| • Buy at | : | 375 |
| • Target | : | 400-410 |
| • Stop Loss | : | 350 |
| • Tenure | : |
Honda to launch 3 new models in India : BusinessLine
After a brief lull, Japanese carmaker Honda Motor Co Ltd is preparing for a big comeback into India’s passenger car segment.
On the anvil is the launch of three cars that will join the company’s existing portfolios by the end of 2014-15. One of them will be the much-anticipated Mobilio compact family van.
Talking to reporters from the Asian region on the sidelines of the Tokyo Motor Show, Honda Motor Co CEO Takanobu Ito and Yoshiyuki Matsumoto, President & CEO of Honda Motor India, said the company will launch the three cars in quick succession. The Mobilio, which will be most suitable for markets such as Indonesia, will also cater to the emerging utility vehicles segment in India, they said.
The Mobilio will take on the likes of the Maruti Ertiga, the Chevrolet Enjoy and the Nissan Evalia. The multi-purpose vehicle is based on the Brio platform and will likely be offered with both diesel and petrol engines.
The other two cars that would also be rolled out in the next few months are the new City and the Jazz models. While the fourth generation City will be launched in two weeks, the new Jazz will probably make it to showrooms by early 2015.
Besides, the company will look to expand its R&D team in India, with the objective of building a completely made-for-India and made-in-India car.
“We are aware that the Indian market is a very large small car market. The next Brio series or the next Jazz could be the small cars that might be developed locally for the Indian market. We want to identify the specific needs of the Indian customers. We do plan to complete a full-fledged R&D facility there for the purpose of doing local research and model development activity,” said Matsumoto, who is also the MD and representative of development, purchasing and production (Asia and Oceania).
Essentially, this means that Honda could launch a completely locally developed small car within three to five years.
A new version of the Jazz or the Brio that takes into account the price sensitivities and local preferences of Indian customers can be developed earlier than that.
Perhaps, Matsumoto’s confident comment – “Please keep your expectations high” – stems from the strong performance recorded by the new Amaze sedan, which has enabled Honda to take on the Maruti juggernaut.
Driven by the Amaze, Honda has nearly doubled its market share in India from about 2.8 per cent to about 5 per cent. Honda is targeting sales of 1.2 million cars from the Asia-Oceania region by 2016-17, with India contributing almost 300,000 units.
Honda Cars India can easily look at doubling of its current production capacity with the option of assembling cars at its second plant in Tapukara, Rajasthan. Its first unit is located in Greater Noida, Uttar Pradesh, with an installed capacity of one lakh units a year.
Courtesy : http://www.thehindubusinessline.com/companies/honda-to-launch-3-new-models-in-india/article5374796.ece
Article By : S. Muralidhar
Sell Sun Pharmaceutical Industries Ltd – 22/11/2013
| • Sell at | : | 574-575 |
| • Target | : | 560 |
| • Stop Loss | : | 580 |
| • Tenure | : |
Sell Tech Mahindra – 20/11/2013
| • Sell at | : | 1740 |
| • Target | : | 1690 |
| • Stop Loss | : | 1745 |
| • Tenure | : |
BHEL bags order worth Rs 1300 crore from NBPPL : Indian-commodity
State-owned heavy equipment maker, Bharat Heavy Electricals (BHEL) has bagged order worth Rs 1,300 crore from NTPC BHEL Power Projects (NBPPL), a joint venture between NTPC and BHEL for the supply and installation of the Steam Generator, Steam Turbine Generator and Electrics Package for the upcoming 500 MW Feroze Gandhi Unchahar Thermal Power Project (TPP).
BHEL’s scope of work in the contract envisages design, engineering, manufacture, supply and erection & commissioning of Steam Generator, Steam Turbine Generator and their auxiliaries; Electrics and Switchyard with associated Civil Works along with state-of-the-art Controls & Instrumentation (C&I). The order reinforces BHEL’s leadership status in the execution of thermal power projects involving supply of state-of-the-art equipment, suited to Indian coal and Indian conditions.
More than 100 numbers of 490-600 MW rating thermal sets have been contracted by BHEL in the country so far, of which 45 sets have been contracted for projects of NTPC and its JVs. On commissioning of the unit, 12 million units of electricity will be added to the grid, every day.
BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower. Significantly, the company has established the capability to deliver power plant equipment of 20,000 MW per annum.
Courtesy : http://www.indian-commodity.com/corporate/bhel-bags-order-worth-rs-1-300-crore-from-nbppl.aspx
Vedanta commissions world’s first red mud powder plant : MoneyControl
Vedanta Aluminium Ltd (VAL) has commissioned a red mud powder producing unit at Lanjigarh refinery in Odisha, describing it as first of its kind in alumina industry tackling major environmental hazards. “The unique project of producing red mud powder has been commissioned in a fully mechanised and automatic plant. The system has been developed in-house after continuous research for more than three years,” a senior company official said in a statement today. Giving details of the project, Mukesh Kumar, president and COO of VAL said the project which was commissioned last week is the first of its kind in the world and has been set up with a capital expenditure of around Rs 50 crore. This will have advantages like savings in caustic consumption by 10-15 kg per tonne of alumina, minimising land requirement by 50 to 60 per cent, and doing away with wet red mud storage thereby eliminating environmental hazards, he said. The powdery red mud can easily be utilised in cement industry as well as in other Industries, Kumar said. Red mud is a waste from alumina industry and its disposal and utilisation has always been a matter of concern for environmentalists as well as alumina industry. Also read: Vedanta aims to triple capacity despite alumina shortage Although, the alumina technology is more than 100 years old but no solution could be evolved by the industry to avoid storage of red mud slurry, sources said. As the slurry is alkaline in nature and its generation is nearly one and a half times of alumina, world over millions of tonnes of red mud is lying in various red mud ponds except in some countries where it is discharged into the sea. In any alumina refinery, a major portion of land is used for handling this waste. Although, red mud is rich in iron and titanium, no use could be made till now mainly due to presence of caustic soda. Looking into the serious nature of hazard such red mud ponds may have, MoEF has formed a special project only few months back as National Mission for Red Mud to sponsor and promote research in red mud utilisation, sources said.
Financial Tech up 11% on stake sale in SMX : MoneyControl
Shares of Financial Technologies rallied 11 percent in early trade on Tuesday after the company sold 100 percent stake in Singapore Mercantile Exchange (SMX) for USD 150 million. The rally in shares is in addition to 20 percent upmove seen in previous session. Financial Technologies Singapore Pte Ltd, (FTSPL), a wholly owned subsidiary of Financial Technologies (India) (FTIL) announced “the sale of 100 percent of its equity ownership in SMX (together with its wholly owned subsidiary SMX CC) to ICE Singapore Holdings Pte Ltd, an entity owned by the Intercontinental Exchange Group, Inc. (NYSE: ICE) for USD 150 million.” FTIL says it will primarily utilise the amount towards repayment of outstanding debt towards external commercial borrowings (ECB) and foreign currency loan (FCL) to banks. “The company will become debt-free post Singapore bourse stake sale,” FTIL said in its filing to the BSE. However, the money from SMX stake sale will not be used to repay NSEL investors, reports CNBC-TV18 quoting sources. At 09:47 hours IST, the stock was trading at Rs 191.95, up 5.87 percent while Multi Commodity Exchange of India gained 2 percent to Rs 523 on the BSE.
Sell Lupin – 19/10/2013
| • Buy at | : | 875 |
| • Target | : | 860 |
| • Stop Loss | : | 880 |
| • Tenure | : |
NSE BSE change Muharram holiday to Nov 15 2013
The National Stock Exchange and the BSE will be closed on November 15 on account of Muharram.
The bourses had previously declared November 14 a trading holiday.
The exchanges revoked the earlier circular and said, “November 14, 2013, shall be a trading day and November 15, 2013, shall be a trading holiday.
“Trading on November 14 shall be as per the normal market timings.”
Europe stocks rise as gold, emerging currencies fall on US Fed stimulus
Most European stocks rose, German bonds gained and gold fell for a third day, approaching a three-week low. Emerging-market currencies weakened after US data damped optimism for extended Federal Reserve stimulus and a typhoon swept across the Philippines.
The Stoxx Europe 600 Index added 0.2 per cent to 323.21 at 6:15 am in New York. Standard & Poor’s 500 Index futures gained less than 0.1 per cent, erasing earlier losses. The Germany’s 10-year bond yield dropped two basis points to 1.74 per cent. The Indian rupee sank 1.3 per cent. The Philippine peso lost 0.9 per cent and stocks in the nation fell the most in six weeks. Gold slid 0.3 per cent to $1,284.59 an ounce. Brent rose for a second day after talks to curb Iran’s nuclear programme ended without a resolution.
US payrolls rose by almost twice as much as economists projected, according to a Labor Department report on November 8. Data the following day showed China’s industrial production unexpectedly accelerated. Super Typhoon Haiyan headed for Vietnam after killing as many as 10,000 people in the Philippines.
“Markets are going to be worried about how quickly the US is going to start removing some of its stimulus program, but I think overall economic data are being supportive of equity markets,” said Stephen Halmarick, head of investment markets research in Sydney at Colonial First State Global Asset Management, which oversees about $160 billion.
BSkyB slides
More than two shares gained for each one that fell in the Stoxx 600, which has risen for the past five weeks. Volume was 13 per cent below the 30-day average. Lonmin Plc rallied 6.7 per cent as the world’s third-largest platinum producer reported profit that exceeded analyst estimates.
British Sky Broadcasting Group Plc, which has aired top English soccer games since the Premier League’s inception in 1992, retreated 11 percent for the biggest drop in two years as BT Group Plc (BT/A) won the rights to broadcast UEFA’s Champions League and Europa League tournaments.
RSA Insurance Group Plc sank 9.9 per cent after suspending three top executives at its Irish unit and saying 2013 results will miss projections.
The Philippine Stock Exchange Index fell 1.4 per cent, the most since September 30. The peso traded at 43.585 per dollar, the lowest since September 17 on a closing basis.
Typhoon Haiyan was located 156 kilometres (97 miles) east-southeast of Hanoi, according to the US Navy Joint Typhoon Warning Center at Pearl Harbor. Vietnam’s VN Index gained 0.5 per cent.
The Hang Seng China Enterprises Index of mainland companies listed in Hong Kong rose for the first time in five days, adding 1.9 per cent. China’s industrial production increased 10.3 per cent last month from a year earlier, the nation’s statistics bureau said November 9, exceeding the 10 percent median estimate in a Bloomberg survey of economists.
Thai protests
The Thai baht dropped 0.4 per cent per dollar. Police tightened security around the nation’s parliament on concern protesters will gather during an amnesty vote on Monday.
“Some local factors like the typhoon and the political problems are short-term negatives,” said Yuji Kameoka, chief currency strategist in Tokyo at Daiwa Securities Co, Japan’s second-largest brokerage. “The improved US data boosted appetite for the dollar as that probably led to some speculation the Fed’s tapering will begin sooner.”
The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 major currencies excluding the yen, fell 0.3 per cent to the lowest level since October 1. The US currency was little changed against the yen, at 99.08. It slipped less than 0.2 per cent to $1.3390 per euro.
Fed stimulus
Economists still forecast the Fed will delay tapering asset purchases until March even after non-farm payrolls data beat forecasts. Policy makers will probably pare the monthly pace of bond buying to $70 billion at their March 18-19 meeting from the current pace of $85 billion, according to the median of 32 estimates in a Bloomberg survey November 8. The median forecast in an October 17-18 survey of 40 economists also called for a cut to $70 billion in March.
The S&P GSCI gauge of 24 commodities advanced 0.2 per cent, as Brent, gasoline and natural gas climbed. International Atomic Energy Agency chief Yukiya Amano is leading inspectors to Tehran for negotiations after Iran’s talks in Geneva with the United Nations Security Council and Germany ended without an agreement on curbs to Iran’s nuclear program, keeping supply limits of oil from Iran.
Brent Gains
Brent crude advanced 0.5 percent to $105.66 a barrel. U.S. natural gas gained 0.2 percent, the fifth consecutive advance and the longest streak since March. Colder-than-normal weather will blanket Chicago to New York through Nov. 17, according to the U.S. Climate Prediction Center in College Park, Maryland. About 49 percent of U.S. households use natural gas for heating, government data show.
The euro strengthened 0.2 percent to $1.3394. Italy’s 10-year yield dropped two basis points to 4.12 percent and Spain’s declined two basis points to 4.09 percent. The U.S. government bond market was closed for Veteran’s Day.
Portugal’s government bonds rose after the nation’s rating outlook was revised to stable from negative by Moody’s Investors Service on Nov. 8 amid an improving fiscal position and economic outlook. The 10-year yield fell 10 basis points to 5.85 percent, after reaching 5.79 percent last week, the lowest since June.