Shares News: Bhel may fall after ratings reduce

Stocks of Bharat Heavy Electricals (Bhel) would be in spotlight after ratings agency CRISIL in a note dated 9 March 2016, reduced its rating on the long-term bank facilities of Bhel to CRISIL AA+/Negative from CRISIL AAA/Negative. CRISIL has reaffirmed its ratings on the company's small term bank facilities at CRISIL A1+. The reduce mirrors CRISIL's belief that Bhel's business threat profile would stay guarded over the medium term by sustained bad profitability and stretch in working capital cycle. 

CRISIL anticipates Bhel's profitability to stay under pressure, and its working capital extended over the medium term on account of the challenging operating situation in the power division. The rating may be further reduced if project execution is slower than anticipated and costs stay high, leading to sustained sufferers and a high receivable spot, CRISIL said. Conversely, the view may be revised to steady if profitability recovers, backed by a structural revival in the power division, translating into sooner project execution, and development in working capital position, CRISIL said.

HDFC declared after market hours yesterday, 9 March 2016, that it intends to increase Rs 525 crore through private placement of senior secured redeemable non-convertible debentures. The coupon price of debentures is 8.72 Percent/annum with a tenor of three years 35 days. The issue opens and ends on the same day on 11 March 2016. The object of the issue is to augment the long period resources of the company. The proceeds of the issue will be utilized for financing/refinancing the housing finance business requirements of the company.

Bajaj Auto said that the board of directors of the company at its gathering held yesterday, 9 March 2016, has measured and confirmed an interim dividend of Rs 50/stock for the year closing 31 March 2016. The declaration was made after trading hours yesterday, 9 March 2016.

The Reserve Bank of India (RBI) has declared removal of restrictions placed on the buy of stocks of Kotak Mahindra Bank by foreign investors. The RBI said that the aggregate share holdings by foreign investors in the private division bank has gone beneath the prescribed limit stipulated below the prevailing foreign direct investment (FDI) policy and hence the restrictions are removed. The RBI made the statement after trading hours yesterday, 9 March 2016.

Corporation Bank declared that its board of directors at a meeting held on 8 March 2016, approved increasing of capital of the bank to the scope of Rs 1000 crore in one or more tranches with Green Shoe option if any by method of either issue and allotment of equity stocks on preferential basis or by way of additional Tier I bonds or through different other means subject to necessary approvals. This is exclusive of previous approval of the board on 6 Nov.  2014 where in Rs 500 crore by way of additional Tier I bonds and Rs 500 crore by way of Tier II bonds is yet to be increased, Corporation Bank said. The declaration was made after market hours yesterday, 9 March 2016.

Indian Share Market Opening Reviews 08 March

The Sensex and Nifty are expected to open on a lower sign following subdued trading of Nifty futures on the Singapore Exchange. The Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was fall 0.26% or 19 points at 7,491.

Meanwhile, other Asian markets were also trading with a downbeat predisposition. China's Shanghai Composite and Shanghai Shenzen indices fallen over 3% every and Hong Kong's Hang Seng and Japan's Nikkei also chop over 1% every.

Overnight, the Dow Jones industrial average and the S&P 500 index ended upper on Monday as a spike in energy shares offset sharp falls in large-cap technology names, which pulled down the Nasdaq.

STOCKS TO WATCH

Tata Motors and Bharat Forge would be in spotlight today after Tata Motors on Monday released a tri-partite partnership with Bharat Forge and US-based General Dynamics Land Systems (GDLS) to bid for India's Rs. 50,000-crore future infantry combat vehicle (FICV) project.

Tata Motors would lead the consortium with Bharat Forge as a partner while General Dynamics Land Systems (GDLS) would bring in its much-proven expertise in-combat vehicle platforms, the company said in a report.

Oil exploration shares such as ONGC and Cairn India are expected to firm following a rally in worldwide crude oil rates.

Coal India is expected to firm after the board approved payment of interim dividend of Rs 27.40/equity share for the monetary year 2015-16.

Mindtree is expected to stay muted after the company said that in dollar terms it is anticipated to report marginal (Q-o-Q) profits development for Q4 on an organic basis mainly due to delay in commencement of few projects in retail and consumer packaged goods and BFSI vertical.

Strides Shasun may firm gain after the company plans to acquire three brands of Moberg Pharma for US $10 million.

SBI in focus -Debt Recovery Tribunal (DRT) passes orders on SBI's plea seeking first right on Diageo's money, DRT order-Diageo cannot disburse money to Vijay Mallya temporarily -Diageo cannot disburse money to Vijay Mallya till March 28-Mallya cannot withdraw USD 75 million settlement received from Diageo till case disposed off-DRT to next hear the Vijay Mallya default case on March 28

Maruti Suzuki -Suzuki plans USD 1.8 billion bond sale to fund Gujarat factory,-February 2016: Produced 1.19 lakh units versus 1.21 lakh units YoY

P&G -Company to stop supply of Oral-B toothpaste: ET-Company to move away from low margin segment, stagnant market share (Posted Share Shoppe)

Share Alert, JSPL in focus after debt recast

Jindal Steel & Power (JSPL) released after market hours yesterday, 18 Feb. 2016, that it has executed a project which would qualify for the Reserve Bank of India's (RBI) 5/25 plan and is in discussion with the banks for diverse financing options including 5/25 plan. Considering the need to permit longer repayment time for term loans to projects which need elongated servicing time, RBI released 5/25 scheme to address this obligation.

State Bank of India said that the bank on 18 Feb. 2016 issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs 10 lakh each at par, with ten year tenure, bearing 8.45 Percent/annum coupon and with call option after 5 years, totaling to Rs 3,000 crore on private placement basis. The declaration was made before market hours today, 19 Feb. 2016.

Gayatri Projects declared after market hours yesterday, 18 Feb. 2016 that Thermal Powertech Corporation India (TPCIL), a joint venture amid Gayatri Energy Ventures (a wholly-owned subsidiary of Gayatri Projects) and SembCorp Utilities (a wholly-owned subsidiary of SembCorp Industries) has signed a long time power purchase agreement (PPA) with the Telangana Power Distribution Companies. Under the power buy contract, 570 megawatts of power would be sold to the Southern and Northern power distribution companies of Telangana for a time of nine years.

Seamec released after market hours yesterday, 18 Feb. 2016, that it has entered into an agreement for the charter hire of vessel 'Seamec Princess' with Synergy-Subsea Engineeering LLC for undertaking job in Persian Gulf. The tenure of the agreement will be about 21 days subject to extension. The agreement commenced with mobilisation about 3 Feb. 2016. The value of charter will be about $1.3 million.

Shriram EPC released after market hours yesterday, 18 Feb. 2016 that it won 2 orders worth over Rs 430 crore. The company won an Rs 301.05 crore order from Ministry of Roads and Highways for constructing a 50 kilometer road in Chhattisgarh on engineering, procurement, and construction (EPC) basis. Further, the company also won an Rs 137 crore order from Drinking Water & Sanitation Department of the Government of Jharkhand.

Opening Bell Asian markets join global recovery

Asian markets join worldwide recovery

Markets across Asia together the worldwide recovery as crude oil’s return to ranges previous seen at the begin of Feb. strengthen sentiment. Japan’s Nikkei share Average was gain 2.7 Percent, Hong Kong’s Hang Seng picked 2.5 Per cent and China’s Shanghai Composite sophisticated 0.3 Per cent.

US markets close on a firm note

Overnight, Wall Street indices posted increases; the S&P 500 closed 1.7 Per cent upper and the Nasdaq Composite was gain 2.2 Percent. The publish of minutes from the US Federal Reserve’s Jan. meeting demonstrated that Fed policymakers agreed that the financial outlook had become more unsure. Brent crude rates hoped 7 Per cent after Iran gave a cautious welcome to a proposed freeze on production by the globe’s leading producers, but stopped small of committing to cutting its own production.

Govt to infuse more capital in PSBs

Stocks of public sector banks (PSBs) would be in spotlight as the government is preparing to force in a higher-than-anticipated sum into weakly performing state banks. The government may infuse as much as $34 billion additionally and make it harder to strike planned deficit goals. rush in provisions for poor loans in a RBI-directed balance sheet clean-up exercise has sent several lenders into sufferers, hitting their share rates and limiting their ability to safe external funding as the wealth wobbles.

ICICI Bank to lend more to retail customers, go slow on corporate book

ICICI Bank Ltd, India’s leading private division bank, plans to lend more to retail clients and go slow and be more careful with corporate loans. ICICI Bank is making an effort to decrease so-called “concentration risk”, or lending too much to one company, business group or industry.

Motherson Sumi Systems in talks to buy IAC owned by Wilbur Ross

Motherson Sumi Systems Ltd stocks would be in spotlight as it is in advance discussions with billionaire shareholder Wilbur Ross to purchase one of his portfolio companies worldwide Automotive Components Group for $750-800 million. Restructuring Guru Ross is looking to cash out of the low margins business tracking aborted effort sof an IPO.

HDFC Bank’s MD Aditya Puri undergoes cardiac surgery

HDFC Bank Ltd said its managing director and chief executive officer Aditya Puri had undergone cardiac surgery on Tuesday, the operation was winning and he was recovering. According to the notification, the bank doesn’t anticipate its operations to be affected during the time of Puri’s lack. In December 2013, Paresh Sukthankar was endorsed to the post of assistant managing director in a roll that was seen as an effort at succession planning.

Jindal Steel & Power (JSPL) after market hours yesterday, 17 Feb.  2016 in a clarification with regard to latest demote of the company's ratings by the rating agency Crisil said that the company has been pursuing monetization actions as earlier showed and would come out with the appropriate declaration as and when any transaction is fulfilled. JSPL said it considers that minimum import price (MIP) declared by the Government of India, better demand/better utilisation of capacity and winning conclusion of monetization opportunities would recover financial results/cash flows significantly for the company in the then 6 to 12 months.Posted by Swastika Investmart Website :- www.swastika.co.in

Shares in News Today Focus in Bharti Airtel, Adani Ports, Cipla

Bharti Airtel after trading hours yesterday, 16 Feb. 2016, declared varies at top management at its Africa operations. Christian Defaria, managing director (MD) and CEO, Airtel Africa, has been elevated to the spot of Executive Chairman, Airtel Africa. In his fresh job, he would maintain to sustain the vision of Airtel Africa and lead all matters relating to legal, regulatory affairs, investors as well as Mergers & Acquisitions. Raghunath Mandava, who is presently Director – Customer Experience, India & South Asia, would take over as Chief Operating Officer, Airtel Africa. Mandava would relocate to Nairobi and would be fully liable for the commercial operations. As per the fresh cluster based organization design, the 15 African operating companies would now be classified into eight clusters with all cluster heads reporting to Mandava.

Adani Ports and Special Economic Zone (APSEZ) after market hours yesterday, 16 Feb. 2016 said it has increased Rs 750 crore by allotment of 7,500 rated, listed, taxable, protected, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each on private placement basis. The NCDs would be listed on the wholesale debt market section of BSE.

Cipla after trading hours yesterday, 16 Feb. 2016, declared that it shows that the Government, based on the advices of the Foreign Investment Promotion Board, approved the proposed asset by FIL Capital Investments (Mauritius) II Limited in Cipla Health, subsidiary of the company. The asset is still subject to other conditions precedent and the transfer of Company's consumer healthcare business to Cipla Health.

The government declared yesterday, 16 Feb. 2016, that it approved initial asset of Rs 128.96 crore from FIL Capital Investments (Mauritius) II in Cipla Healthcare, a totally owned subsidiary of Cipla, by approach of subscription to new equity stocks and CCPS up to a maximum of 26.11 Per cent of the share capital of Cipla Healthcare. The government also approved asset of upto Rs 16.26 crore by FIL Capital Investments (Mauritius) II in subsequent rounds of asset in Cipla Health post the ending of the initial investment.

Valecha Engineering after trading hours yesterday, 16 February 2016, announced that it bagged two projects worth Rs 398.03 crore. The company bagged an order worth Rs 308.77 crore for rehabilitation and upgradation of National Highway 43 to two lanes with paved shoulder in Chhattisgarh on engineering, procurement, construction (EPC) basis. Further, the company won an order worth Rs 89.26 crore for construction of rail flyover for harbour line at Kurla in connection with Mumbai CST-Kurla 5th and 6th lines project.

Manappuram Finance Q3 net profit rises 25% to Rs 100 cr , Manappuram Finance today noted a climb of 24.5% in its merged net revenue at Rs 100.34 crore during Q3 closed Dec. The company's merged net revenue had stood at Rs 80.60 crore in the corresponding (Oct-Dec) quarter of last fiscal. The total income of the gold loan financing firm increased to Rs 620.72 crore for the quarter closed Dec. 2015 as against Rs 516.69 crore for the time closed Dec. 2014.