Havells India rallies 8%; Board approves 100% stake sale in Havells Malta

The divestment upto 100% of the Company's stake in Havells Exim, Hongkong, a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed SPA signed interalia between the company.

Havells India has rallied 8% to Rs. 305.55 on BSE. 

The divestment proposed by Havells Holdings Limited (HHL), a 100% subsidiary of the Company, for the sale of its stake upto 100% in Havells Malta Limited (excluding its subsidiaries based in United States, Brazil, Chile and Thailand) to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) and the Share Holders Agreement (SHA) signed interalia between the buyer (FEILO) and seller (HHL).

Havells Malta Limited is a wholly-owned subsidiary of Havells Holdings Limited and thereby a step-down subsidiary of the Company. The divestment upto 100% of the Company's stake in Havells Exim Limited, Hongkong (Exlm), a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) signed interalia between the buyer (FEILO) and seller (Company).

 The scrip opened at Rs. 280.5 and has touched a high and low of Rs. 307.7 and Rs. 280.5 respectively. So far 10277390 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17650.85 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 346.15 on 10-Dec-2014 and a 52 week low of Rs. 235.6 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs. 304.35 and Rs. 275.1 respectively.

The promoters holding in the company stood at 61.63 % while Institutions and Non-Institutions held 26.77 % and 11.59 % respectively.

The stock is currently trading below its 200 DMA.

RBI helps lenders tackle bad loans and other top Banking news of the day

Round up of the major headlines that dominated the Banking sector, nationally and internationally.

A tool provided by the Reserve Bank of India (RBI) to help lenders tackle bad debts is instead helping to camouflage the scale of the problem, evidence of how the country's banks will struggle to meet an ambitious clean-up target in 16 months' time. 

Exhorting bankers to stop being "paranoid" about Payments Banks, ICICI Bankchief Chanda Kochhar today said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market. 

State Bank of India, country's largest lender, has initiated a process to sell its stake in the National Stock Exchange, where it owns around 15%. 

Country's largest public sector lender State Bank of India (SBI) has set a target to advance Rs 500 crore home loans in 2015-16 in Odisha, said a senior bank official. 

The finance ministry is expected to kick-start the process of setting up the proposed Bank Board Bureau (BBB), the first step towards a holding company structure for state-run banks, by the end of this month. 

As the proposed Small Finance Banks (SFBs) scout for domestic equity to meet their regulatory requirement, a recent Reserve Bank of India (RBI) circular on alternative investment funds (AIF) could be a game changer. 

When Kakao Corp, operator of South Korea’s messaging app KakaoTalk, and KT Corp., the former state phone monopoly, got preliminary approvals to set up the nation’s first Internet-only banks on 29 November, it created history in Asian banking.

Global Crude oil price of Indian Basket was US$ 36.75 per bbl on 09.12.2015

The international crude oil price of Indian Basket was US$ 36.75 per barrel (bbl) on 09.12.2015. This was lower than the price of US$ 37.34 per bbl on previous publishing day of 08.12.2015.

The international crude oil price of Indian Basket as computed/published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 36.75 per barrel (bbl) on 09.12.2015. This was lower than the price of US$ 37.34 per bbl on previous publishing day of 08.12.2015.

In rupee terms, the price of Indian Basket decreased to Rs 2453.22 per bbl on 09.12.2015 as compared to Rs 2493.98 per bbl on 08.12.2015. Rupee closed stronger at Rs 66.75 per US$ on 09.12.2015 as against Rs 66.80 per US$ on 08.12.2015. The table below gives details in this regard:

Particulars	Unit	Price on December 09, 2015(Previous trading day i.e. 08.12.2015)	Pricing Fortnight for 01.12.2015 (Nov 11 to Nov 26, 2015)
Crude Oil (Indian Basket)	($/bbl)	36.75             (37.34)	41.17
	(Rs/bbl	2453.22         (2493.98)	2725.87
Exchange Rate	(Rs/$)	66.75             (66.80)	66.21

Alembic Pharma advances 1% on Rhizen-Novartis license agreement

Swiss subsidiary Rhizen Pharmaceuticals S.A. entered into an exclusive, worldwide license agreement with Novartis for the development and commercialization of Rhizen's, inhaled dual Pl3K-delta gamma inhibitor and its closely related compounds for various indications.

Shares of Alembic Pharmaceuticals Ltd are currently trading 1.11% higher at Rs. 676 on BSE after its Swiss subsidiary Rhizen Pharmaceuticals S.A. entered into an exclusive, worldwide license agreement with Novartis for the development and commercialization of Rhizen's, inhaled dual Pl3K-delta gamma inhibitor and its closely related compounds for various indications.

The stock opened higher at Rs. 680 as against its previous close of Rs. 668.60. It hit a high and a low of Rs. 688 and Rs. 670.40 respectively. So far, a total of 26,257 (BSE+NSE) shares have changed hands.

The scrip opened at Rs. 680 and has touched a high and low of Rs. 688 and Rs. 670 respectively. So far 27967(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12603.11 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 791.7 on 15-Jul-2015 and a 52 week low of Rs. 381.9 on 26-Feb-2015. Last one week high and low of the scrip stood at Rs. 702.4 and Rs. 666 respectively.

The promoters holding in the company stood at 74.13 % while Institutions and Non-Institutions held 12.6 % and 13.28 % respectively.

The stock is currently trading above its 100 DMA.

Shipping cos rally after cabinet clears policy to boost shipbuilding sector

The Union Cabinet has approved the proposal for introducing measures to encourage shipbuilding and ship repair industry in India under the ‘Make in India’ initiative.

Shipping companies are trading higher on BSE. The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the proposal for introducing measures to encourage shipbuilding and ship repair industry in India under the ‘Make in India’ initiative.

Global Offshore climbed 3.7% to Rs.353.The scrip opened at Rs. 346.95 and has touched a high and low of Rs. 359.7 and Rs. 334.5 respectively. So far 197,112 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 841.93 crore.

Mercator soared 2.8% to Rs.25.50.   The scrip opened at Rs. 27.9 and has touched a high and low of Rs. 27.9 and Rs. 24.95 respectively. So far 840,677 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 607.35 crore.

ABG Shipyard jumped 2.5% to Rs.64.50. The scrip opened at Rs. 67 and has touched a high and low of Rs. 67 and Rs. 64.35 respectively. So far 841,224 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 339.85 crore.


Shreyas Shipping & Logistics gained 1% to Rs.432.50. The company has signed an MoU with Suzue Corporation of Japan for a Joint Venture.

Essar Shipping is currently trading flat at Rs.20.55 on BSE.  

Homestudio.com receives USD5mn in seed funding and other top Startup news

Round up of the major headlines that dominated the Startup sector, nationally and internationally.

In what is perhaps the first sign of new age Indian companies waking up to the potential of patents, Snapdeal-owned digital payments firm FreeCharge has indigenously developed an alternative to the SMS based one-time-password and has already filed a patent for the technology.

Homestudio.com, an online startup offering branded home solutions in the furniture and kitchen category to customers, today said it has received USD 5 million in seed funding from Bren Corporation. 

Infosys Ltd made its fifth investment from its $500 million innovation fund when it paid $4 million to pick a minority stake in Cloud Endure Ltd, an Israeli-based start up which offers solutions to help large companies move applications to cloud and cloud-based Disaster Recovery software. 

Singapore-based big data startupCrayon Data is setting up India operationsin association with WPP's media agency conglomerate GroupM. Mindshare, one of the GroupM agencies, is all set to bring its global alliance with Crayon Data to the Indian market. 

Flexeye, an UK-based privately-held software and solutions provider, on Wednesday opened HyperCat, an accelerator and incubation centre in Hyderabad, to nurture Indian startups in the Internet of Things (IoT) and smart cities space. 

Paytm founder Vijay Shekhar Sharma has agreed to sponsor 1,000 Right to Information requests for onlineRTI.com, a Bengaluru-based platform that helps people file these applications online.

Taxi app company Uber launched today in Sri Lanka, a country dominated by three-wheeler auto rickshaws, as part of the US start-up’s growing push into Asia. 

BlackBuck, an online freight-booking service, has raised Rs 155 crore, or $25 million, in funding led by New York-based Tiger Global Management and the partner's fund of DST Global, Russian billionaire Yuri Milner's investment firm. 

The department of lectronics and information technology(DeitY) in association with the Indian electronics and semiconductor association and STPI is planning to expand its 'Electropreneur Park' program to help more startups in the electronics and semiconductor space reach some maturity.

Delhi-based growX ventures has led a $500,000 (Rs 3.34-crore) seed round for i2e1, a smart network layer platform, which aims to provide low-cost internet to consumers and actionable analytics to providers, reports J Vignesh. 

Four out of the 16 Internet of Things (IoT) startups mentored over the past few months by India Electronics and Semiconductor Association (IESA) and The Indus Entreprenuers (TiE), Bangalore, have received funding. The organizations said it was a promising start for IoT startups, ventures that create solutions that allow devices to talk to each other.

Havells India rallies 2.4%; Board approves 100% stake sale in Havells Malta

The divestment upto 100% of the Company's stake in Havells Exim, Hongkong, a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed SPA signed interalia between the company.

Havells India has rallied 2.4% to Rs. 289.60 on BSE. 

The divestment proposed by Havells Holdings Limited (HHL), a 100% subsidiary of the Company, for the sale of its stake upto 100% in Havells Malta Limited (excluding its subsidiaries based in United States, Brazil, Chile and Thailand) to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) and the Share Holders Agreement (SHA) signed interalia between the buyer (FEILO) and seller (HHL).

Havells Malta Limited is a wholly-owned subsidiary of Havells Holdings Limited and thereby a step-down subsidiary of the Company. The divestment upto 100% of the Company's stake in Havells Exim Limited, Hongkong (Exlm), a 100% subsidiary of the Company to Shanghai Feilo Acoustics Co. Ltd. (FEILO) or its Affiliates on such terms and conditions as contained in the proposed Share Purchase Agreement (SPA) signed interalia between the buyer (FEILO) and seller (Company).

The scrip opened at Rs. 280.5 and has touched a high and low of Rs. 291.7 and Rs. 280.5 respectively. So far 782,040 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17650.85 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 346.15 on 10-Dec-2014 and a 52 week low of Rs. 235.6 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs. 304.35 and Rs. 275.1 respectively.

The promoters holding in the company stood at 61.63 % while Institutions and Non-Institutions held 26.77 % and 11.59 % respectively.

The stock is currently trading below its 200 DMA.

RIL climbs 2%; Reliance Jio may acquire smaller telcos for more wavelength

Reliance Jio Infocomm, a unit of Reliance Industries Ltd, may look to acquire smaller telecom companies to gain market share and compete with incumbents, says report.

Reliance Industries Ltd stock was up by 2% at Rs. 931 on reports that said Reliance Jio Infocomm, a unit of Reliance Industries Ltd, may look to acquire smaller telecom companies to gain market share and compete with incumbents.

Reliance Industries Ltd is currently trading at Rs. 931, up by Rs. 15.05 or 1.64% from its previous closing of Rs. 915.95 on the BSE.

The scrip opened at Rs. 921.15 and has touched a high and low of Rs. 932.65 and Rs. 920.25 respectively. So far 783999(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 296695.65 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1067 on 23-Jul-2015 and a 52 week low of Rs. 796.75 on 30-Mar-2015. Last one week high and low of the scrip stood at Rs. 988.25 and Rs. 913 respectively.

The promoters holding in the company stood at 45.21 % while Institutions and Non-Institutions held 31.77 % and 19.85 % respectively.

The stock is currently trading below its 100 DMA.

Venkys soars 8% after board announces bonus ratio

The company has fixed December 22, 2015 as the Record Date for the purpose of to ascertain the shareholders who are eligible to receive bonus shares in the proportion of 1 equity share for every 2 existing equity share held by the members.

Venkys (India) Ltd has gained 7.8% to Rs.469.30 on BSE. The company has fixed December 22, 2015 as the Record Date for the purpose of to ascertain the shareholders who are eligible to receive bonus shares in the proportion of 1 equity share for every 2 existing equity share held by the Members. 

The scrip opened at Rs. 487 and has touched a high and low of Rs. 488.6 and Rs. 470 respectively. So far 345,298 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 410.62 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 625 on 22-Jul-2015 and a 52 week low of Rs. 274.7 on 18-May-2015. Last one week high and low of the scrip stood at Rs. 488 and Rs. 431.2 respectively.

The promoters holding in the company stood at 56.11 % while Institutions and Non-Institutions held 0.32 % and 43.57 % respectively.

The stock is currently trading above its 100 DMA.

Wipro gains 1%; steps up investment in UK

Wipro Digital, the digital business unit of Wipro Limited announced the opening of its new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers.

Wipro was trading up by 1% intraday at Rs. 568. Wipro Digital, the digital business unit of Wipro Limited announced the opening of its new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers.

The scrip opened at Rs. 569.8 and has touched a high and low of Rs. 569.8 and Rs. 566.05 respectively. So far 104693(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 139606.73 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 676.9 on 11-Mar-2015 and a 52 week low of Rs. 512.55 on 24-Apr-2015. Last one week high and low of the scrip stood at Rs. 587 and Rs. 562.8 respectively.

The promoters holding in the company stood at 73.36 % while Institutions and Non-Institutions held 15.29 % and 9.38 % respectively.

The stock is currently trading above its 200 DMA.

Asian Paints transfers stake in overseas units; up 1%

The company announced that as part of the company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 60% held in the subsidiary company.

Asian Paints stock was up by 1% at Rs. 849. The company announced that as part of the Company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) Limited (APIL), Mauritius, a wholly owned subsidiary of the Company has transferred its entire holding of 60% held in the subsidiary Company, Asian Paints (Vanuatu) Limited to Berger International Private Limited, Singapore, a wholly owned subsidiary of APIL.

Asian Paints Ltd is currently trading at Rs. 848.5, up by Rs. 8.25 or 0.98% from its previous closing of Rs. 840.25 on the BSE.

The scrip opened at Rs. 842 and has touched a high and low of Rs. 850.5 and Rs. 842 respectively. So far 103446(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 80596.78 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 924.65 on 05-Aug-2015 and a 52 week low of Rs. 693 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 878 and Rs. 830 respectively.

The promoters holding in the company stood at 52.79 % while Institutions and Non-Institutions held 26.88 % and 20.33 % respectively.

The stock is currently trading below its 100 DMA.

Bharat Forge in pact with Rolls - Royce for aero engine components

The agreement envisages supply of critical & high integrity forged and machined components for a range of aero engines including the flagship Trent engine.

Rolls-Royce, a world leader in power systems for aerospace, land and sea and Bharat Forge Limited, a leading global commercial forging company are pleased to announce that they have formalized a significant supply agreement for long term co-operation. The agreement envisages supply of critical & high integrity forged and machined components for a range of aero engines including the flagship Trent engine.

This award follows a period of collaboration over the last 18 months to define and secure the necessary level of stringent quality and process approvals. Both Companies consider this award to be a significant milestone to cement a strong and long-term relationship.

B.N. Kalyani, Chairman & Managing Director, Bharat Forge said, “It is our strategic intent to play a significant role in global aerospace supply chain with Forged & Machined products and assemblies in future. This supply-chain partnership with Rolls-Royce is a momentous step towards achieving our stated goal of $ 100 million revenues from the aerospace sector.”