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Shares of  Reliance Industries  (RIL) gained 4 per cent to Rs 1,475 on the BSE on Monday in the early morning deal. The stock has surged 19 per cent in the past four trading days after the company announced $5.7 billion equity deal with  Facebook.  In comparison, the benchmark S&P BSE Sensex has gained 4.1 per cent during the same period. RIL on Wednesday, April 22, 2020 announced that  Facebook  would invest Rs 43,547 crore ($5.7 billion) in the company’s wholly-owned subsidiary Jio Platforms to expand its presence in India. A sharp rally in stock price has seen the market captialisation (market-cap) of RIL increase by Rs 1.5 trillion in four trading days. The company’s market-cap stood at Rs 9.35 trillion in the intra-day trade today, from Rs 7.83 trillion on April 21, 2020, the exchange data shows. The stock hit a two-month high today and has recovered 68 per cent from its last month low of Rs 876 touched on March 23, in an intra-d...

Podcast News : A huge sell-off in the equity markets yesterday and a recovery in global markets overnight may prompt a rebound in domestic indices today. However, short-term risk from any new aggression on the US-Iran front remains intact. A reports by Reuters that the government is likely to cut spending for the current fiscal year to curb deficit as it faces one of the biggest tax shortfalls in recent years is also expected to weigh on investor sentiment. Apart from this, market participants will continue to follow the trajectory of the Rupee which plunged 13 paise on Monday to settle at 71.93 against the US currency. They will also be on the lookout for on any news flow regarding the upcoming Budget. Besides, investors will track stock-specific action, foreign fund flows, and global developments throughout the day for further cues. Among individual stocks, TCS will remain in focus as the IT bellwether is set to postpone the announcement of its Q3 results from the earlier ...

Reliance Industries (RIL) on Thursday became the first Indian company to hit Rs 10 trillion market capitalisation (m-cap) after the stock price hit a new high of Rs 1,581.25 on the BSE. The oil-to-telecom conglomerate's m-cap zoomed to Rs 10,02,380 crore during the trade on the BSE. Minutes later, however, the m-cap slipped below Rs 10 trillion-mark. In the past eight trading days, RIL has outperformed the market by gaining 8 per cent, after Reliance Jio, the telecom arm of the company, said it will increase tariffs in next few weeks. In comparison, the S&P BSE Sensex has gained one per cent during the same period. "Like other operators, we will also work with the Government and comply with the regulatory regime to strengthen the industry to benefit Indian consumers and take measures including appropriate increase in tariffs in next few weeks in a manner that does not adversely impact data consumption or growth in digital adoption and sustains investments," ...

Reliance Industries on Tuesday regained the status of the country's most valued firm in terms of market valuation, surging past information technology (IT) giant Tata Consultancy Services (TCS) in intra-day trade. At 01:02 PM; RIL market capitalisation (m-cap) stood at Rs 7.48 trillion, more than TCS' of Rs 7.40-trillion valuation, as per BSE data. Earlier on April 11, 2018, RIL had m-cap of Rs 5.89 trillion and TCS of Rs 5.77 trillion on closing level basis. Thus far in the month of July, RIL has rallied 21%, while TCS up 4.5% on the BSE. On comparison, the S&P BSE Sensex was up 6%. RIL hit a new high of Rs 1,181, up 2.8%, extending its 4% gain in past two trading days, after the company reported 17.9% year on year (yoy) growth in consolidated net profit at Rs 94.59 billion in June quarter (Q1FY19). During the June quarter, its consolidated revenue grew 41% yoy at Rs 993 billion. The company’s consumer businesses accounted for nearly 21% of consoli...

Budget 2018 Benchmark records Sensex and Nifty finished imperceptibly bring down after Finance Minister Arun Jaitley proposed a long haul capital increases impose. Financial plan 2018 has proposed to demand long haul capital increases impose (LTCG) of 10% on increases surpassing Rs 100,000 from offer of value shares. In any case, capital additions made on shares until January 31, 2018, would be grandfathered, the back clergyman said. Additionally, there has been no adjustment in the meaning of here and now capital increases assess (STCG). Flagging, that monetary judiciousness has gone off track, Jaitley proposed a financial shortage focus of 3.3% of GDP for 2018-19. The objective he had set for 2018-19 a year ago was 3%. The current year's financial plan focussed more on provincial and agri economy. My administration is focused on the welfare of the charges. Horticulture is an undertaking and urging agriculturists to win more," he included. Click here To know ...

Private-sector lender Federal Bank’s net profit for the second quarter ended September 2017 rose by 30.8 per cent to Rs 263 crore on robust growth in net interest income. It had posted a net profit of Rs 201 crore in July-September 2016. Federal Bank’s stock was trading 3.16 per cent up at Rs 121 per share on BSE. Its net interest income rose by 23.8 per cent to Rs 899 crore in Q2 of FY18 from Rs 726 crore in the same quarter a year ago. Its, other income comprising fees, commissions and treasury revenues rose marginally to Rs 287 crore from Rs 272 crore in the second quarter of 2017. The asset quality showed some improvement in percentage terms with the gross non-performing assets (GNPAs) at 2.39 per cent at end of September 2017 as against 2.78 per cent a year. The provisions and contingencies were almost flat at Rs 176 crore compared to 168 crores in the second quarter of 2017. 

Private sector lender Axis Bank has reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to Rs 50 lakh. However, the bank will continue to pay four per cent interest on deposits of above Rs 50 lakh. The new interest rates will be effective from August 8, Axis Bank said in its filing with the BSE. Axis Bank’s action follows the decision by State Bank of India (SBI) and Bank of Baroda to reduce rates on savings deposits. SBI was the first bank to cut the savings deposit rate by 50 basis points to 3.5 per cent for deposits up to Rs 1 crore. Bank of Baroda had cut the rate to 3.5 per cent on deposits of up to Rs 50 lakh. While Kotak Mahindra Bank retained the existing rates of five per cent on savings deposits up to Rs 1 lakh and 6 per cent on deposits between Rs 1 lakh and Rs 1 crore, it reduced the rate on savings deposits of amounts above Rs 1 crore and up to Rs 5 crore from six per cent to 5.5 per cent. The interest rate on deposi...

India's largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors. "The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures... Aggregating Rs 2,000 crore to various investors," State Bank of India (SBI) said in a regulatory filing on Thursday. SBI said the bonds will carry a coupon rate of 8.15 per cent per annum with a call option after 5 years or the anniversary date thereafter. Shares of SBI were trading 1.67 per cent lower at Rs 302.50 on the BSE. 

ICICI Prudential Life Insurance has shown interest in taking over Sahara Life Insurance, which was asked to close down its business by the Insurance Regulatory and Development Authority of India (Irdai) last month. In an announcement to the BSE on Tuesday, ICICI Prudential Life said, “We have expressed our interest to evaluate taking over policyholders' liabilities and assets of Sahara Life.” It said the last reported policyholders' liabilities of Sahara Life was about Rs 900 crore, less than 1 per cent of ICICI Prudential Life's balance sheet. “We are evaluating the way forward,” ICICI Prudential Life said in its statement. The regulator had expressed its concerns over Sahara Life running its business in a manner which was likely to be “prejudicial to the interests of the holders of the life insurance”. Owing to irregularities in financial statements, the regulator had appointed one of its general managers as administrator to manage the affairs of Sahara Life on ...

Two-wheeler makers had a different ride from car manufacturers in June. Against a double-digit decline in sales volume for passenger vehicles, most two-wheeler makers clocked growth. The June performance was led by the country’s biggest two-wheeler maker, Hero MotoCorp . Hero, TVS, Royal Enfield, and Suzuki reported strong double-digit growth in sales volume for June. Price cut due to GST roll-out from July is expected to expand the market further. Hero MotoCorp, which sells every third two-wheeler in the country, reported a growth of over 13 per cent in sales volume. Its motorcycle sales volume surged 13 per cent to 547,185 units while scooter volume rose 22 per cent to 77,000 units for June. Its stock rose more than two per cent to Rs 3,777 on BSE. The company said growth in motorcycles was supported by wedding season demand. Its closest competitor and former partner Honda clocked four per cent growth in sales volume to 444,713 units. The company is the country’s sec...

Private sector Axis Bank will raise Rs 5,000 crore by issuing bonds on a private placement basis. "The board of directors of the bank today approved the allotment of 50,000 unsecured, redeemable non-convertible subordinated debentures, Basel III compliant tier II debentures aggregating to Rs 5,000 crore on a private placement basis," Axis Bank said in a regulatory filing. According to Basel III Capital Regulations, banks have to improve and strengthen their capital planning processes so as to be ready to mitigate any concerns that may arise if there are potential stresses on asset quality and consequential impact on performance and profitability of banks. Banks in India have been implementing Basel III norms in phases since April 1, 2013 and are set to be fully compliant by March 2019, little behind globally accepted deadline of January 1, 2019. Axis Bank said it will list the debentures in the wholesale debt market segment of BSE and NSE. The bonds are rated ...

Tata Consultancy Services' (TCS')   board of directors has approved a proposal to buyback up to 5,61,40,351 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore, the company informed BSE in a filing.  The buyback size works out to 2.85 per cent of the company's total paid up equity share capital, at Rs 2,850 per equity share.  "The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the Sebi (Buy Back of Securities) Regulations, 1998, and the Companies Act, 2013, and rules made thereunder," the filing said.  Further, the buyback size does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, printing and dispatch...

Shares of  Bombay Stock Exchange   (BSE) made a strong debut on Friday, with the scrip listing at Rs 1,085, a 35% premium over the issue price of Rs 806 on the National Stock Exchange (NSE). The stock hit high of Rs 1,200, up 49% against its issue price within minutes of listing. At 10:02 the stock was trading at Rs 1,190, 48% higher as compared to its issue price on the NSE. Around 5.66 million shares changed hands on the counter on the NSE so far.  "Although the stock is bit expensive at this point in time. At the current levels, the stock is trading at 28x trailing price-to-earnings (PE). Going ahead, more demand is expected as the allotment has not been up-to-the-mark. I believe another 20% upside is possible in the short-to-medium term. However, from a lonfer term perspective, it can even double from the current levels given its unique business model. My advice is to not sell this stock if you already hold it, and add more whenever the stock corrects by 1...