Saturday, June 6, 2015

Market News

Reliance Power signs MoU with Govt of Bangladesh to develop 3,000 MW of Power Capacity
June 06, 2015 12:02 IST
The project is the largest foreign investment in Bangladesh with a potential investment of about US$3 bn in phases.
Kotak Mahindra Bank and ING Bank sign MoU for cross border business
June 06, 2015 11:34 IST
The MoU covers an array of co-operation areas such as trade finance, remittances and services related to Non-Resident Indians, Nostro and Vostro accounts, funding to counterparties corporate relationships, fee-based products (including but not limited to foreign exchange, letters of credit, and guarantees), direct banking and digital strategy, and cross-border debt capital markets and M&A.
Volvo Eicher Motors enters into a JV agreement to create VECV
June 06, 2015 11:21 IST
As a part of the transaction, in addition to acquiring 45.6% of the shareholding of VECV, AB Volvo had also acquired 22.75 lac shares of EML representing 8.4% of equity capital of the company.
Ashwani Kumar, CMD, Dena Bank, On reduced base rate
June 06, 2015 11:17 IST
Going forward in the current year, the bank doesnt foresee any further rate cut by RBI primarily because of an uncertain monsoon and food inflation worries.
MK Dhanuka, MD, Dhanuka Agritech On lower-than-expected monsoons
June 06, 2015 11:12 IST
The low rainfall will definitely impact the magnitude of crop sowing and consequently pesticide consumption.
Kapil Mehan, MD, Zuari Agro Chemicals On IMDs downgraded rainfall estimate
June 06, 2015 11:02 IST
Agricultural produce in actuality never falls in tandem with rain deficiency. However, theres an urgent need to incentivize it through governmental intervention.
Pension scheme for staff: Tata Steel says ballot result disappointing
June 06, 2015 10:53 IST
"We have worked hard to find a fair and balanced way of overcoming these challenges. We are disappointed therefore that no shared recommendation with the unions could be reached," according to a Tata Steel statement.
MF assets claw back to Rs. 12 trillion mark: CRISIL Research
June 06, 2015 10:32 IST
Positive sentiment for equity funds rubbed off onto balanced funds, which invest a major portion of their AUM in equity. The category attracted net inflows of Rs 12.02 billion in May, marking the 12th consecutive month of gains.
Forex reserves rises by $917.5 mn to $352.47 bn
June 05, 2015 18:51 IST
Foreign currency assets jumped by $980.4 million to $327.82 bn.
Alstom T&D India bags order worth Rs.108.8 cr from Power Gird
June 05, 2015 18:42 IST
The transformers located at Vindhyachal will help transmit power from the surplus energy in the northern region to southern region. In addition, the transformers installed at Vemagiri will strengthen the transmission system of the southern grid.
The Week That Was
June 05, 2015 18:41 IST
There appears to be no end to this carnage on Dalal Street. Just when markets made recovery in last weeks trade, selling pressure was on the rise yet again as Nifty tumbled by 3% this week. There's a lengthy menu of unappetizing factors, which has led to recent decline. The wording of monetary policy remained cautious and indicated a long pause before the next move on the interest rates. Despite a repo cut by 25bps, the policy statement mentioned that there is an element of uncertainty to the inflation outlook, wherein the probability of poor monsoon and volatility in oil prices pose as a serious risk. The central banks concerns about monsoon and likely pause for a while sent banking stocks in a tizzy.
Wockhardt recalls 2 drugs in US
June 05, 2015 18:19 IST
The USFDA reportedly said the reason for the recall is cGMP deviations and current good manufacturing practice.
Rupee ends upbeat! Snaps three consecutive sessions' depreciating streak
June 05, 2015 17:26 IST
Finally the Rupee ended at 63.75, stronger by 25 paise from its previous close of 64.00 on Thursday
June 05, 2015 17:01 IST
During the last one year, the rupee depreciated from around 59/USD in May 2014 (average) to about 64/USD (average) in May 2015.
Despite clarifications, Nestle India stock slips again
June 05, 2015 16:44 IST
The company decided to take Maggi noodles off the shelves across the country after six state governments banned the sale of popular noodles, despite the product being safe, the management said at a press conference today.
Just Dial gains after board approves share buyback proposal
June 05, 2015 16:40 IST
The company's board approved a proposal to buy back shares up to 25 percent of the aggregate of paid-up capital at a maximum price Rs. 1,550 per share.
Weekly: Sensex, Nifty crash 3.8% each
June 05, 2015 16:39 IST
For the week, BSE Sensex closed at 26,768 and NSE Nifty closed at 8,114 losing by 3.8% each.
Central Bank ends marginally down after fund raising plan
June 05, 2015 16:37 IST
Central Bank of India informed BSE that Capital Raising Committee of the board approved the proposal to raise Tier I capital upto Rs. 5,000 crore in one or more tranches during financial year 2015-16 through various modes.
Fresh lows: Bank of India, Adlabs Ent among stocks that hit 52-week low
June 05, 2015 16:28 IST
The broader market managed to finish into the green. The CNX Smallcap and the CNX Midcap indices added 0.2 percent each at 5,260 and 12,721, respectively.


No comments:


The information in this publication is provided by is intended for use for Readers & Traders . Every effort is made to provide accurate information, but cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.

free counter