Vida Securities Services Pvt Ltd

NHAI Tax Free Bonds opens on 17-Dec-2015
Interest rates for Retail Individuals
10 yrs: 7.39% p.a.
15 yrs: 7.60%p.a.
0.25% less for Non Individuals.
Issuance in Physical and Demat mode
Allotment on First Cum First Serve Basis

“PFC Tax Free Secured Redeemable Non Convertible Bonds” - (FINAL TERM SHEET)

Particulars Power Finance Corporation Limited.

Issue Size Rs.700 Crores.

Issue Opening Date 5 Oct 2015

Issue Closing Date** 9 Oct 2015

Rating CRISIL AAA/ Stable’ by CRISIL, ‘[ICRA] AAA’ by ICRA,'CARE AAA’ by CARE

Minimum Application

Series of Bonds* Tranche 1 Series 1A Tranche 1 Series 2A Tranche 1 Series 3A

Tenure (in Years) 10 15 20

Coupon - Category I ,II, III 7.11% 7.27% 7.38%

Series of Bonds Tranche 1 Series 1B Tranche 1 Series 2B Tranche 1 Series3B

Coupon - Category IV 7.36% 7.52% 7.60%

Face Value of Bond Rs. 1000

Listing BSE.

Sensex up 303 pts, Nifty ends tad below 8600; banks rally

The market staged spectacular performance on first day of the financial year 2015-16. The Sensex rallied 302.65 points or 1.08 percent to 28260.14 and the Nifty climbed 95.25 points or 1.12 percent to 8586.25. Banks led the market higher ahead of RBI policy next week.

Source: Moneycontrol

Nifty ends below 8700; Bharti up 6%, Hindalco falls 4%

It as another volatile day at Dalal Street. The Sensex was down 50.70 points at 28659.17 and the Nifty slipped 12.10 points at 8699.95. About 1199 shares advanced, 1638 shares declined and 200 shares were unchanged.

Bharti Airtel was up 6 percent while NTPC, M&M, GAIL and HUL were top gainers in the Sensex. Among the losers were Hindalco, Sesa Sterlite, Cipla, Tata Steel and Tata Motors.

Source: Moneycontrol.com

Global cues drag Sensex 135pts; HDFC falls 4%, Bharti up 7%

The market extended losses in last hour of trade Tuesday with the Nifty breaking 8700-mark, dragged by index heavyweights like HDFC, Reliance Industries. However, the key indices trimmed losses towards the end.

The 30-share BSE Sensex fell as much as 260 points intraday, before showing recovery to close at 28709.87, down 134.91 points. The 50-share NSE Nifty declined 44.70 points to 8712.05 after hitting an intraday low of 8677.35.

Experts feel the market is in consolidation phase as major events are behind. They expect the correction to continue in near term.

Andrew Holland of Ambit Capital says there are many factors that can take market below 8500. He expects a tough few months for investors and also foresees a correction in global equities this year.

The broader markets followed the same trend too, the BSE Midcap and Smallcap indices lost 0.3-0.4 percent. Declining shares outnumbered advancing ones by a ratio of 1584 to 1261 on the Bombay Stock Exchange.

Meanwhile, the rupee fell further today, trading at fresh 2-month low of 62.73 a dollar, down 18 paise due to rise in dollar and increased demand for the dollar from importers.

Globally, global markets also had a weak session today despite the better than expected Chinese inflation data and positive lead from Wall Street. In Asia, major markets like Nikkei, Hang Seng and Shanghai were down 0.5-1 percent. European markets fell 0.6 percent (at 16 hours IST) on Greek tensions.

Back home, HDFC took the big knock among bluechips today, down 3.7 percent. Reliance Industries, HUL, Sun Pharma, Hindalco Industries, Tata Steel and Tata Power were other prominent losers on Sensex, down 1-2 percent.

Jindal Steel shed 2.4 percent as sources told CNBC-TV18 that nominated body appointed by government may examine bid process for 3 coal blocks, including Gare Palma IV/2 & 3 (allotted to company). Gare Palma IV/1 and Marki Mangli 3 were other two blocks.

Dr Reddy’s Labs fell 0.8 percent on profit booking. A media report quoting unnamed sources says Dr Reddy’s has been in talks to buy Indian unit of Belgium's UCB for USD 135 million.

However, telecom stocks saw huge buying interest as spectrum auction has reached last leg while bidding has closed for 900 mhz spectrum. Bharti Airtel was up 7 percent, and Idea Cellular & Reliance Communications jumped 2.5-3 percent as the day on day jump in bid prices for 900 mhz has fallen to 2 percent versus 5 percent earlier, raising hopes of some moderation in bidding.

Coal India climbed 4 percent, hoping coal price hikes for non-power consumers. CLSA maintains buy on the stock with a target price of Rs 435 apiece as the brokerage sees a decent possibility of a large price hike for non-power consumers in FY16, which would be a catalyst for the stock.

Mahindra & Mahindra was up 1.9 percent followed by Infosys, ICICI Bank, Bajaj Auto, Hero Motocorp with marginal gains.

In the broader space, KNR Constructions gained 5 percent on getting international orders worth Rs 515 crore.

Monnet Ispat climbed 9 percent as the company is looking to sell stake in its power and sponge business. Additionally the company’s power subsidiary won the Utkal C block for a negative bid price of Rs 770 per tonne.

Natco Pharma rallied 7 percent after the US Supreme Court denied petition for certiorari on Tamiflu patent. Hence, this is positive for Natco as this outcome will allow Natco to launch Tamiflu in the US markets earlier than expected. Natco is partnered with Alvogen in the USA for marketing of this product.

Source: Moneycontrol.com

Nifty ends above 8950, Midcap index at record closing high

3:30 pm Market closing: It was a stellar closing of market, a day after Budget. The Sensex ended up 97.64 points at 29459.14 and the Nifty was up 54.90 points at 8956.75.

Axis Bank, Cipla, L&T, BHEL and HUL were top gainers while ITC, Bajaj Auto, Bharti Airtel, Hero Motocorp and Tata Motors.
Midcaps was at record closing high with stocks like Muthoot Finance and Relaxo Footwear gaining 5-7 percent intrday.

3:10 pm European market check: European shares clung to seven-year highs on Monday, lifted by merger activity in the telecoms sector, while Asian stocks edged up after China cut interest rates at the weekend.

The dollar hit an 11-year high against a basket of currencies, partly as a result of a weaker Chinese yuan and on growing prospects of a rise in interest rates from the U.S. Federal Reserve.

German manufacturing activity expanded further in February as new order rose, according to Markit's final purchasing manager's index (PMI) for the month. Italy's Markit/ADACI PMI showed the first expansion in activity for five months.

2:55 pm Sales data: Tata Motors Monday reported 10.69 percent increase in total sales at 44,225 units in February, as against 39,951 units in the same month last year. Domestic sales of Tata commercial and passenger vehicles grew by 14.15 percent at 40,314 units as compared to 35,315 units in February 2014, Tata Motors said in a BSE filing.

Sales of passenger vehicles in the domestic market in February stood at 13,767 units, up 21.56 percent from 11,325 units in February 2014.

"The trend of growth in passenger vehicles continued with the strong Zest sales and good response to the all-new Bolt," the company said. In the commercial vehicles segment, domestic sales were at 26,547 units during the month, the company said.

2:30 pm Ratings: Ratings agency Standard & Poor's does not expect an upgrade to India's sovereign debt rating in the next year in the absence of substantial, quality reforms, it said on Monday, days after the government's budget slowed the pace of fiscal consolidation.

India needs to at least strengthen two of its macroeconomic metrics on growth, inflation and fiscal health, said Kim Eng Tan, Senior Director, Asia-Pacific Sovereign Ratings for Standard & Poor's.

"However, again, very big improvement is unlikely to come through in next year or so... We don't see the rating going up in the next year or so," Tan said. S&P currently rates India at "BBB-minus", its lowest investment grade rating, with a "stable" outlook.

Eicher Motors surges 3%, Royal Enfield sales up 49% in Feb

Shares of GMR Infra slipped 7 percent intraday. The board has agreed to raise Rs 1401.83 crore via rights issue. Issue price is finalised at Rs 15 per equity share. Earlier in July, the Bengaluru-based infrastructure had raised Rs 1477 crore through issuing shares to qualified institutional investors.

Source: MoneyControl

Sensex snaps 7-day rally, down 231 pts; BHEL jumps 5%

Market experts feel overall the market has been consolidating around 8800-8900 levels ahead of Budget (to be announced on February 28). Budget may decide the market trend from next month onwards, they say.

The market lost ground on Friday, for the first time in last eight sessions, especially ahead of Union Budget week. Profit booking in banking & financials, technology and select oil stocks dragged the market.

The 30-share BSE Sensex declined 230.86 points to 29231.41 and the 50-share NSE Nifty slipped 61.70 points to 8833.60. However, the broader markets outperformed benchmarks; the BSE Smallcap index gained 0.45 percent.

Market experts feel overall the market has been consolidating around 8800-8900 levels ahead of Budget (to be announced on February 28). Budget may decide the market trend from next month onwards, they say.

Nirmal Jain, chairman, IIFL says it is unlikely to see a big rally or crash in market till Budget.

Jain believes the government is moving in the right direction and all circumstances are conducive for a ‘historic’ Budget. Meanwhile, Tushar Pradhan of HSBC global asset management says markets across the world are witnessing major geopolitical risks, Budget will be keenly watched by foreign investors.

For the week, the Sensex gained 0.5 percent and Nifty rose 0.3 percent while the CNX Midcap index advanced 0.8 percent and BSE Smallcap climbed 1.7 percent.

Reliance Industries was the biggest loser on Sensex, down 3 percent. Shares of ICICI Bank, Infosys, HDFC, Larsen & Toubro, Bharti Airtel, Wipro, Maruti Suzuki and Tata Power were other prominent losers, falling 1-2.7 percent.

JSPL continued to be in focus for the second consecutive session today. The Naveen Jindal-led company failed to qualify to bid for the Gare Palma IV/1 coal block while the same company won Gare Palma IV/2 & 3 coal blocks yesterday (that pushed stock 25.6 percent higher yesterday). The stock lost 0.7 percent today.

However, state-run power equipment maker BHEL topped the buying list on Sensex, up 5.2 percent followed by FMCG major ITC with 1.8 percent upside.

In the broader space, SpiceJet surged 20 percent on CCI nod for Ajay Singh's takeover. Ajay Singh told CNBC-TV18 that the first tranche of money will come in by next week and the final tranche by April-end.

Mastek gained 8 percent as the software services provider says its subsidiary Majesco filed Form S-4 with SEC for listing on NYSE and for merger of Cover-All Tech with arm.

Aurobindo Pharma was up 3 percent after Bank of America Merrill Lynch reiterated its buy rating on the stock. The brokerage house sees 38 percent upside potential from current price level.

ITD Cementation shot up 19 percent on winning order worth Rs 2,168 crore from Bharat Mumbai Container Terminals Private Limited (BMCT), for dredging & reclamation works on part of the phase-1 development of fourth container terminal at JN Port, Mumbai.

About 1492 shares advanced while 1437 shares declined on the Bombay Stock Exchange.

On global front, European markets like France’s CAC and Germany’s DAX fell 0.5 percent amidst continued uncertainty over Greece. On data front, German producer prices showed further fall in January, leading to increased fears that region is falling into a deflationary spiral.

Source: Moneycontrol.com

Sensex up 142 pts; metals shine, JSPL top gainer on Nifty

Metals played a key role in today’s trade with the BSE Metal index climbing nearly 4 percent amid ongoing coal block e-auction.

The pre-Budget rally continued for the seventh consecutive session on Thursday as the frontline indices gradually are heading towards all-time highs. In afternoon, it was looking like a halt for six-day rally but late trade rebound pushed the indices higher for another session.

The 30-share BSE Sensex climbed 142.01 points to 29462.27 and the 50-share NSE Nifty rose 26.20 points to 8895.30 while the broader markets closed flat.

Though the market valuations look stretched at current levels, the pre-Budget rally may continue for a while, feel experts. However, there may be a big correction if Budget disappoints, they say.

“The investment case for India is a strong one at the moment,” says Ewen Cameron Watt of BlackRock.

According to him, the combination of declining oil prices and food prices has allowed inflation to come down, along with action taken by the government to deal with more structural long-term risks of inflation in turn that is allowing RBI to start to finally lower rates. He thinks that is a very positive background, particularly with the slow but gradual improvement in the economy in India.

Metals played a key role in today’s trade with the BSE Metal index climbing nearly 4 percent amid ongoing coal block e-auction. Jindal Steel & Power was the biggest gainer on Nifty, up 25.75 percent after the company won back its Gare Palma IV/2 and 3 blocks at Rs 108 per tonne in coal e-auction. The management told CNBC-TV18 that they can use coal from Gare Palma for other plants as well and additional merchant power sales can happen at coal e-auction prices.

Aditya Birla group firm Hindalco Industries won its second mine (in current e-auction) - the Gare Palma IV/5 mine in Chhattisgarh at Rs 3,502 per tonne today. The stock was up 2.7 percent. Among other metals stocks, Tata Steel gained 2.3 percent and Sesa Sterlite jumped 7 percent. Coal India gained 1 percent.

Shares of HDFC, Infosys, Larsen & Toubro, TCS, Mahindra & Mahindra, Bharti Airtel, Tata Power and Coal India advanced 1-2.5 percent. However, ICICI Bank, ITC, Tata Motors, State Bank of India, Axis Bank, Wipro and HUL saw profit booking, down 0.5-1 percent.

Cement companies such as ACC, Ambuja Cements and UltraTech Cement were down 0.7-2.3 percent, possibly reacting to Road & Transport Minister Nitin Gadkari's comments yesterday that alleged carterlisation by cement companies. Ambuja Cements was also reacting to a weak set of earnings in Q4.

In the broader space, Bharat Forge gained 2 percent after the Kalyani Group announced a defense tie up with Dassault Rafale. The forging company also signed a multi-year contract with Boeing Commercial Airplane to supply titanium forgings for wing components for the Next-Generation 737 and 737 MAX yesterday.

National Fertiliser, FACT and RCF gained 2-5 percent as in a bid to make the cost of fuel uniform & affordable, the oil ministry proposed to pool gas for fertiliser plants.

Tata Motors DVR, Jain Irrigation DVR and Future Retail DVR rallied 2-7 percent after S&P BSE announced rules for considering DVRs in all BSE indices. It will consider including DVRs in Sensex, BSE 100, BSE 200, BSE 500 when indices are rebalanced in June.

GVK Power lost fell 3 percent after the company lost Toki-Sud north block to Essar Power at Rs 1,110 per tonne, which was the most aggressive bid seen in the regulated sector.

The market breadth was weak as about 1381 shares advanced and 1509 shares declined on the Bombay Stock Exchange.

Source: Moneycontrol.com

Wishing all Happy Diwali & Prosperous Year Ahead

Diwali bash for 4th day, Sensex soars 212 pts; Auto up 3%

Auto stocks topped the buying list among sectoral indices, up 3 percent as Hero Motocorp rallied 4 percent.

Dalal Street celebrated Diwali on Wednesday as the Sensex added more than 200 points and the Nifty closed tad below the 8000-mark supported by auto, capital goods and healthcare stocks.

Experts believe this bumper Diwali celebration will continue in next Diwali as well, on hopes of more reforms and ex*****on of these reforms from the Modi government going ahead.

According to Ramesh Damani, Member of BSE, the market is currently in a firm ‘bull grip’ and he is optimistic on the trend to continue for the next few Diwalis.

Samir Arora, Founder & Fund Manager of Helios Capital too thinks the rally is big and in for a longer duration while Sunil Garg of JPMorgan expects India to outperform all other emerging markets for the next 6-12 months.

Equity benchmarks gained for the fourth consecutive session with the 30-share BSE Sensex rising 211.58 points or 0.80 percent to close at 26787.23. The 50-share NSE Nifty hit an intraday high of 8005, before closing at 7995.90, up 68.15 points or 0.86 percent.

Auto stocks topped the buying list among sectoral indices, up 3 percent as Hero Motocorp rallied 4 percent.

Source : Money Control

Nifty gains for 3rd day, ends above 7900; Wipro surges 3%

The market rallied for the third consecutive session on Tuesday with the benchmark Nifty closing above the 7900 level supported by banks, metals, auto and capital goods stocks.

The 30-share BSE Sensex rose 145.80 points to close at 26575.65 and the 50-share NSE Nifty climbed 48.35 points to 7927.75. Even the BSE Midcap and Smallcap close higher, up 0.9 percent and 0.2 percent, respectively.

After looking at the kind of reforms announced by the government in last two days, experts expect the market to continue its upward trajectory in the days to come.

The Sunday election results, then the couple of announcements that have come about for the coal as well as the diesel deregulation and the gas price hike, I think that changes the pace completely as far as the reforms are concerned, believe Nipun Mehta, founder and chief executive officer, Blue Ocean Capital Advisors.

He feels there are going to be more expectations now coming in from the government between now and the finance budget about four months away.

Meanwhile, in a move to decide the fate of coal blocks that were de-allocated by the Supreme Court recently, the government on Monday proposed an ordinance to allow e-auction of mines to private players while adding that state-run companies would be allocated mines directly.

Auctioning of coal blocks in the next 3-4 months will be a positive for the industry, said Ravi Uppal, CEO and MD of Jindal Steel & Power (JSPL).

JSPL rallied more than 7 percent followed by Sesa Sterlite with 4.4 percent gains. Tata Steel and Hindalco Industries climbed over a percent.

Capital goods majors BHEL, and Larsen and Toubro rallied 4.3 percent and 1 percent, respectively. Gail India was also one of the top five gainers, up 4.4 percent.

Top private sector lender ICICI Bank surged 2.6 percent while rival Axis Bank rose 1.3 percent and State Bank of India was up 0.7 percent. Tata Motors rose 1.5 percent as its subsidiary (British luxury carmaker) Jaguar Land Rover expects its China sales to grow 20 percent this year.

Software services exporter Wipro climbed 3 percent ahead of earnings. CNBC-TV18 poll expects dollar revenue to jump 2.45 percent sequentially to USD 1783 million in September quarter.

Shares of Bharti Airtel, Maruti Suzuki, NTPC and Hero Motocorp jumped 2-3 percent. However, ONGC and M&M dropped 2.5 percent. Reliance Industries, Infosys and Sun Pharma fell 0.5-1 percent.

Coal India slipped 1.6 percent after the Cabinet recommended promulgation of an ordinance that will deal with the process of coal mine allocation of deallocated blocks. Investors of the state-run company are concerned that about the enabling clause within the ordinance that will allow commercial players in the coal mining business, once okayed. It is said this provision will serve as a threat to Coal India to ramp up its production.

Earnings

HDFC Bank closed flat post second quarter earnings met street expectations. The bank’s Q2 profit rose 20 percent on higher NII and other income year-on-year and asset quality was stable.

But public sector lender Punjab National Bank fell 2.6 percent on lower than expected second quarter earnings. Profit grew 14 percent compared to estimates of 142 percent jump and asset quality deteriorated further with the gross non-performing assets rising sequentially (up 51 basis points Y-o-Y) to 5.65 percent from 5.48 percent.

South Indian Bank dropped nearly 4 percent as the private sector lender’s second quarter net profit fell 40 percent year-on-year to Rs 76.3 crore dented by sharp jump in provisions.

JSW Steel gained nearly 3 percent on beating street expectations on all parameters in second quarter earnings. The steel maker turned profitable, reporting consolidated net at Rs 748.7 crore as against loss of Rs 115.5 crore in the year-ago period.

In the midcap space, PTC India Financial, Kalyani Steel, TVS Motor, PFC, Hexaware, SAIL, Apollo Tyres, BGR Energy, REC and Arvind surged 3-7 percent.

However, Finacial Technologies tanked 20 percent after the government issued draft order for merger of NSEL with company, saying the entire business of NSEL will be transferred to Financial Technologies. Finance Technologies was not in favour of NSEL's merger with company.

Helios and Matheson, Suzlon, Exide Industries, Jindal Saw, Zee Media and HCL Info were down 3-20 percent.

Source: Money Control

Govt reforms, FIIs to keep mkt positive momentum going The benchmark indices are expected to open in green with the SGX Nifty trading at 7922, up 20 points around 8:00 hrs. ..