Helios and Matheson Information Technology's board meeting on July 25, 2014

Helios and Matheson Information Technology board meeting will be held on July 25, 2014, to consider raising of long term funds through issue of FCCBs GDRs and issue of equity related securities to Qualified Institutional Buyers in accordance with existing statutory guidelines and increase of authorized share capital .

Helios and Matheson Information Technology Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 25, 2014, inter alia :1. to consider raising of long term funds through issue of FCCBs, GDRs and issue of equity related securities to Qualified Institutional Buyers in accordance with existing statutory guidelines and increase of authorized share capital (and consequent amendment to Memorandum and Articles of Association), subject to approval of members to be obtained through postal ballot exercise.The Trading Window for dealing in the shares of the Company by the directors and employees shall remain closed during the period from July 21, 2014 to July 26 2014 (both days inclusive). Accordingly, all the Directors and Employees of the Company have been advised not to trade in shares of the Company during the period of closure of Trading Window as stated above.Source : BSE

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Idea sees significant telecom growth opportunities in India

The net debt for Idea Cellular has gone down by Rs 5200 crore due to proceeds of QIP and Rs 223 crore cash profit, said MD & CEO, Himanshu Kapania.

Idea Cellular believes that there is a significant telecom growth opportunity in the country. We are committed to execute the Prime Minister's vision of building 'i-ways'

Himanshu Kapania

MD

Idea Cellular

Idea Cellular  , one of the largest telecom operators in India, beat street expectations on every front with the consolidated net profit rising 23.4 percent sequentially to Rs 728 crore in April-June quarter aided by strong operational performance and topline despite higher tax rate.

Commenting on the company's stellar performance, Himanshu Kapania, MD & CEO said the net debt  has gone down by Rs 5200 crore due to proceeds of QIP and Rs 223 crore cash profit, he added.

Talking of the capex plans, he said the guidance on expenditure front remains at Rs 3500 crore for the year.

Below is the transcript of Himanshu Kapania's interview with CNBC-TV18's Kritika Saxena.

Q: Could you tell us more about the net debt for Idea?

Kapania: This quarter first and foremost our EBITDA has grown to Rs 2500 crore which has helped us to get cash flows from our operations of nearly Rs 2200 crore.

We also did a QIP in June 2014 which contributed to Rs 3000 crore. So, we have been able to reduce our net debt this quarter by Rs 5200 crore.

We are at a comfortable net debt levels of less than Rs 14000 crore. Going forward we believe that the operations flow will continue.

Q: TRAI has given a set of recommendations for spectrum sharing for 3G and 4G? Your quick comments on the recommendations?

Kapania: Idea Cellular believes that there is a significant telecom growth opportunity in the country. We are committed to execute the Prime Minister's vision of building 'i-ways'.

We also believe that only 7.5 percent of our existing subscribers use 3G. Only 20 percent of our existing subscribers use mobile data. Going forward almost all our existing 140 million subscribers will use data. So, the data volume is going to explode.

We will be able to handles this explosion of data volume only with a larger quantum of spectrum. So, given this as a background it is important for government of India to release large quantum of spectrum both in the space of 3G at 2100 Mhz, as well as release quantum of spectrum which is blocked in 1800 Mhz and 900 Mhz with the defence and other users.

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Finance Bill expected to be passed by Parliament on July 28

The Finance bill, whose passage signals the end of the budgetary exercise, is coming up for discussion in the Lok Sabha on July 24 and 25, said Minister of State for Parliamentary Affairs Prakash Javadekar.

Fast tracking the budgetary exercise, Parliament is expected to pass the Finance Bill by July 28.

The Finance bill, whose passage signals the end of the budgetary exercise, is coming up for discussion in the Lok Sabha on July 24 and 25, Minister of State for Parliamentary Affairs Prakash Javadekar told reporters.

He said that after that the Finance bill would go to Rajya Sabha where the exercise will be completed by July 28. In the Lok Sabha, the demands for Ministry of Environment and Forest will be taken up for discussion tomorrow and that of Surface Transport Ministry a day after for scrutiny.

The Union Budget 2014-15 was presented in the Lok Sabha on July 10 . Today, the Lok Sabha suspended a rule of procedure and conduct of business to take up the discussion. The rule suspended was one relating to sending the demands for grants to the concerned Standing Committees as they have not yet been constituted.

The Budget has to be cleared before July-end as the Votes-on-Account taken before Lok Sabha elections will expire by July-end.

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Atlanta's fixes book closure for dividend AGM (E-Voting)

Atlanta has informed that the Register of Members & Share Transfer Books of the Company will remain closed from August 02, 2014 to August 09, 2014 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on August 09, 2014.

Atlanta Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from August 02, 2014 to August 09, 2014 (both days inclusive) for the purpose of Payment of Dividend & Annual General Meeting (AGM) of the Company to be held on August 09, 2014.The e-voting portal will remain open from 9.00 a.m. on August 04, 2014 to 5:00 p.m. on August 06, 2014. The e-voting module will be disabled on August 06, 2014 at 5.00 p.m.Source : BSE

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S. Kumars Nationwide: Outcome of board meeting

S. Kumars Nationwide at their meeting held on July 19, 2014 have considered and approved a Scheme of Arrangement with the Creditors of the Company pursuant to section 391 of the Companies Act, 1956/section 230 of the Companies Act, 2013.

S. Kumars Nationwide Ltd has informed BSE that the Board of Directors of the Company at their meeting held on July 19, 2014 have considered and approved a Scheme of Arrangement with the Creditors of the Company pursuant to section 391 of the Companies Act, 1956/section 230 of the Companies Act, 2013 (the "Scheme") under discussion and subject to the approval of its lenders and other statutory authorities as per the requirement of Law.Source : BSE

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Texmaco Rail Engineering: Outcome of board meeting

Texmaco Rail & Engineering at its meeting held on July 21, 2014, has approved further issue of securities of the Company at such premium as may be approved by the Board and subject to the approval of the shareholders of the Company in accordance with the Companies Act, 2013.

Texmaco Rail & Engineering Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 21, 2014, has approved further issue of securities of the Company at such premium as may be approved by the Board and subject to the approval of the shareholders of the Company in accordance with the Companies Act, 2013, including, without limitation, Sections 41, 42, 54, 55, 62, 63 and 71 thereof, and also including any relevant provisions of the Companies Act, 1956, through one or more public issue and/or on a private placement basis and/or preferential issue and/or any other kind of issue and/or placement as may be permitted under applicable law from time to time, for an aggregate amount not exceeding Rs. 300 Crore (Rupees Three Hundred Crore).Further, the Company has informed that the Company is currently in the process of merging Kalindee Rail Nirman (Engineers) Limited into the Company by way of a scheme of amalgamation, and in case any change in the scheme of amalgamation is deemed necessary pursuant to the proposed further issue of securities, the revised documents / information shall be shared with the exchanges subsequently.Source : BSE

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CARE's board to consider interim dividend

Credit Analysis and Research has informed that a meeting of the Board of Directors of the Company will be held on July 31, 2014, inter alia, to consider the Unaudited Financial Results for the quarter ended June 30, 2014 and the declaration of Interim Dividend, if any for the financial year 2014-15.

Credit Analysis and Research Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 31, 2014, inter alia, to consider the Unaudited Financial Results for the quarter ended June 30, 2014 and the declaration of Interim Dividend, if any for the financial year 2014-15.Source : BSE

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Foseco India's outcome of board meeting

Foseco India at its meeting held on July 21, 2014, has appointed Ms. Merryl Durrenbach as a Permanent non-retiring Director of the Company in place of Mr. Chris O Shea. Mr. Chris O' Shea has tendered his resignation as a Director of the Company with effect from the above date which was duly accepted by the Board.

Foseco India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 21, 2014, has appointed Ms. Merryl Durrenbach as a Permanent non-retiring Director of the Company in place of Mr. Chris O' Shea.Mr. Chris O' Shea has tendered his resignation as a Director of the Company with effect from the above date which was duly accepted by the Board.At the aforesaid meeting, Dr. Indira Parikh was appointed as an Additional Director of the Company.Source : BSE

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Near ideal weather across the United States mid-west continues

Near ideal weather across the United States mid-west continues to support 'huge' yield potential for maize, although the critical pollination period for ma ...

Near ideal weather across the United States mid-west continues to support 'huge' yield potential for maize, although the critical pollination period for maize will be during the next two weeks. The release of a bearish USDA report at the end of last week kept market sentiment firmly in a negative tone, with bigger United States corn stocks.By: Skymetweather.com

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Drought chances sustain despite Monsoon revival

After poor Monsoon rains in June, July too commenced with a 43% deficit highest for the season - and remained so till 12th July.

However, in the last one week there has been a series of cyclonic circulations moving across Odisha, Madhya Pradesh, Gujarat and Rajasthan, which has resulted in fairly widespread moderate to good rain, heavy at times in the region. This has helped in pulling down the cumulative deficit to 31% as on 21st July.

Though, it looks like a good recovery it doesn't seem to be lasting long as the last few days of July may only experience patchy rains of light to moderate intensity.

Even with this recovery there are pockets such as Gujarat and Marathwada where the deficiency is alarming, over 60%. Telangana, Madhya Maharashtra and Punjab stare at a deficit of 50% or more. It is 40% or more in Vidarbha, Saurashtra, Kutch, entire Rajasthan, Haryana, west Uttar Pradesh and coastal Andhra Pradesh.

According Skymet Meteorology Division in India, the cumulative deficit at the end of July is estimated to be around 20%. The analog analysis of the past data between 1877 and 2013 reveals that there were only 2 years (1877 and 2002) when there was a deficit of 30%. Both these years were El Nino years, experiencing severe drought.

During the same period there were 5 years (1877, 1918, 1972, 1987, and 2002) when June and July experienced a deficit of 25%. The seasonal deficit during these years stood at 23%, which amounts to severe drought.

Drought Category

Mild drought: -11% to -15% Moderate drought: -16% to -20% Severe drought: -20% and above During the same period from 1877 to 2013 there were 10 years when the deficit in the months of June and July was 20%. All these years were again El Nino years. The seasonal deficit during these years also ended up at 18% amounting to moderate drought.

And 16 years during the same period the deficit for June and July has been 15%. Out of these 16 years 11 were again El Nino years. The season during this time ended with an average deficit of 14% resulting in mild drought.

Meanwhile, Skymet carried out the study on all worldwide dynamical models and the current state still points towards 60% chance of drought in India, with 40% chance of below normal rainfall. Incase of drought there is a 20% probability of severe drought and 50% chance of moderate drought.

This clearly shows that the country still stares at the probability of drought and there is zero chance of normal or excess rain being experienced during this Monsoon season.

Picture Courtesy: gg2.net

By: Skymetweather.com

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