Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell. Asian stocks were trading mixed today, 5 December 2014 ahead of the monthly nonfarm payrolls report for November to be declared later in the global day today, 5 December 2014.
Axis Bank announced after market hours yesterday, 4 December 2014, that it has closed its senior unsecured redeemable non-convertible debenture issue of amount Rs 5705 crore and priced at 8.85% per annum payable annually maturing on 5 December 2024. The NCD's are rated AAA by CRISIL and ICRA. The NCDs shall be allotted to eligible investors on 5 December 2014. The NCDs are issued in Indian rupees at a fixed coupon and the proceeds shall be utilized for enhancing long term resources for funding infrastructure and affordable housing.
NTPC will be in focus after the Minister of State for Power, Coal & New and Renewable Energy (Independent Charge) Piyush Goyal yesterday, 4 December 2014, said in a written reply to a question in the Lok Sabha that NTPC proposes to increase its existing power generation capacity three fold by 2032. The present power generation capacity of NTPC (including JVs and its subsidiaries) is 43,128 megawatts (MW). Goyal said that as per its long-term corporate plan, NTPC plans to have an installed capacity of 1.28 lakh MW by 2032. Over 9% of this capacity is expected to be based on renewable energy sources. In order to achieve its long-term plans, NTPC has signed power purchase agreements (PPAs) with state distribution utilities for over 1.03 lakh MW capacity and has also been allocated a 4,000 MW project under AP Reorganization Act, 2013. Out of this, 43,128 MW (including JVs and its subsidiaries) has been commissioned and 23,854 MW is under construction, Goyal said.
NMDC after market hours yesterday, 4 December 2014, announced a reduction in price of lump ore by Rs 200 a tonne to Rs 4,200 a tonne for the current month. The state-run iron ore miner reduced prices of fines by Rs 100 per tonne to Rs 3,060 per tonne. Production rose 10.03% to 19.08 million tonnes for the period April-November 2014, over the corresponding previous year period. Sales rose 7.69% to 19.88 million tonnes for the period April-November 2014, over the corresponding previous year period.
Steel Authority of India (Sail) announced after market hours yesterday, 4 December 2014, that the floor Price of the offer for sale (OFS) of the government's 5% stake in the firm has been fixed at Rs 83 per share. The floor price set for the OFS is at a discount of 2.75% to the closing price of Rs 85.35 on Thursday, 4 December 2014. The government on 3 December 2014, announced an offer for sale (OFS) of upto 20.65 crore equity shares or 5% stake in Sail through a sale on the separate window provided by the BSE and NSE today, 5 December 2014. As much as 10% of the offered shares have been reserved for retail investors, who can buy shares worth up to Rs 2 lakh in the share sale. Retail investors will be allocated shares at a discount of 5% to the bid price entered by them.
The Indian government intends to get the Insurance Laws Amendment Bill that seeks to enhance FDI limit in capital starved insurance sector passed during the winter session of parliament which began on 24 November 2014. The government is also likely to introduce the constitutional amendment bill for the goods & services tax in the winter session of parliament.
Rally in index heavyweight and cigarette major ITC took key benchmark indices higher yesterday, 4 December 2014. The S&P BSE Sensex jumped 120.11 points or 0.42% to settle at 28,562.82, its highest closing level since 28 November 2014.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 474 crore yesterday, 4 December 2014, as per provisional data.
Asian stocks were trading mixed today, 5 December 2014 ahead of the monthly nonfarm payrolls report for November to be declared later in the global day today, 5 December 2014. Key benchmark indices in China, Japan, South Korea and Taiwan were off by 0.08% to 0.97%. Key benchmark indices in Singapore, Hong Kong and Indonesia rose by 0.38% to 0.81%.
US stocks finished with small losses, yesterday, 4 December 2014 having, faded after jumping to intraday records in the early afternoon trade after the European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action but said the issue would be addressed early next year.
US government's monthly nonfarm payrolls report for November will be out later in the global day today, 5 December 2014.
European Central Bank President Mario Draghi said yesterday, 4 December 2014 the region's central bank will reassess stimulus next quarter. Draghi's comments damped speculation the central bank was poised to start a program of sovereign-debt purchases known as quantitative easing after policy makers kept interest rates unchanged.
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