Havells India to buy Lloyd Electric`s consumer business for $231 million

MUMBAI - Havells India Ltd, a leading maker of lights and fans, has agreed to buy a unit of Lloyd Electric and Engineering Ltd that sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million), the companies said.

The deal, expected to close in eight weeks subject to final due diligence, will help Havells expand its reach into the $15 bil

NTPC`s Pakri Barwadih coal mine starts production

The state-owned power producer NTPC has started production from Pakri Barwadih coal mine in Jharkhand and the first rake of the dry fuel was flagged off. Finance Minister Arun Jaitley did the honours in the presence of Jharkhand Chief Minister Raghubar Das, Power Minister Piyush Goyal and Minister of State of Civil Aviation Jayant Sinha.

The mine has an estimated mining capacity of 15

Buy Apar Industries Ltd For Target Rs.762.00 - Emkay

* Apar reported a strong Q3FY17 earning growth which were above our estimate. While revenues declined 4.6% YoY to Rs 11.3bn; EBITDA went up 26.4% YoY to Rs 1.06bn and APAT increased 54.4% YoY to Rs 433mn

*Revenue declined across the conductors on account of processing of conductors for some parties (-12.5% YoY to Rs5.1 bn) and Speciality oil business due to lower realization (-11.7% Y

17/02/2017 3:22:09 PM | Posted in Broking Firm Views - Long Term Report read full news
Havells India dips over 2% on buzz over deal with Lloyd

Shares of Havells India fell over 2 per cent in early trade on the Bombay Stock Exchange after media report suggested that the company is in advance talks with Lloyd Electric and Engineering to acquire its consumer durables business.

Reacting to the news, shares of company declined as much as 2.2 per cent to hit an intra-day low of Rs 422.30 apiece on the Bombay Stock Exchange. In a s

Sell BHEL Ltd For Target Rs.115.00 - Motilal Oswal

BHEL

Results beat, but weak execution and order pipeline warrant Sell

3QFY17 performance above estimates: Sales increased 18.7% YoY to INR63.2b, exceeding our estimate INR60.5b. Power segment sales grew by 18% YoY to INR50.9b and Industry segment sales by 20% YoY to INR13.7b. Improved pace of execution was dri

16/02/2017 1:20:27 PM | Posted in Broking Firm Views - Long Term Report read full news
India, Nepal to build new cross border power lines: Reports

The Indian Government has said that in view of the various power projects being developed in Nepal, India and the Himalayan nation have agreed to lay down new cross-border transmission lines.

As per reports, in this regard, laying of new Butwal (Nepal)-Gorakhpur (India) and Lumki (Nepal)-Bareilly (India) transmission lines and setting up of new 400kV sub-stations at Dhalkebar, Butwal

Sell Power Grid Corporation of India Ltd For Target Rs.189.00 - Reliance Sec

Technical Research

* The stock is making lower tops on daily and weekly charts, after forming a high at 209 levels and it is facing continuous pressure in the past few days.

* The key technical indicators and RSI has also reversed turning downwards and the stock is in poised for a breakdown from current levels.

* The stock has close

15/02/2017 11:24:39 AM | Posted in Broking Firm Views - Short Term Report read full news
GVK Power December-quarter loss narrows

Leading Indian conglomerate GVK Power & Infrastructure Ltd on Tuesday reported a decline in it’s standalone net loss for the third quarter ended December 31, 2016. It’s net loss for the October-December quarter shrank to Rs 0.71 crore.

“The standalone net loss of the company stood at Rs 6.8 crore during the same period a year ago,” GVK Power & Infrastru

Reliance Infrastructure Q3 profit clocks 49% at Rs 375 cr

Anil Ambani-led infrastructure major Reliance Infrastructure Ltd (R-Infra) has reported a significant growth of 49 per cent in its consolidated net profit after taxes at Rs 374.85 crore for the third quarter ended December 31, 2016.

“The consolidated net profit of R-Infra clocked Rs 251.5 crore during the same period a year ago,” Reliance Infrastructure Ltd said in a filin

R-Infra Q3 net soars 49% at Rs 375 crore

Reliance Infrastructure (R-Infra) on Monday posted an impressive 49 per cent jump in consolidated net profit for the third quarter ended December at Rs 375 crore, as compared to the profit after tax of Rs 251.50 crore in the same quarter of 2015-16.

The company's total operating income during the quarter in consideration came in at Rs 5,815.69 crore, as against Rs 6,199.48 crore i

Power Grid sees huge opportunity in rly line electrification

The Indian Railways' plan to electrify 24,000 kms of railway lines in the next five years is a huge opportunity for state-run Power Grid Corporation (PGCIL) for providing its expertise through consultation as well as complete turnkey project development, a senior company official said as per the PTI report. PGCIL has already been awarded the contract to electrify 761 km of rail lines at a c

Crompton Greaves tanks nearly 7% post Q3

Shares of Crompton Greaves tumbled nearly 7 per cent on the Bombay Stock Exchange even after the company reported a net profit of Rs 95.73 crore in the December quarter of 2016, compared with net loss of Rs 95.73 crore in the year ago quarter.

Following the Q3 earnings, shares of company declined as much as 6.67 per cent to hit intra-day low of Rs 66.45 apiece on the Bombay Stock Exch

Buy Rural Electrification Corporation Ltd For Target Rs.155.00 - Reliance Sec

Technical Research

* The stock reversed taking support of its short-term moving average 20-day EMA.

* Turn around in RSI from its neutral line (placed around 50-mark) is indicating strength in the stock.

* As mentioned earlier, we believe the stock will continue its up-move and soon record fresh 52-week high.

* On the lowe

13/02/2017 10:56:43 AM | Posted in Broking Firm Views - Short Term Report read full news
Crompton Greaves posts net profit of Rs 36.81 cr in Q3

Crompton Greaves on Friday reported a net profit of Rs 36.81 crore in the quarter ended December 31, 2016, as compared to a net loss of Rs 95.73 crore in the corresponding period last financial year.

The company's gross sales for the quarter under review were at Rs 1,244.09 crore as against Rs 1,124.85 crore in the year-ago period.

It also reported that revenue from its

Suzlon Energy posts Q3 net profit of Rs 274 cr

Renewable energy player Suzlon Energy on Friday posted a consolidated net profit of Rs 274.34 crore for the third quarter ended December 2016.

"The group has posted a net profit of Rs 274.34 crore for the quarter ended December 31, 2016, as compared to net loss of Rs 121.84 crore for the quarter ended December 31, 2015," Suzlon Energy said in a stock exchange filing.

CESC to focus more on power distribution business

The RP-Sanjiv Goenka Group's flagship company CESC Ltd will be focusing on winning more distribution franchise, a top company official said on Friday.

Recently, the power firm won a power distribution franchisee for supply of electricity to Bikaner in Rajasthan in a very fiercely fought bid. Bikaner became the fifth city for power distribution for the company.

"Dist

Tata Power Q3 net soars 38%; Chandrasekaran named Chairman

Tata Power on Friday posted a 38 per cent rise in consolidated net profit at Rs 599.2 crore for the third quarter ended December 2016, mainly due to improved performance and a tax credit. On the day, the company's board also approved the appointment of N. Chandrasekaran as its new chairman.

"The group has posted a net profit after tax, minority interest and share of profit of

Hold Bharat Electronics Ltd For Target Rs.1,700.00 - Sharekhan

Key points

* Strong quarter:

After delivering strong Q2FY2017 results, Bharat Electronics (BEL) has reported yet another robust quarter, with beat across revenue, margins and net income levels. Revenue for Q3FY2017 grew by 37% YoY to Rs2,191.3 crore, led by improved order execution. Key orders executed durin

10/02/2017 12:00:45 PM | Posted in Broking Firm Views - Long Term Report read full news
Torrent Power plunges nearly 7% on weak Q3

Shares of Torrent Power tumbled nearly 7 per cent on the Bombay Stock Exchange after the company reported a 70 per cent decline in its consolidated net profit at Rs 106.66 crore for the December quarter of 2016 compared to Rs 359.08 crore in the year ago period.

Weighed down by Q3 earnings, shares of company declined as much as 6.84 per cent in intra-day trade to Rs 193.85 apiece on t

Buy Rural Electrification Corporation Ltd For Target Rs.155.00 - Reliance Sec

Technical Research

* The stock reversed taking support of its short-term moving average 20-day EMA and rose to four day closing high.

* Turn around in RSI from its neutral line (placed around 50-mark) is indicating strength in the stock.

* As per the current daily set-up, we believe the stock will continue its up-move and soon recor

10/02/2017 11:18:03 AM | Posted in Broking Firm Views - Short Term Report read full news
Buy JSW Energy Ltd For Target Rs.70.00 - Reliance Sec

STOCK IN FOCUS

* JSW Energy closed 1% higher in trade on Thursday.

* JSW Energy has lost more than 35% in last 12 months due to weak operational performance in line with our estimates. Considering the recent correction in stock price, we believe that the negatives relating to weak merchant realization have already been priced in.

*

10/02/2017 11:09:08 AM | Posted in Broking Firm Views - Short Term Report read full news
12,033 un-electrified villages have been provided with power: Minister

The Indian Government has said that as many as 12,033 villages out of 18,452 un-electrified villages have been provided with power till last week and the remaining ones would be electrified by May 2018. Commenting on the issue, Union Minister Piyush Goyal told the media, “4,220 Decentralised Distributed Generation (DDG) projects costing Rs 1,354.60 crore have been sanctioned till January

ABB India net up 13.5% at Rs 147 cr; to pay 200% div

ABB India today posted a 13.5 per cent jump in its standalone net profit at Rs 146.79 crore in the quarter ended December 31, 2016. The company had posted a net profit of Rs 129.4 crore for the corresponding quarter a year ago, ABB India said in a BSE filing today.

According to the statement, total income increased from Rs 2,435.89 crore for the quarter under review to Rs 2,501.07 cro

India Energy - Fundamentals sound – re-rating to continue - RCML

After a stellar outperformance in 2016, gas utilities continue to offer a structurally sound outlook, with key investment drivers playing out as expected: (a) low LNG prices are fuelling a spike in consumption, (b) pollution control measures are buoying CGD growth prospects, and (c) new LNG regasification capacities continue to augment supply. We initiate coverage on MAHGL with HOLD and reitera

9/02/2017 3:06:40 PM | Posted in Broking Firm Views - Sector Report read full news
Buy KEC International Ltd For Target Rs.170.00 - Reliance Sec

Aided by improved operating margins, consolidated PAT of KEC International (KEC) grew strongly by 139% YoY to Rs626mn in 3QFY17. However, its revenue dipped by 7.4% YoY due to lower T&D sales and delay in conversion of L1 orders. Strong order inflow so far this fiscal is in line with our estimates. This confirms our conviction that KEC would deliver strong growth in earnings, going ahead. T

9/02/2017 11:41:25 AM | Posted in Broking Firm Views - Long Term Report read full news