KEC Int'l spikes 10% on new orders worth Rs 1511cr

KEC International , an RPG group company, gained more than 10 percent intraday on Wedndesday as the company has received orders worth Rs 1,511 crore in its transmission, power systems and cable businesses from India, Oman, Nepal and Latin America.

KEC has secured two orders worth Rs 286 crore and 386 crore from Power Grid Corporation. Rs 602 crore order for design, supply and erection of 400 KV transmission line from Sur to Izki grid station on turnkey basis is secured from Bhawan Engineering Company LLC in Oman.

Rs 131 crore order is from Upper Tamakoshi Hydropower in Nepal. SAE Towers, the wholly owned subsidiary of KEC, has received orders worth Rs 63 crore for supply of lattice towers and poles to Brazil, Mexico and United States.

At 13:29 hours IST, the stock rose 7 percent to Rs 72.20 amid large volumes on the Bombay Stock Exchange.

Trading volumes increased quite significantly to 5,07,277 equity shares as compared to its five-day average of 28,990 shares.

Market capitalisation of the company currently stands at Rs 1,856.18 crore.

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NALCO gains 4% as govt plans to divest over 12%

State-owned National Aluminium Company  (NALCO) gained as much as 4.55 percent to touch an intraday high of Rs 51.65 on Wednesday as media reports suggest that the government is looking to divest a little more than 12 percent in the company in February, depending on the company's financial performance in the third quarter.

At 13:02 hours IST, the stock rose 3.74 percent to Rs 51.25 amid heavy volumes on the Bombay Stock Exchange.

Trading volumes increased 102 percent to 1,15,372 equity shares as compared to its five day average of 57,073 shares.

For the year ended March 31, 2012, the company reported net profit of Rs 849.50 crore on sales turnover of Rs 7,038.23 crore.

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KEC International gets Rs 1,511cr orders, shrs jump 8%

Moneycontrol Bureau

KEC International Wednesday said it has received new orders worth Rs 1,511 crore in transmission, power systems and cable businesses, sending shares of the RPG-Group company up 8 percent in afternoon trade.

In India, KEC has received two orders from Power Grid Corp of India. These include Rs 286 crore order to supply and erect 800 KV HVDC between Champa Cooling Station and Kurukshetra Transmission Line (Western Region portion - Part 1) and Rs 386 crore order for supply and erection of 800 KV HVDC between Champa Cooling Station and Kurukshetra Transmission LIne (Western Region portion - Part 2) in Chattisgarh. Separately, it has also received Rs 43 crore worth orders to supply power and telecom cables.

In Oman, the company has received Rs 602 crore order from Bhawan Engineering Co. to design, supply and erect 400 KV transmission line from Sur to Izki grid station for Oman Electricity Transmission Co.

In Nepal, Upper Tamakoshi Hydropower has awarded a Rs 131 crore contract to supply transmission line and substation and in the Americas KEC International's arm SAE Towers has won various orders to supply lattice towers and poles to Brazil, Mexico and United States.

At 13:00 hrs, KEC International shares were up near 6 percent at Rs 71.60 on NSE.

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Mcnally Bharat gains 3% on new orders worth Rs 72 cr

McNally Bharat Engineering Company gained nearly 3 percent intraday amid large volumes on Wednesday as the company has received two orders worth Rs 72 crore.

The order of Rs 59.04 crore is for supply, civil works and erection & commissioning services for a paste fill plant at Rahjasthan. The second order of Rs 13 crore is for civil, water supply, sanitary & plumbing work for office building at Kolkata.
 
At 13:41 hours IST, the stock rose 1.21 percent to Rs 100.50 on the Bombay Stock Exchange.

Trading volumes increased quite sharply to 1,68,648 equity shares as compared to its five day average of 11,496 shares.

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Sintex gains 3% on raising USD 170 mn via FCCBs, QIP

Plastic water tank maker Sintex Industries gained more than 3 percent on Tuesday as the company raised USD 170 million through a mix of foreign currency convertible bonds (FCCBs) and shares to qualified institutional investors.

The Economic Times reported that Sintex raised USD 140 million from bond holders at a higher coupon rate of 5.37 percent and additional USD 30 million from QIPs as the company inches nearer to repay its bond holders USD 290 million by March 2013.

At 13:01 hours IST, the stock rose 2.76 percent to Rs 67.05 on the Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 2,008.21 crore.

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GCPL subsidiary acquires Colgate-Palmolive brand in UK

Godrej Consumer Products Ltd (GCPL) today said its UK-based subsidiary has acquired Colgate-Palmolive's Soft & Gentle brand for an undisclosed amount.

Keyline Brands Ltd, the company's UK-based unit, has acquired the Soft & Gentle brand from Colgate-Palmolive, GCPL said in a statement. Soft & Gentle, which is the UK's fourth largest female deodorant brand by market share, had posted sales of 21 million pounds in 2011, it added.

"The acquisition of Soft & Gentle by Keyline Brands will add profitable scale to our UK business. Over the last few years, Keyline Brands has delivered good performance and grown in double digits in very tough market environment that is witnessing little to no growth," GCPL chairman Adi Godrej said.

The company said acquisition is being funded by low-cost debt and the impact on GCPL's consolidated debt equity ratio is 0.03. Godrej said the company's UK business has historically had a higher mix of distributed brands than owned brands. "Strategically, we have been working on changing the mix towards owned brands and building more scale in the business.

With the Soft & Gentle acquisition, the salience of owned brands will become greater than that of distributed brands," he added. Commenting on the acquisition Keyline Brands managing director Anand Rangaswamy said the company can use the strong latent brand equity combined with updating the fragrance technology to develop further range extensions within the female personal care category. Shares of GCPL were trading at Rs 723.75 on the BSE in afternoon trade, up 0.26 per cent from its previous close.

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Petron Engineering up 10% on order from Madras Cements

Shares of Petron Engineering Construction rallied 10 percent to Rs 143.75 amid heavy volumes on the Bombay Stock Exchange on Tuesday as the company has received order worth Rs 41.5 crore from Madras Cements.

The order is for mechanical, electrical & instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam.

Trading volumes increased quite significantly to 1,51,762 equity shares as compared to its five day average of 827 shares.

Market capitalisation of the company currently stands at Rs 108.36 crore.

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Mercedes 2012 sales at 7,138 units; to up prices by 1-3%

Moneycontrol Bureau

German luxury car maker Mercedes-Benz on Tuesday said it sold 7,138 units in India in 2012 (Jan-Dec), in line with expectations, and will raise prices by 1-3 percent from Jan 14.

"Rising inputs cost, volatility of the rupee-euro, high interest rates and other associated factors have put significant pressure on us. Consequently, we are forced to share a part of this burden with our customers and we will increase prices of our vehicles to the tune of 1-3 percent," said, Eberhard Kern, MD & CEO, Mercedes-Benz India.

The price of the B-Class will go up by 1 percent, C-Class and E-Class sedans price will rise 1.5 percent and the S-Class sedan will be costlier by 3 percent. Price of the M-Class will increase by 3 percent and it has raised prices of its completely built units (CBUs) like SLK, CLS, R Class and SLS AMG by 1 percent, it said.

Mercedes said it has seen strong demand for some of its models like the M-Class sports utility vehicle, which was launched in May last year and is booked until May 2013. The B-Class in the sports tourier category is also booked until next month, it added.

The luxury car market in India has seen intense competition in recent years, with Audi, BMW, apart from Mercedes among the top sellers.

Mercedes said it pursued "its aggressive network expansion strategy" last year. It has opened 6 new touchpoints in tier II and III cities, thus taking its total network to 72 touchpoints and 31 cities. It claims that its network is densest among all luxury car manufacturers in India.

Mercedes is not the only company raising prices. Most other passenger vehicle makers have annouced price hikes across segments from Jan.

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Suven Life gets three patent approvals for CNS molecules

Drug firm Suven Life Sciences today said it has received three product patents for CNS molecules, two from Eurasia and one from Canada, which could be used for treating various central nervous system disorders.

The product patents are valid through 2027, Suven Life Sciences said in a filing to the BSE. The company has received approval for molecules that could be used in the treatment of neurodegenerative disorders like Parkinson's, Alzheimer's and Schizophrenia, it added.

Products developed out of these molecules may be out-licensed at various phases of clinical development like Phase I or Phase II, the company said. Commenting on the development, Suven CEO Venkat Jasti said: "We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need with huge market potential globally."

With these new patents, the company now has a total of 10 patents from Canada and 12 patents from Eurasia, the company said. Shares of Suven Life Sciences were trading at Rs 31.20 on the BSE in afternoon trade, up 2.63 per cent from previous close.

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Order book seen at Rs 15k -17k cr in 3-6 months: Pipavav

Pipavav Defence and Offshore Engineering Company secured order worth Rs 400 crore to repair, maintain and dry docking of oil rig of ONGC. Nikhil Gandhi, chairman, Pipavav Defence told CNBC-TV18 that the company's order book has now reached to Rs 8,500 crore. Further, it is likely to reach Rs 15,000-17,000 crore in three-six months.

Below is the edited transcript of Nikhil Gandhi's interview with CNBC-TV18

Q: Take us through the order that you have got from Oil and Natural Gas Corporation Limited (ONGC). What exactly is this in terms of a margin addition? Where does it take your order book?

A: This is first major contract we have got from ONGC in terms of rigs and oil platforms, because Pipavav has built one of the largest facilities in the world. We are very proud to have made a beginning with the ONGC. It is a very prestigious contract.

ONGC has large number of oil rigs and platforms demand both in terms of construction and maintenance during the next two-three years. Pipavav being the second largest dry dock in the world remains the leader henceforth to secure many such contracts.

Sagar Laxmi is a very prestigious machine of ONGC for offshore requirement, we will provide restoration. As far as the order is concerned, this is five percent of our total order value. This takes our order value to nearly Rs 8,500 crore.

We are looking at securing couple of more contracts from the global market. Pipavav has also secured two contracts from two of the largest oil and gas exploration companies and operating companies called Transocean and Noble. So, the year has ended well for Pipavav.

Q: What are you expecting to do by way of a revenue increase in FY13 itself and then going forward in FY14 since you have a decent order book of Rs 8,500 crore as you say. Can you draw for us how the revenue trajectory will look, how the EBITDA will look and more importantly actually EPS as well?

A: The combined EBITDA normally for warship building, offshore building and drydocking put together about 25 percent on an average. The order book will have a multiplication effect in next quarter or so. Some of the bids which we have already submitted are likely to come through.

We are looking at more robust execution both in terms of current and new orders. Also, new contracts are going to be significant in numbers. Our overall usage of ship building will increase significantly and so as the EPS margins.

Q: From an international perspective as well as from a domestic order book standpoint from Rs 8,500 crore where do you expect the order book to end up possibly in the next three months as well as six months?

A: Between next three to six months our order book could be close to Rs 15,000-17,000 crore. We are also increasing manpower. We have signed Memorandum of Understanding (MoU) and are in the process of finalizing agreement with French major DCNS, which is the second largest warship builder in the world.

With them being shareholder in the company, they will support us in terms of speedier execution and also improvement of R&D, supply chain management and interfacing with clients and other partners. We are in the process of having an all-round improvement over the next one or two quarters onwards, thanks to these two partnerships that we have built - Saab of Sweden and DCNS.

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