State Bank of India (SBI) has rallied to the third straight day on the BSE, on reports that the back is looking to raised Rs 15,000 crore as additional capital of the company to fulfill the RBI laid Basel III norms. The stock extended gains in the mid-noon deal to hit four-year high at Rs. 336 on the BSE. Now, State Bank of India is up over a per cent at Rs. 334 and has seen trades of around 1.2 million shares as against the two-week daily moving average of 2.1 million shares on the BSE. Meanwhile, the BSE Sensex has dropped over 91 points at 29,480.
Wednesday 28 January 2015
Top corporate news of the day - January 28, 2015
Maruti Suzuki aims to dedicate up to 100,000-unit production capacity at its Gurgaon plant to produce its new light commercial vehicle (LCV). Likely to be called the ‘Super Carry’, the LCV will be launched in the April-June quarter.
Andhra Pradesh government is actively considering a request made by Divis Laboratories Limited for the allotment of 500 acres of land-identified near Kakinada-to set up a green-field project for making Active Pharmaceutical Ingredients (APIs) and drug intermediates.
Bharti Airtel signed a deal with Nokia Networks to launch high-speed 4G services in six more telecom circles, comprising 11 states, starting from December this year.
Tata Motors informed that it will seek approval from the shareholders for raising funds upto Rs75bn through a right issue.
Max India Ltd said its board had approved splitting the company into three different entities to streamline the business structure and sharpen focus.
Ranbaxy said that the US health regulator has "determined" that the Indian drug manufacturer has forfeited its 180 days exclusivity for stomach and esophagus problems treatment tablets.
L&T’s proposed sale of its iron manufacturing unit in Coimbatore to Australian firm Bradken has got the approval from Competition Commission of India.
Volkswagen Group India launched its first engine plant in the country which will assemble 1.5—litre diesel engines for two VW models as well as for the group arm Skoda’s Rapid sedan.
Yes Bank signed a pact with OPIC, an arm of the US government's development finance institution, for US$220mn loan for on-lending to micro, small and medium enterprises.
Gati Ltd has received the board approval to raise up to Rs1.2bn through issue of securities to Indian or foreign investors.
TAFE Motors and Tractors Limited (TMTL), a wholly owned subsidiary of TAFE, has launched its 5/7.5 kVA Diesel Generators (DG) to consolidate its position in the lower horse power (hp) range.
Andhra Pradesh government is actively considering a request made by Divis Laboratories Limited for the allotment of 500 acres of land-identified near Kakinada-to set up a green-field project for making Active Pharmaceutical Ingredients (APIs) and drug intermediates.
Bharti Airtel signed a deal with Nokia Networks to launch high-speed 4G services in six more telecom circles, comprising 11 states, starting from December this year.
Tata Motors informed that it will seek approval from the shareholders for raising funds upto Rs75bn through a right issue.
Max India Ltd said its board had approved splitting the company into three different entities to streamline the business structure and sharpen focus.
Ranbaxy said that the US health regulator has "determined" that the Indian drug manufacturer has forfeited its 180 days exclusivity for stomach and esophagus problems treatment tablets.
L&T’s proposed sale of its iron manufacturing unit in Coimbatore to Australian firm Bradken has got the approval from Competition Commission of India.
Volkswagen Group India launched its first engine plant in the country which will assemble 1.5—litre diesel engines for two VW models as well as for the group arm Skoda’s Rapid sedan.
Yes Bank signed a pact with OPIC, an arm of the US government's development finance institution, for US$220mn loan for on-lending to micro, small and medium enterprises.
Gati Ltd has received the board approval to raise up to Rs1.2bn through issue of securities to Indian or foreign investors.
TAFE Motors and Tractors Limited (TMTL), a wholly owned subsidiary of TAFE, has launched its 5/7.5 kVA Diesel Generators (DG) to consolidate its position in the lower horse power (hp) range.
Sensex bounces back into positive level
At 11:18AM, the S&P BSE Sensex is trading at 29,661 up 92 points, while NSE Nifty is trading at 8,930 up 20 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Consumer Durables, Teck, IT, healthcare, Realty, Power, FMCG, Oil and gas, banking,Auto indices are the gainers, while Metal, capital goods indices are the losers.
Ranbaxy, Asian Paints, Siemens, Bharat Forge, GMR Infra, Sun Pharma are among the gainers, whereas Tata Motors, Tata Steel, L&T, HDFC Bank, BHEL are losing sheen on BSE.
With the government confident of meeting fiscal targets and providing a new-look budget, any correction in the market could well be temporary unless global factors start to dominate.
With ECB and Greece behind us, the focus now will be on what the Federal Reserve has to say today. The surprise dip in consumer durables numbers spooked Wall Street and a selloff in Microsoft shares after disappointing results kept the sentiment low. Other corporate results also disappointed. Data showed US Business investment plans were also down in December.
A number of results are on tap and individual stocks will move accordingly. The Dow dropped 1.65% while the S&P 500 slipped 1.34%. The Nasdaq saw a fall of close to 2%. Asian markets are also mimicking the weakness. Japan's Nikkei 225 is down around 1.5% while Hong Kong's Hang Seng is marginally down. China's Shanghai index is trading flat for now.
State Bank of India said its committee of directors on capital has permitted it to raise up to Rs 15,000 crore in a share sale.
Cabinet is planning to discuss 5% stake sale proposal in BHEL this week, according to reports. Report said that Fin Min will decide on price, timing of BHEL stake sale.
SpiceJet, the airline that made flying more affordable for more Indians than ever before in 2014, today announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in.
This offer is open for bookings made from January 28 to January 30, and is for travel between February 15 and June 30, 2015, and is applicable on all direct flights on SpiceJet's domestic network. The offer available on first come first served basis, and seats per flight are limited.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Consumer Durables, Teck, IT, healthcare, Realty, Power, FMCG, Oil and gas, banking,Auto indices are the gainers, while Metal, capital goods indices are the losers.
Ranbaxy, Asian Paints, Siemens, Bharat Forge, GMR Infra, Sun Pharma are among the gainers, whereas Tata Motors, Tata Steel, L&T, HDFC Bank, BHEL are losing sheen on BSE.
With the government confident of meeting fiscal targets and providing a new-look budget, any correction in the market could well be temporary unless global factors start to dominate.
With ECB and Greece behind us, the focus now will be on what the Federal Reserve has to say today. The surprise dip in consumer durables numbers spooked Wall Street and a selloff in Microsoft shares after disappointing results kept the sentiment low. Other corporate results also disappointed. Data showed US Business investment plans were also down in December.
A number of results are on tap and individual stocks will move accordingly. The Dow dropped 1.65% while the S&P 500 slipped 1.34%. The Nasdaq saw a fall of close to 2%. Asian markets are also mimicking the weakness. Japan's Nikkei 225 is down around 1.5% while Hong Kong's Hang Seng is marginally down. China's Shanghai index is trading flat for now.
State Bank of India said its committee of directors on capital has permitted it to raise up to Rs 15,000 crore in a share sale.
Cabinet is planning to discuss 5% stake sale proposal in BHEL this week, according to reports. Report said that Fin Min will decide on price, timing of BHEL stake sale.
SpiceJet, the airline that made flying more affordable for more Indians than ever before in 2014, today announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in.
This offer is open for bookings made from January 28 to January 30, and is for travel between February 15 and June 30, 2015, and is applicable on all direct flights on SpiceJet's domestic network. The offer available on first come first served basis, and seats per flight are limited.
Nifty above 8900 levels
The market continues to trade on a negative note, owing to weak global markets and ahead of F&O expiry tomorrow. As of 1035, the BSE Sensex is down 39 points at 29,532 and the NSE Nifty is now quoted at 8,907 - down 4 points. The broader indices are still out-performing the CNX Nifty index, the Smallcap, Midcap and Nifty Junior indices have gained 0.6-0.4 per cent each at 5,527, 13,211 and 19,663, respectively. The India VIX (Volatility) index has soared over 3.5 per cent at 18.7500. Among sectors, the CNX Metal and Infra indices have declined 0.3 per cent each at 2,575 and 3,332, respectively. The Auto and FMCG indices are marginally down. On the other hand, the IT and Pharma indices have gained 0.5 per cent each at 11,749 and 11,636, respectively. The breadth is slightly negative in morning deals - out of 1,730 stocks so far traded on the NSE 742 stocks are declining, while 657 stocks are advancing. Bharti Airtel is the top loser in the Nifty-50 stocks; the stock has slipped around 3 per cent to Rs. 383. Tata Motors has tumbled over 2 per cent at Rs. 592. Jindal Steel, Cairn India, Cipla, Sesa Sterlite, Tata Steel and Gail India are the other significant losers. On the other hand, Asian Paint has surged over 3 per cent at Rs. 911. HCL Technologies and Tech Mahindra jumped nearly 2 per cent each at Rs. 1,646 and Rs. 2,865, respectively. BPCL, IDFC, TCS, Maruti Suzuki and Sun Pharma are the other prominent gainers.
Paint shares continue to sparkle
Shares of paints related industries continue to shine on the Street on the back of lower crude oil prices. Crude oil derivatives are used as raw materials for manufacturing paints. Given the fact that Crude Oil prices have corrected over 55 per cent in the last six months, and are now hovering below the $ 50-mark for the better-part of this month, the paint companies are likely to benefit smartly from the lower raw materials cost price. Asian Paints has soared to a fresh all-time high of Rs. 913, and is now up 2.2 per cent at Rs. 910. The stock has gained over 21 per cent so far this month. Akzo Nobel India has rallied over 3 per cent to a fresh summit at Rs. 1,495. The stock is up nearly 8 per cent this month. Berger Paints has surged nearly 5 per cent to Rs. 237, and has rallied nearly 18 per cent so far this month. Shalimar Paints has added 1.7 per cent to Rs. 165, and has gained 8.5 per cent this month. Kansai Nerolac is the major gainer among the peers this month, up sharply by almost 25 per cent so far this month. Today the stock is up 1.5 per cent at Rs. 2,479. Meanwhile, the Sensex is down 35 points at 29,536.
Sensex opens on a weak note
The S&P BSE Sensex is trading at 29,524 down 46 points, while NSE Nifty is trading at 8,905 down 5 points.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Consumer Durables, Teck, IT, healthcare indices are the gainers, while Realty Power, banking, Metals, Auto, capital goods, FMCG, Oil and gas indices are the losers.
Ranbaxy, Asian Paints, Siemens, Bharat Forge, GMR Infra, Sun Pharma are among the gainers, whereas Tata Motors, Tata Steel, L&T, HDFC Bank, BHEL are losing sheen on BSE.
With the government confident of meeting fiscal targets and providing a new-look budget, any correction in the market could well be temporary unless global factors start to dominate.
With ECB and Greece behind us, the focus now will be on what the Federal Reserve has to say today. The surprise dip in consumer durables numbers spooked Wall Street and a selloff in Microsoft shares after disappointing results kept the sentiment low. Other corporate results also disappointed. Data showed US Business investment plans were also down in December.
A number of results are on tap and individual stocks will move accordingly. The Dow dropped 1.65% while the S&P 500 slipped 1.34%. The Nasdaq saw a fall of close to 2%. Asian markets are also mimicking the weakness. Japan's Nikkei 225 is down around 1.5% while Hong Kong's Hang Seng is marginally down. China's Shanghai index is trading flat for now.
State Bank of India said its committee of directors on capital has permitted it to raise up to Rs 15,000 crore in a share sale.
Cabinet is planning to discuss 5% stake sale proposal in BHEL this week, according to reports. Report said that Fin Min will decide on price, timing of BHEL stake sale.
SpiceJet, the airline that made flying more affordable for more Indians than ever before in 2014, today announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in.
This offer is open for bookings made from January 28 to January 30, and is for travel between February 15 and June 30, 2015, and is applicable on all direct flights on SpiceJet's domestic network. The offer available on first come first served basis, and seats per flight are limited.
The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Consumer Durables, Teck, IT, healthcare indices are the gainers, while Realty Power, banking, Metals, Auto, capital goods, FMCG, Oil and gas indices are the losers.
Ranbaxy, Asian Paints, Siemens, Bharat Forge, GMR Infra, Sun Pharma are among the gainers, whereas Tata Motors, Tata Steel, L&T, HDFC Bank, BHEL are losing sheen on BSE.
With the government confident of meeting fiscal targets and providing a new-look budget, any correction in the market could well be temporary unless global factors start to dominate.
With ECB and Greece behind us, the focus now will be on what the Federal Reserve has to say today. The surprise dip in consumer durables numbers spooked Wall Street and a selloff in Microsoft shares after disappointing results kept the sentiment low. Other corporate results also disappointed. Data showed US Business investment plans were also down in December.
A number of results are on tap and individual stocks will move accordingly. The Dow dropped 1.65% while the S&P 500 slipped 1.34%. The Nasdaq saw a fall of close to 2%. Asian markets are also mimicking the weakness. Japan's Nikkei 225 is down around 1.5% while Hong Kong's Hang Seng is marginally down. China's Shanghai index is trading flat for now.
State Bank of India said its committee of directors on capital has permitted it to raise up to Rs 15,000 crore in a share sale.
Cabinet is planning to discuss 5% stake sale proposal in BHEL this week, according to reports. Report said that Fin Min will decide on price, timing of BHEL stake sale.
SpiceJet, the airline that made flying more affordable for more Indians than ever before in 2014, today announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in.
This offer is open for bookings made from January 28 to January 30, and is for travel between February 15 and June 30, 2015, and is applicable on all direct flights on SpiceJet's domestic network. The offer available on first come first served basis, and seats per flight are limited.
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