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Stocks in news: Apollo Tyres, Financial Tech, Federal Bank

Apollo Tyre | Fortis Healthcare | Financial Technologies | MCX India and Federal Bank are stocks, which are in the news today.

August 21, 2013 / 11:26 AM IST
  • bselive
  • nselive
Todays L/H

Here are stocks that are in news today:

Results Today: Kalindee Rail, Arshiya International

RBI moves (bank stocks, bond yield to be in focus)
-Announces measures to address market conditions
-To conduct open market operation (OMO) buy of long-dated Gilts of Rs 8000 crore on Friday
-To calibrate issue of cash management bills including scaling down
-To keep money market rate around marginal standing facility (MSF) till forex volatility eases
-To ensure liquidity tightening doesn't harden long-term yield
-Banks incurring mark-to-market (MTM) losses due to long-term yields hardening
-RBI has right to decide amount of individual gilt buys under OMO
-Eases some NRI investment norms under portfolio investment scheme

RBI says
-Banks can retain statutory liquidity ratio (SLR) bonds in held to maturity (HTM) category at 24.5 percent
-Banks can transfer SLR bonds to HTM from available for sale (AFS) as one-time measure
-Banks can transfer gilts from AFS to HTM based on July 15 price
S&P on India:
-Maintains negative outlook on India’s BBB- sovereign credit rating: Reuters
-Too early to say if long-term growth prospects will weaken on sustained basis
RBI says
-FIIs cannot buy more shares of Federal Bank
-FII share purchases in Federal Bank reach trigger limit of 49 percent

National Spot Exchange (NSEL) says (Financial Technologies and MCX India in focus)
-To disperse Rs 92.12 crore in a proportionate manner
-9 entities did not pay-in
-15 entities deposited Rs 92.73 crore
Alert: Juggernaut project paid Rs 60 lakh after deadline
-Anjani Sinha removed as CEO & MD, pending enquiry
-Shashidhar Kotian removed as CFO, pending enquiry
-6 heads of departments (HODs) removed from current assignment, pending enquiry
-Conducting a special investigation under the officer on special duty (OSD)
-OSD to identify lapses in operations
-OSD to suggest corrective actions for recovery of dues
-PR Ramesh as OSD to exercise all powers of CEO
-PR Ramesh will report to the board directly
-Appointed SGS to assess quality & quantity of goods in warehouses
-Expect SGS work to be over by end of the month
-Will take legal & regulatory measures on non-compliance on warehouse collaterals
-Appointing a well-known global audit firm for forensic audit
-To finalise the appointment of audit firm by Friday

Forward Markets Commission (FMC) writes to NSEL board
FMC says:
-Serious doubts on credibility & intention of NSEL
-Doubt NSEL's intention in outstanding trade settlement
-Cannot hold directorship or shareholding in other COMMEX
-If board loses status as fit & proper, to impact other COMMEX
-Jignesh Shah raised doubts on availability of stocks
-Lack of stock shows complete failure of system at NSEL
-Board must take complete responsibility for settlement

Control of FMC to move to finance ministry; decision may be via executive order: Sources
-Control of MCX to also shift to finance ministry
-Proposal at final stages, decision likely in next 3-4 days
-Proposal was originally mooted in 2005
-Prime minister's office (PMO) keen that admin failures w.r.t commodity markets be addressed quickly

FMC to NSEL on Indian Bullion Market Association (IBMA)
-To make proportionate payment to all members including IBMA
-Distribute amount received till yesterday proportionately
-Payment to IBMA subject to conditions
-Payment to genuine IBMA members who cleared trades
-Withhold amount due to defaulted members
-Withhold amount to its entities
-VAT receivable, exchange fund utilization not to be used
Alert: NSEL fails to meet the first payout obligation entirely

CNBC-TV18 Exclusive: Finance ministry sources say
-Examining possibility of department of economic affairs (DEA) overseeing commodity exchanges
-Finance ministry to respond to possibility of DEA oversight in day or two
-Consumer Affairs Ministry will have to move cabinet note if government decides oversight be given to finance ministry

DoT issues Unified License (UL) migration policy
-Mandatory for telecom companies to migrate to UL on license renewal

Telecom Data
-India July GSM user addition at 14.9 lakh versus 35.7 lakh (MoM)
-Bharti Airtel adds 4.76 lakh subscribers in July versus 12.6 lakh (MoM)
-Vodafone loses 6.1 lakh subscribers in July versus 3.47 lakh (MoM)
-Idea Cellular adds 3 lakh subscribers in July versus 12 lakh (MoM)
-Uninor adds 4.63 lakh subscribers in July versus 2.95 lakh (MoM)

Industry moves to frame new definition of sport utility vehicle (SUV): CNBC-TV18 Exclusive sources
-Move afoot after higher excise levy on SUV
-Industry forms panel to define sports utility vehicle
-Panel being headed by Fiat MD Gurpratap Boparai
-'SUV' report to be put before SIAM's executive council meet
-'SUV' definition to be proposed to roads & transport ministry
-SUV definition to be discussed by Central Motor Vehicles Rules (CMVR) technical standing committee
-New definition may be included in CMVR act

Other stocks and sectors that are in news today:
-Apollo Tyre's Cooper acquisition facing opposition from Chinese workers: ET -Intec Capital open offer at Rs 109/share
-FDI in Pharma: Department Of Industrial Policy & Promotion (DIPP) to circulate draft cabinet note this week: PTI
-Fortis Healthcare completes divestment of subsidiaries in Singapore for USD 80 million

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