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In big infra push, PM sets roads, rail, power targets Photo : http://nss.nic.in New Delhi, July 27, 2014: With the objective of boosting growth, Prime Minister Narendra Modi on Saturday met the secretaries of nine economic ministries to outline a plan to put infrastructure development in top gear over the next two years. At the meeting with the secretaries of roads and highways, civil aviation, shipping, power, telecom, railways, petroleum, coal, and industry, planning secretary Sindhushree Khullar made a presentation on targets for different sectors. She spoke of bottlenecks faced during the UPA regime and mooted the idea of a monitoring unit in the Planning Commission to remove these. She also stressed on swift, time-bound clearance of projects and easing of environmental norms to ensure projects take off, government sources said. “The focus of the presentation was speedy development of smart cities, ports, roads, special economic zones and corridors (like ...
PM Narendra Modi steps up focus on infrastructure, investment to boost economic growth New Delhi:, July 27, 2014: With his party dragging the focus from development to aggressive Hindutva, Prime Minister Narendra Modi, who made it clear that the country needs “toilets not temples,” is all set to step on the gas. On Saturday, he not only launched a portal to directly interact with people to get ideas on governance and development, he met top babus of the infrastructure ministries with an aim to give the desired boost to the ongoing projects. During his meeting with the secretaries of nine infrastructure ministries, Mr Modi deliberated on setting targets for 2014-15 and identifying key projects in sectors like road, power and railways. According to sources, Planning Commission secretary Sindhushree Khullar made a 15-page presentation on the performance of core infrastructure ministries in 2013-14 and deliberated on the targets suggested by the ministries for the current...
Prime Minister steps up focus on infrastructure Photo : India 272 New Delhi, Jul 27, 2014: With his party dragging the focus from development to aggressive Hindutva, Prime Minister Narendra Modi, who made it clear that the country needs “toilets not temples”, is all set to step on the gas. On Saturday, he not only launched a portal to directly interact with people to get ideas on governance and development, he met top babus of the infrastructure ministries with an aim to give the desired boost to the ongoing projects. During his meeting with the secretaries of nine infrastructure ministries, Mr Modi deliberated on setting targets for 2014-15 and identifying key projects in sectors like road, power and railways. According to sources, Planning Commission secretary Sindhushree Khullar made a 15-page presentation on the performance of core infrastructure ministries in 2013-14 and deliberated on the targets suggested by the ministries for the current fiscal. Since Mr Modi...
BlackRock Sees Revival as Roads Attract Tata: Corporate India Billionaires Anil Ambani and Ajay Piramal are joining the Tata Group in seeking distressed Indian road projects offered by debt-laden builders amid Prime Minister Narendra Modi’s plan to boost infrastructure spending. Photo : IBN Live Jul 24, 2014: Piramal Enterprises Ltd. (PIEL) is negotiating to buy six road projects valued at 20 billion rupees ($333 million), said Parvez Umrigar, co-head of its structured investment group. The $100 billion Tata conglomerate, which bought three road projects last year, and Ambani-led Reliance Infrastructure Ltd. (RELI) are looking for more. Modi’s pledge to spend $25 billion on roads, airports, ports and smart cities to unclog Asia’s third-largest economy and spur expansion is encouraging investors to buy stalled road and power projects. The highest interest rates among the region’s biggest markets and growth near a decade-low crippled the original builders, forcing them...
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WINNING STROKES: THINK DIFFERENT Photo : Wallpaper.imcphoto.net Genera Agri Corp Ltd hit another buyer freeze today at Rs.6.91 at the end of day, before closing at Rs.6.88. The scrip will reach Rs.9, in the next few trading sessions, as a pickup in seasonal rainfall tempered concern inflation will accelerate. Today, the diversified firm (Real Estate, Special Situations and Media & Entertainment) PVP Ventures Ltd was recommended a buy to the Premium Group Members at Rs.8.10-8.30, after the source based news said that the company is now almost DEBT FREE. The company is tentative to declare its results on the 2nd week of August, 2014, according to the sources, who refused to be named. After the board meeting, the FY14, annual report will be also be out. It is to be remembered that PVP Ventures Ltd owns 70-acres of land parcel situated in the heart of the Chennai and about 4 km from Chennai Central Railway Station. This land is under joint development with Unite...
Resurgere Mines and Minerals Ltd: Shareholding Pattern of June, 2014 quarter Please Click on the Photo to Expand We can clearly see, from the shareholding pattern of the company, that holdings of the promoters (and other large entities) have more or less remained same during the last two quarters. This puts to rest, the controversy spread by vested interest group/s that the promoters have allegedly sold their holdings. If the company starts mining in its BAUXITE mines in Maharashtra, then the scrip could even cross its book value. Moreover, this event is in stark contrast to its peer group company, SVC Resources Ltd, whose promoter holding has steadily decreased during the last few quarters; but surprisingly, the Re.1, Face Value share is still at Rs.2.59 (Rs.25.9, if we consider Rs.10, as Face Value) as compared to Rs.2.16 (Face Value: Rs.10 and not Re.1) of Resurgere Mines and Minerals Ltd. A notorious group is very active on the coun...
Kerala Blasters Sign Seven Players Photo : Telugu Cinema Thiruvananthapuram, 23rd July 2014: Kochi-based Kerala Blasters Football Club did brisk business on day one of the central domestic player draft for Hero Indian Super League at Mumbai on Tuesday signing seven players, including Indian internationals Mehtab Hossain and Nirmal Chhetri. Assistant coach Trevor Morgan was the kingpin for the Blasters and it showed with four out of seven players - Mehtab, Chhetri, Gurwinder Singh and Sushanth Mathew - drafted into the ISL team having played football for East Bengal FC when Morgan was the head coach there. Mehtab Hossain, Nirmal Chhetri, Godwin Franco, Gurwinder Singh, Ishfaq Ahmed, Sushanth Mathew and Sandesh Jhingan Mehtab was reportedly the highest valued Indian at Rs 35 lakh in the draft while 23-year-old Chhetri has already won nine caps for India. Ishfaq Ahmed, Sandesh Jhingan and Godwin Franco completed the line up for the club owned by Sachin Tendulkar an...
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Private companies may be permitted to commercially mine coal NEW DELHI, Jul 21, 2014: The Modi government will initiate the process of allowing private companies to commercially mine coal and end the state monopoly after the public offer of shares of Coal India Ltd (CIL), official sources said. "The new government is keen to allow private firms into commercial coal mining to increase supply of the fuel in the country. But we are not opening too many fronts at this moment. We will start discussions with stakeholders on commercial mining only after Coal India's public offer," a senior coal ministry official said. A roadmap to allow private commercial mining of coal will be prepared after an in-principle nod from all stakeholders is secured, he said. CIL has not been able to increase output to match the surge in demand although it has huge reserves of the fuel. The Tatas, Adani, Anil Ambani group and others have successfully mined coal in India or abroad, but t...
New report forecasts boost for India’s construction sector in 2015 Photo : Udaipur Times MUMBAI, JULY 22, 2014: India’s construction sector is forecast to grow at 7-8 per cent each year over the next decade. With the new government, the country is expected to see increased economic growth and the removal of barriers to foreign investment that will "spur demand for construction" over the coming 12 to 18 months, according to a report by international consultancy giant PwC. The report highlights how an estimated $1 trillion would be spent on infrastructure over the next three years to 2017. Stating that there would be increased investment in industrial projects by the government, the report has noted that it is the private housing sector that would be a key growth area. The total construction market in India for fiscal year ending March 2014 was $157 billion, an increase of $4 billion over FY2013. Infrastructure accounts for 49 per cent, housing and real estate f...
Infrastructure firms seek senior executives after two-year lull Firms seek to reduce debt, turn around projects and win new ones from an expected pick-up in infrastructure growth The Narendra Modi-led government’s plans to build a high-speed train network, 100 smart cities, dedicated freight corridors and airports in smaller towns are expected to help infrastructure firms, which are beefing up manpower for growth. Photo: Pradeep Gaur/Mint Mumbai, July 21, 2014: After two years mired in a slowdown, top and mid-tier infrastructure firms are looking to hire senior executives, as they seek to reduce debt, turn around projects and win new ones from an expected pick-up in infrastructure growth. Officials at executive search firms said they have been mandated to find suitable candidates for GMR Group, KEC International Ltd, Larsen & Toubro Ltd (hydrocarbon business), L&T Infrastructure Finance Ltd and SREI Infrastructure Finance Ltd, which have interests in power, road...
PMO to take stock of infrastructure projects this week NEW DELHI, Jul 22, 2014: For the first time, the Prime Minister's Office (PMO) will this week take stock of the targets set by each infrastructure ministry after the Narendra Modi government took charge. The Planning Commission, which has been tasked to prepare the presentation for all infrastructure sectors, has sought details from all departments. Sources said the first such umbrella meeting on targets for this financial year is crucial since the Prime Minister has already gone through individual presentations by each ministry and department. They added that ministries are likely to stick to their earlier targets, though a final call will be taken by PMO considering the achievable targets. Government officials said the road ministry is likely to submit that NHAI and the ministry would be able to award 8,500 km including 3,500 km on build, operate and transfer (BOT) mode despite the first set of three BOT pro...
Market Mantra Today's call : Genera Agri Corp Ltd (BSE Code: 590133) at Rs.6.58-6.59 hit the buyer freeze, in the mid-afternoon trade. The scrip has a book value of Rs.74.27 and EPS of Rs.3.11. The stock is expected to hit some more buyer freezes on the way to Rs.9. It seems the correction in IVRCL Ltd is over, and the scrip should move up after forming a double bottom. The book value of the shares of the company is Rs. 47.33, which is likely to improve in the coming days, as the company's CDR package has been approved and the government of India has decided to give more impetus to the Infrastructure (especially construction of roads and highways), sector. Allied Digital Services Ltd is slowly inching towards the 1st target of Rs.25. Today it touched Rs.21.45 and is now trading at Rs.21, up 2.92%. Resurgere Mines and Minerals Ltd (BSE Code: ) hit the buyer Freeze in NSE at Rs.2.20 and is slowly moving towards Upper Circuit in the BSE too; which i...
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Sebi draft norms for infrastructure trusts [ Editor : To encourage infrastructure development, RBI exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. In other words, "Banks can issue long-term bonds with a minimum maturity of seven years to raise resources for lending to long term projects in infrastructure sub-sectors," the Reserve Bank said. The central bank said it intends to "ease the way for banks to raise long term resources to finance their long term loans to infrastructure". To say it in simple terms: Reserve Bank of India (RBI) said banks would not have to maintain cash reserve ratio (CRR) or statutory liquidity ratio (SLR) and will not have to meet priority-sector lending targets for funds raised through bonds for extending credit to these sectors. Meanwhile, the Planning Commission secretary Sindhushree Khullar is scheduled to make a presentation this week on the perform...
Mining lease cancellation: Govt moves SC for transfer of cases The illuminated building of the Supreme Court of India New Delhi July 18, 2014: The Centre today approached the Supreme Court seeking its direction to transfer before it all cases arising out of mining licence cancellation that are pending in various high courts. Agreeing to hear the Centre's plea, a bench headed by Chief Justice R M Lodha issued notice to all the companies which have filed petitions in the high courts. The Supreme Court sought response from Corporate Ispat Alloys Ltd, JWS Energy Ltd (Jindal Thermal Power Company Ltd), Bhushan Power and Steel Ltd, Sainik Mining and Allied Service Ltd, Ultratech Cement Ltd, Jharkhand State Mineral Development Corporation, Jayaswal Neco Industries Ltd and Bihar Sponge Iron Ltd on transfer petition filed by the Centre. Courtesy : The Business Standard
Domestic and Indian Gold Rally Strong In H1 2014 Domestic and Indian Gold Rally Points to a Strong Second Half by Frank Holmes July 17, 2014: Earlier this week we reported that gold, defying expectations, is one of the best-performing commodities of the year so far. And now we’ve learned that gold bullion imports by India climbed a stunning 65 percent last month after the country’s central bank allowed more investors to buy foreign bullion. Imports rose to $3.12 billion in June from $1.89 billion this time last year. India is the world’s second-largest consumer of gold after China, accounting for approximately 25 percent of all gold consumption. Gold is the country’s second-largest import item after oil. This news comes closely on the heels of the recent election of Prime Minister Narendra Modi, whose Bharatiya Janata Party (BJP) seeks to loosen import restrictions and other government regulations that tend to stifle economic growth. The rally also coincides with th...
WINNING STROKES: THINK DIFFERENT Nitin Goenka and Mahdeep Kapoor Photo : www.sulekha.com Allied Digital Services Ltd, recommended today, to the Paid Service Members, at around Rs.20.60-21, today hit the upper circuits, in the closing trade. The scrip could be hitting non-stop upper circuits during the next few trading sessions. Resurgere Mines and Minerals Ltd, after a brief correction has again bounced back, hitting upper circuits today, in the BSE. Later it turned out to be only buyer. The punters are probably taking positions in the scrip before the much awaited start of operations in the company's bauxite mine in Maharashtra, post monsoon. If the mining really starts there, then the scrip would cross its book value of Rs.26.49. It is to be understood that in a BULL Market everything moves up, and I feel this scrip will also spurt ahead, considering that its peer group company SVC Resources Limited, with much worse fundamentals, is trading at Rs.22.60 (if we con...
Market Mantra Soha Ali Khan at the Goenka Diamonds' Launch Photo : Pinkvilla The markets moved in line with expectations yesterday, taking cues from strong global markets, and finding support 7440 levels. It closed with a gain of 72 points at 7526. Although it was a more or less choppy session yesterday, the last hour of buying pulled it to a high of 7535. This definitely gave more ammunition to the bulls. The bounce back of Nifty the support level of 7440 and the closing above 7500 shows buying interest at lower levels. Stay invested in Bank and Infrastructure stocks. Nifty is now trading at 7610, which is far above the resistance of 7580. Today's call : (i) Buy IVRCL Ltd at Rs.24.40, T--Rs.27.20, SL--Rs.21. Most of the infrastructure stocks will move up taking cues from the budget. (ii) Buy Marg Ltd at Rs.17.50, T--Rs.24, SL-Rs.15.50. In the recent budget the FM, has talked about strengthening the Shipping Sector. Also, the Finance Minist...
Business Offer: Digital Business Solutions Friends, it has been long that I have been associated with you, basically with regards to investments in Indian Stock Market, and other other miscellaneous issues. Since, 2006, this blog has been active, in giving information in this direction only, apart from touching other hot current affair topics, too, from time to time. In between, I made lot of friends, both in India and in overseas--regardless of caste, creed and colour. The advent of technology has made this possible, forgetting the barriers of time and distance. As a result, I was fortunate enough to have well-wishers and clients all over the globe, cutting across continents. When some of you call me-up on my cell and say, that "I have been following your Blog and Yahoo Group Posts, since the last 5-6 years"; it gives me immense satisfaction. However, I have now diversified into other fields too, apart from Stock Market and Real Esta...