RIL up; Reliance Jio begins sale of 4G-enabled Lyf phones

Reliance Jio has begun selling its Lyf smartphones with SIM cards enabled for the high-speed service in India's bigger cities.

RIL Ltd stock was up by 1% at Rs. 961.Reliance Jio has begun selling its Lyf smartphones with SIM cards enabled for the high-speed service in India's bigger cities, says media reports.

The SIM cards come with three months of free unlimited data and 4,500 minutes of voice calls.

The scrip opened at Rs. 957.5 and has touched a high and low of Rs. 963.6 and Rs. 957.5 respectively. So far 313431(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 309977.81 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 819 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 981.45 and Rs. 945.25 respectively.

The promoters holding in the company stood at 45.15 % while Institutions and Non-Institutions held 32.38 % and 19.5 % respectively.

The stock is currently trading below its 50 DMA.

BSE companies’ market cap crosses Rs.100 trillion after six months

The current market cap of all BSE listed companies stands at Rs.1,00,29,073 crore. Earlier, the same was seen above this level at Rs.1,00,93,395 crore on January 1, 2016.

Amidst increasing volatility in the Indian stock markets due to weak global economic cues, gyrating prices of certain commodities and weakening rupee against the US dollar, the investors have been on a bumpy ride in 2016 so far.

In the wake of shrinking profitability of India Inc., and rising NPAs of banks, some respite is seen for the market as the total market capitalization of BSE listed firms has crossed Rs.100 lakh crore-mark today, in the early trades.

The current market cap of all BSE listed companies stands at Rs.1,00,29,073 crore. Earlier, the same was seen above this level at Rs.1,00,93,395 crore on January 1, 2016.

In CY 2016, the Sensex has risen 3.24% so far. The index has tumbled to a low of 22,495 on the day when the NDA government had announced the Union Budget for FY17. However, since then, the market barometer has sharply surged nearly 17%.

ONGC plans to invest Rs. 4,000 crore

The company has sold a 25% stake in its North Karanpura CBM block to Prabha Energy Pvt. Ltd (PEPL), a unit of Deep Industries Ltd, says report.

Oil and Natural Gas Corp. Ltd is planning to invest Rs.4,000 crore to develop its four coal bed methane (CBM) gas blocks, according to reports.

Report says that the two of the four blocks—in North Karanpura and Bokaro, in Jharkhand—would start production by the second half of 2017-18.

The company has sold a 25% stake in its North Karanpura CBM block to Prabha Energy Pvt. Ltd (PEPL), a unit of Deep Industries Ltd, says report.

ONGC was allocated nine CBM blocks, of which it holds four, located in Jharia, Bokaro, North Karanpura and Raniganj in West Bengal. 

Top 20 stocks in focus: HUL, BPCL, Yes Bank

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

BPCL: BPCL has announced that it has received shareholder nod to increase FII Investment Limit to 49%.

HUL: HUL has announced new appointment to Management Committee. Food & Refreshments Biz will now be organised into two Separate Businesses of Food & Refreshments.

ONGC: Oil and Natural Gas Corp. Ltd is planning to invest Rs.4,000 crore to develop its four coal bed methane (CBM) gas blocks, according to reports.

Yes Bank: Yes Bank is likely to raise USD1bn from overseas investors in the current financial year as it has recently got government approval for increasing foreign investment to 74%.

Kwality: The company is planning to invest Rs.5 bn for expansion, said it has successfully come out of a branding-related legal dispute after  Graviss holding withdrew its case on May 31.

M&M:  M&M has launched its second fully-electric passenger car - e-Verito with prices starting at 9.50 lakh (ex-showroom, Delhi) for the D2 variant, going up to 10 lakh for the range-topping D6 trim. 

NMDC: NMDC has announced that a meeting of the Board of Directors of the Company will be held on June 07, 2016, inter alia, to consider the proposal for Buy Back of the fully paid-up equity shares of the Company of face value of Rs. 1 each.

Power Finance Corporation: PFC has announced that it has acquired stake in Shree Maheshwar Hydel Power Corp.

Oricon Enterprises: Oricon Enterprises has entered into a Joint Development Agreement with Tapir Realty Developers Ltd., a subsidiary of IndiaBulls Real Estate Ltd. for development of its 7810 sq. mtrs. Plot in Mumbai.

Wipro: Wipro announced that it has open sourced its big data product, Big Data Ready Enterprise (BDRE), which makes big data technology adoption simpler and faster by optimizing big data workloads under an integrated unified framework.

Reliance Infrastructure Ltd: Reliance Energy, the Mumbai Distribution Arm of Reliance Infrastructure Ltd. has recorded 1,856 mw on June 1, 2016, beating the last year’s peak recorded at 1,839 mw on October 14, 2015.

Rajesh Exports: Rajesh Exports is eyeing $150-170mn acquisition in Dubai to expand refining capacity and increase margins, according to reports.

MOIL: Moil Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 7 to consider the proposal for Buyback of the fully paid-up equity shares of the Company.

TVS Motor Company: Adding a new chapter to its iconic brand: TVS XL, TVS Motor Company today announced the launch of its new four stroke TVS XL 100 in Himachal Pradesh. 

Reliance Energy: Reliance Energy, the Mumbai Distribution Arm of Reliance Infrastructure Ltd. has recorded 1,856 mw on June 1, 2016, beating the last year’s peak recorded at 1,839 mw on October 14, 2015.

Career Point: The Company has invested Rs. 1.40 crore in its wholly owned subsidiary 'Career Point Institute of Skill Development Pvt. Ltd.' by subscribing 14 Lac equity shares of Rs. 10/- each at a price of Rs. 10/- per equity share.

Shree Pushkar Chemicals & Fertilisers Ltd: The company announced Commission of the additional capacity of Vinyl Sulphone as on May 31, 2016.

Navkar Corporation Ltd: Navkar Corporation has received contract for operation and management of KRIL’s Container Freight Station (CFS)/ICD and Handling of Container Trains at Hazira Terminal, Gujarat. 

Asian Granito India: The company launched new product 1000x1000mm Jumbo Double Charge Vitrified Tiles and 800x800mm Imperio Double Charge Vitrified Tiles

Satkar Finlease: Satkar Finlease to consider issue of equity shares on preferential basis

Bank of Maharashtra: The bank has decided to raise capital through FPO/Rights issue/QIP etc., upto Rs.1,000 crore, subject to the necessary approvals.

Opening Bell - Sensex rallies over 100 points; Nifty above 8200

At 9:15 AM, the S&P BSE Sensex is trading at 26,977 up 135 points, while NSE Nifty is trading at 8,246 up 32 points.

At 9:15 AM, the S&P BSE Sensex is trading at 26,977 up 135 points, while NSE Nifty is trading at 8,246 up 32 points.

The Indian rupee opened higher by 8 paise at 67.23/$ against US Dollar on Friday as against the previous close of 67.29/$. The rupee regained lost ground, helped by buoyancy in the domestic equities. In the cross currency segment, Japanese Yen is rebounding strongly against the greenback, inspite of a gloomy economic landscape.

Macro data flow has been positive and the Indian economy could more than double to $5 trillion in a "matter of few years" affirms FM Arun Jaitley. Reforms could propel India to becoming a more developed economy besides having retaining the tag if being the fastest growing large economy, the FM stated. On the economy front, FM Arun Jaitley said that India will attempt to keep proposed GST rate as moderate as possible."At what rate the GST Council will start it, I don't know...there have been recommendations which have been made by expert committees," Jaitley was quoted as saying.

Banking stocks could see action as speculation builds up on what the RBI would do at its review meet on Tuesday. ECB kept interest any rate hike on hold.  The US Federal Reserve officials meet on 14-15 June to discuss their policy. Nikkei Services and Composite PMI will be in focus. Asian markets are trading higher. Nikkei 225 and Hang Seng are marginally up.
 
Wall Street ended higher. All the eyes are on Payrolls report and whether Federal Reserve will hike interest rates as soon as its June 14-15 meeting. The Dow Jones rose 48.89 points, or 0.27 percent, the Nasdaq Composite added 19.11 points, or 0.39 percent, to 4,971.36.

OPEC failed to agree a clear oil-output strategy on Thursday as Iran insisted on steeply raising its own production, though Saudi Arabia’s new oil minister promised not to flood the market and sought to mend fences within the organization. Oil prices rose 0.3% on Thursday after the meeting.