Tag: Japan

L&T-MHPS Boilers inks technology licence pact with MHPS Japan

L&T-MHPS Boilers inks technology licence pact with MHPS Japan

07/11/2016 16:42

Larsen & Toubro Ltd on Monday said that L&T-MHPS Boilers Pvt Ltd (LMB) has signed a technology licence agreement for Selective Catalytic Reduction (SCR) systems with Mitsubishi Hitachi Power Systems Ltd.

L&T-MHPS Boilers Pvt Ltd (LMB) is a joint venture of Larsen & Toubro Ltd (L&T) and Mitsubishi Hitachi Power Systems Ltd (MHPS), Japan.

In a filing to the Bombay Stock Exchange, the company said, “L&T-MHPS Boilers signs technology licence agreement with MHPS Japan for selective catalytic reduction systems.”

The technology licensing agreement is for design, engineering, manufacture, installation, commissioning, and sale of new boilers under BTG, EPC or SG packages or standalone SCR systems, and for existing and under construction boilers on exclusive basis in India, the company said in a statement.

The new emission norms, for coal-based thermal power plants in India, introduced limits on oxides of nitrogen (NOx) emissions.

This move has made Indian emission norms one of the most stringent in the world. The new norms have called for mandatory installation of SCR systems in upcoming power plants, including those currently under construction and many existing power plants.

Commenting on the pact, L&T, Whole-Time Director (Power, Heavy Engineering & Defence) and CEO and Managing Director-L&T Power, Shailendra Roy said, “This strengthens L&T’s capability to cater to power plant requirements meeting new emission norms and contribute to the government’s ‘Make in India’ initiative.”

LMB is currently executing 12 units of supercritical / ultra-supercritical steam generator packages of 660 mw capacity in India totalling 7,920 MW.

In addition, 6 supercritical units (660/700 MW) have already achieved commercial operation.

Meanwhile, shares of the company closed at Rs 1,399.85 apiece, down 1.34 per cent, from previous close on BSE.

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Japan’s Line planning 2016’s biggest IPO

Japan’s Line planning 2016’s biggest IPO

06/06/2016

Takeshi Idezawa led Line Corp., the company behind Asia’s most popular messaging apps, is planning for one of the biggest initial public offering of 2016 with a goal of raising between USD 1 billion and USD 2 billion at a valuation of USD 5 billion to USD 6 billion, according to Bloomberg report.

Takeshi Idezawa led Line Corp., the company behind Asia’s most popular messaging apps, is planning for one of the biggest initial public offering of 2016 with a goal of raising between USD 1 billion and USD 2 billion at a valuation of USD 5 billion to USD 6 billion, according to Bloomberg report.

Takeshi Idezawa led Line Corp., the company behind Asia’s most popular messaging apps, is planning for one of the biggest initial public offering of 2016 with a goal of raising between USD 1 billion and USD 2 billion at a valuation of USD 5 billion to USD 6 billion, according to Bloomberg report.   Line is already profitable and it will make that a focus for investors when it begins a roadshow toward the end of this month, according to the Bloomberg report.   The market debut would come two years after Line filed an application to list in Tokyo in July 2014.   Nomura Holdings Inc., JPMorgan Chase & Co., Morgan Stanley and Goldman Sachs Group Inc. are the lead underwriters, according to the people.

Maize ends higher by 0.09% as demand picks up

Maize ends higher by 0.09% as demand picks up

03/06/2016 09:46

Maize prices closed higher by 0.88 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for June 2016 contract closed at Rs. 1,375 per quintal, up by 0.88 per cent, after opening at Rs. 1,374 against the previous closing price of Rs. 1,363. It touched the intra-day high of Rs. 1,376.

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

India in 6th place among top 10 global manufacturers

India in 6th place among top 10 global manufacturers

04/04/2016 00:54

According to a report by United Nations Industrial Development Organization (UNIDO), India has occupied sixth place in a ranking of the world’s top ten manufacturing economics which is topped by Asian powerhouse China.

Previously, India was ranked as the ninth largest manufacturer in the world.

Data from UNIDO’s Yearbook shows that the Manufacturing Value Added (MVA) in India climbed by 7.6 per cent in 2015, compared to the previous year.

“India is now the sixth largest manufacturer in the world”, the UNIDO report said.

The quarterly index of industrial production (IIP) for Asia’s third biggest economy showed that manufacturing output climbed by 1 per cent in the fourth quarter of 2015 compared to the same period a year ago.

Meanwhile, global manufacturing growth slowed to 2.8 per cent in 2015 reflective of a weakening world economy.

“This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies”, the report added.

After China, which is the world’s biggest manufacturer, the US, Japan, Germany and Korea are ranked second, third, fourth and fifth on the list of the largest global manufacturing countries, with Indonesia in tenth place.

In a bid to bolster India’s manufacturing prowess, the NDA government in 2014 unveiled its flagship ‘Make in India’ program to help make India a global manufacturing and investment hub by easing rules of doing business in the country including accelerating key structural reforms.

Post Session- Sensex sizzles, surges over 330 points

Post Session- Sensex sizzles, surges over 330 points

21/03/2016 16:16

Kicking off a new week on a bullish note, Indian equity benchmarks jumped by more than 1 per cent on Monday with the Sensex soaring by over 300 points and the Nifty surpassing the psychological level of 7,700 as the government’s decision to cut interest rates on small savings further bolstered speculation of a rate cut by the Reserve Bank of India (RBI) at its upcoming policy meet on April 5.

Marking a second straight rally, the 30-share Sensex jumped by 332.63 points or by 1.33 per cent to end at 25,285.37, while the Nifty closed at 7,704.25 up by 99.9 points or by 1.31 per cent.

The BSE Sensex touched intraday high of 25,327.45 and intraday low of 24,988.27. The NSE Nifty touched intraday high of 7,713.55 and intraday low of 7,617.7.

The country’s central bank is poised to cut the repo rate by at least 25 basis points next month as softening consumer inflation, coupled with the government’s decision to maintain fiscal prudence in the Union Budget leave more leeway for policy easing to help buoy demand and revive investments in Asia’s third biggest economy. Moreover, a reduction in the rate offered on small savings schemes, which are seen competing with term deposits offered by banks, also pave the way for further softening of borrowing costs.

Sentiment was also boosted after the Foreign Investment Promotion Board (FIPB) has given the green signal to 15 FDI investment proposals worth Rs 7,262 crore including that of Japanese insurer Nippon Life Insurance, Tata AIA and Aviva Life.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 880.35,+4.05%), State Bank of India (Rs. 196.65,+2.93%), Sun Pharmaceutical Industries Ltd. (Rs. 835.65,+2.42%), Larsen & Toubro Ltd. (Rs. 1227.80,+2.38%), Tata Motors Ltd. (Rs. 374.55,+2.36%), among others.

On the Sectoral front, consumer goods and capital goods advanced 2.01 per cent and 1.80 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3061, shares advanced were 1615 while 1246 shares declined and 200 were unchanged.

In Asia, China’s Shanghai Composite surged by more than 2 per cent to a two-month high and Hang Seng ended tad higher, as policymakers vowed to loosen curbs on the Chinese stock market. China Securities Finance Corp. stressed that it will boost lending to brokerages for their margin trading business in measures aimed at boosting the country’s stock market which recently fell prey to a rout and leverage more than halved from last year’s peak. Japan’s Nikkei 225 was closed for a holiday.

Bloodbath at D-street: Sensex crashes 800 pts, Nifty plunges below 7,000

Bloodbath at D-street: Sensex crashes 800 pts, Nifty plunges below 7,000

11/02/2016 16:22

Triggered by the global sell-off, the Indian equities witnessed hefty selling across all the sectoral indices on Thursday, with the benchmark Sensex crashed below 23,000-level while the NSE Nifty breached 7,000 mark. The foreign investors continued to wipe out cash fund from emerging markets like India over the prospects of the world economy amidst an ongoing slump in crude oil prices and worries over China.

The BSE SENSEX closed at 22951.83, down by 807.07 points, or by 3.4 per cent, and the NSE Nifty ended 239.35 points or 3.32 per cent lower at 6976.35.

The traders hit the “Sell” button after Fed Chair Janet Yellen on Wednesday signaled uncertainty over China’s growth prospects and an ongoing commodity rout, fears that have pushed global equities to the cusp of a bear market. While Yellen reiterated that the Fed remains on track to gradually raise interest rates, she conceded that the world’s top central bank may have to alter its interest rates forecasts amidst a continued financial market rout, meaning that the Fed may delay further rate hikes.

On the corporate front, shares of SBI ended 3 per cent lower after the country’s largest public sector lender reported a sharp decline of 67.09 per cent in its consolidated net profit at Rs 1,259.49 crore for the third quarter ended December 31, 2015, due to rise in provisions and bad loans.

The BSE MIDCAP closed at 9690.9, down by 327.22 points or by 3.27 per cent, while the BSE SMLCAP ended at 9801.26, down by 476.45 points, or by 4.64 per cent.

The top losers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 188.50,-6.94%), Bharat Heavy Electricals Ltd. (Rs. 120.35,-6.01%), Tata Motors Ltd. (Rs. 275.65,-5.55%), Oil And Natural Gas Corporation Ltd. (Rs. 202.80,-5.23%), Mahindra & Mahindra Ltd. (Rs. 1126.00,-4.93%), among others.

Meanwhile, Cipla Ltd. (Rs. 541.00,+0.40%), Dr. Reddy’s Laboratories Ltd. (Rs. 2887.00,+0.01%), were among top gainers on BSE.

On the sectoral front, all the thirteen sectoral indices ended bleeding in red, with realty and power stocks emerged as top losers, falling 5.94 per cent and 4.81 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2965, shares advanced were 400 while 2455 shares declined and 110 were unchanged.

On the global front, Hang Seng ended nearly 4 per cent lower in reopening after a three-day holiday, signaling a deepening contagion that has struck global equities. While markets in mainland China remained closed for the Lunar New Year Holidays and that in Japan were also shut for a national holiday.

Bears continue to dominate D-Street as global rout continues

11/02/2016 11:36

Tracking weak global cues, Indian equities continued to trade in the negative territory during the late morning deals on Thursday as across-the-board selling by funds and retail investors continued on worsening global stock sell-off amidst an ongoing commodity rout, worries over a China slowdown and renewed fears over the US economy.

At 11:18 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 23538.16, down by 220.74 points or 0.93 per cent while the NSE Nifty was at 7146.3, down by 69.4 points or 0.96 per cent.

On the domestic front, markets saw selling pressure mainly in the metal and oil & gas sector stocks. Meanwhile, investors keenly eyed the Q3 earnings numbers of SBI, Tata Motors, Coal India, BHEL, Hero MotoCorp, ONGC, Bank of India, Indian Bank, J&K Bank, Oriental Bank of Commerce, Punjab & Sind Bank, United Bank of India and Union Bank, to be announced today.

Major show spoilers were Oil And Natural Gas Corporation Ltd. (Rs. 205.20,-4.11%), Bharat Heavy Electricals Ltd. (Rs. 124.50,-2.77%), Maruti Suzuki India Ltd. (Rs. 3602.20,-2.19%), Mahindra & Mahindra Ltd. (Rs. 1159.55,-2.09%), Coal India Ltd. (Rs. 308.00,-1.93%), among others.

The top gainers of the BSE Sensex pack were State Bank of India (Rs. 162.50,+2.23%), Tata Motors Ltd. (Rs. 295.85,+1.37%), Dr. Reddy’s Laboratories Ltd. (Rs. 2925.00,+1.32%), Bharti Airtel Ltd. (Rs. 314.25,+1.11%), Axis Bank Ltd. (Rs. 393.80,+0.15%), among others.

The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2333 shares traded, 534 advanced while 1695 shares declined and 104 remained unchanged.

On the global front, financial markets in China and Japan are closed today for public holidays. Hang Seng slumped over 4 per cent as it reopened after a three-day holiday, signaling a deepening contagion that has struck global equities.