Archive for January 21st, 2010

India Inc Set to Raise Rs.50k Crores Through IPOs in 2010: SMC Capital

India Inc Set to Raise Rs.50k Crores Through IPOs in 2010:SMC Capital

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Domestic companies seems set to get on with the huge fund raising exercise this year with plans to raise over Rs 50,000 crore via public offers, driven by the sharp recovery in the stock market.

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Almost 50 companies have already filed the draft prospectus with the market regulator, the Securities and Exchange Board of India (SEBI).

This depicts at the healthy prospect of the strong IPO market after the encouraging revival of IPO market in 2009.

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Indian companies had raised about Rs 20,000 crore through IPOs in 2009.

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Market Experts feel that fund raising can go up to Rs 50,000 crore this year since Government has already planned to sell shares in a host of public sector companies by way of IPOs and follow-on public offers (FPOs).

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Five companies aiming to raise over Rs 300 crore have already received the regulator’s clearance for the IPO, if draft prospectus filed with the SEBI is anything to go by.

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“The IPO pipeline looks strong in 2010.

Also the way the government is pushing ahead with the disinvestment plan, fund raising can go up to Rs 50,000 crore by the end of the year,” SMC Capitals Equity Head Jagannadham Thunuguntla said.

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As part of its disinvestment plans the government intends to raise over Rs 20,000 crore by way of FPOs of NMDC, SAIL, NTPC, and REC.

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Some of the prominent private companies which have their IPOs lined up, beside this, include Jindal Power, BPTP, Reliance Infratel, Emaar MGF etc;

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“Of the total IPOs that are in the pipeline, as many as 16 are from real estate sector. However, their success is a bit doubtful as the appetite for realty IPOs are currently less,” Thunuguntla added.

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Primary market fund raising in 2008 saw 30 IPOs mopping up Rs 17,000 crore, but shares of many these companies gave the investors modest-to-good returns.

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Jaggery(Gur) – “The Medicinal Sugar” Final Part

Hello Friends here we come up with an extension of our previous blog  “Jaggery(Gur) – The Medicinal Sugar Part 1” in our “Commodity Corner Series”.

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Jaggery(Gur) – “The Medicinal Sugar” Final Part

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In previous blog we  read about how  Jaggery is formed, what is the market scenario of  jaggery/gur commodity, its current price value and production volume of jiggery in India.

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In this blog we would read about the Karnatka Govt initiative of setting up a jaggery park at Mandya, the country’s fourth largest jaggery market.

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Karnataka Plans Jaggery Park:

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The park, coming up at Mandya, will be developed over the next five years.

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Even as the sugar industry is competing with jaggery makers for a larger share of cane for their mills, Karnataka government has initiated steps to popularise new sugar-rich cane varieties suitable for jaggery making and increase productivity of jaggery units.

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In what could be the first of its kind initiative in the country, the University of Agriculture Sciences, Bangalore, is setting up a jaggery park at Mandya, the country’s fourth largest jaggery market.

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The aim of this initiative is to identify new sugar-rich varieties and encourage farmers to adopt scientific methods to increase production.

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The agriculture ministry has sanctioned the project for setting up of the jaggery park as part of the Rashtriya Krishi Vikas Yojana (RKVY) under the auspices of Zonal Research Station of UAS at VC Farm in Mandya.

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Under the project, farmers will be imparted training on scientific practices in jaggery production.

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The Centre has sanctioned Rs 8 crore for the current year to set up the jaggery park on a pilot basis on 500 acres in Mandya.

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In the first phase, around 150 farmers in select villages of Mandya, Mysore and Chamarajanagar districts will be enrolled to plant sugar-rich varieties of sugarcane from January 2010.

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Under this project, it is envisaged to increase the productivity and adoption of non-chemical methods to produce jaggery.

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Currently, 2,000 jaggery units are operational in and around Mandya, which produce an average 20,000 quintals per day.

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Through this project, it is planned to double the daily production over a period of five years.

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For the current year, around 70,000 hectares is under sugarcane cultivation in Mandya, about 12 per cent less than last year.

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The park will also showcase underroof technologies developed by various sugar research institutes from across the country for the benefit of farmers.

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Banks Warned Regarding Insurance to Farmers

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Banks Warned Regarding Insurance to Farmers

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Banks Warned Regarding Insurance to Farmers:

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Severe action will be taken against banks if they adjust the amounts payable to farmers under crop insurance scheme (Rs. 801 crore) and input subsidy (Rs. 600 crore), against their old loan dues.

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Collectors have been asked to convene meetings of district level bankers’ committees to warn them against withholding these sums, affecting sowing of fresh crops.

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Also, they have been asked to take steps for re-scheduling of crop loans in 1,068 mandals declared as affected by drought or floods.

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The conference also decided to provide road connectivity to all SC and ST habitations with Rs 1,200 crore available for the purpose, begin procurement of kharif produce to build up buffer stocks for subsidizsd schemes.

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Mr Rao said a decision was taken to announce a new tribal policy aiming at empowerment of the tribals.

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In Other major Commodities Updates we can read that retail prices have sugar have started showing some signs of moderation in the national capital of the country.

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Retail sugar prices moderate in Delhi, high in other cities:

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In some good news for consumers, retail prices of sugar which have climbed by more than Rs 6 per kg since January 1 have shown some signs of moderation at least in the national capital Delhi, which has been bearing the brunt of the price spike.

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Latest data from food and consumer affairs ministry shows that retail sugar prices in the capital, which had risen to almost Rs 47 per kg around January 15 has dropped by Rs 2 per kg to Rs 45 in the last couple of days.

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In other major cities though there is hardly any big change.

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In Jammu, government data showed that retail sugar prices have climbed by Rs 8 per kg since January 11, while in Lucknow prices have hardened by Rs 6 and in Jaipur, Aizwal and Dehradun prices have moved by whopping Rs 9 to Rs 10 per kg since January 11.

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