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One-time spectrum fee: DoT may seek transfer of pleas to SC

Written By komp limpulima on Senin, 01 September 2014 | 23.25

According to sources, DoT is of the view that nothing has moved since interim stay granted by high courts and the matters are pending before the various high courts as a "regular matter".

The Department of Telecom (DoT) may seek legal opinion regarding filing a plea seeking transfer of writ petitions filed by mobile operators challenging levy of one-time spectrum charge in various high courts and TDSAT to the Supreme Court.

The DoT had issued orders regarding charging of one-time spectrum charge on December 28, 2012 and March 15, 2013 to various operators, including Bharti Airtel , Vodafone, Idea Cellular , RCom , Aircel, BSNL, MTNL  and Tata Teleservices .

DoT had issued a demand of Rs 5,201.24 crore for Bharti Airtel, Rs 3,599.40 crore for Vodafone, Rs 1,882 crore for Idea Cellular, Rs 1,351.51 crore for Aircel, Rs 305.11 crore for Reliance Communications and Rs 173.47 for Reliance Telecom.

The department had also issued demand of Rs 6,911.86 crore for BSNL, Rs 3,205.71 crore for MTNL, Rs 232.29 crore for Tata Teleservices and Rs 606.72 crore for BPL.

According to sources, DoT is of the view that nothing has moved since interim stay granted by high courts and the matters are pending before the various high courts as a "regular matter".

The sources added that as the matter involved government revenue to the tune of thousands of crores of rupees and every effort needs to be made for speedily disposal of the pending petitions in order to avoid huge loss to the public exchequer.

"As telecom service providers had filed writ petitions at various high courts, there may be possibility for pronouncement of conflicting judgements," the source said

Airtel, Idea, Tata Teleservices and RCom had approached the Bombay High Court, Aircel the Madras High Court and Reliance Telecom the Calcutta High Court.

Vodafone and Loop Mobile had challenged the DoT order in TSDAT.

"In view of the facts and circumstances, it is proposed that we may request to Ministry of Law and Justice, Department of Legal Affairs for seeking legal opinion regarding transfer of writ petitions/petitions filed by telecom service providers from various High Courts/TDSAT to Supreme Court," the source said.

Bharti Airtel stock price

On August 22, 2014, Bharti Airtel closed at Rs 375.95, up Rs 6.25, or 1.69 percent. The 52-week high of the share was Rs 386.80 and the 52-week low was Rs 281.00.


The company's trailing 12-month (TTM) EPS was at Rs 19.52 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 19.26. 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 2.25.


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Hyundai sales down 8% to 48,111 units in August

The company had sold 52,319 units in the same month last year, it said in a statement. In the domestic market, Hyundai sold 33,750 units last month as compared to 28,311 units in August 2013, up 19.2 percent.

Hyundai Motor India Ltd (HMIL) today reported 8 percent decline in total sales at 48,111 units in August 2014.

The company had sold 52,319 units in the same month last year, it said in a statement. In the domestic market, Hyundai sold 33,750 units last month as compared to 28,311 units in August 2013, up 19.2 percent.

During the month, Hyundai's exports declined by 40.2 percent to 14,361 units as against 24,008 units in the same period last year. Commenting on the sales performance, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said the company continued to build on the positive momentum with good response for the new products such as Elite i20, Xcent and the Grand.

"We maintain a cautious optimism for a good festive season on the strength of new products, increase in demand for petrol cars and improving customer sentiments," he added.


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Re-auction 218 coal blocks, try to save 40: Centre to SC

During the hearing, Rohatgi said like the 40 operational mines, there are six others which are "absolutely in readiness" to be operational for end use plant and if the verdict has to be strictly followed "all have to be cancelled with one stroke of brush".

Government today told the Supreme Court that it "wants re-auction of all 218 coal blocks" declared as illegal allocation but sought its indulgence to "exempt" 40 of them which are functional and ready for the end use power plants.

"Government stands by the August 25 judgement. We want re-auction of 218 coal blocks. We will be happy if we save some 40 of them which are functional or operational and ready for end use plant," Attorney General Mukul Rohatgi submitted while making clear the stand of the Narendra Modi Government before a bench headed by Chief Justice R M Lodha.

However, the Attorney General said the 40 mines for which requisite clearances have been on board and are operational must not be treated with "one brush" and "can be exempted" from cancellation and re-auction, provided they meet the condition of compensating the loss of Rs 295 per tonne caused to the government and enter into a power purchase agreement at Rs 95 per tonne to make up the loss.

He said there was a need for saving 40 coal blocks from "guillotine of cancellation" as uncertainity of coal availability would affect the plants, when the country is facing acute shortage of power supply.

Rohatgi said Government was not in favour of setting up of any committee comprising its retired judges as suggested by the apex court to analyse the consequences of the verdict on the allocation which has been held as illegal.

"We don't want any committee. If it has to go, all (coal block allocations) must go. My thought is the Government view," Rohatgi told the bench, also comprising justices Madan B Lokur and Kurian Joseph.

While asking the Centre to file an affidavit on its stand, the bench said, "Union is very clear that auction should take place. They are very clear that all the 218 coal
blocks be put under auction".

"The allocations have been found to be altogether illegal. Therefore it (centre) wants to start from a clean slate," the bench observed.

During the hearing, Rohatgi said like the 40 operational mines, there are six others which are "absolutely in readiness" to be operational for end use plant and if the verdict has to be strictly followed "all have to be cancelled with one stroke of brush".


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2G scam: CBI begins internal probe into document leak

CBI has objected to the claims made by Bhushan in his petition that its Director had been reprimanded in coal scam by the SC saying that there was no order in connection with this.

CBI has begun an internal inquiry to probe leakage of classified documents in connection with the 2G spectrum allocation case as the agency finalized its counter arguments in the Supreme Court Tuesday over charges levelled by an NGO that the agency's Director Ranjit Sinha was delaying trial in the scam.

Ahead of the hearing, a series of meetings was held with the counsel representing CBI in the apex court where the agency will impress upon alleged twisting of facts by the counsel of the NGO, Centre for Public Interest Litigation, Prashant Bhushan, official sources said.

CBI has objected to the claims made by Bhushan in his petition that its Director had been reprimanded in coal scam by the SC saying that there was no order in connection with this, they said.

CBI will also inform the Supreme Court about leakage of documents from the agency and also that an internal probe had been ordered to fix those responsible for the act of passing on internal file notings and classified notes outside the agency.

CBI will convey to the Supreme Court that since many provisions of the Right to Information Act were not applicable to the agency, how could the counsel for NGO have access to internal file notings, they said.

The internal inquiry is to find the "mole" within the organisation, the sources said.


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Cipla launches generic respiratory drug in Germany, Sweden

Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, the company said.

Pharmaceutical major Cipla  Monday launched its generic drug used for treatment of asthma and chronic obstructive pulmonary disease in Germany and Sweden.

While the drug Salmeterol/Fluticasone MDI will be sold under the Serroflo brand in Germany, it will be marketed as Salmeterol/Fluticasone Cipla in Sweden, Cipla said in a statement.

Commenting on the development, Cipla Europe Head Frank Pieters said: "With Serroflo we offer in Germany and Sweden an alternative which is effective and efficient and therefore brings many advantages into a market which suffers from limited resources."

Also read: Logic behind big bang spike in pharma stocks

Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, the company said.

The product will be available in the strengths of 120 doses of 25/125 mcg salmeterol/fluticasone and 120 doses of 25/250 mcg salmeterol/fluticasone, it added.

"Over the next 12-18 months we will see a series of launches throughout Europe as we know that there is a common need for high quality, affordable, reliable and thus sustainable therapy-alternatives ...," Cipla Managing Director and Global CEO Subhanu Saxena said.

In Europe, about 30 million patients under 45 years suffer from asthma causing a huge burden and triggering significant disability and work loss, Cipla said.

The introduction of Salmeterol/Fluticasone in Germany and Sweden is a key milestone in Cipla's ambition to improve treatment adherence in asthma and to offer better healthcare solutions for patients irrespective of what disease they suffer from, it added.

Cipla's portfolio includes 2,000 products in 65 therapeutic categories.

Cipla stock price

On August 22, 2014, Cipla closed at Rs 529.70, up Rs 15.40, or 2.99 percent. The 52-week high of the share was Rs 531.95 and the 52-week low was Rs 366.70.


The company's trailing 12-month (TTM) EPS was at Rs 15.51 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 34.15. The latest book value of the company is Rs 125.69 per share. At current value, the price-to-book value of the company is 4.21.


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Can ITC milk the dairy market?

But long worried about the low-margin returns of the FMCG business, analysts will likely keep a wary eye on the new foray.

Moneycontrol Bureau

Conglomerate  ITC is planning to enter the lucrative dairy market, much of which is currently unorganized while the organized market is dominated by players such as Amul, Nestle, Gowardhan and Brittania.

According to a report in the Business Standard , the hotels-to-tobacco major plans to set up plants in six players and plans to become a pan-India player in the sector.

The move is part of the diversification strategy ITC started a little over a decade ago when cigarettes were its core business.
 
Before this, the company's last move was to venture into the FMCG business. The move came after regulatory concerns over tobacco products were seen to be increasing.

However, cigarettes continue to account for nearly half of the company's consolidated sales and almost all of its net profits.

This shows that the company continues to earn a high profit margin on its tobacco businesses despite the increasingly high amount that has been levied on it in recent years.

Over the years, several analysts have questioned ITC's decision to diversify into other lower-return businesses even as it continues to do well in its core cigarettes business.

Recently, company chairman YC Deveshwar defended the move and said it had established strong brands in the FMCG segment and that its aim was to become the country's number-one player in the business by 2030 with revenues of Rs 1 lakh crore.

He had also then said that the company would eventually look to enter the dairy, fruit juices, tea, coffee and chocolates divisions.

In a 2012 interview, Deveshwar had said ITC would spend about Rs 25,000 crore over the next five-seven years to power its growth in these segments.

But long worried about the low-margin returns of the FMCG business, analysts will likely keep a wary eye on the new foray.

ITC stock price

On August 22, 2014, ITC closed at Rs 350.30, down Rs 4.85, or 1.37 percent. The 52-week high of the share was Rs 386.75 and the 52-week low was Rs 293.50.


The company's trailing 12-month (TTM) EPS was at Rs 11.40 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 30.73. The latest book value of the company is Rs 32.97 per share. At current value, the price-to-book value of the company is 10.62.


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CCI clears Wipro GE Healthcare-GE India Technology deal

Written By komp limpulima on Minggu, 31 Agustus 2014 | 23.25

The Commission observed that while Wipro GE is engaged in manufacturing and distributing various medical equipment and solutions including life sciences equipment and devices, GE India Technology is into multi-disciplinary research and development in various technologies such as bio-technology.

The Competition Commission has approved medical equipment firm Wipro GE Healthcare's proposed deal to acquire GE group's assets related to bio-technology and life sciences.

According to the Competition Commission of India (CCI) "the proposed combination is not likely to have appreciable adverse effect on competition in India". Under the deal, Wipro GE would acquire assets of GE India Technology Centre -- part of US-headquartered conglomerate General Electric group -- used in the research areas of bio-technology and life sciences.

Also read: Piramal, Navin Fluorine to form healthcare JV

The Commission observed that while Wipro GE is engaged in manufacturing and distributing various medical equipment and solutions including life sciences equipment and devices, GE
 India Technology is into multi-disciplinary research and development in various technologies such as bio-technology.   '

"Accordingly, it is observed that there is no horizontal overlap between the businesses of Wipro GE and GE India Technology Centre Ltd," CCI said in an order released today. Further, CCI noted that "the proposed combination would facilitate vertical integration of the businesses of Wipro GE as it would enable Wipro GE to sell equipment as well as provide related research and other support services in biotech and life-sciences areas".

"It is also observed that GE India Technology Centre renders 100 per cent of its services to the affiliates of GE group across the world, including India," CCI said. "Therefore, this vertical integration is unlikely to result in any appreciable adverse effect on competition," the fair trade regulator added. The 'Asset Purchase Agreement' was entered between the two companies on July 7, 2014 following which they had approached the competition commission for approval in the same month.


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NTPC may revise Katwa power capacity to 1980MW

NTPC chairman Arup Roychoudhury said that it was planning to add one more unit of 660 mw capacity to the existing project given the enthusiam seen from farmers to sell their land.

The country's largest power producer, NTPC  Ltd remained optimistic of the super critical 1320 MW Katwa thermal plant in West Bengal.

NTPC chairman Arup Roychoudhury said that it was planning to add one more unit of 660 mw capacity to the existing project given the enthusiam seen from farmers to sell their land.

"Katwa thermal power plant of 1320 mw (660MWx2) is a reality as we already have 550 acres land already in our possession and is fenced. We may put one more additional unit of 660 mw, if we get the additional land we are looking," one the sidelines of The Bengal Chamber organised enviornment and energy conclave.

"On September 3, the tender for EPC contract for the project will be opened where 4-5 bidders like BHEL , L&T  and others have expressed interest," he said.

NTPC was aiming for another 300 acres of land of which some 200 acres of land would be acquired directly from the farmers and rest 100 acres was expected to come from state government.

"Farmers are very keen to sell their land given the price we will offer," the NTPC chief said.

Also read:  NTPC sees strong growth avenues with 24x7 power supply plan

NTPC officials said farmers were keener to sell their land as the offer price which will be around Rs 16.5 lakh per acre against current ruling price of Rs 3 lakh per acre was extremely lucrative for them.

Roychoudhury said the state government will have give a formal approval of the land price for acquisition and resolve some formalities in case of coal block linkage it had offered for the project.

Meanwhile, a BCCI-organised two day enviornment and engery conclave was inaugurated by West Bengal power minister Manish Gupta attended among others by KPMG India CEO Richard Rekhy, Philips India VC and MD A Krishnakumar, TIL MD Sumit Mazumder and British deputy High Commissioner S Furssedonn-Wood.

NTPC stock price

On August 22, 2014, NTPC closed at Rs 137.70, down Rs 1.65, or 1.18 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 110.90.


The company's trailing 12-month (TTM) EPS was at Rs 12.91 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 10.67. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.32.


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PM's visit to US may boost NTPC's geo-thermal project

Geo-thermal technology involves utilisation of heat from rocks and fluids in the earth's crust to generate electricity.

The country's first geo-thermal project by power major  NTPC may get a boost with the proposed visit of Prime Minister Narendra Modi to the US.

NTPC chairman and managing director Arup Roy Choudhury said they are contemplating cooperation from the US to harness the geo-thermal project for which it has already signed a memorandum of understanding with the Chhattisgarh government.

"We may need to send a team to the US to identify agencies for collaboration. But this will be taken at the government level after the Prime Minister's visit to the US. "At present, the geo-thermal project is at an exploratory stage and the DPR is being prepared," Choudhury said on the sidelines of The Bengal Chamber-organised environment and energy conclave here today.

Also read: NTPC may revise Katwa power capacity to 1980MW

Discussions on the Indo-US cooperation for harnessing India's geo-thermal potential is expected to take place with Prime Minister Narendra Modi's visit to the US. NTPC first signed a MoU with the Chhattisgarh Renewable Energy Development Agency to set up the project at Tattapani. It signed the second MOU in January this year with the Geological Survey of India for preparation of a detailed project report.

Geo-thermal technology involves utilisation of heat from rocks and fluids in the earth's crust to generate electricity. Speaking about exploring renewables, Choudhury said NTPC is laying emphasis on developing a solar portfolio and had invited tender for 1,000 MW of solar power project. "We have already invited tender for 100 MW.

We are talking to states like Madhya Pradesh, Andhra Pradesh and Rajasthan, who are keen on developing solar energy parks," Choudhury said. NTPC aims to set up 3,000 MW of solar power project over the next 3-3.5 years. He, however, made clear that the company has put thermal power projects worth 22,000 MW under execution and 8,000-10,000 MW is under pipeline.

Choudhury said prima facie it is not affected by the recent Supreme Court order on allocation of coal blocks and its coal mining operations will proceed.

NTPC stock price

On August 22, 2014, NTPC closed at Rs 137.70, down Rs 1.65, or 1.18 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 110.90.


The company's trailing 12-month (TTM) EPS was at Rs 12.91 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 10.67. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.32.


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UP sugar mills to boycott meeting for fixing cane area

UP Sugar Mills Association (UPSMA) has decided not to participate in the meeting as it has given notice to the state government that they will not start crushing operations next season till the cane prices are not linked to sugar price

Private sugar millers in Uttar Pradesh have decided to 'boycott' a meeting called by the state government to fix area from where they will source cane for making sweetener in the next season starting October.

UP Sugar Mills Association (UPSMA) has decided not to participate in the meeting as it has given notice to the state government that they will not start crushing operations next season till the cane prices are not linked to sugar price.

Also read: Govt hits out at UP sugar mills for non-payment to farmers  

Earlier this month, cash-starved private sugar mills in UP had threatened to shut down operations in the 2014-15 season if the state government does not link cane price with sugar realisation like some other states.

The UP state government has called district wise meetings beginning September 10 for fixing cane area for all the sugar mills in the state. "In view of suspension notice given and maintenance staff having been withdrawn, it does not make any sense to participate in the meetings for cane reservation for 2014-15 sugar season," the UPSMA said in a statement.

Expressing 'surprise' over the meeting called by the state government, the association said: "It is unreasonable to talk about cane reservation when basic issue of rationalised cane pricing policy is yet to be resolved."

Faced with cash-crunch, the private sugar mills in the state have been demanding linking of sugarcane price with sugar rates and announcement of financial assistance of Rs 9 per quintal for payment of cane price for 2013-14 season.

"Calling the suspension notice a threat by the sugar mills is not only unfair but also ignoring the realty and the gravity of the situation. The sugar mills in UP have been continuously losing money in last few years, have not been able to cane price to the farmers on time and several of them have become sick and/or defaulters of banks across the country," the statement added.

The UPSMA has also appealed to both state and centre governments to quickly intervene and resolve the issue for adoption of rationalised cane pricing policy so that the maintenance work can start and bank loans could be arranged to ensure mills could plan to start their crushing operations.

Meanwhile, the Uttar Pradesh government today decided to provide an additional rebate of Rs 6 per quintal to the sugar mills on clearing cane dues to farmers latest by September 30.


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