Mentha oil futures edge higher on rising demand

Mentha oil futures edged higher on MCX as speculators enlarged their positions amid rising demand from consuming industries in the spot market. Besides, tight supplies in physical markets on restricted arrivals from producing belts too supported mentha oil prices’ uptrend.

The contract for October delivery was trading at Rs 675.90, up by 0.67% or Rs 4.50 from its previous closing of Rs 671.40. The open interest of the contract stood at 1730 lots.

The contract for November delivery was trading at Rs 686.70, up by 0.53% or Rs 3.60 from its previous closing of Rs 683.10. The open interest of the contract stood at 9181 lots on MCX.

Wipro gains on plan to expand its operations in Romania

Wipro is currently trading at Rs. 555.10, up by 1.00 points or 0.18% from its previous closing of Rs. 554.10 on the BSE.

The scrip opened at Rs. 556.50 and has touched a high and low of Rs. 560.00 and Rs. 555.00 respectively. So far 40854 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 621.50 on 07-Oct-2014 and a 52 week low of Rs. 465.40 on 27-Nov-2013.

Last one week high and low of the scrip stood at Rs. 585.90 and Rs. 548.00 respectively. The current market cap of the company is Rs. 137554.74 crore.

The promoters holding in the company stood at 73.43% while Institutions and Non-Institutions held 13.64% and 10.99% respectively.

Wipro is planning to expand its operations in Romania with the addition of about 150 employees by end of next calendar year. The company is planning to increase its employee strength in Romania by 25% to 750 employees by December 2015.

At present, the company’s facilities in Romania serve more than 20 customers in Eastern Europe, supported by over 600 employees. Wipro's customers in Romania span across sectors like retail and consumer goods, healthcare, manufacturing and telecom industries, among others.

Meanwhile, the company is in discussions with local universities to partner and develop curriculum for enhancing local capabilities.

Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.

Dr Reddy's Labs Q2 disappoints, net falls 17% to Rs 574 cr

Drug maker Dr Reddy's Laboratories ' second quarter consolidated net profit fell 16.8 percent to Rs 574 crore compared to Rs 690.2 crore in the year-ago period. Profit was slightly above estimates but topline and operational performance missed street expectations. Profit was expected at Rs 537 crore on revenue of Rs 3,702 crore (up 10.3 percent) for the quarter, according to the average of estimates of analysts polled by CNBC-TV18. Net sales grew by 6.9 percent to Rs 3,588 crore in the quarter ended September 2014 compared to Rs 3,357 crore in same quarter last year. Consolidated operating profit during the quarter declined 12.2 percent year-on-year to Rs 646.5 crore and margin dropped 400 basis points to 18 percent as against expectations of Rs 800 crore (up 8.8 percent) and 21.6 percent, respectively.

IDBI Bank firms up on raising $350 million from overseas bond sale

IDBI Bank is currently trading at Rs. 68.40, up by 0.15 points or 0.22 % from its previous closing of Rs. 68.25 on the BSE.

The scrip opened at Rs. 68.75 and has touched a high and low of Rs. 68.95 and Rs. 68.25 respectively. So far 55123 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 116.50 on 09-Jun-2014 and a 52 week low of Rs. 52.95 on 30-Jan-2014.

Last one week high and low of the scrip stood at Rs. 69.00 and Rs. 65.30 respectively. The current market cap of the company is Rs. 10971.06 crore.

The promoters holding in the company stood at 76.50 % while Institutions and Non-Institutions held 13.92 % and 9.58 % respectively.

State-run IDBI Bank has raised $350 million in an overseas bond sale highlighting pick-up in forex fund raising by domestic corporates.  The city-based lender raised $350 million in overseas senior unsecured notes through its Dubai branch. Global credit rating agency, Fitch has assigned the senior unsecured notes issue due April 2020 a final rating of ‘BBB-‘.

IDBI Bank is new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,217 branches and 2,101 ATMs.

Sensex adds over 150 pts, Nifty firm; Hero up 2%, HUL gains

The market has once again opened higher. The Nifty is inching closer to 8100, up 49.45 points at 8077.05.  The Sensex is up 172.73 points at 27053.55. About 471 shares have advanced, 85 shares declined, and 16 shares are unchanged. Hero, Tata Motors, HUL, M&M and ONGC are top gainers in the Sensex. Among the losers are Dr Reddy's Labs and TCS.
The Indian rupee opened marginally higher at 61.25 per dollar against 61.32 Tuesday.
Dollar was subdued as investors waited for the latest guidance from the Federal Reserve, while a surprisingly dovish message from Sweden's Central Bank saw the currency slump to four-year lows. 
In the US, stocks rose, with the Dow industrials extending gains into a fourth day and the S&P 500 and Nasdaq composite higher on the month, as investors embraced corporate earnings, a rise in consumer sentiment and anticipated the end of the Federal Reserve's bond buys. 
European stocks ended firmly in positive territory, regaining some of Monday's losses, as investors reacted to third-quarter earnings and prepared for a key monetary policy decision from the US.
In commodities, Brent crude prices were steady above USD 86 per barrel after industry data showed a rise in us crude inventories that was in line with expectations. From precious metals space, gold hovered near USD 1,230 an ounce, clinging to gains from the previous session.