FACEBOOK SURPASSES IPO PRICE

Shares of Facebook for the first time has surpassed its IPO price ($38). In the morning trade FB shares are traded at $38.08, for the first time since its rocky initial public offering more than a year ago. After listing, the shares had touched a low of $ 18, last November.

The world's biggest online social network has been on a roll since reporting stronger-than-expected earnings, recently. Investors are especially upbeat about its fast-growing mobile advertising revenue.

DISAPPOINTING Q1 RESULTS BY ICICI BANK

ICICI Bank has posted a net profit of Rs 2274 crore for the quarter ended June 30, 2013 as compared to Rs 1815 crore for the quarter ended June 30, 2012. Total Income has increased from Rs 11426 crore for the quarter ended June 30, 2012 to Rs 12905 crore for the quarter ended June 30, 2013. The stock is down 3 odd percent and trading around Rs 896 as of now.

MMTC TRADES AT 30% DISCOUNT TO ITS OFS PRICE

Government fixed the OFS price  for MMTC at Rs 60, a steep discount to the then prevailing price of Rs 190. Some institutions bailed out the OFS. The stock from Rs 190 has been moving only in one direction, towards south. Today it is locked downwards at Rs 41.80, thirty percent discount to its OFS price. It is time for merchant bankers and to government for serious introspection.

SBI's MARKET CAP ERODES

At the beginning of the current year SBI has a market cap around Rs 1.75 lac crore. The stock from its high of Rs 2550, on Jan 10, has fallen to Rs 1700 level. Market cap of SBI at current price is just 1.16 lac crore.  The stock has lost 16 percent in the last 30 days.

ICICI BANK JOINS PSU PACK

Almost all PSU bank stocks have under performed in the exchanges in the last one year. The negative returns ranges from 10-60 percent. Joining that select group is private sector banking behemoth ICICI. The stock has given a negative return of 7%, where as its peers, Kotak Mahindra, HDFC and Axis bank have given positive return of 17, 6 and 3 percent respectively.

DOLLAR APPRECIATION HELPS TECH STOCKS RALLY

Rupee has breached the 61 mark against the dollar in the morning trade. This has helped the tech company stocks to stage a smart rally. TCS, INFY, WIPRO, HCL and Tech Mahindra shares have gained more than a percent in the early trade. Where as the benchmark indices Sensex is down 190 and NIFTY 65 points as of now.

SELL JUST DIAL, SWITCH TO RIL / HUL

The recently listed Just dial is trading around Rs 670. Since the company has offered safety net to retail investors, the stock will trade above its IPO price till the currency of the safety net period. Once that is over, the stock, like water will find its level. We expect the stock to fall below its IPO price in the near future, basing on its fundamentals. One can sell the stock at current price and shift their investments to either RIL or HUL, which will give better returns in the medium to long term.

IOC's 10% DIS INVESTMENT DECISION TODAY

Government which holds 78.92 percent in IOC will take a decision today for disinvestment stake by another 10 percent.The  dis-investments may fetch the exchequer around Rs 4000 crore. The merchant bankers  already selected to manage the offer are -- Citibank, HSBC, UBS Securities, SBI Capital and J M Financials.

CENTRAL BANK KEEPS RATE UNCHANGED

RBI has kept the key lending rate and mandatory reserve requirement for banks unchanged, as expected. RBI  has preferred to  focus on weak rupee and raising inflation rather than economic growth. The Sensex is down 100 odd points after the policy announcements made by the central bank.

MINING, METAL STOCKS ARE MELTING

Mining and metal stocks are the worst performers in the last one year. Jindal Steel has lost 50%, Tata steel 48%, NMDC 47%, Seas Goa 35% and Hindalco 26% in the last 52 week, where as benchmark indices have risen by 8% during the same period. Slow down in China, Europe and in India has affected these stocks. There are no signs of industrial activity picking up in the countries in the current financial year. Accordingly these stocks are likely to under-perform.

BGR ENERGY LOSES FURTHER

The main source of energy for BGR, gone yesterday. The company's founder, chairmen and managing director  demised yesterday, untimely death. He was the main source of energy for this company. The stock lost ten odd percent yesterday and another nine percent in today's trade. As of now the stock is trading at Rs 81, after touching yearly low of Rs 79.60. The company's market cap has fallen below Rs 600 crore. 

GITANJALI GEMS HEADED TOWARDS SINGLE DIGIT?

Like Winsome Diamonds, Gitanjali Gems is headed towards single digit quote. The stock has seen continuous fall from Rs 500 level. The stock is down 5% today and locked at Rs 76.85. Management and some analyst attribute this to fall in gold prices. We totally disagree with this. We feel that the stock was artificially held at higher level by interested parties in collusion with operators / brokers. The chain has to break one day. One broker connected with the trading of the company's shares has been suspended by the regulator. Like Winsome, Gitanjali is likely to report losses in the coming quarters.

IS COAL INDIA HEADED TOWARDS IPO PRICE?

Coal India's IPO story was one of the most successful in the history of corporate India. The stock hit a high of Rs 409 shortly after it was listed in the exchanges about 3 years ago. Since then the stock is under performing and touching new lows. Today it is traded at Rs 270, a new low.  Its IPO price is Rs 245. If the first quarter results are  not good, the stock may test IPO price.

LS 2014 POLL PREDICTION - CONGRESS WILL GET 65 SEATS MORE THAN BJP

There is still 9 months left for the LS to complete its term.  Here is our assessment and prediction for the LS poll, as and when held. We had predicted in advance that Congress will get majority in Karnataka assembly elections and 15 BJP ministers will lose election. Our assessment and prediction has come true. 

Note : Prediction / assessment based on ground realities as on today.  Results may vary if there is going to be a Black Swan event which will have tremendous impact on either of the two major national political parties. 

S.No.	Name of Party	POSITION IN 2009	EXPECTED POSITION IN 2014
1	Indian National Congress(INC)	203	181
2	Bharatiya Janata Party(BJP)	116	136
3	Samajwadi Party(SP)	22	29
4	Bahujan Samaj Party(BSP)	21	17
5	Janata Dal (United) (JD(U))	20	21
6	All India Trinamool Congress(AITC)	18	11
7	Dravida Munnetra Kazhagam(DMK)	18	09
8	Communist Party of India (Marxist)(CPI(M))	16	26
9	Biju Janata Dal(BJD)	14	11
10	Shiv Sena(SS)	11	07
11	All India Anna Dravida Munnetra Kazhagam(AIADMK)	9	18
12	Independent(Ind.)	9	11
13	Nationalist Congress Party(NCP)	9	10
14	OTHERS	57	56
15	TOTAL	543	543

NETWORK 18 BACK INTO PROFIT MODE

Network18 Media  has posted a net profit of Rs 19 crore in the three months ended June 30 as  against a loss of Rs 90 crore a year earlier. Revenue rose 27.75% to Rs 556.6 crore from Rs 435.6 crore as compared to previous year. The company has not declared any dividend since 2008. The stock closed flat yesterday at Rs 31.

U S FERC SAYS J P MORGAN MANIPULATED BIDS

U.S. Federal Energy Regulatory Commission  has found "eight manipulative bidding strategies" used by a JP Morgan  affiliate in 2010 and 2011.

Traders used improper bidding tactics in California and the Midwest to boost profits. This has come to light  after  an  extensive investigation carried out on the matter.

U K VISA : REFUNDABLE BOND FOR SIX COUNTRIES

British Home Office  has imposed a refundable bond for visas ($4350) for high-risk visitors from six former colonies in Africa and Asia.The countries affected are Nigeria, Ghana, India, Pakistan, Bangladesh and Sri Lanka.

TEN NIFTY STOCK TOUCH NEW 52 WEEK LOW

Ten NIFTY stocks have touched new 52 week low in today's trade. IDFC ( Rs110), JP associates (39), Sesa Goa (Rs 124), Coal India (271),Tata Steel (214), Ranbaxy(294), SBI(1733), BHEL(156), L&T(836) and Sunpharma (Rs 560 ). The last two companies have issued bonus shares recently. Hence share prices have come down accordingly.

ITC, HUL CONTINUES TO BLEED

ITC and HUL which had dream run in the July series,  are bleeding in Aug series. HUL has lost Rs 25 and ITC has lost Rs 11 in today's trade.

L&T TO BUILD RIYADH METRO

Construction major L&T has bagged the prestigious international order to build Riyadh metro rail project. The order is worth s 8250 crore.  L&T stock is trading flat at Rs 844, as of now.

MARKETS TO OPEN WEAK

Growth worries in China, cautious closing of markets in Europe on last Friday may force the market to open in negative territory in the morning. FIIs have net bought to the extent of Rs 278 crore in cash market on last Friday.  However the indices are expected to close in green. 

AMAZON REPORTS LOSS

Amazon, the online retail giant has reported it lost $7 million for the quarter ended June 2013. The company has reported a profit of $7 million last year, during the same period. Amazon's sales for the quarter stood at $ 15.7 billion, up 22 percent.

PUBLICIS AND OMNICOM TO MERGE

Publicis and Omnicom have announced a merger to create the world's biggest advertising company worth $35.1bn. Publicis is based in France where as Omnicom is a U S based company. The new company will be called Publicis Omnicom Group. The new firm will have more than 1.30 lacs employees and will be listed in Paris and New York.

TCS, INFY AND WIPRO SCALE DOWN HIRING

It is evident from the hiring that the tech companies are having tough time in maintaining and securing new businesses.In the April-June 2012 quarter TCS, INFY and Wipro had hired over 8,700 persons on a net basis.

TCS added 1,390 persons, as against, against net addition of 4,962 persons in the year ago period. Infosys hired 575 persons during the quarter (1157), Wipro added 1,469 people (2600).

SAMSUNG TO OVER TAKE APPLE

Samsung's handset division is likely post an operating profit of $5.2bn in the second quarter of 2013, as against Apple's iPhone operating profit was estimated at $4.6bn, thus making Samsung the most profitable mobile company in the world.

HUL LOSES 4 PERCENT, INDICES DOWN.

Ahead of its first quarter results HUL has lost 4 percent in the early trade. The stock is trading at Rs 659, down 4 percent or Rs 28.

BIOCON GAINS ON GOOD NUMBERS

Biocon has posted a good consolidated numbers for the June quarter.The net profit after taxes stood at  Rs 93 crore for the quarter as compared to Rs. 79 crore for the quarter ended June 30, 2012. Total Income has increased from Rs. 592 crore for the quarter ended June 30, 2012 to Rs. 723 crore for the quarter ended June 30, 2013. The stock has gained 4 odd percent in the morning trade. However the stock is trading below its Nov 2012 price of Rs 321.

BUY SBI, AXIS AND ICICI BANK AT CMP

The above stocks have fallen sharply in the last few trading sessions for reasons other than the underlying fundamentals. Buy these stocks at current levels and can expect a return of ten percent in the short term.

SKS MICRO POSTS MARGINAL INCREASE IN REVENUE, NET, STOCK UP 6%.

SKS Micro, the only listed micro finance company has posted a revenue of Rs 117 crore for the June quarter as compared to Rs 95 crore posted in the immediate previous quarter. The EPS works out to 46 paise on the Rs 10 FV share.Although the company is in existence for more than a decade it is yet to come to dividend list. The stock  closed flat yesterday at Rs 99. At the current EPS the stock is trading around 50 PE.  We advise investors to sell the stock on rally.

INDICES TO SNAP LOSING STREAK, TO CLOSE IN GREEN

Benchmark indices Sensex and NIFTY are expected to close in green today. NIFTY has lost 171 points in the last two trading days, largely due to measures initiated by the RBI to stem the rupee fall and to global cues. Today being the first of new series in futures and options traders are expected to build new positions particularly in banking, FMCG, Pharma and tech stocks. Market may open weak / subdued but is expected to close  with a strong note. 

SAC CAPITAL - A VERITABLE MAGNET OF MARKET CHEATERS - FED AUTHORITIES

SAC Capital Advisors are a veritable magnet of market cheaters, says Federal Authorities. SAC is one of the most successful firm which turned out millions of profits year after year in the last decade.

The authorities argued that the firm and its units permitted a “systematic” insider trading scheme to unfold from 1999 to 2010, activity that generated hundreds of millions of dollars in profit for the firm, owned by its founder, the billionaire stock picker Steven A. Cohen.

ITC's REVENUE, NET DIP, STOCK TUMBLES

FMCG to Hotels to Exports to Cigarette Company, ITC, has posted decline in revenue for the first quarter of the current financial year, compared to immediate previous quarter. Revenues stood at Rs 7411 Cr (Rs 8247 Cr) and net profit at Rs 1891 Cr (Rs 1928 Cr). OPM margin improved to 40% as compared to 36% in the immediate previous quarter. The stock closed at Rs 358 after touching a low of Rs 350, down 4.67 percent.

RIL REGAINS NUMBER 2 SPOT

ITC which had over taken RIL as the second most valued company in terms of market cap has conceded the position to RIL, today. Market cap of RIL stood at Rs 2.88 lac crore as against ITC's Rs 2.84 lac crore. RIL closed at Rs 891, down Rs 19 and ITC closed at Rs 358, down Rs 17. TCS is way ahead with number 1 spot with a market cap of Rs 3.51 lac crore.

MARUTI'S SALES UP, NET DIP, STOCK CLOSES FLAT

Maruti Suzuki, country's largest car maker has reported 49% jump in net profit at Rs. 632 crore for the first quarter ended June 30, 2013. The company had posted a net profit of Rs. 424 crore in the corresponding period last fiscal. The net profit translate into an EPS of Rs 21 for the quarter(FV Rs 5). OPM too improved to 13.39, as compared to 9.64 in the immediate previous quarter. Favorable export realization during the quarter helped the company to show more profits inspite of decline in sales. 

Net sales during the quarter under review stood at Rs. 9,995 crore as against Rs. 10,529 crore in the same period a year ago, in line with industry trend.

The stock closed flat at Rs 1402, at BSE.

IPO ANALYSIS : ALACRITY SECURITIES LIMITED - AVOID

COMPANY	ALACRITY SECURITIES LIMITED
ISSUE OPENS/ CLOSES ON	29-07-2013 / 01-08-2013
ISSUE SIZE	RS 9 CRORE
PROMOTERS	POOJA HEMANSHU MEHTA
PRICE / FACE VALUE	RS 15 / RS 10
GRADING	NA
BRLMs	GUINESS CORPORATE ADVISORS
LISTING	BSE - SME
REGISTRAR	BIGSHARE SERVICES

VIEWS: 
1.Small time player in the highly competitive industry.
2. The company has substantial indebtedness, it appears the purpose of the IPO is to substitute debt with equity. 
3. Fundamentals are not strong.
4. Listing at only SME - BSE, illiquidity.
5. Shares are not worth even at face value.

AVOID THE IPO

PEs SHOW INTEREST IN CAFE COFFEE DAY

India's largest coffee-shop chain, Cafe Coffee Day has big expansion plans. The company is planning to rope in PE Investors to part finance its expansion.The company has received enquirers from many PE funds for investments. The company is looking to raise funds around Rs 600 crore.

JP ASSOCIATES IS DEBT RIDDEN, SELL SAYS DEUTSCHE BANK

Deutsche Bank is  advising passengers to buy railway tickets after the train has left the station. That is what the investors most of the time gets as advice from the big brokerages, investment banks and rating agencies. They inform the investors after something has drastically gone wrong with a company, providing no opportunity to exit a stock at the higher level. In the instant case Deutsche bank has  downgraded JP Associates  to "sell" from "hold" and cuts its sum-of-the-parts target price to 42 rupees from 55 rupees, citing higher-than-expected debt and calling the company "maybe the most expensive cement stock."  The stock is already trading around Rs 45, the bank reduces the target from Rs 55 to Rs 42.

FACEBOOK PROFITS JUMPS

Wall Street had a surprise yesterday. Facebook posted a stronger-than-expected earnings for the second quarter.Revenue for the quarter that ended June 30 climbed to $1.81 billion, up 53% from the same period a year earlier. The profit of $331 million compared with a loss of $157 million the California-based company posted in the same quarter last year.

In the after hour trade Facebook stock was up by 16 percent to $ 31 a share. However this spurt is still below its IPO price.

CANARA BANK TOUCHES NEW LOW

Bangalore based public sector banking behemoth Canara bank shares have touched a new low of Rs 292 in today's trade. However the stock has recovered from its low and trading around Rs 300 as of now.

HERO IN REVERSE GEAR, NET DIP, STOCK UP 4 PERCENT

Country's largest motorcycle maker Hero MotoCorp has posted a 10.7 percent fall in its first-quarter profit, the fourth straight  such decline. Hero reported a net profit of Rs 549 crore for the three months to end-June, compared with Rs 615 crore, a year earlier. Net revenue marginally rose to Rs 6160 crores from 6146 crores a year earlier. The stock is up Rs 80 in the morning trade and trading around Rs 1835.

LIC's STAKE IN INFOSYS AT 6.72 PERCENT

LIC in the last three months ending June has increased the stake in Infosys to 6.72 percent. The additional amount spent on the increase in stake is around Rs 1300 crore. 

The latest share holding patterns is as follows:

   (In percentage)

PROMOTERS	16.04
FIIs	39.55
DIIs	18.28
OTHERS	26.13
TOTAL	100

TCS COMPLETES ALTI ACQUISITION

Tata Consultancy Services has completed the acquisition of French enterprise solutions provider Alti SA, This will help the Group company to expand its reach in Europe. In all cash deal TCS has paid Rs 533 crore for the acquisition. France is the third largest IT services market in the Europe.

TCS, HCL TECH AND ITC AT NEW HIGH

Benchmark indices Sensex and NIFTY are down 1.50%, where as 3 stocks touched a new highs. TCS at Rs 1792, HCL Tech of Rs 908 and ITC of Rs 380. IDFC and L&T touched new low in today's trade.

RBI's MEASURES BLEEDS BANK, AUTO, METAL AND INFRA STOCKS

RBI's recent measures to arrest fall of rupee has adversely affected the stocks of banking, auto, metal and infra. In today's trade these stocks are bleeding. Kotak, Indusind, Axis, IDFC and J P Associates shares are down 6% each. PNB, SBI, ICICI and HDFC around 4% each. Jindal steel, L&T, Sesa and Ambuja  have lost 3% . As of now NIFTY is down 100 odd and Sensex 280 points.

CHINA'S PMI AT 11 MONTH LOW - HSBC

As anticipated the China's manufacturing activity fell to an 11-month low in July, according to a preliminary survey by HSBC.

The bank's Purchasing Managers' Index fell to 47.7 from 48.2 in June.

The data comes amid fears of a slowdown in China's  as well as over all global economy.

L&T FINANCE HOLDINGS LOAN BOOK GROWS BY 31 PERCENT

L&T Finance Holdings, the entity certain to get new banking license has posted a net profit of  Rs.144.9 crore in the quarter ended June as against Rs.120.7 crore recorded in the previous year. The growth amounts to 20 percent increase.

The company says that “the macroeconomic environment continues to remain uncertain, with limited visibility on signs of improvement in the business environment. The recent volatility in the exchange rates has increased the challenges for policymakers in an economy witnessing a slowdown.”

Its loan book grew 31.1% to Rs.34,337.2 crore in the June quarter from a year ago.

The stock closed flat  at Rs 74.55.

TITAN INDUSTRIES DEFYS GRAVITY, UP 5 PERCENT

Movements of share prices in stock market are weird. Infosys announced not so good results, the stock went up by 11 percent. Last quarter L&T announced unimpressive results, the stock zoomed. Government has imposed fresh restrictions on gold imports, the share price of  Titan industries is up by 4 percent. Titan is one of the major players in the organised jewellery market. As of now the stock is trading around Rs 273, UP 5 percent. Similarly TBZ is up 7% and PC Jewellers is up by 16 percent.

KSRTC BUS SKIDS, 10 DIE, TRANSPORT MINISTER RUSHES IN

KSRTC bus plying between Belur and Halebeedu skidded near Belur and plunged in to a lake, killing at least 10 people, including four school students. Transport minister Ramalinga Reddy rushed to the spot to over see the rescue operations. The government has also announced free treatment to all injured. 

RIL GETS UP GRADE FROM TOP BROKERAGES.

Top brokerages, Axis Capital, Goldman Sachs Group, Nomura Securities, Citigroup Global, Kotak Securities, Bank of America Merrill Lynch and Standard Chartered Bank have upgraded the RIL stock with a target ranging from Rs 1000-1150. This is on the back of its Q1 results. The stock is up Rs 9 and trading around Rs 918 as of now.

MARKET CAP OF TCS IS DOUBLE THAT OF INFY

Market cap of TCS stood at Rs 3.44 lac core as against the market cap of Infosys at Rs 1.67 lac crore. TCS is trading around Rs 1763, up Rs 17 and Infy at Rs 2907, up Rs 31 as of now.  

SET BACK FOR SAHARA PROMOTERS

The worst fear of Sahara group promoters has come true. The SEBI has now been allowed by the government to pass search and seizure orders, enforce attachment of properties and also arrest defaulters under the Securities Laws Amendment Ordinance promulgated by the President of India, last week.

The market regulator can pass orders like detention of defaulters and pass orders to recover wrongful gains made in contravention of laws. This is not what Sahara group was expecting. SC has given the Sahara group 31, Aug,  as deadline, to comply with the orders SEBI. With the above amended orders on hand SEBI can arrest Sahara group promoters.

YAHOO! DANIEL LEOB RESIGNS

Daniel Leob an activist investor who had invested in Yahoo through Third Point LLC, the hedge fund, has agreed to reduce his stake in Yahoo. Yahoo will buy back 40 million shares from Third Point, reducing the stake in the internet giant to less than 2%. As a result of his reduced holding, Mr Leob has resigned from Yahoo's board. Yahoo has been passing through a difficult phase, for some time.

PSU STOCKS KEEPS THE SENSEX ABOVE 20,300

Sensex is up 148 and NIFTY 44 points in the early trade largely due to spurt in the prices of PSU stocks. ONGC, BOB, PNB and NMDC are up 2 percent. BPCL,GAIL, Coal India, BHEL and SBI are also trading in green. The other gainers in the morning trade are IDFC,ICICI Bank, Kotak Mahindra bank and Indusind bank. L&T continues to bleed.

GITANJALI GEMS IN DOUBLE DIGIT, MARKET CAP PLUMMENTS

Gitanjali Gems is again down 5% in today's trade and locked at Rs 99.20, at the lower circuit. The controversial diamond company's shares are hitting the lower circuit for about a month for non commercial  reasons. The market cap has fallen below Rs 920 crore, from Rs 6000 crore just a month ago. There is a big question mark on the honesty, integrity of the promoters,their associates and their broker Prime Securities. Many of the entities, associated with trading of Gitanjali shares have been barred by SEBI for manipulating the share prices and other unethical stock market transactions. Gem is precious stone. However Gitanjali appears to be an ordinary stone.

NOBEL LAUREATE AMARTYA SEN DOES NOT WANT MODI AS PM

One more dissent against Modi from  a top intellectual. Amartya Sen  says Modi terrorizes the minorities and he does not approve his model of governance. As a citizen of India I do not want Modi as PM, says Amartya Sen.

ICICI BANK TO CLOSE 2 U K BRANCHES

Slow down in Europe has forced the private sector banking major ICICI to close its 2 U K branches.  ICICI has 11 branches in the U K. The bank will be repatriating $ 100 million from its wholly owned subsidiary.

L&T MARGIN DIPS, STOCK NOSE DIVES, BUY THE STOCK AT CMP

Infra major L&T reported a net profit of Rs 756 crore for the quarter, down 12 percent compared to the same quarter in the previous year. Revenues grow by a modest 5% to Rs 12,555 crore. The stock nose dived by 7.5% to close at Rs 902. Order book grew by Rs 25160 crore or 28 percent on year on year basis.

IMPORT DUTY ON GOLD RAISED TO 8 PERCENT

In an effort to squeeze the CAD, the government has raised the import duty on gold from 6% to 8%. Among others the government has also banned Banks and NBFCs from lending for gold purchases, Banks have been directed to not lend against gold coins weighing above 50 grams. Further gold imports on consignment basis for domestic use stands withdrawn. The move will affect the business prospects of Gold loan NBFCs and Gold Jewellery companies in the medium term.

NOKIA IS BURNING THROUGH CASH - MOODY'S

Nokia came for down grade warning by Moody's Investors Services. The drop in sales in the second quarter is credit negative says Moody's.

Nokia has posted a 227 million euro loss for the quarter and is burning through cash.

Nokia's net cash would likely fall to 1 billion euros after the purchase of Siemens' stake in Nokia Siemens Networks, a telecommunication systems venture. That would be below the 1.5 billion euros necessary to maintain the current Ba3 rating.

RIL NET UP BY 19 PERCENT

As anticipated Reliance Industries has reported a 19% jump in its April-June quarter net profit at Rs. 5,352 crore, due to higher refining margins.

Net profit in the first quarter of previous year stood at Rs. 4,503 crore.  However revenue  for the quarter fell 4.6% to Rs. 90,589 crore. Lower output from KG-D6 gas fields contributed to the fall.

The stock closed at Rs 923, up Rs 6.

MIND TREE'S REVENUE, NET UP

Mindtree's revenues  for the June quarter stood at Rs 647.7 crore, which is 15 per cent more than the same period last year.

Mindtree's net is up by 52 per cent to Rs 135 crore for the quarter as compared to the same period last year.

RCOM IN PRICE WAR AGAIN

Country's leading telecom operator Reliance Communications has  slashed 3G charges by more than 50 per cent to bring them at par with 2G mobile Internet prices in 13 circles, including Delhi and Mumbai. Rcom stock touched 52 week high of Rs 151, before settling at Rs 147, up Rs 4.30 over Wednesday's price.  In the last 60 days the stock has risen by more than 100 percent.

INDICES AT 6 WEEK HIGH

Benchmark indices Sensex gained 180 and NIFTY gained 65 points, taking the indices to 6 weeks high. Relinfra 6%, ONGC 5%,  Asian Paints and Axis bank gained 4% each. Asian Paints, Lupin, TCS, Sunpharma, ITC and HUL touched 52 week high. Tata Steel touched 52 week low of Rs 239 before recovering and closing at Rs 244. Only 9, out of 50 NIFTY stocks closed in red. NIFTY stocks cash market segment turn over too on the high side, indicating renewed buying by institutions. The up move is expected to continue tomorrow also.

MRF Q3 RESULTS ON 25-07, STOCK IS UP BY RS 1000.

MRF will announce its Q3 results on 25-07-2013. The stock is up by more than Rs 1000 in today's trade. The Rs 10 FV stock is trading around Rs 13,600. The company has very small equity base of Rs 4.24 crore. The company closes its books as on 30 Sept. Last year the company had made PAT of Rs 572 crore.

KOTAK MAHINDRA BANK'S Q1 RESULTS DISAPPOINTS

Private sector banks are expected to show minimum growth of 20% since they are relatively small, have best tech platform to serve the customers better and enjoy many other advantages compared to PSU banks. However Kotak Mahindra Bank 's first quarter standalone profit after tax rose only by 3.9 percent  to Rs 403 crore, non-performing assets jumped. 

Standalone net interest income grew by 27 percent Y-o-Y to Rs 917 crore. The stock is down Rs 18 in the after noon trade.

HUL TRADES ABOVE RS 700, MARKET CAP SURGES

HUL's market cap has surged past 1.50 lac crore and it is the eight biggest company in terms of market cap. The stock has gained nearly Rs 100 in the last two trading sessions. At this rate the stock may over take HDFC bank and Infosys in the near future. As on today there are only 14 companies with a market cap of Rs 1 lac crore and above. TCS leads the list with a market cap of Rs 3.27 lac crore, followed by RIL with 2.94 lac core.

WE SAW SPECIALITY TRADING BELOW IPO PRICE IN MAY 2012 ITSELF.

This is what we wrote on the IPO:

The IPO is being lead managed by one of the worst BRLM in the country. It appears Kotak has not learnt any thing from their past mistakes.  This IPO is priced around 25 PE and 4 times its book value. This is against the average cost of acquisition of shares by promoters is just 18 paise per share.

At Rs 146-155, the company is demanding a PE multiple of 20 on its expected earnings for FY13, on its post issue capital of Rs 46.95cr.

The BRLM is one of the worst performing lead managers in the country. Out of the 21 IPOs managed by Kotak in the last 2 years, only 3 are trading above the IPO price. Even an ‘at par’ issue managed is quoting below its issue price. This IPO too has been irrationally priced. It is ridiculous for promoters to ask the IPO investors to subscribe at Rs 146-154, when their cost of acquisition is just 18 paise and the company is not century old. The company was incorporated in 1999.

The stock today is trading around Rs 138, 8% discount to IPO price.

SUPREME COURT SETS 31 AUGUST AS DEADLINE FOR SAHARA

Annoyed by the delaying tactics adopted by the Sahara group he Supreme Court  pulled up Sahara group for not refunding Rs 24,000 crore to investors and said that Sahara chief Subrata Roy and directors of its two companies will have to appear before it if its order is not complied with.

The bench, which said that Sahara group must refund the amount by August 31 or face personal appearance. The case been posted for hearing on July 24. 

IBM TOO FACES SLOWDOWN BLUSH

IBM's  profit for the second quarter ending June fall 17% to $3.23 bn. Revenues fell by 3% during the same period.

FUTURE VENTURE CIRCUIT FILTER REVISED

Exchanges have revised the circuit filter of Future Ventures to 20% from 18-07-2013. 

INTEL'S REVENUE, PROFIT DOWN

Intel - the world's largest semiconductor manufacturer has reported a 5% drop in revenue for the June quarter, where as profit stood at $ 2 bn, down 29% from a year ago.This is the fourth straight quarter of declining sales for the company.Intel suffered as consumers and businesses switched away from traditional computers. 

SEBI GETS MORE TEETH TO REGULATE PONZI SCHEMES

The government has approved a proposal to amend the securities law and empower market regulator Securities and Exchange Board of India to regulate ponzi schemes and chit funds.

The amendment in the Act will give powers to Sebi to carry out search and seizure operations and attach assets. It will have powers to seek information or telephone call data records from any person or entity in respect to securities transaction being probed by it.  Ponzi schemes are popular in  in West Bengal, Orissa, Bihar and Uttar Pradesh. 

WELCOME TO KEMPEGOWDA INTERNATIONAL AIRPORT, BANGALORE

The long awaited wish of people of Karnataka been fulfilled. The Union Cabinet  has decided to rename the Bangalore airport after the city's founder, Kempegowda.
Bangalore airport is the fifth-busiest airport in the country, built over an area of 4,000 acres.  Several Kannada organisations celebrated the event by bursting crackers.

TECH OUT SOURCING TO GROW AT LOWER PACE - GARTNER

According to Gartner the worldwide IT outsourcing in 2013 is likely to grow at a slower pace than it grew in 2012.  With a growth of  2.8 per cent in 2012 the revenue stood at USD 288 billion. This year may witness slightly higher revenue but percentage wise rate growth would be subdued.

RIL Q1 RESULTS

Reliance Industries will be announcing its first quarter results on July 19, 2013.

RIL'S RESULTS 

As anticipated Reliance Industries has reported a 19% jump in its April-June quarter net profit at Rs. 5,352 crore, due to higher refining margins.

Net profit in the first quarter of previous year stood at Rs. 4,503 crore.  However revenue  for the quarter fell 4.6% to Rs. 90,589 crore. Lower output from KG-D6 gas fields contributed to the fall.

The stock closed at Rs 923, up Rs 6.

HDFC BANK Q1 RESULTS

HDFC  Bank has posted a net profit of Rs. 1843 crore quarter ended June 30, 2013 as compared to Rs. 1417 crore for the quarter ended June 30, 2012. Total Income has increased from Rs. 9825 crore for the quarter ended June 30, 2012 to Rs. 11588 crore for the quarter ended June 30, 2013. The stock is down 3% and trading around Rs 659. The stock has given a negative return in the last 30 days.

NEW ADVISER FOR TATA GROUP

Nirmalya Kumar who holds MBA from the University of Illinois at Chicago, and PhD in marketing from the Northwestern University and who has taught at the Harvard Business School, International Institute for Management Development and the Kellogg School of Management will be advising the TATA Group. He  will join Tata Sons as member-group executive council reporting to chairman Cyrus Mistry from 1 August.

RIL, ITC, TCS KEEPS THE INDICES IN GREEN

Index heavy weights RIL, TCS and ITC have kept the benchmark indices Sensex and NIFTY in green. RIL is up Rs 11, TCS is up by Rs 16  and ITC Rs 6.  Sensex is up around 80 points and the contribution has come from the above three. NIFTY is up 18 points as of now. The other NIFTY gainers are Dr Reddy's, Ambuja Cements, BHEL and Power Grid. Banking stocks continues to bleed. SBI, PNB, BOB, Kotak, Indusind, ICICI and Axis Bank shares have lost around one percent in the early trade. 

MMTC MAY END THE DAY IN GREEN

MMTC stock which was hitting lower circuits every day since its OFS price made public, may reverse the trend and end the day in green. Already more than a core shares have been traded in the exchanges and it is trading just Rs 1 below its yesterday's closing price. The current price look attractive sine OFS was made at Rs 60. 

ALIBABA SHORES UP YAHOO'S PROFIT

Internet giant Yahoo's profits were at  $331m, for the June quarter, up 46% from the same time last year. The rise was due mostly to the company's investment in Chinese eCommerce site Alibaba.

However Yahoo's display advertising revenue fell 13% in the quarter, while search revenue was down 9%.