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Indian Bank to revise interest rates on FCNR (B) deposits

Written By Unknown on Minggu, 31 Agustus 2014 | 14.03

"For FCNR (B) deposits, in USD, the revised interest rate has been revised to 2.34 percent (from 2.36) for deposits of one year and above but less than two years", the Chennai-based bank said in a statement

Public sector  Indian Bank will revise its interest rates on the foreign currency non-resident (banking) term deposits from tomorrow.

"For FCNR (B) deposits, in USD, the revised interest rate has been revised to 2.34 percent (from 2.36) for deposits of one year and above but less than two years", the Chennai-based bank said in a statement.

For deposits of two years and above but less than three years, interest rates have been revised to 2.71 percent from the existing 2.76 percent. Interest rates have been revised to 3.64 percent for deposits of three years and above but less than four years from the existing 3.71 percent, it said.

For deposits of four years and above but less than five years, interest rates have been revised to 4 percent from existing 4.11 percent. Interest rates have been fixed at 4.27 percent for deposits upto five years only from the existing 4.40 percent, the statement said.

Indian Bank stock price

On August 22, 2014, Indian Bank closed at Rs 136.65, down Rs 7.2, or 5.01 percent. The 52-week high of the share was Rs 198.90 and the 52-week low was Rs 60.50.


The company's trailing 12-month (TTM) EPS was at Rs 22.56 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 6.06. The latest book value of the company is Rs 298.40 per share. At current value, the price-to-book value of the company is 0.46.


14.03 | 0 komentar | Read More

India, Japan sign MoU to develop Varanasi into 'smart city'

A Partner City MoU was signed by Indian Ambassador Deepa Wadhwa and Kyoto Mayor Daisaka Kadokawa at a ceremony witnessed by Modi and his Japanese counterpart Shinzo Abe.

Varanasi, which Prime Minister Narendra Modi represents in the Lok Sabha, will be developed into a 'smart city' by using the experience of Kyoto, the 'smart city' of Japan, under a pact signed here today.

A Partner City MoU was signed by Indian Ambassador Deepa Wadhwa and Kyoto Mayor Daisaka Kadokawa at a ceremony witnessed by Modi and his Japanese counterpart Shinzo Abe.

The MoU, which was signed soon after Modi's arrival here on a five-day visit, provides for cooperation in heritage conservation, city modernisation and cooperation in the fields of art, culture and academics, External Affairs Ministry spokesman Syed Akbaruddin told reporters.

This will serve as framework for Smart heritage city programme between the two countries, he added. Kyoto, which is a heritage city with Buddhist culture, provides special symbolism to the visit as the Prime Minister has the vision of "rejuvenating" Indian cities.


14.03 | 0 komentar | Read More

India nears $2.5 bn deal for Boeing military helicopters

India has decided to acquire Boeing's Chinook and Apache helicopters, a defence ministry official said on Saturday, in a deal valued at USD 2.5 billion that could ease strained ties between New Delhi and Washington.

The new nationalist-led government of Prime Minister Narendra Modi has grand plans to vastly strengthen India's military capability, in order to play its role as a regional power and meet challenges posed by a rising China and arch rival Pakistan.

"The defence aquisition council has cleared the last hurdle for signing of the contract with the USA in respect of Apache and Chinook," the official told Reuters, while declining to be named as he was not authorised to speak to media.

The deal topped the agenda during a visit by US Defence Secretary Chuck Hagel in August and is likely to help mend ties frayed by years of trade and diplomatic disputes. Modi is due to visit the United States next month.

At a meeting on Friday, the government also approved the Indian Navy's proposal to purchase 16 multi-role helicopters, the official said. The deal could potentially benefit Sikorsky Aircraft, a unit of United Technologies Corp and European joint venture NHIndustries.

Jaitley, however, cancelled a USD 991.65 million tender to buy 197 light-utility helicopters from foreign vendors and asked local manufacturers to produce them at home, the official said .

Eurocopter, a unit of aerospace and defense company EADS, and Russian Kamov had been participating in the tender.

The government also deferred a decision on a USD 2.5 billion proposal to acquire Israeli Spike anti-tank guided missiles.

Analysts estimate that India, the world's largest arms importer, will spend USD 250 billion in the next decade to upgrade its Soviet-era military equipment and narrow the gap with China, which spends USD 120 billion a year on defence.

India's military modernization plan includes a renewed push to develop a domestic weapons industry. India insists on "offsets" from foreign vendors to ensure technology is transferred or some of the deal's value remains in the country.

The decision to scrap the troubled light helicopter tender comes weeks after Modi loosened the limit on foreign ownership in defence manufacturing to 49 percent from 26 percent to make "buy Indian" the default option for defence purchases.

"It has also been decided that the Indian Industry would be given the responsibility to produce nearly 400 Light Utility Helicopters (LUH) as per the requirement of the Indian Army and Air Force," said the official.

A slew of kickback allegations, procurement delays and a recent spate of operational accidents have marred efforts to upgrade India's armed forces.

A decision on the acquisition of light reconnaissance helicopters was deferred last year and tenders re-examined after Italian prosecutors alleged defence group Finmeccanica had paid bribes to Indian officials to win a separate $750 million deal to supply luxury helicopters for political VIPs.

New Delhi partially banned Finmeccanica this week from bidding for future contracts. Finmeccanica denies any wrongdoing.

Finmeccanica's AgustaWestland unit has a 32 percent stake in NHIndustries, which is 62.5 percent owned by EADS' helicopter unit Eurocopter, and Stork Fokker owns 5.5 percent.


14.03 | 0 komentar | Read More

Adhunik Metaliks' audit committee board meeting adjourned to August 30, 2014

Written By Unknown on Sabtu, 30 Agustus 2014 | 14.03

Adhunik Metaliks has informed that in view of sudden health problem of managing director of the company, the audit committee meeting as well as the meeting of the board of directors of the company were adjourned immediately after commencement to the next day i.e. August 30, 2014.

With reference to earlier announcement dated August 19, 2014, regarding Board to consider Dividend on August 29, 2014, Adhunik Metaliks Ltd has now informed BSE that in view of sudden health problem of Managing Director of the Company, the Audit Committee Meeting as well as the Meeting of the Board of Directors of the Company were adjourned immediately after commencement to the next day i.e. August 30, 2014.Source : BSE

Read all announcements in Adhunik Metalik


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Kaushalya Infrastructure: Outcome of board meeting

Kaushalya Infrastructure Development Corporation at its meeting held on August 29, 2014 have considered and approved the appointment of Mr. Prashant Mehra as chief executive officer and as key managerial personnel pursuant to the provisions of Section 203 of the Companies Act, 2013.

Kaushalya Infrastructure Development Corporation Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 29, 2014, inter alia, have considered and approved the following businesses :1. Appointment of Mr. Prashant Mehra as Chief Executive Officer and as Key Managerial Personnel pursuant to the provisions of Section 203 of the Companies Act, 2013.2. Appointment Mr. Tarkeshwar Singh, as Company Secretary and as Key Managerial Personnel pursuant to the provisions of Section 203 of the Companies Act, 2013.3. Appointment of Mr. Tarak Nath Mishra as Chief Financial Officer and Key Managerial Personnel pursuant to provision of Section 203 of the Companies Act, 2013 with effect from August 29, 2014.4. Approved Directors Report for the year ended March 31, 2014.Source : BSE

Read all announcements in Kaushalya Infra


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Citurgia Biochemicals: Outcome of board meeting

Citurgia Biochemicals has informed that Ms. Eti Vashist has resigned from the post of company secretary of the company w.e.f. August 2, 2014. The resignation of Ms. Eti Vashist has been approved by the board of directors of the company at their meeting held on August 1, 2014.

Citurgia Biochemicals Ltd has informed BSE that Ms. Eti Vashist has resigned from the post of Company Secretary of the Company w.e.f. August 02, 2014. The resignation of Ms. Eti Vashist has been approved by the Board of Directors of the Company at their meeting held on August 01, 2014.Source : BSE

Read all announcements in Citurgia Bioche


14.03 | 0 komentar | Read More

Buy Indraprastha Gas 380 Call: VK Sharma

Written By Unknown on Kamis, 28 Agustus 2014 | 14.03

According to VK Sharma of HDFC Securities, one may buy Indraprastha Gas 380 Call.

VK Sharma of HDFC Securities told CNBC-TV18, "In  Indraprastha Gas (IGL) I am suggesting buying 380 Call and all what I am suggesting is for September buy the 380 at around Rs 10, stoploss at Rs 7 and hope to sell this minimum at around Rs 18."

At 12:06 hrs Indraprastha Gas was quoting at Rs 380.95, up Rs 6.50, or 1.74 percent.

The share touched its 52-week high Rs 393.70 and 52-week low Rs 236 on 04 August, 2014 and 28 August, 2013, respectively.


14.03 | 0 komentar | Read More

Tata Motors DVR good bet, prefer Ashok Leyland: VK Sharma

VK Sharma of HDFC Securities is of the view that Tata Motors DVR is a good bet and feels that one may prefer Ashok Leyland.

VK Sharma of HDFC Securities told CNBC-TV18, "In the auto sector one thing is very clear that the truck manufacturers are going to move ahead and Ashok Leyland  is a much better play. Tata Motors (DVR)  is still a good bet. Historically it has quoted at a premium to the main frontline stocks also. Hope that the discount could reduce, so Tata Motors DVR is a good bet for the current series."

At 12:18 hrs Tata Motors (DVR) was quoting at Rs 380.50, up Rs 8.80, or 2.37 percent. It has touched a 52-week high of Rs 382.45.


14.03 | 0 komentar | Read More

Minimum Rs 1K pension under EPFO; wage ceiling up at Rs 15K

The move to enhance the minimum wage ceiling for becoming a subscriber of Employees' Provident Fund Organisation to Rs 15,000 per month is expected to bring 50 lakh additional formal sector workers under the ambit of the body.

The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.

The government's decision to fix pension entitlement of Rs 1,000 under the Employees' Pension Scheme 1995 (EPFS-95) will immediately benefit 28 lakh pensioners who get less than this amount at present.

The move to enhance the minimum wage ceiling for becoming a subscriber of Employees' Provident Fund Organisation to Rs 15,000 per month is expected to bring 50 lakh additional formal sector workers under the ambit of the body.

"The government has notified enhancement of wage ceiling to Rs 15,000 per month, fixed minimum monthly pension at Rs 1,000 under EPS-95 and enhanced the maximum sum assured under the Employees' Deposit Linked Insurance (EDLI) Scheme to Rs three lakh," EPFO's Central Provident Fund Commission K K Jalan told PTI.

Jalan said: "Now the maximum sum assured under the EDLI works out to be Rs 3.6 lakh including 20 percent ad hoc benefit over the prescribed amount under the notification." This means that in case an EPFO subscriber dies, his family will be entitled to maximum sum assured of Rs 3.6 lakh instead of existing Rs 1.56 lakh.

Also read:  Why choose life insurance over investment options

Jalan said the notification regarding minimum pension, wage ceiling and EDLI would be effected from September 1. Thus all pensioners getting less than Rs 1,000 per month would get at least this much pension from October.

The decision to provide the entitlement under EPS-95 was taken by the Union Cabinet in its meeting held on February 28. But it could not be implemented earlier because the model code of conduct came into force after the general election dates were announced on March 5.

The decision will immediately benefit about 28 lakh pensioners, including 5 lakh widows. In all, there are 44 lakh pensioners under the EPFO scheme.

The EPFO's apex decision making body the Central Board of Trustees (CBT) had met on February 5 and decided to amend the EPS-95 scheme for the purpose.


14.03 | 0 komentar | Read More

Hold Shree Cements; target of Rs 8103: Sharekhan

Written By Unknown on Rabu, 27 Agustus 2014 | 14.02

Sharekhan has recommended hold rating on Shree Cements with a target of Rs 8103, in its research report dated August 26, 2014.

Sharekhan`s research report on Shree Cements

"Shree Cement's revenues for Q4FY2014 rose by 14.4% on account of higher cement revenues (cement volume and realisation up 17.4% and 11.2% YoY respectively). The power division continues to lag (power volume and realisation declined by 37.3% and 13.4% YoY respectively). However, the company reported a decline of 2.5% in its net profit for Q4FY2014 on account of a lower other income (down 38.8% YoY) and a higher depreciation charge (up 15.5% YoY). The operating performance of the power segment (which reported negative EBIDTA per unit) remains under pressure due to rising costs and lower realisation. However, the performance of the cement segment has improved YoY with the EBIDTA per tonne of the segment improving by 14% YoY to Rs1,185."

"We have marginally revised our earnings estimates for FY2015 and FY2016 upwards to factor in the strong volume growth in Q4 and expectations of a pick-up in demand going forward. Consequently, we have revised our price target upwards to Rs8,103 but in view of the sharp run-up in the stock since our last upgrade note on May 30, 2014 and the limited upside from the current level, we downgrade the stock to Hold. At the current price the stock is trading at 12.2x EV/EBIDTA and PE of 20.8x for FY2016 estimates," says Sharekhan research report. 

For all recommendations, click here  

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.  

To read the full report click here


14.02 | 0 komentar | Read More

Hold Sun TV Network; target of Rs 425: Sharekhan

Sharekhan has recommended hold rating on Sun TV Network with a target of Rs 425, in its research report dated August 26, 2014.

Sharekhan`s research report on Sun TV Network

"Operational and execution constraints have led to the inevitable extension of the DAS timeline. The information and broadcasting ministry has announced that the government has decided to extend the deadline for digitisation by one year where Phase 3 deadline has been extended to December 2015 (from September 2014 earlier) and phase 4 deadline has been extended to December 2016 (from December 2014 earlier). The move was anticipated as many issues pertaining to revenue sharing (between MSOs and LCOs) and gross billings still need to be resolved. Also, the government's thrust on increasing the domestic procurement of set-top boxes was one of the key reasons for the extension. Though clarity on the timeline removes the ambiguity on the DAS deadline, but it will also have an impact on the revenue accretion expected from the subscription business of broadcasters and the subscriber additions of direct-to-home service providers and MSOs."

"In the post-Q1FY2015 results conference call, the management indicated the benefits of the third and fourth phases of the digitisation process would have a full impact on the revenues in FY2017 and the subscription revenues would touch Rs1,500-2,000 crore by then. However, with the extension of the digitisation timeline, we believe revenue accretion will now be shifted to FY2018. Further on the advertisement front, the management expects softness in FY2015 and a gradual improvement in FY2016 which will affect the overall earnings of Sun TV. Though Sun TV is among the prime beneficiaries of the digitisation theme, but on account of a delay in the implementation of phases 3 and 4 of digitisation the revenue accretion process will take longer than expected. We have tweaked our earnings estimates for FY2015 and FY2016 to incorporate the lower than expected subscription revenues. In the last one month, the stock has corrected by 12% and we do not see any major re-rating or earnings trigger for the stock in the medium term. Thus, owing to the extension of the timeline of the digitisation process, soft earnings growth and the overhang of the CBI case on the promoter group, we downgrade Sun TV from Buy to Hold with a revised price target of Rs425,"says Sharekhan research report.  

For all recommendations, click here  

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.

To read the full report click here


14.02 | 0 komentar | Read More

Buy India Cements, Titan Company, Divis Labs: Vishal Malkan

Vishal Malkan of malkansview.com recommends buying Divis Laboratories with a target of Rs 1625 and Titan Company with a target of Rs 395.

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

One can pick Tata Chemicals . It has been trading above the resistance of Rs 370, since last one full week building momentum on daily as well as weekly charts.

One can pick India Cements . After making a high of Rs 118, it has retraced to an important support of Rs 108-109 forming bullish patterns on intraday charts. Hence I recommend a buy with a stoploss of Rs 105 for targets of Rs 115.

One can pick Titan Company . After a sharp move last week it has been consolidating in the last couple of trading sessions. Still the momentum is into the bullish zone. Hence I recommend a buy with a stoploss of Rs 355 for targets of Rs 395.

One can pick Divis Laboratories  which I am carrying from yesterday. All pharmaceutical stocks have been performing in the last couple of weeks. Divis Laboratories is making a new high, higher top and higher bottom. Hence I recommend a buy with a stoploss of Rs 1,560 and targets of Rs 1,625.


14.02 | 0 komentar | Read More

ZF Steering Gear: Updates on outcome of AGM

Written By Unknown on Selasa, 26 Agustus 2014 | 14.03

ZF Steering Gear India Ltd has informed BSE regarding Minutes of 34th Annual General Meeting of the Members of the Company which was held on July 30, 2014.

ZF Steering Gear India Ltd has informed BSE regarding Minutes of 34th Annual General Meeting of the Members of the Company which was held on July 30, 2014.Source : BSE

Read all announcements in ZF Steering Gea

To read the full report click here


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TTK Healthcare: Updates on changes in board

TTK Healthcare Ltd has informed BSE regarding the changes in the Board of the Company approved by the Shareholders at the 56th Annual General Meeting held on August 22, 2014.

TTK Healthcare Ltd has informed BSE regarding the changes in the Board of the Company approved by the Shareholders at the 56th Annual General Meeting held on August 22, 2014.Source : BSE

Read all announcements in TTK Healthcare

To read the full report click here


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Buy Kopran, JP Asso, Wockhardt, Amtek India: Vishal Jajoo

Vishal Jajoo of Nirmal Bang Securities recommends buying Amtek India with a target of Rs 101 and Wockhardt with a target of Rs 748.

In CNBC-TV18's popular show Bull's Eye, Vishal Jajoo of Nirmal Bang Securities shares his trading strategies for the day.

One can buy Kopran  with a target price of Rs 65.50 and stoploss of Rs 59.50.

One can buy Jaiprakash Associates  with a target price of Rs 55.75 and stoploss of Rs 50.80.

One can buy Wockhardt  with a target price of Rs 748 and stoploss of Rs 695.

One can buy Amtek India  with a target price of Rs 101 and stoploss of Rs 96.10.


14.03 | 0 komentar | Read More

Karur Vysya Bank's director M. G. S. Ramesh Babu resigns

Written By Unknown on Senin, 25 Agustus 2014 | 14.02

Karur Vysya Bank Ltd has informed BSE that Shri M. G. S. Ramesh Babu, demitted office of directorship on August 23, 2014 consequent to completion of tenure in the Banking Regulation Act, 1949.

Karur Vysya Bank Ltd has informed BSE that Shri M. G. S. Ramesh Babu, demitted office of directorship on August 23, 2014 consequent to completion of tenure in the Banking Regulation Act, 1949.Source : BSE

Read all announcements in Karur Vysya


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Sensex surges 200 pts; SBI, Arvind most active shares

12:12

Moneycontrol Bureau Equity benchmarks remained strong with the Sensex and Nifty trading at all-time high. The Sensex jumped 197.75 points or 0.75 percent to 26617.30 and the Nifty rallied 47.30 points or 0.60 percent to 7960.50.

Advancing shares outnumbered declining ones by a ratio of 1513 to 1080 on the Bombay Stock Exchange.
 
State Bank of India, Arvind, Sun Pharma Advanced Research, Tata Sponge, Wockhardt, TCS, ONGC and ICICI Bank were most active shares.

BHEL, TCS, Kotak Mahindra Bank, SBI, IndusInd Bank, HDFC and ONGC spiked 1.6-2.7 percent while Jindal Steel, Hindalco Industries, Tata Power, United Spirits and GAIL declined 1-2.7 percent.

Ranbaxy Labs gained nearly a percent after UBS maitians a buy on the stock and raised target price to Rs 784 from Rs 600 earlier as the stock trades at a 6 percent discount to Sun Pharma based on the merger ratio. It believes Ranbaxy remains a good way for buying into Sun Pharma for long term holders.

Among midcaps, Greaves Cotton, Sun Pharma Advanced, Arvind, Emami and Whirlpool surged 6-10 percent whereas ESS DEE Aluminium, Bhushan Steel, Manappuram Finance, Bayer CropScience and Jet Airways fell 4-7 percent.


14.02 | 0 komentar | Read More

Buy Sun Pharma Adv Research Company: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com recommends buying Sun Pharma Advanced Research Company and advises holding the stock for a few months.

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, " Sun Pharma Advanced Research Company (SPARC) is making lifetime new highs. It is going to do wonderful things. It is not a day trade. You have to buy it and then hold it for a few months to the minimum but there is no harm. The whole idea of trading is to make money not to hold for one or two hours."

At 12:02 hrs Sun Pharma Advanced Research Company was quoting at Rs 202.70, up Rs 14, or 7.42 percent. It has touched a 52-week high of Rs 205.90.


14.02 | 0 komentar | Read More

Raghuram Rajan, Nachiket Mor deserve better

Written By Unknown on Minggu, 24 Agustus 2014 | 14.03

I  have so far resisted commenting on other journalists and their views but this once I am violating myself given rule. The myriad articles accusing RBI governor Raghuram Rajan of bringing his school fellow and friend Nachiket Mor into the RBI as its Deputy governor or COO are outright lies.

May be these fellow journalists of mine don't intend to lie (since some of them are really nice people) but on this one, they are making some really facile conclusions with little or no evidence and based entirely on gossip.

For one thing, the decision to restructure RBI was not Rajan's baby at all. It was a job begun before he took over.

At an offsite for senior management in early 2013, two groups of CGMs and RMs put forth their views on how they would see their work and their departmental design reorganised. Both groups argued that the current 21 departments lead to RBI working in silos.

In his first interaction with senior management, the key takeaways of the offsite were presented to the new governor who asked them to go ahead and present a report on the issue. Deputy governor K C Chakarabarty contributed a great deal of his thoughts and the report was finally ready under deputy governor R Gandhi.

The report, widely contributed to by RBI senior management, aimed to bring departments doing similar functions under one DG. For instance, regulation of banks, NBFCs, and urban cooperative banks lies with different departments. The report wants them under one DG so that a change in prudential rules in one part of the financial sector is extended to other sectors, if necessary, before it gives way to regulatory arbitrage. Likewise citizen-facing departments were to be clubbed together. Monetary policy and research would be a department by itself.  

The restructuring envisages one department that will look at RBI's internal housekeeping, the HR, training, transfers and promotions of RBI officials. The creating of such a department is with the following objectives: One, many staff functions need to be upgraded because their need has been felt only recently. For instance, forensic auditing, derivatives trading or IT.

The HR department is meant to identify such lacunas and plan the training. The idea is to make this department come under a 5th DG who should be called the COO considering the nature of his/her functions. This DG/COO position is meant for an RBI insider, since they are simply better placed to handle such issues. In fact, top ranking RBI officials told me other central banks too have one DG position for internal affairs so as to ensure that people from any branch - even security, press relations, or say Hindi bhasha can rise to the position of DG.

Now the point that these officials make is that by definition this 5th DG will be an RBI insider and hence journalists assuming that Rajan created this post for his class fellow Nachiket Mor is so completely laughable and fantastic. It was a demand from RBI senior management and will be filled by one of their ilk.

 As I see it such a function is not even Mor's  core competence or interest. Mor is a banker par excellence with extraordinary skills in treasury management, prudential rules and financial inclusion. Doing HR for RBI would not even interest him, even assuming an outsider was recruited for this, which again is most unlikely.

In any case since a fifth DG will require amending the Act, currently the revamp efforts envisage a person of ED level to head this housekeeping cum HR department. Once the Act is amended, the DG would be chosen by a government search committee, so again, getting one's class fellow into the position will not be possible. Not that Mor will even want to throw his hat in the ring.

The result of such unwarranted mud slinging and casting crony charges on the governor has been to instil fear in the minds of the unions against the revamp. While the revamp is looking at lateral hires too, seen in the context of press reports saying Mor will become the 5th DG, the unions are worried that promotions will become tough in the new revamped RBI and that newcomers may get the cream.

As two DGs, one current and one former, told me, RBI is in need of restructuring and retraining. There is a need to stop this old bureaucratic practice of transfering people every three or five years. There is a need to keep people in the same job for long so that specialised skills are developed. Rigorous performance evaluation is also needed so that knowledge gaps are identified and training provided.  They pointed out that RBI is functioning in a fast changing financial world where instruments and individuals are getting smarter by the day. Rapid and constant growth of key officials is a necessity. But this entire sensible exercise has been reduced to a fanciful charge that the governor wants to favour his old school friend.

I do hope the tiny band of scribes who cover the central bank show a little more maturity rather than a  cub-reporter's craze for sensational headlines.


14.03 | 0 komentar | Read More

Prefer Eicher Motors for long term: Sandeep Shah

Sandeep Shah of Motilal Oswal Private Wealth Management is of the view that one may prefer Eicher Motors for long term.

Sandeep Shah of Motilal Oswal Private Wealth Management told CNBC-TV18, " Divis Laboratories has a fairly strong cramp business and they are also on the generic side as some of the lowest cost producers of certain drugs. One of the things they do is that they don't enter into conflict with multi national pharmaceuticals companies, on the generic side they will not look at Para 4 challenges nor they will look at patented drugs, they will only look at off patent drugs. So this is available at relative discount through the large caps, it has the best returns ratio in the industry, has one of the highest margins after Sun Pharmaceuticals and Sun Pharmaceuticals margins are way higher than everybody else."

He further added, " Eicher Motors is a stock that has done well but the story is still unfolding. This is one stock where earnings can grow at 45 percent or so for the next three years. It may look optically expensive at 25 times next year but given the quality of earnings growth and given the fact their strong Royal Enfield franchise has been growing when the economy has been slowing down and with the economy recovering you should see a pick turn up in both the commercial vehicle business as well as the engine export rally ramping up as well the buses business, I think these are almost sure shot for somebody who is willing to stay invested for at least two to three years."


14.03 | 0 komentar | Read More

Central and east Gujarat expected to receive rain in next 2 to 3 days

There seems some respite for the people of Gujarat observing dry weather for the last 4 to 5 days. According to Skymet Meteorology Division in India, rain is expected in central and east Gujarat in the next 2 to 3 days. Northern and western parts will still remain dry.

The month of August began on a positive note with some good widespread showers being observed in the state during the first ten days. Thereafter rain decreased and was only witnessed in the form of occasional light patchy showers. Ahmedabad recorded some rain on the 18th but there haven't been any showers since then.

The temperatures are on the rise with Ahmedabad recording 35.3 degrees Celsius as the maximum temperature on Friday, which is 3 degrees above normal. Baroda was 4 degrees above normal at 34.8 degrees Celsius, while Idar saw maximum settling 5 degrees above normal at 36.4 degrees Celsius. This clearly explains how uncomfortable the weather has been in the state in the last few days.

This spell of rain will pull down the maximum temperatures by 1to 2 degrees and provide some relief to the people for a couple of days. But the respite will be short lived as the temperature will again shoot up after decrease in rain. The region is already facing a rainfall deficit of 33%, from 1st June to 22nd August

Picture courtesy:globalgujaratnews.in

By: Skymetweather.com


14.03 | 0 komentar | Read More

Amansa Holdings sells 14.85 lakh shares of Carborundum

Written By Unknown on Sabtu, 23 Agustus 2014 | 14.03

Amansa Holdings Private Limited sold 14,85,019 shares of Carborundum Universal at Rs 200.

On August 22, 2014 Amansa Holdings Private Limited sold 14,85,019 shares of  Carborundum Universal at Rs 200 on the NSE.

In the previous trading session, the share closed at Rs 191, down Rs 0.30, or 0.16 percent.

The share touched its 52-week high Rs 200.75 and 52-week low Rs 101.20 on 07 July, 2014 and 22 August, 2013, respectively.

The company's trailing 12-month (TTM) EPS was at Rs 3.49 per share. (Jun, 2014). The stock's price-to-earnings (P/E) ratio was 54.73. The latest book value of the company is Rs 39.04 per share. At current value, the price-to-book value of the company was 4.89. The dividend yield of the company was 0.65 percent.


14.03 | 0 komentar | Read More

India`s cotton output in the new season beginning October

India`s cotton output in the new season beginning October is expected at 39.63 million bales on a likely record acreage, but the figure is slightly lower than ...

India`s cotton output in the new season beginning October is expected at 39.63 million bales on a likely record acreage, but the figure is slightly lower than the previous year. India, the world`s second-largest cotton grower, produced 40 million bales of the fibre in the 2013-2014 crop year, according to the Cotton Association of India.By: Skymetweather.com


14.03 | 0 komentar | Read More

Indian guar seed futures ended higher on concerns about

Indian guar seed futures ended higher on concerns about the new season output as delayed rains are likely to hit yields in key producing states especially in R ...

Indian guar seed futures ended higher on concerns about the new season output as delayed rains are likely to hit yields in key producing states especially in Rajasthan. Guar seed futures are seen trading firm in the short term, according to the analysts. Guar gum is a by-product produced from guar seed have industrial value.By: Skymetweather.com


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RBI's loan against shares cap to hit NBFCs' growth: DB

Written By Unknown on Jumat, 22 Agustus 2014 | 14.03

Besides the cap on lending, the RBI on Thursday also said NBFCs can accept only Group 1 securities as collateral. Group 1 securities are defined are defined by Sebi as those with an impact cost of 1 or less, which means the share price does not move more than 1 percent up or down when a block of those shares worth Rs 5 lakh are bought or sold.

Moneycontrol Bureau

The Reserve Bank of India (RBI) norms prohibiting NBFCs to lend more than 50 percent of the value of shares pledged is likely to impact the segment growth, says Deutsche Bank (DB). Currently, some NBFCs have been lending as high as 70 percent of the value of pledged shares.    

Besides the cap on lending, the RBI on Thursday also said NBFCs can accept only Group 1 securities as collateral. Group 1 securities are defined are defined by Sebi as those with an impact cost of 1 or less, which means the share price does not move more than 1 percent up or down when a block of those shares worth Rs 5 lakh are bought or sold.

In addition, NBFCs with an asset size of Rs 100 crore and above will have to disclose to stock exchanges about the shares pledged with them.

DB says while these regulations could lower stock price volatility, it could also impact incremental LAS loan growth for NBFCs as quantum of securities eligible for LAS will go down, which makes for 5 to 15 percent of assets under management (AUM) for some of the leading companies in the space.

Why RBI is worried

* At present, loan against securities (LAS) carried out by NBFCs is not subject to specific instructions apart from the general prudential regulation applicable to all NBFCs.

*  NBFCs give LAS either by way of pledge of shares in their favour, transfer of shares or by obtaining a power of attorney on the demat accounts.

*  Irrespective of the manner and purpose for which money is lent under LAS, default by borrowers can and has in the past lead to offloading of shares in the market by the NBFCs thereby creating avoidable volatility in the market.

*  Other concerns relate to absence of adequate prior information to the stock exchanges on the shares held as pledge by NBFCs, probable overheating of the market, over-exposure by NBFCs to certain stocks and overleveraging of borrowers.

* While NBFCs in general have in place their own internal controls with regard to LAS like loan-to-value (LTV) ratio, there are anecdotal evidences of volatility in the capital market being the result of offloading of shares by NBFCs.


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Prefer Federal Bank, says VK Sharma

VK Sharma of HDFC Securities is of the view that one can bet on Federal Bank from the midcap banking space.

VK Sharma of HDFC Securities told CNBC-TV18, "If somebody really wants to go to the midcap banks then one of the banks that fits the bill is Federal Bank, where you have seen positions being added. The stock has done technically well and fundamentally also much better placed then the others. If one wants to take a bet then Federal Bank  is the one."

At 12:18 hrs Federal Bank was quoting at Rs 123.65, up Rs 1.15, or 0.94 percent. It has touched an intraday high of Rs 125.75 and an intraday low of Rs 123.20.


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Buy PNB 960 Call, SBI 2480 Call: VK Sharma

VK Sharma of HDFC Securities recommends buying Punjab National Bank 960 Call and State Bank of India 2480 Call.

VK Sharma of HDFC Securities told CNBC-TV18, "Overall markets have built positions more in the Nifty for the current settlement. My sense is that both State Bank of India  (SBI) and Punjab National Bank  (PNB) are the ones which could move further on."

"I have some long strategy on SBI and PNB and both in the form of buying Calls. I am suggesting buying the PNB 960 Call at Rs 20 with the target of Rs 35 and a stoploss of Rs 15. For SBI I am suggesting 2480 Call at Rs 30 and target of Rs 70 with the stoploss of Rs 15," he said.


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Anuh Pharma's AGM on September 12, 2014

Written By Unknown on Kamis, 21 Agustus 2014 | 14.03

Anuh Pharma Ltd has informed BSE that the 54th Annual General Meeting (AGM) of the Company will be held on September 12, 2014.

To read the full report click here


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Buy JK Bank; target of Rs 1700: ICICIdirect

ICICIdirect.com is bullish on Jammu and Kashmir Bank (JK Bank) and has recommended buy rating on the stock with a target of Rs 1700 in its August 15, 2014 research report.

ICICIdirect.com`s research report on Jammu and Kashmir Bank

"J&K Bank's PAT of Rs 130 crore (plunging 57% YoY) came in below our estimate mainly dragged by higher provisions and lower NII (down 2.4% YoY) at Rs 637 crore vs. Rs 720 crore (I-direct estimate). GNPA surged to Rs 1888 crore (GNPA – 4.16% vs. 1.66%) from Rs 783 crore while NNPA rose by Rs 886 crore QoQ to Rs 968.5 crore (NNPA – 2.18% vs. 0.22%). One big agriculture account (~Rs 700 crore) and one real-estate account (~Rs 270 crore) slipped into NPA causing the stress. RA reduced to Rs 1400 crore vs. Rs 1570 crore in Q4FY14. PCR declined to 55.08% vs. 90% due to large NPA accretion. Excluding provision for aforesaid NPA, PCR was upwards of 75%. Credit grew at a modest pace of 11.5% YoY (I-direct estimate: 18%) to Rs 44430 crore. Deposits grew a meagre 8.6% YoY to Rs 63652 crore as on Q1FY15 vs. 15% expected."

"J&K Bank has steadily improved its NIM from ~3% in FY10 to consistent 4%. The bank earns 6%+ NIM within J&K and sub 3% NIM outside J&K. A further improvement in the CD ratio from 66.9% in FY14 to 69.6% in FY16E and faster credit growth within J&K (high yielding portfolio) shall enable J&K Bank to maintain its NIM at 4%+ level. Steady credit growth and healthy NIM will support NII CAGR of 14.4% from Rs 2685 crore in FY14 to Rs 3511 crore in FY16E. Subsequently, PAT is estimated to grow at 14% CAGR from Rs 1183 crore in FY14 to Rs 1527 crore in FY16E. Large corporate (mostly AAA) comprises 84% of credit portfolio outside J&K and almost 50% of total credit of J&K Bank. Asset quality issues are significantly low in this segment. Within J&K, 34% are personal loans wherein majority are salaried account with the bank. Hence, NPA risk is relatively low. For loans outside J&K there were two chunky accounts (Rs 1000 crore total) that added to NPAs in Q1FY15. The bigger agriculture account is in CDR and may get upgraded in the coming quarters. GNPA, hence, is estimated to rise from Rs 783 crore in FY14 to Rs 1614 crore in FY16E with NNPA manageable at Rs 631 crore (1% of credit) in FY16E."

"Post the recent correction, the stock is trading at reasonable valuations of 1x FY16E ABV. It consistently earns lucrative return ratios with RoA of 1.5%+ and RoE of 20%+ except for this one-off NPAs in FY15. Besides, it is adequately capitalised for future growth with tier 1 ratio of 11.5%. Its dividend payout is healthy at ~20% and dividend yield of 3.3%. We maintain our target price of Rs 1700 valuing the bank at 1.2x FY16E ABV and recommend BUY on the stock. We believe the current correction offers an opportunity to enter the stock from a long term perspective," says ICICIdirect.com research report.

For all recommendations, click here  

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.

To read the full report click here


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Buy Coal India; target of Rs 400: ICICIdirect

ICICIdirect.com is bullish on Coal India and has recommended buy rating on the stock with a target of Rs 400 in its August 14, 2014 research report.

ICICIdirect.com`s research report on Coal India

"Coal India, total operating income for Q1FY15 came in at Rs 17799.5 crore up 8.1% YoY and in line with our estimate of Rs 17936.4 crore. Total sales volume came in line with our expectation of 119.6 MT while blended realisation stood at Rs 1488/tonne (higher by 4.2% YoY). E-auction volume for the quarter came in at ~16.8 MT (higher by 27% YoY) accounting for ~14% of the total sales volume. E-auction realisation came in at Rs 2246/tonne (up 4.9% YoY). FSA volume for the quarter stood at 99 MT while FSA realisation came in at Rs 1320/tonne (up 1.8% YoY). Employee cost remained flat QoQ, which led to better-than-expected EBITDA margin. The lower employee expense is likely on account of employee attrition. EBITDA margin for the quarter was at 24.1%, higher than our estimate of 22.1%. EBITDA/tonne was at Rs 358/tonne, higher than our estimate of Rs 331/tonne. The ensuing EBITDA came in at Rs 4281 crore, up 8.2% YoY and better than our estimate of Rs 3955.7 crore. The consequent PAT came in at Rs 4033.3 crore, up 8.1% YoY. It was better than our estimate of Rs 3674.1 crore."

"Coal production at CIL has been sluggish with FY13 and FY14 coal production growth at 3.7% and 2.3%, respectively. We believe the recent relaxation in environmental norms is likely to aid CIL in ramping up production. Going forward, we expect the company to clock coal production CAGR of 6.0% in FY14-16E to 520 MT. On the back of increasing coal production and better rail raw rake availability, we expect coal sales volumes to grow at a CAGR of 5.5% in FY14-16E to 525 MT. CIL produces ~90% of its coal through open cast mining and witnesses low stripping ratio (1.8 during the nine months ended FY14), thereby ensuring that reserves are easily extractable. Hence, this helps to position the company as among the lowest cost coal producers in the world. CIL's blended cost of production stands at ~Rs 1050/tonne (~US$18 /tonne)."

"CIL has a strong balance sheet with robust cash flows and a healthy liquidity position. In FY14-16E, we expect the topline, EBITDA and PAT to grow at a CAGR of 8.9%, 12.7% and 15.3%, respectively. The stock is currently trading at FY16E adjusted EV/EBITDA of 5.7x. We have valued the stock at 7x FY16E adjusted EV/EBITDA (adjusted for overburden removal) and arrived at a target price of Rs 400 with a BUY rating. A healthy dividend payout and impressive dividend yield (~3.2% on a normalised basis) reinforce our positive stance on the company. With the stable government in place at the centre, we believe the stock will be a key beneficiary of reforms in the sector," says ICICIdirect.com research report.     

For all recommendations, click here  

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.

To read the full report click here


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Dementia: When 'losing your mind' is not a figure of speech

Written By Unknown on Rabu, 20 Agustus 2014 | 14.03

By 2050, India's population aged 60 years and above is estimated to be at 323 million, up 400 percent from 70 million as it was in 2001. The number of senior citizens in India in 2050 will outnumber the total population of the US in 2012, according to the Population Reference Bureau.  Sadly, a significant number does not and will not enjoy the robust health of 101-year old Fauja Singh, the world's oldest marathon runner, but will instead battle one or more illnesses and/or disabilities.

The burden of chronic illnesses such as heart disease, hypertension and diabetes that is borne by India's elderly has been fairly well-documented. These diseases are relatively well-understood with an increasing degree of awareness and access to diagnosis and treatment. The government too is investing more in awareness and screening.

But there is another set of silent diseases, less understood, under-diagnosed and under-treated, that threaten to pose a Herculean challenge. This set of diseases is particularly pernicious because of the effect it has on the mind; gradually eroding it, rendering the afflicted incapable of completing basic tasks and making them entirely dependent on caregivers, mostly family. It goes by the overarching name of dementia.

The impact of dementia is not only on the patient, but on the society as a whole. For instance, caring for those afflicted imposed a cost of nearly Rs 15,000 crore on society, according to the Indian Dementia Report, 2010 published by New Delhi's Alzheimer's and Related Disorders Society of India (ARDSI). That is roughly the market capitalization of India's largest hospital chain.

According to numbers from the World Health Organization (WHO)'s Global Burden Disease Report 2004 quoted by the India Dementia Report, the global age-standardized death rate for Alzheimer and other neurological disorders is 6.7 per 100,000 for males and 7.7 per 100,000 for females. For India and the WHO SEARO D sub region (of South East Asian countries), the dementia mortality rate is 13.5 per 100,000 males and 11.1 per 100,000 females. Compared to other chronic medical conditions (heart diseases, cancer and stroke), Alzheimer's - a form of dementia - is the fourth leading cause of death in the Asia Pacific Region.

Going forward, it is estimated that low and middle income countries will bear a greater part of the burden of people living with dementia.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What is dementia?

The India Dementia Report defines it as a syndrome (a collection of symptoms), usually chronic, characterized by a progressive, gradual deterioration in intellect including memory, learning, orientation, language, comprehension and judgment due to disease of the brain.

Unlike diseases such as diabetes or dyslipidemia that usually strike people in their prime and are managed into old age, dementia almost exclusively affects older people; only 2% of cases start before the age of 65 years, says the Report. After this, the prevalence doubles with every five year increment in age.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dementia is one of the major causes of disability in late-life, says the Report. But the symptoms such as memory loss, and difficulty performing familiar tasks, are often confused with the natural process of ageing and hence do not raise red flags. The common causes accounting for 90% of all cases are Alzheimer's disease, Vascular Dementia and Dementia with Lewy bodies and Frontotemporal Dementia.

The Report estimates that 3.7 million Indian citizens have dementia. Given the growing population of the aged, this number is expected to almost quadruple by 2050 to 14.3 million, a little greater than the population of Mumbai as it stands today.

The value of knowing

There is no cure for dementia, it can only be managed. It is progressive and cannot be reversed. That begs the question – wouldn't it be better to be ignorant if you have it? Would knowing serve any purpose?

The short answer to the first question is - No. And to the second -Knowing is vital.  The sooner the better. There are several reasons to support early diagnosis. These include early intervention that can ease symptoms, improve quality of life and lower cost and the removal of uncertainty, which by itself, causes significant mental stress. It also helps both patients and caregivers prepare - financially and emotionally - for eventualities, and to seek help.

This is supported by studies conducted in different parts of the world. For instance, in 2010 one study conducted in the US found that early diagnosis followed by information and support reduced outpatient costs by almost 30 per cent. Government agencies such as the National Health Service (NHS) of the UK have also come out in support of early diagnosis as it helps to "get the right treatments, find the best sources of support, as well as to make decisions about the future."

Diagnosis involves a combination of conversations with the patient and family members, a physical exam, memory tests and/or brain scans, according to the Alzheimer's Society.

Ignorance is not bliss

New research suggests that the general public would also prefer it that way. A recent study conducted by market research agency Millward Brown for GE Healthcare, the US-based company that makes diagnostics for a range of diseases including dementia, found that three quarters of a universe of 10,000 adults surveyed across 10 countries wanted to know what kind of neurological disorder they had. Even if there was no cure.

Surprisingly, India - in spite of its supposed culture of fatalism - was one of the countries that ranked high. 90% in India consider accurate diagnosis to be very or fairly important in detection of disease. This is good news given that India is less familiar than other nations with the signs and symptoms of dementia. 70 per cent of those surveyed here said they would want to know if they were afflicted, while only 17 per cent said they'd rather not know as the stress would limit their ability to deal with the illness.

A whopping 83 per cent of those who supported knowing thought that there should be access to diagnosis before symptoms became apparent. And this, in spite of the fact that the adults surveyed were less familiar with dementia than those from the other nations.

The percentage of those wanting to know was even higher among those over 40 years of age (73 per cent) and those who had been hospitalized (85 per cent). Women were more likely to want to know than men (74 per cent vs. 65 per cent) not just for themselves but also for those close to them (79 per cent vs. 69 per cent). 82 per cent of those who supported early diagnosis were willing to pay out-of-pocket for it though an overwhelming majority (93 per cent) thought it should be covered by health insurance.

And then what?

The reasons for knowing ranged from starting treatment to managing symptoms (69 per cent), to the ability to make informed decisions (55 per cent) and to a lesser extent the time to fulfill personal ambitions (32 per cent).

Are these justifiable expectations? Definitely. According to the Dementia Report, partially effective treatments are available for most core symptoms of dementia though they do not alter the course of the disease. According to UK's NHS, in certain types of dementia, such as Alzheimer's, drugs such as donepezil, rivastigmine and galantamine improve symptoms by making the remaining brain cells "work a bit harder." Some dementia is caused by deficiencies such as of vitamin B12, and folic acid or brain tumors. If detected in a timely manner, the underlying causes can be treated thus making this type of dementia reversible.

The Report also notes that psychological interventions such as cognitive stimulation are beneficial in the early stages of the disease but are not of much use in the later stages. Similarly, care giving that is provided at a lower cost thanks to early diagnosis reduces strain on the caregiver - typically a family member who may be in the productive age group.

India ill-equipped

India still has a long way to go to meet these expectations. "Lack of awareness among professionals, the family and community, policy makers and agencies to the needs of persons with dementia has led to dementia care being absent or delivered piecemeal and in an inefficient fashion in India," says the Report. It notes that there are hardly any standard practice guidelines and treatment centers in India and that the current health and social care system is ill-equipped to support dementia sufferers or even their caregivers with just 10 Day Care centers for dementia patients. This is not tenable given the projected burden of dementia in the years ahead.

Indeed, diagnosis is a global challenge. According to non-profit Alzheimer's International, research shows that most people currently living with dementia have not received a formal diagnosis. In high income countries, only 20-50 per cent of dementia cases are recognized and documented in primary care. This 'treatment gap' is certainly much greater in low and middle income countries, it says observing that one study in India suggested that 90 per cent cases remain unidentified.
 
It is time that dementia be made a national priority and given its due on various aspects of diagnosis, treatment and care giving. In the long run, the ultimate aim of knowing should be to live well in spite of dementia with a measure of independence.


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Sintex Industries: Outcome of committee meeting

Sintex Industries at its meeting held on August 20, 2014, has allotted 1,49,63,662 equity shares of Re 1 each to Foreign Currency Convertible Bonds (FCCB) holders on the exercise their conversion right.

Sintex Industries Ltd has informed BSE that pursuant to the approval of the Shareholders of the Company at the 81st Annual General Meeting of the Company held on September 17, 2012; for issue of US $ 140,000,000, 7.50 per cent, step down Convertible Bonds due 2017, the Committee of Directors at its meeting held on August 20, 2014, has allotted 1,49,63,662 equity shares of Rs. 1/- each to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise their conversion right.With the said allotment of 1,49,63,662 equity shares of Rs. 1/- each of the Company as aforesaid, the paid up equity share capital of the Company as on August 20, 2014 stands increased from Rs. 34,20,92,695/- to Rs. 35,70,56,357/- divided into 35,70,56,357 Equity shares of Re. 1/- each.Source : BSE

Read all announcements in Sintex Ind


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EMs seeing largest inflows from Japan, US: Quant Capital

There have been outflows seen from Russian funds to China and India. Even European equity funds are seeing outflows for the last 7-8 weeks.

The Indian equity market has seen FII inflow of over Rs 2700 crore in the past five trading session. Discussing the current trend, Rishav Dev, Equity Strategist, Quant Capital - Institutional Equities, said he believes the inflow will continue for another few weeks.

He said Asia (ex-Japan), looks the only stable region amidst emerging markets, which is seeing the largest inflows from Japan and the US.

Dev said there have been outflows seen from Russian funds to China and India. Even the European equity funds are seeing outflows for the last 7-8 weeks.

Transcript to follow 


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Sensex firm, midcap shines; ICICI Bank, LT most active

Written By Unknown on Selasa, 19 Agustus 2014 | 14.03

Aug 19, 2014, 12.28 PM IST | Source: Moneycontrol.com

Tata Motors, ICICI Bank, Larsen and Toubro, ONGC, YES Bank, Wockhardt and Bharti Airtel are most active shares on exchanges.

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Sensex firm, midcap shines; ICICI Bank, L&T most active

Tata Motors, ICICI Bank, Larsen and Toubro, ONGC, YES Bank, Wockhardt and Bharti Airtel are most active shares on exchanges.

12:27

Moneycontrol Bureau Equity benchmarks as well as broader markets remained in positive terrain in noon trade. The Sensex rose 22.99 points to 26413.95 and the Nifty advanced 15.75 points to 7890.

The BSE Midcap and Smallcap indices outperformed benchmarks, up 0.9 percent each. About 1397 shares have advanced, 1153 shares declined, and 135 shares are unchanged.

Tata Motors, ICICI Bank, Larsen and Toubro, ONGC, YES Bank, Wockhardt and Bharti Airtel are most active shares on exchanges.

Shares of Tata Motors, ICICI Bank, Larsen and Toubro, Sesa Sterlite, Mahindra and Mahindra, Axis Bank, Dr Reddy's Labs, Maruti Suzuki, Hero Motocorp and BHEL gained 1-2.6 percent. However, Hindustan Unilever, TCS and HDFC fell 1-2 percent. ITC, HDFC Bank, Sun Pharma, ONGC and Reliance Industries declined 0.2-0.7 percent.

11:01

Capital Good, Metal and Auto indices are lending support to the market. Sesa Sterlite, Dr Reddy's Labs, M&M, Axis Bank and Hindalco are top gainers in the Sensex. Among the losers are TCS, Sun Pharma, HDFC, Cipla and ONGC.

Read More »

10:00

Housing finance company HDFC and top software services exporter TCS fell more than a percent followed by ITC and Sun Pharma with over 0.5 percent. ONGC lost early gains, down 0.3 percent on profit booking.

Read More »

09:15

Sesa Sterlite topped the buying list, up 3.64 percent followed by Larsen and Toubro, BHEL, Coal India, ONGC, BPCL and Tata Power with 1-2 percent. However, TCS, Cipla, GAIL, HDFC, Wipro, DLF and Grasim Industries slipped marginally.

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Earnings to grow 20% compounded; bearish PSUs: Dron Capital


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Heera Ispat: Outcome of board meeting

Heera Ispat at its meeting held on August 19, 2014, inter alia, has considered, discussed and approved the appointment of Directors by rotation.

Heera Ispat Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 19, 2014, inter alia, has considered, discussed and approved the following matters:1. Appointment of Directors by rotation.2. Appointment of Auditors.3. Constitution of Remuneration Committee.4. Fixing date and venue of AGM to be held on September 30, 2014.Source : BSE

Read all announcements in Heera Ispat


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Mehraboon Irani positive on Motherson Sumi Systems

Mehraboon Irani of Nirmal Bang Securities is positive on Motherson Sumi Systems and feels that the stock may test Rs 500 in the next 15-18 months.

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, " Motherson Sumi 's numbers were slightly disappointing to people who always discount present number into the stock prize mainly because of the Indian operation. If you look at it properly Indian operation there was wage increase and there was start up cost for the new capacity, but going ahead the Smc-Sme operations largely stable for the company. New orders, execution of new orders and most important is entering the new lucrative market of the US that could be a big positive for Motherson Sumi."

"In last 25 months two bonus issues, at Rs 350 I remain very positive and this stock if you give a prize of Rs 500 maybe in the next 15-18 months which is distinctly possible. This is a stock which should be a part of a good portfolio and the story for Motherson Sumi has just started 12 months ago and it has a long way to go," he added.


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Wall Street ends higher after Ukraine concerns ease

Written By Unknown on Jumat, 15 Agustus 2014 | 14.02

US stocks advanced on Thursday after conciliatory comments from Russia helped ease concerns about escalation of the conflict in Ukraine and offset some uninspiring earnings.

Gains were broad, with all but one of the S&P's 10 primary sector indexes rising for the day. An S&P index of healthcare stocks gained 1.2 percent and led the advance, while an index of energy stocks dragged, slipping 0.5 percent.

Russian President Vladimir Putin said Russia would stand up for itself but not at the cost of confrontation with the outside world, striking a softer tone after tough rhetoric aimed at Ukraine for several months.

The market had been pressured in recent weeks by uncertainty over the conflict.

Earnings season continued to wind down, with 92 percent of S&P 500 companies having reported quarterly earnings by Thursday morning. Of the companies that have reported results so far, 67.7 percent beat analysts' expectations.

Wal-Mart Stores Inc, the nation's largest retailer, reported earnings and revenue that met expectations. But the company cut its forecast for coming quarters. The Dow component's stock rose 0.5 percent to USD 74.39.

Shares of Cisco Systems Inc, another Dow component, fell 2.6 percent to USD 24.54. The network equipment maker gave a tepid outlook for its current quarter and announced massive job cuts despite reporting revenue that beat expectations.

The stock market has looked past flaring tensions abroad to rally for an extended period, with the S&P 500 marking more than 1,000 days since its last correction, which Wall Street defines as a drop of 10 percent from the most recent high.

"In October, the Fed is going to get away from money printing, and since we haven't had a correction in a long time, it could undermine things very quickly once people realize growth isn't in line with their expectations," said Jeff Duncan, president of Duncan Financial Management in Sunset Hills, Missouri.

The Dow Jones industrial average rose 61.78 points, or 0.37 percent, to close at 16,713.58. The S&P 500 gained 8.46 points, or 0.43 percent, to finish at 1,955.18. The Nasdaq Composite added 18.88 points, or 0.43 percent, to end at 4,453.

Shares of Boeing Co shot up 1.7 percent to USD 124.11, making it the Dow's second-biggest gainer. The company said demand for its commercial jetliners was very strong and signaled it is getting close to deciding whether to further accelerate output.

The price of Berkshire Hathaway Inc's Class A stock crossed USD 200,000 for the first time on Thursday in the latest milestone for the company that Warren Buffett built over nearly five decades. Berkshire Hathaway closed at USD 202,850, up 1.8 percent on the New York Stock Exchange.

After the bell, shares of Nordstrom Inc slid 1.7 percent. The upscale department store chain, known for its selection of fashion labels and customer service, reported second-quarter earnings in line with expectations and a 3 percent increase in same-store sales.

JC Penney Co Inc shares initially rose 7 percent to USD 10.40 in extended-hours trading before falling to unchanged from the NYSE close at USD 9.74. After the bell, the department store chain reported quarterly sales rose 5 percent while its quarterly loss narrowed to 56 cents per share.

Shares of Monster Beverage Corp soared 30 percent to USD 71.65 in extended-hours trading on news that the energy drink maker entered a long term partnership with Coca-Cola Co.

During the regular session, Red Robin Gourmet Burgers had its worst trading day since November 2006. The burger chain reported quarterly earnings and revenue sharply below expectations, sending its stock tumbling 18.5 percent to USD 52.63.

About 4.7 billion shares traded on all US platforms, according to BATS exchange data, compared with the five-day average of 5.4 billion.


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U.S. stocks gain on fading Ukraine concerns; Dow rises 0.37%

Investing.com - Investing.com - U.S. stocks rose on Thursday as fears faded that the Russia-Ukraine conflict was poised to escalate, which eclipsed disappointing U.S. data.

At the close of U.S. trading, the Dow 30 rose 0.37%, the S&P 500 index rose 0.43%, while the NASDAQ Composite index also rose 0.43%.

The Volatility S&P 500 index, which measures the outlook for market volatility, was down 3.33% at 12.47.

Russian President Vladimir Putin said while his country would defend itself, Moscow has no plans to engage in conflict with the rest of the world over Ukraine.

Putin's soothing words allowed stocks to climb by allaying fears that the Ukraine conflict and subsequent sanctions slapped on Russia will weigh on global recovery, which offset disappointing U.S. data.

The U.S. Labor Department reported earlier that the number of individuals filing for initial jobless benefits in the week ending Aug. 9 increased by 21,000 to 311,000 from the previous week's revised total of 290,000.

Analysts had expected jobless claims to rise by 5,000 to 295,000 last week.

Meanwhile in the Mideast, Israel and Palestinian delegates extended a truce for five days on Wednesday to figure out ways to end the Gaza conflict, which also allowed U.S. stocks to climb.

Leading Dow Jones Industrial Average performers included Pfizer Inc (NYSE:PFE), up 1.83%, Boeing Company (NYSE:BA), up 1.75%, and Merck & Company Inc (NYSE:MRK), up 1.62%.

The Dow Jones Industrial Average's worst performers included Cisco Systems Inc (NASDAQ:CSCO), down 2.64%, Chevron Corporation (NYSE:CVX), down 0.52%, and Intel Corporation (NASDAQ:INTC), down 0.45%.

European indices, meanwhile, ended the day higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 0.14%, France's CAC 40 rose 0.25%, while Germany's DAX rose 0.29%. Meanwhile, in the U.K. the FTSE 100 rose 0.43%.

On Friday, the U.S. is to round up the week with reports on manufacturing activity in New York state and industrial output, as well as preliminary data on consumer sentiment.

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Indian ADRs: ICICI Bank gains 4.5%, Tata Motors up 4%

Indian ADRs ended higher on Thursday. ICICI Bank gained 4.5 percent and Tata Motors rose 4 percent.

Indian ADRs ended higher on Thursday. In the banking space, ICICI Bank gained 4.46 percent at USD 52.20 and HDFC Bank was up 2.47 percent at USD 49.31.

In the IT space, Wipro added 0.34 percent at USD 11.82 and Infosys was down 0.31 percent at USD 58.13.

In the other space, Dr Reddy's Laboratories rose 1.14 percent at USD 45.39 and Tata Motors was up 3.84 percent at USD 43.82.


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Lanco Infra up 5% on selling Udupi project to Adani Power

Written By Unknown on Kamis, 14 Agustus 2014 | 14.03

"This transaction will support the company in reducing its debt and will enable Lanco to receive about Rs 2,000 crore as cash and additionally, Adani Power will take Udupi Power's long-time debt of around Rs 4,000 crore," said Lanco Infratech in its filing.

Moneycontrol Bureau

Shares of  Lanco Infratech rallied nearly 5 percent on Thursday after the infrastructure company sold its coal-fired Udupi Power plant (1200 MW) to  Adani Power (too gained as much as 3.6 percent intraday) for an enterprise value of Rs 6,000 crore.

"This transaction will support the company in reducing its debt and will enable Lanco to receive about Rs 2,000 crore as cash and additionally, Adani Power will take Udupi Power's long-time debt of around Rs 4,000 crore," said Lanco Infratech in its filing.

The Lanco Udupi Power plant has already signed an agreement with Karnataka government for further expansion of 1320 MW.

Accoriding to Lanco, the imported coal-based thermal power plant of the company, which supplies 90 percent of power generated to Karnataka state and 10 percent to Punjab state, is the first independent power project in the country based on 100 per cent import coal with a captive jetty of four million tons per annum and an external coal handling system in the new Mangalore Port Trust.

Harshvardhan Dole, vice president institutional equities, IIFL sees the enterprise value (EV) of Rs 6000 crore as a win-win for both the companies involved in the deal .

"It is EV per mega watt of close to Rs 4.5 crore to Rs 5 crore which is a good deal. It is lower than the current replacement cost and since the plant sells power on longer term assured return on equity (RoE) basis, Adani Power should not have any material challenge selling or rather structuring the power purchase agreement (PPA) hereon. Lanco of course will see reduction in debt, their debt should come off by about 10 percent odd," Dole explained.

At 11:50 hours IST, Lanco Infratech was quoting at Rs 8.92, up 4.57 percent while Adani Power rose 2.4 percent to Rs 53.30 on the BSE.

Posted by Sunil Shankar Matkar


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Midas Infra Trade approves stock split

Midas Infra Trade at its meeting held on August 14, 2014, has considered and approved the sub-division of each equity share of the Company having a Face Value of Rs 10 each into 10 Equity shares having Face Value of Re 1 each, subject to the consent of the shareholders.

Midas Infra Trade Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 14, 2014, inter alia, has considered and approved the following:1. Approval of sub-division of each equity share of the Company having a Face Value of Rs. 10/- each into 10 Equity shares having Face Value of Rs. 1/- each, subject to the consent of the shareholders.2. Approved consequent alteration in the Capital Clause as contained in the Memorandum of Association of the Company.The aforesaid decision of the Board of Directors is subject to the approval of the shareholders and other authorities.Source : BSE

Read all announcements in Midas Infra


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Sensex, Nifty, Midcap Smallcap firm; WPI inflation eases

Aug 14, 2014, 12.25 PM IST | Source: Moneycontrol.com

Shares of Tata Motors, Sesa Sterlite and Gail India topped the buying list, up more than 2 percent followed by HDFC Bank, ICICI Bank, Larsen and Toubro, Sun Pharma and Maruti Suzuki with 1-1.8 percent.

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Sensex, Nifty, Midcap & Smallcap firm; WPI inflation eases

Shares of Tata Motors, Sesa Sterlite and Gail India topped the buying list, up more than 2 percent followed by HDFC Bank, ICICI Bank, Larsen and Toubro, Sun Pharma and Maruti Suzuki with 1-1.8 percent.

12:26

Moneycontrol Bureau Equity benchmarks as well as broader markets remained firm in noon trade after the WPI inflation eased to 5.19 percent in July from 5.43 percent in previous month.

The Sensex rose 115.90 points to 26034.85 and the Nifty advanced 25.45 points to 7765 while the BSE Midcap and Smallcap indices gained around half a percent. About 1237 shares have advanced, 1289 shares declined, and 109 shares are unchanged.

Shares of Tata Motors, Sesa Sterlite and Gail India topped the buying list, up more than 2 percent followed by HDFC Bank, ICICI Bank, Larsen and Toubro, Sun Pharma and Maruti Suzuki with 1-1.8 percent.

Aluminium major Hindalco Industries gained over a percent ahead of earnings today. Net profit is expected to fall by 14 percent but operating profit may jump 80 percent year-on-year to Rs 861 crore.
 
However, HDFC, Hero Motocorp and Bharti Airtel dropped 1-3 percent. State Bank of India, Tata Steel, Wipro, Bajaj Auto and Cipla declined 0.4-0.7 percent.

11:01

GAIL, Sesa Sterlite, Hindalco, ICICI Bank and Sun Pharma are top gainers in the Sensex. Among the losers are Hero Motocorp, HDFC, Bajaj Auto, Tata Steel and Wipro.

Read More »

10:00

Shares of HDFC Bank, ITC, ICICI Bank, TCS, Larsen and Toubro, Sun Pharma, Mahindra and Mahindra, Hindalco Industries, Sesa Sterlite and Gail India gained 1-1.7 percent followed by Infosys, Reliance Industries and Tata Motors with marginal gains.

Read More »

09:11

Sun Pharma, L&T, Tata Power, HDFC and ICICI Bank are top gainers in the Sensex. Among the losers are ONGC, Tata Steel, Sesa Sterlite, Bharti and ITC.

Read More »

video of the day

Nifty may top 7800; sharp correction unlikely: Phillip Cap


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Buy USDINR August; target of 61.68: Karvy

Written By Unknown on Rabu, 13 Agustus 2014 | 14.02

Karvy has recommended to buy USDINR August between 61.24-61.28 for the target of 61.68 with a stop loss below 61.12, in its research report dated August 13, 2014.

Karvy's report on Rupee

The Indian rupee on Tuesday traded on a mixed note while posting a positive close with a gain of 15 paisa from the previous days close. The gain in the Indian rupee was aided by the positive equity markets which closed above the 7700 mark taking cues for the positive global market conditions. Markets have displayed optimism about the economic data that is to be released later in the evening, however these results have turned out to be disappointing.

Outlook: In today's morning trade all the Asian markets are trading on a marginally positive note, with the S&P 500 posting closing at 1933.75 down by 0.16 percent from Monday's close. The Dollar index continued trading above 81.50 at 81.53 holding to its gains after a volatile session in the previous week.. EURO depreciated with respect to the dollar at 1.3345 after the disappointing Zews expectation for Germany came in at 8.6 against a expectation of 17.0, and for Europe came in at 23.7 against a previous level of 48.1. The British pound traded on a positive note at 1.6803 showing signs of strength against its neighbors which is proving to be safer heaven in these volatile times.

In terms of currencies, Asian currencies are trading on a mixed note as compared to Friday with respect to the dollar. The one month Rupee NDF is trading on a depreciating note up by 13 paisa from yesterday's closing after disappointing CPI and IIP numbers which came in at 7.96 and 3.4 percent respectively against an expectation of 7.40 and 5.6.. The SGX Nifty is currently trading lower by 20 points suggesting a negative opening for the index. In terms of economic data, there is a lot of data from the EU and UK which could induce considerable amount of volatility in the later part of today's trading session.

Technical Recommendation:
USDINR Aug: Buy between 61.24-61.28 TGT 61.68 SL below 61.12

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.

To read the full report click here


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Brooks Laboratories appoints Ankit Parekh as company secretary

Brooks Laboratories at its meeting held on August 13, 2014, has approved the appointment of Mr. Ankit Parekh as the Company Secretary cum Compliance Officer of the Company w.e.f. August 01, 2014.

Brooks Laboratories Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2014, inter alia, has approved the following:- Appointment of Mr. Ankit Parekh as the Company Secretary cum Compliance Officer of the Company w.e.f. August 01, 2014.Source : BSE

Read all announcements in Brooks Labs


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Buy US$/INR August on dips: ICICIdirect

The US dollar is expected to garner buying support on declines against the rupee. one can utilise declines in the US$/INR August contract to buy, says ICICIdirect.com

ICICIdirect.com's report currency

Forex (US$/INR)

The rupee rose slightly on Tuesday as gains in local shares improved sentiment even as global currency markets continued to see-saw because of conflicting signs coming from geo-political flashpoints such as eastern Ukraine.

The Indian currency ended the day at 61.08, up 0.15% from its previous close of 61.17

The dollar index against six major currencies closed at 81.52, up 0.07% from its previous close of 81.46

US$/INR derivatives strategy: Buy August contract

In the currency futures market, the most traded dollar-rupee August contract on the NSE closed at 61.29. The August contract open interest was up 0.88% from the previous day

September contract open interest was up 13.18% from the previous day

We expect the US dollar to garner buying support on declines against the rupee. Utilise declines in the US$/INR August contract to buy.

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.

To read the full report click here


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Divis Laboratories may touch Rs 1550: Kunal Bothra

Written By Unknown on Selasa, 12 Agustus 2014 | 14.02

Kunal Bothra, Head of Advisory at LKP is of the view that Divis Laboratories may touch Rs 1550.

Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, " Divis Laboratories is trading very close to its longer term support of Rs 1,425. I would take that as a support level. Keeping the long term view intact, my sense is that this could be a good entry point for Divis Laboratories. Keep a trailing stoploss or a stoploss of Rs 1,425, till that time Divis Laboratories could give you an upside target of Rs 1,550 plus."

At 11:51 hrs Divis Laboratories was quoting at Rs 1,488, down Rs 24.25, or 1.60 percent. It has touched an intraday high of Rs 1,500 and an intraday low of Rs 1,449.

Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended the same to his clients at LKP.


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Novopan Industries: Updates on delisting offer

With reference to the earlier Announcement dated August 01, 2014, regarding Delisting Offer, GVK Projects and Technical Services has now submitted a Copy of Updated Letter of Offer in respect of Delisting Offer for the voluntary delisting of Equity Shares of Novopan Industries.

With reference to the earlier Announcement dated August 01, 2014, regarding Delisting Offer, GVK Projects and Technical Services Ltd ("GVK Projects" / "Acquirer") has now submitted to BSE a Copy of Updated Letter of Offer in respect of Delisting Offer for the voluntary delisting of Equity Shares of Novopan Industries Ltd ("Target Company")Arihant Capital Markets Ltd ("Manager to the Delisting Offer")Source : BSE

Read all announcements in Novopan

To read the full report click here


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Sensex maintains momentum; Tata Power, Coal India rally

Coal India, Sun Pharma and Tata Power rallied more than 2 percent ahead of their first quarter earnings today while BHEL remained under pressure before its June quarter earnings announcement.

12:25

Moneycontrol Bureau Equity benchmarks maintained strong momentum in noon trade with the Sensex rising 152.90 points to 25672.14 and the Nifty gaining 39.15 points to 7665.10.

About 1306 shares have advanced, 1203 shares declined, and 133 shares are unchanged.

Coal India, Sun Pharma and Tata Power rallied more than 2 percent ahead of their first quarter earnings today while BHEL remained under pressure before its June quarter earnings announcement.

Tata Motors, the commercial vehicle maker and the owner of luxury car maker Jaguar Land Rover, maintained leading position in the buying list, up 6 percent post strong Q1 earnings. Credit Suisse increased earnings per share estimates by around 11 percent for FY15 and raised target price to Rs 510/share from Rs 480/share.

GAIL surged nearly 4 percent and HDFC shot up 3 percent. L&T, ONGC, NTPC, Cipla and Tata Steel climbed 1-2.7 percent. However, ITC, Infosys, TCS, Bharti Airtel, Mahindra and Mahindra, Reliance Industries, Hindalco, Hero Motocorp and SBI are under pressure.

11:00

Tata Motors is up 6 percent, while GAIL, ONGC, HDFC and Sun Pharma are top gainers in the Sensex. Among the losers are Bharti, M&M, BHEL, ITC and Infosys.

Read More »

10:16

GAIL India rebounded with 2 percent gains after Nomura maintains buy with a price target of Rs 525/share, saying it is a top pick in oil & gas sector as the outlook remains good for all segments and the correction in the stock price is an opportunity to accumulate.

Read More »

09:15

The Indian rupee was unchanged at 61.17 per dollar in opening trade on Tuesday compared to previous day's closing value.

Read More »


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Sun TV slips 5% on dismal Q1 nos; Credit Suisse downgrades

Written By Unknown on Senin, 11 Agustus 2014 | 14.02

Credit Suisse has also cut earnings by 12 percent. It is concerned that there may be a big disappointment again if Sun TV is forced to cut inventory, after the hearing on TRAI's ad cap slated for September. Despite the company increasing the number of minutes back to 15-16, Sun's quarterly ad revenues were flat on yearly basis.

Moneycontrol Bureau

Shares of  Sun TV Network slipped over 5 percent intraday on Monday due to dismal performance in April-June quarter performance. Credit Suisse has downgraded the stock to neutral with a reduced target of Rs 410 per share. 

"With media reports indicating that CBI now has enough evidence to file a charge sheet against Sun TV's promoters on the Aircel-Maxis case, this will remain an additional overhang. Valuation discount to Zee hence is unlikely to decline near term," it says in a report.

The brokerage has also cut earnings by 12 percent. It is concerned that there may be a big disappointment again if Sun TV is forced to cut inventory, after the hearing on TRAI's ad cap slated for September. Despite the company increasing the number of minutes back to 15-16, Sun's quarterly ad revenues were flat on yearly basis.

The South-based television broadcaster missed street expectations with the first quarter net profit rising 0.73 percent year-on-year to Rs 165.6 crore on slow growth in revenue and operational performance. Profit in the year-ago period was Rs 164.4 crore.

Income from operations grew by 5.3 percent to Rs 633.6 crore in the quarter ended June 2014 from Rs 601.9 crore in same quarter last year.

"Subscription revenues continue to maintain uptrend with cable TV revenues growing by 15 percent and DTH subscription revenue rising by 21 percent over same quarter last year," said the company in its filing, adding advertising revenues increased marginally to Rs 280.42 crore.

At 12:07 hrs, the stock was quoting at Rs 401.00, down Rs 18.95, or 4.51 percent on the BSE.

Posted by Nasrin Sultana
 


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Buy Hexaware, Tata Comm; sell Union Bank futures: Chopra

Manav Chopra of Nirmal Bang Securities recommends buying Tata Communications for a target of Rs 365 and Hexaware Technologies for a target of Rs 155.

In CNBC-TV18's popular show Bull's Eye, Manav Chopra of Nirmal Bang Securities shares his trading strategies for the day.

One may sell United Breweries futures  for a target price of Rs 695 and keep a stoploss at Rs 744.

One may sell Union Bank of India futures  for a target price of Rs 185 and keep a stoploss at Rs 201.

One may buy Hexaware Technologies  for a target price of Rs 155 and keep a stoploss at Rs 142.

One may buy Tata Communications  for a target price of Rs 365 and keep a stoploss at Rs 335.


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Sell JSW Energy; buy Idea Cellular: Meghana Malkan

Meghana Malkan of malkansview.com is of the view that one may buy United Breweries for a target of Rs 760 and Idea Cellular for a target of Rs 170.

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

One may sell JSW Energy  for a target price of Rs 68 and keep a stoploss at Rs 76.

One may sell Reliance Capital  for a target price of Rs 540 and keep a stoploss at Rs 570.

One may buy Idea Cellular  for a target price of Rs 170 and keep a stoploss at Rs 157.

One may buy United Breweries  for a target price of Rs 760 and keep a stoploss at Rs 712.


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Eicher Motors' Q2 profit may double to Rs 184 cr: Edelweiss

Written By Unknown on Minggu, 10 Agustus 2014 | 14.02

Edelweiss estimates Eicher Motors' revenues to grow 31 percent year-on-year. "Revenue growth is expected to be driven by a sharp 87 percent YoY volume growth in Royal Enfield and 4 percent volume growth in commercial vehicles," it says.

Moneycontrol Bureau

Eicher Motors  will be announcing its second quarter results for calendar year 2014 on Monday. The company has been delivering very strong earnings due to spectacular performance of Royal Enfield division. That trend is likely to continue this quarter as well.

Edelweiss estimates profit after tax to jump 2-fold to Rs 184 crore and revenues to grow 31 percent year-on-year to Rs 2,186 crore during the quarter. "Revenue growth is expected to be driven by a sharp 87 percent YoY volume growth in Royal Enfield and 4 percent volume growth in commercial vehicles," it says.

The company follows January-December (calendar) as its financial year.

Consolidated operating profit margin is expected to expand 60 basis points quarter-on-quarter and 220 basis points year-on-year to 12.1 percent on the back of better operating leverage and benign commodity costs, says Edelweiss.

Analysts expect motorcycle volumes to double in the next three years. Antique expects 0.5 million motorcycles sales in CY16 versus 178000 in CY13.

In Q2CY14, Royal Enfield volumes jumped 87 percent year-on-year to 73,494 units and commercial vehicles volumes rose 4 percent to 11,308 units during the same period.


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'Will intervene when innocents are facing massacre'

President Barack Obama today said the US would intervene everytime it could to prevent "massacre of innocent people", justifying his decision to carry out targeted airstrikes in Iraq against Islamist militants.

"The US cannot and should not intervene everytime there's a crisis in the world. But when there's a situation like the one on this mountain -- when countless innocent people are facing a massacre, and when we have the ability to help prevent it -- the US cannot just look away," Obama said.

Also read: Obama says won't let Islamic militants create caliphate: NYT

"That's not who we are. We are Americans. We act. We lead," he said in his weekly address to the nation.

Thousands of families from the Yazidi minority community are trapped in the Sinjar mountains in north Iraq without food and water after fleeing the rampaging fighters of the Islamic State, also known as Islamic State of Iraq and Syria or ISIS.

Obama said he has directed US military to take action "to protect our American diplomats and military advisers serving in the city of Erbil."

His order to send warplanes back to Iraq, three years after pulling the last US troops out of the country, came after the IS made huge gains on the ground, seizing a dam and forcing a mass exodus of religious minorities.

"Thursday night, I made it clear that if they attempted to advance further, our military would respond with targeted strikes," Obama said. "We have Americans serving across Iraq, including our embassy in Baghdad, and we will do whatever is needed to protect our people."

The US operation began with air drops of food and water for thousands of people hiding from the Sunni extremist militants in a barren northern mountain range.

Many of America's allies backed the US intervention, pledging urgent steps to assist the legions of refugees.

"We have begun a humanitarian effort to help those Iraqi civilians trapped on that mountain. The terrorists that have taken over parts of Iraq have been especially brutal to religious minorities ? rounding up families, executing men, enslaving women, and threatening the systematic destruction of an entire religious community, which would be genocide," the US President said.


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13th Meeting of the FSDC Sub Committee - New Delhi

A meeting of the Sub Committee of the Financial Stability and Development Council (FSDC) was held today in New Delhi. Dr. Raghuram G Rajan, Governor, Reserve Bank of India, chaired the meeting. The meeting was attended by Dr. Arvind Mayaram, Finance Secretary; Dr. Gurdial Singh Sandhu, Secretary, Department of Financial Services, Dr. K.P. Krishnan, Additional Secretary, DEA; Shri U. K. Sinha, Chairman, Securities and Exchange Board of India (SEBI); Shri R. V. Verma, Officiating Chairman, PFRDA, Shri Ramesh Abhishek, Chairman, Forward Market Commission (FMC); Deputy Governors of RBI, Shri Harun R. Khan, Dr. Urjit Patel; Shri R. Gandhi and Shri S. S. Mundra; Executive Director of RBI, Shri Deepak Mohanty; and other officials.

The Sub-Committee reviewed the domestic macro economy and potential risks facing the financial system. A draft roadmap for creating standards and protocol for setting up account aggregation facility for financial assets was deliberated in the meeting.

The Sub-Committee reviewed the major decisions made in the union budget and discussed the road for implementing them. These included one single demat account for all financial assets; introduction of uniform KYC norms and inter-usability of KYC records across the financial sector; strengthening and deepening the markets for corporate bond, currency derivatives and interest rate futures; and participation of DFIs and FIIs in commodity market.

The Sub-Committee also reviewed the functioning of the various Technical Groups which are under its ambit.

Alpana Killawala
Principal Chief General Manager

Press Release: 2014-2015/293


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Prestige Estates Projects: Outcome of QIP committee meeting

Written By Unknown on Sabtu, 09 Agustus 2014 | 14.02

Prestige Estates Projects has decided to close the bidding for QIP of Equity Shares and approved the issuance of up to 25,000,000 Equity Shares Rs 10 each at an issue price of Rs 245 per Equity Share to eligible Qualified Institutional Buyers (the QIBs)

Prestige Estates Projects Ltd has informed BSE that the QIP Committee, at its meeting held on August 08, 2014, has decided to close the bidding for qualified institutions placement of Equity Shares of the Company (Issue) and approved the issuance of up to 25,000,000 Equity Shares Rs.10.00 each at an issue price of Rs. 245.00 per Equity Share, including a premium of Rs. 235.00 per Equity Share aggregating to approximately Rs. 6,125.00 million to eligible Qualified Institutional Buyers (the "QIBs") under the Chapter VIII of the SEBI Regulations.The Issue was opened on August 4, 2014.Source : BSE

Read all announcements in Prestige Estate


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Alstom TD terminates agreement for sell of Bengaluru property

With reference to the earlier letter dated April 03, 2014, in relation to the sale of Company's Bengaluru property, Alstom T & D India Ltd has now informed BSE that the Agreement for Sale dated December 16, 2013 in relation to the sale of the Bengaluru property stands terminated by Alstom T&D India Limited.

With reference to the earlier letter dated April 03, 2014, in relation to the sale of Company's Bengaluru property, Alstom T & D India Ltd has now informed BSE that the Agreement for Sale dated December 16, 2013 in relation to the sale of the Bengaluru property stands terminated by Alstom T&D India Limited.Source : BSE

Read all announcements in Areva T&D


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Avonmore Capital: Outcome of committee meeting

Avonmore Capital & Management Services Ltd has informed BSE that pursuant to the terms and conditions of the preferential allotment of Warrants, the Committee of the Board of Directors of the Company at its meeting held on August 08, 2014, has allotted 3000000 Warrants of Rs 10 each at price of Rs 25 each to allottees.

Avonmore Capital & Management Services Ltd has informed BSE that pursuant to the terms and conditions of the preferential allotment of Warrants, the Committee of the Board of Directors of the Company at its meeting held on August 08, 2014, has allotted 3000000 Warrants of Rs. 10/- each at price of Rs. 25/- each to allottees.The aforesaid Warrants carries a right to subscribe equal number of equity shares of nominal value of Rs. 10/- each at a price of Rs. 25/- each, on conversion within a period of 18 months from the date of Allotment.Source : BSE

Read all announcements in Avonmore Cap

To read the full report click here


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