Tag Archives: Nifty

ICICI Q4 results, Patanjali now second in race, NPA Ordinance- Weekly Digest #43

Monday- 1st May 2017

  • Ola reported a consolidated PBT of ₹2,313 crores for FY 16 in comparison to FY 15 loss of ₹796 crores. This has been attributed to heavy spending to maintain market leadership against Uber.
  • Xander Group to acquire 100% interest in Shriram’s Gateway SEZ in Chennai for $190 million. This is the largest private equity buyout so far in India’s real estate sector.
  • SBI has cut deposit rates by up to 50 basis points for maturities above two years. however, it has retained the 7.40% on one-year deposits for senior citizens.

 

Tuesday-2nd May 2017

  • PepsiCo to roll out Pepsi Black, a zero-sugar cola in cans, to counter Coke Zero, reflecting the shifting consumer preference towards less sugary drinks in India.
  • China Development Bank has objected to the $6billion merger of debt-ridden telecom operators RCom and Aircel even as regulators including the Competition Commission of India have signed off on the deal. The assets transferred are offered as security to Chinese Bank and thus they seek a lender’s meeting.
  • Infosys said that it would hire 10,000 US workers over the next two years as Indian IT industry looks to mitigate the impact of the tighter work visa rules.
  • SIPs in MFs rose to an all-time high of ₹4,200 crores in the month of April 2017.
  • Promoters of HDFC Life and Max Life have extended the deadline for the merger of the two life insurers by a year to June 2018 because the sector regulator has yet to give its nod for the proposed deal.

 

Wednesday- 3rd May 2017

  • The cabinet cleared the NPA resolution package that includes an ordinance to empower the RBI to more effectively deal with bad assets. It also approved a new policy to boost consumption of locally produced steel and modifications to recommendations of the Seventh Central Pay Commission with respect to pensioners.
  • Private Equity Investors TPG and General Atlantic (GA) have joined forces in a bid to acquire a controlling stake in Fortis Healthcare. This also involves the purchase of the diagnostics arm SRL.
  • Ratan Tata’s venture fund RNT Capital Advisors and US hedge fund Falcon Edge have invested an amount of $100 million in Ola in exchange of shares of the company at ₹13,521 each.
  • Brinton Pharmaceuticals has raised an amount of $4 million from Tata Capital Healthcare Fund, as the firm looks to enter into newer areas such paediatrics and gynaecology and expand its international operations.
  • ICICI posted 3 times rise in net profit for Q4 on the YoY basis at ₹2,025 crores from last year’s ₹702 crores.  It announced a dividend of ₹2.5 per share and a bonus share for every 10 shares.

 

Thursday- 4th May 2017

  • The Nifty closed at an all-time high while the Sensex ended above the 30,000 mark, a day after ICICI Bank posted times increase in its profits and cabinet approved NPA resolution. Sensex closed at 30,126 points and nifty closed at 9,360 points.
  • India urged the UK to expedite extradition of Vijay Mallya and other fugitives besides raising the issue of visa-related difficulties faced by Indian students and skilled professionals at the maiden home secretary-level talks.
  • Patanjali reported a revenue of ₹10,561 crores for FY17, making it the second largest FMCG player, behind HUL.
  • Facebook has tied up with Bharti Airtel to deploy 20,000 Wi-Fi hotspots across the country to offer affordable internet services through the social networking major’s Express WiFi service over the next few months.

 

Friday-5th May 2017

  • Sachin Tendulkar and Pepsico are coming together to produce a raft of nutrition-focused food products and beverages through a new firm, Liquefy Innovations LLP.
  • Cement giant LafargeHolcim has initiated a process that could lead to the union of its Indian operations ACC and Ambuja Cement.
  • Sensex and Nifty fell over 1% as banks reversed previous day’s gains. Nifty ended at 9,285 points and the Sensex at29,859 points.

 

Source: The Economic Times

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Sensex hits 30K, Delhi HC turns down RBI, RCom-Aircel Merger – Weekly Digest #42

Monday- 24th April 2017

  • Reliance Industries reported a 12.3% increase in quarterly net profit to ₹8,046 crores owing to robust petrochemical and refining margin. Jio reported a net loss for the six months as ₹22.50 crores.
  • Owing to strong cues from French presidential elections, the Sensex rose 290.5 points to close at 29,656 points while Nifty gained 98points to reclaim 9,200 level.
  • The shareholders Reliance Communications and Aircel approved the merger of the mobile businesses of their companies to form the India’s fourth largest telecommunication company.

 

Tuesday- 18th April 2017

  • Owing to French Presidential elections and Trump’s indicating tax rate cuts, Sensex rose to 29,943.24 points and Nifty crossed the 9,300 mark, touchingits all time high.
  • Welspun India’s fourth quarter profit fell 21.5% to ₹153.8 crores as it is still recovering from Target’s exit due to its fake Egyptian cotton sheets.
  • Following feud between Cyrus Mystry and TATA sons, a director with seats in Tata and Wadia Group companies decided to step down from the latter. Cyrus Mistry’s brother, Shapoor Mistry stepped down from the board of Tata-owned Indian Hotels.
  • The Lodha Group, a Mumbai-based property developer, may acquire as much as 15% of projects company, Vascon Engineers, seeking to tap into the expanding demand for affordable housing in India.
  • NTPC and HPCL-Mittal Energy have raised money through ₹2,400 crores Masala Bond sales to overseas investors.

 

Wednesday- 19th April 2017

  • Rupee surged to its strongest in 20 months s dollars flooded into local equities and bonds, prompting RBI to intervene to limit gains, which erode the profitability of exporters. The rupee touched 63.93 before being pulled back to 64.11 at close.
  • The Sensex closed above 30,000 mark for the first time, mirroring optimism in the US markets where Nasdaq Composite crossed 6,000 for the first time. Nifty closed at a fresh all time high of 9,352 points.
  • Sebi has approved introduction of options contracts in the commodities market. Details to be worked out in due course.

 

Thursday- 20th April 2017

  • One 97 Communications, owner of online payments provider Paytm, is set to raise over ₹12,000 crore SoftBank. This will value the company at around $9 billion and provide a 20% stake to SoftBank.
  • Maruti Suzuki India Limited reported a 16%increase in its Q4 net profits to ₹1,709 crores owing to higher sales of premium models such as Baleno and Brezza.
  • HDFC bank hit record high Market Cap of ₹4 lakh crore as it reached the intraday high of ₹1,572 before closing at 1,567.

 

Friday-21st April 2017

  • The Delhi High Court allowed Tata Sons to pay NTT Docomo a $1.18 billion arbitration award despite RBI protesting against the same. RBI was protetsing on the ground that it amounted to transfer of shares resulting in violation of law.
  • Amazon’s founder Jeff Bezos said that he is grateful for Indian Customers to make Amazon India the country’s most popular Web marketplace with a promise that he’ll keep investing in Indian business of Amazon.
  • Paytm Ecommerce has appointed SAIF Partner’s Ravi Adusumalli and four employees from investor Alibaba on the board of directors, according to filings made with the MCA.
  • Kotak Mahindra Bank to buy entire 26% stake held by Old Mutual plc, in Kotak Mahindra Old Mutual Life Insurance for ₹1,292 crores, valuing the company at ₹4,672 crores.

 

Source: The Economic Times

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Market begins recovery, DTA with Singapore revised, Holding SBNs Criminalised- Weekly Digest #28

Monday- 26th December 2016

  • eBay India reported a three times rise in the sales in 2015-16 to Posted Image392 crores. However, its loss widened from  Posted Image172 crores to  Posted Image262 crores this year despite various cost-cutting measures.
  • Godrej Nature’s Basket has initiated its process of shutting all the eight stores it operated in NCR. It has already closed two stores and will be closing remaining in the coming weeks.
  • Sensex slipped below Brexit Day low, to attain its 7-month low by closing at 25,807 points. Nifty closed at 7,908 points.

Tuesday-27th December 2016

  • Tata Sons accused Cyrus Mistry of passing on confidential information to Cyrus Investments and Sterling Investment Corporation as such information has been included in their petition against Tata Sons before NCLT.
  • After Finance Minister Arun Jaitley’s remarks about possible low tax regime in future, Sensex gained 406 points to reach 26,213 points and Nifty reclaimed the 8,000 mark by reaching 8,032 points.
  • Central Depository Services Limited (CDSL) has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to 3.52 crore shares.
  • Panasonic Corp will invest $256 million in Elon Musk’s Tesla Motors to make photovoltaic (PV) cells and modules, deepening a partnership of the two companies.

 

Wednesday- 28th December 2016

  • The Cabinet approved the ordinance of extinguishing RBI’s liability towards old 500 and 1,000 notes. Also, a penalty for holding such notes will be imposed on those holding such currency in excess of ten units combined after 31st March 2017.
  • ICICI Bank and Twitter announced a partnership which will enable digital customer care support features for the bank, benefiting millions of its customers with direct online response to their queries and feedback in real-time.
  • The National Stock Exchange (NSE) has filed an application for an initial public offering. The size of the IPO is expected to be around Posted Image10,000 crores and will be the third largest IPO in the last six years.
  • Real Estate firm Vatika has raised an amount of Posted Image495 crores as term debt for supporting the growth plans of its hospitality arm, Vatika Hotels.

 

Thursday- 29th December 2016

  • Digital payments and financial services company instantPay has raised an amount of $3-5 million from Singapore-based investors RB Investments and Kaleden Holdings.
  • Tata Sons sent a legal notice to former chairman Cyrus Mistry to return all confidential information he has in his possession and declare in writing that none of it had been shared with Shapoorji Pallonji Group companies, family members and affiliates.
  • Marico chairman, Harsh Mariwala, an independent board director of L&T Finance bought 46,000 shares from open market. L&T Finance has gained over 26% in this sluggish year.

 

Friday- 30th December 2016

  • IDBI bank slashed interest rates by announcing a 40bps cut to 9.30% for three-year loans. State Bank of Travancore slashed benchmark lending rate by up to 0.3% and other banks are expected to follow a similar path.
  • RBI relaxed the daily ATM withdrawal limit to Posted Image4,500 from earlier Posted Image2,500. However, bank withdrawal limit per week stands at Posted Image24,000.
  • India has amended its 2-decade old tax treaty with Singapore that will allow it to tax capital gains on investments from Singapore. Recently, STAs were amended with Cyprus and Mauritius too, plugging round-tripping of funds
  • Prime Minister Narendra Modi launched a mobile app for the Unified Payment Interface (UPI) across different banks and financial institutions, called BHIM (Bharat Interface for Mobile).

 

Source: The Economic Times
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