Gloster Jute Godown Mill in Bauria reports fire incident

Gloster has reported an incident of fire at one of its Jute Godown Mill at Bauria in West Bengal on March 29, 2011 causing damage to raw material stock and the godown. The fire came under control in the early morning on March 30, 2011 but fire fighting is under way.
The company has further informed that the operations of mill are not disturbed and work is going on normally. The extent of damage/loss is yet to be ascertained and company has adequate coverage of insurance for the properties/ stock.
Gloster is a professionally managed company engaged in the manufacture of jute and allied products. The company presently has two business units along with one Captive Power Plant (CPP) which is used as standby situated in the district of Howrah.

Titan Industries shine on its retail arm planning to invest Rs 200 crore in next fiscal year

Titan Industries is currently trading at Rs 3,875.50, up by 32.50 points or 0.85% from its previous closing of Rs 3,843.00 on the BSE.

The scrip opened at Rs 3,850.00 and has touched a high and low of Rs 3,953.95 and Rs 3,836.35 respectively. So far 1,06,833 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 4,244.00 on 11-Nov-2010 and a 52 week low of Rs 1,827.25 on 31-Mar-2010.

Last one week high and low of the scrip stood at Rs 3,953.95 and Rs 3,492.00 respectively. The current market cap of the company is Rs 17302.95 crore.

The promoters holding in the company stood at 53.41% while Institutions and Non-Institutions held 19.00% and 27.58% respectively.

The jewellery retail chain arm of Titan Industries - Tanishq, is planning to set up around 15 showrooms in various parts of the country with an investment of Rs 150 - 200 crore in the next fiscal year.

The area of proposed showrooms would range from 3,000 sq ft to 20,000 sq ft, including four to five large showrooms spanning total area of over 8,000 sq ft each. The largest of the upcoming outlets would be a 20,000 sq ft showroom in Mumbai.

The company had recently launched its sixth showroom in Chennai, at Chromepet. With launch of the new showroom in Chennai, Tanishq retail chain presently has 123 exclusive boutiques in 76 cities. The new showroom in Chennai, of 4,000 sq ft, would provide a range of traditional Bengali jewellery, wedding jewellery in plain gold, diamonds, polki and kundan. The new showroom would also provide facilities including Karatmeter, a device to measure the purity of gold, for its customers.

Tanishq is a prominent jewellery brand of India and a division of Titan Industries.  It pioneered the concept of branded jewellery and ornaments in India. Tanishq, India’s largest, most trusted and fastest growing jewellery brand, offers traditional as well as trendy designs in gold, diamond and platinum. 

KEC International soars on bagging new orders worth Rs 801 crore

KEC International is currently trading at Rs 84.80, up by 3.70 points or 4.56% from its previous closing of Rs 81.10 on the BSE.

The scrip opened at Rs 83.00 and has touched a high and low of Rs 86.25 and Rs 80.60 respectively. So far 2,62,242 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 123.40 on 30-Jul-2010 and a 52 week low of Rs 70.30 on 22-Mar-2011.

Last one week high and low of the scrip stood at Rs 86.25 and Rs 74.20 respectively. The current market cap of the company is Rs 2108.12 crore.

The promoters holding in the company stood at 41.65% while Institutions and Non-Institutions held 43.13% and 15.22% respectively.

KEC International, the flagship company of PRG Group has bagged new orders worth aggregating Rs 801 crore in the areas of Transmission (domestic and international) and cables.

In India, the company has secured three orders from Power Grid Corporation of India (PGCIL) aggregating Rs 224 crore and one order from state utility Aptransco worth Rs 84 crore on Turnkey basis. In International markets, the company has bagged order aggregating worth Rs 386 crore from Saudi Arabia, South Africa, United States and Brazil.

The company has won supply orders for extra high voltage power cables, high tension, low tension and telecom cables from various customers worth Rs 107 crore.

KEC is in the business of manufacture of transmission towers and erection and laying of power transmission lines on an EPC basis. It is a global leader in the power transmission engineering, procurement and construction (EPC) business. The company is one of the largest Power Transmission EPC companies in the world.

Smartlink Network makes new high on getting nod to sell its structured cabling business

Smartlink Network Systems is currently trading at Rs 83.75, up by 5.45 points or 6.96% from its previous closing of Rs 78.30 on the BSE.
The scrip opened at Rs 80.30 and has touched a high and low of Rs 93.95 and Rs 76.00 respectively. So far 2294949 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 93.95 on 31-Mar-2011 and a 52 week low of Rs 40.50 on 31-Mar-2010.
Last one week high and low of the scrip stood at Rs 93.95 and Rs 65.00 respectively. The current market cap of the company is Rs 249.94 crore.
The promoters holding in the company stood at 67.33% while Institutions and Non-Institutions held 0.02% and 32.65% respectively. Smartlink Network Systems has received its board’s approval for the sale of the structured cabling business comprising of manufacture, sale and marketing of structured cabling products carried on by it, under the brand name - Diglink - hereinafter referred to as the (Digilink Business) to Schneider Electric India.
The Digilink Business together with its respective assets and liabilities shall be transferred to Schneider, as a going concern on a slump sale basis, on a cash free and debt free basis, for a total consideration of Rs 503 crore.
Smartlink Network is engaged in the business of designing, manufacturing and marketing of advanced networking, broadband, digital, voice and data communications solutions. Company caters the global networking and connectivity needs of digital home consumers, small office professionals, small- to medium-sized businesses and enterprise environments

HDFC Bank rises on expanding its branch network

HDFC Bank is currently trading at Rs 2,360.00, up by 22.15 points or 0.95% from its previous closing of Rs 2,337.85 on the BSE.

The scrip opened at Rs 2,345.00 and has touched a high and low of Rs 2,370.00 and Rs 2,345.00 respectively. So far 10,535 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 2,518.00 on 04-Oct-2010 and a 52 week low of Rs 1,785.00 on 25-May-2010.

Last one week high and low of the scrip stood at Rs 2,370.00 and Rs 2,197.00 respectively. The current market cap of the company is Rs 110188.70 crore.

The promoters holding in the company stood at 23.40% while Institutions and Non-Institutions held 40.23% and 18.90% respectively.

The country's second largest lender HDFC Bank in a bid to increase its footprint has opened 275 branches in the current fiscal taking its total network to 2,000. The bank had a total of 1,780 branches by the end of December 2010 compared to its distribution network of 1,725 branches in 779 cities as on March 2010. About 220 branches were added to the network in the last few months.

Besides having an overseas presence in Hong Kong and Bahrain, the bank’s reach after the opening of new branches has crossed 1,000 cities. As per the annual report for 2009-10, the bank opened over 300 new branches during the year. The bank's focus on semi-urban and under-banked markets continued, with 68 per cent of the bank's branches now outside the top nine Indian cities.

The bank, which has over 1.8 crore customers, acquired Centurion Bank of Punjab leading to the integration of 404 branches in 2008. Recently, HDFC bank has won the 'Best Retail Bank in India' award for the fifth year in a row beating a host of other competitors in Asia Pacific, Middle-East, Central Asia and Africa on a range of parameters.

HDFC Bank has also paid higher advance corporate tax for the fourth quarter. The company has paid Rs 500 crore as advance corporate tax, higher by 66.67% as compared to Rs 300 crore paid during same quarter last year.

Welspun Corp zooms on bagging orders worth Rs 1,182 crore

Welspun Corp is currently trading at Rs 204.20, up by 6.00 points or 3.03% from its previous closing of Rs 198.20 on the BSE.
The scrip opened at Rs 204.90 and has touched a high and low of Rs 212.40 and Rs 202.10 respectively. So far 177357 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 295.70 on 07-Apr-2010 and a 52 week low of Rs 144.35 on 18-Jan-2011.
Last one week high and low of the scrip stood at Rs 212.40 and Rs 196.00 respectively. The current market cap of the company is Rs 4228.46 crore.
The promoters holding in the company stood at 41.08% while Institutions and Non-Institutions held 32.75% and 26.17% respectively. Welspun Corp the second largest line pipe company in the world, has won pipe orders worth Rs 1,182 crore (approx 155 KMT) largely from international clients. These new orders are likely to be executed over a period of one year.
With the addition of these orders the current order book of the company stands at Rs 6,153 crore (approximately 932 KMT for pipes and external plate orders of 40 KMT) without excluding the orders being executed in Q4 FY 2011.
The company will continue to open newer avenues and deliver superior customer value and sustain the leadership position in the world markets.
Welspun Corp is engaged in manufacturing of pipes. The company was declared the 2nd largest steel pipe producer in the world (Large Diameter) by Financial Times. The company is among the top 3 SAW pipe company in the world according to CLSA Asia Pacific Market Research.

Puravankara Projects gain on launching Purva Midtown Residences

Puravankara Projects is currently trading at Rs. 111.00, up by 0.40 points or 0.36% from its previous closing of Rs. 110.60 on the BSE.

The scrip opened at Rs. 111.00 and has touched a high and low of Rs. 113.00 and Rs. 110.55 respectively. So far 2,703 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 145.25 on 27-Sep-2010 and a 52 week low of Rs. 76.40 on 01-Jun-2010.

Last one week high and low of the scrip stood at Rs. 118.80 and Rs. 101.25 respectively. The current market cap of the company is Rs. 2397.82 crore.

The promoters holding in the company stood at 89.96% while Institutions and Non-Institutions held 8.46% and 1.57% respectively.

Puravankara Projects launched a new mid segment property which institutes the idea of Smart Living - Purva Midtown Residences in East Bangalore. The total project value is Rs. 135 crore and this launch follows the launch of Purva Windermere, a luxury project in Chennai.

This property comprises a total of 307 apartments which is centrally located off Old Madras Road, near C.V. Raman Nagar on a 4.2 acre land parcel. The mix of 2 and 3 bedroom apartments are ranging from 1208 sq. ft. to 1677 sq. ft. and are the epitome of comfort, convenience with an elegance attached to it. These apartments have been designed keeping in mind the double income working population of Bangalore.

Recently, Puravankara Projects has launched a new luxury property - Purva Oceana - in the most premium location on Marine Drive, Kochi. Purva Oceana which is strategically timing the launch closer to completion will be ready for occupation shortly. Purva Oceana, a 12 storied building, with 2 levels of parking, is located on the picturesque Marine Drive waterfront overlooking the Bolgatty Palace and the Marina.

Since inception in 1975, Puravankara has one mantra for success, part from this, values like uncompromising business ethos, focused customer centric approach, robust engineering, in house Research and Development has created the leading real estate brand. 

Deepak Fertilisers gains on establishing its global foot print

Deepak Fertilisers & Petrochemicals is currently trading at Rs. 165.60, up by 6.95 points or 4.38% from its previous closing of Rs. 158.65 on the BSE.

The scrip opened at Rs. 162.00 and has touched a high and low of Rs. 167.80 and Rs. 161.00 respectively. So far 56,486 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 212.40 on 03-Nov-2010 and a 52 week low of Rs. 102.15 on 25-May-2010.

Last one week high and low of the scrip stood at Rs. 167.80 and Rs. 152.10 respectively. The current market cap of the company is Rs. 1402.02 crore.

The promoters holding in the company stood at 42.61% while Institutions and Non-Institutions held 21.14% and 36.25% respectively.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) proposing to “go global” is accordingly working  towards setting up 300 kpta TAN plant is South Australia in the State of Australia to enable the state to realize its ambitious growth plans in resource (minning) and infrastructure sectors. This would be first such plant in SA and will provide cost-effective TAN supplies primarily to local end users. Beyond supplies, the company will also bring in deep knowledge base of products application engineering in mines.

The government of SA has indentified a potentially suitable site for the project, which will be the subject for further feasibility study. The site is close to a deep sea port and nearby city having a long established industrial history with complete infrastructure, skilled workforce etc, thereby providing the project with a more favorable cost competitive construction and operating environment compared to many parts of Australia.

This positive step from the government of SA will enable the company to proceed with the Detailed Feasibility Report (DFR), Environment Impact Assessment (EIA) study and other statutory clearance in the course of next 12-15months and the project will be completed 24 months thereafter. The estimated cost of the projects is around $350 million. While the project is expected to bring in significant socio-economic benefits to the region, the SA state and Australia as a nation, it will enable DFPCL to establish a global foot prints.

FII DII DATA 31/02/2011

Net Index Futures (769), Net Stock Futures (-292), Derivative Market: Total Open Interest (Rs 1,65,995 cr), Stock Futures Open Interest (Rs 36,067 cr)

Indian ADRs Update 31/03/2011

 INFOSYS Up 0.0 (0.0%), WIPRO Up 0.2 (1.4%), ICICI BANK Up 0.6 (1.3%), HDFC BANK Up 1.6 (1.0%)

Global Markets update 31/03/2011

DJIA Up 71 (0.6%) NSDQ Up 19.9 (0.7%) FTSE 100 Up 16.1 (0.3%) Asian Markets as on 8.45 AM  NIKKEI Down 2.88 (0.03%) HANG SENG Up 45.7 (0.19) SGX NIFTY Up 2

Super Spinning Mills wholly owned subsidiary acquires Elgi Building Products

Super Spinning Mills wholly owned subsidiary - Sara Elgi Arteriors acquired 58.32% of equity share capital of Elgi Building Products, a leading manufacturer of PVC extrusions used in the manufacture of UPVC doors and windows.
With this acquisition Elgi Building Products became a subsidiary of Sara Elgi Arteriors and thereby step down subsidiary of Super Spinning Mills. Super Spinning Mills also holds the balance of 41.68% of equity share capital of Elgi Building Products.
Super Spinning Mills commenced operations with the manufacture of grey, gassed, mercerised and dyed cotton yarn. Today, the company has carved a niche for itself on the textile map of country.

Prism Informatics to acquire GOD Barcode Marketing

Prism Informatics has entered into agreement with the promoters/owners of GOD Barcode Marketing mbH (GODBM), Germany for acquiring 100% stake in the company. The acquisition highlights the continued focus by Prism Informatics on strategic acquisition.

The investment of Prism Informatics in GODBM will bring many new competencies and the possibility to deliver those solutions not only to Germany but also to Europe.GODBM is a technology and service provider with key focus in the logistics and supply chain domains, serving clients for close to three decades. The acquisition is expected to strengthen supply chain and logistics domains within these verticals and will allow Prism to grow their clientbase and leverage cross selling across established clients in diverse geographies.

Recently, Prism Informatics has won a contract for Business Intelligence from 'The Mega Home Store - @home, India'. The company will implement Business Objects and Business Warehouse for @home.

Prism Informatics is a mid-sized software development company. Prism's focus has been on delivering cutting edge software solutions coupled with building client relationships. Promoted by Pradeep Kothari, a young technocrat, the Prism team is constantly on the endeavor to contribute to the success of the organization.

AP Paper Mills, M&M, Ashok Leyland and Tata Global Beverages to hog limelight today

Paper sector is likely to be in limelight today, as in a surprising deal International Paper Company, the US based paper and packaging giant, has bought 53.5% in Andhra Pradesh Paper Mills from its promoters for around Rs 1160 crore, the valuation comes well over 175% from its closing in previous session.

Mahindra & Mahindra plans to take 100 of its top vendors to South Korea in May as it aims to integrate sourcing operations and launch Ssangyong's products in India.

Tata Motors, the owner of Jaguar Land Rover, will invest around 50 million pounds in its research & development base in the Midlands over the next two years, in a vote of confidence for UK manufacturing.

After three years of joint working, Ashok Leyland Nissan vehicles, the 50:50 JV between ALL and Nissan Motor, has unveiled its first light commercial product, 'Ashok Leyland Dost'. The 1.25 tonne payload capacity vehicle is to hit the market in the second quarter of 2011-12.

PepsiCo India's joint venture with Tata Global Beverages is set to launch a glucose-based beverage next week. Lehar Gluco Plus, a lemon-flavoured , noncarbonated drink, will be rolled out in pockets of Maharashtra through a pilot project and will be priced at Rs 5.

India's Oil and Natural Gas Corp may skip April naphtha exports from Hazira port for the third month in a row due to a delay in start up of a mooring facility.

US-based International Paper said it has entered into agreements with the promoters of Andhra Pradesh Paper Mills (APPM) to buy their 53.5 per cent stake for USD 257 million (nearly Rs 1,150 crore).

Close on the heels of closing Rs 60-crore securitisation deal with a non-banking financial company (NBFC), SKS Microfinance - the largest microfinance institution in the country - has completed another deal worth Rs 550 crore with two banks.

The Reserve Bank of India (RBI) has questioned the valuation and structure of the high-profile deal cut by private lender Axis Bank last November to buy Enam Securities-an influential Dalal Street brokerage and investment bank.

Hero Honda and Bajaj Auto, the two largest motorcycle manufacturers in India, are getting embroiled in a battle for the fast-growing premium two-wheeler business. The BM Munjal group company wants to step up efforts to counter falling market share in the premium segment.

India's premier bank, State Bank of India, inaugurated its first affordable housing loan cell in Mumbai, which will provide a platform for its customers to interact with the bank.

Kerala-based Muthoot Fincorp, the flagship company of the Muthoot Pappachan Group, announced its foray into the housing finance segment after securing licence from National Housing Bank (NHB).

At a time momentum is building to allow foreign players into front-end retail, Future group and Walmart have met at least five times in the past four months, raising the possibility of an alliance between India's largest retailer and the world's largest retailer. If the alliance fructifies, it could reconfigure organised retail in India.

The Cabinet Committee on Economic Affairs approved a proposal for Rs 4,500 crore foreign direct investment (FDI) in Hero Investments, one of the main shareholders in the country's largest two-wheeler maker Hero Honda, by two private equity firms.

Computer maker HCL Infosystems announced its foray into the tablet space, with launch of its ME range of tabs starting at Rs 14,990.

India's largest IT exporter Tata Consultancy Services (TCS) will expand operations in Europe in sectors like healthcare.

Tata Chemicals introduced its water purifier brand 'Tata Swach' in the Gujarat market as a part of the week long celebrations post the World Water Day.

Hyderabad-based Aurobindo Pharma is going in for large-scale automation of its manufacturing processes as part of a corrective action plan to reduce manual intervention.

With an aim to increase the productivity and an income of farmers, the major agro chemical and Seeds Company in the country- United Phosphorus (UPL) has taken a novel initiative for farmers since the past one year.

Alpine Global Premier Properties Fund, a diversified, closed-end management investment company, today bought around 426,000 shares in Chennai-based Orchid Chemicals & Pharmaceuticals.

Housing Development Finance Corp plans to raise at least 2.5 billion rupees through 5-year bonds at 9.6 percent. The issue opens and closes on April 7 and ICICI Bank is the sole arranger of the deal.

Hotel Leelaventure will invest Rs 100 crore to upgrade its property in Goa this year and is looking to expand presence in India by opening new company-owned properties and taking up management contracts.

Japan's NTT DoCoMo is to buy into Rs 3,000 crore rights issue by Tata Teleservices, set to be announced this week.

Broadcasting majors STAR India and NDTV Group have signed a pact, where STAR India's ad sales team will now handle the advertising sales function of NDTV news channels.

Karur Vysya Bank is in the process of opening its three new branches at Tirupattur and Chengam in Tamil Nadu and Ramanagara in Karnataka.

Energy Development Company in consortium has bagged contract worth Rs 20 crore for design, detailed engineering, manufacturing, supply, erection, testing, commissioning and putting into commercial use of turbine, generator and associated equipment in respect of Kumbhe Hydro Electric Project (1 x 10 MW) from the Government of Maharashtra.

Public sector lender United Bank of India on announced that it will foray into merchant banking and loan syndication business by this year-end.

Textile sector gets Rs 7,400 crore funds for technology upgradation

In a move that will help boost the prospects of Indian textile players in an increasingly competitive global export market, the government has on Tuesday increased the allocation for modernization of the textiles industry to Rs 15,404 crore from earlier sanction of Rs 8,000 crore to be disbursed within the current Five Year Plan ending March 2012.

Not only has it increased the allocation for the Technology Upgradation Fund Scheme (TUFS) but has also restructured the same to make it more effective. A wider gamut of players and particularly the smaller players will be able to get greater benefit and improve their scale of operations from the revised and restructured scheme according to the textile ministry. A decision to this effect was cleared by the Cabinet Committee on Economic Affairs (CCEA) on Tuesday.

As per the restructured scheme, out of the fresh allocation a total of Rs 1972 crore would be available for fresh sanctions while the remaining Rs 5,432 crore will be utilized for meeting the already made commitments. Following the meeting of the CCEA, textile ministry stated that the approval from Cabinet will enable immediate lifting of the pause button imposed on the scheme by it since June 29, 2010. The scheme was put on hold last year following lack of funds.

According to the textile players, one way through which the restructuring will improve the reach of the scheme is the fact that capital ceiling under the margin money has been raised and this would encourage the weaving sector to go in for more number of looms and thus would also boost large-scale investments as well. So far, most of the investments were into second-hand looms.

TUFS was launched in 2007-08 to help the industry upgrade to advanced technology in order to improve competitiveness against other exporting countries.  The scheme mainly provides for reimbursement of 5% interest charged by the financial institutions/banks for technology upgradation projects in conformity with the policy. In case of overseas loans, it gives the option of availing a cover for exchange rate erosion of up to 5% per annum instead of 5% interest support. As per the changes made in the scheme the government under the re-structured scheme, 10% capital sops would also be provided on brand new looms.

India can resort to capital control as and when needed: RBI

Capital controls were a legitimate response to a surge in volatile capital inflows and India’s central bank will resort to the same if and when the need arises, said D Subbarao, Governor of the Reserve Bank of India (RBI) on Tuesday, adding that global perception of capital controls as an economic tool had improved.

Subbarao said that there was a broad consensus among most central banks about making capital controls a legitimate component of the policy response to surges in capital flows. While delivering a speech in Colombo on the occasion of the 60th anniversary celebrations of Central Bank of Sri Lanka, the Governor said the multi-speed recovery around the world and the consequent differential exit from accommodative monetary policy have triggered speculative capital flows into emerging market economies (EMEs).

'The most high profile problem thrown up by capital flows, in excess of a country's absorptive capacity, is currency appreciation which erodes export competitiveness,' he said adding that ideally capital inflows to EMEs should be stable on a medium term basis to benefit the host country and also be roughly equal to the economy's absorptive capacity.

He noted that while multilateral institutions like the International Monetary Fund (IMF) used to see capital controls as a form of protectionism, the views of most economists even in the developed world has changed since the financial crisis of 2008. 'The crisis has changed the terms of that debate. It is now broadly accepted that there could be circumstances in which capital controls can be a legitimate component of the policy response to surges in capital flows,' Subbarao said.

India has so far not imposed any capital inflows, but some other countries including Brazil had resorted to such restrictions. Capital controls are generally in form of some Tobin Tax, named after James Tobin, who was first to propose that cross boarder capital movement should attract a small tax to discourage volatile flows. Since India runs a significant current account deficit (CAD) of around 2.5-3% of its gross domestic product (GDP), it has been following a wait and watch policy on inflows so far. 

While there was a surge in capital inflows by middle of the current financial year, off late, foreign funds have been on the sell mode due to concerns including a high inflation and potential slowdown. Recovery in advanced regions has also lead to slowdown in inflows into emerging economies in recent months. Subbarao stressed that there was a need for economists from both developing and rich world to develop consensus on how temporary surge in inflows or outflows should be handled so as to bring more stability in global financial system.

Super Spinning Mills zooms on its subsidiary acquiring Elgi Building Products

Super Spinning Mills is currently trading at Rs. 11.05, up by 0.65 points or 6.05% from its previous closing of Rs. 10.42 on the BSE.
The scrip opened at Rs. 10.85 and has touched a high and low of Rs. 11.45 and Rs. 10.60 respectively. So far 4480 shares were traded on the counter.
The BSE group 'B' stock of face value Re. 1 has touched a 52 week high of Rs. 20.40 on 28-Oct-2010 and a 52 week low of Rs. 10.00 on 26-May-2010.
Last one week high and low of the scrip stood at Rs. 11.45 and Rs. 10.11 respectively. The current market cap of the company is Rs. 57.20 crore.
The promoters holding in the company stood at 39.57% while Institutions and Non-Institutions held 2.75% and 57.68% respectively.
Super Spinning Mills wholly owned subsidiary - Sara Elgi Arteriors acquired 58.32% of equity share capital of Elgi Building Products, a leading manufacturer of PVC extrusions used in the manufacture of UPVC doors and windows.
With this acquisition Elgi Building Products became a subsidiary of Sara Elgi Arteriors and thereby step down subsidiary of Super Spinning Mills. Super Spinning Mills also holds the balance of 41.68% of equity share capital of Elgi Building Products.
Super Spinning Mills commenced operations with the manufacture of grey, gassed, mercerised and dyed cotton yarn. Today, the company has carved a niche for itself on the textile map of country.

TCS shines on plan of expanding its operation in European market

Tata Consultancy Services (TCS) is currently trading at Rs 1,159.40, up by 20.15 points or 1.77% from its previous closing of Rs 1,139.25 on the BSE.

The scrip opened at Rs 1,147.00 and has touched a high and low of Rs 1,163.00 and Rs 1,145.00 respectively. So far 49,800 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 1,221.00 on 24-Jan-2011 and a 52 week low of Rs 692.00 on 25-May-2010.

Last one week high and low of the scrip stood at Rs 1,163.00 and Rs 1,069.40 respectively. The current market cap of the company is Rs 226059.03 crore.

The promoters holding in the company stood at 74.05% while Institutions and Non-Institutions held 20.68% and 5.27% respectively. Tata Consultancy Services (TCS), a leading global IT services, is planning to expand its operations in Europe in healthcare sectors. The company which derives about 27% of its revenues from Europe is aiming to concentrate more on the European market.

The infotech major is also planning to acquire companies in the German market which can bring certain domain expertise, particularly in the healthcare segment. The Japan’s calamity didn’t have much impact on the company and it moved its employees from there but will go back once the normalcy returns.

The company is looking forward to expand or enter into banking, financial services and insurance, retail, pharma, utilities and manufacturing segments. The company is already pursuing 20 large deals with investment of $50 million each in Asia and Latin America where ample opportunities is present.

Recently, TCS has announced that CUA, Australia’s largest customer-owned financial institution has selected its world-leading TCS BaNCS banking platform to deliver CUA’s new core banking system. The Shanghai Rural Commercial Bank has also selected company’s BaNCS Core Banking solution to achieve a competitive advantage.

Havells India surges on plan of expanding its business prospects

Havells India is currently trading at Rs 361.00, up by 5.85 points or 1.65% from its previous closing of Rs 355.15 on the BSE.
The scrip opened at Rs 359.00 and has touched a high and low of Rs 365.50 and Rs 359.00 respectively. So far 14789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 446.50 on 05-Oct-2010 and a 52 week low of Rs 264.38 on 09-Jun-2010.
Last one week high and low of the scrip stood at Rs 377.00 and Rs 353.50 respectively. The current market cap of the company is Rs 4511.86 crore.
The promoters holding in the company stood at 61.56% while Institutions and Non-Institutions held 18.69% and 19.75% respectively. In a bid to expand its business prospects, Electrical components maker Havells India has opened its new European headquarters in London. The company is very bullish about the future prospects of business and focusing on energy efficiency products.
The company has four plants in Europe - one in the UK, one in Belgium, one in France, one in Germany, two in Latin America and nine in India and in the last one year, the company has hired 60 to 70 people in sales. It has 1,850 employees in Europe, including 300 in the UK.
Earlier, the European headquarters of the company was in Germany, but it has been shifted to London, where a lot of innovation is being done.
Havells India reported a net profit of Rs 61.12 crore for the quarter ended December 31, 2010 as compared to Rs 58.93 crore for the quarter ended December 31, 2009, up 3.72%. Its total income increased by 23.10% to Rs 728.01 crore for the quarter ended December 31, 2010 from Rs 591.40 crore for the quarter ended December 31, 2009.

Tata Motors rises on plan of spending 50 million pounds on UK’s R&D base

Tata Motors is currently trading at Rs 1251.00, up by 11.80 points or 0.95% from its previous closing of Rs 1239.20 on the BSE.
The scrip opened at Rs 1240.00 and has touched a high and low of Rs 1258.00 and Rs 1239.80 respectively. So far 63172 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1381.40 on 06-Dec-2010 and a 52 week low of Rs 670.00 on 25-May-2010.
Last one week high and low of the scrip stood at Rs 1258.00 and Rs 1145.20 respectively. The current market cap of the company is Rs 67082.27 crore.
The promoters holding in the company stood at 34.93% while Institutions and Non-Institutions held 38.16% and 8.67% respectively. Tata Motors, India's largest automobile company, is investing around 50 million pounds in its research and development base in the Midlands over the next two years, in a vote of confidence for UK manufacturing.
The company is planning to hire 100 new engineers at the Tata Motors' European Technical Centre (TMETC), thereby boosting the workforce by more than 40% to 340, as the company steps up its focus on low-carbon technologies. TMETC has developed Tata's Vista electric vehicle and the Pixel city car, which the company is targeting at European drivers.
The centre is based at the University of Warwick and is operated in partnership with WMG, formerly known as the Warwick Manufacturing Group. Tata has invested 85 million pounds since incorporating TMETC in 2005.