Tuesday, January 8, 2019

Amazon is the most valued company in the world

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Amazon closed at $ 1629.51 in Monday's trade and become the world's most valuable public company, surpassing Microsoft. Amazon's market cap stands at $ 797 billions, as against Microsoft's $ 783 billions. Microsoft closed at $ 102.06.

Amazon had reached a $1 trillion market cap in September.

The company has a number of growth drivers that excite investors.

Monday, January 7, 2019

Gruh Finance to merge with Bandhan Bank

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Bandhan Bank  will buy mortgage provider Gruh Finance of HDFC group, in a share-swap deal to build up its housing loan portfolio.

Under the merger cooperation agreement, shareholders of Gruh Finance will get 568 shares of Bandhan Bank for every 1,000 shares held.

TCS regains number 1 position in market cap

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TCS regained number 1 position in market cap. The stock gained Rs 21 and closed at Rs 1898. The market cap of the company stands at Rs 7.12 lac Cr. RIL is the second most valued company with a market cap of Rs 7 lac Cr. RIL closed at Rs 1105.

Direct tax collections grew by 14 percent

Center's net direct tax collection grew 13.6 per cent in April-December 2018 to Rs 7.43 lakh crore.

The net direct tax collections represent 64.7 per cent of the total Budget Estimates of Direct Taxes for financial year 2018-19.

Gross collections up to end-December this fiscal stood at Rs 8.74 lakh crore, up 14.1 per cent over the gross collections for the corresponding period of last year.

Rating watch on IDBI Bank removed

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Rating agency S&P, has affirmed ‘BB’ long-term and ‘B’ short-term foreign currency issuer credit ratings on IDBI Bank, while removing them from Credit-watch, after the recent capital infusion from Life Insurance Corporation.

The bank has announced that it received Rs 14,500 crore in fresh capital from LIC on December 28, 2018. This capital infusion is part payment for LIC’s proposed acquisition of a 51 per cent controlling stake in the bank. 

IDBI Bank closed flat at Rs 61.25 in today's trade.

Essar Global clears overseas debt

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Essar Global, the holding company of Essar Group has repaid all its overseas debt after it paid back the last tranche of Rs 12,000 crore to its various Indian and foreign lenders.

This is in addition to Rs 30,000 crore repayment made in August 2017 to various lenders from the proceeds from the sale of Essar Oil to Rosneft of Russia.

With this, Essar Global has now repaid about Rs 6,300 crore to ICICI Bank, Axis Bank, and Standard Chartered Bank. This repays entire Rs 31,500 crore of loans availed from these banks during 2008-14.

Today's Trading tips

Sl No
Name of the company
Buy at
Stop loss
Indusind Bank
Sun Pharma

Friday, January 4, 2019

FM says banks have recovered Rs 80,000 Cr through IBC

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Finance Minster Jaitley says that within two years of the IBC coming into being, 66 cases have been resolved, with creditors realizing around ₹80,000 crore.

 FM expects 12 big cases such as Bhushan Power and Essar Steel to get resolved before the end of March, realizing around ₹70,000 crore for creditors.

Sun Pharma completes Pola Pharma acquisiion

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Sun Pharma has completed the acquisition of Japan-based Pola Pharma to strengthen its presence in the dermatology segment across the globe. 

In November last year, it had entered into a definitive agreement to acquire Pola Pharma, which is engaged in research and development, manufacture, sale and distribution of branded and generic products in Japan. Pola Pharma has two facilities in Saitama to manufacture topical products and injectables.

Forthcoming IPO : China National Tobacco Corp

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China National Tobacco Corp., state owned and the biggest cigarette maker in the world, plans to list its international unit on the Hong Kong stock exchange.

The unit, China Tobacco International Inc., is primarily responsible for procuring overseas tobacco leaf from countries like Brazil and Canada for the cigarette giant, which churns out four of every 10 sticks made in the world. The enterprise accounts for roughly 40% of the world's total consumption of cigarettes, and is the world's largest manufacturer of tobacco products measured by revenues.

FAANG loses shine

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FAANG stocks -  Facebook, Apple, Amazon, Netflix, and Google-parent company Alphabet, have together wiped out some $1 trillion worth of investor wealth in their slide from respective high levels hit during the second half of 2018.

The value wiped off so far is higher than the total market capitalization of top 50 companies that comprise Nifty.

The market value of Facebook plunged by $238 billion to $389.92 billion as of January 2 from its high of $627 billion hit on July 25, 2018. Likewise, market-caps of Apple and Amazon declined 32 per cent and 24 per cent to $749.39 billion and 752.59 billion, respectively. Apple’s market was around $1,103 billion on October 3, while that of Amazon was $994.75 billion at its peak on September 4.

Parliamentary panel wants capital adequacy norms eased

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 Parliamentary panel, headed by former Law minister Veerappa Moily  has asked the Reserve Bank to ease capital adequacy norms for banks, review supervisory framework PCA, and urged the government to set up a committee to look into issues concerning accountability of the central bank as a regulator.

The standing committee on finance also asked the RBI to evaluate the efficacy of its own guidelines on dealing with frauds.

The committee has also suggested increasing the retirement of age of chiefs of public sector banks to 70 years and effect proper manpower planning and HR development strategies in PSBs.