BHEL develops new kind of boiler for power generation

Bharat Heavy Electricals (BHEL) has reportedly developed a new kind of boiler for power generation. Known as ‘Fuel Flexible Supercritical Boilers’, this new equipment can help in producing electricity with 100 per cent domestic coal or 100 per cent imported coal.

Currently, the companies are required to mix both categories of coal in a fixed ratio and also have to consider few characteristics before blending. Now, with the help of this new boiler, there would not be any such requirements.

BHEL’s net profit declined by 58.42% at Rs 193.50 crore as compared to Rs 465.43 crore for the quarter ended June 30, 2013. Its total income decreased by 21.35% to Rs 5502.76 crore for the quarter under review from Rs 6996.60 crore for the corresponding quarter of the previous year.

September fuel oil supply into Asia to rebound by 10% from August

Fuel oil supplies from the West into Asia are expected to rebound by around 14 per cent in September, which together with sustained better demand and lower stockpiles, could keep Asian cash premiums supported, sources said on Monday. 

An estimated 3.57 million tonnes of fuel oil is tentatively scheduled to arrive in Asia next month from Europe and the Americas, 9.8 per cent more than the revised volume in August, Reuters analysis of shipping data showed. 

About 2.63 million tonnes, or 74 per cent of Asia's volumes, will land in Singapore, a major break-bulk centre and the world's top bunkering hub. 

While total volumes into Asia are higher, Singapore will receive around 220,000 tonnes less than August. 

Despite higher month-on-month flows from the West, which meets more than 40 per cent of Asia's demand, supplies are still at least 20 per cent below last year's monthly average. 

Thin supplies, combined with lower stockpiles in Singapore and a pick-up in marine sales in Singapore, should keep cash differentials firm. 

SpiceJet to resume flights to Bangkok from next month

Budget carrier SpiceJet will resume its flight services to Bangkok from next month. 

The Kalanithi Maran-promoted private carrier had launched flights to Bangkok from Pune and Bangalore with much fanfare last October but scrapped both the services at the start of summer schedule this year, citing low passenger demand. 

The airline has also rolled out special promotional fares for its Kolkata-Bangkok flight, which will be SpiceJet's first direct international air service from West Bengal's capital, offering an all inclusive one way fare of Rs 2,999 (Kolkata-Bangkok) for a limited period, the release said. 

The airline has timed the launch of this flight to coincide with the start of the Puja Holidays and festive season, Kapoor said adding that with Thailand offering visa-on-arrival for Indians, and with unbelievably low introductory fare, SpiceJet is hopeful of a good seat factor on this new route. 

Gold extends losses to below $1,300 as equities gain

Gold extended losses into a second session on Monday, slipping below $1,300 an ounce as equities recovered after an initial sell-off over escalating tensions in Ukraine. 

Spot gold had fallen 0.4 per cent to $1,299.80 an ounce by 0314 GMT, after dropping 0.6 per cent on Friday. US gold fell about $5 to $1,300.90. 

Asian stocks eked out gains on Monday after seeing Wall Street recover from the latest round of tensions in the Ukrainian crisis, although renewed uncertainty over the volatile conflict put a firm lid on markets. 

Gold prices dipped below the key psychological level of $1,300 an ounce after falling through support at the 50-day moving average near $1,304. 

Markets were eyeing developments on the geopolitical front for cues. Ukrainian forces raised their national flag over a police station in the city of Luhansk that was for months under rebel control, Kiev said on Sunday, in what could be a breakthrough in Ukraine's efforts to crush pro-Moscow separatists. 

News on Friday that Ukrainian forces destroyed a Russian military column in Ukrainian territory initially hit Wall Street, drove down government bond yields and boosted  safe-haven currencies like the yen and Swiss franc. US stocks eventually pared their losses as risk appetite partially returned. 

Cipla gains after April-June margins expand sequentially

Cipla gain 1.4 per cent after April-June operating margins beat some estimates. Margins expand sequentially by nearly 4 per centage points to 20 per cent. 

Investors say management maintained revenue guidance of mid-teens growth and 20 per cent margins in FY15 in a conference call. 

management maintained revenue guidance of mid-teens growth and 20 per cent margins in FY15 in a conference call. 

Strong growth in India and better product mix will further aid margins, fund managers add. 

Gold futures fall on weak global cues, profit-booking

Gold prices fell 0.82 per cent to Rs 28,420 per 10 grams in futures trade today amid a weak trend overseas and profit-booking by speculators. 

At the Multi Commodity Exchange, Gold for delivery in December fell by Rs 236, or 0.82 per cent, to Rs 28,420 per 10 grams in a business turnover of 14 lots. 

Likewise, the metal for delivery in October shed Rs 224, or 0.78 per cent, to Rs 28,390 per 10 grams in 537 lots. 

besides profit-booking by speculators, a weak trend in the overseas markets as the outlook for an improving US economy outweighed tension in Ukraine, weighed on gold prices at futures trade here. 

Tata Motors hits 52-week high on Jaguar Land Rover's July sales data

Tata Motors Ltd rallied over 3 per cent in trade to hit a fresh record high of Rs 501.35 on Monday, after the global auto giant said that sales of luxury brand.
Jaguar Land Rover rose 12.24 per cent to 39,467 units in July, compared to 35,162 units
in the same month last year.
Tata Motors DVR was trading 9.9 per cent higher at Rs 364.75. It also hit a fresh record
high of Rs 364.85 earlier in trade today.
Even though JLR sales rose in the month of July, Tata Motors reported a fall in its global sales by 8.46 per 
cent to 80,151 units in July. The company had sold 87,566 units in the same
month last year.
In the passenger vehicles category, the global sales last month were at 49,001
units, as against 46,684 units in July 2013, up 4.96 per cent, Tata Motors said
in a statement.

Hyundai plans two new car plants in China, instead of one

Hyundai Motor Co plans to remodel a car assembly plant belonging to a Chinese partner, a newspaper reported, a move which could help pave the way for the South Korean automaker to build a separate factory in western China. 

Hyundai, which currently only has factories in eastern China, has said it is keen to build a plant in China's southwestern city of Chongqing which would help it tap growing demand in western parts of the country. 
But it has yet to gain the approval of China's central government, with South Korean media saying that it is under pressure to build a plant in the northeastern province of Hebei. 
Hyundai now plans to remodel a Beijing plant owned by its Chinese partner, Beijing Automotive Industry Holding Co Ltd, in addition to pursuing its plans with its partner for a factory in Chongqing, said the newspaper report, citing the automaker and the South Korean government. 

Tata Power rallies as MERC grants 25-year power distribution licence

Tata Power  Ltd rallied as much as 4.2 per cent in trade on Monday after the state electricity regulator Maharashtra Electricity Regulatory Commission (MERC) has granted 25 years distribution licence to Tata Power for supplying power in city and suburban areas. 

Tata Power pared some of the morning gains and was trading 2.4 per cent higher at Rs 92.90 and was also the top Sensex gainer. It hit a low of Rs 91.90 and a high of Rs 94.60 in trade today. 

MERC in its order has allowed Tata Power Company (TPC) to supply electricity in Mumbai city, parts of suburban areas including Bandra to Dahisar in Western suburbs; Chunabhatti to Vikhroli and Mankhurd in Eastern suburbs for 25 years. 

Tata Power has a consumer base of five lakh in Mumbai of which nearly 65 per cent are those consuming below 300 units per month.

It has also been granted licence to supply electricity in areas of Mira-Bhayander Municipal Corporation, Chene and Versova which were earlier not a part of its licence area. 

Brent falls below $103 on higher Libyan output, lower geopolitical risk

Brent crude fell below $103 a barrel on Monday as Libya increased its oil output and as worries over supply from key producer Iraq eased. 

The drop came following a jump of more than $1 a barrel in benchmark prices on both sides of the Atlantic on Friday amid fresh tensions in Ukraine, where government forces engaged a Russian armoured column. 

Brent crude for October delivery had fallen 65 cents to $102.88 a barrel by 0324 GMT. The contract closed $1.52 a barrel higher on Friday. 

US crude for September delivery was 46 cents lower at $96.89 a barrel, after ending the previous session up $1.77 a barrel. 

Libya's oil production rose to 535,000 barrels a day (bpd) on Sunday from 400,000 bpd earlier in the week due to higher output at the southwestern El Sharara, El Feel fields, a spokesman for National Oil Corp (NOC) said .

Even though oil ports in the east have reopened, oil production in the North African state is still way off the 1.4 million barrels per day it produced last year before a series of strikes, protests and blockades slashed output to as low as 200,000 bpd.