PM Modi arrives in Myanmar to attend ASEAN, East Asia Summits

Prime Minister Narendra Modi arrived in Myanmar as part of the first leg of his ten-day trip that will see him interact with leaders of the Association of Southeast Asian Nations (ASEAN) countries and attend the East Asia Summit (EAS). Prime Minister Modi was given a guard of honour upon his arrival at the airport.

During his interactions, Prime Minister Modi is expected to pitch for improving connectivity between India and other countries of the region. Prime Minister Modi will be visiting Australia from November 16-18 to improve and strengthen relations between the two countries. This is an Indian Prime Minister's first bilateral visit to that country since 1986. A number of agreements will be signed and announcements will be made on new initiatives. A strong delegation of CEOs will accompany Prime Minister Modi to highlight the economic interests between the two countries.

Prime Minister Modi will also participate in the G-20 Summit in Australia, following which he shall travel to Fiji. He will be the first Prime Minister to visit Fiji after former prime minister Indira Gandhi visited the island nation in 1981. Prime Minister Modi earlier in the day invited thoughts and ideas for his visit to Australia. He also shared a webpage for citizens on his twitter account to stay updated on his visit to Australia.

Infosys Implements real-time core banking platform for Discover Financial Services

Infosys, a leader in consulting, technology, outsourcing and next generation services, has successfully implemented its Finacle core banking solution for Discover Financial Services, a leading U.S. direct bank and payment services company. The new Finacle platform provides Discover with real-time processing and customer servicing for the company’s deposits portfolio, and is expected to be extended to support Discover’s installment lending products as well.

The Finacle solution helps companies enhance operational efficiency, bring new products to market, integrate and automate compliance functionality, reduce costs and deliver a superior banking experience to its customers.

Infosys is a global leader in consulting, technology and outsourcing solutions.The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.

MSCI includes Symphony in its Global Small Cap Index

Symphony is going to be included as a constituent in the MSCI (Morgan Stanley Capital International, USA) Global Small Cap Index with effect from November 26, 2014.

Symphony is the only organised player providing Industrial and commercial air cooling solutions in India. In the last 12 months, company has completed installation of industrial and ducted air coolers in 109 sites pan India.

Bosch strengthens on reporting 31% growth in Q3 net profit

Bosch is currently trading at Rs 15550.00, up by 141.55 points or 0.92% from its previous closing of Rs. 15408.45 on the BSE.

The scrip opened at Rs 15375.00 and has touched a high and low of Rs. 15870.75 and Rs. 15350.00 respectively. So far 4132 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 15629.45 on 03-Nov-2014 and a 52 week low of Rs. 8466.20 on 26-Nov-2013.

Last one week high and low of the scrip stood at Rs. 15505.00 and Rs. 15124.00 respectively. The current market cap of the company is Rs. 48824.98 crore.

The promoters holding in the company stood at 71.18% while Institutions and Non-Institutions held 18.93% and 9.90% respectively.

Bosch has posted a rise of 30.78% in its net profit at Rs 306.36 crore for the quarter ended September 30, 2014 as compared to Rs 234.25 crore for the same quarter in the previous year. Total income has increased by 19.82% at Rs 2676.43 crore for quarter under review as compared to Rs 2233.58 crore for the quarter ended September 30, 2013.

Bosch is a major player in the diesel segment and 60% of its sales come from diesel segment. It is also among the larger suppliers of common rail direct injection (CRDI) systems in India. The company buys half of the components required for the CRDI systems (by value) locally.

ICICI Prudential MF introduces Multiple Yield Fund - Series 8 - 1103 Days Plan C

ICICI Prudential Mutual Fund has launched the New Fund Offer (NFO) of ICICI Prudential Multiple Yield Fund - Series 8 - 1103 Days Plan C, a close ended income scheme. The NFO opens for subscription on Nov 11, 2014 and closes on Nov 25, 2014.  No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000.

The scheme’s performance will be benchmarked against CRISIL MIP Blended Fund Index and its fund managers are Vinay Sharma, Rahul Goswami, Aditya Pagaria and Shalya Shah.

The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the Scheme is to generate long term capital appreciation by investing a portion of the Scheme's assets in equity and equity related instruments.

FMC discontinues guar contracts for Oct, Nov & Dec 2014

Forward Markets Commission (FMC), the commodity markets regulator has discontinued guar seed and guar gum contracts for October, November and December 2014 at the MCX platform because of insufficient liquidity in them. Currently its competitor NCDEX is offering guar seed and guar gum contracts for delivery up to March 2015. The regulator has also asked exchanges to charge a minimum initial deposit amount of 5 per cent in the case of guar gum and guar seed keeping in view the recent price movement and volatility.

The prices of guar seed and guar gum in the futures market have come under pressure due to the arrival of guar crop. As per the exchange data, futures price of guar seed for December month delivery at NCDEX is quoting over Rs. 5,000 per quintal now againast Rs. 6,540 in August. Similarly, the futures price of guar gum has declined to Rs. 14,200 per quintal from the peak of Rs. 17,800 in the same period.

NSE Corporate Bonds Trading report

As per the NSE data, POWER FINANCE CORPORATION LTD. SR-121 B 8.96 BD 21OT19 FVRS10LAC, currently trading at Rs 101.2021 with Last Trade Yield (YTM) Annualized of 8.6400% was in maximum demand, followed by RURAL ELECTRIFICATION CORPORATION LIMITED SR-125 9.04 BD 12OT19 FVRS10LAC, trading at Rs 101.6572 with YTM Annualized of 8.6000%, RURAL ELECTRIFICATION CORPORATION LIMITED SR-122 9.02 BD 18JU19 FVRS10LAC, trading at Rs 101.3932 with YTM Annualized of 8.6100% and HINDUSTAN PETROLEUM CORPORATION LIMITED 8.75 NCD 09NV15 FVRS10LAC LOA UPTO 31JN13, trading at Rs 100.4990 at a YTM of 8.2027%.

Tata Steel upgrades Hot Strip Mill in Port Talbot

Tata Steel has completed a major upgrade of the Hot Strip Mill at its Port Talbot steelworks in South Wales, enabling it to further improve the quality of its steel products used in a wide range of markets, including automotive, engineering, construction and domestic appliances.

The upgrade was focused on the installation of a new £25 million ‘reversing rougher’ - a key part of the process which transforms a 9-inch (23cm) thick slab of steel into sheet less than an inch (2.5cm) thick. The reversing rougher is believed to be the most powerful in Europe, with two new 12.5 MW motors, each equivalent to 17,000hp or the power of about 150 cars.

The upgrade of the Hot Strip Mill follows investments totalling more than £250 million in state-of-the-art steelmaking and processing technology at the South Wales operations.

The Hot Strip Mill is a vital plant area in the Port Talbot steelworks where steel is rolled into continuous strip, forming ‘hot rolled coil’. The steel is further processed at Tata Steel sites in Wales and England, before being delivered to manufacturers of cars, food and drink cans, building materials and kitchen appliances.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.

Physical rubber prices ruled flat on Monday

Physical rubber prices ruled flat on Monday. Spot prices for RSS-4 and RSS-5 variety closed unchanged at Rs 120/ kg and Rs 113/ kg respectively.

In the futures market, contract of November delivery weakened to Rs 120.60 compared to its previous close of Rs 120.95, while December delivery closed at Rs 117.75 compared to its previous closing of Rs 118.72 on the National Multi Commodity Exchange (NMCE).

Jain Irrigation Systems to incorporate wholly owned subsidiary

Jain Irrigation Systems has received an approval for incorporation of wholly owned subsidiary to house its existing global food processing business. The board of directors at their meeting held on November 10, 2014 has approved for the same.

Further, the management was further authorized to take necessary steps to complete all legal and regulatory processes. The Board has also further authorized the management to explore value creation opportunities based upon minority dilution in the same.

Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.