10 October 2007

Result Updates

PFC Q2 net climbs 22.52%

New Delhi-based Power Finance (Q, N,C,F)* Corporation (PFC), a key lender to power companies, registered a growth of 22.52% in earnings for the second quarter ended September 2007, helped by healthy growth of revenues. During the quarter, the company witnessed a rise in profit to Rs 2,822.23 million from Rs 2,303.52 million in the same quarter, last year.

The total income for the quarter rose 37.94% to Rs 12,275.85 million compared with the corresponding quarter, a year ago
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Kerala-based South Indian Bank, a scheduled bank, reported a fall of 14.31% in net profit for the quarter ended September 2007, on substantial fall in operating margin of 238.64 basis points, despite healthy revenue growth rate. During the quarter, the bank saw fall in profit to Rs 356.90 million from Rs 416.50 million in the same quarter, last year.
Bihar Tubes disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 5.93 times rise in profit to Rs 39.9 million from Rs 6.72 million for the quarter ended September 2006. Net sales for the quarter rose 12.50% to Rs 627.4 million compared with Rs 557.66 million in the corresponding quarter, a year ago.
Posting its first financial result after listing on the exchange, Chennai-based Indowind (Q, N,C,F)* Energy posted a net profit of Rs 23.11 million on net sales of Rs 32.47 million in the quarter ended September 2007.
Results Calendar
11 October,2007
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Corporate UpDates

Rediff.Com

BBC to launch DVDs in India
Govt not to relax 5-yr rule for airlines flying abroad
Pitroda, Ispat, B K Modi among telecom licence applicants
Wipro, Infy, TCS come together to boost education
Barclays Bank has exciting plans in India
Alto, M800 become dearer this festive season
Bharti joins Rs 2 tn Mcap club; Mittal 4th trillionaire
Reliance to build India's tallest trade tower
SBI cuts home, retail loan rates


MoneyControl.Com

iGATE to be delisted from Indian stock exchanges
Morgan Stanley gets merchant banking license from Sebi
Maruti to cut discount by Rs 4,000 on select models
L&T bags USD 60mn order in Saudi Arabia
Market makes Ambani brothers world's richest
Sensex's 3-month target at 20K: JM..
Bombay Dyeing plans US foray
Reliance Power, Tatas gear up for Krishnapatnam UMPP
MF body opposes SEBI proposal on no-load fund
ICICI Prudential MF revises load structure
MF NAVs advance higher as markets end at record high


BusinessLine.in

Vinay Cements revises open offer date
Bharti Airtel up on FII limit hike
Shreyas Shipping acquires second-hand container vessel

Business Standard

Sebi tells advisors to reveal earnings
FIIs net buyers of Rs 1,462cr in cash market
Sunil Mittal joins trillionaire club
Airtel launches 8 Mbps broadband web-access
Nokia ties up with Network 18 for live news
Realty firm BPTP plans Rs 2000cr IPO
Gujarat elections on Dec 11, 16




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Posted by Srisai & Ganesh & Jaga & myLu at 10:43 PM 0 comments
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Ambani brothers on way to top global billionaires' club

MUMBAI: Move over Bills Gates, Carlos Slim and LN Mittal, the Ambanis are coming. While you may still be figuring out your gains from the phenomenal 788 points rally on Tuesday, the Ambani brothers are on their way to the top echelons of global billionaires’ club. By the time the market closed on Tuesday, the Ambani brothers were worth nearly $91.41 billion. That is a whopping 8% of what India’s GDP was last year.

Combined, this is greater than the net worth of Carlos Slim, the Mexican billionaire, who was recently crowned as world’s wealthiest individual ahead of Bill Gates. In all, the top-15 business families in India (excluding the Tatas) added close to $11 billion to their net worth all in a day. The combined net worth of the top 15 stands at $213 billion, or close to 20%, of the GDP. What’s more, Mukesh Ambani is now within striking distance of dethroning LN Mittal as the richest Indian. Though the latest figures are not available, LN Mittal is estimated to be worth around $48 billion, only $2 billion more than the current net worth of Mukesh Ambani.

Another 4% appreciation in Reliance Industries stock price and Mukesh Ambani will go past Mr Mittal. The rate at which the Mukesh Ambani-owned companies are going, his net worth rose by $3.25 billion on Tuesday, this might well have happened by the end of the day. Equally astonishing has been the rise of Anil Ambani. The younger Ambani sibling added over $3 billion to his net worth on Tuesday. He is now worth nearly $35 billion and second only to his elder brother.

Further visit, http://economictimes.indiatimes.com/Ambani_brothers_on_way_to_top_echelons_of_global_billionaires_club/articleshow/2444127.cms


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Posted by Srisai & Ganesh & Jaga & myLu at 10:40 PM 0 comments
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Sensex posts a new high past 18,700, ends 378 pts up

Wednesday, 10 October , 2007, 16:25
16:13:35
Nifty 5441.45 114.20 2.14%
Sensex 18658.25 378.01 2.07%

The market saw another bright session as the bulls, after storming the ring right at the stroke of the bell this morning, kept calling the shots till the very end. A few blue chip stocks shed a significant portion of their gains and a few others even slipped into the red, but gains posted by capital goods, information technology, cement, oil and telecom stocks were so strong that the benchmark indices Sensex and the Nifty settled near their new all-time highs.

While the Sensex, which opened with a big positive gap of around 193 points at 18,473.43 and vaulted to a new high of 18,703.67, ended the session at 18,658.25 with a huge gain of 378.01 points or 2.07%, the Nifty settled at 5441.45, a few points down from a new lifetime high of 5454.70, with a gain of 2.14% or 114.20 points.

With fears of a major rift between ruling UPA and the Left parties having subsided to an extent and global markets displaying a steady to firm trend, the mood remained quite upbeat on the bourses today. Expectations of strong second quarter results from India Inc and a host of stock specific stories kept the sentiment buoyant right through the session.

Larsen & Toubro, with reports of more order win pouring in, spurted to a new high of Rs 3450 and settled at Rs 3372 with an impressive gain of 6.6%. Power equipment maker BHEL notched up a handsome gain of 4.2% as it ended at Rs 2330.65.

IT bellwether Infosys Technologies rallied 3.75% to Rs 2124.55 on expectations of strong quarterly results. Satyam Computer Services (2.95%), Wipro (2.85%) and Tata Consultancy Services (2.6%) also closed on a high note today.

Hindalco (3.85%), ACC (3.55%), Reliance Energy (3.4%), Bharti Airtel (3.05%), Cipla (2.75%), Reliance Communications (2.65%), ONGC (2.45%), Mahindra & Mahindra (2.4%), ICICI Bank (2.2%), Ambuja Cements (2.2%), State Bank of India (1.8%), Tata Motors (1.8%), Grasim Industries (1.35%) and Tata Steel (1.35%) also finished with strong gains.
Reliance Industries, which opened on a firm note and hit a new high at 2681.90, eased on profit taking and ended at Rs 2617.35, up by a modest 0.65%. NTPC, HDFC and HDFC Bank ended with very small gains.

Tata Power, which moved up by over 12%, was the biggest gainer among Nifty stocks. Reliance Petroleum shot up by 7.25%. VSNL and Suzlon Energy ended stronger by 6.5% and 5.75% respectively. SAIL, HCL Technologies, GlaxoSmithKline Pharma, Unitech, Siemens and Sterlite Industries finished with smart gains.

Gujarat Minerals hit the 20% upper circuit today. Jaiprakash Associates, Jindal Steel, Sobha Developers, Bank of India, iGate Global Solutions, Arvind Mills, Punjab Lloyd, Indian Bank, Sun TV Network, EIH Limited, Nirma, Indo Rama Synthetics and Century Textiles were among the prominent gainers today.

Midcap stock Adlabs Films flared up by 21.7%. Patel Engineering, United Breweries, Renuka Sugars, Motilal Oswal, Bajaj Hindustan, Infotech Enterprises, Take Solutions, KS Oils, Triveni Engineering, Dalmia Cement (Bharat), NIIT Technologies, EID Parry, Praj Industries, Gitanjali Gems, Info Edge and TV 18 also closed on a high note.


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Posted by Srisai & Ganesh & Jaga & myLu at 10:33 PM 0 comments
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Day's Quote/Corporate Story

Quote of the Day
" If your ship has not yet come in, build a lighthouse."
Personality / Corporate of the Day
Anil Ambani
Anil Ambani (born June 4, 1959) is an Indian businessman. As of March 2007, he has a net-worth of US$ 18.2 billion, making him the 18th richest person in the world. His was the world's fastest-growing multi-billion-dollar fortune in percentage terms as his wealth tripled in 1 year. [2] Ambani is chairman of Reliance Capital, Reliance Communications and Chairman & Managing Director, Reliance Energy, and was formerly Vice Chairman and Managing Director of Reliance Industries Limited. His personal stake in Reliance Communications is 66%.[1]. Reliance group is India's largest business house, founded by Anil's late father Dhirubhai Ambani (1938-2002). His mother is Kokilaben Ambani. He is married to Tina Ambani(Munim) who was a well known Indian Actress in early 80's, and blessed with two sons: Jai Anmol and Jai Anshul.
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Posted by Srisai & Ganesh & Jaga & myLu at 10:27 PM 0 comments
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09 October 2007

Other Stories

Rediff.Com

The Sensex story: From 1K to 18K
Big retail gung-ho on expansion
Infy's Nilekani may move to US


Moneycontrol.Com

Stocks that contributed in this historical day
Cabinet approves relief package for sugar ind: FM
Apr-Sep excise mop-up at Rs 54,700 cr, up 6.5% YoY
NRB Bearings among Forbes list of Asia’s Best under bn
Reliance bags marketing & distribution deal for Apple
Top 5 stocks contributed 60% to 18k rally
Business Today places Shaadi.com amongst top 10 marketers

BusinessLine

S&P forecasts 8.6% GDP growth for 2007-08
Employment outlook for Q4 dips


Business Standard

FIIs net buyers of Rs 1,417cr in cash market

Eicher posts 21% growth in September sales
Govt imposes President's rule in Karnataka
Red Fort Capital to invest $425 mn in real estate
Sensex whizzes past 18K in 789-point rally
Reliance Life on expansion spree


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Posted by Srisai & Ganesh & Jaga & myLu at 10:09 PM 0 comments
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Result Corner

10.October.2007
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Mukesh and Anil Ambani combined become world's richest

NEW DELHI: The Indian stock market boom has made the Ambani brothers arguably the richest in the world if one clubs the fortunes of Mukesh and Anil, which at $ 91.41 billion is far ahead of even the Walton family of Wal-Mart. Sons of legendary industrialist Dhirbuhai Ambani who started his career as a petrol station attendant in Yemen and later founded Reliance Industries, Mukesh and Anil split the business empire between them in June 2005 - then worth. While Mukesh controls shares worth USD 55.81 billion, Anil owns shares worth USD 35.6 billion in their respective groups, and their combined worth stands at just over USD 170 billion. '

The wealth of the two brothers as also their group companies are based on the information available on the Bombay Stock Exchange and the closing price of the group companies on Tuesday. The net worth of the Walton family, which controls nearly 39 per cent in Wal-Mart, is around USD 72 billion based on the market capitalisation of the retailer, which is USD 184.21 billion. In June 2005, when the Reliance empire was split its market valuation stood at a little over Rs 1,10,000 crore which has since shot up to over Rs 6,00,000 crore.

In March, Forbes magazine had ranked Mukesh and Anil Ambani as the 14th and 18th richest persons in the world. Their combined wealth then stood at USD 38.3 billion, just a little over the USD 32 billion wealth of steel baron Lakshmi Mittal (fifth richest). After today's surge in the stock market, which saw the Bombay Stock Exchange benchmark Sensex crossing the 18,000-point milestone with a gain of 789 points, the wealth of the five richest resident Indians too has soared.

The collective wealth of the top five richest Mukesh, Anil, DLF's K P Singh, Bharti Group's Sunil Bharti Mittal and Wipro chief Azim Premji has risen by over USD 28 billion to USD 164.01 billion in less than 20 days. The total market cap of firms listed on the BSE on Tuesday soared to Rs 54,85,247.44 crore, data available with the exchange shows. The market cap stood at about Rs 51,19,729 crore on September 26, when the Sensex hit the 17,000 mark.



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Posted by Srisai & Ganesh & Jaga & myLu at 9:57 PM 0 comments
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Corporate Updates

Economic Times
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Posted by Srisai & Ganesh & Jaga & myLu at 9:35 PM 0 comments
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