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Morning News letter - April 29_ 2013 -



SWASTIKA INTELLIGENCE GROUP                                                                    29th April 2013

                                                                 INDIAN MARKETS As On, Friday, 26th April, 2013
 The market may open slightly higher as most Asian        Particulars         BSE SENSEX               Nifty-50
 stocks edged higher Trading of CNX Nifty futures on
                                                          Current Value        19286.72                5871.45
 the Singapore stock exchange indicates that the Nifty    Points                -120.13                 -44.85
 could gain 11 points at the opening bell.                % Change               -0.62                   -0.76
                                                          High                 19384.95                5907.05
 Hero MotoCorp's (HMCL) net profit fell 4.86% to Rs       Low                  19249.75                5860.50
 574.23 crore on 1.79% rise in total income to Rs         Previous Close       19406.85                5916.30
 6250.26 crore in Q4 March 2013 over Q4 March 2012.
 The company announced its Q4 results after market
 hours on Friday, 26 April 2013.
                                                                               WORLD INDICES
 Regarding the suspension of mining in Goa, the date          US & European Markets As On, Friday, 26th April 2013
 for initial hearing is yet to be fixed by Honourable      Asian Markets As On, Monday, 29th April, 2013 at 9:00 A.M
 Supreme Court of India In the meantime, the State        Index                   Last*              Net Change
 Government and major miners including Sesa Goa,          SGX Nifty             5895.00                 +13.50
 have filed their responses to the Central Empowered      Nikkei 225            13884.13                 Close
 Committee report. Separately, the company has filed      Shanghai              2177.91                  Clsoe
 an application to the Supreme Court seeking a stay on    Hang Seng             22545.62                 -2.09
 the suspension of mining and restrictions on ore         Dow Jones             14712.55                +11.75
 transportation.                                          Nasdaq                3279.26                 -10.73
                                                          FTSE 100              6426.42                 -16.17
 Regarding Sesa Goa's merger with Sterlite Industries,    CAC 40                3810.05                 -30.42
 the company said that the proposed Vedanta Group         DAX 30                7814.76                 -18.10
 consolidation and simplification has received the
 approval of the High Court of Bombay at Goa on 3 April
 2013. The hearings at the High Court of Madras have           FII Activity in Derivatives Segment (` in Crore)
 been completed and the order is awaited. Following          SEGMENT            Buy          Sell     Open Interest
 the receipt of court approvals, a record date will be    INDEX FUTURES 1559.07            1268.87        9779.00
 announced to complete the transaction.                   INDEX OPTIONS 6652.78            6636.44       40553.73
                                                          STOCK FUTURES 1584.83            2064.24       22544.11
 Foreign institutional investors (FIIs) bought shares
                                                          STOCK OPTIONS 1390.88            1437.05        1065.15
 worth a net Rs 224.75 crore on 26 April 2013.

                                                          Commodities               Units        Price      Change
                                                          Crude Oil (Brent)         $/bbl       102.70       -0.46
         NSE                    BSE                       Comex Gold                $/oz.       1468.80     +15.20
       11569.96                       2264.76             Comex Silver              $/oz.        24.20       +0.41

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                                                          Indian ADRs Update
                     Company                          Price ($)                  Change                  Change (%)
                    Dr Reddy's Labs                     36.29                    -0.14                      0.38
                    HDFC Bank                           42.14                    -0.22                      0.52
                    Tata Motors                         27.00                    -0.15                      0.55
                    Tata Comm                           8.18                     -0.07                      0.85
                    Wipro                               7.65                     -0.07                      0.91
                    ICICI Bank                          45.39                    -0.63                      1.37
                    Infosys                             40.10                    -0.76                      1.86
                    Sterlite Inds.                      6.54                     -0.16                      2.39
                    MTNL                                0.69                     -0.03                      4.43
                                 (Indian ADRs: Indian companies listed on the New York Stock Exchange)

                                                       STOCKS IN NEWS

Results Today: HUL, Sterlite Industries, Bank of Maharashtra, Exide, Hexaware, IL&FS Engineering, ING Vysya Bank,
IOB, Shree Cements, Tata Metaliks, Alstom T&D, Aditya Birla Money, Astra Micro, Bosch, Carborundum Universal,
Elantas Beck, HFCL, Kirloskar Industries, Kirloskar Ferro, KPIT Cummins, LKP Finance, NEPC Agro

Scotts Garments
-IPO closes today, subscribed 0.4 times
-Price band Rs 130-132/share
-Bids received 43,500 shares (issue size of 1.05 crore shares)

-Lists Food Bill for discussion in parliament on May 3
-Lists Land Bill for discussion in parliament on May 8

Supreme Court: Cogencis
-Notice to Reliance Communications arm on plea to tax Rs 5,700 crore income
-Notice to Reliance Communications arm for tax on Rs 5,700 crore 2004-05 income

Political theater
-Sharad Pawar says UPA govt can fall any time
-NCP to fight 22 Lok Sabha seats in Maharashtra
-Nitish Kumar ask party to be ready for uncertainty

Suzlon Energy
-Arm REpower announces plans to streamline organisation
-Repower says cost reduction of Euro 100 million to be realised by FY13/14

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Jet Airways EGM on May 24 for Etihad deal nod
-EGM to consider new articles of association for Jet

GAIL says aim Rs 50,000 crore turnover in FY14
-Plan to bring over 30 LNG cargoes in FY14: GAIL
-Plan capex of around Rs 40,000 crore in next 3-4 years: GAIL

Maruti gets nod to start plant construction in Gujarat

SREI Infra , Magma Fincorp considered as White Nights to save Saradha groups media company: (Both have denied
being approached by West Bengal govt)

GMR plans to sell 20 percent stake in Highway arm via IPO, eyes valuations of Rs 2500 crore

PNB lead consortium mulls winding up petition against ECGC, the company that had insured substantial part of bank’s
loan Zoom Developers

Govt to relax ECB norms for low cost housing, infra

SBI may stop performance guarantee to road projects

Maharashtra Seamless buy back at maximum Rs 300/share

Future Ventures to acquire 33.3 percent stake in KFC Shoemaker

Karnataka HC asks UB Holdings to provide HC with details on unencumbered immovable UBHL properties and
pledged/hypothecated shares

Govt says IOC initiates action to resume work at Lakshadweep depot

Gujarat HC issues notice to Gujarat Govt & Tata Motors ; asks them to file response by June 2013

Seshasayee Paper acquires Chennai-based Esvi International


Hero MotoCorp Q4:
-Net profit at Rs 574.3 Crore Vs Rs 603.6 Crore (YoY)
-Revenue at Rs 6,145.7 Crore Vs Rs 6,035 Crore (YoY)
-EBITDA at Rs 850 Crore Vs Rs Rs 925.3 Crore (YoY)
-OPM at 13.8 percent Vs 15.3 percent (YoY)
-Hikes prices acroreoss models by Rs 500-1500/Unit

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Sesa Goa Q4FY13 vs Q4FY12 (y-o-y):
-Net sales down 90 percent at Rs 284.8 Crore vs Rs 2791.4 Crore
-EBITDA at (- Rs 83.7 crore) vs Rs 994 Crore
-EBITDA at -29.4 percent vs 35.6 percent
-PAT down 74 percent at Rs 297.5 Crore vs Rs 1162.1 Crore

Federal Bank Q4
-Net profit at Rs 221.9 Crore Vs Rs 237.6 Crore (YoY)
-NII at Rs 479.8 Crore Vs Rs 491.2 Crore (YoY)
-Provisions at Rs 98.2 Crore Vs Rs 74.4 Crore (QoQ)
-Gross NPAs at 3.44 percent Vs 3.85 percent (QoQ)
-Net NPAs at 0.98 percent Vs 0.92 percent (QoQ)
-Capital adequacy ratio at 14.73 percent Vs 14.92 percent (QoQ)
-Gross NPAs at Rs 1,554 Crore Vs Rs 1,564 Crore (QoQ)
-Net NPAs at Rs 431.9 Crore Vs Rs 362 Crore (QoQ)

Polaris Q4
-Consolidated net profit at 39.3 Crore Vs Rs 40.2 Crore (QoQ)
-Consolidated net income at Rs 542.8 Crore Vs Rs 560.6 Crore (QoQ)

Jaypee Infra Q4
-Net profit at Rs 148.5 Crore Vs Rs 349.3 Crore (YoY)
-Net total income at Rs 958.2 Crore Vs Rs 920.5 Crore (YoY)

Rolta India Q3
-Consolidated net profit at Rs 73.1 Crore Vs Rs 70.4 Crore (QoQ)
-Consolidated total income at Rs 570 Crore Vs Rs 526.5 Crore (QoQ)

Merck Q1
-Net profit at Rs 14 Crore Vs Rs 12.4 Crore (YoY)
-Net sales at Rs 176.6 Crore Vs Rs 136.7 Crore (YoY)

Cholamandalam Finance Q4:
-Consolidated net profit at Rs 87.4 Crore Vs Rs 60.8 Crore (YoY)
-Consolidated income from operations at Rs 715.4 Crore Vs Rs 511.3 Crore (YoY)

Raymond Q4
-Consolidated profit of Rs 61 lakh Vs Rs 3.17 Crore (YoY)
-Consolidated net sales at Rs 1,069 Crore Vs Rs 949 Crore (YoY)

Kirloskar Oil Engines Q4 (YoY)
-Income up 1.6 percent from Rs 588.8 Crore to Rs 598.7 Crore
-Profit up 4.6 percent from Rs 56.6 Crore to Rs 59.2 Crore

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Motilal Oswal Q4
-Consolidated net profit at Rs 36.7 Crore Vs Rs 29.2 Crore (QoQ)
-Consolidated total income at Rs 131.8 Crore Vs Rs 113 Crore (QoQ)
-Company okays buyback offer of up to 75 lakh shares

-Net profit at Rs 166 Crore Vs Rs 153 Crore (YoY)
-NII at Rs 570 Crore Vs Rs 513 Crore (YoY)
-Gross NPA at 2.56 percent Vs 3.04 percent (QoQ)
-Net NPA at 1.46 percent Vs 1.83 percent (QoQ)

 Report Prepared by                                      Designation                                                  E-mail ID
 Ronak Choubey                                        Fundamental Analyst                  

 RESEARCH TEAM                              SWASTIKA INTELLIGENCE GROUP                    
 Pinky Wadhwani                            Head Technical & Derivative Analyst             
 Santosh Sahu                                      Sr.Research Analyst                     
 Sandeep Porwal                                     Technical Analyst                      
 Amit Khare                                      Jr. Commodity Analyst                     
 Vishnu shreekar                                 Jr. Research Associate                    

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