NSE WEEKLY NEWS UPDATE

✍ RBI cuts SLR, allows new ‘unbreakable’ bank Fds
Banks will have headroom to lend an additional Rs 42,000 crore following the RBI's move to cut SLR by 50 basis points. SLR, or statutory liquidity ratio, is the portion of deposits banks must invest in government bonds. RBI also introduced a new category of 'unbreakable' fixed deposits which cannot be withdrawn prematurely where banks will offer higher interest rates. Although RBI governor Raghuram Rajan left key rates unchanged in his policy review on Tuesday, he surprised banks by bringing down the SLR prescription to 21.5% from 22%. He left the repo rate the rate at which RBI lends overnight funds to banks unchanged at 7.75%. RBI also retained the cash reserve ratio(CRR)—the portion of deposits that banks have to maintain with RBI at 4%.

✍ HDFC Bank raises Rs 9,800cr via QIP, ADR
HDFC Bank, one of the leading private sector banks in India, on Thursday raised nearly Rs 9,800 crore through a combination of foreign and domestic offerings. The fund-raising was aided by the government's recent clearance for foreign investors to invest in the bank. HDFC Bank had a shareholder permission to raise up to Rs 10,000 crore through issue of shares.On Thursday, the bank raised about Rs 7,800 crore through an American depositary receipt (ADR) offering on the New York Stock Exchange where it is already listed. It offered 2.2 crore ADRs at $57.76 each, with each depositary share representing three shares of the bank. It also sold about 1.87 crore new shares in the domestic market at Rs 1,067 per share, aggregating to Rs 1,985 crore through a qualified institutional placement (QIP) offering that was oversubscribed over four times.

✍ Repco Home Finance profit up 27%
Repco Home Finance's loan book grew 27% and stood at Rs 5,500.65 crore as on December 31 2014 as against Rs 4,319.36 crore during the same period last year. Loans to the self-employed segment accounted for 55.9% of the loan outstanding book. Expansion in the book was driven by expansion in sanctions and disbursements, during the year, which grew by 22% and 19%. The profit of the company during the third quarter ending December 31, 2014 rose 13% to Rs 30.74 crore year on year.

✍ Vedanta top bidder in coal mine auction
Vedanta Group of NRI metals-and-mining baron Anil Agarwal has put in 25 bids for 14 out of 23 producing coal blocks being auctioned by the government for the first time. Data available after close of technical bids late on Tuesday show foreign miners or their domestic arms staying away, with domestic players displaying an aggressive stance.The blocks on offer drew a total of 176 bids. Industry estimates suggest these blocks may fetch tens of thousands of crores of rupees in revenue for the government. The 23 mines have geological reserves of over 1,500 million tonnes (MT) and many firms have given multiple bids for one coal block. The Vedanta group used its various arms to put in multiple bids, some of them even competing for the same block. Aditya Birla, Adani and Naveen Jindal groups were the other entities that have bid aggressively.

✍ Canara Bank Q3 net profit rises 60% at Rs 656 crore
State-run Canara Bank on Wednesday reported 60.2 per cent increase in net profit at Rs 655.92 crore for the quarter ended December despite an increase in bad loans. The Bangalore-based lender had posted a net profit of Rs 409.35 crore for the October-December quarter of 2013-14 fiscal. The bank's total income increased to Rs 12,227.86 crore for the quarter under review from Rs 10,935.29 crore in the year-ago period, Canara Bank said in a filing to the BSE.

✍ Bharti Airtel Q3 profit jumps over two-fold at Rs 1,436.5 crore
Bharti Airtel, the country's top mobile operator, saw third quarter net more than double, led by a strong growth in data revenues and stable earnings from the voice business. The company said that net profit in the three months ending December 31, 2104, stood at Rs 1,436 crore against Rs 610 crore in the same period a year ago. Total revenues for the company grew by 6% to Rs 23,228 crore in the reported quarter compared to Rs 21,961 crore in the same period of last fiscal.

✍ RIL hits overseas debt market again, may raise $1 billion
Reliance Industries has hit the forex debt market second time in as many weeks to raise about $1 billion in a benchmark 30-year dollar-money note sale to international investors. On January 22, the company had raised $1 billion by selling 10-year bonds at an interest rate of 4.125 per cent, which the company claimed was the lowest in Asia and with almost no new-issue premium. In 2014, the company had raised over $3.3 billion in forex debt. The issue has been rated Baa2 by Moody's Investors Service with a stable rating and the proceeds from the issue will be used to fund the company's capital expenditure of Rs 1.8 trillion over the next few years.

✍ Bharti Infratel consolidated Q3 profit rises 23 per cent to Rs 507 crore
Telecom tower provider Bharti Infratel reported a 23% year-on-year increase in its consolidated net profit for the quarter to December 2014, on the back of increased capex investments by carriers, rising tenancies and lower energy costs. The company, a unit of India's top mobile phone operator Bharti Airtel, said consolidated net profit for the fiscal third quarter rose to Rs 507 crore from Rs 411 crore, while revenue grew 9% to Rs 2,949 crore. Profit and revenue beat Credit Suisse estimates, which expected a 20% rise in net profit and 7% increase in revenue.

✍ Hero MotoCorp Q3 net up 11% at Rs 583 crore
Country's largest two-wheeler maker Hero MotoCorp on Tuesday posted 11.11 per cent rise in its net profit at Rs 582.98 crore for the quarter ended December 31, 2014. The company had a profit of Rs 524.66 crore during the same period of previous fiscal. Net sales of the company, however, declined marginally to Rs 6,792.51 crore during the October-December period, as against Rs 6,845.91 crore during the same period of previous fiscal, Hero MotoCorp Ltd said in a statement.

✍ ICICI Bank Q3 net at record Rs 2,889cr
ICICI Bank on Friday reported a record net profit of Rs 2,889 crore for the quarter ended December 2015 — an increase of 14% over Rs 2,532 crore in the corresponding quarter last year. The bank has said that it is considering partnering a company that is successful in its application for a payments bank licence. On a consolidated basis, the bank posted a consolidated net profit of Rs 2,872 crore for the October-December quarter of last fiscal. Provisioning for bad loans and contingencies rose to Rs 980 crore in the third quarter of 2014-15 as compared to Rs 695 crore in the same period of the last fiscal. As on December 31, ICICI Bank's gross NPAs rose to 3.40% of gross advances as against 3.05% in the same quarter of the previous fiscal. Its net NPAs rose to 1.90% during the period under review from 1.76% earlier.

✍ Tata Motors' sales up 5.19% in January
Tata Motors on Monday reported a 5.19 per cent increase in total sales at 42,582 units in January, as against 40,481 units in the same month last year. Domestic sales of Tata commercial and passenger vehicles grew by 5.35 per cent at 38,621 units as compared to 36,657 units in January 2014, Tata Motors said in a BSE filing. Sales of passenger vehicles in the domestic market in January stood at 13,047 units, up 18.89 per cent from 10,974 units in January 2014.




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