BHEL, ICICI Bank Hit 52-week Low

Key benchmark indices extended initial losses to hit fresh intraday low in morning trade on weak Asian stocks. The market sentiment remained weak in September 2011 following bad Q2 revenues. The data showing sales by foreign funds recently also weighed on sentiment. BSE Sensex fell 195.15 points or 1.19%, off close to 120 points the day high and nearly 25 points behind the day low. The size of the market was quite low. All the 13 sectoral indices on BSE were in the red.

Index heavyweight Reliance Industries (RIL) extended early losses. Realty shares extended recent slide triggered by weak Q2 results best real estate companies. Bank stocks extended recent losses triggered by concerns about rising defaults to slow the economy with ICICI Bank hit 52-week low. Maruti Suzuki India, Hindalco Industries and Bhel hit 52-week low. Shares of retailers organized extend recent gains to report that the Union Cabinet will take the son of a proposal to allow foreign direct investment (FDI) for multi-brand retail FDI is also considering increasing the limit of a brand of trade detail from 51% to 100%.

The market for smaller denomination shares to trade at the beginning of a weak Asia. 50-unit S & P CNX Nifty hit a minimum of 6 weeks barometer index BSE Sensex and hit 5-1/2-week low. The market advanced early losses to hit fresh intraday low in morning trading.

Corporate profits have been weak. Combined net income of a total of 3675 companies fell to 35.9% RS 67,507 crore is a growth of 20.6% of sales in the RS 1135022 crore in Q2 September 2011 over Q2 September 2010. Q2 earnings season was over Tuesday, November 15, 2011.

Data show that the sale of foreign funds has recently weighed emotions. Foreign institutional investors (FIIs) sold shares worth Rs 195.20 crore is Thursday, November 17th, 2011, as interim data exchange. Their outflow of Rs 1093.86 crore has been in three trading days during the 15 to 17 November 2011.

At 10:20 IST, the BSE Sensex was down 195.15 points or 1.19% to 16,266.56. The index fell 74.01 points today is the highest 16,387.70 in early trade. The index fell 221.70 points to 16,240.01 in the trading day lower in the morning, the lowest for October 10, 2011.

S & P CNX Nifty fell 62.40 points, or 1.26% to 4,872.35. Nifty has hit its highest 4,902.25. The index hit a low of 4,862.85 in intra-day trading to the lowest level since Oct. 7, 2011.

The size of the market indicating the overall health of the market was quite low. On BSE, 1573 shares declined and 376 rose. A total of 48 shares remained unchanged.

The Sensex pack 30 stocks, 25 fell and the rest of them have increased. Tata Motors, Jaiprakash Associates, Maruti Suzuki India shed by between 3.31% to 3.75%.

Index heavyweight Reliance Industries (RIL) fell 2.21%, extending a 8.28% loss in the last four trading days of sessions. RIL Infotel Broadband Services unit recently acquired a 38.5% stake in privately held digital learning educational extra marks. He did not disclose financial details of the investment. The agreement will allow extra marks develop digital distribution services and expand market penetration, RIL said. Last year, Reliance acquired Infotel Broadband, the only company to win a national license for wireless broadband spectrum in an auction of the government for $ 1 billion, marking his return to the carrier.

India’s largest manufacturer of electrical equipment by sales fell 4.57% BHEL to RS 271.65, extending the loss 15.01% over the last six trading sessions. The stock reached 52 weeks low of Rs 270.95 today. The company announced after market hours of Monday, November 14, 2011 and net income increased 23.61% to RS 1412 crore on 24.41% growth in total income at RS 10765.37 crore in the second in September 2011 in the second quarter quarter, in September 2010.

Growth in both topline and bottomline was still 60 basis points decline in operating margin of 18.6% largely due to the formation of the highest income tax rate and other. In addition, during the quarter, the company changed its accounting policy, leaving recessed 30 days per month (previously 26 days per month), and therefore the profit before taxes increased to the extent of Rs 166 crore. But now, who moderated the cost of personnel, the decline in operating margin would have been higher

Bhel had an order book of Rs 1.61 lakh crore on September 30, 2011. Bhel has decided to create a new manufacturing power equipment Bhandara district of Maharashtra.

Bank shares also extended recent losses caused by rising concerns about standards in an economic downturn. India’s largest private sector bank by net profit ICICI Bank fell 2.49% to 756.55 RS, extending the losing 12.19% in the last seven trading days sessions. The stock reached 52 weeks low of Rs 749 today. ICICI Bank net profit rose 43% to Rs 1992 crores in September 2011 in the second quarter over the second quarter, in September 2010. Standalone net profit rose 22% to RS 1503 crore in the September 2011 second quarter over the second quarter, in September 2010. Net interest income increased 14% to RS 2506 crore in the September 2011 second quarter over the second quarter, in September 2010. Fee income increased 7% to RS 1700 crore in the September 2011 second quarter over the second quarter, in September 2010. Provisions fell by 50% to 319 crore in the second RS September 2011 quarter to the second quarter, in September 2010. The result was announced during trading hours Monday, October 31, 2011.

ICICI Bank current and savings account (CASA) was 42.1% as September 30, 2011. Net non-performing assets fell to 0.8% in the September 30, 2011 from 1.37% at September 30, 2010 and 0.91% at June 30, 2011.

Largest Indian bank by the State Bank branch network of India (SBI) fell 0.53%. Available extended recent losses in the second quarter, the bank’s results showed an increase in suffering from the bank. Relationship with the bank’s gross non-performing assets (NPA), the Gross advances increased to 4.19% as September 30, 2011: 3.35% as September 30, 2010. Ratio of net non-performing loans net income increased 2.04% as September 30, 2011: 1.7% until September 30, 2010.

SBI net profit rose 12.35% RS 2810.43 crore is 23.43% increase in total income RS 29,394.32 crore in Q2 September 2011 over Q2 September 2010. Booking Non-performing loans increased by 35.08% RS 2921.22 crore in Q2 September 2011 over Q2 September 2010. The Bank has announced Q2 results during market hours Wednesday, November 9, 2011.

Consolidated net profit of the bank increased by 46.8% RS 3470.43 crores is 8.76% of total income increased RS 41,249.08 crore in Q2 September 2011 over Q2 September 2010.

SBI will not be at this stage to raise funds from abroad, given the current market, said Hemant Contractor, chief executive at the bank, Monday, November 14, 2011. In September 2011, the bank owned collectively doubled its target of foreign debt to 10 billion.

The second largest bank in the private sector India net profit HDFC Bank rose 0.11%. The bank’s net income rose 31.48% to Rs 1199.35 crore on 37.4% of total revenues of Rs 7929.38 crore in Q2 September 2011 in Q2 September 2010. The result was announced during market hours, October 19, 2011.

The asset quality of commercial banks should be carefully monitored in the environment of interest rate changes, as the loan portfolio pasting small businesses can grow, said the Reserve Bank of India (RBI) in its “Report trends and development of the Bank in India 2010-11 “released Monday, November 14, 2011.

Realty stocks extended recent slide caused by weak second quarter results for the first real estate companies above. Realty major DLF fell 1.37%, extending recent steep losses due to weak second quarter results. The company announced Thursday, November 10, 2011, net income group dropped 10.98% to 372.41 crore RS on the rise from 2.27% in total income to RS 2577.16 crore in the second in September 2011 in the second quarter quarter, in September 2010.

DLF said it expects the second half of the fiscal year ending March 2012 (FY 2012) to attend a strong operational performance, both in terms of a scale starts at the track segments and Housing group and the delivery of their projects through the cities of Gurgaon, Chennai and Cochin. DLF also hoped that the momentum in terms of transfer policy to continue growing traction of the proposed transfer of assets hospitality more help to the moderation of its debt level. With strategic capital expenditure undertaken in improving the quality of its land bank and the accumulation of assets of the company and select the infrastructure, the company is well positioned to capitalize on growth opportunities as they relive the scene of the demand, DLF, said in a statement.

DLF said that the Appellate Body of the race is November 9, 2011 the Court gave the order to remain in the application for the pain and held pending directions relating to changing circumstances. This applies to the Commission’s mandate from the competition in India, 12 August 2011. Although this is a temporary arrangement, the Company believes, based on strong earnings, DLF said. It should be noted that the Competition Commission of India had ordered a penalty of Rs 630 crore of the country’s largest developer of property, whose sales in the month of August because it is considered wrong sign of leadership to the detriment of the residents of the apartment complex.

HDIL declined by 2.51%, ranging from 27% of the losses of the previous seven sessions, triggered by weak Q2 results. MSCI said it would leave the position of the MSCI India with effect from 1 December 2011. The Group’s net profit fell 24.41% RS 148.55 crore is 13.89% increase in total income of RS 450.09 crore in Q2 September 2011 over Q2 September 2010. Warehouse on the left to the MSCI India into force December 1, 2011.

Unitech shed 1.53%, extending recent steep slide triggered by weak Q2 results. The Group’s net profit decreased by 46.8% and R 92.46 crore is a decline of 2.9% of net sales RS 626.06 billion rupees in Q2 September 2011 over Q2 September 2010. The company announced its Q2 results after market hours on Monday.

Unitech reiterated that the current contract for Tamilnadu Telecom Unitech Wireless (Uninor) which is a separate legal entity engaged in the telecommunications and will not affect Unitech. The company said it will continue to focus on its real estate, under normal conditions.

Sobha Developers fell 3.1%, extending recent losses caused by second weak third quarter results. Net income fell 30.56% to Rs 40.90 crore on 22.91% fall in net sales to RS 329.40 crore in the September 2011 second quarter over the second quarter, in September 2010.

The actions of organized retailers extended recent gains on reports that the Office of the Union Sun will make a proposal to allow foreign direct investment (FDI) in multi-brand retail chains, also plans to increase the limit of FDI in single brand chains retail from 51% to 100%. Pantaloon Retail, Shoppers Stop, Provogue and Trent increased from 1.79% to 2.82%. At present, it is possible for the government to 51% FDI in single brand chains of retail, 100% in cash and carry (large-) business. FDI is not permitted in multi-channel retail brands present. Treasury would have agreed to draft Cabinet note on opening up the multi-brand retail to foreign investment.

The government raised the foreign investment limit in government bonds and businesses of $ 5 billion each. The movement aims to encourage foreign capital flows, which remained silent so far this year, and it is likely that support for India’s currency has lost almost 13% against the dollar this fiscal year that began on 1 in April. Thomas Mathew, assistant secretary of capital markets, told reporters Thursday, November 17, 2011, the additional limit of $ 5 billion may be invested in securities with residual maturity is not a criterion.

The government has postponed the introduction or consideration and passing of key bills such as the Land Acquisition Bill, Bill Code taxes, banking and insurance proposals in the winter diet. In the winter session is scheduled to begin from November 22, 2011. Banks Bill was presented to the Standing Committee in March, while Bill was sent to the Insurance Committee in 2009. By providing information about the proposed activities of the parliamentary session Affairs Minister Pavan Kumar Bansal is Wednesday, November 16, 2011, said that rural development has permanent need more time for the acquisition of Bill.

Bansal has announced a list of 31 bills for consideration and passage in the winter session. And ‘the government also intends to introduce 23 new bills during the 21 sessions in the session. The Treasury also obtain the approval of Parliament to cover additional expenses.

The Union Cabinet Wednesday, November 16, 2011, cleared the project plans, but decided not to limit foreign direct investment in the sector, while maintaining the flexibility to prescribe or change the limit by a decision of the Executive. The Government will make the regulation of pension funds and the development of Bill 2011 of the Authority of the winter session of Parliament.

Food Price Index rose 10.63% and the index of fuel prices increased by 15.49% at 5 years of data in November 2011, published by the government Thursday, 17 November 2011 showed. In the previous week, food and fuel inflation rate of 11.81% and 14.50% respectively. The price index for primary articles rose 10.39%, compared with an annual increase of 11.43% a week earlier.

Reserve Bank of India (RBI) announced its first buyback program obligations under its program of open market operations this year, in a move intended to facilitate liquidity in the banking system in financial difficulty. The plan to purchase up to Rs 10,000 crore of bonds is November 24, 2011 that banks borrowed Rs 80,000 crore from Rs 3.1 lakh crore and the day for the past week, highlighting the lack of liquidity in the local banking system. Reserve Bank of India said it will buy bonds through an auction multiple security using multiple price method. It will publish details of the links it will buy the auction soon, he added.

The RBI has announced 25 basis point increase in interest rate policy, ie. key interest rate to 8.5% after the semi-annual monetary policy, October 25, 2011. The central bank has lowered its GDP forecast for the current fiscal year to March 2012 to 7.6% from 8% in the past. But it was still at the end of March, the projection of inflation of 7%. The RBI said inflation forecast trajectory indicates that inflation will begin to fall in December 2011 (January 2012 release) and then continue along the path of a constant 7% by March 2012. It should remain moderate in the first half of 2012-13. This reflects a combination of price trends of raw materials and the cumulative impact of monetary tightening. In addition to moderating the inflation rate is likely to affect positively the expectations.

Emerging markets like India should take measures to promote long-term foreign direct investment to blunt the volatility of exchange rates, and all major controls must be selective and temporary, a senior official of the Asian Development Bank , said Monday the 14th November 2011. While capital flows and exchange rates should be volatile in the short term among the current concerns of debt in the euro area, India is focusing on improving the investment climate by providing better infrastructure for establish a policy of making consistent and financial market development, Director General Rajat M. Nag said on the sidelines of India Economic Summit.

Asian stocks fell for a fourth straight day on Friday, November 18, 2011, driven by new concerns about the misfortunes of Europe due to the outstanding debt obligations refer to tender in Spanish. Reference key indices in China, Hong Kong, Japan, Indonesia, South Korea, Taiwan and Singapore fell 0.95% to 2.08%.

The losses came after the auction Thursday, November 17, 2011, taking into account the average yield at 10 years of the Spanish government has reached a euro was high ahead of a weekend there are elections, sending U.S. European shares a sharp decline.

At the same time, Italy’s new government announced major reforms in response to the debt crisis that has pushed borrowing costs on Thursday, France and Spain, much higher. Italy’s new Prime Minister technocrat, Mario Monti, was introduced fundamental reforms to dig the country out of crisis and said Italians were facing a major emergency.

The U.S. index futures Dow Jones said could drop by 4 points in the opening bell Friday, November 18, 2011. Investors dumped U.S. stocks Thursday, frightened by the sudden drop in the market through a key technical level caused by more concerns about debt problems in Europe. New claims for U.S. unemployment benefits reached a seven-month high last week and weak permitted for housing future rebounded strongly in October, the latest data suggest the economy is gaining ground NRI PAN Card .


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