Nifty cracks below 7,000

The BSE Mid-cap Index is trading down 0.82% at 9,627, whereas BSE Small-cap Index is trading down 0.40% at 9,743. The INDIA VIX is up 0.90% at 23.2475. Out of 1,765 stocks traded on the NSE, 1,067 declined, 313 advanced and 385 remained unchanged today.

 At 9:42 AM, the S&P BSE Sensex is trading at 23,045 down 146 points, while NSE Nifty is trading at 7,005 down 43 points.

The BSE Mid-cap Index is trading down 0.82% at 9,627, whereas BSE Small-cap Index is trading down 0.40% at 9,743.

All sectors are showing weakness on BSE.

NTPC, Dr.Reddy's, Tata Motors, Infosys, Sun Pharma, Lupin and TCS are among the gainers, whereas Tata Steel, SBI,Coal India, Adani Ports, Bajaj-Auto and L&T are losing sheen on BSE.

The INDIA VIX is up 0.90% at 23.2475. Out of 1,765 stocks traded on the NSE, 1,067 declined, 313 advanced and 385 remained unchanged today.

A total of one stocks registered a fresh 52-week high in trades today, while 72 stocks touched a new 52-week low on the NSE.

Indian Rupee opened lower by 12 paise at 68.49/$ in early trade on Wednesday as against the previous close of 68.37/$. On Tuesday, rupee weakened against the greenback, impacted by the sell‐off in domestic equities, strength in US dollar against the basket of major currencies also weighed on the emerging market currencies. In this respect, US dollar index has moved above close to 97 levels. Meanwhile, Indian rupee is quoted around 68.55 levels in the overseas NDF markets at the time of writing this report.

US indices ended at day’s highs with S&P 500 adding 1.65%, Dow gaining 1.39% and Nasdaq adding 2.27%. Oil futures pared gains and ended down 1.4% at $29.04 a barrel. FIIs remain net sellers and have sold worth nearly Rs 3,000 crore for the week ended February 12.

The Asian markets are trading mixed; Hang Seng index in Hong Kong is trading up by 0.5%, Shanghai index in China gains by half a percent. Kospi and Taiwan index both are trading marginally higher by 0.3%. On the other hand, Nikkei index in Japan is trading lower by 0.2% while Straits Times index is also down by 0.2%.

The Saudi minister, Ali al-Naimi reportedly said that four oil producers agree to freeze output at January levels. The freezing production at January levels was an adequate measure and new steps to stabilise the market may be considered in the next few months.

The government is considering to increase the foreign investment limit in public sector banks to 49% from 20%, according to reports. Report says that the Finance Ministry is looking into the proposal and may be announced in the forthcoming Budget 2016-17.

Bharti Airtel announced top level changes for its Africa operations. To further enhance the level of empowerment and enable faster decision making as well as speed to market, the Company also unveiled a new cluster based organization design. Christian Defaria, MD & CEO, Airtel Africa, has been elevated to the position of Executive Chairman, Airtel Africa. In his new role, he will continue to support the vision of Airtel Africa and lead all matters relating to legal, regulatory affairs, shareholders as well as Mergers & Acquisitions.

Standard & Poor's Ratings Services said that it had revised its outlook on Bank of India to negative from stable.

September 2013 lows! Rupee opens at 68.49/$

In China, banks extended a record high 2.51 trillion Yuan (US$385.4bn) of new loans in January, well above expectations.

Indian Rupee opened lower by 12 paise at 68.49/$ in early trade on Wednesday as against the previous close of 68.37/$. It fell to September 2013 lows of 68.58 against the dollar. On Tuesday, rupee weakened against the greenback, impacted by the sell‐off in domestic equities, strength in US dollar against the basket of major currencies also weighed on the emerging market currencies. In this respect, US dollar index has moved above close to 97 levels. Meanwhile, Indian rupee is quoted around 68.55 levels in the overseas NDF markets at the time of writing this report.

In China, banks extended a record high 2.51 trillion Yuan (US$385.4bn) of new loans in January, well above expectations. However, the spike was mostly attributable to increased cash injections made by the central bank ahead of the New Year holiday.

On Tuesday, the rupee ended at 68.37/$, 30 paise weaker. The currency touched a high and low of 68.25 and 68.57 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.33 and for Euro stood at 76.24 on February 16, 2016. While, the RBI’s reference rate for the Yen stood at 59.68, the reference rate for the Great Britain Pound (GBP) stood at 98.4312. 

Coal India plans to hire 1,000 employees

The hiring would be in various divisions including finance, marketing and sales, says report.

Coal India is planning to hire 1,000 people in different streams this year, according to reports.

The company is eyeing one billion tonne output by 2020.

The hiring would be in various divisions including finance, marketing and sales, says report.

Coal India Ltd ended at Rs. 318.4, down by Rs. 5.45 or 1.68% from its previous closing of Rs. 323.85 on the BSE.

The scrip opened at Rs. 325 and touched a high and low of Rs. 326.05 and Rs. 313.95 respectively. A total of 2676637(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 201112.9 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 286.9 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 330.75 and Rs. 296.3 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.44 % and 2.91 % respectively.

The stock traded below its 200 DMA.

SBI, Cipla, HCL Technologies, among 24 Stocks in focus today

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

Jindal Steel & Power Ltd: CRISIL Ratings has downgraded Jindal Steel & Power Ltd. (JSPL) to below investment grade after the company reported a consolidated net loss of INR 573 crore for the quarter ended December 2015.

Oriental Bank of Commerce: The Oriental Bank of Commerce (OBC) has reported alleged “mismanagement and siphoning of public money” at a subsidiary of the Delhi-based Dalmia Bharat Group, reports a financial newspaper.

Cipla: The pharma company said the government has approved an investment by Mauritius-based FIL Capital Investments in its subsidiary, Cipla Health Ltd.

State Bank of India: SBI Chairman, Arundhati Bhattacharya, states that NPAs are expected to rise in the next quarter and affect profits. She also states that the bank will evaluate the current NPA situation and look at how to deal with the rising NPAs after March.

Ashok Leyland: Nissan Motor has sent a termination notice on Nissan Ashok Leyland Technologies - a 50:50 technology/R&D joint venture (JV) between the Japanese automaker and Ashok Leyland.

Omaxe: Omaxe Ltd's sales booking surged by 16% to Rs. 1,335 crore in the April-December period of this fiscal.

Coal India: Coal India is planning to hire 1,000 people in different streams this year, according to reports.

HCL Tech: HCL Technologies has bagged the largest outsourcing contract in recent times from Swedish auto maker Volvo Group, with the deal valued at over $ 2.8 bn spread over five years.

Punj Lloyd: The company announced winning oil & gas EPC orders worth Rs 2070 crore from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Gas Company (OGC) which are owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC.

Bank of India: Standard & Poor's Ratings  Services said that it had revised its outlook on Bank of India to negative from stable. 

Bharti Airtel: Bharti Airtel has announced top-level leadership changes in its Africa arm and has also rejigged the organisation design there to boost operational efficiencies.

Just Dial Ltd: The company in a filing, informed the exchanges that its buy-back offer of 10.61 lakh equity shares would open for subscription on February 25, and close on March 10.

Thomas Cook: The company has inked a pilot partnership with Airbnb, the world’s leading community-driven hospitality company. 

Kesoram Industries Ltd: The company plans to raise Rs. 180 crore through preferential issue of equity shares to a promoter entity and issue of optionally convertible preference shares to IndusInd Bank.


Tata Power: Tata Power, India’s Largest India’s largest integrated power company, has successfully operationalised the net metering for the Rooftop Solar PV (RTS PV) System installed at the premises of Vardhan Industries Limited, a Tata Power consumer, in Mumbai.

TCS: Tata Consultancy Services announced the launch of a solution to enable Voice over LTE for virtualized networks using TCS’ Network Function Virtualization (NFV) ConcertoTM platform.

United Breweries (Holdings) Ltd: United Breweries (Holdings) in which liquor baron Vijay Mallya is a majority owner, has said that Punjab National Bank has declared the company as a "willful defaulter".

Inox Wind: The company has bagged 100-MW wind power project order from Tata Power Renewable Energy Limited (TPREL) at Rojmal, Gujarat.

BPCL: BPCL  has received clearance from the Environment Ministry for a Rs 3.3 bn project at its Kochi Refinery in Kerala.

MIC Electronics: The company has alloted of 3,30,00,000 Preferential Convertible Equity Share Warrants to investors face value Rs. 2/- each at a premium of Rs.23/- issued at Rs.25/- each as per in-principal approval received from National Stock Exchange of India Limited and Bombay Stock Exchange through letters dated January 28, 2016 and February 04, 2016 respectively.

Den Networks: The company is planning to demerge its broadband business into a wholly owned subsidiary. The company is also looking to demerge cable business of its 23 subsidiaries companies and merge them into itself. In this regard, the company has received its board’s approval at the meeting held on 9 February 2016.

Videocon Industries: The company is betting on sales network expansion and product launches to sell 600,000 air conditioner units this year that will help the company capture 15% market share in the segment.

RattanIndia Power: RattanIndia Power Ltd has recently announced appointment of Mr. Venugopal Keshanakurthi as the Chief Financial Officer of the company with immediate effect.

Tata Chemicals: The company said that its arm Bio Energy Venture - 1 (Mauritius) is in pact with Rademan Janse van Rensburg for sale of its entire stake in Grown Energy Zambeze Holdings Pvt. Ltd, Mauritius (‘GEZ Mauritius’) for a consideration of $5.5 million.

SpiceJet opposes Govt's move to ease 5/20 rule

The rule has resulted in massive air connectivity within the country, Ajay Singh told a business daily.

SpiceJet has in-principle objections to the Government’s move to ease the 5/20 rule even though the budget carrier will not be affected if the same is removed, Chairman Ajay Singh has been quoted as saying.

The rule has resulted in massive air connectivity within the country, Singh told a business daily.

“Our belief is that if we were asked to serve the country before we got lucrative rights to go abroad it is unfair that the new carriers should also not have to serve the country before flying overseas,” Singh says.

Pointing to AirAsia and Vistara, Singh adds that there is no country in the world today which allows its airlines to be controlled by a foreign airline.

"The US does not do it, Canada does not do it, Europe, the Gulf states, Malaysia and Singapore also don't,” Singh told the financial newspaper.

Vistara and AirAsia are controlled by their foreign parents Singapore Airlines and AirAsia Berhard, respectively.

AirAsia Investment Ltd. (AAIL), the investment arm of AirAsia Berhad, holds 49 per cent equity in AirAsia India, while Tata Sons holds a 30 per cent stake in the project and Arun Bhatia has the remaining stake.

Sensex, Nifty to open on a flat note

US indices ended at day’s highs with S&P 500 adding 1.65%, Dow gaining 1.39% and Nasdaq adding 2.27%. Oil futures pared gains and ended down 1.4% at $29.04 a barrel. FIIs remain net sellers and have sold worth nearly Rs 3,000 crore for the week ended February 12.

The joy at the start of the week seemed short-lived as a disturbed street witnessed profit booking in early trade on Tuesday. The selling accentuated bringing down counters across the board. Sentiment was hurt after SBI said that NPAs could rise in the fourth quarter too. The courts have swung into action with the Supreme Court stepping in regarding two issues, banks' bad loans and unviable air routes. RBI has been told by SC to submit details of all defaulters with loans of Rs. 500 crore and above in the past five years. The civil aviation ministry was pulled up by SC for giving lucrative flying routes to private airlines while ignoring unviable routes such as Delhi-Shimla, a report stated.

The outlook is a flat start. The index failed to surpass previous high of 7208 indicating signs of fatigue. Technically, Nifty has formed a bearish engulfing candle pattern. If the index ends below 7037, further selling pressure could emerge in coming days. US indices ended at day’s highs with S&P 500 adding 1.65%, Dow gaining 1.39% and Nasdaq adding 2.27%. Oil futures pared gains and ended down 1.4% at $29.04 a barrel. FIIs remain net sellers and have sold worth nearly Rs 3,000 crore for the week ended February 12.

The Asian markets are trading mixed; Hang Seng index in Hong Kong is trading up by 0.5%, Shanghai index in China gains by half a percent. Kospi and Taiwan index both are trading marginally higher by 0.3%. On the other hand, Nikkei index in Japan is trading lower by 0.2% while Straits Times index is also down by 0.2%.

The Saudi minister, Ali al-Naimi reportedly said that four oil producers agree to freeze output at January levels. The freezing production at January levels was an adequate measure and new steps to stabilise the market may be considered in the next few months.

The government is considering to increase the foreign investment limit in public sector banks to 49% from 20%, according to reports. Report says that the Finance Ministry is looking into the proposal and may be announced in the forthcoming Budget 2016-17.

Bharti Airtel announced top level changes for its Africa operations. To further enhance the level of empowerment and enable faster decision making as well as speed to market, the Company also unveiled a new cluster based organization design. Christian Defaria, MD & CEO, Airtel Africa, has been elevated to the position of Executive Chairman, Airtel Africa. In his new role, he will continue to support the vision of Airtel Africa and lead all matters relating to legal, regulatory affairs, shareholders as well as Mergers & Acquisitions.

Standard & Poor's Ratings Services said that it had revised its outlook on Bank of India to negative from stable.

HCL Tech signs deal with Volvo Group

The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group.

HCL Technologies Ltd is marginally up at Rs.825.55 on BSE.  The company is acquiring the external IT business of Volvo IT AB ('Volvo IT'), a subsidiary of AB Volvo, the top holding company of the Volvo Group. The approval of European Union has been obtained for this transaction.

The scrip opened at Rs. 827.4 and has touched a high and low of Rs. 837.5 and Rs. 820 respectively. So far 746531(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 116382.81 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1058.2 on 11-Mar-2015 and a 52 week low of Rs. 785.85 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 848 and Rs. 785.85 respectively.

The promoters holding in the company stood at 60.42 % while Institutions and Non-Institutions held 33.02 % and 6.55 % respectively.

The stock is currently trading above its 200 DMA.

Idea Cellular drops 2.5%; launches 4G services in Hyderabad

The scrip opened at Rs. 111.95 and has touched a high and low of Rs. 112.1 and Rs. 105.7 respectively

Idea Cellular drops 2.5% to Rs.106 on BSE. The telecom service company launched 4G Lte Services in Hyderabad, as per media reports.

The scrip opened at Rs. 111.95 and has touched a high and low of Rs. 112.1 and Rs. 105.7 respectively. So far 2271444 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 39190.54 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.9 on 17-Apr-2015 and a 52 week low of Rs. 97.55 on 10-Feb-2016. Last one week high and low of the scrip stood at Rs. 112 and Rs. 97.55 respectively.

The promoters holding in the company stood at 42.24 % while Institutions and Non-Institutions held 29.43 % and 28.34 % respectively.

The stock is currently trading above its 200 DMA.

GATI climbs 4.9%; plans to invest in logistics start-ups

The company is exploring the burgeoning start-ups environment, and is looking at strategic investment in start-ups in the logistics sector.

Gati is currently trading at Rs. 113.8, up by Rs. 5.75 or 5.32% from its previous closing of Rs. 108.05 on the BSE. The company is looking at strategies for growth to align with their vision of delivering 1 million packages everyday by 2020. The company is exploring the burgeoning start-ups environment, and is looking at strategic investment in start-ups in the logistics sector. The organization has already progressed considerably in engaging with start-ups to make a strategic investment shortly.

The scrip opened at Rs. 113 and has touched a high and low of Rs. 118.4 and Rs. 113 respectively. So far 2394273(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 947.85 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 264.1 on 16-Feb-2015 and a 52 week low of Rs. 94.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 110 and Rs. 94.6 respectively.

The promoters holding in the company stood at 41.32 % while Institutions and Non-Institutions held 16.46 % and 42.21 % respectively.

The stock is currently trading above its 200 DMA.

Inox Wind bags 100 MW repeat order from Tata Power Renewable Energy

Inox Wind’s Rojmal site is one of the largest wind farms in Gujarat and has a capacity of 400 MW.

Inox Wind Limited, maintaining its momentum as India’s leading wind power solutions provider, has bagged a repeat order for a 100 MW wind power project at Rojmal, in Gujarat from Tata Power Renewable Energy Limited (TPREL).  The order is TPREL’s fourth project with Inox Wind taking the cumulative orders placed with Inox Wind across various sites to more than 300 MW.  TPREL is a 100% subsidiary of Tata Power and has ~215 MW of commissioned renewable assets, with another 250 MW under construction/on order. Tata Power, including TPREL’s capacities, has a commissioned capacity of ~600+ MW of Wind and Solar assets.  

Inox Wind’s Rojmal site is one of the largest wind farms in the state of Gujarat with a capacity of 400 MW. More than 140 MW of capacities are already operational at the wind park including 50 MW capacities of TPREL.The commissioned common infrastructure facilities at the site are capable of supporting power evacuation of 400 MW.

As part of the turnkey order, Inox Wind will provide TPREL with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.  The repeat order involves supply and installation of 50 units of Inox Wind’s best in class 2MW DFIG 100 rotor dia Wind Turbine Generator, proving the success of Inox Wind’s technology which has been developed especially for Indian climatic conditions.

Inox Wind offers its clients total wind power solutions including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as post-commissioning support.   

"The fourth order from an esteemed customer like TPREL underlines the strength of the growing partnership between the two companies and reaffirms customers’ confidence in Inox Wind’s 2MW platform.  Repeat orders from one of the country’s leading renewables players like TPREL corroborate Inox Wind’s ability to provide world class technological solutions to its clients.” said Mr. Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited in his statement.

“The 100 MW expansion of the Rojmal project is TPREL’s fourth project with Inox Wind. We are confident that Inox will again deliver the project safely, timely and of top notch quality. We look forward to building a long and fruitful relationship with Inox on the strong foundation of the previous successful projects in Gujarat and Rajasthan.” Rahul Shah, Chief Executive Officer of TPREL said in his statement.