Tata Steel Q3 hot metal production at 2.69 mt Vs 2.38 mt (YoY)

The company reported saleable steel production was higher by 13.1% y-o-y (to 2.51 million tonnes), and sales increased by 10.3% yo-y to 2.35 million tonnes in Q3 FY’16.

Tata Steel Limited registered Hot Metal and Crude Steel production of 2.69 million tonnes (up by 13.1% y-o-y) and 2.55 million tonnes (up by 11.3% y-o-y) respectively for Q3 FY’16. Saleable Steel production was higher by 13.1% y-o-y (to 2.51 million tonnes), and Sales increased by 10.3% yo-y to 2.35 million tonnes in Q3 FY’16.


Major Highlights

•  Pellet Plant has achieved best ever Q3 production of 1.43 million tonnes (Previous best 1.03 million tonnes in Q3 FY’15).
•  Sinter Plant has achieved best ever Q3 production of 2.05 million tonnes (Previous best 1.91 million tonnes in Q3 FY’14).
• Blast Furnaces has achieved lowest best ever coke rate of 372 Kg/thm in Q3 (Previous best 435 Kg/thm in Q3 FY’10) and highest best ever coal rate of 172 Kg/thm in Q3 (Previous best 130 Kg/thm in Q3 FY’14).
• Steel Melting Shops has achieved best ever Q3 production of 2.55 million tonnes (Previous best 2.29 million tonnes in Q3 FY’15).
•  Hot Strip Mill achieved its best ever Q3 production of 1.01 million tonnes (Previous best 0.99 million tonnes in Q3 FY’13).
• New Bar Mill achieved its best ever Q3 production of 0.25 million tonnes (Previous best 0.23 million tonnes in Q3 FY’15).
•  Best-ever Q3 Tata Tiscon sales of 0.31 million tonnes (Previous best 0.29 million tonnes in Q3 FY’15).
• Best-ever Q3 Tata Astrum sales of 0.26 million tonnes (Previous best 0.24 million tonnes in Q3 FY’15)

Other Highlights

• Tata Steel has been awarded as the “Largest steel company in Construction Segment” by media publication Construction World in the 13th Construction World Annual Awards 2015 function held in Mumbai on 16th Oct’15.
• Tata Steel received “2nd prize - IIM Sustainability Award 2014-15” from Hon'able Union Minister for steel during NMD - IIM symposium held at Coimbatore on 14th Nov’15 for significant contribution in the field of sustainability.
•  Tata Steel has been declared as the Winner of ‘Golden Peacock Award for Risk Management’ for the year 2015, by the Awards Jury. This award has been instituted by Institute of Directors (IOD), India for the first time for Risk Management.
•  Tata Steel was awarded for “Significant Achievement in Employee Relations” by the Employer’s Federation of India (EFI) for the year 2015 on the 9th Dec’15 in Mumbai.
• Tata Steel dedicated its Kalinganagar Steel plant to the state of Odisha on 18th Nov’15. Hon'ble Chief Minister of Odisha, Mr Naveen Patnaik attended the function as Chief Guest.
•  Tata Steel has won the 'Prime Minister's Trophy for the best Integrated Steel Plant' in the country for the year 2013-1

Sintex Industries plunges 5.3%; Q3 net profit rises 11%

The company said its consolidated net sales rose 12 % YoY to Rs. 2,049.71 crore from Rs. 1,832.86 crore in the year-ago quarter.

Sintex Industries slipped 5.3% to Rs.95.60 on BSE. The company has posted an increase in its net profit at Rs. 1,800.97 mn for the quarter ended December 31, 2015 as compared to Rs. 1,620.38 mn for the quarter ended December 31, 2014.

During the quarter under review,  total income has increased from Rs. 18,447.72 mn for the quarter ended December 31, 2014 to Rs. 20,577.26 mn for the quarter ended December 31, 2015. The company said its consolidated net sales rose 12 % YoY to Rs. 2,049.71 crore from Rs. 1,832.86 crore in the year-ago quarter. 

The scrip opened at Rs. 97 and has touched a high and low of Rs. 97 and Rs. 93.7 respectively. So far 2802731(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4510.16 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 136.4 on 13-Mar-2015 and a 52 week low of Rs. 80.15 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 105 and Rs. 99.3 respectively.

The promoters holding in the company stood at 32.46 % while Institutions and Non-Institutions held 25.26 % and 42.29 % respectively.

The stock is currently trading above its 200 DMA.

NIIT Tech enters into agreement with Ofcom

The company has entered into an agreement with Ofcom the UK communications regulator for provision of ICT services.

Shares of NIIT Technologies Ltd are currently flat at Rs.541 on BSE. The company has entered into an agreement with Ofcom the UK communications regulator for provision of ICT services.

The scrip opened at Rs. 537 and has touched a high and low of Rs. 543.8 and Rs. 530.95 respectively. So far 26114(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3281.3 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 632 on 18-Nov-2015 and a 52 week low of Rs. 335 on 26-Mar-2015. Last one week high and low of the scrip stood at Rs. 589 and Rs. 524 respectively.

The promoters holding in the company stood at 30.84 % while Institutions and Non-Institutions held 53.18 % and 15.98 % respectively.

The stock is currently trading above its 50 DMA.

Amazon takes over 30,000 sqft on lease at OneBKC and other top real estate news of the day

Round up of the major headlines that dominated the real estate sector, nationally and internationally

The district consumer disputes redressal forum, Chandigarh, has directed a city-based real estate company to refund an amount Rs 6.81 lakh to a Rajasthan resident, who had paid the money to the company for a showroom space in a proposed project of the company.

Prices for construction material shave declined notably during the past few years. Despite this drop, the price of real estate properties shows no sign of slowing its ascent.

The real estate market in Vadodara seems to be set for an upswing this year. The CREDAI Vadodara Property Carnival 2016 organized at Navlakhi Grounds saw a record number of bookings for apartments and duplexes over last three days.

China will push for a unified real estate registration system in all cities and counties by the end of the year, state media said, seen as a major step in the fight against corruption.

ArthVeda Fund Management, a DHFL group company, plans to raise up to Rs 3,000 crore under its affordable housing fund focused at low-income group projects, over the next three years. 

In one of the most high-profile deals in the Mumbai office market, Amazon has taken 30,000 square feet of office space for its corporate headquarters at OneBKC building in Bandra Kurla Complex area of Mumbai on lease.

Chinese woes! MSCI Asia Pacific index tumbles to 4 year low

Market experts are of the view that a weaker yuan since last 8 days might escalate fears of a global currency war.

Mounting concern over the financial stability in China has dragged the Asian stock markets once again. The MSCI Asia Pacific excluding Japan Index nosedived over 2% to 374 points today in Hong Kong, going southward to its lowest level since October 2011.

Most of the leading Asian stock markets, began the second week of 2016 on a negative note as selling pressure prevailed Monday after signs of recovery in Chinese economy blurred with yuan devaluation.

Market experts are of the view that a weaker yuan since last 8 days might escalate fears of a global currency war.

Succumbing to heavy sell-off across sectors Asian stocks markets remained subdued on Monday as China’s Shanghai Composite Index opened lower. The Index currently is trading 2.40% lower at 3,109.95 points. Meanwhile, the CSI 300 Index is trading 2.16% lower at 3,288.80 points.

Among other notable losers, Singapore’s Straits Times is currently trading at 2,694.17 points (-2.12%), Taiwan’s Taiex at 7,804.08 points (-1.15%), South Korea’s Kospi index at 1,905.12 points (-0.66%), Thailand’s SET Composite at 1,228.28 points (-1.29%) and Singapore Nifty (SGX Nifty) at 7,520 (-1.12%). The Tokyo Stock Exchange is closed due to a holiday.

Sensex falls over 250 points; Nifty breaches 7500

The BSE Mid-cap Index is trading down 1.24% at 10,856, whereas BSE Small-cap Index is trading down 1.18% at 11,514. A total of 25 stocks registered a fresh 52-week high in trades today, while 30 stocks touched a new 52-week low on the NSE.

At 9:26 AM, the S&P BSE Sensex is trading at 24,644 down 290 points, while NSE Nifty is trading at 7,509 down 92 points.

The BSE Mid-cap Index is trading down 1.24% at 10,856, whereas BSE Small-cap Index is trading down 1.18% at 11,514.

All sector are showing weakness on BSE.

Vakrangee, Pipavav Defence, Sobha, Bayer Cropscience and Mphasis are among the gainers, whereas Tata Steel, BHEL, SBI, Adani Ports, Coal India, ICICI Bank and L&T are losing sheen on BSE.

The India VIX (Volatility) index rose nearly 4% to 18.6175.

Out of 1,740 stocks traded on the NSE, 1,081 declined and 283 advanced today. A total of 25 stocks registered a fresh 52-week high in trades today, while 30 stocks touched a new 52-week low on the NSE.

Indian Rupee opened lower at 66.90/$ higher by 27 paise in early trade on Monday as against the previous close of 66.63/$. At the current juncture, US dollar is witnessing moderate retracement against the basket of currencies as well. On global macroeconomic front, US economy added 292,000 jobs during December, well ahead of estimates, while unemployment remained at 5%. October and November payroll numbers were also revised higher by a total of 50,000 jobs. In China, inflation numbers came in line with estimates. Market focus will be now accentuated on slew of Chinese macro numbers releasing on 18th and 19th of January.

Chinese CPI  has risen to 1.6%  in December from 1.5% in the previous month. Shanghai Composite is down over a percent. On Friday, US indices ended weaker. Most other Asian indices are in the red with Hong Kong's Hang Seng down 2.5%, South Korea's Kospi lower by over half a percent and Taiwan's TWSE down 1.3%.

The slow economic recovery and poor show reported by Corporate India, quarter-after-quarter, will continue to be a concern. The coming week has a number of larger companies announcing their results. These include Infy, TCS, Indusind Bank and HUL. While it may be difficult to predict the timing of broad earnings pick up, but a recovery has started in many companies outside the Nifty. It would be prudent for investors to identify these stocks and sectors rather than wait for a full-fledged recovery.
Auto stocks will be in focus as December sales numbers will be announced by Society of Indian Automobile Manufacturers.

Archit Organosys will consider issue of shares on pref basis, warrants convertible in to equity shares.

Enkei Wheels (India) will consider allotment of equity shares.

Mercury Metals and PVV infra board will meet to issue equity shares.

Vivimed Labs could see action as the board will today consider sub division of equity shares.

Shekhawati Poly Yarn will consider share allotment on conversion of warrants.

The paper division of ITC Ltd. is evaluating buyout of the Sirpur Paper Mills Ltd. in Telangana, according to reports.

India has taken up a massive energy efficiency mission under which it will switch over to LED bulbs by the end of 2018, which would result in a saving $ 6 billion per annum, says Union Minister for Power, Coal, New & Renewable Energy, Piyush Goyal.

The country’s forex reserves were lower by $1.68 bn in the week ended 01 January 2015 to US$ 350.3692 billion.

Passengers may have to pay higher fares following the finance ministry’s recent decision to cut gross budgetary support to railways ministry by Rs.12,000 crore, according to reports.

The Government of India re-appointed Dr. Urjit R. Patel as the Deputy Governor of the Reserve Bank of India, for a further period of three years with effect from taking charge of the post on or after January 11, 2016, or, until further orders, whichever is earlier.

The non-passage of GST bill will be a blow to the Indian democracy, economy and the overall development process, Union Minister of State for Finance Jayant Sinha has said.
Finance Minister Arun Jaitley is expected to hold pre-Budget consultations with finance sector representatives later in the day.

Oil price crash to hit NRIs

Besides, fresh investment in the energy sector has come to a halt leaving a negative spin off impact on a host of sectors like construction, tourism, real estate, banking and finance,” the paper pointed out.

The crash in crude oil prices with a crippling impact on the economies of the Gulf nations would deal a severe blow to remittances to India, Pakistan and other Asian nations with a maximum possible impact on states like Kerala and Punjab, according to an analysis done by ASSOCHAM.

“As meltdown in crude is leading to a price war among the major oil producers and prices breaching 11 year low, major economies in the Gulf region have been caught off guard and their finances are going to come under a severe pressure.

Besides, fresh investment in the energy sector has come to a halt leaving a negative spin off impact on a host of sectors like construction, tourism, real estate, banking and finance,” the paper pointed out.

It said while the RBI data for April – September, 2015-16 shows an uptick in the NRI deposits of USD 10.1 billion from USD 6.4 billion in the same period last year,, the trend is bound to get adversely affected in a multi-pronged fashion, going forward.  For one, the number of workers, both the blue an d white collar going to the Middle East on fresh recruitment is going to drop drastically while those already working in the region would find the going rather tough.

“Bulk of the Indians in the Middle East are spread in Saudi Arabia, UAE, Bahrain, Qatar while those close to the conflict region have returned to relatively peaceful places. With a severe economic pressure in all these oil producing nations, the expatriates mostly in the low income and labour oriented sectors like construction, hotels, restaurants, etc would feel the heat in terms of wage cut, lay offs and the terms of employment  deteriorating,” the paper said.

According to a recent report, remittances from the Gulf nations for expatriates from all the sourcing countries aggregate to about USD 100 billion. From the UAE, one of the major sources of remittances, India alone accounted for USD 12 billion.

Of about 20 million NRIs spread in 110 countries, around six-seven million are in the Gulf states of whom two million are estimated to be from Kerala. 

ASSOCHAM Secretary General Mr D S Rawat said, “while we have benefited from the oil prices crash, the collateral damage would be felt across different sectors. It is a matter of concern and the Centre and the state governments should keep a contingency plan ready should a situation of workers’ displacement arise. Moreover, the Indian embassies across the Gulf nations should start assessing the situation and suggest remedial measures,”.

The chamber said, the maximum impact could be felt in Kerala where almost every other family is dependent on remittances, mostly coming from the Gulf nations. States like Punjab, Uttar Pradesh which also send a sizeable number of workforce there would also be affected.

A lion’s share of remittances to India comes from  Gulf countries -Qatar, Bahrain, Oman, Saudi Arabia, and Kuwait which sent about USD 33 -35 billion 

Reliance to set up Rs. 5,000-crore naval shipbuilding unit

Report says that Reliance has signed a memorandum of understanding with Andhra Pradesh that will give its 1,500 acres of land co-located with strategic facilities of the Indian Navy and Department of Atomic Energy,

Reliance Group is planning to set up a naval ship-building facility near Visakhapatnam at a cost of Rs. 5,000 crore, according to reports.

Report says that Reliance has signed a memorandum of understanding with Andhra Pradesh that will give its 1,500 acres of land co-located with strategic facilities of the Indian Navy and Department of Atomic Energy, 

A memorandum of understanding was signed between Reliance ADA Group Chairman, Anil Ambani and AP Chief Minister, N. Chandrababu Naidu, at the CII Partnership Summit and Sunrise AP Investment Meet on Sunday, says report.

Reliance will establish the facility at Rambilli, about 70 km from here, Anil Ambani was quoted as saying.

The proposed facility would generate thousands of skilled jobs.

Sobha achieves new sales of 8.06 lakh sft in Q3FY16

In its operational update for Q3FY16, the Bangalore-based realty major said that the new sales volume and value are higher by 22 per cent and 12 per cent compared to Q3FY15.

Sobha Ltd. said on Sunday that it has achieved new sales of 8.06 lakh square feet (sft) in third quarter of FY16 valued at Rs. 478.30 crore with an average realisation of INR 593.20 per sft.

In its operational update for Q3FY16, the Bangalore-based realty major said that the new sales volume and value are higher by 22 per cent and 12 per cent compared to Q3FY15.

Sobha has set a guidance of the new sales area of 4 million sft valued at INR 2,600 crore for the current fiscal year. At the close of Q3FY16, the company has registered new sales of 2.50 million sft valued at Rs. 1477 crore.

“In the context of the current operating scenario, we expect a consequential impact on the company’s performance vis-à-vis the guidance set for the fiscal year 2015-16,” Sobha said in its statement.

On the industry scenario, Sobha said that the demand in the first 9 months of FY16 has been more subdued compared to FY15, with even the festival season not providing anticipated impetus for sales.

The company's performance in the Chennai market was marginally affected by recent floods, while the Bengaluru market continues to perform strongly, Sobha said.

8K Miles, Bharat Forge, Sobha among 18 Stocks in focus today

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

8K Miles Software Services: The company registered a revenue growth of 21% in the quarter ending December. The Net Profit of the company stood at Rs. 11.3 crore in FY16 Q3 as compared to Rs. 8.7 crore in Q2 and Total Income at Rs. 74 crore FY16 Q3 Vs Rs. 61.1 crore in Q2.

Bharat Forge: Bharat Forge announced plans to set up an integrated auto component hub in Nellore, Andhra Pradesh at an investment of INR 1,200 crore. The project is likely to create 3,000 jobs.

Reliance Industries Ltd, ONGC: RIL has challenged the jurisdiction of the Justice A.P. Shah Committee and has decided not to cooperate in the resolution of the natural gas dispute with ONGC, reports a business daily.

Sobha Ltd: The real estate company has achieved new sales of 8.06 lakh square feet (sft) in third quarter of FY16 valued at INR 478.30 crore with an average realisation of INR 593.20 per sft.

Reliance Infrastructure: Birla Corp has emerged as the frontrunner to acquire Reliance Infrastructure's cement business, reports a business daily. Birla Corp is currently the only potential buyer engaged in advanced commercial negotiations with Anil Ambani-promoted Reliance Group, adds the financial newspaper.

Sintex Industries: The company has posted Q3 net profit at Rs. 1,800.97 mn for the quarter ended December 31, 2015 as compared to Rs. 1,620.38 mn for the quarter ended December 31, 2014.

Lanco Infratech: Lanco Infratech Ltd has that a Subsidiary of the Company, Lanco Kondapalli Power Limited has successfully declared Commercial Operations Date (COD) for its expansion capacity of 371 MW (Phase III B Project) with effect from January 09, 2016.

Hindustan Zinc Ltd: The company is planning to invest Rs. 8,000 crore in the next 3-5 years, according to reports.

Ashok Leyland Ltd: The company has received an order for 680 Vehicles and Spare Parts, worth US$ 50 mn. from the Ministry of Local Government, Public Works and National Housing, Government of Republic of Zimbabwe.


Ricoh India: The company has partnered with Siemens to offer digital lifecycle management software. 


Sterlite Tech: Sterlite Grid, India’s largest private developer of independent power transmission systems has received the Letter of Intent (LoI) to commission power evacuation infrastructure in Odisha for local power projects. 


IFCI: IFCI Ltd has reduced its benchmark rate, IFCI Benchmark Rate (IBR)" from 12% p.a. to 11.70% p.a. with monthly rests. 

Spice Mobility Ltd: Spice Mobility Ltd has announced that Spice Digital Limited (SDL) has acquired 22.54% equity stake in Sunstone Eduversity Private Limited, a Company incorporated for the purpose of engaging in the line of education business.

Glenmark Pharmaceuticals: Glenmark Pharmaceuticals S.A. (GPSA), a wholly owned subsidiary of Glenmark Pharmaceuticals Ltd India, has announced the discovery and initiation of IND-enabling studies for a novel clinical development candidate, GBR 1342. 

Sun Pharmaceuticals: Sun Pharmaceuticals arm gets USFDA approval for generic of Naftin, as per media reports.

Ashoka Buildcon: The company has announced regarding the acquisition of stake in Jaora-Nayagaon Toll Road Company Private Limited. Ashoka Concessions Limited (ACL) has received transfer of 4,23,03,800 (which is 14.74% of share capital of JTCL) equity shares of Rs. 10 each fully paid up from SREI.

Inox Wind Ltd: Gujarat Industries Power Company Ltd has informed BSE that the company has issued Letter of intent (Lol) dtd. December 31, 2015 to Inox Wind Ltd., Noida, U.P. State, for installation of 26 MW Wind Energy Farm Project at Rojmal Site, Dist: Amreli, Gujarat, on EPC basis, with Operation & Maintenance Contract for twenty years. The said Wind Energy Farm Project is scheduled to be completed by December, 2016.

Virinchi Technologies Ltd: The Board of the company has approved the proposal to Lease the Building owned by M/s Virinchi Technologies Limited, situated at pothaipally, Hakimpet to M/s. Vivo Bio Tech Ltd on such terms and conditions as may be agreed, subject to approval of shareholders by postal ballot.