INDIA GETS FIRST MEDAL IN LONDON OLYMPICS

Gagan Narang has won the bronze medal for India in Men's 10m Air Rifle event.

NIFTY GAINS 100 POINTS, SUN PHARMA, POWER GRID AT YEARLY HIGH

NIFTY led by bank, infra,metal and auto stocks gained 100 points to close at 5200. Sunpharma and Power Grid touched yearly high of Rs 649 and 118.50 respectively. Cairn, IDFC and Rel Infra gained more than 5% each. HCL, Hind Unilever, Ambuja and ONGC are the only 4 stocks among NIFTY that were closed in red. ICICI Bank had the highest turn over followed by SBI. Bank stocks rally is lead by the hope of rate cut by RBI. FIIs have net purchased Rs 929cr in cash market.

AT&T'S $11BILLION BUY BACK GETS NOD

AT&T, the largest US telecoms group,  has got board's nod to repurchase up to 300m shares, representing about 5 per cent of the company’s outstanding stock. Based on the closing price on Friday, the shares would be worth $11.1bn.

MARKETS OPENS IN GREEN

Markets opened strong  with the hope that RBI may cut rates by 50 basis points in its policy review meeting on 31-07-12. FIIs have invested in excess of Rs 8000cr in equity in July 2012, is another positive factor. ICICI, Axis, Cairn and Rel Infra are the top gainers among NIFTY stocks. U S markets too closed in the positive last Friday. Our markets gaining further  momentum depends on how the European markets opens.

PRACTO GETS RS25CR FROM SEQUOIA

Practo, a start up web service portal which offers scheduling appointments with doctors has received Rs 25cr funding from Sequoia Capital. Practo is founded by two graduates from NITK, Suratkal, Shanshank ND and Abhinav Lal. Practo Ray, the company's flagship product manages 10,000 appointments per day, the service is free for patients.

KARNATAKA BANK GROWS AT 19 PER CENT

The  Bank's total business in the first quarter of FY13 has increased from Rs 45,640 crore to Rs 54,225 crore , registering a YoY growth of 19 per cent.

Bank's net profit stood at Rs 83.44 crore against Rs 49.78 crore for the corresponding period last year.

ITC TO INVEST RS 2500CR IN FMCG BUSINESS

Diversified conglomerate, popularly known as cigarette maker, ITC, plan to invest Rs 25000cr in FMCG business in next 5 years. Non cigarette FMCG brands value of ITC is worth around Rs 20000cr as on date. Aashirvaad, Sunfeast, Candyman, Fiama Di Wills, Vivel and Superia are the well known brands from ITC stable.

PNB POSTS MODERATE INCREASE IN NET

The second largest PSU bank has reported a net profit of Rs 1246cr for the first quarter of FY13, up 12.7% compared to the previous year. The total business of the bank stood at Rs 679823cr, up 20%. The bank has maintained net margin at 3.60%. The book value of the share improved to Rs 814. The bank shares lost 5% and closed at Rs 719.

HDFC BANK OVER TAKES SBI,AS MOST VALUED

HDFC bank is the most valued bank in terms of market capitalization. The bank overtook banking behemoth SBI on Friday. HDFC has market cap of Rs 1.37lac crore as against SBI's 1.30lac crore. HDFC share closed at Rs387,up3.85% and SBI at Rs 1946, down 3.46%.

SENSEX TANKS 200 ODD POINTS

Weak monsoon forecast, political uncertainty and policy paralysis are working in favor of bears. On the F&O expiry day Sensex lost more than 200 points. FIIs have net sold in excess of Rs 1000cr in cash market. This coupled with squaring off the positions in futures and options made Sensex lose 200 odd points. Bank, metal I T and Infra stocks were hit hard.

MOCK TRADING SESSIONS BY BSE

BSE will conduct a mock trading session on Saturday, July 28, 2012, to facilitate testing of the following functionality:

Cash futures Spread (CFS) Product in the Futures & Options Segment.

Trading Members using third party trading systems connected through IML and Fastrade/ FoW shall be able to execute mock trades on the cash-futures spread product. This product shall not be available for doing mock trades through BOLT TWS on July 28, 2012.

MARKETS OPEN WEAK, MAY CLOSE IN GREEN

On the F&O expiry day, markets tend to be subdued. Today is no different. Banks, metals, I T,  infra and Oil & Gas stocks are in red. Ambuja, Bajaj auto, Maruti and Sunpharma stocks are trading in positive territory. The market is likely to recover and  close in green, due to squaring of positions.

INDIA GLYCOLS POSTS RS 34.21CR NET

India Glycols has reported almost 50% increase in its revenue in the first quarter of 2102 , compared to the first quarter of 2011. Revenues in first quarter this year stood at Rs 949cr and net profit at Rs 34.21cr. This gives an EPS of 12.27. For For FY12, the company had reported an EPS of Rs 37.50

BARISTA LAVAZZA TO SPREAD WINGS TO SMALLER CITIES

Barista Lavazza, the Italian coffee major is planning to set up shops in tier 2 cities via franchise route. The north centric coffee retailer has 160  outlets in the Delhi NCR region, largely company owned. It will follow a different business model to expand its wings in tier 2 cities with franchise model

YES BANK'S GROWTH STORY CONTINUES

Yes Bank has come out with stellar performance in one more quarter. The bank reported a net profit of Rs 290cr for the June quarter, as against Rs 272cr reported in the previous quarter. The bank's CAR(as per basel II) stood at 16.53%, one of the highest in the industry. The new generation bank has 72% increase in CASA deposits. Net NPA is at the lowest level among all the banks at 0.06%. The bank is also recipient of the number one sustainable bank of the year award for 2012, for Asia/Pacific region. The bank offers highest interest on savings account at 7% p.a.

BSE DERIVATIVES TRADING ACHIEVES A MILESTONE

Derivatives trading  has been a monopoly of NSE. The country's oldest stock exchange BSE is catching up very fast. BSE's  trading volume of its derivatives crossed Rs. 1 lakh crore mark on Wednesday. The BSE derivatives trading registered a turnover of Rs. 1,08,933.86 crore with 42,47,023 contracts traded.

The Index future registered a turnover of Rs. 1,538.38 crore with 60,892 contract traded today. The Index Option (call) posts a turnover Rs. 93,099.69 crore and Index Option (put) clocked a turnover of Rs. 14,295.68 crore.

BIG B TO CARRY OLYMPIC TORCH

Angry young man and undisputed Megastar Amitabh Bachchan will carry the London Olympic torch in London, a day before the opening ceremony of the Games.The actor will be part of the relay team which will carry the torch.

VIJAYA BANK'S NET IMPROVES

The Bangalore head quartered public sector Vijaya Bank,  announced a robust 54.20 per cent growth in its net profit at Rs 111.36 crore for the first quarter ended June 30, 2012, compared to Rs 72.22cr in the last quarter.

The bank’s operating profit has come down to Rs 258.87 crore in Q1 against Rs 325.51 crore in Q1 last year.  Bank's net interest income during the quarter rose by 7.57 per cent to Rs 455 crore from Rs 423 crore. 

APPLE GROWS BIGGER

The most valuable technology company Apple has posted a 21 per cent growth in net profit at US$8.82 billion in the three months ended June 30, 2012. However on sequential basis the net profit has come down considerably from $11.62 billion in the first quarter.

For the quarter ended June Apple’s revenue rose to US$35 billion, an increase of 22.3 per cent from US$28.6 billion that it reported in the same quarter last year.

MINDTREE AMONG TOP 5 GLOBAL R&D - ZINNOV

Zinnov Consulting has ranked MindTree among the top 5 global R&D services providers, in its annual ratings report.

METAL, BANK AND AUTO STOCKS DRAG NIFTY

NIFTY was down 19 points in lackluster trade, before expiry. HCL which posted good numbers was up almost 7%. The other notable gainers among NIFTY stocks are DLF, ITC and Ambuja Cements. Jindal Steel lost 4.5% to close at Rs 395, its yearly low. This stock has lost 40% in the last one year. The other stocks that hit the yearly low are I T Major Infosys and BPCL. HCL topped the turn over in NIFTY with Rs 381cr, followed by SBI with Rs 356cr. FIIs yesterday had net sold shares worth Rs 253cr in cash markets.

RELIANCE MEDIA WORKS PLANS RS 600CR RIGHTS ISSUE

Reliance Media Works has informed the exchanges about its plan of raising Rs 600cr through rights issue. The ratio, premium and timing is not yet decided.

IPO NEWS: V-MART FILES PAPERS

V-Mart, New Delhi based retail chain company has filed papers with SEBI for an IPO. The company has plans to offer 57 lacs shares of Rs 10 face value. The price band has not been decided. There is offer for sale of 17.35 lac shares by Naman Finance and Investments. The funds are intended to be utilized for setting up of 60 new stores and towards working capital requirements.

The company made profits after tax of Rs 10.61 crore in the year ended March 31, 2012 on a revenue of Rs 281.95 crore. Anand Rathi Advisors are the BRLM to the issue.

BMC,MMC ARE THE MOST PREFERRED COLLEGES

Bangalore Medical College and Mysore Medical College are once again emerged as the first priority of CET toppers wishing to study medicine. Similarly RVCE and PESIT are the preferred for engineering studies.

INFY TO HIRE 2000 STAFF IN U S

INFY which recently opened a center in Milwaukee, Wisconsin, has plans to hire 2000 people in 2012 in U S. The company as at the end of 2011 had 1100 employees in U S.

HCL'S NET JUMP TO RS 854CR

HCL Technologies, contrary to Infosys numbers, posted a 67.3 per cent jump in net profit at Rs 854crore for the fourth quarter ended June 30, compared to Rs 511 Cr in the previous year.
 

For the full year the revenues increased by 31.2 per cent  to Rs 21,031.2 crore from Rs 16,034.2 crore in the previous fiscal. And the company reported a 47.8 per cent jump in its consolidated net profit at Rs 2,526 crore, as against Rs 1,709.4 crore in 2010-11.The company follows July- June financial year.

OBAMA HONOURS YOUNG INDIAN AMERICAN

President Obama honoured four Indian American scientists award recently in Washington. The recipients of the Presidential Early Career Awards include Biju Parekkadan of Harvard Medical School, Pawan Sinha and Parag A Pathak from MIT and Vedula Sarma of Johns Hopkins University. The awards were established by Bill Clinton in 1996.

NSE NEWS : 51 STOCKS REMOVED FROM F&O

NSE has excluded 51 stocks from derivative segment, which includes BF Utilities, Delta corp, Educomp, Essar Oil, HCC, Jet Airways, Lanco Infra, MRPL, S. KumarsNationwide, Tata Coffee,TTK Prestige, TVS Motors and Videocon Industries. After the exclusion there will be 169 companies in F&O segment.

GODREJ INDUSTRIES RAISES RS 405CR

Godrej Industries has raised Rs 405cr through institutional placements. The company has placed 1.56cr shares in the price band of Rs 210-235. The stock closed at Rs 231 in the exchanges yesterday. Promoters hold 79.10% in the company. Kotak securities coordinated the placements. As per SEBI's new norms the promoters holding is capped at 75%.

INVESTORS BE AWARE - TRADING INDIA PORTFOLIOS IS NOT REGISTERED WITH SEBI

SEBI has issued a caution notice on Trading India Portfolios Limited / TIPL. SEBI says this company is not registered with them. The company's registration details provided in its website are false. SEBI has further warned not deal with the company or its managing director Ankush Srivastav.

FAB INDIA PLANS IPO

Fab India has a unique business model. It sources ethnic garments and other merchandise from 200 odd artisans and sells them in 162 Fab India stores across India. The unlisted company is valued around Rs 1500cr. L Capital is waiting for FIPB approval to pick up 8% stake in the company at Rs 120cr. The IPO is expected before 2014.

GOVT CLEARS FDI WORTH RS 1584CR

The government has cleared FDI worth Rs 1584cr, including Rs 225cr of CLSA. Govt has cleared a total of 14 proposals.

KARNATAKA GOVT WAIVES FARM LOANS WORTH RS 3500CR

The state government has waived farm loans up to Rs 25000.  Loans taken between Aug 2011 to June 2012 from cooperative institutions are eligible for this waiver. B S Yediyurappa in speech in the assembly on Monday has requested for Rs 10,000 Cr relief for framers due to severe drought conditions in the state.

RIL BUYS BACK SHARES WORTH RS 2618CR

RIL has bought back 3,66,03,250 Equity shares worth Rs 2618cr as on 24-07-12.

IPO ANALYSIS: SANGAM ADVISORS LIMITED -AVOID

ISSUE DETAILS

ISSUE OPEN / CLOSE	24-07-12 / 26-07-12
ISSUE PRICE / FV	RS 22 / RS 10
ISSUE SIZE	23,04,000 SHARES
LEAD MANAGER	ARYAMAN
PROMOTERS	GIZA ESTATES
REGISTRAR	PURVA SHARE REGISTRY
LISTING	BSE SME

Sangam Advisors are engaged in the business of providing diversified financial services with primary focus in assisting small and medium enterprises in corporate and non corporate sector in their financial planning and arranging funds for them. Among others the services include - Debt Syndication Advisory Services, Corporate Advisory, Investment in Shares / Debentures / Bonds.

MARKETS OPEN WEAK ON GLOBAL CUES

Markets have followed the Asian and other global markets and trading in negative territory. Maruti is the biggest loser among NIFTY stock. The stock is trading around Rs 1087, down 5%. Except some pharma stocks all other NIFTY stocks are in red. Political uncertainty too added for the negative sentiments. However, NIFTY is expected to recover from the current level, by close.

PSU BANKS TO MEET FINANCE MINISTRY ON BASEL III NORMS

PSU banks have been advised to prepare their capital requirement plan for the current fiscal by second week of August.

The Finance Ministry may hold discussions with the management of the banks in the last week of August. The capital requirement plan for the banks should also include investment needs of its subsidiaries or the joint ventures.  The Basel-III is to be implemented from January 1, 2013. There is a pressure on banks to have more equity capital.

VODAFONE REVENUE DECREASES

Slow down in Europe and India has hit the telecom giant Vodafone. It reported an 7.7 per cent decline in revenues at 10.7 billion pound (Rs 92,755 crore) for the quarter ended June 30, 2012. The  Indian out fit has contributed Rs 8842cr.

BABA RAMDEV AIDE ARRESTED

Balkrishna, the junior guru in the Ramdev citadel, was arrested by the CBI after a non-bailable warrant was issued against him by a special court in an alleged fake documents case.

Earlier in the second week of July, the agency had filed a case against Balkrishna in respect of alleged submission of fake and forged documents to obtain an Indian passport.

The agency has alleged that Balkrishna along with the then Principal of Sanskrit Mahavidayala, Khurja in Uttar Pradesh had conspired to issue the former fake educational certificates which he used to obtain passport.

The agency has booked the duo under IPC sections related to criminal conspiracy, cheating and forgery, and imposed additional charge for the alleged violation of the Passport Act against Balkrishna.

FITCH REPORT ON CHINA

Fitch Ratings says in a new report that China will likely see a soft landing despite the slowdown in growth evident in Q212. However, renewed reliance on investment to support activity threatens to prolong the Chinese economy's structural imbalances.

Official figures indicate that the Chinese economy is likely to avoid a hard landing in the short-term. China's growth slowed to 7.6% in Q212, the weakest reading since Q109. Fitch maintains its 8% projection for Chinese growth in 2012, implying annualized growth of 8.1% in H2.

 
Fixed asset investment growth picked up to 20.4% yoy in the six months to June 2012, up from 20.1% in the five months to May. Residential construction remains weak, but items related to infrastructure, such as utilities and transport, performed more strongly. Official data continue to record a surplus of vacancies over job-seekers in the cities, while income growth is holding up. Export growth is outpacing imports despite weak global growth.

POLITICAL UNCERTAINTY DRAGS NIFTY DOWN

The threat of NCP leaders resigning from the Central government was the spoiler of the market sentiments. NIFTY was down 37 points. Forty out fifty NIFTY stocks closed in the red. Bajaj auto, Maruti and Asian Paints were up 2% each in the subdued market. Other than Bank of Baroda all other bank stocks in NIFTY closed in negative territory. FIIs net purchased to the extent of Rs 178cr in cash markets.

MICROSOFT’S HISTORIC LOSS

Only one out of five acquisitions adds value to the parent company. Others will fail miserably. The computer giant has literally experienced it. Microsoft has made the first quarterly loss in its history, after it became a public company, it wrote off some of the value of its online advertising business.

The loss is from Aquantive. MS acquired it in 2007 for $6.3bn. The entire amount has been written off.

That led to a $492m loss in the three months to the end of June, compared with a profit of $5.9bn a year ago. The company had not made a loss since it joined the stock market in 1986.

LANCO MAY GO FOR BIGGEST CDR

The Hyderabad based real estate and infra company which went into unrelated diversification of power generation has been struck with heavy long term debts. Recently CRISIL down graded the long term debts of  Lanco Power as moderate risks. Like DLF this company too is sitting on a debt of Rs 23000cr. If referred to CDR, this will be biggest ever, surpassing GTL group's Rs 16000cr recast. Lanco's cash flow has been strained due to delay in projects implementation and lower capacity utilization.

DLF TO SELL NTC LAND TO LODHAS

The debt ridden real estate major DLF are in advanced stage of selling 17 acre NTC land in Mumbai for Rs 2800cr to Mumbai based Lodha Developers. DLF has debts in excess of Rs 22000cr and wants to reduce it to below Rs 15000cr by selling non core assets, by the end of FY13.

SHARAD PAWAR AND PRAFUL QUIT CABINET

Nationalist Congress Party's chief Sharad Pawar and party member Praful Patel sent in their resignations to Prime Minister Manmohan Singh.

Pawar was said to have been upset over not being made number two within the UPA government.

INFY GETS ADDITIONAL $65 MILLION CONTRACT FROM APPLE

Good news for beleaguered I T giant Infosys. Apple, the $108 billion maker of iPhones and iPads is scaling up its outsourcing business with Infosys. Infy has taken on lease 1.4 lac sq-ft office office near Electronic City to house employees who would work exclusively for Apple. About 1500 employees are likely to be housed in new the center, which is likely to be operational by year end. The stock closed at Rs 2240, up 2.80% in the exchanges yesterday.

IPO ANALYSIS: JUPITER INFO MEDIA LIMITED

ISSUE DETAILS
 

ISSUE OPENS / CLOSES ON	30-07-12 / 01-08-12
ISSUE SIZE	20,40,000 SHARES
PRICE BAND / FV	RS 20 / RS 10
PROMOTERS	UMESH MODI, MANISHA MODI
LEAD MANAGER	ARYAMAN
REGISTRAR	KARVY
LISTING	BSE –SME
BUSINESS	Web info media company with online publication on Business, Encyclopedia, Yellow pages, News & Events related to India. The company aims to develop the India’s largest online library, which will provide fast and accurate information to its visitors about India.

YAHOO REPORTS FLAT NUMBERS FOR APRIL-JUNE.

Not so good news for the incumbent CEO Marissa Mayer. Yahoo's revenue stood at US$1.08 billion in the second quarter of 2012, as against US$1.07 billion in the year ago period.  The struggling Internet company has reported a decline of 4.2 per cent in net income at US$228.4 million for the April-June period this year.

INTEL REPORTS LOWER PROFITS

The California-headquartered, INTEL, has announced a net income of US$2.80 billion, in the second quarter of 2012. This is 4% lower than what it was a year ago, for the same period. Intel’s revenues in the June quarter jumped 3.6 per cent to US$13.5 billion. The same stood at US$13.03 billion in the year-ago period. The results are not so bad in the challenging global economic conditions.

GLOBAL CUES, FII BUYING MAY TAKE NIFTY BEYOND 5300 LEVEL.

Asian markets are trading in green. Yesterday both U S and Europe markets ended in the positive territory. SGX NIFTY too up by 40 odd points in the early trade.This, coupled with continuous buying by FIIs may take the NIFTY beyond 5300 level by week end. Once the presidential results are out in the evening government may announce some major policy decisions.  That may improve the sentiments of the markets. Stay invested.

PRESIDENTIAL ELECTIONS : PRANABDA MAY GET 70% VOTES.

After TMC has decided vote for Pranabda, even smaller regional parties, opposed to the ideology of Congress are likely to cast their vote in favor of Pranabda. Of the 10,98,882 votes, the UPA candidate is likely to get nearly 70% of the votes, making the contest, a cake walk. Even some dissidents in BJP particularly the Karnataka cadre are likely to vote in favor of former finance minister.

RELIANCE MEDIA TO RAISE RS 605CR

Reliance Media has plans to raise Rs 605cr by selling equity stake to PE investors. The funds raised will be utilized for expansion  activities of  its three divisions - Media Services, Big Cinema and Big Synergy. Big Cinemas has nearly 500 screens spread across India, Malaysia, Netherlands and U S.

SENSEX UP 80 POINTS

Today's rally was led by auto, metals and infra stocks. Bajaj Auto gained the most. The stock was up by  5.32%. FIIs continue to stay net buyers, having bought to the extent of Rs 276cr in cash market, today. The newly listed IPO - VKS Projects closed flat.

DI BELLA COFFEE PLANS JOINT VENTURE

Di Bella, an Australian coffee maker, has floated a 70:30 joint venture with Sachin Sabharwal, in India. This arrangement is different from what the most international coffee chains have followed - franchise arrangement. Di Bella has 1200 wholesale and retail outlets globally and sells 2.2million cups of coffee every week.

INFY, HERO,ICICI, CAIRN AND TCS TO SIZZLE TODAY

Markets closed flat yesterday in spite of FIIs net buying to the extent of Rs 475cr in cash market. Weak monsoon forecast and mixed global cues were sentiment dampeners. I T majors INFY & TCS, ICICI, Cairn and Hero among others will sizzle today.

RINL'S RS 2500CR IPO DEFERRED

Government due to weak market conditions has deferred RINL's RS 2500CR IPO2500 for the time being. The recently listed IPO from the government stable - NBCC is trading below its offer price. This also could be the one of the reasons.

MARKETS TO OPEN AND CLOSE IN GREEN

Markets is likely to snap 3 day's losing streak and may open and close in green with substantial gains. FIIs have  net bought in cash markets during this month, so far. The fall started with bad numbers of Infosys and not so robust guidance for FY13. Added that was weak monsoon rain in July. Tech ,Pharma, banks, auto and metals segment stocks are expected to recover today.

INFOSYS BPO IS LOOKING FOR BUYOUTS

The parent is struggling to show growth for which it is famous for. However its baby - Infosys BPO is actively scouting for buyouts to double its annual revenues to $1 billion. Infosys has a cash balance in excess of $4 billion.

NSE NEWS: SHIFTING OF SECURITIES TO 'T' GROUP

The following securities are shifted to trade for trade segment with effect from 20-07-12. The applicable circuit filter is 5%.

3i Infotech Limited

Ankur Drugs And Pharma Limited

Arrow Textiles Limited

Ashima Limited

B.A.G Films and Media Limited

Bang Overseas Limited

Consolidated Construction Consortium Limited

Decolight Ceramics Limited

Dwarikesh Sugar Industries Limited

FCS Software Solutions Limited

Gufic Biosciences Limited

Hitachi Home and Life Solutions (India) Limited

Indosolar Limited

IOL Netcom Limited

JCT Electronics Limited

Kesar Enterprises Limited

KDL Biotech Limited

Marksans Pharma Limited

Mawana Sugars Limited

McDowell Holdings Limited

Morarjee Textiles Limited

The Oudh Sugar Mills Limited

Parrys Sugar Industries Limited

Patspin India Limited

Pearl Polymers Limited

Prajay Engineers Syndicate Limited

Quintegra Solutions Limited

Rajshree Sugars & Chemicals Limited

Rana Sugars Limited

Ranklin Solutions Limited

REI Six Ten Retail Limited

RPG Life Sciences Limited

RSWM Limited

Sabero Organics Gujarat Limited

Sakthi Sugars Limited

Samtel Color Limited

Shree Ganesh Forgings Limited

Simbhaoli Sugars Limited

Spentex Industries Limited

Sterling Biotech Limited

Thiru Arooran Sugars Limited

T T Limited

Upper Ganges Sugar & Industries Limited

Uttam Sugar Mills Limited

V2 Retail Limited

Vimta Labs Limited

Walchandnagar Industries Limited

Websol Energy System Limited

Zee News Limited

I T, METALS AND BANK STOCKS DRAG NIFTY

NIFTY lost 30 points to close at 5197. The indices were in green after the June inflation numbers were out. However lowering of the growth prospects for IT and IT enabled segments by some research house and to some extent worries on monsoon, the indices lost momentum and turned red. Infosys has lost more than 12% since its first quarter results announced. Today it reached its yearly low of Rs 2162, before closing at Rs 2167. TCS, Tata Steel, Jindal, Tata Motors and Rel Infra are the other major losers among the NIFTY stocks. BPCL too hit yearly low. The turn over in the cash segment was below the average.  Surprisingly in the subdued market, RIL closed in the green. FIIs net purchased to the extent of Rs 257cr in cash market.

ONGC IS NUMBER 1 IN MARKET CAP

The bellwether IT major TCS has lost its number 1 market cap position to state run ONGC. TCS trading at Rs 1216 has a market cap of Rs 2.38lac crore where as ONGC trading at Rs 287 has market cap of Rs 2.45lac crore. RIL(Rs 721) is at third spot with a market cap of Rs 2.36 lac crore.

KFA AT YEARLY LOW, IN SINGLE DIGIT

The beleaguered air line company shares are trading in single digit after hitting yearly low of Rs 9.85. The company's market cap is around Rs 800, also at all time low.

JUNE INFLATION A TAD LOWER

The WPI  for June is at 7.25%, as against 7.55% in May 2012. Markets, helped by rate sensitive stocks, recovered form day's low and now trading in green territory.

LISTING NEWS : VKS PROJECTS TO LIST ON 18-07-12.

VKS Projects, whose IPO was closed on 04-07-12 will lists its shares on 18- 07-12.

RELIANCE MF TO LAUNCH SCHEMES FOR SUPER RICH

Reliance mutual fund will launch mega infra debt fund with a minimum ticket size of Rs 1Cr. Each unit is priced at Rs 10 laks. The target group includes super rich individuals, NRIs, FIIs, QFIs and other Institutions. In view of policy paralysis infrastructure industry has been growing at very slow pace. It is likely to pick up momentum in the coming months. There is good appetite in the market for infra debt instruments.

BANKS TO RECRUIT 7,50,000 EMPLOYEES

Large scale expansion, financial inclusion and normal retirement in the next 5 years will create more than 7laks jobs in the banking industry. Those who have technology skills stand a fair chance of getting into the sector. Nearly 2 lac employees are likely to be recruited in 2013 alone as most employees who had joined the bank immediately after nationalization are likely to retire in large number in 2013.

JASWANT SINGH IS NDA'S CANDIDATE

NDA has announced, that the senior BJP leader and former foreign minister Sri Jaswant Singh as its candidate for the vice presidential elections. The Congress led UPA has already announced that the present vice president Sri Hamid Ansari as its candidate. Trinamol Congress has suggested the former governor of West Bengal Sri Gopalakrishna Gandhi. However Mr Gandhi refused to contest the election.

IPO ANALYSIS: MANCHESTER UNITED – STAY AWAY

ISSUE DETAILS:

ISSUE SIZE	$ 100 MILLION
OWNERS	GLAZER FAMILY
NICK NAME	RED DEVILS
ISSUE DATE	- -
PRICE RANGE	- -
SPONSORS OF THE CLUB	NIKE AND AON
LEAD UNDERWRITERS	Jefferies, Credit Suisse, J.P. Morgan, Bank of America Merrill Lynch and Deutsche Bank Securities.

MATTERS OF CONCERN:

1. Manchester United faces significant financial risks, given its debt of $841 million and the very structure of the business puts its customers - the fans - at odds with shareholders.

2. Some are concerned that the US stock market has not had many sports-team listings, so there is not much to compare the club with.

3. Like many sports franchises, the team's success on the pitch is largely contingent on its ability to spend cash on players - through both transfer fees and high wages.

4. The authorities may curb transfer spending by top English clubs. The pressure on a leading club like Manchester United to spend heavily, in an attempt to stay as a top team, remains. Such spending can eat up profits rapidly and lead to volatile financial results. At the same time, if a club like Manchester United cuts costs and does not go into the market for expensive new players; the value of its brand can be at risk.

5. The chances of shareholders making money from this IPO are very little.

VIEWS AND RECOMMENDATIONS

Forbes magazine has valued Man U at $2.24 billion, making it the world's most valuable soccer side for eight years running.

Owning a club is an extreme luxury, a kind of a show off and ultimate status symbol. One should have a deep pocket, passion, commitment for it. Creating value for all stake holders is not the primary objective, it is incidental. Hence these kinds of IPOs may not earn money for IPO investors.

STAY AWAY FROM THE IPO.

SUSHIL KUMAR IS OUR FLAG BEARER

The Indian Olympic Association has announced that wrestler Sushil Kumar, gold medalist at Beijing Olympics, will be the flag-bearer of the Indian contingent of London Olympics.

MINDTREE POSTS GOOD NUMBERS

Software services company MindTree has reported better than expected numbers. For June quarter the company reported a net profit of Rs 89 crore, up 31% compared to previous quarter.

Revenues, in rupee terms, rose by 7% to Rs 563 crore from Rs 525.7 crore.

The stock is up almost 4% and trading around Rs 682 in the exchanges.

SHANTI GEARS COMES INSIDE TUBE

Tube Investments, a Murugappa group company has acquired 44.1% stake in Coimbatore based Shanti Gears for Rs 292Cr. TI will pay Rs 81(FV RS1) a share. The shares of Shanti Gears are trading around Rs 60 in the exchanges. Shanti gears has six manufacturing facilities and posted a net profit of Rs 28cr, on sales of Rs 178cr for FY12.

BIHAR GETS TWO CENTRAL VARSITIES

The ministry of HRD has cleared the proposals to establish new central varsities at Motihari and Gaya, in Bihar.

MOBILE SHIFT, THE NEXT BIG THING - ZUCKERBERG

Bringing Facebook features to hand gadgets is the biggest challenge for Facebook says the 28 year old CEO. FB is experiencing difficulty in generating more revenue from its mobile service in order to maintain growth. FB's IPO listing was a flop show in the exchanges. The stock is still trading below its IPO price. The stock closed at $30.72 in the NYSE, on Friday.

JANALAKSHMI MFI RAISES RS 80CR

The big boys of the segment are find it difficult to stay afloat and raise funds. However little known, not so aggressive mid sized MFI - Janalakshmi has raised Rs 80cr in difficult times. The funds has come from GAWA MF Fund, India Financial inclusion fund and Vallabh Bhansali.  One only wishes that these MFIs do not commit the blunders made by SKS Micro Finance.

EMPLOYEES DEVELOP COLD FEET AT INFOSYS

The bellwether IT company has lost 8000 staff in the June quarter. Among others the reasons attributed are  slow growth rate projections, freeze on increments and promotions. The company's CEO says they are running a marathon and not a sprint. But many employees think otherwise.

HDFC BANK'S NET PROFIT AT RS 1417CR

The country's most preferred bank in the private sector, HDFC, has reported good numbers for the second quarter. The net profit rose by 31% to rs 1417cr. The bank has shown robust growth in fee based income and Forex earnings. The bank's balance sheet size stood at Rs 3,60,001 Cr as on 30-06-12. The company maintained net interest margin around 4%, one of the highest in the industry.

CHINA'S GDP GROWTH SLOWS DOWN

China's YOY growth of 7.6% in the second quarter, was below the expected 8% growth. The growth has shown slackness for the sixth consecutive quarter, in the world's second largest economy.

BIGGEST BANK TAKES A HIT OF BIGGEST TRADE LOSS

J P Morgan Chase, the biggest U S bank has taken a hit of $4.4 billion from trades, from its London branch. J P Morgan reported second quarter net income of $4.96 billion compared to $5.43 billion in the previous quarter. The company's shares closed at $34.25, on Friday.

FIIs STILL BULLISH ON INDIA.

NIFTY lost more than 100 points in the last 3 trading sessions due to variety of reasons, the major being poor numbers and weak guidance by IT major Infosys. However FIIs continue to be bullish on India. FIIs have pumped in excess of Rs 7000cr in the month of July. If the uncertainty over GAAR provisions are removed / cleared, the funds flow are expected to increase many fold since FIIs are convinced about India growth story.

GOVERNOR EXPRESSES DISPLEASURE ON TAINTED

H R Bhardwaj has expressed his unhappiness over inclusion of 5 tainted MLAs in Shettar's ministry, despite his advise. The ministers in the dock are C T Ravi, Yogeshwar, Murugesh Nirani, M P Renukacharya and V Somanna. Incidentally the five belongs politically strong Lingayut and Vakkaliga communities.

SHETTAR TAKES OATH AS 21ST C M OF KARNATAKA

BJP creates history in Karnataka. Shettar took oath as 21st C M of the state. For the first time there are 2 deputy chief ministers. The complete list of Shettar's cabinet, are as follows:

SL.NO	NAME	DESIGNATION
1	JAGADISH SHETTAR	C M
2	K S ESHWARAPPA	DEPUTY CM
3	R ASHOK	DEPUTY CM
4	UMESH KATTY	-MINISTERS-
5	GONIND KARAJOL
6	SURESH KUMAR
7	KAGERI
8	BASAVRAJ BOMMAI
9	C M UDASI
10	SOMANNA
11	RENUKACHARYA
12	C P YOGESHWAR
13	SHOBHA KARANDLAJE
14	BACHHE GOWDA
15	NURUGESH NIRANI
16	S RAVINDRANATH
17	S RAMDAS
18	ANAND ASNOTIKAR
19	REVUNAIK BELAMAGI
20	JARAKIHOLE
21	NARAYANSWAMY
22	RAJUGOWDA
23	BELLUBBI
24	C T RAVI
25	JEEVRAJ
26	SOGUDU SHIVANNA
27	ARAVIND LIMBAVALI
28	APPACHU RANJAN
29	ANAND SINGH
30	K BANDI
31	K SRINIVASA SHETTY
32	P J PUTTASWAMY
33	SUNIL VYALAPURE
34	KOTA SRINIVAS