Kotak Mahindra Bank gains on plan to trim promoter shareholding to 40%

Kotak Mahindra Bank is currently trading at Rs 865.00, up by 1.55 points or 0.18% from its previous closing of Rs. 863.45 on the BSE. The scrip opened at Rs 862.00 and has touched a high and low of Rs 872.40 and Rs 850.60 respectively. So far 29373 shares were traded on the counter. The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 950.00 on 16-May-2014 and a 52 week low of Rs. 588.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 924.00 and Rs 850.65 respectively. The current market cap of the company is Rs 66442.72 crore. The promoters holding in the company stood at 43.58% while Institutions and Non-Institutions held 33.53% and 22.73% respectively. Kotak Mahindra Bank has been directed by the Reserve Bank of India (RBI) to bring down its promoter shareholding to 40% by September 30, 2014 per estimates provided by the bank. The next estimate is 30% by December 31, 2016. The current promoter shareholding in the bank is 43.58%. Kotak Mahindra Finance is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank. Today, the bank is one of the fastest growing bank and among the most admired financial institutions in India.

SSIII Indian Investments sells 60 lakh shares of Oberoi Realty

SSIII Indian Investments Two has offloaded 60 lakh shares of Oberoi Realty through the open market route. The shares were sold on an average price of Rs 230.61 valuing the transaction to Rs 138.37 crore. On the other hand, Morgan Stanley Asia (Singapore) picked up 38.71 lakh shares of the real-estate firm for Rs 89.03 crore.

Oberoi Realty is India’s leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals. Oberoi Realty has an established brand and a track record in the real estate industry of developing innovative projects through its emphasis on contemporary architecture, strong project execution and quality construction.

Aditya Birla Nuvo to invest Rs 350 crore in financial services in FY15

Aditya Birla Nuvo (ABNL) is planning to invest Rs 350 crore in its financial services business in the current fiscal. The company has earmarked a capital expenditure plan of around Rs 460 crore for 2014-15.

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.

Gail India slips despite reporting 57% rise in Q4 net profit

GAIL (India) is currently trading at Rs. 379.95, down by 30.10 points or 7.34% from its previous closing of Rs. 410.05 on the BSE. The scrip opened at Rs. 403.00 and has touched a high and low of Rs. 403.00 and Rs. 378.30 respectively. So far 255031 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 439.00 on 26-May-2014 and a 52 week low of Rs. 273.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 439.00 and Rs. 400.00 respectively. The current market cap of the company is Rs. 48202.14 crore. The promoters holding in the company stood at 56.11 % while Institutions and Non-Institutions held 40.09 % and 2.40 % respectively. Gail (India) has reported a rise of 57.24% in its net profit at Rs 972.03 crore for fourth quarter and year ended March 31, 2014 as compared to Rs 618.18 crore for the same quarter in the previous year. Total income of the company increased by 17.56% at Rs 14977.89 crore for quarter under review as compared to Rs 12740.29 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 8.77% in its net profit at Rs 4375.27 crore as compared to Rs 4022.20 crore for the same period in the previous year. Total income of company improved by 25.95% at Rs 58406.45 crore for year under review as compared to Rs 48287.20 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 9.43% in its net profit at Rs 4786.22 crore as compared to Rs 4373.60 crore for the same period in the previous year. Total income of company has increased by 21.01% at Rs 62836.52 crore for year under review as compared to Rs 51923.71 crore for the period ended March 31, 2013.

Moody's: Proposed bank resolution regime could raise risk for Indian bank creditors

Moody's could lower its assumption of government support for all categories of bank securities, including senior unsecured debt. Moody's Investors Service says that modifications to India's bank resolution framework, if implemented as recommended, could increase risks for many creditors of Indian banks, including holders of both senior and subordinated debt. At the same time, while it is too early to form any definitive conclusions, in the event of implementation, Moody's could lower its assumption of government support for all categories of bank securities, including senior unsecured debt. In addition, there could be a significant differentiation between bank senior unsecured debt and deposit ratings resulting from the principle of depositor preference, as currently defined under the proposal. Moody's made its conclusions in a just-released report, titled: "Potential changes to India's bank resolution framework could increase risks for creditors". The report was authored by Gene Fang and Srikanth Vadlamani, both Vice Presidents and Senior Analysts. Moody's notes that while depositor preference is usually only applied to natural persons and not legal persons, the scope of the proposed modifications extends depositor preference significantly beyond what is usual, for example, to the coverage of interbank deposits. Such a policy could be credit negative for other senior unsecured creditors should it place a very large percentage of liabilities ahead of them in the queue in the event of insolvency. At the same time, the proposed changes would not necessarily eliminate the probability of support completely for those other senior unsecured creditors. Normally, resolution authorities reserve the right to choose resolution tools aside from bail-in to avoid the systemic risks of contagion. Moody's report also notes that the Working Group recommends that losses should be imposed in an "ownership neutral" fashion, which would preclude different treatment of public-sector and private-sector banks. The Working Group released its recommendations on May 2 and not only does the initial comment period continue until 31 May, implementation will also require establishing new regulatory bodies and legal framework, which will inevitably involve a complex and lengthy process. Accordingly, Moody's emphasizes that its conclusions about the potential impact are only preliminary and inherently subject to the details of any changes that actually occur.

CARE withdraws rating assigned to long-term debt of Edelweiss Financial Services

CARE has withdrawn the rating assigned to the long-term debt of Rs 50 crore of Edelweiss Financial Services, with immediate effect, as the company has not raised any amount against the instrument and there is no amount outstanding against the instrument as on date. Edelweiss Financial Services is India’s leading diversified financial services company. It is engaged in the business of investment banking, brokerage services, asset management and financing.

Wipro moves up on the bourses

Wipro is currently trading at Rs. 510.40, up by 5.85 points or 1.16% from its previous closing of Rs. 504.55 on the BSE. The scrip opened at Rs. 509.00 and has touched a high and low of Rs. 518.05 and Rs. 506.00 respectively. So far 123639 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 610.50 on 26-Feb-2014 and a 52 week low of Rs. 315.30 on 31-May-2013. Last one week high and low of the scrip stood at Rs. 508.50 and Rs. 480.95 respectively. The current market cap of the company is Rs. 125945.09 crore. The promoters holding in the company stood at 73.47% while Institutions and Non-Institutions held 13.62% and 10.97% respectively. Wipro, a leading Global Information Technology, Consulting and Outsourcing company, has launched its ‘Finance and Accounting Business-Process-as-a-Service’ (F&A BPaaS) solution for enterprises.  This solution is developed in partnership with NetSuite, the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, Wipro’s F&A BPaaS is a comprehensive, end-to-end business process solution that can help improve business agility, user experience and process efficiency. Wipro’s F&A BPaaS is built on the industry leading NetSuite platform, along with best-in-class Wipro process capabilities in finance and accounting. The solution empowers customers to selectively manage and control their finance and accounting processes on a standardized platform, in a 100% variabilized cost model. It also enables rapid implementation of business processes, improves compliance standards, and provides operational readiness, leading to significant cost savings. Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.

Diageo gets SEBI’s nod for open offer to acquire 26% stake in United Spirits

Securities and Exchange Board of India (SEBI) has given nod to Global liquor giant Diageo Plc for its open offer to acquire additional 26 per cent stake in United Spirits (USL) for Rs 11,448.91 crore. SEBI issued final observations, necessary for the offer and the deal as a whole to go through, on May 21. This is the second open offer made by Diageo to gain majority control in India’s number one liquor firm. As part of the deal to buy 53.4 per cent stake in Vijay Mallya-led UB group’s USL, Diageo has made a Rs 11,448.91-crore open offer for purchase of 26 per cent stake in the company from non-promoter shareholders. The global liquor giant would pay Rs 3,030 per share of USL, which is more than double the price of Rs 1,440 per share it offered in the previous bid last year. United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.

Cotton futures exhibit mixed trend on MCX

Cotton futures exhibited mixed trend on MCX as May contracts traded down as speculators reduced their holdings on the back of slow buying of mills. While June contracts traded high on account of increased demand at the spot market along with expectations of higher exports.

The contract for May delivery was trading at Rs 19160.00, down by 0.05% or Rs 10.00 from its previous closing of Rs 19170.00. The open interest of the contract stood at 1740.00 lots.

The contract for June delivery was trading at Rs 19490.00, up by 0.05% or Rs 10.00 from its previous closing of Rs 19480.00. The open interest of the contract stood at 5747.00 lots on MCX.

Turmeric futures trade lower on subdued demand

Turmeric futures traded lower on NCDEX as speculators indulged in reducing exposures due to subdued demand against adequate supplies from producing belts. Further, arrival of poor quality Turmeric as well as sluggish North Indian demand also weighed on the yellow spice's prices.

The contract for June delivery was trading at Rs 6100.00, down by 1.42% or Rs 88.00 from its previous closing of Rs 6188.00. The open interest of the contract stood at 13405.00 lots.

The contract for July delivery was trading at Rs 6250.00, down by 1.51% or Rs 96.00 from its previous closing of Rs 6346.00. The open interest of the contract stood at 2705.00 lots on NCDEX.

Chana futures edge lower on NCDEX

Chana futures traded down on NCDEX due to estimation of higher output from the major producing belts. Further, poor quality arrivals amidst lack of demand from millers too influenced chana prices. The contract for June delivery was trading at Rs 2808.00, down by 1.47% or Rs 42.00 from its previous closing of Rs 2850.00. The open interest of the contract stood at 124920 lots. The contract for July delivery was trading at Rs 2881.00, down by 1.34% or Rs 39.00 from its previous closing of Rs 2920.00. The open interest of the contract stood at 102980 lots on NCDEX.

Ashoka Buildcon commences Toll collection at Pimpalgaon-Nasik-Gonde Road Project

Ashoka Buildcon has started the Toll collection on May 23, 2014 for 55.161 km including elevated section of 5.7 KMs, for Pimpalgaon-Nasik-Gonde Road Project of National Highways Authority of India (NHAI).

The Project viz. Designing, Engineering, Financing, Procurement, Construction, Operation and Maintenance of Six Laning of Pimpalgaon-Nasik-Gonde Section of NH - 3 From Km. 380.000 to Km 440.000 in the State of Maharashtra under NHDP Phase - 111A BOT Toll Basis, is executed by PNG Tollway  whereof Ashoka Concessions, Company's Subsidiary, is 26% equity shareholder.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.

SBI declares dividend under Arbitrage Opportunities Fund

SBI (MF) has declared dividend under the dividend option of regular plan & direct plan of SBI Arbitrage Opportunities Fund. The record date for dividend is May 30, 2014. The quantum of dividend will be Rs 0.07 per unit under each plan as on record date on the face value of Rs 10 per unit.

Benchmarks trade near intra-day low level in late morning

Indian equity benchmarks continued to trade near intra-day low level on account of Profit booking in frontline blue chip stocks after a recent rally. Sentiment weakened further as foreign institutional investors (FIIs) sold shares worth a net Rs 84.13 crore on May 26, 2014. Traders were seen piling positions in IT, Teck and Healthcare stocks while selling was witnessed in Realty, Power and PSU sector stocks. In scrip specific development, Gail India was trading lower by 6% after reporting a lower than expected net profit at Rs 972 crore for the fourth quarter ended March 31, 2014. Moreover, Jaypee Infratech has slipped by 10% after net profit slumped 91.12% to Rs 13.19 crore in Q4 March 2014 over Q4 March 2013. However, Sonata Software has rallied 13% after reporting over three-fold jump in consolidated net profit at Rs 23.57 crore for the fourth quarter ended March 31, 2014.  On the global front, the Asian markets were trading mostly lower as tensions flared between China and Vietnam though hopes for further monetary easing in Europe helped push Japan's benchmark to its highest level in six weeks. However, European shares had ended higher as investors reacted to the results of European parliament elections and presidential elections in Ukraine. Back home, Indian rupee was trading lower against the US dollar at Rs 58.96 tracking weakness in equities. Moreover, Bharat Forge, Bombay Dyeing, Dish TV India, Jindal Hotels and JSW Steel will be in focus on account of March quarter earnings announcement. The market breadth on BSE was negative, out of 2271 stocks traded, 745 stocks advanced, while 1450 stocks declined on the BSE. The BSE Sensex is currently trading at 24513.61 down by 203.27 points or 0.82% after trading in a range of 24777.31 and 24505.07. There were 9 stocks advancing against 21 stocks declining on the index. The broader indices were trading in red; the BSE Mid cap index was down by 1.57%, while Small cap index down by 1.52%. The top gaining sectoral indices on the BSE were, IT up by 1.32%, Teck up by 0.78%, Healthcare up by 0.41% and FMCG up by 0.07%, while Realty down by 3.60%, Power down by 3.11%, PSU down by 3.08%, Oil & Gas down by 2.55% and Metal down by 2.09% were the top losers on the sectoral index. The top gainers on the Sensex were Wipro up by 2.10%, Infosys up by 1.70%, Dr Reddys Lab up by 0.49%, TCS up by 0.43% and Hero MotoCorp up by 0.42%. On the flip side, Gail India was down by 6.87%,  BHEL was down by 4.61%, SSLT was down by 4.37%, ONGC was down by 3.15% and NTPC was down by 3.07% were the top losers on the Sensex. Meanwhile, the Reserve Bank of India (RBI) has tightened merger rules for non-banking finance companies, requiring them to obtain the RBI’s written permission to acquire or merge with any similar entity, in order to ensure their fit and proper management. Previously, only deposit-taking non-bank finance companies required approval for a takeover or merger. But, this directive, to be known as 'Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014, would be applicable to every non-banking financial company, i.e. deposit taking or a non-deposit taking NBFC. According to the RBI, any merger or amalgamation of an NBFC with another entity or an entity with an NBFC that would give the acquirer or another entity control of the NBFC will need its written approval, before the permissions of court or tribunal for mergers or amalgamations with other companies or NBFCs. However, RBI clarified that its prior approval would not be required in case where NBFC is acquiring less than 10% of another entity. Further, it also brought to the notice of the prospective acquirers of NBFCs that acquisition of shares/ takeover of an NBFC without its prior approval shall result in adverse regulatory action by the Reserve Bank, including, cancellation of Certificate of Registration of the concerned NBFC. The CNX Nifty is currently trading at 7,300.30 down by 58.75 points or 0.80% after trading in a range of 7,372.95 and 7,298.45. There were 18 stocks advancing against 32 declining on the index. The top gainers of the Nifty were HCL Tech up by 2.51%, Wipro up by 1.78%, Infosys up by 1.69 %, UltraTech Cement up by 1.61% and Tech Mahindra up by 1.58%. On the flip side, Gail down by 7.01%, BHEL down by 4.94%, SSLT down by 4.64%, IDFC down by 4.10% and ONGC down by 3.52% were the top losers on the index. Most of the Asian equity indices were trading in red; Shanghai Composite slipped 0.25%, Hang Seng dropped by 0.20%, Jakarta Composite tumbled 0.18%, Straits Times shed by 0.17% and Straits Composite was down by 0.17%. On the flip side, KLSE Composite gained 0.16%, Nikkei 225 spurted by 0.79% and Taiwan Weighted was up by 0.16%.

Sensex, Nifty pare losses

Some buying activity is seen in IT and healthcare sectors on BSE, while banking, capital goods, oil & gas, metal and auto sectors are showing weakness

11:38AM: The BSE Sensex is trading down 155 points at 24,561, while S&P Nifty is trading down 45 points at 7,314. BSE Mid-cap is down 1.20% at 8,383, while BSE Small-cap is down 1.62% at 8,779. Some buying activity is seen in IT and healthcare sectors on BSE, while banking, capital goods, oil & gas, metal and auto sectors are showing weakness. Infosys, L&T, Wipro, Tata Steel and Dr Reddy's Lab are among the gainers, whereas Gail, BHEL, M&M, ONGC, NTPC and SSLT are losing sheen on BSE.

Jindal Stainless strengthens on developing smokeless stainless steel stove

Jindal Stainless is currently trading at Rs. 47.65, up by 1.00 points or 2.14% from its previous closing of Rs. 46.65 on the BSE. The scrip opened at Rs. 46.50 and has touched a high and low of Rs. 48.50 and Rs. 46.40 respectively. So far 44286 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 60.00 on 29-May-2013 and a 52 week low of Rs. 31.45 on 04-Mar-2014. Last one week high and low of the scrip stood at Rs. 55.00 and Rs. 41.15 respectively. The current market cap of the company is Rs. 1012.26 crore. The promoters holding in the company stood at 45.86% while Institutions and Non-Institutions held 29.06% and 16.91% respectively. Jindal Stainless has developed a smokeless stainless steel stove in collaboration with The Energy and Resources Institute (TERI). This step taken by the company is a significant step towards reducing carbon footprints. The maintenance free gas stove is priced at Rs 3,200 and being marketed by TERI. The stove, made up of a mix of 200 and 300 series stainless steel, ensures high reduction in toxic emissions during cooking and has longer life and better corrosion resistance in adverse village environment. Jindal Stainless manufactures stainless steel slabs, blooms, hot rolled and cold rolled coils, 60% of which are exported worldwide. It has a stainless steel making facility at Hissar and a ferro alloy plant at Vizag.

Vardhman Textiles trades in green on the BSE

Vardhman Textiles is currently trading at Rs. 363.00, up by 1.50 points or 0.41% from its previous closing of Rs. 361.50 on the BSE. The scrip opened at Rs. 362.00 and has touched a high and low of Rs. 375.00 and Rs. 358.65 respectively. So far 40330 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 410.25 on 22-Nov-2013 and a 52 week low of Rs. 241.00 on 27-May-2013. Last one week high and low of the scrip stood at Rs. 389.00 and Rs. 333.00 respectively. The current market cap of the company is Rs. 2298.15 crore. The promoters holding in the company stood at 61.85% while Institutions and Non-Institutions held 23.38% and 14.77% respectively. Vardhman Textiles has reported the production and sales details of the company for fourth quarter of current financial year under Yarn, Grey Fabric and Processed Fabric segment. Under Yarn segment, the Production stood at 44,238 metric tonnes in Q4FY13-14 while Sales (including Internal Transfers) stood at 40427 metric tonnes for the same period. In Grey Fabric segment, the Production stood at 439 lakh meters in Q4FY13-14 while Sales (including Internal Transfers) stood at 411 lakh meters. Similarly, under Processed Fabric segment, the Production stood at 265 lakh meters in Q4FY13-14 while Sales (including Internal Transfers) stood at 271 lakh meters for the same period. Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.

SBI declares dividend under Arbitrage Opportunities Fund

SBI (MF) has declared dividend under the dividend option of regular plan & direct plan of SBI Arbitrage Opportunities Fund. The record date for dividend is May 30, 2014. The quantum of dividend will be Rs 0.07 per unit under each plan as on record date on the face value of Rs 10 per unit.

Sugar futures edge lower on ample stocks

Sugar futures traded down on NCDEX due to large spot supplies and weak spot demand. Further, continuous selling by producers and slack retail demand amid ample stocks kept overall sentiment weak in future trade.

The contract for June delivery was trading at Rs 2977.00, down by 0.67% or Rs 20.00 from its previous closing of Rs 2997.00. The open interest of the contract stood at 43530.00 lots.

The contract for July delivery was trading at Rs 2967.00, down by 0.50% or Rs 15.00 from its previous closing of Rs 2982.00. The open interest of the contract stood at 25930.00 lots on NCDEX.

CARE assigns ‘BBB-’, ‘A3’ ratings to SE Power’s bank facilities

Credit rating agency, CARE has assigned ‘BBB-’ rating to long term bank facilities worth Rs 35.12 crore of SE Power. The rating agency has also assigned ‘A3’ rating to the company’s short term bank facilities worth Rs 2.52 crore. The ratings of the bank facilities of the company derives strength from its experienced and resourceful promoters, long track record of the group and moderate financial risk profile of the company as on March 31, 2014. SE Power engaged in the business of producing, manufacturing, generating, supplying, distributing, transforming, converting, transmitting, processing, developing, storing, procuring all forms of power and energy and any such products and by- products derived from such business.

Euro Finmart gains on plan of diversifying its business into e-governance space

Euro Finmart is currently trading at Rs. 96.35, up by 0.35 points or 0.36% from its previous closing of Rs. 96.00 on the BSE. The scrip opened at Rs. 96.10 and has touched a high and low of Rs. 97.50 and Rs. 95.70 respectively. So far 9452 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 157.25 on 13-Dec-2013 and a 52 week low of Rs. 50.00 on 17-Sep-2013. Last one week high and low of the scrip stood at Rs. 98.70 and Rs. 95.10 respectively. The current market cap of the company is Rs. 46.71 crore. The promoters holding in the company stood at 3.30 % while Institutions and Non-Institutions held 0.03 % and 96.67 % respectively. Euro Finmart has received an approval to diversify its business into e-governance related projects and services thereby considered the change in main objects of the company subject to the approval of shareholders by postal ballot. The board of directors at its meeting held on May 26, 2014 has approved for the same. The board also approved to increase the authorized share capital of the company from Rs 5 crore to Rs 10 crore subject to the approval of shareholders in AGM. Euro Finmart was incorporated for setting up gold Jewellery Manufacturing unit at Noida Export Processing Zone, Noida at Uttar Pradesh in phased manner.

IFCI sells 2.79% stake in Orbit Corporation

IFCI has sold over three million shares of Orbit Corporation in past one week through open market. The state-run lender has offloaded 3.18 million shares representing 2.79% stake of realty firm for Rs 7.5 crore between May 19 and May 26.

On May 26, 2014 IFCI sold 735,000 shares of Orbit Corporation at Rs 23.45 on the NSE. On May 23, it sold 1.09 million shares at Rs 25.25 on the NSE.

Orbit Corporation is a leading Mumbai real estate developer focused on luxury real estate development in South Mumbai.

Somany Ceramics gains on targeting 20% plus revenue growth in FY15

Somany Ceramics is currently trading at Rs. 227.00, up by 2.60 points or 1.16 % from its previous closing of Rs. 224.40 on the BSE. The scrip opened at Rs. 225.00 and has touched a high and low of Rs. 229.80 and Rs. 208.00 respectively. So far 2224 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 230.00 on 23-May-2014 and a 52 week low of Rs. 65.30 on 31-Jul-2013. Last one week high and low of the scrip stood at Rs. 230.00 and Rs. 201.75 respectively. The current market cap of the company is Rs. 862.36 crore. The promoters holding in the company stood at 56.22 % while Institutions and Non-Institutions held 7.12 % and 36.66 % respectively. Somany Ceramics has got aggressive plans with an eye on 20% plus revenue growth in FY15. The company has a planned a capex of Rs 40-50 crore, which will be funded by debt and internal accruals. Overall, the company is looking at 10 million square meters of expansion. Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.

Mentha Oil futures trade higher on strong demand

Mentha Oil futures traded up on MCX as speculators created fresh positions driven by firming trend at spot market on strong demand from consuming industries against lower arrivals from the major producing belts. 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 832.50, up by 0.41% or Rs 3.40 from its previous closing of Rs 829.10. The open interest of the contract stood at 1301 lots.

The contract for June delivery was trading at Rs 844.00, up by 0.36% or Rs 3.00 from its previous closing of Rs 841.00. The open interest of the contract stood at 2723 lots on MCX. 

Cardamom futures edge lower on slack demand

Cardamom futures traded lower on MCX due to slack demand in hopes of an early crop following summer rains. Further, ample stocks positions in the physical market too added pressure on cardamom prices.

The contract for June delivery was trading at Rs 962.10/Kg, down by 0.35% or Rs 3.40 from its previous closing of Rs 965.50/Kg. The open interest of the contract stood at 2124 lots.

The contract for July delivery was trading at Rs 942.70/Kg, down by 0.57% or Rs 5.40 from its previous closing of Rs 948.10/Kg. The open interest of the contract stood at 1307 lots on MCX.

Venus Remedies gains on securing additional patent for Vancoplus from USPTO

Venus Remedies is currently trading at Rs. 294.20, up by 1.30 points or 0.44% from its previous closing of Rs. 292.90 on the BSE. The scrip opened at Rs. 299.00 and has touched a high and low of Rs. 302.80 and Rs. 293.50 respectively. So far 3173 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 350.00 on 28-Apr-2014 and a 52 week low of Rs. 140.00 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 324.80 and Rs. 290.20 respectively. The current market cap of the company is Rs. 341.71 crore. The promoters holding in the company stood at 43.99% while Institutions and Non-Institutions held 8.75% and 47.26% respectively. Venus Remedies has bagged additional patent for Vancoplus from USPTO. Vancoplus is an antibiotic adjuvant entity effective in one the most deadly resistance by Methicillin Resistant Staphylococcus Aureus (MRSA). Developed by the Venus Medicine Research Centre (VMRC), the R&D wing of Venus Remedies, Vancoplus is the only solution till date for MRSA with more than 9 per cent of success rate. The patent is valid till 2032. The company has already initiated process for pre IND meeting with US FDA and is quite optimistic to get fast track approval for this product because MRSA is under the list of limited pathogens identified under GAIN act by FDA and Vancoplus falls in that OIDP category. Venus Remedies already has product patent for Vancoplus from US PTO, this additional patent with broader coverage for use and method of treatment will be beneficial for the company. The formulation will be commercialized in the US market through technology transfer/outlicensing of exclusive marketing rights route and we are open for such deals. Venus Remedies is a pharmaceutical manufacturing company. The company provides formulations in area of antibiotics and oncological therapeutics. The company has two manufacturing facilities located in India and Germany. It manufactures Oncological and Cefelosporine Injectable products.

L&T Finance Holdings’ arm inaugurates new branch in Coimbatore

L&T Finance Holdings’ wholly-owned subsidiary - L&T Finance has opened full-fledged branch on Bharathiyar Road in Coimbatore.  With this, the number of branches in Tamil Nadu stands at 16. The company is also planning to add another 4-5 branches in the state by the end of this year.

L&T Finance, which offers a wide spectrum of financial products and services for trade, industry and agriculture, is looking to further expand its base in rural retail financing.

India Cements to merge with its subsidiary

As a part of their restructuring plan, India Cements is planning to merge with its subsidiary Trinetra Cement. The company is also planning to sell large portions of land near their plants in Tamil Nadu and Andhra Pradesh, along with looking at real estate development. The merger of Trinetra Cement and Trishul Concrete Products with India Cements will bring operations under one company. Post merger, the total capacity of India Cements would go up to 15.8 million tonnes. From a two plant company with the capacity of just 1.3 million tonnes in 1989, in the last two decades India Cements’ total capacity increased to 15.5 million tonnes per annum. It has seven integrated cement plants in Tamil Nadu and Andhra Pradesh, one in Rajasthan (through its subsidiary, Trinetra Cement) and two grinding units, one each in Tamil Nadu and Maharashtra. India Cements is largest manufacturer of cement in South India. India Cements owns 28% of the market share and is leader in south India. The cement manufacturer aims 35% market share. It has distribution network of 10,000 stockists.

HDIL aims to lower debt by 20% to Rs 2500 crore by year-end

Housing Development and Infrastructure (HDIL) targets 20 percent debt reduction by this year end after which its consolidated debt is likely to come down to Rs 2500 crore. The company has received full payment from Adani Enterprises for its Andheri (West) project, which helped in curtailing debt by Rs 250 crore.

HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).

India’s current account deficit narrows to 0.2% of GDP in Q4 FY14

In a big sigh of relief to Indian policymakers concerned over the deteriorating macro-economic indicators of the country, Indian Current Account Deficit (CAD) narrowed sharply to $1.2 billion, or 0.2 percent of GDP in the January-March quarter of FY14 as compared to $18.1 billion, or 3.6 percent of GDP in the same quarter of previous fiscal. The contraction in CAD was mainly driven by significantly narrowing in trade deficit, coupled with a rise in net invisibles' receipts. During the financial year 14, India's current account deficit (CAD) sharply narrowed to 1.7 percent of GDP or $32.4 billion from $87.8 billion, or 4.7 percent of GDP in FY13. Trade deficit during the financial year 2014 contracted significantly to $138.59 billion as compared to $190.34 billion in the FY13 mainly on the back of declined imports particularly gold imports and growth witnessed in country’s overall exports. Gold and silver imports fell by 40.02% to $33.46 billion in FY14 due to the stern Government’s norms like high customs duty of 10% and existing 80/20 rule under which 20% of all gold imports by importers has to be re-exported. The net inflows declined to $48.8 billion during FY14 against $89 billion in FY13 mainly due to lower foreign direct investment flows, net repayment of loans and trade credit and advances. The balance of payment (BoP) increased to $15.5 billion in FY14 up from $3.83 billion in FY13. Current account deficit (CAD), which represents the difference between a country's total imports of goods, services and transfers and their exports, is a key indicator of a country’s external vulnerability. A widening CAD usually exerts downward pressure on the domestic currency, making imports costlier. The improvement in CAD in the last financial year is likely to continue in the new fiscal year mainly on the back of narrowing trade deficit.

RBI tweaks M&A norms for NBFCs

The Reserve Bank of India (RBI) has tightened merger rules for non-banking finance companies, requiring them to obtain the RBI’s written permission to acquire or merge with any similar entity, in order to ensure their fit and proper management. Previously, only deposit-taking non-bank finance companies required approval for a takeover or merger. But, this directive, to be known as 'Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014, would be applicable to every non-banking financial company, i.e. deposit taking or a non-deposit taking NBFC. According to the RBI, any merger or amalgamation of an NBFC with another entity or an entity with an NBFC that would give the acquirer or another entity control of the NBFC will need its written approval, before the permissions of court or tribunal for mergers or amalgamations with other companies or NBFCs. However, RBI clarified that its prior approval would not be required in case where NBFC is acquiring less than 10% of another entity. Further, it also brought to the notice of the prospective acquirers of NBFCs that acquisition of shares/ takeover of an NBFC without its prior approval shall result in adverse regulatory action by the Reserve Bank, including, cancellation of Certificate of Registration of the concerned NBFC.

Canara Bank plans to open 1,250 new branches in current fiscal

Canara Bank is planning to open 1,250 new branches this fiscal, expects new branches to make a turnaround in one-two years. For setting up new branches, the bank’s emphasis will be on rural, semi-urban areas than urban/metropolitan regions. This is because of lower real estate prices and cost of operations. The bank, during fiscal 2013-14, opened 1,027 branches, taking the total branch network to 4,755, including five overseas branches. 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.

KEC International surges on winning orders worth Rs 437 crore

KEC International is currently trading at Rs. 122.00, up by 2.20 points or 1.84% from its previous closing of Rs. 119.80 on the BSE. The scrip opened at Rs. 125.30 and has touched a high and low of Rs. 129.90 and Rs. 121.20 respectively. So far 56465 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 129.90 on 27-May-2014 and a 52 week low of Rs. 23.25 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 129.90 and Rs. 101.90 respectively. The current market cap of the company is Rs. 3212.32 crore. The promoters holding in the company stood at 49.41% while Institutions and Non-Institutions held 35.84% and 14.75% respectively. KEC International (KEC), a global infrastructure EPC major, an RPG Group company has secured new orders worth Rs 437 crore in its Transmission and Cables businesses. In Transmission and Distribution Businesses, the Company has secured orders in UAE, Oman, Kenya and the Americas amounting to Rs 373 crore. In Cables Business, the Company has secured orders for the supply of Power and Telecom Cables. The total value of these orders is Rs 64 crore. In UAE, the company has secured an order for modification of 220kV and construction of new 400 kV double circuit transmission line. The order is secured from the Abu Dhabi Transmission & Dispatch Company (TRANSCO) and the order value is Rs 267 crore. In Oman, the company has secured an order for construction of 132/33 kV grid station and associated transmission line. The order value is Rs 47 crore. In Kenya, the company has secured an order for supply and installation of 220 kV transmission line and bay extension. The order is secured from Kenya Electricity Generating Company (KenGen) and the order value is Rs 9 crore. In Americas, SAE Towers, the wholly owned subsidiary of the Company has secured orders for the supply of lattice towers, monopoles and hardware from the United States, Brazil and Mexico. The total value of orders is Rs 50 crore ($ 8.1 million). KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of power transmission, power systems, cables, railways, telecom and water.

Jain Irrigation inks pact with Coca Cola to scale up mango production

Jain Irrigation has inked a pact with Beverages player Coca Cola’s bottling arm in India to scale up their initiative for mango production, targeting the involvement of 25,000 farmers and entailing an investment of Rs 50 crore over 10 years. Under the second phase of ‘Project Unnati’, Hindustan Coca-Cola Beverages (HCCBPL) and Jain Irrigation will identify nearly 25,000 farmers holding 50,000 acres and support them in adopting the Ultra High Density Plantation (UHDP) technology in mango farms. The first phase of the project was launched in 2011 with an investment of $2 million and has covered nearly 4,000 farmers till date. Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.

Trent inches up on mulling to launch different formats for Star Bazaar

Trent is currently trading at Rs. 1007.00, up by 0.30 points or 0.03% from its previous closing of Rs. 1006.70 on the BSE. The scrip opened at Rs. 1007.70 and has touched a high and low of Rs. 1019.50 and Rs. 1007.00 respectively. So far 620 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1339.80 on 31-Dec-2013 and a 52 week low of Rs. 902.00 on 01-Nov-2013. Last one week high and low of the scrip stood at Rs. 1041.50 and Rs. 975.00 respectively. The current market cap of the company is Rs. 3374.33 crore. The promoters holding in the company stood at 32.61% while Institutions and Non-Institutions held 36.46% and 30.93% respectively. Trent, which formed a venture for multi-brand retail with Tesco, is mulling to launch different formats including mid-sized stores, for -- Star Bazaar -- to achieve profitability faster. In this regard, the company has opened a smaller format called Star Daily in Pune, a convenience store that is doing very well. Moreover, the company is planning to launch a second such store shortly. At present, Star Bazaar has 12 hypermarket stores, each spread over 40,000-80,000 square feet. Trent Hypermarket (THL) operates the Star Bazaar retail business in India. Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.

Shelter Infra Projects gains on getting nod to invest Rs 1757.97 lakh in MJM Nirman

Shelter Infra Projects is currently trading at Rs. 18.35, up by 0.05 points or 0.27% from its previous closing of Rs. 18.30 on the BSE. The scrip opened at Rs. 19.20 and has touched a high and low of Rs. 19.20 and Rs. 18.35 respectively. So far 910 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 40.20 on 15-Oct-2013 and a 52 week low of Rs. 15.50 on 22-Apr-2014. Last one week high and low of the scrip stood at Rs. 19.30 and Rs. 16.75 respectively. The current market cap of the company is Rs. 6.55 crore. The promoters holding in the company stood at 55.50% while Institutions and Non-Institutions held 0.06% and 44.44% respectively. Shelter Infra Projects’ Board of directors at its meeting held on May 26, 2014, has approved the Investment of Rs 1757.97 lakhs by subscribing shares in MJM Nirman subject to the approval of Shareholders in General Meeting. Shelter Infra Projects is involved in major infrastructure projects in India. It has remained one of the leading companies, despite stiff competition. It has revolutionized the Indian construction industry. The company has an extensive customer base that includes government and institutional buyers, and contractors.

Somany Ceramics eyeing 20% plus revenue growth in FY15

Somany Ceramics has got aggressive plans with an eye on 20% plus revenue growth in FY15. The company has a planned a capex of Rs 40-50 crore, which will be funded by debt and internal accruals. Overall, the company is looking at 10 million square meters of expansion. Somany Ceramics is a pioneering manufacturer, supplier and exporter of Floor Tiles, Wall Tiles, Sanitary Ware including urinals, basins, etc. Somany strives to bring its customers floor, wall, vitrified, ceramic, porcelain and innovative tiles that are the very latest in the world.

Nitin Gadkari gets Road Transport and Highways Shipping

Mr Gadkari was appointed to head BJP in December 2009 after the party suffered a defeat in the general elections.

Nitin Gadkari  is an Indian politician and the current Transport minister under the BJP central cabinet in the 16th Loksabha. Mr Gadkari was appointed to head BJP in December 2009 after the party suffered a defeat in the general elections earlier that year. He is also known for the works during his tenure as a Public Works Department Minister in the state of Maharashta when he constructed a series of roads, highways and flyovers across the state including the Yashwantrao Chavan Mumbai–Pune Expressway. In 2012, following an RTI disclosure, a number of irregularities were discovered re: investments in the Purti group, which Gadkari had founded. It was widely reported that this may have been why he failed to be re-elected as BJP president in January 2013.[5] In May 2013, the Inome Tax department assessed the firm as having evaded Rs. 7 crores via improper means.[6] Currently, he is Member of the 16th Lok Sabha from Nagpur constituency. Nitin Gadkari [9] served as the Minister of Public Works Department(PWD) of the Government of Maharashtra from 1995 to 1999 and restructured it from top to bottom.He has served as the president of the Maharashtra BJP.Nitin Gadkari was seeking second term as Bhartiya Janta Party President but resigned from the post on 22 January 2013, due to irregularities in the firm Purti Group promoted by him.Many senior party leaders, such as Yashwant Sinha, were against the re-election of Nitin Gadkari.

Physical rubber prices improved on Monday

Physical rubber prices improved on Monday due to lower arrivals in the local trading houses. Spot prices for RSS-4 variety improved to Rs 150/ kg compared to its previous closing of Rs 148/ kg, while RSS-5 variety closed at Rs 146/ kg compared to its previous close of Rs 145.50/ kg. In the futures market, contract of June delivery increased to Rs 152.35 compared to its previous closing of Rs 150.17, while July delivery closed at Rs 153.53 compared to its previous close of Rs 151.75 on the National Multi Commodity Exchange (NMCE).

Asian markets mostly trade lower in early deals on Tuesday

Most of the Asian equity benchmarks are trading lower in the early deals on Tuesday, with investors looking for direction following a holiday in the US on Monday. Though some of the markets in the region saw modest gains early on in the session thanks to a positive lead from Europe, buying interest was somewhat subdued. Meanwhile, the Japanese stock market traded higher with investors indulging in some buying, tracking overnight gains in European markets. In the economy news, corporate service prices in Japan were up 3.4 percent on year in April, following the 0.7 percent increase in March. Among the individual components of the survey, prices were higher for communication, leasing, transportation, engineering and motor vehicle repair. Among other markets in the Asia-Pacific region, Hong Kong, Shanghai, Indonesia and Singapore are down marginally, while South Korea is notably lower. Malaysia and Taiwan are up slightly. Shanghai Composite slipped 4.44 points or 0.22% to 2,037.04, Hang Seng dropped by 45.65 points or 0.20% to 22,917.53, Jakarta Composite tumbled 9.13 points or 0.18% to 4,963.92, Straits Times shed by 6.78 points or 0.21% to 3,276.10 and Seoul Composite was down by 15.73 points or 0.78% to 1,994.62. On the flip side, KLSE Composite gained 3.05 points or 0.16% to 1,865.85, Nikkei 225 spurted by 108.88 points or 0.75% to 14,711.40 and Taiwan Weighted was up by 17.32 points or 0.19% to 9,053.44.

DHFL plans to expand its presence in Tamil Nadu, Kerala

Dewan Housing Finance Corporation (DHFL), India's second largest housing finance company in the private sector is planning to expand its presence in Tamil Nadu and Kerala by opening more branches. This new branches will help the company to cash in on the growing demand for housing loans in this region. Recently, the company had opened its new branch and three service centres in Kerala, where it has a market share of 25%. Dewan Housing Finance Corporation is one of the largest housing finance companies in India with the total asset size and loan portfolio of Rs 41,100 crore and Rs 37,849 crore respectively as on Dec. 31, 2013. The company’s target segment is primarily salaried individuals in lower and middle-income groups in Tier II and III cities.

Trent mulling to launch different formats for Star Bazaar

Trent, which formed a venture for multi-brand retail with Tesco, is mulling to launch different formats including mid-sized stores, for -- Star Bazaar -- to achieve profitability faster. In this regard, the company has opened a smaller format called Star Daily in Pune, a convenience store that is doing very well. Moreover, the company is planning to launch a second such store shortly. At present, Star Bazaar has 12 hypermarket stores, each spread over 40,000-80,000 square feet. Trent Hypermarket (THL) operates the Star Bazaar retail business in India. Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.

Copper futures climb on China growth expectations

Copper futures climbed on Monday on the speculation of faster economic growth in the world’s largest consumer of industrial metal, China after the country’s Premier Li Keqiang said the government will adjust policy to help the real economy. Further, continued declines in copper inventories too supported copper prices uptrend. Copper futures for July delivery rose 0.7% to settle at $3.189 a pound on the Comex metals division of New York Mercantile Exchange.

L&T’s arm enters into technology transfer agreement with JSW

Larsen & Toubro’s (L&T) subsidiary - L&T Special Steels and Heavy Forgings (LTSSHF) has entered into a technology transfer agreement with The Japan Steel Works (JSW) - an acknowledged world leader in the field of heavy steel forgings. The five year agreement covers transfer of critical technology for steel melting & heavy forgings made from ingots weighing up to 200 MT, for hydrocarbon, thermal power, steel & cement sectors. LTSSHF supplies critical heavy stainless steel & alloy steel forgings for high pressure reactors & heat exchangers, as well as rotors, shafts, forged slabs and special steels. Direct access to L&T’s jetties at Hazira facilitates exports across the globe. Indigenous manufacture of critical heavy forgings will close a vital gap in Indian industry’s capability to produce equipment for Core sectors. The new technology collaboration supports L&T’s commitment to remain at the forefront of manufacturing technology across key sectors. Over the years, L&T has introduced several new products & processes which have helped India make a mark on the global heavy industry landscape.

M&M launches new tractor model Swaraj 735 XT

Mahindra & Mahindra (M&M), the leading tractor provider in the state has launched its new tractor model Swaraj 735 XT, a 40 Horse Power (HP) tractor giving extra power, comfort and performance to customers. Last year, almost 98,000 units were sold in UP, which is now catching up with Punjab and Haryana as a market for higher HP capacity. Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

Modi's cabinet: The Official list

The President of India, as advised by the Prime Minister, has directed the allocation of portfolios among the following members of the Union Council of Ministers:-

The President of India, as advised by the Prime Minister, has  directed the allocation of portfolios among the following members of the Union Council of Ministers:-   1. Narendra Modi Prime Minister Personnel, Public Grievances and Pensions Department of Atomic Energy Department of Space All important policy issues and all other portfolios not allocated to any Minister   Cabinet Ministers   1. Raj Nath Singh Home Affairs   2. Smt. Sushma Swaraj External Affairs Overseas Indian Affairs   3. Arun Jaitley Finance Corporate Affairs Defence   4. M. Venkaiah Naidu Urban Development Housing and Urban Poverty Alleviation Parliamentary Affairs   5. Nitin Jairam Gadkari Road Transport and Highways Shipping   6. D.V. Sadananda Gowda Railways 7. SuUma Bharati Water Resources, River Development and Ganga Rejuvenation   8. Dr. Najma A. Heptulla Minority Affairs 9. Gopinathrao Munde Rural Development Panchayati Raj Drinking Water and Sanitation   10. Ramvilas Paswan Consumer Affairs, Food and Public Distribution   11. Kalraj Mishra Micro, Small and Medium Enterprises   12. Smt. Maneka Sanjay Gandhi Women and Child Development   13. Ananthkumar Chemicals and Fertilizers   14. Ravi Shankar Prasad Communications and Information Technology Law and Justice   15. Ashok Gajapathi Raju Pusapati   Civil Aviation 16. Anant Geete Heavy Industries and Public Enterprises   17. Smt. Harsimrat Kaur Badal Food Processing Industries   18. Narendra Singh Tomar Mines Steel Labour and Employment   19. Jual Oram Tribal Affairs   20. Radha Mohan Singh Agriculture   21. Thaawar Chand Gehlot Social Justice and Empowerment   22. Smt. Smriti Zubin Irani Human Resource Development   23. Dr. Harsh Vardhan Health and Family Welfare   Ministers of State   1. General V.K. Singh Development of North Eastern Region (Independent Charge) External Affairs Overseas Indian Affairs   2. Inderjit Singh Rao Planning (Independent Charge) Statistics and Programme Implementation (Independent Charge) Defence   3. Santosh Kumar Gangwar Textiles (Independent Charge) Parliamentary Affairs Water Resources, River Development and Ganga Rejuvenation   4. Shripad Yesso Naik Culture (Independent Charge) Tourism (Independent Charge)   5. Dharmendra Pradhan Petroleum and Natural Gas (Independent Charge)   6. Sarbananda Sonowal Skill Development, Entrepreneurship, Youth Affairs and Sports (Independent Charge)   7. Prakash Javadekar Information and Broadcasting (Independent Charge) Environment, Forest and Climate Change (Independent Charge) Parliamentary Affairs   8. Piyush Goyal Power (Independent  Charge) Coal (Independent Charge) New and Renewable Energy (Independent Charge)  9. Dr. Jitendra Singh Science and Technology (Independent Charge) Earth Sciences (Independent Charge) Prime Minister Office Personnel, Public Grievances & Pensions Department of Atomic Energy Department of Space   10. Smt. Nirmala Sitharaman Commerce and Industry (Independent Charge) Finance Corporate Affairs   11. G.M. Siddeshwara Civil Aviation   12. Manoj Sinha Railways   13. Nihalchand Chemicals and Fertilizers   14. Upendra Kushwaha Rural Development Panchayati Raj Drinking Water and Sanitation   15. Radhakrishnan P Heavy Industries and Public Enterprises   16. Kiren Rijiju Home Affairs   17. Krishan Pal Road Transport and Highways Shipping   18. Dr. Sanjeev Kumar Balyan Agriculture Food Processing Industries   19. Mansukhbhai Dhanjibhai Vasava   Tribal Affairs   20. Raosaheb Dadarao Danve Consumer Affairs, Food and Public Distribution 21. Vishnu Deo Sai Mines Steel Labour and Employment   22. Sudarshan Bhagat Social Justice and Empowerment