JSL says no plans to sell stake in Jindal Stainless (Hisar)

Jindal Stainless (JSL) Wednesday said it has no plan to sell stake in Jindal Stainless (Hisar), but will list the demerged entity on domestic bourses after getting court's approval for the proposed business restructuring.

Jindal Stainless  (JSL) Wednesday said it has no plan to sell stake in Jindal Stainless (Hisar), but will list the demerged entity on domestic bourses after getting court's approval for the proposed business restructuring.

"There are no such plans for JSHL. The demerged entity is being created to unlock value for shareholders. The listing process will be initiated post the high court approval," said company's ED and CFO J P Verma.

He was replying to a question on whether JSL is planning to sell stake in JSHL after the proposed restructuring of its businesses.

The Board of the country's largest stainless steelmaker earlier this week gave approval to restructure its business that includes demerging of JSHL and listing it on the domestic bourses, aimed at boosting profitability and paring debt.

Under the planned scheme, JSL proposes to demerge ferro alloys and mining divisions and vest them with JSHL. It also plans to transfer stainless steel making facilities in Hisar to JSHL.

JSL would continue to have its Odisha-based stainless steel manufacturing operation, ferro alloys plant and captive power plant, Verma said.

"JSL currently has a term debt in excess of Rs 8,500 crore, which is expected to get reduced on account of the rejig by more than Rs 5,000 crore," he added.

Announcing the proposed restructuring of its businesses, JSL said the objective of the scheme was unlocking value for shareholders to increase profitability, reduction of the debt and improvement of the serviceability of the debt.

The scheme also aims to increase capacity utilisation, enable the backward integration, ensure long-term stability and focused management of different business verticals.

Jindal Stainles stock price

On December 30, 2014, Jindal Stainless closed at Rs 43.20, up Rs 3.50, or 8.82 percent. The 52-week high of the share was Rs 64.40 and the 52-week low was Rs 28.50.

The latest book value of the company is Rs 8.51 per share. At current value, the price-to-book value of the company was 5.08.

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Microsoft sues C-Cubed Solutions for technical support scam

Technology giant Microsoft has sued an Indian company along with several other entities alleging that they misused its name and registered trademarks while providing fraudulent technical support services to unsuspecting consumers.

Microsoft's Digital Crimes Unit filed a civil lawsuit earlier this month in federal court in the Central District of California for unfair and deceptive business practices and trademark infringement against C-Cubed Solutions, which is a "private business company formed under the laws of India", Omnitech Support based in California and Florida-based Anytime Techies along with two other individuals.

According to the lawsuit, C-Cubed is a "private company associated under the laws of India." Its directors include Marc Haberman, Rachel Eilat Haberman and Jay Wurzberger. C-Cubed is a subsidiary of California-based Customer Focus Services (CFS) and "operates the mail server by which CFS' fraudulent technical support businesses communicate with customers," according to the lawsuit.

Microsoft is demanding a jury trial and seeking permanent injunction to restrain and enjoin the defendants from infringement of Microsoft's registered trademarks and from directly or indirectly engaging in false advertising or promotions regarding the quality or security of Microsoft software.

The technology giant alleged in the lawsuit that the defendants used and misused the Microsoft name and its registered trademarks without authorisation in connection with the provision of phony technical support services.

The defendants used the Microsoft trademarks to enhance their credentials and confuse customers about their affiliation with Microsoft, the lawsuit alleges.

They then used their enhanced credibility to convince consumers that their personal computers are infected with malware in order to sell them unnecessary technical support and security services to clean their computers.

In some instances, the defendants actually created security issues for consumers by gaining access to their computers and stealing information stored on them, the lawsuit alleges.

"Many of these technical support companies are able to gain victims' trust by claiming they work for Microsoft, are a Microsoft Certified Partner or somehow affiliated with Microsoft," Microsoft Digital Crimes Unit Senior Attorney Courtney Gregoire said in a blog post

"In some instances, once the tech scammer gains remote access to a consumer's computer, they will use scare tactics ? telling the consumer that if they do not pay for support services they will lose all of their files, suffer a computer crash, or risk the leak of personal identifiable information," Gregoire said.

Since May 2014, Microsoft has received over 65,000 customer complaints regarding fraudulent tech support scams. It said tech support scammers do not discriminate and will go after anyone and not surprisingly senior citizens have been among the most vulnerable.

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IOC website hacked by a Turkish group

IOC's website www.iocl.com showed a message from TurkGuvenligi which claimed the site has "HACKED". It said, "hacking is not a crime".

Website of Indian Oil Corp , the nation's largest company, was today hacked purportedly by a Turkish group.

IOC's website www.iocl.com showed a message from TurkGuvenligi which claimed the site has "HACKED". It said, "hacking is not a crime".

TurkGuvenligi, according to its twitter account, is a hacking group focused on network systems.

An IOC official said they are trying to bring the site back. "We are resolving the issue," he said.

IOC stock price

On December 30, 2014, Indian Oil Corporation closed at Rs 331.60, down Rs 1, or 0.3 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 194.50.

The company's trailing 12-month (TTM) EPS was at Rs 41.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 8.01. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.22.

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JSPL, JPL pay Rs 3,089 cr additional levy to govt

Jindal Steel and Power, along with its subsidiary Jindal Power, has deposited Rs 3,089.25 crore as additional levy to the government, as per the Supreme Court directions in coal block allocation scam.

Jindal Steel and Power , along with its subsidiary Jindal Power, has deposited Rs 3,089.25 crore as additional levy to the government, as per the Supreme Court directions in coal block allocation scam.

While JSPL has deposited Rs 1,989.83 crore; Jindal Power has paid Rs 1,099.41 crore, Jindal Steel and Power (JSPL) said in a BSE filing Wednesday.

This will clear the way for the two firms to participate in the auctioning of coal mines.

While quashing allocation of 214 out of 218 coal blocks alloted to various companies since 1993, the apex court had in September also directed allottees to pay an additional levy of Rs 295 a tonne of coal extracted to compensate financial loss caused to the exchequer by the "illegal and arbitrary" allotments.

Jindal Power operates two coal blocks (Gare Palma IV/2 and IV/3) and JSPL one block (Gare Palma IV/1) in Chhattisgarh.

The deadline for paying additional levy ends today. The government had earlier said that those who would fail to pay additional levy within the stipulated date would be barred from participating in the auction process.

Subsequently, both JSPL and Jindal Power approached the apex court seeking time to pay penalty. The two firms also prayed that they be allowed to participate in the auction process without paying the penalty by December-end.

The Supreme Court, however, rejected their pleas.

The Supreme Court judgement on quashing allocations of coal blocks hit the Naveen Jindal-led firms the hard.

It has also scrapped a USD 10 billion coal-to-liquid project at Angul in Odisha after the allotted mine for the project got cancelled.

"The payment/deposit of additional levy is without prejudice to company's legal rights and remedies but not limited to challenge the imposition and computation of the additional levy and reserves all its legal rights to challenge this computation," JSPL said in the filing.

Jindal Steel stock price

On December 30, 2014, Jindal Steel & Power closed at Rs 151.85, up Rs 0.25, or 0.16 percent. The 52-week high of the share was Rs 350.00 and the 52-week low was Rs 125.05.

The company's trailing 12-month (TTM) EPS was at Rs 15.19 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 10. The latest book value of the company is Rs 142.79 per share. At current value, the price-to-book value of the company is 1.06.

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Glenmark gets shareholders' nod to raise up to $ 300 mn

In a filing to the BSE, the company said its proposal to issue securities not exceeding USD 300 million was approved by with 96.07 percent votes in favour through postal ballot.

Glenmark Pharmaceuticals  has received shareholders' nod to raise up to USD 300 million (around Rs 1,890 crore) through issue of securities.

In a filing to the BSE, the company said its proposal to issue securities not exceeding USD 300 million was approved by with 96.07 percent votes in favour through postal ballot.

Shareholders also approved hiking the shareholding limit for foreign institutional investors FIIs)/RFPIs from 40 percent up to an aggregate limit of 49 percent of the paid up share capital of the company, it added.

Shares of Glenmark Pharmaceuticals today closed at Rs 770.35 per scrip on BSE, down 0.41 percent from their previous close.

Glenmark stock price

On December 30, 2014, Glenmark Pharma closed at Rs 770.35, down Rs 3.2, or 0.41 percent. The 52-week high of the share was Rs 840.10 and the 52-week low was Rs 496.20.

The company's trailing 12-month (TTM) EPS was at Rs 15.87 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 48.54. The latest book value of the company is Rs 107.12 per share. At current value, the price-to-book value of the company is 7.19.

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Govt seeks $137mn from ADB to develop infra in JK, K'taka

"This loan from the ADB's Ordinary Capital Resources has a 25-year term including a grace period of five years," said a Finance Ministry release.

The Centre has signed agreements with Asian Development Bank (ADB) for grants worth USD 136.8 million for infrastructure development in Jammu & Kashmir and Karnataka.

In one of the agreements, the government has sought a USD 60 million loan to help improve water supply and urban transport infrastructure in Jammu & Kashmir.

"This loan from the ADB's Ordinary Capital Resources has a 25-year term including a grace period of five years," said a Finance Ministry release.

This is the third tranche loan under the Jammu & Kashmir Urban Sector Development Investment Program and it aims to supplement the urban infrastructure up-gradation scheme initiated under Project 1 and Project 2.

"About half-a-million people in Srinagar and Jammu will benefit from improved access to water supply, functional drainage systems and better transport infrastructure," the release said.

As per two other separate agreements, ADB will provide USD 75 million and USD 1.8 million loans, carrying a term of 25 years, for improving water resource management in three towns in Karnataka in Upper Tungabharda sub-basin.

The loan agreement aims to improve water resource management in urban areas, modernise and expand urban water supply and sanitation, it said.

"Innovative instruments, such as public-private partnership (PPP) or reform oriented incentive funds will also be pursued. The programme will seek to assist more fragile environments increasingly affected by water resource degradation often located in North Karnataka.

"It will also promote climate-resilient development, capacity-development for conducive adaptation," the release said.

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RPP Infra expects to end FY15 with Rs 800 cr orderbook

A Nithya, whole time director, RPP Infra , in an interview to CNBC-TV18 spoke about the outlook for the company going forward. The company has targets FY15 revenues of Rs 275-280.

The company bagged Rs 48.4 crore new orders from Tamil Nadu Water Supply & Drainage Board. It had also won orders worth Rs 150 crore in the third quarter.

The orderbook for the company as on December stands at Rs 680 crore but Nithya expects the orderbook to increase to Rs 800 crore by end of FY15.

Below is the transcript of A Nithya's interview with Reema Tendulkar and Ekta Batra on CNBC-TV18.

Ekta: We just spoke to you recently about an order win from the Tamil Nadu Water Supply division, so would this Rs 48.4 crore a new order that you have received be from the same division and more details on that?

A: It is a new order. The previous order belongs to Udumalpet and this order belongs to Tindivanam. So this is a new order.

Reema: The company has been winning a lot of small ticket orders in the last few months overall in Q3 that is in the October to December period what was the total quantum of order wins?

A: It is about Rs 150 crore.

Reema: What is the deal pipeline looking like? Are you likely to be winning some more orders?

A: Yes, we have about Rs 350 crore orders in L1 position.

Ekta: How much of an opportunity is the Tamil Nadu Water Supply and Drainage board for you to get even more orders from, you have already done around Rs 80 crore from them in the past two weeks, how much more can we expect?

A: No, in Tamil Nadu Water and Drainage board, this is the last order and others are from Karnataka. We have participated in three tenders from Karnataka, which are worth about Rs 180 crore.

Ekta: When will you hear from them?

A: We are expecting this after January 2015.

Reema: With these recent order wins as well as the deal pipeline, what is the company likely to clock in in terms of FY15 revenues?

A: We are expecting around Rs 275-280 crore. The profit after tax (PAT) will be about 5.5-6 percent.

Ekta: What would your total order book stand at then finally now? Last time we spoke to you, it was at Rs 648 crore, how much do you think you can push it up to by the end of this fiscal?

A: As on December 31, it will be Rs 680 crore.

Ekta: By March, how much do you think it will be?

A: It will be up to Rs 850 crore.

RPP Infra Proj stock price

On December 30, 2014, RPP Infra Projects closed at Rs 124.85, up Rs 1.05, or 0.85 percent. The 52-week high of the share was Rs 165.00 and the 52-week low was Rs 40.40.

The company's trailing 12-month (TTM) EPS was at Rs 4.19 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 29.8. The latest book value of the company is Rs 53.08 per share. At current value, the price-to-book value of the company is 2.35.

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See FY15 sales at Rs 70cr; EBITDA at Rs 12 cr: Career Point

In an interview to CNBC-TV18, Pramod Maheshwari, CMD and CEO,  Career Point Infosystems shares his views on the MOU signed with Rajasthan government for skill development courses.

Below is the verbatim transcript of Pramod Maheshwari's interview with Ekta Batra & Reema Tendulkar on CNBC-TV18.

Ekta: Tell us about your tie-up with regards to the Rajasthan government, can you tell us what this would mean in terms of financial basis for you?

A: We have signed MoU with Rajasthan government for three years. It provides us an opportunity to train 1,500 youth in the first tranche. However, for each student we train, government gives us Rs 10,000-15,000. The total number of youth with government targeted to train in next three years is more than 10 lakh. So initially for the first tranche we will be getting Rs 2 crore and once we complete this target then government will give us next order.

Reema: Overall how is this year shaping up for you? What do you expect to clock in, in terms of FY15 revenues as well as profits?

A: We are expecting the topline to be Rs 70 crore and EBITDA would be close to Rs 12 crore.

Ekta: Would such opportunities might arise going forward from other states and even from Rajasthan. Can you give us a sense in terms of whether you are talking to other state governments and whether you are talking more to Rajasthan to extend this MoU?

A: We have given proposal to the Rajasthan government to train 1 lakh youth in two years time from now and they have accepted our proposal and given first order to train 1,500 youth in the following quarter. We are expecting that based on our understanding of vocational education market we will be able to achieve this target in quarter time and then government will give us more opportunity. I would also like to mention here that vocational and skill development sector is a key focus of central government as well and also many state governments. We are in initial discussion with other governments also and looking forward to get similar kind of MoU with other state governments and central governments.

Ekta: Your initial target was Rs 2 crore from this first tranche of training that you will receive. What is your ballpark figure, how much more do you think this vocational training for state governments can generate in terms of revenue for you, a ballpark figure of 10 crore over FY15 or Rs 12 crore. How much are you working internally with?

A: Rs 2 crore for this financial year and Rs 20 crore for the full year.

Reema: Very recently the company's arm got the Reserve Bank of India (RBI) nod to carryout NBFC business. Can you walk us through the financial implications of that?

A: We are in education business where we run college, universities and tutorial institutes. We have observed that students are not getting loans; the process of the bank finance and education loan is tedious and slow, so we with an objective to provide loan to students seeking for higher education, we started this company. We just got the approval from RBI and within a month's time we will start operation. I am expecting by next year in FY16 our loan portfolio would be close to 25 crore in education loan space.

Ekta: What is the ticket size of loans and why would you look to diversify from your core business operations?

A: The ticket size would be Rs 4 lakh to Rs 10 lakh per student. We are not diversifying as such. We are just strengthening our presence in education space by proving additional support to students who are looking forward to get financial assistance to pursue their career objectives.

Career Point stock price

On December 30, 2014, Career Point closed at Rs 170.35, up Rs 22.80, or 15.45 percent. The 52-week high of the share was Rs 177.05 and the 52-week low was Rs 67.10.

The company's trailing 12-month (TTM) EPS was at Rs 3.82 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 44.59. The latest book value of the company is Rs 179.00 per share. At current value, the price-to-book value of the company is 0.95.

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'SpiceJet asked to pay $31.5 mn to state airport operator'

A senior government official said the aviation ministry would decide the next course of action in case the airline didn't pay by the deadline.

The state-run airport operator has asked troubled budget carrier  SpiceJet Ltd to deposit 2 billion rupees (USD 31.5 million) by December 31, failing which the airline could be put in the so-called cash-and-carry mode, a senior government official said on Tuesday.

SpiceJet has so far given a bank guarantee of 825 million rupees of the total due, the official, who declined to be named, told reporters in New Delhi. He said the aviation ministry would decide the next course of action in case the airline didn't pay by the deadline.

Cash-strapped SpiceJet needs urgent funding to continue operations smoothly. It was forced to briefly ground its aircraft this month as suppliers refused to fuel them.

Co-founder Ajay Singh is leading a rescue plan for the airline and could team up with private-equity players to infuse funds, government officials have said previously.

SpiceJet stock price

On December 30, 2014, SpiceJet closed at Rs 17.80, down Rs 0.9, or 4.81 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.08.

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Oil firms face Rs 10K cr inventory loss, depreciating rupee

Indian Oil Corp  (IOC) and other state-run fuel retailers have piled up inventory loss of over Rs 10,000 crore which together with depreciating rupee has severely strained their finances ahead of a revision in petrol and diesel prices.

IOC along with Hindustan Petroleum Corp Ltd ( HPCL ) and Bharat Petroleum Corp Ltd ( BPCL ) are to decide on revising petrol and diesel prices tomorrow, amidst clamour for a rate cut on falling crude oil prices.

The firms, however, rue that petrol and diesel prices are not set based on trends in crude oil prices. They are benchmarked against internationally traded rates of gasoline (for petrol) and gas oil (for diesel) as well as rupee-dollar exchange rate.

Industry sources said rupee has depreciated against the US dollar since the last revision on December 16, making imports costlier.

Rupee has averaged Rs 63.46 to a US dollar since then as against Rs 61.95 factored in the last price cut.

On top of this, margins, which is differential between raw material (crude oil price) and product rate, has halved to USD 8-9 per barrel, they said.

While the slump in international crude oil prices had resulted in successive cuts in petrol and diesel prices, for oil companies they had meant inventory losses as they would typically buy crude at one rate but by the time it is processed and marketed its market value would have come down.

In April-September, the three state oil firms had an inventory loss of Rs 5,300 crore which has risen by "two to three times" since then, a top source said.

Oil firms feel people should look at the complete picture and not just base their expectations for a cut in retail prices on crude oil rates alone.

A cut in prices as per the fortnightly practice of revising rates on 1st and 16th of every month, can be announced tomorrow evening only at the expense of oil companies, they said.

Petrol and diesel prices were last cut on December 16 by Rs 2 per litre each. This was the eighth straight reduction in petrol prices since August, and fourth in diesel since October.

Petrol in Delhi today costs Rs 61.33 a litre, the lowest in 44 months. Diesel costs Rs 50.51 a litre, the lowest since July 2013.

Since August, petrol price have been cut by Rs 12.27 per litre on a cumulative basis while diesel rates in four downward revisions have been slashed by Rs 8.46 a litre.

The price cuts would have been steeper but for the government deciding to make hay out of the crude oil rate slump to around USD 60 per barrel. It raised excise duty on petrol by Rs 3.75 and by Rs 2.50 a litre on diesel to mop up Rs 10,600 crore.

Crude oil price in June was USD 115 per barrel.

IOC stock price

On December 30, 2014, Indian Oil Corporation closed at Rs 332.30, up Rs 0.55, or 0.17 percent. The 52-week high of the share was Rs 410.90 and the 52-week low was Rs 194.50.

The company's trailing 12-month (TTM) EPS was at Rs 41.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 8.03. The latest book value of the company is Rs 271.80 per share. At current value, the price-to-book value of the company is 1.22.

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Here's how 2014 fared for Indian realty sector

CNBC-TV18's Manasvi Ghelani takes a look at the year that was for the real estate space.

After a sluggish 2013, the change at the helm of the nation this year ushered in new expectations and highs for the real estate sector. But optimism apart, the sector also had to face its own share of challenges. CNBC-TV18's Manasvi Ghelani takes a look at the year that was for the real estate space.

Watch video for more.

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LT Hydrocarbon bags Rs 894 cr offshore contract from ONGC

The company's fully-owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged the contract on complete turnkey basis from ONGC to improve recovery factor of Vasai East field where production started in 2008, and it is scheduled to be completed by April 2016

Larsen & Toubro  (L&T) today said it has bagged an offshore contract worth Rs 894 crore from  Oil & Natural Gas Corporation (ONGC) for additional development of the Vasai East project.

The company's fully-owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged the contract on complete turnkey basis from ONGC to improve recovery factor of Vasai East field where production started in 2008, and it is scheduled to be completed by April 2016, a release issued here said.

"The contract includes total engineering, procurement, construction and installation of two wellhead platforms, subsea pipelines and modification of existing facilities in Heera-Panna-Bassein block of Mumbai offshore," it said.

The Rs 2,500 crore project will result in incremental oil production of 1.83 million metric tonne (MMT) and incremental gas production of 1.971 billion cubic metres (BCM) by 2030. "This contract reiterates the long-term association of ONGC with L&T in the development of offshore fields in India," the company said.

Larsen stock price

On December 29, 2014, Larsen and Toubro closed at Rs 1492.30, up Rs 2.25, or 0.15 percent. The 52-week high of the share was Rs 1774.70 and the 52-week low was Rs 951.60.

The company's trailing 12-month (TTM) EPS was at Rs 63.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 23.49. The latest book value of the company is Rs 362.41 per share. At current value, the price-to-book value of the company is 4.12.

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Vardhman Textiles sees Q3 margins, revenues under pressure

Vardhman Textiles is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.

Neeraj Jain, Joint Managing Director,  Vardhman Textiles in an interview to CNBC-TV18 spoke about his expectations from the third quarter results and outlook for the company going forward.

According to him Q3 is not expected to be a great quarter and revenues could be in single digits or early double digits as compared to around 18 percent reported in Q2. Jain said margins to also come under pressure because most of the Indian spinning companies were holding on to cotton and when the cotton prices worldwide came down September, the yarn prices got adjusted with the cotton price.

However, fourth quarter could be better, he added

With Vardhman Group set to invest Rs 560 crore for setting up weaving and fabric units in Himachal Pradesh's Baddi town, Jain said the project will be completed in 18 months and will add 250 looms to the weaving capacity, which in turn will help consolidate the overall fabric business.

The company is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.
 
transcript to follow

Vardhman Text stock price

On December 29, 2014, Vardhman Textiles closed at Rs 455.75, up Rs 8.80, or 1.97 percent. The 52-week high of the share was Rs 529.00 and the 52-week low was Rs 324.10.

The company's trailing 12-month (TTM) EPS was at Rs 82.88 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 5.5. The latest book value of the company is Rs 447.48 per share. At current value, the price-to-book value of the company is 1.02.

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To meet growing demand by adding capacity: Visagar Polytex

In an interview to CNBC-TV18, Tilokchand Kothari, Managing Director at Visagar Polytex shares his outlook on the financial performance of the company in the quarter gone by and the road ahead.

Currently, salwar suit is estimated to be a Rs 20,000 crore plus industry

Tilokchand Kothari

Managing Director

Visagar Polytex

In an interview to CNBC-TV18, Tilokchand Kothari, Managing Director at Visagar Polytex  shares his outlook on the financial performance of the company in the quarter gone by and the road ahead.

Going ahead, the company plans to add more capacity to meet increasing demand. In addition, fund expansion aided by internal accruals and debt is on the cards, he adds.

Below is the edited transcript of the interview:

Q: Can you just apprise our viewers about what the company does. We do understand that you do work in textiles and mainly ethnic wear but can you give us a sense in terms of what your main products are, where do you get majority of your revenues from and what are the divisions that the company works in?

A: Our product line includes various fabrics in the non-branded market with wide range of sarees and lehengas. Going a step ahead from existing product line, we have introduced a new product, which is salwar suit. Currently, salwar suit is estimated to be a Rs 20,000 crore plus industry and a sizeable chunk of ethnic wear in the market. Given the fact that this quarter was full of wedding and festivals we are very much optimistic about this quarter result. Due to aggressive marketing done by our team, we expect to be much better than the previous quarter and we are also expecting good results in the years to come because of our expansion in the retail sector through our franchisee.

Q: But what about the whole of FY15? What about the whole of FY15, what are you likely to end the year with in terms of revenues as well as margins?

A: Our current capacity is approximately 125 billion stitches per annum. We have recently announced our plants to have around 200 VIVIDHA franchise showrooms across the country. We plan to meet this increased demand through captive production, hence the proposed capacity will be much higher and the new machinery will be installed as per the increasing demand. Requirement of funds for this capacity increase will be met out through our existing resources and the bankers. We have already sanctioned the term loan from the bank.

Q: Can you tell us what other segments do you all work in. For example how much of your revenue only comes from textile?

A: In the first quarter, we got a revenue of Rs 20 crore and we are expecting a very good revenue through the years to come.

Q: That is understood, but do you have any other businesses, do you have any real estate in your portfolio, which you would look to monetise at some point in time, any sort of infrastructure that you have which you might look to monetise as well?

A: No, presently we are only in textile. Our group companies are into media also. So we are expanding textile, we are in the bridal wear and saree business.

Visagar Polytex stock price

On December 29, 2014, Visagar Polytex closed at Rs 787.55, down Rs 16, or 1.99 percent. The 52-week high of the share was Rs 864.95 and the 52-week low was Rs 65.60.

The company's trailing 12-month (TTM) EPS was at Rs 0.98 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 803.62. The latest book value of the company is Rs 14.42 per share. At current value, the price-to-book value of the company is 54.62.

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Cabinet clears hiking stake in IFCI to 51%

Government Monday approved raising its stake in IFCI Ltd to 51 percent by infusing Rs 60 crore in the country's oldest financial institution.

Government Monday approved raising its stake in  IFCI Ltd to 51 percent by infusing Rs 60 crore in the country's oldest financial institution.

"The Union Cabinet chaired by Prime Minister, Narendra Modi, approved infusion of Rs 60 crore in Industrial Finance Corporation of India (IFCI) Ltd to make it a government company by way of acquisition of preference shares from existing shareholder(s)," an official statement said.

IFCI was set up in 1948 as a statutory corporation under the Industrial Finance Corporation Act, 1948. The Act has since been repealed by the Industrial Finance Corporation
(Transfer of Undertaking and Repeal) Act, 1993 and IFCI Ltd was registered under the Companies Act, 1956 on March 31, 1993, it said.

The current shareholding of Government of India in IFCI after inclusion of the preference share capital was 47.93 percent, it said.

Therefore, IFCI is not a Government Company under section 2(45) of the Companies Act, 2013.

A contribution of Rs 60 crore to the capital of the company would raise the shareholding of the Government to 51 percent.

The Finance Ministry had sought the Cabinet approval to hike its stake in the IFCI to 51 percent by pumping in Rs 60 crore, and make it a 'government company'.

IFCI's total paid-up capital of about Rs 1,925 crore comprised Rs 1,662 crore as equity capital and nearly Rs 264 crore as preference share capital.

IFCI stock price

On December 29, 2014, IFCI closed at Rs 37.70, up Rs 1.60, or 4.43 percent. The 52-week high of the share was Rs 44.90 and the 52-week low was Rs 21.80.

The company's trailing 12-month (TTM) EPS was at Rs 3.50 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 10.77. The latest book value of the company is Rs 40.42 per share. At current value, the price-to-book value of the company is 0.93.

21.04 | 0 komentar | Read More

India working to fix e-commerce payments post-Uber case:Guv

The central bank is working to set a legal framework for the use of advanced e-commerce technologies but in the meantime no one can treat the absence of a solution as an excuse to violate Indian rules, Rajan told NDTV television.

US taxi-hailing company Uber Technologies violated Indian regulations by "bypassing" rules when it used an overseas gateway to conduct transactions in the country, Reserve Bank of India Governor Raghuram Rajan said in a television interview.

The central bank is working to set a legal framework for the use of advanced e-commerce technologies but in the meantime no one can treat the absence of a solution as an excuse to violate Indian rules, Rajan told NDTV television.

"We are willing to work to try and solve the problem, in fact we have some solutions which are coming up on doing low value transactions without too much 'jhanjhat' (hassle) as they call it," Rajan said in the interview telecast on Friday night. "But the point is you cannot violate regulations."

Earlier this year, local taxi companies complained that Uber - which directly processed payments using a customer's stored credit card information - was not following India's two-step verification for all e-commerce transactions.

In August, the RBI instructed that by Oct. 31, all transactions done with domestic credit cards had to follow the two-step verification process.

After the RBI order, Uber changed its payment method and partnered with an India-based virtual wallet provider, Paytm.

"One of the things we need to do to avoid crony capitalism is have rule of law. So our point was obey our regulation, we will work with you to fix it, to make it more useful for you," Rajan said.

Uber did not respond to request for comment on the governor's remarks.

At present, Uber is not operating in New Delhi. On Dec. 8, the Indian government banned Uber from operating in the capital after one of the company's drivers was arrested for allegedly raping a female passenger.

21.04 | 0 komentar | Read More

Planned turnaround at Nagothane manufacturing site: RIL

Reliance Industries Ltd. (RIL) has scheduled a planned turnaround at its Nagothane manufacturing site. The cracker and some of the downstream units will be shut for approximately four weeks, starting around mid-January 2015.

Reliance Industries Ltd. (RIL)  has scheduled a planned turnaround at its Nagothane manufacturing site. The cracker and some of the downstream units will be shut for approximately four weeks, starting around mid-January 2015.

This opportunity will be used to carry out routine maintenance activities and for implementing other profit improvement and energy conservation measures. RIL's crackers and other downstream units at other locations will continue at normal levels of operations.

With advance planning and inventory management, impact on external sales is likely to be minimal.

Disclosure: Network 18, which publishes moneycontrol.com, is part of the Reliance Group.

Reliance stock price

On December 26, 2014, Reliance Industries closed at Rs 889.00, up Rs 2.20, or 0.25 percent. The 52-week high of the share was Rs 1142.50 and the 52-week low was Rs 794.00.

The company's trailing 12-month (TTM) EPS was at Rs 69.65 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 12.76. The latest book value of the company is Rs 609.19 per share. At current value, the price-to-book value of the company is 1.46.

21.04 | 0 komentar | Read More

Microsoft looking forward to be part of Digital India

Microsoft CEO Satya Nadella met IT minister Ravi Shankar Prasad on Friday. The tech honcho is looking forward to be a part of Digital India. Nadella believes the world is moving to be a more 'cloud and mobile world.'

Microsoft CEO Satya Nadella met IT minister Ravi Shankar Prasad on Friday. The tech honcho is looking forward to be a part of Digital India. Nadella believes the world is moving to be a more 'cloud and mobile world.'

"Our engagement on both these fronts is what you will see if you look at what we are trying to do with the cloud. One of the unique capabilities that we have is to help build data centers that are locally available in India but yet are world class infrastructure. But on top of that, we also have our server infrastructure which enables every business to have its own flexibility in standing up its data centre," he added. 

Nadella is in the country to spend his first Christmas with his family after taking up the top job at Microsoft.

21.04 | 0 komentar | Read More

Nadella discusses Digital India, eCom with PM, FM, IT Min

Besides Modi, India-born Nadella also met Finance Minister Arun Jaitley and Telecom Minister Ravi Shankar Prasad and discussed modernisation and security of the government's digital infrastructure, among other issues.

Keen to invest more in India, Microsoft's chief Satya Nadella today pledged support to Prime Minister Narendra Modi's Digital India initiative.

Besides Modi, India-born Nadella also met Finance Minister Arun Jaitley and Telecom Minister Ravi Shankar Prasad and discussed modernisation and security of the government's digital infrastructure, among other issues.

"It was a courtesy visit. Microsoft is the company that is a multinational but is operating in India for India and Indian businesses...

"In every meeting ofcourse both 'Digital India' and 'Make in India' are top of mind and for us, top of mind in terms of our contribution to India," Nadella said after his meeting with Jaitley.

This was his second visit to India since taking over as global CEO of USD 86-billion technology giant Microsoft. Sources in the Finance Ministry said Nadella had informed Jaitley that Microsoft was keen on "investing more" in India.

"The Minister (Prasad) shared with Mr Nadella the initiative of Digital India taken by this government headed by the Prime Minister. He told the Microsoft CEO that Digital India is designed to bridge the gap between haves and have-nots," Communication and IT Ministry said in a statement.

Prasad also shared with him India's potential in the field of e-Commerce and how connectivity can play a role in harnessing this potential, he added.

"The Minister further urged Microsoft to work towards digital literacy in India... The Minister also informed about the incentives for promoting electronic manufacturing in India as a part of Make in India," it said.

Microsoft is keen on collaborating with the government in providing last mile Internet connectivity, especially through the Wi-Fi technology, the statement added.

Nadella also shared his ideas on modernisation of government with Prasad stating that Microsoft can help in building secure government controlled digital infrastructure.

Other issues like data security and domestic electronic manufacturing were also discussed.

21.04 | 0 komentar | Read More

Checkout Narayana Murthy mentor 3 SP Jain students

Watch NR Narayana Murthy, Co-Founder, Infosys mentoring three students from SP Jain and answering their queries.

Watch NR Narayana Murthy, Co-Founder, Infosys mentoring three students from SP Jain and answering their queries.

Watch videos for more…

21.04 | 0 komentar | Read More

SpiceJet has cleared employee salaries, fuel dues: CEO

Money-losing SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month for want of cash. Its majority owner, billionaire Kalanithi Maran's Sun Group, has said it cannot afford a bailout.

Troubled carrier  SpiceJet Ltd has paid employees' salaries for November and cleared dues of fuel companies as of Friday, its chief operating officer said.

Sanjiv Kapoor met senior officials in the aviation ministry on Friday along with co-founder Ajay Singh, who sources have said is planning to team up with private-equity funds to infuse funds in to the carrier.

Money-losing SpiceJet had delayed employees' salaries for November and briefly grounded its fleet this month for want of cash. Its majority owner, billionaire Kalanithi Maran's Sun Group, has said it cannot afford a bailout.

SpiceJet has bank loans of USD 47 million, Kapoor said, adding Friday's meeting was "very constructive". He did not elaborate.

Singh and government officials were not immediately available to comment.

SpiceJet stock price

On December 26, 2014, SpiceJet closed at Rs 19.25, up Rs 1.60, or 9.07 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.17.

21.03 | 0 komentar | Read More

Culture shift biggest challenge for Infosys in '15: Sikka

The company is also planning to focus on reusability of components and capabilities.

Infosys  is charting out its plans for 2015 and CEO, Vishal Sikka has given analysts a glimpse of what to expect. He says the biggest challenge facing the software major in 2015 will be bringing a cultural shift.

Sikka believes Infy will be a service company that uses software in a big way. "We have not become a product company," he adds. He also says that Infosys will need to change the mindset, focus on innovation.

The company is also planning to focus on reusability of components and capabilities.

Infosys stock price

On December 26, 2014, Infosys closed at Rs 1950.35, up Rs 16.30, or 0.84 percent. The 52-week high of the share was Rs 4401.00 and the 52-week low was Rs 1447.00.

The company's trailing 12-month (TTM) EPS was at Rs 101.90 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 19.14. The latest book value of the company is Rs 366.51 per share. At current value, the price-to-book value of the company is 5.32.

21.03 | 0 komentar | Read More

Titagarg grp's defence orders stand at Rs 130 cr: Cimmco

In an interview to CNBC-TV18, Umesh Chowdhary, VC and MD,  Cimmco shares his outlook for the company. Cimmco, which is now a subsidiary of the Titagarh group with the latter holding a 75 percent stake in the company, has been bidding aggressively for defence orders.

Titagarh group has an order book of nearly Rs 130 crore from the defence orders. "Nearly, Rs 130-140 crore worth of order book is something that we already have on hand today and this not in Cimmco, this is for the Titagarh group and so, some are in Cimmco and some in Titagarh Wagon," he adds.

Below is verbatim transcript of the interview:

Q: Cimmco is now a subsidiary of Titagarh Wagons. How exactly the assets of Cimmco are going to be utilised? Is it going to be focused more towards defence space and if so how?

A: Absolutely, Cimmco turned into a subsidiary. Earlier, it was a joint holding company between us and 12 promoters. So, it turned into a 75 percent subsidiary of Titagarh earlier this year and we have been able to completely restructure the balance sheet of Cimmco.

When we acquired Cimmco or stepped into the company, it had a negative net worth of about Rs 500-600 crore, secured debt of almost Rs 500 – 600 as of now it has a positive net worth of Rs 160 crore and it has practically no debt. The debt including working capital debt is less than Rs 35 crore.

So, we have been able to acquire a large manufacturing infrastructure. It is spread over 200 acres of plant area which is two or two and half hours from Delhi in the NCR region of Bharatpur and apart from doing wagons there which have been the traditional business of Cimmco we are focusing to develop the infrastructure for the defence business that is coming up pretty well.

Also, one portion of Cimmco we have started doing the agricultural tractors the venture that we have created to do the tractors.

Essentially, the whole idea is that what we acquired in way of acquiring Cimmco is very large infrastructure of such large parcels of land and machinery.

Q: Have you done any kind of valuation for Cimmco as well as the kind of assets it is sitting on including the large land parcel as well as the various manufacturing facilities?

A: No, we have not really got a valuation done as such but to replace an asset of this nature today it is going to be more than the valuation.

It is going to be more like an impossibility to create a factory of 200 acres in the NCR, it is not going to be possible in the foreseeable future to say the least and the advantage that I see is that we have the base available.

We have the hardware available, what we need is the software and the software will come by way of technology partners or developing new products and so on.

Q: How much progress have you made within the defence space already? Have you started bidding for orders? If so, what kind of orders are you bidding for, what is the pipeline looking like, when do you start execution?

A: As a group Titagarh group we already have order book of Rs 130-140 crore from the defence segment. We are doing specialised defence equipments and have participated in many tenders, we have been shortlisted and have achieved RFIs for pretty much all the large defence programs that are going on.

Q: Give us a number?

A: The order book is the number that I can give you, which is about Rs 130 crore odd. Nearly, Rs 130-140 crore worth of order book is something that we already have on hand today and this not in Cimmco, this is for the Titagarh group and so, some are in Cimmco and some in Titagarh Wagon.

The RFIs that we have received will run into several thousands of crores but I don't think that will be fair to make any assessment or take that as a benchmark because of an RFI.

But we have participated in many tenders, I would not like to disclose that we have participated in unless they convert into order book.

21.03 | 0 komentar | Read More

Bharti Airtel VoIP move not very productive: KPMG's Ghosh

Jaideep Ghosh, Partner at KPMG in an interview to CNBC-TV18 spoke on  Bharti Airtel 's move to keep the data usage for the Voice Over Internet Protocol (VoIP) calls outside the data allowance under the bulk data packs.

According to Ghosh this is not such a productive measure for any telecom operator. Instead it is important that all the telecom operators align their business models than restoring to these kinds of short-term measures, feels Ghosh.

Moreover, customers according to him are very intelligent and would find other operators or ways and continue using lower cost calls.

In a move that directly violates the principle of 'net neutrality' (which calls for all data usages to be treated equally), India's largest telecoms firm Bharti Airtel said data used in Internet calls made via Voice over Internet Protocol (VoIP) apps such as Skype or Viber would be billed separately and not part of a subscriber's data packs.

Below is the transcript of Jaideep Ghosh's interview to CNBC-TV18's Senthil Chengalvarayan and Sonia Shenoy & Reema Tendulkar.

Sonia: Data operators at Bharti Airtel and Idea Cellular were aware of this fact for many years that this low cost economics of Skype etc will be hitting their revenues. It is not a new phenomenon so why did Bharti choose to do this right now? Do you think it is because of the fact that Whatsapp will be foraying into internet calls very soon?
A: As you said righty this is not particularly new so my view overall is that telecom operators needs too be relevant and align their business models in tune to reality and what is happening and what is going to happen. So, increasing rates for voice over internet protocol (VoIP) kind of calls may be a short-term measure but then customers will find other ways to mitigate that.

Senthil: If the telecom industry is really facing the threat of commoditisation because of technology do you see other operators following suite?
A: It is a very stagnant question. They need to align their business model. There is the concept of net neutrality. Even in the US now, President Obama is personally very pro net neutrality. What it means is that all the website all content needs to have equal access both in terms of unblocking, nothing need to be blocked, needs to have equal speed of access and need to have equal cost access.

So, this kind of differential packaging clearly is not very pro net neutrality.

Senthil: Is it against law? Because net neutrality is accepted but is not the law so is this against the law? Do you see government is now stepping in and making net neutrality kind of obligatory for all players?
A: It is not a law; there is nothing illegal in doing this. It is a commercial packaging of VoIP calls and stuff which is fine. Nothing to do with law but sooner than later the Telecom Regulatory Authority of India (TRAI) would step in to this. There is already a consultation paper on the over the top (OTT) applications. We potentially would see the TRAI getting slightly more active if they think that it is going entire net neutrality.

Sonia: When you say slightly more active what do you mean because this move does not come without precedence. If you look at what is happening in the US, I understand that the AT&T customers cannot make VoIP calls on their iPhone using their cellular data. So, it is not the first time that it is happening in India, what do you think the regulator will do at this juncture now because as you said this move directly violates the principle of net neutrality?

A: In the US also there are several lobbies, one is of course from a political and a government standpoint - President Obama is pro and some part of Republicans are not very pro net neutrality. However, if there is a internet station which includes Facebook, Google, Amazon, LinkedIn, Twitter, etc they have submitted exactly the opposing memorandum to Federal Communications Commission (FCC) urging them to ban net neutrality.

Google also operates Google Fiber which is an access provider. In their own Google Fiber they don't have any differentiation; they don't prefer Google or Google related traffic with higher speed. So, they maintain complete neutral stance on their own access in the US.

So, I think there are at least broad two main lobbies in the US also and here also I don't know what is going to happen. Typically, in India when one telecom operator does that mostly others tend to follow. However, here as Reema was saying one or two operators may choose not do it and then may use that as a competitive pie to get additional relevant customers who want to use these kind of solutions.

Reema: Would you overall term this move regressive, is it a regressive move by Bharti Airtel in order to meet the changing dynamics of technology?

A: I am not critical of only Bharti Airtel so don't get me wrong. However, I am just saying this is a very short-term measure to kind of increase the price for this kind of services. So, the long-term option should be to see how their business models can align.

Already the operators like Telefónica or others, Vodafone, AT&T they are seeing how can they have partnership with some of these applications and services and get into the business themselves. However, just providing access to consumers has a listed value now that is why SMS has gone down.

Bharti Airtel stock price

On December 26, 2014, Bharti Airtel closed at Rs 354.45, up Rs 0.25, or 0.07 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 12.94. 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 2.12.

21.03 | 0 komentar | Read More

Microsoft looking forward to be part of Digital India

Microsoft CEO Satya Nadella met IT minister Ravi Shankar Prasad on Friday. The tech honcho is looking forward to be a part of Digital India. Nadella believes the world is moving to be a more 'cloud and mobile world.'

Microsoft CEO Satya Nadella met IT minister Ravi Shankar Prasad on Friday. The tech honcho is looking forward to be a part of Digital India. Nadella believes the world is moving to be a more 'cloud and mobile world.'

"Our engagement on both these fronts is what you will see if you look at what we are trying to do with the cloud. One of the unique capabilities that we have is to help build data centers that are locally available in India but yet are world class infrastructure. But on top of that, we also have our server infrastructure which enables every business to have its own flexibility in standing up its data centre," he added. 

Nadella is in the country to spend his first Christmas with his family after taking up the top job at Microsoft.

21.03 | 0 komentar | Read More

Eye receivables worth Rs 45cr by FY15-end: Petron

In an interview to CNBC-TV18, Ajay Hans, managing director,  Petron Engineering Construction shares his views on the latest order bagged by the company.

Below is the verbatim transcript of the interview to CNBC-TV18.

Reema: The company recently won some orders. Could you tell us the total size of the order wins and what the order book currently stands at?

A: This is a recent order that we have bagged and this is around Rs 25 crore, these two projects and the current order backlog is around Rs 1,200 crore for us which is decent considering the size of our company today.

Ekta: Can you tell us what your future bidding will look like and what is the average margin that you would be executing on these orders that you have in hand?

A: Practically, this market is very competitive as we are operating in a very critical industry. We are working for all construction business for civil, mechanical, electrical, instrumental, refractory insulation and commissioning services and these are specifically for industries like cement, steel, power. We are carrying our quite critical works. So as the market is opening, the capital market people are investing, I see good opportunity in near future and margin should certainly be better once more opportunity comes to the market.

Ekta: What about the future bidding. What is your project pipeline in terms of bidding?

A: We are doing very specific bidding with specific clients and we are looking for long-term relationship with the industry and we have a history of getting repeat of orders, like these two orders also, its like repeat order to us, with  NCC we are already executing the mechanical erection package and these are additional package which have been awarded to us for critical piping. Cement and power are two areas where we would be quite prominent in future and we have executed lot of such projects in the past with the industry. Petron is a known entity in the industry for executing these projects.

Reema: For how many more quarters do you expect a loss?

A: We expect to improve every quarter on quarter and as the capital market is going to get open, we expect from the next monsoon onwards lot of order should flow in, there are not enough competent contracts which are available currently specifically carrying out the construction activities and we are doing hardcore construction activities. So we see that good number of order should flow.

Reema: But you still likely to be loss making even through the whole of FY16?

A: Cannot say right now but we would be improving a lot and that's what I can say right now.

Ekta: Can you tell us what your debt cost look like though your finance cost is on a low base, what is concerning is that in the previous quarter it jumped up 30 percent on year on year basis, are you seeing any working capital issues or any delay in payment which is taking place?

A: We are carrying out projects where some of these projects are Gas Authorities of India as well as Indian Oil Corporation where payment terms are back ended. Similarly we are in the stage of completion in many projects or recently completed like Lafarge, Adani Power, so all these payments are now started flowing in and all these projects almost reached at a stage of 90-95 percent completion, so these back ended payments have started coming in which has already eased our liquidity position and cash flow working capital requirement will go down in near future.

Reema: What the current receivables, if you could give us the number as well as the total working capital loans right now?

A: As of date the total working capital loans all together would be in the range of Rs 100 crore and receivables are more than Rs 150 crore as of date.

Reema: How much of these receivables would you receive by the end of this fiscal year that is March 2015?

A: I expect at least 30 percent of these receivables should come in because some of these receivables go on cyclic basis because in construction industry you carry out the work first and then you bill and then you wait for these payments, so it is not advance kind of thing. One-two month kinds of things are always available on credit.

Ekta: Can you give us a sense in terms of who your repeat clients are, for example where do you get majority of your orders from, which clients and how much of your order book comprises of repeat orders versus fresh orders?

A: We are prominent in getting repeat orders and that shows the credibility of Petron in the market like  Indian Oil Corporation though this is a government concern where we get these orders through proper L1 bidding kind of system but in the private sector we are working with Lafarge, we have received orders from  UltraTech around six months back we have received a repeat order from UltraTech from grinding unit in Nagpur, from Madras Cement, which is now known as Ramco Cement , we are getting continuous orders from them for almost more than last five years and we are associated with them for ten years. We target the clients and provide the services in order to get long-term association with them; we look forward for a long-term association and accordingly work for it.

21.03 | 0 komentar | Read More

Plan to undertake more restructuring: Essel Propack

Essel Propack received approval to merge EP Lamitubes (the wholly owned subsidiary of Essel Propack) with Essel Propack and their respective shareholders from the Bombay High Court. Speaking about it Ashok Goel, VC & MD, Essel Propack told CNBC-TV18 that the merger will cut administrative cost related to overseas investments and help imrove profits. The company is also planning to undertake more restructuring.

Below is the transcript of Ashok Goel's interview with Reema Tendulkar and Sumaira Abidi on CNBC-TV18.

Reema: This is a 100 percent subsidiary of the company. So how does this merger helped the company, would your financials changed in any way?

A: This helps in two ways, one is that it is a 100 percent subsidiary which held some overseas investment for us so by merger it will reduce some administrative cost and hassles. Besides that what we will do is that we are recording the assets at book value. So the differential of the asset value and the book value to the extent of Rs 275 crore will be adjusted against share premium account. Therefore to that extent, India's standalone networth gets reduced. What it means is that it will probably help improve our profit quality that means ROC and ROE.

Reema: The India standalone networth comes around by Rs 270 crore?

A: Yes.

Sumaira: Are there any more such restructuring exercises that you are planning or is this a one off?

A: There are a series of restructuring exercise that we have planned but unfortunately I cannot reveal because the regulations do not permit me to talk about them. But as we go along towards the end of year, hopefully we will have some and next year couple of them.

Reema: I believe the company has operations in Russia. Can you tell us what the revenues as well as the EBITDA that the company generated from Russia and on the back of all the political developments how will those numbers in revenues and EBITDA change?

A: Russia for us is fortunately a small operation which is a never-made money. So this year we were hoping to stop making losses but because of the sanctions and all our efforts therefore will not yield results. Fortunately for us, we did not have any forex exposure in Russia and therefore we are saved from that angle.

Reema: Can you tell us what the revenues will from Russia?

A: That is very small, it is about USD 3 million which is not significant.

Sumaira: On the flip side, the fall in crude prices would be aiding a company like yours, so can you tell us how much can you quantify what could be the benefit that you would see and when?

A: It will be difficult to quantify at this moment but what happens is that by the time we shrink our pipeline of the inventories, the actual effect of the lower prices start to come in but on the other hand, we have had huge surge in human resource course and also energy course. So we hope that partly it will be compensated to that extent. So at the moment it will be difficult for me to predict any specific number so to speak.

Reema: Why not change your FY15 profit growth guidance? You have guided for 20 percent, in the first half of the year, you have done about 24 percent profit growth and we are just about three months left from ending the year, so why not change your guidance now or do you not have the confidence based on how Q3 and Q4 is expected to pan out?

A: It is not the confidence to be very specific, it is that Q3 numbers because of the Christmas holidays across the globe and the seasonality involved. We expect the growth in Q3 will not be as significant as it has been in Q1 and Q2. Therefore, we are tapering our expectation for the full year. So it is always better to commit less and deliver more.

Sumaira: What went wrong with your East Asia Pacific operations? You have seen quite a big fall over there in margins on a year-on-year (Y-o-Y) basis?

A: There is nothing wrong that went there. It is just that the consumer behaviour there is shifted a little bit from our individual pack size to our family pack size. As a result the tonnage of toothpaste remains the same or grows but the number of tubes goes down. So there is nothing that we have lost in that sense but yes, there was a reduction in the total tubes that we sold and that we hopefully will recover going forward. We have recovered part of it last quarter and going forward will recover that. On the other hand we have established a new factory in South East of China which is the hub for beauty and cosmetics and so that is a strategic investment for us that we launched on December 4 of this year.

Reema: How are the early signs of FY16 and will it be better than FY15?

A: Yes they should be. Having said that, keep the base in mind that this year we have grown significantly. So 15 percent topline growth, 20 percent bottomline growth we still maintain. The quality of profits will improve significantly.

21.03 | 0 komentar | Read More

Jubilant buys all outstanding shares of Cadista Holdings

Jubilant Life Sciences has completed tender offer to acquire all outstanding shares of Cadista Holdings Inc, thereby making the US-based firm as its wholly-owned subsidiary.

Jubilant Life Sciences  has completed tender offer to acquire all outstanding shares of Cadista Holdings Inc, thereby making the US-based firm as its wholly-owned subsidiary.

Jubilant Generics Inc, a subsidiary of the company has successfully completed its previously announced Tender Offer for all of the outstanding shares of Cadista Holdings Inc, Jubilant Life Sciences said in a statement.

"Accordingly, Cadista Holdings has now become a wholly-owned subsidiary of Jubilant Life Sciences Ltd," it added.

As of the expiration of the tender offer, a total of 17,018,378 shares were validly tendered and not withdrawn in the offer, representing around 82 per cent of Cadista Holdings' currently outstanding shares not already owned by Jubilant Generics and its affiliates, it said.

Jubilant Generics has accepted for payment of all validly tendered shares, it added.

"As a result of the merger, all shares of Cadista Holdings held by the remaining minority stockholders of Cadista Holdings have been cancelled and, subject to appraisal rights under Delaware Law, converted into the right to receive a USD 1.60 per share in cash," it said.

Jubilant Generics Inc had commenced the open offer to acquire all outstanding shares of the US-based Cadista Holdings Inc in November 2014.

Jubilant shares were trading 1.61 percent up at Rs 126 apiece during afternoon session on the BSE.

Jubilant Life stock price

On December 22, 2014, Jubilant Life Sciences closed at Rs 124.20, up Rs 0.20, or 0.16 percent. The 52-week high of the share was Rs 222.00 and the 52-week low was Rs 111.00.

The company's trailing 12-month (TTM) EPS was at Rs 38.03 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 3.27. The latest book value of the company is Rs 108.82 per share. At current value, the price-to-book value of the company is 1.14.

21.03 | 0 komentar | Read More

'See Rs 4kcr revenues post Thermal Powertech's full yr ops'

Thermal Powertech Corporation India, a joint venture between Gayatri Energy Ventures and Singapore-based Sembcorp Utilities, synchronised its first 660 MW unit with the grid. TV Sandeep Reddy, managing director of Gayatri Projects says commercial operations will kick off by January end for the first unit. The second unit will be operational by April.

With full year of operation – by FY16 – he sees revenues to the tune of Rs 4000 crore plus.

Below is the verbatim transcript of TV Sandeep Reddy's interview with Reema Tendulkar and Ekta Batra on CNBC-TV18.

Ekta: Can you tell us when exactly the commercial operations will kick off?

A: By end of January probably will be the COD for the first unit.

Reema: What could be the expected financial gain on the back of this in FY16?

A: The first unit we are commissioning in January and the second unit by April. So the total FY16 will have the full year of operations of these 1,320 megawatt power plant where the full year of operations probably will do a revenue of nearly more than Rs 4,000 crore.

Reema: Can you give us the financial details in terms of how much the project cost was initially estimated to and how much it possibly has been revised higher by?

A: The original project cost was around Rs 7,000 crore and now there is a slight cost overhang which is being financed by the institutions. The overrun has only come mainly due to the increase in forex components from Rs 45 to Rs 60 and also the interest rates going up in the last two-three years from 11 percent to 12.5-13 percent.

Ekta: So the lenders have given their go ahead?

A: It is under process now.

Reema: What has been the cost overrun? You said Rs 7,000 crore is what you had anticipated.

A: It will be approximately around Rs 9,000 crore.

Reema: In your earlier answer did you say the revenues from this 1,320 megawatt power project will be Rs 4,000 crore in one year, that is in FY16?

A: Yes when the plant runs at 80-85 percent PLF.

Ekta: From this Rs 9,000 crore, which is now the total project cost I assume, can you tell us what the funding would look like in terms of debt and equity?

A: We have 25 percent equity and 75 percent debt.

Reema: So with the additional revenues coming in from this power project, what would the consolidated revenues of Gayatri projects look like in next year?

A: FY16 to our share of revenues probably consolidated will go up by at least Rs 1,500 crore.

Reema: Is it realistic to assume that it will operate at 80-85 percent PLF?

A: Yes. We already have a PPA for about nearly 1,000 megawatt, 500 megawatt of long-term PPA and also 500 megawatt with imported coal short-term PPA.

Ekta: What are the other power projects in your portfolio and what is the progress on them?

A: The other power project is the NCC power project wherein again Sembcorp has joined in as a partner. So it is originally a JV between Gayatri and NCC. Now, Sembcorp has joined in and NCC would be exiting this project and we would continue to hold this asset also in future.

Ekta: When will you see recovery on your profits because while your margins were sustained despite a total income falling quite significantly in your previous quarter, your profit fell quite significantly?

A: Yes, because basically our lack of order uptick in the last couple of years, our growth in the EPC business has come down.

Ekta: Do you expect this trend of low profits to continue in the remaining two quarters as well?

A: From Q1 of next year our profits will continue to come back to the normal but next quarter also our profits would definitely improve.

21.03 | 0 komentar | Read More

Snapdeal.com launches online 'Agri store' targeting farmers

A Hindi version of the store will also be launched soon to aid farmers in making an informed decision, the company said in a statement.

Celebrating Kisan Diwas, e-retailing firm Snapdeal.com today announced the launch of "The Agri store", offering products like seeds, fertiliser and irrigation tools, among others, to farmers.

A Hindi version of the store will also be launched soon to aid farmers in making an informed decision, the company said in a statement.

"Now, farmers will be able to access products critical to their daily needs easily at the click of a button, thus bringing forth the inclusive power of digital marketplaces in the realm of agriculture as well," Snapdeal.com  CEO and Co-founder Kunal Bahl said.

Stating that the country's 70 per cent of the population in engaged in agriculture, he said, "With the store also accessible through mobile phones, we are positive that farmers will find this a convenient and efficient way to shop."

The Agri Store aims to offer wide variety of farm items from seeds to fertilisers, farming tools and irrigation tools. More products and categories will be added in the coming weeks from merchants across the country to make 'The Agri Store' a destination of choice for farmers seeking quality products with reliable service, the statement added.

Snapdeal.com, which started in 2010, is one of the fastest growing e-commerce company in India with over 60 per cent of its orders coming from mobile phones.

21.03 | 0 komentar | Read More

GMR Megawide ties up funds for Philippines airport project

"The financing will fund 70 percent of the total project cost of PHP 33 billion (USD 750 million). The loan is arranged by a consortium of six banks," GMR said.

GMR Megawide Cebu Airport Corporation (GMCAC), a joint venture of GMR group and Manila-based Megawide Construction, has tied up the finances to the tune of nearly USD 525 million for Mactan Cebu International Airport contract in Philippines, the company said today.

"The financing will fund 70 percent of the total project cost of PHP 33 billion (USD 750 million). The loan is arranged by a consortium of six banks," GMR said.

Total equity contribution of GMR to GMCAC will be approximately USD 90 million, out of which the Indian partner has already invested USD 48 million and does not envisage any further investment in the near future, it said.

GMR holds 40 percent while Megawide holds 60 per cent of total stake in the JV, the company said. GMCAC shall be responsible for construction, development, renovation, expansion and operation of the Mactan Cebu International Airport for a period of 25 years, as provided in the concession agreement.

MCIA is the first airport in Philippines to be privatised under the administration's ambitious PPP programme aimed at modernising key infrastructure assets.

In the international competitive bidding process, GMR-Megawide consortium had emerged as the highest bidder after offering a bid premium of 14.4 billion Philippine Pesos (approximately USD 305 million). The formal award of the project in April was followed by a six-month transition period to complete project formalities leading to the transfer of operations to GMCAC on November 1, 2014.

GMR Infrastructure  Ltd's Chairman G M Rao said: "he financial closure of the project signifies the confidence of the banks in the abilities of GMR and our partner Megawide. GMR Group has proven credentials in airport operations and modernisation".

As part of the overall master plan, GMCAC will build a brand new terminal building within three years to cater to the growing traffic. At the same time, the immediate priority will be to upgrade the existing terminal and enhance operating systems and processes to improve service quality and efficiency. Alongside, GMCAC will lay adequate emphasis on corporate-social responsibility and work towards socio-economic development in the surrounding region.

GMR-Megawide consortium plans to develop Mactan-Cebu International Airport into a regional hub in Philippines, creating passenger and cargo traffic growth, jobs for local community, giving a boost to tourism traffic and creating multiplier economic benefits for the region, GMR added.

GMR Infra stock price

On December 22, 2014, GMR Infrastructure closed at Rs 17.00, up Rs 0.10, or 0.59 percent. The 52-week high of the share was Rs 38.30 and the 52-week low was Rs 15.35.

The company's trailing 12-month (TTM) EPS was at Rs 0.23 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 73.91. The latest book value of the company is Rs 16.76 per share. At current value, the price-to-book value of the company is 1.01.

21.04 | 0 komentar | Read More

UFO Moviez files DRHP for Rs 750 cr IPO via offer for sale

UFO Moviez India, India's largest digital cinema distribution network and in-cinema advertising platform in terms of numbers of screens, plans to raise around Rs 750 crore through an offer for sale.

The company filed a draft red herring prospectus with regulator Sebi on December 18.

According to the offer document, the selling shareholders include PE investors such as 3i Research (Mauritius) Ltd, P5 Asia Holding Investments (Mauritius) Ltd (P5) and promoters selling their partial holdings in the company.

P5 Asia Holding Investments (Mauritius) currently holds 35.73 percent, 3i Research (Mauritius) 21.49 percent, Valuable Technologies 11.86 percent, Apollo International 8.75 percent and Apollo Group's Director Raaja Kanwar owns 2.18 percent stake in the company, the offer document said.

UFO Moviez operates India's largest satellite-based, digital cinema distribution network using its UFO-M4 platform, as well as India's largest D-Cinema network.

In fiscal year 2014, the company digitally delivered more than 1,500 movies in 22 languages to 4,703 screens with aggregate seating capacity of approximately 2.14 million viewers spread across India.

Since the beginning of its operations, it has digitally delivered more than 8,100 movies in India.

As at October 31, 2014, its global network spans 6,611 screens worldwide, including 4,912 screens across India and 1,699 screens across Nepal, the Middle East, Israel, Mexico and the US.

According to Crisil report, UFO Moviez has an overall 54 percent market share in India's digital cinema exhibition industry in terms of screens that use digital cinema distribution networks, as a result of which, specialists believe, almost every film released in India is released on UFO network.

Last year, the company had consolidated revenues of 421 crore and a net profit of Rs 46.54 crore.

For the six months ended September 30, 2014, its consolidated total revenue was Rs 233.072 crore and consolidated profit after tax was Rs 21.010 crore.

21.04 | 0 komentar | Read More

Co-founder of SpiceJet seeks time to finalise rescue

Ajay Singh, who helped set up the airline in 2005, was expected to submit a plan on Monday. The official said Singh had sought two to three weeks to finalise the plan.

A co-founder of troubled Indian carrier  SpiceJet Ltd has asked for more time to finalise a rescue plan, a government official with direct knowledge of the matter said on Monday.

Ajay Singh, who helped set up the airline in 2005, was expected to submit a plan on Monday. The official said Singh had sought two to three weeks to finalise the plan.

Singh is in talks with US-based private equity investors to raise funds and lead a turnaround of SpiceJet, but talks were taking longer time than expected due to the upcoming Christmas holidays, the government official said.

Singh was not immediately available for comment.

SpiceJet stock price

On December 22, 2014, SpiceJet closed at Rs 18.50, up Rs 2.70, or 17.09 percent. The 52-week high of the share was Rs 22.20 and the 52-week low was Rs 11.10.

The latest book value of the company is Rs -16.49 per share. At current value, the price-to-book value of the company was -1.12.

21.04 | 0 komentar | Read More

Many suitors for Viom, rule out Bharti Infratel: SREI Infra

Sunil Kanoria of SREI Infrastructure remained tight-lipped on the potential suitors for Viom but spoke at length about the recent central bank move to breathe life into stalled infrastructure projects.

Bharti Infratel  was never in the race to buy stake in Viom, says Sunil Kanoria of  SREI Infrastructure in an exclusive chat with CNBC-TV18's Manasvi Ghelani. Kanoria remained tight-lipped on the potential suitors for Viom but spoke at length about the recent central bank move to breathe life into stalled infrastructure projects.

Below is edited excerpts of the interview with Sunil Kanoria of SREI Infra

Q: Your take on new RBI guidelines on refinancing of infra projects?

A: The recent guidelines which RBI has allowed for existing projects to go for the 5:25 structure is a landmark judgement. If implemented well and correctly by the banking system I think it will go a long way in correcting lot of the problems in the sector because this will ease out and bring in matching funding to cash flow and debt. It will also bring in equity into play and that is the reason I said that the growth in the infrastructure market and the capital market by end of next year is possible because I am hopeful that this guideline itself will bring in lot of positivity.

Q: Reports on Viom project, names like ATC and Bharti Infratel have been making the rounds. What is the status today, are these players really interested, has anyone approached you at this point in time and apart from them has there been anyone on record that has come to you?

A: We have appointed our bankers and we are working on a process. Some of them have approached and shown interest, but not all. We are examining various options, earlier we were examining international listing but then the Indian markets improved so we are evaluating that. We are evaluating strategic investors, we are evaluating financial investors also. We have a group of shareholders with whom we are discussing. We hope that we should be able to do something.

Q: Are these two names being considered?

A: No comments on that. Some have not approached at all. I can only share about Bharti Infratel. The news recently was definitely a wrong statement.

SREI Infra stock price

On December 22, 2014, SREI Infrastructure Finance closed at Rs 48.95, up Rs 1.60, or 3.38 percent. The 52-week high of the share was Rs 57.55 and the 52-week low was Rs 19.75.

The company's trailing 12-month (TTM) EPS was at Rs 1.70 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 28.79. The latest book value of the company is Rs 53.22 per share. At current value, the price-to-book value of the company is 0.92.

21.04 | 0 komentar | Read More

Govt must scrap 5:20 rule, says Vistara CEO Yeoh

The newly-launched airline has plans of some destinations overseas that it can operate using the existing fleet of aircrafts which is the Airbus A320.

In an exclusive chat with CNBC-TV18's Sindhu Bhattacharya, Phee Teik Yeoh, CEO, Vistara expressed hope that the government would soon do away with the '5:20 rule', which mandates a carrier to be five-year-old and have at least 20 aircraft in its fleet before being allowed to serve international market.

"We are hopeful that the 5:20 rule will go away. In fact I think the writing is on the wall. As and when the 5:20 rule goes away we will re-look at our operations."

The newly-launched airline has plans of some destinations overseas that it can operate using the existing fleet of aircrafts which is the Airbus A320.

Vistara will afford to 5 hours flying range but if there are other destinations that it intends to go that requires a longer range than what its aircraft can support, it would have to go out in the market to procure aircraft, whether it purchases or goes for lease and that will take time, adds Yeoh.

"While there is great optimism that 5:20 is going away. Right now our fleet plan, our operations, our structure is all geared up towards operating the domestic operations. Right from the start we know that there is existing 5:20 rule in the market and until that goes away we are confined to operating in domestic," Yeoh concluded.

21.04 | 0 komentar | Read More

Prime Property: Check out Worli's latest luxury offering

Worli emerging as Mumbai's new luxury hotspot, Four Seasons branded residence go on sales for Rs 30 crore to Rs 100 crore apiece. Prime Property brings you details.

Worli emerging as Mumbai's new luxury hotspot, Four Seasons branded residence go on sales for Rs 30 crore to Rs 100 crore apiece. Prime Property brings you details.

Watch video for details…

21.03 | 0 komentar | Read More

Housing.com: Right click for properties!

Housing.com of new services like online rental agreements for Rs 75 and customised processes for home loan applications, Prime Property finds out more about the firm as it is also believed to be in talks to sell a strategic stake to Japan's Soft Bank.

Housing.com of new services like online rental agreements for Rs 75 and customised processes for home loan applications, Prime Property finds out more about the firm as it is also believed to be in talks to sell a strategic stake to Japan's Soft Bank.

Watch video for details…

21.03 | 0 komentar | Read More

Flipkart raises $700 million in fresh round of funding

As with previous funds raised, these funds will be used towards long-term strategic investments in India and to build a world-class technology company, delivering superior customer experiences, the company said in a statement.

Moneycontrol Bureau

India's e-commerce giant Flipkart on Saturday announced that it has raised USD 700 million in a fresh round of funding from Baillie Gifford, Greenoaks Capital, Steadview Capital, T. Rowe Price Associates and Qatar Investment Authority.

The company's existing investors -- DST Global, GIC, ICONIQ Capital and Tiger Global – also participated in this latest financing round.

As with previous funds raised, these funds will be used towards long-term strategic investments in India and to build a world-class technology company, delivering superior customer experiences, the company said in a statement.

Flipkart Ltd (incorporated at Singapore) has filed with ACRA Singapore for conversion to a public company. This is a mandatory procedure for all companies where the number of shareholders exceeds 50. "This filing ensures we are in compliance with the laws of Singapore and is in no way indicative of any upcoming IPO or of any corporate activity that the company is engaged in either in Singapore or any other part of the world," the company statement said.

21.03 | 0 komentar | Read More

Force Motors aims inter-city operations with new 15-seater

Force Motors Limited (FML), formerly Bajaj Tempo is targeting a major chunk of inter-city transport vehicle requirements through its recently introduced indigenous fifteen-seater vehicle, a senior official said.

Force Motors  Limited (FML), formerly Bajaj Tempo is targeting a major chunk of inter-city transport vehicle requirements through its recently introduced indigenous fifteen-seater vehicle, a senior official said.

"The company has launched a 15-seater and a 3050 vehicle (Traveller) which has a 13-seater and a nine-seater variant. Our 15-seater product completely aims at inter-city operations of the travel trade requirement," said A K Verma, Regional Manager (Maharashtra and Goa), FML.

He said the company's product, which was launched in Maharashtra earlier last month, is picking up well, and similar results are expected in Goa too.

"The short distance inter-city transport like Goa to Belgaum (Karnataka), Goa to Kolhapur (Maharashtra) or might be Goa to Mumbai can be targeted with this vehicle," he said.

The FML is aiming to cater to staff carrier and school bus segment through its other products like 3050 13-seater and nine-seater, Verma added. He stated that the products are completely indigenous and produced at their factory in Pritampura near Indore.

In the 15-seater segment, Verma said, the company expects to hit 10-15 percent share, competing with other companies which are already established in the market.

Force Motors stock price

On December 19, 2014, Force Motors closed at Rs 1077.35, down Rs 6.45, or 0.6 percent. The 52-week high of the share was Rs 1463.00 and the 52-week low was Rs 281.65.

The company's trailing 12-month (TTM) EPS was at Rs 61.91 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 17.4. The latest book value of the company is Rs 930.47 per share. At current value, the price-to-book value of the company is 1.16.

21.03 | 0 komentar | Read More

SBI has no plans to lend to SpiceJet, says Bhattacharya

State Bank of India is not looking at extending any loan to the cash-strapped airline SpiceJet, Chairperson Arundhati Bhattacharya said Friday.

State Bank of India  is not looking at extending any loan to the cash-strapped airline SpiceJet , Chairperson Arundhati Bhattacharya said Friday.

Stating that the bank does not have any exposure to the airline, she said: "We just have two current accounts with the airline and the bank is not looking at giving any fresh loan to the carrier."

Earlier this week, the Civil Aviation Ministry had said it may request Indian banks/financial institutions to extend loans of up to Rs 600 crore to the airline.

A Ministry release had also that it would request the Finance Ministry to permit external commercial borrowing (ECB) for working capital as special dispensation.

On rupee volatility, she said it came only a few days ago and she needs to watch out how long it lasts.

On whether the bank is worried over unhedged corporate loan exposure due to the ongoing rupee volatility, she said "at this time no need to press the panic button."

"We always ask our clients to hedge but no one hedges completely. Hopefully all our clients have sensibly hedged what are the immediate requirements," she told reporters on the sidelines of launching tech-learning centres for customers.

She said the move is aimed at empowering the customers through technology and awareness of its tech channels amongst customers. The bank will be launching 385 such centres across the country, she added.

The first centre was launched by Reserve Bank Deputy Governor H R Khan here this evening.

She said by March 2015, there is a plan to install 4,000 additional cash-recyclers which serve the twin purpose of cash deposit and withdrawal. With these installations, the State Bank Group will have a network of 52,791 ATMs, CDMs, cash recyclers.

She said that around Rs 44 crore worth of transactions happen at RBI every month out of which Rs 37 crore are generated manually.

"Out of the Rs 37 crore transactions, 65 percent take place on alternative channels like ATMs, mobile banking and the Internet. We aim to increase it to 85 percent in the next one year," Bhattacharya said.

SBI stock price

On December 19, 2014, State Bank of India closed at Rs 304.25, down Rs 2.8, or 0.91 percent. The 52-week high of the share was Rs 2977.85 and the 52-week low was Rs 287.20.

The company's trailing 12-month (TTM) EPS was at Rs 15.70 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 19.38. The latest book value of the company is Rs 158.43 per share. At current value, the price-to-book value of the company is 1.92.

21.03 | 0 komentar | Read More

Housing.com: Right click for properties!

Housing.com of new services like online rental agreements for Rs 75 and customised processes for home loan applications, Prime Property finds out more about the firm as it is also believed to be in talks to sell a strategic stake to Japan's Soft Bank.

Housing.com of new services like online rental agreements for Rs 75 and customised processes for home loan applications, Prime Property finds out more about the firm as it is also believed to be in talks to sell a strategic stake to Japan's Soft Bank.

Watch video for details…

21.03 | 0 komentar | Read More

Prime Property: Check out Worli's latest luxury offering

Worli emerging as Mumbai's new luxury hotspot, Four Seasons branded residence go on sales for Rs 30 crore to Rs 100 crore apiece. Prime Property brings you details.

Worli emerging as Mumbai's new luxury hotspot, Four Seasons branded residence go on sales for Rs 30 crore to Rs 100 crore apiece. Prime Property brings you details.

Watch video for details…

21.03 | 0 komentar | Read More