HDFC Bank : India to grow at 7.6 percent

According to HDFC Bank, India's economic growth is expected to rise to 7.6 percent in the April-June quarter of 2018-19 from a sub-6 percent figure in the year-ago period mainly due to a low-base effect.

  HDFC Bank research report says that growth numbers across sectors in the first quarter are likely to get a boost from a favorable base effect even as there are some genuine signs of revival in the economy.

The major push to growth is likely to come from the manufacturing and the services sector while agricultural growth is also likely to be supportive.

Rate sensitive stocks are likely to trade positively due to the above in today's trade.  

Amazon inches towards 1 trillion market cap,closes above $ 2000 for the first time

Amazon closed above $ 2000 mark for the first time in Thursday's trade. The market cap of the company at CMP ($2002) stands at 976641 million usd.  The stock is likely to hit the coveted 1 trillion mark in the coming weeks. Amazon will be the second company after Apple to have market cap exceeding 1 trillion mark.

Rana Kappor to continue as Yes Bank CEO

RBI has allowed Rana Kapoor to continue as chief executive officer of Yes Bank, till further notice.

RBI's communication comes one day before Kapoor’s current term ends - on September 1. Kapoor has been the bank’s CEO since 2003.

IPO ANALYSIS : SUMIT WOODS LIMITED - AVOID

Issue Details :

Issue opens  / closes on	29-08 /31-08-2018
Issue size	45,53,000 equity shares
Face Value	Rs 10
Price	Rs 43-45
Business	Construction
Promoters	Mitaram Jangid / others
Listings	Nse, emerge
BRLM	Mark Corporate Advisors
Registrar	Big Share

IPO ANALYSIS : RAJSHREE POLYPACK LIMITED

Issue Details :

Issue opens  / closes on	10-09 /12-09-2018
Issue size	29,60,000 equity shares
Face Value	Rs 10
Price	Rs 119-121
Business	Manufacturers of  rigid plastic sheets  and thermoformed packaging  products
Promoters	RAMSWAROOP RADHESHYAM THARD, NARESH RADHESHYAM THARD AND SAJJAN N. RUNGTA HUF
Listings	Nse, emerge
BRLM	Prabhudas Lilladher
Registrar	Link Intime

IPO ANALYSIS : LAGNAM SPINTEX LIMITED - Avoid

Issue Details :

Issue opens  / closes on	04-09 /07-09-2018
Issue size	60,00,000 equity shares
Face Value	Rs 10
Price	Rs 41
Business	Mfrs of yarns
Promoters	Dwarka Prasad Mangal, Anand Mangal & Lagnam Inf otech Solutions Private Limited
Listings	Nse, emerge
BRLM	Holani Consultants, BOI Merchant Bankers
Registrar	Big Share

Remarks:

Company is unprofessionally managed.

R Infra sells Mumbai power distribution business to Adani

Reliance Infrastructure has sold its Mumbai power distribution business to Adani Transmission in a deal valued at Rs 18,800 crore. With this the debt of R Infra has come down to Rs 7500 Cr.

The company, which had a gross debt of about Rs 22,000 crore prior to the deal, has reduced its debt by Rs 13,800 crore from the deal proceeds and is now aiming to be debt free in another year, according to Reliance Group chairman Anil Ambani. In addition, they have over Rs 5,000 crore of cash inflows from past regulatory assets which will flow to Reliance Infrastructure and not to Adani. 

RBI's report says NPA mess not yet over

Reserve Bank of India says that banks will witness a further deterioration in their non-performing assets due to the economic situation prevailing in the current fiscal.

As per RBI's Annual Report 2017-18, gross non-performing assets plus restructured standard advances in the banking system remained elevated at 12.1 per cent of gross advances at end-March 2018.

Going forward, the stress tests carried out by the Reserve Bank suggest that under the baseline assumption of the current economic situation prevailing, the bad loan ratio of scheduled commercial banks may increase further in 2018-19, says the report.

Govt directs RBI to prepare scheme for PSB merger

Government has directed the RBI to prepare a list of candidates for merger among 21 government-controlled lenders as it seeks to strengthen a banking system laden with bad debt.

In a meeting this month, finance ministry officials also asked the Reserve Bank of India to suggest a time frame for the consolidation. The move is aimed at creating fewer, better-capitalized lenders and improving regulatory oversight.