NSE SHIFTS 15 STOCKS TO TRADE FOR TRADE

NSE has shifted the following 15 stocks to trade for trade category.

Sr. No.	Symbol	Name of the security
1	AHLUCONT	Ahluwalia Contracts (India) Limited
2	ASIANELEC	Asian Electronics Limited
3	ATNINTER	ATN International Limited
4	BEPL	Bhansali Engineering Polymers Limited
5	CEREBRAINT	Cerebra Integrated Technologies Limited
6	GARDENSILK	Garden Silk Mills Limited
7	GLODYNE	Glodyne Technoserve Limited
8	IBWSL	Indiabulls Wholesale Services Limited
9	INDOSOLAR	Indosolar Limited
10	MIC	MIC Electronics Limited*
11	MIRCELECTR	MIRC Electronics Limited
12	PETRONENGG	Petron Engineering Construction Limited
13	SHYAMTEL	Shyam Telecom Limited
14	SUBEX	Subex Limited
15	WANBURY	Wanbury Limited

RBI'S DATA AGAIN CONFIRMS SLOWDOWN IN THE ECONOMY

The Reserve Bank of India's recent data on Deposits and Credit of Scheduled Commercial Banks for June 2013 indicates further slowdown in the economy. The data are classified according to states, districts, centers (top 100 and 200 centers), population groups and bank groups.

Highlights:

• The growth (y-o-y) in both aggregate deposits and gross bank credit decelerated to 13.5 per cent and 13.2 per cent, respectively, in June 2013 from their respective levels in the preceding quarter as well as a year ago. The growth in aggregate deposits and gross bank credit was lower across all population groups compared with a year ago.
  
• The top hundred centers, arranged according to the size of deposits accounted for 68.5 per cent of the aggregate deposits and the top hundred centers arranged according to the size of gross bank credit accounted for 76.9 per cent of gross bank credit.
  
• The offices with deposits of Rs 100 million or more accounted for 70.3 per cent of the bank offices, 98.0 per cent of aggregate deposits and 95.0 per cent of gross bank credit. The offices with outstanding gross bank credit of ` 100 million or more accounted for 49.3 per cent of the offices, 80.4 per cent of deposits and 96.0 per cent of gross bank credit.
  
• Nationalized banks, SBI and its associates, and private sector banks accounted for 52.3 per cent, 22.3 per cent and 18.4 per cent of aggregate deposits, respectively, and for 50.2 per cent, 22.6 per cent and 19.5 per cent of gross bank credit, respectively.
  
• The credit-deposit (C-D) ratio of all Scheduled Commercial Banks as on June 28, 2013 stood at 76.5 per cent. At the bank group level, C-D ratios of foreign banks (94.2 per cent), new private sector banks (83.5 per cent) and SBI and its associates (77.5 per cent) were higher than the all-India average.
  

CREDIT SUISSE DOWN GRADES L&T, WE CONTIUES TO BE BULLISH ON L&T

Larsen and Toubro shares took a beating yesterday after Credit Suisse downgraded the stock to under-perform from neutral, saying an increasing share of orders from West Asia will narrow operating margin.

L&T’s shares lost 3.73% to Rs837.25,while the benchmark Sensex lost just 0.64% to 20,415.51 points.

Credit Suisse expects L&T to cut its guidance of flat margins for the 2014 fiscal.

However we at First Choice IPO do not think so. We are bullish on the stock in the medium to long term and recommend to accumulate at current level.

HSBC INVEST DIRECT TO CLOSE ITS OPERATIONS

HSBC, which acquired IL&FS Investment's brokerage business in 2008, will be shutting its struggling retail brokerage and depository business in India. The company had pumped in over $290 million in the outfit. About 300 employees of the company stand to lose their jobs due to the decision.

IPO NEWS: TWITTER TO LIST ON NYSE

Twitter has opted to list its share on NYSE, overlooking tech-heavy NASDAQ. NASDAQ bungled Facebook Inc's IPO offerings in 2012. Twitter is now expected to kick off its investor roadshow on October 28 where it will pitch its offering to Wall Street before shares start trade in mid-November.

TCS'S REVENUE, NET UP

TCS reported a net profit of Rs 4,633 crore for Sept quarter, an increase of 34.91 per cent over the same quarter last fiscal at Rs 3,434 crore.
TCS’ consolidated total income during the quarter under review increased 31.36 per cent to Rs 20,952 crore as compared with Rs 15,949 crore in the quarter ended September 30, 2012. The stock closed flat at Rs 2216.

Foreign banks entry to be made easy - Raghuram Rajan

Reserve Bank of India will be unveiling new banking sector reforms, which would allow foreign banks to enter Indian market in a big way and even contemplate taking over Indian banks, according to RBI Governor Raghuram Rajan.
 
The banking sector reform, in particular to those facilitating entry of foreign banks in India in a "big way" is part of the five pillars of reforms, including monetary policy framework, which the RBI is going to implement in the next few years.

RIL MAY REPORT ONE TRILLION REVENUE FOR THE THIRD QUARTER

Reliance Industries is expected to report quarterly revenue of Rs 1 trillion for the first time due to higher margins across its petrochemical product chain, and refined a higher volume of crude oil in the three months ended 30 September .

 

The conglomerate is expected to post net revenue of Rs.1.01 trillion, up 12% year-on-year, and net profit of Rs.5,407.2 crore.

RIL’s gross refining margin is estimated to come in at $7.7 per barrel.

TCS WIDENS MARKET CAP OVER RIL

TCS's market cap has touched Rs 4.15 lac crore yesterday, where as RIL's market cap stay put at Rs 2.78 crore. The market cap is at all time of Rs 1.37 lac crore. RIL yesterday closed flat at Rs 863 where as TCS gained Rs 48, to end at Rs 2128.

INFY, TCS TOUCH NEW 52 WEEK HIGH

Infosys which reported better revenue for the second quarter and upped its guidance for the full year ended the day at Rs 3278, up Rs 150. In the intra day trade the scrip touched new 52 week high of Rs 3338. Similarly TCS touched new high of Rs 2138, before settling at Rs 2128, up Rs 48.

JP MORGAN POSTS LOSS

JPMorgan Chase  which paid a whopping $920 million legal charges to settle  cases related to trading scandal has reported a loss in the third quarter amounting to $380m, as compared with a profit of $5.7bn in the same period last year.

JP Morgan is currently in talks with the US government over a potentially huge settlement relating to the sale of mortgage-related investment products in the run-up to the financial crisis.

CANARA BANK TO LIST ITS BOND IN SINGAPORE EXCHANGE

Canara Bank is planning to raise $500 million via unsecured bonds under its $2 billion medium-term note programme.
The issue will open on October 18, 2013. The bonds will carry a coupon rate of 5.25 per cent and the tenor will be 5 years. The bonds rated as Baa3/BBB- will be listed on Singapore Stock Exchange.