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Indian shares soar to record; banks surge on Kotak-ING deal

* BSE index rises to record high of 28,360.66 * NSE index marks life high of 8,489.80 * NSE bank index surges to all-time high * Expectations for more M&As boost smaller Indian banks By Abhishek Vishnoi MUMBAI, Nov 21 - Indian shares soared to record highs on Friday as lenders surged after Kotak Mahindra Bank's acquisition of ING Vysya sparked hopes for further consolidation in the sector, while expectations of more reforms ahead of the winter session of parliament

Indian shares soar to record; banks surge on Kotak-ING deal

MUMBAI, Nov 21 - Indian shares soared to record highs on Friday as lenders surged after Kotak Mahindra Bank's acquisition of ING Vysya sparked hopes for further consolidation in the sector, while expectations of more reforms in the winter session of Parliament also helped.

3:38pm IST

MARKET EYE -India's NSE index rises to record; bank stocks gain on Kotak-ING deal

* India's NSE index rises as much as 0.7 pct to mark record high of 8,461.65. * The BSE index also up 0.67 pct, just 0.13 pct away from record high. * Bank stocks lead gainers. Kotak Mahindra Bank's acquisition of ING Vysya Bank adds to confidence in the Indian economy and its lenders - Traders. * Kotak Mahindra Bank surges to record high after buying ING Vysya Bank in record $2.4 bln share deal. * Axis Bank rises 1.9 pct, Indusind Bank is up 2 pct, while HDFC Bank gains 0.8 pct. (abhishek.v

10:29am IST

MARKET EYE -Indian wagon makers gain on report of govt order

* Texmaco Rail & Engineering gains 2.2 pct, while Titagarh Wagons Ltd is up 4.3 pct. * The Railway Board issued orders to release 50 pct of wagon manufacturers' withheld allocation, newspaper DNA reported on Friday. (http://bit.ly/1Aqx4Fg) (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)

10:11am IST

MARKET EYE-India's Kotak soars to second straight record high after acquisition

* Kotak Mahindra Bank surges as much as 9.3 pct to 1,264.70 rupees, its second consecutive record high. * Kotak buys ING Vysya Bank in record $2.4 bln share deal. * Acquisition of ING Vysya at a swap ratio of 0.72 times better than the 0.8 times ratio mentioned in a news channel report - Nomura says in a note. * The merger will add 10 pct to earnings and 15 pct to networth of Kotak, Nomura adds. * ING Vysya shares also gain 2.4 pct. * Combined entity's market capitalisation will be more than

9:50am IST

MARKET EYE -Expectations for more M&As boost smaller Indian lenders

* India's Kotak Mahindra Bank buys ING Vysya Bank in record $2.4 bln share deal. * Deal to raise speculation over likely mergers in the sector - Traders. * Lenders that markets see as potential acquisition candidates rise. Karnataka Bank 2.3 pct Karur Vysya Bank 2 pct City Union Bank 2 pct Lakshmi Vilas Bank 1.4 pct Dhanlaxmi Bank 4.2 pct South Indian Bank 3.4 pct * Those markets see as potential suitors also edge higher. ICICI Bank and Axis Bank up 0.2

9:24am IST

MARKET EYE -India's Yes Bank gains; cbank removes restrictions on share purchase

* Yes Bank shares gain 2.5 pct. * India central bank on Thursday said restrictions placed on the purchase of its shares by foreign investors withdrawn. * RBI in September said further share purchase by foreign investors will be allowed only after obtaining its approval. (abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)

9:17am IST

MARKET EYE -India's Tech Mahindra gains after $240 mln acquisition

* Tech Mahindra shares gain 1 pct, adding to Thursday's 3 pct rise. * Company to buy network services operator Lightbridge Communications Corp (LCC) for $240 million. * LCC acquisition is happening at reasonable valuations and will bring in market share gains for Tech Mahindra - Analysts * "There are 20 new customers that LCC brings to TECHM, which should present cross-selling opportunities," Religare said in a note. * LCC is expected to have revenues of $430 million in 2014, it added.

9:17am IST

MARKET EYE -India's NSE futures edge lower; foreign flows may slow down

* NSE index futures traded on the Singapore Exchange down 0.12 pct. * Asia shares take comfort from US data, yen nurses losses. * The MSCI-Asia Pacific excluding Japan index gains 0.21 pct. * Overseas investors may slow down purchases or lock in profits after domestic shares rose to record highs on Tuesday, traders say. * Foreign institutional investors in Indian shares Thursday -$77.03 million Wednesday +$36.95 million Tuesday +$2.4 million Source: NSE, NSDL * Investo

8:21am IST

Indian shares edge up; weaker rupee boosts exporters

* BSE index gains 0.12 pct; NSE index adds 0.23 pct * Weak rupee dims prospects of rate cuts * Foreign investors' buying of Indian shares slows down * Kotak, ING Vysya hit record highs on report of M&A talk By Abhishek Vishnoi MUMBAI, Nov 20 - Indian shares edged up on Thursday as exporters such as Infosys Ltd rallied after the rupee fell to a nine-month low, although the weaker local currency hit other blue-chips such as Tata Motors by tempering hopes of interest

20 Nov 2014
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Symb Last Chg % Volume
AADH.BO 0.43 +4.88 25,185,719
SPJT.BO 16.06 +14.96 21,982,639
KSSL.BO 13.01 +0.08 14,279,142
VIFY.BO 0.12 +9.09 12,022,426
TVEB.BO 31.10 +5.42 5,677,709
Data as of Fri Nov 21, 2014 5:42pm IST.

Nifty Most Actives

Symb Last Chg % Volume
UNTE.NS 19.30 +1.58 44,262,914
JAIA.NS 31.45 -1.10 33,601,561
TVEB.NS 31.15 +5.59 25,478,827
SBI.NS 305.50 +2.83 21,009,207
KSSL.NS 13.00 -- 17,991,643
Data as of Fri Nov 21, 2014 5:42pm IST.

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Long "to do" list for Modi as clock ticks on reform

NEW DELHI - Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target.