Ruchi Soya gains on unveiling refined sunflower oil in Tamil Nadu

Ruchi Soya Industries is currently trading at Rs. 34.35, up by 0.25 points or 0.73% from its previous closing of Rs. 34.10 on the BSE. The scrip opened at Rs. 34.90 and has touched a high and low of Rs. 34.90 and Rs. 34.15 respectively. So far 50226 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 73.85 on 29-Apr-2013 and a 52 week low of Rs. 26.15 on 23-Aug-2013. Last one week high and low of the scrip stood at Rs. 35.45 and Rs. 30.50 respectively. The current market cap of the company is Rs. 1165.82 crore. The promoters holding in the company stood at 55.86% while Institutions and Non-Institutions held 15.80% and 28.35% respectively. Ruchi Soya Industries has launched its refined sunflower oil ‘Sunrich’ in Tamil Nadu. Following the launch, the company is aiming to take its share for Sunrich in the sunflower oil category to 10 per cent and then to 15 per cent in next two to three years. Towards this initiative, the company planned to step up the marketing activities which include 'tripling' of distribution network. At present, the company has about seven lakh retail outlets across the country and the introduction of ‘Sunrich’ was the first step of the company to establish a dominant presence in the segment. Ruchi Soya is India’s leading FMCG Company, India’s number one cooking oil and soy food maker and marketer. It is also the highest exporter of soya meal, lecithin and other food ingredients from India.

Anuh Pharma soars on getting approval from COFEPRIS for three of its Erythromycin products

Anuh Pharma is currently trading at Rs. 163.40, up by 11.60 points or 7.64% from its previous closing of Rs. 151.80 on the BSE. The scrip opened at Rs. 151.40 and has touched a high and low of Rs. 165.00 and Rs. 151.40 respectively. So far 14130 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 168.80 on 25-Feb-2014 and a 52 week low of Rs. 105.00 on 13-Aug-2013. Last one week high and low of the scrip stood at Rs. 165.00 and Rs. 146.00 respectively. The current market cap of the company is Rs. 128.20 crore. The promoters holding in the company stood at 65.00% while Non-Institutions held 35.00% stake in the company. Anuh Pharma has received approval from COFEPRIS (Health Authority of Mexico) GMP certificate for three of its Erythromycin products. These three products are Erythromycin Estolate, Erythromycin Ethyl Succinate and Erythromycin Stearate. Anuh Pharma is one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs). The company is part of the SK Group, which has evolved as a leading importer, exporter, distributor and manufacturer of bulk drugs, chemicals and pharmaceutical formulations.

Videocon Inds gains on plans of increasing products offering

Videocon Industries is currently trading at Rs. 174.85, up by 2.75 points or 1.60 % from its previous closing of Rs. 172.10 on the BSE. The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 177.50 and Rs. 173.00 respectively. So far 31775 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 232.00 on 11-Jun-2013 and a 52 week low of Rs. 153.00 on 09-Dec-2013. Last one week high and low of the scrip stood at Rs. 175.25 and Rs. 160.40 respectively. The current market cap of the company is Rs. 5648.63 crore. The promoters holding in the company stood at 68.82 % while Institutions and Non-Institutions held 12.04 % and 10.97 % respectively. Videocon Industries, part of the Videocon Group, is planning to invest Rs 125 crore to launch more products and technologies, beef up its distribution network and promote ACs aggressively across its three brands - Electrolux, Kelvinator and Videocon. The company wants to regain some of its lost market share in the AC category by launching more products and technologies. In recent years, the company saw its market share dwindle after South Korean companies LG Electronics and Samsung Electronics Co started dominating the domestic AC segment. Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.

World Bank forecasts India’s economy to grow at 5.7% in FY15

In yet another development which would add to the cheer of policymakers battling to restore faltering growth in Asia's third-largest economy, the World Bank on Wednesday projected an economic growth rate of 5.7 percent in fiscal year 2015 for India on the back of a more competitive exchange rate and many large investments going forward.  This development comes a day after multilateral agency International Monetary Fund (IMF) projected India's economy to grow by 5.4% in 2014-15 and 6.4% in 2015-16 on the back of strengthening global growth, improving export competitiveness and implementation of recently approved investment projects. World Bank in its latest edition of 'South Asia Economic Focus, bolstered by permanently more competitive exchange rate and progress towards clearance of important investment projects, forecasted India to see an acceleration of growth (factor costs) to 5.7 percent in FY 2015 from 4.8 percent in FY 2014. The Indian rupee, which plunged to all-time low of 68.85 in August last year, has since then recovered substantially to trade sub 60-levels against the US dollar. However, it pointed that country faces significant amount of threat from its banking sector growing exposure to company debt, which could ultimately affect the government's finances through its ownership and the need to prop up distressed but systemically important banks. Nonetheless, it underscored that South Asian countries - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka - have all largely recovered from last year's financial turmoil caused by changes in US Federal Reserve monetary policy. Besides, World Bank in twice-a-year ‘South Asia Economic Focus’, forecasted that economic growth in the region would rise to 5.8 per cent in 2015 from 5.2 per cent this year and 4.8 percent last year

Bharti Airtel rings loud in early deals on BSE

Bharti Airtel is currently trading at Rs. 321.90, up by 1.70 points or 0.53 % from its previous closing of Rs. 320.20 on the BSE. The scrip opened at Rs. 319.25 and has touched a high and low of Rs. 324.65 and Rs. 319.25 respectively. So far 46127 shares were traded on the counter. The BSE group 'A ' stock of face value Rs. 5 has touched a 52 week high of Rs. 373.50 on 01-Nov-2013 and a 52 week low of Rs. 271.50 on 15-Apr-2013. Last one week high and low of the scrip stood at Rs. 327.80 and Rs. 312.00 respectively. The current market cap of the company is Rs. 129335.88 crore. The promoters holding in the company stood at 65.23 % while Institutions and Non-Institutions held 24.53 % and 10.24 % respectively.   Bharti Airtel has inaugurated 100 retail outlets in the country in the last 14 months to offer best service experience to customers. The company has ventured into its company-owned-company-operated (COCO) stores in February last year with the opening of the first store in Delhi. The company has extended this retail footprint to 35 cities and towns across 14 states in a span of 14 months. The stores employ over 1,000 staff members. Further, the new Airtel stores also has outlets that will be run as well as managed by women employees, and will focus on addressing the needs of female customers across the country especially tier 2 and 3 cities. Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.

Physical Rubber prices declined on Wednesday

Physical Rubber prices declined on Wednesday following the moderate losses in the domestic and international futures. Further, scattered transactions in the market too influenced rubber prices. Spot prices for RSS-4 variety declined to Rs 147 compared to its previous closing of Rs 148; while the RSS-5 variety closed at Rs 143 compared to its previous closing of Rs 143.50. In the futures market, contract of April delivery dropped to Rs 142.70 compared to its previous close of Rs 144.24, while May delivery closed at Rs 146.15 compared to its previous closing of Rs 148.15 on the National Multi Commodity Exchange (NMCE).

CARE reaffirms ratings of Aurionpro Solutions’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB-’ rating to Aurionpro Solutions’ long term bank facilities worth Rs 58.00 crore which was reduced from Rs 59.66 crore and ‘A3’ rating to company’s Short term Bank Facilities worth Rs 50 crore. The company has received the ratings on the back of its experienced and professionally qualified promoters and management, geographically diversified revenue profile along with large and abiding customer base and comfortable capital structure.

AurionPro Solutions is a publicly traded technology company providing software products and expert level consulting services to an extensive global customer base. The company provides valuable operational and technical experience in helping banks provide new and innovative products to their customers.

Prime Focus surges as its arm raises Rs 45 crore through private placement of OCDs

Prime Focus is currently trading at Rs. 30.30, up by 0.85 points or 2.89% from its previous closing of Rs. 29.45 on the BSE. The scrip opened at Rs. 30.00 and has touched a high and low of Rs. 30.40 and Rs. 29.90 respectively. So far 70156 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 41.80 on 21-Jun-2013 and a 52 week low of Rs. 23.75 on 05-Dec-2013. Last one week high and low of the scrip stood at Rs. 29.85 and Rs. 27.50 respectively. The current market cap of the company is Rs. 546.05 crore. The promoters holding in the company stood at 41.58 % while Institutions and Non-Institutions held 5.48 % and 52.94 % respectively. Prime Focus’ technology subsidiary - Prime Focus Technologies (PFT), has raised Rs 45crore through a private placement of optionally convertible debentures (OCDs) from a diverse base of High Net-worth Individuals. The funds raised would be used to fuel expansion of its Cloud Technology, CLEAR in the global markets as well as for retiring debt. After 2 years, investors will also have an option of converting up to 25% of the total principal amount into equity of PFT. As part of the process, the current base equity valuation of PFT as determined by a Big Four accounting firm has been established at Rs 1,100 crore. CLEAR Media ERP is a pioneering solution and market leader with the world’s biggest broadcasters and distribution networks using it for managing their revenue and time critical content operations. CLEAR already hosts and manages over 350,000 hours of content and delivers more than 200 TV shows a day.

MAN Industries soars on bagging order worth Rs 700 crore

MAN Industries is currently trading at Rs. 71.00, up by 5.95 points or 9.15% from its previous closing of Rs. 65.05 on the BSE.

The scrip opened at Rs. 70.20 and has touched a high and low of Rs. 76.00 and Rs. 66.40 respectively. So far 1,98,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 110.50 on 10-Jul-2013 and a 52 week low of Rs. 51.10 on 04-Dec-2013.

Last one week high and low of the scrip stood at Rs. 76.00 and Rs. 61.05 respectively. The current market cap of the company is Rs. 413.00 crore.

The promoters holding in the company stood at 52.31% while Institutions and Non-Institutions held 10.01% and 37.68% respectively.

MAN Industries has bagged an order worth Rs 700 crore from domestic and international customers for supply of large diameter pipes for Oil and Gas as well as water sector projects. With this, the company’s order book stood at around Rs 1200 crore.

In addition to the above confirmed order the company has outstanding bids over dollar one billion at various stages of evaluation for several other Oil, Gas and Water projects in India and abroad.

Man Industries (India) is engaged in manufacturing of LSAW Line Pipes, Hsaw Line Pipes and Aluminium Extruded Products. The company has received various certifications such as API, ISO-9001, ISO-9002, ISO-14001, and ISO-18001 for its quality management.

Markets to extend the gaining momentum with a positive start

The Indian markets went for a rally in last session; the election exuberance was clearly visible in marketmen mood and there was aggressive buying after the IMF increased its growth forecast for India in 2014. Today, the start is likely to be in green and the momentum is expected to remain firm, as after IMF, now World Bank has projected an economic growth rate of 5.7 percent in fiscal year 2015 for India on the back of a more competitive exchange rate and many large investments going forward. In other good news, on the back of better business environment India Inc raised $2.72 billion more through external commercial borrowings (ECB) in the first 11 months of financial year 2013-14. The steel stocks may see some action on the World Steel Association (WSA) statement that India’s steel demand may grow 3.3 per cent this year on higher demand from construction and manufacturing sectors. There will be some buzz in the aviation stocks too, as the Sebi is likely to pass final order on Jet Airways, Etihad Airways deal soon.

The US markets bounced back, ending higher in last session following the release of the minutes of the latest Federal Reserve meeting that eased concerns about the central bank raising interest rates sooner than anticipated. The Asian markets after a positive start has pared some gains after the report that Chinese exports unexpectedly fell.

Back home, boisterous benchmarks showcased an enthusiastic performance on Wednesday with bull taking full control of the session as investors continued hunt for fundamentally strong stocks. Earlier, markets after a gap-up opening traded in very tight-band for most part of the day but massive buying in last leg of trade mainly underpinned markets to clock record closing high. Sentiments remained up-beat as traders remained bullish about corporate India’s improvement in new orders and sales growth on a slew of project clearances undertaken by the government in recent months and the possibility of a stable government at the centre, post the Lok Sabha elections. Marketmen also remained optimistic on International Monetary Fund’s (IMF) latest edition of the World Economic Outlook, stating that India’s growth is expected to recover from 4.4 percent in 2013 to 5.4 percent in 2014 supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects. Hopes of BJP-led government coming to power too aided the sentiments. Supportive cues from US markets too provided some support to local markets, while Asian markets too ended mostly in the green terrain. Firm opening in European counters too supported the sentiments. Back home, there was broad based buying witnessed in the markets and apart from the blue chips, the broader markets too participated strongly in the rally. Frontline indices ended the session near their day’s high levels with Sensex settling comfortably above their crucial 22,700 levels, while Nifty ended tad below the psychological 6,800 mark, as investors took to hefty across the board buying. The markets sentiment was also boosted by data showing that foreign funds remained net buyers of Indian stocks on April 7, 2014. Foreign institutional investors (FIIs) bought shares worth a net Rs 703.71 crore on Wednesday, as per provisional data from the stock exchanges. Meanwhile, rally in banking stocks like Bank of Baroda, South Indian Bank, Indian Bank and Oriental Bank of Commerce supported the sentiments as certain broking firms have upgraded the banking sector to Neutral from Negative earlier on signs of a slight economic turnaround. Moreover, sugar stocks continued to remain on buyers’ radar as speculators indulged in creating positions, supported by summer season demand from bulk consumers amid fall in production. Finally, the BSE Sensex surged by 358.89 points or 1.61%, to settle at 22702.34, while the CNX Nifty gained 101.15 points or 1.51% to settle at 6,796.20.