During Feb 07, Nagarjuna Construction allotted 2.5m warrants to promoters (M/s. A V S R Holdings Private Ltd), with option to convert into equity shares at Rs217/share, within 18 months, entailing cash inflow of Rs543m. As the promoters have not paid the amount within stipulated time frame,warrants have lapsed and this comes as a negative surprise to us. NCC had received 10% upfront payment of Rs54m, which will now be forfeited. (more…)
Month: September 2008
Stocks held by AIG in India
American International Group (AIG) too has been facing liquidity crisis and has been working on plans to raise capital after its three straight quarterly losses totally $18.5 billion. It has also asked Federal Reserve for a $40 billion bridge loan. Below, we enlist the holdings of AIG in India, which could face pressure in case of liquidation.
Name of the Indian Company, Investment Arm of AIG and finally percentage shares held in the company.
AIA Engg AIG Global Investment Corporation 1.16
AIA Engg AIG Global Investment Corporation 1.26
AIA Engg AIG Global Investment Corporation 1.3
Bharati Shipyard AIG Trustee Company India Pvt Ltd 1.19
Bharati Shipyard Aig Trustee Company India Pvt Ltd 1.14
Bharati Shipyard AIG Trustee Company P Ltd – AIG India Equity Fund 1.32
Federal Bank AIG Global Investment Partners LP 1.0
Gayatri Projects AIG Trustee Company India Pvt Ltd 1.4
Gayatri Projects AIG Trustee Company India Pvt Ltd 2.07
Gokaldas Exports Aig Trustee Company India Pvt Ltd 1.05
Gokaldas Exports Aig Trustee Company India Pvt Ltd 1.12
Indo Tech AIG Global Investment Corpn Asia 2.12
Ipca Labs. AIG Trustee Company India Pvt Ltd 2.0
Ipca Labs. AIG Trustee Company India Pvt Ltd 1.4
Kolte Patil Developers AIG Trustee Company India Pvt Ltd 1.06
Mindtree Ltd AIG Offshore Systems Service Inc 3.27
Mindtree Ltd AIG Offshore Systems Service Inc 3.28
Mindtree Ltd AIG Offshore Systems Service Inc 3.33
NIIT Tech. AIG Global Investment Corp 1.7
NIIT Tech. AIG Global Investment Corp 2.29
NIIT Tech. AIG Global Investment Corporation 1.5
Nucleus Software AIG Global Investment Corporation 1.58
Sun Pharma Advan AIG Global Investment Corporation Asia Ltd 1.17
Sun Pharma Advan AIG Global Investment Corporation Asia Ltd 1.81
Sun Pharma Advan AIG Global Investment Corporation Asia Ltd 2.39
Unity Infra AIG Global Investment Corporation (ASIA) 1.05
Merrill Holding in Indian Stocks
Here is the tentative holding of Merill Lynch in various Indian companies. Name of the company followed by stake in percentage.
Resurgere Mines 10.51 Intellvisions Sf 10
Kewal Kiran Clot 9.74 Taneja Aerospace 9.47
Parekh Aluminex 8.31 Vakrangee Soft. 7.74
HOV Services 7.34 Pratibha Inds 7.19
Broadcast Init 6.73 Classic Diamonds 6.5
Northgate Techno 6.06 Pokarna 5.95
Educomp Solution 5.7 Orchid Chemicals 5.31
BSEL Infrastruc. 5.18 Shree Renuka Sug 5.11
Horizon Infrastr 4.97 Tulip Telecom 4.88
Prakash Inds. 4.66 Arihant Foundatn 4.63
United Spirits 4.6 Marg 4.39
Divi’s Lab 4.33 Asahi Songwon 4.32
CHI Investments 4.21 Suprajit Engg. 4.2
Ansal Housing 4.18 Prajay Engg. 4.06
Panacea Biotec 3.95 Lancor Holdings 3.84
Matrix Labs. 3.74 Jupiter Bio. 3.72
Zodiac Cloth. Co 3.72 CEAT 3.69
HTMT Global 3.52 GRUH Finance 3.46
Unity Infra 3.33 Tanla Solutions 3.25
Bajaj Hindusthan 3.24 Nucleus Software 3.19
NIIT Tech. 3.12 Allsec Tech 3.11
Steel Str. Wheel 3.03 Ganesh Housing 2.95
MSK Projects 2.91 Cranes Software 2.9
Indiabulls Fin. 2.87 Stone India 2.86
Mahindra Lifespace 2.84 Wire & Wireless 2.77
Shasun Chemicals 2.73 Nitco 2.72
Asian Electronic 2.68 Action Construct 2.64
Indoco Remedies 2.62 Gremach Infra 2.6
Navin Fluorine 2.6 Bhagyanagar Indi 2.59
ICICI Bank 2.59 Ador Welding 2.57
Aptech 2.57 Infotech Enterpr 2.56
Bharati Shipyard 2.55 Rohit Ferro 2.44
Take Solutions 2.36 Deep Industries 2.34
Strides Arcolab 2.34 Modison Metals 2.28
J Kumar Infra 2.24 ICSA (India) 2.19
S Kumars Nation 2.18 Salora Intl. 2.17
IFSL 2.14 TTK Prestige 2.13
Patni Computer 2.11 Puravankara Proj 2.1
Bilpower 2.09 Royal Orchid Hot 2.06
Jyoti Structures 2.05 McNally Bharat 2.04
Redington India 2.04 Vimta Labs 2.04
Ansal Properties 2.02 Great Offshore 2
Prithvi Info 2 Sonata Software 2
Capital Goods Sector Boost July IIP – Below Average Rainfall
We all know that the July-08 India Industrial Production was at 7.1% from 5.4% the previous month. The key reason for the higher than expected rise in the July was the rebound in capital goods up 22% – nearly twice the growth seen earlier this fiscal. Capital goods have a weight age of 9.3% in the overall index of industrial production. There are 53 items that are classified under capital goods and as seen in the table below, 17 of these items recorded growth rates in excess of 25% in Jul08 over Jul07. These include ship building, offshore platforms, turbines, and electric generators.
Rainfall during June 1 to Sept 10 remained 3% below normal. Crop sowing data is also unsatisfactory with sowing down 3% YoY. Our GDP forecasts for FY09 factor in marginally lower agriculture growth of 2% with headline GDP at 7.5%.
Suzlon Energy secures Martifer contract
Suzlon Energy A/S, Denmark, the wholly-owned subsidiary of Suzlon Energy, has secured a major contract with Martifer for the delivery of 29 S88-2.l MW turbines, totaling a capacity of 60.9 MW, to projects in Romania.
This order is company’s first wind turbine order in Romania. In addition, the company and Martifer have also signed a contract for wind power development in Portugal, supplying nine S88 turbines between the Baiao and Vila Franca de Xira wind farms for a total 18.9 MW of capacity.
Core sector growth slows down to 4.3%
Growth of core sector industries has slowed down to 4.3% in July compared to 7.2% during same month of the last fiscal. For the four month period of April-July 2008, growth was registered at 3.7% compared to 6.6% during the same period last year. The following chart shows the comparison between July-07 and July-08.
However, the growth in July was better than the average growth during the first three months of current fiscal. The main contributor to the growth was coal that grew at 5.5% compared to 1.1% last year. The only other industry to show greater growth on a year-on-year basis was petro products, which grew at 11.8% in July compared to 4.7% last year.
All other core sector industries registered a slower growth compared to July last year, with crude putting the worst show by posting a negative growth of 3% compared to 0.9% last year. Steel was another industry that disappointed with merely 1.9% growth compared to 10.8% last year.