Tata Steel announced that it has divested its entire stake in Lanka Special Steels (LSSL) to E.B. Creasy & Company (EBCC) for a total consideration of LKR 433 million (around Rs 20.40 crore) in an all cash deal. LSSL was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka. It is engaged in the business of manufacturing and supplying hot dip galvanized wire and nail wire with an installed capacity of 14,400 metric tonnes per annum. It had an annual turnover of LKR 1,569 million (Rs 74 crore) in fiscal year ended March 2014.
HDFC Bank before market hours today, 1 April 2015 said that it has issued and allotted on a private placement basis senior, unsecured, redeemable, long term, non-convertible bonds in the nature of debentures for Rs 3000 crore.
Shares of natural gas production companies viz. Reliance Industries, ONGC, Oil India and Cairn India will be in focus after Petroleum Planning & Analysis Cell under the Ministry of Petroleum & Natural Gas after trading hours yesterday, 31 March 2015, notified price of domestic natural gas at $4.66 per million metric British thermal unit (MMBTU) on gross calorific value basis for the six months period from 1 April 2015 to 30 September 2015. The gas price is lower by 7.72% from the price of $5.05 per MMBTU for the period from 1 November 2014 to 31 March 2015.
Meanwhile, data released by the government after trading hours yesterday, 31 March 2015, showed that total natural gas production in India declined 8.1% in February 2015 over February 2014 and crude oil production declined 1.9% in February 2015 over February 2014.
Shares of crude oil refiners will be in focus after the core sector data released by the government after trading hours yesterday, 31 March 2015, showed that total petroleum refinery production in India declined 1% in February 2015 over February 2014.
Shares of state-run coal miner Coal India will be in focus after the core sector data released by the government after trading hours yesterday, 31 March 2015, showed that the total coal production in India jumped 11.6% in February 2015 over February 2014.
Shares of power generation firms will be in focus after the core sector data released by the government after trading hours yesterday, 31 March 2015, showed that electricity generation increased 5.2% in February 2015 over February 2014.
Shares of steel makers will be in focus after the core sector data released by the government after trading hours yesterday, 31 March 2015, showed that total steel production in India declined 4.4 % in February 2015 over February 2014.
Shares of cement companies will be in focus after the core sector data released by the government after trading hours yesterday, 31 March 2015, showed that total cement production in India increased by 2.7 % in February 2015 over February 2014.
Fertilizer stocks will be in focus. The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi yesterday, 31 March 2015, approved a major policy intervention, to supply gas at uniform delivered price to all fertilizer plants on the gas grid for production of urea through a pooling mechanism. It is expected that the cost of production of urea at pooled price would be less than the price of imported urea, which will encourage the existing urea units to produce beyond their reassessed capacity. The increase in urea manufacturing capacity will also contribute to the Make in India initiative, a statement from the Ministry of Petroleum & Natural Gas said.
BEML has exported a fleet of mining & construction equipment worth Rs 70 crore to Hwange Colliery, the largest coal mines owned by Govt. of Zimbabwe under NEIA (National Export Insurance Account) Buyer's Credit Scheme of EXIM Bank of India. Under this export order, BEML has shipped 14 units of its products comprising of BE1600 excavators, BD355 bull dozers, BL40 loaders, BG825 motor graders, WS28-2 water sprinklers and tyre handlers. These equipment will be deployed by Govt. of Zimbabwe in their 100 years old and the country's largest coal mines viz., Hwange Colliery, to increase coal production. BEML will be deputing a team of its Service Experts for erection and commissioning of these equipment at the fields and to provide training for the operation. BEML will also provide specialised training at its premises to the technicians of Hwange Colliery in servicing the equipment.
Shares of Orissa Sponge Iron & Steel and Bhushan Steel may be in focus. With reference to the media reports titled Bhushan Steel Targets Orissa Sponge, Orissa Sponge Iron & Steel after market hours yesterday, 31 March 2015 clarified that the company is not aware of any negotiations taking place in respect of the shares of the company and denies the report.
Dalmia Bharat said that the company's Dalmia Cement (Bharat) has commenced trial run of a new clinker line of its subsidiary, Calcom Cement India at Umrangshu, Assam. The total installed grinding capacity for the plant is 2.1 MnT, located at Lanka, Assam. Dalmia also has another cement manufacturing facility in North East located at Meghalaya with a capacity of 1.5 MnT.
SRS said that SRS Talkies, a group company, has opened another new Cinema-SRS Cinemas taking the Franchise from SRS at GNG Mall, Saharanpur, Uttar Pradesh on 30 March 2015 with four screens having 1132 seats. This is the second cinema being operational through franchise model by SRS making the screen count to 54 with the total seating capacity of 14160 seats, SRS said.
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