Friday, 5 September 2008

RPL to start production from new unit by Sep

Reliance Petroleum (RPL), a subsidiary of Reliance Industries (RIL), will likely start production from it`s new refinery by early September, reports Business Standard.

The company has already finished with the technical work on the refinery and has started testing the refinery. The company will test various quantities of crude oil by processing them into petroleum products, the entire testing will take around two months.

The company will increase production gradually before December to reach full capacity of 580,000 barrels per day.The 580,000-barrels-per-day refinery at Jamnagar in Gujarat is being commissioned at cost of Rs 270 billion and is world`s sixth largest refinery and is commissioned earlier than expected.

The stock is expected to grow steadily but will take pace in next 4 months target expected 250 in next 8-10 months

TTML launches `Instachat` voice conferencing service

Tata Teleservices (Maharashtra) (TTML) is partnering with Kodiak Networks, a provider of advanced wireless voice systems, to launch `Instachat` conferencing service to all its customers in Maharashtra and Goa.

TTML is the first CDMA operator in the world to offer this service which is accessible from any Tata Indicom post-paid handset. By dialing a single number, Tata Indicom subscribers will be able to simultaneously reach a group of up to 9 other telephone users.

The group calling application is aimed at large corporates, small and medium enterprises, community groups and families, wherever there is a need for instant, voice-based group communication.

The unique, revenue-enhancing voice application is enabled by the all-IP, standards-based Kodiak Real-time Exchange System

Buy Karuturi Networks

Religare research report has maintained buy rating on Karuturi Global with target price of Rs 35 in its June 19 report.
"International cut flower market valued at USD 64 billion; expected to grow at 10–12% CAGR. Roses command largest share of industry turnover at 70% with Europe being the biggest cut flower market, accounting for 50% of global consumption. Cut flower cultivation shifting to developing countries like Kenya, Ethiopia and India due to favourable cost and climate conditions.
Karuturi Global is the world's largest producer of roses, cultivating 585 million stems per annum. Boasts over a decade of experience in rose cultivation with operations in Ethiopia, Kenya and India. Strategic foothold in Ethiopia and Kenya would enable the company to cater to burgeoning demand from Europe and augment its global market share.
At the current level the stock is quoting at 7.4x and 5.5x its FY09E and FY10E earnings respectively. We have assigned the stock a P/E multiple of 8x as we expect a re-rating due to its premium positioning in the industry as well as its recent foray into food processing. We have a target price of Rs 35. Buy" according to Religare report.

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