Top Newz in this week (19-Jan-2014)
TCS, HCL Tech, Wipro beats the expectation in Q3 results, Edelweiss ECL Secured NCD opens for subscription, Yes Bank and Axis Bank net rises and beats street, ICRA revised the outlook for gold loan companies etc. are some of the top news in the investment world and personal finance in this week.
Whatz happening in Financial Markets?
Sensex gained 305 points this week. Currently SENSEX is at 21,063.
- Top 5 Gainers are BHEL 5%, HDFC 5%, Infy 5%, Cipla 5% and L&T 5%
- Top 5 Losers Bharti 6%, Coal India 6%, TCS 3%, Sun Pharma 3%, Tata Power 2%
Rupee has gained this week against the dollar. Currently trading at Rs 61.54 / dollar compared to the previous week of Rs 61.91 / dollar.
Top newz in the investment and personal finance world
1) Yes Bank Q3 rises by 21.4%: Private bank, Yes Bank has beaten street expectation in Quarter 3 results. It posted a net profit rise of 21% and its profit increased from Rs 342 Crores from Q3 of last year to Rs 415 Crores Q3 of this year.
2) Edelweiss ECL Finance NCD opens subscription this week: Edeiweiss ECL Finance NCD, which is offering yield up to 12.52% interest rates opened for subscription this week. These have been rated as AA by Care and BWR. These are available in 3 years and 5 year tenure. Though the interest rate are 11.85%, annualized yield works out to be 12.52%. Since these are secured in nature, one can look for the subscription.
3) Manapuram NCD over subscribed: Couple of weeks back, Manappuram has issued secured NCD which offered highest interest rates. It indicated that NCD subscription got oversubscribed 1 day before closure of the NCD issue. Due to high interest rates and secured in nature, investors felt it is good investment option to subscribe.
4) ICRA revises ratings for Manappuram and Muthooth Finance: After RBI eases norms for gold loan companies, ICRA has revised the outlook for gold loan companies like Manappuram and Muthooth Finance from “Negative” to “Stable”. RBI eases the gold norms for gold loans companies that such companies can now offer loans up to 75% of the gold value. The earlier such limit was up to 60% only.
6) Chemtech Industrial Valves IPO opens for subscription: Chemtech Industrial Valves, SME IPO have opened for subscription on 15th January. It is issuing 49.32 lakhs of shares @ Rs 15 each. Our view was “neutral” on this SME IPO.
7) Axis Bank net jumps by 19% in Q3: Axis bank has announced its 3rd quarter results and its net rised by 19% to Rs 1,604 Crores. It has beaten analysts prediction.
8) Top IT companies posts good Q3 results: TCS net profit jumped by 50% to Rs 5,314 Crores. Its attrition is 10%, which is low compared to industry standard of 15% to 18%. HCL Tech has also recorded 58% growth in its profits to Rs 1,496 Crores. Wipro posted 27% in its profits at Rs 2,040 Crores.
9) Shriram Life launches 7 new products: Shriram Life has launched 7 new products which include 4 ULIP’s and 3 traditional insurance plans. However, recently IRDA published claim settlement ratio for 2012-13 year and Shriram Life insurance was at the bottom which has a low settlement ratio. We are providing detailed analysis on the claim settlement ratio of 2012-13 of various companies on Monday article.
10) Gold and Silver: Gold prices have fallen by 1.4% this week. Surprisingly, Silver prices have gained by 1.6% this week. Current gold prices are at Rs 29,279 for 10 grams. Silver is at Rs 45,190 per Kilogram
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