Smelling Success on listing! SH Kelkar and Company makes impressive debut

The Company proposes to use the Issue proceeds for repayment/pre-payment in full or in part of certain loans availed by the Company, Investment in their wholly owned subsidiary K.V. Arochem Private Limited and general corporate purposes.

S H Kelkar and Company is trading at Rs. 202.95  after listing around 25% higher than its issue price of Rs. 180 per share. The company raised Rs. 508 crore through IPO and was over-subscribed 19.74 times. The stock opened at Rs. 223.70 as against the issue price of Rs. 180 on NSE. It hit a high of Rs. 225 and a low of Rs. 200 on NSE today. Total traded quantity on the counter stood at over 1.13 lk shares on NSE around 11 am. Meanwhile, the NSE Nifty is trading flat at at 7,766.

One of the largest fragrances and flavour companies in India by revenue S H Kelkar and Company Limited, opened its Issue on October 28, 2015. The Company proposes to use the Issue proceeds for repayment/pre-payment in full or in part of certain loans availed by the Company, Investment in their wholly owned subsidiary K.V. Arochem Private Limited and general corporate purposes. The company  has four manufacturing facilities, three of which are located in India (Mumbai, Vapi and Raigad) and one in The Netherlands, with a total installed manufacturing capacity of over 19,819 tons annually. 

Bhushan Steel surges 3%; Q2 net loss at Rs. 733 crore

The Company posted a net loss of Rs. (7327.90) mn for the quarter ended September 30, 2015 where as the same was at net loss of Rs. (2971.90) mn for the quarter ended September 30, 2014.

Bhushan Steel Ltd stock was up by 3% at Rs. 42.The Company posted a net loss of Rs. (7327.90) mn for the quarter ended September 30, 2015 where as the same was at net loss of Rs. (2971.90) mn for the quarter ended September 30, 2014.

Total Income is Rs. 31780.00 mn for the quarter ended September 30, 2015 where as the same was at Rs. 29665.50 million for the quarter ended September 30, 2014.

The scrip opened at Rs. 41.75 and has touched a high and low of Rs. 42.7 and Rs. 41.75 respectively. So far 73989(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 934.37 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 110.35 on 13-Nov-2014 and a 52 week low of Rs. 40.5 on 09-Nov-2015. Last one week high and low of the scrip stood at Rs. 42.8 and Rs. 40.5 respectively.

The promoters holding in the company stood at 59.05 % while Institutions and Non-Institutions held 4.79 % and 36.16 % respectively.

The stock is currently trading above its 200 DMA.

Shaping together! Talwalkars to acquire Inshape Health & Fitness

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market.

Talwalkars Better Value Fitness Ltd has informed BSE that Talwalkars Better Value Fitness Ltd. (TBVF), one of India's largest fitness chains has entered into an agreement to acquire strategic stake in Inshape Health and Fitnez Private Limited (IHPL), a health and fitness center having operations in Chennai.

The investment into IHPL will enable TBVF to further strengthen their presence in a fitness conscious Chennai Market.

The partnership combines TBVF's strong hold in the fitness industry in India with IHPL's expertise in the local industry and market knowledge.

Talwalkars Better value Fitness Ltd is currently trading at Rs. 253.5, up by Rs. 6.7 or 2.71% from its previous closing of Rs. 246.8 on the BSE.

The scrip opened at Rs. 246 and has touched a high and low of Rs. 253.5 and Rs. 244.7 respectively. So far 13206(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 733.12 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 409.8 on 17-Mar-2015 and a 52 week low of Rs. 216 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 252.5 and Rs. 241.4 respectively.

The promoters holding in the company stood at 37.89 % while Institutions and Non-Institutions held 24.9 % and 37.2 % respectively.

The stock is currently trading below its 200 DMA.

Inox Wind commissions 800 MW at its Integrated manufacturing facility in MP

The unit will have an annual production capacity of 400 rotor blade sets and eventually also have an annual manufacturing capacity of 400 nacelles and hubs, 300 towers and will double Inox Wind’s production capacity to 1,600 MW.

Inox Wind Limited, India’s leading wind energy solutions provider to IPPs, PSUs, Corporates, Utilities and Retail clients, is pleased to announce the commissioning of its 800 MW blade facility at its state of the art integrated manufacturing unit at Barwani district in the state of Madhya Pradesh. The unit will have an annual production capacity of 400 rotor blade sets and eventually also have an annual manufacturing capacity of 400 nacelles and hubs, 300 towers and will double Inox Wind’s production capacity to 1,600 MW. The manufacturing plant, which will be amongst the largest in Asia and billed to be the largest in India, will drive investments and economic growth in Madhya Pradesh and provide direct and indirect employment to 5,000 people in the state.

The new manufacturing facility will enhance production of the company’s pioneering 100 meter rotor dia product and enable manufacturing of its game-changing 113 meter rotor dia product. The facility will also aid in efficient transportation of equipment to several wind rich sites in the country.
 
Inox Wind manufactures key components of Wind Turbine Generators in-house to maintain high quality, most advanced technology, reliability and cost competitiveness. It offers complete end to end solutions from concept to commissioning and counts amongst its clients marquee names such as Tata Power, Ostro Energy, Continuum Wind, CESC, GMDC etc. Besides manufacturing and supply of WTGs, the company offers the whole range of turnkey services including wind resource assessment, acquiring land, developing the entire site infrastructure, building the power evacuation system, supplying the WTGs, erection and commissioning services, long term operations and maintenance services as well as postcommissioning support.

“The commissioning of the Madhya Pradesh facility is a significant milestone for Inox Wind. With the government’s renewed thrust on the development of renewable energy along with a supportive regulatory framework, India’s wind market is expected to be one of the world’s fastest growing. The enhanced capacity will enable the company to maintain its position as the leading manufacturer of wind turbine generators in India”said Kailash Tarachandani, Chief Executive Officer of Inox Wind Limited in his statement.

Rajesh Exports Q2 cons net profit up 75%

Total Income has increased from Rs. 109613.94 mn for the quarter ended September 30, 2014 to Rs. 443205.08 mn for the quarter ended September 30, 2015.

Rajesh Exports Ltd posted a net profit after taxes, minority interest and share of profit of associates of Rs. 2798.38 mn for the quarter ended September 30, 2015 as compared to Rs. 1597.65 mn for the quarter ended September 30, 2014. 

Total Income has increased from Rs. 109613.94 mn for the quarter ended September 30, 2014 to Rs. 443205.08 mn for the quarter ended September 30, 2015.

Rajesh Exports Ltd is currently trading at Rs. 698.85, up by Rs. 1 or 0.14% from its previous closing of Rs. 697.85 on the BSE.

The scrip opened at Rs. 701.3 and has touched a high and low of Rs. 716.35 and Rs. 692.6 respectively. So far 235368(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 20607.51 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 724 on 10-Nov-2015 and a 52 week low of Rs. 136.1 on 19-Dec-2014. Last one week high and low of the scrip stood at Rs. 724 and Rs. 606.55 respectively.

The promoters holding in the company stood at 53.89 % while Institutions and Non-Institutions held 20.09 % and 26.02 % respectively.

The stock is currently trading below its 50 DMA.

JSPL, Coal India, Maruti Suzuki among 22 Stocks in focus today

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

Coal India Ltd: Coal India posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs. 25438 mn for the quarter ended September 30, 2015 as compared to Rs. 21923.80 mn for the quarter ended September 30, 2014.

BPCL, IOC, HPCL: Oil Marketing Companies (OMCs) like HPCL, BPCL and IOC will be in focus on the bourses. Petrol price was raised by 36 paise per litre while  diesel prices were increased by 87 paise a litre.

Tata Steel: Tata Steel is considering selling its plant in northern England, as the UK steel industry continues to struggle against a flood of cheap imports from China.

YES Bank: YES Bank has signed a memorandum of understanding with the London Stock Exchange (LSE) for bonds and equity issuance. The focus of these issuances will be on green infrastructure bonds.

Bharti Airtel: The telecom company plans to raise up to £500 million (about Rs.  5,030 crore) through its first bond issue in the British currency and use the proceeds to refinance its current debt.

Kwality: Kwality reported 4 per cent increase in standalone net profit at Rs. 37.89 crore for the September quarter. Total income from operations grew over 10 per cent to Rs. 1,432.96 crore for the quarter under review as against Rs. 1,296.92 crore in the corresponding period of the previous fiscal.

Shree Cement Ltd: The cement company posted a net profit of Rs. 128.7 crore for the quarter ended September 30, 2015 as compared to Rs. 108.8 crore for the quarter ended September 30, 2014.

Welspun Corp Ltd: Welspun Corp posted a net profit after taxes, minority interest and share of profit of associates of Rs. 101.1 crore for the quarter ended September 30, 2015 as compared to Rs. 5.23 crore for the quarter ended September 30, 2014.

Apollo Hospitals Enterprise Ltd: Apollo Hospitals Ent posted a net profit of Rs. 936.70 mn for the quarter ended September 30, 2015 as compared to Rs.915.00 mn for the quarter ended September 30, 2014.

Pipavav Defence and Offshore Engineering Company Ltd posted a net loss of Rs. 1702.222 mn for the quarter ended September 30, 2015 as compared to net loss of Rs. 1205.181 mn for the quarter ended September 30, 2014.

Jindal Steel & Power Ltd:JSPL posted a net loss of Rs. 6179.40 mn for the quarter ended September 30, 2015 as compared to net profit of Rs. 4418.30 mn for the quarter ended September 30, 2014. 

Maruti Suzuki India Ltd: Maruti Suzuki will on Monday carry out voting by its minority shareholders on the proposed new greenfield plant in Gujarat by its Japanese parent Suzuki Motor Corp.

MMTC: The company reported its net profit at Rs.43.8 crore for the quarter ended September 30, 2015 as compared to Rs. 10.8 crore for the same quarter in the previous year.

Jaiprakash Associates Ltd: Jaiprakash Associates posted a net loss after tax of Rs. 5377.50 mn for the quarter ended September 30, 2015 as compared to net loss of Rs. 1691.80 mn for the quarter ended September 30, 2014.

Bhushan Steel Ltd:The steel company posted a net loss of Rs. 7327.90 mn for the quarter ended September 30, 2015 whereas the same was at net loss of Rs. 2971.90 million for the quarter ended September 30, 2014.

Prestige Estates Projects Ltd:The real estate company posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs. 1006.90 mn for the quarter ended September 30, 2015.

GMR Infrastructure Ltd: GMR Infra posted a net loss after tax, Minority Interest and Share of Loss of Associates of Rs. 3986.70 mn for the quarter ended September 30, 2015 as compared to Net Loss Rs. 6098.60 mn for the quarter ended September 30, 2014.

Jindal Saw Ltd: The net profit stood at Rs. 101.1 crore as against profit of Rs. 74.6 Cr (YoY).

IVRCL Ltd: The net loss stood at Rs. 305.5 Cr as against loss of Rs. 187.6 Cr (YoY).

Dhanlaxmi Bank Ltd: The net profit for the quarter stands at Rs. 0.5 crore as compared to loss Of Rs. 5 Cr (YoY).

McNally Bharat Engineering: The net loss for the quarter stands at Rs. 79.5 crore as compared to loss of Rs. 8.3 Cr (YoY).

Sobha Developers: The real estate company has posted a net profit of Rs. 32.4 crore for the quarter ended September 30, 2015 as compared to Rs. 56 crore reported for the quarter ended September 30, 2014.

IOC: The oil company plans to expand capacity at its naphtha cracker in Panipat to 1.2 million tonnes per year (tpy) by 2019, as per media reports.

Rupee depreciates by 10 paise against US dollar

The currency touched a high and low of 66.58 and 66.15 respectively.

The Indian rupee opened lower by 10 paise  at 66.20/$ in early trade on Monday. Indian rupee can remain under pressure, considering the flow of subdued economic numbers during last week. In this respect, India’s industrial production growth came in below expectations, while consumer inflation rose to a four‐month high. In this respect, Industrial output growth grew 3.6% in September, down sharply from of 6.3% growth during the prior month. The slowdown is attributed to the sluggishness in the mining activity. Meanwhile, Consumer prices during October rose 5% on yoy basis after a 4.41% increase in September. Rising food prices (particularly pulses) and dilution of congenial base effect is leading to a spike in consumer price inflation.

In international markets, Euro remained on the defensive against the greenback, as ECB Chief Mario Draghi commented that further easing could not be ruled out considering deflationary trends. Bond purchases can continue beyond September 2016 if there is no sustained improvement in inflation levels. ECB will do a review of the monetary policy at the December meeting, conveying signals that something more is in the offing, possibly negative interest rates.

The rupee ended at 66.09, higher by 21 paise from its previous close of 66.31 on Tuesday. The currency touched a high and low of 66.58 and 66.15 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.13 and for Euro stood at 71.26 on November 13, 2015. While, the RBI’s reference rate for the Yen stood at 53.90, the reference rate for the Great Britain Pound (GBP) stood at 100.5511.

Tata Steel plans to sell UK plant

Report says that the company expects the sale of its Scunthorpe plant in north Lincolnshire will take place by April next year.

Tata Steel is planning to sell its plant in northern England to give it the "best chance of survival" , according to reports.

Report says that the company expects the sale of its Scunthorpe plant in north Lincolnshire will take place by April next year.

The firm is weighing up the closure of its long-products arm.

Various bidders are in race and there is a possibility of a management buyout as well, says report.

Sensex, Nifty to open on a weak note

WPI numbers will be on investors’ radar. The rupee too could remain under some pressure. OMCs will be in focus after IOC hiked petrol price by 36 paise a litre and diesel by 87 paise a litre.

The Paris attacks have hurt sentiment for the time being but indices usually stage a smart comeback following knee-jerk reactions.  Attacks in France killed 132 people and the threat of terror attacks continues to weigh on sentiment. The Nikkei is down after latest GDP data confirmed Japan’s economy slipped back into recession in the July-September quarter, contracting at a 0.8% annualised rate.

The indices are set to open on a weak note. WPI numbers will be on investors’ radar. The rupee too could remain under some pressure. OMCs will be in focus after IOC hiked petrol price by 36 paise a litre and diesel by 87 paise a litre. Maruti Suzuki will be in action as the company will finally go ahead today with its much-delayed minority shareholders voting to let parent Suzuki invest and own the upcoming plant in Gujarat.

There appears to be no dearth of bad news, IIP slowed in September growing by a mere 3.6%. This is in sharp contrast to the growth of 6.2% recorded in August. Low growth in mining and manufacturing sectors was the culprits for bringing down IIP. CPI-based inflation soared yet again on account of a spike in the price of pulses hitting 5% in October.

Investors will have to deal with high volatility, without any major index returns in the coming months. The impending US Fed rate hike, possible currency devaluation by China, shale oil crisis, Russian aggression and the Middle East conflict are the global factors to contend with. Clearly, given the backdrop of global events, foreign liquidity flows would always be in question in the medium term. Back home, similar to Bihar, Government will have an uphill task in Assam, West Bengal and Tamil Nadu in 2016.

Finance minister Arun Jaitley called for improving credibility and integrity of all market participants, including the regulators and corporates, to channel more household savings into the system, says report.

The Maharashtra government is reportedly seeking legal advice on whether to contest the Bombay High Court’s order allowing Nestle India to restart sales of Maggi instant noodles.

L&T Technology Services Ltd., a unit of Larsen & Toubro Ltd. (L&T), is looking to acquire start-ups valued at US$50 million or less, CEO Keshab Panda has been quoted as saying by a business daily.

Sun Pharmaceutical is in talks to buy a portion of Novartis portfolio of old branded products in Japan, according to reports.

Maruti Suzuki India's new premium hathback Baleno has received more than 21,000 bookings within 15 days of its launch, according to reports.

Punjab National Bank (PNB) has put its loans to Ramsarup Industries’ unit — Ramsarup Nirmaan Wires — up for sale to asset reconstruction companies (ARCs), reports a financial newspaper