Dilip Chhabria likely to set up car manufacturing unit in Gujarat soon

Dilip Chhabria likely to set up car manufacturing unit in Gujarat soon




Dilip Chhabria’s stable - DC Avanti - could be manufactured in Gujarat in the coming years. Chhabria is planning to set up a customised car manufacturing unit near Ahmedabad which will redesign and modify mass market cars.

assembly plant is being set up at Talegaon near Pune that will have a capacity to manufacture 2,500 Avantis a year. We expect demand for Avantis to increase in the coming years and chances are that the expansion might happen in Gujarat. We are seriously thinking of Gujarat as the next step for Avanti,” said Chhabria on Wednesday.
The first DC Avanti is expected to be out by December. “We will be having the demo cars out for customers by October this year,” he said while announcing the inauguration of a DC Design showroom in Ahmedabad that will be opened for public on April 28. DC Design is a firm promoted by Chhabria.
The manufacturing unit in Gujarat will be in joint venture with the promoters of Abhidev Automotives Pvt Ltd who will provide the land and basic infrastructure to DC Design for the unit that is expected to come up by 2014. The new facility will focus on designing existing cars as per customers’ tastes.
Currently, DC Design has manufacturing facilities in Pune, Mumbai and Gurgaon which churns out 600-800 cars every year.

Scotts Garments Ltd : Company Profile, IPO Details, Issue size, Price and Lot size

Scotts Garments Ltd : Company Profile, IPO Details, Issue size, Price and Lot size





Incorporated in 1992, Scotts Garments Ltd is engaged in the business of garment manufacturing. In addition to manufacture superior quality garments, company also provides additional facilities such as embroidery, printing, dyeing and washing. Scotts Garments export their readymade knitted and woven apparel to international clients including Denmark, Gander Mountain – USA, S Oliver, Frankfurt, C&A buying, Germany etc.

Issue Detail:
Issue Open: Apr 25, 2013 - Apr 29, 2013
Issue Type: 100% Book Built Issue IPO
Issue Size: 10,506,954 Equity Shares of Rs. 10
Issue Size: Rs. 136.59 - 138.69 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 130 - Rs. 132 Per Equity Share
Market Lot: 100 Shares
Minimum Order Quantity: 100 Shares
Listing At: BSE, NSE

Company Contact Information
Registered Office :
481-B Peenya Industrial Area,
Peenya IV Phase,
Bangalore - 560058, Karnataka
Phone: 91-080-41179001/41179002
Fax: 91-080-28362452/41179007
Email: cs@scottsgarments.com
Website: http://www.scottsgarments.com

Jet Airways selling stake to Etihad for Rs 2,060 crore, deal struck at 31% premium over Jet's current stock price to bring down Naresh Goyal's stake to 51%, Latest stock Price of Jet Airways

Jet Airways selling stake to Etihad for Rs 2,060 crore, deal struck at 31% premium over Jet's current stock price to bring down Naresh Goyal's stake to 51%, Latest stock Price of Jet Airways



Jet Airways will sell a minority stake to fast-growing Abu Dhabi-based carrier Etihad Airways for Rs 2,060 crore (roughly USD 379 million) after months of negotiations.

India's largest airline by market share said in a brief statement to the stock exchange that its board approved the allotment to Etihad of 27.3 million shares at Rs 754.74 each on a preferential basis.

The price represents a 31.7 percent premium to Jet's closing share price on Tuesday . Indian markets were closed on Wednesday.

No other details were immediately available but two sources involved in the deal who declined to be identified said the shares would be newly issued, and would represent 24 percent of Jet's expanded share capital.

If completed, the investment would be the first by a foreign carrier into an Indian airline since the country relaxed ownership rules in September and allowed foreign carriers to buy up to 49 percent in local carriers, which are battling stiff competition and high operating costs.

The deal is subject to regulatory and shareholder approval.

No other details were immediately available. Officials from both Jet and Etihad did not have immediate comment.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

KTM 390 Duke review, Specification, Comparison with KTM 200, Test ride review

KTM 390 Duke review, Specification, Comparison with KTM 200, Test ride review



The KTM 390 Duke is undoubtedly one of the most highly anticipated launches in our country this year in the performance bike segment. With the speculated launch date drawing closer, excitement among Indian motorcycle enthusiasts is reaching fever pitch.

The big-single 390 is a naked, road going streetbike, produced at Bajaj's Chakan facility on the outskirts of Pune, India. Like the 200 Duke, the sporty 390 promises a lot on paper,

Still, there are several doubts being raised on whether it really makes sense to buy the KTM 390 when a cheaper alternative in terms of it smaller sibling, the KTM 200, is available.

One of the foremost debates revolve around the way the 390 is styled - it looks exactly the same as the 200 despite the fact that it would be offered in a different paint scheme and has been beefed up marginally in terms of size.

The 390 will be powered by a newly developed 375cc, single-cylinder, liquid-cooled mill capable of pumping close to 45PS of power and 35NM of torque.

These are numbers which an average two-wheeler enthusiast in our country has never experienced in a budget which makes the 390 Duke all the more desirable.

It is not just the power of the new bike that impresses but the manner in which the boffins at KTM have packaged the bike so beautifully.

For any motorcycle or car, the basic mantra for performance is power-to-weight ratio and this is a department where the 390 shines.

The new engine weighs a mere 39kg whereas the whole bike tips the scale at just 139kg (dry weight) which transforms to an impressive 340PS/Ton.

Apart from this for better handling, the 390 Duke is also fitted with superior performing Metzeler Sportec M5 tyres which are renowned for the grip they provide on wet and damp roads.

CLICK HERE TO CHECK MORE DETAILS FROM THE OFFICIAL WEBSITE

MindTree Q4 net jumps 14% to Rs 79 crore, Latest stock price

MindTree Q4 net jumps 14% to Rs 79 crore, Latest stock price



 Mindtree 's fourth quarter net profit tumbled 20 percent quarter-on-quarter (up 14 percent year-on-year) to Rs 79 crore.

Its revenue for the Jan-March quarter rose 4 percent sequentially (17 percent YoY) to Rs 612 crore. In Dollar terms, its revenue was up 3 percent QoQ (8 percent YoY) to USD 113 million.

It had a foreign exchange loss of Rs 15 crore in Jan-March, compared with a gain of Rs 14 crore in Oct-Dec.

Mindtree added 974 employees on a gross basis in the fourth quarter and as of March 31, had 11,591 employees. It had 232 active customers as of March 31 and USD 20 million customers increased to 5 (added 1 customer in Q4).

For the full year, Mindtree's net profit was up 55 percent to Rs 339 crore and revenue rose 23 percent to Rs 2,362 crore.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

AirAsia has tied up with Tourism Authority of Thailand and is offering Rs 5,000 Bangkok fare

AirAsia has tied up with Tourism Authority of Thailand and is offering Rs 5,000 Bangkok fare



AirAsia has tied up with Tourism Authority of Thailand offering cheap fares and discounts in over 15,000 shops and restaurants in Thailand. As a part of the campaign one way tickets from Chennai and Kolkata to Bangkok are being sold for Rs 3,500 and Rs 5,000 respectively. The sale offer is valid till May 5 and for travel between July and October end.

Tassapon Bijleveld, CEO of Thai AirAsia said, “We are so excited to be working with the Tourism Authority of Thailand by offering low fares to Thailand so travelers can save on airfare and splurge at the Amazing Thailand Grand Sale, where over 15,000 shops, restaurants, hotels  and services will be offering discounts of 10-80%.

CLICK HERE TO CHECK MORE OFFER ON AIR ASIA WEBSITE

Honda Cars India Ltd to export diesel engine components to Asian and European markets from India

Honda Cars India Ltd to export diesel engine components to Asian and European markets from India



Honda Cars India Ltd will export diesel engine components to Asian and European markets from India, besides lining up 3-4 new models of cars with diesel engines to boost its sales.

"We will export diesel engine components to Europe and South East Asian markets from India. This fiscal, the target is Rs 500 crore against Rs 332 crore registered in 2012-13," Honda Cars India SVP Jnaneswar Sen said here today at the launch of its new sedan, Amaze, in the city.

Sen said the company remains optimistic about the success story of diesel cars.

Though the decision to remove the subsidies on diesel by India took us by surprise but demand for diesel cars will continue, he said.

Sen said the four new models in compact SUV -- seven seater MPV, new Jazz and new City -- expected to be launched in the next 2-3 years, may be introduced with 1.5 or 1.6 litre diesel engines along with petrol variant..

Cairn India Q4 net profit down 23% at Rs 2563 crore QoQ, To pay dividend of Rs 6.5 per share, Latest stock Price

Cairn India Q4 net profit down 23% at Rs 2563 crore QoQ, To pay dividend of Rs 6.5 per share, Latest stock Price



Cairn India 's fourth quarter net profit fell by 23.4 percent quarter-on-quarter to Rs 2,563 crore, but rose 17.2 percent year-on-year.

Income from operations increased 2 percent QoQ and 19.5 percent YoY to Rs 4,363 crore in January-March quarter

Analysts on an average had expected net profit at Rs 2,670 crore on total income of Rs 4,327 crore during the fourth quarter.

Other income grew by 22 percent QoQ to Rs 222 crore in March quarter.

Cairn posted a foreign exchange loss of Rs 2.8 crore in fourth quarter as against gain of Rs 235.7 crore in previous quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 11 percent QoQ to Rs 2,892.4 crore and EBITDA margin declined quite significantly to 66 percent versus 76.2 percent QoQ.

The company decided to pay dividend of Rs 6.5 per share.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

India's largest carmaker Maruti Suzuki launched its new variant of Dzire "REGAL" to compete with Honda's Amaze

India's largest carmaker Maruti Suzuki launched its new variant of Dzire "REGAL" to compete with Honda's Amaze



Right after Honda introduced its much-awaited compact sedan Amaze, India's largest carmaker Maruti Suzuki has hit back with Regal, a new variant of its fast-selling Dzire.

The limited edition 'Regal' variant is priced at Rs 5.60 lakh (ex-showroom, Delhi), and is available only in petrol.

The Regal will come in a new serene blue colour option, a silver front grille, body-coloured electronically adjustable ORVMs (outside rear view mirrors) and rear parking sensor.Inside, the variant will feature leather upholstery and an "advanced" music system.

Regal is a five-year anniversary edition, and has been ready for a while, but the company wanted to time its release with the launch of Amaze.

A lot has been said about the DZire's attractive interior and dash layout compared to the Amaze's bland (though spacious) interior and the fresh additions in the Regal are further meant to bolster the Maruti's appeal.

Maruti Suzuki sold 15,000 units of Dzire a month in FY13, selling 1,69,571 units a year, and its sales hit a peak of 18,000 units in March this year.

Since its launch, the carmaker has sold close to 5.30 lakh Dzire sedans, and it still has a waiting period on some variants ranging 4-8 weeks. The company still has an order book of 40,000 Dzires.

Meanwhile, Honda is gearing up with a capacity of 5,000 units a month and has already got bookings of over 6,500 units, with the Amaze running into a waiting period of two months.

While the Petrol E variant will cost Rs 4.99 lakh, EX will be at Rs 5.24 lakh, S at Rs 5.62 lakh, VX at Rs 6.60 lakh, SAT at 6.62 lakh and VXAT at Rs 7.50 lakh.

Wipro Q4 profits up 16.7% at Rs 1,728.7 crore, Latest stock price

Wipro Q4 profits up 16.7% at Rs 1,728.7 crore, Latest stock price



The India's third largest software services exporter Wipro Ltd today reported 16.73 per cent increase in net profit to Rs 1,728.7 crore for the fourth quarter ended March 31, 2013.

The country’s third largest software services firm’s net profit stood at Rs 1,480.9 crore in the year-ago period.

The consolidated total income of the company rose by 13 per cent to Rs 9,613.1 crore for the January-March quarter in 2013-13 fiscal as against Rs 8,506.1 crore in the same period of 2011-12 fiscal, it said in a filing to the BSE.

For the fiscal year ended March 31, the company’s net profit rose by 19.07 per cent to Rs 6,635.9 crore from Rs 5,573 crore in 2011-12.

Revenues of the firm during the period rose by 17 per cent to Rs 37,685.1 crore from Rs 32,205.5 crore in the previous fiscal.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

Honda's cheapest bike 'Dream Neo' launched at Rs 43,150

Honda's cheapest bike 'Dream Neo' launched at Rs 43,150



Honda on Wednesday, 17th April launched a new motorcycle 'Dream Neo' in India's volume-driven commuter segment, priced at Rs 43,150, making it the company's cheapest two-wheeler in the country.

The company's wholly-owned subsidiary Honda Motorcycle & Scooter India's (HMSI) 110cc scooter 'Dio' was its lowest cost two-wheeler so far in the country at Rs 44,718.

"Dream Neo is Honda's next big leap towards creating deep inroads into the Indian commuter segment," HMSI President and CEO Keita Muramatsu told reporters here.

On the back of its new products and network expansion, HMSI aims to grow over 150 per cent in 100-110 cc motorcycle segment, he added.


The Dream Neo is priced at an aggressive Rs 43,150 (ex-showroom, Delhi). The Hero Splendor family has three models with an engine capacity of 97.2 cc – Splendor+, Splendor NXG and Splendor Pro - priced between Rs 42,250 and Rs 47,150.

Super Splendor tagged upwards of Rs 50,650 is trapped with a 125 cc engine. On an annual basis, Hero sells an average of over two million units of the four products in the Splendor family.


"Overall, we are confident of customer demand for Honda two-wheelers and eye 43 per cent growth with 39.3 lakh unit sales in FY'14," Muramatsu said.

Now one can apply online for PF transfer, withdrawals from July 1: Employees' Provident Fund Organisation, EPFO

Now one can apply online for PF transfer, withdrawals from July 1: Employees' Provident Fund Organisation, EPFO

Over 50 million subscribers of the retirement fund body EPFO will be able to apply online for transfer and withdrawal of their provident fund from July 1, a move aimed at speedy settlement of claims.

"We have decided to set up a central clearance house which will be operational on July 1. This will enable subscribers to apply online for settlement of the withdrawal and transfer of funds claims," EPFO's Central Provident Fund Commissioner Anil Swarup told reporters at PHD conference.

"The biggest problem faced by the subscribers is transferring their accounts on change of job. This central clearance facility will expedite the process", he added.

The facility will enable subscribes to track online the status of their applications for transfer and withdrawals.

However, the EPFO's ambitious plan to provide permanent account number to all subscribers would be possible by early next year.

"It would be done in 8-10 months. Since the process of providing permanent account number to all subscribers will take time, we thought of setting up central clearance house first," he said.

Under the new system, the onus of verifying the details of the PF account from previous employers would be on the EPFO. At present, employees have to get their applications verified from their employers for settlement of claims.

"The onus of getting the detail of the PF account verified from employers would be on the Employees' Provident Fund Organisation (EPFO) in the new online system for transfer and withdrawal claims," Swarup said.
src-ET

BNP Paribas Mutual launches an open ended dept scheme BNP Paribas 'Government Securities Fund'

BNP Paribas Mutual launches an open ended dept scheme BNP Paribas 'Government Securities Fund'



The new fund offer will open for subscription from April 18 and will close on April 29, 2013, a company statement said.

"This may be an opportune time to invest in BNP Paribas Government Securities Fund with the government aggressively trying to address the twin deficit issue leading to a continued trend of reduction in interest rates," Managing Director & Chief Executive Officer of BNP Paribas Asset Management Nikhil Johri said.

The new fund will invest in government securities issued by Central and state governments, the company said.

The fund house is part of the global network of BNP Paribas Investment Partners and currently manages assets of over Rs 3,700 crore by the end of last fiscal in the country.

ONGC surpasses TCS to become country's most valued firm, RIL maintains its third position

ONGC surpasses TCS to become country's most valued firm, RIL maintains its third position



State-owned energy major ONGC today became the country's most-valued company with market capitalisation of over Rs 2.86 lakh crore, surpassing Tata Group's software services company TCS.

At the end of the day's trade, ONGC commanded a market value of Rs 2,86,223 crore, the highest for any listed company in India. This is about Rs 2,289 crore more than Tata Consultancy Services' market capitalisation of Rs 2,83,934 crore.

Shares of ONGC ended 1.73% higher, while those of TCS dipped 0.58% at the end of day's trade.

Reliance Industries with a market capitalisation of Rs 2,52,968 crore is the third most valued company, followed by ITC (Rs 2,49,144 crore) and Coal India (Rs 1,89,017 crore).

Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time. This figure changes daily with the change in the stock price.

IndusInd Bank Ltd post net profit of Rs 307 crore for quarter ended in March 2013, Declares dividend of Rs 3 per share, Latest stock price

IndusInd Bank Ltd post net profit of Rs 307 crore for quarter ended in March 2013, Declares dividend of Rs 3 per share, Latest stock price



IndusInd Bank Ltd. reported fourth-quarter net profit of Rs.307.40 crore, rose from Rs.223.38 crore for the quarter ended March 31, 2012. Total income increased to Rs.2,190.66 crore from the Rs.1,773.07 crore in the corresponding quarter of the preceding year.

The bank recommended a dividend of Rs.3.00 per equity share of Rs.10 each for the fiscal year 2013, to be paid on July 01, 013.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

MRF's net profit rises by 40 percent year on year to Rs 210 crore, latest stock price

MRF's net profit rises by 40 percent year on year to Rs 210 crore, latest stock price

MRF  's net profit rose by 40.4 percent year-on-year to Rs 210.6 crore in the second quarter of financial year 2012-13, sending shares 4 percent higher.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 35.6 percent to Rs 444.2 crore from Rs 327.5 crore during the same period.

Operating profit margin improved by 440 basis points to 15.3 percent in January-March quarter 2013 as against 10.9 percent in a year ago period.

However, net sales fell by 3 percent year-on-year to Rs 2,904.8 crore in the quarter.

LATEST STOCK PRICE

YES Bank reported Q4 net up 33 percent at Rs 362.15 crore; declares 60 percent dividend, Latest stock price

YES Bank reported Q4 net up 33 percent at Rs 362.15 crore; declares 60 percent dividend, Latest stock price



 Yes Bank on Wednesday reported a 33.2 per cent rise in its net profit to Rs 362.2 crore in the fourth quarter ended March 31, 2013 on the back of higher core income.

Net profit of the bank was Rs 271.8 crore in the January-March period of the previous fiscal. For the entire 2012-13 fiscal, the bank's net profit grew by 33.1 per cent at Rs 1,300.7 crore, compared to Rs 977 crore in the previous fiscal.

Total income of the bank rose by 30 per cent to Rs 2,667 crore in the January-March quarter of FY13, compared to Rs 2,051.4 crore in the same period previous fiscal. "The bank has witnessed higher growth in the net interest income and improvement in the net interest margin with sound asset quality in the last quarter," Managing Director and Chief Executive Officer of Yes Bank Rana Kapoor told reporters after announcing the quarterly results here.

CLICK HERE TO CHECK THE LATEST STOCK PRICE

Reliance Industries, RIL Q4 PAT up 32% at Rs 5590 crore

Reliance Industries, RIL Q4 PAT up 32% at Rs 5590 crore



Mukesh Ambani Group's flagship company  Reliance Industries  (RIL) beat estimates and has reported 31.9 percent year-on-year jump in March quarter profit to Rs 5589 crore, boosted by higher other income and an improvement in gross refining margins (GRMs), which is partly offset by lower gas output from its flagship KG-D6 basin.

The firm's other income stood at Rs 7998 crore as against Rs 6192 crore.

RIL Chairman & Managing Director Mukesh D Ambani, said: “The growth in earnings was largely driven by strong and improved refining margins during the year.

Exploration and Production: Revenues tumbled 39 percent to Rs 1597 crore on declining output from KG-D6 basin. Production from the wells dropped to 20 million standard cubic metres per day from its peak of 60 mmscmd in 2010. The vertical's Ebit margins also declined  to Rs 28.8 percent from 36.5 percent YoY.

Refining and marketing: Revenues grew 2.2 percent to Rs 77872 crore as its Jamnagar refinery produced 68.5 million tonnes of crude at an average utilisation rate of 110 percent, compared to 109 percent YoY.Ebit margins also expanded to Rs 4.5 percent from 2.2 percent YoY.

Petchem division: Sales grew 3.5 percent to Rs 22158 crore. Ebit margin came down to 8.6 percent from 10.2 percent. The decrease is primarily due to lower margins and polyester fibre and yarn products.