BFL - Bharat Forge Limited

Bharat Forge Limited (BFL) operates in two segments:

Forgings and General Engineering.

The main segment is Forgings.
General Engineering is a fabrication unit, which constitutes a miniscule portion of the Company's activities.

As of March 31, 2009, BFL had manufacturing operations with four plants in India, three plants in Germany, two plants in China and one plant each in Sweden, Scotland and the United States.

Bharat Forge Limited (BFL), the flagship company of the USD 2.4 billion Kalyani Group, manufactures various forged and machined components for the automotive and non-automotive sector.

Since commencement of operations in 1966, BFL has achieved several milestones and is today among the largest and technologically most advanced manufacturer of Forged & Machined components. As one of India’s emerging multinationals, the company has manufacturing operations across 12 locations and 6 countries - 4 in India, 3 in Germany, one each in Sweden, Scotland, USA & 2 in China.

Our customers include the top five Passenger Car & top five Commercial Vehicle Manufacturers in the world. The list includes virtually every automotive OEM and Tier I companies.

Backed by a full service supply capability and dual-shore manufacturing model, Bharat Forge provides end-to-end solutions from product conceptualization to designing and finally manufacturing, testing and validation.

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Bharat Forge plans to raise up to $150 million (approximately Rs 730 crore) through equity or equity-linked securities to meet long-term capital requirements. Since the stock has done well to rally from its lows — it had fallen to nearly Rs 80 — to Rs 225 levels at present, it’s a good time to issue shares, even if it results in dilution of the equity base by 10-12 per cent.

While the home market for automobiles is showing signs of recovery, the weakness in the overseas markets could continue to impact the auto-parts maker probably for another year. The Rs 4,774-crore company’s revenues came off sharply in the June 2009 quarter to Rs 360 crore, a drop of 44 per cent year-on-year, with exports particularly badly hit (by over 50 per cent). That wasn’t really unexpected given the poor demand in the overseas markets.

In fact, consolidated revenues plunged 54 per cent year-on-year to Rs 600 crore. The weak top line, together with high outflows on interest and other expenses, resulted in the company posting a loss. If the Pune-based company’s revenues rose sequentially — with both domestic business and exports reporting a reasonably good growth — and if the operating profit margins showed a sequential improvement to 20.9 per cent from 14.6 per cent in the March 2009 quarter, it was largely due to some improvement in the core business, favourable currency movements and a higher contribution from the non-automotive parts division. Nevertheless, the domestic commercial vehicles market appears to have bottomed out and the demand for medium and light vehicles has been improving over the past few months.

However, it could be a while before the European and the US truck markets recover; industry watchers believe this could happen sometime in 2010-11 with the European market lagging the US market.

The company has managed to sustain margins at its overseas subsidiaries by restructuring operations but the benefits of these initiatives should come through only next year. So, it’s surprising that the stock has had such a sharp run-up; at Rs 225, the stock trades at over 20 times estimated 2010-11 and is expensive.

Bharat Electronics Limited : Company Review

BEL

Bharat Electronics Limited (BEL) is a multi-product company manufacturing a range of products in the areas of

radars,
sonars and naval systems;
communication equipments and systems;
electronic warfare and avionics systems;
command and control systems;
electro-optic devices and related systems;
tank and weapon electronics;
components, such as discrete electronic and microwave;
upgrades of equipments and systems,
and shelters.

These equipments are supplied to a range of customers, including the Army, Navy, Air Force, Paramilitary forces, Indian Meteorological Department and others.

During the fiscal year ended March 31, 2008 (fiscal 2008), 20 new products were introduced and supplied. The products include Central Acquisition Radar (CAR), Doppler Weather Radar (DWR), Artillery Combat Command & Control System, Optronic Pedestal, Briefcase Satcom Terminal, Combat Management System, Internet Protocol (IP) Encryptor, Project Prateeksha, Optical Tracking System and Space Grade Components.

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Bangalore, Aug. 24 Bharat Electronics Ltd expects to invest Rs 1,000-1,500 crore in joint ventures to create critical technologies for national security over the next three years. It is pursuing three-four joint ventures with multinational and domestic companies, BEL’s Chairman and Managing Director, Mr Ashwani Kumar Datt, told Business Line.

The defence public sector company has been in talks for technology tie-ups with Israel’s Rafael Advanced Defense Systems Ltd and Elbit Systems (NASDAQ:ESLT) Electro-optics (El-Op), Europe’s Selex Galileo and Thales, Boeing (NYSE:BA) and the Hyderabad-based Astra Microwave.

Out of the dozen possibilities under consideration, “Our target is that at least one should get decided by March 2010; and a few more during 2010-11,” said Mr Datt, who took charge of the Rs 4,600-crore company in May. “We may not need more than three or four joint ventures.”

BEL develops futuristic products for the Armed Forces that contribute 80 per cent of its revenues. Mr Datt said it had short-listed thermal imagers, ATM radars, air-borne electronic warfare systems, missile electronics and guidance systems as priority technologies to acquire through tie-ups or special arrangements.

“Over two-three years we should be investing Rs 1,000-1,500 crore for these.” Last year, it roped Bharat Dynamics Ltd and Tata Power Co into a consortium to make the Akash surface-to-air missiles on the IAF’s Rs 1,200-crore order. It has similar arrangements with ECIL and HAL and a Rs 2,500-crore solar cells venture plan with fellow PSU BHEL.
NIGHT VISION TECH

Acquisition of night-vision technologies, now available with very few countries, he said, was a priority, for which BEL was talking with Elbit El-Op and Photonis. Night vision goggles and binoculars for personnel and electro-optic systems mounted on vehicles, battle tanks, aircraft and ships give a big boost to internal security.

Potential partners had been engaged in discussions for some time now, but as owners of high technology, they preferred to have larger stakes in a joint entity than the 26 per cent FDI that the Ministry of Defence allows. This was an important issue in some of the joint venture proposals that are being discussed, Mr Datt said.

Until last year, the cash-surplus BEL planned to buy one or two technology-rich companies overseas with a kitty of Rs 50-100 crore. “We are wiser now than before that acquiring companies abroad is difficult. It is unlikely to happen.”

Last year, it enlisted KPMG to advise on new growth areas. “The aim is to create a new area that can give us business of Rs 500 crore in two years,” Mr Datt said. “We have agreed on five areas for exploration. KPMG has been retained to give us more information on the investment required, returns on it, the business potential and the mode of doing it.”

For the current year, BEL plans to invest Rs 700 crore across its production units towards new manufacturing/testing equipment and for establishing a new business venture.

A New Test Begins Here - Related Markets

I want to test that weather this is true that normally Chinese market for particular day closes and ours opens.Same way for Nikkie and Hangshang of Hongkong.. Now this markets reflects a lot for today's market condition....

The simple equation is that :

If china index is low, Nikki will be low, Hangshang will be low and there is very little chance for Our NSE or BSE sensex to outperform this global cues, very rarely market will show major correction...

So simply putting in Mind, Check global markets before starting days trading...

This is the talk of asian markets......

Now Consider foreign markets that are of US,UK,FRANCE...

when we are done at 3:55 PM on each day... and then we will be at home eating dinner and at that point FOREIGN markets will start their trading sessions...
They will also follow the asian markets ( most often the case is same )...

and when they outperform asian markets and ends up on a high note, next day at a start of a session buy some stocks, sell them at the end, the percentages of ur gaining will be lot more...

Sensex : Ended with green SIGNAL

The Sensex ended in positive terrain supported by IT, consumer durables and oil & gas stocks. Smallcap index outperformed Midcap index. It opened on a bearish note with a loss of 54.84 points, at 15,573.91 on Tuesday tracking negative global cues. After few minutes of trading in the red, the index recovered and entered into the positive territory on buying seen in index pivotals and continued to trade in the green to finally close on a higher note, touching a high of 15,735.32.

BSE Midcap and Smallcap index rose 0.58% and 1.50% respectively.

Asian stocks declined led by mining and finance companies on lower profit at Chinese companies and amid speculation loan losses in the US will increase. Japanese benchmark index Nikkei fell 83.69 points, or 0.79%, to end at 10,497.36. Hong Kong`s Hang Seng index declined 100.70 points, or 0.49%, to close at 20,435.24. China`s Shanghai Composite decreased 77.63 points, or 2.59% to settle at 2,915.80.

European stocks fell as a drop in metals and oil dimmed the earnings outlook for commodity producers and SunTrust Banks said lenders face more credit losses. UK`s benchmark index FTSE 100 fell 20.19 points, or 0.39%, to trade at 4,877.01. French benchmark index CAC 40 lost 7.30 points, or 0.20%, to trade 3,645.49. Germany`s benchmark index DAX decreased 12.06 points, or 0.23%, to trade at 5,507.32. (4:20 p.m., IST)

The Sensex ended the day with a gain of 59.72 points, or 0.38% at 15,688.47 after touching a high of 15,735.32 and a low of 15,423.39. The broad-based NSE Nifty climbed 16.55 points, or 0.36% at 4,659.35 after hitting a high of 4,672.90 and a low of 4,582.50.



Major gainers in the 30-share index were Tata Motors (7.10%), Wipro (3.86%), Reliance Industries (2.51%), Reliance Communications (2.22%), Grasim Industries (2.04%), and NTPC (1.69%).

On the other hand, State Bank Of India(2.36%), Bharat Heavy Electricals (1.76%), Bharti Airtel (1.62%), ICICI Bank (1.07%), Oil & Natural Gas Corporation (1.00%), and Maruti Suzuki India (0.95%) were the major laggards in the Sensex.

Overall market breadth was positive. Out of the total 2,816 stocks traded at BSE, 1,681 advanced, 1,060 declined while 75 remained unchanged.

Gainers in the sectoral indices were BSE IT which gained 1.92%, Consumer Durables rose 1.80%, Oil & Gas gained 1.13%, HC gained 1.08%. Among major losers in the sectoral indices - BSE Bankex fell 0.88% and PSU dropped 0.40%.



Indices Trend
Sensex Nifty
Period Value % Change Value % Change
1 Week 14,784.92 6.11 4,387.90 6.19
1 Month 15,378.96 2.01 4,568.55 1.99
3 Months 13,589.23 15.45 4,116.70 13.18
6 Months 8,902.56 76.22 2,762.50 68.66
1 Year 14,564.53 7.72 4,360.00 6.87

Market Today

14 - august - 2009

The 30 share index, Sensex picked up 251.39 points, or 1.66%, to end at 15,411.63 in the week ended Aug. 14, 2009. On the other hand, the broad based NSE Nifty gained 98.65 points, or 2.20%, to end at 4,580.05 in the same period.

The Indian equities made a good come back during the week contrary to last week plunge on the back of encouraging global cues, good corporate earnings and intense buying interest. US Fed announcement of that the recession is easing along with strong IIP data and the new direct tax code unveiled by finance minister Pranab Mukherjee helped in boosting the market sentiment. However, fears of Swine flu and widening monsoon deficit continued to hover as dark over Indian equities.

The U.S. Federal Reserve on Wednesday, August 12, resolved to keep the key interest rates unchanged, at 0 to 0.25%. Federal Open Market Committee (FOMC) of the US Federal Reserve opined that the US economic activity is levelling out, and conditions in financial markets have shown further improvement in recent weeks.

Meanwhile, Index for industrial production (IIP) bounced back sharply in the month of June 2009, witnessing a growth of 7.8% as against growth of 2.7% in the previous month (May 2009).

For the week ended Aug.1, 2009, India`s benchmark wholesale price index (WPI), annual inflation continued to tread in negative zone, standing at -1.74% as compared -1.58% a week ago.

The government on Wednesday, August 12 unveiled radical tax reforms through a draft code that aims at moderating income tax rates, abolishing Securities Transaction Tax and increasing deduction for savings up to Rs 300,000.

The new direct taxes code has suggested a significant expansion of personal income-tax slabs, with levels of relief going up with incomes. Along with reducing the corporate tax rate to 25% abolish Securities Transaction Tax (STT), it also suggests reintroduction of tax on long term capital gains on securities trading.

Primary market activity also gained momentum during the week. Initial public offering (IPO) of National Hydroelectric Power Corporation (NHPC), India`a largest hydel power generator has been subscribed 23.62 times on close, with major subscription coming from qualified institutional buyers.(9.49 times). The shares of the company are likely to be listed by first week of September.

JSW Energy, an energy company and part of the Sajjan Jindal-led JSW Group is planning to enter the capital markets with a public issue of equity shares of Rs 10 each for cash at a price including a share premium aggregating up to Rs 30 billion at the time of issue to be decided through a 100% book-building process.

Edible oil firm Raj Oil Mills on Wednesday, August 12 got listed with a premium of 4.20% against its issue price of Rs 120 a share on the Bombay Stock Exchange (BSE). Meanwhile, on the National Stock Exchange, the company got listed on par with its issue price.

Meanwhile late on Friday evening, JSW Energy, an energy company and part of the Sajjan Jindal-led JSW Group is planning to enter the capital markets with a public issue of equity shares of Rs 10 each for cash at a price including a share premium aggregating up to Rs 30 billion at the time of issue to be decided through a 100% book-building process.

Mid-cap stocks gained 170.56 points, or 3.14%, to 5,603.81 in the week. While small-cap shares climbed 218.8 points, or 3.53%, to 6,412.56 during the week.

Major gainers over the week in the sectoral indices were Realty gained 7.78%, Metal 4.77%, Oil & Gas rose 3.25%, HC climbed 3.03%, and BSE Conusmer Durables went up 3.02%.

Meanwhile, FMCG dropped 0.07% was the only major loser in the sectoral indices over the week.

Day Today

it has been a day man...
wake up early... for a change,,, ateet went to baroda... so no bath jaghda.... peacefully bathed, and then i and gajju took auto to vashi station.... and then in to the company.... ate dhosa in canteen and then went up to my cubical,,, and saw that the weekly meeting of defect tracking was on... sanchita was smiling at me,,, with sonali was clearly looked in trouble with prasad was going over the defect he identified in lightspeed, ashok was too much excited and told sonali that " defend ur point cleverly"... which she was not able to do bcoz she had done mistake, and she also accepted it that she missed it.

now sanchita's turn came, when archana had identified three defects from the last weeks table work we had done, and as usual the mistakes were in the dhava's work, as he had done a typo error at entering the data table... then another defect she explained was big shock to her, as it was done due to mistake in TR form, so suhas, ram and vik ( big 3 ) said her that next time she send form, review it at her end, correct such mistakes and then only send the form, sanchita ws happy, me too, but archana wouldn't be that that happy with that...

done nothing in office today,,, had lunch of shrikhand, puri pulav ( It's janmashtami today) with aditya, gajju and bhushan, went up after taking lunch and opened a novel DECEPTION POINT of DAN BROWN, as i was about to finish FALSE IMPRESSION by today. yes deception point is my next target.


TODAY IS JANMASHTAMI
but swine flue's effect is that much higher that every one has abandoned the celebration of it, so i think there will not be any DAHI HANDI program today.


today is also bhamri's b'day... i also called her to say her happy b'day.... Now i remember everyone's birthday as i have google calender service with me, it notifies with a text message on my mobile for the next b'day.... thanx google...

NTPC Q1 net up 27 pct, to add more capacity

Net profit up on higher power generation

* To add 3,300 MW capacity this FY

* To appoint merchant bankers for buying coal mines abroad

(Adds details, quotes)

NEW DELHI, July 27 (Reuters) - India's NTPC Ltd (NTPC.BO) on Monday said its net profit rose by more than a quarter on higher electricity sales and it planned to increase generation capacity by a tenth in the current fiscal year.

Chairman R.S. Sharma said NTPC, India's largest power producer, would spend 170 billion rupees ($3.5 billion) during the year to March 2010 to add 3,300 megawatts (MW) more to its capacity of about 31,000 MW at the end of March 2009.

NTPC has been scouting for coal mines abroad to feed its plants and is in the process of appointing merchant bankers for buying coal blocks in Indonesia, Mozambique and Australia, Sharma said. Merchant bankers and technical consultants for two coal blocks in Indonesia would be appointed within a week, he said.

The state-run firm said its net profit rose to 21.9 billion rupees for its fiscal first-quarter ended June from 17.3 billion a year earlier.

Net sales rose to 120 billion rupees from 95.4 billion rupees.

"Primarily it's on generation growth," Sharma told reporters of the rise in net profit.

NTPC generated 11 percent more power at 52.14 billion units in the April-June quarter, from 46.97 billion units during the year-ago period, he said.

Coal shortages in India are plaguing growth in power generation and the government earlier this month said the country would be able to add only 70 percent of its planned target of 14.5 gigawatts capacity for the year to March 2010.

But NTPC has not suffered any generation loss due to coal shortage, Sharma said and was confident about the future.

"I must be able to maintain generation level at (more than) 90 percent," he said.

NTPC plans to import 12.5 million tonnes of coal this fiscal, higher than 8.5 million tonnes it imported last fiscal, Sharma said. ($1=48.2 rupees) (Reporting by Devidutta Tripathy; Editing by Mariam Karouny)

GVK Power Q1 profit falls to INR 1.85 crore

GVK Power & Infrastructure Limited has announced the unaudited financial results for the quarter ended June 30th 2009. It has posted a net profit of INR 18.50 million for the quarter ended June 30th 2009 as compared to INR 90.00 million for the quarter ended June 30th 2008. Total income has decreased from INR 136.20 million for the quarter ended June 30th 2008 to INR 98.80 million for the quarter ended June 30th 2009.

The Group has posted consolidated net profit after tax minority interest of INR 327.30 million for the quarter ended June 30th 2009 as compared to INR 405.50 million for the quarter ended June 30th 2008. Total income has increased from INR 1413.70 million for the quarter ended June 30th 2008 to INR 3359.90 million for the quarter ended June 30th 2009.

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ABOUT GVK
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GVK Power & Infrastructure Limited is an India-based company.
The Company is focusing on power generation assets (gas, hydel and thermal), roads, airports, coal mines and oil and gas. On May 9, 2008, the Company acquired GVK Developmental Projects Private Limited.
On November 27, 2008, the Company acquired GVK Energy Limited.
The Company’s wholly owned subsidiary GVK Aviation Private Limited ceased to be a subsidiary with effect from September 30, 2008.

Maoists threaten to attack NALCO mine

BHUBANESWAR, India (Reuters) - Security was tightened at the National Aluminium Co Ltd (NALCO) bauxite mine, after the company received a letter from suspected Maoists threatening to attack the site, a top official said on Wednesday.

"The letter came to us by post few days ago and we have beefed up security," P.K. Mohapatra, executive director (mines and refinery) told Reuters.

In April, Maoist rebels attacked the mine in Orissa and killed 10 police before fleeing with explosives.

The mine which has a capacity to produce 4.8 million tonnes of bauxite a year for the company's refinery nearby, had seen a temporary fall in output after the attack in April.

In the letter, the rebels asked NALCO to provide 2,000 contract labourers with permanent jobs within a month.

The rebels regularly carry out similar raids in other factories in eastern and central India as well, officials said.

The Maoists, who say they are fighting for the rights of poor farmers and landless labourers operate in several parts of the country, mostly attacking government personnel and property.

Orbit Corp starts $30 mln QIP issue

MUMBAI (Reuters) - Real estate firm Orbit Corp Ltd opened up to $30 million share placement to institutional investors on Wednesday, two sources told Reuters.

The company will sell the shares at around 185 rupees each, the sources said.

Kotak (KOTAKBANK.NS : 714.65 -11.45) Mahindra Capital, Macquarie Capital and Edelweiss Capital are the arrangers to the issue.

NHPC IPO generates investor demand for Rs 1.42 lakh cr shares

NEW DELHI: Signaling the revival of investor interest in the primary market, the initial public offering of state-run NHPC has generated demand for shares worth Rs 1.42 lakh crore, an amount nearly 23 times the value of scrips on offer.

Analysts believe that the overwhelming investor response in the NHPC IPO is expected to encourage other public sector firms to tap the primary market route to raise funds.

Adani Power, the initial public offer of which closed early this month, also witnessed a stupendous response, with the IPO getting subscribed over 20 times the shares on offer.

While Adani Power issue had generated a demand for shares worth over Rs 53,841.80 crore, NHPC was subscribed nearly 24 times and garnered a demand for Rs 1.42 lakh crore shares.

Analysts believe that with stellar response in both the IPOs, the primary market is back on track and more companies which are waiting on the sidelines would think of hitting the capital market now.

The NHPC issue, which closed today, received bids for over 3,946.85 crore shares against 167.73 crore on offer, garnering a demand of 23.68 times the shares on offer, as per data available on the National Stock Exchange.

Investment banking sources said most of the bids came in at Rs 36, thereby signaling that the issue price would be fixed at the higher end of the price band. The company would be listed in the first week of September.

ADAG firm Adlabs Films plans rights issue of up to Rs 600 cr

MUMBAI: Anil Dhribhai Ambani Group (ADAG) company Adlabs Films on Wednesday said it planned to raise up to Rs 600 crore by way of a rights issue.

The price and share ratio would be announced in due course, the company said in a release here.

The proceeds of the rights issue would be used for expansion and growth opportunities including investment in various projects in India as well as abroad, it said.

The film and entertainment services company, which earned revenues of Rs 733 crore in FY 09, plans to expand its worldwide exhibition screen-count from 428 screens in April to over 570 screens in the next one-year.

It plans to set up a 2,00,000 sq.ft state-of-the-art studio and sound stages at Film City, Mumbai, and enhance the inventory of film and broadcast cameras, lights and post- production infrastructure, the release said.

Adlabs is also setting up a 1,200-member media BPO, specialising in content processing, image enhancement and restoration services.

Maytas gets nod to exit biotech SEZ

NEW DELHI: The government on Tuesday allowed Maytas Ventures — promoted by relatives of scam-tainted former CEO of Satyam B Ramalinga Raju — to give up its bio-tech SEZ in Hyderabad. No decision, however, was taken on RIL’s request of getting a two-year extension for completing the process of acquiring land for its multi-product zone at Gurgaon.

The board of approval (BoA) for SEZs — a group of senior government officials which approves new SEZ proposals and various related activities — also gave its approval to three new proposals that includes Brooke Bond real estate’s proposal of setting up an IT/ITES SEZ in Karnataka. The other two approved proposals are for setting up an electronics hardware & ITES SEZ by Karnataka State Electronics Development Corporation and a solar SEZ in Orissa to be developed by Lanco Solar at Ramdaspur in Cuttak.

The board decided to enlarge the list of default operations — activities for which developers are allowed to get approvals from their zonal authorities and skip the long-drawn process of getting it vetted from the BoA. The additional activities for which the relaxation is being considered include setting up of play zones, bus bays, effluent treatment plants and pipelines and Wi-Fi, Wi-Max services

While the BoA decided to allow Maytas Ventures to withdraw its bio-tech SEZ as the company had pleaded that it did not have enough resources to go ahead with the project, it did not agree to the request that the sales tax enjoyed by the developer while executing the project be waived off. The board directed that “denotification” of the SEZ will be allowed provided the company paid back Rs 31 lakh worth of service tax exemption it had availed of, a commerce department official said.

A decision on RIL’s request of a two-year extension in the time allowed to launch its multi-product SEZ in Gurgaon was deferred by the BoA. The BoA has already given two extensions to the ambitious project, originally planned over an area of 25,000 acres, but later reduced it to 12,000 acres. The developers have managed to acquire a small portion of the land so far.

During the first quarter of current financial year, total export of Rs 39,411 crore was made from SEZs marking an increase of 25% over exports in the first quarter of the previous year.

Sun Pharma gets US nod for two generic drugs

BANGALORE: Sun Pharmaceutical Industries has got the US Food and Drug Administration's approval to launch its generic version of

GlaxoSmithKline's Imitrex tablets to treat migraine, the Indian drugmaker said.

Sun Pharma, India's largest drugmaker by market value, has also received US regulatory approval to launch oxaliplatin injections, the copycat version of Sanofi-Aventis' Eloxatin that is used to treat colon and rectal cancer, it informed the Bombay Stock Exchange on Wednesday.

Sun Pharma will share a 180-day marketing exclusivity for oxaliplatin with three other generic makers, the Indian firm said.

Oxaliplatin injections have annual sales of about $2.3 billion in the United States.

Sterlite sweetens offer price for Asarco assets

MUMBAI: The battle for US copper mining firm Asarco is expected to be over by the end of this month with the bidders, Sterlite Industries and Grupo Mexico, revising their offers.

India’s largest copper maker Sterlite Industries on Tuesday announced that it had revised its bid for acquiring the assets of Asarco, which is attempting to emerge from court-supervised bankruptcy, for a cash payment of $1.58 billion and a deferred payment of $208 million through participatory notes after its rival sweetened its offer by increasing the cash portion by $260 million and revised the total value of its bid to $2 billion. Earlier, Sterlite, a part of London-listed Vedanta, had offered to pay $1.1 billion in cash and $770 million by way of participatory notes.

A person at Sterlite told ET: “The consideration was changed to reflect a rise in copper prices and to meet the expectations of creditors.” Asarco’s creditors will choose from these two offers next week and will then approach the US bankruptcy court for its nod. The successful bid needs to be supported by three-fourths of creditors. Asarco is undergoing a Chapter 11 bankruptcy proceeding, under which a company enjoys some protection from its creditors, while it tries to restructure under court supervision.

Asarco, founded in 1899 as the American Smelting and Refining company and whose owners have included members of the Rockefeller and the Guggenheim business dynasties, has around five million tonne of copper reserves and produced 235,000 tonne of refined copper in 2007.

In fiscal 2008, Asarco had revenues of nearly $1.9 billion and $393 million in profit before tax. Asarco is a 110-year-old company and is the third largest copper producer in the US. It filed for bankruptcy in 2005 after running up more than $1 billion in environmental claims.

Sterlite chairman Anil Agarwal had said that the acquisition was in line with the Vedanta’s “strategy of leveraging its existing skills to become a diversified global copper producer and creating long-term value for shareholders.” Vedanta, in addition to its Indian assets, has equity ownership in Zambia’s Konkola Copper Mines.

The rival offers are not strictly comparable as Sterlite wants to buy Asarco’s assets while Grupo Mexico is interested in buying the company in its entirety. “The US bankruptcy court is expected to announce the winning bidder by end of this month,” said the person quoted earlier.

In April, a federal judge in Texas awarded a judgement against Americas Mining Corp, a unit of Grupo Mexico, accusing it of fraudulently transferring to itself Asarco’s erstwhile controlling interest in Southern Copper. The court award includes about 260 million shares of Southern Copper Corp and about $1.4 million in cash.

Jaypee Group, L&T ink Rs 4,000-cr deal for equipment supply

Jaiprakaskh Power Venture promoted Jaypee Group and construction firm Larsen & Toubro Wednesday signed Rs 4,000-crore agreement for the supply of boiler and steam turbine generator.

"As per the agreement, L&T will supply super critical units for the 2x660 MW thermal power project for Jaiprakash Power Venture," the company said in a statement.

Market Today

Indian equities potrayed a good recovery show at the fag end of the session, though it closed marginally lower. Buying was seen in realty and health care stocks. On the other hand, IT and Metal stocks witnessed selling spree.

Major gainers in the sectoral indices were BSE Realty (2.15%), Health Care (1.31%) and Auto (0.36%). Meanwhile, BSE IT (1.78%). Metal (1.63%) and Oil&Gas (0.63%) were major losers in the sectoral indices.

BSE Midcal and Smallcap stocks too moved up smartly gaining 0.28% and 0.47% respectively.

On the global front, Asian stocks fell for the first time in three days and Chinese shares entered a so-called correction, amid concern a rally in equities had outpaced earnings prospects. Japanese benchmark index Nikkei fell 150.46 points, or 1.42%, to end at 10,435 meanwhile Hong Kong`s Hang Seng index declined 638.97 points, or 3.03%, to close at 20,435.24. On the other hand, China`s Shanghai Composite lost 152.01 points, or 4.66% to settle at 3,112.72.

European however traded positive at the time of close, UK`s benchmark index FTSE 100 gained 24.26 points, or 0.52%, to trade at 4,695.60 while French benchmark index CAC 40 gained 17.757 points, or 0.51%, to trade at 3,473.93. Germany`s benchmark index DAX climbed 34.76 points, or 0.66% to trade at 5,320.57.

The Sensex ended the day with a loss of 54.43 points, or 0.36% at 15,020.16 after touching a high of 15,043.62 and a low of 14,701.05. The broad-based NSE Nifty declined 13.85 points, or 0.31% at 4,457.50 after hitting a high of 4,473.80 and a low of 4,359.40.

Major gainers in the 30-share index were Bharti Airtel (5.84%), Tata Motors (4.41%), D L F (2.91%), Jaiprakash Associates (2.73%), Sun Pharmaceutical Industries (2.73%), and H D F C Bank (1.64%).

On the other hand, Tata Steel (4.20%), Tata Consultancy Services (4.11%), Hindustan Unilever (2.32%), Infosys Technologies (1.87%), Hindalco Industries (1.85%), and Oil & Natural Gas Corporation (1.82%) were the biggest losers in the Sensex.

Overall market breadth was marginally negative. Out of the total 2,681 shares traded at BSE, 1,214 advanced, 1,368 declined while 99 remained unchanged

Graphite India Q1 net profit up by 35.43pct

Sunday, 09 Aug 2009


Graphite India reported a 35.43 % rise in net profit at INR 45.18 crore for the Q1 ended June 30th 2009 as compared to a INR 33.36 crore net in the previous year. The growth in profit comes despite a 14.53 % drop in Graphite India’s April to June gross sales revenue at INR 244.51 crore,

Graphite India’s net sales for the quarter under review too dipped by 13.99 % to INR 234.44 crore and interest outgo to INR 3.87 crore. Depreciation costs, however was marginally up at INR 9.81 crore. Incidentally, the company’s quarter results include the numbers of Powmex Steel division consequent to its merger with the company with effect from February 1st 2009.

Mr A KK Bangur group flagship with interests in graphite electrodes, Graphite India produces 60,000 tonnes of graphite electrodes in India and another 18,000 tonnes in Germany.

Mr KK Bangur chairman of Graphite India attributed the improved performance to higher sales realization FOREX gains and reduction in operational cost despite lower volume of sales. He added that "The performance of the company’s electrode division during the quarter was affected due to low demand from the steel industry which continues to reel under global recession. Since the economic stimulus announced by various countries is expected to gradually lead to increased consumer demand for steel, especially in the housing, infrastructure, white goods and automobile sectors, demand for graphite electrodes is also expected to pick up from the second half of 2009-10.”


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profile
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Graphite India Limited is an Indian company that operates through three segments: graphite and carbon segment,
power segment and
other segment.

Graphite and carbon segment is engaged in the production of graphite electrodes, anodes, and other miscellaneous carbon and graphite products.

Power segment is engaged in the generation of power.

The other segment is engaged in manufacturing of impervious graphite equipment (IGE) and glass reinforced pipes (GRP).

The Company's coke division in Barauni is engaged in the manufacture of calcined petroleum coke, electrode paste and tamping paste.

Its IGE division manufactures and markets heat exchangers, ejectors, pumps and turnkey plants at its Nashik Works.

Market Today

The Sensex ended the day on a positive note. Auto, realty and metal stocks gained ground, while PSU edged lower. It opened with a loss of 9.39 points, at 15,000.38 on Tuesday tracking global cues. It pared all its early losses and moved up into the positive territory on the back of buying interest seen in frontliners. It continued to trade on a firm note till after noon trades. However, the index shed gains and again fell into the negative territory, to bounce back into the positive zone. Even opening of positive European market added fuel to the sentiment.

BSE Midcap and Smallcap index rose 1.10% and 0.55% respectively.

Among the sectoral indices, BSE Auto surged 3.07%, Realty and Metal gained over 2% each, while PSU dipped 0.02% respectively.

Asian stocks rose for a second day as earnings reports and brokerage upgrades boosted confidence that corporate profits are recovering from the global recession. Japanese benchmark index Nikkei gained 61.20 points, or 0.58%, to end at 10,585.46. Hong Kong`s Hang Seng index picked up144.69 points, or 0.69%, to close at 21,074.21. China`s Shanghai Composite gains 14.97 points, or 0.46% to settle at 3,264.73

European stocks rose as Resolution agreed to buy Friends Provident Group and a report showed the UK housing market improved in July, fuelling speculation the recession is ending. UK`s benchmark index FTSE 100 declined 8.06 points, or 0.17%, to trade at 4,714.14. French benchmark index CAC 40 rose 2.02 points, or 0.06%, to trade at 3,506.56. Germany`s benchmark index DAX dropped 22.82 points, or 0.42% to trade at 5,395.30. (4.10 p.m., IST)

The Sensex ended the day with a gain of 64.82 points, or 0.43% at 15,074.59 after touching a high of 15,218.65 and a low of 14,864.23. The broad-based NSE Nifty gained 33.70 points, or 0.76% at 4,471.35 after hitting a high of 4,510.80 and a low of 4,398.90.



Major gainers in the 30-share index were Tata Motors (6.81%), Mahindra & Mahindra (3.55%), Hindalco Industries (3.38%), Maruti Suzuki India (3.23%), Bharti Airtel (2.23%), and Tata Power Company (1.81%).

On the other hand, Jaiprakash Associates (2.64%), Housing Development Finance Corporation (1.11%), NTPC (0.88%), Oil & Natural Gas Corporation (0.70%), Wipro (0.64%), and ICICI Bank (0.38%) were the major losers in the Sensex.

Overall market breadth was mixed. Out of the total 2,733 stocks traded at BSE, 1,356 advanced, 1,282 declined while 95 remained unchanged.

Shares of Indian drug firms that make the generic version of Roche`s Tamiflu, used to treat H1N1 flu, rose 5-19% on Tuesday as the death toll from the pandemic in the country rose to eight.

The H1N1 virus, commonly known as swine flu, emerged in April in the United States and Mexico, and has spread globally.



Indices Trend
Sensex Nifty
Period Value % Change Value % Change
1 Week 15,924.23 (5.34) 4,711.40 (5.10)
1 Month 13,504.22 11.63 4,003.90 11.67
3 Months 12,158.03 23.99 3,681.10 21.47
6 Months 9,618.54 56.72 2,925.70 52.83
1 Year 14,724.18 2.38 4,430.70 0.92

Back from RAKHI vacation .. fighting with cough

A vacation is now over, and i am back in Mumbai ( gisipiti life, no sports :-(
still remember this vacation, some good things happened and some bad things also happened ( as always with me )
the good thing is "Bhamri got visa to UK , and he will go London now, lucky man, but interesting thing is that he don't know English, but he understand what other person want to say, but he has problem with speaking, but over the time,he will learn, after all santokpura na loko ma ek anokhuj junoon hoy che...

the second good thing happened is " maulik ( manya varo ) went to london, and i think he has already settled there, and he will help bhamri to settle there... great man

every one is going abroad, everyone was asking me " don't you want to abroad " and i as usual said them " i have 2 years contract with the company, so i cant leave it ".

journey to home:

took a train dehradun express from bandra station 11:35 PM, ( saved money by taking BEST bus than taking auto from kurla.... wah..!!! ) and reached vadodara at around 7 pm. from baroda i took a bus to borsad, and then took auto to santokpura ( no attractive girl found in whole journey ,,, how sad ... )

HAPPY RAKSHABANDHAN

whent home, taked with mom, mom said me about all the things ( fight between two families ) and i said i don't want to listen all this things coz when i come home she always discuss only this things. but then she started crying and so i talked with her for few moments and then dad came.

dad told me to go and meet daji coz he was not well. i went to jayeshbhai's home and talked with daji, motiben and all and came back home. furniture work at home was over and now my home looked like a home... hashhh... then motiben and kiranben and jetal came home, tied me rakhi. Haven't got rakhi of nirali yet..... and no hope of her rakhi also, she messed everything up... totally


now next day, bhamri took me to anand to take visa parcel, she got visa, and we decided to watch " LUCK " movie. we watched it and that is where my fever was started. AC in theater was full and i was shivering with cold ( despite of that i drank pepsi and watched whole movie. In evening went to petlad with mom at saibaba mandir, and i decided to take medicine from SONI's hospital. Took medicine and went to mama's home.

Thermax -- Dissappointing q1 result

Thermax Limited has announced the unaudited financial results for the quarter ended June 30th 2009.

It has posted a net profit of INR 464.901 million for the quarter ended June 30th 2009 as compared to INR 637.091 million for the quarter ended June 30th 2008. Total income has decreased from INR 7271.543 million for the quarter ended June 30th 2008 to INR 5478.852 million for the quarter ended June 30th 2009.


Thermax’ Q1FY2010 results have been disappointing on all fronts with its both revenue and profits sharply lower than expected.

The net income from its operations declined 25% year-on-year (y-o-y) to Rs537.6 crore during the quarter. Both the energy and the environment division have reported a decline in their revenues: a drop of 23.3% and 29.9% respectively.

On the operating profitability front, the operating profit of declined by 24.4% to Rs68.9 crore, translating into an operating profit margin of 12.8% (up ten basis points y-o-y). The profit before interest and tax (PBIT) margin of the energy division dipped 150 basis points to 12.4%.

The other income remained more or less flat (a growth of 1%) at Rs10.3 crore. The interest cost increased by 80.2% while the depreciation charge rose by 36.4% to Rs9.5 crore. Consequently, the net profit declined by 27% to Rs46.5 crore during the quarter.

The consolidated order book of the company increased to Rs3,426 crore in Q1FY2010 from Rs3,078 crore at the end of Q4FY2009.

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ABOUT
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Thermax Limited is a global solution provider in energy and environment engineering.

It offers products and services in heating, cooling, waste heat recovery, captive power, water treatment and recycling, waste management and performance chemicals.

The Company operates in two business segments: energy and environment.

The products covered under the energy segment include
boilers and heaters,
absorption chillers/heat pumps and power plants.

The products covered under the environment segment include

air pollution control equipments/ systems,
water and waste recycle plants,
ion exchange resins and performance chemicals.

The Company’s subsidiaries include

Thermax Sustainable Energy Solutions Ltd.,
Thermax Engineering Construction Co. Ltd. (TECC),
Thermax Instrumentation Ltd.,
Thermax Europe Ltd. and
Thermax International Ltd.

TECC undertakes and executes engineering construction projects mainly for the boiler and heater (B&H) business unit of the Company.

Mundra Port - ADANI group

Mundra Port and Special Economic Zone Limited (MPSEZ) is an India-based company.

The Company is primarily engaged in the business of developing, operating and maintaining the Mundra Port and the related infrastructure.

Mundra Port with a depth of 17.5 meters offers the deepest waters on the Indian coast.

The Port has eight multi-purpose and four container berths,

an all-weather multi-purpose terminal,
an information technology (IT) based Integrated Port Management System (IPMS),
SAP and services,
which include Customs,
Business Infrastructure and Safety Systems.

The Company’s subsidiaries include

MPSEZ Utilities Private Limited,
Rajasthan SEZ Private Limited and
Adani Logistics Limited.

In July 2008, the Company announced the merger of its wholly owned subsidiary, Inland Conware Pvt. Ltd., with Adani Logistics Ltd (ALL) and Inland Conware Ludhiana Pvt. Ltd.

'BHEL to announce its biggest order ever'

state owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) has posted a jump of over 22% in its net profit this year. BHEL chairman

K Ravi Kumar, Chairman and Managing Director, BHEL
and managing director K Ravi Kumar told ET that the company is now looking forward to soon announce its biggest order ever for six major power plants with a capacity to generate 600 mw each.

Your net profit has been below market expectations, what has caused such subdued numbers?
There is an inventory of about nine months. So whatever we re purchasing of up to August we are using up to May. From June onwards it will improve and secondly, there is some finished assemblies we are sending to sites. So, even though there is sales growth but not much value addition. But numbers are in line with what we have told. During this year we ll do a 20-25% sales growth and 25-30% growth in profit. I am quite confident we ll exceed sales target this year and our profits will rise more than 30%.

What is the order book looking like? Has there been a slowdown in the order inflow at all?
Infact, it has increased. Our guidance initially for the year was Rs 50,000 crore. But it must be more than Rs 50,000 crore. It may be coming to Rs 55,000 crore during the financial year.

So you re increasing your guidance there but can you give us a break up from where the orders are coming?
This year in our first quarter, we ve booked orders from private sector. 100% orders have been booked from the private sector. I think the government orders will come in the second quarter and we are quite confident that we ll be able to reach 55000 crore order booking in the financial year.

Could you explain why the government's orders have not come at all?
There were some during elections. Some tenders could not be floated after the code of conduct was lifted. A lot of orders will come in second quarter. We are quite confident the ratio will tilt towards the government sector in third and fourth quarter.

McNally Bharat wins order worth Rs 4.14 bn

MUMBAI: McNally Bharat Engineering Company Ltd said on Friday it has received an order worth 4.14 billion rupees to design, supply and erect a plant for the power project of Ideal Energy Projects Ltd in Nagpur.


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ABOUT McNALLY BHARAT ENGINEERING
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McNally Bharat Engineering Company Ltd. (MBE) is an India-based company engaged in providing turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply. IT has constructed over 250 plants on turnkey basis by MBE. The Company operates in segments, which include projects division and products division. The turnkey construction activity of the Company is managed by its projects division. MBE also manufactures a range of equipment, which is undertaken at two factories under the products division. MBE products division manufactures a range of products catering to a range of applications at two plants. One plant is located at Kumardhubi where large and heavy equipment are manufactured and the other at Bangalore from where process equipment are manufactured. It has two subsidiary companies: EWB Kornyezetvedelmi Kft. And EWB-MBE International

Suzlon's poor Q1 show takes toll on shares

3 Aug 2009, 1248 hrs IST, ET Bureau
Print EMail Share Save Comment Text:
MUMBAI: Shares of Suzlon Energy were under severe pressure after the wind turbine maker nosedived into losses in the first quarter of

FY2009-10.

The company reported a net loss of Rs 452.67 crore for the first quarter ended June 30 due to lower sales volumes as compared to a profit Rs 9.3 crore in the same period last
fiscal.

Total income stood at Rs 4,171.35 crore during the reporting quarter, against Rs 3,126.97 crore in the same quarter a year-ago.

On a stand-alone basis, the company posted a net loss of Rs 160.47 crore for the quarter ended June 30. It had a net profit of Rs 88.04 crore in the same period last year.

At 12:40 pm, the stock was trading at Rs 94.40, down 5.36 per cent easing its losses from a low of Rs 90.75 in early trade.

L&T won 1 billion contract of ONGC

Engineering and construction firm Larsen & Toubro said on Monday it has won two contracts from state-run Oil & Natural Gas Corp totalling

over 53 billion rupees ($1.1 billion).

The company said the projects will be completed within 33 months.

NALCO faced huge loss due to global slowdown

BHUBANESWAR: National Aluminium Company Limited (NALCO), the Navratna PSU and India’s leading producer and exporter of alumina and aluminium, has

the first pinch of global slowdown with its profit dipping to Rs 127 crore in the 1st quarter ended June 30 from Rs 525 crore during the same period in the last fiscal registering a negative growth of 76%. Due to low prices, the turnover for the quarter has also reduced considerably.

This is in spite of the fact that the blue-chip company registered an impressive 20.46% increase in aluminium production to 104,776 tons from 86,979 tons in the. “The slowdown has definitely impacted the profit bottom lines of the Company despite impressive increase in production and sales. The prices have began bouncing since July and consequently, we hope to fare better in the next quarter”, Nalco director [finance], B L Bagra told “The ET” on Monday.

Alumina production has increased to 400,800 tons from 392,900 tons in corresponding quarter last year. Power generation also increased by 14.35% to 160 million units [MU] from 1400 MU.

On the sales front, Nalco also achieved total sale of 93,104 MT of aluminium in the 1st quarter, which was 84,103 MT in the corresponding period of previous year. Despite prevailing sluggish market conditions, Nalco has been able to increase its export of aluminium to 27,995 tons from 12,623 tons in the corresponding quarter.

Meanwhile, as part of growth strategy, Nalco has plans to set up two Greenfield projects in India, which include an Rs.16500 crore Smelter and Power Complex at Jharsuguda in Orissa and a Rs.6000 crore Mines and Refinery Complex in Andhra Pradesh.

Today's market

MUMBAI: Indian equities ended sharply higher Monday as investors took long positions across the board following positive opening of European markets. Rally was led by gains in auto, realty and metals space. ( Watch )

National Stock Exchange’s Nifty ended at 4721.55, up 85.10 points or 1.84 per cent after hitting a new 52-week high of 4723.30.

Bombay Stock Exchange’s Sensex closed at 15,962.93, up 292.62 points or 1.87 per cent. The index hit a 52-week high of 15963.36.

BSE Midcap Index surged 2.38 per cent and BSE Smallcap Index gained 1.74 per cent.

Biggest Nifty gainers were Hindalco Industries (8.42%), Mahindra & Mahindra (8.01%), HCL Technologies (6.1%), Reliance Communications (5.86%) and BHEL (5.46%).

Suzlon Energy (-5.56%), Hindustan Unilever (-2.69%), Tata Communications (-2.27%), GAIL (-2.24%) and HDFC (-2.17%) were the losers.

Market breadth was positive on the BSE with 1751 advances and 961 declines.

Rolta india - q1 net zzooooooms

Rolta India, specialized technology solution and service provider today announced a rise of 50% in the consolidated net profit for the quarter ended June 2009. During the quarter, the company reported a consolidated profit of Rs 762.30 million as against profit of Rs 508.30 million for the quarter ended June 30, 2008.

In the same period, consolidated revenues of the company stood at Rs 3,327 million, a growth of 3.60% over the prior year period.

The board of directors of the company has recommended a dividend of Rs 3 a share for FY`09.

Commenting on the results, K.K chairman and managing director said, `` We continue to strengthen our businesses and move up the value chain, thereby delivering enhanced value to our customers worldwide. This approach has become all the more relevant in these difficult times and we believe that as the economic outlook turns positive, we will be even better placed to deliver value to all our stakeholders.``

Shares of the company declined Rs 2.7, or 1.72%, to trade at Rs 153.90. The total volume of shares traded was 2,244,981 at the BSE (3.14 p.m., Monday).

BEML eyes huge profilt from Metro rail projets.

BHARAT EARTH MOVERS LIMITED


Monday, 13 Jul 2009
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BEML eyeing INR 25,000 crore biz from metro rail projects
Monday, 13 Jul 2009

Mr VRS Natarajan CMD of BEML Limited said that maker of metro rail coaches and mining equipment smells a huge business opportunity of INR 25,000 crore in the metro rail projects that are coming up across the country.

BEML has supplied coaches worth INR 1,400 crore for the Delhi metro project and has won the INR 1,672-crore Bangalore contract. Its sights are on Chennai, Pune and Hyderabad.

Mr Natarajan said “Over a dozen cities could be floating metro rail projects in the next decade. We hope to capture at least one-fourth of the INR 100,000 crore business in metro projects.”


Mr Natarajan said “The company plans to invest INR 410 crore in existing facilities including INR 260 crore at the new Palakkad unit in Kerala, this fiscal. Last fiscal, it spent INR 100 crore. We expect the first product to roll out from Palakkad by March 2010.”

He said “We have signed an MoA with Alstom of France to make light rail, medium and high speed rail coaches. Alstom will exclusively source components and bogies made by BEML using this technology for its global uses. It is looking at India as a low cost manufacturing base.”

He added that “BEML plans to supply 90 tonne to 100 tonne stainless steel wagons for the high speed freight corridors proposed on Mumbai to Delhi and Howrah to Ghaziabad sectors. It has signed a MoU with SAIL for sourcing steel for the wagons.”

For the current fiscal, BEML is looking at a turnover of INR 4,000 crore compared with INR 2,797 crore for fiscal 2009, driven by all the 3 divisions rail, mining and defense. Order book stands at over INR 5,000 crore.


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ABOUT BEML
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Bharat Earth Movers Limited (BEML) is an Indian Public Sector Undertaking, with headquarters in Bangalore. It manufactures a variety of heavy equipment, such as that used for earth moving, transportation and mining.

BEML incorporated in May 1964, and commenced operations on January 1, 1965. It was wholly owned and operated by India's Ministry of Defense until 1992, when the government divested 25% of its holdings in the company. BEML is Asia's second-largest manufacturer of earth moving equipment, and it controls 70% of India's market in that sector. Its stock trades on the National Stock Exchange of India under the symbol "BEML", and on the Bombay Stock Exchange under the code "500048". The company went for Follow On Public offer (FPO) and fixed the price band for its FPO between Rs.1,020 and Rs.1,090.

BEML has manufacturing plants in Kolar Gold Fields, Bangalore and Mysore. It has numerous regional offices throughout the country. KGF unit is the main unit accounting for the manufacture and assembly of a wide array of earth-moving equipment such as Bulldozers and Excavators. Railcoaches are made in the Bangalore complex and the Mysore facility makes Dump Trucks and engines of various capacity .

ALSTOM got 4 billion RS contract from BHEL

Alstom Projects (India) today announced that it has been awarded a contract worth Rs 3.73 billion by Bharat Heavy Electricals (BHEL).

The said order is for supply of boiler components for 2 X 800 MW supercritical coal fired power plant at Krishnapatnam, Andra Pradesh.

The company is a major player in the energy, transport infrastructure business supplying critical electrical, industrial equipment including boilers and turbines and pollution control equipment for power plants.

Shares of the company gained Rs 8.4, or 1.72%, to trade at Rs 498. The total volume of shares traded was 72,805 at the BSE (12.06 p.m., Monday).


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ABOUT ALSTOM
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Alstom has supplied more than 25% of the world's installed power generation capacity. In equipment and services for the rail transport sector, Alstom is the pioneer and undisputed leader in very high-speed trains, and is developing state-of-the-art solutions for urban transport systems. We set the benchmark for innovative, environmentally friendly technologies in the world of power and rail transport infrastructure. Our engineers built the fastest train and the highest capacity automated metro in the world. We provide turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, gas and coal.

Our Group employs around 80,000 people in 70 countries, serving customers worldwide.

Alfa Laval Q1 net at Rs 30 cr

Alfa Laval (India) Ltd, manufacturing plants and equipment for food, chemical, and pharmaceutical industries and the Indian arm of the Swedish-based Alfa Laval Group, posted quarterly net profit of Rs 30 crore for the quarter ended June, an increase of 14 per cent over the corresponding period of the previous year.

The company clocked a turnover of Rs 208 crore, a growth of 7 per cent in the quarter as compared to Rs 194 crore in the corresponding period last year.

“This better performance was largely driven by the company’s concentrated focus on the profitability in the backdrop of the economic slowdown across all sectors of business,” Nish Patel, managing director, Alfa Laval, said.

The company’s total sales turnover for the half year ended in June 30, 2009 was Rs 406 crore, registering a double-digit growth over the corresponding period of the previous year. The net profit for the half-year ended June 30 increased by over 11 per cent to Rs 54 crore as compared to the net profit of Rs 49 crore for the corresponding period of the previous year. “This was mainly on account of a good growth in the process technology division,” Patel said.

In the last six months, 75 and 25 per cent of the total Rs 406 income came from domestic sales and exports respectively.

The process technology division manufactures centrifugal separators, decanters, spiral, brazed and plate heat exchangers, welded heart exchangers, dryers and evaporators which are used in refineries, petrochemicals, plastics and polymers, steel, metal, pulp and paper.
Patel said the potential of food industry and process industry shored up the company’s business during the first half of the year. While the food industry was expected to increase company’s business, there would be a rise in inquiries for ethanol plants both in the domestic and export market, he added.

“The company is doing well in vegetable oil refining business,” Patel said, adding that the company took a hit in brewery business with a big company defaulting the order for three years.

He said the company’s fruit processing business would grow with over 10 food mega parks coming up in the country. Each fruit processing plant with 50 – 100 ton capacity a day costs Rs 15 – 30 crore. Last year, the company completed three projects worth Rs 65 crore in this segment.

Patel said the company on hand had had orders to the tune of Rs 635 crore at the end of June 2009 which was 25 per cent higher than last year. And 50 per cent of this business would be in food processing segment. Only one book order worth Rs 10 crore in starch industry was cancelled, he added.

This year the company, employing 1300 staff, was investing Rs 27 crore in its plant and machinery up gradation, Patel said.

The company clocked total revenues of Rs 811 crore in the calendar year 2008.The net profit after tax for the year was Rs 91 crore.

ABB: Q2 profit down 36 pc to Rs 83 cr

Bangalore , July 31 Power and automation technologies firm ABB Ltd registered 36.5 per cent decline in net profit to Rs 83.60 crore for second quarter-ended June 30.
Total income of the company also dropped to Rs 1,525.87 crore during the April- June period of current fiscal from Rs 1,637.62 crore of the same period last year.

The company booked orders worth Rs 4,414.9 crore during the half-year ended June 2009, 10 per cent lower compared to first half of 2008, a company release said here today.



The second quarter saw an order intake of Rs 2,111.6 crore four per cent lower than second quarter of 2008.

During the quarter the company received significant orders for electrical solutions to enhance reliability in power generation, transmission and distribution.

The strong order intake during the first two quarters of this year has helped strengthen the order backlog from Rs 6776.9 crore at the end of first half of 2008 to Rs 7,622.3 crore at the end of June 2009 registering a 13 per cent increase year-on-year.

"The economy is entering the recovery phase now coupled with a stable government in place. We remain optimistic about the long term business prospects for ABB. However, it still remains to see how long before the stable phase of growth would return", said Biplab Majumder, Vice Chairman and MD, ABB.

ISPAT - Lakshmi Mittal's creation

Ispat Industries Ltd operates in the iron and steel business.


Ispat Industries Limited (IIL) is one of the leading integrated steel makers and the largest private sector producer of hot rolled coils in India. Set up as Nippon Denro Ispat Limited in May 1984 by founding chairman Mr M L Mittal, IIL has steadily grown into a Rs 9,400-crore company, assuming its position as flagship of the reputed Ispat Group. A corporate powerhouse with operations in iron, steel, mining, energy and infrastructure, the Group today figures among the top 20 business houses in the country.

Headquartered at Mumbai, IIL employs a total of 3000 people and is the leader in the national speciality steel market. The company's core competency is the production of high quality steel, for which it employs cutting edge technologies and stringent quality standards. It produces world-class sponge iron, galvanized sheets and cold rolled coils, in addition to hot rolled coils, through its two state-of-the art integrated steel plants, located at Dolvi and Kalmeshwar in the state of Maharashtra.

The sprawling 1,200 acres Dolvi complex houses the 3 million tonne per annum hot rolled coils plant, that combines the latest technologies - the Conarc process for steel making and the compact strip process (CSP) - introduced for the first time in Asia.

The complex also has a 1.6 million tonne per annum sponge iron (DRI) plant, which was commissioned in 1994 as the world's largest and most efficient gas-based single mega module plant. Moreover, the Dolvi complex is home to a 2 million tonne blast furnace and also boasts a mechanised multi-functional jetty situated nearby, that facilitates the automation of raw material handling. A new 2.24 million tonnes per annum sinter plant, a 1260 tonnes per day oxygen and a new electric arc furnace have also been commissioned at IIL Dolvi.

Ispat is the only steel maker in India and among a few in the world to have total flexibility in choice of steel making route, be it the conventional blast furnace route or the electric arc furnace route. Its dual technology allows Ispat the freedom to choose its raw material feed, be it pig iron, sponge iron, iron ore, scrap or any combination of various feeds. It also has total flexibility in choosing its energy source, be it electricity, coal or gas.

The Kalmeshwar complex houses Ispat's 0.4 million tonnes cold rolling complex, which also includes the galvanized plain/ galvanized corrugated (GP/GC) lines and India's first colour coating mill.

Technology and innovation have always been the cornerstones of IIL's quest for excellence and these state-of-the-art plants facilitate the company's mission to attain and sustain market leadership, through technological and product superiority.

The company's strengths lie in its integrated process management, knowledge management and control systems. And its seamless supply chain management systems further the efficient use of raw materials, while its staff of highly skilled engineers, technicians and managers with specialised domain knowledge, ensure the choice of the relevant technology and the ability to produce international quality products at a competitive price.

In line with its vision for the future, IIL is expanding its HRC capacity to 3.6 million. Moreover, it aims to complete its vertical integration process, increase the proportion of high-grade and value-added steel products in its product mix and leverage the advantage the modern design and the size of the facilities offers.

With investments of over US $2 billion, IIL is the seventh largest Indian private sector company in terms of fixed assets. It aims to consolidate its market leadership in the national specialty steel market by capitalising on the proximity of its manufacturing facilities to major consumers of flat steel products in Maharashtra, while increasing its presence in international markets by using its convenient port location.

In the short span of time since its inception, Ispat Industries has steadily raised the bar - in terms of its relentless pursuit of technological advancement, unwavering focus on innovation, strident emphasis on quality products and its constant initiatives aimed at ensuring customer satisfaction. As it rapidly forges ahead on all these fronts, IIL has successfully reinforced its position as market leader, while simultaneously making technological breakthroughs and setting even higher standards for itself.

GAIL searching for LNG worldwide to meet domestic demand

GAS AUTHORITY OF INDIA LIMITED

NEW DELHI:

State gas utility GAIL India Ltd is scouting for liquefied natural gas (LNG) from overseas suppliers to meet growing domestic fuel

demand, company's new head B C Tripathi said on Saturday.

GAIL, which holds 12.5 per cent stake in nation's largest LNG importer Petronet LNG Ltd, is looking at independently sourcing the liquefied gas in ships even as it is talking to new domestic gas producers like GSPC for sourcing the fuel.

"We are very aggressively looking at gas sourcing, be it from new domestic fields or LNG," said Tripathi, who took over as the Chairman and Managing Director of GAIL today.

54-year-old Tripathi, who was previously Director (Marketing), took office upon retirement of U D Choubey.

"Sourcing and securing gas supplies is one of my top most priorities," he said.

GAIL is looking at importing five million tonnes a year of LNG on long-term contract as well as shipping one spot cargo of LNG a month to meet the rising demand for fuel at industries particularly power plants.

Tripathi said he would also court new domestic gas producers like Gujarat State Petroleum Corp (GSPC) to buy gas from their fields.

His other priorities included completion of the Rs 28,000 crore worth of pipeline projects in time and within the approved cost as also expanding GAIL's presence in CNG and piped gas retailing in cities.

Dishman pharma : profit rises 41% - 39 cr

AHMEDABAD:

Growth in contract research and manufacturing services (CRAMS) business, saw the Ahmedabad-based Dishman Pharmaceuticals and Chemicals post a 41.4% jump in its consolidated net profit for the first quarter ended June 30, 2009.

Talking to ET NOW, Dishman chairman JR Vyas said: “Even though the topline was flat, the company’s bottomline surged due to good returns from the CRAMS business.” The company had focused on the potential of the CRAMS business, and in June, created a new position to head it. Nicholas Green, who was earlier the president of US-based Codexis Pharmaceuticals, was appointed president of the CRAMS business.

The Rs 1,000-crore company earned 50% of its revenue from Europe during the first quarter of 2009 and 40% from the US and Japan (20% each). While the consolidated profit after tax rose to Rs 39.2 crore from Rs 27.7 crore, the company’s turnover dropped 3% to Rs 227.7 crore from Rs 235.9 crore in the previous year. Dishman’s Switzerland-based subsidiary Carbogen Amcis saw sales surging to Rs 114.9 crore for the first quarter ended on June 30, 2009, compared with Rs 93.7 crore for the same period in the previous year.

The EBITDA stood at Rs 33.1 crore for the first quarter against Rs 12.4 crore last year. Mr Vyas said, Carbogen’s performance contributed to its profit. Foreign exchange fluctuations saw the company provide Rs 31 crore towards forex losses in the second quarter of 2008-09.

However, in the subsequent quarter, the company managed a forex gain of Rs 4.9 crore. The current quarter’s profits include forex gain of Rs 15.1 crore, compared to the previous year’s forex losses Rs 16.45 crore.

On the company’s recent foray into the generics contract research manufacturing and services (generic CRAMS), Mr Vyas said there was no pricing pressure, as his company’s majority revenue did not come from the generics contract business. Dishman does contract manufacturing and contract research for innovator pharma companies. Mr Vyas said, usually pricing pressures were felt by companies who are into generic formulation.

In the previous financial year, Dishman’s consolidated turnover stood Rs 1,062.36 crore, registering a growth of 32%. The pharma major has 16 subsidiaries, three joint ventures and one associate company.

On Friday, Dishman’s share opened at Rs 194.50, scaled up to Rs 200.80, before closing at Rs 184.20, down 1.8% on BSE.

Fall in metal prices drags Hindalco Q1 net down by 31%

MUMBAI: Hindalco Industries, the Aditya Birla group flagship, on Thursday reported a 31% drop in its first quarter net profit, an improvement

over market expectations, as base metal prices fell due to the slowdown.

The Mumbai-based company, which is also India’s largest aluminium producer, said its net profit in the April-June period dipped to Rs 480.56 crore, compared with Rs 696.76 crore in the same period last year. Hindalco’s revenue fell 16% to Rs 3,899.49 crore in the same period.

The company’s performance is much better than what brokerage houses and analysts expected; the street forecast India’s largest metals company to report a net profit of Rs 305 crore, while sales was estimated to be at Rs 3,850 crore.

Prices of base metals including aluminium and copper have fallen sharply from year-ago period, thanks to the recession. On the London Metal Exchange, aluminium is down to $1,485 per tonne, compared with $2,940, a year ago. Copper fell to $4,716 per tonne, against $8,379.

“Despite the fall in metal prices and the impact from recession, Hindalco’s performance has been better than the industry average,” managing director Debu Bhattacharya told ET. “The drop (in profit) must be viewed in the context of the global economic environment, relative to metal companies.”

Though the prices are lower, Hindalco has shown volume increase, indicating recovery in demand. While production of aluminium rose 9%, the rupee depreciated close to 10%. Higher volumes and a weak rupee typically mitigate the impact of lower international prices on the operating profit.

Hindalco’s operating profit for the June 2009 quarter is four-fifths of that earned in the same quarter last year. Also, operating margin contracted by 100 basis points. Hindalco’s operating margin in copper and aluminium rose; the company’s earning before interest and tax margin for aluminium and copper business stood at 32% and 6%, respectively.

Referring to the quarterly results, Mr Bhattacharya said the earnings can’t be compared with the corresponding quarter last year due to early adoption of the AS-30 accounting standards.

AS 30 was issued by the Council of the Institute of Chartered Accountants of India and came into effect from April 1, 2009. The standard — which typically recognises and measures financial assets, financial liabilities and contracts to buy or sell non-financial items — becomes mandatory only after April 1, 2011.

Separately, Hindalco said its board approved a proposal to raise funds up to $500 million (around Rs 2,400 crore) through Qualified Institution Placement (QIP) issue or a GDR share issue.

My Novel Reading

Right now i am reading JEFFERY ARCHER'S "FALSE IMPRESSION".
it looks very interesting till 3'rd chapter ( i just read this much.. bought today only...GAJJU told me that its good one )

one of the coolest thing about archer is the way he represent his story,,,, right from the start, he just break the ice on u, and u can not resist yourself by reading further.... god knows who gave this guy so much talent and thinking ability to think so much...

my other reading is SACHIN GARG's " A SUNNY SHADY LIFE - AN ICY HOT LOVE ".... but if truly speaking,,,, i don't find this book too much interesting,,, interesting i found that its a bit boring.... i just feel that he want to give too much gyan to us... and just keeps on talking unnecessary things... so boring man....