Jubilant Life tanks 13%, Q2 loss widens; Macquarie positive

However, Macquarie has an outperform rating on the stock with a target of Rs 220 per share but has cut FY15/ FY16E earnings per share to Rs 23.60/Rs 30.30.

Moneycontrol Bureau

Shares of  Jubilant Life Sciences tanked 13 percent intraday on Wednesday after it reported dismal July-September quarter results. The drug company's net loss widened to Rs 94.11 crore in Q2 from Rs 80.58 in year-ago period.  

During the quarter, its net sales fell around 4 percent to Rs 1362.11 crore. Its EBITDA margin fell to 8.1 percent primarily due to warning letter at Spokane and slowdown in Advanced Intermediates business in Chinese market. 

However, Macquarie has an outperform rating on the stock with a target of Rs 220 per share but has cut  FY15/ FY16E earnings per share to Rs 23.60/Rs 30.30.

According to the brokerage, margins recovery will be the key. The company expects margin to recover going forward as Montreal facility is back to normal production and the Spokane facility will resume full production by 4Q FY15.

At 12:04 hrs Jubilant Life Sciences was quoting at Rs 148.00, down Rs 16.85, or 10.22 percent on the BSE.

Posted by Nasrin Sultana

14.03 | 0 komentar | Read More

Here are few stock trading ideas from Ashish Chaturmohta

Watch the interview of Ashish Chaturmohta of Fortune Equity Broker with Anuj Singhal & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.

Watch the interview of Ashish Chaturmohta of Fortune Equity Broker with Anuj Singhal & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.

14.03 | 0 komentar | Read More

Buy IRB Infra, Burnpur Cement, Marksans Pharma: Pankaj Jain

Pankaj Jain of Sunteck Wealthmax advises buying Marksans Pharma for a target price of Rs 64.90 and IRB Infrastructure for a target price of Rs 265.

In CNBC-TV18's popular show Bull's Eye, Pankaj Jain of Sunteck Wealthmax shares his trading strategies for the day.

One may go long in  Snowman Logistics for a target price of Rs 115 and keep a stoploss at Rs 103.

Buy  Burnpur Cement for a target price of Rs 15.90 and keep a stoploss at Rs 13.25.

One may go long in  Marksans Pharma for a target price of Rs 64.90 and keep a stoploss at Rs 57.75.

One may go long in  IRB Infrastructure for a target price of Rs 265 and keep a stoploss at Rs 248.

14.03 | 0 komentar | Read More

Margins may stay stressed; to grow 20% in FY15: Manjushree

Manjushree Technopack Limited  reported a weak set of earnings for July - September quarter. In an interview to CNBC-TV18, company MD Vimal Kedia spoke about the financial performance of the company in the quarter gone by and the road ahead.

According to him, cost pressure and competition impacted margins in Q2 preventing any price increase. Although plunging crude prices will eventually reduce raw material cost price, company's margins could remain under pressure, he adds.

Going ahead, he expects Manjushree Technopack to post a 20 percent revenue growth in FY15.

Below is the verbatim transcript of the interview:

Q: What went wrong in this quarter? I believe that at least on the top line you have shown a good growth of around 25 percent but on the operating margin front its come down to sub 20 percent. Why did we see this margin compression?

A: There as been a cost pressure towards the material as well as the manpower over the last year. The power tariff also has been increasing. There is a competition in the market in our area of pet bottles that we manufacture from the small people and unorganized sector. The customers are not willing to increase the prices hence we see this downtrend. However we are trying to do our best to bring down the other cost and we look forward for a better quarter in the third and fourth quarter.

Q: Are you still facing these higher cost pressures, increased competition and inability to raise your prices even in Q3 quarter? In Q3, what would your margins look like. Is there a scope for it to improve or will it come under further pressure?

A: We can't say correctly but it's under pressure because there is a huge competition over last two years. Large capacities have been built in the preform segment, which we supply to beverages majors and when the supply is more the buyers get a chance not to increase the prices and still try to buy at a lower price. However, with our quality and other parameters we are trying to increase the profitability by increasing the prices, which again is resisted by the customer.

Q: We normally look at it on a year-on-year basis but what went so right that in quarter one your numbers were looking absolutely blockbuster. Your topline was a good Rs 170 crore; your margins were around 22 percent, the profitability jumped up. What was so different in the first quarter of this year and what's so different in the second quarter?

A: Normally ours is a seasonal business also so the first quarter is always better than other quarters and due to higher sales the profitability increases. However if you compare the sales over the last quarter the sales are down by almost 20-25 percent and this is a normal feature. However there is a pressure on the cost that I already explained to you, which we are trying to solve it by many features and many actions taken by our end and try to increase the profits by increasing the prices with all the customer.

Q: How soon could you increase your prices?

A: It's revised with our customers normally once in a year but this year there is a lot of resistance because the fast-moving consumer goods (FMCG) market also is not reacting very positively.

Q: Just want to ask you at the halfway mark you have done close to around Rs 275 crore and it's seen a good growth of around 35 percent on a year-on-year basis that is at the halfway mark. Here you have been doing a 30 percent compound annual growth rate (CAGR) over the last few years is that possible this year and if that happens then will you be closer towards Rs 550-600 crore on the topline?

A: We should be able to grow by 20 percent over last year because of a larger base. We don't think we can cross Rs 550 crore however always the ambition is to get more and more but then we can't say if there are orders in the last quarter once we start the onset of decision. There may be improved numbers.

Q: So 20 percent revenue growth is what you are forecasting for FY15?

A: Right.

Q: Can you tell us little more about the promoter holding in the company. Where does it currently stand at, are the promoters looking to increase their stake. How much of they already bought by the creeping acquisition route?

A: Promoters are holding 71 percent as on today. In the current financial year we increased it by two percent last year it was 69 percent. We don't propose to increase our holdings at these prices because the prices are abnormally high. So we still hold the majority so we don't need to increase our shareholding further.

Q: What is your total capacity at present? I believe that there was an addition of around 20-25 percent so what will that mean in terms of numbers may be in the next couple of years?

A: At present our rated capacity is 80,000 metric tonnes and last year we achieved close to 70 percent that is about 60,000 metric tonnes. This year we should be doing about 65,000 to 70,000 metric tonnes and as per the sales growth the capacity also will be utilised with the built up of our last plant year before. There is a pressure on the margins because of higher debt and that should come down in times to come.

Q: How does the falling crude price benefit you all and how will it show in your profit and loss (P&L)?

A: Falling crude prices definitely will reduce our raw material prices in due course but the raw material sellers have a habit of increase the price immediately when it goes up but when it comes down they slow it down they don't give us the effect which actually should have been given. Although the international markets are down, we are not seeing the effect in India.

14.02 | 0 komentar | Read More

Bull or bear: Is BHEL about to enter a cyclical upturn?

Shares in Bharat Heavy Electricals Ltd (BHEL)  have been on an upturn recently amid hopes it would be a beneficiary of steps taken by the new government to revive India's flagging power sector.

Over the past six months, BHEL stock has risen about 33 percent, compared to an 18 percent gain for the Sensex while the stock has jumped over 80 percent of the past year, compared to a 30 percent rise for the benchmark.

CNBC-TV18's Latha Venkatesh and Sonia Shenoy caught up with two analysts who share different outlooks for the stock going forward. Dhirendra Tiwari of Antique Institutional Equities is bullish on BHEL and has a target price of Rs 315 on the stock, an upside of 27 percent from current levels, while Amol Rao of AnandRathi is neutral on the stock.

Read on to know their respective views.

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

Sonia: You have a fairly positive view on BHEL, why do you think the stock has rallied so much and when do you expect to see any kind of fundamental earnings recovery in the company?

Tiwari: You need to understand what Bharat Heavy Electricals (BHEL) is all about. There is the case for strong revival in power equipment market today. So two things, one BHEL is fundamentally strong company with very strong management and products. The problem with the stock performance and de-rating was the market was bad.

Now there are two aspects to the market, the near term revival is obviously visible. The second aspect is that if one looks at the long-term trend in the power market in India, we are of the opinion that there is likely scenario of acute shortage of power three-four years down the line. So what happens that policy makers in power business take a very holistic view. So today if one has to look up and see what is the power environment in 2018-19, one has to plan from today.

So based on my meetings with the top bureaucrats and the policymakers in Delhi, there is serious realisation that there is acute shortage waiting for India in next four-five years. So there is policy action towards that and therefore the market is expected to revise significantly. BHEL being the strong contender in the boiler-turbine-generator (BTG) market will benefit meaningfully from that as well.

Latha: When do you see orders coming in for BHEL?

Tiwari: The important thing is to understand what power is. Today there are three aspects of the power producers, there is an independent power producer (IPP), there is state electricity board and there are central PSUs. When you say there is surplus power or the power producers are in bad shape, you are talking about IPPs. So that is one segment of the market and state generation companies, they were not in the market. So why should I assume that if IPP is struggling, then the whole power sector is in a mess.

What I believe is there is a particular cycle, there was a cycle of IPPs for last four-five years and there is going to be a cycle for the central PSUs and state PSUs for next four-five years.

You will be surprised to know that in last seven months about 10000 megawatt power projects have already been awarded. I know for sure that there is a pipeline of 15000-16000 megawatt from mainly state and central PSUs to be awarded in next six-seven months. So the basic argument that where are the power projects, is already busted because we already have seen awarding of really 10000-11000 megawatt power projects in last seven-eight months. So that point is already taken care of.

The issue today with BHEL is that can we see the sustained growth and I believe that there is a likelihood of sustained growth in this particular market now.

Sonia: Last quarter the management already expressed that hope of recovery. If you look at what they mentioned in their conference call, they stated that as against 6.2 gigawatts of orders finalised in FY14, they expect 16 to 18 gigawatts by the end of FY15. So they had expressed that improvement in orders. How much of that do you think is already priced into the stock in this run-up or do you see more to go on the upside?

Tiwari: It is not priced in at all. If you look at what can result into. When you look at 16000-18000 megawatt of power projects, there is one state Telangana, this state has no power plants. There is new CM, new project and basically they are looking at significantly making state power.

Now if you go through the news of recent times you will understand that BHEL has signed an MOU with Telangana state government to set up 6000 MW power projects. Now that is not included in the 16-18000 mw that we are talking about.

Since this is an MOU this kind of order can straightaway come to BHEL over next five-six months. Understand the value of that, it is Rs 30,000 crore order value for BHEL. So what can happen to the stock. So today when we see at BHEL there is concern of ordering which is probably being taken care of, there is concern of margin which I think is going to be a bigger surprise. I firmly believe that BHEL can go to 15-16 percent margin and therefore it can result into meaningful earnings recovery. So if I look at this year definitely no earnings growth, probably there will be a degrowth but next year definitely is going to be at least 10-12 percent kind of earnings growth. But FY17 could be a year where one can look at 50-60 percent kind of earnings growth.

Now if you look at BHEL stock price it is a long gestation business so typically if you have studies BHEL for last 10-12 years you will realise that the market value discounts at least three years ahead of earnings. So if I see earnings recovery in FY17-18, I would definitely look the stock will start reacting today itself. So that is the reason I am saying that it is not discounted fully. So it is just Rs 50,000 crore market cap stock.

14.02 | 0 komentar | Read More

India Cements: Q2 results on Nov 12, 2014

India Cements has informed that meetings of the Audit Committee and Board of Directors of the Company will be held on November 12, 2014, to consider, the unaudited financial results for the quarter and half-year ended September 30, 2014 (Q2).

India Cements Ltd has informed BSE that meetings of the Audit Committee and Board of Directors of the Company will be held on November 12, 2014, inter alia, to consider, the unaudited financial results for the quarter and half-year ended September 30, 2014 (Q2).Source : BSE

Read all announcements in India Cements

14.02 | 0 komentar | Read More

FTIL may go Satyam way, but legal tussle could ensue

Moneycontrol Bureau

In what would be only the second instance since the Satyam Computers scam broke out in 2009, the government is considering superseding the board of Financial Technologies India Limited (FTIL) , the listed parent firm of scandal-tainted National Spot Exchange Limited (NSEL), according to a report in the Indian Express this morning which quoted sources.

FTIL is promoted by Jignesh Shah, who was arrested and later granted bail in the Rs 5,600 crore NSEL case, in which the spot exchange was, in August 2013, discovered to have violated regulations by facilitating forward trades without ensuring adequate underlying collateral. The trades initially fetched solid returns for investors but later turned out be a Ponzi scheme, according to the Mumbai police .

Shah owns 45.63 percent in FTIL, which in turn owns almost 100 percent stake in NSEL. However, Shah has denied wrongdoing, saying he was unaware of goings-on at the spot exchange and put the blame on its erstwhile management.

The regulator, Forward Markets Commission, has appointed its own nominees on the NSEL board and ordered FTIL to shed its stakes in any exchange it promoted: three major exchanges it anchored were commodity futures exchange MCX , stock exchange MCX-SX and the NSEL spot exchange. Before that, the Arvind Mayaram committee had recommended a management takeover of all three exchanges.

However, both the merger as well as supersession of the board could run into legal issues, considering FTIL is a listed entity and forcing it to essentially assume all of NSEL's liabilities could be considered detrimental to their interests.

In a discussion with the CNBC-TV18's Menaka Doshi in May this year , Shuva Mundal of AZB, laywer for the NSEL Investor Forum, said that the legal basis for supersession of FTIL's board would depend on whether it is proved if FTIL was actively involved in perpetrating the fraud. "If you ask me at this stage there are not enough facts out there to demonstrate that," he conceded.

While the above discussion took place several months ago, not much has moved in the case and while a criminal investigation is on by the CBI and Mumbai police as well as a court case is being heard, wrongdoing on Shah's or FTIL's part has not been proved.

A similar point was raised H Jayesh, another lawyer, who said such a takeover would hinge on proving the fact that FTIL set up NSEL with the sole intention of perpetrating fraud.

"That is the major intent out there we are talking about. If not so then on what basis are we talking about going after the assets of FTIL," he said, adding that even if a few directors of FTIL, Shah for instance, were proved to have the intent of committing fraud, "attributing the intent to a corporate entity as a whole was a different thing."

Shah's legal defence team has also rubbished parallels between Satyam and FTIL. In the former case, its founder Ramalinga Raju had confessed to inflating cash and profits at the firm for years, while in the case of FTIL, "there is the strongest possible denial of any wrongdoing," the defence laywers said. "You cannot penalise the holding company's shareholders for a mishap at one of its subsidiaries."

Some lawyers also insisted that there was a bit more needed to "lift the corporate veil", where key shareholders, who are normally not held liable for misgivings on the part of illegal activities company, can be prosecuted.

"If there are sufficient assets available [to recover money lost in the NSEL fraud] there is no question of lifting the veil and going after the assets of FTIL," said lawyer Akila Agarwal of Amarchand, who advised the government during the Satyam scam, pointing to the fact that the government has already attached assets worth thousands of crores of key NSEL borrowers to try and recover money. "The question of lifting the veil arises only when there are insufficient assets on the primary people concerned in NSEL."

14.02 | 0 komentar | Read More

Nifty holds 8000 amid consolidation; HUL slips over 1%

HUL traded weak ahead of it's second quarter earnings later today, down over a percent. A CNBC-TV18 poll expects sales growth to remain muted across most categories with 5 percent year-on-year volume growth. Operating profit margin is likely to see an improvement of 90 bps.

12:24

Moneycontrol Bureau The market remained directionless in the expiry week. The 30-share BSE Sensex declined 6.68 points to 26844.37 while the 50-share NSE Nifty held 8000 level, down 2.50 points to 8012.05. Banking and financials, and capital goods stocks supported the market while auto, FMCG and oil stocks declined.

Adrian Mowat of JPMorgan turned more bullish on India post the Brazilian election outcome, saying he would add more money into Indian equity market especially into banks and cyclicals like autos and building materials. He expects 20 percent returns from Indian market in next 12 months.

DLF and Jindal Steel topped the selling list in the Nifty, down nearly 8 percent. As far as DLF is concerned, reports indicated that the new BJP government in Haryana is going to heavily probe the company's land deals with Robert Vadra (son-in-law of Sonia Gandhi). In case of JSPL, report indicated that CBI registered preliminary enquiry against the company and some environment ministry officers for alleged diversion of forest land.

In key results today, HUL traded weak ahead of it's second quarter earnings later today, down over a percent. A CNBC-TV18 poll expects sales growth to remain muted across most categories with 5 percent year-on-year volume growth. Operating profit margin is likely to see an improvement of 90 bps.

L&T, Bharat Electronics and Walchandnagar Industries shot up 1-10 percent on the hope of additional orders after the centre gave nod to defence projects worth Rs 80,000 crore.

Tata Motors fell over 2 percent followed by ONGC, Reliance Industries, Wipro and NTPC with around a percent. However, Dr Reddy's Labs and BHEL gained 2-3 percent.

11:07

BHEL, Dr Reddy's Labs, HDFC, GAIL and SBI are major gainers while Tata Motors, ONGC, HUL, M&M and NTPC are major losers in the Sensex. DLF is down 8 percent.

Read More »

10:00

Commercial vehicle maker Tata Motors and utility vehicle maker Mahindra & Mahindra fell more than 1.5 percent on profit taking. Two-wheeler manufacturers Hero Motocorp and Bajaj Auto declined 0.8 percent each while car maker Maruti Suzuki lost 0.4 percent.

Read More »

09:11

Dr Reddy's Labs, TCS, BHEL and HUL are top gainers in the Sensex. Among the losers are Wipro, GAIL, Cipla and Sun Pharma.

Read More »

14.02 | 0 komentar | Read More

Buy Kalpataru Power, Den Networks: Shahina Mukadam

According to Shahina Mukadam of Varun Capital, one may buy Kalpataru Power Transmission with a day target of Rs 163 and Den Networks with a stoploss of Rs 176.

In CNBC-TV18's popular show Bull's Eye, Shahina Mukadam of Varun Capital shares her trading strategies for the day.

Kalpataru Power Transmission  has moved up on good volumes. The transmission and distribution (T&D) business is doing pretty well with good growth and order book as well as profitability. I believe FY15 valuations are quite attractive, price to earnings (PE) would be in single digits. I buy it with a day target of Rs 163 and a stoploss of Rs 148.

Den Networks  is the India's largest cable network distributors. In terms of business the company is showing pretty good growth. Profits were affected due to some non-recurring items. I believe FY15 would be much better. I buy it with a stoploss of Rs 176.

Godrej Industries , the technical charts are showing very good patterns. It is bouncing up from its double bottom. I believe this bounce could take it up to Rs 300 odd in the short-term. The company gives you an exposure across segments which include chemicals, agri-feeds also in properties through Godrej properties. I buy it with a stoploss of Rs 289.

14.02 | 0 komentar | Read More

The Future Of Tax!

Published on Sat, Oct 25,2014 | 17:40, Updated at Sat, Oct 25 at 17:42Source : CNBC-TV18 |   Watch Video :

This week, The Firm reports from on location the 68th Congress Of The International Fiscal Association. 1000 tax professions in Mumbai debating Tax Morality, Double Non-Taxation, Base Erosion, Profit Shifting, Digital Economy Taxation & Treaty Abuse. As the global economy is awash with tax challenges, The Firm focussed on revenue reform – what are countries doing to stake claim to their 'Fair Share Of Taxes'. The many trillion dollar question is the impact on how MNC's do business across the world. In this special episode of The Firm, on location the 68th Congress Of The International Fiscal Association, Menaka Doshi speaks to four of the world's best tax experts - Porus Kaka, Senior Advocate & President - International Fiscal Association; Philip Baker -QC, Gray's Inn; Michael Lennard, Chief - International Tax Cooperation, United Nations & Pramila Shrivastav, Former Chief Commissioner - Income Tax.

14.03 | 0 komentar | Read More

Fresh ally trouble: BJP-SAD ties under duress?

It was a strange situation during the campaigning phase of the Haryana's assembly elections. BJP alliance partner in Punjab Shiromani Akali Dal (SAD) led by Parkash Singh Badal and his son Sukhbir Badal went all out to support the Indian National Lok Dal. The Badals insisted they had longstanding ties with the Chautalas and had informed the BJP leadership of their support to the INLD - despite how important winning Haryana was to the BJP.

"SAD and INLD together are contesting for 90 seats. The next government will be that of Om Prakash Chautala. Haryana progressed during Chautala's rule," said Sukhbir Singh Badal, President, Shiromani Akali Dal

The tension between the two parties soon rose to the surface. Former BJP MP Navjot Sidhu hit out at the political positioning of the SAD in Haryana.

"These people (SAD) are the same people who hug and kiss BJP in Punjab and wrestle with it in Haryana. How can our alliance partner in Punjab support a convicted person for the post of the Chief Minister? They are stabbing us in the back," Navjot Sidhu, Leader, BJP, said.

Other BJP leaders in Punjab have also begun to say the party should distance itself from the SAD and contest the 2017 assembly elections in Punjab on its own - powered by the Modi wave. The Punjab BJP unit though maintains that the party will decide on its alliance with the sad at the appropriate time.

According to Kamal Sharma, President - Punjab Unit, BJP, "BJP has become stronger under Modi. Our alliance with the SAD is strong. We will cross the bridge when we come to it."

The Akali Dal has denied any rift - saying ties with the BJP are as solid as ever.

Bikram Majithia, Minister, Punjab, said: "BJP relation with SAD is a deep relationship. When it came to Modi becoming Prime Minister we were the first to support him….if you ask us a hundred times also...this relationship will stay together."

BJP has been the minor partner in the SAD-BJP alliance in Punjab. With 12 seats in the 117 member assembly, hitting the 59 mark to form the government on its own in 2017 might be a challenge. However, the results of the Haryana elections where the BJP went from 4 seats to 47 to form a majority government - may propehsize a favourable outcome for the party in Punjab.

14.03 | 0 komentar | Read More

PM Modi inaugurates HN Reliance Foundation Hospital

Prime Minister Narendra Modi on Saturday inaugurated the Sir HN Reliance Foundation Hospital and Research Centre in South Mumbai.

The hospital, in its 90th year, has been completely rebuilt by Reliance Foundation, into a modern 19-storey tower with two heritage wings. The foundation is headed by Nita Ambani.

The rebuilt hospital has collaborations with John Hopkins, MD Anderson Cancer Centre, Massachusetts General Hospital and the University of Southern California. It has all modern facilities.

The hospital will reserve a fifth of its capacity for the underprivileged and provide 10 percent beds for free to the needy and another 10 percent at subsidised rates.

Welcoming the Prime Minister and Maharashtra Governor Vidyasagar Rao at the inauguration Nita Ambani said: "We re-dedicate Sir HN Reliance Foundation Hospital to the people of Mumbai", adding that the hospital will treat "each patient as equals".

Mrs Ambani thanked PM Modi for the initiatives taken by him saying "each of PM's initiatives have a connect to healthcare".

Around 50 doctors of India origin across the world have joined the hospital, she said, adding: "Good health is a fundamental right. It is non-negotiable. Everyone deserves to live life to the fullest. Only a healthy nation can be prosperous."

Addressing the inaugural ceremony, PM Modi said that the need of the hour is preventive healthcare in order to scale down the outbreak of diseases and boost the quality of health in the country.

The PM lauded the efforts of Reliance Foundation in giving a new lease of life to Mumbai's first general hospital built in the year 1925. The PM said that in a way it is a new beginning for the hospital.

Modi stressed on Make in India initiative to develop medical equipment locally, which will help in cutting costs. He even favoured the need to integrate tele-medicine to enable expert opinion even for people living far away is extremely important.

The PM mentioned that another important aspect of good healthcare is the provision of clean drinking water. He went on to exemplify his point by lauding the efforts the Madhya Pradesh government for starting a programme encouraging children to wash their hands.

"The journey from health insurance to health assurance is long and has to be achieved," Modi said, adding that all political parties should have health as their one point agenda.

He also stressed on holistic health and said that he has been pushing for an International Yoga Day.  

Kokilaben Dhirubhai Ambani presented a memento to PM at the inaugural function.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries , appreciated the presence of Prime Minister Modi and Governor of Maharashtra at the event. He also lauded PM's US visit.

Present at the inauguration were Amitabh Bachchan, Gulzar, Shah Rukh Khan, Aamir Khan, Hrithik Roshan, Paresh Rawal, Rishi Kapoor, Neetu Kapoor, Sonakshi Sinha, Saif Ali Khan, Kareena Kapoor, Aishwarya Rai, Bharat Ratna Sachin Tendulkar, Sunil Gavaskar, Praful Patel, Kajol, Rani Mukherjee, Sonali Bendre, union minister Nitin Gadkari and Maharashtra BJP leaders Devendra Fadnavis, Vinod Tawde and other celebrities.

(With inputs from agencies)

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.

14.03 | 0 komentar | Read More

HOV Services appoints Lakshmi Kumar as additional director

HOV Services has informed that the board of directors vide circular resolution dated October 23, 2014, have approved the appointment of Mrs. Lakshmi Kumar as an additional director effective October 24, 2014. The Board has considered her as an independent director in terms of the provisions of Section 149 of the Companies Act 2013.

HOV Services Ltd has informed BSE that the Board of Directors vide circular resolution dated October 23, 2014, have approved the appointment of Mrs. Lakshmi Kumar as an Additional Director effective October 24, 2014. The Board has considered her as an Independent Director in terms of the provisions of Section 149 of the Companies Act 2013. Mrs. Lakshmi Kumar shall hold office as an Additional Director till the ensuing Annual General Meeting of the Company.Source : BSE

Read all announcements in HOV Services

14.02 | 0 komentar | Read More

VEDAVAAG Systems: Outcome of board meeting

VEDAVAAG Systems has informed regarding the outcome of board meeting of the company held on October 24, 2014.

To read the full report click here

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Coal India appoints M/s Chaturvedi Co. as statutory auditor

Coal India has informed that Office of Comptroller and Auditor General of India has appointed M/s Chaturvedi & Co., Chartered Accountants, 60, Bentinck Street, Kolkata - 700 069 as statutory auditor of the company for the year 2014-15 vice De Chakraborty & Sen, Chartered Accountants, Kolkata.

Coal India Ltd has informed BSE that Office of Comptroller and Auditor General of India has appointed M/s Chaturvedi & Co., Chartered Accountants, 60, Bentinck Street, Kolkata - 700 069 as Statutory Auditor of the Company for the year 2014-15 vice De Chakraborty & Sen, Chartered Accountants, Kolkata.Source : BSE

Read all announcements in Coal India

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Gold poised for weekly loss on strong US data, dollar

Data on Thursday showed that new claims for US unemployment benefits held below 300,000 for a sixth straight week last week, suggesting the labour market was shrugging off jitters over a slowing global economy.

Gold dipped for a third session on Friday and was headed for a weekly loss as a firmer US dollar and robust economic data dented the metal's appeal as a hedge.

Fundamentals

* Spot gold eased 0.1 percent to USD 1,230.48 an ounce by 0020 GMT, after slipping over 1 percent in the previous two sessions.

* The metal is headed for a weekly loss of 0.6 percent - its first drop in three weeks - as the dollar gained after two weekly declines in a row.

* Palladium was the best performer among precious metals for the week, with a near 4 percent jump.

* The dollar rallied on Thursday as investors plowed cash back into riskier asset classes, underpinned by promising US data and stronger-than-expected manufacturing reports in Europe and China.

* A strong greenback makes gold more expensive for holders of other currencies.

* Data on Thursday showed that new claims for US unemployment benefits held below 300,000 for a sixth straight week last week, suggesting the labour market was shrugging off jitters over a slowing global economy.

* Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster, but US manufacturing activity sputtered to its slowest since July, underscoring the uneven nature of the post-crisis global economy.

* The data, however, still managed to calm investor nerves after fears of a global slowdown prompted a sharp sell-off in global equities and the dollar, dimming gold's appeal as a safe-haven.

* In news from the miners, Peruvian precious metals miner Hochschild posted a decline in third-quarter production, hit by lower grades at its Pallancata mine and a two-week strike at its Arcata asset, but said it was still on track to reach its annual target.

* African Barrick Gold Plc tightened its costs target for the full year as it increased output while also cutting jobs to beat the sharp drop in gold prices.

14.02 | 0 komentar | Read More

Asian markets mixed; Nikkei gains, Taiwan Weighted falls

Japan's Nikkei 225 Average climbed 120.32 points or 0.79 percent to 15,259.28 whereas Singapore's Straits Times fell 11.74 points or 0.36 percent to 3,224.76.

Asian equities were mixed on the last trading day of the week as concerns over Ebola and China offset gains on Wall Street.

A doctor in New York tested positive for the Ebola virus, the New York Times reported early on Friday, after returning from West Africa last week. Speaking at a press conference, New York Mayor de Blasio said officials believe "very few" people had contact with the doctor since his return. Markets reacted quickly to the news, with the Japanese yen strengthening 0.3 percent against the greenback and Dow futures dropping over 70 points before paring losses.

Meanwhile, attention in Asia was on China where official data showed new home prices falling 1.3 percent on year in September, the first annual drop in nearly two years. The report heightened concerns over the country's property market, which many experts say poses the single biggest risk to the economy.

US stocks surged on Thursday, with all three major indices climbing over 1 percent each, following strong third-quarter results from Caterpillar, 3M and General Motors. Meanwhile, data on Thursday showing the flash composite purchasing managers index (PMI) for the euro zone rising to 52.2 in October, from 52 in September, helped to ease some of the global growth concerns that recently plagued markets.

China's Shanghai Composite was up 6.47 points or 0.28 percent at 2,308.88 while Hong Kong's Hang Seng declined 33.10 points or 0.14 percent to 23,300.08.

Japan's Nikkei 225 Average climbed 120.32 points or 0.79 percent to 15,259.28 whereas Singapore's Straits Times fell 11.74 points or 0.36 percent to 3,224.76.

South Korea's Seoul Composite declined 10 points or 0.52 percent to 1,921.65 and Taiwan Weighted lost 85.38 points or 0.98 percent to 8,645.69.

14.02 | 0 komentar | Read More

Brent slips towards $86 as NY Ebola case hits risk appetite

Brent reversed sharp overnight gains and fell towards USD 86 a barrel on Friday as investors' risk appetite took a hit from news that a doctor in New York City tested positive for Ebola.

The first confirmed case in America's largest city has renewed fears about the spread of the virus, prompting a tumble in US stock futures, while Asian shares also lost ground.

"Such news is not good for risk assets, with investors looking for a flight to safety. This could curb travel and that's how it could feed through to the oil markets," said Ben Le Brun, market analyst at OptionsXpress in Sydney.

"We could also be seeing some profit-taking after very strong overnight gains."

The front-month contract of international oil benchmark Brent was down 61 cents at USD 86.22 a barrel by 0233 GMT. Brent settled USD 2.12, or 2.5 percent, higher on Thursday, its largest percentage gain in a day since June 12.

US crude for December delivery fell 70 cents to USD 81.39 a barrel, after closing USD 1.57 higher, its largest daily gain since September 16.

Saudi supplies lower

Oil markets had risen sharply on news that crude supplies to the market from Saudi Arabia, the world's top oil exporter, fell to 9.36 million barrels per day (bpd) in September, down 328,000 bpd from August, according to an industry source.

This comes after OPEC's (Organization of Petroleum Exporting Countries) September world oil report that Saudi pumped 9.7 million bpd, up from 9.6 million bpd in August. The difference could be due to how much oil was put into storage. Broadly stronger than expected economic data from the Eurozone also provided some support.

"Certainly this was the good news that the market was looking for after news on weakening demand. And I think with the majority of the market in a short position, any positive news will give a major reaction to the upside. It's all over to the OPEC meeting now," Le Brun of OptionsXpress said.

The 12-member OPEC will meet on Nov. 27 to review its output target of 30 million bpd for the first half of 2015. So far, only a minority of members have called for an output cut, including Libya.

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Pak violates ceasefire twice; fires at BoPs in Samba, Jammu

In yet another ceasefire violation, Pakistan Thursday again resorted to firing on Border Out Posts (BoPs) along the International Border (IB) in the Samba and Jammu districts of Jammu and Kashmir.

"Pakistan Rangers resorted to small-arms firing at a few BoPs along IB in Ramgarh and Arnia sectors at 0100 hours and 0400 hours today," a BSF spokesman said here.

The BSF troops guarding the border retaliated to the action by Pakistan, he said, adding that "there was no loss of life or injury to anyone in the firing".

While Ramgarh is in Samba district, Arnia is in Jammu. This is third ceasefire violation since yesterday when Pakistani troops violated the ceasefire by firing on the Narianpur BoP in Ramgarh sector at around 2030 hours.

The ceasefire violation came 72 hours after the last instance of firing from across the border by the neighbouring country's troops on the night of October 19 in the Pargwal sector of Jammu district.

Pakistani troops had also violated the ceasefire on October 18 and 17 by resorting to firing on BoPs in the Makwal and Allah mahi Da Kothay (AMK) areas of Jammu district.

Before that, the ceasefire was violated twice on October 17 along the Line of Control (LoC) in Hamirpur sector of Poonch district. Ceasefire violations also took place on October 16
night.

In firing from across the LoC in the Saujian-Kirni-Shahpur belts of Poonch on October 15, a seven-year-old boy, Riyaz of Kuiyian Gotirian village, was injured.

One Ramesh Chander of Arnia town in Jammu district, who was admitted to hospital after sustaining injuries during shelling by Pakistan on Oct. 6, succumbed on Tuesday, thereby
taking the toll to 10 in the firing by Pakistan from across the IB and LoC in Jammu region since October 1.

Ceasefire violations by the neighbouring country since the beginning of this month have also left over 95 injured, including 13 security personnel.

Around 30,000 people have fled their homes to avoid the shelling, leaving 113 hamlets deserted in the border areas.

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Microsoft looks set to drop Nokia name from smartphones

According to a post on Nokia France's Facebook page on Tuesday, the page will change its name to Microsoft Lumia "in the coming days."

Microsoft Corp looks set to ditch the Nokia name from its Lumia range of smartphones just months after buying the Finnish company's handset business.

According to a post on Nokia France's Facebook page on Tuesday, the page will change its name to Microsoft Lumia "in the coming days." (https://www.facebook.com/NokiaFrance/posts/10152859354854703)

Microsoft declined comment.

Under the terms of the USD 7.2 billion deal, which was struck in September 2013 and completed in April, Microsoft acquired Nokia's handset business, though not the name of the company itself.

Finland's Nokia continues as a networks, mapping and technology licensing company. It owns and manages the Nokia brand and only licenses it to Microsoft.

Microsoft has said in the past it plans to license the Nokia brand for its lower-end mobile phones for 10 years and to use the name on its smartphones only for a "limited" time, without saying how long that might be.

New Microsoft Chief Executive Officer Satya Nadella has begun to reduce the scale of its phone-making operations. Of the 18,000 job cuts he announced in July, about 12,500 came from the unit acquired from Nokia.

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Modi visits Siachen to meet soldiers on Diwali

Prime Minister Narendra Modi who is scheduled to spend this Diwali with the flood-hit victims of Jammu and Kashmir is also visiting the soldiers posted at Siachen Glacier.

Prime Minister Narendra Modi who is scheduled to spend this Diwali with the flood-hit victims of Jammu and Kashmir is also visiting the soldiers posted at Siachen Glacier.

Modi left for Siachen around 7:30 am on Thursday. "Friends, I am leaving for Siachen Glacier. It's my good fortune that I will be able to spend time with our brave soldiers on this special day," he tweeted before starting his journey.

"Am going to Siachen with a message from each and every Indian to our soldiers- that we stand shoulder to shoulder with you," read another tweet from the PM's personal Twitter handle.

After his Siachen visit, Modi is expected to reach Srinagar at around noon. The Hurriyat Conference has called for shut down in the Valley in view of Modi's visit. However, Chief Minister Omar Abdullah has welcomed the PM's gesture and has demanded a special package for the state which is limping back to normalcy after the devastating floods.

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Kotak Mahindra Bank Q2 profit jumps 26% on other income

Other income of the bank jumped 57 percent to Rs 466.5 crore from Rs 297 crore during the same period.

Moneycontrol Bureau

Private sector lender Kotak Mahindra Bank 's second quarter standalone profit after tax beat street expectations, rising 26 percent year-on-year to Rs 444.5 crore led by strong other income and lower provisions. Profit in the year-ago period was Rs 352.54 crore.

Standalone (includes only banking operations) net interest income rose by 12.4 percent, in-line, to Rs 1,039 crore in the quarter ended September 2014 compared to Rs 924.11 crore in same quarter last year.

According to the average of estimates of analysts polled by CNBC-TV18, profit was estimated at Rs 406 crore and net interest income at Rs 1,034 crore for the quarter.

Other income of the bank jumped 57 percent to Rs 466.5 crore from Rs 297 crore during the same period.

Asset quality was stable during the quarter with the standalone gross non-performing assets (NPA) at 1.89 percent as against 1.88 percent in previous quarter and 1.97 percent in the year-ago period. Net NPA stood at 1 percent compared to 0.98 percent Q-o-Q and 0.96 percent Y-o-Y.

More to come...

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Buy Tex Rail, Tata Chem, Federal Bank: Nooresh Merani

Nooresh Merani of Analyse India recommends buying Federal Bank for a target price of Rs 150 and Tata Chemicals for a target price of Rs 450.

In CNBC-TV18's popular show Bull's Eye, Nooresh Merani of Analyse India shares his trading strategies for the day.

Buy  Escorts  for a target price of Rs 180 and keep a stoploss at Rs 150

Buy Texmaco Rail and Engineering  for a target price of Rs 100 and keep a stoploss at Rs 85

Buy Tata Chemicals  for a target price of Rs 450 and keep a stoploss at Rs 370

Buy Federal Bank  for a target price of Rs 150 and keep a stoploss at Rs 135

14.02 | 0 komentar | Read More

Interact with CNBC-TV18: 'Like auto ancillary Bharat Forge; positive on Exide'

Sanjay Dutt, Director, Quantum Securities, said the outlook is positive on the stock. However, according to him, the auto ancillary space has a problem with margins, particularly the tier-II ones, which rarely manage to get the pricing power or the liquidity from the buyers.

On Moneycontrol Messageboard, boarder Balasubramanian from Chennai asked about the outlook for Exide  in the long-term.

Replying to his query, Sanjay Dutt, Director, Quantum Securities, said the outlook is positive on the stock. However, according to him, the auto ancillary space has a problem with margins, particularly the tier-II ones, which rarely manage to get the pricing power or the liquidity from the buyers.

"In the sense they are always squeezed because of margins because wherever a Tata Motors  or Bajaj  or anyone is buying for them is always squeezing them with margins. So they don't leave much on the table for the ancillary manufacturer and similarly most of their credit cycles also get a little prolonged from time-to-time and payments get stuck," he said.

However, according to him, Bharat Forge  is a different story. "The company went on to become a global player, did a lot of other different things and was not just a pure play ancillary as we can call and Exide in India etc. So auto ancillary as such are like but I am very selective in that as a broad brush I cannot say that auto ancillaries will do well," Dutt added.

14.02 | 0 komentar | Read More

Warburg Pincus to invest $200 mn in Kalyan Jewellers

The Indian jewellery manufacturer and retailer will use the capital for expansion purposes, said sources.

US private equity firm Warburg Pincus has agreed to buy a significant minority stake in Kalyan Jewellers for about USD 200 million, five sources with knowledge of the transaction told Reuters on Monday.

The Indian jewellery manufacturer and retailer will use the capital for expansion purposes, said the sources, who declined to be named as they were not authorised to speak to the media.

"The deal is almost done and we may probably announce it later the day," said one of the sources, who is directly involved in the stake sale.

Kalyan and Warburg Pincus did not have immediate comments when asked by Reuters.

Sources had told Reuters in March that multiple private equity funds were in separate talks with Kalyan to invest between USD 200 million and USD 250 million.

Private equity funds have invested USD 4.6 billion in India so far this year, compared with USD 3.1 billion in 2013, Thomson Reuters data showed. Consumer-related investments contributed to a fifth of the total private equity inflows so far this year. (1 US dollar = Rs 61.2800)

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Buy Kotak Bank, Arvind; sell GMR Infra fut: Manav Chopra

Manav Chopra of Nirmal Bang is of the view that one may sell GMR Infrastructure futures with a target of Rs 18 and advises buying Rural Electrification Corporation with a target of Rs 275.

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

One can buy Kotak Mahindra Bank . The stock has been an outperformer from banking space and has overall being in a very good uptrend forming a series of higher highs and lows. The stock, on Friday has found a strong reversal pattern on the intraday charts, which suggests that the prices would see a short-term rally in the near-term perspective. The overall momentum indicators are still in a strong buy mode and at the current levels, there is limited downside, which suggests that the stock should be bought at the current levels.

One can buy  Arvind . The stock recently has observed a very sharp decline from its recent highs and the prices have entered into the oversold zone. On the intraday charts, the prices are showing some sort of a divergence pattern, which hints for a near-term, short-term rise as the prices have also managed to close above short-term moving averages. At the current levels, the stock has strong support around the levels of Rs 270.

One can buy Rural Electrification Corporation  (REC). The prices on the weekly chart has given a bullish breakout as the prices have managed to sustain and close above the crucial levels of Rs 260 with volume confirmation and the candlestick patterns. We recommend a buy in the stock with a stoploss of Rs 252, for an upside target of Rs 275.

One can sell GMR Infrastructure futures . The stock has breached a falling trendline drawn from its recent highs which has confirmed a short-term trend reversal signal. The prices have also managed to close below its important moving averages. With a rise in volumes, we expect that the stock would face strong resistance around the levels of Rs 21.50 to Rs 21.80 on the upside. We recommend a sell with a stoploss of Rs 22 for a downside target of Rs 18.

14.02 | 0 komentar | Read More

It's time to wake APP and smell the coffee

You might have not realized but the lines have already blurred. As consumers, we have changed and beyond amends. We drink instant coffee, book tickets online, plan holidays on this thing called 'Cloud', connect with friends,and even make enemies, through the internet.

The precise speed at which the world out there is expanding its digital footprint,is mind-boggling. Big businesses are now growing bigger and wise consumers are getting wiser. And what is causing this major technological change is that tiny little app that rests on most device screens.

Gartner predicts that by 2015 most mobile apps will sync, collect and analyze deep data about users and their social graph and that by 2017; wearable devices will be driving 50% of total app interactions.

Many businesses fail to realize that data from mobile apps, whether deployed on the premises or in the cloud, is not currently managed as part of an organizations information infrastructure. In fact, data collected from mobile apps is often siloed. However, the fact remains that an enterprise must harness the power of mobile apps to stay competitive and relevant. 

Sample these:

-- Forrester hints that nearly 50% of Indian CMOs are in search of new suppliers with specialized technologies and processes to build new digital engagement systems such as mobile apps or social media applications.

-- Another recent scenario-check by Vanson Bourne tells how 60% of organizations either have an enterprise-wide mobility strategy or are planning to implement one in the next year. Also, most organizations are prioritizing mobile apps versus internal BYOD programs (63% vs. 37%). Yes, customer demand is fueling the growth in enterprise mobility, but over 75% have seen or expect to see significant benefit from their mobility initiatives.

-- A survey by market research firm IDC shows that businesses developing customer relationship management (CRM) apps for smart phones and tablets are on the right track and 31% of business respondents have in fact identified CRM as the most-wanted mobile app.

All above instances show that the world is moving to a new digital decade and cloud century. You would only be left behind if you do not catch up with your consumers and employees and arm them with the applications of 'this' world. Besides, the truth is that more and more of your workforce is already getting habituated to the app cloud. It only makes sense that you provide them with something more enterprise-appropriate.

Forrester's Frank Gillett has also noted, "Microsoft has already said that it plans to bring together the app-stores and developer tools for Windows and Windows Phone and is likely to go further and unify Windows across devices. It must show that it will be much easier to upgrade and update Windows, that the new OS will be easier to learn and use for traditional PC users than Windows 8, and that theyve preserved mobile capabilities." This means that big PC-era firms like Microsoft have already re-invented themselves to the new enterprise-app era.

You can always look for the so-called 'small-market' economy solutions, but why would you do that if companies like Microsoft can offer you scalable, affordable and flexible ones?

So, which are these enterprise apps that have the businesses excited? Collaboration and social networking ones (email, calendaring and messaging) come first. While there are plethora of social messaging apps of the likes of Facebook and Twitter on the consumer side, enterprises look for something safer and more importantly a place where the IP of the firm is not compromised by sharing. Little wonder, a private social network like Yammer is much more popular in the enterprise space as it allows collaboration with all the administrative controls. The likes of CRM or customer resource management that come in second, let you manage client interaction in a seamless and intelligent manner. Then there are apps for human capital management (HCM), sales force automation, asset management, ERP, supply chain management and so on.

While apps have no doubt changed the face of businesses, some challenges do remain. For instance, Gartner warns that security can be a major issue and that this is where current major application testing efforts should be applied. Also, the app space is rapidly evolving and hence requires a frequent update, unlike traditional applications, necessitating a sound and comprehensive strategy.

Nonetheless, the writing on the wall is clear for Indian enterprises: Get out and embrace this new world of mobile apps. They are not just what your employees and consumers want but also something that will help you extract better, smarter and faster work without burning a hole in your pocket. The road to the future leads to the clouds, with apps being the building blocks.

14.02 | 0 komentar | Read More

IFCI's Rs 2000 cr NCD issue to open on October 20

State-run IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

State-run NBFC IFCI has come out with its public issue of secured, redeemable, non-convertible debentures of face value of Rs 1000 each for an amount aggregating up to Rs 2000 crore.

The issue is going to open for subscription on October 20 which has scheduled to close on November 21, 2014.

Proceeds from the issue will be utilised towards lending minimum 75 percent of the amount raised and allotted in the issue; and for general corporate purpose: upto 25% of the amount raised and allotted in the issue.

Axis Trustee Services Limited is the book running lead manager and Karvy Computershare Private Limited is a registrar to the issue.

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Unichem Laboratories Q2 profit falls 38.4% to Rs 22.3 cr

Net sales grew by 3.3 percent to Rs 274.9 crore in the quarter ended September 2014 from Rs 266.2 crore in same quarter last year driven by exports.

Moneycontrol Bureau

Pharmaceutical firm Unichem Laboratories ' second quarter net profit plunged 38.4 percent to Rs 22.3 crore compared to Rs 36.2 crore in the year-ago period.

However, net sales grew by 3.3 percent to Rs 274.9 crore in the quarter ended September 2014 from Rs 266.2 crore in same quarter last year driven by exports.

Total income from its domestic operations declined 4.5 percent year-on-year to Rs 172.8 crore but exports jumped 18.9 percent to Rs 105.4 crore during the same period.

The healthcare company saw a foreign exchange gain of Rs 1.4 crore in second quarter of current financial year 2014-15 as against Rs 4.08 crore in corresponding quarter of last fiscal.

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Gas price fixed at $5.61/mmbtu, diesel cut by Rs 3.37/l

The government on Saturday has fixed new gas price at USD 5.61 per million british thermal unit (MMBTU), increased from USD 4.2 per mmbtu earlier, reports CNBC-TV18. However, it has reduced diesel price in Delhi by Rs 3.37 per litre following sharp fall in crude oil prices in international markets.

This new gas price hike will be effective from November 1, 2014 while the diesel price cut will be effective from today midnight.

Domestic gas pricing has approved by the Cabinet today, said Finance Minister Arun Jaitley (after a cabinet meeting), adding the new gas price hike will be effective prospectively and will be revised on a half-yearly basis.

The Cabinet modified the Rangarajan formula approved by previous UPA government to bring down the increase in rates from USD 8.4 to USD 5.61, Jaitley said.

He further said, henceforth, diesel price will be linked to the market. On the DBT, he said, the government will link direct benefit transfer with Jan-Dhan Yojana and has decided to relaunch DBT scheme.

"We have decided to reduce prices and in Delhi, prices are likely to go down by Rs 3.37 a litre from midnight tonight," said B Ashok, chairman of Indian Oil Corporation , the country's biggest fuel retailer.

Kirit Parikh, former Planning Commission member, said he is delighted with the government's decision to deregulate diesel. "This move is a step in the right direction. Deregulating diesel will have positive effect on fiscal situation," he added.

Lalit Kumar Gupta, managing director and chief executive officer of Essar Oil , too welcomed the government's decision to deregulate diesel.
 
"Deregulation will up competition & benefit end-consumer and for upstream companies, this leaves more money to invest in exploration and production, Gupta added.

Former Oil secretary SC Tripathi said deregulation should improve competition and bring more players into market.

"This is the proper moment to deregulate diesel and excluding Japanese price from the formula is the right move," he added.

According to him, if crude rises, subsidies must go to players on per litre basis.

Meanwhile, the natural gas prices have not been increased since past three years as the oil ministry faced stiff resistance from power and fertiliser ministry.

Energy expert Narendra Taneja said today's gas price hike will boost production without making power or fertiliser too expensive.

However, RS Sharma, the former ONGC CMD, said he is disappointed with new gas price as the quantum of hike is not enough.

According to him, imported gas costs around USD 13-14 per mmbtu, so USD 7 is a better price than USD 5.61 per mmbtu.

Natural gas distribution company  Indraprastha Gas is the first company that decided to hike CNG prices post gas price hike decision. It said CNG prices will be hiked by Rs 4.50 per unit and domestic gas prices will be up by Rs 2.66 per unit."

(With inputs from agencies)

14.02 | 0 komentar | Read More

MEC's Charles Courtier Stephen Li talk shop

MEC's Global CEO, Charles Courtier and APAC CEO, Stephen Li were in India recently. Pavni Mittal of Storyboard caught up with them to understand India's growing importance for business, increasing investments in talent and how co-creation of content by media agencies is changing the nature of their business.

MEC's Global CEO, Charles Courtier and APAC CEO, Stephen Li were in India recently. Pavni Mittal of Storyboard caught up with them to understand India's growing importance for business, increasing investments in talent and how co-creation of content by media agencies is changing the nature of their business. Listen in.

For more watch the accompanying videos.

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Storyboard: Journey of LK Saatchi Saatchi

It's been nearly 9 months since Publicis owned Saatchi & Saatchi acquired a majority stake in Law & Kenneth, rebranding the agency as L&K Saatchi & Saatchi. How has the journey been so far? Storyboard editor, Anant Rangaswami, caught up with Saatchi & Saatchi's Worldwide CEO, Kevin Roberts for answer.

It has been nearly nine months since Publicis owned Saatchi & Saatchi acquired a majority stake in Law & Kenneth, rebranding the agency as L&K Saatchi & Saatchi. So how has the journey been so far? How has becoming part of a holding company helped the Indian agency and how will it be integrated with Saatchi & Saatchi's international offices? Storyboard editor, Anant Rangaswami, caught up with Saatchi & Saatchi's Worldwide CEO, Kevin Roberts for those answers.

14.02 | 0 komentar | Read More

Watch: Exclusive preview of Mumbai Mirror's latest TVC

This week on Noticeboard, Storyboard is putting up the latest TVC from Mumbai Mirror. The ad retains the tag line I am Mumbai and even the spirit of it's last commercial which bagged a gold for Film Craft at the Cannes Lions 2 years ago. Here's an exclusive preview of that.

This week on Noticeboard, Storyboard is putting up the latest TVC from Mumbai Mirror. The ad retains the tag line I am Mumbai and even the spirit of it's last commercial which bagged a gold for Film Craft at the Cannes Lions 2 years ago. Here's an exclusive preview of that.

14.02 | 0 komentar | Read More

Here are Rishi Kohli's few trading ideas

Watch the interview of Rishi Kohli, ProAlpha Systematic Capital with Latha Venkatesh & Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on Futures and Options side of the market, specific stocks and sectors.

Watch the interview of Rishi Kohli, ProAlpha Systematic Capital with Latha Venkatesh & Ekta Batra on CNBC-TV18, in which he shared his readings and outlook on Futures and Options side of the market, specific stocks and sectors.

14.02 | 0 komentar | Read More

Buy Crompton Greaves; target of Rs 260: Sharekhan

Sharekhan is bullish on Crompton Greaves and has recommended buy rating on the stock with a target of Rs 260 in its October 16, 2014 research report.

Sharekhan`s research report on Crompton Greaves

"Crompton Greaves Ltd (CGL) reported a net profit growth of 19% YoY to Rs70 crore in Q2FY2015, in line with our estimate, which was supported by a decent revenue growth and hefty rise in other income. During this quarter, CGL exhibited an overall margin improvement YoY in all the three segments; notably PBIT margin in industrial systems expanded by 151BPS YoY to 9.2%. The board of directors of CGL approved a proposal to demerge its consumer products business into a separately listed entity (called Crompton Consumer Products Ltd [CCPL]). Under the demerger scheme, existing shareholders of CGL will get three shares of CCPL for every four shares of CGL; plus CGL will hold 25% stake in CCPL upon completion of demerger. Instead of issuing equal number of shares to existing shareholders of CGL the transfer of 25% stake of CCPL to CGL does not fully unlock the value for minority shareholders (it would be seen as a strategic stake and attract holding discount while valuing CGL). Also, it gives higher indirect stake to promoters in CCPL (42.67% direct stake and around 10% indirect holding through stake in CGL)."

"During post Q2 result conference call, the management sounded fairly positive on gradual recovery of its overseas operations and signs of improvement in order inflow. However, the unfavourable structure of demerger of consumer product business has disappointed investors since value unlocking benefit for the existing minority shareholders could not percolate fully. We see a 10-15% downside in the value un-locking exercise than initially estimated. Nevertheless, the stock has corrected by 8% today and any further correction should be capitalised as a buying opportunity, despite re-working post announcement of the demerger structure, there is a healthy potential upside to our revised down price target of Rs260. We retain Buy rating on the stock," 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

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Brent crude rallies above $86 but heads for 4th weekly loss

Oil got some respite on Friday from a four-month rout, with Brent climbing by almost a dollar to above USD 86 a barrel after positive US data buoyed global financial markets, although market analysts doubted the rally would take it much higher.

The global oil benchmark is still headed for its fourth weekly loss in a row, having hit a four-year low on Thursday as excess supply and weak demand from Europe to China pummelled prices.

Front-month Brent was up 75 cents a barrel at $86.57 at 0444 GMT. The November contract expired on Thursday, settling up 69 cents at $84.47 a barrel.

U.S. November crude, on track to post its third weekly decline, climbed 42 cents to $83.12 after settling 92 cents higher in the previous session.

"Most of the traders in the market are probably trading from the short side, so when we see a little bit of buying, we often think that we'll see a little bit of a short-covering rally," said Ben Le Brun, a market analyst at OptionsXpress.

"If that's the case, there might be some weakness still to play out."

Brent has lost more than 20 percent of its value since June and was dragged down earlier in the week by signals from key OPEC members suggesting the group was unlikely to intervene on prices.

Leading oil analysts across Wall Street have raced this month to slash their price forecasts by as much $12 a barrel as old assumptions about Saudi Arabia's readiness to defend a $100 crude are radically revised.

A downward revision in global oil demand for 2015 by the International Energy Agency further depressed the market.

"There's a glut of supply on the market at the moment. A lot of North American production coming up is not helping that side of the equation," Le Brun said.

"Outside of the U.S., there's not a lot of demand at the moment. Unfortunately, that's a story that could play out at least into early 2015, until we see some further central bank support," he said, referring to possible stimulus measures from the European Central Bank, Bank of Japan and People's Bank of China.

Technical analysts said U.S. oil prices may slump further if they fall below critical support at $80.

"In terms of magnitude we now see more upside risk to oil prices than downside risk, but we would not rule out another several weeks of price weakness, and a possible run at $75 a barrel WTI in the meanwhile," CIBC analyst Katherine Spector said in a note.

Crude inventories in the United States surged by nearly 9 million barrels last week as refineries cut output and imports inched up, data from the Energy Information Administration showed on Thursday.

Gasoline inventories fell 4 million barrels to their lowest level since November 2012, compared with analyst expectations in a Reuters poll of a drop of 1.2 million barrels.

14.02 | 0 komentar | Read More

Accumulate Cairn India on every correction: Mayuresh Joshi

Mayuresh Joshi, Vice President - Institution at Angel Broking recommends accumulating Cairn India on every correction.

Mayuresh Joshi, Vice President - Institution at Angel Broking told CNBC-TV18, "Clearly, with the fall in brent prices, the reaction on Cairn India  has been very obvious but with the increase in expectations from the Barmer Fields and the kind of production estimates that will go through in the next two years -- our take is that the numbers will reflect far better."

"We still maintain an accumulate rating on the stock. Cairn India might probably correct, so every correction probably gives an ideal chance for long-term investors to start chipping into the stock," he added.

14.02 | 0 komentar | Read More

Poona Dal appoints Rakesh Singh as additional director

Poona Dal & Oil Industries Ltd has appointed Mr. Rakesh Singh as Additional Director (Executive Category).

Poona Dal & Oil Industries Ltd has informed BSE that the following changes have taken place in the composition of the Board of Directors of the Company:- Appointment of Mr. Rakesh Singh as Additional Director (Executive Category).Source : BSE

Read all announcements in Suryaoday Agro

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Sensex, Nifty rangebound; banks FMCG gain, metals slip

12:27

Moneycontrol Bureau Equity benchmarks were not showing any sign of major move on either side. The Sensex fell 9.80 points to 26339.53 and the Nifty declined 9.05 points to 7854.95. Banking and financials, and FMCG stocks saw buying interest while metals, capital goods and power stocks were under pressure.

The market breadth was negative. About 1053 shares have advanced while 1417 shares declined on the Bombay Stock Exchange.

Shane Lee, Director, Economist & Strategist - Equity Research, CIMB is neutral on India. However, he adds that the Indian market has held up rather well. But he is waiting to see how things play out.

Shares of Hindustan Unilever, Gail, ITC, Tata Motors, Axis Bank, BPCL and NMDC climbed 1-4 percent whereas Hindalco Industries, Sesa Sterlite, Mahindra and Mahindra, Tata Power, Reliance Industries, UltraTech Cement and Cairn India slipped 1-4 percent.

In key earnings today, second quarter is expected to be a strong for TCS and Hero Motocorp. Dollar revenue of TCS may see a 7.3 percent sequential growth to USD 3,965 million with marginal improvement in margins while Hero may report a 43 percent growth in profit Y-o-Y.

In the midcap space, Cyient, Tilak Finance, Emami, DB Corp and Religare Enterprises gained 4-7 percent while Strides Arcolab, GSFC, Amtek Auto, Den Networks and Persistent Systems lost 5-16 percent.

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Coalscam: Court directs CBI to further probe the matter

A special court today ordered further investigation in a coal blocks allocation scam case, involving Vikash Metals and Power Ltd and its officials, in which the CBI had filed a closure report.

The court also directed the CBI to file a further progress report of the probe and fixed the case for November 10.

"Vide separate order the matter has been referred to CBI for further investigation under the provisions of the CrPC. Copy of the order passed be sent to Director, CBI and to all the DIGs, CBI who are supervising the investigation of all coal blocks allocation cases.

"Put up for submission of progress report on further investigation on November 10," Special CBI Judge Bharat Parashar said.

The court also told investigating officer (IO) Rajbir Singh that the further report should be thorough and the agency should also give proper reasons in support of the conclusion drawn in the report.

"I hope you will now probe on the line of the court's earlier order and if you differ in your conclusion, then give detailed reasons for it," the judge said.

During the last hearing on September 30, the court had pulled up the CBI officers for the way they handled the probe in a coal blocks allocation scam case, saying the agency's officers "lacked basic skills of investigation".

It had ordered its Director Ranjit Sinha and all concerned DIGs to personally look into the matter failing which they would be held "responsible".

The court had also observed that the agency officers were withholding documents from it for the reasons best known to them and even the statement of witnesses, recorded during the probe into the case, was not placed before it.

Also read:  PMO seeks schedule for developing coal washeries

The judge had also said that CBI officers were not following the basics of the CrPC and even their crime manual during investigation of the case.

Even after repeated directions by the court, the CBI officers were not paying any heed to it, the judge had said.

In September 2012, the CBI had registered an FIR against Vikash Metals and Power and its officials, accusing them of making false claims related to land allocation to get undue advantage in the coal block allocation.

The FIR was registered against Vikash Metals and Power, its directors, including Vimal Patni, Vikash Patni and Anand Patni, and Anand Mallick who was the authorised signatory for the company.

They were booked for the alleged offences under sections 120 B (criminal conspiracy) and 420 (cheating) of the IPC.

CBI had earlier said that Vikash Metals and Power wrongly claimed that it had been allocated 300 acres of land in Begusarai in Bihar by the Bihar Area Development Authority.

The agency had found that the land was de-allocated and directors of the company failed to inform the screening committee members about it, it had said.

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If a tea-seller can head a country, I too can be CM: Uddhav

Describing the BJP as "power-hungry", Thackeray accused the party of having harboured intentions to divide the state.

Pitching himself for the top post in Maharashtra, Shiv Sena chief Uddhav Thackeray said if a tea seller can rise to be the country's Prime Minister, he too can become the state Chief Minister.

"It is true that the Thackerays have never fought elections. But we have never backed out from responsibilities. If a common man like (Narendra) Modi, who started off as a chai wala (tea seller) goes on to become the PM, I can become the CM as well," Thackeray said in an interview to his party mouthpiece Saamana.

 Criticising the BJP, Thackeray said Central ministers who have been campaigning for the party now, will forget Maharashtra post elections.

"A contingent of Central ministers have been brought in to campaign for the party for the (Maharashtra) elections. But they will not come back post elections. It is only the Sena that will stay here and continue to work for the people and people do realise this," he said.

Describing the BJP as "power-hungry", Thackeray accused the party of having harboured intentions to divide the state.  
   
"The BJP broke its alliance with us as they were hungry for power. They wanted to rule the state like they are ruling the country, after getting a majority in Lok Sabha elections. They thought they can divide Maharashtra if they are in power with a majority here. But the Sena will never let that happen," Thackeray said.

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Assembly polls: 25% turnout in first four hours in Haryana

Over 25 percent of the 1.63 crore eligible voters had exercised their franchise in Haryana till 11 AM today as polling was on at a brisk pace in the multi-cornered contest.

Two persons were injured in firing during a clash between two groups in Sirsa, police said, adding they were investigating the incident.

Amid tight security, polling commenced in all the 90 assembly seats at 7 AM and would continue till 6 PM to decide the fate of 1,351 candidates. Counting of votes will take place on October 19.

Election officials said that the polling was slow during the first two hours, but gradually picked up pace and over 25 percent had cast their vote by 11 AM. Barring glitches in EVM machines at a couple of places in the State, the polling was going on smoothly.

However, BJP candidate from Narnaund assembly segment Abhimanyu alleged that attempts to capture booth were made in Baas village in the constituency at the behest of rival INLD, which vehemently denied the charge.

Abhimanyu told reporters in Narnaund that wires of web-casting camera were cut in Booth No 140 and attempt was made to capture booth by the 'goondas'. This is hyper sensitive booth, he said, "but the police administration is sitting like a mute spectator".

Also read:  Assembly polls: What India Inc expects from new state govts

A spokesman of the INLD said that Abhimanyu was levelling false allegations "out of sheer frustration sensing his imminent defeat". Two persons were injured in a firing incident in
Haryana's Sirsa district.

According to Sirsa SP Mitesh Jain, the incident occurred in Modia Khera village. Asked if it is poll related clash, Jain said, "we are making investigations".

Former Haryana Minister Gopal Kanda, is contesting from Sirsa. He now heads the Haryana Lokhit Party.

Polling was going on at a brisk pace at places including Ambala, Bhiwani, Fatehabad, Hisar and Yamunanagar while it was comparatively slow at places like Rewari, election officials said.

Over 1.63 crore voters including over 87 lakh women are eligible to cast their vote in the polls with top guns including the kin of the three famous 'Lals' (Bansi Lal, Bhajan Lal and Devi Lal) battling it out in the state.

The highest number of 116 women contestants is in fray this time.

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Here are South India's real estate hotspots

The commercial office leasing trends in Bangalore clearly reflect that the city is topping all others in terms of space and job creation. IT, ITeS and retail are driving employment creation in the city.

Juggy Marwaha
JLL India
 
Until only recently, the South Indian real estate market was known as highly price sensitive, with buyers primarily focused on the affordability quotient. Developers had to adopt a strategy to entice potential end-users and investors by offering their products in the right price band. However, with more and more foreign companies establishing their back offices in prime locations of South Indian cities and offering power jobs to the local populations, the South Indian economy has witnessed rapid growth over the last few years. This has visibly reflected on their real estate markets, as well.
 
Of late, the most important South Indian real estate markets - Bangalore, Chennai, Hyderabad and Kochi, have been faring very well. This dynamic was evident even when the nation was going through a phase of low sentiments. While the burgeoning IT sector in these cities is the main reason behind the real estate boom in these cities, some of them also have a rapidly strengthening industrial base which is further augmenting real estate demand.
 
Bangalore
 
The commercial office leasing trends in Bangalore clearly reflect that the city is topping all others in terms of space and job creation. IT, ITeS and retail are driving employment creation in the city. Bangalore is expanding in all directions, and with most phases of the Metro on track in terms of deployment, Bangalore has emerged as one of the best investment destinations for affordable, affordable luxury and luxury segment housing.
 
North Bangalore has seen residential prices doubling in the last 4-6 years, and many other pockets have witnessed good appreciation as well. Brigade Gateway, one of the best integrated townships in Bangalore featuring the World Trade Centre, a mall and a 5 Star hotel, was launched at a price of Rs.5,000/sq. ft. about 4-5 years back and is now transacting at above Rs. 10,000/ sq.ft.
 
There are numerous such examples wherein reputed developers and landmark developments have been instrumental in prices doubling and going even higher in the last 4-6 years. The finest developments in Whitefield by Sobha, Brigade, Prestige, Total Environment and Chaitanaya have practically doubled in terms of capital values in the last 5 years.
 
Chennai
 
Residential property prices in Chennai have escalated the fastest among the cities in India, witnessing an appreciation of almost three times of what they were in 2007. However, Chennai still faces supply constraints in its prime locations in terms of new and organised development.
 
Traditionally, buyers in Chennai were hesitant to move to the suburbs, as the options available in the key pockets were highly priced. Very similar to the cities like South Mumbai, Delhi and Kolkata, buyers in Chennai are very particular about address and pin code value. As the city is in expansion mode with the rapid development in Chennai's social and physical infrastructure, the suburbs and extended suburbs such as Velacherry, Peringudi and OMR belt are witnessing an upsurge in its property prices with corresponding demand.
 
Areas like Ayanavaram, Virugambakkam, Nungambakkam and Ashok Nagar have recorded the maximum appreciation. With limited supply and few organized developers in Annanagar and Kilpauk, end-users and investors are finding prices attractive in these neighbouring areas. With noted developers such as Chaitanaya, Vijayshanti and Arihant-Unitech active in these areas, there is a steady increase in demand.
 
The Central business district of Chennai, Nungambakkam, has managed to maintain the highest appreciation values with only few organized developers active in the area. However, with the Metro rail route passing through Ashok Nagar and with host of reputed and local developers' active along the belt, a considerable amount of demand has shifted to this micro-market.
 
This is because of the presence of large commercial and entertainment-shopping establishments such as Phoenix and Forum and the availability of adequate social and physical infrastructure such as quality educational institutions and hospitals have proven beneficial in garnering demand from end-users and investors.
 
The three key growth drivers of IT / ITES, automobile manufacturing and education sector are instrumental in driving the job creation in Chennai. The price appreciation in specific pockets forecasts to be extremely good over the next 12-18 months. Some of the projects which are garnering attention from end-users and investors are Falling Waters in Peringudi, Oceanique on ECR Road, Embassy Residency and Pristine Acres in OMR.
 
Hyderabad  
 
Taking in consideration the current prevailing prices, developers have very little room for profit. Properties here are value buys in all respects, and one cannot go wrong with buying into quality projects at the current price levels with an investment horizon of 3-5 year. The Telangana agitation was the primary reason for the stagnation of prices in Hyderabad.
 
While Hyderabad's average prices may reflect stagnation, there are multiple exemptions to this rule. A few such instances are Jayabheri's Orange County, which has seen 33% absolute appreciation within a horizon span of 3-4 years and Jayabheri's Silicon County, which has almost doubled in the last four years. Aparna's Sarovar Grande has seen about 43% absolute appreciations in the last 12-15 months.
 
Good projects by reputed developers have shown very robust capital appreciation in the city. Though Bangalore and Chennai has clocked better appreciation values, Hyderabad by no means has lacked appreciation growth - it has merely been selective.
 
The socio-political and economic scenario is now far more favourable for the real estate sector. Hyderabad's real estate market is likely to grow at a relatively faster pace to give renewed competition to cities like Bangalore, Chennai and Kochi. In the mid-to-long term, investor confidence in Hyderabad real estate will emerge in force once more. Companies like Facebook, Google and Apple have long-standing plans to expand their bases in Hyderabad - a factor which will work in favour of faster appreciation.
 
One of the hottest emerging locations is Vijaywada, where land prices have increased by almost 300% because of speculation. This renders Vijaywada unviable for residential projects over the short term, but a price correction from the speculative levels in anticipated over the next one-and-a-half years. After that, many more corporates will move into Vijaywada, thereby boosting residential demand as well.
 
Kochi
 
Kochi is an emerging metropolis where modern urban lifestyles are merging with the city's traditional framework. During its initial realty boom, Kochi grew exponentially, with more people migrating to the city and consuming even the outlying catchments of Kakkanad, Palarivattom, Vytilla, Edappally and Kadavanthra.
 
Development of IT/ITES projects such as the Kochi Smart City and initiatives to channelize traffic and improve connectivity - such as the Mobility Hub at Vytilla - have fuelled the current real estate boom, with more and more developers cashing in.
 
The days when builders in Kochi focused only on affluent buyers are over. The Kochi residential real estate market is now replete with affordable housing projects, which account for about 60% of the total housing development in the city. The soaring land prices have made it difficult to own or build independent houses, which were once the most popular configuration in Kochi. There is an increased demand from the emerging mid-income segment that wants homes packed with amenities at affordable prices.
 
The demand for budget housing is so strong that supply has penetrated even the poshest areas. The prime localities that offer luxury multi-storey apartments, such as Marine Drive, are seeing the arrival of affordable and mid-income housing projects in the vicinity to the more expensive waterfront apartments and villas.
 
While the global recession in 2009-'10 impacted all markets across the country, there was no decrease in Kochi residential real estate between 2012-13. Kochi is an investor market with many investments coming in from the Gulf via NRIs. In most cases, flats in new projects are sold out to the tune of 80% very quickly, but less than 20% would be actually occupied.
 
Luxury apartments on Marine Drive were quoted at Rs. 3800-4000/sq.ft in 2008-'09. Now, the rates for premium apartments in this area have almost doubled. Mid-range apartments by local developers are usually sold out by upto 90% of the inventory over a period of 1.5-2 years. The apartments in non-prime areas need to sell at price tags of upto Rs. 70 lakh.

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Sensex, Nifty recover post WPI inflation; SBI, Axis gain 2%

Wholesale Price Index (WPI) inflation in September eased to 2.38 percent from 3.74 percent in August led by fall in fuel, food and manufactured products prices. The WPI was expected to come in at 3.1 percent.

12:27

Moneycontrol Bureau The market recouped its morning losses after WPI inflation in September dropped to five-year low. The Sensex declined 27.63 points to 26356.44 and the Nifty fell 15.45 points to 7868.80.

Wholesale Price Index (WPI) inflation in September eased to 2.38 percent from 3.74 percent in August led by fall in fuel, food and manufactured products prices. The WPI was expected to come in at 3.1 percent.

The consumer price inflation data for the month of September, which was released yesterday, cooled off to its all-time low of 6.46 percent, the lowest since India started computing consumer price index (CPI) in January 2012, led by lower food prices and fuel costs.

Top lender State Bank of India and its rival Axis Bank gained 2 percent each. State-run power equipment maker BHEL topped the buying list, up 4 percent.

Shares of Reliance Industries, Sun Pharma, Bajaj Auto, Bharti Airtel, Cipla and Tata Power gained 1-1.9 percent. However, DLF fell 26 percent followed by Sesa Sterlite, ITC, TCS, HDFC and Tata Motors with 1-4 percent loss.

11:00

Shares of ITC, HDFC, ICICI Bank, Tata Motors, TCS, HDFC Bank, ONGC, Tata Steel and Hindalco Industries declined 1-2 percent.

Read More »

10:00

BHEL, Bajaj Auto, SBI, Bharti Airtel, Cipla, Reliance Industries, Axis Bank and IndusInd Bank gained 1-3 percent.

Read More »

09:23

DLF tanked 19 percent after market regulator SEBI barred company and its six executives from accessing capital markets for 3 years. Hero Motocorp, Cipla, ITC, Dr Reddy's Labs, BPCL and HCL Technologies were under pressure.

Read More »

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Here's Indiaproperty's report on Banashankari

Surrounded by Rajarajeshwari Nagar and Giri Nagar in the west, JP Nagar and Jayanagar in the east,Basavangudi in the north and Uttarahalli in the south, Banashankari is fast developing into a residential hub.

Cited to be Bangalore's largest vicinity, Banashankari or BSK as its better known is one of the most sought after vicinities in South Bangalore. Branching out from Kanakapura Road in the east, BSK extends up to Mysore Road in the west. BSK is divided under all the possible categories like stages, blocks and phases. The neighbourhood has 6 stages with the last stage being the biggest.

Surrounded by Rajarajeshwari Nagar and Giri Nagar in the west, JP Nagar and Jayanagar in the east,Basavangudi in the north and Uttarahalli in the south, Banashankari is fast developing into a residential hub. Connectivity is another factor that is driving the areas realty demand. BSK's close proximity to the ORR (Outer Ring Road) is attracting many home buyers. The locality gets its name from one of the oldest temples in Bangalore- the BanashankariAmma Temple on Kanakapura Road

>> Apart from being the city's largest locality, BSK is the only vicinity to have all the major classification of blocks, stages and phases.

>> The 1st stage of the locality is citied to be one of the city's oldest neighborhoods. This stage has sub-localities like Kalidasa Layout, Hanumanthanagar, Srinagar, Avalahalli, Brindavan Nagar and Ashok Nagar.

>> Surrounded by two small hillocks- Banagiri and Devagirir, the stage 2 of BSK is a commercial hub.

>> Divided into 9 blocks and 3 phases, the 3rd stage of Banashankari is an educational hub. Many renowned institutions have their base here. The major sub-localities of this stage are Mysore Bank colony, Srividya Nagar, Hosakerehalli and Ittamadu.

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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Festive season has been relatively positive: Whirlpool

Shantanu Dasgupta, vice president-corporate affairs and strategy-Asia South, Whirlpool, says the demand hasn't been as good as the kind seen in 2010, but in comparison to 2012 levels, there has been a slight pickup.

Shantanu Dasgupta, vice president-corporate affairs and strategy-Asia South,  Whirlpool says despite the period of contraction seen in demand over the past few months, the festive demand has been relatively positive.

In an interview to CNBC-TV18, Dasgupta says the demand hasn't been as good as the kind seen in 2010, but in comparison to 2012 levels, there has been a slight pickup.

Also read: Flipkart probe scare may not deter online Diwali sale fests

Furthermore, Dasgupta adds that ecommerce websites should only be treated like yet another channel to drive sales and discounts offered by it should be transparent.

"There's a lot for the consumers to benefit from these online sales. No one is adversely affected by it. There should be transparency and a choice given to companies whether they want to participate in it or not," he explains.

Transcript to follow soon.

Whirlpool stock price

On October 13, 2014, at 12:25 hrs Whirlpool of India. was quoting at Rs 431.25, down Rs 0.15, or 0.03 percent. The 52-week high of the share was Rs 504.80 and the 52-week low was Rs 153.55.

The company's trailing 12-month (TTM) EPS was at Rs 12.32 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 35. The latest book value of the company is Rs 58.33 per share. At current value, the price-to-book value of the company is 7.39.

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Motherson Sumi Systems' Q2 results on November 10, 2014

Motherson Sumi Systems Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 10, 2014, inter alia, to consider the Unaudited Financial Results for the quarter ended September 30, 2014 (Q2).

Motherson Sumi Systems Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on November 10, 2014, inter alia, to consider the Unaudited Financial Results for the quarter ended September 30, 2014 (Q2).Source : BSE

Read all announcements in Motherson Sumi

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Expect Reliance to report flattish Q-o-Q growth: Religare

Nitin Tiwari, VP- Institutional Research, Religare Capital Markets expects Reliance petrochemical margins to be better on a sequential basis. However, RIL may post weak earnings on the back of frail US refining margins, he adds.

Oil and gas major Reliance Industries  will report its earnings for July-September quarter later today. Nitin Tiwari, VP- Institutional Research, Religare Capital Markets anticipates the company to announce flattish quarter-on-quarter growth.

He expects Reliance petrochemical margins to be better on a sequential basis. However, RIL may post weak earnings on the back of frail US refining margins, he says in an interview with CNBC-TV18's Anuj Singhal.

According to CNBC-TV18 poll estimates , analysts expect the company to report standalone net profit at Rs 5,600 crore as against Rs 5,649 crore in previous quarter.

Meanwhile, key factors to watch out in its result today are updates on polyester/intermediaries capacities commissioning, status on petcoke gasification and refinery off-gas cracker (ROGC) projects, outlook on E&P business capex and KG-D6 production.

While the stock has underperformed the market recently, it may witness headwinds hereon, Tiwari says adding that the brokerage house is comfortable with company's valuations and thus has a hold rating on the stock with a target price at Rs 950 a share.

Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.

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'Low intl prices have slowed down e-auction of ore in Goa'

The process of e-auctioning of iron ore lying at jetties, MPT and mines in Goa is not picking up
pace due to the low prices in international market, a senior member of the Supreme Court-appointed monitoring committee said today.

The state government has e-auctioned only 4 million tonne of the total 15 MT ore lying at jetties, mining leases and the Mormugao Port Trust. The monitoring committee has, however, expressed satisfaction over the e-auctioning process.

"There are several factors that are responsible for the e-auctioning being done at slow pace. The state had rainy season since April till now. Also the prices of ore in the international market are low," UV Singh, member of the committee, said here. "We are quite satisfied with the process adopted by Goa government to e-auction the ore," said Singh, who would be submitting the committee's report to the apex court by October 21.

Slowdown in the Chinese economy is affecting ore exports, he said. Iron ore from Goa is largely exported to China.

The existing China market had been monopolised by ore producers from Brazil and Australia, he added. Very little of the ore produced in Goa is consumed in the country, so the exports are crucial, he said.

"I know that there is only one buyer in Karnataka that takes the ore (in Goa), but for that too, there are constraints of transporting. So the buyer is purchasing the ore from Karnataka itself," Singh said. The state, being the owner of the ore, had to get the best prices, he added.

It was up to the state government to decide the timeframe for exporting the entire 15 MT of ore, he said, adding that the committee would not set any deadline. "The state government is wise enough to take action," he said.

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