Petronet LNG gains 2% on LNG deal with Qatar

Petronet LNG has signed a binding sale and purchase agreement (SPA) with RasGas of Qatar for supply of an additional 1 MTA of LNG to India starting in 2016 for onward sale to four Indian entities, ie, Indian Oil Corporation, Bharat Petroleum Corporation, Gail (India) and Gujarat State Petroleum Corporation.

Shares of Petronet LNG are trading up 1.88% at Rs. 260.90 on signing a binding sale and purchase agreement (SPA) with RasGas of Qatar for supply of an additional 1 MTA of LNG to India starting in 2016 for onward sale to four Indian entities, ie, Indian Oil Corporation, Bharat Petroleum Corporation, Gail (India) and Gujarat State Petroleum Corporation.

Petronet LNG Ltd is currently trading at Rs. 259, up by Rs. 4.15 or 1.63% from its previous closing of Rs. 254.85 on the BSE.

The scrip opened at Rs. 257.7 and has touched a high and low of Rs. 262 and Rs. 256.5 respectively. So far 1148644(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 19113.75 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 257.4 on 31-Dec-2015 and a 52 week low of Rs. 159.8 on 27-Apr-2015. Last one week high and low of the scrip stood at Rs. 257.4 and Rs. 238.6 respectively.

The promoters holding in the company stood at 50 % while Institutions and Non-Institutions held 27.54 % and 22.46 % respectively.

The stock is currently trading below its 50 DMA.

Ricoh India to digitize 130,000 rural Post offices

The Rural ICT Project is a part of the larger IT modernization project being undertaken by the Department of Posts.

During the celebration of Good Governance Week, Minister of Communication and IT, Ravi Shankar Prasad kicked off “Rural Information and Communication Technology” Project on 28th December by handing over the first lot of “Solar Powered”, Bio Metric Enabled Hand Held Devices to Branch Post Masters of 3 pilot states.

Ricoh India a leader in the field of Imaging and IT Solutions, is partnering with Department of Post for Implementing and Operating integrated Rural Hardware solution for around 1,30,000 post offices across India. Ricoh solution not only includes hand held devices with camera and bio metric facility but also includes set of solar panels at EDO level and network connectivity.

In order to ensure smooth functioning of the devices, Ricoh will also set up services centres across India.

As shared by the senior officials during the launch of the project, these mobile terminals will facilitate all postal and financial transactions in the rural branch offices, and upload this data to India Post data centre. This service will not only improve the delivery of services in the rural areas but will also be an important tool to improve the quality of service, provide more value added services and achieve “financial inclusion” of the un-banked rural population.

The Rural ICT Project is a part of the larger IT modernization project being undertaken by the Department of Posts.

Under the project Ricoh India will supply, install and maintain services of hardware, peripheral devices and operating system for “Rural Information & Communication Technology (ICT) – Hardware (RH)”  Solution.

Manoj Kumar, Executive Vice President and CEO, Ricoh India said, “Being a company committed to excellence and innovation, Ricoh India is proud to be associated with this ambitious project launched by Department of Posts. India`s postal services is one of the largest networks in the world and with Ricoh established network of services and support infrastructure across India, we are confident of delivering the best value to Department of Posts and ensuring seamless integration of our products and services in this project by Ministry of IT and Communications. We are positive that through our product offerings and services we will be able to increase efficiencies, enhance service offerings and fulfill the objectives of Department of Posts”

This project will first will be launched at three pilot circles in Uttar Pradesh, Bihar and Rajasthan. By March 2017, 1.30 lakh hand-held devices will be made available across rural branch offices. This instrument will revolutionise lives of people across villages. Booking and delivery of Speed Post, registered mail, money orders, sale of stamps and postal stationary will be done through these devices and paper receipts will be generated instantly. The scope of work includes supply of mobile computing devices and peripherals, installation of solar UPS, connectivity to access the application by service providers along with maintenance for five years. 

BHEL gains 2%; Atul Sobti takes charge as Managing Director

Atul Sobti takes charge as Managing Director of Bharat Heavy Electricals Ltd

Shares of Bharat Heavy Electricals Ltd (BHEL) are trading up 1.51% at Rs. 171.80 on Atul Sobti taking charge as Managing Director. 

Bharat Heavy Electricals Ltd is currently trading at Rs. 171.75, up by Rs. 2.5 or 1.48% from its previous closing of Rs. 169.25 on the BSE.

The scrip opened at Rs. 169 and has touched a high and low of Rs. 172.25 and Rs. 168.4 respectively. So far 1018096(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 41425.63 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 299.5 on 04-Feb-2015 and a 52 week low of Rs. 164.1 on 08-Dec-2015. Last one week high and low of the scrip stood at Rs. 174.3 and Rs. 166.45 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.21 % and 3.73 % respectively.

The stock is currently trading above its 200 DMA.

RBI announces rate of interest on Floating Rate Bonds, 2017

It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided in the auction held on July 1, 2002) over and above the variable base rate.

The rate of interest on the Floating Rate Bonds, 2017 (FRB, 2017) applicable for the half-year (January 02, 2016 to July 01, 2016) shall be 7.54 per cent per annum.

It may be recalled that the rate of interest on the FRB, 2017 was set at a mark-up (as decided in the auction held on July 1, 2002) over and above the variable base rate.

The variable base rate for payment of interest shall be the average rate (rounded off up to two decimal places) of the implicit yields at cut-off prices of the last six auctions of Government of India 364-day Treasury Bills held up to the commencement of the respective half yearly coupon period which works out to be 7.20 per cent. The mark-up decided in the auction held on July 1, 2002 was (+) 0.34 per cent (plus 34 basis points). The coupon rate has thus been fixed at 7.54 per cent.

Aviation stocks rally as jet fuel prices cut

Oil marketing companies reduced aviation turbine fuel by 10%. ATF price in Delhi stands at Rs 39,892.32 per kilolitre, Kolkata at Rs 46,368.94, Mumbai at Rs 39,009.02 and Chennai at Rs 42,418.64 per kilolitre.

Shares of aviation companies zoomed after oil marketing companies reduced aviation turbine fuel (ATF) by 10%. ATF price in Delhi stands at Rs 39,892.32 per kilolitre, Kolkata at Rs 46,368.94, Mumbai at Rs 39,009.02 and Chennai at Rs 42,418.64 per kilolitre.

SpiceJet jumped 5.5% to Rs.79.40. The scrip opened at Rs. 75.85 and has touched a high and low of Rs. 79.8 and Rs. 75.85 respectively. So far 11876417(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4510.86 crore. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.65 on 31-Dec-2015 and a 52 week low of Rs. 15.75 on 06-Jan-2015. Last one week high and low of the scrip stood at Rs. 75.65 and Rs. 69.75 respectively.

Jet Airways soared 5% to Rs. 738. NSE will include Jet Airways in the future and option segment from today. The scrip opened at Rs. 712 and has touched a high and low of Rs. 742.5 and Rs. 712 respectively. So far 5096738(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7979.83 crore. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 708.8 on 31-Dec-2015 and a 52 week low of Rs. 248.5 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 708.8 and Rs. 602 respectively.

InterGlobe Aviation rallied 4.2% to Rs. 1,286. The scrip opened at Rs. 1234 and has touched a high and low of Rs. 1299 and Rs. 1234 respectively. So far 996996(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 44468 crore.

Gammon India rallies 9.8%

Lenders led by ICICI Bank are now looking at investment in Gammon arms, as per media reports. The company experienced a spurt in volume by more than 1.51 times.

Gammon India rallied 9.8% to Rs.19.50 on BSE.  Lenders led by ICICI Bank are now looking at investment in Gammon arms, as per media reports.

Bankers have ​reportedly ​already sold 74% in one subsidiary and are close to selling 74% in another subsidiary to a consortium of non-resident Indians. The company experienced a spurt in volume by more than 1.51 times.

The scrip opened at Rs. 19.3 and has touched a high and low of Rs. 20.5 and Rs. 18.5 respectively. So far 1328376(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 242.29 crore.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 30 on 05-Jan-2015 and a 52 week low of Rs. 10.75 on 10-Sep-2015. Last one week high and low of the scrip stood at Rs. 18.7 and Rs. 17.25 respectively.

The promoters holding in the company stood at 34.99 % while Institutions and Non-Institutions held 14.34 % and 50.68 % respectively.

The stock is currently trading below its 200 DMA.

HDFC profit on sale of investments down by 50%

Income from dividend for the quarter ended December 31, 2015 was Rs. 135 crore compared to Rs. 103 crore in the corresponding quarter of the previous year.

Housing Development Finance Corporation Ltd has announced that ​Profit on Sale of Investments for the quarter ended December 31, 2015 was Rs. 57 crore compared to Rs. 113 crore in the corresponding quarter in the previous year.

Income from dividend for the quarter ended December 31, 2015 was Rs. 135 crore compared to Rs. 103 crore in the corresponding quarter of the previous year. This includes dividend of Rs. 127 crore from HDFC Standard Life Insurance Company Limited.

The Corporation, under the loan assignment route sold loans amounting to Rs. 1,240 crore in the quarter ending December 31, 2015 to HDFC Bank (compared to Rs. 1,234 crore during the corresponding quarter of the previous year).

Loans sold in the preceding twelve months amounted to Rs. 12,975 crore.

IDBI Bank mobilises Rs. 1000 crore

Earlier, Government has given approval to IDBI Bank to raise Rs 3,771 crore during the year, by way of Qualified Institutional Placement (QIP).

IDBI Bank has mobilised Rs. 1000 crore through issue of Basel III Compliant Tier 2 bonds on private placement basis to strengthen Bank's capital adequacy. 

Earlier, Government has given approval to IDBI Bank to raise Rs 3,771 crore during the year, by way of Qualified Institutional Placement (QIP).

IDBI Bank Ltd ended at Rs. 88.9, down by Rs. 1.3 or 1.44% from its previous closing of Rs. 90.2 on the BSE.

The scrip opened at Rs. 90.5 and touched a high and low of Rs. 90.95 and Rs. 88.45 respectively. A total of 7244270(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 14259.19 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 95.7 on 03-Dec-2015 and a 52 week low of Rs. 52.45 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 92 and Rs. 87.9 respectively.

The promoters holding in the company stood at 76.5 % while Institutions and Non-Institutions held 13.88 % and 9.63 % respectively.

The stock traded below its 50 DMA.

SEBI proposes fresh norms for REITs public issue

SEBI reportedly said that the proposed norms for the public issuance of REITs relate to appointment of merchant bankers, disclosures in the offer documents and filing of draft papers.

The Securities and Exchange Board of India proposed fresh norms for the public issue of Real Estate Investment Trusts (REITs), including cap of 75 per cent allocation to institutional buyers, according to reports.

SEBI reportedly said that the proposed norms for the public issuance of REITs relate to appointment of merchant bankers, disclosures in the offer documents and filing of draft papers.

 The allocation in the public issue should be maximum 75 per cent to qualified institutional buyers (QIBs) and at least 25 per cent to other investors, SEBI said.

SEBI added that REITs will need to deposit, before the opening of subscription, and keep deposited with the stock exchange, an amount calculated at the rate of 0.5 per cent of the amount of units offered for subscription to the public, says report.

Jet fuel prices cut by 10%

On Thursday, petrol price was cut by 63 paise per litre while diesel will be cheaper by Rs 1.06, effective midnight.

Jet fuel price has been cut by 10%.  On Thursday, petrol price was cut by 63 paise per litre while diesel will be cheaper by Rs 1.06, effective midnight.