NSE WEEKLY NEWS UPDATE

✍ Moody's upgrades multiple ratings of Tata Group companies

Moody's Investors Service has upgraded the ratings of several Tata Group companies to reflect its expectations of parental and systemic support in the case of need, which has been exhibited both in the form of extraordinary financial support from Tata Sons Ltd (unrated), the ultimate parent, and ongoing support through their close association with the Tata brand.Moody's has upgraded the ratings of Tata Consultancy Services, Tata Motors, Tata Steel, Tata Steel UK Holdings, Tata Power and Tata Chemicals.

✍ Zee Entertainment hits 14-year high on entry into Nifty
Zee Entertainment Enterprises has moved higher by 3.6% to Rs 317, also its 14-year high on National Stock Exchange, after its entry into the 50-share CNX Nifty index from today.Zee Entertainment Enterprises which replaced United Spirits was the largest gainer among Nifty stocks.
Shares of broadcasting and cable TV operator were currently trading at its highest level since June 2000. It rallied 11% in past three trading sessions compared to 2.4% rise in benchmark index.

✍ Tech Mahindra gains on pact with Bosch
Tech Mahindra has gained by over 2% to Rs 2,478 after the company announced that it will work with Bosch Software Innovations to develop an ecosystem to offer solutions for smart cities with billions of things inter-connected via the Internet.

✍ Reliance Jio signs tower sharing agreement with GTL Infra
Reliance Jio Infocomm Limited (Reliance Jio), the telecommunications arm of Mukesh Ambani led Reliance Industries Limited (RIL) on Thursday announced tower sharing agreements with GTL Infrastructure Limited (GTL Infra), a Global group enterprise, engaged in the business of shared passive telecom infrastructure in India.

✍ HCL Tech rises on expansion plans in the US
Shares of HCL Technologies were up over 3% at Rs 1,687, after hitting a record high of Rs 1,711, following the company's plans to expand its global delivery centre in the State of North Carolina, US.
HCL Technologies will expand its existing global delivery centre in Wake County and create an additional 1,237 jobs in Cary by the end of 2018, the company said in a release to the stock exchange.

✍ Aegis Logistics surges 7% ahead of board meet
Aegis Logistics has surged 7% to Rs 396 on NSE, ahead of board meeting today, 19 September 2014, to consider and approve sale of a minority stake in one of company’s subsidiary.
The stock opened at Rs 375 and touched a fresh 52-week high of Rs 402 on BSE. The trading volumes on the counter more than doubled with approximately 172,000 shares changing hands so far on BSE and NSE combined.

✍ BL Kashyap rallies over 100% post HDFC Mutual Fund stake buy
BL Kashyap and Sons was locked in upper circuit of 5% at Rs 18.67, extending its past nine day rally on BSE, after HDFC Mutual Fund bought more than one million shares of the company from the open market.On September 9, HDFC Mutual Fund bought 1.42 million shares at Rs 9.20 per share in a bulk deal.
The stock is currently trading at its highest level since August 2011, appreciated by 107% from Rs 9 on September 8, compared to about 1% decline in benchmark S&P BSE Sensex.At 1355 hours, a combined 2.56 million shares changed hands and there are pending buy orders for 912,654 shares on BSE and NSE.

✍ Indian Infoline Group to raise Rs 1,500 crore via NCDs, eyes Rs 1 lakh-crore AUM
Nirmal Jain promoted Indian Infoline Group (IIFL) that manages wealth of over 10,000 HNIs sees its assets under management ( AUM) to grow over Rs 1,00,000 crore in next couple of years.

✍ IndiGo inks $2.6bn deal with ICBC to fund 30 planes
Ahead of placing yet another mega order for aircraft, India's largest domestic airline IndiGo has signed a $2.6-billion deal with Industrial and Commercial Bank of China Ltd (ICBC) for financing over 30 Airbus A-320s. The big ticket deal was announced on the day Chinese President Xi Jinping is in India.

✍ Snowman Logistics doubles in week on investor buying frenzy
Investors have consistently been showing huge buying interest in Snowman Logistics from its listing day. The stock shot up 101 percent in a week to touch a record high of Rs 94.65 (compared to issue price of Rs 47) on hopes of strong growth going ahead. The largest cold chain solutions provider had reported a 40-50 percent growth (on compounded annual growth rate basis) in revenue and profit in last four years. In the year ended March 2014, total income from operations and reported profit after tax in FY14 grew by 35 percent to Rs 153.41 crore and 18 percent to Rs 22.48 crore while operating profit margin expanded to 24.7 percent from 22.4 percent year-on-year.


✍ Kotak Mahindra AMC buys schemes of PineBridge Mutual Fund
Kotak Mahindra Asset Management Company Ltd, a wholly owned subsidiary of Kotak Mahindra Bank, today announced that it has executed definitive agreement to acquire the domestic schemes of PineBridge Mutual Fund (PBI MF), subject to regulatory approvals.
PBI MF is managed by PineBridge Investments Asset Management Company (India) Pvt Ltd.As of August 31, 2014, the Assets under Management (AUM) of Kotak Mahindra Mutual Fund were at approximately Rs. 37,000 crore and the AuM of PBI MF was approximately Rs. 660 crore.

✍ Shemaroo public issue gets 7 times subscription
The initial public offer of Shemaroo Entertainment has been oversubscribed by seven times on the final day of the offer, according to information available with the exchanges. The ₹130-crore issue, priced in the range of ₹155-170 a share, saw good demand from all categories of investors.
The institutional investor category was subscribed 5.7 times and the high net worth investor segment was subscribed 8.6 times. The portion of retail investors, who were offered 10 per cent discount, was subscribed 7.8 times.
Shemaroo had raised about ₹36 crore from anchor investors, which included Birla Sun Life MF and HDFC MF, at ₹170 a share ahead of its IPO.

✍ Indosolar bags contract worth Rs. 15.80 cr
Indosolar has informed the exchanges that the company has entered into a solar cell supply contract of 5.50 MW, valued at approximately ₹15.80 crore under the Domestic Content Requirement of the National Solar Mission with EMMVEE Photovoltaic Power Private Ltd, Bengaluru. The stock of Indosolar closed at ₹6.95, up 4.5 per cent over the previous day’s close on the NSE.

✍ Kirloskar Brothers forms new subsidiary
Kirloskar Brothers Investments has informed the exchanges that consequent to the board meeting held on September 2, the company has incorporated a wholly owned subsidiary named Pneumatic Holdings Ltd. The company has received certificate of incorporation on September 16 from the Registrar of Companies, Pune, for the subsidiary. The stock edged up 0.55 per cent to ₹3,634.05, on the BSE.

✍ Sun Pharma shares up 3% on Merck licensing pact
Shares of Sun Pharmaceutical Industries today rose nearly 3 per cent after the company entered into a licensing agreement with Merck & Co Inc for using investigational therapeutic antibody candidate, tildrakizumab, for the treatment of plaque psoriasis. Sun Pharma’s stock gained 2.49 per cent to Rs. 812.10 on the BSE. On the NSE, the scrip was up 2.62 per cent at Rs. 813.20.
Under the terms of the agreement, Sun Pharma will acquire the worldwide rights of tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80 million, the companies had said in a joint statement yesterday.

✍ YES Bank out of MSCI Standard index
Shares of private lender YES Bank will remain under pressure as MSCI Inc will delete the stock from its Global Standard Index effective Thursday. The MSCI Standard Indexes cover all invest-able large- and mid-cap stocks across developed, emerging and frontier markets and target approximately 85 per cent of each market's free- float adjusted market capitalization. Last week, the RBI had said that FIIs will need prior approval to buy YES Bank shares.
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