26 October 2007

Headlines from ET and Moneycontrol

From Economictimes.Com

If you figure in the list of meritorious 1 lakh students, you will get Rs 1 lakh annually for pursuing university education in science stream and the amount may continue up to five years. The government is planning to institute scholarships to encourage education in science and technology. While modalities of selecting meritorious students are yet to be worked out, it is proposed that the future scientists would be caught young in the 12th class itself. The financial assistance would be given to such students while pursuing BSc and MSc courses. “We have proposed to give adequate financial support to sufficient number of students to foster talent in scientific research.

The government is considering to award 1 lakh scholarships of Rs 1 lakh each. Meritorious students pursuing university education in science stream would be eligible for the award. The proposal is expected to be incorporated in the 11th Five-Year Plan, and expected to be announced in the forthcoming National Development Council (NDC) meeting,” a source in the government said.

for more, A lakh scholarships of Rs 1 lakh each

Voltas targets Rs 10,000 crore turnover by FY10
KSS buys 50% in Abhishek Auto; plans to invest $20 m in 3 yrs
Bajaj Auto to drive $3,000 small car project
TVS files Rs 250 cr defamation suit against Bajaj
Protego to raise $400 mn for India office fund

Goldman, Macquarie set to buy 40% in PTC arm for Rs 120 crore
BHEL MoU with TNEB for Rs 8,500 cr power projects
Sun Pharma gets US nod for Novartis' Exelon
BEML bags Rs 1,144 cr order from DMRC
JSW Steel eyes iron ore mine acquisition overseas

HCC bags orders worth Rs 983 cr
IIM-I grads gear up to lure investors
Tata group's Infinity Retail ties-up with Microsoft
SingTel scouting for JV partner
GMR to bid for airport projects in East Europe

Indian annual inflation at 3.07 pc
Inflows putting pressure on rupee, inflation: FM
Microsoft Q1 profit up 23%
Promethean Indian Fund picks 8.57 pc stake in Nitco Tiles
Akruti Nirman to invest Rs 15 bn in Pune


ING Vysya Life collects Rs 112 cr premium
LIC eyes Rs 7,800 cr premium income from group business
IT hits M&A street: 2 deals every 3 days
TCS to set up South African subsidiary Co



From Moneycontrol.Com

Jet Airways to raise $400 m via rights issue

Pratibha Ind’s order book stands at above Rs 2,300 cr

Euro Ceramics post healthy growth in sales & profits for Q2

Emkay Shares targeting 60K retail customers in FY08

Let's wait and see impact of Sebi’s steps: FM

Reliance Energy bags 100 mt coal block in Orissa

Triveni Engineering continue to outperform: Sharma

Religare Enterprises can give handsome returns: Experts



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20 ventures you can start with Rs 5 lakh

Article from http://www.rediff.com/

In 1995, Sabeer Bhatia started Hotmail with his idea - of a free, Internet-based email service that can be accessed anywhere in the world - and seed capital from pioneering venture fund Draper Fisher Jurvetson. The service was commercially launched on 4 July 1996. The idea found takers, 8.5 million of them by December 1997. That month itself, Microsoft Corporation, the world's largest software company, bought it off him for a whopping $400 million.That's the power of a good idea. In the last decade, businesses like Hotmail have rewritten the rules of starting a new business. The first idea that has been junked is that you need a large amount of capital to get it off the ground.

The second concept to go was that you must make a tangible product to sell. Their demise has been helped in no small measure by the increasing access of the common man to the Internet, as well as by the emergence of the services, rather than manufacturing as a huge and fast-growing sector. Further, the emergence of angel investors, venture capitalists and private equity funds has made it easier, although still not easy, to fund a new venture. The first new requirement for new-generation businesses is what old advertising hands would call the big idea, the ability to spot unmet needs for products or services.One, two, clean a shoe ... Take the case of Mumbai's Sandeep Gajakas. He saw a lot of otherwise cleanly dressed people going around in expensive, but dirty, footwear. That was because age-old methods were not good enough for cleaning hi-tech branded shoes that used different materials and textures. 20 Businesses You Can Start With Rs 5 lakh Or Less

further, view : 20 ventures you can start with Rs 5 lakh!

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Results On 27th October 2007

Results Calender from Indiaearnings.Com


Abhishek Mills 27-Oct-07

Andhra Sugar 27-Oct-07

Arvind Mills 27-Oct-07

Ashima 27-Oct-07

Banaras Beads 27-Oct-07

Bharat Gears 27-Oct-07

Broadcast 27-Oct-07

Cheslind Textil 27-Oct-07

Corporation Ban 27-Oct-07

Cybertech 27-Oct-07

Deepak Nitrite 27-Oct-07

Dena Bank 27-Oct-07

Dhanus Tech 27-Oct-07

Divis Labs 27-Oct-07

FDC 27-Oct-07

Fedders Llyod 27-Oct-07

Godfrey Phillip 27-Oct-07

Gokaldas Export 27-Oct-07

Granules India 27-Oct-07

Grasim 27-Oct-07

Hind Sanitary 27-Oct-07

IndusInd Bank 27-Oct-07

Jayaswals Neco 27-Oct-07

Jindal Saw 27-Oct-07

Jindal Steel 27-Oct-07

JK Bank 27-Oct-07

Kamat Hotels 27-Oct-07

Kansai Nerolac 27-Oct-07

KPR Mill 27-Oct-07

KRBL 27-Oct-07

Lloyd Electric 27-Oct-07

Magnum Ventures 27-Oct-07

Mahindra Gesco 27-Oct-07

MarathonNextgen 27-Oct-07

Mayur Leather 27-Oct-07

Mirza Intl 27-Oct-07

Nava Bharat Ven 27-Oct-07

Nile 27-Oct-07

Nitin Spinners 27-Oct-07

Novopan 27-Oct-07

NTPC 27-Oct-07

PNB Gilts 27-Oct-07

Precision Wires 27-Oct-07

Quintegra Solut 27-Oct-07

Rain Calcining 27-Oct-07

Rico Auto 27-Oct-07

S A Petrochem 27-Oct-07

Sandesh 27-Oct-07

Sanguine Media 27-Oct-07

SBI 27-Oct-07

Shipping Corp 27-Oct-07

Shoppers Stop 27-Oct-07

Shreyans Ind 27-Oct-07

Sirpur Paper 27-Oct-07

Sri Adhikari 27-Oct-07

Steel Exchange 27-Oct-07

Sun Pharma Adv 27-Oct-07

Tamil Newsprint 27-Oct-07

Thermax 27-Oct-07

Vardhman Hold 27-Oct-07

West Coast Pape 27-Oct-07

Wyeth 27-Oct-07

Zyden Gentec 27-Oct-07


Results Calendar from Myiris.Com


CAL SOFT

CORPORATION BK

DENA BANK

DIVIS LAB

GOKALDAS EXP


GRASIM IND

INDBANK MERCH

INDUSIND BK


J&K BANK

JINDAL SAW

JINDAL STEEL

K G DENIM

KALYANI FORGE

KAMAT HOTELS

KANSAI NERO

KOVAI MEDICAL

KPR MILL

MAHIND GESCO


MASCON GLOBAL

NAV BHAR VEN

NITINSPINNER

NTPC LTD

P N B GILTS

QUINTEGRA SOLU

RAIN CALCINING


S B I

SAINT-GOBAIN

SHIPPING CORP

SHOPPER STOP

SKM ENGG

SPICE MOBIL

T N NEWSPRINT

THERMAX

Results: Tata Steel, Larsen Toubro, ITC, Kotak Bk etc

Tata Steel Q2 net up 8% at Rs 1,190.83 cr

World's sixth largest steelmaker, Tata Steel Ltd on Friday posted 8.11 per cent rise in net profit at Rs 1,190.83 crore for the quarter ended September 30 as compared to Rs 1,101.49 crore in the corresponding quarter last year. Total income jumped 11.41 per cent to Rs 4,879.41 crore for the second quarter ended September 30 from Rs 4379.51 crore in the year-ago period, a company release said. For the first half of the current fiscal, the company reported a net profit of Rs 2,412.94 crore against Rs 2,054.90 crore in the same period in 2006-07.

Total income stood at Rs 9,223.11 crore for the six month period ended September 30 against Rs 8,356.89 crore in the comparable period last year. Earnings per share of the company stood at Rs 19.55 for the quarter ended September 30 as against Rs 19.15 in the same period last year. The company's steel production has grown to Rs 12.79 lakh tonnes in the quarter ended September 30 as against 12.57 lakh tonnes in the year-ago period. Besides, steel sales grew to 12.18 lakh tonnes in the reviewed quarter from 11.83 lakh tonnes in the same period last year, it said. Tata Steel also posted an export turnover of Rs 597.21 crore in the July-September period this year while it was Rs 545.95 crore in the same period of 2006-07.

Larsen & Toubro Q2 net profit jumps, shares rise 11 pc

Larsen & Toubro Ltd, India's largest engineering and construction firm, said on Friday quarterly profit rose by more than a third as it won more orders, sending its shares up nearly 11 percent. Larsen, whose heavy engineering and construction activities account about 75 percent of its total revenue, has been riding a boom in Indian infrastructure.

"With a healthy order book, the company is confident of sustaining the growth momentum, both in terms of revenue and profitability in the near to medium term," the company said in a statement. The company said it had an order backlog of 44O billion rupees ($11 billion) at the end of September, the company's chief financial officer Y.M. Deosthalee told reporters. Shares in Larsen raced to an all-time high of 3,835 rupees after the results and by 0713 GMT they were 10.3 percent higher at 3,811.25.

ITC Q2 net profit rises 13.42%

ITC’s net profit increase 13.42 per cent to Rs 770.87 crore for the quarter ended September 2007 compared to Rs 679.60 crore in the same quarter last year. Total income increased 18.20 per cent to Rs 3,481.63 crore from Rs 2,945.36 crore.


HDIL July-Sept net profit 2.29 bn rupees

Real estate firm Housing Development & Infrastructure Ltd has reported a net profit of 2.29 billion rupees for the July-September quarter, on net sales of 4.65 billion rupees.

Kotak Mahindra Bank Q2 net up over two-fold at Rs 241.45 cr

sector lender Kotak Mahindra Bank on Friday posted a more than a two-fold increase in net profit at Rs 241.45 crore for the quarter ended September 30, compared to Rs 93.90 crore for the same quarter last fiscal. The company's total income increased to Rs 1,811.78 crore for the second quarter ended September 30, against Rs 903.49 crore for the corresponding quarter in the year-ago period, Kotak Mahindra Bank said in a communique to the Bombay Stock Exchange. The standalone profit of the bank stood at Rs 75.38 crore for the September quarter, compared to Rs 34.80 crore for the same quarter in the previous fiscal.

Jindal Stainless July-September net down 57 pct

In its unaudited results for the quarter ended September 30, 2007, Jindal Stainless posted a net profit after tax of Rs 418.10 million for the quarter ended September 30, 2007 as compared to Rs 970.50 million for the quarter ended September 30, 2006

Andhra Bank Q2 net profit up 3.26%

Andhra Bank's net profit rose 3.26 per cent to Rs 151.21 crore in the quarter ended September 2007 compared to Rs 146.43 crore same quarter previous year.


Idea Cellular Q2 net profit doubles YoY

Federal Bank Q2 net profit up 37.24%

Deccan Chronicle July-Sept net at 826 mn rupees

JK Paper Q2 net up 13.6 pc

IL&FS Investsmart`s net declines 70.44% for Sep `07 qtr



Colgate-Palmolive Q2 earnings jump 2.36 times

Winro Commercial`s net up 31.90% for Sep `07 qtr

Tulip IT Services Q2 earnings climb 30.29%

Leading data communication services provider, Tulip IT (Q, N,C,F)* Services registered a substantial rise of 30.29% in net profit for the quarter ended September 2007, helped by 439 basis points rise in operating margin coupled with healthy revenue growth. During the quarter, the company saw a rise in net profit to Rs 370.84 million from Rs 202.48 million in the same quarter of the previous year. The company posted earnings per share of Rs 10.79 in this quarter.

OCL India net jumps 83.30% for Sep`07 qtr

Idea Cellular net rises 14% in Sep`07 qtr

Asahi India Q2 consolidated net falls 71.47%

Elecon Engineering Q2 net up 5.90%

Tata Steel net rises 8.11% for Sep `07 qtr

Cadila Healthcare Q2 consolidated net climbs 13.62%

ICSA net up 92.82% in Sep`07 qtr

ICSA (India) on standalone basis registered a stupendous 92.82% growth in net profit to Rs 288.80 million for the quarter ended September 2007 as compared with Rs 149.77 million for the corresponding quarter, last year.Net sales for the quarter rose 95% to Rs 1,462.31 million as compared with Rs 749.89 million for the same quarter, a year ago.

Syndicate Bank net up 10.97% in Sep`07 qtr

Micro Tech net up 60.75% for Sep `07 qtr

Bharat Forge net up 8.95% in Sep`07 qtr
Bharat Forge registered 8.95% growth in net profit to Rs 677.48 million for the quarter ended Sep. 30, 2007, from Rs 621.84 million in the corresponding quarter, last fiscal.
Net sales rose to Rs 5,632.24 million in the quarter ended Sep. 30, 2007, as against Rs 4,506.85 million in the same period last year, recording a growth of 24.97%.

BEL net dips 17.16% for Sep`07 qtr

Dabur Pharma Q2 net up 22%

Bata India net up 56.30% in Sep`07 qtr

Jindal Stainless net declines 56.91% in Sep`07 qtr


Dredging Corp Q2 net flat at Rs 358.60 mn

Prime Focus Q2 net up 58.44%

HCC net rises 2.78 times for Sep`07 qtr

Apollo Tyres net up 2.63 times in Sep`07 qtr

Apollo Tyres registered a stupendous 2.63 times growth in net profit to Rs 511.04 million for the quarter ended September 2007, as compared with Rs 193.70 million for the corresponding quarter, last fiscal.The rise in net profit can be mainly attributed to increase in other income and operating profit. Other income and operating profit surged 20.51 times and 86.23% respectively.Net sales for the quarter rose 10.03% to Rs 8,443.11 million, as compared with Rs 7,673.30 million for the same quarter, a year ago.

Bhagyanagar India profit climbs 46.48% for Sep`07

Bhagyanagar India registered 46.48% growth in net profit to Rs 101.47 million for the quarter ended Sep. 30, 2007 from Rs 69.27 million in the corresponding quarter, last fiscal

Gulf Oil Corporation net up 45.13% for Sep`07 qtr

Gulf Oil Corporation registered a 45.13% growth in net profit to Rs 52.09 million for the quarter ended September 2007 as compared with Rs 35.89 million for the corresponding quarter, last fiscal

Educomp Solutions net jumps 2.6 times in Q2

Educomp Solutions reported a 2.6 times jump in net profit at Rs 136.16 million for the second quarter ended September 2007, compared with Rs 50.63 million for the same quarter, last year. Net sales rose 2.27 times to Rs 449.42 million in the quarter, from Rs 197.13 million in the same quarter, a year ago.

Zuari Industries Q2 net up 6%

Action Construction net doubles in Sep`07 qtr

NMDC net up 22.4% for Sep`07 qtr

i-flex (consolidated) net down 6.5% in Q2

Deccan Chronicle net up 28.44% for Sep`07 qtr

Tata Coffee net dips 10.7% in Q2

DS Kulkarni net up 83% in Q2

Federal Bank net up 37.24% in Sep`07 qtr

Kerala-based Federal Bank (Q, N,C,F)* registered 37.24% rise in net profit to Rs 953.30 million for the quarter ended September 2007, from Rs 694.60 million in the quarter ended September 2006. Interest earned for the quarter rose 37.91% to Rs 5,981.50 million from Rs 4,337.10 million for the quarter ended September 2006.
Total income also rose 33.32%, to Rs 6,750.60 million for the quarter compared with Rs 5,063.20 million in the same quarter, last year.

Punjab Chemicals net doubles to Rs 45.3 mn for Sep`07 qtr

M&M Financial Services Q2 net rises 24.40%

Gujarat State Petronet net down 27.28% for Sep`07 qtr

Ratnamani Metals & Tubes net up 59.89% for Sep`07 qtr

Cummins India Q2 net up 6%

Kalpana Industries profit up 91.33% for Sep`07 qtr

Century Enka Q2 net climbs 24.48%

ING Vysya Bank net rises 11.08% in Sep`07 qtr

Sun Pharmaceutical net up 21.68% for Sep`07 qtr

TRF net up 4.09 times for H1FY08

Peninsula Land net falls 56.12% for Sep`07 qtr

National Fertilizers net rises 56.71% for Sep`07 qtr




HT Media Q2 net profit stood at Rs 32 cr

HT Media has declared its Q2 results. Its Q2 net profit stood at Rs 32 crore versus Rs 27 crore.




Atul Q2 net profit up at Rs 16 cr


JK Cement Q2FY08 net profit up at Rs 73 crore

JK Cement has declared its second quarter results. Its Q2FY08 net profit was up at Rs 73 crore from Rs 34 crore. ]

Pratibha Inds Q2 net prodit up at Rs 6.7 cr
Pratibha Industries has announced its Q2 FY08 result. The company in Q2 has reported net profit of Rs 6.7 crore versus Rs 3.7 crore, YoY basis.

Emkay Q2 net profit up at Rs 6.5 cr
Emkay in Q2 FY08 has reported net profit of Rs 6.5 crore versus Rs 2.2 crore on YoY basis.

NOCIL Q2 net profit down at Rs 1.4 cr



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Sensex races to a new high, ends 472 pts up


NIFTY 5702.30 133.35
SENSEX 19243.17 472.28

The market regulator SEBI went ahead and approved all draft proposals at its board meeting on Thursday. But then, the bulls remained undeterred by the move to tighten investment rules for unregistered foreign entities. Instead, the smooth rollover of derivatives contracts, a good set of results from India Inc and firm global markets prompted them to go on a buying spree today.
Save for a brief while in morning trade, when it slipped and fell to 18,629.53, losing around 140 points, the Sensex stayed high up in the positive territory right till the end of the session. The splendid rally in blue chip stocks lifted it to a new high of 19,276.45 in afternoon trade and despite finishing a few points down from that level at 19,243.17, the barometer recorded a sparkling gain of 472.28 points or 2.52% today.

The National Stock Exchange's CNX Nifty index, which hit a high of 5716.90 - it fell short of its all-time high of 5736.80 - in intra-day trades, settled at 5702.30, netting a big gain of 2.39% or 133.35 points for the day.

Bharti Airtel (down 2.55%), Hindustan Unilever (down 1.3%), Ambuja Cements (down 1.2%), ITC (down 1.1%), Ranbaxy Laboratories (down 1.05%), Cipla (down 0.9%) and Dr. Reddy's Laboratories (down 0.4%) ended on a weak note.

Larsen & Toubro, with strong quarterly results and a fat order book buoying it up, vaulted by 12.2% to Rs 3876.80 today. BHEL closed with a handsome gain of 6.25%.

State Bank of India turned in an impressive performance and notched up a smart gain of 7.2%. ICICI Bank finished with a gain of 3.35%. Mahindra & Mahindra (3.8%), ONGC (3.8%), Satyam Computer Services (3.2%), NTPC (2.55%), Reliance Industries (2.45%), Tata Motors (2.2%), Maruti Udyog (1.95%), Reliance Communications (1.9%), Tata Consultancy Services (1.9%), Grasim Industries (1.8%), ACC (1.75%), HDFC (1.65%) and Reliance Energy (1.25%) also ended with strong gains.

Bajaj Auto, HDFC Bank, Hindalco, Infosys Technologies and Wipro finished with modest gains. Tata Steel closed marginally higher than its previous closing price.

Nalco, Reliance Petroleum, SAIL, GAIL India, Sterlite Industries, Sun Pharmaceuticals, VSNL, Unitech, Hindustan Petroleum Corporation, Tata Power, Suzlon Energy and Zee Entertainment closed on a high note. Siemens and MTNL also finished with smart gains.

Engineers India hit the 20% upper circuit today. Dredging Corporation (17.75%), HMT (15.8%), IndusInd Bank (14%), Jaiprakash Associates (12.95%) and Container Corporation (11.85%) closed with hefty gains.

Ashok Leyland, Finolex Cables, GE Shipping, Bharat Earth Movers and Crompton Greaves gained 7% - 10%. Bharat Forge, Nicholas Piramal, Power Finance Corporation, Adani Enterprises, Axis Bank and Jindal Steel also closed with handsome gains.

Lakshmi Machine Works, Gujarat NRE Coke, India Infoline, Everest Kanto Cylinder, Gujarat Alkalies, Time Techno, Gitanjali Gems, Simplex Infrastructure, Bilcare, Cranes Software, Tube Investments, Redington India and Nagarjuna Constructions were among the big gainers in the midcap index.

Among small caps, Disa India, Nesco, Electrosteel Castings, OCL India, Marg Constructions, GE Capital, Ratnamani Metals, TIL, Atul, ITD Cementation, Parry Agro, India Hume Pipe, Zandu Pharma, Hercules Hoist, Info Media, Nirlon, Tata Sponge, ITI and Viceroy Hotels were among the leading gainers today.

Among the sectoral indices, barring the FMCG index, which eased by 0.28%, the other indices ended on the positive side. The Capital Goods index, the biggest gainer, moved up by over 7%. Mirroring investor interest for stocks from midcap and smallcap segments, the BSE Midcap and Smallcap indices ended stronger by 2.19% and 1.96% respectively.

The market breadth, thanks to an extremely bullish mood, remained strong right through the session today. The volume of business was fairly good today.

Sensex ends 472 pts up

Inflation rate remains steady at 3.07%



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Day's Quote/Corporate Story

Quote of the Day

" By being active, we are doubling our efficiency. By being inactive, we are hiding our efficiency. But remember, we have efficiency (only hiding it)."


Corporate/Personality of the Day

ICICI Bank

ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank in market capitalization and second largest overall in terms of assets. ICICI Bank has total assets of about USD 79 Billion (end-Mar 2007), a network of over 950 branches and offices, about 3600 ATMs, and 24 million customers(as of end July '07). ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank's equity shares are listed in India on stock exchanges at Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its ADRs are listed on the New York Stock Exchange (NYSE).

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


We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.