Home >> Profile >> Yatheendradas C.k.

Profile

Yatheendradas C.k.

Yatheendradas C.k.

City: Bangalore

Joining Date: 11 Jul , 2009
Last Login: 08:46 AM - 15 Sep , 2019
IP Address of Last Login - 45.92.3xxx
Profile Verified by Mobile.

New Thread: Saudi oil output cut in half after drones strike

Yatheendradas C.k. at 08:53 AM - Sep 15, 2019 ( )

Saudi oil output cut in half after drones strike Aramco site
By: Bloomberg | Published: September 15, 2019 7:31:34 AM   The Financial Express
Iran-backed Houthi rebels in Yemen, who’ve launched several drone attacks on Saudi targets in the past, claimed responsibility for the assault on the kingdom’s Abqaiq plant.

Saudi Arabia’s oil production was cut by half after a swarm of explosive drones struck at the heart of the kingdom’s energy industry and set the world’s biggest crude-processing plant ablaze — an attack blamed on Iran by the top U.S. diplomat.

Iran-backed Houthi rebels in Yemen, who’ve launched several drone attacks on Saudi targets in the past, claimed responsibility for the assault on the kingdom’s Abqaiq plant.


U.S. Secretary of State Michael Pompeo said in a tweet there’s no evidence the attacks came from Yemen and blamed Iran directly, but didn’t offer evidence for that conclusion either. President Donald Trump spoke with Saudi Crown Prince Mohammed Bin Salman by telephone but hasn’t commented directly. Dow Jones reported that Saudi and U.S. officials are investigating the possibility that cruise missiles were launched from Iraq, which is much closer than Yemen.

About 5.7 million barrels per day of output has been suspended, Saudi Aramco said in a statement. “Work is underway to restore production and a progress update will be provided in around 48 hours,” said Amin H. Nasser, Aramco’s president and chief executive officer.

That’s affected about half of Saudi Arabia’s oil production. Gas output was also disrupted, with 2 billion cubic feet in daily output, about half of normal production, stopped by the attack, SPA news agency said, citing the kingdom’s Energy Minister Abdulaziz bin Salman. Operations in Abqaiq and Khurais are halted for now.

“Abqaiq is the heart of the system and they just had a heart attack,” said Roger Diwan, a veteran OPEC watcher at consultant IHS Markit.

The biggest attack on Saudi Arabia’s oil infrastructure since Iraq’s Saddam Hussein fired Scud missiles into the kingdom during the first Gulf War, the drone strike highlights the vulnerability of the network of fields, pipeline and ports that supply 10% of the world’s crude oil. A prolonged outage at Abqaiq, where crude from several of the country’s largest oil fields is processed before being shipped to export terminals, would jolt global energy markets.

“For the oil market, if not the global economy, Abqaiq is the single most valuable piece of real estate on planet earth,” Bob McNally, head of Rapid Energy Group in Washington.

Aramco is working to compensate clients for some of the shortfall from its reserves. Emergency crews have contained the fires, Aramco said.

Trump expressed support for the kingdom’s self-defense during a phone call with Saudi’s Bin Salman after the attack, the White House said.

Saudi Aramco, which pumped about 9.8 million barrels a day in August, will be able to keep customers supplied for several weeks by drawing on a global storage network. The Saudis hold millions of barrels in tanks in the kingdom itself, plus three strategic locations around the world: Rotterdam in the Netherlands, Okinawa in Japan, and Sidi Kerir on the Mediterranean coast of Egypt.

The U.S. Department of Energy said it’s prepared to dip into the Strategic Petroleum Oil Reserves if necessary to offset any market disruption.

The International Energy Agency, responsible for managing the oil reserves of the world’s industrialized economies, said it was monitoring the situation, but the world was well-supplied with commercial stockpiles.

Facilities at Abqaiq and the nearby Khurais oil field were hit at 4 a.m. local time, SPA reported.

A satellite picture from a NASA near real-time imaging system published early on Saturday showed a huge smoke plume extending more than 50 miles over Abqaiq. Four additional plumes to the south-west appear close to the Ghawar oilfield, the world’s largest. While that field wasn’t attacked, its crude is sent to Abqaiq and the smoke could indicate flaring. When a facility stops suddenly, excess oil and natural gas is safely burned in large flaring stacks.?

The attacks were carried out with 10 unmanned aerial vehicles — drones — and came after intelligence cooperation from people inside Saudi Arabia, Yemen’s rebel-run Saba news agency reported, citing Houthi spokesman Yahya Saree.

“Our upcoming operations will expand and would be more painful as long as the Saudi regime continues its aggression and blockade” on Yemen, he said.

Saudi Arabia’s oil fields and pipeline have been the target of attacks over the past year, often using drones, with the incidents mostly claimed by Yemeni rebels. Tensions in the Persian Gulf — pitting Saudi Arabia and its allies, including the United Arab Emirates, against regional foe Iran — have highlighted the risk to global oil supply.

Saturday’s attack is the largest and most sophisticated yet. The Houthi forces have used small and medium-sized unmanned aerial vehicles in various roles, according to a United Nations report. Some are loaded with munitions for use as “kamikaze drones” with a range of up to 1,500 kilometers (932 miles).

Yemen’s Houthi rebels have been battling a Saudi-led coalition since 2015, when mainly Gulf forces intervened to restore the rule of President Abd Rabbuh Mansur Hadi and his government after the Houthis captured the capital, Sana’a. The conflict has killed thousands of people and caused one of the world’s worst humanitarian crises.

Red Lines
In recent months, Iran has become increasingly aggressive, regionally and over the issue of oil, attacking and hijacking tankers especially near the Straits of Hormuz. Yet they’ve seemed careful about crossing perceived “red lines” as they protest U.S. sanctions against their own oil.

At the same time, the Trump administration’s own impulses have seemed to vary: Trump has warned Iran against escalation, yet pulled back on a planned retaliatory attack, and fell out with his former National Security Adviser John Bolton, in part because of Bolton’s militancy against Iran.

The attacks come as Aramco, officially known as Saudi Arabian Oil Co., is speeding up preparations for an initial public offering. The energy giant has selected banks for the share sale and may list as soon as November, people familiar with the matter have said.

Saudi Oil Fields Are in the Firing Line as Gulf Conflicts Rage


Khurais is the location of Saudi Arabia’s second-biggest oil field, with a production capacity of 1.45 million barrels a day.

Abqaiq has a crude oil processing capacity of more than 7 million barrels a day, according to the U.S. Energy Information Administration.

New Thread: Quotations from The Bhagavad Gita

Yatheendradas C.k. at 06:28 AM - Sep 15, 2019 ( )

Because the fool wants to become God, He never finds him. The master is already God, Without ever wishing to be.


—The Bhagavad Gita

New Thread: GLOBAL MARKETS TREND

Yatheendradas C.k. at 05:29 AM - Sep 14, 2019 ( )

European stocks edged higher on Friday afternoon after the European Central Bnk (E C B) delovered aggressive package in a bid to reinvigorate the ailing euro zone economy. The pan-European Stoxx 600 closed 0.4% higher. The DAX is up 0.47% while London's FTSE 100 is up 0.31% and France's CAC 40 is up 0.22%.

05:28  IST

 


From: yatheendradas c.k. at 05:40 AM - Sep 14, 2019( )


The Dow posted an eighth consecutive session of gains amid further signs of de-escalation in the U.S.-China trade war. While the S&P 500 and Nasdaq ended Friday’s session lower, all three major indices posted weekly advances for a third straight week. The Dow Jones Industrial Average rose 37.07 points, or 0.14%, at 27,219.52, but the S&P 500 fell 2.18 points, or 0.07%, to 3,007.39, and the Nasdaq Composite Index retreated 17.75 points, or 0.2% to 8176.71.

05:42 IST


From: yatheendradas c.k. at 05:45 AM - Sep 14, 2019( )


Oil prices edged lower on Friday and posted weekly losses, as concerns about slowed global economic growth outweighed hints of progress in the U.S.-China trade dispute. Brent crude futures fell 16 cents  or 0.22% to settle at $60.22 a barrel. U.S. West Texas Intermediate crude futures delivery fell 24 cents or 0.44% to end at $54.85 a barrel.

05:45  IST

New Thread: Quotations from The Bhagavad Gita

Yatheendradas C.k. at 05:20 AM - Sep 14, 2019 ( )

 

Whatever you do, make it an offering to me—the food you eat, the sacrifices you make, the help you give, even your suffering.


—The Bhagavad Gita

New Thread: India’s exports fall over 6 pct in August

Yatheendradas C.k. at 10:45 PM - Sep 13, 2019 ( )

India’s exports fall over 6 pct in August, imports drop much more; trade deficit narrows
By: PTI | Updated: September 13, 2019 8:47:53 PM  The Financial Express
Imports too declined by 13.45 percent to $39.58 billion, narrowing trade deficit to $13.45 billion in August.

India’s exports dropped by 6.05 per cent to $26.13 billion in August mainly on account of significant dip in shipments from key sectors such as petroleum, engineering, leather, and gems & jewellery.

Imports too declined by 13.45 per cent to USD 39.58 billion, narrowing trade deficit to $13.45 billion in August, according to the government data released on Friday.


The imports during the month slipped the most after August 2016, when it had contracted by 14 per cent.

The trade deficit stood at $17.92 billion in August 2018.

Out of 30 key sectors, as many as 22 showed negative growth in August.

Shipments of gems and jewellery, engineering goods, and petroleum products contracted by 3.5 per cent, 9.35 per cent and 10.73 per cent, respectively.

The sectors which recorded positive growth in the last month include iron ore, electronic goods, spices, and marine products.

The country’s outbound shipments have remained subdued so far this year. It will have implications on the overall economic growth, which has reported over six-year low growth of 5 per cent in the first quarter of the current fiscal.

India’s industrial production growth too slowed to 4.3 per cent in July, dragged mainly by manufacturing sector’s poor show, according to a government data.

Commerce Minister Piyush Goyal yesterday said India will have to achieve $ one trillion exports in the next five years, and for this there is a need to increase domestic production and improve competitiveness.

In August, oil imports declined by 8.9 per cent to $10.88 billion, and non-oil imports fell by 15 per cent to $28.71 billion.

Cumulatively, during April-August 2019, exports were down 1.53 per cent to $133.54 billion, while imports contracted by 5.68 per cent to $206.39 billion.

Gold imports plunged 62.49 per cent to $1.36 billion in the month.

Commenting on the figures, Ludhiana-based exporter S C Ralhan said this is the right time for the government to announce incentives.

“Merchandise export from India scheme (MEIS) should not be withdrawn. The government must start thinking that EPCG (export promotion for capital goods) policy should be simplified to promote manufacturing and import of machines under EPCG should not have any export obligation for manufacturer exporters,” Ralhan said.

 

Council for Leather Exports (CLE) Chairman Panaruna Aqeel Ahmed said this could be a temporary phenomena and the exports would start growing in the coming months.

“We are eagerly waiting for an export package,” Ahmed said.


Federation of Indian Export Organisations (FIEO) President Sharad Kumar Saraf said that such a contraction in exports is a reflection of uncertainties, sluggish global demand and rising tariff war.

“Domestic issues including access to credit, cost of credit especially for merchant exporters, interest equalization support to all agri-exports, and quick refund of GST should be seriously looked into,” he said.

New Thread: IMF on India’s economic growth

Yatheendradas C.k. at 10:43 PM - Sep 13, 2019 ( )

IMF on India’s economic growth: It’s ‘much weaker’ than expected; lists these 3 key concerns
By: FE Online | Published: September 13, 2019 11:56:59 AM
Amid concerns on slowdown, IMF (International Monetary Fund) said that India’s economic growth is ‘much weaker’ than expected owing to a host of factors including uncertainty in the corporate and environmental regulations.

Amid concerns on slowdown,  IMF (International Monetary Fund) said that  India’s economic growth is ‘much weaker’ than expected owing to a host of factors including uncertainty in the corporate and environmental regulations. It comes at a time when the country’s GDP recorded a dismal 5 per cent growth in the first quarter of FY20, mainly on account of weakness in the manufacturing sector. The growth stands at a six-year low with the previous low posted at 4.3 per cent in March 2013. “Again, we will have a fresh set of numbers coming up, but the recent economic growth in India is much weaker than expected, mainly due to corporate and environmental regulatory uncertainty and lingering weakness in some non-bank financial companies and risks to the outlook are tilted to the downside, as we like to say,” IMF spokesman Gerry Rice said on Thursday.

The IMF has reduced its projection for India’s economic growth by 0.3 percentage points to 7 per cent for the fiscal year 2019-20. Even as the domestic consumption sees muted growth for sometime now, the private sector has asked for a stimulus package from the Modi government to boost it. Finance Minister Nirmala Sitharaman has even announced a slew of reforms to provide support to the sluggish economy.

Also read: First time this fiscal, RBI turns net seller of dollars in July

Meanwhile, former Prime Minister Manmohan Singh said in an interview to a Hindi daily that demonetisation and hastily implemented GST (goods and services tax) are the key reasons behind the ongoing slowdown. The eminent economist also said that the GST was introduced at a time when the economy was already recovering from the negative effects of the demonetisation and this hit the economy. Several leading brokerages have also revised their projections on India’s growth for FY20 downwards.

New Thread: FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 10:38 PM - Sep 13, 2019 ( )

The finance ministry has called a review meeting with PSB heads next week to discuss transmission of repo rate cuts and availability of liquidity for NBFCs amid concerns over economic slowdown.Finance secretary Rajiv Kumar will chair the meet on Sep 19 in New Delhi.
-Economic Times

 A panel set up by the RBI has suggested that the IBA introduce a web portal on the lines of 'PSB Loans in 59 Minutes' to allow quicker credit access for the agriculture sector. “IBA should come out with a technology driven portal for the banks to facilitate ease of credit to the farmers for agriculture and allied activities on the lines of 'PSB Loans In 59 Minutes to MSMEs'," said the report of the Internal Working Group to Review Agricultural Credit, released today.
-Livemint

The RBI increased loan exposure limit of banks to a single NBFC (excluding gold loan companies) from 15% to 20% of its capital base, a move that will help increase credit supply to the crisis-ridden shadow banking sector.
-Financial Express

Banks will be able to lend more to customers for buying consumer products such as mobile phones, home appliances, two-wheelers and three-wheelers, with the RBI cutting the risk weight for consumer credit to 100% from 125%.
-Business Line

Canara Bank board today gave in-principle approval to its merger with Syndicate Bank. The board also gave nod to capital  infusion of up to Rs 9000 Cr by the Govt for preferential allotment of equity shares of the bank to the it.
-Financial Express

Oriental Bank of Commerce’s Board will meet on September 18 to consider proposal for approval of amalgamation of the bank with Punjab National Bank, Mukesh Kumar Jain, MD & CEO, Oriental Bank of Commerce told.
-Business Line

Bank of Baroda, in a regulatory filing, said today its capital raising committee will meet next week to consider raising funds through bonds.
-Business Line

Syndicate Bank has donated ₹1 Cr towards Karnataka CM’s Flood Relief and Natural Calamity Fund.
-Business Line

The popularity of BHIM payment app is multiplying, when compared to other digital payment modes as per the data presented by the Ministry of Electronics and IT. Only 4.41% of the total digital transactions were made through this app in 2017-18, while in 2018-19, it rose to 17.8%.
-Business Line

The Interpol has issued a Red Corner Notice against Nehal Modi, a step brother of Nirav Modi, the prime accused in the USD 2 billion PNB scam case, officials said today. They said the global arrest warrant against the Belgian national Nehal Modi, 40, has been issued on charges of alleged  money laundering being probed by the Enforcement Directorate.
-Economic Times

The IMF has cut its projection for India's economic growth by 0.3% points to 7% the fiscal year 2019- 20 owing to the "weaker-than-expected outlook" for the domestic demand.
-Economic Times

The World Bank  will provide Rs 3,000 Cr funds to finance mini and mega food parks across the country, particularly in Northeast, and help boost farmers' income, Union Minister  Rameswar Teli said today.
-Economic Times

The Employees' Provident Fund Organisation (EPFO) has launched an e-nomination facility for EPF members. As per a circular dated Sep 12, this facility can be used by members whose Aadhaar is linked and verified on the member sewa portal.
-Economic Times

India's exports  dropped by 6.05% to USD 26.13 billion in August compared to the year-ago month, official data released today showed. Imports too declined by 13.45% to USD 39.58 billion, narrowing trade deficit to USD 13.45 billion in August. The deficit was USD 17.92 billion in Aug last year.
-Economic Times

USD/INR 70.92
Sensex 37384.99
Nifty 11075.9

New Thread: Sensex, Nifty may open higher

Yatheendradas C.k. at 08:54 AM - Sep 13, 2019 ( )

Share Market Today | Live: Sensex, Nifty may open higher; IndiGo, SBI Life among shares in focus
By: FE Online | Updated:Sep 13, 2019 8:46:38 am
Share Market News| Live: The headline indices Sensex and Nifty are likely to open higher on Fridy morning, tracking mixed global cues.
The SGX Nifty was trading 10 points up at 11,002 indicating a positive opening for Sensex and Nifty.
Share Market Today News | Live Updates: The headline indices Sensex and Nifty are likely to open higher on Fridy morning, tracking mixed global cues. The SGX Nifty was trading 10 points up at 11,002 indicating a positive opening for Sensex and Nifty. Asian stocks advanced on Friday as hints of progress in the US-China trade dispute and aggressive stimulus from the European Central Bank helped to counter worries about a global economic slowdown. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2%, while Japan’s Nikkei rose 0.4%, Reuters reported. Shares or airlines Indigo, SpiceJet will assume focus, after news reports said that the govt will discuss the air fare environment and sustainability, amid ongoing fare war. SBI Life shares will be in focus, after its OFS was subscribed 2.7 times on first day. We bring to you live updates.


 

New Thread: Stocks which are in news today

Yatheendradas C.k. at 08:29 AM - Sep 13, 2019 ( )

Last Updated : Sep 13, 2019 08:09 AM IST | Source: Moneycontrol.com
Stocks in the news: Dr Reddy's Labs, PNB, SBI, PVR, Oriental Bank, DHFL, L&T Finance
Dr Reddy's Labs | PNB | State Bank of India | PVR | Oriental Bank of Commerce | DHFL | L&T Finance Holdings are the stocks which are in news today.
Moneycontrol News@moneycontrolcom.

Here are the stocks which are in news today:

Dr Reddy's Labs: The company said it has received an EIR from the USFDA, indicating the closure of the audit of its formulations manufacturing plants at Duvvada, Visakhapatnam, which was completed on June 21, 2019.

Biocon: The company said it has signed a license and supply agreement with a subsidiary of China Medical System Holdings for three generic formulation products.

 
Punjab National Bank: Punjab National Bank said CARE Ratings has placed the ratings of its bonds on "credit watch with developing implications".

 

State Bank of India: State Bank Of India has informed the exchange regarding an offer for sale of equity shares of SBI Life Insurance Company.

Coffee Day Enterprises: The exchange has sought clarification from the company with respect to recent news item captioned ICRA Cuts Rating Of Coffee Day's Long-Term Loans. The response from the Company is awaited.

International Paper APPM: ICICI Securities has informed the exchange regarding an open offer for the acquisition of up to 99,42,510 fully paid-up equity shares of face value of Rs 10 each from the public Shareholders of International Paper APPM.


PVR: The exchange has sought clarification from the company with respect to recent news item captioned PVR, NY Cinemas probed for not passing on GST perks. The response from the Company is awaited.

Oriental Bank Of Commerce: CARE Ratings has revised the rating outlook of Tier I & II Bonds from "stable" to "under credit watch with developing implications".

Shirpur Gold Refinery: CRISIL and CARE Rating has downgraded the company's long term and short term ratings to 'D'.

Adani Ports: Lien on 74 lakh promoter shares released on September 6 & 7.

Adani Transmission: Lien on 2.96 percent promoter stake released on September 6,7 & 11.

Dewan Housing Finance: The company defaulted on payment of interest & principal on NCDs worth Rs 197 crore.

L&T Finance Holdings: The company will consider raising up to Rs 150 crore via preference shares.

New Thread: July IIP up 4.3%, August inflation at 3.21%

Yatheendradas C.k. at 08:25 AM - Sep 13, 2019 ( )

Comforting numbers: July IIP up 4.3%, August inflation at 3.21%
By: FE Bureau | Updated: September 13, 2019 7:00:10 AM
Consumer durables shrank for a second consecutive month, mirroring the drop in sales of automobiles, among others, and indicating a decline in urban demand.

Industrial production beat analysts’ expectations to grow at 4.3% in July from just 1.2% in the previous month, while retail inflation inched up by just 6 basis points sequentially to hit 3.21% in August, offering some comfort to policy-makers, as they struggle to spur faltering economic growth by reversing a collapse in private demand.

Data released by the Central Statistics Organisation on Thursday showed capital goods output, although notorious for volatility, contracted for a seventh straight month through July, suggesting investments were still in doldrums. Consumer durables shrank for a second consecutive month, mirroring the drop in sales of automobiles, among others, and indicating a decline in urban demand. But what augurs well for the fragile consumption story is that July’s consumer non-durables output rose 8.3%, the highest since October 2018 and compared with June’s 7.1%.


However, analysts are still guarded about predicting a meaningful recovery in consumption any time soon, and instead choose to wait until the festive season is over.

However, policymakers can draw some comfort from the fact that manufacturing grew 4.2% in July even on an unfavourable base (it had grown 7% in July 2018). Mining rose 4.9% in July, against 3.4% a year earlier, while electricity growth touched 4.8%, compared with 6.6% in the same period last year. Given that economic growth has plunged to a six-year low of 5% in the June quarter and inflation remains below the Reserve Bank of India’s (RBI’s) target of 4% for thirteen months in a row, some analysts expect another rate cut by the monetary policy committee in its next meeting in October. The MPC has already trimmed the benchmark lending rate by a total of 110 basis points in four rounds in 2019.

Food inflation, although still under 3%, has witnessed consistent rise since December last year and is expected to inch up further in the coming months, partly due to unfavourable base effect. Deflation/subdued food inflation has blunted the negative impact of sticky core inflation on the headline CPI since early 2018.

Aditi Nayar, principal economist at ICRA, said while the late surge in monsoon rains has substantially narrowed the gap in kharif sowing with the last year’s level, the flooding in certain areas has led to a continued rise in the prices of vegetables such as onions. “This, in conjunction with an unfavourable base effect, is likely to contribute to a hardening of food inflation in the ongoing months,” she said. “We continue to expect the MPC to reduce the repo rate by 15-25 bps in the October 2019 policy review, given the continuing concerns related to economic growth,” she added.

DK Pant, chief economist at India Ratings, said continued double digit growth of intermediate goods growth in last three months and 3.5% growth in primary goods in July give the impression of a minor industrial recovery in coming months. “However, it will be too early to term this as recovery and one has to wait for some more time and completion of forthcoming festive season to judge whether the industrial recovery is there for real. In the past we had seen the pattern of some industrial revival and then collapse in industrial recovery.”

New Thread: India Inc revenue growth in Q1 skids

Yatheendradas C.k. at 06:46 AM - Sep 13, 2019 ( )

India Inc revenue growth in Q1 skids to 11-quarter low of 5.7%
Our Bureau  Mumbai | Updated on September 12, 2019  Published on September 12, 2019 

BUSINESS LINE

Weak consumer sentiment, subdued spend on infrastructure taking a toll: ICRA Ratings
Weak consumer sentiment, along with a slowdown in the infrastructure sector and softening commodity prices have slowed revenue growth for the corporate sector to its slowest pace in 11 quarters.

The cumulative revenue growth of 642 companies in the Indian corporate sector skid to 5.7 per cent in the first quarter of FY 2020, mainly due to weak consumer sentiment and subdued government spending on infrastructure.

ICRA Ratings says the financial results of its sample companies were reflected in sequential contraction of 7.7 per cent in revenue from consumer-oriented sectors.

Additionally, demand from the infrastructure segment was down, with government spending on infrastructure projects reducing in the run-up to the general elections. This was reflected in the sharp slowdown in growth in GFCF (gross fixed capital formation) during the fourth quarter of the last fiscal year and the first quarter of the current fiscal year to 3.6 per cent and 4 per cent, respectively.

The EBITDA margin, however, reflects an optical improvement of 136 basis points on a Y-o-Y basis and remained flat sequentially at 17.7 per cent in Q1 FY2020.

Transition to Ind AS 116
“This was largely on account of the transition to Ind AS 116, whereby operating leases have been capitalised by companies, thereby reducing rental costs and increasing depreciation and interest outgo. PBT margins, on the other hand, contracted on a Y-o-Y basis by 114 bps to 7.8 per cent and improved sequentially,”ICRA said in a press release.


 Shamsher Dewan, Vice-President & Sector Head — Corporate Sector Ratings, ICRA, said: “The weakness in the consumer-linked sectors has been visible in multiple sectors. Automobile sales reported a sharp double-digit decline, which has continued into the current quarter as well, while FMCG companies reported a sequential slowdown in volume growth in both rural and urban markets. However, bucking the trend, companies in the consumer durables sector reported growth during the quarter on the back of sales of cooling products due to the extended and harsh summer.” he added.

Sector-specific trends
In terms of sector-specific trends, consumer-linked sectors such as automobiles and FMCG reported weakening demand. The declining consumption in rural India and the overall slowdown in the economy have led to plummeting year-on-year volume growth for FMCG companies in the first quarter of this financial year.

“The performance (of FMCG companies) has been mixed, as most companies have seen a quarter-on-quarter and year-on-year decline in volume growth.

“Rural demand, which was growing at 1.5x urban growth, has come in line with the urban growth or in some cases is growing below urban growth... Volume growth has been softening, more so in the past two quarters and the trend is across the board for most companies,” Amnish Aggarwal, Head of Research at Prabhudas Lilladher Pvt Ltd had recently told BusinessLine.

Cement demand falls
According to Crisil, cement demand this fiscal is set to more than halve to 5.5 per cent from the 12 per cent logged last year, largely due to lower spending by the government which, accounts for about 40 per cent of the demand.

This apart, the real estate sector, which adds up to 5-8 per cent of demand, has been hit by the liquidity crunch, labour shortage, sand and water availability in key states.

All India cement demand fell 2 per cent in the first quarter of this fiscal year with the East and the North logging a fall of 4-5 per cent and 1.5 per cent, respectively.

For the auto sector, the pain continues unabated even in the ongoing quarter, with passenger vehicle sales getting battered in July and August, according to Society of Indian Automobile Manufacturers (SIAM) data.

Overall passenger vehicle sales were at a 19-year low in July. Car sales were the worst hit in August, declining by 41 per cent year-on-year (YoY) to 1,15,957 units against 1,96,847 units in the same month last year.
 
Published on September 12, 2019

New Thread: Market has little interest in several large-caps

Yatheendradas C.k. at 06:42 AM - Sep 13, 2019 ( )

Equity investment: Market has little interest in several large-cap stocks
Published: September 13, 2019 3:20:11 AM  The Financial Express 
The cheap valuations of several large-cap. private and PSU stocks underscore the market’s disinterest in certain ‘value’ stocks even as the same market is prepared to pay super-rich multiples for ‘quality’ stocks.

The low valuations of many large-cap private and PSU stocks suggest that the market is not excited about their prospects. However, it would appear that even their majority shareholders (promoters) have an indifferent view of the valuations as most have hardly made any attempts to address the market’s concerns (real or perceived). This is quite odd as the companies/promoters will require the support of capital markets given their funding and leverage issues.

The cheap valuations of several large-cap. private and PSU stocks underscore the market’s disinterest in certain ‘value’ stocks even as the same market is prepared to pay super-rich multiples for ‘quality’ stocks. We attribute the lack of interest to (1) ESG-related concerns and (2) nature of the businesses (global commodity businesses for example). Companies can do little about the nature of their businesses but the benefits of the right ESG practices should be obvious to the majority shareholders of all companies irrespective of their underlying businesses. Hence, we are quite puzzled by the approach of the companies.


Continuous de-rating over time

We note that the valuations of the ‘value’ category of stocks have gone from fair to inexpensive to super-cheap over time. However, the majority shareholders and companies have done little to engage with minority shareholders to reverse the ‘downgrades’. This is even more puzzling as several of these companies or their majority shareholders will require the support of capital markets to raise (1) new capital to fund expansions or acquisitions; several operate in capital-intensive businesses, (2) new capital to deleverage balance sheets; several operate in deep cyclical businesses and (3) funds for the government’s divestment programme.

We would assume that all owners would desire higher shareholder wealth although we have wondered about it at times given the shenanigans of certain companies. For the PSUs, the government has to refocus its priorities—(1) continued majority ownership in the companies with low potential divestment revenues or (2) privatisation of the companies to raise much larger amounts of funds to fulfill bigger objectives. For the private companies, the majority shareholders/managements may want to engage with minority shareholders on ESG concerns or even look at selling their companies to realize the right value for all shareholders.

Govt’s rethink of divestment

The market will view any review of current divestment methodology favorably. It sees continued government ownership as a negative from a governance standpoint, as the current process has not resulted in better governance of the companies. The government is reportedly exploring strategic sale of certain PSUs.


We believe it should not restrict strategic sale to loss making ones only but extend it to profitable PSUs too. Lastly, it may simply want to bring down its ownership to below 50% by divestment to institutional and retail investors. In fact, an exclusive sale to retail investors only will puncture any employee or political opposition to such stake sales; after all Indian citizens and taxpayers are the ultimate owners of the PSUs.

Edited extracts from Kotak Institutional Equities Research report.

New Thread: GLOBAL MARKETS TREND

Yatheendradas C.k. at 05:54 AM - Sep 13, 2019 ( )

European stocks got a boost on Thursday after the European Central Bank cut its deposit rate and pledged open-ended asset buying, in a bid to lift the ailing regional economy.The Stoxx Europe 600  went from flat to a gain of 0.4% to 390.48. The German DAX  rose 0.41% to 12410.25, the French CAC 40 rose 0.4% to 5642.86 and the U.K. FTSE 100 gained 0.09% to 7344.67.

05:54  IST


From: yatheendradas c.k. at 05:59 AM - Sep 13, 2019( )


Wall Street advanced on Thursday, and the S&P 500 hovered a hair’s breadth below its all-time high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank. The Dow Jones Industrial Average rose 45.41 points, or 0.17%, to close at 27,182.45, notching a seventh advance and the longest series of gains for the blue-chip index since an eight-session rally ended May 14, 2018, according to FactSet data. Meanwhile, the S&P 500 index added 8.64 points, or 0.29%, to finish at 3,009.57, while the Nasdaq Composite Index advanced 24.79 points, or 0.30%, to end at 8,194.47.

05:59  IST


From: yatheendradas c.k. at 06:05 AM - Sep 13, 2019( )


Oil prices fell about 1.5% on Thursday after a media report cast doubt on the possibility of an interim U.S.-China trade deal and as a meeting of the OPEC+ alliance yielded no decision on deepening crude supply cuts. West Texas Intermediate crude for October delivery  fell 66 cents, or 1.2%, to settle at $55.09 a barrel on the New York Mercantile Exchange. November Brent crude lost 43 cents, or 0.7%, to $60.38 a barrel on ICE Futures Europe.

06:59 IST


From: yatheendradas c.k. at 08:14 AM - Sep 13, 2019( )


Asian stocks advanced on today morning as hints of progress in the U.S.-China trade dispute and aggressive stimulus from the European Central Bank helped to counter worries about a global economic slowdown. Hong Kong's Hang Seng is up 0.06% , gaining ground after posting losses Thursday. Japan's Nikkei jumped 0.88%. Australia's ASX 200 is up 0.12%. Markets in China and South Korea are closed on today for holidays.

08:14  IST


From: yatheendradas c.k. at 08:21 AM - Sep 13, 2019( )


Oil futures fell on today morning as optimism over an end to the U.S.-China trade war faded, leaving prices set for a weekly loss after days of wild gyrations. Brent crude is down 20cents, or 0.33%, at $60.18 a barrel by 02.49 GMT, while U.S. West Texas Intermediate is off by 16 cents, or 0.29%, at $54.93.

08:20  IST


From: yatheendradas c.k. at 08:47 AM - Sep 13, 2019( )


The SGX Nifty Futures in Singapore Exchange is trading with a loss of 6.50 points or 0.06% at 10,985.00

 

08:47 IST


From: yatheendradas c.k. at 08:59 AM - Sep 13, 2019( )


Our Markets may open flat to positve today in line with the positive trend seen in othe Asian and Global Markets.

09:59  IST


From: yatheendradas c.k. at 03:16 PM - Sep 13, 2019( )


Asian stocks climbed to their highest in six weeks on today, as signs of progress in U.S.-China trade talks and aggressive stimulus from the European Central Bank helped to calm fears of a global economic slowdown. The markets finished broadly higher.. The Nikkei 225 is up 1.05% while Hong Kong's Hang Seng is up 0.83%. The ASX 2900 is up 0.21%. Markets in mainland China and South Korea are closed for public holidays.

15:15  IST


From: yatheendradas c.k. at 03:22 PM - Sep 13, 2019( )


European stocks are cautious today morning after aggressive ECB stimulus. The markets are trading mixed. The STOXX 600 is up 0.08%. The CAC 40 is up 0.28% while the DAX gains 0.24%. The FTSE 100 is off 0.26%.

15:21 IST

New Thread: Quotations from The Bhagavad Gita

Yatheendradas C.k. at 05:45 AM - Sep 13, 2019 ( )

 

We all have been for all time…and we shall be for all time…As the Spirit of our mortal body wanders on in childhood, and youth and old age, the Spirit wanders on to a new body: of this the sage has no doubts.


—The Bhagavad Gita

New Thread: FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 10:14 PM - Sep 12, 2019 ( )

The United Forum of Bank Unions (UBFU) has decided to launch a sustained programme of agitation against the proposed move of merger of public sector banks. “In order to show strong disapproval of the move, we would stage a mass dharna before Parliament at 10.30 am on Sep 20,” said Convenor, UFBU. A delegation of the UFBU would later meet FM Nirmala Sitharaman to hand over a memorandum seeking a review of the merger proposal. -Business Line


Four bank officers' unions ( AIBOC, AIBOA, INBOC and NOBO) have called a 2-day all India bank strike on Sept 26 & 27 protesting the Government's move to merge PSBs. They have also raised a 9-point charter of demand including expeditious wage revision. They have also threatened to observe indefinite strike from the second week of November. "Workmen unions will meet soon to decided the next course of action," Rajen Nagar, president at AIBEA, the largest bank union, said. -Economic Times


In connection with its meetings on IBA on wage revision and related issues, the UFBU has clarified its stance on the proposed performance-linked incentive scheme. The UFBU is of the view that the introduction of the performance-linked incentive scheme should be exclusively over and above the mutually agreed quantum in wage revision. -Business Line


Bank credit and deposits growth slowed to 10.24% and 9.73% to Rs 96.80 lakh crore and Rs 127.80 lakh crore, respectively, in the fortnight to August 30, show the latest RBI data. In the year-ago fortnight, advances were at Rs 87.80 lakh crore while deposits stood at Rs 116.46 lakh crore. -Financial Express


Expressing concerns over fall in export credit, Commerce and Industry Minister Piyush Goyal said the government will soon come out with guidelines on extending foreign exchange credit to exporters at affordable rates. -Economic Times


The Bank of Baroda (BoB) has put the erstwhile Dena Bank’s headquarters, located in Mumbai’s Bandra-Kurla Complex, on sale via e-auction. It has set a reserve price of ₹530 crore for the sale..This move comes in the backdrop of Dena Bank and Vijaya Bank merging with BoB, which came into effect from April 1, 2019. -Business Line


The SBI will revise service charges for deposits and withdrawal on Oct 1 which will encompass cash withdrawal, average monthly balance, deposits and withdrawals and will affect scores of customers in many ways. On maintenance of average monthly balance, starting Oct 1, SBI has reduced the minimum average monthly balance requirement for urban centers from Rs 5,000 to Rs 3,000. In semi-urban branches, account holder needs to maintain an average monthly balance of Rs 2,000. In rural branches, the minimum average monthly balance will be Rs 1,000. -Economic Times


ICICI Bank has taken a bite of the debt funding for India’s first Toll-Operate and Transfer (ToT) highway project by taking over about ₹2,000 crore from the original lender YES Bank. YES Bank had underwritten the entire debt portion of about ₹5,000 crore last August, helping the successful bidder to achieve financial closure for the project. Under the ToT  model, the right to collect user-fee or toll on selected national highway stretches built through public funding will be auctioned and assigned to a concessionaire for a period of 30 years against an upfront payment of a lump-sum amount to the government. -Business Line


Capital markets regulator SEBI today levied a total fine of ₹12 lakh on ICICI Bank and its compliance officer Sandeep Batra for disclosure lapses, including delayed disclosure of binding agreement signed with Bank of Rajasthan. -Livemint


Trying to assuage employee concerns on retrenchment as part of the upcoming merger, Punjab National Bank’s chief executive ruled out any VRS proposal for the staff and said employees from United Bank of India and Oriental Bank of Commerce could even get foreign postings. -Livemint


Industrial production growth slipped to 4.3% in July, mainly on account of poor show by the manufacturing sector, according to official data released today. Factory output, as measured in terms of Index of Industrial Production (IIP), had expanded 6.5% in July 2018. -Business Standard


Retail inflation inched up to a 10-month high of 3.21% in August. Inflation based on the Consumer Price Index (CPI) stood at 3.15% in July and 3.69% in August 2018. -The Hindu


Former PM Manmohan Singh, an eminent economist himself, feels that the Central Government needs to come out of its habit of headline management and address the economic challenges which the country is facing today. “We cannot afford to deny that India is facing an economic crisis. Already, a lot of time has been lost. Instead of wasting its political capital by adopting a sector-wise piecemeal approach, or on monumental blunders like demonetisation, the time has now come for the government to carry out the next generation of structural reforms,” Singh told. -Business Line


Banking solutions provider Infosys Finacle today said the government's decision to merge several PSBs is a positive development and will not adversely impact its business. -Economic Times


Millennials opting for ride hailing services like Ola and Uber may not be that strong a factor for the current slowdown in auto sales and a detailed study is needed to arrive at any conclusion in the contrary, according to Executive Director Shashank Srivastava of the Maruti Suzuki India. -Economic Times


USD/INR 71.13

Sensex 37104.28(-166.54)

Nifty 10982.8 (-52.9)

New Thread: Bank credit growth slows to 10.24%

Yatheendradas C.k. at 09:43 PM - Sep 12, 2019 ( )

Bank credit growth slows to 10.24%, deposits at 9.73%
By: PTI | Updated: September 12, 2019 9:09:50 PM  The Financial Express
In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore

Bank credit and deposits growth slowed to 10.24 percent and 9.73 percent to Rs 96.80 lakh crore and Rs 127.80 lakh crore, respectively, in the fortnight to August 30, show the latest RBI data. In the year-ago fortnight, advances were at Rs 87.80 lakh crore while deposits stood at Rs 116.46 lakh crore.

In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore.


In July, the non-food bank credit rose 11.4 percent on year-on-year basis from 10.6 percent in July 2018. Advances to the services sector decelerated to 15.2 percent in the month from 23 percent in the year-ago month.

Credit to agriculture & allied activities rose 6.8 percent compared with an increase of 6.6 percent in the same month last year. Loans to industry rose 6.1 percent in July from 0.3 percent a year ago. Personal loans rose 17 percent in July compared to an increase of 16.7 percent in July 2018.

New Thread: Retail inflation inches up to 10-month high

Yatheendradas C.k. at 09:38 PM - Sep 12, 2019 ( )

Retail inflation inches up to 10-month high of 3.21% in August
PTI New Delhi | Updated on September 12, 2019  Published on September 12, 2019   BUSINESS LINE

Retail inflation inched up to a 10-month high of 3.21 per cent in August mainly due to higher prices of food items like meat and fish, vegetables and pulses, government data showed on Thursday. However, retail inflation is still within the Reserve Bank’s target range, thus keeping hopes of another rate cut alive.

Inflation based on the Consumer Price Index (CPI) stood at 3.15 per cent in July and 3.69 per cent in August 2018. The previous high was 3.38 per cent in October 2018. Inflation in the food basket was 2.99 per cent, up from 2.36 per cent in July.

The August data released by the National Statistics Office in the Ministry of Statistics and Programme Implementation also provided details of inflation in segments like ‘health’, ‘recreation and amusement’ and ‘personal care and effects’

The retail inflation in health was 7.84 per cent, recreation and amusement 5.54 per cent and personal care and effects 6.38 per cent. Price rise in the ‘education’ segment was recorded at 6.10 per cent in August. Inflation in meat and fish basket was 8.51 per cent, pulses and products 6.94 per cent and vegetables 6.9 per cent.

The RBI, which mainly factors in CPI for arriving at its bi-monthly monetary policy, has been mandated by the government to ensure that inflation remains at 4 per cent, with deviation of 2 per cent on either side.

The central bank, which has already reduced the key policy rate four times in the current calendar year, is scheduled to announce its next bi-monthly monetary policy on October 4. The data also revealed that highest rate of inflation was witnessed in Assam at 5.79 per cent, followed by Karnataka (5.47 per cent) and Uttrakhand (5.28 per cent).

Interestingly, inflation was in the negative zone at (-) 0.42 per cent in Chandigarh. Inflation in rural areas of the country was at 2.18 per cent and 4.49 per cent in the urban areas in August.
 
Published on September 12, 2019
 
 
 

New Thread: Industrial output growth drops to 4.3% in July

Yatheendradas C.k. at 09:35 PM - Sep 12, 2019 ( )

Industrial output growth drops to 4.3% in July
PTI New Delhi | Updated on September 12, 2019  Published on September 12, 2019  BUSINESS LINE

The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago.
India’s industrial production growth slowed to 4.3 per cent in July, dragged mainly by manufacturing sector’s poor show, according to government data released on Thursday.

Factory output, as measured by the Index of Industrial Production (IIP), had expanded 6.5 per cent in July 2018. The industrial output growth was recorded at 1.2 per cent in June and 4.6 per cent in May this year.

According to data released by the Ministry of Statistics and Programme Implementation, industrial output grew at 3.3 per cent in April-July period this fiscal, down from 5.4 per cent growth in the same period a year ago.

Also read: Growth slowdown needs policy attention

The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago. Capital goods segment, which is a barometer of investment, saw a contraction of 7.1 per cent in July compared to 2.3 per cent rise a year ago.

Mining growth was 4.9 per cent in July as compared to 3.4 per cent in the same month last fiscal. The expansion in the power generation sector stood at 4.8 per cent in July, compared to 6.6 per cent a year earlier.

As per use-based classification, the growth rates in July 2019 over July 2018 are 3.5 per cent in primary goods, 13.9 per cent in intermediate goods and 2.1 per cent in infrastructure/construction goods. Consumer durables and consumer non-durables have recorded growth of (-) 2.7 per cent and 8.3 per cent, respectively.

In terms of industries, 13 out of 23 industry groups in the manufacturing sector have shown positive growth during July as compared to the same month a year ago.

The industry group ‘manufacture of food products’ has shown the highest positive growth of 23.4 per cent followed by 17.3 per cent in ‘manufacture of basic metals’ and 15 per cent in ‘manufacture of wearing apparel’

On the other hand, the industry group ‘manufacture of paper and paper products’ has shown the highest negative growth of (-) 15.4 per cent followed by (-) 13.3 per cent in ‘manufacture of motor vehicles, trailers and semi-trailers’ and (-) 10.9 per cent in ‘printing and reproduction of recorded media’, it added.
 
Published on September 12, 2019
 
 
 

New Thread: FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 11:21 AM - Sep 12, 2019 ( )

Crude:@$56.20(-2.09%) Brent:@$61.02(-2.18%) 
10 year US @1.746%(+0.11%) 
INR @71.6625/$ 
G SEC 2029 @6.6799%  

Economic Times:

1) The government is considering a fund that will provide guarantees for those who won’t otherwise be eligible for a housing loan, allowing them to borrow funds to acquire a home.It’s being envisaged as part of a package being prepared by the government to help the housing sector.

2) Adani Group submitted a bid for the ₹45,000-crore Indian Navy submarine project, taking other contenders by surprise for what is the largest ongoing Make-in-India initiative in the defence sector.

3) JSW Steel chairman Sajjan Jindal said his company will approach a higher court to seek immunity against claims arising from alleged money-laundering frauds at Bhushan Power and Steel,that Jindal has offered to buy for ₹19,700 crore.

4) Aug Output at JSW Steel Dips to 4-year Low.Crude steel production for the month fell 13% at 1.25 million tonnes, while production of flat steel, used for making cars, also fell by an identical margin to 0.85 million tonnes.

5) CG Power Fails to Secure ₹200-crore Working Capital.Banks not keen to lend as govt agencies step up probe into alleged wrongdoings in co.

Financial Express:

1) NCLAT has impleaded the market regulator SEBI as a party in a petition filed by Reliance Industries Ltd, which is seeking waiver in delisting procedure for Alok Industries.RIL has got debt-ridden Alok Industries in its fold after the Ahmedabad bench of NCLT approved its Rs 5,050-crore.

2) NHB will be allowed to go beyond its current role as re-financier to HFCs and pick up equity stakes in some of them, in a move that would significantly enhance these liquidity-starved entities’ ability to mobilise funds, including bank finance.

3) The Maharashtra Electricity Regulatory Commission validated Adani Power’s claim for compensatory tariff from state-owned discom Maharashtra State Electricity Distribution Company for additional costs incurred in supplying power from its 3,300 MW Tiroda plant, after the allocation of the Lohara coal block withdrawn due to environmental reasons.

4) Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.The bank has received bids from 12 “serious investors” for its stake in the HFC.

Business Line:

1) Bankers should refer stressed assets cases to the NCLT only if satisfactory resolution outside the Tribunal is not available.MoS for finance urges bankers to first look at out-of-court resolution.

2) IFC has signed a Memorandum of Understanding with the Finance Industry Development Council (FIDC),a representative body of asset and loan Financing NBFCs, to collaborate on training of NBFCs in the country.

3) Indian bonds attract $1.69-bn worth investments in August.India, South Korea win most foreign inflows into Asian bonds in August.

4) With the Reserve Bank of India mandating banks to link fresh retail and SME loans from October 1 to an external benchmark, the pressure is now on housing finance companies and non-banking finance companies to match the rates.HFCs await more clarity on external benchmark linked home loans.

Business Standard:

1) Ruias set to win back control of 1200 MW Mahan Power as ArcelorMittal bid falters.ArcelorMittal had made a non-binding bid of Rs 4,800 crore for the company in December last year.

2) NCLAT's nod to Sterling Biotech for settlement with lenders baffles experts.Legal experts say the order goes against the legislative intent of the IBC.

3) Increasing hurdles: Arbitration claims against NHAI on the rise.The NHAI's latest available annual report,shows the authority had 1,014 cases of arbitration.

4) Slowdown blues for electrical equipment industry as mega electrification drive under Saubhagya comes to an end.In Q1FY20, sales growth of transformers fell 7%, transmission lines 8%, capacitors by 29%.

5) SC seeks homebuyers, NBCC suggestion on Amrapali unsold inventory.Top court to next hear the matter on October 4, seeks govt suggestion on how GST will be charged.

Live Mint:

1) Dalmia Bharat Puts in Bid for Emami’s Cement Business.SALE may fetch Emami ₹6,000 cr, while Dalmia can get access to eastern markets.

2) Blackstone to invest Rs 15 bn in Allcargo unit to build warehouses in India.Allcargo's logistics division plans to build 5 million square feet of warehouses across India by 2021.

3) In a renewed push to cut India’s dependence on fossil fuels, the central government wants state-run companies to build massive clean energy parks at a cost of around $2 billion each, with built-in incentives to ensure states and operators are invested in the success of the parks.

4) Promoters of Apollo Hospitals Enterprise Ltd, are selling around five million shares through a secondary share sale, which could fetch ₹725 crore (approx $101 million), as the company’s promoters look to raise capital to pare debt

New Thread: Stocks which are in news today

Yatheendradas C.k. at 08:42 AM - Sep 12, 2019 ( )

Last Updated : Sep 12, 2019 08:23 AM IST | Source: Moneycontrol.com
Stocks in the news: Titan, L&T Finance, SBI Life, Reliance Nippon, Alkem Labs, Khadim
Titan Company | L&T Finance Holdings | SBI Life Insurance | Reliance Nippon | Alkem Labs | Khadim India are the stocks which are in news today.
Moneycontrol News@moneycontrolcom

Here are the stocks which are in news today:

Reliance Nippon Life Asset Management: The Exchange has sought clarification from Reliance Nippon Life Asset Management after a significant increase in volume in the shares of the company was observed. The response from the company is awaited.

Kridhan Infra: The company said its associate company Vijay Nirman Company Private Limited has secured an order, worth Rs 112 crore, for Bengaluru International Airport.

 
Sankheshwar Holding Company: The company infomed exchnages regarding the acquisition of shares of Nahar Capital & Financial Services through Inter-se transfer among the promoter group.

 
Alkem Laboratories: The company in a regulatory filing said the inspection of its manufacturing facility at St. Louis, Fenton Logistics Park, USA by the USFDA has now been closed. The cite was inspected from August 16, 2019 to August 22, 2019 and the company had received a Form 483, containing four observations.

Khadim India: The company said Namrata Ashok Chotrani, Non - Executive, Non - Independent Director of the company has resigned from the board of directors of the company due to personal reason, effective September 11.

Titan Company: ICRA has assigned "ICRA A1 +" rating on the company's commercial paper of worth Rs 900 crore.


Indo Count Industries: Rating agency CARE has downgraded the company's short term credit facilities from "CARE A1+" to "CARE A1". However, long term credit facilities were upgraded from "CARE AA-" (outlook: negative) to "CARE A+" with 'stable' outlook.

Dr Reddy's Laboratories: The company announced the launch of Fosaprepitant for Injection in the US market, approved by the US Food and Drug Administration (USFDA).

L&T Finance Holdings: The board of directors has approved the offer and issuance of up to 1,00,00,000 cumulative compulsorily redeemable non-convertible preference shares (CRPS) of the face value of Rs 100 on a private placement basis.

SBI Life Insurance: SBI's board approved divesting at least 3.5 percent stake in company via offer for sale.

Greenlam Industries: The expanded capacity of laminates at Nalagarh unit is now operational. Installed capacity for laminates becomes 15.62 million sheets per year.

Andhra Bank: To consider proposal of UBI, Corporation Bank & Co merger In Board Meet On September 13

SREI Infra: Brickwork Revises Co’s NCD ratings to A+ from AA; Outlook –ve

Apollo Hospitals: Promoters to sell 50 lakh shares (3.6 percent equity); to raise USD 101 million, floor price to sell shares set at Rs 1450/Share

Why the decision. Will miss you. 

Regards

Reply for: Bhagavad Gita Quotes

Yatheendradas C.k. at 09:42 AM - Sep 05, 2019 ( )

Thanks. Wish you a nice day

Dilip Nilekar at 08:39 AM - Sep 05, 2019 ( )

Happy Morning to you Yatheendradas ji !!

I agree with your suggestion. If it is permissible the head count  will be awelcome move. However, more than the  total member ship numbers the active ones will be a motivational factor

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 10:12 PM - May 30, 2019 ( )

Stocks traded slightly higher erasing earlier gains on Thursday morning as bond yields curbed a recent drop that sparked fears over the global economy slowing down. The Dow Jones Industrial Average added 0.11%, putting the index on course to snap two consecutive days of losses. The S&P 500 added 0.13%, led by gains in real-estate and technology shares. The technology-heavy Nasdaq Composite rose 0.21%.

22

Reply for: FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 06:10 AM - Mar 04, 2019 ( )

Our Markets are closed today on account of Maha Sivarathri.

Suresh Kotha at 05:15 AM - Mar 04, 2019 ( )

TODAY ANY HOlIDAY FOR STOCK MARKET ON A/C OF MAHA SIVA RATHRI

Reply for: Untimely demise of my mother

Yatheendradas C.k. at 09:04 AM - Jan 08, 2019 ( )

Heart felt condolances , Dear Alex. I pray for the departed soul to rest in peace

Reply for: MARKET OUTLOOK

Yatheendradas C.k. at 01:30 PM - Jan 05, 2019 ( )

Negative news will normally cause individuals to sell stocks, will translate to selling pressure and a decrease in stock price. or a positive news will normally cause individuals buy stocks  translate into buying pressure and an increase in stock price. I am afaraid, U.S markets are more  sensitive and impulsive to the news as the memories are short !!!! Unfornunatly, as you dobuted U.S. influence the Global Markets. Eg. Many markets were not effcted with Apple contraversy but repercucssions were felt in the markets all over the world. The so called developed nations have a hidden agenda to control markets of developing/third world countries.

 

Rakesh Padhi at 09:45 AM - Jan 05, 2019 ( )

US market does not move with any fundamentals. US market need a news everynight. For them yesterday economy was bad and today economy imporvide just because job report and some one from FED gave a statement. Not sure what on card next but we idiot indian follow there news based move is very disappointing. Is US market/new driving global market !!

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 10:18 PM - Dec 18, 2018 ( )

V r different !!!

 

Parsuvanath Jain at 03:19 PM - Dec 18, 2018 ( )

But Indian MKT is showing Streghth +++++

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 09:14 AM - Oct 17, 2018 ( )

Trends on SGX Nifty indicate a gap-up opening fof pur Markets furher the asian/globel nmarkets re alos higher a gain of 72.25 points or 0.69% percent. Nifty futures were trading around 10,584.75 level on the Singaporean Exchange.  Furher the asian/globel nmarkets re alos higher 

09:12 IST

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 09:18 AM - Oct 01, 2018 ( )

Sorry ,Market regulator Sebi deferred the October 1 deadline for the extension of trading hours 

 

Sanjeev Kumar at 09:08 AM - Oct 01, 2018 ( )

Sir kindly put some light on market timing as it has changed from today to onward

 

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 09:13 AM - Oct 01, 2018 ( )

 

Good news for equity derivatives traders, market regulator Securities and Exchange Board of India (Sebi) has allowed stock exchanges to extend timing of equity derivatives trading till 11:55 pm with effect from October 1, 2018.

Sanjeev Kumar at 09:08 AM - Oct 01, 2018 ( )

Sir kindly put some light on market timing as it has changed from today to onward

 

Markets can re-test Friday’s low  given liquidity and asset-liability mismatch concerns.  Derivatives and technical analysts feel the market could re-test lows of Friday.  Traders and investors wanting to hedge their risk from a falling market could do a bear put spread on  options expiring on September 27. Lets wait and watch the situation. 

 

 

 

 

 

Frequent negative news appearing about the air line !!!!!

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 09:05 AM - Aug 27, 2018 ( )

Our Markets are likely to open with a gap on Monday following positive trend seen in other Asian marketsand Global Marke Trends on SGX Nifty indicate a positive opening for the indexes in India

09:05 IST

Reply for: GLOBAL MARKETS TREND

Yatheendradas C.k. at 09:01 AM - Aug 27, 2018 ( )

SGX NIFTY Nifty futures were trading around 11,617- level UP 46.50 POINTS OR 40% on the Singaporean Exchange

08:59 IST

Reply for: Hexaware Technologies crashes 19%

Yatheendradas C.k. at 08:17 AM - Aug 27, 2018 ( )

Thaku Sri. Sudararajan

 

Threads by Yatheendradas C.k.
TitleDate
Saudi oil output cut in half after drones strike [1 ] Oil & Gas Sector 15 Sep, 2019
Quotations from The Bhagavad Gita [1 ] General Discussion 15 Sep, 2019
GLOBAL MARKETS TREND [1 ] General Discussion 14 Sep, 2019
Quotations from The Bhagavad Gita [1 ] General Discussion 14 Sep, 2019
India’s exports fall over 6 pct in August [1 ] General Discussion 13 Sep, 2019
IMF on India’s economic growth [1 ] General Discussion 13 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 13 Sep, 2019
Sensex, Nifty may open higher [1 ] Market Outlook 13 Sep, 2019
Stocks which are in news today [1 ] Market Outlook 13 Sep, 2019
July IIP up 4.3%, August inflation at 3.21% [1 ] General Discussion 13 Sep, 2019
India Inc revenue growth in Q1 skids [1 ] General Discussion 13 Sep, 2019
Market has little interest in several large-caps [1 ] General Discussion 13 Sep, 2019
GLOBAL MARKETS TREND [1 ] General Discussion 13 Sep, 2019
Quotations from The Bhagavad Gita [1 ] General Discussion 13 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 12 Sep, 2019
Bank credit growth slows to 10.24% [1 ] General Discussion 12 Sep, 2019
Retail inflation inches up to 10-month high [1 ] General Discussion 12 Sep, 2019
Industrial output growth drops to 4.3% in July [1 ] General Discussion 12 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 12 Sep, 2019
Stocks which are in news today [1 ] Market Outlook 12 Sep, 2019
GLOBAL MARKETS TREND [1 ] General Discussion 12 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 12 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 11 Sep, 2019
Credit Suisse downgrades India [1 ] General Discussion 11 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 11 Sep, 2019
Sensex, Nifty may open higher [1 ] Market Outlook 11 Sep, 2019
Stocks that are in news today [1 ] Market Outlook 11 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 11 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 10 Sep, 2019
GLOBAL MARKETS TREND [1 ] Market Outlook 10 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 09 Sep, 2019
Sensex, Nifty may open higher [1 ] Market Outlook 09 Sep, 2019
Stocks in the news today [1 ] Market Outlook 09 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 09 Sep, 2019
Markets to eye IIP, inflation data [1 ] Market Outlook 08 Sep, 2019
If Nifty closes above 11,150 initiate long [1 ] Market Outlook 08 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 08 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 07 Sep, 2019
GLOBAL MARKETS TREND [1 ] Market Outlook 07 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 07 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 06 Sep, 2019
Sensex, Nifty may open higher [1 ] Market Outlook 06 Sep, 2019
Stocks that are in news today [1 ] Market Outlook 06 Sep, 2019
Bhagavad Gita Quotes [1 ] General Discussion 06 Sep, 2019
GLOBAL MARKETS TREND [1 ] Market Outlook 05 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 05 Sep, 2019
FINANCIAL NEWS IN A NUTSHELL [1 ] General Discussion 05 Sep, 2019
Stocks in the news today [1 ] Market Outlook 05 Sep, 2019
Sensex, Nifty may open higher [1 ] Market Outlook 05 Sep, 2019
Bhagavad Gita Quotes [3 ] General Discussion 05 Sep, 2019
1 to 50 of 13075<< Previous Next