Monday, 29 December 2014

Nifty below 8,250 levels

At 3:09PM, the S&P BSE Sensex is trading at 27,403 up 161 points, while NSE Nifty is trading at 8,244 up 44 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.

Auto, Consumer Durables, Power, Banking, Capital goods, FMCG, Oil and gas, Healthcare, Metal, Realty indices are the gainers.

Hindalco, Tata Motors, Tata Steel, ONGC, GAIL, BHEL, Bajaj Auto, L&T, HUL, Hero Motocorp are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE.

Finance Minister Arun Jaitley has said that immediate challenges before the Government is to increase the growth rate as it will boost both the economic activities and the revenue collections. A Make in India seminar in Delhi today being attended by Prime Minister Narendra Modi, will also see some noises on what states can do.

The outlook is a positive start. Oil is moving higher. Asian indices are mostly positive. Japan's Nikkei is up 0.40% while Hong Kong's Hang Seng index has gained over 2%. China's Shanghai index is also close to 2% higher.

Algeria's oil minister has called on OPEC to cut production and raise the price of oil, says a report. Meanwhile, Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, a report stated

Members of Greece’s parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state.

The Dabhol power project’s management, its promoters NTPC and the Maharashtra state government are opposing the plan of lenders and the central government to sell the plant’s liquefied natural gas (LNG) terminal to pare its 8,500 crore debt. NTPC and GAILIndia own 32.74% each of Ratnagiri Gas and Power (RGPPL), while the Maharashtra State Electricity Board has a16.94% stake. ICICI Bank, IDBI Bank, State Bank of India (SBI) and Canara Bank collectively hold 18.12%, a report stated.

Petronet LNG could be in action as it is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is reportedly set to out-license its molecule for pain management. Lupin is reportedly looking at acquisitions in various global markets.

Reliance Capital will consider giving up to 10 % stake to its newly-signed strategic partner Sumitomo Mitsui Trust Bank of Japan in its proposed bank, a report stated.

Companies headed for an initial public offering (IPO) will have more legroom to sell shares to foreign investors, according to a report.

The disappearance of the AirAsia flight between Indonesia and Singapore on Sunday will have a major impact on perception and demand for the carrier globally, including in India, said executives at travel companies and airlines.

Shares of RPP Infra Projects was up 1% at Rs125 after company bagged new order worth Rs. 483.79 million from Tamilnadu Water Supply & Drainage Board for Providing Water Supply Improvement Scheme to Tindivanam Municipality in Villupuram District, Tamilnadu.

Shares of Cairn India was up 1% at Rs244 after report said that the company along with its joint venture partner,ONGC has put forward a $700-million plan to develop and produce gas reserves at the Raageshwari fields in the prolific Barmer block in Rajasthan.

SpiceJet clarified some misleading media reports regarding a decision to allegedly “Sack 50 Captains”. SpiceJet places on record that the 43 (not 50) pilots in question are those that have previously resigned from the company, and have already served at least three months of notice period.

The Narendra Modi government is planning to unleash several big-ticket announcements over the next few weeks, according to reports.Report stated that the government may begin with changes in the land acquisition law through an ordinance, setting the stage for the budget that will be unveiled at the end of February by finance minister Arun Jaitley.

L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen & Toubro, has bagged an offshore contract valued at Rs. 894 crores from the Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project.At 9.35 AM, the stock was up 0.90% at Rs. 1,503.40.

Glenmark Pharmaceuticals is planning to out-license its molecule for pain management, according to reports.The stock was up 1% at Rs788.

Shares of Tata Steel was up 3% at Rs408 after company announced the recent developments in mining operations.

Reliance Industries Ltd. (RIL) has scheduled a planned turnaround at its Nagothane manufacturing site. The cracker and some of the downstream units will be shut for approximately four weeks, starting around mid-January 2015.

According to reports, India Ratings said that Inflation in FY15 better than FY14. The 5.5% growth in H1 2014 has been positive.The growth has improved and inflation has come down, according to India Ratings.

Aban Offshore soared to a high of Rs. 457 in early morning trade on reports that the company's credit rating has been upgraded.

As per media reports, Bharti Airtel, country's largest telecom service provider, Bharti Airtel would not implement the proposed launch of VoIP packs.

The report added that the move against the hike in prices of VoIP was taken in view of the Telecom Regulatory Authority of India (Trai) issuing a consultation paper on over-the-top (OTT) players, including VoIP. However, Trai is yet to officially start the consultation process.

Govt is looking at divestment in CONCOR, Dredging Corp, National Fert, NMDC, RCF, NALCO, STC, MMTC, MOIL in FY16, according to reports.Report stated that the company has identified 9 companies for divestment in FY16.

Lupin Ltd clarified that the Company actively explores opportunities for organic and inorganic growth including acquisition. Earlier report said that Lupin was eyeing acquisitions in global market in US, Latin America and Europe.



Sensex, Nifty trade firm

The market continues to on a positive note in noon deals. As of 1425 hrs, the BSE Sensex is up 179 points at 27,421 and the NSE Nifty is up 58 points at 8,258.

The broader markets are still out-performing the NSE Nifty, the CNX Mid-cap, Small-cap and Nifty Junior indices have advanced almost a per cent each at 12,420, 5,166 and 18,373, respectively.

All sectors indices are in green, except, the CNX PSU Bank index down 0.2 per cent at 4,220.

The Metal index continues to trade on a firm note - with a surge of 2.5 per cent at 2,680. The Auto and Energy indices have spurted over a per cent each at 8,303 and 8,688, respectively.

The FMCG, Pharma and IT indices are the other prominent gainers.

Among Metal shares, Sesa Sterlite has soared almost 4 per cent at Rs. 215. SAIL and Hindalco have surged over 3 per cent each at Rs. 83.55 and Rs. 157, respectively.

JSW Steel has jumped around 3 percent at Rs. 1,075. Jindal Steel and Coal India have spurted over 2 per cent each at Rs. 152 and Rs. 387, respectively.

Tata Steel, National Aluminium and Jindal Saw have rallied over 1.5 per cent each at Rs. 405, Rs. 54.15 and Rs. 92.80, respectively.

Gujarat Mineral, Hindustan Copper, Bhushan Steel and Orissa Minerals are the other notable gainers.

On the other hand, NMDC has bucked the trend, and has declined over 0.5 per cent at Rs. 143.


Govt to take more steps to facilitate ‘Make in India’ Initiative

Government will undertake more steps to facilitate ease of doing business as part of the ‘Make in India’ initiative. Inaugurating the one-day National Workshop on Sectoral Perspectives & initiatives: Creating an enabling framework for stimulating investments for Make in India, Finance Minister Shri Arun Jaitley said that number of steps have been taken in the past seven months to facilitate an investor friendly climate in the country.

However, manufacturing still remains a challenge. Stressing on the need for manufacturing growth to ensure employment for youth of the country, the Finance Minister underlined several initiatives to facilitate ease of doing business in the country. “Entry point has to be eased, initial barriers lowered and removed, and after entry, enabling environment has to be created.” The Finance Minister stressed on the need for streamlining the dispute resolution mechanism. Noting that availability of lands for manufacturing has to undergo a complex procedure, Shri Jaitley talked of the plan to remove such bottlenecks and to ensure that “our regime is competitive.”

The Minister of State (Independent Charge) for Commerce & Industry Smt. Nirmala Sitharaman termed the National Workshop as an unique initiative. “Nothing of this scale has been attempted in the recent memory. This National Workshop is aimed at getting industry and government on the same platform.” Smt. Sitharaman said that discussions would be held on the results of the recent initiatives and also for the new initiatives that need to be undertaken to strengthen the ‘Make in India’ initiatives. The Minister said that both Department of Industrial Policy & Promotion and Department of Commerce have taken concrete steps for cutting red tape, simplifying rules and delicensing the business environment.

Eighteen sessions are being held as part of the one-day workshop in which 25 Ministries under the Government of India and all the States have come together to converge and integrate in a professional manner to chart a roadmap for short and medium term to make ‘Make in India’ initiative a grand success.

United Spirits surges after block deal

United Spirits has moved from strength-to-strength and rallied to a high of Rs. 2,809 on the NSE, after new block deal of 50,000 shares were executed in the counter on NSE at Rs. 2,795 per equity share.

The share price of United Spirits is now up 2.7 per cent at Rs. 2,800 on the NSE.

Earlier in the day, the stock started the day at Rs. 2,750.

Meanwhile, the BSE Sensex is up over 200 points at 27,453 and the NSE Nifty has added 61 points at 8,261.

Sensex rallies 200 points...Nifty above 8250 levels

At 11:17AM, the S&P BSE Sensex is trading at 27,446 up 204 points, while NSE Nifty is trading at 8,261 up 60 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.

Auto, Consumer Durables, Power, Banking, Capital goods, FMCG, Oil and gas, PSU, Healthcare, Metal, Realty indices are the gainers.

Hindalco, Tata Motors, Tata Steel, ONGC, GAIL, BHEL, Bajaj Auto, L&T, HUL, Hero Motocorp are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE.

Finance Minister Arun Jaitley has said that immediate challenges before the Government is to increase the growth rate as it will boost both the economic activities and the revenue collections. A Make in India seminar in Delhi today being attended by Prime Minister Narendra Modi, will also see some noises on what states can do.

The outlook is a positive start. Oil is moving higher. Asian indices are mostly positive. Japan's Nikkei is up 0.40% while Hong Kong's Hang Seng index has gained over 2%. China's Shanghai index is also close to 2% higher.

Algeria's oil minister has called on OPEC to cut production and raise the price of oil, says a report. Meanwhile, Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, a report stated

Members of Greece’s parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state.

The Dabhol power project’s management, its promoters NTPC and the Maharashtra state government are opposing the plan of lenders and the central government to sell the plant’s liquefied natural gas (LNG) terminal to pare its 8,500 crore debt. NTPC and GAILIndia own 32.74% each of Ratnagiri Gas and Power (RGPPL), while the Maharashtra State Electricity Board has a16.94% stake. ICICI Bank, IDBI Bank, State Bank of India (SBI) and Canara Bank collectively hold 18.12%, a report stated.

Petronet LNG could be in action as it is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is reportedly set to out-license its molecule for pain management. Lupin is reportedly looking at acquisitions in various global markets.

Reliance Capital will consider giving up to 10 % stake to its newly-signed strategic partner Sumitomo Mitsui Trust Bank of Japan in its proposed bank, a report stated.

Companies headed for an initial public offering (IPO) will have more legroom to sell shares to foreign investors, according to a report.

The disappearance of the AirAsia flight between Indonesia and Singapore on Sunday will have a major impact on perception and demand for the carrier globally, including in India, said executives at travel companies and airlines.

Shares of RPP Infra Projects was up 1% at Rs125 after company bagged new order worth Rs. 483.79 million from Tamilnadu Water Supply & Drainage Board for Providing Water Supply Improvement Scheme to Tindivanam Municipality in Villupuram District, Tamilnadu.

Shares of Cairn India was up 1% at Rs244 after report said that the company along with its joint venture partner,ONGC has put forward a $700-million plan to develop and produce gas reserves at the Raageshwari fields in the prolific Barmer block in Rajasthan.

SpiceJet clarified some misleading media reports regarding a decision to allegedly “Sack 50 Captains”. SpiceJet places on record that the 43 (not 50) pilots in question are those that have previously resigned from the company, and have already served at least three months of notice period.

The Narendra Modi government is planning to unleash several big-ticket announcements over the next few weeks, according to reports.Report stated that the government may begin with changes in the land acquisition law through an ordinance, setting the stage for the budget that will be unveiled at the end of February by finance minister Arun Jaitley.

L&T Hydrocarbon Engineering (LTHE), a fully owned subsidiary of Larsen & Toubro, has bagged an offshore contract valued at Rs. 894 crores from the Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project.At 9.35 AM, the stock was up 0.90% at Rs. 1,503.40.

Glenmark Pharmaceuticals is planning to out-license its molecule for pain management, according to reports.The stock was up 1% at Rs788.

Shares of Tata Steel was up 3% at Rs408 after company announced the recent developments in mining operations.

Nifty above 8,250 levels

At 10:15AM, the S&P BSE Sensex is trading at 27,477 up 236 points, while NSE Nifty is trading at 8,268 up 67 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.

Auto, Consumer Durables, Power, Banking, capital goods, FMCG, Oil and gas, Healthcare, Metal, Realty indices are gainers.

Hindalco, Tata Motors, Tata Steel, ONGC, GAIL, BHEL, Bajaj Auto, L&T, HUL, Hero Motocorp are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE.

Finance Minister Arun Jaitley has said that immediate challenges before the Government is to increase the growth rate as it will boost both the economic activities and the revenue collections. A Make in India seminar in Delhi today being attended by Prime Minister Narendra Modi, will also see some noises on what states can do.

The outlook is a positive start. Oil is moving higher. Asian indices are mostly positive. Japan's Nikkei is up 0.40% while Hong Kong's Hang Seng index has gained over 2%. China's Shanghai index is also close to 2% higher.

Algeria's oil minister has called on OPEC to cut production and raise the price of oil, says a report. Meanwhile, Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, a report stated

Members of Greece’s parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state.

The Dabhol power project’s management, its promoters NTPC and the Maharashtra state government are opposing the plan of lenders and the central government to sell the plant’s liquefied natural gas (LNG) terminal to pare its 8,500 crore debt. NTPC and GAILIndia own 32.74% each of Ratnagiri Gas and Power (RGPPL), while the Maharashtra State Electricity Board has a16.94% stake. ICICI Bank, IDBI Bank, State Bank of India (SBI) and Canara Bank collectively hold 18.12%, a report stated.

Petronet LNG could be in action as it is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is reportedly set to out-license its molecule for pain management. Lupin is reportedly looking at acquisitions in various global markets.

Reliance Capital will consider giving up to 10 % stake to its newly-signed strategic partner Sumitomo Mitsui Trust Bank of Japan in its proposed bank, a report stated.

Companies headed for an initial public offering (IPO) will have more legroom to sell shares to foreign investors, according to a report.

The disappearance of the AirAsia flight between Indonesia and Singapore on Sunday will have a major impact on perception and demand for the carrier globally, including in India, said executives at travel companies and airlines.

Shares of RPP Infra Projects was up 1% at Rs125 after company bagged new order worth Rs. 483.79 million from Tamilnadu Water Supply & Drainage Board for Providing Water Supply Improvement Scheme to Tindivanam Municipality in Villupuram District, Tamilnadu.

Shares of Cairn India was up 1% at Rs244 after report said that the company along with its joint venture partner,ONGC has put forward a $700-million plan to develop and produce gas reserves at the Raageshwari fields in the prolific Barmer block in Rajasthan.

HDIL clarifies reports...stock up 5%

With reference to the earlier letter dated December 03, 2014 whereby the Company had intimated that an F.I.R. was filed against Government Officials, SRA Officials, the Company and its Directors with regard to a Project approved under SRA Scheme in Motilal Nehru Nagar, Bandra (East) in the year 2005-06.

In furtherance to the said matter, Housing Development and Infrastructure Ltd has announced that filing of F.I.R. was challenged in Bombay High Court and a writ petition has been filed and learned Court has granted ad-Interim relief and pending final disposal of the writ petition, the Hon’ble High Court have granted stay on the execution, operation and implementation of the impugned order dated November 05, 2014 passed by the Session Court and stayed the effect, execution, operation, implementation of the impugned FIR registered on December 02, 2014 for offences alleged u/s 13(1)(d) of the Prevention of Corruption Act, registered with Anti Corruption Bureau, Mumbai.

The Company will update the Stock Exchanges with any further developments in the said matter.

The stock has hit 5% upper circuit at Rs71. The stock has hit a high of Rs71 and a low of Rs67.

Top economy news of the day – December 29, 2014

Consumer durables industry wants government to extend the reduced excise duty beyond December 31.

Government may offer surplus PSU land for New Infra Projects.

Government has approved a clutch of investment proposals worth about Rs 6,000 crore in the past six months under electronics manufacturing schemes.

77% patents in Indian pharma sector granted to foreign companies. This clearly indicates that the Indian patent regime is non-discriminatory and strong, sources said.

Top corporate news of the day – December 29, 2014

NTPC and Maharashtra government oppose plan of lenders and the central government to sell the plant's LNG terminal.

Lupin eyes acquisitions in various global markets, including the US, Latin America and Europe, as it looks to bolster its presence overseas.

BHEL is looking for business opportunities in Mozambique and Laos.

Petronet LNG is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is set to out-license its molecule for pain management.

IOC is well positioned to bag the Rs.2,800-crore Ennore-Tuticorin LNG pipeline project.

NMDC plans to set up a 139-km-long slurry pipeline to carry iron ore from Bailadila mines for its proposed 3 million tonnes per annum steel plant in Nagarnar, with an estimated cost of Rs. 800 crore.

Elder Health Care Ltd, said it is in talks with a Japanese MNC to introduce its products under the skin care segment into the country.

Sensex surges 200 points...Auto, Bankex lead

At 9:17AM, the S&P BSE Sensex is trading at 27,485 up 243 points, while NSE Nifty is trading at 8,250 up 49 points.

The BSE Mid-cap Index and BSE Small-cap Index was trading flat.

Auto, Consumer Durables, Power, Banking, Capital goods, FMCG, Oil and gas, Healthcare, Metal, Realty indices are gainers.

Finance Minister Arun Jaitley has said that immediate challenges before the Government is to increase the growth rate as it will boost both the economic activities and the revenue collections. A Make in India seminar in Delhi today being attended by Prime Minister Narendra Modi, will also see some noises on what states can do.

The outlook is a positive start. Oil is moving higher. Asian indices are mostly positive. Japan's Nikkei is up 0.40% while Hong Kong's Hang Seng index has gained over 2%. China's Shanghai index is also close to 2% higher.

Algeria's oil minister has called on OPEC to cut production and raise the price of oil, says a report. Meanwhile, Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, a report stated

Members of Greece’s parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state.

The Dabhol power project’s management, its promoters NTPC and the Maharashtra state government are opposing the plan of lenders and the central government to sell the plant’s liquefied natural gas (LNG) terminal to pare its 8,500 crore debt. NTPC and GAILIndia own 32.74% each of Ratnagiri Gas and Power (RGPPL), while the Maharashtra State Electricity Board has a16.94% stake. ICICI Bank, IDBI Bank, State Bank of India (SBI) and Canara Bank collectively hold 18.12%, a report stated.

Petronet LNG could be in action as it is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is reportedly set to out-license its molecule for pain management. Lupin is reportedly looking at acquisitions in various global markets.

Reliance Capital will consider giving up to 10 % stake to its newly-signed strategic partner Sumitomo Mitsui Trust Bank of Japan in its proposed bank, a report stated.

Companies headed for an initial public offering (IPO) will have more legroom to sell shares to foreign investors, according to a report.

The disappearance of the AirAsia flight between Indonesia and Singapore on Sunday will have a major impact on perception and demand for the carrier globally, including in India, said executives at travel companies and airlines.

Petronet LNG Ltd, is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Sensex to open on a positive note

As the year draws to a close and most people may be in holiday mood. But a lot of action is expected from the government which is set to unleash several big-ticket announcements over the next few weeks, says a report; changes in land acquisition law through an ordinance is among them. The government is eyeing nearly 18 lakh acres of land available with various state-run companies, to quickly get manufacturing and infrastructure projects off the ground, says a report.

Finance Minister Arun Jaitley has said that immediate challenges before the Government is to increase the growth rate as it will boost both the economic activities and the revenue collections. A Make in India seminar in Delhi today being attended by Prime Minister Narendra Modi, will also see some noises on what states can do.

The outlook is a positive start. Oil is moving higher. Asian indices are mostly positive. Japan's Nikkei is up 0.40% while Hong Kong's Hang Seng index has gained over 2%. China's Shanghai index is also close to 2% higher.

Algeria's oil minister has called on OPEC to cut production and raise the price of oil, says a report. Meanwhile, Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, a report stated

Members of Greece’s parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state.

The Dabhol power project’s management, its promoters NTPC and the Maharashtra state government are opposing the plan of lenders and the central government to sell the plant’s liquefied natural gas (LNG) terminal to pare its 8,500 crore debt. NTPC and GAILIndia own 32.74% each of Ratnagiri Gas and Power (RGPPL), while the Maharashtra State Electricity Board has a16.94% stake. ICICI Bank, IDBI Bank, State Bank of India (SBI) and Canara Bank collectively hold 18.12%, a report stated.

Petronet LNG could be in action as it is among five global energy firms that have been shortlisted for setting up an LNG import terminal in Bangladesh.

Glenmark Pharmaceuticals is reportedly set to out-license its molecule for pain management. Lupin is reportedly looking at acquisitions in various global markets.

Reliance Capital will consider giving up to 10 % stake to its newly-signed strategic partner Sumitomo Mitsui Trust Bank of Japan in its proposed bank, a report stated.

Companies headed for an initial public offering (IPO) will have more legroom to sell shares to foreign investors, according to a report.

The disappearance of the AirAsia flight between Indonesia and Singapore on Sunday will have a major impact on perception and demand for the carrier globally, including in India, said executives at travel companies and airlines.