ET Headlines

Sona Oke Gawa acquires precision forging biz of ThyssenKrupp
Cummins India bets big on auto engines
Kew Industries to conisder supply to Tata Metaliks
Ispat offers to supply steel for Tata Motor's Nano


M&M set to roll out 10 new vehicles in 3 yrs
Caparo Group setting up component plant for Tata Nano
Volkswagen partners with PCH, launches Passat Sedan
Folks Vahana: Gods, People & Auto Branding



Private oil companies need not set up subsidiaries to buy assets abroad
OPEC rejects US call for more oil
MRPL offers H2 February Mangalore lot
ONGC, Gail & OIL to jointly pay 7,083 cr for subsidising auto and cooking fuels
Fuel price panel may not meet this week: Source
Fuel price hike not likely before January 28: Deora
Weather, not recession fears, to drive fuel prices


Larsen & Toubro bags Rs 1,695-cr Kuwait order to supply reactors
GIC & JP Morgan to acquire 21% stake in Ballarpur Paper Holdings

Market may remain flat in near-term until FIIs return
Equities to open lower on global weakness
Stocks to watch on Monday
FIIs pull out over Rs 5300 cr in six days
Heard on the street


Traders with long positions in for some tough times
Technical Outlook: Nifty to test the sanctity of the bull run
Metals, oil & gas shares worst hit in market meltdown
Just 1 in 20 stocks holds fort in market meltdown
Unlisted firms stopped from raising funds through ADR or GDR
Suzlon Energy, Jindal Steel & Power go ex-date
Motilal puts 'buy' on Tata Power


IPOs

IPO: OnMobile Global and IRB Infrastructure
IRB Infra Developers IPO to raise up to 11 bn rupees
Emaar MGF Land IPO priced Rs 610-690/share
Bang Overseas IPO opens Jan 28

Insurers may invest in Rs 200 cr IPOs
Spice plans $100 mn mobile services IPO
Dubai's Emaar to raise $1.8 bln in India unit IPO
KNR Constructions IPO opens Jan 24
Enough appetite for IPOs provided pricing is right: Bhanshali


ET Features

Investor's Guide

Invest in Dena Bank with a 2 year horizon
Derivatives diary: Learn the stop-loss levels
Lot's more in Engineers Indiabs stock
OnMobile Global: Raising money
Liquidity is charting new territories across the globe
Derivatives diary: Learn the stop-loss levels
Times of high volatility


Liquidity is charting new territories across the globe
Bears loom large
Engineered to succeed
Cords Cable coming out with an IPO
Invest in Dena Bank with a 2 year horizon
Stocks to pick: Tata steel, TCS, Petronet LNG

Results:

Omax Auto net falls 67% in Dec`07 qtr

Omax Autos witnessed a 67% decline in net profit for the quarter ended December 2007, at Rs 20 million, as against Rs 66.60 million for the same quarter of the previous year.
The total income for the latest quarter stood at Rs 1,744.20 million, as against Rs 1,821.20 million in the corresponding quarter, previous year, reflecting a marginal decline of 4.22%.

Sterlite Technologies Q3 net zooms 2.05 times

Sterlite Technologies reported an excellent earnings growth of 2.05 times in the third quarter ended Dec. 31, 2007, to Rs 264 million compared with Rs 128.70 million in the same quarter, last year. The earnings per share (EPS) for the quarter jumped 84.93% to Rs 4.05 compared with Rs 2.19 in previous year period.Net sales for the quarter jumped 59.91% to Rs 5,020.30 million, while the total income for the quarter surged 59.96% to Rs 5,022 million, when compared with the corresponding quarter, a year ago.



Religare reports Rs 336.17 mn consolidated net profit in Q3 Religare Enterprises announced today that its consolidated profit after tax in the quarter ended December 2007 stood at Rs 336.17 million, up 93% over Rs 361.85 million in first half of FY07-08. The profit after tax in 9 months ended December 2007 was Rs 700.45 million.The consolidated revenue of the company in quarter ended December 2007 was stood at Rs 2,880.22 million, up 93.5% over Rs 3,079.63 million in first half of FY07-08. The revenue for nine month ended December 2007 was Rs 5,959.85 million.

Titan Industries Q3 earnings climb 11.98%

Titan Industries reported today a rise of 11.98% in earnings in the quarter ended Dec. 31, 2007, to Rs 308.40 million compared with Rs 275.40 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 12.10% to Rs 6.95 compared with Rs 6.20, a year ago.Net sales for the quarter surged 53.73% to Rs 8,134.50 million, while the total income for the quarter jumped 49.87% to Rs 8,139 million, when compared with the corresponding quarter, a year ago.

HDFC Bank Q3 net jumps 45%

Leading private sector lender, HDFC Bank reported today a jump of 45.23% in earnings in the quarter ended Dec. 31, 2007, to Rs 4,293.60 million compared with Rs 2,956.40 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 26.59% to Rs 11.90 compared with Rs 9.40 in prior year period.The interest earnings of the bank surged 55% to Rs 27,269 million, while the total income for the quarter jumped 59.70% to Rs 34,057.90 million, when compared with the corresponding quarter, a year ago.

Balmer Lawrie Q3 net rises 6.10%

Balmer Lawrie reported a marginal rise of 6.10% in earnings in the quarter ended Dec. 31, 2007, to Rs 199.9 million, compared with Rs 188.4 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 6.05% to Rs 12.27 compared with Rs 11.57 in prior year period.Net sales for the quarter climbed 9.07% to Rs 3,471.90 million, as gainst Rs 3,183.20 million in the same period of previous year, while the total income for the quarter dropped 9.07% to Rs 3,501.10 million, when compared with the corresponding quarter, a year ago.


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Madras Aluminium Q3 net drops 70%

Madras Aluminium Company announced today a substantial fall of 70% in earnings in the quarter ended Dec. 31, 2007, to Rs 147.10 million compared with Rs 490.70 million in the same quarter, last year. The earnings per share (EPS) for the quarter declined 70% to Rs 6.54 compared with Rs 21.81 in prior year period.Net sales for the latest quarter fell 11.09% to Rs 1,100.50 million, from Rs 1,237.80 in the previous year period, while the total income for the quarter dropped 13.24% to Rs 1,166.60 million, when compared with the corresponding quarter, a year ago.

Gati Q3 earnings surge 2.22 times; sales fall 3.19%

Gati announced today a jump of 2.22 times in earnings in the quarter ended Dec. 31, 2007, to Rs 124.90 million compared with Rs 42.60 million in the same quarter, last year. The earnings per share (EPS) for the quarter surged 2.51 times to Rs 1.51 compared with Rs 0.60 in prior year period.Net sales for the quarter fell 3.19% to Rs 1,345.30 million, while the total income for the quarter dropped 2.85% to Rs 1,354.90 million, when compared with the corresponding quarter, a year ago.


Finolex Industries net drops 5.73% in Dec`07 qtr

Finolex Industries announced today (Monday) a fall of 5.73% in earnings in the quarter ended Dec. 31, 2007, to Rs 215.72 million compared with Rs 228.84 million in the same quarter, last year. The earnings per share (EPS) for the quarter plunged 5.95% to Rs 1.74 compared with Rs 1.85 in prior year period.

Edelweiss Capital consolidated net triples for Dec`07 qtr

Edelweiss Capital, a diversified financial services company, posted 3 fold jump in consolidated net profit to Rs 924.30 million for the quarter ended Dec. 31, 2007, as against Rs 309.20 million for the quarter ended Dec. 31, 2006.
Total Income increased 3.29 times from Rs 980.70 million for the quarter ended Dec. 31, 2006 to Rs 3,235.30 million for the quarter ended Dec. 31, 2007.
On Standalone basis, the company reported 38.15% decline in net profit to Rs 41.50 million for the quarter ended Dec. 31, 2007 as compared to Rs 67.10 million for the quarter ended Dec. 31, 2006.

Neyveli Lignite Q3 net rises 33.94%

Neyveli Lignite Corporation announced today a rise of 33.94% in earnings for the quarter ended Dec. 31, 2007, to Rs 2,044.80 million compared with Rs 1,526.60 million in the same quarter, last year. The earnings per share (EPS) for the quarter climbed 34.06% to Rs 1.22 compared with Rs 0.91 in prior year period. Rise in operating margin together with strong revenue growth helped the company to report good set of numbers. Operating margin in the quarter rose to 37.81%, representing a rise of 69 basis points when compared with prior year period.


Kotak Mahindra Bank consolidated net jumps 2.14 times in Dec`07 qtr
Kotak Mahindra Bank reported a jump of 2.14 times in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 3,637.33 million compared with Rs 1,695.77 million in the the same quarter, last year. The consolidated total income for the quarter surged 2.08 times to Rs 24,827.16 million compared with the corresponding quarter, a year ago.On a standalone basis, Kotak Mahindra Bank registered a growth of 2.24 times in earnings in the quarter ended Dec. 31, 2007, at Rs 1,016.66 million compared with Rs 454.01 million in the prior year period. The total income for the quarter surged 96.05% to Rs 8,871.90 million compared with the corresponding quarter, a year ago.

Shanthi Gears net up 17.55% for Dec`07 qtr
Shanthi Gears registered growth of 17.55% in net profit to Rs 119.02 million for the quarter ended Dec. 31, 2007, from Rs 101.25 million in the corresponding quarter, last fiscal.
Net sales stood at Rs 638.57 million in the quarter ended Dec. 31, 2007, as against Rs 518.41 million in the same period last year, recording a growth of 23.18%.


Bharat Forge consolidated net drops 7.79% in Dec`07 qtr
Bharat Forge reported today a drop of 7.79% in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 709.57 million compared with Rs 769.57 million in the same quarter, last year. The consolidated total income for the quarter climbed 6.01% to Rs 10,994.35 million compared with the corresponding quarter, a year ago. On a standalone basis, Bharat Forge (Q, N,C,F)* registered a fall of 7.61% in earnings in the quarter ended Dec. 31, 2007, to Rs 581.79 million compared with Rs 629.73 million in the same period, previous year. The earnings per share (EPS) for the quarter dropped 9.57% to Rs 2.55 compared with Rs 2.82 in the same period, a year ago.

ONGC net down 6.46% in Dec`07 qtr
Oil & Natural Gas Corporation (ONGC) registered a fall of 6.46% in net profit to Rs 43,665.40 million for the quarter ended December 2007 as compared with Rs 46,683.10 million in the corresponding quarter, last fiscal.
Net sales for the quarter declined 2.85% to Rs 151,208.30 million as against Rs 15,5645.20 million in the same quarter, a year ago.
Total income for the quarter dipped 1.75% to Rs 159,838.10 million from Rs 162,690.10 million in the corresponding quarter, last year.

Jindal Stainless net drops 55.24% in Dec`07 qtr
New Delhi-based steel manufacturer Jindal Stainless (Q, N,C,F)* reported 55.24% decline in net profit to Rs 506.00 million for the quarter ended December 2007, as against Rs 1,130.50 million in the same quarter, last year.
Net sales for the quarter fell 6.71% to Rs 13,485.70 million as compared with Rs 14,455.90 million in the corresponding quarter, a year ago.
Total income slid 5.86% to Rs 13,663.00 million as against Rs 14,513.80 million in the same quarter, a year ago.
The earnings per share (EPS) stood at Rs 2.79 for December 2007 quarter.


Tanla Solutions net up 59.33% for Dec`07 qtr
Hyderabad-based telecommunications software and services provider Tanla (Q, N,C,F)* Solutions, reported 59.33% increase in net profit to Rs 221.07 million for the quarter ended December 2007 as against Rs 138.75 million in the same quarter, last year.
Net sales for the latest quarter climbed 56.72% to Rs 335.27 million as compared to Rs 213.93 million in the corresponding quarter, a year ago.
Total income surged 81.24% to Rs 394.86 million as against Rs 217.87 million in the same quarter, a year ago.


Hi-Tech Gears net up 23.52% in Dec`07 qtr
Hi-Tech Gears reported 23.52% increase in net profit to Rs 22.79 million for the quarter ended December 2007 as against Rs 18.45 million in the same quarter, last year.


Nucleus Software net down 5.95% in Dec`07 qtr
Nucleus Software Exports registered a 5.95% fall in net profit to Rs 100.33 million for the quarter ended December 2007 as compared with Rs 106.68 million in the corresponding quarter, last year.

Satyam Consolidated net up 29% in Q3 (update)
IT major, Satyam Computer (Q, N,C,F)* Services announced its December 2007 quarter results today (Monday).
On a Consolidated basis (as per Indian GAAP), the Group posted a 28.59% jump in net profit at Rs 4,336.30 million for the quarter ended December 2007 as compared to Rs 3,372.30 million for the quarter ended December 2006.
Total Income has increased 35.59% to Rs 22,660.50 million for the quarter ended December 2007 from Rs 16,712.90 million for the quarter ended December 2006.

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Centurion Bank Q3 net profit up at Rs 48.27 cr
21st-Jan-2008

Centurion Bank of Punjab has announced its third quarter numbers. It has posted standalone net profit of Rs 48.27 crore for the quarter ended December 2007 as against Rs 33.61 crore in same period of previous year and net interest income of Rs 189.95

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Sensex crashes 1400 pts; R-Com, NTPC worst hit : ET

Sensex crashes 1400 pts; R-Com, NTPC worst hit

Market fall continues, Sensex slips over 692 points
Sensex crashes 1400 pts; R-Com, NTPC worst hit
REL raises Rs 7835 cr through allotment of warrants to group co
Blood-bath on Dalal Street; Sensex ends 1400 points down

Bears go for the kill; Sensex sheds 1408 pts
BJP demands SEBI's intervention in stock market crash
Shares slide at open on global weakness
Sensex off early lows; selling not ruled out

Sensex tanks over 1600 pts
Biggest intra-day fall ever: Sensex down 1600 pts
Investors lose over $300 bn in six days
Markets will grow in orderly manner: PM
Sensex saw biggest ever fall
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Large-cap stocks may pay dividends22 Jan, 2008, 0715 hrs IST, TEAM ET ,TNN
Investors have seen their sector funds do well as compared to the Sensex over past 1 year. In pics: Sensex Crash I Quotes: Sensex CrashI Sensex fall: Full Coverage


Market Analysts: It's time to look for value stocks
Is the Indian market overvalued?
Sensex 2nd most expensive emerging market index
Asian stock markets tumble

Sensex crashes by over 1400 pts

Sensex crashes by over 1400 pts
The 10 biggest falls in Sensex history

SENSEX 17605.35 -1408.35
NIFTY5208.80 -496.50

Following the hefty 1,814-point loss last week, the Sensex opened with a negative gap of 94 points at 19,014, and continued to drift deeper into red as the day progressed.
Relentless selling in the last session saw the index tumble to a low of 16,951 - down 2,063 points (10.8%) from the previous close. (Since the index had dropped over 10% after 1400 hrs, the circuit limit was placed at 15%).
Bargain hunting at lower levels saw the index recover some ground, and finally end at 17,605 - down 1,408 points (7.4%); the biggest-ever loss in absolute terms and also the first-ever four digit loss for the index.
While the Midcap Index plunged 1,012 points (11.4%) to 7,882, the Smallcap Index tumbled 1,249 points (10.3%) to 9,443.
The NSE Nifty shed 496 points (8.7%) at 5,209.
The BSE breadth was extremely negative - out of 2,810 stocks traded, 2,657 declined, 139 advanced and 14 were unchanged.
Index Shakers
Reliance Energy [Get Quote] and ACC crashed around 16% each to 1,776 and Rs 728, respectively.
Bajaj Auto [Get Quote] tumbled over 15% to Rs 2,064. NTPC slumped over 14% to Rs 206, and Reliance Communications [Get Quote] plunged nearly 13% to Rs 613.
Hindalco [Get Quote] and DLF dropped over 10% each to Rs 166 and Rs 904, respectively.
Grasim [Get Quote] and Reliance slipped over 9% each to Rs 3,025 and Rs 2,544, respectively.
Tata Motors [Get Quote], BHEL and ONGC [Get Quote] declined around 8% each to Rs 654, Rs 2,114 and Rs 1,114, respectively.
Mahindra & Mahindra, Tata Steel [Get Quote] and TCS [Get Quote] shed 7.5% each at Rs 673, Rs 722 and Rs 836, respectively.
SBI [Get Quote] and Hindustan Unilever dropped around 7% each to Rs 2,200 and Rs 200, respectively.
Larsen & Toubro, Ranbaxy [Get Quote] and Cipla were down 6% each at Rs 3,689, Rs 363 and Rs 190, respectively.
ICICI Bank [Get Quote] and HDFC [Get Quote] declined nearly 6% each to Rs 1,173 and Rs 2,660, respectively.
Bharti Airtel [Get Quote], Infosys [Get Quote], ITC, Maruti [Get Quote], HDFC Bank, Ambuja Cements and Wipro [Get Quote] were down 3-5% each.
Value & Volume Toppers
Reliance topped the value chart with a turnover of Rs 663.60 crore followed by Reliance Natural Resources [Get Quote] (Rs 491.70 crore), Reliance Energy (Rs 466.40 crore), Reliance Petroleum [Get Quote] (Rs 456.80 crore) and Reliance Capital [Get Quote] (Rs 340.50 crore).
Reliance Natural Resources led the volume chart with trades of around 2.75 crore shares followed by Ispat Industries [Get Quote] (2.55 crore), Reliance Petroleum (2.47 crore), Tata Teleservices [Get Quote] (1.53 crore) and IFCI (1.49 crore).

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Govt warns investors• FIIs pull out over Rs 5,300 crore

Sensex crashes by 1408 pts; Nifty ends nearly 500 pts down

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What is market correction? Who won, who lost?
10 biggest falls in Sensex history Your say
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Biggest-ever loss: Sensex plunges 1,400 points
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The 10 biggest falls in Sensex history
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These media stocks could make you

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Black Monday again: Biggest ever point-fall for mkts

Investor wealth worth Rs 6.6 lakh cr wiped out

Pace of correction unnerving: Raamdeo Agrawal

US holds key to mkts' behaviour tomorrow: Experts

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Mid-caps go back to discount to Sensex

India's Sensex Falls Most in Four Years:

Sensex tumbles; Govt blames global risks;