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ONGC stock falls 3% on weaker-than-expected earnings
Shares in state-run producer Oil & Natural Gas Corp fell 2.5 percent a day after posting a bigger-than-expected fall in July-September net profit due to higher subsidies. Lower production is another concern, analysts said. HSBC noted that ONGC posted a fourth sequential quarterly decline in crude oil production. HSBC maintained its 'neutral' #HSBC #ONGC #Q2 Results #StockWatch
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MCX-SX to focus on already-listed firms for equity exchange
Gearing up to launch its equity trading platform, the country's newest stock exchange MCX-SX today said it will focus on bringing those companies to its fold that are already listed on other bourses. Besides, the bourse will also look at its own listing in due course of time, MCX Stock Exchange #equity #MCX #NewsTracker #Stock exchange
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Worries about staff strike at Manesar pull Maruti stock lower
Shares in Maruti Suzuki India fell 1.6 percent after The Economic Times reported that workers are planning a hunger strike and other peaceful protests to force the management to take back the 548 employees sacked after the deadly violence in July that hit production. The workers are being organised by former #Manesar strike #Maruti #StockWatch
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Morgan Stanley upgrades Tata Motors on improved profitability
Morgan Stanley upgraded Tata Motors to 'overweight' from 'equalweight', citing more stability in the China market, the prospect for improved profitability in India, and a "strong" pipeline for unit Jaguar Land Rover, among other factors. The upgrade comes as the investment bank raised its view on India's medium and heavy commercial #ExpertVew #JLR #Morgan Stanley #Tata Motors
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LIC Housing to raise Rs 400 crore in bond sale
LIC Housing Finance plans to raise at least Rs400 crore ($74.36 million) in a two-tranche bond sale, two sources with direct knowledge of the deal said on Thursday. The company is planning to raise minimum Rs 200 crore through three-year bonds at 9.38 percent, said a source, adding that Axis Bank #Bond sale #LIC Housing #NewsTracker
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Gold prices steady in India, importers wait and watch
Mumbai: Gold importers in India booked a few stray deals, not rushing in to buy, as prices continued to be supported by a weaker rupee and firm overseas markets ahead of festivals. The most-active gold for December delivery on the Multi Commodity Exchange (MCX) hit a high of Rs 31,149 per #Gold #MetalWatch #Rupee
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Now, a portal that lets you invest in gold at wholesale prices
Two companies active in bullion segment today announced launching of an online platform which allows investors to own small quantities of physical gold and silver at wholesale prices. The platform, Bullion India, will provide an online system to its members to buy, sell, hold and redeem these bars in a simple, #Gold #GoodNews #online #Portal #silver #Wholesale Prices
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Deutsche Securities sells over 2 lakh shares of UB’s McDowell
Foreign fund house Deutsche Securities Mauritius today reduced its exposure to UB Group company McDowell Holdings by selling over two lakh shares of the company for Rs 1.67 crore in bulk deal transactions. At the end of June quarter, Deutsche Securities Mauritius held 4.09 lakh shares, or 2.92 per cent stake #CorporateStrategy #Deutsche Securities #McDowell #United Breweries
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ICICI Bank ups stake in IL&FS by 5% to Rs 29 crore
IL&FS Engineering and Construction today said private sector lender ICICI Bank has increased its stake in the company by 5.36 percent for Rs 29 crore. Earlier, ICICI Bank had 1.49 percent stake or 11.61 lakh shares in the company. After the transaction held on October 1, the bank now has 6.85 #DealStream #ICICI Bank #IL&FS #Stake buy
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CLSA downgrades Bajaj Auto on weak demand; shares fall
CLSA downgraded Bajaj Auto to 'sell' from 'underperform', while maintaining its 'sell' rating on Hero MotoCorp and cited weak demand growth, a consumer shift to scooters over motorcycles, and rising competition. CLSA added that the share of scooters in industry sales continued to rise at the expense of motorcycles, while 125 #Bajaj Auto #CLSA #ExpertView #Stock
