Sensex races to a new high, ends 472 pts up

NIFTY 5702.30 133.35
SENSEX 19243.17 472.28

The market regulator SEBI went ahead and approved all draft proposals at its board meeting on Thursday. But then, the bulls remained undeterred by the move to tighten investment rules for unregistered foreign entities. Instead, the smooth rollover of derivatives contracts, a good set of results from India Inc and firm global markets prompted them to go on a buying spree today.
Save for a brief while in morning trade, when it slipped and fell to 18,629.53, losing around 140 points, the Sensex stayed high up in the positive territory right till the end of the session. The splendid rally in blue chip stocks lifted it to a new high of 19,276.45 in afternoon trade and despite finishing a few points down from that level at 19,243.17, the barometer recorded a sparkling gain of 472.28 points or 2.52% today.

The National Stock Exchange's CNX Nifty index, which hit a high of 5716.90 - it fell short of its all-time high of 5736.80 - in intra-day trades, settled at 5702.30, netting a big gain of 2.39% or 133.35 points for the day.

Bharti Airtel (down 2.55%), Hindustan Unilever (down 1.3%), Ambuja Cements (down 1.2%), ITC (down 1.1%), Ranbaxy Laboratories (down 1.05%), Cipla (down 0.9%) and Dr. Reddy's Laboratories (down 0.4%) ended on a weak note.

Larsen & Toubro, with strong quarterly results and a fat order book buoying it up, vaulted by 12.2% to Rs 3876.80 today. BHEL closed with a handsome gain of 6.25%.

State Bank of India turned in an impressive performance and notched up a smart gain of 7.2%. ICICI Bank finished with a gain of 3.35%. Mahindra & Mahindra (3.8%), ONGC (3.8%), Satyam Computer Services (3.2%), NTPC (2.55%), Reliance Industries (2.45%), Tata Motors (2.2%), Maruti Udyog (1.95%), Reliance Communications (1.9%), Tata Consultancy Services (1.9%), Grasim Industries (1.8%), ACC (1.75%), HDFC (1.65%) and Reliance Energy (1.25%) also ended with strong gains.

Bajaj Auto, HDFC Bank, Hindalco, Infosys Technologies and Wipro finished with modest gains. Tata Steel closed marginally higher than its previous closing price.

Nalco, Reliance Petroleum, SAIL, GAIL India, Sterlite Industries, Sun Pharmaceuticals, VSNL, Unitech, Hindustan Petroleum Corporation, Tata Power, Suzlon Energy and Zee Entertainment closed on a high note. Siemens and MTNL also finished with smart gains.

Engineers India hit the 20% upper circuit today. Dredging Corporation (17.75%), HMT (15.8%), IndusInd Bank (14%), Jaiprakash Associates (12.95%) and Container Corporation (11.85%) closed with hefty gains.

Ashok Leyland, Finolex Cables, GE Shipping, Bharat Earth Movers and Crompton Greaves gained 7% - 10%. Bharat Forge, Nicholas Piramal, Power Finance Corporation, Adani Enterprises, Axis Bank and Jindal Steel also closed with handsome gains.

Lakshmi Machine Works, Gujarat NRE Coke, India Infoline, Everest Kanto Cylinder, Gujarat Alkalies, Time Techno, Gitanjali Gems, Simplex Infrastructure, Bilcare, Cranes Software, Tube Investments, Redington India and Nagarjuna Constructions were among the big gainers in the midcap index.

Among small caps, Disa India, Nesco, Electrosteel Castings, OCL India, Marg Constructions, GE Capital, Ratnamani Metals, TIL, Atul, ITD Cementation, Parry Agro, India Hume Pipe, Zandu Pharma, Hercules Hoist, Info Media, Nirlon, Tata Sponge, ITI and Viceroy Hotels were among the leading gainers today.

Among the sectoral indices, barring the FMCG index, which eased by 0.28%, the other indices ended on the positive side. The Capital Goods index, the biggest gainer, moved up by over 7%. Mirroring investor interest for stocks from midcap and smallcap segments, the BSE Midcap and Smallcap indices ended stronger by 2.19% and 1.96% respectively.

The market breadth, thanks to an extremely bullish mood, remained strong right through the session today. The volume of business was fairly good today.

Sensex ends 472 pts up

Inflation rate remains steady at 3.07%



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Day's Quote/Corporate Story

Quote of the Day

" By being active, we are doubling our efficiency. By being inactive, we are hiding our efficiency. But remember, we have efficiency (only hiding it)."


Corporate/Personality of the Day

ICICI Bank

ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is India's largest private sector bank in market capitalization and second largest overall in terms of assets. ICICI Bank has total assets of about USD 79 Billion (end-Mar 2007), a network of over 950 branches and offices, about 3600 ATMs, and 24 million customers(as of end July '07). ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. ICICI Bank's equity shares are listed in India on stock exchanges at Kolkata and Vadodara, the Stock Exchange, Mumbai and the National Stock Exchange of India Limited and its ADRs are listed on the New York Stock Exchange (NYSE).

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


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Venture Funds, Private Equity Updates

From VCCircle.Com

Ambit Wants A Global Partner Who Is Willing To Take A Minority Stake

Adani Group Strikes Two PE Deals Worth $347 Million

Draper Fisher Jurvetson Invests In Out-of-Home TV Company LiveMedia

Apollo Health Street Plans IPO To Retire Debt For Zavata Acquisition

Wockhardt Acquires Morton Grove Pharma In US For $38 Million

Microsoft Beats Google For A Minority Stake In Facebook; Buys 1.6% Stake For $240 Million, Valuing It At $15 Billion

Draper Fisher Jurvetson Closes $290 Million Growth Fund

Shapoorji Pallonji In Talks With PE Firms To Sell Stake In SEZ Projects

Goldman Sachs Probably Interested In Sabeer Bhatia’s Nano City Project

Erasmic Fund Invests In Custom Gifts And Merchandise Firm Myntra Designs

Asit Kotecha Backs Top-end French Salon JCB’s India Franchisee

Subhkam Ventures Invests $8.5 Million In MSK Projects

Kuwait’s Global Investment House Invests $5 Million In Reach Cargo

3i Picks Up 6.6% Stake In Welspun Gujarat For $80 Million



From Indiape.com

3i invests Rs9bn in Adani Power

Extramarks to raise $5mn from VCs

GVFL invests in Sahajanand Laser Technology

Myntra secures seed funding from Erasmic Venture Fund

15 firms in race to buy stake in UTI AMC

India to launch its seed fund

BP may buy Cairn Energy Plc

PE firm GIP buys 74 pc stake in East India Petroleum

Deepak Roy picks up 5% in BDA

Hot Sectors for PE Investment in India

‘Venture capital, PE deals to touch Rs 70,000 cr by 2009’

RBI for ban on automatic FDI in realty

Shapoorji Pallonji eyes PE investments



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Financial Jobs alerts from Coolavenues, Kpowave

Careers in HSBC Investments
For application please mail your resume to the adress given below with the subject of the e-mail address being investments for finance and analyst related jobs:HumanResources_ISIN@hsbc.co.in


SBI Capital Markets Ltd

Job Openings in Web Spiders



General Management / Consulting Positions

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Station Head : Big 92.7 FM http://www.coolavenues.com/jobs/1007_1_1296.php

Executive Assistant (Manager) : Wipro Technologies http://www.coolavenues.com/jobs/1007_1_1314.php

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Asst. Manager / Manager / Sr. Manager : A Leading Consulting MNC http://www.coolavenues.com/jobs/1007_1_1303.php


Finance / Banking Positions

Executive Assistant (Manager) : Wipro Technologies http://www.coolavenues.com/jobs/1007_1_1314.php

Consultant - Finance & Performance Management - Enterprise Performance Management : World's Leading Management Consulting Company http://www.coolavenues.com/jobs/1007_1_1315.php

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Manager - Insurance - Marketing & Sales - http://www.coolavenues.com/jobs/1007_1_1318.php

Manager - Insurance Claims - http://www.coolavenues.com /jobs/1007_1_1319.php

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Operations Management

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Headlines from ET

KSS-Abhishek auto for JV co; to invest $20 mn
Kotak Mahindra to enter into credit card business
UCO Bank in talks with ARCs to sell bad loans worth Rs 50 cr
Fitch affirms ICICI's Indian RMBS 2003 Trust Series 1
Marico eyes acquisitions in beauty segments

Arvind Mills signs pact with US firm Cherokee
Alok Industries to consider realignment of businesses
REL, L&T, Sterlite bid for Krishnapatnam UMPP
Fitch affirms Reliance Energy's 'AAA(Ind)' rating
Power utilities' revenues up 43%: Assocham

Power trading will boost production: MCX Chief
ONGC to dilute 50% in KG block
India's September oil product sales up 1.9 pc y/y
Refiners' Sept oil processing up 6.9 pc YoY

Suven Life Sciences to develop therapy for HIV
BEML receives Rs 648 cr order from Northern Coalfields
Energy Development gets order worth Rs 14crore
BEML bags Rs 1,144 cr order from DMRC

Total number of FM stations go upto 120
Pune expo to zoom in on world of animation
Policy norms only after TEC report: Raja
MTNL launches 'One Minute' plan
Telcos front-runners in bid for tracking devices in Delhi buses


Brokers expect better business after PN ban
Marg Constructions surges on MoU with Malaysian firm
UTI AMC to appoint merchant bankers by Nov-end
Oracle sets up R&D, solution units in India
Teradata betting big on India

India 2nd least globalised economy: Report



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SEBIs New Policy on P Notes

Sebi announces new P-Note policy

M Damodaran, Chairman, Sebi, while announcing the decision on the new policy on P-notes said that this was not a board meeting to decide on a single issue.

Speaking to mediapersons after the Sebi board meet today, he said the stock exchanges would be mandated to constitute a committee chaired by a non-executive member of a concerned exchange to focus on surveillance. This, he feels, would make the market a safer place for investors.

The meet also saw new policy announcements like clearing of Sebi's proposal to have an SME exchange.

But the most awaited decision on P-notes was that the board has decided that FIIs and sub-accounts shall not issue P-Notes as underlying as derivatives.

"All current position to be wound up within 18 months. Further issue of PNs by sub-accounts will be discontinued with immediate effect," Damodaran said.

Highlights of M Damodaran's announcements at the Sebi Press Conference:

Sebi board cleared proposal to have a separate exchange for SME Segment
Date of calculation of AUC will be Sept 30
Sub accounts not to be allowed to issue PNs
PNs can't be issued with ODIs as underlying
FIIs shall not issue P-notes as underlying as derivatives has been approved
Current position to be wound up within 18 months
Board has decided further issuance of P-notes by sub accounts of FIIs to be discontinued with immediate effect
Sub accounts issuing P-notes have applied for registration of FIIs: Sebi
Until a final decision is taken on their being FIIs, sub accounts can continue as normal
Both proprietary and corporate sub-accounts will be allowed to do business till final decision is announced.

Further, View: Sebi announces new P-Note policy

Sub-accounts cannot issue P-notes: SEBI

Mkts have factored in Sebi news: Experts

Positives and negatives of new P-note policy

The new P-note policy was announced by Sebi Chairman M Damodaran, at the Sebi headquarters today. The following were the positive and negative points that emerged:

NEGATIVES:

Date of calculation of AUC to be Sep 30

PNs can be issued only to regulated entities and not registered entities as per FII rules of 2004

POSITIVES:
Both proprietary, corp sub A/Cs can continue till final decision

Broad based entities with atleast 20 investors, no single investor can hold more than 49% (vs10% before)

Fund manager should have 1-yr track record, not the fund

Pension funds, charities, endowments to be considered separate category


SEBI has the last word on P-Notes




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Result on Friday

Results Calender from Indiaearnings.com. Some results might have been announced earlier.

Ador Welding 26-Oct-07

Advanta 26-Oct-07

ALLSEC Tech 26-Oct-07

Andhra Bank 26-Oct-07

Apollo Tyres 26-Oct-07

Asahi India 26-Oct-07

AstraZeneca 26-Oct-07

Atlanta 26-Oct-07

Atul 26-Oct-07

Avaya GlobalCon 26-Oct-07

Banco Products 26-Oct-07

Bata India 26-Oct-07

BEML 26-Oct-07

Bhagyanagar Ind 26-Oct-07

Bharat Bijlee 26-Oct-07

Bharat Elec 26-Oct-07

Bharat Forge 26-Oct-07

Blue Chip 26-Oct-07

Bombay Burmah 26-Oct-07

Cadila Health 26-Oct-07

Carborundum 26-Oct-07

Celestial Labs 26-Oct-07

City Union Bank 26-Oct-07

Clutch Auto 26-Oct-07

Colgate 26-Oct-07

CRISIL 26-Oct-07

D-Link (India) 26-Oct-07

Dabur Pharma 26-Oct-07

Dalmia Cement 26-Oct-07

De Nora India 26-Oct-07

Deccan Cements 26-Oct-07

DeccanChronicle 26-Oct-07

Dredging Cor 26-Oct-07

Educomp Sol 26-Oct-07

Emkay Shares 26-Oct-07

Excel 26-Oct-07

Gabriel India 26-Oct-07

Godrej Ind 26-Oct-07

GVK Power 26-Oct-07

HDIL 26-Oct-07

Hind Constr 26-Oct-07

HT Media 26-Oct-07

I-Flex Solution 26-Oct-07

ICI India 26-Oct-07

ICSA 26-Oct-07

Indian Hotels 26-Oct-07

ITC 26-Oct-07

JBM Auto Comp 26-Oct-07

JindalStainless 26-Oct-07

JK Cement 26-Oct-07

JSW Holdings 26-Oct-07

Jyoti Structure 26-Oct-07

Kakatiya Cement 26-Oct-07

Kale Consult 26-Oct-07

Kanoria Chem 26-Oct-07

Kotak Mahindra 26-Oct-07

La Opala RG 26-Oct-07

Lakshmi Prec 26-Oct-07

Lanco Infratech 26-Oct-07

Larsen 26-Oct-07

Mahindra Forg 26-Oct-07

Micro Tech 26-Oct-07

Modern Dairies 26-Oct-07

Moser Baer 26-Oct-07

Nagarjuna Fert 26-Oct-07

Oil Country 26-Oct-07

Onward Tech 26-Oct-07

Orient Ceramics 26-Oct-07

Oriental Bank 26-Oct-07

Pantaloon Ret 26-Oct-07

Paper Products 26-Oct-07

Phoenix Lamps 26-Oct-07

Piramyd Retail 26-Oct-07

Ponni Sugars(E) 26-Oct-07

Premier Polyfil 26-Oct-07

Pudumjee Agro 26-Oct-07

Pudumjee Pulp 26-Oct-07

Raymond 26-Oct-07

Rohit Ferro Tec 26-Oct-07

SPIC 26-Oct-07

Surana Telecom 26-Oct-07

Suryachakra Pow 26-Oct-07

Syndicate Bank 26-Oct-07

Tamilnadu Petro 26-Oct-07

Tata Steel 26-Oct-07

Texmaco 26-Oct-07

Thomas Cook 26-Oct-07

TV TodayNetwork 26-Oct-07

Valecha Engg 26-Oct-07

Vimta Labs 26-Oct-07



Result Calendar from Myiris.Com


ACCEL TRANS

ADOR WELD

ADVANTA

ALLSEC TECH

ANKIT METAL

APOLLO TYRE

ASAHI IND GLASS


ATLANTA



BATA INDIA

BEML LTD

BHARAT BIJLE

BHARAT FORGE

CADILA HEALTH

CARBORUNDUM

CELEST LABS

CITY UNION BK

CLUTCH AUTO

COLGATE

CRISIL

D LINK INDIA

DABUR PHARMA

DREDGING CORP

EDUCOMP SOLN

EMKAY SHARE



GODREJ INDUS LTD

HIND CONSTN.

HOUSING DEV

HT MEDIA

I C I INDIA

I T C

I-FLEX


INDIAN HOTEL


JINDAL STAIN

JK CEMENT

JYOTI STRUCT

K S B PUMPS

KALE CONS

KOTAK MAH.FI

LAKSHMI MILL

LARSEN & TOU

MOSER-BAER P

NAG FERT

OIL COUNTRY

ORIENT CERAM

PANCH STEEL

PANTALOON RET

PIRAMYD RETL

PRATIBHA IND


RAYMOND

ROHIT FERRO

SURYACHAKRA POWER

SYNDICATE BANK

TAMILNADU PETRO

TATA STEEL

TEMPT.FOODS


THOMAS COOK

TULIP IT

TV TODAY

VALECHA ENGINEER




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Results Corner:Rcap, ABB and etc

Reliance Capital Q2 net profit up 20.42%

MUMBAI: Reliance Capital’s net profit rose 20.42 per cent to Rs 201.28 crore for the quarter ended September 2007 compared to Rs 167.15 crore in the same quarter last year. Total income increased 75.58 per cent to Rs 391.27 crore from Rs 222.84 crore in the corresponding quarter a year ago. At 12:51 pm, Reliance Capital shares were up 3.11 per cent at Rs 1,841.20 on BSE.

ABB net up 40 pc at Rs 115 cr


MUMBAI: Engineering firm ABB Ltd on Thursday said it has posted 40.83 per cent increase in net profit at Rs 115.68 crore for the quarter ended September 30 compared to Rs 82.14 crore for the reviewed quarter last fiscal. The total income of the company rose by 27.40 per cent at Rs 1,393.31 crore for the quarter ended September 30, against Rs 1,093.59 crore during the same quarter last year, the company said in a communique to the Bombay Stock Exchange. Shares of the company were last trading 0.77 per cent up at Rs 1,465 at the BSE.

Century Textiles Q2 net profit down 4% at Rs 71.54 crore

MUMBAI - Century Textiles & Industries Ltd's net profit for the July-September period declined 4 per cent to Rs 71.54 crore compared with Rs 74.79 crore in the same quarter previous year. Total income increased 3.27 per cent to Rs 784.95 crore for the quarter ended September 2007 against Rs 760.05 crore for the corresponding quarter earlier year.

3i Infotech ups net profit, revenue guidance for FY08

Software services firm 3i Infotech Ltd has revised its net profit and revenue guidance for 2007/08 upwards on a robust order book and strong growth in its back-office business, a top official said on Thursday. Net profit guidance has been set in the range 1.65-1.75 billion rupees while revenue guidance has been revised to 11.5-12.5 billion rupees, Executive Director and Chief Financial Officer Amar Chintopanth told Reuters. The earlier profit guidance was 1.45-1.55 billion rupees and revenue guidance was 10-11 billion rupees.

Cairn India reports consolidated net of Rs 232.42 mn

Cairn India, a company engaged in oil and gas exploration and production, registered a consolidated net profit of Rs 232.42 million for the quarter ended Sep. 30, 2007. The company has recorded consolidated total income of Rs 3,001.14 million for the quarter ended Sep. 30, 2007.On standalone basis, Cairn India (Q, N,C,F)* posted a net loss of Rs 83.94 million for the quarter ended September 30, 2007.The total income is Rs 79.44 million for the quarter ended Sep. 30, 2007

Voltas net rises 2.14 times in Sep` 07 qtr

Voltas, an engineering company of the Rs 400 billion Tata Group, disclosed a phenomenal jump in net profits for the quarter ended in September 2007. During the quarter, the company experienced a 2.14 times rise in profit to Rs 535.80 million from Rs 250 million in the quarter ended September 2006.Net sales for the quarter rose 36.20% to Rs 7,127.40 million compared with Rs 5,298.80 million in the corresponding quarter, a year ago. Total income rose 32.59% to Rs 7,228.50 million for the quarter ended September 2007 from Rs 5,451.60 million for the same period last year.

Mercator Lines net rises 23.54% for Sep`07 qtr

Mercator Lines, an established player in the marine transport industry, disclosed a steady growth in net profit for the quarter ended September 2007. During the quarter, the company experienced 23.54% rise in profit to Rs 265.89 million from Rs 215.21 million in the quarter ended September 2006.Net sales for the quarter declined 18.96% to Rs 1,792.15 million compared with Rs 2,211.44 million in the corresponding quarter, a year ago. Total income declined 10.71% to Rs 1,979.85 million for the quarter ended September 2007 from Rs 2,217.45 million for the same period, last year.

Gillette Q2 net dips 44.91 pc

Nicholas Piramal Q2 net rises 21%

NIIT Technologies' Q2 net profit up 8%

NIIT Technologies’ net profit improved 8 per cent to Rs 31.13 crore for the quarter ended September 2007 compared with Rs 28.87 crore in the corresponding period previous year. Net sales have increased 38 per cent to Rs 117.48 crore from Rs 84.98 crore year ago.

Radio Mirchi posts Rs 64-lakh net for July-Sept


JSW net up 47.62% in Sep`07 qtr (standalone)(update)

JSW steel on consolidated basis posted a net profit of Rs 4,932.40 million for the quarter ended September 2007. Total Income for the quarter stood at Rs 26,421.50 million.On standalone basis, the company posted a robust growth of 47.62% in net profit to Rs 5,112.30 million for the quarter ended September 2007 as compared with Rs 3,463.00 million for the corresponding quarter last year.Net sales for the quarter rose 13.64% to Rs 24,940.90 million as against Rs 21,945.80 million in the corresponding quarter last fiscal. Total income for the quarter increased 18.76% to Rs 26,187.70 million as compared with Rs 22,050.20 million in the same quarter a year ago.

RCF net drops 10.19% for Sep `07 qtr

Austin Engineering net up 13.74% for Sep`07 qtr

Shriram Transport net rises 2.42 times in Sep`07 qtr

Peninsula Land net falls 56.12% for Sep`07 qtr

BILT Q1 consolidated net rises 26.42%

Nicholas Piramal net up 20.75% in Sep`07 qtr

ABB net rises 40.83% for Sep`07 qtr

NIIT Tech net soars 44% for Sep`07 qtr

MRO TEK net up 61% for Sep`07 qtr

Bangalore-based MRO TEK posted 61.01% growth in net profit to Rs 43.65 million for the quarter ended September 2007 as compared with Rs 27.11 million for the same quarter, last fiscal. Net sales for the quarter increased 27.07% to Rs 336.56 million compared with Rs 264.86 million during the corresponding quarter, previous year.Total income for the quarter rose 26.64% to Rs 357.25 million compared with Rs 282.09 million during the same quarter, a year ago

Phoenix Mills net up 5.07% for Sep`07 qtr

Gillette India Q2 net down 45%

Eastern Silk net up 30.89% for Sep`07 qtr

Navneet Publications net rises 77% in Q2

Tudor India net down 31.02% in Sep`07 qtr

Nitco Tiles net up 49% in Sep`07 qtr

Geodesic Information consolidated net up 52.7% for Sep`07 qtr

Marg Constructions net up 12.45% in Sep`07 qtr

Viceroy Hotels net up 58% for Sep`07 qtr

Alfa Laval earnings climb 12.43%

RCF Q2 net profit at Rs 39 cr


Bank of Rajasthan Q2 net profit at Rs 24 cr

Bank of Rajasthan has announced its second quarter numbers. It has posted net profit of Rs 24 crore for the quarter ended September 2007 as against Rs 55 crore in same quarter of last year.


Motherson Sumi Q2 net profit up at Rs 38.2 cr

Motherson Sumi has announced its Q2 FY08 results. The company in second quarter of current fiscal has reported net profit of Rs 38.2 crore versus Rs 29.8 crore in same quarter of previous year.


Torrent Cable Q2 net profit at Rs 8 cr

UTV Q2 cons net profit at Rs 17.5 cr

has announced its second quarter numbers. It has posted consolidated net profit of Rs 17.5 crore for the quarter ended September 2007 as against Rs 4 crore in same quarter of last year and Rs 9 crore in previous quarter.

Mercator Lines Q2 net profit up at Rs 90.5 cr

Gujarat Ambuja Exports Q2 net profit up at Rs 18.5 cr

Gujarat Ambuja Exports in Q2 FY08 has reported net profit of Rs 18.5 cr versus Rs 11.5 cr in the same quarter previous year. During the corresponding quarters, its net sales were at Rs 375 cr vs Rs 358 cr, YoY.


TVS Motor has declared its Q2 results. Its Q2 net profit was at Rs 11.9 crore versus Rs 24.8 crore.


Cholamandalam DBS Finance Q2 net soars 3.78 times

Mysore Cements net drops 2.90% in Sep`07 qtr

DCM Shriram net rises 56.15 times for Sep`07 qtr




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Maytas Infra closes at 70.27% premium on NSE

Hyderabad-based Maytas Infra, a company engaged in infrastructure development, construction and project management, after listing on bourses today, closed at a premium of 70.27% at the National Stock Exchange (NSE).Maytas Infra issued the shares at a price of Rs 370 as against the price band of Rs 320 to Rs 370 a share of face value of Rs 10.

JM Financial Consultants and DSP Merrill Lynch helped the company manage this issue.Shares closed at Rs 630, at a premium of Rs 260, compared with the issue price of Rs 370 a share. It touched a high of Rs 642, and a low of Rs 515, after opening at Rs 515.75.

Total volume of shares traded was 13,508,756 at the NSE.Maytas Infra intends to deploy the issue proceeds in the development of Bangalore-Hosur elevated expressway, 300 MW coal-based KVK Nilachal power project in Orissa, 56 MW coal washery reject-based SV power plants and 2.5 million MT per annum coal washery at Korba in Chhattisgarh.



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