Recrod Foreign Investments In India

Mayank Mehta
29 Sep, 2009
New York City

International investors increased their net exposure to India stocks by $11 billion, surpassing the record increase last year. Tata Consultancy estimated 20% increase in sales. Pantaloon Retail rises on better than expected results. Abbott India and Solvay Pharma surge. Rupee edges lower.

[R]6:00 PM Mumbai, 8:30 AM New York – International investors increased their net exposure to India stocks by $11 billion, surpassing the record increase last year. Tata Consultancy estimated 20% increase in sales. Pantaloon Retail rises on better than expected results. Abbott India and Solvay Pharma surge. Rupee edges lower.[/R]

Stocks in Mumbai trading increased after regulators released international investment data, Tata Consultancy indicated sales increase and Pantaloon Retail reported better than expected results. Rupee declined.

International funds increased their net purchases of stocks by 53,000 crore rupees or $11.2 billion to Sept 25 since the beginning of the calendar year. The SEBI data indicated net international purchases have surpassed the record investment last year.

The Sensex index in India increased 159.91 or 0.9% to 16,852.91 and CNX Nifty index rose 42.30 or 0.8% to 5,001.25. Among the Sensex 30 stocks, 19 rose and 11 fell.

On BSE trading, 1,653 stocks advanced, 1,103 declined and 89 were unchanged. Stocks in IT, banking and healthcare sectors increased rose but real estate stocks reversed early gains.

Rupee edged lower as crude oil prices declined. Rupee fell 0.3% to 48.11 against a dollar.

Gainers & Losers

Axis Bank Ltd rose 1.1% to Rs 925.20 said Axis Asset Management Company the mutual fund arm of the Bank has received the approval from Securities and Exchange Board of India to launch two funds.

Bharti Airtel rose 3.6% to Rs 429.00 ahead of the deadline for the merger with South Africa based MTN.

Cholamandalam DBS Finance Limited fell 1.6% to Rs 72.55 after it sold its asset management division to Larsen Toubro Finance for Rs 45 crore rupees. The unit has a loss of Rs 36 crore in the latest year ending in March.


Educomp Solutions Limited increased 4.0% to Rs 4,627.00 after the company fixed 28 October as the record date for a 5-for 1 stock split.

Era Infra Engineering Limited increased 1.8% to Rs 165.60 after 6.7% equity stake in the company changed hands in 11 block deals.

HDFC Bank Limited added 0.04% to Rs 1,609.20 said Indian banks no longer see a threat in the foreign banks presence. """"Unless they bring in a lot more money and come up with a completely differently strategy the foreign banks are no serious competition,"""" said Aditya Puri, HDFC Bank, Managing Director.

Hindustan Unilever Limited the fast moving consumer goods company rose 1.2% to Rs 262.65.

ICICI Bank Limited increased 3.1% to Rs 864.80.

JK Tyre & Industries Ltd decreased 0.8% to Rs 137.00 said workers strike at Rajasthan plant has disrupted production.

Lupin Limited added 1.5% to Rs 1,152.95 and the pharmaceutical company acquired U.S. rights for cholesterol controlling drug Antara from Oscient Pharmaceuticals Corporation. The company paid $38.61 million for the product and related assets inclusive of inventory.

MindTree Limited added 4.8% to Rs 623.75 after the business services outsourcing company said that it has signed an agreement with Kyocera Wireless Corp. to acquire Kyocera Wireless (India) Private Limited.

Pantaloon Retail (India) Limited added 2.1% to Rs 345.55 after the retailer reported net profit for the year declined 54% to Rs 100.70 million at the end of June compared to Rs 219.30 million from a year ago.

Patel Engineering Ltd fell 2.6% to Rs 500.50 after a block deal of one lakh shares was executed on NSE at Rs 500 per share.

Sadbhav Engineering Limited rose 1.8% to Rs 830.00 said it won Rs 477 crore road projects from Jharkhand Road Projects Implementation Co.

Solvay Pharma India Limited surged 15.5% to Rs 945.55 after the pharmaceutical company said American healthcare Abbott Laboratories acquired pharmaceutical business for $6.6 billion. Abbott India Ltd increased 18% to Rs 689.

Sundram Fasteners Limited declined 0.1% to Rs 40.80 and the company official said that it is looking to acquire technology intensive companies and also explore aircraft parts manufacturing.

Suryachakra Power Corporation Limited added 4.9% to Rs 23.30 after the firm said its board will meet tomorrow to consider issuing convertible equity warrants on a preferential basis.

Tata Consultancy Services Limited added 3.9% to Rs 610.40 said that it has been chosen by Carnation Auto to provide end-to-end system integration services.

Tata Power Company Limited increased 1.8% to Rs 1,307.20.

Tulip Telecom Limited fell 3.6% to Rs 920.15 said The Income Tax department conducted searches at various premises of the company for alleged evasion of taxes that may exceed several crore rupees.

Unity Infraprojects Limited rose 0.5% to Rs 407.00 after the engineering and construction contractor received an order of Rs 54.56 crore from Amanora Park Town, Pune for construction of six towers.

Asian Markets Review

The Nikkei 225 Index in Tokyo closed higher 90.68 or 0.91% to 10,100.20, Hang Seng index in Hong Kong increased 424.76 or 2.06% to 21,013.17 and CSI 300 index in China lower 0.36 or 0.01% to 2,972.29. ASX 200 index in Australia increased 75.70 or 1.62% to 4,753.10. The FTSE Bursa KL Composite index in Malaysia was higher 2.26 or 0.19% to 1208.21.

The Kospi Index in South Korea increased 14.50 or 0.87% to close at 1,690.05. SET index in Thailand closed higher 6.41 or 0.90% to 715.29. JSE Index in Indonesia increased 46.00 or 1.92% to 2,443.83. The Sensex index in India increased 159.91 or 0.96% to 16,852.91.