Himadri Speciality Chemical Ltd ( BSE Code: 500184; CMP: 56.00; BB Code: HSCH IN)

Himadri Speciality Chemical Ltd ( BSE Code: 500184; CMP: 56.00; BB Code: HSCH IN)

About Us

· Himadri Chemicals & Industries Limited is more than just the largest coal tar pitch manufacturing company in India

· It is a carbon specialist, developing coal tar by-products and derivatives (advanced carbon material, carbon black, corrosion protection and naphthalene)

· The Company addresses growing needs of sectors like aluminium, graphite, infrastructure, lithium-ion battery, tyre and rubber applications

· The environmentally conscious company has also invested in 2.5 MW of wind power generation in Dhule (Maharashtra, India)

Coal tar distillation



Coal tar is a by-product generated while processing coking coal into low ash metallurgical coke in a recovery-type coke oven plant. Coal tar accounts for around 3.5-4% of coke produced. Coal tar pitch is a complex chemical with 22 chemical and physical properties obtained through coal tar distillation, which involves the conversion of coal tar into a variety of intermediate chemical products. The residue is coal tar pitch, which is further processed into quality coal tar pitch of desired chemical and physical properties. At, Himadri, coal tar pitch is derived from the processing of high temperature coal tar using state-of-art technologies.

Grade Applications
Aluminium grade pitch In pre-baked anode and Soderberg in aluminium manufacture
Graphite Grade binder pitch In graphite electrode manufacture
Graphite Grade zero QI coal tar impregnating pitch In graphite electrode, nipple impregnation and UHP grade electrode manufacture
Mesophase pitch In needle coke, carbon/carbon composites, advanced carbon material and carbon fibres
Special pitches In refactories carbon paste, paints/ultramarine blue and water proofing, among others
Qualities and specifications

Binder Pitch of aluminium & graphite industry Download PDF

Impregnation pitch for graphite industry Download PDF

Mesophase pitch (under development)

Special pitch Download PDF


Pitch is marketed in solid and liquid form. Solid pitch is available in bulk bags and jumbo bags. Liquid pitch is supplied with the help of the Company’s dedicated fleet of specialised tanker. Himadri also has bulk liquid pitch terminal to load up to 6,000 MT at Haldia port and is currently constructing a new liquid pitch terminal at Lonkou port in China, capable of loading 12,000 MT of liquid coal tar and pitch.

Contact: tarproducts



Naphthalene is used in the manufacture of SNF, beta naphthol, phthalic anhydride, tanning agents, moth balls and domestic disinfectants. During the distillation process, approximately 8-9% naphthalene is recovered for use dye and organic compound intermediates in fine chemicals and pharmaceuticals. Globally, coal tar is the major source of naphthalene.


· Dyes and dyestuff intermediates

· Tanning agents

· Super plasticiser manufacture, as a raw material

· Pharmaceuticals

· Disinfectants (especially in households)

Qualities and specifications

Technical naphthalene Download PDF

Refined naphthaleneDownload PDF


Available in solid flake form and packed in 50 kg and 500 kg HDPE bags.



Different fractions of oils are produced during the coal tar distillation process ranging between boiling point 180ºC and 350ºC

Grade Applications
Light creosote oils In paints and asphalt liquefying, manufacture of phenolics disinfectants
Wash oil/Wood preservative oil In benzene extraction from the coke oven gas and wood preservative as BS 4164, AWWA C203 and IS 15337 (2003) standards
Anthracene oil In carbon black manufacture as a feedstock and in coal tar enamel manufacture
Qualities and specifications

Light creosote oils Download PDF

Wash oil/Wood preservative oil Download PDF

Anthracene oil Download PDF


Available in liquid tanker and 200 kgs drums.

Contact: tarproducts


Aluminium Industry

Aluminium is the metal of the future, combining lightness with strength, electrical conductivity and corrosion resistance. The widespread use of aluminium extends to the aerospace, automobile white goods, food and beverage packaging. Owing to the many applications for this metal, primary aluminium production throughout the world has been rising steadily for many years. Coal tar pitch is used as binder for production of carbon anodes which in turn is used in the electrolysis process of extracting aluminium from alumina by the aluminium industry. Aluminium plants can only be successful with binders of constantly high quality. Himadri is a preferred vendor, delivering high quality binder pitch (solid and liquid) just in time to aluminium plants.

Graphite industry

Coal tar pitch is used in the production of graphite electrodes (used in steel production) as a binder, and impregnating agent, increasing electrode density and strength. After the aluminium industry, the second largest consumer of coal tar pitch is graphite electrodes (which are used in electric arc furnaces). CTP constitutes around 40-42 percent of a graphite electrode by volume, with a large part of the balance being accounted for by needle coke/CPC (calcinised petroleum coke). CTP is used as a binder and impregnating material in electrodes at a high temperature to fill and cover pores, enhancing electrode life.

Infrastructure Sector

Concrete is one of the most important and versatile building materials of recent times. Himadri produces naphthalene-based super plasticisers that have revolutionised the use of concrete. Super plasticisers improves cement mix by dispersing cement particles, improving its flowing properties and making it easier to handle and feed to even the most remote corners of a building. These substances also reduce processing times and increase the strength of the concrete. With the construction sector booming, Himadri therefore plans to boost its super plasticiser production capacity and expects annual growth rates in excess of 25%.

Tyre sector

Global carbon black consumption is growing at 3-5% annually. Southeast Asian countries are growing at a pace of more than 6% annually. Carbon black is one of the main raw material for tyre industry and increases tyre grip on road. Its low resistance and minimum abrasion loss makes the highest safety possible. Himadri, with its latest state-of-the-art technology, is ensuring rubber compound with minimum grit and top ranging modulus.

Lithium-ion Batteries

Himadri is one of the few companies in the world to develop the technology to manufacture high-quality advanced carbon material which enjoys downstream applications in the manufacture of lithium-ion batteries. Lithium-ion batteries are used across all portable electronic devices like mobile phones, video cameras, notebook computer and palmtops; they also find application in hybrid vehicles and electric vehicles. The primary batteries are replaced by high energy lithium-ion batteries. Toyota including many other car manufacturers has already begun to test the lithium-ion batteries for car start-up applications. Lithium-ion is a low maintenance battery, an advantage over peers. The self- discharge is less than half compared with nickel-cadmium, making lithium-ion well suited for modern fuel-gauge applications.

Power sector

Power has been universally recognised as one of the most important inputs for economic growth and human development. There is a strong two-way relationship between economic development and energy consumption. India has been traditionally dependent on thermal power, which constitutes about 63% of the current capacity. The balance is contributed by hydroelectric (25%), nuclear (3%), and renewable (9%) energy sources. The overall power generation in the country increased from 704.469 billion units in 2007-08 to around 723.794 billion units in 2008-09 (2.74% growth).The growth was significant for the hydro (8.38%) and thermal (5.57%) sectors while nuclear power generation declined 12.3%. Himadri is emerging as separate power division. A power plant of 15 MW is being set up with green and clean energy. The power plants are eligible to carbon credits.

Paints and coatings

Carbon black is a key raw material that enhances the performance of rubber, inks and paints. Himadri produces carbon black engineered to meet the needs of these end-market applications. Himadri’s carbon black can be used in a wide variety of coating applications. Although its definition is simple, a coating can be sophisticated in terms of composition, curing chemistry and application performance. Industrial carbon blacks are used in a variety of applications, including printing inks, toners, coatings, paper and building products. Purposes for using industrial carbon black include pigmentary, electrical, UV absorption and theological properties.


The Company has designed different carbon black varieties for various plastics applications. The range of applications is diverse but it is not limited to basic colour concentrates for pigmentation, electrostatic dissipation, fibres, film, pipe, UV protection/stabilisation and wire and cable compounds.

Dyestuff Sector

Himadri produces naphthalene which is used in products of dye intermediates such as H-Acid, Beta Napthol and reactive dispersing dyes. We use these dyes as colours in our everyday life.

Source: http://www.himadri.com/

Kind Regards,

Atul Vitha


Best Answer to “Sell Me This Pen” I have Ever Seen

*Best Answer to “Sell Me This Pen” I have Ever Seen*

I personally never thought anyone would actually say, “sell me this pen” in a sales interview. I was wrong. It will happen to you too. And to avoid panic, you should know exactly what to say back.

I am going to give you the right sales framework to respond perfectly every time.

On a quick side note, did you know this sales interview question has been around for millions of years? Its origins date back to the earliest of cavemen. Selling slingshots cave-to-cave. Except back then, they asked, “sell me this bowl of crushed berries.”

Anyways. The point is, one day it will happen to you and I want you to be prepared.

Because if you start to describe how smooth the pen feels and how shiny the pen looks, just like you saw in the Wolf of Wallstreet…

You probably won’t get the job.

*Why it matters to sell me this pen*

At first, I didn’t realize why it mattered. It just seemed like a silly question. But, you’ll see.

When you become good at answering this question, you actually become one hell of a salesperson.

And that’s why people still ask it in interviews. It shows your creative approach and how good you are at actually selling product (not just reading your resume).

There are exactly four sales skills the interviewer is looking to see when you answer:

how you gather informationhow you respond to informationhow you deliver informationand how you ask for something (closing)

Now, since I had a lot of sales interviews lined up at the beginning of last year. I thought, I better practice my response just in case.

The “just wing it” strategy is best for making pancake mix, not for sales interviews.

So let’s go through exactly what you can say to address each sales skill. Because when you do it right, you will blow their mind!

*Here’s exactly what you can say*

Just to back up for a second, I had 26 sales interviews in a period of three months. Someone was bound to ask me.

Ok. The Director of Sales stood up and said, “it was great meeting you Ian. Let me go grab the CEO to come in next.” Moments later, the CEO of the 30 person startup walked in the small conference room.

Shortly after initial greetings, the CEO wasted no time to start the interview.

I practiced my answer beforehand. I made sure my answer displayed the four sales skills the CEO needed to hear.

Now you can read it for yourself. And then use it for yourself.

At the bottom, you can see a simple sales framework to memorize that will make this work for you in any situation.

You can memorize the script, but more importantly, memorize the sales framework at the end.

Here you go…

CEO: Do me a favor, sell me this pen. (reaches across to hand me the pen)

Me: (I slowly roll the pen between my index and thumb fingers.) When was the last time you used a pen?

CEO: This morning.

Me: Do you remember what kind of pen that was?

CEO: No.

Me: Do you remember why you were using it to write?

CEO: Yes. Signing a few new customer contracts.

Me: Well I’d say that’s the best use for a pen (we have a subtle laugh).

Wouldn’t you say signing those new customer contracts is an important event for the business? (nods head) Then shouldn’t it be treated like one. What I mean by that is, here you are signing new customer contracts, an important and memorable event. All while using a very unmemorable pen.

We grew up, our entire lives, using cheap BIC pens because they get the job done for grocery lists and directions. But we never gave it much thought to learn what’s best for more important events.

This is the pen for more important events. This is the tool you use to get deals done. Think of it as a symbol for taking your company to the next level. Because when you begin using the right tool, you are in a more productive state of mind, and you begin to sign more new customer contracts.

Actually. You know what? Just this week I shipped ten new boxes of these pens to Elon Musk’s office.

Unfortunately, this is my last pen today (reach across to hand pen back to CEO). So, I suggest you get this one. Try it out. If you’re not happy with it, I will personally come back next week to pick it up. And it won’t cost you a dime.

What do you say?

CEO: (picks jaw up off floor) Yes.

See how simple that was. The CEO loved it. Why?

Because all four sales skills were displayed.

Here’s the simple sales framework I used to answer “sell me this pen”. Memorize it for yourself.

Find out how they last used a pen (gather info)Emphasize the importance of the activity they last used a pen (respond to info)Sell something bigger than a pen, like a state of mind (deliver info)Ask for the buy (closing)

Does that make sense? Yes. Ok, good.


Remember, it’s not about actually selling a pen. It’s about showing how well you can sell a product.

Take 15 minutes today to practice the script above. I promise you will benefit.

Plus, would you mind doing me a favor. Share this with ONE person in sales. It could save their career

​”Trump: The King of Debt”

​”Trump: The King of Debt”

*Trump: The King of Debt*

U.S. bombing in Afghanistan is very confusing and putting lots of question about Trump’s policies.

Because, nobody was thinking or not on radar. And Trump given a surprise to investors by dropping the “Mother of All Bombs”.

So, people are talking again on falling treasury yields, stocks tied to Infrastructure and tax reform are stalling and even the Maxican peso has wiped out most of it’s losses. And North Korea might be working on anthore nuclear test. Trump, responded on North Korea, said: “North Korea is a problem. The problem will be taken care of.” So again, North Korea warns to regime that, “It’s ready for war, if they choose”. So, investors are worried on rising fears.

But after all, he wants to keep lower interest rates, $1t Infrastructure development. So probably, those agendas are not today in his priorities.

So, where are we headed???

As India prospective; we are much near to face GST from June, UP is Mr Modi’s baby now. Banks are flooded with cash after demonetization. And government pushing implementation of electronic payments system which will be increase direct tax collection. Which will provide funding to big infrastructure projects, rail projects.

After GST implementation, government will try to get clearance on Land Bill, Labor Laws Bill, which will provide more comfortable path to FDI and push to Make in India progress and creating jobs. As a government part they need to increase spending on educations and skills developments also as faster.

So as per my personal opinion, this might be a great chance to buy, let stocks come down, wait for settling all dust arounds, and enter for good stories based stocks. In fact, 200 to 300 points in Nifty50 might be get nominal effect  for 5 to 10 years prospects or lesser than that.

So, still firmly believing as earlier, Nifty50 may cross 10K by August 2017, holding my view.

Kind Regards,

Atul Vitha

Morning Update 10th Apr, 2017

* Israel signs $2 bln missile deal with India
* India extends $4.5-bln line of credit to Dhaka for infra projects
* Board Meetings:
 + Cybermate Infotek to consider issue of shares
 + Hindustan Composites to approve issue of shares by way of bonus shares


* NSE provisional net buy/(sell) in bln rupees, Apr 7: FII (2.62), DII 4.15
* Institutional net buy/(sell) in bln rupees, Apr 6: FIIs 4.4, MF 0.90
* FII NSE futures net buy/(sell) in bln rupee, Apr 7: index (5.09), shr 5.63
* Sensex 29706.61, down 220.73 points; Nifty 50 9198.30, down 63.65 points
* Crude: $52.24/bbl; Rupee: 64.28/$1; Gold: $1,257.30/ounce; 10-yr yld: 6.8186%


* AUTOMOBILE: Seen rising; Maruti Suzuki in focus
* BANKS: Seen volatile ahead of Jan-Mar results; econ data eyed
* CAPITAL GOODS: Seen rising; L&T, BHEL eyed
* CEMENT: Seen up on demand revival, price hikes
* FMCG: Seen mixed as headwinds remain; HUL in focus
* IT: In narrow range; market to eye Jan-Mar result, FY18 guidance
* METALS: To follow broader market's trend
* OIL: State-owned fuel retailers seen strong
* PHARMACEUTICALS: Seen subdued as strong rupee weighs
* TELECOM: Range-bound movement likely

* Domestic shares are seen volatile today, tracking the trend in global equity markets and ahead of Jan-Mar corporate earnings announcements.

* US indices ended slightly down on Friday on account of weaker-than-expected March jobs data and US air strikes on Syria.
* Most Asian indices were down today, tracking the trend in US shares Friday. The Nikkei though was strong as a weak yen against the dollar pushed shares higher in Japan.

* AUTOMOBILE: The Supreme Court has extended stay on the Competition Appellate Tribunal's order, which had found 14 automakers guilty of indulging in unfair market practices.
The Supreme Court-appointed Environment Pollution (Prevention and Control) Authority has moved the court, seeking to stop sale of Bharat Stage-IV compliant vehicles from April 2020.
Ford Global Technologies, a part of Ford Motors, has received an Indian patent for an invention related to a hybrid electric vehicle.

* BANKING: The Reserve Bank of India has started groundwork to introduce wholesale banks, which could fund the infrastructure sector and small, medium and corporate businesses, and also act as market makers for corporate bonds.
* CORPORATE: Vijay Mallya has filed an appeal in the Securities Appellate Tribunal against an order of the Securities and Exchange Board of India, barring him and six others from the securities market.
The income tax department has asked Cairn Energy to pay dues of 102.47 bln rupees by Jun 15. It has also raised an interest demand of around 14 bln rupees asking Cairn why a penalty should not be imposed.

* ECONOMY: The government is likely to seek an approval from the Cabinet by the end of the month to put in place a mechanism that would replace the Foreign Investment Promotion Board.
The cap of 65,000 for H-1B visas for the financial year 2017-18 (Apr-Mar) has been breached within four days of the opening of the window to apply.
The finance ministry may request the Securities and Exchange Board of India to extend the August deadline for public sector banks to meet 25% public float norm.

* EXCHANGES: The Securities and Exchange Board of India is yet to give its approval for the appointment of Vikram Limaye as managing director and chief executive officer of the National Stock Exchange.

* FINANCE: Axis Finance will consider issuance of non-convertible debentures worth 22 bln rupees at its board meeting on Tuesday.

* INSURANCE: Reinsurer Lloyd's started its India operations with the launch of the first branch on Wednesday.

* METAL: The government is mulling imposition of minimum import price on certain aluminium products to protect the domestic industry.

* POWER: State-owned power companies NTPC, POWER FINANCE CORP, and RURAL ELECTRIFICATION CORP, among others, are likely to issue masala bonds of around $1 bln in London markets in the next few months.

* PHARMACEUTICAL: The National Pharmaceutical Pricing Authority has issued preliminary notices to several drug manufacturers citing 613 cases of sale of essential medicines above the ceiling price in January.

* APOLLO TYRES: Formally inaugurated its sixth global tyre manufacturing unit in Hungary.

* AXIS BANK: The Central Bureau of Investigation has registered a case under Prevention of Corruption Act against a former branch manager and two officials of the company's branch in Ahmedabad.

* BHARTI AIRTEL: The company has accused Reliance Jio Infocomm of violating the Telecom Regulatory Authority of India's order stopping the new entrant's Summer Surprise offer and called on the watchdog to take "suitable action".
The company and state-owned Bharat Sanchar Nigam are working with Nokia to transform existing networks to the fifth generation.

* BHARAT ELECTRONICS: Has got sales tax demand notices worth 8.08 bln rupees from the deputy commissioner of commercial taxes in Karnataka.

* BRIGADE ENTERPRISES: Has announced a new housing project on 2.83 ha in Bengaluru.

* CENTRAL BANK OF INDIA: Will consider raising 5.83 bln rupees through the issue of shares at its board meeting on Wednesday.

* COSMO FILMS: The board has approved setting up a new production line for specialised polyester film at Aurangabad in Maharashtra.
The company plans to install a new production line for speciality polyester films by Oct-Dec in financial year 2018-19 (Apr-Mar).
* DIVI'S LABORATORIES: The US Food and Drug Administration has exempted some more of the products manufactured at unit-II in Vishakhapatnam from import alert.

* INDIABULLS VENTURES: Has approved an issue of 38.86 mln shares at 58.40 rupees to Cinnamon Capital.

* JAYPEE INFRATECH: The company's Managing Director Manoj Gaur and three other senior officials have been booked for allegedly cheating an investor.
* JET AIRWAYS INDIA: Plans to start direct flights to Amsterdam and Paris as it intends to deepen its partnership with the Air France-KLM group and Delta Air Lines.

* KOTAK MAHINDRA BANK: Subsidiary Kotak Infrastructure Debt Fund has got a certificate of registration from the Reserve Bank of India to commence operations.

* LARSEN & TOUBRO: Has appointed S.N. Subrahmanyan as chief executive officer and managing director with effect from Jul 1.

* LUPIN: The US Food and Drug Administration will begin inspection of the company's Aurangabad unit from Apr 17.
The Co has received final approval from the US Food and Drug Administration for bupropion hydrochloric tablets, which used for the treatment of major depressive disorder.

* MARUTI SUZUKI: Total vehicle production rose 10.3% on year in March to 153,868 units.

* NEULAND LABORATORIES: Has received a Form 483 with two observations from the US FDA for unit 1 in Hyderabad.

* NMDC: Total iron ore output for 2016-17 (Apr-Mar) was at 34.03 mln tn and sales were at 35.62 mln tn.

* PRAKASH INDUSTRIES: The company's steel production for Jan-Mar rose 16.7% on year to 170,000 tn, while sales were at 169,000 tn.

* RATTANINDIA INFRASTRUCTURE: The Securities Appellate Tribunal has rejected appeal of the company's promoters against SEBI order to revise the open offer price.

* RELIANCE COMMUNICATIONS: Is in the process of letting go of about 260 more employees over the coming months for below-par-performance.

* RELIANCE INDUSTRIES: The Telecom Regulatory Authority of India has said the 'Summer Surprise' offer of the company's telecom subsidiary Reliance Jio Infocomm did not fit into regulatory framework.

* RELIANCE POWER: Will today seal a power purchase agreement with the Bangladesh Power Development Board to get the $1-bln first phase of its proposed power project and liquid gas import terminal in Bangladesh.

* RELIGARE ENTERPRISES: Will sell its entire 80% stake in Religare Health Insurance to a consortium of investors led by True North Managers for an estimated 10.4 bln rupees.

* SOBHA LTD: Promoter Sobha Menon has sold 4 mln shares of the company through an open market transaction.

* STEEL AUTHORITY OF INDIA: Plans to raise 5 bln rupees through the issuance of bonds maturing in five years, and has invited bids from merchant bankers between 1100 IST and 1130 IST on Monday.

* SYNDICATE BANK: Will cut its Base Rate by 10 basis points to 9.50% from Monday.

* TATA MOTORS: Subsidiary Jaguar Land Rover plans to launch 10 new products in India this year as it looks to accelerate sales growth. Co plans to expand its sales and service network to 1,500 by 2019 from the current 700 centres.

* TORRENT PHARMACEUTICALS: Is close to finalising a deal to acquire domestic women healthcare portfolio from Novartis.

Kind Regards,

Atul Vitha

Asian equities mixed with Nikkei posting gains despite regional tensions

*Asian equities mixed with Nikkei posting gains despite regional tensions*

Asian equities were mixed in Monday trade despite heightened geopolitical tensions after a missile strike on a Syrian airfield last Friday ordered by President Donald Trump and a move by the U.S. military to send an aircraft carrier group near the Korean Peninsula in response to recent provocations by North Korea.

Trump said the strike targeted an airbase responsible for launching a chemical attack in northeast Syria earlier last week. The attack was launched while Trump was hosting Chinese President Xi Jinping at his Florida resort.

North Korea responded to the strike by stating that it was a justification for its own nuclear weapons program, adding that it had to protect itself against Washington’s “reckless moves for a war”. In turn, a U.S. Navy strike group is expected to move near the western Pacific Ocean and close to the Korean peninsula following North Korea’s multiple nuclear missile test launches this month.

The news did not weigh on Japan’s benchmark Nikkei 225 index, which bounced 0.77 percent. The ASX 200 was higher by 0.58 percent.

The Kospi was down by 0.52 percent, with China-exposed stocks pressured following heightened tensions in the Korean peninsula. PBOC weakens the Yuan reference rate to 6.9042 against the USD from 6.8949 a day earlier.

*China Press: China economic growth may stabilise at a slower pace in Q2 2017* https://t.co/IQ0fTZoeT2



* Violence mars by-elections in Srinagar LS, MP Assembly seats (PTI)

* EC cancels TN Assembly bypoll over use of money power (PTI)

* Militants attack police station in Kulgam distt of Jammu & Kashmir (PTI)

* Will talk less, work more: Goa CM Parrikar (PTI)


* China offers concessions to avert trade war with US (FT)

* Trump removes McFarland from national security role (FT)

* US ramps up pressure on Russia over Syrian conflict (FT)

* EU considering excluding UK from trade talks before Brexit (FT)

* State of emergency in Egypt after church bombings kill 44 (var)



* US FDA exempts some pdt of Divi Lab’s Vizag unit from import alert (Cogencis)

* India extends $4.5-bln line of credit to Dhaka for infra projects (Cogencis)

* Neuland Labs gets 2 observations from US FDA for Hyderabad unit 1 (Cogencis)

* NPPA issues notices to several cos for overcharging 613 drugs Jan (Cogencis)

* Central bank to mull Wed raising 5.83 bln rupees via share issue (Cogencis)

* Madhucon Projects JV gets 5.8-bln-rupee orders in Maharashtra (Cogencis)

* Axis Finance board to Tue mull raising 22 bln rupees via NCDs (Cogencis)

* SBI-led lenders sells Kingfisher Villa to JMJ Group vice chairman (Cogencis)

* Cosmo Films to start new speciality polyster production line FY19 (Cogencis)

* Odisha Mining Corp invites bids for excavation of chrome ore (Cogencis)

* Telangana, Andhra Pradesh truckers end strike after talks with govt(Cogencis)

* Bharat Electronics gets 8-bln-rupee sales tax demand notice (Cogencis)


* Secret recording implicates Bank of England in Libor (BBC)

* Wonga data breach ‘affects 245,000 in UK’ (BBC)

* Huishan Dairy dream sours for China tycoon Yang Kai (FT)

* Singapore’s DBS to boost private banking in London (FT)

* New evidence in Shell corruption probe (BBC)

Morning Update 07th Apr, 2017


* Parliament passes GST bills; Rajya Sabha junks Opposition amendment


* Board Meetings:

+ Indiabulls Ventures, to consider issue of shares on preferential basis

+ Pact Industries, to mull long-term fund requirement

+ Shalimar Paints, to mull fund-raising via shares on rights basis


* NSE provisional net buy/(sell) in bln rupees, Apr 6: FII 1.43, DII (2.06)

* Institutional net buy/(sell) in bln rupees, Apr 5: FIIs 4.81

* FII NSE futures net buy/(sell) in bln rupee, Apr 6: index (9.28), shr (1.68)

* Sensex: 29927.34, down 46.90 points; Nifty 50: 9261.95, down 3.20 points

* Crude: $51.70/bbl; Rupee: 64.51/$1; Gold: $1,253.3/ounce; 10-year yield: 6.7682%


* Domestic equities are likely to open on a subdued note tracking weakness in most Asian markets. The indices are likely to remain in a narrow range as investors may avoid aggressive bets ahead of the Jan-Mar corporate earnings from next week.


* Key US indices came off highs to end with modest gains on Thursday as US President Donald Trump took aggressive stance against Syria and North Korea ahead of the meeting with Chinese President Xi Jinping in Florida.

* Most Asian share indices were weak due to rising geopolitical concerns following the US strikes on Syria, and as President Trump hosts his Chinese counterpart for a key meeting in the backdrop of tensions over North Korea and trade relations.


* Clean energy producer ReNew Power plans an initial public offering to raise up to $600 mln after it closed the latest round of funding that valued the company at $2 bln, sources said.


* AUTOMOBILE: Hyundai Motor India has launched the 2017 model of the Creta sport utility vehicle with advanced technology features in two variants, at a base price of 928,547 rupees, ex-showroom Delhi.

Toyota Kirloskar Motor is recalling 23,157 units of its sedan Corolla Altis in India, as part of the ongoing recall of 2.9 mln vehicles globally for defective air bags.

Honda Motor Co’s Indian arm has become the first two-wheeler subsidiary of the company to achieve sales of 5 mln units in a year.

* CORPORATE: The Supreme Court has refused to extend the Apr 17 deadline for Sahara Group Chief Subrata Roy to deposit 50.93 bln rupees and warned that the court could auction the group’s Aamby Valley property if the payment is missed.

* HEALTHCARE: The government will roll out a revised National Strategic Plan in about a week, to eliminate tuberculosis by 2025.

* OIL AND GAS: Petroleum Minister Dharmendra Pradhan has clarified companies were free to decide on crude procurement from Iran and that the government wouldn’t interfere in such matters.

Saudi Aramco, the world’s largest oil producer, is in talks with the government to acquire stake in the 60-mtpa mega refinery being planned by INDIAN OIL CORP, BHARAT PETROLEUM CORP, and HINDUSTAN PETROLEUM CORP, Petroleum Minister Dharmendra Pradhan said.

* PHARMACEUTICAL: The government has formed a panel of officials from the Department of Pharmaceuticals and the health ministry that would suggest ways to make drugs more affordable.

* TELECOMMUNICATION: The Telecom Regulatory Authority of India will send its recommendations on regulating over-the-top services to the government.

The Department of Telecommunications has flagged a nearly 30% sequential fall in licence fee collections from the industry in the quarter ended March, mainly because a slew of promotional plans hurt revenues of incumbents.


* BHARTI AIRTEL: Has doubled the size of network by installing 180,000 mobile sites in the past two years.

Has terminated the services of its Vice-President Pallab Mitra for alleged violation of code of conduct.

* CAIRN INDIA: With the government extending the contract period for the company’s flagship Rajasthan block, it hopes to account for half of the country’s oil production in 3-4 years.

* CHAMBAL FERTILISERS AND CHEMICALS: One of its urea plants in Kota, Rajasthan, has been shut with effect from Thursday to carry out planned repair and maintenance activities.

* DCB BANK: Is looking to raise as much as 4 bln rupees through a qualified institutional placement in the latter half of Apr-Jun, sources said.

* EMAMI: Has launched its edible oil products under ‘Emami Healthy and Tasty’ brand in northern and western parts of India.

* GAMMON INDIA: National Law Tribunal has approved the transfer of its transmission and distribution undertaking to Transrail Lighting.

* GAMMON INFRASTRUCTURE PROJECTS: Has acquired 24% stake or 24.37 mln shares in Indira Container Terminal for 150 mln rupees.

* GE POWER INDIA: Has received a 2.38-bln-rupee order from GE Power AG to supply 150 MW CFB boiler and electrostatic precipitator components.

* HINDUSTAN UNILEVER: Plans to cut 10-15% jobs, including layoffs and reduction in new hiring, as part of its parent’s global mandate to reduce costs across markets, sources said.

* IDEA CELLULAR: Is offering up to 10 GB data per month at a rental of 100 rupees for post-paid customers.

* INDIABULLS HOUSING FINANCE: Has allotted non-convertible debentures worth 10 bln rupees on a private placement basis.

* JET AIRWAYS INDIA: Is introducing 15-20% variable pay component for its top management to save on its wage bill. This is expected to result in annual savings of 250-300 mln rupees, a source said.

* JINDAL STEEL AND POWER: Suspended operations at its coking coal mine in Australia in March due to heavy rains caused by Cyclone Debbie, forcing it to declare force majeure.

* JSW STEEL: Could spend around $1 bln on capacity addition and acquisition this fiscal and will bid for several iron ore and coking coal mines in upcoming government auctions, a source said.

* MAHINDRA & MAHINDRA: Has unveiled a third new tractor platform in three years called the Mahindra JIVO.

* MANGALORE CHEMICALS & FERTILIZERS: Had provided surety worth 2.25 bln rupees on behalf of ZUARI AGRO CHEMICALS for the latter to import raw material at concessional rate of duty during 2017-18 (Apr-Mar).

* MEP INFRASTRUCTURE DEVELOPERS: Plans to file a draft red herring prospectus for its infrastructure investment trust to raise at least 12 bln rupees, by the end of April, a source said.

* OIL AND NATURAL GAS CORP: Chairman Dinesh Kumar Sarraf has said deregulating gas pricing and marketing rights was necessary for exploration.

* RELIANCE INDUSTRIES: The Telecom Regulatory Authority of India has asked subsidiary Reliance Jio Infocomm to withdraw its three-month complimentary ‘Summer Surprise’ offer.

* SML ISUZU: Has an inventory of 1,800 Bharat Stage-III vehicles, which the company is trying to export or convert into Bharat Stage-IV vehicles.

* UNITECH: A Delhi court has denied bail to the company’s promoters Ajay Chandra and Sanjay Chandra, arrested in a fraud case relating to a Gurugram-based real estate project and sent them to judicial custody for two weeks.

* VEDANTA: Parent Vedanta Resources is firming up its clean energy plans for India, encouraged by the opportunities offered by the country’s growing green economy.

* VOLTAS: Is evaluating a bid for Kenstar, owned by the Videocon group, sources said.

Kind Regards,

Atul Vitha

Crude spikes, dollar slightly weaker as US fires dozens of missiles at targets in Syria

*Crude spikes, dollar slightly weaker as US fires dozens of missiles at targets in Syria*

Crude prices spiked, the dollar weakened slightly and markets fell in Asia on Friday and stock futures in the U.S. turned negative after the U.S. fired dozens of cruise missiles into Syria.

The missile strikes happened as President Donald Trump hosts Chinese President Xi Jinping at his Mar-a-Lago resort in Florida.

A U.S. military official told NBC that 59 tomahawks had been fired, which hit an airfield near Homs. The missiles hit aircraft and infrastructure including the runway, NBC reported. There is no word on casualties yet, but no people were targeted, the official told NBC.

In a statement, Trump said he had called for the military strike in response to a chemical attack in a rebel-held area in northern Syria. The strike also comes after Trump had said earlier in the day that “something should happen” with Syrian President Bashar al-Assad following the attack that had killed at least 70 people.

The dollar index traded at 100.550, after recording a three-week high at 100.77 earlier in the morning. On the energy front, Brent crude futures rose 1.6 percent at $55.77 a barrel while U.S. crude added 1.72 percent to settle at $52.58.

“Oil prices have naturally reacted to the U.S. bombings of Syria. It is their wont to rally on news like this, but they have always fallen back,” said John Kilduff, founding partner of Again Capital.

“The fact is that oil infrastructure is rarely damaged, and the petrodollars are the spoils of war — neither side wants to kill the ‘petro-goose.’ If anything, this airstrike sets back ISIS and makes Middle East oil supplies more secure, not less,” Kilduff said.

U.S. futures fell after the news with Dow Jones futures down nearly 100 points and S&P 500 futures off around 13 points, while Nasdaq futures eased almost 28 points. The U.S. 10-year yield hit a low of 2.289 percent, the lowest level since Nov. 22 when the 10-year yielded as low as 2.287 percent.



* Shiv Sena members heckle aviation minister, say MP be allowed to fly (var)

* Congress reaches out to CPI for anti-BJP alliance (ET)

* Probe agency files case vs former Haryana CM in land allotment case (IE)

* SC reserves order on charges against BJP leaders in Babri Masjid case (IE)

* Shunglu panel report indicts Kejriwal govt for abuse of power (IE)

* Jayalalithaa’s ‘coffin’ used as campaign prop by Panneerselvam (NDTV)

* PM Modi says development only mantra to change lives for better (PTI)

* Woman journalist attacked in Delhi park (ToI)

* Flood-like situation in J&K, Jhelum above danger mark in Srinagar (ZEE)

* Avalanche buries army post in Ladakh, 2 soldiers rescued, 3 missing (NDTV)

* Swaraj hopeful of permanent member spot in UN Security Council (PTI)


* Postmortems confirm chemical attack on Syria, says Turkey (The Guardian)

* Chinese media says Beijing should answer India “blows with blows” (ToI)

* Philippines President Duterte orders troops to South China Sea reefs (AFP)

* Devin Nunes to step down from US House Russia probe (FT)

* US President Trump drops Steve Bannon from National Security Council (RTR)

* Nikki Haley gets heckled at Global Women Summit in New York (NDTV)

* Myanmar leader Suu Kyi denies ethnic cleansing of Rohingya Muslims (AFP)

* Explosion at St Petersburg building, no one injured (RTR)

* Islamic State group kills 33 men in Syria (AP)

* Thai king endorses new military-backed constitution (AP)



* RBI leaves repo rate unchanged at 6.25% (Cogencis)

* Reverse repo adjusts to 6% as LAF corridor narrowed (Cogencis)

* RBI says FY18 CPI outlook challenging due to broad-based pressures(Cogencis)

* RBI says demonetisation effect on growth short-lived, modest (Cogencis)

* Parliament OKs GST bills; Rajya Sabha junks Opposition amendments (Cogencis)

* HUL job cuts, extent of layoffs could be between 10% and 15% (ET)

* State-run oil companies plan to review fuel rates daily (ET)

* Australia likely to start supplying uranium to India from this year (ET)

* Government unlikely to challenge Supreme Court liquor ban (BS)

* RBI allows banks to invest in REITs, InvITs (Cogencis)

* RBI sees inflation averaging 4.5% in Apr-Sep, 5% in Oct-Mar (Cogencis)

* RBI Patel says farm debt waiver undermines honest credit culture (Cogencis)

* India services PMI improves to 51.5 in Mar from 50.3 Feb (Cogencis)

* Govt extends deadline to link bank accounts to PAN to Jun 30 (Cogencis)

* Source says govt plans to divest at least 5% in Coal India by Aug (Cogencis)

* Oil minister says expect roadmap on oil PSUs integration in FY18 (Cogencis)

* Apax Partners to set aside $1 bln to bet on PM Modi’s reforms (ET)

* Coal secy says aim to give all local coking coal to steel cos 2020(Cogencis)

* Dealers say cement cos up prices by 15-20 rupee/50 kg in Delhi-NCR(Cogencis)

* BSNL earmarks 43-bln rupee capex for FY18, plans 75,000 WiFi sites (ET)

* Dealers say cement price up 15-25 rupee in Bengal, Odisha, Bihar (Cogencis)

* HUL’s parent co Unilever announces share buyback worth 5 bln euros(Cogencis)

* ReNew Power plans IPO to raise up to $600 mln (ET)

* Idea offers 10 GB data for 100 rupees for postpaid users for 3 mos(Cogencis)

* USDA pegs India Aug to Jul 2018 cotton crop 35.9 mln bales, up 4% (Cogencis)

* Official says no rain-related damage to wheat crop in north India (Cogencis)

* HPCL, Rajasthan agree on fincl plan for project (Cogencis)

* SEBI survey shows bk deposits top choice for India retail investors(Cogencis)

* Saudi Aramco interested in buying shr in PSU mega refinery project(Cogencis)

* RJio to withdraw 3-month free ‘Summer Surprise’ offer on TRAI push(Cogencis)

* TRAI says new quality norms for cellular services soon (PTI)

* Toyota says to recall 23,157 cars in India over Takata airbag issue (RTR)

* Will auction Aamby Valley if money not deposited, SC tells Sahara (PTI)

* Toyota recalls 23,157 units of Corolla Altis in India (PTI)

* Jet introducing 15-20% variable pay for senior management (BS)

* ADB scales down India’s FY18 growth estimate to 7.4% (BS)

* Maruti Suzuki MD says entry of new players will help co emerge stronger (BS)

* Google.org offers grants worth $8.4 mln to four NGOs in India (PTI)


* US weekly jobless claims fall by 25,000 in week ended Apr 1 (RTR)

* JP Morgan CEO Dimon says US exceptional, but ‘something is wrong’ (WP)

* BP cuts CEO’s pay package after shareholder backlash (RTR)

* Unilever restructures after failed Kraft bid (FT)

* Huawei defeats Samsung in patent battle (BBC)

* Iran struggles to expand oil exports as sea storage cleared (RTR)

* 7-Eleven operator to buy US stores from Sunoco for $3.3 bln (RTR)

* Amazon says it will hire 30,000 part-time workers over next year (USA Today)

* Ford to launch plug-in car in China next year, electrify most by 2025 (ET)

* Over 8,000 Uber and Lyft drivers fail Massachusetts background check (var)

* Global air travel demand up in Feb, despite US travel restrictions (ET)