APTEL upholds users' interest in switching to Tata Power

The APTEL today observed that though it has not laid distribution network for supplying power to residential consumers of RInfra, Tata Power has not resorted to cherry picking, the Tata Group company said attributing the information to the order passed by the tribunal, which is yet to be uploaded on its website.

Contrary to allegations of  RInfra that its rival  Tata Power has resorted to cherry-picking of high-end consumers under open access system, the Appellate Tribunal for Electricity (APTEL) said that switching over of consumers to a Tata Group company from the former's network is in the interest of customers.

The APTEL today observed that though it has not laid distribution network for supplying power to residential consumers of RInfra, Tata Power has not resorted to cherry picking, the Tata Group company said attributing the information to the order passed by the tribunal, which is yet to be uploaded on its website. "It is correct that Tata Power has not laid low-tension network to switch-over consumers over the residential consumers who were availing supply from Tata Power on RInfra's network and who were in the vicinity of the network laid down by Tata Power. This could not be termed as cherry-picking as it had been done in the interest of the consumers and is also in line with the decision of the Maharashtra Electricity Regulatory Commission (MERC)," the APTEL order said.

Therefore, it is in the interest of consumers of both the utilities that they continue to get supply from Tata Power on RInfra's network even if a 33/22 kV sub-station of the former is available in the vicinity, the tribunal said. "It will also be convenient and economical for the consumers to changeover back to RInfra in case its tariff becomes more attractive in future," the APTEL noted.

Commenting on the ruling, RInfra spokesperson said, "The recent judgments of APTEL upholds our stance to protect low-end consumers. The tribunal has also confirmed that high-end consumers supplied by Tata Power need to pay cross subsidy surcharge and regulatory assets which would create level-playing field and protect the interest of low-end consumers. "The tribunal has also restrained the Tatas from laying network. This will protect interest of 23 lakh low-end consumers in suburbs of Mumbai," RInfra said.

Reliance Infra stock price

On November 28, 2014, Reliance Infrastructure closed at Rs 607.45, up Rs 9.55, or 1.60 percent. The 52-week high of the share was Rs 820.00 and the 52-week low was Rs 350.85.

The company's trailing 12-month (TTM) EPS was at Rs 58.76 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 10.34. The latest book value of the company is Rs 809.64 per share. At current value, the price-to-book value of the company is 0.75.

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Voda moves court against DoT

Court has issued a notice to the Department of Telecommunications. Vodafone's licence expires in December next year.

Vodafone on Friday moved the court against the telecom department's decision to "not" extend its licence in six circles.

Court has issued a notice to the Department of Telecommunications, or DoT. Vodafone's licence expires in December next year.

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Foreign telcos may not benefit much from payment bank rules

Rules prohibit foreign players from applying for a license as standalone entities. So these players will need an Indian JV partner who holds at least a 24 percent stake in the venture to be eligible.

The final payment bank guidelines released by the RBI make it easier for telecom companies to apply for, and get, a license. And given the advantages of such a move, experts say firms will be lining up with applications. But CNBC-TV18's Malvika Jain and Kritika Saxena report that the journey will be far from easy, especially for foreign telecom players.

In an era of number portability, stiff competition and fairly impatient customers, the guidelines for payment banks released by the RBI come as a bit of a relief, and an opportunity for telecom companies. A payment bank license will boost the services offered by mobile operators, making the customer's decision to move on just a little bit tougher. They will also allow companies to better leverage their network, and earn fee income on remittance and payment products, card services, and third-party product distribution, to name a few. That alone could see these companies lining up for a licence.

Rajan S Mathews, director general, COAI, says: "Guidelines are a positive. Telcos will apply. There are a few glitches which we feel can be fixed."

However, the rules give domestic players like  Idea and  Bharti Airtel an edge over foreign players like Vodafone and Telenor.

That's because they prohibit foreign players from applying for a license as standalone entities. So these players will need an Indian JV partner who holds at least a 24 percent stake in the venture to be eligible.

Mathews adds: "FDI not being permitted will be an issue. Vodafone and Telenor are keen to apply but they are both 100% FDI owned. This will be an issue."

A restrictive FDI policy may not be the only deterrent though.

Brokerage firm Crisil points out that even domestic telecom players will not see payment banking operations add significantly to revenues. It says that even five years after launch, the contribution of payment banks to overall revenues is likely to remain at less than 1 percent. Also, while telecom operators are likely to capture around 15 percent of the domestic remittances market by then, luring deposits is a completely different ball game requiring heavy investment in building a brand and securing the trust of the depositors.

So unless a telecom player is focussed more on long-term benefits, many may hold out looking for any sweeteners that may come their way.

Idea Cellular stock price

On November 28, 2014, Idea Cellular closed at Rs 159.30, down Rs 5.5, or 3.34 percent. The 52-week high of the share was Rs 183.65 and the 52-week low was Rs 125.10.

The company's trailing 12-month (TTM) EPS was at Rs 6.13 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 25.99. The latest book value of the company is Rs 44.10 per share. At current value, the price-to-book value of the company is 3.61.

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Rs 100cr sales target by 2017 for Caprese: VIP Industries

CNBC-TV18's Pavni Mittal caught up exclusively with company MD Radhika Piramal to understand how she plans to achieve that target.

VIP Industries ' 2-year old ladies' handbag brand Caprese recently launched its biggest marketing campaign in order to position itself as an accessible brand in the Rs 2,500 crore market and reach the 100 crore mark in sales by 2017.

CNBC-TV18's Pavni Mittal caught up exclusively with company MD Radhika Piramal to understand how she plans to achieve that target.

Below is the edited transcript of the interview:

Q: Why did VIP enter the ladies' handbag segment and what was the need?

A: My father and I have always realised a large potential in the ladies handbag market. It is much bigger in size than luggage. What we saw was that there are very few niche, high priced, foreign and international brands in the country and then a lot of local and unbranded handbags. There is no mid-priced, great quality, high style yet affordable ladies' handbag in the market and we wanted to create that. That is a big market for it.

Q: You said that you expect to become Rs 100 crore brand by 2017. So, how much of that has been achieved and what is your roadmap?

A: We are on track for Rs 100 crore for 2017. It has been a great launch. In the first year, we started small and in the second year, we doubled that turnover. I am confident to grow about 50 percent in the next year especially with the kind of brand investment that we have made. Our goal is that one in five women in SEC A&B should be carrying a Caprese bag.

Q: 50 percent of your business comes from your luggage business and the aim was to at least try and match that in the couple of years by Caprese. So, how much of that has been achieved and how much of that will be achieved in the next couple of years?

A: VIP brand within luggage is 50 percent of our company's turnover. So VIP is a Rs 500 crore brand. Now, reaching Rs 500 crore for Caprese might take a bit longer than expected because I realised that it is hard to change consumer behaviour. So moving from unbranded to branded it is every marketer's goal in India practically. So, yes, maybe it is a 10-year journey rather than a five-year journey but one I am very excited to embark on.

Q: But that is an aim?

A: Absolutely, yes.

VIP Industries stock price

On November 28, 2014, VIP Industries closed at Rs 107.60, up Rs 3.90, or 3.76 percent. The 52-week high of the share was Rs 125.80 and the 52-week low was Rs 54.95.

The company's trailing 12-month (TTM) EPS was at Rs 4.36 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 24.68. The latest book value of the company is Rs 20.34 per share. At current value, the price-to-book value of the company is 5.29.

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Toyota recalls 5,834 Corolla Altis diesel models in India

When it comes to marques that have been issuing recalls in India, Toyota tops the list. The manufacturer, a few weeks back recalled the Camry model and is now bringing the Corolla Altis diesel variants back to the workshops.

When it comes to marques that have been issuing recalls in India, Toyota tops the list. The manufacturer, a few weeks back recalled the Camry model and is now bringing the Corolla Altis diesel variants back to the workshops.

5,834 cars are being recalled for replacing a component which fails to prevent oil from entering the air intake system. Vehicles manufactured between June 15, 2010 and May 23, 2011 are the ones affected by this recall.

Owners of the possibly affected vehicles will be contacted through a letter or a call from authorised dealers and asked to bring their cars to the workshop. Repairs for the aforementioned issue will be done free of cost.

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iYogi: Online subscription-based technical support service

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Watch video for more…

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TRAI sets Nov 29 as deadline for porting out Loop customers

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

Telecom regulator TRAI has fixed midnight of November 29 as deadline for subscribers of Loop Mobile to shift to other networks while retaining their numbers by using the MNP facility.

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

The Telecom Regulatory Authority of India today directed Mobile Number Portability service provider "not to process the request for porting in respect of mobile telephone numbers belonging to Loop Mobile...as donor operator after 23:59:59 hours of 29th November".

It has also agreed to the demand of Loop Mobile of providing with bulk MNP codes to transfer its over 10 lakh customer base in Delhi before its licence expires on November 29. TRAI has allowed Loop Mobile to use an additional service provider code 'F' in addition to its existing code 'L' to enable it to generate more than 5 lakh codes at a time.

Telecom major Bharti Airtel  this week called off the deal to acquire business and assets of Mumbai-based Loop Mobile including subscribers for about Rs 700 crore, pending clearances by the Department of Telecom.

DoT estimates that Loop Mobile and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and other charges to the government.

Bharti Airtel stock price

On November 07, 2014, Bharti Airtel closed at Rs 390.50, up Rs 5.20, or 1.35 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.

The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.25. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.34.

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Jet Airways board approves raising up to $300 m via NCDs

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

The board of Jet Airways  has given its nod to raise long-term finance of up to USD 300 million via redeemable preferential shares or non-convertible debentures (NCDs). The fundraising will be its largest after Etihad's USD 330-million investment in the airline.

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

Meanwhile, the airline has reported its first quarterly profit since 2012 on Friday, thanks to the sale of its frequent flyer business, but the airline continued to lose money once one-off gains were excluded.

Jet, which has struggled to make money amid fierce competition for fares and high operating costs, said net profit totalled Rs 69.8 crore in the three months to September 30 after it banked a Rs 305 crore gain from the sale of its Jet Privilege frequent flyer programme.

Excluding the sale, Jet, which is targeting a return to profitability by 2017, lost Rs 235 crore in the quarter, less than the Rs 833 crore it reported a year earlier after operating income rose and fuel costs fell.

Jet Airways stock price

On November 07, 2014, Jet Airways closed at Rs 251.45, up Rs 7.35, or 3.01 percent. The 52-week high of the share was Rs 354.40 and the 52-week low was Rs 203.50.

The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.28.

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Exchanges to suspend trading in Kingfisher, UB Engineering

In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE today announced suspension of trading in shares of Kingfisher Airlines  and another group firm, UB Engineering , from next month.

Besides, the entire promoter shareholding of these companies have been frozen with effect from today itself. The action follows non-compliance to a Listing Agreement clause relating to timely preparation and disclosure of financial results by a listed company for two consecutive quarters. The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.

In separate circulars, BSE and NSE said that the trading would be suspended in securities of Kingfisher and UB Engineering -- both parts of crisis-hit UB group headed by Vijay Mallya -- with effect from December 1.

The suspension follows Sebi guidelines with respect to Standard Operating Procedure (SOP) for suspension and revocation of trading of shares of listed entities for non-compliance of the Listing Agreement that a listed company needs to follow pursuant to its shares getting listed and traded on a stock exchange.

Shares of Kingfisher, once touted as most luxurious airline in India, are currently trading below Rs 2 apiece and its market capitalisation now stands at just about Rs 150 crore. At one point of time, before financial troubles began and led to its grounding in October 2012, the company carried a market valuation of close to Rs 10,000 crore.

For the year ended March 2013, the carrier saw its net loss widen to Rs 4,301.12 crore. During that period, the gross income stood at Rs 683.46 crore. A consortium of 17 banks has an outstanding debt of about Rs 6,521 crore from the now-grounded carrier and outside the consortium, there are some other loans also.

In Kingfisher, promoters have just 8.54 percent stake, while public holding stands very high at 91.46 percent. The non-promoter shareholders include more than two lakh small investors, over 6,000 HNIs, over 2000 NRIs and 13 FIIs, among others.

Along with Kingfisher and UB Engineering, NSE has also announced trading suspension for securities of Varun Industries Limited on account of non-compliance with Clause 41 of the Listing Agreement for two consecutive quarters, that is quarter ended March, 2014 and June, 2014.

"Accordingly, the entire promoter shareholding of Varun Industries Limited, UB Engineering Limited and Kingfisher Airlines Limited shall be freezed with effect from November 7, 2014 till further notice."

"In case, Varun Industries, UB Engineering and Kingfisher Airlines complies with respective requirement/s including payment of fines on or before November 25, 2014 (five days before the proposed date of suspension), the trading in securities of the said companies will not be suspended," NSE said.

In UB Engineering, which has a market cap of about Rs 14 crore, public holds 59.26 percent stake while promoter group controls 40.74 percent.

In case these companies fail to comply with the provisions of the Listing Agreement on or before November 25, 2014, then trading in their shares would be suspended from December 1 and the suspension will continue till such time the company complies including the payment of fine.

After 15 days of suspension, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in on the first trading day of every week for six months, NSE said. BSE has taken similar action against 21 companies, including Kingfisher and UB Engineering.

Others include Nilachal Refractories , Linkson International , Secure Earth Technologies , Ratan Glitter Industries , Bheema Cements , Arvind International , Elegant Floriculture & Agrotech India , Pretto Leather Industries , UT Ltd , Arihants Securities Ltd , Raghava Estates and Properties , Tutis Technologies , Valuemart Info Technologies , Ontrack Systems , A von Corporation , Birla Pacific Medspa , Best & Crompton Engineering , Varun Industries  and Maestros Mediline Systems .

Kingfisher Airlines is already facing a close regulatory scrutiny over suspected lapses in its accounting practices and the Corporate Affairs Ministry is looking into possible violations of Companies Act.

The airline, part of Vijay Mallya-led UB Group, has been grounded for over two years now after being bogged down by huge and mounting losses.

The carrier is yet to submit its annual financial results for the 2013-14 period to the stock exchanges. In a filing to the BSE on August 26, the carrier had said that steps were being taken to appoint directors in order to comply with provisions of the Companies Act, 2013 and listing agreement with the stock exchanges.

"Thereafter, steps will be taken towards publishing the audited results for the year ended March 31, 2014 and for the quarter ended June 30, 2014," it had said.

Back in May, Kingfisher had informed stock exchanges that "there are hardly any employees attending office and the company is currently operating with skeletal staff making it difficult to audit and publish the results in time."

As part of the recovery process, banks in February last year decided to sell a portion of the collateral with them, including shares of its group companies United Spirits Ltd and Mangalore Chemicals & Fertilizers Ltd, Mallya's Goa villa, Kingfisher House in Mumbai and the Kingfisher brand, which was valued at over Rs 4,000 crore at the time it was pledged.

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South India emerges as property hotspot

South India has pipped the north and west when it comes to commercial real estate. From January to September, almost 50 percent of new office space deals were struck in Chennai, Hyderabad and Bangalore. Thanks primarily to the IT/ITeS sector, commercial real estate in south india is building new blocks towards recovery. Nayantara Rai brings you the findings of the latest report by international property consultant CBRE.

Chennai recorded a 50 percent quarterly growth in the July-September period, with some of the bigger transactions involving properties like the Prestige Palladium in the heart of the city, the DLF IT SEZ, approximately 5 km from the airport; and along the city's upcoming it corridor in Sholin-Ganallur where a contract research firm scope international signed up 96,000 sqft

What's also noteworthy is the appreciation in rentals, rising by 25 percent Y-o-Y and 15 percent-plus Q-o-Q in IT SEZs in localities like Velachary, Perungudi and Poonamallee Road. A similar trend is panning out 20 km away from Chennai's city centre at the upcoming it corridor. CBRE concedes this is not sustainable.

Anshuman Magazine, CMD - South Asia, CB Richard Ellis, said: "This may not be sustainable but the fact is we do expect in some of the areas where the supply is limited and some improvement in demand happens there could be marginal increase in rentals."

With the end of the political crisis that had paralysed Hyderabad's property market, CBRE has observed a revival, albeit a gradual one from corporates, especially those from the IT sector and back-end offices for financial services. The action is not so much in the popular Banjara and Jubilee Hills, but in the established it corridor of HiTec city and Gachibowli, where rentals have been slowly inching up.

CBRE says Hyderabad has the potential to emerge as the preferred office destination of corporates. But for that, the city's cheaper and upcoming it corridor—comprising Kukatpally, Manikonda and Nana-Kramguda--have to remain competitive against Bangalore, Chennai and Pune.

India's IT capital Bangalore is still the country's largest office market. A few of large deals inked in the July-September quarter include Mercedes Benz and TCS in Whitefield; Bosch at Sarjapur Marthahalli in Outer Ring Road; Accenture at Mysore road and Wipro again at the Outer Ring Road. These are the future growth corridors identified by CBRE.

"The place to watch out is North Bangalore. We are seeing lot of activity, new special economic zones coming in, airport being in close vicinity, I think in next couple of years North Bangalore will see quite a bit of activity," Magazine said.

And prospects for Bangalore remain bright. In India's largest leasing transaction e-tailing giant Flipkart has signed on the dotted line for a 3 million square foot custom-built campus from local builder embassy. The deal is pegged at Rs 85/sqft. Accenture is believed to be on the lookout for another 1 million sqft.

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Rolls-Royce launches Ghost Series II at Rs 4.50 cr

British ultra-luxury car maker Rolls-Royce today rolled out its latest offering Ghost Series II in the domestic market, priced at Rs 4.50 crore and pitched for lower taxes to spur growth in the ultra luxury car segment in the country.

British ultra-luxury car maker Rolls-Royce today rolled out its latest offering Ghost Series II in the domestic market, priced at Rs 4.50 crore and pitched for lower taxes to spur growth in the ultra luxury car segment in the country.

"India is a key market for Rolls-Royce cars. In answer to our clients' demand for the best in effortless, dynamism, modern luxury and industry leading technology, we are proud to present Ghost II series," Rolls-Royce Asia-Pacific general manager Sven J Ritter said at the launch.

He said in their latest offering, customers will find the same level of exclusivity, quality and perfection that is quintessentially Rolls-Royce.

Ritter said that India is among the top five markets for Ghost model in the Asia Pacific region but did not divulge any sales number.

The British ultra-luxury car maker, which entered the Indian market in 2005, currently sells three models- Phantom, Ghost and Wraith, through five dealerships across the country. Ghost was first launched in India in 2009.

Ritter however, said that Rolls-Royce has so far sold 250 units of its three models since 2005.

Building on this success, is Ghost II series which comes with innovative technological design and engineering features, he said. "We certainly see more growth. Sentiment are positive following the new Government taking over but one thing that could change is the tax system. Taxes are very high. Though there are several other issues which are to be addressed by the new government, we will certainly welcome lower taxes for the luxury segment," Ritter said.

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Govt asks telcos to implement full MNP by May

Currently, MNP norms allow users to retain their numbers while changing their operators within the same service area. India has 22 telecom circles.

Government has asked telecom firms to implement full mobile number portability (MNP) by May 3, a move that will enable subscribers to retain their numbers when they shift to other states or licensed service areas.

Currently, MNP norms allow users to retain their numbers while changing their operators within the same service area. India has 22 telecom circles, or service areas.

Under the full MNP regime, a subscriber in Delhi NCR, for instance, will be able to switch to the network of either the same or any other telecom operator in a different state while retaining the same mobile number.

"Intra licensed service area MNP has already been implemented in the year 2010-11. Now, it has been decided to implement the facility of full MNP in the country which will enable the subscribers to port their mobile numbers across the licensed service area also," Department of Telecom said in a letter to telecom operators dated November 3.

DoT said that in order to implement full MNP, the word 'each intra' is modified to be read as 'inter and intra' in the instructions for MNP, which were issued on May 6, 2009.

"The telecom service providers are being given six months time to implement full MNP from the date of issuance of these instructions," DoT said.

As per the data released by the Telecom Regulatory Authority of India, about 13 crore people had requested for MNP facility as on August 31.

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Not in top 3 but count on us for value: TCS' Chandrasekaran

Tata Consultancy Software ( TCS ) has been sponsoring the New York Marathon for eight years and the brand may catch up with the leadership the business enjoys right now. A day before the Marathon, TCS CEO N Chandrasekaran spoke to CNBC TV18 about making it to the top three and the advantages & disadvantages of scale associated with it.

Below is the transcript of N Chandrasekaran's interview with Menaka Doshi on CNBC-TV18.

Q: Why is it that India is still perceived to be a low cost IT services industry? While you may say size is not necessarily the goal or the target that you are working with, it is both size and the quality of revenue, the quality of margins that will determine when a company like TCS which is an Indian IT services player will get to the top three? That is the question I keep coming back to, how do we change that impression?

A: All I would say is that if you look at TCS over the last few years in terms of the incremental revenues, we continue to clock more incremental revenues than anyone else. If you look at the margins we continue to be posting industry leading margins. Also from a perception point of view, among our customer set, if you go and do a survey, I don't think that people will see us as a low cost provider. People will see us as somebody who brings enormous value and I don't think there is an issue there. However, it always takes time when you have a perception for it to catch up with the reality.

Q: In terms of profit per employee, if I am correct, even HCL Technologies is ahead of you. This question comes out repeatedly when I talk to observers of TCS analysts. Are you too big for the revenue that you make or will that slow you down at some point in the future?

A: The total number of employees that you have is dependent on two or three factors – the number of things that you do, the kind of investments that you do, the kind of services that you do and the global operation that you do. TCS has positioned itself as a full services broad-based global player. We do what we have to do in order to serve our clients holistically and that requires us to venture into new territories ahead of time, venture into new markets, venture into new industries and venture into new service lines. We have done that time and again and we will continue to do that. So if you measure any metric from a particular angle at any point in time, you can always show a company as ranking very high or ranking very low. I agree with you revenue is important, size is important, revenue growth is important, margin is important. I think we are doing all the right things in order to be able to get the mindshare, to bring the innovation to work for clients, to get the mindshare to solve not only problems of today but also prepare clients for the future; that's the journey we are on and our results and our service not only done by us but by everybody else shows that we are continuing to hit the mark.

Q: Many of the main markets that you work in, you don't rank amongst the top three so there is still a long distance for TCS to go. For instance if you look at North America or Europe, which are your key revenue geographies, you are not even probably in the top five. Some of the emerging markets like Latin America, you are lower down. Two ways to look at this – there is a long road to go for you to get that top spot or equally look at the opportunity, it is so big from hereon?

A: It is a fair point but it can't be a goal to be in the top three in every market and everything you do. That way if you start measuring yourself in every single dimension and you want to be number one then you are trying to be all things to all people. It is very difficult to do that. In every market that we do what we do is to work with clients and some of the clients are pretty global. It is just not that you work for a client in one market. So, you try to be holistically working with the client base. So, that sometimes puts you in a great spot in the market value or in the top one or two but the important thing is we are tending to deliver growth in every market. So, if you take US, if you take Europe, if you take every other market we are continuing to grow substantially better than anyone else; that is the key point.

TCS stock price

On November 07, 2014, Tata Consultancy Services closed at Rs 2573.50, down Rs 27.35, or 1.05 percent. The 52-week high of the share was Rs 2834.00 and the 52-week low was Rs 1960.00.

The company's trailing 12-month (TTM) EPS was at Rs 99.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 25.86. The latest book value of the company is Rs 224.90 per share. At current value, the price-to-book value of the company is 11.44.

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ArcelorMittal posts USD 22mn profit in July-Sept

ArcelorMittal today reported a net income of USD 22 million for the July-September quarter of this year on the back of higher sales and better price.

ArcelorMittal today reported a net income of USD 22 million for the July-September quarter of this year on the back of higher sales and better price.

The world's largest steel maker had reported USD 193 million loss in the July-September quarter of last year, it said in a statement.

Sales for the reporting quarter were higher at USD 20.06 billion as compared to USD 19.6 billion a year ago mainly due to improved steel sales and higher marketable iron ore sales.

Total steel shipments for the quarter were 21.5 million tonnes, higher by 3.9 percent over 20.7 million tonnes reported in the same quarter last year.

"This quarter's results show considerable improvement in our steel business which has more than offset the fall in the iron ore price. Europe has delivered another strong quarter, reflecting improved market conditions and the benefits of the optimisation efforts, the turnaround in ACIS is evident, and the NAFTA business has recovered after a disappointing first half," said Lakshmi N. Mittal, ArcelorMittal Chairman and CEO.

"Based on today's market conditions, I do not foresee a deterioration in our performance in the fourth quarter. As a result we are well placed to achieve full year EBITDA in excess of USD seven billion," he added.

Net debt of the company, as of September-end, stood at USD 17.8 billion as compared to USD 17.4 billion as of June 30, 2014.

The company said this is due largely to working capital investment of USD 0.6 billion and dividends of USD 0.4 billion which was partially offset by forex effects USD 0.5 billion.

ArcelorMittal said operating conditions remain generally favourable. The impact of declining iron ore price on mining segment profitability was offset by improvement in the steel business.

Net interest expense is now expected to be approximately USD 1.5 billion for 2014 and capital expenditure approximately at USD 3.8 billion for the whole year.

"The company maintains its medium term net debt target of USD 15 billion," it said.

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Britannia bets big on health food products

Britannia Industries, the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

At this point in time, it is not a large part of our total revenue. But with the kind of health revolution that is going on in the country, over the years, it could become 20 percent.

Varun Berry

MD

Britannia Industries

Britannia Industries , the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

Excerpts from the interview.

Q: What is the plan with the health products segment?

A: Biscuits is an established category. What gives me a lot of faith in our products is that because we are trading up on biscuits and getting healthy biscuits we have seen the same with other NutriChoice variants that we have launched. So, I am pretty sure that the adopters of health are going to certainly buy our product and this category is going to grow over a period of time.

Q: When you look at the overall revenue, can you tell us how much the health segment contributes for Britannia as a whole?

A: At this point in time, it is not a large part of our total revenue. It will be about 6 percent of our total revenue but we are pretty sure that with the kind of health revolution that is going on in the country over the years if we take the lead in these segments, this segment is certainly going to become about 20 percent of the total revenue.

Britannia stock price

On November 07, 2014, Britannia Industries closed at Rs 1521.60, down Rs 34.05, or 2.19 percent. The 52-week high of the share was Rs 1578.00 and the 52-week low was Rs 812.00.

The company's trailing 12-month (TTM) EPS was at Rs 32.63 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 46.63. The latest book value of the company is Rs 71.17 per share. At current value, the price-to-book value of the company is 21.38.

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Telecom industry needs more spectrum: Mittal

Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.

Bharti group Chairman Sunil Mittal today said the telecom industry wants more spectrum and the government should make it available.

"We want from the government more spectrum. Every country has the same amount of spectrum and it is not that India has less... It needs to be vacated from other places, that is what other countries have also done," Mittal said on the sidelines of the India Economic Summit here.

Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel , Vodafone, Idea Cellular and Reliance Communications.

Government has proposed to put for auction about 184 Mhz of spectrum in 900 Mhz band which is held by these companies through their various licences expiring in 2015-16. The four telecom operators will have to buy spectrum afresh to continue their services.

"I would say government should make available enough spectrum so that there is a balance between spectrum pricing" he added.

On being asked if the spectrum auction -- scheduled for February 3 -- should be deferred, Mittal said: "Why should this be deferred. Industry wants more spectrum and the government should make it available to them."

On Bharti Airtel calling off the Rs 700-crore deal to acquire business and assets of Mumbai based Loop Mobile, he said much is being read into this. "Loop mobile is a small issue and I don't know why this is being made into such a big issue. Most of the Loop subscribers have ported to us. It was a small deal, which was basically an experiment for the first time to acquire
customers.

"Its not about the merger but about the renewal of the agreement," Mittal said. Airtel, in a filing to BSE, had said its proposed transaction related to Loop was conditional upon DoT approvals which had not been received till date.

DoT is yet to give clearance to the proposed deal as in estimates that Loop Mobile and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and other charges to the government. Private sector lender Axis Bank has also told the DoT that Rs 215-crore loan to Loop Mobile will be at risk if the deal of the Mumbai-based operator to sell its assets to Bharti
Airtel is not approved.

Airtel had signed the deal with Loop in February this year to buy business and assets of Loop Mobile in Mumbai under a strategic agreement for about Rs 700 crore. Under the agreement, Loop Mobile's 3 million subscribers (at that time) in Mumbai were supposed to join Airtel's over 4 million subscribers, which would have made it the largest network in the metropolitan city.

Bharti Airtel stock price

On November 05, 2014, Bharti Airtel closed at Rs 385.30, down Rs 10.7, or 2.7 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.

The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.06. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.31.

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Kol, Chennai airports dropped off privatisation map: Source

It is almost certain.  Two of the biggest airports, at Kolkata and Chennai, have been dropped off  Government's privatisation map. CNBC-TV18's Sindhu Bhattacharya reports quoting sources that the much delayed consent of the Government on developing and modernising some airports under the Public Private Partneship (PPP) model may come next week but instead of the earlier six airports, the list may be pruned to four.

"Kolkata and Chennai airports have already seen huge investments by the Airports Authority of India but continue to be poorly managed. In all likelihood, these two airports will not be on the PPP map," the source said.

State-owned AAI is the biggest owner and operator of airports in India. The four airports expected to get a nod for PPP route to modernisation are those at Jaipur, Lucknow, Guwahati and Ahmedabad.

The PPP model being considered now is different from previous models (such as those adopted for Delhi and Mumbai airports) because neither the state and nor the state-owned AAI are to hold any equity stake this time. The airports will be handed over entirely to private parties. In India, all greenfield airports have traditionally been developed by the AAI. The six identifed airports were to become the first such airports where private parties would have been able to acquire 100% equity on a 30-year lease basis, with no AAI participation.

But with Kolkata and Chennai possibly out of the PPP kitty, other problems may arise. Large airport developers like GVK, GMR and others have been keen on participating in the privatisation process till now but will they come forward if two largest airports are not on the table?

An official at a large airport developer had said earlier traffic potential will have to be assessed at the remaining four airports but first, the Government needs to get the model concession agreement and the regulatory framework for revenue sharing model right. A consultant closely associated with the airport privatisation process has said earlier that if Chennai and Kolkata are excluded, the entire privatisation process could be a washout since private sector interest in smaller airports would be minimal.

Some officials in the Government see things differently though. According to them, Ahmedabad and Jaipur should hold enough interest for private bidders since the first is a business hub and the second a tourist hub. There were some reports earlier of Prime Minister Modi exhorting a major port developer from Gujarat to come forward and take the contract at least for Ahmedabad airport, which is expected to have good traffic potential.

Why is the Government hesitant on going the whole hog with a PPP model? A senior official in the ministry of civil aviation had earlier pointed out that the experience with privatisation till now has not been all pleasant. Five of India's largest airports are being run by consortia of private players with AAI working alongside as per a revenue sharing formula. These are Delhi, Mumbai, Bengaluru, Hyderabad and Cochin.

At one of these five airports, the cost of turnaround of a wide body aircraft is USD 6000. This is how much it costs an airline for landing the aircraft, paying for its parking, unloading etc. At the world famous Singapore airport, the same services would cost an airline just USD 2300. Officials in the Ministry of Civil Aviation have been questioning private developers charging airlines and flyers exorbitantly. A senior ministry official has said earlier that such exorbitant charges of private airports in India are bothering airlines and this will be a big consideration in awarding future airport contracts to private developers. The official had also said that the Planning Commission has circulated a new model concession agreement (MCA) with changes. Airport privatisation has been stuck for many months - the process was first initiated during the UPA2 tenure.

At that time, the Planning Commission was pushing for a tariff model which prospective bidders found unviable. The Planning Commission wanted a cap on user fee: basically a model followed by the roads sector where the user fee or toll is pre-determined though allowed an annual small increase. But private airport developers wanted user fee to be determined by costs of the project and did not want any fixed amount. This meant the PPP process and subsequently model concession agreements were interminably delayed.

Sources tell us it is now possible that the second formula, where user fee varies according to project cost and investments sunk into it, will be offered in revised MCAs.
 

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ITC likely to set up food processing park in Telangana

Telangana, state IT Minister K T Rama Rao did not disclose the investment proposal by ITC, saying that talks are still in preliminary stages. Rao further said that ITC Group would be pumping in around Rs 700 crore for the proposed hotel.

ITC  Limited has shown interest in setting up a food processing park in Telangana, state IT Minister K T Rama Rao said here today. He said the government has cleared a proposal by the hotel division of the multi-business conglomerate for setting up a five-star hotel in Madhapur area, the IT hub of the state capital.

"They (ITC) have approached us with a proposal for setting up a food processing park. We suggest them to set it up at Gajwel as it is nearer to the state capital and more apt," Rao told reporters on the sidelines of a national conference on packaging.

The minister, however, did not disclose the investment proposal by ITC, saying that talks are still in preliminary stages. Rao further said that ITC Group would be pumping in around Rs 700 crore for the proposed hotel. He said the government has already received proposals for expansion of ITC's existing paper plant at Bhadrachalam with an investment of Rs 3,000 crore.

Earlier, speaking at the two-day 'National Summit on Packaging for Tomorrow', Rao said his government is keen to work with corporates in waste management and recycling. In his address, Dr Reddy's Laboratories  chairman K Satish Reddy said packaging innovations in pharmaceutical industry should be patient-friendly.

ITC stock price

On November 05, 2014, ITC closed at Rs 358.35, up Rs 3.40, or 0.96 percent. The 52-week high of the share was Rs 386.75 and the 52-week low was Rs 307.60.

The company's trailing 12-month (TTM) EPS was at Rs 11.62 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 30.84. The latest book value of the company is Rs 32.91 per share. At current value, the price-to-book value of the company is 10.89.

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ONGC Videsh eyes stake in Tullow Oil's Africa assets

India, the world's fourth biggest oil consumer, has charged state oil firms with acquiring assets overseas to improve the security of its energy supplies. The country imports about 80 percent of its crude needs.

ONGC Videsh, the overseas investment arm of  Oil and Natural Gas Corp , is looking to buy a stake in the assets of Africa-focused exploration company Tullow Oil Plc, a source with direct knowledge of matter said.

India, the world's fourth biggest oil consumer, has charged state oil firms with acquiring assets overseas to improve the security of its energy supplies. The country imports about 80 percent of its crude needs.

ONGC Videsh aims to get 400,000 barrels per day (bpd) of crude from its overseas assets by 2018, compared with about 167,000 bpd produced from overseas holdings in the fiscal year to March 2014, ONGC's chairman said in October.

To meet its objective the company is looking at acquisitions, preferably of producing assets, in politically less risky countries.

"ONGC is keen to buy a stake in the African properties of Tullow that includes assets in Ghana and Kenya," said the source, who declined to be identified because of the sensitivity of the issue.

Tullow Oil declined to comment to Reuters when asked if it was in talks with ONGC or others on a stake sale.

ONGC Videsh wants to acquire assets in stable geographies like North America, Canada and Mexico, and expand its presence in Africa, Managing Director N. K. Verma said in an interview earlier this week.

London-listed Tullow has a number of oil assets in Africa, including its flagship Jubilee oil field offshore Ghana.

ONGC in 2009 made an attempt to buy the Jubilee stake of private equity-backed company Kosmos Energy. Kosmos later shelved plans to sell its stake.

ONGC stock price

On November 05, 2014, Oil and Natural Gas Corporation closed at Rs 403.45, down Rs 1.05, or 0.26 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 263.30.

The company's trailing 12-month (TTM) EPS was at Rs 26.72 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 15.1. The latest book value of the company is Rs 159.81 per share. At current value, the price-to-book value of the company is 2.52.

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ONGC disinvestment roadshows from November 17

The government will begin roadshows to attract investors to the planned 5 percent stake sale in  Oil and Natural Gas Corp (ONGC) from November 17.

Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, a top government official said.

The government has not yet firmed up a timeline for the stake sale that at current rate will fetch it over Rs 17,200 crore.

Citigroup, HSBC Securities, UBS Securities, ICICI Securities and Kotak Mahindra Capital are managing the sale.

Government, which holds 68.94 percent stake in ONGC, is selling 42.77 crore or 5 percent of its holding.

"That (stake sale date) has not yet been decided. We will decide that during the course of the roadshows or immediately after that," he said.

The roadshows will end by last week of November and the stake sale can happen immediately after that or in the first half of December.

The government is keen to appoint three new independent directors on the board of ONGC before the roadshows.

"We now have a clarity on the natural gas prices and can present to investors a better picture of ONGC," the official said.

On October 18, the government raised natural gas prices by 33 percent to USD 5.61 per million British thermal unit, a rate which will boast ONGC profits by close to Rs 2,000 crore.

Also, the fall in international oil rates have meant that ONGC's fuel subsidy burden is reduced. Upstream oil producers like ONGC make up for close to half of the losses that
state-owned fuel retailers incur on selling diesel and cooking fuel at government controlled rates.

In 2013-14, fuel retailers lost Rs 1,39,869 crore in revenue. Most of this met by cash support from government (Rs 70,772 crore) and upstream firms (Rs 67,021 crore).

This fiscal, the revenue losses are estimated at around Rs 86,000 crore. Out of this, Rs 28,691 crore have already been account for in the first quarter and another Rs 21,198
crore in July-September period.

Lower subsidy burden and clarity on gas price will boost ONGC earnings and share price, the government feels. This would help it realise a better price in the stake sale.

The government had last sold 5 percent stake in ONGC in 2012 for Rs 14,000 crore.

In the current fiscal the government plans to mop up Rs 43,425 crore from selling stake in various state-owned firms.

ONGC stock price

On November 05, 2014, Oil and Natural Gas Corporation closed at Rs 403.45, down Rs 1.05, or 0.26 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 263.30.

The company's trailing 12-month (TTM) EPS was at Rs 26.72 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 15.1. The latest book value of the company is Rs 159.81 per share. At current value, the price-to-book value of the company is 2.52.

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DLF gets interim relief; allowed to redeem Rs 1806cr of MFs

After hearing an appeal for interim relief by DLF, the Tribunal allowed the company to redeem mutual funds worth Rs 767 crore in the current month and further funds worth Rs 1,039 crore in December.

In an interim relief against Sebi order, realty giant  DLF was today allowed by the Securities Appellate Tribunal to redeem mutual funds worth Rs 1,806 crore till next month.

After hearing an appeal for interim relief by DLF, the Tribunal allowed the company to redeem mutual funds worth Rs 767 crore in the current month and further funds worth Rs 1,039 crore in December.

DLF had sought permission to redeem funds locked in mutual funds after being slapped with the market regulator's ban last month from accessing the capital market for 3 years.

The Delhi-based developer had made the request through an affidavit submitted on Monday to the Securities Appellate Tribunal (SAT), which is hearing DLF's appeal against the unprecedented ban imposed by the watchdog last month on the company and six of its top officials.

The affidavit was filed following a direction from the tribunal last Thursday.

The SAT, a quasi-judicial body, will begin its final hearing on December 10 on DLF's main plea against Sebi order. At an earlier hearing on October 30, the SAT had asked DLF to specifically mention the time-frame, the requirements as well as the end use of the fund apart from till what time it needs the interim relief.

The SAT has further asked Sebi to file its reply to the DLF petition by November 30 and directed the petitioner to submit its rejoinder by December 8 and posted the matter for final hearing on December 10.

Last month, Sebi banned DLF and six of its senior-most officials, including founder-Chairman K P Singh, from capital markets for three years. The company challenged the ban in SAT and had sought an interim relief on October 22. The Sebi took action against DLF for not disclosing the details about three of its 353 subsidiaries/associate companies in its 2007 IPO filing. This was one of the rare orders by Sebi where it barred a blue-chip firm and its top promoter/executives from market.

While promoters own 74.93 per cent stake in DLF, foreign institutional investors have close to 20 per cent and retail shareholders about 4 percent, among others.

DLF stock price

On November 05, 2014, DLF closed at Rs 126.65, down Rs 1.85, or 1.44 percent. The 52-week high of the share was Rs 242.80 and the 52-week low was Rs 100.00.

The company's trailing 12-month (TTM) EPS was at Rs 2.52 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 50.26. The latest book value of the company is Rs 93.40 per share. At current value, the price-to-book value of the company is 1.36.

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Ranbaxy gets USFDA nod to sell cholesterol medicine

Commenting on the development, Ranbaxy Inc Trade Sales Vice President Dan Schober said: "The product will be manufactured at Ohm Laboratories, in our US facility located in New Brunswick, New Jersey and launched immediately thereafter."

Drug firm  Ranbaxy Laboratories has received approval from the US health regulator to manufacture and market Fenofibrate capsules used for lowering high cholesterol and triglyceride levels in the blood.

"Ranbaxy Laboratories Ltd...has received approval from the U S Food and Drug Administration (USFDA) to manufacture and market Fenofibrate capsules USP, 43 mg and 130 mg," the company said in a statement.

Commenting on the development, Ranbaxy Inc Trade Sales Vice President Dan Schober said: "The product will be manufactured at Ohm Laboratories, in our US facility located in New Brunswick, New Jersey and launched immediately thereafter."

As per the IMS health September 2014 data, total annual market sales for Fenofibrate Capsules USP, 43 mg and 130 mg were USD 56 million, Ranbaxy Laboratories said.

"Fenofibrate Capsules are indicated for primary hypercholesterolemia and mixed dyslipidemia. In addition, it is indicated for severe hypertriglyceridemia," it added.

Shares of Ranbaxy laboratories today closed at Rs 654.15 per scrip on BSE, up 2.03 percent from their previous close.

Ranbaxy Labs stock price

On November 05, 2014, Ranbaxy Laboratories closed at Rs 654.15, up Rs 13.00, or 2.03 percent. The 52-week high of the share was Rs 667.30 and the 52-week low was Rs 306.05.

The company's trailing 12-month (TTM) EPS was at Rs 20.93 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 31.25. The latest book value of the company is Rs 25.84 per share. At current value, the price-to-book value of the company is 25.32.

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Goa Cabinet approves grant of mining lease policy

The renewal list is likely to include Sesa Sterlite's three leases. Salgaocar, Fomento Resources and Bandhekar brothers are expected to be other beneficiaries.

CNBC-TV18 learns that the Goa Cabinet has approved the grant of mining lease policy. The new policy paves the way for renewal of leases for mining. And sources say that the Goa government is likely to renew 21 leases in a month's time.

The renewal list is likely to include Sesa Sterlite 's three leases. Salgaocar, Fomento Resources and Bandhekar brothers are expected to be other beneficiaries.

The state mines department in October had moved a file clearing 10 mining leases, initiating a major step to resume mining operations halted for last two years in Goa.

The Supreme Court, which had lifted the ban on state's mining operations in April this year, had asked the Goa government to form a policy before allotting the leases. The Manohar Parrikar-led government had recently passed the Grant of Mining Leases Policy which had decided not to auction them (leases), but to hand them over to original operators once they complete all the formalities.

Sesa Sterlite stock price

On November 05, 2014, Sesa Sterlite closed at Rs 251.40, down Rs 9.9, or 3.79 percent. The 52-week high of the share was Rs 318.40 and the 52-week low was Rs 169.55.

The company's trailing 12-month (TTM) EPS was at Rs 5.48 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 45.88. The latest book value of the company is Rs 113.60 per share. At current value, the price-to-book value of the company is 2.21.

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17 Indian cos invited to join league of 'Global Growth Cos'

Seventeen "fastest growing" Indian companies, including Avesthagen and Flipkart, have been invited to join the World Economic Forum Global Growth Companies (GGCs) community comprising 370 firms.

The selected companies are: 4G Identity Solutions, ANI Technologies, Avesthagen, Bandhan Financial Services, Centum Electronics, Finolex, Flipkart, Forbes Marshall, InterGlobe Enterprises, Justdial, MakeMyTrip, Nash Industries, Persistent Systems, Radikal Foods, RBL Bank, Sobha, and Transasia Bio-Medicals.

These companies were nominated on the strength of their ability to become future global leaders and represent a broad spectrum of sectors, including banking, retail, information technology, chemicals and energy, WEF said in a news release.

The honoured companies would receive awards at the ongoing India Economic Summit here.

"The World Economic Forum is proud to recognise these 17champions that are at the forefront of driving responsible economic growth, job creation and entrepreneurism in South Asia," World Economic Forum Managing Director and Head of New Champions David Aikman said.

Nomination as a GGC provides companies with an opportunity to join the larger GGC community of over 370 companies worldwide.

These companies contribute to the Forum's meetings, projects and knowledge products, which in turn support them on their path to achieving responsible and sustainable growth.

GGCs are fast-growing companies with the potential to become global economic leaders.

The nominated GGCs represent a broad cross-section of industry sectors but share a track record of exceeding industry standards in revenue growth, promotion of innovative business practices and demonstration of leadership in corporate citizenship, WEF added.

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Allahabad Bank cuts rate on retail deposits by 0.15%

The new rates will be applicable from November 10, 2014, the bank said in a filing to the BSE.

Public sector lender Allahabad Bank  today cut by 0.15 percent the rate of interest on retail term deposits maturing in 1-5 years.

The new rates will be applicable from November 10, 2014, the bank said in a filing to the BSE.

"The Bank has decided to revise the interest rate downward by 0.15 percent per annum i.e. from existing 9.05 percent per annum to 8.90 percent per annum on domestic retail term deposits scheme with maturity period of one year to less than five years," it said.

Shares of Allahabad Bank today closed at Rs 116.15 per piece on the BSE, down 1.44 per cent from the previous close.

Allahabad Bank stock price

On November 05, 2014, Allahabad Bank closed at Rs 116.15, down Rs 1.7, or 1.44 percent. The 52-week high of the share was Rs 150.00 and the 52-week low was Rs 72.45.

The company's trailing 12-month (TTM) EPS was at Rs 13.54 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 8.58. The latest book value of the company is Rs 216.68 per share. At current value, the price-to-book value of the company is 0.54.

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'Maruti investing about Rs 4k cr in key areas in 2-3 yrs'

MSIL would also focus more on bringing out models with auto gear shift technology, going forward, executive director-engineering, CV Raman said

Country's largest car maker  Maruti Suzuki India is investing up to Rs 4,000 crore in the next 2-3 years in key areas like product development, R&D and marketing infrastructure, a senior MSIL official said today.

MSIL would also focus more on bringing out models with auto gear shift technology, going forward, executive director-engineering, CV Raman said. "Currently Rs 4,000 crore worth of investments are going into research and development, product development and marketing infrastructure over period of two to three years (including the current year).

"We will be improving our R&D capability. We are setting up test labs and other facilities. Marketing infrastructure such as setting up stockyards will be created," Raman said on the sidelines of launch of the company's new version of Alto K10 hatchback.

The company is expected to come out with a SUV- XA Alpha- next year, he said. Replying to a query, Raman said as of now there are no plans to make diesel engines while Suzuki is working on various types of engines in diesel. On the reports of crash test failure of Swift, Raman
said the car meets all standards set by the Indian government.

"All MSIL as well as other vehicles comply with Indian regulations. As far as swift is concerned. The test is not mandatory in India. There is no regulation to pass that test," he said. According to the Global NCAP, an umbrella body of consumer car safety testing bodies, crash tests of Nissan's Datsun GO and Maruti-Suzuki's Swift demonstrated a high risk of life-threatening injuries with both cars receiving zero-star safety rating for their adult occupant protection.

He asserted that the Global NCAP report will not have any impact on Swift sales. The production of auto gear shift models is being ramped up to meet the market demand, he said. "Currently, roughly about 4,000 vehicles (are being produced) per month with AGS technology and going forward will ramp up this number. We feel that the two pedal technology is very relevant now. Obviously the auto gear models would increase the volume. May be in future we look at coming out with more models in AGS," he said.

Raman said the sales of diesel vehicles could go up as the price difference between petrol and diesel is narrowing.

Maruti Suzuki stock price

On November 03, 2014, Maruti Suzuki India closed at Rs 3285.60, down Rs 52.75, or 1.58 percent. The 52-week high of the share was Rs 3349.00 and the 52-week low was Rs 1541.25.

The company's trailing 12-month (TTM) EPS was at Rs 102.82 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 31.95. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 4.73.

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SHRM Conference 2014 discusses role of HR in changing times

To discuss and understand the role of HR in changing times, Society for Human Resource Management India organised its third annual conference, a platform that empowers and enables HR personnel across industry verticals to stay in line with the continuously evolving HR industry.

It is imperative for businesses to build practises that help manage processes efficiently to encourage employee contribution and commitment. To further discuss and understand the role of HR in changing times, Society for Human Resource Management India organised its third annual conference, a platform that empowers and enables HR personnel across industry verticals to stay in line with the continuously evolving HR industry.

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Banks, FIs to spend Rs 46,900 cr on IT in 2014: Gartner

Moneycontrol Bureau

More power to Indian IT services companies ahead, the stage seems to be set for just that. A recent Gartner report says Indian banking and securities companies will spend Rs 46,900 crore on IT products and services in 2014, an increase of more than 10 percent over 2013 revenue of Rs 42,700 crore.

This forecast includes spending by financial institutions on internal IT (largely personnel), hardware, software, external IT services and telecommunications.

This push by banks and securities companies as suggested by Gartner will further aid Indian IT companies, most of which delivered in the second quarter. Although Wipro and TCS disappointed the street marginally, the mood remains upbeat.

Wipro's second quarter (July-September) net profit declined nearly 1 percent sequentially (up 8 percent year-on-year) to Rs 2,098.3 crore. Profit in the previous quarter was Rs 2,118 crore.

Tata Consultancy Services (TCS) slightly missed street expectations with the consolidated net profit rising 4.55 percent sequentially, against expected 5 percent growth, to Rs 5,288 crore in the quarter ended September 2014. Profit in the previous quarter was Rs 5,057.8 crore.

But the other two– Infosys and Tech Mahindra reported decent profit growth. Infosys posted a higher-than-expected 28.6 percent rise in its second-quarter net profit, while also announcing an unexpected issuance of bonus shares and interim dividend .  Tech Mahindra too reported a robust 14.1 percent sequential growth in second quarter net profit at Rs 720 crore on strong operational performance. Profit in the previous quarter was Rs 630.7 crore. It was, however, impacted by a forex loss.

IT services is the largest overall spending category at almost Rs 15,500 crore in 2014 (33 percent of the entire enterprise IT market) which confirms the interest of the banking industry for IT services which is becoming a leading industry in the country, says Gartner.

However, software is forecast to achieve the highest growth rate among the top level IT spending categories - at about 16.7 percent in 2014 - which will slow down in the following years compared to IT services market, Gartner further states.

Gartner research director Vittorio D'Orazio believes new bank licences will give a huge boost to IT spending across the country. "New bank licenses will be soon granted by RBI. This will trigger a new wave of IT spending across the country as RBI's goal is to reach a higher local penetration for banking services, and this means more branches," said Vittorio D'Orazio, research director at Gartner. "Front-office technologies, such as branch-related hardware and software, will be the sweet spot, as well as new channels such as mobile and ATMs/kiosks."

This is the first time since 2004 that the Reserve Bank granted new bank licences.  Yes Bank was the last bank that was formed in the country in 2004. RBI has already granted licences to  IDFC and Bandhan Financial Services.

However, recently global ratings agency Standard & Poor's flagged caution saying aggressive market share gaining tactics by new banks may hinder the banking sector's stability.

Wipro stock price

On November 03, 2014, Wipro closed at Rs 564.05, up Rs 0.60, or 0.11 percent. The 52-week high of the share was Rs 621.50 and the 52-week low was Rs 465.40.

The company's trailing 12-month (TTM) EPS was at Rs 34.28 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 16.45. The latest book value of the company is Rs 118.94 per share. At current value, the price-to-book value of the company is 4.74.

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RINL aims 10% higher production this year despite Hudhud

"Swinging into action following the devastating cyclone that hit us on October 12, production in our plant is now in full swing. We hope to produce a minimum of 10 percent more than what we did in the last fiscal," RINL's Chairman and Managing Director P Madhusudan said

Hudhud-hit Rashtriya Ispat Nigam hopes its crude steel production will go up by at least 10 percent in the current fiscal to over 3.5 million tonnes compared to last year despite 10 days of zero production last month due to the devastating cyclone.

"Swinging into action following the devastating cyclone that hit us on October 12, production in our plant is now in full swing. We hope to produce a minimum of 10 percent more than what we did in the last fiscal," RINL's Chairman and Managing Director P Madhusudan told PTI.

Clocking its highest-ever saleable steel production, the state-owned firm had produced 3.2 MT in the last fiscal and with the projected 10 percent growth in output, it would be a little over 3.5 MT, which would again create a record of sorts.

The cyclone had hit the operation of the company's lone steel-making facility at Vizag in Andhra Pradesh resulting in a complete halt of production for 10 days last month. However, it started operation in phases after that and now production in all units, including rolling mills has been revived.

The company's crude steel production in the first seven months of the current year was at 1.862 MT compared to 1.774 MT in the corresponding period of the last fiscal, as production was hit last month by the cyclone. "However, the RINL collective is working hard to make up for the shortfall and achieve the target of 10 percent growth in production for the current fiscal. We will achieve the set target," Madhusudan said.

Asked about the proposed initial public offering (IPO) of the company for which it had filed the initial documents with the market regulator SEBI in September, he said, "This is a call to be taken by the Department of Disinvestment." Government holds 100 percent in the Vizag-based steel
maker, which is enhancing capacity to 6.3 mtpa by next fiscal.

Post stake sale, government holding will come down to 90 percent. RINL had been looking to hit the markets to retain its Navaratna status, accorded in November 2010 with the condition that it would get listed within two years. The government had been looking to garner Rs 2,500 crore through the RINL IPO.

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'Will continue to invest in India, see more opportunity'

Rakesh Kapoor, CEO of Reckitt Benckiser says everyone tends to underestimate the long-term opportunities in a country or market like India, always getting unexcited when something goes wrong in the short term.

Reckitt Benckiser has committed to invest Rs 100 crore over the next few years to galvanise its efforts for the Clean India or Swachh Bharat campaign, says Rakesh Kapoor, CEO of the company. He is glad that his company is deeply connected with this campaign.

Reckitt Benckiser has been a long term India investor. It has invested in the country for over six decades now. Kapoor says everyone tends to underestimate the long-term opportunities in a country or market like India, always getting unexcited when something goes wrong in the short term.

He adds that Reckitt Benckiser will continue to invest in the country as it sees significant opportunity here.

Stay tuned for more..

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Accelerate India: Technology for growth

In this episode of Accelerate India: Technology for growth Raja Ukil, CIO of Wipro & Shailesh Joshi, VP - Corporate IT, Godrej Industries tells how the cloud is heling their respective businesses.

In this episode of Accelerate India: Technology for growth Raja Ukil, CIO of  Wipro & Shailesh Joshi, VP - Corporate IT,  Godrej Industries tells how the cloud is heling their respective businesses.

Also, Shereen Bhan is in conversation with Microsoft India's Managing Director, Karan Bajwa about his thoughts on cloud computing in India.

Watch videos for more…

Wipro stock price

On November 03, 2014, Wipro closed at Rs 564.05, up Rs 0.60, or 0.11 percent. The 52-week high of the share was Rs 621.50 and the 52-week low was Rs 465.40.

The company's trailing 12-month (TTM) EPS was at Rs 34.28 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 16.45. The latest book value of the company is Rs 118.96 per share. At current value, the price-to-book value of the company is 4.74.

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Ashok Leyland sales jump 23.1% in October

The company had sold 53,694 units in April-October 2014 while it was 51,644 units during the same period of previous year.

Hinduja Group flagship  Ashok Leyland has reported a 23.1 percent increase in its sales in October at 8,375 units. The city-based heavy commercial vehicle manufacturer had sold 6,803 units during the same month of previous year. Majority of sales in October were contributed by medium and heavy commercial vehicles at 5,838 units while light commercial vehicles contributed 2,537 units, the company said in a statement.

For the period of April to October 31, 2014, the company witnessed a marginal increase of four per cent in its total sales. The company had sold 53,694 units in April-October 2014 while it was 51,644 units during the same period of previous year.

While Medium and Heavy Commercial Vehicle units sold in April-October 31,2014 grew to 38,953 units from 34,913 units sold during the same period of previous year, sales of LCVs declined to 14,741 units in April-October 2014 from 16,731 units sold during year ago period.

Shares of the company were trading at Rs 46.50 apiece up by 0.32 percent over previous close in afternoon BSE.

Also Read: Oct sales good; mkt share may rise to 23% by April, says Bajaj

Ashok Leyland stock price

On November 03, 2014, Ashok Leyland closed at Rs 46.50, up Rs 0.15, or 0.32 percent. The 52-week high of the share was Rs 47.75 and the 52-week low was Rs 14.90.

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 108.14. 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 2.96.

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Suzlon sees more orders on accelerated depreciation booster

The accelerated depreciation scheme, that would provide relief for wind energy projects, came into force from mid-September.

Wind turbine maker Suzlon Energy  expects to receive additional orders worth about Rs 3,250 crore this fiscal on the back of government re-instating the accelerated depreciation scheme.

The accelerated depreciation scheme, that would provide relief for wind energy projects, came into force from mid-September.

According to sources, Suzlon expects to receive additional orders to the tune of 500 MW, worth about Rs 3,250 crore, in the current fiscal on account of AD scheme.

On a conservative basis, setting up 1 MW of wind energy generation capacity costs about Rs 6.5 crore. Accelerated depreciation (AD) refers to calculation that allows for higher deductions towards deprecation in the early life time of an asset.

When contacted, Suzlon Group Head of Finance Kirti Vagadia told PTI, "We expect to receive more orders in third and fourth quarters on account of accelerated depreciation (scheme)".

However, he did not divulge size of expected orders. The scheme, which had benefited the wind energy sector, was withdrawn by the earlier government in 2012.

"To encourage the wind energy programme, there is an accelerated depreciation. There was a confusion whether we have extended it or not. Members wanted it to be extended. I am, therefore, continuing with that accelerated depreciation," Finance Minister Arun Jaitley had informed the Lok Sabha in July while replying to a debate on the Finance Bill.

At the end of September, Suzlon's order book was worth USD 6.3 billion, with emerging markets alone accounting for about USD 1.1 billion. In terms of capacity, the order book\\ stood at around 4,600 MW.

Suzlon saw its consolidated net loss narrowing to Rs 656.21 crore in the three months ended September from Rs 782.37 crore recorded in the year-ago period.

This figure is after taking into account 'share in minority interest'.

In the second quarter (ended September) of current fiscal, the wind turbine maker's total income climbed to Rs 5,378.89 crore from Rs 4,808.90 crore in the same period a year ago.

Suzlon Energy stock price

On November 03, 2014, Suzlon Energy closed at Rs 13.40, down Rs 0.05, or 0.37 percent. The 52-week high of the share was Rs 36.80 and the 52-week low was Rs 8.24.

The latest book value of the company is Rs 9.05 per share. At current value, the price-to-book value of the company was 1.48.

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Coal India Oct output beats target first time in 7 months

Scrambling to add new mines and expand capacity, Coal India started production in July at a 12-million-tonnes-per-year mine, its first major new project in at least five years.

Coal India Ltd's  production beat its target in October, the first time in seven months, as the state-owned miner opened a major mine and there were no rain-related disruptions.

The world's largest coal miner, which has missed its annual production targets for years due to its inefficiency and other reasons, is under pressure from Prime Minister Narendra Modi's government to quickly boost output to cater to fuel-starved power plants.

The company produced 40.2 million tonnes last month, higher than its target of 39.74 million, it said in a statement on Monday. April-October production, however, was 97 percent of its target.

Scrambling to add new mines and expand capacity, Coal India started production in July at a 12-million-tonnes-per-year mine, its first major new project in at least five years.

The mine is ramping up production but a lack of rail connectivity means it has been able to sell very little.

The company failed to meet its offtake target for October and faces an uphill task of meeting its goal for this fiscal year ending March 31, a Coal India official said. He declined to be named as he is not authorised to talk to media.

Sixty one of India's 103 power plants had coal enough to last less than four days as of Thursday mainly due to lower supplies from Coal India, which accounts for more than 80 percent of the country's total production. India sits on the world's fifth-largest reserves but is the third largest importer of the fuel. This has forced Modi to open up the sector to commercial mining by private companies incorporated in India.

Coal India stock price

On November 03, 2014, Coal India closed at Rs 360.30, down Rs 9.05, or 2.45 percent. The 52-week high of the share was Rs 423.85 and the 52-week low was Rs 240.50.

The company's trailing 12-month (TTM) EPS was at Rs 20.04 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 17.98. The latest book value of the company is Rs 26.04 per share. At current value, the price-to-book value of the company is 13.84.

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CCI approves Fujitsu-Panasonic-DBJ JV

Fair trade regulator CCI has approved the proposed joint venture between three Japanese
entities -- Fujitsu, Panasonic and Development Bank of Japan -- saying that the deal does not raise anti-competition concerns in India.

Fujitsu and Panasonic have presence in India, while Development Bank of Japan, owned by the government of Japan, does not have any operations here.

As per the deal, the proposed joint venture would "specialise in system large-scale integration design and development of certain logic integrated circuit products".

An agreement in this regard was inked earlier this year between Fujitsu, Fujitsu Semiconductor Ltd (FSL) and Panasonic. Besides, a financing agreement was also executed between Fujitsu, FSL, Panasonic and Development Bank of Japan.

In an order released today, the Competition Commission of India said that "the proposed combination is not likely to have an appreciable adverse effect on competition in India".

The Commission observed that Fujitsu and its subsidiary, FSL, have had no sales of logic IC products in India in the last two financial years.

"As regards Panasonic, as per the information provided in the notice, the only affiliate that sells semiconductor/logic IC products into India is Panasonic Asia Pacific based in
Singapore, which has insignificant sales of semiconductor/ logic IC products in India," CCI noted.

"It is, therefore, observed that there is no horizontal overlap between the Parties in India. Further, as stated in the notice, there is no vertical relationship between the parties in India," it added.

Further, CCI also noted that there are various other major players present in the semiconductor and IC product market in the country.

Fujitsu, a global IT company, offers a wide range of products, solutions and services including servers, telecom and network infrastructure products, personal computers,
mobile phones.

Its subsidiary FSL would be contributing assets relating to its semiconductor business to the joint venture.

Panasonic is engaged in the development and engineering of electronic technologies, among others.

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Hyundai sales up 11.54% in October at 56,010 units

Commenting on the sales performance, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said there was increase in sales in additional and replacement buyers segment with demand led by new models like Elite i20, Xcent, coupled with festival buying.

Hyundai Motor India Ltd (HMIL) today reported 11.54 percent increase in total sales at 56,010 units in October 2014. The company had sold 50,212 units in the same month last year, it said in a statement. In the domestic market, Hyundai sold 38,010 units last month as compared to 36,002 units in October 2013, up 5.57 percent.

During the month, Hyundai's exports grew by 26.67 percent to 18,000 units as against 14,210 units in the same period last year. Commenting on the sales performance, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said there was increase in sales in additional and replacement buyers segment with demand led by new models like Elite i20, Xcent, coupled with festival buying.

"We anticipate that this positive momentum would build up further with increase in sales of entry buyers if there is strong promise of improvement in economic and macro factors in rural and urban markets," he added.
 

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TiE The Knot: A platform for early stage entrepreneurs

Catch the second edition of TiE The Knot in partnership with TiE Delhi-NCR. TiE The Knot is a platform where early stage entrepreneurs are battling it out to raise funds from some of India's top venture capitals and angels. Watch how four start-ups strike a deal and will walk away with over Rs 6.5 crore in funding.

Catch the second edition of TiE The Knot in partnership with TiE Delhi-NCR. TiE The Knot is a platform where early stage entrepreneurs are battling it out to raise funds from some of India's top venture capitals and angels. Watch how four start-ups strike a deal and will walk away with over Rs 6.5 crore in funding.

21.03 | 0 komentar | Read More

Storyboard: Mindshare's Big Data to improve targeting

Storyboard editor Anant Rangaswami caught up with Mindshare's APAC COO, R Gowthaman to understand the implications of Big Data and how brands will profit from it.

Age, Gender and Income, use of such demographics to target consumers may soon be a thing of the past. Welcome Big Data which can help map consumer preferences or taste graph which Group M's Mindshare believes will improve targeting and deliver better results for brands.

Storyboard editor Anant Rangaswami caught up with Mindshare's APAC COO, R Gowthaman to understand the implications of this change and how brands will profit from it.

For full show watch video.

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VE Commercial Vehicles sales up marginally in October

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors, had sold 3,001 units in the same month last year.

Auto maker VE Commercial Vehicles today reported a marginal increase in total sales of its Eicher branded products at 3,052 units in October.

The company, which is a 50:50 joint venture between Volvo Group and Eicher Motors , had sold 3,001 units in the same month last year.

Domestic sales registered a decline of 5.42 per cent to 2,494 units in October this year as against 2,637 units in the same month year ago, VE Commercial Vehicles (VECV) said in a statement.

However, exports of Eicher trucks and buses grew by 53.29 per cent to 558 units last month as against 364 units in October 2013, it added.

Eicher Motors stock price

On October 31, 2014, Eicher Motors closed at Rs 12769.50, up Rs 222.05, or 1.77 percent. The 52-week high of the share was Rs 12837.60 and the 52-week low was Rs 3855.00.

The company's trailing 12-month (TTM) EPS was at Rs 158.68 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 80.47. The latest book value of the company is Rs 303.07 per share. At current value, the price-to-book value of the company is 42.13.

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Toyota Kirloskar sales down 12% in October

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

Toyota Kirloskar Motor today reported 11.94 percent decline in total sales at 13,716 units in October 2014.

The company had sold 15,576 units in the corresponding month of previous year, Toyota Kirloskar Motor (TKM) said in a statement.

In the domestic market, TKM sold 12,556 units in October 2014, down 4.6 per cent as compared to 13,162 units in October 2013. During the month, the company exported 1,160 units of Etios.

Commenting on the sales performance, TKM Senior Vice President (Sales and Marketing) N Raja said: "We have maintained the sales volumes as September, in the domestic market and hope to see growth in the next two months".

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