Bharat Texts standalone Jun '13 sales at Rs 1.46 crore

Jul 31, 2013, 12.26 PM IST

Bharat Textiles And Proofing has reported a sales standalone turnover of Rs 1.46 crore and a net profit of Rs 0.02 crore for the quarter ended Jun '13

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Bharat Texts standalone Jun '13 sales at Rs 1.46 crore

Bharat Textiles And Proofing has reported a sales standalone turnover of Rs 1.46 crore and a net profit of Rs 0.02 crore for the quarter ended Jun '13

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Bharat Texts standalone Jun '13 sales at Rs 1.46 crore

Bharat Textiles And Proofing has reported a sales standalone turnover of Rs 1.46 crore and a net profit of Rs 0.02 crore for the quarter ended Jun '13

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Bharat Textiles And Proofing has reported a standalone sales turnover of Rs 1.46 crore and a net profit of Rs 0.02 crore for the quarter ended Jun '13. For the quarter ended Jun 2012 the standalone sales turnover was Rs 1.63 crore and net profit was Rs 0.05 crore. Bharat Texts shares closed at 13.10 on March 20, 2013 (BSE)

Bharat Textiles And Proofing Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 1.46 1.64 1.24 Other Income -- -- -- Total Income 1.46 1.64 1.24 Total Expenses 1.22 0.98 1.57 Operating Profit 0.24 0.66 -0.33 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 0.24 0.66 -0.33 Interest 0.12 0.03 0.15 PBDT 0.11 0.63 -0.49 Depreciation 0.09 0.09 0.09 Depreciation On Revaluation Of Assets -- -- -- PBT 0.02 0.54 -0.58 Tax -- -0.13 -- Net Profit 0.02 0.67 -0.58 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 0.04 1.15 -- Book Value -- -- -- Equity 5.86 5.86 5.86 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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RNB Industries standalone Jun '13 sales at Rs 0.02 crore

Jul 31, 2013, 12.26 PM IST

RNB Industries has reported a standalone sales turnover of Rs 0.02 crore and a net loss of Rs 0.01 crore for the quarter ended Jun '13

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RNB Industries standalone Jun '13 sales at Rs 0.02 crore

RNB Industries has reported a standalone sales turnover of Rs 0.02 crore and a net loss of Rs 0.01 crore for the quarter ended Jun '13

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RNB Industries standalone Jun '13 sales at Rs 0.02 crore

RNB Industries has reported a standalone sales turnover of Rs 0.02 crore and a net loss of Rs 0.01 crore for the quarter ended Jun '13

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RNB Industries has reported a standalone sales turnover of Rs 0.02 crore and a net loss of Rs 0.01 crore for the quarter ended Jun '13. For the quarter ended Jun 2012 the standalone sales turnover was Rs 0.02 crore. RNB Industries shares closed at 20.00 on July 29, 2013 (BSE)

RNB Industries Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 0.02 0.81 0.01 Other Income -- 0.76 0.76 Total Income 0.02 1.57 0.77 Total Expenses 0.03 0.72 0.01 Operating Profit -0.01 0.09 0.00 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit -0.01 0.85 0.76 Interest -- -- -- PBDT -0.01 0.85 0.76 Depreciation -- -- -- Depreciation On Revaluation Of Assets -- -- -- PBT -0.01 0.85 0.76 Tax -- -- -- Net Profit -0.01 0.85 0.76 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share -- 1.67 1.50 Book Value -- -- -- Equity 5.10 5.10 5.10 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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Clariant standalone Jun '13 sales at Rs 327.48 crore

Jul 31, 2013, 12.27 PM IST

Clariant Chemicals India has reported a sales standalone turnover of Rs 327.48 crore and a net profit of Rs 24.12 crore for the quarter ended Jun '13

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Clariant standalone Jun '13 sales at Rs 327.48 crore

Clariant Chemicals India has reported a sales standalone turnover of Rs 327.48 crore and a net profit of Rs 24.12 crore for the quarter ended Jun '13

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Clariant standalone Jun '13 sales at Rs 327.48 crore

Clariant Chemicals India has reported a sales standalone turnover of Rs 327.48 crore and a net profit of Rs 24.12 crore for the quarter ended Jun '13

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Clariant Chemicals India has reported a standalone sales turnover of Rs 327.48 crore and a net profit of Rs 24.12 crore for the quarter ended Jun '13. Other income for the quarter was Rs 4.06 crore. For the quarter ended Jun 2012 the standalone sales turnover was Rs 287.30 crore and net profit was Rs 30.76 crore, and other income Rs 4.52 crore. Clariant shares closed at 501.55 on July 30, 2013 (NSE) and has given -11.14% returns over the last 6 months and -19.93% over the last 12 months.

Clariant Chemicals India Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 327.48 284.57 290.36 Other Income 4.06 5.22 3.22 Total Income 331.54 289.79 293.58 Total Expenses 289.87 247.97 256.23 Operating Profit 37.61 36.60 34.13 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 41.67 41.82 37.35 Interest 0.32 0.73 0.33 PBDT 41.35 41.09 37.02 Depreciation 6.00 5.71 5.62 Depreciation On Revaluation Of Assets -- -- -- PBT 35.35 35.38 31.40 Tax 11.23 10.62 9.35 Net Profit 24.12 24.76 22.05 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 9.05 9.29 8.27 Book Value -- -- -- Equity 26.66 26.66 26.66 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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Sell Adani Enterprises, Dish TV, Reliance Power: Malkan

Jul 30, 2013, 12.23 PM IST

Vishal Malkan of malkansview.com recommends selling Adani Enterprises with a stop loss of Rs 183.50 for target of Rs 171 and advises selling Dish TV India with a stop loss of Rs 53.50.

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Sell Adani Enterprises, Dish TV, Reliance Power: Malkan

Vishal Malkan of malkansview.com recommends selling Adani Enterprises with a stop loss of Rs 183.50 for target of Rs 171 and advises selling Dish TV India with a stop loss of Rs 53.50.

Like this story, share it with millions of investors on M3

Sell Adani Enterprises, Dish TV, Reliance Power: Malkan

Vishal Malkan of malkansview.com recommends selling Adani Enterprises with a stop loss of Rs 183.50 for target of Rs 171 and advises selling Dish TV India with a stop loss of Rs 53.50.

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In CNBC-TV18's popular show Bull's Eye, Vishal Malkan of malkansview.com shares his trading strategies for the day.

One can sell Adani Enterprises . Yesterday it broke an important support of Rs 185 with volumes on daily chart. Price has started tagging the lower bollinger band, momentum has entered bearish zone. I recommend a sell with a stop loss of Rs 183.50 for target of Rs 171.

One can sell Dish TV India . In last two days the stock has been hammered from Rs 58 to 50 in the last two sessions with huge volumes, momentum entering bearish zone. I expect it to continue, so for today I have a sell target for a stop loss of Rs 53.50.

One can sell Indiabulls Real Estate . After making a double top at Rs 75 it has broken a trend line as well as a 20 day moving average with huge volumes and hourly charts have entered into bearish zone. I recommend a sell with a stop loss of Rs 66.50 for target of Rs 61.50.

One can sell Reliance Power Futures. It has shown a great resistance at Rs 81 which it has not managed to cross in last few months and shown some bearish patterns on daily as well as weekly charts. The candlestick patterns have been confirmed in the last trading session, so I expect it to continue its down move with a stop loss of Rs 76.50 for targets of Rs 72.

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Gold prices may remain on higher side: Karvy

Karvy Commodities Broking's research report on bullion -

Gold prices at the international front are trading at USD 1328, marginally down by 0.05 percent. The dollar index is trading up by 0.12 percent at 81.75, pressurizing gold prices to trade down. The FOMC meet scheduled to start today will be closely watched, as it might support a rise in gold prices in today's session. In the FOMC meet, Fed chairman Ben Bernanke would be on the supportive side for continuing the monetary easing. This would pressurize the dollar and support gold prices. At the domestic market, gold prices may remain on the higher side due to the depreciation of the rupee against the dollar. The CFTC longs have remained higher in comparison to the shorts which may extend gains in gold prices. Therefore, gold prices may remain on the higher side in today's session on the back of the FOMC meet and positive economic releases from Europe, which would support the euro against the dollar. Overall, we recommend remaining on the buying side.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Buy MCX Crude oil; target Rs 6250: Dani Commodities

Dani Commodities' report on Crude oil

Crude Oil settled at Rs 6251 per barrel, up 0.84%. The prices are shaping on the lower side similar to the open interest that is dipping with every passing session. The decline in open interest is an indicator that the path of Crude will become more skewed between upside and downside. The support for Crude is at Rs 6150, which is also its trend line support, intact from 9 July 2013.

MCX CRUDE OIL
International: Major Support for WTI at USD100 Bullish above USD 100
Domestic: Buy at 6210, Stoploss 6180, Target 6250.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Lanco in talks to restructure $1.5 bn debt - paper

Infrastructure builder Lanco Infratech has started discussion with its bankers to restructure debt worth Rs 90 billion as a weak economy takes a toll, the Business Standard newspaper reported on Saturday.

Also read: Government mulls plan to start coal banking system

If the process is approved by lenders, Lanco would be the second debt-laden company to go for major loan restructuring in the last year after lenders to wind turbine maker Suzlon Energy in November agreed to restructure about 110 billion rupees of its debt.

Lanco, which produces power and builds roads, and residential and commercial buildings in India, is looking to restructure a part of its debt after its attempts to sell some assets failed, the newspaper reported, citing unidentified bankers.

The company, which acquired Australia's Griffin Coal Mining Co for about $760 million in 2011, is exploring the option, a Lanco spokesman told Reuters, adding the possible process would not impact any of its units including the Australian business.

He declined to give details.

Lanco, which had total debt of 336 billion rupees, as of the end of March, posted losses in the last two financial years, as the weak Indian economy, growing at its slowest in a decade, hit infrastructure investment.

Banks bring cases to the so-called corporate debt restructuring process to negotiate relaxed repayment terms with struggling borrowers.

"We told the company that something needed to be done about the huge debt, as it had exhausted all its options," a senior state-run bank official was quoted in the Business Standard report as saying about the possible Lanco restructuring.

Project bottlenecks, largely because of problems in acquiring land and high funding costs, have also sapped investment in the infrastructure industry in Asia's third-largest economy.

Reflecting the poor economic climate, the earnings outlook of many mid-sized and debt-laden Indian infrastructure builders such as Jaiprakash Associates Ltd and GMR Infrastructure Ltd has deteriorated.

Many lenders have expressed worry about loans to the power, commercial real estate, construction, aviation, textile and metals sectors, which are among those hardest-hit by slowing growth and sluggish policymaking that has deterred investment.

14.02 | 0 komentar | Read More

Restructure cheaper; no worry on fall in cash level: Ambuja

Forty-eight hours after Ambuja Cements announced restructuring of ownership by parent Holcim , the airwaves have been flooded with reactions and concerns from minority shareholders, investors, and analysts.

Ambuja Cements managing director, Onne Van Der Weijde, in an interview to CNBC-TV18, explains that a restructuring of operations is more cost-effective and offers more synergies than a full merger.

Weijde adds that deployment of cash does not deplete Ambuja's cash reserves significantly and would still allow for acquistions and expansion.

Below is the edited transcript of the interview on CNBC-TV18

Q: Let me start by asking you, if this was the structure that you had originally envisaged when you entered India and you acquired control over a period of time in two leading cement companies — ACC and Ambuja — was subsidiarisation the first step towards full consolidation?

A: No I don't think so. That was not part of our plans at that time. It was developed over time. But first I would like to explain what we are doing now. We want to create more value by going after synergies.

We have been working with Ambuja and I was previously the CFO of ACC . We have been working with both companies to achieve synergies, cost reductions, implement policies and set up governance structures. A lot has been already implemented. Earnings at Ambuja and ACC are under pressure due to impact on  the topline from poor growth in volumes and prices. So, we started to focus on measures to improve the bottomline.

Q: Can you explain why you did not find it appropriate to carry out a full merger at this point in time?

A: We have targeted two specific areas of synergies and I don't think a full merger is needed to achieve that.

Q: So is a merger still an option?

A: It is still an option that we will exercise after synergies in a majority of areas are achieved. Though a full merger may offer synergies, there is also a significant element of cost involved.

Q: Won't implementing synergies also take up a lot of time? In the newly-formed India management committee structure, the management of both ACC and Ambuja will have to work together along with representatives from parent Holcim to arrive at synergies. So why not conduct the merger and then arrive at synergies?

A: The synergies would result in benefits worth Rs 900 crore which is not a small amount.

Q: Wouldn't a merger offer increased benefits?

A: Yes, but a merger might turn out to be a distraction too. It is only after considerable evaluation of the options available that we decided to enable the synergies first.

I would also like to clarify the management structure you mentioned. There are completely two independent management teams and it is only in the targeted areas that the management of both companies will work together. And there will be no participation by representatives from Holcim.

Q: Did you get unanimous approval from the independent directors for this restructuring proposal?

A: Absolutely.

Q: And did your independent directors raise questions?

A: They raised a lot of questions and wanted a lot of explanations.

Q: Did any of your independent directors raise questions about the rationale for Ambuja Cements having to buyback 9.7 percent of its own equity owned by Holcim India?

A: They were some initial questions about whether it was necessary. But when I explained that it was basically a washout and was for historic reasons, they agreed. The shares that we are acquiring will be cancelled.

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Smart ways to deal with sudden lumpsum income

BankBazaar.com

Pavitra received Rs 3.5 lakh from the sale of a family property in her native place. She has a housing loan of Rs 30 Lakhs for which she is paying a monthly EMI of Rs 35,000. She has completed 2 years of the 7 years of the loan tenure. Pavitra is thinking about repaying a part of the loan with the entire inheritance amount, while her husband is of the opinion that they must invest a part of it for their children's education in mutual funds or equity shares.

Often, these complex decisions spring in front of us when confronted with a lump sum gain on one hand and a mortgage on the other. In case of a car loan or a personal loan, the choice is very clear - one must repay the loan as soon as possible as the interest is very high and the value of a loan investment only depreciates.

Besides, these loans do not have a long tenure as housing loans have.

Home Loan Outlook

In Pavitra's case, at a monthly interest of 10.5 percent, she ends up paying around Rs 3,15,000 annually only on the interest amount which works out to Rs 47,25,000 in 15 years, raising the cost of the house by over 50 percent.

If she uses her inheritance money to repay the loan, the number of instalments she has to pay will be reduced which implies that the total amount to be repaid will be reduced since the duration of the loan will come down from the remaining 5 years to just under 4 years

Comparative Analysis of Actual Savings and Growth of Corpus

How much benefit you accrue from investing on an alternate source depends on the type of investment you are making. In Pavitra's case, if instead of repaying the home loan, she would have invested the amount in purchasing a Blue Chip Fund or a child plan for her daughter's education, the returns cannot be forecasted.

However, if the blue chip fund returns after 3 years' investment were to give her a return of Rs 8 Lakhs then she would be able to pay off a bigger chunk of her debt and saved 2 years' instalments instead of 1 year.

Another scenario is where a person might also have a personal or a car loan. In such a case, it is best to pre-pay that loan first as the interest rate is higher in the shorter term.

A Case for Prepayment

The greatest advantage of pre-payment of a loan is that it significantly reduces the interest cost which will bring down the purchase price of the house by a large amount. So, even if you are considering reselling the property to purchase a bigger property in the future, you will be able to recover the cost faster and make better profits.

However, you must understand that you have already paid the loan processing charges for the entire tenure; so, if you are earning better returns elsewhere, then you can consider it so that you can utilise the returns to pay off a bigger portion of the loan.

Tax Rebate

Home loans attract a tax rebate under the Income Tax Act, so often individuals prefer to continue their loan for the entire duration. However, if you are paying an EMI of Rs 35,000 and your tax saving is Rs 1000; it does not appear to be a very big saving.

Besides, there are other tax saving avenues which are more beneficial. You could even invest in another property as real estate delivers the highest returns among all investment classes.

What are the Investment Avenues in Such Cases?

If you do not want to prepay your loan with the extra amount you have, then there are the following investment options:

• Equity: If you have a high risk appetite, then investing in equity can generate more returns than you would have saved from pre-paying the home loan.

• Real Estate: You can invest in another property. It would mean an additional loan, but if you can earn a rental income, then the loan will get repaid partly by the rental returns. Besides, you can sell one property to leverage the loan repayment for the other property.

• Provident Fund: PPF gives you a tax benefit for the entire Rs 1 Lakh you deposit in the account and attracts an interest of around 8 percent. You must ensure that you complete the entire deposit amount for the year before paying off the debt. This will also set up a savings corpus for the future.

You have to pay the EMI on your housing loan till it is completely repaid. The EMI and the interest rate amount also remain constant. On the other hand, the return on investment from equities fluctuates and from secured bank deposits, the interest rate is not as high as it is on the loan.

If you are nearing retirement, it is most likely you are close to the final installment of your home loan. If you repay your home loan earlier, you can concentrate on savings and investment for your post-retirement years

For those who are younger and still have a few years, do not compromise on your other financial responsibilities such as insurance premiums, child plans, savings corpus to pay off the home loan.

   
 

BankBazaar.com   is an online marketplace where you can instantly get the lowest loan rates , compare and apply online for your personal loan , home loan ,   car loan   and   credit card   from India's leading banks and NBFCs.

14.02 | 0 komentar | Read More

Indian shares await RBI decision, earnings

Indian shares are expected to falter, with banks remaining weak ahead of the Reserve Bank of India's (RBI) policy review on Tuesday.

The review comes after the RBI's decision to shore up short-term interest rates to defend the rupee has hit banks and other financial shares.

Also read: Guidance, in line results to boost Wipro stock: Experts

The RBI is expected to keep policy rates and the cash reserve ratio unchanged, with investors focused on its statement for cues about future action.

Bond yields and rupee movements will also be tracked as investors fear the RBI's measures to defend to currency will lead to higher borrowing costs and hurt economic growth.

Global share movements will also be important as the Federal Reserve is due to end its two-day meeting on July 31.

Blue chips such as IDFC Ltd , ICICI Bank and Dr.Reddy's Laboratories Ltd will also report quarterly results in the week ahead.

Key events to watch:

Monday:

Earnings: UltraTech Cement Ltd , Reliance Capital Ltd , IDFC

India's Foreign Investment Promotion Board to consider Jet Airways Ltd -Etihad deal

Tuesday:

Reserve Bank of India's policy review

Earnings: NTPC Ltd , Reliance Infrastructure Ltd , Dr.Reddy's Laboratories

Wednesday:

Earnings: United Spirits Ltd , ICICI Bank, Bharti Airtel Ltd

Thursday:

Earnings: Power Grid Corp of India Ltd , Reliance Communications, Idea Cellular Ltd , Bank of Baroda

Manufacturing PMI for July

Friday:

India's foreign reserves data

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Kokuyo Camlin: Outcome of rights issue committee meeting

Jul 27, 2013, 12.26 PM IST

The right issue committee of Kokuyo Camlin has finalized the right issue programme.

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Kokuyo Camlin: Outcome of rights issue committee meeting

The right issue committee of Kokuyo Camlin has finalized the right issue programme.

Like this story, share it with millions of investors on M3

Kokuyo Camlin: Outcome of rights issue committee meeting

The right issue committee of Kokuyo Camlin has finalized the right issue programme.

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Kokuyo Camlin Ltd has informed BSE regarding Outcome of the Rights Issue Committee Meeting held on July 26, 2013 - Intimation of Rights Issue opening and Closing dates". The right issue committee of Kokuyo Camlin has finalized the right issue programme.Source : BSE

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Singaporeans splurge on spicy Indian food

More and more non-Indians in Singapore are taking to the spicy Indian food, adding to the huge customer base of Indian restaurants. "Some of the leading Indian restaurants are reporting 90 per cent patronage by non-Indians, and others are 40 per cent," V Bimel Ram, Festival Director of the Indian Restaurants Association in Singapore (IRAS) said at the ongoing Food Festival being held July 19-28.

Singapore has about 350 Indian restaurants, according to IRAS. The festival is part of the ongoing Singapore Food Festival which promotes the city state as food paradise among Singaporeans and tourists. "Spices, food products and dishes of Indian-origin are being promoted at the festival," Ram told PTI.

"Most of the products, including wines, are imported from India," he added. This year, Singapore's 21 leading Indian restaurants are participating in the festival, some of whom have made Singapore Indian dishes globally famous such as the blended 'fish head' curry, and fusion of Indian, Chinese and Malay dishes.

Multi-national Singapore is a good platform to promote fusion food for Chinese and Malay tastes, said Ram last night at the festival's Indian wine promotion event. Some 70-80 per cent of Singaporeans, with all adults in the family working, eat at hawker centres, food courts, restaurants and other eatery places, according to Ram.

In fact, Singaporeans start eating food cooked by restaurants and hawkers from early age, starting from the school's tuck shops. Cooking food at home has become a major weekend family event in some Singapore households.

To promote home cooked food, the festival held a cooking contest, bringing together parents and their children to build bonds by trying out skills on woks and with laddles. "Singapore Indian restaurants are doing good businesses with a huge customer base," said R Narayanamohan, Chairman of the Singapore Indian Chamber of Commerce and Industry, which joined IRAS in organising the food festival.

14.03 | 0 komentar | Read More

Inventories in place; see revival Q2 onwards: Raymond

Textiles manufacturer Raymond Ltd yesterday posted its first quarter results. The company saw its net loss widen to Rs 49.68 crore in the quarter ended June 30.

M Shivkumar, CFO of  Raymond says Rs 8 crore provision towards forex cover on an unexecuted export contract, which will get reversed in the next quarter on contract execution, had an impact on the bottomline this quarter. He expects volumes to improve in the second quarter. "Decline in official performance has bottomed out and we will be heading northwards from now onwards in the apparel segment," he told CNBC-TV18.

There has been a drop in the tools and hardware segment as the company is entering into price sensitive markets, particularly in Latin America and the African continent, he says. The inventory situation in the apparel segment has corrected adequately, he adds.

Also Read: Raymond Q1 net loss widens to Rs 49.68 cr

Below is the verbatim transcript of M Shivkumar's interview on CNBC-TV18

Q: Your suiting and fabric business did okay but the pressure is seen in the apparel business, what is going wrong there?

A: As a standalone entity where Raymond Textile is there, we grew by 15 percent with a significant reduction in loss at the profit before tax (PBT) level. The topline was higher by 4 percent while loss is down by 10 percent. One of the important thing is this is largely due to provisioning of Rs 8 crore towards forex cover on unexecuted export contract, which will get reversed in the next quarter on contract execution.

What happens is Raymond always follows the path of hedging its exposure and we are a net earner of foreign currency. So this is a temporary phenomenon of Rs 8 crore, which we had to provide to follow the accounting standards - should we exclude this component - then there is a healthy growth of 12 percent in EBITDA and the profit after tax (PAT) level, there has been a significant decrease in the recognition of deferred tax assets over the corresponding period, hence the losses widened.

If you look at each of the segment, textile segment grew by 13 percent largely led by exports, Combo pack and the Makers brand. The sales growth in the retail outlet or The Raymond Shop (TRS) network was seen at 9 percent while the overall growth was placed at 15 percent. Domestic segment of the fabric business barring Makers and Combo pack remained at the same level as that of last year as there has been a concentrated effort to increase exports.

In the apparel segment, we are aware of the problem. Our efforts to consolidate operations continued for most of these quarters including frontend sales and distribution setup, right sizing of man power, healthy channel management with right sizing of inventory, outsourcing of in-house manufacturing activities, which we were carrying out and including the IT infrastructure.

In the distribution channel in the apparel business, the exclusive brand outlet and large format stores (LFS) registered 18 percent growth in the secondary sales outlet while underperformance was noticeable in the trade channel led by multi-brand outlets (MBO) and TRS.

Volume offtake is likely to improve in Q2. It will not be unreasonable to conclude that our decline in official performance has bottomed out and we will be heading northwards from now onwards in the apparel segment.

As far as garmenting segment is concerned, our business growth was led by exports and we held on to our profitability level. Engineering segment, there is auto segment which is affected by the automobile sector though we held on to the same levels as of last year. The tools and hardware segment, there has been a key drop because we are entering into the price sensitive market particularly in Latin America and African continent.

Our denim and shirting business improved. We continue to pursue our real estate activity.

Q: Are you confident of setting out a year-end sales target also for margins and whether your inventory situation has been corrected adequately?

A: The inventory situation in the apparel segment has corrected adequately. We have now built up inventories for the season with respect to other businesses also. So we expect better performance from Q2 onwards.

14.03 | 0 komentar | Read More

Drug pricing policy issue hurting sector's growth: Biocon

Biotechnology major Biocon which today posted a strong first quarter earnings raised concerns about confusion in India's drug pricing policy, which has impacted the growth of pharma-biotech sector.

"We are still seeing very challenging environmental condition in India especially around regulatory aspects of the pharma-biotech sector. We hope that the government will really address this with the sense of urgency," Kiran Mazumdar Shaw, CMD, Biocon said in a earnings press conference.

She alleged that due to confusion in pricing policies stockists have been reluctant to take stock on hand until the pricing issues are resolved. She added that although clinical trials are resuming now, India needed a regulatory robustness. "We don't want more layers being put in to approvals but have expertise and the knowledge with which to approve clinical trials expeditiously," she stressed.

The company reported 18.65 percent rise in consolidated net profit at Rs 93.50 for the first quarter on account of strong performance in the biopharma segment. Consolidated revenue rose to Rs 723 crore from Rs 594 crore in a year ago quarter. 

Mazumdar said that Q1 result reflect the company's inherent strength in product portfolio. She expects insulin to be the strong growth driver in current fiscal. The company will launch its second novel biologic drug Alzumab used in psoriasis treatment in August. "We are now of course looking at taking this molecule global and we are in discussion with several companies that are very keen to partner this program in our global development plan," she said.

Below is the verbatim transcript of the interview

Q: I heard you mention at your press conference that you are seeing some challenges in the India business because of the pricing pressure etc, what kind of a pressure are you expecting to see going ahead and what could the growth slip to?

A: I do not think I am referring to pricing pressures. I am talking about pricing policy issues because basically the industry itself has had a steady decline in terms of growth. Quarter-on-quarter (Q-o-Q) for the last five quarters largely because there has been uncertainty and lack of clarity around the drug pricing policy. So now that has been sort of fairly addressed hopefully now all the questions are answered and the sector will start correcting because I think as far as Biocon is concerned, we haven't had a major hit out of all these price control issues. So we have had a very nominal kind of impact on all our products.

This has created a lot of market uncertainty in terms of pharmacists and stockists of product and about labeling of pricing on products and whether we need to sort of wait till we get the prices ascertained and things like that. So those kind of issues, an unnecessary issues including things like the knee-jerk reaction to the Pioglitazone issue where the government suddenly banned it and now they are planning to revoke the ban.

This does not augur well for the sector. So these are the kind of issues, which are more external in nature. It is not about competitive pricing pressure. There we are very clear that Biocon has done extremely well because we have such a differentiated portfolio and we have done extremely well and that is where we have seen improved margins as reflected in this quarter's earnings.

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Nifty hovers around 5900; PNB at 4-year low on poor Q1 NPA

12:27

Moneycontrol Bureau
Live Market Commentary
The market is completely listless in noon trade today with the Nifty hovering around the 5900 level. Public sector lender Punjab National Bank (PNB) disappointed the street with the non-performing asset rising further during April-June quarter, though the net profit increased higher-than-expected 2.3 percent year-on-year to Rs 1,275 crore.

Gross non-performing asset (NPA) jumped 57 bps quarter-on-quarter (up 1.5 percent Y-o-Y) to 4.84 percent while net NPA increased 63 bps Q-o-Q (up 1.3 percent Y-o-Y) to 2.98 percent during June quarter. Gross NPA of the state-owned lender surged 12 percent Q-o-Q to Rs 15,090 crore and net NPA soared 25 percent Q-o-Q to Rs 9,060 crore in first quarter of FY14. The stock slumps 6%. The stock touched a 4-year low of Rs 585.95, which fell more than 5 percent.

The BSE Sensex is down 20.97 points at 19783.79, and the Nifty is down 10.40 points at 5897.10. The broader markets declined 0.4-0.8 percent as declining shares outnumbered advancing ones by 1158 to 757 on the BSE.

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ACC Ltd's Q1 PAT may decline 40% on higher expense: Poll

ACC Ltd is expected to post around 40 percent year-on-year drop in profit in June quarter on higher depreciation and freight cost, states CNBC-TV18 poll. The cement firm had posted Rs 414 crore profit in corresponding quarter of last year.

Sales could also decline over 4 percent to Rs 2800 crore as demand remained weak in most markets  Analysts also expect EBITDA margins to shrink around 800 bps to Rs 14.5 percent.

Read This: Ambuja Cements, ACC down after Holcim tweaks stakes

Factors likely to impact ACC 's numbers

-Volumes may be flattish on weak demand

-Despatches growth will almost be flattish and may grow hardly a percent Y-o-Y.

-Average realisations are likely to decline 5-6 percent Y-o-Y

-Feedback from cement dealers suggests that in 1Q FY14, pan-India cement prices were down around 6 percent Y-o-Y 

-Prices were weak in most other parts of the country

-Prices in south market gained (q-o-q) in Q2CY13 but extremely weak demand will hit topline.

-ACC has the highest exposure to east and central India.

-Demand is likely weakest in north India, while east and central India was relatively better.

Incase net profit comes in much lower:
Watch out for any "Provisioning for Competition Commission of India (CCI) penalty":
COMPAT served an interim order directing cement companies to deposit 10% of the total penalty levied by the CCI
ACC's penalty amount was Rs. 1148 crore and hence 10 percent will be around Rs.114.7crore

Key issues to watch out
-Volume growth recovery and outlook
-Cement pricing outlook, considering volatility in 2QCY13
-Progress in ongoing capex for 5MT Jamul expansion
-Any Commentary with regard to merger of the cement twins

 

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Ambuja Cements has support at Rs 125-130: Sudarshan Sukhani

Jul 25, 2013, 12.26 PM IST

Sudarshan Sukhani of s2analytics.com is of the opinion that one may see support for Ambuja Cements at around Rs 125-130.

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Ambuja Cements has support at Rs 125-130: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the opinion that one may see support for Ambuja Cements at around Rs 125-130.

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Ambuja Cements has support at Rs 125-130: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the opinion that one may see support for Ambuja Cements at around Rs 125-130.

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Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Ambuja Cements ' chart looks disastrous. After today's decline its next place of support is about Rs 125-130 which seems likely. So there is no sense in holding on."

"Cement has begun correction. When this correction is over then the buying opportunities will come in Ultratech Cement , perhaps not in ACC and Ambuja," he said.

Also Read: Ambuja Cements, ACC down after Holcim tweaks stakes

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Hero MotoCorp gains on Q1 margins; Macquarie upgrades

Jul 25, 2013, 12.30 PM IST

Hero reported a net profit of 5.49 billion rupees for the three months to end-June, compared with 6.15 billion rupees a year earlier. Net sales fell to 61.27 billion rupees from 62.47 billion rupees.

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Hero MotoCorp gains on Q1 margins; Macquarie upgrades

Hero reported a net profit of 5.49 billion rupees for the three months to end-June, compared with 6.15 billion rupees a year earlier. Net sales fell to 61.27 billion rupees from 62.47 billion rupees.

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Hero MotoCorp gains on Q1 margins; Macquarie upgrades

Hero reported a net profit of 5.49 billion rupees for the three months to end-June, compared with 6.15 billion rupees a year earlier. Net sales fell to 61.27 billion rupees from 62.47 billion rupees.

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Shares in Hero MotoCorp Ltd gain 4.4 percent after its adjusted operating margins for June-quarter came in at 14.85 percent, higher than estimates of about 13 percent, analysts say.

Hero reported a net profit of Rs 549 crore for the three months to end-June, compared with Rs 6.15 crore a year earlier. Net sales fell to 61.27 billion rupees from 62.47 billion rupees.

"Operating profit is appearing substantially higher than expectation as the company has not taken the full impact of increase in raw material cost given company compensates its vendors with a lag of a quarter," said Abhishek Gaoshinde, an analyst tracking the sector at Sunidhi Securities.

Also, Macquarie upgrades the stock to "outperform" from "underperform" and raises its target price to Rs 1,960 from Rs 1,250, citing attractive valuations.

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Panasonic Energ standalone Jun '13 sales at Rs 51.19 crore

Jul 24, 2013, 12.28 PM IST

Panasonic Energy India Company has reported a sales standalone turnover of Rs 51.19 crore and a net profit of Rs 0.66 crore for the quarter ended Jun '13

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Panasonic Energ standalone Jun '13 sales at Rs 51.19 crore

Panasonic Energy India Company has reported a sales standalone turnover of Rs 51.19 crore and a net profit of Rs 0.66 crore for the quarter ended Jun '13

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Panasonic Energ standalone Jun '13 sales at Rs 51.19 crore

Panasonic Energy India Company has reported a sales standalone turnover of Rs 51.19 crore and a net profit of Rs 0.66 crore for the quarter ended Jun '13

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Panasonic Energy India Company has reported a standalone sales turnover of Rs 51.19 crore and a net profit of Rs 0.66 crore for the quarter ended Jun '13. Other income for the quarter was Rs 0.23 crore. For the quarter ended Jun 2012 the standalone sales turnover was Rs 49.51 crore and net profit was Rs 0.33 crore, and other income Rs 0.31 crore. Panasonic Energ shares closed at 42.15 on July 23, 2013 (BSE) and has given -14.24% returns over the last 6 months and -17.35% over the last 12 months.

Panasonic Energy India Company Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 51.19 47.01 59.65 Other Income 0.23 0.67 0.32 Total Income 51.42 47.68 59.97 Total Expenses 49.58 46.13 57.47 Operating Profit 1.61 0.88 2.18 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 1.84 1.55 2.50 Interest 0.02 0.03 -- PBDT 1.82 1.52 2.50 Depreciation 0.74 0.80 0.78 Depreciation On Revaluation Of Assets -- -- -- PBT 1.08 0.72 1.72 Tax 0.42 0.28 0.56 Net Profit 0.66 0.44 1.16 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 0.88 0.59 1.55 Book Value -- -- -- Equity 7.50 7.50 7.50 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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Mahindra Forg standalone Jun '13 sales at Rs 103.50 crore

Jul 24, 2013, 12.28 PM IST

Mahindra Forgings has reported a sales standalone turnover of Rs 103.50 crore and a net profit of Rs 5.56 crore for the quarter ended Jun '13

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Mahindra Forg standalone Jun '13 sales at Rs 103.50 crore

Mahindra Forgings has reported a sales standalone turnover of Rs 103.50 crore and a net profit of Rs 5.56 crore for the quarter ended Jun '13

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Mahindra Forg standalone Jun '13 sales at Rs 103.50 crore

Mahindra Forgings has reported a sales standalone turnover of Rs 103.50 crore and a net profit of Rs 5.56 crore for the quarter ended Jun '13

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Mahindra Forgings has reported a standalone sales turnover of Rs 103.50 crore and a net profit of Rs 5.56 crore for the quarter ended Jun '13. Other income for the quarter was Rs 1.32 crore. For the quarter ended Jun 2012 the standalone sales turnover was Rs 105.00 crore and net profit was Rs 4.53 crore, and other income Rs 0.99 crore. Mahindra Forg shares closed at 65.05 on July 23, 2013 (NSE) and has given 31.02% returns over the last 6 months and 16.79% over the last 12 months.

Mahindra Forgings Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 103.50 109.47 108.86 Other Income 1.32 0.67 1.45 Total Income 104.82 110.15 110.30 Total Expenses 89.36 89.54 91.28 Operating Profit 14.14 19.93 17.58 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses -- -- -- Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 15.46 20.60 19.03 Interest 0.02 1.28 1.07 PBDT 15.44 19.31 17.95 Depreciation 7.05 7.02 6.96 Depreciation On Revaluation Of Assets -- -- -- PBT 8.39 12.29 10.99 Tax 2.83 -3.33 -- Net Profit 5.56 15.62 10.99 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 0.60 1.70 1.19 Book Value -- -- -- Equity 92.17 92.17 92.17 Reserves -- -- -- Face Value 10.00 10.00 10.00 Source : Dion Global Solutions Limited

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Modern India standalone Jun '13 sales at Rs 70.09 crore

Jul 24, 2013, 12.28 PM IST

Modern India has reported a sales standalone turnover of Rs 70.09 crore and a net profit of Rs 0.98 crore for the quarter ended Jun '13

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Modern India standalone Jun '13 sales at Rs 70.09 crore

Modern India has reported a sales standalone turnover of Rs 70.09 crore and a net profit of Rs 0.98 crore for the quarter ended Jun '13

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Modern India standalone Jun '13 sales at Rs 70.09 crore

Modern India has reported a sales standalone turnover of Rs 70.09 crore and a net profit of Rs 0.98 crore for the quarter ended Jun '13

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Modern India has reported a standalone sales turnover of Rs 70.09 crore and a net profit of Rs 0.98 crore for the quarter ended Jun '13. Other income for the quarter was Rs 1.69 crore. For the quarter ended Jun 2012 the standalone sales turnover was Rs 97.53 crore and net profit was Rs 1.35 crore, and other income Rs 1.56 crore. Modern India shares closed at 42.00 on July 23, 2013 (BSE) and has given -8.89% returns over the last 6 months and 55.56% over the last 12 months.

Modern India Standalone Quarterly Results -------- in Rs. Cr. --------

Jun '13 Mar '13 Dec '12 Sales Turnover 70.09 110.89 99.78 Other Income 1.69 1.79 1.86 Total Income 71.78 112.68 101.64 Total Expenses 69.92 110.59 98.03 Operating Profit 0.17 0.30 1.75 Profit On Sale Of Assets -- -- -- Profit On Sale Of Investments -- -- -- Gain/Loss On Foreign Exchange -- -- -- VRS Adjustment -- -- -- Other Extraordinary Income/Expenses -- -- -- Total Extraordinary Income/Expenses 1.28 -- -1.63 Tax On Extraordinary Items -- -- -- Net Extra Ordinary Income/Expenses -- -- -- Gross Profit 1.86 2.09 3.61 Interest 0.75 0.68 0.51 PBDT 2.40 1.41 1.47 Depreciation 0.37 0.40 0.41 Depreciation On Revaluation Of Assets -- -- -- PBT 2.03 1.01 1.06 Tax 1.05 0.12 -0.69 Net Profit 0.98 0.89 1.75 Prior Years Income/Expenses -- -- -- Depreciation for Previous Years Written Back/ Provided -- -- -- Dividend -- -- -- Dividend Tax -- -- -- Dividend (%) -- -- -- Earnings Per Share 0.26 0.24 0.47 Book Value -- -- -- Equity 7.51 7.51 7.51 Reserves -- -- -- Face Value 2.00 2.00 2.00 Source : Dion Global Solutions Limited

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