 | Technical Analysis |
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| Nifty to move in a range of 6,020-6,250 Nifty started the week (8-12 November, 2010) on negative note backed by weak global cues. On daily chart Nifty exhibiting "falling wedge" which is bearish breakout pattern if lower trend line breaks. Price is near to lower trend and expecting it to move within wedge pattern till the time it does not break upper or lower trend line. In spite of Friday sharp fall Nifty managed to close just above lower support line of wedge pattern. If Nifty manages to trade above it then we could see upside in forthcoming session otherwise not ruling out the possibility of major correction. On upside Nifty resistance level is 6,200 while on downside it has mild support at 6,020. On upside if level of 6,200 breaks then we could see rise in it up to mark of 6,250, on the other side if level of 6,020 is breaches decisively then it could retrace up to 5,980. Volatility persists over the past few sessions as global cues playing a major role now. Volatility may be continue some more time and hence the investors are suggested to trade cautiously.Technical momentum indicators are currently suggesting correction in it. Stochastic is currently moving in oversold zone where RSI is trading in neutral territory at 45 showing negative crossover. Another indicator MACD is trading in positive zone, likely to show negative divergence, also indicating correction. However downside seems limited not beyond 6,020. Despite of correcting sharply in last two trading session Nifty is still trading above its 34 day EMA also indicating limited downside. 
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 | Technical Picks |
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SPARC (BUY)
| Particulars | Rs. | | CMP | 104.30 | | Target Price | 107/110/114 | | Stop Loss | 100 | | Support-Resistance | 90/120 |
Comment - RSI is at 59, trading in neutral territory, showing positive crossover indicating uptrend.
- MACD showing positive divergence.
- Stock is trading above 8 and 34 day EWMA, indicating upside.
- Expecting sharp upside if level of 111 breaches decisively.
SANWARIA (BUY)
| Particulars | Rs. | | CMP | 167 | | Target Price | 169/174/180 | | Stop Loss | 160 | | Support-Resistance | 150/180 |
Comment - RSI is trading just above overbought territory, currently at 91, on the brink of showing positive crossover indicating uptrend.
- Stochastic is at 92 (fast stochastic), on the verge of entering into overbought territory showing positive crossover indicating further upside.
- MACD is likely to show bullish crossover.
NATCO PHARMA (SELL)
| Particulars | Rs. | | CMP | 312.85 | | Target Price | 308/302/295 | | Stop Loss | 322 | | Support-Resistance | 290/325 |
Comment - RSI is at 60 showing negative crossover indicating correction.
- Stochastic is hovering in overbought showing negative crossover suggesting downside.
- MACD is likely to show bearish crossover.
HITACHI HOME (SELL) | Particulars | Rs. | | CMP | 240.90 | | Target Price | 237/232/225 | | Stop Loss | 248 | | Support-Resistance | 220/260 |
Comment. - RSI is in profit booking phase.
- Stochastic is moving in neutral territory likely to show negative crossover also indicating downside.
- Stock is trading below 08 day EWMA and showing correction.\
- MACD showing negative divergence.
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 | Indian Equity Market |
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The Week Gone By
Indian markets wrapped the week on a negative note led by huge selling pressure in Realty and Banking stocks as lower than expected second quarter result of SBI and DLF disappointed investor's sentiments. Further, slower-than-expected Industrial output for the month of September 2010 which rose at a much 4.4% from 8.2% a year ago also pushed the indices lower. Oil&Gas, Capital goods and PSU stocks also witnessed substantial profit booking later in the week.
Looking Forward During the week huge sell off was witnessed in Indian equity market which should be considered as a good buying opportunity. Foreign funds continue to aggressively mop up Indian shares. The appetite for Indian equities from foreign institutional investors is very high because of a good monsoon, improving fiscal situation and rising domestic consumption. Further, Fresh infusion of dollars into the US markets, by way of buying bonds, which will push up bond prices and bring down the yields, and the bond markets in India would react accordingly. Since economies like China and Singapore are at best cautious in their regulation of capital flows, India is likely to see a gush of capital flows, which is likely to push up the stock prices. Next week, buying is expected in Healthcare FMCG, banking and Auto stocks from current levels or from lower supports of 6,000 levels of Nifty.
Nifty Top Gainers
| Company | % Weekly Return | | R power | 10.99 | Ambuja cement | 4.45 | | Sun Pharma | 3.56 |
Nifty Top Loser
| Company | % Weekly Return | | SBI | (11.84) | IDFC | (11.58) | | Unitech | (9.65) |
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Daily Movement of Nifty
 Daily Movement of Sensex, Net FIIs & MF investment
Source for FII & MF: Sebi Weekly return on BSE Sectoral Indices
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| Top |
| | Fundamental Picks |
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Amara Raja Batteries Ltd. (Buy) | Particulars | Rs. | | CMP | 185.25 | | Target Price | 215 | | Upside (%) | 16 | | 52 Week H/L | 228.05/139.65 | | Market Cap | 1,582 |
JB chemical and Pharmaceuticals Ltd. (Buy)
| Particulars | Rs. | | CMP | 133.70 | | Target Price | 145.00 | | Upside (%) | 8.5 | | 52 Week H/L | 147.20/128.10 | | Market Cap | 1,128 |
Weekly Price Movement of GDR | Security Name | Price (USD)
as on 11-11-10 | % change
from 03-11-10 | | L&T | 48.20 | -1.01 | | RIL | 48.83 | 0.41 | | SBI | 141.80 | -3.39 |
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Amara Raja Batteries Ltd (ARBL), enjoys a healthy share of 27% in the organized battery market for industrial applications (mainly telecom and UPS). The Company is well poised to benefit from the continuing uptrend in automobile sales. Growth will be driven by increasing vehicle enetration in the rural areas and entrance of global car giants as India becomes a major auto manufacturing hub. Demand for inverters and UPS. has grown on back of power shortages across the country. Backed up by the robust growth in the automobile volumes and industrial segment, we expect revenues for ARBL to witness a CAGR of 12-15% over FY10-12E.
JB chemical and Pharmaceuticals has registered excellent set of numbers for the quarter ended September 2010 with net profit surging to Rs. 44.61 crore, a 42% increase over the corresponding previous period, driven by 36% increase in net sales to Rs. 233.14 crore. Going forward the company is aggressively planning to increase penetration in rural India and as a part of its strategy it plans to increase its marketing force from 450 to around 800 by the end of this fiscal and to 2000 by end of next financial year. Further, the company plans to launch 2-3 products in Russia. The company made significant investments during FY07 for expansion of capacities and with the investment phase over, company is set to reap the benefits of the same through penetration in the existing markets.
Weekly Price Movement of ADR
| Security Name | Price (USD)
as on 11-11-10 | % change
from 03-11-10 | | ICICI bank | 55.59 | 0.18 | | Infosys | 67.65 | -0.65 | | MTNL | 2.88 | -7.40 | | Rediff | 3.28 | -11.35 | | Sify | 1.90 | -7.32 |
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| Top |
 | Economy |
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| Indicators | Latest | Previous | Change | | Investment Deposit Ratio (%) | 29.33 (Oct 29) | 30.81 (Oct 22) |  | | Credit Deposit Ratio (%) | 71.11 (Oct 29) | 71.30 (Oct 22) | | | Money Supply (%) | 17.10 (Oct 29) | 15.20 (Oct 08) |  | | Bank Credit (%) | 22.00 (Oct 29) | 21.20 (Oct 22) | | | Aggregate Deposits (%) | 18.50 (Oct 29) | 17.30 (Oct 22) | | | Forex Reserves USD bn | 300.21(Nov 05) | 297.95 (Oct 29) | |
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 | Global Equity Markets |
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| US stocks edged lower during the week (till Thursday) as investors kept an eye on the G20 summit of world leaders in South Korea amid concerns that divisions regarding currency valuations could prevent the leaders from reaching a broad agreement on global economic cooperation. Further, markets retreated as investors feared that Fed's quantitative easing move will have little impact on economic recovery and may drive up inflation. Some selling pressure was also generated by the release of weaker than expected quarterly results from media giant Disney, Kraft Foods and Dynegy and disappointing outlook from Cisco System. On economic front, investors were presented with encouraging economic data, which was failed to support the market. Looking ahead to next week, trading may be impacted by the release of retail sales, consumer sentiments, business inventory, producers price index and housing starts. Additionally, Home depot and Wal-mart are due to release their quarterly results.
Asian stocks plunged during the week. Chinese markets plunged after China's central bank raised the yield on the one-year bills and on speculation that China will increase interest rates to curb higher-than-expected inflation that hammering down property and resource sector stocks. Hong Kong markets tumbled as HSBC reported lackluster third-quarter results and on concerns the People's Bank of China may deliver another interest rate hike soon after the release of China's inflation data for October. However, Japanese markets was able to registered gains after investors cheered the bounce in USD as it tempered gains in strong yen, offering some relief to Japanese exporters. The Bank of Japan offered to purchase a long-term government bonds under a fresh asset-purchase program.
European stocks fell during the week (till Thursday) as renewed concerns over euro-zone government debt that pushed the yield spreads of 'peripheral' bonds against the German benchmark sharply wider again and a strength in dollar put pressure on commodity prices. Moreover, banking stocks remained under pressure after German financial giant Commerzbank reported and French investment bank Natixis both reported third-quarter earnings below expectations. Further, leaders of the G20 group of nations are reportedly struggling to reach a common ground to reduce global currency and trade tensions, as talks enter a second day in Seoul. However,, better than expected economic data failed to boost market sentiments. Also, markets ignored better than expected earning from results from Vodafone Group Plc, BT Group, Barclays Plc, Siemens and Vedanta Resources. | Weekly return on major Global Indices
Data of US and European markets taken from Nov 04 to Nov 11, 2010
Data of Asian markets taken from Nov 05 to Nov 12, 2010
Weekly Change in the Composites of S&P 500 | Industry | Adj. Mkt. Cap
as on
11-11-10 | Adj. Mkt. Cap as on
05-11-10 | %
Change | | Energy | 12,85,965 | 12,54,511 | 2.51 | | Materials | 4,06,528 | 4,06,610 | (0.02) | | Industrials | 11,63,584 | 11,87,066 | (1.98) | | Cons Disc | 11,71,295 | 11,75,212 | (0.33) | | Cons Staples | 12,00,705 | 12,12,354 | (0.96) | | Health Care | 12,32,778 | 12,40,189 | (0.60) | | Financials | 17,26,130 | 17,65,239 | (2.22) | | Info Tech | 21,03,495 | 21,42,031 | (1.80) | | Telecom Services | 3,39,088 | 3,43,239 | (1.21) | | Utilities | 3,77,743 | 3,84,501 | (1.76) |
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| Top |
| | Key Events |
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| Global Key Events U.S. trade deficit for the month narrowed by much more than expected. The trade deficit narrowed to USD 44.0 billion in September from a revised USD 46.5 billion in August. Imports fell by 1% to USD 198.1 billion in September from USD 200.1 billion in August while exports edged up by 0.3% to USD 154.1 billion in September from USD 153.6 billion in the previous month, with the growth largely due to increases in exports of travel and other private services. The U.S. import price index rose in October, up 0.9% after edging down by a revised 0.1% in September, with higher fuel and non-fuel prices feeding the increase. The export price index rose for the third consecutive month in October up by 0.8%. Import prices rose 3.6% year-over-year for October, a slight increase over last month's 3.5% year-over-year increase. The number of people filing first-time unemployment claims dropped last week, coming in below what economists were expecting. US initial jobless claims came in at 4,35,000 for the week ended November 6. Which was down 24,000 from the revised reading of 4,59,000 last week. The German economy continued its recovery in the September quarter although growth slowed sharply from the prior quarter. GDP was up 0.7% between July and September, slowing from an upwardly revised record 2.3% growth in the June quarter. Japan's leading index fell to 98.9 in September from 99.5 in August. Moreover, the coincident index came in at 102, in line with expectations, but down from August's 103.3. On the other hand, the lagging index rose to 88.4 from 87.4 in the prior month. Chinese inflation accelerated to its highest level in more than two years in October, raising the prospects for more tightening moves from Beijing to restore normal economic conditions. Consumer price inflation accelerated to 4.4% in October from 3.6% in the prior month. The speed up in inflation was mainly due to a sharp rise in food prices, which went up 10.1% compared to October 2009. The price of non-food items went up by 1.6%. | Domestic Key Events Food inflation declined for the fourth week in a row to a one-year low, but the government remained concerned over the pace of the decline as large capital flows threaten to reinforce inflationary pressures. The index measuring wholesale prices of agricultural products such as vegetables and pulses rose 12.30% in the week ended October 30 as against 12.59% a year ago. It rose 12.85% in the previous week. India's index of industrial production (IIP) growth slowed further 4.4% to 325.6 for the month of September 2010 as compared to 8.2% in the month of September 2009. However, the cumulative growth stands at 10.2% for the half yearly period of this fiscal over the corresponding period of the previous year. - SBI reported a marginal rise in quarterly profit, but lagged estimates as lower treasury gains offset a pickup in credit demand in a fast-growing economy. State Bank posted a net profit of 25.01 billion rupees in July-September, its fiscal second quarter, versus a profit of 24.90 billion rupees a year earlier.
- State-run oil marketers have raised petrol prices by approximately 31-33 paise a litre, the fourth time since the government lifted control on pricing of the motor fuel on June 25. Hindustan Petroleum revised its pump price by 31 paise.
- Essar Africa Holdings Limited, privately held company of the Essar Group has confirmed that it has received official notification from the Government of Zimbabwe for its selection as the preferred bidder for revival of Zimbabwe Iron and Steel Company by way of purchase of GOZ's 60% equity interest and has been invited to finalize the terms and conditions to complete the transaction.
- Reliance Power has inked a USD 2.2-billion deal with US-based General Electric. GE will supply six 9FA gas turbines and three steam turbines, besides maintenance contracts, to Reliance Power's 2,500 MW Samalkot expansion project in Andhra Pradesh.
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| Top |
 | Derivatives |
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- Nifty ended the week on a downbeat note at 6,071.65 mark, losing 3.81%. The Nifty November future ended at 6,308.90 with premium of 11.35 points. If we look at the derivatives data we can see that Nifty future prices ended in the negative territory along with incline in open interest with rise in cost of carry, this is indicating that long position is being added at lower level with every decline. Immediate strong support for Nifty comes at 6,000 level and a round of short covering could be witnessed from this level.
- During the week, there was significant short accumulation was witnessed in OTM Call options. Most of the open interest accretion witnessed in the range of 6,200 to 6,500 Calls while on the flip side aggressive buying was seen in 6,100 put option.
- The Volatility Index (VIX) increased significantly and closed to 21.63%. Market participants should be watchful at current levels as any up move in volatility may trigger downsides in the markets. Volatility has a strong inverse correlation with markets.
- The put-call ratio of open interest inclined during the week, finally closing at 1.02 levels.
- The CNX IT index ended the week at 6,663.20 marks losing 2.60%. The CNX IT Futures prices declined along with decline in cost of carry, this is an indication of closure of long position and fresh short posion is being initiated. For the coming week, immediate support for the Index is seen in the range of 6,450-6,500 mark, whereas on the upside resistance is seen at 6,800- 6,850 levels.
- During the week the Bank Nifty Index ended on a negative note and plunged by 6.12% to 12,457.30. If we look at the derivatives desk we can see that the bank Nifty futures prices decreased along with decline in open interest but with incline in cost of carry, this is an indication of long position is being built up at lower level. For the coming week Bank Nifty support is seen in the range of 12,100-12,150 levels whereas on the upside stiff resistance would be faced at 12,700-12,750 levels.
- FII's were net seller in index futures to the tune of Rs 2,146 crore along with incline in OI by 4%, indicating downtrend in market. FII index options witnessed a further rise in OI along with a net buy of Rs 1,465 crore with higher PCR is also supporting the view.
- The Nifty is expected to remain in the range of 5,950-6,180 levels and only a breach below this range will push the index to lower levels. The index may find intermediate support around 6,000 levels, and a round of short covering from that level cannot be ruled out. Any instability on the global front will bring about heavy selling pressure from current levels. A breach of 6,000 levels will take the Nifty down towards 5,920-5,950 levels.
| Open Interest in Nifty Future vis-Ã -vis Nifty
Most Active Contracts
Put-Call Ratio
Volatility Index
FIIs Cumulative trailing 5 day's data | Particulars | Buy | Sell | Net | | Index Futures | 3,858.58 | 6,004.67 | (2,146.09) | | Index Options | 19,907.30 | 18,441.38 | 1,465.92 | | Stock Futures | 5,503.81 | 6,077.08 | (573.27) | | Stock Options | 2,606.54 | 2,658.12 | (51.58) | From November 04 to till November 11(Source: NSE) |
| Top |
 | Debt |
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- Call money rates firmed up during the week as liquidity in the system tightens after Power Grid came out with a public offer to sell Rs 80 billion worth of securities. Banks are borrowing more than Rs 1.1 trillion a day from RBI through repo window.
- After remaining net seller during the last four weeks, FIIs turned buyers in the domestic debt market. During the week, FIIs net bought securities worth Rs 4,085 crore compared to Rs 2,792 crore net sales in the previous week. Meanwhile, MFs too turned net buyers in the debt market this week, with Rs 4,183.4 crore (4 days) net buy compared to Rs 4,713 crore of net sales in the previous week.
- Bond yields rose during the week as liquidity in the system tightens and as investors eyed key economic data. The yields on benchmark bond rose above 8% mark as share sale by India's biggest power-transmission company Power Grid sucked cash from the banking system, aggravating the already liquidity problem in the system. Investors are also waiting the results of Rs 11,000 crore government bond auction for clues. Release of industrial production and monthly inflation numbers also kept investors away from market. Investors also trimmed position on concerns that 10 year paper may not remain liquid in future as its outstanding in the market is already high at Rs 520 billion which will further increase to Rs 560 billion after latest auction. Usually government refrains from issuing more than Rs 650 billion in a single paper to avoid bunching of payments. During the week, government released food inflation number that showed slight ease.
- Tight cash conditions in the market has aggravated further after Power Grid came out with a public offer to sell Rs 80 billion worth of securities. Banks are borrowing more than Rs 1.1 trillion a day from RBI through repo window. We expect call money rates to stay close to 7% mark next week. Bond prices are likely to remain flat as sharp decline in IIP numbers may offset the impact of tight liquidity. However, monthly inflation numbers due to be released on Monday will be closely eyed for cues.
- During the week, reverse repo transaction under RBI's Liquidity Adjustment Facility (LAF) remained at Rs 12,015 crore while Repo transaction stood at Rs 5,63,820 crore. On November 04, 2010, RBI Government of India auctioned 7.17% CG2015 worth Rs 4,000 crore, 8.13% CG2022 worth Rs 5,000 crore and 8.26% CG2027 worth Rs 2,000 crore. On November 08, 2010, Government of India announced auction of three dated securities for Rs. 11,000 crore to be held on November 12, 2010. On November 09, 2010, 5 state governments auctioned state development loans, 2020 worth Rs 3,650 crore. On November 10, 2010, RBI auctioned 91-day Treasury Bills worth Rs 4,000 crore and 182-day Treasury Bills worth Rs 2,000 crore. On November 11, 2010, 2 state governments auctioned state development loans, 2020 worth Rs 600 crore.
- In the financial year 2010-11, Government of India (GOI) has planned to borrow as much as Rs. 4,57,143 crore. Till November 05, 2010, the government has completed 79.29% of the gross borrowing target for the current year. The government has scheduled Rs 440 billion crore borrowing during next four auctions.
| Call Rates | Date | Rate (%) | | 4-Nov | 6.83 | 8-Nov | 7.14 | | 9-Nov | 7.35 | 10-Nov | 7.11 | | 11-Nov | 7.01 |
FIIs & MFs investment in Debt Market
Period | FIIs
Net Investment
(Rs. Crore) | MFs
Net Investment
(Rs. Crore) | | 4-Nov | 1,523.9 | 1,086.3 | | 8-Nov | 2,172.4 | 1,849.8 | | 9-Nov | 503.8 | 1,696.2 | | 10-Nov | 53.8 | (448.9) | | 11-Nov | (168.8) | - | | This week | 4,085.1 | 4,183.4 | | This Month | 4,321.1 | 5,597.2 | (Source: SEBI)
Bond Yield (7.80% CG 2020) | Date | LTP (Rs.) | YTM (%) | | 4-Nov | 98.88 | 7.9622 | | 8-Nov | 98.90 | 7.9786 | | 9-Nov | 98.45 | 8.0363 | | 10-Nov | 98.45 | 8.0363 | | 11-Nov | 98.11 | 8.0857 |
Spread
Liquidity Adjustment Facility | Date | Reverse Repo
(Rs. Crore) | Repo
(Rs. Crore) | | 4-Nov | 4,280 | 84,230 | | 8-Nov | 2,100 | 1,18,440 | | 9-Nov | 1,905 | 1,18,450 | | 10-Nov | 1,850 | 1,19,755 | | 11-Nov | 1,880 | 1,22,945 | | This week | 12,015 | 5,63,820 | | This Month | 31,490 | 7,55,045 |
GoI borrowing Program - 2010-11 Particulars | (Rs. Cr.) | | Budgeted Borrowings | 4,57,143 | Gross Borrowing Completed | 3,62,482 | | Dated Securities | 3,39,000 | 364 Day T-Bills | 23,482 | | % Completed | 79.29 | Net Borrowing till date | 2,52,228 | |
Government borrowing calendar (Next four auctions) | Period | Maturity 5-9 yrs | Maturity 10-14 yrs | Maturity 15-19 yrs | 20 yrs and above | Total | | Nov. 15-Nov. 19 | Rs 40-50 bn | Rs 40-50 bn | Rs 20-30 bn | - | Rs 110 bn | Nov. 29-Dec. 03 | Rs 30-40 bn | Rs 40-50 bn | - | Rs 20-30 bn | Rs 110 bn | | Dec. 06-Dec. 10 | Rs 40-50 bn | Rs 40-50 bn | Rs 20-30 bn | - | Rs 110 bn | Dec. 20-Dec. 24 | Rs 40-50 bn | Rs 40-50 bn | - | Rs 20-30 bn | Rs 110 bn |
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| Top |
 | Commodity |
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Crude oil prices started the week on a marginally higher note. The prices were up despite a strong dollar as commodities trended higher on momentum following last week's confirmation of a new round of quantitative easing. Immediately after, the prices began to dip lower on the back of strengthening dollar. The prices were lower despite EIA increasing its estimate for fuel consumption for next year. A major turn about was seen in the crude prices and they began to rise towards the end of the week as the US energy department reported a decline of 3.3 nm barrels in the crude inventory for the week ended 5 November. The prices managed to reach its highest level in two years on the back of positive economic data. Thereafter, the crude prices were almost flat as the strong dollar counteracted the effect of raise in crude oil consumption forecast by OPEC in 2010 and 2011. Finally, crude oil prices were 3.14% and 2.92% higher in the international and domestic market respectively on w-o-w basis. Crude oil prices may ease off in the coming week on the speculation that China will raise interest rates. This will curb growth in the world's biggest energy consumer and therefore dragging the prices lower. |
| Gold prices started the week on a very strong note and touched historic highs. The yellow metal continued with the momentum following the confirmation of further quantitative easing. Moreover, inflationary concerns coupled with euro zone sovereign debt woes lured investors to precious metals. However as the week proceeded, gold prices came off its highs on the back of upsurge in dollar. Finally, the precious metal again picked up towards the end of the week to end 3.94% higher in the international markets on w-o-w basis. The domestic gold prices also followed the trends in the international markets and therefore were on an upsurge. Domestically, the yellow metal ended 4.15% higher on w-o-w basis. The pick up was much higher back home on the account of major festivities and the ongoing wedding season. The gold prices are likely to continue with the advance in the coming week. The prices may peak up as the European debt concerns are likely to boost demand for bullion as a protection of wealth. |
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Weekly change in Crude prices per Barrel
| | 11-Nov | 03-Nov | Change (%) | | Intl Crude Oil Prices (USD) | 89.10 | 86.38 | 3.14 | | Domestic Price (Rs) | 3,950.71 | 3,838.57 | 2.92 |
Inventories(Weekly Change)
| Week ended | Change | Total Inventory | | 05-Nov-10 | (3.3) mn barrels | 364.9 mn barrels |
Weekly change in Gold prices in Rs/10gms
| | 11-Nov | 03-Nov | Change (%) | | London pm fix(USD/troyoz) | 1,398.50 | 1,345.50 | 3.94 | | Mumbai (Rs/10gms) | 20,461.80 | 19,645.00 | 4.15 |
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| Top |
 | Forex |
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| Rupee saw sharp decline against USD towards the end of the week due to weaker equity markets and bunched up demand for dollars a day after the Veteran's Day holiday in US. Further, concerns that divisions regarding currency valuations could prevent the leaders of G 20 nations from reaching a broad agreement on global economic cooperation also weighed on INR. However the local currency managed to edge higher against JYP and Euro. Rupee gained close to 3% against Euro as the common European currency fell sharply against major currencies. Euro fell during the week as concerns that Ireland will struggle to gain support for its budget and political uncertainty in Greece resulted in blow out in spreads between Euro area peripheral country government bonds against the German benchmark. | INR/ | 12-Nov | 04-Nov | %Change | | USD | 44.64 | 44.32 | (0.72) | | EURO | 60.73 | 62.59 | 2.97 | | YEN | 54.20 | 54.84 | 1.17 |
| INR vs. USD and Euro
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| Results Declared |
Companies | Total Income (Rs. Crore) | Net Profit (Rs. Crore) | Qtr ending Sep '10 | Y-o-Y %Change | Qtr ending Sep '10 | Y-o-Y %Change | | Aban Offshore | 328.79 | 0.66 | 81.35 | (6.86) | | Jindal Saw | 811.25 | (40.95) | 102.15 | (30.24) | | SBI | 23,813.30 | 11.79 | 2,501.37 | 0.46 | | Divis Lab | 262.81 | 14.45 | 72.96 | (15.59) | | Financial Tech | 145.65 | (58.27) | 84.65 | (61.21) | | Hindalco Inds | 5,942.04 | 19.45 | 433.81 | 26.09 | | Tata Motors | 11,581.59 | 37.88 | 432.7 | (40.66) | | Bharti Airtel | 9,319.80 | 4.40 | 2,100.30 | (8.56)
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