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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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.

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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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.

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 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.

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The market has opened on positive note Thursday as the Sensex is up 103.90 points at 25700.92, and the Nifty is up 25.05 points at 7873.90. About 487 shares have advanced, 129 shares declined, and 32 shares are unchanged. ICICI Bank, L&T, BHEL, Cipla Dr Reddy's Lab are the top gainers while HDFC Bank, HUL anf Infosys are the top losers.

Indian stock markets bucked global trend to trade higher on Thursday, buoyed by passage of Bankruptcy Bill in Parliament. The Sensex jumped over 200 points, while the Nifty inched closer to the 7,900 levels, after rising over 40 points. 

Kotak Mahindra Bank Q4 net at Rs 695.8 cr, asset quality stable

Kotak Mahindra Bank has posted a standalone net profit at Rs 695.8 crore in January-March quarter from Rs 635 crore in last quarter. During the quarter, its standalone net interest income was at Rs 1857.2 crore against Rs 1766 crore in quarter-ago period. According to CNBC-TV18 poll, the private lender was expected to report standalone net profit at Rs 689 crore in January-March quarter and NII was seen at Rs 1832 crore. Year-on-year numbers are not comparable due to merger of ING Vysya Bank. Net interest margin (NIM) stood at 4.35 percent in Q4 compared to 4.3 percent quarter-on-quarter. Its gross non-performing assets (NPA) was at 2.36 percent versus 2.3 percent on a sequential basis. In Q4, NPA was at 1.06 percent versus 0.96 percent. In absolute terms, gross NPA stood at Rs 2838 crore against Rs 2690 crore was at Rs 1262 crore Versus Rs 1110 crore. Standalone provision was at Rs 200.4 crore in Q1 from Rs 235.25 crore quarter-on-quarter.

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The S&P BSE Sensex recovered most losses after plunging over 350 points in morning trade on Wednesday after the government announced amendments to its Double Tax Avoidance Convention with Mauritius.The fall in the index was led by losses in ITC, ICICI Bank, HDFC, Infosys, HDFC Bank. 

Indian shares fell on Wednesday on worries future foreign equity inflows would be hit after the country said it will start imposing capital gains taxes on investments coming from Mauritius starting next year.Mauritius is the top source of foreign funds into India, though analysts welcomed India's action to impose the tax on future investments and not existing holdings.The NSE index was down 0.8 percent at 0350 GMT after initially falling as much as 1.4 percent shortly after the open.

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The market seens to be quite with the Nifty hovering around 7850 mark. The 50-share index is down 7.40 points at 7858.65. The Sensex is down 7.45 points at 25681.41. About 946 shares have advanced, 711 shares declined, and 92 shares are unchanged. Dr Reddy's Labs, Tata Steel, HUL, Lupin and Axis Bank are top gainers while Tata Motors, Hindalco, M&M, ONGC and Bajaj Auto were losers in the Sensex.

Earnings better than expectations compared to the over pesimism which was built on the Street in the past two decades, says Nischal Maheshwari of Edelweiss Securities.The Sensex and Nifty opened on a flat note in trade on Tuesday after Monday's sharp upmove. The Sensex slipped 35 points to hit intraday low of 25,654 and Nifty fell 11 points to hit low of 7,855.Selling pressure was seen in select metal, oil & gas, auto and power stocks.

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The market has kickstarted the week on a strong note supported by index heavyweights. The Sensex is up 187.26 points or 0.7 percent at 25415.76, and the Nifty up 50.75 points or 0.7 percent at 7784.20. About 554 shares have advanced, 193 shares declined, and 45 shares are unchanged. Hindalco, ITC, NTPC, HDFC and Tata Steel are top gainers while Dr Reddy's Labs fell over 1 percent. 

Indian stock markets were seen outperforming other Asian markets. Most of the Asia markets were trading with a negative bias. China's Shanghai Composite was down 2.23 per cent, Shanghai Shenzen fell 1.7 per cent and KOSPI was down 0.63 per cent.

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The benchmark equity indices resumed their downward journey on Friday, after snapping a three-day losing streak in the previous session, as weak cues from Asian markets weighed on sentiments.The S&P BSE index was down 145 points, or 0.6 per cent, at 25,116.95. NSE barometer Nifty50 fell about 40 points and was quoting below its psychological level of 7,700. 

Idea Cellular, India's third largest telecom company, falls as much as 2.3 pct.Idea may spend $1.3 bln in adding data spectrum in upcoming auction around July, the Economic Times reported, citing a note from HSBC .Rival Bharti Airtel may selectively buy 4G airwaves in coveted 700 Mhz band in a few circles.

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Union Cabinet is likely to consider a proposal to ease norms for utilisation of domestic coal so that cost of power generation can be reduced. "The Union Cabinet is likely to consider and approve a proposal to provide flexibility in utilisation of domestic coal for reducing the cost of power generation, in its meeting scheduled for today," a source said. Earlier, the government has allowed swapping of coal mines by users so that transportation cost of coal can be reduced for generation of power.

Markets tried to claw back some losses and the Sensex briefly turned flat, but selling pressure is back on Dalal Street The Sensex is now at intraday low, down 123 points, while the Nifty hit a low of 7,713.

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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.

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The market is seeing sudden spurt in buying aided by heavyweights. The Sensex is up 83.21 points or 0.3 percebt at 25686.31, and the Nifty is up 21.30 points or 0.3 percent at 7868.55. About 920 shares have advanced, 519 shares declined, and 77 shares are unchanged. Lupin, Cipla, Tata Steel, Maruti and Axis Bank are top gainers while ICICI Bank, Bharti, M&M, HUL and Reliance are losers in the Sensex.

HCL Tech extended Thursday's fall after weak earnings and was down nearly 5 per cent to be the top loser in Nifty. Idea Cellular, which reported earnings post market hours yesterday, was down 2.7 per cent. The telecom operator reported 25 per cent sequential drop in its net profit at Rs 575 crore for the March quarter. 

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The S&P BSE Sensex made a smart recovery from early morning losses to gain over 100 points on Friday, led by gains in Infosys, HDFC Bank, Sun Pharma and Lupin.The Nifty50 was trading above its support level of 7,850, supported by gains in power, consumer durable, capital goods, and banking stocks.

Idea Cellular down as much as 4.1 pct.India's 3rd largest telecom company posts a near 39 pct fall in March-quarter profit.Voice traffic growth of 9 pct y-o-y and data traffic growth of 51 pct y-o-y, both missed estimates, according to CLSA.Idea, along with Bharti Airtel and Vodafone's India unit have been heavily spending on ramping up 4G networks in anticipation of Reliance Industries 4G telecom service launch later this year.