Kavveri Telecom Products withdraws scheme of Amalgamation with. Kavveri Telecom Infra

With reference to the earlier announcement dated September 05, 2012 and subsequent meeting dated November 26, 2012 regarding the scheme of Amalgamation of Company with Kavveri Telecom Infrastructure Ltd,Kavveri Telecom Products Ltd has informed BSE that the Board of Directors now decided that to withdrawal the scheme of Amalgamation of Kavveri Telecom Infrastructure Limited (KTIL) with Kavveri Telecom Products Ltd. (KTPL) due to unavoidable circumstances.In this regards the Board has given further instructions to Advocate Council to file the withdrawal application with Hon'ble High court of Karnataka, Bangalore to cancel the Scheme of Amalgamation.

KEC International surges on securing orders worth Rs 1,300 crore

KEC International is currently trading at Rs. 35.70, up by 0.75 points or 2.15% from its previous closing of Rs. 34.95 on the BSE.

The scrip opened at Rs. 35.00 and has touched a high and low of Rs. 36.50 and Rs. 34.20 respectively. So far 174347 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 80.70 on 29-Oct-2012 and a 52 week low of Rs. 26.90 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 38.00 and Rs. 33.10 respectively. The current market cap of the company is Rs. 910.09 crore.

The promoters holding in the company stood at 45.39% while Institutions and Non-Institutions held 36.26% and 18.34% respectively.

KEC International (KEC), a global infrastructure EPC major, an RPG Group company has secured new orders of Rs 1,300 crore in its Transmission, Power Systems, Cables and Water businesses. Under Transmission business, the company has won new orders amounting to Rs 909 crore from India, Americas, Saudi Arabia, Afghanistan, Kenya, Kazakhstan and Laos. In India, the company has received order for Supply and erection of a 765 kV double circuit transmission line between Aurangabad -Padghe in Maharashtra. The order is secured from the Power Grid Corporation of India (PGCIL). The order value is Rs 318 crore.

Under Power Systems Business, the Company has won new orders amounting to Rs 75 crore from Laos, Philippines and Malaysia. In Laos, the company has received order for Design, supply and construction of 115/22 kV substations on turnkey basis for the Greater Mekong Subregion Northern Power Transmission Project. The order is secured from the Electricite du Laos (Ministry of Energy and Mines). The order value is Rs 33 crore.

Under Cable Business, the Company has secured Rs 182 crore orders for the supply of Power and Telecom Cables.Under Water Business, the Company has secured two orders amounting to Rs 134 crore from the Water Resources Department of Madhya Pradesh, India. The company has received the first order is for construction of a concrete Dam under pench diversion project at Chourai in Chhindwara district, Madhya Pradesh.

Sun Pharmaceutical Industries fixes record date for bonus issue

Sun Pharmaceutical Industries Ltd has informed BSE that the Company has fixed Record Date as July 30, 2013 in order to determine the names of Members who are entitled to receive Bonus Equity shares in the ratio of 1:1 (i.e. one equity share of Re. 1 each for every equity share of Re. 1 each held by the shareholders).

Nitesh Estates bags Rs 300 crore mid-income housing project in south Bangalore

Nitesh Estates, a property development company, reportedly has inked Rs 300 crore mid-income housing project, British Columbia in south Bangalore. The project is coming up at Kanakapura Road in southern Bangalore and will house 500 apartments ranging from a large 900 square feet up to 1800 square feet. The configuration of apartments will be 2 BHK and 3 BHK, which would be priced between Rs35 lakh to Rs 80 lakh, depending on the unit size.

Recently, the company obtained all requisite clearances to start operations at The Ritz-Carlton, Bangalore, the newest 5 Star Luxury hotel in the Central Business District. It secured all necessary approvals/licenses such as Occupancy Certificate, Tourism Board NOC, Food & Restaurant Permits, Trade License, Pollution Clearance, and Fire Clearance for its commencement. The hotel is scheduled to start full scale of operations by September 30, 2013.

About Nitesh Estates:
Nitesh Estates is in the business of real estate development and is primarily engaged in the development of residential projects in Bangalore. It is also developing a hospitality project in Bangalore, a residential and an office project in Kochi

Supreme Industries soars on Rs 250 crore capital expenditure plan

Supreme Industries is currently trading at Rs. 367.70, up by 7.65 points or 2.12% from its previous closing of Rs. 360.05 on the BSE.

The scrip opened at Rs. 360.00 and has touched a high and low of Rs. 368.70 and Rs. 360.00 respectively. So far 2243 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 377.00 on 03-Jun-2013 and a 52 week low of Rs. 230.00 on 20-Jul-2012.

Last one week high and low of the scrip stood at Rs. 368.70 and Rs. 341.00 respectively. The current market cap of the company is Rs. 4674.59 crore.

The promoters holding in the company stood at 49.64% while Institutions and Non-Institutions held 22.89% and 27.47% respectively.

Supreme Industries has planned a capital expenditure of Rs 250 crore for FY14 to put up a plastic piping system and protective packaging system at Kharagpur in West Bengal.  The capex will also include the purchase of office premises at Delhi, Ernakulam, Hyderabad, Kolkata, Chennai and Indore besides other investments.

Besides, the company plans to increase its export business in the next 4-5 years to 7-8% of the total turnover as compared to 2.5-3% of the turnover at present. It expects a 14% growth in terms of volume during FY14.

About Supreme Industried:
Supreme Industries, incorporated in 1942, manufactures a wide range of polymers products. It offers a wide and comprehensive range of plastic products and operates in various segments including plastics piping systems, protective packaging products, industrial components, material handling systems and cross laminated polyethylene films.

WABAG JV wins 344 Crore World Bank Funded Project from Philippines

VA Tech Wabag is currently trading at Rs 447.90, up by 12.60 points or 2.89% from its previous closing of Rs 435.30 on the BSE.

The scrip opened at Rs 438.00 and has touched a high and low of Rs 452.00 and Rs 438.00 respectively. So far 966 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 589.00 on 11-Jan-2013 and a 52 week low of Rs 423.05 on 13-Jun-2013.

Last one week high and low of the scrip stood at Rs 456.00 and Rs 432.00 respectively. The current market cap of the company is Rs 1156.04 crore.

The promoters holding in the company stood at 30.91% while Institutions and Non-Institutions held 50.03% and 19.07% respectively.

VA Tech Wabag, a leading multinational company specialized in water and waste water management, in partnership with a local civil construction company, JV ANGELES Construction Corporation, Philippines has bagged an order from Manila Water Company, Philippines for a value of Rs 344 crore. The company is the Lead Partner and the project is funded by World Bank.

The scope of work comprises design and construction of 100 MLD Ilugin Sewage Treatment Plant for Pasig River Wastewater Catchment, Pasig city, Metro Manila with operation of the plant for a period of two years.

VA Tech Wabag is a multinational player in the water treatment industry. It offers complete life cycle solutions including conceptualization, design, engineering, procurement, supply, installation, construction and O&M services.

MMTC to achieve turnover target of Rs 40,000 crore during 2013-14

MMTC, a state owned trading company, would achieve the turnover target of Rs 40,000 crore during 2013-14 set by the Government. The company expects its turnover to increase by about 40% to Rs 40,000 crore in the current fiscal. This has been possible because of the significant increase in agro, hydrocarbon and mineral business.

In the first three months of the current fiscal, the state-owned firm’s turnover rose 58% year-on-year to Rs 9,709 crore. In the last fiscal, the company reported a net loss of Rs 70.62 crore due to 57% decline in total revenues at Rs 28,598 crore compared to the previous fiscal.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.

Container Corporation rallies on bonus issue plan

Container Corporation of India has rallied 6% to Rs 1,155 after the state-owned company said it will consider issuing free shares to its existing equity shareholders.

“The board of directors of the company is schedule to meet on July 25, to consider issue of bonus share to the shareholders of the company, which if agreed will be subject to applicable regulatory provisions and approvals required,” Container Corporation said in a BSE filing.

Earlier in 2008, the company had issued bonus shares in the ratio of 1:1.

Meanwhile, the board will also consider the approval of un-audited financial results for the quarter ended on June 30, 2013 (Q1), it added.

The stock opened at Rs 1,145 and hit a high of Rs 1,160 on BSE. A combined 9,927 shares have changed hands on the counter till 0950 hours on BSE and NSE.

BEML gains on bagging order worth Rs 747 crore from DMRCL

BEML is currently trading at Rs. 178.25, up by 5.35 points or 3.09% from its previous closing of Rs. 172.90 on the BSE.

The scrip opened at Rs. 177.95 and has touched a high and low of Rs. 180.50 and Rs. 176.85 respectively. So far 19,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 368.00 on 19-Jul-2012 and a 52 week low of Rs. 136.30 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 175.80 and Rs. 162.40 respectively. The current market cap of the company is Rs. 742.00 crore.

The promoters holding in the company stood at 54.03% while Institutions and Non-Institutions held 27.02% and 18.95% respectively.

BEML, a premier Public Sector Company under the Ministry of Defence, has bagged a new order worth Rs 747 crore from Delhi Metro Rail Corporation (DMRCL). The order is for manufacture and supply of 92 sets of standard gauge metro cars for the phase III, RS-9 project of DMRCL. This order will boost the present order book position of the company to Rs 6,400 crore.

In addition to this, orders for manufacture and supply of standard gauge driverless metro cars for MRTS Phase-III project from DMRCL and orders for mainline passenger coaches and stainless steel sub-urban trains are on the anvil.

About BEML LTD:
BEML (formerly Bharat Earth Movers) was established for undertaking manufacture of Rail Coaches & Spare Parts and Mining Equipment at its Bangalore Complex.

Hanung Toys jumps after winning export order

Hanung Toys and Textiles jumped 5.41% to Rs 76.95 at 9:23 IST on BSE after the company said it bagged an export order worth $60 million from a leading US-based buyer.

On BSE, 51,000 shares were traded in the counter as against an average daily volume of 74,032 shares in the past one quarter.

The stock hit a high of Rs 79 and a low of Rs 76.85 so far during the day. The stock had hit a 52-week low of Rs 67.40 on Thursday, 18 July 2013. The stock had hit a 52-week high of Rs 179.55 on 8 January 2013.

The stock had underperformed the market over the past one month till 18 July 2013, sliding 36.63% compared with the Sensex's 4.71% rise. The scrip had underperformed the market in past one quarter, falling 44.74% as against Sensex's 5.85% rise.
The small-cap company has an equity capital of Rs 26.58 crore. Face value per share is Rs 10.

Hanung Toys and Textiles said it won an order from a leading US-based buyer for exporting value-added home furnishing to the extent of $60 million (approximately Rs 360 crore) to be completed within three years.

Hanung Toys & Textiles reported net loss of Rs 33.06 crore in Q4 March 2013, as against net profit of Rs 43.66 crore in Q4 March 2012. Net sales rose 13.78% to Rs 528.42 crore in Q4 March 2013 over Q4 March 2012.

About Hanung Toys & Textiles:
Hanung Toys & Textiles operates in two segments -- toys and textiles.

Sebi, NSE bar 26 entities from market in Prime Broking case

Banned entities include Prime Securities Ltd as well as Mehul Choksi, promoter of Gitanjali Gems.

The Securities and Exchange Board of India (Sebi) and the National Stock Exchange have barred 26 entities from the stock market in connection with a case involving unusual trades handled by Prime Broking in Gitanjali Gems shares.

The banned entities include Prime Securities as well as Mehul Choksi, managing director (MD) and promoter of Gitanjali Gems, according to a notice put on the exchange’s website on Thursday. Choksi denied any involvement with Prime Securities. “I am very surprised... I have nothing to do with Prime. I shall review my options,” he said.
Other barred entities include Albers Diamonds, Avtar Gems, Fender Mercantile, Jaiwanti Mercantiles, Somerset Infrastructure and Sneaking Infrastructure.
According to the circular, the investigation into Prime Broking and the trading activity in Gitanjali is still ongoing. The ban would remain for six months or till the investigation is complete, whichever is earlier, said the circular.
“Pursuant to the decision of Sebi and NSE, which are investigating the trading activity of Prime Broking Company (India) Ltd and trading in Gitanjali Gems Ltd… (the 26 entities) are disabled from trading with immediate effect for a period of six months or till conclusion of investigation by NSE, whichever is earlier,” said the circular.
The exchange had announced on June 28 that it was conducting the investigation and had said that it would be halting the pay-out for the transactions.
It was also to issue a showcause notice to Prime on the matter. In the first week of July, Prime had moved the Bombay High Court, asking for a stay on being declared a defaulter. The Bombay High Court did not grant a stay.
According to sources, the NSE has already disabled the terminals of Prime. N Jayakumar, MD of Prime Securities, did not respond to calls to his mobile. A message seeking comment, too, did not receive a reply.
The share price of Gitanjali Gems was down five per cent to close at Rs 115.6 on Thursday.

RBI lifts ban on purchase of shares in Shriram City Union

RBI advised that the foreign share holding by FIIs in this company have gone below the revised limit stipulated under the FDI Policy
The Reserve Bank of India (RBI) lifted the restriction on purchase of shares in non-banking financial company Shriram City Union Finance by allowing FIIs (foreign institutional investors) to hold up to 74% of the paid up capital. 

"The Reserve Bank of India notified that Shriram City Union Finance has passed resolutions...to enhance the limit for purchase of its equity shares and convertible debentures by FIIs through primary market and stock exchanges up to 74% of its paid up capital, under the PIS," RBI said in a notification on Thursday. 

The RBI has also advised that the foreign share holding by FIIs in this company have gone below the revised threshold limit stipulated under the current FDI Policy. 

Hexaware Technologies declares 70% interim dividend

Hexaware Technologies Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 19, 2013, inter alia, has declared payment of interim dividend @ Rs 1.40 per share (70%) on equity shares of Rs. 2/- each.The interim dividend on equity shares as declared in the Board Meeting held on July 19, 2013 shall be paid on August 06, 2013.

Reliance Infrastructure launches ADR scheme in Mumbai

Reliance Infrastructure (RInfra), the country’s leading integrated power distribution company, has tied-up with the United States (US) based Innovari Inc., for the pilot implementation of the Automatic Demand Response (ADR) in its licensed distribution area. With this RInfra became India’s first power distribution company to launch globally successful ADR program for the benefit of its consumer in Mumbai.

RInfra’s high end consumer can now voluntarily control their unwarranted power consumption and reduce their monthly electricity bills. The program will bring in triple benefits for participating consumers. They can reduce power wastages or unwanted power consumption during peak hours; earn incentives for participating in the program and reduce their monthly electricity bills.

Reliance Infrastructure is the largest infrastructure company developing projects, through various Special Purpose Vehicles (SPVs), in several high growth areas in the Infrastructure sector i.e. Roads, Metro Rail, and Airports & Cement.

Markets to get a flat-to-positive start on mixed global cues

The Indian markets picked up pace in the final hours of trade in last session to post handsome gains, supported by some better than expected earnings announcement from the banking sector, the rate sensetives’ too were in action. Today, the start is likely to be flat-to-positive as the regional cues are not very firm. Traders will be eyeing the rupee movement, as despite all the government and RBI measures it once again started depreciating, weighed down by the US dollar's gains against other currencies. International credit rating agency Moody’s has warned that the rupee fall may constrain country’s sovereign credit rating, as it will exacerbate inflationary and fiscal pressures. Meanwhile, RBI Governor D Subbarao has said that the currency’s exchange rate will largely be market-determined but central bank would intervene to prevent disruptions to macro-economic stability. Power sector will keep buzzing on report that an Empowered Group of Ministers headed by Defence Minister A.K. Antony will likely meet on July 25 to finalise the bidding norms for ultra mega power projects (UMPP). IT sector will be in cheerful mood as Tata Consultancy Services (TCS) has beaten the Street estimates with an excellent set of numbers for the June quarter.

There will be lots of important result announcements to keep the markets buzzing, Bajaj Auto, CRISIL, Eclerx Services, Federal Bank, HDFC, Hindustan Zinc, Hindustan Media, Hexaware Technologies, JK Paper, NIIT, Uco Bank, Unichem Lab and RIL are among the many to announce their numbers today.

The US markets extended their gaining streak in last session supported by slew of upbeat economic data. While, the initial jobless claim fell sharply in last week, index of regional manufacturing activity in Philadelphia unexpectedly jumped in July. The Asian markets have made a mixed start with some of the indices trading lower by over a percent in early deals, led by tech stocks after Google and Microsoft earnings missed estimates. Meanwhile, South Korean Finance Minister Hyun Oh Seok has called G-20 nations to coordinate to handle spillover of US Fed’s move of tapering stimulus measures.

Back home, extending their last session’s rally, Indian equity indices snapped Thursday’s trade near their intraday high with frontline gauges recapturing their crucial 6,000 (Nifty) and 20,100 (Sensex) bastions. Sentiments remained up-beat since beginning of the trade with leading industry bodies FICCI and CII welcoming the government’s step to raise foreign direct investment (FDI) limits in insurance, retail, telecom, defence and a host of other sectors. But, indices dipped to their intraday low level in noon deals, just managing to hold in green terrain, as market-participants, shunning the early optimism, resorted to profit-booking on account of Rupee’s weakness. Increased demand of dollar from importers amidst greenback’s strength in overseas market also weighed on the local unit, overriding the central bank’s attempt to stamp down on speculation.  Sharp up-move in last leg of trade helped the market to end near intraday high, garnering gain of about a percentage point as recovery in European markets after a cautious start supported the sentiments. Rally in oil and gas counter too supported the sentiments after the Union Petroleum and Natural Gas Minister Veerappa Moily emphasized the need for greater investment in the oil and gas sector and has said that the government is committed to deal with the energy security issues. Meanwhile, sentiments across the globe remained up-beat after US Federal Reserve chairman Ben Bernanke suggested stimulus policies may continue for longer than expected. Back home, rally in power and fertilizer stocks too aided the sentiments as the government has decided not to divert supply of domestic gas from urea manufacturers to the fuel-starved power sector, while the empowered group of ministers (EGoM) on gas allocation will meet again on Monday to find some solution for the power sector. FMCG stocks like Hindustan Unilever, ITC, Dabur India and Godrej Consumer Products scaled record high, as a bountiful rainfall this year has prepared the ground for bumper harvest. Bounce back in rate sensitive sectors like realty and banking too supported the sentiments. Investors opted to pile up position in banking stocks after Axis Bank and Kotak Mahindra Bank reported better that expected Q1 numbers. Finally, the BSE Sensex surged 179.68 points or 0.90% to settle at 20128.41, while the CNX Nifty climbed by 64.75 points or 1.08 % to end at 6,038.05.