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Britannia bets big on health food products

Written By komp limpulima on Sabtu, 08 November 2014 | 23.25

Britannia Industries, the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

At this point in time, it is not a large part of our total revenue. But with the kind of health revolution that is going on in the country, over the years, it could become 20 percent.

Varun Berry

MD

Britannia Industries

Britannia Industries , the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

Excerpts from the interview.

Q: What is the plan with the health products segment?

A: Biscuits is an established category. What gives me a lot of faith in our products is that because we are trading up on biscuits and getting healthy biscuits we have seen the same with other NutriChoice variants that we have launched. So, I am pretty sure that the adopters of health are going to certainly buy our product and this category is going to grow over a period of time.

Q: When you look at the overall revenue, can you tell us how much the health segment contributes for Britannia as a whole?

A: At this point in time, it is not a large part of our total revenue. It will be about 6 percent of our total revenue but we are pretty sure that with the kind of health revolution that is going on in the country over the years if we take the lead in these segments, this segment is certainly going to become about 20 percent of the total revenue.

Britannia stock price

On November 07, 2014, Britannia Industries closed at Rs 1521.60, down Rs 34.05, or 2.19 percent. The 52-week high of the share was Rs 1578.00 and the 52-week low was Rs 812.00.


The company's trailing 12-month (TTM) EPS was at Rs 32.63 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 46.63. The latest book value of the company is Rs 71.17 per share. At current value, the price-to-book value of the company is 21.38.


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TRAI sets Nov 29 as deadline for porting out Loop customers

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

Telecom regulator TRAI has fixed midnight of November 29 as deadline for subscribers of Loop Mobile to shift to other networks while retaining their numbers by using the MNP facility.

Loop Mobile's permit in Mumbai is expiring on November 29 as it did not purchase spectrum in February auction which was mandatory for continuing its operations.

The Telecom Regulatory Authority of India today directed Mobile Number Portability service provider "not to process the request for porting in respect of mobile telephone numbers belonging to Loop Mobile...as donor operator after 23:59:59 hours of 29th November".

It has also agreed to the demand of Loop Mobile of providing with bulk MNP codes to transfer its over 10 lakh customer base in Delhi before its licence expires on November 29. TRAI has allowed Loop Mobile to use an additional service provider code 'F' in addition to its existing code 'L' to enable it to generate more than 5 lakh codes at a time.

Telecom major Bharti Airtel  this week called off the deal to acquire business and assets of Mumbai-based Loop Mobile including subscribers for about Rs 700 crore, pending clearances by the Department of Telecom.

DoT estimates that Loop Mobile and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and other charges to the government.

Bharti Airtel stock price

On November 07, 2014, Bharti Airtel closed at Rs 390.50, up Rs 5.20, or 1.35 percent. The 52-week high of the share was Rs 419.90 and the 52-week low was Rs 282.10.


The company's trailing 12-month (TTM) EPS was at Rs 27.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 14.25. The latest book value of the company is Rs 166.93 per share. At current value, the price-to-book value of the company is 2.34.


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Jet Airways board approves raising up to $300 m via NCDs

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

The board of Jet Airways  has given its nod to raise long-term finance of up to USD 300 million via redeemable preferential shares or non-convertible debentures (NCDs). The fundraising will be its largest after Etihad's USD 330-million investment in the airline.

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

Meanwhile, the airline has reported its first quarterly profit since 2012 on Friday, thanks to the sale of its frequent flyer business, but the airline continued to lose money once one-off gains were excluded.

Jet, which has struggled to make money amid fierce competition for fares and high operating costs, said net profit totalled Rs 69.8 crore in the three months to September 30 after it banked a Rs 305 crore gain from the sale of its Jet Privilege frequent flyer programme.

Excluding the sale, Jet, which is targeting a return to profitability by 2017, lost Rs 235 crore in the quarter, less than the Rs 833 crore it reported a year earlier after operating income rose and fuel costs fell.

Jet Airways stock price

On November 07, 2014, Jet Airways closed at Rs 251.45, up Rs 7.35, or 3.01 percent. The 52-week high of the share was Rs 354.40 and the 52-week low was Rs 203.50.


The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.28.


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Exchanges to suspend trading in Kingfisher, UB Engineering

In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE today announced suspension of trading in shares of Kingfisher Airlines  and another group firm, UB Engineering , from next month.

Besides, the entire promoter shareholding of these companies have been frozen with effect from today itself. The action follows non-compliance to a Listing Agreement clause relating to timely preparation and disclosure of financial results by a listed company for two consecutive quarters. The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.

In separate circulars, BSE and NSE said that the trading would be suspended in securities of Kingfisher and UB Engineering -- both parts of crisis-hit UB group headed by Vijay Mallya -- with effect from December 1.

The suspension follows Sebi guidelines with respect to Standard Operating Procedure (SOP) for suspension and revocation of trading of shares of listed entities for non-compliance of the Listing Agreement that a listed company needs to follow pursuant to its shares getting listed and traded on a stock exchange.

Shares of Kingfisher, once touted as most luxurious airline in India, are currently trading below Rs 2 apiece and its market capitalisation now stands at just about Rs 150 crore. At one point of time, before financial troubles began and led to its grounding in October 2012, the company carried a market valuation of close to Rs 10,000 crore.

For the year ended March 2013, the carrier saw its net loss widen to Rs 4,301.12 crore. During that period, the gross income stood at Rs 683.46 crore. A consortium of 17 banks has an outstanding debt of about Rs 6,521 crore from the now-grounded carrier and outside the consortium, there are some other loans also.

In Kingfisher, promoters have just 8.54 percent stake, while public holding stands very high at 91.46 percent. The non-promoter shareholders include more than two lakh small investors, over 6,000 HNIs, over 2000 NRIs and 13 FIIs, among others.

Along with Kingfisher and UB Engineering, NSE has also announced trading suspension for securities of Varun Industries Limited on account of non-compliance with Clause 41 of the Listing Agreement for two consecutive quarters, that is quarter ended March, 2014 and June, 2014.

"Accordingly, the entire promoter shareholding of Varun Industries Limited, UB Engineering Limited and Kingfisher Airlines Limited shall be freezed with effect from November 7, 2014 till further notice."

"In case, Varun Industries, UB Engineering and Kingfisher Airlines complies with respective requirement/s including payment of fines on or before November 25, 2014 (five days before the proposed date of suspension), the trading in securities of the said companies will not be suspended," NSE said.

In UB Engineering, which has a market cap of about Rs 14 crore, public holds 59.26 percent stake while promoter group controls 40.74 percent.

In case these companies fail to comply with the provisions of the Listing Agreement on or before November 25, 2014, then trading in their shares would be suspended from December 1 and the suspension will continue till such time the company complies including the payment of fine.

After 15 days of suspension, trading in the shares of non-compliant companies would be allowed on Trade for Trade basis in on the first trading day of every week for six months, NSE said. BSE has taken similar action against 21 companies, including Kingfisher and UB Engineering.

Others include Nilachal Refractories , Linkson International , Secure Earth Technologies , Ratan Glitter Industries , Bheema Cements , Arvind International , Elegant Floriculture & Agrotech India , Pretto Leather Industries , UT Ltd , Arihants Securities Ltd , Raghava Estates and Properties , Tutis Technologies , Valuemart Info Technologies , Ontrack Systems , A von Corporation , Birla Pacific Medspa , Best & Crompton Engineering , Varun Industries  and Maestros Mediline Systems .

Kingfisher Airlines is already facing a close regulatory scrutiny over suspected lapses in its accounting practices and the Corporate Affairs Ministry is looking into possible violations of Companies Act.

The airline, part of Vijay Mallya-led UB Group, has been grounded for over two years now after being bogged down by huge and mounting losses.

The carrier is yet to submit its annual financial results for the 2013-14 period to the stock exchanges. In a filing to the BSE on August 26, the carrier had said that steps were being taken to appoint directors in order to comply with provisions of the Companies Act, 2013 and listing agreement with the stock exchanges.

"Thereafter, steps will be taken towards publishing the audited results for the year ended March 31, 2014 and for the quarter ended June 30, 2014," it had said.

Back in May, Kingfisher had informed stock exchanges that "there are hardly any employees attending office and the company is currently operating with skeletal staff making it difficult to audit and publish the results in time."

As part of the recovery process, banks in February last year decided to sell a portion of the collateral with them, including shares of its group companies United Spirits Ltd and Mangalore Chemicals & Fertilizers Ltd, Mallya's Goa villa, Kingfisher House in Mumbai and the Kingfisher brand, which was valued at over Rs 4,000 crore at the time it was pledged.


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South India emerges as property hotspot

South India has pipped the north and west when it comes to commercial real estate. From January to September, almost 50 percent of new office space deals were struck in Chennai, Hyderabad and Bangalore. Thanks primarily to the IT/ITeS sector, commercial real estate in south india is building new blocks towards recovery. Nayantara Rai brings you the findings of the latest report by international property consultant CBRE.

Chennai recorded a 50 percent quarterly growth in the July-September period, with some of the bigger transactions involving properties like the Prestige Palladium in the heart of the city, the DLF IT SEZ, approximately 5 km from the airport; and along the city's upcoming it corridor in Sholin-Ganallur where a contract research firm scope international signed up 96,000 sqft

What's also noteworthy is the appreciation in rentals, rising by 25 percent Y-o-Y and 15 percent-plus Q-o-Q in IT SEZs in localities like Velachary, Perungudi and Poonamallee Road. A similar trend is panning out 20 km away from Chennai's city centre at the upcoming it corridor. CBRE concedes this is not sustainable.

Anshuman Magazine, CMD - South Asia, CB Richard Ellis, said: "This may not be sustainable but the fact is we do expect in some of the areas where the supply is limited and some improvement in demand happens there could be marginal increase in rentals."

With the end of the political crisis that had paralysed Hyderabad's property market, CBRE has observed a revival, albeit a gradual one from corporates, especially those from the IT sector and back-end offices for financial services. The action is not so much in the popular Banjara and Jubilee Hills, but in the established it corridor of HiTec city and Gachibowli, where rentals have been slowly inching up.

CBRE says Hyderabad has the potential to emerge as the preferred office destination of corporates. But for that, the city's cheaper and upcoming it corridor—comprising Kukatpally, Manikonda and Nana-Kramguda--have to remain competitive against Bangalore, Chennai and Pune.

India's IT capital Bangalore is still the country's largest office market. A few of large deals inked in the July-September quarter include Mercedes Benz and TCS in Whitefield; Bosch at Sarjapur Marthahalli in Outer Ring Road; Accenture at Mysore road and Wipro again at the Outer Ring Road. These are the future growth corridors identified by CBRE.

"The place to watch out is North Bangalore. We are seeing lot of activity, new special economic zones coming in, airport being in close vicinity, I think in next couple of years North Bangalore will see quite a bit of activity," Magazine said.

And prospects for Bangalore remain bright. In India's largest leasing transaction e-tailing giant Flipkart has signed on the dotted line for a 3 million square foot custom-built campus from local builder embassy. The deal is pegged at Rs 85/sqft. Accenture is believed to be on the lookout for another 1 million sqft.


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iYogi: Online subscription-based technical support service

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Founded in 2007, iYogi acts as your computer's online doctor and its team of 5,000 manages close to 2.2 million devices remotely from their headquarters in Gurgaon.

Watch video for more…


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Rolls-Royce launches Ghost Series II at Rs 4.50 cr

Written By komp limpulima on Jumat, 07 November 2014 | 23.25

British ultra-luxury car maker Rolls-Royce today rolled out its latest offering Ghost Series II in the domestic market, priced at Rs 4.50 crore and pitched for lower taxes to spur growth in the ultra luxury car segment in the country.

British ultra-luxury car maker Rolls-Royce today rolled out its latest offering Ghost Series II in the domestic market, priced at Rs 4.50 crore and pitched for lower taxes to spur growth in the ultra luxury car segment in the country.

"India is a key market for Rolls-Royce cars. In answer to our clients' demand for the best in effortless, dynamism, modern luxury and industry leading technology, we are proud to present Ghost II series," Rolls-Royce Asia-Pacific general manager Sven J Ritter said at the launch.

He said in their latest offering, customers will find the same level of exclusivity, quality and perfection that is quintessentially Rolls-Royce.

Ritter said that India is among the top five markets for Ghost model in the Asia Pacific region but did not divulge any sales number.

The British ultra-luxury car maker, which entered the Indian market in 2005, currently sells three models- Phantom, Ghost and Wraith, through five dealerships across the country. Ghost was first launched in India in 2009.

Ritter however, said that Rolls-Royce has so far sold 250 units of its three models since 2005.

Building on this success, is Ghost II series which comes with innovative technological design and engineering features, he said. "We certainly see more growth. Sentiment are positive following the new Government taking over but one thing that could change is the tax system. Taxes are very high. Though there are several other issues which are to be addressed by the new government, we will certainly welcome lower taxes for the luxury segment," Ritter said.


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ArcelorMittal posts USD 22mn profit in July-Sept

ArcelorMittal today reported a net income of USD 22 million for the July-September quarter of this year on the back of higher sales and better price.

ArcelorMittal today reported a net income of USD 22 million for the July-September quarter of this year on the back of higher sales and better price.

The world's largest steel maker had reported USD 193 million loss in the July-September quarter of last year, it said in a statement.

Sales for the reporting quarter were higher at USD 20.06 billion as compared to USD 19.6 billion a year ago mainly due to improved steel sales and higher marketable iron ore sales.

Total steel shipments for the quarter were 21.5 million tonnes, higher by 3.9 percent over 20.7 million tonnes reported in the same quarter last year.

"This quarter's results show considerable improvement in our steel business which has more than offset the fall in the iron ore price. Europe has delivered another strong quarter, reflecting improved market conditions and the benefits of the optimisation efforts, the turnaround in ACIS is evident, and the NAFTA business has recovered after a disappointing first half," said Lakshmi N. Mittal, ArcelorMittal Chairman and CEO.

"Based on today's market conditions, I do not foresee a deterioration in our performance in the fourth quarter. As a result we are well placed to achieve full year EBITDA in excess of USD seven billion," he added.

Net debt of the company, as of September-end, stood at USD 17.8 billion as compared to USD 17.4 billion as of June 30, 2014.

The company said this is due largely to working capital investment of USD 0.6 billion and dividends of USD 0.4 billion which was partially offset by forex effects USD 0.5 billion.

ArcelorMittal said operating conditions remain generally favourable. The impact of declining iron ore price on mining segment profitability was offset by improvement in the steel business.

Net interest expense is now expected to be approximately USD 1.5 billion for 2014 and capital expenditure approximately at USD 3.8 billion for the whole year.

"The company maintains its medium term net debt target of USD 15 billion," it said.


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Britannia bets big on health food products

Britannia Industries, the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

At this point in time, it is not a large part of our total revenue. But with the kind of health revolution that is going on in the country, over the years, it could become 20 percent.

Varun Berry

MD

Britannia Industries

Britannia Industries , the maker of Tiger and Good Day biscuits, is betting big on the health food category. In an interaction with CNBC-TV18's Zahra Khan, Britannia MD Varun Berry discussed the company's plans in the segment.

Excerpts from the interview.

Q: What is the plan with the health products segment?

A: Biscuits is an established category. What gives me a lot of faith in our products is that because we are trading up on biscuits and getting healthy biscuits we have seen the same with other NutriChoice variants that we have launched. So, I am pretty sure that the adopters of health are going to certainly buy our product and this category is going to grow over a period of time.

Q: When you look at the overall revenue, can you tell us how much the health segment contributes for Britannia as a whole?

A: At this point in time, it is not a large part of our total revenue. It will be about 6 percent of our total revenue but we are pretty sure that with the kind of health revolution that is going on in the country over the years if we take the lead in these segments, this segment is certainly going to become about 20 percent of the total revenue.

Britannia stock price

On November 07, 2014, Britannia Industries closed at Rs 1521.60, down Rs 34.05, or 2.19 percent. The 52-week high of the share was Rs 1578.00 and the 52-week low was Rs 812.00.


The company's trailing 12-month (TTM) EPS was at Rs 32.63 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 46.63. The latest book value of the company is Rs 71.17 per share. At current value, the price-to-book value of the company is 21.38.


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Jet Airways board approves raising up to $300 m via NCDs

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

The board of Jet Airways  has given its nod to raise long-term finance of up to USD 300 million via redeemable preferential shares or non-convertible debentures (NCDs). The fundraising will be its largest after Etihad's USD 330-million investment in the airline.

While the timeline of the fundraising has not been outlined, the move will help Jet Airways bring down its debt.

Meanwhile, the airline has reported its first quarterly profit since 2012 on Friday, thanks to the sale of its frequent flyer business, but the airline continued to lose money once one-off gains were excluded.

Jet, which has struggled to make money amid fierce competition for fares and high operating costs, said net profit totalled Rs 69.8 crore in the three months to September 30 after it banked a Rs 305 crore gain from the sale of its Jet Privilege frequent flyer programme.

Excluding the sale, Jet, which is targeting a return to profitability by 2017, lost Rs 235 crore in the quarter, less than the Rs 833 crore it reported a year earlier after operating income rose and fuel costs fell.

Jet Airways stock price

On November 07, 2014, Jet Airways closed at Rs 251.45, up Rs 7.35, or 3.01 percent. The 52-week high of the share was Rs 354.40 and the 52-week low was Rs 203.50.


The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.28.


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