Pranit Jain
Prashant Shukla
Preeti Gupta
Section -H
LEAD HEADLINES
Ø CIL collects R 2.35 trillion, Sebi orders exit option
Ø Nimbus filing shows losses, loan default
Ø TCS beats estimates, net up 32%
Ø New aviation sector regulator in 2 years
Ø Toyota’s small car launch set to boost competition in car market
Ø India rejects Vedanta’s proposal on expansion
Ø China signals shift in economic focus
Ø Indian universities draw Chinese
Ø UK asks CDC to invest in poorest regions; India could be affected
Friday, October 22, 2010
22nd October - BUSINESS LINE
PRASHANT
POOJA SAINI
SECTION F
Markets:
Realty, FMCG pull Sensex down 74 pointsSKS Microfinance scrip tanks 5% on BSETCS hits all-time high on robust Q2 earningsForex RatesCall rates at 6.5-6.6%Rupee drops against dollar
Corporate:
Kavveri Telecom ties up with Canadian co ValcomForeign fund inflows up despite Vodafone tax issue: CBDTProspectus errors: CIL investors get exit optionCorporate Filings
Book Closures/Dividends:
Himadri Chemicals fixes record date for stock splitBorosil Glass Works to pay Rs 25 interim dividendIpca Labs declares 50% interim dividendHindustan Composites board okays buy-back proposal
Corporate Results:
Biocon net rises 40% in second quarter
Macro Economy:
Rupee appreciation not abnormal: PranabIndia for consensus to resolve currency issue at G-20
Agri-Business:
National Seed Bill to be tabled in Parliament in next sessionSugarcane farmers’ interest to be protected: Pawar
Commodities:
Nickel futures up on global trend, spot demandGuarseed futures gain on renewed buyingGur futures declineRefined soya oil futures dropBarley futures regains on short coveringZinc futures up 1.90% on global cuesLead futures upGold futures recover on global cues, spot demandCommodity prices unchanged
Global News / Markets:
Mixed trend in Asian markets
General:
Sibal stresses on using resources in sustainable manner
Info-Tech:
MphasiS to open delivery centre in AustraliaNIIT Q2 net rises 9%; revenue dips 4%TCS pips Infosys; m-cap crosses Rs 2-lakh-cr markWipro Q2 net profit up 9.7% at Rs 1,285 cr
Banking & Finance:
Vijaya Bank net jumps 33% in Q2Bank of India net profit surges 91%Indian Bank Q2 net up 11.7%
Variety:
Aspirin ‘may cut colon cancer risk’
Govt/States:
Goa aims at Rs 500-cr royalty from iron ore exportsNavi Mumbai airport: Eco-related issues to be sorted outGujarat to rope in other States for investors’ meet
POOJA SAINI
SECTION F
Markets:
Realty, FMCG pull Sensex down 74 pointsSKS Microfinance scrip tanks 5% on BSETCS hits all-time high on robust Q2 earningsForex RatesCall rates at 6.5-6.6%Rupee drops against dollar
Corporate:
Kavveri Telecom ties up with Canadian co ValcomForeign fund inflows up despite Vodafone tax issue: CBDTProspectus errors: CIL investors get exit optionCorporate Filings
Book Closures/Dividends:
Himadri Chemicals fixes record date for stock splitBorosil Glass Works to pay Rs 25 interim dividendIpca Labs declares 50% interim dividendHindustan Composites board okays buy-back proposal
Corporate Results:
Biocon net rises 40% in second quarter
Macro Economy:
Rupee appreciation not abnormal: PranabIndia for consensus to resolve currency issue at G-20
Agri-Business:
National Seed Bill to be tabled in Parliament in next sessionSugarcane farmers’ interest to be protected: Pawar
Commodities:
Nickel futures up on global trend, spot demandGuarseed futures gain on renewed buyingGur futures declineRefined soya oil futures dropBarley futures regains on short coveringZinc futures up 1.90% on global cuesLead futures upGold futures recover on global cues, spot demandCommodity prices unchanged
Global News / Markets:
Mixed trend in Asian markets
General:
Sibal stresses on using resources in sustainable manner
Info-Tech:
MphasiS to open delivery centre in AustraliaNIIT Q2 net rises 9%; revenue dips 4%TCS pips Infosys; m-cap crosses Rs 2-lakh-cr markWipro Q2 net profit up 9.7% at Rs 1,285 cr
Banking & Finance:
Vijaya Bank net jumps 33% in Q2Bank of India net profit surges 91%Indian Bank Q2 net up 11.7%
Variety:
Aspirin ‘may cut colon cancer risk’
Govt/States:
Goa aims at Rs 500-cr royalty from iron ore exportsNavi Mumbai airport: Eco-related issues to be sorted outGujarat to rope in other States for investors’ meet
22nd October - FINANCIAL EXPRESS
Pallavi Vaish
Piyush Kant Mishra
Pradeep Kumar Saini
Section - I
HEADLINE NUMBER 1:-( RBI to pump in Rs12k cr through G-sec buyback)
According to my point of view , I wnt to summarise it , with the coal India share issue set to absorb more then Rs 15000 cr. From the market and the SBI bond issue another Rs 5000 cr. , the government on thirsday decided to pump in Rs. 12000 cr. Of into the system in phases. This is the second time in this year ,the government through the RBI has pushed in additional liquidity in the system. It had pushed Rs. 10,000 cr. In june . An RBI release stated it would repurchase government stock for Rs. 12000 cr. Through multi-security action using the multiple price method on oct. 25. liquidity is in short supply in the markets. It has one example given in the article , on Thursday , banks borrowed a sum of Rs. 72.945 cr from RBI's repo window. The government of India will auction bonds worth Rs. 11000 cr on friday. R k bakshi ,ED , Bank Of Baroda said that there was some liquidity crunch i9nto the system. However it will not have it's impact on the interest rate.
BNP Pribas plans to double India incom
BNP Pribas with exposure in various segments of India financial sectors plans to double it's revenues from country to 2% in the next five to 10 years. Indain operation currently contribute 1% to the total revenue for the bank s total global income. The bank also plan to set up a non-banking financial company in India.
TCS Q2 NET PROFIT RISES 32% AND BEATS INFOSYS AGAIN
WITH GROWH OF 11%
There is a double-dip recession in the US and it impacted the IT sector .
Tata consultancy services reported a net profit of Rs. 2169 cr in the second quarter ended september 2010 up by 32%.
It has a growth rate of 30.3%.
Revenues stood at Rs 9286 cr up 25% as compared to the corresponding quarter last year.
The board declares interim dividend of Rs 2.
TCS results came few days after Infosys Technologies year of year results came out with 13.2%
rise in it's due to profit which is Rs 1.737 cr for the quarter.
So, with increase in the profit firm had addition of 10,717 employees with gross adittion of 19,293.
SENSEX RISES 388 PTS. REGAIN 20K LEVEL
The BSE sensex was the best performer in asia in on thursday rallying nearly 2% for , foreign demand for a $3.5 bl. IPO by coal India reaffermed strong risk appetite . Advancing , shares out numbered declining ones in the ratio of 1.9:1 in the broder market on the moderate volume of 416 million.
SIP irons out market rate fluctuation from your investment
NASIPOR Systematic investment plan is way to invest in mutual funds at regularinterwals. In SIP method of investment , the invester has to invest a fixed amount in a particular mutual fund regularly, say monthely or quarterly. The minimum period of investment is one year and mutual funds are sold in units . Investor can purchase the units at market rate for a fixed amount .
However if the investor uses SIP to purchase the mutual fund, the number of units purchased on jan. 7 will be 20 . when the prices are rising, the total number of units purchased under SIP would be lesser
.If the market rates are falling , the investor will get a greater number of units for the same investment, If the market is relatively stable, the number of units purchase through daily SIP and monthly SIP will not very much.
Foreign Banks Pip PSBs in Ad Spends
Public sector banks were increased their total income this year.
Their is fall in the total income of foreign banks while expanding 1% more than PSBs.
The spending was negative for all the three sectors.
Foreign banks registered a total income of Rs 34,684crore this year against Rs 43,043crore in previous year with the decline of 19.4%.
The advertisement expanse for these banks were Rs 541crore this year against Rs 619 crore in tje previous year.
PSB earned total income of Rs 3.58lakh crore this year against Rs 3.17 lakh crore in the previous year.
The expense in advertisement were Rs 686 crore thi year against Rs 774 crore in the previous year.
In the private sector fall in expanses for ad also decrease in private sector i.e in ICICI,HDFC etc with few increase in income.
The ratio of advertisement expenditure to total income of foreign banks decreased to 1.56%,for PSBs 0.19% and for private 0.33% this year.
Piyush Kant Mishra
Pradeep Kumar Saini
Section - I
HEADLINE NUMBER 1:-( RBI to pump in Rs12k cr through G-sec buyback)
According to my point of view , I wnt to summarise it , with the coal India share issue set to absorb more then Rs 15000 cr. From the market and the SBI bond issue another Rs 5000 cr. , the government on thirsday decided to pump in Rs. 12000 cr. Of into the system in phases. This is the second time in this year ,the government through the RBI has pushed in additional liquidity in the system. It had pushed Rs. 10,000 cr. In june . An RBI release stated it would repurchase government stock for Rs. 12000 cr. Through multi-security action using the multiple price method on oct. 25. liquidity is in short supply in the markets. It has one example given in the article , on Thursday , banks borrowed a sum of Rs. 72.945 cr from RBI's repo window. The government of India will auction bonds worth Rs. 11000 cr on friday. R k bakshi ,ED , Bank Of Baroda said that there was some liquidity crunch i9nto the system. However it will not have it's impact on the interest rate.
BNP Pribas plans to double India incom
BNP Pribas with exposure in various segments of India financial sectors plans to double it's revenues from country to 2% in the next five to 10 years. Indain operation currently contribute 1% to the total revenue for the bank s total global income. The bank also plan to set up a non-banking financial company in India.
TCS Q2 NET PROFIT RISES 32% AND BEATS INFOSYS AGAIN
WITH GROWH OF 11%
There is a double-dip recession in the US and it impacted the IT sector .
Tata consultancy services reported a net profit of Rs. 2169 cr in the second quarter ended september 2010 up by 32%.
It has a growth rate of 30.3%.
Revenues stood at Rs 9286 cr up 25% as compared to the corresponding quarter last year.
The board declares interim dividend of Rs 2.
TCS results came few days after Infosys Technologies year of year results came out with 13.2%
rise in it's due to profit which is Rs 1.737 cr for the quarter.
So, with increase in the profit firm had addition of 10,717 employees with gross adittion of 19,293.
SENSEX RISES 388 PTS. REGAIN 20K LEVEL
The BSE sensex was the best performer in asia in on thursday rallying nearly 2% for , foreign demand for a $3.5 bl. IPO by coal India reaffermed strong risk appetite . Advancing , shares out numbered declining ones in the ratio of 1.9:1 in the broder market on the moderate volume of 416 million.
SIP irons out market rate fluctuation from your investment
NASIPOR Systematic investment plan is way to invest in mutual funds at regularinterwals. In SIP method of investment , the invester has to invest a fixed amount in a particular mutual fund regularly, say monthely or quarterly. The minimum period of investment is one year and mutual funds are sold in units . Investor can purchase the units at market rate for a fixed amount .
However if the investor uses SIP to purchase the mutual fund, the number of units purchased on jan. 7 will be 20 . when the prices are rising, the total number of units purchased under SIP would be lesser
.If the market rates are falling , the investor will get a greater number of units for the same investment, If the market is relatively stable, the number of units purchase through daily SIP and monthly SIP will not very much.
Foreign Banks Pip PSBs in Ad Spends
Public sector banks were increased their total income this year.
Their is fall in the total income of foreign banks while expanding 1% more than PSBs.
The spending was negative for all the three sectors.
Foreign banks registered a total income of Rs 34,684crore this year against Rs 43,043crore in previous year with the decline of 19.4%.
The advertisement expanse for these banks were Rs 541crore this year against Rs 619 crore in tje previous year.
PSB earned total income of Rs 3.58lakh crore this year against Rs 3.17 lakh crore in the previous year.
The expense in advertisement were Rs 686 crore thi year against Rs 774 crore in the previous year.
In the private sector fall in expanses for ad also decrease in private sector i.e in ICICI,HDFC etc with few increase in income.
The ratio of advertisement expenditure to total income of foreign banks decreased to 1.56%,for PSBs 0.19% and for private 0.33% this year.
22nd October - BUSINESS STANDARD
Poonam Nautiyal
Pramveer Singh
Priya Pathak
Section - G
COMPANIES.
IRDA SUSPENDS UNIVERSAL POLICES
The insurance Regulatory and Development Authority has suspended sale of universal life Polices. In the draft issued variable insurance product known as Life Insurance Product. Under this policy expenses capped at 25% in first yr and 5% in 2nd year .Agent commission may fall below 5%.
single premium products banned. No top up premium, riders allowed.
RETAIL INVESTORS JOIN THE COAL INDIA PARTY
The last day of issue saw the scramble among the retail investors to participate in the IPO.
Retail portion subscribed 2.32 times till 10am on Thursday .
Issue got subscribed 19.28 times collecting record over 240000 cr.
LIC put in highest bid of 13500cr,CityGroup 9500 cr and SBI subscribed 7500cr.
ADAG also bids per share worth 2000cr.
TATA DOCOMO TO LAUNCH THROUGH DEDICATED STORES
The GSM arm of Tata teleservices ,will setup 4000 exclusive stores for distribution and marketing of
3G product and service to be launch this diwali.
In India about 10% mobile subscribers have 3G enabled handsets. It is expected that half will adopt 3G
technology immediately and 70 to 80% next year.
TCS TOPS EXPECTATIONS WITH 32% RISE IN NET
TCS today beat market expectation with 32.1% rise in september quarter consolidated net profit at Rs 2169cr, driven by growth across regions and sectors.
Revenue rose 24.9% to Rs 9286cr compare to the year ago quarter .The country's largest IT company also crossed the $2 billion mark in revenue.
RECKITT JOINS PARAS RACE FOR A BIGGER PLAY
Reckitt Benckiser has joined the troop of global consumer and farmer companies to bid for Ahmedabad base Paras Pharma the maker of over the counter( OTC) brand like Moov , Dermicool , Livon , Krack and the Set Wet range of grooming product.
Reckitt has the combination of OTC and FMCG product which gel perfectly with Paras.
It's the OTC portfolio that Reckitt is keen to expand in India.
INFOSYS TO INVEST RS 44O CR IN CHINA CAMPUS
Infosys technogies the countries second largest IT service exporter, will invest $100 million on establishing a 20000 seater campus in Shangai.
Infosys currently have about 2850 employees in China and plan to immediately take it to around 4000 said Gopalakrishnan.
ECONOMY
FM MAY TAKE STAND AGAINST PROTECTIONISM AT G-20 MEET
India is not in favour of protectionism. It will take up the issue of protectionist economy activity recently seen in the US and economic stimulus at the G-20 meeting,a finance ministry official said.
G-20 freamwork for strong ,sustainable and balanced groeth,IMF and financial regulatory reforms are some of the areas that will be discussed during the meet.
FINANCE
INDIA TO OPPOSE CAP ON CURRENT ACCOUNT BALANCES
India woud oppose any plans by the group of G-20 to impose caps on individual countries current account balances. India is expected to grow 8.5% in current financial year. Its current account deficit nearly 3% of GDP in june and the worst in three decades is a sign of rampant demand in that vibrant economy.
Country however believes G20 is the right forum for discussion on currency and the imapct of quantitative easing policies in the developed economies.
ALLAHABAD BANK NET RISES 21%
It reported net profit of 402.57 cr. Cost of deposit stood at 5.74% . Net interest income rose by 60.6%.
NPA's from agriculture lending stood at 250 cr. NPA's increased to 0.56 %
GOLD TO HIT $ 1850 BY DECEMBER 2011
Gold prices were likely to hit $1850 an ounce by the end of next year demand from emerging economy and supply side constraints.Any aim to pick up gold in good volume would raise prices steadily to $1450 by mid-next year.Gold has surged over 34 % since oct2009.
OTHERS
Rate of wholesale food inflation declines to 15.53%
Hinduja foundries profit down 55%
Bajaj corp net profit falls to Rs 15.11 cr.
Sibal wants new IIT campuses by 2014
Govt to buy back 12000cr bonds on oct25 to ease liquidity pressure
Nokia to cut 1800 jobs after strong Q3
Mcdonalds profit rises to 10%
Dell plans marketing makeover
Goldman sachs may repay buffett's $5billion stake . It received two years ago from Berkshire hathaway Inc.
Pramveer Singh
Priya Pathak
Section - G
COMPANIES.
IRDA SUSPENDS UNIVERSAL POLICES
The insurance Regulatory and Development Authority has suspended sale of universal life Polices. In the draft issued variable insurance product known as Life Insurance Product. Under this policy expenses capped at 25% in first yr and 5% in 2nd year .Agent commission may fall below 5%.
single premium products banned. No top up premium, riders allowed.
RETAIL INVESTORS JOIN THE COAL INDIA PARTY
The last day of issue saw the scramble among the retail investors to participate in the IPO.
Retail portion subscribed 2.32 times till 10am on Thursday .
Issue got subscribed 19.28 times collecting record over 240000 cr.
LIC put in highest bid of 13500cr,CityGroup 9500 cr and SBI subscribed 7500cr.
ADAG also bids per share worth 2000cr.
TATA DOCOMO TO LAUNCH THROUGH DEDICATED STORES
The GSM arm of Tata teleservices ,will setup 4000 exclusive stores for distribution and marketing of
3G product and service to be launch this diwali.
In India about 10% mobile subscribers have 3G enabled handsets. It is expected that half will adopt 3G
technology immediately and 70 to 80% next year.
TCS TOPS EXPECTATIONS WITH 32% RISE IN NET
TCS today beat market expectation with 32.1% rise in september quarter consolidated net profit at Rs 2169cr, driven by growth across regions and sectors.
Revenue rose 24.9% to Rs 9286cr compare to the year ago quarter .The country's largest IT company also crossed the $2 billion mark in revenue.
RECKITT JOINS PARAS RACE FOR A BIGGER PLAY
Reckitt Benckiser has joined the troop of global consumer and farmer companies to bid for Ahmedabad base Paras Pharma the maker of over the counter( OTC) brand like Moov , Dermicool , Livon , Krack and the Set Wet range of grooming product.
Reckitt has the combination of OTC and FMCG product which gel perfectly with Paras.
It's the OTC portfolio that Reckitt is keen to expand in India.
INFOSYS TO INVEST RS 44O CR IN CHINA CAMPUS
Infosys technogies the countries second largest IT service exporter, will invest $100 million on establishing a 20000 seater campus in Shangai.
Infosys currently have about 2850 employees in China and plan to immediately take it to around 4000 said Gopalakrishnan.
ECONOMY
FM MAY TAKE STAND AGAINST PROTECTIONISM AT G-20 MEET
India is not in favour of protectionism. It will take up the issue of protectionist economy activity recently seen in the US and economic stimulus at the G-20 meeting,a finance ministry official said.
G-20 freamwork for strong ,sustainable and balanced groeth,IMF and financial regulatory reforms are some of the areas that will be discussed during the meet.
FINANCE
INDIA TO OPPOSE CAP ON CURRENT ACCOUNT BALANCES
India woud oppose any plans by the group of G-20 to impose caps on individual countries current account balances. India is expected to grow 8.5% in current financial year. Its current account deficit nearly 3% of GDP in june and the worst in three decades is a sign of rampant demand in that vibrant economy.
Country however believes G20 is the right forum for discussion on currency and the imapct of quantitative easing policies in the developed economies.
ALLAHABAD BANK NET RISES 21%
It reported net profit of 402.57 cr. Cost of deposit stood at 5.74% . Net interest income rose by 60.6%.
NPA's from agriculture lending stood at 250 cr. NPA's increased to 0.56 %
GOLD TO HIT $ 1850 BY DECEMBER 2011
Gold prices were likely to hit $1850 an ounce by the end of next year demand from emerging economy and supply side constraints.Any aim to pick up gold in good volume would raise prices steadily to $1450 by mid-next year.Gold has surged over 34 % since oct2009.
OTHERS
Rate of wholesale food inflation declines to 15.53%
Hinduja foundries profit down 55%
Bajaj corp net profit falls to Rs 15.11 cr.
Sibal wants new IIT campuses by 2014
Govt to buy back 12000cr bonds on oct25 to ease liquidity pressure
Nokia to cut 1800 jobs after strong Q3
Mcdonalds profit rises to 10%
Dell plans marketing makeover
Goldman sachs may repay buffett's $5billion stake . It received two years ago from Berkshire hathaway Inc.
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