Neyveli Lignite rallies after govt allots Talabira-II & III Coal Mines in Odisha

The company informed that Ministry of Coal has conveyed the allotment of Talabira-II & III Coal Mines in the State of Odisha to NLC by the Competent Authority in order to meet the coal requirements for the power projects of the Subsidiary companies viz., NLC Tamilnadu Power Limited (5 MTPA), Neyveli Uttar Pradesh Power Limited (10MTPA) and Sirkali Power Project (20MTPA).

Neyveli Lignite Corporation Ltd rallied 8.48% to Rs.71.60 on BSE after the company informed that Ministry of Coal, vide O.M.F.No.13016/9/2015-CA-3(Pt.) dt. February 8, 2016 has conveyed the allotment of Talabira-II & III Coal Mines in the State of Odisha to NLC by the Competent Authority in order to meet the coal requirements for the power projects of the Subsidiary companies viz., NLC Tamilnadu Power Limited (5 MTPA), Neyveli Uttar Pradesh Power Limited (10MTPA) and Sirkali Power Project (20MTPA).

The scrip opened at Rs. 67 and has touched a high and low of Rs. 74.45 and Rs. 64.3 respectively. So far 545328(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11072.89 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.25 on 07-Aug-2015 and a 52 week low of Rs. 65 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 68 and Rs. 65.15 respectively.

The promoters holding in the company stood at 90 % while Institutions and Non-Institutions held 8.41 % and 1.59 % respectively.

The stock is currently trading above its 200 DMA.

Global Crude oil price of Indian Basket was US$ 31.26 per bbl on Monday

The international crude oil price of Indian Basket as computed/published by PPAC under the Ministry of Petroleum and Natural Gas was US$ 31.26 per barrel (bbl) on Monday.

The international crude oil price of Indian Basket as computed/published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 31.26 per barrel (bbl) on Monday. This was higher than the price of US$ 31.07 per bbl on Friday.

In rupee terms, the price of Indian Basket increased to Rs 2142.93 per bbl on Monday as compared to Rs 2127.88 per bbl on Friday. Rupee closed weaker at Rs 68.55 per US$ on Monday as against Rs 68.49 per US$ on Friday. The table below gives details in this regard:

Particulars	Unit	Price on February 22, 2016 (Previous trading day i.e. 19.02.2016)	Pricing Fortnight for 16.02.2016 (28 Jan to  11 Feb, 2016)
Crude Oil (Indian Basket)	($/bbl)	31.26             (31.07)	30.05
	(Rs/bbl	2142.93         (2127.88)	2040.70
Exchange Rate	(Rs/$)	68.55             (68.49)	67.91

Budget session begins: Highlights of President’s address to Parliament

Parliament reflects the supreme will of people. Democratic temper calls for debate & discussion and not disruption or obstruction, says President

As part of the budget session proceedings, President Pranab Mukherjee today addressed both Houses of Parliament . 

Following are key highlights of the President’s speech:

Parliament reflects the supreme will of people. Democratic temper calls for debate & discussion and not disruption or obstruction

Make in India initiative has achieved 39% increase in FDI inflow despite adverse global investment climate

Rural development is one of the top priorities of government. The development philosophy of government ‘Sabka saath, Sabka vikas’  is to eradicate poverty which is the worst kind of violence. Well being of farmers is vital to the nation’s prosperity

Government is committed to the philosophy of ‘per drop, more crop’

Defence procurement procedure has been streamlined with a focus on indigenously designed, developed & manufactured weapon systems

Working to ensure that our Armed Forces will be equipped with the most capable and sophisticated armaments in the world

Government played a proactive role in addressing climate change by launching International Solar Alliance

Government focused on Sabka Vikas, beyond just the economic advancements that dominate headlines.  Sabka Vikas means that backward sections of society are equally valued and are genuine stakeholders in the country’s progress.  We must ensure that the poor and deprived are truly empowered to take advantage of opportunities to improve their lives

Firm and effective steps will be taken to deal with any situation arising out of cross-border terrorism 

Setting up world-class infrastructure for Electronics manufacturing across the country remains a priority for Government. 29 Electronic Manufacturing Clusters are under development

The country recorded the highest ever software exports during 2015

The government has revived majority of the 73 stalled road projects, completed construction of 7200km of highway

In 2015 India witnessed the highest ever generation of electricity

MGNREGA scheme has been revamped to ensure efficient disbursements of wages and creation of productive assets 

NTPC OFS: Non-retail subscription at 1.31 times

The Government aims to garner Rs. 5,000 crore via 5% stake sell in the state-run power company through an OFS. The OFS will be closed tomorrow February 24. Retails investors, for whom 20% shares have been reserved, will get to bid on February 24.

The offer for sale (OFS) from NTPC Ltd, which opened today for subscription, has received bids for 43,20,52,292 shares in the non-retail portion as against the non-retail issue size of 32,98,18, 576 shares, which is 1.31times more.

The Government aims to garner Rs. 5,000 crore via 5% stake sell in the state-run power company through an OFS. The OFS will be closed tomorrow February 24. Retails investors, for whom 20% shares have been reserved, will get to bid on February 24.

After the market regulator Sebi revised the OFS guidelines, NTPC is the first company to come up with an OFS. The floor price for NTPC’s OFS is Rs. 122 a share.

“The floor price for the offer shall be Rs 122 per equity share," NTPC said in a regulatory filing. "Retail investors shall be allowed to place their bids only on the T+1 day. Further, those non-Retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the SEBI OFS Circulars,” NTPC said in a statement. 

Tata Steel to restructure domestic biz

The steel major is said to be in consultation with some big firms, including EYE, KPMG, PwC, and Deloitte for several cost-cutting and revenue enhancement projects.

With an aim to cut costs and increase productivity, Tata Steel Ltd is looking to restructure its India business, reported a financial daily. Sluggish demand in domestic markets, increasing cheap imports, and shrinking profitability are considered to be the key factors behind the company’s latest move.

The steel major is said to be in consultation with some big firms, including EY, KPMG, PwC, and Deloitte for several cost-cutting and revenue enhancement projects. The business restructuring will take place across functions including human resources, production, marketing, etc.

Compared with rival JSW Steel, Tata Steel has an annual production capacity of 10 MT with workforce of nearly 37,000; while JSW’s total annual production capacity stands at 14.3 MT, with a headcount of over 12,200.

Reliance Industries unit acquires 5% stake in Media Matric

A unit of Reliance Industries has acquired nearly 5% stake in Mahendra Nahata-promoted Media Matric Worldwide for about Rs. 40 crore, according to reports.

A unit of Reliance Industries has acquired nearly 5% stake in Mahendra Nahata-promoted Media Matric Worldwide for about Rs. 40 crore, according to reports.

Report says that Ojasvi Trading acquired 5.25 crore shares in three separate block deals.

Reliance Industries Ltd is currently trading at Rs. 964, up by Rs. 1.55 or 0.16% from its previous closing of Rs. 962.45 on the BSE.

The scrip opened at Rs. 964 and has touched a high and low of Rs. 966.9 and Rs. 956.75 respectively. So far 1395486(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 311799.48 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1089.5 on 15-Jan-2016 and a 52 week low of Rs. 796.75 on 30-Mar-2015. Last one week high and low of the scrip stood at Rs. 967.9 and Rs. 917.1 respectively.

The promoters holding in the company stood at 45.2 % while Institutions and Non-Institutions held 31.96 % and 19.71 % respectively.

The stock is currently trading above its 50 DMA.

Railway budget: Can auto sector help Suresh Prabhu boost revenues?

Auto and FMCG segments are on the radar to increase freight revenue, says a report. About 46 commodities are being explored to improve the revenues.

The railways desperately needs revenues to come in to boost their income and Railway Minister Suresh Prabhu is likely to tap newer areas to roll in the money. Auto and FMCG segments are on the radar to increase freight revenue, says a report.  About 46 commodities are being explored to improve the revenues.
 
One report stated that Railways is drifting from billions(operating cash surplus of $6 billion and operating ratio of 76% in FY08) to bankruptcy (operating cash loss of around $5 billion and operating ratio of 120%) in FY17.
 
While a report stated that the hike in passenger fares in some cases could be to the extent of 5 to 10%, there is a possibility of some hike in freight rates also in few segments. 

VA Tech Wabag: Co's Austrian Subsidiary is liquidated

VA Tech Wabag Egypt Limited ceases to be a step-down subsidiary of the company.

VA Tech Wabag Ltd has announced that VA Tech Wabag Egypt Limited, a subsidiary of VA Tech Wabag GmbH, Austria, the company’s step-down subsidiary is liquidated.

Consequent to the above, VA Tech Wabag Egypt Limited ceases to be a step-down subsidiary of the company.

The scrip opened at Rs. 514 and has touched a high and low of Rs. 521.2 and Rs. 511 respectively. So far 8072(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2787.76 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 970 on 17-Mar-2015 and a 52 week low of Rs. 510 on 22-Feb-2016. Last one week high and low of the scrip stood at Rs. 548 and Rs. 510 respectively.

The promoters holding in the company stood at 28.95 % while Institutions and Non-Institutions held 52.4 % and 18.65 % respectively.

The stock is currently trading above its 200 DMA.

SpiceJet launches Pre-Summer Sale with Rs 599/- starting fares

The three day sale launched today will be open till midnight, 25th February 2016. The travel period covered in this sale is 1st March 2016 to 13th April 2016.

SpiceJet, the country’s favourite low-fare airline, is all set to kick start its ‘Pre-Summer Sale’ with red hot fares across its domestic network. The airline’s summer bonanza offers one-way base fare as low as Rs. 599/- for all its non-stop flights across its domestic network.

The three day sale launched today will be open till midnight, 25th February 2016. The travel period covered in this sale is 1st March 2016 to 13th April 2016.

Shilpa Bhatia, Sr. VP, Commercial, SpiceJet, said, “Pre-summer Sale is best suited for travelers who prefer off-season travel to save costs and avoid tourist rush. March – April being a spring season is also good for those travelers also who want to avoid extreme weather conditions.”

Tickets for this new sale can be booked on www.spicejet.com, on online travel portals, and through travel agents. Tickets under this offer are refundable (only statutory taxes will be refunded) though changeable with a change fee and fare difference.

There is limited inventory under the offer, and seats will be available on First-Come-First-Served basis. Sales fares are not applicable on group bookings. Fares vary from sector to sector depending on the travel distance and flight schedules and timings are subject to regulatory approvals and change(s).

ONGC-Essar consortium strikes gas in Mumbai High

The consortium of ONGC and Essar Exploration & Production Ltd (Mauritius) has filed details of the discovery with the Directorate General of Hydrocarbons (DGH), adds the financial newspaper.

A consortium of Oil & Natural Gas Corporation (ONGC) and an arm of Essar Energy have struck natural gas in the Mumbai High fields, reports a business daily.

The consortium of ONGC and Essar Exploration & Production Ltd (Mauritius) has filed details of the discovery with the Directorate General of Hydrocarbons (DGH), adds the financial newspaper.

The gas discovery was made in the first exploratory well of the Block MB-OSN-2005/3 in the Mumbai Offshore Basin, which the consortium bid for as part of New Exploration Licensing Policy (NELP) VII, reports the paper.

Total hydrocarbon resources in this well is estimated to be in the 350-500 bcf (billion cubic feet) range.

ONGC has a 70 per cent participating interest in the block, while Essar holds the remaining 30 per cent with a production sharing contract (PSC) with the Government of India.

ONGC is the operator of the field, while Essar mapped the target field.

After the technical engagement with the DGH, the consortium will conduct a final appraisal of the discovery after which the reservoir will be delineated and commercialised, according to the daily. 

The whole process could take a minimum of 18-24 months, it adds.

NTPC, UltraTech Cement,Eicher Motors, Cairn 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.

NTPC: The Government of India is selling 5% of its stake in India's largest power producer NTPC via Offer for Sale (OFS) today. The Floor Price for the Offer is set to be Rs. 122, and the government is expecting to mop up Rs. 5000 crore through the sale.

ONGC, RIL: State run oil and gas exploration company ONGC has demanded compensation of $1.4 billion from Reliance Industries for siphoning of gas from its well in the Krishna-Godavari basin, as per reports.

Cairn India, Vedanta & PNB: Cairn India, Vedanta & PNB to be excluded from Nifty 50 with effect from April, 1.

Aurobindo Pharma, Bharti Infratel, Eicher Motors: Aurobindo Pharma, Bharti Infratel will  be included in Nifty 50, while Eicher Motors, Tata Motors DVR will also be included In Nifty 50 with effect from April, 1.

Vijaya Bank: Vijaya Bank has said it will issue additional Tier-I bonds to raise Rs 500 crore.

BHEL: Bharat Heavy Electricals Ltd (BHEL) is all set to secure a major power contract worth $1.6 billion in Bangladesh beating competition from China as per reports.

Thermax: The company received an order worth Rs.353 crore from Rashtriya Chemicals and Fertilizers Limited (RCF) to execute an energy efficiency improvement project.

Wipro: Wipro has entered into a partnership with Verveba Telecom, LLC, a premiere telecom network engineering company specializing in network planning, design, deployment and mobile radio network optimization services for telecom service providers.

Inox Wind: The company has commissioned common power evacuation systems at its Lahori site in Madhya Pradesh.

UltraTech Cement: US buyout firm KKR and Ultra-Tech, are in the race to acquire cement division of Jaiprakash Associates, according to reports.

Ujaas Energy: The company has received an order from Airport Authority of India (AAI) for Grid Connected Ground Mounted Solar Photo Voltaic Power Plant for Jaipur Airport of 1800 KWp. The approx cost of the order is Rs. 10.82/- Crore.

Tata Comm: Tata Communications launched Data Roaming Boost, a global service that enables mobile network operators and service providers to deliver a significantly improved mobile internet experience for their customers, with the potential to halve the time it takes to open a webpage or application on their smart device whilst they are traveling overseas.

Godrej Consumer: The company will increase shareholding in many of its joint ventures as part of its consolidation process.

JSW Steel: The company said that it has re-commissioned the Blast Furnaces at its Viiayanagar and Salem Works.

HCL Tech: HCL Technologies (HCL) and Symantec announced their plan to expand their current partnership to help enterprises in areas of cloud security, cyber threats, and forensic solutions.

Adani Ports: Adani Ports & Special Economic Zone Ltd. is actively looking at acquisitions to complete its “string of pearls” ports strategy, reports a business daily. CEO Karan Adani is leading the drive, it adds.

Bharti Airtel: The promoters of Bharti Airtel Ltd, the Mittal family and SingTel, are looking to acquire an additional 6% stake in the telecom firm, as per media reports.

Ricoh India: The company has got an order worth Rs. 344 crore from Kerala State Electronics Development Corporation for Supply, Installation and Commissioning of Computer Hardware, Connected Accessories, Software, Maintenance of Equipment(s) and provision of Computer Education Services in 2000 Government & Government Aided High Schools in the State of Odisha on Five Years BOOT Model Project under ICT@School Scheme.

Rajesh Exports: The company bagged an order worth Rs.840 crore in the UAE.

Jet Airways: Jet Airways  is expanding its operations to Bangkok with the launch of new daily flights from its hubs in Mumbai and Delhi.

PVV Infra: PVV Infra Ltd has informed BSE that the company has received an order for construction of prefab toilets under "Swatch Vidayalaya Abhiyan programme" from NPCC Ltd (NATIONAL PROJECT CONSTRUCTION CORPORATION LIMITED), a Government of India undertaking, for construction/installation of pre-fabricated toilets in six districts of Odisha.

Rupee opens at 68.65/$, down 5 paise

On Monday, the rupee ended at 68.60/$, weaker by 14 paise. The currency touched a high and low of 68.56 and 68.70 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.55 and for Euro stood at 76.19 on February 22, 2016.

Indian Rupee opened lower by 5 paise at 68.65/$ in early trade on Tuesday as against the previous close of 68.60/$. On Monday, Indian rupee weakened to 30 month low against the greenback, impacted by month end dollar demand from the importers and persistent foreign capital outflows. Moreover, strong tone in US dollar against basket of major currencies took a toll on Indian rupee.

In international markets, British Pound tumbled to seven‐year low of $1.40. After the agreement between UK and European officials for Britain to stay in the EU, there seems to be intense controversy, with a difference of opinion emerging in the UK Conservative Party. Weak tone in British Pound also impacted Euro and Yen and as a result, US dollar index surged to three week high.

On Monday, the rupee ended at 68.60/$, weaker by 14 paise. The currency touched a high and low of 68.56 and 68.70 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.55 and for Euro stood at 76.19 on February 22, 2016. While, the RBI’s reference rate for the Yen stood at 60.75, the reference rate for the Great Britain Pound (GBP) stood at 97.8438.

Sensex slips 100 points

The BSE Mid-cap Index is trading down 0.21% at 9,856, whereas BSE Small-cap Index is trading down 0.05% at 9,917.

 At 9:24 AM, the S&P BSE Sensex is trading at 23,693 down 95 points, while NSE Nifty is trading at 7,221 down 22 points.

The BSE Mid-cap Index is trading down 0.21% at 9,856, whereas BSE Small-cap Index is trading down 0.05% at 9,917.

The Budget session of Parliament will get underway with President Pranab Mukherjee addressing the joint session of Parliament.  To what extent the government can handle the differences to turn their dreams into reality will be closely watched.  Oil prices skyrocketed  on Monday. OPEC may consider other steps to tackle ongoing global glut if a recent deal to freeze current output holds for several months. US stock indices rallied on Monday on the back of a 6% jump in oil prices.

Sensex, Nifty to open on a positive note

Nifty is showing some signs of creating a short term base. However, 7240 is acting as a critical resistance; a breach above the same would mean that Nifty would make a dash towards the 7365 mark.

The Budget session of Parliament will get underway with President Pranab Mukherjee addressing the joint session of Parliament.  To what extent the government can handle the differences to turn their dreams into reality will be closely watched.  Oil prices skyrocketed  on Monday. OPEC may consider other steps to tackle ongoing global glut if a recent deal to freeze current output holds for several months. US stock indices rallied on Monday on the back of a 6% jump in oil prices

The outlook is a positive start. Nifty is showing some signs of creating a short term base. However, 7240 is acting as a critical resistance; a breach above the same would mean that Nifty would make a dash towards the 7365 mark. As the week progresses, volatile trading sessions are in store amid derivatives expiry. In fact indices could turn choppy at higher levels today itself.  The currency movement will also be in focus. The dollar climbed, helped by the British pound’s decline amid uncertainty over the outcome of the June referendum to decide UK's future as EU member.

Most international models indicate that El Nino would subside by summer, creating neutral conditions for the southwest monsoon season in the country, reports a business daily.

Shares of United Technologies Corp. and Honeywell International Inc. rose on Monday after a business television channel reported that the two companies had held merger talks.

US buyout firm KKR and Ultra-Tech, are in the race to acquire cement division of Jaiprakash Associates, according to reports.

ADRs of Tata Motors, Infy, Vedanta advanced on Wall Street. US stock indices rallied on Monday on the back of a 6% jump in oil prices with the Dow Jones Industrial Average gaining more than 200 points.  The Dow advanced by 228.67 points, or 1.4%, to end at 16,620.66 with 29 of its 30 members closing higher. The S&P 500 index climbed 27.72 points, or 1.4%, to close at 1,945.50.  The energy sector was up 2.2%. All ten main sectors of the S&P 500 index closed higher, while half of them outperformed the broader market. The Nasdaq Composite index surged by 66.18 points, or 1.5%, to settle at 4,570.61.

The expiring March crude futures jumped 6.2%, to settle at US$31.48 a barrel, after Baker Hughes reported a decline in oil rigs on Friday. It was the ninth straight weekly drop in the US rig count. Gold futures dropped 1.7% to settle at US$1,210.10 an ounce.

The ICE US Dollar index - which measures the dollar against a basket of six major currencies - jumped 0.8% to 97.37.