Tag Archives: BSE

Voda-Idea merger, Union Budget 2017, BSE listing- Weekly Digest #33

Monday-30th January 2017

  • Vodafone Group and Idea Cellular confirmed that they are in initial talks to merge the two entities, which will biggest consolidation in Indian Telecom History in a cashless deal. Both entities to hold equal rights in the new entity. Idea shot up 26% to ₹97.95 after the announcement.
  • Jaguar Land Rover has suspended its plans to manufacture SUVs in India as feasibility study didn’t favour the project.
  • District Court in Delhi has turned down an appeal by  Sweden’s IKEA against Bengaluru-based consulting company Aikya Global for using a phonetically similar name.
  • HDFC reported a 12% rise in its Q3 results, with its profit increasing from ₹1,521 crores to ₹1,701 crores on YoY basis. This has been attributed to growth from non-individual loans.
  • Tech Mahindra posted a 14% increase in net profit to ₹856 crores for Q3 at ₹856 crores owing to “the strong deal wins”.

 

Tuesday- 31st January 2017

  • The government said that it had identified 18 lakh accounts where substantial cash deposits took place post demonetization and they will be required to divulge the source. This comes as a part of the tax department’s Operation Clean Money Swachh Dhan Abhiyan initiative.
  • Honda announced that it is recalling around 41.580 cars over the issues of the faulty airbag inflators. This has been Hinda’s fourth recall during the period of last 2 years.
  • The possible merger of Idea and Vodafone along with the strong impact of Jio in the market caused Bharti Infratel’s Share to dip to its52 week low of ₹283.10.
  • ICICI Bank posted a 19% drop in net profit for the Q3 at ₹2,442 crores owing to slow loan growth rate.

 

Wednesday- 1st February 2017

  • Finance Minister Arun Jaitley presented the Union Budget 2017, highlights of which can be found here.
  • The market responded positively to the presentation of the Union Budget, as the Sensex surged nearly 486 points to close at 28,141 and the Nifty gained 155 points to 8,716.40. Both indices closed at their highest levels since October 25. Bank Nifty rose 2.6%.
  • Due to incentives to affordable housing in the budget, shares of housing companies such as Ashiana Housing, Puravankara surged up to 19%, while companies like Gruh Finance and DHFL, which provide loans to affordable housing, rose up to 8%.

 

Thursday- 2nd February 2017

  • The world’s largest e-commerce company, Alibaba is leading an investment round between ₹1,350crores and 1,700 crores in the online retail marketplace of PayTm. This will ensure formal entry of Alibaba in the Indian market to compete with Amazon and Flipkart.
  • Amazon has applied to the government of India to invest $500 million in a wholly owned venture in India to stock locally produced food items and sell them online.
  • Vodafone Group’s CEO Vittorio Colao said in a statement that the proposed merger between Vodafone India and Idea Cellular should not be looked upon as Vodafone’s exit from the market but a move against the competitive threat posed by Reliance Jio Infocomm.
  • A special CBI court has acquitted Dayanidhi Maran and Sun TV promoter Kalanithi Maran in a case involving bribery allegations.
  • TRAI said Reliance Jio’s second promotional offer. Happy New Year offer is not an extension of its previous welcome offer and has passed the same opinion to Telecom Disputes Settlement Appellate Tribunal (TDSAT). Airtel and Idea had alleged that it was an extension of free offer hence not allowable.

 

Friday- 3rd February 2017

  • BSE made a record-setting debut in the market at 32.8% premium over the issue price of ₹806 at ₹1085 and reached the day’s high of ₹1,200. It closed at ₹1,070.55
  • The Supreme Court has refused to let Aircel go off the hook regarding corruption allegations as T Ananda Krishnan failed to appear for the hearing. This further casts doubt on proposed merger of Reliance Communications with Aircel.
  •  Reliance Jio Infocomm and PayTm received notices from the Government over the use of  Prime Minister Narendra Modi’s photographs on their advertisements and they have been asked if they had obtained prior approval regarding the same.
  • Managing Director and CEO of IFDC, Vikram Limaye is set to become the new MD & CEO of the National Stock Exchange.
  • After a clean chit was issued to the company’s founder, Sun TV network soared 25% to ₹699, its 52-week high.

 

Source: The Economic Times
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Service Charge optional, PayTm’s new investment, SEBI approves BSE’s IPO- Weekly Digest #29

Monday- 2nd January 2017

  • Industrialists Sunil Munjal and Saroj Poddar are in talks to buy a minor stake in digital payments platform, Paytm. Sunil Munjal is the chairman of Hero Corporate Services and Saroj Poddar is the chairman of fertiliser and engineering services conglomerate Adventz Group.
  • Anshu Jain, the former coCEO of Deutsche Bank has joined the New York-based investment banking firm Cantor Fitzgerald (CFLP) as the president.
  • Department of Consumer Affairs has made service charges billed by the restaurants as optional at the discretion of the consumers.
  • Banks stock saw a fall in prices in the market as investors took the selling stance on the stock.The SBI stock shrank about 2.50%, State Bank of Travancore fell 2.02%, and HDFC tumbled 3.4%.

 

Tuesday-3rd January 2017

  • Tata Sons has issued a notice to remove former chairman Cyrus Mistry from its board. Tata Sons is looking to severe the Mistry family’s direct involvement in the board decisions of the Tata Group’s holding company.
  • As per a top Government Official, Foxconn Technology’s plans to take over Nokia’s manufacturing facility in Tamil Nadu will not be affected by Indian Taxation regime.
    Foxconn had said that it won’t bear the tax liability slapped on Nokia’s plant.
  • According to its founder Vijay Shekhar, Paytm has received approval from the central bank to launch the Paytm Payment Bank. The first branch will open in Noida in Uttar Pradesh by next month
  • SEBI has given its final approval for IPO of Bombay Stock Exchange (BSE). It is expected to raise INR 1,200-1,300 crores and hit the market in the later part of January 2017.

 

Wednesday- 4th January 2017

  • In another effort against black money, the finance ministry has sent a joint secretary to Reserve Bank of India to coordinate the central bank’s currency chest operations. It also advised that at least 40% of banknotes are supplied to rural areas.
  • Novelis Inc, Atlanta-headquartered arm of Aditya Birla group flagship Hindalco is refinancing $1.8 billion of its term loans for a period of five-and-a-half years to lower borrowing costs.
  • Xiaomi India reported a $1 billion revenue for the year 2016, as its sales doubled in the offline market. Xiaomi had entered the Indian market just 2 years back and is currently ranked 4th in India.
  • Tata Power Co has appointed S Padmanabhan as its chairman, in place of Cyrus Mistry who resigned last month.

 

Thursday- 5th January 2017

  • Flipkart’s largest vendor, WS Retail reported 33% increase in sales of INR 13,921 crores for the year ended March 2016. WS Retail’s net profit surged to INR 5.2 crore from 84 lakh a year ago. The company accounts for nearly 90% of goods sold on Flipkart
  • Shares of Tata Motors rose more than 3% to their highest closing in two months on Thursday, after the automaker’s Jaguar Land Rover subsidiary reported strong US sales for December.
  • Apple Inc has confirmed its plan for an investment of $1 billion in a tech fund being set up by Japan’s SoftBank Group. SoftBank has said it is investing at least $25 billion in the fund.

Friday- 6th January 2017

  • Due to proposed changes in H-1B visa, Indian IT companies saw a plunge in their prices in the market. Investors are now cautious to buy stock of IT companies with operation in the US. Infosys fell 2.5%, TCS was down 2.2%, HCL Tech declined 3.55% and Tech Mahindra 3.8%.
  • Tata Sons has called an extraordinary general meeting (EGM) on February 6 to seek the removal of Cyrus Mistry from the board of the group’s holding company.
  • Founders of Fortis Health Care, Malvinder Singh and Shivinder Singh are looking to carry out elaborate transactions to divest management controls in all their key businesses to raise an amount of INR 5,500 crores and tide over the cash crunch at the group level. They will retain a significant minority stake in most of these companies.

Source: The Economic Times

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BSE-Twitter ties,Jubilant Foodworks slumps, Union budget modifications- Weekly Digest #15

Monday- 19th September 2016

  • Bombay Stock Exchange has partnered with Twitter to provide live updates of Sensex levels, stock prices and opening and closing figures of Sensex companies. This will be Asia’s first such collaboration between a stock exchange and a social media platform.
  • Chinese real estate giant Dalian Wanda has announced a $10-billion investment in India and is seeking several concessions for the industrial park that it’s planning to develop in Haryana and its other investments.
  • French state-run power major EDF plans invest heavily in renewable energy in India, with projects worth $2 billion in the pipeline. It is bullish about the sector, where it sees electricity tariffs falling 30% in five years.
  • Venture capital firm Bessemer Venture Partners has led a new round of funding of INR 100 crores in the online food-delivery company Swiggy. The funding will be used by Swiggy to improve customer experience, expanding the current base of 9,000 restaurants and better delivery efficiency.

 

Tuesday-20th September 2016

  • Online furniture and home decor marketplace Pepperfry has raised INR 210 crore as part of a new round of funding from existing investors. The said funds to be utilised for expanding to 1,000 cities in the next two years.
  • Mobile phone manufacturers have approached the finance ministry seeking continuation of the differential duty structure and the benefits that come with it, which they fear would become a casualty when the goods and services tax comes into effect.
  • Shares of Jubilant FoodWorks slumped to their lowest level since February on Tuesday after its chief executive officer and whole-time director Ajay Kaul resigned. The stock lost 6% to end at INR 944.15 on the BSE after falling as much as 8% intraday.

 

Wednesday- 21st September 2016

  • The Cabinet on Wednesday cleared the long-pending compensation of  INR 1,250 crore for public sector telecom company BSNL to support rural landline connections installed before April 1, 2002.
  • The INR 6,000-crore IPO of ICICI Prudential Life Insurance closed on a strong note with the issue getting subscribed 10.4 times. The issue, priced between INR 300 -334, is the first by an insurer in India and the biggest since Coal India’s INR 15,000-crore issue in 2010.
  • India’s economic position with the external world improved substantially in the June quarter with the current account deficit falling to a decade low supported by a collapse in commodity prices, but falling short of expectations of a surplus.
  • The government has decided to carry out three kinds of changes in the Union Budget: to advance its presentation by 27 days, to do away with a separate railway budget and to dispense with Plan-non-Plan dichotomy in expenditure.
  • Volkswagen faces $9.1 billion in damages claims from investors over its emissions scandal in the legal district where the carmaker is based, a German court said.

 

Thursday- 22nd September 2016

  • The government has appointed three members to the monetary policy committee (MPC),  with the task of setting interest rates, ending the Reserve Bank of India governor’s role as sole arbiter. Its first policy review is scheduled for October 4.
  • HDFC Bank has raised an amount of INR 6,700 crores by selling infrastructure bonds to top fund houses such as Reliance MF, ICICI Prudential, Birla Sun Life MF & Kotak MF. They offer 7.95% interest with a 10-year maturity.
  • Tata Sky, a direct-to-home (DTH) player, has earmarked INR 35-40 crore to spend on marketing alone as it plans to press the accelerator with its new marketing blitzkrieg.

 

Friday- 23rd September 2016

  • India has signed a $ 7.87 billion deal with the  French government to purchase new Rafale fighter jets. The negotiations for the same had lasted for 18 months.
  • SEBI has asked credit rating agencies to come out with disclosures and fix accountabilities so that situation similar to the one that occurred last September with Amtek Auto is not repeated.
  • Among the rumours that Specified Undertaking of Unit Trust of India (SUUTI) may sell its stake in the Axis Bank, shares of the bank fell nearly 6%,  the most in 11 months.
  • L&T Technology Services made a neutral debut in the market, with the price of a share closing at INR 865.10, 0.6% higher than its issue price of INR 860

 

Source: The Economic Times

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