HCL Infosystems shines as arm launches multiple HCL Touch Centres

The scrip opened at Rs. 33.50 and has touched a high and low of Rs. 33.80 and Rs. 33.05 respectively. So far 2,922 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 46.95 on 03-Oct-2012 and a 52 week low of Rs. 30.00 on 05-Mar-2013.

Last one week high and low of the scrip stood at Rs. 34.50 and Rs. 33.00 respectively. The current market cap of the company is Rs. 747.00 crore.

The promoters holding in the company stood at 53.19% while Institutions and Non-Institutions held 28.08% and 18.73% respectively.

HCL Care, the support and service division of HCL Infosystems, has launched its multiple HCL Touch Centres across various cities in India. As a part of HCL Care's Direct-to-Consumer (D2C) initiative, HCL Touch Centres will offer a wide range of quality services for multiple products and brands. Aimed to create an organized play in the retail service provider market, HCL Touch Centres will offer one-stop solution to all servicing needs for mobility, IT and consumer electronics & Home Appliances products across brands. Starting with 8 centres in Delhi-NCR, this D2C project will gradually expand across Tier I, Tier II and Tier III cities in India.

About HCL Infosystems:
HCL Infosystems is one of the leading ICT system integrator and distribution company. It has wide range of products and services such as IT products, solutions and related services, which include PCs, servers, imaging, voice and video solutions, networking products, TV and FM broadcasting solutions, communication solutions, system integration, ICT education and training, digital lifestyle solutions and peripherals.

Nestle shines on plan to introduce premium chocolate brand Alpino in India

Nestle India is currently trading at Rs. 5320.00, up by 109.00 points or 2.09% from its previous closing of Rs. 5211.00 on the BSE.

The scrip opened at Rs. 5236.80 and has touched a high and low of Rs. 5329.00 and Rs. 5201.00 respectively. So far 985 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5350.00 on 04-Jun-2013 and a 52 week low of Rs. 4305.55 on 27-Sep-2012.

Last one week high and low of the scrip stood at Rs. 5265.00 and Rs. 5120.00 respectively. The current market cap of the company is Rs. 50714.67 crore.

The promoters holding in the company stood at 62.76% while Institutions and Non-Institutions held 18.77% and 18.47% respectively. Nestle is likely to introduce its premium chocolate brand Alpino in India, in order to take on Italian brand Ferrero Rocher and Cadbury's Toblerone in the country. This new brand is quite similar with Ferrero in terms of packaging and shape and will also be priced similar to Ferrero at Rs 30 for a pack with two chocolate balls.

The company has reported marginal 1.22% rise in net profit of Rs 279.09 crore for the quarter ended March 31, 2013, as compared to Rs 275.73 crore for the same quarter in the previous year. Total income from operation of the company has increased by 10.05% at Rs 2268.08 crore for quarter under review, as compared to Rs 2061.04 crore for the quarter ended March 31, 2012.

NTPC to raise Rs 2,500 crore through issue of tax-free bonds

NTPC is currently trading at Rs. 144.65, up by 0.90 points or 0.53% from its previous closing of Rs. 143.75 on the BSE.

The scrip opened at Rs. 143.90 and has touched a high and low of Rs. 145.40 and Rs. 141.80 respectively. So far 24058 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 175.35 on 12-Sep-2012 and a 52 week low of Rs. 136.10 on 21-Mar-2013.

Last one week high and low of the scrip stood at Rs. 146.00 and Rs. 139.00 respectively. The current market cap of the company is Rs. 118817.14 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.16% and 4.84% respectively.

State-run power generation utility NTPC is reportedly planning to raise Rs 2,500 crore via issue of tax-free bonds this fiscal to fund its capital expenditure needs. This bond issue will be the first of the Rs 50,000 crore tax-free infrastructure bonds that the government has proposed to issue during the Union Budget 2013-14.

The company has approached the government for permission to issue the bonds with maturity periods ranging from 10-20 years due to the long time power projects take to build.

The company, which expects to incur a capital expenditure of Rs 20,200 crore in 2013-14 on various heads, expects to fund Rs 7,959 crore of this amount from internal resources and raise debt of Rs 12,241 crore. The bonds would form part of the debt component.

Elder Pharmaceuticals surges on getting nod for restructuring of business

Elder Pharmaceuticals is currently trading at Rs 363.90, up by 10.00 points or 2.83% from its previous closing of Rs 353.90 on the BSE.

The scrip opened at Rs 363.00 and has touched a high and low of Rs 371.40 and Rs 361.00 respectively. So far 24938 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 474.00 on 05-Dec-2012 and a 52 week low of Rs 202.15 on 14-May-2013.

Last one week high and low of the scrip stood at Rs 380.00 and Rs 338.00 respectively. The current market cap of the company is Rs 726.80 crore.

The promoters holding in the company stood at 39.99% while Institutions and Non-Institutions held 23.01% and 37.00% respectively.

Elder Pharmaceuticals has received an approval for carrying out restructuring of company's business involving either raising of capital, hiving off of assets or other strategic options and also to appoint advisors for this purpose. The company has taken this step with a view to reduce its debt. The board of directors at its meeting held on July 11, 2013 has approved for the same.

Dr Reddys Laboratories rises on launching Decitabine for Injection

The scrip opened at Rs. 2291.00 and has touched a high and low of Rs. 2307.30 and Rs. 2256.00 respectively. So far 6481 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2307.30 on 12-Jul-2013 and a 52 week low of Rs. 1592.25 on 23-Jul-2012.

Last one week high and low of the scrip stood at Rs. 2307.30 and Rs. 2211.90 respectively. The current market cap of the company is Rs. 38688.89 crore.

The promoters holding in the company stood at 25.56% while Institutions and Non-Institutions held 40.69% and 16.90% respectively.

Dr Reddy's Laboratories has launched Decitabine for Injection (50mg) a therapeutic equivalent generic version of Dacogen (Decitabine for Injection) in the US market on July 11, 2013, following the approval by the United States Food & Drug Administration (USFDA) of Dr. Reddy's ANDA for Decitabine for Injection.

The Dacogen brand has U.S. sales of approximately $260 Million MAT for the most recent twelve months ending in July 2013 according to IMS Health.

Dr Reddy's Decitabine for Injection 50 mg is available as a single dose vial. Dr Reddy's is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.

Kalindee Rail Nirman (Engineers) in demand

Kalindee Rail Nirman (Engineers) jumped 8.64% to Rs 74.15 at 11:42 IST on BSE after the company said its board will evaluate all options relating to the open offer announced by Jupiter Metal to acquire stake in the company.

On BSE, 2.34 lakh shares were traded in the counter as against an average daily volume of 38,666 shares in the past one quarter.

The stock hit a high of Rs 74.80 and a low of Rs 68.15 so far during the day. The stock had hit a 52-week high of Rs 111.70 on 13 December 2012. The stock had hit a 52-week low of Rs 44.15 on 28 March 2013.

The stock had outperformed the market over the past one month till 11 July 2013, rising 19.63% compared with the Sensex's 2.78% rise. The scrip had also outperformed the market in past one quarter, gaining 39.57% as against Sensex's 6.12% rise.
The small-cap company has an equity capital of Rs 12.40 crore. Face value per share is Rs 10.

Jaipur-based Jupiter Metal made an open offer to acquire 37.19 lakh equity shares of Rs 10 each, constituting 30% of the paid-up capital of Kalindee Rail Nirman (Engineers) at price of Rs 65 per share. The open offer was announced after market hours on Wednesday, 10 July 2013. Shares of Kalindee Rail Nirman (Engineers) surged 11.34% to Rs 68.25 on Thursday, 11 July 2013.

The open offer is conditional, subject to a minimum level of acceptance of 32.23 lakh equity shares, constituting 26% of the paid-up capital of the company, Ashika Capital, the manger of open offer said in a statement.

The board of Kalindee Rail Nirman (Engineers), at its meeting held on Thursday, 11 July 2013, took note of the open offer. In view of this new scenario and sudden development it was decided to further evaluate all options in this context, the company said in a statement.
Kalindee Rail Nirman (Engineers) reported net loss of Rs 1.29 crore in Q4 March 2013 as against net profit of Rs 0.03 crore in Q4 March 2012. Net sales declined 2.36% to Rs 62.82 crore in Q4 March 2013 over Q4 March 2012.

New orders boost IVRCL

IVRCL rose 1.85% to Rs 16.50 at 11:04 IST on BSE after the company said it has secured new orders aggregating Rs 1097.57 crore across its various business segments.

On BSE, 6.20 lakh shares were traded in the counter as against average daily volume of 14.64 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 3.39% at the day's high of Rs 16.75 so far during the day. The stock lost as much as 1.85% at the day's low of Rs 15.90 so far during the day. The stock had hit a 52-week low of Rs 11.80 on 25 June 2013. The stock had hit a 52-week high of Rs 52.55 on 11 July 2012.

The stock had underperformed the market over the past one month till 11 July 2013, gaining 0.93% compared with the Sensex's 2.78% rise. The scrip had also underperformed the market in past one quarter, declining 14.51% as against Sensex's 6.12% gain.

The small-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 2.

IVRCL's Building division (India & UAE) secured orders aggregating Rs 573.12 crore. The company's Water division bagged orders worth Rs 471.82 crore. Power division received orders totaling to Rs 52.63 crore.

IVRCL's net profit rose 22.9% to Rs 6.07 crore on 6.5% decline in net sales to Rs 1492.09 crore in the quarter ended 31 March 2013 over the quarter ended 31 March 2012.

About IVRCL:
IVRCL operates in the core infrastructure sectors of water & environment, transportation, buildings and power.

Pipavav Defence jumps after MoD lifts hold on JV with Mazagon Dock

Pipavav Defence and Offshore Engineering Company jumped 4.28% to Rs 65.75 at 10:33 IST on BSE after the company said that Ministry of Defence has lifted the hold on the company's joint venture with Mazagon Dock to build the warships for Indian Navy.

On BSE, 2.49 lakh shares were traded in the counter as against an average daily volume of 3.30 lakh shares in the past one quarter.

The stock hit a high of Rs 66.20 and a low of Rs 63 so far during the day. The stock had hit a 52-week high of Rs 98.35 on 13 December 2012. The stock had hit a 52-week low of Rs 52.65 on 27 July 2012.

The stock had underperformed the market over the past one month till 11 July 2013, sliding 8.02% compared with the Sensex's 2.78% rise. The scrip had also underperformed the market in past one quarter, falling 15.43% as against Sensex's 6.12% rise.

The mid-cap company has an equity capital of Rs 711.70 crore. Face value per share is Rs 10.
Pipavav Defence and Offshore Engineering Company (Pipavav) said that the joint venture (JV) can go ahead and carry on the business on open and transparent basis.
The company said that the JV implements its vision of executing the contracts without any time and cost overrun received through appropriate transparent mechanism. The JV will also focus on working on other large and complex projects both meant for Indian Navy and friendly navies of the world, the company said.

Government lifting of hold vindicates the vision and decision of Ministry of Defence (MoD) to form JV between Mazagon Dock and Pipavav in a completely transparent manner, which will immensely benefit Indian Navy, Coast Guard and other clients, Pipavav added.
In 2011, Pipavav announced that it was selected by the MoD as its JV partner for building warships for the Indian Navy. Pipavav had said it would form a JV company with Mazagon Dock, a company controlled by the MoD, for building warships. The JV was to be named as Mazagon Dock Pipavav.

Later some media reports suggested that L&T, along with other private shipbuilders like ABG Shipyard and Bharathi Shipyard, had expressed disappointment at the way the deal was struck between Pipavav and Mazagon Dock. They alleged total lack of expertise and track record of Mazagon Dock's partner of choice viz. Pipavav Defence and Offshore Engineering Company.

Following the allegations, the Defence Ministry had to put on hold the JV between Pipavav and Mazagon Dock to build warships and submarines.
Pipavav Defence & Offshore Engineering Company reported net profit of Rs 8.24 crore in Q4 

March 2013 as against net loss of Rs 12.82 crore in Q4 March 2012. Net sales rose 20.28% to Rs 724.46 crore in Q4 March 2013 over Q4 March 2012.

About Pipavav Defence:
Pipavav is an integrated defence, heavy engineering and offshore oil & gas assets construction company.

RBI clarifies rule on trade credit for imports

Importers can avail of trade credit at an all-in-cost ceiling of 350 basis points over LIBOR till September 30.

The Reserve Bank of India (RBI) clarified to banks that the period of availing trade credit for imports should be linked to the operating cycle and trade transaction period.

It has also been decided that for availment of trade credit, the period of trade credit should be linked to the operating cycle and trade transaction. Banks may ensure that these instructions are strictly complied with, the RBI said in a notification on Thursday.

Importers can avail of trade credit at an all-in-cost ceiling of 350 basis points over the London interbank offer rate (LIBOR) till September 30, the RBI added.

A basis point is one-hundredth of a percentage point.

All other aspects of Trade Credit policy remain unchanged, it further said.

In separate notification, the RBI extended the rule of refinancing existing overseas borrowings by raising fresh external commercial borrowings till September 30.

JSW Energy drops ex-dividend

JSW Energy lost 3.7% to Rs 44.25 at 9:55 IST on BSE as the stock turned ex-dividend today, 12 July 2013, for dividend of Rs 2 per share for the year ended 31 March 2013.

On BSE, 66,000 shares were traded in the counter as against average daily volume of 4.05 lakh shares in the past one quarter.

The stock hit a high of Rs 44.65 and a low of Rs 44.10 so far during the day. The stock had hit a 52-week low of Rs 39.60 on 27 June 2013. The stock had hit a 52-week high of Rs 75 on 22 January 2013.

The stock had underperformed the market over the past one month till 11 July 2013, sliding 6.89% compared with the Sensex's 2.78% rise. The scrip had also underperformed the market in past one quarter, declining 17.43% as against Sensex's 6.12% gain.

The company has equity capital of Rs 1640.05 crore. Face value per share is Rs 10.
Before turning ex-dividend, the stock offered a dividend yield of 4.35% based on the closing price of Rs 45.95 on Thursday, 11 July 2013.

JSW Energy's consolidated net profit surged 49% to Rs 335.69 crore on 10.9% growth in net sales to Rs 2258.54 crore in Q4 March 2013 over Q4 March 2012.

Tata Motors inches up as JLR reports decent sales in June

Tata Motors rose 0.35% to Rs 286.35 at 9:18 IST on BSE after the company's British luxury car unit, Jaguar Land Rover, on Thursday, 11 July 2013, said its sales rose 7% to 33,739 vehicles in June 2013 over June 2012.

On BSE, 8,802 shares were traded in the counter as against average daily volume of 10.94 lakh shares in the past two weeks.

The stock hit a high of Rs 286.70 and a low of Rs 284.05 so far during the day.

The sales of the Jaguar brand jumped 34% to 6,574 vehicles in June 2013 over June 2012. Land Rover sales rose 2% to 27,165 units in June 2013 over June 2012 despite the run out of Range Rover Sport, Jaguar Land Rover (JLR) said.
During the first six months of 2013, JLR sold 210,190 vehicles, an increase of 14% versus the same period last year.

Commenting on the half year performance, Phil Popham, Jaguar Land Rover Group Sales Operations Director said, It is very encouraging to see both our Jaguar and Land Rover brands delivering strong sales performances across our 178 markets. New model introductions have been incredibly well received with the all-new Range Rover retailing more than 22,000 units since launch. The F-TYPE which received a rapturous reception from media during its global launch last month is off to an excellent start with new customers and will go on sale in China this month.

Tata Motors' consolidated net profit declined 36.7% to Rs 3945.47 crore on 10.3% growth in net sales to Rs 55841.50 crore in Q4 March 2013 over Q4 March 2012.


About Tata Motors:
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,88,818 crore ($34.7 billion) in 2012-13. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain, South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS and Russia.

Infosys Q1 beats street, net at Rs 2374cr, holds $ guidance

Infosys , India's second largest software services exporter, reported good set of numbers in the first quarter of financial year 2013-14 with the net profit falling lower-than-expected 0.8 percent quarter-on-quarter to Rs 2,374 crore.

Rupee revenue too increased higher-than-expected 7.8 percent Q-o-Q to Rs 11,267 crore from Rs 10,454 crore.

Analysts on an average were expecting net profit at Rs 2,315 crore on revenue of Rs 11,029 crore for the quarter.

Goldman Sachs says IT bellwether surprised on the upside on both revenue, profit in Q1.

Meanwhile, UBS advised buying Infosys with a target price of Rs 2,900/share.

Infosys' India business grew by 10.4 percent quarter-on-quarter.

Consolidated dollar revenue rose 2.73 percent Q-o-Q to USD 1,991 million versus USD 1,938 million.

Guidance

FY14 rupee revenue is likely to grow at 13-17 percent

The company left current financial year (FY14) revenue guidance unchanged at 6-10 percent.

Company is cautiously optimistic about rest of the year, says CEO, SD Shibulal.

Infosys CFO says July wage hike will affect margins in future quarters.

Infosys Says

Lodestone April-June net profit at USD 1.88 million versus USD 3.44 million loss (QoQ)

Revenue at USD 90.67 million versus USD 70.33 million (QoQ)

Economy news of the day

Finance Minister invited US firms to establish manufacturing plants in India, as he defended the economic policies as growth-oriented and WTO-complaint

The Union Cabinet approved the proposal to form a company — National Capital Region Transport Corporation Limited — to construct rail corridors in regions around the National Capital Region. (BL)

The rupee depreciation is likely to hurt the inflation fight and restrict the Reserve Bank from cutting its policy rates at the forthcoming monetary policy review by month end, says ratings agency Crisil. (ET)

Finance Minister invited US firms to establish manufacturing plants in India, as he defended the economic policies as growth-oriented and WTO-complaint. (ET)

The government has drawn up a plan to remove bottlenecks holding back investment in manufacturing at the state level, a move aimed at revitalising the flagging sector by aligning states’ approach with the long-term strategy of the Centre. (ET)

Sun Pharma announces USFDA approval for generic Prandin

Repaglinide tablets, 1 mg and 2 mg are therapeutic equivalents of Novo Nordisk’s Prandin tablets.

Sun Pharmaceutical Industries Ltd announced that the US FDA has granted its subsidiary final approval for its Abbreviated New Drug Applications (ANDA) for generic version of Prandin, Repaglinide tablets.
Repaglinide tablets, 1 mg and 2 mg are therapeutic equivalents of Novo Nordisk’s Prandin tablets. These tablets have annual sales of approximately USD 200 million in the US. Repaglinide tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type-2 diabetes mellitus.
Sun Pharma’s subsidiary, being the first-to-file an ANDA for generic Prandin® with a para IV certification, is eligible for a 180-day marketing exclusivity in the US. 

Sensex to open on a positive note

Investors world over seem to feel confident about what the Fed is likely to do. That explains the accommodative approach by investors witnessed world over.

The outlook is a positive start. The focus for the day will be on the Infosys results, especially after Narayana Murthy is back at the helm.  The last two times, the company declared its results the counter saw huge intra-day swings. Besides the results, a change in guidance if any will be closely watched.

May IIP numbers and June CPI numbers are among the data points which investors will like to keep a close eye on.

US indices saw record closing with the Dow and S&P adding a little over 1% each. The Nasdaq notched gains over 1.5%. Asian markets are mixed with the Nikkei up marginally while the Hang Seng has fallen a tad.

China’s Finance Minister Lou Jiwei says 6.5% economic-growth rate wouldn’t be a ‘big problem.’

Reliance can breathe a sigh of relief. Oil Minister Veerappa Moily has laid to rest reports and rumors ruling out any review of the cabinet's decision to significantly raise gas prices. The government is not considering any changes or altering the decision to increase natural gas prices from $4.2 mmBtu to $8.3 from April 2014, he clarified.

US Jobless claims rose by 16,000 to a seasonally adjusted 360,000, the US Labor Department said on Thursday.

Expressing helplessness over the rupee's fall, Central banker D. Subbarao on Thursday attributed rupee fall to global factors and said it is difficult for him to predict how the currency will behave going forward. The rupee climbed to a one-week high on Thursday, but later weakened by two paise to close at Rs. 59.67 on dollars demand from importers.

In a landmark legislation on Thursday India's apex court decreed that a person who is in jail or in police custody cannot contest election to legislative bodies. The decision was hailed as by some as it aims to weed out criminal elements from politics while others remained apprehensive of its effective implementation. 

Signaling a slowdown in the sector, Auto maker Mahindra & Mahindra (M&M) has decided to stop production on some days in July at its plants as demand for new vehicles continues to remain sluggish.

Civil aviation sector has a new regulator. The cabinet on Thursday gave its in-principle approval to set up Civil Aviation Authority (CAA) to replace the Directorate General of Civil Aviation (DGCA).  

Chief Economic Adviser Raghuram Rajan will meet investment banks today to discuss overseas funding option.

Telecom stocks could be in action as Communications and Information Technology Minister Kapil Sibal addresses the media on finalisation of Modified Special
Incentive Package Scheme applications.