Wednesday, 3 February 2016

Tata Power honored with Best Corporate Film award and other top Power news of the day

A round up of the major headlines that dominated the Power sector, nationally and internationally


Torrent Power surged on BSE. The company posted a net profit of Rs. 372 crore for the quarter ended December 31, 2015 where as the same was at Rs. 68.8 crore for the quarter ended December 31, 2014.

ReNew Power Ventures, a Gurgaon-headquartered renewable energy company, raised the largest amount of venture capital funding in the wind power sector last year, according to a global report on wind energy funding and M&A activity for 2015.

Crompton Greaves , Avantha Group company, reported consolidated net loss of Rs.107.03 crore for the quarter ended December 31, 2015. However, it had reported net profit of Rs.274.29 crore in the corresponding quarter of the previous year and Rs. 52.14 crore in the preceding quarter. The company’s consolidated revenue stood at Rs. 2,067.80 crore, down 14.18% yoy and 8.86% qoq.

Tata Power, India’s largest integrated power company, has always given priority to the safety and well-being of all is stakeholders including the customers, employees, visitors etc. In recognition of this commitment, Tata Power’s Visitor Induction Module was honored with the ‘Best Corporate Film in the area of Health, Safety and Environment’ at the Mega Corporate Film Awards 2016.

Coal India has announced the provisional production and offtake performance for the month of January 2016.The company and its subsidiaries have achieved 94% of the targeted coal production at 52.86 million tonnes in January 2016.The company and its subsidiaries have achieved 95% of the targeted offtake at 48.32 million tonnes in January 2016.


Anchor by Panasonic, a vital member of Panasonic Corporation Eco Solutions company was declared winner in the category of Rooftop Solar Module Company in recognition of its continuing efforts and outstanding contribution towards the development of rooftop solar industry.

TD Power Systems, a heavy electrical equipment manufacturer, will announce its financial results on February 3 for the third quarter ended December 31, 2015.

United Breweries down 3%; Q3 net profit at Rs. 72.1 crore

The Company posted a net profit of Rs. 721.20 mn for the quarter ended December 31, 2015 as compared to Rs. 399.40 mn for the quarter ended December 31, 2014.


United Breweries
United Breweries Ltd stock was down by 3% at Rs. 784.The Company posted a net profit of Rs. 721.20 mn for the quarter ended December 31, 2015 as compared to Rs. 399.40 mn for the quarter ended December 31, 2014. 

Total Income has increased from Rs. 10123.70 mn for the quarter ended December 31, 2014 to Rs. 11696.90 mn for the quarter ended December 31, 2015.

The scrip opened at Rs. 811.7 and has touched a high and low of Rs. 815 and Rs. 784.9 respectively. So far 322517(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21366.16 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1225 on 17-Apr-2015 and a 52 week low of Rs. 760 on 29-Jan-2016. Last one week high and low of the scrip stood at Rs. 814.25 and Rs. 760 respectively.

The promoters holding in the company stood at 74.68 % while Institutions and Non-Institutions held 20.04 % and 5.29 % respectively.

The stock is currently trading above its 200 DMA.

Tata Communications falls 6.3%; registers loss of Rs. 69.64 crore in Q3

Net profit of the telecom company firm dropped 80% registering a loss of Rs. 69.64 crore in Q3. Net revenue stood at Rs. 1,208.27 crore in the quarter ended December 31, 2015 as compared to Rs. 1,204.11 crore in Q2 FY16.


Tata-Communication1
Tata Communications plunged 6.3% to Rs. 379.00 after the company posted disappointing numbers in Q3 FY16.

Net profit of the telecom company firm dropped 80% registering a loss of Rs. 69.64 crore in Q3.

Net revenue stood at Rs. 1,208.27 crore in the quarter ended December 31, 2015 as compared to Rs. 1,204.11 crore in Q2 FY16.

The scrip opened at Rs. 400 and has touched a high and low of Rs. 400 and Rs. 363.3 respectively. So far 431949(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11529.68 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 504.9 on 15-Apr-2015 and a 52 week low of Rs. 336.3 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 415.35 and Rs. 384.3 respectively.

The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 18.09 % and 6.91 % respectively.

The stock is currently trading above its 200 DMA.

Escorts plunges 3% on Q3 numbers

Total Income has decreased from Rs. 10612.396 mn for the quarter ended December 31, 2014 to Rs. 9011.575 mn for the quarter ended December 31, 2015.


Escorts Ltd stock was down by 3% at Rs.127. The Company hposted a net profit of Rs. 204.990 million for the quarter ended December 31, 2015 as compared to Rs. 356.860 mn for the quarter ended December 31, 2014. 

Total Income has decreased from Rs. 10612.396 mn for the quarter ended December 31, 2014 to Rs. 9011.575 mn for the quarter ended December 31, 2015.

The scrip opened at Rs. 130 and has touched a high and low of Rs. 130 and Rs. 127.25 respectively. So far 90623(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1618.06 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 189 on 23-Oct-2015 and a 52 week low of Rs. 101.6 on 16-Jun-2015. Last one week high and low of the scrip stood at Rs. 138.15 and Rs. 128.35 respectively.

The promoters holding in the company stood at 43.01 % while Institutions and Non-Institutions held 12.22 % and 44.77 % respectively.

The stock is currently trading above its 100 DMA.

YES Bank launches YES InControl; partners with MasterCard

Using YES InControl customers can now customize usage parameters and limits for their YES BANK Debit Cards for better safety and efficiency.


YES Bank, India’s fifth largest private sector bank, is launching YES InControl in association with MasterCard. YES InControl will allow YES BANK customers to fully control their YES BANK Debit card usage in a manner that has not been experienced before in India. Using YES InControl customers can now customize usage parameters and limits for their YES BANK Debit Cards for better safety and efficiency.

YES InControl enables this by allowing the customers to suitably configure the parameters such as daily/ weekly budgeting, merchant category, location and time of the day. These parameters can be easily and conveniently set by the customer themselves through YES BANK NetBanking on a real-time basis, thereby having an enhanced security, better control and accurate management of finances.  By imposing a limit on the credit card, customers will be able to ensure an additional layer of security on their card supplementing the existing state-of-the-art security offered by the YES BANK platform.

YES InControl also allows the customers to manage and modify limits on add-on cards linked to the YES BANK debit card thereby helping them be in-charge of the family’s budget and finances. The facility will also empower customers to build a spending and savings discipline, gradually over a period of time.

Speaking about the launch Pralay Mondal, Senior Group President, Retail and Business Banking, YES BANK, said, “YES BANK is delighted to be the first bank in India to launch YES InControl, in partnership with MasterCard. The customers today want to customise and manage all parameters on their card spends themselves, based on their requirements. We truly believe this will be yet another innovative first for our customers.”

Porush Singh, Country Corporate Officer, India and Division President, South Asia, MasterCard said, “India is rapidly moving towards digitisation and hence there is a need for innovative solutions & products that build consumer confidence and drive greater electronic payments. At MasterCard, our endeavour is to work with our issuing banks to introduce global best practices that will help cardholders transact more safely and securely in a digital environment. We are delighted to partner with YES BANK to introduce YES InControl, that is a best in class fraud & safety product that enables cardholders to manage and control their finances and secure their transactions.”

With this launch, YES BANK reinforces its leadership position in using Innovation and Technology to provide enhanced and superior Banking experience to its customers. In future, YES InControl will also be made available through Mobile Banking to make it more consumer friendly and accessible.

Crompton Greaves crashes 21% on Q3 net loss

The company posted a net loss of Rs. (1070.30) mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 2742.90 mn for the quarter ended December 31, 2014.


Crompton Greaves - BSE
Crompton Greaves Ltd stock crashed by 21% at Rs. 138.The company posted a net loss of Rs. (1070.30) mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 2742.90 mn for the quarter ended December 31, 2014. 

Total Income has decreased from Rs. 24364.20 mn for the quarter ended December 31, 2014 to Rs. 20875.20 mn for the quarter ended December 31, 2015.

The scrip opened at Rs. 150.4 and has touched a high and low of Rs. 152.8 and Rs. 136.2 respectively. So far 842722(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10472.93 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 203.5 on 05-Jan-2016 and a 52 week low of Rs. 152.85 on 08-Sep-2015. Last one week high and low of the scrip stood at Rs. 175.7 and Rs. 166.15 respectively.

The promoters holding in the company stood at 34.38 % while Institutions and Non-Institutions held 49.1 % and 16.38 % respectively.

The stock is currently trading above its 50 DMA.

Hindustan Zinc plans to invest Rs. 8000 Crore

Hindustan Zinc is looking to expand its all operations in a time-frame of 3-5 years, taking current ore production levels of 9.36 MTPA to 14.00 MTPA and finished metal production levels from 0.85 MTPA to 1.10 MTPA.


Hindustan Zinc is looking to expand its all operations in a time-frame of 3-5 years, taking current ore production levels of 9.36 MTPA to 14.00 MTPA and finished metal production levels from 0.85 MTPA to 1.10 MTPA.

As Hindustan Zinc, a Vedanta Group company in Zinc-Lead-Silver business celebrates its Golden Jubilee, completing 50 years of its existence; the company is all set for its next phase of expansion of its mining and smelting operations with an investment of Rs.8000 crore.
Hindustan Zinc is looking to expand its all operations in a time-frame of 3-5 years, taking current ore production levels of 9.36 MTPA to 14.00 MTPA and finished metal production levels from 0.85 MTPA to 1.10 MTPA.

The Company has its mines located in Agucha, Sindesar Khurd, Zawar, Rajpura Dariba, and Kayad, all in Rajasthan.  The smelters are located in Dariba, Chanderiya and Debari, also in Rajasthan.

Hindustan Zinc which was formed under an Act of Parliament on 10th January 1966 is India's only and the world's leading integrated zinc-lead-silver producing company.

Anil Agarwal, the Chairman of Vedanta Group, has expressed his happiness towards providing zinc sufficiency to India. "When we acquired Hindustan Zinc as part of Government disinvestment program in 2002, our focus was to make India self-sufficient in zinc. We are very proud that by adopting latest environment friendly technology, large investment in capacity expansions and continuous exploration, Hindustan Zinc is able to increase the production five-fold and yet have reserves for another 30 years", he said.

The turning point came when in the year 2002, under the disinvestment program by the government, Hindustan Zinc was acquired by Sterlite. Since then, the company has grown multi-fold. The metal production capacity is 1 million tonne in the year today from about 200,000 tonne in 2002. The mine production capacity has also increased to 10.25 million tonne today from 3.45 million tonne in 2002.

The reserves and resources, which were 143.7 million tonnes in the year 2002 today stand at 375.1 million tonne after consuming reserves for about 14 years. The philosophy of the company on exploration has been to add equal reserve for every tonne of ore mined.

The investment of Rs. 12,000 crore in the past years have brought many changes in not just asset optimization but also building new facilities into the business to give value to the shareholders.  At the time of disinvestment, Hindustan Zinc did not have captive power generation or wind energy farms. Today the company produces 474 MW of captive thermal power and 274 MW of wind energy.

The turnover of the company has also seen a turn-around, from mere Rs. 1,200 crore in the year 2002 to more than Rs. 14,500 crore in the year 2014-15. The profit too has jumped from just Rs. 68 crore in the year 2002 to Rs. 8,178 crore in the year 2014-15.

The contribution to the exchequer has also seen significant change, which increased from Rs. 364 crore in the year 2002 to more than Rs. 5,000 crore in 2014-15.

"Though the zinc mining in India dates back to over 2500 years old, and the retorts of ancient mining can still be seen at Zawar, about 45 km from Udaipur; the zinc as a metal has been not much known or utilized in India. We are still exploring the new areas where zinc could add value to consumers and also add in the GDP of the country. We are exploring the possibilities of galvanizing of car bodies and structures to increase their life-span accordingly", said Sunil Duggal, the Chief Executive Officer of Hindustan Zinc.

Hindustan Zinc is also looking to set-up a new Fertilizer Plant with a capacity to manufacture 0.5 MTPA of Di-Ammonium Phosphate in Debari in district Udaipur with an estimated investment of Rs. 1350 crores.

As the company celebrates its Golden Jubilee year, it is all set to invest another Rs. 8000 crore in the coming 3-5 years on expansions of its mines and smelting operations.

RBI announces Regulatory relaxations for Startups

The following regulatory changes for easing the cross-border transactions, particularly relating to the operations of the start-up enterprises are proposed to be made, in consultation with the Government of India.


In paragraph 14 of the Sixth Bi-monthly Monetary Policy Statement for 2015-16 released today, RBI Governor Raghuram Rajan highlighted the steps being taken in keeping with the Government’s initiatives to promote the ease of doing business and contribute to an eco-system conducive for growth of entrepreneurship, particularly in respect of the start-up enterprises. 
The details are:
The following regulatory changes for easing the cross-border transactions, particularly relating to the operations of the start-up enterprises are proposed to be made, in consultation with the Government of India.

Enabling start-up enterprises, irrespective of the sector in which they are engaged, to receive foreign venture capital investment and also explicitly enabling transfer of shares from Foreign Venture Capital Investors to other residents or non-residents;
Permitting, in case of transfer of ownership of a start-up enterprises, receipt of the consideration amount on a deferred basis as also enabling escrow arrangement or indemnity arrangement up to a period of 18 months;
Enabling online submission of A2 forms for outward remittances on the basis of the form alone or with document(s) upload/submission, depending on the nature of remittance; and
Simplifying the process for dealing with delayed reporting of Foreign Direct Investment (FDI) related transaction by building a penalty structure into the regulations itself.

The notifications/circulars under Foreign Exchange Management Act (FEMA), wherever necessary, will be issued shortly.

In addition, the following proposals are under consideration, in consultation with the Government of India

Permitting start-up enterprises to access rupee loans under External Commercial Borrowing (ECB) framework with relaxations in respect of eligible lenders, etc.;
Issuance of innovative FDI instruments like convertible notes by start-up enterprises; and
Streamlining of overseas investment operations for the start-up enterprises.

Certain other issues that are permissible under the existing regime shall be clarified
Issue of shares without cash payment through sweat equity or against any legitimate payment owed by the company remittance of which does not require any permission under FEMA; and

Collection of payments by start-up enterprises on behalf of their subsidiaries abroad
The Reserve Bank has already created a dedicated mailbox to provide assistance and guidance to the start-up sector. Further, electronic reporting of investment and subsequent transactions will be made on e-Biz platform only. Submission of physical forms will be discontinued with effect from February 8, 2016.

Tata Communication, Lupin, Crompton Greaves among 20 Stocks in focus today

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


Stock Market
DLF: The Group has posted a net profit of Rs. 1639.50 million for the quarter ended December 31, 2015 as compared to Rs. 1317.90 million for the quarter ended December 31, 2014.

Maruti Suzuki: Maruti Suzuki will launched Compact SUV Vitara Brezza at Delhi Auto Expo.

Lupin: Pharma Major Lupin announced that its US subsidiary, Lupin Pharmaceuticals Inc. has launched its Metformin HCl ER Tablets, 500 mg and 1000 mg to market a generic equivalent of Santarus Inc.’s Glumetza HCl ER Tablets, 500 mg and 1000 mg.

Tata Communication: The company posted a decline in consolidated net profit by 79.8 per cent at Rs 21.89 crore in the quarter ended December 31, 2015.

Adani Ent: Billionaire Gautam Adani’s mega project worth US$ 16.5 billion in Queensland, Australia, has received environmental approval from the state’s Department of Environment and Heritage Protection (EHP).

Hindustan Zinc: The company is looking to expand its all operations in a time-frame of 3-5 years, taking current ore production levels of 9.36 MTPA to 14.00 MTPA and finished metal production levels from 0.85 MTPA to 1.10 MTPA.

Birla Corporation: The proposed Rs. 5,000-crore deal by Birla Corporation Ltd. to acquire two cement manufacturing units of Lafarge India Pvt. Ltd., along with two cement brands has been called off.

Vedanta: Vedanta Resources will repurchase bonds worth up to $250 million of its outstanding $1.25 billion convertible bonds due this year.

Cipla: Yusuf Khwaja Hamied, currently the Non-executive Chairman of drug major Cipla Ltd, has increased his stake in the company to over 20% by acquiring additional 5% stake of his wife Farida Hamied.

RPG Life Sciences Ltd: The pharma company reported an increase of 84.58% in its standalone net profit at Rs. 4.67 crore for the third quarter ended December 31, 2015.

DCM Shriram Ltd: The company reported more than two-fold jump in its consolidated net profit at Rs. 60.48 crore for the quarter ended December on higher sales and fall in interest outgo.

Minda Industries:  Minda Industries reported a 121.5% increase in standalone net profit at Rs. 28.8 crore for the third quarter that ended on December 31, 2015.

Crompton Greaves: The company reported consolidated net loss of Rs.107.03 crore for the quarter ended December 31, 2015.

Tata Motors: Tata Motors has decided to rename its soon-to-be-launched hatchback Zica as concern grows globally over the outbreak of the identical sounding name Zika virus.

Grindwell Norton: The company’s consolidated revenue stood at Rs. 280.79 crore, up 0.36% yoy but down 1.06% qoq.

Majesco: Majesco reported consolidated net profit of Rs. 7.9 crore vs loss of Rs. 0.6 crore qoq.
Hero MotoCorp: Hero MotoCorp reported a marginal growth in Jan '16 sales with 5,63,348 units as against 5,58,982 units sold in Jan '15.

Jindal Stainless: Jindal Stainless Ltd's standalone net loss narrowed to Rs.191.25 crore for the quarter ended December 31, 2015 compared to Rs. 341.98 crore in the corresponding quarter of the previous year, but widened from Rs. 188.05 crore in preceding quarter.

Tube Investments: Tube Investments of India Ltd posted a net profit of Rs. 1115.00 mn for the quarter ended December 31, 2015 compared with Rs. 871.40 mn for the quarter ended December 31, 2014.

Escorts: Escorts, leading engineering conglomerate, reported standalone net profit of Rs.20.49 crore for the quarter ended December 31, 2015, registering decline of 42.58% yoy, but growth of 26.62% qoq.

Maharashtra Scooters: The company recorded a decline of 30.7% in its net profit  Rs.1.8 crore for the quarter ended December 31, 2015 compared with Rs.2.6 crore for the quarter ended December 31, 2014.

Amara Raja Batteries: Amara Raja Batteries reported standalone net profit of Rs. 136.18 crore for the quarter ended December 31, 2015, registering growth of 33.07% yoy and 11.1% qoq.

Bayer Crop: The consolidated net profit for the quarter was at Rs. 2.7 crore as against Rs. 5.5 crore. The company’s standalone revenue stood at Rs. 642.40 crore, down 9.78% yoy and 45.31% qoq.

AstraZeneca: AstraZeneca announced that it has completed the transaction to acquire a majority equity stake in Acerta Pharma, a privately-owned biopharmaceutical company based in the Netherlands and US.

HSIL: The company recorded increase 22.4% in its net profit at Rs.37 crore for the quarter ended December 31, 2015 compared with Rs.30.3 crore for the quarter ended December 31, 2014.

United Breweries: The company has posted a net profit of Rs. 721.20 mn for the quarter ended December 31, 2015 compared with Rs. 399.40 mn for the quarter ended December 31, 2014.

OCL India: OCL India, flagship company of 'Dalmia Group, reported standalone net profit of Rs. 37.07 crore for the quarter ended December 31, 2015, registering growth of 28.85% yoy and 119.74% qoq.

Godrej Properties: The company reported a consolidated net profit of Rs. 51.99 crore for the quarter ended  December 31, 2015, registering growth of 10.06% yoy, but declining 51.03% qoq.

Uflex: Uflex, flexible packaging solutions company, reported consolidated net profit of Rs. 78.68 crore for the quarter ended December 31, 2015, registering growth of 37.87% yoy.

Torrent Power: Torrent Power Ltd posted a net profit of Rs. 3720.10 mn for the quarter ended December 31, 2015 where as the same was at Rs. 687.70 million for the quarter ended December 31, 2014.