Abhishek Securities

C ountry's largest telecom operator Bharti Airtel   gained more than 3 percent on Tuesday after its subsidiary Bharti Airtel International (Netherlands) BV raised USD 500 million notes (additional notes). The company says it is in addition to the recently concluded transaction of USD 1,000 million 5.125 percent fixed rate senior unsecured guaranteed notes due 2023. Additional notes issued at a premium and priced at 100.625 percent to yield 5.044 percent will be consolidated and formed in a single series along with the USD 1,000 million 5.125 percent guaranteed senior notes issued on March 11, 2013. This is the largest ever telecom transaction out of Asia ex-Japan. "High participation by fund managers for an Indian Issuance and real money investor participation of 77% demonstrates the superior quality of the order book and the confidence the global investors have in the fundamentals and credit of the company," Harjeet Kohli, group treasurer of Bharti...

The Supreme Court today cleared the way for Sistema Shyam Teleservices (SSTL) to provide its services in eight telecom circles in which it was the lone bidder for the 800 MHz spectrum. "The applicant (SSTL) is entitled to continue services in eight circles," a bench comprising justices G S Singhvi and K S Radhakrishnan said. SSTL's counsel Vikas Singh said there was no other bidder for the CDMA service and the company participated in the second round of fresh auction after the Department of Telecommunication reduced the reserved price. Senior advocate P P Rao also informed the court that the auction has concluded and SSTL made the bid for eight circles and there was no competition. Sistema Shyam (SSTL) was the lone bidder in today's auction and it bid Rs 3,639 crore for eight circles in the 800 MHz spectrum range. The auction for 2G spectrum for GSM players held in November last year had fetched the government Rs 9,407 crore. SSTL said it won spectrum...

Odisha may miss April deadline to conduct iron ore e-auction on behalf of miners of the state as the  steel and mines ministry is undecided over the issue. The online auction conducting agency MSTC Ltd said it is ready with all necessary infrastructure and is awaiting the government nod. "As of now we have all necessary infrastructure ready to conduct the e-auction via our Kolkata office. We are awaiting government order to go ahead,” said an official of MSTC. In November last year , the state government decided to sell entire iron ore and manganese ore  produced in the state through online auction route by April 2013 by employing state-run miner Odisha Mining Corporation (OMC) as the canalizing agent in order to address the issue of raw material supply problems for domestic steel units. It has even constituted a committee comprising of cabinet ministers and headed by finance minister  to chalk out the modalities of the trading. The committee, whose te...

Tata Technologies has announced that it has setup its new Innovation Center in Troy, Michigan. The centre will leverage the local R&D talent pool to provide design and consulting services for automotive companies globally.  The 10,000 square feet facility will initially staff 60 engineering professionals and the company plans to increase the headcount to 100 by end of this year (December 2013). This compliments the Novi, Michigan NA headquarters and brings the total NA employee strength to 700+. The new Engineering and Innovation Center will be the North American home to the Tata Technologies Vehicle Programs Development (VPD) Group, headed by Mr. Kevin Fisher, President – VPD. The VPD Group is responsible for the development of the landmark eMO (Electric Mobility) EV study released at the 2012 North American International Auto Show in Detroit. The VPD Group currently supports automotive OEMs worldwide from its CoEs in Detroit, Coventry (UK), Pune (India), a...

Determined to ensure its on-going $1.9 billion fertiliser plant in Edo state is of world-class standard, the Dangote Group has appointed TATA Consulting Engineering as its management consultants for the project. The appointment of TATA came after the Pan-African Conglomerate signed the contract for the construction of the largest fertiliser plant in Africa with Saipem. President of Dangote Group, Aliko Dangote, while speaking on the partnership deal, said his company was poised to putting a place a global standard fertiliser plant which will help revolutionise agriculture in the country and Africa as a whole, adding that this informed his choice of renowned partners in the construction of the plant. According to him, the plant with a production capacity of 2,200 metric tonnes per day (MTPD) of Ammonia and 7,700 MTPD of granulated Urea (two 3,850 MTPD-capacity trains), will be the largest fertiliser plant in Nigeria, Africa. “Our ultimate goal is to build a worl...

  Temasek Holdings , Singapore's state-owned investment company, has invested Rs 140 crore in Bangalore-headquartered   cancer   care provider   HealthCare Global Enterprises   (HCG). The deal, which closed this week, values the company around Rs 1,000 crore, with HCG's founder and chairman BS Ajaikumar retaining a 26-28% stake, according to a person with direct knowledge of the deal. Temasek joins existing investors Premji Invest, an investment entity owned by Wipro chairman   Azim Premji , and Milestone Religare in a primary equity issuance by the company. "We are pleased to invest in this firm which has redefined cancer care in India," said Rohit Sipahimalani, who heads the India practice for Temasek. The investment firm's $157-billion portfolio counts   Bank of China , telecom firm Airtel and Singapore Airlines among its major companies. Temasek's investment in HCG has also paved the way for Dubai-based alternative investment house Evolve...

The Department of Telecommunications (DoT) has slapped a penalty of R s. 350 crore on Bharti Airtel for not stopping third-generation (3G) mobile data services through roaming pacts outside its licensed zones in seven circles. It has also asked the telco to stop 3G roaming services outside its licensed zones immediately. The DoT, in a notice, has also asked Bharti to file a compliance report within three days. Last year, the DoT sent show-cause notices to Airtel, Vodafone and Idea Cellular among others, asking them to stop providing 3G mobile data services through roaming pacts outside their licensed zones as it deemed the pacts "illegal". The government sold 3G airwaves in an auction in 2010 that attracted much higher bids than expected, and no single company managed to get spectrum for all of the country's 22 zones. The government passed an order, asking telecom companies to stop offering 3G services beyond their licensed circles or zones under m...

Thrissur-based Catholic Syrian Bank (CSB) is planning to double its business and increase net worth to Rs 1,100 crore from Rs 600 crore, said S Santhanakrishnan, its chairman. "We will be raising the net worth to Rs 1,100 crore with our initial public offering (IPO), rights issue and private placement," said Santhanakrishnan. On March 7, the bank has opened the rights issue to raise Rs 78.4 crore. "The rights issue will not only be fully subscribed, but will be over-subscribed," he noted. In addition, the bank will raise Rs 250 crore via private placement and Rs 500 crore via IPO. The bank's total business is expected to touch Rs 40,000 crore within a couple of years. CSB also intends to increase the number of branches from the current 390 to 500 within a few years' time. "We might need 1,000 young staff during the period, of which 500 will be hired immediately," Santhanakrishnan said. But, Santhanakrishnan is taking a very ...

Tata Power BSE 2.28 % is scouting for partners to pursue opportunities in the area of fuel cell technologies, as part of efforts to strengthen its presence in clean energy space. Fuel cells run on variety of fuels such as hydrogen, methanol and ethanol, and are also seen as a replacement for diesel generator sets. Tata Power, which has an installed generation capacity of about 8,500 MW, including 852 MW from renewable energy sources, said it is actively looking for fuel cell technology partners to pursue opportunities in the Indian market. " Tata Power is working on putting together a workable business model in place to seek technology partners for fuel cells," it said in a statement. These cells are considered as highly efficient and a good source of clean energy. According to the company, using hydrogen directly for fuel cells is a challenge since it involves cost and safety issues, among others. Besides, the company is evaluating new technology for f...

Tata Capital, the financial services provider from Tata Sons, is currently on the lookout for a media agency. The process began a couple of weeks ago and is taking place in Mumbai. The Lintas Media Group has handled the media duties for the brand since 2008. Leo Burnett is the creative agency on the account. The agency's latest work for the house loans arm of the company includes the print campaign, 'Kyunki yaadein ghar nahin badla karti', launched in December, 2012. Earlier, the company released a campaign in 2011, which conveyed the message that with Tata Capital's Home Loans, one can begin to feel the joy of owning a home. Another campaign for the brand came out in December, 2011, which asserted that 'We only do what's right for you' or 'Kare Vahi Jo Aapke Liye Sahi'. Launched in 2007, the brand is considered nascent in the category. The different financial services offered by the company include commercial finance, ...

Otis Elevator Company (India) Ltd is looking to cash in on the country’s infrastructure growth. The company is betting big on the upcoming 19 metro rail and 20 airport modernisation projects in India. By 2016, the domestic elevator market is expected to grow to 70,000 units from 45,000. While Otis will bid for the metro and airport projects, the vertical expansion of residential and office complexes will create additional opportunities. Otis, part of the US-based diversified United Technologies Company (UTC), is also expanding its Bangalore manufacturing unit. The capacity will be ramped up to 10,000 units from 3,500 units. Work is likely to be completed by August 2013. The company remained tight-lipped on the investments. “India is the second-largest elevator market in the world. There are issues in the economy. Real estate has been down with a year-on-year growth of 10 per cent, whi...

Shares of country's largest telecom operator Bharti Airtel   gained 1 percent on Friday morning as the foreign research house Credit Suisse keep an outperform rating on the stock with a target price of Rs 385. Credit Suisse expects the company's revenue per minute to surprise on the upside led by continued tariff hikes. India's top mobile phone carrier had raised voice call prices to account for rising costs in January 2013. The company had said in a statement it did not increase headline tariffs but reduced promotional benefits and free minutes offered to customers, adding that the price change was in line with the increase in its costs. Other positive news - According to Reuters, Bharti Airtel is looking to sell up to a quarter of its satellite TV services arm and is in talks with several potential suitors, two sources with direct knowledge of the situation said. India's top telecommunications carrier is looking at a valuation of little ove...

Farmington's Otis Elevator Co. is introducing a simpler, plug-in lift also capable of being powered by the sun, and has a backup battery in the event the power goes out. Otis s ays its trademarked Gen2 elevator is rolling out to customers in the U.S., Europe, India, South East Asia, and Central and South America. Otis claims the Gen2 consumes less energy and is up to 75 percent more efficient than traditional elevators. Otis is a division of Hartford conglomerate United Technologies Corp. 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 For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.in  . Visit :  www.abhisheksecurities.com  . Like us on facebook :  www.facebook...

Nasdaq OMX Group Inc ( NDAQ.O ) will form a marketplace for trading in shares of unlisted companies in a joint venture with small trading platform SharesPost Inc, tapping into increasing investor interest in private firms , in an effort to capitalize on the need for liquidity among companies that shun IPO s. Specific terms of the transaction were not disclosed, but the companies said Nasdaq will retain a majority stake in the new pre -IPO market. Dubbed the Nasdaq Private Market, the exchange is expected to launch later in 2013 and aims to provide another avenue for employees and early investors of still-private companies like Twitter and Pinterest to cash out. “The support of entrepreneurs is a fundamental element of our DNA,” Bruce Aust, executive vice president of Nasdaq, said in a statement. NPM will “provide private companies additional flexibility as they plan for their future and, at the same time, bring the investment community unique opportunities.” ...

Air Asia and Tata Group which have proposed to set up a domestic airline along with Arun Bhatia of Telestra Tradeplace, have sought approval for renting and leasing of aircraft, besides carrying of air freight. According to sources, in its application to the FIPB, the partners have also sought permission for engaging in ancillary activities. "Other activities for which they have sought permission include air transport carriers (of freight), cargo handling, renting and leasing of aircraft," a source said. The application for renting and leasing of aircraft, however, does not include financial leasing. The Malaysian budget carrier had sought the government nod to launch a new airline through a joint venture with the Tata Group and Bhatia. Air Asia CEO Tony Fernandes has said that the new airline may take to the sky by this year-end with 3-4 Airbus A-320s, and his company will initially invest around $50 million. An application has already been moved by Ai...

I t’s almost a year and half now since the Nadar community dominated TMB (Tamilnad Mercantile Bank) has been hinting about an IPO (initial public offering). Mr. Nagendra Murthy, Chief Executive, TMB said, "The paperwork & ground work is almost done. We are ready. But the timing can be decided only after the court sets the date for the AGM’. This 92 year old bank is in the meantime strengthening itself. With a paid-up capital of a mere Rs 28 lakh & reserves (excluding revaluation reserve) in excess of Rs. 1.634 crore, the bank has grown despite various constraints/controversies. TMB's shares (with face value of Rs. 10 per share) are said to be traded at over Rs. 55,000 per share in the grey market. Shares of TMB are available please contact the undersigned .  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 : 0983...

Kolhapur-based Ratnakar Bank today said it is aiming for a nationwide presence by the end of 2014-15 fiscal and hopes to grow at 35 to 40 per cent per annum, a top executive of the bank said here today. Vishwavir Ahuja, Managing Director and CEO of Ratnakar Bank, said by the end of the current fiscal the bank is expected to touch Rs 13,000 crore business mark. "By March 2015, I would say we would be reasonably pan-India. We are currently around Rs 12,000 crore in terms of business size. By March we may take it to Rs 13,000 crore. If we maintain disciplined growth in terms of our overall financial matrix, we would like to grow between 35 to 40 per cent per annum," Ahuja said at a press conference. The bank recently received approval to increase its foreign holding share from the current 43 per cent to 55 per cent. Last year, it partnered with Infosys to upgrade its core banking system to the latest version of Finacle and tied up with HDFC for home loan busine...

Union finance minister P Chidambaram in his budget 2013 has decided to levy a withholding tax of 20 % on profits distributed by unlisted companies to shareholders through buyback of shares. The move will deter unlisted companies opting for buyback of shares. Tax consultants Doshi, Chatterjee, Bagri & Co managing partner A K Doshi claims the move is an attempt to plug a loophole in the Income Tax Act. "Income Tax Act presently taxes dividend payout by both listed as well as unlisted firms at 16.5 %. However, distribution of dividend through buy-back of shares by both listed as well as unlisted companies attracts lower rate of tax or is not taxed at all. It is for this reason alone that the finance bill 2013-14 has proposed this amendment," Mr Doshi said. The move will bring about a parity between distribution of dividend and distribution of money by way of buyback of shares by unlisted companies. Rough calculations by tax consultants suggest tha...