ONGC surges as its arm inks deal with Rosneft

ONGC is currently trading at Rs. 416.15, up by 8.65 points or 2.12% from its previous closing of Rs. 407.50 on the BSE. The scrip opened at Rs. 412.00 and has touched a high and low of Rs. 418.45 and Rs. 410.50 respectively. So far 188719 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 420.00 on 20-May-2014 and a 52 week low of Rs. 234.40 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 420.00 and Rs. 389.85 respectively. The current market cap of the company is Rs. 357405.60 crore. The promoters holding in the company stood at 68.94% while Institutions and Non-Institutions held 17.52% and 13.54% respectively.   ONGC Videsh, the overseas arm of the state-owned explorer Oil and Natural Gas Corporation (ONGC), has signed a deal with Russia’s largest oil and gas producer Rosneft to jointly explore hydrocarbons in the offshore Arctic. The company has inked a Memorandum of Understanding at the St Petersburg International Economic Forum, in the presence of Russian President Vladimir Putin. The Memorandum pave the way for the companies’ cooperation in subsurface surveys, exploration and appraisal activities and hydrocarbons production in Russia’s offshore Arctic. ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.

SREI Infrastructure to raise Rs 2,500 crore through security issuance in FY15

SREI Infrastructure Finance is planning to raise Rs 2,500 crore via security issuance in FY15. The Kolkata-headquartered infrastructure finance company may also look at divesting some of its investments in the near future with the outlook becoming better. SREI Infrastructure Finance’s businesses include infrastructure equipment leasing and finance, infrastructure project finance, advisory and development, insurance broking, venture capital, capital market and Sahaj e -Village

NTPC to start coal mining at Chatti-Bariatu mines

NTPC is planning to foray into coal mining by starting production at its Chatti-Bariatu mines in Jharkhand. The production from the Chatti-Bariatu mines is expected to be around 1 million tonnes and will commence by the end of the fiscal. The company has ventured into coal mining in a bid to create fuel security. The utility plans to meet about 20% of its requirement of coal from its captive mines by 2017. The company has been allotted seven coal blocks -- Chatti-Bariatu, Chatti-Bariatu (South), Pakri Barwadih, Kerandari, Brahmani, Chichiro Patsimal and Dulanga. These blocks are in the coal-rich state of Jharkhand, with the exception of Dulanga, which is in Odisha. NTPC is the largest power generating company in the country. It has also diversified into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.

HDIL gains on plan of monetizing assets for paring debt

Housing Development & Infrastructure (HDIL) is currently trading at Rs. 101.85, up by 0.30 points or 0.30 % from its previous closing of Rs. 101.55 on the BSE. The scrip opened at Rs. 102.50 and has touched a high and low of Rs. 103.45 and Rs. 100.75 respectively. So far 996060 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.25 on 23-May-2014 and a 52 week low of Rs. 26.10 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 103.25 and Rs. 84.50 respectively. The current market cap of the company is Rs. 4286.41 crore. The promoters holding in the company stood at 36.17 % while Institutions and Non-Institutions held 38.54 % and 25.29 % respectively. In a bid to partly repay its debt by around Rs 600-700 crore in FY15, Housing Development and Infrastructure (HDIL) is planning to raise up to Rs 1,800 crore this fiscal by selling stakes in some of its assets. The company is planning to monetize its assets where it has around 40-45% stake in joint venture projects. The company is planning to put its 100-acre land parcel at Kukatpally in Hyderabad on block as this market has witnessed a revival in the last one month. Moreover, the company will also sell off some of its commercial projects in Mumbai this fiscal. HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).

Shrenuj & Company stock hits upper circuit on 1:1 bonus issue

The stock has hit a high of Rs137 and a low of Rs125.

Shares of Shrenuj & Company has surged 10% to Rs 131, after the company said its board approved the issue of bonus shares in the ratio of 1:1 i.e.  One bonus equity share for every one share held. The stock has hit a high of Rs137 and a low of Rs125. The record date for the issue of Bonus Shares to the shareholders will be fixed after the approval of the issue of Bonus Shares by the shareholders of the Company through postal ballot in consultation with stock exchanges. The Board has recommended final Dividend for the financial year ended March 31, 2014, @ 60 paise per equity share of Rs. 2.00 each on the Equity Shares pre-bonus. While recommending the issue of Bonus Equity shares in the ratio 1:1, the Board decided that if the Bonus Equity Shares are issued prior to payment of dividend, the dividend post issue of Bonus Equity Shares would be 30 paise per equity shares of Rs. 2.00 each instead of @60 paise per equity share of Rs. 2.00 each noting that the issue and allotment of bonus shares is likely to be prior to the declaration/approval of dividend by the shareholders at the ensuing Annual General Meeting.

HDIL to raise Rs 1,800 crore through sales of land parcels

In a bid to partly repay its debt by around Rs 600-700 crore in FY15, Housing Development and Infrastructure (HDIL) is planning to raise up to Rs 1,800 crore this fiscal by selling stakes in some of its assets. The company is planning to monetize its assets where it has around 40-45% stake in joint venture projects. The company is planning to put its 100-acre land parcel at Kukatpally in Hyderabad on block as this market has witnessed a revival in the last one month. Moreover, the company will also sell off some of its commercial projects in Mumbai this fiscal. HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).

TD Power Systems’ arm losses captive power plant contract worth Rs 225 crore

TD Power Systems’ wholly-owned subsidiary - DF Power Systems (DFPS) was awarded a contract for setting up of a 45MW captive power plant in north east India valued at Rs 225 crore in February 2013. The order was put on hold by the customer and came up for renegotiation with changes in project configuration and price. Further, as the renegotiation did not succeed, the order stands cancelled. TD Power Systems is one of the leading manufacturers of AC Generators with output capacity in the range of 1MW to 52MW for prime movers such as steam turbines, gas turbines, hydro turbines, wind turbines, diesel and gas engines. It focuses on manufacturing custom-designed generators for its customers who are based across the world.

ONGC’s arm inks deal with Rosneft

ONGC Videsh, the overseas arm of the state-owned explorer Oil and Natural Gas Corporation (ONGC), has signed a deal with Russia’s largest oil and gas producer Rosneft to jointly explore hydrocarbons in the offshore Arctic. The company has inked a Memorandum of Understanding at the St Petersburg International Economic Forum, in the presence of Russian President Vladimir Putin. The Memorandum pave the way for the companies’ cooperation in subsurface surveys, exploration and appraisal activities and hydrocarbons production in Russia’s offshore Arctic. ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.

Orient Green trades higher on the bourses

Orient Green Power Company is currently trading at Rs. 18.00, up by 0.72 points or 4.17% from its previous closing of Rs. 17.28 on the BSE. The scrip opened at Rs. 18.45 and has touched a high and low of Rs. 18.90 and Rs. 17.75 respectively. So far 314675 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.90 on 26-May-2014 and a 52 week low of Rs. 8.54 on 26-Mar-2014. Last one week high and low of the scrip stood at Rs. 18.90 and Rs. 11.39 respectively. The current market cap of the company is Rs. 981.64 crore. The promoters holding in the company stood at 76.35% while Institutions and Non-Institutions held 9.05% and 14.60% respectively. Orient Green Power Company’s promoter - Shriram Industrial Holdings has sold 7,661,400 equity shares of the company of face value Rs 10 each, representing 1.349% of the equity share capital of the company, through an offer for sale undertaken on May 20, 2014 exclusively through the separate window provided by the National Stock Exchange (NSE). Pursuant to the sale, the shareholding of the Promoter shall stand reduced to 163,608,446 equity shares representing 28.80% of the voting share capital from the earlier shareholding of 171,269,846 equity shares representing 30.15 % of the voting share capital of the company, and the aggregate shareholding of the Promoter and Promoter group companies in the company shall stand reduced to 426,058,596 equity shares representing 75% of the voting share capital from the earlier shareholding of 433,719,996 equity shares presenting 76.35% of the voting share capital of the company. Orient Green Company is leading Indian independent renewable energy-based power Generation Company focused on developing, owning and operating a diversified portfolio of renewable energy power plants. The company is the largest independent operator and developer of renewable energy power plants in India based on aggregate installed capacity.

Sensex crosses 25,000

Some buying activity is seen in capital goods, banking, auto and realty on BSE, while healthcare sector is showing some weakness

9:51AM: The BSE Sensex is trading up 326 points at 25,020, while S&P Nifty is trading up 87points at 7,454. BSE Mid-cap is up 1.02% at 8,757, while BSE Small-cap is up 1.18% at 9,235. Some buying activity is seen in capital goods, banking, auto and realty on BSE, while healthcare sector is showing some weakness. Maruti Suzuki, NTPC, L&T, M&M, Tata Motors and Tata Steel are among the gainers, whereas Hero MotoCorp, Dr Reddy's Lab, Cipla and HUL are losing sheen on BSE. National Democratic Alliance leader Narendra Modi will be sworn in as the Prime Minister of India along with his Cabinet today. Modi will be sworn in by President Pranab Mukherjee at a grand, open air ceremony, attended by about 3,000 guests, including foreign diplomats, in the forecourt of Rashtrapati Bhavan. The ceremony will start at 6pm and is likely to go on for an hour. List of Cabinet names have been finalised. Modi may opt for a lean and rational Cabinet. The new government will have several issues to tackle.