Tata Power surges on plan to expand generation capacity by

Tata Power Company is currently trading at Rs. 87.60, up by 3.80 points or 4.53% from its previous closing of Rs. 83.80 on the BSE. The scrip opened at Rs. 84.25 and has touched a high and low of Rs. 87.85 and Rs. 83.90 respectively. So far 1021660 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 96.21 on 16-Apr-2013 and a 52 week low of Rs. 65.86 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 85.60 and Rs. 82.15 respectively. The current market cap of the company is Rs. 23509.08 crore. The promoters holding in the company stood at 32.47 % while Institutions and Non-Institutions held 48.56 % and 15.78 % respectively. Tata Power, one of India’s largest private-sector power generators, is planning to increase the overall generation capacity by 849.2 MW. The company has a gross installed capacity of approximately 8,560 MW through thermal, green energy and waste gases of which, as at February 28, 2014, 7,647 MW comes from thermal power sources and 912 MW from green energy sources. Currently, the company has eight projects under execution under solar, wind, hydro and gas based projects in India and overseas. Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

VHCL Industries strengthens on bagging export order worth Rs 57 crore

VHCL Industries is currently trading at Rs. 13.45, up by 0.78 points or 6.16% from its previous closing of Rs. 12.67 on the BSE. The scrip opened at Rs. 12.80 and has touched a high and low of Rs. 13.50 and Rs. 12.75 respectively. So far 10434 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 66.50 on 27-May-2013 and a 52 week low of Rs. 11.80 on 04-Apr-2014. Last one week high and low of the scrip stood at Rs. 15.00 and Rs. 11.80 respectively. The current market cap of the company is Rs. 47.85 crore. The promoters holding in the company stood at 62.24 % while Non-Institutions held 37.76 %. VHCL Industries has received a fresh export order for Rs 57 crore from a new overseas customer from Hong Kong to supply ‘specialty plastic recycled granules’, these granules have been developed to enhance product performance while reducing cost. The company was in the process of developing new markets in order to fulfill its growth vision and achieve sales targets to widen its business activities which would be worthwhile to all stakeholders. Currently, VHCL Industries is involved primarily in the polymer business-Plastic Recycling. The company is the market leader in this field, being the single largest polymer recycling company. The company has its main unit at Union Territory of Dadra and Nagar Haveli.

Bond yields edge higher ahead of Rs 16,000 crore debt sale

Bond yields edged higher as traders made room for upcoming Rs 16,000 crore debt sale on Friday. The bonds after opening higher on continued buying activity soon lost ground on profit-booking in afternoon deals. On the global front, Short and medium-term U.S. Treasuries prices rose on Wednesday as the minutes from the Federal Reserve's policy meeting in March eased some worries the central bank might raise interest rates in the first half of 2015. Meanwhile, brent futures eased towards $107 a barrel on Thursday as weak China trade data stoked demand growth concerns and investors booked profits after gains of 2 percent over the past two days. The yields on new 10 year Government Stock 2023 were trading 2 basis points higher at 9.05% from its previous close of 9.03% on Thursday. The benchmark five-year interest rate swaps were trading 1 basis point lower at 8.55% from its previous close of 8.56% on Thursday. The government of India announced the sale of four dated securities for Rs 16,000 crore on April 11, 2014, which includes (i) 7.80% Government Stock 2020 for a notified amount of Rs 3,000, (ii) 8.83% Government Stock 2023 for a notified amount of Rs 8,000, (iii) 8.32% Government Stock 2032 for a notified amount of Rs 8.32% Government Stock 2032 of Rs 3,000 crore and lastly (iv) 8.30% Government Stock 2042 for a notified amount of Rs 2,000 crore on April 11,2014.

Hindustan Zinc declines on registering 23% drop in Mined metal production in Q4FY14

Hindustan Zinc is currently trading at Rs. 133.00, down by 0.30 points or 0.23 % from its previous closing of Rs. 133.30 on the BSE. The scrip opened at Rs. 133.00 and has touched a high and low of Rs. 135.00 and Rs. 131.50 respectively. So far 63017 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 141.80 on 21-Jan-2014 and a 52 week low of Rs. 94.00 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 135.00 and Rs. 129.00 respectively. The current market cap of the company is Rs. 56196.74 crore. The promoters holding in the company stood at 64.92 % while Institutions and Non-Institutions held 33.35 % and 1.73 % respectively. Hindustan Zinc has registered 23% fall in Mined metal production at 200,000 MT in Q4FY14 as compared to 260,000 MT in corresponding quarter previous year. For the full year, the company’s production of Mined metal stood at 880,000 MT in FY 2013-14 as compared with 870,000 MT in FY13. Hindustan Zinc manufactures three qualities of zinc - special high grade zinc used in construction, infrastructure, household appliances etc; high grade zinc and prime western zinc. It manufactures silver used in photographic material, conductor, jewellery, etc.

BPCL rises on entering into MoU for selling its lubricants at IGL Gas Stations

Bharat Petroleum Corporation (BPCL) is currently trading at Rs. 446.25, up by 6.25 points or 1.42% from its previous closing of Rs. 440.00 on the BSE. The scrip opened at Rs. 440.10 and has touched a high and low of Rs. 447.60 and Rs. 437.25 respectively. So far 77054 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 468.80 on 31-Mar-2014 and a 52 week low of Rs. 256.00 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 457.25 and Rs. 431.90 respectively. The current market cap of the company is Rs. 32162.79 crore. The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.77% and 17.30% respectively. Bharat Petroleum Corporation (BPCL) has entered into a memorandum of understanding (MoU) with Indraprastha Gas (IGL) for selling its lubricants at IGL Gas Stations across Delhi and adjoining towns. IGL currently has a network of 115 CNG Stations across Delhi/NCR and lakhs of customers visit these outlets every day. The agreement is initially valid for a period of 5 years. BPCL is looking to sell 100 tonnes of lubricants through IGL network in 2014-15. BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene.

GAIL trades higher on the bourses

GAIL (India) is currently trading at Rs. 377.45, up by 4.25 points or 1.14% from its previous closing of Rs. 373.20 on the BSE. The scrip opened at Rs. 374.10 and has touched a high and low of Rs. 378.70 and Rs. 372.45 respectively. So far 72459 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 391.40 on 07-Mar-2014 and a 52 week low of Rs. 273.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 379.00 and Rs. 357.45 respectively. The current market cap of the company is Rs. 47745.49 crore. The promoters holding in the company stood at 56.11% while Institutions and Non-Institutions held 40.09% and 2.40% respectively. GAIL India has inaugurated new office building GAIL Jubilee Tower, one of the tallest buildings in the National Capital Region. The 22-storey GAIL Jubilee Tower has a height of 118 metres, more than one-and-half times the height of the Qutub Minar (73 metres). It is one of the tallest buildings in the National Capital Region (NCR) as on date and is equipped with high-speed lifts. The Jubilee Tower has been designed as per LEED-Platinum Green Building norms. The building has its own captive power generation plant using gas engine generators and the waste heat recovered is used to run the Air Conditioning system. A 30 KW solar power plant has been installed for area lighting. Its electricity load will be 40 % less than other similar high-rises. GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services.

Cairn India strengthens as its Q4 average daily gross operated oil production soars by 11%

Cairn India is currently trading at Rs. 356.60, up by 6.10 points or 1.74% from its previous closing of Rs. 350.50 on the BSE. The scrip opened at Rs. 350.00 and has touched a high and low of Rs. 358.25 and Rs. 350.00 respectively. So far 107496 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 358.25 on 10-Apr-2014 and a 52 week low of Rs. 273.40 on 26-Jun-2013. Last one week high and low of the scrip stood at Rs. 358.25 and Rs. 338.35 respectively. The current market cap of the company is Rs. 67835.32 crore. The promoters holding in the company stood at 58.85% while Institutions and Non-Institutions held 27.66% and 13.48% respectively. Cairn India’s Q4 average daily gross operated production was 224,429 barrels of oil equivalent (boe), 11% higher than the corresponding prior period. Working interest production was 13% higher at 142,796 barrels of oil equivalent per day (boepd). The increase was driven by ramp-up at the Rajasthan block, where gross production was 13% higher at 190,881 bopd in Q4.  In Q4 FY2014, production at Cambay block was 50% higher y-o-y at 9,323 boepd, due to the infill drilling campaign that was completed in FY2013. Production at Ravva block was lower in Q4 FY2014 at 24,225 boepd though recovery rates continue to be over 47%. Development Area (DA1), which includes the Mangala and Aishwariya fields, produced a gross average of 162,245 boepd and DA2, which includes the Bhagyam field, produced a gross average of 28,636 boepd. Average gross production for FY2014 was 218,651 boepd, 6% higher than the previous year. During the year, the Rajasthan block achieved a landmark oil production of 200 million barrels and a 200,000 boepd production milestone in March 2014. Cairn India is primarily engaged in the business of oil and gas exploration, production and transportation. Average daily gross operated production was 205,014 boe in Q3 FY2012-13. The Company sells its oil to major refineries in India and its gas to both PSU and private buyers.

Rupee falters after a strong start on large dollar demand from state run banks

Indian rupee, after making a strong start, gave away all its gains and was currently trading against US dollar on Thursday on account of strong dollar demand from state run banks likely for oil and defence related payments. However, gains in local equity markets combined with strength of other Asian market currencies against dollar restricted further losses of local unit. On the global front, dollar hit a three-week low versus a basket of major currencies on Thursday after minutes from the Federal Reserve's March meeting disappointed dollar bulls, while the Aussie dollar surged on data showing solid Australian jobs growth.

The partially convertible currency is currently trading at 60.19, little changed from its previous close of 60.14 on Wednesday. The currency touched a high and low of 60.30 and 60.05 respectively.  The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 60.07 and for Euro stood at 82.78 on April 09, 2014. While, the RBI’s reference rate for the Yen stood at 58.88, the reference rate for the Great Britain Pound (GBP) stood at 100.5639. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date	1US$	1GBP
April 09, 2014	60.07	100.5639
April 07, 2014	59.94	99.3583

(RBI-Reference Rate) 

Gold futures extend gains on global cues

Gold futures traded up on MCX as investors and speculators booked fresh positions in the precious metal tracking firm global cues as the minutes released from the US Federal Reserve’s latest meet allayed fears over the timing of a rise in interest rates in the world’s biggest economy, boosting the appeal of the yellow metal. The contract for June delivery was trading at Rs 28647.00, up by 0.81% or Rs 230.00 from its previous closing of Rs 28417.00. The open interest of the contract stood at 9563.00 lots. The contract for August delivery was trading at Rs 28340.00, up by 0.73% or Rs 205.00 from its previous closing of Rs 28135.00. The open interest of the contract stood at 1480.00 lots on MCX.

Blue Star gains on plan to set up its new manufacturing plant for room air-conditioners

Blue Star is currently trading at Rs. 213.05, up by 1.20 points or 0.57% from its previous closing of Rs. 211.85 on the BSE. The scrip opened at Rs. 213.15 and has touched a high and low of Rs. 216.55 and Rs. 210.00 respectively. So far 17,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 223.60 on 03-Apr-2014 and a 52 week low of Rs. 130.15 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 217.20 and Rs. 203.05 respectively. The current market cap of the company is Rs. 1,906.00 crore. The promoters holding in the company stood at 40.07% while Institutions and Non-Institutions held 25.12% and 34.81% respectively. Blue Star is planning to set up its new manufacturing plant for room air-conditioners and deep freezers at Karnataka and Seemandhra. In this regard, the company will invest Rs 150 crore to set up the plant with an initial capacity of 500,000 units per annum. Moreover, the company is in the process of doubling its market share from the present 7.5% per annum and South India contributes a significant 40% of its total sales annually. At present, the company has five manufacturing facilities at Thane, Bharuch, Dadra, Himachal and Wada. It has a capacity to manufacture 300,000 units of room air-conditioners per annum, which will be increased to around 800,000 units per annum by 2017. Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers. The company has six manufacturing facilities located at Thane, Bharuch, Dadra, Himachal and Wada.

Mentha oil futures edge higher on strong demand

Mentha oil futures traded higher on MCX as speculators enlarged positions driven by strong demand from consuming industries in the spot market. Further, tight stocks position in the physical market due to restricted supplies from the major producing belts too supported the uptrend. However, hopes of higher output from the major producing belts capped some gains in mentha oil prices to some extent. The contract for April delivery was trading at Rs 859.50/Kg, up by 0.55% or Rs 4.70 from its previous closing of Rs 854.80/Kg. The open interest of the contract stood at 3982 lots. The contract for May delivery was trading at Rs 871.20/Kg, up by 0.58% or Rs 5.00 from its previous closing of Rs 866.20/Kg. The open interest of the contract stood at 1051 lots on MCX.

Piramal Enterprises gains on plans of selling 11% stake in Vodafone India

Piramal Enterprises is currently trading at Rs. 570.00, up by 33.85 points or 6.31 % from its previous closing of Rs. 536.15 on the BSE. The scrip opened at Rs. 540.00 and has touched a high and low of Rs. 577.10 and Rs. 539.10 respectively. So far 96941 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 648.30 on 02-Sep-2013 and a 52 week low of Rs. 476.00 on 25-Jun-2013. Last one week high and low of the scrip stood at Rs. 551.00 and Rs. 522.00 respectively. The current market cap of the company is Rs. 9906.85 crore. The promoters holding in the company stood at 52.95 % while Institutions and Non-Institutions held 30.75 % and 16.30 % respectively Piramal Enterprises (Piramal) has decided to divest its entire equity stake, comprising 45,425,328 shares (11%), in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group Plc, for a total consideration of Rs 8,900 crore, valuing the shares of Vodafone India at Rs 1,960 per share. Piramal had acquired these shares at an average price of Rs 1,290 per share for a total consideration of Rs 5,864 crore in two tranches during FY12. Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.

Suven Life surges on securing 2 product patents for NCEs in Canada and Hong Kong

Suven Life Sciences is currently trading at Rs. 77.70, up by 2.35 points or 3.12% from its previous closing of Rs. 75.35 on the BSE. The scrip opened at Rs. 75.95 and has touched a high and low of Rs. 78.95 and Rs. 75.00 respectively. So far 306770 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 83.40 on 12-Nov-2013 and a 52 week low of Rs. 22.00 on 13-Jun-2013. Last one week high and low of the scrip stood at Rs. 78.95 and Rs. 72.70 respectively. The current market cap of the company is Rs. 887.90 crore. The promoters holding in the company stood at 64.76% while Institutions and Non-Institutions held 0.89% and 34.35% respectively. Suven Life Sciences (Suven) has secured two product patents for New Chemical Entities (NCEs) in Hong Kong and Canada for the treatment of disorders associated with Neurodegenerative diseases and these patents are valid through 2023 and 2029 respectively. The granted claims of the patents include the class of selective 5-HT compounds discovered by Suven and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia. With these new patents, the company has a total of fifteen granted patents from Canada and fourteen product patents from Hong Kong. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at Phase-I or Phase-II. Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies through the use of GPCR targets.

Ruchi Soya gains on unveiling refined sunflower oil in Tamil Nadu

Ruchi Soya Industries is currently trading at Rs. 34.35, up by 0.25 points or 0.73% from its previous closing of Rs. 34.10 on the BSE. The scrip opened at Rs. 34.90 and has touched a high and low of Rs. 34.90 and Rs. 34.15 respectively. So far 50226 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 73.85 on 29-Apr-2013 and a 52 week low of Rs. 26.15 on 23-Aug-2013. Last one week high and low of the scrip stood at Rs. 35.45 and Rs. 30.50 respectively. The current market cap of the company is Rs. 1165.82 crore. The promoters holding in the company stood at 55.86% while Institutions and Non-Institutions held 15.80% and 28.35% respectively. Ruchi Soya Industries has launched its refined sunflower oil ‘Sunrich’ in Tamil Nadu. Following the launch, the company is aiming to take its share for Sunrich in the sunflower oil category to 10 per cent and then to 15 per cent in next two to three years. Towards this initiative, the company planned to step up the marketing activities which include 'tripling' of distribution network. At present, the company has about seven lakh retail outlets across the country and the introduction of ‘Sunrich’ was the first step of the company to establish a dominant presence in the segment. Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.

Anuh Pharma soars on getting approval from COFEPRIS for three of its Erythromycin products

Anuh Pharma is currently trading at Rs. 163.40, up by 11.60 points or 7.64% from its previous closing of Rs. 151.80 on the BSE. The scrip opened at Rs. 151.40 and has touched a high and low of Rs. 165.00 and Rs. 151.40 respectively. So far 14130 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 168.80 on 25-Feb-2014 and a 52 week low of Rs. 105.00 on 13-Aug-2013. Last one week high and low of the scrip stood at Rs. 165.00 and Rs. 146.00 respectively. The current market cap of the company is Rs. 128.20 crore. The promoters holding in the company stood at 65.00% while Non-Institutions held 35.00% stake in the company. Anuh Pharma has received approval from COFEPRIS (Health Authority of Mexico) GMP certificate for three of its Erythromycin products. These three products are Erythromycin Estolate, Erythromycin Ethyl Succinate and Erythromycin Stearate. Anuh Pharma is one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs). The company is part of the SK Group, which has evolved as a leading importer, exporter, distributor and manufacturer of bulk drugs, chemicals and pharmaceutical formulations.

Videocon Inds gains on plans of increasing products offering

Videocon Industries is currently trading at Rs. 174.85, up by 2.75 points or 1.60 % from its previous closing of Rs. 172.10 on the BSE. The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 177.50 and Rs. 173.00 respectively. So far 31775 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 232.00 on 11-Jun-2013 and a 52 week low of Rs. 153.00 on 09-Dec-2013. Last one week high and low of the scrip stood at Rs. 175.25 and Rs. 160.40 respectively. The current market cap of the company is Rs. 5648.63 crore. The promoters holding in the company stood at 68.82 % while Institutions and Non-Institutions held 12.04 % and 10.97 % respectively. Videocon Industries, part of the Videocon Group, is planning to invest Rs 125 crore to launch more products and technologies, beef up its distribution network and promote ACs aggressively across its three brands - Electrolux, Kelvinator and Videocon. The company wants to regain some of its lost market share in the AC category by launching more products and technologies. In recent years, the company saw its market share dwindle after South Korean companies LG Electronics and Samsung Electronics Co started dominating the domestic AC segment. Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

World Bank forecasts India’s economy to grow at 5.7% in FY15

In yet another development which would add to the cheer of policymakers battling to restore faltering growth in Asia's third-largest economy, the World Bank on Wednesday projected an economic growth rate of 5.7 percent in fiscal year 2015 for India on the back of a more competitive exchange rate and many large investments going forward.  This development comes a day after multilateral agency International Monetary Fund (IMF) projected India's economy to grow by 5.4% in 2014-15 and 6.4% in 2015-16 on the back of strengthening global growth, improving export competitiveness and implementation of recently approved investment projects. World Bank in its latest edition of 'South Asia Economic Focus, bolstered by permanently more competitive exchange rate and progress towards clearance of important investment projects, forecasted India to see an acceleration of growth (factor costs) to 5.7 percent in FY 2015 from 4.8 percent in FY 2014. The Indian rupee, which plunged to all-time low of 68.85 in August last year, has since then recovered substantially to trade sub 60-levels against the US dollar. However, it pointed that country faces significant amount of threat from its banking sector growing exposure to company debt, which could ultimately affect the government's finances through its ownership and the need to prop up distressed but systemically important banks. Nonetheless, it underscored that South Asian countries - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka - have all largely recovered from last year's financial turmoil caused by changes in US Federal Reserve monetary policy. Besides, World Bank in twice-a-year ‘South Asia Economic Focus’, forecasted that economic growth in the region would rise to 5.8 per cent in 2015 from 5.2 per cent this year and 4.8 percent last year

Bharti Airtel rings loud in early deals on BSE

Bharti Airtel is currently trading at Rs. 321.90, up by 1.70 points or 0.53 % from its previous closing of Rs. 320.20 on the BSE. The scrip opened at Rs. 319.25 and has touched a high and low of Rs. 324.65 and Rs. 319.25 respectively. So far 46127 shares were traded on the counter. The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 373.50 on 01-Nov-2013 and a 52 week low of Rs. 271.50 on 15-Apr-2013. Last one week high and low of the scrip stood at Rs. 327.80 and Rs. 312.00 respectively. The current market cap of the company is Rs. 129335.88 crore. The promoters holding in the company stood at 65.23 % while Institutions and Non-Institutions held 24.53 % and 10.24 % respectively.   Bharti Airtel has inaugurated 100 retail outlets in the country in the last 14 months to offer best service experience to customers. The company has ventured into its company-owned-company-operated (COCO) stores in February last year with the opening of the first store in Delhi. The company has extended this retail footprint to 35 cities and towns across 14 states in a span of 14 months. The stores employ over 1,000 staff members. Further, the new Airtel stores also has outlets that will be run as well as managed by women employees, and will focus on addressing the needs of female customers across the country especially tier 2 and 3 cities. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

Physical Rubber prices declined on Wednesday

Physical Rubber prices declined on Wednesday following the moderate losses in the domestic and international futures. Further, scattered transactions in the market too influenced rubber prices. Spot prices for RSS-4 variety declined to Rs 147 compared to its previous closing of Rs 148; while the RSS-5 variety closed at Rs 143 compared to its previous closing of Rs 143.50. In the futures market, contract of April delivery dropped to Rs 142.70 compared to its previous close of Rs 144.24, while May delivery closed at Rs 146.15 compared to its previous closing of Rs 148.15 on the National Multi Commodity Exchange (NMCE).

CARE reaffirms ratings of Aurionpro Solutions’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Aurionpro Solutions’ long term bank facilities worth Rs 58.00 crore which was reduced from Rs 59.66 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 50 crore. The company has received the ratings on the back of its experienced and professionally qualified promoters and management, geographically diversified revenue profile along with large and abiding customer base and comfortable capital structure.

AurionPro Solutions is a publicly traded technology company providing software products and expert level consulting services to an extensive global customer base. The company provides valuable operational and technical experience in helping banks provide new and innovative products to their customers.

Prime Focus surges as its arm raises Rs 45 crore through private placement of OCDs

Prime Focus is currently trading at Rs. 30.30, up by 0.85 points or 2.89% from its previous closing of Rs. 29.45 on the BSE. The scrip opened at Rs. 30.00 and has touched a high and low of Rs. 30.40 and Rs. 29.90 respectively. So far 70156 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 41.80 on 21-Jun-2013 and a 52 week low of Rs. 23.75 on 05-Dec-2013. Last one week high and low of the scrip stood at Rs. 29.85 and Rs. 27.50 respectively. The current market cap of the company is Rs. 546.05 crore. The promoters holding in the company stood at 41.58 % while Institutions and Non-Institutions held 5.48 % and 52.94 % respectively. Prime Focus’ technology subsidiary - Prime Focus Technologies (PFT), has raised Rs 45crore through a private placement of optionally convertible debentures (OCDs) from a diverse base of High Net-worth Individuals. The funds raised would be used to fuel expansion of its Cloud Technology, CLEAR in the global markets as well as for retiring debt. After 2 years, investors will also have an option of converting up to 25% of the total principal amount into equity of PFT. As part of the process, the current base equity valuation of PFT as determined by a Big Four accounting firm has been established at Rs 1,100 crore. CLEAR Media ERP is a pioneering solution and market leader with the world’s biggest broadcasters and distribution networks using it for managing their revenue and time critical content operations. CLEAR already hosts and manages over 350,000 hours of content and delivers more than 200 TV shows a day.

MAN Industries soars on bagging order worth Rs 700 crore

MAN Industries is currently trading at Rs. 71.00, up by 5.95 points or 9.15% from its previous closing of Rs. 65.05 on the BSE.

The scrip opened at Rs. 70.20 and has touched a high and low of Rs. 76.00 and Rs. 66.40 respectively. So far 1,98,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 110.50 on 10-Jul-2013 and a 52 week low of Rs. 51.10 on 04-Dec-2013.

Last one week high and low of the scrip stood at Rs. 76.00 and Rs. 61.05 respectively. The current market cap of the company is Rs. 413.00 crore.

The promoters holding in the company stood at 52.31% while Institutions and Non-Institutions held 10.01% and 37.68% respectively.

MAN Industries has bagged an order worth Rs 700 crore from domestic and international customers for supply of large diameter pipes for Oil and Gas as well as water sector projects. With this, the company’s order book stood at around Rs 1200 crore.

In addition to the above confirmed order the company has outstanding bids over dollar one billion at various stages of evaluation for several other Oil, Gas and Water projects in India and abroad.

Man Industries (India) is engaged in manufacturing of LSAW Line Pipes, Hsaw Line Pipes and Aluminium Extruded Products. The company has received various certifications such as API, ISO-9001, ISO-9002, ISO-14001, and ISO-18001 for its quality management.

Markets to extend the gaining momentum with a positive start

The Indian markets went for a rally in last session; the election exuberance was clearly visible in marketmen mood and there was aggressive buying after the IMF increased its growth forecast for India in 2014. Today, the start is likely to be in green and the momentum is expected to remain firm, as after IMF, now World Bank has projected an economic growth rate of 5.7 percent in fiscal year 2015 for India on the back of a more competitive exchange rate and many large investments going forward. In other good news, on the back of better business environment India Inc raised $2.72 billion more through external commercial borrowings (ECB) in the first 11 months of financial year 2013-14. The steel stocks may see some action on the World Steel Association (WSA) statement that India’s steel demand may grow 3.3 per cent this year on higher demand from construction and manufacturing sectors. There will be some buzz in the aviation stocks too, as the Sebi is likely to pass final order on Jet Airways, Etihad Airways deal soon.

The US markets bounced back, ending higher in last session following the release of the minutes of the latest Federal Reserve meeting that eased concerns about the central bank raising interest rates sooner than anticipated. The Asian markets after a positive start has pared some gains after the report that Chinese exports unexpectedly fell.

Back home, boisterous benchmarks showcased an enthusiastic performance on Wednesday with bull taking full control of the session as investors continued hunt for fundamentally strong stocks. Earlier, markets after a gap-up opening traded in very tight-band for most part of the day but massive buying in last leg of trade mainly underpinned markets to clock record closing high. Sentiments remained up-beat as traders remained bullish about corporate India’s improvement in new orders and sales growth on a slew of project clearances undertaken by the government in recent months and the possibility of a stable government at the centre, post the Lok Sabha elections. Marketmen also remained optimistic on International Monetary Fund’s (IMF) latest edition of the World Economic Outlook, stating that India’s growth is expected to recover from 4.4 percent in 2013 to 5.4 percent in 2014 supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects. Hopes of BJP-led government coming to power too aided the sentiments. Supportive cues from US markets too provided some support to local markets, while Asian markets too ended mostly in the green terrain. Firm opening in European counters too supported the sentiments. Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated strongly in the rally. Frontline indices ended the session near their day’s high levels with Sensex settling comfortably above their crucial 22,700 levels, while Nifty ended tad below the psychological 6,800 mark, as investors took to hefty across the board buying. The markets sentiment was also boosted by data showing that foreign funds remained net buyers of Indian stocks on April 7, 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 703.71 crore on Wednesday, as per provisional data from the stock exchanges. Meanwhile, rally in banking stocks like Bank of Baroda, South Indian Bank, Indian Bank and Oriental Bank of Commerce supported the sentiments as certain broking firms have upgraded the banking sector to Neutral from Negative earlier on signs of a slight economic turnaround. Moreover, sugar stocks continued to remain on buyers’ radar as speculators indulged in creating positions, supported by summer season demand from bulk consumers amid fall in production. Finally, the BSE Sensex surged by 358.89 points or 1.61%, to settle at 22702.34, while the CNX Nifty gained 101.15 points or 1.51% to settle at 6,796.20.