Morning EQ-Tea

Investment Advisory

Morning EQ-Tea

Investment Advisory
April 17, 2009
Indian Indices Sensex Nifty CNX Midcap CNX IT Bankex Auto Metal FMCG Global Indices Shanghai Nikkei 225 SGX Nifty Hang Seng DJIA S&P 500 FTSE Live Markets Shanghai 2,497 -1.5% Last Close 2,534 8,755 3,371 15,583 8,125 865 4,053 Last Close 10,947 3,370 3,816 2,492 4,916 3,423 6,905 2,101 % Change 1 Day MTD (3.0) 12.8 (3.3) 11.5 (3.6) 12.0 (1.3) 7.5 (2.6) 18.9 (2.6) 11.8 (7.0) 19.2 1.9 3.2 % Change 1 Day MTD (0.1) 5.2 0.1 10.4 (3.5) 13.1 (0.6) 16.8 1.2 6.8 1.6 8.5 2.1 3.2

YTD 13.5 13.9 2.1 13.9 (1.7) 40.0 32.4 5.7

Content

Corporate News Macro Economic News International News Bulk Deals Insider Trades

Volume Shockers Event Calendar Corporate Actions Board Meetings Share Buyback

YTD 37.1 1.0 n.a. 10.2 (7.4) (4.2) (8.6)

Current Quote % Change ADR (CONVERTED TO INR) INFOSYS ICICI BANK TATA COM HDFC BANK STERLITE Volumes BSE CASH NSE CASH NSE F&O

As on 0830 hours IST SGX Hang Nikkei Nifty Seng 8,950 3,412 15,855 2.2% 1.2% 1.7%
Prem / (Disc) in (%)

Statement of the day: There are many reasons to think that when the crisis is over we will still be in a system where the place of the US dollar will be almost the same. What is even surprising is that the dollar is doing well in this crisis. - Dominique Strauss-Kahn, IMF Chief

Institutional Activities Vis--Vis Sensex Return

(Rs Mn)
1Mth 2.9 3.8 1.3 9.5 (1.9)

P ro visio nal figure fo r investments

ADR Close NSE Close

1,368 440 568 1,180 407

1345 428 555 1066 401

1 Day 1.7 2.7 2.4 9.6 1.3

6000 3000 0 (3000) (6000) (9000) (12000) 6-Apr 8-Apr 9-Apr 10535 10742 10804 10967

11285

11400 11200 10947 11000 10800 10600 10400

Moving Average (Rs bn) 1 Day 5 Day 30 Day 71 63 40 211 185 118 785 658 538 Spot market 1 Day MTD 5 36 (11) (11)

Institutional Activities (Net) FII MF (Rs bn) (Rs bn)

YTD (31) (20)

13-Apr 15-Apr 16-Apr Sensex (RHS)

FII (LHS)
Source : NSE , BSE & SEBI

MF (LHS)

Bond Market 10Yr Yield (G-Sec) Currency Market USD/INR USD/EURO USD/Yen Last Close 49.76 0.76 99.53

Historical Data (%) 1 Day 1M 1 Yr 6.49 7.01 5.26 % Change 1day MTD (0.2) 1.9 (0.5) (1.0) (0.3) (0.6) % Change 1 Day MTD 1.5 0.2 (1.7) (4.8) (1.8) 18.0 (2.2) 6.7 0.5 0.3 (0.3) 26.7

BSE Advance/Decline

2300 Number of Shares

YTD (1.9) (6.1) (8.9)

4.3 4.0

4.7

1900
2.9

1500 1100 700 300 6-Apr 8-Apr

2.3

Commodities Update Unit Crude Oil(NYME) $/Bbl Gold (OTC) $/Oz Copper (LME) $/MT Aluminum (LME) $/MT Sugar (LIFFE) $/MT Nickel (LME) $/MT

Close 50 876 4,725 1,446 394 12,360

YTD 11.6 (0.8) 55.3 (4.1) 23.8 6.5

0.5

5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5

9-Apr

13-Apr

15-Apr

16-Apr

A dvance (LHS)

Decline (LHS)

A dv/Decl Ratio (RHS)

Source : Bloomberg, NSE, BSE & SEBI

Source : BSE

Morning EQ-Tea
Investment Advisory

Corporate News
Sugar prices domestically is set to hit a new high as D-S dynamics is clearly pointing towards lower Inventories this year at the world level (Impact Positive for all sugar companies. However, we expect further measures from GOI to ease prices.) Trade slowdown hits Container Corporations Q4 performance (Impact Negative) Slowdown in industrial activities in India as well as EXIM has impacted the performance of Concors Q4, wherein logistics major has reported a 6%YoY drop in revenues (Rs 8.4bn) and about 8% drop in profits (Rs1.9bn). For unaudited full year, net profit rose 8.94% to Rs 8.2bn in the year ended Mar 09 as against Rs 7.5mn during previous year ended Mar 08. Sales in FY09 rose a mere 1.98% to Rs 34.1bn as against Rs 33.5bn during previous year ended Mar 08. We expect the stock as well as the logistics sector to remain under pressure in near term. the the the the the

AREVA T&D India bags First of its kind 500 MVA Power Transformer Order from PowerGrid (Impact Positive) Areva T&D will deliver two 500MVA power transformers to Power Grid by the third quarter of 2010. No financial details of the order are provided as yet. Arvind board approves restructuring of loans (Impact - A lot has been priced in yesterdays market) The board has approved infusion of Rs 51 crore through issue of warrants in a bid to strengthen its net worth. The company would issue 332lakh warrants, each convertible in one equity share at a price not less than Rs 15 per share. Meanwhile the board has also approved restructuring of Rs 904 crore of long term debt. Consequently, the average maturity of these loans has been extended by 2 years. Punj Lloyd bags orders worth 3.08 bn (Impact Positive) Punj Lloyd Ltd has secured three projects aggregating to Rs 308 Crores from Bangalore Metro Rail Corporation for construction of eight elevated metro stations in Bangalore. These projects are expected to be completed over the next 22 months. With this, the order backlog for the company stands at 244.9 bn (3.1 times FY 08 net sales). Unitech raises Rs1620cr through QIP, which cuts the promoter stake to 51% (Impact Positive, as it improves liquidity in the company) Reliance sheds export unit tag for Jamnagar refinery Reliance Industries Ltd (RIL) has converted its first refinery (33 million tonne/year) at Jamnagar from an Export Oriented Unit (EoU) to a normal status so that it can sell all its products in the domestic market. The decline in prices had narrowed down its export realisations, leading to lower margins. The company clearly feels that it will get higher revenues by selling in the domestic market even if it means paying domestic taxes.

Macro Economic and Other News

Inflation dips to 0.18% despite costlier food, fuels Headline inflation rose 0.18% during the week ended April 4, below the previous weeks annual rise of 0.26%. On a disaggregated basis, inflation in the Primary Articles group increased to 4.5% in the latest reported week, up from 3.5 per cent in the previous week. In food articles, inflation rose by 100 basis points to 7.3% from 6.3% 15th Lok Sabha polls: 1st round of Parliament elections for 124 constituencies ends with 58-62% voter turnout.

International News
North Korea, raised tensions further in the Asia Pacific region after it ordered UN nuclear inspectors to leave its country. Earlier, UN Security Council condemned North Koreas launch of a longrange rocket and demanded enforcement of existing sanctions against Pyongyang. JP Morgan Reports Net Income Of $2.14bn, beats Streets expectations JP Morgan Chase earned $2.4 billion, or 40 cents a share beating the estimates of 30 cents a share for its first quarter 2009 results. That's down from $2.4 billion, or 67 cents per share, a year ago, but exceeding market expectations. Revenue increased 48% to $25.03 billion.

Source : Economic Times, Business Line, Business Standard, Times Of India, DNA Money, Mint, Financial Express, Bloomberg

Morning EQ-Tea
Investment Advisory

Bulk Deal
Company Alok Industr Eicher Motors Gateway Dist Jindal South United Brewr Zicom Ele Se
Source : BSE N.A.=Not Available

Acquirer N.A. Deutsche Sec. Mauriti N.A. N.A. Sloane Robinson Llp N.A.

Qty 200,000

Price 210

Seller Aviva Life Insu. Co. India N.A. Antique Securities Pvt. Quantum M Limited

Qty 1,190,000 2,050,000 311,232 496,513

Price 15 80 435 80

782,827

121

N.A. Morgan Stan. Mauritius

Insiders Trades
Company Aishwarya Telecom Ltd. Balaji Telefilms Ltd. Parsvnath Developers Ltd. Patel Engineering Ltd Prime Property Devt. Corp.
Source : BSE & Capitaline

Acquirer/Seller G Rama Manohar Reddy, M.D. Shobha Kapoor, M.D. Pradeep Kumar Jain, Chairman Patel Corporation Pvt Ltd Padamshi Soni, Chairman

Bought/Sold B B B B B

Qty 10,000 32,000 500,000 5,000 3,744

Volume Shockers
Gainers Company Indiabulls Fi Shriram Tra Bk of Barod Rural Elec C Power Fin. Bajaj Fin. Lupin Hind.Zinc Jai Corp PNB
Source : Capitaline

Losers %Change Del Vol 1,023 949 298 238 232 202 179 117 91 81 Close Price (Rs) 116 214 289 103 145 195 692 494 170 486 Change Price (%) 3.5 14.9 2.4 4.7 3.7 3.2 2.1 1.4 8.9 2.2 Company KSK Energy Glaxosmit Ph IOCL Indian Hotels Cairn India Max India Oriental Bank Pantaloon Ret OnMobile Glo Idea Cellular %Change Del Vol 8,098 1,889 1,023 735 714 399 265 260 246 246 Close Price (Rs) 175 1,099 423 51 188 120 136 169 327 53 Change Price (%) (3.2) (0.5) (0.6) (3.2) (9.5) (0.3) (1.9) (11.4) (2.4) (7.2)

Morning EQ-Tea
Investment Advisory

Event Calendar

Apr 16: India - Inflation (WPI) for week ended Apr 4 (Actual 0.18, Expectations -0.13%) Apr 21: India - Reverse Repo rate (Expectations 3.38%) Apr 21: India - CRR (Expectations 5%) Apr 21: India - India Repo Cutoff Yld (Expectations 4.5%)

Source : Bloomberg

Corporate Actions
Ex Date 17-Apr 20-Apr 22-Apr 23-Apr 24-Apr
Source : NSE

Company Paper Product Ltd Syndicate Bank St. Bk of Travancore St. Bk of Bika & Jaipu HCL Technologies

Purpose Div Rs 1.8/share Interim Div Rs1.5/sh Dividend Dividend 3

rd

Ex Date 27-Apr 27-Apr 28-Apr 29-Apr 29-Apr

Company Hexaware Tech.

Marico Limited

Purpose Div Rs0.5/share 2nd Interim Div 3rd Interim Div Div Rs1.8/share Div Rs15/share

HCL Infosystems
Areva T&D India AstraZeneca Pharma

Interim Div

Board Meetings
Date 17-Apr 17-Apr 17-Apr 17-Apr 18-Apr 20-Apr 20-Apr 20-Apr
Source : NSE

Company PFC SBI Home Finance Sonata Software Gruh Finance Clutch Auto Axis Bank Merck Ltd Sesa Goa

Results

Dividend

Date 20-Apr 20-Apr 21-Apr

Company TCS Polaris Gati Ltd Hero Honda Motors Rolta India Ltd Zensar Technologies Spice Communi. Ultratech Cement

Results

Dividend

21-Apr 21-Apr 21-Apr 21-Apr 21-Apr

Share Buy Back

Company Name Rain Commodities DLF T.V. Today R Systems Inter. Monnet Ispat Bosch Alembic ltd Godrej Consumer India Infoline *As on April 16, 2009
Selan Exploration

Offer Open 25-Sep-08 17-Oct-08 16-Mar-09 29-Oct-08 08-Dec-08 15-Dec-08 08-Dec-08 04-Dec-08 18-Dec-08 23-Jan-09

Offer Close 30-Apr-09 09-Jul-09 30-Jul-09 06-Sep-09 22-Oct-09 23-Oct-09 13-Nov-09 24-Nov-09 28-Nov-09 10-Apr-10

Maximum Buy Back Price 307 600 115 150 300 4500 55 150 43 230

Proposed Buy (Appox Shares) 1,200,000 22,000,000 4,779,800 1,306,941 500,000+ 2,144,490 1,200,000 17,203,533 22,895,833 550,434

Number of Shares bought* 1,200,000 7,626,567 96,753 675,337 1,286,163 407,993 1,290,388 N.A 2,557,915 138,364

N.A.=Not Available List is not exhaustive, Selected by our Advisory Group

Source : NSE

Morning EQ-Tea
Investment Advisory

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Issuer of the Document:- IL&FS Investsmart Securities Limited Registered Office:Dhana Singh Processor Premises J B Nagar, Andheri - Kurla Road Andheri (East) Mumbai 400 059 Telephone: +91 22 2653 3333 Fax: +91 22 2653 3075 Website: www.investsmart.in Disclosure IL&FS Investsmart Securities Limited (IISL), its associate and group companies, its directors, associates and employees may have various positions in any of the stocks, securities and financial instruments dealt in this document or may make sale or purchase or other deals in the securities from time to time or may deal in other securities of the companies/ organizations described in this document. Certification The views and opinions expressed by the author in the document are his own and do not reflect the views of IL&FS Securities Limited or any of its associate and group companies.

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