Telecom stocks will be in focus after the Department of Telecommunications (DoT) on Friday, 9 January 2015, issued notice inviting applications (NIA) for auction of spectrum in 2100 MHz, 1800 MHz, 900 MHz and 800 MHz bands. The details of 2100 MHz bands would be announced later, the Ministry of Communications & Information Technology said a statement on Saturday, 10 January 2015. Spectrum has been put on offer in 15 service areas (SAs) in 1800MHz band, 17 SAs in 900MHz and 20 SAs in 800MHz band. The spectrum auction is scheduled to commence on 25 February, 2015 and will be conducted on-line. The validity of spectrum in this auction will be 20 years. The auction format is simultaneous, multiple-round ascending auction.
HDFC Bank will be in focus after the finance ministry on Friday, 9 January 2015, said a proposal related to foreign investment in HDFC Bank has been recommended for consideration of the Cabinet Committee on Economic Affairs (CCEA). HDFC Bank has sought approval from the government for issue of equity shares of the bank aggregating to an amount of Rs 10000 crore to NRIs/FIIs/FPIs subject to the aggregate foreign shareholding not exceeding 74% of the post issue paid up capital. Currently, there is a ban on purchases of shares of HDFC Bank by foreigners. The Reserve Bank of India (RBI) had 16 Dec 2013 notified that foreign share holding through foreign institutional investors (FIIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/foreign direct investment (FDI)/ADR/Global Depository Receipt (GDR) in HDFC Bank had crossed the overall limit of 49% of the bank's paid-up capital. Therefore, no further purchases of share of HDFC Bank would be allowed through stock exchanges in India on behalf of FII/NRI/PIO/FDI/ADR/GDRs, the RBI had said.
HDFC after market hours today, 9 January 2015, said that the company has concluded the sale of the balance 69.82 lakh equity shares of HDFC Standard Life Insurance Company (HDFC Life) at a price of Rs 105 per share. After the stake sale, HDFC now holds 71.42% stake in HDFC Standard Life Insurance Company. Earlier, HDFC had on 22 December 2014 announced that it had agreed to sell up to 1.89 crore equity shares of HDFC Life, representing 0.95% of the total issued and paid-up equity capital of HDFC Life, to the Azim Premji Trust at a price of Rs 105 per share. At that time, HDFC had announced the sale of the first tranche 1.19 crore shares of HDFC Life to the Azim Premji Trust.
Pfizer will be in focus as the shares allotted by the company pursuant to the merger of Wyeth with Pfizer are admitted for trading on the bourses today, 12 January 2015. A total of 1.59 crore shares of the company that were allotted to the shareholders of Wyeth will be admitted for trading on the bourses.
Tata Steel announced after market hours on Friday, 9 January 2015, that hot metal production rose 2.8% to 2.38 million tonnes in Q3 December 2014 over Q3 December 2013. Crude Steel production rose 5.6% to 2.29 million tonnes in Q3 December 2014 over Q3 December 2013. Saleable steel production was higher by 3.3% to 2.22 million tonnes in Q3 December 2014 over Q3 December 2013, Sales increased by 3.05% to 2.13 million tonnes in Q3 December 2014 over Q3 December 2013.
Titan Company will be in focus. In a clarification with regard to news item titled "Tanishq to open 25 'Mia' stores", Titan Company after market hours today, 9 January 2015, said that Mia is a sub-brand of Tanishq -- the jewellery division of the company. Mia is in existence in the market for over two years and the proposal to open 25 stores is part of the jewellery division's business plan. The company has opened quite a few Mia stores already in addition to Mia Shop-in-Shops and therefore this is not a new activity either, Titan said. Mia contributes a small percentage of the revenue of the jewellery business presently and therefore the management of the company does not view this development to be a material event for being classified as price sensitive information, Titan said.
Bajaj Corp after market hours on Friday, 9 January 2015 reported 43.78% rise in net profit to Rs 41.84 crore on 29.77% rise in total income from operations to Rs 205.79 crore in Q3 December 2014 over Q3 December 2013.
Escorts on Friday, 9 January 2015 launched 'Anti-Lift Tractor' built around the themes of driver safety and owner savings. The tractor made specifically for commercial haulage operators is available in two models: ALT 4000 and ALT 3500. This is ALT technology version 1, which the company is planning to extend further to newer versions 2 and 3 in the long run to bring even more safe, robust and efficient products for this growing segment. Escorts said. Aggressively priced new ALT 1 tractors come in 37 HP and 41 HP and shall be currently available in markets of Uttar Pradesh, Maharashtra, Madhya Pradesh, Andhra Pradesh, Chhattisgarh, Jharkhand and Bihar, the company said. The announcement was made after market hours on Friday, 9 January 2015.
Public sector banks (PSBs) will be in focus. The Reserve Bank of India (RBI) Deputy Governor R Gandhi reportedly said on Saturday, 10 January 2015, that dilution of government holding in PSBs may not be sufficient for meeting Basel III capital adequacy norms. Mr Gandhi was quoted as saying "Recently, it has been reported that the Government of India is contemplating scaling down their holdings in PSBs to 52%. This may not be sufficient to fully meet the capital needs of the PSBs under Basel III norms since the projections are based on minimum requirements. He added that the PSBs would have to chart out a clear capital raising plan over the next five years, reports suggested.
Kansai Nerolac Paints scheduled a board meeting on 30 January 2015 to consider stock split proposal of equity shares.
3i Infotech said on Saturday, 10 January 2015, that the company has allotted 7.69 lakh shares on 9 January 2015, against conversion of 5% foreign currency convertible bonds (FCCBs) of principal amount of $250,000 due 2017.
With respect to news article titled "Regulatory hurdle hits Kotak Group's plan to secure board seat on commodity bourse MCX," Multi Commodity Exchange of India clarified after market hours on Friday, 9 January 2015, that Kotak Mahindra Bank vide its letter dated 8 January 2015, has withdrawn, for the time being, its nomination for appointment of Mr Paul Parambi on the board. MCX said that the letter mentioned in the media is from regulator, Forward Markets Commission (FMC) seeking clarification on certain matters mentioned in the said letter with respect to the appointment of Mr Paul Parambi as a director on the board of the company as a nominee of Kotak Mahindra Bank. Pursuant to the FMC guidelines, any appointment on the board is subject to the approval of FMC. The regulator had sought clarification in the matter for taking appropriate view in this regard and the same was to be deliberated and considered by the board in its meeting before being responded to. The said letter is a communication between the regulator and the regulated entity and as such the company has no comments to offer on the same. The board took note of the facts as placed before it including the letter received from FMC.
Oriental Bank of Commerce announced after market hours on Friday, 9 January 2015, that the bank intends to raise additional tier 1 capital through private placement of Basel III compliant perpetual debt instruments for Rs 500 crore with an option to retain oversubscription of upto Rs 500 crore. The bonds have been rated "ICRA AA- (Hyb)" with stable outlook & CARE AA- by ICRA & CARE respectively.
Shilpi Cable Technologies said that the Board of Directors of the company at its meeting held on 9 January 2015, has considered and approved the preferential issue of warrants to the promoter upto 40 lakhs at the price calculated as per Sebi (Issue and Disclosure Requirements) Regulations, 2009. The company's Board of Directors also approved increase in authorized capital from Rs 100 crore to Rs 105 crore.
With respect to media reports titled Three NHPC power stations shut in a blow to disinvestment plans, NHPC after market hours on Friday, 9 January 2015 said that the three power stations namely Uri-II, Parbati-Ill and Teesta Low Dam 111 are under shutdown as on date. The Uri 11 Power Station is shut down due to fire in GSU transformer of Unit 2 leading to damage of all 400 KV XLPE cable resulted into stoppage of generation of the power station and the same was communicated to the exchange on 20 November 2014. Two units & one transmission line of URI II is expected to be restored by 31 March 2015, third unit by 2nd week of April 2015 and fourth unit & second transmission line by 3rd week of June 2015, NHPC said. The company said that URI II power station is covered under comprehensive insurance policy taken by the company and the loss of profit due to such incident is covered therein. Parbati III Power station is under planned shut down for the annual maintenance of all the four units simultaneously and likely to be restored by 2nd week of February 2015. Teesta Low Dam III is also under annual maintenance of all the four units along with HV testing of line breaker refurbished recently and expected to be restored by 15 January 2015, NHPC said.
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