mauritius.
6. April FDI inflow jumps by 43% to USD 3.1 Billion on investments in services, construction and auto sectors.
7. Continuing with its anti-inflationary stance, the Reserve Bank of India (RBI), in its mid-quarter policy review, hiked repo and reverse repo rates by 25 basis points (bps) each.
8. Advance tax payments for the Indian Industry rose by 45% form months April to June giving hope that the corporate sector is in good health despite fears of a slowdown in economic growth.
9. India’s foreign exchange reserves declined by $2.40 billion to $310.50 billion for the week ended June 10 from $312.90 billion in the previous week due to a sharp drop in the value of foreign currency assets.
Indian Markets
10. Nifty witnessed a steep fall last week due to RBI hike in interest rates, weak global cues and profit booking on index heavyweights. Nifty Chart
11. FIIs purchase shares worth a net Rs. 877 cr in the month of June to date; Domestic funds bought shares worth a net Rs 19218.6 cr for the same period.
Sectors
12. India's steel consumption grew by 1.8% in April this year to 5.030 million tonnes from 4.943 million tonnes in the same month a year ago on increased demand from infrastructure and automotive sectors.
13. The CAG has rapped oil ministry and its technical arm DGH for allegedly favouring Reliance industries (RIL) by allowing it to double KG-D6 gas field's cost, in the process causing massive loss of revenues for the government.
14. Maruti Suzuki put an end to the 13 day strike at its Manaser plant. Maruti has agreed to reinstate all 11 sacked employees. The striking staff will lose salary only for a few days and not for the entire duration of the strike. But the carmaker has not taken a decision on recognizing the new workers union. Production loss at the carmaker so far is estimated to be over. 600 crore, with over 13,200 units less produced.
15. The Indian biotech and life sciences industry recorded the fastest pace of growth in the last five years in 2010-11 to touch revenues of USD 4 billion The Biotech industry derived 51% of overall revenues from exports. Biocon retained its position as the No. 1 company, with overall revenue growing at a healthy 26%.
16. The auto industry is going through a tough time. Demand is already on the slide adding to this the industry feels that the increase in interest rates by the RBI will dampen demand further depending on how much of the hike banks will pass on the consumers.
Stocks
17. GTL stock crashed 62.3% to close at Rs. 127.8 its lowest in 5 years on news of liquidity cirisis and pullout of a major Mauritian shareholder. GTL stock Chart
18. Bharti Airtel adds 2.245 Million mobile users in the month of May taking its total to 167 million users thus maintaining its position as India’s largest mobile services provider. Bharti Airtel Chart
19. Glenmark gets USDA approval for generic oral contraceptives thus giving it access to the American market. Glenmark Chart
Quotes
20. “Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” –Donald Trump
June 21, 2011
June 14, 2011
T20 June 14th-2011
Global Markets
1. S&P falls due to fears of an economic slowdown and release of weak economic data. SP Chart
2. US dollar gains during the week due to softening of oil prices and pullback in most major currencies. US Dollar Chart
3. Crude prices slump on back of negative outlook on the US economy leading to fall in demand. Crude Oil Chart
4. Gold prices falls to a 3 week low on sales by investors to cover equity losses. Gold Chart
Economy
5. Government to extend tax break for exporters by prolonging to life of the Duty Entitlement Passbook (DEPB) Scheme beyond 30th June, 2011 deadline.
6. India’s forex reserves rose by USD 2.9 Billion to USD 312.9 Billion on the back of a healthy jump in foreign currency assets for week ended 3rd June.
7. India’s exports grew by 56.9% to USD 25.9 Billon YOY in May, 2011 on account of increase in demand from western markets. Imports also went up by 54.1% to USD 40.9 Billion.
8. As per the new series Index of Industrial Production (IIP) grew by 6.3% in April. According to the old index production grew by 4.4% in April compare to 7.3% in March. The new IIP series was dragged down by mining, electricity generation and consumer goods segments.
9. Food inflation up to 9.01% for the week ended May 28th, 2011 on the back of expensive fruits, onions and protein based items.
10. Desperate to reduce India’s fiscal deficit, the government of India yet again deferred the decision of raising prices of diesel, kerosene and cooing gas as it deals with a political crisis.
Indian Markets
11. Nifty negative due to weak global markets and disappointing IIP figures. Nifty Chart
12. FIIs purchase shares worth a net Rs. 1729.2 cr in the month of June to date; Domestic funds bought shares worth a net Rs 10597.9 cr for the same period.
Sectors
13. The cement sector has been witnessing continuous disappointment in demand which has resulted in drop in cement prices over the month and is likely to see further decline with the onset of monsoon.
14. Car sale rose 7% in May, 2011 the slowest in 2 years due negative factors such as rising interest rates and fuel costs. Key trigger for the industry will be the RBI’s monetary policy next week as a further interest rate hike can further slow sales growth.
15. India’s two wheeler industry is likely to grow at a CAGR of 12% on the back of good demand and steady GDP growth according to the ICRA.
16. State owned oil firms may hike petrol prices by about Rs. 0.50 per litre as last months increase in rates is not enough to cover cost of raw materials (Crude oil). The price hike is expected to be from midnight June 15th and 16th.
Stocks
17. Maruti Suzuki already struggling due to sluggish sales is set to take another hit due to continued strike at its Manesar plant in the form of millions of dollars in losses and spill over to other plants. Maruti Suzuki Chart
18. Idea Cellular reported a net profit of RS. 275 Cr registering a growth of 13% over the previous quarter. Idea Cellular Chart
19. Punj Lloyd gets Rs. 678 Cr contract from Nuclear Power Corp for critical nuclear piping work. Punj Lloyd Chart
Quotes
20. “You can take of a man's money, but when it's all said and done, you've only taken his money. When you take of a man's time, you've taken a part of his life.” -- Wayne Newton.
1. S&P falls due to fears of an economic slowdown and release of weak economic data. SP Chart
2. US dollar gains during the week due to softening of oil prices and pullback in most major currencies. US Dollar Chart
3. Crude prices slump on back of negative outlook on the US economy leading to fall in demand. Crude Oil Chart
4. Gold prices falls to a 3 week low on sales by investors to cover equity losses. Gold Chart
Economy
5. Government to extend tax break for exporters by prolonging to life of the Duty Entitlement Passbook (DEPB) Scheme beyond 30th June, 2011 deadline.
6. India’s forex reserves rose by USD 2.9 Billion to USD 312.9 Billion on the back of a healthy jump in foreign currency assets for week ended 3rd June.
7. India’s exports grew by 56.9% to USD 25.9 Billon YOY in May, 2011 on account of increase in demand from western markets. Imports also went up by 54.1% to USD 40.9 Billion.
8. As per the new series Index of Industrial Production (IIP) grew by 6.3% in April. According to the old index production grew by 4.4% in April compare to 7.3% in March. The new IIP series was dragged down by mining, electricity generation and consumer goods segments.
9. Food inflation up to 9.01% for the week ended May 28th, 2011 on the back of expensive fruits, onions and protein based items.
10. Desperate to reduce India’s fiscal deficit, the government of India yet again deferred the decision of raising prices of diesel, kerosene and cooing gas as it deals with a political crisis.
Indian Markets
11. Nifty negative due to weak global markets and disappointing IIP figures. Nifty Chart
12. FIIs purchase shares worth a net Rs. 1729.2 cr in the month of June to date; Domestic funds bought shares worth a net Rs 10597.9 cr for the same period.
Sectors
13. The cement sector has been witnessing continuous disappointment in demand which has resulted in drop in cement prices over the month and is likely to see further decline with the onset of monsoon.
14. Car sale rose 7% in May, 2011 the slowest in 2 years due negative factors such as rising interest rates and fuel costs. Key trigger for the industry will be the RBI’s monetary policy next week as a further interest rate hike can further slow sales growth.
15. India’s two wheeler industry is likely to grow at a CAGR of 12% on the back of good demand and steady GDP growth according to the ICRA.
16. State owned oil firms may hike petrol prices by about Rs. 0.50 per litre as last months increase in rates is not enough to cover cost of raw materials (Crude oil). The price hike is expected to be from midnight June 15th and 16th.
Stocks
17. Maruti Suzuki already struggling due to sluggish sales is set to take another hit due to continued strike at its Manesar plant in the form of millions of dollars in losses and spill over to other plants. Maruti Suzuki Chart
18. Idea Cellular reported a net profit of RS. 275 Cr registering a growth of 13% over the previous quarter. Idea Cellular Chart
19. Punj Lloyd gets Rs. 678 Cr contract from Nuclear Power Corp for critical nuclear piping work. Punj Lloyd Chart
Quotes
20. “You can take of a man's money, but when it's all said and done, you've only taken his money. When you take of a man's time, you've taken a part of his life.” -- Wayne Newton.
June 10, 2011
T20 7th June 2011
Global Markets
1. S&P witnesses a dramatic fall due to slower than estimated growth in jobs. SP Chart
2. US fell last week on the back of information that U.S. employers in May added the fewest jobs in eight months, increasing concerns the recovery is slowing. US Dollar Chart
3. Crude prices slump on news that OPEC may increase oil output. Crude Oil Chart
4. Gold prices hit a one year high on weak economic news from the US. Gold Chart
Economy
5. India’s manufacturing sector growth at quarter ended 31st march, 2011 stood at 5.1% which is lower than the world average according to a UN body report. China’s manufacturing output rose by 15% for the same period.
6. India’s forex reserves rose by $ 1.68 Billion to stand at $ 310.21 Billion for week ended may 27th, 2011 on the back of sharp increase in foreign currency assets.
7. India’s service sector grew at its slowest pace in 20 months in May, 2011 due to rising interest rates.
8. Food inflation falls to 8.06% for week ended may 21st, 2011 on the back of cheaper pulses, wheat and vegetables.
9. Indian exports jump 34.4% in April YOY to USD 23.8 Billion while imports for April rose 14% YOY to stand at USD 32.8 Billion. This growth is mainly derived due to export of engineering good, oil products and gems.
10. Growth in India’s 6 core sectors slows to 5.2% in April due to a decline in cement production and lower finished steel production.
Indian Markets
11. Nifty moves marginally upwards on positive FII buying, which was negated by negative global cues and a decline in GDP growth. Nifty Chart
12. FIIs purchase shares worth a net Rs. 2481 cr in the month of June to date; Domestic funds bought shares worth a net Rs 873.6 cr for the same period.
13. Desperate shipping companies are betting on the oil and gas industry. Top Indian shipping services companies still reeling under margin pressure due to soft rates in the dry bulk and crude carrier segments, are looking to expand their presence in the oil and gas segment hoping the oil rally to continue.
14. Maruti Suzuki under pressure due to disruption in production at its plant in Manesar after a section of workers went on strike. Around 800 workers went on strike demanding the recognition of a new union, resulting in a production loss of about 650 units.
15. Global Airline companies may be forced to slash industry profit expectation as fears grow of relapse in the world economy due to weak global cues.
16. Banks nonperforming assets may rise in FY12 as SME companies that borrowed at low rate regimes may find it difficult to difficult to service their loans due to hike in rates.
Stocks
17. Havells India plans to enter the Rs. 5,200 Cr home appliances segment with an initial investment of Rs. 70 to 80 Cr. Havells India Chart
18. Bajaj Auto May total sales up 20% to 3.59 lakh units. Bajaj Auto Chart
19. Reliance Industries Limited (RIL) to be debt free in FY12 according to an announcement made during the AGM of the company. RIL Chart
Quotes
20. “Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.” --Benjamin Franklin.
1. S&P witnesses a dramatic fall due to slower than estimated growth in jobs. SP Chart
2. US fell last week on the back of information that U.S. employers in May added the fewest jobs in eight months, increasing concerns the recovery is slowing. US Dollar Chart
3. Crude prices slump on news that OPEC may increase oil output. Crude Oil Chart
4. Gold prices hit a one year high on weak economic news from the US. Gold Chart
Economy
5. India’s manufacturing sector growth at quarter ended 31st march, 2011 stood at 5.1% which is lower than the world average according to a UN body report. China’s manufacturing output rose by 15% for the same period.
6. India’s forex reserves rose by $ 1.68 Billion to stand at $ 310.21 Billion for week ended may 27th, 2011 on the back of sharp increase in foreign currency assets.
7. India’s service sector grew at its slowest pace in 20 months in May, 2011 due to rising interest rates.
8. Food inflation falls to 8.06% for week ended may 21st, 2011 on the back of cheaper pulses, wheat and vegetables.
9. Indian exports jump 34.4% in April YOY to USD 23.8 Billion while imports for April rose 14% YOY to stand at USD 32.8 Billion. This growth is mainly derived due to export of engineering good, oil products and gems.
10. Growth in India’s 6 core sectors slows to 5.2% in April due to a decline in cement production and lower finished steel production.
Indian Markets
11. Nifty moves marginally upwards on positive FII buying, which was negated by negative global cues and a decline in GDP growth. Nifty Chart
12. FIIs purchase shares worth a net Rs. 2481 cr in the month of June to date; Domestic funds bought shares worth a net Rs 873.6 cr for the same period.
13. Desperate shipping companies are betting on the oil and gas industry. Top Indian shipping services companies still reeling under margin pressure due to soft rates in the dry bulk and crude carrier segments, are looking to expand their presence in the oil and gas segment hoping the oil rally to continue.
14. Maruti Suzuki under pressure due to disruption in production at its plant in Manesar after a section of workers went on strike. Around 800 workers went on strike demanding the recognition of a new union, resulting in a production loss of about 650 units.
15. Global Airline companies may be forced to slash industry profit expectation as fears grow of relapse in the world economy due to weak global cues.
16. Banks nonperforming assets may rise in FY12 as SME companies that borrowed at low rate regimes may find it difficult to difficult to service their loans due to hike in rates.
Stocks
17. Havells India plans to enter the Rs. 5,200 Cr home appliances segment with an initial investment of Rs. 70 to 80 Cr. Havells India Chart
18. Bajaj Auto May total sales up 20% to 3.59 lakh units. Bajaj Auto Chart
19. Reliance Industries Limited (RIL) to be debt free in FY12 according to an announcement made during the AGM of the company. RIL Chart
Quotes
20. “Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.” --Benjamin Franklin.
June 03, 2011
T20 31st May-2011
Global Markets
1. The S&P 500 rose this week on speculation that European nations may pledge more funds towards a solution to EU debt crisis. SP Chart
2. US dollar declines as weak economic data dampens the country’s economic growth recovery. US Dollar Chart
3. Crude prices experienced positive movements last week due to weakening of USD and steady demand. Crude Oil Chart
4. Gold prices are at a three week high on persistent concerns over Greece debt woes. Gold Chart
Economy
5. Indian economic growth slowed down in the quarter ended 31st March, 2011, as RBI’s aggressive series of interest rate hikes to curb inflation slowed economic activity.
6. For FY11 India posted a GDP growth of 8.5% a shade below the government’s expectation of 8.6%. But FY12 GDP figures are expected to be lower due to rising crude prices and interest rate hikes by RBI to curb inflation.
7. India’s Apparel exports grew by about 13 per cent to $1 billion in April 2011 year-on-year, due to strong demand from the US and European markets.
8. Foreign Direct investment (FDI) in India's services sector, which contribute over 50% in the country's economic growth, declined by 22.5% to USD 3.4 billion in FY11. The global financial crisis mainly the EU Debt crisis is making players cautious of undertaking overseas investments.
9. India’s food inflation rose to a 4 week high to 8.55% for the week ended May 14th, 2011 from 7.47% from the previous week. The rise was mainly driven by a price rise in cereals, vegetables and milk.
Indian Markets
10. Nifty experiencing a positive run on expectations of good economic growth figures for quarter ended March 31, 2011. Nifty Chart
11. FIIs sold shares worth a net Rs. 4336.20 cr since 1st of May, 2011 to date; Domestic funds bought shares worth a net Rs 79.20 cr for the same period.
Sector
12. Indian cement industry is struggling due to oversupply and witnessed a capacity utilization of 83.9% in FY11 which is a 13 year low; this is according to the data supplied by the Cement Manufacturers association.
13. Indian Car sales are expected to slow down this year due to tighter credit conditions and rising energy prices. Due to higher interest rates the numbers of walk-in sales have declined.
14. India’s coal imports are expected to almost double in the next 4 years to feed a rapidly growing power industry. India's thermal imports could rise to more than 100 million tonnes by 2015, from around 67 million tonnes in 2011. Coal imports are expected to grow by 10 million tonnes this year.
15. 10 million users have opted for mobile number portability since its inception four and a half months ago. Vodafone have been the biggest gainers under this facility, followed by Idea cellular and Bharti Airtel.
16. Indian markets are witnessing a rejuvenated hotel industry after two bad years following a global meltdown. Nationwide occupancy has rise to 68% in FY11 which matches occupancy levels post recession and revenue per available room which is a measure of hotels’ profitability grew 10.7% in FY11.
Stocks
17. Tata motors profits almost trebled for FY11 driven by higher sale at home and JLR unit. Tata motors Chart
18. Oil India’s Q4 profits were up 31% at stood at Rs. 563 Cr as compared to Rs. 431 Cr for same period in corresponding year. Oil India Chart
19. Reliance communication net profit fell 86% in Q4, 2011 due to sharp rise in interest costs to service debt, higher costs of operations and fall in average revenue per user. Reliance communication Chart
Quotes
20. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.”--William Feather
1. The S&P 500 rose this week on speculation that European nations may pledge more funds towards a solution to EU debt crisis. SP Chart
2. US dollar declines as weak economic data dampens the country’s economic growth recovery. US Dollar Chart
3. Crude prices experienced positive movements last week due to weakening of USD and steady demand. Crude Oil Chart
4. Gold prices are at a three week high on persistent concerns over Greece debt woes. Gold Chart
Economy
5. Indian economic growth slowed down in the quarter ended 31st March, 2011, as RBI’s aggressive series of interest rate hikes to curb inflation slowed economic activity.
6. For FY11 India posted a GDP growth of 8.5% a shade below the government’s expectation of 8.6%. But FY12 GDP figures are expected to be lower due to rising crude prices and interest rate hikes by RBI to curb inflation.
7. India’s Apparel exports grew by about 13 per cent to $1 billion in April 2011 year-on-year, due to strong demand from the US and European markets.
8. Foreign Direct investment (FDI) in India's services sector, which contribute over 50% in the country's economic growth, declined by 22.5% to USD 3.4 billion in FY11. The global financial crisis mainly the EU Debt crisis is making players cautious of undertaking overseas investments.
9. India’s food inflation rose to a 4 week high to 8.55% for the week ended May 14th, 2011 from 7.47% from the previous week. The rise was mainly driven by a price rise in cereals, vegetables and milk.
Indian Markets
10. Nifty experiencing a positive run on expectations of good economic growth figures for quarter ended March 31, 2011. Nifty Chart
11. FIIs sold shares worth a net Rs. 4336.20 cr since 1st of May, 2011 to date; Domestic funds bought shares worth a net Rs 79.20 cr for the same period.
Sector
12. Indian cement industry is struggling due to oversupply and witnessed a capacity utilization of 83.9% in FY11 which is a 13 year low; this is according to the data supplied by the Cement Manufacturers association.
13. Indian Car sales are expected to slow down this year due to tighter credit conditions and rising energy prices. Due to higher interest rates the numbers of walk-in sales have declined.
14. India’s coal imports are expected to almost double in the next 4 years to feed a rapidly growing power industry. India's thermal imports could rise to more than 100 million tonnes by 2015, from around 67 million tonnes in 2011. Coal imports are expected to grow by 10 million tonnes this year.
15. 10 million users have opted for mobile number portability since its inception four and a half months ago. Vodafone have been the biggest gainers under this facility, followed by Idea cellular and Bharti Airtel.
16. Indian markets are witnessing a rejuvenated hotel industry after two bad years following a global meltdown. Nationwide occupancy has rise to 68% in FY11 which matches occupancy levels post recession and revenue per available room which is a measure of hotels’ profitability grew 10.7% in FY11.
Stocks
17. Tata motors profits almost trebled for FY11 driven by higher sale at home and JLR unit. Tata motors Chart
18. Oil India’s Q4 profits were up 31% at stood at Rs. 563 Cr as compared to Rs. 431 Cr for same period in corresponding year. Oil India Chart
19. Reliance communication net profit fell 86% in Q4, 2011 due to sharp rise in interest costs to service debt, higher costs of operations and fall in average revenue per user. Reliance communication Chart
Quotes
20. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.”--William Feather
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