MindTree gains on launching cloud based platform ‘IGG’ for waste management

Mindtree is currently trading at Rs. 814.50, up by 4.35 points or 0.54% from its previous closing of Rs. 810.15 on the BSE.

The scrip opened at Rs. 813.00 and has touched a high and low of Rs. 822.30 and Rs. 812.40 respectively. So far 5787 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 862.48 on 21-Feb-2014 and a 52 week low of Rs. 391.35 on 17-Jun-2013.

Last one week high and low of the scrip stood at Rs. 834.00 and Rs. 788.00 respectively. The current market cap of the company is Rs. 6801.62 crore.

The promoters holding in the company stood at 16.52% while Institutions and Non-Institutions held 46.04% and 37.43% respectively.

Mindtree, a global technology services company, has launched ‘I Got Garbage’ (IGG), a cloud-based platform aimed to simplify waste management and transform every waste picker in Bangalore, India into an entrepreneur through a structured and governed waste management framework.

Besides, IGG offers capabilities such as an ERP for waste pickers, social engagement platform for citizens, marketplace for waste management services, and a waste picker benefits tracker. The initiative is a result of collaboration between Mindtree, Hasiru Dala, Waste Wise Trust and seven other social businesses.

Chana futures edge lower on higher supply

Chana futures traded down on NCDEX as speculators trimmed positions amid increased supplies from producing regions against lower demand in the spot market. However, concerns over production of summer-sown pulses due to a delay in the arrival of monsoon rains, capped some losses in chana prices to some extent.

The contract for June delivery was trading at Rs 2803.00, down by 0.60% or Rs 17.00 from its previous closing of Rs 2820.00. The open interest of the contract stood at 3670 lots.

The contract for July delivery was trading at Rs 2884.00, down by 0.59% or Rs 17.00 from its previous closing of Rs 2901.00. The open interest of the contract stood at 171460 lots on NCDEX.

SKS Microfinance trades higher on the BSE.

SKS Microfinance is currently trading at Rs. 273.90, up by 2.30 points or 0.85% from its previous closing of Rs. 271.60 on the BSE.

The scrip opened at Rs. 273.00 and has touched a high and low of Rs. 278.00 and Rs. 271.45 respectively. So far 93636 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 309.90 on 02-Jun-2014 and a 52 week low of Rs. 97.00 on 25-Jun-2013.

Last one week high and low of the scrip stood at Rs. 295.00 and Rs. 259.65 respectively. The current market cap of the company is Rs. 3427.04 crore.

The promoters holding in the company stood at 13.23% while Institutions and Non-Institutions held 55.48% and 31.29% respectively.

Further, long-term debt instruments with ‘A+’ rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry a low credit risk.

SKS Microfinance (SKS) is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.

Mentha Oil futures trade higher on strong demand

Mentha Oil futures traded up on MCX as speculators created fresh positions driven by strong demand at spot markets from consuming industries. Further, restricted arrivals from Chandausi in Uttar Pradesh too supported commodity prices uptrend.

The contract for June delivery was trading at Rs 777.80, up by 1.12% or Rs 8.60 from its previous closing of Rs 769.20. The open interest of the contract stood at 4161 lots.

The contract for July delivery was trading at Rs 792.00, up by 1.19% or Rs 9.30 from its previous closing of Rs 782.70. The open interest of the contract stood at 2184 lots on MCX.

Copper futures move higher on Monday

Copper futures climbed on Monday after Premier Li Keqiang said that China is confident it will hit its growth target of 7.5% this year, which eased concerns over the outlook for the world’s largest copper consumer. Further, the reports showed an increase in US manufacturing output and factory activity in New York state accelerated sharply this month, encouraging hopes of a strong rebound in economic growth this quarter too supported copper prices uptrend. Copper futures for September delivery rose 0.5% to settle at $3.044 a pound on the Comex metals division of New York Mercantile Exchange. While copper on the London Metal Exchange advanced 0.5% to $ 6,691 a metric ton.

Crude futures consolidate despite the escalating violence in Iraq

Crude oil futures consolidated slightly on Monday and ended flat despite the escalating violence in Iraq. Traders took cues from reports suggesting the oil producing areas in the country to be largely insulated from the strife. Also, an International Monetary Fund (IMF) decision to trim its 2014 growth forecast for the US watered down oil’s gains. The IMF said it now expects the US economy to expand 2% in 2014, down from its forecast of 2.8% in April.

Benchmark crude oil futures for July delivery, declined marginally by $0.01 to close at $106.90 a barrel after trading in a range of $107.54 and $106.61 a barrel on the New York Mercantile Exchange. In London, Brent oil futures for August delivery gained 0.21 percent to $112.70 a barrel on the ICE.

Physical rubber prices declined on Monday

Physical rubber prices declined on Monday due to lack of enquiries from the tyre sector, though lower arrivals in the local trading houses capped some losses in rubber prices to some extent.

Spot prices for RSS-4 variety declined to Rs 145/ kg compared to its previous closing of Rs 145.50/ kg, while RSS-5 variety closed at Rs 141/ kg compared to its previous close of Rs 141.50/ kg.

In the futures market, contract of July delivery increased to Rs 144.20 compared to its previous closing of Rs 144.04, while August delivery closed at Rs 143.10 compared to its previous close of Rs 142.60 on the National Multi Commodity Exchange (NMCE).

Asian markets trade mixed on Iraq worries

Most of the Asian equity benchmarks are trading mixed in the early deals on Tuesday, with investors mostly treading cautiously amid worries about the escalating violence in Iraq. The overnight flat close on Wall Street also contributed to an extent to the somewhat sluggish movements in the region. Meanwhile, the Japanese stock markets surged higher as brokerages and precision-instrument makers climbed. However, worries about the escalating violence in Iraq limited market's gains to an extent. Among other markets in the Asia-Pacific region, Hong Kong, Shanghai and Singapore are notably lower. Malaysia is down marginally, while Indonesia, South Korea and Taiwan are modestly higher.

Hang Seng declined 141.72 points or 0.61% to 23,158.95, Straits Times slipped by 17.43 points or 0.53% to 3,272.83, Shanghai Composite decreased by 17.28 points or 0.83% to 2,068.70 and FTSE Bursa Malaysia KLCI was down by 1.11 points or 0.06% to 1,870.47.

On the flip side, Nikkei 225 spurted by 53.96 points or 0.36% to 14,987.25, KOSPI Index soared 4.05 points or 0.20% to 1,997.64, Taiwan Weighted increased 34.84 points or 0.38% to 9,237.77 and Jakarta Composite was up by 0.64 points or 0.01% to 4,886.10.

Hindustan Petroleum Corporation (HPCL) is currently trading at Rs. 410.10, up by 3.95 points or 0.97% from its previous closing of Rs. 406.15 on the BSE.

The scrip opened at Rs. 410.00 and has touched a high and low of Rs. 413.80 and Rs. 400.30 respectively. So far 65296 shares were traded on the counter.

The promoters holding in the company stood at 51.11% while Institutions and Non-Institutions held 32.76% and 16.13% respectively.

Hindustan Petroleum Corporation (HPCL) is planning to ink fresh memorandum of understanding (MoU) with the Rajasthan Government to revive its Rs 37,230-crore refinery-cum-petrochemical complex plan in Rajasthan’s Barmer district.

Earlier in December 2013, Rajasthan Government had raised objections to the fiscal concessions proposed for the nine-million-tonne project.

HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.

Tata Power gains on reporting 13,183 MUs generation in FY13-14

Tata Power Company is currently trading at Rs. 105.60, up by 0.25 points or 0.24% from its previous closing of Rs. 105.35 on the BSE.

The scrip opened at Rs. 106.20 and has touched a high and low of Rs. 106.35 and Rs. 104.15 respectively. So far 157297 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 115.25 on 09-Jun-2014 and a 52 week low of Rs. 65.86 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 115.00 and Rs. 98.65 respectively. The current market cap of the company is Rs. 28723.12 crore.

The promoters holding in the company stood at 33.04% while Institutions and Non-Institutions held 48.22% and 18.57% respectively.

The company continued its robust operations with sales volume of 14,516 MUs for FY13-14. Tata Power’s subsidiaries CGPL and MPL have contributed significantly after achieving full operations. Tata Power’s Hydro, Haldia, Maithon and Mundra power plants generated 1,597 MUs, 942 MUs, 6328 MUs and 23,928 MUs respectively.

Tata Power is India’s largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

Indian Hotels strengthens on plan of launching 12 new properties this year

The Indian Hotels Company is currently trading at Rs. 102.00, up by 0.60 points or 0.59 % from its previous closing of Rs. 101.40 on the BSE.

The scrip opened at Rs. 101.60 and has touched a high and low of Rs. 102.60 and Rs. 100.65 respectively. So far 22637 shares were traded on the counter.

The promoters holding in the company stood at 37.53 % while Institutions and Non-Institutions held 38.40 % and 24.04 % respectively.

The new hotels would be launched under the company’s four brands Taj, Vivanta by Taj, Gateway and Ginger. The launches would be under various models viz. ownership, management contracts and joint ventures, according to an Indian Hotels Company presentation.

Last financial year, the company inaugurated seven properties (1,060 rooms overall), but did not launch any property under the Taj brand.

RCOM plans to tie-up with Reliance Jio

Anil Ambani-promoted Reliance Communications is planning with Mukesh Ambani’s Reliance Jio for a pan-India intra-circle agreement, according to reports. Report stated that the deal may be signed in a few days. RCom has five MHz of 800-MHz spectrum in most circles across the country. The intra-circle roaming pact will also give Reliance Jio roaming rights on RCom’s 2,100-MHz 3G band and offer services on this band, says report.

Vodafone Group plans to buy Cobra Automotive

Vodafone employs 250 staff at its M2M operations Vodafone Group PLC stated that it has agreed to buy Cobra Automotive Technologies SpA, an Italian provider of electronics services to the car industry, for EUR145 million ($197.5 million). Report stated that British mobile telecommunications giant, is planning to develop its business in the so-called "machine-to-machine" (M2M) industry. Vodafone employs 250 staff at its M2M operations, which reported a 21% rise in revenue for the fiscal year ended March 31. The company reportedly said it has increased M2M connections to 16.2 mn.

Indices in green; BSE Small-cap up 1%

BSE Mid-cap is up 0.78% at 9037, while BSE Small-cap is up 0.98% at 9,800 

BSE Sensex is trading up 14 points at 25,205, while S&P Nifty is trading up 6 points at 7,540. 

BSE Mid-cap is up 0.78% at 9037, while BSE Small-cap is up 0.98% at 9,800.

JP Infratech, Max India. Jet Air India,Gitanjali Gems and IRB Infra are among the gainers, whereas Suzlon Energy, Godrej Construction, M&M, HDFC and Hero MotoCorp are losing sheen on BSE.