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Mahindra Mahindra sales down 4.12% in July

Written By komp limpulima on Jumat, 01 Agustus 2014 | 21.03

Sales of passenger vehicles, including Scorpio, XUV 5OO, Xylo, Bolero and Verito, stood at 14,708 units compared with 15,530 units in July 2013, down 5.29 percent.

Automaker major  Mahindra & Mahindra today reported 4.12 per cent decline in total sales at 35,567 units in July. Mahindra & Mahindra (M&M) had sold 37,096 units in the same month last year, the company said in a statement. M&M's domestic sales went down by 4.18 percent to 33,047 units last month as against 34,490 units a year earlier.

Sales of passenger vehicles, including Scorpio, XUV 5OO, Xylo, Bolero and Verito, stood at 14,708 units compared with 15,530 units in July 2013, down 5.29 percent. Four-wheel commercial vehicle sales declined by 9.22 percent to 12,472 units in July 2014 as against 13,740 units in the year-ago month, it said.

Exports went down by 3.30 per cent to 2,520 units from 2,606 units in the same period a year earlier. M&M Chief Executive (Automotive Division) Pravin Shah said: "The overall sales during the last month was subdued and the market remained challenging. With the monsoon now setting in across the country as well as the ensuing festival season, we expect positive sentiments in the coming months resulting in enhanced demand for our products."

Also Read: Maruti reports 21.7% increase in total sales for July'14

M&M stock price

On August 01, 2014, Mahindra and Mahindra closed at Rs 1171.70, down Rs 32.2, or 2.67 percent. The 52-week high of the share was Rs 1268.75 and the 52-week low was Rs 741.50.


The company's trailing 12-month (TTM) EPS was at Rs 61.02 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 19.2. The latest book value of the company is Rs 272.84 per share. At current value, the price-to-book value of the company is 4.29.


21.03 | 0 komentar | Read More

Ashok Leyland July sales down 10% at 7,847 units

Hinduja Group flagship company  Ashok Leyland today reported a 10.27 percent decline in its total sales at 7,847 units in July. The company had sold 8,746 units during the same month of previous year, Ashok Leyland said in a statement.

Sales of medium and heavy commercial vehicle in July were down by 8.45 percent to 5,736 units from 6,266 units sold during the same month of previous year.

Sales of light commercial vehicles in July, 2014 declined by 14.87 percent to 2,111 units from 2,480 units sold in the same month of previous year.

Also Read Mahindra & Mahindra sales down 4.12% in July

Ashok Leyland stock price

On August 01, 2014, Ashok Leyland closed at Rs 33.95, down Rs 0.15, or 0.44 percent. The 52-week high of the share was Rs 39.00 and the 52-week low was Rs 11.82.


The company's trailing 12-month (TTM) EPS was at Rs 0.43 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 78.95. The latest book value of the company is Rs 15.69 per share. At current value, the price-to-book value of the company is 2.16.


21.03 | 0 komentar | Read More

Tata Motors sales down 27%

Its exports in July grew by 2 percent to 4,367 units compared to 4,277 units in June last year.

Tata Motors  has reported 26.93 percent decline in total sales last month at 1,49,597 units, as against 2,04,744 units in July 2013.

The company's domestic sales of commercial and passenger vehicles during the month declined by 23.13 percent to 39,623 units, as against 51,549 units in July last year.

Passenger vehicles sales were lower by 15.30 percent at 9,167 units compared with 10,824 units a year ago.

Commercial vehicles sales in the domestic market stood at 26,089 units as against 36,448 units, down 28.42 percent, the company said in BSE filing.

Its exports in July grew by 2 percent to 4,367 units compared to 4,277 units in June last year.

Tata Motors stock price

On July 28, 2014, Tata Motors closed at Rs 453.15, down Rs 8.75, or 1.89 percent. The 52-week high of the share was Rs 488.05 and the 52-week low was Rs 272.50.


The company's trailing 12-month (TTM) EPS was at Rs 1.04 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 435.72. The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company is 7.61.


21.03 | 0 komentar | Read More

Sikka focuses on bettering Infy's biz, restoring confidence

Infosys  has a new man at the helm and all eyes are on him to see which direction he steers the company in. Speaking to CNBC-TV18's Shereen Bhan, newly appointed CEO Vishal Sikka today said he is keen to carry on the values that Infosys is built on, but a great opportunity to transform the existing legacy system beckons.

Sikka says top on his agenda is not just improving the existing business, but also innovation with focus on on intellectual property, products and platforms.

He aims to position Infosys as a global company with an Indian soul and is upbeat on taking the company back to its glory days.

He admits that Infosys faces confidence issues and he is burdened by the weight of expectations, however, Sikka believes that Infosys is fundamentally strong and restoring confidence will be is priority number one.

Sikka, the first non-founder and outsider to lead the IT giant, said that the company is looking to work with startups in a big way and will put USD 100 million fund to good use by investing in them. 

Also Read: Why Vishal Sikka wants to make Infosys more process-driven

Below is the verbatim transcript of Vishal Sikka's interview with CNBC-TV18's Shereen Bhan.

Q: Tell me your prognosis of what ails Infosys today, I know you haven't gone into the details of Infosys 3.0 and what works about it or what doesn't, but what to your mind are the key three problems facing Infosys today?

A: When I look at the world around the opportunities that are there for software are truly great, next generation, amazing, innovative software. Those are amazing, I am very excited about that and also the opportunities from the traditional business that we are in. So the outside opportunity is there. Then when I look at the capabilities within the company what I have seen in the last several week I am very confident in this extraordinary talent that we have as well as the culture of learning. So per se based on the basic fundamental opportunity is there and that gives me a great sense of confidence and excitement.

Having said that there have been things that have been happening here in the recent past and around attrition and around what you could call an issue with confidence. So one of the key things that I see is the opportunity to restore confidence to inspire the teams and then everything else follows from there.

Q: It might be an unfair comparison but just like Prime Minister Narendra Modi and the hope and the expectations is that he is going to wave this magic wand and turn things around as far as the Indian economy is concerned, you are burdened with similar expectations that a quarter down the line Infosys should have a completely different outlook, what would you tell investors?

A: I am flattered by the comparison. Mr Modi is an incredible leader, he is from Baroda and I am from Baroda.

Q: But it is the same burden of expectation?

A: Yeah, I do feel the burden of expectations, but if you think about the business there are inherent latencies in the business that actions that we take now no matter how great and amazing the action they take a long time to surface themselves.

Q: So what would be a fair time period by when you think you could begin to start seeing a turnaround or whatever ideas you have for Infosys that you intend putting in place?

A: The important thing is for us to look at the journey that Infosys is on as the three year transformation journey that Mr Murthy started last year and my coming here and the new team being here is a part of that. He had said that he wants to get the succession done and so on. That was about an year ago. So we are one year into the three year transformation.

Q: So you intend taking that forward and what is going to be the big driver in terms of ideology and philosophy, because one of the criticisms of Infosys has been that you went after higher margins and you gave up market share, you went after profitability and you gave up revenues. But if you look at your margin picture the gap between you and your competitors have widened significantly, so even the margin argument there doesn't hold as far as Infosys is concerned?

A: You can see in our Q1 we started to show improvements in the fundamentals of the business. So the fundamentals are there, they are strong. We showed improvements in margin over the last year and many steps were taken by Mr Murthy and Kris and Shibu to address those.

Q: But do you believe that you can close the gap between TCS for instance?

A: I don't see it that way. I don't see us comparing ourselves to others in the industry, but rather to our aspirations and how well can we serve the opportunities that are out there in the market. I believe that the opportunities are vast and if we serve them, if we organise ourselves to serve those opportunities then we will once again be the bellwether of the industry as we used to be in the past. I have no doubt about that.


21.03 | 0 komentar | Read More

Turnaround for vehicle-financing biz sometime away: Chola

In an interview with CNBC-TV18's Reema Tendulkar and Nigel D'Souza,  Cholamandalam Investment MD Vellayan Subbiah said a turnaround for its vehicle financing segment was still some time away.

"We still see viability issues for truck operators in the field, payment cycles are getting stretched, utilisation is still not significantly up especially when the light commercial vehicles, small commercial vehicles," he said.

Also read: Home equity loan biz to see more growth: Cholamandalam

"Therefore, our belief is that it is beginning to bottom out but it is going to take a little while here before it starts to get any better."

Below is the edited transcript of the interview with CNBC-TV18.

Nigel: Your asset quality deterioration didn't look too good. Take us through the details?

A: In terms of asset quality overall, non-performing assets (NPAs) continue to remain high. We saw that even two-three months ago where we said that we do not see any real improvement in the market in terms of viability for the truck operators and this has been totally isolated to our vehicle finance business.

Our home equity business continues to perform quite strongly but on the vehicle finance side, we still see viability issues for truck operators in the field, payment cycles are getting stretched, utilisation is still not significantly up especially when the light commercial vehicles, small commercial vehicles.

Therefore, our belief is that it is beginning to bottom out but it is going to take a little while here before it starts to get any better.

Reema: Give us some metrics for vehicle financing: that is where the pressure is, perhaps in asset quality. Only for vehicle finance can you give us some numbers? How much it has deteriorated, by what percentage point, how much is the disbursement mean, give us some numbers particularly for vehicle financing and how much worse can it get from hereon?

A: Just to give you a sense when we were at our best performance about two years ago, net credit losses of vehicle finance was in the order of about 0.5 percent. Right now, we are doing close to about 1.7 percent. So that is the level of deterioration. It is basically 1.2 percent on percentage terms of our average asset book that this book has deteriorated.

So are things going to get better, I would think so but this is as significant a deterioration that we would have predicted. So 1.7 to 1.9 is what we think is going to be the bottom and I think that is where we are at right now.

In terms of disbursement, we have taken a slightly more cautious stand given that we have not seen the collection side pick up and disbursements have de-grown by about 10 percent in the vehicle finance book quarter-versus-quarter.

Nigel: What about your NIMs, what did they come out at? We don't have that figure with us.

A: NIMs are more or less staying the same. There are a couple of things that are going to help in the medium-term -- so we are not seeing yields drop in the market.

That is a good sign, our belief is the cost of funds are going to come off as we look at the next three quarters here. So we are going to see a reduction in cost of funds.

We look at it from a NIM perspective before losses. The NIMs are basically going to remain strong and probably improve. So NIMs will improve but the challenge is basically on credit losses.

Nigel: So the NIMs will improve to around 8 percent you believe?

A: I think we would go up by between 0.5 and 1 percentage point is what I believe the improvement in NIMs can be. Obviously a lot of that is coming from the cost of fund decrease so we have to see how fast that is going to come off -- most predictions are that base ratess are going to remain at the same level but we are seeing more softness when we look at what is happening on the other sides for funding.

Cholamandalam stock price

On August 01, 2014, Cholamandalam Investment and Finance Company closed at Rs 407.75, down Rs 8.55, or 2.05 percent. The 52-week high of the share was Rs 459.75 and the 52-week low was Rs 205.00.


The company's trailing 12-month (TTM) EPS was at Rs 25.38 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.07. The latest book value of the company is Rs 160.00 per share. At current value, the price-to-book value of the company is 2.55.


21.03 | 0 komentar | Read More

Gulf Oil's RoE to be 30-35%: PBT to touch Rs 140cr in FY15

Written By komp limpulima on Kamis, 31 Juli 2014 | 21.03

The Hinduja Group-owned Gulf Oil Corporation  on Thursday demerged its lubricants business to Gulf Oil Lubricants India Ltd and listed the latter as a separate entity on both domestic stock exchanges under the 'Gulf Oil' brand.

Sanjay Hinduja, Chairman of Gulf Oil Lubricants India is confident of the company's profit before tax (PBT) to grow significantly and touch Rs 140 crore in the coming fiscal itself.

In addition, EBIDTA margin is anticipated to improve substantially coupled with a double-digit topline growth, he says in an interview with CNBC-TV18 adding that Gulf Oil's return on equity (RoE) will advance to 30-35 percent.

Below is the edited transcript of the interview:

Q: Can you take us through the financials of the company in terms of projection for the current financial year and next financial year?

A: In terms of PBT, last year we closed around Rs 103 crore and this year expectation is to do significantly better than that and it terms of EBITDA Margins we are around 12 percent. I am expecting double-digit topline growth, both this year and going forward '15-16. We are in a growth pattern at the moment and all investments have been made for capturing this double digit growth.

Q: Can you focus a bit on your profits and what are the projections at least that you are working with in the foreseeable future?

A: Profit after tax (PAT) level we would be around Rs 70 crore plus and again the plan is to deliver significant value to the shareholders so PAT also will continue to grow northwards as we deliver double digit revenue growth.

Q: In that case, can you tell us if you would see some improvement in your return on assets and return on equity going forward?

A: Definitely, yes and this is one of the reasons we went ahead with this whole demerger process and we have been looking at this for the last one year and we can achieve those numbers. Of course on the other side, as you know on the real estate side also work has commenced on the Bangalore project. So I am expecting also on the Gulf Oil Corporation Limited side with the land projects now beginning to deliver revenue, I am sure both stocks will perform very well.

Q: Market share for lubricant side is around 5 percent. Where will the growth come from and what is the expected market share as well?

A: We are going to focus more on B2B tractor. We are going to be announcing in the next two weeks and other major OE tie-up. So, in terms of volumes, as I have mentioned before, the goal is to be the top three amongst the private sector players.

Q: Going back to number projection, for full year '15 can we expect a profit of Rs 100 crore or so?

A: On the PBT side right now, we are definitely looking at FY15 in excess of Rs 140 crore. So we are there near about I would say.

Q: And capex?

A: Yes we have acquired land in Chennai and we are going ahead with a second plant in Chennai, and I am expecting that will cost around Rs 120-130 crore and debottlenecking is happening in the existing plant in Silvassa which is Rs 30-40 crore.

Q: What about the promoter stake, are promoters looking to increase stake in the company going forward?

A: The promoter group GOI already has 60 percent, so we are well over 50 percent minimum. Therefore, we have no such plans for the moment.

Gulf Oil Corp stock price

On July 31, 2014, Gulf Oil Corporation closed at Rs 154.45, down Rs 6.8, or 4.22 percent. The 52-week high of the share was Rs 197.00 and the 52-week low was Rs 62.10.


The company's trailing 12-month (TTM) EPS was at Rs 11.77 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 13.12. The latest book value of the company is Rs 232.56 per share. At current value, the price-to-book value of the company is 0.66.


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Cipla, BioQuiddity ink pact to sell pain management product

The pact between Cipla Europe (CE) NV, the company's wholly owned arm, and BioQuiddity Inc will cover countries in Europe, the company said in a statement.

Pharmaceutical firm Cipla  today announced a partnership with US-based BioQuiddity Inc for collaboration to sell the latter's post-surgical pain management product OneDose ReadyfusORTM in Europe.

The pact between Cipla Europe (CE) NV, the company's wholly owned arm, and BioQuiddity Inc will cover countries in Europe, the company said in a statement.

The Indian firm intends to launch the CE marked OneDose ReadyfusOR pre-filled with Ropivacaine under its own label into the German market late this year, it added.

"Cipla believes that this post-surgical pain product candidate presents a unique opportunity to provide an easy to use, well-tolerated, and efficient regional anesthesia system that could make savings for healthcare providers and patients," Cipla Europe Head Frank Pieters said.

BioQuiddity President and CEO Joshua Kriesel said: "Cipla's strong commercial record puts them in an outstanding position to detail the OneDose ReadyfusOR's safety, sterility, and ease of use value proposition objectives.

Also read:  FDA raises concern over drug production process at Cadila

Cipla stock price

On July 31, 2014, Cipla closed at Rs 456.30, up Rs 8.60, or 1.92 percent. The 52-week high of the share was Rs 462.65 and the 52-week low was Rs 366.70.


The company's trailing 12-month (TTM) EPS was at Rs 17.29 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 26.39. The latest book value of the company is Rs 127.76 per share. At current value, the price-to-book value of the company is 3.57.


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IOB to raise $500 million through overseas bond sale

State-owned lender Indian Overseas Bank (IOB) announced here today that it plans to raise USD 500 million through a medium-term bond sale shortly. The bank has already received approval to raise up to USD 1 billion from its board.

State-owned lender  Indian Overseas Bank (IOB) announced here today that it plans to raise USD 500 million through a medium-term bond sale shortly. The bank has already received approval to raise up to USD 1 billion from its board.

"Currently, the market is very right. So, when we see good appetite from corporates, we will raise USD 500 million out of our medium term note programme," Indian Overseas Bank's outgoing Chairman and Managing Director M Narendra, who retires tomorrow, told reporters here.

He said that the bank would require Rs 3,500 crore as fresh capital during the current fiscal.

Also read: Indian Overseas Bank Q1 net zooms over 2-fold to Rs 271cr

"We have asked some amount from the government also. Last year, we got Rs 1,200 crore from the government and we hope this year we get a similar amount," Narendra said.

The bank also plans to raise some funds through Qualified Institutional Placement, but its timing and amount would be decided after government and Reserve Bank approvals.

In the quarter ended June, the bank's net profit more than doubled to Rs 271.72 crore from Rs 125.80 crore. Total income was tad up at Rs 6,284.69 crore compared to Rs 6,187.15 crore in the year-ago quarter.

Gross NPAs stood at 5.84 percent as against 4.45 percent, while net NPA increased to 3.85 percent from 2.81 percent in the year-ago period. Provision coverage ratio as on June 30 stood at 52.85 percent.

IOB stock price

On July 31, 2014, Indian Overseas Bank closed at Rs 70.10, down Rs 0.8, or 1.13 percent. The 52-week high of the share was Rs 89.90 and the 52-week low was Rs 37.15.


The company's trailing 12-month (TTM) EPS was at Rs 6.05 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 11.59. The latest book value of the company is Rs 130.90 per share. At current value, the price-to-book value of the company is 0.54.


21.03 | 0 komentar | Read More

FDA raises concern over drug production process at Cadila

The FDA has not expressed concerns over the entire facility, said the sources. The US agency communicated its concern to Cadila in a Form 483, a letter in which the agency typically outlines violations of standard manufacturing practices.

The US Food and Drug Administration (FDA) has expressed concerns over the manufacturing process of at least one product at drugmaker Cadila Healthcare Ltd 's Moraiya facility, two sources with direct knowledge of the matter said.

The FDA has not expressed concerns over the entire facility, said the sources. The US agency communicated its concern to Cadila in a Form 483, a letter in which the agency typically outlines violations of standard manufacturing practices.

Once the Form 483 is sent, the company has 15 days to respond before the FDA takes any further action.

The FDA inspected the Moraiya plant, based in Gujarat, in the second week of July, one of the sources said.

The sources declined to be named as the information is not public yet. A Cadila spokeswoman declined to comment.

Cadila's shares dropped as much as 10.5 percent on Thursday and were trading down 5.3 percent to 1,106.50 rupees at 1:01 p.m., while the broader Nifty was down 0.22 percent.

Also read:  Cadila Health Q1 profit up 23% to Rs 240 cr led by US sales

Cadila Health stock price

On July 28, 2014, Cadila Healthcare closed at Rs 1129.10, up Rs 6.40, or 0.57 percent. The 52-week high of the share was Rs 1188.00 and the 52-week low was Rs 631.00.


The company's trailing 12-month (TTM) EPS was at Rs 43.13 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 26.18. The latest book value of the company is Rs 177.28 per share. At current value, the price-to-book value of the company is 6.37.


21.03 | 0 komentar | Read More

JSW Steel to increase capacity to 40 mn tonnes by 2025

Steel major JSW Steel  today said it has prepared a blue print to increase overall steel capacity to 40 million tonnes per annum by 2025 in order to retain market share of 13-14 percent.

The company has installed capacity of 14.3 million tonnes. "In order to retain market share of 13-14 per cent, the company has prepared a blue print to increase overall steel capacity to 40 million tonnes per annum by 2025, which will entail a capital outlay in the range of USD 22 billion over the next decade," JSW Steel Chairman Sajjan Jindal told shareholders at the company's 20th annual general meeting here.

Acknowledging the country's enormous potential for steel consumption, the Government of India has set a target of 300 million tonne capacity by 2025 from the current level of around 105 million tonnes. This would require huge investments to the tune of USD 200 billion within a span of around one decade, he said.

"I believe that India's steel industry is fully equipped to meet this challenge, duly supported by proactive policy reforms and forward-looking initiatives by the Government," Jindal said.

India has several competitive advantages like abundant reserves of iron ore, coal, a growing pool of technical talent and a huge market. It is high time India started leveraging its indigenous resources to emerge as the world's leading exporter of manufactured commodities and products, rather than being an importer, the chairman said.

Despite India being endowed with high quality iron ore resources, we have now resorted to importing iron ore. Additionally, as other nations restrict exports of valuable natural resources, India continues to export iron ore, he said.

Policies addressing these issues will go a long way in protecting and augmenting the capabilities of the Indian steel industry. A transparent process of allocating natural resources through auctions is a necessity and the government must seriously consider and implement such measures, he said.

JSW Steel remain committed to the planned Greenfield projects in West Bengal and Jharkhand, committing additional capital to these projects is limited to securing raw material linkages as it is fundamental to achieve financial closure.

"During the FY 14, despite sluggish domestic demand, constrained iron ore availability and higher procurement costs, not only we improved margins from 17.8 to 19.4 percent but our overall market share too rose to 13.2 percent," he said.

JSW Steel stock price

On July 28, 2014, JSW Steel closed at Rs 1191.75, up Rs 13.30, or 1.13 percent. The 52-week high of the share was Rs 1317.00 and the 52-week low was Rs 451.50.


The company's trailing 12-month (TTM) EPS was at Rs 55.21 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 21.59. The latest book value of the company is Rs 970.48 per share. At current value, the price-to-book value of the company is 1.23.


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