Sensex

Friday, February 13, 2009

DG - Indian Railway

The Indian Railways has always been the worst managed India Public Sector enterprise, at least till before Lalu Yadav the magician came along as Indian Railways Minister under UPA/Congress government.

Railways notorious for being a loss making enterprise has seen much radical changes over the last 5 years.

Long known for incurring losses , the Railways has dramatically improved under Prasad’s tenure by enhancing technology and cutting fares to boost traffic. The growth rate in the volume of goods carried by the Indian Railways has doubled to an average of 8% in the last five years from 3% in 2000-2001 . The Railways expects total number of passengers to climb 7% in the current fiscal year and in the next .

Mr. Prasad said the Railways will likely end the current year through March with a surplus of 193.2 billion rupees and pay 47.11 billion rupees to the federal government as its share of the profit. The Railways expects total income from moving people and goods in the next fiscal year to rise 13% to 931.59 billion rupees from an upwardly revised estimate of 823.93 billion rupees in the current year ending March.

In this years interim railway budget Lalu Yadav has kept the human aspect alive and focussed on keeping freight prices low and cutting passenger fares across the board by 2%. Also giving a boost to the infrastructure & employment sector,

43 new trains will be launched
$7.8 billion to be spent to moderize 63.000 km of railway network
We saw some companies surge ahead one being Titagarh Wagons ( Also read related posts : Kalindee Rail Dissapointed After Budget and Rail Related Company’s Surge )

Coming of May and a new government the new railway minister will surely have some important and big shoes to fill. Let’s see how things go forward till then we can all thank Mr Yadav for giving us Indian Railways the Jewel of India and India’s Truest Success story.

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DG - Business Plans Invited

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DG - Basics Of Automobile

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DG - Interim Rail Budget 2009-10: Sharekhan Railway Budget Special dated February 13, 2009

 

Railway Budget Special
[February 13, 2009] Please see the attachment for details

Sharekhan
www.sharekhan.com

Summary of Contents

RAILWAY BUDGET SPECIAL

Interim Rail Budget 2009-10

Capex flat; operating performance deteriorates
In his last budget before the general election, Rail Minister Lalu Prasad Yadav did not spring any surprise, with his speech highlighting the achievements of the Indian Railways in the last five years. While the freight rates were left unchanged, the passenger fares were further slashed by a modest 2% in the budget. Despite higher expenditures, particularly the employee cost, the Indian Railways continue to be profitable while its capital expenditure (capex) has also been sustained. However, with the implementation of the Sixth Pay Commission’s recommendations, the operating ratio has deteriorated, as it is estimated to rise to 88% in FY2009 and reach higher to 89.9% in FY2010, according to the budgeted estimates. 

The government expects the freight loading to increase by 7.1% to 910 metric tonne in FY2010 while the number of passengers is also likely to grow by 7% during the next fiscal. Though the government has announced plans to conduct a feasibility study for bullet trains on a number of routes, it has also emphasised that the work on the eastern dedicated freight corridor has already started from February 10, 2009 while the construction work on the western freight corridor would begin later this month.

Regards,
The Sharekhan Research Team

myaccount@sharekhan.com

 

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DG - FW: Sharekhan Post-Market Report dated February 13, 2009

 

 

From: The Sharekhan Research Team [mailto:marketwatch@research.sharekhan.com]
Sent: 13 February 2009 16:27
To: The Sharekhan Research Team
Subject: Sharekhan Post-Market Report dated February 13, 2009

 

 Sharekhan's daily newsletter

Visit us at www.sharekhan.com

 

February 13, 2009

 

Index Performance

Index

Sensex

Nifty

Open

9,540.60

2,896.95

High

9,695.59

2,969.75

Low

9,540.60

2,896.85

Today's Cls

9,634.74

2,948.35

Prev Cls

9,465.83

2,893.05

Change

168.91

55.30

% Change

1.78

1.91

 

Market Indicators

Top Movers (Group A)

Company

Price 
(Rs)

%
chg

Gainers

Spice Tele

86.90

10.21

Oracle Financial

681.45

10.18

EIH

111.90

8.96

GTL Infra

31.70

8.93

Renuka Sugar

90.70

8.88

Losers

RCF

39.95

-5.67

Rei Agro

56.85

-4.93

Sun Pharma

1,067.45

-3.45

ABB

441.40

-3.01

Century Textiles

177.20

-2.32

Market Statistics

-

BSE

NSE

Advances

1,484

777

Declines

947

405

Unchanged

100

40

Volume(Nos)

30.52cr

60.98cr

 Market Commentary 

Market upbeat 169 points

The market comes off its highs, but ends firm above 9600 on strong gains in heavyweights, metals, capital goods and power stocks. 

The market held firm above 9600 levels for almost the entire session, as strong US and Asian markets created a perfect platform for the bulls to pursue buying.  

 

Undeterred by the slowdown in foreign institutional investor inflows, Sensex resumed 75 points higher at 9541 and advanced further on substantial buying. While gains continued unabated, buying spree in heavyweights, capital goods, banking, metal, public sector units and auto stocks propelled the index to an intra-day high of 9696 in noon trades. Sensex finally wrapped the session 169 points up at 9635, while Nifty fell short of 2 points to breach the 2950 mark and ended at 2948, up 55 points.

The market breadth was positive. Of the 2,531 stocks traded on the BSE 1,484 stocks advanced, 947 stocks declined and 100 stocks ended unchanged. All sectoral indices bar BSE HC ended positive. BSE Metal index was the major gainer and soared 2.63% followed by BSE Auto (up 2.27%), BSE Metal (up 2.27%) and BSE Realty (up 2.21%) etc. 

Front-line stocks once again led the rally. Mahindra & Mahindra was the front-runner amongst the heavyweights and vaulted 7.05% at Rs321. Among the other major gainers ACC rose by 6.06% at Rs582.50, TISCO surged 4.88% at Rs194.50, DLF advanced 4.13% at Rs162.70, Reliance Communications scaled up 3.68% at Rs178.80, Maruti Suzuki India flared up 3.32% at Rs634 and ICICI Bank jumped 3.32% at Rs434.60. Reliance Infrastructure, Bharat Heavy Electricals, JP Associates, Reliance Industries, Sterlite Industries, State Bank of India and Larsen & Toubro gained over 2% each. Ranbaxy Laboratories however lost ground and tumbled 0.82% at Rs211, while Tata Power, Infosys & Bharti lost marginally.

Over 1.30 crore shares of Cals Refineries changed hands on BSE followed by Spice Communications (1.27 crore shares), Hexaware Technologies (1.27 crore shares), Wire & Wireless India Ltd (1.25 crore shares) and Dish TV (1.20 crore shares).

European Indices at 16:00 IST on 13-02-2009

Index

Level

Change (pts)

Change (%)

FTSE 100 Index

4272.60

70.36

1.67

CAC 40 Index

3039.00

74.66

2.52

DAX INDEX

4498.20

90.62

2.06

Asian Indices at close on 13-02-2009

Index

Level

Change (pts)

Change (%)

Nikkei 225

7779.40

74.04

0.96

Hang Seng Index

13554.67

326.37

2.47

Kospi Index

1192.44

12.60

1.07

Straits Times Index

1705.64

20.68

1.23

Jakarta Composite Index

1338.74

13.32

1.01

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“This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report.
The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (“SHAREKHAN and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. 
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DG - Rail Budget Speech

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