Housing Development and Infrastructure rose 2.62% to Rs 442.95 at 12:34 IST on BSE after it reported 56.86% rise in net profit to Rs 317.93 crore on 31.89% rise in total income to Rs 588.03 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results during trading hours today, 21 July 2008.
The stock had a 52-week high of Rs 1,432 on 10 January 2008 and a 52-week low of Rs 326.50 on 2 July 2008.
The company has an equity capital of Rs 214.27 crore. Face value per share is Rs 10. The current price of Rs 442.95 discounts its Q4 March 2008 annualised EPS of Rs 132.22, by a PE multiple of 3.35.
Earlier, the company's board had approved bonus issue in the ratio of two shares for every seven shares held.
A Wadhawan group realty firm, Housing Development and Infrastructure (HDIL) has significant operations in the Mumbai metropolitan region.
Monday, July 21, 2008
Zuari Industries robust quarterly earnings
Zuari Industries rose 1.42% to Rs 239.20 at 12:29 IST on BSE on reporting 926.3% surge in net profit to Rs 27.30 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results on Saturday, 19 July 2008.
The stock hit a high of Rs 243 and a low of Rs 238.75 so far during the day. The stock had a 52-week high of Rs 464.90 on 27 December 2007 and a 52-week low of Rs 183.50 on 24 March 2008.
The company has an equity capital of Rs 29.44 crore. Face value per share is Rs 10.
The current price of Rs 239.20 discounts its Q1 June 2008 annualised EPS of Rs 37.09, by a PE multiple of 6.45.
Zuari Industries’ net sales rose 177.8% to Rs 1116.30 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing fertilizers, pesticides, cement and furniture.
The company announced the results on Saturday, 19 July 2008.
The stock hit a high of Rs 243 and a low of Rs 238.75 so far during the day. The stock had a 52-week high of Rs 464.90 on 27 December 2007 and a 52-week low of Rs 183.50 on 24 March 2008.
The company has an equity capital of Rs 29.44 crore. Face value per share is Rs 10.
The current price of Rs 239.20 discounts its Q1 June 2008 annualised EPS of Rs 37.09, by a PE multiple of 6.45.
Zuari Industries’ net sales rose 177.8% to Rs 1116.30 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and marketing fertilizers, pesticides, cement and furniture.
Sadbhav Engineering on stock-split plan
Sadbhav Engineering jumped 5.01% to Rs 600.95 at 12:11 IST on BSE after the company said its board will meet on 29 July 2008 to consider stock-split.
The stock hit a high of Rs 615.70 and a low of Rs 551.50 so far during the day. The stock had a 52-week high of Rs 1,600 on 7 January 2008 and a 52-week low of Rs 550 on 18 July 2008.
The company’s current equity is Rs 12.50 crore. Face value per share is Rs 10.
Sadbhav Engineering constructs earthen dams, canals, and syphons, remodels and improves canals, rehabilitates, upgrades, widens and strengthens roads and highways and mines minerals.
The stock hit a high of Rs 615.70 and a low of Rs 551.50 so far during the day. The stock had a 52-week high of Rs 1,600 on 7 January 2008 and a 52-week low of Rs 550 on 18 July 2008.
The company’s current equity is Rs 12.50 crore. Face value per share is Rs 10.
Sadbhav Engineering constructs earthen dams, canals, and syphons, remodels and improves canals, rehabilitates, upgrades, widens and strengthens roads and highways and mines minerals.
Strides Arcolab plans to merge subsidiaries
Strides Arcolab rose 4.11% to Rs 143.10 at 11:44 IST on BSE after company said its board will meet on 22 July 2008 to consider a proposal to merge its subsidiaries Grandix Pharmaceuticals, Grandix Laboratories and Global Remedies with the company.
The stock hit a high of Rs 149.10 and a low of Rs 135.60 so far during the day. The stock had a 52-week high of Rs 328 on 12 December 2007 and a 52-week low of Rs 112 on 4 July 2008.
The pharma firm will announce its Q1 June 2008 result on 22 July 2008.
Strides Arcolab reported a net loss of Rs 16.05 crore in Q1 March 2008 as compared to net profit of Rs 7.76 crore in Q1 March 2007. Net sales rose 12.8% to Rs 119.69 crore in Q1 March 2008 over Q1 March 2007.
The company manufactures ethical pharmaceutical products, over the counter (OTC) products and nutraceuticals. It performs its activities through two segments, pharma and contract research and manufacturing (CRAM).
The stock hit a high of Rs 149.10 and a low of Rs 135.60 so far during the day. The stock had a 52-week high of Rs 328 on 12 December 2007 and a 52-week low of Rs 112 on 4 July 2008.
The pharma firm will announce its Q1 June 2008 result on 22 July 2008.
Strides Arcolab reported a net loss of Rs 16.05 crore in Q1 March 2008 as compared to net profit of Rs 7.76 crore in Q1 March 2007. Net sales rose 12.8% to Rs 119.69 crore in Q1 March 2008 over Q1 March 2007.
The company manufactures ethical pharmaceutical products, over the counter (OTC) products and nutraceuticals. It performs its activities through two segments, pharma and contract research and manufacturing (CRAM).
Bharati Shipyard on expansion plan
Bharati Shipyard declined 0.22% to Rs 270.30 at 11:05 IST following reports the company is planning to invest Rs 1500 crore in two phases to build a ship-building yard in Gujarat.
The stock hit a high of Rs 276.45 and a low of Rs 270 so far during the day. The stock had a 52-week high of Rs 865 on 4 January 2008 and a 52-week low of Rs 268 on 18 July 2008.
The company has an equity capital of Rs 27.57 crore. Face value per share is Rs 10.
The current price of Rs 270.30 discounts its Q4 March 2008 annualised EPS of Rs 47.37, by a PE multiple of 5.7.
The company may raise Rs 400 crore to Rs 500 crore to fund expansion plan, reports suggest.
The company’s net profit rose 6.2% to Rs 32.65 crore on 30.3% rise in sales to Rs 206.41 crore in Q4 March 2008 over Q4 March 2007.
Bharati Shipyard designs and constructs sea going, coastal, harbor and inland crafts and vessels. Its product-range has been upgraded from the simple inland cargo barges, deep-sea trawlers, dredgers, maneuverable and power-packed ocean-going tractor tugs, cargo-ships, tankers and vessels with applications in the offshore industry.
The stock hit a high of Rs 276.45 and a low of Rs 270 so far during the day. The stock had a 52-week high of Rs 865 on 4 January 2008 and a 52-week low of Rs 268 on 18 July 2008.
The company has an equity capital of Rs 27.57 crore. Face value per share is Rs 10.
The current price of Rs 270.30 discounts its Q4 March 2008 annualised EPS of Rs 47.37, by a PE multiple of 5.7.
The company may raise Rs 400 crore to Rs 500 crore to fund expansion plan, reports suggest.
The company’s net profit rose 6.2% to Rs 32.65 crore on 30.3% rise in sales to Rs 206.41 crore in Q4 March 2008 over Q4 March 2007.
Bharati Shipyard designs and constructs sea going, coastal, harbor and inland crafts and vessels. Its product-range has been upgraded from the simple inland cargo barges, deep-sea trawlers, dredgers, maneuverable and power-packed ocean-going tractor tugs, cargo-ships, tankers and vessels with applications in the offshore industry.
RCom calling off tie-up talks with MTN
Reliance Communications called off tie-up talks with South Africa's MTN Group.
The company announced the calling off the tie-up talks on Saturday, 19 July 2008.
The stock hit a high of Rs 450 and a low of Rs 432 so far during the day. The stock had a 52-week high of Rs 844 on 10 Janaury 2008 and a 52-week low of Rs 381.05 on 3 July 2007.
The company has an equity capital of Rs 1,032.01 crore. Face value per share is Rs 5.
The current price of Rs 444.50 discounts its Q1 June 2008 annualised EPS of Rs 9.91, by a PE multiple of 44.85.
Reliance Communication (RCom) announced to BSE that owing to certain legal and regulatory issues, the company is presently unable to conclude a transaction. Accordingly the two firms have mutually decided to allow the exclusivity agreement for tie-up talks to lapse.
MTN and Reliance Communications had agreed on 9 July 2008 to extend their merger talks until 21 July 2008 in a bid to reach an agreement.
Recent reports said RCom had received a notice for arbitration from Reliance Industries (RIL) over the company's merger talks with South Africa's MTN Group. RIL had earlier claimed a first right of refusal for acquiring controlling stake in RCom.
Reliance Communication (RCom)’s consolidated net profit jumped 47% to Rs 1503.26 crore on 36% growth in sales to Rs 5250.01 crore in Q4 March 2008 over Q4 March 2007.
RCom provides telecommunication services. The company provides wireless, wire line, voice, data and Internet communication services
The company announced the calling off the tie-up talks on Saturday, 19 July 2008.
The stock hit a high of Rs 450 and a low of Rs 432 so far during the day. The stock had a 52-week high of Rs 844 on 10 Janaury 2008 and a 52-week low of Rs 381.05 on 3 July 2007.
The company has an equity capital of Rs 1,032.01 crore. Face value per share is Rs 5.
The current price of Rs 444.50 discounts its Q1 June 2008 annualised EPS of Rs 9.91, by a PE multiple of 44.85.
Reliance Communication (RCom) announced to BSE that owing to certain legal and regulatory issues, the company is presently unable to conclude a transaction. Accordingly the two firms have mutually decided to allow the exclusivity agreement for tie-up talks to lapse.
MTN and Reliance Communications had agreed on 9 July 2008 to extend their merger talks until 21 July 2008 in a bid to reach an agreement.
Recent reports said RCom had received a notice for arbitration from Reliance Industries (RIL) over the company's merger talks with South Africa's MTN Group. RIL had earlier claimed a first right of refusal for acquiring controlling stake in RCom.
Reliance Communication (RCom)’s consolidated net profit jumped 47% to Rs 1503.26 crore on 36% growth in sales to Rs 5250.01 crore in Q4 March 2008 over Q4 March 2007.
RCom provides telecommunication services. The company provides wireless, wire line, voice, data and Internet communication services
BEML Strong Q4 numbers
BEML slipped 0.69% to Rs 651 at 10:09 IST on BSE despite reporting 26.72% rise in net profit to Rs 118.5 crore on 14.71% increase in total income to Rs 1099.43 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results on Saturday, 19 July 2008.
The stock hit a high of Rs 671 and a low of Rs 650 so far during the day. The stock had a 52-week high of Rs 1849.95 on 5 December 2007 and a 52-week low of Rs 600 on 16 July 2008.
The company has an equity capital of Rs 41.64 crore. Face value per share is Rs 10.
The current price of Rs 651 discounts its Q4 March 2008 annualised EPS of Rs 113.83, by a PE multiple of 5.72.
BEML reported a 10.11% rise in net profit to Rs 225.65 crore on 6.26% increase in total income to Rs 2634.43 crore in the year ended March 2008 over the year ended March 2007.
On 15 July 2008, BEML bagged export orders aggregating to Rs 34.50 crore from African countries for supply of equipments.
BEML earlier known as Bharat Earth Movers is engaged in manufacturing mining and construction equipments, railway rolling stocks, metro and defense equipments and aggregates. The products include bulldozers, shovels, excavators, dumpers, railway and transway passenger coaches.
The company announced the results on Saturday, 19 July 2008.
The stock hit a high of Rs 671 and a low of Rs 650 so far during the day. The stock had a 52-week high of Rs 1849.95 on 5 December 2007 and a 52-week low of Rs 600 on 16 July 2008.
The company has an equity capital of Rs 41.64 crore. Face value per share is Rs 10.
The current price of Rs 651 discounts its Q4 March 2008 annualised EPS of Rs 113.83, by a PE multiple of 5.72.
BEML reported a 10.11% rise in net profit to Rs 225.65 crore on 6.26% increase in total income to Rs 2634.43 crore in the year ended March 2008 over the year ended March 2007.
On 15 July 2008, BEML bagged export orders aggregating to Rs 34.50 crore from African countries for supply of equipments.
BEML earlier known as Bharat Earth Movers is engaged in manufacturing mining and construction equipments, railway rolling stocks, metro and defense equipments and aggregates. The products include bulldozers, shovels, excavators, dumpers, railway and transway passenger coaches.
Cipla gains on decent Q1 results
Cipla gained 1.74% to Rs 219 at 9:55 IST on BSE on reporting a 16.9% rise in net profit to Rs 140.04 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results after trading hours on Friday, 18 July 2008.
The stock hit a high of Rs 219 and a low of Rs 216.10 so far during the day. The stock had a 52-week high of Rs 233.80 on 23 April 2008 and a 52-week low of Rs 160 on 22 August 2007.
The company has an equity capital of Rs 155.45 crore. Face value per share is Rs 2.
The current price of Rs 219 discounts its Q1 June 2008 annualised EPS of Rs 7.21, by a PE multiple of 30.37.
The company’s net sales rose 33.9% to Rs 1207.12 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures pharmaceutical products. The products of the company include anti-asthmatics, anti-cancer, anti-inflammatory, anti-depressant and other therapeutic index including animal health care products.
The company announced the results after trading hours on Friday, 18 July 2008.
The stock hit a high of Rs 219 and a low of Rs 216.10 so far during the day. The stock had a 52-week high of Rs 233.80 on 23 April 2008 and a 52-week low of Rs 160 on 22 August 2007.
The company has an equity capital of Rs 155.45 crore. Face value per share is Rs 2.
The current price of Rs 219 discounts its Q1 June 2008 annualised EPS of Rs 7.21, by a PE multiple of 30.37.
The company’s net sales rose 33.9% to Rs 1207.12 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures pharmaceutical products. The products of the company include anti-asthmatics, anti-cancer, anti-inflammatory, anti-depressant and other therapeutic index including animal health care products.
Post- Market Commentary. Monday, July 21, 2008
Market shrugs off political uncertainty; Sensex garners 1274 points in three days
The market notched decent gains amid intra-day volatility, extending its winning streak to third straight trading session ahead of the government's trust vote in parliament to be held on Tuesday, 22 July 2008. A strong rally in Asian stocks lifted the investor sentiment. Healthcare pivotals were in demand. Banking stocks notched up modest gains even as capital goods shares declined.
Prime Minister Dr Manmohan Singh today, 21 July 2008, morning moved the confidence motion in Lok Sabha. Earlier, Dr Singh asserted that his government will win the vote of confidence
BSE Sensex gained 214.64 points or 1.57% at 13,850.04.
S&P CNX Nifty advanced 67.25 points or 1.64% at 4159.50.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 21 July 2008, sold shares worth a net Rs 62.22 crore. Domestic funds sold shares worth a net Rs 230.96 crore.
The market breadth was weak on BSE with 1169 shares advancing as compared to 1362 that declined. 85 remained unchanged.
The market notched decent gains amid intra-day volatility, extending its winning streak to third straight trading session ahead of the government's trust vote in parliament to be held on Tuesday, 22 July 2008. A strong rally in Asian stocks lifted the investor sentiment. Healthcare pivotals were in demand. Banking stocks notched up modest gains even as capital goods shares declined.
Prime Minister Dr Manmohan Singh today, 21 July 2008, morning moved the confidence motion in Lok Sabha. Earlier, Dr Singh asserted that his government will win the vote of confidence
BSE Sensex gained 214.64 points or 1.57% at 13,850.04.
S&P CNX Nifty advanced 67.25 points or 1.64% at 4159.50.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 21 July 2008, sold shares worth a net Rs 62.22 crore. Domestic funds sold shares worth a net Rs 230.96 crore.
The market breadth was weak on BSE with 1169 shares advancing as compared to 1362 that declined. 85 remained unchanged.
Sunday, July 20, 2008
Videocon to invest Rs 800cr in retail expansion
Videocon Retail Ltd, part of the Venugopal Dhoot-promoted Videocon Industries, plans to invest Rs 800 crore in expanding its electronic retail format Next Retail and mobiles, music, entertainment and lifestyle chain Planet M in the next three years, said Saurav Dhoot, director, Videocon Retail.
Videocon, which acquired the leisure format from media conglomerate Bennett, Coleman and Co in November 2007, has so far launched 80 revamped Planet M stores. It plans to take the number of outlets to 1,500 from the present 200 in the next three years. Simultaneously, Next outlets will be ramped up to 650, from the existing 400.
Dhoot said the company was witnessing 40 per cent revenues from sale of mobile phones and accessories at Planet M. It is looking at offering company-labelled telecom products including mobile pouches, phone insurance and extended warranties. It is in talks with a few general insurance companies. Apart from retailing mobiles and IT products, the company has plans to launch laptops, mobile phones and gaming solutions under the Videocon brand, he added while declining to divulge further details.
Meanwhile, Videocon Retail on Sunday launched the country's first cafe-in-store Cafe eARTh, a platform for young budding artists to portray their talent, at its Planet M store in Hyderabad. "Our idea is to launch 250 cafe-in-stores in the next three years," Dhoot said.
Videocon Retail garnered revenues of Rs 800 crore from Next and Rs 100 crore from Planet M last year. With the enhanced retail presence, this year's revenue contribution from the two formats will be Rs 1,500 crore and Rs 400 crore respectively, he said.
Videocon, which acquired the leisure format from media conglomerate Bennett, Coleman and Co in November 2007, has so far launched 80 revamped Planet M stores. It plans to take the number of outlets to 1,500 from the present 200 in the next three years. Simultaneously, Next outlets will be ramped up to 650, from the existing 400.
Dhoot said the company was witnessing 40 per cent revenues from sale of mobile phones and accessories at Planet M. It is looking at offering company-labelled telecom products including mobile pouches, phone insurance and extended warranties. It is in talks with a few general insurance companies. Apart from retailing mobiles and IT products, the company has plans to launch laptops, mobile phones and gaming solutions under the Videocon brand, he added while declining to divulge further details.
Meanwhile, Videocon Retail on Sunday launched the country's first cafe-in-store Cafe eARTh, a platform for young budding artists to portray their talent, at its Planet M store in Hyderabad. "Our idea is to launch 250 cafe-in-stores in the next three years," Dhoot said.
Videocon Retail garnered revenues of Rs 800 crore from Next and Rs 100 crore from Planet M last year. With the enhanced retail presence, this year's revenue contribution from the two formats will be Rs 1,500 crore and Rs 400 crore respectively, he said.
Nifty may re-test recent highs
WEEKLY TECHNICAL ANALYSIS
Rex Cano / Mumbai
The markets bounced back sharply in the last two days of the trading week, mainly on account of short-covering in banking stocks, as the
The Nifty hit a fresh calendar low of 3,790 (close to the support level of 3,770 mentioned last week) and then pulled back to higher levels. The buying momentum was so strong that the index zipped past the 4,000-mark to a high of 4,118. The index finally settled with gains of 43 points at 4,092.
| KEY LEVELS | ||
|
| Sensex | Nifty |
| S3 | 12910 | 3890 |
| S2 | 13050 | 3930 |
| S1 | 13190 | 3965 |
| Close | 13635 | 4092 |
| R1 | 14080 | 4215 |
| R2 | 14220 | 4255 |
| R3 | 14360 | 4295 |
| S-Support level
| ||
The Nifty MACD (moving average convergence divergence) and Stochastic Slow indicate more upside. The index could re-test its recent high of 4,215. If it sustains above this level, one may see the 4,500 level in the medium term.
The index closed above its short-term moving (20-days) average (4,064) after a gap of 41 days. The medium-term (50-days) moving average is 4,492. Going forward, the 3,850 level will be crucial. The Nifty may see a further upside as long as it trades above this level. But a dip below the mark could take the index up to 3,400-3,250.
The Nifty is likely to find support around 3,965-3,930-3,890, while it may face resistance around 4,215-4,255-4,295 this week.
The Sensex moved in a range of 1,170 points - from a low of 12,514, the index rallied to a high of 13,684 and finally ended with gains of 165 points at 13,635.
Among the index stocks, ONGC and Maruti soared 11 per cent each. Larsen & Toubro, Bharti Airtel, NTPC, Reliance Infrastructure and SBI gained 6-8 per cent each. On the other hand, Ranbaxy slumped 18 per cent to Rs 531, and Satyam, Wipro, Tata Steel, Hindalco and Infosys dropped 8-14 per cent each.
Thursday, July 17, 2008
BGR Energy hits 20% upper circuit
17 Jul, 2008, 1558 hrs IST, E.T
BGR Energy Systems hit 20 per cent upper circuit on Thursday, a day after it bagged an EPC contract worth Rs 4,900 crore from Rajasthan Rajya Vidyut Utpadan Nigam for 2 x 600 MW Kalisindh Thermal Power Project.
At 3pm, the stock was at Rs 297.35, up Rs 49.55 on volume of 18,53,451 shares. The scrip has advanced 23.30 per cent in the past one week.
In June, the company had secured a similar contract from Tamil Nadu Electricity Board for 1x600 MW project.
The order book of the company now stands over Rs 11,000 crore, which includes BoP contracts of 500 MW and two EPC contracts of 600 MW units and contracts of oil& gas equipment sector projects.
The company had a great listing on the exchange in January this year. The scrip listed at Rs 840 on the NSE, a premium of Rs 360 or 75 per cent to the issue price of Rs 480 per share. But due to steep correction in shares prices of power companies, BGR Energy shares fell to trade at 50 per cent discount to issue price.
via:E.T
BGR Energy Systems hit 20 per cent upper circuit on Thursday, a day after it bagged an EPC contract worth Rs 4,900 crore from Rajasthan Rajya Vidyut Utpadan Nigam for 2 x 600 MW Kalisindh Thermal Power Project.
At 3pm, the stock was at Rs 297.35, up Rs 49.55 on volume of 18,53,451 shares. The scrip has advanced 23.30 per cent in the past one week.
In June, the company had secured a similar contract from Tamil Nadu Electricity Board for 1x600 MW project.
The order book of the company now stands over Rs 11,000 crore, which includes BoP contracts of 500 MW and two EPC contracts of 600 MW units and contracts of oil& gas equipment sector projects.
The company had a great listing on the exchange in January this year. The scrip listed at Rs 840 on the NSE, a premium of Rs 360 or 75 per cent to the issue price of Rs 480 per share. But due to steep correction in shares prices of power companies, BGR Energy shares fell to trade at 50 per cent discount to issue price.
via:E.T
Unitech receives Rs 740 cr from Lehman
17 Jul, 2008, 1639 hrs IST, PTI
MUMBAI: Unitech Ltd today said it has received Rs 740 crore from global investment bank Lehman Brothers Real Estate Partners for a 50 per cent stake in the country's second largest realty firm's project.
"On satisfactory completion of all the conditions under the transaction documents, Unitech Ltd today received subscription amount of Rs 740 crore," the realty major said in a filing to the Bombay Stock Exchange.
Lehman Brothers Real Estate Partners have been allotted 50 per cent stake in the initial phase of a master-planned project on the Western Expressway of Mumbai.
The construction cost for the initial phase would be borne by Lehman Brothers Real Estate and the Western Expressway JV, a joint venture of Unitech Ltd and its local partners, the filing added.
The initial phase entails development of one million square feet of office space out of the total developable area of around 18 million square feet.
Lehman Brothers' Real Estate group is a capital and advisory services provider to the real estate firms.
The group has presence in all of the major international markets, with investment bankers in New York, Los Angeles, London, Milan, Tokyo and Hong Kong.
MUMBAI: Unitech Ltd today said it has received Rs 740 crore from global investment bank Lehman Brothers Real Estate Partners for a 50 per cent stake in the country's second largest realty firm's project.
"On satisfactory completion of all the conditions under the transaction documents, Unitech Ltd today received subscription amount of Rs 740 crore," the realty major said in a filing to the Bombay Stock Exchange.
Lehman Brothers Real Estate Partners have been allotted 50 per cent stake in the initial phase of a master-planned project on the Western Expressway of Mumbai.
The construction cost for the initial phase would be borne by Lehman Brothers Real Estate and the Western Expressway JV, a joint venture of Unitech Ltd and its local partners, the filing added.
The initial phase entails development of one million square feet of office space out of the total developable area of around 18 million square feet.
Lehman Brothers' Real Estate group is a capital and advisory services provider to the real estate firms.
The group has presence in all of the major international markets, with investment bankers in New York, Los Angeles, London, Milan, Tokyo and Hong Kong.
Inflation at 11.9 per cent
The provisional wholesale price index (WPI) based annual rate of inflation for the week ended July 5 is seen at 11.9 per cent, rising marginally over 11.89 per cent recorded in the week earlier.
Bosch makes open offer for 20% in Indian entity
Press Trust of India / Mumbai July 17, 2008, 19:15 IST
German firm Robert Bosch GmbH today made a open offer to the shareholders of Bosch Chassis Systems India for acquiring 20 per cent stake in the company at a maximum price of Rs 600 per share.
As per the open offer Robert Bosch GmbH would acquire up to 4,158,906 equity shares of Rs 10 each representing 20 per cent of the fully paid-up equity share capital of its Indian entity, auto ancillary firm Bosch Chassis said in a filing to the Bombay Stock Exchange.
The offer is scheduled to open on August 4 and would close on August 8.
The Germany-based firm is the holding company of Robert Bosch LLC and Robert Bosch Investment Nederland B V, the promoters of Bosch Chassis Systems India.
The promoter holding in Bosch Chassis Systems India is 80 per cent of the total issued equity share capital of the company.
Pursuant to the open offer the promoter shareholding in Bosch Chassis Systems India would increase to 100 per cent and would entail the delisting of fully paid up equity shares of the company from the Bombay Stock Exchange and the National Stock Exchange.
The German firm would make the voluntary delisting offer to the public shareholders of Bosch Chassis Systems in accordance with the delisting guidelines.
The delisting offer would enhance operating flexibility of the company and would provide a second exit opportunity to the public shareholders of the company.
The price for the offer would be determined after the reverse book building process, the company said.
German firm Robert Bosch GmbH today made a open offer to the shareholders of Bosch Chassis Systems India for acquiring 20 per cent stake in the company at a maximum price of Rs 600 per share.
As per the open offer Robert Bosch GmbH would acquire up to 4,158,906 equity shares of Rs 10 each representing 20 per cent of the fully paid-up equity share capital of its Indian entity, auto ancillary firm Bosch Chassis said in a filing to the Bombay Stock Exchange.
The offer is scheduled to open on August 4 and would close on August 8.
The Germany-based firm is the holding company of Robert Bosch LLC and Robert Bosch Investment Nederland B V, the promoters of Bosch Chassis Systems India.
The promoter holding in Bosch Chassis Systems India is 80 per cent of the total issued equity share capital of the company.
Pursuant to the open offer the promoter shareholding in Bosch Chassis Systems India would increase to 100 per cent and would entail the delisting of fully paid up equity shares of the company from the Bombay Stock Exchange and the National Stock Exchange.
The German firm would make the voluntary delisting offer to the public shareholders of Bosch Chassis Systems in accordance with the delisting guidelines.
The delisting offer would enhance operating flexibility of the company and would provide a second exit opportunity to the public shareholders of the company.
The price for the offer would be determined after the reverse book building process, the company said.
Ranbaxy, Daiichi reconfirm deal
Daiichi Sankyo Company and Ranbaxy Laboratories today reiterated that the agreement between Daiichi Sankyo, Ranbaxy and the Singh family, the largest controlling shareholders of Ranbaxy, is binding and final, subject to regulatory approvals.
Daiichi Sankyo, Ranbaxy and the Singh family remain committed to the transaction and to the vision of creating a complementary business combination that provides sustainable growth by diversification and an enhanced global reach. Daiichi Sankyo, Ranbaxy and the Singh family stand by the deal and confirm that the terms of the deal remain unchanged, a company statement said. All the synergies expected to accrue to the combine, remain intact as before.
The Share Purchase and Share Subscription Agreement has earlier been unanimously approved by the Boards of Directors of both companies. Coupled with the approval now in place from the shareholders, this clears the decks for the deal to proceed as planned.
BS Reporter / New Delhi July 17, 2008, 19:15 IST
Daiichi Sankyo, Ranbaxy and the Singh family remain committed to the transaction and to the vision of creating a complementary business combination that provides sustainable growth by diversification and an enhanced global reach. Daiichi Sankyo, Ranbaxy and the Singh family stand by the deal and confirm that the terms of the deal remain unchanged, a company statement said. All the synergies expected to accrue to the combine, remain intact as before.
The Share Purchase and Share Subscription Agreement has earlier been unanimously approved by the Boards of Directors of both companies. Coupled with the approval now in place from the shareholders, this clears the decks for the deal to proceed as planned.
BS Reporter / New Delhi July 17, 2008, 19:15 IST
Polaris Software strong Q1 results
Polaris Software Lab spurted 16.79% to Rs 79.65 at 15:28 IST on BSE after posting 40.27% surge in net profit to Rs 19 crore on 11.59% growth in net sales to Rs 267.12 crore in Q1 June 2008 over Q4 March 2008.
The company announced the results during trading hours today, 17 July 2008.
The stock hit a high of Rs 80 and a low of Rs 68.60 so far during the day. The stock had a 52-week high of Rs 150 on 18 July 2007 and a 52-week low of Rs 62.80 on 2 July 2008.
The company has an equity capital of Rs 49.33 crore. Face value per share is Rs 5.
The current price of Rs 79.65 discounts its Q4 March 2008 annualised EPS of Rs 5.49, by a PE multiple of 14.51.
In March 2008, Polaris Retail Infotech, a wholly subsidiary of Polaris Software Lab launched Smart Store, a retail software product for small retail businesses.
Polaris Software Lab delivers customized software solutions and products in the domain of banking, financial services and insurance (BFSI).
The company announced the results during trading hours today, 17 July 2008.
The stock hit a high of Rs 80 and a low of Rs 68.60 so far during the day. The stock had a 52-week high of Rs 150 on 18 July 2007 and a 52-week low of Rs 62.80 on 2 July 2008.
The company has an equity capital of Rs 49.33 crore. Face value per share is Rs 5.
The current price of Rs 79.65 discounts its Q4 March 2008 annualised EPS of Rs 5.49, by a PE multiple of 14.51.
In March 2008, Polaris Retail Infotech, a wholly subsidiary of Polaris Software Lab launched Smart Store, a retail software product for small retail businesses.
Polaris Software Lab delivers customized software solutions and products in the domain of banking, financial services and insurance (BFSI).
Amrutanjan soars on special dividend
Amrutanjan jumped 4.06% at 381.85 after the company announced a special dividend of Rs 40 a share on account of a recent land sale for Rs 110 crore.
The dividend yield works out to 10.47%.
On BSE, 9040 shares were traded in the scrip. The stock hit a high of Rs 400 and a low of Rs 370.10 so far during the day.
The company today reported 39.21% decline in net profit to Rs 0.31 crore on 8.03% fall in sales to Rs 12.48 crore in Q1 June 2008 over Q1 June 2007.
The dividend yield works out to 10.47%.
On BSE, 9040 shares were traded in the scrip. The stock hit a high of Rs 400 and a low of Rs 370.10 so far during the day.
The company today reported 39.21% decline in net profit to Rs 0.31 crore on 8.03% fall in sales to Rs 12.48 crore in Q1 June 2008 over Q1 June 2007.
Unichem Lab spurts on healthy Q1 prescription
Unichem Laboratories gained 13.90% to Rs 177 at 14:30 IST on BSE on reporting 48.34% surge in net profit to Rs 33.38 crore on 18.27% increase in net sales to Rs 181.54 crore in Q1 June 2008 over Q1 June 2007.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 181.25 and a low of Rs 151 so far during the day. The stock had a 52-week high of Rs 262 on 19 July 2007 and a 52-week low of Rs 116.60 on 24 March 2008.
The company has an equity capital of Rs 18.02 crore. Face value per share is Rs 5.
The current price of Rs 177 discounts its Q4 March 2008 annualised EPS of Rs 5.23, by a PE multiple of 33.84.
On 24 June 2008, Unichem Laboratories received approval from US Food and Drug for its plant situated at Ghaziabad in the state of Uttar Pradesh.
On 16 June 2008, Unichem Laboratories received good manufacturing practice certificate from European Directorate for its active substances plant situated at Roha, Maharashtra.
Unichem Laboratories is engaged in manufacturing and marketing pharmaceutical formulations, bulk drugs and drug intermediates.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 181.25 and a low of Rs 151 so far during the day. The stock had a 52-week high of Rs 262 on 19 July 2007 and a 52-week low of Rs 116.60 on 24 March 2008.
The company has an equity capital of Rs 18.02 crore. Face value per share is Rs 5.
The current price of Rs 177 discounts its Q4 March 2008 annualised EPS of Rs 5.23, by a PE multiple of 33.84.
On 24 June 2008, Unichem Laboratories received approval from US Food and Drug for its plant situated at Ghaziabad in the state of Uttar Pradesh.
On 16 June 2008, Unichem Laboratories received good manufacturing practice certificate from European Directorate for its active substances plant situated at Roha, Maharashtra.
Unichem Laboratories is engaged in manufacturing and marketing pharmaceutical formulations, bulk drugs and drug intermediates.
Timken India on a roll after strong quarterly earnings
Timken India advanced 11.76% to Rs 86 at 12:34 IST on BSE after posting 44.2% surge in net profit to Rs 16.42 crore on 28% increase in net sales to Rs 104.05 crore in Q2 June 2008 over Q2 June 2007.
The company announced the results after trading hours yesterday, 16 July 2008.
The stock hit a high of Rs 88 and a low of Rs 78.80 so far during the day. The stock had a 52-week high of Rs 173.85 on 3 January 2008 and a 52-week low of Rs 70.10 on 2 July 2008.
The company has an equity capital of Rs 63.73 crore. Face value per share is Rs 10.
The current price of Rs 86 discounts its Q2 June 2008 annualised EPS of Rs 10.31, by a PE multiple of 24.63.
Timken came out with impressive numbers in Q2 June 2008 despite commercial vehicles industry, one of the key user industries for tapered roller bearings, witnessing tough times.
The company is engaged in manufacturing tapered roller bearings at Jamshedpur plant. The company markets its products in India, the United States of America, Europe and Brazil.
The company announced the results after trading hours yesterday, 16 July 2008.
The stock hit a high of Rs 88 and a low of Rs 78.80 so far during the day. The stock had a 52-week high of Rs 173.85 on 3 January 2008 and a 52-week low of Rs 70.10 on 2 July 2008.
The company has an equity capital of Rs 63.73 crore. Face value per share is Rs 10.
The current price of Rs 86 discounts its Q2 June 2008 annualised EPS of Rs 10.31, by a PE multiple of 24.63.
Timken came out with impressive numbers in Q2 June 2008 despite commercial vehicles industry, one of the key user industries for tapered roller bearings, witnessing tough times.
The company is engaged in manufacturing tapered roller bearings at Jamshedpur plant. The company markets its products in India, the United States of America, Europe and Brazil.
Chambal Fertilisers sinks on dismal Q1 figures
Chambal Fertilisers & Chemicals declined 1.48% to Rs 56.40 at 12:02 IST on BSE on reporting 61.44% fall in net profit to Rs 23.80 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results after trading hours yesterday, 16 July 2008.
The stock hit a high of Rs 61 and a low of Rs 55.40 so far during the day. The stock had a 52-week high of Rs 96.40 on 16 June 2008 and a 52-week low of Rs 32 on 2 August 2007.
The company has an equity capital of Rs 416.21 crore. Face value per share is Rs 2.
The current price of Rs 56.40 discounts its Q1 June 2008 annualised EPS of Rs 2.29, by a PE multiple of 24.63.
Chambal Fertilisers & Chemicals’ total income rose 31.9% to Rs 843.78 crore in Q1 June 2008 over Q1 June 2007.
Chambal Fertilisers caters to the northern and western regions of India and supplies urea to nine states. The company markets urea under the brand name, Uttam Veer.
The company announced the results after trading hours yesterday, 16 July 2008.
The stock hit a high of Rs 61 and a low of Rs 55.40 so far during the day. The stock had a 52-week high of Rs 96.40 on 16 June 2008 and a 52-week low of Rs 32 on 2 August 2007.
The company has an equity capital of Rs 416.21 crore. Face value per share is Rs 2.
The current price of Rs 56.40 discounts its Q1 June 2008 annualised EPS of Rs 2.29, by a PE multiple of 24.63.
Chambal Fertilisers & Chemicals’ total income rose 31.9% to Rs 843.78 crore in Q1 June 2008 over Q1 June 2007.
Chambal Fertilisers caters to the northern and western regions of India and supplies urea to nine states. The company markets urea under the brand name, Uttam Veer.
McNally Bharat Engineering moves Up on new order win
McNally Bharat Engineering Company gained 5.59% to Rs 118 at 11:21 IST on BSE after the company said it has bagged an order worth Rs 246 crore from Vedanta Alumina.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 120.70 and a low of Rs 116.70 so far during the day. The stock had a 52-week high of Rs 316.90 on 17 December 2007 and a 52-week low of Rs 106 on 15 July 2008.
The company has an equity capital of Rs 31.24 crore. Face value per share is Rs 10.
The current price of Rs 118 discounts its Q4 March 2008 annualised EPS of Rs 9.86, by a PE multiple of 11.97.
In June 2008, McNally Bharat Engineering Company (MBECL) bagged an order worth Rs 47.30 crore from Mundra Port and Special Economic Zone, Ahmedabad for supply of four rail mounted bucket wheels.
In May 2008, the company’s board approved acquiring 68.3% in Gujarat-based Sayaji Iron & Engineering Company.
MBECL’s net profit rose 9.1% to Rs 7.07 crore on 20.3% increase in net sales to Rs 205.75 crore in Q4 March 2008 over Q4 March 2007.
The company provides turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 120.70 and a low of Rs 116.70 so far during the day. The stock had a 52-week high of Rs 316.90 on 17 December 2007 and a 52-week low of Rs 106 on 15 July 2008.
The company has an equity capital of Rs 31.24 crore. Face value per share is Rs 10.
The current price of Rs 118 discounts its Q4 March 2008 annualised EPS of Rs 9.86, by a PE multiple of 11.97.
In June 2008, McNally Bharat Engineering Company (MBECL) bagged an order worth Rs 47.30 crore from Mundra Port and Special Economic Zone, Ahmedabad for supply of four rail mounted bucket wheels.
In May 2008, the company’s board approved acquiring 68.3% in Gujarat-based Sayaji Iron & Engineering Company.
MBECL’s net profit rose 9.1% to Rs 7.07 crore on 20.3% increase in net sales to Rs 205.75 crore in Q4 March 2008 over Q4 March 2007.
The company provides turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply.
Gateway Distriparks soars on buyback plan
Gateway Distriparks jumped 7.4% to Rs 79.50 at 10:59 IST on BSE after the company said its board will meet on 25 July 2008 to consider buyback of equity shares.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 83.10 and a low of Rs 75.25 so far during the day. The stock had a 52-week high of Rs 174.30 on 4 January 2008 and a 52-week low of Rs 64.55 on 30 June 2008.
The company has an equity capital of Rs 115.60 crore. Face value per share is Rs 10.
The current price of Rs 79.50 discounts its Q4 March 2008 annualised EPS of Rs 6.98, by a PE multiple of 11.39.
Gateway Distriparks’ net profit rose 1.4% to Rs 20.17 crore on 27.5% increase in net sales to Rs 45.41 crore in Q4 March 2008 over Q4 March 2007.
Gateway Distriparks is mainly into container handling business.
The company made this announcement during trading hours today, 17 July 2008.
The stock hit a high of Rs 83.10 and a low of Rs 75.25 so far during the day. The stock had a 52-week high of Rs 174.30 on 4 January 2008 and a 52-week low of Rs 64.55 on 30 June 2008.
The company has an equity capital of Rs 115.60 crore. Face value per share is Rs 10.
The current price of Rs 79.50 discounts its Q4 March 2008 annualised EPS of Rs 6.98, by a PE multiple of 11.39.
Gateway Distriparks’ net profit rose 1.4% to Rs 20.17 crore on 27.5% increase in net sales to Rs 45.41 crore in Q4 March 2008 over Q4 March 2007.
Gateway Distriparks is mainly into container handling business.
BASF India gains on hike in open offer price
BASF India rose 3.29% to Rs 285.75 on BSE at 10:59 IST after its founder BASF SE revised the price for the ongoing open offer to Rs 300 a share from the earlier price of Rs 274.
The stock hit a high of Rs 297.50 and a low of Rs 285 so far during the day. The stock had a 52-week high of Rs 344 on
The company’s current equity is Rs 28.19 crore. Face value per share is Rs 10.
The current market price of Rs 285.75 discounts its Q4 March 2008 annualised EPS of Rs 6.26, by a
PE multiple of 45.64.
BASF SE has made an offer to buy up to 62.9 crore shares, or 22.3% of the equity capital of the Indian unit. The offer opened on
BASF India's net profit rose 20.2% to Rs 4.41 crore on 20.3% rise in sales to Rs 193.36 crore in Q4 March 2008 over Q4 March 2007.
BASF India's principal activity is to manufacture expandable polystyrene (used as packing or insulation), leather auxiliaries, finishing agents, pesticides and tanning agents.
HDFC spurts as chairman denies stake sale by Citigroup
Housing Development Finance Corporation rose 5.49% to Rs 1815 after the firm's chairman Deepak Parekh denied rumors that Citigroup may sell its 11.74% stake in HDFC to Oman Investment Corporation.
On BSE, 73,033 shares were traded in the counter. The scrip had an average daily volume of 1.36 lakh shares in the past one quarter.
The stock hit a high of Rs 1841.50 and a low of Rs 1780 so far during the day. The stock had a 52-week high of Rs 3257 on 9 January 2008 and had a 52-week low of Rs 1690 on 16 August 2007.
The company has an equity capital of Rs 284.21 crore. Face value per share is Rs 10.
The current price of Rs 1815 discounts its Q1 June 2008 annualised EPS of Rs 65.88, by a PE multiple of 27.55.
Recent media reports had suggested Citigroup was considering selling its stake in Housing Development Finance Corporation (HDFC) as part of a plan to dispose of assets worth $400 billion to shore up its capital after losses piled up from subprime mortgages and other risky debt. The US bank last week sold its German consumer-banking unit to France's Credit Mutuel Group for close to $8 billion.
Currently Citigroup holds 11.74% stake in HDFC, while private equity firm Carlyle Group holds 5.37% stake. Post the sub-prime crisis, rumours have abound about Citi selling off its stake in HDFC. At current market valuations, the HDFC stake could be worth between Rs 5500 crore and Rs 6000 crore. Citigroup bought less than 10% of HDFC in mid 2006 for about Rs 2900 crore and subsequently added to its stake.
HDFC reported 25.56% rise in net profit to Rs 468.11 crore on a 26.67% increase in total income to Rs 2318.62 in Q1 June 2008 over Q1 June 2007. The results were declared during market hours on Wednesday, 16 July 2008.
The company provides housing loans to individuals, corporates and developers.
On BSE, 73,033 shares were traded in the counter. The scrip had an average daily volume of 1.36 lakh shares in the past one quarter.
The stock hit a high of Rs 1841.50 and a low of Rs 1780 so far during the day. The stock had a 52-week high of Rs 3257 on 9 January 2008 and had a 52-week low of Rs 1690 on 16 August 2007.
The company has an equity capital of Rs 284.21 crore. Face value per share is Rs 10.
The current price of Rs 1815 discounts its Q1 June 2008 annualised EPS of Rs 65.88, by a PE multiple of 27.55.
Recent media reports had suggested Citigroup was considering selling its stake in Housing Development Finance Corporation (HDFC) as part of a plan to dispose of assets worth $400 billion to shore up its capital after losses piled up from subprime mortgages and other risky debt. The US bank last week sold its German consumer-banking unit to France's Credit Mutuel Group for close to $8 billion.
Currently Citigroup holds 11.74% stake in HDFC, while private equity firm Carlyle Group holds 5.37% stake. Post the sub-prime crisis, rumours have abound about Citi selling off its stake in HDFC. At current market valuations, the HDFC stake could be worth between Rs 5500 crore and Rs 6000 crore. Citigroup bought less than 10% of HDFC in mid 2006 for about Rs 2900 crore and subsequently added to its stake.
HDFC reported 25.56% rise in net profit to Rs 468.11 crore on a 26.67% increase in total income to Rs 2318.62 in Q1 June 2008 over Q1 June 2007. The results were declared during market hours on Wednesday, 16 July 2008.
The company provides housing loans to individuals, corporates and developers.
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