Copper Recovers Following Better Housing Starts Data From US

         US acted as a savior for metals as its economic numbers were cheered by traders. Buyers were brought back in the markets after US reported that the housing starts rose to 1.036 million in the month of March from 0.939 million in the month of February 2013.
         Industrial production data from US also overtook analysts expectations. The Industrial production in US rose 0.4 percent in March unlike analysts expectations of 0.2 percent. The production was higher than expected but lower from 1.1 percent in the month of February, which was ignored by the markets.
         In another news, Glencore merger roadmap with Xstrata is certain after the Chinese Ministry of Commerce of the Peoples Republic of China (MOFCOM) cleared the deal worth $ 30 billion. The Antimonopoly law of China was the last hurdle in between the acquisition of Xstrata by Glencore.
         The MOFCOM has said that the post merger ownership assets in Las Bambas Copper project of Peru must be sold before 30 September 2014 for pre determined price. Glencore will start the sale process and make a announcement for sale of its ownership interest. Along with this, Glencore will supply Copper to Chinese customers for the period of eight years from 1 January 2013.
         Meanwhile, BHP Billiton nine month ending 31 March 2013 production report was released. The company said that Copper in concentrate production at Escondida increased by 61% during the nine month period ended March 2013.
        Total Escondida copper production remains on track to increase by at least 20% in the 2013 financial year. BHP Billiton production increased by 15 per cent from the December 2012 quarter and reflected a temporary increase in the grade profile at Antamina.
         LME three month Copper prices settled at $ 7250 per tonne, up $ 92 per tonne on Tuesday. MCX Copper settled at Rs 394.6 per kg. The prices are resisted at Rs 396.5 and 397 per kg. Supports for the contract are at Rs 388 and 385 per kg.[via]

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Gold Down Slightly On Profit Taking

         Gold futures are trading down slightly in the Asia electronic session today on profit taking after posting gains of nearly 2% in the US floor trading.
         Gold for June delivery is trading down $8 at $ 1379 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it rose $26.30, or 1.9%, to settle at $1,387.40 an ounce.
        On Monday it plunged $140.30, or 9.3%, to $1,361.10 an ounce. The slide marked the precious metal’s biggest one-day percentage drop since February 1983. Gold’s one-day dollar drop was the biggest since January 1980 and the second-largest in its history.
        The bulk of the selloff occurred on Monday, which marked the largest one-day loss since the 1980s and prompted an increase in the amount of money investors needed to trade gold-futures contracts. Including Friday’s loss, the metal saw a two-session drop of more than $200 an ounce, or 13%.
        U.S. economic data Tuesday showed a deceleration in consumer inflation. They also showed a jump in construction of new homes and an increase in industrial production.
        Sentiment in gold has suffered after recent cuts to price forecasts for the metal, as well as outflows from gold exchange-traded products. Last week, the investment bank lowered its average gold-price forecast for 2013 to $1,545 an ounce, a level the metal took out on Friday.
       On Tuesday, Goldman cut its short-term stop on gold to $1,400 an ounce and said recent exchange-traded-fund holdings show “acceleration in the liquidation of length, which points to a broad-based selloff extending beyond the futures markets, with potential more room to go.”
      MCX June gold futures may open today’s session near Rs 25800 levels with resistance near Rs 25900-26000 levels and support near Rs 25700 levels. [via]

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Oil Stays Flat Ahead Of Inventories

       Crude oil futures stayed flat in the Asia electronic session today with the traders awaiting the weekly oil inventories data from the U.S. Energy Information Administration due later today.
       May crude oil futures are trading flat at $88.72 a barrel on the New York Mercantile Exchange. Yesterday, it added a penny to settle at $88.72 a barrel, after touching intraday lows under $87. Prices had tallied a loss of more than 6% over the past three trading sessions.
      Nymex oil on Monday dropped $2.58, or 2.8%, to $88.71 a barrel, the lowest settlement for a most-active contract since late December. Oil and other commodities sank Monday after quarterly economic growth and monthly industrial production numbers from China came in weaker than anticipated. The figures ramped up worries that demand for commodities, including oil, will soften.
      The International Monetary Fund on Tuesday trimmed projections for global economic growth for this year and next to take into account sharp government spending cuts in the United States and the latest struggles of recession-stricken Europe.
      While it said economic prospects had improved in recent months with a fading of financial risks, it warned Europe against relaxing efforts to combat its debt crisis given the messy bailout in Cyprus and a political stalemate in Italy.
      Highlighting those concerns, the International Energy Agency and the Organization of the Petroleum Exporting Countries last week reduced their global oil-demand growth estimates for the year slightly.
      Data from the American Petroleum Institute (API) showed total weekly U.S. crude stocks down by 6.7 million barrels, in contrast to a Reuters survey in which analysts forecast a rise of 1.3 million.
      The APIs report put gasoline stocks up by 253,000 barrels and distillate stocks up by 1.3 million barrels. Stocks of U.S. crude at Cushing, Oklahoma, the delivery point for the U.S. crude contract, were up by 1.1 million barrels.
      The more closely watched data from the U.S. government agency, the Energy Information Administration, will be released Wednesday at 10:30 a.m. EDT (1430 GMT).
      MCX April crude oil futures may open today’s session near Rs 4800 with resistance near Rs 4825 levels and support near Rs 4780 levels. [via]

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US Stainless Steel Products Up 7.1 Percent In February 2013

       
         The US shipments of stainless steel products totaled 168,901 tons in February, rising by 7.1% from January 2013. This is the highest level since March, 2011. Among the total stainless steel products shipped, 96306 tons were cold rolled stainless steel sheets, increasing by 13.7%; 25898 tons were cold rolled stainless steel strips, falling by 2.7% and 8256 tons were hot rolled stainless steel sheets, decreasing by 12.6%, all compared to those in a month ago. [via]

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China To Close Down 7.8 Million Tonnes Of Steel Making Capacity

          Struggling Ministry of Industry and Information Technology (MIIT) is forced to close down outdated steel capacity. Slowness in demand and huge inventories of steel has been dragging steel industry down for long time. China is planning to close down 7.81 million metric tonnes of steel making capacity in 2013.
         Total crude steel capacity in China is estimated to have increased by 900 million tonnes. Crude steel output increased by 3 percent to 717 million tonnes in 2012. Ministry is also planning to shut down 14.05 million tonnes of coking coal capacity and 1.73 million tonnes of ferroalloy capacity in 2013.
         This is not the only shutdown planned by the Ministry. It also plans to shut down 273000 tonnes of Aluminium, 665000 tonnes of Copper and 879000 tonnes of lead smelting capacity in 2013. The overcapacity burden in China is so much that it has brought down the demand of the metals. China industrial production also took a backseat recently. [via]

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Jeera closes lower on sluggish demand

            Jeera prices closed lower by 1.87 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for April 2013 contract closed at Rs. 13,280 per quintal, down by 1.87 per cent, after opening at Rs. 13,360 against the previous closing price of Rs. 13,532.5. It touched the intra-day low of Rs. 13,280.
          Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
          India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey. [via]

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RIL plummets on reporting revenue drop in Q4

             Reliance Industries (RIL) is currently trading at Rs 786.75, down by 17.75 points or 2.21% from its previous closing of Rs 804.50 on the BSE.
            The scrip opened at Rs 805.10 and has touched a high and low of Rs. 810.00 and Rs. 781.70 respectively. So far 348928 shares were traded on the counter.
            The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs. 954.80 on 21-Jan-2013 and a 52 week low of Rs. 671.00 on 08-May-2012.
            Last one week high and low of the scrip stood at Rs. 809.50 and Rs. 765.00 respectively. The current market cap of the company is Rs. 254148.12 crore.
            The promoters holding in the company stood at 45.34% while Institutions and Non-Institutions held 28.69% and 22.55% respectively.
            The company has posted a rise of 31.94% in its net profit at Rs 5,589 crore for the quarter ended March 31, 2013 as compared to Rs 4,236 crore for the same quarter in the previous year. However, total income of the company has decreased marginally by 1.18% at Rs 86,441 crore for quarter under review as compared to Rs 87,477 crore for the quarter ended March 31, 2012.
            For the full year ended March 31, 2013, the company has posted a rise of 4.81% in its net profit at Rs 21,003 crore as compared to Rs 20,040 crore for the same period in the previous year. Total income has increased by 9.58% at Rs 368,295 crore for year under review as compared to Rs 336,096 crore for the period ended March 31, 2012.
            For the full year ended March 31, 2013, on consolidated basis, the company has posted a rise of 5.86% in its net profit after taxes, minority interest and share of profit / (loss) of associates at Rs 20,879 crore as compared to Rs 19,724 crore for the same period in the previous year. Total income increased by 11.03% at Rs 4,04,862 crore for year under review as compared to Rs 3,64,625 crore for the period ended March 31, 2012. [via]

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HCL Technologies strengthens on reporting 2-fold rise in Q3 standalone net profit

             HCL Technologies is currently trading at Rs 776.25, up by 13.55 points or 1.78% from its previous closing of Rs 762.70 on the BSE.
             The scrip opened at Rs 804.00 and has touched a high and low of Rs 809.00 and Rs 763.00 respectively. So far 170279 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 809.00 on 03-Apr-2013 and a 52 week low of Rs 453.90 on 26-Jun-2012.
             Last one week high and low of the scrip stood at Rs 809.00 and Rs 736.65 respectively. The current market cap of the company is Rs 53092.92 crore.
             The promoters holding in the company stood at 61.99% while Institutions and Non-Institutions held 30.88% and 7.13% respectively.
             HCL Technologies has reported results for third quarter ended March 31, 2013
             On standalone basis, the company has posted over 2-fold rise its net profit at Rs 832.96 crore for the quarter ended March 31, 2013 as compared to Rs 400.15 crore for the same quarter in the previous year. Total income of the company has increased by 36.78% at Rs 3004.06 crore for quarter under review as compared to Rs 2196.27 crore for the quarter ended March 31, 2012.
             HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. [via]

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Valecha Engineering surges on bagging projects worth Rs 316.87 crore

             Valecha Engineering is currently trading at Rs. 50.55, up by 3.90 points or 8.36% from its previous closing of Rs. 46.65 on the BSE.
             The scrip opened at Rs. 48.40 and has touched a high and low of Rs. 50.55 and Rs. 48.40 respectively. So far 4,376 shares were traded on the counter.
             The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 67.80 on 16-Jan-2013 and a 52 week low of Rs. 42.50 on 25-Mar-2013.
             The current market cap of the company is Rs. 98.00 crore.
             The promoters holding in the company stood at 48.71% while Institutions and Non-Institutions held 5.43% and 43.96% respectively.
            Valecha Engineering, a leading infrastructure development company has bagged projects worth Rs. 316.87 crore. The project is for construction of Rafti Main Canal and its distribution system including all earth work and Pucca works between KM 114.00 to 125.682 in Uttar Pradesh.
            Valecha Engineering is engaged in the construction of major infrastructure and engineering projects such as irrigation dams, reservoirs and canals, roads, highways and expressways, bridges and tunnels, railways, airports and foundation and piling works. [via]

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IL&FS Transportation surges as its arm receives completion certificate for Hazaribagh - Ranchi section

             IL&FS Transportation is currently trading at Rs. 183.00, up by 3.50 points or 1.95% from its previous closing of Rs. 179.50 on the BSE.
             The scrip opened at Rs. 179.00 and has touched a high and low of Rs. 183.40 and Rs. 179.00 respectively. So far 1, 04,000 shares were traded on the counter.
             The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 227.00 on 09-Jan-2013 and a 52 week low of Rs. 156.60 on 13-Sep-2012.
            Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 175.25 respectively. The current market cap of the company is Rs. 3,555 crore.
           The promoters holding in the company stood at 72.46% while Institutions and Non-Institutions held 7.54% and 20.00% respectively.
            IL&FS Transportation Networks - Hazaribagh - Ranchi section of NH-33 from km 40.500 to 114.00 in the State of Jharkhand (“the Project”) being implemented by the subsidiary of the company has been issued a Provisional Completion Certificate by the Competent Authority effective September 15, 2012.
           The Project has been commissioned 134 days ahead of Scheduled Project Completion Date i.e. January 27, 2013. The company shall receive from NIIAI, a semi-annual annuity of Rs 64.08 crore for a period of 15.5 years effective September 15, 2012. In addition, the company shall also receive a one-time Bonus Annuity of Rs 47.70 crore for early completion of the Project.
           IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan. [via]

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Mahindra & Mahindra trades in green on the BSE

             Mahindra & Mahindra is currently trading at Rs. 839.20, up by 25.75 points or 3.17 % from its previous closing of Rs. 813.45 on the BSE.
             The scrip opened at Rs. 815.00 and has touched a high and low of Rs. 843.00 and Rs. 809.00 respectively. So far 80241 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 974.80 on 10-Jan-2013 and a 52 week low of Rs. 621.75 on 18-May-2012.
             Last one week high and low of the scrip stood at Rs. 855.00 and Rs. 809.30 respectively. The current market cap of the company is Rs. 51672.62 crore.
            The promoters holding in the company stood at 25.30% while Institutions and Non-Institutions held 49.26% and 19.99% respectively.
             Mahindra and Mahindra's workers of engine facility at Igatpuri continued tools down strike for the eighth day, with both the management and the union refusing to blink first. This strike has already suffered a production loss of around 5,000 units due to the ongoing agitation.
             The workers are firm on their demand that the two suspended workers be immediately taken back. On the other hand the management has put a condition that the suspended workers will be reinstated only after the agitation is called-off and work at the plant resumes. [via]

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HDFC Bank spurts as FII hike stake during March quarter

          HDFC Bank is currently trading at Rs. 662.90, up by 20.55 points or 3.20% from its previous closing of Rs 642.35 on the BSE.
          The scrip opened at Rs 644.70 and has touched a high and low of Rs 662.90 and Rs 642.65 respectively. So far 89865 shares were traded on the counter.
          The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 705.00 on 30-Nov-2012 and a 52 week low of Rs 482.30 on 23-May-2012.
         Last one week high and low of the scrip stood at Rs 646.00 and Rs 618.00 respectively. The current market cap of the company is Rs 157006.42 crore.
         The promoters holding in the company stood at 22.83 % while Institutions and Non-Institutions held 42.66 % and 17.43 % respectively.
          Foreign Institutional Investors (FIIs) upped their holding in HDFC Bank from 33.66% to 34.07% during the January-March 2013 quarter. Additionally, the non-institutional investors (NIIs), which include small retail investors and HNI’s, too increased their stake marginally during the same quarter from 17.3% to 17.43%.
          HDFC Bank is one of India's premier banks providing a wide range of financial products and services to its 21 million customers across hundreds of Indian cities using multiple distribution channels including a pan- India network of branches, ATMs, phone banking, net banking and mobile banking. It currently has 2,776 branches and 10,490 ATMs across the country. [via]

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ITC trades with traction on the buzz of hiking select cigarette brands’ prices

             The scrip opened at Rs. 299.55 and has touched a high and low of Rs. 305.70 and Rs. 298.00 respectively. So far 133929 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 310.75 on 04-Feb-2013 and a 52 week low of Rs. 224.25 on 08-May-2012.
             Last one week high and low of the scrip stood at Rs. 305.70 and Rs. 281.15 respectively. The current market cap of the company is Rs. 240689.84 crore.

The Institutions and Non-Institutions held 52.48% and 47.22% stake in the company, respectively.

             ITC reportedly has increased prices of select cigarette brands. The company has hiked the prices of Wills Navy Cut by Rs 10 for the pack of 10 while, increased the prices of Gold Flake Kings by Rs 20 for the pack of 20. The prices have been hiked mainly to offset the effect of higher VAT and excise duty on cigarettes.

             Earlier in this month, the company had hiked the prices of Classic and Kings Cigarette by Rs 20 for the pack of 20.

             ITC is a diversified conglomerate has business interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products. [via]
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Tata Communications gains on entering into multi-year agreement with Vinci Park

          The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 266.35 on 26-Jul-2012 and a 52 week low of Rs. 190.65 on 22-May-2012.
          Last one week high and low of the scrip stood at Rs. 232.70 and Rs. 221.50 respectively. The current market cap of the company is Rs. 6492 crore.
          The promoters holding in the company stood at 76.15% while Institutions and Non-Institutions held 15.57% and 3.31% respectively.
           Tata Communications has entered into multi-year agreement with parking specialists Vinci Park to bring high-speed network connectivity to more than 500 car parks across France. This technology implementation will enable Vinci Park to centrally manage and monitor its facilities across the country. The system, designed by Tata Communications, will enable Vinci Park to continue providing its customers with a high-quality service, while managing all its business critical applications over a single network.
          Tata Communications is a leading global provider of a new world of communications. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers. [via]

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Maruti Suzuki shines on unveiling limited edition Dzire Regal priced at Rs 5.95 lakh

            Maruti Suzuki India is currently trading at Rs. 1463.00, up by 39.50 points or 2.77% from its previous closing of Rs. 1423.50 on the BSE.
            The scrip opened at Rs. 1420.00 and has touched a high and low of Rs. 1467.70 and Rs. 1414.00 respectively. So far 41,000 shares were traded on the counter.
            The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1637.60 on 06-Feb-2013 and a 52 week low of Rs. 1052.00 on 04-Jun-2012.
            The current market cap of the company is Rs. 42,267.00 crore.

            The promoters holding in the company stood at 54.21% while Institutions and Non-Institutions held 37.48% and 8.31% respectively.
            India’s largest car maker, Maruti Suzuki India has unveiled the limited edition Dzire Regal priced at Rs 5.95 lakh (ex-showroom, Mumbai). The new variant will be available on the VXi trim and comes with updates both inside and out. However, the company hasn't change the engine mechanics.
            The Exteriors of Swift Dzire Regal gets a new Serene Blue paint colour, body graphics, fog lamps and wing mirrors, silver-finish treatment to the upper and lower grille, parking sensors and a body-coloured mud flaps. The interiors too gets some additional comfort features like an integrated audio system with tweeters and auto volume control, wood inserts on the armrests, stainless-steel door sills, car perfume etc.
            Recently, the company had launched a new version of SX4 to strengthen its presence in the mid-size sedan segment. [via]

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Reliance Infrastructure soars as its arm enters into Amravati market

             Reliance Infrastructure is currently trading at Rs. 362.25, up by 7.50 points or 2.11% from its previous closing of Rs. 354.75 on the BSE.
             The scrip opened at Rs. 351.10 and has touched a high and low of Rs. 364.90 and Rs. 351.00 respectively. So far 4, 88,000 shares were traded on the counter.
             The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 593.80 on 18-Apr-2012 and a 52 week low of Rs. 315.00 on 28-Mar-2013.

             Last one week high and low of the scrip stood at Rs. 360.40 and Rs. 321.80 respectively. The current market cap of the company is Rs. 9,431 crore.

            The promoters holding in the company stood at 48.53% while Institutions and Non-Institutions held 36.62% and 14.30% respectively.

            Anil Ambani-led Reliance Infrastructure’s business unit, Reliance Cement Company (RCC) has entered into the Amravati market in Maharashtra, in order to sell the building material produced from its Butibori plant in the state. RCC is also planning to enter into Wardha, Chandrapur and Bhandara markets of the western state in the near future.

           At present, the entity is setting up two plants of five million tonnes annual capacity each in Madhya Pradesh and Maharashtra. It will be entering these markets from limited production that has already started at its Maharashtra plant. The Madhya Pradesh unit is likely to go on stream within the current fiscal. The company is investing Rs 6,000 crore in these two plants. [via]

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Jaiprakash Associates shines on plan to sell Gujarat-based cement units for Rs 4,000 crore

              Jaiprakash Associates is currently trading at Rs. 73.70, up by 1.25 points or 1.73% from its previous closing of Rs. 72.45 on the BSE.

              The scrip opened at Rs. 71.90 and has touched a high and low of Rs. 74.05 and Rs. 71.55 respectively. So far 707650 shares were traded on the counter.

              The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 106.75 on 12-Dec-2012 and a 52 week low of Rs. 58.05 on 24-May-2012.

               Last one week high and low of the scrip stood at Rs. 74.05 and Rs. 63.05 respectively. The current market cap of the company is Rs. 16265.88 crore.

               The promoters holding in the company stood at 44.74% while Institutions and Non-Institutions held 36.73% and 18.53% respectively.

               In a bid to reduce its debt pile, Jaiprakash Associates is planning to sell its Gujarat-based cement units for Rs 4,000 crore. The company’s consolidated debt stood at Rs 53,174 crore as of March 2011. Its standalone debt, as of September 2012, was Rs 19,549 crore.

               Earlier, the company was in talks with the Birlas to sell the cement units. However, as its expected valuation of $170 a tonne was very high, it failed to seal the deal.

               Jaiprakash Associates, in last year, divested its cement units in Gujarat and Andhra Pradesh into a separate company, Jaypee Cement, in order to monetize a part of its investments to help the parent company reduce its debt. Jaypee group’s cement division currently operates modern, computerized process control cement plants with an aggregate capacity of 21.3 MTPA.3 [via]

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BPCL strengthens on planning to invest Rs 32,500 crore for capacity expansion

            Bharat Petroleum Corporation is currently trading at Rs 399.25, up by 4.55 points or 1.15% from its previous closing of Rs. 394.70 on the BSE.

           The scrip opened at Rs. 397.60 and has touched a high and low of Rs 403.10 and Rs 397.00 respectively. So far 49555 shares were traded on the counter.

            The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 449.00 on 21-Jan-2013 and a 52 week low of Rs 315.60 on 26-Nov-2012.

             Last one week high and low of the scrip stood at Rs 406.00 and Rs 365.10 respectively. The current market cap of the company is Rs 28923.37 crore.

            The promoters holding in the company stood at 54.93% while Institutions and Non-Institutions held 27.81% and 17.26% respectively.

            State-run Bharat Petroleum Corporation (BPCL) is reportedly planning to expand its refining capacity from the current 30.5 million tonnes (mt) to 47.5 mt in the next three-four years. In this regard, the company will invest Rs 32,500 crore. Of total, the company will spend Rs 10,000 crore on its Numaligarh refinery to expand its capacity from 3 mt to 9 mt.

            Further, the company will expand capacity of its Mumbai refinery from 12 mt to 14 mt through change of its crude oil distillation unit. The company’s Kochi refinery will expand from 9.5 mt to 15.5 mt at a capex of Rs 15,000 crore by December 2015 while, the Bina refinery at Madhya Pradesh will expand from 6 mt to 9 mt by de-bottlenecking at Rs 2,500 crore by the same period.[via]

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Mahindra Satyam inches up on plan to acquire firm in South Africa

         Mahindra Satyam is currently trading at Rs. 111.25, up by 0.10 points or 0.09% from its previous closing of Rs. 111.15 on the BSE.

         The scrip opened at Rs. 110.55 and has touched a high and low of Rs. 112.15 and Rs. 110.55 respectively. So far 101645 shares were traded on the counter.

         The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 131.20 on 28-Mar-2013 and a 52 week low of Rs. 66.25 on 17-May-2012.

         Last one week high and low of the scrip stood at Rs. 118.40 and Rs. 110.90 respectively. The current market cap of the company is Rs. 13138.95 crore.

         The promoters holding in the company stood at 42.63% while Institutions and Non-Institutions held 39.45% and 17.92% respectively.

         Mahindra Satyam is planning to acquire a company in South Africa. The IT company is increasing its presence in Africa, Latin America and Asia through acquisitions and partnerships. It has taken this decision, as Africa, Asia and Latin America are emerging as dependable markets for Indian IT companies.

        The entity had acquired a majority stake in Brazilian company Complex IT, a strong SAP consulting player in the region, in February this year. Other than tapping the domestic market in Brazil, it aims to position it as a global delivery centre for its customers in Latin America.

        Mahindra Satyam is a global business consulting and information technology services company leveraging deep industry and functional expertise, leading technology practices and a global delivery model to help businesses transform their processes and improve performance. [via]

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GAIL strengthens on aiming to boost LNG portfolio

            GAIL (India) is currently trading at Rs. 319.95, up by 2.60 points or 0.82% from its previous closing of Rs. 317.35 on the BSE.

            The scrip opened at Rs. 318.40 and has touched a high and low of Rs. 320.80 and Rs. 317.40 respectively. So far 23974 shares were traded on the counter.

            The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 396.00 on 05-Oct-2012 and a 52 week low of Rs. 300.40 on 26-Mar-2013.

            Last one week high and low of the scrip stood at Rs. 322.80 and Rs. 310.20 respectively. The current market cap of the company is Rs. 40584.93 crore.

           The promoters holding in the company stood at 57.34% while Institutions and Non-Institutions held 38.68% and 2.92% respectively.

           GAIL is expected to expand its liquefied natural gas (LNG) portfolio to 20 million tonnes a year in the next seven years. The company plans to boost LNG portfolio via acquisitions and supply deals so that it can increase trading of the super-cooled gas.

           The state run firm has already tied up supplies for nearly 15 million tonnes a year. But supply agreements on some of that capacity is set to expire in the next few years, after that it will have to strike fresh deals to replace that.

           GAIL is India's flagship natural gas company integrating all aspects of the natural gas value chain including exploration and production, processing, transmission, distribution and marketing and related services. [via]

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