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Strategies for your Success
For a Detailed Report please reach out to us at info@arc-fs.com or at +91 11 4562 2128
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your Success
Stock Markets: A sell-off in global stocks and disappointing earnings numbers from a
few big corporates pulled down the key indices during 4 out of 5 trading sessions in the
week. The BSE Sensex fell below the 17,000 mark and ended the week down 695 points
or 4% to 16,860. The Nifty tumbled 216 points or 4.1% to 5,036
Biggest loser and Gainer:
Maruti was the top gainer for the week with a gain of 1.64%
While L&T was the top loser for the week with a loss of 10.83%
Foreign Exchange Reserves: India's foreign exchange reserves rose $899M to touch
$285.1B during the week ended 15th Jan’10, largely on account of revaluation of non-
dollar assets in reserves
Inflation: Annual food inflation based on the WPI eased marginally to 16.8% for the week
ended 9th Jan’10, even as price rise in many items continued to remain high. Food
inflation for the previous reported week was recorded at 17.3% on a YoY basis
Crude oil: The crude oil declined to a one-month low in New York after equities dropped
on the US President's proposed restrictions to rise-taking at financial institutions and on
speculation China will raise interest rates. Crude oil for Mar’10 delivery declined $1.17
(1.5%) to $74.91 per barrel on the New York Mercantile Exchange on 22nd Jan’10
Gold: Gold for February delivery ended lower at $1,090.7 an ounce at the Comex
division of the New York Mercantile Exchange on 22nd Jan’10 despite a weaker US dollar
17,554
17,64117,486
17,474
17,05116,860
15 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jan
BSE Sensex
10,610 10,61010,725
10,603
10,390
10,173
15 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jan
Dow Jones
21,654
21,460
21,678
21,286
20,86320,726
15 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jan
Hang Seng
BSE Sensex P/E
BUSINESS THIS WEEK - India
18 Jan 19 Jan 20 Jan 21 Jan 22 Jan
22.6022.39 22.21
21.8221.31
25 January 2010
1
Index Closing
22 Jan’10
Absolute
Change%
Change
BSE Sensex 16,860 (694) (4.0%)
NSE Nifty 5,036 (216) (4.1%)
Dow Jones 10,173 (437) (4.1%)
S&P 500 1,092 (44) (3.9%)
NASDAQ 2,205 (83) (3.6%)
FTSE 100 5,303 (152) (2.8%)
Nikkei 10,591 (391) (3.6%)
Hang Seng 20,726 (928) (4.3%)
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your Success
Mergers, Acquisitions and Joint Ventures
BUSINESS THIS WEEK - India
2
TMT:
Tata Communications acquires Digital Media
Management Co
Tata Communications, acquired BT group`s (BT) Mosaic
business, which offers an on demand digital media
management platform that manages content and
workflow from production to distribution across
collaborative market ecosystems
The amount of acquisition remains undisclosed
Global Cricket Ventures Acquires Willow TV
Global Cricket Ventures Ltd acquired the US based
Willow TV Inc. which runs the portal (www.willow.tv) for
live internet streaming of cricket matches from across the
world
GCV has bought out the total share capital of the
California-based company
The size of the deal was not disclosed
GTL Infra buys Aircel's tower biz for INR 84B
In the largest M&A transaction in India in the last 14
months, GTL Infrastructure Ltd will acquire telecom tower
assets of Aircel Ltd for INR 84B ($1.84B) through a
Special Purpose Vehicle (SPV)
The deal, which will make GTL Infra the world’s largest
independent telecom tower firm, will give the company an
additional 17,500 telecom towers taking its total portfolio
to 32,500
25 January 2010
Healthcare:
Ranbaxy Laboratories acquired angalore-based
BiovelLifesciencesPvt Ltd.
Ranbaxy Laboratories signed an agreement to acquire
product rights and manufacturing facility of Bangalore-
based BiovelLifesciencesPvtLtd., for an undisclosed sum
This will provide an entry platform to manufacture
vaccines as well as biotherapeutics
Biovel’s development pipeline comprises of vaccines and
biotherapeutics
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your SuccessBUSINESS THIS WEEK - India
Capital Raising (PE, VC, Right Issue)
2
Real Estate & Infrastructure:
IL&FS Investment Managers invests INR 670M in
Emerald Lands
IL&FS Investment Managers (IIML) is investing INR 670M
in Emerald Lands Pvt Ltd, which is part of Delhi-based
realty developer Silverglades Group
IIML, which manages two real estate funds worth over
$1.4B, is picking up a 28% stake in Emerald Lands Pvt Ltd
Banking & Financial Services:
GrameenKoota raises INR 200M from MicroVest
Bangalore-bsed microfinance entity Grameen Financial
Services Pvt Ltd (GrameenKoota) has raised INR 200M
from MicroVest I, a US based PE fund
With this deal, Microvest has made its debut investment in
India
25 January 2010
TMT:
Mumbai Angels invests in a market research co
Mumbai Angels has made an investment in AIOCD
Pharmasofttech AWACS Pvt Ltd, which is engaged in
creating an electronic infrastructure for pharmaceutical
retailers & wholesalers across the country
The deal is the 1st investment from Mumbai Angels this
year
The valuation and size of investment is not disclosed
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your SuccessBUSINESS THIS WEEK - India
3
IPO Scan
Listings Last Week:
No listing last week
IPOs Closed Last Week:
No IPOs closed last week
Year IPOs*
2010 4
2009 17
2008 37
2007 103
2006 75
2005 39
Future Plans:
Aqua Logistics, a logistics and supply-chain
company
Issue Size: INR 1.5B
Price Range: INR 220 – 230
Discount: 5% to Retail Bidders
Issue Opens: 25 Jan’10
Issue Closing Date: 28 Jan’10
BhartiInfratel and Indus Towers
Issue Size; NA
Proposed Date: FY’11
Orient Green Power, renewable energy
company
Issue Size: NA
Stake: ~20%
Proposes Date: Q2 CY’10
Oberoi Realty Ltd
Issue Size: INR 10B – 12B ($2.2B)
Stake: ~12.1%
Proposes Date: Q2 CY’10
DHRP Filed This Week With SEBI
Date of Filling Company Name Industry
20 Jan’10 Oberoi Realty Limited Real Estate
22 Jan’10 Technofab Engineering Limited Industrials
*IPO’s on the basis of listing
25 January 2010
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your SuccessBUSINESS THIS WEEK - India
4
In Focus
Banks may shed PE assets in Obama plan
President BarackObama's plan to limit financial risk-taking could force banks, such as Goldman Sachs or JPMorgan, to shed parts of their
private equity operations
Among the proposals, which require congressional approval, is that banks or financial institutions that own banks would not be able to
own, invest in or sponsor private equity funds unrelated to serving customers
25 January 2010
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your SuccessBUSINESS THIS WEEK - India
4
Company Net sales (INR M) Net profit (INR M)
Q3 Dec’08 Q3 Dec’09 Change Q3 Dec’08 Q3 Dec’09 Change
Maruti Suzuki’s 45,130 73,340 63% 2,140 6,880 221%
Essar Oil* 84,050 99,580 18% (12,300) (2,260) NM
McleodRussel 2,481 3,473 40% 486 1,379 184%
NMDC Ltd 23,353 15,880 (32%) 14,250 8,600 (40%)
Bharat Forge 4,531 5,078 12% 43.5 380 774%
NIIT Ltd 2,789 2,836 2% 55 95 73%
Noida Toll Bridge 200 224 12% 83 86 4%
BhartiAirtel 96,754 97,722 1% 21,667 22,100 2%
Zee News 1,430 1,700 19% 130 192 27%
Dish TV 1,928 2,772 44% (1,181) (762) (35%)
ITC 39,562 47,393 20% 9,032 11,442 27%
Tech Mahindra 11,320 11,870 5% 2,220 1,720 (23%)
Reliance Industries 1,157,650 1,348,910 17% 34,620 40,080 16%
BHEL 63,285 74,225 17% 7,886 10,725 36%
L&T 85,930 80,710 (6%) 6,040 7,590 26%
ICICI Bank 103,500 77,600 (25%) 12,700 11,000 (13%)
ONGC 124,364 153,145 23% 24,800 30,500 23%
HDFC Bank 44,685 40,348 (10%) 6,217 8,185 32%
Results Updates
25 January 2010
*The results for the period ended 31 Dec’09 are not comparable with the previous period ending on 31 Dec’08, in view of the start of commercial production of refinery with
effect from 1 May’08
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your Success
Training the Capital Markets AspirantsandParticipants
“I think its a unique path which helps
us to bridge the gap between our
theories and their application. The
best thing about ARC is their
knowledgeable & experienced
people.”
Analyst, Solitaire Capital
“The Research and Valuation
Programme helped me in cracking
the interview with a leading research
house.”
Sr. Analyst, Copal Research
“Applicability of DCF valuation is
totally different from what I learnt
during my studies. Now, I can say
with confidence that I know how to
value a company with DCF”
Past Delegate, JK Business School
“Theoretical topics explained with
practical application and real life
capital markets experience”
Past Delegate, ARC Academia Batch
www.arc-academia.com
Programmes Duration Starts on Days
Research & Valuation 14 Days 20 Feb’10 Saturdays & Sundays
Corporate Valuation & Financial Modeling 3 Days 12th Feb’10 Friday,Saturday &Sunday
12th, 13th 14th Feb’10
Dynamic, highly practical & interactive training programmes with real life case studies
Bridge the gap between academic theory and on-the-job application
Telephone:
+91 11 4562 2127Email:
info@arc-academia.com
© 2010 ARC Financial Services Private Limited, All rights reserved. Sameer Agarwal: s.agarwal@arc-fs.com I www.arc-fs.com
Strategies for your Success
ARC Financial Services Private Limited
311, Ansals Majestic Tower
PVR Complex, Block G, VikasPuri
New Delhi – 110018
India
Tel: +91 11 4560 1622
Tel: +91 11 4562 2127
Website: www.arc-fs.com
Email: s.agarwal@arc-fs.com
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