India second best destination for FDI in 2007: UNCTAD
Sensex may scale 20,000 in 2-3 days: Analysts
LIC makes hay with every bull shine
India to grow by 10% annually: Lehman
Investors make Rs 2,10,000 cr in a day
India most bullish market; China 2nd: ING Research
Information is the key to SME growth
IDBI Q2 profit at Rs 155 crore
38% global companies asked to pay bribe in India: PwC
IFCI hopes to sell 26% stake in two-and-a-half months
Merrill Lynch invests $55 mn in Vestas RRB
Tatas, IOC, OIL to jointly bid for oil field in Azerbaijan
Wockhardt set to acquire US firm for $70 mn
HDIL in pact with Mumbai airport for slum project
Food Bazaar goes for regional flavour, to double by June'08
Vishal Retail opens four more stores across the country
Future Group forms JV for logistics arm
Berlin-based co wins $43 mn Delhi Metro contract
IMF lauds India's growth, says monetary policy appropriate
Canara Bank reduces interest on personal, vehicle loans
Tata Consultancy to hire 9,000 employees in Q3
HC order may have bearing on Reliance Power's IPO
Merrill buys 5% in Religare before IPO
Varun Industries IPO opens Oct 25; issue price Rs 60/share
Persistent Systems plans 49.74 lakh share IPO
New bikes top TNS consumer satisfaction ratings
BoB ties-up with Franklin Templeton
ICICI Bank top financier with $2.3 bn deals in Asia Pacific
Caterpillar buys 30% in Polyhose India
Motilal Oswal VC Advisors invests Rs 31 cr in RT Outsourcing
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16 October 2007
Result Calendar
Results on 17-Oct-2007
Polaris 17-Oct-07
Reliance Energy 17-Oct-07
Gateway Distri 17-Oct-07
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Result Updates: HCL Tech, IDBI, Tata Sponge, Blue Dart, Jubliant
HCL Technologies (standalone) net rises 28.34% in Sep `07 qtr
On consolidated basis (as per US GAAP), leading Global Technology and IT enterprise, HCL Technologies reported a rise of 42.06% in net income to USD 77.41 million, for the quarter ended Sep. 30, 2007 as compared to USD 54.49 million, for the quarter ended Sep. 30, 2006.
Total revenue for the quarter rose 42.80% to USD 429.01 million, compared with USD 300.41 million in the corresponding quarter, a year ago.
On standalone basis HCL Technologies disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 28.34% rise in profit to Rs 2,641.70 million, from Rs 2,058.30 million in the corresponding quarter a year ago.
Net sales for the quarter rose 23.68% to Rs 11,028.60 million, compared with Rs 8,916.40 million in the corresponding quarter, a year ago.
Total income rose 24.23% to Rs 11,461.10 million, for the quarter, ended September 2007, from Rs 9,225.20 million for the same period last year.
E T C Networks` net up 3.33 times in Sep` 07 qtr
E T C Networks, registered a 3.33 times growth in net profit to Rs 34.17 million, for the quarter ended September 2007, from a profit of Rs 10.26 million, for the quarter ended September 2006
Net Sales for the quarter rose 41.08% to Rs 134.96 million for the quarter ended September 2007, from Rs 95.66 million for the quarter ended September 2006.
Total income rose 42.86% to Rs 141.72 million for the quarter ended September 2007, from Rs 99.20 million for the quarter ended September 2006.
IDBI Bank net up 11.5% in Sep`07 qtr (update)
Industrial Development Bank of India (IDBI Bank) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared to Rs 1394.00 million for the quarter ended September 2006.
Interest Earned Income rose to Rs 19,010.70 million from Rs 14,486.30 million a year ago.
Total Income rose 44%, to Rs 23,637.20 million for the quarter ended September 2007 where as the same was at Rs 16,412.40 million for the quarter ended September 2006.
Country Club India net jumps 2.15 times for Sep`07 qtr
Hyderabad-based Country Club (Q, N,C,F)* India (CCIL), an operator of chain of clubs, reported a substantial jump of 2.15 times in net profit to Rs 151 million for the quarter ended September 2007 as against Rs 70.25 million for the corresponding quarter last year.
Net sales surged 2.04 times to Rs 668.11 million for the quarter ended September 2007, from Rs 326.27 million for the quarter ended September 2006.
Tata Sponge swings to net profit for Sep `07 qtr
Tata Sponge Iron, engaged in the production of sponge iron, disclosed a phenomenal jump in net profit for the quarter ended in September 2007. During the quarter, the company swung to a net profit of Rs 178.30 million from a loss of Rs 7.40 million in the corresponding quarter a year ago.Net sales for the quarter rose 74.67% to Rs 969.10 million compared with Rs 554.80 million in the corresponding quarter, a year ago. Total income rose 86% to Rs 1,070.30 million for the quarter ended September 2007 from Rs 575.40 million for the same period last year.
Jubilant Organosys Q2 net surges 2.06 times
Jubilant Organosys, an integrated pharmaceutical industry player, registered a phenomenal growth of 2.06 times in net profit for the quarter ended June 2007. The healthy growth in sales and other income coupled with improved operating margins, helped the company post better earnings growth. During the quarter, net profit of the company jumped to Rs 1,117 million from Rs 542 million, in the same quarter last year.Net sales for the quarter climbed 20.65% to Rs 4,930 million, while the total income for the quarter rose 24.26% to Rs 5,240 million, when compared with the corresponding quarter, a year ago. Operating margins improved to 21.93%, during the quarter, a rise of 269 basis points, compared with the corresponding quarter, a year ago.
Blue Dart Express net rises 2 times for Sep `07 qtr
Blue Dart Express disclosed a phenomenal rise in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2 times to Rs 174 million from Rs 87 million in the corresponding quarter a year ago.Net sales for the quarter rose 17.45% to Rs 2,073 million compared with Rs 1,765 million in the corresponding quarter, a year ago. Total income rose 17.49% to Rs 2,082 million for the quarter ended September 2007 from Rs 1,772 million for the same period last year.
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On consolidated basis (as per US GAAP), leading Global Technology and IT enterprise, HCL Technologies reported a rise of 42.06% in net income to USD 77.41 million, for the quarter ended Sep. 30, 2007 as compared to USD 54.49 million, for the quarter ended Sep. 30, 2006.
Total revenue for the quarter rose 42.80% to USD 429.01 million, compared with USD 300.41 million in the corresponding quarter, a year ago.
On standalone basis HCL Technologies disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 28.34% rise in profit to Rs 2,641.70 million, from Rs 2,058.30 million in the corresponding quarter a year ago.
Net sales for the quarter rose 23.68% to Rs 11,028.60 million, compared with Rs 8,916.40 million in the corresponding quarter, a year ago.
Total income rose 24.23% to Rs 11,461.10 million, for the quarter, ended September 2007, from Rs 9,225.20 million for the same period last year.
E T C Networks` net up 3.33 times in Sep` 07 qtr
E T C Networks, registered a 3.33 times growth in net profit to Rs 34.17 million, for the quarter ended September 2007, from a profit of Rs 10.26 million, for the quarter ended September 2006
Net Sales for the quarter rose 41.08% to Rs 134.96 million for the quarter ended September 2007, from Rs 95.66 million for the quarter ended September 2006.
Total income rose 42.86% to Rs 141.72 million for the quarter ended September 2007, from Rs 99.20 million for the quarter ended September 2006.
IDBI Bank net up 11.5% in Sep`07 qtr (update)
Industrial Development Bank of India (IDBI Bank) announced a 11.5% rise in net profit at Rs 1,555.00 million for the quarter ended September 2007 as compared to Rs 1394.00 million for the quarter ended September 2006.
Interest Earned Income rose to Rs 19,010.70 million from Rs 14,486.30 million a year ago.
Total Income rose 44%, to Rs 23,637.20 million for the quarter ended September 2007 where as the same was at Rs 16,412.40 million for the quarter ended September 2006.
Country Club India net jumps 2.15 times for Sep`07 qtr
Hyderabad-based Country Club (Q, N,C,F)* India (CCIL), an operator of chain of clubs, reported a substantial jump of 2.15 times in net profit to Rs 151 million for the quarter ended September 2007 as against Rs 70.25 million for the corresponding quarter last year.
Net sales surged 2.04 times to Rs 668.11 million for the quarter ended September 2007, from Rs 326.27 million for the quarter ended September 2006.
Tata Sponge swings to net profit for Sep `07 qtr
Tata Sponge Iron, engaged in the production of sponge iron, disclosed a phenomenal jump in net profit for the quarter ended in September 2007. During the quarter, the company swung to a net profit of Rs 178.30 million from a loss of Rs 7.40 million in the corresponding quarter a year ago.Net sales for the quarter rose 74.67% to Rs 969.10 million compared with Rs 554.80 million in the corresponding quarter, a year ago. Total income rose 86% to Rs 1,070.30 million for the quarter ended September 2007 from Rs 575.40 million for the same period last year.
Jubilant Organosys Q2 net surges 2.06 times
Jubilant Organosys, an integrated pharmaceutical industry player, registered a phenomenal growth of 2.06 times in net profit for the quarter ended June 2007. The healthy growth in sales and other income coupled with improved operating margins, helped the company post better earnings growth. During the quarter, net profit of the company jumped to Rs 1,117 million from Rs 542 million, in the same quarter last year.Net sales for the quarter climbed 20.65% to Rs 4,930 million, while the total income for the quarter rose 24.26% to Rs 5,240 million, when compared with the corresponding quarter, a year ago. Operating margins improved to 21.93%, during the quarter, a rise of 269 basis points, compared with the corresponding quarter, a year ago.
Blue Dart Express net rises 2 times for Sep `07 qtr
Blue Dart Express disclosed a phenomenal rise in net profit for the quarter ended September 2007. During the quarter, the company`s net profit rose 2 times to Rs 174 million from Rs 87 million in the corresponding quarter a year ago.Net sales for the quarter rose 17.45% to Rs 2,073 million compared with Rs 1,765 million in the corresponding quarter, a year ago. Total income rose 17.49% to Rs 2,082 million for the quarter ended September 2007 from Rs 1,772 million for the same period last year.
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Result Updates: HCL Tech,
Tata Sponge
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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Nifty end with marginal losses,
Sensex
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]
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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15 October 2007
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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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
BusinessLine.in
Business Standard
MoneyControl.Com Orbit Corporation Q2 net profit up at Rs 39.9 cr
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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
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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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.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.myiris.com and for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
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