Vodafone India, i-banks to kick-off IPO talks today: Sources

Telecom giant Vodafone India will be the largest IPO in half a decade, after Coal India, reports Nisha Podar of CNBC-TV18. Vodafone Group Plc may raise over USD 2 billion via IPO of its Indian arm. Vodafone India has recently mandated major investment banks (Bank of America-Merrill Lynch, Deutsche Bank, HSBC, UBS, Kotak Bank) for the process of carrying out IPO.   Sunil Sood, MD and CEO of Vodafone India, along with the aforementioned banks will soon be kick-starting the process for the IPO in Mumbai on May 19. However, Vodafone Group, the parent company, has not yet given its nod to the IPO, sources said. 

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Lupin Q4 profit soars 47% on US biz despite 65% rise in R&D cost

Lupin's fourth quarter earnings surpassed analysts' expectations on Thursday with consolidated profit soaring 47.5 percent to Rs 807 crore compared to year-ago period, driven by strong international as well as domestic business despite sharp spike in tax cost. Revenue in Q4 increased 35.9 percent to Rs 4,181.2 crore with international business rising 41.1 percent (to Rs 3,305.7 crore) and India growing 19 percent (to Rs 875.5 crore) compared to corresponding period of last fiscal, the pharma major said in its filing.

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The S&P BSE Sensex slipped over 100 points in Thursday morning trade ahead of outcome of assembly elections in the high-stakes Assembly elections in West Bengal , Kerala Tamil, Nadu, Puducherry and Assam. The fall in the index was led by losses in HDFC Bank, HDFC, ITC, L&T, and Axis Bank. 

Castrol India down as much as 4.7 pct to its lowest since March 29.Castrol Ltd selling up to 10.5 percent stake in Castrol India for as much as $287 million, according to a term sheet seen by Reuters.Share sale at an indicative range of 355-385.25 rupees per share vs its 385.25 rupees closing price on Wednesday.

टाटा कम्युनिकेशंस बेचेगी डाटा सेंटर कारोबार

टाटा कम्युनिकेशंस जल्द ही अपना डाटा सेंटर कारोबार बेचने का एलान कर सकती है। कंपनी एसटी टेलीकॉम को को अपना डाटा सेंटर कारोबार बेच सकती है। 75 फीसदी हिस्सेदारी बेचने की ये डील 68 करोड़ डॉलर में हो सकती है।

टाटा कम्युनिकेशन का बोर्ड आज इस डील को मंजूरी दे सकता है। डील से जुटाई गई रकम का इस्तेमाल कंपनी कर्ज घटाने के लिए करेगी। कंपनी पर फिलहाल 10 हजार करोड़ रुपये से ज्यादा का कर्ज है।

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JSW Steel Q4 profit up 3-fold to Rs 171cr, FY16 loss at Rs 742cr

JSW Steel's fourth quarter consolidated profit nearly trebled to Rs 171.25 crore compared to Rs 62.38 crore in year-ago period, supported by operational performance and other income. Revenue declined 15 percent to Rs 10,697.52 crore in quarter ended March 2016 compared to Rs 12,599.7 crore in same period last fiscal. Operating profit (earnings before interest, tax, depreciation and amortisation) grew by 8.4 percent to Rs 1,825 crore and margin expanded by 370 basis points to 17.1 percent compared to year-ago period. JSW Steel said it expects FY17 crude steel production at 15.75 million tonnes against 12.56 million tonnes in FY16, adding sales volume in Q4 increased 7 percent to 3.28 million tonnes YoY. In FY16, the steel company posted a loss of Rs 741.95 crore against profit of Rs 1,796.57 crore in previous year. Revenue in same period fell 20.9 percent to Rs 41,878.88 crore compared to earlier year. JSW Steel shares advanced 1.45 percent to close at Rs 1,310.35 on Bombay Stock Exchange.

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सेबी ने एलएंडटी इनफोटेक के आईपीओ पर सफाई मांगी

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मार्केट रेगुलेटर सेबी ने एलएंडटी इनफोटेक के आईपीओ पर सफाई मांगी है। सेबी ने साफ कर दिया है कि बिना सेबी को डिटेल जानकारी मुहैया कराए कंपनी आईपीओ के प्लान| सेबी ने साफ कर दिया है कि बिना सेबी को डिटेल जानकारी मुहैया कराए कंपनी आईपीओ के प्लान पर आगे नही बढ़ सकती है।

ड्राफ्ट ऑफर डाक्यूमेंट की होगी जांच कंपनी ने ड्राफ्ट ऑफर डाक्यूमेंट सेबी के पास 13 मई को जमा कराए थे। जिसे सेबी अपने वेबसाइट पर 22 मई को अपलोड कर देगी।सेबी ने कंपनी के ड्रॉफ्ट डाक्यूमेंट पर कहा कि सेबी 30 दिनों के भीतर कंपनी के आईपीओ से जुड़ी सारी जानकारियों को जांच कर लेगी। उसके बाद ही किसी निष्कर्ष पर पहुंचा जा सकेगा।

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The Nifty50 failed to build on the momentum it had begun the day with and closed below its crucial psychological level of 7,900 on Tuesday, making a 'Gravestone Doji' pattern on the daily candlestick charts. The Nifty50 opened at 7,896.85 and closed at 7,890.75 on Tuesday. It rose to an intraday high of 7,940.10, which resulted in the formation of a long upper shadow, and slipped to 7,879.70 which made a small lower shadow on the charts. 

Indian shares posted their second straight session of gains on Tuesday, after exit polls showed a likely first-time victory for Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) in the key northeastern state of Assam, raising hopes about its reform agenda.

सिंडिकेट बैंक को 2158 करोड़ रु का घाटा

वित्त वर्ष 2016 की चौथी तिमाही में सिंडिकेट बैंक को 2158 करोड़ रुपये का घाटा हुआ है। वित्त वर्ष 2015 की चौथी तिमाही में सिंडिकेट बैंक को 417 करोड़ रुपये का मुनाफा हुआ था।

वित्त वर्ष 2016 की चौथी तिमाही में सिंडिकेट बैंक की ब्याज आय 2.7 फीसदी बढ़कर 1462 करोड़ रुपये पर पहुंच गई है। वित्त वर्ष 2015 की चौथी तिमाही में सिंडिकेट बैंक की ब्याज आय 1423 करोड़ रुपये रही थी।

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Sun TV surges 11% on exit polls; DMK win may aid ad revenue

Shares of Sun TV Network   surged 11 percent intraday on Tuesday as most exit polls have predicted that the DMK-Congress alliance may win the state elections in Tamil Nadu. Chennai-based Sun TV owned by Kalanithi Maran (grandnephew of DMK President M Karunanidhi) is seen gaining high revenue growth when DMK is in power. 

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Equity benchmarks maintained early gains with the Sensex rising over 150 points, led by oil, auto, infra, technology and select FMCG stocks. The broader markets also gained, rising 0.4 percent. The 30-share BSE Sensex climbed 154.47 points to 25807.70 and the 50-share NSE Nifty advanced 46.45 points to 7907.20. The market breadth remained positive as about two shares advanced for every share declining on Bombay Stock Exchange.

Sun TV shares jumped as much as 9.5 per cent on Tuesday after exit poll results predicted a victory for opposition DMK in Tamil Nadu. Chennai-based Sun TV is owned by Kalanithi Maran, the grandnephew of DMK President M Karunanidhi.

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The S&P SBE Sensex surged over 100 points in morning trade on Tuesday led by gains in HDFC, ICICI Bank, Axis Bank, Infosys, L&T, and ITC. The Nifty50 reclaimed its crucial psychological level of 7,900 supported by gains in realty, power, oil & gas, metal, capital goods, and banking stocks . 

State-run oil retailers rally on hike in retail prices of petrol, diesel.Bharat Petroleum Corp gains 2.4 pct, Hindustan Petroleum Corp rises 2.2 pct, Indian Oil Corp climbs 1.3 pct.Late on Monday, petrol prices were raised by 83 paise/litre while diesel prices were increased by 1.26 rupees/litre - IOC says in a statement on its website.

HSBC upgrades India rating as hype gone; lists 8 stocks it likes

Brokerage house HSBC India has upgraded its rating on the Indian market to ‘neutral’ from ‘underweight’, saying valuation premium to Asia has declined and is now approaching a 10-year average premium. “The hype is almost gone,” says the HSBC note, adding, “High-frequency indicators suggests the earnings environment might improve, although earnings expectations remain too optimistic.”

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Bank of Baroda skids 8% as balance sheet clean-up continues

After posting a weak March quarter, Bank of Baroda   is butchered at Dalal Street by heavy selling. Though few analyts are bullish on the stock, investors are pertubed dragging the stock 8 percent intraday on Monday. Bank of Baroda has reported a net loss of Rs 3230 crore in January-March quarter from Rs 598.3 crore in corresponding quarter last fiscal. During the quarter, its net interest income (NII) rose 5 percent at Rs 3330.4 crore against Rs 3171.7 crore year-on-year. However, the lender had a marginal rise in its gross non-performing asset (NPA), but paid a higher provision in Q4. Its provision in Q4FY16 increased to Rs 6858 crore compared to Rs 6164.5 crore on sequential basis and Rs 1817.5 crore YoY. After December quarter, analysts were bullish on the stock even though it had incurred huge losses and asset quality worsened in Q3. A day after Q3 results were announced, the stock had gained 24 percent intraday under the new management's 'clean-up act'.

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The market has erased early gains. The Sensex is down 57.82 points or 0.2 percent at 25431.75, and the Nifty is down 13.60 points or 0.2 percent at 7801.30. About 780 shares have advanced, 529 shares declined, and 78 shares are unchanged. Dr Reddy's Labs, Tata Motors, Asian Paints, BHEL and Coal India are top gainers while SBI, Bharti Airtel, HUL, ICICI Bank and GAIL are losers in the Sensex.

Bank of Baroda led the selling in PSU lenders today, sinking over 7 per cent after posting a Q4 loss of Rs 3,230 crore on Friday. India's second largest state-run lender (by assets) had reported a net profit of Rs 598 crore a year earlier.

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The S&P BSE Sensex pared all gains after rising over 100 points in Monday morning trade led by losses in SBI, ICICI Bank, HDFC, HUL, and Bharti Airtel.The Nifty50 was trading weak, slipping below its crucial support level of 7800 weighed down by losses in banking, IT, realty, and auto stocks . 

Indian shares fell more than 1 percent on Friday after stronger-than-expected consumer inflation data raised the prospect the Reserve Bank of India would keep interest rates on hold, sending lenders such as State Bank of India sharply lower.The broader NSE Nifty closed 1.08 percent lower at 7,814.90, while the benchmark BSE Sensex ended down 1.17 percent at 25,489.57.