Companies and Markets

Companies & Markets

Stocks of housing finance firms, banks vault

Stocks of select housing finance companies and public sector banks gained after the RBI reduced the risk weight on high value home loans and cut statutory liquidity ratio (SLR) for banks by 50 basis points to 20 per cent.
The gainers on the BSE included lenders catering to the affordable housing segment, led by Can Fin Homes (up 5.23 per cent), PNB Housing Finance (5.73 per cent), Gruh Finance (2 per cent), DHFL (1.47 per cent) and LIC Housing Finance (0.41 per cent).
Top home financier HDFC, however, fell 0.53 per cent and Indiabulls Housing Finance closed flat.

Reliance Group mulls MF unit IPO; eyes Rs 20K cr valuation

Anil Ambani-led Reliance Group plans to come out with an initial public offering (IPO) this financial year for its mutual fund arm, Reliance Nippon Life Asset Management (RNAM). The company is expected to have a valuation of about Rs 20,000 crore.
It could be the first initial public offering by a large asset management company (AMC) in India, though smaller rival UTI MF's IPO plans have been in the works for long.

IT stocks fall after Infy COO admits pricing pressure

Infosys chief operating officer (COO) Pravin Rao’s (in pic) negative outlook on the IT sector led to big price erosion of 1 to 5 per cent in top IT stocks on Wednesday. Shares of information technology or IT companies fell sharply in the range of 3 to 4 per cent intra-day following Infosys COO’s comment on pricing pressure, but later made a modest recovery.

Shanghvi loses $14b in 2 years

Dilip Shanghvi’s shrinking fortune has become one of the most visible casualties of the troubles hitting India’s generic drug industry. Once India’s richest person, he recently slipped toNo. 6 with his fortune dropping $14.1 billion from its peak about two years ago.

Committed to 6.5-8.5% revenue growth: Infy COO

IT services major Infosys on Wednesday said it remains "committed" to its guidance of 6.5-8.5 per cent revenue growth this year even as some clients ask for projects to be carried out at 30-40 per cent lower costs than before.
Infosys chief operating officer UB Pravin Rao (in pic) explained that while IT budgets have remained at similar levels, clients expect that for a three-five year renewal deal there would be a "30-40 per cent cost out".

Committed to 6.5-8.5% revenue growth: Infosys COO

IT services giant Infosys today said it remains "committed" to its guidance of 6.5-8.5 per cent revenue growth this year even as some clients ask for projects to be carried out at 30-40 per cent lower costs than before.
Infosys COO UB Pravin Rao explained that while IT budgets have remained
at similar levels, clients are expecting that for a 3-5 year renewal deal there would be a "30-40 per cent cost out".

WDM witnesses trade worth Rs 2,366.98 cr on NSE

The wholesale debt market segment of the National Stock Exchange today witnessed a total turnover of Rs 2,366.98 crore in 68 trades.
Top securities (non-repo) traded at the WDM were:
The 6.79 per cent government securities maturing in CG2029 traded value at Rs 425.00 crore at weighted yield of 6.77 per cent, the 8.17 per cent government securities maturing in CG2044 traded value at Rs 155.00 crore at weighted yield of 7.35 per cent and the 6.62 per cent government securities maturing in CG2051 traded value at

Sensex ends in green as RBI holds rates; banks top gainer

Mumbai, Jun 7 (PTI) The BSE Sensex today closed about 81 points higher at 31,271.28 after the Reserve Bank maintained status quo on policy rates, resulting in gains for rate- sensitive sectors like banking, realty and auto.
The Met department's revised forecast on monsoon and strengthening rupee also bolstered the domestic equities.
The Central Bank left lending rates unchanged citing risks to inflation due to spurt in farm loan waivers by states but raised lending capacity of banks to support economic growth.

Sensex pares early gains on RBI status quo

The BSE benchmark Sensex slipped into negative territory for a brief period after the RBI kept key policy rates unchanged today, but re-entered the green zone towards the fag-end of the session.
The central bank kept the interest rate unchanged, as widely expected, but raised concerns over fiscal slippages in view of rush for farm loan waivers.
It has, however, slashed the Statutory Liquidity Ratio (SLR) or the percentage of deposits that banks have to park in government securities, by 0.5 per cent, a move that would result increased lending by banks.

Market opens higher ahead of RBI policy outcome

The BSE benchmark Sensex started on a positive note by recovering over 99 points in early trade today as the revised forecast of better monsoon enthused investors, who are keenly awaiting the RBI's bi-monthly policy meet outcome due later in the day.
The Met department yesterday revised upward its initial monsoon forecast and said it is likely to be better than earlier expected.
The 30-share index, which had lost 118.93 points in the previous session, recovered by 99.42 points, or 0.31 per cent, to 31,289.98.

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