Economic Times

Cognizant to acquire marketRx for $135 mn
ICICI Bank gets US nod to set up branch in New York
IFCI hikes foreign holding limit to 74 pc
BoB opens subsidiary in Trinidad & Tobago
IDBI Capital eyes stake in commodity trading firms
UTI Mutual Fundbs IPO likely to be in Rs 850-1,050 band
Samsung aims Rs 1,200 cr sales during festival season

Indra Nooyi books apartment in childhood city
Govt approves 8.5% interest rate for EPF deposits
Huge capital inflows pose tough challenge: FM

Bridgestone Corp to invest $11 bn over 5 years
Exxon blocks deal on Kashagan stake

Investors focus on second-rung stocks
Google tops Nielsen's September US search share rankings
Daimler close to signing truck deal for Indian market
2007 best growth period for aviation sector
Geojit Financial launches MFs online
Senior citizens to have more health cover options

SBI mutual plans international opportunities fund
Fixed-term debt fund from HSBC mutual
AMCs want MF buyers to foot distributors' bill
Kotak Life Insurance opens fifth branch in Kerala



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Results Corner

SBT H1 net profit up by 13%

Ultratech Q2 net up 46 pc at Rs 186 crore

Aditya Birla Group company Ultratech Cement on Saturday recorded 46 per cent jump in net profit at Rs 186 crore for the quarter ended September 30 against Rs 127 crore during the same quarter last fiscal.

Geometric Software Q2 net dips 10%

GE Shipping's Q2 net jumps 46%

Great Eastern Shipping on Friday said its second quarter net profit grew 46% to Rs 342.8 crore, due to increased sale of ships.

Kalyani Steels net down 5.28% in Sep`07 qtr

Kalyani Steels disclosed a marginal decline in net profit for the quarter ended September 2007. During the quarter, the company experienced a 5.28% fall in profit to Rs 201.89 million from Rs 213.15 million in the quarter ended September 2006.Net sales for the quarter rose 1.92% to Rs 2,289.39 million compared with Rs 2,246.07 million in the corresponding quarter, a year ago. Total income rose 1.97% to Rs 2,292.63 million for the quarter ended September 2007 from Rs 2,248.20 million for the same period, last year.The basic and diluted EPS, after extraordinary items, fell 8.87% to Rs 4.62 for the quarter ended September 2007 from Rs 5.07 in the quarter ended September 2006

GTL Infra swings to loss in Sep`07 qtr

Greaves Cotton Q2 net falls 3.09%

Welspun India net down 8.36% in Sep`07 qtr

Grindwell Norton net jumps 7.19 times in Sep`07 qtr

Leading abrasive products maker, Grindwell Norton registered a phenomenal rise of 7.19 times in net profit for the quarter ended September 2007, on the back of profit on sale of entire shareholding in Lincoln Hellos (India) to Lincoln for a total consideration of Rs 1 billion. During the quarter, the company saw a rise in net profit to Rs 913 million from Rs 127 million in the same quarter of the previous year. The earnings per share for the quarter jumped 7.20 times to Rs 16.49 compared with the same quarter, a year ago.The net sales for the quarter climbed 6.04% to Rs 1,070 million, while the total income for the quarter rose 8.46% to Rs 1,141 million, when compared with the corresponding quarter, a year ago.

Emco Q2 net climbs 19.29%

Leading power equipments maker, Emco recorded a rise of 19.29% in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 103.56 million, from Rs 86.81 million, in the same quarter of the previous year. The company posted diluted earnings per share of Rs 10.01 in the quarter.Net sales for the quarter climbed 41.14% to Rs 1,841.68 million, compared with the corresponding quarter, a year ago



Results Calender

Aro Granite 20-Oct-07

GNFC 20-Oct-07

India Glycols 20-Oct-07

IT People 20-Oct-07

Kewal Kiran 20-Oct-07

Orient Info 20-Oct-07

Shiva Fert 20-Oct-07

State Bnk Tr 20-Oct-07

Tricom India 20-Oct-07

UltraTechCement 20-Oct-07

Zandu Pharma 20-Oct-07



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Weekly Wrap Up: Sensex plummets 859.06 pts during the week

India`s benchmark index, Sensex ended the week with a huge loss of 859.06 points at 17,559.98, while broad based Nifty lost 212.95 points to close at 5,215.30.

The Sensex hit its lower circuit filter on Wednesday, losing around 1,700 points, the highest ever fall recorded in a day. The gap however, narrowed on the same day, backed by finance minister P Chidambaram`s assuring remarks. Chidambaram said, ``Investors through P Notes are welcome to invest in India but at present it is important to moderate these capital inflows. Therefore, SEBI has proposed some measures to moderate the capital flows.

`` Despite, consoling statements made by SEBI, and the finance minister P Chidambaram, FIIs stuck to their guns and the market again fell on the following two days. On Monday, heavy buying interest in pivotal stocks, strong global cues and buoyant results of the companies led the Sensex to touch a new high of 19,095.75. India`s benchmark index, Sensex, breached the psychological figure of 19,000 mark in the afternoon trades.

The Sensex, after opening strong at 18,525.61, marched ahead like an unbridled horse in the intraday trades, and scaled new highs during the day. The index raced ahead to put all bearish sentiments to rest with almost a 600 point rally. Finally, the index ended the day on a sunny note. The index which breached 18,000, had taken just four session to scale 19,000. It was the second higest intraday surge.The BSE Sensex closed with a hefty gain of 639.63 points, or 3.47%, at 19,058.67, while the broad-based NSE Nifty gained 242.15 points, or 4.46%, to close at 5,670.40.

On Tuesday, the BSE benchmark index, Sensex, opened above 19k, but soon slipped into the negative in the morning trades. Later, the index traded in a lacklustre manner for some part of the day. It touched an intraday high of 19,174.45 and a low of 18,777.75. Finally, it ended on a flat note. Select stocks from banking, cement, pharma and realty gained attention, while IT, auto and metal stocks dropped. The BSE Sensex closed with a marginal loss of 6.81 points, or 0.04%, at 19,051.86, while the broad-based NSE Nifty lost 2.35 points, or 0.04%, to close at 5,668.05.

On Wednesday, the 30-share index, Sensex, opened at 17,307.90. The market re-opened after closing for an hour because of hitting a lower circuit in the opening session of trade.
The negative gap however, narrowed, backed by the finance minister P Chidambaram`s assuring remarks, that FIIs are welcome to India and the move was just a step taken to moderate the flows and that the SEBI had no intentions to curb the flows.The market recovered some ground in the noon trades. It touched an intraday high of 18,841.29 and a low of 17,307.90. Finally, the index closed on a weak note. All sectors traded in negative except IT, which traded in the positive terrain.The BSE Sensex closed with a hefty loss of 336.04 points, or 1.76%, at 18,715.82, while the broad-based NSE Nifty lost 108.75 points, or 1.92%, to close at 5,559.30.On Thursday, the BSE benchmark index, Sensex, opened on a strong note, after yesterday`s turbulence. With a few minutes of trading it touched an intraday high of 19,198.66, giving a sense, that the market has recovered from yesterday`s turmoil.


However, the game turned after mid session, when the market pared all its early morning gains. The BSE Sensex slipped into the negative terrain, on the back of intense selling pressure across the board in index pivotals. It lost more than 1,400 points from its days high and touched a low of 17,771.16. By the close, it recovered little and closed 717.43 points down to near 18,000 mark.The BSE Sensex plummeted 717.43 points, or 3.83%, at 17,998.39, while the broad-based NSE Nifty lost 208.30 points, or 3.75%, to close at 5,351.

On Friday, the BSE benchmark index, opened negative and proceeded to trade weak amidst volatility throughout the day. It was on account of intense selling pressure due to rumors of FIIs unwinding their positions in India, and on negative global cues. Later, in the noon trades, the index recovered from its day`s lows and touched an intraday low of 17,226.18. All sectors traded in negative.The BSE Sensex closed with a hefty loss of 438.41 points, or 2.44%, at 17,559.98, while the broad-based NSE Nifty lost 135.7 points, or 2.54%, to close at 5,215.30.Economy Watch:India`s wholesale price index based Inflation declined to 3.07% for the week ended October 6, from 3.26% in the previous week.

The headline inflation is at its 5-year low since October 2002.Listing:Chennai-based Consolidated Construction Consortium (CCCL), engaged in construction services, after listing on bourses, closed at a premium of 57.06% at the National Stock Exchange (NSE).Chennai-based Dhanus Technologies (DTL), engaged in telecom, IT enabled services and BPO business, after listing on bourses, closed at a premium of 3.83% at the National Stock Exchange (NSE).Supreme Infrastructure India, an infrastructure development company primarily engaged in civil construction activities, after listing on bourses, closed at a premium of 53.80% at the National Stock Exchange (NSE).

Result:Mastek, an IT solutions provider, reported quarter-on-quarter revenue expansion with total income increasing 13% from Rs 1,871 million in the preceding quarter to Rs 2,115 million for the quarter under review, driven by strong contributions from both the European and US operations. On a corresponding quarter basis, the company`s total income was higher by 20% compared to the similar quarter last year (after excluding contributions from the erstwhile Deloitte JV).Jaiprakash Associates reported a growth of 15.56% in net profit for the quarter ended September 2007. During the quarter, the company experienced a rise in profit to Rs 1,040 million from Rs 900 million in the same quarter, last year.

Industrial Development Bank of India (IDBI) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared with Rs 1,394.00 million for the quarter ended September 2006.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.

Reliance Energy on a standalone basis registered a stupendous growth of 34.17% in net profit to Rs 2,500.80 million for the quarter ended September 2007 as compared with Rs 1,863.90 million for the corresponding quarter, last year. Hexaware Technologies, a global provider of IT and process outsourcing services, registered a drop of 22.39% in consolidated net profit for the quarter ended September 2007. During the quarter, the company saw a fall in consolidated net profit to Rs 269.16 million from Rs 346.84 million in the same quarter of the previous year. Ranbaxy Laboratories registered a phenomenal rise of 47.72% in consolidated net profit for the quarter ended September 2007. During the quarter, the company saw a rise in consolidated net profit to Rs 2,074 million from Rs 346.84 million in the same quarter of the previous year. India`s second biggest two wheeler maker,

Bajaj Auto registered a growth of 27.79% in consolidated net profit for the quarter ended September 2007. During the quarter, the company saw a rise in consolidated net profit to Rs 3,664.6 million from Rs 2867.7 million in the same quarter of the previous year. Wipro announced a 17.64% rise in consolidated net profit at Rs 8,237 million for the quarter ended September 2007 as compared with Rs 7,002 million for the quarter ended September 2006.

Further, Visit: www.myiris.com


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Day's Quote/Corporate Story

Quote of the Day

" I look up in the sky at the time of the daytime and I saw stars.... the brightest star that I've seen is ME!

D-determination R-realizationE-excitement A-action M-mission S-success"


Corporate/Personality of the Day

Tulsi Tanti

Tulsi Tanti is the chairman and managing director of Suzlon Energy, the $7 billion worth(market cap) wind power based company. He along with his three siblings owns 70% of the company[1]. Initially he was a textile producer,then moved into wind energy production and founded the Suzlon Energy[2] He is worth $5.9 billion as per Forbes. [1].
As of 6th October 2007, the rise in prices of his shares pushed his net worth to $8.3 billion. [2]


^ http://www.moneyweek.com/file/7295/profile-the-ten-richest-men-in-india.html
^ http://www.forbes.com/lists/2006/10/QD9Q.html

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



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