Here are stocks that are in news today:
Adani Group may tie up with Foxconn for manufacturing electronics-Adani Group, Foxconn eyeing 4 electronics plans in India: ToI
Jet Airways shareholders okay USD 400 million fundraising-Etihad might invest in Jet Airways non-convertible debentures: BS
GMR Infra-Civil Aviation Ministry clears proposal for setting up second airport in NCR-Mahesh Sharma, minister of state for civil aviation, says GMR would be preferred to develop new airport: PTI
Hindustan Unilever (HUL) may let other firms use its mobile based marketing platform-Platform Kan Khahura Tesan is a fully advertiser funded entertainment on demand initiative: ET
KPIT Technologies says-Expect decline in revenue from intelligent transport solution business in Q1-Expect decline in overall revenue & profit in Q1 compared to Q4-Yearly outlook on products & platforms is positive
Accenture Q3 revenue at USD 7.8 billionAccenture says-See Q4 revenue in range of USD 7.45-USD 7.7 billion-Expect full-year revenue growth of 9-10 percent in local currency-Q4 outlook assumes forex impact of negative 10 percent (YoY)
Financial stability report:-Credit growth of PSU banks at 7.1 percent in March 2015 versus 8 percent in September 2014-Private banks’ credit growth at 18.7 percent in March 2015 versus 17.3 percent in September 2014-PSU banks continue to record the lowest capital adequacy ratio-Mining, iron & steel, textiles, infra & aviation are stressed sectors-Standard restructured advances during September 2014-March 2015 increased-SCBs' stressed advances at 11.1 percent in March 2015 versus 10.7 percent in September 2014-PSU banks’ stressed assets at 13.5 percent as of March 2015-Private banks’ stressed assets at 4.6 percent as of March 2015-Industry sector records highest level of stressed advances ratio at 17.9 percent-Services sector records stressed advances ratio of 7.5 percent-Retail sector records stressed advances ratio of 2 percent-Private banks' share in retail loans at 27.7 percent & 17.1 percent for PSU banks-Scheduled Commercial Banks' (SCBs) profits improved to 11.4 percent in FY15 from a decline of 14.1 percent in FY14-SCBs’ NII at 69.5 percent in FY15 versus 71.1 percent in FY14-Provisions of PSU banks at 3.3 percent as of March 2015-Provisions of private banks at 2 percent as of March 2015-PSU banks may record lowest capital adequacy ratio of 10.2 percent in FY16 versus 11.4 percent (YoY)-Return on Assets (RoA) of NBFCs at 2.2 percent in March 2015 versus 2.5 percent in September 2014-Certificates of deposit (CDs) issued by banks accounted for 40 percent of exposure of Rs 2.5 lakh crore-Banking sector raised Rs 2 lakh crore via CDs from insurance companies and AMCs in FY15-Greek issue, uncertainty over Fed rate hike triggers for financial market volatility-Domestic macroeconomic environment likely to improve in short to mid-term-Pricing pressures arising fm possible sub-normal monsoon remains a risk-Foreign portfolio flows into India have been strong last year-Unexpected changes in DMs’ monetary policy may slow down FII flows-Concerns remain over continued weakness in asset quality of banks-Deterioration in asset quality of SCBs may continue for few more quarters-PSU banks may have to bolster provisions for credit risk from present levels-Global economic recovery still seems to be far from being self-sustaining
Andhra Pradesh releases bid result for 2,400 MW power requirementAndhra Power bids:-Top 5 bidders include Adani Power, Jindal India Thermal Power, Essar Power-Lowest bid seen at Rs 4.27/unit by East Coast Power Company-Adani Power wins bid for 540 MW at Rs 4.49/unit-Jindal India Thermal Power wins bid for 374 MW at Rs 4.69/unit-Essar Power's Mahan unit wins 500 MW at Rs 4.83/unit
HDFC chairman Deepak Parekh to shareholders:-Renewed confidence defined in FY15, sentiment had never been stronger-Strong investor sentiment aided by a favourable macroeconomic environment-Lower crude oil prices helped rein in inflation, twin deficits-India stood out as a country with immense growth potential globally-Global economic outlook continues to remain challenging-Timing of hike in US interest rates remains uncertain-Natural investors will be edgy in uncertain global economic environment-Legislative processes are no longer derailed-Credibility has been restored with transparent auction of resources-Thrust given to financial inclusion has been unprecedented-Efforts have been made to simplify process of starting a business-Clearly for India, reforms will be incremental, not ‘big bang’-Government vision is of a modern, smart, clean & well-connected India
PM Narendra Modi to inaugurate digital India campaign on July 1: DoT sources-PM to launch Digital India logo at digital India week on July 1-400 CEOs to attend Digital India week-400 CEOs include Satya Nadella, Mukesh Ambani, Cyrus Mistry-Government-industry MoUs likely to be signed during Digital India week-Government to update status of national broadband highway rollout
Commerce Ministry official says-Government not inclined to go ahead with FDI in multi-brand retail, no dilemma about it-India is the largest user of anti-dumping duty protection-100 cases of anti-dumping done every year, type & intensity unprecedented-Whenever there is a surge in imports, safeguard rules come into play-Disagree with view that tests w.r.t. Maggi have not been conducted properly-Food Safety and Standards Authority of India (FSSAI) a professional body, i am sure there is something amiss
MoS Aviation says-Airlines must develop self-monitoring fare mechanism, else DGCA will step in-If airlines do not fall in line, may direct Air India to lower fares
Dena Bank: Sources-Will require over Rs 6,000 crore capital over the next five years-Still have some headroom for raising Tier-I and Tier-II capitalAlert: Dena Bank on Wednesday said that they will require Rs 500 crore capital infusion for FY16
Other stocks and sectors that are in news today:-Alembic Pharma receives tentative US FDA nod for anti-inflammatory drug Celecoxib-Balrampur Chini shuts Khalidabad unit due to business turning unviable: FE-Wipro may bring Cisco chief of tech and strategy Padmasree Warrior on borad: ToI-ICICI Bank cuts base rate by 5 bps to 9.70 percent w.e.f June 26-SBI cuts interest rates on bulk deposits by 50-75 bps-RBI says non-deposit taking NBFCs can act as sub-agents under money transfer service schemes (MTSS) without RBI nod-Lactose (India) board to consider issue of convertible warrants on a preferential basis on July 2-Induslnd Bank QIP issue opens today, to raise up to USD 750 million: Sources-PNC Infratech says Ghaziabad Aligarh Expressway commences toll operations on Ghaziabad-Aligarh section of NH-91-Government considering hiking FDI limit for media sector: PTI sources-Parliamentary Standing Committee seeks views on improving export infrastructure
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