Force Motors’ LCV production stood at 964 units in May 2014

Force Motors, a Pune-based commercial vehicle maker, has reported the production, sales and export of the products manufactured by the company during the month of May 2014. The company’s production of Small Commercial Vehicles (SCV), Light Commercial Vehicles (LCV), Utility Vehicles & Sports Utility Vehicles (UV & SUV) and Tractors stood at 66 units, 964 units, 769 units and 330 units respectively.

The company’s domestic sales for SCV, LCV, UV & SUV and Tractor stood at 40 units, 1056 units, 717 units and 247 units respectively, while the company has exported 85 units of SCV in month of May 2014.

Force Motors is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

IDFC gives in principle nod for local fund raising plans

IDFC, country’s leading integrated infrastructure finance player, consequent upon receipt of the in-principle approval for the banking license from RBI, has given in principle nod for local fund raising plans, for bringing down foreign share holding in company below 50%. The company’s board of directors at their meeting held on June 3, 2014 have approved the same. The company has reported 50.93% fall in its net profit after tax, share of minority interest and share of profit from associates at Rs 257.94 crore for the quarter ended March 31, 2014 as compared to Rs 525.70 crore for the same quarter in the previous year. However, total income of the company has increased marginally to Rs 2219.57 crore for quarter under review as compared to Rs 2218.41 crore for the quarter ended March 31, 2013.

Sundaram Finance’s arm to hire over 100 accounting professionals in Chennai

Sundaram Business Services (SBS), the BPO arm of Sundaram Finance, is planning to hire over 100 accounting professionals at its Chennai facility within 6-9 months. The hiring of niche accounting professionals is in line with the strong growth that the company aims to achieve in the accounting space in Australia. At present, the company has over 400 accounting professionals working on its overseas business. Sundaram Finance is one of the oldest and largest providers of finance for the acquisition of commercial vehicles of all makes. The commercial vehicle finance provided by it helps the small operators to acquire vehicles with minimum hassle and documentation.

NIIT to conduct ‘The CTET Advantage Program’

NIIT, leading Global Talent Development Corporation is set to conduct ‘The CTET Advantage Program’ to support Pre-Service/In-Service teachers to prepare for the forthcoming CTET and to help them ace the exam. The classroom based program will be conducted at select NIIT centres and Self-learning/Online program and test series will be offered across the country. The CTET program has been launched under aegis of NIIT Litmus, an initiative by NIIT for helping young aspirants prepare for competitive exams leading to enhanced employability. Qualifying CTET (Central Teacher Eligibility Test) is a compulsory and essential requirement for securing a teaching job in Government Schools. Leading private schools also ask for CTET qualification for recruitment and for determining pay scale. CTET is conducted by CBSE, twice a year in accordance with the guidelines framed by NCTE as per provisions of the RTE act. The CTET coaching program (The CTET Advantage) offered by NIIT has been designed to provide complete revision and clarification of concepts related to pedagogy and child development. It guides the students on taking the examination by providing them with innumerable practice tests for clearing doubts and by conducting mock tests in real test environment. The program also includes workshop in CCE, student management skills and interview skills. NIIT is a market leading, global learning outsourcing company which provides a comprehensive suite of managed training services including Curriculum Design and Content Development, Learning Administration, Learning Delivery Management, Learning Technology (including LMS), Strategic Sourcing and Advisory Services.

Prime Focus surges as its arm inks pact with BARC

Prime Focus is currently trading at Rs 43.50, up by 3.25 points or 8.07% from its previous closing of Rs 40.25 on the BSE. The scrip opened at Rs. 41.65 and has touched a high and low of Rs 44.00 and Rs 41.20 respectively. So far 1167252 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 41.40 and Rs 33.80 respectively. The current market cap of the company is Rs 804.71 crore. The promoters holding in the company stood at 41.58% while Institutions and Non-Institutions held 5.74% and 52.68% respectively. Prime Focus subsidiary - Prime Focus Technologies (PFT), the global leader in media and entertainment industry services, has been contracted by the Indian Broadcast Audience Research Council (BARC) to offer Play-out Monitoring Service to power one of the world's largest audience measurement programs. PFT’s globally proven CLEARTMMedia ERP platform bolstered with next generation content identification technology and Digital Services will help automatically generate play-out monitoring reports on a daily basis. Audience measurement data is the de facto currency for media industry, being widely used by all stakeholders for planning, pricing, selling and buying advertising inventory on the medium. PFT will offer a robust play-out monitoring service which will check the actual telecast of each channel, capture the content at every point in time, and help link it back to the rating piece of the audience measurement system. Prime Focus is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market. The group offers a genuine end-to-end solution from pre-production to final delivery including visual effects, 2D to 3D conversion, video and audio post production, equipment hire, multi-platform content operations solutions and digital distribution.

Time Technoplast gains as Grandeur Peak International buys 75 lakh shares

Time Technoplast is currently trading at Rs 46.80, up by 0.60 points or 1.30% from its previous closing of Rs. 46.20 on the BSE. The scrip opened at Rs 46.90 and has touched a high and low of Rs 47.70 and Rs 45.90 respectively. So far 65501 shares were traded on the counter. The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 48.00 on 03-Jun-2014 and a 52 week low of Rs 27.50 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 48.00 and Rs 40.00 respectively. The current market cap of the company is Rs 979.15 crore. The promoters holding in the company stood at 61.92% while Institutions and Non-Institutions held 19.46% and 18.62% respectively. Grandeur Peak International Opportunities Fund has bought 75,00,000 shares of  Time Technoplast  at a price of Rs 44 per share on the NSE on June 2,2014. Meanwhile, Core International FZC sold 73, 00,000 shares of  Time Technoplast at price of Rs 44.02. Time Technoplast is the leading plastic product company based in India and is engaged in manufacture of technology based innovative products in the space of industrial packaging, infrastructure, lifestyle , automobile, healthcare , material handling and composites. It has expanded its operations outside of India in UAE, Bahrain, Thailand, China, Taiwan and Indonesia. The company is also expanding its operations in South Korea, Vietnam, Turkey and Egypt.

Coal India plans to constitute panel for overseas mines acquisition

In order to meet the rising domestic coal requirements, Coal India has planned to form a panel of consultants which would help it in acquiring, developing and operating coal mines overseas. Coal India is eyeing coal assets abroad to meet the domestic demand. Earlier, Coal Ministry had stated that acquisition of coal mines overseas should be done in an aggressive manner to meet India’s rising energy requirements. Taking forward its plans to acquire overseas mines, CIL had recently invited bids for the third phase of drilling in the African nation. It had earlier invited bids from bankers and interested parties for acquiring assets abroad. India, despite being world’s third-largest producer of coal and fifth largest in terms of reserves, has failed to keep pace with increasing domestic demand. Indian domestic coal demand is around 35 percent higher than domestic supply, resulting into a high deficit of which a huge part is being met by costly imports from Indonesia, South Africa and Australia. The country had imported a record 171 MT coal last financial year to meet domestic requirements. Meanwhile, to boost the domestic coal production, the government has planned to invite bids from private players to start coal mining in a public-private partnership (PPP) mode in the country, which would also end the monopoly of public sector unit Coal India.

Gayatri Projects touches the roof on the BSE

Gayatri Projects is currently trading at its upper circuit limit of Rs. 145.10, up by 6.90 points or 4.99 % from its previous closing of Rs. 138.20 on the BSE. The scrip opened at Rs. 144.95 and has touched a high and low of Rs. 145.10 and Rs. 140.15 respectively. So far 18596 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.10 on 04-Jun-2014 and a 52 week low of Rs. 47.50 on 21-Aug-2013. Last one week high and low of the scrip stood at Rs. 145.10 and Rs. 111.00 respectively. The current market cap of the company is Rs. 438.59 crore. The promoters holding in the company stood at 50.32% while Institutions and Non-Institutions held 33.99% and 15.69% respectively. Gayatri Projects’ road SPV HKR Roadways has received a Provisional Completion Certificate from the Independent Consultant, as stipulated under the Concession Agreement, on May 30, 2014. Accordingly, the Road SPV Company (HKR Roadways) has commenced collecting Toll from the public from June 01, 2014 onwards. Gayatri Projects, an ISO 9001-2000 company, is one of the fastest growing construction companies in India executing major civil works including construction of concrete/masonry dams, earthen dams, national highways, bridges, canals, aqueducts, airports, ports, etc.

Aion Direct buys additional 5.67% stake in Mercator through FCCB Conversion

Aion Direct has bought additional 5.67% stake in Mercator through FCCB Conversion. With this, Aion Direct holds 9.08% stake in the company. Back in May, Mercator reported that its transaction for issuing Foreign Currency Convertible Bonds (FCCB), unsecured, aggregating $16 million basis had been fully subscribed and the bonds stand to be alloted. Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.

Tesco completes stake buy in Trent’s arm

UK-based Tesco has completed purchase of part of the equity shares held by Trent in its wholly-owned subsidiary Trent Hypermarkets (THL) and subscribed for additional THL’s equity shares. Consequently, Trent and Tesco will each hold a 50% stake in THL.

Trent is part of the Tata Group and is engaged in business of retailing. Trent acquired 76% stake in Landmark, one of the largest books and music retail chains in the India.