L&T rises on plan to raise Rs 6,000 crore in FY15

Larsen & Toubro (L&T) is currently trading at Rs. 1717.10, up by 1.35 points or 0.08% from its previous closing of Rs. 1715.75 on the BSE.

The scrip opened at Rs. 1722.00 and has touched a high and low of Rs. 1732.00 and Rs. 1710.00 respectively. So far 56434 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1774.70 on 09-Jun-2014 and a 52 week low of Rs. 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1774.70 and Rs. 1664.15 respectively. The current market cap of the company is Rs. 159102.35 crore.

The institutions and non-institutions held 55.07% and 42.25% stake in the company, respectively.

Larsen & Toubro (L&T) is planning to raise around Rs 6,000 crore through non-convertible debentures in the current fiscal. The company will raise the fund for capital expenditure, equity infusion in subsidiaries and debt repayment. The company will be seeking shareholders’ nod to raise the capital through debentures as stipulated in the Companies Act.

Additionally, L&T will be seeking shareholders' approval to raise $600 million through equity and hybrid instruments such as Qualified Institutional Placement (QIP), foreign currency convertible bonds and so on.

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.

SBI trades higher on the BSE

State Bank of India (SBI) is currently trading at Rs. 2691.85, up by 1.20 points or 0.04% from its previous closing of Rs. 2690.65 on the BSE.

The scrip opened at Rs. 2698.80 and has touched a high and low of Rs. 2710.00 and Rs. 2670.10 respectively. So far 87284 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. 2760.00 and Rs. 2648.70 respectively. The current market cap of the company is Rs. 201029.74 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) has selected Ezetap Mobile Solutions, the Bangalore-based company that is pioneering mobile payments for emerging markets, to launch the largest mobile Point-of-Sale (MPOS) deployment in India to date. The ‘Made In India’ solution will be made available to customers of the bank and its associate banks across the country. SBI plans to deploy 500,000 POS terminals within the next 5 years.

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.

Crude palm oil futures trade up on higher demand

Crude palm oil futures traded marginally higher as speculators enlarged their positions after pick-up in domestic as well as export demand. An increase in Malaysian crude palm oil production and stockpiles, capped the gains in crude palm oil prices to some extent. The contract for June delivery was trading at Rs 510.00, up by 0.16% or Rs 0.80 from its previous closing of Rs 509.20. The open interest of the contract stood at 2012 lots. The contract for July delivery was trading at Rs 506.80, up by 0.16% or Rs 0.80 from its previous closing of Rs 506.00. The open interest of the contract stood at 4854 lots on MCX.

Turmeric futures gain on improved export demand

Turmeric futures traded higher on NCDEX as speculators enlarged positions on pick-up in export demand in the spot market. Moreover, tight supplies from producing region as well as limited stocks position in the physical market also influenced the yellow spice prices.

The contract for June delivery was trading at Rs 5932.00, up by 1.99% or Rs 116.00 from its previous closing of Rs 5816.00. The open interest of the contract stood at 875.00 lots.

The contract for July delivery was trading at Rs 6052.00, up by 1.75% or Rs 104.00 from its previous closing of Rs 5948.00. The open interest of the contract stood at 14570.00 lots on NCDEX.

Rupee depreciates after early gains tailing dollar’s strength overseas

Indian rupee, after snapping two consecutive sessions’ losing streak and edging tad higher in previous trading session, resumed its depreciation on Thursday, tailing dollar’s strength against other Asian currencies overseas. However, gains of local equities, to some extent were capping rupee’s losses against. Meanwhile, caution ahead of consumer price inflation and the industrial output data due later in the session, also weighed on the sentiment. On the macro-front, street widely expects factory output to rise for the first time in April since January, to reflect healthy growth in core industries and consumer price index to ease in May. On the global front, dollar edged lower against a basket of major currencies on Wednesday for the first time in four sessions after traders dismissed expectations of an early Federal Reserve rate hike, while the yen advanced on few signs of further easing from the Bank of Japan.

The partially convertible currency is currently trading at 59.33, weaker by 6 paise from its previous close of 59.27 on Wednesday. The currency touched a high and low of 59.36 and 59.31 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 59.32 and for Euro stood at 80.32 on June 11, 2014. While, the RBI’s reference rate for the Yen stood at 57.99, the reference rate for the Great Britain Pound (GBP) stood at 99.4168. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date	1US$	1GBP
June 11, 2014	59.32	99.4168
June 10, 2014	59.24	99.6299

(RBI-Reference Rate)

Tata Motors gains as its arm JLR reports 20% growth in global sales in May

Tata  Motors is currently trading at Rs. 449.85, up by 4.25 points or 0.95% from its previous closing of Rs. 445.60 on the BSE.

The scrip opened at Rs. 445.90 and has touched a high and low of Rs. 451.30 and Rs. 442.25 respectively. So far 147166 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 464.20 on 16-May-2014 and a 52 week low of Rs. 263.10 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 454.90 and Rs. 417.00 respectively. The current market cap of the company is Rs. 123015.25 crore.

The promoters holding in the company stood at 34.33% while Institutions and Non-Institutions held 36.89% and 7.53% respectively.

Tata Motors’ British-based arm Jaguar and Land Rover (JLR) has registered 20% growth in global sales to 38,831 units in May. The Jaguar brand sold 6,450 units, up 4%, while Land Rover sold 32,381 units, a growth of 23%. JLR’s sales rose 53% in China, while in North America it was up 19%, the UK up 15%, Asia Pacific up 11% and Europe up 8%.

This has been another solid month for Jaguar Land Rover, with continued strong demand for models across the range in our international markets. The continued success of the F-Type convertible, coupled with the launch of Coupe, has supported Jaguar’s sales momentum. For Land Rover, the Range Rover Sport and Evoque continue to deliver impressive sales performance.

Idea raises Rs 3,750 crore from QIP, preferential issue.

The company is raising funds for upcoming spectrum auctions. Nine circles in which Idea Cellular holds spectrum in the premium 900 MHz band are coming up for renewal between December 2015 and April 2016.

Country's third largest telco Idea Cellular today said it has raised total Rs 3,750 crore from its qualified institutional placement offering and preferential issue to existing shareholder Axiata as the firm creates a war chest for the spectrum auctions later this year. Idea in separate filings to the BSE said the securities allotment committee of the board of directors has approved issuance of up to 5.18 crore shares at a price of Rs 144.68 per equity share worth Rs 750 crore to Axiata Investments 2 (India) Limited.

On June 12, 2014, at 11:26 hrs Idea Cellular was quoting at Rs 142.45, down Rs 1.15, or 0.8 percent. The 52-week high of the share was Rs 188.35 and the 52-week low was Rs 125.10. The company's trailing 12-month (TTM) EPS was at Rs 5.09 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 27.99. The latest book value of the company is Rs 46.94 per share. At current value, the price-to-book value of the company is 3.03.

Vishal Sikka named Infosys CEO; Murthy to quit as chairman

As was being speculated recently, Indian technology major Infosys announced Thursday Vishal Sikka will take over as CEO and MD of the company with effect from August 1.

Sikka, who was earlier on the executive board of SAP AG, will take over from SD Shibulal, and said he was humbled to be leading an "iconic pioneer" in the IT industry. The company also announced a host of other top-level changes: founder NR Narayana Murthy, who returned from retirement to lead the company as executive chairman, will step down from June 14, and will be appointed Chairman-Emeritus.

On the news of Murthy stepping down as executive chairman, Balakrishnan said it was the right move as the new CEO would want to have his own executive team to implement his plans for the firm. Infosys shares were up about 1 percent in early Mumbai trading.

On June 12, 2014, at 11:10 hrs Infosys was quoting at Rs 3168.05, down Rs 10.7, or 0.34 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2343.00. The company's trailing 12-month (TTM) EPS was at Rs 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.85. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 4.32.