Tech Mahindra surged 2.50% to Rs 816 at 10:40 IST on BSE, on reports the company has signed five-year deal worth $250 million with two customers.
The stock hit a high of Rs 819.65 and a low of Rs 790.20 so far during the day. The stock has a 52-week high of Rs 1550 on 11 October 2007 and a 52-week low of Rs 614.80 on 17 March 2008.
The company’s current equity is Rs 121.64. Face value per share is Rs 10.
The current price of Rs 816 discounts Q1 June 2008 annualized EPS of Rs 83.74, by a PE multiple of 9.74.
In July 2008, Tech Mahindra bagged an order worth $700 million from BT Group for systems transformation program. BT Group is the largest client and a shareholder of Tech Mahindra.
Tech Mahindra reported a net profit of Rs 254.36 crore in Q1 June 2008 as against a net loss of Rs 207 crore in Q4 March 2008. Net Sales rose 11.10% to Rs 1100.70 crore in Q1 June 2008 over Q4 March 2007.
Tech Mahindra provides IT services and solutions to the telecom sector. It provides a variety of services ranging from IT strategy and consulting to system integration, design, application development, implementation, maintenance and product engineering.
Wednesday, September 10, 2008
Hydro S&S Industries soars on buyback plan
Hydro S&S Industries galloped 13.17% to Rs 39.10 at 10:13 IST on BSE, after the company said on Tuesday, 9 September 2008, its board will meet on 16 September 2008 to consider buyback of equity shares.
The company made this announcement after trading hours on Tuesday, 9 September 2008.
The stock hit a high of Rs 41.45 and a low of Rs 39.10 so far during the day. The stock has a 52-week high of Rs 81.60 on 1 January 2008 and a 52-week low of Rs 30.10 on 4 September 2008.
The company’s current equity is Rs 6.53. Face value per share is Rs 10.
The current price of Rs 39.10 discounts Q1 June 2008 annualized EPS of Rs 0.25, by a PE multiple of 156.40.
Hydro S&S Industries’ net profit fell 97.40% to Rs 0.04 crore on 36.90% increase in net sales to Rs 35.09 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing reinforced polypropylene compounds. Its products include polymer compounds.
The company made this announcement after trading hours on Tuesday, 9 September 2008.
The stock hit a high of Rs 41.45 and a low of Rs 39.10 so far during the day. The stock has a 52-week high of Rs 81.60 on 1 January 2008 and a 52-week low of Rs 30.10 on 4 September 2008.
The company’s current equity is Rs 6.53. Face value per share is Rs 10.
The current price of Rs 39.10 discounts Q1 June 2008 annualized EPS of Rs 0.25, by a PE multiple of 156.40.
Hydro S&S Industries’ net profit fell 97.40% to Rs 0.04 crore on 36.90% increase in net sales to Rs 35.09 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing reinforced polypropylene compounds. Its products include polymer compounds.
Shreyas Shipping sinks
Shreyas Shipping & Logistics declined 3.11% to Rs 53 at 9:58 IST on BSE, even as the company said on Tuesday, 9 September 2008, it has sold its vessel M V OEL India for consideration of $28.50 million.
The company made this announcement during trading hours on Tuesday, 9 September 2008, when the stock surged 7.57% to Rs 54.70.
The stock hit a high of Rs 53 and a low of Rs 53 so far during the day. The stock has a 52-week high of Rs 158.80 on 8 January 2008 and a 52-week low of Rs 44.60 on 2 July 2008.
The company’s current equity is Rs 21.96. Face value per share is Rs 10.
The current price of Rs 53 discounts Q1 June 2008 annualized EPS of Rs 16.59, by a PE multiple of 3.19.
In June 2008, Shreyas Shipping & Logistics sold its vessel M V OEL Express for a consideration of $11.5 million.
Shreyas Shipping & Logistics’ net profit rose 6.3% to Rs 9.11 crore on 11.6% increase in net sales to Rs 43.30 crore in Q1 June 2008 over Q1 June 2007.
Shreyas Shipping & Logistics‘ principal activities are to provide shipping and logistics services. The shipping segment provides charter and feeding services. The logistics segment comprises of shipping part of domestic and liner business.
The company made this announcement during trading hours on Tuesday, 9 September 2008, when the stock surged 7.57% to Rs 54.70.
The stock hit a high of Rs 53 and a low of Rs 53 so far during the day. The stock has a 52-week high of Rs 158.80 on 8 January 2008 and a 52-week low of Rs 44.60 on 2 July 2008.
The company’s current equity is Rs 21.96. Face value per share is Rs 10.
The current price of Rs 53 discounts Q1 June 2008 annualized EPS of Rs 16.59, by a PE multiple of 3.19.
In June 2008, Shreyas Shipping & Logistics sold its vessel M V OEL Express for a consideration of $11.5 million.
Shreyas Shipping & Logistics’ net profit rose 6.3% to Rs 9.11 crore on 11.6% increase in net sales to Rs 43.30 crore in Q1 June 2008 over Q1 June 2007.
Shreyas Shipping & Logistics‘ principal activities are to provide shipping and logistics services. The shipping segment provides charter and feeding services. The logistics segment comprises of shipping part of domestic and liner business.
Post-Market Commentary, Wednesday, September 10, 2008
Sensex slide 238-points
Metal shares were the chief casualty of the day with Sterlite Industries plunging over 11% and Tata Steel sliding 5%. Index heavyweight Reliance Industries dropped little under 3%. The market breadth was extremely weak.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 10 September 2008, sold shares worth a net Rs 1,037.28 crore. Domestic funds bought shares worth a net Rs 492.56 crore.
Metal shares were the chief casualty of the day with Sterlite Industries plunging over 11% and Tata Steel sliding 5%. Index heavyweight Reliance Industries dropped little under 3%. The market breadth was extremely weak.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 10 September 2008, sold shares worth a net Rs 1,037.28 crore. Domestic funds bought shares worth a net Rs 492.56 crore.
Tuesday, September 9, 2008
Sterlite Industries on group restructuring plan
Sterlite Industries (India) tumbled 5.68% to Rs 587 at 14:11 IST on BSE after parent Vedanta Resources said it will transfer Sterlite's aluminium and energy businesses to Madras Aluminium Company as part of restructuring.
The company made the announcement during market today, 9 September 2008.
The stock hit a high of Rs 628 and a low of Rs 577.55 so far during the day. The stock had a 52-week high of Rs 1140 on 7 December 2007 and a 52-week low of Rs 549.90 on 12 August 2008.
The large-cap copper producer has an equity capital of Rs 141.74 crore. Face value per share is Rs 2.
The current price of Rs 587 discounts its Q1 June 2008 annualised EPS of Rs 20.21, by a PE multiple of 29.04.
Vedanta Resources Plc on Tuesday, 9 September 2008 announced a restructuring to simplify its corporate structure into three commodity focused groups: Copper and Zinc-Lead, Aluminium and Energy and Iron Ore.
Under the scheme, which will be effective from April 2009, Sterlite will demerge its aluminium and energy businesses to Madras Aluminium Company (Malco) (to be simultaneously renamed Sterlite Aluminium) and Vedanta will transfer its 79.4% equity interest in Konkola Copper Mines Plc (KCM) to Sterlite. The scheme will also eliminate cross holdings between businesses arising out of Malco's holding in Sterlite. The corporate restructuring is expected to be completed by March 2009.
Malco will issue 7 shares of Rs 2 each to the shareholders of Sterlite for every 4 shares of Rs 2 each held by them. Sterlite will issue 1 share of Rs 2 each to Malco shareholders for every 51 shares of Rs 2 each held by them.
Sterlite Industries (India)'s net profit rose 77.7% to Rs 357.93 crore on a 4.8% decline in sales to Rs 2964.43 crore in Q1 June 2008 over Q1 June 2007.
Sterlite Industries is a leading producer of copper in India. It is a part of Vedanta Resources, a London listed metals and mining major, with aluminum, copper and zinc operations in India and Australia.
The company made the announcement during market today, 9 September 2008.
The stock hit a high of Rs 628 and a low of Rs 577.55 so far during the day. The stock had a 52-week high of Rs 1140 on 7 December 2007 and a 52-week low of Rs 549.90 on 12 August 2008.
The large-cap copper producer has an equity capital of Rs 141.74 crore. Face value per share is Rs 2.
The current price of Rs 587 discounts its Q1 June 2008 annualised EPS of Rs 20.21, by a PE multiple of 29.04.
Vedanta Resources Plc on Tuesday, 9 September 2008 announced a restructuring to simplify its corporate structure into three commodity focused groups: Copper and Zinc-Lead, Aluminium and Energy and Iron Ore.
Under the scheme, which will be effective from April 2009, Sterlite will demerge its aluminium and energy businesses to Madras Aluminium Company (Malco) (to be simultaneously renamed Sterlite Aluminium) and Vedanta will transfer its 79.4% equity interest in Konkola Copper Mines Plc (KCM) to Sterlite. The scheme will also eliminate cross holdings between businesses arising out of Malco's holding in Sterlite. The corporate restructuring is expected to be completed by March 2009.
Malco will issue 7 shares of Rs 2 each to the shareholders of Sterlite for every 4 shares of Rs 2 each held by them. Sterlite will issue 1 share of Rs 2 each to Malco shareholders for every 51 shares of Rs 2 each held by them.
Sterlite Industries (India)'s net profit rose 77.7% to Rs 357.93 crore on a 4.8% decline in sales to Rs 2964.43 crore in Q1 June 2008 over Q1 June 2007.
Sterlite Industries is a leading producer of copper in India. It is a part of Vedanta Resources, a London listed metals and mining major, with aluminum, copper and zinc operations in India and Australia.
Madras Aluminium reaches a summit
Madras Aluminium was locked at 20% upper limit of Rs 219 on BSE, after parent Vedanta said it will transfer the group's aluminium and energy businesses to the company.
The stock witnessed a roller coaster ride. It plunged as much as 19.72% to Rs 146.50 in early afternoon trade soon after the Vedanta group unveiled restructuring plan for the group.
Today’s high of Rs 219 is a lifetime high for the counter. The stock had hit 52-week low of Rs 85.47 on 25 March 2008
Volumes in the stock were huge. On BSE, 30.6 lakh shares changed hands in the counter. The stock had average daily volume of 5,705 shares in the last three months to 5 September 2008.
As per the restructuring plan, Sterlite Industries will demerge its aluminium and energy businesses to Madras Aluminium. Following the restructuring of the Vedanta group, Madras Aluminium will be renamed as Sterlite Aluminium. The company will reportedly invest Rs 75000 crore over three years to boost capacity.
Sterlite Industries shareholders would get seven shares in Madras Aluminium for every four shares held as part of a restructuring. Also as a part of the restructuring, shareholders of Madras Aluminium will get one equity share of Sterlite for every 51 equity shares held in the company. The latter is to compensate Madras Aluminium shareholders for cancellation of Madras Aluminium’s 3.61% stake in Sterlite.
Madras Aluminium’s net profit declined 41.3% to Rs 21.50 crore on 22.5% growth in net sales to Rs 136.03 crore in Q1 June 2008 over Q1 June 2007.
Madras Aluminium Company is engaged in the business of primary aluminum production.
The stock witnessed a roller coaster ride. It plunged as much as 19.72% to Rs 146.50 in early afternoon trade soon after the Vedanta group unveiled restructuring plan for the group.
Today’s high of Rs 219 is a lifetime high for the counter. The stock had hit 52-week low of Rs 85.47 on 25 March 2008
Volumes in the stock were huge. On BSE, 30.6 lakh shares changed hands in the counter. The stock had average daily volume of 5,705 shares in the last three months to 5 September 2008.
As per the restructuring plan, Sterlite Industries will demerge its aluminium and energy businesses to Madras Aluminium. Following the restructuring of the Vedanta group, Madras Aluminium will be renamed as Sterlite Aluminium. The company will reportedly invest Rs 75000 crore over three years to boost capacity.
Sterlite Industries shareholders would get seven shares in Madras Aluminium for every four shares held as part of a restructuring. Also as a part of the restructuring, shareholders of Madras Aluminium will get one equity share of Sterlite for every 51 equity shares held in the company. The latter is to compensate Madras Aluminium shareholders for cancellation of Madras Aluminium’s 3.61% stake in Sterlite.
Madras Aluminium’s net profit declined 41.3% to Rs 21.50 crore on 22.5% growth in net sales to Rs 136.03 crore in Q1 June 2008 over Q1 June 2007.
Madras Aluminium Company is engaged in the business of primary aluminum production.
Aro Granite fixed 30 September 2008 as the record date for 1:2 bonus issue.
Aro Granite Industries gained 1.14% to Rs 93 at 12:37 IST on BSE, after the company said on Tuesday, 9 September 2008, its board has fixed 30 September 2008 as the record date for 1:2 bonus issue.
The company fixed the record date during trading hours today, 9 September 2008.
The stock hit a high of Rs 94 and a low of Rs 91.80 so far during the day. The stock has a 52-week high of Rs 142 on 16 January 2008 and a 52-week low of Rs 65.70 on 19 March 2008.
The company’s current equity is Rs 7.39. Face value per share is Rs 10.
The current price of Rs 93 discounts Q1 June 2008 annualized EPS of Rs 20.78, by a PE multiple of 4.48.
Aro Granite Industries’ net profit rose 4.1% to Rs 3.84 crore on 27.2% increase in net sales to Rs 31.38 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and selling granite tiles and slabs. It exports granite to Canada, UK, South America, South Africa, Australia, New Zealand, Russia, Hawaii and other countries of the world.
The company fixed the record date during trading hours today, 9 September 2008.
The stock hit a high of Rs 94 and a low of Rs 91.80 so far during the day. The stock has a 52-week high of Rs 142 on 16 January 2008 and a 52-week low of Rs 65.70 on 19 March 2008.
The company’s current equity is Rs 7.39. Face value per share is Rs 10.
The current price of Rs 93 discounts Q1 June 2008 annualized EPS of Rs 20.78, by a PE multiple of 4.48.
Aro Granite Industries’ net profit rose 4.1% to Rs 3.84 crore on 27.2% increase in net sales to Rs 31.38 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and selling granite tiles and slabs. It exports granite to Canada, UK, South America, South Africa, Australia, New Zealand, Russia, Hawaii and other countries of the world.
Kamanwala Housing fixed 22 September 2008 as the record date for 1:1 bonus issue.
Kamanwala Housing Construction galloped 5.62% to Rs 99.60 at 11:44 IST on BSE, after the company said on Tuesday, 9 September 2008, its board has fixed 22 September 2008 as the record date for a liberal 1:1 bonus issue.
The company fixed the record date during trading hours today, 9 September 2008.
The stock hit a high of Rs 100.75 and a low of Rs 95 so far during the day. The stock has a 52-week high of Rs 229.30 on 10 December 2007 and a 52-week low of Rs 67.50 on 25 March 2008.
The company’s current equity is Rs 6.37. Face value per share is Rs 10.
The current price of Rs 99.60 discounts Q1 June 2008 annualized EPS of Rs 26.56, by a PE multiple of 3.75.
Kamanwala Housing Construction’s net profit rose 37.3% to Rs 4.23 crore on 92.7% increase in net sales to Rs 33.17 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in construction and sale of residential houses and commercial buildings.
The company fixed the record date during trading hours today, 9 September 2008.
The stock hit a high of Rs 100.75 and a low of Rs 95 so far during the day. The stock has a 52-week high of Rs 229.30 on 10 December 2007 and a 52-week low of Rs 67.50 on 25 March 2008.
The company’s current equity is Rs 6.37. Face value per share is Rs 10.
The current price of Rs 99.60 discounts Q1 June 2008 annualized EPS of Rs 26.56, by a PE multiple of 3.75.
Kamanwala Housing Construction’s net profit rose 37.3% to Rs 4.23 crore on 92.7% increase in net sales to Rs 33.17 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in construction and sale of residential houses and commercial buildings.
Blue Bird flies high on export order
Blue Bird India surged 5.42% to Rs 36.95 at 10:37 IST on BSE, after the company said on Monday, 8 September 2008, it has bagged an export order worth $4.40 million for supply of notebooks to USA.
The company made this announcement after trading hours on Monday, 8 September 2008.
The stock hit a high of Rs 37.90 and a low of Rs 35.80 so far during the day. The stock has a 52-week high of Rs 93.50 on 3 January 2008 and a 52-week low of Rs 26.55 on 2 July 2008.
The company’s current equity is Rs 35. Face value per share is Rs 10.
The current price of Rs 36.95 discounts Q1 June 2008 annualized EPS of Rs 5.71, by a PE multiple of 6.47.
The company expects to complete the order within the current financial year.
Blue Bird India’s net profit fell 39.8% to Rs 5 crore on 8.1% fall in net sales to Rs 118.89 crore in Q1 June 2008 over Q1 June 2007.
The company is into printing and publishing. The company operates in three segments namely notebooks, publication and printing.
The company made this announcement after trading hours on Monday, 8 September 2008.
The stock hit a high of Rs 37.90 and a low of Rs 35.80 so far during the day. The stock has a 52-week high of Rs 93.50 on 3 January 2008 and a 52-week low of Rs 26.55 on 2 July 2008.
The company’s current equity is Rs 35. Face value per share is Rs 10.
The current price of Rs 36.95 discounts Q1 June 2008 annualized EPS of Rs 5.71, by a PE multiple of 6.47.
The company expects to complete the order within the current financial year.
Blue Bird India’s net profit fell 39.8% to Rs 5 crore on 8.1% fall in net sales to Rs 118.89 crore in Q1 June 2008 over Q1 June 2007.
The company is into printing and publishing. The company operates in three segments namely notebooks, publication and printing.
Post- Market Commentary, Tuesday, September 09, 2008
Sensex ends a tad above 14,900; Sterlite Industries tanks
Key benchmark indices ended a choppy session lower weighed down by weak Asian markets. The BSE 30-share Sensex declined 44.21 points. Firm European markets triggered a sharp recovery in afternoon trade, lifting the Sensex to positive zone but the market once again slipped into the red on fresh selling at higher level. The market breadth was negative.
Sterlite Industries tumbled 8%. Tata Motors was under pressure throughout the day, sliding around 4%. On the positive side Bharti Airtel and Maruti Suzuki India added over 2% each. Telecom pivotals were in demand. Capital goods heavyweights saw divergent trend. Refinery and sugar stocks bucked weak market trend.
Key benchmark indices ended a choppy session lower weighed down by weak Asian markets. The BSE 30-share Sensex declined 44.21 points. Firm European markets triggered a sharp recovery in afternoon trade, lifting the Sensex to positive zone but the market once again slipped into the red on fresh selling at higher level. The market breadth was negative.
Sterlite Industries tumbled 8%. Tata Motors was under pressure throughout the day, sliding around 4%. On the positive side Bharti Airtel and Maruti Suzuki India added over 2% each. Telecom pivotals were in demand. Capital goods heavyweights saw divergent trend. Refinery and sugar stocks bucked weak market trend.
Monday, September 8, 2008
Bilpower on overseas order
Bilpower gained 5.71% to Rs 175 at 14:06 IST on BSE, after the company said it has secured an overseas contract worth $30 million from Ministry of Energy, Government of Ghana for rural electrification in Brong Ahafo and Ashanti region of Ghana.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 184.95 and a low of Rs 169 so far during the day. The stock has a 52-week high of Rs 374 on 2 January 2008 and a 52-week low of Rs 138.50 on 24 June 2008.
The company’s current equity is Rs 10.50. Face value per share is Rs 10.
The current price of Rs 28.80 discounts Q1 June 2008 annualized EPS of Rs 23.50, by a PE multiple of 11.52.
The company expects to complete the contract in 18 months.
Bilpower’s net profit rose 23.6% to Rs 6.17 crore on 73% increase in net sales to Rs 103.60 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing electrical steel products and other steel products related to transformer industry. The products of the group include electrical lamination, stamping, stator and motor.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 184.95 and a low of Rs 169 so far during the day. The stock has a 52-week high of Rs 374 on 2 January 2008 and a 52-week low of Rs 138.50 on 24 June 2008.
The company’s current equity is Rs 10.50. Face value per share is Rs 10.
The current price of Rs 28.80 discounts Q1 June 2008 annualized EPS of Rs 23.50, by a PE multiple of 11.52.
The company expects to complete the contract in 18 months.
Bilpower’s net profit rose 23.6% to Rs 6.17 crore on 73% increase in net sales to Rs 103.60 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing electrical steel products and other steel products related to transformer industry. The products of the group include electrical lamination, stamping, stator and motor.
Valiant Communications rings on buyback plan
Valiant Communications spurted 12.06% to Rs 28.80 at 12:58 IST on BSE, after the company said on Monday, 8 September 2008, its board has approved a proposal for buyback of equity shares.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 30.80 and a low of Rs 27 so far during the day. The stock has a 52-week high of Rs 65.80 on 10 January 2008 and a 52-week low of Rs 19 on 2 July 2008.
The company’s current equity is Rs 8.65. Face value per share is Rs 10.
The current price of Rs 28.80 discounts Q1 June 2008 annualized EPS of Rs 2.50, by a PE multiple of 11.52.
The company will buyback its own equity shares through open market at a price not exceeding Rs 32 a share. The total amount of buy back will not exceed Rs 3.14 crore.
Valiant Communications’ net profit rose 217.6% to Rs 0.54 crore on 19% fall in net sales to Rs 1.96 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing telecom transmission equipment and solutions.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 30.80 and a low of Rs 27 so far during the day. The stock has a 52-week high of Rs 65.80 on 10 January 2008 and a 52-week low of Rs 19 on 2 July 2008.
The company’s current equity is Rs 8.65. Face value per share is Rs 10.
The current price of Rs 28.80 discounts Q1 June 2008 annualized EPS of Rs 2.50, by a PE multiple of 11.52.
The company will buyback its own equity shares through open market at a price not exceeding Rs 32 a share. The total amount of buy back will not exceed Rs 3.14 crore.
Valiant Communications’ net profit rose 217.6% to Rs 0.54 crore on 19% fall in net sales to Rs 1.96 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing telecom transmission equipment and solutions.
Patels Airtemp received Large order
Patels Airtemp India soared 5.69% to Rs 61.25 at 12:24 IST on BSE, after the company said on Monday, 8 September 2008 it has received an order of worth Rs 16.09 crore for shell and tube heat exchangers for Essar Oil refinery project in Gujarat.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 62.10 and a low of Rs 58.40 so far during the day. The stock has a 52-week high of Rs 145.80 on 8 January 2008 and a 52-week low of Rs 41.05 on 6 September 2007.
The company’s current equity is Rs 5.07. Face value per share is Rs 10.
The current price of Rs 61.25 discounts Q1 June 2008 annualized EPS of Rs 10.49, by a PE multiple of 5.84.
Patels Airtemp India’s net profit surged 104.6% to Rs 1.33 crore on 58.3% growth in net sales to Rs 13.23 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing engineering products. Its products include heat exchanger.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 62.10 and a low of Rs 58.40 so far during the day. The stock has a 52-week high of Rs 145.80 on 8 January 2008 and a 52-week low of Rs 41.05 on 6 September 2007.
The company’s current equity is Rs 5.07. Face value per share is Rs 10.
The current price of Rs 61.25 discounts Q1 June 2008 annualized EPS of Rs 10.49, by a PE multiple of 5.84.
Patels Airtemp India’s net profit surged 104.6% to Rs 1.33 crore on 58.3% growth in net sales to Rs 13.23 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing engineering products. Its products include heat exchanger.
Aurobindo Pharma gets UA FDA nod for new drug
Aurobindo Pharma rose 0.95% to Rs 319.05 at 11:52 IST on BSE, after the company said it has secured tentative approval from US Food & Drug Administration to manufacture and market Abacavir Sulphate/Lamivudine tablets.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 327 and a low of Rs 317 so far during the day. The stock has a 52-week high of Rs 646 on 6 September 2007 and a 52-week low of Rs 233 on 22 January 2008.
The company’s current equity is Rs 26.88. Face value per share is Rs 5.
The current price of Rs 319.05 discounts Q1 June 2008 annualized EPS of Rs 29.67, by a PE multiple of 10.75.
Aurobindo Pharma combines 600-miligram (mg) strength of Abacavir Sulfate and 300 mg strength of Lamivudine into one tablet, whose branded product name is Epzicom.
The drug has been reviewed under the President’s Emergency Plan for AIDS Relief (PEPFAR).
On 11 August 2008, Aurobindo Pharma received final approval from US Food & Drug Administration (USFDA) for Cefazolin
On 5 August 2008, the company secured final approval from USFDA to manufacture and market Alendronate sodium tablets in multiple strengths.
Aurobindo Pharma’s net profit fell 31.9% to Rs 39.87 crore on 34.9% increase in net sales to Rs 647.23 crore in Q1 June 2008 over Q1 June 2007.
Aurobindo Pharma is engaged in developing, manufacturing and marketing active pharmaceutical ingredients, intermediates and generic formulations.
The company made this announcement during trading hours today, 8 September 2008.
The stock hit a high of Rs 327 and a low of Rs 317 so far during the day. The stock has a 52-week high of Rs 646 on 6 September 2007 and a 52-week low of Rs 233 on 22 January 2008.
The company’s current equity is Rs 26.88. Face value per share is Rs 5.
The current price of Rs 319.05 discounts Q1 June 2008 annualized EPS of Rs 29.67, by a PE multiple of 10.75.
Aurobindo Pharma combines 600-miligram (mg) strength of Abacavir Sulfate and 300 mg strength of Lamivudine into one tablet, whose branded product name is Epzicom.
The drug has been reviewed under the President’s Emergency Plan for AIDS Relief (PEPFAR).
On 11 August 2008, Aurobindo Pharma received final approval from US Food & Drug Administration (USFDA) for Cefazolin
On 5 August 2008, the company secured final approval from USFDA to manufacture and market Alendronate sodium tablets in multiple strengths.
Aurobindo Pharma’s net profit fell 31.9% to Rs 39.87 crore on 34.9% increase in net sales to Rs 647.23 crore in Q1 June 2008 over Q1 June 2007.
Aurobindo Pharma is engaged in developing, manufacturing and marketing active pharmaceutical ingredients, intermediates and generic formulations.
Pratibha Industries builds on new order win
Pratibha Industries surged 3.11% to Rs 278.60 at 11:25 IST on BSE, after the company said on Monday, 8 September 2008, it has secured a contract worth Rs 44.75 crore from Delhi Jal Board for water transmission program.
The company made this announcement before trading hours today, 8 September 2008.
The stock hit a high of Rs 285 and a low of Rs 273.20 so far during the day. The stock has a 52-week high of Rs 469.80 on 2 January 2008 and a 52-week low of Rs 180.10 on 18 July 2008.
The company’s current equity is Rs 16.69. Face value per share is Rs 10.
The current price of Rs 278.60 discounts Q1 June 2008 annualized EPS of Rs 27.83, by a PE multiple of 10.01.
The project is to be executed within 18 months.
In June 2008, Pratibha Industries bagged an order worth Rs 179.72 crore from Lanco Hills Technology Park for construction of a mall podium.
In April 2008, the company bagged an order worth Rs 37.03 crore from Sunshine Housing Development for construction of a commercial building Sunshine Towers at Dadar in Mumbai.
Pratibha Industries’ net profit surged 93.8% to Rs 11.61 crore on 169.7% rise in net sales to Rs 177.81 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in the business of infrastructure and manufacture of submerged arc welded pipes.
The company made this announcement before trading hours today, 8 September 2008.
The stock hit a high of Rs 285 and a low of Rs 273.20 so far during the day. The stock has a 52-week high of Rs 469.80 on 2 January 2008 and a 52-week low of Rs 180.10 on 18 July 2008.
The company’s current equity is Rs 16.69. Face value per share is Rs 10.
The current price of Rs 278.60 discounts Q1 June 2008 annualized EPS of Rs 27.83, by a PE multiple of 10.01.
The project is to be executed within 18 months.
In June 2008, Pratibha Industries bagged an order worth Rs 179.72 crore from Lanco Hills Technology Park for construction of a mall podium.
In April 2008, the company bagged an order worth Rs 37.03 crore from Sunshine Housing Development for construction of a commercial building Sunshine Towers at Dadar in Mumbai.
Pratibha Industries’ net profit surged 93.8% to Rs 11.61 crore on 169.7% rise in net sales to Rs 177.81 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in the business of infrastructure and manufacture of submerged arc welded pipes.
Cambridge Technology on US acquisition
Cambridge Technology Enterprises was locked at 10% upper limit at Rs 61.05 at 10:56 IST on BSE, after the company said on Monday, 8 September 2008, its board has approved the acquisition of US based Protege Software Services Inc.
The company made this announcement before trading hours today, 8 September 2008.
The stock hit a high of Rs 61.05 and a low of Rs 57 so far during the day. The stock has a 52-week high of Rs 100.90 on 2 January 2008 and a 52-week low of Rs 26.65 on 27 March 2008.
The company’s current equity is Rs 15.82. Face value per share is Rs 10.
The current price of Rs 61.05 discounts Q1 June 2008 annualized EPS of Rs 4.80, by a PE multiple of 12.72.
Protege Software Services Inc provides professional services and solutions for Oracle application products and technologies.
Cambridge Technology Enterprises’ net profit fell 53.32% to Rs 1.9 crore on 26.68% fall in net sales to Rs 8.82 crore in Q1 June 2008 over Q4 March 2008.
The company is into software development. The group provides technology solutions for commercial customers throughout the United States and India.
The company made this announcement before trading hours today, 8 September 2008.
The stock hit a high of Rs 61.05 and a low of Rs 57 so far during the day. The stock has a 52-week high of Rs 100.90 on 2 January 2008 and a 52-week low of Rs 26.65 on 27 March 2008.
The company’s current equity is Rs 15.82. Face value per share is Rs 10.
The current price of Rs 61.05 discounts Q1 June 2008 annualized EPS of Rs 4.80, by a PE multiple of 12.72.
Protege Software Services Inc provides professional services and solutions for Oracle application products and technologies.
Cambridge Technology Enterprises’ net profit fell 53.32% to Rs 1.9 crore on 26.68% fall in net sales to Rs 8.82 crore in Q1 June 2008 over Q4 March 2008.
The company is into software development. The group provides technology solutions for commercial customers throughout the United States and India.
Amara Raja Batteries fixed 15 October 2008 as the record date for 1:2 bonus issue.
Amara Raja Batteries gained 1.68% to Rs 130 at 10:34 IST on BSE, after the company said on Friday, 5 September 2008, its board has fixed 15 October 2008 as the record date for 1:2 bonus issue.
The company fixed the record date after trading hours on Friday, 5 September 2008.
The stock hit a high of Rs 137 and a low of Rs 129.30 so far during the day. The stock has a 52-week high of Rs 274.90 on 5 February 2008 and a 52-week low of Rs 106.05 on 22 July 2008.
The company’s current equity is Rs 11.39. Face value per share is Rs 2.
The current price of Rs 130 discounts Q1 June 2008 annualized EPS of Rs 10.48, by a
PE multiple of 12.40.
Amara Raja Batteries’ net profit fell 16.7% to Rs 14.92 crore on 46.6% increase in net sales to Rs 314.50 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures and markets lead acid storage batteries.
The company fixed the record date after trading hours on Friday, 5 September 2008.
The stock hit a high of Rs 137 and a low of Rs 129.30 so far during the day. The stock has a 52-week high of Rs 274.90 on 5 February 2008 and a 52-week low of Rs 106.05 on 22 July 2008.
The company’s current equity is Rs 11.39. Face value per share is Rs 2.
The current price of Rs 130 discounts Q1 June 2008 annualized EPS of Rs 10.48, by a
PE multiple of 12.40.
Amara Raja Batteries’ net profit fell 16.7% to Rs 14.92 crore on 46.6% increase in net sales to Rs 314.50 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures and markets lead acid storage batteries.
Hotel Leela Venture on expansion buzz
Hotel Leela Venture rose 2.37% to Rs 34.55 at 10:18 IST on BSE on reports the firm plans adding seven new luxury hotels in the next three to five years.
The stock hit a high of Rs 36.25 and a low of Rs 34.50 so far during the day. The stock had a 52-week high of Rs 76.85 on 4 January 2008 and a 52-week low of Rs 28.90 on 16 July 2008.
The mid-cap hotel chain operator has an equity capital of Rs 75.56 crore. Face value per share is Rs 2.
The current price of Rs 34.55 discounts its Q1 June 2008 annualised EPS of Rs 3.54, by a PE multiple of 9.75.
According to reports, the firm plans to set up seven new luxury hotels at Udaipur, Jaipur, Delhi, Hyderabad, Agra, Pune and Chennai over the next three to five years. The company will invest Rs 2,000-crore to add 2,000 rooms at these new hotels.
Further, the company is also planning to set up a 300 room hotel in Mumbai. The land for the same has been leased from the Airport Authority of India and work would start soon. Leela's floating casino at Goa has also become operational, the reports added.
The net profit of Hotel Leela Venture rose 10.8% to Rs 33.43 crore on a 23.8% rise in sales to Rs 23.8 crore in Q1 June 2008 over Q1 June 2007.
Hotel Leela Venture owns, operates and manages hotels, palaces and resorts.
The stock hit a high of Rs 36.25 and a low of Rs 34.50 so far during the day. The stock had a 52-week high of Rs 76.85 on 4 January 2008 and a 52-week low of Rs 28.90 on 16 July 2008.
The mid-cap hotel chain operator has an equity capital of Rs 75.56 crore. Face value per share is Rs 2.
The current price of Rs 34.55 discounts its Q1 June 2008 annualised EPS of Rs 3.54, by a PE multiple of 9.75.
According to reports, the firm plans to set up seven new luxury hotels at Udaipur, Jaipur, Delhi, Hyderabad, Agra, Pune and Chennai over the next three to five years. The company will invest Rs 2,000-crore to add 2,000 rooms at these new hotels.
Further, the company is also planning to set up a 300 room hotel in Mumbai. The land for the same has been leased from the Airport Authority of India and work would start soon. Leela's floating casino at Goa has also become operational, the reports added.
The net profit of Hotel Leela Venture rose 10.8% to Rs 33.43 crore on a 23.8% rise in sales to Rs 23.8 crore in Q1 June 2008 over Q1 June 2007.
Hotel Leela Venture owns, operates and manages hotels, palaces and resorts.
Sensex up 445 points
Market ended higher but off day's highs as investors booked profits. Banks, capital goods and power stocks were the top performers.
Bombay Stock Exchange’s Sensex ended at 14,928.53, up 444.70 points or 3.07 per cent. It touched a high of 15,107.01 and low of 14,917.06.
National Stock Exchange’s Nifty was up 126.05 points or 2.90 per cent at 4,478.35. The broader index touched a high of 4,558 and low of 4,358.30.
BSE Midcap Index closed 1.15 per cent higher at 5819.74 and BSE Smallcap Index advanced 1.05 per cent to 6,977.58.
Sterlite Industries (6.16%), State Bank of India (4.90%), ICICI Bank (4.84%), NTPC (4.64%), and Larsen & Toubro (4.54%) were the major Sensex gainers.
There were no losers on the Sensex.
Market breadth was positive with 1657 advances and 1038 declines.
(All figures are provisional)
Bombay Stock Exchange’s Sensex ended at 14,928.53, up 444.70 points or 3.07 per cent. It touched a high of 15,107.01 and low of 14,917.06.
National Stock Exchange’s Nifty was up 126.05 points or 2.90 per cent at 4,478.35. The broader index touched a high of 4,558 and low of 4,358.30.
BSE Midcap Index closed 1.15 per cent higher at 5819.74 and BSE Smallcap Index advanced 1.05 per cent to 6,977.58.
Sterlite Industries (6.16%), State Bank of India (4.90%), ICICI Bank (4.84%), NTPC (4.64%), and Larsen & Toubro (4.54%) were the major Sensex gainers.
There were no losers on the Sensex.
Market breadth was positive with 1657 advances and 1038 declines.
(All figures are provisional)
Sunday, September 7, 2008
Market sees a positive nuke explosion on Street
Equities appear poised for a surge on Monday after the Nuclear Supplier Group (NSG) on Saturday reached a consensus on the Indo-US nuke deal agreeing on a clean waiver for
Dealers expect the Sensex to surge by as much as 500 points, fuelled partly by short-covering of positions. The next key trigger would be the outcome of the Organisation of Petroleum Exporting Countries (OPEC) meeting in
Although inflation appears to be coming under control, analysts say the volatile macro-economic picture will prevent investors from braving the market. “A gloomy global scenario, tight monetary policy, lower economic growth, impending elections and high fiscal deficit — all these are negative for the performance of the Indian market,” said an Indian Equity Strategy report by Lehman Brothers.
“We believe that inflation has peaked and the Indian market at current valuations is more leveraged to interest-rate falls and less to a growth slowdown,” the Lehman report added.
After the steep fall on Friday, benchmark indices are now at two-week lows. Adding to the macro-economic worries, the rupee weakened further against the dollar on Friday, touching its 20-month low. While the positive outcome of the nuclear deal is a big victory for
Broking firms are advising their clients to take a cautious view in the short term. “We would buy the market aggressively around 12500-13000 levels. In the short term, we would suggest running widely diversified portfolios and raising the weights of interest-rate sensitives, especially banks, at more appropriate valuations,” the Lehman note said.
Meanwhile, in spite of the general sentiment on inflation, government policies continue to hint otherwise. The commodity market regulator on Friday extended a four-month ban on futures trading in soybean oil, rubber, potatoes and chickpeas to cool inflation.
The halt to futures trading in the four commodities has been extended to November 30. However, there is a dissent among market participants on this issue as they feel that there are no conclusive evidences that suggest that futures trading fuels price increases.
While macro-economic conditions, opine dealers, would have the last say in the way Indian equities play out in the near term, a delay in the withdrawal of the monsoon may offer some respite to the beleaguered sentiment. A lazy monsoon is expected to benefit crops in the current kharif as well as in the ensuing rabi season.
Now, China wants N-deal for Pakistan?
7 Sep, 2008, 1850 hrs IST, Times Now
NEW DELHI: The Chinese government on Saturday not only nearly toppled India's Nuclear Suppliers Group (NSG) bid in Vienna, but went a step further by advocating a similar nuclear deal for Pakistan.
China made the case for Pakistan in a veiled statement, saying it hoped the NSG would 'equally address the aspirations of all parties.' A number of analysts have taken the phrase 'of all parties' to mean a reference to its ally Pakistan.
Chinese Foreign Minister, Cheng Jingye, head of Chinese delegation scheduled to visit on Sunday said, "It is also China's hope that the NSG would equally address the aspirations of all parties for the peaceful use of nuclear power while adhering to the nuclear non-proliferation mechanism."
via: Economic Times
NEW DELHI: The Chinese government on Saturday not only nearly toppled India's Nuclear Suppliers Group (NSG) bid in Vienna, but went a step further by advocating a similar nuclear deal for Pakistan.
China made the case for Pakistan in a veiled statement, saying it hoped the NSG would 'equally address the aspirations of all parties.' A number of analysts have taken the phrase 'of all parties' to mean a reference to its ally Pakistan.
Chinese Foreign Minister, Cheng Jingye, head of Chinese delegation scheduled to visit on Sunday said, "It is also China's hope that the NSG would equally address the aspirations of all parties for the peaceful use of nuclear power while adhering to the nuclear non-proliferation mechanism."
via: Economic Times
Gold may shed Rs 600 on weakening global trend
Gold may shed Rs 600 on weakening global trend: Analysts
7 Sep, 2008, 1200 hrs IST, PTI
NEW DELHI: Gold prices will continue to show weakening trend this week and is likely to further shed up to Rs 600 in the futures market on the back of lower crude oil prices and strengthening US dollar, say analysts.
The prices of the precious metal would hover in the range of Rs 12,000-11,100 per 10 gram, Karvy Comtrade's analyst Bhavna Glory said.
"Gold is likely to shed Rs 500-600 per 10 gram this week," she pointed out.
According to analysts, if the precious metal breaches the projected lower limit of Rs 11,100, the prices could go down up to Rs 10,700 level per 10 gram.
Meanwhile, in the international market, the spot prices of the precious metal are likely to trade between 820-770 dollar an ounce.
Further, experts feel that if gold tumbles below the lower level of 770 dollar per ounce, then the metal could be as cheap as $750.
Another dampener for the precious metal could be the Industrial Production figures from the Eurozone, expected to be released this week.
"This week, the Industrial Production Index figures from Europe is expected to be negative, which would have a negative impact for both the Euro and the bullion," Bhavna Glory pointed out.
Moreover, the Advance Retail Sales data from the US, which has been on the decline and figures of US Trade Deficit, could bring down the gold prices further.
Noting that gold would be on the downward trajectory in the coming days, Religare Commodities metals and Energy Research In-charge Somnath Dey said, "the only good thing for gold is the festive season in India, but it amounts to only five per cent."
SMC Global Vice-President Rajesh Jain said gold is likely to trade in the range of 780-820 dollar an ounce.
"Gold is slightly oversold and this week it is likely to consolidate its position," he added.
In the previous week also gold was bearish and had hit a low of 790 dollar on account of strengthening greenback against the Euro. US dollar had touched 1.4214 level against Euro, an 11-month high and a negative factor for gold price.
However, on Friday, Bureau of Labor and Statistics report showed an increase of 1.4 per cent in the US unemployment rate to 6.1 per cent which in turn helped to limit the downward movement of gold.
7 Sep, 2008, 1200 hrs IST, PTI
NEW DELHI: Gold prices will continue to show weakening trend this week and is likely to further shed up to Rs 600 in the futures market on the back of lower crude oil prices and strengthening US dollar, say analysts.
The prices of the precious metal would hover in the range of Rs 12,000-11,100 per 10 gram, Karvy Comtrade's analyst Bhavna Glory said.
"Gold is likely to shed Rs 500-600 per 10 gram this week," she pointed out.
According to analysts, if the precious metal breaches the projected lower limit of Rs 11,100, the prices could go down up to Rs 10,700 level per 10 gram.
Meanwhile, in the international market, the spot prices of the precious metal are likely to trade between 820-770 dollar an ounce.
Further, experts feel that if gold tumbles below the lower level of 770 dollar per ounce, then the metal could be as cheap as $750.
Another dampener for the precious metal could be the Industrial Production figures from the Eurozone, expected to be released this week.
"This week, the Industrial Production Index figures from Europe is expected to be negative, which would have a negative impact for both the Euro and the bullion," Bhavna Glory pointed out.
Moreover, the Advance Retail Sales data from the US, which has been on the decline and figures of US Trade Deficit, could bring down the gold prices further.
Noting that gold would be on the downward trajectory in the coming days, Religare Commodities metals and Energy Research In-charge Somnath Dey said, "the only good thing for gold is the festive season in India, but it amounts to only five per cent."
SMC Global Vice-President Rajesh Jain said gold is likely to trade in the range of 780-820 dollar an ounce.
"Gold is slightly oversold and this week it is likely to consolidate its position," he added.
In the previous week also gold was bearish and had hit a low of 790 dollar on account of strengthening greenback against the Euro. US dollar had touched 1.4214 level against Euro, an 11-month high and a negative factor for gold price.
However, on Friday, Bureau of Labor and Statistics report showed an increase of 1.4 per cent in the US unemployment rate to 6.1 per cent which in turn helped to limit the downward movement of gold.
Bilcare ties-up Wal-Mart
Bilcare rose 1.99% to Rs 749.95 at 13:49 IST on BSE, on reports the company has tied-up with United States’ largest medicine retail chain Wal-Mart to provide innovative packaging solutions for medicines distributed under its $4 Prescription Program.
The stock hit a high of Rs 762 and a low of Rs 730 so far during the day. The stock has a 52-week high of Rs 1830 on 1 January 2008 and a 52-week low of Rs 611.05 on 18 July 2008.
The company’s current equity is Rs 17.21. Face value per share is Rs 10.
The current price of Rs 749.95 discounts Q1 June 2008 annualized EPS of Rs 37.40, by a PE multiple of 20.05.
Bilcare’s net profit rose 18.8% to Rs 16.09 crore on 22.5% increase in net sales to Rs 113.76 crore in Q1 June 2008 over Q1 June 2007.
The company provides state-of-the-art and comprehensive packaging solutions to the pharmaceutical and healthcare sector. The group provides its products and services to the pharma sector through five focused business activities, namely clinical services, research services, design lab, research academy and packaging materials.
The stock hit a high of Rs 762 and a low of Rs 730 so far during the day. The stock has a 52-week high of Rs 1830 on 1 January 2008 and a 52-week low of Rs 611.05 on 18 July 2008.
The company’s current equity is Rs 17.21. Face value per share is Rs 10.
The current price of Rs 749.95 discounts Q1 June 2008 annualized EPS of Rs 37.40, by a PE multiple of 20.05.
Bilcare’s net profit rose 18.8% to Rs 16.09 crore on 22.5% increase in net sales to Rs 113.76 crore in Q1 June 2008 over Q1 June 2007.
The company provides state-of-the-art and comprehensive packaging solutions to the pharmaceutical and healthcare sector. The group provides its products and services to the pharma sector through five focused business activities, namely clinical services, research services, design lab, research academy and packaging materials.
Tata Power recovers on overseas initiative
Tata Power Company was down 0.78% to Rs 1079.50 at 11:00 IST on BSE, having recovered from the sessions’ low of Rs 1055, after the company said on Thursday, 4 September 2008, it has acquired 11.4% stake in Australia’s Geodynamics for Rs 165 crore.
The company made this announcement during trading hours on Thursday, 4 September 2008, when the stock gained 1.70% to Rs 1088.
The stock hit a high of Rs 1081.90 and a low of Rs 1055 so far during the day. The stock has a 52-week high of Rs 1641 on 4 January 2008 and a 52-week low of Rs 709 on 5 September 2007.
The company’s current equity is Rs 221.38. Face value per share is Rs 10.
The current price of Rs 1079.50 discounts Q1 June 2008 annualized EPS of Rs 7.25, by a PE multiple of 6.90.
Geodynamics is specialised in geothermal energy and enhanced geothermal systems (EGS) with a market capitalization of A$350 million. The transaction, which will see Tata Power buy 29.4 million equity shares for A$1.50 a share, will bolster the Mumbai-based power company’s presence in renewable energy space.
In a statement to the Australian stock exchange on Thursday, 4 September 2008, Geodynamics said the purchase includes an unquoted placement option exercisable at A$2.25 per share for every two shares issued — 14.7 million options — expiring on 28 February 2009.
Tata Power Company’s net profit rose 0.2% to Rs 190.55 crore on 34% increase in net sales to Rs 2026.13 crore in Q1 June 2008 over Q1 June 2007.
Tata Power is engaged in generation, transmission and distribution of electricity.
The company made this announcement during trading hours on Thursday, 4 September 2008, when the stock gained 1.70% to Rs 1088.
The stock hit a high of Rs 1081.90 and a low of Rs 1055 so far during the day. The stock has a 52-week high of Rs 1641 on 4 January 2008 and a 52-week low of Rs 709 on 5 September 2007.
The company’s current equity is Rs 221.38. Face value per share is Rs 10.
The current price of Rs 1079.50 discounts Q1 June 2008 annualized EPS of Rs 7.25, by a PE multiple of 6.90.
Geodynamics is specialised in geothermal energy and enhanced geothermal systems (EGS) with a market capitalization of A$350 million. The transaction, which will see Tata Power buy 29.4 million equity shares for A$1.50 a share, will bolster the Mumbai-based power company’s presence in renewable energy space.
In a statement to the Australian stock exchange on Thursday, 4 September 2008, Geodynamics said the purchase includes an unquoted placement option exercisable at A$2.25 per share for every two shares issued — 14.7 million options — expiring on 28 February 2009.
Tata Power Company’s net profit rose 0.2% to Rs 190.55 crore on 34% increase in net sales to Rs 2026.13 crore in Q1 June 2008 over Q1 June 2007.
Tata Power is engaged in generation, transmission and distribution of electricity.
IFGL Refractories modern facility for manufacturing bio ceramics
IFGL Refractories declined 0.20% to Rs 50 at 10:39 IST on BSE, after the company said on Friday, 5 September 2008, it has set up a modern facility for manufacturing bio ceramics, in which orbital implants are also manufactured.
The company made this announcement during trading hours today,
The stock hit a high of Rs 51 and a low of Rs 49 so far during the day. The stock has a 52-week high of Rs 104.05 on
The company’s current equity is Rs 34.61. Face value per share is Rs 10.
The current price of Rs 50 discounts Q1 June 2008 annualized EPS of Rs 7.25, by a PE multiple of 6.90.
In June 2008, IFGL Refractories acquired 96.16% of shares in German firm Hofmann Ceramic GmbH for an undisclosed sum. Hofmann entities are engaged in manufacturing ceramic filters and other refractories for the foundry industry. The combined turnover of Hofmann entities was 13.67 million euros in the year ended December 2007.
IFGL Refractories’ net profit rose 140.2% to Rs 6.27 crore on 23.3% increase in net sales to Rs 48.42 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing specialised refractories. The group operates in
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