10.51 percent interest on NCD of JM Financial

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Mumbai- The NCD (Non Convertibable Debentures) of JM Financial Products Limited will open on April 22 and close on May 21. The company will give 10.51 percent annual interest to the investors in this NCD. However, once more subscription comes, the company can close it earlier. This NCD has given CRISIL and IKRA a stable rating of AA. However, before this, some companies are getting interest of 10.75 per cent in NCD and it has a good rating from those companies.
The company officials in Mumbai said that this NCD will be listed on the stock exchanges and its face value is Rs. 1,000. Through this, the company wants to raise Rs 200 crore, but if more subscription comes, then it can be increased to Rs 1,000 crore. That is, the company can take 800 crores more.
Company’s managing director Vishal Kampani told that the company has a diversification product and has a strong credit profile and a good track record of growth and profitability. Also, the profile of good lending reflects its growth and the quality and returns of the assets. The gross NPA of the company has been 0.3 percent till December 2018.
He said that our focus has always been on risk-adjusted profit and continuous growth. This NCD is the next part of our process. The minimum application for this NCD can be Rs 10,000. After that, its multiplier can be applied. There will be different interest rates on different series, which will be between 9.89 percent and 10.51 percent.

Four century boom in the market

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Four century boom in the market
The Mumbai futures are the expiry of the March futures series. After March 2016, the best expiry in this series has happened. At the turn of the business, the BSE 30-share index Sensex climbed 412.84 points, or 1.08 per cent, to close at 38,545.72. On the other hand, NSE’s 50-share index Nifty closed 124.95 points, or 1.09 percent, at 11,570 level.
The Bank Nifty closed close to its highest level of 30400. Bank Nifty has seen the fastest growth of one month after 3 years. Midday and smallcap shares also saw good shopping along with legendary stocks. The BSE Mid-cap index closed at 15,328.21 with a gain of 1.06 per cent today. At the same time, the smallcap index climbed 0.95 per cent to close at 14,806.00 level.
Oil-gas stocks are still very good today. BSE’s oil and gas index closed today with an increase of 0.54 per cent. The Bank Nifty rose sharply by 1.33 per cent to close at record level of 30,420.55 in the banking stock. The Nifty’s PSU bank index closed today with a gain of 3.62 per cent and private bank index 1.33 per cent.
Today, except metal, there was an all-round shopping. The Nifty’s Metal Index today closed with a weakness of 0.28 percent. On the other hand, Nifty’s auto index gained 0.23 per cent, FMCG Index was 1.18 per cent, Pharma index gained 0.55 per cent and Realty Index gained 1.45 per cent.

Three banks will soon merge

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After the merger of Vijaya Bank and Dena Bank in Bank of Baroda, the government is going to merge three more banks soon. It can be announced after Union Minister Arun Jaitley returns from the United States. After the merger of these banks, it will become the second largest bank in the country.
According to information the government is going to merge the Punjab National Bank, Oriental Bank of Commerce and Punjab & Sind Bank. The government can take this decision before or after the elections. If the government stamps the merger proposal of these banks, then it will become the second largest public sector bank after SBI and will also beat the other merged bank with Bank of Baroda.
PNB and Punjab & Sind Bank have their headquarters in Delhi, while OBC is located in Gururgram. After the merger of these three banks, the total deposits of the new bank will be 16.5 lakh crore rupees. It will include deposits of 9.6 lakh crore and debt of Rs 7 lakh crore.

Recovery in the market, closed with the edge

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Mumbai: The sharp decline in the market on Thursday, the markets closed at the same pace on the last day of the week and the market closed with seven percent increase. Sensex and Nifty climb more than 2% BSE’s 30-share index Sensex closed at 34733 levels, up by 732 points, which is 2.2 percent. On the other hand, NSE’s 50-share index Nifty closed at 234, which is 2.3 percent, at 10,472.5 level.

Midcap and smallcap stocks have also seen strong purchases. BSE’s mid-cap index has closed nearly 2.5 percent, while the mid-cap index of the Nifty has seen an increase of nearly 3 percent. BSE’s smallcap index closed more than 2.5 percent.

Good buying was seen in auto, FMCG, metal, banking, realty, consumer durables, capital goods, power and oil and gas stocks. Bank Nifty rose 2.5 percent and closed close to 25,400. However, there was pressure in IT stocks. Nifty’s IT index closed down 1 percent.

In the giants, Eicher Motors, Maruti Suzuki, Bajaj Finance, Mahindra & Mahindra, HPCL, Kotak Mahindra Bank, Coal India and Bajaj Auto have climbed up by 7-4.4 per cent. However, TCS, HCL Tech, Dr Reddy’s and Tech Mahindra have fallen down 3.1-0.25 per cent in the giants.

In the mid-cap stocks, Tata Power, Reliance Infra, Adani Power, Reliance Capital and Reliance Power closed up 10.5-8.3 per cent to close. However, Rajesh Exports, Bayar Crop, Amphassis, United Breweries and Torrent Pharma have slipped down 4.4-1.2 per cent in mid-cap stocks.

In smallcap stocks, Arshiya, Lincoln Pharma, Goodwill Engineering, Premier Explosive and Navkar Corp have climbed up to 20-14.1 per cent. However, GE Shipping, Ashapura Intimate, Monnet Steel, Electrosteel Steels and Greenplay Industries have broken down by 5-3.9% in smallcap stocks.

Higher Delivery Quantity (12/09/2018)

CENTRALBK 1443376 31855 66.20
STARCEMENT 1090043 44276 106.75
SOBHA 782790 47309 430.25
BLUESTARCO 480046 45191 656.15
SHRIRAMCIT 70694 8707 1925.65
SOMANYCERA 93755 14228 426.90
SIEMENS 567624 133308 944.90
HIMATSEIDE 105521 27884 264.15
ENIL 92262 27698 638.95