Titan stock slips to fresh 52 week low.

 Titan industries Ltd stock sank to 52 week low today before making a mild recovery after the company   indicated yesterday that the RBI was firm in its stand that importers of gold would have to fork 100 % cash margin for their gold import.

  Titan had stated in its discussion with RBI officials, it was clarified that any import of gold for domestic use whether through banks or nominated agencies or directly could be done only with 100 percent cash margin.
 The stock had fallen to fresh 52 week low of Rs.201.20, At one time, the stock had shed more than 10% for the second day running before pulling back a bit. The trading volume within 15 minutes of trading was about 40 lakh shares in the counter.The scrip closed at Rs.205.30 in BSE.

April stands at a worrying 2%

The Index of Industrial production  (IIP) grew less than expected at 2% in April from a year earlier.
Manufacturing which constitutes about 76% of IIP, grew 2.8% from a year earlier.
 Capital goods production, a barometer for investments in the economy grew an annual 1% percent, whereas intermediate goods grew 2.4%, and consumer goods rose by 2.8%.
  In March, the IIP recovered to 2.5% growth after a sluggish growth of 0.06% in february. The IIP stood at a decade low of 1% in 2012-13

Jewellry stocks under hammer...

Shares of frontline jewellery companies are under hammer and trading lower by up to 12% on concerns that a frequent rises in gold import duty and the sustained depreciation of the Rupee against the dollar may dampen the growth of the sector.

Tara jewels,TBZ,Gitanjali are down in the range of  2-17% on the BSE. The Government increased duty on gold from 6% to 8%, this was the second time in six months that the duty was raised. In january,the government has raised the duty to 6% from 4%.
Tara jewels has dipped by 3.35%,TBZ is down by 4%,Gitanjali has tanked 3.79%.

Elder Pharma surges on Promoter stake sale.

Elder Pharmaceuticals locked in upper circuit of 4.98% at Rs.358.85 on reports that the promoter is looking for Buyer for the company.
      The Mumbai based pharmaceutical company has mandated multinational consultancy firm Ernst & young and Japanese investment banking firm Nomura Securities to manage a formal process to find a buyer through a negotiation transaction.
 The stock opened at Rs.350 and hit a low of Rs. 348 on NSE. 

L&T Construction secures Rs.6700 Cr.

The Railway strategic Business unit of  L&T construction's Transportation Infrastructure Business has won a major order worth Rs.6699.50 Cr from the Dedicated Freight Corridor Corporation of India Ltd.(DFCCIL). This prestigious order has been secured by a consortium of Larsen and Toubro Ltd and Sojit's corp., Japan.
  The track has been designed for 25 MT axle load to run double stack containers dedicated for freight.Around 1.5 lacs MT of rails will be imported from Japan for this project.
   The project has been planned to be executed using completely mechanized means of track linking using the latest technology in railway construction. The project is expected to be completed in four years.

 Larsen and Toubro is a USD 14 billion technology, engineering,construction, manufacturing and financial services conglomerate, with global operations. Its is ranked 4th in the global list of Green Companies in  the Industrial sector by the reputed international magazine Newsweek, and ranked the world's 9th Most Innovative Company by Forbes International.

PVR spurts on the plans of adding 90 screens this year.

PVR, multiplex chain operator is eyeing to add about 90 screens this year entailing an investment of Rs.250    crore, which will take its total screen count to over 450. The company had announced  acquistion of cinemax  earlier this year, plans to rebrand some of cinemax theatres in a phased manner.

     PVR is looking for locations in Mumbai,Bangalore for expansion of its luxury offering 'DC'. Though currently it is very small at  Rs. 25 crore in  business. PVR believes it has potential to become a 200 crore brand in three years.
     DC (Director's cut is a high-end format with theaters, Restaurant,books,merchandise.The cinemax screen is  independent and rare films along with mainstream movies.
The scrip opened at Rs.328 and is up by 1.32%with its previous close Rs.324.90.

NMDC Signs Memorandum of Understanding for Mineral Projects in Zimbabwe

             NMDC Signed the Memorandum of Understanding with MOSI OA TUNYA DEVELOPMENT COMPANY of Zimbabwe under the administrative control of Ministry of Tourism and Hospitality Industry, Government of Zimbabwe.

             NMDC plans to develop mineral assets overseas to secure raw materials for the steel industry. The designated organization of the Ministry of Tourism and Hospitality Industry, Government of Zimbabwe has invited NMDC as a strategic partner to invest in the exploration and development of the iron, ore, coal, Gold and chrome tenements. This MoU will provide exclusivity to NMDC for participation in mineral projects at Zimbabwe.

NMDC trading at Rs.116.35 up by (0.51%) with its previous closing  Rs.115.80

 

Indiabulls power Gains on commencing commercial operation.

Indiabulls Power's 1st unit of its 1350 MW Phase 1 thermal power plant at Amravati, Maharashtra had commenced its commercial operation and has started  supply of power under long term power purchase agreement to Maharashtra State Electricity Distribution company.
        The promoters holding in the company stood at 60.79%, while institutions and non-institutions held at 20.34% and 18.36% respectively.

The scrip is trading at Rs.8.05, up by 4.51% from its previous closing of Rs.7.75, the scrip gave a high of Rs.8.15 and a low of Rs.8.00.

Rupee hits all time low...Breaches 57.37/$

 Rupee hits its all time low of 57.37/$, after opening at 57.20/$ on monday,against friday's closing of  57.25/$.

Expecting RBI intervention to cool off the market by supplying dollars on higher rupee levels.
Analysts feel non farm-payroll data could further support dollar to remain strong.

Tata Motors Join Hands with SIAM to drive against counterfeiting

 Tata motors in association with SIAM  rolls out an Anti-counterfeiting campaign across its dealership in India. Tatamotor's spare parts business has been instrumental in elevating the company's customer satisfaction  Index over the years and Tata motor's passenger car spare parts have been bench-marked as 'TOP'(Tata motors original parts) under its comprehensive service package since 2010, with a view to maximize customer satisfaction.
  Tata motors will also be enhancing its distribution warehouse network with development of a world class warehousing facility at Santosh Nagar in Chakan (Pune).
      The leading auto maker has devised a plan for  promoting the usage of original spare parts in the market via its branded original parts called as 'TOP'. This will ensure that the benefits of advanced technology are acquired by customers in totality in the form of safety,reliability,durability,economy and environmental protection.