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.

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 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.

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The market is still dragging with weakness in banks, capital goods, IT and metals. The Sensex is down 232.77 points or 0.9 percent at 25557.45, and the Nifty down 67.50 points or 0.8 percent at 7832.90. About 670 shares have advanced, 994 shares declined, and 96 shares are unchanged. Adani Ports, Tata Motors and Asian Paints are top gainers while Dr Reddy's Labs, Bharti Airtel, HUL, ICICI Bank and Tata Steel are losers in the Sensex.

Selling momentum has picked up in banking and metal stocks, leading to sharp decline in Sensex and Nifty. The Sensex fell as much as 275 points, while the Nifty is trading below 7,850. Nifty Bank is down nearly 1 per cent, led by selling in ICICI Bank shares, which are trading 2 per cent lower. SBI is down over 1 per cent. Index-heavyweight Infosys is also trading 1 per cent lower.

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The S&P BSE Sensex plunged over 250 points in morning trade on Friday after retail inflation spiked in April while industrial growth stagnated, which dented any chance of a rate cut by the Reserve Bank of India in the June review.The fall in the index was led by losses in ITC, ICICI Bank, Infosys, HDFC Bank, HUL, and Bharti Airtel. 

Indian shares closed higher on Thursday, led by lenders such as ICICI Bank, after the country's upper house of parliament passed a new bankruptcy code to address corporate debts and improve the ease of doing business.

NASSCOM, Facebook ink MoU to engage with India's entrepreneurs

The trade body of Indian IT firms NASSCOM has signed an MoU with Facebook to build a product design initiative to engage the country's young entrepreneurs into becoming problem solvers and solution builders. Signed in Silicon Valley this week, the NASSCOM-Facebook initiative is likely to propel innovative thinking and approaches to build solutions in key sectors where technology can play a transformational role, NASSCOM President R Chandrashekhar said.

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BSE to provide participant code for derivatives from May 9

Leading stock exchange BSE will introduce a facility to enable trading members to provide participant code (CP code) while entering orders for clients in equity as well as currency derivative segments from May 9. "...exchange shall be making this functionality live from Monday, May 9, 2016 in equity derivatives and currency derivatives segments," BSE said in a circular. It will conduct a mock trading on May 7 in this regard. BSE will enable facility for trading members to provide the CP code at the time of entering orders for clients whose trades are settled by their clearing member and not by the trading member.

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The market has opened with some gains on Thursday. The Sensex is up 83.47 points or 0.3 percent at 25185.20, and the Nifty up 22.90 points or 0.3 percent at 7729.45. About 304 shares have advanced, 138 shares declined, and 20 shares are unchanged. Sun Pharma, Adani Ports, Hero MotoCorp, Tata Motors and Lupin are gainers while ITC, Tata Steel and Dr Reddy's Labs are losers in the Sensex.

Healthcare stocks led gains, with drugmaker Sun Pharma rising nearly 3 per cent to top the Nifty50 benchmark. Lupin, Cipla and Dr Reddy's shares also saw buying interest.Tata Motors rebounded today, while mortgage major HDFC extended its winning streak to a fifth straight day.Adani Ports continued to face selling pressure and was the top Nifty loser. Adani Ports, which tanked 12 per cent yesterday, traded 3 per cent lower.Cement stocks such as Ultratech and ACC also came under selling pressure.

Telecom sector sees over $4 bn FDI in nearly two years

Telecom sector attracted over USD four billion worth foreign direct investments in nearly two years since April 2014, Telecom Minister Ravi Shankar Prasad said today. Emphasising that the government has taken many pro-active steps to promote growth in the sector, he said in Lok Sabha that "the quality of service issues has never been looked into so seriously and monitored, as is being done now".

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Indian Stock Market Trending Changes

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The S&P BSE Sensex opened with losses on Wednesday, slipping over 100 points as negative cues from other Asian markets and Wall Street overnight weighed on investors' sentiments.The losses on the index were led by ICICI Bank, Tata Motors, Adani Ports, TCS and L&T.

India's United Spirits gains as much as 8.32 pct.Diageo Plc may raise stake in the liquor maker to 72 pct from 54.78 pct, reports CNBC TV 18, citing unidentified sources.Adds Diageo exploring various options, including open market transactions.BSE stock exchange says seeks clarification from United Spirits on the TV report.