·Reliance Communications allots equity shares
Reliance Communications (RCOM) announced that the Committee of Directors at their meeting held on January 20, 2015 have allotted 8,66,66,667 equity shares to Telecom Infrastructure Finance (TIFPL), a Promoter Group company, against Warrants issued to them. As a result, the Promoter Group's holding has gone up to 59.70% from existing 58.25%. The Paid up share capital of the Company is increased from Rs1201.16 crore to Rs. 1244.49 crore.
·Force Motors sets sights on defence sector
Force Motors Limited, is actively looking at tapping the huge potential that the Indian defence sector offer. It already supplying paramilitary ambulances to the armed forces since the last year.
It has the capabilities to customise our vehicles for troops movement etc.
·MRF in talks to buy Kesoram Industries tyre unit
MRF, which is India’s largest tyre manufacturer, is in discussion with Birla group company Kesoram Industries to acquire its tyre unit branded as Birla Tyres. Kesoram Industries had earlier decided to restructure its businesses and hive off the tyre division to reduce the debt on books. Birla Tyres has two manufacturing facilities one in Orissa and the other in Uttrakhand which has an excise duty benefit till 2019. However, given the low capacity utilisation at the tyre division, it has been facing losses.
·RBI asks banks to review base rate every quarter
RBI has asked banks to notify the base rate, at least once in every three months based on cost of funds, a move seen as a nudge to lenders to pass on changes in policy rate to borrowers. At present, the review of the base rate does not have a fixed schedule. While banks have the freedom to calculate cost of funds the methodology should be reasonable reasonable and transparent provided and consistent.
·Government may deregulate urea, scrapping import duty
Government is exploring to deregulating urea, scrapping import duty: Positive for Urea manufacturer like Chambal Fertilizer, RCF, NFL, SPIC, Tata Chemicals and Madras Fertilizer
As per media reports government is considering deregulating MRP of urea which is fixed at Rs5360 (increase by 16.5% since FY2000) lower than its cost of production.
Also considering, scrapping of import duty on urea which is around 5% to check subsidy cost. As per deregulation government is planning to raise price of urea by 20% each year for next 3 years.
·Blue Star posts 33.6% growth in consolidated net profit
Blue Star reported a 33.6% growth in consolidated net profit at Rs4.69 crore in Q3FY2015, due to improvement in subsidiaries performance. Standalone net profit saw almost flat growth and stood at Rs3.24 crore (versus Rs3.29 crore).Better revenue mix improved during the period and the company got more services businesses when compared to more of licence deals a year ago.
·Jaitley to boost public spending on Infrastructure
Mr. Arun Jaitley has said that the centre will focus on encouraging domestic and international investments in manufacturing and infrastructure in coming months. The centre was working on measures to support road infrastructure to kick off investments and housing, particularly in the affordable and poor segments. The development is positive for road developers like IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering among others.
·Ramky Infra bags order worth Rs209.89 crore
Ramky Infrastructure announced that the JV (70% holding Ramky Infrastructure) has been awarded the project worth Rs209.89 for rehabilitation and upgradation of NH-43 from 180km to 241km to two lane with paved shoulder in the state of Chattisgarh under NHDP-IV through EPC route by Ministry of Road Transport & Highways. The development is positive for Ramky Infrastructure.
Reliance Communications (RCOM) announced that the Committee of Directors at their meeting held on January 20, 2015 have allotted 8,66,66,667 equity shares to Telecom Infrastructure Finance (TIFPL), a Promoter Group company, against Warrants issued to them. As a result, the Promoter Group's holding has gone up to 59.70% from existing 58.25%. The Paid up share capital of the Company is increased from Rs1201.16 crore to Rs. 1244.49 crore.
·Force Motors sets sights on defence sector
Force Motors Limited, is actively looking at tapping the huge potential that the Indian defence sector offer. It already supplying paramilitary ambulances to the armed forces since the last year.
It has the capabilities to customise our vehicles for troops movement etc.
·MRF in talks to buy Kesoram Industries tyre unit
MRF, which is India’s largest tyre manufacturer, is in discussion with Birla group company Kesoram Industries to acquire its tyre unit branded as Birla Tyres. Kesoram Industries had earlier decided to restructure its businesses and hive off the tyre division to reduce the debt on books. Birla Tyres has two manufacturing facilities one in Orissa and the other in Uttrakhand which has an excise duty benefit till 2019. However, given the low capacity utilisation at the tyre division, it has been facing losses.
·RBI asks banks to review base rate every quarter
RBI has asked banks to notify the base rate, at least once in every three months based on cost of funds, a move seen as a nudge to lenders to pass on changes in policy rate to borrowers. At present, the review of the base rate does not have a fixed schedule. While banks have the freedom to calculate cost of funds the methodology should be reasonable reasonable and transparent provided and consistent.
·Government may deregulate urea, scrapping import duty
Government is exploring to deregulating urea, scrapping import duty: Positive for Urea manufacturer like Chambal Fertilizer, RCF, NFL, SPIC, Tata Chemicals and Madras Fertilizer
As per media reports government is considering deregulating MRP of urea which is fixed at Rs5360 (increase by 16.5% since FY2000) lower than its cost of production.
Also considering, scrapping of import duty on urea which is around 5% to check subsidy cost. As per deregulation government is planning to raise price of urea by 20% each year for next 3 years.
·Blue Star posts 33.6% growth in consolidated net profit
Blue Star reported a 33.6% growth in consolidated net profit at Rs4.69 crore in Q3FY2015, due to improvement in subsidiaries performance. Standalone net profit saw almost flat growth and stood at Rs3.24 crore (versus Rs3.29 crore).Better revenue mix improved during the period and the company got more services businesses when compared to more of licence deals a year ago.
·Jaitley to boost public spending on Infrastructure
Mr. Arun Jaitley has said that the centre will focus on encouraging domestic and international investments in manufacturing and infrastructure in coming months. The centre was working on measures to support road infrastructure to kick off investments and housing, particularly in the affordable and poor segments. The development is positive for road developers like IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering among others.
·Ramky Infra bags order worth Rs209.89 crore
Ramky Infrastructure announced that the JV (70% holding Ramky Infrastructure) has been awarded the project worth Rs209.89 for rehabilitation and upgradation of NH-43 from 180km to 241km to two lane with paved shoulder in the state of Chattisgarh under NHDP-IV through EPC route by Ministry of Road Transport & Highways. The development is positive for Ramky Infrastructure.
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