UNITED BREWERIES to sell Mangalore Chemicals & Fertilisers to reliance

UNITED BREWERIES: In talks with RELIANCE INDUSTRIES to sell part of its stake in Mangalore Chemicals & Fertilisers.

Department of Telecommunication could fine six telecom

companies that have delayed the launch of their mobile services

DoT has the authority to cancel licences of mobile phone companies, which

have not started their services even a year after getting a licence.

Companies such as Videocon, Sistema, Uninor, Loop, S Tel and Etisalat DB

are accordingly likely to face fine

HOTEL shares may show some +ve trend as EIH stake sale to Reliance Industries at 184.10 rupees a share, a 22% premium to its close market price on Monday.

Smart Order Routing

Upon examination of the proposal, feedback of the stock exchanges and based on the recommendations of the Technical Advisory Committee, it has been decided to permit Smart Order Routing in Indian Securities Market.

SEBI has received proposal from the stock exchanges and market participants for introducing Smart Order Routing which allows the brokers trading engines to systematically choose the execution destination based on factors viz. price, costs, speed, likelihood of execution and settlement, size, nature or any other consideration relevant to the execution of the order. Upon examination of the proposal, feedback of the stock exchanges and based on the recommendations of the Technical Advisory Committee, it has been decided to permit Smart Order Routing in Indian Securities Market. Stock Exchanges are advised to ensure the following conditions with regard to the Smart Order Routing facility: Stock broker interested to offer Smart Order Routing facility shall apply to the respective stock exchanges. Stock broker shall submit a third party system audit of its Smart Order Routing system and software. Stock exchanges shall disseminate to its stock brokers a list of approved system auditors (CISA or equivalent) qualified to undertake such system audits. Stock broker shall provide the following to the respective stock exchanges: An undertaking to the respective stock exchanges that Smart Order Routing shall route orders in a neutral manner. Provide the features of the Smart Order Routing to stock exchange. Stock exchange shall communicate its decision to the broker within 30 calendar days of the date of receipt of application by the exchange. Stock exchange shall ensure that brokers adhere to the best execution policy while using Smart Order Routing. Smart Order Routing facility shall be provided to all class of investors. Stock broker shall enter into a specific agreement with the client to provide Smart Order Routing facility. Broker-client agreement shall clearly describe the features of the Smart Order Routing facility and the obligations and rights associated with Smart Order Routing facility. Stock broker shall maintain logs of all activities to facilitate audit trail. Broker shall maintain record of orders, trades and data points for the basis of decision. In case the client has availed Smart Order Routing facility and does not want to use the same for a particular order, the same shall be well documented by the stock broker. System audit of the Smart Order Routing systems and software shall be periodically carried out by the brokers as may be specified by the exchange and certificate in this regard shall be submitted to the exchange. Stock exchange shall ensure that Smart Order Routing is not used to place orders at venues other than the recognised stock exchanges. The stock broker shall carry out appropriate validation of all risk parameters before the orders are placed in the Smart Order Routing system. Stock exchange shall provide unique identification number for the orders placed through Smart Order Routing system. Further, stock exchanges shall maintain data on Smart Order Routing orders and trades. Stock exchange shall have necessary surveillance mechanism in place to monitor trading done through Smart Order Routing. Stock broker shall ensure that alternative mode of trading system is available in case of failure of Smart Order Routing facility. Stock exchange shall ensure that within a period of three months from implementation of Smart Order Routing, a system is put in place to time stamp market data feed that is disseminated to the market, if the same is not already available. Stock exchange shall strengthen investor grievance cell in order to address complaints, if any, received with regard to Smart Order Routing. Further, in case of any disputes or complaints, stock exchanges shall share necessary data as and when required in order to facilitate necessary examination. Stock exchange shall synchronise their system clocks with atomic clock before the start of market. The broker server routing orders placed through Smart Order Routing system to the exchange trading system shall be located in India. All other existing obligations for the broker as per current regulations and circulars will continue. Stock exchange may specify additional safeguards as they deem fit for allowing Smart Order Routing facility to their brokers. The Stock Exchanges are advised to: Put in place the adequate systems and issue the necessary guidelines for implementing the above decision. Make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above Bring the provisions of this circular to the notice of the stock brokers and also disseminate the same on their website. Communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Free intraday trading tips

Buy Glenmark Pharma with target of Rs 362 and stop loss of Rs 280.

Buy Ranbaxy with target of Rs 515 and stop loss of Rs 484.

Sell Hero Honda with target of Rs 1850 and stop loss of Rs 1900.

Intra-day Cash: Sell Maruti below 1224, Stop Loss 1233, Target 1215-1200

Gujarat Pipavav IPO Opens Today

We recommend only Long-term investors to apply for the IPO.
The company plans to raise Rs 500 crore via its offering of nearly 10.4 crore shares in the primary equity market, at the top end of the price band of Rs 42 to 48 per share. Post issue, the promoter group’s stake would reduce from 57.9% to 43.5% levels.
It plans to use up to Rs 300 crore of the IPO proceeds for repaying loans and its secured loans amounted to Rs 1,072.6 as of March 2010. Further, Rs 82.5 crore are earmarked for capex to enhance the infrastructure facilities at its port, and Rs 31.08 crore for purchasing a mobile harbour crane.

Initial Public Offer (IPO)

GUJARAT PIPAVAV PORT LIMITED (GPPL)

Issue Details

Issue Period: Aug 23rd - Aug 26th, 2010 (Retails Investors)

Aug 23rd - Aug 25th, 2010 (QIB)

Face Value: Rs 10 per Equity Share
Price Band: Rs 42- Rs 48 per Equity Share

Lot Size: 130 equity shares and multiples thereof

Issue Size: Rs 500 crore

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Book Running Lead Managers

Kotak Mahindra Capital Co Ltd

IDFC Capital Market Services Ltd

Registrar

Karvy Computershare Pvt Ltd

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Objects of Issue

1. Infuse funds for certain elements of ongoing expansion plan, as under:
a. Construction of Container Yards and allied facilities at Port Pipavav;
b. Phase 2 of capital dredging at Port Pipavav;
c. Purchase of Post Panamax Quay Cranes;
d. Purchase of Rubber Tyred Gantry (RTG) Cranes;
2. Repayment of Sponsor Support Loan to the Promoter, APMT Mauritius;
3. General Corporate Purposes; and
4. Achieve the benefits of listing on the Stock Exchanges.

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Company Profile

Gujarat Pipavav Port Ltd (GPPL), the developer and operator of Pipavav port, the country’s first private sector port. GPPL is promoted by APM Terminals, which is one of the largest container terminal operators in the world operating 50 terminals in 31 countries, and is part of the Denmark-based A.P. Moeller Maersk Group. Located in the Saurashtra region, Pipavav port is one of the principal gateways on the west coast, providing facilities for handling both containers and bulk cargoes. The port is connected to the North Indian hinterland with a good road and rail network. Mudra Port and SEZ Limited is one of the peers of GPPL. In the year ended December 31, 2009, the promoter group APM Terminals handled 31.0 million TEUs and had revenues of over US$ 3.00 billion.GPPL is principally engaged in providing port handling and marine services for: (1) container cargo, (2) bulk cargo, and (3) LPG cargo. In addition, they operate a CFS and also generate revenue from land-related and infrastructure activities.

Crisil has assinged an IPO Grade of 4 to GPPL IPO. This means as per Crisil the company has " Above Average Fundamentals".

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Live Share Market Update

US Stocks finished modestly lower on Friday for the second straight week on continuing concerns that the recovery has tapered off. The Dow Jones industrial average fell 0.6%. The S&P 500 slipped 0.4% while The Nasdaq composite added 0.1%.

The European markets too closed lower on 0Friday as worries over the US economic growth remained an overhang on investor sentiment worldwide. The UK's FTSE 100 declined 0.30%; The Germany’s DAX 30 fell 1.15% and The France’s CAC 40 shed 1.29%.

Crude Oil prices dipped below $74 per barrel mark on weak sentiment and lower equity markets. Currently it is trading above the $74 per barrel level.

Asian markets are trading mixed. Singapore's Straits Times lost 0.50%, Japan’s Nikkei 225 was down by 0.40%, Hong Kong's Hang Seng fell 0.45% however, China’s Shanghai Composite was almost flat 1.25%.

The domestic stock averages are expected to open in narrow range on Monday morning. For the NSE Nifty, the Critical level for upside is seen at 5518. The trading range for today is between the Critical level and the first Resistance 5546. Inditrade: If Nifty manages to crosses-over this mark decisively, it can target the second and strong Resistance at 5560. However, any move below Critical is expected to favour the bears wherein first Support is seen at 5486. Lower to this, Major Support comes at 5466.

Vedanta to get Rs 500 cr if Cairn buyout fails - Oil & Gas - Energy - News By Industry - News - The Economic Times

Vedanta Group, pursuing a $9.6 billion takeover of Cairn India, will get an estimated windfall of Rs 500 crore if the target firm's Scottish promoters fail to get shareholders' nod for the deal or solicit a rival bid.
Meanwhile The government has asked Cairn Energy Plc to submit details of its deal to sell its majority stake in the company that operates the giant Rajasthan oilfields, to London-listed Vedanta Resources, Oil Minister Murli Deora said today.

Live Share Market News

After witnessing considerable weakness in early trading session, Wall Street showed notable strength in the latter part of trade wherein all key stock gauges manage to finish in the positive territory amidst a day with no major economic releases. Most stocks markets in the Asia region are trading with modest gains today morning.

Post the stellar rally in the domestic bourses yesterday, key averages are expected to open on a flattish note on Thursday. For the NSE Nifty, the Critical level in today’s trade is 5492 and any further upmove is expected only if it manages to cross this level decisively. Higher to this, bullish sentiment can drive the index above its psychological level of 5500 wherein it has a strong Resistance at 5518 mark. However, if Nifty fails to move above the Critical level, weakness may creep-in and push it towards its Support at 5466. Lower to this, Major Support exists at 5438.

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Live Share Market Update

US Stock markets closed modestly lower on Thursday as Traders and Investors were stormed by the unexpected weekly increase in US jobless claims and disappointing guidance from communications giant Cisco. Back in Asia, major stock averages are trading on a mixed note on the last trading session of the week.

Amongst the Indian stock indices, The NSE Nifty is expected to open in a narrow range in the morning. The Critical level for upside is seen at 5424, and if Nifty consolidates above this, it can Target the first Resistance at 5448. Higher to this level, Major Resistance for today is seen around 5466. However, if Nifty is unable to cross-over the Critical level, it can slowly slide down towards the first Support at 5404. Lower to this, Strong Support exists at 5382.

What is Preferential Allotment of shares ?

A private placement is an issue of shares or of convertible securities by a company to a select group of persons under Section 81 of the Companies Act, 1956, which is neither a rights issue nor a public issue. This is a faster way for a company to raise equity capital. A private placement of shares or of convertible securities by a listed company is generally known by name of preferential allotment. A listed company going for preferential allotment has to comply with the requirements contained in Chapter XIII of SEBI (DIP) Guidelines, in addition to the requirements specified in the Companies Act. In short, preferential issue means allotment of equity to some selected people by a company which has its share already listed.
In short a fresh allotment of shares to promoters, their friends and relatives on a preferential basis is called preferential allotment.

Live Share Market Update

BOMBAY DYEING: Will start construction of two commercial
towers, with saleable area of 3 mln sq ft, in Worli in the next few weeks.
.
* ESSAR SHIPPING: To restructure its business, which entails setting up two
separate listed entities--one for shipping, logistics and oilfield services,
and another for its port operations.
.
* JSW STEEL: May team up with steel majors to acquire coking coal blocks in
Australia.
.
* JUBILANT FOODWORKS: To set up a wholly-owned subsidiary in Sri Lanka.
.
.
M&M: Has emerged as the most likely candidate to take over
Korea's SsangYong Motor after Renault-Samsung withdrew from the race.
.
* MARUTI SUZUKI: Says parent Suzuki Motor Corp may start paying royalty to
the firm once the Japanese firm starts sourcing technology from the company's
research centre in Rohtak.
.
.
* ORCHID CHEMICALS: Fortis promoters'-owned Rexcell Pharmaceuticals has sold
part of its stake in the company in two off-market deals struck on National
Stock Exchange and Bombay Stock Exchange on Tuesday.

* RAYMOND: Deadlock over compensation for workers at company's Thane unit,
land of which the company proposes to develop into a real estate project,
continues.
.
* RELIANCE INDUSTRIES: May raise over 4500 cr006F by selling treasury shares soon.
.
* RELIANCE INFRASTRUCTURE: Is planning to set up a joint venture with China's
road developer Jiangsu Provincial Transportation Engineering Group Co to set
implement a highway project in Maharashtra.
.
* ROHIT FERRO-TECH: Plans a 2-for-5 rights issue of shares at 60 rupees each
to raise 947.6 mln rupees.
.
* TATA POWER: Government says company concealing funds in Sasan power plant
case. The Bombay High Court allows firm to challenge the Maharashtra State
Load Dispatch Centre's stand against the company in front of the Maharashtra
Electricity Regulatory Commission.
.
* TATA TELESERVICES: Denies report that Japan's NTT DoCoMo plans stake hike
in company.
.
* VIDEOCON INDUSTRIES: Posted net profit of 1.54 bln rupees in Apr-Jun on
total income of 29.05 bln rupees

MCX Holidays 2010

JAN

01: Friday: New Year
04: Monday: Muharam (Al Hijra)
05: Tuesday: Guru Govind Singh Jayanti
14: Thursday: Tamil New year, Pongal, Makar Sankranti
20: Wednesday: Basanta Panchami
26: Tuesday: Republic Day

FEB

12: Friday: Maha Shivaratri
27: Saturday: Milad un Nabi

MAR

01: Monday: Holi
16: Tuesday: (Ugadi) Telugu New Year
24: Wednesday: Ram Navmi
28: Sunday: Mahavir Jayanti

April

02: Friday: Good Friday
04: Sunday: Easter

May

01: Saturday: May Day
27: Thursday: Buddha Jayanti/Buddha Purnima
July

13: Tuesday: Rath Yatra

August

15: Sunday: Independence Day
19: Thursday: Parsi New Year
23: Monday: Onam
24: Tuesday: Raksha Bandhan

September

02: Thursday: Janmashtami/Krishna Jayanthi
09: Thursday: Ramzan
11: Saturday: Vinayaka Chaturthi

October

02: Saturday: Gandhi Jayanti
16: Saturday: Sarasvathi Pooja, Aytha Pooja
17: Sunday: Vijayathasami

November

05: Friday: Diwali
17: Wednesday: Bakrid
21: Sunday: Guru Nanak Jayanti

December

17: Friday: Muharram
25: Saturday: Christmas

Unitech share price

According to analyst, the interested investors can buy the stock above Rs 85.

The stock of the company, on August 05, closed at Rs 84.50 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 2.72 and 31.86 respectively.

The share price has seen a 52-week high of Rs 118.35 and a low of Rs 66.95 on BSE.

Unitech Ltd has declared that a meeting of its directors will take place on August 14, to consider and sanction the company's un-audited results for the three month period ended June 30, 2010.

India's second-largest realty firm Unitech has decided to get hold of its London's AIM-listed group company Unitech Corporate Parks (UCP), in an agreement, which may cost more than Rs 750 crore.

Unitech is making talks with UCP's independent directors regarding a possible bid from Unitech.

Set up in the year 1972, Unitech Ltd is notorious for the product quality and is the first realty developer to have been licensed ISO 9001:2000 certificate in Northern India.

Unitech has the most wide-ranging product mix including hotel, residential, amusement parks, commercial/IT parks, retail and SEZs.

Forex market update

Dollar/rupee rates in the non-deliverable forwards market were down today tailing the rise in key Asian currencies against the greenback/. Rise in share indices in India also dragged the dollar/rupee NDF rate down. Asian currencies such as the South Korean won rose as local shares were
off lows and also because exporters sold US dollars. The Philippine peso was trading up on hopes of inflows from foreign funds.
Expectations are that US non-farm payrolls, data for which is due to be released today, may decline by 60,000 in July compared with a fall of 125,000 in June. The one-month dollar/rupee NDF rate was at 46.2500 per dollar today compared with 46.3500 Thursday and the local outright rate was at 46.2400 rupees today.

Currency derivatives trading market update

Current rates of key Asian currencies versus US dollar in Asian trade:
Asian Present Previous Chg %
Korean 1165.3500 1166.5000 0.100
Philippine 44.9470 45.0200 0.160
Indonesian 8942.5000 8935.0000 (-)0.080
Malaysian 3.1540 3.1560 0.060
Chinese 6.7692 6.7783 0.130

The rupee is firm against US dollar because of the rise in other Asian currencies. For Intraday, we expect movement in the rupee to be range bound, like yesterday ahead of US non-farm payrolls data for July, due later today.
USDINR Spot-cmp:46.03 Resistance: 46.13 and Support 45.90

USD/INR Spot touches over 6-week low of 46.03 as local shares trade in positive territory along with Asian peers.

Live Share Market Update

Stock markets in the US finished lower on Thursday as Traders and Investors were dismayed by a jump in weekly Jobless claims and weak comparable Store sales growth by major US retailers. All key stock gauges in Asia are trading lower on Friday morning.

Back home, markets are expected to open with modest losses following weak sentiment in Asia. For The NSE Nifty, Critical level for maintaining the positive momentum is 5434. If it manages to stabilize above this mark, we may expect slow consolidation wherein the index can Target towards its first Resistance at 5455. Higher to this, strong Resistance is seen around the 5478 level. However, if Nifty breaks below Critical, we can witness further downside towards the first Support at 5412. Major Support for today comes at 5388.

Live Currency Market Update

Asia stock market today are surging ahead, supported by strong bank earnings as well as robust global manufacturing data which lifted the DOW 200 points higher Monday.

So far, the Nikkei is up nearly 120 points or 1.22% while the Hang Seng is up 0.55%. The Shanghai Composite on the other hand is battling at 0.64% below on growth concerns over China.

The financial sector is leading the charge, after HSBC and BNP Paribas reported strong second-quarter results spurring confidence in the health of the sector yesterday. In particular, both Mitsubishi UFJ Financial and Nomura Holdings are up over 2% in Tokyo.

Impact: positive for Asian currencies.

GBPUSD extends gains, hits 6-month high of $1.5914 . The dollar hovered near a three-month low against a basket of currencies on Tuesday on the perception that the U.S. growth outlook is deteriorating, forcing the Federal Reserve to keep interest rates low. The dollar index stood at 80.96, flat from late Monday but just above Monday's three-month low of 80.792.
Business conditions in the Construction sector throughout the United Kingdom worsened significantly as the Index released by CIPS and Markit Economics drops well below expectations. Actual:54.1 Prior: 58.4 in June Forecast:58.2. Impact: negative for pound.
Indian shares provisionally firmed 0.2 percent on today, with financials leading the rise, supported by small gains in world equities. The 30-share BSE index provisionally ended up 0.21 percent or 38.49 points at 18,119.70 with 14 components gaining. The 50-share NSE index provisionally closed up 0.2 percent at 5,440.05.

The dollar slipped to a 3-1/2 month low versus major currencies of 80.509, currently at 80.510, for the first time since late January.

Live Share Market Update

ACC, Ambuja fall on weak cement sales. as July sales dipped over 12% on
year. Ambuja Cements declined 0.6% as July sales fell 1.4% on year

ICICI Bank, rising nearly 1.5% on the back of
Strong Apr-Jun earnings.
Jaiprakash Associates rose nearly 1%, led by a 60% on-year rise in
July sales.
NMDC advanced nearly 3%; the company's Apr-Jun net profit soared 94% on
year on high iron ore prices.


Sintex Industries was recommended in Jan, 10 at Rs 259 for initial Target Rs 338, which was later upgraded to Rs 379. The Stock reached our target of Rs 379 in July. We would recommend the investors to Hold the stock for further appreciation. CMP 367.

Hindalco is expected to report a y-o-y rise of around 15% in Net profit to Rs 5,56 Crore for the quarter.

Live Currency Market Update

GBPUSD has pushed more than 60 pips higher in European session, extending its rally from Friday's low at 1.5550, to levels past 1.5750, to reach a fresh 5-month high at 1.5785, with Feb 17 high, at 1.5815, on sight.

EURUSD remained trading in range between 1.3050 and 1.3095 on Asian and European sessions. The pair remains trapped between 1.3095 resistance and support at 1.3020.

USDJPY after setting a bottom at 85.95, 8-month low hit on Friday, shows recovery attempts on European session, extending to levels right at 86.80 resistance area at the moment of writing.