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Coal India gains after decent production figures
Oct 03,2016

The announcement was made on Saturday, 1 October 2016.

Meanwhile, the BSE Sensex was up 377.58 points, or 1.35%, to 28,243.54

On BSE, so far 1.69 lakh shares were traded in the counter, compared with average daily volume of 3.95 lakh shares in the past one quarter. The stock hit a high of Rs 328.80 and a low of Rs 322.15 so far during the day. The stock hit a 52-week high of Rs 349.85 on 17 August 2016. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had underperformed the market over the past 30 days till 30 September 2016, sliding 4.59% compared with 1.96% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.01% as against Sensexs 2.66% rise.

The large-cap company has equity capital of Rs 6,316.36 crore. Face value per share is Rs 10.

Coal India and its subsidiaries achieved 88% of targeted offtake at 37.74 million tonnes in September 2016.

Coal Indias consolidated net profit fell 14.78% to Rs 3065.28 crore on 6.12% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 June 2016).

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Kotak Mahindra Bank inches up after acquiring BSS Microfinance
Oct 03,2016

The announcement was made after market hours on Friday, 30 September 2016.

Meanwhile, the S&P BSE Sensex was up 384.46 points or 1.38% at 28,250.42.

On BSE, so far 1.01 lakh shares were traded in the counter as against average daily volume of 1.59 lakh shares in the past one quarter. The stock hit a high of Rs 793.20 and a low of Rs 784 so far during the day. The stock had hit a record high of Rs 825.60 on 9 September 2016. The stock had hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had outperformed the market over the past one month till 30 September 2016, sliding 0.87% compared with 1.68% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 2.05% as against Sensexs 3.21% rise.

The large-cap bank has equity capital of Rs 918.65 crore. Face value per share is Rs 5.

Kotak Mahindra Bank announced that it has executed binding share purchase agreement to acquire 99.49% of equity shares of BSS Microfinance (BSS), a non-banking finance company (NBFC), from existing shareholders subject to regulatory and other approvals, including Reserve Bank of India.

BSS has a commercially established model in the microfinance segment and this acquisition gives Kotak access to BSS growing customer base which currently stands at over 2.17 lakh and network of 78 branches as of 30 June 2016.

As of 30 June 2016, BSS has a networth of about Rs 73 crore and microfinance loans of Rs 483 crore in its books. It will be a subsidiary of Kotak after receiving regulatory and other approvals.

Kotak Mahindra Banks net profit rose 291% to Rs 741.97 crore on 11.7% growth in total income to Rs 5120.03 crore in Q1 June 2016 over Q1 June 2015.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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Rural Electrification Corporation announces change in directorate
Oct 03,2016

Rural Electrification Corporation announced that the Ministry of Power (MoP), Government of India, vide Order dated 29 November 2011 had appointed Rajeev Sharma as Chairman and Managing Director of REC for a period of 5 years or until further orders, whichever is earliest. Further, MoP, vide Order dated 18 May 2016 had conveyed the appointment of Rajeev Sharma as CMD of Power Finance Corporation (PFC) w.e.f. 01 October 2016. Accordingly, Rajeev Sharma has relinquished the charge of CMD, REC to join PFC & ceased to be CMD of REC w.e.f. 01 October 2016.

Further, the Ministry of Power, Government of India vide its Order dated 30 September 2016, has assigned the additional charge of the post of Chairman and Managing Director, REC to B. P. Pandey (IAS - UK: 1983), Special Secretary in the Ministry of Power, Government of India w.e.f. 01 October 2016 for the period of 3 months i.e. 01 October 2016 to 31 December 2016 or until further orders, whichever is earlier.

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APL Apollo Tubes appoints director
Oct 03,2016

APL Apollo Tubes has appointed Sharad Mahendra as Director - Sales & Marketing w.e.f. 27 September 2016 for achieving the new heights of product reach in global market.

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Steel Strips Wheels announces sales figures
Oct 03,2016

Steel Strips Wheels announced that in September 2016 the Company achieved total wheel rim sales of 12.08 lakh compared to 10.91 lakh in September 2015, representing an 11% YoY growth. In terms of value, the Company achieved gross turnover of Rs 101.33 crore in September 2016 compared to Rs 117.13 crore in September 2015, recording a contraction of 13% and achieved net turnover of Rs 91.25 crore in September 2016 compared to Rs 105.26 crore in September 2015, recording a contraction of 13%. The contraction is majorly due to the raw material price drop of close to 20% which is now applicable to 100% of the customers.

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Reliance Infrastructure and Dassault Aviation form JV in India
Oct 03,2016

Reliance Infrastructure and Dassault Aviation announced the creation of a joint venture in India. The new venture called Dassault Reliance Aerospace will support Prime Minister Modis n++Make in Indian++ and n++Skill Indian++ policies and develop major Indian programs with high levels oftechnology transfer to benefit the entire aerospace sector.

The proposed strategic partnership between Dassault and Reliance will also focus on promoting Research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of Indias Defence Minister Manohar Parrikar.

The n++Dassault Reliance Aerospacen++ Joint Venture will be a key player in the execution of offset obligations, as a part of the 36 Rafale fighter Jets purchase agreement at a value of n++7.87 billion, or about Rs.59,000 crore signed between France and India on 23 September 2016.

The agreement includes a 50% offset obligation which is the largest ever offset contract in the history of India.

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CEAT gets revision in credit ratings
Oct 03,2016

CEAT has received a ratings upgrade of one notch higher from CARE AA- to CARE AA from Credit Analysis and Research.

Long term bank facilities - CARE AA (revised from CARE AA-)
Short term bank facilities - CARE A1+ (reaffirmed)
Non Convertible Debentures - CARE AA (revised from CARE AA-)
Commercial Paper - CARE A1+ (reaffirmed)

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Bhel gains after winning orders
Oct 03,2016

The announcement was made during trading hours today, 3 October 2016.

Meanwhile, the BSE Sensex was up 363.57 points, or 1.30%, to 28,229.53

On BSE, so far 8.22 lakh shares were traded in the counter, compared with average daily volume of 10.96 lakh shares in the past one quarter. The stock hit a high of Rs 137.90 and a low of Rs 135.30 so far during the day. The stock hit a 52-week high of Rs 219.70 on 27 October 2015. The stock hit a 52-week low of Rs 90.40 on 29 February 2016.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said it has achieved another milestone in its services business by securing two Renovation & Modernization (R&M) contracts of Hydro Electric Plants (HEPs). Against stiff international competition, the company has won prestigious orders worth around Rs 430 crore, for the R&M of the 6x60 megawatts (MW) Balimela HEP of Odisha Hydro Power Corporation (OHPC) and the 3x60 MW Bairasiul HEP of National Hydro Power Corporation (NHPC).

The units at both Balimela and Bairasiul have been in operation for over 35 years and the R&M of these units will result in restoration of output capacity, improvement in efficiency and reduction in auxiliary power consumption, in addition to leading to better plant availability. Bhels scope of work in the orders envisages design, engineering, manufacturing, supply, dismantling, erection, testing and commissioning of critical parts of turbines, generators, governors, controls & instrumentation, protection and balance of plant (BoP). Major equipment for these contracts will be manufactured and supplied by BHELs plants at Bhopal, Jhansi and Bengaluru.

Bharat Heavy Electricals (Bhel)s net profit jumped 54.2% to Rs 77.77 crore on 29% growth in net sales to Rs 5522.76 crore in Q1 June 2016 over Q1 June 2015.

State-run Bhel is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016).

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No Impact seen on Indias Trade and Economy, PHD Chamber
Oct 03,2016

While applauding the Modi Government for taking desired action of surgical strikes against Pakistan, Dr. Mahesh Gupta, President, PHD Chamber of Commerce and Industry, said there will be no impact on Indias trade and economy.

The volatility in the financial markets will also be short lived.

Our economy is growing from strength to strength and has become the fastest moving economy in the world economic system, said Dr. Gupta.

Our industry and businesses will continue to function as usual, he said.

Pakistans presence in Indian trade and investments is minuscule and insignificant said Dr. Mahesh Gupta.

Indias flow of two way trade with Pakistan is only US $2.5 billion of which India exports to Pakistan for 2 billion dollars and imports worth half a billion dollar which accounts for only 0.4% of Indias overall trade.

We have lot of potential to divert our trade and investment flows towards many peaceful economies in the region, said Dr. Mahesh Gupta.

We salute and wish all the very best to our brave armed forces, said Dr. Gupta.

We believe Indias significant and desired action at border will establish peace in the coming times, he said.

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Authum Investment & Infrastructure to hold AGM
Oct 03,2016

Authum Investment & Infrastructure announced that the 34th Annual General Meeting(AGM) of the company on 30 September 2016.

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Tuni Textile Mills to hold AGM
Oct 03,2016

Tuni Textile Mills announced that the 29th Annual General Meeting(AGM) of the company on 30 September 2016.

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Tinna Rubber and Infrastructure to hold AGM
Oct 03,2016

Tinna Rubber and Infrastructure announced that the 29th Annual General Meeting(AGM) of the company on 30 September 2016.

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Andhra Petrochemicals to hold AGM
Oct 03,2016

Andhra Petrochemicals announced that the 32th Annual General Meeting(AGM) of the company on 29 September 2016.

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Ratnamani Agro Industries to hold AGM
Oct 03,2016

Ratnamani Agro Industries announced that the 44th Annual General Meeting(AGM) of the company on 30 September 2016.

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Krishana Fabrics to hold AGM
Oct 03,2016

Krishana Fabrics announced that the 35th Annual General Meeting(AGM) of the company on 30 September 2016.

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