Tata Power crosses operating wind assets of 500 MW

The total capacity of the project is 54 MW and with this commissioning, Tata Power attains the landmark milestone of 511 MW through wind energy. 

Tata Power announced the successful commissioning of 24 MW wind farm at Rojmal in Gujarat through its subsidiary, Tata Power Renewable Energy Limited (TPREL). The total capacity of the project is 54 MW and with this commissioning, Tata Power attains the landmark milestone of 511 MW through wind energy. Tata Power’s total installed capacity, today, stands at 8750 MW and the clean and renewable energy capacity at 1383 MW.

The 24MW wind capacity is expected to generate approximately 52 MUs per year. Tata Power’s wind farms are located across the leading wind resource states including Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka. The Company is evaluating growth opportunities in these states, as also in Andhra Pradesh and Madhya Pradesh, through organic and inorganic means. The Company continues to pursue avenues to add clean and renewable energy generation capacities to increase its portfolio.

Speaking on the commissioning, Anil Sardana, MD and CEO, Tata Power, said, “We are delighted to have crossed the 500 MW milestone for our operating wind capacity with the commissioning of the 24 MW at Rojmal. This is one of the many key milestones in our endeavor to generate 20-25 percent of Tata Power’s total generation capacity from clean energy sources. The clean energy project is well in line with our core business value of sustainable growth, and will further enhance and increase our clean energy footprint. As always, we take this opportunity to extend our hearty appreciation to the Government of Gujarat and all our stakeholders for the support extended in making this project successful.”

TPREL’s Rojmal wind farm utilizes wind turbines from Inox Wind Ltd., and sells the power to Gujarat Urja Vikas Nigam Limited (GUVNL) under the Gujarat Wind Policy of year 2013. The Company also has projects under development in Rajasthan and Maharashtra.

Tata Power has six of its renewable energy projects registered under the Clean Development Mechanism (CDM) programme of the United Nations Framework Convention on Climate Change (UNFCCC). These projects include the 50.4 MW  Wind  project at Gadag, Karnataka, the 50.4 MW Wind project at Khandke, Maharashtra, the 50.4 MW Wind project at Samana, Gujarat, 39.2 MW Wind Project at Bhogat, Gujarat, the 25 MW Solar project at Mithapur, Gujarat and 187MW Shuakhevi Hydro project in Georgia.

TVS Motors Q4 PAT at Rs. 90.5 crore

Total Income is Rs. 24,660.70 mn for the Quarter ended March 31, 2015 where as the same was at Rs. 21,664.10 mn for the Quarter ended March 31, 2014. 

TVS Motor Company Ltd has announced the following results for the quarter & year ended March 31, 2015:

The Standalone Results are as follows :

The Unaudited Standalone results for the Quarter ended March 31, 2015

The Company posted a net profit of Rs. 905.20 million for the Quarter ended March 31, 2015 where as the same was at Rs. 521.20 million for the Quarter ended March 31, 2014. Total Income is Rs. 24,660.70 million for the Quarter ended March 31, 2015 where as the same was at Rs. 21,664.10 million for the Quarter ended March 31, 2014.

The Audited results for the Year ended March 31, 2015

The Company has posted a net profit of Rs. 3,478.30 million for the year ended March 31, 2015 where as the same was at Rs. 2,616.30 million for the year ended March 31, 2014. Total Income is Rs. 1,01,308.30 million for the year ended March 31, 2015 where as the same was at Rs. 79,961.50 million for the year ended March 31, 2014.

The company has declared a second interim dividend of Rs. 1.15 per share (115%) for the year ended March 31, 2015. The Dividend will be paid to the shareholders on or after May 09, 2015.

The board had earlier declared first interim dividend of Re.0.75 per share (75%) for the year 2014-15 and the same was paid on February 13, 2015.

The total dividend, including the second interim dividend for the year ended March 31, 2015, will aggregate to Rs.1.90 per share (190%) on 47,50,87,114 equity shares of Re. 1/- each. The directors do not recommend any further dividend for the year 2014-15. 

Market recoups losses, banks lead

Axis Bank, ICICI Bank are the major gainers; Sesa Sterlite remains weak ahead of results.The India VIX (Volatility) index is down 2.4 percent at 16.995. 

The market have rebounded into the positive zone in early noon deals on the back of strong gains in private banking majors - Axis Bank and ICICI Bank.

The Sensex which touched a low of 27,177, has recouped most of its losses and is now down 33 points at 27,396.

The NSE Nifty too has recovered from a low of 8,219, and is now down mere seven  points at 8,279.

The India VIX (Volatility) index is down 2.4 percent at 16.995.

The CNX Midcap index has advanced 0.7 percent to 12,669, and the Smallcap index has added 1.4 percent to 5,510.

The breadth too is fairly positive - out of 1,711 stocks traded on the NSE, 934 have advanced and 506 have declined so far in trades.

Axis Bank is the major gainer in the Nifty-50. The stock is up over 3 percent at Rs. 552 ahead of its results today.

Tech Mahindra, Gail India and HCL Technologies have rallied 2.3 percent each to Rs. 623, Rs. 366 and Rs. 890, respectively.

Wipro, UltraTech Cement, ICICI Bank and Sun Pharma have advanced around 2 percent each to Rs. 544, Rs. 2,743, Rs. 333 and Rs. 943, respectively.

Lupin, Tata Steel and Yes Bank are the other prominent gainers.

On the other hand, Sesa Sterlite has plunged 4 percent to Rs. 204. The company is also scheduled to announce its earnings today.

Idea has reversed its early morning gains, and is now down 3 percent at Rs. 186.

ITC and Cairn India have dropped 2 percent each at Rs. 331 and Rs. 209, respectively.

Tata Motors, HDFC, Hindalco, Asian Paints and Kotak Bank are the other notable losers.

Ambuja Cements Q1 net falls 39% to Rs. 317.7cr; operating margin at 20.7%

Total Income has decreased from Rs. 27,811.90 mn for the quarter ended March 31, 2014 to Rs. 25,581.40 mn for the quarter ended March 31, 2015. 

Ambuja Cements Ltd has announced the following results for the quarter ended March 31, 2015

The Unaudited results for the Quarter ended March 31, 2015

The Company has posted a net profit of Rs. 3,176.90 million for the quarter ended March 31, 2015 as compared to Rs. 5,200.10 million for the quarter ended March 31, 2014.

Total Income has decreased from Rs. 27,811.90 million for the quarter ended March 31, 2014 to Rs. 25,581.40 million for the quarter ended March 31, 2015. 

Alembic, Torrent soar on new drug approval

Both the stocks have soared over 10 percent after US FDA approved first generic versions of Abilify.

Alembic Pharma and Torrent Pharma are trading on a firm note following the early morning rally after the US FDA approved some of its new drugs.

According to a release issued on the US FDA (Food and Drug Administration) website, the US FDA has approved the first generic versions of Abilify (aripiprazole). Generic aripiprazole is an atypical antipsychotic drug approved to treat schizophrenia and bipolar disorder.

Alembic Pharmaceuticals, Hetero Labs, Teva Pharmaceuticals and Torrent Pharmaceuticals have received FDA approval to market generic aripiprazole in multiple strengths and dosage forms, the release added.

Alembic Pharma soared over 10 percent to touch a high at Rs. 496, and is now up 6.6 percent at Rs. 480. The counter has seen trades of around 73,000 shares as against the two-week daily average volume of around 48,000 shares on the BSE.

Torrent Pharma zoomed nearly 11 percent to a high of Rs. 1,323, and is now up 3.1 percent at Rs. 1,230. Around 26,000 shares have changed hands at the counter so far on the BSE, almost 3-times higher when compared with its two-week daily average volume of around 9,000-odd shares.

Meanwhile, the Sensex has recouped some of the losses and is now down 146 points at 27,251.

Financial lessons to learn from Nepal Earthquake

Geologists have already warned about more such earthquakes and have identified nearly 38 Indian cities in high-risk seismic zones.

There are lessons to be learned from 7.8 magnitude earthquake that jolted Nepal and several parts of India. The earthquake is nature's reminder about how vulnerable we are to the natural calamities. Yet the message often gets lost after a while once the media turns to a new story and rescue operations are over. But, the pain and problems of people in earthquake-hit regions continue for years as they struggle to overcome the loss of the lives of their loved ones and their homes.

Geologists have already warned about more such earthquakes and have identified nearly 38 Indian cities in high-risk seismic zones. The situation has again highlighted the need of insurance in each one of our lives, which is often neglected by people. Having appropriate insurance in place can redeem one from certain problems to a larger extent.

Life Insurance
Some see life insurance as an unnecessary cost, but its significance becomes meaningful when people are hit by natural calamities. Breaking down the calculation, if a Rs. 50 lakh term life cover costs Rs. 8,000-Rs. 10,000 then it takes between Rs. 20-30 a day for a person to get himself insured against unfortunate events. The cost is justifiable for a family, which is dependent on a single earning member.

Home Insurance
Another trashed idea is that of buying a home insurance. People buy homes worth lakhs from their hard earned earnings but do not factor in the need to preserve their most valued possession from natural calamities. Only 1% of the homeowners have appropriate home insurance in place, as per the recent data. It is surprising that people fail to pay Rs. 6-12 a day towards insuring their home, which is exposed to several dangerous possibilities. It takes anywhere between Rs. 2,000-4,200 a year to insure a 35-70 lakh worth property, which is reasonable enough to encourage people buy home insurance. 

Icertis raises $6 million in Series A led by its partners

The new funding will enable the company to rapidly scale sales and marketing and further build out its award winning contract lifecycle management product. 

Icertis, the leader in enterprise contract lifecycle management software in the Microsoft Cloud, announced today the close of a $6.0MN Series A round led by Greycroft Partners and Fidelity Growth Partners India. The new funding will enable the company to rapidly scale sales and marketing and further build out its award winning contract lifecycle management product. A born in the Microsoft cloud software startup, Icertis raised a seed round in 2012, and has seen multifold year-over-year customer and revenue growth for the last two years.


The Icertis Contract Management (ICM) product brings comprehensive capabilities to manage sell-side, buy-side, and corporate contracts on one platform. ICM is delivered on the cloud and is extraordinarily easy to use, highly configurable, quick to deploy, and can be readily integrated with other systems through open interfaces. ICM can revitalize an enterprise’s contracting operations to not only improve governance and visibility, but also significantly boost the ability to realize hidden commercial value in contracts.

“Today’s hypercompetitive global business requires the contracting process to be easy and agile on one hand, and compliant and controlled on the other” says Samir Bodas, Co-Founder and CEO of Icertis. “ICM ensures CxOs are able to manage contracting risk and have full end to end visibility of all contracts, while at the same time enable employees to contract with customers, partners and vendors in a self-service mode, within guard rails, and engage the right specialist resources, like legal and finance, only to manage exceptions and critical issues” Icertis Contract Management can increase contracting throughput by more than 50% in both order-to-cash and procure-to-pay business processes. Its rich analytics and reporting features help managers stay on top of contractual risk, quantify contractual performance, and increase negotiation intelligence.

“Though the company is young, Icertis has an impressive list of customers including Microsoft, Roche, Hyundai HATA, Chemonics, and SunEdison. We were also impressed by the quality of their product, the stellar team, and their ability to execute,” said Mark Terbeek, Partner at Greycroft Partners. “Contract Lifecycle Management is a multi-billion dollar category, and Icertis is in pole position to lead in this space.”

“With Microsoft Azure, Icertis has built a cost-effective, robust enterprise-class service that can be delivered from anywhere in the world and not need to worry about large infrastructure costs or maintenance.” said Takeshi Numoto, CVP for Cloud + Enterprise Marketing at Microsoft. “We’re excited to have Icertis as a Microsoft Cloud ISV partner to the benefit of our customers, and use Icertis to manage our NDAs and other contracts at Microsoft.”

Gartner recently named Icertis as a Cool Vendor in the report “Cool Vendors in Procurement and Sourcing Technology, 2015”, Deborah R Wilson, Magnus Bergfors, published 13 April 2015. According to Gartner, “Ease of use and intuitive navigation are no longer “unattainable” in more complex enterprise applications, such as contract life cycle management.”

Kalpataru Power surges 4% after winning new orders

Kalpataru Power said that it has secured new orders worth around Rs. 756 crore. 

Kalpataru Power Transmission (KPTL) is trading on a strong note in early morning deals on the BSE, on the back of winning new orders.

According to a release issued by the company to the BSE, Kalpataru Power a leading global EPC player in the power & infrastructure contracting sector yesterday said that it has secured new orders worth around Rs. 756 crore.

The stock has rallied to a high at Rs. 240, and is now up over 3.5 percent at Rs. 237.

The counter has seen trades of around 17,000 shares as against the daily average volume of 180,000 shares in the past two weeks.

Meanwhile, the BSE Sensex is only down 12 points at 27,408

Geometric targets to achieve double-digit EBITDA by FY16: Manu Parpia

For the coming quarters the company aims to focus on improving the EBITDA margins. 

On Monday, Geometric announced its Q4 results. The company’s consolidated revenues rose 0.9% to Rs. 11,053.01 mn from Rs. 10,954.52 mn last year. The Profit after Tax for the year stood at Rs. 551.63 mn as against Rs. 462.43 mn for FY14. For the quarter ended March 31, 2015 (Q4 FY15) the company recorded operating revenues of Rs. 2,679.00 mn, as against revenues of Rs.2,888.89 mn in the previous quarter, and Rs. 2,733.62 mn in the corresponding quarter last year. Revenue of Geometric (excluding its joint venture company, 3DPLM) was at Rs. 1,965.63 mn, as against Rs. 2,154.22 mn in Q3FY14 and Rs. 2,001.03 mn in Q4FY13.

In an interview with CNBC TV18, Manu Parpia, MD & CEO, Geometric said that one of the reason for decline in profitability was weakening of euro and anticipates that the euro will be weaker in the coming quarters but that will not affect the profits. He also mentioned that USD 1.5 million reversal of revenue, which is around Rs. 9 crore and contributed to the bottomline, led to further decrease in profitability.

For the coming quarters the company aims to focus on improving the EBITDA margins. Talking about steps taken to improve margins, he said, "One part is to grow revenues the other part is to look at cost and so, we are really looking at being more efficient, improve our utilisation. So these are all pretty standard metrics that we need to drive and ensure we adhere to".

In USD terms, the company declared operating revenues of USD 42.92 Mn for the quarter ended March 31, 2015 compared to revenues of USD 46.60 Mn in the last quarter, and USD 44.29 Mn in Q4FY14. Geometric standalone there was a small growth but on a consolidated basis there was a decline because of there 3D PLM subsidiary in dollar terms. While in rupee terms has shown a growth and in dollar terms it hasn't.

The company's target is to achieve double digit EBITDA by the end of the year on a quarter basis. Further, they have no plans on revenue de-growth. The company expects a decent deal pipeline. However, Parpia chose not to comment on the rumors regarding plans to stay put or looking for buyers.

Stock Price:

The stock of the company closed at Rs. 128.85. The stock closed down 10.05% from its previous close which was at Rs. 143.25. It hit a high at Rs. 135.45 and low at Rs. 122.75. The total traded quantity was 4.16 lakh and two week average quantity is 2.14 lakh.

Back in the red! Sensex, Nifty slip

The BSE Mid-cap Index is trading up 0.13% at 10,382, whereas BSE Small-cap Index is trading up 0.38% at 10,882.

After gaining in yesterday's trade, the market today has started the day on a tentative note, as the investor's are cautious ahead of futures & option expiry for the month of April tomorrow.

The BSE Sensex opened almost unchanged at 27,395 and the NSE Nifty was down ten points at 8,274 at the opening bell.

At 9:26 AM, the S&P BSE Sensex is trading at 27,350 down 47 points, while NSE Nifty is trading at 8,264 down 22 points.

The BSE Mid-cap Index is trading up 0.13% at 10,382, whereas BSE Small-cap Index is trading up 0.38% at 10,882.

Some buying activity is seen in healthcare, consumer durables and realty sectors, while IT, capital goods, oil& gas, fmcg and banking sector are showing weakness on BSE.

Sun Pharma, Dr. Reddy's Lab, NTPC, ICICI Bank and Axis Bank are among the gainers, whereas Bharti Airtel, Sesa Sterlite, ITC, TCS, Tata Motors and State Bank of India are losing sheen on BSE.

Sector rotations could take place as investors look to nibble into mostly large caps which have shed weight in recent times. Though many mid-caps have been pounded, it’s best to exercise caution on many of those counters for now. Sun Pharma could see some upmove after it got US FDA nod for painkiller Oxymorphone Hydrochloride. Telecom counters may ring differently with Bharti falling short of expectations while Idea managed a decent show in their quarterly numbers.

Biocon, HDFC, Axis Bank, Ambjuja Cements, TVS Motors and Hexaware Technologies are among the stocks which will be in focus today on account of their results. Ahead of the F&O expiry further short-covering could be witnessed in select counters today.

On Wall Street the Dow and S&P clocked gains while Nasdaq dipped marginally. Meanwhile, China's central bank has clarified that it is not planning to buy up local-government bonds as reported in a section of the press.

Reliance Power on Tuesday said its wholly owned subsidiary, Jharkhand Integrated Power Ltd (JIPL), has exited the 3,960 MW Tilaiya Ultra Mega Power Project blaming non-availability of land and issues related to forest clearances for cancelling the Power Purchase Agreement (PPA) signed with 18 power companies across 10 States.

Bharat Forge and Punj Lloyd have emerged as the only contenders for a Rs 16,800-crore mega contract to replace the ageing anti-aircraft guns of the Indian Army, says a report.

Even as the government back-tracked from its resolve to take up the GST bill for consideration today, and rescheduled it to next week, senior Congress leaders have decided to hold fresh rounds of strategy meeting on their stand after it sensed that two government friendly non-NDA parties — AIADMK and BJD — were playing hardball with the government on the crucial legislation, a report stated.

In Nifty-50 stocks - Sesa Sterlite has dropped over 2 percent at Rs. 207. ITC and Bharti Airtel have shed over 1.5 percent each at Rs. 332 and Rs. 394, respectively.

TCS, Bharti Airtel, HCL Technologies and Asian Paints are the other prominent losers.

On the other hand, Idea Cellular, Sun Pharma, Tata Steel and Lupin are the major gainers, up over a percent each at Rs. 194, Rs. 936, Rs. 376 and Rs 1,742, respectively. 

Motherson Sumi unit wins large order from Diamler

MSSL estimates these orders to generate sales revenues of approximately Rs. 15,400 cr over its lifetime and expected to commence from calendar year 2018.

The global automotive supplier Motherson Sumi Systems Ltd. (MSSL) through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has received a significant set of orders for the supply of a range of exterior and interior systems for several future Mercedes-Benz vehicle generations. MSSL estimates these orders to generate sales revenues of approximately Rs. 15,400 crores (Euro 2.2 billion approx.) over its lifetime and expected to commence from calendar year 2018.

To support Daimler’s expansion activities, MSSL will invest in 2 new plants, one each in the USA and Hungary which will enable SMRP BV to be closer to Daimler’s vehicle assembly plants, along with capacity expansion in existing plants in Germany as well as new machines, tools and product development efforts.

All of the mentioned activities are concerning operations of SMRPBV‘s division SMP (Samvardhana Motherson Peguform), which was acquired in 2011. SMP is a technology and market leader for bumpers, door panels and cockpits with strong footprint in Europe, Mexico, Brasil and China. It is a major supplier to car manufacturers in Europe, especially the German car makers. SMP’s new plant in Hungary will be located close to Daimler’s operations in Kecskemet. With the establishment of the new plant in the region around Tuscaloosa, close to Daimler’s assembly plant, SMP enters an important strategic growth market - USA which had been a ‘white spot’ for SMP so far.

Results watch: Hexaware Technologies, Biocon in focus

The results which are expected today are Axis Bank, HDFC, Federal Bank, Laxmi Vilas Bank, Sanofi India, Sesa Sterlite, Kajaria Ceramics, Biocon, Raymond, Hexaware Technologies, Shree Cement,

The results which are expected today are Axis Bank, HDFC, Federal Bank, Laxmi Vilas Bank, Sanofi India, Sesa Sterlite, Kajaria Ceramics, Biocon, Raymond, Hexaware Technologies, Shree Cement, TVS Motor Company, TCI Finance, Tata Metaliks, Shriram Asset Management, Gateway Distriparks, Dewan Housing Finance Corporation, Alstom India, Ambuja Cements, Welspun India, Accelya Kale Solutions, Aptech, Avantel, Fortis Malar Hospitals, Next Mediaworks, Man Industries, Roselabs Finance, Kesoram Industries, SNL Bearings, Shanti Gears, RPG Life Sciences.