HDFC makes MTM gains
Quite unexpectedlly when all banks and corporates are making Mark to market losses on derivatives, HDFC has announced that it made a profit of Rs 293.56 crores as MTM gains on its portfolio.HDFC has an exposure of around Rs 2,600 crore ($650 million) to cross-currency swaps and another Rs 13,000 crore to interest rate swaps. It made an MTM gain on this portfolio. In addition, it has a forex loan exposure of around $1 billion, where there are separate MTM gains that have not been booked.
This news could act as a very positive one for HDFC and we can expect some good action in the stock tomorrow.
RCOM and TATA to pay Rs 700 crore to BSNL : SC
Just as RCOM posted better than expected profit which would have had a positive impact on the stock price of the company there is some negative news in the offing.
The Supreme Court has held Tata Teleservices 'Walky' and Reliance Communication's (formerly Infocom) 'Unlimited Cordless' as limited mobile phones, hence they are liable to pay Access Deficit Charge (ADC) to BSNL for interconnection.
A bench headed by Justice H S Kapadia, while dismissing Tata Teleservices and Reliance Communication's petitions, has upheld telecom tribunal Telecom Dispute Settlement and Appellate Tribunal's (TDSAT) order of September 2005 that held these services are not fixed lines telephones, but limited mobile.
With this order RCOM is liable to pay over rs 400 crores and tata teleservices nearly Rs 300 crores.
However, RCOM later came out with a clarification that this would have no impact on the company as necessary provisions in this regard have already been made in the company books in the previous financial years.
I in my personal view feel that some impact would be felt as practically it would mean a reduction of cash for the company to the extent of Rs 400 crores and obviously could mean lower interest incomes or if the cash has already been used then greater interest outgo's.
Wednesday, April 30, 2008
Tuesday, April 29, 2008
Top news for today
Home loans may become chepear for some catagories
The fact that RBI hiked the CRR by 25 basic point is well known but there were also some silver linings in the policy. One was that RBI has reduced the risk weight -the amount of capital set aside for a loan--on home loans above Rs 20 lakh and upto Rs 30 lakhs to 50 per cent from 100 per cent earlier. This move now gives headroom to the banks to pass on the benifit to the comsumers. The move is likely to benifit the upper middle class consumers. Some bankers are expecting this to have an effect of 50 basis points on the interest rate.
RBI leaves repo rates unchanged
This was the worst fear the market had for today but surprisingly Mr Reddy did not hike the repo rate. This could be because the banks are already having surplus funds and wont need to borrow much from RBI. So leaving them unchanged he sent a feeling of relief in the market and the market rallied on the news closing by over 350 points.
Controlling inflation
The govt may be taking all possible measures to control inflation and the latest measures taken by reducing customs duty on raw materials and imposing export duty on finished goods for the steel sector is just one such move,however the industry heads have a different view. They feel that steps should be taken to increase supply by adding more capacities rather than imposing curbs to control inflation.
The fact that RBI hiked the CRR by 25 basic point is well known but there were also some silver linings in the policy. One was that RBI has reduced the risk weight -the amount of capital set aside for a loan--on home loans above Rs 20 lakh and upto Rs 30 lakhs to 50 per cent from 100 per cent earlier. This move now gives headroom to the banks to pass on the benifit to the comsumers. The move is likely to benifit the upper middle class consumers. Some bankers are expecting this to have an effect of 50 basis points on the interest rate.
RBI leaves repo rates unchanged
This was the worst fear the market had for today but surprisingly Mr Reddy did not hike the repo rate. This could be because the banks are already having surplus funds and wont need to borrow much from RBI. So leaving them unchanged he sent a feeling of relief in the market and the market rallied on the news closing by over 350 points.
Controlling inflation
The govt may be taking all possible measures to control inflation and the latest measures taken by reducing customs duty on raw materials and imposing export duty on finished goods for the steel sector is just one such move,however the industry heads have a different view. They feel that steps should be taken to increase supply by adding more capacities rather than imposing curbs to control inflation.
Sunday, April 27, 2008
A look at India Glycols
I am trying to put up a review of this company which seems to me as having a great potential for medium term investment. India glycols is engaged in the manufacture of Glycols, ethooxilates, PEG's, peformance chemicals, Glycol ether and acetates, guar gum and potable alcohol.
Interestingly this is the only company in the world to use renewable agro route using molases to manufacture Ethylene Oxide and mono ethylene glycol.
Mono ethylene glycol is a keyingredient to make any kind of polyster (fibre, yarn, film, chips etc), and its price moves with that of crude oil. So, high oil prices is a boon for the company as it pushes the price of MEG. The company benefits from the molasses route as its cost of production is significantly lower than other producers who make it from crude. The MEG capacity has also been expanded in recent past. The prices of MEG have been on a rise and have risen from $880 in march 07 to around $1200 now. This is likely to boost margins significantly for the company.
To improve raw material security the company has commissioned a facility to produce molases directly from sugar juice thus reducing its dependence on sugar factories. The manucturing facility are located at Kashipur, uttranchal which is the key hub of sugar industry.
The company has a wide marketing network covering asia, europe america, australia and south africa.
The stock of this company is held by many mutual funds including DSP ML micro cap fund, DSP ML tax saver fund, HDFC capital builder fund and Sundram leadership fund.
During the last financial the company posted a net profit of Rs410 million on an equity base of 278 million. The company has posted a total profit of 1513 million during the nine months period of april to dec 07. This results in to a EPS of Rs 54 for this period.
This makes this company an excellent investment opportunity.
Interestingly this is the only company in the world to use renewable agro route using molases to manufacture Ethylene Oxide and mono ethylene glycol.
Mono ethylene glycol is a keyingredient to make any kind of polyster (fibre, yarn, film, chips etc), and its price moves with that of crude oil. So, high oil prices is a boon for the company as it pushes the price of MEG. The company benefits from the molasses route as its cost of production is significantly lower than other producers who make it from crude. The MEG capacity has also been expanded in recent past. The prices of MEG have been on a rise and have risen from $880 in march 07 to around $1200 now. This is likely to boost margins significantly for the company.
To improve raw material security the company has commissioned a facility to produce molases directly from sugar juice thus reducing its dependence on sugar factories. The manucturing facility are located at Kashipur, uttranchal which is the key hub of sugar industry.
The company has a wide marketing network covering asia, europe america, australia and south africa.
The stock of this company is held by many mutual funds including DSP ML micro cap fund, DSP ML tax saver fund, HDFC capital builder fund and Sundram leadership fund.
During the last financial the company posted a net profit of Rs410 million on an equity base of 278 million. The company has posted a total profit of 1513 million during the nine months period of april to dec 07. This results in to a EPS of Rs 54 for this period.
This makes this company an excellent investment opportunity.
Saturday, April 26, 2008
Top News
Sesa goa to consider stock split and bonus issue.
Sesa Goa Ltd has informed BSE that the Board of Directors of the Company, at their Meeting to be held on April 28, 2008, will also to consider the following:
1. Sub-division (split) of the Equity Shares of the Company.
2. Issue of Bonus Equity shares
The news itself is likely to see big fireworks on monday the 28th as this is going to increase trader interest tremendously in this stock. There are no circuit limits to the stock price movement as it is traded in forward market.During the last financial year the company had reserves of Rs 16850 million on an equity base of 393 million which gives an impression that the company would be giving a bonus of 1:1
Sesa Goa Ltd has informed BSE that the Board of Directors of the Company, at their Meeting to be held on April 28, 2008, will also to consider the following:
1. Sub-division (split) of the Equity Shares of the Company.
2. Issue of Bonus Equity shares
The news itself is likely to see big fireworks on monday the 28th as this is going to increase trader interest tremendously in this stock. There are no circuit limits to the stock price movement as it is traded in forward market.During the last financial year the company had reserves of Rs 16850 million on an equity base of 393 million which gives an impression that the company would be giving a bonus of 1:1
Friday, April 25, 2008
Top news
SRF board approves buy back
SRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2008, inter alia, have approved:
1. Buy-back through open market route (stock exchange route).
2. Buy-back at a price not exceeding Rs 160/- per equity share.
3. Buy-back offer shall remain open upto April 24, 2009 or such earlier date as may be determined by the Board at any time even if the maximum limit of Buy-back of shares has not been reached, by giving an appropriate notice for such earlier date, if any, whichever is earlier.
4. The proposed Buy-back could absorb a maximum of Rs 70.00 crores which is less than 10% of the paid up capital and free reserves of the Company.
The actual number of shares bought back would depend upon the average price paid for the shares bought back and the actual amount deployed in the Buy-back, subject to the limit specified in point No. 4 above.
Pyramid Saimira opens food court
Pyramid Saimira Theatre Ltd has informed BSE that Pyramid Saimira Group inaugurated its food court at TDI Mall, Rajouri Garden, New Delhi, on April 25, 2008. This is the group's second food court in North India, after Faridabad. The food court was inaugurated by Shri. Ramesh Lamba, MLA, Rajouri Garden, New Delhi, in the presence of Mr. Saminathan, Group Chairman, Pyramid Saimira Group and Mr. N Narayanan, Director, Pyramid Saimira Group.
Speaking at the launch of the food court, Mr. P S Saminathan, Group Chairman, Pyramid Saimira Group, said, "Pyramid Saimira focuses on 360 degrees entertainment, which includes food & beverages. We are evolving into a full scale food chain and our food offering also will focus on 360 degrees expansion from canteens in screens, food courts in theatrical locations, high street restaurants, institutional catering etc.
As a practice, we scale up in an aggressive manner and in just three months of start, we are inaugurating our second food court in the North India. We will be investing close to Rs 100 crore In the F&B division, over the next year and we expect that this will contribute close to 25% of our top-line. We will be scaling up operations extensively in the NCR, and Delhi is a pivotal market for us.
With increase in disposable income of consumers, rapid urbanization, and increasing popularity of convenience foods, food and beverage sector is expected to grow at an incredible pace and Pyramid Saimira will capitalize on this boom.
"Commenting on Pyramid Saimira Group's strategy, Mr. N Narayanan, Director, said "We are the only organised food court operator, who is not sub-contracting the food with various vendors, but has developed various genres of food offering and has organically owned about so von distinctive brands, each catering to a specific cuisine.
"Commenting on the exclusivity of the Pyramid Saimira food court, Mr. Alok Kumar, Vice - President, Food & Beverage, Pyramid Saimira Group, said, "Our paramount focus at Pyramid Saimira food court will be food safety, hygiene and consistent quality. All our employees are undergoing pre employment, as well as periodical medical examinations, as per international food handling guidelines Pyramid Saimira food court will offer its customers, high quality and safe food, without compromising on taste.
"Pyramid Saimira is creating a niche for itself in the F&B segment with 2 food courts in operation with the following brands - Apple Tree, Red Curry, Shivalay, augrita, Tahal, Beverage & More and the latest being Brahmin's Kitchen, an initiative to bring traditional Brahmin food in the modern format. Another segment of F&B, under the brand name, Cineteria is operating at 106 theatres, across South India.
Reliance power fixes date for bonus
Reliance Power Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from June 03, 2008 to June 05, 2008 for the purpose of Issue and allotment of Bonus shares
Court orders benifits for essar oil
Essar Oil Ltd has informed BSE that on April 24, 2008 the Company has received a judgment passed by a Division Bench of the Hon’ble High Court of Gujarat at Ahmedabad, restoring eligibility of the Company to avail Sales Tax / Value Added Tax deferment benefits to the extent of 125% of eligible capital investment in the Company’s Refinery Project at Vadinar, District Jamnagar, under the New Capital Incentive Policy — Capital Investment Incentive to Premier / Prestigious Unit, Scheme 1995-2000.
The High Court has directed the Government of Gujarat to grant the above benefits and issue Final Eligibility Certificate within one month subject to certain concessions from the Company
Gokul Refoils and solvents IPO to hit market on may 8
Gokul Refoils and Solvent plans to enter the capital market on May 8 with its initial public offering of 71,58,392 equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process.
The company has fixed a price band of Rs 175-Rs 195 per share. The issue will close on May 13. The issue comprises a reservation of upto 75,000 equity shares for employees and a net issue to the public of 70,83,392 equity shares. The issue will constitute 27.14 per cent of the fully diluted post issue paid-up capital of the company. Qualified institutional buyers shall be allocated 50 per cent of the issue. From and out of the QIB portion 5 per cent for mutual funds, 15 per cent to non-institutional bidders and 35 per cent to retail investors.
The company is primarily engaged in the business of solvent extraction, refining of edible oils and vanaspati manufacturing. At present the company has 680 TPD of seed processing, 600 TPD of solvent extraction, 1200 TPD of refining and 200 TPD of vanaspati manufacturing capacities. The company plans to utilize the proceeds for - setting up a new 1500 TPD Soyabean processing plant near Gandhidham, Gujarat; expansion of the existing edible oil refinery at Surat; investment in Singapore subsidiary; funding part of the long term working capital; brand building activities; investment in increasing warehousing capacities and continuous capex for exising units; general corporate purposes and for public issue expenses.
ICRA has assigned Grade "3/5" to the IPO. The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the issue are Anand Rathi and Intensive Financial Services.
Fixed line telephony to be exempted from licence fee
The government on Friday said that fixed-line telephony will be exempted from licence fee to encourage service providers, especially those in the private sector, to go to the rural areas. BSNL will be the largest beneficiary of this move as it will save up to Rs 1,200 crore annually. Private operators such as Airtel, Reliance and Tata have minimum presence in the landline space.
“I have already asked the Telecom Commission to deliberate on the issue to exempt fixed-line telephony from licence fee, charged as percentage of Adjusted Gross Revenue (AGR),” telecom minister A Raja said at a function organised by the Cellular Operators Association of India (COAI).
Currently, telecom operators pay 6-10% of their total revenues, including revenue from landline and braodband, towards licence fees. Due to this announcement, state-run BSNL will be the biggest gainer as the state run PSU has over 90% market share in the fixed-line space. BSNL gets an annual revenue of about Rs 15,000 crore from its fixed-line operations and the PSU pays on an average, 8-9% of AGR as license fee to the government.
SRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2008, inter alia, have approved:
1. Buy-back through open market route (stock exchange route).
2. Buy-back at a price not exceeding Rs 160/- per equity share.
3. Buy-back offer shall remain open upto April 24, 2009 or such earlier date as may be determined by the Board at any time even if the maximum limit of Buy-back of shares has not been reached, by giving an appropriate notice for such earlier date, if any, whichever is earlier.
4. The proposed Buy-back could absorb a maximum of Rs 70.00 crores which is less than 10% of the paid up capital and free reserves of the Company.
The actual number of shares bought back would depend upon the average price paid for the shares bought back and the actual amount deployed in the Buy-back, subject to the limit specified in point No. 4 above.
Pyramid Saimira opens food court
Pyramid Saimira Theatre Ltd has informed BSE that Pyramid Saimira Group inaugurated its food court at TDI Mall, Rajouri Garden, New Delhi, on April 25, 2008. This is the group's second food court in North India, after Faridabad. The food court was inaugurated by Shri. Ramesh Lamba, MLA, Rajouri Garden, New Delhi, in the presence of Mr. Saminathan, Group Chairman, Pyramid Saimira Group and Mr. N Narayanan, Director, Pyramid Saimira Group.
Speaking at the launch of the food court, Mr. P S Saminathan, Group Chairman, Pyramid Saimira Group, said, "Pyramid Saimira focuses on 360 degrees entertainment, which includes food & beverages. We are evolving into a full scale food chain and our food offering also will focus on 360 degrees expansion from canteens in screens, food courts in theatrical locations, high street restaurants, institutional catering etc.
As a practice, we scale up in an aggressive manner and in just three months of start, we are inaugurating our second food court in the North India. We will be investing close to Rs 100 crore In the F&B division, over the next year and we expect that this will contribute close to 25% of our top-line. We will be scaling up operations extensively in the NCR, and Delhi is a pivotal market for us.
With increase in disposable income of consumers, rapid urbanization, and increasing popularity of convenience foods, food and beverage sector is expected to grow at an incredible pace and Pyramid Saimira will capitalize on this boom.
"Commenting on Pyramid Saimira Group's strategy, Mr. N Narayanan, Director, said "We are the only organised food court operator, who is not sub-contracting the food with various vendors, but has developed various genres of food offering and has organically owned about so von distinctive brands, each catering to a specific cuisine.
"Commenting on the exclusivity of the Pyramid Saimira food court, Mr. Alok Kumar, Vice - President, Food & Beverage, Pyramid Saimira Group, said, "Our paramount focus at Pyramid Saimira food court will be food safety, hygiene and consistent quality. All our employees are undergoing pre employment, as well as periodical medical examinations, as per international food handling guidelines Pyramid Saimira food court will offer its customers, high quality and safe food, without compromising on taste.
"Pyramid Saimira is creating a niche for itself in the F&B segment with 2 food courts in operation with the following brands - Apple Tree, Red Curry, Shivalay, augrita, Tahal, Beverage & More and the latest being Brahmin's Kitchen, an initiative to bring traditional Brahmin food in the modern format. Another segment of F&B, under the brand name, Cineteria is operating at 106 theatres, across South India.
Reliance power fixes date for bonus
Reliance Power Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from June 03, 2008 to June 05, 2008 for the purpose of Issue and allotment of Bonus shares
Court orders benifits for essar oil
Essar Oil Ltd has informed BSE that on April 24, 2008 the Company has received a judgment passed by a Division Bench of the Hon’ble High Court of Gujarat at Ahmedabad, restoring eligibility of the Company to avail Sales Tax / Value Added Tax deferment benefits to the extent of 125% of eligible capital investment in the Company’s Refinery Project at Vadinar, District Jamnagar, under the New Capital Incentive Policy — Capital Investment Incentive to Premier / Prestigious Unit, Scheme 1995-2000.
The High Court has directed the Government of Gujarat to grant the above benefits and issue Final Eligibility Certificate within one month subject to certain concessions from the Company
Gokul Refoils and solvents IPO to hit market on may 8
Gokul Refoils and Solvent plans to enter the capital market on May 8 with its initial public offering of 71,58,392 equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process.
The company has fixed a price band of Rs 175-Rs 195 per share. The issue will close on May 13. The issue comprises a reservation of upto 75,000 equity shares for employees and a net issue to the public of 70,83,392 equity shares. The issue will constitute 27.14 per cent of the fully diluted post issue paid-up capital of the company. Qualified institutional buyers shall be allocated 50 per cent of the issue. From and out of the QIB portion 5 per cent for mutual funds, 15 per cent to non-institutional bidders and 35 per cent to retail investors.
The company is primarily engaged in the business of solvent extraction, refining of edible oils and vanaspati manufacturing. At present the company has 680 TPD of seed processing, 600 TPD of solvent extraction, 1200 TPD of refining and 200 TPD of vanaspati manufacturing capacities. The company plans to utilize the proceeds for - setting up a new 1500 TPD Soyabean processing plant near Gandhidham, Gujarat; expansion of the existing edible oil refinery at Surat; investment in Singapore subsidiary; funding part of the long term working capital; brand building activities; investment in increasing warehousing capacities and continuous capex for exising units; general corporate purposes and for public issue expenses.
ICRA has assigned Grade "3/5" to the IPO. The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the issue are Anand Rathi and Intensive Financial Services.
Fixed line telephony to be exempted from licence fee
The government on Friday said that fixed-line telephony will be exempted from licence fee to encourage service providers, especially those in the private sector, to go to the rural areas. BSNL will be the largest beneficiary of this move as it will save up to Rs 1,200 crore annually. Private operators such as Airtel, Reliance and Tata have minimum presence in the landline space.
“I have already asked the Telecom Commission to deliberate on the issue to exempt fixed-line telephony from licence fee, charged as percentage of Adjusted Gross Revenue (AGR),” telecom minister A Raja said at a function organised by the Cellular Operators Association of India (COAI).
Currently, telecom operators pay 6-10% of their total revenues, including revenue from landline and braodband, towards licence fees. Due to this announcement, state-run BSNL will be the biggest gainer as the state run PSU has over 90% market share in the fixed-line space. BSNL gets an annual revenue of about Rs 15,000 crore from its fixed-line operations and the PSU pays on an average, 8-9% of AGR as license fee to the government.
Thursday, April 24, 2008
Mysore cement results
Here are the results declared by mysore cements for the quarter ending march 08. I had recommeded this stock for investment earlier with details and would now like to review the quarterly numbers of the company.
Figure are in lakhs
Net Sales/Income from Operations 18146.27
Other Income 887.59
Total Income 19033.86
Increase/Decrease in Stock 506.33
Consumption of Raw Materials 7227.40
Purchase of traded goods -
Employees Cost 1390.47
Depreciation 367.27
Other Expenditure 5723.68
Total Expenditure 15215.15
Interest 76.35
Exceptional items
-
Profit(+)/Loss(-) before tax 3742.36
Tax Expense 21.22
Net Profit(+)/Loss(-) after tax 3721.14
Extraordinary Items -
Net Profit (+) / Loss (-) for the period 3721.14
Dividend (%)
-
Face Value (in Rs.) 10.00
Paid-up Equity Share Capital 15801.88
Reserves excluding Revaluation Reserves -
Basic EPS before Extraordinary items (in Rs.) 2.33
Diluted EPS before Extraordinary items (in Rs.) 2.33
Basic EPS after Extraordinary items (in Rs.) 2.33
Diluted EPS after Extraordinary items (in Rs.) 2.33
Public Shareholding (Number of Shares) 64426449.00
Public Shareholding (%) 40.77
The company has been able to give a good performance in this quarter inspite of pressure from the govt to keep a check on the prices of cement to control inflation. The EPS of the company has risen from 1.23 in the previous quarter to 2.33 in this quarter showing a very healty improvemet. Calculated on an annual basis the stock is now available at a p/e of 4 which is very low showing there is significant room for improvement. A close look at the results have shown that the other income has a constituent of Rs 59 lakh on account of sale of assets of sponge iron plant and some further progress in the sale of steel plant assets in expected in this quarter. The board has also approved appointing consultants for suggestions on increasing shareholder value.
Figure are in lakhs
Net Sales/Income from Operations 18146.27
Other Income 887.59
Total Income 19033.86
Increase/Decrease in Stock 506.33
Consumption of Raw Materials 7227.40
Purchase of traded goods -
Employees Cost 1390.47
Depreciation 367.27
Other Expenditure 5723.68
Total Expenditure 15215.15
Interest 76.35
Exceptional items
-
Profit(+)/Loss(-) before tax 3742.36
Tax Expense 21.22
Net Profit(+)/Loss(-) after tax 3721.14
Extraordinary Items -
Net Profit (+) / Loss (-) for the period 3721.14
Dividend (%)
-
Face Value (in Rs.) 10.00
Paid-up Equity Share Capital 15801.88
Reserves excluding Revaluation Reserves -
Basic EPS before Extraordinary items (in Rs.) 2.33
Diluted EPS before Extraordinary items (in Rs.) 2.33
Basic EPS after Extraordinary items (in Rs.) 2.33
Diluted EPS after Extraordinary items (in Rs.) 2.33
Public Shareholding (Number of Shares) 64426449.00
Public Shareholding (%) 40.77
The company has been able to give a good performance in this quarter inspite of pressure from the govt to keep a check on the prices of cement to control inflation. The EPS of the company has risen from 1.23 in the previous quarter to 2.33 in this quarter showing a very healty improvemet. Calculated on an annual basis the stock is now available at a p/e of 4 which is very low showing there is significant room for improvement. A close look at the results have shown that the other income has a constituent of Rs 59 lakh on account of sale of assets of sponge iron plant and some further progress in the sale of steel plant assets in expected in this quarter. The board has also approved appointing consultants for suggestions on increasing shareholder value.
Top news for today
HOEC- open offer
N M Rothschild & Sons India Pvt Ltd ("Manager to the Offer") on behalf of Eni UK Holding Plc ("Acquirer") Eni S.p.A, Burren Energy India Ltd & Burren Shakti Ltd ("Persons Acting in Concert"/ "PACs") has issued this Public Announcement ("PA") to the shareholders of Hindustan Oil Exploration Company Ltd ("Target Company"), Pursuant and in compliance with Regulations 10 & 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ( "SEBI (SAST) Regulations" or "Regulations").
The Offer
The Acquirer is making this Offer to acquire up to 26,115,455 fully paid up shares ("Offer Size") of the Target Company representing in aggregate 20% of the Paid up equity share capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 144.2 per share ("Offer Price") payable in cash.Schedule of Activities
:Specified Date - April 24, 2008
Date of Opening of the Offer - June 11, 2008
Date of Closing of the offer - June 30,2008
ELF trading board to consider bonus issue
ELF Trading & Chemicals Manufacturing Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 02, 2008, inter alia, may consider a proposal for issue of Bonus Shares.The Board of Directors may also consider waiving the entitlement for the aforesaid issue of bonus shares by the "promoter Group" in accordance with Companies Act, 1956, and all other applicable provisions, if any.
Gujarat NRE coke declares results
Gujarat NRE Coke Ltd has announced the following results for the quarter & year ended March 31, 2008
:The Unaudited results for the Quarter ended March 31, 2008The Company has posted a net profit of Rs 642.00 million for the quarter ended March 31, 2008 as compared to Rs 509.30 million for the quarter ended March 31, 2007. Total Income has increased from Rs 1866.70 million for the quarter ended March 31, 2007 to Rs 3993.60 million for the quarter ended March 31, 2008.
The Un-Audited results for the Year ended March 31, 2008The Company has posted a net profit of Rs 1695.40 million for the year ended March 31, 2008 as compared to Rs 557.30 million for the year ended March 31, 2007. Total Income has increased from Rs 5336.00 million for the year ended March 31, 2007 to Rs 9179.00 million for the year ended March 31, 2008.The figures for the year ended March 31, 2007 are Audited.
Mercator lines - updates
The Company has entered into a Memorandum of Agreement (the "MOA") for the purchase of a geared Panama dry bulk carrier named 'YK Taurus' (the "Vessel"), at a total consideration price of approximately US$ 65.5 million (the "Proposed Acquisition"). Built by Tsuneishi Shipbuilding Co Ltd in Japan in 1997, the vessel is of aggregate capacity 69,186 dwt and was purchased from Ken Line, S.A., of the Republic of Panama (the "Seller").
The vessel is the second to be acquired by the Company since the Company IPO on December 14, 2007. It is currently hired on a time charter-in basis by the Company, and the time charter is scheduled to expire at the end of April 2008. The vessel is due to be delivered between June 1 and June 30, 2008, expanding the Company’s owned vessels to 9 out of which 5 are geared Panamaxes. Post- acquisition, the Company will operate a fleet of 11 dry bulk vessels, of which 9 are owned and 2 chartered-in, comprising geared and geadess Panamaxes and Kamsarmaxes with an aggregate capacity of 829,057 dwt.
The Proposed Acquisition was arrived at a willing buyer willing seller basis and the consideration was negotiated on an arm’s length basis. It is tentatively proposed to be financed by the proceeds of the IPO, internal accruals and debt.This Proposed Acquisition is expected to have a positive material impact on the net tangible assets per share, earnings per share and operating results of the Company for the financial year ending March 31, 2009
Tata Power Completes the Signing of Financial Agreements for 4000 MW Ultra Mega Power Project at Mundra, Gujarat
Tata Power Company Ltd has informed BSE that, on April 24, 2008, the Company completed the signing of financial agreements for the 4000 MW Ultra Mega Power Project coming up at Mundra, Gujarat under the Special Purpose Vehicle Coastal Gujarat Power Ltd. The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores.
In this regards the Company has issued the following Press Release :
"The Tata Power Company Ltd, on April 24, 2008 has announced the completion of signing of financial agreements for 4000 MW Ultra Mega Power Project (UMPP), coming up at Mundra, Gujarat under the Special Purpose Vehicle (SPV) Coastal Gujarat Power Ltd (CGPL). The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks Including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores. The ECB’s include The Export-Import Bank of Korea, International Finance Corporation, Korea Export insurance Corporation, Asian Development Bank, BNP Paribas and Rupee lenders Include SBI (Lead bank for rupee lenders), India infrastructure Finance Co Ltd., Housing and Urban Development Corporation Ltd., Oriental Bank of Commerce, Vijaya Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and State Bank of Indore. SBI Caps are the Financial Advisors and Mandated Lead Arranger for Rupee loans.
Speaking on the occasion, Mr. Prasad N Menon, Managing Director, Tata Power said "The signing of the financing agreements for Mundra UMPP is an important milestone. The good response demonstrates the faith of the lenders in our execution capabilities and expertise to complete the project in time. The terms of debt financing provides us long tenure of loans supporting our competetive bid price assumptions.
"The 4000 MW Mundra Ultra Mega Power Project (UMPP) is the first of the UMPP which heralds the entry of super critical boiler technology In India for the first time which is significantly environment friendly than the conventional ones using sub-critical boiler technology. The project site, approx 1000 Hectares is located south of Tunda Wand village in Mundra Taluka, Kutch district of Gujarat. The project consists of 5 units, each of 800 MW which will generate saleable power of 3800 MW to be supplied to five states namely Gujarat, Maharashtra, Rajasthan, Haryana and Punjab. The super-critical technology and the choice of unit sizes will help the project achieve higher efficiency thus saving fuel and reducing greenhouse gas emissions vis-à-vis conventional technology prevailing in the country.The Site preparatory works are in progress and orders for all major equipments have been placed. The Company has signed the contract for complete Boiler island scope on EPC basis with Doosan Heavy Industries & Construction Co Ltd., Korea and contract for supply of Steam Turbine Generators with Toshiba Corporation. The project has been comprehensively covered by a seamless Insurance cover by Oriental Insurance Co Lied.
N M Rothschild & Sons India Pvt Ltd ("Manager to the Offer") on behalf of Eni UK Holding Plc ("Acquirer") Eni S.p.A, Burren Energy India Ltd & Burren Shakti Ltd ("Persons Acting in Concert"/ "PACs") has issued this Public Announcement ("PA") to the shareholders of Hindustan Oil Exploration Company Ltd ("Target Company"), Pursuant and in compliance with Regulations 10 & 12 and other applicable provisions of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ( "SEBI (SAST) Regulations" or "Regulations").
The Offer
The Acquirer is making this Offer to acquire up to 26,115,455 fully paid up shares ("Offer Size") of the Target Company representing in aggregate 20% of the Paid up equity share capital of the Target Company in terms of Regulation 21(1) of the SEBI (SAST) Regulations, at a price of Rs 144.2 per share ("Offer Price") payable in cash.Schedule of Activities
:Specified Date - April 24, 2008
Date of Opening of the Offer - June 11, 2008
Date of Closing of the offer - June 30,2008
ELF trading board to consider bonus issue
ELF Trading & Chemicals Manufacturing Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 02, 2008, inter alia, may consider a proposal for issue of Bonus Shares.The Board of Directors may also consider waiving the entitlement for the aforesaid issue of bonus shares by the "promoter Group" in accordance with Companies Act, 1956, and all other applicable provisions, if any.
Gujarat NRE coke declares results
Gujarat NRE Coke Ltd has announced the following results for the quarter & year ended March 31, 2008
:The Unaudited results for the Quarter ended March 31, 2008The Company has posted a net profit of Rs 642.00 million for the quarter ended March 31, 2008 as compared to Rs 509.30 million for the quarter ended March 31, 2007. Total Income has increased from Rs 1866.70 million for the quarter ended March 31, 2007 to Rs 3993.60 million for the quarter ended March 31, 2008.
The Un-Audited results for the Year ended March 31, 2008The Company has posted a net profit of Rs 1695.40 million for the year ended March 31, 2008 as compared to Rs 557.30 million for the year ended March 31, 2007. Total Income has increased from Rs 5336.00 million for the year ended March 31, 2007 to Rs 9179.00 million for the year ended March 31, 2008.The figures for the year ended March 31, 2007 are Audited.
Mercator lines - updates
The Company has entered into a Memorandum of Agreement (the "MOA") for the purchase of a geared Panama dry bulk carrier named 'YK Taurus' (the "Vessel"), at a total consideration price of approximately US$ 65.5 million (the "Proposed Acquisition"). Built by Tsuneishi Shipbuilding Co Ltd in Japan in 1997, the vessel is of aggregate capacity 69,186 dwt and was purchased from Ken Line, S.A., of the Republic of Panama (the "Seller").
The vessel is the second to be acquired by the Company since the Company IPO on December 14, 2007. It is currently hired on a time charter-in basis by the Company, and the time charter is scheduled to expire at the end of April 2008. The vessel is due to be delivered between June 1 and June 30, 2008, expanding the Company’s owned vessels to 9 out of which 5 are geared Panamaxes. Post- acquisition, the Company will operate a fleet of 11 dry bulk vessels, of which 9 are owned and 2 chartered-in, comprising geared and geadess Panamaxes and Kamsarmaxes with an aggregate capacity of 829,057 dwt.
The Proposed Acquisition was arrived at a willing buyer willing seller basis and the consideration was negotiated on an arm’s length basis. It is tentatively proposed to be financed by the proceeds of the IPO, internal accruals and debt.This Proposed Acquisition is expected to have a positive material impact on the net tangible assets per share, earnings per share and operating results of the Company for the financial year ending March 31, 2009
Tata Power Completes the Signing of Financial Agreements for 4000 MW Ultra Mega Power Project at Mundra, Gujarat
Tata Power Company Ltd has informed BSE that, on April 24, 2008, the Company completed the signing of financial agreements for the 4000 MW Ultra Mega Power Project coming up at Mundra, Gujarat under the Special Purpose Vehicle Coastal Gujarat Power Ltd. The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores.
In this regards the Company has issued the following Press Release :
"The Tata Power Company Ltd, on April 24, 2008 has announced the completion of signing of financial agreements for 4000 MW Ultra Mega Power Project (UMPP), coming up at Mundra, Gujarat under the Special Purpose Vehicle (SPV) Coastal Gujarat Power Ltd (CGPL). The cost of the project is estimated at INR 17000 crores (USD 4.2 billion) with the first of the five units to be commissioned in September 2011. The entire plant is expected to be commissioned by end of 2012.
A Consortium of Banks Including leading multilateral agencies and Exim Banks are participating in the financing of this project. The financing comprises of equity of Rs 4250 crores, External Commercial Borrowings (ECB) of upto USD 1.8 billion and Rupee Loans of upto Rs 5550 crores. The ECB’s include The Export-Import Bank of Korea, International Finance Corporation, Korea Export insurance Corporation, Asian Development Bank, BNP Paribas and Rupee lenders Include SBI (Lead bank for rupee lenders), India infrastructure Finance Co Ltd., Housing and Urban Development Corporation Ltd., Oriental Bank of Commerce, Vijaya Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and State Bank of Indore. SBI Caps are the Financial Advisors and Mandated Lead Arranger for Rupee loans.
Speaking on the occasion, Mr. Prasad N Menon, Managing Director, Tata Power said "The signing of the financing agreements for Mundra UMPP is an important milestone. The good response demonstrates the faith of the lenders in our execution capabilities and expertise to complete the project in time. The terms of debt financing provides us long tenure of loans supporting our competetive bid price assumptions.
"The 4000 MW Mundra Ultra Mega Power Project (UMPP) is the first of the UMPP which heralds the entry of super critical boiler technology In India for the first time which is significantly environment friendly than the conventional ones using sub-critical boiler technology. The project site, approx 1000 Hectares is located south of Tunda Wand village in Mundra Taluka, Kutch district of Gujarat. The project consists of 5 units, each of 800 MW which will generate saleable power of 3800 MW to be supplied to five states namely Gujarat, Maharashtra, Rajasthan, Haryana and Punjab. The super-critical technology and the choice of unit sizes will help the project achieve higher efficiency thus saving fuel and reducing greenhouse gas emissions vis-à-vis conventional technology prevailing in the country.The Site preparatory works are in progress and orders for all major equipments have been placed. The Company has signed the contract for complete Boiler island scope on EPC basis with Doosan Heavy Industries & Construction Co Ltd., Korea and contract for supply of Steam Turbine Generators with Toshiba Corporation. The project has been comprehensively covered by a seamless Insurance cover by Oriental Insurance Co Lied.
Tuesday, April 22, 2008
Poly medicure ltd
This company which was establised in 1995 has come a long way and could prove to an excellent bet itn the future. The company is engaged in the manufacture of following products used for medical purposes.
Infusion therapy products
I.V.cannulae
Three way stop cock
Three way stop cock HP
Stop cock with extention tube
I.V. infusion sets
Flow regulator
Obturator
Extension tubes high and low pressure
Polyvol Borette set
Anaesthesia products
Suction cateters
Nasal oxygen cannula
Oxygen catheter
Yankaur suction set
Guedel airway
Urology products
Urine collection bags
Urine drainage catheters
Gastronetrology products
Ryle's tube
Levin's tube
Mucus extractor
Infact feeding tube
Umbilical catheter
stomach tube
Blood management products
Blood administration set
Blood bag systems
transfer bag
Blood taking set
Surgery and wound drainage products
redon drain
Close wound suction unit
thoracic drainage catheter
Thoracic catheter with trocar
abdominal drainage set
Water sealed drainage set
POLYMED's Quality System encompasses a comprehensive and exhaustive series of physical, chemical, biological & microbiological tests and inspection at different stages in the manufacturing cycle, begining with constant surveillance of raw materials and its suppliers; intensive in-process control of all manufactured components & sub-assemblies to the final inspection & testing of the finished products. POLYMED has successfully implemented a well documented QMS (Quality Management System) which has been accredited by SGS Yarsley International Certification Services, United Kingdom with ISO 9001:2000, ISO-13485:2003 and CE mark from DNV, Norway thus making the entire product range compliant with International Quality Standards.
The company reported a turnover of Rs 213 million for the quarter ending dec 07 and a net profit of 22.2 million on an equity base of 55.06 million reslting in to a quarterly eps of rs 3.82 The company paid a dividend of 25% for the last financial year and one can expect a better one this year. The plant in china is expected to begin production in the first quarter of the current financial which will further add to topline and bottomline of the company. The stock is avaiable at a p/e of around 7 and is a very good long term bet.
Infusion therapy products
I.V.cannulae
Three way stop cock
Three way stop cock HP
Stop cock with extention tube
I.V. infusion sets
Flow regulator
Obturator
Extension tubes high and low pressure
Polyvol Borette set
Anaesthesia products
Suction cateters
Nasal oxygen cannula
Oxygen catheter
Yankaur suction set
Guedel airway
Urology products
Urine collection bags
Urine drainage catheters
Gastronetrology products
Ryle's tube
Levin's tube
Mucus extractor
Infact feeding tube
Umbilical catheter
stomach tube
Blood management products
Blood administration set
Blood bag systems
transfer bag
Blood taking set
Surgery and wound drainage products
redon drain
Close wound suction unit
thoracic drainage catheter
Thoracic catheter with trocar
abdominal drainage set
Water sealed drainage set
POLYMED's Quality System encompasses a comprehensive and exhaustive series of physical, chemical, biological & microbiological tests and inspection at different stages in the manufacturing cycle, begining with constant surveillance of raw materials and its suppliers; intensive in-process control of all manufactured components & sub-assemblies to the final inspection & testing of the finished products. POLYMED has successfully implemented a well documented QMS (Quality Management System) which has been accredited by SGS Yarsley International Certification Services, United Kingdom with ISO 9001:2000, ISO-13485:2003 and CE mark from DNV, Norway thus making the entire product range compliant with International Quality Standards.
The company reported a turnover of Rs 213 million for the quarter ending dec 07 and a net profit of 22.2 million on an equity base of 55.06 million reslting in to a quarterly eps of rs 3.82 The company paid a dividend of 25% for the last financial year and one can expect a better one this year. The plant in china is expected to begin production in the first quarter of the current financial which will further add to topline and bottomline of the company. The stock is avaiable at a p/e of around 7 and is a very good long term bet.
Monday, April 21, 2008
Resullts corner
United spirits
United Spirits Ltd has announced the following Unaudited results for the quarter & year ended March 31, 2008
:The results for the Quarter ended March 31, 2008
The Company has posted a net profit of Rs 651.10 million for the quarter ended March 31, 2008 as compared to Rs 535.20 million for the quarter ended March 31, 2007. Total Income has increased from Rs 6898.00 million for the quarter ended March 31, 2007 to Rs 7697.20 million for the quarter ended March 31, 2008.
The results for the Year ended March 31, 2008
The Company has posted a net profit of Rs 3210.60 million for the year ended March 31, 2008 as compared to Rs 4940.10 million for the year ended March 31, 2007. Total Income has increased from Rs 27787.40 million for the year ended March 31, 2007 to Rs 31956.40 million for the year ended March 31, 2008.
The figures for the year ended March 31, 2007 are Audited
TCS
Tata Consultancy Services Ltd (TCS) has announced the following Audited results for the year ended March 31, 2008
:The results for the Year ended March 31, 2008
The Company has posted a net profit after taxes of Rs 45087.60 million for the year ended March 31, 2008 as compared to Rs 37572.90 million for the year ended March 31, 2007. Total Income has increased from Rs 151565.20 million for the year ended March 31, 2007 to Rs 189796.70 million for the year ended March 31, 2008.
The Consolidated results are as follows:
The consolidated results for the Year ended March 31, 2008
The Group has posted a net profit of Rs 50260.20 million for the year ended March 31, 2008 as compared to Rs 42126.30 million for the year ended March 31, 2007. Total Income has increased from Rs 189142.60 million for the year ended March 31, 2007 to Rs 233494.50 million for the year ended March 31, 2008.
United Spirits Ltd has announced the following Unaudited results for the quarter & year ended March 31, 2008
:The results for the Quarter ended March 31, 2008
The Company has posted a net profit of Rs 651.10 million for the quarter ended March 31, 2008 as compared to Rs 535.20 million for the quarter ended March 31, 2007. Total Income has increased from Rs 6898.00 million for the quarter ended March 31, 2007 to Rs 7697.20 million for the quarter ended March 31, 2008.
The results for the Year ended March 31, 2008
The Company has posted a net profit of Rs 3210.60 million for the year ended March 31, 2008 as compared to Rs 4940.10 million for the year ended March 31, 2007. Total Income has increased from Rs 27787.40 million for the year ended March 31, 2007 to Rs 31956.40 million for the year ended March 31, 2008.
The figures for the year ended March 31, 2007 are Audited
TCS
Tata Consultancy Services Ltd (TCS) has announced the following Audited results for the year ended March 31, 2008
:The results for the Year ended March 31, 2008
The Company has posted a net profit after taxes of Rs 45087.60 million for the year ended March 31, 2008 as compared to Rs 37572.90 million for the year ended March 31, 2007. Total Income has increased from Rs 151565.20 million for the year ended March 31, 2007 to Rs 189796.70 million for the year ended March 31, 2008.
The Consolidated results are as follows:
The consolidated results for the Year ended March 31, 2008
The Group has posted a net profit of Rs 50260.20 million for the year ended March 31, 2008 as compared to Rs 42126.30 million for the year ended March 31, 2007. Total Income has increased from Rs 189142.60 million for the year ended March 31, 2007 to Rs 233494.50 million for the year ended March 31, 2008.
L&T to develop Rs 3500 Cr "Integrated Commercial Complex at Seawoods, Navi Mumbai
Larsen & Toubro Ltd on April 21, 2008 has announced that the Property Development Division of the Company proposes to develop a world class Integrated Commercial Complex at Seawoods railway station, Navi Mumbai over 40 acres of land at a project cost of Rs 3500 crore. L&T will also develop a state-of-art Seawoods-Darave Railway station over the next three years.
The Development Agreement between L&T and CIDCO was signed on April 21, 2008 at CIDCO's Mumbai office by Mr. G S Gill, Vice Chairman and Managing Director CIDCO and Mr. Vivek Mehta, Vice President and Head - Property Development for L&T, in the presence of Mr. Y M Deosthalee, CFO and Member, L&T Board, and other senior CIDCO officials. The proposed development project is planned to be completed over the next 5 years.
CIDCO had floated this proposal in mid 2007 and the same was opened on February 05, 08. L&T was one of the three qualified developers and bagged this project by bidding Rs 1809 crore.
The project has the potential to develop 4 to 5 Million Sq. ft. of usable space. The development will consist of a modern railway station, large format retail and entertainment space, multiplexes, office complex, and premium category hotel and service apartments. L&T is in the process of short listing international architects to develop the concept and master plan for the project. M/s Cushman Wakefield and Jones Lang Lasalle Meghraj have been engaged for real estate advisory services for the project. This is the single largest investment by the Company in the Real Estate Development Sector.
Navi Mumbai real estate market has gained importance steadily over the past few years with the increase in commercial activity and influx of IT companies setting up shop in Vashi, Kharghar, Belapur and Airoli. Approximately 8 million Sq. ft. of IT space is proposed to be constructed in Navi Mumbai over next three years. Other infrastructure initiatives like the Navi Mumbai International Airport, Navi Mumbai Multi- Services SEZ, Mumbai Trans Harbor link connecting Sewri to Navi Mumbai and proposed Mumbai Metro Rail project is expected to create huge demand for quality retail and office space, and hospitality in Navi Mumbai.
The proposed project is very close to the Palm Beach road and has access roads on all four sides. The impetus of the Company will be to plan superior traffic management system and to develop parking space for 5000 vehicles to cater to the railway station as well as the commercial complex. Also the appropriate integration of various components of this project holds the key to its success.
L&T proposes to develop this project as a destination for urban shopping and entertainment catering to Navi Mumbai and Mumbai. This will be done by dedicating large spaces for entertainment, gaming sports activities and entertainment facilities for children. The Company also proposes to create a differentiated shopping experience by creating various specialty malls like home interior and jewellery malls.
Currently there is a shortage of 'A' class offices in Navi mumbai. Approximately half of the project will be dedicated to be developed as 'A' class, high end office complexes catering to various sectors like Banking and Financial services institutions, logistics, Aviation, Engineering, Automobiles, Manufacturing and Communication. The office complexes will have high end operations and management facilities and will be furnished with superior building management systems specially designed by L&T. Also premium facilities like Helipads on building tops will make it an ideal place for companies to set up their corporate offices. The commercial offices will be high-rise towers with both small and large floor plates to accommodate all types of clientele. Space will be allocated for making built to suit facilities for corporates.
L&T has been approached by international hospitality chains for operations of the premium category hotel and service apartments to cater to the growing business activity in and around Navi Mumbai.
L&T considers property development as a good opportunity in the growing retail, commercial, hospitality and residential sectors, due to its inherent project management, execution strength and stringent quality standards. L&T has already announced its intentions to float a Realty Equity fund to attract investments to such long term, highly profitable project ventures.Once this project is commissioned, L&T will develop in-house capabilities to build and operate such Transit Oriented developments around Railway Stations. This expertise will help the company in future on several such projects of redevelopment of railway stations across the country.
The Development Agreement between L&T and CIDCO was signed on April 21, 2008 at CIDCO's Mumbai office by Mr. G S Gill, Vice Chairman and Managing Director CIDCO and Mr. Vivek Mehta, Vice President and Head - Property Development for L&T, in the presence of Mr. Y M Deosthalee, CFO and Member, L&T Board, and other senior CIDCO officials. The proposed development project is planned to be completed over the next 5 years.
CIDCO had floated this proposal in mid 2007 and the same was opened on February 05, 08. L&T was one of the three qualified developers and bagged this project by bidding Rs 1809 crore.
The project has the potential to develop 4 to 5 Million Sq. ft. of usable space. The development will consist of a modern railway station, large format retail and entertainment space, multiplexes, office complex, and premium category hotel and service apartments. L&T is in the process of short listing international architects to develop the concept and master plan for the project. M/s Cushman Wakefield and Jones Lang Lasalle Meghraj have been engaged for real estate advisory services for the project. This is the single largest investment by the Company in the Real Estate Development Sector.
Navi Mumbai real estate market has gained importance steadily over the past few years with the increase in commercial activity and influx of IT companies setting up shop in Vashi, Kharghar, Belapur and Airoli. Approximately 8 million Sq. ft. of IT space is proposed to be constructed in Navi Mumbai over next three years. Other infrastructure initiatives like the Navi Mumbai International Airport, Navi Mumbai Multi- Services SEZ, Mumbai Trans Harbor link connecting Sewri to Navi Mumbai and proposed Mumbai Metro Rail project is expected to create huge demand for quality retail and office space, and hospitality in Navi Mumbai.
The proposed project is very close to the Palm Beach road and has access roads on all four sides. The impetus of the Company will be to plan superior traffic management system and to develop parking space for 5000 vehicles to cater to the railway station as well as the commercial complex. Also the appropriate integration of various components of this project holds the key to its success.
L&T proposes to develop this project as a destination for urban shopping and entertainment catering to Navi Mumbai and Mumbai. This will be done by dedicating large spaces for entertainment, gaming sports activities and entertainment facilities for children. The Company also proposes to create a differentiated shopping experience by creating various specialty malls like home interior and jewellery malls.
Currently there is a shortage of 'A' class offices in Navi mumbai. Approximately half of the project will be dedicated to be developed as 'A' class, high end office complexes catering to various sectors like Banking and Financial services institutions, logistics, Aviation, Engineering, Automobiles, Manufacturing and Communication. The office complexes will have high end operations and management facilities and will be furnished with superior building management systems specially designed by L&T. Also premium facilities like Helipads on building tops will make it an ideal place for companies to set up their corporate offices. The commercial offices will be high-rise towers with both small and large floor plates to accommodate all types of clientele. Space will be allocated for making built to suit facilities for corporates.
L&T has been approached by international hospitality chains for operations of the premium category hotel and service apartments to cater to the growing business activity in and around Navi Mumbai.
L&T considers property development as a good opportunity in the growing retail, commercial, hospitality and residential sectors, due to its inherent project management, execution strength and stringent quality standards. L&T has already announced its intentions to float a Realty Equity fund to attract investments to such long term, highly profitable project ventures.Once this project is commissioned, L&T will develop in-house capabilities to build and operate such Transit Oriented developments around Railway Stations. This expertise will help the company in future on several such projects of redevelopment of railway stations across the country.
Thursday, April 17, 2008
Economy news
Inflation effect : RBI hikes CRR by 50 basic points.
The Reserve Bank on Thursday hiked Cash Reserve Ratio, the amount of depositors' money that banks need to park with it, by half a per cent to tighten money supply, as part of concerted efforts with the government to ease inflation. The hike, which would take CRR to 8 per cent, will come into effect in two tranches of 0.25 per cent on April 26 and May 10. The measure would suck out liquidity to the tune of Rs 18,500 crore from the banking system and would leave banks with less money to lend and in turn would help cool inflation.
CRR effects : Home loans rates likely to increase
THursdays announcement by RBI of a hike in CRR is likely to effect retail loans as more of funds would be sucked out of the system and banks may need to hike rates to maintain their margins. Although most banks are likely to wait for the 29th of april before increasing the PLR but retail loans may be effected soon.
MMTC profits more than doubles
MMTC Ltd on Thursday announced a standalone net profit of Rs 90.62 crore for the quarter ended March 31, about 2.32 fold increase over the corresponding period a year ago. The company had a stand-alone net profit of Rs 38.90 crore for the corresponding quarter last year, the company said in a filing to the Bombay Stock Exchange. The standalone total income increased to Rs 9,421.60 crore for the quarter under review, from Rs 4,889.57 crore in the year-ago period. For the year ended March 31, the company posted a net profit of Rs 206.15 crore, compared to Rs 126.80 crore in the previous year. Total Income has increased to Rs 26,313.57 crore for the year from Rs 23,347.31 crore in the previous year. Shares of the company closed at Rs 29,377.60, up 4.21 per cent at the BSE.
Saffron buys 30% in Parsvnaths mumbai project
Saffron Group, which manages real estate investment funds, has picked up a 30 per cent stake in a Mumbai realty project of Parsvnath Developers for Rs 186 crore. The investment has been made through two of its funds - Yatra Capital and Saffron Real Estate Fund I (SIREF I).
Jarul Promoters & Developers, a special purpose vehicle (SPV) of Parsvnath, is developing the BEST bus depot near Bandra Kurla Complex, Mumbai's new business district. The investment by Saffron's funds have valued the project at Rs 620 crore.
Parsvnath bought the depot land, measuring 30, 820 square metres, in an open tender for Rs 42 crore. The project involves planning, designing, constructing and re-modeling a fully-equipped bus depot, staff housing and commercial offices
The Reserve Bank on Thursday hiked Cash Reserve Ratio, the amount of depositors' money that banks need to park with it, by half a per cent to tighten money supply, as part of concerted efforts with the government to ease inflation. The hike, which would take CRR to 8 per cent, will come into effect in two tranches of 0.25 per cent on April 26 and May 10. The measure would suck out liquidity to the tune of Rs 18,500 crore from the banking system and would leave banks with less money to lend and in turn would help cool inflation.
CRR effects : Home loans rates likely to increase
THursdays announcement by RBI of a hike in CRR is likely to effect retail loans as more of funds would be sucked out of the system and banks may need to hike rates to maintain their margins. Although most banks are likely to wait for the 29th of april before increasing the PLR but retail loans may be effected soon.
MMTC profits more than doubles
MMTC Ltd on Thursday announced a standalone net profit of Rs 90.62 crore for the quarter ended March 31, about 2.32 fold increase over the corresponding period a year ago. The company had a stand-alone net profit of Rs 38.90 crore for the corresponding quarter last year, the company said in a filing to the Bombay Stock Exchange. The standalone total income increased to Rs 9,421.60 crore for the quarter under review, from Rs 4,889.57 crore in the year-ago period. For the year ended March 31, the company posted a net profit of Rs 206.15 crore, compared to Rs 126.80 crore in the previous year. Total Income has increased to Rs 26,313.57 crore for the year from Rs 23,347.31 crore in the previous year. Shares of the company closed at Rs 29,377.60, up 4.21 per cent at the BSE.
Saffron buys 30% in Parsvnaths mumbai project
Saffron Group, which manages real estate investment funds, has picked up a 30 per cent stake in a Mumbai realty project of Parsvnath Developers for Rs 186 crore. The investment has been made through two of its funds - Yatra Capital and Saffron Real Estate Fund I (SIREF I).
Jarul Promoters & Developers, a special purpose vehicle (SPV) of Parsvnath, is developing the BEST bus depot near Bandra Kurla Complex, Mumbai's new business district. The investment by Saffron's funds have valued the project at Rs 620 crore.
Parsvnath bought the depot land, measuring 30, 820 square metres, in an open tender for Rs 42 crore. The project involves planning, designing, constructing and re-modeling a fully-equipped bus depot, staff housing and commercial offices
Tuesday, April 15, 2008
top news
RPower to $2 bn ECB issue next month
Anil Ambani group's Reliance Power has identified HSBC, Standard Chartered and ABN Amro among other foreign banks for raising $2 billion of debt to help fund its ultra mega power project in Sasan. The company has received the Reserve Bank of India (RBI) approval for this external commercial borrowing (ECB) proposal to finance the foreign exchange portion of debt for Sasan and is looking to complete the process next month, sources close to the development said. Besides, the company is also in the process of finalising the names of local financial institutions for a domestic debt of about Rs 6,600 crore in the next few months, they added. When asked about the financing plan to raise Rs 14,600 crore of debt.
L&T and TIDCO to build shipyard near Chennai
Larsen & Toubro (L&T) and Tamil Nadu Industrial Development Corporation (TIDCO) signed a joint venture agreement to set up an integrated shipyard complex and port facility near Chennai. The partners will invest an estimated Rs 3,000 crore in the new facility, which will come up at Kattupalli village near Ennore in Tiruvallur district of Tamil Nadu.Construction is likely to start by the end of 2008, and the project will be completed in 24 months.
The shipyard complex will build commercial ships like very large cargo carriers (VLCCs), specialised cargo ships for liquid and gas transportation and cruise vessels. It will also have the capability to build defence vessels, offshore platforms and floating production-cum-storage facilities for the oil and gas sector. The shipyard will also have facilities for refitting and re-engineering of commercial and defence vessels, and heavy engineering fabrication and components production for ship building purposes
Anil Ambani group's Reliance Power has identified HSBC, Standard Chartered and ABN Amro among other foreign banks for raising $2 billion of debt to help fund its ultra mega power project in Sasan. The company has received the Reserve Bank of India (RBI) approval for this external commercial borrowing (ECB) proposal to finance the foreign exchange portion of debt for Sasan and is looking to complete the process next month, sources close to the development said. Besides, the company is also in the process of finalising the names of local financial institutions for a domestic debt of about Rs 6,600 crore in the next few months, they added. When asked about the financing plan to raise Rs 14,600 crore of debt.
L&T and TIDCO to build shipyard near Chennai
Larsen & Toubro (L&T) and Tamil Nadu Industrial Development Corporation (TIDCO) signed a joint venture agreement to set up an integrated shipyard complex and port facility near Chennai. The partners will invest an estimated Rs 3,000 crore in the new facility, which will come up at Kattupalli village near Ennore in Tiruvallur district of Tamil Nadu.Construction is likely to start by the end of 2008, and the project will be completed in 24 months.
The shipyard complex will build commercial ships like very large cargo carriers (VLCCs), specialised cargo ships for liquid and gas transportation and cruise vessels. It will also have the capability to build defence vessels, offshore platforms and floating production-cum-storage facilities for the oil and gas sector. The shipyard will also have facilities for refitting and re-engineering of commercial and defence vessels, and heavy engineering fabrication and components production for ship building purposes
Sunday, April 13, 2008
PUNJ LLOYD
Punj Lloyd Limited is a transnational company specialising in the energy and infrastructure sectors. Our operations spread across the Middle East, Africa, the Caspian, Asia Pacific and South Asia.
The company provides the following EPC services
The company provides the following EPC services
Oil & Gas
Offshore
Onshore Field Development
Onshore and Offshore Pipelines
Tankage & Terminals
Process
Refineries
Civil Infrastructure
Highways, Flyovers & Bridges
Buildings
Metro Rail
Thermal Power
Asset Management
Asset Preservation and Maintenance
Telecom & Broadband
Bandwidth Solutions: Corporate & Retail
Internet Data Centre
Video Broadcast & OFC Solutions
Metro Ethernet & WiMax enabled
The company has a large fleet of sophisticated equipment including horizontal directional drilling rigs and pipe-laying barges. Central workshop and equipment maintenance yards in India, Indonesia, Abu Dhabi and Kazakhstan ensure minimal downtime on all projects.
Punj lloyd was formed in 1988 as punj lloyd engineering pvt ltd and was renamed as punj lloyd private ltd. In 1992 it becomes a public limited company and wins an overseas pipeline contract in indonesia. In 1993 it got its first middle east contract for feild development. IN 2002 in gained entry in to caspian, with KAM pipeline, kazakshtan. In 2005 it extablised its first thermal power plant in india.
It has several subsidaries namely
Punj Lloyd Pte Ltd, based in Singapore, is the holding company for Punj Lloyd subsidiaries in Asia Pacific region and is also working as an EPC contractor for projects in Singapore and other neighboring countries.
Some of the important projects of Punj Lloyd Singapore are listed below:
Bulk Liquid Products Terminal – Phase I , II, III for Horizon Terminals Limited
Petroleum Storage Expansion Project Phase 5 and Topside Facilities for Jetty 9 & 10 for PB Tankstore
Bulk Liquid Storage & Blending Facility at Meranti, Jurong Island, Singapore for Helios Terminal Corporation.
PT Punj lloyd, indonesia was incorporated in 1997 to establish a regional presence in South East Asia.
The company constructed a swamp and near shore pipeline project from Pt. Bouygues Offshore for the owner, TOTAL E&P Indonesie. This project resulted in the company’s continued presence in Kalimantan, with TOTAL E&P Indonesie as the client.
PT Sempec Indonesia is an established Engineering, Procurement and Construction (EPC) company.
Notable projects are as follows:
1,350 MMSCFD gas process plant, including power generation and utilities for Total Indonesie Peciko Project, Kalimantan
1 MTPY LPG recovery plant, including storage, power generation, utilities and onshore pipelines for PetroChina Indonesia Betara Development Project, Sumatra
1,200 MT offshore LPG refrigeration deck and 300 MT 4-leg jacket and loading terminals, including subsea pipelines for PetroChina Indonesia Betara Development Project, Sumatra Offshore
1,500 MT offshore oil & gas process deck and 1,000 MT 6-leg jacket for Korea Development Company Poleng Project, Java Sea
4 units of 2,000 MT wellhead process decks and 1,200 MT 4-leg jackets for ONGC Heera Re-Development Project, India
Punj Lloyd Kazakhstan LLP
projects executed
Oil & Gas Pipeline Project - Kashagan Experimental Program for AGIP KCO Engineering, Procurement and Construction (EPC) of Export Oil & Gas Pipeline 24” 150 kms. Under execution. Expected completion January 2009
SGP Offsites & Utilities for Tengizchevroil / PFD at Tengiz. Construction of Pipe fabrication and erection upto 70,000 inch dia with Mechanical equipment erection of 29 nos and 3 nos. tie ins. Completed in October 2006.
Large Bore and Small Bore Pipeline at Wellhead with Metering Station for Tengizchevroil / PFD at Tengiz. Construction of 410 Kms Well connecting Flowlines 2” to 24” and Metering Station. Successfully executed welding of 10” Pipe with 33 mm thickness. Pipe fabrication and erection of 140,000 inch dia. Completed in September 2006.
KAM Pipeline Project for Petrokazakhstan Kumkol Resources at Kyzylorda.Construction of 16” X 177 Kms Crude Oil Pipeline from Kumkol to Dhuzaly with 85% of local content. Completed in May 2003.
PLN Construction Ltd , specializing in Horizontal Directional Drilling with the largest fleet of Maxi HDD Rigs in India. The Company is active in the Indian market since 1997; PLN has executed crossings totaling 41600 meters. It has laid pipelines under expressways, railways, rivers, creeks and canals. The company owns two 250 Ton Rigs and one 400 Ton Rig, which can execute crossings up to large diameter.
Significant Projects
The longest HDD crossings in India to pull 18”+ 6” dia pipeline i.e. 1700 and 1770 metres at the Krishna-Godavari basin on the eastern coast of India for GAIL India
Longest HDD Crossings in India to pull 42” dia pipeline i.e. 1041 metres at Tapi River near Surat for ONGC
Longest HDD Crossing in India to pull 30” dia pipeline i.e. 1595 meters at Backwaters from Island to LFP 6 near Kochi for Bharat Petroleum Corporation Limited.
Longest HDD Crossing in India in Hard Rock Strata to pull 24” dia pipeline i.e. 900 meters across Kal River near Mumbai for Gail India Limited.
Friday, April 11, 2008
Todays top news
Punj lloyd updates
Punj Lloyd Ltd has informed BSE that the Company (i.e. Punj Lloyd Ltd) and its subsidiary Punj Lloyd Pte Ltd., Singapore have been awarded projects worth Rs 18640 million.Sembawang Infrastructure (India) Pvt Ltd (a subsidiary of Sembawang Engineers and Constructors Pte Ltd, Singapore) has been awarded projects worth Rs 970 million.With the award of above projects, the order backlog for Punj Lloyd Group is Rs 214,092 million. This is the total value of unexecuted orders as on January 01, 2008 and new orders received till date.
Lanco Infratech wins 3300 MW Power Projects in Uttar Pradesh
Lanco Infratech Ltd (LITL) has announced that the Company has won two super critical power projects with an installed capacity of 3300 MW in Uttar Pradesh. The bids called by the Uttar Pradesh Government for development of the two thermal power projects viz., Prayagraj of 1980 MW (3x660 MW) and Sangam of 1320 MW (2x660 MW) were opened on April 11, 2008 at the Office of Uttar Pradesh Power Corporation Ltd which conducted the competitive bidding process on behalf of the Government. As per the terms of the bids, while 90% of power generated through the projects must be sold to the Government of Uttar Pradesh, the remaining 10% could be sold by the successful bidder through the merchant market.LITL has won both the projects by outbidding other top players like Reliance Power, NTPC and Jindal Steel & Power. The projects include all the required infrastructure linkages like road, water, fuel and rail.From among the four leading business houses that participated in the bid for the Prayagraj Power Project, LITL won the bid with a quote of Rs 2.88 per unit. The second lowest bidder Reliance Power quoted Rs 2.94 per unit, followed by NTPC's Rs 3.44 and Jindal Steel & Power's Rs 3.591. The Sangam Power project had five players in the fray - LITL, Reliance Power, JSW, Jindal Steel & Power and RPG. Here also LITL won the bid through a quote of Rs 2.838 per unit while Reliance Power's was Rs 3.051, CESE's Rs 3.389, JSPL's Rs 3.51 and JSW's Rs 3.545.LANCO Chairman L Madhusudhan Rao said the Group needed to invest around Rs 14,000 crore for developing the two projects in Uttar Pradesh. With the addition of the two projects, LANCO would now have a total capacity of around 13,000 MW, covering both operational and those under implementation and development.
Rural electrification updates
Rural Electrification Corporation Ltd has informed BSE about the provisional financial highlights for the year 2007-08:"ROBUST FINANCIALS:The provisional and un-audited loan sanctions of Rs 607640 million during 2007-08 as against Rs 329250 millions registering an Increase of 84.55%.The provisional and un-audited loan disbursement of Rs 163030 million during 2007-08 as against Rs 137320 millions registering an increase of 18.72%.The provisional and un-audited profit before tax is Rs 13000 million during 2007-08 as against Rs 10060 millions registering an Increase of 29.22%.
Motilal oswal to consider stock split
Motilal Oswal Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 21, 2008, inter alia, to consider the following:1. The Audited financial results of the Company for the financial year ended March 31, 2008.2. The Audited Consolidated financial results of the Company and its subsidiaries for the financial year ended March 31, 2008.3. The recommendation, if any, of the dividend for the financial year ended March 31, 2008.4. The sub-division (split) of the Equity Shares of the Company, and5. The recommendation, if any, of the Remuneration / Compensation Committee to frame Employees' Stock Option Scheme(s) for the benefit of the employees of the Company and its subsidiaries
Punj Lloyd Ltd has informed BSE that the Company (i.e. Punj Lloyd Ltd) and its subsidiary Punj Lloyd Pte Ltd., Singapore have been awarded projects worth Rs 18640 million.Sembawang Infrastructure (India) Pvt Ltd (a subsidiary of Sembawang Engineers and Constructors Pte Ltd, Singapore) has been awarded projects worth Rs 970 million.With the award of above projects, the order backlog for Punj Lloyd Group is Rs 214,092 million. This is the total value of unexecuted orders as on January 01, 2008 and new orders received till date.
Lanco Infratech wins 3300 MW Power Projects in Uttar Pradesh
Lanco Infratech Ltd (LITL) has announced that the Company has won two super critical power projects with an installed capacity of 3300 MW in Uttar Pradesh. The bids called by the Uttar Pradesh Government for development of the two thermal power projects viz., Prayagraj of 1980 MW (3x660 MW) and Sangam of 1320 MW (2x660 MW) were opened on April 11, 2008 at the Office of Uttar Pradesh Power Corporation Ltd which conducted the competitive bidding process on behalf of the Government. As per the terms of the bids, while 90% of power generated through the projects must be sold to the Government of Uttar Pradesh, the remaining 10% could be sold by the successful bidder through the merchant market.LITL has won both the projects by outbidding other top players like Reliance Power, NTPC and Jindal Steel & Power. The projects include all the required infrastructure linkages like road, water, fuel and rail.From among the four leading business houses that participated in the bid for the Prayagraj Power Project, LITL won the bid with a quote of Rs 2.88 per unit. The second lowest bidder Reliance Power quoted Rs 2.94 per unit, followed by NTPC's Rs 3.44 and Jindal Steel & Power's Rs 3.591. The Sangam Power project had five players in the fray - LITL, Reliance Power, JSW, Jindal Steel & Power and RPG. Here also LITL won the bid through a quote of Rs 2.838 per unit while Reliance Power's was Rs 3.051, CESE's Rs 3.389, JSPL's Rs 3.51 and JSW's Rs 3.545.LANCO Chairman L Madhusudhan Rao said the Group needed to invest around Rs 14,000 crore for developing the two projects in Uttar Pradesh. With the addition of the two projects, LANCO would now have a total capacity of around 13,000 MW, covering both operational and those under implementation and development.
Rural electrification updates
Rural Electrification Corporation Ltd has informed BSE about the provisional financial highlights for the year 2007-08:"ROBUST FINANCIALS:The provisional and un-audited loan sanctions of Rs 607640 million during 2007-08 as against Rs 329250 millions registering an Increase of 84.55%.The provisional and un-audited loan disbursement of Rs 163030 million during 2007-08 as against Rs 137320 millions registering an increase of 18.72%.The provisional and un-audited profit before tax is Rs 13000 million during 2007-08 as against Rs 10060 millions registering an Increase of 29.22%.
Motilal oswal to consider stock split
Motilal Oswal Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 21, 2008, inter alia, to consider the following:1. The Audited financial results of the Company for the financial year ended March 31, 2008.2. The Audited Consolidated financial results of the Company and its subsidiaries for the financial year ended March 31, 2008.3. The recommendation, if any, of the dividend for the financial year ended March 31, 2008.4. The sub-division (split) of the Equity Shares of the Company, and5. The recommendation, if any, of the Remuneration / Compensation Committee to frame Employees' Stock Option Scheme(s) for the benefit of the employees of the Company and its subsidiaries
Thursday, April 10, 2008
Top news for today
Uco bank to raise Rs 625 cr
State run uco bank today approved raising of funds by issuing perpectual non cumilative preference shares. This may come in tranches through public issue or private placement to individuals, companies, state govt, central govt, institutional buyers, financial instutuions and banks.
IMF willing to discuss rising food prices
The International Monetary Fund is willing to be a part of a framework that will address the issue of rising global food prices, a top official of the multilateral lending institution has said. He said the issue of rising global food prices has indeed a negative impact on trade balances and current account. The problem in trade balance means problems in current account and problems in the current account means problems for the IMF. We are going to talk about this tomorrow ... and see what decision can be made... The IMF is totally prepared to be a part of this," Strauss- Kahn said.
RIL in talks with foreign firms to dilute 10% stake in KG Basin D6block
Ril is considering bringing in a strategic partner for deep water exploration in its KG basin D6 Block. The partners could be energy gaints likeExxonMobil, Shell, BP, Total and Petrobras, as these are the companies with required expertise. Goldman Sachs is the key consultant to the deal. RIL is believed to have reached up to 1,500-2,000 meters of drilling so far and there is scope for 7,000 to 8,000 meters, for which it would need some foreign partners with expertise in this area.
Germany's Drescher bank to be in india in 2009
Germany's Drescher bank said that it would be opening branches in India after obtaining the necessary licence in 2009. India being a booming market and high potential for growth cannot be ignored said the chairman Herbert Walter in a statement posted on the web site. The banks parent company allianze has already made its presence in india through Bajaj Allianz Life and Bajaj Allianz General Insurance.
Haryana to strengthen transmission lines
TheUttar Haryana Bijli Vitran Nigam (UHBVN) has drawn a comprehensive investment plan of Rs. 722.74 crore during the current financial year to strengthen the trasmittion and distribution network. The work would be carried out in Panchkula, Ambala, Yamuna Nagar, Kurukshetra, Kaithal, Karnal, Panipat, Sonipat, Rohtak, Jhajjar and Jind and the project cost would include plan expenditure of Rs. 112.85 crore and non-plan expenditure of Rs. 609.89 crore. 33 New 33KV substations would be set up and 290km of new 33KV lines would be laid apart for agumentation of 20 33Kv sub stations.
State run uco bank today approved raising of funds by issuing perpectual non cumilative preference shares. This may come in tranches through public issue or private placement to individuals, companies, state govt, central govt, institutional buyers, financial instutuions and banks.
IMF willing to discuss rising food prices
The International Monetary Fund is willing to be a part of a framework that will address the issue of rising global food prices, a top official of the multilateral lending institution has said. He said the issue of rising global food prices has indeed a negative impact on trade balances and current account. The problem in trade balance means problems in current account and problems in the current account means problems for the IMF. We are going to talk about this tomorrow ... and see what decision can be made... The IMF is totally prepared to be a part of this," Strauss- Kahn said.
RIL in talks with foreign firms to dilute 10% stake in KG Basin D6block
Ril is considering bringing in a strategic partner for deep water exploration in its KG basin D6 Block. The partners could be energy gaints likeExxonMobil, Shell, BP, Total and Petrobras, as these are the companies with required expertise. Goldman Sachs is the key consultant to the deal. RIL is believed to have reached up to 1,500-2,000 meters of drilling so far and there is scope for 7,000 to 8,000 meters, for which it would need some foreign partners with expertise in this area.
Germany's Drescher bank to be in india in 2009
Germany's Drescher bank said that it would be opening branches in India after obtaining the necessary licence in 2009. India being a booming market and high potential for growth cannot be ignored said the chairman Herbert Walter in a statement posted on the web site. The banks parent company allianze has already made its presence in india through Bajaj Allianz Life and Bajaj Allianz General Insurance.
Haryana to strengthen transmission lines
TheUttar Haryana Bijli Vitran Nigam (UHBVN) has drawn a comprehensive investment plan of Rs. 722.74 crore during the current financial year to strengthen the trasmittion and distribution network. The work would be carried out in Panchkula, Ambala, Yamuna Nagar, Kurukshetra, Kaithal, Karnal, Panipat, Sonipat, Rohtak, Jhajjar and Jind and the project cost would include plan expenditure of Rs. 112.85 crore and non-plan expenditure of Rs. 609.89 crore. 33 New 33KV substations would be set up and 290km of new 33KV lines would be laid apart for agumentation of 20 33Kv sub stations.
Tuesday, April 8, 2008
Mutual fund analysis
I am taking up an open ended mutual fund
Kotak opportunities fund (G)
The asset size of this fund is Rs 700 crores as on 31st march 08 and the minimum investment in this fund is Rs 5000.
The fund has generated a negative return during the quarter ended 31st march to the tune of 30%. This is but natural keeping in mind the huge market fall during the same period. The fund generated an annual return of 86% during the year 2007.
Here are the details of the portfolio held as on 31st march 2008
Equity /value( Rs crs) /Quantity %
Relinace industries 30.59 /135,000/ 4.37
larsen and tubro 21.25/ 70,000/ 3.03
Bharti Airtel 19.98/ 241,800/ 2.85
ITC 18.98/ 9,20,000 /2.71
HDFC 4.00 /2.63
Infrastructure Development Finance Company 17.21/ 1140,000 /2.46
Tata Consultancy Services 17.02/ 210,000 /2.43
Aditya Birla Nuvo 16.75/ 120,000/ 2.39
Jindal Steel & Power 16.56/ 80,000/ 2.36
State Bank of India 16.31/ 101,950 /2.33
Welspun Gujarat Stahl Roh 15.33/ 400,000/ 2.19
Crompton Greaves 15.19 /551,619 /2.17
Axis Bank 15.01/ 190,000 /2.14
Tata Chemicals 14.90/ 531,209/ 2.13
Maruti Suzuki India 14.06 /170,000/ 2.01
Ranbaxy Laboratories 14.03 /320,000/ 2.00
Reliance Capital 13.62/ 110,850/ 1.94
Sterlite Industries (India) 13.58 /190,000/ 1.94
United Spirits 13.52/ 90,000 /1.93
ICICI Bank 13.46 /175,000 /1.92
JSW Steel 12.97 /158,258/ 1.85
Punj Lloyd 12.43 /400,000/ 1.77
Infosys Technologies 12.24/ 85,000/ 1.75
IVRCL Infrastructure and Projects 12.17 /300,000/ 1.74
Aban Offshore 12.06 /40,000 /1.72
Steel Authority of India 12.04 /650,000/ 1.72
Glenmark Pharma 11.46/ 234,300/ 1.64
Satyam Computer Services 11.10 /280,000 /1.58
Pantaloon Retail 10.97 /257,068 /1.57
Nagarjuna Construction Co. 10.74/ 500,000/ 1.53
Reliance Communications 10.70/ 210,000 /1.53
Bank Of India 10.70/ 422,500/ 1.53
Hindustan Petroleum Corporation 10.26 /400,000 /1.46
Jaiprakash Associates 9.63/ 425,000/ 1.37
Canara Bank 9.00/ 400,000/ 1.29
Balrampur Chini Mills 8.89 /1100,000 /1.27
Housing Development and Infrastructure 8.87 /135,000 /1.27
Century Textiles and Industries 8.73/ 120,000 /1.25
Patel Engineering Company 8.71 /142,550 /1.24
DLF 8.59/ 133,000/ 1.23
ABG Infralogistics 8.00 /206,381/ 1.14
Godrej Industries 7.63/ 295,000/ 1.09
Lanco Infratech 7.38 /190,000 /1.05
Indiabulls Real Estate 7.32 /150,000 /1.05
GVK Power & Infrastructure 6.89/ 1719,560 /0.98
Television Eighteen 5.79 /146,195 /0.83
Reliance Energy 5.75 /46,000 /0.82
Ballarpur Industries 5.64 /2028,570 /0.81
Hindustan Construction Company 5.56 /420,000 /0.79
Future Capital Holdings 5.12/ 80,000/ 0.73
Mundra Port and Special Economic Zone 3.76/ 65,000 /0.54
Indiabulls Securities 3.03 /115,000 /0.43
Rural Electrification Corporation 2.33 /219,205 /0.33
Adlabs Films 1.84 /30,000/ 0.26
Term deposits /Rs cr/ %
Kotak mahindra bank 8.50 /1.21
Money market instruments
icici bank 12.74/ 1.82
karur vysya bank 4.92/ 0.70
State bank of pataila 14.87 /2.12
indian bank 4.93 /0.70
The portfolio as one can see is an agressive one and has been able to earn a good return in a bull market but this portfolio may not prove to be good one in the current market as there is lack of defensive stocks which can beat the downturn in the market. The portfolio is having a large chunk in the infra sector which would continue to grow over the long term even if we see a lower target of around 7 -8% for the GDP growth. However a heavy exposure to the banking sector is a cause of concern due to the derivatives writedowns expected and a tightning monetory policy by the RBI to contain inflation. Similarly investments in iron and steel are also likely to give negative returns in the near future. If one wants to invest in this mutual fund one should wait for the quarterly numbers and RBI policy and let the NAV adjust itself to their impact. Only then one should consider investing in this fund which i feel would be available at a lower level by the end of this month.
Kotak opportunities fund (G)
The asset size of this fund is Rs 700 crores as on 31st march 08 and the minimum investment in this fund is Rs 5000.
The fund has generated a negative return during the quarter ended 31st march to the tune of 30%. This is but natural keeping in mind the huge market fall during the same period. The fund generated an annual return of 86% during the year 2007.
Here are the details of the portfolio held as on 31st march 2008
Equity /value( Rs crs) /Quantity %
Relinace industries 30.59 /135,000/ 4.37
larsen and tubro 21.25/ 70,000/ 3.03
Bharti Airtel 19.98/ 241,800/ 2.85
ITC 18.98/ 9,20,000 /2.71
HDFC 4.00 /2.63
Infrastructure Development Finance Company 17.21/ 1140,000 /2.46
Tata Consultancy Services 17.02/ 210,000 /2.43
Aditya Birla Nuvo 16.75/ 120,000/ 2.39
Jindal Steel & Power 16.56/ 80,000/ 2.36
State Bank of India 16.31/ 101,950 /2.33
Welspun Gujarat Stahl Roh 15.33/ 400,000/ 2.19
Crompton Greaves 15.19 /551,619 /2.17
Axis Bank 15.01/ 190,000 /2.14
Tata Chemicals 14.90/ 531,209/ 2.13
Maruti Suzuki India 14.06 /170,000/ 2.01
Ranbaxy Laboratories 14.03 /320,000/ 2.00
Reliance Capital 13.62/ 110,850/ 1.94
Sterlite Industries (India) 13.58 /190,000/ 1.94
United Spirits 13.52/ 90,000 /1.93
ICICI Bank 13.46 /175,000 /1.92
JSW Steel 12.97 /158,258/ 1.85
Punj Lloyd 12.43 /400,000/ 1.77
Infosys Technologies 12.24/ 85,000/ 1.75
IVRCL Infrastructure and Projects 12.17 /300,000/ 1.74
Aban Offshore 12.06 /40,000 /1.72
Steel Authority of India 12.04 /650,000/ 1.72
Glenmark Pharma 11.46/ 234,300/ 1.64
Satyam Computer Services 11.10 /280,000 /1.58
Pantaloon Retail 10.97 /257,068 /1.57
Nagarjuna Construction Co. 10.74/ 500,000/ 1.53
Reliance Communications 10.70/ 210,000 /1.53
Bank Of India 10.70/ 422,500/ 1.53
Hindustan Petroleum Corporation 10.26 /400,000 /1.46
Jaiprakash Associates 9.63/ 425,000/ 1.37
Canara Bank 9.00/ 400,000/ 1.29
Balrampur Chini Mills 8.89 /1100,000 /1.27
Housing Development and Infrastructure 8.87 /135,000 /1.27
Century Textiles and Industries 8.73/ 120,000 /1.25
Patel Engineering Company 8.71 /142,550 /1.24
DLF 8.59/ 133,000/ 1.23
ABG Infralogistics 8.00 /206,381/ 1.14
Godrej Industries 7.63/ 295,000/ 1.09
Lanco Infratech 7.38 /190,000 /1.05
Indiabulls Real Estate 7.32 /150,000 /1.05
GVK Power & Infrastructure 6.89/ 1719,560 /0.98
Television Eighteen 5.79 /146,195 /0.83
Reliance Energy 5.75 /46,000 /0.82
Ballarpur Industries 5.64 /2028,570 /0.81
Hindustan Construction Company 5.56 /420,000 /0.79
Future Capital Holdings 5.12/ 80,000/ 0.73
Mundra Port and Special Economic Zone 3.76/ 65,000 /0.54
Indiabulls Securities 3.03 /115,000 /0.43
Rural Electrification Corporation 2.33 /219,205 /0.33
Adlabs Films 1.84 /30,000/ 0.26
Term deposits /Rs cr/ %
Kotak mahindra bank 8.50 /1.21
Money market instruments
icici bank 12.74/ 1.82
karur vysya bank 4.92/ 0.70
State bank of pataila 14.87 /2.12
indian bank 4.93 /0.70
The portfolio as one can see is an agressive one and has been able to earn a good return in a bull market but this portfolio may not prove to be good one in the current market as there is lack of defensive stocks which can beat the downturn in the market. The portfolio is having a large chunk in the infra sector which would continue to grow over the long term even if we see a lower target of around 7 -8% for the GDP growth. However a heavy exposure to the banking sector is a cause of concern due to the derivatives writedowns expected and a tightning monetory policy by the RBI to contain inflation. Similarly investments in iron and steel are also likely to give negative returns in the near future. If one wants to invest in this mutual fund one should wait for the quarterly numbers and RBI policy and let the NAV adjust itself to their impact. Only then one should consider investing in this fund which i feel would be available at a lower level by the end of this month.
Monday, April 7, 2008
Near term view of the market
The market seems to have found some support at last and this is likely to give a trading opportunity. The sebi data reveals that FII's were net buyers to the tune of Rs 1364 crores on friday,april 4. This could be sign of the things to come. The result season is beginning soon and this is likely to affect the market performance to a large extent. The govt seems to be finding some feet as far as inflation is concerned and this is likely to be reflected in the weekly data's to come. One can buy for short term gains in this market keeping in mind ofcourse, the trend in the US market. Any negative sentiment there could play a spoilsport. I would be going in for petronet lng and rpl tommorow morning for trading purpose. I am also considering a strong investment in welspun gujrat keeping in mind that the demand is not likely to dry up as 250 citites would be opened for laying pipeline infrastructure. Moreover, the backward integeration steel plate plant is also likey to add to margins of ths company.
Sunday, April 6, 2008
Sevent hings to remember in a bear run By economic times
The year 2008 has been unkind to investors so far. Many have suffered huge losses. Who knows, there could be more pain ahead. It’s worth reminding ourselves of basic lessons that every retail investor ought to keep in mind to avoid, or at least minimise, losses in one’s portfolio.
1. High rewards don’t come without taking high risk.
During a bull market, retail investors get taken in by the rise in the stock market. They don’t want to be left out. So, they rush in and buy in an indiscriminate way, without realising that they might be taking on too much risk. Remember, if you chase high returns, high risk will follow you. Let’s take the example of publicly-listed real estate sector in India. The industry has a very favourable long-term future. However, the rapid rise in the sector’s stock prices over the past year made a short-term investment in these stocks a risky bet. As it turns out, the risks have been borne out and this sector has collapsed spectacularly. Understand your own risk profile and how you emotionally deal with volatility in stock prices.
2. Understand what you own — don’t always rely on the latest tip or prediction.
If you knew the secret location to some buried treasure, would you share it with others around you? If someone really has a hot tip on an investment that is going to earn high returns, always ask why they are sharing it with you. In today’s wired world, it is possible even for retail investors to understand, even if in basic ways, what is it that you are about to invest in — what does the company do, who its customers are, is the company profitable and so on. You must form your own view about the company’s prospects. Stay away from fast risers. The more you understand investments that you have made, the more confident you will become.
3. Leverage is a double-edged sword that can destroy you in falling markets.
The recent collapse of various hedge funds and banks has shown that living on borrowed money can be dangerous. During good times, leverage can amplify your returns. But in rough times, it can kill you. Currently, even the world’s best risk managers on Wall Street are having a tough time dealing with their leveraged exposure to markets. Be careful about making investments using leverage. Remember, nobody is going to flash an emergency light announcing the arrival of the next crisis.
4. You dont always need to be fully invested
This is where the professionals really distinguish themselves from amateur retail investors, because they keep some cash available to take advantage of falling prices. Professionals think of a correction in stock prices as a sale in stocks. But to benefit from these sales, they keep some cash ready. They don’t feel the need to be fully invested all the time. If you use up all your cash to make your investments, you will never be able to take advantage of the cut price sales that will happen in times of severe correction like now. Corrections occur periodically — be prepared to take advantage of these situations.
5. Build portfolio on a strong foundation.
Just like you cannot build a house on a weak foundation, your stock portfolio also needs to be built on the back of strong companies and predictable stability. The more junk you have and poor quality stocks you own, the quicker your portfolio will also collapse during a correction. Weak companies with unfavourable long-term business prospects, weak balance sheets and poor operating performance might look tempting as they promise short-term growth. They may go up faster than the market in a bull phase, but come racing down at the slightest evidence of any stock market trouble.Build your portfolio on the back of stable, blue-chip companies that have long track records of success across economic conditions.
6. Keep a wishlist of companies.
Smart investors keep a wishlist of companies whose shares they want to buy when the opportunity and price are right. Corrections will give you the opportunity to pick through names. But, like we said in point 4 above, you need to have some dry powder to be able to add your wishlist to your portfolio. Warren Buffett has been known to keep his eye on his wishlist companies for decades before he finally finds a good entry point for an investment.
7. Invest for the long-term.
Serious investors put money to work for the long-term. They don’t get distracted by seasonal or cyclical fads, or get caught up in short-term performance. Don’t day trade, and especially not on margin. For every day trader who wins, there is another trader on the other side of the trade who has lost. In this speculative game, its likely that you will on average have as many bad days as good days. If you invest for the long-term, you will be less affected by all the noise in the market that will clutter your thinking and cause you to make impulsive and short-sighted decisions. You will also avoid the tax liability associated with short-term trading that can add more complexity to your finances. It is never too late for serious investors who want to build long-term wealth to learn and apply the above lessons. With a little bit of discipline, your portfolio too can survive any stock market correction and achieve excellent long-term performance. (The authors are graduates of the Harvard Business School and co-founders of www.iTrust.in, a financial advisory business.)
1. High rewards don’t come without taking high risk.
During a bull market, retail investors get taken in by the rise in the stock market. They don’t want to be left out. So, they rush in and buy in an indiscriminate way, without realising that they might be taking on too much risk. Remember, if you chase high returns, high risk will follow you. Let’s take the example of publicly-listed real estate sector in India. The industry has a very favourable long-term future. However, the rapid rise in the sector’s stock prices over the past year made a short-term investment in these stocks a risky bet. As it turns out, the risks have been borne out and this sector has collapsed spectacularly. Understand your own risk profile and how you emotionally deal with volatility in stock prices.
2. Understand what you own — don’t always rely on the latest tip or prediction.
If you knew the secret location to some buried treasure, would you share it with others around you? If someone really has a hot tip on an investment that is going to earn high returns, always ask why they are sharing it with you. In today’s wired world, it is possible even for retail investors to understand, even if in basic ways, what is it that you are about to invest in — what does the company do, who its customers are, is the company profitable and so on. You must form your own view about the company’s prospects. Stay away from fast risers. The more you understand investments that you have made, the more confident you will become.
3. Leverage is a double-edged sword that can destroy you in falling markets.
The recent collapse of various hedge funds and banks has shown that living on borrowed money can be dangerous. During good times, leverage can amplify your returns. But in rough times, it can kill you. Currently, even the world’s best risk managers on Wall Street are having a tough time dealing with their leveraged exposure to markets. Be careful about making investments using leverage. Remember, nobody is going to flash an emergency light announcing the arrival of the next crisis.
4. You dont always need to be fully invested
This is where the professionals really distinguish themselves from amateur retail investors, because they keep some cash available to take advantage of falling prices. Professionals think of a correction in stock prices as a sale in stocks. But to benefit from these sales, they keep some cash ready. They don’t feel the need to be fully invested all the time. If you use up all your cash to make your investments, you will never be able to take advantage of the cut price sales that will happen in times of severe correction like now. Corrections occur periodically — be prepared to take advantage of these situations.
5. Build portfolio on a strong foundation.
Just like you cannot build a house on a weak foundation, your stock portfolio also needs to be built on the back of strong companies and predictable stability. The more junk you have and poor quality stocks you own, the quicker your portfolio will also collapse during a correction. Weak companies with unfavourable long-term business prospects, weak balance sheets and poor operating performance might look tempting as they promise short-term growth. They may go up faster than the market in a bull phase, but come racing down at the slightest evidence of any stock market trouble.Build your portfolio on the back of stable, blue-chip companies that have long track records of success across economic conditions.
6. Keep a wishlist of companies.
Smart investors keep a wishlist of companies whose shares they want to buy when the opportunity and price are right. Corrections will give you the opportunity to pick through names. But, like we said in point 4 above, you need to have some dry powder to be able to add your wishlist to your portfolio. Warren Buffett has been known to keep his eye on his wishlist companies for decades before he finally finds a good entry point for an investment.
7. Invest for the long-term.
Serious investors put money to work for the long-term. They don’t get distracted by seasonal or cyclical fads, or get caught up in short-term performance. Don’t day trade, and especially not on margin. For every day trader who wins, there is another trader on the other side of the trade who has lost. In this speculative game, its likely that you will on average have as many bad days as good days. If you invest for the long-term, you will be less affected by all the noise in the market that will clutter your thinking and cause you to make impulsive and short-sighted decisions. You will also avoid the tax liability associated with short-term trading that can add more complexity to your finances. It is never too late for serious investors who want to build long-term wealth to learn and apply the above lessons. With a little bit of discipline, your portfolio too can survive any stock market correction and achieve excellent long-term performance. (The authors are graduates of the Harvard Business School and co-founders of www.iTrust.in, a financial advisory business.)
Saturday, April 5, 2008
Inflation a haunting issue
Inflation which has touched at an all time high of 7% this year is not likely to cool down easily.
Domestic tyres prices are set to go up across all categories in April.
Prices are likely to increase by 5% across all categories from the mid of april. Prices of raw materials used in the manufacture of tyres have increased significantly and the cost needs to be passed on to the buyers.
Tyres made in India have a ratio of natural rubber (40 per cent) and petroleum derivatives (60 per cent). Between the last quarter of 2007 and the first quarter of 2008, average prices of natural rubber rose by 4 per cent, while synthetic rubber moved up by 18 per cent.
Prices of chemicals and carbon black hardened by 16 per cent and 11 per cent, respectively. The highest price increase was witnessed in butyl rubber at 33 per cent.
On an average, prices of raw materials have appreciated between 12-15 per cent during the first quarter of 2008
Tea prices expected to remain firm thorughout the year
The tea industry has begun the year with lower stocks and a higher demand. The shortfall in the crop and a heigher domestic demand is likely to lead to better realisations. The industry claims that the manufacting cost too is on a rise on account heigher labour cost and social costs. Fertilisers too have become costlier to the tune of 30%
Loss in the wheat output in the northern region
The north western belt is facing untimely rainfall, hailstorms and strong winds at a time when the wheat crop was just ready for harvest. There has been widespread damage to the crops in states of Punjab, Haryana and Rajisthan and this is likely to have a negative effect on the buffer which the govt was planning to create and there is likely of a shorfall in production and at the same time the quality of the output is likely to be effected too.
Domestic tyres prices are set to go up across all categories in April.
Prices are likely to increase by 5% across all categories from the mid of april. Prices of raw materials used in the manufacture of tyres have increased significantly and the cost needs to be passed on to the buyers.
Tyres made in India have a ratio of natural rubber (40 per cent) and petroleum derivatives (60 per cent). Between the last quarter of 2007 and the first quarter of 2008, average prices of natural rubber rose by 4 per cent, while synthetic rubber moved up by 18 per cent.
Prices of chemicals and carbon black hardened by 16 per cent and 11 per cent, respectively. The highest price increase was witnessed in butyl rubber at 33 per cent.
On an average, prices of raw materials have appreciated between 12-15 per cent during the first quarter of 2008
Tea prices expected to remain firm thorughout the year
The tea industry has begun the year with lower stocks and a higher demand. The shortfall in the crop and a heigher domestic demand is likely to lead to better realisations. The industry claims that the manufacting cost too is on a rise on account heigher labour cost and social costs. Fertilisers too have become costlier to the tune of 30%
Loss in the wheat output in the northern region
The north western belt is facing untimely rainfall, hailstorms and strong winds at a time when the wheat crop was just ready for harvest. There has been widespread damage to the crops in states of Punjab, Haryana and Rajisthan and this is likely to have a negative effect on the buffer which the govt was planning to create and there is likely of a shorfall in production and at the same time the quality of the output is likely to be effected too.
Friday, April 4, 2008
Welspun Gujarat Stahl Rohren ltd
Establised in 1995 it belongs to US$1 billion Welspun group. It has grown leaps and bounds over the past 10 years from Rs 18.7 crs to Rs 2678.5 crs.
It's expertise in the manufacturing of pipe sector is the parameter to prove its capabilities There are only a handful of players who can compete with the range of pipes (starting with diameter as small as 1 inch and as large as 100 inch), maintain the quality and technology that WGSRL produce.
The following manufacturing facilities are available
At anjar
L-saw mill, spiral mill, HFERW pipes, coating mill and bending mill
At Dahej
L-saw mill, spiral mill, coating mill
Size range: 18” – 100” inch
It has accreditions from every major OIl and gas company across the world like BP, Reliance, Shell, Total,Gail, Gazprom.
With the govt now allowing city pipe networking and already companies showing tremendous interest in this project there seems to be a robust demand for the company products over the years to come from india itself
It's expertise in the manufacturing of pipe sector is the parameter to prove its capabilities There are only a handful of players who can compete with the range of pipes (starting with diameter as small as 1 inch and as large as 100 inch), maintain the quality and technology that WGSRL produce.
The following manufacturing facilities are available
At anjar
L-saw mill, spiral mill, HFERW pipes, coating mill and bending mill
At Dahej
L-saw mill, spiral mill, coating mill
Size range: 18” – 100” inch
It has accreditions from every major OIl and gas company across the world like BP, Reliance, Shell, Total,Gail, Gazprom.
With the govt now allowing city pipe networking and already companies showing tremendous interest in this project there seems to be a robust demand for the company products over the years to come from india itself
It has now commenced production in its 1.5 million tonne state-of-the-art Plate mill - one of the only three mills of its kind in the World as of March 28, 2008. Part of the backward integration project of Welspun, the mill has the capacity to produce plates up to 4.5 meters wide and is a set to make a mark in the Company's operational capabilities.
The company reported a tournover of Rs 1036 cr and a profit of Rs 97.4 cr for the quarter ending dec 07. The stock is trading at around Rs 370 and comanding a P/e of 22. With new capacity now in full operation the stock is likely to do well and give good returns in the near term.
Top news for today
Nitin fire protection buys 40% stake in dubai co by business standard
Nitin Fire Protection Industries has acquired 40 per cent stake in a Dubai based fire protection company New Age Company LLC. New Age Co is engaged in manufacture and installation of fire protection and detection systems, emergency lighting system, water mist fire protection system and the entire activity includes supply and installation, testing and commissioning of equipment system and maintenance, said the release. For the year ending 2007-08, Nitin Fire had net sales of Rs 44 crore.The company did not disclose the deal size.
Govt withdraws export sops on basmati Business standard
With inflation for the week ended March 22 hitting a 3-year high of 7 per cent, the government, in an effort to control inflation, today stopped export sops on basmati rice.
"Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice.
The government has already banned export of non-basmati rice and raised the minimum export price for basmati rice.
Jubilant acquires DRAXIS for $225mn business standard
Leading contract drug maker Jubilant Organosys today announced the acquisition of Canadian speciality drug company DRAXIS Health for $255 million (around Rs 1020 crore).
The board of DRAXIS has given its unanimous approval and the transaction is expected to close in the second quarter of 2008 after the necessary shareholder and court approvals.
This is Jubilant’s second major acquisition in North America, after it bought the US injectable maker Hollister for $122 million in April 2007.
The DRAXIS acquisition will help Jubilant expand its contract manufacturing business in the regulated, high-growth and high-margin area of radiopharmaceuticals and injectables.
With this acquisition, Jubilant will be among the leading providers of contract manufacturing of small volume parenterals to large pharmaceuticals and biotech companies in North America. DRAXIS has an excellent regulatory track record, with its management and employees having a wealth of experience and expertise in radiopharmaceuticals and contract manufacturing.Jubilant has diversified its manufacturing facilities across eight locations world-wide: Gajraula (UP), Nanjangud (Karnataka), Roorkee (Uttarakhand), Nira (Maharashtra), Udaipur (Rajasthan), Samlaya (Gujrat), Salisbury in Maryland (USA) and Spokane in Washington (USA).
Nitin Fire Protection Industries has acquired 40 per cent stake in a Dubai based fire protection company New Age Company LLC. New Age Co is engaged in manufacture and installation of fire protection and detection systems, emergency lighting system, water mist fire protection system and the entire activity includes supply and installation, testing and commissioning of equipment system and maintenance, said the release. For the year ending 2007-08, Nitin Fire had net sales of Rs 44 crore.The company did not disclose the deal size.
Govt withdraws export sops on basmati Business standard
With inflation for the week ended March 22 hitting a 3-year high of 7 per cent, the government, in an effort to control inflation, today stopped export sops on basmati rice.
"Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice.
The government has already banned export of non-basmati rice and raised the minimum export price for basmati rice.
Jubilant acquires DRAXIS for $225mn business standard
Leading contract drug maker Jubilant Organosys today announced the acquisition of Canadian speciality drug company DRAXIS Health for $255 million (around Rs 1020 crore).
The board of DRAXIS has given its unanimous approval and the transaction is expected to close in the second quarter of 2008 after the necessary shareholder and court approvals.
This is Jubilant’s second major acquisition in North America, after it bought the US injectable maker Hollister for $122 million in April 2007.
The DRAXIS acquisition will help Jubilant expand its contract manufacturing business in the regulated, high-growth and high-margin area of radiopharmaceuticals and injectables.
With this acquisition, Jubilant will be among the leading providers of contract manufacturing of small volume parenterals to large pharmaceuticals and biotech companies in North America. DRAXIS has an excellent regulatory track record, with its management and employees having a wealth of experience and expertise in radiopharmaceuticals and contract manufacturing.Jubilant has diversified its manufacturing facilities across eight locations world-wide: Gajraula (UP), Nanjangud (Karnataka), Roorkee (Uttarakhand), Nira (Maharashtra), Udaipur (Rajasthan), Samlaya (Gujrat), Salisbury in Maryland (USA) and Spokane in Washington (USA).
Thursday, April 3, 2008
todays top news
Leading steel firms to cut prices: govt By economic times
India's large steel firms have agreed to roll back prices of long steel products, Steel Secretary R S Pandey told reporters after a meeting with big producers including Tata Steel and Steel Authority of India Ltd. The prices would be lowered by Rs 2,000 per tonne. Steel prices have shot up by 33 percent in the last eight weeks. India exports 4-5 million tonnes of steel annually and another 2 million tonnes of galvanised sheets and cold-rolled coils are exported.
Telekom Malaysia itching for more of spice By business standard
Telekom Malaysia might partner with strategic investors to increase their combined stake in Spice Communications to 74 per cent.
The Malaysian giant has 39.20 per cent equity in the telecom company and foreign institutional investors hold 9.59 per cent, taking the total foreign holding to 48.79 per cent.
The potential partners include United Arab Emirates’s largest telecom company, Emirates Telecommunications Corp.
Spices presence currently
Karnatka
Number of subscribers 15,86,031
Share of the market 12.44%
Punjab
Number of subscribers 24,98,174
Share of the market 27.46%
It has received licence to operate in four more circles Andhra pardesh, delhi, haryana and maharashtra and is awaiting additional spectrum.
Fed to report value of Bear stearns portfolio
Federal Reserve Bank of New York said on Thursday it would report on a quarterly basis the value of the assets held as collateral for a $29 billion credit line to JPMorgan Chase & Co as part of its deal to buy Bear Stearns Cos. Bear Stearns said the assets were worth $30 billion based on market values on March 14. "We will report the valuation and recoveries from liquidation of the portfolio on a quarterly basis, subject to annual review by our outside auditors Deloitte Touche Tohmatsu," the Fed said in an annex to congressional testimony by New York Fed President Timothy Geithner. Based on generally accepted accounting principles, the Fed would be required to report the portfolio's value on an annual basis.
India's large steel firms have agreed to roll back prices of long steel products, Steel Secretary R S Pandey told reporters after a meeting with big producers including Tata Steel and Steel Authority of India Ltd. The prices would be lowered by Rs 2,000 per tonne. Steel prices have shot up by 33 percent in the last eight weeks. India exports 4-5 million tonnes of steel annually and another 2 million tonnes of galvanised sheets and cold-rolled coils are exported.
Telekom Malaysia itching for more of spice By business standard
Telekom Malaysia might partner with strategic investors to increase their combined stake in Spice Communications to 74 per cent.
The Malaysian giant has 39.20 per cent equity in the telecom company and foreign institutional investors hold 9.59 per cent, taking the total foreign holding to 48.79 per cent.
The potential partners include United Arab Emirates’s largest telecom company, Emirates Telecommunications Corp.
Spices presence currently
Karnatka
Number of subscribers 15,86,031
Share of the market 12.44%
Punjab
Number of subscribers 24,98,174
Share of the market 27.46%
It has received licence to operate in four more circles Andhra pardesh, delhi, haryana and maharashtra and is awaiting additional spectrum.
Fed to report value of Bear stearns portfolio
Federal Reserve Bank of New York said on Thursday it would report on a quarterly basis the value of the assets held as collateral for a $29 billion credit line to JPMorgan Chase & Co as part of its deal to buy Bear Stearns Cos. Bear Stearns said the assets were worth $30 billion based on market values on March 14. "We will report the valuation and recoveries from liquidation of the portfolio on a quarterly basis, subject to annual review by our outside auditors Deloitte Touche Tohmatsu," the Fed said in an annex to congressional testimony by New York Fed President Timothy Geithner. Based on generally accepted accounting principles, the Fed would be required to report the portfolio's value on an annual basis.
Sotcks to invest
LARSEN & TOUBRO LTD
Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company.&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its overseas manufacturing footprint, with facilities in China and the Gulf region.
Operating Divisions: Engineering & Construction Projects (E&C) L&T offers design, engineering, project management, procurement, construction and commissioning services to the hydro carbon industry, notably the oil & gas upstream, oil & gas mid and downstream (Refinery, Petrochemicals, Fertilizer, Chemical projects and unit systems).
Power Business Sector consists of the following : Utility & Cogeneration & Captive Power Plants (Cogen & Captive Power).
Nuclear power Thermal Power Plant ConstructionCement and allied machinery
Complete range - from crushing to packing plants covering equipments such as Crusher & Material Handling equipments, vertical roller mills for raw materials & cement grinding, fuel efficient kiln & cooler systems, energy efficient milling systems, modern calcination systems for low reactive coal & low Nox, homogenization and separator for plant capacity from 1,000 TPD to 10,000 TPD
Engineering Construction & Contracts (ECC) Developmental Projects L&T handles projects to be executed on principles of public-private partnerships and implement infrastructure development projects like roads, bridges, power projects, ports, water supply projects, residential / commercial complexes, airports, IT parts and exhibition centres Electrical Products Switchgear Products Electrical Systems Metering Solutions & Relays Medical Equipment & Systems Control & Automation Petroleum Dispensers & Systems Machinery & Industrial Products (MIPD) Information Technology & Engineering Services
Some achievements of the company are as follows
World's largest Tubular Reactor for a petrochemical plant
The world's largest Continuous Catalyst Reactor
The world's largest Fluid Catalytic Cracking Regenerator
The world's longest Product Splitter
The world's longest LPG pipeline
Asia's highest Viaduct The first to offer electrical distribution products & systems engineered for tropical environments
India's first indigenous Hydrocracker Reactor
India's first open sea jetty
India's biggest Offshore Oil Platform India's longest Coal Conveyor
India's widest range of Low Tension Electrical Switchgear
For the period ended dec 07 the company achived a turnover of Rs6382 crores with a profit of 481 crores translating in to an eps of Rs 16.66. The company's order book stands at more than Rs50000 crores now and is still adding on. The share is trading at a p/e ratio of 48which is very reasonable given the heavy orderbook it holds.Plan your investment in this stock in tranches. I mean stager your investments over a period of time and invest at major downturns in the market as the market is not in a hurry to revert back to new highs
Larsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company.&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its overseas manufacturing footprint, with facilities in China and the Gulf region.
Operating Divisions: Engineering & Construction Projects (E&C) L&T offers design, engineering, project management, procurement, construction and commissioning services to the hydro carbon industry, notably the oil & gas upstream, oil & gas mid and downstream (Refinery, Petrochemicals, Fertilizer, Chemical projects and unit systems).
Power Business Sector consists of the following : Utility & Cogeneration & Captive Power Plants (Cogen & Captive Power).
Nuclear power Thermal Power Plant ConstructionCement and allied machinery
Complete range - from crushing to packing plants covering equipments such as Crusher & Material Handling equipments, vertical roller mills for raw materials & cement grinding, fuel efficient kiln & cooler systems, energy efficient milling systems, modern calcination systems for low reactive coal & low Nox, homogenization and separator for plant capacity from 1,000 TPD to 10,000 TPD
Engineering Construction & Contracts (ECC) Developmental Projects L&T handles projects to be executed on principles of public-private partnerships and implement infrastructure development projects like roads, bridges, power projects, ports, water supply projects, residential / commercial complexes, airports, IT parts and exhibition centres Electrical Products Switchgear Products Electrical Systems Metering Solutions & Relays Medical Equipment & Systems Control & Automation Petroleum Dispensers & Systems Machinery & Industrial Products (MIPD) Information Technology & Engineering Services
Some achievements of the company are as follows
World's largest Tubular Reactor for a petrochemical plant
The world's largest Continuous Catalyst Reactor
The world's largest Fluid Catalytic Cracking Regenerator
The world's longest Product Splitter
The world's longest LPG pipeline
Asia's highest Viaduct The first to offer electrical distribution products & systems engineered for tropical environments
India's first indigenous Hydrocracker Reactor
India's first open sea jetty
India's biggest Offshore Oil Platform India's longest Coal Conveyor
India's widest range of Low Tension Electrical Switchgear
For the period ended dec 07 the company achived a turnover of Rs6382 crores with a profit of 481 crores translating in to an eps of Rs 16.66. The company's order book stands at more than Rs50000 crores now and is still adding on. The share is trading at a p/e ratio of 48which is very reasonable given the heavy orderbook it holds.Plan your investment in this stock in tranches. I mean stager your investments over a period of time and invest at major downturns in the market as the market is not in a hurry to revert back to new highs
Wednesday, April 2, 2008
News on the roll
US ecomomy could contract in H1 FY 08: Fed by business standard
The us economy could contract in the first half of the year and could then pick up significantly due to aggressive interest rate cuts which would stimulate growth and housing market woes recedes. It now seems that the real GDP might not grow and could contract during the first half of the FY 08 fed chairman Ben Bernanke said
Steel industry suggests three measues to cut inflation
The steel industry has put forth suggestions to prices. Mr Sajjan jindal VC and MD JSW steel said that the industry has given suggestions to cut prices.
An excise duty cut from 14 per cent to six per cent could bring down the steel prices by eight per cent, a 25 per cent export duty on iron ore would impact the prices by five per cent and the withdrawal of import duty on input materials such as coke, limestone, ferro alloys, aluminium and copper would drag the prices by two per cent
Abhishek industries
Abhishek Industries Ltd has informed BSE that the Company has commissioned 20 MW Captive Power Plant with effect from March 29, 2008. This new commissioned Captive Power Plant shall meet the power requirement of the Paper Business of the Company. Consequent to commissioning of this plant, the total captive power capacity of the Company has become 50 MW
Welspun gujarat announces commencement of world class plate plant Bse announcements
Welspun Gujarat Stahl Rohren Ltd takes pride in announcing the commencement of its 1.5 million tonne state-of-the-art Plate mill - one of the only three mills of its kind in the World as of March 28, 2008. Part of the backward integration project of Welspun, the mill has the capacity to produce plates up to 4.5 meters wide and is a set to make a mark in the Company's operational capabilities. It may be noted that the trial production of the mill was commenced in September 07 and since then Welspun has been able to make the most challenging plates involving sizes up to 4.5 meter wide and steel grade of X 70 API Grade.Speaking on the commercial commencement, Mr. B K Goenka, VC and MD of Welspun Group said, "I along with my colleagues take pride in this historic moment of commencement of this one-of-its-kind plate mill in India. We believe that this mill will not on prove the "Engineering Excellence" that Welspun portrays, but also strengthen its position globally", he adds.The availability of in-house Plates will provide more flexibility in marketing the products besides assuring quality and delivery on time to the valued customers. It will additionally improve Welspun's internal flexibility to book short gestation orders besides adding to the Company's turnover and profitability.
The state-of-art equipments used in the mill are largely European and have the ability to achieve most stringent quality specifications and size requirements as mentioned below:
Width: 1500 MM -4500 MM
Thickness: 10 MM -45 MM (API Grades)
Length: Upto 18 Mtrs
Grade: X70 & aboveCapacity: 1,500,000 MTPA
The us economy could contract in the first half of the year and could then pick up significantly due to aggressive interest rate cuts which would stimulate growth and housing market woes recedes. It now seems that the real GDP might not grow and could contract during the first half of the FY 08 fed chairman Ben Bernanke said
Steel industry suggests three measues to cut inflation
The steel industry has put forth suggestions to prices. Mr Sajjan jindal VC and MD JSW steel said that the industry has given suggestions to cut prices.
An excise duty cut from 14 per cent to six per cent could bring down the steel prices by eight per cent, a 25 per cent export duty on iron ore would impact the prices by five per cent and the withdrawal of import duty on input materials such as coke, limestone, ferro alloys, aluminium and copper would drag the prices by two per cent
Abhishek industries
Abhishek Industries Ltd has informed BSE that the Company has commissioned 20 MW Captive Power Plant with effect from March 29, 2008. This new commissioned Captive Power Plant shall meet the power requirement of the Paper Business of the Company. Consequent to commissioning of this plant, the total captive power capacity of the Company has become 50 MW
Welspun gujarat announces commencement of world class plate plant Bse announcements
Welspun Gujarat Stahl Rohren Ltd takes pride in announcing the commencement of its 1.5 million tonne state-of-the-art Plate mill - one of the only three mills of its kind in the World as of March 28, 2008. Part of the backward integration project of Welspun, the mill has the capacity to produce plates up to 4.5 meters wide and is a set to make a mark in the Company's operational capabilities. It may be noted that the trial production of the mill was commenced in September 07 and since then Welspun has been able to make the most challenging plates involving sizes up to 4.5 meter wide and steel grade of X 70 API Grade.Speaking on the commercial commencement, Mr. B K Goenka, VC and MD of Welspun Group said, "I along with my colleagues take pride in this historic moment of commencement of this one-of-its-kind plate mill in India. We believe that this mill will not on prove the "Engineering Excellence" that Welspun portrays, but also strengthen its position globally", he adds.The availability of in-house Plates will provide more flexibility in marketing the products besides assuring quality and delivery on time to the valued customers. It will additionally improve Welspun's internal flexibility to book short gestation orders besides adding to the Company's turnover and profitability.
The state-of-art equipments used in the mill are largely European and have the ability to achieve most stringent quality specifications and size requirements as mentioned below:
Width: 1500 MM -4500 MM
Thickness: 10 MM -45 MM (API Grades)
Length: Upto 18 Mtrs
Grade: X70 & aboveCapacity: 1,500,000 MTPA
stock to invest
WS INDUSTRIES
This company is mainly into manufacture of electrical insulators. This chennai based company has seen good activity in the last two years. WSI created additional capacity for the production fo sub-station porcelains and upgraded some de-bottlenecking and handing equipment.It also entered in to a strategic alliance for technology and marketing with US based PPC insulators which is the second largest insulator producer of the world. IT is establising a Rs100crore green field project for the manufacture of hollow and solid core insulators.
Its product range now includesSuspention insulators of normal,fog and aerofil types.Pin insulators from 11kv to 44kv.Solidcore insulators from 11kv to 420kv.Hollow porcelain insulators for various applications ranging from transformer bushings to SF6 breakers from voltage range from 11kv to 500kv.Transmition line hardware up to 220kv.Isolators up to 220kv.
With a large amount of power projects in line the demand for insulators is expected to be robust and the company is expected to perform exceeedingly well.
Power grid is one of the major coustomers of the company.Exports form about 30% of the turnover.
For the quarter ending dec 07 the company reported a turnover of 56 crores and a net profit of 3.5 crores on an equity base of 21.1 crores resulting in an eps of rs 1.66The current market price is around Rs 75and the share needs to be kept in mind for future investment decisions
This company is mainly into manufacture of electrical insulators. This chennai based company has seen good activity in the last two years. WSI created additional capacity for the production fo sub-station porcelains and upgraded some de-bottlenecking and handing equipment.It also entered in to a strategic alliance for technology and marketing with US based PPC insulators which is the second largest insulator producer of the world. IT is establising a Rs100crore green field project for the manufacture of hollow and solid core insulators.
Its product range now includesSuspention insulators of normal,fog and aerofil types.Pin insulators from 11kv to 44kv.Solidcore insulators from 11kv to 420kv.Hollow porcelain insulators for various applications ranging from transformer bushings to SF6 breakers from voltage range from 11kv to 500kv.Transmition line hardware up to 220kv.Isolators up to 220kv.
With a large amount of power projects in line the demand for insulators is expected to be robust and the company is expected to perform exceeedingly well.
Power grid is one of the major coustomers of the company.Exports form about 30% of the turnover.
For the quarter ending dec 07 the company reported a turnover of 56 crores and a net profit of 3.5 crores on an equity base of 21.1 crores resulting in an eps of rs 1.66The current market price is around Rs 75and the share needs to be kept in mind for future investment decisions
Tuesday, April 1, 2008
Todays top stories
Titagarh fixes price at Rs 540. Business standard
Titagarh wagons has fixed the ipo price at the lower end of the price band of Rs 540 to 610. It had come with an offering of 23,83,786 shares . It is a private railway wagon manufacturer and has facilities at titagarh and uttarpara in west bengal.
RBI may raise CRR next month. economic times
The reserve bank of india is likely to tighten the money supply in its annual credit policy on april 29 to rein in inflation however this is not likely to push up interest rates as there is ample liqudity in the system. With inflation at a years high of 6.68% the hike could be at 50 basic point s if inflation continues to soar..
Norms finalized for city gas projects. Business standard
Petroleum and natural gas regualatory board has notified the regualtions for distribution of gas to households,vehicles and industries in cities across the country. The authorization would be through a competitive bidding process. The project would be awarded on the basis of networking tarrif, gas compression charges, length of pipeline proposed and the households to be covered in the city. More than 100 companies both foreign and national have shown interest in supplying gas in over 250 cities.
The regualtion gives a five year exclusive marketing contract to the company setting the pipeline network in the city. After five years other companies can market gas but by using the existing network for which it would need to pay a fee to the orignal operator.
DOT issues norms for active infra sharing Business standard
Department of Telecommunications (DoT) has issued guidelines for active infrastructure sharing - a move that will help in lowering telecom operators' infrastructure costs and increasing teledensity in the country. However sharing of spectrum wont be allowed. Active sharing would be limited to antennae, feed cable, radio acess network and transmission system only.
Titagarh wagons has fixed the ipo price at the lower end of the price band of Rs 540 to 610. It had come with an offering of 23,83,786 shares . It is a private railway wagon manufacturer and has facilities at titagarh and uttarpara in west bengal.
RBI may raise CRR next month. economic times
The reserve bank of india is likely to tighten the money supply in its annual credit policy on april 29 to rein in inflation however this is not likely to push up interest rates as there is ample liqudity in the system. With inflation at a years high of 6.68% the hike could be at 50 basic point s if inflation continues to soar..
Norms finalized for city gas projects. Business standard
Petroleum and natural gas regualatory board has notified the regualtions for distribution of gas to households,vehicles and industries in cities across the country. The authorization would be through a competitive bidding process. The project would be awarded on the basis of networking tarrif, gas compression charges, length of pipeline proposed and the households to be covered in the city. More than 100 companies both foreign and national have shown interest in supplying gas in over 250 cities.
The regualtion gives a five year exclusive marketing contract to the company setting the pipeline network in the city. After five years other companies can market gas but by using the existing network for which it would need to pay a fee to the orignal operator.
DOT issues norms for active infra sharing Business standard
Department of Telecommunications (DoT) has issued guidelines for active infrastructure sharing - a move that will help in lowering telecom operators' infrastructure costs and increasing teledensity in the country. However sharing of spectrum wont be allowed. Active sharing would be limited to antennae, feed cable, radio acess network and transmission system only.
Stock tips
MYSORE CEMENT
Mysore cement is a subsidary of cementrum i which is inturn controllled by HeidelbergCement AG. Heidelberg is one of the leading producer of building material world wide. The company has turned around and has posted an eps of more than six ruppess for the year ended dec,07. The company having plants in karnatka, madhya pardesh and uttar pardesh. The company is currently engaged in the manafacture of clinker and cement.the Company has submitted applications to the Ministry of Environment and Forests, Govt. of India, New Delhi together with the Pre-feasibility Reports for getting the prior environmental clearance from the Government for the expansion of capacity at its existing plants as detailed below:
1. Expansion of Clinkerisation capacity front 1.2 MTPA to 3.1 MTPA at Narsingarh, District Damoh, Madhya Pradesh.
2. Expansion of the Cement Grinding capacity from 0.8 MTPA to 2.7 MTPA at Madora, District Jhansi, Uttar Pradesh.
3. Expansion of the Cement Grinding capacity from 1.0 MTPA to 2.0 MTPA at Imlai, District Damoh, Madhya Pradesh.
4. Expansion of the Cement manufacturing capacity from 0.4 MTPA to 1.2 MTPA at Ammasandra, District Tumkur, karnatka.
With this expansion the company is surely going to add to its topline and bottom line and is currently available at a p/e of just around 6. This seems to an excellent long term bet for all those who which to enter this sector for investments
Mysore cement is a subsidary of cementrum i which is inturn controllled by HeidelbergCement AG. Heidelberg is one of the leading producer of building material world wide. The company has turned around and has posted an eps of more than six ruppess for the year ended dec,07. The company having plants in karnatka, madhya pardesh and uttar pardesh. The company is currently engaged in the manafacture of clinker and cement.the Company has submitted applications to the Ministry of Environment and Forests, Govt. of India, New Delhi together with the Pre-feasibility Reports for getting the prior environmental clearance from the Government for the expansion of capacity at its existing plants as detailed below:
1. Expansion of Clinkerisation capacity front 1.2 MTPA to 3.1 MTPA at Narsingarh, District Damoh, Madhya Pradesh.
2. Expansion of the Cement Grinding capacity from 0.8 MTPA to 2.7 MTPA at Madora, District Jhansi, Uttar Pradesh.
3. Expansion of the Cement Grinding capacity from 1.0 MTPA to 2.0 MTPA at Imlai, District Damoh, Madhya Pradesh.
4. Expansion of the Cement manufacturing capacity from 0.4 MTPA to 1.2 MTPA at Ammasandra, District Tumkur, karnatka.
With this expansion the company is surely going to add to its topline and bottom line and is currently available at a p/e of just around 6. This seems to an excellent long term bet for all those who which to enter this sector for investments
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