Equity Weekly Report By Ways2Capital 29 December 2014

INDORE, India - Dec. 30, 2014 - PRLog -- NSE WEEKLY NEWS UPDATE

✍ RIL, BP, Hardy Oil give up KG block
Reliance Industries (RIL), along with partners BP and Hardy Oil, has surrendered its discovered gas block KG-D3 in the Krishna-Godavari basin due to operational restrictions placed by the defence ministry. The basin is estimated to contain 500 billion cubic feet of in-place gas reserves. Hardy Oil, the consortium partner, cited the uncertainty over long-term natural gas pricing in India as one of the other reasons for the decision as well as the government-imposed gas price being lower than expected.

✍ GAIL, CIL ink deal for Rs 9k crore coal gas, urea plant
Odisha is set to get a Rs 9,000 crore booster dose of investment, with state-run Coal India Ltd and gas utility GAIL on Wednesday signing agreements to set up a plant in Talcher for synthesizing gas from coal and use it to make fertilizer. Rashtriya Chemicals and Fertilizers and Fertilizer Corporation of India would join Coal India and GAIL for setting up an integrated complex for coal gassification and manufacturing fertilizer and ammonium nitrate by 2019, fertilizer minister Ananth Kumar said after the companies signed joint venture agreements. Oil minister Dharmendra Pradhan said the upstream facility for producing syngas would cost Rs 3,000 crore and the integrated fertilizer plant Rs 6,000 crore.

✍ Govt approves 100% FDI in medical devices sector
The government on Wednesday allowed 100 per cent FDI under automatic route in medical devices sector to encourage manufacturing of equipments, including diagnostic kits and other devices. "Easing of norms for medical devices industry by creating special carve out in the extant FDI policy on pharma sector will encourage FDI inflows in this area," said an official statement issued after the Union Cabinet meeting here.

✍ UltraTech buys Jaypee cement units
Kumar Mangalam Birla-led Aditya Birla Group's flagship firm UltraTech Cement has decided to acquire two cement units of Jaiprakash Associates (JAL) with a combined capacity of 4.9 million tonnes per annum (mtpa) in Madhya Pradesh (MP) for an enterprise value of Rs 5,400 crore (around $860 million). The cement plants also include captive power plants with a combined capacity of 180 MW.
The move would fit into Kumar Mangalam Birla's stated ambition of having a cement capacity of 100 mtpa by 2020. UltraTech is India's largest cement maker with a capacity of 60 mtpa, which will increase to 65 mtpa post this acquisition and 71 mtpa by 2016 with projects underway. Aditya Birla group has also submitted a non-binding bid to acquire some of Holcim-Lafarge's cement assets in Brazil and a few other countries.


✍ GAIL to pay royalty on RIL gas price
State-owned GAIL India Ltd has been asked to pay royalty on the $1.41 per unit it is collecting on natural gas produced from Reliance Industries' eastern offshore KG-D6 fields. While announcing a 33 per cent hike in natural gas price to $5.61, the government had on October 17 said RIL will continue to get the old rate of $4.2 for the main D1&D3 gas field in KG-D6 block and the incremental $1.41 per unit will go into a gas pool account, managed by GAIL, till the dispute over fall in output is settled.

✍ FIIs inflow in Indian capital markets at Rs 2.6 lakh crore in 2014
Overseas investors have poured in over Rs 14,000 crore in the Indian capital markets this month so far, taking total inflows to a staggering Rs 2.6 lakh crore this year. The net investment by foreign investors into equities stood at Rs 3,430 crore (570 million) during December 1-19, while total inflows in the debt market during the same period were Rs 10,808 crore (1.75 billion), taking the total to Rs 14,239 crore ($2.3 billion), as per latest data.

✍ Investors told to put Rs 200 crore into SpiceJet by year-end
The government has asked troubled SpiceJet's potential investors, led by co-founder Ajay Singh, to put in at least Rs 200 crore into the airline by the year-end. Singh, who had sold his stake to current promoter Kalanithi Maran in 2010, is planning to pump in about Rs 1,300 crore along with a couple of global PE funds and re-acquire the airline.

✍ ONGC gets Rs 1,000cr VAT relief from Gujarat HC
The Oil and Natural Gas Corporation (ONGC) Ltd on Thursday received a major relief from the Gujarat high court (HC) which exempted it from paying value added tax (VAT) of Rs 1,000 crore to the state government.
ONGC supplies crude oil and petroleum products from its wells to Oil Marketing Companies (OMCs) like Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum and others. The sales invoice are raised based on the international prices, however, it sells crude to the OMCs at subsidized rate fixed by the Union government.

✍ MTNL raises Rs 3,768.97 crore through bonds this fiscal: Government
State-run MTNL has so far raised Rs 3,768.97 crore through bonds in the current financial year, Parliament was informed on Friday.
"MTNL has raised Rs 3,768.97 crore in FY 2014-15 i.e. Rs 2,268.90 crore on November 28, 2014 and Rs 15,00.07 crore on November 19, 2014 by selling bonds," communications and IT minister Ravi Shankar Prasad said in a written reply to the Rajya Sabha.

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