Maruti Suzuki sales up 4% in April

New Delhi: India's largest car-maker Maruti Suzuki India today reported a 4.40 per cent jump in April sales to 97,155 units.
Sales for the same month last year stood at 93,058 units, Maruti Suzuki India (MSI) said in a statement.
The national capital-based company recorded sales of 87,144 units in the domestic market last month, an 8.88 per cent increase from 80,034 units in April, 2010.
MSI's exports, however, declined by 23.13 per cent in April to 10,011 units from 13,024 units in the year-ago period, the company added.
Sales of the company's once bread-and-butter model M800, went up 11.96 per cent to 2,528 units during the reporting period from 2,258 units in April, 2010, the statement said.
Sales in the A2 segment (comprising Alto, WagonR, Estilo, Swift, A-Star and Ritz) witnessed 1.82 per cent growth to 57,443 units from 56,416 units in the same month a year ago.
A3 segment sales (comprising the SX4 and DZiRE...
MANALI
PGDM 2NDSEM

Rupee drops to 44.37 against dollar

Mumbai: The Indian rupee dropped by 15 paise to 44.37 against the US dollar in early trade on Monday on renewed demand for the American currency from banks and corporates on the back of dollar firmness overseas.
The dollar rebounded in the Sydney market from three-year lows and US crude oil slid more than 1 per cent in early trade on the back of news that a US-led operation killed Osama bin Laden in Pakistan.
Oil eased in Asian trade today ahead of the release of key US economic data, analysts said. New York's main contract, light sweet crude for June delivery, was down 68 cents to USD 113.25 from New York's close.
At the Interbank Foreign Exchange, the domestic currency opened lower at 44.28/29 per dollar as against last weekend's level of 44.22/23 and moved down further to 44.37 per dollar before quoting at 44.32/33 per dollar at 1030 hours.
MANALI
PGDM 2NDSEM

Sterlite Tech shares down 8 pct

Mumbai: Shares of Sterlite Technologies were down more than 8 per cent in early trades after the company said its January-March net profit fell 86 per cent.
At 9.16 a.m., shares of the company were down 7.17 per cent at Rs 57.

MANALI
PGDM 2NDSEM

Bajaj Hind shares up nearly 4 pct

Mumbai: Sugar major Bajaj Hindusthan rose by nearly 4 per cent in morning trade on the bourses on Monday, boosted by an over two-fold jump in net profit for the quarter ended March.
Cheering the growth, shares of the country's largest sugar firm went up by 3.87 per cent to touch an early high of Rs 77.80 on the Bombay Stock Exchange (BSE).
Similarly, the stock touched an early peak of Rs 77.85, a jump of 3.8 per cent, on the National Stock Exchange.
On the volume front, over 12 lakh shares of the company were traded on the two bourses in the morning session.
The company late last week reported an over two-fold jump in net profit to Rs 72.82 crore for the quarter ended March from Rs 31.79 crore in the year-ago period.
Manali
pgdm 2ndsem

Global stocks rise after news of Bin Laden death; oil slides

SYDNEY: The dollar rebounded from three-year lows and US crude slid more than 1 per cent on Monday on the back of news that a US-led operation killed Osama bin Laden in Pakistan .

US stock index futures added to gains, while US Treasury yields rose across the curve after US officials said the body of Al Queda's elusive leader has been recovered by US authorities.

"By lowering national security risks overall, this is likely to bolster equity markets and lower US Treasury prices in a reverse flight to quality movement," said Mohamed El-Erian, Chief Executive Officer and Co-Chief Investment Officer at PIMCO, which oversees $1.2 trillion assets.

"Oil markets are likely to be the most volatile given their higher sensitivity to the tug of war between lower risk overall and the possibility of isolated disturbances in some parts of the Middle East and central Asia," he said.

US crude fell 1.3 per cent to $112.39, while US stock index futures rose 0.9 per cent.

US Treasuries fell, pushing yields higher across the curve. The 10-year yield climbed 2.4 basis points to 3.314 per cent.

Earlier, a 10 per cent slide in silver highlighted worries that other overbought assets may be vulnerable to sudden sell-offs.

Financial markets in China, Hong Kong, Singapore, Malaysia and Thailand were all shut on Monday for public holidays, a factor seen contributing to thin trading conditions that could exaggerate price action.

Japan's Nikkei average rose 1.0 per cent, South Korea's KOSPI put on 0.9 per cent, but Australia's S&P/ASX 200 index slipped 0.5 per cent.

MSCI's gauge of Asian stocks excluding Japan struggled to make further gains, having reached a three-year peak last week. It was up 0.08 per cent at 506.62.

Silver skidded about 10 per cent to a low of $42.58, well off a record high of $49.51 set on Thursday. Gold fell to $1,546 from an all-time high of $1,575.79.

"If adjustment is confined to just silver, it won't be a big deal," said Koji Fukaya, chief strategist at Credit Suisse in Tokyo.

"But if this moves spills over to other commodities, that could certainly hurt commodity currencies, such as the Australian dollar and the Canadian dollar. And we could see a rebound in the US dollar."

DOLLAR DOLDRUMS

The US dollar fell to a fresh three-year low against a bakset of major currencies as investors sought higher-yielding assets with the US central bank in no hurry to tighten its ultra-loose monetary policy.

This has helped the high-flying Australian dollar extend gains to a fresh 29-year high above $1.1000. The euro held near a 16-month high around $1.4881 set last week.

With both the Federal Reserve and Bank of Japan maintaining ultra-loose monetary policies, investors have been seeking higher yielding assets in many fast-growing emerging markets in Asia.

This has prompted many Asian authorities to tighten policy as inflationary pressure grows. Data on Sunday showed China's policy actions to rein in prices appeared to be taking effect, with manufacturing growth slowing in April.

DEEPAK KUMAR JHA

PGDM 2ND (2010-12)

Finance news

Mumbai: Indian equities markets continued to languish in dull trade around Friday noon, with capital goods and consumer durables stocks leading the losers pack.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,292.57 points, was ruling at 19,306.53 points, up 14.51 points or 0.08 percent from its previous close at 19,292.02 points. The 50-scrip S and P CNX Nifty of the National Stock Exchange was also trading lacklustre at 5,790.95 points, up 0.1 percent.

Broader markets were ruling quiet as well with the BSE midcap index up 0.07 percent and the BSE small cap index down 0.34 percent.

The market breadth was negative with 1,167 stocks advancing, 1,340 on the decline and 88 remaining unchanged.

There was not much action on the Asian markets with some major bourses closed.

The Shanghai composite index of the Chinese stock exchanges was trading 0.32 percent up at 2,896.18 points.

The Hang Seng of the Hong Kong stock exchange slipped 0.41 percent and was ruling at 23,707.38 points.

The Japanese markets were closed on account of a holiday.




GAURAV  PGDM 2NDSEM.

SBI Life to invest Rs 9,600 cr in share market in FY'12

NEW DELHI: Country's leading life insurer SBI Life will invest up to Rs 9,600 crore in Indian equity market this fiscal, taking its capital market exposure to over Rs 34,000 crore, a senior company official said today.

"We will make incremental investment of about Rs 16,000 crore in securities in 2011-12, of which 60 per cent would go to the stock market," SBI Life Insurance managing director M N Rao told PTI.

The life insurer has an investment of about Rs 25,000 crore in equities.

"This incremental investment will take the total exposure in capital markets to over Rs 34,000 crore," he added.

The company, which managed assets worth Rs 40,163 crore at the end of March 31, expects over 40 per cent growth in its assets under management (AUM) during the current fiscal.

"We expect to take our AUM to about Rs 60,000 crore. For this, we will make investments in market instruments," Rao said.

SBI Life Insurance is a joint venture between State Bank of India and France-based BNP Paribas Assurance. SBI owns 74 per cent of the total capital in the JV and the rest is held by BNP Paribas Assurance.

For the financial year ended March 2011, the life insurer reported a 33 per cent growth in net profit at Rs 366 crore. Its total premium income grew by 28 per cent to Rs 12,912 crore during the period.

During the fiscal, the new business premium collection stood at Rs 7,572 crore, which is a rise of 7 per cent over the previous financial year.

The company is planning new products in the unit-linked as well in traditional segment for which it has applied to the insurance regulator IRDA.

On company's plans to raise funds from the capital market, Rao said SBI Life is a well capitalised company and does not need funds as of now.

"We will wait for clarity on Insurance Bill and IPO guidelines. The initial public offer (IPO) is unlikely to happen in the next 2-3 quarters," he said.

The paid up capital of SBI Life Insurance stands at Rs 1,000 crore.

The Bill, pending with a Parliamentary Standing Committee, has proposed to increase the foreign share holding limit in an Indian insurance firm to 49 per cent from the present 26 per cent. PTI JD NKD MVS RAH 05011008 NNNN


RBI policy meet, Q4 results to decided market mood this week

NEW DELHI: The stock market may undergo a phase of consolidation this week in light of the RBI's policy meet on Tuesday and the announcement of the quarterly results of various companies, including Hero Honda Motors and Bharti airtel.

According to experts, there is a lack of a catalyst to lift the equity market out of its current range. Investors must not get adventurous for the time being and wait for more clarity on the direction of the main indices, they said.

"Overall, the sideways consolidation pattern could persist in May also, as quite a few key companies are yet to announce their results," IIFL Head of Research (India Private Clients) Amar Ambani said.

The Bombay Stock Exchange's 30-share Sensex index fell by 466.27 points to settle at 19,135.96 in the week gone by on FII selling, mixed corporate earnings, high inflation, hardening interest rates and concerns over the 2G scam.

"The RBI credit policy and quarterly results are the major factors to determine the market trend this week. Most of the global markets are at two-year highs after the US Fed kept interest rates unchanged at 0.25 per cent and announced a USD 600 billion treasury buy-back," Motilal Oswal Securities Associate VP Senior Analyst Technical Equities Parag Doctor said.

He said, however, that continued FII selling, fear of a hike in interest rates by the RBI and concerns over the 2G scam have created a negative sentiment in the market.

Analysts also said that investors must remain cautious as there are no major short-term triggers for the market to rise materially.

Market players also said that on May 3, the RBI is expected to raise key short-term rates again, as inflation still remains high. If the rate increase is 50 basis points, the market may look a little negative, they feared.

Bank of India will announce its Q4 results on May 2. Hero Honda Motors Q4 results will come up on May 4, followed by Bharti Airtel, Kotak Mahindra Bank and Cipla, whose results will be announced on May 5.
NAME-DEEPAK KUMAR JHA
PGDM 2nd sem (2010-12)