Todays Market Nifty 8565.00 (+45.50) (+0.53%)

Sensex 27942.11 (+126.93) (+0.46%)

Power Finance Corp jumps after boards nod for bonus issue

The announcement was made during market hours today, 14 July 2016.

Meanwhile, the S&P BSE Sensex was up 131.24 points or 0.47% at 27,946.42.

The stock surged on heavy volumes. On BSE, so far 11.99 lakh shares were traded in the counter as against average daily volume of 1.98 lakh shares in the past one quarter. The stock hit a high of Rs 212.90 and a low of Rs 200.15 so far during the day. The stock had hit a 52-week high of Rs 270.60 on 21 July 2015. The stock had hit a 52-week low of Rs 140.40 on 17 February 2016. The stock had outperformed the market over the past one month till 13 July 2016, surging 25.26% compared with 5.37% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 16.97% as against Sensexs 8.54% rise.

The large-cap company has equity capital of Rs 1320.04 crore. Face value per share is Rs 10.

Power Finance Corporations (PFC) net profit declined 19.3% to Rs 1259.65 crore on 5.7% growth in total income to Rs 6786.99 crore in Q4 March 2016 over Q4 March 2015.

State-run PFCs main business is to provide finance to the power sector. Government of India (GoI) currently holds 67.8% stake in PFC (as per the shareholding pattern as on 31 March 2016).

Todays Market Nifty 8521.05 (+53.15) (+0.63%)

Sensex 27808.14 (+181.45) (+0.66%)

IDFC Bank jumps after acquisition

The announcement was made during trading hours today, 12 July 2016.

Meanwhile, the BSE Sensex was up 181.45 points, or 0.66%, to 27,808.14.

On BSE, so far 41.51 lakh shares were traded in the counter, compared with an average volume of 11.07 lakh shares in the past one quarter. The stock hit a high of Rs 53.90 and a low of Rs 48.15 so far during the day. The stock hit a record high of Rs 73.45 on 6 November 2015. The stock hit a record low of Rs 43.15 on 21 January 2016. The stock had underperformed the market over the past one month till 11 July 2016, rising 1.26% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.99% as against Sensexs 10.41% rise.

The large-cap company has an equity capital of Rs 3394.90 crore. Face value per share is Rs 10. Shares of IDFC Bank listed on the stock exchanges on 6 November 2015.

IDFC Bank signed a share purchase agreement to acquire 100% of Grama Vidiyal Micro Finance, one of the largest microfinance institutions in the country. Upon completion of acquisition, Grama Vidiyal will be a wholly-owned subsidiary of IDFC Bank.

Grama Vidiyal will act as a dedicated Business Correspondent of IDFC Bank, and will help deepen reach and widen the delivery mechanism for banking services. The move enables IDFC Bank to significantly enhance its network and reach and make basic banking services available to a large customer base.

The acquisition will give IDFC Bank immediate access to 1.2 million rural and semi-urban households and Grama Vidiyals network of 319 locations across 65 districts of Tamil Nadu, Kerala, Karnataka, Pondicherry, Maharashtra, Gujarat and Madhya Pradesh will act as BC centres to IDFC Bank. Current customer households of Grama Vidiyal, in turn, will benefit from IDFC Banks full range of liability products, customised credit offerings, innovative digital services and doorstep banking.

The 30-year-old, Tamil Nadu-headquartered Grama Vidiyal has an AUM (Assets Under Management) of Rs 1502 crore of micro finance assets, as on 31 March 2016. All loan assets on the book will be transferred to IDFC Bank.

Grama Vidiyals employee base of over 3000, with an understanding of the needs of local communities, will represent IDFC Bank, in their branch locations. Members of Grama Vidiyal will use IDFC Banks innovative and inter-operable Micro ATM, which functions like a n++Bank-in-a-Boxn++, allowing customers as well as non-customers to transact from the comfort of their homes and neighbourhoods. In addition to Grama Vidiyals existing locations, IDFC Bank plans to set up new bank branches in areas where Grama Vidiyals presence is concentrated to complement and support the BC operations.

IDFC Bank reported net profit of Rs 165.06 crore on operating income of Rs 1953.20 crore in Q4 March 2016.

IDFC Bank is a subsidiary of IDFC. The Reserve Bank of India (RBI) granted a universal banking license to IDFC on 23 July 2015. IDFC demerged on 1 October 2015, transferring all assets and liabilities of its lending business to IDFC Bank.

IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the countrys infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and microenterprises, entrepreneurs, financial institutions and the government

Todays Market Nifty 8467.90 (+144.70) (+1.74%)

Sensex 27626.69 (+499.79) (+1.84%)

Yes Bank allots equity shares

Yes Bank has allotted 69,646 (Sixty Nine Thousand Six Hundred and Forty Six) equity shares of face value of Rs. 10/- each on 09 July 2016 under the JESOP IV, JESOP V, PESOP I, PESOP II and PESOP II - 2010.

The paid up share capital of the Bank has accordingly been increased from Rs. 4,21,09,37,410 consisting of 42,10,93,741 equity shares of Rs. 10/- each to Rs. 4,21,16,33,870 consisting of 42,11,63,387 equity shares of Rs. 10/- each.

Todays Market Nifty 8323.20 (-14.70) (-0.18%)

Sensex 27126.90 (-74.59) (-0.27%)

PFC gains as board to mull bonus issue

The announcement was made during trading hours today, 8 July 2016.

Meanwhile, the BSE Sensex was down 62.21 points, or 0.23%, to 27,139.28.

On BSE, so far 8.46 lakh shares were traded in the counter, compared with average daily volume of 1.66 lakh shares in the past one quarter. The stock hit a high of Rs 196.25 and a low of Rs 181.80 so far during the day. The stock hit a 52-week high of Rs 270.60 on 21 July 2015. The stock hit a 52-week low of Rs 140.40 on 17 February 2016. The stock had outperformed the market over the past 30 days till 7 July 2016, rising 13.98% compared with 0.67% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.38% as against Sensexs 10.24% rise.

The large-cap company has an equity capital of Rs 1320.04 crore. Face value per share is Rs 10.

Power Finance Corporations (PFC) net profit declined 19.29% to Rs 1259.65 crore on 5.7% growth in total income to Rs 6786.99 crore in Q4 March 2016 over Q4 March 2015.

State-run PFCs main business is to provide finance to the power sector. Government of India (GoI) currently holds 67.8% stake in PFC (as per the shareholding pattern as on 31 March 2016).

RIL will be watched after Reliance Jio raises funds by issuing bonds

Reliance Industries (RIL) will be watched. Reliance Jio Infocomm (RJIL), a subsidiary of RIL, yesterday, 7 July 2016, issued Rs 2000 crore of 5 year Non-Convertible Debentures (NCDs), bearing a coupon of 8.32% per annum, payable annually. The issue has been assigned a rating of AAA by CRISIL and CRA. The proceeds of the issuance shall be utilized by RJIL for rolling out a digital services business in India. The announcement was made after market hours yesterday, 7 July 2016.n++

The transaction was fully subscribed within minutes of opening and was eventually over-subscribed with a total book size in excess of Rs 3500 crore, Reliance Jio said. Key investors include the prominent asset management companies and banks. Reliance Jio Infocomm is the first telecom operator to hold pan India Unified License. RJIL has created next-generation voice and broadband network which can be seamlessly upgraded even to 5G and beyond.

Bank of India said it raised Rs 1500 crore by issuing Basel-III compliant Tier II Bonds (Series-XII). The bonds have been rated as AA (+) by CRISIL and AA (+) by Brickwork and bear coupon rate of 8.57% per annum. The announcement was made after market hours yesterday, 7 July 2016.n++

Mahindra Holidays & Resorts said that its step-down subsidiary, Holiday Club Resorts Oy, Finland, has signed a joint venture (JV) agreement with City of Kuusamo for establishment of Tropiikin Rantasauna Oy. Holiday Club Resorts will hold 50% stake in Tropiikin. Shares worth 62500 euros will be acquired at the time of formation of Tropiikin, Mahindra Holidays & Resorts said. The announcement was made after market hours yesterday, 7 July 2016.n++

In a separate announcement after market hours yesterday, 7 July 2016, Mahindra Holidays & Resorts India said that Caribia Service Oy, Finland (Caribia), subsidiary of Holiday Club Resorts Oy, Finland, (HCR), a step-down subsidiary of the company, has been liquidated with effect from 4 July 2016. Consequently, Caribia ceased to be a subsidiary of HCR. In turn of the company and all the assets lying in its books were transferred to HCR being the sole shareholder of Caribia.

Sundaram Multi Pap said that its board has approved raising up to Rs 30 crore by issuing share warrants to the promoter and promoter group and by issuing fully paid up equity shares or issuing debentures by qualified institutional placements (QIP)/preferential issue. The announcement was made after market hours yesterday, 7 July 2016.n++

Indo Count Industriesn++announced that Indo Count Global, Inc, US announced a new licensing partnership with Walker Greenback PLC UK for three of its lifestyle brands viz. Sanderson, Harlequin and Scion. All three brands hava a particularly strong presence in UK and Australia and Indo Count said it recognized a gap in the North American market for this type of aesthetic. Indo Count said it will be launching new ranges for all three lifestyle brands this September during New York Home Textile Market Week. Indo Count added that it is targeting major retailers in the US market for all the three brands. The announcement was made after market hours yesterday, 7 July 2016.n++

Shares of Abbott India turn ex-dividend today, 8 July 2016, for final dividend of Rs 35 per share for the year ended 31 March 2016.

Shares of Cairn India turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Dewan Housing Finance Corporation turn ex-dividend today, 8 July 2016, for final dividend of Rs 2 per share for the year ended 31 March 2016.

Shares of MindTree turn ex-dividend today, 8 July 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016.

Shares of Tata Coffee turn ex-dividend today, 8 July 2016, for dividend of Rs 1.30 per share for the year ended 31 March 2016.