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PSU OMCs, aviation stocks in focus after fuel price hike

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PSU OMCs will be in focus as oil marketing companies hiked by 70 paise per litre and diesel by 50 paise a litre. The increase in rates, which are excluding local sales tax or VAT, will be effective from midnight today, 1 August 2013.

Also aviation stocks will be in focus as jet fuel or aviation turbine fuel (ATF) prices were on Wednesday hiked by a steep 6.3%, as a falling rupee made imports costlier, effective midnight today, 1 August 2013. Jet fuel constitutes over 40% of an airline's operating costs.

Auto and cement companies will start unveiling their monthly sales figures for July month starting today, 1 August 2013.

L&T said after market hours on Wednesday, 31 July 2013, that company has no immediate plans to sell upto 1% of the company's shareholding in L&T Finance Holdings (LTFH) on the floor of the stock exchanges to achieve the minimum level of public shareholding of 25% in LTFH. L&T said that the company is exploring various ways to achieve 25% minimum public shareholding in LTFH on or before the due date of compliance of minimum public shareholding which is 10 August 2014. The company said approval by the Securities Exchange Board of India (Sebi) to sell upto 1% of the company's shareholding in L&T Finance Holdings (LTFH) on the floor of the stock exchanges is only one of the several methods available to achieve 25% minimum public shareholding in LTFH.

United Spirits reported 18.5% fall in net profit to Rs 118.13 crore on 7.2% rise in total income to Rs 2270.43 crore in Q1 June 2013 over Q1 June 2012.

Neyveli Lignite Corporation (NLC) after trading hours on Wednesday, 31 July 2013, said that the Government of India (GoI) has fixed price band of Rs 58 to Rs 60 per share with respect to the institutional placement programme (IPP) of equity shares of the company to Qualified Institutional Buyers (QIB) by way of an offer for sale (OFS) by Government of India. The IPP transaction will be completed in one tranche on Friday, 2 August 2013. The divestment in NLC will be conducted through an institutional placement programme in which Tamil Nadu-based state entities would be given preference. Earlier this month, the market regulator Securities & Exchange Board of India (Sebi) had given the go-ahead to the disinvestment department's proposal to give preference in the share allotment to PSUs located in Tamil Nadu as Neyveli's generating units are located in Tamil Nadu.

Jagran Prakashan reported 16.88% rise in consolidated net profit to Rs 57.76 crore on 12.09% rise in operating revenue to Rs 413.06 crore in Q1 June 2013 over Q1 June 2012.

NHPC reported 7.48% rise in net profit to Rs 719.93 crore on 12.04% rise in total income to Rs 1867.92 crore in Q1 June 2013 over Q1 June 2012.

AIA Engineering turns ex-dividend today, 1 August 2013, for dividend of Rs 4 per share for the year ended 31 March 2013 (FY 2013).

Container Corporation of India turns ex-dividend today, 1 August 2013, for final dividend of Rs 9.50 per share for the year ended 31 March 2013 (FY 2013).

JB Chemicals & Pharmaceuticals turns ex-dividend today, 1 August 2013, for dividend of Rs 3 per share for the year ended 31 March 2013 (FY 2013).

Adani Ports & Special Economic Zone, Adani Power, Bank of Baroda, Castrol India, Cummins India, GlaxoSmithkline Consumer Healthcare, Glenmark Pharmaceuticals, Idea Cellular, J&K Bank, Power Grid Corporation, Reliance Communications, Tata Global Beverages, Titan Industries and Union Bank of India among others will announce their April to June 2013 quarterly results today, 1 August 2013.

JK Tyre & Industries turns ex-dividend today, 1 August 2013, for dividend of Rs 3.50 per share for the year ended 31 March 2013 (FY 2013).

CMI FPE, one of CMI Industry's Indian subsidiaries, after market hours on Wednesday, 31 July 2013 said it has entered into an agreement with AI Ghurair Iron & Steel (AGIS), United Arab Emirates, to supply a new skin pass mill (SPM) as well as a new continuous galvanizing line (CGL) equipped with the patented CMI Blowstab technology. With these additional lines, CMI FPE enables AGIS' capacity for galvanized production to double from existing 200000 mts to 400,000 mts annually. The new processing line will supply galvanized coils from 0.20 mm to 1.20 mm. CMI FPE will also help AGIS to boost the color coating industry in the Middle East with the new SPM. CMI FPE is to commission these two new processing lines within 22 months. The patented CMI Blowstab technology for jet coolers and after-pot coolers will be integrated with the new galvanizing line and will further improve efficient cooling of strip and zinc coating uniformity, CMI FPE said.

TANFAC Industries' board of directors at a meeting held on Wednesday, 31 July 2013, considered and approved a proposal for the issue of equity shares at face value of Rs 10 each at par on rights basis for an amount not exceeding Rs 14.96 crore to be offered to eligible equity shareholders of the company subject to approval by the members at their General Meeting and also the necessary statutory approvals/sanctions.

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