Geometric enters into engineering contract with Aerolia

Geometric, a leader in developing advanced manufacturing software has entered into a multi-year engineering services engagement with Aerolia, one of the largest tier-1 aerospace suppliers. Under the agreement, Geometric has set up a dedicated center for mechanical systems installations in Bengaluru, India. Aerolia, a part of the Airbus group, selected Geometric for its expertise in setting up offshore engineering centers and to leverage Geometric’s engineering capabilities along with its IP and software development strengths for intelligent engineering. Geometric’s deep understanding of the product development cycle and technology will help Aerolia’s global operations to enhance their competitive advantage. Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.

Tata Power strengthens on plan to increase generation capacity to 646.7 MW from green energy sources

Tata Power Company is currently trading at Rs 82.80, up by 1.25 points or 1.53% from its previous closing of Rs. 81.55 on the BSE. The scrip opened at Rs 82.00 and has touched a high and low of Rs 83.05 and Rs 81.55 respectively. So far 162610 shares were traded on the counter. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 93.61 on 17-Apr-2013 and a 52 week low of Rs 65.86 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 87.85 and Rs. 81.10 respectively. The current market cap of the company is Rs. 22386.38 crore. The promoters holding in the company stood at 32.47% while Institutions and Non-Institutions held 48.24% and 19.10% respectively. Tata Power, one of India’s largest integrated power companies, is planning to increase generation capacity to 646.7 MW from green energy sources by executing projects which are in advance stages. The company has a gross installed capacity of 912 MW from clean energy sources of which 447 MW comes from hydropower, and 465 MW comes from renewable sources of energy, namely, wind and solar power. The company’s clean energy projects comprise of hydro power projects in Maharashtra with gross installed capacity of 447MW; wind farms in Maharashtra, Gujarat, Karnataka, Tamil Nadu and Rajasthan, with gross installed capacity of 437MW and solar projects in Maharashtra, Gujarat and Delhi, with gross installed capacity of 28MW. Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.

RCom rings loud on the bourses

Reliance Communications (RCom), is currently trading at Rs. 131.00, up by 1.30 points or 1.00% from its previous closing of Rs. 129.70 on the BSE. The scrip opened at Rs. 131.00 and has touched a high and low of Rs. 132.20 and Rs. 130.40 respectively. So far 466965 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 164.45 on 20-Sep-2013 and a 52 week low of Rs. 81.15 on 17-Apr-2013. Last one week high and low of the scrip stood at Rs. 138.50 and Rs. 124.45 respectively. The current market cap of the company is Rs. 27090.35 crore. The promoters holding in the company stood at 67.80% while Institutions and Non-Institutions held 20.73% and 11.20% respectively. RCom, India’s fully integrated telecommunications service provider, has increased tariffs by up to 20 per cent for all its pre-paid customers. Headline Tariffs will increase from 1.5 paise to 1.6 paise per second, while tariffs on discounted and promotional plans will increase by up to 20 per cent. The revised tariffs, which will be applicable for pre-paid customers across the country, come into effect from April 25, 2014. RCom is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.

Idea Cellular enters into tie up with Acotel Interactive

Idea Cellular, one of the biggest cellular carrier of the country has entered into a tie up with Acotel Interactive India to launch skill-based mobile gaming service to mobile users in India. The first product that is being launched in India is called 'SkillDerby', which will allow over 130 million Idea users to play and enjoy high quality and challenging games on their smartphones, without having to download them. These are browser-based games that can be played on any device with a modern browser and not restricted to iOS and Android. Earlier in March 2014, the company had entered into a similar deal with Gameloft to offer Java and Android games through its mobile website as part of Gameloft Club subscription. Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.

Bond yields edge higher ahead of Rs 20,000 crore bonds auction

Bond yields edged higher as traders cut positions bracing for the Rs 20,000 crore bond auction later in the session. Most bonds on offer are among the least traded, but select dealers are of the view that possibility of devolvement have reduced after a consistent selling spree over the last two sessions. On the global front, U.S. Treasuries prices fell on Wednesday as rising stocks reduced demand for lower risk government bonds, and as Federal Reserve Chair Janet Yellen expressed optimism on the economy. Meanwhile, brent oil steadied above $109 a barrel on Thursday, trading not far from a six-week high, as escalating tensions in Ukraine kept the geopolitical risk premium on crude prices intact, while an upbeat view on U.S. and Chinese demand was also supportive. Back home, the yields on new 10 year Government Stock 2023 were trading 3 basis points higher at 8.99% from its previous close of 8.96% on Wednesday. The benchmark five-year interest rate swaps were trading unchanged at its previous close of 8.51% on Wednesday. The Government of India has announced the sale (re-issue) of four dated securities for Rs 20,000 crore on April 17, 2014, including (i) 8.35% Government Stock 2022 for a notified amount of Rs 5000 crore, (ii) 8.24% Government Stock 2027 for a notified amount of Rs 9,000 crore, (iii) 9.20% Government Stock 2030 for a notified amount of Rs 3000 crore and lastly, (iv) 9.23% Government Stock 2043 for a notified amount of Rs 3000 crore respectively.

NCC strengthens on the buzz of selling select highway assets

NCC is currently trading at Rs. 46.75, up by 1.45 points or 3.20% from its previous closing of Rs. 45.30 on the BSE. The scrip opened at Rs. 46.10 and has touched a high and low of Rs. 48.80 and Rs. 46.10 respectively. So far 613287 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 52.00 on 15-Apr-2014 and a 52 week low of Rs. 16.55 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 52.00 and Rs. 41.85 respectively. The current market cap of the company is Rs. 1200.81 crore. The promoters holding in the company stood at 20.41% while Institutions and Non-Institutions held 44.58% and 35.00% respectively. In a bid to reduce its debt burden, infrastructure major NCC is reportedly planning to sell select highway assets. IDFC and two funds Squared Capital and Acropolis Capital are in the race for the two highway assets namely, the Meerut-Muzaffarnagar highway and the Bengaluru-elevated expressway. The company is expecting to garner a combined enterprise value of around Rs 2000 crore for the said assets. NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.

Call rates edge higher on last trading session of reporting fortnight

Interbank call rates were trading higher at 7.95/8.00% from its previous close of 7.05/7.10% on Wednesday as demand from banks picked up pace on last trading session of reporting fortnight, with money market remaining shut for trade on April 18 in observance of local holiday on account of Good Friday. The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 3728 crore through repo auction on April 17, 2014. The banks via LAF borrowed Rs 12207 crore through repo auction and parked Rs 8827 crore via reverse repo window on April 16, 2014. The overnight borrowing rates touched a high and low of 8.15% and 7.70% respectively. According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.08% on Thursday and total volume stood at Rs 4235298 crore, so far. As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.52% on Thursday and total volume stood at Rs 13358.45 crore, so far. The indicative call rates which closed 7.05/7.10% on Wednesday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far

NCC to sell select highway assets: Report

In a bid to reduce its debt burden, infrastructure major NCC is reportedly planning to sell select highway assets. IDFC and two funds Squared Capital and Acropolis Capital are in the race for the two highway assets namely, the Meerut-Muzaffarnagar highway and the Bengaluru-elevated expressway. The company is expecting to garner a combined enterprise value of around Rs 2000 crore for the said assets. NCC is engaged in development of real estate. The company’s projects stand on credentials of its work in various sectors such as Housing, Transportation, Power, water, Metals and Oil and gas.

JPMorgan MF introduces Fixed Maturity Plan - Sr 37

JPMorgan Mutual Fund has launched the New Fund Offer (NFO) of JPMorgan Fixed Maturity Plan-Sr 37, a close ended income scheme. The NFO opens for subscription on Apr 17, 2014 and closes on Apr 25, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000.

The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund managers are Namdev Chougule and Ravi Ratanpal

The investment objective of the scheme is to generate income through investments in Debt Securities /Money Market Instruments and Government of India Securities (“GoI Securities”) maturing on or before the maturity date of the Scheme

CARE reaffirms ratings of Mahindra & Mahindra’s bank facilities

Credit rating agency, CARE has reaffirmed ‘AA+’ rating to Mahindra & Mahindra’s long term bank facilities worth Rs 178.28 crore and ‘A1+’ rating to company’s Short term Bank Facilities worth Rs 71.72 crore. The company has received the said ratings on the back of its experience promoters and management and dominant position in the Utility Vehicle (UV) and Farm equipment (FE) segments, its established brand image, diversified product portfolio, strong dealer and after-sales service network and its global presence. Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.