Power Grid Corporation of India announces Q2 results today, 11 November 2014.
Hindalco Industries will be in focus after its US subsidiary Novelis Inc. yesterday, 10 November 2014, said its consolidated net profit jumped 65% to $38 million on 17% increase in net sales to $2.8 billion in Q2 September 2014 over Q2 September 2013. Novelis said its net profit excluding certain tax-effected items rose 14% to $42 million in Q2 September 2014 over Q2 September 2013. Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 1% to $230 million in Q2 September 2014 over Q2 September 2013. The increase was primarily driven by higher shipments and cost benefits from using recycled metal inputs. These favorable drivers were partially offset by continued pricing pressures in the Asian markets, a higher fixed cost base due to expansions ahead of revenue generation, and unfavorable currency fluctuations late in the second quarter. "It's an exciting time at Novelis as we continue to transform our business with a more sustainable focus on growing high recycled content premium products," said Phil Martens, President and Chief Executive Officer for Novelis.
Shares of companies engaged in highway construction projects will be in focus after the Ministry of Road Transport & Highways and the Ministry of Railways yesterday, 10 November 2014, signed a Memorandum of Understanding (MoU) on policy related to constructions of Road Over/Under Bridges (ROBs/RUBs) on National Highway corridors. Through this MoU, there will be speedy clearances of various design & drawings for construction of ROBs/RUBs on National Highway Corridors and clear cut defined responsibility for construction of ROB/RUB on National Highway Corridors, the Ministry of Railways said in a statement. The announcement was made after trading hours yesterday, 10 November 2014.
Apollo Tyres' consolidated net profit rose 17.52% to Rs 257.94 crore on 3.46% fall in total income from operations (net) to Rs 3315.24 crore in Q2 September 2014 over Q2 September 2013. The result was announced during market hours on Monday, 10 November 2014.
Jet Airways (India) and SpiceJet will be in focus after the Ministry of Civil Aviation after trading hours yesterday, 10 November 2014, released the Draft Civil Aviation Policy. The Draft Civil Aviation Policy notes that airports are to be designed as integrated multi-modal hubs, so that they provide the best possible service levels as well as potential for growth. Secretary, Ministry of Civil Aviation, V. Somasundaran said that an integrated multi-modal hub should include rail, metro, bus and truck connectivity as well as accommodation and other services. While developing airports, it is equally essential to ensure that related sectors such as access to manufacture, business, tourism and pilgrim centres are developed, the Ministry of Civil Aviation said in a statement.
The six metropolitan airports at Delhi, Mumbai, Chennai, Kolkata, Bangalore and Hyderabad would be developed as major international hubs and would in future be the main access points for international travel to and from India. In future a hub-and-spoke model would be followed, which would also facilitate the development of regional networks and air connectivity as a whole, the Ministry of Civil Aviation said. The Draft Civil Aviation Policy puts emphasis on rationalizing the cost of Aviation Turbine Fuel (ATF). Due to high rates of taxes, the cost of ATF in India is 40 to 45% higher than the international costs. Steps will be taken in association with the Ministry of Finance and state governments to rationalize the rate of taxes so that the costs for Indian carriers are competitive, the Ministry of Civil Aviation said.
The government's objective will be to provide optimum air connectivity to all regions, subject to commercial viability. A special package will be developed for the North-Eastern Region to improve air connectivity and provide linkages to remote locations. The 5/20 guidelines will be reviewed with a view to encouraging the entry of new Indian carriers.
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For development of the civil aviation sector, provision of Air Navigation Services (ANS) of international standards is essential. The Airports Authority of India has taken several initiatives in this direction. These would be intensified with the objective of reducing flying time, elimination of crowding at airports, direct routing of aircrafts from destination to destination and enhancing communication and navigation services to international standards.
Regarding development of the cargo sector, the government proposes to substantially develop the transport of cargo by air for which there is considerable potential. To achieve the objective, the six metro airports will be developed as regional cargo hubs, integrating multi-modal transport facilities, cold chains and other commodity specific requirements. The turnaround time for cargo will be upgraded to international standards. Air Freight Stations will be developed in different parts of the country to streamline customs clearance and to reduce congestion in the airports.
The Draft Civil Aviation Policy has been released for consultation with public and stakeholders within three weeks, after which six to seven groups of experts would be constituted to interact with stakeholders and review the inputs received during the process. Civil Aviation Minister Ashok Gajapathi Raju Pusapati said that the new Civil Aviation Policy is expected to be in place by January 2015.
Shares of private helicopter company Global Vectra Helicorp may edge higher after the Draft Civil Aviation Policy proposed to provide suitable incentives to helicopter operators in respect of operational costs in the airports. Helicopter Aviation is a segment that has considerable potential for growth in areas such as reducing congestion in the big cities, medical evacuation, relief operations, law and order, oil exploration etc. Heliports and helipads will be developed in locations with sufficient potential, the Ministry of Civil Aviation said.
Timken India's net profit rose 57.07% to Rs 20.75 crore on 30.64% rise in total income from operations (net) to Rs 233.99 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Monday, 10 November 2014.
TV Today Network's net profit rose 2.88% to Rs 13.20 crore on 21.78% rise in total income from operations (net) to Rs 111.68 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Monday, 10 November 2014.
Dredging Corporation of India reported 67.23% fall in net profit to Rs 3.24 crore on 7.71% fall in total income from operations (net) to Rs 168.96 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Monday, 10 November 2014.
On a consolidated basis, AGC Networks reported net loss of Rs 9.20 crore in Q2 September 2014, lower than net loss of Rs 4.23 crore in Q2 September 2013. Total income from operations (net) rose 3.75% to Rs 223.70 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Monday, 10 November 2014.
AGC Networks' Board of Directors at its meeting held on 10 November 2014, noted that the Board of AGC Networks Pte. (the company's wholly owned subsidiary at Singapore) has resolved to incorporate a wholly owned subsidiary at Philippines to expand the international operation of AGC Group.
Voltamp Transformers' net profit rose 23.48% to Rs 4.89 crore on 37.21% rise in net sales to Rs 134.46 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours on Monday, 10 November 2014.
Rashtriya Chemicals and Fertilizers said that the company has signed an MoU with Bharat Petroleum Corporation for setting up of new Sewage Treatment Plant (STP) at Trombay. This plant will be named as RCF-BPCL Sewage Treatment Plant.
The RCF-BPCL Sewage Treatment Plant will have state-of-the-art technology with a designed capacity to treat 22.75 Million litres per day (MLD) of Municipal Sewage to produce about 15 MLD of treated water. The treated water shall be shared by RCF and BPCL. The project is being set up with active support from Municipal Corporation of Greater Mumbai (MCGM).
V-Mart Retail said that the company has opened a new store located at "12 Dari Road, Opposite Anand Cinema, Qaiserbagh Chauraha, Lucknow-226001, Uttar Pradesh. This is the 48th store in the state of Uttar Pradesh across 38 cities. With this the Company have increased the tally of the state to 16 composite stores & 32 fashion stores. This takes the total number of stores to 103 in 87 cities across 12 states with a total area of 8.35 lakhs sq.ft, V-Mart Retail said.
Hatsun Agro Product said that a meeting of the Board of Directors of the company will be held on 18 November 2014, to consider allotment of 10 lakh equity shares of Re 1 each at Rs 300 per share on preferential basis to select persons/entities belonging to Non-Promoter Group, consequent to the approval of shareholders of the company through Postal Ballot on 28 October 2014.
Murli Industries announced after market hours on Monday, 10 November 2014, that the problem has been sorted out at the company's plants situated at Vill. Vadoda, Tah. Kamptee, Dist Nagpur, (Maharashtra), and the plants will start its operation very shortly. All the paper plants engaged in manufacturing of Duplex Board, News Print Paper, Writing & Printing Paper and SBS Board situated at Vill. Vadoda, Tah. Kamptee, Dist. Nagpur, (Maharashtra), was also shut down because of non supply of power, will start its operation soon. On 27 April 2014, company had announced shutdown of the company's plants situated at Vill. Vadoda, Tah. Kamptee, Dist Nagpur, (Maharashtra),
Jain Irrigation Systems reported consolidated net loss of Rs 23.59 crore in Q2 September 2014 compared with net loss of Rs 80.70 crore in Q2 September 2013. Total income rose 4.54% to Rs 1279.87 crore in Q2 September 2014 over Q2 September 2013. The Q2 result was announced after market hours on Monday, 10 November 2014,
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