Nikkei falls sharply as Italy election spooks investors

Japan's Nikkei share average fell sharply at the open on Tuesday, retreating from a 53-month high as the yen strengthened on uncertainty following the Italian elections, with shares of some big exporters to Europe tumbling.The Nikkei <.N225> dropped 2.4 percent to 11,379.92, and the broader Topix <.TOPX> shed 1.9 percent to 962.53.On Monday, the Nikkei had risen 2.4 percent to 11,662.52, its highest level since late September 2008 .

US markets tumble on concern over Italy's election results In the US market, stocks kicked off the week with a big thud as all three major indices dropped more than 1 percent across the board as investors remained concerned over Italy's election results.The S&P 500 broke below 1,500 and the Dow declined more than 200 points, retreating from its fresh multi-year high. The CBOE volatility index surged more than 30 percent to trade near 19.In key data to watch out for in the US today, new home sales are expected to come in higher at 381,000. Consumer confidence index is seen at 61. Also watch out for data from S&P Case-Shiller home price index and federal reserve chairman Ben Bernanke is slated to trek up to capitol hill for his biannual congressional testimony. In the currency space, the euro slips to a 6-week low versus the dollar, below 1.31. The dollar index inches close to the 82 mark.In commodities, Brent crude hovers around USD 113 levelsFrom the precious metals space, gold is towards USD 1600 levels. Asian markets trading weak; Nikkei slips 1.3%
At 7: 59 am (IST), Asian markets were trading weak. Hong Kong's Hang Seng was down 0.33% or 75.32 points at 22,744.76.Japan's Nikkei slipped 1.32% or 153.37 points at 11,509.15.Singapore's Straits Times shed 0.40% or 13.25 points at 3,275.51.South Korea's Seoul Composite fell 0.23% or 4.54 points at 2,004.98.Taiwan's Taiwan Weighted was down 0.48% or 38.38 points at 7,909.30.China's Shanghai Composite was up 0.27% or 6.38 points at 2,332.20.

Suzlon bags 103 MW order from ONGC Suzlon Energy Ltd has announced that it has bagged 103 MW order from Oil & Natural Gas Corporation Limited. Moody's affirms SBI's deposit ratings In the process, Moody's has also affirmed SBI's D+ bank financial strength rating (BFSR), while adjusting its mapping to a baseline credit assessment (BCA) of ba1 from baa3 previously on the long-term scale. Moody's Investors Service has affirmed the ratings of the State Bank of India (SBI), while repositioning its baseline credit assessment one notch lower. The ratings affirmed are its: Local currency bank deposit ratings of Baa2/P-2 Foreign currency bank deposit ratings of Baa3/P-3 Senior unsecured MTN program (foreign currency) of (P)Baa2 Subordinate MTN Program (foreign currency) of (P)Baa3 Junior subordinate MTN program (foreign currency) of (P)Ba1 Other short-term debt of (P)P-3 Foreign currency senior unsecured debt rating of Baa2 Senior unsecured foreign currency debt of Baa2 In the process, Moody's has also affirmed SBI's D+ bank financial strength rating (BFSR), while adjusting its mapping to a baseline credit assessment (BCA) of ba1 from baa3 previously on the long-term scale. BFSRs and BCAs are inputs in the determination of long-term ratings, and a BFSR of D+ can be mapped to either ba1 or baa3, depending on the relative credit standing of a bank. The lowering of SBI's BCA reflects its relatively high level of non-performing loans (NPL), which are unlikely to be managed down quickly, and the bank's relatively weaker ability to sustain any further deterioration in the economic environment relative to its similarly-rated peers globally. The bank benefits from this support uplift based on Moody's assessment of its systemic importance, which is characterized by its dominant market position as the largest bank in the country, its critical function in India's payment system -- processing 14% of all transactions -- its 61.58% ownership by the government, and historical evidence of

government support for the bank. As a result of this systemic importance, Moody's has left unchanged the global local currency deposit rating and senior unsecured debt rating at Baa2 despite the lowering of the stand-alone credit assessment to ba1. However, as a result of the one-notch lowering of the BCA, Moody's has revised its foreign hybrid Tier 1 debt rating (preferred stock non-cumulative) to B1 (hyb) from Ba3 (hyb), as these ratings of junior securities are notched off from the BCA under our bank rating methodology. The outlook on all SBI's ratings is stable.

Top corporate news of the day Oil India Ltd is looking for a technical partner to help bring to production its find of heavy oil in the NELP onshore block in Rajasthan. This is after an experiment with PDSVA Venezuela failed to make headway in flowing similar crude oil from its Rajasthan nomination field. Ranbaxy has restarted the production of its anti-cholestrol drug Atorvastatin for the United States market. The company had, in November 2012, voluntarily recalled select batches and strengths of Atorvastatin calcium tablets in the US. (BL) Oil India Ltd is looking for a technical partner to help bring to production its find of heavy oil in the NELP onshore block in Rajasthan. This is after an experiment with PDSVA Venezuela failed to make headway in flowing similar crude oil from its Rajasthan nomination field. (BL) State Bank of Indias baseline credit assessment has been lowered a notch by credit rating agency Moodys Investors Service, reflecting its relatively high level of bad loans. (BL) Spelling more trouble for beleaguered Kingfisher Airlines, Government announced withdrawal of all domestic and international flying slots of the grounded carrier with immediate effect and decided to allot them to other Indian airlines. (BS) Railways joined hands with BHEL for setting up a modern Mainline Electric Multiple Unit coach factory in Rajasthan to cater to the growing demand for faster local and suburban trains. (BS) United Breweries Limited, which commands over 50% share of the Indian brewing market, introduced its premium beer brand Kingfisher Blue in Andhra Pradesh. (BS) Claris Lifesciences Limited informed that the company has received approval for two ANDAs for ondensetron injection in the US. (BS) SKS Microfinance will decide on applying for a new banking licence in its board meeting in May, 2013, according to a senior executive. (BS) The government today said that Coal India produced 46mn tonnes coal last month, a growth of 4% over Jan12. The company has said that in order to meet the production target of 464mn tonnes in the current fiscal ending March 31, it will have to clock 10% growth in the ongoing quarter. (BS) Meritnation.com the online K-12 education website, announced that it has raised Rs300mn from Info Edge. (BS) The Income Tax Department and Infosys announced the launch of a Central Processing Centre for better administration and processing of TDS. The TDS facility will process more than 400mn tax deduction submissions filed by nearly 1mn entities annually. (BS)

Top economy news of the day The Governments attempt to sell spectrum has failed yet again with only one Telecom Company showing interest in participating in the upcoming auction. (BL) In a double whammy for the fertiliser sector, the Finance Ministry is unlikely to provide additional subsidy in the current financial year. At the same time, the fertiliser companies have been asked to bear part of interest burden on account of the special banking arrangement for payment of subsidy in the current year itself. (BL)

The Employees Provident Fund Organisation has announced a higher interest rate of 8.5% in 2012-13 compared with 8.25% announced last year for over 50mn subscribers of the Centres provident fund scheme. (BL) Credit growth for Indian banks is likely to remain muted at 15% in the new financial year beginning April 2013, according to Standard & Poor's Ratings Services. (BL) Global ratings major Standard & Poors, which has threatened to downgrade the countrys sovereign rating to junk, said it sees economic growth improving to 6.4% next fiscal. (BL) The Reserve Bank will infuse additional liquidity by pumping in Rs100bn in the market through open market operations on March 1. (BS) Indian Railways signs MOU with BHEL MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes. In the presence of the Minister of Railways Pawan Kumar Bansal and the Minister for Heavy Industries & Public Enterprises Praful a Memorandum of Understanding (MoU) was signed between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility by BHEL at Bhilwara in Rajasthan. The signatories to the MOU were Shri Kul Bhushan, Member Electrical Railway Board, and B. P. Rao, CMD, BHEL. Main Line Electric Multiple Unit Trains, popularly known as MEMU trains were first introduced in Indian Railways in the Year 1994-95, as a mode of rapid transit system, to cater to non-suburban passengers, residing in small towns and villages surrounding urban and industrial centres. MEMU trains have higher passenger carrying capacity and higher average speed as compared to conventional loco hauled passenger trains due to faster acceleration and braking characteristics. These rakes are now being manufactured with toilet facilities to take care of passenger needs. MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes. These MEMU trains have gained rapid popularity over the years. Currently, there are about 160 MEMU services running. There are demands coming from all over the country for running more and more MEMU trains. The demand for these coaches will further increase as Indian Railways have plans to Electrify approximately 15000 route kilometre during the next 10 years, in addition to the existing 22000 route kilometre of electrified track. There was a shortfall in acquisition of 800 MEMU coaches during XIth Plan Period due to capacity constraints at Rail Coach Factory, Kapurthala, where these MEMU coaches are produced. Overall it is expected that the requirement of MEMU coaches will grow to nearly 9000 coaches during the next 10 year period. Setting up of factory for conventional MEMU coaches will go a long way in meeting this demand. Bharat Heavy Electricals Limited (BHEL) is a Maharatna Central Public Sector Unit (CPSU) company, which is a partner of Indian Railways for a period spanning more than 40 years. It has been manufacturing and supplying electric rolling stock including EMUs and MEMUs; as well as sub-assembly and equipment for rolling stock being manufactured at IRs own production units. The proposed facility for production of MEMU coaches will be set up by Bharat Heavy Electricals Limited (BHEL) at Bhilwara in the State of Rajasthan. The entire cost will be borne by BHEL. Government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, Ministry of Railways will give Assured Off- Take orders to BHEL.

Rupee opens lower at 54.06 per dollar

The Indian rupee opened lower at 54.06 per dollar versus 53.87 yesterday's closing.The euro slipped to a 6-week low versus the dollar, below 1.31. The dollar index inches close to the 82 mark. Pantaloon Retail fixes book closure for dividend & AGM
Pantaloon Retail (India) Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from May 03, 2013 to May 08, 2013 (both days inclusive) for the purpose of Payment of determining the dividend on fully paid up compulsorily preference shares, equity shares and on Class B Shares (Series 1) & 25th Annual General Meeting (AGM) of the Company to be held on May 08, 2013.Source : BSE

Duke Management buys 52 lakh shares of Alok Industries

On February 25, 2013 Duke Management Services Pvt Ltd bought 5,200,000 shares of Alok Industries at Rs 9.50 on the NSE.In the previous trading session, the share closed at Rs 9.28, down Rs 0.59, or 5.98%. It has touched a 52week low of Rs 8.90.The company's trailing 12-month (TTM) EPS was at Rs 6.86 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 1.35. The latest book value of the company is Rs 30.54 per share. At current value, the price-to-book value of the company was 0.3. The dividend yield of the company was 3.23%. Vikram Solar implements 170 kWp solar power facility in Nagaland

The implementation of this project will prove to be a pioneering move in the North-East since it will reduce its dependence on grid power during the daytime. Vikram Solar, a leading solar module manufacturing company, has successfully installed 170 kWp solar power facility at three sites in Kohima, Nagaland. The implementation of this project will prove to be a pioneering move in the North-East since it will reduce its dependence on grid power during the daytime. The power generated from the SPV will be utilized for its self-consumption. During the installation of this project, Vikram Solar had to deal with adverse climate and rough terrain. With tough site conditions and maximum installation work completed during the precarious monsoon season, the project was an extremely difficult one to complete with temperatures around 4Centigrade and the installations being mounted on tilt structural rooftops. This 170 kWp solar power plant has been installed in a fully operational and high security site. The sites include a 100kWp project at the Assembly Secretariat, a 50 kWp project at PWD complex and 20kWp project at the Nagaland Police Headquarters. The system consists of Solar modules, grid interactive solar inverters, Battery for back up & other electrical system to ensure reliable and self sustainable power generation. Subhendu Roy Vice President Operations & Maintenance EPC ( Solar ) stated We are thankful to the Department of New & Renewable Energy, Nagaland for extending full cooperation for executing this prestigious project in the state. Our project execution team withstood all hurdles to stand by the difficult climatic condition and complete the project in a time bound manner. This will give us the strength and confidence to execute such similar projects in North East in the future. Gyanesh Chaudhary, Director, Vikram Solar, commented on the occasion, We are honoured to get an opportunity to install our facilities in the North-Eastern part of the country. We are thankful to the respected authorities for giving us an opportunity to showcase our expertise. I was confident that we would be able to successfully implement this prestigious project.
Sensex opens on a negative note At 9:18am (IST), the BSE Sensex was trading at 19262, down 69 points over the previous close. It had earlier touched a day's high of 19293 and a day's low of 19248. It opened at 19290 The NSE Nifty was quoting at 5,827, down 27 points over the previous close. It earlier touched a days high of 5,838 and a days low of 5824. It opened at 5,838. The BSE Small-Cap index and BSE Mid- Cap index was trading down 0.28% and 0.40%. TCS, SBI, ICICI Bank, Tata Steel, Hero MotoCorp, ONGC, Dr Reddys Lab, Bajaj Auto, Tata Motors, Hindalco Inds, Mahindra & Mahindra are among gainers in Sensex and Nifty. RIL, Infosys, Wipro, NTPC, Bharti Airtel, Sun Pharma, BHEL, HDFC are among losers in Sensex and Nifty. FMCG, IT, Teck indices are the gainers. Oil and Gas , HC, PSU, Power,Realty, Metal, Consumer Durables, Bankex, Capital Goods are the losers.

IFCI sells 5.84 lakh shares of Orbit Corporation

On February 25, 2013 IFCI Ltd. sold 584,640 shares of Orbit Corporation at Rs 34.06 on the NSE. In the previous trading session, the share closed at Rs 33.75, down Rs 4.75, or 12.34%. It has touched a 52-week low of Rs 31.55.The company's trailing 12-month (TTM) EPS was at Rs -0.61 per share. (Dec, 2012). The latest book value of the company is Rs 82.87 per share. At current value, the price-to-book value of the company was 0.41.

Welspun Fintrade buys 17.42 lakh shares of Welspun Corp

On February 25, 2013 Welspun Fintrade Limited bought 1,742,495 shares of Welspun Corp at Rs 64.32 on the NSE.In the previous trading session, the share closed at Rs 67.20, down Rs 16.65, or 19.86%. It has touched a 52-week low of Rs 56.55.The company's trailing 12-month (TTM) EPS was at Rs 17.81 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 3.77. The latest book value of the company is Rs 156.33 per share. At current value, the price-to-book value of the company was 0.43. The dividend yield of the company was 0.74%. Tata Motors drops as ADR declines
Tata Motors fell 1.52% to Rs 294.50 at 9:22 IST on BSE after the company's American depository receipt, or ADR, fell 1.23% to settle at $27.23 on the New York Stock Exchange on Monday, 25 January 2013. Meanwhile, the BSE Sensex was down 75.71 points, or 0.39%, to 19,255.98. On BSE, 30,000 shares were traded in the counter as against an average daily volume of 11.80 lakh shares in the past one quarter. The stock hit a high of Rs 295.20 and a low of Rs 292.95 so far during the day. The stock had hit a record high of Rs 337.05 on 10 January 2013. The stock had hit a 52-week low of Rs 202.95 on 26 July 2012. The stock had outperformed the market over the past one month till 25 February 2013, falling 0.66% compared with the Sensex's 3.84% fall. The scrip had also outperformed the market in past one quarter, rising 14.71% as against Sensex's 4.46% rise. The large-cap company has an equity capital of Rs 637.95 crore. Face value per share is Rs 2. Tata Motors' consolidated net profit declined 52.2% to Rs 1627.50 crore on 1.4% growth in net sales to Rs 45821.31 crore in Q3 December 2012 over Q3 December 2011. Tata Motors is India's largest automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain and South Africa and Indonesia. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 7.5 million Tata vehicles plying in India, Tata Motors is the country's market leader in commercial vehicles in India and among the top in passenger vehicles. It is also the world's fourth largest truck and bus manufacturer. Tata cars, buses and trucks are being marketed in several countries in Europe, Africa, the Middle East, South Asia, South East Asia, South America, CIS, and Russia.

Bharti, Idea rally on hopes of cut in airwave prices

Shares in mobile network operators rallied on Tuesday, with Bharti Airtel Ltd rising as much as 9.3 percent, on hopes the government would have to cut the reserve price in the auctions of remaining airwaves.Expectations rose after only Sistema bid in an auction of airwaves on Monday.Bharti shares were up 4.6 percent as of 9:30 a.m., while Idea Cellular Ltd was up 3.2 percent

Bhel gains after inking MoU with Railways for MEMU coach factory Bhel rose 1.01% to Rs 209.65 at 9:41 IST on BSE after the company signed a pact with the Indian Railways for setting up Greenfield MEMU coach manufacturing facility at Bhilwara in Rajasthan. Meanwhile, the BSE Sensex was down 118.80 points, or 0.61%, to 19,212.89. On BSE, 70,000 shares were traded in the counter as against an average daily volume of 4.44 lakh shares in the past one quarter. The stock hit a high of Rs 209.90 and a low of Rs 207 so far during the day. The stock had hit a 52-week high of Rs 323.70 on 29 February 2012. The stock had hit a 52-week low of Rs 195.05 on 12 September 2012. The stock had underperformed the market over the past one month till 25 February 2013, falling 9.56% compared with the Sensex's 3.84% fall. The scrip had also underperformed the market in past one quarter, sliding 7.61% as against Sensex's 4.46% rise. The large-cap state-run firm has an equity capital of Rs 489.52 crore. Face value per share is Rs 2. The Ministry of Railways after trading hours on Monday, 25 February 2013, said that a Memorandum of Understanding (MoU) was signed on Monday, 25 February 2013, between Indian Railways and Bhel for setting up of Greenfield MEMU coaches manufacturing facility by Bhel at Bhilwara in Rajasthan. The entire cost of the project will be borne by Bhel. The state government of Rajasthan will provide land to Railways, for setting up the project. In order to make the project viable, the Ministry of Railways will give Assured Off- Take orders to Bhel. Main Line Electric Multiple Unit Trains, popularly known as MEMU trains were first introduced in Indian Railways in the Year 1994-95, as a mode of rapid transit system, to cater to non-suburban passengers, residing in small towns and villages surrounding urban and industrial centres. MEMU trains have higher passenger carrying capacity and higher average speed as compared to conventional loco hauled passenger trains due to faster acceleration and braking characteristics. MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes, the Ministry of Railways said. There are demands coming from all over the country for running more and more MEMU trains, the Ministry of Railways said. The demand for these coaches will further increase as Indian Railways have plans to Electrify approximately 15000 route kilometre during the next 10 years, in addition to the existing 22,000 route kilometre of electrified track, the Ministry of Railways said. Overall it is expected that the requirement of MEMU coaches will grow to nearly 9,000 coaches during the next 10 year period. Setting up of factory for conventional MEMU coaches will go a long way in meeting this demand, the Ministry of Railways said. Bhel reported 17.5% fall in net profit to Rs 1181.85 crore on 3.2% decline in total income to Rs 10552.09 crore in Q3 December 2012 over Q3 December 2011. Bhel's order backlog stood at Rs 113700 crore as of 31 December 2012. Bhel is the largest engineering and manufacturing enterprise in India in the energy-related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence. The Ministry of Heavy Industries and Public Enterprises, Department of Public Enterprises, recently granted Maharatna status to the company. Oil India hunts for partner to flow Rajasthan heavy oil find Oil India Ltd reportedly seeks for a technical partner to help bring to production its find of heavy oil in the NELP onshore block in Rajasthan. This is after an experiment with PDSVA Venezuela failed to make headway in flowing similar crude oil from its Rajasthan nomination field (area given to national oil companies prior to the licensing rounds),reports added.

Pantaloon Retail board recommends dividend

Pantaloon Retail (India) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 25, 2013, inter alia, has recommended a dividend of Rs. 1.10 (55%) per equity share of Rs. 2/- each and Rs. 1.14 (57%) per Class B Shares (series 1) of Rs. 2/- each.Source : BSE

Bharti, Idea shoot up after ignoring spectrum auction

Shares of Bharti Airtel and Idea Cellular rallied quite smartly in early trade on Tuesday as major GSM players decided to stay away from spectrum auction.In a setback to the government ahead of the Budget, there are no takers for the 900 MHZ GSM spectrum in the upcoming auctions in March as Vodafone, Bharti Airtel and Idea have decided not to participate.According to CNBC-TV18 reports, this comes after, the Delhi High Court refused to grant a stay on the 900 MHZ auctions based on the pleas of Vodafone and Bharti Airtel on Monday.The research firm Citi recommended a buy rating on Bharti with a target price of Rs 397. "Not applying for the upcoming spectrum auctions should help lower the hit from license renewals," Citi reasoned. HBO, EROS announces distribution deals with Dish and Airtel Digital TV The launch of HBO DEFINED and HBO HITS on Dish TV and Airtel Digital TV will reach out to a wide network of subscribers all over India HBO Asia and Eros International Media Limited today announced the launch of HBO DEFINED and HBO HITS in India with two of the leading DTH operators, Dish TV and Airtel Digital TV. These carriage deals come shortly after the December 2012 announcement of the landmark strategic tie-up between HBO Asia and Eros to launch two new premium advertising-free movie channels in India. The channels are currently on air and will be available for a free preview in the initial phase of the launch. HBO DEFINED and HBO HITS will showcase the best of Hollywood and Bollywood content through HD and SD* feeds on Dish TV (channels 24 and 25 on HD and 414 and 415 on SD boxes respectively) and SD feed on Airtel Digital TV (channels 199 and 200 respectively). These will be offered at a special introductory price of Rs.49** & Rs.69** for SD and HD services respectively. The launch of HBO DEFINED and HBO HITS on Dish TV and Airtel Digital TV will reach out to a wide network of subscribers all over India, said Jonathan Spink, CEO of HBO Asia. Subscribers in India will be able to enjoy a first class cinema experience that is 100% advertising free in the comfort of their own home. Jyoti Deshpande, Executive Director, Eros International Media Limited said, We are excited about the quick response from the DTH operators to offer our premium channels to their customer base and are thankful to Dish and Airtel for partnering with us. We are confident that our compelling and unique content offering of Bollywood and Hollywood plus an advertising-free viewing experience will make this an instant hit with subscribers. Catering to all movie lovers and each having a distinct identity, HBO DEFINED (www.hbodefined.in) is a 24-hour advertising-free premium programming subscription service and home of the latest Hollywood and Bollywood blockbusters and award-winning HBO Originals, while HBO HITS (www.hbohits.in) is a high-octane 24-hour advertising-free premium subscription service that is packed full of entertainment with a bold, honest and unapologetic attitude and indulges the viewers with genre driven anchors and iconic HBO Original series. Over the next few months viewers can expect an overwhelming line-up of first time in India Hollywood blockbuster premieres such as Mission Impossible: Ghost Protocol, Bollywood premires of titles such as Chakravyuh, Award winning titles such as The Iron Lady and exclusive and award-winning HBO Original programmes such as Veep, Game of Thrones, True Blood and Boardwalk Empire as they premiere close to U.S. airdates. In addition, dual language options of either English or Hindi are available for selected Hollywood blockbusters. Some of the upcoming titles in dual language are Captain America: The First Avenger, Thor, Harry Potter & The Deathly Hallows Part 2, Mission Impossible: Ghost Protocol, Kung Fu Panda 2 and Journey 2 Mysterious Island. A high impact multi-media marketing campaign will be launched to promote the two new channels across platforms. The campaign will commence mid March.

Zee Entertainment inches up after bulk deals

Zee Entertainment Enterprises rose 0.21% to Rs 219 at 10:47 IST on BSE after two bulk deals aggregating 21.50 lakh shares were executed on BSE at Rs 219 per share at 9:55 IST. The two bulk deals constitute 0.22% of Zee Entertainment Enterprises' equity. Meanwhile, the BSE Sensex was down 127.87 points or 0.66% at 19,203.82. On BSE, 22.37 lakh shares were traded in the counter as against average daily volume of 4.46 lakh shares in the past one quarter. The stock hit a high of Rs 220 and a low of Rs 217.75 so far during the day. The stock had hit a 52-week high of Rs 247 on 24 December 2012. The stock had hit a 52-week low of Rs 118.90 on 20 March 2012. The stock had underperformed the market over the past one month till 25 February 2013, sliding 4.27% compared with the Sensex's 3.84% fall. The stock had, however, outperformed the market in past one quarter, surging 7.03% as against Sensex's 4.46% rise. The large-cap media company has equity capital of Rs 95.40 crore. Face value per share is Re 1.

Zee Entertainment Enterprises' consolidated net profit rose 39.3% to Rs 194.11 crore on 26.3% growth in net sales to Rs 938.82 crore in Q3 December 2012 over Q3 December 2011. Zee Entertainment Enterprises is one of India's leading television media and entertainment companies HBO, EROS announces distribution deals with Dish and Airtel Digital TV The launch of HBO DEFINED and HBO HITS on Dish TV and Airtel Digital TV will reach out to a wide network of subscribers all over India HBO Asia and Eros International Media Limited today announced the launch of HBO DEFINED and HBO HITS in India with two of the leading DTH operators, Dish TV and Airtel Digital TV. These carriage deals come shortly after the December 2012 announcement of the landmark strategic tie-up between HBO Asia and Eros to launch two new premium advertising-free movie channels in India. The channels are currently on air and will be available for a free preview in the initial phase of the launch. HBO DEFINED and HBO HITS will showcase the best of Hollywood and Bollywood content through HD and SD* feeds on Dish TV (channels 24 and 25 on HD and 414 and 415 on SD boxes respectively) and SD feed on Airtel Digital TV (channels 199 and 200 respectively). These will be offered at a special introductory price of Rs.49** & Rs.69** for SD and HD services respectively. The launch of HBO DEFINED and HBO HITS on Dish TV and Airtel Digital TV will reach out to a wide network of subscribers all over India, said Jonathan Spink, CEO of HBO Asia. Subscribers in India will be able to enjoy a first class cinema experience that is 100% advertising free in the comfort of their own home. Jyoti Deshpande, Executive Director, Eros International Media Limited said, We are excited about the quick response from the DTH operators to offer our premium channels to their customer base and are thankful to Dish and Airtel for partnering with us. We are confident that our compelling and unique content offering of Bollywood and Hollywood plus an advertising-free viewing experience will make this an instant hit with subscribers. Catering to all movie lovers and each having a distinct identity, HBO DEFINED (www.hbodefined.in) is a 24-hour advertising-free premium programming subscription service and home of the latest Hollywood and Bollywood blockbusters and award-winning HBO Originals, while HBO HITS (www.hbohits.in) is a high-octane 24-hour advertising-free premium subscription service that is packed full of entertainment with a bold, honest and unapologetic attitude and indulges the viewers with genre driven anchors and iconic HBO Original series. Over the next few months viewers can expect an overwhelming line-up of first time in India Hollywood blockbuster premieres such as Mission Impossible: Ghost Protocol, Bollywood premires of titles such as Chakravyuh, Award winning titles such as The Iron Lady and exclusive and award-winning HBO Original programmes such as Veep, Game of Thrones, True Blood and Boardwalk Empire as they premiere close to U.S. airdates. In addition, dual language options of either English or Hindi are available for selected Hollywood blockbusters. Some of the upcoming titles in dual language are Captain America: The First Avenger, Thor, Harry Potter & The Deathly Hallows Part 2, Mission Impossible: Ghost Protocol, Kung Fu Panda 2 and Journey 2 Mysterious Island. A high impact multi-media marketing campaign will be launched to promote the two new channels across platforms. The campaign will commence mid March.

Tata Elxsi partners with Get2Volume Get2Volume extends its incubation program to Tata Elxsi companies that include connections, access to the ecosystem within Singapore and funding for companies that meet G2V criteria. Tata Elxsi and Get2Volume (G2V) announced their partnership to incubate and grow technology companies in India and Singapore. Tata Elxsi, Indias leading design company, recently launched incub@TE, an incubation centre program to nurture and support aspiring entrepreneurs. Get2volume, based in Singapore and with funding from the Singapores National Research Foundation invests in, mentors and helps grow innovative microelectronics-centric companies. Tata Elxsi and G2V agreed to extend their incubation offerings and connections to each others portfolio companies. Get2Volume extends its incubation program to Tata Elxsi companies that include connections, access to the ecosystem within Singapore and funding for companies that meet G2V criteria. Tata Elxsi extends its incub@TE program to Get2Volume portfolio companies that want to build their businesses in India, with infrastructure, mentorship and go-to-market support. It will further offer access to world-class product

engineering and its Technology IP portfolio, to help reduce development costs and time to market. These will be covered under separate agreements with the respective portfolio companies. Technology companies are global from day one, said Mike Holt, Get2Volume CEO. Working together with Tata Elxsi, we bring our companies global growth and execution capabilities. This partnership provides portfolio companies with access to capital, connections and complementary capability. We look forward to working together to nurture and empower the next generation of technology entrepreneurs and enable their success added Mr. Rajesh Kumar, Vice President, Strategic Initiatives, Tata Elxsi.

Sinclair Hotels board declares interim dividend Sinclairs Hotels Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 26, 2013, have declared an interim dividend of Rs. 18 per equity share of Rs. 10 (180%) for the financial year ending March 31, 2013.Further, the Board has accepted the resignation of Mr. Siddhartha Yog as a Director and appointed Mr. Aseem Kohli in his place and stead.Source : 10-yr bond yield to open lower as RBI declares OMO
The 10-year paper is seen to open around at 7.78% India's benchmark 10-year bond yield is likely to open lower compared with the previous close of 7.8% after the RBI (Reserve Bank of India) decided to conduct open market operations (OMOs) by purchasing government securities worth Rs. 100 billion on March 1, 2013. OMOs are market operations conducted by RBI by way of sale / purchase of government securities to adjust rupee liquidity conditions. The government securities which RBI will purchase through OMO are 7.32% GS 2014, 7.59% GS 2016, 8.15% GS 2022 and 8.2% GS 2025. This fiscal, the government has been trying to control its spending to keep the fiscal deficit under control. The government has been trying to control spending to stick to the fiscal deficit target of 5.3% of GDP for FY13. Last Friday, the government had cancelled the last scheduled auction of government bonds worth Rs. 120 billion. The 10-year paper is seen to open around at 7.78% and moving to over 7.85% till the Annual Budget on Thursday, according to traders. Aviation stocks extend recent losses Three aviation stocks lost 2.79% to 5.57% at 11:52 IST on BSE on concerns of increased competition after Malaysian budget carrier AirAsia last week announced the launch of its new airline in India in partnership with the Tata Group. Jet Airways (India) (down 5.57% to Rs 476.45), Kingfisher Airlines (down 4.96% to Rs 10.74), and SpiceJet (down 2.79% to Rs 34.80) edged lower. The S&P BSE Sensex was down 122.11 points or 0.63% at 19,209.58. Jet Airways (India) had underperformed the market over the past one month till 25 February 2013, sliding 17.54% compared with the Sensex's 3.84% fall. The stock had also underperformed the market in past one quarter, declining 0.24% as against Sensex's 4.46% rise. SpiceJet had underperformed the market over the past one month till 25 February 2013, sliding 24.07% compared with the Sensex's 3.84% fall. The stock had also underperformed the market in past one quarter, declining 8.91% as against Sensex's 4.46% rise. Kingfisher Airlines had underperformed the market over the past one month till 25 February 2013, sliding 15.17% compared with the Sensex's 3.84% fall. The stock had also underperformed the market in past one quarter, declining 17.64% as against Sensex's 4.46% rise. AirAsia aims to start operations between October and December this year. It would be run from Chennai and in the initial phase concentrate on destinations in South India, where AirAsia already operates.

Diesel is sold at subsidised rate at retail outlets: FM Finance Minister P Chidambaram has reportedly said that Diesel is sold at subsidised rate at retail outlets. Government is open to differential pricing for diesel at retail outlets, according to reports.

Berger Paints recovers after 2-day 6.9% slide Berger Paints India surged 3.64% to Rs 195 at 11:12 IST on BSE, with the stock recovering on bargain hunting after 2-day 6.97% slide. Meanwhile, the BSE Sensex was down 114.83 points or 0.59% at 19,216.86. On BSE, 38,000 shares were traded in the counter as against average daily volume of 95,812 shares in the past one quarter. The stock hit a high of Rs 196.30 and a low of Rs 187.55 so far during the day. The stock had hit a record high of Rs 210 on 21 February 2013. The stock had hit a 52-week low of Rs 99.85 on 27 February 2012. The stock had outperformed the market over the past one month till 25 February 2013, surging 8.1% compared with the Sensex's 3.84% fall. The stock had also outperformed the market in past one quarter, jumping 31.94% as against Sensex's 4.46% rise. The mid-cap company has equity capital of Rs 69.26 crore. Face value per share is Rs 2. Shares of Berger Paints India had declined 6.97% in two trading sessions to settle at Rs 188.15 on Monday, 25 February 2013, from a recent high of Rs 202.25 on 21 February 2013. Berger Paints India's consolidated net profit jumped 56.4% to Rs 76.80 crore on 17.4% growth in net sales to Rs 917.10 crore in Q3 December 2012 over Q3 December 2011. Berger Paints India is engaged in manufacturing and marketing paints and varnishes in India.

Pantaloon Retail declines on JP Morgan underweight report

Pantaloon Retail fell nearly 4 percent intraday on Tuesday as the research firm JP Morgan put an underweight rating on the stock with a target price of Rs 215 after weak set of quarterly earnings.Lower sales growth and costs related to store closures led to an earnings miss. Uncertainty on discretionary demand is likely to constrain near-term stock performance," JP Morgan reasoned.Pantaloon Retail posted a net loss of Rs 20.4 crore in the October-December quarter of FY13 as against profit of Rs 5.6 crore in a year ago period. However, net sales rose nearly 18 percent to Rs 1,253 crore from Rs 1,065 crore during the same period.At 12:06 hours IST, shares declined 0.74 percent to Rs 206.85 on Bombay Stock Exchange.In the previous trading session too, the stock lost 3.34 percent to close at Rs 208.40. Pantaloon Retail (India) slips after dismal Q4 results Pantaloon Retail (India) fell 1.15% to Rs 206 at 12:07 IST on BSE after the company posted a net loss of Rs 20.41 crore in the quarter ended December 2012 as against a net profit of Rs 5.64 crore in the quarter ended December 2011. The result was announced after market hours on Monday, 25 February 2013. Meanwhile, the BSE Sensex was down 131.87 points, or 0.68%, to 19,199.82. On BSE, 2.51 lakh shares were traded in the counter as against an average daily volume of 9.86 lakh shares in the past one quarter. The stock hit a high of Rs 209.70 and a low of Rs 200.15 so far during the day. The stock had hit a 52-week high of Rs 275.75 on 22 January 2013. The stock had hit a 52-week low of Rs 126.50 on 18 May 2012. The stock had underperformed the market over the past one month till 25 February 2013, falling 17.48% compared with the Sensex's 3.84% fall. The scrip had, however, outperformed the market in past one quarter, rising 14.22% as against Sensex's 4.46% rise. The mid-cap company has an equity capital of Rs 46.31 crore. Face value per share is Rs 2. Net sales of Pantaloon Retail (India) rose 17.6% to Rs 1252.85 crore in the quarter ended December 2012 over the quarter ended December 2011. The company posted a net profit of Rs 273.26 crore on total income of Rs 7015.43 crore in the eighteen months ended December 2012. On a consolidated basis, the company posted a net profit of Rs 275.67 crore on total income of Rs 20316.37 crore in the eighteen months ended December 2012. Pantaloon Retail (India) said that latest figures are not comparable with the previous year's figures on account of extension of the accounting period by 6 months from 30 June 2012 to 31 December 2012. Pantaloon Retail (India) is the flagship company of the Future Group. It has presence in 93 cities and 60 rural locations across the country through over 17 million square feet of retail space.

Tata Steel at 52-week low on CLSA sell report Tata Steel , one of the largest steel producers in India, dropped as much as 2.5 percent intraday to touch a new 52-week low of Rs 352.05 on Tuesday after the research firm CLSA recommended a sell rating on the stock with a target price of Rs 310.The renewed focus on asset sales in recent months has opened up possibilities of the sale of Corus' assets which will give Tata Steel's earnings and valuations a meaningful uplift," CLSA said.The company's December quarter earnings were poor . Net loss jumped 27 percent year-on-year to Rs 763 crore as weak demand and prices in its main European market squeezed margins.At 12:18 hours IST, shares slipped 2.13 percent to Rs 353.25 on Bombay Stock Exchange.
FIIs cant buy more stocks of Maruti Suzuki: RBI Foreign investment in Maruti Suzuki has crossed the overall limit of 24% of its paid-up capital, RBI said The Reserve Bank of India (RBI) said foreign Institutional Investors (FIIs) cannot buy shares of car manufacturer Maruti Suzuki India Ltd (MSIL) as their limit of 24% has been breached. Maruti Suzuki India Ltd has crossed the overall limit of 24% of its paid-up capital. Therefore, no further purchases of share of this company would be allowed through stock exchanges in India on behalf of foreign institutional investors, the RBI said in a circular on Monday. FIIs, NRIs and PIOs (persons of Indian origin) are allowed to invest in the primary and secondary capital markets in India under the portfolio investment scheme (PIS). Shares of Maruti Suzuki closed at Rs. 1,449 on the Bombay Stock Exchange, up 0.7% from the previous close. KSB Pumps drops after Monday's 8.1% rally KSB Pumps lost 0.85% to Rs 199 at 12:34 IST on BSE, with the stock sliding on profit booking after Monday's 8.13% rally triggered by the company reporting decent Q4 December 2012 results. Meanwhile, the BSE Sensex was down 161.55 points or 0.84% at 19,170.14. On BSE, 2,532 shares were traded in the counter as against average daily volume of 14,659 shares in the past two weeks. The stock hit a high of Rs 200.45 and a low of Rs 195.80 so far during the day. The small-cap company has equity capital of Rs 34.81 crore. Face value per share is Rs 10. Shares of KSB Pumps had rallied 8.13% to settle at Rs 200.70 on Monday, 25 February 2013, after the company after market hours on 22 February 2013, reported decent Q4 December 2012 earnings. KSB Pumps' net profit rose 20.6% to Rs 19.54 crore on 13.2% decline in net sales to Rs 196.21 crore in Q4 December 2012 over Q4 December 2011. KSB Pumps' net profit rose 35% to Rs 58.01 crore on 3.6% decline in net sales to Rs 718.41 crore in the year ended 31 December 2012 over the year ended 31 December 2011. On consolidated basis, KSB Pumps' net profit rose 29.9% to Rs 63.57 crore on 3.9% decline in net sales to Rs 720.02 crore in the year ended 31 December 2012 over the year ended 31 December 2011. KSB Pumps manufactures water pumps and industrial valves. HOEC off 31.5% in 9 days after reporting net loss in Q3 Hindustan Oil Exploration Company lost 2.71% to Rs 66.40 at 13:00 IST on BSE, with the stock extending 8-day 29.6% slide triggered by the company reporting net loss in Q3 December 2012. Meanwhile, the BSE Sensex was down 167.68 points or 0.87% at 19,164.01. On BSE, 1.82 lakh shares were traded in the counter as against average daily volume of 3.88 lakh shares in the past one quarter. The stock hit a low of Rs 66.15 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 69.30 so far during the day. The stock had hit a 52-week high of Rs 140 on 5 July 2012. The small-cap oil exploration firm has equity capital of Rs 130.49 crore. Face value per share is Rs 10. Shares of Hindustan Oil Exploration Company (HOEC) have tumbled 31.51% in nine trading sessions from a recent high of Rs 96.95 on 13 February 2013, after the company reported net loss in Q3 December 2012 after market hours on 13 February 2013. HOEC reported net loss of Rs 528.75 crore in Q3 December 2012, as against net profit of Rs 4.81 crore in Q3 December 2011. Net sales declined 29.3% to Rs 23.11 crore in Q3 December 2012 over Q3 December 2011. HOEC's bottomline was hit adversely due to an impairment loss in Q3 December 2012. HOEC said that based on third party reserves assessment and reduction in Proved Reserves in PY-1, the company has carried out an impairment test based on procedures consistent with the Accounting Standards in India and recognised a one-time

exceptional loss of Rs 571.97 crore in Q3 December 2012. The total net worth of the company post-write off as of 31 December 2012 is Rs 685.24 crore. As operator, HOEC, on behalf of the consortium partners, has submitted a Commercial Discovery Report (CDR) relating to the significant 'Dirok' Gas Discovery, in a conventional and prolific 'Girujan' Reservoir setting in Upper Assam, to the authorities on 31 December 2012 and the same is under review. After the approval of the CDR, the Consortium shall be making a disclosure of the Resources and presenting a Field Development Plan, to monetise the gas from 'Dirok' Discovery with an accelerated time-to-market schedule with 'First Gas' during the calendar year 2015, HOEC said. HOEC said that with its existing portfolio of exploration and production assets centric to India, the company shall be actively seeking out business opportunities in the conventional and unconventional plays to re-position its portfolio for growth. HOEC was incorporated in 1983 for taking up Exploration and Production (E&P) activities. The company has participating interest in nine oil/gas fields in India (in Cambay basin, Cauvery basin, Assam Arakan basin and Rajasthan basin), which are in varying stages of E&P life cycle i.e. exploration, development and production. Jaiprakash Associates bucks trend on bargain hunting Jaiprakash Associates rose 1.91% to Rs 69.30 at 13:46 IST on BSE on bargain hunting after the stock fell 9.63% in the preceding four sessions to Rs 68 on 25 February 2013, from a recent high of Rs 75.25 on 19 February 2013. Meanwhile, the BSE Sensex was down 213.44 points, or 1.10%, to 19,118.25. On BSE, 13.57 lakh shares were traded in the counter as against an average daily volume of 18.20 lakh shares in the past one quarter. The stock hit a high of Rs 69.70 and a low of Rs 67 so far during the day. The stock had hit a 52-week high of Rs 106.75 on 12 December 2012. The stock had hit a 52-week low of Rs 58.05 on 24 May 2012. The stock had underperformed the market over the past one month till 25 February 2013, falling 21.66% compared with the Sensex's 3.84% fall. The scrip had also underperformed the market in past one quarter, sliding 23.68% as against Sensex's 4.46% rise. The large-cap infrastructure company has an equity capital of Rs 443.81 crore. Face value per share is Rs 2. Jaiprakash Associates' net profit declined 64.2% to Rs 110.93 crore on 15.3% growth in net sales to Rs 3398.39 crore in Q3 December 2012 over Q3 December 2011. Jaiprakash Associates is a diversified company with business interest in construction, power, cement, real estate and hospitality. Volumes jump at Essar Ports counter Tuni Textile Mills, Titagarh Wagons, Zee Entertainment Enterprises, and Kalindee Rail Nirman (Engineers) are among the other stocks to see a surge in volumes on BSE today, 26 February 2013. Essar Ports clocked volume of 19.14 lakh shares by 13:42 IST on BSE, a 87.54-times surge over two-week average daily volume of 22,000 shares. The stock rose 0.24% to Rs 85. Tuni Textile Mills notched up volume of 28.73 lakh shares, a 35.5-fold surge over two-week average daily volume of 81,000 shares. The stock lost 1.36% to Rs 29. Titagarh Wagons saw volume of 5.32 lakh shares, a 15.12-fold surge over two week average daily volume of 35,000 shares. The stock tumbled 5.76% to Rs 251.80. Zee Entertainment Enterprises clocked volume of 22.74 lakh shares, a 9.96-fold surge over two-week average daily volume of 2.28 lakh shares. The stock lost 0.21% to Rs 218.10 after two bulk deals aggregating 21.50 lakh shares were executed on BSE at Rs 219 per share at 9:55 IST. The two bulk deals constitute 0.22% of Zee Entertainment Enterprises' equity. Kalindee Rail Nirman (Engineers) saw volume of 16.43 lakh shares, a 9.44-fold rise over two-week average daily volume of 1.74 lakh shares. The stock tumbled 7.66% to Rs 73.50.