Buyback:Shares of Lovable Lingerie advanced 14.6 percent intraday as it is going to consider buyback of shares.
The meeting of the board of directors of the company is scheduled to be held on October 06, to consider the proposal for buyback of equity shares of the company.
The trading window of the company will remain closed for trading by designated persons as per insider trading rules of the company from September 29, 2017 to October 12, 2017 (both days inclusive).
Rate cut likely?: State Bank of India has cut the interest rate for one year deposits by 25 basis points (bps) for both general public and senior citizens.
In an interview to CNBC-TV18, Rajnish Kumar, Managing Director of State Bank of India said the bank had Rs 25 lakh crore of deposit and one year deposit would be Rs 3 lakh crore.
On lending front, he said bank's market share was around 21-21.5 percent, so to that extent the bank was able to protect market share.
He said segment of operations of non banking financial companies (NBFCs) are different from some public sector undertaking (PSU) banks.
He does not expect rate cut from Reserve Bank of India (RBI) because macroeconomic data is not favourable.
Order win: Shares of MEP Infrastructure Developers added 6.3 percent intraday as it has won a contract for collection of toll at all entry points to Delhi.
The company has been awarded the letter of award by the office of the director local bodies (Toll Tax Department) to engage as the contractor for South Delhi Municipal Corporation (SDMC).
The company will collect toll tax & environment compensation charge (ECC) at border points from specified commercial vehicles entering Delhi.
The commercial operations will commence from October 1, 2017 for a period of 5 years.
FM sees rise in GST collections: Finance Minister Arun Jaitley said the Goods and Services Tax (GST) collections in the first two months have met the target and going forward the revenue will see further surge.
"We are now just finished second month. As a base year of 2015-16, we had to give two hikes of 14 percent each to the states, and for both the months (July and August), with some part of the compensation cess, we are well within that figure," he said at the release of a book titled 'India@70 Modi@3.5'.
Total GST collection for August touched Rs 90,669 crore (up to September 25, 2017), against Rs 94,063 crore mopped up in the first month of the new indirect tax regime rollout.
Of this, as much as Rs 14,402 crore has come in from the Central GST (CGST), Rs 21,067 crore from State GST (SGST), Rs 47,377 crore from Integrated GST (IGST) and Rs 7,823 crore from compensation cess levied on demerit and luxury goods. Of Rs 7,823 crore, Rs 547 crore is compensation cess from imports in August.
Govt borrowing limit: The Centre yesterday kept the gross borrowing target for October-March unchanged at Rs 2.08 lakh crore but indicated that the government may raise more funds from the market if required.
The net borrowing during the second half of the financial year will continue to remain at Rs 1.92 lakh crore.
A major part of the borrowing will be done in the quarter ended December.
The gross borrowing for 2017-18 has pegged at Rs 5.8 lakh crore, with net borrowing aimed at Rs 4.25 lakh crore, after taking into account the redemption figures.
Buzzing: Shares of Godrej Properties gained 1 percent in the early trade as it is going to develop a residential project in North Bengalore.
The company has entered into a joint venture with Royale Builders and Developers to develop a 13 acre land parcel on Bellary Road (NH-7) in North Bengalore.
The company is planning to develop a modern residential group housing project of approximately 1,25,000 square meters.
Market Check: Equity benchmarks started off October series on a positive note, with the Nifty reclaiming 9800 level.
The 30-share BSE Sensex was up 97.09 points at 31,379.57 and the 50-share NSE Nifty gained 39.30 points at 9,808.25.
GAIL surged 6 percent after Petroleum & Natural Gas Regulatory Board Of India has floated consultation paper w.r.t unified tariff for company’s pipelines Rs 57 per mmbtu.
Bharti Airtel, HUL, NTPC and Tech Mahindra were mildly lower.
Nifty Midcap was up 0.7 percent.
Lovabale Lingerie rallied 13 percent ahead of board meeting to consider buyback of shares.
GSPL, Leel Electricals, Indiabulls Real, DHFL, IFCI, South Indian Bank, HCC and Vijaya Bank rallied 2-10 percent while Reliance Home Finance plunged 5 percent.
The Indian rupee gained in the early trade today. It has opened higher by 16 paise at 65.34 per dollar versus 65.50 Thursday.
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