NSE WEEKLY NEWS UPDATE

✍ Sebi cancels Sahara’s portfolio management licence
Market regulator Sebi on Friday cancelled the portfolio management licence of Sahara Asset Management (AMC). Under this business, Sahara AMC managed nearly Rs 77 lakh worth of funds for six clients as of January 2015, according to the Sebi order. The Sebi decision, however, will not impact Sahara's mutual fund business under which the conglomerate managed assets worth nearly Rs 148 crore as of December 2014.
✍ Bonds recover, call rates end higher
Government bonds (G-Secs) recovered on fresh buying support from banks and corporates and the overnight call money rate ended higher at the money market due to good demand from borrowing banks amid tight liquidity in the banking system. The 8.40 per cent government security maturing in 2024 rose at Rs 104.45 from Rs 104.36 previously, while its yield edged-down to 7.72 per cent from 7.74 per cent. The 8.60 per cent government security maturing in 2028 climbed at Rs 107.06 from Rs 106.99, while its yield inched down to 7.74 per cent from 7.75 per cent.
✍ Govt to divest ONGC after crude settles around $70
The government would wait till crude prices stabilize at around $70 a barrel before selling 5% in ONGC, moving disinvestment in the country's most profitable company to the 2015-16 fiscal starting April 1. Government sources on Wednesday said the "time was not ripe" for offloading stake in refiner-marketer IndianOil, though the matter was "in discussion" within the government.The ONGC selloff was initially supposed to have happened in November 2014 and was estimated to fetch some Rs 14,000 crore. But falling crude prices changed the valuation template and took a toll on the company's financial health.
✍ Bharti Airtel to raise $415 million through sale of shares of Bharti Infratel
Bharti Airtel, India's biggest mobile phone operator by users, is raising as much as $415 million through the sale of shares in mobile tower unit Bharti Infratel, two sources directly involved in the process told Reuters. The base size of the offering is $315 million with an option to raise it by another $100 million, said the sources, who declined to be named as the details of the offering was not public yet.
Second round of coal auction to be held on March 4The government has put off the second round of auction of 21 coal blocks to early next month. The auction of mines in the second tranche was earlier scheduled to begin from Wednesday. "The auctions (of second lot of coal mines will) begin on March 4," a coal ministry official said.
✍ ITC to buy Park Hyatt Goa for Rs 515 crore
ITC is on an acquisition spree. Within a fortnight of a major buy in the personal care products space, the Rs 45,000-crore conglomerate looks set for an over Rs 500-crore acquisition in the hospitality sector. On Monday evening, the FMCG-to-hotel-to-tobacco giant was declared the highest bidder — at the bid price of Rs 515 crore — by IFCI for Park Hyatt Goa, a five-star deluxe property of Delhi-based Blue Coast Hotels Group. Park Hyatt Goa was put up for sale by IFCI under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.
✍ JSPL, DLF shares fall on exit from Nifty from March 27
Shares of realty major DLF and Jindal Steel & Power today witnessed selling pressure after the announcement that both the firms will be dropped from the National Stock Exchange's benchmark index Nifty from March 27. Jindal Steel & Power tumbled 4 per cent to Rs 186.45 on the NSE. Similarly, DLF's scrip fell by 2.6 per cent to Rs 147.40. Telecom firm Idea Cellular and private sector lender Yes Bank would be included in the 50-share benchmark index.
✍ Hindalco shares surge over 3% as company bags maximum mines
Shares of Hindalco Industries rose over three per cent today after the company bagged the maximum number of mines in the first phase of auction. The company won three mines that includes two in Chhattisgarh and one in Jharkhand. The companies that have bagged the 19 blocks put up for auction in the first phase include Reliance Cement, GMR Chhattisgarh, Hindalco, Sunflag Iron and Steel, Jaiprakash Associates, Jaiprakash Power Ventures, OCL Iron and Steel, Bharat Aluminium, Essar Power MP, Jindal Power and UltraTech Cement.
✍ DLF to sell 50% in 4 projects to raise 3,000cr
Realty major DLF plans to divest around 50% stake each in four new housing projects to private equity firms for over Rs 3,000 crore, a senior company official said on Sunday. India's largest real estate firm expects to close some of the deals by June and would use the funds to improve its cash-flows that have been affected due to slowdown in housing demand. "We are looking for private equity in 4 greenfield housing projects in Delhi-NCR and South India," DLF CFO Ashok Tyagi said. He said discussions with few private equity players have started but declined to disclose their names. Tyagi said, "We are targeting to raise about Rs 2,500 crore by June from 2-3 deals".

✍ Top six Sensex companies add Rs 57,869 crore in market valuation
The top six Sensex companies together added Rs 57,869.38 crore in market valuation last week, with bluechips such as TCS, ITC and HDFC stealing the show. Barring ONGC, RIL, Infosys and SBI, rest of the six companies in the top 10 list saw a rise in their market capitalisation for the week ended Friday (February 20). In the ranking of top 10 firms, TCS stood at the number one position, followed by ITC, ONGC, RIL, HDFC Bank, Infosys, CIL, SBI, HDFC and HUL.
✍ Sebi bans company in Rs 1,700cr rigging case
The Securities & Exchange Board of India (Sebi) on Friday banned trading in little-known Kamalakshi Finance, while imposing restrictions on 33 entities, for what it believes was price manipulation of the order of Rs 1,700 crore, making it the 27th company where trading has been suspended.The move is part of Sebi's efforts to check possible misuse of stock market trades to ramp up prices of shares allotted through preferential allotment. In his latest order issued on Friday, Sebi member Rajeev Kumar Agarwal has sought a detailed investigation by the regulator for probable violation of securities laws, while asking the income tax department for necessary action. While 24 entities have been barred from the entire capital markets, nine others have been restrained from trading in shares of Kamalakshi Finance.
✍ ITC plunges over 11 pc after excise duty hike on cigarettes
Cigarette stocks, led by ITC, fell sharply on Saturday, following the Budget proposal to increase excise duty.ITC tanked 11.12 per cent to Rs 350 on the BSE. The stock was the biggest loser among the 30 blue-chips which constitute the stock market benchmark, Sensex.The heavyweight stock surrendered its initial gains after the announcement.Shares of Godfrey Phillips India tumbled 5.44 per cent, VST Industries fell by 3.98 per cent and Golden Tobacco was down 2 per cent on the BSE. “Excise duty on cigarettes is being increased by 25 per cent for cigarettes of length not exceeding 65 mm and by 15 per cent for cigarettes of other lengths. Similar increases are proposed on cigars, cheroots and cigarillos,” said Finance Minister Arun Jaitley in his Budget Speech.

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