The Democratic-controlled Congress approved historic legislation.

The Democratic-controlled Congress approved historic legislation, extending health care to tens of millions of uninsured Americans and cracking down on insurance company abuses, a climactic chapter in the century-long quest for near universal coverage. Widely viewed as dead two months ago, the Senate-passed bill cleared the House on a 219-212 vote, with Republicans unanimous in opposition. All G7 countries, except Canada and Germany, will have debt-to-GDP ratios close to or exceeding 100 percent by 2014, said John Lipsky, first deputy managing director of the International Monetary Fund. Royal Dutch Shell Plc and PetroChina Co. agreed to acquire Arrow Energy Ltd. after raising their offer to A$3.5 billion ($3.2 billion), gaining access to the reserves of the Australian coal-seam gas producer. Shell and PetroChina will pay A$4.70 a share for Arrow’s Australian business. Google Inc.’s looming withdrawal from China adds to pressure to expand in South Korea and Japan, where the Web-search company has won a fraction of the popularity it enjoys in the U.S. and Europe. Thailand’s government will present a plan in two months to “create a level playing field” for telecom companies that includes possible compensation for changes to concessions, Prime Minister Abhisit Vejjajiva said. India to grow 8.3% in FY11, but inflation shall continue to be a concern. The Reserve Bank of India has increased the repo and reverse report by 25 basis points. The RBI is likely to take tougher action than the Friday’s revision in its key policy rates if headline inflation aggravates, says chief statistician Pronab Sen. Sahara Adventure Sports has won the bid for Pune franchise with a bid of USD370 million. Rendezvous Sports Group has won the franchise for Kochi team for an amount of USD333 million. Bharti has tied up debt to the tune of USD8.5 billion to finance Zain acquisition. RIL has renewed talks with ONGC-led consortium to pick up a stake in the Carabobo-1 oil block in Venezuela. IOC-OIL may hike 400 million pound for Gulfsands. SBI is planning to open 1000 more branches to take the total to 13000 by FY’11. Yes Bank plans to raise USD80 million for Cleantech Fund. Cipla will replace Sun Pharma in the BSE Sensex from May 3, 2010. Kilitch Drugs plans to launch 15 eyecare products in the next financial year in order to augment two per cent market share of the Rs.600 crore sector. Nifty March contracts ends the Week up by 130 points at a premium of 11.90 points adding OI by 6.6%. Nifty OI PCR at 1.685 compared to 1.440 at the close of last Week. Nifty puts sees addition of 1.33 Cr and calls sees addition of 1.645 Lakhs over the Week. Highest OI in Nifty calls seen at 5300 March strike and puts at 5000 March strike.
Nifty VIX at 17.75 from 19.73 last Week. ATM near Nifty options traded around 16-17% towards the end of the week. Long build up seen in APOLLOTYRE, WELGUJ, BEL, CUMMINSIND, STERLINBIO, SCI, SAIL, DCHL, MUNDRAPORT, BIOCON, ONMOBILE, TCS, CNXIT & SUNTV during the week. Short build up seen in during the week in IBREALEST, MOSERBAER, KSOILS, GODREJIND, BANKINDIA, TULIP, PIRHEALTH, HCC, KFA & MCDOWELL-N. FII side over the Week saws short covering and long build up in Nifty futures and short covering and long build up in stock futures. Significant addition in Nifty options was seen during the week with indications of addition in Nifty puts. The yen fell for the first time in five days against the euro on speculation European Union leaders meeting this week will agree on an aid package for Greece, damping demand for the safety of Japan’s currency. Google Inc., following through on a pledge to stop censoring search results in China, began serving mainland Chinese users via its unfiltered Hong Kong site, a move that could prompt the government to block the service. Elliott Associates LP and Paulson & Co. are discussing a plan to team with Brookfield Asset Management Inc. to bring mall owner General Growth Properties Inc. out of bankruptcy, two people familiar with the talks said. Europe’s stalemate over possible aid for debt-encumbered Greece deepened as European Central Bank President Jean-Claude Trichet spoke out against offering low- interest loans for which the Greek government has pressed. Time Warner Inc. plans to bid $1.5 billion for the Metro-Goldwyn-Mayer Inc. film studio, according to a person with knowledge of the decision. Bank of Japan board members were divided on their views of the economy at their February meeting, reflecting signs of a sustained recovery at the same time as declines in consumer prices were deepening. The Finance Minister expects the economy to grow at 8.75% next year. The recent rate hikes announced by the RBI will not hurt the growth in the economy, as per the RBI Governor. The Planning Commission has called for reforms in agriculture. Direct tax collections have grown at around 10% y-o-y to touch Rs.3.58 trillion on March 19, 2010. Cement companies are planning to tap the rural markets as over capacity can negatively impact the profit margins.
Sugar output in UP is expected to go up 19% to 5 million tonnes. The Government may soon raise prices of natural gas produced by ONGC and Oil India Ltd. UB Group has exited its 10.27% stake in Aventis Pharma for a consideration of Rs.414 crore.
Sahara Group shall consider an IPO for the IPL team by 2013. L&T has bagged Rs.977 crore defence order. Tata Motors has signed pact for a truck plant in Myanmar. Tata Quippo, the world’s largest independent tower firm, is looking at bringing a financial partner into the firm. Jayshree Tea will acquire Bihar-based M P Chini Industries for a consideration of Rs.112.50 crore. HDFC Ltd. shall buy 49% stake in Godrej’ subsidiary Godrej Estate Developers. Crompton Greaves has bagged contracts worth Rs.600 crore from Power Grid Corporation of India. Dhanlaxmi Bank plans to raise Rs.200 crore via bonds. Welspun Gujarat has made an open offer for 20% stake in MSK Projects at Rs.130.50 per share. TRF will acquire UK-based Hewitt Robins for around Rs.20 crore. Nifty March contracts ends the Day down by 61.40 points at a premium of 8.10 points adding OI by 1.5%. Nifty OI PCR at 1.668 compared to 1.685 at the close of last Day. Nifty puts sees addition of 3.63 Lakhs and calls sees addition of 7.66 Lakhs over the Day. Highest OI in Nifty calls seen at 5300 March strike and puts at 5000 March strike. Nifty VIX at 19.96 from 17.75 last Day. ATM near Nifty options traded around 12-14% towards the end of the day. Long build up seen in RCOM, INDIACEM, VOLTAS, BANKBARODA & TRIVENI during the day. Short build up seen in during the day in IBREALEST, HDIL, APOLLOTYRE, NEYVELILIG, DLF, SUZLON, RENUKA, ORCHIDCHEM, HINDALCO, LITL, CENTURYTEX, INDIAINFO, MLL, RELMEDIA, ADANIENT, BANKINDIA, YESBANK, DENABANK, RNRL, MCDOWELL-N, GVKPIL, IDBI & PRAJIND etc. FII side over the Day saws short build up in Nifty futures and short covering and short build up in stock futures. Significant addition in Nifty options was seen during the day.