14 Oct: News by Kotak Securities

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Economy News
 The rate of retail inflation in September eased to 6.46 per cent - the
lowest since the series was launched in January 2012 - driven mainly by a
significant drop in food prices and subdued demand for industrial goods.
The rate, as measured by the consumer price index (CPI), had stood at 7.73
per cent in August and 9.84 per cent in September last year. (BS)
 The Department of Telecommunications (DoT) is likely to allow telecom
operators to use spectrum as collateral to secure loans from banks. (BS)
 Banks have started to reduce short-term corporate bulk deposit rates on
the back of comfortable liquidity. This signals a downward bias in the
overall rate environment, though those on retail deposits are yet to see
any major revision. (BS)
Corporate News
 Regulator Sebi has barred realty major DLF, as also six top executives
including Chairman K P Singh, from securities markets for three years,
after finding the company guilty of "active and deliberate suppression" of
material information at the time of its public offer. (ET)
 Hindustan Petroleum Corp Ltd (HPCL) temporarily shut its
Vishakhapatnam refinery as cyclone Hudhud made landfall on the eastern
coast. (ET)
 High tech components manufacturer Bharat Forge and global aerospace,
defence and security major Safran have announced a long-term
partnership under which Bharat Forge will supply critical high integrity
forged and machined components, for commercial aircraft applications to
Safran's global affiliates. (ET)
 Kansai Nerolac Paints Ltd said it has entered into a strategic marketing
tie-up with leading e-tailer Flipkart ahead of festive season. (ET)
 Wipro has sold its 8% stake in US-based startup Axeda, a person with
knowledge of the matter said, with a threefold return on a small
investment it made a year ago after Rishad Premji took over as head of
strategy. (ET)
 Tata Steel reported a 4.87 per cent increase in its hot metal production at
2.58 million tonnes (MT) in the August-September quarter of this fiscal
compared to the same period a year-ago. (ET)
 The Reserve Bank of India (RBI) on allowed foreign investors to hold up to
74 per cent paid-up capital in UPL Ltd under the portfolio investment
scheme (PIS). (ET)
 At least five senior executives of the US arm of Ranbaxy Laboratories,
including its top boss Venkat Krishnan, have tendered their resignations or
are planning to quit soon, people familiar with the matter said. Some of
them are planning to float their own business venture as a team, three
people in the know confirmed. (ET)
 Following a huge blow from the Supreme Court, and a series of serious
technical glitches, the government has quietly asked Coal India to cancel
the auction of three coal blocks that were put under the hammer
although some 44 parties had evinced interest in them and two had finally
bid. (ET)
 State-run Central Bank of India has announced reduction of its deposit
rates on various maturities in the range of 5 to 175 basis points here
today. (ET)