NLC to generate additional 1,500 MW power in five months

Out of it, expansion of two units at Neyveli Thermal Power Station-II with a capacity of 250 MW each were nearing completion at a cost of Rs 3,027.59 crore, NLC Chairman and Managing Director B Surender Mohan said.

Neyveli Lignite Corporation  (NLC) owned New Thermal Power Stations in Tamil Nadu would generate additional 1,500 MW power within five months, a senior official has said. NLC Chairman and Managing Director B Surender Mohan addressing a Technical Committee meeting last night said that four new thermal units with a capacity of 1,500 MW will be commissioned within next five months at Neyveli and Tuticorin.

Out of it, expansion of two units at Neyveli Thermal Power Station-II with a capacity of 250 MW each were nearing completion at a cost of Rs 3,027.59 crore, he said. Other two units with generating capacity of 500 MW each under a joint venture with Tamil Nadu Generation and Distribution Corporation Limited would also be commissioned within five months at a cost of about Rs 4,910 crore, he said.

At present NLC is generating 2490 MW of power.

Also Read: PSUs-Reforms a better play than just disinvestments, says Emkay

Neyveli Lignite stock price

On July 04, 2014, Neyveli Lignite Corporation closed at Rs 99.00, down Rs 0.6, or 0.6 percent. The 52-week high of the share was Rs 108.50 and the 52-week low was Rs 49.00.

The company's trailing 12-month (TTM) EPS was at Rs 8.95 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 11.06. The latest book value of the company is Rs 86.15 per share. At current value, the price-to-book value of the company is 1.15.

21.03 | 0 komentar | Read More

Govt provides clarity on social welfare spending for PSEs

Corporate Social Responsibility (CSR) spending by central public sector undertakings (CPSEs) is based on the guidelines issued by the Department of Public Enterprises and efforts are on to harmonise them with that of provisions in the new law.

The government has said CSR activities pursued by public sector enterprises (PSEs) would be covered under the social welfare spending provisions of the new Companies Act.

Corporate Social Responsibility (CSR) spending by central public sector undertakings (CPSEs) is based on the guidelines issued by the Department of Public Enterprises and efforts are on to harmonise them with that of provisions in the new law.

Under the Companies Act, 2013, certain class of profitable entities are required to spend at least two percent of their three-year average annual net profit towards CSR activities.

The government has said CSR activities pursued by public enterprises would be covered under the social welfare spending provisions of the new Companies Act.

The matter has been communicated to all Ministries and Departments by DPE through an office memorandum dated July 2.

The Corporate Affairs Ministry, which is implementing the new legislation, has clarified that "ongoing CSR activities/projects of CPSEs can be covered under any of the items in Schedule-VII of the Companies Act, 2013".

At present, CSR spending by central public sector undertakings is based on guidelines issued by the Department of Public Enterprises (DPE).

Current DPE guidelines require central PSUs to shell out 1-5 percent of their profit after tax towards social welfare spending.

21.03 | 0 komentar | Read More

Ashok Leyland raises over Rs 666 cr through QIP issue

The QIP issue of 1,852 lakh equity shares of face value of Re 1 each had opened on June 26. The fund raising committee of the company had fixed the floor price at Rs 34.30 apiece.

Hinduja Group flagship company  Ashok Leyland has raised over Rs 666 crore through allotment of shares at a price of Rs 36 apiece to institutional investors. The company in a filing to the BSE said that its fund raising committee has "approved the issue price of Rs 36 per equity share (share), which is at a premium of Rs 1.70 per share, to the Floor Price of Rs 34.30 per equity share."

The committee also approved closure of the qualified institutional placement (QIP) on July 2, 2014, the filing said. The QIP issue of 1,852 lakh equity shares of face value of Re 1 each had opened on June 26. The fund raising committee of the company had fixed the floor price at Rs 34.30 apiece.

Ashok Leyland's board had approved the fund raising on May 10, 2013 and had got shareholders approval on July 16, 2013. Shares of Ashok Leyland closed at Rs 36.35apiece at BSE, down 1.09 percent from previous close.

Also Read: CCI nod for M&M seed potato biz stake sale to HZPC Holland

Ashok Leyland stock price

On July 04, 2014, Ashok Leyland closed at Rs 36.10, up Rs 0.55, or 1.55 percent. The 52-week high of the share was Rs 39.00 and the 52-week low was Rs 11.82.

The company's trailing 12-month (TTM) EPS was at Rs 0.11 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 328.18. The latest book value of the company is Rs 16.72 per share. At current value, the price-to-book value of the company is 2.16.

21.03 | 0 komentar | Read More

AI puts up 5 more Dreamliners for leaseback

The national carrier has issued a tender inviting bids for the sale and leaseback of five Boeing 787-8 Dreamliners, which were delivered between August 26 last year and January 28 this year, the bid document said.

Air India will sell and lease back five of its new Dreamliners as part of cost-cutting measures and save substantial sums to pay off the bridge loans it has taken against these aircraft, official sources said.

The national carrier has issued a tender inviting bids for the sale and leaseback of five Boeing 787-8 Dreamliners, which were delivered between August 26 last year and January 28 this year, the bid document said.

Leaseback, short for sale-and-leaseback, is a financial transaction where one sells an asset and leases it back for the long-term. Hence, one continues to use the asset but no longer owns it.

Air India has fixed a reserve purchase price of USD 116 million for an aircraft and bids below this amount would not be considered, the document said, adding that the airline would sell the five planes and immediately lease them back for a period of 12 years with an option to extend the lease.

The national carrier has so far taken delivery of 14 of these aircraft and concluded leaseback arrangement for the first seven of those. It had ordered 27 of these fuel- efficient planes in January 2006 from its US manufacturer.

Airline officials, while leasing the previous lot of seven Dreamliners, had estimated that the company would earn over USD 800 million through that sale.

This time round, the airline is expecting to raise over USD 600 million by way of selling the five aircraft, they said, adding that the amount would be used to pay off the bridge loans taken against these planes apart from other operational requirements.

The officials also said that the Boeing 787s have given positive results on routes on which the airline was incurring cash losses as the fuel burn on these aircraft was 15 percent less than that for Boeing 777s.

Air India last year sold five of its Boeing 777-200 (Long Range) planes to Abu Dhabi-based carrier Etihad for about USD 350 million.

21.03 | 0 komentar | Read More

Aiming 10% market share in India: Nissan's Andy Palmer

Nissan's chief planning officer, Andy Palmer says the company's India business has grown some 140 percent in revenues in the last one year.

Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share

Andy Palmer

Chief Planning Officer

Nissan

In his own words he is the product access for Nissan. That makes Andy Palmer responsible for corporate and product planning, program management and sales and marketing performance at a global level. Nissan's Chief Planning Officer, who is in India this week for the launch of a re-vitalised Sunny , is quite optimistic about the Indian market.

In an exclusive chat with CNBC-TV18's Menaka Doshi,Palmer says the company's India business has grown some 140 percent in revenues in the last one year and expects to double its market share in FY15 as well.

Below is the transcript of interview of Andy Palmer with CNBC-TV18's Menaka Doshi.

Q: What do you make of the slight turn around that we have seen in the auto industry and in auto sales in the last month or so here in India, what is your outlook for what India can deliver as a global growth spot?

A: Clearly we see India as a growth opportunity and we have for a long time. Obviously that is the reason that we built a very significant factory in Chennai not only anticipating the ability to export from Chennai but also the growing domestic requirements and we see more and more of the capacity in Chennai being used for domestic production.

We were disappointed to see the slowdown of the economy and obviously that created for us a negative total industry volume which of course is a little bit of a headwind. The economy struggled.
We have been lucky. Particularly in the first quarter of the last financial year the last three months we have seen partially with the new products, partially with annual distribution network but partially an underlying recovery of the economy perhaps driven and helped by the change of government in India we have seen some revitalisation and actually in comparing this last quarter to the same quarter a year ago Nissan Motor Corporation has grown by 142 percent which bucks the trend and is testament not only to the strategy but also gives very good signs of an underlying recovery in the Indian economy.

Q: Given this optimism are you revising your market share and revenue targets for India through the course of lets say this financial year so can you give us a sense of what or where you expect India to deliver in terms of both market share because it is still a very miniscule market share for Nissan here and in terms of revenue as well?

A: We are running at the moment at about 2.2 percent market share. Our longer term ambition is 10 percent market share. Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share. So we need to keep that kind of trajectory and with the products that I see coming down the pipeline and in particular with the social changes that are happening with the younger generations in India I am very optimistic that the brands of Nissan and Datsun, maybe Infiniti in the future, but Nissan and Datsun have a real place in society here and our long term goal of 10 percent market share and to be very much a part of the Indian society that is why we invested so much in the people and do our own R&D here.

For the complete interview watch the accompanying videos

21.03 | 0 komentar | Read More

Govt provides clarity on social welfare spending for PSEs

Corporate Social Responsibility (CSR) spending by central public sector undertakings (CPSEs) is based on the guidelines issued by the Department of Public Enterprises and efforts are on to harmonise them with that of provisions in the new law.

The government has said CSR activities pursued by public sector enterprises (PSEs) would be covered under the social welfare spending provisions of the new Companies Act.

Corporate Social Responsibility (CSR) spending by central public sector undertakings (CPSEs) is based on the guidelines issued by the Department of Public Enterprises and efforts are on to harmonise them with that of provisions in the new law.

Under the Companies Act, 2013, certain class of profitable entities are required to spend at least two percent of their three-year average annual net profit towards CSR activities.

The government has said CSR activities pursued by public enterprises would be covered under the social welfare spending provisions of the new Companies Act.

The matter has been communicated to all Ministries and Departments by DPE through an office memorandum dated July 2.

The Corporate Affairs Ministry, which is implementing the new legislation, has clarified that "ongoing CSR activities/projects of CPSEs can be covered under any of the items in Schedule-VII of the Companies Act, 2013".

At present, CSR spending by central public sector undertakings is based on guidelines issued by the Department of Public Enterprises (DPE).

Current DPE guidelines require central PSUs to shell out 1-5 percent of their profit after tax towards social welfare spending.

21.04 | 0 komentar | Read More

Ashok Leyland raises over Rs 666 cr through QIP issue

The QIP issue of 1,852 lakh equity shares of face value of Re 1 each had opened on June 26. The fund raising committee of the company had fixed the floor price at Rs 34.30 apiece.

Hinduja Group flagship company  Ashok Leyland has raised over Rs 666 crore through allotment of shares at a price of Rs 36 apiece to institutional investors. The company in a filing to the BSE said that its fund raising committee has "approved the issue price of Rs 36 per equity share (share), which is at a premium of Rs 1.70 per share, to the Floor Price of Rs 34.30 per equity share."

The committee also approved closure of the qualified institutional placement (QIP) on July 2, 2014, the filing said. The QIP issue of 1,852 lakh equity shares of face value of Re 1 each had opened on June 26. The fund raising committee of the company had fixed the floor price at Rs 34.30 apiece.

Ashok Leyland's board had approved the fund raising on May 10, 2013 and had got shareholders approval on July 16, 2013. Shares of Ashok Leyland closed at Rs 36.35apiece at BSE, down 1.09 percent from previous close.

Also Read: CCI nod for M&M seed potato biz stake sale to HZPC Holland

Ashok Leyland stock price

On July 04, 2014, Ashok Leyland closed at Rs 36.10, up Rs 0.55, or 1.55 percent. The 52-week high of the share was Rs 39.00 and the 52-week low was Rs 11.82.

The company's trailing 12-month (TTM) EPS was at Rs 0.11 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 328.18. The latest book value of the company is Rs 16.72 per share. At current value, the price-to-book value of the company is 2.16.

21.04 | 0 komentar | Read More

Aiming 10% market share in India: Nissan's Andy Palmer

Nissan's chief planning officer, Andy Palmer says the company's India business has grown some 140 percent in revenues in the last one year.

Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share

Andy Palmer

Chief Planning Officer

Nissan

In his own words he is the product access for Nissan. That makes Andy Palmer responsible for corporate and product planning, program management and sales and marketing performance at a global level. Nissan's Chief Planning Officer, who is in India this week for the launch of a re-vitalised Sunny , is quite optimistic about the Indian market.

In an exclusive chat with CNBC-TV18's Menaka Doshi,Palmer says the company's India business has grown some 140 percent in revenues in the last one year and expects to double its market share in FY15 as well.

Below is the transcript of interview of Andy Palmer with CNBC-TV18's Menaka Doshi.

Q: What do you make of the slight turn around that we have seen in the auto industry and in auto sales in the last month or so here in India, what is your outlook for what India can deliver as a global growth spot?

A: Clearly we see India as a growth opportunity and we have for a long time. Obviously that is the reason that we built a very significant factory in Chennai not only anticipating the ability to export from Chennai but also the growing domestic requirements and we see more and more of the capacity in Chennai being used for domestic production.

We were disappointed to see the slowdown of the economy and obviously that created for us a negative total industry volume which of course is a little bit of a headwind. The economy struggled.
We have been lucky. Particularly in the first quarter of the last financial year the last three months we have seen partially with the new products, partially with annual distribution network but partially an underlying recovery of the economy perhaps driven and helped by the change of government in India we have seen some revitalisation and actually in comparing this last quarter to the same quarter a year ago Nissan Motor Corporation has grown by 142 percent which bucks the trend and is testament not only to the strategy but also gives very good signs of an underlying recovery in the Indian economy.

Q: Given this optimism are you revising your market share and revenue targets for India through the course of lets say this financial year so can you give us a sense of what or where you expect India to deliver in terms of both market share because it is still a very miniscule market share for Nissan here and in terms of revenue as well?

A: We are running at the moment at about 2.2 percent market share. Our longer term ambition is 10 percent market share. Obviously there is a lot of runway in front of us but in the last 12 months we have basically doubled our market share. So we need to keep that kind of trajectory and with the products that I see coming down the pipeline and in particular with the social changes that are happening with the younger generations in India I am very optimistic that the brands of Nissan and Datsun, maybe Infiniti in the future, but Nissan and Datsun have a real place in society here and our long term goal of 10 percent market share and to be very much a part of the Indian society that is why we invested so much in the people and do our own R&D here.

For the complete interview watch the accompanying videos

21.04 | 0 komentar | Read More

NLC to generate additional 1,500 MW power in five months

Out of it, expansion of two units at Neyveli Thermal Power Station-II with a capacity of 250 MW each were nearing completion at a cost of Rs 3,027.59 crore, NLC Chairman and Managing Director B Surender Mohan said.

Neyveli Lignite Corporation  (NLC) owned New Thermal Power Stations in Tamil Nadu would generate additional 1,500 MW power within five months, a senior official has said. NLC Chairman and Managing Director B Surender Mohan addressing a Technical Committee meeting last night said that four new thermal units with a capacity of 1,500 MW will be commissioned within next five months at Neyveli and Tuticorin.

Out of it, expansion of two units at Neyveli Thermal Power Station-II with a capacity of 250 MW each were nearing completion at a cost of Rs 3,027.59 crore, he said. Other two units with generating capacity of 500 MW each under a joint venture with Tamil Nadu Generation and Distribution Corporation Limited would also be commissioned within five months at a cost of about Rs 4,910 crore, he said.

At present NLC is generating 2490 MW of power.

Also Read: PSUs-Reforms a better play than just disinvestments, says Emkay

Neyveli Lignite stock price

On June 30, 2014, Neyveli Lignite Corporation closed at Rs 99.70, up Rs 2.10, or 2.15 percent. The 52-week high of the share was Rs 108.50 and the 52-week low was Rs 49.00.

The company's trailing 12-month (TTM) EPS was at Rs 8.95 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 11.14. The latest book value of the company is Rs 86.15 per share. At current value, the price-to-book value of the company is 1.16.

21.04 | 0 komentar | Read More

AI puts up 5 more Dreamliners for leaseback

The national carrier has issued a tender inviting bids for the sale and leaseback of five Boeing 787-8 Dreamliners, which were delivered between August 26 last year and January 28 this year, the bid document said.

Air India will sell and lease back five of its new Dreamliners as part of cost-cutting measures and save substantial sums to pay off the bridge loans it has taken against these aircraft, official sources said.

The national carrier has issued a tender inviting bids for the sale and leaseback of five Boeing 787-8 Dreamliners, which were delivered between August 26 last year and January 28 this year, the bid document said.

Leaseback, short for sale-and-leaseback, is a financial transaction where one sells an asset and leases it back for the long-term. Hence, one continues to use the asset but no longer owns it.

Air India has fixed a reserve purchase price of USD 116 million for an aircraft and bids below this amount would not be considered, the document said, adding that the airline would sell the five planes and immediately lease them back for a period of 12 years with an option to extend the lease.

The national carrier has so far taken delivery of 14 of these aircraft and concluded leaseback arrangement for the first seven of those. It had ordered 27 of these fuel- efficient planes in January 2006 from its US manufacturer.

Airline officials, while leasing the previous lot of seven Dreamliners, had estimated that the company would earn over USD 800 million through that sale.

This time round, the airline is expecting to raise over USD 600 million by way of selling the five aircraft, they said, adding that the amount would be used to pay off the bridge loans taken against these planes apart from other operational requirements.

The officials also said that the Boeing 787s have given positive results on routes on which the airline was incurring cash losses as the fuel burn on these aircraft was 15 percent less than that for Boeing 777s.

Air India last year sold five of its Boeing 777-200 (Long Range) planes to Abu Dhabi-based carrier Etihad for about USD 350 million.

21.04 | 0 komentar | Read More