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Foreign investors’ appetite to acquire limits for Indian government securities seems to have gone down somewhat with the highest bid on Monday’s auction coming in at 62 bps against the 82 bps seen on October 12.Against an available limit of Rs 852 crore that was put up for auction on Monday, FPIs put in bids worth Rs 1,678 crore — almost twice the notified amount.
On October 12, however, foreign investors had put in bids worth Rs 17,266 crore to acquire limits on a notified amount of Rs 5,600 crore — three times the notified amount.
Price cartels, which enjoyed a more or less free run in the commodity futures market till recently, will soon be on watch.
The Securities and Exchange Board of India (Sebi), which only a month ago undertook regulation of the decade-old commodity futures market, will modify its state-of-the-art integrated market surveillance system (IMSS) used in the equity market, to track unusual price spikes and trading patterns in farm futures on bourses like NCDEX and MCX.
The state-run coal miner Coal India (CIL) reported a production growth of over 10% to 44.37 million tonne (mt) for October, which helped the company post an production increase of 9.2% for April-October period of the current fiscal to 273.91 mt, compared to the corresponding period of the last fiscal.
The company also improved evacuation of coal to consumers by 9.9%. For the first seven month of this fiscal, CIL managed to raise its off-take by 9.2% to 295.80 mt.
Indian Bank has posted an 18 per cent growth in net profit at Rs 369 crore during the September 2015 quarter, compared to Rs 314 crore in the year-ago period.
The total income increased to Rs 4,579 crore during the quarter under review from Rs 4,340 crore a year ago.“The operational profit has increased sequentially.
Depreciation retrieval is around Rs 100 crore. The provision on slippages came down even though the provision coverage ratio was increased as part of prudent banking activities,” said Mahesh Kumar Jain, managing director and CEO (additional charge), Indian Bank.
FINANCIAL MANAGEMENT CORPORATE WATCH
Bharti Airtel will have revenue growth of 8-10%: Moody’s
Nov 03, 2015
Country’s largest telecom operator Bharti Airtel will have a revenue growth of 8-10 per cent over the next 12-18 months on strong demand for data services and affordable smart phones, Moody’s Investors Service said on Monday.
The aggregate average revenue of telecom operators in Asia Pacific will increase 3-4 per cent over the next 12-18 months, similar to 2014 growth rate of 3.8 per cent and trending in line with forecast average GDP growth for the region and its outlook for the industry is stable, it said.
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