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. 

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.