Tata Crucible: The Campus Quiz 2014

Find out who won Tata Crucible Campus Quiz 2014 Ahmedabad finals.

Find out who won Tata Crucible Campus Quiz 2014 Ahmedabad finals.

08.11 | 0 komentar | Read More

Relieved TDSAT has recognised legitimacy of operators: COAI

Rajan Mathews The Director General of Cellular Operators Association Of India (COAI) said he is relieved that TDSAT has recognised the legitimacy of the operators and has recognised the claim to intra-circle roaming

In what came as a big relief for most telecom majors in India, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ruled in favour of intra-circle 3G roaming (ICR).

Commenting on the above ruling,  Rajan Mathews The Director General of Cellular Operators Association Of India (COAI) said he is relieved that TDSAT has recognised the legitimacy of the operators and has recognised the claim to intra-circle roaming.

He hopes that the operators will be able to continue from where they had stopped.

Airtel , Vodafone India, and  Idea Cellular entered into ICR in those circles where they didn't own the spectrum and shared the 3G spectrum.

Transcript to follow soon

Bharti Airtel stock price

On April 29, 2014, Bharti Airtel closed at Rs 335.15, down Rs 2.75, or 0.81 percent. The 52-week high of the share was Rs 373.50 and the 52-week low was Rs 274.50.

The company's trailing 12-month (TTM) EPS was at Rs 14.07 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 23.82. The latest book value of the company is Rs 135.70 per share. At current value, the price-to-book value of the company is 2.47.

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Snapdeal aims to triple seller base to 1 lakh this year

Homegrown e-commerce major Snapdeal aims to more than triple its seller base to 1 lakh in the next 12 months as increasing number of SMEs turn to the Internet to increase sales.

Snapdeal has 30,000 sellers on board and most of them are small and medium enterprises.

"On any given day, we get about 1,000 enquiries and about 15-20 percent of them get added and this is happened mostly based on word-of-mouth from existing sellers," Snapdeal.com co-founder and CEO Kunal Bahl said. 

"In the next 12 months, we are confident of having one lakh sellers on board. We already have 30,000 now, the largest for any marketplace in India," he added.

Also read:  Snapdeal.com acquires Doozton.com

Lifestyle (apparels) and electronics accounted for a bulk of its seller base.

Bhal said: "For SMEs, generally its a life of stagnation as business is more or less the same every month. But online, they have access to national audience and this increases their business manifold. About 93 per cent of India is SMEs and Internet is a great platform for them to connect with consumers."

Snapdeal has sellers from 200 towns and expects it to grow to about 500 this year.

"We are seeing good addition in south India, states like Andhra Pradesh, Tamil Nadu and Karnataka as well as places like Gujarat," Bahl added.

Asked about the steps Snapdeal is taking to bring more sellers on board, Bahl said the company follows a partnership model to ensure that sellers make money.

"We do not charge them for listing and we make revenue only when they sell. We also provide them adequate training. Most importantly, we are a marketplace and do not have our own products to compete with our sellers. That is a huge benefit that our sellers see," he said.

Citing an example, Bhal said an apparel maker has to make investment to set up a portal and on various payment gateways and even then, there is no surety that he will be able to direct traffic to the website.

"We offer analytical tools for them to know their sales velocity and how are they doing compared to other sellers in the same category in terms of pricing, shipping time and consumer ratings. This helps them tweak their offer in real time and making important business decisions," he said.

Asked if the company has witnessed any churn of sellers given the other marketplaces that have come up, Bahl answered in negation.

"Sellers feel the difference when they interact. We have not seen any attrition of sellers," he said.

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FinMin, DIPP to meet on HDFC Bank FDI proposal on Tue

Officials of the Finance Ministry and the DIPP will meet tomorrow to deliberate on the proposal to raise the overseas shareholding limit in HDFC Bank.

Officials of the Finance Ministry and the DIPP will meet tomorrow to deliberate on the proposal to raise the overseas shareholding limit in HDFC Bank.

The meeting of senior officials of the Department of Economic Affairs and the Department of Industrial Policy and Promotion (DIPP) would examine the bank's proposal and decide on whether the 22.64 per cent stake of parent entity  HDFC Ltd is foreign investment or not, sources said.

According to sources, if the proposal of the bank to raise foreign investment to 67.55 per cent is accepted, it would exceed the cap of 74 per cent, after taking into account parent HDFC Ltd's stake.

HDFC Ltd, which is 75.71 per cent owned by FIIs, and associate companies hold 22.64 per cent in HDFC Bank . Their investments in HDFC Bank were made before 2009, when the government came out with norms to calculate the level of foreign investment in companies.

"Downstream investment by HDFC Ltd prior to 2009 in HDFC Bank would be deemed as FDI in case there is any change in the shareholding pattern after the cut-off year," they said.

Last week, FIPB did not take up HDFC Bank's proposal.

HDFC Bank had approached the Foreign Investment Promotion Board (FIPB) in the latter half of 2013 to increase the foreign holding in the bank to 67.55 per cent from 49 percent.

Also Read: RBI unsupportive of HDFC Bank's plea to raise FII holding

HDFC Bank stock price

On April 17, 2014, HDFC Bank closed at Rs 714.00, down Rs 11.25, or 1.55 percent. The 52-week high of the share was Rs 760.50 and the 52-week low was Rs 528.00.

The company's trailing 12-month (TTM) EPS was at Rs 35.34 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 20.2. The latest book value of the company is Rs 186.31 per share. At current value, the price-to-book value of the company is 3.83.

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Bajaj Auto workers defer strike at Chakan plant by 2 weeks

The decision to put off the proposed strike was taken after a four-hour long meeting of union leaders at company's Chakan plant.

In a relief to Pune-based two-wheeler maker Bajaj Auto , its employees union today deferred the proposed strike from tomorrow by two weeks saying that workers have decided to give more time to the management to consider their charter of demands.

The decision to put off the proposed strike was taken after a four-hour long meeting of union leaders at company's Chakan plant.

"We have decided to defer our proposed strike at Chakan plant by two weeks. We have conveyed our decision to the management," Bajaj Auto employee union President Dilip Pawar told PTI.

Pawar said the decision was taken keeping in view the interest of employees and also grant more time to the management to consider the union's demand.

The union, on April 14, had served a notice with a list of demands, which include allocation of CSR funds for education of employees' children, setting up a museum in the name of company's founder Jamnalal Bajaj within a year and allotment of shares at a discounted price.

However, the management had termed the demand for allocation of funds for tribal development from CSR spend and setting up a museum in founder Jamnalal Bajaj's name as "insane".

The company had rubbished all the demands and said it would ensure that production is not hit if the union makes any attempt to disrupt it.

Bajaj Auto had said it has received a notice from its employee union for stoppage of work from April 28 at its Chakan plant.

The Chakan plant employs over 2,000 workers, including around 900 permanent ones, and produces 1.2 million units of bikes including the Pulsar, Avenger, Ninja and the KTM brands a year.

Bajaj Auto stock price

On April 17, 2014, Bajaj Auto closed at Rs 2016.20, up Rs 15.80, or 0.79 percent. The 52-week high of the share was Rs 2193.85 and the 52-week low was Rs 1683.35.

The company's trailing 12-month (TTM) EPS was at Rs 112.15 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.98. The latest book value of the company is Rs 273.08 per share. At current value, the price-to-book value of the company is 7.38.

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Essar Energy minority investors appeal to Indian, UK govts

Listed in London, 78 percent stakes in the Essar Energy is held by the Essar Group. The Ruia family controlled Indian conglomerate has offered 70 pence per share for the 22 percent of Essar Energy it does not own.

Minority investors in Essar Energy, operating UK's second-biggest oil refinery, have appealed to the Indian and British governments to intervene to prevent a forced takeover by its majority owner at a price they claim undervalues the company.

Listed in London, 78 percent stakes in the Essar Energy is held by the Essar Group. The Ruia family controlled Indian conglomerate has offered 70 pence per share for the 22 percent of Essar Energy it does not own.

Other Essar Energy shareholders and independent directors say the figure is too low - but because the majority owner controls more than 75 per cent of the shares it is in a position to push through the delisting.

Robert Hingley, director of investment affairs at the Association of British Insurers (ABI), wrote to India's High Commissioner in London Ranjan Mathai and British business minister Vince Cable regarding the issue on April 23.

Copies of Hingley's letters were released to the media today.

In his letter, Hingley said the forced delisting of Essar Energy would cause "real damage to the integrity of the UK market and to the reputation of Indian companies more generally."

The minority shareholders have also hired US law firm Skadden Arps to advise them.

Essar Energy's business interests span power and oil sectors in India. It operates Britain's second-biggest oil refinery, Stanlow, in northwest England.

The ABI's intervention comes after the findings of an independent committee of directors of Essar Energy on an offer that said it "materially undervalues Essar Energy and its future prospects."

Standard Life Investments, a top-five shareholder, has described the bid as "cynical opportunism." PTI AK

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YT: Uber betting big on India

Uber launched by Silicon Valley Maverick Travis Kalanick. Uber's application has become quite popular in the high-end radio cab market. This week Uber went live in Mumbai and did so with style offering free rides to senior citizens to help them caste their votes, just as they did in Delhi, Mumbai, Bangalore, Chennai and Hyderabad.

Uber launched by Silicon Valley Maverick Travis Kalanick. Uber's application has become quite popular in the high-end radio cab market. This week Uber went live in Mumbai and did so with style offering free rides to senior citizens to help them caste their votes, just as they did in Delhi, Mumbai, Bangalore, Chennai and Hyderabad.

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YT: Elections 2014, the Know Your Vote way!

Know Your Vote focuses on educating the youth to make informed decisions, spread political awareness and demand accountability from the government.

Know Your Vote launched by Dhruv Sarin in 2010, focuses on educating the youth to make informed decisions, spread political awareness and demand accountability from the government. Having reached at over one lakh individuals through social media platforms and campaigns, this largely self funded venture has already won awards from its unique business model and received a seed funding grant from the Ashoka Foundation.  

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LT gets Rs 4,510 cr order from Doha metro project

Engineering and construction firm Larsen and Toubro has received a USD 740 million (approx Rs 4,510) order from Qatar Railways Company for the design and construction of the Gold Line of the Doha metro project.

Engineering and construction firm  Larsen and Toubro has received a USD 740 million (approx Rs 4,510) order from Qatar Railways Company for the design and construction of the Gold Line of the Doha metro project.
     
L&T was among the five firms that forged a joint venture to bid for the project. The total order awarded to the JV is valued at USD 3.3 billion, but the share of L&T Construction's Heavy Civil Infrastructure business is valued at USD 740 million, L&T said in a statement.

Also Read: Doha win makes us a leading metro systems contractor: L&T
     
Two firms from Turkey and one each from Greece and Qatar had formed the joint venture.
     
"This order, close on the heels of Riyadh Metro order, has been won in the face of stiff global competition and reflects the growing confidence of clients in L&T's capability to handle mega projects in the Middle East," said S N Subrahmanyan, L&T's Senior Executive VP (Infrastructure and Construction).
     
The Doha metro project is scheduled to be completed in 54 months. The contract includes the design and construction of twin tunnels for a length of 11 km and 9 underground metro stations including architectural finishes and mechanical, electrical and plumbing works," L&T said.
     
The project is among the main infrastructure projects of national interest as per the Qatar National Vision 2030.
     
"We are very seriously pursuing our programme of internationalisation and such orders go a long way in opening the doors to new geographies and opportunities," Subrahmanyan said.

Larsen stock price

On April 25, 2014, Larsen and Toubro closed at Rs 1350.80, down Rs 26.5, or 1.92 percent. The 52-week high of the share was Rs 1387.85 and the 52-week low was Rs 678.10.

The company's trailing 12-month (TTM) EPS was at Rs 51.37 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 26.3. The latest book value of the company is Rs 272.53 per share. At current value, the price-to-book value of the company is 4.96.

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Here's why investors are shying away from Tilaknagar Ind

The five-year old battle with Dutch liquor maker Herman Jansen over its flagship brand, Mansion House Brandy, is costing liquor-maker Tilaknagar Industries  dearly. This is driving Tilaknagar to find a resolution as the scuffle is keeping investors at bay.

Tilaknagar Industries' Rs 650-crore rupee debt burden could have been easily dealt with, if an investor could be roped in. But for the last 5 years, the company has been locked in a war with Dutch liquor maker Herman Jansen over the rights to flagship brand Mansion House Brandy and despite Tilaknagar's deeply-discounted valuations, this battle has kept investors away. A pity, since investor interest has spiked since the USL-Diageo deal .

Here's the story so far: In 1983, Herman Jansen entered into a licensing agreement with Tilaknagar to produce and distribute Mansion House brandy in India. Four years later, it ceded control of the brand to Tilaknagar. But in 2008, Herman Jansen reclaimed its rights over the brand, saying the agreement with Tilaknagar had expired in 2007.

A court battle ensued and although the Bombay High Court ruled in Tilaknagar's favour in 2011, Herman Jensen appealed the verdict and the appeals process is still underway.

For Tilaknagar, the cost goes beyond reputation. Between March 2013 and March 2014, FIIs have slashed their shareholding in the company from 15 percent to 8 percent.

Experts say given the legal battle, Tilaknagar's discussions with PE players may also not bear fruit.

Deepak Ladha, ED, Ladderup Corporate Advisory says, "Even if PEs come in the overhand of ownership continues and there will always be uncertainty about who owns the brand, because 70% revenues come from these brands. So if you have an overhang, I'm not sure sure how many PEs would look at it."

The legal impasse is now pushing it to hunt for an out-of-court settlement.

Amit Dahanukar, CMD, Tilaknagar Industries says, "We are always open to mutually acceptable resolution of the dispute. We have no interest in litigation. Litigation is a compulsion and not desirable."

Tilaknagar says it has options on this front, but is not inclined towards any one. Experts say these options include making a cash payment to Herman Jensen or striking a royalty agreement with it or even selling a stake to the Herman Jansen-Allied Blender's joint venture that was formed in 2013.

Allied Blenders that has been trying to acquire Tilaknagar has reportedly bought a 50 percent stake in Mansion House Brandy, globally, from Herman Jansen.

But here's the twist. While Tilaknagar agrees it is negotiating with Allied Blenders for a stake sale, it says reports of a joint venture between Herman Jansen and Allied Blenders is speculation, as the rights to the Mansion House Brandy have not been transferred to any joint venture.

Tilaknagar Ind stock price

On April 25, 2014, Tilaknagar Industries closed at Rs 63.35, down Rs 1.95, or 2.99 percent. The 52-week high of the share was Rs 74.60 and the 52-week low was Rs 44.85.

The company's trailing 12-month (TTM) EPS was at Rs 4.76 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.31. The latest book value of the company is Rs 40.53 per share. At current value, the price-to-book value of the company is 1.56.

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K'taka to ask GMR to withdraw objections on Bidar airport

Karnataka Infrastructure Minister Roshan Baig today said he would be holding talks with the GMR Group during his visit to Delhi on April 29 to ask them to withdraw their objection to operation of facilities available at Bidar airport.

"I will try to convince them to lift their objections against operation of facilities available at Bidar airport," he told reporters here.

The GMR Group had objected to the operation of facilities at Bidar airport in northern tip of Karnataka citing distance factor from Hyderabad Airport, Baig said.

Also Read: GMR consortium wins $700 mn airport project in Philippines

He also said the state government was ready to hand over maintenance and operation of Bidar Civilian Airport facilities to the GMR Group, which operates Rajiv Gandhi International Airport in Hyderabad. "We are ready to hand over maintenance and operation of Bidar Airport facilities to them," he said.

He also said he would meet officials of the Civil Aviation Department, Directorate General of Civil Aviation (DGCA) and Defence Ministry in this regard and also on the issue of improving air connectivity across the state.

The terminal building at Bidar airport is ready and the government had obtained the clearance from the Civil Aviation Department and the Defence Ministry had cleared the proposal to use the runway and other facilities at the Indian Air Force station on the outskirts of Bidar, Baig said.

Similarly, government has initiated the process to acquire 84 acres of additional land to expand Mysore airport to tap the city's tourism potential and attract investment, Baig said.

The government has asked the National Highways Authority of India (NHAI) to start upgradation works of a stretch of NH 212 next to the workable airport sparing chunk of land needed for the airport expansion, Baig said.

The Airport Authority of India, which has reserved funds for expansion of the airport, had reportedly made it clear to the government that it will not take up works to expand the airport until Mysore-Nanjangud stretch is realigned.

He also said the dream of air connectivity for citizens of Gulbarga will be fulfilled soon as the bickering amongst the partners of the joint venture company Regional Airport Holdings International (Rahi) and IL&FS, had been solved. "Now IL&FS has agreed to complete the project."

One of the partners had initiated legal action against the other for refusing to participate in board meetings since February 2012, thereby blocking all attempts to raise the much needed capital to complete the project, Baig said.

Rahi was granted the lead role to develop, finance and build the Gulbarga airport through a government order on February 18, 2010.

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India plant unlikely to be part of Microsoft deal: Nokia

Nokia will instead operate the factory as a contract manufacturing unit for Microsoft after the deal, a spokeswoman for the Finnish company's Indian unit said on Thursday.

Nokia said that due to an ongoing tax dispute, its Indian mobile phone handset plant was unlikely to be included in a deal due to be concluded on Friday for the sale of its global handset business to Microsoft.

Nokia will instead operate the factory as a contract manufacturing unit for Microsoft after the deal, a spokeswoman for the Finnish company's Indian unit said on Thursday.

"It's highly unlikely that the plant will transfer, given that the (deal) closing with Microsoft is tomorrow," the spokeswoman said. "If the asset doesn't get transferred, we are entering into a service agreement with Microsoft."

Also Read: Nokia Chennai unit may become contract manufacturing plant

Nokia has yet to agree to conditions set by an Indian court, including payment of a guarantee for potential tax dues in a dispute with Indian authorities, before it transfers the plant to Microsoft. The plant, which Nokia says employs about 6,600 employees, is one of its biggest factories globally.

Nokia this month offered a voluntary retirement scheme to factory employees.

Nokia lawyers have previously told the Delhi High Court that the company can run the plant as a contract manufacturer in case it is not allowed to be transferred to Microsoft, but not beyond 12 months after closing their 5.4 billion euros (USD 7.5 billion) global deal.

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RBI panel moots centralised bill payment system

The RBI has sought comments on the Report of the GIRO Advisory Group till May 25.

An RBI panel today made a case for centralised bill payment system catering to different financial instruments, like cheques, debit cards and mobile banking.

"In order to ensure uniform and efficient implementation of operations of the bill payments system in the country, standards have to be set for process standards, business standards for establishing the relationship between all entities, and information exchange standards for transactions as well as settlements," it said.

The RBI has sought comments on the Report of the GIRO Advisory Group till May 25.

This centralised bill payments system, it said will provide accessible services across all parts of the country through a strong network of operational units/agents who will ensure in making this service accessible in urban as well as rural areas.

The report further said the standard setting role/function has to be distinct from the operational aspects of the bill payments system.

"It is, therefore, recommended that the bill payments system follow a 'tiered structure' - the standard setting functions being carried out by a central body / agency (to be named as Bharat Bill Payment System - BBPS) with actual operations being carried out by multiple entities," it added.

Currently, the payment system in the country offers a variety of payment instruments to the public, like cheques and various e-payment modes in the form of credit cards, debit cards, pre-paid payment instruments (including mobile wallets) issued by both banks and authorized non-bank entities.

In the context of bill payments, the payment delivery channels available to customers and consumers include bank branches, business correspondents, ATMs, mobile banking, internet banking, among others.

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Believe we can do corruption-free business in India: SAAB

Speaking to CNBC-TV18's Ronojoy Banerjee in Stockholm in Sweden home to the company's headquarters chairman of SAAB India said that while it wants to invest and transfer technology it would not do so will government allows at least 49 percent cap.

If that would be the only way for us to function in India we would leave.

Lars-Olof Lindgren

Chairman

SAAB India

Swedish defence giant SAAB has ruled out heavy investments in India until the government allows a higher FDI cap from the current 26 percent.

Speaking to CNBC-TV18's Ronojoy Banerjee in Stockholm in Sweden home to the company's headquarters chairman of SAAB India said that while it wants to invest and transfer technology it would not do so will government allows at least 49 percent cap.

"The Indian government puts a lot of efforts into creating processes to make it difficult for corruption. However, you can never 100 percent exclude these risks as we have seen in this case

In our policy it is 100 percent zero tolerance or 100 percent clean. The only reason if we would leave India would be that we realize we cannot do business without corruption. The jury is still out. However I believe we can stay in India. I think we can do business without corruption but it is a very serious mater you are bringing up," Lars-Olof Lindgren told the channel.
 
He also said that on back of the cancellation of Augusta Westland deal SAAB is worried about corruption issues and said the Swedish giant would exit India if it feels the only way to do business is through corruption.

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GSK slashes price of Crocin tablets across India by 50%

GlaxoSmithKline Asia is reducing price of Crocin Advance Paracetamol Fast Release 500 mg tablet to conform to the price notified under DPCO, 2013 with immediate effect.

GlaxoSmithKline Asia (GSKAP) has slashed the price of fever and pain-relief pill Crocin Advance tablets across the country by around 50 percent in order to conform to the price notified under DPCO, 2013.

GSKAP, which takes care of all non-nutrition products, has decided to reduce the price of the drug after getting a response from National Pharmaceuticals Pricing Authority (NPPA) on the application seeking exemption for Crocin Advance Paracetamol Fast Release 500 mg tablet under the provisions of the Drugs Price Control Order (DPCO), 2013.

" GSKAP is reducing price of Crocin Advance Paracetamol Fast Release 500 mg tablet to conform to the price notified under DPCO, 2013 with immediate effect ," GSKAP said in a statement.

Also read:  GSK-Novartis global deal won't impact India business: GSKCH

GSKAP takes care of all non-nutrition products whereas GSK Consumer Healthcare  is a listed entity which deals only in nutritional products.

From now onwards, Crocin Advance 500mg tablet will be supplied with price revision, the company said.

"Other variants of Crocin continue to be available for consumer consumption. GSKAP has been and will continue to be compliant with law of the land," it added.

Currently, Crocin Advance fast release 500 mg is priced at Rs 30 for a strip of 15 tablets, while the price of paracetamol 500 mg - the drug molecule - is capped by NPPA at 94 paise for a tablet, or around Rs 14 for a strip of 15.

GSK had stopped manufacturing Crocin in September 2012. It had then launched the variant 'Crocin Advance' at a higher price, claiming that it was an innovative product.

The other variants of Crocin sold include Crocin 650, Crocin Cold and Flu Max, Crocin Drops and Crocin Suspension.

GlaxoSmith Con stock price

On April 22, 2014, GlaxoSmithKline Consumer Healthcare closed at Rs 4357.60, down Rs 7.8, or 0.18 percent. The 52-week high of the share was Rs 6020.00 and the 52-week low was Rs 3645.00.

The company's trailing 12-month (TTM) EPS was at Rs 119.62 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 36.43. The latest book value of the company is Rs 443.23 per share. At current value, the price-to-book value of the company is 9.83.

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HAL Offshore to buy Technip's majority stake in Seamec

The deal involves sale of shares at Rs 97 a apiece. At this price, HAL Offshore has to shell out Rs 247 crore for 75 percent of Technip in Seamec.

French EPC major in the oil sector Technip today said it has decided to divest majority of its stake in Seamec to HAL Offshore for up to Rs 246.62 crore.

The stake in Seamec  is held by Technip's fully-owned subsidiary Coflexip Stena Mauritius.

The company is planning to sell anything between 51 and 75 percent of its stake in Seamec, Technip said in a statement.

It added that the deal involves sale of shares at Rs 97 a apiece. At this price, HAL Offshore has to shell out Rs 247 crore for 75 percent of Technip in Seamec.

Seamec is a leading provider of diving support vessel based diving services globally.

Also read:  India's 2013/14 fuel demand growth slowest in over a decade

Technip employs nearly 3,000-strong workforce in the country, focusing on onshore and offshore technologies and projects so as to grow in the exciting deepwater subsea sector.

The divestment is a part of Technip's strategy to concentrate on its core competencies involving deepest subsea complex, deepwater oil and gas developments.

HAL Offshore is an end to end solution provider of underwater services and EPC services to the domestic oil and gas industry. It owns two multi-purpose supply & support vessels and part of the MM Agrawal group, which is into bottling and marketing of soft drinks under license from Coca-Cola, hospitality, realty.

Technip is a world leader in project management, engineering and construction for the energy industry.

Ambit Corporate Finance is the exclusive financial adviser to Technip on the transaction.

Seamec stock price

On April 22, 2014, Seamec closed at Rs 99.55, down Rs 0.6, or 0.6 percent. The 52-week high of the share was Rs 116.60 and the 52-week low was Rs 38.10.

The latest book value of the company is Rs 138.87 per share. At current value, the price-to-book value of the company was 0.72.

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Intellectual Property Rights: India talks tough with US

India will drag the US to the WTO if Washington decides to put New Delhi in the Priority Foreign Country list for intellectual property rights (IPR), which could lead to trade curbs on domestic firms, sources said.

The fight between India and the US over intellectual property rights has worsened. On the April 30th the United States Trade Representative will release the special 301 report, where India may be categorised as a serious IPR offender.

However, India will drag the US to the WTO if Washington decides to put New Delhi in the Priority Foreign Country list for intellectual property rights (IPR), which could lead to trade curbs on domestic firms, sources said.

For more details listen in to the video where CNBC-TV18's Rituparna Bhuyan has more details and Senior Advocate Pratibha M Singh shares her thoughts on the same.

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Nokia to close deal with Microsoft on Apr 25

Finnish handset major Nokia today said it expects the USD 7.2-billion deal with Microsoft for sale of its mobile devices and services business to conclude on April 25 and expressed the hope it would continue to operate the disputed Chennai plant under a service agreement.

"Nokia today announced that it expects the transaction whereby the company will sell substantially all of its devices & services business to Microsoft to close on April 25, 2014.

The transaction is now subject only to certain customary closing conditions," Nokia said in a statement.

The future of Chennai plant, which employs 6,600 people and is entangled in tax disputes with Indian authorities, is uncertain.

"With Chennai, it is worth remembering that we have said we will consider a services agreement with Microsoft should our Indian assets not be able to transfer at the close of the global deal," a Nokia spokesperson said.

A Nokia official told PTI the company is still exploring the option of operating the plant by getting into a services agreement, which would allow it to continue as a contract manufacturer for other companies.

"The situation is a complicated one, and Nokia is continuing to weigh its options. As there is still time before the closing of the deal, we cannot speculate on possible outcomes at this point," the spokesperson added.

In March, the Tamil Nadu government had slammed a Rs 2,400-crore notice on Nokia, saying the company had been selling products from Chennai plant in domestic market instead of shipping overseas.

On March 14, the Supreme Court ordered Nokia India to give Rs 3,500 crore as guarantee before it transfers the plant to Microsoft.

Last September, Nokia had announced it would sell a substantial part of its devices and services (D&S) business, including assets in India, to Microsoft for USD 7.2 billion by March 2014.

The handset and other asset components under the deal will be handed over to Microsoft's Finnish entity Microsoft Mobile Oy.

The company has often indicated that the transfer of the Chennai plant may be adversely impacted if the tax dispute remains unresolved.

According to Nokia India Employees Union Honorary President, A Soundararajan, the Chennai plant, which was producing about 1 million mobile handsets per day, witnessed a steep decline and production now stands at just 0.4 million handsets.

Recently, the company offered a voluntary retirement scheme to its employees in Chennai and about 700 trainees are learnt to have opted for it.

The spokesperson declined to confirm the number. Meanwhile, employees at the Chennai plant have started boycotting canteen services from today in protest against the recently announced voluntary retirement scheme, which they allege is being forced on them.

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OVL's crude oil output jumps 26% in 2013-14

ONGC Videsh Ltd, the overseas arm of state-owned  Oil and Natural Gas Corp (ONGC), has reported a 26% jump in crude oil production in 2013-14 as recent acquisitions offset a natural decline in older fields.

OVL produced 5.491 million tons of crude oil from assets in over 16 countries in 2013-14 as against 4.341 million tons in the previous year, a company official said.

Also Read: ONGC Videsh to get stake in Myanmar oil and gas block

While its fields in South Sudan and Syria were shut for geopolitical reasons, the acquisition of a 3% interest in an Azerbaijan oil field and an additional 12% stake in a Brazilian field led to the rise in production.

The official said OVL's South Sudan properties, which produced 45,000 barrels per day, has been shut since December, while its 70,000-80,000 bpd Syrian oil fields have not produced any oil for two years due to the geopolitical situation, including EU sanctions against that country.

OVL's natural gas production, however, declined 2% to 2.869 billion cubic meters from 2.919 bcm in 2012-13.

Gas output from the A1-A3 offshore blocks in Myanmar started in July and the fields currently produce 8.5 million standard cubic meters of gas a day, he said, adding that peak output of 14.5 mmscmd is likely by the year end. OVL has a 17% share in the fields.

The company is targeting 20 million tons of oil and oil equivalent gas production by 2018 and 60 million tons by 2030.

It produced 7.26 million tons of oil and oil equivalent gas in 2012-13, which increased 15% in 2013-14 to 8.36 million tons of oil and oil equivalent gas, he said.

During 2013-14, OVL raised its stake in the producing BC-10 block in Brazil to 27% from 15% at a cost of USD 529 million.

It acquired a 16% stake in the giant Rovuma Area-1 gas block in Mozambique for USD 4.125 billion.

"After the acquisition, the estimated reserves of Area-1 have increased from 35-65 trillion cubic feet estimated at the time of acquisition to 45-70 tcf now," he said.

The reserves at the lower end of the band in Area-1 are 15 times more than the re-stated reserves in Reliance Industries' eastern offshore KG-D6 block.

In February, OVL and Oil India Ltd jointly acquired two Bangladesh shallow-water exploration blocks -- SS09 and SS04.

In October 2013, it was awarded two onshore exploratory blocks -- B-2 (Zebyutaung-Nandaw) and EP-3 (Thegon-Shwegu) in Myanmar. Block B-2, with an area of 16,995 sq kms, is located in Northern Myanmar, bordering Manipur state in India, and Block EP-3, covering 1,650 sq kms, is located in Central Myanmar.

ONGC stock price

On April 17, 2014, Oil and Natural Gas Corporation closed at Rs 322.25, up Rs 5.35, or 1.69 percent. The 52-week high of the share was Rs 353.00 and the 52-week low was Rs 234.40.

The company's trailing 12-month (TTM) EPS was at Rs 24.07 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 13.39. The latest book value of the company is Rs 145.47 per share. At current value, the price-to-book value of the company is 2.22.

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Five of eight Coal India subsidiaries miss output target

Five of Coal India 's eight subsidiaries failed to meet their production targets in the recently concluded financial year, hampering efforts to narrow the demand-supply gap.

Coal India Ltd, which accounts for over 80 percent of domestic output of the fuel, produced 462 million tonnes in the year ended March 31, against a target of 482 million tonnes, mainly due to the dismal show by the five units.

Also Read: Canada invites Coal India to explore mining opportunities

The state-owned mining company is the world's largest coal producer. A shortfall in production may widen the demand-supply gap, which is slated to rise to 185.5 million tonnes by 2016-17.

"Mahanadi Coalfields, the second-largest coal-producing subsidiary of Coal India, could record only 110 million tonnes as against a target of 120 million tonnes, while another important arm, Northern Coalfields, recorded an output of 69 million tonnes against a target of 72 million tonnes for 2013-14," a source said.

Central Coalfields Ltd produced 50 million tonnes against 54 million tonnes and output by Western Coalfields stood at 40 million tonnes, short of the target of 44 million tonnes, the source said.

North Eastern Coalfields produced 660,000 tonnes against the target of 1 million tonnes.

Three subsidiaries achieved or exceeded targets. South Eastern Coalfields Ltd met the target of 124 million tonnes.

Eastern Coalfields produced 36 million tonnes and Bharat Coking Coal's output was 33 million tonnes.

A Coal India official attributed the production shortfall mainly to reasons such as "environment clearance problem and also due to Cyclone Phailin."

The cyclone in October affected the key coal-producing states of Odisha, Jharkhand and West Bengal.

In 2012-13, Coal India produced 452.5 million tonnes of coal, short of the goal of 464 million tonnes.

Coal India's production target for 2014-15 has been set at 507 million tonnes.

Coal is the mainstay of India's energy programme as 70 percent of power generation is dependent on the dry fuel.

Coal Minister Sriprakash Jaiswal recently said India needs to be "more aggressive" to boost production.

India is the third-largest producer of coal, after China and the US, and has 299 billion tonnes of resources and 123 billion tonnes of proven reserves, which may last for over 100 years.

Coal India stock price

On April 17, 2014, Coal India closed at Rs 289.70, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 330.65 and the 52-week low was Rs 238.35.

The company's trailing 12-month (TTM) EPS was at Rs 26.41 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 10.97. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company is 8.92.

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Manish Vij recommends an app to help analyse data

On Web Check this week, we have Smile Vun Group's CEO & Founder, Manish Vij, and he is recommending an app that he says will help you analyse data.

On Web Check this week, we have Smile Vun Group's CEO & Founder, Manish Vij, and he is recommending an app that he says will help you analyse data.

08.11 | 0 komentar | Read More

Reebok India's comeback strategy

Recovering from the Rs 870 crore scam that hit the sports goods maker Reebok in 2012, it has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri.

It's been a year of change for Reebok in India. Recovering from the Rs 870 crore scam that hit the sports goods maker in 2012, Reebok has restructured its business and repositioned the brand. This week, the sportswear brand kicked off a marketing campaign that debuts its new logo, as well as two new brand ambassadors in John Abraham and Nargis Fakhri. Here's the MD of Reebok India, Eric Haskell on the company's growth strategy and new positioning.

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Glenmark pulls 2,900 bottles of ulcer drug in US

Medicines produced in India, which supplies about 40 percent of generic and over-the-counter drugs sold in the United States, have come under increased scrutiny by the Food and Drug Administration over the past year.

Glenmark Pharmaceuticals Ltd  is recalling some 2,900 bottles of its stomach ulcer drug ranitidine in the United States after a foreign tablet was found in one of the bottles.

Medicines produced in India, which supplies about 40 percent of generic and over-the-counter drugs sold in the United States, have come under increased scrutiny by the Food and Drug Administration over the past year.

In the last six months alone, products made by some of India's largest drugmakers, including Ranbaxy Laboratories Ltd ,  Sun Pharmaceutical Industries Ltd and  Dr. Reddy's Laboratories Ltd have been recalled from the United States.

The lot being recalled was manufactured for Glenmark by Shasun Pharmaceuticals Ltd , and the foreign tablet was identified to be metoprolol tartrate, a drug to treat high blood pressure, according to information posted by the FDA on Thursday. The recall began on March 18.

"Corrective actions have been implemented and the recall is limited to only one lot of material," a Glenmark representative said in a statement to Reuters. "Financially, the impact of the recall is very insignificant."

Glenmark stock price

On April 17, 2014, Glenmark Pharma closed at Rs 582.45, down Rs 0.65, or 0.11 percent. The 52-week high of the share was Rs 612.00 and the 52-week low was Rs 467.50.

The company's trailing 12-month (TTM) EPS was at Rs 13.53 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 43.05. The latest book value of the company is Rs 93.03 per share. At current value, the price-to-book value of the company is 6.26.

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Alstom bags Rs 2,500 crore contract from BHEL

Under the contract, Alstom will cooperate with BHEL in designing boilers and supply identified pressure parts of the 660 MW supercritical boilers. It will also assist BHEL with technical advisors during the erection and commissioning of the units.

French power equipment maker Alstom on Friday said it has bagged a 30 million euro contract from state-owned firm  BHEL for setting up a thermal power plant at Jharsaguda in Odisha.

Also Read: BHEL disappoints with its FY14 provisional results

"Alstom has been awarded a contract by BHEL worth close to Euro 30 million (approximately Rs 2,500 crore) for executing the 2x660 MW Banharpalli thermal power project in Odisha," the company said in a statement.

Under the scope of the contract, Alstom will cooperate with BHEL in designing the boilers and supply identified pressure parts of the 660 MW supercritical boilers, the statement said. It will also assist BHEL with technical advisors during the erection and commissioning of the units.

Key components will be manufactured in Alstom's manufacturing facilities in Concordia (USA), as well as in Durgapur (West Bengal).

The first and second units are expected to be commissioned by 2018. "We are pleased to win this contract for which we will provide our leading supercritical power plant solutions," Patrick Ledermann, Vice President of Alstom Thermal Power & Renewable Power in India, said.

Last month, Alstom was awarded a contract worth 85 million euro by BHEL to supply two 800 MW supercritical boilers for Darlipalli super thermal power project located in Sundergarh, Odisha.

BHEL stock price

On April 17, 2014, Bharat Heavy Electricals closed at Rs 181.05, up Rs 5.45, or 3.10 percent. The 52-week high of the share was Rs 207.90 and the 52-week low was Rs 100.35.

The company's trailing 12-month (TTM) EPS was at Rs 19.83 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.13. The latest book value of the company is Rs 124.38 per share. At current value, the price-to-book value of the company is 1.46.

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CavinKare and Bharatiya Mahila Bank signs MoU

As per the agreement, the all-women bank will provide a loan amount between 65 to 75 percent of the total project cost with 11.5 to 12.5 percent interest for Green Trends franchises, it added.

Diversified FMCG company CavinKare today announced strategic partnership with country's first all-women Bharatiya Mahila Bank to promote women entrepreneurs in the organised beauty salon industry.

Green Trends, part of CavinKare's salon business unit - Trends In Vogue has signed an MoU with Bharatiya Mahila Bank. Green Trends is planning to exit with 500 salons for this financial year 2014-15 and also introduce a first of its kind Mobile and Online check-in service in the Indian organized salon segment.

As per the agreement, the all-women bank will provide a loan amount between 65 to 75 percent  of the total project cost with 11.5 to 12.5 percent  interest for Green Trends franchises, it added.

It would also give one percent  rebate in the interest rate for the women entrepreneur.

Commenting on the development, Trends In Vogue Business Head R Gopalakrishnan said:" We have been noticing a significant upswing trend of women from various backgrounds entering this beauty salon segment and this MoU with Bhartiya Mahila Bank will further strengthen the support. We expect 40 to 60 percent  of new salons to be owned by women franchisees".

Bhartiya Mahila Bank CMD Usha Ananthasubramanian said:" We see a tremendous potential in the Indian beauty industry for women to establish themselves as entrepreneurs".

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MCX-SX extends rights issue till April 30

MCX Stock Exchange (MCX-SX), facing legal battles, today extended the subscription period for its rights issue till April 30, citing a request from banks.  The response to the rights issue has been encouraging and the exchange has started receiving funds on account of the same, a release from the troubled exchange said, adding the subscription period has been extended to April 30.

"The shareholding banks need to seek clearance from their investment committees, the board and RBI. This is a time consuming process and a few banks have requested the exchange to extend the deadline of subscription to the rights issue," it said. An exchange official said the company will mainly focus on the currency derivatives segment now. MCX-SX will be able to generate the necessary funds and rights issue is not the only way to infuse capital into the system.

The exchange is confident of raising Rs 200 crore via rights issue. Beyond that, it has a plan B of preferential placement, strategic investors, mergers, which is for the long term, he added. In the first phase of its fund raising initiative, MCX-SX had announced its rights issue in the ratio of 2:1 equity shares held by the existing shareholders. The exchange plans to mobilise Rs 200-250 crore after the issue.

Also Read: Fin Tech's MCX stake to go to multiple investors, say Sources

Post-rights issue, the exchange plans to rope in new foreign investors as strategic partners. A few international exchanges and large liquidity providers have evinced interest in the Exchange which is a positive development, he said.

The other option on the anvil is a merger with a national or regional stock exchange which is expected to bring in a lot of synergy, consolidation of net worth as well as reduction in cost and increase in volumes, the official said. Many institutional investors earlier preferred to stay away from the rights issue due to FTIL -promoted National Spot Exchange (NSEL) facing Rs 5,600 crore payment crisis, and resignation of MCX-SX Chairman GK Pillai after CBI began an inquiry into the grant of licence to the bourse by Sebi.

FTIL and MCX were among the original promoters of MCX-SX, the country's youngest exchange, and following a restructuring they were shifted to public shareholder category. The newly-appointed MCX-SX management has taken a slew of measures to improve the balance sheet. These include negotiating technology agreements with vendors and temporary suspension of the liquidity enhancement scheme.

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Labour woes hit Bajaj Auto; workers to strike from Apr 28

The workers have demanded they be given 500 shares of the company for Rs 10 each.

Labour trouble seems to plague  Bajaj Auto yet again. The auto major's 850 permanent workers at Chakan plant have announced an indefinite strike effective April 28.

The workers have demanded they be given 500 shares of the company for Rs 10 each.

As per the company's closing share price, the value of the shares stands at Rs 10 lakh which the Union hopes to get for Rs 5,000. However Bajaj Auto has said that they will steadfastly oppose the demand.

Bajaj Auto stock price

On April 16, 2014, Bajaj Auto closed at Rs 2000.40, down Rs 5.45, or 0.27 percent. The 52-week high of the share was Rs 2193.85 and the 52-week low was Rs 1683.35.

The company's trailing 12-month (TTM) EPS was at Rs 112.15 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 17.84. The latest book value of the company is Rs 273.08 per share. At current value, the price-to-book value of the company is 7.33.

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SpiceJet introduces another low fare offer

The cities from where the travellers can avail the special scheme include Ahmedabad, Aurangabad, Goa, Indore, Mumbai, Pune and Surat.

The fare war started by budget carrier  SpiceJet in January that led to cuts by other domestic players remains unabated with the Kalanithi Maran promoted- airline now coming up with another low fare offer from select cities.

The low fares offered by SpiceJet, which vary from city to city, are available for travel between June 10 and August 10 this year with a three-day booking window starting from today, according to the information published on SpiceJet website.'

The cities from where the travellers can avail the special scheme include Ahmedabad, Aurangabad, Goa, Indore, Mumbai, Pune and Surat. This is the seventh discounted sale offer and the second regional sale offer that the Gurgaon-based carrier has announced this year. In January, SpiceJet had offered upto 75 percent discount on its ticket prices.

Also Read: Why SpiceJet believes its fare war is 'good for industry'

SpiceJet stock price

On April 16, 2014, SpiceJet closed at Rs 16.65, down Rs 0.95, or 5.4 percent. The 52-week high of the share was Rs 43.75 and the 52-week low was Rs 12.50.

The latest book value of the company is Rs -3.50 per share. At current value, the price-to-book value of the company was -4.76.

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FIIs allowed to buy up to 55% in Jubilant FoodWorks

Earlier in January, FIIs were restricted to purchase shares in Jubilant FoodWorks as the allowed buying by FIIs had reached trigger limit. FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).

Foreign institutional investors (FIIs) would be able to purchase up to 55 per cent of the paid-up capital in Jubilant FoodWorks, which operates Domino's Pizza brand in the country. The limit has been enhanced from earlier 49 percent that FIIs could acquire under the portfolio investment scheme (PIS) from primary market.

" Jubilant FoodWorks Limited has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit from 49 percent to 55 percent for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)," RBI said in a notification.

Also Read: Despite slowdown Jubilant's investment plans intact

With the enhancement in the limit of foreign buying, the RBI further said that the restrictions placed on the purchase of shares in the company are withdrawn with immediate effect. Earlier in January, FIIs were restricted to purchase shares in Jubilant FoodWorks as the allowed buying by FIIs had reached trigger limit. FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).

Under the scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges. RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. For effective monitoring of foreign investment ceiling limits, the RBI has fixed cut-off points that are two percentage points lower than the actual ceilings. Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. Shares of the company traded 1.03 per cent lower at Rs 1,029.55 apiece on the BSE at the close of market.

Jubilant Food stock price

On April 15, 2014, Jubilant Foodworks closed at Rs 1029.55, down Rs 10.7, or 1.03 percent. The 52-week high of the share was Rs 1389.95 and the 52-week low was Rs 928.00.

The company's trailing 12-month (TTM) EPS was at Rs 20.41 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 50.44. The latest book value of the company is Rs 66.68 per share. At current value, the price-to-book value of the company is 15.44.

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Four names shortlisted for FTIL stake sale in MCX

While the Kotak Group is expected to be front runner for the same, a final agreement can be expected by April 25.

The deadline is nearing for  Financial Technologies to sell 24 percent stake in MCX. Sources tell CNBC-TV18 that the MCX stake sale has reached its second stage.

Four names have been shortlisted for the next process. While the Kotak Group is expected to be front runner for the same, a final agreement can be expected by April 25.

Financial Tech stock price

On April 10, 2014, Financial Technologies closed at Rs 364.70, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 870.30 and the 52-week low was Rs 102.05.

The company's trailing 12-month (TTM) EPS was at Rs 50.03 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 7.29. The latest book value of the company is Rs 580.93 per share. At current value, the price-to-book value of the company is 0.63.

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Clearance delays push RCF's project cost by Rs 500 crore

Rashtriya Chemicals and Fertilizers's project cost for expansion of its urea plant in Maharashtra is likely to shoot-up by Rs 500 crore to about Rs 4,600 crore as the company is yet to receive the government's nod to start the project.

Rashtriya Chemicals and Fertilizers 's project cost for expansion of its urea plant in Maharashtra is likely to shoot-up by Rs 500 crore to about Rs 4,600 crore as the company is yet to receive the government's nod to start the project.

As per the proposal, an ammonia-urea plant will be set up at Thal in Maharashtra with a capacity of 1.27 million tonnes per annum on 200 acres of land. Rashtriya Chemicals and Fertilisers (RCF) had awarded tender for the project to engineering and construction company Tecnimont ICB (TICB) in 2012 for Rs 4,112.50 crore, but construction work on the project did not initiate in last two years.

"Last month, the technology partner TICB had opted out of the project as it became unviable for them on the cost at which it was awarded to them two years back," sources said. Sources added that only last year the project got pre-Public investment Board (PIB) clearance and presently it is stuck at the PIB level.

"RCF is contemplating to issue new tenders inviting bids for the technology partner of the project and as per the estimations, project cost is likely to increase by Rs 500 crore to Rs 4,600 crore," a source said.

The Mumbai-based PSU produces various grades of complex fertilisers at its two manufacturing units in Thal and Trombay in Maharashtra.

RCF, along with Coal India , GAIL  and Fertiliser Corporation of India (FCIL), has also formed a consortium to revive the sick unit of FCIL at Talcher at a cost of Rs 8,000 crore to manufacture urea and ammonium nitrate via coal gasification.

The proposed unit at Talcher, which is expected to be commissioned by 2017, will manufacture 1.2 million tonnes of urea per annum (mtpa).

RCF had reported 28 per cent fall in net profit at Rs 52.90 crore for the third quarter ended December 31.

Rashtriya Chem stock price

On April 07, 2014, Rashtriya Chemicals and Fertilisers closed at Rs 34.65, down Rs 0.1, or 0.29 percent. The 52-week high of the share was Rs 43.20 and the 52-week low was Rs 26.00.

The company's trailing 12-month (TTM) EPS was at Rs 3.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.88. The latest book value of the company is Rs 42.69 per share. At current value, the price-to-book value of the company is 0.81.

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Investors expect seasonally muted quarter from Infosys

While Infosys did manage to spring a positive surprise with its third quarter numbers, despite Q3 being a seasonally weak quarter for the sector, analysts still believe that the company is couple of quarters away from witnessing a turnaround.

After N.R Narayana Murthy sounded off a cautious warning to investors followed by Tata Consultancy Services ' similar hint to analysts, Infosys  watchers have tempered their expectations from the fourth quarter numbers. While Infosys did manage to spring a positive surprise with its third quarter numbers, despite Q3 being a seasonally weak quarter for the sector, analysts still believe that the company is couple of quarters away from witnessing a turnaround.

As per a CNBC-TV18 poll, for the quarter ending March 31st, 2013, Infosys is expected to report a flat sequential revenue growth with revenue in dollar terms expected to come in at USD 2102 million. In rupee terms, the company may witness a marginal fall of 0.5 percent with revenues expected at Rs 12,962 crore versus the Rs 13,026 crore figures reported last quarter. Profits may see a 1.4 percent dip with net profit expected at Rs 2835 crore versus Rs 2875 crore reported last quarter at the back of a cautious management commentary.

Infosys had earlier indicated that business has been sluggish for the past two months and IT budgets have been impacted by (1) Aggressive promotions and discounting by retailers that have impacted earnings, (2) Reduced growth expectations in emerging markets and (3) The harsh winter in the US.

EBIT margins are expected to rise marginally from 25.02 percent last quarter to 25.13 percent in the Jan to March quarter aided by cost optimisation initiatives by the company that is expected to flow into a steady margin performance. Last quarter Infosys had delivered a growth of 140 basis points in its margin performance driven by higher utilisation, higher offshore percentage and cost cutting initiatives.

In full year terms, dollar term revenue growth may rise by 11.6 percent at USD 8259 million vs USD 7398 million in the same period last year, whereas in rupee terms the company may see a growth of 24.5 percent at Rs 50,220 crore vs Rs 40,352 crore in the same period last year. For FY14 management had cautioned that growth will be at the lower end of the guidance of 11.5-12 percent projected by the management, in dollar terms. Profits may rise 11.34 percent coming in at Rs 10,491 crore vs Rs 9421 crore reported last year in the same period.

The street however is most watchful for the guidance that Infosys will project for FY15. While analysts have a wide range of expectations, most expect the company to project a guidance of 6-8 percent for FY15 at the back of a weak FY14 exit and muted growth expectations in 1HFY15. Revenue guidance below 6 percent will be a negative surprise for the street and can subsequently hit the stock.

Nasscom guidance for the sector's growth in FY15, given in February 2014, stood at 13-15 percent. All in all the street has a cautious approach in expectations from Infosys, largely owning to the managements clear indication that it would take up to three years for the company to bounce back to a sector leading revenue growth performance and hence a FY15 revenue guidance expectation below Nasscom's guidance range is not a big surprise.

Infosys stock price

On April 11, 2014, Infosys closed at Rs 3235.85, up Rs 29.25, or 0.91 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.

The company's trailing 12-month (TTM) EPS was at Rs 167.46 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 19.32. The latest book value of the company is Rs 627.95 per share. At current value, the price-to-book value of the company is 5.15.

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PNB opens 120 branches on 120th Foundation Day

State-owned Punjab National Bank (PNB) has opened 120 new branches across the country to mark its 120th Foundation Day. The bank started its operation on April 12, 1895, in Lahore, now in Pakistan.

State-owned Punjab National Bank  (PNB) has opened 120 new branches across the country to mark its 120th Foundation Day. The bank started its operation on April 12, 1895, in Lahore, now in Pakistan.

"The bank commemorated the momentous day by adding 120 branches across India dedicated to serve the customers. The 120th branch of the bank is located near the birth place of our founding father Lala Lajpat Rai," PNB said in a statement.

On this historic day, the bank launched its PNB Platinum Credit Card with various features including maximum limit of Rs 10 lakh.

PNB stock price

On April 11, 2014, Punjab National Bank closed at Rs 778.25, down Rs 3.7, or 0.47 percent. The 52-week high of the share was Rs 852.15 and the 52-week low was Rs 402.20.

The company's trailing 12-month (TTM) EPS was at Rs 101.28 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 7.68. The latest book value of the company is Rs 902.74 per share. At current value, the price-to-book value of the company is 0.86.

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Clearance delays push RCF's project cost by Rs 500 crore

Rashtriya Chemicals and Fertilizers's project cost for expansion of its urea plant in Maharashtra is likely to shoot-up by Rs 500 crore to about Rs 4,600 crore as the company is yet to receive the government's nod to start the project.

Rashtriya Chemicals and Fertilizers 's project cost for expansion of its urea plant in Maharashtra is likely to shoot-up by Rs 500 crore to about Rs 4,600 crore as the company is yet to receive the government's nod to start the project.

As per the proposal, an ammonia-urea plant will be set up at Thal in Maharashtra with a capacity of 1.27 million tonnes per annum on 200 acres of land. Rashtriya Chemicals and Fertilisers (RCF) had awarded tender for the project to engineering and construction company Tecnimont ICB (TICB) in 2012 for Rs 4,112.50 crore, but construction work on the project did not initiate in last two years.

"Last month, the technology partner TICB had opted out of the project as it became unviable for them on the cost at which it was awarded to them two years back," sources said. Sources added that only last year the project got pre-Public investment Board (PIB) clearance and presently it is stuck at the PIB level.

"RCF is contemplating to issue new tenders inviting bids for the technology partner of the project and as per the estimations, project cost is likely to increase by Rs 500 crore to Rs 4,600 crore," a source said.

The Mumbai-based PSU produces various grades of complex fertilisers at its two manufacturing units in Thal and Trombay in Maharashtra.

RCF, along with Coal India , GAIL  and Fertiliser Corporation of India (FCIL), has also formed a consortium to revive the sick unit of FCIL at Talcher at a cost of Rs 8,000 crore to manufacture urea and ammonium nitrate via coal gasification.

The proposed unit at Talcher, which is expected to be commissioned by 2017, will manufacture 1.2 million tonnes of urea per annum (mtpa).

RCF had reported 28 per cent fall in net profit at Rs 52.90 crore for the third quarter ended December 31.

Rashtriya Chem stock price

On April 07, 2014, Rashtriya Chemicals and Fertilisers closed at Rs 34.65, down Rs 0.1, or 0.29 percent. The 52-week high of the share was Rs 43.20 and the 52-week low was Rs 26.00.

The company's trailing 12-month (TTM) EPS was at Rs 3.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 8.88. The latest book value of the company is Rs 42.69 per share. At current value, the price-to-book value of the company is 0.81.

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FTIL to shortlist bidders to buy MCX stake by Apr 25

In a statement, FTIL said, "The Restructuring Committee received non-binding bids from nine prospective investors, which includes marquee Indian and global conglomerates."

Crisis-hit  FTIL today said it has received non-binding bids from 9 top corporates for buying its 24 percent stake in MCX , and would shortlist the bidders by April 25. FTIL is making all efforts to complete the proposed sale of its stake in MCX by April 25 and has called for a Board meeting on that day to finalise the bidders, the company said in a statement.

Jignesh Shah-promoted FTIL has to reduce its stake in MCX to 2 percent from the current 26 percent to comply with the regulatory norms following the NSEL payment crisis of Rs 5,600 crore. FTIL has appointed a committee to oversee its restructuring plan, which includes divesting its take in MCX. The panel met yesterday.

Also Read: Back to duopoly in equity trading; it is advantage BSE, NSE

In a statement, FTIL said, "The Restructuring Committee received non-binding bids from nine prospective investors, which includes marquee Indian and global conglomerates." The committee has completed the process of shortlisting of the parties with whom FTIL's appointed banker JM Financial will take the discussion forward, it said.

The shortlisted bidders have sought interaction with the MCX management and customary due diligence as a pre-condition to the said sale. The committee has decided to shortlist the bidders by April 25 and will recommend the same to the Board of FTIL, after the due diligence request of bidders is completed by MCX, it added.

FTIL said it is making all efforts to "complete the proposed sale of its 24 percent equity stake in MCX by April 25, 2014." A Board meeting on April 25 has been called for selecting the final bidders, it added. FTIL mentioned that it will write to the MCX Board seeking its cooperation for management interaction with the shortlisted bidders and customary due diligence to enable proposed sale within the defined timelines.

The company will also write to regulator Forward Markets Commission (FMC) seeking its support and cooperation in the matter. It will update FMC periodically on the progress made in the stake sale process, it added. Shah-led group as well as FTIL are grappling with multiple woes in the wake of the Rs 5,600 crore payment crisis at the group firm National Spot Exchange Ltd  (NSEL).

FMC had ruled that FTIL and Shah were not 'fit and proper' to hold more than 2 percent stake in any commodity exchange. The order has been challenged in the court.

Financial Tech stock price

On April 11, 2014, Financial Technologies closed at Rs 361.95, down Rs 2.75, or 0.75 percent. The 52-week high of the share was Rs 870.30 and the 52-week low was Rs 102.05.

The company's trailing 12-month (TTM) EPS was at Rs 50.03 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 7.23. The latest book value of the company is Rs 580.93 per share. At current value, the price-to-book value of the company is 0.62.

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JP Morgan trading revenues fall causing weaker profits

JPMorgan Chase & Co posted far weaker-than-expected quarterly profit as uncertainty about the US economy weighed on investor trading volumes and consumer borrowing.

Results from the first of the major Wall Street banks to post earnings underscore how difficult the first quarter was for the financial sector. JPMorgan's bond trading revenue plunged 21 percent, and mortgage lending revenue fell 84 percent from the same quarter last year.

Most of the bank's big businesses, including commercial lending and credit cards, delivered lower profits. But the bank is not responding by dialing up its risk-taking in commercial lending, and it views falling revenue in its bond trading business as part of a business cycle instead of a symptom of a broad-based and lasting decline in fixed-income trading.

"It's not like selling cereal - it's not like your volumes go up 2 percent every day," Chief Executive Jamie Dimon said to reporters on a conference call. The business will grow over the next decade or two, he added.

Also read:  Infosys Q4 earnings: 5 things that market is keen to know

Dimon, who earned plaudits for keeping his bank consistently profitable during the financial crisis, is struggling to figure out how to navigate the current environment.

In his annual letter to shareholders earlier this week, Dimon noted that JPMorgan will have spent more than USD 2 billion more than usual from 2012 through the end of this year on complying with new rules, and devoted more than 1 million work hours to meeting new mortgage rules. The bank's net income dropped 16 percent last year due to massive legal settlements and rising compliance costs.

Friday's results showed how the bank's troubles appear to be extending beyond outsized legal settlements and meeting new rules, and into areas more fundamental to the business, such as loan demand and trading volume.

Overall, net income fell 19 percent to USD 5.27 billion, or USD 1.28 per share, from USD 6.53 billion, or USD 1.59 per share, in the same quarter of 2013, the biggest US bank said on Friday.

Analysts on average had expected earnings of USD 1.40 per share, according to Thomson Reuters I/B/E/S.

Total net revenue fell 8.5 percent to USD 22.99 billion, falling well short of the average estimate of USD 24.53 billion.

JPMorgan shares, which recently topped USD 61 to trade at their highest level in 13 years, fell 3.1 percent to USD 55.63 in afternoon trading.

MORTGAGE LENDING FALLS

One area where the bank is meeting with some success is keeping costs under control, a crucial effort when future revenues may be weak. JPMorgan said non-interest expenses fell 5 percent in the latest quarter to USD 14.6 billion.

Dimon is aiming to hold down overhead - which he defines as non-interest expenses aside from litigation - to below an average of USD 14.75 billion per quarter, or USD 59 billion for the year.

Mortgage banking net income fell to USD 114 million in the quarter, a drop of USD 559 million from the year-earlier period. Production revenue, a measure of lending revenue, fell 84 percent to $161 million, and the bank made USD 17 billion of home loans, a 68 percent decline from a year earlier.

US mortgage lending has cooled after rising rates in the second half of last year have given fewer homeowners reason to refinance their loans.

Wells Fargo & Co, the biggest U.S. home lender, also reported results Friday and said its income from mortgage banking fell 46 percent from a year earlier.

For JPMorgan, rising bond yields in the middle of last year, which resulted from the Federal Reserve's decision to slow down its bond buying program, also weighed on fixed income, currency, and commodity trading revenue, which fell to USD 3.76 billion from USD 4.75 billion in the same quarter last year.

Commercial banking income fell 3 percent to USD 578 million, hurt by declining revenue from making loans. Consumer credit and debit card income fell 1 percent to USD 1.35 billion.

JPMorgan, the largest U.S. bank by assets, said total assets at the end of March stood at USD 2.48 trillion, up from USD 2.42 trillion at the end of December.

The firm's supplementary leverage ratio, a measure of a bank's capital compared with its assets, stood at 5.1 percent at the end of the quarter.

Leverage ratios took on added importance on Tuesday when the Federal Reserve approved new rules setting minimum levels that could force the eight biggest US banks to boost their capital by a total of USD 68 billion.

The rule sets a higher minimum of 6 percent for the company's insured bank subsidiary.

Before the rule was approved in its latest form, JPMorgan had said it was on track to raise its ratio from 4.6 percent at the end of December to the 5 percent minimum for its holding company by the end of this year.

LITIGATION EXPENSES "IMMATERIAL"

JPMorgan said its litigation expenses were immaterial in the latest quarter, under its "other corporate" accounting line.

Litigation expenses totaled USD 347 million in the year-earlier quarter and USD 847 million in the fourth-quarter.

In the first quarter two years ago, litigation costs totaled USD 2.5 billion as the bank built up reserves in anticipation of big legal settlements that it ultimately reached in 2013. JPMorgan paid more than USD 20 billion last year to resolve legal claims stemming from a wide range of problems, including its London Whale derivatives loss and its marketing of bad mortgage securities before the financial crisis.

JPMorgan's shares - which have nearly doubled in price since the bank was rocked in 2012 by its London Whale derivatives trading scandal and USD 6.2 billion loss - were trading at a multiple of 9.56 times estimated forward earnings on Thursday.

That compares with 9.93 times for Goldman Sachs Group Inc and 11.38 times for Morgan Stanley , both of which report next week.

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Infosys hunts for a new CEO

CNBC-TV18's Kritika Saxena reports with CEO SD Shibulal today announcing he wants to retire earlier than expected, it's not just the numbers that the street will be watching out for this time.

As is tradition,  Infosys will kick start earnings season next week with the tech major announcing its results on the April 15. However Kritika Saxena reports with CEO SD Shibulal today announcing he wants to retire earlier than expected, it's not just the numbers that the street will be watching out for this time.

Infosys stock price

On April 11, 2014, Infosys closed at Rs 3235.85, up Rs 29.25, or 0.91 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.

The company's trailing 12-month (TTM) EPS was at Rs 167.46 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 19.32. The latest book value of the company is Rs 627.95 per share. At current value, the price-to-book value of the company is 5.15.

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Sun to make Rs 18cr open offer to Zenotech shareholders

Through the open offer, Sun Pharma plans to acquire more than 96 lakh shares of Zenotech, amounting to 28.1 percent. The price would be Rs 19 per share translating to an aggregate of Rs 18.42 crore, according to regulatory filing by Zenotech.

Sun Pharma  will make an open offer worth Rs 18.4 crore to acquire a little over 28 percent stake in Zenotech Laboratories Ltd. The proposal comes in the wake of Sun Pharma's proposed USD 4-billion deal to merge  Ranbaxy Laboratories with itself as the latter holds significant stake in Zenotech.

Through the open offer, Sun Pharma plans to acquire more than 96 lakh shares of Zenotech, amounting to 28.1 percent. The price would be Rs 19 per share translating to an aggregate of Rs 18.42 crore, according to regulatory filing by Zenotech.

Zenotech shares today closed on BSE at Rs 22.20 a rise of 4.96 percent from its previous close. Ranbaxy held 46.79 percent stake in  Zenotech as on March
31.

"... the merger of Ranbaxy into Sun Pharma pursuant to the scheme will result in Sun Pharma indirectly acquiring 46.79 percent of the voting rights held by Ranbaxy in, and control over, the target company (Zenotech), although the acquisition of voting rights in or control over the target company is not the objective of the primary acquisition," the filing said.

The Sun Pharma-Ranbaxy deal is subject to various approvals including from their respective shareholders.

Sun Pharma stock price

On April 07, 2014, Sun Pharmaceutical Industries closed at Rs 587.25, up Rs 15.35, or 2.68 percent. The 52-week high of the share was Rs 653.10 and the 52-week low was Rs 423.18.

The company's trailing 12-month (TTM) EPS was at Rs 0.95 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 618.16. The latest book value of the company is Rs 41.64 per share. At current value, the price-to-book value of the company is 14.10.

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GMR Urban completes Chennai Outer Ring Road project Phase 1

The project is expected to add Rs 118 crore every year to the Group's cash flows for the next 17 and half years. It added almost Rs 95 crore to the revenue in the year ended on March 31, the release said.

GMR Urban Infrastructure & Highways today announced the completion of Phase 1 of Chennai Outer Ring Road project, which is expected to significantly ease traffic congestion along the western periphery of the capital city.

Commissioning of the project will significantly ease traffic congestion along Chennai's western periphery. The 30km ring road connects the northern and southern suburbs of Chennai and will be a catalyst for expansion of the city and help in growth of industrial hubs in this region via better connectivity, the GMR Group company said in a release.

The project is expected to add Rs 118 crore every year to the Group's cash flows for the next 17 and half years. It added almost Rs 95 crore to the revenue in the year ended on March 31, the release said.

Also Read: Debt burden hobbles Indian infra on road to recovery

Completed on design, build, finance, operate and transfer basis, the road venture connects Vandalur on NH-45 to Nemillicheri on NH-205 via Nazaratpet on NH-4. BVN Rao, Business Chairman, GMR Urban Infrastructure, said this was the Group's ninth highway project.

"Over the years we have developed significant expertise in design, construction and operation of highway projects. With growing urbanisation and more cities planning ring roads and peripheral roads to enable better connectivity, GMR Group is ideally placed to partner with state governments in similar projects," Rao said.

GMR had won the project through international competitive bidding.

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Ratnakar Bank gets Rs 328-cr infusion from global investors

Existing investors, including International Finance Corporation (IFC) and Gaja Capital, also participated in this round of capital infusion, the private lender said in a statement here.

Ratnakar Bank today said it has received Rs 328 crore in capital infusion from leading global
investors like CDC Group and Asia Capital & Advisors. Existing investors, including International Finance Corporation (IFC) and Gaja Capital, also participated in this round of capital infusion, the private lender said in a statement here.

The exercise was part of the bank's third round of financing which started three years ago. "These new funds will assist the bank in expanding its branch network in semi-urban and rural areas of as well as providing a suite of financial products and services to the unbanked sections of society," the statement said.

Also Read: RBI chief Rajan urges global crisis 'safety net'

Founded in 1943, the bank has its main markets in Maharashtra, Karnataka and Goa. The lender's current business size stood at over Rs 21,000 crore and it offers services to more than 5,00,000 customers. "IFC's repeat investment will assist Ratnakar in expanding its services to the under-served SMEs, helping increase access to finance," said Serge Devieux, IFC Director for South Asia.

Commenting on its investment, Srini Nagarajan of CDC said "we are strongly aligned with Ratnakar's strategy to expand and provide a range of financial services to customer segments that are under-served by the market. Our investment approach will complement their strong management team as they continue to implement the bank's growth strategy."

Francis Andrew Rozario of Asia Capital said, "We have been impressed by the track record of the management and staff of the bank and its achievements, which include successful transformation to their performance across all segments of the economy".

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Bajaj Allianz Life pays claims worth Rs 651 crore in FY14

The private insurer settled more than 1 lakh claims, both individual and group, paying out Rs 651 crore, during the just concluded fiscal, it said.

Bajaj Allianz Life Insurance today said it has settled more than 1 lakh claims during the last financial year and paid claims worth around Rs 651 crore.

"We focused on digitising the claim settlement process and started image-based documentation at various branch offices. This helped claimants get faster response," Bajaj Allianz Life Insurance Head (Claims) P Ravi Kutumbarao said in a release here. The private insurer settled more than 1 lakh claims, both individual and group, paying out Rs 651 crore, during the just concluded fiscal, it said.

The claim settlement ratio was 97.45 percent in FY14. About 77 percent claim proceeds were settled through electronic mode directly into the claimants' bank account. Claims arising out of natural calamities like the last year's floods in Uttarakhand and Himachal Pradesh were settled with minimum documents and in just two days of receiving the required documents, the release said. The company received a total of 35 claims (including accidental benefit cases) related to floods in Uttarakhand and Himachal Pradesh and paid more than Rs 73 lakh. The Pune-based company is a joint venture between between  Bajaj Finserv and German insurer Allianz SE.

Bajaj Finserv stock price

On April 09, 2014, Bajaj Finserv closed at Rs 782.65, up Rs 10.90, or 1.41 percent. The 52-week high of the share was Rs 810.00 and the 52-week low was Rs 563.30.

The company's trailing 12-month (TTM) EPS was at Rs 3.49 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 224.26. The latest book value of the company is Rs 151.30 per share. At current value, the price-to-book value of the company is 5.17.

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'Indian biz failed to grasp opportunity offered by China'

"Our countries have a great deal we can do together. Together we have the world's largest population and the world's largest economy," Tata said.

Indian businesses have failed to grasp many opportunities offered by Chinese market, Ratan Tata, former chairman of Tata Group, said today. Chinese and Indian markets had plenty of potential for cooperation, Tata said speaking at the ongoing Boao Forum for Asia Annual Conference 2014 in Hainan province.

Tata said China offered many opportunities for Indian businesses, but they failed to grasp them, Chinese state run Xinhua news agency reported. Chinese companies can also enter the Indian market and set up joint ventures there, he said.

Asked what he would like to say during a meeting with Chinese Premier Li Keqiang scheduled for tomorrow, Tata said he would talk about Sino-Indian economic cooperation. "Our countries have a great deal we can do together. Together we have the world's largest population and the world's largest economy," Tata said.

"We can create an economic superpower. ...If we can work together in a complementary, not combative manner, to enhance our economies on both sides, then there would be great opportunities for both sides. "Our Indian business communities would welcome this," he said.

Tata group has some major business ventures in China and TCS is the only Indian software firm which made inroads into local Chinese market.

Also Read: India, China to hold strategic dialogue on April 14

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Jaihind Projects gets order worth Rs 114.8 cr from IOC

Jaihind Projects, an engineering, procurement and construction turnkey company, has received order worth Rs 114.8 crore from Indian Oil Corporation (IOC).

Moneycontrol Bureau

Jaihind Projects , an engineering, procurement and construction turnkey company, has received order worth Rs 114.8 crore from  Indian Oil Corporation (IOC).

The order is for laying of mainline for Paradip-Haldia-Durgapur LPG pipeline project.

Jaihind Projects stock closed at Rs 18.15 on Monday, up 4.61 percent on the BSE.

Jaihind Project stock price

On April 07, 2014, Jaihind Projects closed at Rs 18.15, up Rs 0.80, or 4.61 percent. The 52-week high of the share was Rs 25.40 and the 52-week low was Rs 11.48.

The latest book value of the company is Rs 93.70 per share. At current value, the price-to-book value of the company was 0.19.

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Bayer, Natco spar at Bombay HC

Bayer argued that high costs of research could be recovered only through sale proceeds. It also alleged that Natco had not met the preconditions for compulsory licencing.

Staying with the Bombay High Court, foreign drug maker  Bayer and generics specialist  Natco Pharma sparred over the compulsory licencing issue in court on Tuesday.

Bayer argued that high costs of research could be recovered only through sale proceeds. It also alleged that Natco had not met the preconditions for compulsory licencing.

Bayer also contended no reasonable price for the sale of Nexavar had been specified. Bayer had moved the Bombay High Court, challenging The Intellectual Property Appellate Board's (IPAB)decision to grant Natco a compulsory licence to manufacture a generic version of the cancer drug Nexavar.

Natco Pharma stock price

On April 07, 2014, Natco Pharma closed at Rs 742.45, down Rs 6.5, or 0.87 percent. The 52-week high of the share was Rs 877.00 and the 52-week low was Rs 390.00.

The company's trailing 12-month (TTM) EPS was at Rs 28.47 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 26.08. The latest book value of the company is Rs 160.81 per share. At current value, the price-to-book value of the company is 4.62.

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Philips ventures into cost effective zone via new products

The company, which has already phased out its exposure to consumer electronics like television, is now sharpening its focus on three key areas: lighting, medical devices, and consumer lifestyle.

Global giant Philips is trying a new road in India. As intense competition heats up the consumer electronics space, the electronics major is now shifting gears and venturing into developing cost-effective products here in the country.

As it completes over 80 yrs in India, Dutch electronics giant Philips is now setting the agenda for its next leg of growth in the subcontinent. The company, which has already phased out its exposure to consumer electronics like television, is now sharpening its focus on three key areas: lighting, medical devices, and consumer lifestyle.

Philip's latest products in India include cutting edge healthcare innovations like pocket-sized ECG and ultrasound machines. These made-in-India products will be exported to other growth markets at a later stage.

Krishna Kumar Ananthasubramaniam, vice chairperson & managing director, Philips India, says, "All growth geographies face similar issues so most products developed in India if for India to start with but will be rolled out to the other geographies as well."

To keep these locally-relevant innovations affordable for emerging markets -Philips has turned to acquisitions having made atleast three strategic acquisitions in as many years.

Jim Andrew, Chief Strategy & Innovation Officer, Philips, says, "If we are going to be a success in India we have to be affordable; that's why we have made these acquisitions, we have localized."

Furthermore, in its innovation centre in Bangalore, Philips is concentrating on developing products which are energy savers as well, all to add to the affordability factor.

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Sahara withdraws proposal to pay Rs 2500 cr for Roy's bail

Roy and the other two directors of the Group have been in judicial custody since March 4 for not abiding by the apex court's order for depositing Rs 20,000 crore of investors money with SEBI.

Sahara group has withdrawn its proposal from the Supreme Court in which it had assured to pay Rs 2,500 crore immediately and rest Rs 2,500 crore in cash in three weeks for getting bail for its chief Subrata Roy and two directors. The Group had made the proposal on April 3 when it expressed its inability before the apex court to immediately pay Rs 10,000 crore for securing bail for Roy and its two directors who have been in jail since March 4.

It had, however, proposed to pay Rs 2,500 crore immediately and rest Rs 2,500 crore in cash within three weeks after the release of Roy and two directors, Ravi Shankar Dubey and Ashok Roy Choudhary. The apex court had earlier imposed a condition that Roy will be freed on bail only if he pays Rs 10,000 crore out of which Rs 5,000 crore has to be in bank guarantee and rest in cash.

Roy and the other two directors of the Group have been in judicial custody since March 4 for not abiding by the apex court's order for depositing Rs 20,000 crore of investors money with SEBI.

65-year-old Roy had earlier submitted that the apex court's order for detaining him for not paying Rs 20,000 of investors' money with SEBI was illegal and unconstitutional and sought quashing of the order. His counsel had said it was unconstitutional to send a man behind the bars for not paying the money and also questioned the order putting a condition of paying Rs 10,000 crore for getting interim bail.

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Bharti to raise USD 400 m in overseas debt shortly

Bankers expect the issue to go through by the end of this month or early next month, the source said, declining to give further details as the issue is still under the works.

As part of its USD 2 billion debt raising plan, India's largest telecom firm Bharti Airtel is
set to tap the overseas bond markets again with USD 400 million issue later this month to repay high cost loans.

"Bharti will be raising around USD 400 million in the next three-four weeks from an overseas offering," a merchant banker associated with the issue told PTI.

Bankers expect the issue to go through by the end of this month or early next month, the source said, declining to give further details as the issue is still under the works.

Recent media report said the New Delhi-headquartered Bharti is targeting to raise USD 2 billion through bond sales to refinance its existing debt and lowering finance costs.

Notably, the telecom major has been very busy on the international fund raising activity during the last fiscal. It had raised USD 400 million equivalent from the Swiss market
last month, after the 250-million euro issue in January and another 750-million euro issue in December. That apart, it has raised USD 1.5 billion in two tranches in March 2013.

The domestic companies overseas bond street journey was opened by Indian Railway Finance Corporation in early January with a USD 500 million issue, which got subscriptions of USD 3 billion and was priced at a coupon of 3.917 percent.

After a massive bond sale last year worth USD 16 billion, up 60 percent over 2012, the domestic companies have been going slow to tap international bond market following rising interest rates there.

Overseas fund raising ebbed after the May 24, 2013 tapering talk by the US Fed, which spiked interest rates in Western markets. Since then there were only a few issues
including HDFC Bank 's USD 500 million last year.

Bharti Airtel stock price

On April 04, 2014, Bharti Airtel closed at Rs 316.25, down Rs 5.6, or 1.74 percent. The 52-week high of the share was Rs 373.50 and the 52-week low was Rs 266.95.

The company's trailing 12-month (TTM) EPS was at Rs 14.07 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.48. The latest book value of the company is Rs 135.70 per share. At current value, the price-to-book value of the company is 2.33.

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