NCC seeks Sebi nod to raise Rs 600 cr from rights issue

NCC would issue equity shares for an aggregate amount "not exceeding" Rs 600 crore to existing shareholders, says a draft letter filed by the company with Securities and Exchange Board of India (Sebi).

Infrastructure firm  NCC  Ltd has sought market regulator Sebi's clearance to raise up to Rs 600 crore through a rights issue. NCC would issue equity shares for an aggregate amount "not exceeding" Rs 600 crore to existing shareholders, says a draft letter filed by the company with Securities and Exchange Board of India (Sebi).

 In a rights issue, shares are issued to existing investors as per their holding at a pre-determined price and ratio. The Hyderabad-based firm would use the proceeds from the issue towards repayment/pre-payment of certain loans availed by it and for general corporate purposes. ICICI Securities and SBI Capital Markets are lead managers to the issue while Karvy Computershare would act as the registrar to the issue.

NCC is involved in development of infrastructure in various fields such as building and housing, water and environment, transportation and irrigation. Internationally, the company has undertaken projects in Oman, UAE, Sri Lanka, Nepal and Qatar, the draft offer document said. The company had a total consolidated income of Rs 7,568 crore in FY'14, it added.

Coal India reports 34.54 million tonnes of production in June 2014

Coal India, the world’s largest coal miner by output, has reported provisional production of 34.54 million tonnes in June 2014, as against target of 36.84 million tonnes. The company’s total off-take for the month of June stood at 38.29 million tonnes as against a target of 42.01 million tonnes.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

Indian rupee opens flat at 60.06 per dollar

Weak trend in the dollar index may keep dollar under pressure against a stronger rupee. Range for the day is seen between 59.88-60.25/dollar, says Himanshu Arora of Religare.

The Indian rupee opened flat at 60.06 per dollar versus 60.07 Tuesday. The dollar index inched up to 79.82 mark from a two-month low while against the yen, the greenback edged up to 101.54 from Tuesday's low. USD-INR pair is expected to trade lower today as dollar inflows into the country may continue supporting the rupee. Also long list of expectations from Union Budget may keep rupee underpinned. Along with that, weak trend in the dollar index may keep dollar under pressure against a stronger rupee. Range for the day is seen between 59.88-60.25/dollar.

BSE Sensex hits all-time high, Nifty nears 7700; Infra up

All the sectoral indices are in green. BSE Capital goods is up 1.2%, Realty Index increased 1.58% and Power Index is trading up 1.16%.

BSE Sensex is trading up 205 points at 25,721, while S&P Nifty is trading up 58 points at 7,693. 

BSE Mid-cap is up 0.78% at 9,507, while BSE Small-cap is up 0.82% at 10,406.

All the sectoral indices are in green. BSE Capital goods is up 1.2%, Realty Index increased 1.58% and Power Index is trading up 1.16%.

SSLT, Sun Pharma, L&T, ICICI Bank, Hero MotoCorp, Tata Steel and BHEL are among the gainers, whereas Tata Motors, M&M and Maruti Suzuki are losing sheen on BSE. 

The manufacturing sector reported a growth of 5% in the January-March 2014 quarter as against 4.8% in the October-December 2013 quarter, according to RBI (Reserve Bank of India) data. 

The services (non-IT) sector declined 1.5% in the October-December 2013 quarter but grew 2.8% in January-March,

The IT sector saw an improvement of 2.2% in the January-March 2014 quarter compared to the previous period.