Puffing gains! Golden Tobacco rises 2.2%

The company said that the Madras HC vide its order on Dec 7 vacated its Interim Injection order passed on October 01, 2015 on production and Sales of one of the major Brands of the Company (i.e. Golden’s Gold Flake), in the matter of ITC Vs. Golden Tobacc

Golden Tobacco Ltd gained 2.2% to Rs.48.85 on BSE. The company said that the Hon'ble Madras High Court vide its order dated December 7 (copy received on December 16, 2015) vacated its Interim Injection order passed on October 01, 2015 on production and Sales of one of the major Brands of the Company (i.e. Golden’s Gold Flake), in the matter of ITC (applicant) Vs. Golden Tobacco Limited (respondent).
The Applications being O. A. Nos.1067 to 1071 of 2015 filed by ITC dismissed by the Hon’ble High Court of Madras vide its Order dated December 07, 2015 (received on December 16, 2015).

The scrip opened at Rs. 50 and has touched a high and low of Rs. 50.9 and Rs. 48.5 respectively. So far 41262(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 84.18 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 64 on 30-Dec-2014 and a 52 week low of Rs. 33.1 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 53.7 and Rs. 44 respectively.

The promoters holding in the company stood at 26.02 % while Institutions and Non-Institutions held 0.25 % and 73.74 % respectively.

The stock is currently trading below its 50 DMA.

Strides Arcolab sets floor price for QIP at Rs.1,344.78/share

In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs. 1,344.78 per Equity Share and the Company may offer a discount of not more than 5% on the floor price.

Strides Arcolab Ltd has informed BSE that the QIP Committee of the Board of Directors of the Company on December 17, 2015, has decided to open on "December 17, 2015" the "Qualified Institutions Placement (the "Issue") of Equity Shares of the Company, through a qualified institutions placement in accordance with Chapter VIII and other applicable provisions of the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013 read with Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014.

In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at Rs. 1,344.78 per Equity Share and the Company may offer a discount of not more than 5% on the floor price.

Hexaware Tech to see one-time impact for December quarter

Chennai is the largest delivery center for Hexaware Tech and contributes 23.5% to the total global revenue.

Hexaware Technologies Ltd, a leading global provider of IT, BPO and Consulting services provided an update today on Chennai Operations. In view of the extremely heavy & incessant rainfall and subsequent flooding, Chennai operations except mission critical activities had to be suspended for 3 days. Chennai is the largest delivery center for Hexaware and contributes 23.5% to the total global revenue. Hexaware has 44% of the global strength operating out of Chennai.

This is expected to have material impact on the company's revenue in the quarter ending 31st December 2015. Additionally, the company will have a one-time impact on cost due to wide recovery efforts.

SBI welcomes guidelines on marginal cost of funds methodology

The guidelines are to be applied w.e.f.1st April 2016 on new loans taken thereafter as well as loans getting renewed after that date.

SBI welcomes the final guidelines on marginal cost of funds methodology for interest rates on advances issued today by RBI.

The guidelines are to be applied w.e.f.1st April 2016 on new loans taken thereafter as well as loans getting renewed after that date. While these guidelines will benefit the new customers, existing customers will also have an option to shift to the new regime with some conditions.

 Sufficient time has been given to Banks to switch over to the new regime of Marginal cost of funds based Lending Rate as the same has been made effective from1st April 2016.

With Marginal Cost of Funds including tenor premium we have moved closer to international manner of benchmark rates.

HUL gains after acquiring ‘Indulekha’ brand

The company said that it will buy Indulekha, Vayodha trademarks, intellectual property, design for Rs.330 crore consideration.

Hindustan Unilever gained 0.8% to Rs. 871.50 on BSE. The company said that it will buy Indulekha, Vayodha trademarks, intellectual property, design for Rs.330 crore consideration.

The scrip opened at Rs. 868 and has touched a high and low of Rs. 873 and Rs. 865.1 respectively. So far 124,109 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 186980.08 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 979 on 11-Mar-2015 and a 52 week low of Rs. 744 on 26-Dec-2014. Last one week high and low of the scrip stood at Rs. 867.55 and Rs. 816.15 respectively.

The promoters holding in the company stood at 67.21 % while Institutions and Non-Institutions held 18.72 % and 14.06 % respectively.

The stock is currently trading below its 200 DMA.

Accenture hikes 2016 revenue forecast after strong Q1

Net income fell to US$858.5 million, or US$1.28 per share, in the first quarter from US$882.2 million, or US$1.29 per share a year earlier.

Accenture Plc raised its 2016 net revenue growth forecast to 6-9% from 5-8% in local currency after reporting a better-than-expected rise in quarterly revenue.

Net income fell to US$858.5 million, or US$1.28 per share, in the first quarter from US$882.2 million, or US$1.29 per share a year earlier.

Net revenue, or revenue before reimbursements, rose to US$8.01 billion from US$7.90 billion in the same quarter last year.

Analysts had forecast net income of US$1.32 per share on revenue of US$7.92 billion.

Consulting net revenue for the quarter ended 30th November was US$4.35 billion, an increase of 6% in US dollar terms and 15% in local currency terms.

The business accounts for just over half of Accenture’s revenue, while its outsourcing unit contributes the rest.

The company’s revenue from North America, which accounted for about 47% of total revenue in the quarter, rose 9% to US$3.76 billion. In local currency, the rise was 11%.

Govt to introduce Bharat Stage V & VI norms from 2019: Gadkari

"The draft notification proposes BS V norms to be implemented by April 2019 for new vehicle models and April 2020 for existing vehicle models," Gadkari told the Lok Sabha in a written reply.

The Government is looking to roll out Bharat Stage V (BS V) and Bharat Stage VI (BS VI) norms for vehicles from 2019 and 2021, respectively for four-wheelers, Road Transport Minister Nitin Gadkari told Parliament on Thursday.

"The draft notification proposes BS V norms to be implemented by April 2019 for new vehicle models and April 2020 for existing vehicle models," Gadkari told the Lok Sabha in a written reply.

As per the proposal, BS VI norms are expected to be implemented by April 2021 for vehicle models and April 2022 for existing vehicle models, Gadkari said.

"The draft notification amending Central Motor Vehicles Rules, 1989 regarding BS V and BS VI emission norms have been put up on the official website of the Ministry for consultation with the public and other stakeholders," the Minister informed the Parliament.

The Government has also issued notification for use of electric and hybrid vehicles and alternate fuel like bio-CNG, bio-diesel, flex-fuel to reduce the harmful effects of emissions on the environment, he added.

Lok Sabha passes Arbitration and Reconcilliation Amendment Bill, 2015

The Bill seeks to make the arbitration process more investor-friendly, cost effective and suitable for expeditious disposal of cases. It will also facilitate in making India a hub of international commercial arbitration.

The Lok Sabha has passed the Arbitration and Reconciliation (Amendment Bill), 2015 by voice vote. The Bill seeks to make the arbitration process more investor-friendly, cost effective and suitable for expeditious disposal of cases. It will also facilitate in making India a hub of international commercial arbitration. 

It may be noted that the President had promogulated an ordinance for amending the earlier prevalent act, the Arbitration and Conciliation Act 1996 related and for matters connected there with or incidental thereto. 

The union cabinet had approved promulgation of this ordinance on 21.10.2015 and had recommended the same to the President. 

Maruti Suzuki, HDFC, Somany Ceramics among 12 Stocks in focus today

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

Maruti Suzuki: The company said its minority shareholders have approved the Gujarat plant resolution. 89.75% of shareholders voted in the favour of Gujarat Resolution, while the remaining decided to vote against it.

Housing Development Finance Corporation: HDFC has agreed to sell 12,33,57,262 equity shares of Rs .10 each of HDFC ERGO General Insurance Company (HDFC ERGO), a subsidiary of HDFC, representing 22.92% of HDFC ERGO's issued and paid up capital to ERGO International AG, Dusseldorf (ERGO) at a price of Rs 90.973 per share).

Bank of Baroda: CBI has filed chargesheet against 2 former Officials in BOB case in respect of violation of banking norms.

Somany Ceramics: The company has informed the exchange that subsequent to the approval accorded by the Board of Directors of the Company, authorised the opening of the QIP on December 17, 2015, with the floor price for the issue i.e. Rs. 357.24.

Power Grid Ltd: The RBI has now allowed foreign institutional investors  and registered foreign portfolio investors to buy more shares of PowerGrid Corporation of India.

Aurobindo Pharma: The pharma company has received final approval from the USFDA to manufacture and market two drugs used for treating diarrhoea and allergy.

Tata Power Ltd: Tata Power has announced that it has entered into contract with Gamesa India for commissioning 100 MW turnkey wind project in Andhra Pradesh.

TAKE Solutions: The unprecedented rainfall in Chennai during the first week of December 2015 and the resultant flooding impacted the business operations of the company.

JMC Project: The company said in a notice to BSE that it recently got orders worth Rs.1,050 crore.

Jyoti Limited: The company has won the prestigious order at Rs. 139 crores from DRN Infrastructure for design, manufacturing, supply, erection, testing and commissioning of five Nos.

United Bank of India: The bank has informed BSE that at the meeting of the Board of Director scheduled to be held on December 18, the proposal to raise Equity Capital by Preferential Allotment up to Rs. 1500 cr. including premium to the President of India on behalf of the Central Government or Life Insurance Corporation of India or funds thereof or such other investors as may be decided provided that the Central Government holding at any time shall not fall below 51% of the equity capital of the Bank, shall inter-alia be taken up for consideration.

Sensex, Nifty to open on a weak note

US markets fell over a percent. Asian markets are mixed. Crude fell below $35 a barrel. Japanese Nikkei has lost half a percent while Hong Kong's Hang Seng is down 0.25%. South Korea's Kospi is flat but China's Shanghai Composite is up over half a percent.

The world and its market seem to have rejoiced after the Fed moved on expected lines. But a day after, concerns have cropped up regarding fall in crude oil prices and impact of Fed hike on fund outflows from emerging markets. FPIs have sold equities worth over Rs 5,500 crore in December alone. It will be interesting to witness the long term repercussions of the rate move on the global markets. Narrowing interest rate differentials between US and emerging markets can lead to hefty capital outflows. Stronger US dollar and ensuing weak commodity prices can pose a danger of rising corporate bond defaults, balance of payment issues for commodity producing nations. Producers will also be compelled to scale down on capital expenditure and in the process drag down the economic growth of respective nations.

The outlook is a weak start even though bulls have raised positions on Nifty options betting on 8000 by Dec-end. Indices will struggle to get into the green as global cues are subdued. US markets fell over a percent. Asian markets are mixed. Crude fell below $35 a barrel. Japanese Nikkei has lost half a percent while Hong Kong's Hang Seng is down 0.25%. South Korea's Kospi is flat but China's Shanghai Composite is up over half a percent.

The Finance ministry will table the Mid-Year Economic Analysis for FY16 in  Parliament. Chief Economic Adviser Subramanian is expected to address the media before lunch. FM’s reply to questions in Lok Sabha will also be in focus even though any development on GST is not expected for now. The rupee may remain in a range for the day after clocking smart gains in recent times.

India with strong GDP growth is "very well-equipped" to deal with any volatility that may arise from a gradual interest rate hike by the US Federal Reserve, Minister of State for Finance Jayant Sinha reportedly said.

The Lok Sabha passed the Arbitration and Reconciliation (Amendment Bill), 2015 by voice vote. The Bill seeks to make the arbitration process more investor-friendly, cost effective and suitable for expeditious disposal of cases. It will also facilitate in making India a hub of international commercial arbitration.

In an interim order passed on Thursday, the Bombay High Court stayed the proposal to hike metro fares in Mumbai. A division bench of justice Abhay Oka and Justice Gautam Patel stayed the proposal by the MMOPL until the final hearing of the plea filed by the MMRDA, which is scheduled for 29th January.

The Government is planning to build eight more express highways in addition to the already announced eight, reports a business daily.

The US Congress has imposed a special fee of up to US$4,500 on the H-1B and L-1 visas to fund a 9/11 healthcare act and biometric tracking system.

With a view to simplify the statutory provisions in the shipping sector, the Centre is in the process of revamping archaic acts and will introduce the same in Parliament in next six months, Mr Rajive Kumar, secretary, shipping ministry said at an ASSOCHAM event held in New Delhi today.

Maruti Suzuki India Ltd. (MSIL) and its dealers could invest up to Rs. 30,000 crore to double distribution infrastructure, including new dealerships, as it aims to sell 3 million cars a year, reports a business daily.

Tata Starbucks CEO Avani Davda has resigned, according to reports.Report says that Sumi Ghosh  has been named the new CEO of Tata Starbucks.

Government has deferred plan to impose 2 per cent levy on air tickets from January 1, according to reports.

Somany Ceramics Ltd has set floor price for QIP at Rs. 357.25/Share.

The oil ministry has appointed Ajit Prakash Shah, former chief justice of the Delhi High Court  to look into the charges of siphoning of Oil by RIL from ONGC’s block in the Krishna-Godavari basin to RIL’s adjoining reservoir.