The second quarter numbers of Havells India missed at the topline but EBITDA was in line on higher margin. 2H outlook appears robust on reviving infrastructure spend and upcoming festive demand. Increased industrial demand is likely to translate into stronger sales not only in wires and cables but also in switchgears where EBIT margins are likely to be sustained. This is likely to lead to increased sales and better EBIT margins.

Stronger infrastructure spending has led to increased demand for electrical wires and cables with industrial volumes up 16% y-y and domestic volumes up 4% y-y. Overall segment revenue was lower owing to lower commodity prices.

Increased industrial demand is likely to translate into stronger sales not only in wires and cables but also in switchgears where EBIT margins are likely to be sustained. This may lead to increased sales & better EBIT margins.

Revenue decline is attributable to: a) a 1.3% decline y-y in switchgears, b) cables and wires falling by 5% y-y despite volume growth of 16% and 4% in industrial and domestic segments owing to weaker commodity prices; c) lighting and fixtures growth (1.5% y-y) being muted as LED growth (+48% y-y) was offset by decline in CFL volumes; and d) electrical consumer durables growing at c6%.

Metals and mining major Vedanta and Aditya Birla group flagship firm Hindalco Industries will shift out of the BSE benchmark Sensex from December 21. (PTI)

Metals and mining major Vedanta and Aditya Birla group flagship firm Hindalco Industries will shift out of the BSE benchmark Sensex from December 21.

These stocks would be replaced by Adani Ports and Special Economic Zone and Asian Paints Ltd.

Besides, three firms — NHPC, Jaiprakash Associates and Unitech — would be dropped from the BSE 100 index as well as S&P BSE Carbonex, while various changes have also been made to a host of other BSE indices as well.

The move is a part of Asia Index Private Ltd’s semi-annual reconstitution results.

The BSE-100, an index of the top 100 listed companies in the country, would see the inclusion of — Britannia Industries, Bharti Infratel and Motherson Sumi Systems.

As many as nine firms would be replaced on BSE 200 index, while 22 companies would be excluded from BSE 500.

Companies like Muthoot Finance, Unitech and IFCI would be excluded from BSE 200, which will see the inclusion of firms such as IDFC, Pfizer India and Adani Enterprises.

Reliance Industrial Infrastructure and Financial Technologies India Ltd among others would be moved out of BSE 500, while SpiceJet and Trident are among the stocks which would be included.

BSE Teck would see replacement of Persistent Systems and KPIT Technologies with Tata Elxsi and MphasiS.

National Stock Exchange listed Perfect Infraengineers on Friday on its SME platform. (Reuters)

National Stock Exchange listed Perfect Infraengineers on Friday on its SME platform. Significantly, Small Industries Development Bank of India (SIDBI) is one of the merchant banker of the issue. It is for the first time that SIDBI is acting as a merchant banker in the exchange traded SME space. SIDBI is the principal financial institution for the promotion, financing and development of the Micro, Small and Medium Enterprise sector and for co-ordination of the functions of the institutions engaged in similar activities.

Perfect Infraengineers will be the 32nd company overall to list on EMERGE platform of NSE (IPO and ITP included).

Ravi Varanasi, chief – business development, NSE, said, “Response from SME segment has so far been encouraging. Since NSE encourages high level of corporate governance, many are at different stages of evaluation and will be listed soon, like Perfect Infraengineers.”

As per the information received from the company, it was incorporated in May, 1996. Perfect Infraengineers is engaged in the business of air conditioners and providing all inclusive maintenance services to multinational and other Indian corporate.

Later during 2006-07, they diversified and expanded activities and started providing turnkey jobs of Heating Ventilation and Air Conditioning (HVAC).

Its consolidated total revenue from continuing operations increased from about Rs 197 million in fiscal 2013 to Rs 255 million in fiscal 2015.

Its consolidated restated profits after tax from continuing operations increased from Rs 7.09 million in fiscal 2013 to Rs 15.64 million in fiscal 2015. The company entered capital market with its maiden initial public offering (IPO) of 25,08,000 equity shares of face value of Rs 10/- aggregating to Rs 5.77 crores. The issue was opened for subscription from Oct 30, 2015 and closed on Nov 04, 2015. Beside SIDBI the other merchant banker to the issue was Keynote Corporate Services Limited.

Jubilant FoodWorks, which operates Domino’s Pizza chain after the company teamed up with Hyderabad-based start-up Zippr for easier delivery. (Photo: Reuters)

Shares of Jubilant FoodWorks, which operates Domino’s Pizza chain, on Friday surged as much as 5 per cent in morning trade on bourses after the company teamed up with Hyderabad-based start-up Zippr for easier delivery.

The company will use Zippr’s coding method to deliver orders instead of using the consumer’s address.

Jubilant FoodWorks on Friday opened on a bullish note at Rs 1,441 on BSE and surged 5.11 per cent to a high of Rs 1,475.95.

On NSE, the stock opened at Rs 1,433 and jumped 4.73 per cent to an early high of Rs 1,477.

Meanwhile, the broader market was also trading in the green, with the benchmark index Sensex trading up 174 points at 26,016.

The location management platform has developed an 8-character code called a ‘Zippr’, which replaces the four line address. Now, Domino’s online customer will simply use a Zippr code while checking out after placing the order online, instead of entering a four-line address.

Domino’s will start Zippr services initially for Delhi NCR users and the same would be rolled out in other cities in the next 15 days.

At 9.53 am, PFS shares were trading 2.92 per cent up Rs 42.25. The scrip opened at Rs 42 and had touched a high and low of Rs 42.45 and Rs 41.75, respectively, in trade so far. (Photo: Reuters)

Shares of PTC India Financial Services (PFS) jumped as much as 3.15 per cent in the early trade on Friday after the company said that it has signed a pact with India Infrastructure Finance Company (IIFCL) to provide financing for infrastructure projects.

At 9.53 am, PFS shares were trading 2.92 per cent up Rs 42.25. The scrip opened at Rs 42 and had touched a high and low of Rs 42.45 and Rs 41.75, respectively, in trade so far. Sensex was down 49.05 points, or 0.19 per cent, at 25,792.87.

As per the agreement, PFS and IIFCL will come together to provide one single window to promoters of Infrastructure projects particularly in energy value chain and facilitate their financing in India. Both companies will collaborate to provide credit enhancement facility to various projects to enable their financing at competitive rates, apart from collaborating in areas of mutual interest towards service to infrastructure sector.

The promoters holding in the company stood at 60 per cent, while institutions and non-institutions held 13.89 per cent and 26.11 per cent respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs 73.15 on 15-Jan-2015 and a 52 week low of Rs. 37.10 on 08-Sep-2015.

PFS is a non-banking finance company promoted by FTC India Limited. PFS has been granted the status of an Infrastructure Finance Company (IFC) by the Reserve Bank of India. The Company offers an array of financial products to infrastructure companies in the entire energy value chain. PFS also provides fee based services viz loan syndication and underwriting etc.