Future Capital Holdings in demand

Future Capital Holdings gained 4.60% to Rs 572 at 12:52 IST on BSE after the company said its board has approved to invest upto Rs 47.75 crore in its subsidiary Future Finmart.

The company made this announcement after trading hours on Monday, 24 March 2008.

The stock hit a high of Rs 578.90 and a low of Rs 550.20 so far during the day. The stock had a 52-week high of Rs 1190 on 7 February 2008 and a 52-week low of Rs 435.55 on 17 March 2008.

The company’s current equity is Rs 63.23 crore. Face value per share is Rs 10.

The current price of Rs 572 discounts its year ended March 2007 EPS of Rs 0.60, by a PE multiple of 953.33.

Future Capital Holdings reported net profit of Rs 3.49 crore on total income of Rs 38.99 crore in the year ended 31 March 2007.

The investment in Future Finmart would be utilized towards enabling its business requirements in the area of retail financial services, the company said in a statement.

Future Capital Holdings is the financial services arm of the Future Group. It is currently in three primary businesses: investment advisory services, retail financial services, and research.

"Welspun Gujarat Stahl Rohren" wins Large order

Welspun Gujarat Stahl Rohren jumped 7.03% to Rs 315 at 11:59 IST on BSE after the company said it has bagged pipeline orders worth Rs 1,075 crore for the supply of spiral pipes to Northern Africa.

The company made this announcement during trading hours on Monday, 24 March 2008, when the stock declined 7.71% to Rs 294.30.

The stock hit a high of Rs 318.50 and a low of Rs 300.10 so far during the day. The stock had a 52-week high of Rs 537.70 on 17 January 2008 and a 52-week low of Rs 97.80 on 2 April 2007.

The company’s current equity is Rs 85.86 crore. Face value per share is Rs 5.

The current price of Rs 315 discounts its Q3 December 2007 annualized EPS of Rs 22.73, by a PE multiple of 13.86.

With this order, Welspun Gujarat Stahl Rohren’s order book position stands above Rs 5900 crore.

Welspun Gujarat Stahl Rohren’s net profit rose 136.4% to Rs 97.40 crore on 39.1% growth in net sales to Rs 1036.40 in Q3 December 2007 Q3 December 2006.

Welspun Gujarat Stahl Rohren’s business includes production and coating of high-grade submerged arc-welded pipes and electric resistance welded pipes.

Four Soft hardens on new order win

Four Soft gained 1.09% to Rs 23.15 at 11:39 IST on BSE after the company said IAL group, a leading shipping and logistics organization, has selected its product 4S eTrans to support its multi-modal freight forwarding operations in India.

The company made this announcement during trading hours today, 25 March 2008.

The stock hit a high of Rs 23.75 and a low of Rs 22.25 so far during the day, which is a 52-week low. The stock had a 52-week high of Rs 70.40 on 23 April 2007.

The company’s current equity is Rs 19.48 crore. Face value per share is Rs 5.

Four Soft reported a net loss of Rs 0.37 crore in Q3 December 2007 as compared to net loss of Rs 0.13 crore in Q2 September 2007. Net sales declined 11.11% to Rs 8.72 crore in Q3 December 2007 over Q2 September 2007.

IAL is one of the largest shipping & logistics companies in the sub-continent and has a strong presence in Asia with its own office network. IAL group will utilize 4S eTrans for better visibility, real time information on the shipments, better reports and most importantly better billing cycle.

Four Soft is an enterprise solutions company that develops innovative software products, and provides information technology (IT) consultancy services for the logistics and supply chain management.

Gokaldas Exports up on order buzz

Gokaldas Exports advanced 5.73% to Rs 179.90 at 11:16 IST on BSE on reports the company has secured an order to supply 2.50 lakh units of sportswear like jumpers, track-suits & vests for the thousands of athletes participating in Beijing Olympics.

The stock hit a high of Rs 202 and a low of Rs 175 so far during the day. The stock had a 52-week high of Rs 299 on 23 January 2008 and a 52-week low of Rs 160.10 on 24 March 2008.

The company’s current equity is Rs 17.19 crore. Face value per share is Rs 5.

The current price of Rs 179.90 discounts its Q3 December 2007 annualized EPS of Rs 20, by a PE multiple of 9.

Gokaldas Exports’ net profit declined 3.6% to Rs 17.19 crore on 10.1% growth in net sales to Rs 281.13 crore in Q3 December 2007 over Q3 December 2006.

Gokaldas Exports is engaged in designing, manufacturing and selling range of garments for men, women and children and caters to the needs of several international fashion brands and retailers. The company’s products include coats, suits, jackets, parkas, windcheaters, ski wear; warm-ups, surf wear, swim wear; trousers, shorts; casual wear shirts, ladies blouses and dresses for customers in international market.

Jyoti Structures wins Overseas order

Jyoti Structures soared 5.87% to Rs 165.10 at 10:50 IST on BSE after the company said it has bagged an order worth $39.64 million from Uganda Electricity Transmission Company for construction of transmission line and sub-stations in Uganda..

The company made this announcement during trading hours today, 25 March 2008.

The stock hit a high of Rs 170 and a low of Rs 157.10 so far during the day. The stock had a 52-week high of Rs 328 on 8 January 2008 and a 52-week low of Rs 143.35 on 24 March 2008.

The company’s current equity is Rs 16.23 crore. Face value per share is Rs 2.

The current price of Rs 165.10 discounts its Q3 December 2007 annualized EPS of Rs 9.93, by a PE multiple of 16.63.

Jyoti Structures’ net profit rose 15.8% to Rs 20.15 crore on 41.3% growth in net sales to Rs 345.53 crore in Q3 December 2007 over Q3 December 2006.

The project comprises of 220 kilovolt (KV) and 132 KV transmission lines and substations. The project is to be executed within a period of 24 months.

In November 2007, Jyoti Structures’ South African joint venture secured a contract worth about $75 million.

Jyoti Structures undertakes design, survey, manufacturing and supply of transmission line towers, foundation, erection of towers, supply of bought out items such as conductors, insulators and hardware accessories, stringing of conductors, testing and commissioning of transmission lines.

Prithvi Information Solutions spurts on buyback plan

Prithvi Information Solutions surged 7.25% to Rs 151.05 at 10:35 IST on BSE after it scheduled a meeting of the board of directors on 31 March 2008 to consider the buyback of equity shares.

The scrip had touched a high of Rs 160 and a low of Rs 148.20 so far during the day. The stock had hit a 52-week high of Rs 357.50 on 3 July 2007 and a 52-week low of Rs 115.55 on 18 March 2008.

The small-cap software firm has an equity capital of Rs 18.08 crore. Face value per share is Rs 10.

At the current price of Rs 151.05, the scrip trades at a PE multiple of 2.40, based on Q3 December 2007 annualised EPS of Rs 62.83.

Prithvi Information Solutions’ net profit rose 5.38% to Rs 28.40 crore on 10.47% increase in sales to Rs 291.73 crore in Q3 December 2007 over Q2 September 2007.

On 4 February 2008, Prithvi Information Solutions received an order worth Rs 309 crore for supply of transmission equipment to state-run Bharat Sanchar Nigam.

Prithvi Information Solutions is a global provider of customised IT solutions and software services to the clients. It operates through four strategic business units -- application development, network solutions, intelligence solutions, process outsourcing with presence in the US, Europe, Dubai, India and Singapore.

Reliance Energy Buyback

Reliance Energy surged 4.97% to Rs 1208.15 at 10:22 IST on BSE after the company said it will seek shareholders' nod for buyback offer of the company worth Rs 2,000 crore.

The stock had a 52-week high of Rs 2631.70 on 10 January 2008 and a 52-week low of Rs 465 on 28 March 2007.

The company’s current equity is Rs 236.53 crore. Face value per share is Rs 10. The current price of Rs 1208.15 discounts its Q3 December 2007 annualized EPS of Rs 51, by a PE multiple of 23.69.

Reliance Energy’s net profit rose 50% to Rs 301.60 crore on 1.5% fall in net sales to Rs 1505.49 crore in Q3 December 2007 over Q3 December 2006.

The buyback would be made at a maximum price of Rs 1600 a share.

Reliance Energy is engaged in generating, transmitting and distributing electricity. It also provides electrical contracting, engineering, procurement and construction contracts and computer services.

ICICI Bank capitalises on rally in ADR

ICICI Bank surged 4.78% to Rs 843 at 10:07 IST on BSE after its ADR surged 13.10% to $40.66 yesterday, 24 March 2008, on the New York Stock Exchange.

Each ICICI Bank American Depositary Receipt (ADR) represents two underlying equity shares.

The stock had hit a 52-week high of Rs 1465 on 14 January 2008 and a 52-week low of Rs 720 on 18 March 2008.

India’s largest private sector bank by assets has an equity capital of Rs 1112.64 crore. Face value per share is Rs 10. Total foreign holding in the bank is 70.37% (as at end December 2007).

At the current price of Rs 843, the scrip trades at a PE multiple of 19.05, based on Q3 December 2007 annualised EPS of Rs 44.24.

The net profit of ICICI Bank rose 35.2% to Rs 1230.21 crore on 36.4% rise in operating income to Rs 10338.36 crore in Q3 December 2007 over Q3 December 2006.

ICICI bank’s principal activity is to provide retail-banking, corporate banking, cash management and treasury management services.

Arvind Mills spurts after new tie-up

Arvind Mills surged 5.58% to Rs 36.90 at 9:55 IST on BSE after the company said Arvind Brands a division of the company has signed an agreement with Philips-Van Heusen Corporation for designing, distribution & retailing of IZOD brand in India.

The company made this announcement after trading hours on Monday, 24 March 2008.

The stock had a 52-week high of Rs 93.50 on 31 December 2007 and a 52-week low of Rs 34.25 on 24 March 2008.

The company’s current equity is Rs 209.38 crore. Face value per share is Rs 10.

The current price of Rs 36.90 discounts its Q3 December 2007 annualized EPS of Rs 1.08, by a PE multiple of 34.17.

Arvind Mills’ net profit declined 94.6% to Rs 5.67 crore on 19.9% growth in net sales to Rs 536.84 crore in Q3 December 2007 over Q3 December 2006.

As per the licensing agreement, Arvind Brands, the second largest branded apparel maker in the country, will have the exclusive rights to design, distribute and retail IZOD in India. The agreement covers a wide range of categories including sportshirts, T-shirts, casual trousers, shorts, swimwear, active wear & accessories. The partnership will also focus on creating IZOD flagship stores in India.

Arvind Mills is one of the leading textile manufacturers in the country. It owns various brands like Flying Machine, Newport and Ruf & Tuf jeans and Excalibur shirts. The company services the entire domestic market besides exporting to neighboring countries.

Post Market Commentary - March 25 2008

Sensex vaults 928 points in second biggest single-day rally

Intense buying in frontline stocks saw the Sensex breach 16,000 mark today. Buoyancy was visible across the global markets. The rally was triggered by JP Morgan raising Bear Stearns acquisition price by 5 times and US economic data that showed US new home sales had risen 3% in February 2008.

In the domestic front, all the sectoral indices on BSE ended higher. Banking, IT and realty stocks posted impressive gains. Mid-cap and small-cap stocks surged. The market breadth was strong.

BSE Sensex rose 928.09 points or 6.07% to 16,217.49, its second biggest single-day rally in points as well as percentage terms.

CNX S&P Nifty jumped 267.65 points or 5.81% at 4877.50.

As per provisional data, foreign funds bought shares worth a net Rs 1246.12 crore today, 25 March 2008. Mutual funds bought shares worth a net Rs 399.97 crore.

India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 5.16% to Rs 2314.40. The firm is reportedly evaluating a plan to set up its third refinery at Jamnagar in an ambitious project to reach a total capacity of 100 million metric tonne per annum (mmtpa), the largest at a single location in the world.

Chemicals maker GHCL surged 16.28% to Rs 86.80 after the company said it plans to spin off its home textiles and retail businesses into separate units as part of a restructuring plan.

Software firm Prithvi Information Solutions surged 9.69% to Rs 154.50 after the software services firm said its board will consider a share buyback proposal on 31 March 2008.

Steel pipes maker Welspun Gujarat Stahl Rohren jumped 12.93% to Rs 332.35 after the company said it has bagged pipeline orders worth Rs 1,075 crore for the supply of spiral pipes to Northern Africa.

Apparels maker Gokaldas Exports advanced 8.73% to Rs 185 on reports the company has secured an order to supply 2.50 lakh units of sportswear like jumpers, track-suits & vests for the thousands of athletes participating in Beijing Olympics.

Apparels firm Arvind Mills jumped 5.44% to Rs 36.85 after the company said Arvind Brands a division of the company has signed an agreement with Philips-Van Heusen Corporation for designing, distribution & retailing of IZOD brand in India.

Future Capital Holdings, the financial services arm of the Future Group, jumped 7.74% to Rs 589.20 after the company said its board has approved to invest upto Rs 47.75 crore in its subsidiary Future Finmart.

Cement maker Prism Cement soared 9.77% to Rs 42.15 after 14 lakh shares, or 0.47% of the company's equity, changed hands in a block deal on NSE at Rs 39.55 each.

Power equipment maker Jyoti Structures spurted 4.07% to Rs 162.30 after its secured an order worth Rs 160 crore for construction of transmission line and sub-stations in Uganda.

NEXT ONE MAY BE "Monsoon Capital LLC"

The market sentiment remained edgy on reports Monsoon Capital LLC, a $1.20 billion hedge fund firm run by Gautam Prakash, has been hit hard by a slump in Indian stocks this year. The news may trigger more redemptions from hedge funds with higher exposure to India, reports suggest.

BE PREPARED FOR ANY BIG WORST NEWS IN THE MARKET

HEARD ON THE STREET:

BEAR STERNS CLOSED,

ORCHID CHEMICALS PROMOTOR PLAYED IN STOCK MARKETS,

NEXT HEARING THE BIG BIG BROKING HOUSES INVOLVEMENT IN FALLING MARKET.

INDIAN MUTUAL FUNDS ARE SELLING FOR REDEPTIONS.

INFLATION TOUCHED NEARLY 6%


BE PREPARED FOR THE FURTHER WORST

Kotak, Indiainfoline, Motilal, Religare, ILFS, ICICI and who else are the

Who else lent huge monies in F&O and for

deliveries to their super-leveraged clients? Who else were earning oodles last

year from broking incomes?

Be sure all these brokers, and that last-mentioned who's really a bank, face the

brunt of the bad-bad-bad mood of stock players. Each of these shares will

continue getting beaten this year.

in line???? BEAR STERNS, ORCHID CHEMICALS, NEXTTTTTTTT??????????

Sunday's Business Line: MFs selling to pay up for redemptions.

Mutual Funds selling stocks? Aren't they the ones who put thier hand on their

mothers' hearts and say they love buying low and selling high? Why're they

selling at these dirct cheap rates then?

Answer: Fund manager's job is at stake. Bonus is at stake.

Orchid Chemicals- Worst Management Quality.Margin Funding Is Used To

The stock of Orchid Chemicals, a generic player with niche in antibiotics, has lost over 45 per cent in the last two days. The stock’s decline has to be seen in the light of ailing US investment bank Bears Stearns selling a large chunk of its shares.

This was followed by Orchid’s promoters having to offload a 7 per cent stake in the company, to meet margin calls, after earlier ramping up their stake through the margin funded route.

Significant premium

Though reports of forex-related losses dogged the stock on Monday, this remains in the realms of speculation in the absence of any clarification by the company to the stock exchanges.

In addition, Orchid has foreign currency convertible bonds (FCCBs) amounting to $193 million, raised last year, which are still to be converted into Equity.

With the stipulated conversion price for these FCCBs now at a significant premium to the current stock price, the prospect of the holders exercising the conversion option has reduced.

This may leave Orchid with a significant loan obligation to be serviced in 2012.

However, unlike other stocks whose correction can be attributed to lofty valuations, Orchid trades at a modest valuation at the current market price of Rs 113.50 (BSE).

Likely earnings

This stock price discounts the company’s expected earnings for 2008-09 by about four times. This has to weighed against likely earnings from over 12 product launches over the next two years and the company’s proven track record of garnering shares in regulated markets. As also either Equity dilution on conversion of FCCBs or the redemption of Rs 1000 crore in Debt.

For the last nine months, Orchid’s profit before exceptional items has risen by 94 per cent to Rs 134 crore over the same period last year.

by: "Maverick" Tue Mar 18, 2008 8:24 pm (PDT)

Subprime crisis to persist for 2-3 years

21 Mar, 2008, 2001 hrs IST, IANS

BEIJING: The impact of the subprime crisis is likely to persist for two to three year before the US economy recovers, Nobel laureate US economist Joseph E Stiglitz said here on Friday.

"The Federal Reserve and Bush administration did too little, too late, and did not do the right things to redress the problem," Stiglitz told an audience at Renmin University.

The former World Bank chief economist said he believed that former Fed chairman Alan Greenspan "encouraged or contributed" to the problem by conducting an interest rate policy that had encouraged mortgage lending to US families, from which "the government couldn't bail them out".

He also blamed the Iraq war for dragging down the US economy. "It has been proved to be an enormous error," he said. The war was closely related to the economic problems and "a disaster in every way", he said.

In his speech, titled "China and Globalisation", Stiglitz said that many people hoped China would save the world from an economic slowdown.

"The fact is that China is a major engine of the world economy and it can make up for deficiencies of the US, but we should also see that China is trying to prevent economic overheating and inflation."

Stiglitz, an economic adviser during the Clinton administration, is now a professor at Columbia University in New York and chair of the school's Committee Global Thought.

He recently unveiled a new book titled "The Three Trillion War", which he wrote with Linda Bilmes of Harvard University's Kennedy School of Government.

The book argues the war will cost at least $3 trillion, assuming that US troops won't withdraw completely before 2017.

Orchid Chemicals plunges on promoter follies

Shares of Orchid Chemicals & Pharmaceuticals Ltd. plunged nearly 50% this week on news that two financial institutions had sold promoters' shares as they could not meet margin calls. On March 17, the stock tumbled 39.09% to Rs127.05 and lost another 10% on Tuesday to Rs113.60. On Wednesday, the stock closed 2% higher at Rs116.

Kailasam Raghavendra Rao, founder and MD of the Chennai-based company said it incurred a personal loss of Rs 750mn after his lenders sold off 7.5% stake from his family's holdings on March 17. He denied market talk that the company has suffered forex losses. However, some industry analysts feared that the biggest danger is that the company could become a takeover target now that the promoters' stake in the company is just 17%. In March-April 2007, Rao borrowed around Rs 850mn from Indiabulls and Religare to raise the promoters' stake from 17% to 24%. Rao cleared his dues to the two lenders, but still owed nearly Rs 650mn to the FIs and his current stake is pledged to them. Commenting on the recent developments, Orchid Chemicals spokesperson said a combination of macro factors and market rumors contributed to the sudden negative sentiment on the stock.

IQMS Software bags $1 mn order

19 Mar, 2008, 1226 hrs IST, INDIATIMES NEWS NETWORK

Trac Tel Solutions Inc, the US subsidiary of IQMS Software, has bagged $1 million order for on-site consulting work. The order has to be executed in next two quarters.

The nature of job involves solutions for converged prepaid and post paid which includes business control systems comprising of wire line billing & CRM, multi-play, IPTV, mobile virtual network operator, voice over-internet protocol and central billing systems.

Trac Tel Solutions Inc is a leading provider of business control, Billing and CRM solutions for communications service providers. By analysing events from a business standpoint rather than just billing them. Trac Tel deploys its full range of end-to-end, stand-alone and add-on solutions to customers in 5 customer locations and has implemented solutions in wireless, wire line, cable, content and broadband markets including multiple cross-network installations.

J S Suryanarayana, stated that the order procured showcases the IQMS 's capabilities in convergence solutions. Further the company would like to procure repeat orders with the successful execution the current order.

GTL promoter hikes stake in company

24 Mar, 2008, 1639 hrs IST, PTI

The promoter of telecom infrastructure provider GTL Ltd have consolidated their stake in the company to 32.35 per cent.

Global Holding Corporation Pvt Ltd have acquired 2,547,749 shares amounting to 2.69 per cent stake in the company through open market transaction on March 19, GTL said in a disclosure to the Bombay Stock Exchange.

Calculated on the basis of the closing share price of GTL on March 19 (Rs 236.10), the deal value amounts to Rs 60.15 crore. Prior to this transaction, Global Holding Corporation had 29.66 per cent stake which got increased to 32.35 per cent stake.

Further, with the said acquisition the promoters shareholding in the company has gone up from 34.36 per cent to 37.05 per cent, the company added. Shares of GTL were closed at Rs 236.90, up 0.34 per cent on the BSE.

Nicholas Piramal enters rural pharma market

Domestic drug player Nicholas Pharma on Monday said it has launched a pilot project in Rajasthan to take its drugs to rural areas where there is no proper public health system.

"About seven lakh villages in India don't have doctors. The public health system is broken in rural areas," Ms Swati A Piramal, Director, Nicholas Piramal said on launching of the pilot project.

This is the maiden entry of Nicholas Piramal into rural areas. So far, its products are present till Tier III cities. The company has 256 brands in its portfolio. Through this exercise, the company is looking to fill up the gaps in its portfolio, she sa id.

The pilot project would run for six months. "We are using information technology to cure patients for basic diseases. Doctors, who cannot travel to rural areas, would use our system," she said.

According to industry data, about 30 per cent of the Indian population has access to modern medicine. The main reason for lack of availability of medicines in rural areas is absence of qualified doctors and medical stores.

The pharma industry is also planning to take drugs to rural areas through post offices. The industry has given a presentation to Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission on the pros of using a post office to sell over-the-counter d rugs. - PTI

Suven Life Sciences sinks

Suven Life Sciences declined 9.91% to Rs 28.65 at 14:39 IST on BSE even as the company said it has secured patent rights for two of its new chemical entities for the treatment of disorders associated with neurodegenerative diseases.

The company made this announcement during trading hours today, 24 March 2008.

The stock hit a high of Rs 31.80 and a low of Rs 28.65 so far during the day. The stock had a 52-week high of Rs 64.45 on 28 December 2007 and a 52-week low of Rs 28 on 19 October 2007.

The company’s current equity is Rs 11.57 crore. Face value per share is Rs 1.

The current price of Rs 28.65 discounts its Q3 December 2007 annualized EPS of Rs 0.70, by a PE multiple of 40.93.

The patents are valid till 2023. The patents are valid in all contracting countries like Armenia, Azerbaijan, Belarus, Kyrgyzstan, Kazakhstan, Moldova, Russia, Tajikistan and Turkmenistan.

Suven Life Sciences net profit declined 47.5% to Rs 2.01 crore on 12% fall in net sales to Rs 27.46 crore in Q3 December 2007 over Q3 December 2006.

Suven Life Sciences’ principal activity is to design, manufacture and the supply of bulk active, drug intermediates and fine chemicals to the life science industry. The company mainly operates in the USA, Europe, Asia and India.

Welspun Gujarat wins ORDER

Welspun Gujarat Stahl Rohren slumped 7.81% to Rs 294 at 13:57 IST on BSE even as the company said it has bagged pipeline orders worth Rs 1,075 crore for the supply of spiral pipes to Northern Africa.

The company made this announcement during trading hours today, 24 March 2008.

The stock hit a high of Rs 325 and a low of Rs 291.65 so far during the day. The stock had a 52-week high of Rs 537.70 on 17 January 2008 and a 52-week low of Rs 97.80 on 2 April 2007.

The company’s current equity is Rs 85.86 crore. Face value per share is Rs 5.

The current price of Rs 294 discounts its Q3 December 2007 annualized EPS of Rs 22.73, by a PE multiple of 12.93.

With this order, Welspun Gujarat Stahl Rohren’s order book position stands above Rs 5900 crore.

Welspun Gujarat Stahl Rohren’s net profit rose 136.4% to Rs 97.40 crore on 39.1% growth in net sales to Rs 1036.40 in Q3 December 2007 Q3 December 2006.

Welspun Gujarat Stahl Rohren’s business includes production and coating of high-grade submerged arc-welded pipes and electric resistance welded pipes.

Welspun-Gujarat bags Rs 1,075-cr order of spiral pipes

Welspun-Gujarat Stahl Rohren Ltd has announced that the company has bagged prestigious pipeline orders worth Rs 1,075 crore for the supply of spiral pipes in Northern Africa.

The new order has taken Welspun's order book position to above Rs 5,900 crore. This contract has won against European competition reaffirms Welspun's positioning into high-end large diameter business.

Commenting on the orders, Mr. B K Goenka, Vice Chairman and Managing Director of the Welspun Group said, "Welspun's strong demonstration of 'Engineering Excellence' and accreditations from top Oil and Gas companies across the world results in new orders and reinstates our position as one of the largest and premium line pipe companies in the world".

S Kumars Nationwide tumbles

S Kumars Nationwide tanked 25.80% to Rs 84.80 at 12:34 IST on BSE on sustained selling pressure

The stock hit a high of Rs 118.80 and a low of Rs 79.10 so far during the day. The stock had a 52-week high of Rs 177.90 on 16 November 2007 and a 52-week low of Rs 65 on 20 March 2007.

The company’s current equity is Rs 202.16 crore. Face value per share is Rs 10. Promoters hold 44.51% stake in the company (as at end December 2007).

The current price of Rs 84.80 discounts its Q3 December 2007 annualized EPS of Rs 11.32, by a PE multiple of 7.49.

S Kumars Nationwide had posted 72.70% rise in net profit to Rs 57.20 crore on 44.20% growth in net sales to Rs 453.07 crore in Q3 December 2007 over Q3 December 2006.

The S Kumars Nationwide stock plunged 24.46% in three trading sessions to Rs 114.25 on 19 March 2008 from Rs 151.25 on 14 March 2008 on selling pressure from foreign institutional investors. Foreign institutional investor, LB India Holdings Cayman II sold 46.05 lakh shares at Rs 145.60 each in a block deal on Bombay Stock Exchange on 17 March 2008. Another foreign institutional investor BSMA offloaded 26.37 lakh shares at Rs 147.10 per share of the company in a block deal on National Stock Exchange on 17 March 2008. Total foreign holding in the company is 34.06% (as at end December 2007). Morgan Stanley Dean Witter was the buyer in both these block deals.

S Kumars Nationwide is manufactures and markets synthetic textiles. The company’s business segments include consumer textiles, home textiles, worsted suitings & ready to wear solutions.

XL Telecom wins New order of solar panels to the European market

XL Telecom & Energy declined 5.84% to Rs 192.50 at 12:16 IST on BSE even as the company said it has received an export order worth Rs 153.90 crore from Power Utility Company, Europe for the supply of solar panels to the European market.

The company made this announcement during trading hours today, 24 March 2008.

The stock hit a high of Rs 211.80 and a low of Rs 186.50 so far during the day. The stock had a 52-week high of Rs 595 on 31 December 2007 and a 52-week low of Rs 94 on 21 March 2007.

The company’s current equity is Rs 17.48 crore. Face value per share is Rs 10.

The current price of Rs 192.50 discounts its Q2 December 2007 annualized EPS of Rs 23.89, by a PE multiple of 8.06.

XL Telecom & Energy said its total outstanding order book for the export of solar panels stands at more than Rs 675 crore.

In February 2008, the company secured an export order worth Rs 234 crore for the supply of solar panels to the European market.

XL Telecom & Energy’s net profit rose 55.2% to Rs 8.66 crore on 16.7% growth in net sales to Rs 150.45 in Q2 December 2007 over Q2 December 2006.

The company provides telecommunication services. The company manufactures CDMA mobile phones and FWP phones. The company operates through four segments namely CDMA mobile phones, SMPS systems and jointing kits and components. Its customers include Reliance Infocomm, Kyocera, Axesstel, Corning and Siemens.