HDFC trades in green on the bourses

HDFC is currently trading at Rs. 886.40, up by 1.45 points or 0.16% from its previous closing of Rs. 884.95 on the BSE. The scrip opened at Rs. 887.80 and has touched a high and low of Rs. 891.35 and Rs. 877.45 respectively. So far 34959 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 933.00 on 10-Apr-2014 and a 52 week low of Rs. 632.20 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 895.50 and Rs. 862.25 respectively. The current market cap of the company is Rs. 137951.08 crore.  The Institutions and Non-Institutions held 87.65% and 12.35% respectively. Housing Development Finance Corporation (HDFC), India’s largest housing finance company, has raised External Commercial Borrowing (ECB) of $300 million from a consortium of 4 lenders, State Bank of India (SBI), Sumitomo Mitsui Banking Corporation (SMBC), The Bank of Tokyo-Mitsubishi UFJ, and DBS Bank. The ECB which is in the form of a syndicated loan facility is a first by an Indian Housing Finance Company (HFC) under the low cost affordable housing scheme of Reserve Bank of India (RBI). SBI and SMBC are the original mandated lead arrangers and book runners, while The Bank of Tokyo-Mitsubishi UFJ and DBS Bank are mandated lead arrangers. The borrowing facility has a tenor of 5 years. The company has drawn-down the facility in February 2014 from the above consortium of lenders. The rate of interest on the facility is linked to USD Libor plus a spread of 1.75%. HDFC has swapped the facility in Indian Rupees for the entire tenor of the loan. Road shows shall be conducted by the lender banks in Taipei & Singapore in March 2014 to syndicate the facility and invite other international banks to participate in the facility. RBI in December 2012, permitted to HFCs/ NHB to raise ECBs for financing prospective owners of low cost affordable housing units. Low Cost Affordable Housing units have been defined as units where the property cost does not exceed Rs 30 lakhs, loan amount is capped at Rs 25 lakh and the carpet area does not exceed 60 square metres.

Dabur India reports 17% rise in Q4 consolidated net profit Apr-29-2014 03:02 Hrs IST

The company has posted a rise of 17.68% in its net profit at Rs 187.90 crore for the quarter ended March 31, 2014 as compared to Rs 159.67 crore for the same quarter in the previous year. Total income of the company increased by 14.09% at Rs 1280.90 crore for quarter under review as compared to Rs 1122.74 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 17.32% rise in its net profit at Rs 235.29  crore for the quarter ended March 31, 2014 as compared to Rs 200.55 crore for the same quarter in the previous year. Total income of the company went up by 15.56% at Rs 1812.75 crore for quarter under review as compared to Rs 1568.61 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 13.73% in its net profit at Rs 672.10 crore as compared to Rs 590.98 crore for the same period in the previous year. Total income of company improved by 12.06% at Rs 4979.65 crore for year under review as compared to Rs 4443.62 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 19.71% in its net profit at Rs 913.92 crore as compared to Rs 763.42 crore for the same period in the previous year. Total income of company has increased by 15.10% at Rs 7225.89 crore for year under review as compared to Rs 6277.96 crore for the period ended March 31, 2013.

Hexaware Technologies declines on reporting 11% fall in Q1 consolidated net profit

Hexaware Technologies is currently trading at Rs 154.10, down by 17.50 points or 10.20% from its previous closing of Rs 171.60 on the BSE. The scrip opened at Rs 172.05 and has touched a high and low of Rs 172.95 and Rs 150.40 respectively. So far 1136906 shares were traded on the counter. The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 179.85 on 23-Apr-2014 and a 52 week low of Rs 72.30 on 25-Jun-2013. Last one week high and low of the scrip stood at Rs 179.85 and Rs 169.10 respectively. The current market cap of the company is Rs 4606.09 crore. The promoters holding in the company stood at 63.84% while Institutions and Non-Institutions held 18.58% and 10.48% respectively. Hexaware Technologies has reported results for first quarter ended March 31, 2014. The company has posted a rise of 35.98% in its net profit at Rs 96.04 crore for the quarter ended March 31, 2014 as compared to Rs 70.63 crore for the same quarter in the previous year. Total income from operations of the company increased by 9.27% at Rs 253.31 crore for quarter under review as compared to Rs 231.83 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 11.33% fall in its net profit at Rs 70.30 crore for the quarter ended March 31, 2014 as compared to Rs 79.28 crore for the same quarter in the previous year. However, total income from operations of the company rose by 15.99% to Rs 588.88 crore for quarter under review as compared to Rs 507.68 crore for the quarter ended March 31, 2013.

GMR Energy withdraws DRHP filed with SEBI on various business reasons

GMR Energy has withdrawn the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) due to various business reasons on April 28, 2014. The company had filed a DRHP with SEBI on March 28, 2014. GMR Energy Trading is a part of the prestigious GMR Group of companies. The GMR Group has a significant presence in the power sector through its power companies, under the flagship of GMR Energy. GMR Group has a current installed capacity of 823 MW of power projects with nearly 8000 MW under various stages of implementation and development.

Force Motors gains on plan to establish manufacturing facility at Tamil Nadu

Force Motors is currently trading at Rs. 382.80, up by 0.90 points or 0.24% from its previous closing of Rs. 381.90 on the BSE. The scrip opened at Rs. 382.00 and has touched a high and low of Rs. 384.80 and Rs. 381.00 respectively. So far 1409 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 440.00 on 09-Apr-2014 and a 52 week low of Rs. 225.00 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 393.85 and Rs. 376.05 respectively. The current market cap of the company is Rs. 502.08 crore. The promoters holding in the company stood at 56.54 % while Institutions and Non-Institutions held 5.99 % and 37.47 % respectively. Force Motors has received an approval to establish a manufacturing facility at Anjur village, Chengelpet taluka, Kancheepuram district in state of Tamil Nadu to manufacture/assemble Engine-Gearbox for automobiles. The board of directors at its meeting held on April 29, 2014, has decided and approved for the same. Further, the above is subject to receipt of necessary approvals, sanctions, from the statutory authorities and subject to the contracts with the other contracting parties. Force Motors is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

Exide Industries reports 9% drop in Q4 net profit

Exide Industries has reported results for fourth quarter and year ended March 31, 2014 The company has posted a fall of 9.77% in its net profit after tax at Rs 132.14 crore for the quarter ended March 31, 2014 as compared to Rs 146.46 crore for the same quarter in the previous year. However, total income of the company has increased by 3.14% at Rs 1622.79 crore for quarter under review as compared to Rs 1573.38 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted fall of 6.82% in its net profit after tax at Rs 487.08 crore as compared to Rs 522.78 crore for the same period in the previous year. Total income of company has decreased by 2.43% at Rs 5997.27 crore for year under review as compared to Rs 6147.25 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a fall of 0.85% in its net profit after tax, share of minority interest and share of profit from associates at Rs 544.66 crore as compared to Rs 549.35 crore for the same period in the previous year. However, total income of company has increased by 30.48% at Rs 8379.65 crore for year under review as compared to Rs 6421.94 crore for the period ended March 31, 2013.

Reliance Mutual Fund files offer document for Debt Opportunities Fund (Plan A to Plan E)

Reliance Mutual Fund has filed offer document with SEBI to launch a close ended equity scheme fund as “Reliance Debt Opportunities Fund (Plan A to Plan E)”. The New Fund Offer price is Rs 10 per unit. Entry load charges will be nil for the scheme and exit load for plan A 1% if redeemed or switched out, within or equal to 3 months or residual maturity, whichever is lower, from the date of allotment of units & nil thereafter, For Plan B 1% if redeemed or switched out, within or equal to 1 year or residual maturity, whichever is lower, from the date of allotment of units & nil thereafter, Plan C 1% if redeemed or switched out, within or equal to 2 years or residual maturity, whichever is lower, from the date of allotment of units & nil thereafter, Plan D 1% if redeemed or switched out, within or equal to 3 years or residual maturity, whichever is lower, from the date of allotment of units & nil thereafter, Plan E 1% if redeemed or switched out, within or equal to 4 years or residual maturity, whichever is lower, from the date of allotment of units & nil thereafter . The Minimum Target Amount of Rs 20 crore. The scheme will be benchmarked against for a plan with tenure* ranging between 90 days to 3 yrs-Crisil Short Term Bond Fund Index, for a plan with tenure ranging between 3 yrs 1 day to 10 yrs-Crisil Composite Bond Fund Index. The minimum application amount is Rs.5000 and in multiples of Rs.10 thereafter. The investment objective of the scheme is to generate income through investments in a range of debt and money market instruments having maturity less than or equal to the residual maturity of the respective plans.

Benchmarks recover from day’s low; broader indices continue to outperform

Recovering from day’s low, benchmark equity indices gained bit of momentum however were still trading below the neutral line in red, with loss of over quarter of a percent in afternoon deals. However, going further in the session Markets could bounce back into positive territory tailing positive start of European markets. Presently, off day’s high, while Sensex and Nifty were little short of the crucial 22,550 and 6750 levels respectively. Conversely, broader indices outperforming larger peers were trading with gains in range of 0.25%-0.50%. On the global front, against the backdrop of indecisive performance of Asian counterparts, European share market got off to a positive start amidst caution ahead of outcome of U.S. Federal Reserve's policy meet on late Wednesday and a clutch of US economic data in the week ahead. Closer home, most of the sectoral indices on BSE were trading into positive terrain, nevertheless prominent gainers were stocks belonging to Consumer Durables, Realty and Information Technology counters which garnered maximum investors’ interest. On the flip side, stocks from Metal, Fast moving consumer goods and Auto counters were witnessing maximum brunt of profit-booking. Amongst non-sectoral guage activity, telecom stocks rang loud after The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) Tuesday cleared the 3G intra-circle roaming agreements signed between Bharti Airtel, Vodafone India and Idea Cellular, saying the pacts didn't violate any license conditions and also quashed the penalties levied on the three operators by the telecom department (DoT). The overall market breadth on BSE is in the favour of advances which thumped declines in the ratio of 925:886; while 49 shares remained unchanged. The BSE Sensex is currently trading at 22545.85, down by 85.76 points or 0.38% after trading in a range of 22,681.89 and 22,470.43. There were 9 stocks advancing against 21 stocks declining on the index. The broader indices have added gains; the BSE Mid cap index was up by 0.29%, while Small cap index up by 0.57%. The gaining sectoral indices on the BSE were Consumer Durables up by 0.78% Realty up by 0.59%, IT up by 0.35%, Teck up by 0.26% and Capital Goods were up by 0.09%. While, Metal down by 1.58%, FMCG down by 0.76%, Auto down by 0.71% Bankex down by 0.58% and Power down by 0.37% were the losing indices on BSE.    The top gainers on the Sensex were Wipro up by 1.03%, Sun Pharma up by 0.57%, L&T up by 0.41%, ONGC up by 0.30% and Infosys up by 0.25%. On the flip side, Tata Steel down by 3.13%, Hindustan Unilever down by 2.17%, Bajaj Auto down by 2.03%, Hindalco Inds down by 1.42% and Cipla down by 1.33%. Meanwhile, the Fitch group entity India Ratings has stated that the new government will need to push strong policy reforms to bring economy back to higher growth trajectory. In its latest report it has stated that though the worst appeared to be over, Indian economy is unlikely to migrate to a high growth phase of around 9% over the next two-to-three years. Indian rating has kept its growth forecast for FY15 at 5.6 %. The rating agency also rejected the possibility of drop in farm productivity saying that the reservoir are a decadal high already and it is too early to assess the impact of possible El Nino. India Meteorological Department (IMD) predicted a sub-normal monsoon this year because of the El Nino effect. It has noted that till April 3, 2014 adequate water storage in major reservoirs was 25 per cent higher than last year and 37 per cent higher than the average of last 10 years which will help in alleviating some pressure which is likely to emanate from lower-than-average seasonal rainfall. The rating agency projects seasonal factors primarily rainfall to continue to exert pressure on inflation. However, it expect that both WPI and CPI-based inflation to fall and average out at 5.5 per cent and 8 per cent in FY15. Further, India Ratings estimates current account deficit (CAD) to be $45.4 billion (2.1 percent of GDP) in FY15 as against around $32 billion (1.7% of GDP) last fiscal. Capital flows are expected to be buoyant and are estimated to touch $60 billion in FY15. Rise in foreign currency assets and a manageable CAD will support the rupee, which is expected to settle at around 57-58 by end of FY15. It added that a mild decline in inflation and the rupee appreciation will impact interest rate positively and expects 10-year G-sec rate to settle around 8.3-8.4% by end-March 2015. Regarding the industry growth, the report highlighted that the industrial sector will grow by 4.1 % in FY15 mainly due to better mining and electricity sector performance. Indian economic growth is estimated at around 4.9% during the FY14. The CNX Nifty is currently trading at 6,740.75, down by 20.50 points or 0.30% after trading in a range of 6,779.70 and 6,711.10. There were 22 stocks advancing against 26 declining on the index, while 2 stocks remained unchanged. The top gainers of the Nifty were Grasim up by 2.33%, Ambuja Cement up by 1.82%, Ultratech Cement up by 1.81%, Tech Mahindra up by 1.61% and ACC up by 1.27%. On the flip side, Jindal Steel down by 3.58%, Tata Steel down by 3.11%, HUL down by 2.30%, Bajaj Auto down by 2.19% and Hindalco Inds down by 1.52% were the major losers on the index. Asian equity indices were trading mixed; Hang Seng up by 0.17%, Shanghai Composite up by 0.53% and Taiwan Weighted up by 0.71%. While,  Straits Times was down by 0.44%, Nikkei 225 down by 0.98% and Jakarta Composite down by 0.19%.  European shares got off to a positive start; with CAC 40 adding 0.38%, DAX rising by 0.48% and FTSE 100 advancing 0.22%.

Wockhardt trades jubilantly on the bourses

Wockhardt is currently trading at Rs. 835.00, up by 113.20 points or 15.68% from its previous closing of Rs. 721.80 on the BSE. The scrip opened at Rs. 727.95 and has touched a high and low of Rs. 843.75 and Rs. 727.00 respectively. So far 2259155 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1944.85 on 02-May-2013 and a 52 week low of Rs. 336.60 on 16-Dec-2013. Last one week high and low of the scrip stood at Rs. 843.75 and Rs. 623.00 respectively. The current market cap of the company is Rs. 9164.89 crore. The promoters holding in the company stood at 74.70%, while Institutions and Non-Institutions held 7.84% and 17.32% respectively. Wockhardt will resume manufacturing, selling and distributing the Fixed Dose Combination (FDC) of Dicyclomine Hydrochloride IP 10mg, Tramadol Hydrochloride IP 50mg & Acetamenophen IP 325mg after getting suspension revoke by the State Drug Controller in Himachal Pradesh.  Earlier, the company’s certain drugs had been suspended by the State Drug Controller in state of Himachal Pradesh. Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.

ICICI Prudential Mutual Fund files offer document for Small Cap Fund

ICICI Prudential Mutual Fund has filed offer document with SEBI to launch a close ended equity scheme named as “ICICI Prudential Small Cap Fund”. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The Minimum Target Amount of the fund is Rs 10 crore. The scheme will be benchmarked against CNX Small Cap Index. The minimum application amount is Rs.5000 and in multiples of Rs.10 thereafter. The investment objective of the scheme is to generate capital appreciation by investing predominantly in equity and equity related securities of small cap companies.

Soyabean futures edge lower on weak demand

Soyabean futures edged lower on NCDEX due to weak demand and ample stocks in the spot market. However, a government report showed increased overseas demand for supplies from the biggest grower US, capped some losses in soyabean prices to some extent. The contract for May delivery was trading at Rs 4781.00, down by 1.11% or Rs 53.50 from its previous closing of Rs 4834.50. The open interest of the contract stood at 75570 lots. The contract for June delivery was trading at Rs 4776.50, down by 1.20% or Rs 58.00 from its previous closing of Rs 4834.50. The open interest of the contract stood at 98710 lots on NCDEX.

TCI aims to lower share of its freight business

Transport Corporation of India (TCI) is targeting to lower the share of its freight business, which is the firm’s lowest margin segment, to 33 per cent in its total revenue pie, over the next three years.

For the first nine months of last fiscal, the freight segment accounted for 38 per cent of total revenue. The freight division, which is the basic transportation service segment, had an operating margin of 3-5 per cent.

TCI has three key business segments - freight, express and supply chain - of which express and supply chain provide transport-based business with value-added services.

Idea Cellular plans to invest Rs 3,500 crore in building networks

Idea Cellular, India’s 3rd largest mobile operator is planning to invest Rs 3,500 crore in building network and launching 3G service in Delhi next year. In the spectrum auction held in February, the company won 5 megahertz of spectrum in 900 MHz band in Delhi service area which it will use to launch 3G services in the national capital next year. Post Delhi 3G service launch, the 3G footprint of Idea will cover about 80% of its current revenue and about 57% of national mobile industry revenue. Currently, the company has permit for 3G services in 11 service areas - Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh East and West, Jammu and Kashmir, Madhya Pradesh and Himachal Pradesh.  During the January-March quarter, Idea added 5.1 million new 3G subscribers doubling its total 3G user base to 10.2 million. Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

Hindustan Unilever hits one-month low post Q4 numbers

Hindustan Unilever (HUL) is currently trading at Rs. 566.25, down by 14.35 points or 2.47% from its previous closing of Rs. 580.60 on the BSE. The scrip opened at Rs. 583.00 and has touched a high and low of Rs. 583.90 and Rs. 566.00 respectively. So far 97410 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 725.00 on 24-Jul-2013 and a 52 week low of Rs. 457.90 on 29-Apr-2013. Last one week high and low of the scrip stood at Rs. 603.60 and Rs. 565.10 respectively. The current market cap of the company is Rs. 123024.98 crore. The promoters holding in the company stood at 67.25% while Institutions and Non-Institutions held 18.22% and 14.53% respectively. Hindustan Unilever has reported a rise of 10.79% in its net profit after tax at Rs 872.13 crore for the quarter ended March 31, 2014 as compared to Rs 787.2 crore for the same quarter in the previous year. Total income of the company has increased by 10.24% at Rs 7244.73 crore for quarter under review as compared to Rs 6571.64 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the company has reported a rise of 1.86% in its net profit after tax at Rs 3867.49 crore as compared to Rs 3796.67 crore for FY13. Total income of the company has increased by 8.41% at Rs 28640.16 crore for year under review as compared to Rs 26417.11 crore for the year ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the group has posted a rise of 3.04% in its net profit after tax, minority interest and share of profit / (loss) of associate at Rs 3945.57 crore as compared to Rs 3828.98 crore in FY13. Total income of the company has increased by 8.23% at Rs 29804.26 crore for year under review as compared to Rs 27536.02 crore for the year ended March 31, 2013.

Arrow Coated Products touches roof on receiving grant of Water Soluble Film Based Matrix Patent

Arrow Coated Products is currently trading at its upper circuit limit of Rs. 71.75, up by 3.40 points or 4.97% from its previous closing of Rs. 68.35 on the BSE. The scrip opened at Rs. 71.70 and has touched a high and low of Rs. 71.75 and Rs. 71.70 respectively. So far 2128 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 72.35 on 03-Apr-2014 and a 52 week low of Rs. 8.14 on 21-May-2013. Last one week high and low of the scrip stood at Rs. 71.75and Rs. 61.00 respectively. The current market cap of the company is Rs. 84.23 crore. The promoters holding in the company stood at 74.15%, while Institutions and Non-Institutions held 0.18% and 25.67% respectively. Arrow Coated Products (ACPL) has received a grant for patent titled ‘Water Soluble Film Based Matrix’ from US Patent Office. The rights under this patent are protected till 2027. The invention under this patent provides water soluble film based matrix for collecting and storing samples extracted from living species for avoiding cross infection or spillage of samples. The present invention also eliminates the problem of disposal of used containers. The principal end use is to collect pathological samples for labs, to analyze and verify the presence or absence of pathogens. Arrow Coated Products is pioneer in manufacturing Water Soluble Film by a unique method using detachable liners. The company’s RND department has many years experience in Coatings, Security Printing, and casting films since many years. It has a total of 30 Granted Patents in India, US, Europe, Eurasia, Africa, and Australia. It is also prosecuting several other patents in other countries.

Crude palm oil futures edge lower on subdued demand

Crude palm oil futures edged lower on MCX due to subdued demand in the spot market against higher supplies from the major producing belts. Further, weak Malaysian palm oil export data too influenced crude palm oil prices. The contract for April delivery was trading at Rs 567.70/10Kg, down by 0.04% or Rs 0.20 from its previous closing of Rs 567.90/10 Kg. The open interest of the contract stood at 495 lots. The contract for May delivery was trading at 565.20/10Kg, down by 0.23% or Rs 1.30 from its previous closing of Rs 566.50/10 Kg. The open interest of the contract stood at 3304 lots on MCX.

Arrow Coated Products receives grant of Water Soluble Film Based Matrix Patent

Arrow Coated Products (ACPL) has received a grant for patent titled ‘Water Soluble Film Based Matrix’ from US Patent Office. The rights under this patent are protected till 2027. The invention under this patent provides water soluble film based matrix for collecting and storing samples extracted from living species for avoiding cross infection or spillage of samples. The present invention also eliminates the problem of disposal of used containers. The principal end use is to collect pathological samples for labs, to analyze and verify the presence or absence of pathogens. Arrow Coated Products is pioneer in manufacturing Water Soluble Film by a unique method using detachable liners. The company’s RND department has many years experience in Coatings, Security Printing, and casting films since many years. It has a total of 30 Granted Patents in India, US, Europe, Eurasia, Africa, and Australia. It is also prosecuting several other patents in other countries.

CARE revises ratings of DSCL’s bank facilities

Credit rating agency, Credit Analysis & Research (CARE) has revised rating of Dharani Sugars and Chemicals’ (DSCL) long term bank facilities worth Rs 415.67 crore to ‘BB+’ from ‘BBB-’. The rating agency has also revised rating of company’s short term bank facilities worth Rs 208 crore to ‘A4+’ from ‘A3’. The revision in the ratings assigned to the bank facilities of DSCL take into account the pressure on the profitability of DSCL caused by stressed sugar prices, increase in cost and consequent deterioration on the financial risk profile of the company on account of losses during 9MFY14 & increase in borrowings. Dharani Sugars and Chemicals (DSCL) is engaged in the manufacture of sugar, industrial alcohol and co-generation of power. DSCL has three sugar mills located across Tamil Nadu. These units are located in Dharani Nagar (Tirunelveli Dist.), Sankarapuram (Vilupuram Dist.) and Polur (Thiruvannamalai Dist.).

RCom gains on entering into tripartite agreement with TTSL, Aircel

Reliance Communications is currently trading at Rs. 132.25, up by 0.40 points or 0.30% from its previous closing of Rs. 131.85 on the BSE. The scrip opened at Rs. 132.20 and has touched a high and low of Rs. 133.90 and Rs. 130.20 respectively. So far 4,76,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 91.45 on 29-Apr-2013. Last one week high and low of the scrip stood at Rs. 134.60 and Rs. 130.20 respectively. The current market cap of the company is Rs. 27,327.00 crore. The promoters holding in the company stood at 67.80% while Institutions and Non-Institutions held 20.82% and 11.11% respectively. Reliance Communications (RCom) has entered into a tripartite agreement with Tata Teleservices (TTSL) and Aircel to provide 3G roaming services to each others' customers using their network across country.  The company and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles. RCom circles comprise Delhi, Mumbai, Kolkata, Punjab, Rajasthan, Madhya Pradesh, West Bengal, Himachal Pradesh, Bihar, Orissa, Assam, North East, Jammu & Kashmir. With this agreement, company gets access to 5 uncommon service areas - Andhra Pradesh, Karnataka, Tamil Nadu, Kerala and UP East,  where Aircel has presence, while its agreement with TTSL gives it access to Maharashtra, Gujarat, Haryana and UP west. RCom is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.

Idea Cellular strengthens on reporting 91% rise in Q4 net profit

Idea Cellular is currently trading at Rs. 143.40, up by 2.65 points or 1.88% from its previous closing of Rs. 140.75 on the BSE. The scrip opened at Rs. 144.25 and has touched a high and low of Rs. 145.70 and Rs. 141.05 respectively. So far 618984 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 188.35 on 15-Oct-2013 and a 52 week low of Rs. 115.40 on 30-Apr-2013. Last one week high and low of the scrip stood at Rs. 145.70 and Rs. 137.25 respectively. The current market cap of the company is Rs. 47138.77 crore. The promoters holding in the company stood at 45.81%, while Institutions and Non-Institutions held 21.92% and 32.27% respectively. Idea Cellular has posted a rise of 98.43% in its net profit at Rs 504.34 crore for the quarter ended March 31, 2014 as compared to Rs 254.16 crore for the same quarter in the previous year. Total income of the company increased by 16.50% at Rs 6950.10 crore for quarter under review as compared to Rs 5965.46 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 91.37% rise in its net profit at Rs 589.77 crore for the quarter ended March 31, 2014 as compared to Rs 308.18 crore for the same quarter in the previous year. Total income of the company was up by 16.20% at Rs 7043.82 crore for quarter under review as compared to Rs 6061.38 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 106.45% in its net profit at Rs 1689.31 crore as compared to Rs 818.26 crore for the same period in the previous year. Total income of company improved by 18.52% at Rs 26179.47 crore for year under review as compared to Rs 22086.87 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 94.65% in its net profit at Rs 1967.82 crore as compared to Rs 1010.93 crore in FY13. Total income of company increased by 18.08% at Rs 26518.91 crore for year under review as compared to Rs 22457.65 crore for the period ended March 31, 2013.

Idea Cellular reports 91% rise in Q4 consolidated net profit

Idea Cellular has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 98.43% in its net profit at Rs 504.34 crore for the quarter ended March 31, 2014 as compared to Rs 254.16 crore for the same quarter in the previous year. Total income of the company increased by 16.50% at Rs 6950.10 crore for quarter under review as compared to Rs 5965.46 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 91.37% rise in its net profit at Rs 589.77 crore for the quarter ended March 31, 2014 as compared to Rs 308.18 crore for the same quarter in the previous year. Total income of the company was up by 16.20% at Rs 7043.82 crore for quarter under review as compared to Rs 6061.38 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 106.45% in its net profit at Rs 1689.31 crore as compared to Rs 818.26 crore for the same period in the previous year. Total income of company improved by 18.52% at Rs 26179.47 crore for year under review as compared to Rs 22086.87 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 94.65% in its net profit at Rs 1967.82 crore as compared to Rs 1010.93 crore in FY13. Total income of company increased by 18.08% at Rs 26518.91 crore for year under review as compared to Rs 22457.65 crore for the period ended March 31, 2013.

Cholamandalam Investment reports 6% rise in Q4 consolidated net profit

Cholamandalam Investment and Finance Company has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 5.80% in its net profit at Rs 90.73 crore for the quarter ended March 31, 2014 as compared to Rs 85.76 crore for the same quarter in the previous year. Total income from operations of the company has increased by 16.61% at Rs 838.96 crore for quarter under review, as compared to Rs 719.48 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 5.66% rise in its net profit at Rs 92.36 crore for the quarter ended March 31, 2014 as compared to Rs 87.41 crore for the same quarter in the previous year. Total income from operations of the company rose by 16.01% at Rs 844.03 crore for quarter under review as compared to Rs 723.82 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 18.74% in its net profit at Rs 364.01 crore as compared to Rs 306.55 crore for the same period in the previous year. Total income from operations of company has surged by 28.32% at Rs 3231.63 crore for year under review as compared to Rs 2518.38 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 19.61% in its net profit at Rs 368.28 crore as compared to Rs 307.91 crore for the same period in the previous year. Total income from operations of company has increased by 28.19% at Rs 3248.99 crore for year under review as compared to Rs 2534.61 crore for the period ended March 31, 2013.

IDFC MF declares dividend under Interval Fund - Series 4

IDFC (MF) has declared dividend under the regular plan- dividend option and direct plan-dividend option of IDFC Interval Fund - Series 4. The record date for dividend is May 02, 2014.

The quantum of dividend will be entire distributable surplus as on record date on the face value of Rs 10 per unit.

The objective of the Scheme is to generate returns from investments in Debt and Money Market instruments maturing on or before the opening of the immediately following Specified Transaction Period of the scheme.There is no assurance or guarantee that the objective of the scheme will be realized.

Chana futures trade down on NCDEX

Chana futures traded down on NCDEX due to good sowing progress in rabi season and thin trading activity owing to quality issues. Further, weak demand in spot market and higher supplies from the major producing belts too weighed on the commodity prices. The contract for May delivery was trading at Rs 3120.00, down by 0.19% or Rs 6.00 from its previous closing of Rs 3126.00. The open interest of the contract stood at 91430 lots. The contract for June delivery was trading at Rs 3181.00, down by 0.28% or Rs 9.00 from its previous closing of Rs 3190.00. The open interest of the contract stood at 67570 lots on NCDEX.

ONGC trades higher on the bourses

ONGC is currently trading at Rs. 322.60, up by 1.30 points or 0.40% from its previous closing of Rs. 321.30 on the BSE. The scrip opened at Rs. 322.00 and has touched a high and low of Rs. 323.45 and Rs. 319.60 respectively. So far 28804 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 353.00 on 28-Jun-2013 and a 52 week low of Rs. 234.40 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 332.00 and Rs. 319.25 respectively. The current market cap of the company is Rs. 275786.22 crore. The promoters holding in the company stood at 68.94%, while Institutions and Non-Institutions held 17.52% and 13.54% respectively. State-owned Oil and Natural Gas Corporation (ONGC) will take up additional development of its Vasai East Field in Arabian Sea at a total estimated capital cost of Rs 2476.82 crore. The project, scheduled to be completed by December 2018, will result in incremental Oil production of 1.83 Million Metric Tonnes (MMT) and incremental Gas production of 1.971 Billion Cubic Metres (BCM) by 2030. The company has received its board approval on March 24, 2014. This project will improve the Recovery factor of Vasai East field with infill wells towards north & south side of the field with two well platforms VSEB and VSEC and utilizing existing surface facilities at process platform of BPA and BCPA-2 with minor modifications. Meanwhile, the ONGC Board, in the same meeting also approved a second interim dividend of Rs 4.25 per equity share, i.e. 85% on the equity share of Rs 5 each for the financial year 2013-14. This is in addition to an interim dividend of hundred percent (i.e. Rs. 5 per equity share of Rs 5 each) on 8,555,490,120 shares declared and paid in December, 2013. The total payout on account of this 2nd Interim Dividend would be Rs 3636.08 crore. ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.

TCS trades higher on the bourses

Tata Consultancy Services (TCS) is currently trading at Rs. 2197.45, up by 6.20 points or 0.28% from its previous closing of Rs. 2191.25 on the BSE. The scrip opened at Rs. 2192.70 and has touched a high and low of Rs. 2205.60 and Rs. 2180.00 respectively. So far 22020 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2384.20 on 14-Jan-2014 and a 52 week low of Rs. 1364.00 on 30-Apr-2013. Last one week high and low of the scrip stood at Rs. 2248.95 and Rs. 2180.05 respectively. The current market cap of the company is Rs. 430773.25 crore. The promoters holding in the company stood at 73.90%, while Institutions and Non-Institutions held 21.47% and 4.64% respectively. Tata Consultancy Services, a leading IT services, consulting and business solutions organization, has been ranked number one for customer satisfaction in the largest European-wide survey of service provider performance. Conducted by Whitelane Research, the survey was held in 2013 to determine performance and levels of satisfaction in the industry. The annual research surveyed more than 1300 CXOs from Europe's leading companies by IT Spending, evaluating over 3,700 IT contracts held by the 22 leading providers across the continent. TCS topped the survey across Europe with an 80% general satisfaction rate, clocking 14% above the Industry average. The company was also ranked first in both Application and Infrastructure Services, with 81 percent of those surveyed in both categories expressing satisfaction with TCS' service levels. The study analyzed 9 KPIs (Key Performance Indicators) across the Industry, with TCS securing the first position on seven out of the nine including account management, proactivity, relationship improvement, achieved  cost savings, service delivery quality, speed and transformational success. Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

European Union bans Indian mangoes, four vegetables from May 1

With effect from May 1, the 28-member European Union has decided to temporarily ban the import of Alphonso mangoes and four vegetables from India, raising protests from the Indian community, lawmakers and traders. The temporary ban, proposed by the European Commission, includes mangoes, eggplant, the taro plant, bitter gourd and snake gourd. This step has been taken after 207 consignments of fruits and vegetables from India imported into the EU in 2013 were found to be contaminated by pests such as fruit flies and other quarantine pests. The ban prohibits the import to tackle the significant shortcomings in the phytosanitary certification system of such products exported to the EU. A revision of the ban will take place before December 31, 2015. Though, the prohibited commodities represent less than 5% of the total fresh fruits and vegetables imported into the EU from India, the potential introduction of new pests could pose a threat to EU agriculture and production. UK’s Defra (the Department for Environment, Food and Rural Affairs) that is backing the ban stated that it was necessary due to pests which could threaten the country’s 321 million pound salad crop industry of tomato and cucumber.

Cardamom futures trade lower on profit booking

Cardamom futures traded lower on MCX as speculators booked profits at prevailing higher levels due to sluggish demand in the spot market. Further, ample stocks availability in the physical market on higher supplies from the major producing regions too influenced the commodity prices. The contract for May delivery was trading at Rs 982.40/Kg, down by 0.52% or Rs 5.10 from its previous closing of Rs 987.50/Kg. The open interest of the contract stood at 2189 lots. The contract for June delivery was trading at Rs 1012.60/Kg, down by 0.42% or Rs 4.30 from its previous closing of Rs 1016.90/Kg. The open interest of the contract stood at 1795 lots on MCX.

Strides Arcolab gains as Macquarie Bank acquires stake in company

Strides Arcolab is currently trading at Rs. 551.95, up by 7.50 points or 1.38% from its previous closing of Rs. 544.45 on the BSE. The scrip opened at Rs. 549.10 and has touched a high and low of Rs. 567.85 and Rs. 549.10 respectively. So far 109302 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 05-Dec-2013 and a 52 week low of Rs. 343.80 on 26-Feb-2014. Last one week high and low of the scrip stood at Rs. 559.20 and Rs. 451.00 respectively. The current market cap of the company is Rs. 3296.96 crore. The promoters holding in the company stood at 27.67%, while Institutions and Non-Institutions held 51.95% and 20.38% respectively. Macquarie Bank has purchased 5 lakh shares of Strides Arcolab through an open market transaction. The shares were purchased at an average price of Rs 548 a piece on National Stock Exchange (NSE) on April 28, 2014. On the other hand, Janus Overseas Fund has sold 5.12 lakh shares of the company at Rs 545.67 a piece on NSE. Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.

Asian Paints rises on plan to increase industrial paints’ prices by 4% in May

Asian Paints is currently trading at Rs. 504.25, up by 3.25 points or 0.65% from its previous closing of Rs. 501.00 on the BSE. The scrip opened at Rs. 501.00 and has touched a high and low of Rs. 504.40 and Rs. 497.45 respectively. So far 22590 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 560.00 on 08-Nov-2013 and a 52 week low of Rs. 376.35 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 542.00 and Rs. 499.10 respectively. The current market cap of the company is Rs. 48103.77 crore. The promoters holding in the company stood at 52.79% while Institutions and Non-Institutions held 27.33% and 19.88% respectively. Asian paints is planning to increase industrial paints’ prices by 4% in May. The move came in to offset inflationary pressure on industrial products. Earlier in march, the company hiked industrial paints’ prices by 4%. Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

Nickel futures gain on global cues

Nickel futures gained on MCX as speculators engaged in enlarging positions after the metal climbed to 14-month high at the London Metal Exchange on concern that supplies from Russia may be disrupted amid mounting tensions over Ukraine. Further, increased demand in spot markets from domestic alloy-makers too supported the upside. The contract for April delivery was trading at Rs 1102.80, up by 0.38% or Rs 4.20 from its previous closing of Rs 1098.60. The open interest of the contract stood at 6252.00 lots. The contract for May delivery was trading at Rs 1108.20, up by 0.30% or Rs 3.30 from its previous closing of Rs 1104.90. The open interest of the contract stood at 5016.00 lots on MCX.

SKS Microfinance registers 41% increase in portfolio outstanding in Q4-FY14

SKS Microfinance has reported a 41% year-on-year increase in the non-Andhra Pradesh portfolio to Rs. 2,837 crore in Q4-FY14 from Rs. 2,016 crore in Q4-FY13 (Rs. 2,364 crore in Q3-FY14).  The company has also registered a 27% increase in PAT to Rs. 27.1 crore in Q4-FY14 from Rs. 21.4 crore in Q3-FY14. This is the Company’s sixth consecutive quarter of profit post its turnaround in Q3-FY13. Loan disbursements grew to Rs. 1,580 crore in Q4-FY14 from Rs. 1,399 crore in Q3-FY14 (Rs.1,295 crore in Q4-FY13). The Company had incremental draw-downs of Rs.1,713 crore in Q4-FY14. The company had a net worth of Rs. 459 crore and capital adequacy of 27.2% (20.7% without taking RBI dispensation on provision for the Andhra Pradesh portfolio) as of March 31, 2014. Cash and bank balances stood at Rs. 671 crore. SKS Microfinance (SKS) is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.

Asian Paints to increase industrial paints’ prices by 4% in May

Asian paints is planning to increase industrial paints’ prices by 4% in May. The move came in to offset inflationary pressure on industrial products. Earlier in march, the company hiked industrial paints’ prices by 4%. Asian Paints is India’s largest paint company and Asia’s third largest paint company. The company along with its subsidiaries has operations in 20 countries across the world and 28 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans.

Usher Agro shines on commencing commercial production at rice milling facilities in UP

Usher Agro is currently trading at Rs. 41.70, up by 1.25 points or 3.09% from its previous closing of Rs. 40.45 on the BSE. The scrip opened at Rs. 41.95 and has touched a high and low of Rs. 42.90 and Rs. 41.70 respectively. So far 44581 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 49.65 on 08-Jan-2014 and a 52 week low of Rs. 24.30 on 30-Oct-2013. Last one week high and low of the scrip stood at Rs. 40.80 and Rs. 37.20 respectively. The current market cap of the company is Rs. 160.80 crore. The promoters holding in the company stood at 32.25% while Institutions and Non-Institutions held 12.71% and 55.04% respectively. Usher Agro has commenced commercial production of its new rice milling facilities located at Chhata, Mathura district in state of Uttar Pradesh as part of the company’s on-going capacity expansion project. The trial runs of the said facilities are completed successfully and now commercial production has been started with effect from April 28, 2014. After successful commissioning of the above project the company has forwarded another step to emerge as complete basic food processor. Usher Agro is extensively into producing fine & superfine Wheat flour (Maida), Samolina premium (Rawa/Suji), R-Aata, Whole meal Aata (Chakki Aata), and Bran (choker). These wheat products are also plugged under the well-known brand ‘Rasoi Raaja’.

Crompton Greaves receives National Intellectual Property Award, 2014

Crompton Greaves (CG) was awarded the National Intellectual Property (IP) Award, 2014, in the category of ‘Top Organisation in Designs’.  The award was presented on April 26th 2014, World IP Day, jointly organised by the Indian Intellectual Property Office and Confederation of Indian Industry (CII). CG was chosen for this award among 27 other contenders filing design applications in India. The company was awarded for its overall Design Portfolio developed and commercialised over the past five years for products manufactured in India and other geographies. On an average, CG files and registers approximately 147 designs every year, of which approximately 100 are commercialised. This award is presented to innovators of IP who play a role in harnessing India’s intellectual capital and create an ecosystem that gives a fillip to innovation and creativity. The winner was selected not only based on the number of Intellectual Property Rights registered or granted, but on the basis of the utilisation of the IP Rights (IPR) as a strategic tool in commerce and industry and their overall contribution to the society. Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.

Asian markets exhibit mixed trend in early deals on Tuesday

Asian stock markets are exhibiting mixed trade in early deals on Tuesday, after Wall Street notched up a late rally. The investors treading cautiously have chosen to wait for the outcome of the US Federal Reserve's two-day policy meeting that begins on Tuesday. Lingering concerns about the situation in Ukraine are also weighing on the markets to an extent. Chinese Shanghai Composite rose for the first time in five days after Ping An Insurance Co. posted a jump in profit and a gauge of small-company shares halted a six-day slide. Among other markets in the Asia-Pacific region, Taiwan, Hong Kong, Malaysia and Shanghai are trading higher, while Singapore and South Korea are down with modest losses. Indonesia is down marginally. Shanghai Composite gained 3.30 points or 0.16% to 2,006.78, Hang Seng increased by 86.80 points or 0.39% to 22,219.33, KLSE Composite was up by 1.29 points or 0.07% to 1,857.03 and Taiwan Weighted was up by 50.70 points or 0.58% to 8,860.41. On the flip side, Jakarta Composite dropped by 6.46 points or 0.13% to 4,812.30, Straits Times slipped 11.71 points or 0.36% to 3,231.00 and Seoul Composite was down by 4.95 points or 0.25% to 1,964.31. Japanese markets remained shut for the trade today for Showa Day holiday.

State Bank of India inks MOU with Enable India

State Bank of India (SBI), country’s largest public sector lender has signed the Memorandum of Understanding (MoU) with Enable India, a non-profit organisation to assist people with different disabilities through training. As per the MoU, SBI will provide training to physically challenged persons selected by Enable India to be financially independent. SBI will utilise RSETIs (rural self employment training institutes) infrastructure to achieve a common goal of enabling the well-being of most deserving section of the society. The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.

Bajaj Auto’s workmen’s union defers stoppage of work at Chakan plant

Bajaj Auto has received a notice dated April 27, 2014 from the workmen’s union of its Chakan plant viz., Vishwa Kalyan Kamgar Sanghatana stating that the stoppage of work in the Chakan plant of the company has been postponed to May 15, 2014. The company had earlier received a notice dated April 14, 2014 from the workmen’s union of its Chakan plant stating that they proposed to call for a stoppage of work by all the workmen employed in Chakan plant from the morning shift of April 28, 2014 as per notice. Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.

Jet Airways flies high in early deals

Jet Airways (India) is currently trading at Rs. 277.15, up by 3.35 points or 1.22 % from its previous closing of Rs. 273.80 on the BSE. The scrip opened at Rs. 272.00 and has touched a high and low of Rs. 279.00 and Rs. 270.45 respectively. So far 112059 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 627.40 on 30-Apr-2013 and a 52 week low of Rs. 210.25 on 05-Feb-2014. Last one week high and low of the scrip stood at Rs. 298.00 and Rs. 269.15 respectively. The current market cap of the company is Rs. 3157.44 crore. The promoters holding in the company stood at 51.00 % while Institutions and Non-Institutions held 9.09 % and 39.91 % respectively. Jet Airways, India's premier international airline, has launched its all new self check-in service on mobile devices. With a host of new and enhanced features such as unique system recognizing check-in members, interactive seat map, convenient check-in for code-share and interline flights, guests can now avail of these conveniences by seamlessly checking-in on its sites. Alternately guests may use the Jet Airways Mobile App on Android, iOS, Windows Phone and BlackBerry 10. The new check-in system operates on a unique platform that intelligently identifies a Jet Airways or JetKonnect booking reference (PNR) issued by the airline itself or a travel agent. In addition, the system has been enhanced to check-in guests travelling with a child or infant as well as groups booked on a single PNR. It also provides guests the convenience to check-in for code-share and interline flights. Moreover guests will have the option to update their frequent flyer number, as also meal preference applicable only on full service flights. Similarly, the service offers interactive seat map with an additional feature which displays emergency exit seats, companion seats and non-reclining seats during the check-in process. Jet Airways currently operates a fleet of 112 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 72 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.

SC may pass interim order for halting illegal mining activities in Odisha

Just days after partially lifting the Goa mining ban, the Supreme Court (SC) has indicated that it will pass an interim order on a plea for halting illegal mining activities in Odisha and the priority before it would be to stop 40 out of 56 iron ore mines operating under “deemed-renewed leases.” A green bench headed by Justice AK Patnaik, though ruled out the possibility of a blanket ban on mining and limited its potential directive to 40 iron ore mine lease, which have been identified as operating under the provision of ‘deemed renewed’ leases after expiry of their lease period, by apex court-appointed Central Empowered Committee (CEC). The order by the bench, also comprising justices SS Nijjar and FMI Kali-fulla, was reserved after scrutinizing the interim report submitted by the CEC that spelt out the status of leases and approvals of miners in Odisha. The interim report underscored huge number of mining leases in the state that had been operational long after the expiry of the lease period. The 40 such leases included those of Tata Steel, Steel Authority of India (SAIL) and Jindal Steel and Power, operating under the deemed approved norms. CEC pointed that in total there were 187 iron ore and manganese mines in Odisha, out of which 56 were functional, while as many as 131 mining leases did not have required statutory approvals or lapsed leases that were not operational. It further highlighted that of the 131 mines, 102 were sans forest clearances or environmental clearances and were hence suspended and classified as ‘non-working leases’, while of working 56 iron ore mines, only 16 had lease deeds executed in their favour and the rest 40 leases expired and were operating as ‘deemed approved’. The apex court-appointed committee also elucidated that Odisha government, on this issue, said that renewal application of miners were under 'various stages of examination' and in some cases 'in-principle' decision to grant renewal had been taken but follow up actions were under process.

Sesa Sterlite commissions eco-friendly bio-gas unit in Odisha

Sesa Sterlite has commissioned eco-friendly bio-gas unit in its alumina refinery complex at Lanjigarh in Kalahandi district of Odisha. The company has invested Rs 60 lakh for the same. With a capacity to process three tonnes of waste materials daily, the plant, established under the company's health, safety and environment (HSE) department, is claimed as the biggest bio-gas unit in the district and has started full operation from April 27, 2014. The plant was on a trial run for the past three months and was found to be functioning effectively. Sesa Sterlite is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.

Jet Airways launches all new self check-in service for guests on web and mobile devices

Jet Airways, India's premier international airline, has launched its all new self check-in service on mobile devices. With a host of new and enhanced features such as unique system recognizing check-in members, interactive seat map, convenient check-in for code-share and interline flights, guests can now avail of these conveniences by seamlessly checking-in on its sites. Alternately guests may use the Jet Airways Mobile App on Android, iOS, Windows Phone and BlackBerry 10. The new check-in system operates on a unique platform that intelligently identifies a Jet Airways or JetKonnect booking reference (PNR) issued by the airline itself or a travel agent. In addition, the system has been enhanced to check-in guests travelling with a child or infant as well as groups booked on a single PNR. It also provides guests the convenience to check-in for code-share and interline flights. Moreover guests will have the option to update their frequent flyer number, as also meal preference applicable only on full service flights. Similarly, the service offers interactive seat map with an additional feature which displays emergency exit seats, companion seats and non-reclining seats during the check-in process. Jet Airways currently operates a fleet of 112 aircraft, which include 10 Boeing 777-300 ER aircraft, 8 Airbus A330-200 aircraft, 4 Airbus A330-300 aircraft, 72 next generations Boeing 737-700/800/900/900 ER aircraft and 15 ATR 72-500 and 3 ATR72-600.

ICRA assigns ratings to debt borrowing programme of Kothari Petrochemicals

Credit rating agency, ICRA has assigned ratings to the debt borrowing programme of Line of Credit of Kothari Petrochemicals. The agency has assigned ‘BBB+’ on long-term scale of the company. The outlook on the long-term rating has been revised to stable from negative. The credit rating agency has also assigned ‘A2’ rating on short-term scale of the company. The said ratings are valid till January 31, 2015. Kothari Petrochemicals is a part of the renowned HC Kothari Group, the largest producer of premium quality Polybutene in India. KVIS is the trade name of polybutene produced by Kothari Petrochemicals.

REC to raise Rs 30,000 crore through issue of debentures

Rural Electrification Corporation (REC) is planning to raise Rs 30,000 crore during the current financial year through issue of debentures. In this regard, the company has already received its board’s approval for the issuance of Non-Convertible Debentures up to Rs 30,000 crore through private placement during the current fiscal 2014-15. The company had targeted to raise Rs 30,000 crore last fiscal, 2013-14. Of that, it raised close to Rs 27,000 crore till December including via Rs 4,500 crore tax-free bond issue. The funds raised through the bond issue are meant for general lending operations of the company and other associated business objectives besides repaying existing loans. REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.