Companies and Markets

Companies & Markets

SBI to raise Rs 20,000 cr for affordable housing, infra

State Bank of India today said its board has given nod to raise Rs 20,000 crore for financing affordable housing and infrastructure projects through long- term bonds.

"The executive committee of the Central Board in its meeting held today has inter alia approved, the proposal for issuance of long term bonds of Rs 20,000 crore for financing of infrastructure and affordable housing in domestic and overseas market in FY 2017-18 and FY 2018-19," the country's largest bank said in a BSE filing.

HSBC InvestDirect Securities settles case with Sebi

HSBC InvestDirect Securities has settled proceedings with markets regulator Sebi in connection with alleged violation of stock broker norms on payment of over Rs 3.30 crore towards settlement charges.

Sebi agreed to settle proposed adjudication proceedings in the case after it was approached by HSBC InvestDirect Securities (India) Ltd with a plea under the settlement regulations "without admitting or denying the findings of fact and conclusion of law".

Nifty’s corrective trend may deepen

The market ended lower on weak rupee and rising bond yields as selling pressure emerged throughout the day, snapping the three-day winning streak. Sensex and Nifty closed at 34,771.05 and 10,700.45 points, down by 0.21 per cent and 0.38 per cent, respectively.

Selling was seen in mid- and small-cap segments. The Nifty Mid-cap and Small-cap indices closed lower by 1.84 per cent and 2.48 per cent, respectively.

The broader market also depicted weakness, there were more than three losers for every gainer on the BSE

Technical outlook

IOC braces for a green future

Wary of being left behind in the emerging energy market, which will rely on renewable sources of energy that are cleaner, safer and inexhaustible, Indian Oil Corporation has drawn up big plans for manufacturing and retailing lithium-ion batteries for use in future electric vehicles and power generating stations.

Amber Enterprises: expensive valuation

Amber Enterprises India Ltd (AEIL) is a leading solution provider in the Indian room air conditioner (RAC), original equipment/design manufacturing (OEM/ODM) industry. The company has a diversified product portfolio that includes RAC, RAC components and Non AC components. AEIL caters to eight of the top 10 RAC brands (like Daikin, LG, Hitachi and Godrej). As per industry reports, AEIL’s overall volume share in the Indian RAC market stood at 19 per cent in FY17. Over the last few years, AEIL has been investing it in capacities and R&D capabilities.

Bull run to continue into 2019, says BoAML survey

Despite the global equity markets trading at all time high levels, the risk appetite of investors has not come down, according to a survey of global fund managers. Investors have raised their stock allocations to two-year highs and cut cash positions to five-year lows, with a majority expecting the equity bull run to continue into 2019.

EIH share on winning-spree after restart of Delhi property

EIH share is on an upward trend. After muted trading in the stock for the whole of December, it has suddenly attracted investor attention in the New Year. EIH has moved up steeply since January 1, from Rs 146.93 apiece to Rs 217.60/share.

Sebi set to issue final order against 5 brokerages involved in NSEL scam

Market regulator Sebi is in the process of issuing the final order against five brokerages involved in the Rs 5,500 crore NSEL scam. According to sources, the regulator will soon issue the final order against Philip Commodities, Anand Rathi, India Infoline Commodities, Motilal Oswal and Geofin Commodities.

The regulator had earlier issued show-cause notices to these entities and had given them an opportunity for personal hearings. The five brokers are charged with mis-selling of National Spot Exchange (NSEL) products, which collapsed after the Rs 5,500 crore scam was unearthed.

MF money brings down volatility in stocks

The risk appetite of the Indian market seems to be growing. The India VIX index, the so-called fear index, has hovered at lower range during most part of this fiscal.

Volatility in the Indian market has fallen sharply as stocks were on a steady rise for most part of the current financial. So far in FY18, there are far more days of less than 1 per cent intra-day volatility and fewer days of more than 2 per cent intra-day volatility, which is the lowest in more than a decade, indicating investor complacency.