Adani Ports Q1 cons total income up 6%

Consolidated cargo across all ports handled by the company was 76 MMT in H1FY16, an increase of 10%, over corresponding period last year.

Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter and half year ended September 30, 2015.

Consolidated cargo across all ports handled by the company was 76 MMT in H1FY16, an increase of 10%, over corresponding period last year. Adani ports at Mundra handled 57 MMT cargo in H1FY16 thereby continuing its leadership as the largest commercial port in India. In case of containers, the Mundra port handled 1.48 million TEUs in H1FY16 as against 1.35 million TEU’s in corresponding period last year resulting in a 10 % growth as compared to growth of 2% aggregate growth in container volumes at all the major ports.  

Consolidated cargo handled by the company was 36 MMT in Q2FY16, an increase of 4%, over corresponding period last year. Also, in case of containers, the Mundra port handled 0.73 million TEUs in Q2FY16 as against 0.67 million TEU’s in corresponding period last year showing a 9% growth. 

Our twin ports of Hazira and Dahej handled cargo of 9.88 MMT in H1FY16 thereby showing a growth of 8%.

Consolidated total income including other income increased by 18% to Rs.3,883 crores in H1FY16 as compared to Rs.3,301 crores in the corresponding period last year and consolidated EBIDTA increased by 17% to Rs.2,643 crores in the current half year as compared to Rs.2,251 crores in corresponding period last year.

Consolidated total income increased by 6 % to Rs.1,986 crores in Q2FY16 as compared to Rs.1,868 crores in the corresponding period last year and consolidated EBIDTA increased by 7% to Rs. 1,349 crores in the current quarter as compared to Rs. 1,261 crores in corresponding period last year.

The consolidated PAT for H1FY16 increased by 15% to Rs 1,308 crores, as compared to Rs 1,142 crores in corresponding period last year and in Q2FY16 increased by 16% to Rs 667 crores, as compared to Rs 574 crores in corresponding period last year.

Commenting on the results, Gautam Adani, Chairman, Adani Group said “Our strategic intent is to continue to develop the port infrastructure along the Indian coastline and thereby benefit from the synergies this network brings to APSEZ. We are pleased to have added to our portfolio and signed the concession agreement for the development of the Vizhinjam International Deepwater Seaport with the Government of Kerala. This will give us access to the significant volume of global container traffic that goes past this region”.

Elaborating on the performance, Sudipta Bhattacharya, Chief Executive Officer of APSEZ, said “We continue to improve our mix of cargo across our ports. As we build out our pan India presence, we are also seeing the specific benefits of an increasingly diversified cargo mix that our ports are already handling. This positions us well to continue to capture market share across all types of cargo that are expected to grow as the Indian economy continues to expand”.

Progress on Other Projects:

Adani Ports signed the concession agreement on August 17th, 2015 with Kerala State Government for development and operation/maintenance of the Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode on DBFOT basis.

Adani Ports entered into a non-binding MOU with LTSB for operations of the port at Kattupalli, Tamil Nadu.

Mundra Solar Techno Park Pvt Ltd has got letter of approval from the Ministry of Commerce & Industry for developing Electronic Manufacturing Cluster (EMC) as a SEZ Co-developer.

Adani Food & Agro Processing Park Pvt Ltd has got letter of approval from the Ministry of Commerce & Industry for developing Mega Food Park as a SEZ Co-developer.

RCOM approves merger deal with Sistema Shyam

Reliance Communications Ltd and Sistema JSFC, a publicly-traded diversified holding company in Russia and the CIS announced the signing of definitive documents for demerger of Sistema’s Indian wireless business, carried on by Sistema Shyam Teleservices Ltd. (SSTL) under the MTS brand, into RCOM.

Reliance Communications Ltd. (RCOM), one of India’s leading fully-integrated telecommunications service providers, and Sistema JSFC, a publicly-traded diversified holding company in Russia and the CIS, today announced the signing of definitive documents for demerger of Sistema’s Indian wireless business, carried on by Sistema Shyam Teleservices Ltd. (SSTL) under the MTS brand, into RCOM.

RCOM will acquire approx. 9 million customers and approx. Rs. 1,500 crore of annual revenues by virtue of the transaction.

In addition, RCOM will acquire SSTL’s most valuable and superior 800 / 850 MHz band spectrum, ideally suited for 4G LTE services, to complement its own unique nationwide footprint of minimum 5 MHz contiguous 800 / 850 MHz spectrum aggregating 148.75 MHz.

This will extend the validity of RCOM’s spectrum in 800 / 850 MHz band in 8 important circles by a period of 12 years from 2021 till 2033 (Delhi, Gujarat, Tamil Nadu, Karnataka,Kerala, Kolkata, UP (West) and West Bengal).

As result of the demerger, SSTL will acquire and hold a 10% equity stake in RCOM. In addition, RCom will assume the liability to pay the DoT instalments for SSTL's spectrum, amounting to Rs. 392 crore per annum for the next 10 years.

Prior to Closing of the Transaction, SSTL intends to pay off its existing debt. An appropriate payment / earn-out mechanism has been agreed in relation to disputed spectrum contiguity charges claimed by DoT.

Gurdeep Singh, President & Chief Executive Officer, Consumer Business, Reliance Communications, said, “We are delighted to welcome Sistema Shyam TeleServices Ltd. as a valued shareholder and partner in Reliance Communications Ltd.

The combination of our wireless businesses, through the demerger of SSTL wireless business into RCOM for stock consideration, will generate significant capex and opex synergies for mutual benefit.

The Indian data market is witnessing explosive growth, and SSTL's proven strengths in that space will further enhance RCOM's capabilities in delivering a superior experience to our valued customers. We are pleased that the addition of SSTL's valuable spectrum holdings in the 800 - 850 MHz band will strengthen RCOM's spectrum portfolio, and extend our ability to provide world class 4G LTE services to our customers in 8 important circles in the country till the year 2033, he added.”

Mikhail Shamolin, President and CEO of Sistema, said, “The merger of SSTL and RCOM's telecom businesses is a milestone event. Despite the numerous challenges the

sector faced in recent years, the combination of two leading data service providers is a clear sign of progress for the Indian telecom industry. We are confident that SSTL’s entry into the equity capital of RCOM as a strategic investor will strengthen the competitive position of the combined company and provide subscribers with superior experience by fasttracking the growth of LTE technology in India.

Taskbob.com acquires Zepper.in

With the added strength of Zepper, Taskbob will now have access to the company’s 300-400 service professionals catering to 2500 customers with a robust database of 600 service professionals serving 50,000 happy households.

Taskbob.com, India’s most reliable home services platform today announced acquisition of Zepper.in, a Bengaluru based web portal which offers consumers in the city practical solutions related to finding trusted, effective professionals for common household services such as home cleaning, drivers, home repairs, etc. With this acquisition, Taskbob readies itself to expand footprint into a new geography, Bengaluru after its tremendous success in Mumbai.

With the added strength of Zepper, Taskbob will now have access to the company’s 300-400 service professionals catering to 2500 customers with a robust database of 600 service professionals serving 50,000 happy households.

The acquisition will further help Taskbob augment its outreach in Bengaluru, a city known for its strong working population. Keeping the upcoming festive season in mind, Taskbob aims to focus on its cleaning services and thus gain a strong foothold in the city.

Commenting on its first acquisition, Aseem Khare, Founder & Chief Executive Officer, Taskbob.com said, “At Tasbob, we are committed to becoming a one-stop shop to deliver exceptional and quality on-demand home services such as cleaning, driver, home repair to simplify customer’s daily lives. With the acquisition of Zepper.in, we aim to leverage our robust technology platform, and industry experience to replicate our success in the Bengaluru market. We aim to service around 1000 orders a day in Bengaluru over the next 6-9 months.”

“In the recent past, the hyperlocal home services industry has seen exponential growth fragmented with multiple players and poised to become the next centre of growth.  Our acquisition of Zepper, signals the beginning of consolidation in the industry” he further added.

Taskbob.com aims to create happy households by providing instant reliable home services to consumers. To deliver this vision, Taskbob follows a stringent recruitment process comprising of a mix of skill and psychometric tests to hire the top 20% servicemen of the industry. Once on board, Taskbob consistently invests in training and skilling its servicemen to deliver high-quality service to the consumer.

Atul stock surges 3%: Q2 net profit surges 3%

The company reported standalone net profit at Rs. 84.46 crore for the quarter, registering increase of 42.98% yoy

Atul Ltd stock was higher by 3% at Rs. 1722. The company reported standalone net profit at Rs. 84.46 crore for the quarter, registering increase of 42.98% yoy. 

The scrip opened at Rs. 1700 and has touched a high and low of Rs. 1785 and Rs. 1699.8 respectively. So far 90235(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4948.77 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1701 on 30-Oct-2015 and a 52 week low of Rs. 1034.35 on 26-Mar-2015. Last one week high and low of the scrip stood at Rs. 1701 and Rs. 1530.3 respectively.

The promoters holding in the company stood at 50.83 % while Institutions and Non-Institutions held 20.43 % and 28.73 % respectively.

The stock is currently trading below its 50 DMA.

Coffee Day Enterprises Shares Sink on Debut

Coffee Day Enterprises shares dropped as much as 14.5 per cent on the first day of trade on Monday. The company that runs the Cafe Coffee Day retail chain had raised Rs 1,150 crore through its initial public offer in October.

Shares in Coffee Day Enterprises hit a low of Rs 290.70 on the Bombay Stock Exchange as against their issue price of Rs 328. Coffee Day Enterprises IPO was subscribed 1.64 times.

TS Harihar of HRBV Client Solutions told NDTV that Coffee Day Enterprises shares are "fairly valued".

"There is certainly a novelty value to it because you don't have a similarly listed stock in the market, but Rs 328 seem to be fairly valued at this point of time," Mr Harihar added.

Many analysts had cautioned investors about the company's lack of profitability ahead of the IPO. Coffee Day Enterprises has been posting losses for the last three years (FY15 net loss at Rs 87 crore) because of high depreciation and interest costs.

Analysts had also pointed that the company pays a huge interest on the high debt (Rs 4,500 crore according to ICICI Securities) it has on its books. Coffee Day Enterprises said it will pay more than half of the Rs 1,150 crore raised for repayment of debt.

Coffee Day Enterprises had raised over Rs 334 crore from anchor investors ahead of the IPO, while in March, the firm had mobilised Rs 100 crore in a pre-IPO funding from Nandan Nilekani and Rare Enterprises (owned by Rakesh Jhunjhunwala and Ramesh Damani), among others.

As of 10.16 a.m., Coffee Day Enterprises shares traded 9.2 per cent lower at Rs 297.95 as against 0.5 per cent decline in the broader Nifty.

India October Nikkei Manufacturing PMI slips to 22 month low; stands at 50.7 Vs 51.2 (MoM)

Sector data indicated that consumer goods was the best performing category in October, while improving operating conditions were also seen in the intermediate goods sub-sector. Conversely, capital goods firms saw business conditions deteriorate in the latest month as output and new orders declined for the first time since September 2014 and August 2014 respectively.

Business conditions across the Indian manufacturing economy improved further in October. That said, the latest PMI dataset highlighted weaker growth of both output and new orders. Encouragingly, companies added to their worforces for the first time since January and continued to increase buying levels. On the price front, both input costs and factory gate charges rose, albeit at rates that were below their respective long-run averages.

Posting a 22-month low of 50.7 in October (September: 51.2), the seasonally adjusted Nikkei India Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – was indicative of a weaker improvement in business conditions across the sector. Nonetheless, the PMI has recorded above the crucial 50.0 threshold in each month since November 2013.

Output growth eased in October on the back of a slower increase in new orders. Rates of expansion in both production and order books were the weakest in their current 24-month sequences of growth, with panellists reporting challenging economic conditions and a reluctance among clients to commit to new projects.

Sector data indicated that consumer goods was the best performing category in October, while improving operating conditions were also seen in the intermediate goods sub-sector. Conversely, capital goods firms saw business conditions deteriorate in the latest month as output and new orders declined for the first time since September 2014 and August 2014 respectively. New business from abroad placed with Indian manufacturers rose for the twenty-fifth straight month in October. However, growth was littlechanged from the marginal pace seen in September.

Despite the slowdown in new order growth, manufacturers hired additional workers in October. Employment rose for the first time since January, although only marginally. Those companies reporting higher staffing levels commented on expectations of a pick up in demand in coming months.

October saw inflationary pressures return to India’s manufacturing economy. Average purchase costs rose, amid reports of higher metal, paper and food prices. The rate of increase was, however, only slight in the context of historical data. Part of the additional cost burden was passed on to clients as tariffs were raised. Nonetheless, the rate of charge inflation was marginal overall.

Buying levels rose for the twenty-fourth consecutive month in October, although at the weakest pace since December 2013. Meanwhile, stocks of purchases were broadly unchanged whereas holdings of finished goods fell further.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at Markit and author of the report, said, “PMI data for October show a further loss of growth momentum across the Indian manufacturing economy, with a slower rise in new business inflows resulting in a weaker expansion of output. “Undeterred by tough economic conditions overall, firms took on extra staff in October. This, combined with a further drop in inventories of finished goods, suggests that production growth may rebound in coming months.

“Looking deeper into the data, consumer goods was – once again – the bright spot, with growth rates for both output and new orders being the strongest among the three market groups. Capital goods, meanwhile was the weakest link as new business inflows and production fell during October.

“A return to inflationary pressures, meanwhile, indicates that the RBI may pause its loosening cycle for the rest of the year following a 50 bps cut to the key repo rate in September. Upcoming survey data will show how effective the central bank’s effort to revive the economy has been.”

Bajaj Auto stock down 4% on Oct sales

Bajaj Auto sales for October stood at 3.53 lk units.

Shares of Bajaj Auto Ltd were lower by 4% at Rs. 2444. Bajaj Auto Ltd sales for October stood at 3.53 lk units.

The motorcycle sales was at 3.08 lakh units (yoy).

The export is at 1.27 lakh units for October.

The scrip opened at Rs. 2530.3 and has touched a high and low of Rs. 2555 and Rs. 2422.65 respectively. So far 216278(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 73777.78 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2690 on 24-Nov-2014 and a 52 week low of Rs. 1913.8 on 30-Apr-2015. Last one week high and low of the scrip stood at Rs. 2599 and Rs. 2520 respectively.

The promoters holding in the company stood at 49.29 % while Institutions and Non-Institutions held 25.89 % and 24.81 % respectively.

The stock is currently trading below its 100 DMA.

Not a cup that cheers! Coffee Day Enterprise lists lower, down 6%

Coffee Day Enterprise listed at Rs. 315/share as against issue price of Rs. 328/share

Coffee Day Enterprise listed at Rs. 315/share as against issue price of Rs. 328/share.

The stock is currently trading at Rs. 295, down 6%.

The stock has hit a high of Rs. 317 and a low of Rs. 280.

The IPO closed on October 16 and got oversubscribed 1.81 times. 

The shares reserved for qualified institutional buyers (QIBs) was subscribed nearly 4.4 times. 

Coffee Day Enterprises Ltd. (“CDEL”) is the parent company of the Coffee Day Group, which currently operates in businesses such as coffee, development and management of IT-ITES technology parks, providing integrated logistics solutions, financial services, hospitality and investing in technology companies. 

The Company also has investments in certain IT-ITES and other technology companies such as Mindtree in which it owns a 16.75% equity holding (effective holding being 16.04%) as of June 30, 2015 and in which the Promoter, V.G. Siddhartha, additionally owns 3.01%. Other investee companies include Ittiam, Magnasoft and Global Edge.

India to be world's largest cotton producer

The United States Department of Agriculture (USDA) says that the global cotton production during 2015-16 has been estimated at 23.68 million tonnes, down 8.6 per cent versus the previous season.

With the domestic cotton production estimated at ~400 lakh bales, India is expected to emerge as the largest cotton producer in the world in 2015-16, reports a business daily.

The United States Department of Agriculture (USDA) says that the global cotton production during 2015-16 has been estimated at 23.68 million tonnes, down 8.6 per cent versus the previous season. 

Cotton production in China and the US has been estimated to fall by 13.3 per cent and 17.7 per cent, respectively.

USDA estimates suggest that India's cotton production would be ~400 lakh bales of 170 kg each, lifting the nation to the numero uno position, according to the financial newspaper.

USDA expects India's cotton yield to fall to 524 kg per hectare versus the yield of 527 kg in the previous season due to second successive deficient monsoon, the daily adds.  

NTPC eyes low-cost RLNG from offshore spot markets

The RLNG currently available in the spot market is priced at US$7/mmBtu compared with US$11-$12/mmBtu provided by GAIL, the daily adds.

NTPC is reportedly looking to source low-cost re-gasified liquid natural gas (RLNG) from spot markets overseas to improve margins.

A senior NTPC official told the newspaper that NTPC would rely on buying RLNG at spot prices that is cheaper by US$3-4/mmBtu than gas contracted through long-term contracts, reports a financial newspaper.

The RLNG currently available in the spot market is priced at US$7/mmBtu compared with US$11-$12/mmBtu provided by GAIL, the daily adds.

NTPC, which holds over 25% stake in Ratnagiri Gas & Power Ltd. (RGPPL), which is entitled to subsidised gas, is unable to generate any return on equity (ROE), reprots the business daily. 

The idea is to get spot RNLG for supplying power to industrial units as long-term PPAs with states is impractical for RGPPL power when coal-based is available to them at a cheaper rate, the newspaper adds.

It may be recalled that power generation at the 1,967 MW RGPPL had been halted for over more than a year due to the unavailability of cheaper domestic gas. 

RGPPL recently secured enough imported subsidised RLNG to run the plant at just over 25% plant load factor that would produce 500 MW. The Indian Railways has agreed to buy power from RGPPL.

Tata Motors, M&M, ICICI Bank among 25 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

NTPC: NTPC is reportedly looking to source low-cost re-gasified liquid natural gas (RLNG) from spot markets overseas to improve margins.

L&T: The company has posted a net profit of Rs. 1188.4 crore for the quarter ended September 30, 2015 as compared to Rs. 1042.2 crore for the quarter ended September 30, 2014. Total Income has increased from Rs. 13,320.2 crore for the quarter ended September 30, 2014 to Rs. 13,721.8 crore for the quarter ended September 30, 2015.

Glenmark Pharmaceuticals: The pharma company has received tentative approval from the US health regulator for its Lacosamide tablets.

NALCO: National Aluminium Company Ltd has reportedly planned to invest US$2.80 billion to build a smelter and a captive power unit in either Iran or Oman. The proposed 5 lakh tonne-per-year smelter will run on surplus alumina from NALCO's existing and proposed Indian refineries.

Mahindra & Mahindra: The auto company reported 20% increase in total sales at 51,383 vehicles in October. The domestic sales were up by 21% to 48,815 units last month as against 40,278 units in October 2014.

Shree Cement Ltd: The company has informed BSE that Cement Grinding Unit of 2 million Tons Per Annum (MTPA) Capacity of the Company at Bulandshahr in Uttar Pradesh has been commissioned on October 30.

Tata Motors: Total sale of Tata Motors passenger and commercial vehicles (including exports) were at 43,486 vehicles, higher by 1%, over 42,862 vehicles, sold in October 2014. The domestic sale of Tata commercial and passenger vehicles for October 2015 were at 38,917 nos., remained flat, over vehicles sold in October 2014.

ICICI Bank Ltd: The bank has posted a net profit of Rs. 34185.30 mn for the quarter ended September 30, 2015 as compared to Rs. 30646.20 million for the quarter ended September 30, 2014.

Granules India:  Granules India posted a net profit of Rs. 31 crore for the second quarter ended September 30, 2015, an increase of 40% over Rs. 22 crore registered during the corresponding quarter last year.

Kotak Mahindra Bank Ltd: The bank has posted a profit after tax of Rs. 9418.90 mn for the quarter ended September 30, 2015 where as the same was at Rs. 7179.30 mn for the quarter ended September 30, 2014.

IDFC: The company has posted a net loss at Rs.  1,469 crore for the quarter ended September 30, 2015 as compared to Net Profit of Rs. 421.4 crore for the quarter ended September 30, 2014. Total Income has increased from Rs. 2,487.5 crore for the quarter ended September 30, 2014 to Rs. 2,512.9 crore for the quarter ended September 30, 2015.

Ipca Laboratories Ltd: The company has posted a net profit crashed by 80% at Rs. 116.90 mn for the quarter ended September 30, 2015 as compared to Rs. 613 mn for the quarter ended September 30, 2014.

Ajanta Pharma: The pharma company reported 20.3 per cent rise in its net profit at Rs. 99.9 crore for the quarter ended September 30, 2015 as compared to Rs. 83 crore for the same quarter in the previous year. The company’s total income has increased by 17.7 per cent to Rs. 443.1 crore for the quarter under review from Rs.376.3 crore for the corresponding quarter of the previous year.

Apollo Tyres: The company reported 8 per cent rise in its net profit at Rs.278.7 crore for the quarter ended September 30, 2015 as compared to Rs.257.9 crore for the same quarter in the previous year

Cox & Kings Ltd: The company reported a profit of Rs. 118 crore for the second quarter ended September 30.

Vinati Organics: The net profit for the quarter stands at Rs. 31.1 crore. The total income for Q2 is at Rs. 163 crore.

Atul: The company reported standalone net profit at Rs. 84.46 crore for the quarter, registering increase of 42.98% yoy. 

Divis Laboratories: The pharma company reported 28.7 per cent rise in its net profit at Rs. 295.7 crore for the quarter ended September 30, 2015 as compared to Rs.229.6 crore for the same quarter in the previous year. It's net sales has surged by 16% to Rs. 962 cr for the second quarter ended September 30, 2015 as against Rs. 830 cr in the same period a year ago.

GlaxoSmithKline Pharmaceuticals Ltd: The pharma company posted a net profit from ordinary activities of Rs. 960.50 mn for the quarter ended September 30, 2015 as compared to Rs. 1286.70 mn for the quarter ended September 30, 2014.

JK Cement Ltd: The net profit for the quarter stands at Rs. 13.7 crore as compared to Rs. 32.3 crore. For Q2, the total income is at Rs. 870.3 crore.

Suzlon Energy: The company reported a consolidated loss of Rs 181.10 crore for the quarter ended September 30, 2015.Total Income is Rs. 17,964 crore for the quarter ended September 30, 2015 where as the same was at Rs. 53,918 crore for the quarter ended September 30, 2014.

Indoco Remedies: Indoco Remedies posted net revenues of Rs 247.7 crores for the second quarter of July-Sept, up by 9.4 %, as against Rs 226.4 crores for the same period last year. Profit After Tax (PAT) for the quarter was at Rs 22.6 crores compared to Rs 22.4 crores in the corresponding quarter last year.

Karnataka Bank: The bank reported 15.4 per cent rise in its net profit at Rs.102 crore for the quarter ended September 30, 2015 as compared to Rs.88.4 crore for the same quarter in the previous year.

Century Textiles & Industries Ltd: The company has posted a net loss of Rs. 242.60 mn for the quarter ended September 30, 2015 as compared to net profit Rs. 7.70 mn for the quarter ended September 30, 2014.

Shoppers Stop: The company's net profit declined by 19% at Rs. 12.8 crore. The company's total income increased by 4.5% at Rs. 894 crore from Rs. 855 crore in the same quarter previous year.