·World Bank likely to disburse $500 million to Power Grid
As per media reports, the World Bank is likely to disburse $500 million to the Power Grid ( PGCIL) for strengthening solar transmission – positive for PGCIL and T&D EPC players like Kalpataru power and KEC International.
·RBI leaves key rates unchanged. Slashes SLR by 50 bps
After surprising the market by 25 bps repo rate cut recently, the RBI maintained status quo on policy rates till the Union budget is announced (28 Feb 2015). Having cut its policy interest rate just three weeks ago, the Reserve Bank of India (RBI) as expected kept rates steady at a policy review on Tuesday, leaving its next move until after the government presents its annual budget at the end of this month. Repo rate at 7.75%, Reverse repo rate stays at 6.75%.CRR maintained at 4% of NDTL.
·Coal India records output of 46.60 million tonnes in January
Coal India, the world's largest miner of dry fuel, recorded an output of 46.60 million tonnes (targeted 50.09mn tonnes) in January, missing its target by 6.9% for the month. Sentimentally negative for Coal India.
·WPIL drops as Q3FY2015 operating margins decline
Shares of WPIL Ltd dropped 4% to Rs594 on BSE post Q3FY2015 as Operating and PAT level deteriorated, margins declined.Net profit declined by 57% YoY to Rs1.2 crore while net margin declined by 270 bps YoY due to decline in EBITDA by 19% YoY to Rs6.4 crore (mainly due to inventory loss).However, revenues de-grew by just 1% YoY to Rs55.9cr during the quarter.
·Aditya Birla Nuvo applies for Payment bank license
Aditya Birla Nuvo applies for Payment bank license with RBI in partnership with Idea Cellular. Aditya Birla Nuvo has applied for payment bank license with RBI in partnership with Idea Cellular, under which NUvo will hold 51% stake while 49% stake would be held by Idea cellular.
·Lupin consolidated Q3 net profit at Rs601 crore
Standalone: Net profit at Rs513.30 crore vs Rs533.38 crore (YoY).Total Income at Rs2406.03 crore vs Rs2430.56 crore (YoY).
Consolidated.Net profit at Rs601.45 crore vs Rs476.13 crore (YoY).Total Income at Rs3261.04 crore vs Rs3054.41 crore (YoY).
·Voltas plans to re-enter consumer durable space
Voltas, is planning to re-enter some of the brands in the consumer durable space, a move aimed at cutting its dependence on its traditional air-condition (ACs) and water cooler businesses in the white goods space. It may go for 2%-3% rise in room AC and air-cooler prices by this month. Positive read thru.
·Alstom T&D commissions substation in Anta, Rajasthan
Alstom T&D India has commissioned a substation in Anta, Rajasthan, that will help in more efficient evacuation of electricity from three power plants in the state. It will play a significant role in pooling and evacuating the power flow from the three major power plants in the state -- Kalisindh, Kawai and Chhabra - to the national grid. Positive read thru.
As per media reports, the World Bank is likely to disburse $500 million to the Power Grid ( PGCIL) for strengthening solar transmission – positive for PGCIL and T&D EPC players like Kalpataru power and KEC International.
·RBI leaves key rates unchanged. Slashes SLR by 50 bps
After surprising the market by 25 bps repo rate cut recently, the RBI maintained status quo on policy rates till the Union budget is announced (28 Feb 2015). Having cut its policy interest rate just three weeks ago, the Reserve Bank of India (RBI) as expected kept rates steady at a policy review on Tuesday, leaving its next move until after the government presents its annual budget at the end of this month. Repo rate at 7.75%, Reverse repo rate stays at 6.75%.CRR maintained at 4% of NDTL.
·Coal India records output of 46.60 million tonnes in January
Coal India, the world's largest miner of dry fuel, recorded an output of 46.60 million tonnes (targeted 50.09mn tonnes) in January, missing its target by 6.9% for the month. Sentimentally negative for Coal India.
·WPIL drops as Q3FY2015 operating margins decline
Shares of WPIL Ltd dropped 4% to Rs594 on BSE post Q3FY2015 as Operating and PAT level deteriorated, margins declined.Net profit declined by 57% YoY to Rs1.2 crore while net margin declined by 270 bps YoY due to decline in EBITDA by 19% YoY to Rs6.4 crore (mainly due to inventory loss).However, revenues de-grew by just 1% YoY to Rs55.9cr during the quarter.
·Aditya Birla Nuvo applies for Payment bank license
Aditya Birla Nuvo applies for Payment bank license with RBI in partnership with Idea Cellular. Aditya Birla Nuvo has applied for payment bank license with RBI in partnership with Idea Cellular, under which NUvo will hold 51% stake while 49% stake would be held by Idea cellular.
·Lupin consolidated Q3 net profit at Rs601 crore
Standalone: Net profit at Rs513.30 crore vs Rs533.38 crore (YoY).Total Income at Rs2406.03 crore vs Rs2430.56 crore (YoY).
Consolidated.Net profit at Rs601.45 crore vs Rs476.13 crore (YoY).Total Income at Rs3261.04 crore vs Rs3054.41 crore (YoY).
·Voltas plans to re-enter consumer durable space
Voltas, is planning to re-enter some of the brands in the consumer durable space, a move aimed at cutting its dependence on its traditional air-condition (ACs) and water cooler businesses in the white goods space. It may go for 2%-3% rise in room AC and air-cooler prices by this month. Positive read thru.
·Alstom T&D commissions substation in Anta, Rajasthan
Alstom T&D India has commissioned a substation in Anta, Rajasthan, that will help in more efficient evacuation of electricity from three power plants in the state. It will play a significant role in pooling and evacuating the power flow from the three major power plants in the state -- Kalisindh, Kawai and Chhabra - to the national grid. Positive read thru.
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