Economic Times Stories

Separate exchange likely for SMEs in 2008: SEBI
India's fiscal deficit falls in Dec to $19.7 bn
Maruti helps Suzuki post better profit
US stocks fall amid economic worries
SEBI allows foreign funds to buy debt

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Tata Chemical acquires US co for $1 bn

India expects to add $100 bn to forex reserve in FY'08
Global economy faces high risks: Moody's
GDP records impressive growth of 9.6 per cent in 2006-07
Oil prices may remain volatile: UAE
Rupee flat on exporter dollar sales but Gold rises after Fed rate cut

Container Corp approves 1 for 1 bonus share issue
SEBI eases norms for listing of debt securities
Reliance Power premium takes a hit
Mkt fall: Many young investors lost money
Heard on the Street

GMDC hits upper circuit on strong results, bonus issue

Future Capital IPO on Feb 1
Emaar MGF cuts IPO price band to Rs 540-630 per share
Wockhardt Hospitals lowers its IPO price band to Rs 225-260

SEBI to make close-ended MF schemes attractive to investors
Credit Suisse to launch wealth management in India
LIC's Kozhikode division crosses target for 2007-08 in advance



Source: www.Theeconomictimes.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: Tata Steel, Tata motors, ACC, Rcom, Unitech, MRF, LMW, IVRCL, IVR Prime, Omaxe, Siemens, Rolta, Punj, JKBk, IOC, etc

Tata Steel Q3 net profit up 0.45% YoY

Tata Steel’s net profit for October-December net profit rose 0.45 per cent to Rs 1068.58 crore against Rs 1063.75 crore during the same period of previous year. Total income increased 10.35 per cent to Rs 5,040.95 crore from Rs 4,568.20 crore a year ago. At 3:01, Tata Steel shares were down 0.19 per cent at Rs 722.10 on BSE.

Tata Steel profit remains flat in Dec`07 qtr
Tata Steel registered marginal rise in net profit for the quarter ended December 2007. During the quarter, the company experienced a 0.45% rise in profit to Rs 10,685.80 million from Rs 10,637.50 million in the quarter ended December 2006.
Net sales for the quarter rose 11.27% to Rs 49,739.20 million compared with Rs 44,699.80 million in the corresponding quarter, a year ago.
Total income rose 10.33% to Rs 50,409.50 million for the quarter ended December 2007 from Rs 45,687.20 million for the same period, last year.
The diluted EPS, after extraordinary items, stood at Rs 15.28 for the quarter ended December 2007.

Highlights of quarter
Tata Steel signed a memorandum of understanding (MoU) with Vietnam Steel Corporation for the proposed Cold Rolling Mill in Vietnam.Tata Steel and Riversdale Mining signed an agreement to establish a special purpose joint venture (JV) vehicle to develop a hard coking and thermal coal project at key coal exploration tenements held by Riversdale in Mozambique.
Tata Steel entered into a joint venture agreement with Al Bahja Group, a leading business house of Oman, for the development of the Uyun Limestone deposits at Salalah in the Sultanate of Oman.

Business Profile:
Tata Steel formerly Tata Iron and Steel Company, is India`s largest integrated private sector steel company. Established in 1907, its steel plant at Jamshedpur produces four million tons of hot and cold rolled flat and long products. Tata Steel (Q, N,C,F)* Group comprises of two entities, namely, Tata Steel (including Tata Steel Thailand and NatSteel Asia) and Corus Group.
Tata Steel`s operations are grouped under strategic profit centers like steel making, tubes, growth shop (for its steel plant and material handling equipment), bearings, ferro alloys and minerals, rings, agrico and wires.
Shares of the company declined Rs 4.4, or 0.61%, to trade at Rs 719.1. The total volume of shares traded was 237,646 at the BSE. (3.09 p.m., Thursday).



Unitech posts 39 pc rise in net profit at Rs 526 cr
Real estate firm Unitech on Thursday posted 39 per cent increase in consolidated net profit at Rs 525.78 crore for the quarter ended December 31, 2007, against Rs 377.84 crore for the corresponding period in the previous fiscal. Total income of the group during the quarter under review was Rs 1,165.11 crore, up 19 per cent from the corresponding period last year, the company said in a release. "Higher sales, better price realisation and strong project execution have resulted in a robust financial performance during the period. With many projects in the pipeline, we expect this strong performance to continue," Unitech Ltd Managing Director Sanjay Chandra said in the statement. For the nine-month period ended December 31, 2007, the consolidated total income of the group stood at Rs 3,129.04 crore and consolidated profit after tax was Rs 1,301.58 crore. During the quarter, Unitech made a foray into the Mumbai market by acquiring 50 per cent stake in a company executing a 97 acre slum rehabilitation project. The company also won a tender to develop a 1,750 acre township in Visakhapatnam. Besides, Unitech also bagged a tender to develop a 350 acre township in Hyderabad. On a standalone basis, Unitech posted 18.44 per cent decline in net profit at Rs 368.92 crore for the quarter ended on December 31, 2007, against Rs 452.38 crore for the same quarter in 2006. Net sales of the company dipped by 18.37 per cent to Rs 818.51 crore for quarter ended December 31, 2007, compared to Rs 1002.74 crore for the corresponding quarter last year, Unitech said in a filing to National Stock Exchange.

BPCL Q3 net profit falls 4% YoY

Tata Motors consolidated net rises 8.75% in Dec `07 qtr
Tata Motors Q3 net profit dips 3%
Tata Motors, on consolidated basis registered 8.75% rise of in net profit for the quarter ended December 2007. During the quarter, net profit stood at Rs 6,547.9 million as against Rs 6,020.70 million in the quarter ended December 2006.Total income rose 13.85% to Rs 93,246.90 million for the quarter ended December 2007 from Rs 81,896.60 million for the same period, last year.
Tata Motors, on standalone basis, registered a drop in net profit for the quarter ended December 2007. During the quarter, the company experienced a 2.75% drop in profit to Rs 4,990.50 million from Rs 5,131.70 million in the quarter ended December 2006.
Net sales for the quarter rose 4.24% to Rs 72,518.30 million compared with Rs 69,568.40 million in the corresponding quarter, a year ago.
Total income rose 5.34% to Rs 73,436.40 million for the quarter ended December 2007 from Rs 69,711.60 million for the same period last year.
The basic and diluted EPS after extraordinary item declined 12.01% to Rs 11.72 for the quarter ended December 2007 from Rs 13.32 for the same quarter last year.



RCom (consolidated) net rises 48.50% in Dec`07 qtr
Reliance Comm Q3 net up 49%, beats forecast
Reliance Communications, on consolidated basis, experienced a 48.50% rise in profit to Rs 13,728.30 million in quarter ended December 2007 from Rs 9,244.50 million in the quarter ended December 2006. Total income rose 29.80% to Rs 48,742 million for the quarter ended December 2007 from Rs 37,553 million for the same period, last year.Reliance Communications, on standalone basis, registered 43.39% drop in net profit for the quarter ended December 2007. During the quarter, the company experienced a 43.39% drop in profit to Rs 4,364.80 million from Rs 7,710.60 million in the quarter ended December 2006. Net sales for the quarter rose 11.83% to Rs 34,035.20 million compared with Rs 30,434.50 million in the corresponding quarter, a year ago.
Total income rose 12.03% to Rs 34,108.20 million for the quarter ended December 2007 from Rs 30,445.10 million for the same period, last year.
The diluted EPS, after extraordinary items, stood at Rs 2.02 for the quarter ended December 2007. Highlights of quarter:Reliance Communications received approval from the Federal Communications Commission (FCC) for the merger of U.S.-based Yipes Holdings, Inc. Reliance Communications (Q, N,C,F)* announced the USD 300 million acquisition of Yipes in July 2007.The allotment committee of the board of directors of the company has allotted 692,366 equity shares of Rs 5 each at a predetermined premium of Rs 475.68 a share on Dec. 29, 2007.The ministry of communications and IT government of India, made allotment of start up spectrum to the company for providing GSM services under the Unified Access Services Licenses (UASL). The allotment of spectrum is in addition to the company`s existing CDMA services. As a result, the company will, in due course, offer nation wide GSM services in addition to its existing CDMA services.


MRF Q3 net profit up 51% YoY
MRF’s net profit rose 78.69 per cent to Rs 51.75 crore for the October-December quarter against Rs 28.96 crore in the same quarter of previous year. Net sales increased 9.23 per cent to Rs 1,155.57 crore from Rs 1,057.83 crore a year ago.

United Phosphorous Q3 net profit falls 85% YoY


Lakshmi Machine Works Q3 net profit grows 30% YoY

Lakshmi Machine Works’ net profit rose 30.88 per cent to Rs 584.48 crore for October-December quarter against Rs 446.59 crore in the same quarter of previous year. Net sales increased to Rs 4,654.34 crore for the quarter ended Dec 31, 2007 from Rs 5,352.07 crore in the corresponding quarter of previous year.

National Fertilizers Q3 net profit up 28% YoY
National Fertilizers' net profit for the quarter ended Dec 31, 2007 rose 28.43 per cent to Rs 47.03 crore against Rs 36.62 crore in the same quarter of previous year.

Maharashtra Seamless Q3 net profit falls 14% YoY
Maharashtra Seamless’ net profit fell 14.76 per cent to Rs 51.16 crore for the quarter ended Dec 31, 2007 compared with Rs 60.02 crore for the corresponding quarter ended December 2006. Total income increased 10.86 per cent to Rs 388.55 crore from Rs 350.48 croe a year ago.

Puravankara Projects Q3 net profit jumps 152% YoY
Puravankara Projects’ net profit for the quarter ended Dec 31, 2007 rose 152.38 per cent to Rs 56.50 crore against Rs 22.38 crore for the corresponding quarter ended December 2006. Total revenue increased 78.46 per cent to Rs 150.53 crore for the October-December from Rs 84.35 crore for same period of pervious year. The group’s net profit grew 121.95 per cent to Rs 63.11 crore for the quarter compared with Rs 28.43 crore for the same period of earlier year. Total revenues increased 78.46 per cent to Rs 150.53 crore from Rs 84.35 crore a year ago.

Birla Corp Q3 net profit up 11% YoY
Birla Corporation’s net profit rose 11.84 per cent to Rs 106.40 crore for the quarter ended Dec 31, 2007 compared with Rs 95.14 crore the corresponding quarter ended December 2006. Total income increased 6.68 per cent to Rs 442.51 crore for October-December quarter from Rs 414.81 crore during the same period of previous year.

Finolex Cables Q3 net profit jumps 26% YoY
Finolex Cables’ October-December net profit rose 26.15 per cent to Rs 20.31 crore against Rs 16.1 crore in the same quarter of previous year. Total income increased 31.08 per cent to Rs 333.53 crore for the quarter ended Dec 31, 2007 from Rs 254.45 crore for the corresponding quarter ended December 2006.

Torrent Pharma Q3 net profit jumps 130% YoY
Torrent Pharmaceuticals’ net profit rose 130.27 per cent to Rs 54.16 crore for the quarter ended Dec 31, 2007 against with Rs 23.52 crore in the same quarter of previous year. Total income increased 20.35 per cent to Rs 263.26 crore from Rs 218.74 crore a year ago. The group’s net profit grew 45.30 per cent to Rs 37.27 crore for the October-December quarter compared with Rs 25.65 crore in corresponding quarter of earlier year. Total income improved by 2.84 per cent to Rs 348.44 crore for the quarter from Rs 338.82 crore during the same period of earlier year.

Siemens Q3 net profit jumps 100% YoY
Siemens’ net profit for the quarter ended Dec 31, 2007 rose 100.93 per cent to Rs 197.05 crore against Rs 98.07 crore in the same quarter of previous year. Total income increased 16.55 per cent to Rs 1,921.03 crore for the October-December quarter from Rs 1648.25 crore for the corresponding quarter of earlier year. The company has sold information and communication segment to Siemens Enterprise Communication, Germany in Aug 1, 2007 and building technologies segment to Siemens Building Technologies (formerly known as iMetrex Technologies) on Oct 1, 2007 respectively. It also sold an automotive segment to Siemens VDO Auto Components from Dec 01, 2007. The above divisions constitute separate reporting segments as disclosed in the segment wise report. Consequently the figures for the quarter ended Dec 31, 2007 are not strictly comparable with the figures of the quarter ended Dec 31, 2006.


Omaxe Q3 net at Rs 154.157 cr
Omaxe Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a profit after tax of Rs 123.09 crore for the quarter ended December 31, 2007. Total revenue is Rs 576.84 crore for the quarter ended December 31, 2007.
The consolidated results are as follows:
The group has posted a profit after tax of Rs 154.15 crore for the quarter ended December 31, 2007. Total revenue is Rs 678.21 crore for the quarter ended December 31, 2007.

ACC Q3 net up 15.14% at Rs 1427.34 cr
The company has posted a net profit of Rs 1438.59 crore for the year ended December 31, 2007 as compared to Rs 1231.84 crore for the year ended December 31, 2006. Total Income has increased from Rs 5945.13 crore for the year ended December 31, 2006 to Rs 7135.97 crore for the year ended December 31, 2007.
The audited consolidated results for the year ended December 31, 2007:
The group has posted a net profit of Rs 1427.34 crore for the year ended December 31, 2007 as compared to Rs 1239.60 crore for the year ended December 31, 2006. Total Income has increased from Rs 5984.56 crore for the year ended December 31, 2006 to Rs 7189.43 crore for the year ended December 31, 2007.

Hero Honda Q3 net up 32%
Top motorcycle maker, Hero Honda Motors Ltd, said on Thursday quarterly profit rose 32 per cent, as its higher-margin bikes helped offset firm interest rates in the world's biggest market after China. Hero Honda, in which India's Hero Group and Japan's Honda Motor Co each hold 26 per cent, has about half the market, which is expanding quickly on the back of rising incomes. Truck maker Daimler recently formed a venture with the Hero Group for a range of commercial vehicles in India. New Delhi-based Hero Honda said net profit rose to Rs 275 crore ($70 million) in the fiscal third quarter to end-December from Rs 209 crore reported a year earlier.
Net sales rose 3 per cent to Rs 2743 crore. The result beat a Reuters poll forecast of net profit of Rs 222 crore on net sales of Rs 2703 crore.

Moser Baer Oct-Dec net profit seen up 6.4 per cent

Alok Industries net rises 31.67% in Dec `07 qtr
Alok Industries disclosed a steady rise in net profit for the quarter ended December 2007. During the quarter, the company experienced a 31.67% rise in profit to Rs 488 million from Rs 370.60 million in the quarter ended December 2006.Net sales for the quarter rose 14.76% to Rs 5507.80 million compared with Rs 4,799.20 million in the corresponding quarter, a year ago. Total income rose 15.83% to Rs 5,596.50 million for the quarter ended December 2007 from Rs 4,831.50 million for the same period last year.


GAIL net down 6.63% in Dec`07 qtr

G A I L (India) registered a 6.63% fall in net profit to Rs 6,213.20 million for the quarter ended December 2007 as compared with Rs 6,654.60 million for the corresponding quarter last fiscal.Net sales for the quarter fell 1.82% to Rs 42,983.30 million as against Rs 43,783.70 million for the same quarter a year ago.
Total income for the quarter dipped 15.26% to Rs 44,831.50 million from Rs 52,908.50 million for the corresponding quarter last year.

Pyramid Saimira Q3 topline at Rs 2.31 bn

Pyramid Saimira Theatre, the holding company of Pyramid Saimira (Q, N,C,F)* Group, Asia`s largest and world`s 3rd largest theatre chain company, registered a turnover of Rs 2,310 million, for the third quarter ended Dec. 31, 2007, as against a turnover of Rs 460 million for the corresponding quarter last year.
The total revenue for the period from April - December 2007 stood at Rs 5,020 million.
The net profit for the December 2007 quarter stood at Rs 298.6 million as against Rs 51.5 million for the corresponding quarter last year.
The company also added 168 new screens to exhibit movies in this quarter, adding up to a total of 655 screens, in India alone.

Aries Agro Q3 net up 37%
Aries Agro Q3 net up 37%
Aries Agro (AAL), a micronutrient and other nutritional products for plants and animals manufacturing company, reported 37% increase in net profit to Rs 48.6 million for the third quarter ended December 2007 as compared with Rs 35.5 million for the corresponding quarter of the previous year.
Net sales rose 22.77% to Rs 289 million for the quarter ended Dec. 31, 2007 as against Rs 235.4 million in the previous quarter last year.
For 9 months ended Dec. 31, 2007, the company registered net sales of Rs 741.1 million with a net profit of Rs 110.5 million.


Rolta India (cons) net rises 47.09% in Dec `07 qtr
Rolta India, on consolidated basis registered 47.09% rise of in net profit for the quarter ended December 2007. During the quarter, net profit stood at Rs 602.18 million as against Rs 409.39 million in the quarter ended December 2006.Total income rose 47.84% to Rs 2,519.45 million for the quarter ended December 2007 from Rs 1,704.11 million for the same period, last year.

Punj Lloyd net rises 2.05 times in Dec `07 qtr
Punj Lloyd disclosed a phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 2.05 times rise in profit to Rs 391.60 million from Rs 190.39 million in the quarter ended December 2006.Net sales for the quarter rose 91.13% to Rs 12,437.50 million compared with Rs 6,507.28 million in the corresponding quarter, a year ago. Total income rose 87.95% to Rs 12,582 million for the quarter ended December 2007 from Rs 6,694.12 million for the same period last year.The diluted EPS after extraordinary stood at Rs 1.26 for the quarter ended December 2007.

J&K Bank net up 30.12% in Dec`07 qtr
Jammu & Kashmir Bank registered a 30.12% growth in net profit to Rs 1,091.60 million for the quarter ended December 2007 from Rs 838.90 million in the quarter ended December 2006.
Interest earned for the quarter rose 33.50% to Rs 6182.80 million compared with Rs 4631.00 million in the corresponding quarter, a year ago.
Total income rose 37.48% to Rs 6887.60 million for the quarter ended December 2007 from Rs 5009.60 million for the same period, last year.

Escorts loss widens 95.06% in Dec `07 qtr

Dabur Pharma net drops 7.51% in Dec `07 qtr
Leading oncology player, Dabur Pharma, (Q, N,C,F)* registered a drop in net profit for the quarter ended in December 2007. During the quarter, the company experienced a 7.51% drop in profit to Rs 82.60 million from Rs 89.31 million in the quarter ended December 2006.


Su-raj Diamonds net up 30.87% in Dec`07 qtr

Su-raj Diamonds and Jewellery registered a 30.87% growth in net profit to Rs 175.90 million for the quarter ended December 2007 as compared with Rs 134.40 million for the corresponding quarter last year.
Net sales for the quarter rose 24.73% to Rs 5,740.90 million as against Rs 4,602.60 million for the same quarter a year ago.

Valecha Engineering net drops 13.66% in Dec `07 qtr


Spice Mobiles swings to profit in Dec `07 qtr
Spice Mobiles swings to net profit for the quarter ended December 2007. During the quarter, the company posted profit to Rs 66.90 million from a loss of Rs 6.70 million in the quarter ended December 2006.Net sales for the quarter rose 2.10 times to Rs 1,209.70 million compared with Rs 574.30 million in the corresponding quarter, a year ago.

IVRCL Infra net up 99.39% in Dec`07 qtr

IVRCL Infrastructures & Projects registered a 99.39% rise in net profit to Rs 640.56 million for the quarter ended December 2007, compared with Rs 321.26 million for the same quarter, a year ago.Net sales for the quarter rose 86.64% to Rs 9,748.57 million as against Rs 5,223.11 million for the corresponding quarter, last year.


Cadila Healthcare net rises 20.19% in Dec`07 qtr
Cadila Healthcare disclosed a steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 20.19% rise in profit to Rs 631 million from Rs 525 million in the quarter ended December 2006.

Omaxe net up 5.46% in Dec`07 qtr (QoQ)
Realty company, Omaxe (Q, N,C,F)* posted a 5.46% jump in net profit at Rs 1,230.97 million for the quarter ended December 2007 as compared with Rs 1,167.27 million for the quarter ended September 2007.

IVR Prime net at Rs 1.16 bn for Dec`07 qtr
Hyderabad-based real estate developer IVR Prime (Q, N,C,F)* Urban Developers, which got listed on the bourses on Aug. 16, 2007, clocked net profit of Rs 1,163.23 million, on net sales of Rs 2,959.51 million for the latest quarter ended December 2007.
The company posted total income of Rs 3,030.87 million and its basis and diluted EPS stood at Rs 18.13 in December 2007 quarter.

K S Oils net up 60% in Dec`07 qtr
KS Oils registered a 60.47% growth in net profit to Rs 324.30 million for the quarter ended December 2007 as compared with Rs 202.10 million for the corresponding quarter, last year. Net sales for the quarter rose 84.72% to Rs 5,636.70 million as against Rs 3,051.50 million for the same quarter, a year ago.

CESC net up 52% in Dec`07 qtr
CESC registered a 52.46% growth in net profit to Rs 930.00 million for the quarter ended December 2007 as compared with Rs 610.00 million for the corresponding quarter, last fiscal.


IOC Q3 net surges 97% to Rs 20.9 bn
India`s largest refiner Indian Oil Corporation posted a 97.42% rise in net profit to Rs 20,906.90 million for the quarter ended December 2007 as compared with Rs 10,590.10 million for the corresponding quarter, a year ago.

Ess Dee net leaps 2.48 times for Dec`07 qtr
Ess Dee Aluminium, a foil-based packaging solutions provider, posted a robust 2.48 times jump in net profit to Rs 151.88 million for the quarter ended December 2007 as compared with Rs 61.30 million for the corresponding quarter in the last fiscal.

Radico Khaitan net rises 44% in Q3
Radico Khaitan posted a 44.01% jump in net profit at Rs 115.83 million for the quarter ended December 2007 as compared to Rs 80.43 million for the quarter ended December 2006.

Gateway Distriparks net up 12.24% for Dec `07 qtr
Gateway Distriparks has registered 12.24% growth in net profit to Rs 190.96 million for the quarter ended Dec. 31, 2007, from Rs 170.14 million in the corresponding quarter last fiscal.


Source: Sify.com , www.Theeconomictimes.com www.myiris.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Future Capital to see Rs 350-400 premium: Experts

Future Capital to see Rs 350-400 premium: Experts
Future Cap may list between Rs 800 to Rs 1,20


The first public issue of calendar 2008, Future Capital Holdings (FCHL), the financial services arm of the Future Group, will list on the stock exchanges on February 1, 2008. Experts feel that the stock is expected to see a premium of Rs 350-400.
Manish Bhatt of Prabhudas Lilladher said, "Future Capital is expected to list with premium of Rs 350-400. One can make partial profit booking."
According to R S Iyer of K R Choksey Securities, "The stock is likely to debut at around Rs 1150. Above Rs 1250, one can book profits. If the stock does not go above Rs 1250, then one can wait for better price for selling."
"Future Capital is likely to get listed at Rs 1,140 levels against issue price of Rs 765. Profit booking is advised upto Rs 1,000 levels, while fresh investment is not advised. Share may witness huge momentum and volatility", Investment Advisor, S P Tulsian said. The company had fixed the issue price at Rs 765 per equity share (upper end of the price band) for its initial public offering (IPO) of 6,422,800 equity shares of Rs 10 each for cash at the above price decided through a 100% book-building process. The issue had opened for subscription on January 11, 2008, and closed on January 16, 2008. According to the preliminary data obtained from the stock exchanges, the issue was subscribed to approximately around 133 times (Source: NSE website). The qualified institutional bidders portion was subscribed to approximately around 180 times; the non institutional investors portion 84 times; and the retail portion 55 times. The public issue received more than 11.71 lakh applications and bids for 85.7 crore equity shares as against 6.422 million shares on offer. The equity shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange. The issue constitutes 10.16% of the post-issue paid-up capital of the company. The book running lead managers to the issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited.

---------------------------------------------
The issue was oversubscribed 134 times, so we are expecting a strong listing. Future Capital premium has declined from Rs 550 per share to about Rs 400-450 per share. So, if one goes by the grey market premium, the listing is expected around Rs 1,150-1,200 per share. Even the break-even price for a leverage player is working out to be around similar levels. If one goes by valuations, which most brokerages are giving, this is one of the businesses, which doesn’t have much financials at the moment. It is all about a lot of promises and how the future businesses would pan out.

On that basis, the brokerages have valued this company. Most valuations are between Rs 5,000 crore to Rs 6,000 crore. If one goes by the grey market premium, then we are looking at a listing price of around Rs 1,150-1,200 per share. If one goes by valuations that the various brokerages are giving, then we are looking at roughly about Rs 800-975 per share.

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Source: www.moneycontrol.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: AIAEngg, Peninsula, MadhuconProj, Nagarjunaconst, GBN, Madras cement, Ceat, SREIinfra etc

Corporate Results


Swaraj Mazda net profit rises 26.00% in the December 2007 quarter

Gulf Oil Corporation net profit rises 0.15% in the December 2007 quarter
Net profit of Gulf Oil Corporation rose 0.15% to Rs 6.54 crore in the quarter ended December 2007 as against Rs 6.53 crore during the previous quarter ended December 2006. Sales rose 25.50% to Rs 187.27 crore in the quarter ended December 2007 as against Rs 149.22 crore during the previous quarter ended December 2006.

MSP Steel & Power net profit rises 28.27% in the December 2007 quarter
Net profit of MSP Steel & Power rose 28.27% to Rs 9.03 crore in the quarter ended December 2007 as against Rs 7.04 crore during the previous quarter ended December 2006. Sales rose 70.61% to Rs 100.18 crore in the quarter ended December 2007 as against Rs 58.72 crore during the previous quarter ended December 2006.

Shree Precoated Steels net profit rises 334.15% in the December 2007 quarter
Net profit of Shree Precoated Steels rose 334.15% to Rs 73.98 crore in the quarter ended December 2007 as against Rs 17.04 crore during the previous quarter ended December 2006. Sales rose 10.31% to Rs 458.43 crore in the quarter ended December 2007 as against Rs 415.58 crore during the previous quarter ended December 2006.

Ramco Systems reports net profit of Rs 28.55 crore in the December 2007 quarter
Kalptaru Papers net profit rises 13.11% in the December 2007 quarter

Arvind Remedies net profit rises 7.81% in the December 2007 quarter

Pyramid Saimira Theatre net profit rises 479.81% in the December 2007 quarter
Net profit of Pyramid Saimira Theatre rose 479.81% to Rs 29.86 crore in the quarter ended December 2007 as against Rs 5.15 crore during the previous quarter ended December 2006. Sales rose 402.54% to Rs 231.42 crore in the quarter ended December 2007 as against Rs 46.05 crore during the previous quarter ended December 2006.

Vaibhav Gems net profit declines 86.51% in the December 2007 quarter

Autoline Industries net profit rises 78.38% in the December 2007 quarter
Net profit of Autoline Industries rose 78.38% to Rs 6.60 crore in the quarter ended December 2007 as against Rs 3.70 crore during the previous quarter ended December 2006. Sales rose 49.85% to Rs 63.04 crore in the quarter ended December 2007 as against Rs 42.07 crore during the previous quarter ended December 2006.

Goldiam International net profit declines 50.63% in the December 2007 quarter
Aftek net profit rises 8.90% in the December 2007 quarter

Amtek India net profit rises 25.78% in the December 2007 quarter
Net profit of Amtek India rose 25.78% to Rs 36.15 crore in the quarter ended December 2007 as against Rs 28.74 crore during the previous quarter ended December 2006. Sales rose 41.24% to Rs 247.61 crore in the quarter ended December 2007 as against Rs 175.31 crore during the previous quarter ended December 2006.

Ansal Housing & Construction net profit rises 25.48% in the December 2007 quarter
Net profit of Ansal Housing & Construction rose 25.48% to Rs 16.40 crore in the quarter ended December 2007 as against Rs 13.07 crore during the previous quarter ended December 2006. Sales rose 24.67% to Rs 70.00 crore in the quarter ended December 2007 as against Rs 56.15 crore during the previous quarter ended December 2006.

Bhagyanagar India net profit rises 36.34% in the December 2007 quarter
Net profit of Bhagyanagar India rose 36.34% to Rs 9.38 crore in the quarter ended December 2007 as against Rs 6.88 crore during the previous quarter ended December 2006. Sales rose 36.83% to Rs 64.76 crore in the quarter ended December 2007 as against Rs 47.33 crore during the previous quarter ended December 2006.

Madhucon Projects net profit rises 32.72% in the December 2007 quarter
Net profit of Madhucon Projects rose 32.72% to Rs 12.98 crore in the quarter ended December 2007 as against Rs 9.78 crore during the previous quarter ended December 2006. Sales rose 66.95% to Rs 201.17 crore in the quarter ended December 2007 as against Rs 120.50 crore during the previous quarter ended December 2006.

Pudumjee Agro Industries net profit rises 476.47% in the December 2007 quarter

L T Overseas net profit rises 25.85% in the December 2007 quarter
Net profit of L T Overseas rose 25.85% to Rs 9.30 crore in the quarter ended December 2007 as against Rs 7.39 crore during the previous quarter ended December 2006. Sales rose 24.74% to Rs 161.73 crore in the quarter ended December 2007 as against Rs 129.65 crore during the previous quarter ended December 2006.

Wheels India net profit rises 61.83% in the December 2007 quarter

Mold-Tek Technologies net profit rises 52.86% in the December 2007 quarter

Hotel Leela Venture net profit rises 54.18% in the December 2007 quarter
Net profit of Hotel Leela Venture rose 54.18% to Rs 54.98 crore in the quarter ended December 2007 as against Rs 35.66 crore during the previous quarter ended December 2006. Sales rose 44.37% to Rs 142.96 crore in the quarter ended December 2007 as against Rs 99.02 crore during the previous quarter ended December 2006.

Peninsula Land net profit rises 74.23% in the December 2007 quarter
Net profit of Peninsula Land rose 74.23% to Rs 37.86 crore in the quarter ended December 2007 as against Rs 21.73 crore during the previous quarter ended December 2006. Sales declined 64.09% to Rs 22.36 crore in the quarter ended December 2007 as against Rs 62.26 crore during the previous quarter ended December 2006.

Network 18 Media & Investments reports net profit of Rs 30.33 crore in the December 2007 quarter

AIA Engineering net profit rises 116.03% in the December 2007 quarter
Net profit of AIA Engineering rose 116.03% to Rs 31.67 crore in the quarter ended December 2007 as against Rs 14.66 crore during the previous quarter ended December 2006. Sales rose 59.46% to Rs 167.02 crore in the quarter ended December 2007 as against Rs 104.74 crore during the previous quarter ended December 2006.

Nagarjuna Construction Company net profit declines 11.71% in the December 2007 quarter
Net profit of Nagarjuna Construction Company declined 11.71% to Rs 39.64 crore in the quarter ended December 2007 as against Rs 44.90 crore during the previous quarter ended December 2006. Sales rose 11.40% to Rs 779.51 crore in the quarter ended December 2007 as against Rs 699.77 crore during the previous quarter ended December 2006.

Global Broadcast News reports net profit of Rs 1.79 crore in the December 2007 quarter

Balrampur Chini Mills reports net loss of Rs 0.06 crore in the December 2007 quarter

Royal Orchid Hotels net profit declines 7.29% in the December 2007 quarter

Madras Cements net profit rises 62.43% in the December 2007 quarter
Net profit of Madras Cements rose 62.43% to Rs 110.65 crore in the quarter ended December 2007 as against Rs 68.12 crore during the previous quarter ended December 2006. Sales rose 31.05% to Rs 512.38 crore in the quarter ended December 2007 as against Rs 390.99 crore during the previous quarter ended December 2006.

Bajaj Electricals net profit rises 90.15% in the December 2007 quarter
Net profit of Bajaj Electricals rose 90.15% to Rs 18.92 crore in the quarter ended December 2007 as against Rs 9.95 crore during the previous quarter ended December 2006. Sales rose 28.88% to Rs 365.13 crore in the quarter ended December 2007 as against Rs 283.30 crore during the previous quarter ended December 2006.

Adlabs Films net profit declines 6.65% in the December 2007 quarter

Kohinoor Foods net profit rises 3.11% in the December 2007 quarter
Net profit of Kohinoor Foods rose 3.11% to Rs 8.29 crore in the quarter ended December 2007 as against Rs 8.04 crore during the previous quarter ended December 2006. Sales declined 14.16% to Rs 155.90 crore in the quarter ended December 2007 as against Rs 181.62 crore during the previous quarter ended December 2006.

Unichem Laboratories net profit declines 21.22% in the December 2007 quarter
Net profit of Unichem Laboratories declined 21.22% to Rs 15.11 crore in the quarter ended December 2007 as against Rs 19.18 crore during the previous quarter ended December 2006. Sales rose 5.93% to Rs 139.11 crore in the quarter ended December 2007 as against Rs 131.32 crore during the previous quarter ended December 2006.

CEAT net profit rises 63.16% in the December 2007 quarter
Net profit of CEAT rose 63.16% to Rs 19.22 crore in the quarter ended December 2007 as against Rs 11.78 crore during the previous quarter ended December 2006. Sales rose 5.11% to Rs 564.11 crore in the quarter ended December 2007 as against Rs 536.66 crore during the previous quarter ended December 2006.

Indus Fila net profit rises 61.20% in the December 2007 quarter
Net profit of Indus Fila rose 61.20% to Rs 12.09 crore in the quarter ended December 2007 as against Rs 7.50 crore during the previous quarter ended December 2006. Sales rose 60.43% to Rs 124.22 crore in the quarter ended December 2007 as against Rs 77.43 crore during the previous quarter ended December 2006.

Hindustan Dorr-Oliver net profit rises 58.36% in the December 2007 quarter

IL & FS Investsmart net profit declines 68.99% in the December 2007 quarter

Lakshmi Machine Works net profit rises 30.88% in the December 2007 quarter
Net profit of Lakshmi Machine Works rose 30.88% to Rs 58.45 crore in the quarter ended December 2007 as against Rs 44.66 crore during the previous quarter ended December 2006. Sales rose 14.99% to Rs 535.21 crore in the quarter ended December 2007 as against Rs 465.43 crore during the previous quarter ended December 2006.

Ashapura Minechem net profit rises 16.79% in the December 2007 quarter
Net profit of Ashapura Minechem rose 16.79% to Rs 36.94 crore in the quarter ended December 2007 as against Rs 31.63 crore during the previous quarter ended December 2006. Sales rose 84.36% to Rs 355.89 crore in the quarter ended December 2007 as against Rs 193.04 crore during the previous quarter ended December 2006.

Indraprastha Gas net profit rises 26.89% in the December 2007 quarter
Net profit of Indraprastha Gas rose 26.89% to Rs 45.02 crore in the quarter ended December 2007 as against Rs 35.48 crore during the previous quarter ended December 2006. Sales rose 14.30% to Rs 182.73 crore in the quarter ended December 2007 as against Rs 159.87 crore during the previous quarter ended December 2006.

Karuturi Networks net profit declines 10.99% in the December 2007 quarter

MSK Projects India net profit rises 43.41% in the December 2007 quarter

SREI Infrastructure Finance net profit rises 58.26% in the December 2007 quarter
Net profit of SREI Infrastructure Finance rose 58.26% to Rs 28.36 crore in the quarter ended December 2007 as against Rs 17.92 crore during the previous quarter ended December 2006. Sales rose 85.65% to Rs 173.56 crore in the quarter ended December 2007 as against Rs 93.49 crore during the previous quarter ended December 2006.

Tide Water Oil Co (I) net profit rises 342.86% in the December 2007 quarter

Harrisons Malayalam net profit declines 44.78% in the December 2007 quarter

Lakshmi Vilas Bank net profit rises 23.23% in the December 2007 quarter

Paramount Communications net profit declines 16.08% in the December 2007 quarter

Kernex Microsystems India net profit rises 16.67% in the December 2007 quarter

Birla Power Solutions net profit rises 2.14% in the December 2007 quarter

Crest Animation Studios net profit rises 140.91% in the December 2007 quarter




Source: www.capitalmarket.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

VC, PE updates,Jobs from VCCircle.com, Indiape.com

VCCircle.com


Market Crash Forces Wockhardt, Emaar MGF To Slash IPO Prices
Exclusive: E*Trade To Sell Its Stake In IL&FS InvestSmart; Carlyle, TPG In Race
Tata Chemicals Buys US-Based General Chemical For $1 Billion
Kubera Partners Invests $10 Million In GSS America; To List In India Soon

NEA-IndoUS Ventures Invests $2.5 Million In VAS Company Bay Talkitec
FDI Changes: Commodity Exchanges Gets 49%; MRO, Flying Training 100%
250-Year Old Cox & Kings To Raise Rs 370 Crore From IPO

UTI AMC To Make Pre-IPO Placement To International Investors
CDC Commits Close To $1 Billion To Actis’ Emerging Markets Infra Fund
Mumbai Angels-Backed Reverse Auction Travel Site AtYourPrice.in Launches
OnMobile Global IPO Sold 21 Times Thanks To Institutions

HDFC To List Mutual Fund Arm By Year-End; Gets Rs 235 Cr From General Insurance Stake Sale
A Cautious RBI Keeps Rates Unchanged; Chidambaram Endorses View
Kotak Mahindra To Acquire 51% Stake In Ahmedabad Commodity Exchange
“We Need External Capital And Can Sell Upto 26%:” Intex’s Vaswani

“We Need External Capital And Can Sell Upto 26%:” Intex’s Vaswani
ICICI Venture Invests $24 Million In Mysore’s Vikram Hospital
PTC To Float $1 Billion Fund To Acquire Coal Assets Overseas
John Doerr Tops The Midas List; Ravi Adusumalli Debuts At 77

ICG Q Invests In Prime Securities; SMC-Millennium Deal Through
IIT Bombay To Organise Entrepreneurship Summit 2008
Elbee Gets Rs 25 Crore From Clearstone, Jhunjhunwala; Lines Up Rs 200 Cr Expansion
AV Birla Group Makes Its Debut PE Deal; Buys Stake in Core Projects

WPP Acquires Roshan Abbas’s Event Management Company Encompass
GVFL Invests $1M In IIM A Startup vMukta; $625K In Biotech Firm
Tata Capital To Invest In Quickjet Cargo; Many Others Plan Air Cargo Biz
BL Kashyap’s Real Estate Arm To Raise Rs 250 Crore Via PE Route

Abu Dhabi Plans To Become Cleantech/Solar Hub; Commits $15-Billion
US Asset Manager BlackRock Buys Merrill’s 40% Stake In India Fund Unit
Heineken To Own 37.5% Stake In UB Following S&N Sell-off
Why Patni Promoters Are Buying Back Shares; Is A PE Deal Coming?

Goldman Eyes Investments In TVS Logistics, Real Estate Firm Century Group
PE-Backed INX Media Loses Key Executive Vir Sanghvi
Singapore PE Firm Mercatus Capital Eyeing Indian Opportunities
Pyramid Samira Acquires UK Gaming Company Aurona Technologies

Mumbai Construction Subcontractor Futura Raises $10 Million From US Fund
Kotak PMS’ Gems Fund To Dedicate 30% Of Corpus For Private Placements
ICICI Venture To Start Raising $3 Billion Infrastructure Fund Soon
News Analysis: Will Market Crash Affect Private Equity Activity?

--------------------------------------------------------
IndiaPE.com



Frontline Ventures invested $40 million in Futura Infraprojects
Goose Tech to raise $2mn VC funding
Bharti Airtel to dilute stake in tower biz

Kubera fund invests $10 mn in GSS America
Trikona Trinity plans disposal of Dynamix Balwas Hospitality
VC firms invest over $540 million in India during 2007

Unitech to sell up to 50% stake to telecom ally
Ranbaxy, DRL, Lupin in race for 53% stake in Romanian pharma co
UTI AMC to sell 10-12% for $200 mn

Private equity funding to touch $48 bn by 2010: Assocham
IOT picks up 81% in Awesha Comtech
JWT acquires majority stake in Encompass

Trikona Announces SEZ Approval for 76-Acre Mixed-Use Development
Foreign funds plns to invest Rs 56.9 cr in Prime Securities
IQMS to acquire 51 pc stake in Object Xperts of US



Source: http://www.vccircle.com and www.indiape.com. 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Deadpresident blog updates

Lakshmi Electric Control

Blue Star

Zee Entertainment

Grey Market - Shriram EPC, IRB Infrastructure, Reliance Power

Post Session Commentary - Jan 31 2008

Market Close: No surprise even after Fed cut

Sensex sheds 110 points

Jubilant Organosys, Gateway Distriparks, Container Corporation,Cummins India, Blue Star, Crompton Greaves, IOB

ICICI Bank, Bank of Baroda, Subros, Bajaj Auto, Elder Pharma, Indian Hotels, Indotech Transformers, Crompton Greaves, Bharti Airtel

Long Term Recommendations - Jan 31 2008

Reliance Power Allotment Status

Cummins India

Fed cuts rates again

Tulsi Extrusions IPO Analysis

Exide Industries

Glaxo, Gwalior Chemical, SAIL, Subros, Yes Bank

Sterlite Industries,Nalco, Maruti Suzuki, Asian Paints, Jagran Prakashan, Suzlon Energy, Tata Tea, Zee Entertainment, Mahindra Lifespace, Economy

Ashok Leyland, Indoco Remedies, Tulip IT, BHEL

Zensar Technologies, Aztec, Subex , DCHL, Suzlon Energy, Voltamp, Thermax, Shoppers' Stop




Source: www.deadpresident.blogspot.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Indian economy booms at 9.6% in 2006-07

Indian economy booms at 9.6% in 2006-07
GDP records impressive growth of 9.6% in 2006-07

Recording another year of impressive performance, the economy grew by 9.6 per cent during 2006-07, leading to over 14 per cent increase in the per capital income, the government announced on Thursday.
The improved growth in the GDP, up from 9.4 per cent in 2005-06, has been achieved due to all around improvement in mining, manufacturing and services sectors, which helped to offset the slower growth in agriculture sector, according to the quick estimates released by the Central Statistical Organisation (CSO).
While agriculture sector grew by 3.8 per cent, down from 6.1 per cent, manufacturing sector recorded 12 per cent growth, which is substantially higher than 9 per cent growth recorded in the previous year.
Likewise, mining and quarrying sector growth also improved from 4.9 per cent to 5.7 per cent, according to quick estimates for national income, consumption, expenditure, saving and capital formation.

The impressive showing was also reflected in improvement in per capital income, which increased to Rs 29,642 from Rs 25,956 during 2005-06.
The overall improvement in the performance could also be attributed to an impressive 35.9 per cent growth in capital formation that stood at Rs 14,87,786 crore (Rs 14.87786 trillion) during 2006-07.

Such higher level of investment was made possible by a significant 34.3 per cent increase in domestic savings that were estimated at Rs 14,41,423 crore (Rs 14.41423 trillion) during 2006-07 at current prices.
As per the revised figures of GDP released on Thursday, the economy grew by 9.6 per cent in 2006-07, against previous estimate of 9.4 per cent. The GDP growth figures for 2005-06 has also been revised upward from 9 per cent to 9.4 per cent.

In the current financial year, the economy grew by 9.3 per cent in the first quarter and 8.9 per cent in the second quarter.
For 2006-07,the construction sector growth has been revised upward to 12 per cent, against 10.7 per cent estimated earlier.

At constant prices (1999-00), the share of agriculture, forestry and fishing in the GDP stood at 18.5 per cent in 2006-07, down from 19.6 per cent in the previous year. Meanwhile, the share of manufacturing sector in GDP rose to 15.4 per cent, up from 15.1 per cent during the same period.

The share of financing, insurance and real estate in the GDP also increased to 14.3 per cent in 2006-07, compared to 13.8 per cent in the previous year.
At current prices, share of food items in private final consumption expenditure stood at 36.4 per cent in 2006-07, marginally up from 36.3 per cent in 2005-06.

Meanwhile, share of transport and communication went up to 17.5 per cent from 17.3 per cent during the same period, while share of gross rent, fuel and power consumption declined from 12.6 per cent in 2005-06 to 12 per cent in 2006-07.





Source: www.rediff.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sensex extends losing streak, ends 110 points

Sensex extends losing streak, ends 110
Sensex falls 110 points; realty, banking

NSE
5137.45 -30.15
BSE
17648.71 -109.93



The market, which drifted down sharply into the red after opening higher, bounced back smartly as select blue chips, led by information technology and oil majors, ruled firm on sustained buying enquiries due largely to short-covering in the derivative segment ahead of expiry of January series contracts.
Mirroring the surge, the Sensex, which was down in the red with a big loss of nearly 350 points at 17,417.63 at one stage, zoomed past the 18,000 mark a little past noon and held on in the positive territory with its gains intact till around mid afternoon. However, with a number of front line stocks turning easy following a strong bout of selling in late afternoon trade, the barometer plunged into the red once again.
Finally, amid erratic fluctuations in stock prices, the Sensex ended the session with a sharp loss of 109.93 points or 0.62% at 17,648.71. The Nifty which swung in a range of around 180 points - it hit a high of 5251.65 and a low of 5071.15 today - settled at 5137.45 with a loss of 0.58% or 30.15 points.
Global cues were somewhat mixed. Despite a 50 basis point cut announced by the US Federal Reserve, the Wall Street had ended just marginally higher. Among the markets in Asia, Japan, South Korea, Thailand and Malaysia ended higher while Taiwan, China and Hong Kong markets ended weak. Results from India Inc remained mixed as well.
Hindustan Unilever, which moved up by over 5%, was the top gainer in the Sensex today. Bajaj Auto surged 3.85% to Rs 2355.65. HDFC Bank and ONGC closed stronger by 2.4% and 2.05% respectively despite surrendering a good portion of their intra-day gains.
Tata Motors, Bharti Airtel, Tata Steel, Tata Consultancy Services and Ambuja Cements closed with gains ranging from 1% to 1.5%. Infosys Technologies and Reliance Industries played a significant role in lifting the market this morning but both gave up a significant portion of their gains due to heavy selling in late afternoon trade. While Infosys Technologies ended with a gain of 0.75%, Reliance Industries closed with a modest gain of 0.4%. Maruti Suzuki and Wipro closed higher by 0.75% and 0.3% respectively.
Disappointing results haunted Hindalco today. The stock, which slipped to a low of Rs 158.50 did find some support at lower levels, yet ended the session with a sharp loss of 5.85% at Rs 165.75. Realty stock DLF eased by 5.75%. ICICI Bank (down 3.3%), Mahindra & Mahindra (down 3.1%), State Bank of India (down 2.6%), ITC (down 2.15%), NTPC (down 1.85%), ACC (down 1.8%), HDFC (down 1.75%) and Reliance Communications (down 1.7%) also ended with sharp losses.
Grasim Industries ended 1.4% down at Rs 2948.75. BHEL, which moved in a tight band today, closed with a loss of 1.15% at Rs 2064.10. Ranbaxy Laboratories lost 1.15%. Larsen & Toubro declined by 0.7% while Reliance Energy and Satyam Computer Services edged lower by around 0.4%. Cipla finished with a small loss.
GlaxoSmithKline Pharma, HCL Technologies, GAIL India, Punjab National Bank, Tata Power, Siemens, ABB, Sterlite Industries, Suzlon Energy, SAIL, Sun Pharmaceuticals, Reliance Petroleum and Dr. Reddy's Laboratories were among the major losers from the Nifty.
Nalco ended with a handsome gain of 8.5%. Idea Cellular moved up by 7.15%. VSNL closed with a sharp gain of 4.65% while Zee Entertainment gained over 4%.
Container Corporation jumped 14.25% on strong results and a bonus proposal. Exide Industries, Jindal Stainless, Asian Paints, Indian Oil Corporation, IVR Prime, Jindal Steel, Gujarat Mineral Development, Lupin, Gillette, Torrent Pharma, Colgate Palmolive, Aditya Birla Nuvo, D-Link India, Procter & Gamble and United Phosphorus had a nice ride up the charts today.
Honeywell Automation, Ess Dee Aluminium, Rajesh Exports, Infotech Enterprises, Amtek India, Plethico Pharma, Indraprastha Gas, Provogue, Anant Raj Industries, JM Financial Services, Kalpataru Power Transmission, Geodesic Infosystems, REI Agro, Himadri Chemicals and Religare Enterprises were some of the impressive gainers in the midcap index today.
The market breadth was weak once again. Out of 2792 stocks traded on BSE today, only 977 stocks managed to end on a winning note. 1774 stocks closed in the negative territory while 41 stocks ended at their previous closing levels.

The market, which drifted down sharply into the red after opening higher, bounced back smartly as select blue chips, led by information technology and oil majors, ruled firm on sustained buying enquiries due largely to short-covering in the derivative segment ahead of expiry of January series contracts.

Mirroring the surge, the Sensex, which was down in the red with a big loss of nearly 350 points at 17,417.63 at one stage, zoomed past the 18,000 mark a little past noon and held on in the positive territory with its gains intact till around mid afternoon. However, with a number of front line stocks turning easy following a strong bout of selling in late afternoon trade, the barometer plunged into the red once again.

Finally, amid erratic fluctuations in stock prices, the Sensex ended the session with a sharp loss of 109.93 points or 0.62% at 17,648.71. The Nifty which swung in a range of around 180 points - it hit a high of 5251.65 and a low of 5071.15 today - settled at 5137.45 with a loss of 0.58% or 30.15 points.

Global cues were somewhat mixed. Despite a 50 basis point cut announced by the US Federal Reserve, the Wall Street had ended just marginally higher. Among the markets in Asia, Japan, South Korea, Thailand and Malaysia ended higher while Taiwan, China and Hong Kong markets ended weak. Results from India Inc remained mixed as well.

Hindustan Unilever, which moved up by over 5%, was the top gainer in the Sensex today. Bajaj Auto surged 3.85% to Rs 2355.65. HDFC Bank and ONGC closed stronger by 2.4% and 2.05% respectively despite surrendering a good portion of their intra-day gains.

Tata Motors, Bharti Airtel, Tata Steel, Tata Consultancy Services and Ambuja Cements closed with gains ranging from 1% to 1.5%. Infosys Technologies and Reliance Industries played a significant role in lifting the market this morning but both gave up a significant portion of their gains due to heavy selling in late afternoon trade. While Infosys Technologies ended with a gain of 0.75%, Reliance Industries closed with a modest gain of 0.4%. Maruti Suzuki and Wipro closed higher by 0.75% and 0.3% respectively.

Disappointing results haunted Hindalco today. The stock, which slipped to a low of Rs 158.50 did find some support at lower levels, yet ended the session with a sharp loss of 5.85% at Rs 165.75. Realty stock DLF eased by 5.75%. ICICI Bank (down 3.3%), Mahindra & Mahindra (down 3.1%), State Bank of India (down 2.6%), ITC (down 2.15%), NTPC (down 1.85%), ACC (down 1.8%), HDFC (down 1.75%) and Reliance Communications (down 1.7%) also ended with sharp losses.
Grasim Industries ended 1.4% down at Rs 2948.75. BHEL, which moved in a tight band today, closed with a loss of 1.15% at Rs 2064.10. Ranbaxy Laboratories lost 1.15%. Larsen & Toubro declined by 0.7% while Reliance Energy and Satyam Computer Services edged lower by around 0.4%. Cipla finished with a small loss.

GlaxoSmithKline Pharma, HCL Technologies, GAIL India, Punjab National Bank, Tata Power, Siemens, ABB, Sterlite Industries, Suzlon Energy, SAIL, Sun Pharmaceuticals, Reliance Petroleum and Dr. Reddy's Laboratories were among the major losers from the Nifty.
Nalco ended with a handsome gain of 8.5%. Idea Cellular moved up by 7.15%. VSNL closed with a sharp gain of 4.65% while Zee Entertainment gained over 4%.

Container Corporation jumped 14.25% on strong results and a bonus proposal. Exide Industries, Jindal Stainless, Asian Paints, Indian Oil Corporation, IVR Prime, Jindal Steel, Gujarat Mineral Development, Lupin, Gillette, Torrent Pharma, Colgate Palmolive, Aditya Birla Nuvo, D-Link India, Procter & Gamble and United Phosphorus had a nice ride up the charts today.

Honeywell Automation, Ess Dee Aluminium, Rajesh Exports, Infotech Enterprises, Amtek India, Plethico Pharma, Indraprastha Gas, Provogue, Anant Raj Industries, JM Financial Services, Kalpataru Power Transmission, Geodesic Infosystems, REI Agro, Himadri Chemicals and Religare Enterprises were some of the impressive gainers in the midcap index today.

The market breadth was weak once again. Out of 2792 stocks traded on BSE today, only 977 stocks managed to end on a winning note. 1774 stocks closed in the negative territory while 41 stocks ended at their previous closing levels.

Sify stories:

Omaxe Q3 net at Rs 154.157 cr
Unitech to invest Rs 1,00,000 cr in real estate
Tata Motors Q3 net profit dips 3%
ACC Q3 net up 15.14% at Rs 1427.34 cr

National Fertilizers Q3 net up 28.34% at Rs 47 cr
Hero Honda Q3 net up 32%
Birla Corporation Q3 net up 11.83% at Rs 106.40 cr
Tata Chemicals buys US firm for a $1 b

Economic growth will top 9%: Chidambaram
Parsvnath Developers Q3 net at Rs 112.571 cr
Reliance Comm Q3 net up 49%, beats forecast
GDP records impressive growth of 9.6% in 2006-07

UTV among 34 FDI proposals cleared
49% foreign investment in credit info cos allowed
Bank of Baroda Q3 net grows 52% at Rs 501 cr
Prithvi Info Q3 net rises
US Fed fixes interest rate at 3.0 percent



Source: www.sify.com/finance . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

ET and MC top stories

http://economictimes.indiatimes.com/



India to add $100 bn to forex reserve in '08
Plan a basket of debt instruments
SEBI to make close-ended MF schemes attractive
--------------------------------------------
TN Govt warns MRF unit takeover if lockout not lifted
Mittal, Ambanis, Premji score high on wealth charts
Essar to raise $2 bn, ramp up unit by March
Tatas may get full control of Jaguar, Land Rover
Marico Industries reports impressive numbers for Dec quarter

Bharti Airtel gets additional spectrum in five circles
Reddy tells banks to cut interest rates
RBI tells banks to shed gilts and lend to job creators
RBI warns of overall inflationary pressures
RBI's decision has spooked real estate cos

Reddy speaks out
Analysts' picks: Spicejet, L&T, Kalindee Rail Nirman, Exide
Market nervous; Sensex down 300 points
TCS cuts staff salaries in tune with tough times
TCS bags $200 mn contract from Sun Life Financial

------------------------------------------------
Moneycontrol.com

Union budget to be favourable for tax-payers: PN Vijay
SEBI okays draft proposals for debt sec listing
New FDI policy for aviation, petchem, mining unveiled

Budget will wash excesses from mkt: Dalal
Slim chance of Fed rate cut tonight
Phoenix Mills to build 50 malls in 3-4 yrs
OnMobile Global IPO subscribed 11 times

SQL Star Q3 revenue up 51%, PAT up by 56%
Jubilant Organosys Q3 PAT up 40% at Rs 894 mn
What experts say about IRB Infrastructure IPO?

Majority of experts say don't apply for Shriram EPC




Source: www.theeconomictimes.com and http://www.moneycontrol.com . 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. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: Bharti, DLF, NTPC, IOB, BOB, SunPharma, MTNL, MandM, BajajAuto, HindZinc, TataChem, PowerGrid etc

Bharti Airtel Q3 net profit jumps 36% YoY
Bharti Airtel Q3 net up 42%

MUMBAI: Bharti Airtel's net profit for the quarter ended Dec 31, 2007 rose36.04 per cent to Rs 1,419.84 crore against Rs 1,043.69 crore in the same quarter of previous year. Total revenue increased 41.47 per cent to Rs 6,682.57 crore from Rs 4,723.68 crore a year ago. Consolidated results as per Indian GAAP: The group's net profit for the October-December quarter rose 38.25 per cent to Rs 1,428.56 crore compared with Rs 1,033.34 crore in the corresponding quarter of earlier year. Total income grew 42.40 per cent to Rs 7,017.95 crore from Rs 4,928.18 crore in last year. Consolidated results as per US GAAP: The group posted a net profit of Rs 1,722.40 crore for the third quarter, a growth of 41.74 per cent compared with Rs 1,215.13 crore in the same period of year earlier. Total revenue increased from Rs 4,912.92 crore to Rs 6,963.90 crore in the current year. At 10:42 am, Bharti Airtel shares were up 1.01 per cent at Rs 858.95 on BSE.



Bank of Baroda Q3 net profit jumps 52% YoY
Bank of Baroda net profit for the quarter ended Dec 31, 2007 rose 52.23 per cent to Rs 501.05 crore against Rs 329.13 crore in the same quarter of previous year. Total income increased 35.68 per cent to Rs 3,620.18 crore from Rs 2,668.11 crore a year ago


DLF Oct-Dec consolidated net $544.4 mn
Real estate developer DLF Ltd reported a consolidated net profit of 21.45 billion rupees ($544.4 mn) for the October-December quarter. Its standalone net profit was 6.06 billion rupees. The company, which was listed in the middle of last year, did not give year-ago numbers.

NTPC Q3 net profit falls 15.37%
National Thermal Power Corporation’s net profit fell 15.37 per cent to Rs 1779.9 crore for December quarter, as compared to Rs 2103.3 crore for the same quarter a year ago. Total Income increased 8.4 per cent to Rs 10,093.2 crore from Rs 9,311 crore.

IOB Q3 net profit grew 24% YoY
Indian Overseas Bank net profit rose 24.88 per cent to Rs 308.19 crore for the quarter ended Dec 31, 2007 compared with Rs 246.78 crore in the same quarter of 2006. Total income increased 42.74 per cent to Rs 2,295.35 crore from Rs 1,608.07 crore a year ago.

Sun Pharma share up 6.6% as Q3 profit rises 109%
Sun Pharmaceuticals net profit rose 109.49 per cent to Rs 345.93 crore in the quarter ended Dec 31, 2007 compared with Rs 165.13 crore in the same quarter of 2006. Net sales increased 75.61 per cent to Rs 733.91 crore for the October-December quarter against Rs 417.91 crore in same quarter of previous year. The group's net profit grew 60.10 per cent to Rs 318.35 croe from Rs 198.85 crore a year ago. Net sales increased 48.87 per cent to Rs 803.97 crore against Rs 540.04 crore in the earlier year.

Bajaj Hindustan Q3 net profit up 71% YoY
Bajaj Hindustan’s net profit 71.70 per cent rose to Rs 29.67 crore in the quarter ended Dec 31, 2007 compared with Rs 17.28 crore in the same quarter of 2006. Net sales increased 19.99 per cent to Rs 286.64 crore from Rs 343.95 crore a year ago.

Mercator posts 98% surge in net for Q3
Domestic shipping line Mercator has registered a 98 per cent surge in net profit at Rs 58.72 crore for the third quarter as against Rs 29.69 crore in the same period last year. The company's operating profit grew by 113 per cent at Rs 160.54 crore during the period ending December 7, against Rs 75.44 crore in the corresponding period last year, Mercator said in a release. The company's income from operations in third quarter rose by 7 per cent to Rs 196.10 crore, against Rs 182.93 crore in the same period last year. Besides, Mercator Board has allowed raising 300 million dollars money through foreign currency convertible bonds or through GRD and ADR, the release added

MTNL Q3 net profit falls 97% YoY
Mahanagar Telephone Nigam net profit fell 53.19 per cent to Rs 97.64 crore for the quarter ended Dec 31, 2007 compared with Rs 208.60 crore for the same quarter ended in 2006. Total income decreased 7.08 per cent to Rs 1,326.91 crore from Rs 1428.03 crore a year ago.

Berger Q3 net rises 4.4 pc to Rs 23.25 crore

M&M Q3 net up 67%
Auto major Mahindra & Mahindra (M&M) on Wednesday posted 67.63 per cent increase in profit after tax at Rs 405.15 crore for the quarter ended December 2007, compared to Rs 241.68 crore for the same quarter in 2006. Total income of the company grew by 13.86 per cent to Rs 2,980.25 crore for the third quarter this fiscal from Rs 2,617.30 crore for the corresponding quarter of the previous fiscal, the company informed the BSE.

Bajaj Auto Q3 net down 5%
Bajaj Auto Ltd said on Wednesday its quarterly net profit fell 5 per cent, missing analyst forecasts, on volatile raw material costs and sluggish sales due to firm interest rates.
Its shares fell 6.5 per cent to Rs 2,223.95 in a weak Mumbai market.
Bajaj, which also makes scooters and leads the market for three-wheeled motorised rickshaws, said net profit fell to Rs 327 crore ($83 million) in the fiscal third quarter to Dec. 31 from Rs 345 crore reported a year earlier.
Consensus forecast for net profit was Rs 344 crore in a Reuters poll of 10 analysts.
Pune-based Bajaj sold 713,443 units in the December quarter, a 3.4 per cent fall from the same period a year earlier.

Hindustan Zinc Q3 net dips 41.20%
Hindustan Zinc Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a net profit of Rs 785 crore for the quarter ended December 31, 2007 as compared to Rs 1335 crore for the quarter ended December 31, 2006. Total Income has decreased from Rs 2546 crore for the quarter ended December 31, 2006 to Rs 1769 crore for the quarter ended December 31, 2007.

Jindal Stainless Q3 net dips 55.24%
Jindal Stainless Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a net profit after tax of Rs 50.6 crore for the quarter ended December 31, 2007 as compared to Rs 113.05 crore for the quarter ended December 31, 2006.



Tata Chemicals Q3 net dips 41.55%
Tata Chemicals Ltd has announced the following audited results for the quarter ended December 31, 2007: The company has posted a net profit after tax of Rs 125.48 crore for the quarter ended December 31, 2007 as compared to Rs 116.77 crore for the quarter ended December 31, 2006. Total income has decreased from Rs 1318.81 crore for the quarter ended December 31, 2006 to Rs 1236.52 crore for the quarter ended December 31, 2007.
The audited consolidated results are as follows: The group has posted a net profit after tax of Rs 91.09 crore for the quarter ended December 31, 2007 as compared to Rs 155.85 crore for the quarter ended December 31, 2006. Total income has decreased from Rs 1793.7 crore for the quarter ended December 31, 2006 to Rs 1712.67 crore for the quarter ended December 31, 2007.

Power Grid Corporation Q3 net up 13.9% at Rs 384.28 cr
Power Grid Corporation of India Ltd has announced the following unaudited results for the quarter ended December 31, 2007:
The company has posted a profit after tax of Rs 384.28 crore for the quarter ended December 31, 2007 as compared to Rs 337.27 crore for the quarter ended December 31, 2006. Total Income has increased from Rs 1004.80 crore for the quarter ended December 31, 2006 to Rs 1193.77 crore for the quarter ended December 31, 2007.


Merck Q4 net at Rs 68.82 cr
GMDC Q3 net up 77% at Rs 93.25 cr
JB Chemicals Q3 net dips 45.3%

Voltamp Transformers net up 118% at Rs 22.73 cr
Cummins India Q3 net up 18.63% at Rs 74.61 cr
IOB Q3 net up 24.88% at Rs 308.18 cr

Aditya Birla Nuvo Q3 net up 59.36% at Rs 84 cr
IndusInd Bank Q3 net up 15.76% at Rs 25.04 cr
Andhra Bank Q3 net up 16.68% at Rs 159.0207 cr

OBC Q3 net dips 24.08% at Rs 138.48 cr
Aurobindo Pharma Q3 net at Rs 55.25 cr
DLF Q3 net at Rs 2,145 cr
Lanco Infratech Q3 net up 32.69% at Rs 82.519 cr




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