News about ICICI Bank Limited

The media had reports that ICICI Bank Ltd has lost $264 million till Jan 31, 2008 due to subprime crisis.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

ICICI Bank Ltd has vide its letter inter-alia stated, “The bank has no material direct or indirect exposure to US sub-prime credit. The widening of credit spreads in the international markets have resulted in a negative mark-to-market impact on the credit derivatives and fixed income investment portfolios of the Bank and its overseas banking subsidiaries, while there has been no significant deterioration in actual credit quality of the underlying investments. ICICI Bank and its overseas banking subsidiaries have an aggregate exposure of USD 2.2 billion in credit derivatives. As of January 31, 2008, the mark-to-market negative on this portfolio due to movement of credit spreads was about US$ 155 million of which USD 88 million had been provided for in the financial statements of the bank and its subsidiaries for the nine months ended December 31, 2007. In addition, ICICI Bank and its overseas banking subsidiaries have fixed income investment portfolios which have a mark-to-market negative due to widening of credit spreads. As of January 31, 2008 this negative was about US $108 million of which US $ 101 million had been accounted for in the financial statements as of December 31, 2007. This includes mark-to-market on the available for sale portfolio which has been accounted for in the shareholders’ equity. It may be noted that unrealized gains on ICICI Bank’s other investment portfolio has not been considered in above.”

Add commentMarch 4th, 2008

NSE completes its 2015th Normal Settlement

The Exchange has successfully completed its 2015^th Normal Settlement (Rolling T+2 following SEBI directive) since inception i.e., Settlement Number N – 2008043 on March 3, 2008. The settlement statistics is as follows:     

Particulars	Values
	N – 2008043
Total traded quantity (lakhs)	5302.76
Total traded value (Rs. In Crores)	14483.35
Total value of the settlement (Securities) (Rs. In Crores)	4477.43
Total value of the settlement (Funds) (Rs. In Crores)	1613.84
Shortages for the settlement	0.19%
% of  Delivery ( No. of shares deliverable / No. of shares traded )	28.33%

Retail Debt Market have completed its 1289^th settlements details of which is as follows:

Settlement No.	Traded Value	Settlement Value
		Securities	Funds
D- 2008043	NIL	NIL	NIL

 

Add commentMarch 3rd, 2008

Security listed and admitted to dealings – GSSAMERICA

The equity shares of the following company shall be listed and admitted to dealings on the Exchange w.e.f. March 7, 2008. Trading shall be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors.

 

Sr. No.	Symbol	Name of the Company	ISIN Code
1	GSSAMERICA	GSS America Infotech Limited	INE871H01011

Add commentMarch 3rd, 2008

Introduction of long term option contracts on S&P CNX Nifty Index

Trading in long term options on S&P CNX Nifty index commenced today. The S&P CNX Nifty Index is the most actively traded index based derivative product in India with more than Rs.15000 Crs daily average turnover and lakhs of investors participating in this segment.  The long term options contract is now expected to deepen this market further.

Active trading was observed in the three quarterly expiries i.e June/Sept/Dec 2008.  The total traded turnover for the day in long term options contracts was Rs 150.16 crores at 5223 contracts. The open interest stood at 4184 contracts. Active contracts had strike prices between 4800 & 5550. The Nifty December 2008 call for 5000 strike was the most actively traded contract recording a turnover of Rs 43.57 crores.

Add commentMarch 3rd, 2008

Indian stock markers trading in red post Budget day, Sensex down over 500 points

Farming, Education and Health care are the biggest sectors that would be winning because of the recent budget and hence the trading day today at the stock markets is witnessing the bias. Sensex is down by about 500 points and Nifty is down near 150 points.

Nifty is down over 3%, CNX IT is down 3.11%, Bank Nifty is down 4.18%. Selling is seen across the board without any market cap differentiation. Auto sectoral index is in green on the BSE while all other sectoral indices are in the red.

Maruti, M&M, Hero Honda, Bajaj Auto, Tata Motors are in the green while big losers of the day so far include Punjab National Bank, State Bank of India, ITC, Suzlon, ABB, Wipro, ICICI Bank, BHEL, HCL Technologies and Tata Communications

Add commentMarch 3rd, 2008