14-Mar-17
Quote of the Day : "Develop into a lifelong self-learner through voracious reading; cultivate curiosity
and strive to become a little wiser every day." Charlie Munger
Narnolia Securities Ltd
IEA Snapshot
Top News
ONGC Mgt Guideline : On the probable merger of oil Idea Cellular announced free incoming calls on domestic roaming and
manufacturing companies (OMCs), particularly the much talked unveiled international roaming value packs that, it claimed, would
about ONGC and HPCL , Company has not heard anything of prevent "bill shocks" to those travelling abroad
such sort from the government. There has been no meeting
with respect to such an integration. On the GDF stake sale in Coal India is likely to miss the production target by 20 MT and may
Petronet LNG, Srinivasan said that the promoters will not buy end up producing up to 578 million tonnes this fiscal due to a string of
any of it as the structure of the company is on a joint venture issues, including evacuation and demand-supply . Coal India may not be
basis, which would deviate. There might be a hit of around Rs able to meet the target as the PSU is facing a lot of issues. In Mahanadi
1,700 crore on the revenue due to royalty payment. Company Coalfields Ltd (a Coal India arm) there were serious problems like
expects Q4 average realisation to be over USD 50 per barrel. resettlement and rehabilitation (R&R).
NBCC has signed agreement with the Mauritius government Maruti Suzuki India commands nearly 50 percent of the passenger
and Landscope (Mauritius) Ltd for construction of new Supreme vehicle market in the country, has already started operations at its new
Court building on PMC basis in Mauritius. The approx value of plant in Gujarat as part of the plan to raise its total production to 2
the project is USD 35 million (Rs 250 crore) having completion million units by 2020.
period of 24 months.
Fund Action : RAP Enterprises LLP sold 23,967,870 shares of
Balkrishna Industries at Rs 1,309.78 per share on the BSE. However,
ACC sold its entire shareholding comprising 2,36,50,000
VKP Enterprises LLP bought 24,116,315 shares at Rs 1,309.78 per share
Equity shares of Rs. 2 face value representing 12.13% of the
on the BSE.
equity share capital in Shiva Cements Limited.
Alkem Laboratories said the US health regulator has Antique Securities Pvt Ltd sold 210,026 shares of Supreme Infra at Rs
inspected its Baddi plant and issued three observations on 88.50 per share on the BSE. However, Trishakti Power Holdings Private
account of violation of good manufacturing norms . The US Food Limited bought 210,026 shares at Rs 88.50 per share on the BSE.
and Drug Administration (USFDA) inspected the plant from
March 2 to March 10 and has issued an inspection report to the HDFC Trustee Co.Ltd A/C HDFC Midcap Opp Fund bought 2,439,000
company which contains three 483 observations shares of Mahindra Holidays at Rs 410 per share on the BSE
Canara Bank, which has been struggling to sell non-core PNC Infratech has sold its 26,500 shares equivalent to 76.50 per cent
assets to shore up its poor core capital, sold 13.45 per cent of paid up capital in its subsidiary PNC Power for Rs 15.10 lakh equivalent
its stake in its home finance arm Can Fin Homes to GIC of to 76.50 per cent of the paid up capital of the subsidiary company
Singapore for Rs 753.8 crore or USD 113 million.
Cairn liable to pay Rs 10,247 cr capital gains tax: ITAT . Tax IL&FS Transportation has sold its entire stake in Andhra Pradesh
tribunal ITAT as upheld levy of Rs 10,247 crore capital gains tax Expressway (APEL) to Cube Highways & Infrastructure, Singapore for Rs
on UK's Cairn Energy Plc but has held that interest cannot be 140 crore.
charged on it as the demand was raised using retrospective tax
legislation.
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