Dish TV India’s arm receives DTH License

Dish TV India’s Sri Lanka based subsidiary Dish TV Lanka has been granted the 'Satellite Television Broadcasting License' (DTH License) by the Government of Sri Lanka to establish, operate and maintain Satellite Television Network for the purpose of Digital Television Satellite Broadcasting.

Dish TV is India’s largest direct-to-home company and part of the biggest media conglomerate - Zee Group. Dish TV has on its platform 400+ channels and services including 21 audio channels with 13.5 million subscribers.

Bharat Electronics reports over two fold jump in Q2 net profit

Bharat Electronics has reported results for second quarter ended September 30, 2014.

The company has reported over two fold jump in its net profit at Rs 146.96 crore for the quarter ended September 30, 2014 as compared to Rs 59.44 crore for the same quarter in the previous year. Total income has increased by 21.70% at Rs 1404.66 crore for quarter under review as compared to Rs 1154.14 crore for the quarter ended September 30, 2013.

Bharat Electronics is a multi-product, multi-technology, multi-unit conglomerate with over 350 products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.

Strides Arcolab surges on reporting stellar Q2 numbers

Strides Arcolab is currently trading at Rs. 678.00, up by 11.35 points or 1.70% from its previous closing of Rs. 666.65 on the BSE.

The scrip opened at Rs. 672.75 and has touched a high and low of Rs. 691.90 and Rs. 668.80 respectively. So far 75567 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 05-Dec-2013 and a 52 week low of Rs. 343.80 on 26-Feb-2014.

Last one week high and low of the scrip stood at Rs. 691.90 and Rs. 662.00 respectively. The current market cap of the company is Rs. 4050.46 crore.

The promoters holding in the company stood at 27.67% while Institutions and Non-Institutions held 46.79% and 25.54% respectively.

Strides Arcolab has reported a net profit after tax of Rs 338.47 crore for the quarter under review as compared to Rs 2.21 crore for the same quarter in the previous year. Total income of the company has increased by 8.24% at Rs 244.04 crore for Q2FY15 as compared Rs 225.47 crore for the corresponding quarter previous year.

Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.

Finance Minister promises more reforms, privatisation of loss making PSUs

Assuring a transparent and rule-based policy environment, Finance Minister Arun Jaitley promised reforms in labour, land acquisition and insurance laws to make regulations in India more business-friendly. Terming reforms as a long journey, Finance Minister added that the government is of the view of consistently pursuing the reforms agenda to boost the economic growth rather than taking one or two big bang steps.

By adding further, Arun Jaitley said that the government has introduced some labour reforms in Parliament which will be discussed in the upcoming winter session. The government is looking at changing some illogical provisions of land acquisition laws that have made it virtually impossible for companies to acquire land for industrial projects. On insurance sector, Jaitley expressed hope that the long-pending Insurance Amendment Bill, that seeks to raise FDI in the sector from existing 26 percent to 49 percent, will get Parliament nod in the upcoming Winter Session.

Finance Minister also stressed that the government may privatize some loss making public sector units (PSUs). India has 79 loss making PSUs, of which 49 are sick enterprises. On ambitious divestment programme, Jaitley said the government would push ahead with divestment of its stake in state-owned firms but will retain majority stake in such companies.

CRISIL assigns fundamental grade of 4/5 on SKS Microfinance

Credit rating agency, CRISIL Research has assigned a CRISIL IER fundamental grade of 4/5 on SKS Microfinance. The grade indicates that the company’s fundamentals are ‘good’ relative to other listed equity securities in India. The rating agency has also assigned valuation grade of 3/5 to the company.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.

Voltas gains on bagging order for chocolate coolers

Voltas is currently trading at Rs. 251.20, up by 1.05 points or 0.42 % from its previous closing of Rs. 250.15 on the BSE.

The scrip opened at Rs. 251.40 and has touched a high and low of Rs. 252.35 and Rs. 244.95 respectively. So far 49560 shares were traded on the counter.

The BSE group 'A' stock of face value Re. 1 has touched a 52 week high of Rs. 270.70 on 10-Sep-2014 and a 52 week low of Rs. 84.10 on 13-Nov-2013.

Last one week high and low of the scrip stood at Rs. 256.85 and Rs. 242.55 respectively. The current market cap of the company is Rs. 8189.40 crore.

The promoters holding in the company stood at 30.30%, while Institutions and Non-Institutions held 47.84% and 21.87% respectively.

Voltas has received an order for nearly 46,000 chocolate coolers from Cadbury. This success cements Voltas’ position as the market leader in Chocolate Coolers and Commercial Refrigeration products. The bulk of the orders were for the Counter-Top model of 33 litres capacity, popularly known as CT-33; and the remaining were for the 145 litres capacity Display Cooler (DC-145).

The company has also focused its efforts on customized product development and value engineering for this specialized unitary cooling product. The relationship between Voltas and Cadbury has resulted in more than 100,000 such coolers being put on the market by Cadbury as the preferred mode for selling their chocolates.

Voltas is one of the world's premier engineering solutions providers and project specialists. The company offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment, materials handling equipment, water management & treatment, cold chain solutions, building management systems, and indoor air quality. 

Rupee trades weak on increased dollar demand from importers

Indian rupee, after making a weak start, continue to depreciate against dollar on Thursday tailing negative local equities, weaker Asian counterparts and increased demand for the US currency from importers, which weighed on the sentiment of Indian currency. Besides, the dollar's strength against other currencies overseas put pressure on the rupee. On the global front, dollar held near a four-year high against a basket of major currencies on Friday, with its near-term fortunes hinging on whether U.S. jobs data will add to or temper optimism about the U.S. economy's outlook.

The partially convertible currency is currently trading at 61.52, weaker by 10 paise from its previous close of 61.42 on Wednesday. The currency has touched a high and low of 61.57 and 61.49 respectively.  The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 61.38 and for Euro stood at 76.98 on November 05, 2014. While, the RBI’s reference rate for the Yen stood at 57.36, the reference rate for the Great Britain Pound (GBP) stood at 98.0043. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

IRB Infrastructure to raise funds up to Rs 1,500 crore

IRB Infrastructure Developers has received an approval for fund raising options and enabled special resolution for the purpose of further issue of securities for an amount not exceeding Rs 1,500 crore. The board of directors at their meeting held on November 05, 2014 has approved for the same.

The above is however subject to the approval of the shareholders of the company and all the requisite approvals as may be required from regulatory authorities and in accordance with the provisions of the applicable laws.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

Copper futures edge higher on ECB President’s dovish remarks

Copper futures ended up on Thursday as European Central Bank President Mario Draghi's dovish remarks supported the price of the red metal. However, stronger US dollar against a basket of major currencies following the reports of better-than-expected US jobless claims numbers, capped some gains in copper prices to some extent.

Copper futures for December delivery added 0.3 percent to settle at $3.0175 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange ended up 0.3 percent at $6,660 a metric ton.

DSP BlackRock MF introduces 3 Years Close Ended Equity Fund

DSP BlackRock Mutual Fund has launched the New Fund Offer (NFO) of DSP BlackRock 3 Years Close Ended Equity Fund, a close ended income scheme. The NFO opens for subscription on Nov 07, 2014 and closes on Nov 21, 2014.  No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 1,000 and in multiples of Re. 1 thereafter

The scheme’s performance will be benchmarked against CNX 500 Index and its fund managers are Vinit Sambre and Laukik Bagwe.

The investment objective of the scheme is to  generate capital appreciation by investing predominantly in portfolio of equity and equity-related securities.