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Tuesday 18 October 2011

Oberoi Realty results

Oberoi Realty reported a 17 per cent increase in its consolidated net profit to Rs 111.44 crore for the quarter ended September 30, 2011. The aggregation had acquaint a net accumulation of Rs 95.51 crore for the year-ago period. The Mumbai-based developer registered 45 per cent advance in circumscribed acquirement to Rs 256.88 crore in the additional division this fiscal, as adjoin Rs 177.11 crore in the agnate aeon of the 2010-11 fiscal, the aggregation said in a statement. For the bisected year concluded September 30, the company's circumscribed net accumulation added by 24 per cent to Rs 217.21 crore from Rs 175.30 crore in the year-ago period. Its circumscribed acquirement grew by 38 per cent to Rs 471.95 crore in the aboriginal bisected of this budgetary from Rs 342.90 crore in the agnate aeon of the 2010-11 fiscal.

HDFC Earnings for Q2F12 Quarter

HDFC Earnings rose by 20% to Rs 970 crore. Assets from operations rose 28% to Rs 7,877.72 crore, from Rs 5703.68 crore a year ago. HDFC to accept a accommodation advance of 19-20% as banks are accepted to get aggressive. Profits from auction of investment rose 75% to Rs 103.14 crore. Net absorption assets (NII) rose 17% to Rs 2,672.28 crore at the end of September 2011 adjoin Rs 2,266.54 crore in the agnate aeon endure year. After affairs loans account Rs 4,989 crore to HDFC Bank, its absolute loans grew 19% from a year beforehand to Rs 1,26,992 crore.

MindTree more than doubled its profits

 MindTree more than doubled its profits for the division concluded September 30, advertence its acknowledgment to advantageous advance afterwards one of its founders abdicate added than six months back. For the aboriginal time in its history, the aggregation clocked revenues of $ 100 actor in a individual quarter.
Mindtree exhausted analyst expectations and appear a 58 % consecutive access in profits at Rs 54.5 cr. Revenues grew 10.5 % to 456.7 cr in rupee terms. In the antecedent quarter, Mindtree's revenues had developed by 5.6% sequentially to Rs 413.1 crore.
The company, which added 15 new audience and 1,003 advisers in the quarter, is giving out an acting allotment of 25%.

Reliance Industries can suspend oil and gas drilling

 Reliance Industries can suspend oil and gas drilling pending an interior valuation of its exploration and production strategy, the Mint newspaper reported on Monday citing sources briefed by the corporate. India's Most worthy company by market capitalization, has seen its growth outlook and market price hit laborious this year by falling gas output from its huge gas fields off the east coast.Reliance can halt drilling for an unspecified time till the review is completed and submitted to the govt. Reliance posted its highest ever quarterly web profit in its Q2 results on Saturday, however analysts targeted on slowing gas output and said refining margins were still below expectations.Last month, India's upstream regulator said Reliance was manufacturing forty four mscmd (million customary cubic metres per day) from its main D6 block, under the sixty mscmd it had been manufacturing a year earlier and much off the planned peak capability of eighty mscmd.The CAG last month criticised Reliance and therefore the government over development of the gas field within the Krishna Godavari (KG) basin and mixed up revamping profit-sharing arrangements from oil and gas blocks.Earlier this year, Reliance sold a 30 % stake in twenty three oil and gas blocks, some within the KG basin, to BP in a very 7.2 billion deal.The British company, with deepwater exploration experience, has said it's assured of raising gas output from the sector from 2014.

Employees unions of Coal India today withdrew their proposed three-day Strike

Employees unions of Coal India today withdrew their proposed three-day strike after the management agreed to give higher bonus, along with Rs 1,000 as Diwali gift. CIL has reached an agreement with workers Unions to pay a higher -- Rs 20,000 bonus to each worker instead of earlier announced Rs 17,000, besides Rs 1,000 as Diwali gift.The unions were demanding for a minimum bonus of Rs 23,500 per employee.
Coal India Chairman N C Jha said that higher bonus would result in Rs 144 crore additional burden on the company.The workers had gone on one-day strike on October 10, which resulted in production loss of around one million tonnes for CIL, causing it a revenue loss of about Rs 140 crore.
CIL has missed its half yearly production target by around 20 million tonnes at a time when shortage of coal is causing problems in power generation in many parts of the country.The threat of strike had come amid grim power situation in the country, as many plants of India's largest power generator NTPC are running below capacity due to the paucity of coal -- the key raw material for generating electricity.
Various states, including Delhi, Maharashtra, Karnataka and West Bengal, have seen power cuts for long hours in the past few days.At present, over 40 thermal power stations have coal stocks that is barely sufficient to meet the demand for about a week. As many as 29 projects have less than four days of coal reserves.

HCL Tech Results

HCL Tech Results:-
HCL Tech has reported a fall of 2.5% QoQ in consolidated net profit of Rs 497 crore for the quarter ended September 2011. The company had reported a net profit of Rs 510 crore in the previous quarter.
EBITDA margin too declined at 17.1% in the first quarter FY12 as against 18.5% (QoQ).
Revenues jumped 8.16% to Rs 4,651 crore from Rs 4,300 crore quarter-on-quarter.

Tata Consultancy Services Results

Tata Consultancy Services Results:-
Co. reported net profit at Rs 2,439 crore a lower-than-expected 15% year-on-year rise in second quarter due to continued uncertainty in global economy.Revenue for July-September quarter rose 25% from a year ago to Rs 11,634 crore.The debt crisis in Europe and the unemployment and economic uncertainties in the US are the Major worries for IT Co.s slowdown.TCS’ operating margin in the second quarter was up 89 basis points at 27%.TCS’ rival Infosys had last week reported a consolidated net profit of Rs 1,906 crore, up 10% year-on-year, slightly ahead of street expectations. Infosys revenue was up 17% at Rs 8,099 crore.TCS net added 12,580 employees in July-September and had 214,770 employees on September 30.

Friday 14 October 2011

India's Tata Nano will go on sale in Bangladesh

India's Tata Nano will go on sale in Bangladesh but with a price will be  nearly triple what it is at home.
Nano will cost 599,000 taka ($7,900) and will be distributed by Nitol Motors
That price compares with 141,000 Indian rupees ($2,870) for a basic Nano model in India. Analysts attributed the Nano's poor sales was of concerns due to lack of  safety, lack of cheap financing and operational hiccups after production shifted to a new plant. Tata was forced to offer free safety upgrades after around half a dozen of the cars caught fire.

Maruti Suzuki India shut its main plant at Gurgaon for two days

Due to component supply constraints from SPIL Maruti Suzuki India shut its main plant at Gurgaon for two days starting today , where workers are on a stir in support of the striking colleagues at the country's largest car-maker's Manesar plant. Maruti Suzuki has decided to suspend production at the Gurgaon plant on October 14 and October 15.  Tensions ran high at Maruti Suzuki India's Manesar plant with about 1,500 police personnel entering the factory and asking the striking workers to vacate the premises as per the Punjab and Haryana High Court order.
The workers, however, said they will not leave the factory unless forcibly evicted.
Suzuki Powertrain India Employees Union  and the rebel body of MSI's Manesar plant - Maruti Suzuki Employees Union also said that they will challenge the High Court order at the Supreme Court. Yesterday, the Punjab and Haryana High Court passed an order that there would be no sit-in strike within 100 meters of the premises of Maruti Suzuki's factory at Manesar. Workers at MSI's Manesar plant, SPIL and Suzuki Motorcycle India Pvt Ltd have been on strike since October 7 demanding reinstatement of about 1,200 casual workers at the carmaker's Manesar plant along with 44 other permanent workers.

MRF has crossed Rs 10,000 crore turnover

MRF  has crossed Rs 10,000 crore turnover in one year, becoming the first Indian tyre maker to achieve this mark, and announced plans to acquire plantations or companies abroad to neutralise the impact of high import duty on rubber.
In 2007 MRF reported Rs 5,000 crore. Within Span of 4 years they acheived 10,000 Crore.
MRF exports tyres to 65 nations. It has seven facilities in the country.

Gateway Distriparks Q2F12 Results

Gateway Distriparks Q2F12 Results
The company's Q2 net profit was up 12.5% at Rs 22.5 crore versus Rs 20 crore, year-on-year, YoY.Its net sales were up 40% at Rs 59 crore versus Rs 42 crore, YoY.

India's food inflation at 9.32% as compared to 9.41% previous week

India's food price index rose 9.32% and the fuel price index climbed 15.10% in the year to October 1.
In the previous week, annual food and fuel inflation stood at 9.41% and 14.69%, respectively.
The primary articles index was up 10.60%, compared with an annual rise of 10.84% a week earlier.
IIP expanded less than expected in August in further evidence of a slowdown in Asia's.
Indian inflation in August accelerated to 9.78%, its highest in more than a year, from 9.22% in July.
The RBI has raised interest rates a dozen times in the past 18 months inspite of slowdown and may consider again rate hike on 25th of this month

Jaybharat Textiles and Real Estates. A P Paper & KSL & Industries Ltd Results Q2F12

Jaybharat Textiles and Real Estates Results Q2F12 :-
Net sales up 31% at Rs 201 cr vs Rs 153 cr ,PAT down 43% at Rs 2.3 cr vs Rs 4 cr ,Total expenditure up 35% at Rs 180 cr vs Rs 133 cr,EBITDA up 5% at Rs 21 cr vs Rs 20 cr ,EBITDA margin at 1.14% vs 2.41%

A P Paper Q2FY12Total Income up 11.5% at Rs 204 cr vs Rs 183 cr ,Net loss at Rs 92 cr vs net profit at Rs 12 cr ,Total expenditure up 26% at Rs 183 cr vs Rs 142 cr ,EBITDA down 49% at Rs 21 cr vs Rs 41 cr ,EBITDA margin at 10.3% vs 22.4%

KSL & Industries Q2FY12Net sales up 18% at Rs 390 cr vs Rs 332 cr,PAT up 12% at Rs 4.7 cr vs Rs 4.2 cr ,Total expenditure up 14% at Rs 320 cr vs Rs 281 cr ,EBITDA up 37% at Rs 70 cr vs Rs 51 cr ,EBITDA margin at 17.95% vs 15.36%

Coal India Will offer 4 mt meant for E-auction in October to power companies

Coal India Will offer 4 mt meant for E-auction in October to power companies Diversion of E-auction quota will not have much impact said Coal India Chairman, Coal India is Currently producing 1.1 mt everyday E-auction quota stays intact for the entire year. He also said that Labour unrest in future donot take place and  FY12 production stays at 452-454 mt.

S&P downgraded the long-term credit rating of Spain

S&P downgraded the long-term credit rating of Spain by one notch to AA- from AA with a negative outlook, due to weak growth, tightening fiscal conditions and high private sector debt.
It added it expected continuing deterioration in financial system asset quality while the incomplete state of labour market reform will contribute to structurally high unemployment that will be drag on economic recovery

Hyundai Eneters into small car segment Maruti Will Face The heat

Maruti Will feel the heat as Hyundai launched its entry level compact car Eon that has been developed specifically for the Indian market.


The car has been priced aggressively between Rs 2.69 lakh and Rs 3.71 lakh .
The company, which operates through wholly owned subsidiary Hyundai Motor India Ltd (HMIL), said the car has been designed and developed keeping Indian consumers in mind.
The Eon, which will compete with Maruti Suzuki India's best selling model Alto, is powered by a 814 Cc petrol engine. Alto is priced between Rs 2.32 lakh and Rs 3.17 lakh  and is the best selling car, averaging about 20,000 units a month. Price is only 40,000 Less then Eon but looking at the features of Eon then surely Eon looks best.
HMIL has invested Rs 900 crore on the development and production facilities for the Eon.
Hyundai Eon features for all variants are body color bumpers, body color door handles and body colored OSVRMs (outside rear view mirrors), multi trip meter, remote fuel gaze opener, remote boot lease opener, adjustable steering column, seat belts for all seats and so forth. But, Power steering, all four power windows, central locking, front fog lamps, designer wheel covers, rear spoiler, even a music system etc. will be offered only in the top-end variant as standard. All these innovative features of the car are much more to prove it good comfortable entry level small car.

Hyundai Eon dimensions are also superb and the new beast has good space. In it four to five passengers can sit easily. Its length is 3495mm, width is 1550 mm, Height is 1500 mm and wheelbase of the small car is 1380 mm. Hyundai Eon boot space is 215 litres while kerb weight of the new small car is between 715 to 795 kgs.

Currently, Hyundai Motors India Limited is offering this new small car only in petrol engine model while an LPG variant is also expected by the end of this year. Hyundai Eon comes equipped by a 814cc, three cylinder petrol engine that makes out maximum power of 56ps at 5500 rpm and belts out peak torque of 7.65 Kgm at 4000 rpm. The engine of new Hyundai small car is mated with a 5 speed manual gearbox while an automatic version is also expected by end of this year which will be a surprise for the Hyundai Eon lovers. Hyundai Eon mileage is 21 kmpl which is impressive.

Lilliput Kidswear IPO Distrupted

Lilliput Kidswear has gone to police said that anonymous callers try to defame and has written to banks to mention the IPO was sabotaged. Lilliput has filed a police criticism against unknown callers saying that they need created a shot to defame the corporate. The numbers of those callers are identified and also the police are trying into the matter. The company in its letters to its bankers has said that this whole exercise by the PE investors is in an exceedingly approach a shot to sabotage the IPO. Private equity investors Bain Capital and TPG had pulled out of the corporate at the side of the auditors. that they had done this on the premise of calls, that that they had received from unknown persons.
Furthermore, Lilliput has gone onto say that it's stunning that simply on the premise of unknown calls such a giant call are taken by the investors and also the auditors. Lilliput has conjointly said that the corporate is shocked that these allegations were accepted, particularly by Bain Capital considering that it absolutely was a lively partner which it absolutely was an everyday visitor to its offices. In it’s letter to the bankers, it's sought support from them, so the worth of the corporate isn't reduced. it's clearly alleged that it’s a shot to sabotage their IPO. Meanwhile, Bain Capital and TPG, refused to treat the allegations as they assert the matter is currently before the High Court. However, these 2 players don't comply with a number of the statements created by Lilliput and said they arrange on responding in due course.

Thursday 13 October 2011

Kajaria Ceramics Q2 Results

Kajaria Ceramics Q2 standalone net profit was up 46% at Rs 19 crore versus Rs 13 crore, year-on-year, YoY.
Its standalone net sales were up 42% at Rs 316 crore versus Rs 222 crore, YoY.

Zenith Infotech defaults on $ 33 m FCCB payment

Zenith Infotech defaults on $ 33 m FCCB payment,FCCB Holders were payable on Sep 21. Bondholders may take Co. to court on default

Utkal Coal get approval for coal mining

The Ministry of Environment & Forests has granted final approval for diversion of 149 ha. forest land in Utkal-C Coal Block in Raijharan, Nandichor, Similisahi and Golagadia under Angul District, Odisha for coal mining in favour of Indian Metals & Ferro Alloys' subsidiary Utkal Coal.

Results Today VST Industries & Praj Industries

VST Industries reported net profit of Rs 33.59 crore for quarter ended September 2011 as compared to Rs 24.01 crore in the same period a year ago. Total income was at Rs 164.76 crore as against Rs 160.40 crore.

Praj Industries reported net profit of Rs 20.53 crore for quarter ended September 2011 as against Rs 8.90 crore in the same quarter a year ago. Total income rose to Rs 228.90 crore as compared to Rs 108.77 crore in the corresponding quarter last fiscal.

DCB Bank Results

DCB Q2 profit was more than doubled to Rs 13.32 crore versus Rs 4.8 crore (YoY); margins jumped and NPAs reduced.

Friday 7 October 2011

Moody’s Investors Service Downgarded 12 UK financial institutions

Moody’s Investors Service today downgraded the senior debt and deposit ratings of 12 UK financial institutions. The rating actions include a one-notch downgrade of Lloyds TSB Bank plc (to A1 from Aa3), RBS (to A2 from Aa3), Santander UK plc (to A1 from Aa3), Co-Operative Bank plc (to A3 from A2), a two-notch downgrade of RBS plc (to A2 from Aa3) and Nationwide Building Society (to A2 from Aa3); and downgrades of one to five notches of 7 smaller building societies. The ratings of Clydesdale Bank were confirmed at A2 (negative outlook).

L&T may again take fresh talks to sell its IT business

L&T may again take fresh talks to sell its IT business L&T Infotech and Fujitsu may be the frontrunner to bag the stake,Fujitsu is likely to be front runner while Capgemini too has shown interest in L&T Infotech. Both the players are believed to have entered due diligence stageHowever, both the companies have declined to comment calling it a mere market speculation. As per the deal, the buyer will get an eight-year IT outsourcing contract from L&T

Tata Motors launched its Manza sedan and Prima range of premium commercial vehicles in South Africa

Inflation no.s at 10.84% during the week compared to 11.43% in the previous week

Food inflation, as measured by Wholesale Price Index (WPI), stood at 9.13% in the previous week. The rate of price rise in food items was 16.88% in the corresponding week of 2010.
Food inflation rose to 9.41% for the week ended September 24 on the back of costlier vegetables, fruits, milk and protein-based items.
As per data from the Ministry of Commerce, vegetables became dearer by 14.88% year-on-year during the week under review, while potatoes and onions grew more expensive by 9.34% and 10.58%, respectively.
Fruit prices went up by 11.72%, while milk was up 10.35% and eggs, meat and fish became 10.33% more expensive.
Cereals became dearer by 4.57% and pulses were up 7.54% on an annual basis during the seven-day period.
Inflation in primary articles stood at 10.84% during the week under review, compared to 11.43% in the previous week. Primary articles have a share of over 20% in the WPI.

Wednesday 5 October 2011

Punj Lloyd has won an EPC contract for the first polysilicon plant of Qatar to manufacture 8000 MTPY

Punj Lloyd has won an EPC contract for the first polysilicon plant of Qatar. The contract has been awarded by Qatar Solar Technologies (QSTec) and is scheduled to be commissioned by mid 2013.The contract may be a a part of QSTec's plans to line up a plant value approximately US$1 billion in Qatar, to manufacture 8000 MTPY (Metric Tons Per Year) of high-purity solar grade polysilicon. The site, chosen with future growth in mind, is found on 1.2 million sq. meters of land in Ras Laffan Industrial town within the north east of Qatar, the center of Qatar's LNG  refineries and exports.The scope of labor for the contract, that has been awarded to Punj Lloyd for the 4000 MTPY capability plant, is predicated on residual basic engineering and style, detailed engineering, procurement, supply, producing, fabrication, route survey wherever needed for over dimensional consignments, installation, construction, testing, pre-commissionong and commissioning.

BHEL bagged a Rs 3,800 crore order from Dainik Bhaskar Power Limited

BHEL bagged a Rs 3,800 crore order from Dainik Bhaskar Power for putting in place a 1,320-MW thermal power plant in Madhya Pradesh.BHEL is presently executing another contract for DBPL, involving the availability and commissioning of a 2x600 MW boiler, turbine and generator package, in conjunction with associated auxiliaries for a 1,200-MW coal-based thermal power project in Chhattisgarh.BHEL's scope of labor beneath the new contract envisages the look, engineering, manufacture, supply, erection, testing and commissioning of supercritical boilers, steam turbines and turbo-generators in conjunction with state-of-the-art controls and instrumentation and different associated auxiliaries like transformers and a switchyard.
Out of the full orders for power plant equipment with a cumulative generation capability of 31,560 MW received by BHEL throughout 2009-10 and 2010-11, orders received from freelance power producers accounted for 22,369 MW.BHEL has established the aptitude to deliver15,000 MW of power equipment once a year and any augmentation of its capability to 20,000 MW once a year is underway.

Suzlon Energy Limited get third consecutive order from GAIL

Suzlon Energy Limited get  third consecutive order from GAIL for 17 units of Suzlon's S82 - 1.5 MW wind turbines to be commissioned in Karnataka in 2012.This is GAIL's third wind energy project order placed with Suzlon. GAIL's previous two projects are located in Gujarat. The first 4.5 MW project, comprising Suzlon's S-82 1.5 MW wind turbines, was commissioned in March 2010, and the second 14.7 MW project is currently under execution. These two projects cater to fulfill GAIL's captive power requirements. The new project in Karnataka is to sell the power generated to a local power distribution company.

RIL will Stops Gas Supply to Indo Gulf Fertiliser, IFFCO, KRIBHCO, Shyam Fertilisers and Tata Chemicals in UP By tommmorow

Reliance Industries Ltd  has served a notice for suspension of gas provides to four fertiliser plants Indo Gulf Fertiliser, IFFCO, KRIBHCO, Shyam Fertilisers and Tata Chemicals in Uttar Pradesh from tomorrow unless they enhance their money guarantees to hide for state sales tax.
The fertiliser companies, that turn out regarding two million tonnes of urea from gas sourced from RIL, are hostile providing money guarantees within the type of letters of credit  to hide for liabilities arising out of the levy of native sales tax on gas sales, because it would increase the value of production and subsidy payouts.

RIL provides some four million Standard cubic metres per day of natural gas from its jap offshore KG—D6 fields to those plants. Like elsewhere within the country, it's been charging central sales tax of two per cent from users in Uttar Pradesh.However, the state government has refused to just accept these transactions as inter—state sales and have demanded that native sales tax of twenty one per cent ought to be paid. Tax because the liability of shoppers has been clearly enshrined within the Gas Sales and get Agreement RIL signed with fertiliser and alternative users.Naturally, users ought to have contested the demand for higher sales tax, however surprisingly, RIL visited the Allahabad High Court difficult the demand.The High Court on July twenty six, 2010, stayed the Uttar Pradesh government demand. The state government has appealed against the keep in Supreme Court.Sources said RIL is demanding that users in Uttar Pradesh enhance the worth of their Letters of Credit, that were previously submitted as guarantees against default, to hide for payments in case, the state sales tax liability was to materalise.

So far, the state power utility NTPC is that the solely firm that has enhanced its LC, whereas fertiliser companies haven't complied with RIL’s demand to date, resulting in the notice for suspension of provides.While the fertiliser companies refused comments, the Fertiliser Association of India  has shot off letters to the Oil and Fertiliser Ministry protesting against the RIL move.The demand of RIL for a better LC is completely unjustified,” he wrote.RIL had last year, too, threatened to suspend provide to the fertiliser plants with result from July fifteen, 2010, if the worth of their LCs weren't raised.While the threat was executed, RIL has once more issued the notice as a result of the tax liability, in case the Uttar Pradesh government’s demand is upheld, amounts to a whopping Rs 750 crore.
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Kernex Microsystems India Ltd has received M/s. Konkan Railway Corporation Ltd.

Kernex Microsystems India Ltd has received M/s. Konkan Railway Corporation Ltd., for Development and delivery of ACD System Version 2.0 of value Rs. 16.765 crores, which included Application Software, Hardware, ACD Route Survey and Design methodology, Performance Reporting System, obtaining of approvals from ETDC and other accredited laboratories and live trials to be conducted shortly in designated sections of Railways.

Tilaknagar Industries Ltd has acquired 100% stake in Punjab Expo Breveries Pvt. Ltd

Tilaknagar Industries Ltd has acquired 100% stake in Punjab Expo Breveries Pvt. Ltd., a bottling unit situated at Derabassi, Punjab on October 01, 2011

Prime Focus has been roped in by Red Chillies for Ra-One

Prime focus that has been accountable for making the magical world of 3D for the recent releases like Harry Porter, inexperienced Lantern, Transformers and Narnia is currently adding the foremost anticipated Indian unleash to the current list. Prime Focus has been roped in by Red Chillies to supply its View-D services to the magnum opus Ra. One. Scheduled for a Diwali unleash, the movie is anticipated to be the largest unleash across the country until date and plans to open in 3000 screens with over 2000 prints in circulation. along side being the only real supplier of 2D-3D conversion, Prime Focus is additionally providing Dl and VFX services for Ra. One.Prime Focus has been a awfully integral a part of the 3D revolution witnessed within the recent times across the world. Recently Lucas Films announced their collaboration with Prime Focus for the 3D conversion of Star Wars: Episode I The Phantom Menace for theatrical unleash. Also, Prime Focus a multi-film production and post production contract with UTV Motion footage, an arm of UTV Software Communications. The partnership can begin with UTV Motion Pictures' 3D film Joker, that Prime Focus can give the 3D services.

Ashok Leyland bags an order for 723 trucks from Tanzanian

Ashok Leyland,Hinduja Group flagship, enetered into the Tanzanian market by bagging an order for 723 trucks, worth over $36 million for buses and special application vehicles.These vehicles will be used for logistical purposes by the government and the Company will complete deliveries by end of the current fiscal

Eveready Industries India is planning to sell around 60-70 acre

Eveready Industries India is planning to sell around 60-70 acre of land in Delhi, Hyderabad and Bangalore to pay debt of about Rs 200 crore. The company is not in a hurry to sell land. Eveready Ind to sell land for Rs 250-275cr.

Tuesday 4 October 2011

Dabur India invest USD 15 million in Srilanka

Dabur India invest USD 15 million to line up an export-oriented facility for manufacturing a spread of fruit-based beverages in Sri Lanka at Gampaha, north of Colombo.The new producing facility can have a capability to provide 2.8 lakh cases of fruit-based beverages each month, and can be commissioned in August-September 2012.The plant will initially employ 75 people when operational, and the company plans to increase number of staff to around 200 by 2013-14.  Dabur’s Food business had reported over 28% growth in 2010-11 despite the provision constraints.
Apart from Sri Lanka, Dabur already has producing units in neighbouring Bangladesh and Nepal. It conjointly has facilities in Dubai and Ras-al-Khaimah in UAE, except for Nigeria, Egypt and Turkey.

Reliance Broadcast Networkto raise Rs 1000 via the qualified institutional placement route

Reliance Industries is putting in place the building blocks for a nationwide rollout of its planned fourth generation wireless broadband network also submitted a proposal to the government regarding KG-D6 on pricing today. With the elder Ambani pulling up his sock, Anil Ambani too is geared to make his splash. ADAG company Reliance Broadcast Network has received approval from its shareholders to raise Rs 1000 via the qualified institutional placement route. He says that phase III of radio is indeed going to be a game-changer and the government policy of raising FDI limit to 26% will bode well for the industry.

GAIL India Ltd to acquire 5.2% stake in Petronet LNG from Asian Development Bank

GAIL India Ltd is keen to acquire 5.2% stake in Petronet LNG  from Asian Development Bank for over Rs 600 crore for it. ADB has offered to sell its 39 million shares or 5.2% stake in Petronet, which is valued at over R614 crore at Monday’s trading price of Rs 157.85 per share.GAIL, ONGC, IOC and BPCL hold a 12.5% stake each, to restrict the public sector holding in the company at 50%. GdF holds 10%. Under the share holders’ agreement (SHA), the five have the first right of refusal over ADB stake.

State Bank of India Rating done by Moody’s Investors Service

Moody’s Investors Service reportedly downgraded State Bank of India’s  bank financial strength rating, or standalone rating, to ‘D+’ from ‘C-’. the revised rating maps to a baseline credit assessment of ‘Baa3’. The hybrid debt rating of the Indian state-run lender was cut to ‘Ba3(hyb)’ from ‘Ba2(hyb)’. The revised bank rating carries a stable outlook and the hybrid rating a negative outlook.

Monday 3 October 2011

Reliance Power Tilaiya UMPP will get carbon credits worth Rs 2,000 crore

Reliance Power will earn Rs 5,000 crore from carbon credit from the three ultra mega power projects of 4,000 MW that.The company seeks to earn almost Rs 2,000 crore in 10 years by registering its 4,000 MW Tilaiya ultra mega power project for carbon credits after it got two of the other mega projects registered with the Clean Development Mechanism Executive Board of United Nations Framework Convention on Climate Change.Anil Ambani-led RPOWER, Rs 17,400-crore ultra mega power project at Krishnapatnam in Andhra Pradesh has qualified for carbon credits, which will help it earn Rs 1,100 crore in the first 10 years of operations.

CBI has Raids JSW Steel premises in Bellary

Another -VE News for JSW Steel ,CBI has conducted searches on the company's premises in Bellary in connection with illegal mining . JSW Steel touched a 52-week low of Rs 548.55 today.

Sunday 2 October 2011

PC Jawellers Plans IPO


PC Jeweller plans initial public offer (IPO) to raise up to Rs 570 crore for opening of 20 new retail showrooms across the country. The Delhi-based jeweller, which currently has 20 stores, had filed the DRHP with the market regulator SEBI last week, to launch its IPO of 4.51 crore equity shares of Rs 10 each.
PC Jeweller posted a net profit of Rs 146.7 crore over a turnover of Rs 1,993.84 crore during the last fiscal.
The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market. In addition to retail operations, the company sells gold and diamond jewellery on a wholesale basis to other jewellery retailers in India. It export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore. In the last fiscal, exports contributed about 34 per cent to the company's total income.
The book running lead managers are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.

Maruti Suzuki Sales No.s

Maruti Suzuki Sales no.s
Co. reported a 20.8% decline in sales for September to 85,565 units due to labour unrest at its Manesar plant that severely affected production.The company had sold 1,08,006 units in the same month last year.
The Manesar facility rolls out Maruti Swift that has a waiting period of over four months. The plant also produces hatchback A-Star and sedan SX4.
Luxury sedan Kizashi witnessed sales of 14 units.
MSI's exports in September also fell, down 47.5%, to 6,749 units from 12,858 units in the year-ago period.
Sales of the company's mini-segment cars, including the M800, A-Star, Alto and WagonR, fell by 23.5% to 37,324 units from 48,780 units in September, 2010.
Estilo, Swift and Ritz witnessed a 9.3% dip in sales to 19,722 units from 21,749 units in the same month a year ago.
Sales of DZiRE, however, grew by 9.9% to 9,411 units from 8,566 units in the corresponding period a year ago. MSI's mid-sized sedan SX4's sales slipped by 90% to 196 units from 1,965 units in the year-ago month.

Tata Motors Sept. Sales No.s

Tata Motors Sales no.s
The company had sold a total of 64,668 units in the same month of 2010.
The homegrown firm's total passenger vehicles sales in the domestic market stood at 26,319 units in September, up 10.22% from 23,877 units in the same month last year.The company's small car Nano's sales stood at 2,936 units during the month, down 47%.
The 'Indica' range reported sales of 10,282 units, up 64% from September, 2010.
The 'Indigo' family recorded sales of 7,793 units, a decrease of 11% in comparison to the same month last year. Sales of 'Sumo', 'Safari', 'Aria' and 'Venture' grew by 60% to 5,308 units.
In the commercial vehicles segment, the company sold 46,247 units in the domestic market in September, compared to 35,734 units in the same month last year, up 29%.
LCV sales during the month amounted to 28,092 units a growth of 47% over last year
Medium and heavy commercial vehicle sales stood at 18,155 units, a growth of 9% compared to September, 2010.

Saturday 1 October 2011

Kodak shares fall 60 per cent on restructuring fears or May get Bankrupt

Kodak Co shares lost quite half their worth on Friday because the company employed a law firm well-known for bankruptcy cases, triggering speculation that the photography pioneer may file for bankruptcy.
Kodak, that delivered the primary client camera in 1888, denied it had a bankruptcy set up, saying it had been committed to meeting its obligations and remains yearning for ways in which to "monetize" its patent portfolio.

Once synonymous with photography, Kodak has struggled with the move to digital cameras and didn't flip a profit since 2007. it's been exploring a purchase of its digital imaging patents, value an estimated $2 billion, and employed investment bank Lazard in July to explore choices.

Rochester, New York-based Kodak said it's "no intention of filing for bankruptcy," once its shares plunged the maximum amount as 68 per cent to 54 cents before recovering slightly to shut down 53.8 per cent at seventy eight cents on the big apple Stock Exchange.

The company's market worth plummeted to roughly $210 million on Friday, down from a lofty height of $31 billion in February 1997, as shown by regulatory filings. the value to insure Kodak's debt with credit default swaps (CDS) surged on Friday as investors priced in bigger bankruptcy risk.

Kodak had already scared markets on Monday when it tapped a credit line however refused to divulge its money position. The stock dived to a 38-year low that day.

Then investors took fright once more Friday once Bloomberg reported that potential patrons for its patent portfolio were cautious regarding going ahead with a bid as they may risk having Kodak creditors sue them once a bankruptcy filing.

Mark Kaufman, an analyst at Rafferty Capital Markets, said that Kodak urgently required to seal a patent deal.

"I do not believe bankruptcy is inevitable. this can be a fairly valuable portfolio, they ought to get an honest value," he said. "They got to get this (sale) out of the method. they have to sell this portfolio, raise some form of money."

The company said in July that it employed Lazard to advise on strategic choices for its patents -- increasingly seen as lucrative assets. Bankrupt Canadian company Nortel fetched $4.5 billion in an exceedingly patent sale in June, conjointly run by Lazard. Google Inc agreed in August to shop for Motorola Mobility for $12.5 billion primarily for its patent portfolio.

One professional -- Robert Miller, a professor at Villanova University faculty of Law -- said filing for bankruptcy may very well find yourself boosting the worth of a patent sale.

Even if the corporate holds a strong, public auction outside of bankruptcy, the headache of litigation still looms if Kodak goes bankrupt later, said Miller.

Selling the assets as a part of a bankruptcy court-supervised auction would solve that concern, Miller said.

Kodak confirmed that it's employed Jones Day however failed to justify why, beyond saying it had been "not uncommon for a corporation in transformation to explore all choices."

The company's board isn't considering replacing Perez at this point, in line with a story within the Wall Street Journal, that cited 2 individuals at home with the matter.

Kodak CDS prices rose to seventy per cent Friday from sixty one per cent Thursday, knowledge supplier Markit said. which means it might price $7.0 million in upfront payments, plus $500,000 a year to insure $10 million debt if Kodak debt for 5 years.

TVS Motor Sales No.s


India's third-largest two-wheeler maker TVS Motor Co its total sales in September rose 17 percent from a year earlier.Total sales 219,369 188,005 17 Two wheelers 215,690 184,783 17 Three wheelers 3,679 3,222 14 Exports 25,973 20,487 27