TOP CORPORATE NEWS 15 September 2014

·        Yes Bank falls further, FIIs need RBI nod to buy shares

Shares of Yes Bank declined further to 4% after the Reserve Bank of India on Friday said the foreign investors will need RBI's approval to buy additional equity in the private sector lender.

·        LIC Housing to focus on high yielding products

LIC Housing Finance Ltd expects margins to improve led by reduction in its borrowings from the banks and focus on high yielding loans like loan against properties.

·        RIL's $10 billion investment depends on government approval

Reliance Industries $10 billion investment in new fields off the east coast depends on the government approving acceptable gas price, says its partner in KG D6 basin, Niko Resources during its annual general meeting.

·        Mastek up 15%, to merge insurance products & services biz

Shares of Mastek are roaring with hefty gains after it announced demerger of the insurance products and services business into a separate listed company.

INDIAN BENCHMARK open lower, amid weak global cues,

INDIAN BENCHMARK open lower, amid weak global cues, as weak industrial growth in July is likely to weigh on investor sentiment. Inflation data based on wholesale price index (WPI) for August to be released later today.

FURTHER, SAIL will be in under pressure after the process for the 5% stake sale by the government will commence this week. Lupin Ltd has entered into an agreement with US-based Salix Pharmaceuticals to market gastrointestinal drugs in Canada.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net sellers of Rs. 208cr, as per the provisional figures released by the NSE.

TOP CORPORATE NEWS 09 September 2014

·        Apollo Tyres at record high, to set up new plant in Hungary

Shares of Apollo Tyres is setting up a new plant in Hungary at an investment of Rs 3,450 crore and the investment aid given by the country's government has been cleared by European Commission.

·        Tyre stocks gain as weak rubber, oil prices to boost margins

Shares of tyre companies were up 1-3% as lower raw material costs on account of weak natural rubber and declining crude oil prices would boost margins going forward.

·        Shares of five new F&O entrants gain

Share prices of five new entrants to the future and options (F&O) segment gained. NSE through a circular said that F&O contracts on Eicher Motors, Motherson Sumi, SKS Microfinance, Mindtree and TVS Motor would be available starting September 10, 2014.

·        Indusind Bank expands presence across New Delhi

Indusind Bank Ltd has opened a new branch across New Delhi. The Bank plans to further strengthen its presence and customer reach in the country’s capital with more branches in the coming quarters.

Morning Mail Upadate 21 August 2014

INDIAN BENCHMARK open on a flat note tracking a mostly weak trend across markets in Asia as a sharp slowdown in China’s manufacturing underscored concerns over the health of the world’s second biggest economy, overshadowing Federal Reserve’s commitment to continue to keep interest rates low.

FURTHER, DLF Ltd is planning to reduce debt to Rs 12,000-14,000 crore by FY17 through asset monetization. Reliance Infrastructure has filed an appeal in the Appellate Tribunal for Electricity against the Maharashtra Electricity Regulatory Commission pleading a stay on its recent order in change-over and switchover of its consumers to Tata Power in the Mumbai distribution area.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Friday while the DIIs were net sellers of Rs. 481cr, as per the provisional figures released by the NSE.

INDIAN BENCHMARKS end at record closing high

INDIAN EQUITY BENCHMARKS ended at fresh life time high on positive global cues and a sharp decline in crude oil prices.

·         Tata Motors DVR jumped 5.6 percent after a report in the Times of India newspaper that Indian exchanges may consider admitting such shares on their benchmark indexes.

·         Further, Jubilant Foodworks gained 6.2 percent after Bank of America Merrill Lynch started coverage with a buy rating and a target price of 1,375 rupees, saying the company is in a "sweet spot" in the large and high-growth quick service restaurants market.

The crucial resistance for Nifty is now seen at 7910 and above this 7945. Support for the immediate term is now placed at 7780 and next support will be 7740.

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