As part of periodic review, IT major Wipro will enter the National Stock Exchange's 50-share Nifty index with effect from 27 September 2013 while Reliance Infrastructure would exit. The decision regarding these changes were announced after market hours on Tuesday, 27 August 2013 by the India Index Services & Products, a joint venture of NSE and Crisil, which manages the various indices at the exchange.
IT stocks may gain as rupee hit record low below 66 against the dollar on Tuesday, 27 August 2013. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.
PSU OMCs may fall and shares of oil exploration firms could rise as crude oil prices climbed. US crude oil futures soared to an 18-month high on Tuesday as traders worried that a potential military strike against Syria could disrupt the region's oil supplies. US crude oil futures for October delivery surged 2.9%, to $109.01 a barrel, their highest close since February 2012. Higher crude oil prices could increase under-recoveries of PSU OMCs. PSU OMCs suffer under recoveries on domestic sale of diesel, LPG and kerosene at controlled prices.
UltraTech Cement is reportedly at an advanced stage of negotiation with Jaypee Cement Corporation to acquire its 51% stake in the 5 mtpa Gujarat facility for about Rs 4000 crore.
Rural Electrification Corporation (REC) has filed shelf prospectus and prospectus tranche-I in respect of proposed public issue of tax free secured redeemable non-convertible bonds, in the nature of debentures, during the financial year 2013-14, with the registrar of companies (RoC), NCT of Delhi and Haryana on 27 August 2013. The public issue of tax free secured redeemable non-convertible bonds, in the nature of debentures of REC will open on 30 August 2013 for subscription and is scheduled to close on 23 September 2013.
Also Read
Financial Technologies (India) at a request received from National Spot Exchange (NSEL) has given a bridge loan of Rs 177.23 crore to NSEL. As informed by NSEL this amount shall be exclusively used for payments to small investors. Without prejudice and without admitting any liability, the above loan has been given considering the exigencies and to protect the interest of small investors. NSEL is the unlisted unit of Financial Technologies (India).
The foreign investment promotion board (FIPB) on Tuesday reportedly gave the green signal to the $1.85-billion buyout of Bangalore-based Strides Arcolab's injectables arm by Nasdaq-listed Mylan.
Shares of Pfizer turn ex-dividend today, 28 August 2013 for a total dividend of Rs 32.50 per share for the year ended 31 March 2013. This includes dividend of Rs 12.50 per share and a special dividend of Rs 20 per share.
Shares of Lakshmi Mills turn ex-dividend today, 28 August 2013 for a dividend of Rs 12 per share for the year ended 31 March 2013.
Shares of Rural Electrification Corporation turn ex-dividend today, 28 August 2013 for a final dividend of Rs 1.50 per share for the year ended 31 March 2013.
Shares of Wyeth turn ex-dividend today, 28 August 2013 for a dividend of Rs 17 per share for the year ended 31 March 2013.
Powered by Capital Market - Live News
