Rupee slips against US dollar as Iraq violence intensifies.

The rupee hit day's low of 60.43 against the US dollar as the intensifying Iraq crisis leads to fears of supply disruption in oil supplies and domestic shares fell sharply. Local stocks fell more than 1 per cent on waning risk appetite due to the Iraq conflict.

Brent crude held above $113 per barrel on Wednesday as heavy fighting in Iraq shut the country's biggest refinery and led to the withdrawal of staff by foreign oil firms, stoking worries about exports from the key oil producer .. 

India imports nearly two-thirds of its oil needs, leaving its currency especially vulnerable to price swings.

The partially convertible rupee is seen trading in a range of 60.02 to 60.50 during the session. 

Gold futures decline on weak global cues

Gold futures traded down on MCX as speculators indulged in trimming positions following the weak trend in the overseas markets before the US Federal Reserve concludes a two-day policy meeting today putting pressure on the gold prices at futures trade.

The contract for August delivery was trading at Rs 26715.00, down by 0.46% or Rs 124.00 from its previous closing of Rs 26839.00. The open interest of the contract stood at 9137.00 lots.

The contract for October delivery was trading at Rs 26780.00, down by 0.41% or Rs 111.00 from its previous closing of Rs 26891.00. The open interest of the contract stood at 1090.00 lots on MCX.

NIIT moves up on the BSE

NIIT is currently trading at Rs. 59.95, up by 0.05 points or 0.08% from its previous closing of Rs. 59.90 on the BSE.

The scrip opened at Rs. 60.30 and has touched a high and low of Rs. 61.50 and Rs. 59.70 respectively. So far 423001 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 65.60 on 13-Jun-2014 and a 52 week low of Rs. 14.90 on 31-Jul-2013.

Last one week high and low of the scrip stood at Rs. 65.60 and Rs. 56.50 respectively. The current market cap of the company is Rs. 995.83 crore.

The promoters holding in the company stood at 34.20% while Institutions and Non-Institutions held 26.53% and 39.27% respectively.

NIIT offers cutting-edge programs in Nigeria, mapped to international certifications- Mastermind Series, courses on Oracle, Java, CCNA & CCNP, A+ & N+, Infrastructure Management, Web Design & Development, Graphic Designing, MIS, Project Management, among others.

MTNL soars on adding 12,794 subscribers in May

Mahanagar Telephone Nigam (MTNL) is currently trading at Rs. 33.90, up by 2.10 points or 6.60% from its previous closing of Rs. 31.80 on the BSE.

The scrip opened at Rs. 32.70 and has touched a high and low of Rs. 34.65 and Rs. 32.10 respectively. So far 2612498 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 35.20 on 26-May-2014 and a 52 week low of Rs. 9.71 on 20-Aug-2013.

Last one week high and low of the scrip stood at Rs. 34.85 and Rs. 27.15 respectively. The current market cap of the company is Rs. 2138.85 crore.

The promoters holding in the company stood at 56.25% while Institutions and Non-Institutions held 21.93% and 19.62% respectively.

Mahanagar Telephone Nigam (MTNL), the state owned telecom firm which operates in Delhi and Mumbai, has added 11,702 mobile subscribers in May, 2014. Following the addition, the company’s total subscriber count stood at 32.60 lakh.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.

Network 18 Media hits the roof after fresh investment in BookMyShow

Network 18 Media & Investments hit an upper circuit limit of 5% at Rs 63.95 at 11:49 IST on BSE after the company made an additional investment in Bigtree Entertainment, which owns online entertainment ticketing brand BookMyShow.

Meanwhile, the BSE Sensex was up 6.22 points, or 0.02%, to 25,527.41.

On BSE, so far 1.70 lakh shares were traded in the counter, compared with an average volume of 3.76 lakh shares in the past one quarter.

The stock hit a high of Rs 63.95 and a low of Rs 61.15 so far during the day. The stock hit a 52-week high of Rs 71.45 on 9 June 2014. The stock hit a record low of Rs 25.10 on 3 September 2013.

The stock had outperformed the market over the past one month till 17 June 2014, rising 72.42% compared with 5.80% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 91.97% as against Sensex's 17.02% rise.

The mid-cap company has an equity capital of Rs 523.33 crore. Face value per share is Rs 5.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 4.12 crore in Q4 March 2014 compared with net profit of Rs 12.42 crore in Q4 March 2013. Total income rose 4.4% to Rs 762.90 crore in Q4 March 2014 over Q4 March 2013.

Nita Ambani to join RIL Board

Nita M. Ambani is being nominated to the Board in place of Shri. Ramnik H. Ambani, who is retiring at the age of 90 years.

At the 40th AGM, RIL Chairman, Mukesh Ambani Welcomes Nita Ambani to the board of Reliance Industries.

Earlier ,the Board of Directors of Reliance Industries Limited has recommended the appointment of Smt. Nita M. Ambani, the Chairperson of Reliance Foundation as a Director on the Board of Reliance Industries Limited. She is being nominated to the Board in place of Shri. Ramnik H. Ambani, who is retiring at the age of 90 years.

Over the past two decades, Smt. Ambani has made significant contribution to the social sector by leading many path-breaking initiatives spanning education, health, rural transformation, environmental protection and sports.

Tata Steel trades higher on fund raising plan

Tata Steel is currently trading at Rs. 536.70, up by 4.60 points or 0.86% from its previous closing of Rs. 532.10 on the BSE.

The scrip opened at Rs. 535.00 and has touched a high and low of Rs. 538.80 and Rs. 532.05 respectively. So far 225470 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. 565.50 and Rs. 512.50 respectively. The current market cap of the company is Rs. 52154.27 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 will be seeking shareholder’s nod for raising up to Rs 14,000 crore through privately placed debt securities in domestic as well as international markets. Besides, the company would also be seeking approval for hiking the company's borrowing limit from Rs 50,000 crore to Rs 70,000 crore or the aggregate of the paid up capital and free reserves of the company, whichever is higher.

Yes Bank trades in fine fettle on bourses

Yes Bank is currently trading at Rs. 555.00, up by 3.15 points or 0.57% from its previous closing of Rs. 551.85 on the BSE.

The scrip opened at Rs. 552.00 and has touched a high and low of Rs. 558.55 and Rs. 546.85 respectively. So far 163923 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 588.00 on 16-May-2014 and a 52 week low of Rs. 216.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 569.50 and Rs. 508.10 respectively. The current market cap of the company is Rs. 23024.72 crore.

The promoters holding in the company stood at 22.23 % while Institutions and Non-Institutions held 65.65 % and 12.11 % respectively.

The bank reported a rise of 18.79% in its net profit at Rs 430.21 crore for the quarter ended March 31, 2014 as compared to Rs 362.15 crore for the same quarter in the previous year. Total income of the bank increased by 13% at Rs 3013.57 crore for quarter under review as compared to Rs 2667.03 crore for the quarter ended March 31, 2013.

L&T to sell its industrial plot, factory building.

Larsen and Toubro (L&T) is planning to sell its industrial plot, along with factory building including infrastructure in Nashik. In this regard the company has put industrial plot, factory on the block for a minimum bid of Rs 18 crore to Rs 25 crore.

The plot spread over 15,426 square metres in Ambad, MIDC in Nashik, has a built up area of 3,566 square metres, and functioned as a switchgear factory. The current market rate of the area around MIDC is about Rs 12,000 per square metre, valuing the plot at around Rs 18.5 crore.

The infrastructure company would be opening the sealed bids by July 12. Last month, the company also sold its stake in the Dhamra Port, to raise capital to the tune of Rs 5,500 crore.

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.

Godrej Consumer Products gains on rolling out personal care products

Godrej Consumer Products is currently trading at Rs. 818.75, up by 5.20 points or 0.64% from its previous closing of Rs. 813.55 on the BSE.

The scrip opened at Rs. 815.00 and has touched a high and low of Rs. 821.80 and Rs. 805.40 respectively. So far 2294 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 977.40 on 18-Jul-2013 and a 52 week low of Rs. 672.00 on 27-Jan-2014.

Last one week high and low of the scrip stood at Rs. 903.30 and Rs. 808.80 respectively. The current market cap of the company is Rs. 27876.98 crore.

The promoters holding in the company stood at 63.31% while Institutions and Non-Institutions held 30.18% and 6.51% respectively.

Godrej Consumer Products (GCPL) has rolled out new personal care products under its brand ‘Protek’, which includes three hand-washes, a hand sanitiser and a skin spray mosquito repellant.  With Protekt, the company plans to grab a 10% pie in the segment in the next 3-4 years. The company plans to line up more products in the category as it sees enormous potential in the next 3-4 years.

Godrej Consumer Products is a leader among India's Fast Moving Consumer Goods companies, with leading Household and Personal Care Products. Its brands include Good Knight, Cinthol, Godrej No. 1, Expert, Hit, Jet, Fairglow, Ezee, Protekt and Snuggy, among others, which are household names across the country.

Tata Steel to seek shareholders' nod for raising Rs 14,000 crore

Tata Steel will be seeking shareholder’s nod for raising up to Rs 14,000 crore through privately placed debt securities in domestic as well as international markets. Besides, the company would also be seeking approval for hiking the company's borrowing limit from Rs 50,000 crore to Rs 70,000 crore or the aggregate of the paid up capital and free reserves of the company, whichever is higher.

The company’s committee of board of directors at its meeting held on June 17, Tuesday, approved various proposals including raising of funds and increasing the borrowing limit.

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.

Copper futures move higher on Tuesday

Copper futures rose on Tuesday due to speculation that demand will stabilize in China as policy makers try to support growth in the world’s largest consumer of industrial metals. Further, shortfall in immediate supply too supported copper prices uptrend.

Copper futures for September delivery rose 0.38% to settle at $3.062 a pound on the Comex metals division of New York Mercantile Exchange. While copper on the London Metal Exchange advanced 0.21% to $ 6,705 a metric ton.

Gold futures edge lower on Fed Speculation

Gold futures edged lower on Tuesday after concerns over the volatile situation in Iraq somewhat eased with government forces able to push back militants to a certain extent. Further, the stronger dollar and the speculation that the Federal Reserve will further curb US monetary stimulus, reduced demand for the precious metal as an alternative investment too supported the downside.

Gold futures for August delivery settled down $4.80 to $1,270.50 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell $1.00 at $1,270.29 an ounce.

F&O total turnover stood at Rs 2,06,817.42 crore on June 17

Future & Option (F&O) total turnover stood at Rs 206,817.42 crore on June 17 and the total number of contracts traded on the day were 54,00,713.

Of the total turnover, Index Futures contributed Rs 16,566.87 crore, Stock Futures Rs 33,196.20 crore and Index Options Rs 1,42,861.40 crore, while the contribution of the Stock Options was of Rs 14,192.95 crore.

For the day, the total F&O PutCall ratio stood at 0.90, while Index Options PutCall ratio was 0.96 and that of Stock Options was 0.43.

The top five scrips with highest PCR on OI were Mcleod Russel India (1.49), TCS (1.09), Aurobindo Pharma (1.09), Maruti Suzuki (0.92) and BPCL (0.91).

Among most active underlying, State Bank of India witnessed an addition of 0.16 million of Open Interest in the June month futures contract, followed by Tata Steel witnessing an addition of 0.26 million of Open Interest in the June  month contract; while Reliance Industries witnessed an addition of 0.51 million of Open Interest in the June month futures contract, Reliance Capital witnessed an addition 1.04 million of Open Interest in the June month contract and Axis Bank witnessed contraction of 0.04 million  of Open Interest in the June month's future contract. 

SBI MF introduces Debt Fund Series A-33 (36 Months)

SBI Mutual Fund has launched the New Fund Offer (NFO) of SBI Debt Fund Series A-33 (36 Months), a close ended income scheme. The NFO opens for subscription on Jun 18, 2014 and closes on Jun 25, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against Crisil Short Term Bond Fund Index. and its fund manager is Rajeev Radhakrishnan.

The investment objective of the scheme is to provide regular returns and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

Rupee snaps two consecutive sessions of falls; ends strong on Tuesday

Indian rupee, recovering from the perilous ‘61/$’ level and snapping two consecutive sessions of fall, ended strong on Tuesday tailing smart recovery of local equity markets, while RBI’s intervention also aided rupee’s gains. RBI, in a bid to check rupee’s fall was spotted selling dollar via state run banks. Further, RBI governor’s assurance of country being prepared to deal with external shocks also bolstered sentiments. Earlier in the day, RBI Governor Raghuram Rajan said the country is watching the Iraq situation, but despite the uncertainty the domestic economy is better prepared to deal with any shocks on the external front. On the global front, dollar fluttered in a narrow range on Tuesday, caged by caution ahead of this week's U.S. Federal Reserve meeting and concern about the developing crisis in Iraq.

Finally, the rupee ended at 60.04, stronger by 12 paise from its previous close of 60.16 on Monday. The currency has touched a high and low of 60.51 and 59. 95 respectively.  The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.36 and for Euro stood at 81.86 on June 17, 2014. While, the RBI’s reference rate for the Yen stood at 59.21, the reference rate for the Great Britain Pound (GBP) stood at 102.4807. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

HDFC Bank opens seventeen rural mini-branches in Uttar Pradesh

HDFC Bank, the country’s second largest private sector lender, has opened 17 new rural branches in Uttar Pradesh. All these new branches are rural mini-branches serviced by 2 or 3 members and are located in unbanked areas. With these new branches, the bank now has a network of 284 branches across Uttar Pradesh.

A mini branch is one of the new-format branch models introduced by the Bank, to take formal banking services to people in unbanked and underbanked areas. It enhances the Bank’s efforts towards achieving its financial inclusion goal. The Bank has a board mandated objective to bring 10 million families (50 million Indians) into the banking fold.

HDFC Bank has reported a rise of 23.11% in its net profit at Rs 2326.52 crore for the quarter ended March 31, 2014 as compared to Rs 1889.84 crore for the same quarter in the previous year. Total income of the bank has increased by 14.94% at Rs 12789.98 crore for quarter under review as compared to Rs 11127.54 crore for the quarter ended March 31, 2013.

Gujarat Fluorochemicals surges as its subsidiary bags order worth Rs 900 crore

The scrip is currently trading at Rs. 452.00, up by 12.10 points or 2.75% from its previous closing of Rs. 439.90 on the BSE.

The scrip opened at Rs. 448.00 and has touched a high and low of Rs. 454.80 and Rs. 448.00 respectively. So far 710 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 474.25 on 12-Jun-2014 and a 52 week low of Rs. 190.00 on 22-Aug-2013.

Last one week high and low of the scrip stood at Rs. 474.25 and Rs. 433.20 respectively. The current market cap of the company is Rs. 4832.30 crore.

The promoters holding in the company stood at 70.03 % while Institutions and Non-Institutions held 3.63 % and 26.34 % respectively.

Gujarat Fluorochemicals’ subsidiary, Inox Wind, has bagged order worth Rs 900 crore order for 170 MW project in and around Ratlam and Mandsaur districts of Madhya Pradesh. The order for 85 units of Inox Wind's newly launched 2MW wind turbine with 100 meter rotor diameter has been awarded by Continuum Wind Energy, a Singapore based company, indirectly majority owned by Morgan Stanley Infrastructure Partners.

Gujarat Fluorochemicals, part of the $2 billion INOX group of companies, is engaged in manufacturing of chloro-fluorocarbon refrigerant gases and hydrous hydrofluoric acid. The INOX group has interests in areas of industrial gases, refrigerants, chemicals, carbon credits, cryogenic engineering, renewable energy and entertainment.

Idea Cellular strengthens on adding 11.60 lakh new mobile subscribers in May

The scrip is currently trading at Rs. 143.75, up by 2.70 points or 1.91% from its previous closing of Rs. 141.05 on the BSE.

The scrip opened at Rs. 141.70 and has touched a high and low of Rs. 144.50 and Rs. 141.25 respectively. So far 236349 shares were traded on the counter.

The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 188.35 on 15-Oct-2013 and a 52 week low of Rs. 125.10 on 28-Feb-2014.

Last one week high and low of the scrip stood at Rs. 148.55 and Rs. 134.40 respectively. The current market cap of the company is Rs. 50944.20 crore.

The promoters holding in the company stood at 42.91% while Institutions and Non-Institutions held 26.44% and 30.65% respectively.

Idea Cellular, one of the biggest cellular carrier of the country, has added 11.60 lakh new mobile subscribers in May, 2014. Following the addition, the company’s total subscriber count stood at 13.77 crore. The country’s third-largest operator has a market share of 18.79%.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

Yes Bank in collaboration with Austrade organizes a dairy delegation visit to Australia

Yes Bank, India’s fourth largest private sector Bank, in association with the Australian Trade Commission (Austrade), trade and investment promotion agency of the Australian Government, has organized a dairy delegation visit to Australia from June 16 to June 20, 2014. The visit is aimed to facilitate cooperation between India and Australia in the areas of Agri-Dairy business services, including Dairy Technology & Automation, Pasture & Grazing Management, Crop Soil & Water Management, Modern Dairy Farm Management, as well as milk processing & dairy products and education & training.

The bank reported a rise of 18.79% in its net profit at Rs 430.21 crore for the quarter ended March 31, 2014 as compared to Rs 362.15 crore for the same quarter in the previous year. Total income of the bank increased by 13% at Rs 3013.57 crore for quarter under review as compared to Rs 2667.03 crore for the quarter ended March 31, 2013.