1. India-Global Market Summary 25-2-2013
• Market closed with small gains in choppy trade. The market breadth, indicating the
overall health of the market, was weak. The BSE Mid-Cap and Small-Cap indices
were, both, off more than 1% each, underperforming the Sensex. A bout of initial
volatility was witnessed as key benchmark indices pared gains after a firm start. Volatility
continued as key benchmark indices regained positive terrain after slipping into the red to
hit fresh intraday low in morning trade. Sensex up 0.08% to 19331.69 and Nifty up by
0.08% to 5854.75. Among the 30-share Sensex pack, 15 stocks gained while the rest of
them declined.
• In its final guideline on licensing of new banks in the private sector, the Reserve Bank of
India said entities/groups in the private sector, entities in public sector and non-banking
financial companies (NBFCs) will be eligible to set up a bank in India through a wholly-
owned Non-Operative Financial Holding Company (NOFHC). The entities/groups
should have a past record of sound credentials and integrity, be financially sound with a
successful track record of 10 years, the RBI said. For this purpose, RBI may seek
feedback from other regulators and enforcement and investigative agencies, the central
bank said.
• The bank will be governed by the provisions of the relevant Acts, relevant Statutes and
the Directives, Prudential regulations and other Guidelines/Instructions issued by RBI
and other regulators. The NOFHC shall be registered as a non-banking finance company
(NBFC) with the RBI and will be governed by a separate set of directions issued by RBI.
• Banks promoted by groups having 40% or more assets/income from non-financial
business will require RBI's prior approval for raising paid-up voting equity capital
beyond Rs 1000 crore for every block of Rs 500 crore, RBI said. Any non-compliance of
terms and conditions will attract penal measures including cancellation of licence of the
bank, the RBI said.

2. • CORE Education drops a staggering 62.42% in a single trading session. ITC settled flat after witnessing intraday volatility. Reliance
Industries (RIL) dropped. IT shares edged higher on renewed buying, with TCS hitting record high and HCL Technologies hitting 52-
week high. Realty stocks declined. Aviation stocks edged lower on concerns of increased competition after Malaysian budget carrier
AirAsia last week announced the launch of its new airline in India in partnership with the Tata Group. Shares of companies whose
fortunes are linked to orders from Indian Railways dropped ahead of Railway Budget 2013-14, which will be unveiled tomorrow, 26
February 2013. Bank stocks were mostly lower.
• State Bank of India’s ECCB board has approved preferential allotment of equity shares to the Government of India to the tune of up to
Rs 3004 crore to enable the bank to support national and international banking operations
• Infosys announced the launch of a state-of-the-art Central Processing Center for the Income Tax Department (ITD) for efficient
administration and processing of tax deducted at source (TDS).
• Bharti Airtel added about 2.29 million subscribers in January 2013 and Idea Cellular got 2.45 million new customers in January 2013.
• Videocon Industries' telecom venture lost almost 1.4 million users in January 2013.
• Total rabi sown area currently stands at 629 lakh hectares (LH), higher than 627.5 lakh hectare sown at this time last year and also higher
than 619.9 lakh hectare sown on average at this time in the last five years.
• RBI said entities/groups in the private sector, entities in public sector and non-banking financial companies (NBFCs) will be eligible to
set up a bank in India through a wholly-owned Non-Operative Financial Holding Company
• Nestle India turns ex-dividend today, 25 February 2013, for interim dividend of Rs 12.50 per share for the year ended 31 December 2012.
• Shares of non-banking financial companies rose after the Reserve Bank of India issued final guidelines on licensing of new banks in the
private sector
• State Bank of India gained on approval by its executive committee of central board raising Rs 3004 crore through preferential allotment
of equity shares to the Government of India.
• Rupee opened lower at 54.20/21 versus its previous close of 54.1750/1850 per dollar on the back of month-end dollar demand from
importers.
• Ranbaxy Laboratories rose 3.68% after the company said it will resume production of Atorvastatin tablets for sale in the United States
after resolving the issues that led to a recall in November 2012
• Persistent Systems rose after the company said it has entered into a strategic agreement with Hewlett Packard to license its HP Client
Automation software.
• Infosys rose after the company on Saturday announced the launch of a state-of-the-art Central Processing Center for the Income Tax
Department for efficient administration and processing of tax deducted at source.
• KSB Pumps spurted 8.30% after net profit rose 20.62% to Rs 19.54 crore on 13.19% decline in net sales to Rs 196.21 crore in Q4
December 2012 over Q4 December 2011
• Sun TV Network rose 3.55% and Dish TV rose 1.43% on bargain hunting after the stock fell 7.60% and 5.13% in the preceding three
sessions respectively
• The strong Rupee kept the Indian gold futures trading down and the metal has fallen 6.1% this year.

3. Global news
• European stocks edged higher on Monday with investors taking a cue from an overnight
rally in Asia, while also awaiting exit polls from the Italian general election due in the
afternoon. Asian stocks rose on Monday as Japanese shares gained on speculation the next
Bank of Japan governor will deploy aggressive monetary easing. Trading in US index
futures indicated that the Dow could gain 44 points at the opening bell on Monday. US
stocks rallied on Friday, 22 February 2013, after better-than-expected results from
personal-computer maker Hewlett-Packard Co. and an upbeat report on German business
confidence.
• Moody's Investor Service late Friday cut its triple-A rating on the United Kingdom because
of a weak growth outlook and the country's rising debt burden. Moody's lowered its rating
on the UK's domestic and foreign-currency government bond ratings by one notch to Aa1
from Aaa. The outlook is stable. Explaining the main reason for the downgrade, Moody's
said "the UK's economic growth will remain sluggish over the next few years due to the
anticipated slow growth of the global economy and the drag on the UK economy from the
ongoing domestic public- and private-sector deleveraging process.“
• In Japan, Prime Minister Shinzo Abe is reportedly likely to nominate Asian Development
Bank President Haruhiko Kuroda as Bank of Japan governor. Kuroda said earlier this
month additional monetary easing can be justified for 2013.
• China's manufacturing may expand this month at a slower rate, according to a private
survey of companies. The preliminary reading of a Purchasing Managers' Index was 50.4 in
February, according to a statement from HSBC Holdings Plc and Markit Economics today,
25 February 2013. HSBC and Markit will report the final February reading on Friday, 1
March 2013, the same day that a separate, government-backed purchasing managers' index
will be released.

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