Abhishek Securities

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The Reserve Bank of India  today said that Tata Sons  has withdrawn its application  for a new bank licence.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 u...

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 . Emai...

  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 ...