Here are stocks that are in news today:
Fitch
-Takes rating action on Indian banks
-Downgrades Indian Bank's long-term issuer rating to BB+ versus BBB-
-Downgrades Punjab National Bank (PNB) and Bank of Baroda (BoB) by 1 notch to BB+
-Affirms PNB and BoB's long-term issuer rating at BBB-
-Affirms long-term rating of SBI, Canara Bank and IDBI Bank's at BBB-
-Affirms long-term rating of ICICI Bank and Axis Bank's at BBB-
-Indian PSU banks more sensitive to further economic slowdown
Moody's
-Downgrades SBI’s debt rating to BAA3 from BAA2
-Downgrades SBI’s unsecured debt, deposit rating to BAA3 versus BAA2
-Cuts outlook on SBI’s financial strength rating to negative
Moody's says
-SBI continues to face negative pressure on economic slowdown
-SBI likely to seek another capital injection from government
-Not appropriate to assign higher rating to bank than sovereign
NSEL versus Members:
-Bombay HC refuses any ad-interim relief to National Spot Exchange (NSEL)
Alert: NSEL had sought injunction on properties of NK Proteins, Tavishi
-HC refusal bars NSEL from moving on properties of members
-Bombay HC: Parties can resolve issues in arbitration
Department of Economic Affairs secretary Arvind Mayaram to CNBC-TV18
-Have submitted NSEL report to finance minister
-Given comprehensive overview of situation in NSEL report
-NSEL report details immediate action required
-NSEL report also details long-term measures
CNBC-TV18 Exclusive: Finance ministry sources say
-Mayaram panel submits NSEL report to FM
-Mayaram panel report examines systemic implications of NSEL matter
-Mayaram panel report lists acts violated by NSEL
-FM in process of examining NSEL report
-FM to decide future course of action after reading report
Government sources say
-Financial Technologies may not meet some criterions of fit & proper
Alert: Financial Technologies is promoter of NSEL, anchor investor in MCX
-Forward Markets Commission (FMC) in process of examining action against Financial Technologies
-Action against Financial Technologies for not meeting fit & proper criterions
BSNL, MTNL to sign pact for offering pan-India mobile services: PTI sources
-Pact to enable BSNL, MTNL to utilise each others network
Other stocks and sectors that are in news today:
-Videocon Industries (CMP - Rs 177/share) sets floor price for offer for sale at Rs 177/share
-Delhi HC’s winding-up order against Moser Baer made public
-Shriram group to sell 18 percent in unlisted real estate arm to Tata Group for Rs 600 crore: TOI
-Vodafone Plc to buy Analjit Singh’s 6.2 percent stake, likely to seek Foreign Investment Promotion Board (FIPB) approval: BS
-Indian metal companies eye Stemcor assets, companies made non bidding bids last week: BS
Aon Hewitt strikes Rs 800 crore leasing deal with Unitech: BS
-The deal for 8,00,000 sq ft plot in Gurgaon's Infospace Tikri SEZ is likely to improve real estate absorption rate, which has seen some upside recently
DEA secretary Arvind Mayaram says:
-Government's gross borrowing for H2FY14 at Rs 2.35 lakh crore
-Ways and Means Advances (WMA) limit for H2FY14 at Rs 20,000 crore
-FY14 fiscal deficit will be at 4.8 percent of GDP
-There could be reduction in non-essential expenditure
-Expect FY14 revenue to be in-line with expectations
-Confident of meeting divest target of Rs 54,000 crore in FY14
-Do not see any legal hitch in Hindustan Zinc divestment plan
-To borrow Rs 15,000 crore on average every week in H2FY14
-To examine switch of short tenure gilt in H2FY14
-Oil subsidies to be financed by budget estimates
-Government examining inflation-linked certificates
-H2FY14 borrowing via bonds to be completed by February first week
-Inflation-indexed bonds part of H2FY14 borrowing
CCEA to consider: sources
-Cabinet, CCEA likely to meet today
-Coal block auction policy for private companies
-Methodology for auction of coal blocks to private sector
-Various methods suggested by Crisil for auction
-Upfront, revenue sharing or production-linked payment options
-Shale gas exploration policy on CCEA agenda
-Changes in rules of infrastructure debt fund on CCEA agenda
-Insurance companies, PFS, EPFO, MFs to get investment nod under IDF
-Proposal for relaxing rules for NBFC investment fund
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