Stock Market News and Tips for Today

Karnataka High Court –

Admits appeal against United Spirits (USL)-Diageo Deal –

Declares sale transaction by United Breweries Holdings (UBHL) to Diageo void

Alert: Appeal was filed by creditors of UBHL –

All amounts deposited by UBHL to court to remain till wind-up done

Alert: UBHL had deposited Rs 250 crore with Karnataka HC

Alert: Creditors who appealed include BNP Paribas, IAE, ATR

Alert: Creditors who appealed include Rolls-Royce and Partners Finance

UBHL-Diageo sources say :

-To move Supreme Court against Karnataka High Court decision

-Co-operating with Karnataka High Court on procedure.

Vijay Mallya to CNBC-TV18

-Will take necessary steps to protect interests of company, Diageo

Infosys

-V Balakrishnan to resign company effective December 31

-Alert: V Balakrishnan was head of Infosys BPO and chairman of Infosys Lodestone

-Inducts UB Pravin Rao as whole-time director

-Inducts Kiran Mazumdar-Shaw as independent member of board

Infosys says

-Kris Gopalakrishnan to head BPO business on interim basis

-BG Srinivas to takeover as Lodestone chairman

Financial Technologies on Forward Markets Commission (FMC)

-order: -Order drawn up by FMC in a hasty manner

-Bombay High Court will now hear the case on January 8

-Alert: Financial Technologies moved Bombay High Court versus FMC's order on 'fit & proper'

Financial Technologies counsel says

-Financial Technologies has only 1 nominee on MCX board

-MCX Board is controlled by FMC nominees

-Principles of natural justice have been violated

SEBI issues show cause notice to Financial Technologies: Sources

-SEBI issues show cause notice post FMC order on fit & proper

-Alert: FMC pronounced Financial Technologies and 3 directors not fit & proper

-SEBI asks Financial Technologies to reply by December 26

IOC hikes petrol price by Rs 0.41/litre (excluding VAT)

-Government hikes dealers' commission on diesel by Rs 97/kL to Rs 1,186/kl with immediate effect

-Diesel price hiked by about 10 paise per litre as government raises dealers' commission

Larsen and Toubro says:

-L&T IDPL seeks FIPB nod for FDI

-Talks with global institutional investors for stake acquisition in L&T IDPL on

-Contemplating initial infusion of Rs 1,000 crore into L&T IDPL

-2nd tranche infusion to also be Rs 1,000 crore in L&T IDPL

ICICI Bank announces new scheme on home loans, cuts rate by 15 bps: Source

 -Interest rate on home loans up to Rs 75 lakh to be 10.25 percent

-Interest rate on home loans above Rs 75 lakh to be 10.50 percent

-New home loan scheme will be available till January 31

Other stocks and sectors that are in news today:

- Axis Bank to replace Jindal Steel on S&P BSE Sensex today

- Wipro signs pact with Europe's telecom operator Tele2 AB

-Tyre companies in Focus: Import duty on natural rubber hiked to Rs 30/kg from Rs 20/kg

 -Finance ministry directs bank to recover 10 percent on bad loans by fiscal end

-Commerce ministry wants to curb royalty payments to MMC parents

- GSK Pharma open offer opens on February 7, closes on February 21

- GAIL sets Jan deadline for firms to lift US LNG: FE

-DTC, GST unlikely before 2016: BS -Hospira now under US FDA lens: BS



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Stock Market News Today:SBI, OIL, Reliance.

Cabinet –Okays Reliance Industries (RIL) gas issue subject to company submitting bank guarantee -RIL can sell gas at new price from April 21, 2014 with riders -Cabinet rejects finance ministry demand to cap gas prices

Oil Minister Veerappa Moily says –No change needed in new gas formula w.r.t. spot prices -Cap/floor price need not be stipulated in gas pricing -RIL allowed to sell at new price after submitting bank guarantee (BG) -Allow Coal India to explore coal bed methane -RIL can sell D1, D3 gas at revised price subject to bank guarantee -Fertiliser, finance ministry to work out higher subsidy payout post gas price hike

Oil secretary says –Law ministry to decide final modalities, frequency of RIL bank guarantees -To notify new price formula as soon as cabinet meet minutes ready -Will sign a supplementary agreement with RIL on bank guarantee -RIL's D1 D3 gas shortfall till April 1, 2013 at 1 TCF -Disagree RIL bank guarantee can be over USD 9 billion -Fertiliser, finance ministry to work out higher subsidy payout post gas price hike

Power Grid to CNBC-TV18 -FPO subscribed 6 times; retail investors subscription at 2.2 times -Current capitalisation stands at Rs 8,000 crore -No need to raise equity in near future -Can expect a Rs 2,000-Rs 3,000 crore bond issue after few months -Marginal impact on CERC norms reducing availability -To ask CERC to reconsider availability incentive steps -May see impact of Rs 160 crore on back of CERC norms

SBI reduces home loan interest rates SBI says –Interest rates on home loans up to Rs 75 lakh to Be 10.15 percent -Interest rates on home loans above Rs 75 Lakh to be 10.30 percent -To offer 5 bps discount on home loans for women -New interest rates on home loans effective December 20 -Slab for lower interest rates raised from Rs 30 lakh to Rs 75 lakh

IDFC : -Seeks to cut foreign holding limit in company to 49.9 percent from 54 percent -To cut foreign holding limit to meet RBI bank licence norms -Foreign holding in company at 51.27 percent as on December 6 -To reinstate 74 percent foreign holding limit if no bank license given.

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Stock Market Latest News Today:SKS Microfinance Rose by 0.82% Today

SKS Micro finance inches up after completing securitization transaction

SKS Micro finance rose 0.82% to Rs 177.80 at 11:30 IST on BSE after the company said it has completed its third substantial micro finance securitization transaction of Rs 215 crore during current financial year.

The announcement was made before market hours today, 19 December 2013.

Meanwhile, the S&P BSE Sensex was down 157.41 points or 0.75% at 20,702.45.

On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 2.63 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.66% at the day's high of Rs 181.05 so far during the day. The stock lost as much as 0.65% at the day's low of Rs 175.20 so far during the day. The stock had hit a 52-week high of Rs 190.40 on 9 January 2013. The stock had hit a 52-week low of Rs 95.60 on 24 May 2013.

The stock had underperformed the market over the past one month till 18 December 2013, declining 3.74% compared with the Sensex's 0.04% rise. The scrip had, however, outperformed the market in past one quarter, jumping 31.95% as against Sensex's 4.5% rise.

The small-cap company has equity capital of Rs 108.21 crore. Face value per share is Rs 10.

Commenting on the development, S. Dilli Raj, Chief Financial Officer, SKS Microfinance said, "With this, the total sum of securitizations completed for FY 2014 (YTD) is Rs 616.81 crore. This transaction is priced at a good 200 basis points lower than our cost of borrowing for the previous quarter".

SKS Microfinance said it has downloaded the receivables from micro loans extended to more than 2,50,000 rural women entrepreneurs to a Special Purpose Vehicle, and Pass Through Certificates (PTCs) have been purchased by a major private sector bank. The entire pool qualifies for priority sector treatment as per RBI's priority sector lending guidelines, it added.

The pool is rated A + (SO) by a leading rating agency signifying 'adequate degree of safety regarding timely servicing of financial obligation'. Such instruments carry low credit risk, the company said in a statement. The pool is structured with geographical diversity as it comprises receivables from 14 non-Andhra Pradesh states and has been subjected to a seasoning of three months, it added.

SKS Microfinance reported net profit of Rs 16.34 crore in Q2 September 2013 as against net loss of Rs 262.16 crore in Q2 September 2012. Total income rose 67% to Rs 135.19 crore in Q2 September 2013 over Q2 September 2012.

SKS Microfinance is a non banking financial company – micro finance institution (NBFC-MFI), registered and regulated by the RBI, whose mission is to provide financial services to low-income households. SKS operates across 15 states of India. They include: Andhra Pradesh, Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala and Punjab.

CapitalHeight Provides Accurate Stock Tips/Share market tips with high accuracy.Stock Calls are given for NSE and BSE Stock Cash Traders with intense analysis done by our expert research Team. Our Expert teams provide you detail Technical and Fundamental analysis of the markets for Huge profit.