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Pharma Special: F&O

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How People Ignored Blue Chips Stocks In 2000 & They Become The Best Company's In Current 2010 Year
Change in share prices over the past 10 years

Company	30-Oct-00	29-Oct-10	Change
Bharat Heavy Electricals Ltd.	53.45	2,445.70	4,476%
Axis Bank Ltd.	38.25	1,466.65	3,734%
Tata Power Co. Ltd.	68.35	1,394.60	1,940%
Sun Pharmaceutical Inds. Ltd.	132.93	2,107.30	1,485%
HDFC Bank Ltd.	247.10	2,278.10	822%

F&O Intraday

BUY YES BANK FUT@317 CMP, TARGET 330, SL 312.

INTRADAY JACKPOT CALLS.

BUY MUNJALSHOW ABOVE 55, TGT 64, SL 52. (16%)

BUY SESAGOA ABOVE 330, TGT 345, SL 324. (5%).

PRADIP ABOVE 83, TGT 95, SL 80. (15%)

RANBAXY ABOVE 600 TGT, 630, SL 588. (5%)

PRAKASH ABOVE 125, TGT 140, SL 120. (12%).

Japan's DoCoMo aims to take on iPad with new tablet:

Japan's top carrier NTT DoCoMo is to launch a tablet computer running Google software to challenge Apple's hot-selling iPad , DoCoMo will marry the new Google-backed Android operating system with a device made by South Korea's LG Electronics to launch the product in Japan by the end of March, Users will be able to get on the Internet via DoCoMo's cellular connections, it said, adding pricing and other details were yet to be decided. Google is expected to release a tablet-friendly operating .

Sajjan Jindal’s loss could be Kumar Mangalam Birla’s gain

Tuhin Mukherjee , the man widely credited for JSW Steel’s recent mine acquisitions overseas , has quit the company to join the Birlas’ unlisted mining arm,EsselMining.Mukherjee will replace Ravi Kastia, who has spear headed Essel Mining for the past five years . JSW Steel. confirmed Mr Mukherjee's exit and said he was moving for what it described as ‘better prospects’ . Confirming Mr Mukherjee's appointment , an Aditya Birla group spkeswoman said that current Essel Mining managing director Ravi Kastia, will look after other businesses such as trading, thermal and wind power projects and ports. Mr Kastia will also oversee a fero-chem — which is a raw material used in the chemical industry — factory at Vapi and the textile unit at the Phillippines. Mr Mukherjee led the Jindal group's efforts to match its growing steelmaking and power generating capacities with captive resources and the Mumbai-based group's recent acquisition of mines in the US, Canada, South Africa and Mozambique could be attributed to his team. In April 2010, JSW acquired a majority stake in South African Coal Mining Holdings for about Rs 51.16 crore and followed that a month later, by buying coking coal assets in West Virginia for about Rs 450 crore. In October, the JSW group bought a controlling stake in Canada's CIC Energy, a coal miner, for about Rs 1,886 crore to feed its power generating arm, JSW Energy. "Mukherjee brought aggression to most of JSW's forays. He was known for thorough due diligence," said a senior executive from a rival metals company who had competed with the JSW group in some of the recent acquisitions. In the negotiations to acquire the South African coal company, the JSW group raised its price and offered to build mining infrastructure, which eventually clinched the deal. JSW's resources team has also completed the acquisition of Chile's iron ore project — the Santa Fe Mining project — where JSW invested about $400 million. The project had been put on the backburnerduringtheeconomiccrisisof 2008and was restarted early this year. The Chile project will make 6 million tonnes of ore annually. Apart from Essel Mining, Mukherjee will also head the group's mineral resources development unit which looks at backward integration of various manufacturing operations within the conglomerate.

Tata Motors sales rise 31% in December

Automaker TATA MOTORS today reported 30.63 per cent increase in its December sales last year at 67,441 units sold as compared to 51,627 units sold in the same month in 2009. The homegrown firm's total passenger vehicles sales in the domestic market in December 2010 stood at 19,706 units, which is a jump of 34.48 per cent from the same month previous year, the company said in a statement. The company's latest offering Nano's sales during the month stood at 5,784 units, up by 60 per cent. 'Indica' reported sales of 5,923 units, which is 40 per cent up from the units sold in December 2009, Tata Motors said. 'Indigo' family recorded sales of 5,234 units, a rise of 3 per cent over the same month in the previous year. Sales of 'Sumo' and 'Safari' increased by 62 per cent to 2,765 units. In the domestic commercial vehicles segment, the company sales increased by 25.08 per cent, as it sold 41,926 units last month compared with 33,519 units sold in December during 2009. Light commercial vehicles' sales during the month were at 24,558 units, a growth of 35 per cent over the previous year, while medium and heavy commercial vehicle sales stood at 17,368 units, a growth of 14 per cent compared with the year-ago period. The company exports grew by 69.18 per cent to 5,809 units sold last month compared to 3,454 units sold in December 2009.

BlackBerry says India can't access encrypted data

Denying reports that it has agreed to allow access to its encrypted corporate data to Indian authorities, BlackBerry maker Research In Motion (RIM) on Thursday said unscrambling encrypted email on its devices is simply not "technologically feasible." India has been seeking access to all encrypted communications as the terrorists involved the 2008 Mumbai attack communicated with their handlers by using sophisticated technology. It wants the Canadian company to install a server in India to monitor this service.

However, RIM, which has got two reprieves since August and assured a solution by Jan 31, is not willing to compromise on the privacy of this encrypted service which has made its smart phones a darling of businesses.

Reacting to the report from New Delhi that it has agreed to installation of a 'network data analysis system' in India to let security agencies check secure BlackBerry data, RIM said it is 'inaccurate and misleading.'

The report conveys the impression as if it is "somehow enabling access to data" transmitted through its business server system, RIM told the Canadian Press.

"This is both false and technologically infeasible," it said.

This so-called "network data analysis system" is just a tool required to allow carriers in India to provide lawful access to its consumer services, including its instant messaging service, RIM was quoted as saying.

"This is not new information as RIM has repeatedly confirmed that it is co-operating with the government of India and enabling carriers to lawfully access consumer services to the same degree imposed on RIM's competitors in India."

The Canadian wireless giant has said in the past that it doesn't have a 'master key' to get a third party access to encrypted corporate data under any circumstances.

According to RIM, India's demand for installing servers in the country is meaningless as all data remain encrypted at all times through all points of transfer between the BlackBerry enterprise server and client smart phones.

The company said it was working with Indian authorities for allowing them access to its consumer services, including the highly popular BlackBerry messenger service.

Tata Autocomp files for IPO to raise up to $167.4 mn

MUMBAI: Indian auto parts maker Tata Autocomp Systems Ltd has filed for an initial public offering of shares including a fresh issue to raise up to 7.5 billion rupees ($167.4 million), it said on Friday. Shareholders including Tata Motors , Tata Sons, Tata Industries and Tata Capital Ltd will together sell up to 35.63 million shares in the company, according to its draft red herring prospectus. The firm, part of the diversified Tata conglomerate, has appointed JM Financial Consultants Pvt Ltd, Tata Capital Markets Ltd and JP Morgan India Pvt Ltd as managers to the sale. The issue will constitute at least 25 percent of the fully diluted post issue paid up capital of the company.

Gold higher on weak dollar.

Gold firmed on the last trading day of the year, gearing toward its strongest annual gain in three years, supported by a languishing dollar and a firm outlook for precious metals into 2011.

The precious metals complex has had a stellar run this year, led by palladium's 95 percent rise, in a broad commodities rally which has pushed up the 19-commodity CRB index up 15 percent.

The dollar fell 0.4 percent against a basket of currencies .DXY. It is about 12 percent lower against the yen and more than 9 percent down versus the Swiss franc this year.

"It is still a positive picture for metals next year. There is sufficient demand from investment perspective to maintain a relatively bullish trend, in gold in particular,"

In a sign that breathes caution into the euphoria, the holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell to 1,280.722 tonnes by Dec 30, its lowest since early June.

"The story is still relatively bullish on metals, but they ain't cheap. Gold's not cheap."

Oil to end the year up 12 percent, averages near $80

'Oil was set to close the year up more than 12 percent and average nearly $80 a barrel -- the second highest on record -- driven by a resurgence in global demand, an unusually cold winter and falling inventories'

After rallying to a 26-month high of $91.88 on Monday, U.S. crude edged lower on Friday, with the February contract down 14 cents at $89.70 a barrel by 1:42 a.m. EST. ICE Brent crude fell 10 cents to $92.99.

Oil prices were set to average $79.60 this year, second only to 2008's record average of $99.75.

U.S. crude stocks fell for the fourth straight week last week, but the drawdown was less than expected and put pressure on prices.

Crude stocks in the world's largest economy fell 1.26 million barrels to 339.43 million barrels in the week to December 24, the Energy Information Agency (EIA) said.

Gasoline supplies fell by 2.32 million barrels, almost a million barrels more than expected. Some of that may have been due to companies running down stocks ahead of the year-end, but some analysts saw the fall as indicative of rising consumption as the world's largest economy continues to recover from recession.

"The latest U.S. weekly data release show a continuation of the recent strength in oil demand," said analysts at Barclays Capital in a research note.

"December is set to be the strongest month of the year in demand terms, with particularly strong indications of gasoline demand."

OPEC SUPPLIES

Even with crude stocks slipping four straight weeks and prices peaking to a 26-month high of $91.88 a barrel earlier this week, OPEC output has risen only slightly in December as Nigerian supply increased.

Supply from the 11 OPEC (The Organization of the Petroleum Exporting Countries) members with output targets has averaged 26.75 million barrels per day (bpd) this month, up from 26.70 million bpd in November, the survey of oil companies, OPEC officials showed.

Core OPEC ministers have indicated they would not provide more oil supplies to arrest oil's rally, saying $100 crude was a fair price.

Oil found support from a weaker dollar and positive U.S. economic data.

The dollar languished against the Swiss franc, hitting an all-time low, and fell to a seven-week trough against the yen. The dollar index .DXY was down 0.14 percent at 79.408.

The greenback declined despite supportive jobless claims and factory data that bolstered views the U.S. economy had gained momentum at year-end and was set for a stronger performance in 2011.

The positive data could cause the U.S. Federal Reserve to curb its recent initiatives to spur economic recovery, which could strengthen the dollar and limit price boosts for dollar-denominated commodities.

How will India & Iran settle payments issue?

India's central bank has said payments for trade with Iran should be settled outside the Asian Clearing Union (ACU), prompting fears in India that oil imports from the OPEC member could dry up without an alternative. Central bank officials of both countries were due to meet on Friday in Mumbai to discuss an alternative settlement mechanism to the long-standing ACU, through which central banks of eight South Asian countries plus Iran settle payments for bilateral trade. Indian officials have said that they expect a quick solution. Why did India halt settlement with Iran through the ACU? Iran already faces sanctions from the United Nations over its nuclear programme, and though the sanctions do not ban purchases of crude, Washington has been lobbying governments and companies to stop dealings with Tehran. Indian officials do not concede that US pressure was a reason for the RBI's move. Oil Secretary S Sundareshan said the ACU "is under some stress and RBI wants to make changes," and the RBI says it is an international issue. Indian oil industry sources say European banks sought details of individual transactions in order to clear ACU payments in euros and that was not possible as under the ACU mechanism, trade was totalled up and settled on a net basis every two months. However, the decision came close on the heels of the visit to India by US President Barack Obama, who endorsed India's bid for a permanent seat on the UN Security Council . Why is this a problem for Indian oil importers? Crude importers in India interpret the RBI directive to mean they must directly settle payments with Iran without routing the payment through the Reserve Bank of India. However, Iran's National Iranian Oil Co has refused to sell crude if settlement has to be done outside the ACU mechanism. The Iranian central bank has also refused to directly deal with Indian commercial banks, prompting an impasse this week. What is at stake and who is affected? India imports a hefty 400,000 barrels a day of crude, worth about $12 billion a year, from Iran, making it India's seventh largest trading partner, accounting for 3 percent of India's total trade volume. If an alternative mechanism is not found, those imports risk being disrupted and India's oil import bill could be inflated. Such a scenario might also enable India's rival China to step in and buy Iranian crude that is now shipped to India. Short term supplies will not be affected, oil industry executives in India say. What options for a solution are on the table? * Alternative currency. The two countries could agree to use the Japanese yen or another currency to settle trades through a third-country central or commercial bank. Another possibilty is to settle crude purchases in euros, through a commercial bank. Either would require Indian crude importers to get their letters of credit backed by commercial banks abroad, disclosing details of crude and other shipments to ensure that trade does not take place in goods banned under UN sanctions.

Change in share prices over the past 10 years

Change in share prices over the past 10 years

Company	Oct-2000	Oct-2010	Change
Era Infra Engg. Ltd.	0.5	223.50	42,070%
Shriram Transport Finance Co. Ltd.	4.3	882.3	20,659%
Aban Offshore Ltd.	4.2	786.9	18,502%
Pantaloon Retail (India) Ltd.	3.8	470.0	12,334%
Praj Industries Ltd.	0.8	68.9	8,302%
Jubilant Organosys Ltd.	4.1	314.6	7,611%
Kalpataru Power Transmission Ltd.	2.9	173.3	5,874%
Havells India Ltd.	8.8	413.9	4,630%
Motherson Sumi Systems Ltd.	5.6	183.4	3,157%
Amtek Auto Ltd.	14.5	158.9	999%

China factory inflation eases, yuan hits record

BEIJING: Chinese inflation showed signs of cresting in a manufacturing survey on Thursday, an early indication that the government will be able to stick to its course of gradual rather than aggressive monetary tightening. An easing of price pressures could also cap this week's jump the yuan to a record high against the dollar, which the central bank said had played an important role in taming inflation. HSBC's China Purchasing Mangers' Index fell to a three month-low of 54.4 in December from 55.3 in November, suggesting that the pace of business expansion in the factories of the world's second-largest economy was moderating but still strong. The headline figure offers an early clue about the direction of overall economic growth, but all eyes now are on Chinese inflation, which is running at its fastest in more than two years, and Beijing's policy response to price pressures. In that arena, the HSBC survey offered a modicum of relief. The input cost sub-index fell to a three-month low of 72.3 from 80.8 in November, while the output cost sub-index edged down to a four-month low. But both figures were still well in expansionary territory, indicating that firms were passing higher raw material costs onto their customers rather than absorbing them and taking a hit on earnings. "Inflation rather than growth still remains the top policy concern, despite the moderation in December's manufacturing PMI reading," said Qu Hongbin, HSBC's chief economist for China. "We expect Beijing to continue to rely on quantitative tightening measures to curb inflation and counter the impact of QE2 (US monetary easing), while modest interest rate hikes are also needed to anchor inflation expectations in the coming months." The People's Bank of China raised benchmark interest rates on Saturday for the second time in just over two months. Analysts polled by Reuters expect it to raise rates twice more in the first half of 2011. Consumer price inflation raced to a 28-month high of 5.1 per cent in the year to November. The yuan rose to a record of 6.613 against the dollar on Thursday after a senior official from the central bank said gradual appreciation would help curb inflation and rebalance the economy. China will continue to push forward reform of the exchange rate mechanism, Sheng Songcheng, head of the central bank's statistics department, told the Financial News, an official newspaper. "The positive impacts of China's yuan reform on the domestic economy have significantly outweighed negative impacts," Sheng said. The yuan has gained just over 3 per cent since its depegging from the dollar in June. But in the past two weeks alone, it has jumped 1 per cent and traders think it is set for a new leg of measured gains. The appreciation of the past half year had dragged down domestic inflation by around one per centage point, Sheng said. He also said a survey of 5,000 manufacturers and 2,100 exporters had found that a stronger yuan was essential to rebalancing the economy toward greater reliance on domestic demand, a top objective of China's leaders.

ADAG to use 'Reliance' as master brand

Anil Ambani-led ADAG has decided to use 'Reliance' as master brand henceforth for all products and services offered by its group companies, dropping the word 'ADAG'.

"The brand 'Reliance' has a strong consumer connect, so we have decided to use it as the master brand for all the products and services," a senior ADAG official, who did not wish to be identified, said.

The official, however, added that there will be "flexibility" to use the ADAG logo as and when required.

The group has already started using 'Reliance' as the mother brand in its internal communications and, going forward, advertisements and touch points will be used to communicate the change to consumers. It has no plans of any mega campaign.

"Reliance has a strong brand awareness among consumers, so we do not need to spend heavily to communicate the change anyway," the official added.

According its official website, the group has a customer base of over 100 million in India and has business interests in communications, financial services, power, infrastructure and entertainment.