10:25am Gujarat Gas in News: Gujarat
Gas said pursuant to the letter dated April 01 from PNGRB, received by GGCL on
April 10 granting GGCL an authorisation to lay, build, operate, or expand city
or local natural gas distribution network (CGD network) for the geographical
area of Thane, GGCL has accepted the authorisation in schedule D of the PNGRB
vide a confirmation letter to PNGRB, on April 13.
As per the provisions of the PNGRB (exclusivity
for city or local natural gas distribution networks) Regulation, 2008, GGCL has
been granted 300 months of infrastructure exclusivity i.e. valid up to April
01, 2040 and 60 months of marketing exclusivity valid up to April 01, 2020 for
the CGD network.
Further, the authorised area for laying,
building, operating or expanding the proposed CGD network will cover a
geographical area of 8,683 square kilometer, said the company in its filing to
the exchange.
10:00am Market Check
The market declined marginally on profit booking
in healthcare, technology and telecom stocks. Index heavyweights Reliance
Industries and HDFC also saw selling pressure. However, banks stocks bucked the
trend.
The Sensex dropped 60.98 points to 28983.46 and
the Nifty fell 20.10 points to 8813.90 while the broader markets continued
their outperformance, up half a percent. About 1260 shares have advanced, 727
shares declined, and 137 shares are unchanged on the BSE.
Tata Motors slipped 1.8 percent post JLR retail
sales growth of 6 percent in March, which was slightly than street estimates.
Jaguar volumes were down 20 percent year-on-year while Land Rover volumes
jumped 13 percent Y-o-Y. China volumes were the biggest disappointment, at 7000
units, down 34 percent Y-o-Y.
ACC gained 1.5 percent as Q1 results
positively surprised at the EBITDA level. Deutsche Bank said Q1 was off to a
robust start and they raised CY15E EPS by 5 percent and increased target price
to Rs 1630/share. However, Goldman Sachs maintained a sell and said volume
decline in Q1CY15 results reinforced its view that ACC will continue to lose
market share as it has not added capacity. For More information please visit
this site www.appsmine.org
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