Tuesday, 7 May 2013
HDFC Mutual Fund sold 1.10 lakh shares of MM Forgings
HDFC Mutual Fund sold 1,10,000 shares of MM Forgings at Rs 68.25 on the BSE.However, HDFC Mutual Fund A/C HDFC Midcap Opportunities Fund sold 1,70,000 shares at Rs 68.25.
In the previous trading session, the share closed at Rs 68.20, up Rs 1.20, or 1.79 percent. It has touched a 52-week low of Rs 66.50.
In the previous trading session, the share closed at Rs 68.20, up Rs 1.20, or 1.79 percent. It has touched a 52-week low of Rs 66.50.
Godrej Properties to mull rights issue
Godrej Properties shares gained two percent in early trade Tuesday as the board of directors of the company will be considering the issue of equity shares on rights basis on May 9.
The board will also mull and approve the audited financial results for the quarter and year ended March 31, 2013 and recommendation of dividend for the financial year ended March 31, 2013.
The board will also mull and approve the audited financial results for the quarter and year ended March 31, 2013 and recommendation of dividend for the financial year ended March 31, 2013.
Emami rises 3% on strong Q4 earnings, bonus issue
Emami Share Consolidated profit grew by 30 percent year-on-year to Rs 94 crore while sales rose over 13 percent to Rs 451 crore from Rs 398 crore, Y-o-Y.
Revenue growth was tad below street estimates of 19 percent because of 12.3 percent de-growth in international business.
Revenue growth was tad below street estimates of 19 percent because of 12.3 percent de-growth in international business.
BSE and NSE identify scrips for the restricted category
Country's premiere bourses BSE and NSE have identified several scrips to be shifted to the restricted trading category with effect from May 10, as a measure to ensure market safety.
BSE would shift 26 stocks to the trade-to-trade or 'T' group, while NSE would transfer 11 scrips to this category, the exchanges said in separate notifications.
Some of the stocks which would be moved to the 'T' group on both the exchanges are -- Gemini CommunicationBSE 4.85 %, Indiabulls Wholesale ServicesBSE -0.69 %, Ind-SwiftBSE 0.79 % and Kesoram IndustriesBSE 9.96 %.
BSE would shift 26 stocks to the trade-to-trade or 'T' group, while NSE would transfer 11 scrips to this category, the exchanges said in separate notifications.
Some of the stocks which would be moved to the 'T' group on both the exchanges are -- Gemini CommunicationBSE 4.85 %, Indiabulls Wholesale ServicesBSE -0.69 %, Ind-SwiftBSE 0.79 % and Kesoram IndustriesBSE 9.96 %.
Monday, 6 May 2013
clean-chit to ICICI Bank, HDFC Bank and Axis Bank_KYC norms
Subbarao, speaking at the customary post-policy media interaction, asserted that while money laundering, which involves use of criminal money, has not been observed in any of the banks, certain "specific transgressions" on the know-your-customer (KYC) front have been discovered.
The RBI said it has not given clean-chit to ICICI Bank, HDFC Bank and Axis Bank, which are accused of money laundering and flouting KYC norms, and stated the probe against the three banks is still on.The inquiry is still in progress," RBI Governor D Subabrao told reporters when asked whether the apex bank had given clean chit to the three banks.
Global markets continue to rally
Positive cues from the US jobs data had a rub-off effect and helped in overcoming uncertainty following downgrade of economic forecasts by the European Union. The European Union had earlier said that it expected the 17-country Eurozone's economy to shrink by 0.4% this year. This is 0.1% higher than its February prediction. The stock markets in Germany and France posted the sharpest gains of 3.9% and 2.7%, respectively. The UK market was up by 1.5%.
The Indian markets closed the week on a positive note with the shares in the FMCG space leading the gains. The Indian stock markets were up by 1.5%. The Brazil market surged by 2.3% backed by rally in the stock of largest airplane manufacturer Embraer. Even the Chinese market was up by 1.3% over the week. The Japanese market was the only loser as strengthening yen dimmed hopes of boosting corporate profits.
All the major global indices, barring the Japanese index, continued to have a positive outing over the week. A strong US jobs report by the Labor Department saw the unemployment rate being revised downwards to 7.5%, the lowest in four years. This helped allay fears of slowdown in the world's largest economy and bolstered the US markets which were up by 1.8%.
The Real Reason U.S Government Is Paying Down the National Debt
After six years of non-stop deficit spending that has added $8.2 trillion to the national debt, the U.S. Treasury has announced that it expects to reduce the country's debt by $35 billion this quarter.Given that national debt growth has rocketed past $16.7 trillion and is on track to exceed $17 trillion at some point in the fall, a $35 billion reduction is laughably tiny. It's just 0.02% of what we as a nation owe.
And in the very same statement, the Treasury admitted that in the following quarter it expects to be back to borrowing as usual - $223 billion worth, more than six times the amount it plans to pay down this quarter.
Stock Market Today Reacts to Gold and China
Dragging stocks down was a report that China's economy grew at 7.7% in Q1, weaker than the 8% growth economists were expecting, and down from Q4's 7.9%. This rattled global markets, as fears spread that there would be continued lower demand for Chinese goods and services.
The Dow Jones Industrial Average dropped 0.61% to 14,773.75. The Standard and Poor's 500 Index slumped 0.75% to 1,576.87. The Nasdaq fell 0.80% to 3,268.45. Oil slipped 3.44% to $88 a barrel.And the biggest loser of the day, gold plunged as much as 6.3%, hitting a low of $1,384.60
Gold futures rise on global cues
The yellow metal for delivery in August traded higher by Rs 139, or 0.51 per cent, to Rs 27,440 per 10 grams in 175 lots.
Analysts said speculators enlarged their positions, driven by firm global trend mainly led to rise in gold prices at futures trade.Gold rose 0.6 per cent to USD 1,479.08 an ounce in Singapore.
Gold prices rose by Rs 142 to Rs 27,104 Rs 27,104 per 10 grams in futures trade today as speculators enlarged their positions.
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