Bharat Heavy Electricals has successfully commissioned
600 MW thermal unit in Chhattisgarh. The unit was commissioned at Dainik
Bhaskar Power's upcoming 2x600 MW thermal power project located at Dhabra in
Janjgir Champa District of Chhattisgarh. This is the second unit of the power
project, commissioned by Bhel. The first 600 MW unit was successfully
commissioned by the Company in 2014.
CPI data for March 2014 will be out on 13 March
(Monday) and consensus estimates stands at 5.44% Vs 5.37% in Feb 2015.
The country's two largest mortgage lenders SBI and
HDFC Limited has reduced their home loan rates for retail
borrowers. HDFC has brought down its lending rate by 20 basis points with
effect from April 13 and following the reduction the company will extend loans
at 9.9%.HDFCs cost of funds is likely to decline post reduction in base rate by
banks and drop in wholesale borrowings rates and largely neutral for spreads.
SBI too reduced home loan rates by upto 25 bps but for new borrowers hence may
not have significant impact on NIMs.
Tamil Nadu Newsprint and Papers Ltd (TNPL) is planning
to set up a 30 mega watt (MW) power plant with an investment of around
Rs150crore. It will cater to the upcoming Rs1,500crore multilayer paper board
manufacturing plant, which is expected to be ready by the end of 2015. –
Positive for TNPL.
RPP Infra Projects gained over 8%, touching to
Rs162.9, after the company said it has bagged new order worth Rs46.53 crore
from Hindustan Prefab an Government of India Enterprise.
The order is for construction of 2071 prefabricated
toilet blocks for government schools in the state of Andhra Pradesh, RPP Infra
Projects said.
Apollo Tyres has commenced construction at its
upcoming facility in Hungary. The company plans to invest Euro 442 million in
Hungary and the production is expected to commence in early 2017. Positive for
the company.
Maruti Suzuki has targeted a growth of 10-11% in
domestic sales for FY16. Along with exports the company targets to sell
1.44million vehicles in FY16 which is in-line with our estimates.
The company has lined up a utility vehicles, a compact
diesel car, a small commercial vehicle and a premium hatchback for launch
during the year. Positive for the company.
·
Positive surprise on IIP, growth improves to 5% in Feb 2015rts
production in Panipat Unit :
Industrial production grew at 5% in February, which
was higher than market estimates and close to 18 month high.This was mainly on
account of improvement in manufacturing activity (up 5.2% Vs 3.3% MoM), a rebound
in consumer non-durables (10% Vs -0.1% MoM) and also due to a lower base
effect. The pick in IIP suggests, revival in industrial segment which is key to
improvement in economic growth.
As per media reports, Hero MotoCorp is planning to
launch a new metal body scooter in July 2015 which is targeted at the market
leader Honda’s Activa. The company has delayed its motorcycle launch so as to
focus on the scooter segment. The new scooter will have added features such as
telescopic shock absorbers, digital console and integrated braking. View: The
added focus of Hero MotoCorp on the scooter segment augurs well for the
company. We continue to remain positive on the stock.
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