Railway stocks trade on a mixed note ahead of Rail Budget 2016

Siemens slipped 1.7% to Rs.999.40; Titagarh Wagons stock trading flat 0.4% to Rs.128; and Texmaco Rail & Engineering gained 0.6% to Rs.134.20.

Railway stocks trading on a mixed note on BSE ahead of the rail budget on Thursday. Shares in Kalindee Rail Nirman Engineers trading flat 0.3% to Rs.138.   The scrip opened at Rs. 136.1 and has touched a high and low of Rs. 140.9 and Rs. 128.7 respectively. So far 720482(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 226.68 crore.

Siemens slipped 1.7% to Rs.999.40. The scrip opened at Rs. 1018 and has touched a high and low of Rs. 1018 and Rs. 993 respectively. So far 156126(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 36220.99 crore.

Titagarh Wagons stock trading flat 0.4% to Rs.128. The scrip opened at Rs. 125.7 and has touched a high and low of Rs. 129.75 and Rs. 120.3 respectively. So far 4363906(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1465.96 crore.

Texmaco Rail & Engineering gained 0.6% to Rs.134.20. The scrip opened at Rs. 134 and has touched a high and low of Rs. 136.95 and Rs. 126.25 respectively. So far 972560(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2806.24 crore.

Railway Minister Suresh Prabhu is planning to boost Indian Railways’ capex by nearly 50%, according to reports. Prabhu Prabhu is planning to keep the transporter’s operating ratio (OR) for this fiscal at a level of below 90%.

$25 million Kulfi bonanza for Indian Start ups

500 Startups has launched a $25 million fund which will be focused on India, Bangladesh and Sri Lanka

Global venture capital seed fund and startup accelerator , 500 Startups has launched a $25 million fund which will be focused on India, Bangladesh and Sri Lanka.

Named as ‘Kulfi 500’, the new fund is expected to make about 25 to 50 deals per year, focusing majorly on fledgling companies with market-fit products and demonstrated traction.

The Silicon Valley based investment firm, one of the most active investor in Asia which writes small cheques of a few hundred thousand dollars stated that India is currently the fastest growing economy. Also with the median age in India being 27.3 years old and increasing smart phone penetration gives a great opportunity to invest in India for future growth.

500 Startups provides early-stage companies with up to $250,000 in funding, a startup accelerator program, and conducts events like SmashSummit, UnSexy, and GeeksOnaPlane. It has startup mentors around the world, and a community of startup founders, assisting new ventures under the program.

500 Startups has already invested in over 50 startups in India. ZipDial, SourceEasy, Instamojo, CultureAlley, SilverPush, KartRocket, and Headout are few of the many start-ups that have received funding. 500 Startups has a $200 million corpus and has investments in more than 1,500 companies across 50 countries. In last year alone it funded over 20 start-ups in India.

“Although we are sector-agnostic, we will take a closer look at financial technology, edutech, health and wellness, data analytics, content, SaaS (software-as-a-service) and small and medium businesses," Pankaj Jain, partner at 500 Startups and runs the 500 Kulfi fund, wrote in a blog post on the company's website.

Besides, 500 startups has also announced the launch of two new funds, including a $25 million fintech fund and a $25 million vehicle focused on India. 500 FinTech led by Sheel Mohnot, an investor and entrepreneur who joined 500 Startups after Labor Day, will look at lending, insurance, alternative investing platform and bitcoin.

Punj Lloyd wins Rs 308 crore infrastructure order in Dubai

The company has bagged order in Dubai.

Punj Lloyd Ltd has announced that it has bagged Rs. 308 crore infrastructure order in Dubai.

The scrip opened at Rs. 22.05 and has touched a high and low of Rs. 23.2 and Rs. 21.85 respectively. So far 597971(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 737.26 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 40.75 on 28-Feb-2015 and a 52 week low of Rs. 20.75 on 20-May-2015. Last one week high and low of the scrip stood at Rs. 23.4 and Rs. 22 respectively.

The promoters holding in the company stood at 36.93 % while Institutions and Non-Institutions held 9.84 % and 53.24 % respectively.

The stock is currently trading above its 200 DMA.

KMB to buy 19.9% in Airtel’s payments bank for Rs 98 crore and other top Banking news of the day

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

Kotak Mahindra Bank, the country’s third-biggest bank by market capitalisation, has signed a share subscription and shareholders agreement with Bharti Airtel and its 100% subsidiary Airtel M Commerce Services Ltd. (AMSL) to buy a 19.9% stake in the latter for Rs 98.38 crore.

Reserve Bank of India has, with the concurrence of the Government of India, decided to extend the SAARC Currency Swap Arrangement till November 14, 2017.

It may be recalled that the SAARC Swap Arrangement was offered by the RBI to SAARC nations on November 15, 2012. 

The government is considering a proposal to increase the cap on foreign institutional investment in public sector banks to 49 per cent from 20 per cent. The move comes at a time public sector banks need equity capital while their stocks have taken a hammering after reporting huge losses in the third quarter due to a sharp rise in non-performing assets, banking industry sources said. 

Standard Chartered on Tuesday said it has incurred a pre-tax loss of $981 million from its India operations owing to rise in impaired assets to $1.3 billion in 2015, the bank said in its annual report. 

The state government is committed to extending banking services to all gram panchayats (GPs) that don't have banks, chief secretary Aditya Prasad Padhi said here on Monday. 

Consolidation of state-run lenders has climbed to the top of the banking reforms agenda as the cleaning up of their account books gets under way.

Government owned IDBI Bank would sell some of its non-core assets and would place equity with the largest domestic investor, Life Insurance Corporation to raise capital. On Tuesday, the government owned bank, IDBI Bank, received approval from market regulator, Sebi, to raise Rs 3771 crore from qualified investors. 

Unsure about valuations and interest from investors, public sector banks are yet to actively pursue the sale of non-core assets as a way to boost their capital base, which has seen an erosion due to the increase in stressed assets. 

Offer for sale sails through! NTPC down 2.7%

The government proposes to divest 5% of its stake in NTPC by tendering around 41.2 crore shares at a floor price of Rs 122 per share, a stock exchange filing by NTPC said.

NTPC tumbled 2.7% to Rs.120.75 on BSE. The stock fell for the second consecutive session.  With Life Insurance Corporation having subscribed to around 41% of NTPC’s issue of shares on Tuesday, the power producer’s offer for sale sailed through attracting a total subscription of 1.8 times.

The 32.98 crore shares reserved for institutional investors attracted a subscription of 57.4 crore shares, according to the BSE.

The government proposes to divest 5% of its stake in NTPC by tendering around 41.2 crore shares at a floor price of Rs 122 per share, a stock exchange filing by NTPC said.

The scrip opened at Rs. 121.9 and has touched a high and low of Rs. 121.9 and Rs. 120.4 respectively. So far 1169769(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 102161.25 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 164.7 on 12-Mar-2015 and a 52 week low of Rs. 107.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 130.65 and Rs. 122.6 respectively.

The promoters holding in the company stood at 74.96 % while Institutions and Non-Institutions held 22.77 % and 2.28 % respectively.

The stock is currently trading above its 50 DMA

Punjab National Bank slips 1.2%; declares 900 firms as wilful defaulters

The bank has declared 904 entities as wilful defaulters with outstanding loan of Rs. 10,869.71 crore at the end of December.

Punjab National Bank slipped 1.2% to Rs.71.80 on BSE. The bank has declared a list of about 900 wilful defaulters, including Winsome Diamonds & Jewellery, Zoom Developers and Nafed, which owe it nearly Rs. 11,000 crore. The bank has declared 904 entities as wilful defaulters with outstanding loan of Rs. 10,869.71 crore at the end of December.

The scrip opened at Rs. 70.7 and has touched a high and low of Rs. 72.05 and Rs. 69.45 respectively. So far 5176897(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 14275.35 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 180.5 on 17-Aug-2015 and a 52 week low of Rs. 69.4 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 77.75 and Rs. 69.4 respectively.

The promoters holding in the company stood at 62.08 % while Institutions and Non-Institutions held 32.27 % and 5.64 % respectively.

The stock is currently trading above its 200 DMA.

Tata Motors dips 1.6%; cos Sanand plant workers go on strike

Around 300 workers at its Sanand plant in Gujarat have gone on flash strike to press for reinstatement of around 20 of their colleagues who have been suspended for serious misconduct.

Tata Motors dipped 1.6% to Rs.313.50 on BSE. Around 300 workers at its Sanand plant in Gujarat have gone on flash strike to press for reinstatement of around 20 of their colleagues who have been suspended for serious misconduct.

The scrip opened at Rs. 316 and has touched a high and low of Rs. 316 and Rs. 310.25 respectively. So far 1551066(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 104492.21 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 594.14 on 02-Mar-2015 and a 52 week low of Rs. 266 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 324.95 and Rs. 298.65 respectively.

The promoters holding in the company stood at 33.01 % while Institutions and Non-Institutions held 41.04 % and 25.95 % respectively.

The stock is currently trading above its 200 DMA.

YES Bank wins First Ever Green Bond Pioneer Award in London

The Green Bond Pioneer Awards are organized by Climate Bonds Initiative (CBI), an international investor-focused not-for-profit which focuses on mobilizing the $100 trillion bond market for climate change solutions.

YES Bank, India’s fifth largest private sector bank, has been awarded the prestigious Green Bond Pioneer Award for being the ‘Pioneers in Emerging Markets-India’ in an award ceremony at London Stock Exchange (LSE), London. 

The Green Bond Pioneer Awards are organized by Climate Bonds Initiative (CBI), an international investor-focused not-for-profit which focuses on mobilizing the $100 trillion bond market for climate change solutions.

YES BANK has been recognized for its pioneering efforts in the Green Bonds market; including the highly successful issuance of India’s first ever Green Infrastructure Bonds. In 2015, YES BANK had issued India’s first ever Green Infrastructure Bonds for Rs. 1000 Crore (USD 160 million) with green shoe option that witnessed strong demand from leading global and domestic investors. Recently, YES BANK and International Finance Corporation (IFC) opened trading of the world’s first Green Masala Bond of INR 3.15 billion issued by IFC and listed on the London Stock Exchange. IFC has invested the proceeds of the bond in YES BANK’s Green Bonds, and the proceeds will be used by YES BANK to fund Renewable Energy projects including solar power and wind power projects.

This Award is a global recognition and acknowledgment of YES BANK’s leadership in establishing the potential of green bonds in India, energizing market activities and facilitating positive engagements with investors, governments and businesses. YES BANK is the only Indian bank to be recognized in these first ever Green Bond Awards. Winners in other categories include World Bank, Bank of America Merrill Lynch, Peoples Bank of China (PBoC) and Ile De France amongst others.

CBI has launched the Awards at its inaugural Conference on Global Leadership in the Green Bonds Sector to increase awareness on green bonds in the global investor and corporate community, and also to acknowledge global leadership in the sector.  With eminent partners such as the London Stock Exchange Group, Principles of Responsible Investments (PRI), UNEP Inquiry, International Cooperative and Mutual Insurance Federation (ICMIF) and Responsible Investor.com, the awards and the conference witnessed participation from Institutional investors, commercial and development banks, and consultancy firms from around the globe.

On the launch of the awards ceremony, Christiana Figueres, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC) said “I applaud the effort to raise the profile of green bonds and acknowledge leaders in the sector. This is exactly what we need as a follow up to last year’s UN Climate Change Conference in Paris.” She went onto congratulate winners of the first to congratulate this year’s first ever winners of the green bond awards, and encouraged them for the real on-the-ground movement they have undertaken, that will spur the transformation that spells success for the Paris agreement”.

“We are extremely proud to receive this prestigious recognition by Climate Bonds Initiative”, Namita Vikas, Group President – Responsible Banking and Chief Sustainability Officer, YES BANK said on receiving the award. “YES BANK aims to be at the forefront of mainstreaming climate finance within the global financial sector and is striving continuously to set industry benchmarks towards creating a sustainable ecosystem. YES BANK has been the first Indian Bank to issue Green Infrastructure Bonds in India. We hope that this recognition will further encourage institutions in the Asia Pacific region to adopt best practices that are directly linked to sustainable growth and development”.

Speaking about the awards, Climate Bonds CEO, Sean Kidney said, “The award recipients are the pioneers of the market, organizations at the forefront of the global financial sectors response to the investment challenges posed by climate change. They are laying new foundations for the capital flows needed to achieve the commitments within the national climate change plans tabled at COP21.”

RBI announces the extension of SAARC Swap Arrangement

It may be recalled that the SAARC Swap Arrangement was offered by the RBI to SAARC nations on November 15, 2012.

Reserve Bank of India has, with the concurrence of the Government of India, decided to extend the SAARC Currency Swap Arrangement till November 14, 2017.

It may be recalled that the SAARC Swap Arrangement was offered by the RBI to SAARC nations on November 15, 2012. Under this arrangement, RBI will offer Swap Arrangement up to and overall amount of US $ 2 billion both in foreign currency and Indian rupee. The facility will be available to all SAARC member countries, viz., Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka. 

The swap amount available to various member central banks has been arrived at broadly based on two months import cover subject to a floor of US$ 100 million and a maximum of US$ 400 million per country.

Indian ADRs...HDFC Bank, ICICI Bank slip by 4-5%

US stock indices tumbled on Wednesday after a crack in oil prices sent energy and bank shares sharply lower.

US stock indices tumbled on Wednesday after a crack in oil prices sent energy and bank shares sharply lower.

Dow Jones Industrial Average declined by 188.88 points, or 1.1%, to end at 16,431.78. 

The S&P 500 index lost 24.23 points, or 1.3%, to close at 1,921.27. 

Both the benchmarks registered their worst fall since Feb. 11.

Nearly all of the S&P 500’s 10 sectors ended in negative territory, led by losses in Energy (down 3.2%), Materials (off 2.4%) and Financials (down 1.8%). 

Only the Utility sector ended in positive territory, up less than 0.1%.

Meanwhile, the Nasdaq Composite index slumped by 67.02 points, or 1.5%, to 4,503.58.

Crude oil prices sank after Saudi oil minister's comments dented optimism built by a proposal between Russia and Saudi Arabia to freeze production.

Separately, a popular gauge of US consumer confidence fell to a seven-month low in February.

Investors will now look forward to important readings on inflation, durable-goods orders and a second estimate of 4Q GDP, due later this week.

Company	Price in USD	% Change
Tata Motors	23.04	-3.84%
Infosys	16.65	-1.42%
Wipro	11.4	-1.30%
Dr Reddy's	44.53	-1.76%
HDFC Bank	52.78	-4.57%
ICICI Bank	5.44	-4.90%
Sify	1.02	0.99%
Rediff	0.49	4.01%
Vedanta	4.13	-4.62%
MakeMyTrip	16.22	-4.53%
WNS	27.63	-1.64%

M&M plans to invest Rs. 1,000 crore

Media report says that the company is working on developing petrol engines (1.5 litre and 1.6 litre) in-house and a 2.2-litre petrol engine in collaboration with Korean subsidiary SsangYong Motor Company (SMC).

Mahindra & Mahindra is planning to invest around Rs 1,000 crore in developing petrol engines over the next two to three years, according to reports.

Media report says that the company is working on developing petrol engines (1.5 litre and 1.6 litre) in-house and a 2.2-litre petrol engine in collaboration with Korean subsidiary SsangYong Motor Company (SMC).

Mahindra & Mahindra Ltd ended at Rs. 1211.9, down by Rs. 25.45 or 2.06% from its previous closing of Rs. 1237.35 on the BSE.

The scrip opened at Rs. 1237.35 and touched a high and low of Rs. 1239.3 and Rs. 1206.15 respectively. A total of 894834(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 75270.19 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 1441.45 on 07-Aug-2015 and a 52 week low of Rs. 1092 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 1249 and Rs. 1187.1 respectively.

The promoters holding in the company stood at 25.53 % while Institutions and Non-Institutions held 55.76 % and 12.88 % respectively.

The stock traded above its 200 DMA.

PNB, Mahindra & Mahindra, Tata Motors, Nestle India, among 18 Stocks in focus today

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

Punjab National Bank: PNB has declared a list of about 900 wilful defaulters, including Winsome Diamonds & Jewellery, Zoom Developers and Nafed, which owe it nearly Rs. 11,000 crore.

Mahindra & Mahindra: M&M has firmed up plans to invest around Rs. 1,000 crore in developing petrol engines over the next two to three years.

Future Retail Ltd: The company is preparing a digital platform and an omnichannel to complement its strong physical presence in the organised retail business, reports a business daily.

Gayatri Projects: IDFC Alternatives and I Squared Capital are in the race for acquiring a controlling stake in two projects of Gayatri Projects, reports a business daily.

Kotak Mahindra Bank: Kotak Mahindra Bank Ltd has announced that the Bank has signed a share subscription and shareholders agreement with Airtel M Commerce Services Limited Company (AMSL) and Bharti Airtel Limited for agreeing to acquire 9,83,82,022 equity shares at Rs. 10/- each aggregating to Rs. 98.38 crore being 19.90% of the paid-up capital of AMSL.

NTPC: Riding high on impressive interests shown by the institutional investors, the offer for sale (OFS) of NTPC Ltd, which opened for subscription, received bids for 56,62,06,819 shares in the non-retail portion as against the non-retail issue size of 32,98,18, 576 shares, which is 1.81 times more.

Tata Motors: Tata Motors' Sanand plant is facing heat over the issue of suspension of workers due to misconduct, as nearly 300 of their colleagues are now on a flash strike demaning their reinstatement.

Fortis Healthcare: The company will announce adoption of global standards for patient-centric health services, value-based medicine.

Nestle India: The top official head said that the company will take three years to recover its India revenues following the impact of the Maggi episode as per conventional wisdom but the Swiss foods giant is looking to do it faster, as per media reports.

Castrol India: The company will announce its quarterly results today. The company  will recommend a final dividend, if any for the year ended December 31, 2015.

ITD Cementation India: The company will announce its quarterly results today.

IFCI: IFCI Ltd. handed-over a Dividend Cheque of Rs.92.30 crore, which is 10% interim dividend for 2015-16 towards 55.53% of GOI equity holding in IFCI, to Arun Jaitley, Finance Minister, Government of India.

Strides Shasun: Strides Shasun Ltd have achieved closure of a strategic investment in GMS holdings through its Singapore-based subsidiary GMS Pharma Pte Ltd.

Neyveli Lignite: The company informed that Ministry of Coal has conveyed the allotment of Talabira-II & III Coal Mines in the State of Odisha to NLC by the Competent Authority in order to meet the coal requirements for the power projects of the Subsidiary companies viz., NLC Tamilnadu Power Limited (5 MTPA), Neyveli Uttar Pradesh Power Limited (10MTPA) and Sirkali Power Project (20MTPA).

HCC: HCC in joint venture with Vensar Constructions Company Ltd (VCCL), has been awarded Rs. 1114 crore contract by the Public Works Department (PWD) of Government of Manipur.

Salzer Electronics: The company has signed a Distribution Agreement with IPD Group Limited of Australia - a Leading Electrical distributor/Wholesaler and manufacturer in Australia for marketing and selling of Salzer Branded Electrical products for Solar Photovoltaic Applications in Australia and Newzeland.

Tata Steel: With an aim to cut costs and increase productivity, Tata Steel Ltd is looking to restructure its India business, reported a financial daily. Sluggish demand in domestic markets, increasing cheap imports, and shrinking profitability are considered to be the key factors behind the company’s latest move.

IDBI bank: SEBI approves IDBI bank's plan to raise Rs. 3,771 crore via QIP.

Dr. Lal Pathlabs: Dr. Lal Pathlabs, one of the leading diagnostic chains in India, is all set to expand its presence. The company has earmarked capital expenditure of Rs. 40 - 50 crore for building pathology laboratories each in Kolkata and Lucknow.

Jet Airways: Jet Airways, India’s premier international airline, announced the appointment of Rahul Taneja as Chief People Officer.