Posted on 04 March 2011 by admin Roha
Mumbai Mar 4 ,2011 (Ajay Rawal )
Coal India (CIL) has raised prices by 30-100%, largely for non-power consumers. While prices for A-B grades (primarily consumed by non-power industries) have been hiked by 100% for all consumers, C-G grades (consumed by all) have been increased by 30% for non-power/fertilizers consumers. However, Mahanadi Coalfields (a subsidiary co and ~22% of CIL’s total volumes) has raised prices by 16-25% for all kind of consumers (including power producers). Overall, we expect this to translate into an average linkage price increase of 15% in FY12E and generate additional revenue of Rs 62 bn in FY12E. Impact on consuming industries is also discussed.
This hike also signifies CIL’s power to raise prices independently despite adverse macro conditions. We also view this event as a first step towards alignment of CIL’s coal pricing to market driven pricing. Rising domestic coal prices would put pressure on govt. to expedite clearances for coal projects leading to higher volume growth for CIL. We have not considered upside from additional volume growth. Our sales growth assumption for FY12 stands at 5% (450 mn tonnes), based on inventory sales as production growth assumed at only 2% in FY12.
Our IFRS compliant EPS estimate for FY12E now stands at Rs 26.5 (vs. Rs 21.2 earlier). We reiterate our strong buy call on CIL with a revised target price of Rs 412 (as against Rs 373 earlier). Any further coal price increase, post wage hike in July 2011 (25% considered in our assumption), could provide additional upside to our earnings estimates and target price.
Posted on 04 March 2011 by admin Roha
Innovative programme aimed at controlling Diabetes within 180 days of diagnosis
Mumbai, March 4th, 2011: (Ajay Rawal) IMPROVE Control programme an ambitious project which aims to change the pattern of diabetes treatment management through a multi-pronged approach involving healthcare professional training, awareness campaign, patient education and training of other medical personnel involved in the management of diabetes was launched on the eve of the Global Premix Summit held by diabetes major Novo Nordisk.
The Global Premix Summit which be will held at Mumbai on 5th March focuses on premix insulin initiation and intensification for optimal patient care, and will bring together a distinguished faculty of top global and national experts to discuss the latest insights about the treatment of Type 2 diabetes and use of premix insulin. In this Summit, more than 350 physicians from India and other countries such as China, Denmark, Turkey and Iran will participate.
As part of the IMPROVE Control programme Novo Nordisk will take up a nation-wide drive to bring awareness among patients and physicians. The programme is designed in a phased manner involving all stakeholders to facilitate a programme that is aimed at bringing Diabetes under control within 6 months of diagnosis.
The program intends to;
· Quantify the extent of the problem in India by evaluating control, management, complications, and psychosocial aspects of people with diabetes in India Through the DiabCare India 2011 survey
· Reach out to at least 10,000 doctors across India Through educational programs consisting of clinical workshops, and continuing medical education (CME) programmes, Educational Programme .
· Have a strong diabetes awareness campaigns through the mass media, patient education initiatives, and other awareness campaigns
· Assess the effect of this intervention in a structured and systematic manner to see the impact on the patients life
Through this initiative, the program intends to improve the lives of more than half a million people living with diabetes in India.
Dr Shashank R Joshi, Endocrinologist,Joshi Clinic, Lilavati & Bhatia Hospital Mumbai told mediapersons here today “It can be easily said that a systematic approach to improve awareness about diabetes and its control both among patients and the medical fraternity is urgent and a topical need of the hour in India today. Over the next few months a team of experts will evaluate control, management, complications and psycho-social aspects of people with diabetes in India. This will also include propagating the message of benefits of “early glycaemic control”, aim for a well defined glycaemic target and reduce the period of clinical inertia in physicians and patients with diabetes.
“It is a comprehensive programme that will educate both specialists and patients on diabetes management and to establish the fact that Diabetes could be brought under control in six months.” Prof. Ashok Kumar Das Senior Professor of Medicine and Medical Superintendent of the Jawaharlal Institute of Postgraduate Medical Education and Research (JIPMER) added.
The event will see also a discussion on the Indian Insulin Guidelines. The insulin treatment guidelines generated by different authorities and bodies across the globe — are rarely consistent in the advice they offer and are often based around a Western lifestyle. The Indian Insulin Guidelines (published in 2009) were developed with the support of over 250 physicians across India. Their aim was to provide a simple and practical algorithm for starting and titrating premix insulin therapy, which is the most frequently prescribed insulin regimen for patients with type 2 diabetes in India.
Posted on 03 March 2011 by admin Roha
Lovable Lingerie IPO to open on March 8
Mumbai Mar o3 (Ajay Rawal)
Mumbai-based women’s innerwear manufacturer Lovable Lingerie is entering capital market with a public issue of 45.5 lakh equity shares of face value of Rs 10 each on March 8.
The issue would constitute 27.08% of the post issue paid-up capital, which will close on March 11.
The company CMD Mr L Vinay Reddy told mediapersons here today, ” The firm will use the issue proceeds to set up a manufacturing facility to create additional capacity at Bangalore, where it will invest Rs 23 crore. Lovable also plans to invest Rs 25 crore in its joint venture Lovable Lifestyles Private Limited, which will market, manufacture, distribute and direct retail in the super premium lingerie segment. Lovable will hold 90% stake in the JV with London’s Lifestyle Galleries. It will also spend additional amount on brand building and setting up exclusive brand outlets (EBOs).
Sequoia Capital India’s growth fund picked up a 5.95% stake in a pre-IPO investment in the company for Rs 20 crore. The deal was involved SCI Growth Investments II picking up one million shares at a price of Rs 200 per share. The deal would value the firm on a post-issue basis at around Rs 336 crore.
With this pre-IPO deal benchmark, the firm could be looking to raise anywhere over Rs 91 crore through the issue.
Anand Rathi Advisors Limited is the book running lead manager to the proposed IPO.
The company’s brands include ‘Lovable’, ‘Daisy Dee’ and ‘College Style’ which are retailed through 103 distributors in India. Lovable has three manufacturing facilities – two in Bengaluru, with an installed capacity of 60 lakh pieces p.a. and another unit in Uttarakhand with an installed capacity of 7.5 lakh pieces p.a.