IFCI raises lending rate by 10 basis points to 8.6%

The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60 per cent with monthly rests for lending for tenure up to three months only, IFCI said in a statement. | 1 Comments Term finance lender IFCI   today said it has raised benchmark lending rate by 0.1 percentage point (10 bps) to 8.6 per cent.

 The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60 per cent with monthly rests for lending for tenure up to three months only, IFCI said in a statement. The new rate would be effective from today, it said. Earlier this month, RBI kept its repo rate or the rate at which it lends to banks for short term unchanged at 6.25 per cent

IFCI, IDBI Bank zoom 6-15% as NSE gears up for IPO

 Touted to be one of the biggest IPO of India, investors are keenly awaiting for NSE public offer. The initial public offer would see sale of a little over 11 crore equity scrips, which is 22.5 percent of total shares outstanding by existing shareholders through offer for sale (OFS) route.

Shares of IFCI   rose 15 percent while IDBI Bank   gained 6 percent intraday on Thursday as  NSE has filed Draft Red Herring Prospectus (DRHP) for its share sale. According to the DRHP, existing NSE shareholders may offer 20-25 percent shares for estimated Rs 10000 crore which has got investors existed. Investors expect it to have a positive rub off on IFCI abd IDBI Bank as both own around 3.1 percent and 1.5 percent stake in NSE respectively. Touted to be one of the biggest IPO of India,

 Investors are keenly awaiting for NSE public offer. The initial public offer would see sale of a little over 11 crore equity scrips, which is 22.5 percent of total shares outstanding by existing shareholders through offer for sale (OFS) route. Of the total shares on offer, around 15.8 percent stake would be tendered by foreign shareholders, and 6.7 percent by domestic entities. The offer may give the exchange a valuation of Rs 50,000-55,000 crore, sources said, adding that the IPO itself could be worth about Rs 10,000 crore. Currently, MCX is the only listed exchange in the country, but it had come out with an IPO as a standalone commodity exchange much before the merger of Forward Markets Commission (FMC) with Sebi to create a unified capital markets regulator. Since then, all exchanges have become deemed stock exchanges. At 12:43 hrs IFCI was quoting at Rs 28.10, up Rs 3.40, or 13.77 percent and IDBI Bank was quoting at Rs 69.10, up Rs 2.25, or 3.37 percent on the BSE.

Sensex up over 100 pts, Nifty reclaims 7950.....!

IT & pharma lead Both IT and Pharma indices are up over 1 percent. Cipla, Lupin, M&M, TCS and Adani Ports are top gainers while Bharti, HDFC, Hero and GAIL are losers in the Sensex. The market continues to make gains with the Nifty reclaiming 7950. The 50-share index is up 35.15 points or 0.4 percent at 7943.40. The Sensex is up 105.53 points or 0.4 percent at 25912.63. About 1284 shares have advanced, 759 shares declined, and 144 shares are unchanged. Both IT and Pharma indices are up over 1 percent. Cipla, Lupin, M&M, TCS and Adani Ports are top gainers while Bharti, HDFC, Hero and GAIL are losers in the Sensex. Gold prices rose Rs 100 to Rs 27,001 per 10 grams in futures trade today as speculators created fresh positions, taking positive cues from global markets. Market analysts said rise in the precious metal at the global market mainly influenced gold prices at futures trade here.Meanwhile, gold climbed as much as 0.74 percent to USD 1,136.70 an ounce in Singapore today

Global M&A deal tally touch $3.1 trn mark in 2016......!

Report Global merger and acquisition activity has soared to USD 3.1 trillion so far this year -- its third highest deal value since 2007, even as deal value saw over 22 percent decline over last year, says a report. According to global deal tracking firm Mergermarket, despite a series of "political shockwaves", global M&A activity till date amounted to USD 3.1 trillion, through 16,194 deals. The M&A deal tally so far this year registered a 22 percent decline in value terms and 10 percent fall in number of transactions over last year. Last year, the global deal tally stood at USD 3.9 trillion. However, global M&

A activity till date of USD 3.1 trillion managed to reach its third highest deal value since 2007, when transactions worth USD 3.7 trillion were announced. The report further noted that October 2016, marked the peak of yearly M&A activity, with 1,362 deals worth USD 454.3 billion representing the highest monthly deal value since May 2007 when USD 546.7 billion transaction were announced. The year 2016 witnessed just 38 big ticket transactions (worth more than USD 10 billion) aggregating to USD 911.5 billion. In the corresponding period last year there were 57 such deals worth USD 1.5 trillion. Going forward, "the outlook for 2017 remains uncertain", Mergermarket said, adding that "with Brexit negotiations, the nature of Trump's Presidency as well as the French and German elections, all under question". Sectorwise, energy, utility and mining attracted deals worth USD 582.8 billion by way of 1,351 deals, followed by Industrials and chemicals (USD 498.5 billion, 3,056 deals) and technology (USD 401.4 billion, 2,115 deals). The report further noted that Chinese dealmakers engaged in 242 deals worth USD 171 billion outside of Asia, 3.5 times higher than 2015's previous record value. The US dealmaking accelerated towards the end of the year, with a flurry of mega deals (AT&T/Time Warner, Level 3/Century Link, Energy Transfer/Sunuco) bumping up the deal value....

Sensex ,Nifty volatile amid thin volumes; Maruti  most active....!

HDFC ,HDFC Bank, HUL, Reliance Industries and  Maruti Suzuki gained Industries and Maruti Suzuki gained 0.31 percent. ITC, Tata Motors,Infosys,TCS, Axis Bank, M& M and Adani Ports fell 0.7-1.4 percent.

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Many Sectors have been engulfed in the aftermath of the Demonetisation drive and the market

too is bearing the brust of the cash cjaos. Expressing disappointment due to cash ban, of IDFC securities says that the market any not see a recovery soon and there will be the three quarter of dismay. He said that the earnings growth will be impacted and earnings growth of non financial sectors can come down close to zero percent from 15 percent. Equity benchmarks as well as broader markets remained lack lustre amid low volumes ahead of chritmas holiday.Technology stocks were under pressure while HDFC group stocks led the support

The 30- share BSE sensex was down 11.65 points at 25967.95 and the 50- share NSE Nifty declined 9.60 points to 7969.50- the markets breadth was negative as about 954 advancing shares were red with little chritmas cheer in thin holiday trade China's Shanghai and Hong kong's were down over half a percent. Sun pharma climed more than 2% on short covering and acquistion of 14.58 percent in U.S based sc pharmaceuticals INC.