Abhishek Securities

CRISIL Ratings has assigned a stable outlook to Tata Sons' Rs 630-crore non-convertible debenture (NCD) issue, said the media report. It also maintained the 'outstanding' rating on the company's debt programmes and bank facilities at 'CRISIL AAA/FAAA/Stable/CRISIL A1+.' The stable outlook for the NCDs reflected Tata Sons' financial flexibility as the principal holding company of the Tata group, the agency said in a release. "CRISIL believes Tata Sons' business risk profile will be increasingly dependent on the success of its investments, which carry risks associated with implementation and integration," it said. The rating agency may revise its outlook to 'negative' if Tata Sons' financial flexibility is adversely affected, especially in case of larger-than-expected investments, added the media report. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For la

 A government official has been sentenced to five years in jail by a Delhi court for accepting a bribe of Rs two lakhs from a scrap metal firm to favour it in allotment of lots during e-auction of metal waste.  Special CBI Judge Sanjeev Jain awarded the jail term to 57-year-old Samir Kumar Ghosh, who was Senior Manager with MSTC Limited here, after holding him guilty under the various provisions of Prevention of Corruption Act.  Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

CRISIL Ratings has assigned a stable outlook to Tata Sons' Rs 630-crore non-convertible debenture (NCD) issue, said the media report. It also maintained the 'outstanding' rating on the company's debt programmes and bank facilities at 'CRISIL AAA/FAAA/Stable/CRISIL A1+.' The stable outlook for the NCDs reflected Tata Sons' financial flexibility as the principal holding company of the Tata group, the agency said in a release. "CRISIL believes Tata Sons' business risk profile will be increasingly dependent on the success of its investments, which carry risks associated with implementation and integration," it said. The rating agency may revise its outlook to 'negative' if Tata Sons' financial flexibility is adversely affected, especially in case of larger-than-expected investments, added the media report.

Essar Steel, JSPL and state-run KIOCL have evinced interest in participating as the partner in the Rs 2,200-crore joint venture between NMDC and RINL for setting up a 450-km slurry pipeline and a pellet plant. “It is understood that Essar Steel, JSPL and KIOCL responded against the Expression of Interest issued by NMDC for joining as the third partner in the project for slurry pipeline and pelletisation Plant,” a highly placed source in Steel Ministry told PTI. Rashtriya Ispant Nigam Ltd and iron ore producer NMDC, two state-run firms under the administrative control of the Steel Ministry, in May last had year singed a MoU for the proposed equal venture to make it a win-win for both. However, NMDC later wanted to induct a third partner and entrusted with the job of operating the project and give it some equity stake. The slurry pipeline that would run between Jagadalpur in Chhattisgarh to Visakhapatnam in Andhra Pradesh would be used to transport iron ore. The pellet plant wo

As part of financial inclusion initiatives and on the occasion of the bank’s 94th foundation day today, Catholic Syrian Bank has opened 11 rural branches. According to the bank’s Managing Director & CEO, Rakesh Bhatia, the bank contemplates opening more rural branches in the current financial year. All branches including rural branches are fully computerized and core banking /ABB enabled branches. They also assist to open Aadhaar-linked accounts facilitating customers to receive various government subsidies and other benefits under various welfare programmes. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

The Reserve Bank of India  today said that Tata Sons  has withdrawn its application  for a new bank licence. After Videocon, Tata Group is the second conglomerate to withdraw its application. Tata Sons has indicated that its current financial services operating model best supports the needs of the Tata Group’s domestic and overseas strategy, and provides adequate operating flexibility to its companies, while securing the interests of the Group’s diverse stakeholder base. Given Tata’s track record and the fact that people would ideally trust their money with such a large conglomerate, it is surprising that the Tata Group is exiting the race for a banking licence. Capital coming in from large corporates was seen as a positive for the sector. But now with such a large conglomerate exiting from the race, the shape of banking reforms is changing, said Ashwin Parikh of E&Y  in an interview with CNBC- TV18. Moreover, unlike many countries, permission for setting up banks isn’t given easi

Gujarat NRE Coke, the largest independent producer of met coke in India, dropped 20% on Wednesday (27/11/2013) . Shares of the company are trading at Rs 8.44, down Rs 2.1, or 19.92% at the Bombay Stock Exchange (BSE) on Wednesday at 2:35 p.m. The scrip has touched an intra-day high of Rs 10.70 and low of Rs 8.44. The total volume of shares traded at the BSE is 1,108,284. In the earlier session, the shares declined 10.22%, or Rs 1.2, at Rs 10.54. Currently, the stock is trading at all time 52-week low, which is below 64.54% over the 52-week high of Rs 23.80. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Indian telecommunications company Bharti Airtel may sell its $1.8 billion-valued Africa tower business, to reduce debt of about $9.69 billion. Airtel which incurred most of its debt from the $10.7 billion acquisition of Zain Telecom’s Africa business in 2010 has received offers from Helios, ATC, Eaton and HIS to buy its telecoms tower business. The offers received are for the complete tower portfolio as well as parts of the portfolio. However, it is unclear whether prospective buyers will be able to buy out the whole arm or just part of it,” a source familiar with the development told India’s Business Standard. It was earlier reported that Bharti Airtel, which has 15,000 towers in Africa is considering transferring the tower business to its Indian tower unit Bharti Infratel. However, after announcing the company’s quarterly results last month, Bharti’s Group Chief Financial Officer, Sarvjit Singh Dhillon said that the company was not looking at hiving off its tower business

Sistema Shyam TeleServices Ltd. (SSTL), which operates its telecom services under the MTS brand in India, today announces its unaudited consolidated financial results for the third quarter ended September 30, 2013. Key Financial & Operational Highlights for the Third Quarter of 2013 Revenues in 9* operational circles remained flat Q-o-Q, due to seasonality. Consolidated revenues decreased by 2.2% Q-o-Q to INR 2,844 million (USD 45 million) due to reduced operating footprint. Blended mobileARPU for the quarter increased by 6.8%to INR 95 on account of increase in minutes of usage following improved quality of customer base. Minutes of usage increased by 11% to 363during the quarter (Q-o-Q). Success of SSTL's data strategy is evident with non-voice revenues contributing 34.5% of total quarterly revenues, the highest in the industry. SSTL's HSD services now cover over 500 towns across 9 circles. The Company's data card subscriber base for the quarter increased b

 A detailed audit by the  Comptroller and Auditor General of India  of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income tax  exemptions granted to them. Among them are at least two Tata trusts and a number of state cricket associations.  According to the CAG,  Jamsetji Tata Trust  and  Navajbai Ratan Tata Trust  together invested over Rs 3,000 crore in 'prohibitive modes', meaning  investments  that cannot be accepted as charitable in nature.  In the wake of the CAG audit, the government has initiated steps to recover over Rs 1,000 crore from the two trusts.  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Mobile-phone operator Sistema Shyam TeleServices Ltd. plans to invest $3.5 billion over the next 4-5 years to expand its network in India, its president and chief executive said Tuesday. "The company plans to invest mainly for rolling out (services in) new circles as well as for expanding our data services," Vsevold Rozanov told reporters at a news conference. Russia's Sistema JSFC owns 73.71% of Sistema Shyam while India's Shyam Group holds 23.79%. The remaining stake is held by some minority shareholders. The company plans to start mobile-phone services in Mumbai and Haryana service areas by Dec. 31, Mr. Rozanov said. It currently provides mobile services on the code division multiple access, or CDMA, technology in eight of India's 22 telecom service areas and had 2.1 million users at the end of September. On a sale of fresh shares to the Russian government, Mr. Rozanov said the company is awaiting the Indian government's approval. "However

Lux, the popular brand of inner and thermal wear has unveiled its new winter range and is ready with its Spring/Summer 2014 collection. It has come up with three popular varieties of thermals for winter under the brand: Lux Charger, Lux Cottswool and Lux Inferno. It’s also looking at expanding its retail presence throughout the globe and India. Plans to increase retail spread Lux  products are popular in the US, Africa, Middle East, Far East and a few European countries. An extensive expansion plan is in the pipeline to establish its presence across the globe. Lux products range from Rs 50 to Rs 1,500 and include men’s and women’s wear like vests, briefs, boxers T-shirts, track pants, shorts, bermudas, leggings, socks, camisoles, panties, thermals and woolens. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasa

  Tata  Motors Ltd is cashing in on the success of its Jaguar Land Rover Ltd (JLR) unit to borrow dollars as it refinances in the face of sliding domestic sales. India’s biggest carmaker hired banks to arrange a $500 million loan facility last week, the first international fundraising since its Jaguar unit sold a 10-year bond in January. The cost of insuring the debt of Tata Motors fell 44 basis points last month, the most of any Indian company, and compared with a 56 basis point drop for Jaguar and 34 for  Ford Motor Co.  Tata Motors debt-to-earnings ratio has been rising since 2011. The success of Tata Motors’ overseas luxury vehicle sales has boosted the company’s profit even as revenue from domestic brands slides. The offshore income streams make borrowing in dollars less risky for the car-making arm of Tata Sons Ltd, the country’s largest industrial group, as back-to-back increases in the Reserve Bank of India’s (RBI’s) benchmark rate make rupee financing more expensive. “

Telecom tower company Bharti Infratel, on Monday, reported a 12% rise in quarterly profit at Rs 277 crore on increase in sales from leasing mobile towers to service providers. In the corresponding quarter (July-September) last fiscal year, the company reported a profit of Rs 248 crore.     Bharti Infratel, which is majority owned by Bharti Airtel, reported revenue for the quarter at Rs 2,684 crore, a 5% increase as compared to Rs 2,556 crore for the same period last year, the company said in a statement.   “With regulatory environment in telecom sector showing signs of stabilizing and data revenues witnessing strong growth, the operators have started focusing on faster roll out of 3G networks. We expect this momentum to increase in coming quarters,” Bharti Infratel vice chairman and MD Akhil Gupta said.   Bharti Infratel’s business model remains robust and demonstrates significant incremental financial gains from increased sharing of its infrastructure, he added.    A

Thrissur based Catholic Syrian Bank (CSB) received shareholders nod for Initial Public offering (IPO) of shares. The Annual General Meeting of the Bank, held on Monday  approved the special resolution seeking approval for the IPO. The general meeting has declared a dividend of 15% to the shareholders. S Santhanakrishnan, chairman of the bank said that since implementation of Basel III regime and the transitional arrangement for the same has come into vogue, the bank is in the process for raising capital through preferential allotment basis subject to the regulatory approval. Bank’s Initial Public Offering of shares follows after completion of the preferential allotment of shares, he added. The current capital adequacy ratio of the bank is 12.29%. CSB is the only Kerala based bank which had not gone for public issue so far. All other banks, Federal Bank, South Indian Bank (SIB) and Dhanlaxmi Bank had made public, years back. For the public issue, the decision is to authorise the board

The Rs 400-crore contract signed by Otis Elevator Company (India) Limited with L&T Metro Rail (Hyderabad) Limited this year is the largest-ever to be bagged by any elevator company in the country, according Goldie Srivastava, communication director of United Technologies Corporation India Limited (UTC). Otis is a UTC company. The contract is for supply of 670 elevators and escalators, which will be installed in over 66 stations, workshops and other buildings to be built by L&T Metro Rail. Otis will also maintain the units for 10 years after the two-year warranty period. As far as Otis is concerned, this is the largest contract it has bagged world-wide so far for supply of elevators. The next biggest contract it had won was from Hangzhou metro line 2 in China in 2012 for installation of 349 elevators. It was the second time that the Hangzhou Metro Group had chosen Otis, after the installation of 264 elevators for metro line 1. Otis has the distinction of supplying elevators to

  Sistema Shyam Teleservices (SSTL), controlled by Russian conglomerate Sistema, today announced the commercial roll-out of '3G Plus' telecom network across all its circles.  The network is used to offer high speed data services. The company, which operates under MTS  brand name, also launched a hi-tech dongle priced at Rs 1,299, that provides data speeds of up to 9.8 Mbps.  The company had recently got the third carrier or slot in the 800 Mhz spectrum band from the Department of Telecom  (DoT) allowing it to launch third generation plus services. The telecom operator had won three slots of 1.25 Mhz each in 800 MHz band, used for providing CDMA services, for eight circles in the March auction for Rs 3,639 crore.  The  3G Plus  telecom network is based on Evolution-Data Optimized (EV-DO) Rev. B Phase II technology.  "The roll out is all set to make MTS India the first telecom operator in India to provide ubiquitous 3G plus network coverage across all its nine circles of op

Union Minister of Steel Beni Prasad Verma was handed over a dividend cheque of Rs. 23.72 Crore for the financial year 2012-13 by the CMD of MSTC, Shri S. K. Tripathi here today.   The Minister expressed his happiness over the company’s increasing profits and turnover. Shri Verma exhorted MSTC to diversify into e-auction of various other articles so as to establish a firmer market presence.   In the Annual General Meeting held on 27th September 2013, MSTC’s dividend was declared at 300% of the paid up equity capital for the financial year 2012-13.   MSTC registered a record Profit before Tax (PBT) of Rs.193 Crore during the financial year 2012-13, which is about 10% more than the previous year. The total volume of business during the year was Rs.25, 506 Crore. The company registered an increase in the company’s reserve by around 16%.   The Secretary, Ministry of Steel Shri G. Mohan Kumar was also present on the occasion. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 un

Hundreds of Gujarat NRE Coking Coal workers will walk off the job tonight if they do not receive a guarantee of at least one week's wages from the company. Late yesterday, CFMEU southwestern district vice president Bob Timbs said he had still not heard from Jindal representatives, who are effectively operating the Illawarra company following a shareholders meeting that gave them the chance to acquire majority control.Construction, Forestry, Mining and Energy Union (CFMEU) members voted on Friday to withdraw labour from the Wongawilli and Russell Vale mines if news of their long-overdue payment was not forthcoming by midnight today. Mr Timbs was hopeful a deal could be reached by today. However, there is a chance workers could still be left begging because Gujarat owes in excess of $8 million to the Australian Taxation Office, which has put a garnishee order on the company's bank accounts. Unless the order is lifted, payments made to workers could go directly to the A

Jindal Steel and Power Ltd (JSPL) has acquired a majority stake in Gujarat NRE Coking Coal, the Australian subsidiary of Kolkata-based Gujarat NRE Coke, which would enable it to secure resource supply and minimise risk in prices. The deal will enable JSPL acquire a majority stake of 53.63 per cent in Gujarat NRE Coke's Australian subsidiary through a deal that involves issue of convertible notes, placement of shares and option to acquire shares at a later stage. The deal was cleared by shareholders of Gujarat NRE Coking Coal in a general body meeting in New South Wales. "The deal with Gujarat NRE will give us an assurance in supply and price stability, which is why we are exploring opportunities outside India, as there is a shortage of resources in the domestic market," said Ravi Uppal, MD and CEO, JSPL. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecuritie

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