MARKETS
Asian market is trading with gains between 0.50%-1.50% except Chinese markets which remains flat. SGX Nifty is up 18 points at 5330. Markets were up as Italian Prime Minister Silvio Berlusconi’s offer to resign bolstered optimism Europe may find a way to contain its debt crisis, and China’s inflation rate eased. Nifty is likely to trade strong led by Banking shares. Nifty may trade between a range of 5300-5370 points. SBI results would be in focus today. BUY IDFC.
EQUITY MOVERS
* IDBI Bank Ltd. an Indian state-owned lender, will host meetings this week to update bond investors in Asia on recent corporate developments, according to a person directly involved in the matter.
* Kingfisher Airlines Ltd. India’s second-largest airline, cut the frequency of some flights on low demand and because aircraft needed to be reconfigured after the carrier exited the low-cost business.
* Pidilite Industries Ltd. India’s biggest adhesive producer, reported second-quarter profit fell to 771.8 million rupees, which missed analysts’ estimates.
* Reliance Infrastructure Ltd. backed by Billionaire Anil Ambani, has 250 billion rupees worth of orders in the pipeline, Chief Executive Officer Lalit Jalan said on a conference call after reporting second-quarter profit rose to 4.96 billion rupees from 1.7 billion rupees a year ago.
ECONOMY
* 10:30 a.m. SIAM to release automobile sales figures for October.
EARNINGS
* State Bank of India Est. 25.2 billion rupees (34 analysts)
* Indian Oil Corp. Est. (5.88) billion rupees (20 analysts)
* Ranbaxy Laboratories Est. 1.46 billion rupees(26 analysts)
* Power Finance Corp. Est. 4.95 billion rupees (13 analysts)
* Bharat Forge Est. 1.05 billion rupees (10 analysts)
* Apollo Tyres Est. 782 million rupees (13 analysts)
* Neyveli Lignite Corp. Est. 2.80 billion rupees (5 analysts)
* JSW Energy Est. 806 million rupees (13 analysts)
* Lupin Est. 2.35 billion rupees (31 analysts)
* Voltas Est. 556 million rupees (12 analysts)
* PTC India Est. 454 million rupees (10 analysts)
* Oil India Est. 11.7 billion rupees (21 analysts)
* Eicher Motors Est. 722 million rupees (8 analysts)
* Glenmark Pharmaceuticals Est. 2.04 billion rupees (23 analysts)
* CESC Est. 1.22 billion rupees (15 analysts)
* Everest Kanto Cylindere Est. 270 million rupees (4 analysts)
* Shriram Transport Finance Co. Est. 3.5 billion rupees (13 analysts)
* GMR Infrastructure Est. (576) million rupees (12 analysts)
* Godawari Power and Ispat Est. 144 million rupees (4 analysts)
* Ansal Properties & Infrastructure Est. 219 million rupees (3 analysts)
* IL&FS Transportation Networks Est. 1.02 billion rupees (9 analysts)
* Bhushan Steel Est. 1.81 billion rupees (5 analysts)
* Jyothy Laboratories Est. 145 million rupees (11 analysts)
* Procter & Gamble Hygiene and Health Care, Bombay Dyeing & Manufacturing Co., Hindustan Oil Exploration Co., Tata communications, Moser-Baer (I), Orissa Minerals Development Co.,Jai Corp, Balmer Lawrie & Co., Four Soft, Assam Company India.
OTHER NEWS
* Woori Asset Management Co., a unit of Korea’s largest financial group by assets, plans a rupee-denominated fund by December. Daiwa Asset Management Co., a unit of Japan’s second- biggest brokerage, will set up a fund on Nov. 16, while Thailand’s Kasikorn Asset Management Co. offers three India-
dedicated funds.
* India’s trade deficit widened the most in October in at least 17 1/2 years, pressuring the rupee, Asia’s worst performer this year, to extend declines.
* Pfizer Inc. and Ranbaxy Laboratories Ltd. were sued by 11 California pharmacies over claims they agreed to hold back a generic version of the cholesterol-lowering drug Lipitor in the U.S. and then fixed its price.
* Prime Minister Silvio Berlusconi offered to resign as soon as Parliament approves austerity measures pledged to European partners, after defections from his ruling party left him without a majority and bond yields surged to euro-era records.
SHAREHOLDER MEETINGS
* Lupin Ltd.
* Power Finance Corp Ltd.
* Voltas Ltd.
* GMR Infrastructure Ltd.
* Bharat Forge Ltd.
* CESC Ltd.
EARNINGS CALLS
* Glenmark Pharmaceuticals Ltd.
* Lupin Ltd.
* Infrastructure Development Finance Co Ltd.
* Ranbaxy Laboratories Ltd.
CONFERENCES/EVENTS
* 9 a.m. Mumbai. Capital markets conference “Germany and India 2011-2012” organized by Deutsche Borse Group and Indo-German Chamber of Commerce.
* 10 a.m. New Delhi. Conference on “Economics, Ecology and Values - Where India and the World Meet?” S. Ramadorai, adviser to the prime minister and vice-chairman of Tata Consultancy Services, and Kapil Sibal, telecommunications minister, to attend the function.
* 10 a.m. New Delhi. INFRANET 2011 Conference. Speakers include: R.S. Ramasubramaniam, vice chairman and co-founder, Feedback Infrastructure Services Pvt., Vijay Thadani, CEO, NIIT Ltd., C.P. Joshi, minister for road transport, Shailesh Pathak, president, SREI Infrastructure Finance Ltd., Sunil
Shinde, CEO, WELSPUN Projects Ltd.
* 11:30 a.m. New Delhi. Sriprakash Jaiswal, coal minister, will meet Martin Ferguson, Australian minister for resources and energy to discuss advancement of the strategic action plan signed between coal ministry and Australian department of resources.
* 12 p.m. New Delhi. CaixaBank to open of its first representative office in New Delhi (India). Ignacio Álvarez- Rendueles, member of the Management Committee of CaixaBank in charge of International Division, to attend the function.
* 3 p.m. Mumbai. Press conference by Harsh Mariwala, chairman Marico Ltd., and Naina Lal Kidwai, CEO, HSBC Securities India Holdings, on economic reforms.
* 8 p.m. New Delhi. Panel discussion on education, innovation and urban transformation. Speakers include: Subir Gokarn, deputy governor, Reserve Bank of India, Sam Pitroda, adviser to Prime Minister on Public Information Infrastructure and Innovation.
Source: Bloomberg
Regards,
Team Microsec Research
Microsec Capital Limited
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