15 Sep, 2008, 1923 hrs IST, ET Bureau
MUMBAI: Gold prices spurted by Rs 195 per ten grams to end at Rs 11,610 on the bullion market here today on fresh demand from stockists in view of festival season on the back of positive global cues and a weak trend in equity market.
Gold prices climbed more than two per cent in London after Lehman Brothers filed for bankruptcy protection, which spurred buying of gold as a safe haven from risk and knocking the dollar to a two-month low against the Yen.
However, the precious metals retreated from highs as oil prices slipped and selling of gold held by exchange-traded funds dented investor confidence.
Spot gold was quoted at USD 772.90/774.10 an ounce, up by USD 9.45 from Friday's nominal close in New York, but off session high of USD 784.90.
Gold and silver prices in Singapore jumped more than two per cent, with bullion gaining for a second day as Lehman Brothers' bankruptcy and anxiety over the stability of US financial markets spurred a rush toward safety.
Gold rose two per cent or USD 14.85 an ounce to USD 778.30 from Friday's close in New York.
Weak equity market also boosted gold prices, as some of the investors shifted their funds in gold as a safe-haven investment, a dealer said.
In the domestic market, standard gold (99.5 purity) rose by Rs 195 per ten grams to end at Rs 11,610 from Rs 11,415 and pure gold (99.9 purity) also shot up to Rs 11,680 from Rs 11,480.
However, silver ready (.999 fineness) dropped by Rs 75 per kilo to Rs 19,045 from Rs 19,120.
via: E.T
Monday, September 15, 2008
Tera Software softens
Tera Software fell 6.80% to Rs 37 at 14:03 IST on BSE, after the company said its consortium with GNG Trading has signed a pact with the secretary, Government of Himachal Pradesh to establish 2070 common services centres in Shimla and Mandi.
The company made this announcement during trading hours today, 15 September 2008.
The stock hit a high of Rs 39.50 and a low of Rs 35 so far during the day. The stock has a 52-week high of Rs 119.90 on 3 January 2008 and a 52-week low of Rs 35 on 21 July 2008.
The company’s current equity is Rs 11.51. Face value per share is Rs 10.
The current price of Rs 37 discounts Q1 June 2008 annualized EPS of Rs 8.22, by a PE multiple of 4.50.
These centers would provide various online services under one roof. The company will render these services for the next four years. The total expected revenue is Rs 60 crore.
Tera Software’ net profit fell 17.89% to Rs 2.57 crore on 6.66% increase in net sales to Rs 16.65 crore in Q1 June 2008 over Q4 March 2008.
The company provides information technology enabled services (ITES). It also provides integrated solutions, technical division, project division and software development services to customers globally operating. The company operates in four segments, namely, projects division, technical division, integrated division and others.
The company made this announcement during trading hours today, 15 September 2008.
The stock hit a high of Rs 39.50 and a low of Rs 35 so far during the day. The stock has a 52-week high of Rs 119.90 on 3 January 2008 and a 52-week low of Rs 35 on 21 July 2008.
The company’s current equity is Rs 11.51. Face value per share is Rs 10.
The current price of Rs 37 discounts Q1 June 2008 annualized EPS of Rs 8.22, by a PE multiple of 4.50.
These centers would provide various online services under one roof. The company will render these services for the next four years. The total expected revenue is Rs 60 crore.
Tera Software’ net profit fell 17.89% to Rs 2.57 crore on 6.66% increase in net sales to Rs 16.65 crore in Q1 June 2008 over Q4 March 2008.
The company provides information technology enabled services (ITES). It also provides integrated solutions, technical division, project division and software development services to customers globally operating. The company operates in four segments, namely, projects division, technical division, integrated division and others.
Bombay Burmah locked at lower circuit
Bombay Burmah Trading Corporation was locked at 5% lower limit at Rs 404.30 at 11:47 IST on BSE, following reports the company plans to raise $200 million from international markets.
The stock hit a high of Rs 420 and a low of Rs 404.30 so far during the day. The stock has a 52-week high of Rs 1050 on 8 May 2008 and a 52-week low of Rs 267 on 9 July 2008.
The company’s current equity is Rs 13.96. Face value per share is Rs 10.
As per recent reports, the funds will be used to finance its acquisition of Groupe Danone’s stake in Britannia Industries. Bombay Burmah is in talks with some foreign bank for the transaction. The company is likely to pay at least Libor-plus 500 basis points for the loan, reports added. Libor is the rate at which banks lend to each other.
Bombay Burmah Trading Corporation reported a net loss of Rs 9.44 crore in Q1 June 2008 as compared to net profit of Rs 3.28 crore in Q1 June 2008 over Q1 June 2007. Net sales rose 32% to Rs 68.78 crore in Q1 June 2008 over Q1 June 2007.
Bombay Burmah is part of the Nusli Wadia Group. The company has major interest in tea/coffee plantation, though it has diversified in other streams like laminated products (Sunmika), springs, weighing products, dental products, ophthalmic products, and orthopedic products.
The stock hit a high of Rs 420 and a low of Rs 404.30 so far during the day. The stock has a 52-week high of Rs 1050 on 8 May 2008 and a 52-week low of Rs 267 on 9 July 2008.
The company’s current equity is Rs 13.96. Face value per share is Rs 10.
As per recent reports, the funds will be used to finance its acquisition of Groupe Danone’s stake in Britannia Industries. Bombay Burmah is in talks with some foreign bank for the transaction. The company is likely to pay at least Libor-plus 500 basis points for the loan, reports added. Libor is the rate at which banks lend to each other.
Bombay Burmah Trading Corporation reported a net loss of Rs 9.44 crore in Q1 June 2008 as compared to net profit of Rs 3.28 crore in Q1 June 2008 over Q1 June 2007. Net sales rose 32% to Rs 68.78 crore in Q1 June 2008 over Q1 June 2007.
Bombay Burmah is part of the Nusli Wadia Group. The company has major interest in tea/coffee plantation, though it has diversified in other streams like laminated products (Sunmika), springs, weighing products, dental products, ophthalmic products, and orthopedic products.
Oil & gas stocks slide on likely special oil tax
Oil & gas stocks tumbled sharply on reports the government may impose a special oil tax on the domestic crude oil production under the New Exploration Licensing Policy.
Essar Oil (down 9.06% at Rs 168.55), Cairn India (down 8.87% at Rs 202), and Reliance Industries (down 4.47% at Rs 1,845), were the top private sector oil firms that slumped.
India's largest state-run oil explorer by market capitalisation ONGC slipped 5.47% at Rs 966.90.
According to reports, the proposed tax is supposed to kick-in after price of domestically-produced crude oil crosses the $75/barrel mark. While public sector oil producers like ONGC and Oil India would have to fork out to the government 100% of additional realisation beyond the cut-off price, private companies like Reliance Industries (RIL), Essar Oil and Cairn India would be required to pay 40% of their windfall gains.
The BSE Oil & Gas index underperformed the Sensex in last one month till 12 September, falling 12.70% as against Sensex's 7.96% fall. The BSE Oil & Gas index also underperformed the Sensex in past three months declining 8.61% as against Sensex's 8.19% fall.
Essar Oil (down 9.06% at Rs 168.55), Cairn India (down 8.87% at Rs 202), and Reliance Industries (down 4.47% at Rs 1,845), were the top private sector oil firms that slumped.
India's largest state-run oil explorer by market capitalisation ONGC slipped 5.47% at Rs 966.90.
According to reports, the proposed tax is supposed to kick-in after price of domestically-produced crude oil crosses the $75/barrel mark. While public sector oil producers like ONGC and Oil India would have to fork out to the government 100% of additional realisation beyond the cut-off price, private companies like Reliance Industries (RIL), Essar Oil and Cairn India would be required to pay 40% of their windfall gains.
The BSE Oil & Gas index underperformed the Sensex in last one month till 12 September, falling 12.70% as against Sensex's 7.96% fall. The BSE Oil & Gas index also underperformed the Sensex in past three months declining 8.61% as against Sensex's 8.19% fall.
Titagarh Wagons slips
Titagarh Wagons slipped 5.69% to Rs 670 at 10:52 IST on BSE, after the company said on Monday, 15 September 2008, it would acquire the entire ownership and management control of a non-banking financial company.
The company made this announcement before trading hours today, 15 September 2008.
The stock hit a high of Rs 689.05 and a low of Rs 669 so far during the day. The stock has a 52-week high of Rs 907.90 on 2 May 2008 and a 52-week low of Rs 502 on 2 July 2008.
The company’s current equity is Rs 18.44. Face value per share is Rs 10.
The current price of Rs 670 discounts Q1 June 2008 annualized EPS of Rs 52.21, by a PE multiple of 12.83.
Titagarh Wagons also said it plans to set up a joint venture to revive Cimmco Birla (CBL). Titagarh has also set up a unit in Singapore, it said.
Titagarh Wagons reported a net profit of Rs 24.07 crore from net sales of Rs 229.69 crore in Q1 June 2008. Figures of the previous corresponding year period were not available.
Titagarh Wagons is a leading private sector wagon manufacturer in India. It manufactures railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.
The company made this announcement before trading hours today, 15 September 2008.
The stock hit a high of Rs 689.05 and a low of Rs 669 so far during the day. The stock has a 52-week high of Rs 907.90 on 2 May 2008 and a 52-week low of Rs 502 on 2 July 2008.
The company’s current equity is Rs 18.44. Face value per share is Rs 10.
The current price of Rs 670 discounts Q1 June 2008 annualized EPS of Rs 52.21, by a PE multiple of 12.83.
Titagarh Wagons also said it plans to set up a joint venture to revive Cimmco Birla (CBL). Titagarh has also set up a unit in Singapore, it said.
Titagarh Wagons reported a net profit of Rs 24.07 crore from net sales of Rs 229.69 crore in Q1 June 2008. Figures of the previous corresponding year period were not available.
Titagarh Wagons is a leading private sector wagon manufacturer in India. It manufactures railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.
US PANGS INDIA BLEEDS!!!! MKTS DOWN 850 POINTS CLOSED 470 POINTS DOWN
15 September 2008
US investment bank Lehman Brothers filed for bankruptcy protection, making it the largest and highest-profile casualty of the global credit crisis. Nonetheless, news that China's central bank has cut interest rates helped the domestic bourses cut steep intra-day losses. Despite the recovery, the market ended the day with heavy losses, with the BSE Sensex tumbling 469.54 points.
Fears of more foreign fund withdrawals weighed heavily on the Indian bourses today, 15 September 2008, after US investment bank Lehman Brothers filed for bankruptcy protection. The financial sector upheaval also involved other US institutions. Bank of America has agreed to acquire Merrill Lynch & Co for $50 billion in an all-stock deal that will give the US bank the world's largest brokerage.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 15 September 2008, sold shares worth a net Rs 763.02 crore. Domestic funds bought shares worth a massive Rs 1,328.14 crore.
Shares of firms with substantial holding by Lehman Brothers as a foreign institutional investor including its holdings in sub-accounts, tumbled. GTC Industries (down 10.95% to Rs 111), KPIT Cummins Infosystems (down 11.83% to Rs 49.60), Orbit Corporation (down 10.69% to Rs 246), Development Credit Bank (down 11.02% to Rs 42.80), IVRCL Infrastructures (down 7.11% to Rs 257.50), Edelweiss Capital (down 6.67% to Rs 484), Moser Bear (down 5.72% to Rs 100.50), Triveni Engineering (down 7.11% to Rs 80.30), and NIIT (down 4.78% to Rs 75.75), plunged.
US light crude for October 2008 delivery fell $1.52 to $99.66 a barrel today, 15 September 2008 on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure, although traders were cautious on Monday as they awaited status reports on more Texas refineries.
US investment bank Lehman Brothers filed for bankruptcy protection, making it the largest and highest-profile casualty of the global credit crisis. Nonetheless, news that China's central bank has cut interest rates helped the domestic bourses cut steep intra-day losses. Despite the recovery, the market ended the day with heavy losses, with the BSE Sensex tumbling 469.54 points.
Fears of more foreign fund withdrawals weighed heavily on the Indian bourses today, 15 September 2008, after US investment bank Lehman Brothers filed for bankruptcy protection. The financial sector upheaval also involved other US institutions. Bank of America has agreed to acquire Merrill Lynch & Co for $50 billion in an all-stock deal that will give the US bank the world's largest brokerage.
As per provisional data released by the stock exchanges after trading hours, foreign funds today, 15 September 2008, sold shares worth a net Rs 763.02 crore. Domestic funds bought shares worth a massive Rs 1,328.14 crore.
Shares of firms with substantial holding by Lehman Brothers as a foreign institutional investor including its holdings in sub-accounts, tumbled. GTC Industries (down 10.95% to Rs 111), KPIT Cummins Infosystems (down 11.83% to Rs 49.60), Orbit Corporation (down 10.69% to Rs 246), Development Credit Bank (down 11.02% to Rs 42.80), IVRCL Infrastructures (down 7.11% to Rs 257.50), Edelweiss Capital (down 6.67% to Rs 484), Moser Bear (down 5.72% to Rs 100.50), Triveni Engineering (down 7.11% to Rs 80.30), and NIIT (down 4.78% to Rs 75.75), plunged.
US light crude for October 2008 delivery fell $1.52 to $99.66 a barrel today, 15 September 2008 on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure, although traders were cautious on Monday as they awaited status reports on more Texas refineries.
Saturday, September 13, 2008
TIL to market Hyster range of products
TIL to market Hyster range of products
KOLKATA: TIL, a leader in mobile cranes in India, has recently forged a partnership with Hyster of the U.S. From September, TIL’s offering would include Hyster’s range of high-capacity forklift trucks, empty and laden container handlers and reachstackers. This distribution, taken up by TIL, is for India, Nepal and Bhutan. — Special Correspondent
HINDU, Saturday, Sep 13, 2008
KOLKATA: TIL, a leader in mobile cranes in India, has recently forged a partnership with Hyster of the U.S. From September, TIL’s offering would include Hyster’s range of high-capacity forklift trucks, empty and laden container handlers and reachstackers. This distribution, taken up by TIL, is for India, Nepal and Bhutan. — Special Correspondent
HINDU, Saturday, Sep 13, 2008
IFGL sets up synthetic bone graft blocks unit
IFGL sets up synthetic bone graft blocks unit
KOLKATA: IFGL Refractories has set up a facility to produce bone graft blocks and granules at its unit near Rourkela in Orissa. The bio ceramics facility has been set up with technical tie-up from the Central Glass and Ceramic Research Institute here. A company release said that although these products are synthetic they are both bio compatible and bio-active as the porous and crystalline structure provides osteo conductivity and re-absorbility. Indian Patents Application has been filed for the BioGraft Dental Granules. — Special Correspondent
HINDU. Thursday, Aug 28, 2008
KOLKATA: IFGL Refractories has set up a facility to produce bone graft blocks and granules at its unit near Rourkela in Orissa. The bio ceramics facility has been set up with technical tie-up from the Central Glass and Ceramic Research Institute here. A company release said that although these products are synthetic they are both bio compatible and bio-active as the porous and crystalline structure provides osteo conductivity and re-absorbility. Indian Patents Application has been filed for the BioGraft Dental Granules. — Special Correspondent
HINDU. Thursday, Aug 28, 2008
Cairn India Overseas investment plan
Cairn India gained 1.96% to Rs 224 at 14:27 IST on BSE after the company said its wholly owned subsidiary Cairn Lanka will invest $133 million on oil and natural gas exploration in the Mannar Basin off the north western coast of Sri Lanka.
The company made this announcement at the fag end of the day’s trading session on Thursday, 11 September 2008, when the stock fell 2.05% to Rs 219.70
The stock hit a high of Rs 225.80 and a low of Rs 222.75 so far during the day.
The company’s current equity is Rs 1894.43. Face value per share is Rs 10.
On 7 July 2008, Cairn India signed the agreement with the government of Sri Lanka for the exploration of oil and natural gas in the Mannar basin.
Cairn India reported a net loss of Rs 46.68 crore in Q2 June 2008 against net loss of Rs Rs 7.57 crore in Q2 June 2007. Sales rose 169.4% to Rs 0.97 crore in Q2 June 2008 over Q2 June 2007.
Cairn India explores and produces crude oil and natural gas in India.
The company made this announcement at the fag end of the day’s trading session on Thursday, 11 September 2008, when the stock fell 2.05% to Rs 219.70
The stock hit a high of Rs 225.80 and a low of Rs 222.75 so far during the day.
The company’s current equity is Rs 1894.43. Face value per share is Rs 10.
On 7 July 2008, Cairn India signed the agreement with the government of Sri Lanka for the exploration of oil and natural gas in the Mannar basin.
Cairn India reported a net loss of Rs 46.68 crore in Q2 June 2008 against net loss of Rs Rs 7.57 crore in Q2 June 2007. Sales rose 169.4% to Rs 0.97 crore in Q2 June 2008 over Q2 June 2007.
Cairn India explores and produces crude oil and natural gas in India.
Balmer Lawrie & Company drops ex-dividend
Balmer Lawrie & Company slumped 5.21% to Rs 398.50 at 11:48 IST on BSE after the stock today, 12 September 2008, turned ex-dividend for a dividend of Rs 17 per share.
Dividend yield works out 4.04% based on yesterday's closing price of Rs 420.40. Dividend is tax free in the hands of shareholders.
The stock hit a high of Rs 412 and a low of Rs 398.50 so far during the day. The stock has a 52-week high of Rs 809 on 19 November 2007 and a 52-week low of Rs 338 on 18 March 2008.
The company’s current equity is Rs 16.29. Face value per share is Rs 10.
The current price of Rs 398.50 discounts Q1 June 2008 annualized EPS of Rs 59.32, by a PE multiple of 6.71.
Balmer Lawrie and Company manufactures industrial packaging, barrels and drums, LPG cylinders, greases and lubricants, leather chemicals, functional additives and marine freight containers.
The company’s net profit rose 19.10% to Rs 24.16 crore on 18% increase in net sales to Rs 422.38 crore in Q1 June 2008 over Q1 June 2007
Dividend yield works out 4.04% based on yesterday's closing price of Rs 420.40. Dividend is tax free in the hands of shareholders.
The stock hit a high of Rs 412 and a low of Rs 398.50 so far during the day. The stock has a 52-week high of Rs 809 on 19 November 2007 and a 52-week low of Rs 338 on 18 March 2008.
The company’s current equity is Rs 16.29. Face value per share is Rs 10.
The current price of Rs 398.50 discounts Q1 June 2008 annualized EPS of Rs 59.32, by a PE multiple of 6.71.
Balmer Lawrie and Company manufactures industrial packaging, barrels and drums, LPG cylinders, greases and lubricants, leather chemicals, functional additives and marine freight containers.
The company’s net profit rose 19.10% to Rs 24.16 crore on 18% increase in net sales to Rs 422.38 crore in Q1 June 2008 over Q1 June 2007
Apollo Tyres strengthens
Apollo Tyres rose 1.96% to Rs 39 at 11:44 IST on BSE, on reports HDFC Standard Life Insurance has acquired an additional 0.62% stake in the company.
The stock hit a high of Rs 40 and a low of Rs 38.20 so far during the day. The stock has a 52-week high of Rs 62.90 on 2 January 2008 and a 52-week low of Rs 27.75 on 2 July 2008.
The company’s current equity is Rs 50.40. Face value per share is Rs 1.
The current price of Rs 39 discounts Q1 June 2008 annualized EPS of Rs 3.86, by a PE multiple of 10.23.
After this acquisition, HDFC Standard Life Insurance’s holding has gone up to 5.04% in the company.
Apollo Tyres’ net profit rose 4% to Rs 48.63 crore on 23.1% increase in net sales to Rs 1075.86 crore in Q1 June 2008 over Q1 June 2007.
Apollo Tyres has four manufacturing units in India, two in South Africa and two in Zimbabwe.
The stock hit a high of Rs 40 and a low of Rs 38.20 so far during the day. The stock has a 52-week high of Rs 62.90 on 2 January 2008 and a 52-week low of Rs 27.75 on 2 July 2008.
The company’s current equity is Rs 50.40. Face value per share is Rs 1.
The current price of Rs 39 discounts Q1 June 2008 annualized EPS of Rs 3.86, by a PE multiple of 10.23.
After this acquisition, HDFC Standard Life Insurance’s holding has gone up to 5.04% in the company.
Apollo Tyres’ net profit rose 4% to Rs 48.63 crore on 23.1% increase in net sales to Rs 1075.86 crore in Q1 June 2008 over Q1 June 2007.
Apollo Tyres has four manufacturing units in India, two in South Africa and two in Zimbabwe.
Ramco Systems changes rights issue terms
CHENNAI: Ramco Systems has informed the bourses that it had effected a change in its proposed rights issue ratio and the premium. The shares will be issued at a premium of Rs. 75 per share of Rs. 10 each instead of a premium of Rs. 65 per share fixed earlier and the ratio will be one share for every equity share held instead of three shares for every two held announced earlier. The company also proposes to issue detachable
M&M plans to transfer logistics business to subsidiary
Mahindra & Mahindra rose 0.67% to Rs 567.05 at 10:16 IST on BSE, after the company said on Thursday, 11 September 2008, it has decided to transfer logistics business to its subsidiary Mahindra Logistics for Rs 32 crore.
The company made this announcement after trading hours on Thursday, 11 September 2008.
The stock hit a high of Rs 570 and a low of Rs 565 so far during the day. The stock has a 52-week high of Rs 872 on 1 January 2007 and a 52-week low of Rs 430 on 1 July 2008.
The company’s current equity is Rs 245.74. Face value per share is Rs 10.
The current price of Rs 567.05 discounts Q1 June 2008 annualized EPS of Rs 26.60, by a PE multiple of 21.32.
In May 2008, the company raised its vehicle prices in the range of 1.5% to 2.5% due to rise in input costs.
M&M’s net profit fell 16.7% to Rs 159.30 crore on 26.1% increase in net sales to Rs 3293.45 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and distributing automobiles and farm equipment.
The company made this announcement after trading hours on Thursday, 11 September 2008.
The stock hit a high of Rs 570 and a low of Rs 565 so far during the day. The stock has a 52-week high of Rs 872 on 1 January 2007 and a 52-week low of Rs 430 on 1 July 2008.
The company’s current equity is Rs 245.74. Face value per share is Rs 10.
The current price of Rs 567.05 discounts Q1 June 2008 annualized EPS of Rs 26.60, by a PE multiple of 21.32.
In May 2008, the company raised its vehicle prices in the range of 1.5% to 2.5% due to rise in input costs.
M&M’s net profit fell 16.7% to Rs 159.30 crore on 26.1% increase in net sales to Rs 3293.45 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and distributing automobiles and farm equipment.
Thursday, September 11, 2008
Shares of Ansal firms fall as brothers in custody
Shares of Ansal firms fall as brothers in custody
11 Sep, 2008, 1720 hrs IST, IANS
NEW DELHI: As brothers Sushil and Gopal Ansal were taken into custody here on Thursday for what is known as the capital's Uphaar cinema fire tragedy case, the shares of their respective listed companies fell on the bourses.
The Ansals, a well known name in the realty industry, mainly in New Delhi and satellite towns, have three listed companies. Of these, Sushil controls Ansal Properties and Infrastructure, while his younger brother Gopal oversees Ansal Buildwell.
The third listed company in their family - Ansal Housing and Construction - is led by their youngest sibling Deepak.
A special court of the Central Bureau of Investigation (CBI) sent Sushil and Gopal Ansal to judicial custody till their bail appeal is heard on their conviction for lapses that led to the June 1997 Uphaar cinema fire tragedy.
Fifty-nine people, including 22 children, had died and over 100 were injured in the fire at the cinema hall in south Delhi.
The original Ansals properties group was founded by their father Chiranji Lal in 1967 but has since been split into three separate companies. Insiders say that the Uphaar Cinema tragedy of 1997 led to the three-way split in the group.
Ansal Properties and Infrastructure is the largest among the three companies with Rs.100 billion worth of projects at hand and a declared land asset of 7,000 acres.
The company has under its wings some well know projects like Ansal Plaza, among the capital's first mall, and townships like Sushant Lok and Pioneer industrial park.
Ansal Buildwell, on the other hand, has a comparatively lower profile, with projects like the Akashdeep Building in the capital's central business district, Ansal City in Amritsar in Punjab, and Ansals Riverdale in Kochi.
Data with the BSE showed that Ansal Properties fell 6.35 percent Thursday at Rs.93.60. The scrip had seen a 52-week high of Rs.469.
Ansal Buildwell, on the other hand fell 4.84 percent at Rs.44.20. The scrip saw a 52-week high of Rs.147.
"Even though both the companies are managed by family members of the Ansal brothers, the court directive does cause some worry over their future management," said an analyst, giving the reasons for the fall in the Ansal group scrips.
via:E.T
11 Sep, 2008, 1720 hrs IST, IANS
NEW DELHI: As brothers Sushil and Gopal Ansal were taken into custody here on Thursday for what is known as the capital's Uphaar cinema fire tragedy case, the shares of their respective listed companies fell on the bourses.
The Ansals, a well known name in the realty industry, mainly in New Delhi and satellite towns, have three listed companies. Of these, Sushil controls Ansal Properties and Infrastructure, while his younger brother Gopal oversees Ansal Buildwell.
The third listed company in their family - Ansal Housing and Construction - is led by their youngest sibling Deepak.
A special court of the Central Bureau of Investigation (CBI) sent Sushil and Gopal Ansal to judicial custody till their bail appeal is heard on their conviction for lapses that led to the June 1997 Uphaar cinema fire tragedy.
Fifty-nine people, including 22 children, had died and over 100 were injured in the fire at the cinema hall in south Delhi.
The original Ansals properties group was founded by their father Chiranji Lal in 1967 but has since been split into three separate companies. Insiders say that the Uphaar Cinema tragedy of 1997 led to the three-way split in the group.
Ansal Properties and Infrastructure is the largest among the three companies with Rs.100 billion worth of projects at hand and a declared land asset of 7,000 acres.
The company has under its wings some well know projects like Ansal Plaza, among the capital's first mall, and townships like Sushant Lok and Pioneer industrial park.
Ansal Buildwell, on the other hand, has a comparatively lower profile, with projects like the Akashdeep Building in the capital's central business district, Ansal City in Amritsar in Punjab, and Ansals Riverdale in Kochi.
Data with the BSE showed that Ansal Properties fell 6.35 percent Thursday at Rs.93.60. The scrip had seen a 52-week high of Rs.469.
Ansal Buildwell, on the other hand fell 4.84 percent at Rs.44.20. The scrip saw a 52-week high of Rs.147.
"Even though both the companies are managed by family members of the Ansal brothers, the court directive does cause some worry over their future management," said an analyst, giving the reasons for the fall in the Ansal group scrips.
via:E.T
Sesa Goa slides on buzz of increase in export duty
Sesa Goa lost 4.33% to Rs 136 at 13:17 IST on BSE on reports the steel ministry has recommended an additional 5% duty on iron ore exports over the present level of 15% in a bid to arrest rising domestic steel prices and meet local demand first.
The stock had lost 3.63% to Rs 142.15 on Wednesday, 10 September 2008 when the reports first hit the market.
The stock hit a high of Rs 140.50 and a low of Rs 135.55 so far during the day. The stock had hit a 52-week high of Rs 219.50 on 5 May 2008 and a 52-week low of Rs 100 on 21 January 2008.
The company has an equity capital of Rs 78.72 crore. Face value per share is Re 1.
The current price of Rs 136 discounts its Q1 June 2008 annualised EPS of Rs 32.76, by a PE multiple of 4.15.
Iron ore is the basic raw material for producing steel and accounts for almost 25% of the cost of steel-making.
Sesa Goa reported 442.4% surge in net profit to Rs 644.72 on 180.3% increase in net sales to Rs 1273.04 crore in Q1 June 2008 over Q1 June 2007.
Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports besides. It is also into the manufacture of pig iron and metallurgical coke.
The stock had lost 3.63% to Rs 142.15 on Wednesday, 10 September 2008 when the reports first hit the market.
The stock hit a high of Rs 140.50 and a low of Rs 135.55 so far during the day. The stock had hit a 52-week high of Rs 219.50 on 5 May 2008 and a 52-week low of Rs 100 on 21 January 2008.
The company has an equity capital of Rs 78.72 crore. Face value per share is Re 1.
The current price of Rs 136 discounts its Q1 June 2008 annualised EPS of Rs 32.76, by a PE multiple of 4.15.
Iron ore is the basic raw material for producing steel and accounts for almost 25% of the cost of steel-making.
Sesa Goa reported 442.4% surge in net profit to Rs 644.72 on 180.3% increase in net sales to Rs 1273.04 crore in Q1 June 2008 over Q1 June 2007.
Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports besides. It is also into the manufacture of pig iron and metallurgical coke.
Raj Television Network Plans fund raising via PE route
Raj Television Network jumped 9.29% to Rs 107.05 at 11:19 IST on BSE on reports the company is looking to raise funds from private equity firms.
The stock hit a high of Rs 114 and a low of Rs 100 so far during the day. The stock has a 52-week high of Rs 254.65 on 11 September 2007 and a 52-week low of Rs 85.60 on 2 July 2008.
The company’s current equity is Rs 12.98 crore. Face value per share is Rs 10.
The current price of Rs 107.05 discounts its Q1 June 2008 annualized EPS of Rs 17.26, by a PE multiple of 6.20.
As per reports, Raj Television Network (RTNL) plans to enter the print business and is open to acquiring an existing Tamil-based newspaper.
The company is looking to raise Rs 50-100 crore from private equity firms by diluting its 5-10% stake. The funds will be used to build a studio, office complex and for film production business. Promoters hold 72.48% stake in the company (as at end June 2008).
RTNL recently entered the film production business and is producing three movies, including one set to be released by end-October 2008. Initially, the company will start with low budget movies.
RTNL is an established television broadcasting company in south India. It has the largest movie database in Tamil Nadu owning rights for Tamil films ranging from old classics to recent blockbuster films.
The company reported 7.90% rise in net profit to Rs 5.60 crore on 15.70% rise in net sales to Rs 17.50 crore in Q1 June 2008 over Q1 June 2007.
The stock hit a high of Rs 114 and a low of Rs 100 so far during the day. The stock has a 52-week high of Rs 254.65 on 11 September 2007 and a 52-week low of Rs 85.60 on 2 July 2008.
The company’s current equity is Rs 12.98 crore. Face value per share is Rs 10.
The current price of Rs 107.05 discounts its Q1 June 2008 annualized EPS of Rs 17.26, by a PE multiple of 6.20.
As per reports, Raj Television Network (RTNL) plans to enter the print business and is open to acquiring an existing Tamil-based newspaper.
The company is looking to raise Rs 50-100 crore from private equity firms by diluting its 5-10% stake. The funds will be used to build a studio, office complex and for film production business. Promoters hold 72.48% stake in the company (as at end June 2008).
RTNL recently entered the film production business and is producing three movies, including one set to be released by end-October 2008. Initially, the company will start with low budget movies.
RTNL is an established television broadcasting company in south India. It has the largest movie database in Tamil Nadu owning rights for Tamil films ranging from old classics to recent blockbuster films.
The company reported 7.90% rise in net profit to Rs 5.60 crore on 15.70% rise in net sales to Rs 17.50 crore in Q1 June 2008 over Q1 June 2007.
Gujarat NRE Coke surges on rights issue plan
Gujarat NRE Coke surged 3.25% to Rs 82.50 at 10:28 IST on BSE, after the company said on Wednesday, 10 September 2008, its board will meet on 17 September 2008 to consider issue of equity shares on rights basis, with differential voting rights
The company made this announcement after trading hours on Wednesday, 10 September 2008.
The stock hit a high of Rs 84.30 and a low of Rs 78.05 so far during the day. The stock has a 52-week high of Rs 181 on 27 February 2008 and a 52-week low of Rs 68.20 on 11 September 2007.
The company’s current equity is Rs 337.09. Face value per share is Rs 10.
The current price of Rs 82.50 discounts Q1 June 2008 annualized EPS of Rs 11.20, by a PE multiple of 7.37.
The rights issue will be in the proportion of one differential voting rights (DVR) share for every 300 existing equity shares at the price of Rs 1000 per share (inclusive of a premium of Rs 990 per share).
Gujarat NRE Coke’s net profit surged 120.5% to Rs 94.40 crore on 153.60% increase in net sales to Rs 377.64 crore in Q1 June 2008 over Q1 June 2007.
The company is the largest independent producer of low ash metallurgical coke in the country. It manufactures low ash metallurgical coke for the steel industry, soda ash plants, zinc smelters and foundries.
The company made this announcement after trading hours on Wednesday, 10 September 2008.
The stock hit a high of Rs 84.30 and a low of Rs 78.05 so far during the day. The stock has a 52-week high of Rs 181 on 27 February 2008 and a 52-week low of Rs 68.20 on 11 September 2007.
The company’s current equity is Rs 337.09. Face value per share is Rs 10.
The current price of Rs 82.50 discounts Q1 June 2008 annualized EPS of Rs 11.20, by a PE multiple of 7.37.
The rights issue will be in the proportion of one differential voting rights (DVR) share for every 300 existing equity shares at the price of Rs 1000 per share (inclusive of a premium of Rs 990 per share).
Gujarat NRE Coke’s net profit surged 120.5% to Rs 94.40 crore on 153.60% increase in net sales to Rs 377.64 crore in Q1 June 2008 over Q1 June 2007.
The company is the largest independent producer of low ash metallurgical coke in the country. It manufactures low ash metallurgical coke for the steel industry, soda ash plants, zinc smelters and foundries.
Market drops 334.88 points for the third day in a row
Stocks ended with losses for a third consecutive day on Thursday weighed down by weak global markets and depreciating rupee. Traders unwound their positions across the board, with the oil & gas and power sector being hit the hardest.
Bombay Stock Exchange's Sensex settled at 14,327.73, down 334.88 points or 2.28 per cent. The index slumped to an intra-day low of 14,265.38 after opening at 14,557.33.
National Stock Exchange's Nifty ended 2.55 per cent or 112.3 points lower at 4287.95. The index swung between a high of 4399.30 and low of 4272.75.
Midcaps and smallcaps also faced the brunt of the bear onslaught. The BSE Midcap and Smallcap indices were down 1.08 per cent and 1.12 per cent.
Bharti Airtel (-4.48%), Reliance Infrastructure (-4.3%), Reliance Industries (-4.15%), ONGC (-3.85%) and Tata Power (-3.54%) were the worst hit.
Tata Motors (1.42%) and Ranbaxy Laboratories (0.24%) were the only gainers in the 30-share index.
Market breadth turned extremely weak with 1773 declines against 864 advances on BSE.
Bombay Stock Exchange's Sensex settled at 14,327.73, down 334.88 points or 2.28 per cent. The index slumped to an intra-day low of 14,265.38 after opening at 14,557.33.
National Stock Exchange's Nifty ended 2.55 per cent or 112.3 points lower at 4287.95. The index swung between a high of 4399.30 and low of 4272.75.
Midcaps and smallcaps also faced the brunt of the bear onslaught. The BSE Midcap and Smallcap indices were down 1.08 per cent and 1.12 per cent.
Bharti Airtel (-4.48%), Reliance Infrastructure (-4.3%), Reliance Industries (-4.15%), ONGC (-3.85%) and Tata Power (-3.54%) were the worst hit.
Tata Motors (1.42%) and Ranbaxy Laboratories (0.24%) were the only gainers in the 30-share index.
Market breadth turned extremely weak with 1773 declines against 864 advances on BSE.
Wednesday, September 10, 2008
What is the Big Bang?
10 Sep, 2008, 1058 hrs IST, REUTERS
The European Organisation for Nuclear Research, known as CERN, will on Wednesday begin an experiment to recreate conditions just after the Big Bang, which scientists believe gave birth to the universe.
Its Large Hadron Collider (LHC) will seek to collide two beams of particles at close to the speed of light. Scientists plan to circulate a beam in one direction around the accelerator on Sept. 10, and later send beams both ways to cause collisions. Following are some facts about the Big Bang and CERN's particle-smashing experiment:
RECREATING THE BIG BANG:
The final tests involved pumping a single bunch of energy particles from the project's accelerator into the 27-km (17-mile) beam pipe of the collider and steering them counter- clockwise around it for about 3 km (2 miles).
The collider aims to simulate conditions milliseconds after the "Big Bang" which created the universe around 13.7 billion years ago.
The collisions, in which both particle clusters will be travelling at the speed of light, will be monitored on computers at CERN and laboratories around the world by scientists looking for, among other things, a particle that made life possible.
The elusive particle, which has been dubbed the "Higgs Boson" after Scottish physicist Peter Higgs who first postulated nearly 50 years ago that it must exist, is thought to be the mysterious factor that holds matter together.
WHAT IS THE BIG BANG?
Recreating a "Big Bang," which most scientists believe is the only explanation of an expanding universe, ought to show how stars and planets came together out of the primeval chaos that followed, the CERN team believes.
Its essential feature is the emergence of the universe from a tiny speck about the size of a coin but in a state of extremely high temperature and density.
The name "Big Bang" was coined in 1949 by British scientist Fred Hoyle to disparage a then emerging theory about origins that countered his own "steady state" view: that the universe had always existed and was evolving but not expanding.
According to the Big-Bang model, the universe expanded rapidly from a highly compressed primordial state, which resulted in a significant decrease in density and temperature. Soon afterward, the dominance of matter over antimatter (as observed today) may have been established by processes that also predict proton decay. During this stage many types of elementary particles may have been present. After a few seconds, the universe cooled enough to allow the formation of certain nuclei.
The theory predicts that definite amounts of hydrogen, helium, and lithium were produced. Their abundances agree with what is observed today. About 1,000,000 years later the universe was sufficiently cool for atoms to form.
WHAT IS CERN:
CERN, the European Organisation for Nuclear Research, is one of the world's largest and most respected centres for scientific research. Its business is fundamental physics, finding out what the Universe is made of and how it works.
Founded in 1954, the CERN Laboratory sits astride the Franco-Swiss border near Geneva. It was one of Europe's first joint ventures and now has 20 Member States, plus 6 actively participant observers including the United States and Russia.
The European Organisation for Nuclear Research, known as CERN, will on Wednesday begin an experiment to recreate conditions just after the Big Bang, which scientists believe gave birth to the universe.
Its Large Hadron Collider (LHC) will seek to collide two beams of particles at close to the speed of light. Scientists plan to circulate a beam in one direction around the accelerator on Sept. 10, and later send beams both ways to cause collisions. Following are some facts about the Big Bang and CERN's particle-smashing experiment:
RECREATING THE BIG BANG:
The final tests involved pumping a single bunch of energy particles from the project's accelerator into the 27-km (17-mile) beam pipe of the collider and steering them counter- clockwise around it for about 3 km (2 miles).
The collider aims to simulate conditions milliseconds after the "Big Bang" which created the universe around 13.7 billion years ago.
The collisions, in which both particle clusters will be travelling at the speed of light, will be monitored on computers at CERN and laboratories around the world by scientists looking for, among other things, a particle that made life possible.
The elusive particle, which has been dubbed the "Higgs Boson" after Scottish physicist Peter Higgs who first postulated nearly 50 years ago that it must exist, is thought to be the mysterious factor that holds matter together.
WHAT IS THE BIG BANG?
Recreating a "Big Bang," which most scientists believe is the only explanation of an expanding universe, ought to show how stars and planets came together out of the primeval chaos that followed, the CERN team believes.
Its essential feature is the emergence of the universe from a tiny speck about the size of a coin but in a state of extremely high temperature and density.
The name "Big Bang" was coined in 1949 by British scientist Fred Hoyle to disparage a then emerging theory about origins that countered his own "steady state" view: that the universe had always existed and was evolving but not expanding.
According to the Big-Bang model, the universe expanded rapidly from a highly compressed primordial state, which resulted in a significant decrease in density and temperature. Soon afterward, the dominance of matter over antimatter (as observed today) may have been established by processes that also predict proton decay. During this stage many types of elementary particles may have been present. After a few seconds, the universe cooled enough to allow the formation of certain nuclei.
The theory predicts that definite amounts of hydrogen, helium, and lithium were produced. Their abundances agree with what is observed today. About 1,000,000 years later the universe was sufficiently cool for atoms to form.
WHAT IS CERN:
CERN, the European Organisation for Nuclear Research, is one of the world's largest and most respected centres for scientific research. Its business is fundamental physics, finding out what the Universe is made of and how it works.
Founded in 1954, the CERN Laboratory sits astride the Franco-Swiss border near Geneva. It was one of Europe's first joint ventures and now has 20 Member States, plus 6 actively participant observers including the United States and Russia.
Declining silver prices encourage physical buying
10 Sep, 2008, 1818 hrs IST,Devangi Joshi, ECONOMICTIMES
MUMBAI: While a decline in gold prices continue to attract traders' attention, silver, the most preferred precious metal after gold, has lost more than 30 per cent over the past three months. Silver futures on Multi Commodity Exchange (MCX) are trading below Rs 20,000 per kg, having fallen more than Rs 5,000 since June. The slump has increased demand for the white metal on the physical market.
Internationally, prices have shed more than $3 per ounce (31.10 gms) at $11.13 as reflected by the benchmark December contract on COMEX (a division of New York Mercantile Exchange). Comex gold futures, on the other hand, have declined by nearly 13 per cent over the three months since June.
A rising dollar with falling crude oil prices has reduced gold's appeal as a hedge against inflation in turn affecting silver, which, though more volatile, tracks the yellow metal. The dollar index, which measures the greenback against a basket of six currencies including euro, yen and Swiss franc, has appreciated 9% to 77.38 over the same period.
Sentiment in silver has been beaten down further by sluggishness across the base metals complex. Besides being a precious metal, silver also has significant use as an industrial commodity. Around two-thirds of silver fabrication finds its way to the photographic and industry sectors.
Even as the negative sentiment continues to put downward pressure on prices, a fall towards Rs.18000 - 17500 per kg is seen as a good buying opportunity. " For the shorter term we see prices trading in a Rs. 18,000 -20,000 range. Both these levels could present opportunities to go either long (buy) or short (sell) the metal," said Kishor Narne, research head, Anand Rathi Commodities.
"With such a deep plunge in prices, physical demand for silver is seen outperforming that for gold," said Suresh Hundia, president, Bombay Bullion Association. According to him, for Jan-July 2008, nearly 56 tonnes of silver were imported. However, for August, imports more than doubled to 116 tonnes. " Considering the demand, we expect nearly 300 tonnes of silver imports in the month of September," he said.
According to Mr. Narne " Silver is not entirely seen as either a precious or a base metal. Due to the popularity of digital technology, silver's usage in the photography industry is experiencing a steady decline. On the other hand, industrial usage of gold is on a rise with an increase in its use in making of telecom equipment and semiconductors."
Unlike gold, which attracts long-term investment being perceived as an alternate currency, investment in silver is more speculative in nature.
MUMBAI: While a decline in gold prices continue to attract traders' attention, silver, the most preferred precious metal after gold, has lost more than 30 per cent over the past three months. Silver futures on Multi Commodity Exchange (MCX) are trading below Rs 20,000 per kg, having fallen more than Rs 5,000 since June. The slump has increased demand for the white metal on the physical market.
Internationally, prices have shed more than $3 per ounce (31.10 gms) at $11.13 as reflected by the benchmark December contract on COMEX (a division of New York Mercantile Exchange). Comex gold futures, on the other hand, have declined by nearly 13 per cent over the three months since June.
A rising dollar with falling crude oil prices has reduced gold's appeal as a hedge against inflation in turn affecting silver, which, though more volatile, tracks the yellow metal. The dollar index, which measures the greenback against a basket of six currencies including euro, yen and Swiss franc, has appreciated 9% to 77.38 over the same period.
Sentiment in silver has been beaten down further by sluggishness across the base metals complex. Besides being a precious metal, silver also has significant use as an industrial commodity. Around two-thirds of silver fabrication finds its way to the photographic and industry sectors.
Even as the negative sentiment continues to put downward pressure on prices, a fall towards Rs.18000 - 17500 per kg is seen as a good buying opportunity. " For the shorter term we see prices trading in a Rs. 18,000 -20,000 range. Both these levels could present opportunities to go either long (buy) or short (sell) the metal," said Kishor Narne, research head, Anand Rathi Commodities.
"With such a deep plunge in prices, physical demand for silver is seen outperforming that for gold," said Suresh Hundia, president, Bombay Bullion Association. According to him, for Jan-July 2008, nearly 56 tonnes of silver were imported. However, for August, imports more than doubled to 116 tonnes. " Considering the demand, we expect nearly 300 tonnes of silver imports in the month of September," he said.
According to Mr. Narne " Silver is not entirely seen as either a precious or a base metal. Due to the popularity of digital technology, silver's usage in the photography industry is experiencing a steady decline. On the other hand, industrial usage of gold is on a rise with an increase in its use in making of telecom equipment and semiconductors."
Unlike gold, which attracts long-term investment being perceived as an alternate currency, investment in silver is more speculative in nature.
SEL Manufacturing recovers
SEL Manufacturing Company was down 0.13% to Rs 235 at 13:00 IST on BSE, having recovered from the session’s low of Rs 228.20, after the company said it would set up a technical textile park in Himachal Pradesh.
The company made this announcement during trading hours today, 10 September 2008.
The stock hit a high of Rs 239.70 and a low of Rs 228.20 so far during the day. The stock has a 52-week high of Rs 757 on 5 August 2008 and a 52-week low of Rs 76.65 on 22 October 2007.
The company’s current equity is Rs 17.17. Face value per share is Rs 10.
The current price of Rs 235 discounts Q1 June 2008 annualized EPS of Rs 46.06, by a PE multiple of 5.10.
The project would be one shop solution for entire manufacturing process for the technical textile products which include hygiene products like wipes, diapers, sanitary napkins, panty shields and surgical clothing i.e. gloves, masks, gowns.
The project will be set up with an overall investment of about Rs 500 crore. The project would cover an area of 100 acres of land and is expected to generate employment for approximately 10000 people.
In April 2008, the company’s board approved Rs 611.67-crore expansion project for setting up technical textile facility in Punjab. The company would set up a facility to manufacture technical textiles having a capacity of 90 tonnes per day (tpd).
SEL Manufacturing Company’s net profit surged 215.3% to Rs 19.14 crore on 209.2% increase in net sales to Rs 176.87 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures and exports knitted garments, fabrics and combed and carded yarn.
The company made this announcement during trading hours today, 10 September 2008.
The stock hit a high of Rs 239.70 and a low of Rs 228.20 so far during the day. The stock has a 52-week high of Rs 757 on 5 August 2008 and a 52-week low of Rs 76.65 on 22 October 2007.
The company’s current equity is Rs 17.17. Face value per share is Rs 10.
The current price of Rs 235 discounts Q1 June 2008 annualized EPS of Rs 46.06, by a PE multiple of 5.10.
The project would be one shop solution for entire manufacturing process for the technical textile products which include hygiene products like wipes, diapers, sanitary napkins, panty shields and surgical clothing i.e. gloves, masks, gowns.
The project will be set up with an overall investment of about Rs 500 crore. The project would cover an area of 100 acres of land and is expected to generate employment for approximately 10000 people.
In April 2008, the company’s board approved Rs 611.67-crore expansion project for setting up technical textile facility in Punjab. The company would set up a facility to manufacture technical textiles having a capacity of 90 tonnes per day (tpd).
SEL Manufacturing Company’s net profit surged 215.3% to Rs 19.14 crore on 209.2% increase in net sales to Rs 176.87 crore in Q1 June 2008 over Q1 June 2007.
The company manufactures and exports knitted garments, fabrics and combed and carded yarn.
Maithan Alloys shines on expansion plan
Maithan Alloys shines on expansion plan
Maithan Alloys rose 2.15% to Rs 289.30 at 13:06 IST on BSE after the company's board approved a proposal to invest in its subsidiary company for setting up a ferro alloys manufacturing unit in Andhra Pradesh.
The company announced this during market hours today, 10 September 2008.
The stock hit a high of Rs 293.25 and a low of Rs 283.40 so far during the day. The stock hit a 52-week high of Rs 2,230 on 14 May 2008 and a 52-week low of Rs 177.80 on 30 June 2008.
The company’s current equity is Rs 9.71. Face value per share is Rs 10.
The current price of Rs 289.30 discounts Q1 June 2008 annualized EPS of Rs 129.52, by a PE multiple of 2.23.
The ferro alloy manufacturing facility will be set up with an estimated project cost of Rs 275 crore. The board of the company has also approved the divestment of company's shareholding in Purbanchal Cement. Also, the board has decided to form another subsidiary to take up mines & minerals business.
Maithan Alloys' net profit surged 365.1% to Rs 31.44 crore on 245.6% rise in sales to Rs 206.44 crore in Q1 June 2008 over Q1 June 2007.
Maithan Alloys specializes in ferro alloy and silicons.
Maithan Alloys rose 2.15% to Rs 289.30 at 13:06 IST on BSE after the company's board approved a proposal to invest in its subsidiary company for setting up a ferro alloys manufacturing unit in Andhra Pradesh.
The company announced this during market hours today, 10 September 2008.
The stock hit a high of Rs 293.25 and a low of Rs 283.40 so far during the day. The stock hit a 52-week high of Rs 2,230 on 14 May 2008 and a 52-week low of Rs 177.80 on 30 June 2008.
The company’s current equity is Rs 9.71. Face value per share is Rs 10.
The current price of Rs 289.30 discounts Q1 June 2008 annualized EPS of Rs 129.52, by a PE multiple of 2.23.
The ferro alloy manufacturing facility will be set up with an estimated project cost of Rs 275 crore. The board of the company has also approved the divestment of company's shareholding in Purbanchal Cement. Also, the board has decided to form another subsidiary to take up mines & minerals business.
Maithan Alloys' net profit surged 365.1% to Rs 31.44 crore on 245.6% rise in sales to Rs 206.44 crore in Q1 June 2008 over Q1 June 2007.
Maithan Alloys specializes in ferro alloy and silicons.
Nava Bharat Ventures plans overseas power plant projects
Nava Bharat Ventures rose 0.91% to Rs 249.95 at 12:12 IST on BSE, on reports the company plans overseas power plant projects.
The stock hit a high of Rs 250.40 and a low of Rs 245.55 so far during the day. The stock has a 52-week high of Rs 351.80 on 7 January 2008 and a 52-week low of Rs 166 on 10 March 2008.
The company’s current equity is Rs 15.58. Face value per share is Rs 2.
The current price of Rs 249.95 discounts Q1 June 2008 annualized EPS of Rs 65.21, by a PE multiple of 6.79.
As per reports, company has placed bids to build a coal-fired power plant called for by the Zambian government. The company is among the 10 shortlisted entities that include India’s largest zinc and copper producer Vedanta Resources Inc. and South Africa’s Londoloza Resources, reports added.
Nava Bharat Ventures’ net profit surged 118.9% to Rs 126.91 crore on 67.3% increase in net sales to Rs 290.48 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and selling of ferro alloys. The group operates through three segments: ferro alloys, power and sugar. The group also provides infrastructure projects.
The stock hit a high of Rs 250.40 and a low of Rs 245.55 so far during the day. The stock has a 52-week high of Rs 351.80 on 7 January 2008 and a 52-week low of Rs 166 on 10 March 2008.
The company’s current equity is Rs 15.58. Face value per share is Rs 2.
The current price of Rs 249.95 discounts Q1 June 2008 annualized EPS of Rs 65.21, by a PE multiple of 6.79.
As per reports, company has placed bids to build a coal-fired power plant called for by the Zambian government. The company is among the 10 shortlisted entities that include India’s largest zinc and copper producer Vedanta Resources Inc. and South Africa’s Londoloza Resources, reports added.
Nava Bharat Ventures’ net profit surged 118.9% to Rs 126.91 crore on 67.3% increase in net sales to Rs 290.48 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing and selling of ferro alloys. The group operates through three segments: ferro alloys, power and sugar. The group also provides infrastructure projects.
Era Infra Engineering in demand
Era Infra Engineering rose 1.57% to Rs 484.85 at 11:31 IST on BSE after the company announced book closure for the purpose of 5-for-1 stock split.
The stock hit a high of Rs 485 and a low of Rs 461 so far during the day. The stock hit a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 410 on 26 August 2008.
From a recent low of Rs 445.40 hit on 1 September 2008, the stock has jumped 8.85%
The company’s current equity is Rs 23.1. Face value per share is Rs 10.
The current price of Rs 816 discounts Q1 June 2008 annualized EPS of Rs 49.18, by a PE multiple of 9.74.
The company said the books of the company will remain closed from 24 September 2008 to 29 September 208 (both days inclusive) for the purpose of stock split as well as for dividend payment
Era Infra Engineering’s net profit fell 14.3% to Rs 28.40 crore on 57.7% increase in net sales to Rs 390.93 crore in Q1 June 2008 over Q1 June 2007.
Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.
The stock hit a high of Rs 485 and a low of Rs 461 so far during the day. The stock hit a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 410 on 26 August 2008.
From a recent low of Rs 445.40 hit on 1 September 2008, the stock has jumped 8.85%
The company’s current equity is Rs 23.1. Face value per share is Rs 10.
The current price of Rs 816 discounts Q1 June 2008 annualized EPS of Rs 49.18, by a PE multiple of 9.74.
The company said the books of the company will remain closed from 24 September 2008 to 29 September 208 (both days inclusive) for the purpose of stock split as well as for dividend payment
Era Infra Engineering’s net profit fell 14.3% to Rs 28.40 crore on 57.7% increase in net sales to Rs 390.93 crore in Q1 June 2008 over Q1 June 2007.
Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.
Madras Cements setting record date for bonus, stock-split
Madras Cements gained 3.36% to Rs 2600 at 10:59 IST on BSE, after the company said on Tuesday, 9 September 2008, its board has fixed 10 October 2008 as the record date for 1:1 bonus issue and 10-for-1 stock split.
The company fixed the record date after trading hours on Tuesday, 9 September 2008.
The stock hit a high of Rs 2600 and a low of Rs 2500 so far during the day. The stock has a 52-week high of Rs 5039.85 on 31 October 2007 and a 52-week low of Rs 2301 on 9 June 2008.
The company’s current equity is Rs 11.90. Face value per share is Rs 10.
The current price of Rs 2600 discounts Q1 June 2008 annualized EPS of Rs 383.09, by a PE multiple of 6.79.
Madras Cements’ net profit rose 13.3% to Rs 113.97 crore on 31% growth in net sales to Rs 614.97 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing cements. The product includes blended cement, ready-mix concrete and dry mortar mix. The company also generates power from windmills.
The company fixed the record date after trading hours on Tuesday, 9 September 2008.
The stock hit a high of Rs 2600 and a low of Rs 2500 so far during the day. The stock has a 52-week high of Rs 5039.85 on 31 October 2007 and a 52-week low of Rs 2301 on 9 June 2008.
The company’s current equity is Rs 11.90. Face value per share is Rs 10.
The current price of Rs 2600 discounts Q1 June 2008 annualized EPS of Rs 383.09, by a PE multiple of 6.79.
Madras Cements’ net profit rose 13.3% to Rs 113.97 crore on 31% growth in net sales to Rs 614.97 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing cements. The product includes blended cement, ready-mix concrete and dry mortar mix. The company also generates power from windmills.
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