Rolta India trades jubilantly on the bourses

Rolta India is currently trading at Rs. 81.20, up by 6.15 points or 8.19% from its previous closing of Rs. 75.05 on the BSE. The scrip opened at Rs. 75.50 and has touched a high and low of Rs. 84.40 and Rs. 75.25 respectively. So far 679899 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 84.40 on 20-May-2014 and a 52 week low of Rs. 50.00 on 12-Jun-2013. Last one week high and low of the scrip stood at Rs. 84.40 and Rs. 73.65 respectively. The current market cap of the company is Rs. 1323.71 crore. The promoters holding in the company stood at 50.54% while Institutions and Non-Institutions held 19.26% and 29.19% respectively. Credit rating agency, CARE has reaffirmed ‘A’ rating to Rolta India’s long term bank facilities worth Rs 2,546.30 crore. The rating agency has also reaffirmed ‘A1’ rating to Rs 368.75 crore short term bank facilities of the company. The reaffirmation of ratings assigned to bank facilities of the company factors in successful integration of AT Solutions Group which supplements company’s established track in providing solutions in niche Information Technology (IT) segment, higher contribution of Intellectual Property (IP) led business and healthy order book position providing medium to long-term revenue visibility. Rolta India conducts business in India, and internationally through subsidiaries in various countries. Rolta is a leading provider of innovative IT solutions built around its intellectual property for many vertical segments, including Federal and State Governments, Defence, Homeland Security, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare.

HCL Technologies bags $500 million deal from Pepsico: Report

HCL Technologies has reportedly secured $500 million IT outsourcing order from beverage giant PepsiCo. The fourth-largest Indian IT services firm beat HP to bag the seven-year IT deal. Recently, the company won a global contract from pharmaceuticals major Novartis to provide infrastructure management services.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. HCL leverages its extensive global offshore infrastructure and network of offices in 31countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare & Life sciences.

Nickel futures decline on lower demand

Nickel futures declined on MCX as speculators indulged in offloading positions following lower demand from alloy-makers and other consuming industries in the domestic spot markets. Further, a weakening trend in the global markets amid speculation that the rally in prices this year may curb demand for the metal too supported the downside. The contract for May delivery was trading at Rs 1163.60, down by 1.66% or Rs 19.70 from its previous closing of Rs 1183.30. The open interest of the contract stood at 10328.00 lots. The contract for June delivery was trading at Rs 1169.00, down by 1.62% or Rs 19.30 from its previous closing of Rs 1188.30. The open interest of the contract stood at 1435.00 lots on MCX.

Call rates edge higher on demand; yet stay below the repo level

Interbank call rates were trading higher at 8.00/8.05% versus its Monday's close of 7.20/7.30%, as demand remained higher at the start of fresh reporting cycle. Nevertheless, comfortable liquidity condition of banking system, which is reflected by the amount they have parked via reverse repo window, kept the call rates below the repo level. The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 14480 crore through repo auction on May 20, 2014, while it borrowed Rs 20161 crore through three days repo auction and parked Rs 8245 crore on May 19 via three days reverse repo auction. The overnight borrowing rates touched a high and low of 8.15% and 7.95% respectively. According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.06% on Tuesday and total volume stood at Rs 23063.08 crore, so far. As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.02% on Tuesday and total volume stood at Rs 28400.00 crore, so far. The indicative call rates which closed 7.20/7.30% on Monday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.

JSW Steel buys its maiden lot of iron ore fines from Goa’s e-auction

In a bid to maintain continuous supply of ore, JSW Steel has bought its maiden lot of iron ore fines from Goa at a price of Rs 1,830 per tonne. This is important from the company’s point of view as it is the first time that a major domestic steel maker has participated in an e-auction of Goan ore, which is considered low grade and usually earmarked for exports. In contrast, Goa’s first e-auction of iron ore following the mining ban in September 2012, surprisingly saw zero participation from big steel companies in February this year even as exporters and mine owners bid for the commodity aggressively. It got a fairly good deal since the fines had a 58.5% iron (Fe) content. The company has also purchased another lot of 3,000 tonnes of fines of 59.5% Fe content at a price of Rs 1,970 per tonne. JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

Benchmarks continue to trade near neutral line

Indian equity benchmarks paired all gains and were trading near the neutral line with negative bias in afternoon session owing to profit booking by funds and retail investors amid weak Asian cues. Though, most of the sectoral indices were trading in green, sharp selling witnessed in oil & gas, banking and capital goods stocks dragged the market lower. However, markets losses remain capped as investors were piling positions in defensive sectors' stocks such as IT, teck and healthcare stocks. Sentiments got support after credit rating agency Moody’s highlighted that the BJP-led NDA’s victory in polls is credit positive for India as a stable Central Government is expected to address economic woes. Realty index was top gainer on BSE up by 3.97% amid expectations of change in policy environment. The broader markets were outperforming the benchmarks with quiet a margin and both mid and small cap indices were trading up by around 1.40% and 1.87%. Whirlpool of India has surged around 5.4% to Rs 273 after reporting 44% yoy increase in net profit at Rs 35.55 crore for Q4FY14 on account of higher other income. Wipro has jumped by 1.8% at around Rs 492 after the company announced a strategic partnership with Takeda Pharmaceutical Company, the largest pharmaceutical company in Japan. On the other hand, Jubilant FoodWorks was trading lower by 1.6% at Rs 1,171 after reporting a 23.7% yoy decline in net profit at Rs 24.95 crore for Q4FY14 due to higher raw material and employee cost. On global front, major Asian equity indices were trading in green with Hang Seng up by 0.62% and Straits Times up by 0.07%. Back home, the NSE Nifty and BSE Sensex were trading above their psychological 7,200 and 24,300 levels respectively. The market breadth on BSE was negative, out of 2,663 stocks traded, 1,897 stocks advanced, while 759 stocks declined on the BSE. The BSE Sensex is currently trading at 24,353.70 down by 9.35 points or 0.04% after trading in a range of 24,587.16 and 24,299.53. There were 17 stocks advancing against 13 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 1.40%, while Small cap index up by 1.87%. The gaining sectoral indices on the BSE were Realty up by 3.97%, Consumer Durables up by 2.56%, IT up by 1.69%, Teck up by 1.63% and Healthcare up by 1.07%. On the flip side, Oil and Gas down by 2.43%, Bankex down by 0.49%, Capital Goods down by 0.30% and Auto down by 0.23% were the losing indices on BSE.    The top gainers on the Sensex were SSLT up by 3.21%, Tata Steel up by 3.06%, HDFC up by 2.25%, Infosys up by 2.24% and Wipro up by 2.18%. On the flip side, Coal India down by 5.04%, ONGC down by 2.90%, RIL down by 2.89%, Hero Motocorp down by 2.87% and SBI down by 1.74%. Meanwhile, industry body FICCI has highlighted low inflation and a positive business environment as the top supportive factors for India to get back to high growth path. The FICCI‘s president Sidharth Birla has said that country needs to create investor confidence by revitalizing domestic investors and strengthening governance, policy certainty and capital friendliness. Sidharth Birla further asserted that India also needs to implement GST by 2015 and revisit subsidies and revamp the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA). Industry body also recommended measures to improve the tax environment in the country include resolve retrospective/ capital raising tax-related issues and rebate income tax for small start-up businesses. Regarding the land acquisition issue, the FICCI highlighted the need for a comprehensive review of the Land Acquisition Act urgently. At present, Indian economy is struggling with slowdown and its growth slowed down to a decade low at 4.5 percent in FY13 and 4.6 percent during the first three quarter of FY14. High inflation, unfavorable tax environment and land procurement and environment clearances issues have been impacting the business sentiments in the country. Prevailing high inflation has impacted the purchasing power of consumer, whereas land and environment clearance issues have stalled the development of big infrastructure projects. The CNX Nifty is currently trading at 7,261.35 down by 2.20 points or 0.03% after trading in a range of 7,353.65 and 7,247.70. There were 27 stocks advancing against 23 declining on the index. The top gainers of the Nifty were Tata Steel up by 3.34%, SSLT up by 3.01%, Lupin up by 2.82%, NMDC up by 2.66% and Infosys up by 2.66%. On the flip side, Coal India down by 5.19%, Hero Motocorp down by 3.24%, ONGC down by 3.05%, PNB down by 2.95% and Reliance down by 2.91% were the major losers on the index. Asian equity indices were trading in green; Hang Seng up by 0.62% to 22,853.42, Straits Times up by 0.07% to 3,264.43, Shanghai Composite up by 0.20% to 2,009.15 and Nikkei 225 up by 0.63% to 14,093.14. While, Jakarta Index down by 2.21% to 4,904.15 and Taiwan Weighted down by 0.14% to 8,887.79

Dynamatic Technologies gains on inking agreement for sale of additional non-core assets for Rs 70 crore

Dynamatic Technologies is currently trading at Rs. 902.00, up by 9.50 points or 1.06% from its previous closing of Rs. 892.50 on the BSE. The scrip opened at Rs. 919.00 and has touched a high and low of Rs. 937.00 and Rs. 901.00 respectively. So far 305 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 952.70 on 28-Mar-2014 and a 52 week low of Rs. 465.00 on 27-Aug-2013. Last one week high and low of the scrip stood at Rs. 892.50 and Rs. 807.00 respectively. The current market cap of the company is Rs. 499.71 crore. The promoters holding in the company stood at 55.99% while Institutions and Non-Institutions held 20.05% and 23.96% respectively. Dynamatic Technologies has signed an agreement for sale of additional non-core assets for Rs 70 crore. This sale of non-core assets is part of the company’s initiatives to reduce its overall debt thereby improving its Balance Sheet. Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.

Rupee snaps four consecutive sessions’ appreciating streak; cools off from eleven-month high level

Indian rupee, snapping four consecutive sessions’ appreciating streak and cooling off from eleven-month high level, depreciated on Tuesday tailing the slide of local equities. Indian rupee after getting off to a weak start, was trading off the multi-month high level scaled in previous trading session on speculated RBI’s intervention, which would have brought dollars via state run banks to shore up its forex reserves, while dollar demand from some oil marketing companies also cannot be ruled out completely. Nevertheless, dollar’s weakness overseas limited further depreciation of Indian currency. On the global front, yen strengthened close to four month high against the dollar and the euro on Tuesday, supported by diminishing expectations of stimulus by the Bank of Japan as well as falling U.S. and European bond yields.

The partially convertible currency is currently trading at 58.74, weaker by 15 paise from its previous close of 58.59 on Monday. The currency touched a high and low of 57.86 and 58.51 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 58.42 and for Euro stood at 80.11 on May 19, 2014. While, the RBI’s reference rate for the Yen stood at 57.67, the reference rate for the Great Britain Pound (GBP) stood at 98.2842. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Soyabean futures display mixed trend on NCDEX

Soyabean futures showed a mixed trend on NCDEX. The May contracts declined on ample stocks availability in the physical market on account of higher supply from the major producing belts, while June contracts rose on the expectations of increase in demand in the spot market. The contract for May delivery was trading at Rs 4320.00, down by 4.00% or Rs 180.00 from its previous closing of Rs 4500.00. The open interest of the contract stood at 120 lots. The contract for June delivery was trading at Rs 4466.00, up by 0.27% or Rs 12.00 from its previous closing of Rs 4454.00. The open interest of the contract stood at 120500 lots on NCDEX.

Adani Ports surges on the buzz of setting up container terminal at Dhamra port

Adani Ports and Special Economic Zone is currently trading at Rs. 237.00, up by 5.35 points or 2.31% from its previous closing of Rs. 231.65 on the BSE. The scrip opened at Rs. 233.00 and has touched a high and low of Rs. 244.50 and Rs. 231.85 respectively. So far 752616 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 244.50 on 20-May-2014 and a 52 week low of Rs. 118.00 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 244.50 and Rs. 210.00 respectively. The current market cap of the company is Rs. 48884.27 crore. The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.71% and 4.29% respectively. Adani Ports & Special Economic Zone is reportedly planning to increase capacity at Dhamra port on the east coast, including building a container terminal there in two-three years. On May 16, Adani Ports said it was acquiring 100% stake in the Dhamra Port Company (DPCL) at an enterprise value of Rs 5500 crore in an all-cash deal. Moreover, the company wanted to add 12 berths at Dhamra, one of which could be a container terminal. The port has two bulk handling berths, with an installed capacity of 24 million tonnes. Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.

Potato futures extend losses on fresh arrivals

Potato futures extended their losses on MCX as a result of easy availability in the physical markets following fresh arrivals from producing regions in UP, Punjab, MP and West Bengal. Sentiment weakened further as traders offloaded their positions due to less demand of the agri commodity in the domestic markets due to excess stocks. The contract for May delivery was trading at Rs 1304.00, down by 0.05% or Rs 0.70 from its previous closing of Rs 1304.70. The open interest of the contract stood at 338.00 lots. The contract for June delivery was trading at Rs 1344.00, down by 0.72% or Rs 9.80 from its previous closing of Rs 1353.80. The open interest of the contract stood at 1630.00 lots on MCX.

Gold futures rise on MCX

Gold futures traded up on MCX as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a weaker dollar boosted the appeal of the bullion as an alternative asset.

The contract for June delivery was trading at Rs 28220.00,up by 0.27% or Rs 76.00 from its previous closing of Rs 28144.00. The open interest of the contract stood at 10924.00 lots.

The contract for August delivery was trading at Rs 28220.00, up by 0.27% or Rs 76.00 from its previous closing of Rs 28144.00. The open interest of the contract stood at 10924.00 lots on MCX.

Kitex Garments inches up on plan to invest Rs 125 crore for expansion

Kitex Garments is currently trading at Rs. 214.50, up by 0.40 points or 0.19% from its previous closing of Rs. 214.10 on the BSE. The scrip opened at Rs. 215.00 and has touched a high and low of Rs. 226.40 and Rs. 206.00 respectively. So far 66646 shares were traded on the counter. The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 214.85 on 19-May-2014 and a 52 week low of Rs. 52.20 on 03-Jul-2013. Last one week high and low of the scrip stood at Rs. 214.85 and Rs. 131.00 respectively. The current market cap of the company is Rs. 1019.83 crore. The promoters holding in the company stood at 54.24% while Non-Institutions 45.76%. Kitex Garments is planning to invest Rs 125 crore this fiscal in order to enhance production capacity and to upgrade technology. The 100 per cent EoU has a production capacity of 5.5 lakh pieces per day at its unit in Kizhakkambalam in Ernakulam district. This will be increased to 1.1 million pieces by 2015-16. The company is also planning to introduce robotic technology to meet the labour shortage. Kitex Garments is the third largest manufacturer of clothes for infants and caters to the biggest international buyers such as Gerber, Jockey, Carters, Kohls and The Childrens Place.

BJP elects Narendra Modi as leader

Modi has come to the Parliament for the first time, says Rajnath Singh.

BJP leader LK Advani has proposed Narendra Modi as BJP Parliament leader. BJP president Rajnath Singh said that this is a historic and proud moment for the BJP.Modi has come to the Parliament for the first time, says Rajnath Singh. Narendra Modi will call on President Pranab Mukherjee to stake claim to form the next government. BJP Leaders, CM's greet Narendra Modi on being elected Party chief.

Copper futures extend gains on improved demand from China

Copper futures traded up on MCX as investors and speculators booked fresh positions in the industrial metal as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals, given that China is the world’s biggest metals consumer. The contract for June delivery was trading at Rs 414.05,up by 0.49% or Rs 2.00 from its previous closing of Rs 412.05. The open interest of the contract stood at 15935.00 lots. The contract for August delivery was trading at Rs 416.40, up by 0.51% or Rs 2.10 from its previous closing of Rs 414.30. The open interest of the contract stood at 853.00 lots on MCX.

Crude palm oil futures trade higher on MCX

Crude palm oil futures edged marginally higher on MCX as speculators created fresh positions driven by pick-up in demand in spot markets. Further, gains in overseas palm oil markets due to higher exports too supported crude palm oil prices uptrend. The contract for May delivery was trading at Rs 538.00, up by 0.04% or Rs 0.20 from its previous closing of Rs 537.80. The open interest of the contract stood at 2051 lots. The contract for June delivery was trading at Rs 534.50, up by 0.09% or Rs 0.50 from its previous closing of Rs 534.00. The open interest of the contract stood at 3200 lots on MCX.

M3M ties up with Daikin for Rs 50 crore deals

The company has announced an investment deal of Rs 50 crore with the one of the largest manufacturers of air conditioner

India’s leading real estate developer M3M India has announced a tie-up with electronics conglomerate Daikin for its iconic luxury projects M3M Golf Estate and M3M Merlin. The company has announced an investment deal of Rs 50 crore with the one of the largest manufacturers of air conditioner to provide company 13000 tonnes of the world’s finest A/Cs for M3M Golf Estate - Fairway West and M3M Merlin at Golf Course Extension Road, Gurgaon. Luxury is not the façade but the quality of everything that goes into making it. That is the belief of M3M India, and through these tie-ups the company wants to provide the best of all worlds in the home that it makes for its buyers. Commenting on the tie-up, Pankaj Bansal, Director, M3M India, said “Our association with Daikin is yet another instance where we translate our definition of luxury into a reality. Our customer’s comfort is of paramount importance to us that is why we never compromise on the quality & brand of products we install in our projects. We will always go the extra mile to satisfy our valuable customers.” M3M Golf Estate is located on Sector-65, Golf Course Extension Road with matchless 3, 4 BHK apartments and penthouses, in a 75 acre complex with its own 9 hole executive golf course meant for the elite of Society. M3M Merlin, on sector- 67, is built with inspiration from Singapore and is replete with large green landscapes, wide terraces and a boutique club house offers best in class amenities.

Birla Sun Life declares dividend under Advantage Fund

Birla Sun Life (MF) has declared dividend under the Birla Sun Life Advantage Fund-Regular Plan-Dividend Option & Direct Plan-Dividend Option.

The record date for dividend is May 23, 2014.The amount of dividend will be Rs 7.20 per units.

Barley futures rule flat on NCDEX

Barley futures ruled flat in the near term contracts, while June contracts traded lower on the account of subdued demand from beer and cattle-feed making industries against adequate stocks position in the physical market. The contract for May delivery was trading flat at its previous close of Rs 1280.00/ Quintal. The open interest of the contract stood at 390.00 lots on NCDEX. The contract for June delivery was trading at Rs 1297.00/ Quintal, down by 0.77% or Rs 10.00 from its previous closing of Rs 1307.00. The open interest of the contract stood at 15410.00 lots.

Cotton futures edge higher on good demand

Cotton futures traded up on MCX due to good demand from local millers and yarn exporters amid thin domestic supply. Further, aggressive buying by yarn makers to meet overseas demand that could consume supplies of the new crop mainly influenced the prices.

The contract for May delivery was trading at Rs 19780.00, up by 0.30% or Rs 60.00 from its previous closing of Rs 19720.00. The open interest of the contract stood at 3715.00 lots.

The contract for June delivery was trading at Rs 20060.00, up by 0.40% or Rs 80.00 from its previous closing of Rs 19980.00. The open interest of the contract stood at 4229.00 lots on MCX.

Chana futures edge down on sluggish demand

Chana futures traded down on NCDEX on account of sluggish demand in the spot market against increased supplies from the major producing belts. Further, expectations of higher output from the major producing belts too influenced chana prices.

The contract for May delivery was trading at Rs 2887.00, down by 1.27% or Rs 37.00 from its previous closing of Rs 2924.00. The open interest of the contract stood at 760 lots.

The contract for June delivery was trading at Rs 2933.00, down by 1.51% or Rs 45.00 from its previous closing of Rs 2978.00. The open interest of the contract stood at 153010 lots on NCDEX.

Adani Ports to set up container terminal at Dhamra port: Report

Adani Ports & Special Economic Zone is reportedly planning to increase capacity at Dhamra port on the east coast, including building a container terminal there in two-three years. On May 16, Adani Ports said it was acquiring 100% stake in the Dhamra Port Company (DPCL) at an enterprise value of Rs 5500 crore in an all-cash deal. Moreover, the company wanted to add 12 berths at Dhamra, one of which could be a container terminal. The port has two bulk handling berths, with an installed capacity of 24 million tonnes. Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player.

Adhunik Metaliks trades jubilantly on the bourses

Adhunik Metaliks is currently trading at Rs. 51.85, up by 1.80 points or 3.60% from its previous closing of Rs. 50.05 on the BSE. The scrip opened at Rs. 52.55 and has touched a high and low of Rs. 53.60 and Rs. 51.45 respectively. So far 90948 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 53.60 on 20-May-2014 and a 52 week low of Rs. 18.70 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 53.60 and Rs. 44.00 respectively. The current market cap of the company is Rs. 640.96 crore. The promoters holding in the company stood at 64.71% while Institutions and Non-Institutions held 10.90% and 24.39% respectively. Adhunik Metaliks is operating its captive Kulum iron ore mine in Orissa and its wholly owned subsidiary, Orissa Manganese & Minerals (OMML) is operating two iron ore mines in the State of Jharkhand and Orissa. Moreover, the mining operations in all the aforesaid three mines are going as usual and there will not be any impact of the current Apex Court verdict on these mines. Further, the steel plant of the company and pellet plant of OMML are also running as usual. Earlier, Supreme Court granted temporary working permission to the company to operate at Sulaipat Iron Ore Mine of B. C. Dagara. The Apex Court directed the Forest Department of the State of Odisha to take a decision within four weeks on the diversion proposal of the mine and also directed MoEF to decide within a period of four weeks of the receipt of the proposal to grant approval for the same. Adhunik Metaliks is the flagship company of the Kolkata-based Adhunik Group of Industries and is engaged in manufacturing of wide range of special steels used for different applications in the fields of automobile, construction and engineering.

CARE reaffirms ratings of Rolta India’s bank facilities

Credit rating agency, CARE has reaffirmed ‘A’ rating to Rolta India’s long term bank facilities worth Rs 2,546.30 crore. The rating agency has also reaffirmed ‘A1’ rating to Rs 368.75 crore short term bank facilities of the company. The reaffirmation of ratings assigned to bank facilities of the company factors in successful integration of AT Solutions Group which supplements company’s established track in providing solutions in niche Information Technology (IT) segment, higher contribution of Intellectual Property (IP) led business and healthy order book position providing medium to long-term revenue visibility. Rolta India conducts business in India, and internationally through subsidiaries in various countries. Rolta is a leading provider of innovative IT solutions built around its intellectual property for many vertical segments, including Federal and State Governments, Defence, Homeland Security, Utilities, Process, Power, Financial Services, Manufacturing, Retail, and Healthcare.

HDFC Bank strengthens on plan to raise Rs 10,000 crore from the market

HDFC Bank is currently trading at Rs. 819.00, up by 7.20 points or 0.89% from its previous closing of Rs. 811.80 on the BSE. The scrip opened at Rs. 819.00 and has touched a high and low of Rs. 820.85 and Rs. 804.10 respectively. So far 53150 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 852.35 on 16-May-2014 and a 52 week low of Rs. 528.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 852.35 and Rs. 767.35 respectively. The current market cap of the company is Rs. 196620.80 crore. The promoters holding in the company stood at 22.64% while Institutions and Non-Institutions held 44.00% and 16.40% respectively. HDFC Bank, the country’s second largest private sector lender, is planning to raise Rs 10,000 crore from the market over the next one year. In this regard, the bank has received its board’s approval to sell fresh equity shares in both domestic and foreign markets. The proposed issue is to be made by creating, issuing, offering in the course of one or more public or private offerings in domestic or one or more international markets, equity shares and/or equity shares through depository receipts and/or securities convertible into equity shares at the option of the Bank and/or the holders of such securities, and/or securities linked to equity shares and/or any instrument or securities representing equity shares and/or convertible securities linked to equity shares. The notice also mentions that a final approval of the bank’s shareholder is needed which will be granted at the annual general meeting of the bank which is on June 25.

Mentha Oil futures trade higher on rising demand

Mentha Oil futures traded up on MCX as speculators enlarged positions amid rising demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh. However, expectations of higher output from the major producing belts capped some gains in mentha oil prices to some extent. The contract for May delivery was trading at Rs 850.10, up by 0.62% or Rs 5.20 from its previous closing of Rs 844.90. The open interest of the contract stood at 2999 lots. The contract for June delivery was trading at Rs 861.20, up by 0.55% or Rs 4.70 from its previous closing of Rs 856.50. The open interest of the contract stood at 1418 lots on MCX.

Jeera futures rise on pick up demand

Jeera futures traded up on NCDEX as speculators created fresh positions amid pick-up in export demand. Moreover, traders are expecting that exports of the commodity should rise in coming months amidst reports of lower production in Turkey and Syria that also impacted the sentiments. The contract for May delivery was trading at Rs 11305.00,up by 0.44% or Rs 50.00 from its previous closing of Rs 11255.00. The open interest of the contract stood at 333.00 lots. The contract for June delivery was trading at Rs 11320.00, up by 0.48% or Rs 55.00 from its previous closing of Rs 11375.00. The open interest of the contract stood at 9108.00 lots on NCDEX.

BHEL rises on inking MoU with Indonesian firm to set up power plant

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 270.15, up by 1.90 points or 0.71% from its previous closing of Rs. 268.25 on the BSE. The scrip opened at Rs. 270.80 and has touched a high and low of Rs. 278.75 and Rs. 259.10 respectively. So far 1206810 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 278.75 on 20-May-2014 and a 52 week low of Rs. 100.35 on 20-Aug-2013. Last one week high and low of the scrip stood at Rs. 278.75 and Rs. 200.05 respectively. The current market cap of the company is Rs. 65240.78 crore. The promoters holding in the company stood at 63.06% while Institutions and Non-Institutions held 32.61% and 4.33% respectively. Bharat Heavy Electricals (BHEL) has entered into initial agreement with PT Star Vyobros, Indonesia for setting up a 200 MW coal fired plant in the island nation. Though, the financial details of the pact were not divulged by the company. Earlier, BHEL signed one more memorandum of understanding (MoU) with PT APAC INTI, Indonesia for setting up a 25-30 MW Solar Photovoltaic based power plant in the Java region in Indonesia. In Indonesia, BHEL is executing a coal-fired power plant for PT CKP, besides having commissioned two more coal-fired power plants in recent years. BHEL has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.

Kitex Garments to invest Rs 125 crore for expansion

Kitex Garments is planning to invest Rs 125 crore this fiscal in order to enhance production capacity and to upgrade technology. The 100 per cent EoU has a production capacity of 5.5 lakh pieces per day at its unit in Kizhakkambalam in Ernakulam district. This will be increased to 1.1 million pieces by 2015-16. The company is also planning to introduce robotic technology to meet the labour shortage. Kitex Garments is the third largest manufacturer of clothes for infants and caters to the biggest international buyers such as Gerber, Jockey, Carters, Kohls and The Childrens Place.

VistaJet adds five Global aircrafT to its fleet in Q1 2014

VistaJet will also take delivery of up to 10 new Challenger 350 and up to 10 Challenger 605 jets in 2014. VistaJet, the leading Global business aviation company, is on track with its worldwide expansion adding five Bombardier Global aircraft, valued at over US $250 million, to its fleet in the first quarter 2014. VistaJet will also take delivery of up to 10 new Challenger 350 and up to 10 Challenger 605 jets in 2014. Challenger jet deliveries are scheduled to begin in the third quarter. “This is truly an exciting start to the year,” said Thomas Flohr, Founder and Chairman of VistaJet. “As per our plan, we are taking delivery of Global aircraft and expanding our fleet. In the last two weeks of March alone we took delivery of four Global jets, this is unprecedented.” The company is also on track to renew its medium and long-range aircraft. The current Challenger 605 fleet aircraft will be completely renewed while the Challenger 350 jets will replace the current fleet of Learjet 60 XR aircraft. “VistaJet is committed to offering top of the line aircraft and to maintaining the youngest fleet in the sky – with an average age of two years and all aircraft operating under the manufacturer’s warranty,” said Mr. Flohr. “I am particularly pleased about the introduction of the Challenger 350 jet to the fleet as I was personally active in the customer focus groups for this aircraft. It offers an amazing combination of cabin technology and overall performance. I can confirm that VistaJet’s Challenger 350 aircraft will feature a unique configuration, geared toward maximum comfort, privacy and security. The Challenger fleet renewal will be complete by the end of the year,” continued Flohr. VistaJet is the only operator of its size requiring a Cabin Hostess on all flights. The company’s Challenger 350 aircraft feature an eight-seat double club configuration along with a jumpseat position for the Cabin Hostess and a bulkhead door between the galley and main cabin, ensuring both maximum passenger seating and privacy. Flohr concludes, “VistaJet is the only luxury brand in aviation which focuses on providing an understated and bespoke service, we carried 27,000 passengers on 11,000 international flights in 2013. Flying with VistaJet is simple: innovative flight solutions are designed for each individual customer’s needs ensuring maximum safety and value without any asset risk. This simple business model means the entire VistaJet fleet is made available to all its Program customers – with guaranteed availability – offering a truly global reach with no positioning costs.”

Muthoot Finance trades higher on the bourses

Muthoot Finance is currently trading at Rs. 206.05, up by 4.95 points or 2.46% from its previous closing of Rs. 201.10 on the BSE. The scrip opened at Rs. 209.00 and has touched a high and low of Rs. 221.00 and Rs. 205.00 respectively. So far 22091 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 221.00 on 20-May-2014 and a 52 week low of Rs. 73.60 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 221.00 and Rs. 175.00 respectively. The current market cap of the company is Rs. 8233.12 crore. The promoters holding in the company stood at 80.12% while Institutions and Non-Institutions held 11.37% and 8.51% respectively. Muthoot Finance has planned to set up 100 white-label ATMs across the country this quarter with the focus on rural and semi-urban areas. The company has opened its first ATM in Chennai, also the 29th in the country. A white-label ATM is similar to a normal bank ATM with facilities of cash withdrawal and balance enquiry but are owned and operated by non-banking companies.  The company has partnered with FIS Payment Solutions and Services India, which would act as technical partner for the project and Federal Bank as the sponsor Bank. Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.

Moody’s affirms Ba3 corporate family rating of Tata Motors

Global credit rating agency, Moody’s Investors Service has affirmed the Ba3 corporate family rating of Tata Motors and maintained the stable outlook.

The group’s consolidated results for the financial year ended March 31, 2014, to be announced on May 29, is expected to be improved on y-o-y basis, on the back of record performance from Jaguar Land Rover Automotive plc which sold 434,311 cars in FY2014, an increase of 15.9% over FY2013.

Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.

Muthoot Finance to set up 100 white-label ATMs this quarter

Muthoot Finance has planned to set up 100 white-label ATMs across the country this quarter with the focus on rural and semi-urban areas. The company has opened its first ATM in Chennai, also the 29th in the country. A white-label ATM is similar to a normal bank ATM with facilities of cash withdrawal and balance enquiry but are owned and operated by non-banking companies.  

The company has partnered with FIS Payment Solutions and Services India, which would act as technical partner for the project and Federal Bank as the sponsor Bank.

Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.

Punjab, Haryana state procures 180 LT of wheat

Food grain producing states Punjab and Haryana have procured nearly 180 lakh tonnes (LT) of wheat, beating the record of recent years. Despite inclement weather conditions and untimely rains, the state of Punjab has successfully achieved the wheat procurement target of 115 LT on May 18. The farmers have been paid over Rs 14,378 crore for the wheat procured. The procurement process was in full swing with various government agencies and private millers procuring over 115.63 LT of wheat at 1,757 procurement centres. The agencies had procured only 110.32 LT of wheat in the same period last year. The district of Sangrur in Punjab is leading in procurement, followed by Ludhiana and Bathinda districts. In Haryana, nearly 64.40 LT of wheat has arrived in various grain markets during the current procurement season. The government agencies here have procured nearly 64.38 LT of wheat. Last year, only 58.57 LT of wheat had arrived in the corresponding period. Sirsa, Fatehabad and Karnal districts were leading in wheat procurement.

Coriander futures trade lower on sluggish demand

Coriander futures traded down on NCDEX as speculators reduced positions due to sluggish demand in the spot markets. Besides, adequate stocks position in the physical market due to higher arrivals from producing belts also put pressure on coriander prices. The contract for May delivery was trading at Rs 9180.00,down by 0.07% or Rs 6.00 from its previous closing of Rs 9186.00. The open interest of the contract stood at 3780.00 lots. The contract for June delivery was trading at Rs 9500.00, down by 0.12% or Rs 11.00 from its previous closing of Rs 9511.00. The open interest of the contract stood at 42460.00 lots on NCDEX.

Dynamatic Technologies gains on inking pact for sale of additional non-core assets

Dynamatic Technologies is currently trading at Rs. 901.00, up by 8.50 points or 0.95% from its previous closing of Rs. 892.50 on the BSE. The scrip opened at Rs. 919.00 and has touched a high and low of Rs. 937.00 and Rs. 901.00 respectively. So far 269 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 952.70 on 28-Mar-2014 and a 52 week low of Rs. 465.00 on 27-Aug-2013. Last one week high and low of the scrip stood at Rs. 937.00 and Rs. 807.00 respectively. The current market cap of the company is Rs. 499.16 crore. The promoters holding in the company stood at 55.99% while Institutions and Non-Institutions held 20.05% and 23.96% respectively. Dynamatic Technologies has signed an agreement for sale of additional non-core assets for Rs 70 crore. This sale of non-core assets is part of the company’s initiatives to reduce its overall debt thereby improving its Balance Sheet. Dynamatic Technologies is engaged in the activity of manufacturing hydraulic gear pumps. It is also engaged in manufacturing a variety of advanced hydraulic valves, hydraulic pumping units, custom-made hydraulic solutions, marine power packs, turnkey industrial instrumentation, and complicated aircraft ground-support systems.

IBM unveils software defined storage technology for Era of Big Data

Elastic Storage was used for the Jeopardy! television match between IBM's Watson and two former Jeopardy! champions IBM unveiled a portfolio of software defined storage products that deliver improved economics at the same time they enable organizations to access and process any type of data, on any type of storage device, anywhere in the world. One technology in the portfolio, codenamed “Elastic Storage,” offers unprecedented performance, infinite scale, and is capable of reducing storage costs up to 90% by automatically moving data onto the most economical storage device. Born in IBM Research Labs, this new breakthrough technology allows enterprises to exploit – not just manage – the exploding growth of data in a variety of forms generated by countless devices, sensors, business processes, and social networks. The new storage software is ideally suited for the most data-intensive applications, which require high-speed access to massive volumes of information – from seismic data processing, risk management and financial analysis, weather modeling, and scientific research, to determining the next best action in real-time retail situations. “Digital information is growing at such a rapid rate and in such dramatic volumes that traditional storage systems used to house and manage it will eventually run out of runway,” said Sandeep Dutta, Associate Director - IBM Storage Systems, India/South Asia, “Our technology offers the advances in speed, scalability and cost savings that clients require to operate in a world where data is the basis of competitive advantage.” Software-defined storage is a set of software capabilities that automatically manage data locally and globally, providing breakthrough speed in data access, easier administration and the ability to scale technology infrastructures quickly and more cost-effectively as data volumes expand. In addition, these advances can work with any company’s storage systems to provide automated and virtualized storage. Game-Changing Technology Elastic Storage was used for the Jeopardy! television match between IBM's Watson and two former Jeopardy! champions. For the show, IBM’s Watson had access to 200 million pages of structured and unstructured data, including the full text of Wikipedia. By using Elastic Storage, the five terabytes of Watson’s “knowledge” (or 200 million pages of data) were loaded in only minutes into the computer’s memory. A key reason the software was chosen for the Watson system that competed on Jeopardy! was its scalability, the architectural limits for which stretch into the thousands of “yottabytes.” A yottabyte is one billion petabytes, or the equivalent of a data center the size of one million city blocks, which would fill the states of Delaware and Rhode Island combined. IBM Research has demonstrated that Elastic Storage can successfully scan 10 billion files on a single system in just 43 minutes -- a technology demonstration that translates into unequalled performance for clients analyzing massive data repositories to extract business insights. At its core, Elastic Storage builds on IBM’s global file system software to provide online storage management, scalable access, and integrated data governance tools capable of managing vast amounts of data and billions of files. For example, Elastic Storage also exploits server-side Flash for up to six times increase in performance than with standard SAS disks. This feature recognizes when a server has Flash storage and automatically uses that Flash as cache memory to improve performance. Elastic Storage virtualizes the storage allowing multiple systems and applications to share common pools of storage. This enables transparent global access to data without the need to modify applications and without the need for additional and often disruptive storage management applications. Since Elastic Storage is not reliant on centralized management to determine file location and placement, customers can have continuous and highly-available access to data in the event of software or hardware failures. For the National Center for Atmospheric Research’s Computational and Information Services Laboratory (CISL), growing data volumes are part of its DNA. The organization, which stores and manages more than 50 petabytes of information between its Wyoming and Colorado centers, relies on Elastic Storage to give researchers fast access to vast amounts of diverse data. A key component of Elastic Storage is its ability to automatically and intelligently move data to the most strategic and economic storage system available. Through policy-driven features and real-time analytics, for example, Elastic Storage can automatically move infrequently-used data to less expensive low-cost tape drives, while storing more frequently-accessed data on high-speed Flash systems for quicker access. Such policy-driven features can provide cost savings of up to 90 percent. In addition, the software features native encryption and secure erase, which ensures that data is irretrievable to comply with regulations such as HIPAA and Sarbanes-Oxley. Through its support of OpenStack cloud management software, Elastic Storage also enables customers to store, manage and access data across private, public and hybrid clouds for global data sharing and collaboration. In addition to supporting OpenStack Cinder and Swift access, Elastic Storage supports other open APIs such as POSIX and Hadoop. While traditional storage systems must move data to separate designated systems for transaction processing and analytics, Elastic Storage can automatically balance resources to support both types of application workloads, including Hadoop based analytics. This dramatically speeds analysis and eliminates the costly and time-consuming process of producing duplicate copies of data. Elastic Storage software will also be available as an IBM SoftLayer cloud service later this year.

TBZ Q4 total income at Rs447crores

Q4 FY14 PAT declined by 53% to Rs. 12 crores with a PAT margin of 2.6%. Tribhovandas Bhimji Zaveri Limited, India’s renowned and trusted jewellery retailer with a legacy of over 149 years, reported its audited results and financial performance for the fourth quarter and financial year ending 31st March 2014. The total income from operations during FY14 grew 10% YoY to Rs. 1,824crores. FY14 EBITDA declined by11% to Rs. 133crores with an EBITDA margin of 7.3%. FY14 PAT declined by35% to Rs. 55crores with a PAT margin of 3%. The total income during Q4 FY14 was flat at Rs. 447crores. Q4 FY14 EBITDA declined by28% to Rs. 32crores with an EBITDA margin of 7.2%. Q4 FY14 PAT declined by 53% to Rs. 12 crores with a PAT margin of 2.6%. The company reported stable operating performance during the year, despite facing a challenging business environment, marked by economic slowdown, persistent high inflation, weak consumer sentiments and unfavourable regulatory environment, leading to subdued jewellery demand in this period. Under these difficult operating conditions, the company remained focussed on growth of sales while keeping operating costs and debt within acceptable limits. The company took a judicious decision to go slow on store expansion and focussed more on improving the performance of the existing stores through improved same-store sales, customer footfalls and steady margins. While ensuring sufficient gold supplies at all existing 27 stores, the company remained determined on stimulating customer demand by introducing appealing jewellery designs, tactical discounts and innovative marketing strategies.    The total dividend this year amounts to 22.50%, the Board of Directors having recommended a dividend of Rs. 2.25 (two rupees twenty five paise) per equity share which comprises of Rs. 1.50 (one rupee fifty paise) per equity share of Rs. 10 each i.e. 15 % (Previous year: Rs. 2.25 per equity share i.e. 22.50%) and special dividend of Rs.0.75 (seventy five paise) per equity share of Rs. 10 each i.e. 7.5 % on the special occasion of completion of the 150th year of the organization. The payment is subject to approval of shareholders in the ensuing Annual General Meeting. Shrikant Zaveri, Chairman and Managing Director of the company stated that “We have successfully navigated through one of the toughest times seen over the last decade and have emerged stronger to gain from the improving economic scenario in the coming year. We remain committed to investing in our future through calibrated expansion of our domestic operations withimproved product offerings, innovative jewellery designs, and trained sales team which will help us replicate our strong performance criteria in all our stores across India”.

Realty and infrastructure stocks surges

The S&P BSE Realty index was up 3%.

Shares of Real estate and infrastructure stocks surged by up to 10% on expectations of change in policy environment. Shares of Unity Infrasprojects, Lanco Infratech, IL&FS Engineering and Constructions,Unitech, Oberoi Realty rallied more than 10%. The S&P BSE Realty index was up 3%.

FDC surges on buying land including factory building for Rs 115 crore

FDC is currently trading at Rs. 124.80, up by 1.55 points or 1.26% from its previous closing of Rs. 123.25 on the BSE. The scrip opened at Rs. 124.25 and has touched a high and low of Rs. 125.50 and Rs. 123.50 respectively. So far 16948 shares were traded on the counter. The BSE group 'B ' stock of face value Rs. 1 has touched a 52 week high of Rs. 145.00 on 02-Apr-2014 and a 52 week low of Rs. 79.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 134.05 and Rs. 123.10 respectively. The current market cap of the company is Rs. 2198.02 crore. The promoters holding in the company stood at 68.89% while Institutions and Non-Institutions held 12.22% and 18.89% respectively. FDC has purchased a land including factory building situated at C - 11 & C - 12, Dalia Industrial Estate, Andheri (West), Mumbai for a total consideration of Rs 115 crore. The company intends to use the land for its business operations. FDC pioneered the manufacture of specialized ophthalmic formulations in India. At present, its pioneer brand ‘Electral’ stands apart with a special identity- an impressive achievement in a fiercely competitive market. FDC’s API plant at Roha (Maharashtra) was among the first few API facilities in India to get US-FDA approval in 1984.

Sensex down; IT scrips up

Some buying activity is seen in realty, IT, FMCG, healthcare and metal sectors on BSE, while sectors such as capital goods, banking, power and oil & gas are losing sheen

10:45AM: The BSE Sensex is tradingdown 4 points at 24,358, while S&P Nifty is trading up 2.60 points at 7,266. BSE Mid-cap is up 1.17% at 8,186, while BSE Small-cap is up 1.55% at 8,474. Some buying activity is seen in realty, IT, FMCG, healthcare and metal sectors on BSE, while sectors such as capital goods, banking, power and oil & gas are losing sheen. Tata Steel, Dr Reddy's Lab, Infosys, Wipro and SSLT are among the gainers, whereasCoal India, ONGC, NTPC, RIL, Hero Motocorp and Gail are losing sheen on BSE. Nikkei is trading up 0.62% at 14,093, while Hang Seng is trading up 0.72% at 22,867.

FDC buys land including factory building for Rs 115 crore

FDC has purchased a land including factory building situated at C - 11 & C - 12, Dalia Industrial Estate, Andheri (West), Mumbai for a total consideration of Rs 115 crore. The company intends to use the land for its business operations. FDC pioneered the manufacture of specialized ophthalmic formulations in India. At present, its pioneer brand ‘Electral’ stands apart with a special identity- an impressive achievement in a fiercely competitive market. FDC’s API plant at Roha (Maharashtra) was among the first few API facilities in India to get US-FDA approval in 1984.

SKS Microfinance surges on plan to raise Rs 400 crore through QIP

SKS Microfinance is currently trading at Rs. 258.40, up by 5.85 points or 2.32% from its previous closing of Rs. 252.55 on the BSE.

The scrip opened at Rs. 255.15 and has touched a high and low of Rs. 264.00 and Rs. 255.15 respectively. So far 195725 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 282.40 on 22-Apr-2014 and a 52 week low of Rs. 95.60 on 24-May-2013.

Last one week high and low of the scrip stood at Rs. 264.00 and Rs. 233.55 respectively. The current market cap of the company is Rs. 2816.72 crore.

The promoters holding in the company stood at 27.90% while Institutions and Non-Institutions held 43.54% and 28.56% respectively.

SKS Microfinance is all set to raise around Rs 400 crore through Qualified Institutional placement (QIP) in February 2015 by diluting a maximum of 20 per cent stake. The proposed capital raise of up to Rs 400 crore will fund growth opportunities besides reinforcing the capital position of the company.

During the last financial year, SKS posted Rs 70-crore profit. In the previous financial year, SKS incurred loss of Rs 30 crore. The revenue grew to Rs 519 crore as compared to Rs 332 crore in FY13. 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.