RBI may allow banks to buy infrastructure bonds
The RBI is considering allowing banks to buy infrastructure bonds, which has been suffering from low trading volumes. Allowing banks to buy infrastructure bonds would mark a reversal for the RBI, which allowed lenders to only issue the debt, while limiting purchases to investors such as pension funds, provident funds, and insurers. In case this is implemented it would help banks to raise funds at competitive rates and hence positive for banks having higher infra exposures ICICI, Axis, PNB, IDBI, SBI etc.
HUL Q3 net profit up 18% (YoY)
Hindustan Unilever Ltd ( HUL) has announced the following for the quarter ended December 31, 2014 (YoY):Net Profit of the company rose by 17.87% to Rs1252.17 crore Vs Rs1062.31 crore (YoY).Total Income increased by 7.17% to Rs7894.39 crore Vs Rs7366.01 crore (YoY).
Asian Paints to set up plant at Vizag at Rs1700 crore
The Andhra Pradesh government has cleared the administrative hurdles for Asian Paints to set up Rs1700crore manufacturing facility at Vishakhapatnam. The Company has agreed to establish the unit soon after the allotment of the land and obtaining due environmental and other clearances from the government.
Wipro spurts as Q3 net profit beats street
Shares of Wipro rallied over 7% to Rs596 on National Stock Exchange (NSE) after reported a better-than-expected 5% quarter on quarter growth in net profit at Rs2,192 crore for the financial year’s third quarter ended December 31, 2014 ( Q3). Revenue at Rs11,992 crore grew 2.7% sequentially.The stock opened at Rs591.10 and hit a high of Rs598.50 on NSE.
HCL Tech gains on bonus plans
Shares of HCL Technologies surge over 3% to Rs1690 on NSE on back of plans to issue bonus share HCL Tech: To consider issue of bonus share on the day of earnings release on 30th January 2015, stock to react positively.
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