VC Updates from VCCircle.Com

Pre-IPO Placement: Merrill Lynch Buys 5% In Broking Firm Religare For Rs 62 Crore

India May Receive As Much As $20 Billion In Private Equity By 2010

Fairfax To Raise $4 Billion By June ‘08 For Indian Firms From London’s AIM

QVC Realty Raise $200 Million In Second Round

News Round Up: Blackstone, Satyagriha Project, SCPE

Mumbai’s AK Capital Services Gets Rs 36 Crore From South Africa’s RMB

Ventureast Plans to Raise New Funds Worth $150 Million By March’08

IFC Picks Up 12.5% Stake In Angel Broking For Rs 150 Crore

ItzCash Gets $10 Million From Matrix Partners India, Intel Capital



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Other Top Stories from Leading Sources

MoneyControl.Com

IFCI to issue 40 cr shares as part of restructuring
RPL says project will be complete ahead of deadline
Sterlite Ind may demerge & list Sterlite Energy: Srcs
HDIL to develop 276 acres slum land arnd Mum airport
Sony Pictures plans exclusive deals with Reliance Retail
IFCI giving option for converting debt into equity

Rediff.Com

Sensex: 1,00,000 mark in our life time?
ICICI Venture to float $2 bn real estate fund
Education loans for budding managers
How to make money in stocks
Top 10 ELSS funds: Save tax, make money



Myiris.Com

HCL Tech acquires HCL EAI Services
Abhishek Industries to set up 3,737 mn plant
Shiv Nadar steps down as CEO of HCL Tech
DLF gets LoI for township project in Bidadi
Mercator Lines to enter dredging sector
IOL Chemicals net up 2.69 times in Sep` 07 qtr
Nagreeka Capital net at Rs 25.98 mn in Sep` 07 qtr


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ET - Headlines

India second best destination for FDI in 2007: UNCTAD
Sensex may scale 20,000 in 2-3 days: Analysts
LIC makes hay with every bull shine
India to grow by 10% annually: Lehman
Investors make Rs 2,10,000 cr in a day
India most bullish market; China 2nd: ING Research

Information is the key to SME growth
IDBI Q2 profit at Rs 155 crore
38% global companies asked to pay bribe in India: PwC
IFCI hopes to sell 26% stake in two-and-a-half months
Merrill Lynch invests $55 mn in Vestas RRB

Tatas, IOC, OIL to jointly bid for oil field in Azerbaijan
Wockhardt set to acquire US firm for $70 mn
HDIL in pact with Mumbai airport for slum project
Food Bazaar goes for regional flavour, to double by June'08
Vishal Retail opens four more stores across the country
Future Group forms JV for logistics arm

Berlin-based co wins $43 mn Delhi Metro contract
IMF lauds India's growth, says monetary policy appropriate
Canara Bank reduces interest on personal, vehicle loans
Tata Consultancy to hire 9,000 employees in Q3


HC order may have bearing on Reliance Power's IPO
Merrill buys 5% in Religare before IPO
Varun Industries IPO opens Oct 25; issue price Rs 60/share
Persistent Systems plans 49.74 lakh share IPO

New bikes top TNS consumer satisfaction ratings
BoB ties-up with Franklin Templeton
ICICI Bank top financier with $2.3 bn deals in Asia Pacific
Caterpillar buys 30% in Polyhose India
Motilal Oswal VC Advisors invests Rs 31 cr in RT Outsourcing


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Result Calendar

Results on 17-Oct-2007

Polaris 17-Oct-07

Reliance Energy 17-Oct-07

Gateway Distri 17-Oct-07

ALEMBIC

ALLAHABAD BK

ANS AGRO IND

CHEMFAB ALK

ELEGANT MARB

ESSEL PROPACK

GAIL

INFOTECH ENT

KPIT CUMMI INFOSY

MOREPEN LAB

NDTV LTD.

NELCAST

RIL NAT RES

S BK BIKANER

YES BANK

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Result Updates: HCL Tech, IDBI, Tata Sponge, Blue Dart, Jubliant

HCL Technologies (standalone) net rises 28.34% in Sep `07 qtr

On consolidated basis (as per US GAAP), leading Global Technology and IT enterprise, HCL Technologies reported a rise of 42.06% in net income to USD 77.41 million, for the quarter ended Sep. 30, 2007 as compared to USD 54.49 million, for the quarter ended Sep. 30, 2006.
Total revenue for the quarter rose 42.80% to USD 429.01 million, compared with USD 300.41 million in the corresponding quarter, a year ago.

On standalone basis HCL Technologies disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 28.34% rise in profit to Rs 2,641.70 million, from Rs 2,058.30 million in the corresponding quarter a year ago.
Net sales for the quarter rose 23.68% to Rs 11,028.60 million, compared with Rs 8,916.40 million in the corresponding quarter, a year ago.

Total income rose 24.23% to Rs 11,461.10 million, for the quarter, ended September 2007, from Rs 9,225.20 million for the same period last year.



E T C Networks` net up 3.33 times in Sep` 07 qtr

E T C Networks, registered a 3.33 times growth in net profit to Rs 34.17 million, for the quarter ended September 2007, from a profit of Rs 10.26 million, for the quarter ended September 2006
Net Sales for the quarter rose 41.08% to Rs 134.96 million for the quarter ended September 2007, from Rs 95.66 million for the quarter ended September 2006.
Total income rose 42.86% to Rs 141.72 million for the quarter ended September 2007, from Rs 99.20 million for the quarter ended September 2006.


IDBI Bank net up 11.5% in Sep`07 qtr (update)

Industrial Development Bank of India (IDBI Bank) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared to Rs 1394.00 million for the quarter ended September 2006.
Interest Earned Income rose to Rs 19,010.70 million from Rs 14,486.30 million a year ago.
Total Income rose 44%, to Rs 23,637.20 million for the quarter ended September 2007 where as the same was at Rs 16,412.40 million for the quarter ended September 2006.


Country Club India net jumps 2.15 times for Sep`07 qtr


Hyderabad-based Country Club (Q, N,C,F)* India (CCIL), an operator of chain of clubs, reported a substantial jump of 2.15 times in net profit to Rs 151 million for the quarter ended September 2007 as against Rs 70.25 million for the corresponding quarter last year.
Net sales surged 2.04 times to Rs 668.11 million for the quarter ended September 2007, from Rs 326.27 million for the quarter ended September 2006.


Tata Sponge swings to net profit for Sep `07 qtr

Tata Sponge Iron, engaged in the production of sponge iron, disclosed a phenomenal jump in net profit for the quarter ended in September 2007. During the quarter, the company swung to a net profit of Rs 178.30 million from a loss of Rs 7.40 million in the corresponding quarter a year ago.Net sales for the quarter rose 74.67% to Rs 969.10 million compared with Rs 554.80 million in the corresponding quarter, a year ago. Total income rose 86% to Rs 1,070.30 million for the quarter ended September 2007 from Rs 575.40 million for the same period last year.

Jubilant Organosys Q2 net surges 2.06 times

Jubilant Organosys, an integrated pharmaceutical industry player, registered a phenomenal growth of 2.06 times in net profit for the quarter ended June 2007. The healthy growth in sales and other income coupled with improved operating margins, helped the company post better earnings growth. During the quarter, net profit of the company jumped to Rs 1,117 million from Rs 542 million, in the same quarter last year.Net sales for the quarter climbed 20.65% to Rs 4,930 million, while the total income for the quarter rose 24.26% to Rs 5,240 million, when compared with the corresponding quarter, a year ago. Operating margins improved to 21.93%, during the quarter, a rise of 269 basis points, compared with the corresponding quarter, a year ago.


Blue Dart Express net rises 2 times for Sep `07 qtr

Blue Dart Express disclosed a phenomenal rise in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2 times to Rs 174 million from Rs 87 million in the corresponding quarter a year ago.Net sales for the quarter rose 17.45% to Rs 2,073 million compared with Rs 1,765 million in the corresponding quarter, a year ago. Total income rose 17.49% to Rs 2,082 million for the quarter ended September 2007 from Rs 1,772 million for the same period last year.

Further, Visit: www.myiris.com


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Sensex, Nifty end with marginal losses

Nifty 5668.05 -2.35

Sensex 19051.86 -6.81

Save for a few minutes in early trade, the mood of the participants on the major Indian bourses remained cautious with a negative bias today. Weak global markets and the incredible rally staged by equities yesterday triggered a few rounds of profit taking and though the Sensex managed to bounce back after a sharp setback this afternoon, it still finished the session on a negative note today.

Bank, power and realty stocks had a profitable outing. Information technology majors, with the exception of Satyam Computer Services, struggled for support. Auto and oil stocks regained some lost ground thanks to buying in late afternoon trade. FMCG stocks had a weak run. Capital goods and pharma sectors saw stock specific buying.

While the Sensex, which hit a new high of 19,174.45 but crashed to 18,877.75 in intra-day trades, ended the day at 19,051.86 with a small loss of 6.81 points, the Nifty settled at 5668.05 with a loss of 2.35 points. The NSE benchmark hit a new high of 5708.35 before it plunged to 5578.45 in afternoon trade.

Though they turned a bit easy in mid afternoon trade, stocks from midcap and smallcap segments rebounded smartly during the final hour of trade. Reflecting the interest for stocks in these segments, the BSE Midcap and Smallcap indices closed stronger by 0.85% and 0.47% respectively.

ICICI Bank recorded a handsome gain of 5.5% today. Hindalco moved up by 4.55% to Rs 197.45. Reliance Energy extended its winning run and notched up a sharp gain of 3.1%. Maruti Udyog (2.3%), NTPC (2%), Satyam Computer Services (1.6%) and Reliance Communications (1.1%) also ended on a firm note.

Further, Visit: Sensex, Nifty end with marginal losses


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Day's Quote/Corporate Story

Quote of the Day

" It is not how you begin that matters, but how you finish."

Corporate/Personality of the Day

Kalanidhi Maran

Kalanidhi Maran (1963) is the Chairman and Managing Director of Sun Network which owns television channels (including the Tamil-language channel Sun TV), FM radio stations and newspapers in South India. He is the son of deceased leader Murasoli Maran and the grandnephew of DMK president M Karunanidhi. He is the brother of Dayanidhi Maran, India's ex-Minister for Communications and Information Technology. He got into the business at the age of 27 when satellite broadcasting took off in the early 1990[1] and started his career with freelance video magazine Poomalai in Tamil.
He is recipient of the International Young Business Achiever award in 1999 (from the Worldcom group, New York), Kalanidhi Maran was also among the few representatives at the round table with the visiting U.S. President Bill Clinton.[2] He was india's # 20th richest person ranked by Forbes.[3]

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

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