Ricoh included in Top 100 Global Innovators List

Ricoh Company has been named to the 2014 Top 100 Global Innovators list by Thomson Reuters, one of the world’s leading sources of intelligent information for businesses and professionals. The Thomson Reuters Top 100 Global Innovators Award honors companies that lead global business by protecting the creative ideas of inventions through intellectual property rights and transforming them into successful forms of business. Analysis of data for the past five years is conducted based on four principal criteria: overall patent volume, patent grant success rate, global reach of the portfolio, and patent influence as evidenced by citations. Ricoh was selected on account of its high scores for the patent grant success rate, which shows the percentage of all patent applications that were successfully registered, and the global reach of the portfolio, which indicates a balance in the patents acquired in the four major markets of China, the United States, Europe, and Japan. Ricoh India is a leading global player in the area of imaging solutions like Digital Plain Paper Copiers, Colour Plain Paper Copiers, Colour & Mono Lazer Printers, Fax machines, Thermal paper etc.

NSE Corporate Bonds Trading report

As per the NSE data, HOUSING DEVELOPMENT FINANCE CORPORATION LTD SR-M 015 9.45 NCD 21AG19 FVRS10LAC, currently trading at Rs 102.4588 with Last Trade Yield (YTM) Annualized of 8.7700% was in maximum demand, followed by RURAL ELECTRIFICATION CORPORATION LIMITED SR-123 III OPT I 9.25 BD 25AG17 FVRS10LAC, trading at Rs 101.7894 with YTM Annualized of 8.4600%, L&T FINCORP LIMITED SR-C OPT 5 9.7 NCD 26AG16 FVRS25LAC, trading at Rs 100.7478 with YTM Annualized of 8.7165% and RURAL ELECTRIFICATION CORPORATION LIMITED SR-123 IV 8.97 BD 08SP16 FVRS10LAC, trading at Rs 100.8388 at a YTM of 8.4000%.

Dr Reddy’s Laboratories trades in green on the BSE

Dr Reddys Laboratories is currently trading at Rs. 3495.30, up by 64.40 points or 1.88% from its previous closing of Rs. 3430.90 on the BSE. The scrip opened at Rs. 3454.00 and has touched a high and low of Rs. 3511.00 and Rs. 3431.30 respectively. So far 16903 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3503.55 on 13-Nov-2014 and a 52 week low of Rs. 2250.00 on 19-May-2014. Last one week high and low of the scrip stood at Rs. 3503.55 and Rs. 3370.00 respectively. The current market cap of the company is Rs. 59394.64 crore. The promoters holding in the company stood at 25.49 % while Institutions and Non-Institutions held 43.79 % and 13.69 % respectively. Dr Reddy’s Laboratories and US firm Endo International Plc have received final approval from US Food and Drug Administration (US FDA) to make cheaper copies of Roche Holding AG's antiviral Valcyte. The move comes after Ranbaxy Laboratories on Thursday said that FDA had stripped the company of its tentative approval to launch the first copy of the drug due to quality control issues at its manufacturing plants. Ranbaxy, whose all India-based manufacturing plants have been banned by the FDA from exporting to the United States, also lost its rights to a six-month market exclusivity for Valcyte generic. Dr. Reddy's is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.

Trent trades higher on the bourses

Trent is currently trading at Rs. 1500.00, up by 14.35 points or 0.97% from its previous closing of Rs. 1485.65 on the BSE. The scrip opened at Rs. 1499.70 and has touched a high and low of Rs. 1551.90 and Rs. 1489.20 respectively. So far 5943 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1551.90 on 19-Nov-2014 and a 52 week low of Rs. 910.60 on 19-Nov-2013. Last one week high and low of the scrip stood at Rs. 1551.90 and Rs. 1368.00 respectively. The current market cap of the company is Rs. 4998.02 crore. The promoters holding in the company stood at 32.61% while Institutions and Non-Institutions held 39.73% and 27.65% respectively. Trent Hypermarkets, the joint venture (JV) company between Trent and Tesco, is reportedly all set to open four new stores under the Star brand in January-February next year, which will be located in Mumbai, Pune and Bangalore. The stores are between 2,000 sq ft to 30,000 sq ft and will house its large format Star Bazaar, mid format Star Market and small format Star Daily. Trent Hypermarkets’ current stores are in Maharashtra and Karnataka, and it plans to open three to five more stores in these states. 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.

Crompton Greaves to open new smart grid facility in France

Crompton Greaves (CG) will be opening a new facility in Grenoble (France) to produce, test and calibrate over 2 million ZIV smart meters per year. The company has chosen Grenoble to open this new facility, so as to cover the demand for Linky meters in France, and thereby provide local support to ERDF. The company recently won an order from ERDF to participate in the supply of three million Linky smart meters, in the first phase of its 35 million unit rollout plan for 2021.

This facility will house the Centre of Excellence for G3-PLC technology, be fully equipped to manufacture ZIV single and three phase Linky G1 and G3 meters, and will be ready to produce the first units by the second quarter of 2015. The company will also contribute to the creation of sustainable local employment, as this centre will make available, around 200 direct and indirect jobs in the area, once full production capacity is reached.

The Grenoble manufacturing facility, together with the existing facilities in Spain, will enable the company to face new challenges from large-scale deployments in France, UK, Spain, the Netherlands and other countries in the area with greater agility. Europe's smart metering market is expected to grow sharply and hit 180 million units by 2020. The overall Distribution Automation market in Europe is expected to reach over 800 M$ by 2018. The company's ZIV smart meters are gaining a strategic position in the Smart Grid European market where it has achieved key wins in 2014.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.

Gold futures trade higher on pick up in demand

Gold futures traded up on MCX as a pickup in physical demand amid a boost in gold reserves by Russia, coupled with rising geopolitical tensions which bolstered bullion’s safe haven appeal lifted prices.

The contract for December delivery was trading at Rs 26606.00, up by 0.04% or Rs 10.00 from its previous closing of Rs 26596.00. The open interest of the contract stood at 9039.00 lots.

The contract for February delivery was trading at Rs 26841.00, up by 0.03% or Rs 9.00 from its previous closing of Rs 26832.00. The open interest of the contract stood at 3326.00 lots on MCX.

Modi govt relaunches Kisan Vikas Patra to wean poor off Ponzi schemes

With a view to raise the rate of domestic savings that are in decline, the government re-launched the Kisan Vikas Patra (KVP) investment scheme designed to target the country's poor. Finance Minister Arun Jaitley said at the launch of a revamped KVP that in the last 2-3 years, the savings rate in the country had declined from a record high of 36.8 percent to below 30 percent due to a slowdown in the economy. It was, therefore, necessary to encourage people to save more. Jaitley said that there was an urgent need to raise savings in the country, which will then be used for nation building. Besides, KVPs would help poor gullible investors channelise their savings in trusted government scheme instead of Ponzi schemes where hard-earned savings disappear. Available in the denominations of Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000, the sum invested would be doubled in 100 months. The instrument has no upper limit for investment and can be encashed after a lock-in period of 30 months. The certificates can be issued in single or joint names and can be transferred from one person to any other person or persons, multiple times. Transfer facility will be available from one post office to another in India, as well as of nomination. The certificate can also be pledged as security to avail loans from the banks, and in other cases of need as collateral security. The scheme, launched earlier in 1988 was very popular, while the percentage share of gross collections under KVP was in the range of 9 percent to 29 percent against the total collections received under all National Savings Schemes. KVP gross collections in 2010-11 (scheme closed in November 2011) were Rs 21,631.16 crore

Unitech trades higher on the bourses

Unitech is currently trading at Rs. 20.75, up by 0.20 points or 0.97% from its previous closing of Rs. 20.55 on the BSE.

The scrip opened at Rs. 20.50 and has touched a high and low of Rs. 21.00 and Rs. 20.30 respectively. So far 2707334 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 38.60 on 10-Jun-2014 and a 52 week low of Rs. 10.86 on 04-Mar-2014.

Last one week high and low of the scrip stood at Rs. 21.95 and Rs. 19.60 respectively. The current market cap of the company is Rs. 5441.91 crore.

The promoters holding in the company stood at 47.62% while Institutions and Non-Institutions held 28.28% and 24.11% respectively.

Unitech has reported 26% fall in its sales bookings to Rs 527 crore in the first six months of this fiscal due to slowdown in the realty sector. The company had sold properties worth Rs 717 crore in the corresponding period of last fiscal.

In volume terms, the company’s sales declined to 0.91 million sq ft during April-September period of this fiscal from 1.05 million sq ft in the year-ago period. The average realisation has also dropped to Rs 5,818 per sq ft from Rs 6,830 per sq ft during the period under review.

Segment-wise, the sales bookings in residential more than halved to Rs. 251 crore in the first half of 2014-15 from Rs. 510 crore in the corresponding period of last fiscal. However, in the non-residential segment, sales booking increased to Rs. 276 crore from Rs. 207 crore.

Further, Unitech delivered 2.15 million sq ft of completed area, while it launched 0.64 million sq ft area in the first six months of this fiscal.

Unitech, being one of the leading real estate companies, has several business segments relating to residential, commercial, Information Technology (IT) parks, retail, amusement parks, etc, with over four decades of achievement and continues to be a prominent player with high degree of quality and affordable real estate in the Indian market space.

Coal Ministry to come up with draft rules for e-auction for 74 coal blocks

The Coal Ministry is likely to issue draft rules for e-auction for 74 coal blocks, the rules will be put up for public consultation as well as stakeholder consultation too, it is being done to be fair to all the parties involved. The draft rules are expected to provide clarity on compensation and will pave way for a cap on tariffs levied. Earlier, the government as per its plan to allocate coal blocks through auction by February next has asked the allottees of 74 mines to provide information about their fields by November 25. These 74 mines are part of those 204 coal blocks whose allocation to various companies since 1993 was quashed by the Supreme Court on the ground that they were done in an illegal manner. The coal block allottees have been asked to provide details on environment clearance, production and land status. They have to submit copies of geological report and environment clearance and forest clearance, production details, status of land (mine and infrastructure) acquisition and details of capital investment. For determination of the valuation, the government would use data like year-wise and cumulative production till March 2014 and for FY15; cost of land acquired for mine and infrastructure; cost incurred on rehabilitation and re-settlement; details of operating costs including outsourcing costs etc. The government had recently set up a high-level inter-ministerial committee to ensure the smooth allocation of 204 cancelled coal blocks and is planning to build a consensus on the modalities for coal block auctions. It will also consult stakeholders including industry associations like FICCI, CII, Assocham and coal and power producers' associations on ways to undertake coal block auctions.

IFCI sells 25.14 lakh shares of Era Infra Engineering

IFCI has sold 25.14 lakh shares of Era Infra Engineering through the open market route. The shares were sold on an average price of Rs 9.30 valuing the transaction to Rs 2.33 crore. 

Era Infra Engineering, incorporated in September 1990, is the flagship company of the Era Group. The company is a growing construction company with a pan-India presence and has experience in various kinds of construction projects such as power, housing, road, industrial and aviation.

TCS wins CIPD Award for ‘Best Rewards and Benefits Initiative

Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organisation, has received two major acknowledgements of their excellence in people management, achieving the Gold level certification from Investors in People and winning a CIPD Award for ‘Best Rewards and Benefits Initiative’. Being recertified at Gold level by Investors in People is the highest recognition available from the organisation. TCS has been Gold level certified by Investors in People in 2005, 2008 and 2011. Achieving Gold level puts TCS in the top 2% of over 26,000 organisations in the UK that have been recognised by Investors in People. The CIPD Awards recognise and celebrate outstanding achievements in people management and development and the impact it has on business success. The ‘Best Rewards and Benefits Initiative’ category acclaims the leader in creating value for their organisation by designing and implementing programmes that reward and recognise crucial skills, behaviours and performance. TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

Jaiprakash Associates surges on getting CCI’s nod to sell cement grinding unit to Shree Cements

Jaiprakash Associates is currently trading at Rs. 34.70, up by 0.25 points or 0.73% from its previous closing of Rs. 34.45 on the BSE. The scrip opened at Rs. 34.80 and has touched a high and low of Rs. 35.10 and Rs. 34.25 respectively. So far 933079 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 89.85 on 11-Jun-2014 and a 52 week low of Rs. 24.05 on 25-Sep-2014. Last one week high and low of the scrip stood at Rs. 35.10 and Rs. 31.25 respectively. The current market cap of the company is Rs. 8428.46 crore. The promoters holding in the company stood at 39.56% while Institutions and Non-Institutions held 36.25% and 24.19% respectively. Jaiprakash Associates has received Competition Commission of India’s (CCI) approval for its proposed sale of Haryana’s cement grinding unit to Shree Cements. The proposed deal involves transfer of a 1.5 million tonnes per annum (MTPA) capacity cement grinding unit at Panipat in Haryana on a going concern basis by way of a slump sale. CCI said that the proposed combination is not likely to have an appreciable adverse effect on competition in India in any of the relevant market. The company reported a net loss of Rs 106.48 crore for the quarter as compared to a net profit of Rs 67.67 crore for the same quarter in the previous year. Total income of the company decreased by 17.06% at Rs 2736.91 crore for quarter under review as compared to Rs 3300.21 crore for the quarter ended September 30, 2013.

Chana futures edge lower on subdued demand

Chana futures traded down on NCDEX due to subdued demand and slack buying in the spot market. Further, adequate stocks in the physical market due to increased supplies from producing regions also added pressure on chana prices. The contract for November delivery was trading at Rs 3163.00, down by 0.25% or Rs 8.00 from its previous closing of Rs 3171.00. The open interest of the contract stood at 50930 lots. The contract for December delivery was trading at Rs 3147.00, down by 0.29% or Rs 9.00 from its previous closing of Rs 3156.00. The open interest of the contract stood at 66130 lots on NCDEX.

FIIs were net sellers of Rs 194.80 crore in index futures and options segments on November 18

According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 194.80 crore in index futures and options segments, as per Tuesday’s data, November 18, 2014.

FIIs were sellers of index futures to the tune of Rs 163.86 crore and they sold index options worth Rs 30.94 crore. In the stock segment, FII’s were net buyers of stock futures worth Rs 180.08 crore, while they bought stock options worth Rs 3.98 crore.  

Asian markets trade mostly higher in early deals on Wednesday

Most of the Asian equity benchmarks are trading higher in the early deals on Wednesday. However, some of them gave up early gains with investors looking ahead to the release of U.S. Federal Reserve's October monetary policy meeting. On the regional front, the Japanese stocks rose as investors held out hope for more robust growth after Prime Minister Shinzo Abe delayed a tax hike and called an early election to seek a fresh mandate for his aggressive policies to shore up the economy. Besides, yen dropped to a seven-year low against the dollar too contributed to the upside. Among other markets in the Asia-Pacific region, Singapore, Indonesia, Malaysia and Taiwan are trading higher, while South Korea, Hong Kong and Shanghai are weak.

Nikkei 225 surged by 49.75 points or 0.29% to 17,393.81, Straits Times soared 17.71 points or 0.53% to 3,331.44, Jakarta Composite increased by 16.58 points or 0.33% to 5,119.05, FTSE Bursa Malaysia KLCI improved 7.11 points or 0.39% to 1,825.49 and Taiwan Weighted was up by 104.21 points or 1.18% to 8,963.28.

On the flip side, Hang Seng dropped 67.07 points or 0.29% to 23,462.10, KOSPI Index slipped 5.19 points or 0.26% to 1,961.82 and Shanghai Composite was down by 5.13 points or 0.21% to 2,451.23.

India's economic growth to pick up to 5.6 percent: Fitch Ratings

Global ratings agency Fitch Ratings in its latest release has said that India's economic growth is expected to pick up to 5.6 percent in the current fiscal on account of structural reforms being rolled-out by the government.

The agency expects real GDP growth to pick up to 5.6 percent in FY15 and 6.5 percent in FY16 from 4.7 percent in FY14 and has stated that high foreign reserves provide a strong buffer to the Indian economy. Fitch has further stated that the Indian economy had lost much of its dynamism in recent years due to weak investment, however, a gradual pick-up is expected now. In its report it has highlighted that India's current account deficit (CAD) was a concern for investors until mid of 2013, but it has narrowed now due to policy rates hikes and measures including curbs on gold imports through duty hikes.

Though, cautioning  about factors such as pace of fiscal consolidation and structural reforms, investment and inflation environment as well as banking sector's asset quality, it has said that they form downside risks to the economy. India's fiscal deficit touched 82.6 per cent of the Budget estimates for 2014-15 to cross Rs 4.38 lakh crore at the end of September.

Recently, the domestic ratings agency India Ratings, a part of Fitch Ratings had revised down its economic growth estimate for fiscal year 2014-15 marginally to 5.6 per cent citing poor industrial performance, and warned that the government will slip on the fiscal deficit front.

NTPC plans to acquire 26% stake in coal mines overseas: Report

National Thermal Power Corporation (NTPC), the country’s largest power utility, is reportedly planning to acquire at least 26% stake in coal mines abroad to secure long-term fuel supplies for all its power plants.  The company has shifted its earlier stance of seeking only minority stakes in such mines to ensure enough fuel for plants that operate only on imported coal. Currently, the company is looking at long term tie-ups of imported coal for at least five years for coal with energy content between 4200 and 6000 gross calorific value (GCV). NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.

Indiabulls Real Estate declines as its net debt surges 67% to Rs 5,083 crore in Q2FY15

Indiabulls Real Estate is currently trading at Rs. 83.25, down by 1.40 points or 1.65% from its previous closing of Rs. 84.65 on the BSE. The scrip opened at Rs. 84.10 and has touched a high and low of Rs. 84.55 and Rs. 83.05 respectively. So far 153167 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.45 on 04-Jun-2014 and a 52 week low of Rs. 45.10 on 26-Feb-2014. Last one week high and low of the scrip stood at Rs. 85.55 and Rs. 75.35 respectively. The current market cap of the company is Rs. 3577.43 crore. The promoters holding in the company stood at 37.74% while Institutions and Non-Institutions held 30.22% and 31.93% respectively. Indiabulls Real Estate’s net debt has increased by 67% to Rs 5,083 crore at the end of the second quarter of the current fiscal from Rs 3,051 crore at the end of June quarter, mainly due to acquisition of prime property in Central London. Mumbai-based developer entered the London market with acquisition of 22, Hanover Square in Mayfair, Central London, a 87,444 sq ft commercial property, for Rs 1,630 crore. Recently, the company reported 54% decline in its consolidated net profit to Rs 37.34 crore for the quarter ended September 30, from Rs 81.21 crore in the year-ago period. However, the company’s total income increased by 60.09% at Rs 753.63 crore for the quarter from Rs 470.76 crore in the similar quarter of previous year.

MTNL raises Rs 1,500 crore by selling bonds

Mahanagar Telephone Nigam (MTNL) has raised Rs 1,500 crore by selling bonds to institutional investors and the funds. The amount raised will be used for paying the debt, which stood at Rs 14,760 crore at the end of June this year.

The company has been losing market share over the last many years. MTNL’s market share has come down to 4.83 per cent as on May 2014 from 10.87 per cent in March 2009.

The government is taking various measures to revive the company. Last year in September, it was decided to refund about Rs 5,700 crore to MTNL which it has to pay for wireless broadband spectrum in Delhi and Mumbai in 2010.

MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.

M&M to carry out preventive inspection of part of its engines

Mahindra & Mahindra (M&M), a part of $16.5 billion Mahindra Group, will be carrying out preventive inspection of a part of its engines manufactured during May 2014. The preventive inspection and replacement (if needed) of this part (vacuum pump) would be free of cost for customers who would be individually contacted by the company.

The proactive part Inspection/replacement is in keeping with Mahindra’s customer-centric approach as well as in keeping with the company’s endeavour to ensure a hassle free experience for its customers. This is also in Keeping with SIAM’s voluntary code on vehicle recall.

The company’s customers can also visit the website (Service Action section) and check whether their vehicle is part of the inspection. The inspection is limited to approximately 2300 vehicles of Scorpio Vlx/Sle /Lx , XUV 500 W4/W6M/8 and Xylo H9/H8/H4 variants.

Ashoka Buildcon trades with traction on the bourses

Ashoka Buildcon is currently trading at Rs. 131.90, up by 3.80 points or 2.97% from its previous closing of Rs. 128.10 on the BSE. The scrip opened at Rs. 128.60 and has touched a high and low of Rs. 131.90 and Rs. 128.60 respectively. So far 1612 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 158.85 on 18-Jul-2014 and a 52 week low of Rs. 49.00 on 26-Nov-2013. Last one week high and low of the scrip stood at Rs. 136.05 and Rs. 124.50 respectively. The current market cap of the company is Rs. 2028.98 crore. The promoters holding in the company stood at 67.61% while Institutions and Non-Institutions held 16.26% and 16.13% respectively. Ashoka Buildcon has been honoured with prestigious awards by World Wide Achievers, a prominent Market Research Organisation, one of the leading market research companies as ‘Construction Company of the year’ for company’s outstanding contribution to the development of infrastructure sector. 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.

Reliance MF introduces Dual Advantage Fixed Tenure Fund VII- Plan A

Reliance Mutual Fund has launched the New Fund Offer (NFO) of Reliance Dual Advantage Fixed Tenure Fund VII- Plan A, a close ended income scheme. The NFO opens for subscription on Nov 18, 2014 and closes on Nov 26, 2014.  No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 per option and in multiples of Re. 1.

The scheme’s performance will be benchmarked against Crisil MIP Blended Fund Index and its fund managers are Krishan Daga and Anju Chajjer.

The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure.

Gail India, Coal India and Ranbaxy to see some action today

State-run gas utility GAIL India is likely to sign a gas-supply agreement with Houston-based Vega Energy Partners shortly. The deal is for supplying gas to the Cove Point LNG Terminal project located at Lusby in Maryland, US. Vega Energy Partners is engaged in the management, optimization, and development of natural gas assets. The $3.8-billion Cove Point LNG project is owned by Dominion Cove Point LNG, LP with which GAIL had signed a terminal service agreement in April 2013 (through GAIL Global (USA) LNG LLC) for booking 2.3 million tonnes per annum (mtpa) liquefaction capacity in Cove Point LNG Terminal.

At a time when it is facing flak for its failure to supply fuel consistently to power plants, public sector behemoth Coal India (CIL) has cleared a long-pending proposal to set up a 1,600-Mw (2x800 Mw) pithead power plant at the Sundergarh district in Odisha. While there are questions about whether CIL should initiate such a project at this juncture, experts say the pithead thermal power plant could actually be the way forward in overcoming the challenges of coal transportation. The idea of mining companies generating power to sell to consumers was mooted almost a decade ago in 2005, when the CIL board gave an in-principle nod to its subsidiary, Mahanadi Coalfields, making a foray into power generation.

Ranbaxy Laboratories has sued the US Food and Drug Administration (FDA) for revoking approvals granted to the Indian firm to launch copies of two drugs including AstraZeneca Plc’s heartburn pill Nexium. The FDA told Ranbaxy this month that it believed its decisions to grant the company tentative approvals for copies of Nexium and Roche AG’s antiviral Valcyte were in error, after it found that Ranbaxy’s plants at the time were not compliant with the FDA’s manufacturing quality standards. The agency also stripped Ranbaxy of six-month market exclusivity on the launch of generic Valcyte. In the suit filed in the District Court for the District of Columbia, Ranbaxy stated that the FDA’s move violated constitutional rights, exceeded the agency’s statutory authority, and was arbitrary, capricious, and otherwise contrary to law.

State-owned Power Grid Corporation of India’s (PGCIL) board has approved two transmission projects worth over Rs 1,000 crore. The transmission major would be implementing two projects valued at Rs 1,046.71 crore. The company would carry out sub-station works associated with system strengthening in Southern region for import of power from Eastern Region at an estimated cost of Rs 972.42 crore. This project is to be commissioned within 36 months from the date of investment approval. Besides, the company would be implementing a Common Transmission Scheme associated with ISGS Projects in Nagapattinam / Cuddatore Area of Tamil Nadu at an estimated cost of Rs 74.29 crore. This project has a completion schedule of 30 months.

The country’s top iron ore producer National Mineral Development Corporation (NMDC) and state controlled miner Odisha Mining Corporation (OMC) are vying for 51 percent stake in a mega steel project planned in Keonjhar district. The steel mill, with a projected capacity of five to six million tonne per annum (mtpa), is likely to come up under Patna tehsil in Keonjhar, the site earlier identified for the 12 million tonne steel plant by ArcelorMittal. Since ArcelorMittal has already scrapped its Odisha project, the land is proposed to be used for the ultra mega steel plant in the state. NMDC has already submitted a draft tripartite memorandum of agreement to the Odisha government. The government has conveyed its in-principle approval to form special purpose vehicle (SPV) by NMDC, OMC and the state’s land acquisition agency Odisha Industrial Infrastructure Development Corporation (Idco).

State-run NTPC, the country’s biggest power generator and thermal coal consumer, plans to acquire at least 26 percent stake in coal mines abroad to secure long-term fuel supplies for all its power plants. This is a shift from the company’s earlier stance of seeking only minority stakes in such mines to ensure fuel for plants that operate only on imported coal. In the current fiscal, NTPC is targeting tie-ups for 17 mt of imported coal. It is looking at long-term tie-ups of imported coal for at least five years for coal with energy content between 4,200 and 6,000 gross calorific value (GCV).

It is two years since ONGC formed a ‘Centre for Delivery’ for producing oil and gas from ‘high temperature, high pressure’ reservoirs, but it will take at least a year more for actual drilling to commence. These tough-to-tame reservoirs are estimated to hold about 350 million tonnes of oil and gas, though it is practical to expect that only a seventh of it could be pulled out. Even then, it is a respectable figure, and hence the ‘Centre for Delivery’, which, incidentally, is based in Chennai as most of the HTHPs are in the South. ONGC plans to drill five wells in the near future - two in the Cauvery basin and three in the K-G basin. 2015-16 is expected to be a landmark year for the first monetization of HTHP reservoirs.

Tata Global Beverages (TGBL) is looking to cash in on the growing awareness on health and wellness to reinforce its dominance in the green tea segment in the country by launching new products and tapping small towns.  TGBL has been selling green tea through its Tetley brand for the past seven years, but consumption has been mostly confined to major cities. Tetley green tea bags and packets have about 30% share of the green tea market in the country. With its new offering Acti Green, the company is planning to move to smaller towns. While Tetley has five flavours, Acti Green has started with tulsi and cardamom flavours while the company hopes to add more flavours later.

Tech Mahindra has launched an internal social networking site, to aid communication and collaboration with its nearly 1 lakh employees, and is looking to pitch the platform to customers in the next few months. Enterprise social networking has boomed over the last few years, as companies look to gain the benefits of internal collaboration without the danger of proprietary information being leaked onto public social networking platforms. Tech Mahindra’s move mirrors that of Tata Consultancy Services, which built its internal social networking platform called ‘Knome’, and is also marketing it to clients.