BOC India was locked at 20% upper limit at Rs 287.45 at 12:35 IST on BSE, after the company's overseas parent said it plans to delist equity shares of BOC India from the stock exchanges in India.
The company made this announcement during trading hours today, 15 June 2010.
The stock hit a high of Rs 287.45 so far during the day, which is a record high for the counter. The stock hit a low of Rs 239 so far during the day. The stock had it a 52-week low of Rs 140.05 on 6 July 2009.
The company's equity capital is Rs 85.28 crore. Face value per share is Rs 10.
Linde Holdings Netherlands, a part of the promoter group of BOC India, has proposed to voluntarily delist the equity shares of the BOC India from the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the Calcutta Stock Exchange (CSE). The total holding of the foreign parent in BOC India is 89.48%.
The delisting will be done in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009. The floor price for the purpose of the delisting offer is Rs 225.29.
BOC India's net profit jumped 372.8% to Rs 23.83 crore on 61.4% rise in net sales to Rs 255.28 crore in Q1 March 2010 over Q1 March 2009.
Tuesday, June 15, 2010
MMTC jumps 22% on bonus, stock-split plan
MMTC surged 22.3% to Rs 34,887 at 11:12 IST after the company said its board will consider bonus issue and stock split on 29 June 2010.
The stock hit a high of Rs 37,999 and a low of Rs 34,230.15 so far during the day. The stock had hit a 52-week high of Rs 40,000 on 14 December 2009 and a 52-week low of Rs 25,600 on 13 July 2009.
The large-cap state-run trading company has an equity capital of Rs 50 crore. Face value per share is Rs 10.
The board will also consider audited financial results for the year ended March 2010 on the same day.
MMTC's net profit rose 147.60% to Rs 98.95 crore on 253.50% increase in net sales to Rs 17230.05 crore in Q4 March 2010 over Q4 March 2009.
The stock hit a high of Rs 37,999 and a low of Rs 34,230.15 so far during the day. The stock had hit a 52-week high of Rs 40,000 on 14 December 2009 and a 52-week low of Rs 25,600 on 13 July 2009.
The large-cap state-run trading company has an equity capital of Rs 50 crore. Face value per share is Rs 10.
The board will also consider audited financial results for the year ended March 2010 on the same day.
MMTC's net profit rose 147.60% to Rs 98.95 crore on 253.50% increase in net sales to Rs 17230.05 crore in Q4 March 2010 over Q4 March 2009.
Godawari Power & Ispat (GPIL) Power & steel to lift numbers
15 Jun 2010, 0009 hrs IST,Abhineet Singh,ET Bureau
Godawari Power & Ispat (GPIL) is one of the few small-cap steel companies that have run ahead of the Sensex despite the recent correction in metal stocks. In the past one year, its stock price has appreciated by nearly 60% against a 15% rise in the Sensex during the period.
Raipur-based GPIL is an integrated steel manufacturer and has a dominant presence in the long-product segment, especially mild steel wires. Besides, the company produces sponge iron, steel billets and sells surplus power from its heat recovery-based power plant.
The stock is currently on a declining trend in line with the movement in steel stocks. However, the selloff doesn’t seem to be directly related to its financial performance, as the company continues to show a strong revenue and profit growth. In the March ’10 quarter, the company’s revenues were up 37% to Rs 254 crore while net profit jumped two-and-a-half times to Rs 22.6 crore.
Going forward, operating margins are expected to improve, as the company plans backward integration through mining of iron ore and coal.
It is also venturing into value-added steel products and is setting-up an iron ore pelletisation plant to convert ore fines into pellets, which can be used as a raw material for making sponge iron as replacement of sized-iron ore. The company is currently implementing a 0.6-million-tonne iron ore pelletisation plant at its existing unit and plans to set up a similar unit in a joint venture in Orissa.
The company is also focusing on efficiency improvement in its manufacturing operations. The company has achieved about a 75% recovery of waste heat from flue gas of sponge iron kiln and utilisation, which is nearly three times the industry average. This has enabled it to produce more power without incurring additional costs and has helped improve operating margins.
The company plans to set up a 2-mt cement plant at a cost of Rs 628 crore and has acquired 1,235 acres of land in Chhattisgarh. The company may need to raise debt to fund the project, which may stretch its balance sheet in the medium term.
At its current market price,(CMP=210) the stock is trading at a P/E multiple of around 11 and looks attractive. With a low debt on its book, the company can go for further capex without straining its finances. Improving margins in both steel and power segments will add to the earnings in the forthcoming quarters.
Via: E.T
Godawari Power & Ispat (GPIL) is one of the few small-cap steel companies that have run ahead of the Sensex despite the recent correction in metal stocks. In the past one year, its stock price has appreciated by nearly 60% against a 15% rise in the Sensex during the period.
Raipur-based GPIL is an integrated steel manufacturer and has a dominant presence in the long-product segment, especially mild steel wires. Besides, the company produces sponge iron, steel billets and sells surplus power from its heat recovery-based power plant.
The stock is currently on a declining trend in line with the movement in steel stocks. However, the selloff doesn’t seem to be directly related to its financial performance, as the company continues to show a strong revenue and profit growth. In the March ’10 quarter, the company’s revenues were up 37% to Rs 254 crore while net profit jumped two-and-a-half times to Rs 22.6 crore.
Going forward, operating margins are expected to improve, as the company plans backward integration through mining of iron ore and coal.
It is also venturing into value-added steel products and is setting-up an iron ore pelletisation plant to convert ore fines into pellets, which can be used as a raw material for making sponge iron as replacement of sized-iron ore. The company is currently implementing a 0.6-million-tonne iron ore pelletisation plant at its existing unit and plans to set up a similar unit in a joint venture in Orissa.
The company is also focusing on efficiency improvement in its manufacturing operations. The company has achieved about a 75% recovery of waste heat from flue gas of sponge iron kiln and utilisation, which is nearly three times the industry average. This has enabled it to produce more power without incurring additional costs and has helped improve operating margins.
The company plans to set up a 2-mt cement plant at a cost of Rs 628 crore and has acquired 1,235 acres of land in Chhattisgarh. The company may need to raise debt to fund the project, which may stretch its balance sheet in the medium term.
At its current market price,(CMP=210) the stock is trading at a P/E multiple of around 11 and looks attractive. With a low debt on its book, the company can go for further capex without straining its finances. Improving margins in both steel and power segments will add to the earnings in the forthcoming quarters.
Via: E.T
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