Friday, 21 September 2018

SBI | ICICI Bank | Bajaj Hindusthan | Max India | JMC Projects | Yes Bank

SBI | ICICI Bank | Bajaj Hindusthan | Yes Bank | Max India and JMC Projects are stocks, which are in news today.


Yes Bank: Reserve Bank of India has intimated that Shri Rana Kapoor may continue as the MD & CEO till January 31, 2019, and the board of directors of the bank are scheduled to meet on September 25 to decide on the future course of action.
Moody's affirms Yes Bank's ratings with Baa3; outlook stable
Wipro shareholders approve amalgamation with Wipro Tech Austria
Fitch affirms Tata Motors at BB+; revises outlook to negative
Sterlite Tech clarified,  on Airtel, Jio, Sterlite Tech among bidders for Aircel Assets - that this is factually incorrect, and that the company denies having participated in any such bid
Stata Bank of India: The bank concluded the issuance of $650 Mio Green Senior Unsecured Fixed Rate Notes under $10 billion MTN programme.
ICICI Bank: Committee of Executive Directors constituted by the board of the bank is scheduled to have a meeting on September 24 to consider offshore fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments, certificate of deposits etc. for the remaining period of financial year 2018-19.
Asda selects HCL Technologies to help drive IT transformation
Australian Competition and Consumer Commission (ACCC) announced clearance of the merger of Arrow Pharmaceuticals, a subsidiary of Strides Pharma Science and Apotex Australia
Central Bank of India: The bank has received Rs 2,354 crore by way of preferential allotment to Government of India.
Allahabad Bank: Share issue and allotment committee of board of directors of the bank approved raising of equity capital by an amount aggregating upto around Rs 1,500 crore through qualified institutions placement (QIP) in one or more tranches during FY19.
Infosys launches Wingspan, a transformational learning solution for enterprises
Clariant Chemicals (India) to divest plastics and coatings business by 2020
NBCC: Company has secured the total business of Rs 921.67 crore (approximately) in August.
Gravita expands production capacity of its plant situated at Chittoor, Andhra Pradesh
Dilip Buildcon declared L-1 bidder for Metro rail project for Rs 228.96 crore by Madhya Pradesh Metro Rail Co
Jet Airways: Report suggested that Income tax department conducts survey operation at company
ITC acquired Park Hyatt Goa Resort and Spa
Max India: Life Healthcare Group Holdings, South Africa, equal JV Partner in Max Healthcare Institute, has decided to sell its entire 49.70 percent equity stake held in Max Healthcare to Kohlberg Kravis Roberts & Co. LP, which may complete the transaction through its portfolio company, Radiant Life Care Private Limited.
Future Supply Chain Solutions: The meeting of the board of directors of the company is scheduled on September 25 to consider and approve raising of funds by way of issue of debt securities or any other mode.
Bajaj Hindusthan Sugar: Competition Commission of India has passed an order against various sugar companies including Bajaj Hindusthan Sugar for alleged contravention of provisions of The Competition Act, 2002 in respect of joint tender floated by oil marketing companies (OMCs) for supply of Ethanol and imposed penalty of Rs 12.35 crore on the company.
Great Eastern Shipping: The company took delivery of a secondhand very large gas carrier “Jag Vasant” of about 83,270 cbm. The company had contracted to buy the vessel in Q2FY19.
Sayaji Hotels: Board approved the composite scheme of amalgamation and arrangement between Sayaji Hotels, Ahilya Hotels, Sayaji Housekeeping
Services, Sayaji Hotels (Pune) and Sayaji Hotels Management and their respective shareholders and creditors.
Shankara Building Products: Company opened its 134th store under the “Shankara Buildpro” brand.
Manali Petrochemical: The supply of the subject products (Neuthane Polyurethane Cast Elastomers) is scheduled to commence on September 19.
Apollo Tyres: HDFC MF shareholding in company stood at 5.05 percent as of September 17.
Aditya Birla Capital: ICRA has assigned a AAA (stable) rating for the Rs 800 crore non-convertible debenture (NCD) programme.
IL&FS Transportation Networks: Brickwork Ratings has downgraded the rating for structure NCD amounting to Rs 3,550 crore of the company mainly on account of deterioration in financial risk profile of parent company IL&FS (DSRA undertaking provider) on account of elevated debt levels, further high funding commitments to group companies and delay in asset monetisation resulting high gearing levels at IL&FS Limited.
JMC Projects: Shareholders approved sub-division of the face value of the equity shares of the company from Rs 10 each to Rs 2 each.
Blue Coast Hotels: Company has handed over the possession of movable and immovable properties (except stock of raw materials, semi-finished goods, consumable stores, current stocks and book debts hypothecated to working capital bankers) of hotel ‘Park Hyatt Goa, Resorts & Spa’ to ITC Limited. The aforesaid hotel property was auctioned by IFCI, the mortgagor, for a consideration of Rs 515.44 crore to ITC.
Oracle Financial Services Software: Sussex Mauritius and Wessex Mauritius disposed of 11.89 lakh and 25.26 shares in company by way of open market sales during September 17-19.
ADF Foods: The company closed its buyback of equity shares of the company after deploying Rs 29.99 crore.
Arman Financial Services: Board has allotted non-convertible debentures (NCDs) to AAV SARL (Luxembourg), through its Indian custodian Deutsche Bank AG.
Asian Paints - the commercial production of paints and intermediaries has successfully commenced at the Mysuru plant, Karnataka
Nagarjuna Fertilizer - Update on shutdown of plant - Company is in the process of sorting out the working capital issues with the bankers to restart the plant
CCI approves ArcelorMittal's acquisition of Essar Steel

Wednesday, 19 September 2018

Strides Pharma | Tata Steel | ICICI Bank | Sun Pharma | KIOCL | RITES | Weizmann Forex

Stocks in the news: Strides Pharma, Tata Steel, ICICI Bank, Sun Pharma, KIOCL, RITES, Weizmann Forex


SEBI Meet Outcome:
Lowers IPO listing timeline to T+3 from current T+6A
Approves new KYC norms for FPIs
To charge only Rs 1L per exchange on agri derivatives turnover
Unveils slew of reform measures; to revise KYC norms for foreign investors, slash MF charges
Mulls reaching govt for powers to intercept calls, messages of economic offenders

Fines Premium Industries Rs 7 lakh for SCORES violation
ICICI Bank: The bank in clarification note said it has not filed any application for settlement after certain media reports indicated that the bank has filed a consent petition with SEBI.

Som distilleries' subsidiary Woodpecker Distilleries & Breweries has launched Blackfort Beer in Lager variant to tap the mild beer segment in Karnataka
Lupin: Company appoints Alok Sonig as CEO - US Generics and Global Head - Generics R&D & Biosimilars.
Electrosteel Steels board meeting on September 24 to consider and approved the letter received from Vedanta Star, wherein the Acquirer has expressed its intention to acquire up to 1961,67,342 equity shares of the co
Sun Pharma: Almirall has received the European Commission (EC) approval for Ilumetri (tildrakizumab) for the treatment of adults with moderate-to-severe chronic plaque psoriasis who are candidates for systemic therapy.
IL&FS Transportation Networks: Settlement agreement was signed by Moradabad Bareilly Expressway (MBEL), a subsidiary of the company on various claims filed against NHAI in relation to the work of development, maintenance and management of a highway from Moradabad to Bareilly in the State of Uttar Pradesh. Pursuant to the settlement, MBEL will be paid a claim compensation of Rs 425 crore by NHAI for the losses suffered by it on account of the cost overrun for development of the project.
RITES: Company has been executing a project of Indian Railways for setting up of wagon workshop at Dalmianagar for which the initial contract cost was Rs 89 crore. The enhanced scope and revision in estimates has resulted in additional contract value of Rs 436 crore. The work is scheduled to be started in the last quarter of this financial year.
TI Financial Holding approved further investment in shares of Cholamandalam Investment up to sum not exceeding Rs 50 crore
KIOCL: Board of directors of the company approved the proposal to buyback of not exceeding 1,25,88,235 equity shares (representing 1.98 percent of paid up equity) at a price of Rs 170 per share, payable in cash for an aggregate consideration not exceeding Rs 214 crore. The company has fixed October 1 as record date for the same.
Tata Steel: Company completed the acquisition of 51 percent equity stake in Creative Port Development Private Limited.
Clariant Chemicals: Its ultimate global holding company Clariant said that SABIC has recently completed the purchase of 24.99 percent stake in Clariant globally as a strategic anchor shareholder. Clariant will combine its additives and high value masterbatches with parts of SABIC's Specialties business to form the business area high performance materials. It also announced about its intention to divest the remaining plastics & coatings business by 2020, subject to necessary approvals.
Linde India: Linde AG and Praxair Inc have received a final order from Competition Commission of India for the proposed business combination.
NIIT Technologies: Company introduces Chain-m, a Blockchain powered solution for airlines and its partners.
Trident: CRISIL has reaffirmed its ratings on the bank facilities of the company and subsequently withdrawn the ratings at the company's request.
Steel Strips Wheels: Naveen Sorot, Chief Financial Official (CFO) of the company, has tendered his resignation from his duties as CFO to pursue opportunities outside the company.
Gulshan Chemfill: Board approved the draft letter of offer of the company and related documents in respect of the proposed rights issue not exceeding an amount of Rs 26 lakh.
Weizmann Forex: Company announced divestment in six subsidiaries.
TCS: Tata Insights and Quants (Tata iQ), a division of Tata Industries, has selected Jile as its enterprise Agile platform.
South Indian Bank raises 1-year MCLR to 9.35% w.e.f September 20
ICICI Prudential Life Insurance: Company and Saraswat Co-operative Bank sign bancassurance partnership.
Gujarat Borosil: Board approved appointment of Milind Gurjar as Chief Executive Officer and key managerial personnel with effect from September 24; stepping down of B L Kheruka as Director and Chairman of the board and his appointment as chairman emeritus; appointment of P K Kheruka as Chairman of the board.
Som Distilleries & Breweries: Subsidiary Woodpecker Distilleries & Breweries as launched Blackfort Beer in Lager variant to tap the mild beer segment in Karnataka.
Bharat Dynamics: BDL is manufacturing and supplying Akash Missiles. DAC approval is for upgraded version of Akash Weapon System equipped with seeker technology being under upgradation by DRDO. The DAC approval would be followed by an RFP from Ministry of Defence, which would be responded by BDL promptly.
Yuken India approved allotment of 90 lakk bonus shares
Shriram Transport Finance: On June 30, 2015, the company had given corporate guarantee in connection with non-convertible debentures (NCDs) worth Rs 650 crore issued by SVL Ltd. The NCDs will mature for redemption on 28/06/2019. The disputed amount of Rs 13 crore between one of the subsidiaries of SVL Limited and the customer of that company is expected to be mutually settled. The amount involved in the dispute is not significant.
Infinite Computer Solutions: Company has received a letter from Mr. Sanjay Govil, promoter of the Company, representing that M/s Inswell IT Applications Private Limited, a promoter group company, 100 percent of which is beneficially owned and controlled by Sanjay Govil and his relatives, will also act as an acquirer / person acting in concert in the delisting offer and may acquire certain portion of equity shares that are tendered as part of the delisting process.
Strides Pharma Science: The formulations facility in Bangalore recently underwent pre-approval product inspection by the USFDA. The inspection ended on August 25 and the company has been issued a Form 483 with 3 observations. The company believes that the observations are not material in nature and we have already responded to the USFDA. Company has recently (post completion of the inspection) received a product approval for Potassium Chloride Extended release tablets from this facility.
Update on scheme of arrangement between Century Textiles and Ultratech Cement - The words Scheme of Arrangement appearing in the scheme are to be replaced with Scheme of Demerger
MEP Infrastructure Developers: ICRA has assigned the long term rating for the bank limits for its subsidiaries MEP Sanjose Kante Waked Road Private Limited and MEP Sanjose Arawali Kante Road Private Limited.
Piramal Enterprises - CARE Rating assigned CARE AA stable rating to NCDs

Tuesday, 18 September 2018

Bank of Baroda | Idea | Infosys | Avenue Supermarts | GCPL | OBC

Bank of Baroda | Idea | Infosys | Avenue Supermarts | GCPL and OBC are stocks, which are in news today.




Bank of Baroda: Merger process with Dena Bank & Vijaya Bank likely to take 4-6 months, to boost Bank's presence
OFS Technologies approved issue of bonus shares of 6 for 10 held
Axis Bank: The bank has allotted 1,97,950 equity shares of Rs. 2/- each on 17.09.2018, pursuant to exercise of options under its ESOP Scheme.
NTPC approved investment in Talcher Thermal Power Project, Stage-Ill (2x660 MW) at an appraised current estimated cost of Rs 9785.79 cr
Avenue Supermarts: The company has issued commercial paper worth Rs 70 crore.
GNFC - Gov of Gujarat directed to participate in equity of Bhavnagar Energy Co
Mcleod Russel informed about the execution of Memorandum of Understandings for disposal of estates and bearer plants and other assets of Bargang and Harchurah Tea Estates of the company
Sterlite Technologies: Aims 10 percent global fibre market share by June 2020
GCPL: Board approves bonus share allotment
ICICI Lombard General Insurance launches industry's first App for faster claim verification and settlement
Gujarat Gas accepted the authorisation in Schedule D of the PNGRB on Sep 17
Oriental Bank of Commerce: Icra downgrades long-term ratings; outlook negative
Infosys: Doubles investment in US-based TidalScale to $3 million
Bank of Khartoum Group selects iCashpro+ cash management platform from Aurionpro to empower UAE and Bahrain branches operations
Cholamandalam Investment: Raises Rs 1,057 crore from ADB by issuing bonds
RSWM - India Ratings & Research downgraded term loan rating to IND A from INA A+
Board of Vodafone-Idea approved a scheme of amalgamation of Aditya Birla Telecom with Company
RPP Infra - CRISIL assigned CRISIL BBB/Stable/CRISIL A3+ ratings to its bank loan facilities of Rs 270 crore
Adani Ports forms JV to provide logistic service to auto industry
Source - https://www.moneycontrol.com/

Monday, 17 September 2018

RIL | Infosys | Modern Steels | Gammon India | IRCON International | Wipro

RIL | Gammon Infra | Modern Steels | Gammon India and Dynamic Products are stocks, which are in news today.



Reliance Industries: Subsidiary Reliance Retail Ventures (RRVL) purchased an additional stake of 3.10 per cent equity holding in Genesis Colors (GCL) for a consideration of Rs 8.39 crore, taking its total stake in GCL to 19.63 per cent. The aggregate equity shareholding of RRVL and Reliance Brands in GCL stands at 69.10 per cent.
Infosys to acquire Fluido, the largest salesforce consulting partner in Nordics
Century Textiles & Industries: Board has appointed RK Dalmia as a Whole-time Director of the company for a period of three years; Snehal Shah has been appointed as a Chief Financial Officer of the company in place of RK Dalmia.
IRCON International IPO opens for subscription. The company offers 99.05 lakh shares at a price of Rs 470-475 per share
Shri Bajrang Power and Ispat files DRHP with SEBI, to raise Rs 500 cr via IPO
MEP Infrastructure Developers: Toll Tax Department extended period of suspension of collection of toll tax from any of the specified commercial vehicle till September 30, 2018 owing to pending of completion of installation of Radio Frequency Identification Device (RFID) work. The settlement of claims, if any, will be dealt as per the provisions of the Contract Agreement executed with the authority.
Sadhana Nitrochem's board meeting on September 24 to consider stock split
Bank of India looks to raise Rs 1,000 cr from sale of non-core assets
Gammon Infrastructure Projects: Patna Buxar Highways (PBHL), erstwhile a wholly owned non-material unlisted subsidiary of the company which was sold on March 31, 2016 with the company's rights to future claims pending under arbitration, has received an amount of Rs 14.70 crore on September 14, 2018 from the National Highways Authority of India in compliance of the order passed by the Delhi High Court.
Tantia Constructions: M L Agarwala resigned from the board of company.
NBCC clarified on SC appoints NBCC to construct stalled projects of Amrapali Group that the company has not received any such order from the SC as on date
Uday Jewellery Industries: Company has started export of its speciality jewellery and has completed its first export.
Hindalco to seek shareholders' approval for Rs 6,000 cr NCDs
Arihant Superstructure - New project undertaken under development management model at Panvel
Modern Steels: As the company's Account is NPA with Punjab National Bank, company will settle the dues to PNB by paying Rs 30 crore.
Gammon India: The Court of Monza, Italy has declared the bankruptcy of the company's step down subsidiary 'SAE Powerlines S.r.l' (which is held through ATSL Holdings BV).
Voltas JV Voltbek partners with Future Supply Chain
Alok Industries: State Bank of India has withdrawn the nomination of Atanu sen from the board of directors of the company.
Wipro Gallagher Solutions and Mercury Network to jointly offer loan appraisal management platform
Dynemic Products: Company has received an environment clearance for its unit III project located at Dahej in Bharuch.
Yes Bank's Capital Raising Committee approved issue of 30,420 Rated, Listed, Non-Convertible, Redeemable, Unsecured, BASEL III compliant Tier 2 Bonds, worth of Rs 3,042 crore
KPIT
Update on lawsuit filed by Copart Inc against Sparta Consulting, KPIT Infosystems & KPIT Tech
Post the jury verdict, both Sparta and Copart raised several issues for the Court
Sparta's net liability has been reduced from approximately $16M to approximately $8M
The ruling on other issues is still awaited, Sparta would have a further right to appeal the Court's Order
Vikas Granaries: Company has planned to manufacture proppants and mining of granite and fractured debris near Jodhpur. It has given on contract 200 bighas land for mining to remove fractured debris from the ground upto 10 meters depth for a sum of Rs 29.81 crore. These revenues would be accrued during second and third quarters of FY 2019. The remaining land of approximately 100 bighas would be given for mining of fractured debris in times ahead. The estimated value of these debris is about Rs 14.90 crore.
TCI Express: ICRA reaffirmed its credit rating in respect of the company's commercial paper programme.
Kirloskar Pneumatic fixed September 27 as its share-split record date
Corporation Bank revised Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. 15.09.2018.
RCF clarified on news that company has put a proposal to GOI for post –facto cabinet approval for transfer of the land
Also TDR certificates already received and likely to be received in future
Sterlite Technologies to double its optical fibre cable solutions capacity to meet global demand for network densification
Kwality - QIP issue opened on Sept 14
OBC - ICRA revised rating for upper Tier II bonds to ICRA A- from ICRA A+ and rating for lower tier II to ICRA A+ from ICRA AA-
Century Ply gets shareholders’ nod for re-appointment of PK Bhajanka & Vishnu Khemani as MD

Saturday, 15 September 2018

Opinion | Global financial system in a better place since the 2008 crisis, but far from perfect

A lot of leveraged finance has moved from the traditional banking sector to investment banks, private equity funds and the so-called shadow banking system that are less regulated, and borrow from classical banks.



Time flies. The fall of Lehman brothers and the start of largest financial crisis since the great depression is already 10 years behind us. When future historians will write the history of the early 21st century, two big events will come to mind: the attack on the Twin Towers on September 11, 2001 and the financial crisis of 2008-2009.
Countless books, papers and articles have been written about the origins and the consequences of the crisis. My goal is not to enlarge this mountain of words, but just reflect on two questions: How does today’s financial system compare to that of 10 years ago and, more importantly, could a similar shock, or worse, happen again?
Let’s start with the good news. Banks’ capital and liquidity positions are way better than they were 10 years ago. Off-balance sheet activities have been greatly reduced and brought under the supervision of regulators. Leverage in the banking system is also lower. Sub-prime mortgages have all but disappeared. And finally, a lot of over-the-counter options are now being cleared which increases the transparency and reduces the risks.
But all this does not mean that things are perfect. A recent study by three Federal Reserve Bank of New York economists indicates that a lot of leveraged finance has moved from the traditional banking sector to investment banks, private equity funds and the so-called shadow banking system that are less regulated, and borrow from classical banks. Consequently, risks have moved but not disappeared. Financial innovations are also happening more and more in the realm of shadow banking.
The inevitable black swans
In order to save the financial system and the world economy from a ‘new great depression’ governments of advanced economies have increased their total level of debt by about 30 percent (compared to GDP). The total worldwide debt mountain (of governments, households and companies) now stands at $233 trillion, quite a bit larger than it was in 2008. One could say that governments have ‘bought off’ the crisis by increasing debt. This is without a glimmer of doubt the proverbial elephant in the room.
But it was not only governments that went all-in. The world’s largest central banks reduced short-term interest rates to zero. When that proved to be insufficient, they embarked on an unprecedented quantitative easing spree in order to suppress long-term interest rates, quite a bit of which went into negative territory. Because yield became scarce, this provoked a tsunami of liquidity that found (and is still finding) its way to risky assets, such as equities and real estate creating bubbles all across the globe. Reducing this large amount of liquidity without wreaking havoc on financial markets and the world economy remains both the top priority and the biggest challenge for central bankers.
As Hyman Minsky writes in Financial Instability Hypothesis: Stability breeds instability. One just has to look at market history to realise that crises and crashes are quite common in our market system. The longer the period of relative calm, the closer we inevitably get to the next one. At the moment that everyone feels safe, typically the next one hits. And typically it is one of Nicolas Taleb’s blacks swans (events that nobody predicted ex-ante, but everyone finds logical and predictable ex-poste) that set the whole process in motion once again.
That we are today reminded of the crisis that took place a decade ago probably means that we have not yet reached the complacency phase. We must also not forget that we are still looking at the most hated bull market in financial history (because so much investors missed it). This will hopefully give governments and central banks some more time to gradually normalise policy.
Diversity can help, some Schumpeter as well
Talking about Taleb, his book Antifragility points out that as systems grow, crises become less common. But when they finally hit, the impact is much larger and less controllable. This is certainly the case for our globalised world that has not only increased prosperity but also inter-connectedness. The same goes for the global banking system. Banks, on average, have become larger thanks to mergers and take-overs during and immediately after the crisis. The problem of ‘too big to fail’ and moral hazard that goes with it has thus also become larger.
This beckons a philosophical question: should governments and central banks avoid recessions at all cost?
Governments are still strongly influenced by Keynesian thinking, which states that governments should spend when the economy heads south, thereby cushioning the blow. (Unfortunately they often forget the part that they should reduce debt when the economy is booming). Central banks, on the other hand, use the works of Milton Friedman as their monetary bible. If inflation is too low, monetary conditions have to be loosened, and vice-versa.
But both often forget the works of Joseph Schumpeter, the father of the concept of creative destruction. The concept states that recessions from time to time are healthy to clear the system of excesses. This process is often painful, and in our populist world very unpopular, but very healthy in the long run.
Unfortunately, the system has become so large and so integrated, the mountain of debt so large, that even a simple recession could lead to a systemic crisis. This makes clearing the excesses a Herculean task.
Perhaps, we could take comfort in the words of Christine Lagarde of the IMF that if Lehman Brothers had been Lehman Sisters, the world would have looked totally different. Diversity and more women at key financial positions could reduce group think and the risk in the system. A rational conclusion that might originate from such a system with less testosterone, less ego and more common sense could be that up until now financial crises have always proved to be great long-term buying opportunities. Rendezvous in 10 years!

Friday, 14 September 2018

Engineers India | Redington | REC | Vedanta | SBI | Jain Irrigation | Cadila

Engineers India | Redington | REC | Vedanta | SBI | Jain Irrigation and Cadila are stocks, which are in news today.




Results TodayREC, Kwality and BF Investment
Vedanta: Vedanta announced hydrocarbon Discovery in well A3-2 within its operated block KG-OSN-2009/3 within Krishna-Godavari Basin, East Coast of India. Company holds 100 percent participating interest in the block.
Redington India: Subsidiary ProConnect Supply Chain Solutions increased its shareholding in Rajprotim Supply Chain Solutions from 76 percent to 88 percent.
Allahabad Bank: Board meeting is scheduled to be held on September 19 to consider the modes/modalities of raising the equity capital of the Bank within the aforesaid overall limit of around Rs 1,900 crore.
Fortis - Shivinder Mohan Singh withdraws NCLT petition against elder brother Malvinder Singh
Engineers India: Board considered the proposal for acquisition of 100 percent paid-up share capital of Projects and Development India (PDIL) from President of India, acting through the Ministry of Chemicals & Fertilizers.
Cadila Healthcare: Zydus receives final approval from the USFDA for Risedronate Sodium Delayed-release tablets.
HCL Technologies: HCL SSHS (State Street HCL Services) Facility, a joint venture between HCL Technologies and US-based State Street Corporation opened its state of the art IT Centre at Medha Tech Park in Ganavaram, Vijayawada, Andhra Pradesh.
HCL Technologies offered to buyback 3.63 crore shares (representing 2.61 percent of its equity shares) at a price of Rs 1,100 per share for an aggregate amount up to Rs 4,000 crore. The buyback offer will open on September 18 and close on October 3.
SBI: Audit Committee of the board appointed Shri Prashant Kumar, Deputy Managing Director, as Chief Financial Officer of the bank with immediate effect.
Sun Pharma and SPARC announce USFDA approval of XELPROS to treat open-angle Glaucoma or Ocular Hypertension
Dr Reddy's Laboratories: Company launches Neostigmine Methylsulfate Injection, USP in the US market.
Lupin: Company receives USFDA approval for generic Atovaquone Oral Solution USP.
Wipro: Company and Anaplan partner to deliver best-in-class cloud enterprise performance management solutions.
PPAP Automotive: CRISIL has reaffirmed its credit rating of the company on the long term bank facilities to A+/Stable and the short term bank facilities at A1.
IL&FS Engineering Construction and Company: CARE Ratings had assigned credit rating of A1+ (SO) for the proposed issue of Commercial Papers of the company for an amount upto Rs 100 crore. Since, the company had not mobilised any fund for the aforementioned Commercial Paper issue programme, CARE has withdrawn the said rating.
Jain Irrigation Systems: US subsidiary acquired ETwater, innovator of intelligent irrigation technology and in the vanguard for creation of the smart irrigation controller. Although acquisition small, it will help fortify Company's position in the US smart agriculture market with Internet of Things (IoT) and also to scale up operations in the said geography.
5paisa Capital: Board approved the right issue size i.e. 1,27,39,022 equity shares of Rs 10 each at issue price of Rs 80 each aggregating to Rs 101.912 crore.
IIFL Holdings: Company has received the No objection letter from NSE in order to file the draft Composite Scheme of Arrangement with National Company Law Tribunal.
Tata Communications: Campany partners with the company in Myanmar for cloud enablement.
Mahanagar Gas: Promoters of the company, GAIL (India) and BG Asia Pacific Holdings Pte have executed an amendment agreement to the joint venture agreement in order to record some changes in the understanding between them as captured in the said JVA.
IL&FS Transportation Networks: Brickworks Ratings revised its rating for company's non-convertible debentures worth Rs 3,550 crore to BB-(SO) from AA-(SO).
Sunteck Realty: Company has been assigned A1+ credit rating from ICRA for commercial paper of Rs 150 crore.
RDB Realty & Infrastructure: Company has entered into a Joint Venture Agreement with HYT Engineering Company Private Limited and the name of the JV is HYT-RDBRIL (JV).
Veritas (India): Company has incorporated a subsidiary named as GV Offshore Private Limited in Mumbai.
India Infraspace: Company has acquired 1,61,500 (100 percent) equity shares of Shaurya Casting Private Limited.
Maruti Suzuki: Company increases Baleno production to cut down waiting, delight customers.
Simplex Castings: Company has incorporated an wholly owned subsidiary company Simplex Castings International Pte. Ltd. at Singapore.
Arman Financial Services: Board approved issuance of non-convertible debentures (NCDs) aggregating up to Rs 27.5 crore on a private placement basis.
Balasore Alloys: Samuel Onyeabor Nwabuokei has resigned from the directorship and position of non-executive director of the company due to personal reasons.
CL Educate: Sudhir Bhargava tendered his resignation from the post of Chief Financial Officer, citing personal reasons.
Voltas to invest Rs 1,000 crore on its home appliance foray
NBCC to buy HSCC for 285 cr
Shareholders ask IL&FS to raise funds by selling assets, non-core biz
PNB invites bids from ARCs/FIs for 21 NPA accounts to recover Rs 1,320 cr
United Bank Of India revised MCLR w.e.f September 14
Emami Paper Mills board meeting on September 21 to review the status of raising of Funds for future expansion or acquisitions via QIP/Right issue/Private placement/GDR/ADR/FCCBs
Syndicate Bank approved the proposal to raise Capital up to Rs 250 crore by way of issue of equity shares in one or more tranches to its employees underEmployee Stock Purchase Schem

Thursday, 13 September 2018

Learn these top 12 lessons from Lord Ganesha to become a good investor or trader

As a player in markets, it is never too late to adopt and learn from markets and stay updated with new investment options and grow money wisely


Celebrations of Ganesh Chaturthi started across the country on Thursday. The people celebrate this festival as Lord Ganesha brings with him bring prosperity, happiness, knowledge and wisdom.
Team Moneycontrol conveys its best wishes on this auspicious festival to every trader and investor.
When it comes to learning anything new, there is a lot one can take as inspiration from Lord Ganesha, who himself is an expert in 14 vidyas(techniques) and 64 kalas (art forms).
In the financial world itself, the first and foremost lesson that one can learn is UNITY, the main motive of this festival which was first started by freedom fighter Bal Gangadhar Tilak.
Anything to win in this world or anything to balance in life, unity between different types of people or different types of things (in terms of anything) is a must, which is similar to portfolio building.
In the stock market, if you want to make a profit, you can't depend on one stock or one type of product. You should make a portfolio of several stocks or products to get it balanced so that portfolio can outperform in every up and down.
Here are other lessons which can be learned from Lord Ganesha that can bring happiness, prosperity, wealth and strength to overcome obstacles while trading or investing in the stock market:
2) Don't follow the Herd mentality – When Lord Shiva asked his two sons Ganesha and Kartikeya to race around the world, Ganesha chose to do a pradakshina around his parents. So think like him— out of the box. Don't buy a stock basis a general view or rational.
3) Stick to one's circle of competence - When Lord Ganesha was given the challenge of circumnavigating the universe thrice, he acted within his limitations and used his strength to win. For long-term success in investing, it's very important to stick to one’s circle of competence whether it is about a set of stocks, industries or an investing style.
4) Stick to your investment commitment and discipline- Day traders should abide by the discipline that Ganesha executes, stopping Shiva from entering home as instructed by his mother, risking his life. Hence, all traders must take stop losses and also take all trades to attain the average run rate (profits), which generally is 60-70 percent. Similarly, investors once committed to the idea of investing should remain put for long-term gains and self-fulfilment.
5) EDUCATE yourself, invest in what you understand.
6) Only QUALITY can deliver return.
7) Hope is not a STRATEGY in the investment world.
8) Differentiate between TRADING and INVESTMENT strategies.
Valuable investment lessons which can be inferred from various body parts of Lord Ganesha:
9) His large head encourages ‘to think big’ when looking at long-term investment planning.
10) His small eyes warn ‘not to miss the details and concentrate while planning’.
11) His long ears urge you to ‘listen more’
12) His small mouth is a sign that you should ‘talk less’ as an investor.
13) Lastly, it is Lord Ganesha’s strong tusks, which points towards the required ‘power to weed out bad investments’.
As a player in markets, it is never too late to adopt and learn from markets and stay updated with new investment options and grow money wisely.


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