| Bombay Stock Exchange - BSE Related news |
Axis bank cuts base rate by 10 basis points; Stock up 1%
Posted on 17th October 2014 |
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Shares of India’s third-largest private sector lender, Axis Bank, are trading higher by 1% at Rs 389 on the BSE after it reduced its base rate by 10 basis points (bps) to 10.15 per cent on the back of a decline in cost of funds. The move comes despite the Reserve Bank of India (RBI) deciding to hold interest rates in the past four policy reviews, the last one being in September. |
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BSE Brokers’ Forum buys 3 lakh sq ft in GIFT city
Posted on 16th October 2014 |
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The Rs 70,000-crore ambitious Gujarat International Finance Tec-City (GIFT City) on Wednesday was handed over the allotment letter for the development of commercial tower for the members of BSE Brokers’ Forum. Gujarat finance minister Saurabh Patel handed over the letter to BSE Brokers’ Forum vice-chairman Alok Churiwala. |
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BSE, NSE closed due to Maharashtra assembly elections
Posted on 15th October 2014 |
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Indian markets are closed on Wednesday due to assembly elections in the western Maharashtra state. The benchmark BSE index fell 0.13 percent, or 34.74 points, to end at 26,349.33 on Tuesday. The broader NSE index lost 0.26 percent, or 20.25 points, to end at 7,864. |
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Reliance Industries gains post Q2 results
Posted on 14th October 2014 |
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Reliance Industries is trading higher by nearly 2% at Rs 973 on BSE in early morning deals after it reported a better-than-expected consolidated net profit at Rs 5,972 crore for the quarter ended September 2014 (Q2) on back of improved gross refining margins (GRMs) and lower input costs. The company had registered a profit of Rs 5,873 crore during the same quarter last fiscal. However, consolidated net sales declined 4.3% to Rs 113,396 crore from Rs 118,439 crore for the corresponding quarter of previous fiscal. |
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Bajaj Auto gains on BoA upgrade to 'buy'
Posted on 14th October 2014 |
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Bajaj Auto has gained around 3% after Bank of America-Merrill Lynch upgraded its stocks from "underperform" to "buy", citing higher volume and average selling prices, and increased contribution from dirt-bike making affiliate KTM. Bajaj Auto, which is going to announce its Q2 earnings later Tuesday, is expected to see its net profit grow by 3% on an annual basis, according to market analysts. |
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Petrol prices may fall by Re 1 a litre before Diwali
Posted on 14th October 2014 |
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NEW DELHI: Petrol prices are poised to fall to a 16-month low before Diwali as state oil firms plan to cut rates by about Re 1 a litre because the global oil market is in a bear phase, with Brent crude dropping more than 20 per cent since its June peak, government and industry sources said. The government, which regulates retail prices of diesel, is also considering cutting diesel prices as retailers are getting over Rs 3 per litre more than the market rate, sources said. State-run Indian Oil Corporation BSE -0.82 % ( IOC BSE -0.82 %), BPCL BSE -1.32 % and HPCL BSE -0.44 % are expected to hold a meeting this week to slash petrol prices. But, the decision on diesel price cut would require a Cabinet approval, which is expected after assembly elections, sources said. |
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BSE may launch climate change ETF soon
Posted on 14th October 2014 |
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BSE is in talks with asset managers to launch an exchange-traded fund (ETF), based on its climate change index in the next couple of years, chief executive Ashishkumar Chauhan said on Monday. BSE launched the S&P Carbonex index in 2012, centred on its popular BSE 100 index, giving increased weighting to companies depending on carbon footprint scores. |
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Sebi tells other sector regulators to promote investor awareness
Posted on 14th October 2014 |
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The Securities and Exchange Board of India (Sebi) wants other financial sector regulators to emulate its investor awareness and education initiatives. At a recent meeting of the Financial Stability and Development Council, apex body for financial sector development and regulation, it expressed concern over the lack of initiatives from its counterparts in investor education, said sources. Sebi is said to have told the others it had spent about Rs 40 crore on investor awareness programmes last year. And, that other regulatory bodies should begin spending more on this cause. |
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Infosys rallies 9% post Q2 earnings; stock hits new high
Posted on 13th October 2014 |
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Infosys is trading higher by nearly 2% at Rs 3,952, extending its Friday’s nearly 7% rally, after the company reported a better-than-expected consolidated net profit at Rs 3,096 crore for the second quarter ended September 30, 2014 (Q2) besides declaring 1:1 bonus. The stock opened at Rs 3,898 and hit new high of Rs 3,959 on National Stock Exchange (NSE). A combined 1.92 million shares changed hands on the counter so far on NSE and BSE. |
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HDFC Bank's ADR premium falls
Posted on 13th October 2014 |
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Foreign investors are anticipating a long-pending nod from the Foreign Investment Promotion Board (FIPB) for an increase in foreign investment limit in HDFC Bank, going by the recent narrowing in premiums. The premium between HDFC Bank's American Depositary Receipts (ADRs) and its local shares have seen a sharp reduction in the past month. |
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