MCX- SX currency futures value at Rs 40.25 bn

Thu, 09 Jul 2009 19:42:00 +0530

Currency Futures

Currency futures saw a trading volume of Rs 40,252.6 million arising out of 822,942 contracts.

Contract wise summary:

Out of the 12 USDINR currency futures contracts available, 7 contracts got traded.

Inducto Steel buys OBO Ship for USD 4.34 mn

Thu, 09 Jul 2009 19:31:00 +0530

Inducto Steel has purchased a OBO (ORE/BULK/OIL) Ship named M.V. AUGUSTA weighing 17411.90 M.T. from Karina Shipping, Kingstown for USD 4.34 million for ship breaking activity.

The company is engaged in the ship-breaking business.The company has its ship-breaking facilities at the Alang Ship Recycling yard in Gujarat.

Besides this activity, the company offers its surplus funds on interest to other parties and invests in shares and securities for short-term and long-term capital gains and dividend.

FIIs remain net buyers in equities on Jul 8

Thu, 09 Jul 2009 19:31:00 +0530

Foreign Institutional Investors (FIIs) remained net buyers in equities worth Rs 7,755 million on Jul 8. They bought equities worth Rs 34,510 million and sold equities worth Rs 26,755 million. Till Jul 8, they have been net buyers in equities worth Rs 43,567 million.

FIIs remained net sellers in the debt segment worth Rs 175 million on Jul 8. They bought debt worth Rs 726 million and they sold debt worth Rs 901 million. Till Jul 8 they have been net sellers in debt worth Rs 38,753 million.

FIIs remained net buyers in derivatives worth...

FIIs sell net of Rs 5.46 bn equities on Jul 09

Thu, 09 Jul 2009 19:30:00 +0530

Foreign Institutional Investors (FIIs) remain net sellers in the equity segment worth Rs 5.46 billion on both the BSE and the NSE on July 09 as per provisional data available at NSE. They bought equities worth Rs 21.64 billion and sold equities worth Rs 27.10 billion.

While, Domestic Institutional Investors (DIIs include banks, DFIs, Insurance and MFs) remain net buyers in the equity segment worth Rs 5,781.6 million on both the BSE and the NSE on July 09, as per provisional data available at the NSE. They bought equities worth Rs 12,950.4 million and...

Govt. to roll back fuel prices if crude rates dip

Thu, 09 Jul 2009 19:28:00 +0530

Murli Deora, oil minister said that the government will roll back the Rs 4 a litre hike in petrol prices and Rs 2 a litre increase in diesel rates if international crude oil prices stabilize between USD 50 and 60 a barrel, said Murli Deora, oil minister.

``Yes, we will cut prices if crude prices stabilize for sometime between USD 50 and 60 per barrel``, he said.

The Government had last week raised petrol and diesel prices citing spike in international crude oil prices to USD 70 a barrel.

International rates...

10-yr G-sec yield ends steady at 6.97%

Thu, 09 Jul 2009 19:19:00 +0530

Indian federal bond yields ended almost unchanged on Thursday, July 9 as traders awaited the Reserve Bank of India`s (RBI`s) buyback auction results for further cues.

The yield on the 6.05% bond maturing in February 2019 ended 2 basis points lower at 6.97% as compared to previous close of 6.99%.

There were only 8 trades in the bond on the central bank`s platform today.

...

Praj Industries Q1 net climbs 2.34%

Thu, 09 Jul 2009 19:12:00 +0530

Praj Industries has reported a marginal rise of 2.34% in the net profit for the quarter ended June 2009. During the quarter, the profit of the bank was at Rs 253.30 million as against Rs 247.50 million for the quarter ended Jun. 30, 2008.

Total income for the quarter decreased 11.97% to Rs 1567.90 million, when compared with the prior year period.

Shares of the company gained Rs 1.35, or 1.65%, to settle at Rs 83.05. The total volume of...

MCX- SX Rupee Jul contract closes at 48.79: Commtrendz

Thu, 09 Jul 2009 19:12:00 +0530

The MCX �SX USDINR July futures opened weaker to its previous close at 49. BSE Sensex opened at 13,787.40, 19 points higher from its previous close. India`s economy will expand by 6.5% in 2010, compared with the April forecast of 5.6%, after a 5.4% increase this year. The IMF, according to its revised forecast, said that the world economy would expand 2.5% in 2010, compared with its April projection of 1.9% growth. U.S. gross domestic product will shrink 2.6% this year before expanding 0.8% in 2010. For the three months to the end...

Rupee ends stronger at 48.72/73 vs USD

Thu, 09 Jul 2009 19:12:00 +0530

The rupee appreciated on Thursday, July 9 on account of weaker US unit amongst major currencies overseas but the volatile local equities capped its gains.

The partially convertible settled 0.3% stronger to stand at 48.72/73 a US dollar than its Wednesday`s close of 48.88/89.

It had an intraday low of 49.06, its weakest since May 15.

The Sensex ended the day with a loss of 11.69 points, or 0.08% at 13,757.46 after touching a high of 13,879.18 and a low of 13,643.97. The broad-based NSE Nifty climbed 2.05 points, or...

Daily market report: MCXCOMDEX down 0.24%

Thu, 09 Jul 2009 19:02:00 +0530

...

Care assigns BBB & PR3 rating to Fortis Healthcare

Thu, 09 Jul 2009 18:58:00 +0530

Credit rating agency, CARE has assigned a BBB rating to the Long-term Bank Facilities and also has assigned a PR3 rating to the Short-term Bank Facilities of Fortis Healthcare.

This rating is applicable to facilities having tenure of more than one year.

Facilities with this rating are considered to offer moderate safety for timely servicing of debt obligations and with this rating would have moderate capacity for timely repayment of short-term debt obligations at the time of rating and...

Wockhardt announces acceptance of CDR package

Thu, 09 Jul 2009 18:56:00 +0530

Wockhardt today announced that the company has accepted the corporate debt restructuring package (CDR) which was approved by the CDR empowered group on June 30, 2009.

Wockhardt noted that the restructuring of debt, release of working capital and fresh priority debt by banks pending divestment of non-core assets is a positive step forward and shall provide a great impetus to the core operations of the company.

Shares of the company gained Rs 7.65, or 6.42%, to settle at Rs 126.80. The total volume of shares traded was 213,521 at the BSE...

Nifty has major support at 4,001

Thu, 09 Jul 2009 18:53:00 +0530

Alex Mathews head, research centre -Geojit BNP Paribas Financial Services discussing the market outlook for July 10, 2009 said, `` Nifty is having major support at 4,001 while the resistance is there at 4,140 and 4,185 levels``.

Discussing the market performance of the day July 9, 2009, he said, ``The markets had opened on a weak note on the back of negative cues coming in from the Asian markets but moved into green soon after opening in red but couldn`t stay up for long and slipped into red again in the morning itself. Renewed buying...

RCom to unveil advertising-funded videos

Thu, 09 Jul 2009 18:50:00 +0530

ADA group firm Reliance Communications (RCom) has partnered with 3rd Space Services for advertising-funded videos on its mobile services platform, reports agency sources.

Under the agreement, the UK-based 3rd Space will supply mobile video content to Reliance Communications.

It will also offer premium content such as `Who Wants To Be a Millionaire`, bollywood songs and films along side the world`s leading sporting content, available on every data enabled handset within the Reliance network.

It is learnt that both companies would focus on bringing in Indian and international advertisers.

Shares...

ICRA assigns LBBB/ A3+ rating to Minda Industries

Thu, 09 Jul 2009 18:39:00 +0530

Credit rating agency, ICRA has assigned LBBB rating to the Rs 454 million cash credit facilities, Rs 760 million term loans and Rs 20 million bank guarantee facilities and has also assigned A3+ rating to the Rs. 76 million non-fund based facilities of Minda Industries (MIL).

LBBB is the moderate-credit-quality rating assigned by ICRA to long term debt instruments. A3 is the moderate-credit-quality rating assigned by ICRA to short-term debt instruments.

The rating favorably considers...

Market may display a weak trend tomorrow

Thu, 09 Jul 2009 18:37:00 +0530

Avinash Gupta, assistant vice President Research Equity, Bonanza Portfolio commenting on the market outlook for July 10, 2009 said, ``The market is in intermediate downtrend and is expected to display a weak trend``.

Discussing the market performance of the day (July 9, 2009), he said, ``The market recovered from the days low to end flat. Stocks of FMCG sector were in demand and select stocks have moved up. This is due to the expectation that the government policies are going to spur the consumption demand.Oil marketing companies were up today also due to...

HCC bags Rs 3.87 bn order

Thu, 09 Jul 2009 18:35:00 +0530

Hindustan Construction Company (HCC) secured Rs 3.87 billion order to construct Dagacchu Hydro Power Plant, Bhutan.

The company has received a letter of acceptance from Dagacchu Hydro Power Corporation, Bhutan for execution of Lot 1 Dagacchu Power Plant (civil works), Bhutan.

Shares of the company gained Rs 2.8, or 2.83%, to settle at Rs 101.85. The total volume of shares traded was 3,022,027 at the BSE (Thursday).

...

NCDEX trade volume stands at Rs 26.52 bn

Thu, 09 Jul 2009 18:32:00 +0530

The daily turnover volume at the National Commodity and Derivative Exchange (NCDEX) stood at Rs 26.52 billion (one-way). There were 447 members (1,967 users) participated in trading on July 09, 2009 up to 5:00 p.m.

There were more than 70,280 trades put through by them. Active trades were high among others Soya Oil, Chana, Guar Seed, Rape Mustard Seed and Soyabean.

On July 08, 2009 456 members (1,963 users) participated in trading and put through more than 67,796 trades. The volume for the evening trading session till 11:30 p.m. was Rs 25.87 billion...

Call rates rise on July 09

Thu, 09 Jul 2009 18:30:00 +0530

Overnight call rates up on Thursday, July 09, with weighted average rate (WAR) at 3.21% compared to the previous day`s close of 3.16%, traded within the range of 2.25-3.30%, as per the data available at Clearing Corporation of India (CCIL).

The volume in the call money market stood at Rs 14.1 billion.

Further, the volume of 1-day Collateralized Borrowing and Lending Obligation (CBLO) stood at Rs 464 billion.

It was observed in the band of 2.60-3.05%, WAR stood at 2.89% as against 2.90% from previous close.

Meanwhile, the volume of 1-day market repos...

BHEL awards contracts worth Rs 266.1 mn to banned firm: CAG

Thu, 09 Jul 2009 18:30:00 +0530

...

Job loss and insurance premium

Thu, 09 Jul 2009 18:24:00 +0530

Author: P.V. Subramanyam

When an insurance advisor approaches us, we are normally not in too much of a mood to buy life insurance!

So when you are short of money, or if you (or your spouse) have lost your job the first casualty is the life insurance premium!

You have just joined the 500,000 people who have lost their jobs in INDIA since September - 08.

Then your life insurance premium notice arrives. What do you do?

It`s...

Skindia GDR Index down 3.10%

Thu, 09 Jul 2009 18:18:00 +0530

At 3:30 pm, the Skindia GDR Index is down 3.10% to 1,825.83 with most GDRs sharply lower at the start of trading. Of the 15 components of the Skindia GDR Index, six are up and nine are down.

The main gainers are GAIL (+6.76%; weight 1.78%), Satyam Computers (+1.80%; weight 1.69%) and State Bank of India (+1.23%; weight 9.82%) and the main losers are Sterlite Industries (-8.59%; weight 9.29%), Tata Motors (-6.94%; weight 2.79%) and ICICI Bank (-6.67%; weight 21.77%). Since US markets are yet to open the change...

IREO to pump USD 500 mn in India

Thu, 09 Jul 2009 18:05:00 +0530

Global real estate major player IREO will invest USD 500 million in various infrastructure projects in India over a period of seven years, reports Economic Times.

Lalit Goyal, vice-chairman and managing director (MD), IREO said that having already invested USD 1.5 billion the company still has another USD 500 million available in cash for further investments in their projects.

The company currently has 13 projects and is in the process of constructing an IT SEZ (special economic zone) in Pune which is expected to complete...

Instanex FII Index ends down 0.15%

Thu, 09 Jul 2009 17:48:00 +0530

Domestic institutional investors seem to have bought and FIIs seem to have sold. At close, the Instanex DII 15 Portfolio was up 0.25% (+0.38% at 3 pm), outperforming the Instanex FII Index which was down 0.15% (unchanged at 3 pm) to 296.19.

The other Instanex Ownership Indices were mixed - the Instanex Promoter 15 portfolio was up 0.01% (+0.43% at 3 pm), the Instanex Top 15 portfolio was down 0.01% (+0.27% at 3 pm) and the Instanex Retail 15 portfolio was down 0.09% (+0.13% at 3 pm).

Of the 15...

News Centre@myiris.com India's Most Comprehensive Financial Destination

Bulk Deals: HCC tops NSE chart

US soybean exports rise marginally during June 26-July 2: USDA

US rice exports slip 20% during June 26-July 2: USDA

US corn exports rise by 30% during June 26-July 2: USDA

US cotton exports rise by 2% during June 26-July 2: USDA

DSP BlackRock MF unveils World Energy Fund

MCX- SX currency futures value at Rs 40.25 bn

Inducto Steel buys OBO Ship for USD 4.34 mn

FIIs remain net buyers in equities on Jul 8

FIIs sell net of Rs 5.46 bn equities on Jul 09

Govt. to roll back fuel prices if crude rates dip

10-yr G-sec yield ends steady at 6.97%

Praj Industries Q1 net climbs 2.34%

MCX- SX Rupee Jul contract closes at 48.79: Commtrendz

Rupee ends stronger at 48.72/73 vs USD

Daily market report: MCXCOMDEX down 0.24%

Care assigns BBB & PR3 rating to Fortis Healthcare

Wockhardt announces acceptance of CDR package

Nifty has major support at 4,001

RCom to unveil advertising-funded videos

ICRA assigns LBBB/ A3+ rating to Minda Industries

Market may display a weak trend tomorrow

HCC bags Rs 3.87 bn order

NCDEX trade volume stands at Rs 26.52 bn

Call rates rise on July 09

BHEL awards contracts worth Rs 266.1 mn to banned firm: CAG

Job loss and insurance premium

Skindia GDR Index down 3.10%

IREO to pump USD 500 mn in India

Instanex FII Index ends down 0.15%