Re: {LONGTERMINVESTORS} News & Misc. items - Thread
RAJESH DESAI
A GDP growth still on the upside
JP Associates:
Bank of America Merrill Lynch maintains 'buy' on JP Associates, but has marginally upped the price target from Rs 112 to Rs 115. The brokerage says a jump in free cash flow and deleverage over FY12-15 remain the key catalysts.
BofA-ML advises 'buy' on JP Associates as its trades at 21 per cent discount to NAV estimates.
SpiceJet Ltd:
Kotak Securities maintains 'buy' on SpiceJet but has upped the price target from Rs 45 to Rs 50. Kotak remains bullish on the sector as pricing discipline is being maintained in the market.
The brokerage says any reduction on the cost front led by declining fuel prices and/or appreciating rupee could bring a string of profitable quarters leading to sustained outperformance.
--
CA. Rajesh Desai
RAJESH DESAI
16 November 2012
http://r.smartbrief.com/resp/dZBdCklQsGCfdNfLCidmwxCicNdvIG
TODAY'S HEADLINES
TOP STORIES
* BP admits criminal liability for Gulf spill
* Japan is close to returning to recession
* EU officials proceed with transaction tax
* MF Global collapse was preventable, House report says
READER SURVEY
* Do you expect U.S. lawmakers to avert the "fiscal cliff" before the global economy suffers deleterious effects?
MARKET ACTIVITY
* Asian-Pacific markets lag behind Japan's strong advance
* Appetite for European bank debt returns
* Goldman is on lookout for Asian bond bubble
ECONOMICS
* Bernanke: Tight lending standards threaten housing market
* Sandy sends U.S. jobless claims soaring
* Chrysler expands U.S. production to keep up with demand
* Eurozone falls back into recession
* Analysis: Euro's fate might be in France's hands
* Advisers must tailor communication methods
GEOPOLITICAL/REGULATORY
* FDIC chairman and vice chairman gain confirmation
* France seeks separate units for banks' trading
* Canadian agency duels with RBS in Libor inquiry
FINANCIAL PRODUCTS
* First Trust readies commodity-futures ETF
ETHICS
* Wal-Mart widens bribery investigation
Follow the link below to read quick summaries of these stories and others.
http://r.smartbrief.com/resp/dZBdCklQsGCfdNfLCidmwxCicNdvIG
--
CA. Rajesh Desai
Rajesh Desai
Sembawang Engineers and Constructors, (Sembawang) a Punj Lloyd Group company has won Project in the Hong Kong to construct MTR Corporation's Shatin to Central Link Diamond Hill Station. The project worth over $260 million (Rs 1,168 crore) will be executed by Sembawang along with consortium partner, Leader Civil Engineering Corporation .The station will provide an important interchange between the new Shatin to Central Link and the existing Diamond Hill Station servicing the Kwun Tong Line.
The scope of work includes the relocation of heritage structures and archeological diggings required to facilitate the site, construction of a 250 metre long by 30 metre deep underground station and connecting adits to the existing station, together with coordination with interfacing railway operating systems and specialist contractors. Modifications to the adjacent existing live station will also be required to aid the flow of passengers between the Kwun Tong Line and the Shatin to central Link. Strict environmental controls and attention to public relations will also be an important aspect of the project as the station is to be constructed in a heavily populated older area of Eastern Kowloon.
Work on the Diamond Hill Station would commence in the first quarter of 2013, in line with the commissioning of the first phase of the Shatin to central Link. That Link will eventually provide a direct connection between the stations on the border with mainland China/Guangzhou Province and Admiralty Station, located in the heart of the central Business District of Island which, in turn, will provide easy access to other existing rail networks, including the Tsuen Wan Line, the Island Line and the future South Island Line (East). Construction of the Shatin to Central Link is part of Hong Kong's strategic infrastructure plan to develop a railway network to meet its fast-growing future transport needs.
--
CA. Rajesh Desai
Rajesh Desai
he Gujarat based Apollo Group, a market leader in road construction equipment business in India, has executed binding agreements pursuant to which the Ammann Group of Switzerland intends to hold a controlling stake of 70% in the consolidated road construction equipment business of the Apollo Group, valued at approximately Rs. 400 crores. The Ammann Group has decided to invest in the core business of the Apollo Group comprising asphalt plants, pavers, curb pavers, bitumen sprayers, compaction equipment, etc. The joint venture is expected to have a more robust portfolio of products and customer solutions, significant operational synergies, global market reach and cash flow generation to support growth.
Subject to the requisite approval of shareholders of GAIL and other approvals as may be required, GAIL and its wholly owned subsidiary, Apollo Earthmovers (AEML) will transfer their respective identified businesses, being the entire product portfolio of asphalt plants and the paver business to Apollo Construction Equipment Limited (ACEL) on slump sale basis for an aggregate consideration of approximately Rs. 280 crores, which will be discharged by payment on Closing as per the definitive agreements between the joint venture parties.
Presently, GAIL and AEML hold 40.6% of ACEL. AEML plans to acquire the remaining shares of ACEL from the existing shareholders being directors and promoter controlled entities prior to Closing. Consequent to above acquisition by AEML, ACEL will become a wholly owned subsidiary of AEML. Thereafter, the Ammann group will subscribe to fresh equity shares of ACEL such that the shareholding of Ammann in ACEL, becoming 'Ammann Apollo India , will be 70% and balance 30% shares of ACEL shall be held by AEML. The current management team of the Apollo group will continue to manage the joint venture and will be complemented by Animann.
The transfer of business and formation of joint venture has been unanimously approved by the Board of Directors of GAIL, AEML and ACEL in their respective meetings held on 19 December 2012. It is expected that the joint venture closing would be achieved by mid April 2013, after obtaining and subject to all necessary corporate, legal and regulatory approvals.
GAIL shareholders would benefit by value accretion owing to 30% shareholding in the ACEL, the joint venture company through AEML - the wholly owned subsidiary of GAIL.
--
CA. Rajesh Desai
Rajesh Desai
|
--
CA. Rajesh Desai
Rajesh Desai
20 December 2012
http://r.smartbrief.com/resp/edchCklQsGCfmmlwCidmwxCicNoYoo
TODAY'S HEADLINES
TOP STORIES
* UBS e-mails shed light on Libor issues
* Obama threatens to veto Boehner's "fiscal cliff" plan
* ECB again accepts Greek debt as collateral
* Knight reportedly opts for Getco's bid
* Memo: Libor fraud might have cost Fannie and Freddie $3B
READER SURVEY
* Do annual market forecasts commonly circulated by Wall Street's sell side have value to professional investors?
MARKET ACTIVITY
* Most Asian-Pacific markets rise after BoJ boosts stimulus
ECONOMICS
* Bank of Japan boosts asset-purchase program again
* Fed will give up collective opinion on economic forecast
* U.S. moves toward end as GM shareholder
* Confidence continues to improve at Germany companies
* Analysis: Free trade is rich nations' gift to the world
* Most investors have multiple advisers, analysis shows
GEOPOLITICAL/REGULATORY
* European Commission unveils AIFMD, adopts OTC derivatives rules
* Court sides with Milan in derivatives case against 4 banks
* Europe contemplates shorter settlement cycles
FINANCIAL PRODUCTS
* Trading begins for 3 FlexShares dividend-focused ETFs
ETHICS
* IMF report criticized China because of U.S. influence, auditor says
Follow the link below to read quick summaries of these stories and others.
--
CA. Rajesh Desai
Rajesh Desai
Shiv-Vani Oil & Gas Exploration Services has commenced operations at Kakinada in Andhra Pradesh on the ONGC contract and it is going on smoothly, allaying misconceptions in certain quarters that ONGC had banned the company. The company has been awarded a contract by ONGC to install and operate one compressor along with one standby compressor at Kakinada which was expected to mobilize within 45 days from the date of order or before September 26, 2012. Shiv-Vani mobilized two compressors with engines on allocated site at Kakinada on time, but could not install it because of the force majeure reasons beyond its control, but no ban whatsoever by ONGC.
Shiv-Vani has clarified to ONGC on all the issues. Thus, the process of banning Shiv-Vani initiated by ONGC on grounds of alleged failure to commence the services in installation of compressors at the Kakinada processing facility has now been called off. ONGC is satisfied with Shiv-Vani’s performance at the site.
Shiv-Vani Oil & Gas Exploration Services, a world leader in upstream supply and support, has been the preferred exploration partner of Oil and Gas majors in India and the Middle East since 1989. Headquartered in New Delhi, India, the company offers a wide spectrum of services in the field of oil and natural gas exploration and production. Shiv-Vani conducts two dimensional (2D) and three dimensional (3D) land seismic and transit zone surveys.
--
CA. Rajesh Desai
Rajesh Desai
Vijaya Bank cuts housing loan rates
Vijaya Bank has reduced rate of interest on housing loans. The bank to increase retail lending and give thrust to home loan portfolio, bank has launched a ‘Summer Bonanza Special Campaign’ running up to June 2013. The rate of interest on home loans has been reduced up to the extent of 75 basis points in certain slabs. The Processing and documentation charges have been fully waived. Maximum repayment period is increased from 25 years to 30 years.
For loan amount less than Rs 75 lakh, rate of interest linked to base rate (floating) is 10.25 per cent per annum and EMI per lakh is Rs 896. For loans Rs 75 lakh and above, rate of interest linked to base rate (floating) is 10.50 per cent per annum and EMI per lakh is Rs 915.--
CA. Rajesh Desai
Rajesh Desai
Alstom T&D India after market hours on Thursday, 2 January 2014 said that it has secured an order worth about Rs 54.40 crore (euro 6.5 million), for a turnkey 220kV Air-Insulated substation (AIS) at Bihta and associated 220/132/33kV bays extensions at various locations for Bihar State Power Transmission Company (BSPTCL) in Bihar.
The state government of Bihar plans to add a number of new 400kV/220 kV voltage level substations at various locations in the state in near future. In this context, the substation at Bihta is important as it is the first in the series in the energy expansion plan of the state. It also aims to strengthen the state's transmission network at 220kV level, Alstom T&D India said in a statement.
Commenting on the contract win, Rathin Basu, Managing Director, Alstom T&D India said, “Alstom T&D India is happy to earn the confidence of BSPTCL to build the T&D infrastructure of the state. Alstom T&D India, with its leading edge technologies and turnkey project expertise, is strongly poised to support the transmission growth plans of Bihar. Alstom T&D India has a wide repertoire of products and solutions for the high voltage and ultra-high voltage electricity transmission".
--
CA. Rajesh Desai