Metal stocks may decline as an official survey showed activity in China's manufacturing sector contracted for a fifth straight month in December. The official manufacturing Purchasing Managers' Index (PMI) stood at 49.7 in December, in line with expectations and up only fractionally from November. A reading below 50 points suggests a contraction in activity, while a reading above indicates an expansion on a monthly basis. China is the world's largest consumer of steel, copper and aluminum.
PSU OMCs and auto stocks will be in focus after the PSU OMCs cut petrol price by 63 paise a litre and diesel price by Rs 1.06 a litre, the third reduction this month on the back of softening in global oil rates. The revised prices take effect from today, 1 January 2016.
Housing Development Finance Corporation (HDFC) announced after market hours yesterday, 31 December 2015, that the profit on sale of investments for the quarter ended 31 December 2015 was Rs 57 crore compared to Rs 113 crore in the corresponding quarter in the previous year. Income from dividend for the quarter ended 31 December 2015 was Rs 135 crore compared to Rs 103 crore in the corresponding quarter of the previous year, the company said in a statement.
HDFC, under the loan assignment route, sold loans amounting to Rs 1240 crore in the quarter ending 31 December 2015 to HDFC Bank compared to Rs 1234 crore during the corresponding quarter of the previous year. Loans sold in the preceding twelve months amounted to Rs 12975 crore, the company said.
KEC International announced before trading hours today, 1 January 2016, that it secured new orders worth Rs 1001 crore in its transmission & distribution, cables and solar businesses.
Canara Bank announced after market hours yesterday, 31 December 2015, that the bond committee has decided to raise Basel III Compliant Tier-II Bonds amounting to Rs 1500 crore by way of private placement. Accordingly, the bank has successfully raised Rs 1500 crore under Basel-III Compliant Tier-II Bonds on 31 December 2015 with a coupon of 8.40% per annum.
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Yes Bank announced after market hours yesterday, 31 December 2015, that it successfully raised Rs 1500 crore of Basel III compliant Tier II bonds. The issue closed on 31 December 2015. The issue was rated "ICRA AA+ hyb" by ICRA and "CARE AA+" by CARE. The bonds will be listed on the BSE.
Piramal Enterprises announced after market hours yesterday, 31 December 2015, that a meeting of the committee of directors (funding) of the company will be held on 5 January 2016 to consider and approve the issue of secured non-convertible debentures amounting upto Rs 500 crore.
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