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The total fund raising by companies through issuance of debt securities on BSE's electronic book platform has crossed the Rs 2 lakh crore milestone.
The BSE's electronic book platform 'BSE BOND', for issuance of debt securities on private placement basis, was launched on July 1, 2016.
Since then, 68 companies have come out with 383 bonds and have successfully raised Rs 2,00,111 crore using BSE's debt platform, the stock exchange said in a statement today.
Highway developer Dilip Buildcon Ltd. has emerged as the successful bidder for road projects worth Rs 3,269 crore in Maharashtra, the company said in an exchange filing.
The projects include 4-laning of Mahagaon to Yavatmal section of NH-361 (package II) on hybrid annuity mode at a project cost of Rs 1,160.64 crore and four-laning of Yavatmal to Wardha section of NH-361 for Rs 1,043.28 crore.
The other project is 4-laning of Warciha-Butibori Section of NH-361 at a cost of of Rs 1,065.51 crore.
Shares of the company were trading higher by 1.25 percent at Rs 353.25.
Sunil Hitech Engineers Ltd. has won a Rs 982 crore highway project in Maharashtra to widen a stretch on NH 211.
The National Highways Authority of India (NHAI) awarded the contract for constructing and widening the existing 2-lane Bodhre to Dhule road section of NH-211 to four/six lane in Maharashtra for a bid project cost of Rs 982 crore on Hybrid annuity Model (HAM) basis, the company said in its filing to the exchanges.
The stock was trading higher by 7.17 percent at Rs 11.95.
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Vedanta Resources Plc, informed the exchanges that the National Company Law Tribunal has given its approval to the company’s merger with Cairn India Ltd.
Shares of Vedanta surged as much as 3.8 percent to Rs 270 while Cairn India gained 4.6 percent to Rs 305.80, the highest since October 2014.
Shares of the chemical company BASF India Ltd. rose as much as 4.9 percent to Rs 1,275, the highest since February 2, 2017 on news that the company is planning to divest its leather chemical business to Luxembourg-based Stahl group for an undisclosed amount. The deal is expected to close in the fourth quarter of 2017, the company said in a regulatory filing.
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Shares of Vedanta's unit Hindustan Zinc Ltd. jumped as much as 3.3 percent to Rs 322.10 after the company approved a special interim dividend of Rs 27.50 per share for the financial year 2016-17. The stock has gained 25.2 percent in 2017 compared to the benchmark S&P BSE Sensex index, that has gained 10.1 percent this year.
Brokerage house Citi has retained its 'neutral' stance on Hindustan Zinc reducing its target price to Rs 300 from Rs 340. Though the brokerage remains bullish on Zinc, it believes that with valuations remaining at historical peaks, a fair bit of optimism has already been priced into the stock.
Shares of Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd., and Hindustan Petroleum Corporation Ltd. were trading higher between 1.9-3 percent ahead of their board meetings to consider interim dividend.
In January 2017, while HPCL had declared an interim dividend of Rs 22.50 per share, BPCL and IOC declared interim dividend of Rs 19.50 and 13.50 per share respectively.
Creditors of India’s largest paper maker Ballarpur Industries Ltd. may face costly unintended consequences from punitive U.S. duties on some of the company’s Asian competitors.
Ballarpur invested heavily in recent years to modernize its production facilities, and now may not be able to avoid defaulting on its debts, Fitch Ratings Ltd. said.
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Government-owned Bank of India Ltd., through an exchange filing said that the bank has sold its entire 5 percent stake comprising of 12.5 lakh shares in TransUnion CIBIL Ltd. to TransUnion International Inc.
The deal, concluded on March 22, 2017 was completed at the rate of Rs 1,525 per equity share for a total consideration of Rs 190.62 crore.
Shares were trading higher by 0.52 percent at Rs 126.45. The stock has outperformed the benchmark Sensex index in 2017, gaining 18.1 percent compared to the 10 percent gained by the Sensex.
Shares of Anil Ambani-led Reliance Communications Ltd. gained after the Competition Commission of India approved the proposed sale of the tower division of its subsidiary Reliance Infratel Ltd. to Towercom Infrastructure Pvt. Ltd., a unit of Brookfield Infrastructure Group.
Brookfield will acquire 100 percent of Towercom Infrastructure Pvt. Ltd. post the demerger through a scheme of arrangement and subject to certain approvals.
Shares were trading higher by 1.74 percent at Rs 38.10 per share.
Movers & Shakers: Cairn India, Hindustan Zinc, Delta Corp
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The rupee strengthened by 5 paise to 65.39 per dollar in early trade on some selling of the U.S. currency by exporters and banks. Stock markets opening with gains also boosted the domestic currency, dealers said.
The rupee had lost 14 paise to close at 65.44 per dollar on fresh dollar demand from importers. In global trade, the US dollar had strengthened against major world currencies with the dollar index inching up by 0.08 per cent against a basket of currencies yesterday.
PTI
A global selloff in equities that spurred demand for haven assets appears to be settling down. Bloomberg Dollar Spot Index has gained 0.1 percent today after a six-day slump.
With risk appetite gradually returning, Asian currencies are trading stronger with the South Korean won rising 0.4 percent against the dollar.
The rupee, which dropped 0.3 percent to 65.4425 a dollar in the last session, is likely to regain some lost ground against the greenback. Also, the market will be closely tracking Janet Yellen's speech later in the global day.
Sovereign bonds rallied in the last session as lower prices attracted whole host of buyers, sending the yield on the 10-year note down 8 basis points to 6.81 percent. For today, the market is likely to take a breather from the rally and yield could rise a couple of basis points in line with US Treasuries.
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