Investing News - Page 7

IL&FS' AP road arm raises Rs 530 cr from JP Morgan, HDFC

Andhra Pradesh Expressway, special purpose vehicle of IL&FS Transportation Networks, today said it raised Rs 530 crore from sale of bonds, which were snapped up by JP Morgan India, HDFC MF and Franklin Templeton MF.

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.

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.

Worries about staff strike at Manesar pull Maruti stock lower

Shares in Maruti closed 1.7 percent lower since the 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

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.

LIC Housing to raise Rs 400 crore in bond sale

The company is planning to raise minimum Rs 200 crore through three-year bonds at 9.38 percent. Separately, it is raising at least Rs 200 crore through two-year bonds

Gold prices steady in India, importers wait and watch

The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, weakened on Wednesday, supporting prices.

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.

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.

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.

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.

Adani Power Rs 3.55 crore share sale offer oversubscribed

The offer to sell 3.55 crore shares of Adani Power by promoter entity Adani Agro was oversubscribed today.

Citi launches securities lending service in India

Global banking major Citibank's Securities and Fund Services today said it will offer securities lending services to its clients in India.

Axis Bank, ICICI Bank among top-ten MF commission earners

Banks seem to be taking away all the cream when it comes to earning commissions from sale of mutual funds, as there are as many as seven banks among the top-ten mutual fund distributors in terms of commissions paid to them.

Srei Infra sells 38% stake in Quippo Prakash for $122 mn

Private sector lender Srei Infrastructure Finance (SIFL) today said it has sold its 38 percent stakes in the derrik lay barge Quippo Prakash to a Malaysian firm SapuraKencana for a realisation of $122 million.

IFCI board approves conversion of Rs 923 cr bonds into equity

IFCI today said its board has decided to proceed with the conversion of Government of India bonds worth Rs 923 crore into equity.

Irda plans to align definition of infrastructure with that of CCI

The insurance regulator would align its definition of infrastructure with that of the Cabinet Committee on Infrastructure (CCI) and notify it soon.

Sebi asks entities to submit suspicious transaction reports

Market regulator Sebi has asked all the entities under its jurisdiction to submit suspicious transaction reports (STRs) electronically through a new direct online gateway to the Financial Intelligence Unit (FIU).

Investa Capital buys 8 lakh shares of Tech Mahindra for Rs 81 crore

Investa Capital Management today acquired around 8 lakh shares of software services provider Tech Mahindra for over Rs 81 crore through open market transaction.

Market to retain gains if Govt follows up with reforms, says UTI

The stock market is likely to be range-bound in the near term unless the Government succeeds in implementing the rash of reform measures announced this month to help boost investment and curtail fiscal deficit, a top fund house said today.

ACC Cement stock trades higher on Credit Suisse upgrade

Brokerage Credit Suisse has upgraded ACC Ltd to 'neutral' from 'underperform', saying cement prices have declined less than expected, while cost pressures are subsiding and capacity pressures are easing.

Discom bailout to have limited impact on Power Finance, says Barclays

<br /><br /> Barclays Capital added that Power Finance has limited discom exposure, and cited concerns about the recent run-up in its share prices.

Mutual funds may use AUMs for distribution biz: Sebi

The decisions follow deliberations by MFAC about mutual fund distributors in India not being regulated.

Cairn India down 3%; UK parent to sell stake in co again

Cairn Energy held 18.3 percent of Cairn India as of end-June, stock exchange data showed. After its latest share offering, its stake will fall to about 10 percent.<br /><br />

Govt extends holding limits on pulses, edible oils by one year

To check hoarding and contain price rise, the government today said the order restraining traders from holding stocks of pulses, edible oils and edible oilseeds beyond a limit will be in force for one more year.

BofA upgrades Tech Mahindra, Infosys on hopes of better earnings

Bank of America Merrill Lynch has upgraded Infosys and Tech Mahindra to 'buy' from 'neutral' citing improved revenue confidence and hopes of better earnings.

HDFC converts warrants worth Rs 3,285 crore

The largest mortgage player HDFC has alloted 5.47 crore shares worth Rs 3,285 crore on conversion of warrants on maturity to holders, who have made a profit of around 122 percent per unit.

Deutsche upgrades India Cements on attractive valuations

The investment bank has said India Cements was trading at the bottom of its 18-year range and looks to have factored in most of the negatives.

Macquarie upgrades Yes Bank to 'outperform' on high margins

Macquarie has upgraded Yes Bank to "outperform" from "neutral" and raised its target price to Rs 415 from Rs 380, saying current levels "offers good opportunity to accumulate."

Sebi office in Guwahati to educate N-E citizens on capital market

Besides Assam, Sebi earlier this month also announced setting up of offices in Bengaluru, Karnataka and Jaipur, Rajasthan.