MCX SILVERM June contract was trading at Rs 44098 down Rs 441, or 0.99 percent. The SILVERM rate touched an intraday high of Rs 44470 and an intraday low of Rs 44004. So far 7706 contracts have been traded. SILVERM prices have moved down Rs 15401, or 25.88 percent in the June series so far. MCX SILVERM August contract was trading at Rs 44680 down Rs 441, or 0.98 percent. The SILVERM rate touched an intraday high of Rs 44955 and an intraday low of Rs 44575. So far 6485 contracts have been traded. SILVERM prices have moved down Rs 2426, or 5.15 percent in the August series so far. MCX SILVERM November contract was trading at Rs 45502 down Rs 431, or 0.94 percent. The SILVERM rate touched an intraday high of Rs 45800 and an intraday low of Rs 45466. So far 156 contracts have been traded. SILVERM prices have moved down Rs 4694, or 9.35 percent in the November series so far.
Monday 30 June 2014
Omaxe strengthens on plan to raise around Rs 300 crore
Omaxe is currently trading at Rs 142.50, up by 1.35 points or 0.96% from its previous closing of Rs 141.15 on the BSE.
Omaxe is planning to raise around Rs 300 crore from equity market. The company will use the fund to launch six projects across North India. The company will raise the same either through qualified institutional placement (QIP) or institutional placement programme (IPP).
Moreover, the company is in the process of launching six to seven projects in Indore, Bhiwadi, Rohtak, Chandigarh, Faridabad, Jaipur and Vrindavan. The launches would happen in the second quarter of the current financial year.
Omaxe is one of India’s leading real estate development companies. Founded in 1987, the company has fast spread its footprints in 9 states across 30 cities.
Crude oil futures decline on weak Asian trade
Crude oil futures declined on MCX as speculators trimmed their positions amid a weak trend in the Asian trade on softer US demand. Further, the speculation that the infighting in Iraq may not crimp supplies from the OPEC’s second biggest crude producer as the oil-rich southern part remains safe from violence too supported the downside.
The contract for July delivery was trading Rs 6342.00, down by 0.35% or Rs 22.00 from its previous closing of Rs 6364.00. The open interest of the contract stood at 11687.00 lots.
The contract for August delivery was trading at Rs 6333.00, down by 0.35% or Rs 22.00 from its previous closing of Rs 6355.00. The open interest of the contract stood at 1099.00 lots on MCX.
Jeera futures rise on pick up in demand
Jeera futures traded up on NCDEX as speculators created fresh positions amid pick-up in export demand. Moreover, buying support from retailers and stockiest against fall in supplies from producing belts, also supported the uptrend.
The contract for July delivery was trading at Rs 11375.00, up by 0.80% or Rs 90.00 from its previous closing of Rs 11285.00. The open interest of the contract stood at 6633.00 lots.
The contract for August delivery was trading at Rs 11595.00, up by 0.83% or Rs 95.00 from its previous closing of Rs 11500.00. The open interest of the contract stood at 3873.00 lots on NCDEX.
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SRF hits fresh 52-week high on BSE
SRF is currently trading at Rs 597.05, up by 69.50 points or 13.17% from its previous closing of Rs 527.55 on the BSE.
SRF has received an approval for setting up Multipurpose Plant-2 for creating additional manufacturing capacity for specialty chemicals at the company’s Chemical Complex in Dahej, Gujarat at an aggregated cost of Rs 140 crore. The board of directors at its meeting held on May 09, 2014 has approved for the same.
SRF is a leader in refrigerants, engineering plastics and industrial yarns in India. The company also manufactures polyester films and fluoro specialties. Besides India, SRF has a presence in Dubai, South Africa and Thailand.
Dr Reddy's gains 1%; JP Morgan overweight, sees 15% upside.
The brokerage is positive on Dr Reddy’s growth trajectory, given its focus on limited competition generics in the US and the bio-similars opportunity longer term.
Shares of Dr Reddy’s Labs were up over 1 percent intraday on Monday.
JP Morgan remains overweight on the pharma major with a target price of Rs 3000, implying 15 percent upside from the current market price.The brokerage is positive on Dr Reddy’s growth trajectory, given its focus on limited competition generics in the US and the bio-similars opportunity longer term.
The pharma company has nine new drugs in clinical stage.
Oil prices down in Asian trade despite tensions in Iraq.
Oil prices eased in Asia on softer US demand, but tensions in the Middle East where jihadists have declared an Islamic state straddling Iraq and Syria will likely keep prices high, analysts said.
US benchmark West Texas Intermediate for August delivery was down 26 cents at $105.48 a barrel in late-morning trade and Brent crude dropped 22 cents to $113.08.As the world's top oil consuming nation, the health of the US economy is a key influence on oil prices.
US benchmark West Texas Intermediate for August delivery was down 26 cents at $105.48 a barrel in late-morning trade and Brent crude dropped 22 cents to $113.08.As the world's top oil consuming nation, the health of the US economy is a key influence on oil prices.
Friday 27 June 2014
MCX Gold October contract trades flat.
MCX GOLD August contract was trading at Rs 27661 down Rs 6, or 0.02 percent. The GOLD rate touched an intraday high of Rs 27799 and an intraday low of Rs 27641. So far 4006 contracts have been traded. GOLD prices have moved down Rs 1639, or 5.59 percent in the August series so far.
MCX GOLD October contract was trading at Rs 27748 up Rs 6, or 0.02 percent. The GOLD rate touched an intraday high of Rs 27879 and an intraday low of Rs 27723. So far 118 contracts have been traded. GOLD prices have moved down Rs 552, or 1.95 percent in the October series so far.
MCX GOLD October contract was trading at Rs 27748 up Rs 6, or 0.02 percent. The GOLD rate touched an intraday high of Rs 27879 and an intraday low of Rs 27723. So far 118 contracts have been traded. GOLD prices have moved down Rs 552, or 1.95 percent in the October series so far.
Bank of Baroda exits MCX; exchange appoints new auditor
State Bank of India, Corporation Bank and Bank of Baroda - all PSU lenders - had together bought 9.69 percent in MCX in 2004 at a total investment of Rs 3.94 crore, according to the offer share sale document of the exchange.
Multi-Commodity Exchange of India (MCX) today said one of its investors, state-run Bank of Baroda , has sold its entire stake in the troubled bourse. State Bank of India , Corporation Bank and Bank of Baroda - all PSU lenders - had together bought 9.69 percent in MCX in 2004 at a total investment of Rs 3.94 crore, according to the offer share sale document of the exchange. In April, Corporation Bank reportedly offloaded stake worth Rs 19.91 crore in the exchange and brought down its stake to 1.32 percent from 2.10 percent.
Asian Paints trades in green on the BSE
Asian Paints is currently trading at Rs 587.50, up by 2.55 points or 0.44% from its previous closing of Rs 584.95 on the BSE.
Domestic paint major Asian Paints is assessing opportunities to expand its footprint in international markets. Meanwhile, expansion of the manufacturing capacity in Bangladesh from 12,000 kilo litre to 24,000 KL per annum is nearing completion and commissioning is expected by the first quarter of 2014-15. The company’s subsidiary at Sri Lanka has acquired land at Matugama Industrial estate for a new manufacturing facility.
Moreover, the company’s wholly-owned subsidiary in Mauritius, Asian Paints (International), had in April signed an agreement with shareholders of Kadisco Chemical Industry PLC., Ethiopia, to acquire either directly or through its subsidiaries 51 per cent of its share capital. The company is awaiting regulatory approvals for closure of this acquisition.
Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.
Ranbaxy up; Nod to Generic Version of Novartis Drug
Ranbaxy Laboratories rose 5.8 per cent in early trading after the US Food and Drug Administration (FDA) on Thursday said it has approved the company's generic version of Novartis AG's blood pressure drug Diovan.
The US Food and Drug Administration (FDA) said on Thursday it has approved Ranbaxy Laboratories Ltd's generic version of Novartis AG's blood pressure drug Diovan.
Novartis lost its patent rights to Diovan in the United States at the end of 2012 but has avoided generic competition because of multiple quality control problems at Ranbaxy that prevented the company from exercising its right to become the first generic version of the drug on the market.
The US Food and Drug Administration (FDA) said on Thursday it has approved Ranbaxy Laboratories Ltd's generic version of Novartis AG's blood pressure drug Diovan.
Novartis lost its patent rights to Diovan in the United States at the end of 2012 but has avoided generic competition because of multiple quality control problems at Ranbaxy that prevented the company from exercising its right to become the first generic version of the drug on the market.
Bond yields inch up ahead of Rs 15,000 crore debt auction
Bond yields edged higher in the range-bound trade on Friday, as traders made room for Rs 15,000 crore debt sale later in the session, though further upside of yields was capped on account of overnight fall of US treasury yields and brent crude.
On the global front, US Treasuries yields dropped on Thursday as traders eyeing a possible slowing of American economic growth drove up prices for a fourth straight day. Meanwhile, Brent crude steadied above $113 a barrel on Friday, holding on to most of previous session's losses and heading for the biggest weekly loss since March as investors unwound their positions on reduced concerns over exports from strife-torn Iraq.
Back home, the yields on new 10 year Government Stock 2023 were trading 1 basis point higher at 8.74% from its previous close of 8.73% on Thursday.
The benchmark five-year interest rate swaps were trading 1 basis point lower at 7.93% from its previous close of 7.94% on Thursday.
The Government of India announce the sale of four dated securities for Rs 15,000 crore on June 27, 2014, including (i) 8.27% Government Stock 2020 for a notified amount of Rs 3000 crore, (ii) 8.83% Government Stock 2023 for a notified amount of Rs 7000 crore, (iii) 8.32% Government Stock 2032 for a notified amount of Rs 2,000 crore and lastly, (iv) 8.30% Government Stock 2042 for a notified amount of Rs 3000 crore.
L&T moves up as its arm forms a Joint Venture with Thales
Larsen & Toubro (L&T) is currently trading at Rs. 1677.75, up by 5.40 points or 0.32% from its previous closing of Rs. 1672.35 on the BSE.
L&T Technology Services, a wholly-owned subsidiary of Larsen & Toubro (L&T), has purchased 74% of the equity capital of Thales Software India, the Indian subsidiary of Thales, the global technology leader in aerospace, transportation and defense and security markets. With this transaction, L&T Technology Services will now manage and oversee the management control, operations and delivery of services of the new joint venture.
The joint venture brings together the strategic strengths of both the groups. By retaining 26% equity stake, Thales will help the company develop the latest trends in the avionics industry, one of its core businesses. This collaboration adds to L&T Technology Services' growing competencies by enhancing its expertise in high-end avionic software.
The joint venture capitalises on the existing strong relationship between the two groups, L&T and Thales and ensures a long term partnership in the engineering services domain. Furthermore, the transaction should enable Thales to select this new group as its Indian Offset Partner, resulting in inflow of Offset related revenues in the joint venture.
Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.
ICICI Prudential MF introduces Capital Protection Oriented Fund - Series VI - 1100 Days Plan D
ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Capital Protection Oriented Fund - Series VI - 1100 Days Plan D, a close ended income scheme. The NFO opens for subscription on Jun 27, 2014 and closes on Jul 10, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 10,000 & thereafter multiples of Rs 1 during NFO.
The scheme’s performance will be benchmarked against CRISIL MIP Blended Index and its fund managers are Vinay Sharma, Rahul Goswami, Aditya Pagaria and Ashwin Jain.
The investment objective of the scheme is to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The debt securities would mature on or before the maturity of the Scheme.
Yes Bank gains on entering into a MoU for vehicle financing.
Yes Bank, India’s fourth largest private sector bank, has entered into a Memorandum of Understanding (MoU) with Ashok Leyland whereby the bank will extend retail financing to customers of Ashok Leyland’s commercial vehicles.
With this tie-up, Ashok Leyland will be able to leverage the extensive branch network and customer reach of Yes Bank and provide more efficient and effective service to its customers.
Yes Bank has international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers. It has a strong pan India presence with 500+ branches and 1100+ ATMs in all 28 states and 7 Union Territories.
Piramal Enterprises gains on entering into MoU with SBICAP
Piramal Enterprises is currently trading at Rs. 690.00, up by 2.15 points or 0.31% from its previous closing of Rs. 687.85 on the BSE.
Piramal Enterprises and SBI Capital Markets (SBICAP) have entered into a Memorandum of Understanding (MoU) whereby both the companies have agreed to cooperate on business related opportunities in acquiring controlling stakes in Road PPP Assets where many developers are looking at hiving off their completed / near completion assets to repair their Balance Sheets.
The company and SBICAP have mutually agreed to engage on a preferred relationship basis for advisory services for such identified road assets. SBICAP would also assist PEL in obtaining necessary approvals for closing such transactions.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
Market positive; healthcare scrips up ~2%
Some buying activity is seen in healthcare, consumer durables, oil & gas and banking on BSE, while auto sector is showing weakness.
BSE Sensex is trading up 134 points at 25,196, while S&P Nifty is trading up 43 points at 7,536.
BSE Mid-cap is up 0.69% at 9,244, while BSE Small-cap is up 0.88% at 10,069.
Some buying activity is seen in healthcare, consumer durables, oil & gas and banking on BSE, while auto sector is showing weakness.
Sun Pharma, HDFC, Dr Reddy's Lab, TCS, ONGC and RIL are among the gainers, whereas Bharti Airtel, M&M, Hindalco, Maruti Suzuki, Hero MotoCorp and Tata Motors are losing sheen on BSE.
In its 9th Financial Stability Report, the RBI report said persistent high inflation can alter inflation expectations permanently and may ultimately impact financial savings, investment and growth. Expectations are interest rate status quo may continue here.
High inflation and the consequent low real rate of return on financial assets may force savers to take excessive risks in their search for better returns, the RBI said.
BSE Sensex is trading up 134 points at 25,196, while S&P Nifty is trading up 43 points at 7,536.
BSE Mid-cap is up 0.69% at 9,244, while BSE Small-cap is up 0.88% at 10,069.
Some buying activity is seen in healthcare, consumer durables, oil & gas and banking on BSE, while auto sector is showing weakness.
Sun Pharma, HDFC, Dr Reddy's Lab, TCS, ONGC and RIL are among the gainers, whereas Bharti Airtel, M&M, Hindalco, Maruti Suzuki, Hero MotoCorp and Tata Motors are losing sheen on BSE.
In its 9th Financial Stability Report, the RBI report said persistent high inflation can alter inflation expectations permanently and may ultimately impact financial savings, investment and growth. Expectations are interest rate status quo may continue here.
High inflation and the consequent low real rate of return on financial assets may force savers to take excessive risks in their search for better returns, the RBI said.
Thursday 26 June 2014
Ranbaxy trades with traction on the bourses
Ranbaxy Laboratories is currently trading at Rs. 473.70, up by 4.70 points or 1.00% from its previous closing of Rs. 469.00 on the BSE.
Ranbaxy Laboratories reportedly has filed applications seeking to sell drugs in the US, which will be manufactured at its Gurgaon plant, which is not among those barred by the US Food and Drug Administration (FDA). The company has five manufacturing facilities that are registered with the FDA, including Paonta Sahib, Mohali, Toansa, Gurgaon, and Dewas.
Ranbaxy’s Gurgaon plant has a pilot manufacturing line and the company could it scale it up the facility for commercial use, if it secured product approvals from there.
Ranbaxy’s three formulation manufacturing facilities at Paonta Sahib (Himachal Pradesh), Dewas (Madhya Pradesh) and Mohali (Punjab) have received the FDA’s import alert. Further, US regulator has also barred supply of drugs from Ranbaxy’s active pharmaceutical ingredient manufacturing plant in Toansa (Punjab) to the US.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
Nucleus Software moves up on unveiling FinnOne Neo
Nucleus Software Exports is currently trading at Rs. 210.05, up by 0.40 points or 0.19% from its previous closing of Rs. 209.65 on the BSE.
Nucleus Software Exports has launched FinnOne Neo, a product suite built to manage the lending requirements of the banking and financial services industry. FinnOne Neo is an agile and customer centric platform capable of servicing the entire loan lifecycle. The comprehensive product suite incorporates the latest business focus, compliance, technology, functionalities security aspects.
Leveraging Nucleus Software’s global leadership in lending solutions, this new offering has the capability to enhance operational efficiency and drive growth with superior risk management.
Nucleus Software Exports a leading provider of software solutions to the Banking, Financial Services Industry (BFSI). It has developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards.
Market edges lower as oil & gas stocks slump
Some buying activity is seen in healthcare, capital goods and auto on BSE, while banking, power realty, oil & gas, IT and FMCG sectors are showing weakness.
BSE Sensex is trading down 142 points at 25,171, while S&P Nifty is trading down 40 points at 7,529.
BSE Mid-cap is up 0.13% at 9,220, while BSE Small-cap is down 0.06% at 10,007.
Some buying activity is seen in healthcare, capital goods and auto on BSE, while banking, power realty, oil & gas, IT and FMCG sectors are showing weakness.
L&T, Dr Reddy's Lab, Wipro, BHEL and M&M are among the gainers, whereas ONGC, RIL, NTPC, Gail and HDFC are losing sheen on BSE.
SEBI Chairman UK Sinha today said that the regulator has recommended tax measures for mutual fund industry to the government.
BSE Mid-cap is up 0.13% at 9,220, while BSE Small-cap is down 0.06% at 10,007.
Some buying activity is seen in healthcare, capital goods and auto on BSE, while banking, power realty, oil & gas, IT and FMCG sectors are showing weakness.
L&T, Dr Reddy's Lab, Wipro, BHEL and M&M are among the gainers, whereas ONGC, RIL, NTPC, Gail and HDFC are losing sheen on BSE.
SEBI Chairman UK Sinha today said that the regulator has recommended tax measures for mutual fund industry to the government.
Essar Oil delisting floor price at Rs 108.18; stock up 5%
Shares of Essar OilBSE 4.97 % were locked at 5 per cent upper circuit after the company fixed the floor price of Rs 108.15 for proposed voluntary delisting of shares.
The board, on Monday, had approved delisting of shares from the BSE and NSE.
After taking Essar Energy Plc private from the London Stock Exchange (LSE), the Essar group has proposed to delist Essar Oil.
Promoters Essar Energy Holdings (EEHL) wants to buy back from the public about 13.7 crore shares (27.5 per cent) that it doesn't own in Essar Oil.
"Full ownership of the company will provide EEHL with increased operational/financial flexibility to support the company's businesses and strategic needs," the notice said. EEHL is the holding firm of the Ruais which is incorporated in Mauritius.
The board, on Monday, had approved delisting of shares from the BSE and NSE.
After taking Essar Energy Plc private from the London Stock Exchange (LSE), the Essar group has proposed to delist Essar Oil.
Promoters Essar Energy Holdings (EEHL) wants to buy back from the public about 13.7 crore shares (27.5 per cent) that it doesn't own in Essar Oil.
"Full ownership of the company will provide EEHL with increased operational/financial flexibility to support the company's businesses and strategic needs," the notice said. EEHL is the holding firm of the Ruais which is incorporated in Mauritius.
Moser Baer touches the roof on allocating 10 MW of modules for rooftop installation in Delhi, U.P
Moser Baer India is currently trading at its upper circuit limit of Rs. 8.38, up by 0.39 points or 4.88% from its previous closing of Rs. 7.99 on the BSE.
Moser Baer Solar has considered 10 MW of modules for rooftop installations in Delhi & U.P. The company has earmarked the quantity from its Elite series modules which has been acclaimed in the quality conscious Japanese market. Moreover, the company is geared to enhance supplies further. Any customer opting for rooftop installations in these cities would be accorded priority and get the required supply. The 1 MW of rooftop installation would be able to generate around 16,00,000 units of power which could cater to almost 1066 households in a year considering 1500 units of consumption through the year.
Recently, the company commissioned a 32.2 MW solar farm in a record time of 39 days operating at an optimum generation efficiencies from the day 1 of its operations. The projects commissioned over 225 acres of land had multiple sub- contractors working round the clock to ensure timely completion of the project including getting it grid connected.
Moser Baer India headquartered in New Delhi, is a leading global tech-manufacturing company. The company also emerged as the first to market the next-generation of storage formats like Blu-Ray discs in India.
Mentha oil futures trade lower on profit booking
Mentha oil futures traded lower on MCX as speculators booked profits at prevailing levels after decline in demand from consuming industries in the spot market. Further, ample inventories in the physical market due to increased arrivals from the major producing belts too added pressure on mentha oil prices.
The contract for June delivery was trading at Rs 747.30, down by 0.33% or Rs 2.50 from its previous closing of Rs 749.80. The open interest of the contract stood at 2087 lots.
The contract for July delivery was trading at Rs 764.40, down by 0.43% or Rs 3.30 from its previous closing of Rs 767.70. The open interest of the contract stood at 5573 lots on MCX.
Fertiliser stocks rally as gas price hike deferred.
Shares of fertilizers companies gained in trade as the government announced it is deferring gas price hike by three months.
Natural gas is used as a raw material by fertilisers companies for manufacturing urea and other complex fertilisers. Hike in natural gas prices would have had negative impact on the fertiliser industry.
Cost of production of domestic urea would have increased sharply if gas price revision would have happened.
Natural gas is used as a raw material by fertilisers companies for manufacturing urea and other complex fertilisers. Hike in natural gas prices would have had negative impact on the fertiliser industry.
Cost of production of domestic urea would have increased sharply if gas price revision would have happened.
Gold futures surge on soft US economic data
Gold futures surged on Wednesday on the back of the dollar weakened against a basket of few major currencies on some soft economic data from the US with gross domestic product declining much more than previously estimated in the first quarter. However, soft physical demand for the yellow metal capped the gains.
Gold futures for August delivery settled up $1.30 at $1,322.60 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.2 percent at $1,319.85 an ounce.
L&T Finance Holdings’ arm enters into tie-up with AMW Motors
L&T Finance Holdings’ wholly-owned subsidiary - L&T Finance has enter into tie-up with AMW Motors to provide retail financing options for range of medium and heavy haulage vehicles and tippers. The agreement will help provide loans for the entire range of AMW vehicles such as tippers, the new AMW haulage range and other special purpose vehicles (SPV). AMW sells trucks ranging from 16 to 49 tonnes.
L&T Finance, which offers a wide spectrum of financial products and services for trade, industry and agriculture, is looking to further expand its base in rural retail financing.
SAIL gains on resuming operations at its Bhilai’s plant
Steel Authority of India (SAIL) is currently trading at Rs. 94.50, up by 0.20 points or 0.21 % from its previous closing of Rs. 94.30 on the BSE.
Steel Authority of India (SAIL) has restored more than half of its hot metal production at its flagship plant in Bhilai after 12-day shutdown following an accident early this month. On June 24, the plant had achieved hot metal production of 7,557 tonnes against normal daily production of 13,000 to 13,500 tonnes. This was possible as the blast furnace No. 5 resumed operation (for a shift). One more blast furnace is likely to come on stream on June 26. Another, which is under capital repair since April, will however resume production later.
A rupture in a water pipe, which carries water to the blast furnaces, killed six and forced the shutdown of five blast furnaces on June 12.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
TCS secures multi-year outsourcing deal from two European companies
Tata Consultancy Services (TCS) has secured a multi-year outsourcing deal from two major European companies. The country’s largest software exporter has been selected by Telenor Norway to modernise the telephony company’s fixed line operations. The two companies had signed a memorandum of understanding in March this year for the work that would continue till 2018. TCS has been one of two main suppliers of IT services (applications management and systems development) to Telenor Norway since 2010.
The Tata group company has also been selected to modernise Dutch insurance firm REAAL N.V’s ‘life insurance’ portfolio for a five-year period. TCS would also develop the insurer’s mainframe applications, according to a statement from the Mumbai-headquartered company.
TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.
Indices down; oil & gas declines ~3.4%
Some buying activity is seen in banking, capital goods, metal and auto on BSE, while realty, oil & gas, IT, FMCG and healthcare sectors are showing weakness | |
Wednesday 25 June 2014
Phoenix Mills trades higher on the BSE
Phoenix Mills is currently trading at Rs 311.25, up by 7.75 points or 2.55% from its previous closing of Rs 303.50 on the BSE.
The promoters holding in the company stood at 65.95% while Institutions and Non-Institutions held 27.01% and 7.04% respectively.
Nordea 1 Sicav Emerging Consumer Fund has offloaded 15 lakh shares of Phoenix Mills through the open market route. The shares were sold on an average price of Rs 303.30 valuing the transaction to Rs 45.49 crore.
The Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.
Infosys partners with Maybelline to deploy an optimized website for mobile device
Infosys, a global leader in consulting, technology services and outsourcing, has partnered with Maybelline, a global leader in the make-up market, to create, test and deploy a new optimized website for a wide range of mobile devices. The website will deliver the latest promotions for new products, tutorial videos and make up tips to Maybelline users. It will also allow easy browsing of products from the company.
The mobile web development program will enable Maybelline to take advantage of the rapid growth of mobile internet in Asia by reaching out to its end consumers effectively. Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.
Silver futures fall on weak global trend.
Silver prices fell for the third straight session and lost 0.67 per cent to Rs 44,703 per kg in futures trading today on continued offloading of positions by speculators amid a weak global trend.
At the Multi Commodity Exchange, silver for delivery in September fell further by Rs 300, or 0.67 per cent, to Rs 44,703 per kg in a business turnover of 341 lots.
In a similar fashion, the white metal for delivery in July declined by Rs 294, or 0.66 per cent, to Rs 44,200 per kg in 2,399 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend that pulled down silver prices in futures trade.
Meanwhile, silver dropped one per cent to $20.72 an ounce after climbing to $21.16 yesterday, the highest since March 18.
At the Multi Commodity Exchange, silver for delivery in September fell further by Rs 300, or 0.67 per cent, to Rs 44,703 per kg in a business turnover of 341 lots.
In a similar fashion, the white metal for delivery in July declined by Rs 294, or 0.66 per cent, to Rs 44,200 per kg in 2,399 lots.
Market analysts said speculators trimmed positions in tandem with a weak global trend that pulled down silver prices in futures trade.
Meanwhile, silver dropped one per cent to $20.72 an ounce after climbing to $21.16 yesterday, the highest since March 18.
Tata Steel trades higher on the bourses
The promoters holding in the company stood at 31.35% while Institutions and Non-Institutions held 40.87% and 24.81% respectively.
Tata Steel has concluded the disinvestment of its stake in the Dhamra Port Company to Adani Ports & Special Economic Zone (APSEZ). The company had earlier executed the share purchase agreement dated May 16, 2014 with L&T Infrastructure Development Projects (L&T IDPL) and APSEZ for the same.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
SBI trades in pink of its health on BSE
State Bank of India (SBI) is currently trading at Rs. 2699.15, up by 39.65 points or 1.49 % from its previous closing of Rs. 2659.50 on the BSE.
State Bank of India (SBI), the nation’s biggest lender has started the 'SBI Youth for India fellowship' to enable young people to work for the development of India for 1 year. The SBI Youth for India fellowship is a volunteering platform initiated, funded and managed by SBI in partnership with non-government organisations (NGOs). The Program enables urban youth to work on rural development projects for 1 year.
Meanwhile, the bank’s business per employee has increased by 51% in the last four years on the back of large-scale recruitment. Staff productivity or business per employee has increased to Rs 10.64 crore at the end of March 2014 against Rs 7.04 crore as at the end of March 2011.
The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous closing of Rs. 2659.50 on the BSE.
The scrip opened at Rs. 2660.05 and has touched a high and low of Rs. 2704.50 and Rs. 2648.20 respectively. So far 238253 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2833.85 on 26-May-2014 and a 52 week low of Rs. 1452.90 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 2681.00 and Rs. 2567.20 respectively. The current market cap of the company is Rs. 201436.62 crore.
The promoters holding in the company stood at 58.60 % while Institutions and Non-Institutions held 30.53 % and 8.75 % respectively.
State Bank of India (SBI), the nation’s biggest lender has started the 'SBI Youth for India fellowship' to enable young people to work for the development of India for 1 year. The SBI Youth for India fellowship is a volunteering platform initiated, funded and managed by SBI in partnership with non-government organisations (NGOs). The Program enables urban youth to work on rural development projects for 1 year.
Meanwhile, the bank’s business per employee has increased by 51% in the last four years on the back of large-scale recruitment. Staff productivity or business per employee has increased to Rs 10.64 crore at the end of March 2014 against Rs 7.04 crore as at the end of March 2011.
The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.
Bond yields edge lower tailing surge of crude oil, US treasuries yields overnight
Bond yields edged lower tracking an overnight rise in crude oil prices and an uptick in U.S. yields.
On the global front, U.S. Treasuries' prices rose on Tuesday, getting a lift from investors turning away from weakening Wall Street equities and reawakened geopolitical worries due to fighting in Iraq. Meanwhile, Brent crude inched lower on Wednesday, but held close to a nine-month high above $114 a barrel as Sunni insurgents battled government forces for control of Iraq's biggest refinery.
Back home, the yields on new 10 year Government Stock 2023 were trading 1 basis point higher at 8.73% from its previous close of 8.72% on Tuesday.
The benchmark five-year interest rate swaps were trading 2 basis points higher at 7.99% from its previous close of 7.97% on Tuesday.
The Reserve Bank of India has announced the auction of 91 and 364 days Government of India Treasury Bills for notified amount of Rs 8,000 crore and Rs 6000 crore respectively. The auction will be conducted on June 25, 2014 using ‘Multiple Price Auction’ method.
The Government of India announce the sale of Four dated securities for Rs 15,000 crore on June 27, 2014, including
(i) 8.27% Government Stock 2020 for a notified amount of Rs 3000 crore,
(ii) 8.83% Government Stock 2023 for a notified amount of Rs 7000 crore,
(iii) 8.32% Government Stock 2032 for a notified amount of Rs 2,000 crore and lastly,
(iv) 8.30% Government Stock 2042 for a notified amount of Rs 3000 crore.
Rupee resumes depreciating streak on Wednesday on escalating tensions in Iraq
Indian rupee, after taking a breather in previous trading session, yet again resumed its depreciating streak on Wednesday tracing weakness of local equities and other Asian currencies, while month-end dollar demand from oil importers also weighed on the sentiment. Mainly, escalating tensions in Iraq, which threatened to push up brent crude prices, eating into risk appetite for emerging market’s assets, led to downbeat sentiment for local unit. On the global front, dollar held up against the yen and euro in Asia on Wednesday as dealers await the release of key US data later in the week.
The partially convertible currency is currently trading at 60.27, weaker by 14 paise from its previous close of 60.13 on Tuesday. The currency touched a high and low of 60.38 and 60.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.10 and for Euro stood at 81.75 on June 24, 2014. While, the RBI’s reference rate for the Yen stood at 58.94, the reference rate for the Great Britain Pound (GBP) stood at 102.3228. The reference rates are based on 12 noon rates of a few select banks in Mumbai.
| Date | 1US$ | 1GBP |
| June 24, 2014 | 60.10 | 102.3228 |
| June 23, 2014 | 60.19 | 102.5623 |
Engineers India shines on receiving Navratna status
Engineers India is currently trading at Rs. 313.60, up by 10.65 points or 3.52% from its previous closing of Rs. 302.95 on the BSE.
The scrip opened at Rs. 311.35 and has touched a high and low of Rs. 318.00 and Rs. 311.10 respectively. So far 1,13,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 329.00 on 09-Jun-2014 and a 52 week low of Rs. 121.15 on 20-Aug-2013.
Last one week high and low of the scrip stood at Rs. 322.00 and Rs. 295.10 respectively. The current market cap of the company is Rs. 3,127.00 crore.
The promoters holding in the company stood at 69.37% while Institutions and Non-Institutions held 21.00% and 9.63% respectively.
Engineers India is a total solutions consultancy company and EPC contractor in petroleum refining, petrochemicals, pipelines, oil and gas terminals and storages, fertilizers, mining & metallurgy and infrastructure projects. The company is also diversifying into water and waste management and has made inroads into nuclear, solar and thermal power sectors.
Godrej Properties gains on entering into an agreement with Shubh Properties Cooperatief
Godrej Properties is currently trading at Rs. 247.00, up by 9.65 points or 4.07% from its previous closing of Rs. 237.35 on the BSE.
The scrip opened at Rs. 238.90 and has touched a high and low of Rs. 249.80 and Rs. 237.35 respectively. So far 17,16,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 262.00 on 09-June-2013 and a 52 week low of Rs. 153.90 on 30-Jan-2014.
Last one week high and low of the scrip stood at Rs. 249.80 and Rs. 230.40 respectively. The current market cap of the company is Rs. 4,912.00 crore.
The promoters holding in the company stood at 74.96% while Institutions and Non-Institutions held 13.95% and 11.09% respectively.
Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra.
Tuesday 24 June 2014
Tata Communications rises on entering into partnership with Kaltura
Tata Communications is currently trading at Rs 372.00, up by 7.30 points or 2.00% from its previous closing of Rs 364.70 on the BSE.
The scrip opened at Rs 366.15 and has touched a high and low of Rs 376.25 and Rs 365.15 respectively. So far 35984 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 392.40 on 09-Jun-2014 and a 52 week low of Rs. 136.90 on 05-Aug-2013.
Last one week high and low of the scrip stood at Rs. 389.60 and Rs. 360.00 respectively. The current market cap of the company is Rs. 10686.08 crore.
The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 19.14% and 5.87% respectively.
Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
Jindal Steel strengthens on bagging order to supply long rails to Tata-Aldesa joint venture
Jindal Steel & Power is currently trading at Rs 330.65, up by 4.00 points or 1.22% from its previous closing of Rs 326.65 on the BSE.
The scrip opened at Rs 326.10 and has touched a high and low of Rs 333.00 and Rs. 326.10 respectively. So far 44766 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 350.00 on 09-Jun-2014 and a 52 week low of Rs 181.55 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs 329.50 and Rs 310.70 respectively. The current market cap of the company is Rs 30346.77 crore.
The promoters holding in the company stood at 60.41% while Institutions and Non-Institutions held 26.45% and 13.14% respectively.
Moreover, the company has submitted a registration fee of Rs 10 crore for the special freight train operator (SFTO) licence to transport these rails. Further, the steelmaker proposes to operate these rakes from October-November of 2014.
Power Grid rises on getting nod for two investment proposals worth Rs 5551.84 crore
Power Grid Corporation of India is currently trading at Rs. 132.90, up by 1.25 points or 0.95% from its previous closing of Rs. 131.65 on the BSE.
The scrip opened at Rs. 132.50 and has touched a high and low of Rs. 133.60 and Rs. 132.35 respectively. So far 71240 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 140.90 on 10-Jun-2014 and a 52 week low of Rs. 86.70 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs. 136.35 and Rs. 130.70 respectively. The current market cap of the company is Rs. 68873.88 crore.
The promoters holding in the company stood at 57.90% while Institutions and Non-Institutions held 34.63% and 7.47% respectively.
Power Grid Corporation of India (PGCIL) has received an approval for two investment proposals worth Rs 5551.84 crore. The board of directors at its meeting held on June 21, 2014 has approved for the same. The first investment approval is for transmission system associated with Lara STPS-I (2x800MW) generation project of NTPC at an estimated cost of Rs 400.47 crore, with commissioning schedule of 34 months progressively from the date of investment approval.
The second approval is for transmission system strengthening in WR-NR Transmission corridor for IPPs in Chhattisgarh at an estimated cost of Rs 5,151.37 crore, with commissioning schedule of 45 months progressively from the date of investment approval.
Tata Steel gains on completing disinvestment in Dhamra Port Company
Tata Steel is currently trading at Rs. 528.95, up by 2.00 points or 0.38% from its previous closing of Rs. 526.95 on the BSE.
The scrip opened at Rs. 528.00 and has touched a high and low of Rs. 530.70 and Rs. 527.55 respectively. So far 25,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 578.60 on 09-Jun-2014 and a 52 week low of Rs. 195.40 on 07-Aug-2013.
Last one week high and low of the scrip stood at Rs. 539.80 and Rs. 515.00 respectively. The current market cap of the company is Rs. 51,372.00 crore.
The promoters holding in the company stood at 31.35% while Institutions and Non-Institutions held 40.87% and 24.81% respectively.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
Monday 23 June 2014
Himalya International gains despite terminating JV agreement with Simplot
Himalya International is currently trading at Rs 16.85, up by 0.10 points or 0.60% from its previous closing of Rs 16.75 on the BSE.
The scrip opened at Rs 17.00 and has touched a high and low of Rs 17.25 and Rs 16.75 respectively. So far 26666 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 21.02 on 28-Apr-2014 and a 52 week low of Rs 5.60 on 11-Sep-2013.
Last one week high and low of the scrip stood at Rs 18.20 and Rs 16.50 respectively. The current market cap of the company is Rs 87.86 crore.
The promoters holding in the company stood at 35.44% while Institutions and Non-Institutions held 4.59% and 59.97% respectively.
Himalaya International operates as a frozen food company in India. The company manufactures and sells mushrooms, vegetables, cheese, yogurts, appetizers, snacks, and sweets, as well as baby potatoes and buffalo cheese.
Bharti Airtel gains on inking definitive agreement with Loop Mobile (India)
Bharti Airtel is currently trading at Rs. 341.60, up by 3.30 points or 0.98% from its previous closing of Rs. 338.30 on the BSE.
The scrip opened at Rs. 339.35 and has touched a high and low of Rs. 342.60 and Rs. 338.50 respectively. So far 15,000 shares were traded on the counter.
The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 373.50 on 01-Nov-2013 and a 52 week low of Rs. 277.10 on 26-Jun-2013.
Last one week high and low of the scrip stood at Rs. 344.85 and Rs. 328.10 respectively. The current market cap of the company is Rs. 1,36,571.00 crore.
The promoters holding in the company stood at 65.32% while Institutions and Non-Institutions held 24.17% and 10.51% respectively.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
Whirlpool aims revenue of Rs 200 crore from kitchen appliances biz
Whirlpool of India is aiming over six-fold jump in its revenue from kitchen appliances in three to four years to touch Rs 200 crore on the back of demand for its hi-end products. Moreover, the company which expects its kitchen appliances segment to be one of the future growth drivers is expecting to garner Rs 30 crore turnover in FY15.
The company’s kitchen appliances range includes microwave oven, conventional ovens, refrigerators and dishwashers. At present, the company is working with a number of modular kitchen manufacturers for its built-in appliances and also talking to builders for providing its products to luxury apartments.
Whirlpool of India is the leading Home Appliance Company which provides variety of household products like refrigerator, washing machine, air conditioner, microwave oven etc.
ITC’s apparel retail chain plans to open 60 stores in 3 years
In order to expand its retail footprint in India, ITC’s apparel retail chain - Wills Lifestyle plans to open 60 stores in existing and new markets, including smaller cities, in the next three years. The company has partnered with Franchise India to open new stores.
Wills Lifestyle currently has 92 stores across 40 cities, spread across premium high-streets, malls as well as 5 boutiques at luxury ITC Hotels. It is also available in 700 premium department stores (Shoppers Stop, Lifestyle and Central) and leading apparel outlets.
Friday 20 June 2014
US crude snaps three days losing streak
Crude oil futures spiked up again after three consecutive days of modest decline with deteriorating condition in Iraq increasing concerns over disruption in oil supplies, after the ongoing conflict between militants and government forces intensified. Meanwhile, the US announced that it stood ready to take action if need be. Though, concerns the crisis will escalate and disrupt oil production sent prices higher. There was some positive economic news that capped the gains, number of individuals filing for initial jobless benefits in the week declined by 6,000, while the Federal Reserve Bank of Philadelphia said that its manufacturing index rose to an eight-month high of 17.8 in June.
Benchmark crude oil futures for July delivery, gained $0.46 or 0.5 percent to close at $106.43 a barrel after trading in a range of $106.69 and $105.32 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for August delivery gained 1.01 percent to $115.42 a barrel on the ICE.
Rcom rings loud on plan of setting up sub-sea cable linking Mumbai to Singapore
Reliance Communications is currently trading at Rs. 150.40, up by 1.30 points or 0.87% from its previous closing of Rs. 149.10 on the BSE.
The scrip opened at Rs. 149.45 and has touched a high and low of Rs. 150.70 and Rs. 148.00 respectively. So far 202284 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 105.80 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 154.35 and Rs. 141.60 respectively. The current market cap of the company is Rs. 31073.92 crore.
The promoters holding in the company stood at 67.80 % while Institutions and Non-Institutions held 20.82 % and 11.11 % respectively.
Reliance Communications (RCom) is planning to set up sub-sea cable linking Mumbai to Singapore with a total investment of $200 million. The new ICX cable is part of the company’s strategy to provide a direct route to emerging markets corridor.
RCom, which is also in discussion with three entities to partner in the project, will spend around $40-45 million in the cable system. The remaining amount would be brought in by its three partners, of which one is a technology partner.
Bajaj Auto gains on the buzz of plan to launch quadricycle by October 2014
Bajaj Auto is currently trading at Rs. 2174.70, up by 13.85 points or 0.64% from its previous closing of Rs. 2160.85 on the BSE.
The scrip opened at Rs. 2170.00 and has touched a high and low of Rs. 2184.00 and Rs. 2152.85 respectively. So far 3023 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2228.75 on 13-Jun-2014 and a 52 week low of Rs. 1683.35 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 2228.75 and Rs. 2137.05 respectively. The current market cap of the company is Rs. 62597.32 crore.
The promoters holding in the company stood at 50.02% while Institutions and Non-Institutions held 25.68% and 24.30% respectively.
Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. The company had registered a 4% rise in total sales to 351,436 units in May 2014 against 339,348 units in May 2013. The sales of the motorcycles increased by 3% and stood at 313,020 units in the month under review against 304,780 units in May 2013.
Rupee at 60.26, down 18 paise vs US dollar.
The rupee today lost 18 paise to 60.26 against the dollar in early trade at the Inter bank Foreign Exchange market due to increased demand for the US currency from importers.
Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices but said that a higher opening in the domestic equity market and euro's strength against the US currency capped the fall to some extent.
The rupee yesterday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08 as the American currency weakened on US Fed keeping its policy of ultra-row interest rates intact.
Meanwhile, the benchmark BSE Sensex rose by 45.08 points, or 0.18 per cent, to 25,246.88 in early trade today.
Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices but said that a higher opening in the domestic equity market and euro's strength against the US currency capped the fall to some extent.
The rupee yesterday rose 31 paise, logging its best single-day gain in over a month, to end at 60.08 as the American currency weakened on US Fed keeping its policy of ultra-row interest rates intact.
Meanwhile, the benchmark BSE Sensex rose by 45.08 points, or 0.18 per cent, to 25,246.88 in early trade today.
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