http://economictimes.indiatimes.com/
RBI ready to respond to market uncertainty
Twelve NRIs shine on global list of top tech dealmakers
SEBI panel to review IPO process in February: SEBI chief
Unfazed fund managers eye large-cap stocks
Rate cut hopes spur bank, auto shares; realty hit
Indian netizens world's third biggest online shoppers
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IQMS to acquire 51 pc stake in Object Xperts of US
Relief package for poultry industry likely
Tata set to buy stake in Deutsche Telekom: Report
Indian CEOs most optimistic on economic growth: Poll
KEI Ind to enter power generation business
Global majors line up for oil exploration under Nelp-VII
Aban Offshore gets ONGC contract worth Rs 6.57 bn
BHEL, Tiruchirapalli unit secures orders worth Rs 15K cr
India rises to second in ICC Test rankings
RBI may resort to balancing act in monetary policy
India could face export, capital flow risks: FM
India not vulnerable to US recession: S&P
Modi's Surat tops GDP race at 11.5%
ADAG bets big on rural insurance; clocks Rs 148 cr premium
US recession could be good news for Indian IT firms: Narayana Murthy
Should the RBI cut interest rates?
ET Features
Investor's Guide
Market fluctuation surprised even The Insider
Derivatives diary: These are uncertain times
'HPCL looking at E&P as a key growth driver'
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
Low beta stocks will never let you down
Global indices go below their previous intermediate bottoms
Infrastructure growth boosts GPIL
Stocks to buy: Bharti Airtel, Indiabulls Fin Services, Bank of India, HDFC Bank
Wockhardt Hospitals IPO expensively priced
Godrej Consumer Products a safer option
Will the bull run continue in 2008?
Source: http://economictimes.indiatimes.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.
28 January 2008
DeadPresident Blog (Stock, IPO views) Updates
http://deadpresident.blogspot.com
Highlights of Macroeconomic and Monetary Developments in India
Monetary Policy Review
Market recovers from day's lows
RBI Cut Tomorrow ?
Weekly Review - Jan 28 2008
Wealth Creation - Outlook 2008
Stock Recommendations - Jan 28 2008
Post Market Commentary - Jan 28 2008
Market Close: Smart recovery; regains 18k level!
Sensex trims losses on late buying
Auto, bank shares in focus ahead of monetary policy review
Jindal SAW
Gemini Communications, Dhanus Technologies, Take Solutions
Grey Market - IRB Infrastructure, Shriram EPC, Onmobile Global, KNR Constructions
Future Capital Holding 765 410 to 415Reliance Power 450 190 to 200Emaar MGF 610 to 690 220 to 230J. Kumar Infraprojects 110 to 120 5 to 7Cords Cable Ind. 125 to 135 22 to 25KNR Construction 170 to 180 15 to 18OnMobile Global 425 to 450 100 to 120Bang Overseas 200 to 207 32 to 35Shriram EPC 290 to 330 35 to 37IRB Infrastructure Developers 185 to 220 50 to 60
Long Term Recommendations
KNR Constructions IPO Review
Daily Technical Futures - Jan 28 2008
Weekly Wrap - Jan 25 2008
Engineers India /Amara Raja Batteries
TNPL / Honda Siel
HT Media, Bharat Forge
Titan Industries , Tata Metaliks, Spicejet, HDFC Bank
KNR Constructions - valuations reasonable
IRB Infrastructure Developers - good for longterm
Onmobile Global - expensive issue
Bharti Airtel, Indiabulls, Bank of India, HDFC Bank
RBI meet, IPO refunds may decide the market course
BHEL, Central Bank, Cipla, Dr Reddys, Glenmark, Grasim, HCC, Kotak, LT, Marico, Union Bank of India, Voltas
ONGC, Bajaj Auto, GSPL, Bharat Forge
ICICI Bank, Idea Cellular, Satyam Computers
Chennai Petro, Garware Offshore, HCL Tech, ITC, KPIT Cummins, ONGC, Tech Mahindra, Wipro
Sesa Goa
Canara Bank
Orbit Corporation
ANG Auto, Balaji Telefilms
KNR Constructions IPO Review
Bang Overseas IPO Review
Onmobile Global IPO Review
Gateway Distriparks: Buy
GATI / PVR
Source: http://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.
Highlights of Macroeconomic and Monetary Developments in India
Monetary Policy Review
Market recovers from day's lows
RBI Cut Tomorrow ?
Weekly Review - Jan 28 2008
Wealth Creation - Outlook 2008
Stock Recommendations - Jan 28 2008
Post Market Commentary - Jan 28 2008
Market Close: Smart recovery; regains 18k level!
Sensex trims losses on late buying
Auto, bank shares in focus ahead of monetary policy review
Jindal SAW
Gemini Communications, Dhanus Technologies, Take Solutions
Grey Market - IRB Infrastructure, Shriram EPC, Onmobile Global, KNR Constructions
Future Capital Holding 765 410 to 415Reliance Power 450 190 to 200Emaar MGF 610 to 690 220 to 230J. Kumar Infraprojects 110 to 120 5 to 7Cords Cable Ind. 125 to 135 22 to 25KNR Construction 170 to 180 15 to 18OnMobile Global 425 to 450 100 to 120Bang Overseas 200 to 207 32 to 35Shriram EPC 290 to 330 35 to 37IRB Infrastructure Developers 185 to 220 50 to 60
Long Term Recommendations
KNR Constructions IPO Review
Daily Technical Futures - Jan 28 2008
Weekly Wrap - Jan 25 2008
Engineers India /Amara Raja Batteries
TNPL / Honda Siel
HT Media, Bharat Forge
Titan Industries , Tata Metaliks, Spicejet, HDFC Bank
KNR Constructions - valuations reasonable
IRB Infrastructure Developers - good for longterm
Onmobile Global - expensive issue
Bharti Airtel, Indiabulls, Bank of India, HDFC Bank
RBI meet, IPO refunds may decide the market course
BHEL, Central Bank, Cipla, Dr Reddys, Glenmark, Grasim, HCC, Kotak, LT, Marico, Union Bank of India, Voltas
ONGC, Bajaj Auto, GSPL, Bharat Forge
ICICI Bank, Idea Cellular, Satyam Computers
Chennai Petro, Garware Offshore, HCL Tech, ITC, KPIT Cummins, ONGC, Tech Mahindra, Wipro
Sesa Goa
Canara Bank
Orbit Corporation
ANG Auto, Balaji Telefilms
KNR Constructions IPO Review
Bang Overseas IPO Review
Onmobile Global IPO Review
Gateway Distriparks: Buy
GATI / PVR
Source: http://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.
IPO Watch: Bang Overseas, Wockhardt Hospitals, IRB Infrastructure
IPO Watch: Bang Overseas Wockhardt Hospitals IRB Infrastructure
Bang Overseas is raising money from the primary market to fund retail expansion. The company is coming out with an IPO of 35 lakh shares. Post-issue, the shareholding of the promoter and promoter group will reduce to 74.19%. The company will use the IPO proceeds to set up a manufacturing unit, as well as a warehousing and logistic facility. BUSINESS: Bang Overseas operates in two business segments - textile trading and garment manufacturing. It is also into fabric designing. The manufacturing processes are outsourced to low cost countries like Turkey, Portugal, Mauritius and Europe. It supplies fabric under the brand name 'Bodywaves' to Indian retailers and apparel manufacturers like Arvind, Pantaloon, Provogue and Mudra. In late '02, the company launched ready-to-wear men's garment under the brand 'Thomas Scott'. Two-and-a-half years ago, it set up its first manufacturing unit, while the second unit commenced commercial production in '06. The company is now aggressively expanding its retail reach and had set up 12 retail outlets by December '07. Nine of these are company-owned and three are franchisees. Going forward, it plans to open 88 retail outlets, half of which will be company-owned. It also plans to launch a women's wear brand 'Miss Scott'. Its products are also sold via 157 point of sales, including large format stores like Shopper's Stop, Pyramid and Globus. FINANCIALS: The company has seen 70% CAGR in revenues in the past four years. However, its net profit has grown more than 140% on a compounded basis. Peers like Bombay Rayon and Kewal Kiran have shown similar growth over the same period. A 10% PAT margin is in line with its peers. However, as the company increases its retail presence, sustaining high margins will be difficult. Bang Overseas generated over 20% revenue from exports in FY07, against 39% in FY06. This indicates that its retail presence is increasing. Currently, trading and garment manufacturing businesses contribute equally to Bang's profit margin. Going ahead, the contribution of the trading business is expected to fall to around 20% by FY09. The brand 'Thomas Scott' contributed 8% to the total turnover in FY06, against 15% in FY07. On an annualised basis for FY08, the company is expected to clock sales of Rs 145 crore. This will result in a net profit of Rs 14 crore. Thus, on a post-issue basis, the earnings per share will be Rs 10.5, almost double that of FY07. VALUATIONS: At the higher end of the price band, Bang Overseas is asking a P/E of 19 on post-issue equity dilution, based on H1 FY08 annualised earnings. The company cannot be compared with any of the listed players because of the small scale of its operations. Nonetheless, the business model is similar to that of Bombay Rayon and Celebrity Fashions, which are trading at similar P/Es. Bang Overseas intends to be present in the entire retail value chain to capture the margins at each sales point. Retail presence will be its main focus. It's imperative for Bang Overseas to maintain its high growth momentum as existing peers are also available at the same price. RISKS: Soaring real estate prices and thinning retail margins are a concern for existing big players. The fact that Bang Overseas plans to increase its retail presence can put its margins under pressure, as the scale of operations will increase.
IRB Infrastructure Developers, a Mumbai-based infrastructure developer and construction major, is coming out with its initial public offer (IPO) of 51 million shares of face value Rs 10 each. The issue represents around 15.4% of the post-issue paid-up equity capital of the company. The company is raising money for pre-payment and repayment of existing loans, investment in subsidiaries and meeting general corporate expenses. Over 70% of the issue proceeds will be utilised to prepay or repay the debts of the holding company (IRB) and its various subsidiaries. The company also proposes to invest Rs 90 crore in a special purpose vehicle (SPV) that is bidding for build-operate-transfer (BOT) projects on sections of National Highway 8 (NH8). Loan repayment is expected to substantially reduce the company's interest expenses and boost its FY09 net profit. At its current offer price, the stock looks expensive compared to its listed peers, though it offers good growth prospects in the long term. Given last week's market crash, retail investors can avoid the issue as they may get the stock cheaper in the secondary market. BUSINESS: IRB Infrastructure is the holding company of the group and its BOT projects and construction activities are conducted through subsidiaries and SPVs. Recently, the group restructured its SPVs to convert the joint ventures into 100% subsidiaries. The group has an extensive presence in the highways sector and is currently involved in 12 BOT projects in roads and highways. It is now diversifying into real estate development and is in the process of acquiring land in Pune to develop an integrated township. During the first five months of FY08, nearly 55% of the group's consolidated turnover was accounted for by Ideal Road Builders (IRBL). IRBL is involved in BOT projects and government-funded construction projects. Around 37% of the group's revenue was accounted for by Mhaiskar Infrastructure, which maintains and collects toll on the Mumbai-Pune Expressway and Mumbai-Pune NH4 on a BOT basis. GROWTH DRIVERS: As the revenues and profits from its existing BoT projects grow, the company continues to bid for new BOT projects in the highways sector. Out of the company's 12 BOT projects, 11 are in the 'operational' phase. Recently, it bagged the project to develop the 260-km-long Dahisar-Surat section of NH8. The project will start generating revenues from FY09 and will be the biggest project in IRB's portfolio. The IPO proceeds will nearly quadruple the company's net worth to Rs 1,400 crore and enable it to bid for more BOT projects without straining its balance sheet. The bulk of the proceeds will be utilised to reduce debt and interest burden. In the first five months of FY08, interest expenses accounted for 30% of IRB's consolidated revenues. Hence, pre-payment of debt will provide significant upside to the company's net profit next year. Another growth driver is IRB's planned diversification into the real estate sector. Currently, the company has 925 acres in Pune and it intends to acquire an additional 475 acres for its proposed township projects. FINANCIALS: Starting from a low base, the company is growing rapidly. In the first five months of FY08, IRB reported a net profit of Rs 36 crore, which was more than the corresponding figure for FY07. Its consolidated revenue, at Rs 285 crore, was around 88% of the FY07 corresponding figure. We expect the company to maintain its growth momentum for at least the next 2-3 years as it continues to bag new BOT projects. Growth will also be aided by the construction division, which had an order book of over Rs 2,300 crore as on October 31, '07. This is equivalent to around eight times the division's estimated revenues for FY08. VALUATIONS: At its upper price band, the issue is valued at around 70 times its FY08 estimated EPS, which is 70-100% higher than the P/E multiples of its peers such as Larsen & Toubro (L&T), Hindustan Construction (HCC) and Gammon India. Our estimates are based on the assumption that the company will maintain the growth momentum witnessed in the first five months of FY08.
Wockhardt Hospitals
Wockhardt Hospitals is a leading private healthcare services company with a focus on super-specialty treatments. It plans to raise Rs 688-762 crore. The IPO comprises a net issue of nearly 2.5 crore shares with a face value of Rs 10 each, representing 24% of the post-issue equity capital of the company. Around two-thirds of the issue proceeds will be used to construct and develop the company's greenfield and brownfield hospitals. The remaining amount has been earmarked for prepayment of short-term loans taken by the company to fund its capital expenditure. BUSINESS: Incorporated in August 1991, Wockhardt Hospitals (formerly known as First Hospitals and Heart Institute) has 15 hospitals (10 super-specialty and five regional specialty intensive care units) in western, southern and eastern India. According to CRIS-INFAC '07 report, the company has around 1,390 beds across its various hospitals. Apollo Hospitals is the industry leader in the private sector with 6,952 beds. Wockhardt Hospitals had an average occupancy rate of around 68% in the last fiscal year. During FY07, it performed over 10,000 cardiac procedures, 1,000 orthopedic procedures and 400 neuro and spine surgeries. As on December 31, '07, the company had recruited 471 doctors and 2,147 medical personnel across its 15 facilities. Being a reputed pedigree of Wockhardt group and focusing on specialty treatments are its strengths. It also enjoys strategic association with Harvard Medical International, a global non-profit organisation, for advancement of medical facilities around the world. GROWTH DRIVERS: The company plans to consolidate its position in the metros and establish its footprint in Tier-II cities. It plans to increase its number of beds to 1,957 by the end of FY09. The company plans to expand via the greenfield or brownfield routes. It also aims to tap the growing medical tourism market, with special focus on patients from developed countries seeking cost-effective healthcare. It's also banking on increased spend on healthcare in the country on the back of growing penetration of health insurance. FINANCIALS: The company's revenues posted a CAGR of 48% since '03 to reach Rs 236.5 crore in FY07. It started generating profits since FY05; its profit stood at Rs 15.3 crore at the end of FY07. The company has not paid any dividends in the past and is not likely to pay any in the foreseeable future, as it plans to plough back its earnings for development and expansion of its business. VALUATIONS: At the lower price band, the company is valued at 242 times its FY08 estimated earnings. At the upper price band, P/E works out to just less than 270. Our estimates are based on growth witnessed in the nine months ended December '07. These valuations look expensive compared to the average valuation in the healthcare segment. Apollo Hospitals, a dividend paying company, has a P/E of 28. Investors will be better off buying value stocks in this segment from the secondary, rather than primary market.
---------------------------------------------------------
Moneycontrol.com
What experts say about Bang Overseas?
Subscribe to OnMobile Global IPO: Prabhudas Lilladher
Hem Sec neutral on KNR Constructions IPO
Reliance Power a long term call: Chakraborty
Bang Overseas IPO opens for subscription Big Bazaar evaluating funding options for exp Future Capital Holdings to list on February 1 Apply for KNR Constructions IPO: Arihant Cap
Shriram EPC IPO opens on Jan 29, price band Rs 290-330
Mixed reactions from Experts for Cords cable
Crisil assigns IPO Grade 5/5 to Acme Tele Power
IRB Infra IPO opens on Jan 31, price band Rs 185-220
----------------------------------------------------------
The Economic Times
Bang Overseas' 35 lakh share IPO opens
Tulsi Extrusions IPO to raise up to Rs 48.5 cr
Wockhart Hospitals to raise Rs 800 cr through IPO
Market fall puts brakes on IPO subscription
Shriram EPC to raise Rs 165 cr through IPO
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
-------------------------------------------------------
Source: http://www.moneycontrol.com and 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.
Bang Overseas is raising money from the primary market to fund retail expansion. The company is coming out with an IPO of 35 lakh shares. Post-issue, the shareholding of the promoter and promoter group will reduce to 74.19%. The company will use the IPO proceeds to set up a manufacturing unit, as well as a warehousing and logistic facility. BUSINESS: Bang Overseas operates in two business segments - textile trading and garment manufacturing. It is also into fabric designing. The manufacturing processes are outsourced to low cost countries like Turkey, Portugal, Mauritius and Europe. It supplies fabric under the brand name 'Bodywaves' to Indian retailers and apparel manufacturers like Arvind, Pantaloon, Provogue and Mudra. In late '02, the company launched ready-to-wear men's garment under the brand 'Thomas Scott'. Two-and-a-half years ago, it set up its first manufacturing unit, while the second unit commenced commercial production in '06. The company is now aggressively expanding its retail reach and had set up 12 retail outlets by December '07. Nine of these are company-owned and three are franchisees. Going forward, it plans to open 88 retail outlets, half of which will be company-owned. It also plans to launch a women's wear brand 'Miss Scott'. Its products are also sold via 157 point of sales, including large format stores like Shopper's Stop, Pyramid and Globus. FINANCIALS: The company has seen 70% CAGR in revenues in the past four years. However, its net profit has grown more than 140% on a compounded basis. Peers like Bombay Rayon and Kewal Kiran have shown similar growth over the same period. A 10% PAT margin is in line with its peers. However, as the company increases its retail presence, sustaining high margins will be difficult. Bang Overseas generated over 20% revenue from exports in FY07, against 39% in FY06. This indicates that its retail presence is increasing. Currently, trading and garment manufacturing businesses contribute equally to Bang's profit margin. Going ahead, the contribution of the trading business is expected to fall to around 20% by FY09. The brand 'Thomas Scott' contributed 8% to the total turnover in FY06, against 15% in FY07. On an annualised basis for FY08, the company is expected to clock sales of Rs 145 crore. This will result in a net profit of Rs 14 crore. Thus, on a post-issue basis, the earnings per share will be Rs 10.5, almost double that of FY07. VALUATIONS: At the higher end of the price band, Bang Overseas is asking a P/E of 19 on post-issue equity dilution, based on H1 FY08 annualised earnings. The company cannot be compared with any of the listed players because of the small scale of its operations. Nonetheless, the business model is similar to that of Bombay Rayon and Celebrity Fashions, which are trading at similar P/Es. Bang Overseas intends to be present in the entire retail value chain to capture the margins at each sales point. Retail presence will be its main focus. It's imperative for Bang Overseas to maintain its high growth momentum as existing peers are also available at the same price. RISKS: Soaring real estate prices and thinning retail margins are a concern for existing big players. The fact that Bang Overseas plans to increase its retail presence can put its margins under pressure, as the scale of operations will increase.
IRB Infrastructure Developers, a Mumbai-based infrastructure developer and construction major, is coming out with its initial public offer (IPO) of 51 million shares of face value Rs 10 each. The issue represents around 15.4% of the post-issue paid-up equity capital of the company. The company is raising money for pre-payment and repayment of existing loans, investment in subsidiaries and meeting general corporate expenses. Over 70% of the issue proceeds will be utilised to prepay or repay the debts of the holding company (IRB) and its various subsidiaries. The company also proposes to invest Rs 90 crore in a special purpose vehicle (SPV) that is bidding for build-operate-transfer (BOT) projects on sections of National Highway 8 (NH8). Loan repayment is expected to substantially reduce the company's interest expenses and boost its FY09 net profit. At its current offer price, the stock looks expensive compared to its listed peers, though it offers good growth prospects in the long term. Given last week's market crash, retail investors can avoid the issue as they may get the stock cheaper in the secondary market. BUSINESS: IRB Infrastructure is the holding company of the group and its BOT projects and construction activities are conducted through subsidiaries and SPVs. Recently, the group restructured its SPVs to convert the joint ventures into 100% subsidiaries. The group has an extensive presence in the highways sector and is currently involved in 12 BOT projects in roads and highways. It is now diversifying into real estate development and is in the process of acquiring land in Pune to develop an integrated township. During the first five months of FY08, nearly 55% of the group's consolidated turnover was accounted for by Ideal Road Builders (IRBL). IRBL is involved in BOT projects and government-funded construction projects. Around 37% of the group's revenue was accounted for by Mhaiskar Infrastructure, which maintains and collects toll on the Mumbai-Pune Expressway and Mumbai-Pune NH4 on a BOT basis. GROWTH DRIVERS: As the revenues and profits from its existing BoT projects grow, the company continues to bid for new BOT projects in the highways sector. Out of the company's 12 BOT projects, 11 are in the 'operational' phase. Recently, it bagged the project to develop the 260-km-long Dahisar-Surat section of NH8. The project will start generating revenues from FY09 and will be the biggest project in IRB's portfolio. The IPO proceeds will nearly quadruple the company's net worth to Rs 1,400 crore and enable it to bid for more BOT projects without straining its balance sheet. The bulk of the proceeds will be utilised to reduce debt and interest burden. In the first five months of FY08, interest expenses accounted for 30% of IRB's consolidated revenues. Hence, pre-payment of debt will provide significant upside to the company's net profit next year. Another growth driver is IRB's planned diversification into the real estate sector. Currently, the company has 925 acres in Pune and it intends to acquire an additional 475 acres for its proposed township projects. FINANCIALS: Starting from a low base, the company is growing rapidly. In the first five months of FY08, IRB reported a net profit of Rs 36 crore, which was more than the corresponding figure for FY07. Its consolidated revenue, at Rs 285 crore, was around 88% of the FY07 corresponding figure. We expect the company to maintain its growth momentum for at least the next 2-3 years as it continues to bag new BOT projects. Growth will also be aided by the construction division, which had an order book of over Rs 2,300 crore as on October 31, '07. This is equivalent to around eight times the division's estimated revenues for FY08. VALUATIONS: At its upper price band, the issue is valued at around 70 times its FY08 estimated EPS, which is 70-100% higher than the P/E multiples of its peers such as Larsen & Toubro (L&T), Hindustan Construction (HCC) and Gammon India. Our estimates are based on the assumption that the company will maintain the growth momentum witnessed in the first five months of FY08.
Wockhardt Hospitals
Wockhardt Hospitals is a leading private healthcare services company with a focus on super-specialty treatments. It plans to raise Rs 688-762 crore. The IPO comprises a net issue of nearly 2.5 crore shares with a face value of Rs 10 each, representing 24% of the post-issue equity capital of the company. Around two-thirds of the issue proceeds will be used to construct and develop the company's greenfield and brownfield hospitals. The remaining amount has been earmarked for prepayment of short-term loans taken by the company to fund its capital expenditure. BUSINESS: Incorporated in August 1991, Wockhardt Hospitals (formerly known as First Hospitals and Heart Institute) has 15 hospitals (10 super-specialty and five regional specialty intensive care units) in western, southern and eastern India. According to CRIS-INFAC '07 report, the company has around 1,390 beds across its various hospitals. Apollo Hospitals is the industry leader in the private sector with 6,952 beds. Wockhardt Hospitals had an average occupancy rate of around 68% in the last fiscal year. During FY07, it performed over 10,000 cardiac procedures, 1,000 orthopedic procedures and 400 neuro and spine surgeries. As on December 31, '07, the company had recruited 471 doctors and 2,147 medical personnel across its 15 facilities. Being a reputed pedigree of Wockhardt group and focusing on specialty treatments are its strengths. It also enjoys strategic association with Harvard Medical International, a global non-profit organisation, for advancement of medical facilities around the world. GROWTH DRIVERS: The company plans to consolidate its position in the metros and establish its footprint in Tier-II cities. It plans to increase its number of beds to 1,957 by the end of FY09. The company plans to expand via the greenfield or brownfield routes. It also aims to tap the growing medical tourism market, with special focus on patients from developed countries seeking cost-effective healthcare. It's also banking on increased spend on healthcare in the country on the back of growing penetration of health insurance. FINANCIALS: The company's revenues posted a CAGR of 48% since '03 to reach Rs 236.5 crore in FY07. It started generating profits since FY05; its profit stood at Rs 15.3 crore at the end of FY07. The company has not paid any dividends in the past and is not likely to pay any in the foreseeable future, as it plans to plough back its earnings for development and expansion of its business. VALUATIONS: At the lower price band, the company is valued at 242 times its FY08 estimated earnings. At the upper price band, P/E works out to just less than 270. Our estimates are based on growth witnessed in the nine months ended December '07. These valuations look expensive compared to the average valuation in the healthcare segment. Apollo Hospitals, a dividend paying company, has a P/E of 28. Investors will be better off buying value stocks in this segment from the secondary, rather than primary market.
---------------------------------------------------------
Moneycontrol.com
What experts say about Bang Overseas?
Subscribe to OnMobile Global IPO: Prabhudas Lilladher
Hem Sec neutral on KNR Constructions IPO
Reliance Power a long term call: Chakraborty
Bang Overseas IPO opens for subscription Big Bazaar evaluating funding options for exp Future Capital Holdings to list on February 1 Apply for KNR Constructions IPO: Arihant Cap
Shriram EPC IPO opens on Jan 29, price band Rs 290-330
Mixed reactions from Experts for Cords cable
Crisil assigns IPO Grade 5/5 to Acme Tele Power
IRB Infra IPO opens on Jan 31, price band Rs 185-220
----------------------------------------------------------
The Economic Times
Bang Overseas' 35 lakh share IPO opens
Tulsi Extrusions IPO to raise up to Rs 48.5 cr
Wockhart Hospitals to raise Rs 800 cr through IPO
Market fall puts brakes on IPO subscription
Shriram EPC to raise Rs 165 cr through IPO
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
-------------------------------------------------------
Source: http://www.moneycontrol.com and 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.
Myiris, Moneycontrol Updates
Myiris.com
US Fed rate cut likely to cast shadow on RBI credit policy
Highlights of Macroeconomic and Monetary Developments in India
Highlights of Macroeconomic and Monetary Developments in India
Godfrey Phillips net rises 53.52% in Dec `07 qtr
KEI Industries to set up subsidiary for power generation biz
IQMS Software to buy 51% stake in Object Xperts
Alembic to enter into US, European markets
Essar Steel plans jetty at Hazira
Lupin intends to acquire firm in US
Voltas eyes acquisitions in electro-mechanical projects
Hinduja Group to invest USD 50 bn in India
------------------------------------------------------
Moneycontrol.com
Mkt says 50% chance of a rate cut: Poll
FIIs +ve on India, but advocate risk recognition
RBI may hike CRR by April: DSP ML
Total land bank at 39 m sq ft: Kolte Patil
Great offshore Q3 net profit up at Rs 55.04cr
Kale’s cons revenue for Q3 up 41%, net profit up 14%
SISCOL net profit for Q3FY07-08 surges by 33%
GHCL's PAT at Rs 32.17cr
Zee News Q3 net profit at Rs 12.77 cr
Mkts may see some pre-Budget rally: Religare Sec
Source: http://www.moneycontrol.com and 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.
US Fed rate cut likely to cast shadow on RBI credit policy
Highlights of Macroeconomic and Monetary Developments in India
Highlights of Macroeconomic and Monetary Developments in India
Godfrey Phillips net rises 53.52% in Dec `07 qtr
KEI Industries to set up subsidiary for power generation biz
IQMS Software to buy 51% stake in Object Xperts
Alembic to enter into US, European markets
Essar Steel plans jetty at Hazira
Lupin intends to acquire firm in US
Voltas eyes acquisitions in electro-mechanical projects
Hinduja Group to invest USD 50 bn in India
------------------------------------------------------
Moneycontrol.com
Mkt says 50% chance of a rate cut: Poll
FIIs +ve on India, but advocate risk recognition
RBI may hike CRR by April: DSP ML
Total land bank at 39 m sq ft: Kolte Patil
Great offshore Q3 net profit up at Rs 55.04cr
Kale’s cons revenue for Q3 up 41%, net profit up 14%
SISCOL net profit for Q3FY07-08 surges by 33%
GHCL's PAT at Rs 32.17cr
Zee News Q3 net profit at Rs 12.77 cr
Mkts may see some pre-Budget rally: Religare Sec
Source: http://www.moneycontrol.com and 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.
Results: DC, Federal Bk, Unity Infra, PTC india, Jyoti Stru, Tata Tea and Results Calander
Deccan Chronicle Q3 net profit at Rs 103 cr view table
28th-Jan-2008
Deccan Chronicle Holdings has announced its third quarter numbers. It has posted net profit of Rs 103 crore for the quarter ended December 2007 as against Rs 48.4 crore in same period of last year and net sales of Rs 216 crore.
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Federal Bank Q3net profit at Rs 102.9 cr view table
28th-Jan-2008
Federal Bank has declared its third quarter results. Its Q3 NII stood at Rs 203.7 crore versus Rs 178.3 crore.
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Unity Infra Q3 PAT up 31% at Rs 17.76 cr view table
28th-Jan-2008
Unity Infraprojects has announced its Q3FY08 numbers. It has posted 31% growth in its Q3 profit after tax of Rs 17.76 crore versus Rs 13.59 crore. Net sales went up 48% at Rs 231.53 crore as against Rs 156 crore and operating profit margin stood at 13.65%
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Cholamandalam Q3 PAT up at Rs 20.2 cr view table
28th-Jan-2008
Cholamandalam DBS Finance has announced its third quarter results. The company’s Q3 non-consolidated net profit was up at Rs 20.2 crore (Rs 202 million) versus Rs 7.2 crore (Rs 72 million), YoY.
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PTC India Q3 net profit at Rs 6.2 cr view table
28th-Jan-2008
PTC India has decalred its third quarter results. The company’s Q3 net profit was down at Rs 6.2 crore (Rs 62 million) versus Rs 8.6 crore (Rs 86 crore), YoY.
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Emkay Share Q3 net profit up at Rs 9.4 crore view table
28th-Jan-2008
Emkay Share has announced its third quarter results. The company’s Q3 net profit was up at Rs 9.4 crore (Rs 94 million) from Rs 2.3 (Rs 23 million), YoY.
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Jyoti Structure Q3 net profit at Rs 20.1 crore view table
28th-Jan-2008
Jyoti Structure has declared its third quarter results. The company’s Q3 net profit was up at Rs 20.1 crore (Rs 201 million) from Rs 17.4 Cr (Rs 174 million), YoY.
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Tata Tea Q3 cons net profit at Rs 1307.3 cr view table
28th-Jan-2008
Tata Tea's consolidated net profit went up at Rs 1,307.3 crore as against Rs 117.2 crore (Inclusive of Glaceau stake sale). Consolidated net profit of Rs 1,307.3 crore included one time gain of Rs 1,605 crore.
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Sundaram Clayton Q3 net profit at Rs 23.44 cr
28th-Jan-2008
Sundaram Clayton has declared its third quarter results. Its net sales were at Rs 247.59 crore versus Rs 204.72 crore, YoY.
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Results on Tuesday
Results Calender
Adani Enterpris 29-Jan-08
Ador Welding 29-Jan-08
Akruti City 29-Jan-08
Alpa Laboratori 29-Jan-08
Alps Industries 29-Jan-08
Alstom Projects 29-Jan-08
Archies 29-Jan-08
Asian Hotels 29-Jan-08
Asian Paints 29-Jan-08
Avanti Feeds 29-Jan-08
Bajaj Auto Fin 29-Jan-08
Banswara Syntex 29-Jan-08
Bell Ceramics 29-Jan-08
Birla Ericsson 29-Jan-08
Blue Star Info 29-Jan-08
Bombay Dyeing 29-Jan-08
C and C Const 29-Jan-08
Chetinad Cem 29-Jan-08
Cinemax India 29-Jan-08
Clutch Auto 29-Jan-08
Consolidated Co 29-Jan-08
Cybertech 29-Jan-08
Dabur India 29-Jan-08
Deccan Cements 29-Jan-08
Dredging Cor 29-Jan-08
Eicher Motors 29-Jan-08
Eimco Elecon 29-Jan-08
Elder Pharma 29-Jan-08
Elecon Eng 29-Jan-08
Essar Oil 29-Jan-08
ETP Corporation 29-Jan-08
Firstsource Sol 29-Jan-08
Gangotri Textil 29-Jan-08
GE Shipping 29-Jan-08
Geodesic 29-Jan-08
GlaxoSmith Con 29-Jan-08
GNFC 29-Jan-08
Godawari Power 29-Jan-08
Godrej Ind 29-Jan-08
Guj Mineral 29-Jan-08
Guj Sidhee Cem 29-Jan-08
Gulshan Poly 29-Jan-08
Gulshan Sugars 29-Jan-08
Havells India 29-Jan-08
Hind Oil Explor 29-Jan-08
Hinduja Venture 29-Jan-08
Hitachi Home 29-Jan-08
HMT 29-Jan-08
Hotel Rugby 29-Jan-08
HOV Services 29-Jan-08
Hyderabad Ind 29-Jan-08
IFGL Refractory 29-Jan-08
Impex FerroTech 29-Jan-08
Ind Motor Parts 29-Jan-08
Ind-Swift Labs 29-Jan-08
Indian Hume Pip 29-Jan-08
Indo Rama Synth 29-Jan-08
Indoco Remedies 29-Jan-08
Indraprastha 29-Jan-08
Insecticides In 29-Jan-08
ITI 29-Jan-08
JagranPrakashan 29-Jan-08
Jayshree Tea 29-Jan-08
JB Chemicals 29-Jan-08
JHS Svendgaard 29-Jan-08
JK Cement 29-Jan-08
JK Tyre & Ind 29-Jan-08
JM Financial 29-Jan-08
JSW Steel 29-Jan-08
Kabra Extrusion 29-Jan-08
Kalpataru Power 29-Jan-08
Karur Vysya 29-Jan-08
Keynote Corp Se 29-Jan-08
KRBL 29-Jan-08
Krishna Eng 29-Jan-08
KS Oils 29-Jan-08
Lakshmi Prec 29-Jan-08
Lanco Infratech 29-Jan-08
Lumax Auto 29-Jan-08
Mah Scooters 29-Jan-08
Mahindra Life 29-Jan-08
Maral Overseas 29-Jan-08
Maruti Suzuki 29-Jan-08
Maxwell Apparel 29-Jan-08
Mcleod Rus 29-Jan-08
Mundra Port 29-Jan-08
NALCO 29-Jan-08
Navneet 29-Jan-08
Neelkanth Rock 29-Jan-08
Nippo Batteries 29-Jan-08
Nirma 29-Jan-08
NRB Bearings 29-Jan-08
Nucent Finance 29-Jan-08
Opto Circuits 29-Jan-08
Oudh Sugar Mill 29-Jan-08
Paper Products 29-Jan-08
Patel Integrate 29-Jan-08
Pearl Global 29-Jan-08
Percot Mills 29-Jan-08
Pioneer Embroi 29-Jan-08
Piramyd Retail 29-Jan-08
Plastiblends 29-Jan-08
Praj Industries 29-Jan-08
Prithvi Info 29-Jan-08
Punjab Chemical 29-Jan-08
Pyramid Saimira 29-Jan-08
Rajdarshan Ind 29-Jan-08
Rajvir Ind 29-Jan-08
Rane Holdings 29-Jan-08
Regency Ceramic 29-Jan-08
Renaissance Jew 29-Jan-08
Rishi Laser 29-Jan-08
Rohit Ferro Tec 29-Jan-08
Ruby Mills 29-Jan-08
SAIL 29-Jan-08
Sakthi Sugars 29-Jan-08
Sangam India 29-Jan-08
Sanguine Media 29-Jan-08
Sharyans Res 29-Jan-08
Shri Rama Multi 29-Jan-08
Sical Logistics 29-Jan-08
Silicon Valley 29-Jan-08
Simplex Project 29-Jan-08
Software Tech 29-Jan-08
Somany Ceramics 29-Jan-08
Steel Tubes 29-Jan-08
Sterlite Ind 29-Jan-08
Stindia 29-Jan-08
Subex 29-Jan-08
Subros 29-Jan-08
Suprajit Eng 29-Jan-08
Suzlon Energy 29-Jan-08
Syndicate Bank 29-Jan-08
Tata Power 29-Jan-08
Thermax 29-Jan-08
Thiru Arooran 29-Jan-08
Thomas Cook 29-Jan-08
Torrent Power 29-Jan-08
Triveni Eng 29-Jan-08
Triveni Engg 29-Jan-08
TTK Prestige 29-Jan-08
Universal Cable 29-Jan-08
Usha Martin 29-Jan-08
Vardhman Acryli 29-Jan-08
Vardhman Poly 29-Jan-08
Vindhya Telelin 29-Jan-08
Vinyl Chemicals 29-Jan-08
Voltamp Trans 29-Jan-08
Wall Street Fin 29-Jan-08
Williamson Mago 29-Jan-08
Wire & Wireless 29-Jan-08
Yes Bank 29-Jan-08
Zee Entertain 29-Jan-08
Zenithexpo 29-Jan-08
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Source: http://www.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.
28th-Jan-2008
Deccan Chronicle Holdings has announced its third quarter numbers. It has posted net profit of Rs 103 crore for the quarter ended December 2007 as against Rs 48.4 crore in same period of last year and net sales of Rs 216 crore.
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Federal Bank Q3net profit at Rs 102.9 cr view table
28th-Jan-2008
Federal Bank has declared its third quarter results. Its Q3 NII stood at Rs 203.7 crore versus Rs 178.3 crore.
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Unity Infra Q3 PAT up 31% at Rs 17.76 cr view table
28th-Jan-2008
Unity Infraprojects has announced its Q3FY08 numbers. It has posted 31% growth in its Q3 profit after tax of Rs 17.76 crore versus Rs 13.59 crore. Net sales went up 48% at Rs 231.53 crore as against Rs 156 crore and operating profit margin stood at 13.65%
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Cholamandalam Q3 PAT up at Rs 20.2 cr view table
28th-Jan-2008
Cholamandalam DBS Finance has announced its third quarter results. The company’s Q3 non-consolidated net profit was up at Rs 20.2 crore (Rs 202 million) versus Rs 7.2 crore (Rs 72 million), YoY.
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PTC India Q3 net profit at Rs 6.2 cr view table
28th-Jan-2008
PTC India has decalred its third quarter results. The company’s Q3 net profit was down at Rs 6.2 crore (Rs 62 million) versus Rs 8.6 crore (Rs 86 crore), YoY.
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Emkay Share Q3 net profit up at Rs 9.4 crore view table
28th-Jan-2008
Emkay Share has announced its third quarter results. The company’s Q3 net profit was up at Rs 9.4 crore (Rs 94 million) from Rs 2.3 (Rs 23 million), YoY.
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Jyoti Structure Q3 net profit at Rs 20.1 crore view table
28th-Jan-2008
Jyoti Structure has declared its third quarter results. The company’s Q3 net profit was up at Rs 20.1 crore (Rs 201 million) from Rs 17.4 Cr (Rs 174 million), YoY.
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Tata Tea Q3 cons net profit at Rs 1307.3 cr view table
28th-Jan-2008
Tata Tea's consolidated net profit went up at Rs 1,307.3 crore as against Rs 117.2 crore (Inclusive of Glaceau stake sale). Consolidated net profit of Rs 1,307.3 crore included one time gain of Rs 1,605 crore.
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Sundaram Clayton Q3 net profit at Rs 23.44 cr
28th-Jan-2008
Sundaram Clayton has declared its third quarter results. Its net sales were at Rs 247.59 crore versus Rs 204.72 crore, YoY.
------------------------------------------------------
Results on Tuesday
Results Calender
Adani Enterpris 29-Jan-08
Ador Welding 29-Jan-08
Akruti City 29-Jan-08
Alpa Laboratori 29-Jan-08
Alps Industries 29-Jan-08
Alstom Projects 29-Jan-08
Archies 29-Jan-08
Asian Hotels 29-Jan-08
Asian Paints 29-Jan-08
Avanti Feeds 29-Jan-08
Bajaj Auto Fin 29-Jan-08
Banswara Syntex 29-Jan-08
Bell Ceramics 29-Jan-08
Birla Ericsson 29-Jan-08
Blue Star Info 29-Jan-08
Bombay Dyeing 29-Jan-08
C and C Const 29-Jan-08
Chetinad Cem 29-Jan-08
Cinemax India 29-Jan-08
Clutch Auto 29-Jan-08
Consolidated Co 29-Jan-08
Cybertech 29-Jan-08
Dabur India 29-Jan-08
Deccan Cements 29-Jan-08
Dredging Cor 29-Jan-08
Eicher Motors 29-Jan-08
Eimco Elecon 29-Jan-08
Elder Pharma 29-Jan-08
Elecon Eng 29-Jan-08
Essar Oil 29-Jan-08
ETP Corporation 29-Jan-08
Firstsource Sol 29-Jan-08
Gangotri Textil 29-Jan-08
GE Shipping 29-Jan-08
Geodesic 29-Jan-08
GlaxoSmith Con 29-Jan-08
GNFC 29-Jan-08
Godawari Power 29-Jan-08
Godrej Ind 29-Jan-08
Guj Mineral 29-Jan-08
Guj Sidhee Cem 29-Jan-08
Gulshan Poly 29-Jan-08
Gulshan Sugars 29-Jan-08
Havells India 29-Jan-08
Hind Oil Explor 29-Jan-08
Hinduja Venture 29-Jan-08
Hitachi Home 29-Jan-08
HMT 29-Jan-08
Hotel Rugby 29-Jan-08
HOV Services 29-Jan-08
Hyderabad Ind 29-Jan-08
IFGL Refractory 29-Jan-08
Impex FerroTech 29-Jan-08
Ind Motor Parts 29-Jan-08
Ind-Swift Labs 29-Jan-08
Indian Hume Pip 29-Jan-08
Indo Rama Synth 29-Jan-08
Indoco Remedies 29-Jan-08
Indraprastha 29-Jan-08
Insecticides In 29-Jan-08
ITI 29-Jan-08
JagranPrakashan 29-Jan-08
Jayshree Tea 29-Jan-08
JB Chemicals 29-Jan-08
JHS Svendgaard 29-Jan-08
JK Cement 29-Jan-08
JK Tyre & Ind 29-Jan-08
JM Financial 29-Jan-08
JSW Steel 29-Jan-08
Kabra Extrusion 29-Jan-08
Kalpataru Power 29-Jan-08
Karur Vysya 29-Jan-08
Keynote Corp Se 29-Jan-08
KRBL 29-Jan-08
Krishna Eng 29-Jan-08
KS Oils 29-Jan-08
Lakshmi Prec 29-Jan-08
Lanco Infratech 29-Jan-08
Lumax Auto 29-Jan-08
Mah Scooters 29-Jan-08
Mahindra Life 29-Jan-08
Maral Overseas 29-Jan-08
Maruti Suzuki 29-Jan-08
Maxwell Apparel 29-Jan-08
Mcleod Rus 29-Jan-08
Mundra Port 29-Jan-08
NALCO 29-Jan-08
Navneet 29-Jan-08
Neelkanth Rock 29-Jan-08
Nippo Batteries 29-Jan-08
Nirma 29-Jan-08
NRB Bearings 29-Jan-08
Nucent Finance 29-Jan-08
Opto Circuits 29-Jan-08
Oudh Sugar Mill 29-Jan-08
Paper Products 29-Jan-08
Patel Integrate 29-Jan-08
Pearl Global 29-Jan-08
Percot Mills 29-Jan-08
Pioneer Embroi 29-Jan-08
Piramyd Retail 29-Jan-08
Plastiblends 29-Jan-08
Praj Industries 29-Jan-08
Prithvi Info 29-Jan-08
Punjab Chemical 29-Jan-08
Pyramid Saimira 29-Jan-08
Rajdarshan Ind 29-Jan-08
Rajvir Ind 29-Jan-08
Rane Holdings 29-Jan-08
Regency Ceramic 29-Jan-08
Renaissance Jew 29-Jan-08
Rishi Laser 29-Jan-08
Rohit Ferro Tec 29-Jan-08
Ruby Mills 29-Jan-08
SAIL 29-Jan-08
Sakthi Sugars 29-Jan-08
Sangam India 29-Jan-08
Sanguine Media 29-Jan-08
Sharyans Res 29-Jan-08
Shri Rama Multi 29-Jan-08
Sical Logistics 29-Jan-08
Silicon Valley 29-Jan-08
Simplex Project 29-Jan-08
Software Tech 29-Jan-08
Somany Ceramics 29-Jan-08
Steel Tubes 29-Jan-08
Sterlite Ind 29-Jan-08
Stindia 29-Jan-08
Subex 29-Jan-08
Subros 29-Jan-08
Suprajit Eng 29-Jan-08
Suzlon Energy 29-Jan-08
Syndicate Bank 29-Jan-08
Tata Power 29-Jan-08
Thermax 29-Jan-08
Thiru Arooran 29-Jan-08
Thomas Cook 29-Jan-08
Torrent Power 29-Jan-08
Triveni Eng 29-Jan-08
Triveni Engg 29-Jan-08
TTK Prestige 29-Jan-08
Universal Cable 29-Jan-08
Usha Martin 29-Jan-08
Vardhman Acryli 29-Jan-08
Vardhman Poly 29-Jan-08
Vindhya Telelin 29-Jan-08
Vinyl Chemicals 29-Jan-08
Voltamp Trans 29-Jan-08
Wall Street Fin 29-Jan-08
Williamson Mago 29-Jan-08
Wire & Wireless 29-Jan-08
Yes Bank 29-Jan-08
Zee Entertain 29-Jan-08
Zenithexpo 29-Jan-08
-------------------------------------------------------------
Source: http://www.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.
Results: LNT, Dr.Reddy, JSPL, VSNL, Divis, Matrix, Educomp, DC, Indian Hotel, Sadbhav, Bharti Shipyard, Jetairways, GVK power, Simplex infra etc
L&T Q3 net profit up 40% YoY
Larsen & Toubro’s net profit for the quarter ended Dec 31, 2007 rose 40.10 per cent to Rs 481.79 crore against Rs 343.90 crore in the same quarter of previous year. Total income increased 52.69 per cent to Rs 6,483.55 crore from Rs 4,224.49 crore in the quarter ended Dec 2006.
Dr Reddy's down 11% as Q3 disappoints
The pharma major reported a net profit of Rs 42.29 crore for the quarter ended Dec 31, 2007, against Rs 503.40 crore in the same quarter of previous year. Total income decreased 32.29 per cent to Rs 820.68 crore from Rs 121.21 crore in the quarter ended Dec 2006. On a consolidated basis, the group posted a net profit of Rs 62.55 crore for the Oct-Dec quarter of 2007, down 91.6 per cent compared with Rs 105.63 crore in the year earlier quarter. Total income decreased 17 per cent to Rs 1,265.98 crore from Rs 1,521.48 crore in the same quarter of 2006. As per US GAAP, the group posted a net loss of Rs 84.66 crore for the quarter ended Dec 31, 2007 against a net profit of Rs 187.94 crore last year. On Friday, the stock had closed higher by 6.73 per cent at Rs 605.40 on Friday, as the earnings came post market hours.
VSNL Q3 net profit slumps 93%; share down 9%
Videsh Sanchar Nigam Ltd has posted a net profit of Rs 9.52 crore for the quarter ended Dec 31, 2007, down more than 93 per cent compared to Rs 142.28 crore in the same quarter of 2006. Total income for the quarter increased to Rs 1113.52 crore from Rs 1112.25 crore in the quarter ended Dec 31, 2006. On Friday, VSNL shares closed up 6.40 per cent at Rs 554.90 on the back of the broad market recovery. Today the share was down 9 per cent at Rs 505 on BSE.
Educomp Solutions Q3 net profit up 131.62%
Educomp Solutions' net profit for the quarter ended Dec 31, 2007 rose 131.62 per cent to Rs 19.02 crore against Rs 8.21 crore in the same quarter of earlier year. Net sales increased 159.39 per cent to Rs 71.52 crore from Rs 27.57 crore in the same quarter of 2006. At 12:11 pm, Educomp shares were down 5.44 per cent at Rs 3,923.95 on BSE.
Deccan Chronicle Q3 net profit up 112%; forms JV with Group M
Deccan Chronicle Holdings has posted a net profit of Rs 102.94 crore for the quarter ended Dec 31, 2007, compared with Rs 48.44 crore in the year-ago quarter. This represents a growth of 112 per cent. Net sales for the Oct-Dec period was higher by over 47 per cent at Rs 216.20 crore compared to Rs 146.39 crore in the same quarter previous year. The company has announced the formation of a joint venture with Group M (a WPP company), to explore the sport and event management space through its subsidiary Sieger Solutions Ltd. The board has taken on record the winning bid of $107 million for Indian Premier League for Hyderabad team. The company has also approved the launch of a financial daily and appointed Shubhrangshu Roy as chief operating officer.
Divi's Laboratories net profit rises 207.55% in the December 2007 quarter
Net profit of Divi's Laboratories rose 207.55% to Rs 100.66 crore in the quarter ended December 2007 as against Rs 32.73 crore during the previous quarter ended December 2006. Sales rose 89.96% to Rs 284.22 crore in the quarter ended December 2007 as against Rs 149.62 crore during the previous quarter ended December 2006.
Jindal Steel & Power net profit rises 68.01% in the December 2007 quarter
Net profit of Jindal Steel & Power rose 68.01% to Rs 319.05 crore in the quarter ended December 2007 as against Rs 189.90 crore during the previous quarter ended December 2006. Sales rose 38.17% to Rs 1395.61 crore in the quarter ended December 2007 as against Rs 1010.06 crore during the previous quarter ended December 2006
Sadbhav Engineering net profit rises 39.17% in the December 2007 quarter
Net profit of Sadbhav Engineering rose 39.17% to Rs 13.68 crore in the quarter ended December 2007 as against Rs 9.83 crore during the previous quarter ended December 2006. Sales rose 52.22% to Rs 230.08 crore in the quarter ended December 2007 as against Rs 151.15 crore during the previous quarter ended December 2006.
Apar Industries net profit rises 14.15% in the December 2007 quarter
Net profit of Apar Industries rose 14.15% to Rs 13.71 crore in the quarter ended December 2007 as against Rs 12.01 crore during the previous quarter ended December 2006. Sales rose 30.88% to Rs 472.90 crore in the quarter ended December 2007 as against Rs 361.31 crore during the previous quarter ended December 2006.
JIK Industries reports net loss of Rs 0.56 crore in the December 2007 quarter
Zenith Birla India net profit rises 14.35% in the December 2007 quarter
Munjal Auto Industries net profit declines 65.69% in the December 2007 quarter
Sai Service Station net profit rises 23.44% in the December 2007 quarter
First Leasing Company of India net profit declines 6.65% in the December 2007 quarter
JK Paper net profit declines 34.89% in the December 2007 quarter
Radaan Mediaworks (I) net profit declines 38.71% in the December 2007 quarter
Sakuma Exports net profit rises 101.00% in the December 2007 quarter
Surana Industries net profit rises 40.87% in the December 2007 quarter
Net profit of Surana Industries rose 40.87% to Rs 6.79 crore in the quarter ended December 2007 as against Rs 4.82 crore during the previous quarter ended December 2006. Sales rose 23.48% to Rs 165.00 crore in the quarter ended December 2007 as against Rs 133.63 crore during the previous quarter ended December 2006
Indian Hotels Co net profit rises 52.95% in the December 2007 quarter
Net profit of Indian Hotels Co rose 52.95% to Rs 134.58 crore in the quarter ended December 2007 as against Rs 87.99 crore during the previous quarter ended December 2006. Sales rose 27.05% to Rs 520.62 crore in the quarter ended December 2007 as against Rs 409.76 crore during the previous quarter ended December 2006
Bharati Shipyard net profit rises 51.39% in the December 2007 quarter
Net profit of Bharati Shipyard rose 51.39% to Rs 26.69 crore in the quarter ended December 2007 as against Rs 17.63 crore during the previous quarter ended December 2006. Sales rose 68.71% to Rs 176.22 crore in the quarter ended December 2007 as against Rs 104.45 crore during the previous quarter ended December 2006.
Sundaram Clayton net profit declines 2.25% in the December 2007 quarter
Aarti Drugs net profit rises 34.98% in the December 2007 quarter
Net profit of Aarti Drugs rose 34.98% to Rs 3.28 crore in the quarter ended December 2007 as against Rs 2.43 crore during the previous quarter ended December 2006. Sales declined 4.45% to Rs 66.59 crore in the quarter ended December 2007 as against Rs 69.69 crore during the previous quarter ended December 2006.
Zylog Systems reports net profit of Rs 23.44 crore in the December 2007 quarter
Zylog Systems reported net profit of Rs 23.44 crore in the quarter ended December 2007. Sales reported at Rs 159.89 crore in the quarter ended December 2007.
HTMT Global Solutions reports net profit of Rs 17.08 crore in the December 2007 quarter
HTMT Global Solutions reported net profit of Rs 17.08 crore in the quarter ended December 2007. Sales reported at Rs 95.37 crore in the quarter ended December 2007
Jet Airways (India) reports net loss of Rs 91.12 crore in the December 2007 quarter
Diamond Power Infrastructure net profit rises 75.03% in the December 2007 quarter
Net profit of Diamond Power Infrastructure rose 75.03% to Rs 13.32 crore in the quarter ended December 2007 as against Rs 7.61 crore during the previous quarter ended December 2006. Sales rose 95.81% to Rs 126.96 crore in the quarter ended December 2007 as against Rs 64.84 crore during the previous quarter ended December 2006.
Shriram City Union Finance net profit rises 82.15% in the December 2007 quarter
Net profit of Shriram City Union Finance rose 82.15% to Rs 25.30 crore in the quarter ended December 2007 as against Rs 13.89 crore during the previous quarter ended December 2006. Sales rose 76.47% to Rs 158.40 crore in the quarter ended December 2007 as against Rs 89.76 crore during the previous quarter ended December 2006.
Kolte Patil Developers reports net profit of Rs 29.21 crore in the December 2007 quarter
Kolte Patil Developers reported net profit of Rs 29.21 crore in the quarter ended December 2007. Sales reported at Rs 84.46 crore in the quarter ended December 2007
Sundaram Finance net profit rises 423.71% in the December 2007 quarter
Net profit of Sundaram Finance rose 423.71% to Rs 118.62 crore in the quarter ended December 2007 as against Rs 22.65 crore during the previous quarter ended December 2006. Sales rose 38.10% to Rs 231.55 crore in the quarter ended December 2007 as against Rs 167.67 crore during the previous quarter ended December 2006
Kalyani Forge net profit declines 3.07% in the December 2007 quarter
Mirza International net profit declines 74.38% in the December 2007 quarter
Himalya International net profit rises 93.63% in the December 2007 quarter
Net profit of Himalya International rose 93.63% to Rs 3.04 crore in the quarter ended December 2007 as against Rs 1.57 crore during the previous quarter ended December 2006. Sales rose 51.50% to Rs 12.65 crore in the quarter ended December 2007 as against Rs 8.35 crore during the previous quarter ended December 2006.
Zensar Technologies net profit rises 29.66% in the December 2007 quarter
Net profit of Zensar Technologies rose 29.66% to Rs 10.36 crore in the quarter ended December 2007 as against Rs 7.99 crore during the previous quarter ended December 2006. Sales rose 30.78% to Rs 87.73 crore in the quarter ended December 2007 as against Rs 67.08 crore during the previous quarter ended December 2006
GVK Power & Infrastructure net profit rises 3286.67% in the December 2007 quarter
Net profit of GVK Power & Infrastructure rose 3286.67% to Rs 35.56 crore in the quarter ended December 2007 as against Rs 1.05 crore during the previous quarter ended December 2006. Sales rose 46.15% to Rs 3.80 crore in the quarter ended December 2007 as against Rs 2.60 crore during the previous quarter ended December 2006.
CitiPort Financial Services net profit rises 300.00% in the December 2007 quarter
Hawkins Cooker net profit rises 90.73% in the December 2007 quarter
eClerx Services reports net profit of Rs 11.72 crore in the December 2007 quarter
eClerx Services reported net profit of Rs 11.72 crore in the quarter ended December 2007. Sales reported at Rs 31.24 crore in the quarter ended December 2007.
Selan Explorations Technology net profit rises 110.22% in the December 2007 quarter
Aarti Industries net profit rises 233.98% in the December 2007 quarter
Net profit of Aarti Industries rose 233.98% to Rs 13.86 crore in the quarter ended December 2007 as against Rs 4.15 crore during the previous quarter ended December 2006. Sales rose 53.14% to Rs 269.72 crore in the quarter ended December 2007 as against Rs 176.13 crore during the previous quarter ended December 2006
Simplex Infrastructures net profit rises 27.41% in the December 2007 quarter
Net profit of Simplex Infrastructures rose 27.41% to Rs 22.03 crore in the quarter ended December 2007 as against Rs 17.29 crore during the previous quarter ended December 2006. Sales rose 65.38% to Rs 703.98 crore in the quarter ended December 2007 as against Rs 425.67 crore during the previous quarter ended December 2006.
Core Projects & Technologies net profit rises 217.75% in the December 2007 quarter
Net profit of Core Projects & Technologies rose 217.75% to Rs 10.74 crore in the quarter ended December 2007 as against Rs 3.38 crore during the previous quarter ended December 2006. Sales rose 190.15% to Rs 51.85 crore in the quarter ended December 2007 as against Rs 17.87 crore during the previous quarter ended December 2006.
Britannia Industries net profit rises 176.83% in the December 2007 quarter
Net profit of Britannia Industries rose 176.83% to Rs 45.40 crore in the quarter ended December 2007 as against Rs 16.40 crore during the previous quarter ended December 2006. Sales rose 15.71% to Rs 656.40 crore in the quarter ended December 2007 as against Rs 567.30 crore during the previous quarter ended December 2006.
Venus Remedies net profit rises 50.53% in the December 2007 quarter
Net profit of Venus Remedies rose 50.53% to Rs 11.32 crore in the quarter ended December 2007 as against Rs 7.52 crore during the previous quarter ended December 2006. Sales rose 52.52% to Rs 57.88 crore in the quarter ended December 2007 as against Rs 37.95 crore during the previous quarter ended December 2006.
Salzer Electronics net profit rises 43.75% in the December 2007 quarter
Manali Petrochemical net profit declines 80.48% in the December 2007 quarter
HCL Infosystems net profit rises 139.33% in the December 2007 quarter
Net profit of HCL Infosystems rose 139.33% to Rs 83.19 crore in the quarter ended December 2007 as against Rs 34.76 crore during the previous quarter ended December 2006. Sales rose 434.80% to Rs 3260.36 crore in the quarter ended December 2007 as against Rs 609.64 crore during the previous quarter ended December 2006.
Rama Newsprint & Paper net profit declines 95.31% in the December 2007 quarter
Dhampur Sugar Mills net profit declines 13.64% in the December 2007 quarter
FDC net profit rises 59.74% in the December 2007 quarter
Net profit of FDC rose 59.74% to Rs 21.15 crore in the quarter ended December 2007 as against Rs 13.24 crore during the previous quarter ended December 2006. Sales rose 20.75% to Rs 121.50 crore in the quarter ended December 2007 as against Rs 100.62 crore during the previous quarter ended December 2006.
Ingersoll-Rand (India) net profit rises 474.31% in the December 2007 quarter
Net profit of Ingersoll-Rand (India) rose 474.31% to Rs 83.16 crore in the quarter ended December 2007 as against Rs 14.48 crore during the previous quarter ended December 2006. Sales declined 20.76% to Rs 134.57 crore in the quarter ended December 2007 as against Rs 169.82 crore during the previous quarter ended December 2006
Max India net profit rises 444.16% in the December 2007 quarter
Net profit of Max India rose 444.16% to Rs 20.95 crore in the quarter ended December 2007 as against Rs 3.85 crore during the previous quarter ended December 2006. Sales rose 69.86% to Rs 77.49 crore in the quarter ended December 2007 as against Rs 45.62 crore during the previous quarter ended December 2006.
JSW Steel net profit declines 9.38% in the December 2007 quarter
Net profit of JSW Steel declined 9.38% to Rs 328.18 crore in the quarter ended December 2007 as against Rs 362.15 crore during the previous quarter ended December 2006. Sales rose 11.37% to Rs 2563.08 crore in the quarter ended December 2007 as against Rs 2301.50 crore during the previous quarter ended December 2006
Hindustan Motors reports net profit of Rs 28.76 crore in the December 2007 quarter
Hindustan Motors reported net profit of Rs 28.76 crore in the quarter ended December 2007 as against net loss of Rs 13.85 crore during the previous quarter ended December 2006. Sales declined 11.97% to Rs 147.34 crore in the quarter ended December 2007 as against Rs 167.37 crore during the previous quarter ended December 2006.
Hindustan Petroleum Corporation reports net loss of Rs 15.73 crore in the December 2007 quarter
Suven Life Sciences net profit declines 47.52% in the December 2007 quarter
Net profit of Suven Life Sciences declined 47.52% to Rs 2.01 crore in the quarter ended December 2007 as against Rs 3.83 crore during the previous quarter ended December 2006. Sales declined 9.03% to Rs 28.40 crore in the quarter ended December 2007 as against Rs 31.22 crore during the previous quarter ended December 2006.
DCW net profit rises 117.82% in the December 2007 quarter
Net profit of DCW rose 117.82% to Rs 13.81 crore in the quarter ended December 2007 as against Rs 6.34 crore during the previous quarter ended December 2006. Sales rose 71.80% to Rs 208.91 crore in the quarter ended December 2007 as against Rs 121.60 crore during the previous quarter ended December 2006.
Sunflag Iron & Steel Company net profit declines 18.61% in the December 2007 quarter
Net profit of Sunflag Iron & Steel Company declined 18.61% to Rs 8.66 crore in the quarter ended December 2007 as against Rs 10.64 crore during the previous quarter ended December 2006. Sales rose 27.90% to Rs 260.51 crore in the quarter ended December 2007 as against Rs 203.68 crore during the previous quarter ended December 2006.
Helios & Matheson Information Technology net profit rises 0.26% in the December 2007 quarter
Unity Infraprojects net profit rises 30.68% in the December 2007 quarter
Net profit of Unity Infraprojects rose 30.68% to Rs 17.76 crore in the quarter ended December 2007 as against Rs 13.59 crore during the previous quarter ended December 2006. Sales rose 48.48% to Rs 231.63 crore in the quarter ended December 2007 as against Rs 156.00 crore during the previous quarter ended December 2006
Techno Electric & Engineering Company net profit rises 56.87% in the December 2007 quarter
Net profit of Techno Electric & Engineering Company rose 56.87% to Rs 12.11 crore in the quarter ended December 2007 as against Rs 7.72 crore during the previous quarter ended December 2006. Sales rose 34.32% to Rs 115.11 crore in the quarter ended December 2007 as against Rs 85.70 crore during the previous quarter ended December 2006.
Motherson Sumi Systems net profit rises 2.46% in the December 2007 quarter
Andhra Cements net profit rises 468.22% in the December 2007 quarter
Net profit of Andhra Cements rose 468.22% to Rs 18.24 crore in the quarter ended December 2007 as against Rs 3.21 crore during the previous quarter ended December 2006. Sales rose 73.46% to Rs 89.75 crore in the quarter ended December 2007 as against Rs 51.74 crore during the previous quarter ended December 2006
Man Industries (India) net profit rises 25.87% in the December 2007 quarter
Net profit of Man Industries (India) rose 25.87% to Rs 20.73 crore in the quarter ended December 2007 as against Rs 16.47 crore during the previous quarter ended December 2006. Sales rose 22.66% to Rs 401.23 crore in the quarter ended December 2007 as against Rs 327.11 crore during the previous quarter ended December 2006
Tata Tea net profit declines 37.49% in the December 2007 quarter
Arvind Mills net profit declines 94.59% in the December 2007 quarter
Videocon Industries net profit rises 21.02% in the December 2007 quarter
Net profit of Videocon Industries rose 21.02% to Rs 249.49 crore in the quarter ended December 2007 as against Rs 206.16 crore during the previous quarter ended December 2006. Sales rose 14.74% to Rs 2362.16 crore in the quarter ended December 2007 as against Rs 2058.67 crore during the previous quarter ended December 2006
Facor Alloys net profit rises 325.00% in the December 2007 quarter
Net profit of Facor Alloys rose 325.00% to Rs 15.64 crore in the quarter ended December 2007 as against Rs 3.68 crore during the previous quarter ended December 2006. Sales rose 64.35% to Rs 59.43 crore in the quarter ended December 2007 as against Rs 36.16 crore during the previous quarter ended December 2006.
Sundram Fasteners net profit declines 13.85% in the December 2007 quarter
SKM Egg Products Export India net profit declines 46.15% in the December 2007 quarter
Mudra Lifestyle net profit rises 73.08% in the December 2007 quarter
Net profit of Mudra Lifestyle rose 73.08% to Rs 8.36 crore in the quarter ended December 2007 as against Rs 4.83 crore during the previous quarter ended December 2006. Sales rose 57.59% to Rs 68.85 crore in the quarter ended December 2007 as against Rs 43.69 crore during the previous quarter ended December 2006.
Cholamandalam DBS Finance net profit rises 180.08% in the December 2007 quarter
Net profit of Cholamandalam DBS Finance rose 180.08% to Rs 20.25 crore in the quarter ended December 2007 as against Rs 7.23 crore during the previous quarter ended December 2006. Sales rose 124.69% to Rs 242.55 crore in the quarter ended December 2007 as against Rs 107.95 crore during the previous quarter ended December 2006
Marg net profit rises 16.84% in the December 2007 quarter
Net profit of Marg rose 16.84% to Rs 13.32 crore in the quarter ended December 2007 as against Rs 11.40 crore during the previous quarter ended December 2006. Sales rose 99.83% to Rs 60.05 crore in the quarter ended December 2007 as against Rs 30.05 crore during the previous quarter ended December 2006.
Videsh Sanchar Nigam net profit declines 93.30% in the December 2007 quarterMangalam Cement net profit rises 26.04% in the December 2007 quarter
Matrix Laboratories net profit rises 415.77% in the December 2007 quarter
Net profit of Matrix Laboratories rose 415.77% to Rs 34.35 crore in the quarter ended December 2007 as against Rs 6.66 crore during the previous quarter ended December 2006. Sales rose 50.21% to Rs 275.72 crore in the quarter ended December 2007 as against Rs 183.56 crore during the previous quarter ended December 2006.
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Larsen & Toubro’s net profit for the quarter ended Dec 31, 2007 rose 40.10 per cent to Rs 481.79 crore against Rs 343.90 crore in the same quarter of previous year. Total income increased 52.69 per cent to Rs 6,483.55 crore from Rs 4,224.49 crore in the quarter ended Dec 2006.
Dr Reddy's down 11% as Q3 disappoints
The pharma major reported a net profit of Rs 42.29 crore for the quarter ended Dec 31, 2007, against Rs 503.40 crore in the same quarter of previous year. Total income decreased 32.29 per cent to Rs 820.68 crore from Rs 121.21 crore in the quarter ended Dec 2006. On a consolidated basis, the group posted a net profit of Rs 62.55 crore for the Oct-Dec quarter of 2007, down 91.6 per cent compared with Rs 105.63 crore in the year earlier quarter. Total income decreased 17 per cent to Rs 1,265.98 crore from Rs 1,521.48 crore in the same quarter of 2006. As per US GAAP, the group posted a net loss of Rs 84.66 crore for the quarter ended Dec 31, 2007 against a net profit of Rs 187.94 crore last year. On Friday, the stock had closed higher by 6.73 per cent at Rs 605.40 on Friday, as the earnings came post market hours.
VSNL Q3 net profit slumps 93%; share down 9%
Videsh Sanchar Nigam Ltd has posted a net profit of Rs 9.52 crore for the quarter ended Dec 31, 2007, down more than 93 per cent compared to Rs 142.28 crore in the same quarter of 2006. Total income for the quarter increased to Rs 1113.52 crore from Rs 1112.25 crore in the quarter ended Dec 31, 2006. On Friday, VSNL shares closed up 6.40 per cent at Rs 554.90 on the back of the broad market recovery. Today the share was down 9 per cent at Rs 505 on BSE.
Educomp Solutions Q3 net profit up 131.62%
Educomp Solutions' net profit for the quarter ended Dec 31, 2007 rose 131.62 per cent to Rs 19.02 crore against Rs 8.21 crore in the same quarter of earlier year. Net sales increased 159.39 per cent to Rs 71.52 crore from Rs 27.57 crore in the same quarter of 2006. At 12:11 pm, Educomp shares were down 5.44 per cent at Rs 3,923.95 on BSE.
Deccan Chronicle Q3 net profit up 112%; forms JV with Group M
Deccan Chronicle Holdings has posted a net profit of Rs 102.94 crore for the quarter ended Dec 31, 2007, compared with Rs 48.44 crore in the year-ago quarter. This represents a growth of 112 per cent. Net sales for the Oct-Dec period was higher by over 47 per cent at Rs 216.20 crore compared to Rs 146.39 crore in the same quarter previous year. The company has announced the formation of a joint venture with Group M (a WPP company), to explore the sport and event management space through its subsidiary Sieger Solutions Ltd. The board has taken on record the winning bid of $107 million for Indian Premier League for Hyderabad team. The company has also approved the launch of a financial daily and appointed Shubhrangshu Roy as chief operating officer.
Divi's Laboratories net profit rises 207.55% in the December 2007 quarter
Net profit of Divi's Laboratories rose 207.55% to Rs 100.66 crore in the quarter ended December 2007 as against Rs 32.73 crore during the previous quarter ended December 2006. Sales rose 89.96% to Rs 284.22 crore in the quarter ended December 2007 as against Rs 149.62 crore during the previous quarter ended December 2006.
Jindal Steel & Power net profit rises 68.01% in the December 2007 quarter
Net profit of Jindal Steel & Power rose 68.01% to Rs 319.05 crore in the quarter ended December 2007 as against Rs 189.90 crore during the previous quarter ended December 2006. Sales rose 38.17% to Rs 1395.61 crore in the quarter ended December 2007 as against Rs 1010.06 crore during the previous quarter ended December 2006
Sadbhav Engineering net profit rises 39.17% in the December 2007 quarter
Net profit of Sadbhav Engineering rose 39.17% to Rs 13.68 crore in the quarter ended December 2007 as against Rs 9.83 crore during the previous quarter ended December 2006. Sales rose 52.22% to Rs 230.08 crore in the quarter ended December 2007 as against Rs 151.15 crore during the previous quarter ended December 2006.
Apar Industries net profit rises 14.15% in the December 2007 quarter
Net profit of Apar Industries rose 14.15% to Rs 13.71 crore in the quarter ended December 2007 as against Rs 12.01 crore during the previous quarter ended December 2006. Sales rose 30.88% to Rs 472.90 crore in the quarter ended December 2007 as against Rs 361.31 crore during the previous quarter ended December 2006.
JIK Industries reports net loss of Rs 0.56 crore in the December 2007 quarter
Zenith Birla India net profit rises 14.35% in the December 2007 quarter
Munjal Auto Industries net profit declines 65.69% in the December 2007 quarter
Sai Service Station net profit rises 23.44% in the December 2007 quarter
First Leasing Company of India net profit declines 6.65% in the December 2007 quarter
JK Paper net profit declines 34.89% in the December 2007 quarter
Radaan Mediaworks (I) net profit declines 38.71% in the December 2007 quarter
Sakuma Exports net profit rises 101.00% in the December 2007 quarter
Surana Industries net profit rises 40.87% in the December 2007 quarter
Net profit of Surana Industries rose 40.87% to Rs 6.79 crore in the quarter ended December 2007 as against Rs 4.82 crore during the previous quarter ended December 2006. Sales rose 23.48% to Rs 165.00 crore in the quarter ended December 2007 as against Rs 133.63 crore during the previous quarter ended December 2006
Indian Hotels Co net profit rises 52.95% in the December 2007 quarter
Net profit of Indian Hotels Co rose 52.95% to Rs 134.58 crore in the quarter ended December 2007 as against Rs 87.99 crore during the previous quarter ended December 2006. Sales rose 27.05% to Rs 520.62 crore in the quarter ended December 2007 as against Rs 409.76 crore during the previous quarter ended December 2006
Bharati Shipyard net profit rises 51.39% in the December 2007 quarter
Net profit of Bharati Shipyard rose 51.39% to Rs 26.69 crore in the quarter ended December 2007 as against Rs 17.63 crore during the previous quarter ended December 2006. Sales rose 68.71% to Rs 176.22 crore in the quarter ended December 2007 as against Rs 104.45 crore during the previous quarter ended December 2006.
Sundaram Clayton net profit declines 2.25% in the December 2007 quarter
Aarti Drugs net profit rises 34.98% in the December 2007 quarter
Net profit of Aarti Drugs rose 34.98% to Rs 3.28 crore in the quarter ended December 2007 as against Rs 2.43 crore during the previous quarter ended December 2006. Sales declined 4.45% to Rs 66.59 crore in the quarter ended December 2007 as against Rs 69.69 crore during the previous quarter ended December 2006.
Zylog Systems reports net profit of Rs 23.44 crore in the December 2007 quarter
Zylog Systems reported net profit of Rs 23.44 crore in the quarter ended December 2007. Sales reported at Rs 159.89 crore in the quarter ended December 2007.
HTMT Global Solutions reports net profit of Rs 17.08 crore in the December 2007 quarter
HTMT Global Solutions reported net profit of Rs 17.08 crore in the quarter ended December 2007. Sales reported at Rs 95.37 crore in the quarter ended December 2007
Jet Airways (India) reports net loss of Rs 91.12 crore in the December 2007 quarter
Diamond Power Infrastructure net profit rises 75.03% in the December 2007 quarter
Net profit of Diamond Power Infrastructure rose 75.03% to Rs 13.32 crore in the quarter ended December 2007 as against Rs 7.61 crore during the previous quarter ended December 2006. Sales rose 95.81% to Rs 126.96 crore in the quarter ended December 2007 as against Rs 64.84 crore during the previous quarter ended December 2006.
Shriram City Union Finance net profit rises 82.15% in the December 2007 quarter
Net profit of Shriram City Union Finance rose 82.15% to Rs 25.30 crore in the quarter ended December 2007 as against Rs 13.89 crore during the previous quarter ended December 2006. Sales rose 76.47% to Rs 158.40 crore in the quarter ended December 2007 as against Rs 89.76 crore during the previous quarter ended December 2006.
Kolte Patil Developers reports net profit of Rs 29.21 crore in the December 2007 quarter
Kolte Patil Developers reported net profit of Rs 29.21 crore in the quarter ended December 2007. Sales reported at Rs 84.46 crore in the quarter ended December 2007
Sundaram Finance net profit rises 423.71% in the December 2007 quarter
Net profit of Sundaram Finance rose 423.71% to Rs 118.62 crore in the quarter ended December 2007 as against Rs 22.65 crore during the previous quarter ended December 2006. Sales rose 38.10% to Rs 231.55 crore in the quarter ended December 2007 as against Rs 167.67 crore during the previous quarter ended December 2006
Kalyani Forge net profit declines 3.07% in the December 2007 quarter
Mirza International net profit declines 74.38% in the December 2007 quarter
Himalya International net profit rises 93.63% in the December 2007 quarter
Net profit of Himalya International rose 93.63% to Rs 3.04 crore in the quarter ended December 2007 as against Rs 1.57 crore during the previous quarter ended December 2006. Sales rose 51.50% to Rs 12.65 crore in the quarter ended December 2007 as against Rs 8.35 crore during the previous quarter ended December 2006.
Zensar Technologies net profit rises 29.66% in the December 2007 quarter
Net profit of Zensar Technologies rose 29.66% to Rs 10.36 crore in the quarter ended December 2007 as against Rs 7.99 crore during the previous quarter ended December 2006. Sales rose 30.78% to Rs 87.73 crore in the quarter ended December 2007 as against Rs 67.08 crore during the previous quarter ended December 2006
GVK Power & Infrastructure net profit rises 3286.67% in the December 2007 quarter
Net profit of GVK Power & Infrastructure rose 3286.67% to Rs 35.56 crore in the quarter ended December 2007 as against Rs 1.05 crore during the previous quarter ended December 2006. Sales rose 46.15% to Rs 3.80 crore in the quarter ended December 2007 as against Rs 2.60 crore during the previous quarter ended December 2006.
CitiPort Financial Services net profit rises 300.00% in the December 2007 quarter
Hawkins Cooker net profit rises 90.73% in the December 2007 quarter
eClerx Services reports net profit of Rs 11.72 crore in the December 2007 quarter
eClerx Services reported net profit of Rs 11.72 crore in the quarter ended December 2007. Sales reported at Rs 31.24 crore in the quarter ended December 2007.
Selan Explorations Technology net profit rises 110.22% in the December 2007 quarter
Aarti Industries net profit rises 233.98% in the December 2007 quarter
Net profit of Aarti Industries rose 233.98% to Rs 13.86 crore in the quarter ended December 2007 as against Rs 4.15 crore during the previous quarter ended December 2006. Sales rose 53.14% to Rs 269.72 crore in the quarter ended December 2007 as against Rs 176.13 crore during the previous quarter ended December 2006
Simplex Infrastructures net profit rises 27.41% in the December 2007 quarter
Net profit of Simplex Infrastructures rose 27.41% to Rs 22.03 crore in the quarter ended December 2007 as against Rs 17.29 crore during the previous quarter ended December 2006. Sales rose 65.38% to Rs 703.98 crore in the quarter ended December 2007 as against Rs 425.67 crore during the previous quarter ended December 2006.
Core Projects & Technologies net profit rises 217.75% in the December 2007 quarter
Net profit of Core Projects & Technologies rose 217.75% to Rs 10.74 crore in the quarter ended December 2007 as against Rs 3.38 crore during the previous quarter ended December 2006. Sales rose 190.15% to Rs 51.85 crore in the quarter ended December 2007 as against Rs 17.87 crore during the previous quarter ended December 2006.
Britannia Industries net profit rises 176.83% in the December 2007 quarter
Net profit of Britannia Industries rose 176.83% to Rs 45.40 crore in the quarter ended December 2007 as against Rs 16.40 crore during the previous quarter ended December 2006. Sales rose 15.71% to Rs 656.40 crore in the quarter ended December 2007 as against Rs 567.30 crore during the previous quarter ended December 2006.
Venus Remedies net profit rises 50.53% in the December 2007 quarter
Net profit of Venus Remedies rose 50.53% to Rs 11.32 crore in the quarter ended December 2007 as against Rs 7.52 crore during the previous quarter ended December 2006. Sales rose 52.52% to Rs 57.88 crore in the quarter ended December 2007 as against Rs 37.95 crore during the previous quarter ended December 2006.
Salzer Electronics net profit rises 43.75% in the December 2007 quarter
Manali Petrochemical net profit declines 80.48% in the December 2007 quarter
HCL Infosystems net profit rises 139.33% in the December 2007 quarter
Net profit of HCL Infosystems rose 139.33% to Rs 83.19 crore in the quarter ended December 2007 as against Rs 34.76 crore during the previous quarter ended December 2006. Sales rose 434.80% to Rs 3260.36 crore in the quarter ended December 2007 as against Rs 609.64 crore during the previous quarter ended December 2006.
Rama Newsprint & Paper net profit declines 95.31% in the December 2007 quarter
Dhampur Sugar Mills net profit declines 13.64% in the December 2007 quarter
FDC net profit rises 59.74% in the December 2007 quarter
Net profit of FDC rose 59.74% to Rs 21.15 crore in the quarter ended December 2007 as against Rs 13.24 crore during the previous quarter ended December 2006. Sales rose 20.75% to Rs 121.50 crore in the quarter ended December 2007 as against Rs 100.62 crore during the previous quarter ended December 2006.
Ingersoll-Rand (India) net profit rises 474.31% in the December 2007 quarter
Net profit of Ingersoll-Rand (India) rose 474.31% to Rs 83.16 crore in the quarter ended December 2007 as against Rs 14.48 crore during the previous quarter ended December 2006. Sales declined 20.76% to Rs 134.57 crore in the quarter ended December 2007 as against Rs 169.82 crore during the previous quarter ended December 2006
Max India net profit rises 444.16% in the December 2007 quarter
Net profit of Max India rose 444.16% to Rs 20.95 crore in the quarter ended December 2007 as against Rs 3.85 crore during the previous quarter ended December 2006. Sales rose 69.86% to Rs 77.49 crore in the quarter ended December 2007 as against Rs 45.62 crore during the previous quarter ended December 2006.
JSW Steel net profit declines 9.38% in the December 2007 quarter
Net profit of JSW Steel declined 9.38% to Rs 328.18 crore in the quarter ended December 2007 as against Rs 362.15 crore during the previous quarter ended December 2006. Sales rose 11.37% to Rs 2563.08 crore in the quarter ended December 2007 as against Rs 2301.50 crore during the previous quarter ended December 2006
Hindustan Motors reports net profit of Rs 28.76 crore in the December 2007 quarter
Hindustan Motors reported net profit of Rs 28.76 crore in the quarter ended December 2007 as against net loss of Rs 13.85 crore during the previous quarter ended December 2006. Sales declined 11.97% to Rs 147.34 crore in the quarter ended December 2007 as against Rs 167.37 crore during the previous quarter ended December 2006.
Hindustan Petroleum Corporation reports net loss of Rs 15.73 crore in the December 2007 quarter
Suven Life Sciences net profit declines 47.52% in the December 2007 quarter
Net profit of Suven Life Sciences declined 47.52% to Rs 2.01 crore in the quarter ended December 2007 as against Rs 3.83 crore during the previous quarter ended December 2006. Sales declined 9.03% to Rs 28.40 crore in the quarter ended December 2007 as against Rs 31.22 crore during the previous quarter ended December 2006.
DCW net profit rises 117.82% in the December 2007 quarter
Net profit of DCW rose 117.82% to Rs 13.81 crore in the quarter ended December 2007 as against Rs 6.34 crore during the previous quarter ended December 2006. Sales rose 71.80% to Rs 208.91 crore in the quarter ended December 2007 as against Rs 121.60 crore during the previous quarter ended December 2006.
Sunflag Iron & Steel Company net profit declines 18.61% in the December 2007 quarter
Net profit of Sunflag Iron & Steel Company declined 18.61% to Rs 8.66 crore in the quarter ended December 2007 as against Rs 10.64 crore during the previous quarter ended December 2006. Sales rose 27.90% to Rs 260.51 crore in the quarter ended December 2007 as against Rs 203.68 crore during the previous quarter ended December 2006.
Helios & Matheson Information Technology net profit rises 0.26% in the December 2007 quarter
Unity Infraprojects net profit rises 30.68% in the December 2007 quarter
Net profit of Unity Infraprojects rose 30.68% to Rs 17.76 crore in the quarter ended December 2007 as against Rs 13.59 crore during the previous quarter ended December 2006. Sales rose 48.48% to Rs 231.63 crore in the quarter ended December 2007 as against Rs 156.00 crore during the previous quarter ended December 2006
Techno Electric & Engineering Company net profit rises 56.87% in the December 2007 quarter
Net profit of Techno Electric & Engineering Company rose 56.87% to Rs 12.11 crore in the quarter ended December 2007 as against Rs 7.72 crore during the previous quarter ended December 2006. Sales rose 34.32% to Rs 115.11 crore in the quarter ended December 2007 as against Rs 85.70 crore during the previous quarter ended December 2006.
Motherson Sumi Systems net profit rises 2.46% in the December 2007 quarter
Andhra Cements net profit rises 468.22% in the December 2007 quarter
Net profit of Andhra Cements rose 468.22% to Rs 18.24 crore in the quarter ended December 2007 as against Rs 3.21 crore during the previous quarter ended December 2006. Sales rose 73.46% to Rs 89.75 crore in the quarter ended December 2007 as against Rs 51.74 crore during the previous quarter ended December 2006
Man Industries (India) net profit rises 25.87% in the December 2007 quarter
Net profit of Man Industries (India) rose 25.87% to Rs 20.73 crore in the quarter ended December 2007 as against Rs 16.47 crore during the previous quarter ended December 2006. Sales rose 22.66% to Rs 401.23 crore in the quarter ended December 2007 as against Rs 327.11 crore during the previous quarter ended December 2006
Tata Tea net profit declines 37.49% in the December 2007 quarter
Arvind Mills net profit declines 94.59% in the December 2007 quarter
Videocon Industries net profit rises 21.02% in the December 2007 quarter
Net profit of Videocon Industries rose 21.02% to Rs 249.49 crore in the quarter ended December 2007 as against Rs 206.16 crore during the previous quarter ended December 2006. Sales rose 14.74% to Rs 2362.16 crore in the quarter ended December 2007 as against Rs 2058.67 crore during the previous quarter ended December 2006
Facor Alloys net profit rises 325.00% in the December 2007 quarter
Net profit of Facor Alloys rose 325.00% to Rs 15.64 crore in the quarter ended December 2007 as against Rs 3.68 crore during the previous quarter ended December 2006. Sales rose 64.35% to Rs 59.43 crore in the quarter ended December 2007 as against Rs 36.16 crore during the previous quarter ended December 2006.
Sundram Fasteners net profit declines 13.85% in the December 2007 quarter
SKM Egg Products Export India net profit declines 46.15% in the December 2007 quarter
Mudra Lifestyle net profit rises 73.08% in the December 2007 quarter
Net profit of Mudra Lifestyle rose 73.08% to Rs 8.36 crore in the quarter ended December 2007 as against Rs 4.83 crore during the previous quarter ended December 2006. Sales rose 57.59% to Rs 68.85 crore in the quarter ended December 2007 as against Rs 43.69 crore during the previous quarter ended December 2006.
Cholamandalam DBS Finance net profit rises 180.08% in the December 2007 quarter
Net profit of Cholamandalam DBS Finance rose 180.08% to Rs 20.25 crore in the quarter ended December 2007 as against Rs 7.23 crore during the previous quarter ended December 2006. Sales rose 124.69% to Rs 242.55 crore in the quarter ended December 2007 as against Rs 107.95 crore during the previous quarter ended December 2006
Marg net profit rises 16.84% in the December 2007 quarter
Net profit of Marg rose 16.84% to Rs 13.32 crore in the quarter ended December 2007 as against Rs 11.40 crore during the previous quarter ended December 2006. Sales rose 99.83% to Rs 60.05 crore in the quarter ended December 2007 as against Rs 30.05 crore during the previous quarter ended December 2006.
Videsh Sanchar Nigam net profit declines 93.30% in the December 2007 quarterMangalam Cement net profit rises 26.04% in the December 2007 quarter
Matrix Laboratories net profit rises 415.77% in the December 2007 quarter
Net profit of Matrix Laboratories rose 415.77% to Rs 34.35 crore in the quarter ended December 2007 as against Rs 6.66 crore during the previous quarter ended December 2006. Sales rose 50.21% to Rs 275.72 crore in the quarter ended December 2007 as against Rs 183.56 crore during the previous quarter ended December 2006.
Source: http://www.capitalmarket.com and 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.
RBI Q3 Review :Highlights of Macroeconomic and Monetary Developments in India
RBI Q3 Review :Highlights of Macroeconomic and Monetary Developments in India
Highlights of Macroeconomic and Monetary Developments in India
The Reserve Bank of India today released the document `Macroeconomic and Monetary Developments: Third Quarter Review 2007-08` to serve as a backdrop to the Third-Quarter Review of the Annual Policy Statement for 2007-08 being announced on Jan. 29, 2008.The highlights of macroeconomic and monetary developments during 2007-08 so far are:
The Real Economy
* The Indian economy continued to exhibit robust growth during the second quarter (July-September) of 2007-08, albeit with some moderation. According to the estimates released by the Central Statistical Organisation (CSO) in August 2007, real GDP growth was 8.9 per cent during the second quarter of 2007-08 as compared with 10.2 % during the same period in 2006-07. While `agriculture and allied activities` recorded higher growth during the first half of 2007-08 over the corresponding period of the previous year, the growth of industrial and services sectors was somewhat lower than that during the first half of the previous year.* The cumulative rainfall during the South-West monsoon season 2007 (June 1 to September 30) was 5 % above normal as compared with one per cent below normal during the corresponding period of the previous year. Cumulative rainfall during the North-East monsoon (October 1, 2007 to December 31, 2007) was 32 % below normal as compared with 21 %below normal during the corresponding period of the previous year. The reported sown area of kharif crops (up to October 26, 2007) increased by 2.7 per cent, while that of rabi crops (up to January 18, 2008) was about 3.7 % lower than a year ago.* During April-November 2007, the index of industrial production (IIP) rose by 9.2 % as compared with the increase of 10.9 % recorded during the corresponding period of the previous year. The manufacturing sector registered a growth of 9.8 % during April-November 2007 as compared with 11.8 % during April-August 2006.* During April-November 2007, the infrastructure sector recorded a growth of 6.0 % as compared with 8.9 % a year ago, with all the sectors exhibiting growth rates lower than a year ago.* The services sector continued to record double-digit growth (10.5 %) in April-September 2007. Leading indicators of service sector activity for April-October 2007 show that growth rates in revenue earning freight traffic of the railways, commercial vehicles production, new cell phone connections, passengers handled by civil aviation at domestic terminals, cement and steel moderated albeit over a high base.
Fiscal
Situation
* According to the latest information on Central Government finances for 2007-08 (April-November), key deficit indicators, viz., revenue deficit and GFD, were placed lower than those in the corresponding period of the previous year, both in absolute terms and per cent of the budget estimates. Apart from the lower revenue deficit, contraction in defence capital outlay also moderated the fiscal deficit. There was a primary surplus of Rs. 73.74 billion during April-November 2007 as compared with a budgeted surplus of Rs. 80.47 billion.* Gross and net market borrowings (including 364-day Treasury Bills) of the Central Government during 2007-08 (up to January 25, 2008) were Rs.1,734.29 billion and Rs.1,030.92 billion, respectively, accounting for 91.8 % and 94.1 % of the estimated borrowings for the year.* During 2007-08 (up to January 25, 2008), the States raised market loans amounting to Rs.474.49 billion through auctions, as compared with Rs. 142.04 billion during the corresponding period of the previous year.
Price Situation
* Headline inflation firmed up in major economies during the third quarter of 2007-08, reflecting the combined impact of higher food and fuel prices as well as strong demand conditions, especially in emerging markets. The monetary policy response during the quarter, however, was mixed in view of heightened concerns about the implications of credit crunch arising out of the US sub-prime crisis on financial stability.* Global commodity prices firmed up during the third quarter of 2007-08 led by food and crude oil prices, although there was some moderation in prices of metals. International crude oil prices, represented by the West Texas Intermediate (WTI), touched a historical peak of USD 99.6 a barrel level on January 2, 2008. Although the prices eased somewhat subsequently, they continued to remain at an elevated level (USD 89.9 a barrel on January 23, 2008). International food prices firmed up further during the third quarter of 2007-08 led by wheat and oilseeds/edible oils, reflecting surging demand (both consumption demand and demand for non-food uses such as bio-fuels production) and low stocks of major crops, partly on account of weather related disturbances.* In India, headline inflation, based on movement in the wholesale price index (WPI) was 3.8% on January 12, 2008 (3.4 % at end-September 2007) as compared with 5.9% at end-March 2007 (and 6.2% a year ago). The easing in inflation from a year ago was mainly led by primary food articles and some manufactured products items.* Primary articles` inflation, y-o-y, eased to 3.9 % on January 12, 2008 from 6.2%at end-September 2007 and 9.5 % a year ago; it was 10.7 % at end-March 2007. The deceleration was mainly due to easing of food articles`` inflation. Manufactured products inflation, y-o-y, eased to 3.9 % on January 12, 2008 from 4.5 % at end-September 2007 and 6.1 % at end-March 2007; it was 5.8 % a year ago. The deceleration in manufactured products inflation, y-o-y, was mainly due to decline in the prices of non-ferrous metals, textiles and sugar. Fuel group inflation, which was negative during June-November 2007, turned positive from the beginning of December 2007 (3.7 % on January 12, 2008) partly reflecting the base effects of fuel (petrol and diesel) price cuts last year and increase in the prices of some petroleum products such as naphtha, furnace oil and aviation turbine fuel.* Inflation based on year-on-year variation in consumer price indices (CPIs) also eased during November/December 2007 (from a year ago) but continued to remain above the WPI inflation, mainly reflecting the impact of food prices and their higher weights in the CPI vis-a-vis WPI. CPI inflation measures were placed in the range of 5.1-5.9 % during November/December 2007 as compared with 5.7-7.9 % in September 2007 (and 6.7-9.5 % in March 2007).Monetary and Liquidity Conditions* Growth in broad money (M3), year-on-year (y-o-y), was 22.4 %(Rs. 6,869.25 billion) on January 4, 2008 as compared with 20.8 % (Rs. 5,265.66 billion) a year ago.* Aggregate deposits of banks, y-o-y, increased by 23.8 % (Rs.6,170.35 billion) on January 4, 2008 as compared with 21.5 % (Rs. 4,590.21 billion) a year ago.* Growth in bank credit moderated after the strong pace in the preceding three years. Non-food credit by scheduled commercial banks (SCBs) moderated to 22.2%(Rs.3,821.55 billion), y-o-y, as on January 4, 2008 from 31.9 % (Rs.4,164.18 billion) a year ago.* Reserve money expanded by 30.6 %, y-o-y, as on January 18, 2008 as compared with 20.0 % a year ago. Adjusted for the first round impact of the hike in the cash reserve ratio, reserve money growth was 21.5 % as compared with 17.5 % a year ago.* Liquidity conditions continued to be influenced by movements in capital flows and cash balances of the Governments. The Reserve Bank continued with the policy of active management of liquidity through increase in the cash reserve ratio (CRR), issuances of securities under the market stabilisation scheme (MSS) and operations under liquidity adjustment facility (LAF).Financial Markets* During the third quarter of 2007-08, international financial markets remained volatile as uncertainties about the US sub-prime mortgage market and other credit markets exposures persisted.* Indian financial markets remained generally orderly for the most part of the third quarter of 2007-08 except for some volatility in the equity market. Swings in cash balances of the Government and capital flows were the main drivers of liquidity conditions in the financial markets.* Interest rates in the overnight money markets mostly remained within the informal corridor set by reverse repo and repo rates during the third quarter of 2007-08. Interest rates in the collateralised segment of the overnight money market hardened but remained below the call rate during the quarter.* In the foreign exchange market, the Indian rupee generally appreciated during the quarter vis-a-vis all major currencies (US dollar, Euro, Pound sterling and Japanese yen).* Yields in the Government securities market remained range-bound, partly reflecting global trends in yields. Yields softened beginning in the first week of January 2008. The 10-year yield moved in a range of 7.42-8.32 % during 2007-08 (up to January 23, 2008).The External Economy* India`s balance of payments position continued to remain comfortable during the first half of 2007-08 (April-September). The merchandise trade deficit, on balance of payments basis, widened to USD 42.4 billion in April-September 2007 from USD 33.8 billion in April-September 2006. Net surplus under invisibles (services, transfers and income taken together) was higher at USD 31.7 billion in April-September 2007 (USD 23.4 billion in April-September 2006). The net invisible surplus offset a large part of the trade deficit (74.7 % during April-September 2007 as compared with 69.4 % during April-September 2006).* Despite large merchandise trade deficit, higher net invisible surplus, mainly emanating from private transfers, contained the current account deficit at USD 10.7 billion in the first half of 2007-08 (USD 10.3 billion in April-September 2006). The current account deficit was financed by capital flows which have remained large during 2007-08 so far.* During 2007-08 (up to January 11, 2008), net inflows by FIIs amounted to USD 26.8 billion (USD 2.5 billion in the corresponding period of 2006-07). Inflows under foreign direct investment (FDI) were USD 13.8 billion during April-November 2007 as against USD 10.1 billion during the corresponding period of the previous year. During the current financial year 2007-08 (April-September), inflows (net) under external commercial borrowings (ECBs) amounted to USD 10.6 billion (USD 5.7 billion during April-September 2006). The ECB approvals (including under the automatic route) amounted to USD 23.3 billion during April-December 2007 as compared with USD 15.3 billion during April-December 2006. Non-resident Indians? deposits registered net outflows of USD 433 million during April-September 2007 as against net inflows of USD 3.0 billion during April-September 2006.* According to the data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), during 2007-08 so far (April-November), merchandise exports posted a growth rate of around 22 % moderating from the growth rate of 26.2 % during April-November 2006, while growth in imports at 26.9 % was marginally lower than that of 27.4 % in April-November 2006. Non-oil imports recorded a substantial increase, while oil imports showed a sharp deceleration in growth. Overall, the merchandise trade deficit widened to USD 52.8 billion in April-November 2007 from USD 38.5 billion in April-November 2006.* India`s foreign exchange reserves were USD 284.9 billion as on Jan. 18, 2008, showing an increase of USD 85.7 billion over end-March 2007.
For more details visit @ http://www.rbi.org.in/scripts/AnnualPublications.aspx?head=Macroeconomic%20and%20Monetary%20Developments
Source: www.rbi.org.in & http://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.
Highlights of Macroeconomic and Monetary Developments in India
The Reserve Bank of India today released the document `Macroeconomic and Monetary Developments: Third Quarter Review 2007-08` to serve as a backdrop to the Third-Quarter Review of the Annual Policy Statement for 2007-08 being announced on Jan. 29, 2008.The highlights of macroeconomic and monetary developments during 2007-08 so far are:
The Real Economy
* The Indian economy continued to exhibit robust growth during the second quarter (July-September) of 2007-08, albeit with some moderation. According to the estimates released by the Central Statistical Organisation (CSO) in August 2007, real GDP growth was 8.9 per cent during the second quarter of 2007-08 as compared with 10.2 % during the same period in 2006-07. While `agriculture and allied activities` recorded higher growth during the first half of 2007-08 over the corresponding period of the previous year, the growth of industrial and services sectors was somewhat lower than that during the first half of the previous year.* The cumulative rainfall during the South-West monsoon season 2007 (June 1 to September 30) was 5 % above normal as compared with one per cent below normal during the corresponding period of the previous year. Cumulative rainfall during the North-East monsoon (October 1, 2007 to December 31, 2007) was 32 % below normal as compared with 21 %below normal during the corresponding period of the previous year. The reported sown area of kharif crops (up to October 26, 2007) increased by 2.7 per cent, while that of rabi crops (up to January 18, 2008) was about 3.7 % lower than a year ago.* During April-November 2007, the index of industrial production (IIP) rose by 9.2 % as compared with the increase of 10.9 % recorded during the corresponding period of the previous year. The manufacturing sector registered a growth of 9.8 % during April-November 2007 as compared with 11.8 % during April-August 2006.* During April-November 2007, the infrastructure sector recorded a growth of 6.0 % as compared with 8.9 % a year ago, with all the sectors exhibiting growth rates lower than a year ago.* The services sector continued to record double-digit growth (10.5 %) in April-September 2007. Leading indicators of service sector activity for April-October 2007 show that growth rates in revenue earning freight traffic of the railways, commercial vehicles production, new cell phone connections, passengers handled by civil aviation at domestic terminals, cement and steel moderated albeit over a high base.
Fiscal
Situation
* According to the latest information on Central Government finances for 2007-08 (April-November), key deficit indicators, viz., revenue deficit and GFD, were placed lower than those in the corresponding period of the previous year, both in absolute terms and per cent of the budget estimates. Apart from the lower revenue deficit, contraction in defence capital outlay also moderated the fiscal deficit. There was a primary surplus of Rs. 73.74 billion during April-November 2007 as compared with a budgeted surplus of Rs. 80.47 billion.* Gross and net market borrowings (including 364-day Treasury Bills) of the Central Government during 2007-08 (up to January 25, 2008) were Rs.1,734.29 billion and Rs.1,030.92 billion, respectively, accounting for 91.8 % and 94.1 % of the estimated borrowings for the year.* During 2007-08 (up to January 25, 2008), the States raised market loans amounting to Rs.474.49 billion through auctions, as compared with Rs. 142.04 billion during the corresponding period of the previous year.
Price Situation
* Headline inflation firmed up in major economies during the third quarter of 2007-08, reflecting the combined impact of higher food and fuel prices as well as strong demand conditions, especially in emerging markets. The monetary policy response during the quarter, however, was mixed in view of heightened concerns about the implications of credit crunch arising out of the US sub-prime crisis on financial stability.* Global commodity prices firmed up during the third quarter of 2007-08 led by food and crude oil prices, although there was some moderation in prices of metals. International crude oil prices, represented by the West Texas Intermediate (WTI), touched a historical peak of USD 99.6 a barrel level on January 2, 2008. Although the prices eased somewhat subsequently, they continued to remain at an elevated level (USD 89.9 a barrel on January 23, 2008). International food prices firmed up further during the third quarter of 2007-08 led by wheat and oilseeds/edible oils, reflecting surging demand (both consumption demand and demand for non-food uses such as bio-fuels production) and low stocks of major crops, partly on account of weather related disturbances.* In India, headline inflation, based on movement in the wholesale price index (WPI) was 3.8% on January 12, 2008 (3.4 % at end-September 2007) as compared with 5.9% at end-March 2007 (and 6.2% a year ago). The easing in inflation from a year ago was mainly led by primary food articles and some manufactured products items.* Primary articles` inflation, y-o-y, eased to 3.9 % on January 12, 2008 from 6.2%at end-September 2007 and 9.5 % a year ago; it was 10.7 % at end-March 2007. The deceleration was mainly due to easing of food articles`` inflation. Manufactured products inflation, y-o-y, eased to 3.9 % on January 12, 2008 from 4.5 % at end-September 2007 and 6.1 % at end-March 2007; it was 5.8 % a year ago. The deceleration in manufactured products inflation, y-o-y, was mainly due to decline in the prices of non-ferrous metals, textiles and sugar. Fuel group inflation, which was negative during June-November 2007, turned positive from the beginning of December 2007 (3.7 % on January 12, 2008) partly reflecting the base effects of fuel (petrol and diesel) price cuts last year and increase in the prices of some petroleum products such as naphtha, furnace oil and aviation turbine fuel.* Inflation based on year-on-year variation in consumer price indices (CPIs) also eased during November/December 2007 (from a year ago) but continued to remain above the WPI inflation, mainly reflecting the impact of food prices and their higher weights in the CPI vis-a-vis WPI. CPI inflation measures were placed in the range of 5.1-5.9 % during November/December 2007 as compared with 5.7-7.9 % in September 2007 (and 6.7-9.5 % in March 2007).Monetary and Liquidity Conditions* Growth in broad money (M3), year-on-year (y-o-y), was 22.4 %(Rs. 6,869.25 billion) on January 4, 2008 as compared with 20.8 % (Rs. 5,265.66 billion) a year ago.* Aggregate deposits of banks, y-o-y, increased by 23.8 % (Rs.6,170.35 billion) on January 4, 2008 as compared with 21.5 % (Rs. 4,590.21 billion) a year ago.* Growth in bank credit moderated after the strong pace in the preceding three years. Non-food credit by scheduled commercial banks (SCBs) moderated to 22.2%(Rs.3,821.55 billion), y-o-y, as on January 4, 2008 from 31.9 % (Rs.4,164.18 billion) a year ago.* Reserve money expanded by 30.6 %, y-o-y, as on January 18, 2008 as compared with 20.0 % a year ago. Adjusted for the first round impact of the hike in the cash reserve ratio, reserve money growth was 21.5 % as compared with 17.5 % a year ago.* Liquidity conditions continued to be influenced by movements in capital flows and cash balances of the Governments. The Reserve Bank continued with the policy of active management of liquidity through increase in the cash reserve ratio (CRR), issuances of securities under the market stabilisation scheme (MSS) and operations under liquidity adjustment facility (LAF).Financial Markets* During the third quarter of 2007-08, international financial markets remained volatile as uncertainties about the US sub-prime mortgage market and other credit markets exposures persisted.* Indian financial markets remained generally orderly for the most part of the third quarter of 2007-08 except for some volatility in the equity market. Swings in cash balances of the Government and capital flows were the main drivers of liquidity conditions in the financial markets.* Interest rates in the overnight money markets mostly remained within the informal corridor set by reverse repo and repo rates during the third quarter of 2007-08. Interest rates in the collateralised segment of the overnight money market hardened but remained below the call rate during the quarter.* In the foreign exchange market, the Indian rupee generally appreciated during the quarter vis-a-vis all major currencies (US dollar, Euro, Pound sterling and Japanese yen).* Yields in the Government securities market remained range-bound, partly reflecting global trends in yields. Yields softened beginning in the first week of January 2008. The 10-year yield moved in a range of 7.42-8.32 % during 2007-08 (up to January 23, 2008).The External Economy* India`s balance of payments position continued to remain comfortable during the first half of 2007-08 (April-September). The merchandise trade deficit, on balance of payments basis, widened to USD 42.4 billion in April-September 2007 from USD 33.8 billion in April-September 2006. Net surplus under invisibles (services, transfers and income taken together) was higher at USD 31.7 billion in April-September 2007 (USD 23.4 billion in April-September 2006). The net invisible surplus offset a large part of the trade deficit (74.7 % during April-September 2007 as compared with 69.4 % during April-September 2006).* Despite large merchandise trade deficit, higher net invisible surplus, mainly emanating from private transfers, contained the current account deficit at USD 10.7 billion in the first half of 2007-08 (USD 10.3 billion in April-September 2006). The current account deficit was financed by capital flows which have remained large during 2007-08 so far.* During 2007-08 (up to January 11, 2008), net inflows by FIIs amounted to USD 26.8 billion (USD 2.5 billion in the corresponding period of 2006-07). Inflows under foreign direct investment (FDI) were USD 13.8 billion during April-November 2007 as against USD 10.1 billion during the corresponding period of the previous year. During the current financial year 2007-08 (April-September), inflows (net) under external commercial borrowings (ECBs) amounted to USD 10.6 billion (USD 5.7 billion during April-September 2006). The ECB approvals (including under the automatic route) amounted to USD 23.3 billion during April-December 2007 as compared with USD 15.3 billion during April-December 2006. Non-resident Indians? deposits registered net outflows of USD 433 million during April-September 2007 as against net inflows of USD 3.0 billion during April-September 2006.* According to the data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), during 2007-08 so far (April-November), merchandise exports posted a growth rate of around 22 % moderating from the growth rate of 26.2 % during April-November 2006, while growth in imports at 26.9 % was marginally lower than that of 27.4 % in April-November 2006. Non-oil imports recorded a substantial increase, while oil imports showed a sharp deceleration in growth. Overall, the merchandise trade deficit widened to USD 52.8 billion in April-November 2007 from USD 38.5 billion in April-November 2006.* India`s foreign exchange reserves were USD 284.9 billion as on Jan. 18, 2008, showing an increase of USD 85.7 billion over end-March 2007.
For more details visit @ http://www.rbi.org.in/scripts/AnnualPublications.aspx?head=Macroeconomic%20and%20Monetary%20Developments
Source: www.rbi.org.in & http://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.
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