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Issue 7, December 2012
MARKET UPDATE
Particulars - Rupee Dollar - Rupee Euro - Rupee Pound - Rupee Yen - Dollar Euro Domestic - BSE SENSEX - NSE NIFTY International - NASDAQ - DOW JONES - NIKKEI - HANG SENG Gold (Rs./10 gm) Silver (Rs./kg) Crude Oil Prices (Rs./bbl) Inflation (all commodities) 3010.24 13025.58 9446.01 22030.39 2977.23 13096.46 8928.29 21641.82 1.11% -0.54% 5.80% 1.80% 1.71% 5.78% 4.76% November October Change% Over Previous Month 0.89% 0.71% 0.16% -2.95% 0.23%
Foreign Exchange 54.44 53.96 70.44 86.88 0.657 1.296 69.94 86.74 0.677 1.293
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Commodity (MCX) 31459 30931 62547 4862 Inflation 7.45% (October) 7.81% (September) 59130 4641
CORPORATE HIGHLIGHTS
Vodafone India has signed an agreement with ICICI Bank to launch a mobile payment service, joining other telecom firms which have already launched such services. The service M-PESA, will be launched in Kolkata, West Bengal, Bihar and Jharkhand, and will then be rolled out to other parts of the country in phases.
Hero Eco Ltd, part of the Hero group, has tied up with Electrovaya of Canada, under which the Canadian company will work with Hero Eco to implement lithium ionpowered electric bikes for Heros markets in worldwide. Hero Eco the umbrella entity that includes Hero Electric, Hero Exports, Hero Cycles, Mediva, Winn and Hero Ecotech recently expanded its operations in Europe and North America through its overseas acquisition. Jumeirah Group, the global hospitality company and a member of Dubai Holding, has forayed into India with its maiden management agreement to operate a luxury hotel at Lower Parel in central Mumbai. The hotel is part of a major new development in the Lower Parel district of the city and is expected to open in 2017, the Dubai-based company said in a release.
Capital markets regulator Securities and Exchange Board of India (Sebi) has allowed mutual funds (MFs) to participate in the credit default swaps (CDS) market and in repo in corporate debt securities but with some riders. MFs, however, will be permitted to buy credit protection only to hedge their credit risk on corporate bonds they hold and are not permitted to enter short positions in the CDS contracts. PVR Cinemas announced that it will acquire 69.27 per cent stake in Cinemax India for Rs 395 crores. The deal once concluded will make PVR the largest movie exhibition chain in the country. Direct tax collections of Rs. 265417 crores have been made till 15th November, 2012 during the current financial year 2012-13. It is expected that the total direct tax collections for FY 2012-13 will exceed the collection for FY 2011-12. Insecticides India Limited (IIL), an agro chemicals manufacturer, has partnered with Oatsuka Agritech of Japan. The idea was to set up a R&D centre to invent new agro chemical molecules for global markets in the country. Under the JV, both the companies have agreed to establish a 4000 sqm research centre in Bhiwadi, Rajasthan. The stateof-the-art research centre will be first of its kind, employing both Japanese and Indian researchers under the same roof. Indian Railways subsidiary Ircon International, Chhattisgarh Government, and SouthEastern Coalfields (SECL), has signed an agreement to develop two rail corridors at a cost of about Rs 4,000 crores. The preliminary work on the corridors with a combined length of 4,000 kms, will start before the end of this calendar year. It will facilitate movement of passengers and freight, primarily coal. The Reserve Bank of India has allowed Small Industries Development Bank of India (SIDBI) to raise up-to USD 500 million per annum (about Rs 2,700 crores) through External Commercial Borrowing (ECB) to fund small and medium scale industry. PepsiCo Inc., the worlds second largest soft-drink maker, paidRs.396.8 crores to win the title sponsorship of the Indian Premier League Twenty20 cricket tournament for five years. Pepsi beat wireless operator Aircel which offered to pay Rs.316 crores, in the bid for the title sponsorship of the championship. IPL chairman Rajeev Shukla said that new title-sponsorship contract will end in 2017.
1. Which MNC pharma co is stirring up the insulin market with a pen called Allstar? 2. In the context of Indian banking what is CTS 2010 standard? 3. Which MNC owns Telewings? 4. Name the liquor baron behind the Wave group of companies?
CORPORATE RESULTS
(Rs. In Crores)
Company Name 30.09.12 Bajaj Electricals Ltd BHEL Crompton Greaves Havells India Ltd Hero Moto Corp Ltd LIC Housing Finance Ltd Hindustan Unilever Ltd IDBI Bank Ltd. 1,396.67 18,725.90 5,735.31 1,997.02 11,434.74 3,586.50 12,689.58 13,670.00 18,599.35 13,216.76 Net Sale 30.09.11 1,242.69 17,422.50 5,143.27 1,672.76 11,507.88 2,880.73 11,198.98 12,334.00 15,692.42 11,011.05 % Change 12.39% 7.48% 11.51% 19.38% -0.64% 24.50% 13.31% 10.83% 18.52% 20.03% 30.09.12 38.90 2,195.40 127.41 167.05 1,056.04 470.80 2,138.11 911.00 65,122.00 1,066.15 Net Profit 30.09.11 36.05 2,227.60 196.07 135.03 1,161.51 354.90 1,316.08 851.00 78,966.00 816.94 % Change 7.91% -1.45% -35.02% 23.71% -9.08% 32.66% 62.46% 7.05% -17.53% 30.51%
Dont be concern about the size of your cubicle. Someone will be along soon to make you feel small.
GLOBAL NEWS
Global Lenders Pledge $38 Billion to Eastern Europe: International lenders will support eastern Europe with more than 30 billion euros ($38 billion) in the next two years to shield it from the impact of the euro areas debt crisis, mimicking a plan they implemented in 2009.The European Investment Bank (EIB), World Bank and the European Bank for Reconstruction and Development (EBRD) in London has agreed on an action plan for the region. Under the plan, they will loan to and invest in private and public-sector projects including infrastructure, corporations and the financial industry. European banks urge one-year delay for Basel III rules: European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year to 2014 after U.S. regulators told lenders they did not expect the new regulations to take effect in 2013. The tougher rules, known as Basel III, are the world's regulatory response to the 2007-09 financial crisis and would force banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts. China manufacturing grows for first time in 13 months: the world's second largest economy is recovering from its deepest slump since the 2008 global crisis. Monthly Purchasing Managers' Index has improved to 50.4 for November, that was a moderate improvement from October's 49.5. It is the first time in 13 months that the reading has been above 50. The Chinese numbers are rare good news for the world economy, which has slowed as Europe's chronic debt crisis worsened and the American economy stagnated.
A valuation ratio of a company's current share price compared to its pershare earnings. PE = (Market Value of share / Earning per share) P/E is sometimes referred to as the "multiple", because it shows how much investors are willing to pay per dollar of earnings.
Mind Toggle Answers Sanofi Cheque Truncation System Telenor Ponty Chadha
Event Watch
INSIDE OUTISE MEGA SHOW Exhibition & Conference Venue: Netaji Indore Stadium, Kolkata Date: Dec 16 18, 2012 SUGAR EXPO Growing needs of global sugar industry Venue: IARI Ground, PUSA Campus, New Delhi Date: Dec 13 15, 2012
INDUSTRY WATCH
Indian Forging Industry
The Indian Forging Industry has emerged as a major contributor to the manufacturing sector of the Indian Economy. Forging is a manufacturing process where metal is pressed, pounded or squeezed under great pressure into high strength parts. They are normally component parts contained inside assembled items such as automobiles, tractors, ships, oil drilling equipment, aircraft, engines, missiles among others. The composition of the Indian forging industry can be categorized into four sectors - large, medium, small and tiny. A major portion of this industry is made up of small and medium units/enterprises (SMEs). Only about 7% is made up by the large enterprises in terms of number. Out of the 350 odd units the large sector consists of about 9-10 units, the medium and small sectors consists of about 140 units and under the tiny sector. As per industry estimates, out of the total turnover of the Indian auto components industry, around 60% is derived from sales to domestic OEMs, 25% comes from sales to the domestic replacement market and 15% is derived from exports. The Rs. 1,600 billion Indian auto components industry has been witnessing a moderation in its revenue growth following the deceleration in sales volume growth across all automobile segments. The Association of Indian Forging Industry (AIFI) president M Babu Rao said that demand from the automotive industry, which consumes about 60% of domestic forging industry's total production, has slowed down considerably and this is affecting the industry to a big extent. Hit by demand slump from the auto sector, the domestic forging industry is gradually reducing its dependency on the sector by diversifying into other segments. AIFI president said that they are trying to diversify and bring down the dependency on the automotive industry so that they don't get affected by its (auto sector) periodical and cyclical ups and downs. Besides this, the average margins have gone down by about 10% in last 8-9 months due to rise in input costs and increasing interest rates. Prices of carbon steel, which is used to make forgings, have risen by about 12% during the period, while fuel prices have also gone up considerably. The forging industry, which is aiming to achieve a production of 4 million tonne per annum by 2014, has also been hit hard by sluggish demand from the European markets and cheaper imports from China. While the long term prospects for the industry remain strong, the industry faces strong challenges in the form of threat of low cost imports, currency volatility and ability to invest on product development. Leading Players Performance Net sales for the period: Company Name Bharat Forge Mahindra Forg RamkrishnaForge MM Forgings Kalyani Forge LGB Forge FY' 2012 3,752.08 434.68 501.26 350.23 278.07 127.13
Rs. In Crores
Net Sale FY' 2011 2,993.55 358.44 409.69 272.12 235.73 127.55 % 25.34% 21.27% 22.35% 28.70% 17.96% -0.33%
Net profit for the period: Company Name Bharat Forge Mahindra Forg RamkrishnaForge MM Forgings Kalyani Forge LGB Forge FY' 2012 362.07 6.78 24.29 26.75 13.41 -5.3
Rs. In Crores
Net Profit FY' 2011 310.57 -3.18 22.06 29.73 6.44 -8.62 % 16.58% 313.21% 10.11% -10.02% 108.23% 38.52%