HCL Tech signs deal with Volvo Group

The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group.

HCL Technologies Ltd is marginally up at Rs.825.55 on BSE.  The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group. The approval of European Union has been obtained for this transaction.

The scrip opened at Rs. 827.4 and has touched a high and low of Rs. 837.5 and Rs. 820 respectively. So far 746531(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 116382.81 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1058.2 on 11-Mar-2015 and a 52 week low of Rs. 785.85 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 848 and Rs. 785.85 respectively.

The promoters holding in the company stood at 60.42 % while Institutions and Non-Institutions held 33.02 % and 6.55 % respectively.

The stock is currently trading above its 200 DMA.

Idea Cellular drops 2.5%; launches 4G services in Hyderabad

The scrip opened at Rs. 111.95 and has touched a high and low of Rs. 112.1 and Rs. 105.7 respectively

Idea Cellular drops 2.5% to Rs.106 on BSE. The telecom service company launched 4G Lte Services in Hyderabad, as per media reports.

The scrip opened at Rs. 111.95 and has touched a high and low of Rs. 112.1 and Rs. 105.7 respectively. So far 2271444 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 39190.54 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.9 on 17-Apr-2015 and a 52 week low of Rs. 97.55 on 10-Feb-2016. Last one week high and low of the scrip stood at Rs. 112 and Rs. 97.55 respectively.

The promoters holding in the company stood at 42.24 % while Institutions and Non-Institutions held 29.43 % and 28.34 % respectively.

The stock is currently trading above its 200 DMA.

GATI climbs 4.9%; plans to invest in logistics start-ups

The company is exploring the burgeoning start-ups environment, and is looking at strategic investment in start-ups in the logistics sector.

Gati is currently trading at Rs. 113.8, up by Rs. 5.75 or 5.32% from its previous closing of Rs. 108.05 on the BSE. The company is looking at strategies for growth to align with their vision of delivering 1 million packages everyday by 2020. The company is exploring the burgeoning start-ups environment, and is looking at strategic investment in start-ups in the logistics sector. The organization has already progressed considerably in engaging with start-ups to make a strategic investment shortly.

The scrip opened at Rs. 113 and has touched a high and low of Rs. 118.4 and Rs. 113 respectively. So far 2394273(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 947.85 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 264.1 on 16-Feb-2015 and a 52 week low of Rs. 94.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 110 and Rs. 94.6 respectively.

The promoters holding in the company stood at 41.32 % while Institutions and Non-Institutions held 16.46 % and 42.21 % respectively.

The stock is currently trading above its 200 DMA.

Inox Wind bags 100 MW repeat order from Tata Power Renewable Energy

Inox Wind’s Rojmal site is one of the largest wind farms in Gujarat and has a capacity of 400 MW.

Inox Wind Limited, maintaining its momentum as India’s leading wind power solutions provider, has bagged a repeat order for a 100 MW wind power project at Rojmal, in Gujarat from Tata Power Renewable Energy Limited (TPREL).  The order is TPREL’s fourth project with Inox Wind taking the cumulative orders placed with Inox Wind across various sites to more than 300 MW.  TPREL is a 100% subsidiary of Tata Power and has ~215 MW of commissioned renewable assets, with another 250 MW under construction/on order. Tata Power, including TPREL’s capacities, has a commissioned capacity of ~600+ MW of Wind and Solar assets.  

Inox Wind’s Rojmal site is one of the largest wind farms in the state of Gujarat with a capacity of 400 MW. More than 140 MW of capacities are already operational at the wind park including 50 MW capacities of TPREL.The commissioned common infrastructure facilities at the site are capable of supporting power evacuation of 400 MW.

As part of the turnkey order, Inox Wind will provide TPREL with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.  The repeat order involves supply and installation of 50 units of Inox Wind’s best in class 2MW DFIG 100 rotor dia Wind Turbine Generator, proving the success of Inox Wind’s technology which has been developed especially for Indian climatic conditions.

Inox Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.   

"The fourth order from an esteemed customer like TPREL underlines the strength of the growing partnership between the two companies and reaffirms customers’ confidence in Inox Wind’s 2MW platform.  Repeat orders from one of the country’s leading renewables players like TPREL corroborate Inox Wind’s ability to provide world class technological solutions to its clients.” said Mr. Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited in his statement.

“The 100 MW expansion of the Rojmal project is TPREL’s fourth project with Inox Wind. We are confident that Inox will again deliver the project safely, timely and of top notch quality. We look forward to building a long and fruitful relationship with Inox on the strong foundation of the previous successful projects in Gujarat and Rajasthan.” Rahul Shah, Chief Executive Officer of TPREL said in his statement.

Biocon surges on EU approval for Rosuvastatin Calcium

This first generic formulations approval in the regulated markets marks is an important milestone in Biocon’s small molecules strategy directed at forward integration from APIs to finished dosages.

Shares of Biocon Ltd are currently trading 1.06% higher at Rs. 462.50 on BSE after the company yesterday announced that it has received European approvals for its Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, a generic equivalent of Crestor tablets, indicated for hyperlipidemia or mixed dyslipidemia.

This first generic formulations approval in the regulated markets marks an important milestone in Biocon’s small molecules strategy of forward integration from APIs to finished dosages.

Cairn India, ONGC clock gains on rise in crude oil prices

International crude oil prices jumped amid speculation that some of the world’s biggest crude producers will cooperate toward reducing output.

Cairn India Ltd is up 3% to Rs.128.05; Oil and Natural Gas Corp rose 2% to Rs.204 after international crude oil prices jumped amid speculation that some of the world’s biggest crude producers will cooperate to reduce output.

Cairn India Ltd is currently trading at Rs. 127.3, up by Rs. 2.45 or 1.96% from its previous closing of Rs. 124.85 on the BSE.

The scrip opened at Rs. 129.25 and has touched a high and low of Rs. 129.7 and Rs. 126.05 respectively. So far 1830367(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 23407.66 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 262.5 on 16-Feb-2015 and a 52 week low of Rs. 106.6 on 19-Jan-2016. Last one week high and low of the scrip stood at Rs. 127.1 and Rs. 111.2 respectively.

The promoters holding in the company stood at 59.88 % while Institutions and Non-Institutions held 26.15 % and 13.97 % respectively.

The stock is currently trading below its 200 DMA.

Oil & Natural Gas Corpn Ltd is currently trading at Rs. 204.3, up by Rs. 4.4 or 2.2% from its previous closing of Rs. 199.9 on the BSE.

The scrip opened at Rs. 205.9 and has touched a high and low of Rs. 206.1 and Rs. 203 respectively. So far 1365874(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 171024.25 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 344.9 on 16-Feb-2015 and a 52 week low of Rs. 188 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 219.5 and Rs. 188 respectively.

The promoters holding in the company stood at 68.93 % while Institutions and Non-Institutions held 17.49 % and 13.57 % respectively.

The stock is currently trading above its 200 DMA.

HDFC Bank ties up with Tone Tag and other top Banking news of the day

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

The Reserve Bank of India (RBI) and the government don’t favour undervaluation of the exchange rate as a means to spur economic growth, RBI Governor Raghuraman Rajan said. “There are those who argue that in countries such as China, Japan, and Korea business enterprises grew via an undervalued exchange rate,” Dr. Rajan said at the India MSME Summit-2016 organised by the Confederation of Indian Industry(CII) on Monday.

RBI today imposed a penalty of Rs 2 lakh on the Kapadwanj People's Co-operative Bank for violation of norms, including those on advances and KYC. 

HDFC Bank customers will soon be able to pay at credit card swipe machines using sound from their handsets. The private bank has become the first to sign up with Bengaluru-based startup Tone Tag to provide a phone-based proximity payment service that requires neither special handsets nor any new acceptance device. 

As public sector banks’ (PSBs) non-performiing and restructured assets have constrained their profitability and market capitalisation, the Comptroller and Auditor General (CAG) of India is set to scrutinise these banks’ books for the first time to analyse how the capital provided by the Centre in the past five years was utilised by them. 

Country's fifth-largest private lender Yes Bank today signed an agreement with the Indian Renewable Energy Development Agency (IREDA) to foster renewable energy (RE) development in India. 

Prime Minister Narendra Modi met senior finance ministry officials last week to take stock of rising bad loans at state-run banks.

Jain Irrigation Systems marginally up despite a mega turnaround in Q3 results YOY

The company reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.

Jain Irrigation Systems is currently trading at Rs. 53.65, up by Rs. 0.15 or 0.28% from its previous closing of Rs. 53.5 on the BSE. The company reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.

The scrip opened at Rs. 54.5 and has touched a high and low of Rs. 54.85 and Rs. 52.75 respectively. So far 704772(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2445.55 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 79 on 23-Jul-2015 and a 52 week low of Rs. 50.4 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 61.45 and Rs. 50.4 respectively.

The promoters holding in the company stood at 28.7 % while Institutions and Non-Institutions held 50.23 % and 20.91 % respectively.

The stock is currently trading above its 200 DMA.

Pipavav Defence zooms 9%

Report says that new defence procurement policy or DPP that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

Pipavav Defence and Offshore Engineering Ltd stock was higher by 9% at Rs. 67.  Report says that new defence procurement policy that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

The defence ministry has already finalized the draft DPP and it has been approved by the Defence Acquisition Council (DAC).

The scrip opened at Rs. 64 and has touched a high and low of Rs. 68.6 and Rs. 64 respectively. So far 1326758(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4571.86 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 51.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 67.45 and Rs. 52.65 respectively.

The promoters holding in the company stood at 37.48 % while Institutions and Non-Institutions held 56.35 % and 6.17 % respectively.

The stock is currently trading above its 50 DMA.

Vedanta dips 4%;signs pact with Odisha govt

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

Shares of billionaire Anil Agarwal-led Vedanta Ltd is currently trading 3.54% lower at Rs. 72.20 on BSE after it was reported that the company has signed an agreement with Odisha government to set up an aluminium park in the state.

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

RBI finds irregularities! Bank of Baroda down 3% after Monday's spectacular show

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively

A day after surging over 22%, Bank of Baroda is trading lower by 3% at Rs. 134. Report says that RBI found irregularities in Bank of Baroda forex transactions.

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively. So far 6412802(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32154.55 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.25 on 18-Aug-2015 and a 52 week low of Rs. 109.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 142 and Rs. 109.45 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 33.71 % and 7.06 % respectively.

The stock is currently trading above its 200 DMA.

BHEL trades flat; commissions a gas-based combined cycle power plant in Tripura

The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

Bharat Heavy Electricals is currently trading at Rs. 108.35, up by Rs. 0.4 or 0.37% from its previous closing of Rs. 107.95 on the BSE. The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

The scrip opened at Rs. 109.95 and has touched a high and low of Rs. 110.5 and Rs. 106.75 respectively. So far 1280296(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 26421.84 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.85 on 21-Jul-2015 and a 52 week low of Rs. 102.15 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 133.5 and Rs. 102.15 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.08 % and 3.86 % respectively.

The stock is currently trading above its 200 DMA.

Rupee opens lower by 7 paise

India’s exports contracted during January, marking the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. India’s exports contracted during January, which was the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand. Wholesale prices fell 0.9% during January, registering the contraction for the 15th consecutive month.

In China, the central bank authorities stated that they are committed to stabilize Yuan and will not intentionally devalue in order to gain a trade advantage for the country’s exports.

In Europe, ECB president Mario Draghi stated that the central bank is ready to ease policy next month if financial market turmoil or low energy prices continue to generate deflationary pressures. As a result, Euro lost ground against the greenback, with values tumbling to 1.116 at one point of time.

On Monday, the rupee ended at 68.06/$, 17 paise higher. The currency touched a high and low of 68.25 and 68.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067.

Chicago Auto Show: Chevrolet unveils Trax and Camaro 1LE

The vehicle has an updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors.

Chevrolet introduced the all-new Trax compact crossover and the Camaro 1LE performance package during the 2016 Chicago Auto Show Media Preview.

The newly re-designed Trax features contemporary design elements including an all-new front-end appearance and a new premium interior. The vehicle has updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors. The SUV also offers keyless access with a push-button starter, which wasn't available last year.

"Right here in Chicago, we are the No. 1 retail brand - not one year running, but five years in a row," said Brian Sweeney, U.S. vice president of Chevrolet. "Our Chicago dealers have had leadership roles, and it is fueled by the great cars, trucks and crossovers you see here."

Chevrolet also introduced to track-enthusiasts the Camaro 1LE performance package for both the V6 and V8 models. The package builds off the success of the previous-generation 1LE, offering increased handling and track performance. In response to customer demand, Chevrolet will offer two distinct 1LE packages, for both V6 and V8 models, each visually distinguished with a satin black hood, specific wheels and more cooling.

The 2017 Trax is expected to go on sale this fall. The new 1LE packages will be available in late 2016 on 2017 Camaro SS and LT V-6 coupes, equipped with manual transmissions. Pricing and performance data will be announced at a later date. 

Chevrolet also expanded its popular Midnight Edition to include all three of its pickups: the midsize Colorado, the half-ton Silverado 1500 and the Silverado 2500 Heavy Duty. All three can be seen for the first time at the 2016 Chicago Auto Show. More details to come soon from Chevrolet.

Nifty trades above 7,150 mark

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

At 9:26 AM, the S&P BSE Sensex is trading at 23,608 up 54 points, while NSE Nifty is trading at 7,176 up 13 points.

In broader market, the Midcap has gained 0.08% at 9,957 and the Smallcap index has advanced 0.62% at 10,068.

ONGC, Adani Ports, NTPC, Tata Motors, Cipla, Tata Steel and Bharti Airtel are among the gainers, whereas L&T, Coal India, TCS, HDFC, Maruti Suzuki and Asian Paints are losing sheen on BSE.

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. On macroeconomic side, India’s exports contracted during January, the 14th consecutive monthly decline. Exports fell 13.6% on yoy basis, impacted by weak overseas demand. On inflation side, wholesale prices fell 0.0% during January, registering the contraction for the 15th consecutive month.

Most Asian markets are higher with Japan's benchmark Nikkei up a percent. China's CSI300 has gained 2.07%. Hong Kong's Hang Seng is up 1.44%, South Korea's Kospi is up 1.2% and Taiwan's TWSE is higher by 1.3%.  The result season is mostly out of the way and few names to announce their numbers include Net 4 India and Tirupati Inks.

The Government has extended for the second time U.K. Sinha’s term as Chairman of Securities & Exchange Board of India (SEBI).

Bharat Petroleum Corporation Ltd. (BPCL) says that the expansion work at its Kochi refinery is on track for scheduled commissioning in May this year, with about 90 per cent of the work done.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

The Government announced the first-ever policy for the capital goods sector which envisages creation of 21 million additional jobs by 2025.

The Union Petroleum and Natural Gas Minister Dharmendra Pradhan has stressed on the need to enhance domestic production of Oil & Gas through process and technical improvements, besides enhanced exploratory coverage.

Piyush Goyal, Union Minister of State(IC) for Power, Coal and New & Renewable Energy said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British Telecom (BT), Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to forge an international operator alliance to bring innovative products and services, according to reports.

Titagarh Wagons mulls merger of ship building biz

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

However, the formal approval for the Scheme of Amalgamation before the Calcutta High Court will take some time, according to the financial newspaper.

The merger would mark Titagarh Wagon’s entry into ship building and would also include manufacturing of barges for the Indian Navy, according to the daily.

Titagarh Wagons Ltd ended at Rs. 127.85, up by Rs. 11.4 or 9.79% from its previous closing of Rs. 116.45 on the BSE.

The scrip opened at Rs. 120 and touched a high and low of Rs. 129.9 and Rs. 120 respectively. A total of 2294686(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1475.19 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 174.6 on 10-Mar-2015 and a 52 week low of Rs. 86 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 141.4 and Rs. 108 respectively.

The promoters holding in the company stood at 46.11 % while Institutions and Non-Institutions held 29.38 % and 24.5 % respectively.

The stock traded above its 50 DMA.

Punjab National Bank declares United Breweries (Holdings) as wilful defaulters

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

United Breweries (Holdings) Ltd has informed BSE that the Punjab National Bank vide its letter dated February 11, 2016, received by the Company on February 15, 2016, has declared the company as a ‘Willful Defaulter’.

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

Stock view:

United Breweries (Holdings) Ltd ended at Rs. 22.7, up by Rs. 1.25 or 5.83% from its previous closing of Rs. 21.45 on the BSE.

The scrip opened at Rs. 22.05 and touched a high and low of Rs. 23.2 and Rs. 22.05 respectively. A total of 152034(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 151.68 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 35.8 on 10-Nov-2015 and a 52 week low of Rs. 17 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 26.55 and Rs. 20.3 respectively.

The promoters holding in the company stood at 52.34 % while Institutions and Non-Institutions held 4.88 % and 42.78 % respectively.

The stock traded above its 100 DMA.