State Bank of India announced the revision in interest rates on retail term deposits (below Rs One crore) as under with effect from December 08, 2014:
For tenure 1 year to less than 3 years - revised from 8.75% to 8.50%
For tenure 3 years to less than 5 years - revised from 8.75% to 8.50%
For tenure 5 years and above - revised from 8.50% to 8.25%.
SAIL OFS subscribed 42%
That the retail portion was subscribed 22%, while the non-retail portion had garnered 44% subscription. SAIL's offer for sale (OFS) was subscribed 42%, according to reports. That the retail portion was subscribed 22%, while the non-retail portion had garnered 44% subscription. The floor price was fixed at Rs 83 per share set by the government.
IT stocks trade lower
TCS, Tech Mahindra, Oracle are the major losers. Shares of IT majors are trading on a weak note as investors are cautious ahead of US job data for the November month and due to appreciation of Indian rupee against the US dollar. The Indian currency is now trading higher by 9 paise at 61.85 versus the US dollar.Tech Mahindra has tumbled 2 per cent at Rs. 2,625. TCS has slumped to a low of 2,582 and now, is down 1.9 per cent at Rs. 2,586.Oracle Financial Services Software has slipped 1.5 per cent at Rs. 3,470. Wipro and HCL Tech are trading with a loss of 1.4 per cent each at Rs. 583 and Rs. 1,601, respectively. Infosys has declined by 1.3 per cent at Rs. 2,075.
Maruti Suzuki achieves total production of 117,370 units in Nov 2014
Maruti Suzuki India announced that the Company achieved total production of 117,370 units in November 2014 compared to 93,900 units in November 2013.
The Company's domestic sales in November 2014 stood at 100,024 units compared to 85,510 units in November 2013. Exports stood at 10,123 units in November 2014 compared to 6,630 units in November 2013.
Selan Exploration rallies 12% as RBI lifts ban on FII buying
Selan Exploration Technology gained over 12%, touching to Rs427.7, after the central bank removed restriction on purchase of shares by foreign portfolio investors in company. The Reserve Bank of India on Thursday, (December 04, 2014), notified that the foreign shareholding by Non-Resident Indians (NRI)/Persons of Indian Origins (PIOs) in Selan Exploration Technology have gone below the revised threshold caution limit. Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect. The RBI further notified that the NRI/PIOs can now invest up to 24% of the paid up capital of Selan Exploration Technology under the Portfolio Investment Scheme. The Reserve Bank has stated that Selan Exploration Technology has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by NRI/PIOs. The purchases could be made through primary market and stock exchanges, the RBI said.
Reliance signs agreement with Petroleos Mexicanos
Reliance Industries has signed an agreement with Petroleos Mexicanos (PEMEX) for assessment and providing Technical support for potential upstream oil and gas business opportunities in Mexico and jointly evaluate value added opportunities in international markets. Reliance Industries’ agreement with PEMEX is in line with its growth strategy to explore opportunities to expand its international asset base in regimes having internationally attractive competitive terms; Sentimentally Positive for Reliance Industries.
Bank continues to deliver strong operating performance
The Bank continues to deliver a strong operating performance led by a healthy loan growth and an expansion in margins, and a check on the opex growth. We believe the given sharp improvement in its liability profile and the net interest margins will sustain at high levels. In addition, the likely pick-up in fee income (especially the corporate fees due to recovery in economy) could improve the operating profits
HCC concessions sells its Annuity Road Project in AP
Hindustan Construction Company (HCC) has announced that HCC Concessions, Subsidiary Company has announced the sale of Nirmal BOT, its annuity project in Andhra Pradesh to Highway Concession One Pvt. Ltd. an entity majorly held by IDFC Alternatives managed India Infrastructure Fund.HCC Concessions, Subsidiary Company shall receive total consideration of Rs64 crore for this transaction. Further, Nirmal BOT Ltd has also received an arbitration award in its favour for Rs16.67 crore, which shall be payable to HCC, upon receipt.
ONGC to acquire stake in two Siberian Oilfields
ONGC is looking to acquire stake in two Siberian Oilfields. ONGC Videsh, the overseas arm of ONGC, will sign a memorandum of understanding (MoU) for acquiring the stake in Vankor and Yurubcheno-Tokhomskoye fields. The Initial recoverable reserves of Vankor are estimated at 500 million tonnes of oil and 182 billion cubic meters of gas as on January 1, 2014.
DVRs index inclusion decision early in 2015
DVRs index inclusion decision will be taken next year, early in 2015 to reflect the true size of a company and market segment. It also allows companies to raise money from the market without diluting stake. Currently, fours DVRs are traded on the BSE - Tata Motors, Future Retail, Gujarat NRE Coke and Jain Irrigation. Sentimentally positive for the stock.
0 comments:
Post a Comment