Piramal, CPPIB form strategic alliance for $500 million realty debt fund

Piramal Enterprises (PEL), one of India’s largest diversified companies has formed a strategic alliance with CPPIB Credit Investments, a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB) for providing rupee debt financing to residential projects across India’s major urban centres. CPPIB and PEL have each initially committed $250 million for this purpose. Indiareit Fund Advisors (Indiareit), the real estate fund management arm of PEL, has been appointed as advisor.

The investment focus shall include the provision of project level debt financing to top tier local developers with a strong track record in delivering high-quality residential projects. The focus will be on residential developments in Mumbai, Delhi NCR, Bangalore, Pune and Chennai - markets with good civic infrastructure, strong employment and population growth forecasts, which provide favourable absorption dynamics for middle income housing.

Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and information management sectors.

Tata Steel reports Q3 consolidated net profit at Rs 503.24 crore

Tata Steel has reported results for third quarter ended December 31, 2013.

The company has reported 45.14% rise in its net profit at Rs 1518.77 crore for the quarter as compared to Rs 1046.39 crore for the same quarter in the previous year.   Total income of the company has increased by 10.65% at Rs 10408.20 crore for quarter under review as compared to Rs 9406.03 crore for the quarter ended December 31, 2012.

On the consolidated basis, the group has reported a net profit after taxes, minority Interest and share of proflt/(loss) of associates at Rs 503.24 crore as compared to a net loss of Rs 763.06 crore in the same quarter previous year. Total income of the group rose by14.27% to Rs 36753.94 crore for quarter under review as against Rs 32163 crore in corresponding quarter previous year.

Oil India reports 4% decline in Q3 net profit

Oil India has reported results for third quarter ended December 31, 2013.

The company has reported 3.97% decline in its net profit at Rs 902.96 crore for the quarter, as compared to Rs 940.29 crore for the same quarter in the previous year.  However, total income of the company increased by 5.38% at Rs 3052.37 crore for quarter under review as compared to Rs 2896.61 crore for the quarter ended December 31, 2012.

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company. Oil India has over 1 lakh sq km of PEL/ML areas for its exploration and production activities, most of it in the Indian North East, which accounts for its entire crude oil production and majority of gas production. Rajasthan is the other producing area of the company, contributing 10 per cent of its total gas production.

BPCL reports net loss of Rs 1088.94 crore in Q3

Bharat Petroleum Corporation (BPCL) has reported results for third quarter ended December 31, 2013.

The company has reported a net loss of Rs 1088.94 crore for the quarter as compared to net profit of Rs 1647.57 crore for the same quarter in the previous year. However, total income of the company has increased by 3.58% at Rs 65018.42 crore for quarter under review as compared to Rs 62770.52 crore for the quarter ended December 31, 2012.

BPCL is into exploration, production and retailing of petroleum and petrol related products. The retail business unit of BPCL is into marketing of petrol, diesel and kerosene

Texmo Pipes and Products bags order worth Rs 60.91 crore

Texmo Pipes and Products has bagged prestigious orders worth Rs 60.91 crore from Power Grid Corporation India, for Manufacture and supply of Telecom Ducts PLB HDPE Pipes. The project will cover supply of 11500KM in the state of Andhra Pradesh and is to be completed in 6 months.

Further, the Company has also stood First Lowest in the Bid invited by BSNL MP Telecom for supply of Telecom Ducts PLB HDPE Pipes. The expected orders for this project are Rs 30 crore and the project is to be completed in 6 months.

Texmo Pipes and Products id engaged into manufacturing of range of PVC and HDPE pipes viz. suction and delivery hose pipe, rigid PVC pipes, elastomeric sealing ringfit PVC pipe (gasket pipe), PVC casing and ribbed screen casing pipes, SWR pipe, plumbing pipe, conduit pipe, caping casing strips, column pipe, HDPE plain pipe, sprinkler pipe, PLB HDPE cable duct and drip irrigation system.

PTL Enterprises to divest 100% stake in PTL Projects

PTL Enterprises’ board of directors at its meeting held on February 12, 2014, has approved to divest 100% stake, i.e. one lakh equity shares of Rs 10 each aggregating to Rs 10 lakh in PTL Projects, its wholly owned subsidiary (WOS). Consequently PTL Projects and Athena Eduspark which is the wholly subsidiary of PTL Projects shall cease to be the subsidiaries of the Company.

PTL Enterprises operates in three segments; namely lease of plant, health care and other corporation. The company plant is located Kalamassery, Alwaye, Kerala 683104. It has given the plant on lease to Apollo Tyres, which manufactures truck and bus tyres sold under brand name ‘Apollo’.

Railway stocks fall after interim railway budget announcement

Railway stocks fell after Railway Minister Mallikarjun Kharge hesitated from making any major announcements in UPA’s II last Rail Budget speech in Parliament, where in he left passenger fares, freight rates unchanged.

Titagarh Wagons is currently trading at Rs. 103.05, down by -2.25 points or -2.14 % from its previous closing of Rs. 105.30 on the BSE. The scrip opened at Rs. 108.00 and has touched a high and low of Rs. 110.55 and Rs. 103.00 respectively. So far 331122 shares were traded on the counter.

Kalindee Rail Nirman (Engineers) is currently trading at Rs. 65.30, down by -1.05 points or -1.58 % from its previous closing of Rs. 66.35 on the BSE. The scrip opened at Rs. 67.40 and has touched a high and low of Rs. 69.30 and Rs. 65.15 respectively. So far 479751 shares were traded on the counter.

Texmaco Rail & Engineering is currently trading at Rs. 43.00, up by 0.00 points or 0.00 % from its previous closing of Rs. 43.00 on the BSE. The scrip opened at Rs. 43.85 and has touched a high and low of Rs. 44.00 and Rs. 42.75 respectively. So far 29724 shares were traded on the counter.

Stone India is currently trading at Rs. 17.55, up by 0.10 points or 0.57 % from its previous closing of Rs. 17.45 on the BSE. The scrip opened at Rs. 17.95 and has touched a high and low of Rs. 18.25 and Rs. 17.00 respectively. So far 30058 shares were traded on the counter.

Hind Rectifiers is currently trading at Rs. 33.05, down by -2.15 points or -6.11 % from its previous closing of Rs. 35.20 on the BSE. The scrip opened at Rs. 34.00 and has touched a high and low of Rs. 34.60 and Rs. 32.40 respectively. So far 30587 shares were traded on the counter.

United Spirits cuts select product prices by 5%-15% in various states: Report

United Spirits has reportedly reduced prices on select product by 5%-15% in various states. While, the company has cut prices of Mcdowells No.1 by 10.15% in three states, it slashed prices of Royal Challenge by 5-15%. These price cuts are expected to hurt the operating margins of the company.

United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.

JB Chemicals & Pharmaceuticals declines on reporting net loss of Rs 6.47 crore in Q3

JB Chemicals & Pharmaceuticals is currently trading at Rs. 125.90, down by 4.05 points or 3.12% from its previous closing of Rs. 129.95 on the BSE.

The scrip opened at Rs. 126.20 and has touched a high and low of Rs. 129.50 and Rs. 119.15 respectively. So far 1,50,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 139.25 on 08-Jan-2014 and a 52 week low of Rs. 70.30 on 26-Mar-2013.

Last one week high and low of the scrip stood at Rs. 132.35 and Rs. 119.15 respectively. The current market cap of the company is Rs. 1,067.00 crore.

The promoters holding in the company stood at 55.87% while Institutions and Non-Institutions held 4.87% and 39.27% respectively.

The company has reported a net loss of Rs 6.47 crore for the third quarter ended December 31, 2013 as compared to net profit of Rs 21.87 crore for the same quarter in the previous year. However, total income of the company has increased by 17.24% at Rs 239.52 crore for quarter under review as compared to Rs 204.29 crore for the quarter ended December 31, 2012.

JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).

JK tyre initiates process for raising Rs 1430 crore for Chennai plant expansion

JK tyre is planning to raise Rs 1430 crore for Chennai plant expansion. Further, the company is in process of tying funds for Chennai unit expansion. The investment will give a boost to the facility, from where 30 per cent of the products will be exported to around 90 markets.

JK Tyre & Industries is the flagship company under the umbrella of JK Organization. JK Tyre is the pioneer for Steel Radial technology in India. Over the years, the company has expanded and diversified its business portfolio. It has developed into a multi product, multi-location corporate entity.