Chartered Logistics is buzzing in trade. In an interview to CNBC-TV18, Harsh Gandhi, ED of Chartered Logistics spoke about latest happenings in the company as well as about impact of goods and services tax (GST) on the sector. GST transition has been unstable so far. Many dispatches are on hold which will put some pressure on figures, he said.
Sources tell CNBC-TV18 that Nusli Wadia has written to Tata Chemical shareholders urging them to vote with their conscience at today's EGM.
Tata Chemicals will be holding its EGM later today. On the agenda is the removal of Cyrus Mistry which is likely to be declared reducent. Shareholders will also be voting on the resolution to remove Nusli Wadia as director of the board.
peaking to CNBC-Tv18 Amit Tandon of IIAS said that the voting pattern at TCS which removed Cyrus Mistry reflects the conversation on the Street.
Speaking to CNBC-TV18 Kaustubh Chaubal of Moody's said that there is no change in ratings of Tata group companies but should any new facts emerge, then they would review them.
Sources said that Tata Chemicals may ask Mistry to stay as Chairman. A detailed report of the minutes of the board meeting is expected to be filed with the exchanges soon.
On gas price hike, R Mukundan of Tata Chemicals says it will be a pass through for the company. He adds that for price hike to be positive, it needs to be accompanied with increase in supply.
The subsidy outstandings which were around Rs 35,000-40,000 crore have climbed up to over Rs 1 lakh crore. If the same level of subsidy underpayment continue, by next year the industry is expected to face a Rs 165,000-crore outstandings.
New gas ricing regime will help increase domestic output, says Tata Chemicals and calls for increase market price of urea.
The new urea policy is a welcome move said PK Ghose, CFO of Tata Chemicals in an interview to CNBC-TV18. Urea policy is important as India imports 7-8mn tones of urea which will be unaffordable at abnormal prices.
Tarun Surana of Sunidhi Securities, says that the immediate beneficiary in terms of incremental EPS from the government move to encourage investments in urea manufacturing will be Chambal Fertilizer and RCF.
Ramakrishnan Mukundan, who was appointed CEO of the Rs 13,000-crore Tata Chemicals Limited (TCL), in 2009 at the age of 42, explains to CNBC-TV18 the challenges, opportunities and vision for the company.
R Mukundan of Tata Chemicals describes how innovation is driving change this year with the launch of iShakti in branded pulses and flavored salts.
In an interview to CNBC-TV18 R Mukundan, managing director, Tata Chemicals spoke about the latest happenings in the company and the way ahead.
PK Ghose, chief financial officer, Tata Chemicals informed that there is still no clarity if the much awaited hike in urea prices will be announced.
First Leasing has been buzzing around in the market on rumours of a stake sale. Buzz has it that the company is all set to sell 21% in First Leasing to companies like Temasek and Tata Chemicals. However, company chairman AC Muthiah tells CNBC-TV18 that the news of such stake sale is ‘speculative rumours’.