Yes Bank included in S&P BSE Sensex from Monday

Yes Bank Limited will be included the list of 30-most tracked stocks S&P BSE Sensex with effect from 18-December 2017,  Yes Bank stated in a regulatory filing.

The S&P BSE Sensex is the most tracked bellwether index of India Stock Market. It is designed to gauge the performance of the 30-largest, most liquid and financially sound companies across key sectors of the Indian economy that are listed at BSE Limited.

Shares of Yes Bank Limited closed 3.98% up at Rs. 316.05 on BSE, while the Sensex ended 216.27 points higher at 33,462.97.

Shalby Shares to list shares tomorrow

Multi-specialty hospital chain Shalby Limited, which just concluded its Rs 504.00 crore IPO, will list its shares on NSE and BSE exchanges tomorrow, 15 December 2017. The initial offer, which opened for subscription from Dec 5 to 7, was subscribed 2.8 times at a price band of Rs 245 - 248 per share.  The portion reserved for qualified institutional buyers (QIBs) were subscribed 4.47 times, HNI 43%, retail investors 2.97 times and employees 1.43 times. The IPO included a fresh issue of shares aggregating up to Rs. 480 crore and an offer for sale of up to 10.00 lakh equities.

Govt transfers NCL India shares of Rs 39 cr to Bharat-22 ETF

The government has transferred Rs 39.00 crore worth shares of NLC India Limited (Cement manufacturing company) to Bharat 22 ETF. After the transfer, the shareholding of the President is 1,28,46,03,208 shares, which is 84.04% of equity shares of the company, according to the regulatory filing.

On Nov 20, the govt raised Rs 14,500 crore through the sale of blue-chip shares of PSUs through its newest exchange traded fund (ETF), called ‘Bharat-22”, which got bids of nearly Rs.32000 cr, a mutual fund record, whereby the govt has raised Rs 52,500 cr in the current financial year via PSU disinvestment, including from listing of PSU insurance companies.

The govt had launched the Bharat-22 ETF in August month envisaging raising Rs 8000 crore, with an option to retain over-subscription. The first tranche of the new fund offer opened for retail investors on Nov 15 and closed on Nov 17.The Bharat 22 ETF’s new fund offer has a size of over Rs 8,000 crore.

BSE to auction investment limits for Rs 8,300-cr corp bonds

Leading bourse Bombay Stock Exchange (BSE) has said it will auction investment limits on Friday, to enable foreign investors to purchase corporate bonds worth over Rs 8,300 cr. The auction will be carried out on the BSE’s e-bidXchange platform from 3.30 pm to 5.30 pm, after the close of market hours.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased. A mock bidding session will be carried out on Thursday after the end hours of market to check the performance of the system.

Earlier, in this month, the corporate debt had attracted bids for Rs 12,005 cr from FPIs in an auction of investment limits for such securities, much higher than Rs 9,018 cr that was on offer.

Indian Oil Corpn’s shares fall after gaining 1% intraday

Shares of Indian Oil Corporation (IOC) spurted nearly 1 percent intraday on company’s announcement that it launches nation’s first electric vehicle charging station at a petrol pump in Nagpur. IOC shares were trading down by 0.05% at Rs. 395.80 at the mid-noon hours, on Wednesday.

The scrip touched an intraday high and a low of Rs. 399.10 and Rs. 392 respectively. In terms of equity volume, there were 1.81 lakh shares exchanged hands on the BSE. India's largest commercial enterprise, IOC, in collaboration with OLA, has launched the country’s first electric charging station at one of its petrol-diesel stations in Nagpur.

Reliance General Insurance enters into multiyear “Bancassurance” tie-up with YES Bank

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Non-life Insurer, Reliance General Insurance Co. Ltd (RGI), a subsidiary of Reliance Capital has inked a comprehensive Bancassurance tie-up (A corporate Agency agreement) with YES BANK with the aim to distribute multiple general insurance products to the YES BANK customers, further expanding its distribution network.

This is the first tie-up signed by the bank since the open-architecture norms under the Corporate Agency regulations were introduced by IRDAI in April 2016. With this alliance, Yes Bank remains committed to leveraging its Pan-India branch network to capitalize on the vast opportunities in the Indian bancassurance market.

The bancassurance channel is expected to have potential to reach out to the last mile and serve untapped markets, thus promoting the insurance penetration in India. 

HDFC Standard Life to make stock market debut tomorrow

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Having been recently concluded an IPO worth Rs 8,695-crore, the HDFC Standard Life Insurance Company, makes its debut on stock exchanges tomorrow, 17 November 2017. The shares will be enlisted both on the BSE and NSE.

The IPO, which was open for subscription on 7 to 9 November, has been subscribed 4.89 times at a price band of Rs. 275-290 per share.

The public issue included sale of 191,246,050 shares, amounting to 9.55 percent stake, by HDFC and up to 1,08,581,768 shares, by Standard Life Mauritius.

HDFC Standard Life Insurance Co is one of the top-three life insurers in India by market share in new business premium, as well as the most profitable life insurers based on value of new business margins and among the top five private life insurers in India.

Just Dial Surge 20% on Report of Takeover Talks With Google

The stock of Just Dial registered a surge of 20% during the early hours of trade on Friday. Shares jumped to Rs.549.85, 19.79% higher than the last session's closing of Rs.459 on BSE. Increased investor interest in the stock comes on the back of news report that Google is in talks with Just Dial for an acquisition deal.

The scrip pared some of the gains at 11.30 am, the scrip traded at Rs. 532.20, 15.95% higher than the previous session's closing on BSE. The stock is, still far lower than its 52-week of Rs. 619 that it attained on March 17 this year.

The company had posted net profit after tax of Rs. 37.46 cr in the Q2FY18.  In the first quarter, the company posted Rs. 38.16 cr profit after tax. Revenue for the last two quarters figured at Rs.194 cr and Rs.190 cr by Sept and April quarter, respectively. 

Bharat Forge hits 52 week high

Bharat Forge reported stellar results for the quarter ended Sept 30, 2017 on Wednesday. Total sales for Q2FY18, arrived at Rs. 1,258 cr, representing a 0.02% sequential increase and 34.42% Year on Year increase. Operating profit for the recently concluded quarter figured to Rs. 291.3 cr and the Earnings before Interest & Taxes margin stood at 23.2%. The company reported Profit after tax of Rs. 203.7 cr, which represents a sequential QoQ increase of 16.4% and a YoY increase of 60.6%. The stock today opened at Rs. 720 and hit a 52-week high of Rs. 733.65 on the BSE. Bharat Forge has also declared an interim dividend of Rs. 2 per equity share of face value of Rs.2.00

Bharat Forge Limited is a Pune-based Indian multinational company involved in automotive, oil and gas, power, locomotive, construction, mining, marine and aerospace industries. 

Indo Rama Synthetics Ltd announces Q2 results

Indo Rama Synthetics (India) Limited, the largest Manufacturer of polyester fibre, yarn & polyester chips in India, today announced its unaudited results for the quarter ended Sept 30, 2017. For the quarter ended Sept 30, 2017, the Company achieved net revenue of Rs.618.01 cr versus Rs.593.44 cr in the previous quarter, an increase of Rs.24.57 cr, over previous quarter. The operational EBIDTA for the quarter was Rs.17.21 cr as compared to Rs.5.75 cr in the corresponding quarter of last year. The Company has reported a net loss of Rs.17.67 cr during the quarter ended Sept 30, 2017 as compared to net loss of Rs.14.69 cr in corresponding quarter, last year.

HDFC Life Insurance IPO Opens For Subscription till Nov 9

HDFC Standard Life Insurance Company (HDFC Life) aims to go public with its IPO, which opened today and will close on 9 November 2017.  HDFC Life issue was subscribed 5% at 11:45 am, as per NSE data.

HDFC Life has expected to garner Rs 8,695.01 crore at the upper end of the price band through its share sale in a 3-day bidding process starting today. The company has set a price band of Rs 275 - 290 for its IPO, in which HDFC will offload 9.52% and Standard Life will do 5.4% each. 

The total number of shares on sale are 29.98 crore with each having a face value of Rs.10. After the IPO, HDFC Life's market cap will range between Rs. 55,247 crore and Rs. 58,260 crore at the lower and upper share price, respectively.  

NSE to auction investment limits for Rs 9,000-cr corporate bonds on Nov 7

Leading bourse National Stock Exchange (NSE) will auction investment limits for overseas investors for the purchase of corporate bonds worth over Rs 9000 crore on Tuesday, Nov 7, 2017.

The auction quota gives overseas investors the right to invest in debt up to the specific limit.  Till Friday, total investment in the corporate debt segment crossed Rs 2,08,804 cr, 95.86% of the total permitted threshold of Rs 2,17,822 crore. As a result, the NSE will conduct an auction for the allocation of unutilized debt limits to the tune of Rs 9,018 cr on Nov 7. 

In an auction conducted in October, investment limits for corporate bonds had attracted bids worth 11,875 cr from FPIs as against 10,502 cr put on offer.

Khadim India Public Offer sees 7% subscription on first day

Khadim India Limited is Kolkata based largest footwear company in India. It has a strong presence in eastern India and has placed itself as an affordable brand. The company has 853 branded exclusive retail units in 23 states and one Union territory.

Khadim’s Initial Public Offering (IPO) has been subscribed 7% on the first day of share sale on Thursday. The Offer will close on Nov 6.

After lunch hours of trading time, the IPO received bids for 3,42,780 shares against the total issue size of 50,73,006 shares, as per NSE data. With a price band of Rs. 745 to 750 per share, Khadim India is aiming to garner Rs. 543 crore through the share sale. 

Bank stocks rise, Nifty-50 index hit fresh intraday high

The NSE Nifty50 index hit fresh intraday high, by 100.05 points up at 10,435.35 while the BSE Sensex hovered near the day's high, up by 369.98 points at 33,583.11 in mid-morning trade at 11.20 pm on Wednesday, 1^st November. Positive leads from Asian markets together with overnight gains in the U.S market increased investors' sentiment.

Bank stocks rose. The Nifty Bank index hit a record peak of 25, 490.65 points. Among bank stocks in the Nifty50, ICICI Bank were up 4.6%, and SBI traded up 3.3%, while shares of Axis Bank rose 2.8% to Rs. 537.95.

Airtel shares hit a Ten-year high after the company posted stellar numbers for the Q2 30 September. On BSE, The stock of Airtel was the major gainer on both Sensex and Nifty advancing 8.66% to hit the record high of Rs 540.75 on BSE. 

Rupee Watch: The Indian rupee hit nearly 6-week high against the dollar. It opened at 64.67 a dollar and touched a high of 64.64 and was trading at 64.65 versus the USD, up 0.15% from its last day’s close of 64.75.

Oil prices rise on Middle East Worries

Oil prices rose on Friday, as tumult in the Middle East underpinned the market. The WTI for November delivery on Friday reportedly increased USD 0.85 to settle at USD 51.45 a barrel on the New York Exchange, while Brent crude for December delivery rose USD 0.92 to close at USD 57.17 per barrel on the London ICE Futures Exchange.

US President Donald Trump said on Friday that he had decided to decertify Iran’s compliance with the landmark deal reached in 2015.

Analysts are of view that disorder in the Middle East and possible US action on the Iran nuclear deal heightened the oil prices, since traders are under geopolitical worries. On the data front, the number of rigs operating in U.S oil fields fell by 5 to a total of 743 rigs this week.

General Insurance Corp IPO fully subscribed on strong QIB demand

The Rs 11,370 crore mega initial public offer of General Insurance Corpn of India (GIC Re) got fully subscribed on Day third day of the bidding process on Friday under strong demand from qualified institutional buyers (QIB).

The issue received bids for 12,61,97,408 shares, which were 1.01 times the issue size of 12,47,00,000 shares on offer after lunch hours. The quota for QIB was subscribed 1.79 times, retail 32%, while non-institutional investor witnessed 5% subscription.

The company’s gross premium has grown at CAGR of 24.84% in FY15-17. On consolidated basis, the company’s gross premium has grown at a CAGR of 48.65% FY1517.

General Insurance Corpn of India’s IPO is India’s third biggest after Coal India Ltd’s Rs 15,200 crore and Reliance Power Ltd’s Rs 11,700 crore issues in 2008.

Indian Energy Exchange IPO to open on 9 October

Indian Energy Exchange Ltd’s (IEX) IPO is all set to open for subscription from 9-11 October. The IEX has set a price range of Rs 1,645-1,650 per equity share of face value Rs. 10. It is expected to garner Rs. 1000.73 crore from the offer at the upper end of the price band by selling 60.65 lakh equity shares. The floor price of the shares is 164.5 times the face value and the cap-price is 165 times of the face value. 

The IPO will see a sale of 60,65,009 equity shares by existing shareholders which included Tata Power Company,  private equity arm of AB Group, Madison India Capital and Multiples Alternate Asset Management. IEX is India’s first power exchange providing automated trading platform for electricity and renewable energy certificates.

Kalyan Jewellers lines up Rs. 135.00 crore investment in Uttar Pradesh

Kerala-based Kalyan Jewellers has lined up investment of about Rs 135 crore to expand its track in the market in Uttar Pradesh. The Indian jewellery store chain, Kalyan Jewellers, which already run a company owned retail store in Noida, on today, 4th October 2017, announced to launch its 116th outlet in Lucknow.

As stated by the Executive Director of Kalyan Jewellers, Mr. Ramesh Kalyanaraman, the company have invested close to Rs 75.00  crore in the Lucknow market and by the end of this financial year, its third UP store would materialize in Kanpur. “Uttar Pradesh was a big market and contributed almost 10% to the country’s jewellery segment, which is still dominated by the local unorganized players. Before entering this market, proper diligence and market research had conducted to explore flourishing prospects in the business. We found that our brand provided the perfect proposition to the state customers taking into account of the product, design and value”, Kalyanaraman added.

The company has also under planning to launch new stores in other cities of the North, including Bhopal and Indore. The company claims a dedicated customer base of almost 1.5 million with 70% repeat buyers.

Kalyanaraman informed over the past few weeks, the domestic jewellery segment had registered an unpick in demand and the players were optimistic that the momentum would further pick up in the months ahead.

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