NSE WEEKLY NEWS UPDATE
✍ FIIs inflow reaches Rs 21,000cr so far in January
Overseas investors have pumped in a staggering over Rs 21,000 crore in Indian capital markets since the beginning of the month owing to easing inflation and rate cut by Reserve Bank of India (RBI). Foreign Institutional Investors (FIIs) have bought shares worth Rs 5,992 crore ($977 million) till January 23, while bought debt worth Rs 15,336 crore ($2.5 billion) taking the total investment to Rs 21,328 crore ($3.45 billion), latest data with Central Depository Services Ltd (CDSL) showed.
✍ Adlabs Imagica and Aquamagica exceed 1 million visitor mark in FY 2014-15
Adlabs Imagica, India’s first and only International standard Theme Park and the recently opened water nation Aquamagica celebrate the milestone record of exceeding 1 million visitor arrivals in the Fiscal Year 2014-15. The Theme Park and Water Park have entertained guests with unique and never seen before experiences in the magical land created by Adlabs Entertainment Ltd.With growing popularity across the country, this summer Adlabs Entertainment Ltd. is all set to invite holiday – goers to their one-of-its-kind complete entertainment destination. Visitors can experience Imagica, Aquamagica and adding to the destination is the soon to open Novotel Imagica Khopoli that will have 287 rooms coupled with various other attractive facilities during their visit.
✍ EPFO updates 15.5 crore accounts on 1st April itself
For the first time, in the history of Employees’ Provident Fund Organisation (EPFO), accounts of all EPF members have been updated on 1st April itself. Bandaru Dattatreya, Union Minister of State (IC), Minister of Labour & Employment, has complimented EPFO for achieving this major mile stone on the first day itself of the financial year (2015-16). Dattatreya stated that the process on April 1, 2015 has updated 15.54 crore member accounts. Earlier this work used to take years. The exercise has also enabled EPFO to know the status of inoperative and active accounts in a fairly reasonable manner. It has been found that 6.56 crore accounts are active, 8.08 crore accounts are inoperative and 89.58 lakh accounts are already settled. It also emerged that accounts belong to 6.31 lakh establishments. The Chief Provident Fund Commissioner (CPFC), KK Jalan and his team of officers were working hard for the last two months to make this unique feat possible and successful. One hundred and twenty field offices also worked hard to ensure that all legacy pending cases were sorted out before hand so that accounts updation becomes easier. It was only during 2014-15 that more than 99% of accounts were updated before the due date, i.e. September 30 of the financial year. In earlier years, the work used to take years for getting it completed.
✍ SEBI revises FII limit for $-Re pair in F&O
The SEBI has increased the limits in the rupee-dollar currency pair for foreign portfolio investors (FPIs) in the currency derivatives segment (for both long and short positions) from $10 million to $15 million without having any underlying exposure.
SEBI in a notification on Wednesday said, “FPIs may take long as well as short positions per stock exchange upto the following limit without having to establish the existence of any underlying exposure:
✍ (i) USD-INR currency pair: USD 15 million;
✍ (ii) EUR-INR, GBP-INR and JPY-INR currency pairs (all put together): USD 5 million”
SEBI further said, “FPIs shall ensure that their short positions at a stock exchange across all contracts in USD-INR pair do not exceed USD 15 million and do not exceed USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together.” In the event a FPI breaches the short position limit, stock exchanges shall restrict the FPI from increasing its existing short positions or creating new short positions in the currency pair till such time FPI complies with the said requirement. To take long positions in excess of USD 15 million in USD-INR pair and in excess of USD 5 million in EUR-INR, GBP-INR and JPY-INR pairs, all put together, FPIs shall be required to have an underlying exposure in Indian debt or equity securities, including units of equity/debt mutual funds. F&O total turnover stood at Rs 1,81,220.87 crore on April 8 and the total number of contracts traded on the day were 71,37,137.
✍ MFs report net inflows of Rs. 183.65bn in Feb: SEBI –
Mutual funds saw net inflow of Rs. 18,365 crore in February 2015 as compared to a net inflow of Rs. 1,06,878 crore in January 2015, according to SEBI Bulletin published for the month of February. Private sector mutual funds witnessed inflow of Rs. 13,212 crore in February 2015 as against Rs. 91,162 crore in January 2015. Public sector mutual funds reported inflow of Rs. 5,154 crore in February as compared to Rs. 15,716 crore in January 2015. S&P BSE Sensex closed at 29361.5 on February 28, 2015, as against 29,183 on January 30, 2015, registering an increase of 31.2 points (0.6 percent). During February 2015, Sensex recorded an intraday high of 29,560.3 on February 28, 2015 and an intraday low of 28,044.5 on February 10, 2015. CNX Nifty closed at 8,901.8 on February 28, 2015 compared to 8,808.9 on January 30, 2015 indicating an increase of 32.8 points (1.1 percent). During February 2015, Nifty recorded an intraday high of 8,941.1 on February 28, 2015 and an intraday low of 8,470.5 on February 10, 2015.
✍ SEBI to look for possibility of strategy-based derivative contracts –
The Securities and Exchange Board of India (SEBI) is considering the possibility to allow strategy-based derivative trading, according to a media report. The objective is to help bring in various new products in the derivative trading segment, the report added. The new proposal, which is in early stage of consideration, involves allowing derivative contracts based on an investment strategy linked to different asset classes and different macro-economic and other factors, the report further said. A derivative is a security whose price is dependent upon or derived from one or more underlying assets. The derivative itself is merely a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and market indexes.
✍ Inox Wind ends flat
Inox Wind closed flat to Rs. 438 this morning on the second day of trade on the bourses following strong fund action at the counter
According to reports, Reliance Capital Mutual Fund yesterday bought 13 lakh shares at Rs. 410 per share, and RG Capital purchased 12.39 lakh shares at Rs. 430 per share. The stock has hit a high of Rs 452 and a low of Rs 433. Total traded quantity on the counter stood at over 15.20 lk shares.
✍ Inox Wind debuts at 23% premium
Inox Wind listed at Rs. 400 a premium of 23 percent when compared to its issue price of Rs. 325.
The company’s Rs. 700 crore IPO (Initial Public Offer) was subscribed over 18 times. The company further allocated shares worth Rs. 306 crore to anchor investors, thus taking the total issue size to over Rs. 1,000 crore.
The stock so far has seen trades of around 998,000 shares on the BSE, and there are pending buy orders for over 125,000 shares at Rs. 400.
Shares of Gujarat Flurochemicals the promoter company of Inox Winds are up 0.6 percent at Rs. 757.
Meanwhile, the Sensex has slipped into red and is now down 85 points at 28,623.
✍ Adlabs Entertainment lists 10% lower on debut
Shares of Adlabs Entertainment listed at Rs 162, 10% below its issue price of Rs 180, on NSE. The stock hit high of Rs 194 and a low of Rs 155.The issue was subscribed 1.09 times. Adlabs had revised price band at Rs 180 -215 a share versus earlier band of Rs 221-230 a share.
✍ Kotak Mahindra Bank revises base rate; ends 1.8% up
Kotak Mahindra Bank has reduced its Base Rate from current level of 10% p.a to 9.85% p.a with effect from 16th April 2015. All the categories of loans (other than the exceptions permitted by RBI) will be priced with reference to the revised Base Rate. Shares of Kotak Bank gained 1.8% higher at Rs. 1,446 on BSE today. The stock has hit a high of Rs. 1,454 and a low of Rs. 1,411 on BSE today. Total traded quantity on the counter stood at over 0.63 lk shares on BSE. On Monday, the benchmark BSE Sensex started the day with a positive gap of 76-odd points at 28,955 on the back of better-than-expected IIP numbers and finally ended with a gain of 165 points at 29,044.
✍ KNR Constructions bags order worth Rs. 729 crores for upgradation of roads
KNR Constructions has been awarded by Project Director, Tamil Nadu of Rs. 729 crore from a Tamil Nadu government undertaking for upgradation of roads. The company said its first order is for developing “Kanchipuram -Vandavasi road and Sdras -Chengalpattu -Kancheepuram -Arakonam -Thiruthani road” which is to be completed within a period of 36 months from the appointed date. The second project is for upgrading “Arcot Villupuram Road” which is to be completed within a period of 42 months and the third order is for “upgrading Malliyakarai-Rasipuram-Thiruchengode-Erode Road” from the appointed date .
✍ Top corporate news of the day – April 07, 2015
Cairn India has filed a writ petition in the Delhi High Court against Rs204.9bn tax demand from the government.
Bajaj Auto reported 22% slide in overall two-wheeler volumes in March at 209,937 units as against 270,578 units sold in the same month last year.
KEC International Ltd has won new orders worth Rs15.65bn under its transmission and distribution and cables businesses.
MOIL Ltd slashed prices of various grades of manganese ore by up to 25% for the April-June quarter.
Larsen & Toubro said its construction arm has bagged orders worth Rs 54.92bn across various segments in March.
Maruti Suzuki India it sold 62,996 factory-fitted CNG vehicles in the last financial year (2014-15), a growth of 23% over the previous year.
Oil Ministry has allowed national oil companies ONGC and Oil India Ltd to sell any new natural gas supplies from their small and isolated fields through an open tender.
NTPC is looking at bringing its coal import bill to ‘zero’ in the next five years and will rely on the fossil fuel made available by Coal India and the company’s own mines.
Ramky Infratructure Limited through a joint venture with TK Engineering Consortium has announced that it has bagged a road project worth Rs8.29bn in Assam.
Canara Bank is looking at raising Rs15.20bn from Life Insurance Corporation of India (LIC) by making a preferential allotment of 40mn equity shares.
SAIL, Tata Steel and other players in the sector today inked a pact with the government for setting up a research and development body SRTMI with an initial corpus of Rs2bn.
Mahindra & Mahindra has acquired 450 acres land at Cheyyar in Thiruvannamalai district in Tamil Nadu to set up a greenfield automobile plant. The company would invest about Rs40bn in this plant in two phases.
The Aditya Birla Group is working on a restructuring plan to bring all its retail verticals under Pantaloon Fashion & Retail in a move to unlock value and accrue synergy benefits for the business.
Oil and Natural Gas Corporation has reversed a seven-year decline in its crude oil production, showing a marginal increase in output in 2014-15.
Srei Equipment Finance proposed to raise up to Rs2.5bn through a public issue of redeemable non-convertible debentures with an option to retain oversubscription of additional amount up to Rs5bn.
Vedanta Group company Sesa Sterlite Ltd said the company has completed the merger of its subsidiary Sterlite Infra with itself.
Jet Airways welcomed the decision of the US Federal Aviation Administration (FAA) to restore India’s aviation safety ranking to category 1, which paves the way for the airline to expand its operations in the US market.
NTPC is planning to acquire a plant with up to 4,000 MW capacity for about Rs200bn. The company is in talks with two-three firms, including stranded projects of private companies, and they are at advance stages.
Power Grid Corp said the call to implement the proposed Rs30bn undersea power transmission link has to be taken by Sri Lanka.
In the wake of Russia banning imports of dairy products from Europe, Parag Milk Foods is looking to tap cheese exports to Russia.
Within three months of its launch, Vistara, a joint venture of Singapore Airlines and Tata Group announced the start of Delhi-Pune-Delhi flight. The airline will operate this flight on a daily basis.
Aurobindo Pharma Ltd has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Atracurium Besylate Injection, 10mg/mL, 5mL single-dose vials and 10mg/mL, 10mL multi-dose vials.
Cipla Ltd has entered into an agreement to acquire 100% stake in Brazil’s Duomed Produtos Farmaceuticos Ltda, for about Rs260mn.
RIL’s telecom arm Reliance Jio Infocomm has launched its own instant messaging and calling application ‘Jio Chat’.
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