Crompton Greaves surges 6%

The scrip opened at Rs. 130.5 and has touched a high and low of Rs. 138.2 and Rs. 130 respectively.

Crompton Greaves stock was higher by 6% at Rs. 136.Report says that around 500 Crompton Greaves workers were in for a shock as a leopard strayed into a godown of the company at the Ambad MIDC.

The scrip opened at Rs. 130.5 and has touched a high and low of Rs. 138.2 and Rs. 130 respectively. So far 12565145(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8106.96 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. 113.65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 133.9 and Rs. 117.25 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 200 DMA.

Rajesh Exports down 0.17%; bags export order worth Rs.840 crore

The company bagged an order worth Rs.840 crore in UAE.

Rajesh Exports is trading slightly down at Rs.726 on BSE. The company bagged an order worth Rs.840 crore in the UAE. 

The scrip opened at Rs. 726.9 and has touched a high and low of Rs. 727 and Rs. 718.5 respectively. So far 50382(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 21449.12 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 745.5 on 18-Feb-2016 and a 52 week low of Rs. 161.7 on 05-Mar-2015. Last one week high and low of the scrip stood at Rs. 745.5 and Rs. 714.6 respectively.

The promoters holding in the company stood at 53.9 % while Institutions and Non-Institutions held 20.51 % and 25.59 % respectively.

The stock is currently trading below its 50 DMA.

RCF surges 5.5%; likely to get clearance for new urea plant

The company is likely to secure a clearance from the Public Investment Board for establishing a new urea plant at its current manufacturing facility at Thal in Maharashtra at an estimated investment of Rs. 55 bn.

RCF stock was higher by 5.5%. Report says that the company is likely to secure a clearance from the Public Investment Board for establishing a new urea plant at its current manufacturing facility at Thal in Maharashtra at an estimated investment of Rs55bn.

The scrip opened at Rs. 41.55 and has touched a high and low of Rs. 43.25 and Rs. 41.35 respectively. So far 1466851(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2220.55 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 74.75 on 19-Feb-2015 and a 52 week low of Rs. 35.25 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 40.6 and Rs. 36.3 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 10.04 % and 9.96 % respectively.

The stock is currently trading above its 200 DMA.

ITC cracks 3.2%; top Nifty loser

The scrip opened at Rs. 304 and has touched a high and low of Rs. 304 and Rs. 293.65 respectively.

ITC cracked 3.2% to Rs.294.70 on NSE. The stock is top loser on Nifty.

The scrip opened at Rs. 304 and has touched a high and low of Rs. 304 and Rs. 293.65 respectively. So far 1846853(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 245046.31 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 409.7 on 28-Feb-2015 and a 52 week low of Rs. 289.05 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 305.95 and Rs. 289.05 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.93 % and 43.82 % respectively.

The stock is currently trading above its 200 DMA.

Maggi's market share falls to 35%, Yippee's share up at 33%

The share of Maggi dropped to 42% in January from a high of 77% in the year-ago month, reports a business daily.

The market share of Nestle's Maggi noodles has shrunk by almost half, according to Nielsen data. The share of Maggi dropped to 42% in January from a high of 77% in the year-ago month, reports a business daily.

ITC Foods' Sunfeast Yippee brand of instant noodles is a close second with a 33% market share, says the paper.

Others such as Nissin's Top Ramen and Cup Noodles, Ching's Secret, Wai Wai and HUL's Knorr have also seen improvement in their market share at the cost of Maggi, according to the newspaper.

Maggi was banned last year in June over allegations of excessive lead and mislabelling of monosodium glutamate (MSG). It returned to stores only in early November. 

Separately, reports indicate that the head of Nestle's Asian business is hoping to restore revenues in India within three years.

In an interview with a Swiss newspaper, Nestle's Wan Ling Martello said that all five factories that produce Maggi noodles had resumed production but not all flavors had returned to store shelves.

A complete recovery of Indian revenues by Maggi could take around three years, she said, citing experiences with similar crises elsewhere.

Filtra Consultants and Engineers to consider issue of bonus shares

The company will consider and seek approval of members for capitalization of profit and free reserves for issue of Bonus Shares.

Filtra Consultants and Engineers Ltd has now informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on February 22, 2016, inter alia, to transact the following business:

1. To consider and seek approval of members for capitalization of profit and free reserves for issue of Bonus Shares;

2. To fix the record date for issue of Bonus Shares;

3. To fix up the day, date, time and venue for convening the Extra-ordinary General Meeting.

Budget expectations: Keeping India insulated from global volatility needs further govt impetus: Emami

Capital investments in manufacturing sector and boosting rural growth are other priorities. Keeping India insulated from global volatility and promoting ‘Make in India’ would need further government impetus.

“While there is a challenge to balance growth and yet achieve fiscal objectives, one can expect government to focus on investments in infrastructure and other important sectors viz , healthcare, education, IT, metals, energy and so on. Capital investments in manufacturing sector and boosting rural growth are other priorities. Keeping India insulated from global volatility and promoting ‘Make in India’ would need further government impetus.”

Budget expectations: GST will solve issues faced by e-commerce industry

The e-commerce sector has to grapple with various taxes like VAT, CST, excise, and service taxes. Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies. We also expect that the GST is rolled out clearly in order to unlock issues faced by the e-commerce sector.

The E-commerce and Startup sector in India has high expectations from the Union Budget 2016-17 and is looking forward to a clear stand on the laws and regulations related to the Online Commerce industry.

The E-commerce sector is evolving at a fast pace but is struggling with old tax laws and regulations, as taxes are levied by both central as well as state governments. The e-commerce sector seeks the budget to give clarity on tax structure. The cash-on-delivery (COD) sales model has been introduced by most of the e-commerce players to tap potential customers. This has led to a debate on intra-state sale vs. inter-state sales tax laws. E-commerce sector has to typically cater to sale of products in all the states but various states have different regulations, so we need a uniformity of rules across states. The e-commerce sector has to grapple with various taxes like VAT, CST, excise, and service taxes. Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies. We also expect that the GST is rolled out clearly in order to unlock issues faced by the e-commerce sector.

We expect the government to simplify tax regime for startups to foster innovation and create conducive ecosystem for entrepreneurs in the country. As a startup, we welcome the move by PM Modi to offer 3 years of tax exemption under the Start-Up India action plan; but more than exemption on Income tax, the statutory and regulatory compliances related to various filings like Service Tax returns, MCA filings, TDS returns and various state specific compliances should be simplified as the filing of these documents consumes a lot of time and bogs down a startup.

We expect the Govt. to introduce e-commerce and startup friendly initiatives that will boost the e-commerce industry. Exemption of the angel tax (that taxes the capital receipts) will help the startup industry, especially when financing from banks and VCs is unavailable. Even the tax rates for the investors should be rationalized, as they also take a risk by investing in startups. Favorable policy regulations like ease of complianceand tax exemptions will boost the sector and contribute to favourable growth of the economy.

A Dedicated Corpus of Funds announced by the government under Startup India action plan will definitely help entrepreneurs and startups, as many players struggle with funds in the initial stages. However, the Govt. Must make sure that the funds are judiciously allocated so that there is uniform distribution across different industry sectors. Also, there should be limit on funds allocated to one startup.

The ‘Startup India, Standup India’ campaign has created excitement and raised hopes for the startups and entrepreneurs. We hope that the budget will lay down a clear roadmap on the execution of all the policies announced.

Budget Expectations: Govt should provide incentives to organic farmers & the industry

The Government of India, the Government of Telangana, and the World Bank today signed a US$ 75 million credit agreement for the Telangana Rural Inclusive Growth Project to enhance the agricultural incomes of small and marginal farmers in the state, and ensure increased access to services related to health, nutrition, sanitation and social entitlements.

Expectations from the Budget from the Organic Industry perspective:

With the announcement of Sikkim as the first organic state and the Prime Minister’s presence during the event, organic farming & industry in India has recently received the much required initial boost which was lacking until now. The industry so far has completely been neglected. However, the challenges faced by the organic industry in India are tremendous. The government therefore should provide incentives to organic farmers & the industry.

The government should implement the following to encourage the sector

1. Assistance for farmers: Conventional farmers receive more than Rs70,000 crores in the form of fertizliers subsidy apart from subsidized pesticides. The National Mission for Sustainable Agriculture (NMSA) currently encourages adoption of organic farming with a financial assistance @ Rs. 20,000/- ha. Subject to maximum of Rs.40,000/- per beneficiary for three years. Only Rs 200 crores was allotted for this in the previous budget. The allocation for this scheme should be increased to altleast Rs 2500 Crores.  This will encourage farmers to balance their income during the gestation period and convert to organic. Organic farming will benefit farmers in rained areas and other stressed areas the most.
2. National Organic Board: The government should further plan and create a National Organic Board an inter-ministerial body compressing of officials of Agriculture, commerce, Food processing ministries, FSSAI, FARMERS AND INDUSTRY. THE NOB should oversee both regulation and development of the sector.
3. National Organic farming Research Institute: A dedicated research institute for organic farming should be set up by the central government along with regional centers; to do research and develop appropriate technologies for organic farming.
4. Market development fund: for creating awareness about organic food in the domestic market and also promotion of Indian Organic food products abroad. Atleast Rs 200 crores should be allowed. This fund utilization could be overseen by a committee consisting of Govt. officials and Industry representatives till the National Organic Board is formed.
5. Export incentives: Overall international trade has suffered due to recessionary conditions in many countries. Indian exports are likely to decline by 25% during the current fiscal. The international organic industry is USD 80 billion and is one of the bright spots. Worldwide organic food continues to grow at 8 to 10%. It is important that we tap this opportunity. Hence we recommend that all organic products bulk or packaged products should be given export incentive of atleast 5%.
6. Avoid ban of Agricultural commodities; there should not be any restrictions on export of certified organic products so that we can build markets abroad and thereby bring in valuable foreign exchange.
7. Improve port and internal transportation infrastructure and export procedures. Currently it takes 25 to 30 days time for various clearances and shipment to reach the ports from hinterlands. Cutting this down to 10 days will tremendously benefit organic products. Better access to ports and lower interest rates are the need of the hour for the organic industry
8. GST roll out: This will reduce the transaction costs and bring down the prices for the common man. Also basic food items should be fully exempt from taxes. This would be one sure way for India to move up in the ease of doing business ranking.

Organic in Telangana:
There is a lot of potential for Telangana to become a completely organic state. However to realize this dream, the state government should come out with a comprehensive organic model policy, supported by initiatives from the central government. The policy should cover all aspects related to organic that can be made into a replicable one for other states. The policy should focus on building the organic ecosystem rather than ad-hoc announcements which decrease the consumer confidence in organic. There should be a lot more thought on standardizing organic farming in the state, malpractices in this area should be curbed. The Government of India, the Government of Telangana, and the World Bank today signed a US$ 75 million credit agreement for the Telangana Rural Inclusive Growth Project to enhance the agricultural incomes of small and marginal farmers in the state, and ensure increased access to services related to health, nutrition, sanitation and social entitlements. This amount should be utilized for promoting organic farming apart from strengthening the SHG’s (Self Help Groups).

Lupin, ONGC, SpiceJet, among 16 Stocks in focus today

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

Lupin: Lupin and Gavis Pharmaceuticals LLC have agreed to divest two generic drugs as part of the US Federal Trade Commission (FTC) requirement to complete the takeover of the US company by the Indian counterpart, according to media reports.

ONGC: The Centre's green panel has given a approval to the ONGC for its Rs. 1,752-crore project in Gujarat, as per ​a ​media report. These project​s​ involve drilling of 406 development wells in oil fields in Gujarat's Cambay Basin.

NTPC: NTPC's joint venture project with Bangladesh Power Development Board (BPDB) for setting up a 1,320 Mw power plant in Bangladesh is expected to complete secure funds in the next 6-8 months, reports a business daily.

SpiceJet: SpiceJet will see a meaningful turnaround by the end of FY17 as India’s second largest budget carrier expects to clear legacy issues over the next six months and will expand its network, reports a business daily.

Maruti Suzuki: Maruti Suzuki temporarily suspended production at its Manesar and Gurgaon plants, starting Saturday (February 20). The combined output from Manesar and Gurgoan is currently about 5000 vehicles per day.

Ashok Leyland: Ashok Leyland Ltd (ALL) has reportedly said that it does not owe any royalty to Japanese auto maker Nissan, its joint venture (JV) partner for the LCV business.

IDBI Bank: The bank plans to raise up to Rs. 1,500 crore by selling stake to Life Insurance Corporation by preferential issuance of shares to the insurer.

Suprajit Engineering: The company has raised Rs. 150 crore through a qualified institutional placement amidst the turmoil in the markets, indicating that quality papers from performing companies have great demand from high net worth investors and fund houses.

PVR: PVR announced a tie-up with New Delhi-based Ozone Networks Ltd, a Wi-Fi service provider, to offer free Wi-Fi at PVR properties.

State Bank of India: State Bank of India has raised Rs.3,000 crore through tier-II bonds, the bank said in an exchange filing.

Havells India: Havells India Ltd. plans to set up a new manufacturing unit on the outskirts of Bengaluru at an investment of INR 1,059 crore, Chairman Anil Gupta has been quoted as saying by a business daily.

Heritage Foods: Heritage Foods Ltd. is reportedly exploring multiple options to turn its retail operations profitable in the next two years with the help of new investors and strategic partners.

eClerx Services: eClerx Services has invested into BuyTestSeries.com, an e-commerce marketplace for online test series and courses co-founded by Shirish Bhatt, Himanshu Jain and Gaurav Golwalkar with an aim of becoming a leading aggregator for eLearning products and technology partner of choice for coaching classes.

Divis Labs: Divis Laboratories Ltd has announced that the Company has had a successful inspection by the US-FDA for its Unit-2 at Chippada, Bheemunipatnam near Visakhapatnam during February, 2016 with no observations.

Aditya Birla Nuvo: Aditya Birla Nuvo Ltd announced formation of a joint venture with group firm Idea Cellular to set up a payments bank.

KDDL Ltd: KDDL Ltd has announced that the Company's subsidiary, Ethos Ltd, India's largest retailer of luxury watches, has raised funds by way of issue of Equity Shares on preferential allotment basis after complying with the provisions of section 42 of the Companies Act, 2013, totalling to Rs. 2,99,99,970/- from KDDL Limited, being the promoter.

Financial closure for NTPC's Bangladesh project in 6-8 months

The proposed project at Khulna in Bangladesh is a coal-based thermal power plant with rated capacity of 1,320 Mw (2x 660 Mw).

NTPC's joint venture project with Bangladesh Power Development Board (BPDB) for setting up a 1,320 Mw power plant in Bangladesh is expected to complete secure funds in the next 6-8 months, reports a business daily.

"Financial closure of the Bangladesh project is expected to be completed in 6-8 months' time," an NTPC official has been quoted as saying by the daily.

The joint venture company was incorporated on 31st October, 2012.

The proposed project at Khulna in Bangladesh is a coal-based thermal power plant with rated capacity of 1,320 Mw (2x 660 Mw).

"For the Bangladesh-India Friendship Power Company Private Ltd (BIFPCL), the price bids for main plant of 2x660 Mw were opened on 2nd December, 2015. The respective board of Joint Venture Company has consented for issue of NOA (Notice of Award)," the NTPC official has been quoted as saying.

BHEL has emerged as the lowest bidder for the project worth US$1.6 billion. It may be awarded the project by the end of this month, reports the daily.

The tender for the project was floated by BIFPCL, a 50:50 joint venture between NTPC and Bangladesh Power Development Board (BPDB).

BHEL has outbid Larsen & Toubro (L&T) and two Chinese companies to emerge as the lowest bidder for the project, according to the paper.

Sensex, Nifty to open on a flat note

Dow Jones futures are flat while Asian markets are upbeat. The Indian equity markets staged a smart come back on Friday with indices registering its best gains in 2016.

The much awaited Budget session of Parliament begins today and attention will be on what the mood in Parliament is during this session. While Rail Budget and Economic Survey later this week and the Union Budget on Monday will be keenly watched the coming days will also reveal to what extent the government is able to take care of proceedings in Parliament. The agitation in Haryana had reportedly caused a damage of  Rs 18,000-Rs 20,000 crore by way of loss to public and private property and halting trade, industry, small business and transport, says an Assocham report. Several auto companies in Manesar had to suspend operations due to the protests.

The outlook for the stock market is a flat start. Dow Jones futures are flat while Asian markets are upbeat. The Indian equity markets staged a smart come back on Friday with indices registering its best gains in 2016. The rupee came exceedingly close to surpassing its previous all time low of Rs68.80 per US$ which it had hit in August 2013.Sentiment undoubtedly was hurt after SBI said that NPAs could rise in the fourth quarter too. The courts have swung into action with the Supreme Court stepping in regarding two issues, banks' bad loans and unviable air routes.

Reliance Industries (RIL) Chairman Mukesh Ambani said that the telecom unit is "ready" to roll out its fourth-generation (4G) services, and will cover 80% of India's 1.3 billion population by the second half of 2016.

Filtra Consultants and Engineers will consider issue of bonus shares while Vertex Securities board will meet to mull issue and allotment of the equity shares. Mahindra Cie Automotive and Zyden Gentec will announce their results.

Tata Consultancy Services is raising the notice period for its Indian employees to three months starting March, from just a month previously, at a time with the Indian IT sector is grappling with higher attrition.

India’s foreign exchange reserves surged by $347.2 mn in the week ended February 12 to $351.83 billion, according to RBI data.

The BJP government is seeking to step up its drive to modernise the railways by increasing investment in creating new capacity and assets by 20-30 per cent in the rail budget.

Ratan Tata accused older airlines of lobbying with the Government not to relax the 5/20 rule and that they were afraid of facing competition from the two new carriers where the Tata group is a shareholder. The 5/20 rule makes it mandatory for domestic airlines to have five years of operational history in India and have a fleet of at least 20 planes to commence overseas flights.

Start-ups in India are expected to raise $700 mn (Rs. 4,792 crore at $1 = Rs. 68.46) and create 5,000 jobs in next 12 months, according to a report by InnoVen Capital.

Bharti Airtel Limited (“Airtel”), India’s largest telecommunications services provider, has become the first mobile operator in India to commercially deploy LTE-Advanced (4G+) technology (carrier aggregation across TD LTE and LTE FDD) on a LIVE 4G network.