RIL collaborates with Indian Institute of Petroleum

The indigenous Benzene Recovery Unit developed by RIL and IIP will restrict benzene content to 0.2 volume per cent (vol.-%) in raffinate (return stream to gasoline).

Reliance Industries in a collaboration with Indian Institute of Petroleum (IIP) Dehradun has developed an indigenous technology to restrict benzene, a carcinogenic element in gasoline and naphtha.

Report says that the indigenous Benzene Recovery Unit developed by RIL and IIP will restrict benzene content to 0.2 volume per cent (vol.-%) in raffinate (return stream to gasoline), the company said.

Reliance Industries Ltd is currently trading at Rs. 983.65, down by Rs. 6.9 or 0.7% from its previous closing of Rs. 990.55 on the BSE.

The scrip opened at Rs. 995 and has touched a high and low of Rs. 995 and Rs. 980.2 respectively. So far 831936(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 321180.46 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. 993 and Rs. 965 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 100 DMA.

Rajan Era: Stable rupee took forex reserves to a record high

Amidst global uncertainties, India emerged as the most sought after investment destination amongst the emerging markets on the back of governmental initiatives such as ‘Make in India’, ‘Ease of Doing Business’, ‘Digital India’, and improved foreign direct investment (FDI) policy.

Dr. Raghuram Rajan’s exit (Rexit) as the RBI governor ended on a positive note as far as India’s forex reserve is concerned. During his tenure, the economy witnessed several key achievements on macro-economic front such as lowered inflation to below 5% from a high of nearly 12%; growing GDP and a stable Indian rupee against the US dollar. The country clocked highest foreign exchange reserve (forex) of US$ 363.46 billion as on June 3, 2016. Despite erratic movements in rupee against the greenback, the stability was seen mainly on the back of investor confidence in Rajan’s own words.

Amidst global uncertainties, India emerged as the most sought after investment destination amongst the emerging markets on the back of governmental initiatives such as ‘Make in India’, ‘Ease of Doing Business’, ‘Digital India’, and improved foreign direct investment (FDI) policy. However, Rajan’s role in attracting more foreign funds in India can’t be overlooked. His long-term vision and proactive changes in FDI limits of several sectors offered companies a conducive environment for growth. 

Rajan’s first year at office

On September 4, 2013, Rajan took charge as the RBI chief and in the first year itself Indian rupee appreciated by 9.66% to 60.54 as on September 3, 2014. The rupee was 67.02 against the US dollar when Rajan became the 23rd RBI governor. Despite, the rupee appreciating against the greenback, India’s forex reserve had increased over 15% to US$ 317.31 billion as on September 5, 2014, as compared to US$ 274.80 billion exactly a year ago. In the first year of Rajan, Indian equities had attracted net foreign inflow of US$ 22.39 billion buoyed by a massive 46% return in Sensex. Similarly, the debt segment had witnessed FPIs pumping in US$ 16.40 billion, which had taken the total FPI net investment in Indian securities markets to US$ 38.80 billion.

The second year

The second year saw Indian currency going upside down against the US dollar b7 9.67% to 66.40. However, the depreciation could not impact the dollar inflows in Indian economy and the nation’s forex reserve continued its upsurge for the second consecutive year for Rajan. Though at a reduced pace, India’s forex reserve had soared to US$ 349.03 billion as on September 4, 2015 as against US$ 317.31 a year ago, reflecting an increase of 10%. In the wake of increasing global economic headwinds, Indian equity markets benchmark Sensex fell by 5%. However, unshakable by the phenomenon, Indian stocks attracted FPI net investment to the tune of US$ 7.7 billion. The debt segment saw net inflows of nearly US$ 15 billion.

Last nine months

This period saw many ups and downs as the global economic scenario worsened and a conflict of interest surfaced with the government and the Central Bank. Despite this, India clocked highest forex reserve. Ever since Rajan became the RBI guv, FPIs have pumped in US$ 60.25 billion in Indian securities markets (equity + debt) as the benchmark Sensex have offered nearly 45% return.

In one of his thought-provoking addresses, Rajan stressed that the best way to have exchange rate stability is to bring down level of inflation commensurate with the global mark. He also said that our currency has been stable as investors have gained confidence in our monetary policy goals.

Yes Bank hires Goldman Sachs for QIP

Earlier in June 2014, the bank had raised $500 million (Rs2,900 crore) through a QIP.

Yes Bank has hired Goldman Sachs Group Inc. to help the lender raise as much as $1 billion through a so-called qualified institutional placement (QIP) offer, according to reports.

Earlier in June 2014, the bank had raised $500 million (Rs2,900 crore) through a QIP. 

The scrip opened at Rs. 1078 and has touched a high and low of Rs. 1079.05 and Rs. 1072.5 respectively. So far 94763(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 45251.43 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1085 on 07-Jun-2016 and a 52 week low of Rs. 590 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1078.3 and Rs. 1047.9 respectively.

The promoters holding in the company stood at 21.91 % while Institutions and Non-Institutions held 65.51 % and 12.58 % respectively.

The stock is currently trading above its 50 DMA.

Nestle India plans to launch 25 products

The company reportedly said that financially it could take a few more quarters to overcome the Rs 500-crore hit.

Nestle India is planning to launch up to 25 products across various categories, according to reports

The company reportedly said that financially it could take a few more quarters to overcome the Rs 500-crore hit.

“We have weathered the storm, although we still have two cases pending in the court. ,” Nestle India Chairman and Managing Director Suresh Narayanan was quoted as saying.

The company is focusing on rejuvenation of existing brands, adding new products and entering into new categories, says report.

Mahanagar Gas raises Rs. 309.36 crore from anchor investors

The company sold 7.34 million shares to 25 institutional investors at Rs.421 per share.

Mahanagar Gas Ltd raised Rs.309.36 crore by allotting shares to anchor investors.

The company sold 7.34 million shares to 25 institutional investors at Rs.421 per share.

The public issue will open today and will close on 23 June.

Some of the major foreign and domestic Anchor Investors are BNP Paribas, Morgan Stanley, DB International Asia Limited, Abu Dhabi Investment Authority-  Merrill Lynch Capital Market, DSP BlackRock,  SBI Life Insurance Company, ICICI Prudential MF, Kotak MF, Birla Sun Life MF, Franklin Templeton Investment Funds, UTI, Sundaram Mutual Fund and other.

GAIL (India) and BG Asia own 45% each in MGL.

Top 18 stocks in focus today: Yes Bank, Aurobindo Pharma, Rolta India

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

Aurobindo Pharma: The pharma company received USFDA approval for for Sustiva generic.

SpiceJet: SpiceJet, the country’s favourite low-cost carrier, continues to lead the Passenger Load Factor (PLF) charts among all Indian carriers by clocking over 90% PLF for 13 successive months

Mphasis: Competition Commission has cleared private equity major Blackstone's deal to buy over 50% stake in the company from HP Enterprise, as per media report.

Nestle India: Nestle India is planning to launch up to 25 products across various categories, according to reports. The company reportedly said that financially it could take a few more quarters to overcome the Rs.500 crore hit.

Cadila Healthcare: Zydus Cadila has acquired two abbreviated new drug applications (ANDA) from Teva Pharmaceutical Industries Ltd that are being divested by Israel-based company as a pre-condition to its acquisition of Allergan Plc.’s generic business.

Tata Consultancy Services: Tata Consultancy Services announced a partnership to deliver next generation cloud-based derivative post trade processing service on the Calypso platform to Sernova Financial, an innovative provider of turn-key post-trade services.

Take Solutions: The company is planning to sell its supply chain management business to focus more on the life sciences sector that contributes over 75% of revenue, as per media reports.

Uttam Galva Steels: The company has filed a reference with the Board for Industrial and Financial Reconstruction (BIFR), since it has become a sick company after eroding its net worth.

Yes Bank: Yes Bank has hired Goldman Sachs Group to raised as much as $1 billion through a qualified institutional placement offer.

Gayatri Projects: The company said it has won Rs.700 crore project, a part of larger Navi Mumbai International Airport, from CIDCO. 

Apollo Hospitals: Apollo Hospitals and Hainan Ecological Smart City Group, China sign MoU to build a state-of-the art Hospital in Hainan Province, China.

Suzlon: Suzlon Group said it has entered into a pact with CLP India for a 100 mw solar project at Veltoor in Telangana.

Hindustan Construction Company: The company is planning to raise Rs.1,000 crore through issue of securities.

Rolta India: The management is working on a solution in the interest of all stakeholders after the software service provider failed to make interest payments on bonds, says report. 

Andhra Bank: Andhra Bank has announced that the Bank is proposing to come out with 8.65% - 10 years (call option after 5 years) Unsecured Non-convertible Redeemable Basel- III Compliant Tier-2 Debt Bonds Series-C in the nature of Debentures of Rs. 10 lakh each for cash at par aggregating to Rs.1000 crores.

Supreme Infra: Supreme Infrastructure India Ltd has announ​c​ed that the company has been declared L1 in the two EPC projects of CIDCO worth Rs.397.68 crore.

Eros International: The company announced a strategic partnership with Puja Entertainment & Films.

Asian Granito: Asian Granito India Ltd has announced that High Court of Gujarat vide its Order dated June 16, 2016 has sanctioned the Scheme of Amalgamation of Artistique Ceramics Private Limited with Asian Granito India and their respective shareholders and creditors.