SBI gains 2% on block deal

Around 44 lakh shares were traded in a multiple block at Rs. 239.65 on the NSE.

Shares of State Bank of India were trading higher 2% at Rs. 239.65 on NSE today. Around 44 lakh shares were traded in a multiple block at Rs. 239.65 on the NSE.

The scrip opened at Rs. 238 and has touched a high and low of Rs. 240.6 and Rs. 237.4 respectively. So far 12372174(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 178108.76 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 335.9 on 28-Jan-2015 and a 52 week low of Rs. 220.6 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 246.5 and Rs. 232.3 respectively.

The promoters holding in the company stood at 59.15 % while Institutions and Non-Institutions held 29.88 % and 8.93 % respectively.

The stock is currently trading above its 200 DMA.

India’s coffee exports were flat in 2014-15 season

The unit value realisation increased by 5.4% to Rs. 171,065 per tonne from Rs. 162,255 per tonne in the previous year, according to data available with the Coffee Board.

India’s coffee exports remained flat at 301,647 tonne in the 2014-15 season ending in September compared to 303,250 tonne in the previous crop year due to lower domestic production and decline in international prices.

In value terms, Indian exporters earned Rs. 5,160 crore in 2014-15 compared to Rs. 4,920 crore.

In US dollar terms, export earnings grew marginally to US$817mn from US$807mn in the previous crop year.

The unit value realisation increased by 5.4% to Rs. 171,065 per tonne from Rs. 162,255 per tonne in the previous year, according to data available with the Coffee Board.

Exporters also suffered due to reduction in export benefit by 2% under Vishesh Krishi and Gram Udyog Yojana (VKGUY) announced in the Foreign Policy 2015, according to Coffee Exporters’ Association President Ramesh Rajah. This led to slowdown in exports from April-June quarter, he adds.

HDFC jumps 3% after raising funds

The company has raised about Rs. 100 billion through mix of warrants and non-convertible debentures to qualified institutional investors.

HDFC jumped 3% at Rs. 1,239 after the company has raised about Rs. 100 billion through mix of warrants and non-convertible debentures to qualified institutional investors.

The stock  is currently trading at Rs. 1240, up by 40.75 points or 3.4% from its previous closing of Rs. 1199.25 on the BSE.

The scrip opened at Rs. 1211.05 and has touched a high and low of Rs. 1242.2 and Rs. 1206 respectively. So far 1167314(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 189203.84 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1399.8 on 04-Mar-2015 and a 52 week low of Rs. 975.25 on 16-Oct-2014. Last one week high and low of the scrip stood at Rs. 1240 and Rs. 1153.45 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 88.29 % and 11.71 % respectively.

The stock is currently trading below its 200 DMA.

Tata Motors at day's high

The domestic sale of Tata commercial and passenger vehicles for September 2015 were flat at 40,813 nos., over 40,908 vehicles sold in September 2014.

Tata Motors has gained in early morning deals on the BSE.  PSA Peugeot Citroen are in talks with Tata Motors to form a partnership, as per media reports. Sales of Tata Motors passenger and commercial vehicles (including exports) were lower by 2% at 45,215 units, sold in September 2015, over 46,154 vehicles sold in September 2014. The domestic sale of Tata commercial and passenger vehicles for September 2015 were flat at 40,813 nos., over 40,908 vehicles sold in September 2014.

Currently the stock is trading at Rs. 315.9, up by 18.9 points or 6.36% from its previous closing of Rs. 297 on the BSE.

The scrip opened at Rs. 301.9 and has touched a high and low of Rs. 322 and Rs. 301.7 respectively. So far 5584951(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 96850 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 605.57 on 03-Feb-2015 and a 52 week low of Rs. 279.15 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 305 and Rs. 279.15 respectively.

The promoters holding in the company stood at 34.35 % while Institutions and Non-Institutions held 36.94 % and 7.32 % respectively.

The stock is currently trading above its 200 DMA.

Saudi Arabia cuts crude pricing for Asian, US clients

The company cut November pricing for its Light, Medium and Heavy grades to the US by 30 cents a barrel each.

Saudi Arabia on Sunday cut pricing for November oil sales to Asia and the US, citing stiff competition from other non-OPEC oil producers and weak demand.

Saudi Arabian Oil Co. reduced its official selling price for Medium grade crude to Asia next month to a discount of US$3.20 a barrel below the regional benchmark, compared with a US$1.30 discount for October sales, the company said in a statement.

The discount for the Medium grade to Asia, the main market for Saudi crude, widened by the most since the state- owned company made a US$2 per barrel cut in February 2012, according to reports.

Saudi Aramco widened the discount for Arab Light crude to Asia by US$1.70 a barrel to US$1.60 a barrel less than the benchmark, according to the official statement.

The company cut November pricing for its Light, Medium and Heavy grades to the US by 30 cents a barrel each.

Medium crude will sell at a discount of 85 cents a barrel to the regional benchmark, the widest since March.

Saudi Aramco raised price levels for the same three grades for buyers in Northwest Europe while trimming pricing on Light, Medium and Heavy sold to the Mediterranean region.

20 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Tata Motors: Sales of Tata Motors passenger and commercial vehicles (including exports) were lower by 2% at 45,215 units, sold in September 2015, over 46,154 vehicles sold in September 2014. The domestic sale of Tata commercial and passenger vehicles for September 2015 were flat at 40,813 nos., over 40,908 vehicles sold in September 2014.

Maruti Suzuki: Maruti Suzuki India's board has approved a contract manufacturing agreement for a period of up to 30 years proposed to be signed with an arm of parent Suzuki Motor Corp (SMC) for the upcoming plant in Gujarat.

NMDC: The company has slashed prices of iron ore fines by more than 52% to Rs.1,460 per tonne for the current month as compared to Rs.3,060 a tonne in January, says report.

ICICI Bank has reduced its base rate by 35 basis points to 9.35%, which will be effective October 5.

Indiabulls Housing Finance Company Ltd: IHFCL said its proposed plan to raise up to USD 1 billion by way of equity or convertible securities has been approved by shareholders.

Bank of India, United Bank of India: Bank of India and Union Bank of India have issued equity shares worth Rs. 2,455 crore and Rs. 1,079 crore respectively to the government on preferential basis for capital infusion.

Union Bank of India: The bank has cut its Base Rate by 35 bps to 9.65% from October 5.

Hero MotoCorp : Total Sales of Hero MotoCorp stood 6.06 lakh for Sep'15 compared to 6.04 lakh units last year. LIC increases stake in September end as compared to 4.77% for the quarter ended June.

Chennai Petroleum Corporation Ltd: LIC has has lowered its stake in CPCLto 5.04 per cent by selling 2% stake in the company.

TVS Motor Company Ltd: TVS Motor has reported a marginal drop in sales during the month of September at 232,775 units as against 236,751 units recorded in the month of September 2014.

Karnataka Bank: The bank cut its base rate by 25 bps to 10.25% from 10.50%. The revised rate will come into effect from October 5.

Biocon:  Pharma giant Biocon has acquired business assets of Acacia Life Sciences Private Limited, which has a unit at Jawaharlal Nehru Pharma City (JNPC) at Parawada.

Kalpataru Power Transmission: The company has received shareholders nod to issue securities worth up to Rs 300 crore on a private placement basis.

Cummins India: The company announced that the company has completed acquisition of the balance 50% shares of Cummins Svam Sales & Service, said media reports.

Dena Bank: The bank has reduced its base rate, or minimum lending rate, by 0.30 percent to 9.70 percent from 10 percent earlier.

NTPC: The company will consider selling electricity to Bangladesh from its upcoming 750 MW plant at Kokrajhar in Assam once the neighboring country finalizes plans to buy power from Palatana project in Tripura.

Adani Ports, L&T: Adani Ports and Larsen & Toubro said they have inked a pact to oversee operations of Kattupalli Port in Tamil Nadu.

HDFC: The company said it has raised about Rs. 100 bn through mix of warrants and non-convertible debentures to qualified institutional investors.

Sensex rallies over 250 points

The BSE Mid-cap Index is trading up 0.92% at 10,919, whereas BSE Small-cap Index is trading up 0.76% at 11,127. The Dow Jones rallied over a percent while S&P 500 gained 1.5%. Nasdaq was up 1.74%. Asian markets too are well in the green.

At 9:16 AM, the S&P BSE Sensex is trading at 26,483 up 262 points, while NSE Nifty is trading at 7,951 up 74 points.

The BSE Mid-cap Index is trading up 0.92% at 10,919, whereas BSE Small-cap Index is trading up 0.76% at 11,127.

India remains a bright spot indeed and the World Bank has maintained the country's growth forecast for the year. It’s a different matter that many are worried about the impact of the global slowdown on India. The South Asia Economic Focus released by the World Bank says India will grow 7.5% in the current fiscal. However, the projections come with a warning. Delays in the adoption and implementation of key reforms could affect investor sentiment; the World Bank has stated adding that "Led by a resilient India, South Asia is expected to maintain its lead as the fastest growing region in the world."

Global indices are in a cheerful mood. In fact on Friday, US indices jumped over 1% as poor payroll data hinted at economic weakness while strengthening the argument for delaying a long-awaited interest rate hike. The Dow Jones rallied over a percent while S&P 500 gained 1.5%. Nasdaq was up 1.74%. Asian markets too are well in the green.

The gains last week have resulted in Infosys surpassing HDFC Bank as the third most valued Indian firm in terms of market valuation. Infosys market valuation stood at Rs. 2,69,489.03 crore, while HDFC Bank's m-cap stands at Rs. 2,69,056.35 crore. TCS remains the biggest gainer among the top 10 firms, as its valuation surged by Rs. 12,555.44 crore to Rs 5,17,045.42 crore. RIL market-cap also zoomed by Rs. 7,901.76 crore to Rs 2,79,249.60 crore last week.

Union Finance Minister Arun Jaitley reiterated that India is ready to be one of the new drivers of growth of the world economy, says report.Jaitley also called for businesses worldwide to invest in India."There are also no serious political roadblocks,” Jaitley said in an interview. “I see an important opportunity for India. The relative slowdown in China does not necessarily impact India negatively. In the last five years or so, wage bills in China have risen significantly, and therefore China’s cost advantage gets substantially neutralised, and India again has an opportunity,” he said.

The Union Cabinet is likely to consider this week a proposal to recast INR 4.3 trillion loans of nine state power distribution companies (Discoms) with a view to bring down their liabilities, according to reports. The debt restructuring proposal once approved would reportedly help the discoms in these states to access cheaper loans at an interest rate of ~9%, compared to ~14% that they are presently paying.

PSA Peugeot Citroen and Tata Motors are reportedly in talks to form a partnership whereby the Indian company could produce and distribute the French giant's cars in the Indian market. The two firms may also share engine technology, according to a report in a financial daily. Emmanuel Delay, head of India Pacific Operation at the PSA Group, is steering discussions with senior executives of Tata Motors, the daily states in its report.
India’s coffee exports remained flat at 301,647 tonne in the 2014-15 season ending in September compared to 303,250 tonne in the previous crop year due to lower domestic production and decline in international prices.

In a significant step towards generating power from garbage under the Swachh Bharat Mission, six waste-to-energy plants with an installed capacity of ~74 MW will be commissioned next year, including two in the national capital.