Capitalstars Updates: Dilip Buildcon declared as the lowest bidder for a road construction project worth Rs2,013cr: 28 Feb 2018

The project will be executed on Hybrid Annuity Mode in the state of Andhra Pradesh Dilip Buildcon Ltd has been declared as the lowest bidder (L1) by the NHAI for a Hybrid Annuity Project in the state of Andhra Pradesh. The scope of the project involves six laning of Anandapuram-Pendurthi-Anakapalli section of NH-5 (new NH-16). The project is part of the Bharatmala Pariyojana programme. The construction period is 30 months and the operation period is 15 years from commercial operation date. The length of the project is 50.8kms. Dilip Buildcon Ltd’s order book stood at Rs12,357cr as of Q3FY18, which was 2.4x its trailing twelve months...

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Capitalstars Updates: GST collection for January 2018 marginally dips to Rs86,318cr compared to December: 28 Feb 2018

GST collection in the month of December was Rs86,703cr The Data released by Finance Ministry on GST tax collection indicated marginal dip in January 2018 to Rs86,318cr compared to December 2017, collection of Rs86,703cr. The ministry further added that 57.78 lakh GSTR 3B returns have been filed for the month of January till February 25, 2018. This was 69% of total taxpayers (1.03cr taxpayers) who are required to file monthly returns. Out of the total number of taxpayers, 16.42 lakh are composition dealers who file returns every quarter. A total of 17.65 lakh dealers had opted for composition scheme for small manufacturers, traders and...

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Capitalstars Updates: Nifty slips below 10,500 mark on weak global cues; PSU banks drag: 28 Feb 2018

Indices extended losses tracking weakness in global peers and due to selling pressure in banking, financials, metal and media stocks. The subdued trend across most global markets coupled with persistent weakness in banking stocks dragged Indian equity indices lower at the start of the session. Global markets snapped the recent winning streak after comments from US Federal Reserve Chair Jerome Powell stoked fears of a faster pace of interest rate hikes in the US. At 10:09 AM, the BSE Sensex was trading at 34,143, down 203 points, while the Nifty50 index was trading at 10,493, down 71 points. The BSE Midcap Index slipped 0.50% and the...

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Capitalstars Updates: Top stocks in focus today: PNB, HDFC Bank, Ambuja, ACC, Coffee Day Enterprises: 27 Feb 2018

These companies will be in focus during trade today based on recent and latest news developments. PNB reveals the possibility of additional fraud of Rs1,325cr in Nirav Modi case, as per media reports. Ambuja Cements said that it is not pursuing the merger with ACC owing to some constraints. Meanwhile, the board approved an arrangement with ACC for the sale and purchase of materials and services. HDFC Bank said that it will work closely with SEBI on information leakage. RIL, BP’s Rs40,000cr investment plan in KG-D6 approved, as per media reports. Promoter Malavika Hegde bought 55 lakh shares, or 2.6% equity at Rs324 each of Coffee...

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Capitalstars Updates: PNB says unauthorized transactions can increase by $204.25mn, stock down 7%: 27 Feb 2018

These frauds would propel PNB bank to make higher provisions in the coming period, which would dent its profitability. PNB says that quantum of reported unauthorized transactions can increase by $204.25 mn (~Rs1,300cr). These frauds would propel bank to make higher provisions in the coming period which would dent its profitability. The stock has reacted negatively to this news and is down 6.65% to Rs104.8/share at a 52-week low on NSE. Punjab National Bank had announced on February 14, 2018, that it had unearthed a $1.77 bn fraud at a branch in Mumbai. The fraud includes the issue of unauthorized letters of undertaking that was used mainly...

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Capitalstars Updates: Markets indicating positive opening on the back of strong rally in US markets: 27 Feb 2018

SGX Nifty is indicating a gap up opening for the Indian markets.Indian markets are expected to continue the positive momentum built-up in the previous trading sessions on the back of a positive surge in global equities, as US Treasury yields continued to recede after hitting a four year high last Wednesday.  Global markets: Asian markets are trading in the green at present. Nikkei is currently up 1.38%, Hang Seng is trading 0.49% higher, while Shanghai Composite is down 0.46%.US Markets: Stocks witnessed a solid run in yesterday’s trade continuing the positive momentum from Friday’s session, offsetting the...

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