ACC said after market hours on Friday, 3 July 2015 that the limestone mining operations at company's Chaibasa cement works has been suspended on account of requirement of further clearances from the Government of Jharkhand. The company is in discussion with the concerned authorities in this regard and expects that limestone mining operations would resume shortly, ACC said. Cement grinding continues with transfer of clinker from sister works/purchase of clinker, it added. The impact of the closure of the mining operations at Chaibasa is not expected to be material, ACC said.
Shares of JSW Steel turn ex-dividend today, 6 July 2015, for dividend of Rs 11 per share for the year ended 31 March 2015.
Shares of Vedanta turn ex-dividend today, 6 July 2015, for final dividend of Rs 2.35 per share for the year ended 31 March 2015.
NMDC said on Saturday, 4 July 2015, that as per provisional figures, total production upto 30 June 2015 stood at 5.93 million tonnes and total sales upto 30 June 2015 stood at 6.65 million tonnes. The prices of lump iron ore was fixed at Rs 2950 per wet metric tonne (WMT) and prices of fines iron ore was fixed at Rs 1660 per WMT. The revised prices of iron ore took effect from 4 July 2015.
MOIL said after market hours on Friday, 3 July 2015 that the prices of all ferro grades of ore with Mn 45% and above have been reduced by 3% in Q2 September 2015 on the previous quarter price. The prices of all ferro grades of ore with Mn 32% & upto below Mn 45% have been reduced by 7.5% on the previous quarter price. The prices of all grades of SMGR (Mn 30%, Mn 25%) have been reduced by 12.5% on the previous quarter price. The prices of all grades of Mn ore fines have been reduced by 5% on the previous quarter price. The price of all grades of chemical grade has been reduced by 7.5% on the previous quarter price. There is no change in the existing price of electrolytic manganese dioxide (EMD), MOIL said in a statement.
Shares of FMCG companies will be in focus after the weekly data released by the Ministry of Agriculture after trading hours on Friday, 3 July 2015, showed a pick up in planting of Kharif crops. Increase in agricultural production could boost rural income which in turn could boost demand for consumer goods. FMCG companies derive substantial revenue from rural India.
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Shares of cigarette makers will be in focus after the Reserve Bank of India (RBI) on Friday, 3 July 2015, clarified that foreign direct investment (FDI) is prohibited in manufacturing of cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes. The RBI clarified that the prohibition applies only to manufacturing of these tobacco products and that FDI in other activities relating to these products, including wholesale cash and carry, retail trading etc. shall be governed by the sectoral restrictions laid down in the FDI policy framed by the Department Of Industrial Policy & Promotion, Ministry of Commerce and Industry, Government of India and in the Schedule 1 of Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 as amended from time to time.
Shares of Petronet LNG may edge lower after the Reserve Bank of India (RBI) on Friday, 3 July 2015, imposed restrictions on further purchases of the equity shares of the company by foreign institutional investors (FIIs)/Registered Foreign Portfolio Investors (RFPIs). The RBI said that the trigger limit of 22% holding of FIIs has already reached in Petronet LNG and therefore further purchases of the equity shares of the company by FIIs/ RFPIs will be allowed only after obtaining prior approval of the RBI.
Shares of companies engaged in manufacturing of defence equipment will be in focus after the Ministry of Commerce & Industry said in a statement issued after market hours on Friday, 3 July 2015, that the Department of Industrial Policy & Promotion (DIPP) has so far issued 73 industrial licenses in defence sector during last one year (since June 2014), against 50 licenses granted during 2011 to May 2014. These include 16 proposals with proposed investment of Rs 613 crore, cleared in recent Licensing Committee meeting chaired by Secretary, DIPP, held on 10 June 2015, the statement from the Ministry said.
Shares of Lakshmi Cotsyn, Varun Shipping Company and The Sirpur Paper Mills may edge lower after the National Stock Exchange (NSE) on Friday, 3 July 2015, announced that these three stocks will be transferred to 'BZ' series with effect from 13 July 2015 due to non-compliance of the Clause 41 of the Listing Agreement for two consecutive quarters. The settlement of trades in the BZ series will be on Trade for Trade basis. Settlement on Trade for Trade basis means that each and every trade in these three stocks from 13 July 2015 has to compulsorily result in delivery.
Power stocks will be in focus after the Government is committed to provide power to all households in the country from urban to rural by 2019 and making all out efforts to accomplish it. Stating this in an interactive session organized by Coal Consumers' Association of India (CCAI) in Kolkata on Friday, 3 July 2015, the Minister of State for Power, Coal and New & Renewable Energy, Shri Piyush Goyal emphasized on generating more and more clean and green energy from sources like Solar, Wind, Tidal and Bio-mass that is eco-friendly and said his ministry is effortlessly encouraging it by providing subsidy and other promotional activities.
The Minister said, coal production in the country by Coal India (CIL) has increased by 12% by February 2015 since the new government came to power and the target is to increase it by 29 million tonnes in the next 10 months. He said, the government is adopting a policy of clear transparency and giving priority to accountability, responsibility and integrity in the Coal Sector. The Minister hoped that the coal sector will have 11 to 12 % growth with an additional production of 550 million tonnes in the current financial year.
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