Equity Weekly Research Report By Ways2Capital 16th Mar 15

The Securities Appellate Tribunal announced its order in favour of DLF Ltd today, according to a media report. DLF had filed a plea to SAT against a Sebi ruling that barred the realtor and its six top executives, including chairman K P Singh
By: Ways2Capital
 
INDORE, India - March 18, 2015 - PRLog -- NSE WEEKLY NEWS UPDATE

✍SEBI not justified condemning DLF in conducting biz, says SAT

The Securities Appellate Tribunal announced its order in favour of DLF Ltd today, according to a media report. DLF had filed a plea to SAT against a Sebi ruling that barred the realtor and its six top executives, including chairman K P Singh, from markets for three years. The SAT today reduced the DLF's three-year ban from capital market to six months, the report added. The SEBI order was quashed by SAT via 2:1 majority. SAT said that no shortcoming was found in DLF's IPO prospectus. The Appellate body further said that adequate disclosures were made by DLF in 2007 IPO. SAT said that SEBI should not be influenced by whistleblowers. DLF said that the ruling is a big relief for the company.

✍Ratan Tata to invest in Paytm

Ratan Tata has put his weight behind mobile payments and commerce venture Paytm, and is picking up stake in One97 Communications, which owns and operates Paytm. He will also take up role as an adviser in the Delhi-based firm, according to media reports. This is not the first investment by Ratan Tata in the digital world. Previously, he invested in Snapdeal, Urban Ladder, Bluestone and Car Dekho. Regarding the investment, an official statement from Paytm's chief said, "I am very happy that Mr Tata has put faith and trust in our values and mission. There is no better advisor for Paytm on building India's most trusted mobile payment and commerce platform." Paytm also received funding of $200 million from Ant Financial, Alibaba's payments firm, which was used to better its mobile platform. The company already has 25 million active wallets and has ambition to build 100 million wallets by this year end. They are now doing close to $1billion gross merchandise value from their mobile app. This year, they have set an ambitious target of $4billion GMV.

✍Adhunik Metaliks extends rally, up 7%

Adhunik Metaliks is trading on a firm note on the BSE for the third straight day. Today, the stock opened with a surge of 4 per cent at Rs. 23.70. So far, the stock has soared 12.5  per cent from its previous close to touch a high of Rs. 25.65. In the process, the stock has galloped 40.5 per cent in last three sessions on takeover buzz of its  power subsidiary. However, the company informed the BSE that it is not aware of such event as reported in the news  report. The stock is now up 7.2 per cent at Rs. 24.45. So far, 314,000 shares are traded on the BSE, as  against two-week daily average volume of 191,000 shares.

✍Noida Toll Bridge Board declares Interim Dividend; up 3%

Shares of Noida Toll Bridge Company Ltd were trading higher 3% at Rs. 36 on BSE today. The company has approved an Interim Dividend of 10 % (Re. 1.00/- per Equity Share of Rs. 10/- each) to the Equity Shareholders of the Company, for the Financial Year 2014- 2015. The stock opened at Rs.35.20 as against the previous close of Rs.34.75 on BSE. It has hit a high of Rs.36 and a low of Rs.34.50 on BSE today. Total traded quantity on the counter stood at over 1.09 lk shares on BSE.

✍Jindal Stainless slips on profit booking

Jindal Stainless is trading on a weak note on the back of profit taking at higher level.Yesterday, the stock zoomed 11.4 per cent on the media reports that the government is seeking anti-dumping tax on some stainless steel imports from China. The stock has galloped 27 per cent in last three trading sessions. The stock today opened with a surge of 3 per cent at Rs. 46.20 - which is also recorded as the highest point of the day. However, the stock could not hold gains and has tumbled 8.6 per cent from day's high to a low of  Rs. 42.20 as traders booked some bit of profit. Now, the stock is down 4.6 per cent at Rs. 42.65. The BSE counter has registered trades of around 2,41,000 shares, when compared with two-week daily average volume of 428,000 shares.

✍JSW Steel slips 1.4% on crude steel production

Shares of JSW Steel Ltd were trading lower 1.4% at Rs.939 on BSE today. The company has reported crude steel production for the month of February 2015 at 9.47 lakh tonnes compared to 9.63 lakh tonnes in February 2014, registering a decline of 2%. The production for flat rolled products stood at 7.51 lakh tonnes in February 2015 compared to 7.99 lakh tonnes in February 2014, registering a decline of 6%. The production of long rolled products decreased by 4% to 1.48 lakh tonnes in February 2015 compared to 1.53 lakh tonnes in February 2014. The stock opened at Rs.960 as against the previous close of Rs.953 on BSE. It has hit a high of Rs.960 and a low of Rs.935 on BSE today. Total traded quantity on the counter stood at over 0.24 lk shares on BSE.

✍Reliance Capital to begin talks with foreign players for insurance biz

Following passage of Insurance Bill in the Parliament, Reliance Capital today said it would soon begin talks with foreign partners for its insurance ventures, according to a media report. Reliance Capital's unit Reliance Life Insurance already has Japan's Nippon Life as a foreign partner with 26 per cent stake. The Rajya Sabha on Thursday passed the Insurance Laws (Amendment) Bill, 2015. Earlier on Wednesday March 4, the Lok Sabha had passed the Insurance Bill to increase foreign investment limit in local insurers to 49 percent from 26 percent. Reliance Capital also expects to close deals for bringing in new partners for its general and health insurance businesses soon, the report further said.
The company said that the Insurance Bill, which was passed yesterday in the Parliament, will help the cash-strap industry attract more investment and expand the insurance penetration across the country.

✍CEAT slips 1.3% on BSE on speculation of rise in import duty of rubber

CEAT is trading lower on the BSE on the media reports that the government is planning to hike the import duty on rubber. The stock so far has tumbled to a low of Rs. 777 and now is down 1.3 per cent at Rs. 779. The BSE counter has seen trades of around 16,000 shares, as against two-week daily average volume of 95,000 shares.

✍GSFC spurts 2%, secures approval to increase production of neem-coated urea

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