STOCKS ALERT - 16.05.2014
* ADANI ENTERPRISES: The company expects work on its $15.5 bln coal and rail
project in Queensland to kick off next year and plans to start coal exports to India from
2017.
* ADANI POWER: The Maharashtra Electricity Regulatory Commission has approved a
compensatory tariff of 1.01 rupees per unit for the company's 1,320 MW Tiroda power
project in the state.
* ARVIND: Has posted Jan-Mar net profit of 940 mln rupees, up 24.1% on year, and net
sales of 18.80 bln rupees, up 31.1%.
* BAJAJ HOLDINGS & INVESTMENT: Jan-Mar net profit down 11% on-year to 5.9
bln rupees while sales decline 22.25% to 632.1 mln rupees.
* BALKRISHNA INDUSTRIES: Jan-Mar net profit up 82.15% on year to 1.54 bln
rupees, and net sales rose 33.16% to 10.3 bln rupees.
* CAIRN INDIA: Cairn Energy Plc said it will assess impairments on the value of its
shareholding in the company in next six months.
* DEEPAK FERTILISERS & PETROCHEMICALS: Has approached the Delhi High
Court against an order of the oil ministry to stop domestic gas supply to the company's
Taloja unit in Raigad. The battle for takeover of MANGALORE CHEMICALS AND
FERTILISERS is set to intensify with the company likely to top the open offer made by
Vijay Mallya and Saroj Poddar.
* EID PARRY: The company has posted Jan-Mar net profit at 853.90 mln rupees
compared to 54.20 mln rupees a year ago. Net sales fell 14.6% on year to 5.42 bln
rupees. The company's 6-bln-rupee sugar refinery, and a port-based special economic
zone, will commence operations by May-end.
* ELDER PHARMACEUTICALS: Posted Jan-Mar net loss of 736.32 mln rupees against
loss of 233.35 mln rupees in Oct-Dec, and a 40.8% sequential decrease in net sales to
2.27 bln rupees.
* ESSAR PORTS: The company will finally start executing four port projects that were
stuck for several years amid pending regulatory approval and lawsuits.
* ADANI ENTERPRISES: The company expects work on its $15.5 bln coal and rail
project in Queensland to kick off next year and plans to start coal exports to India from
2017.
* ADANI POWER: The Maharashtra Electricity Regulatory Commission has approved a
compensatory tariff of 1.01 rupees per unit for the company's 1,320 MW Tiroda power
project in the state.
* ARVIND: Has posted Jan-Mar net profit of 940 mln rupees, up 24.1% on year, and net
sales of 18.80 bln rupees, up 31.1%.
* BAJAJ HOLDINGS & INVESTMENT: Jan-Mar net profit down 11% on-year to 5.9
bln rupees while sales decline 22.25% to 632.1 mln rupees.
* BALKRISHNA INDUSTRIES: Jan-Mar net profit up 82.15% on year to 1.54 bln
rupees, and net sales rose 33.16% to 10.3 bln rupees.
* CAIRN INDIA: Cairn Energy Plc said it will assess impairments on the value of its
shareholding in the company in next six months.
* DEEPAK FERTILISERS & PETROCHEMICALS: Has approached the Delhi High
Court against an order of the oil ministry to stop domestic gas supply to the company's
Taloja unit in Raigad. The battle for takeover of MANGALORE CHEMICALS AND
FERTILISERS is set to intensify with the company likely to top the open offer made by
Vijay Mallya and Saroj Poddar.
* EID PARRY: The company has posted Jan-Mar net profit at 853.90 mln rupees
compared to 54.20 mln rupees a year ago. Net sales fell 14.6% on year to 5.42 bln
rupees. The company's 6-bln-rupee sugar refinery, and a port-based special economic
zone, will commence operations by May-end.
* ELDER PHARMACEUTICALS: Posted Jan-Mar net loss of 736.32 mln rupees against
loss of 233.35 mln rupees in Oct-Dec, and a 40.8% sequential decrease in net sales to
2.27 bln rupees.
* ESSAR PORTS: The company will finally start executing four port projects that were
stuck for several years amid pending regulatory approval and lawsuits.
* EVERONN EDUCATION: Board meeting to consider offer of shares through rights
issue has been re-scheduled to May 26.
* FINANCIAL TECHNOLOGIES (INDIA): A court on Thursday extended the police
custody of Jignesh Shah, chairman of the company, and Shreekant Javalgekar, former
managing director and chief executive officer of MULTI COMMODITY EXCHANGE to monday
* GVK POWER AND INFRASTRUCTURE: The government might allow the company
to quit its 30-bln rupee Shivpuri-Dewas road project settling a precedent for similar
requests from road developers.
* HIMATSINGKA SEIDE: Has posted Jan-Mar net profit of 115.3 mln rupees, down
48.6% on-year, and net sales at 4.92 bln rupees, up 27.4%.
* INFOSYS: The company has run the risk of being "too early" to change its business
strategy, Executive Vice Chairman S. Gopalakrishnan said. The company has stopped
giving out various loans to India-based employees as the company is cutting costs among
other steps to revive growth.
The company may have allowed non-performing senior executives to exit but has decided
to motivate entry-level employees with the offer of a fixed pay-regardless of how well or
badly they perform--hoping to stem rising attrition levels.
* KALINDEE RAIL NIRMAN ENGINEERS: Posted Jan-Mar net profit of 126.48 mln
rupees against net loss of 12.86 mln rupees a year ago, while net sales increased 59.32%
on-year to 1 bln rupees.
* KARNATAKA BANK: Jan-Mar net profit up 20.5% on-year to 812 mln rupees. Total
income rose 7.5% on-year to 11.72 bln rupees.
* LARSEN AND TOUBRO: The Appellate Tribunal for Electricity has rejected L&T
Power Development's tariff increase plea for its 1,400 MW Nabha thermal project in
Punjab.
* MAHINDRA LIFESPACE DEVELOPERS: Has sold the land it was jointly developing
at Byculla in South Mumbai.
* MANAPPURAM FINANCE: Has posted Jan-Mar net profit of 323.72 mln rupees
compared to loss of 1.41 bln rupees a year ago, and net sales at 4.53 bln rupees, up 41.9%
on year.
* MPHASIS: Company is seeing strong deal pipeline in 2014-15 (Apr-Mar) with
business coming from emerging markets and from banking and insurance sector.
* NCC: Is planning to come out with its rights share issue during the second week of
August. The company posted Jan-Mar net profit of 29.09 mln rupees, down 76.4% on
year, and net sales of 22.86 bln rupees, up 16.2%.
* NTPC: Has posted Jan-Mar net profit at 30.93 bln rupees, down 29.4% on year and net
sales at 209.38 bln rupees, up 27.2%.
* PUNJAB NATIONAL BANK: Will soon take a call on whether to sell some of its bad
loans to asset reconstruction companies
* RELIANCE INDUSTRIES: The Delhi High Court has issued notice to the company
and government on a plea filed by OIL AND NATURAL GAS CORP alleging that the
company drew gas worth billions of dollars from ONGC's reserves in Krishna Godavari
basin. In response to ONGC's move of dragging the company to Delhi High Court, the
company has said that all petroleum operations have been in accordance with the
production sharing contract and development plan approved by the management
committee, which has government representatives with veto powers.
Telecom arm Reliance Jio Infocomm has entered into a master service agreement with
Tower Vision India to utilise the latter's telecom tower infrastructure to provide its
telecom services across the country. A proposal for the cabinet, prepared by the oil
ministry after elections were announced, could end up giving the company and its
partners-BP plc and Niko-benefit of over $5.5 bln over a period of time if the new
government clears it.
* S KUMARS NATIONWIDE: Jan-Mar net loss of 2.33 bln rupees against a loss of 4.29
bln rupees a year ago. Net sales fell 27.96% on-year to 6.11 bln rupees.
* SPICEJET: Has introduced a three-day discounted rate offer for flights originating in
12 cities in north and east India.
* TATA TELESERVICES MAHARASHTRA: Jan-Mar net loss narrows to 1.16 bln
rupees from 1.52 bln rupees loss a year ago, and net sales decreased 0.48% to 6.66 bln
rupees. The company has appointed N. Srinath as managing director and Suresh
Mahadevan as chief financial officer.
* TRIDENT: Jan-Mar net profit falls 10.5% on-year to 292.71 mln rupees. Net sales rose
10.8% to 9.83 bln rupees.
* UNITED BANK OF INDIA: After winding-up notice to REI AGRO, the company is
poised to take similar action against four more firms where the total default amount is
around 3 bln rupees.
* UNITED SPIRITS: Defers board meet for FY14 earnings that was earlier scheduled
for May 16.
* VEDANTA RESOURCES: Fitch has put company's long-term debt rating on negative
watch.
