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Friday, October 07, 2016

India to clock GDP of 7.3% in FY'18: Ambit Capital
Brokerage firm Ambit Capital has a GDP forecast of 7.3% for India in the next fiscal, expecting positive results from a range of policy decisions triggered by election of PM Narendra Modi, appointment of former RBI governor Raghuram Rajan and the advent of technology. According to the firm, the election of Modi, appointment of Rajan and advent of technology have been "disruptive" in the short run, but the policy decisions triggered by these resets have propelled a silent revolution in 'access' to end-markets. Ambit expects 2017-18 GDP at 7.3%.

HDFC Ltd to raise Rs 1,500 cr via bonds to augment capital
HDFC Ltd will raise Rs 1,500 cr by issuing debt securities on private placement basis. The secured non-convertible debentures (NCDs) will carry coupon rate of 7.5% p.a. "The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said in a regulatory filing.

NSE secures board clearance to launch IPO via OFS
Ahead of its IPO, leading stock exchange NSE's board has decided that the public issue will be in the form of an offer for sale by shareholders while the directors have approved issuance of bonus shares, stock split and a dividend payout for the existing investors. NSE plans to get listed in India as well as abroad. It will file IPO papers with market regulator Sebi for the domestic public issue by January 2017 while the same will be done for overseas listing by April next year.

Global expo on Tea & Coffee in Mumbai from October 20
The “World Tea & Coffee Expo” (WTCE) is to be held for the 4th time at Bombay Exhibition Centre in  Mumbai from 20th Oct to 22nd Oct 2016. WTCE is a dedicated global trade event for the Tea, Coffee and allied sectors and consists of an Expo, a 2-day hi level conference and workshops. WTCE gives an opportunity to showcase products, services & technologies, network with focused buyers, upgrade knowledge and find practical solutions to issues faced by this vital sector. In addition to catering to a huge and growing domestic market, the Hot beverage segment is a major forex earner providing large scale employment opportunities especially to women. The Expo makes accessible world class products and technologies to Indian businessmen.

DHFL cuts home loan rate by 0.2%
Dewan Housing Finance Corporation Ltd (DHFL) yesterday reduced lending rate by 0.2% to 9.35% to cash in on the festival fervour. The revised rate of 9.35% for its new customers would be effective from October 11, DHFL said in a statement. The company will offer the interest rate for loans up to Rs 30 lakh which is categorised under affordable housing, thereby enabling home ownership in the low and middle income segment, it said.

Blueair looks to foray into outdoor category
Sweden-based air purifier firm Blueair plans to foray in the outdoor category in the next six to nine months and expects India to be among its top three markets globally by 2021. "We will look at products like face mask and products for the car. The outdoor products are under test right now. India will be definitely among the top five countries where we will launch the outdoor products, in around six to nine months," Blueair Director West & South Asia Girish Bapat told PTI. Blueair, which is present in India for the last two years, strengthened its portfolio by launching two new air purifiers ranges - Blue and IOT- Smart classic.

Day 5: Spectrum auction gets bids worth Rs 63,325 cr so far
Spectrum auction has received bids worth Rs 63,325 crore so far on the fifth day yesterday for around 40% of mobile radiowaves put up for sale. "Bids worth about Rs 63,325 crore have been received till the end of 26th round for 960 Mhz of spectrum out of total 2,354.55 Mhz put for auction," official sources told PTI.

Endurance Tech IPO subscribed 92% on Day 2
Endurance Technologies' initial public offering was subscribed 92% on the second day of the offer yesterday. The company's IPO received bids for 1,58,70,960 shares against the total issue size of 1,72,29,118 shares, data available with the NSE till 1730 hrs showed. The quota set aside for qualified institutional buyers (QIBs) was oversubscribed 1.70 times, while non institutional investors received 13% subscription. Retail investors category was subscribed 82%. Endurance Technologies has raised over Rs 348 crore by allotting shares to anchor investors.

S&P, Moody's ratings on ATL unaffected by RInfra deal
S&P Global Ratings and Moody's Investors Service yesterday said their ratings on Adani Transmission is unaffected by the company's announcement to acquire Reliance Infrastructure's (RInfra) operational transmission assets. "We believe the current rating level can accommodate the acquisition although it would leave no headroom for any further material cash outflow," S&P said in a statement.

Nissan to launch 8 new products in India by 2021
Japanese auto major Nissan Motor Co will launch eight new products in India over the next five years, enhancing its presence across the country. The company, which is aiming at 5% market share in India by 2020 will launch the new products under its Nissan and Datsun brands.

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