Maruti Suzuki, Tata Power and Essar Oil may grab investors attention today ( Jul-25-2012 08:49 Hrs IST )
Swift, one of India's largest selling cars and a best-seller from the Maruti Suzuki India’s stable, will soon run out of stock as the company is not expected to revive production at the violence-hit Manesar plant, its sole manufacturing facility, any time soon. The development is likely to further increase the waiting period for customers, affect suppliers dependent on the car, and hit sales. Besides, the nation's biggest carmaker may have to bear the revenue loss of more than Rs 400 crore due to disruptions at its plant as its insurance claims is restricted to a meagre Rs 5 crore damage to plant. Maruti's Rs 16,213 crore of insurance cover with four insurers - Iffco Tokio General Insurance, Bajaj Allianz, National India and United India - does not cover the loss of production due to interruptions, but only damages to plant and machinery.Tata Power has started generating electricity from the second 525-MW unit of Maithon power project in Jharkhand. With the commissioning of the second unit, the coal-fired 1,050 MW Maithon Mega Power Project, located in Dhanbad, is fully operational. The first unit of 525 MW was commissioned in September 2011. Maithon Power, a 74:26 joint venture between Tata Power and Damodar Valley Corporation (DVC), has implemented the project. The project has been completed despite huge challenges such as availability and transportation of coal. Currently, Tata Power has an installed generation capacity of 6,099 MW. Apart from supplying to DVC, electricity generated from Maithon project would be provided to power deficit northern states.Private sector refiner Essar Oil will improve margin by at least $1 per barrel by switching the fuel at its Vadinar refinery in Gujarat from gas to coal. The company has abandoned plans to run the 20-million tonne refinery on gas-based power because of acute shortage of natural gas. The Vadinar refinery has a captive power plant that can produce 510 MW of electricity. With optimisation of the refinery and change in fuel, Essar is expecting to raise its gross refinery margin by $5 per barrel this year from $4.23 in the previous year. Besides providing cheaper power, the company’s coal-fired power plant will also supply steam, which will improve its gross refinery margin by approximately $1 per barrel. The refinery optimisation is expected to give us an additional $4 per barrel. Essar completed the refinery optimisation project last month by raising its capacity to 20 million tonne per annum.State-run gas utility GAIL India has signed an agreement to buy all natural gas produced by Oil and Natural Gas Corporation (ONGC) from its existing and new fields. GAIL will hold the exclusive marketing right of all gas produced by ONGC for a three-year period, which can be extended on mutual consent. The gas utility would also market some of the chemicals to be produced from the Dahej petrochemical complex being set up by ONGC Petro-additions, a subsidiary of ONGC. Also, GAIL, which owns 9,500 km of gas transmission pipeline network in the country, signed a Shareholders Agreement (SHA) for taking about 17 percent stake in ONGC Petro-additions (OPaL) which is building a petrochemical plant at Dahej in Gujarat.Country's largest software services firm Tata Consultancy Services (TCS) has partnered with Savvis for its 'BaNCS' suite of banking products to be offered on a cloud-enabled hosted environment in North America. US-based Savvis sells managed hosting and colocation services. With about 50 data centers in North America, Europe and Asia, it has about 2,500 business and government customers. As part of this agreement, the TCS BaNCS platform will be hosted on Savvis' enterprise-class infrastructure and will include solutions for core banking, payments and anti-money laundering (AML,) corporate actions and insurance. SEL Manufacturing Company has acquired a majority stake of 96.43% in SEL Ecochem. Pursuant to this acquisition, SEL Ecochem has become a subsidiary of SEL Manufacturing Company. SEL Ecochem is in the business of chemicals, acids, etc. SEL Manufacturing Company has over 40 years of experience in the textile industry. At present, it has facilities for manufacturing cotton yarn, combed yarn, knitted fabrics, knitted garments and terry towels.Mahindra & Mahindra (M&M) has launched its multi-purpose diesel van -- Maxximo Mini Van VX in Lucknow. Maxximo Mini Van VX -- the latest offering on the technologically superior Maxximo platform, comes with the first sliding door equipped with best-in-class comfort and safety features and powered by the advanced C2 CRDe fuel-efficient diesel engine. The diesel van is priced at Rs 3.68 lakh (ex-Showroom Lucknow). Mahindra & Mahindra is the flagship company of the Mahindra Group. The company’s core automotive and farm equipment businesses have grown into market leaders whose triple bottom line ethic is driving industry trends towards technological innovation, social responsibility, and constantly improving customer satisfaction. ITC's agri-business division flagged off e-Choupal more than a decade ago as an IT-driven marketing channel to align farm output with market demand. The agri-business arm, which runs the e-Choupal network, serves as the back-end source of raw materials that go into ITC's personal care products and packaged foods. The web-based e-Choupal network has now become a key driver for the FMCG business that comprises brands like Sunfeast, Aashirvaad, Vivel and Fiama Di Wills. The non-cigarette FMCG business pared down losses from Rs 349 crore in 2009-10 to Rs 297 crore in 2010-11 to Rs 195 crore in the last fiscal. e-Choupal is helping ITC build a strong relationship with the rural populace, which is one of the biggest growth drivers for the FMCG industry. e-Choupal enables ITC to source commodities at a much lower cost than competitors. This is because it buys directly from farmers, which eliminates intermediates and multiple handling, thereby reducing transaction costs.Commercial vehicle maker Ashok Leyland will raise about Rs 1,650 crore this fiscal as part of its capital expenditure plans. The Hinduja Group flagship company got approval from its shareholders at the 63rd Annual General Meeting. The company may raise the funding through QIP, or debentures. Their first product with Japanese auto major Nissan has come out, light commercial vehicle Dost. Ashok Leyland posted 22.39 percent decline in net profit to Rs 66.94 crore for the quarter ended June 30 2012 compared to Rs 86.25 crore registered in the same period last year.
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