Headlines - The Economic Times

Reliance eyeing acquisition, rural push

Idea Cellular's PAT rises to Rs 502.06 cr during FY07

India, Russia likely to sign N-cooperation pact

Airtel chooses Israeli firm for IPTV services
Reliance Trends store plans a century in 3 years
TMB to become clearing banker for MCX
Satyam first non-US company to win prestigious ASTD award
UK-based Cookson makes open offer for 20% in Foseco India
Microsoft signs agreement with IISc for research collaboration
Reliance to restart crude distillation unit in 7-10 days
Hyundai offers up to Rs 40k discount during festive season

Motilal Oswal launches new fund to cash in on booming economy
RBI to review monetary policy on Oct 30
Bharti-Wal-Mart to train small retailers
Railways invites EoIs for agri-retail shops
IIM students head for management firms
Gitanjali close to buying another US gem for $100 mn

Dishman earmarks $50 mn for acquisitions in US, Europe
FM comments pull market down by 2%
Goldman Sachs offloads 2.33% in IFCI
FM favours 6-10 multi-product SEZs
Advanta India signs MoU with Team, Calsa
SBI Life launches group insurance scheme
LG Balakrishnan to spin off forging unit

Infosys chases mega deals above $100 mn range
School education in India more expensive than university: UNESCO
Speculators driving Sensex, things should cool: FM


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Corporate Stories

MoneyControl.Com

Mukesh Ambani details Reliance's growth plans at AGM
Koutons sees FY09 sales at Rs 1,200 cr
To continue to grow at 35-40%: Omnitec..
H2 growth rate may not match H1: Exide
Reliance on an expansion drive
Bharati Shipyard bags SCI order

CCCL may see Rs 200 plus premium

CLSA sees Sensex at 40K going forward
Bajaj Auto hopes to produce, sell 75,000 XCDs per month
Patel Engg to build 100 MW hydro project in AP: Sources
Mastek announces share buyback of up to Rs 65 crore
Gitanjali close to buy US jewellery retailer, stock rises

Omnitech PAT jumps 92% on the back of JV with Sanwell
RIL plans to invest $4 bn in hydrocarbons
JP Morgan betting big on Indian realty
Nokia Siemens bags BSNL rural contract
Govt approves Reliance's gas price from KG-D6 fields


Rediff.Com

McCann chief pictures India as export hub
Inflation slips to 3.26% :
Manufacturing, power pushes IIP to 10.7%
RIL is in acquisition mode, says Mukesh
How to make money in stocks


Myiris.Com

Unity bags orders worth Rs 2.25 bn in Delhi & Thane
Result Analysis: Mold-Tek net rises 65.9% for Sep `07 qtr 17
Result analysis: Himalya Intl Q2 net jumps 91.27%
United Spirits plans Rs 350 mn plant in WB
Bank credit up 21.9%
VLS Finance net jumps 5.63 times in Sep`07 qtr
Punj Lloyd bags Rs 3.9 bn order from Qatar Petroleum
Allcargo Global to acquire a unit of TFSPL
IIP rises 10.7% in Aug`07
RIL to invest USD 8-9 bn in Jamnagar
Rajesh Exports bags order worth Rs 7.43 bn
IFC buys 12.5% in Angel Broking for Rs 1.50 bn


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Result Updates

HDFC Bank net jumps 40% in Sep`07 qtr (Update)

H D F C Bank registered a 40.14% growth in net profits to Rs 3,684.80 million for the quarter ended September 2007 from a profit of Rs 2,629.40 million for the quarter ended September 2006Interest earned for the quarter rose 44.45% to Rs 23,627.60 million for the quarter ended September 2007 from Rs 16,356.60 million for the quarter ended September 2006.Total income rose 39.92%, to Rs 28,451.4 million for the quarter ended September 2007, from Rs 20,333.7 million for the quarter ended September 2006.

The company reported a basic EPS (after extraordinary items) of Rs 10.60
Shares of the bank declined Rs 20.65, or 1.42%, to trade at Rs 1,435.8. The total volume of shares traded was 53,955 at the BSE.(1.47 p.m,Friday).


Other Result Updates:

Exide Industries net jumps 42.29% in Sep`07 qtr
Exide Industries, a leading producer of storage batteries, announced 42.30% growth in net profit after tax at Rs 622.40 million for the quarter ended September 2007 as compared to Rs 437.40 million for the quarter ended September 2006. Net sales registered a 48% growth at Rs 6,677.50 million for the quarter, as compared to Rs 4,511.90 million a year ago.Total Income increased to Rs 6,682.90 million for the quarter ended September 2007 from Rs 4,535.80 million for the quarter ended September 2006 .Exide Industries Earnings per share (EPS) for the quarter stood at Rs 0.83.

Abhishek Industries net down 42.05% in Sep`07 qtr
Abhishek Industries registered a steep drop of 42.05% in net profit of Rs 76.20 million for the quarter ended September 2007 as compared with Rs 131.50 million for the corresponding quarter, last year.

Mastek Q2 consolidated net rises 18.55%
Leading software maker, Mastek (Q, N,C,F)* reported a rise of 18.55% in consolidated net profit for the quarter ended September 2007. During the quarter, the company saw a rise in consolidated net profit to Rs 251.20 million from Rs 211.90 million in the same quarter last year.Consolidated total income for the quarter climbed 6.32% to Rs 2,114.90 million compared with the corresponding quarter, a year ago.

Tata Metaliks net up 2.75 times in Sep`07 qtr
Tata Metaliks on standalone basis registered a 2.75 times growth in net profit to Rs 128.50 million for the quarter ended September 2007 as compared with Rs 46.70 million for the corresponding quarter last year. Net sales for the quarter rose 43.86% to Rs 2,384.50 million for the quarter ended September 2007 as compared with Rs 1,657.50 million for the same quarter last year.Total income for the quarter rose 43.39% to Rs 2,418.7 million as against Rs 1,686.8 million for the same quarter last fiscal.

Aban Offshore net rises 2.13 times for Sep `07 qtr
Aban Offshore, provider oil field services for offshore exploration and production of hydrocarbons to the oil industry in India and abroad, disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2.13 times to Rs 472.13 million from Rs 221.38 million in the same quarter last year.

Omnitech Info posts Rs 53.93 mn profit in Sep`07
Omnitech Infosolutions registered a net profit of Rs 53.93 million in September 2007.Net sales for the quarter was 280.37 million and total Income stood at 281.53 million. Equity shares of Omnitech InfoSolutions were listed for trading at the bourses, on Aug. 14, 2007. The shares will be a part of the B1 group of securities on BSE. The issue price was fixed at Rs 105 a share.
Shares of the company closed down Rs 1.20, or 0.85% at Rs 140.05. The total volume of shares traded at the BSE was 163,527. (Friday).

Geojit Financial net rises 2.88 times for Sep `07 qtr
Geojit Financial Services, provider of financial services, reported a phenomenal jump in net profits for the quarter ended September 2007. During the quarter, the company`s net profit went up 2.88 times to Rs 104.90 million from Rs 36.40 million in the same quarter last year.Total income rose 192% to Rs 437.50 million for the quarter ended September 2007 from Rs 226.80 million for the same period last year.The diluted EPS after extraordinary items stood at Rs 0.49 for the quarter ended September 2007.

Rallis India net rises 2.34 times in Sep `07 qtr
Rallis India, a member of Tata Group, reported a phenomenal jump in net profit for the quarter ended n September 2007. During the quarter, the company`s net profit went up 2.34 times to Rs 1,018.80 million from Rs 434.60 million in the same quarter last year.Net sales for the quarter rose 16.55% to Rs 2,467.70 million compared with Rs 2,117.20 million in the corresponding quarter, a year ago. Total income rose 25.68% to Rs 3,344 million for the quarter ended September 2007 from Rs 2,660.60 million for the same period last year.The EPS increased 2.40 times to Rs 83.39 for the quarter ended September 2007 from Rs 34.68 for the same quarter last year.



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Koutons Retail ends with 41% premium

It was a phenomenal day for Koutons Retail India, which debuted on the bourses as per expectations and remained bouyant through the day. It has opened at Rs 515 and touched a high of Rs 649 in the morning trade on the BSE.

It witnessed some profit booking around Rs 600 levels but did not slip below Rs 575. Market was trading in red during the day but that has not much impacted on the stock.

The stock rose 40.72% to end at Rs 584, with volumes of 81,49,741 shares. it has hit a high/low of Rs 620 and Rs 502.50. The turnover was Rs 483 crore on the NSE.

On the BSE, it opened at Rs 510.05. The share closed at Rs 590.45, with volumes of 41,67,052 shares.

Visit: Koutons Retail ends with 41% premium


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Sensex sheds 395 pts at close

Nifty 5428.25 -96.60

Sensex 18419.04 -395.03

The Sensex, which nosedived to 18,336 during the final hour of trade, settled at 18,419.04 with a huge loss of 395.03 points or 2.1%. The Nifty, which swung in a range of around 147 points - it hit a high of 5549.30 and a low of 5402.60 in intra-day trades today - closed with a loss of 1.75% or 96.60 points.

Due to widespread selling during the last couple of hours, the market breadth turned quite weak. Out of 2801 stocks traded on BSE today, 1689 stocks ended in the negative territory. 1053 stocks closed with gains and 59 stocks settled at their previous closing levels.
The mood turned so bearish this afternoon that only four stocks, Reliance Energy (2.45%), ONGC (2.4%), Mahindra & Mahindra (1.8%) and Hindalco (1.75%), among the Sensex components ended on a positive note.

State Bank of India lost as much as 4.2% today. Larsen & Toubro (down 3.6%), Tata Motors (down 3.4%), ICICI Bank (down 3.35%), BHEL (down 3.3%), Cipla (down 3.3%) and Reliance Communications (down 3.1%) closed with sharp losses.

Bajaj Auto, Bharti Airtel, Reliance Industries, Infosys Technologies, Dr. Reddy's Laboratories, ITC, NTPC, Satyam Computer Services and HDFC lost 2% - 3%. Maruti Udyog and Hindustan Unilever eased by nearly 2% as they settled at Rs 1096.80 and Rs 221.40 respectively.
Ambuja Cements (down 1.8%), HDFC Bank (down 1.75%), Grasim Industries (down 1.4%), Tata Consultancy Services (down 0.8%) and ACC (down 0.75%) also closed with sharp losses.

Wipro, Tata Steel and Ranbaxy Laboratories ended marginally down from their previous closing levels.

Nifty stocks Suzlon Energy, Tata Power, VSNL, Hindustan Petroleum Corporation, Nalco, ABB, Reliance Petroleum, Siemens, GlaxoSmithKline Pharma, Sterlite Industries and MTNL ended sharply lower. Zee Entertainment, Unitech, SAIL and HCL Technologies also finished on a weak note. GAIL India ended nearly a per cent up.

Further, Visit : Bulls take a break, Sensex sheds 395 pts

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Day's Quote/Corporate Story

Quote of the Day

" The difference between good and great is just a little extra effort."

Personality / Corporate of the Day

Kumar Mangalam Birla

Kumar Mangalam Birla (June 14, 1967), is among the richest persons in India and the eighth youngest billionaire outside India according to the Fortune magazine.
Mr. Kumar Mangalam Birla is the Chairman of the Aditya Birla Group, which is among India's largest business houses. Among its major companies in India are Grasim, Hindalco, UltraTech Cement, Aditya Birla Nuvo and Idea Cellular. Its Joint Ventures include Birla Sun Life (Financial Services) and Birla NGK (Insulators). While Mr. Birla is the Chairman of all of the Group's blue-chip companies in India, he serves as a Director on the Board of the Group's International Companies spanning Thailand, Indonesia, Malaysia, Philippines and Egypt. The Group's operations extend to Canada, China, Laos, USA, U.K. and Australia as well.
As of 6th October 2007, his net worth was estimated at $12.5 billion, making him the 7th richest Indian. [1]

Further, Visit : http://en.wikipedia.org/wiki/Kumar_Mangalam_Birla

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