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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian equity markets remain in green 
(Thu, 28 Feb 11:30 am) 
 
Indian equity markets have generally traded in green during the previous two hours of trade. The most noticeable upward movements have been witnessed in the realty and capital goods sectors while healthcare and oil and gas have witnessed some selling pressures.

The BSE Sensex is up by 51 points and NSE-Nifty is up by 19 points. BSE Mid Cap index and BSE Small Cap index are trading higher by 0.07% and 0.48%. The rupee is trading at 53.71 to the US dollar.

Private Bank stocks are trading on a mixed note with Development Credit Bank and HDFC Bank leading the gains while Federal Bank and Karnataka Bank are leading the losses. According to a leading financial daily, HDFC Bank is expected to mop up US$ 500 m through five-year dollar denominated bonds. The issue will be priced 230 bps above US Treasuries. Standard Chartered Bank and Citibank are lead book-runners. Standard & Poor's has given a BBB-rating to HDFC Bank senior unsecured notes. State Bank of India (SBI) is also looking to raise US$500 m to US$1 bn through this route before March end, along with its peer Bank of India,which could also raise US$500m. In 2013, at least six companies have raised funds from overseas market at a cheaper price than previous years. These included two banking names: Exim Bank and ICICI Bank. EximBank has mopped up US$750 m through10-yeardollar bonds at 4.119% and attracted subscriptions worth $6.4 billion. ICICI Bank has also raised SGD225 m through a 7-year Singapore dollar denominated bond in January carrying a fixed coupon of 3.65%.

All but two mining stocks, NMDC Ltd and MMTC Ltd are trading in green with Coal India leading the pack. According to a leading financial daily, Coal India, the world's largest coal miner is planning to acquire at least one foreign coal asset in the next financial year, FY14. The move is intended to plug the shortfall in domestic production of coal. The Company has invited bids from interested parties and the Expression of Interest (EoI) will be open till May 2013.The financial daily has further reported that there are seven offers for sale of assets by coal companies in Australia and Indonesia, out of which 3 EOIs' are from companies based in Australia. Coal India has to ensure that the investment(s) yield a minimum return of 12% as per a government norm. In 2011, the Company had sought EoIs' for acquiring foreign assets and had received around 60 bids.

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Jul 26, 2017 03:36 PM

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