Top Newz in this week (6-Dec-13)
HUDCO tax free bonds hit the market this week, powergrid FPO subscribed for 6.72 times, good time to buy Infosys stock, Govt is planning to launch inflation indexed national securities in second half of Dec-13 are some of the top news this week.
Whatz happening in Financial Markets?
- The Stock market SENSEX has gained 779 points this week and SENSEX currently is at 20,996 levels. Analysts predict that SENSEX can now move to new highs and cross 21K mark.
- Top 5 Gainers are Tata power 11%, Jindal Steel 10%, BEHL 10%, ICICI Bank 7% and Coal India 6.6%
- Top 5 Losers are Hind Unilever 5.7%, ITC 2.7%, Dr.Reddy 2.5%, Tata motors 2% and Hindalco 2%
- If you observe thought market has fallen in previous 3 weeks and recovered sharply in last 1 week only. Stocks like Jindal Steel which gained last week continued to gain in this week too.
- The rupee has appreciated this week against the dollar. Currently trading at Rs 61.41 / Dollar comparing to previous week of Rs 62.87 / Dollar.
Top Newz in the investment world
1) HUDCO Tax free bonds: HUDCO tax free bonds hit market this week. These tax free bonds offer 9.01% interest rates for a 20 year tenure. The issue would be opened up to 10-Jan-2014.
2) Power Grid NFO : Power Grid NFO which came up for subscription this week has been subscribed for 6.7 times. The price band was Rs 85 to Rs 90 per share. Currently the share is trading at Rs 100 on stock exchanges.
3) Infosys margins may boost: Mr. Narayana Murthy informed that cost cutting measures implemented today would yield results very soon and profits for the company would improve in coming quarters. With such indication from management, there are good chances that company can earn higher profits and share price can go up in near future.
4) NTPC Tax free bonds : This week even NTPC tax free bonds also hit the market along with HUDCO bonds. NTPC bonds offer lower interest rates of 8.73% comparing to HUDCO tax free bonds.
5) Wipro to come out of PC Manufacturing business: One of the low margin making division of Wipro is going to be shut down very soon. PC Manufacturing is the Wipro’s low margin business. Currently Wipro has stopped manufacturing PC’s across its factories. It also shifted several employees to other offices. Such steps may show dip in revenues, but improves margins.
6) Micro finance companies take NCD’s root to raise funds: Microfinance companies are now taking the NCD route for raising funds. SKS Micro Finance is planning to raise Rs 200 Crores through NCD’s shortly.
7) NSEL Crisis, 30+ brokers are under scan: There are more than 30 brokers who are currently under scanner for charging high transaction charges and providing margin funding services to clients in violation of regulations.
8) Investors withdraw FD, dump in bonds: The trend seen now is investors are withdrawing fixed deposits from banks and dumping them in tax free bonds which are providing similar returns, but they are tax free.
9) Govt to launch inflation indexed national securities in the second half of Dec: Government is all set to launch inflation indexed national securities bonds. These would contain fixed rate of 1.5% and inflation rate linked to the CPI. These can be redeemed early after 1 year by senior citizens and after 3 years by others. However there is a penalty of 50% on the coupon rate if you redeem early then redemption date.
10) Gold and Silver prices fall: Gold prices have fallen heavily by 6% and Silver prices by 5% this week. Current gold prices are at Rs 28,935 for 10 grams. Silver is at Rs 44,000 per Kilogram
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