Smartlink Network Systems has surged 104.80% within the last 3 months

Leading networking firm Smartlink Network Systems has surged 104.80% within the last 3 months. the corporate announced its this autumn earnings when trading hours yesterday. It counseled a dividend of Rs a pair of per equity share for the money year 2010-11. The Board of administrators additionally declared a special interim dividend of Rs thirty per share. Today, the scrip touched a 52-week high of Rs a hundred.60. Today’s stock performance:The share gained nineteen.68% or Rs sixteen.50 to finish at Rs a hundred.35 on the BSE. It touched an intraday high of Rs a hundred.60 and an intraday low of Rs ninety two. there have been pending purchase orders of forty three,484 shares, with no sellers accessible. the full traded volumes were of two,023,408 shares. Its market capitalisation stood at Rs 301.85 crore. The company's trailing 12-month (TTM) EPS was at Rs four.96 per share. The stock's price-to-earnings (P/E) ratio was twenty.28. the newest book worth of the corporate is Rs fifty one.59 per share. At current worth, the price-to-book worth of the corporate is one.95. The dividend yield of the corporate is a pair of.49%.Recent news:The company recently completed the sale of its Digilink business to Schneider electrical India for Rs 503 crore.FY11 results:The company's revenue was up one hundred and thirtieth at Rs 195 crore versus Rs 173 crore. Its profit when tax (PAT) was down five.6% at Rs twenty four crore versus Rs thirty three crore. Its total expenditure was up one hundred and eightieth at Rs 179 crore versus Rs 152 crore

Scooters India Results

Q4 net loss at Rs 1.3 crore versus loss of Rs 8.1 crore. Its revenue at Rs 51 crore versus Rs 39 crore

Rain commodities Stock Split

Stock Split from Rs 10 to Rs 2 per share

Power Grid Corp of India can invest concerning 185 billion rupees ($4.1 billion) in FY12

State-run transmission utility Power Grid Corp of India can invest concerning 185 billion rupees ($4.1 billion) in FY12 to enhance the country's power transmission capability, its chairman and managing director, S K Chaturvedi , told Reuters on Wednesday. Power Grid that features a market capitalisation of $10.11 billion had earmarked capital expenditure of eleven9 billion rupees within the fiscal 2010/11, whereas it plans to speculate $27 billion over Twelve 5 Year arrange commencing on 2012. It hopes to commission further transmission comes price a hundred and ten billion rupees ($2.4 billion) within the current fiscal, a jump of thirty seven.5 p.c from the year ago, he said. "This year we've done (projects) around eighty billion rupees, next year it'll be quite a hundred and ten billion rupees," Chaturvedi said during a phonephone interview. Power Grid, that carries quite four hundred billion units, or fifty one p.c of India's electricity, has seen an year-on-year increase of nine.5 p.c in its total transmission line assets in FY11, knowledge on its internet web site showed. The firm mainly earns its revenue from transmission fees from power producers, therefore a lot of the quantity of comes it commissions, would mean a lot of revenue generation capability. "(In FY12) heap several new comes are going to be capitalised ... Also, we've awarded the contracts for tower leasing, therefore revenue can begin coming back from that phase conjointly," Chaturvedi said. Power Grid's broad band telecom network of twenty,733 km connects quite 129 cities across India and it's leased a number of its towers within the states of Himachal Pradesh, Punjab and Jammu & Kashmir to Macroquil for telecom usage, he added. Power Grid can launch the second section of leasing its towers for the telecom usage in next six months, he said. The firm that has executed transmission comes or consultancy contracts in Afghanistan, Bhutan, Bangladesh, UAE, Nepal and Srilanka is eyeing a lot of consultancy contracts in different geographies. "The discussions are occurring (for the consultancy jobs) with Kenya, Nigeria and Cambodia." Power Grid has already executed comes in Nigeria. On Tuesday, Power Grid has posted thirty two p.c jump in its web profit to twenty six.97 billion rupees, on total revenue of eighty three.89 billion rupees.

JB Chemical to concentrate on CRAMS Business

JB Chemicals , that has sold many over-the-counter brands in Russia to Johnson & Johnson , can currently specialize in its contract analysis and producing services ( CRAMS )) business, a senior official told a conference decision on Wednesday. On Tuesday, Johnson & Johnson agreed to shop for Rinza, Russia's leading multi-symptom cough and cold whole, and Doktor Mom, Russia's No. a pair of cough whole, for regarding $260 million because it expands into rising markets. JB Chemicals, that has transferred thirty five % of its overall sales to a Johnson & Johnson affiliate, can got to pay 21-22 % tax on a part of the deal worth, President Pranabh Mody said.

JK Tyre results

JK Tyre Industries on Tuesday reported fifty per cent fall in its web profit for the quarter ended March thirty one at Rs thirteen crore attributable to sever impact of high raw material costs. In order to mitigate the impact of rising natural rubber costs, the corporate is "seriously evaluating" choices to amass companies engaged in plantation of the commodity. it's additionally earmarked a capex of Rs 960 crore for this fiscal. The company had posted a web profit of Rs twenty six crore within the January-March quarter last year, JK Tyre & Industries President and Director Arun K Bajoria told reporters here. The net sales throughout the fourth quarter of last fiscal, however, increased by twenty eight.53 per cent to Rs one,347 crore from Rs one,048 crore within the year-ago amount. At 10:08 am, shares of the corporate were trading two.32 per cent up at Rs ninety.50 on the Bombay Stock Exchange . "It was a really robust year in terms of raw material costs, that increased by concerning forty three per cent in last fiscal. The impact of this rise in our margin was 25-27 per cent, however we have a tendency to raised the tyre rates by solely 17-18 per cent in FY11. therefore this impacted our bottomline," Bajoria said. Besides, low cost imports of radial tyres from China has additionally affected the corporate yet because the business, he added. When asked concerning its strategy to counter the impact of rising raw material costs, Bajoria said: "We are observing rubber plantation. we have a tendency to are seriously evaluating choices to amass firms engaged in rubber plantations." He, however, declined to share details saying nothing has been finalised however. "We are engaged on to substitute rubber by another material," he said, adding, the R&D goes on at 3 completely different places across the country. JK Tyre & Industries spends concerning one.5-2 per cent of its web sales in R&D activities per annum. For the whole 2010-11, the company's consolidated web profit declined by seventy one.53 per cent to Rs sixty two.55 crore from Rs 219.74 crore within the previous fiscal. The company's consolidated web sales rose to Rs five,945.44 crore for the year ended March thirty one, 2011, from Rs 4,570.58 crore in FY'10, up 30.08 per cent. The board on Tuesday counseled a dividend of thirty per cent, that is Rs three per equity share, for 2010-11. Talking concerning the outlook, Bajoria said: "We hope the same growth of around thirty per cent in our web sales in 2011-12". He any said the corporate can invest Rs 960 crore during this fiscal, mainly to expand its capacities of assorted tyres. The company is expanding the truck and bus radial tyres capability at the Mysore facility to fourteen lakh units annually by 2013 from eight lakh units nowadays. Bajoria additionally said the firm is enhancing its total output of passenger automobile radial tyres by operationalisation of its greenfield facility in Chennai by the tip of 2011. "Currently our total passenger automobile radial tyre capability is fifty lakh units. when the Chennai plant starts manufacturing, the output can go up to seventy five lakh units annually," he added. The company on Tuesday announced to hike costs of its entire vary of merchandise by up to six per cent from June on account of rising input prices. It produces tyres for tractor, passenger automobile, truck, bus and off-the-road vehicles. the costs of those vary between Rs one,500 and Rs twelve lakh.

HUL to taps rural India

Hindustan Unilever Ltd (HUL) has initiated discussions with prime telecom corporations and banks & monetary services corporations to make a joint distribution model to hide India's six.38 lakh villages within which some 775 million individuals reside. The maker of Lifebuoy soaps , Surf detergents and Dove shampoos plans to ride on the progress created by its different distribution channel referred to as Project Shakti to penetrate deeper into rural India in a very cost-effective manner. HUL, that hopes to own 1,000,000 shops by 2011-end, up from 5.50 lakh last year, has unveiled a blueprint titled 'Gateway to Rural: Beyond FMCG'. Says Hemant Bakshi, government director (sales & client development), HUL: "Since all folks are incurring high prices within the quest to travel rural, it is smart to partner and compute win-win deals." "HUL can play a key role to be an enabler in reaching these markets." HUL has initiated a pilot project with India's largest bank, the State Bank of India (SBI) in Maharashtra and Karnataka. HUL's Shakti Ammas, ladies who sell HUL's shopper merchandise in rural India, have doubled up as client service-providers and opened around one,000 accounts for rural people. If this exercise proves scalable, HUL plans to roll it out across the country over subsequent twelve months. Banks, that are being pushed by the regulator to become ambassadors of monetary inclusion, are grappling with a way to look beyond the traditional branch model to penetrate deeper in a very viable manner. HUL's Shakti model might facilitate banks take merchandise like insurance and mutual funds to non-urban of us. this might not be too totally different from what ITC's rural model for farmers, the ITC e-Choupal is trying, insurance corporations are reportedly keen on riding on the in depth network ITC's e-Choupals has designed with the farming community. The common strand that binds banks, mobile service-providers and fast-moving shopper merchandise corporations like HUL is that all of them have to be compelled to drive deeper into rural markets to stay the expansion coming back. Recently, as an example, SBI and Bharti Airtel entered into a joint venture to produce reasonable banking services to the unbanked. Airtel's 1.5 million retailers and distributors across India can play a key role in taking these services upcountry. It's such an exceptional reach of mobile service-providers that might have convinced HUL to start out talking with them (although Bharti Airtel might not be one amongst them). it's unclear at the instant whether or not HUL can kind separate rural distribution joint ventures as a business model or sign revenue-sharing agreements. Says Jagdeep Kapoor, chairman, Samsika selling Consultants: "HUL needn't reinvent the wheel when it will use the prevailing reach of alternative corporations in remote rural markets. Collaboration would be cost-effective in dashing up reach and lowering prices."

Punjab National Bank aquiring 33% stake in MetLife India

Punjab National Bank is near shopping for 33% stake in MetLife India which will boost fee income for the staterun bank and supply the US insurer with the second-best monetary distribution platform within the country. "PNB is in talks to choose up to thirty third stake in MetLife," said an individual conversant in the negotiations. "The deal is also finalised within the next few days," he added. Four additional folks conversant in the negotiations said the discussions on valuations are continuing. There is no certainty that the transaction can occur. The discussions between PNB and MetLife conjointly involve Jammu & Kashmir Bank , that owns one hundred and thirtieth of the insurer. The state-run lender might obtain out alternative shareholders like J&K Bank and Shapoorji Pallonji & Co. there is no call on that nonetheless, the folks said. MetLife Insurance managing director Rajesh Relan said the corporate wouldn't touch upon speculation. "We are one among the 3 short-listed firms by PNB as per their method and also the discussions with the management are nonetheless to start," said Mr Relan. PNB failed to commit on the transaction either. "It would be premature to mention we've zeroed in on MetLife. The bank can take a final call primarily based on the monetary valuation report," said PNB government director MV Tanksale. A senior bank government within the grasp of the event said the deal is anticipated to be valued within the vary of Rs 12-13 per share. The bank in April had short-listed 3 insurance firms together with MetLife, Aviva and Bharti Axa Life Insurance for the industrial bid. A banker concerned within the deal said: "PNB wished to take a position during a insurance company which might supply it higher stake at a gorgeous worth." MetLife may be a JV between Jammu & Kashmir Bank, Shapoorji Pallonji & Co, US-based MetLife International and personal shareholders. PNB is probably going to shop for out the stakes of J&K Bank and alternative non-public investors. J&K Bank's stake has return right down to one hundred and thirtieth from twenty fifth when the JV was started in 2001. In 2010, MetLife had lost its bancassurance partner Axis Bank to Max big apple Life. This resulted during a drop in their business.

Suzlon get order of 200 turbines

Indian wind turbine maker Suzlon Energy said on Wednesday it signed a contract with African Clean Energy Developments for the supplying of up to two hundred wind turbines. Installation is anticipated to begin in late 2011 or early 2012, the corporate said in an exceedingly statement

US Begin to Hike Interest rate and Economy expected to grow at 2.6%

nullThe Federal Reserve ought to begin to hike interest rates in coming back months, the Organization for Economic Cooperation and Development said on Wednesday, because it raised its outlook for US economic growth. In its semi-annual forecast, the OECD said it sees US economic growth of two.6 per cent in 2011, up from its forecast last November for growth of simply two.2 per cent. The outlook, however, is far below the Fed's own "central tendency" estimates, that as of April twenty seven pegged growth for this year within the three.1 per cent to three.3 per cent vary. Despite what it sees as vital potential draw back risks to growth from higher energy and commodity costs, the OECD recommends the Fed begin slowly withdrawing a number of its extraordinary aid to the economy as 2011 progresses. "A modest reduction in financial stimulus ought to get underneath approach within the second half this year," the OECD said in its report. Alan Detmeister, the OECD Economics Department's US desk officer, said in a very press briefing the Fed ought to raise its benchmark federal funds rate to one per cent from the present zero to zero.25 per cent vary before the top of the year. Continued high levels of unemployment don't seem to be enough of a reason to stay rates at rock-bottom lows, the OECD said, since low rates raise the chance of future bubbles or inflationary shocks. The cluster predicts the US jobless rate, currently at nine per cent, can stay near eight per cent for abundant of 2012. "At gift there's very little sign that continued very loose financial policy settings have increased inflation expectations over alittle quantity or are leading to another asset worth bubble," the OECD added, citing oil and alternative commodities as a "possible exception." The OECD expects the trend of subdued inflation to continue for the foreseeable future, predicting US client worth inflation of one.9 per cent for this year and simply one.3 per cent next year -- well beneath the Fed's implicit target of two per cent or slightly below. The Fed appearance set to complete its $600 billion bond-buying program geared toward keeping long-term rates down in June, as scheduled. Its balance sheet currently stands at a record $2.74 trillion, however an outsized quantity of bank reserves stay parked at the Fed instead of being lent out to businesses.