Stocks in News Affecting Stock Market


Here are Stocks that are in News today:



RBI Governor Raghuram Rajan says

-Not an easy time to take over as RBI Governor

-'India is a strong economy with a great future'

-To emphasise on transparency & predictability

-Will make monetary policy statement on September 20

-RBI takes its mandate from RBI Act

-Monetary stability prime role of RBI

-Urjit Patel panel to work on strengthening monetary policy

-To soon issue circular on freeing bank branching

-'Will not say we will never surprise the market'

-Hope to announce bank licences around January 2014

-Bimal Jalan to head panel to issue bank licences

-Bimal Jalan panel to recommend bank licence candidates to RBI

-To encourage foreign banks to move to subsidiary format

-Can cut bank investments to government securities when pension funds grow

-Nachiket Mor panel to study financial inclusion

-To up credit refinance limit for exporters

-Banks may borrow abroad up to 100% of Tier-I capital

-To work with SEBI, government to liberalise markets

-To push for more global settlements in rupee

-Have to improve efficiency of loan recovery system

-Deputy Governor KC Chakrabarty to study non-performing assets (NPAs) under restructured loans

-Need to accelerate debt recovery tribunal proceedings

-Bad loan problem not alarming yet

-Will issue inflation index savings certificates

-To set up panel on mobile-based payments

-RBI has always changed when needed

-Plan to roll out broader reforms roadmap soon

-Believe 'gloom & doom' thinking overdone

-'My job as RBI Governor is not to get Facebook likes'

-Will follow all developments, including US Federal moves

-RBI has a plan to tackle the economy

-Financial markets get volatile when tapering is announced

-Will not read too much into S&P India rating statement

-Eyeing cues on US Federal easing; to take appropriate steps



RBI sources say:

-Banks' exposure to National Spot Exchange (NSEL) at Rs 3,000 crore

-Banks' direct exposure to NSEL at Rs 1,000 crore

-Banks' indirect exposure to NSEL at Rs 2,000 crore



Axis Bank says

-Direct/Indirect exposure to NSEL insignificant

-There is enough collateral against NSEL exposure



Foreign Investment Promotion Board (FIPB) clears Muthoot Finance White Label ATM licence

-Muthoot finance to set-up 9,000 ATMs in India over a period of 3 years



NSEL says

-Outstanding amount of Rs 5,573 crore on August 1 including value added tax (VAT) of Rs 186 crore

-All pay-out as per Forward Markets Commission (FMC) directions

-All pay-outs being computed based on settlement liability

-To release VAT of Rs 186 crore against invoices raised

-Proportionate VAT amount being retained in Escrow a/c

-Amount to be released after receiving VAT invoices, FMC nod



Control of commodity exchange including MCX, NCDEX to move to finance ministry: Sources

-Prime Minister's Office (PMO) approves decision to bring COMMEX under finance ministry's control

-PMO approves decision to bring FMC under finance ministry's control

-Notification on move to be released in 1-2 days

Alert: currently Comex, FMC under consumer affairs ministry's control



FMC likely to give clarifications on VAT soon: Sources

-Members need to submit valid invoices to collect VAT amount

-NSEL to recover VAT amount from buyers

-Buyers require submitting VAT invoices to claim credit

-VAT amount not part of settlement pay-out plan

-NSEL submitted VAT amount details to FMC

Alert: FMC had asked NSEL to submit details of VAT amount

-Borrower members to pay differential VAT to state government



M&M 's Pawan Goenka to CNBC-TV18:

-Not to offer steep discounts during festive season

-Have a lot of expectations from new RBI Governor

-RBI may continue to focus on inflation

-To launch four new products over next 2.5 years

-May take price hike in sport utility vehicle segment



GSPC

-Hikes CNG price in Gujarat by Rs 3/kg today

-New CNG price in Gujarat to be Rs 66.30/kg versus Rs 63.30/kg



AGMs today

- Bharti Airtel

- HPCL

- Prestige Estates



Ex-Dividend

- BEML: Rs 2.5/share

- GAIL India: Rs 5.6/share

- Godfrey Phillips: Rs 40/share



Other stocks and sectors that are in news today:

-RBI withdraws curbs on foreign equity investment in Axis Bank

-Finance ministry defers plans to infuse Rs 14000 crore in PSU banks: ET

- Apollo Hospital arm may get Rs 600 crore from KKR lead consortium: ET

-Banks scuttle Suzlon ’s plan to pay offshore bond holders: ET

- Godrej Properties rights issue closes on September 11

- Asahi India rights issue closes today

- Jet Airways hikes fares by 25% with immediate effect: Sources to PTI

- Tata Motors MD: To launch diesel version of Nano by end of March 2014: Reuters

- HCL Technologies gets order from North American co Direct Energy

-Ex-Date: Astral Poly Stock Split from Rs 5 to Rs 2



Finance Minister:

-At the moment FDI in pension bill capped at 26%

-Even 26% FDI is a welcome step in pension

-If FDI cap in insurance hiked, pension will also move higher

-Pension Fund Regulatory and Development Authority (PFRDA) now becomes a statutory authority

-To take up insurance bill in next session of parliament