The Economic Times Stories

http://economictimes.indiatimes.com/


Mkt pullback to close off day's lows
Bears show no respite; Sensex slumps 383 points
List BSNL: Move to capital market ways
R Power IPO subscribed 13.85 times
Prabhudas Lilladher picks: Maruti, Amtek, Ahmednagar Forgings, Sona Koyo
In India it's the opposite: Sell gold, buy stocks
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ICICI adopts new policy to search for Kamath's successor
Dish TV in talks with Indian Railways for DTH services
Analysts' picks: Motilal Oswal, Mahindra Lifespace, Mahindra Lifespace, Larsen & Toubro, Infosys, Tata Motors
Heard on the street /Stocks to watch

Individuals need less rigorous tax regime
Insurance best retirement tool for Indians
Stocks to buy: Kotak Mahindra Bank, Titan Industries, Salora Intl, 3i Infotech, Colgate Palmolive
What's short-selling of shares?



Source: Economic Times. 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: TCS, Welspun Guj, Petronet, MRPL, India cement, Allahabad Bank, LIC Hsg, Chambal etc

TCS Q3 consolidated net rises 18.87% (Update)

India`s largest software exporter, Tata Consultancy Services (TCS) registered a 18.87% rise in consolidated net profit supported by healthy revenues for the quarter ended December, 2007. During the quarter, the company saw a rise in consolidated profits to Rs 13,266.70 million from Rs 11,161 million in the same quarter last year. The consolidated total income for the quarter climbed 23.04% to Rs 60,419.8 million compared with the corresponding quarter, a year ago. Q3 Highlights: > 54 new clients added in Q3> 7522 employees joined in Q3> Standalone net profit rose 2.78% on Q-o-Q > Standalone net sales climbed 5.63% on Q-o-Q > Standalone total income went up 5.55% on Q-o-Q > EPS at Rs 13.56 in Q3> Quarterly dividend of Rs 3 a share.

TCS Q3 standalone net profit up 2.7%
16 Jan, 2008, 1938 hrs IST
Tata Consultancy Services’ standalone net profit for the quarter ended December 31, 2007 was Rs 1,178.99 crore, marginally higher from Rs 1,147.11 crore reported in the same quarter previous year.

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Welspun-Gujarat Stahl Rohren Q3 net profit jumps 136%

Welspun-Gujarat Stahl Rohren October-December net profit jumped 136.40 per cent to Rs 97.4 crore from Rs 41.2 crore in the same quarter a year ago. Total income for the quarter increased to Rs 1,038.6 crore from Rs 745.6 crore in the year-ago period. At 2:46 pm, Welspun-Gujarat Stahl Rohren shares were down 3.98 per cent at Rs 492 on BSE.
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Allahabad Bank Oct-Dec net up 27.6%

State-run banker Allahabad Bank reported a net profit of Rs 3,650.50 million in the three months ended December 31, 2008 versus Rs 2,861.28 million in the corresponding period. The interest income was Rs 15,834.89 million as compared to Rs 13,049.57 million in the said quarter. A poll of analysts had forecast a net profit of Rs 2,580 million.

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Asian Granito Oct-Dec net Rs 7.36 crore

Asian Granito India Ltd on Wednesday reported a net profit of Rs 7.36 crore in Oct-Dec on net sales of Rs 51.5 crore. Comparable year-ago figures were not immediately available for the company that listed in August 2007.

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Mangalore Refinery’s Q3 net profit up 192.59% YoY

Mangalore Refinery’s net profit for the quarter ended December 31, 2007 was Rs 346.60 crore, up from Rs 118.46 crore in the same quarter of previous year. Net sales for the period increased 11.28 per cent to Rs 8,138.28 crore, from Rs 7,313.30 crore a year ago. Other income for the December quarter fell 63.38 per cent to Rs 30.81 crore against Rs 84.14 crore same quarter last year. Both the figures include net exchange fluctuation gains of Rs 12.84 crore and Rs 72.77 crore, respectively. Wednesday on BSE, MRPL shares closed down 2.74 per cent at Rs 127.70.

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Petronet LNG Q3 net profit up 54.01% at Rs 131.07 cr

Petronet LNG reported a net profit of 54.01% for the quarter ended December at Rs 131.07 crore vs Rs 85.1 crore in the same quarter a year ago. Total income grew to Rs 1,593.09 crore from Rs 15,847.26 in the same period. At 2:14 pm, Petronet LNG shares were at Rs 105.25, down 4.36 per cent.
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India Cements Q3 net profit up 59%

India Cements’ net profit for the quarter ended December 31, 2007 rose 59.25 per cent to Rs 127.05 crore compared with Rs 79.78 crore in the same quarter of previous year. Total income for the October-December quarter increased 57.66 per cent to Rs 857.56 crore, from Rs 543.92 crore a year ago. The accounts for the current quarter have been prepared after taking into account the transactions of erstwhile Visaka Cement Industry Ltd and are therefore not comparable with the corresponding figures of previous period. At 1:13 pm, India Cements shares were down 6 per cent at Rs 257.60 on BSE.

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LIC Housing Finance Q3 net profit rises 38%

LIC Housing Finance net profit after tax rose 38.39 per cent to Rs 106.02 crore for the quarter ended December 2007 compared to Rs 76.61 crore in the same quarter last year. Total income increased to Rs 551.62 crore from Rs 404.10 crore year earlier.

Chambal Fertilizers Q3 net profit down 10% YoY
Wallfort posts Rs 12.03 crore net profit in Q3; share up 5%
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Infotech Ent Q3 net profit at Rs 17.7 cr
16th-Jan-2008
Infotech Enterprises announced its Q3 FY08 numbers.In the third quarter of FY08, its net profit was at Rs 14.78 cr versus Rs 23 cr in the previous quarter. During the same period, its net sales were at Rs 113 crore versus Rs 161 crore, QoQ.

Zuari Ind Q3 net profit up at Rs 30.92 cr
16th-Jan-2008
Zuari Industries has announced its third quarter results. The company’s Q3 net profit was up at Rs 30.92 crore versus Rs 12 crore.
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TCS Q3 consolidated net rises 18.87% (Update)

Himadri Chemicals net rises 29.59% in Dec`07 qtr
Himadri Chemicals & Industries disclosed a steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 29.59% rise in profit to Rs 218.10 million from Rs 168.30 million in the quarter ended December 2006.Net sales for the quarter rose 3.77% to Rs 901.30 million compared with Rs 868.50 million in the corresponding quarter, a year ago.

Rallis India net up 61.15% for Dec`07 qtr
Rallis India reflected a conspicious rise in net profit of 61.15 % during the quarter ended Dec. 31, 2007, of Rs 140.20 million, as against Rs 87 million in the same quarter of the previous year.
The total income for the above quarter was at Rs 1842.80 million as against Rs 1756.90 of the previous, revealing a marginal 4.89 % rise.
The Net Sales of Rallis India (Q, N,C,F)* for the quarter ended Dec. 31, 2007, were at Rs 1831.40 million, rising marginally 6.36%, as against Rs 1,721.90 million in the same quarter of the previous year.

MRPL Q3 net zooms 2.93 times
Zuari Industries Q3 net 2.52 times on better margins
Shree Ganesh Forgings net surges 70.52% in Dec`07 qtr
State Bank of Mysore net rises 29.04% in Dec `07 qtr
Vardhman Textiles Q3 net slips 22.24%
Petronet LNG net rises 54.03% in Dec `07 qtr
Allahabad Bank Q3 earnings rise 27.58%
LIC Housing Q3 net climbs 38.39%; income rises 36.17%
India Cements net up 59.25% for Dec`07 qtr
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Results Calender

Auto Stampings 17-Jan-08

Biocon 17-Jan-08

Chemplast Sanma 17-Jan-08

Eastern Silk 17-Jan-08

Emco 17-Jan-08

Financial Tech 17-Jan-08

Godrej Consumer 17-Jan-08

HCL Tech 17-Jan-08

Hikal 17-Jan-08

HT Media 17-Jan-08

IDBI 17-Jan-08

Indiabulls 17-Jan-08

JBF Industries 17-Jan-08

KPIT Cummins 17-Jan-08

Natura Hue C 17-Jan-08

NDTV 17-Jan-08

Orchid Chemical 17-Jan-08

Ranbaxy Labs 17-Jan-08

Reliance 17-Jan-08

Reliance Energy 17-Jan-08

Reliance Natura 17-Jan-08

S Kumars Nation 17-Jan-08




Source: Myiris.com, Economic Times, Indiaearnings.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.

Moneycontrol, Myiris Stories

Moneycontrol.com

Don’t enter at these levels, say experts
Immature complacency in mkts led to fall: Religare Sec
TCS looking to maintain margins at 24-25%
Correction seems over now: Amit Nalin Sec

What's the HNI view on Reliance Power IPO?
Major IT stocks touched their 52-week lows
Now Sterlite to list energy arm?
Future Capital IPO oversubscribed 131 times

CRISIL IPO grade 3/5 for IPO of V-Guard Industries
Infotech's total income crosses Rs 500cr in first 9 mths
MRPL Q3 net profit jump to Rs 346.6 cr
UTV Software puts on a good show

Asian Electronics in pact with HPCL, Future Group
Nifty has seen 4 major selloffs since October
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Myiris.com

Brokers Outlook: Market may bounce back on Thursday
Technical view: Further declines expected
Dr Reddy`s launches Supanac
Gitanjali Gems floats 5 new subsidaries for SEZ works
JSW Steel buys mining concessions in Chile for USD 52 mn
Emkay recommends a `BUY` on Aban Offshore
PTC India to raise about Rs 12 bn



Source: Above sites. 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

Jacob Ballas Too Picks Up Rs 40 Cr Worth Shares In Mahindra Holidays
FIPB Clears Blackstone-Ushodaya Deal; But Will The Fund Sign The Check?
PE-Backed Shriram EPC IPO Gets ‘Average’ Rating From Crisil

Essar’s Kenyan Safari: Acquires Stakes In Refinery, Telco
Avesthagen IPO By Year-End; To Raise $200-300 Million Through Share Sale
Axis Bank’s Private Equity Arm To Close Its $500 Million Infra Fund Soon

ICICI Venture’s I-Ven Medicare To Rope In Strategic Partner; Plans IPO
ICICI Venture Invests Rs 65 Crore In Kolkata Hospital Chain Medica Synergie
Buzz & Hype: Reliance Power IPO Oversold 11 Times On Day One

UK’s Ashmore Invests $23 Million In Hyderabad Hospital Chain Quality Care
Goldman To Buy 39% In M Pallonji Enterprises; To Up Stake In MetLife Insurance
Grameen Foundation, IFMR Trust, Citicorp Launch MFI-Focused Investment Bank

State-owned Telco BSNL Plans India’s Largest IPO To Raise $10 Billion
Inox To Invest Rs 100 Crore In Indiareit In Return For “Preferred Tenancy”
Inox To Invest Rs 100 Crore In Indiareit In Return For “Preferred Tenancy”

DE Shaw Invests $15 Million In Soham Renewable Energy
More Media Companies Follow BCCL With Private Treaty Divisions
New Vernon To Invest Rs 55 Crore For 9.5% Stake In Prime Securities

Power Finance Corp Joins Hands With Clear Trade For $1 Billion Fund
Nasscom-ICICI Knowledge Park’s $25 Million-Early Stage Fund Kicks Off
Evolvence India Life Sciences Fund Invests $30 Million In Gland Pharma

Clearstone Venture To Invest Rs 16 Crore In Elbee Express; More Deals
A Host Of Government Backed IPOs On Cards
PE-Backed Tecpro Makes Pre-IPO Placement of 5% To Credit Suisse, Kotak

Motilal Oswal Venture Capital Invests Rs 25 Crore In Domestic Focused Effort BPO
UK Asset Management Firm Somerset Picks Up 9% In Core Projects Parent
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IndiaPE.com

NIIT signs deal to buy 48% stake in Evolv
ICICI ropes in global healthcare investor
Essar seals deal to buy 50% stake in Kenyan refinery

Goldman Sachs arm eyes up to 39% stake in M Pallonji
Koutons Retail to buy 51% of Upper Class
India tops with 160 PE fund houses, China has 115

India tops 2007 Asian private equity league
Pearl Fashions to acquire 75% in Hong Kong-based Simple Approach
Clear Investments , PFC to float $1 bn PE fund

Essar arm buys 49% in Kenya-based Econet Wireless
Nasscom, ICICI arm join for Rs 100-cr VC fund
Evolvence invests Rs 120 crore in Gland Pharma expansion
Red Fort launches $250 million domestic Fund



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.

Sensex ends 383 pts down : Sify

Sensex ends 383 pts down
India's Sensex Falls to Three-Week Low;
Sensex tumbles by another 422 pts in

NSE 5935.75 -138.50
BSE 19868.11 -382.98



Taking global cues, equities, led by index heavyweights plunged sharply into the red and sent the benchmark BSE index Sensex crashing down by over 400 points in early trade today. The Nifty went down by over 125 points within minutes. There was a recovery of sorts around late morning but lack of support at higher levels saw sent the premier indices plunge far deeper into the red in afternoon trade.

Though a few blue chip stocks rebounded strongly from their lower levels during the closing minutes, the Sensex, which had plunged to a low of 19,513.25 - it was down with a massive loss of 738 points at that stage - in intra-day trades, ended the session with a huge loss of 382.98 points or 1.89% at 19,868.11 today.

The Nifty, which nosedived to a low of 5825.75 in afternoon trade, ended at 5935.75 with a big loss of 138.50 points at 5935.75.

Metal, power, capital goods, FMCG, realty stocks were among the worst hit today. Several auto, oil and bank stocks also had a weak outing.

Mid and smallcap stocks went down sharply once again. Mirroring the sell-off in these segments, the Midcap and Smallcap indices eased by 1.75% and 1.83% respectively.

ICICI Bank (1.35%) was the best performer from the Sensex pack today. Bharti Airtel, which opened on a very weak note, rallied smartly in afternoon trade to finish with a sharp gain of 0.9%. Tata Consultancy Services, which remained positive right through the session, closed with a gain of 0.7%. Mahindra & Mahindra (0.55%), Cipla (0.35%) and State Bank of India (0.3%) were the other gainers from the Sensex.

HDFC Bank (down 6.1%), Reliance Communications (down 5.85%), NTPC (down 5.55%), BHEL (down 4.4%), Reliance Energy (down 4.1%), DLF (down 4.1%), Tata Steel (down 3.9%), ITC (down 3.4%) and Hindalco (down 3.4%) closed with big losses.

Ranbaxy Laboratories, Maruti Suzuki, Tata Motors, HDFC, Satyam Computer Services, Reliance Industries and ACC ended 1% - 2% down from their previous closing levels. ONGC and Larsen & Toubro lost 1.85% and 1.75% respectively.

Grasim Industries, Wipro, Bajaj Auto, Ambuja Cements, Hindustan Unilever and Infosys Technologies lost 0.5% - 1% today.

Sterlite Industries, Unitech, Tata Power, Nalco, Cairn India, Idea Cellular, VSNL, Suzlon Energy, Punjab National Bank, HCL Technologies, ABB and Siemens finished with sharp losses today. SAIL, Zee Entertainment, BPCL and Reliance Petroleum closed with notable gains.

Omaxe, Lanco Infratech, GE Shipping, JSW Steel, Spice Telecom, Gillette, HTMT Global, Micro Inks, Essel Propack, Jaiprakash Associates, India Cements, Alok Industries, Birla Corporation, FDC and EIH Limited were among the prominent losers from BSE 'A' Group.

Indian Bank, MphasiS, Rashtriya Chemicals & Fertilizers, Apollo Tyres, IDBI, Procter & Gamble, Sun TV Network, Bank of India, IDFC, IndusInd Bank, CESC, Bharat Electronics, Novartis and Gujarat Narmada posted sharp gains today.

The market breadth was weak. Out of 2840 stocks traded on BSE, as many as 2207 stocks ended in the negative territory today. 615 stocks closed with gains and 18 stocks ended at their previous closing levels.

other sify stories:

NCC gets Rs 502 cr orders
Apollo Tyres to invest 200 m euro
Infy BPO to ink 4 deals worth $50-150 m
TCS Q3 net up 18.8% at Rs 1,327 crore

JSW Steel acquires eight mines in Chile for $52 m
MRPL Q3 net up 192.5% at Rs 346.60 cr
Welspun-Gujarat Stahl Q3 net up 136% at Rs 97.4 cr
Reliance Petro completes 82% of refinery

Essar Oil unit to buy half of Kenya Petro



Source: http://www.sify.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.

Apollo Tyres to invest 200 m euro