Reliance Cement already sells in the key cities of Maharashtra, Madhya Pradesh, Uttar Pradesh and Jharkhand | ||||
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Wednesday, 21 May 2014
Reliance Cement forays into West Bengal
Reliance Cement already sells in the key cities of Maharashtra, Madhya Pradesh, Uttar Pradesh and Jharkhand | ||||
BSE Sensex above 24,300
Some buying activity is seen in realty, auto, IT and FMCG sectors on BSE, while sectors such as banking, capital goods, oil & gas and healthcare are losing sheen | |
HPCL plans to acquire 11-15% stake in Petronet's east coast terminal
Hindustan Petroleum Corp (HPCL) is planning to acquire 11-15% stake in Petronet LNG's Rs 5,000 crore LNG import terminal on the east coast. HPCL's Vizag refinery in Andhra Pradesh is being expanded to 15 million tonnes per annum (MTPA) from current 8.33 MT and the expanded unit will have a gas requirement of close to 3 MT.
HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.
Ajilon Partners with ITC Infotech
Ajilon, one of Australia’s largest resourcing, business and technology companies, has partnered with ITC Infotech, the IT services and solutions arm of ITC, to jointly offer Australian clients deep domain and technology expertise coupled with a robust global delivery model in the oil and gas, mining and logistics, public sector, energy and commercial sectors.
Ajilon and ITC Infotech will collaborate to offer a number of business and IT services including Business Analytics, Mobility, Custom Application Development and Application Managed Services, as well as providing Business and IT Services with some of the world’s leading software providers such as SAP and Microsoft. With over 6000 employees, ITC Infotech combines business consulting, deep technical expertise and offshore delivery capability to provide technology solutions to customers across US, Europe, Middle East and APAC.
ITC, a diversified conglomerate has business interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
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RPP Infra Projects bags new orders worth Rs 101 million
R.P.P. Infra Projects, one of the India's leading and fast growing Non Metro/Rural based company engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plants, has won few contracts in Tamil Nadu.
The Company has recently awarded a Contract for maintenance of factory building, construction of civil & structural steel works, interior decorations, water supply, railway sidings, horticulture, housekeeping, sanitation etc in entire factory complex of BHEL, Trichy for Rs 56 Million and the period of Contract is 15 months.
The Company is currently executing a Project for Construction and expansion of additional shop floors, machine foundation, RCC/Steel framed structure and other infrastructure works at Seamless Steel Tube Plant, BHEL, Trichy for Rs.45 million and the period of Contract is 12 Months.
The Company has Successfully completed a Contract with Karnataka Power Transmission Corporation for up-gradation of existing 2x5 MVA 33/11 KV Sub-station to 2 x 10 MVA 110/11 KV sub-station at Hanumanal and construction of 110KV S/C Line on DC Towers from proposed 11Q/33/11KV Sub-station at Hiregonnagara to the proposed 110/11 KV Sub-station at Hanumanal for a distance of 10.58 KM's and construction of 110KV Terminal Bay at proposed 11Q/33/11 KV Sub-station at Hiregonnagara for the proposed 110KV S/C Line to the proposed 110/11KV Hanumanal Sub-Station.
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Reliance Industries moves up on the bourses
Reliance Industries is currently trading at Rs. 1080.00, up by 1.50 points or 0.14% from its previous closing of Rs. 1078.50 on the BSE.
The scrip opened at Rs. 1080.00 and has touched a high and low of Rs. 1102.65 and Rs. 1074.05 respectively. So far 237167 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1142.50 on 16-May-2014 and a 52 week low of Rs. 765.00 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 1142.50 and Rs. 1040.00 respectively. The current market cap of the company is Rs. 348825.86 crore.
The promoters holding in the company stood at 45.30 % while Institutions and Non-Institutions held 29.86 % and 21.41 % respectively.
Reliance Industries’ telecom arm -Reliance Jio Infocomm has reportedly commenced rolling out mobile network and WiFi hotspot services on a pilot basis, a forerunner to the fourth generation services it plans to launch later this year. The company will use multiple standards for its 4G data offering as well as varying technologies, including wireline services.
In addition to 4G wireless services, the company will roll out wireline services (over optic fibre) in over 900 cities/towns.
RJIL, India’s largest private sector company, is the first telecom operator to hold pan India Unified License. This license authorizes RJIL to provide all telecommunication services except Global Mobile Personal Communication by Satellite Service.
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India Ratings assigns long-term issuer rating of ‘A’ to JK Tyre
Credit rating agency, India Ratings & Research has assigned JK Tyre & Industries a Long-Term Issuer Rating of ‘A’. The outlook is stable. The ratings draw support from the company’s established position in the Indian tyre industry as the third-largest tyre manufacturer. The ratings also draw comfort from the company’s strong brand image backed by its pan-India distribution network.
JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.
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Brahmaputra Infrastructure gets nod for CDR
Brahmaputra Infrastructure has received an approval for Corporate Debt Restructuring (CDR) under CDR Mechanism in terms of guidelines laid down by the Reserve Bank of India (RBI) in February 2014. The board of directors at its meeting held on May 15, 2014 has approved for the same.
Further, the board has also delegated the powers to Joint Managing Director to co-ordinate with the consortium of bankers for the same and to take all necessary actions as may be required from time to time.
Brahmaputra Infrastructure is an infrastructure project development company and provides engineering, procurement and construction services for infrastructure projects in India. BIL is also executing real estate development projects.
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SKS Trust sells around 7.5% stake in SKS Microfinance
Biksham Gujja-led SKS Trust, the single-largest shareholder of the SKS Microfinance has sold nearly 7.5% stake in SKS Microfinance in block deal on May 21, 2014. SKS trust held 12.5% equity stake in SKS Microfinance.
As on March 31, 2014, the promoters holding in the company stood at 27.90% while institutions and non-institutions held 43.54% and 28.56% stake in the company respectively.
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.
Reliance Industries’ arm rolls out wi-fi services on pilot basis: Report
Reliance Industries’ telecom arm -Reliance Jio Infocomm has reportedly commenced rolling out mobile network and WiFi hotspot services on a pilot basis, a forerunner to the fourth generation services it plans to launch later this year. The company will use multiple standards for its 4G data offering as well as varying technologies, including wireline services.
In addition to 4G wireless services, the company will roll out wireline services (over optic fibre) in over 900 cities/towns.
RJIL, India’s largest private sector company, is the first telecom operator to hold pan India Unified License. This license authorizes RJIL to provide all telecommunication services except Global Mobile Personal Communication by Satellite Service.
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IDBI Bank launches comprehensive IT system ‘I-DaB’
IDBI Bank has ‘BS 25999 certified’ robust Disaster and Business Continuity Management (I-DaB) processes in place. | |
Aditya Birla Nuvo shines on earmarking Rs 460 crore as capital expenditure
Aditya Birla Nuvo is currently trading at Rs. 1249.35, up by 6.25 points or 0.50% from its previous closing of Rs. 1243.10 on the BSE.
The scrip opened at Rs. 1240.15 and has touched a high and low of Rs. 1257.55 and Rs. 1222.95 respectively. So far 20,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1290.10 on 04-Oct-2013 and a 52 week low of Rs. 996.40 on 22-Aug-2013.
Last one week high and low of the scrip stood at Rs. 1283.85 and Rs. 1137.10 respectively. The current market cap of the company is Rs. 16,236.00 crore.
The promoters holding in the company stood at 57.23% while Institutions and Non-Institutions held 27.44% and 12.89% respectively.
Aditya Birla Nuvo (ABNL) has earmarked a capital expenditure plan of around Rs 460 crore for 2014-15. The company plans to invest about Rs 350 crore in the financial services business. Going forward, ABNL’s thrust is on capturing growth opportunities across its businesses.
Aditya Birla Nuvo is a $4 billion conglomerate operating in the services and the manufacturing sectors, where it commands a leadership position. Its service sector businesses include Financial Services (Life Insurance, Asset Management, NBFC, Private Equity, Broking, Wealth Management and general insurance advisory), Fashion & Lifestyle (Branded apparels & Textiles) and Telecom.
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Sugar futures edge lower on prevailing higher stocks
Sugar futures traded down on NCDEX due to large supplies at the local market. Besides, prevailing higher stocks in the markets on account of lower demand from stockists and bulk consumers, attributed the fall in sweetener's prices.
The contract for June delivery was trading at Rs 3010.00,down by 0.66% or Rs 20.00 from its previous closing of Rs 3030.00. The open interest of the contract stood at 51510.00 lots.
The contract for July delivery was trading at Rs 3011.00, down by 0.69% or Rs 21.00 from its previous closing of Rs 3032.00. The open interest of the contract stood at 23570.00 lots on NCDEX.
Chana futures edge lower on sluggish demand
Chana futures traded lower on NCDEX on account of sluggish demand in the spot market against increased supplies from the major producing belts. Further, expection of bumper production from the major producing belts too influenced chana prices.
The contract for June delivery was trading at Rs 2966.00, down by 0.20% or Rs 6.00 from its previous closing of Rs 2972.00. The open interest of the contract stood at 146790 lots.
The contract for July delivery was trading at Rs 3033.00, down by 0.16% or Rs 5.00 from its previous closing of Rs 3038.00. The open interest of the contract stood at 63640 lots on NCDEX.
Atul touches the roof as SAIF Partners plans to acquire 10% stake in the company
Atul is currently trading at its upper circuit limit of Rs. 796.55, up by 72.40 points or 10.00% from its previous closing of Rs. 724.15 on the BSE.
The scrip opened at Rs. 750.00 and has touched a high and low of Rs. 796.55 and Rs. 749.70 respectively. So far 107810 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 796.55 on 21-May-2014 and a 52 week low of Rs. 280.20 on 26-Jun-2013.
Last one week high and low of the scrip stood at Rs. 796.55 and Rs. 701.95 respectively. The current market cap of the company is Rs. 2362.71 crore.
The promoters holding in the company stood at 50.62% while Institutions and Non-Institutions held 7.70% and 41.69% respectively.
Private equity fund SAIF Partners is planning to acquire 10% stake in Atul, a Lalbhai Group company. The PE firm has started buying stake from the open market and will end up with 10% by June-end. SAIF will invest Rs 250-300 crore in the company. The company's market capitalisation is around Rs 2,147.95 crore.
Atul is a member of Lalbhai Group, one of the oldest business houses of India, with interests mainly in textiles and chemicals. The Group is strongly committed to serve the society in the fields of education, health as well as culture. The company operates through six business divisions, namely, Agrochemicals, Aromatics, Bulk Chemicals & Intermediates, Colors, Pharmaceuticals & Intermediates and Polymers.
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Crude palm oil futures trade higher on rising demand
Crude palm oil futures edged marginally higher on MCX as speculators created fresh positions driven by rising demand in spot markets against tight supplies from the major producing belts. However, weakness in overseas prices capped some gains in crude palm oil prices.
The contract for May delivery was trading at Rs 537.20, up by 0.02% or Rs 0.10 from its previous closing of Rs 537.10. The open interest of the contract stood at 1747 lots.
The contract for June delivery was trading at Rs 533.10, up by 0.06% or Rs 0.30 from its previous closing of Rs 532.80. The open interest of the contract stood at 3103 lots on MCX.
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Jeera futures decline on ample supply
Jeera futures traded down on NCDEX on account of subdued export demand amid sufficient supplies in the local market. Moreover, offloading of positions by speculators on the back of sluggish demand in the spot market against adequate stocks position also kept Jeera prices lower at futures trade.
The contract for June delivery was trading at Rs 11200.00, down by 0.44% or Rs 50.00 from its previous closing of Rs 11250.00. The open interest of the contract stood at 9102.00 lots.
The contract for July delivery was trading at Rs 11365.00, down by 0.35% or Rs 40.00 from its previous closing of Rs 11405.00. The open interest of the contract stood at 3363.00 lots on NCDEX.
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Federal Bank expects NIMs to remain stable in FY15
Federal Bank is expecting Net Interest Margin (NIMs) to remain stable in the range of 3.3-3.35% in FY15. The private sector lender is expecting the credit growth momentum to continue going ahead. The bank is well capitalized and is not looking to raise funds at this point of time.
The bank has reported a rise of 24.93% in its net profit after tax at Rs 277.29 crore for the quarter ended March 31, 2014 as compared to Rs 221.94 crore for the same quarter in the previous year. Total income of the bank has increased by 13.30% at Rs 2017.12 crore for quarter under review as compared to Rs 1780.31 crore for the quarter ended March 31, 2013.
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Mentha oil futures edge lower on MCX
Mentha oil futures declined on MCX as speculators reduced their holdings driven by sluggish demand from consuming industries in the spot market against supply pressure from Chandausi in Uttar Pradesh. Besides, expectations of higher output from the major producing belts too adding pressure on mentha oil prices.
The contract for May delivery was trading at Rs 833.00, down by 0.10% or Rs 0.80 from its previous closing of Rs 833.80. The open interest of the contract stood at 2983 lots.
The contract for June delivery was trading at Rs 844.30, down by 0.24% or Rs 2.00 from its previous closing of Rs 846.30. The open interest of the contract stood at 1590 lots on MCX.
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SKS Microfinance trades jubilantly on the bourses
SKS Microfinance is currently trading at Rs. 275.00, up by 17.65 points or 6.86% from its previous closing of Rs. 257.35 on the BSE.
The scrip opened at Rs. 257.90 and has touched a high and low of Rs. 280.80 and Rs. 241.10 respectively. So far 1519938 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. 280.80 and Rs. 235.00 respectively. The current market cap of the company is Rs. 2979.60 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 has set a floor price of Rs 235.06 a share for its qualified institutional placement. The board of directors of the company, at its meeting on May 19, decided to open a QIP issue by way of issue of equity shares. It intends to raise around Rs 400 crore with a maximum dilution of 20 per cent equity to meet funding requirements for its growth plans.
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 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. It operates across 16 states of India.
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Haryana state procures over 64.56 LT of wheat
During the current procurement season, over 64.56 lakh tonnes (LT) of wheat has so far arrived in various grain markets in Haryana. Of the procured 64.56 LT, the government agencies have procured 64.53 LT of wheat whereas, 2,779 tonnes have been purchased by traders. The state has procured over 58.57 LT during the corresponding period last year.
HAFED has purchased highest 25 LT of wheat, followed by over 17.88 LT by Food and Supplies Department. Similarly, Agro Industries Corporation has purchased over 5.71 LT of wheat, Haryana Warehousing Corporation 6.32 LT, CONFED 1.62 LT and Food Corporation of India 7.98 LT during the current procurement season so far.
The district of Sirsa was leading in the wheat arrival where over 9.46 LT of wheat had arrived in the mandis, followed by Fatehabad with 7.03 LT. In order to avoid difficulty while selling their produce, farmers have been asked to bring dry and properly cleaned wheat in the mandis.
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Business confidence in India improves during Q4 FY14: NCAER
| Economic think-tank the National Council of Applied Economic Research (NCAER), in its latest report, has noted that the business confidence in last quarter of 2013-14 improved further on expectations of a new electoral mandate that buoyant the overall sentiments. The Business Confidence Index (BCI) in March quarter rose by about 3.8 percent from the previous quarter to 127 points, showing a second successive improvement in business sentiments. In line with the BCI, the Political Confidence Index (PCI) also showed improvement to 136.6 points in April 2014 from 112.9 points in January 2014. The NCAER’s report further highlighted that the macroeconomic and sectoral level improvements also helped to boost the business sentiments in the country. Moderating inflation rate, shrinking current account deficit and appreciation in rupee value against the dollar have all aided positive sentiments. During FY14, the CAD is likely to improve at around 2% of GDP level as against the record high at 4.8% of GDP in FY13 on the back of improved trade deficit figure. The expectation of improvement financial position of corporates was the main factor behind the increase in overall confidence, the report added. However, the lower ratings on investment climate remain the area of concern in the present survey. Presently, Indian economy is struggling with slowdown and the factors like high interest rates, low investments and slow execution of infrastructure projects have been impacting economy’s growth. Indian economy’s growth slowed down to 4.6 percent during the first three quarter of FY14 and is likely to remain at sub-5% level in FY14. |
GATI spurts after Macquarie Bank acquiries over 1% stake in company
| GATI is currently trading at Rs. 102.50, up by 6.45 points or 6.72 % from its previous closing of Rs. 96.05 on the BSE. The scrip opened at Rs. 97.75 and has touched a high and low of Rs. 103.75 and Rs. 97.75 respectively. So far 998629 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 101.00 on 20-May-2014 and a 52 week low of Rs. 22.65 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 101.00 and Rs. 81.00 respectively. The current market cap of the company is Rs. 902.31 crore. The promoters holding in the company stood at 38.11 % while Institutions and Non-Institutions held 0.90 % and 60.99 % respectively. Macquarie Bank has acquired over 1% stake in Gati for Rs 10 crore through open market purchase. A unit of Australia’s Macquarie Group has purchased 1.02 million shares representing 1.18% stake of the company at an average price of Rs 97.02 per share in a bulk deal on May 20, 2014. As on March 31, 2014, the promoters holding in the company stood at 38.11% while institutions and non-institutions held 0.90% and 60.99% stake in the company, respectively. Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo. |
Cardamom futures edge lower on sluggish demand
Cardamom futures traded lower on MCX as speculators reduced their positions due to sluggish demand in the spot market against ample stocks position. Further, favorable weather conditions in the major producing belts too added pressure on cardamom prices.
The contract for June delivery was trading at Rs 968.00/Kg, down by 0.09% or Rs 0.90 from its previous closing of Rs 968.90/Kg. The open interest of the contract stood at 2515 lots.
The contract for July delivery was trading at Rs 941.00/Kg, down by 0.71% or Rs 6.70 from its previous closing of Rs 947.70/Kg. The open interest of the contract stood at 1097 lots on MCX.
PSU banks need to distance themselves from govt Influence: RBI
Batting for greater operational flexibility of public sector banks, Reserve Bank of India (RBI)’s governor, Raghuram Rajan highlighted that state run banks could become more competitive by distancing themselves from government influence, without sacrificing their public character. The governor further added that this would enable these state run banks to raise money easily from the markets, unlike the current situation where not so good performers have a greater hold on the public’s money. The remarks came in his annual day lecture of the Competition Commission of India (CCI).
He further highlighted that there are well-managed public sector banks across the world and in the country even today, so privatization would not necessary improve the competitiveness of the public sector, but change in governance, management, and operational and compensation flexibility of state run banks definitely was the need of the hour.
The RBI Governor pointed that a number of eminently practicable suggestions have been made to reform public sector banks (PSBs), such as creating a holding company to hold government PSB shares, increasing the length of PSB chief executive tenures, breaking up the position of chairman and CEO and bringing more independent professionals on bank boards, among others. But, underscored that these suggestions required evaluation since this would help give greater flexibility to public sector banks to compete in the new environment.
Referring to financial inclusion, Rajan said the RBI will come out with new relaxations on business correspondents shortly and also added that some of the entities which could become payment banks may be very well suited to support or substitute commercial banks to tap remote areas.
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Crompton Greaves bags order from CAMEG for high-end transformers
Avantha Group Company Crompton Greaves (CG) has bagged an order from CAMEG (Comptoir Algerien du Materiel Electrique et Gazier) for the supply and installation of 60kV Instrument Transformers at numerous substations across Algeria. The company will provide indigenously built high-voltage equipment worth 4 million euro, which include 800x60 kV Current Transformers, 800x60 kV Capacitive Voltage Transformers, and 250x60 KV Inductive Voltage Transformers.
The project commenced in April 2014 and will be completed by October 2015. CG’s manufacturing facilities in Nashik and Aurangabad will be a part of the project that involves CG delivering equipment to substations at Algiers, Oran, Skikda, DjenDjen and Mostaganem.
CAMEG is a subsidiary of Algeria’s state-owned energy company Sonelgaz, in charge of electricity and natural gas distribution in the country. Sonelgaz is investing heavily to expand and upgrade Algeria’s power generation and distribution network. CG’s high-end transformers will play a vital role in improving the reliability of the Algerian energy infrastructure.
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Readymade Steel strengthens as its arm bags order worth Rs 150 crore
Readymade Steel India is currently trading at Rs. 292.50, up by 4.60 points or 1.60% from its previous closing of Rs. 287.90 on the BSE.
The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 299.00 and Rs. 292.10 respectively. So far 3301 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 299.00 on 21-May-2014 and a 52 week low of Rs. 65.00 on 05-Jun-2013.
Last one week high and low of the scrip stood at Rs. 299.00 and Rs. 262.00 respectively. The current market cap of the company is Rs. 363.39 crore.
The promoters holding in the company stood at 61.30% while Institutions and Non-Institutions held 2.78% and 35.92% respectively.
Readymade Steel India’s (RMS) subsidiary - KH Foges, Singapore has bagged piling contracts worth S$31 million amounting Rs 150 crore which includes a large contract for Mass Rapid Transport Station in Singapore. All the above orders are scheduled to be executed within six to eight months. The current order book stands at S$70 million.
Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country. RMS's product offerings include ready to use steel, primarily re-bars to be used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.
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DERC refuses tariff hike for BSES discoms
A rate hike is crucial for the two discoms to pay NTPC Ltd Rs 700 crore of payment dues. | |
McNally Bharat receives order worth Rs 144.19 crore
McNally Bharat Engineering Company has received an order for construction of residential accommodation for an army base for a value of Rs. 144.19 crore.
McNally Bharat Engineering Company is one of the leading engineering companies. It provides turnkey solutions in areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply etc.
Readymade Steel India’s arm bags order worth Rs 150 crore
Readymade Steel India’s (RMS) subsidiary - KH Foges, Singapore has bagged piling contracts worth S$31 million amounting Rs 150 crore which includes a large contract for Mass Rapid Transport Station in Singapore. All the above orders are scheduled to be executed within six to eight months. The current order book stands at S$70 million.
Readymade Steel India is one of the pioneers in introducing the concept of ready to use steel for the construction industry in the country. RMS's product offerings include ready to use steel, primarily re-bars to be used in construction activities in various sectors like roads, power plants, ports, airports, housing, bridges, metros, monorails etc.
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Macquarie Bank acquires 1.18% stake of Gati
Macquarie Bank has acquired over 1% stake in Gati for Rs 10 crore through open market purchase. A unit of Australia’s Macquarie Group has purchased 1.02 million shares representing 1.18% stake of the company at an average price of Rs 97.02 per share in a bulk deal on May 20, 2014.
As on March 31, 2014, the promoters holding in the company stood at 38.11% while institutions and non-institutions held 0.90% and 60.99% stake in the company, respectively.
Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division. It also operates two container yards at Chennai and Port Blair which increases capability and provides for efficient handling of the cargo.
Infosys trades higher on the bourses
Infosys is currently trading at Rs. 3132.00, up by 12.95 points or 0.42% from its previous closing of Rs. 3119.05 on the BSE.
The scrip opened at Rs. 3117.00 and has touched a high and low of Rs. 3149.90 and Rs. 3097.30 respectively. So far 10052 shares were traded on the counter.
The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 3847.20 on 03-Mar-2014 and a 52 week low of Rs. 2315.75 on 30-May-2013.
Last one week high and low of the scrip stood at Rs. 3337.40 and Rs. 3005.00 respectively. The current market cap of the company is Rs. 180399.16 crore.
The promoters holding in the company stood at 15.94% while Institutions and Non-Institutions held 55.76% and 12.20% respectively.
Infosys has been chosen by Union National Bank (UNB), Abu Dhabi, one of the Middle East’s leading banks, which has implemented Infosys Finacle Treasury solution to empower its Treasury and Capital Markets’ business, as well as integrate its trading, risk management and back office operations. Finacle has also enabled UNB to extend its Fixed Income offering to newer markets in Europe and South East Asia and manage more asset types effectively.
The implementation of the Finacle Treasury solution will help UNB process trades faster and also aggregate risk across multiple asset classes seamlessly. The new solution has automated the monitoring of various limits and alerts to relevant stakeholders at UNB. It also offers real-time monitoring and action in case of a security breach.
Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.
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Physical Rubber prices showed some firmness on Tuesday
Physical Rubber prices showed some firmness on Tuesday on account of lower arrivals in the local trading houses. However, lack of follow-up buying at higher levels, capped gains in rubber prices to some extent.
Spot prices for RSS-4 variety remained unchanged at Rs 145/ kg; while the RSS-5 variety improved to Rs 142/kg compared to its previous closing of Rs 141/kg.
In the futures market, contract of June delivery inched up to Rs 148.85 compared to its previous close of Rs 148.64, while July delivery closed at Rs 150.25 compared to its previous closing of Rs 149.84 on the National Multi Commodity Exchange (NMCE).
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Canara Bank opens branch in Johannesburg
The bank has 4,750 branches across India, besides a presence in London, Hong Kong, Shanghai, Bahrain and Moscow | |
ICICI Bank launches redesigned website to enhance customer experience
ICICI Bank, India's largest private sector bank, has launched its redesigned website www .icicibank .com to offer its customers an enhanced experience across devices such as desktops, mobiles and tablets. Users of the website can now receive location specific information and offers, view their friends' activities, rate and review products, share their opinions on social media and take part in interactive games to enhance their knowledge about banking. The new design offers a seamless experience by auto adjustment of layout to match the user's screen size and platform.
ICICI Bank is India's largest private sector bank and the second largest bank in the country with consolidated total assets of $124.76 billion at March 31, 2014. ICICI Bank's subsidiaries include India's leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank's presence currently spans 19 countries, including India.
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Jet Airways flies high on the bourses
Jet Airways (India) is currently trading at Rs. 274.20, up by 5.70 points or 2.12% from its previous closing of Rs. 268.50 on the BSE.
The scrip opened at Rs. 270.20 and has touched a high and low of Rs. 274.80 and Rs. 267.90 respectively. So far 129430 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 598.40 on 21-May-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. 276.95 and Rs. 238.25 respectively. The current market cap of the company is Rs. 3066.56 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, the country’s premier international airline is planning enhance its air connectivity to Kathmandu from New Delhi by launching one more direct flight from May 23, 2014. Currently, the company operates two daily flights each out of Delhi and Mumbai and the addition of a third service from Delhi will boost connectivity and help tourists choose flights at their convenience. With the launch of this additional service from Delhi, the company will operate five daily flights to Kathmandu from India.
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.
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J Kumar Infra spurts on bagging multiple orders worth Rs 467.51 crore
| J Kumar Infraproject is currently trading at Rs. 256.00, up by 16.55 points or 6.91 % from its previous closing of Rs. 239.45 on the BSE. The scrip opened at Rs. 255.00 and has touched a high and low of Rs. 263.15 and Rs. 250.00 respectively. So far 137637 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 253.00 on 20-May-2014 and a 52 week low of Rs. 130.05 on 21-Oct-2013. Last one week high and low of the scrip stood at Rs. 253.00 and Rs. 201.00 respectively. The current market cap of the company is Rs. 712.27 crore. The promoters holding in the company stood at 57.35 % while Institutions and Non-Institutions held 6.17 % and 36.48 % respectively. J Kumar Infraprojects has bagged various orders worth Rs 467.51 crore from various authorities. The company has bagged order for W266 concreting of various roads in Western Suburbs worth Rs 204.94 crore. The company has also bagged an order worth Rs 109.26 crore for design and construction Flyover Grade Separator with All Allied Work Including Shifting of Utilities at KSB Chowk. The company has bagged construction of Bridge Over Mulla River Near Balewadi Survey No.46/47 Pune worth Rs 31.45 crore. Besides, it has bagged order for construction of ROB at Jogeshwari (South) in lieu of L.C. No. 24 & 25 enhanced from Rs 198.24 crore to Rs. 298.10 crore i.e. Rs 99.86 crore of worth work increased. Finally, the company has bagged other work from various client worth Rs 22.00 crore. J Kumar Infraprojects is engaged in the business of civil engineering construction contractors in Infrastructural projects mainly in roads, flyovers, bridges, commercial and residential buildings, sports complexes, irrigation projects, airport contracts. The company also undertakes the piling of foundation work using hydraulic piling rigs for major projects which are awarded to other contractors. |
Copper futures decline on demand concerns
Copper futures declined on Tuesday on worries regarding demand from the world’s top copper consumer China. However, the efforts by China to quicken the pace of reforms to support growth in the world's second-biggest economy, capped some losses in copper prices to some extent.
Copper futures for July delivery fell 0.7% to settle at $3.145 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed down 0.58% to $6,885 a metric ton.
Asian markets mostly trade lower in early deals on Wednesday
All the Asian equity benchmarks barring Shanghai Composite are trading lower in the early deals on Wednesday, tracking cues from Wall Street where the major averages ended notably lower overnight. The Japanese stocks are trading lower as the yen gained after the central bank refrained from boosting stimulus. On the economic front, Japan saw a merchandise trade deficit of 808.8 billion yen in April that missed forecasts for a shortfall of 646 billion yen following the 1,446 billion yen deficit in March. Among other markets in the Asia-Pacific region, Malaysia, Singapore, South Korea, Hong Kong, Taiwan and Indonesia are trading weak, while Shanghai is trading higher.
Hang Seng slipped by 20.47 points or 0.09% to 22,814.21, Jakarta Composite declined 12.24 points or 0.25% to 4,883.72, KLSE Composite decreased by 4.06 points or 0.22% to 1,877.10, Nikkei 225 tumbled by 100.16 points or 0.71% to 13,975.09, Straits Times crumbled 6.15 points or 0.19% to 3,259.32, Seoul Composite dipped by 5.05 points or 0.25% to 2,006.21 and Taiwan Weighted was down by 8.53 points or 0.10% to 8,879.26.
On the flip side, Shanghai Composite was up by 2.84 points or 0.14% to 2,010.96.
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Jet Airways plans to launch third direct Delhi to Kathmandu flight
Jet Airways, the country’s premier international airline is planning enhance its air connectivity to Kathmandu from New Delhi by launching one more direct flight from May 23, 2014. Currently, the company operates two daily flights each out of Delhi and Mumbai and the addition of a third service from Delhi will boost connectivity and help tourists choose flights at their convenience. With the launch of this additional service from Delhi, the company will operate five daily flights to Kathmandu from India.
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.
Canara Bank inaugurates branch in South Africa
Canara Bank has opened a branch at Johannesburg in South Africa as a part of its global expansion plans. The bank has 4,750 branches across India apart from a presence in London, Hong Kong, Shanghai, Bahrain and Moscow. The bank is also planning to go into Tanzania and Mozambique in Southern Africa as well as Germany, Dubai, Mexico, Australia and New Zealand. These are among 20 proposals which have already been approved by the Reserve Bank of India. A branch in New York will be opened next month.
Canara Bank has posted a fall of 15.79% in its net profit at Rs 610.83 crore for the quarter ended March 31, 2014, as compared to Rs 725.38 crore for the same quarter in the previous year. However, total income of the bank has increased by 22.57% at Rs 11609.72 crore for quarter under review as compared to Rs 9471.57 crore for the quarter ended March 31, 2013.
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Tata Group bullish on turnaround in Tata Steel Europe
Despite challenges in the market conditions and strong competition, Tata Steel Europe has won construction contracts in the UK, France and Saudi Arabia | |
Sun Pharma response to import ban lack sufficient corrective actions: USFDA
U.S. Food and Drug Administration said in a warning letter that Sun Pharmaceutical Industries Ltd's response to an import ban on one of its plants lacked "sufficient corrective actions.
Report stated that USFDA banned imports from Sun Pharma's Karkhadi plant in Gujarat in March.
Sun Pharma failed to ensure laboratory records had complete data and that manufacturing staff had inadequate training and experience, FDA was quoted as saying.
The Karkhadi plant, which makes the antibiotic cephalosporin, is one of Sun Pharma's 25 manufacturing plants.
MRPL Q4 net profit at Rs1067 crore
Mangalore Refinery and Petrochemicals Ltd has posted a net profit of Rs. 10670.40 mn for the Quarter ended March 31, 2014 as compared to net loss of Rs. (619.00) mn for the Quarter ended March 31, 2013.
Total Income has increased from Rs. 186755.70 mn for the Quarter ended March 31, 2013 to Rs. 198639.90 mn for the Quarter ended March 31, 2014.
The Company has posted a net profit of Rs. 6011.80 million for the year ended March 31, 2014 as compared to net loss of Rs. (7569.10) million for the year ended March 31, 2013.
Total Income has increased from Rs. 658075.50 mn for the year ended March 31, 2013 toRs. 721349.50 million for the year ended March 31, 2014.
Ballarpur Industries temporarily shuts down unit at Andhra Pradesh
Ballarpur Industries has temporarily shut down Kamalapuram Unit, situated at Township - SO, District Warangal, Andhra Pradesh, due to adverse global and Indian market conditions of Rayon Grade Pulp/Viscose Staple Fibre.
Ballarpur Industries is engaged in manufacturing of wide range of papers such as coated wood free, uncoated wood free, copy paper, packaging, business stationery, industrial grades and speciality and fine paper.
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HCL Technologies gains on the buzz of 500 million deal from Pepsico
HCL Technologies is currently trading at Rs 1318.00, up by 10.50 points or 0.80% from its previous closing of Rs 1307.50 on the BSE.
The scrip opened at Rs 1323.00 and has touched a high and low of Rs 1350.00 and Rs 1311.35 respectively. So far 7498 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs 1588.65 on 28-Feb-2014 and a 52 week low of Rs 721.00 on 06-Jun-2013.
Last one week high and low of the scrip stood at Rs 1445.55 and Rs 1257.00 respectively. The current market cap of the company is Rs 91482.81 crore.
The promoters holding in the company stood at 61.69% while Institutions and Non-Institutions held 32.28% and 6.03% respectively.
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.
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Sundaram MF introduces Fixed Term Plan -GG (366 Days)
Sundaram Mutual Fund has launched the New Fund Offer (NFO) of Sundaram Fixed Term Plan -GG (366 Days), a close ended income scheme. The NFO opens for subscription on May 21, 2014 and closes on May 26, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000.
The scheme’s performance will be benchmarked against Crisil Short Term Bond Fund Index and its fund manager is Sandeep Agarwal.
The investment objective of the scheme is to generate income with minimum volatility by investing in debt and money market securities, which mature on or before the maturity of the scheme.
Copper futures decline on demand concerns
Copper futures declined on Tuesday on worries regarding demand from the world’s top copper consumer China. However, the efforts by China to quicken the pace of reforms to support growth in the world's second-biggest economy, capped some losses in copper prices to some extent.
Copper futures for July delivery fell 0.7% to settle at $3.145 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed down 0.58% to $6,885 a metric ton.
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DHFL eyes 20-25% growth in its disbursements this year
Dewan Housing Finance Corporation (DHFL) is targeting to achieve 20-25% growth in its disbursements this year. The company had disbursed Rs 16,600 crore in 2013-14.
In Kerala, it had disbursed Rs 775 crore last fiscal and is eyeing a 20% growth this year. Moreover, the company’s customer base in Kerala stood at 7,801, of which 22% are women, the highest in the country.
The company would encourage women customers to buy their own homes, with a 0.25% waiver on processing fees and interest waiver and would focus on low and middle income and affordable housing.
Further, the company launched a new branch at Thiruvananthapuram and three service centers at Kollam, Thodupuzha and Pathnamthitta. It is also planning two more branches at Kalpetta and Tirur.
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J Kumar Infraprojects bags various orders worth Rs 467.51 crore
J Kumar Infraprojects has bagged various orders worth Rs 467.51 crore from various authorities. The company has bagged order for W266 concreting of various roads in Western Suburbs worth Rs 204.94 crore. The company has also bagged an order worth Rs 109.26 crore for design and construction Flyover Grade Separator with All Allied Work Including Shifting of Utilities at KSB Chowk. The company has bagged construction of Bridge Over Mulla River Near Balewadi Survey No.46/47 Pune worth Rs 31.45 crore.
Besides, it has bagged order for construction of ROB at Jogeshwari (South) in lieu of L.C. No. 24 & 25 enhanced from Rs 198.24 crore to Rs. 298.10 crore i.e. Rs 99.86 crore of worth work increased. Finally, the company has bagged other work from various client worth Rs 22.00 crore.
J Kumar Infraprojects is engaged in the business of civil engineering construction contractors in Infrastructural projects mainly in roads, flyovers, bridges, commercial and residential buildings, sports complexes, irrigation projects, airport contracts. The company also undertakes the piling of foundation work using hydraulic piling rigs for major projects which are awarded to other contractors.
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