Crude Oil futures edge lower on weak overseas demand

Crude Oil futures edge lower on weak overseas demand

Sep 08,2014   02:13 Hrs IST

Crude Oil futures traded down on MCX as speculators exited positions in the energy commodity tracking a weak trend in the overseas market after the weakest US jobs growth this year signaled doubts over the labour market recovery in the world’s biggest economy, dimming the demand outlook for the fuel. The contract for September delivery was trading at Rs 5600.00, down by 0.74% or Rs 42.00 from its previous closing of Rs 5642.00. The open interest of the contract stood at 16320.00 lots. The contract for October delivery was trading at Rs 5603.00, down by 0.67% or Rs 38.00 from its previous closing of Rs 5641.00. The open interest of the contract stood at 2723.00 lots on MCX.

Wipro plans to invest in robotics, artificial intelligence: Report

Wipro plans to invest in robotics, artificial intelligence: Report

Sep 08,2014   11:07 Hrs IST

In a bid to boost internal innovation, Wipro has reportedly identified focus areas and has also allocated budgets for these. Among others, it is investing in innovation in cognitive technologies, artificial intelligence, man-machine interface, robotics, smart devices and open source. These could become revenue-accretive in two to five years. Over recent months, the company has increasingly shown interest in benefiting from innovation in the technology system. A few months earlier, it followed the footsteps of some global peers by setting up a venture capital fund to look at investing in early-to-middle stage technology start-ups globally. Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.

HDFC Bank trades in fine fettle on BSE

HDFC Bank trades in fine fettle on BSE Sep 08,2014   11:05 Hrs IST HDFC Bank is currently trading at Rs. 856.50, up by 7.75 points or 0.91 % from its previous closing of Rs. 848.75 on the BSE. The scrip opened at Rs. 849.00 and has touched a high and low of Rs. 858.00 and Rs. 849.00 respectively. So far 28807 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 863.80 on 03-Sep-2014 and a 52 week low of Rs. 587.40 on 06-Sep-2013. Last one week high and low of the scrip stood at Rs. 863.80 and Rs. 839.00 respectively. The current market cap of the company is Rs. 206735.97 crore. The promoters holding in the company stood at 22.56 % while Institutions and Non-Institutions held 43.98 % and 16.56 % respectively. Private sector lender HDFC Bank is planning to open 24 new branches in Odisha by the end of this fiscal. Presently, the bank is operating with 97 branches in the state. The bank has opened 16 branches in unbanked locations since April, 2014 and the private bank aims to cover all the 30 districts by opening branches in Boudh, Kandhamal and Nuapada districts where it does not have any presence. It also plans to open about 50 new ATMS in the state. HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 28.9 million customers. As of June 30, 2014, the bank had a distribution network with 3,488 branches and 11,426 ATMs in 2,231 cities/towns.

Sep 08,2014   11:05 Hrs IST

HDFC Bank is currently trading at Rs. 856.50, up by 7.75 points or 0.91 % from its previous closing of Rs. 848.75 on the BSE. The scrip opened at Rs. 849.00 and has touched a high and low of Rs. 858.00 and Rs. 849.00 respectively. So far 28807 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 863.80 on 03-Sep-2014 and a 52 week low of Rs. 587.40 on 06-Sep-2013. Last one week high and low of the scrip stood at Rs. 863.80 and Rs. 839.00 respectively. The current market cap of the company is Rs. 206735.97 crore. The promoters holding in the company stood at 22.56 % while Institutions and Non-Institutions held 43.98 % and 16.56 % respectively. Private sector lender HDFC Bank is planning to open 24 new branches in Odisha by the end of this fiscal. Presently, the bank is operating with 97 branches in the state. The bank has opened 16 branches in unbanked locations since April, 2014 and the private bank aims to cover all the 30 districts by opening branches in Boudh, Kandhamal and Nuapada districts where it does not have any presence. It also plans to open about 50 new ATMS in the state. HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 28.9 million customers. As of June 30, 2014, the bank had a distribution network with 3,488 branches and 11,426 ATMs in 2,231 cities/towns.

Bharat Forge strengthens on divesting 50% stake in Impact Automotive Solutions

Bharat Forge strengthens on divesting 50% stake in Impact Automotive Solutions

Sep 08,2014   10:45 Hrs IST

Bharat Forge is currently trading at Rs. 866.95, up by 8.55 points or 1.00% from its previous closing of Rs. 858.40 on the BSE. The scrip opened at Rs. 860.05 and has touched a high and low of Rs. 870.25 and Rs. 850.00 respectively. So far 14756 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 875.50 on 05-Sep-2014 and a 52 week low of Rs. 244.00 on 30-Sep-2013. Last one week high and low of the scrip stood at Rs. 875.50 and Rs. 788.35 respectively. The current market cap of the company is Rs. 19948.14 crore. The promoters holding in the company stood at 46.74% while Institutions and Non-Institutions held 30.60% and 22.65% respectively. Bharat Forge has divested its 50 per cent stake in Impact Automotive Solutions, which was formed in 2010 as a joint venture with KPIT Technologies. The stake has been sold to KPIT Technologies for Rs 10.80 crore. The initial investment was Rs 14.91 crore. Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.

Reliance MF introduces Fixed Horizon Fund - XXVII - Series 5

Reliance MF introduces Fixed Horizon Fund - XXVII - Series 5

Sep 05,2014   09:11 Hrs IST

Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Fixed Horizon Fund - XXVII - Series 5, a close ended income scheme. The NFO opens for subscription on Sep 05, 2014 and closes on Sep 15, 2014.  No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter. The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Amit Tripathi. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the following securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility - Central and State Government securities and other fixed income/ debt securities.

TCS to double capacity at its Hyderabad delivery centre

TCS to double capacity at its Hyderabad delivery centre

Sep 05,2014   10:02 Hrs IST

Tata Consultancy Services (TCS) is planning to double its capacity at its largest delivery centre in Adibatla in Hyderabad.  The capacity addition of 28,000 employees will happen over a period of three to four years. The new delivery centre commenced its first phase of operations on September 1 and has 27,000 seats and built over an area of 79 acres. Moreover, the company with a headcount of over 3 lakh announced a projection of adding 55,000 employees in FY 2014-15. At present, the company has 26,000 employees across delivery locations in Hyderabad and adds around 3,000 to 3,500 workforce annually. TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

United Breweries completes acquisition of brewery assets of Pacific Spirits

United Breweries completes acquisition of brewery assets of Pacific Spirits

Sep 05,2014   10:07 Hrs IST

United Breweries has concluded the acquisition of the brewery assets viz., land, building, plant, machinery etc. of Pacific Spirits, located at Shahjahanpur, district Alwar, Rajasthan at a negotiated consideration of Rs 105 crore. The company has taken this step pursuant to completion of various formalities with regard to endorsement of statutory licenses in the name of United Breweries. With this acquisition, the company will be able to expand its production capacity in the state of Rajasthan to cater to the expected further growth in the market. Pacific Spirits has not been operational for a while and the company will further invest to make the brewery operational before the coming season. This acquisition will also create additional employment opportunities in the vicinity, upon the brewery becoming operational. United Breweries is maker of Kingfisher beer and Heineken beer in India. Kingfisher is largest selling beer in India that commands 29% of market share. The company has presence in 52 countries.

Wipro rises on winning 5-year strategic infrastructure management contract from PMI

Wipro rises on winning 5-year strategic infrastructure management contract from PMI

Sep 05,2014   09:51 Hrs IST

Wipro is currently trading at Rs. 581.15, up by 4.55 points or 0.79% from its previous closing of Rs. 576.60 on the BSE. The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 584.00 and Rs. 578.75 respectively. So far 25918 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 610.50 on 26-Feb-2014 and a 52 week low of Rs. 447.00 on 16-Sep-2013. Last one week high and low of the scrip stood at Rs. 584.00 and Rs. 559.85 respectively. The current market cap of the company is Rs. 142283.40 crore. The promoters holding in the company stood at 73.44% while Institutions and Non-Institutions held 13.36% and 11.26% respectively. Wipro, a leading global information technology, consulting and business process services organization, has won a contract with Philip Morris International Inc. (PMI). PMI is the leading international tobacco company, with products sold in more than 180 markets. As a part of the five-year agreement, Wipro will provide a full suite of IT infrastructure management services to PMI. The IT infrastructure services will support a host of functions at PMI including management and support of its servers, storage, backup and applications infrastructure. Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.

HCL Technologies trades higher on the bourses

HCL Technologies trades higher on the bourses

Sep 04,2014   12:49 Hrs IST

HCL Technologies is currently trading at Rs. 1662.95, up by 4.90 points or 0.30% from its previous closing of Rs. 1658.05 on the BSE. The scrip opened at Rs. 1665.00 and has touched a high and low of Rs. 1673.30 and Rs. 1657.15 respectively. So far 21343 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1673.30 on 04-Sep-2014 and a 52 week low of Rs. 985.00 on 16-Sep-2013. Last one week high and low of the scrip stood at Rs. 1673.30 and Rs. 1625.05 respectively. The current market cap of the company is Rs. 116840.67 crore. The promoters holding in the company stood at 61.64% while Institutions and Non-Institutions held 32.58% and 5.77% respectively. HCL Technologies, a leading global IT services provider, has been selected by Sydney Trains as a strategic partner to provide bespoke systems support services. HCL will provide end-to-end application management and support services to transform the company’s IT landscape. Leveraging its integrated service delivery framework MaSCOT (Managed Services with Continuous improvement to Transformation) and ALT ASM, HCL will provide application development, support and maintenance services to support business and IT users improving application stability and availability for Sydney Trains. HCL will use its ASSeT Transition framework to ensure a seamless and risk free transition with zero business disruption. HCL will also be responsible for optimising the company’s application portfolio in alignment with business processes across its Australian operations. HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL utilises domain-led business process repositories, and provides tools and framework led IT and business transformation through dedicated centres of excellence for the transport and logistics industry. HCL serves eight of the top 15 logistics service providers, seven of the top 12 airlines, nine of the top 15 railroads, two of the top five hotels and five national mail companies trust HCL for their IT and business transformation.

Marico Kaya soars on RBI nod for hike in FII limit

Marico Kaya soars on RBI nod for hike in FII limit

Sep 04,2014   11:52 Hrs IST

Marico Kaya Enterprises is currently trading at Rs. 643.05, up by 18.80 points or 3.01% from its previous closing of Rs. 624.25 on the BSE. The scrip opened at Rs. 639.00 and has touched a high and low of Rs. 650.00 and Rs. 636.00 respectively. So far 67,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 650.00 on 04-Sept-2014 and a 52 week low of Rs. 214.40 on 03-July-2014. Last one week high and low of the scrip stood at Rs. 650.00 and Rs. 553.75 respectively. The current market cap of the company is Rs. 829.28 crore. The promoters holding in the company stood at 59.69% while Institutions and Non-Institutions held 33.14% and 7.17% respectively. Reserve Bank of India (RBI) has notified that foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 40 percent of the paid up capital of Marico Kaya Enterprises under the Portfolio Investment Scheme. The Reserve Bank has stated that the company has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs. The purchases could be made through primary market and stock exchanges and would be subject to Regulation 5(2) of FEMA Notification No.20 dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank. Marico Kaya Enterprises (MaKE) was incorporated on January 19, 2013 as a wholly owned subsidiary of Marico. In October 2013, MaKE demerged from Marico and is now a separate company. MaKE owns the specialized skin care business of Kaya (erstwhile a subsidiary of Marico).