Pipavav Defence zooms 9%

Report says that new defence procurement policy or DPP that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

Pipavav Defence and Offshore Engineering Ltd stock was higher by 9% at Rs. 67.  Report says that new defence procurement policy that will give priority to indigenously made defence products and boost the Make in India initiative will be ready by April, Union defence minister Manohar Parrikar said.

The defence ministry has already finalized the draft DPP and it has been approved by the Defence Acquisition Council (DAC).

The scrip opened at Rs. 64 and has touched a high and low of Rs. 68.6 and Rs. 64 respectively. So far 1326758(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4571.86 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 114 on 28-Dec-2015 and a 52 week low of Rs. 51.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 67.45 and Rs. 52.65 respectively.

The promoters holding in the company stood at 37.48 % while Institutions and Non-Institutions held 56.35 % and 6.17 % respectively.

The stock is currently trading above its 50 DMA.

Vedanta dips 4%;signs pact with Odisha govt

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

Shares of billionaire Anil Agarwal-led Vedanta Ltd is currently trading 3.54% lower at Rs. 72.20 on BSE after it was reported that the company has signed an agreement with Odisha government to set up an aluminium park in the state.

The aluminium park will be set up adjacent to the company’s 1.6 million tonnes per annum aluminium smelter at Jhasarguda, Odisha.

RBI finds irregularities! Bank of Baroda down 3% after Monday's spectacular show

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively

A day after surging over 22%, Bank of Baroda is trading lower by 3% at Rs. 134. Report says that RBI found irregularities in Bank of Baroda forex transactions.

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 141.25 and Rs. 133.8 respectively. So far 6412802(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 32154.55 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 216.25 on 18-Aug-2015 and a 52 week low of Rs. 109.45 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 142 and Rs. 109.45 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 33.71 % and 7.06 % respectively.

The stock is currently trading above its 200 DMA.

BHEL trades flat; commissions a gas-based combined cycle power plant in Tripura

The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

Bharat Heavy Electricals is currently trading at Rs. 108.35, up by Rs. 0.4 or 0.37% from its previous closing of Rs. 107.95 on the BSE. The company commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement, and construction (EPC) basis in Tripura.

The scrip opened at Rs. 109.95 and has touched a high and low of Rs. 110.5 and Rs. 106.75 respectively. So far 1280296(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 26421.84 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.85 on 21-Jul-2015 and a 52 week low of Rs. 102.15 on 15-Feb-2016. Last one week high and low of the scrip stood at Rs. 133.5 and Rs. 102.15 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.08 % and 3.86 % respectively.

The stock is currently trading above its 200 DMA.

Rupee opens lower by 7 paise

India’s exports contracted during January, marking the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. India’s exports contracted during January, which was the 14th consecutive monthly decline. Exports fell 13.6% yoy, owing to weak overseas demand. Wholesale prices fell 0.9% during January, registering the contraction for the 15th consecutive month.

In China, the central bank authorities stated that they are committed to stabilize Yuan and will not intentionally devalue in order to gain a trade advantage for the country’s exports.

In Europe, ECB president Mario Draghi stated that the central bank is ready to ease policy next month if financial market turmoil or low energy prices continue to generate deflationary pressures. As a result, Euro lost ground against the greenback, with values tumbling to 1.116 at one point of time.

On Monday, the rupee ended at 68.06/$, 17 paise higher. The currency touched a high and low of 68.25 and 68.32 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.13 and for Euro stood at 76.50 on February 15, 2016. While the RBI’s reference rate for the Yen stood at 59.84, the reference rate for the Great Britain Pound (GBP) stood at 99.0067.

Chicago Auto Show: Chevrolet unveils Trax and Camaro 1LE

The vehicle has an updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors.

Chevrolet introduced the all-new Trax compact crossover and the Camaro 1LE performance package during the 2016 Chicago Auto Show Media Preview.

The newly re-designed Trax features contemporary design elements including an all-new front-end appearance and a new premium interior. The vehicle has updated technology with a seven-inch infotainment screen to keep drivers connected via Apple CarPlay and Android Auto, along with a number of safety upgrades including safety sensors. The SUV also offers keyless access with a push-button starter, which wasn't available last year.

"Right here in Chicago, we are the No. 1 retail brand - not one year running, but five years in a row," said Brian Sweeney, U.S. vice president of Chevrolet. "Our Chicago dealers have had leadership roles, and it is fueled by the great cars, trucks and crossovers you see here."

Chevrolet also introduced to track-enthusiasts the Camaro 1LE performance package for both the V6 and V8 models. The package builds off the success of the previous-generation 1LE, offering increased handling and track performance. In response to customer demand, Chevrolet will offer two distinct 1LE packages, for both V6 and V8 models, each visually distinguished with a satin black hood, specific wheels and more cooling.

The 2017 Trax is expected to go on sale this fall. The new 1LE packages will be available in late 2016 on 2017 Camaro SS and LT V-6 coupes, equipped with manual transmissions. Pricing and performance data will be announced at a later date. 

Chevrolet also expanded its popular Midnight Edition to include all three of its pickups: the midsize Colorado, the half-ton Silverado 1500 and the Silverado 2500 Heavy Duty. All three can be seen for the first time at the 2016 Chicago Auto Show. More details to come soon from Chevrolet.

Nifty trades above 7,150 mark

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

At 9:26 AM, the S&P BSE Sensex is trading at 23,608 up 54 points, while NSE Nifty is trading at 7,176 up 13 points.

In broader market, the Midcap has gained 0.08% at 9,957 and the Smallcap index has advanced 0.62% at 10,068.

ONGC, Adani Ports, NTPC, Tata Motors, Cipla, Tata Steel and Bharti Airtel are among the gainers, whereas L&T, Coal India, TCS, HDFC, Maruti Suzuki and Asian Paints are losing sheen on BSE.

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. On macroeconomic side, India’s exports contracted during January, the 14th consecutive monthly decline. Exports fell 13.6% on yoy basis, impacted by weak overseas demand. On inflation side, wholesale prices fell 0.0% during January, registering the contraction for the 15th consecutive month.

Most Asian markets are higher with Japan's benchmark Nikkei up a percent. China's CSI300 has gained 2.07%. Hong Kong's Hang Seng is up 1.44%, South Korea's Kospi is up 1.2% and Taiwan's TWSE is higher by 1.3%.  The result season is mostly out of the way and few names to announce their numbers include Net 4 India and Tirupati Inks.

The Government has extended for the second time U.K. Sinha’s term as Chairman of Securities & Exchange Board of India (SEBI).

Bharat Petroleum Corporation Ltd. (BPCL) says that the expansion work at its Kochi refinery is on track for scheduled commissioning in May this year, with about 90 per cent of the work done.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

The Government announced the first-ever policy for the capital goods sector which envisages creation of 21 million additional jobs by 2025.

The Union Petroleum and Natural Gas Minister Dharmendra Pradhan has stressed on the need to enhance domestic production of Oil & Gas through process and technical improvements, besides enhanced exploratory coverage.

Piyush Goyal, Union Minister of State(IC) for Power, Coal and New & Renewable Energy said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British Telecom (BT), Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to forge an international operator alliance to bring innovative products and services, according to reports.

Titagarh Wagons mulls merger of ship building biz

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

However, the formal approval for the Scheme of Amalgamation before the Calcutta High Court will take some time, according to the financial newspaper.

The merger would mark Titagarh Wagon’s entry into ship building and would also include manufacturing of barges for the Indian Navy, according to the daily.

Titagarh Wagons Ltd ended at Rs. 127.85, up by Rs. 11.4 or 9.79% from its previous closing of Rs. 116.45 on the BSE.

The scrip opened at Rs. 120 and touched a high and low of Rs. 129.9 and Rs. 120 respectively. A total of 2294686(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1475.19 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 174.6 on 10-Mar-2015 and a 52 week low of Rs. 86 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 141.4 and Rs. 108 respectively.

The promoters holding in the company stood at 46.11 % while Institutions and Non-Institutions held 29.38 % and 24.5 % respectively.

The stock traded above its 50 DMA.

Punjab National Bank declares United Breweries (Holdings) as wilful defaulters

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

United Breweries (Holdings) Ltd has informed BSE that the Punjab National Bank vide its letter dated February 11, 2016, received by the Company on February 15, 2016, has declared the company as a ‘Willful Defaulter’.

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

Stock view:

United Breweries (Holdings) Ltd ended at Rs. 22.7, up by Rs. 1.25 or 5.83% from its previous closing of Rs. 21.45 on the BSE.

The scrip opened at Rs. 22.05 and touched a high and low of Rs. 23.2 and Rs. 22.05 respectively. A total of 152034(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 151.68 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 35.8 on 10-Nov-2015 and a 52 week low of Rs. 17 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 26.55 and Rs. 20.3 respectively.

The promoters holding in the company stood at 52.34 % while Institutions and Non-Institutions held 4.88 % and 42.78 % respectively.

The stock traded above its 100 DMA.

Tata Chemicals unit to sell stake in Gez Mauritius for $5.5 million

Tata Chemicals Ltd has entered into an agreement with Rademan Janse van Rensburg for sale of its entire stake in Grown Energy Zambeze Holdings, Mauritius (‘GEZ Mauritius’) for a consideration of US$ 5.5 million.

Tata Chemicals Ltd has informed the BSE that the company’s wholly owned subsidiary, Bio Energy Venture - 1 (Mauritius) Pvt. Ltd has entered into a Definitive Agreement (‘Agreement’) with Mr. Rademan Janse van Rensburg (‘Purchaser’) for sale of its entire stake in Grown Energy Zambeze Holdings Pvt. Ltd, Mauritius (‘GEZ Mauritius’) for a consideration of US$ 5.5 million subject to fulfilment of certain condition precedents laid down in the agreement (‘Closing Date’). As per the Agreement, the purchaser will discharge the above consideration on a deferred payment basis over a period of five years ending on December 31, 2020.

GEZ Mauritius is the holding company of Grown Energy Zambeze Limitada (‘GEZ Ltda’), which owns the company’s biofuel assets in Mozambique. The company, through its subsidiaries, owns 95% stake in GEZ Ltda. The purchaser, one of the founder members of GEZ Ltda. has been a shareholder since inception and currently holds the balance 5% ownership in GEZ Ltda. along with another investors.

Stock view:

Tata Chemicals Ltd ended at Rs. 340.65, up by Rs. 5.9 or 1.76% from its previous closing of Rs. 334.75 on the BSE.

The scrip opened at Rs. 344.95 and touched a high and low of Rs. 344.95 and Rs. 328.05 respectively. A total of 562082(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8678.4 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 525.7 on 23-Jul-2015 and a 52 week low of Rs. 324.9 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 375 and Rs. 324.9 respectively.

The promoters holding in the company stood at 30.98 % while Institutions and Non-Institutions held 47.48 % and 21.54 % respectively.

The stock traded above its 200 DMA.