Sensex, Nifty end with marginal losses

Nifty 5668.05 -2.35

Sensex 19051.86 -6.81

Save for a few minutes in early trade, the mood of the participants on the major Indian bourses remained cautious with a negative bias today. Weak global markets and the incredible rally staged by equities yesterday triggered a few rounds of profit taking and though the Sensex managed to bounce back after a sharp setback this afternoon, it still finished the session on a negative note today.

Bank, power and realty stocks had a profitable outing. Information technology majors, with the exception of Satyam Computer Services, struggled for support. Auto and oil stocks regained some lost ground thanks to buying in late afternoon trade. FMCG stocks had a weak run. Capital goods and pharma sectors saw stock specific buying.

While the Sensex, which hit a new high of 19,174.45 but crashed to 18,877.75 in intra-day trades, ended the day at 19,051.86 with a small loss of 6.81 points, the Nifty settled at 5668.05 with a loss of 2.35 points. The NSE benchmark hit a new high of 5708.35 before it plunged to 5578.45 in afternoon trade.

Though they turned a bit easy in mid afternoon trade, stocks from midcap and smallcap segments rebounded smartly during the final hour of trade. Reflecting the interest for stocks in these segments, the BSE Midcap and Smallcap indices closed stronger by 0.85% and 0.47% respectively.

ICICI Bank recorded a handsome gain of 5.5% today. Hindalco moved up by 4.55% to Rs 197.45. Reliance Energy extended its winning run and notched up a sharp gain of 3.1%. Maruti Udyog (2.3%), NTPC (2%), Satyam Computer Services (1.6%) and Reliance Communications (1.1%) also ended on a firm note.

Further, Visit: Sensex, Nifty end with marginal losses


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Day's Quote/Corporate Story

Quote of the Day

" It is not how you begin that matters, but how you finish."

Corporate/Personality of the Day

Kalanidhi Maran

Kalanidhi Maran (1963) is the Chairman and Managing Director of Sun Network which owns television channels (including the Tamil-language channel Sun TV), FM radio stations and newspapers in South India. He is the son of deceased leader Murasoli Maran and the grandnephew of DMK president M Karunanidhi. He is the brother of Dayanidhi Maran, India's ex-Minister for Communications and Information Technology. He got into the business at the age of 27 when satellite broadcasting took off in the early 1990[1] and started his career with freelance video magazine Poomalai in Tamil.
He is recipient of the International Young Business Achiever award in 1999 (from the Worldcom group, New York), Kalanidhi Maran was also among the few representatives at the round table with the visiting U.S. President Bill Clinton.[2] He was india's # 20th richest person ranked by Forbes.[3]

Further, Visit: http://en.wikipedia.org/wiki/Kalanidhi_Maran

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Consolidated Construction ends with 57% premium

Consolidated Construction ends with 57% premium


It was a stunning performance from Consolidated Construction on the listing day. The stock surged 61.81% to Rs 825.25 in an intraday trade before closing the day at Rs 791.45, a premium of 55.19% over its offer price of Rs 510. The stock had maintained Rs 750 level through the day. Company’s strong outlook about their FY09 revenues on the back of good order book and phenomenal strength in markets (Sensex hit 19000 mark and also closed above that level) also helped the stock.

R Sarabeswar, chairman and CEO of Consolidated Construction Consortium, said they will execute an order book of Rs 2,070 crore in 15 months. 85% of the orders are covered by escalation clauses. He sees FY09 revenues at Rs 1,700-1,800 crore. About 12% of the orders are seen coming from the government next year.

The stock closed at Rs 791.45, with volumes of 58,28,788 shares on the BSE. It has touched a high/low of Rs 825.25 and Rs 736.20.

On the NSE, it rose 57.06% to end the day at Rs 801, with volumes of 70,58,707 shares. It has hit a high of Rs 889.90 and low of Rs 735. The turnover stood at Rs 546.23 crore.
The company had enterd capital market with a public issue of 37,00,000 equity shares of Rs 10 each at price band of Rs 460-510 per equity share. The issue was subscribed 81.18 times.
The company raised Rs 188.70 crore from the issue at price of Rs 510 per share, a higher end of price band. The company will use this money to finance the acquisition of construction infrastructure, investment in subsidiaries, expenditures towards skill and management development centre, repayment of loans and expenditure for general corporate purposes.



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Corporate Stories from Leading sources

Economic Times

Bulls drive Sensex past 19000

Sensex journey from 7000 to 19000

Sensex may blast to 20000 this Diwali

SAIL joins trillion-rupee market cap club

19,000 in 4 days and counting

ONGC, Reliance Energy soar; Nifty crosses 5600

Bulls and bonuses add Rs 5.7 lakh crore wealth

Car companies to roll out 20 new models in 2008

Kinetic to set up gear box unit for Tata's Rs 1 lakh car

Metals surge on higher Q2 hopes

IT & ITeS firms continue to rush for SEZs

Indian Bank Jul-Sep net profit up 46%

Jindal Drilling bags Rs 660-crore contract from ONGC

SBI mutual launches capital protection fund

Subex bags order from Zimbabwe-based Econet Wireless

Ushdev International board OKs 1 for 1 bonus share issue

Jaiprakash Associates approves 5-for-1 stock split

BHEL gets $38 mn UAE turbine order

Patel Engineering's order book at Rs 5400 crore

Australian pension funds may invest Rs 1,300 cr in KGPL

MIC Electronics to consider acquisitions

Phoenix Mills gets Rs 350 cr for hotel JV

Reliance Retail, Citi team up for finance venture

AXIS Bank Q2 net profit up 60.45%, income up 67%

McDonald's to invest Rs 300 crore in India operations

Stocks to watch

Stock Analysis: Sobha Developers, Torrent Power, Great Offshore

LIC Housing Finance plans equity share issue

3i Infotech acquires US-based J&B Software

Global R&D activity set to shift to Asia

BusinessLine.in

Railways earnings up 10.87% in April-September

Demerger talks help L G Balakrishnan & Bros climb
HSBC ups stake in Matrix Laboratories

Union Bank Q2 results on Oct 24

Jindal Stainless Q2 results on Oct 26

Grasim Industries Q2 results on Oct 27

SREI Infrastructure gets nod for warrant issue

Morgan Stanley ups stake in Vakrangee Softwares

Business Standard

US Polo piggybacks on Arvind Mills

FIIs net buyers of Rs 2,869cr in cash market

Sensex @ 19K:

MoneyControl.Com Orbit Corporation Q2 net profit up at Rs 39.9 cr

Sensex’s immediate target at 19500-19800...

Jai Corp sees biggest PE deal in seconda...

CEOs salute Sensex@19k

TCS H1 revenues at Rs 10843cr ($2.7b) up 25.3% YoY

Nagarjuna Const's JV bags order, stock hits new high

Mittal buys more

Dish TV in talks with PE players for stake sale

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Results calendar

Results Calender

16, October 2007

Aztecsoft 16-Oct-07

Blue Dart 16-Oct-07

Chetinad Cem 16-Oct-07

Goa Carbon 16-Oct-07

HCL Tech 16-Oct-07

IDBI 16-Oct-07

Jubilant Org 16-Oct-07

Kabra Extrusion 16-Oct-07

Kajaria Ceramic 16-Oct-07

Kamdhenu Ispat 16-Oct-07

Madras Aluminiu 16-Oct-07

Mudra Lifestyle 16-Oct-07

Plastiblends 16-Oct-07

SBI Home Financ 16-Oct-07

Shasun Chemical 16-Oct-07

Tata Sponge Iro 16-Oct-07

Vinyl Chemicals 16-Oct-07

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Other Results......

Kavveri Telecom net climbs 3.65 times in Sep`07 qtr

Kavveri Telecom Products registered a 3.65 times growth in net profit to Rs 51.00 million, for the quarter ended September 2007, compared with Rs 13.96 million in the corresponding quarter, last fiscal.Net sales for the quarter increased 3.75 times, to Rs 403.97 million, as compared with Rs 107.68 million for the same quarter, a year ago.
Total income for the quarter also rose, 3.75 times to Rs 404.64 million, as against Rs 107.87 million for the corresponding quarter, a year ago.


Indian Bank net rises 46.37% in Sep`07 qtr

Chennai-based, Indian Bank (Q, N,C,F)* disclosed a phenomenal jump in net profit, for the quarter ended September 2007. During the quarter, the company experienced a 46.37% rise in profit to Rs 2,476 million from Rs 1,691.90 million in the same quarter, last year.
Total income rose 26.93% to Rs 14,931.40 million for the quarter ended September 2007, from Rs 11,763.10 million for the same period, a year ago.
On Quarter on Quarter basis, the bank reported a growth of 16.77% in its net profit. Its net profit for the reporting quarter stood at Rs 2,476 million, as compared to Rs 2,120.30 million in the previous quarter, ended June 2007.


Jaiprakash Associates Q2 net climbs 15.56%

Jaiprakash Associates reported a growth of 15.56% in net profit for the quarter ended September 2007. During the quarter, the company experienced a rise in profit to Rs 1,040 million from Rs 900 million in the same quarter, last year.Net sales for the quarter climbed 14.11% to Rs 8,620 million, while total income for the quarter rose 11.95% to Rs 9,220 million, when compared with the corresponding quarter, a year ago. The company posted diluted earnings per share after extraordinary items of Rs 4.41 during the quarter.


UCO Bank net rises 9.77% for Sep `07 qtr

Kolkata-based, UCO Bank disclosed (Q, N,C,F)* a marginal rise in net profits for the quarter ended in September 2007. During the quarter, the company experienced a 9.77% rise in profit to Rs 1,105.30 million from Rs 1,006.90 million.
Interest earned for the quarter rose 21.28% to Rs 15,810.40 million compared with Rs 13,036 million in the corresponding quarter, a year ago.
Total income rose 22.94% to Rs 17,341.90 million for the quarter ended September 2007 from Rs 14,105.50 million for the same period last year.


Sasken Comm. net up 22% for Sep`07 qtr


Sasken Communication Technologies announced a 21.90% rise in net profit at Rs 140.08 million for the quarter ended September 2007 as compared with Rs 114.92 million for the quarter ended, September 2006.
Operating income for the quarter rose 12.30% to Rs 1,050.11 million as against Rs 935.07 million in the same quarter of the previous year.
Total income increased to Rs 1,129.08 million, for the quarter ended September 2007, from Rs 947.43 million for the quarter ended September 2006.


KLG Systel Q2 net soars 3.12 times

KLG Systel reported a phenomenal growth of 3.12 times in net profit for the second quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 125.68 million from Rs 40.29 million in the same quarter of the previous year.
Substantial rise in operating margins together with phenomenal revenue growth rate helped the company to report excellent growth in earnings. Operating margins increased to 32.11% during the quarter compared with 26.64% in the corresponding quarter, a year ago. The net sales for the quarter jumped 2.44 times to Rs 571.47 million, while total income for the quarter surged 2.42 times to Rs 574.92 million, when compared with the corresponding quarter, a year ago.


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Results: Axis bank, Patel, Monnet Ispat, Guj NRE, Vakrangee

AXIS Bank Q2 net jumps 60.46%

AXIS Bank, formerly UTI Bank, registered a substantial jump of 60.46% in net profit for the quarter ended September 2007, to Rs 2,278.20 million from Rs 1,419.80 million in the same quarter, last year.

Interest earned by the bank for the quarter surged 59.65% to Rs 16,764.90 million, while the total income jump 64.11% to Rs 20,593.70 million, when compared with the corresponding quarter, a year ago.The bank reported a diluted EPS after extraordinary items of Rs 7.14 during the quarter.


Patel Engineering net up 29% in Sep`07 qtr

Patel Engineering registered a 29.55% rise in net profit to Rs 324.40 million for the quarter ended Sep. 30, 2007, as compared with Rs 250.40 million, for the quarter ended Sep. 30, 2006.
For the quarter ended September 2007, the company`s net sales jumped 19.14%, to Rs 2,357.70 million, compared with Rs 1,978.88 million for the quarter ended September 2006.

Total income for the quarter rose 20.22% to Rs 2,402.70 million, compared with Rs 1,998.54 million in the same quarter, last year.The earning per share (EPS) stood at Rs 5.44 for the quarter ended Sep. 30, 2007.


Monnet Ispat net up 36.17% in Sep`07 qtr

Monnet Ispat and Energy registered a 36.17% growth, in net profit to Rs 367.80 million for the quarter ended September 2007, as compared with Rs 270.10 million for the corresponding quarter, last fiscal.Net sales for the quarter rose 92.36% to Rs 2,583.10 million, as compared with Rs 1,342.80 million for the same quarter, a year ago.
Total income for the quarter rose 91.63% to Rs 2,633.50 million, as against Rs 1,374.20 million for the corresponding quarter, last year.
The earnings per share (EPS) of the company stood at Rs 10.19 in the quarter ended September 2007.

Gujarat NRE Q2 net jumps 7.21 times

Gujarat NRE Coke, India`s largest non-captive manufacturer of low ash metallurgical coke, reported a phenomenal growth of 7.21 times in net profit for the quarter, ended September 2007. During the quarter, the company saw a rise in net profit to Rs 125.5 million from Rs 17.40 million, in the same quarter of the previous year.

Substantial rise in operating margins, helped the company to report an excellent growth in earnings. Operating margins increased to 11.26% during the quarter, a rise of 453.20 basis points compared with the corresponding quarter, a year ago.


Vakrangee Softwares net up 2.64 times in Sep`07 qtr

Vakrangee Softwares registered a growth of 2.64 times in net profit to Rs 127.35 million for the quarter ended September 2007 from a profit of Rs 48.07 million for the quarter ended September 2006.

Net sales for the quarter rose 86% to Rs 562.56 million from Rs 302.45 million in the same quarter, last year.Total income rose 85.44% to Rs 563.26 million for the quarter ended September 2007 from Rs 303.74 million for the quarter ended September 2006.



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Results - TCS, IFCI, Welspun Guj

Tata Consultancy Q2 net up 26pct, beats forecast
The Economic Times

MUMBAI: Tata Consultancy Services Ltd, India's top software services exporter, posted a 25.7 per cent jump in quarterly profit on Monday, exceeding forecasts, as it won large outsourcing deals and raised fees for customers. The company, part of India's Tata Group that has diverse interests including steel and cars, said net profit in the September quarter rose to 12.47 billion rupees ($317 million) from 9.92 billion a year earlier under US accounting rules.

A poll of 12 brokerages had forecast a net profit of 12.23 billion rupees for Mumbai-based Tata Consultancy, whose leading clients include General Electric and ABN AMRO. Ahead of the announcement, shares in Tata Consultancy, which the market values at $26.6 billion, ended nearly 1 per cent higher at 1,073.65 rupees in a Mumbai market that rose 3.5 per cent to a record close.


TCS Q2 net profit at Rs 1246.9cr from Moneycontrol.Com


Tata Consultancy Services (TCS) has come out with September quarter numbers. The company has reported net profit of Rs 1246.9 crore (Rs 12.47 billion) for the quarter ended September 2008 as against Rs 1,185.5 crore (Rs 11.85 billion) in the previous quarter.
Revenues increased to Rs 5639.8 crore (Rs 56.4 billion) from Rs 5,202.8 crore (Rsr 52.03 billion).
Other income stood at Rs 110 crore (Rs 1.1 billion). Its consolidated operating income was at Rs 1,344 crore (Rs 13.44 billion) (US GAAP).
TCS has added 9,268 employees, 51 new clients in the September quarter of 2008.
The attrition rate in IT services for the quarter ended September 2008 was at 10.9% while in BPO at 17.9%.
Travel, hospitality business contributed 4.4% of September quarter revenue versus 2.8% in previous quarter.
TCS has added 966 employees in overseas arms and branches.


IFCI net jumps four-fold to Rs 497.29 cr
The Economic Times

NEW DELHI: Country's oldest financial institution, IFCI on Monday posted a four-fold jump in net profit at Rs 497.29 crore for the quarter ended September 30, as compared to Rs 115.89 crore in the same period last year. Total income stood increased 81 per cent to Rs 595.60 crore as against Rs 327.4 crore in the year-ago period, the company said here.

For the half yearly period ended September 30, the company recorded a net profit of Rs 744.15 crore as compared to Rs 100.22 crore in the corresponding period last year. Total income stood at Rs 1081.17 crore for the six months ended September 30 as compared to Rs 585.05 crore in the year-ago period. The company, which came out of red last year, had registered net profit of Rs 873.71 crore in 2006-07.



Welspun-Gujarat Stahl net jumps two-fold to Rs 82.5 cr
The Economic Times

MUMBAI: Saw pipe maker Welspun-Gujarat Stahl Rohren on Monday posted an over two-fold rise in net profit at Rs 82.5 crore for the quarter ended September 30 as compared to Rs 33.5 crore in the corresponding quarter last fiscal.

Total income of the company increased to Rs 929.8 crore for the second quarter in 2007-08 from Rs 674.9 crore in the year-ago period, up 37.77 per cent, the company informed the Bombay Stock Exchange. Shares of the company were trading at Rs 336.05, up 0.25 per cent in the afternoon trade at the BSE.



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19K..Gainers...Sensex....Nifty...

BSE Gainers (Sensex)

Company
Current Price
Previous Close
% Change
Volume
RELIANCE ENR
1847.35
1636.30
12.90
2,724,401
O N G C
1191.00
1091.60
9.11
658,946
TATA STEEL
911.40
848.10
7.46
1,408,539
MARUTI UDYOG
1160.35
1096.80
5.79
274,874
HINDALCO
188.85
178.90
5.56
2,267,255
BHARTI TELE
1126.75
1069.25
5.38
217,560
S B I
1956.95
1862.30
5.08
840,817
REL COM LTD
752.70
717.75
4.87
2,624,013
NTPC LTD
226.80
217.50
4.28
3,602,534
H D F C BANK
1490.45
1430.85
4.17
125,282

NSE Gainers (Nifty)
Company
Current Price
Previous Close
% Change
Volume
S A I L
259.05
223.75
15.78
28,199,620
STERLITE (I)
931.20
814.65
14.31
2,322,827
RELIANCE ENR
1844.40
1636.70
12.69
7,285,728
O N G C
1190.50
1093.80
8.84
2,737,128
GAIL
438.95
404.95
8.40
2,056,490
SIEMENS
1514.95
1405.45
7.79
524,396
TATA STEEL
912.00
850.35
7.25
3,677,531
MARUTI UDYOG
1160.70
1096.75
5.83
1,226,522
TATA POWER
1108.35
1049.60
5.60
1,267,702
BHARTI TELE
1125.65
1068.60
5.34
3,435,313

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