ET, Rediff Stories

http://economictimes.indiatimes.com/headlines.cms


ICICI Venture arm to invest Rs 65 crore in Medica Synergie
Reliance Power IPO likely to generate surplus money for banks

My father would have been a happy man: Anil Ambani on REPL IPO
Cals to raise $250 mn through FCCBs
Saudi oil minister concerned about low inventories
Essar Oil picks 50% in Kenya Petroleum
Sizzling crude prices to hurt oil retailers most
GAIL to lay Rs 25,00 cr gas pipeline from Dabhol to Bangalore
Essar Oil buys 50 pct in Kenya Petroleum

Navratna status to NMDC in a few days: Paswan
Subhash Projects bags Rs 145-crore orders
Angel investors for start-up ventures
India tops with 160 PE fund houses, China has 115
Heard on the street: Patel Engineering, XL Telecom, Jhunjhunwala Vanaspati

Reliance Power IPO trades at 80% premium in grey market
Reliance IPO subscribed over 6 times in 1 hr
Reliance Power IPO subscribed 9.37 times
J Kumar Infraprojects IPO to open Jan 18
Future Capital IPO gets subscribed 27 times till third day
Reliance Power IPO: HNI segment oversubscribed 7.4 times
Avesthagen to tap capital market for Rs 1,200 crore
Broking houses advise caution on Reliance Power issue


Anil's IPO gets better first-day response than Mukesh's
Reliance Power IPO makes history with huge first day demand
Reliance Power IPO beats expectations

-------------------------------
Rediff.com

• Anil Ambani set to be richest Indian? RPL IPO• Laptops at Rs 14,000 from HCL Tata Nano• Rolls-Royce sold 11 Phantoms in India in 2007• Slide show: Who invented the Jaipur foot?• Opening a bank a/c? Buy insurance first!• Some fantastic cars, bikes on way to India!



Source: Economic Times, Rediff. 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: Apollo tyres, PSL, Orient Paper, Gremach, JK Lakshmi, Vakrangee etc

Apollo Tyres Q3 net profit at Rs 62 cr view table
15th-Jan-2008

Apollo Tyres has announced its third quarter numbers. It has posted standalone net profit of Rs 62 crore for the quarter ended December 2007 as against Rs 35.07 crore in same quarter of last year on net sales of Rs 974 crore versus Rs 857 crore.

------------------------------------------------
Krishna Lifestyle net rises 86.67% in Dec`07 qtr
NET 4 India Q3 consolidated profit surges 51.3% (Update)

PSL Q3 earnings jump 45.14% on improved sales

PSL, a manufacturer of pipes and undertaker of turnkey projects, announced today a substantial rise of 45.14% in earnings in the quarter ended Dec. 31, 2007, to Rs 301.90 million compared with Rs 208 million in the same quarter, previous year. The earnings per share (EPS) for the quarter climbed 17.28% to Rs 7.60 compared with Rs 6.48 in previous year period.Strong rise in revenues pushed earnings of the company higher. Net sales for the quarter rose 32.11% to Rs 6,590.50 million, while the total income for the quarter climbed 34.27% to Rs 6,779.10 million, when compared with the corresponding quarter, a year ago

Orient Paper net rises 46.23% in Dec`07 qtr
Orient Paper & Industries disclosed a phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 46.23% rise in profit to Rs 534.48 million from Rs 365.51 million in the quarter ended December 2006.Net sales for the quarter rose 17.06% to Rs 3,208.53 million compared with Rs 2,740.92 million in the corresponding quarter, a year ago. Total income rose 16.93% to Rs 3,223.08 million for the quarter-ended December 2007 from Rs 2,756.38 million for the same period, last year.The basic and diluted EPS, after extraordinary items, increased 27.57% to Rs 30.91 for the quarter ended December 2007 from Rs 24.23 for the same quarter, last year.

Modern India net declines 29.53% in Dec`07 qtr
Gremach Infra net rises 2.25 times in Dec`07 qtr

SE Investments net up 16.9% for Dec`07 qtr
JK Lakshmi Cement net rises 10.97% in Dec`07 qtr

Apollo Tyres net up 77.27% for Dec`07 qtr
Supreme Petrochem Q2 profit climb 45% (update)
Kriti Industries net rises 5.72 times in Dec`07 qtr

---------------------------------------------------------------------

PTL Enterprises Q3 net profit up 1080%
Apollo Tyres Q3 net profit up 77%
JK Lakshmi Cement Q3 net profit up 11%
RDB Industries Q3 net profit up 27%; other income up 300%
Vakrangee Q3 net profit up 107%
------------------------------------------------
Results on 16th Jan

Allahabad Bank 16-Jan-08
Asian Granito I 16-Jan-08
Can Fin Homes 16-Jan-08
Chambal Fert 16-Jan-08
Ganesh Forgings 16-Jan-08
GTC Industries 16-Jan-08
Himadri Chem 16-Jan-08
India Cements 16-Jan-08
Infotech Enter 16-Jan-08
LIC Housing Fin 16-Jan-08
MRPL 16-Jan-08
Petronet LNG 16-Jan-08
Pyramid Saimira 16-Jan-08
Rallis India 16-Jan-08
SBI Home Financ 16-Jan-08
TCS 16-Jan-08
UCAL Fuel 16-Jan-08
Vardhman Text 16-Jan-08
Welspun Guj 16-Jan-08


Results Calendar

Company
Date of Board meeting
Purpose
A T V PROJECTS
16-Jan-2008
Quarterly Results
ALLAHABAD BK
16-Jan-2008
Quarterly Results
ASIAN GRANITO
16-Jan-2008
Quarterly Results
CANFIN HOMES
16-Jan-2008
Quarterly Results
CHAMBAL FERT
16-Jan-2008
Quarterly Results
DALAL ST INVEST
16-Jan-2008
Quarterly Results
FACT ENTERP
16-Jan-2008
Quarterly Results
G T C
16-Jan-2008
Quarterly Results
GANESHFORGIN
16-Jan-2008
Quarterly Results
HIMADRI CHE
16-Jan-2008
Quarterly Results & inter alia, to consider the issue of FCCB.
INDIA CEM CAP
16-Jan-2008
Quarterly Results
INDIA CEMENT
16-Jan-2008
Quarterly Results
INDIA NIVEH
16-Jan-2008
Quarterly Results & Interim Dividend
INDO BORAX
16-Jan-2008
Quarterly Results
INFOTECH ENT
16-Jan-2008
Quarterly Results
INNOCORP L
16-Jan-2008
Quarterly Results
KSL REALTY
16-Jan-2008
Quarterly Results
L I C HOUSING FIN
16-Jan-2008
Quarterly Results
LUMINAIRE TECH
16-Jan-2008
Quarterly Results & To convey Extraordinary General Meeting for the purpose of approval of issue of shares on Rights Basis & Right Issue of Equity Shares
MRPL
16-Jan-2008
Quarterly Results
NEELAMALAI AGRO
16-Jan-2008
Quarterly Results
PETRONET LNG
16-Jan-2008
Quarterly Results
PRIME PROPERTY
16-Jan-2008
Quarterly Results
RAJAPAMILLS
16-Jan-2008
Quarterly Results & Interim Dividend
RALLIS INDIA
16-Jan-2008
Quarterly Results
S B I HOME FIN
16-Jan-2008
Quarterly Results
SHRILAKSHMI
16-Jan-2008
Quarterly Results
STATE BNK MY
16-Jan-2008
Quarterly Results
SYLPH TECH
16-Jan-2008
Quarterly Results
TCFC FINANCE
16-Jan-2008
Quarterly Results
TCS
16-Jan-2008
Quarterly Results & Interim Dividend Third Interim Dividend
UCAL FUEL
16-Jan-2008
Quarterly Results
VARDH TEXT
16-Jan-2008
Quarterly Results
VYBRA AUTO.
16-Jan-2008
Quarterly Results
WELSP GUJ SR
16-Jan-2008
Quarterly Results
WIPRO
16-Jan-2008
Quarterly Results
YENKEY DRU P
16-Jan-2008
Quarterly Results
ZUARI INDU
16-Jan-2008
Quarterly Results

Zuari Inds 16-Jan-08
---------------------------------------------------------------
Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sensex nosedives 477 pts as blue chips tumble at close

Sensex nosedives 477 pts as blue chips tumble at close


NSE
6074.25 -132.55
BSE
20251.09 -476.96


After opening with a positive gap and edging up a bit in early trade, the Sensex plunged into the red this morning. And it never made it to the positive territory again as the bulls went shopping at the Reliance IPO counters today. The mega offer from Reliance Power got fully subscribed within minutes and, as the demand grew multifold, it got subscribed nearly 10 times.
As a result, prices of front line stocks went into a tailspin this afternoon. Though the market managed a couple of mild rallies, a very strong bout of selling pressure blew the wind out of several blue chip stocks cutting across sectors and pushed the benchmark indices Sensex and Nifty deep down into the red. Asian markets, which opened on a positive note, gave up their gains and ended weak. European stocks also exhibited weakness. But, the rush for Reliance Power IPO was the significant contributor for the sharp fall in values on the Indian bourses today.
While the Sensex, which crashed to a low of 20,203.63 in the closing minutes, ended the session with a massive loss of 476.96 points or 2.3% at 20,251.09, the Nifty settled at 6074.25, around 21 points off its low of 6053.30, with a 2.14% (132.55) points loss.
Mirroring all-round selling, all the sectoral indices ended in red today. The Bankex, FMCG, Power, PSU and Teck indices went down by 2.1% - 2.6%. The IT, Capital Goods and Oil & Gas indices lost nearly 2% while the Realty and Metal indices closed lower by 1.65% and 1.3% respectively. The Auto and Healthcare indices eased by around 0.75% while the Consumer Durables index, which suffered the least damage, ended lower by 0.39%.
There were just three gainers in the Sensex today. Tata Steel (1.55%) and Maruti Suzuki (1.45%) ended with strong gains while Tata Motors closed with a gain of a little over half a per cent.
Among Nifty stocks, VSNL (1.1%), Tata Power (1.1%), Zee Entertainment (0.8%), Dr. Reddy's Laboratories (0.7%) and Hero Honda (0.25%) closed on a positive note. HDFC Bank, which ended with a marginal loss on BSE, closed with a small gain on the National Stock Exchange.
Bharti Airtel had another weak outing. The telecom stock, which remained deep down in the red right through the session today, closed with a sharp loss of 5.5%. Reliance Energy lost 4.4%. ICICI Bank eased by over 4%.
NTPC, ITC, Reliance Communications, Satyam Computer Services, Mahindra & Mahindra, Larsen & Toubro, HDFC, DLF, Ranbaxy Laboratories, BHEL, Tata Consultancy Services and Hindalco lost 2% - 4% today.
State Bank of India (down 1.95%), Infosys Technologies (down 1.85%), Reliance Industries (down 1.65%), Hindustan Unilever (down 1.5%) and ONGC (down 1%) also ended with sharp losses.
ACC, Bajaj Auto, Wipro and Cipla closed with marginal losses while Ambuja Cements and Grasim Industries eased by 0.8% and 0.9% respectively.
BPCL, Suzlon Energy, GlaxoSmithKline Pharma, Sterlite Industries, GAIL India, Nalco, SAIL, Reliance Petroleum, HCL Technologies, Siemens, ABB and Unitech declined sharply today.
Parsvnath Developers, Apollo Tyres, Tata Tea, Omaxe, Shipping Corporation of India, HCL Infosys, Exide Industries, Axis Bank, Bombay Dyeing, Engineers India, Sun TV Network, Raymond, Aurobindo Pharma, Sterlite Technologies and Power Finance Corporation ended with sharp losses.
Finolex Industries shot up by over 9%. Adani Enterprises, Mirc Electronics, Welspun Gujarat, Crompton Greaves, Lanco Infratech, Allahabad Bank, LIC Housing Finance, Indo Rama Synthetics, Bharat Earth Movers, Orchid Chemicals, Bank of India, Escorts, Aventis Pharma, Jet Airways and Idea Cellular moved on to higher levels today.
After exhibiting strength till a little past noon, mid and smallcap stocks wilted under pressure in afternoon trade and surrendered their gains. The Midcap index fell 1.1% today while the Smallcap barometer eased by 0.83%.
The market breadth turned quite weak this afternoon. When traded ended today, out of a total of 2888 stocks that were seen in action on BSE, only 992 stocks were up in the positive territory. As many as 1865 stocks ended with losses and 31 stocks finished at their previous closing levels.

Sify stories

Reliance Power IPO oversubscribed within 50 seconds Reliance Power IPO reflects confidence of global investors

• DCW to raise up to Rs 200 cr
• Apollo Tyres sees 15 % growth
• Birla Corp to invest Rs 1,200 cr

Vedanta to set up Rs 24,000 cr steel plant in Orissa
HCL launches laptops at Rs 13,990 onwards
Big offers for IIT Madras management grads


Source: sify.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Deadpresident blog updates

http://deadpresident.blogspot.com


Sensex sheds 99 points
Market Close: Profit booking continues but RIL up..
Stocks Data of 3600 companies on BSE

Post Market Commentary - Jan 14 2008
Market ends lower
J Kumar Infraprojects IPO Analysis

Infosys Technologies - Jan 14 2008
Grey Market - EMAAR MGF, Cords Cable, J Kumar Infraprojects
News Snippets - Jan 14 2008


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.

ET, Myiris.com Stories

Economic Times

Indian funds dominate world's top 100 list in 2007
ICICI Bank aims to be among world's top 10 within 5 years
Jaiprakash Associates Ltd lowest bidder for Ganga Expressway


Oil storages as insurance in India
PM eyes more trade with China
Economy to grow 9.1% in '08-'09: CMIE
China help to India's trade deficit
Cords Cable IPO opens Jan 21

Stocks to pick this week
Govt considering IPO for BSNL: Raja
Promoters brings in Rs 1,440 cr in Reliance Power IPO
Khoday India to acquire US firm
Clear Investments , PFC to float $1 bn PE fund

JM Financial ups stake in XL Telecom
Mid-caps back in action as frontliners pause
HAL may fly into stock market

Era Constructions India Q3 net profit up 39%
HB Stockholdings Q3 net profit at Rs 30.06 cr
Welcast Steels Q3 net sales up 16%
Jhunjhunwala Vanaspati Q3 net profit up 59%
Second rung shares back in action; BSE Smallcap Index up 1.5%
Prime Securities Q3 net profit up 324%
Exide Oct-Dec net profit up 58% on year
SBI rights issue at Rs 1,590/share; ratio 1:5
State Bank of Bikaner & Jaipur Q3 net profit up 19%
Porwal Auto closes at Rs 79.65


Porwal Auto Components lists at 6% premium
First Custodian Fund India Q3 net profit up 55.23%
Jay Bharat Maruti Q3 net profit up 27%
Apollo Sindhoori Q3 net profit up 214.14%
Malar Hospitals' Q3 net profit at Rs 57.40 lakh
Pioneer Distilleries Q3 net profit up 255%
Vikas WSP Q3 net profit up 66%
CMC Q3 net profit falls 3%
Ansal Housing gets shareholders nod for raising Rs 72 cr
Reliance Industries shares up 3% on coal liquefaction project
Monnet Ispat Q3 net profit falls 22% on year
Cords Cable IPO opens Jan 21; priced Rs 125-135/share


ET Features
Investor's Guide
It's a material world
Stocks to pick: Reliance capital,Axis Bank, Moser Baer, Shree Cement
Future Capital Holdings raising funds to expand retail financial services business
Aries Agro's blooming glory
Hotel Leela Venture is rolling out the red carpet
ICICI comes to Sensexbs rescue
Precision Pipes on the fast track

Reliance Power IPO good bet for investors
Restricted Zone
Wait for Q3 results for decision on Manaksia stocks
For IT, numbers say it all
Assam Company all set to turn over a new leaf
Patience is the key for traders

---------------------------------------------
Myiris.com

ONGC, Hindujas to invest USD 10 bn in Iran
Infy, Cognizant in fray for mega outsourcing deal from Wal-Mart
House of Pearl to buy 75% stake in HK-based co.
Emkay puts `ACCUMULATE` rating on Infosys Technologies
Power Grid & IL&FS forms JV to undertake transmission works
Puravankara to launch over Rs 12 bn project in Chennai


Source: Myiris.com, Economic Times. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Earnings : IDFC, Era, Geojit, Exide, Prime Sec, Texmaco, Monnet ispat, Vikas WSP, CMC etc

IDFC's consolidated net grows 73.8 pc in Q3

Infrastructure Development Finance Company Ltd on Monday said the group's consolidated net profit grew 73.83 per cent to Rs 217.28 crore for the third quarter ended December 31, 2007 as compared to Rs 124.99 crore for the corresponding period last year. Total income of the group jumped 90.57 per cent to Rs 766.70 crore for the quarter ended December 31, 2007 as against Rs 402.30 crore for the same period previous year. The company reported a 72.53 per cent rise in net profit to Rs 198.67 crore for the quarter ended December 31 as compared to Rs 115.15 crore for the same period a year ago. Total income of the company rose 79.13 per cent to Rs 691.92 crore for the quarter ended December 31 as against Rs 386.26 crore for the same period last year. The company focuses on four key sectors: transport, energy, telecommunication and information technology, and industrial and commercial infrastructure. Its four main products include Project finance, equity finance, structured products and advisory / investment banking services. The scrip of the company, in which the government holds 20 per cent stake, jumped 3.78 per cent to Rs 222.50 as over 13.50 lakh shares changed hands on the BSE.

Omnitech Info Oct-Dec net at Rs 7.68 crore
-------------------------------------------------------
Indiaearnings.com

Era Construction Q3 PAT up 39% at Rs 19.9 cr
14th-Jan-2008
Era Construction has declared its Q3FY08 numbers. It has posted a growth of 39% in its profit after tax of Rs 19.9 crore on the revenues of Rs 340 crore, which increased by 63% YoY.

Geojit Q3 net profit up at Rs 22.2 cr
14th-Jan-2008
Geojit Financials in Q3 FY08 has reported net profit of Rs 22.2 Cr vs RS 6.7 cr, YoY basis. During the same period its income stood at Rs 78.7 cr vs Rs 34.9 cr, YoY basis.


Prime Securities Q3 net profit at Rs 27.8 cr
14th-Jan-2008
Prime Securities has announced its third quarter numbers. It has posted net profit of Rs 27.8 crore for the quarter ended December 2007 as against Rs 7.05 crore in same period of last year on the revenues of Rs 43.9 crore versus Rs 10.7 crore.


Exide Q3 net profit up at Rs 55.16 cr
14th-Jan-2008
Exide Industries in Q3 FY08 has reported standalone net profit of Rs 55.16 cr vs Rs 34.85 cr on YoY basis. During the same period, its net sales was at Rs 721.92 cr vs Rs 457.70 cr YoY.


CMC Q3 net profit at Rs 21.9 cr
14th-Jan-2008
CMC has announced its Q3 FY08 result. The company in Q3 FY08 reported consolidated net profit of Rs 21.91 cr vs Rs 23 cr on QoQ basis. During the same period, its net sales were at Rs 294 cr vs Rs 270 cr QoQ


Texmaco Q3 net profit at Rs 14.60 cr
14th-Jan-2008
Texmaco has declared its third quarter numbers. It has posted net profit of Rs 14.60 crore for the quarter ended December 2007 as against Rs 7 crore in same quarter of last year.


Monnet Ispat Q3 net profit up at Rs 33.6 cr
14th-Jan-2008
Monnet Ispat has declared its Q3 results. Its Q3 net profit was up at Rs 33.6 crore. Its net sales were up at Rs 288 crore.

---------------------------------------------------------
Myiris.com

State Bank Of Travancore net rises 68.27% in Dec` 07
Geometric Software Q3 consolidated net slips 35.50%
Exide Ind net up 58.28% for Dec`07 qtr

IDFC consolidated net rises 73.83% in Dec` 07
Monnet Ispat Q3 net falls 22% on lower margins
Texmaco net doubles in Dec`07 qtr
Vikas WSP net up 65.70% for Dec`07 qtr
Era Infra net rises 38.90% in Dec`07 qtr

Pioneer Distilleries net jumps 3.55 times for Dec`07 qtr
CMC consolidated net rises 7.37% in Dec`07 qtr

-----------------------------------------------------------




Results Today
IDFC, Exide Industrie, Triveni Engg, State B Bikaner, State Bnk Tr, Monnet Ispat, Texmaco, CMC, KLG Systel more...


Results Calender

Ahmednagar Forg 15-Jan-08

Amtek India 15-Jan-08

ANG Auto 15-Jan-08

Apollo Tyres 15-Jan-08

DCW 15-Jan-08

Indian Card 15-Jan-08

JK LakshmiCemen 15-Jan-08

Jubilant Org 15-Jan-08

Morepen Lab 15-Jan-08

Orient Ceramics 15-Jan-08

Orient Paper 15-Jan-08

Premier 15-Jan-08

PSL 15-Jan-08

PTL Enterprises 15-Jan-08

Reliance Petro 15-Jan-08

Sutlej Textiles 15-Jan-08

TRF 15-Jan-08

Vakrangee 15-Jan-08
------------------------------------------------


Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Rediff, Moneycontrol stories

Rediff.com

It's not Tata, it's the govt, stupid!Developed nations subsidise, prioritise public transport. In India there are no such policies.
• Here's how to retire a crorepati?
• How tax goes up for NRIs above 65
• Jet may fly to SF via Shanghai
• SBI plans Rs 16,000cr rights issue
• Saloni Malhotra, a rising force
• BSNL valued at $100 bn, IPO soon
• Govt may hike fuel prices on Jan 17
• Ford eyes platforms for small car• Cheaper airfares are back, for now
• US-India salary gap dips 21%
• How brokers woo IPO investors
• How many bank a/cs do we need?
• 'People need food before cars'
• Key to investing in equities• Own Infy, DLF, TCS? Here's some advice
--------------------------------------------------------------------
Moneycontrol.com

Mkt ends weak: Midcaps, energy up; IT down
Stocks that lost over 30% from their highs
Sensex to hit 25,500 by H2CY08: ICICI Sec
Porwal Auto sees FY09 PAT at Rs 13 cr
SBI board okays 1:5 rights issue at Rs 1,590/sh

Future Capital IPO oversubscribed 8.7 times on day 2
Sebi clears Emaar-MGF IPO; price band Rs 725-850
Exide net surges 59%, top line grows to Rs 910cr
Aban Offshore Q3 net profit up at Rs 47.7 cr
Brokerages bullish on Dewan Hsg, Finolex, Sintex
Era Infra Engg registers 38.89% increase in net profit



Source: above sites. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

ICICI among world’s top 10 banks? Soon

ICICI among world’s top 10 banks? Soon

ICICI Bank, the country's biggest private lender, expects overseas business to account for at least one-fourth of its balance sheet in 2008 and is targeting a place among the world's top ten banks within five years.
"If there ever be an Ivy League of global banks, I believe, in 5-10 years, we have to have a few banks from China and a few from India in that league," ICICI Bank [Get Quote] managing director and chief executive officer K V Kamath told PTI in an interview.
"The target is that we will try to do it in less than five years. China has done it and their three banks are in the top ten. Three years ago, none of us would have given them any change of getting there," he said.
While attributing the current position of Chinese banks to the economic uptrend that started there ten years ago, he said, "Within six years, as an Indian bank [Get Quote], we should also enjoy similar change in attributes."
Kamath said he did not see slackening of India growth story for another 15 years and if the GDP grows at 10-11 per cent, banks and financial services sector should grow at a three-times multiple or about 30 per cent every year.
"If you look at that possibility you are really looking at doubling your size every three years. Then in six years, it should be a size where most Chinese banks are today -- in the top 10," said the head of India's most valued bank.
ICICI Bank's joint MD and chief financial officer Chanda Kochhar said the bank was already India's biggest in terms of overseas business and was looking at a contribution of at least 25 per cent from its international business in 2008.
Currently, global assets account for 22-23 per cent of its balance sheet, Kamath said.
Talking about the bank's international expansion plans, Kochhar said after getting a license in the US, it was not looking at merely foraying into other countries. "In each of the 18 countries we are present, we have a lot of deepening and widening to do. This can happen in many ways. For some it can be expanding the role of the branches," she said.
"Our overseas growth would be driven around three platforms - Indian retail customers, Indian corporate customers and our niche cost-competitive areas. As we get into the next year, our international side of balance sheet would be about 25 per cent of the total."
With more than $19 billion of overseas assets, ICICI Bank is the largest international bank in India, she said. ICICI Bank played a role in 88 per cent of total number of outbound merger and acquisition deals by Indian companies during 2007, while in terms of value of these deals, the share was 65 per cent, she said. The involvement was largest in terms of value and second-largest in terms of volume.
Indian companies would invest up to $700 billion over the next few years. While a major part of it would come from their own internal accruals equity issue, a large portion would be through borrowings in local and foreign markets.
"We saw this as a coming opportunity two years ago and we calibrated our skills to be able to take large market share in this business. We have strengthened our investment banking capability and also international capability, so that we can not only give them loans but also syndicate a large part of loans for Indian corporates," Kochhar said.
ICICI Bank currently ranks as a leading arranger of foreign currency loans for India Inc. This was an area dominated by foreign banks till some time ago, Kochhar noted. She said in India also ICICI Bank was looking to have a role in 25 per cent of the investment pipeline worth about $500 billion likely to come from the corporates in the next three-four years.
"Our current balance sheet is over $100 billion and we are talking of a little over doubling the balance sheet in the next three-four years," she said.
Kamath said 100 per cent growth was not the way to go for banking business, but even at 30 per cent growth the size would double every three years. There were also inorganic opportunities, he added.
When asked which other banks from India he expected in the global top ten, Kamath hinted at the country's biggest lender, the State Bank of India [Get Quote]. "At least one large government bank is clearly capable of entering into that league," he said.
"In China also, it is the government banks that have got into that league. I think any other bank will take time because I do not see the scaling-up that is required being done as yet elsewhere," he noted.
"Ten years down the lane, an Indian bank would have to be there. Our endeavour is to see how much quicker we would achieve that. . . One thing is sure that an Indian bank would reach that Ivy League," Kamath said.


Source: www.rediff.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Indian MFs dominate world's top 100 list

Indian MFs dominate world's top 100 list


Mumbai: Indian equity funds stormed into the Lipper list of the world's 100 top-performing stock funds of 2007, with 40 funds making a mark compared with none a year ago, as Indian shares turned in their best performance in four years.

A power sector fund from the country's largest asset manager Reliance Capital led the Indian top performers in 2007.

The top-100 list, carved out from a set of 24,887 funds tracked by global fund intelligence firm Lipper also includes five India-dedicated offshore funds.

Over the 10-year period ended December 2007, local funds are clear winners with seven of the world's top 10 funds from India.

"Indian funds had a revelling year, with the broader markets faring well and the mid- and small-cap segments outperforming their bluechip peers by a significant margin in 2007," Dhruva Raj Chatterji, research analyst with Lipper in India, said.

Country’s main stock index rose 47 per cent last year, clocking six straight years of gain, as foreign funds, attracted by strong economic growth and corporate performance, poured more than $17 billion in local shares, the highest in a single year.

The BSE Mid Cap and Small Cap indices grew faster, gaining 69 per cent and 94 per cent respectively, powering returns of funds which invested 40-48 per cent of their assets in such stocks, data from fund tracker ICRA Online Ltd showed.

Nearly three-fourths of the funds secured a place in the top 1,000, while majority of India-based funds tracking auto, pharmaceutical and battered tech stocks were pushed to the bottom with Franklin India Infotech getting the worst rank of 22,790.

Twenty-nine Chinese funds, which saw their main stock index rise 97 per cent last year, secured a place in the world's top-100 funds.

"This is just the beginning...We are not at all surprised by the performance of Indian funds as they are based on the strong foundation of our Indian economy," Vineet K Vohra, chief executive officer of ING Investment Management (India), said.

"It clearly shows India's strong story as an investment destination for an enormous opportunity," he added.

Globally, equity funds that have a track record of at least one year and are covered by Lipper, showed an average return of 2.52 per cent, but the 306 Indian funds among them delivered an average 55.64 per cent gain, Lipper data showed.

Dhruva said more than three-fourth of the Indian equity funds managed better returns than India's benchmark index in 2007 but those investing more in sectors such as steel, capital goods, realty and financial services stood out.

India's actively managed diversified equity funds returned 55.97 per cent in 2007, on an average, their best in four years.


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Sensex ends 99 pts down; Oil, power

Sensex ends 99 pts down; Oil, power
Sensex ends down nearly 100pts, RIL

NSE
6206.80 6.70
BSE
20728.05 -99.40

After a fairly positive start, the benchmark indices Sensex and Nifty slipped into the red in a flash as several blue chip stocks, led by information technology majors, wilted under a strong bout of selling pressure.
Though the Nifty spent a better part of the next four hours in the positive territory thanks to a firm trend displayed by some of its components, the Sensex remained quite choppy and kept moving in and out of the positive territory with participants choosing every small rise as an opportunity to lighten commitments.
Though both the premier indices plunged sharply into the red with an hour to go for the closing bell, the Nifty managed to bounce back thanks to some hectic buying in some of its non-Sensex components.
While the Nifty ended the day at 6206.80 with a marginal gain of 6.70 points, the Sensex settled at 20,728.05, down 99.40 points or 0.48% from its previous closing mark. In intra-day trades today, the Sensex, which had opened with a positive gap at 20,918.23 and spurted to 20,985.62 in early trade, hit a low of 20,661.90. The Nifty touched a high of 6244.15 and a low of 6172 today.
Oil, power, realty, bank and PSU stocks were in demand today. Information technology stocks traded weak and mirroring the sharp losses posted by key stocks in that space, the BSE IT slipped by as much as 2.85% from its previous closing mark. Buying remained selective in FMCG, auto, capital goods, metal and pharma sectors.
Mid and smallcap stocks, which had taken a hammering last week, bounced back into the reckoning today. Reflecting investor interest for these stocks, the BSE Midcap and Smallcap indices moved up by 1.04% and 1.33% respectively.
Power stock NTPC, which remained quite subdued for a better part of the session, rallied smartly during the closing minutes and ended with a handsome gain of 4.65%. Heavyweight stock Reliance Industries (up 2.85%) ruled firm right through the session.
BHEL moved up by 1.6%. Reliance Communications, HDFC Bank, State Bank fo India, Ranbaxy Laboratories, ITC and DLF also closed with sharp gains. Tata Motors and Cipla gained marginal ground.
Bharti Airtel, which eased by a little over 6% to Rs 907.30, was the biggest loser in the Sensex. Wipro ended lower by 5%. Maruti Suzuki lost 4.85%. Infosys Technologies finished with a loss of 3.15%.
Tata Consultancy Services, Satyam Computer Services, HDFC, Mahindra & Mahindra, ACC, Bajaj Auto, ICICI Bank and Hindustan Unilever lost between 2% - 3%. Grasim Industries, Tata Steel, ONGC, Ambuja Cements and Reliance Energy also closed with sharp losses. Larsen & Toubro and Hindalco ended with small losses.
BPCL (7.5%), Hero Honda (6.6%), Tata Power (5.1%), Idea Cellular (4.4%) and Reliance Petroleum (2.35%) served Nifty's cause today.
Punjab National Bank, GlaxoSmithKline Pharma, Unitech and Cairn India were the other prominent gainers from the Nifty fold. GAIL India, Suzlon Energy and Zee Entertainment chipped in with modest gains.
Sun Pharmaceuticals, Nalco, HCL Technologies, Dr. Reddy's Laboratories, Siemens and SAIL ended with sharp losses.
Apollo Tyres, Shipping Corporation of India, Hinduja Ventures, Axis Bank, Indian Bank, Exide Industries (Indian Bank and Exide Industries rose smartly on buoyant quarterly numbers), BPCL, Jindal Steel, Welspun Gujarat, Gujarat Narmada, Alok Industries, Gujarat Industries & Power, Arvind Mills, BASF India, Neyveli Lignite Corporation, Bank of Baroda and Indian Hotels posted impressive gains.
Reliance Natural Resources gained 7.2% on strong volumes. Jaiprakash Associates moved up by 5.55% on sustained buying on the back of a good show by the company in the October-December 2007 quarter.
The market breadth was marginally positive today. Out of 2881 stocks traded on BSE, 1576 stocks closed with gains. 1283 stocks finished in the negative territory and 22 stocks ended at their previous closing levels.

Sify.com stories

Ansal Housing to raise Rs 72 cr
Om Metals gets Rs 600 cr project
Khoday India to acquire US firm
Tata's small car attracts really big numbers

'Stock exchange must pay if brokers default'
Rel Power IPO set to create record
Indian Bank sees Rs 650 cr FYO8 bad loan recovery
Indian funds dominate world's top 100 list in 2007
Why does a company go for an IPO?

BSNL IPO in a year's time; will raise $10 b
Exide Ind Q3 net up 58.25% at Rs 55.15 cr
Omnitech Info Oct-Dec net at Rs 7.68 cr
Jaiprakash Associates Ltd lowest bidder for Ganga Expressway
Stock investors: Go away in Feb, come back in May



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ET Top Business Stories

http://economictimes.indiatimes.com/


Reliance Power IPO raises buzz in stock market circuit
Future Capital IPO subscribed 2.38 times
34 IPOs to hit market in H1 to raise $14,171 mn
-----------------------------------------------------

Recession fears hit crude prices
Copper volatile as investors hedge
Alternate investments turn attractive
SEBI readies REIT for investors
Maharaja to launch IPO in 2009

Tata Nano a hit with middle class at pre-launch
DLF, Hilton plan first branded residential hotel in Goa
'RBI willing, interest rates will fall by up to 0.5%'
Private insurers outrun LIC agents
IIM-A gears up for laterals next week

Options available for investors in MFs
Technical speak on Nifty
Stocks you can buy

Heard on the street
Century's high on Worli property buzz It was just the fillip that Century Textiles' shareholders were waiting for. The scrip, after falling 7% this week and rising only about 5% in the course of the past month — at a time when the Sensex is scaling new highs everyday, — was in action on Friday on the buzz that the company has procured all permissions required for the development of its Worli property and will start work on it soon. The share rose around 4% on Friday to Rs 1,196. In the past year, Century has more than doubled its share price from Rs 450. Sources say that the labour commissioner has already forwarded its final approval note to labour minister at Sachivalaya, which means that all permissions needed for its land development plans have been obtained.

For broking houses, everything is a ‘buy’ ‘Never Say Die’ appears to be the mantra of brokerages, which have raised their price targets in mid- and small-cap space in the face of weakness across this segment. To name a few, Rajesh Exports has a new target of Rs 1,562, while current market price (CMP) is Rs 882. Similarly, Prakash Industries, whose CMP is Rs 329, has a steep target of Rs 520. Sintex has a price target of Rs 1,030 with a CMP of Rs 560. While Shri Lakshmi Cotsyn, which has a CMP of Rs 165, has a target of Rs 240. Some of the large-caps have also not been kept out of this.

The most interesting among the lot is CLSA which has given a price target of about Rs 3,400, but at the same time, come out with a Blue-Sky estimate for Reliance at Rs 5,300, terming it as a target in a bull-case scenario. The current market price stands at Rs 3,128. Surprisingly, there are very few ‘sell’ reports to come by in the market.

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Source: www.theeconomictimes.com . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Deadpresident Blog Updates

http://deadpresident.blogspot.com


India Top Picks - Jan 2008
Weekly Watch
Reliance Power IPO

Air India IPO in second half of 2008
Weekly Positional Calls
Future Capital Holdings IPO Analysis

Grey Market - Reliance Power, Future Capital, J Kumar Infra Projects
Axis Bank, Prism Cement, BOI, South Indian Bank
ITC Ltd

Axis Bank, Bharati Shipyard, Infosys, Motilal Oswal, Nitin Fire, Indian Hotels
Stocks you can buy this week
India tops Asia PE sweepstake in 2007

Weekly News - DoT issues LoIs to 9 players
Tata Motors, Infosys
Reliance Power IPO Analysis

Q3 results to dictate trend
Mid-Cap, Small-Cap indices slump
Heavyweights lift Sensex 245 points

Post Market Commentary - Jan 11 2008
RCL, Essar Oil, ICICI Bank January 2008 futures at premium
Aries Agro surprises everyone

----------------------------------------------
Source: Above blog. 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.

Weekly Gainers: Rediff.com

http://money.rediff.com/money/jsp/weekly_gainer.jsp



Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
HDIL
A
1,139.80
1,321.70
+ 15.96
+
ICICI Bank
A
1,285.35
1,439.90
+ 12.02
+
Axis Bank Ltd.
A
1,056.45
1,167.45
+ 10.51
+
Bank of India
A
380.20
412.75
+ 8.56
+
DLF Ltd.
A
1,112.50
1,196.05
+ 7.51
+
Aditya Birla Nuvo
A
2,224.40
2,379.45
+ 6.97
+
Britannia Ind.
A
1,518.60
1,601.95
+ 5.49
+
Reliance Inds.
A
2,985.85
3,128.15
+ 4.77
+
Suzlon Energy Ltd.
A
2,031.70
2,124.95
+ 4.59
+
RelianceCommu.Ltd
A
760.05
793.50
+ 4.40
+
United Phosphorus
A
382.40
398.00
+ 4.08

--------------------------------------------

Company
Group
Prev Close (Rs)
Current Price (Rs)
% Change
+
Bannari Amman Su
B1
887.05
1,080.00
+ 21.75
+
Sakthi Sugars
B1
92.45
110.90
+ 19.96
+
EID Parry
B1
173.90
200.20
+ 15.12
+
Mahindra Forgings Lt
B1
264.05
299.85
+ 13.56
+
Sujana Towers Ltd.
B1
192.00
211.60
+ 10.21
+
Jai Corp Ltd.
B1
1,139.40
1,252.90
+ 9.96
+
Bajaj Hindustan
B1
305.50
335.15
+ 9.71
+
Richa Knits
B1
45.05
49.25
+ 9.32
+
Geodesic Infor.Syst.
B1
205.20
222.65
+ 8.50
+
REI Agro Ltd.
B1
895.60
969.60
+ 8.26
+
Provogue (India)
B1
1,275.00
1,379.80
+ 8.22
+
Malu Paper Mills
B1
55.15
59.60
+ 8.07
---------------------------------------
Source: www.rediff.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: Indian Bank, JP Associates, Sintex, Aban etc

Indian Bank Q3 net up 61% at Rs 307.5 cr
12 Jan, 2008, 1707 hrs IST

Indian Bank today registered 61.44 per cent rise in its net profit of Rs 307.5 crore for the third quarter ended December 31, compared to Rs 190.47 crore for the corresponding period last year. Total income increased 36.31 per cent to Rs 1676 crore for the quarter ended December 31, against Rs 1229.54 crore for the same period last year, the public sector bank said in a filing to the Bombay Stock Exchange. The bank's business is divided into four main areas: retail, agriculture, corporate and commercial financial services, and small and medium-sized enterprises. Shares of the bank dropped 3.22 per cent to Rs 199.95 at the close of Friday's trading on the BSE.

Indian Bank Q3 net jumps 61.44%
----------------------------------------------------------
Geojit’s net rises 4-fold as client base widens
Mumbai, Jan 12
The net profit of Kochi-based Geojit Financial Services Ltd increased more than four times for the third quarter, with profits jumping from Rs 4.6 crore to Rs 18.9 crore. Higher revenue from increased client base and the ... More
----------------------------------------------------------
Jaiprakash Associates net rises 53% in Dec`07 qtr


Jaiprakash Associates announced a 52.94% rise in net profit at Rs 1560 million for the quarter ended December 2007 as compared to Rs 1020 million for the quarter ended December 2006.
Total Income increased 7.63% to Rs 10,020 million for the quarter ended December 2007 from Rs 9,310 million for the quarter ended December 2006. Jaiprakash Associates earlier known as Jaiprakash Industries (JIL) merged with Jaypee Cement (JCL) and got its current name.
Jaiprakash is an acknowledged leader in the construction of river valley and hydro power projects on turnkey basis and has been in business for more than three decades. It is the flagship company of the Jaypee group, which is a well diversified infrastructural industrial group of India with a turnover of over Rs 30,000 million (USD 650 million) that commenced its operations in 1972 as a partnership firm, then known as Jaiprakash Associates. Three decades later, the group has diversified itself into many sectors. The company executed simultaneously 13 hydro power projects spread over 6 states and the neighboring country of Bhutan for the generation of 10,290 MW of power. It has set up a 300 MW power station in Baspa, Himachal Pradesh, which is already in operation producing more than 1,200 million units of clean & green energy annually. It has also set up the 400 MW Vishnuprayag power project in Uttaranchal.
The board of directors last month approved raising funds upto USD 400 million by issue of global depository receipts (GDRs), in terms of the shareholders` approval already accorded.
Shares of the company gained Rs 15.45 , or 3.59% to end at Rs 446.4. The total volume of shares traded was 1,624,732 at the BSE.(Friday).

-------------------------------------------------
Aban Offshore Q3 net zooms 2.29 times

Aban Offshore, India`s biggest offshore drilling entity in the private sector, reported today 2.29 times growth in earnings in the quarter ended December 31 to Rs 477.67 million compared with Rs 207.88 million in the prior year period. Substantial rise in revenues helped the company to post excellent earnings numbers. The company posted earnings per share (EPS) of Rs 12.64 in the quarter ended December 2007.

--------------------------------------------------
Sintex Q3 earnings surge 2.17 times

Leading manufacturer of different plastic moulding and forming products, Sintex Industries announced today a 2.17 times rise in earnings in the quarter ended December 31 to Rs 553.77 million compared with Rs 254.63 million in the prior year period. Substantial rise in revenues couple with improvement in operating margin helped the company to post excellent earnings numbers. The company posted earnings per share (EPS) of Rs 4.78 in the quarter ended December 2007.

--------------------------------------------------
Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sify, Myiris, Rediff Stories

www.sify.com


Rights issue mop-up hits new high at Rs 14,000 cr in 2007
Indian Bank Q3 net up 61.45% at Rs 307.50 cr
Elecon Engg gets orders worth Rs 15.7 cr
'Instead of Autos we will buy Nano'
Demat accounts see a surge in Oct-Dec 2007

Big Nano effect: 15m households as prospective car buyers
Rel Power grey prices fall
BoB to enlarge foreign footprint
--------------------------------------------
Rediff.com

Ratan Tata, the ugly duckling
How the Rs 1-lakh car was made
Is your fund house opportunistic?
---------------------------------------------
Myiris.com

Cords Cable Industries IPO to open on Jan 21
Porwal Auto Components to list on bourses on Jan 14
Sun TV arm inks pact with SAMTL for 6.98% stake in SAFL
Centre announces 10-yr IT holiday for industrial park devps
SEBI recommends 3-year index options

Future Group scouting for buys in food and fashion retail space
Kirloskar Pneumatic to start roadrailer manufacturing
NALCO inks deal with Indonesia for smelter project



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Weekly wrap up: Market ends mix

Weekly wrap up: Market ends mix

Indian benchmark index, Sensex gained marginally in the week ended Jan. 11 2008, helped by foreign inflows and some build-up of positions ahead of the results season. Whereas, broad based Nifty shows reverse trend. Except banking and realty, all other sectoral stocks fell during the week. Mid-cap and small-cap shares were corrected sharply.

The 30 share index, Sensex added 140.56 points, or 0.68%, to 20,827.45 in the week ended Jan. 11, 2008, whereas the broad based NSE Nifty fell 74.2 points, or 1.18%, to 6,200.1 in the same period. The mid-cap index lost 6.67%, while the small-cap index plunged 8.57% over the week. Only gainers in sectoral indices were BSE Bankex index gained 4.82% and Realty index gained 1.48%. Major losers include, Metal index declined 7.62%, Consumer durable index lost 8.22%, IT index plunged 4.36%, Auto Index fell 4.83% and Health Care index declined 4.80% over the week. Overseas investors were net buyers in equities worth Rs 6.16 billion in the period of January 7 to 10. As per the provisional figures, overseas investors bought net of Rs 1.07 billion worth equities on January 11. On the other hand, Indian mutual funds were net sellers in equities to the tune Rs 1.12 billion in the period of January 7 to 10.

Major Corporate Developments

Shares climbed after Tata Motors introduced much awaited Rs 1-lakh car named as `NANO` at the Auto Expo in the capital. The car will be launched in India later in 2008.

Infosys Technologies, India`s second largest software exporter, registered a 25.20% growth in consolidated earnings in quarter ended December 07 to Rs 12.31 billion on Y-o-Y basis. In the same period, consolidated revenue grew 16.90% to Rs 42.71 billion on Y-o-Y basis.

Shares of ICICI Bank, the second largest lender in India, touched a record after the company announced plans to list four divisions to select investors. Leading engineering and construction major, Larsen & Toubro announced the company bagged various new projects worth over Rs 35 billion.

Jaiprakash Hydro Power, a part of the Jaypee Group, disclosed a phenomenal jump of 2.78 times in net profits for the quarter ended in December 2007 to Rs 69.40 million from Rs 25 million in the quarter ended December 2006.

Inflation

The whole-sale price index based inflation for the week ended Dec. 29, 2007 remained unaltered from its previous week`s level of 3.50%.

IIP at 5.3%

Growth in India`s industrial production (IIP) plunged to 5.3% in November this fiscal from 15.8% in the same period last year following a huge decline in the manufacturing sector.



Source: 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.