IPO NEWS : KOTAK AND IIFL TO MANAGE MANPASAND IPO

Manpasand Beverages's IPO will be managed by Kotak Mahindra Capital and IIFL. Manpasand makes the popular beverage drink 'mango sip'. The company is looking to raise around Rs 200 crore from the IPO.

PREDATORY LENDING : JP MORGAN CHASE SUED

The City of Los Angeles sued JP Morgan Chase, accusing the largest US bank of engaging in discriminatory mortgage lending practices that drove up foreclosures among minority borrowers. 

IPO NEWS : L&T TO LIST ITS TECH ARMS IN 2 YEARS

L&T is in the process of listing the two firms -- L&T Technology Services and L&T Infotech . Both will be likely to be listed in about 18-24 months time.

L&T'S Q4 RESULT BEATS STREET ESTIMATES

L&T has reported a 69 per cent increase in standalone net profit to Rs 2,723 crore in the quarter ended March 31.

The company on consolidated basis has posted a net profit after taxes of Rs. 4902 crore for the year ended March 31, 2014 as compared to Rs. 5206 crores for the year ended March 31, 2013. Total Income has increased from Rs. 75553 crores for the year ended March 31, 2013 to Rs. 86110 crores for the year ended March 31, 2014.

The company has order book at Rs 1,62,952 crore as of March 31, an increase of 13 per cent from a year earlier, it said. Orders from overseas accounted for about 21 per cent of the total.

The results were announced after the closure of exchanges. The stock will react to the results on Monday.

FIIs NET BUY AROUND RS 3000 CR IN CASH MARKET

The bench mark indices were slightly down in today's trading. This is inspite of FIIs net buying to the extent of Rs 2978 crore (including Kotak deal) in cash market. Market rumors are that FIIs have bought into pharma, auto and FMCG stocks in today's trading. In cash market segment DIIs have net sold to the extent of Rs 458 crore. In today's trade HUL gained 7%, M&m 5%, Sunpharma 4% and CIPLA, Dr Reddy's 3% each. These counters may see some more action, on next Monday.

NDA MAY PARTLY PRIVATISE AIR INDIA

BJP led National Democratic Alliance government is open to the idea of privatizing loss-making Air India which is surviving on a bailout funded by the taxpayer. Civil aviation minister Ashok Gajapathi Raju Pusapati says his government is not averse to the idea of privatization. Among others, three things that haunts Air India are - inefficiency, idle time and frequent government interference. If privatized the effiency will improve  and losses will come down. Airline making profit is a distant dream.

NSE NEWS : MOCK TRADING ON 07/06/2014

NSE shall be conducting a mock trading (contingency) session in the Futures & Options Segment on Saturday, June 07, 2014 as per the following schedule: 

Normal Market open time 10:00 hrs. 

Normal Market close time 15:30 hrs. 

Position Limit/Collateral value Set up cut off time 15:40 hrs. 

Trade modification end time 15:40 hrs. 

SEBI ISSUES NOTICE TO HDFC MF AGAIN

HDFC Asset Management Company, which runs the country's top fund house HDFC MF, has come under SEBI's scanner again for alleged violations of various capital market regulations.

A show-cause notice has been issued by Sebi to HDFC Asset Management Company and other entities for alleged violations of regulations and code of conduct governing mutual funds, brokerage firms and portfolio management, among others.

Sebi has asked these entities to explain why penal action should not be taken against them for failing to comply with the relevant regulations.

TODAY’S PICK FOR TRADING

                     

                                                                                                           (AMOUNT IN RUPEES)

COMPANY	BUY AT	STOP LOSS	TARGET
RELIANCE	1070	1058	1097
BAJAJ AUTO	1942	1929	1999
SBI	2585	2566	2629
TCS	2155	2141	2189
SUN PHARMA	585	577	603

YES BANK PLANS RS 3000 CR SHARE SALE

Yes Bank has plans to raise about Rs 3000 crore in a QIP offer that will strengthen its capital position. At the current market price (Rs 549 ) the company has to issue 20% of equity shares to garner Rs 3000 crore.

SUN PHARMA'S FY 14 NET AT RS 3204 CRORE

Sunpharma's consolidated net profit  stood at Rs. 3204 crore for the year ended March 31, 2014 where as the same was at Rs. 2983 crore for the year ended March 31, 2013. Total income stood at Rs. 16588 crore for the year ended March 31, 2014 where as the same was at Rs. 11611 crore in the previous fiscal.

IPO : RETAIL RESERVATION MAY GO UP

The finance ministry is seriously thinking of  greater retail participation.  For this purpose some tax breaks, a bigger share for retail investors in initial public offerings (IPOs)are on the cards. Ministry also likely  to sell PSU shares at attractive prices to encourage larger retail participation.

KFA FACES WINDING UP PETITION

United Bank of India has filed a winding up petition against Vijay Mallya- promoted Kingfisher Airlines for failing to repay loans amounting to Rs 336 crore. 

AL HILAL BANK IMPLEMENTS FINACLE E BANKING SOLUTIONS

Al Hilal Bank of UAE has successfully implemented the e banking solutions 'finacle' of  Infosys. However this good news has failed to prop up the stock. The stock is under severe selling pressure since morning as the president of the company has submitted his resignation.

INFY TANKS 6% IN THE OPENING TRADE

Infosys has lost 6% or Rs 200 in the opening trade. This fall is entirely due to resignation of B G Srinivas, president of the company.

TODAY’S PICK FOR TRADING

                                                                                                            (AMOUNT IN RUPEES)

COMPANY	BUY AT	STOP LOSS	TARGET
RELIANCE	1090	1078	1012
BAJAJ AUTO	1950	1929	1996
SBI	2610	2592	2662
TCS	2152	2136	2189
SUNPHARMA	583	575	602

HOME LOANS TO BE CHEAPER, SAYS MINISTER

The interest rates on home loans will be reduced says Urban Development Minister Venkaiah Naidu. He further indicated that BJP's mission is to provide house for all by 2020. Currently home loan interest rate ranges from 10.25% to 12%.p.a. 

GLOBAL CUES, F&O EXPIRY MAY KEEP BENCHMARK INDICES IN RED

Equity markets in U S closed a tad lower yesterday. FIIs in India have been net sellers in cash market for the last 2-3 sessions. Long positions in futures will come for square off / roll over today, the last the day of F&O expiry. SAIL and Hero MotoCorp results are below the analyst expectations. Infy too may come under pressure as its president and contender for CEO post has resigned. These developments and global cues may keep the benchmark indices in red today.

INFOSYS : ANOTHER SHOCKER, BGS QUITS

B G Srinivas, President and Member of the Board,  has resigned from Infosys. This is the 10th high-profile exit from the company in the last one year. Srinivas, was once seen as the top contender for the job of Infosys CEO along with Pravin Rao.

HERO MOTOCORP'S Q4 NET DOWN

Hero MotoCorp has posted a net profit after taxes of Rs. 5544.30 million for the Quarter ended March 31, 2014 where as the same was at Rs. 5742.30 million in the previous fiscal. Total Income stood at Rs. 66359.40 million for the Quarter ended March 31, 2014, as against Rs. 62502.60 million for the Quarter ended March 31, 2013.


The consolidated net profit  is at Rs. 21027 million for the year ended March 31, 2014. Total Income is Rs. 257196 million for the year ended March 31, 2014. The company had posted a net profit of Rs 21181 millions in FY13.

Google cars - with no steering wheel or brakes, just press and go

Google cars wont have a steering wheel. Nor does it have mirrors, an accelerator pad or brake pedal, with software and sensors doing all the work and taking passengers where they want to go “at the push of a button,” explained Chris Urmson, director of the Self-Driving Car Project, in a blog on Google’s website.

Safety is the most important aspect of this car, said Urmson. Sensors remove blind spots and can detect objects more than two football fields away in all directions.

Google says just press and go on its self-driving vehicle.

RBI ADVISES AGAINST LENDING TO GOVT AGENCIES BY UCBs

The Reserve Bank of India has  advised urban co-operative banks (UCBs) to refrain from giving large loans to public sector or government entities, saying these transactions go against the core functions of these lenders. 

L&T BAGS ORDERS WORTH RS 5200 CRORES

Infra major L&T has bagged orders worth Rs 5200 crores across various business segments. This includes orders received from Bangladesh to build two gas based power plants. The stock is up Rs 15 in the early trade.

CAFE COFFEE DAY PLANS IPO

India's largest coffee retailer Cafe Coffee Day plans to list its shares on the exchanges. It is in the process of selecting the merchant bankers to the offer. Among others, the objects listing is to fund expansion and provide an exit route to PE / early investors. The company is valued around Rs 6000 crore.

TARINI INTERNATIONAL'S IPO TO OPEN ON JUNE 9

Tarini International's IPO will open on 9th June. The company will issue of 39.78 lakh equity shares of Rs 10 each for cash at a price of Rs 41 per share, aggregating to Rs 16 crore. The issue  is scheduled to close on June 13, 2014. The company is into financial and technical consultancy related services.

PWH COOPER ON MCX : KARVY, EDELWEISS AND RIDDHI SIDDHI INDULGED IN ARTIFICIAL TRADES

A report in BL  says Pricewaterhouse Cooper audit report on the MCX has named leading members Edelweiss Trading and Holding, Karvy Comtrade and RiddhiSiddhi Bullions for indulging in artificial trades on the exchange platform to boost volumes.

The audit report, which was uploaded on the stock exchanges Website, has identified 18,521 wash trades aggregating to ₹2,052 crore in the MCX since inception, to September 2013.

JET AIRWAYS NET WIDENS, WITHOUT ETIHAD IT WOULD HAVE GONE KFA WAY

Jet Airways's consolidated net loss for FY 14 stood at Rs 4130 crore, as compared to net loss of Rs 780 crore for the year ended March 31, 2013. Total Income has increased from Rs. 19409 crore for the year ended March 31, 2013 to Rs. 19445 crore for the year ended March 31, 2014. The stock closed at Rs 268, down Rs 10 yesterday.  Recently Etihad Airways acquired 24% stake in the company pumping $379 millions. Without that investment Jet airways would have gone KFA way.

NATIONAL ELECTION WATCH : 30 PERCENT OF MODI'S MINISTERS HAVE DECLARED CRIMINAL CASES.

According to National Election Watch (NEW) and Association for Democratic Reforms (ADR), which analysed affidavits of 44 of the 46 members in the Modi's union council of ministers, thirty percent of ministers have declared criminal cases against themselves and 18 percent have declared "serious criminal cases", based on the analysis of their election affidavits.

IMF : BANKING REFORMS MOVING AT SLOW FACE

Banking reforms aimed at preventing another financial crisis have failed to make enough progress, says Ms Lagarde, the managing director of the International Monetary Fund.

IMF managing director Christine Lagarde blamed a combination of the complexity involved, industry lobbying and fatigue for the delay.

The industry still prizes short-term profit over long-term prudence.

RBI warns about Fake Website in its Name

RBI HAS ISSUED THE FOLLOWING WARNING.

It has come to the notice of the Reserve Bank of India today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons offering various banking facilities  and asking members of public to apply on-line for opening “RBI Savings Account”. The Reserve Bank clarifies that as India’s central bank, the Reserve Bank of India does not offer services offered by commercial banks, such as, savings bank account, current bank account or credit cards.  As such, the question of the Reserve Bank offering online banking services, as is indicated on the fake site, does not arise. The Reserve Bank has cautioned members of public not to fall prey to spurious offers made by the fake website. The Reserve Bank has further cautioned members of public that applying on line  on that website could result in compromising one’s own crucial personal information that may be misused to cause financial and other loss to them. Members of public may visit the official website of RBI at rbi.org.in and see press releases issued earlier which are made available as scrolling headlines for more information about various kinds of fictitious offers of huge moneys sent in the name of the Reserve Bank or its Governor and other  senior officials and what to do in case of receiving such offers.

NO FDI IN MULTI BRAND - BJP

BJP has indicated that foreign players will not be allowed to open mega stores in the country as it may adversely impact the small traders and farmers. This is negative news for stock market. Stocks in the retail sector may react tomorrow, to the above news. 

SENSEX TANKS 150 POINTS, ONLY TECH AND PHARMA STOCKS IN GREEN

Sensex has lost 150 odd points in the first 45 minutes of trade. The fall is led by auto, bank, infra, power and metal stocks. Only two segment stocks, among Sensex stocks,  are in green - tech and pharma.

MOTHERSON SUMI ACQUIRES WIRING HARNESS BUSINESS OF STONERIDGE

Motherson Sumi Systems has signed an agreement to acquire the Wiring harness Business of Stoneridge Inc. The transaction is valued at $ 65.7 million. This acquisition is expected to close in the third quarter of 2014. The acquired business has a turnover of approx. USD 300 Million.

THESE STOCKS MAY TAKE A BEATING BEFORE THE F&O EXPIRY

Coal India, Axis bank,SBI, BHEL, DLF,Hero MotoCorp, Maruti, PNB and NTPC will come under pressure before the F&O expiry on 29-05-2014.

GLOBAL WEB INDEX : WeChat fastest growing social net work platform

According to Global Web Index,  WeChat,  continues to experience rapid growth in monthly active users. GlobalWebIndex is a market research company specializing in online consumer behaviors, released its Q1 2014 data indicating that WeChat is growing faster than any other emerging social platform in Asia Pacific and worldwide, with a 1104% active user increase in the last year.

In India, WeChat witnessed a growth of 1774.3% in its active user base.

DST GLOBAL INVESTS $ 210 MILLIONS IN FLIPKART

DST Global has invested $210 millions in the eCommerce company - Flipkart.  Flipkart recently acquired Myntra for an estimated amount of Rs 2,000-crore.

MARUTI LAUNCHES CELERIO CNG, STOCK TANKS

Maruti Suzuki India today launched a CNG variant of its latest compact car 'Celerio', priced at around Rs 5 lacs.  However, the stock after touching 52 week  high of Rs 2505, closed at Rs 2340, down Rs 46.

VIDEOCON GROUP'S BBCL IPO MAY HIT MARKET SOON

Videocon group's entity Bharat Business Channel Limited, the DTH arm of Videocon group, would come with an initial public offer soon, according its chairman  Venugopal Dhoot . 

Videocon d2H is the largest DTH service provider in the country with a market share of 22 per cent.  The company filed papers with regulators for an IPO about 2 years ago.

LIST OF MODI'S CABINET MINISTERS, MINISTERS OF STATE

MoDI'S Council of Ministers will have Prime Minister, 23 Cabinet Ministers, 10 Ministers of State (Independent Charge) and 11 Ministers of State.

Cabinet ministers:

Rajnath Singh,

Arun Jaitley,

Sushma Swaraj,

Nitin Gadkari,

Venkaiah Naidu,( Rajya Sabha MP elected from Karnataka)

Sadananda Gowda (Karnataka)

Ram Vilas Paswan,

Gopinath Munde,

Kalraj Mishra,

Maneka Gandhi,

Ananth Kumar,(Karnaktaka)

Ravi Shankar Prasad,

Ashok Gadpati Raju,

Ananth Geete,

Harsimrat Kaur,

Narendra Singh Tomar,

Jual Oram,

Thavarchand Gehlot,

Smriti Irani,

Uma Bharti,

Najma Heptullah,

Radha Mohan Singh,

Harsh Vardhan.

MoS Independent - 10

Jitendra Singh, Nirmala Seetharaman, Dharmendra Pradhan, Sarbananda 

Sonowal,Prakash Javadekar, Piyush Goel, General VK Singh, Rao Inderjit, Santosh 

Kumar Gangwar and Sripad Naik.

MoS - 11

GM Siddeshwara, (Karnataka), Manoj Sinha, Upendra Kushwaha, Radhakrishnan P,

Kiren Rijiju, Krishan Pal Gujar, Sanjeev Kumar, Balyan Mansukhbhai Baswa, Rao 

Sahab Dhanwe, Vishnudev and Sudarshan Bhagat.

AXIS,COAL INDIA, M&M, SSLT AND TATA STEEL HIT NEW 52 WEEK HIGH

NIFTY is on a song, up 100  points right now. The surge is led by L&T, M&M, Grasim, Coal India, Jindal Steel, Tata Motors, Axis Bank, SSLT and Tata Steel. Losers, as of now include RIL, SBI, Hindalco,BOB, Kotak Mahindra Bank, Asian Paints and DLF, among others.

MUTHOOT FINANCE'S NET DOWN BY 22%

Muthoot Finance's net profit for FY 14 stood at Rs 780 crore as compared to Rs 1004 crore achieved in FY 13. The latest EPS comes to Rs 21 as compared to Rs 27 in FY13.

VA TECH WABAG'S NET IMPROVES

Va tech Wabag has posted a net profit Rs 113.62 crore for the fiscal 2013-14, as compared to Rs 89.60 crore reported during the previous year.

Total income from operations during the period grew to Rs 2,238.60 crore from Rs 1,617.27 crore in the previous year.

The Rs 2 FV stock closed at Rs 976, up Rs 26, on the exchanges on Friday.

LANCO INFRATECH NET LOSS WIDENS

Lanco Infratech has reported a  net loss of  Rs 584.29 crore for the Jan-March quarter, on account of drop in revenue and mounting losses in EPC and construction business.

For the full year 2013-14, the company's loss widened to Rs 2,274 crore. In the previous fiscal the company had reported a net loss of Rs 1,070 crore.

eBay faces regulators wrath for slow reaction

UK's regulation authorities are looking into the allegations against eBay with a view to taking action against them over its recent data breach.

The company has recently informed its customers about the need to reset passwords. However some customers reported problems when attempting to do so.

The firm has been criticized for its slow reaction in informing customers about the theft of personal data.

U K REGULATOR FINES BARCLAYS FOR FIXING GOLD PRICE

Barclays Bank has been fined again by a regulator. UK regulator has fined $40 millions, after one of Barclays trader was discovered attempting to fix the price of gold

The incident occurred in June 2012, the day after the bank was fined a record $440 millions for attempting to rig Libor.

APPLE NOW EYES BEATS ELECTRONIC

Apple now has set its eye on high-end headphone maker Beats. The deal is expected to cost Apple around $3 billion.

BSE REVISES CIRCUIT FILTER FOR 117 COMPANIES.

BSE has revised the circuit filter for 117 companies with effect from 26-05-2014, as follows:

Sr. No.	Scrip Code	Scrip Name	Circuit Filter % Revised to
1	538273	Response Informatics Ltd	20
2	500012	Andhra Petrochemicals Ltd	10
3	500024	Assam Company India Ltd	10
4	500032	Bajaj Hindusthan Ltd	10
5	500108	Mahanagar Telephone Nigam Ltd	10
6	500179	HCL Infosystems Ltd	10
7	500183	Himachal Futuristic Communications Ltd	10
8	500184	Himadri Chemicals & Industries Ltd	10
9	500245	Kirloskar Ferrous Industries Ltd	10
10	500255	LML Ltd	10
11	500288	Morepen Laboratories Ltd	10
12	500306	Jaykay Enterprises Ltd	10
13	500339	Rain Commodities Ltd	10
14	500414	Timex Group India Ltd	10
15	500467	Harrisons Malayalam Ltd	10
16	500500	Hindustan Motors Ltd	10
17	500945	Value Industries Ltd	10
18	503169	Ruby Mills Ltd	10
19	504864	Orissa Sponge Iron & Steel Ltd	10
20	504961	Tayo Rolls Ltd	10
21	506720	Zandu Realty Ltd	10
22	507892	Winsome Diamonds and Jewellery Ltd	10
23	508976	Spanco Ltd	10
24	512519	Donear Industries Ltd	10
25	513023	Nava Bharat Ventures Ltd	10
26	510245	Swasti Vinayaka Synthetics Ltd	10
27	511196	Can Fin Homes Ltd	10
28	517228	Trend Electronics Ltd	10
29	517571	IMP Powers Ltd	10
30	519260	Sanwaria Agro Oils Ltd	10
31	521016	Indo Count Industries Ltd	10
32	523610	ITI Ltd	10
33	523630	National Fertilizers Ltd	10
34	524037	Rama Phosphates Ltd	10
35	521109	Nagreeka Exports Ltd	10
36	522017	Fluidomat Ltd	10
37	522105	Birla Precision Technologies Ltd	10
38	522215	Swiss Glascoat Equipments Ltd	10
39	523007	Ansal Buildwell Ltd	10
40	523592	Jenson & Nicholson (India) Ltd	10
41	530185	Surat Textile Mills Ltd	10
42	532191	State Bank of Travancore	10
43	532371	Tata Teleservices (Maharashtra) Ltd	10
44	532392	Creative Eye Ltd	10
45	532439	Goldstone Infratech Ltd	10
46	532491	ECE Industries Ltd	10
47	532645	Beeyu Overseas Ltd	10
48	532650	MSP Steel & Power Ltd	10
49	532658	Eon Electric Ltd	10
50	532721	Visa Steel Ltd	10
51	530743	GEI Industrial Systems Ltd	10
52	531719	Bhagiradha Chemicals & Industries Ltd	10
53	531900	CCL International Ltd	10
54	532865	Meghmani Organics Ltd	10
55	532875	Allied Digital Services Ltd	10
56	532924	Kolte-Patil Developers Ltd	10
57	532975	Aishwarya Telecom Ltd	10
58	532987	Rane Brake Lining Ltd	10
59	533029	Alkali Metals Ltd	10
60	533218	Emami Infrastructure Ltd	10
61	533263	Orient Green Power Company Ltd	10
62	533264	Electrosteel Steels Ltd	10
63	533285	RDB Realty & Infrastructure Ltd	10
64	533298	Surana Ventures Ltd	10
65	533704	Essar Shipping Ltd	10
66	570003	Gujarat NRE Coke Ltd. DVR	10
67	505982	Hinduja Foundries Ltd	10
68	511034	Jindal Drilling & Industries Ltd	10
69	505368	Revathi Equipment Ltd	10
70	532804	Technocraft Industries (India) Ltd	10
71	532773	Global Vectra Helicorp Ltd	5
72	590043	Harita Seating Systems Ltd	5
73	501295	Industrial Investment Trust Ltd	5
74	531102	Surana Corporation Ltd	5
75	511559	Times Guaranty Ltd	5
76	500418	Tokyo Plast International Ltd	5
77	590083	Mavens Biotech Ltd	5
78	533330	Acropetal Technologies Ltd	5
79	532874	Suryachakra Power Corporation Ltd	5
80	532141	Andhra Cements Ltd	5
81	531025	Visagar Financial Services Ltd	5
82	531217	Western India Shipyard Ltd	5
83	531569	Sanjivani Paranteral Ltd	5
84	531675	Tricom India Ltd	5
85	532764	GeeCee Ventures Ltd	5
86	532790	Tanla Solutions Ltd	5
87	532801	Cambridge Technology Enterprises Ltd	5
88	532807	Cineline India Ltd	5
89	532842	Sree Rayalaseema Hi-Strength Hypo Ltd	5
90	532850	MIC Electronics Ltd	5
91	532537	Lumax Automotive Systems Ltd	5
92	532605	JBM Auto Ltd	5
93	532616	Xchanging Solutions Ltd	5
94	530315	Hindustan Tin Works Ltd	5
95	530459	Valson Industries Ltd	5
96	523606	Sika Interplant Systems Ltd	5
97	523359	Sharp Industries Ltd	5
98	526544	Scanpoint Geomatics Ltd	5
99	526622	MFL India Ltd	5
100	526707	Alchemist Ltd	5
101	526723	NTC Industries Ltd	5
102	526755	Velan Hotels Ltd	5
103	521022	Suryajyoti Spinning Mills Ltd	5
104	521056	Cheslind Textiles Ltd	5
105	517500	Roto Pumps Ltd	5
106	517552	Advanced Micronic Devices Ltd	5
107	512289	Shirpur Gold Refinery Ltd	5
108	513534	Vardhman Industries Ltd	5
109	514183	Black Rose Industries Ltd	5
110	514450	Mahalaxmi Rubtech Ltd	5
111	517140	Moser Baer India Ltd	5
112	509550	Gammon India Ltd	5
113	507998	Simmonds Marshall Ltd	5
114	506910	Jaysynth Dyestuff India Ltd	5
115	506985	Twilight Litaka Pharma Ltd	5
116	507450	Thiru Arooran Sugars Ltd	5
117	507508	Riga Sugar Company Ltd	5