Shares of public sector banks (PSBs) will be watched. The Union Finance Minister Arun Jaitley will review various key financial sector issues like credit off take in the economy, achievement under priority sector lending (PSL) and progress made under Pradhan Mantri Jan Dhan Yojana (PMJDY) etc. with the Chief Executive Officers (CEOs) of PSBs/Financial Institutions (FIs) on 5 March 2015 during the quarterly review meeting, a statement from the government yesterday, 17 February 2015 said. The periodic review meeting will also focus on taking forward the intention of the Department of Financial Services (DFS) to improve the performance of the public sector banks (PSBs) and financial institutions (FIs) through steps like the recent additional infusion of Rs 6990 crore in public sector banks (PSBs) on the basis of performance measured by return on assets/equity, the government statement said.
Shares of fertilizers manufacturers will be in focus after the Ministry of Chemicals and Fertilizers after trading hours on Monday, 16 February 2015, said that there is no shortage of fertilizers in the country. In the month of February 2015 against the requirement of 16.71 lakh metric tonnes (MT) of urea, the supply plan has been made for 29.6 lakh MT out of which 14.71 lakh MT has already been made available till 15 February 2015, the Ministry of Chemicals and Fertilizers said. To ensure adequate availability of urea during the ensuing Kharif season of 2015, the Department of Fertilizers has planned in advance to procure 10.5 lakh MT of urea in February and March 2015 in the tender floated through MMTC in January 2015.
Mahindra & Mahindra (M&M) before market hours today, 18 February 2015 announced the upgradation of the side curtain airbag software on all the XUV500 vehicles manufactured on or before July 2014. The upgrade will be carried out free of cost for customers who will be individually contacted by the company, M&M said. This upgrade will be limited only to a software change and no parts will be replaced, it added. The proactive inspection/upgradation is in keeping with M&M's customer-centric approach, the company said in a statement.
Tata Motors before market hours today, 18 February 2015 said that its global wholesales in January 2015, including Jaguar Land Rover (JLR) were at 80,499 units, remained flat, compared to January 2014. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 2% to 30,678 units in January 2015 over January 2014. Global wholesales of all passenger vehicles remained flat at 49,821 units in January 2015 over a year ago. Global wholesales for JLR declined 5.44% to 36,527 units in January 2015 over January 2014. The reduction in the JLR sales is more than explained by the sales run out of the Land Rover Freelander model while retails of the new Land Rover Discovery Sport will start this month in some markets, Tata Motors said.
Punjab National Bank announced after market hours on Monday, 16 February 2015, that consequent upon the decision of the Government of India (GoI) to infuse capital funds to the tune of Rs 870 crore in the bank during 2014-15, up to 4.42 crore shares of Rs 196.80 per share on preferential basis shall be issued to GoI subject to regulatory approvals including approval of shareholders in the EGM to be held on 19 March 2015.
Bank of India after market hours on Monday, 16 February 2015 in a clarification with regard to news item titled "BOI Keen to Buy 20% Stake in Payment Bank" said that during press meet held on 12 February 2015 specific query was raised about the bank's intention to participate in payment bank. It is clarified that while the bank intends to participate by way of strategic investment in the payment bank by taking stake upto 19.9% of the equity of the proposed entity, however the matter is only in initial stage and presently the bank has not entered into any binding agreement, Bank of India said. The matter will be finalized only on the proposed entity getting in-principle approval from RBI for setting up payment bank and Bank of India getting approval from RBI and Government of India to make the said investment, the bank added. Thereafter Bank of India will carry out necessary due diligence and comply with other statutory norms as applicable, it said. Therefore the same has no immediate bearing on the performance/operations of the bank, Bank of India said. In case the bank finalizes in the matter of investing in the payment bank the same will be informed to stock exchange in terms of listing norms, Bank of India said.
Tata Steel after market hours on Monday, 16 February 2015 in a clarification with regard to news item titled "Tata Steel to Cash out Mozambique Asset" said that post Tata Steel's earning release on 6 February 2015, Mr. Koushik Chatterjee, Group Executive Director (Finance and Corporate) in the investor/analyst call, stated that, there has been a change in ownership of Benga Investment and that the company is currently engaged with ICVL to understand their plans for the future after which the company would be looking at taking strategic view on the portfolio. The recording of the call (audio file) is available on the company's website, Tata Steel said. The statement of Mr. T. V. Narendran, Managing Director, which appeared in the new article, is on similar lines as was disclosed to the investors on 6 February 2015, Tata Steel said.
Crompton Greaves after market hours on Monday, 16 February 2015 said that it has been awarded a prestigious contract by National Thermal Power Corporation (NTPC), for the design, manufacturing and supply of generator step-up transformers for NTPC's largest capacity, 800 megawatts (MW) super-critical thermal power plant at Darlipali in Odisha. The project is scheduled to be completed in thirty two months. The contract value is Rs 119 crore.
Usha Martin announced after market hours on Monday, 16 February 2015, that the company participated in e-auction of Kathautia coal block which is being operated by the company till March, 2015, subsequent to de-allocation of coal mines by the Supreme Court of India, on 15 February 2015. At the last bid value of Rs 2860 per tonne, the company took a deliberate decision of not being part of such aggressive bidding for the same not having economic justification for DRI making. The company would make alternative arrangements for procurement of coal in short to medium term and would continue to have long term focus on, and to work to secure, cost effective and continuous availability of key raw materials as part of its business approach.
Jaiprakash Associates will be in focus after the company won the Mandla North coal block in Madhya Pradesh for Rs 2,505 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Monday, 16 February 2015. The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal.
Jaiprakash Power Ventures will be in focus after the company won the Amelia North coal block in Madhya Pradesh for Rs 712 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Tuesday, 17 February 2015.
OCL Iron & Steel will be in focus after the company won the Ardhagram coal block in West Bengal for Rs 2,302 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Tuesday, 17 February 2015.
Sesa Sterlite will be in focus after the company's subsidiary Bharat Aluminium Company (Balco) won the Chotia coal block in Chhattisgarh for Rs 3,025 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Tuesday, 17 February 2015.
HCL Infosystems said on Tuesday, 17 February 2015, that the company and Nokia India Sales (NISPL, subsidiary of Microsoft Mobile OY) extended their engagement by 3 years to distribute Microsoft Lumia and Nokia first & feature devices and accessories across India. NISPL and HCL Infosystems has signed a contract that will enhance the footprint of Microsoft Mobile devices across the Organized Trade and General Trade channels and rural India. This engagement strengthens HCL Infosystems' partnership with NISPL for distribution of mobile devices and is geared to trigger significant business growth and synergy for both companies. The partnership also enables both companies to explore new channels to enhance their last-mile connect.
Lupin and Celon Pharma S.A. (Celon) announced on Tuesday, 17 February 2015, that they have entered into a definitive agreement under which the companies will jointly develop fluticasone/salmeterol dry powder inhaler (DPI) product which is a generic version of GlaxoSmithKline's Advair Diskus. Lupin will be responsible for commercialization of the product. Celon will supply the product to Lupin for its commercialization in the United States, Canada, Mexico, and other key markets. GlaxoSmithKline's Advair Diskus had global sales of over $7 billion as of last fiscal.
Dynamatic Technologies announced after market hours on Monday, 16 February 2015, that it won a contract from Airbus to manufacture key wing components for A330 wide body family aircraft. As per the contract, Dynamatic Technologies will be the single source supplier of flap-track beams for the wide body A330 family aircraft. The agreement is the largest manufacturing contract between Airbus and a private sector company in India and elevates Dynamatic to a global tier-1 supplier.
Dynamatic has manufactured flap-track beam assemblies for Airbus' single-aisle A320 Family on a global single source basis as a Tier-2 supplier, since 2010. In phase one of the agreement, Dynamatic will assemble all the Flap Track Beams from its Bangalore facility. In the second phase, Dynamatic will be responsible for the entire supply chain for the Flap Track including sourcing materials, manufacturing and final assembly.
Meanwhile, in a separate announcement, Dynamatic Technologies and AeroVironment Inc inaugurated the pilot production facility for the development of the next generation unmanned aircraft system, Cheel. The project named 'Cheel' will be jointly developed and produced by Dynamatic Technologies and AeroVironment in India, subject to applicable US and Indian government approvals. The 'Cheel' Pilot Production Facility will house an advanced avionics and communications laboratory, payload development facility, composite facility as well as an assembly and testing facility for small Unmanned Aerial Systems, the company said in a statement.
MOIL announced on Tuesday, 17 February 2015, that its board approved two projects. The board approved sinking of 2nd (New) Vertical Shaft and other allied works at a cost of Rs 77.15 crore at MOIL's Ukwa Mine. The project is expected to be completed in 4 years from the date of award of work and the production will start from 5th year to gradually touch additional 1.05 Lakh MT per annum. Further, the board also approved deepening of Vertical Shaft and allied works at a cost of Rs 14.82 crore at MOIL's Kandri Mine. The project is expected to be completed in 3 years from the date of award of work and the production will start from 4th year to gradually increase from 0.63 Lakh MT per annum to 1.2 Lakh MT per annum.
Globus Spirits said on Tuesday, 17 February 2015, it invested Rs 5 lakhs in its wholly owned subsidiary (WOS), Uber Blenders & Distillers vide dated 16 February 2015 towards initial subscription money required in forming of a WOS. The company had earlier formed WOS, Uber Blenders & Distillers having its Registered Office at F-0, The Mira Corporate Suites, Ishwar Nagar, Mathura Road, New Delhi - 110065.
Accelya Kale Solutions announced on Tuesday, 17 February 2015, that Air Namibia, the flag carrier of Namibia has selected Accelya's Cost Management (FinesseCost) & Flight Profitability (FinessePS) Solutions of FinesseSuite. The scope of services include automate processing of Clearing House (CH) and Non-Clearing House invoices, accruals, Direct Operating Cost (DOC) verification, workflow, accounting integration with ERP and a supplier portal which will be used by airline's suppliers to input their (bilateral) invoices.
CESC said on Tuesday, 17 February 2015, that following an e-auction conducted by the Ministry of Coal, Government of India on 15 February 2015 and the results thereof since posted on the Ministry's website, CESC has submitted the closing bid of Rs 470 per metric tonne (MT) for Sarisatolli coal mine in the state of West Bengal. A formal letter to the company from the Ministry allocating the said mine is expected in due course.
Supreme Infrastructure India's net profit fell 88.99% to Rs 3.53 crore on 33.86% decline in net total income from operations to Rs 400.93 crore in Q3 December 2014 over Q3 December 2013. The Q3 result was announced on Tuesday, 17 February 2015.
With respect to news titled "Gulf Petrochem acquires Essar's Kenyan Operations," Essar Oil clarified after market hours on Monday, 16 February 2015, that the company neither directly nor through its subsidiary is having any marketing operations in Kenya. These operations are being carried on by a group company, Essar Petroleum East Africa. The company's name has been wrongly quoted by the print media in the article, Essar Oil added.
Zicom Electronic Security Systems announced after market hours on Monday, 16 February 2015, that meeting of preferential issue committee of directors is scheduled on 18 February 2015, to consider allotment on preferential/private placement basis of 26 lakh shares of the company for cash at a price of Rs 160 per share to Mr Atim Kabra (10.4 lakh shares), Frontline Strategy (2.59 lakh shares), Mr Arvind Darab Dubash (6.5 lakh shares) and Mrs Sudha Darab Dubash (6.5 lakh shares).
Sujana Metal Products reported consolidated net profit of Rs 1.07 crore in Q3 December 2014 compared with consolidated net loss of Rs 5.17 crore in Q3 December 2013. Consolidated turnover rose 11.02% to Rs 954.40 crore in Q3 December 2014 over Q3 December 2013. The Q3 result was announced after market hours on Monday, 16 February 2015.
Arvind Remedies announced after market hours on Monday, 16 February 2015, that the board of directors of the company at its meeting held on 11 February 2015, has decided that due to issue of further equity shares by Coronet Labs (CLPL) the subsidiary company, the shareholding of the company in CLPL reduced substantially and CLPL ceased to be subsidiary. It was decided that in the next board meeting convened on 27 February 2015, the corporate restructuring proposal with bankers be taken for discussion.
Steel Authority of India (Sail) turns ex-dividend today, 18 February 2015, for interim dividend of Rs 1.75 per share for the year ending 31 March 2015.
NMDC turns ex-dividend today, 18 February 2015, for interim dividend of Rs 4.25 per share for the year ending 31 March 2015.
Rural Electrification Corporation (REC) turns ex-dividend today, 18 February 2015, for interim dividend of Rs 8 per share for the year ending 31 March 2015.
Hexaware Technologies turns ex-dividend today, 18 February 2015, for interim dividend of Rs 2.50 per share for the year ended 31 December 2014.
Hinduja Global Solutions turns ex-dividend today, 18 February 2015, for third interim dividend of Rs 5 per share for the year ending 31 March 2015.
India Nippon Electricals turns ex-dividend today, 18 February 2015, for interim dividend of Rs 4.50 per share for the year ending 31 March 2015.
Manaksia turns ex-dividend today, 18 February 2015, for interim dividend of Rs 2 per share for the year ending 31 March 2015.
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