Defence Deals! Reliance Defence ties up with AlmazAntey

Anil Ambani stated that the partnership with AlmazAntey will be an important strategic relationship.

Reliance Defence has reportedly tied up with Russian Defence Co AlmazAntey. The Almaz-Antey group produces air defense systems, firearms for aircraft and armored vehicles, artillery shells and surface-to-surface missiles, airspace surveillance and coordination & artillery radars.  

Anil Ambani stated that the partnership with AlmazAntey will be an important strategic relationship, as the company & AlmazAntey is planning to manufacture missiles & radars.

Reliance Infrastructure Ltd is currently trading at Rs. 481.8, up by Rs. 23.95 or 5.23% from its previous closing of Rs. 457.85 on the BSE.

The scrip opened at Rs. 462.8 and has touched a high and low of Rs. 482.2 and Rs. 462.4 respectively. So far 2877502(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12041 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 525.35 on 02-Jan-2015 and a 52 week low of Rs. 282.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 462.85 and Rs. 432.8 respectively.

The promoters holding in the company stood at 48.53 % while Institutions and Non-Institutions held 35.6 % and 13.09 % respectively.

The stock is currently trading below its 50 DMA.

SBI raises Rs. 4,000 crore

The scrip opened at Rs. 230.5 and has touched a high and low of Rs. 231.15 and Rs. 228.2 respectively. So far 3337154(NSE+BSE) shares were traded on the counter.

India's largest bank, State Bank of India, has said it has raised Rs 4,000 crore by issuing tier-II bonds on private placement basis under the Basel-III norms. 

The bank has announced that in terms of Regulation 30 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Bank on December 23, 2015 has issued 40,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs.10,00,000/- each at par, with 10 year tenure, bearing 8.33% p.a. coupon and with call option after 5 years, aggregating to Rs.4000 crores (Rupees four thousand crores) on private placement basis.

The scrip opened at Rs. 230.5 and has touched a high and low of Rs. 231.15 and Rs. 228.2 respectively. So far 3337154(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 178466.24 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. 232.5 and Rs. 226 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.73 % and 9.09 % respectively.

The stock is currently trading above its 200 DMA.

Pipavav Defense zooms 17%

Reliance Group is planning to sign an agreement with Russian United Shipbuilding Company at Moscow for manufacturing Rs 30,000 crore worth of four frigates for the Indian Navy, says report.

Pipavav Defense and Offshore Engineering Ltd stock was higher by 17% at Rs. 97. Reliance Group is planning to sign an agreement with Russian United Shipbuilding Company at Moscow for manufacturing Rs 30,000 crore worth of four frigates for the Indian Navy, says report.

Pipavav Defence & Offshore Engineering Company Ltd is currently trading at Rs. 97.5, up by Rs. 13.95 or 16.7% from its previous closing of Rs. 83.55 on the BSE.

The scrip opened at Rs. 85.7 and has touched a high and low of Rs. 97.65 and Rs. 85.25 respectively. So far 16098472(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 6151.03 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 85 on 19-Feb-2015 and a 52 week low of Rs. 38.8 on 24-Dec-2014. Last one week high and low of the scrip stood at Rs. 84.6 and Rs. 71.85 respectively.

The promoters holding in the company stood at 42.24 % while Institutions and Non-Institutions held 17.13 % and 40.63 % respectively.

The stock is currently trading below its 50 DMA.

Block Deal on Mangalore Chemicals; soars 16.7%

Around 38.8 lakh shares were traded in a single block at Rs. 41.50 on the BSE.

Shares of  Mangalore Chemicals & Fertilizers were trading higher 16.7% at Rs. 48.40 on BSE today. Around 38.8 lakh shares were traded in a single block at Rs. 41.50 on the BSE.

The scrip opened at Rs. 41.5 and has touched a high and low of Rs. 48.8 and Rs. 41.5 respectively. So far 4336996(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 493.04 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 97.15 on 31-Dec-2014 and a 52 week low of Rs. 40 on 15-Dec-2015. Last one week high and low of the scrip stood at Rs. 46.5 and Rs. 40.65 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 1.76 % and 23.24 % respectively.

The stock is currently trading below its 200 DMA.

OPEC daily basket price at $31.15 a barrel on December 22

The price of OPEC basket of twelve crudes stood at 31.15 dollars a barrel on Tuesday, compared with $30.74 the previous day, according to OPEC Secretariat calculations.

The price of OPEC basket of twelve crudes stood at 31.15 dollars a barrel on Tuesday, compared with $30.74 the previous day, according to OPEC Secretariat calculations. 

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Biocon rallies 5.3% on launches CIMIVIR-L for Hepatitis-C

The company has introduced the an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis-C in India.

Biocon rallied 5.7% to Rs.509 after the company has introduced the an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis-C in India.

The scrip opened at Rs. 485.05 and has touched a high and low of Rs. 509.65 and Rs. 484 respectively. So far 596886(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9635 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 495.7 on 15-Apr-2015 and a 52 week low of Rs. 396.5 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 487.25 and Rs. 470.25 respectively.

The promoters holding in the company stood at 61.02 % while Institutions and Non-Institutions held 19.21 % and 19.76 % respectively.

The stock is currently trading below its 50 DMA.

Blue Star Infotech gets CCI approval for Scheme of amalgamation

Blue Star Infotech Ltd has announced that the Company has received an approval from the Competition Commission of India (CCI) for the Composite Scheme of Amalgamation.

Blue Star Infotech Ltd has announced that the Company has received an approval from the Competition Commission of India (CCI) for the Composite Scheme of Amalgamation between Blue Star Limited, the Company and Blue Star Infotech Business Intelligence and Analytics Private Limited.

Blue Star Infotech Ltd ended at Rs. 239.5, up by Rs. 3.1 or 1.31% from its previous closing of Rs. 236.4 on the BSE.

The scrip opened at Rs. 242.1 and touched a high and low of Rs. 242.2 and Rs. 235 respectively. A total of 16753(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 258.66 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 315.7 on 19-Aug-2015 and a 52 week low of Rs. 160.3 on 08-May-2015. Last one week high and low of the scrip stood at Rs. 242.2 and Rs. 232 respectively.

The promoters holding in the company stood at 51.78 % while Institutions and Non-Institutions held 1.98 % and 46.24 % respectively.

The stock traded below its 100 DMA.

Reliance Infra in talks to sell cement biz for Rs. 26bn

Under the terms of the deal, the buyer would also take over the cement unit's outstanding debt of Rs. 24 billion, giving the business an enterprise value of Rs. 50 bn, reports a business daily.

Reliance Infrastructure Ltd. is in advanced talks to sell its cement business for INR 26 billion (US$394 million) and a deal could be announced as soon as this week, according to a foreign news agency.

Under the terms of the deal, the buyer would also take over the cement unit's outstanding debt of Rs. 24 billion, giving the business an enterprise value of Rs. 50 bn, reports a business daily.

A consortium, which includes some private equity (PE) firms, is likely to emerge as the successful bidder for the cement unit of Reliance Infrastructure, according to the newspaper.

Seven bidders had been shortlisted earlier.

Another media report on Wednesday indicated that Reliance Infrastructure was in talks with cement makers as well as PE firms, including Blackstone Group LP and Carlyle Group LP for the sale of its cement business.

Reliance Infrastructure's cement unit has three plants with total installed capacity of 5.8 million tonnes per annum (MTPA). Another 5 MTPA cement manufacturing plant is being built in Maharashtra.

ONGC to invest Rs. 3500 cr for developing 3 CBM blocks

"We see a peak production of 3.2 million standard cubic meters per day of gas from the three CBM blocks," ONGC's Director (Onshore) Ved Prakash Mahawar told reporters in New Delhi.

Oil & Natural Corp. Ltd. (ONGC) on Wednesday said that it will invest INR 3,500 crore in three coal-bed methane (CBM) blocks in eastern India. 

"We see a peak production of 3.2 million standard cubic meters per day of gas from the three CBM blocks," ONGC's Director (Onshore) Ved Prakash Mahawar told reporters in New Delhi. 

ONGC will drill more than 350 wells in three CBM blocks in Jharia, Bokaro and North Karanpur in Jharkhand. 

A fourth block in Ranigajan North in West Bengal may be relinquished as it may fall in the way of a planned air-strip. 

"Production will start in three years and peak output of 3.2 mmscmd is likely in 2020-21," Mahawar said. 

Mahawar also said that CBM production is viable at USD 4.8 per million British thermal unit (mmBtu) gas price. In comparison, the current Government has mandated a rate of USD 4.24 per mmBtu.

ONGC sells CBM gas from wells at Parbatpur in the Jharia block at an approved price of USD 5.1 per mmBtu. 

ONGC suspends capex plans due to crude oil slump

The decision follows an investment review meeting called by Union Petroleum Minister Dharmendra Pradhan on Monday and a meeting of the company’s Board of Directors on Tuesday

ONGC has decided not to invest in new projects until crude oil prices recover and the realisation is enough to maintain its earlier capex plans, reports a financial newspaper. 

The decision follows an investment review meeting called by Union Petroleum Minister Dharmendra Pradhan on Monday and a meeting of the company’s Board of Directors on Tuesday.

ONGC won’t halt its ongoing exploration and development works, as it is getting the advantage of a fall in oil field services cost, according to the business daily.

The company's coveted deepwater block "KG-DWN-98/2" in the Krishna-Godavari Basin entails an investment of US$6-7 billion to pump out oil and gas by 2018.

ONGC's capex between FY11 and FY15 stood at INR 1.5 lakh crore. About 60% of these investments was used for maintaining the existing production infrastructure and explorations. 

Till November this year, the company's capex for FY16 has been Rs. 19,000 crore.

It had estimated capex of INR 36,249 crore in FY16 and Rs. 34,000-35,000 crore in FY17. These plans could be deferred until global crude oil prices recover, according to the newspaper.

Govt to soon announce coal linkage, new tariff policies: Piyush Goyal

“In the coal sector, a lot of policies are being changed. The process (for coal linkage policy is underway). Both (the policies) are coming out very soon,” Coal & Power Minister Piyush Goyal said on Wednesday.

The Government will soon introduce a coal linkage policy to ensure supply of fossil fuel, besides a new tariff policy aimed at boosting regulatory mechanism for discoms and attracting investments.

“In the coal sector, a lot of policies are being changed. The process (for coal linkage policy is underway). Both (the policies) are coming out very soon,” Coal & Power Minister Piyush Goyal said on Wednesday.

On the Government's one billion tonnes coal production target, Goyal said “100 per cent, we will make one billion tonnes. May be more than that.”

He also denied that the Finance Ministry has raised concerns about the impact of UDAY - a bailout scheme for discoms - on the combined fiscal deficit of states and Centre.

“Every banker, both the ministers, junior and senior, have thanked me,” Goyal said.

NPA of large borrowers hurting banking system: RBI

In its Financial Stability Report released on Wednesday, the RBI stated that there has been a sharp increase in the large borrowers' share of gross NPAs in the total gross NPAs to 87.4% in September from 78.2% in March.

The Reserve Bank of India (RBI) on Wednesday expressed concern about the debt servicing capability of large borrowers, saying that it was affecting the health of the banking sector.

In its Financial Stability Report released on Wednesday, the RBI stated that there has been a sharp increase in the large borrowers' share of gross NPAs in the total gross NPAs to 87.4% in September from 78.2% in March. 

"This is a major concern to the lending institutions and other stakeholders," according to the central bank.

In his foreword to the FSR, RBI Governor Raghuram Rajan says that corporate sector vulnerabilities and the impact of their weak balance sheets on the financial system need closer monitoring.

The RBI has requested public sector banks (PSB) to ensure that they don't overpay dividends since their bad loans could rise further in case there is a deterioration in the economic condition.

Worsening asset quality and sluggish profitability show that risks to banking stability have increased in the past six months, RBI said in its FSR.

The risk to the banking system from the domestic economy has dropped to medium from high, the central bank sai