What’s buzzing in these counters right now
Shree Ashtavinayak Cine Vision: The market rumour is that this company will earn a bumper profit from 3 Idiots. However, this seems unlikely. Shree Ashtavinayak has produced and distributed films like Jab We Met, Golmaal Fun Unlimited, Golmaal Returns, Kidnap, Blue, Maine Pyar Kyon Kiya, Luck, and Bhagambhag - but not 3 Idiots. This film has been produced by Vidhu Vinod Chopra who owns his own company, Vinod Chopra Productions, and the film has been distributed by the same company too. Ashtavinayak's next big release will be Dabbang, starring Salman Khan, Mahi Gil and Sonakshi Sinha directed by Abhinav Singh Kashyap.
GIC Housing Finance: The buzz is that it will enjoy a re-rating in line with LIC Housing and Gruh Finance. But be warned, the stock is already at an all-time high (so are Gruh and LIC Housing), and thus, it is in completely unchartered territory.
Everonn Education: This company is rumoured to take over Hyderabad-based ICFAI - despite refutation from ICFA ICFAI said in a press release: "None of the ICFAI Universities have any deal with Everonn and did not even talk/meet them." Countering the rumour that Everonn is to acquire 65 ICFAI schools at Rs 2.5 billion-Rs3 billion, ICFAI said, "ICFAI Universities do not run schools at Elementary and Secondary Levels. ICFAI Universities conduct only UG, PG and Doctoral programs under faculties of Management, Science & Technology, Law, Education and Humanities."Punters in league with some business channels are spreading rumours.
Banking licence rumours: The stocks of Religare Enterprises and Indiabulls Financial Services are driven by the rumour that they would get banking licences. The Reserve Bank of India released a discussion paper about the basis of issuing new banking licences and surprisingly the paper seems quite open to at least discussing the allowing of corporate houses into banking. Yesterday all these shares rose on hopes of getting a banking licence: Religare Enterprises, Mahindra & Mahindra Financial Services, Shriram Transport Finance, Reliance Capital, IFCI, and LIC Housing Finance. Rumours of IFCI trying for a banking licence have been around for some time now and so are counter-statements by its management. (See: http://www.moneylife.in/article/81/8057.html).
Anant Raj: There is some talk of a power plant coming up in Manesar from Anant Raj. On its website, Anant Raj says gas linkages, land acquisition, and evacuation systems are being identified for setting up four 250MW combined cycle gas based power plants as an independent power producer, for export to the national grid. According to Edelweiss Research, in its Q1FY11, Anant Raj earned Rs820 million from its 0.29msf residential project at Kapashera
(sold at Rs5,000/sq ft). It launched another residential project (Sector M-1, Manesar of ~1.1msf) this quarter, of which, 200 of the 560 units have been sold at Rs2,500/sq ft; revenues are likely to accrue in Q2FY11E.
When investing in a mutual fund (MF), investors are worried mainly about the returns it would...
Chennai: As Mumbai grapples with the oil spill, the Coast Guard has joined hands with a Chennai-based maritime university to offer an international level course focusing on oil spill assessment and shoreline cleanup exercise to train officials in tackling such disasters, reports PTI.
The Coast Guard and the private AMET University recently entered into an agreement to offer the International Maritime Organisation (IMO) Level-II Oil Pollution Preparedness Response and Co-operation (OPRC) programme for senior and middle level managers of oil firms and ports.
"The five-day OPRC Level-II course, which commenced this month, is the first of its kind or initiative in the country", Inspector General A Rajasekhar, commander, Coast Guard Region (East), told PTI.
The course offers intensive training sessions conforming to the IMO guidelines and would cover oil spill assessment, combat techniques, planning waste management, legislation, compensations and applicable claims, and shoreline cleanup exercises, he said.
AMET University vice-chancellor captain S Bhardwaj said that in case of any emergency of an oil pollution, these trained people would become "on-scene commanders" and would coordinate with Coast Guard and other relevant agencies to tackle the situation.
The course would be helpful in dealing with such disasters like the recent collision between two merchant vessels MSC Chitra and MV Khalijia III off the Mumbai coast that resulted in a major oil spill.
On the Coast Guard's involvement, Mr Rajasekhar said, "We will take the trainees to the sea and give them practical training".
He said the class room instructions on various topics related to functional and operational responsibilities, planning and combat techniques applicable to the trainees were being conducted by senior officers of Indian Coast Guard, AMET University professors and guest lecturers.
"As a part of the training, live demonstrations of pollution response equipment was conducted onboard Indian Coast Guard ships 'Sagar' and 'Jijabai' during the training programme", he said.
"A group of 25 persons from various oil industries successfully completed the course, which forms the cornerstone for the conduct and management of an effective response to a marine oil spill", Mr Bhardwaj said.
He said the next course would start by October, 2010. "The course will now be held regularly at our campus on a bi-annual basis", he said.
The objective of the course was to train members of an oil spill response team organization to effectively respond to an oil spill through the deployment of equipment and resources at the local level, he said
He said the entry requirement for the course is that the personnel nominated should be at least a middle level manager, who has sufficient experience in Pollution Response Operations.