RBI Credit policy

In a somewhat more hawkish stance compared to June last, the half-yearly monetary policy review of the Reserve Bank of India has kept the policy rates unchanged. It did not announced any changed in the repo and reverse repo rates. The banks rates have also been kept unchanged at 6%. The CRR is up by 50 basis points to 7.5 %. RBI keeps the GDP forecasts unchanged at 8.5%. The inflation target for FY08 stand at 5%.

Emphasising, on the need to manage capital inflows, the Bank said .surplus liquidity needs to be handled as priority.RBI Governor, Dr YVR Reddy clearly underlined the threat to inflation from external inflows. It further said that the money supply is expanding at 17-17.5%. The policy has taken a special note of the irregularities in banks’ real estate exposure.. Dr Reddy expressed concerns on excessive lending to real estate sector. Some highlights: Gross domestic product growth forecast for 2007-08 maintained at 8.5 per cent, assuming no further escalation in crude oil prices and barring domestic or external shocks.

Inflation target for FY08 maintained at 5.0 per cent while resolving to condition expectations in 4.0-4.5 per cent range, with a medium-term objective of 3.0 per cent. Moderate net capital flows so that money supply is not persistently out of alignment with indicative projection of 17.0-17.5 per cent. Covering of ‘Short-sale’ and ‘When Issued’ transactions to be permitted outside the Negotiated Dealing System – Order Matching system. Non-deposit taking NBFCs to be considered ‘qualified entities’ for accessing the NDS-OM using the constituents’ Subsidiary General Ledger route. Reinstatement of the eligible limits under the past performance route for hedging facility to be permitted.

Oil companies permitted to hedge foreign exchange exposures by using overseas over-the-counter/ exchange traded derivatives up to a maximum of one year forward. Importers and exporters having foreign currency exposures allowed to write covered call and put options in both foreign currency/ rupee and cross currency and receive premia. Deposit rate ahead of the 4.9 lakh crore target for FY08. Currency markets see a tentative return to normalcy. The RBI also withdrew the ceiling of Rs 3,000 crore on daily reverse repo under the LAF from August 6, 2007.

Market Reacts after the policy announcements: Though it is a non-event for the equity markets , the Sensex lost 100 points soon after the policy announcements, while the NSE Nifty traded flat. Bond markets too be negatively impacted by the hike in CRR. Experts speak on RBI’s monetary policy review: : The policy this time is a measure to manage liquidity in the system. The recent reduction in the interest rates by some banks will finally stop and we expect the rates to stay where they are for some more time due to hike in the CRR, Says Chanda Kochar, executive director, ICICI Bank. Expects some easing in retail rates: HDFC Bank.

Highlights/ Key takeaways from RBI's credit Policy announcement:

CRR Hiked To 7.5% By 50 Bps

Repo, Reverse Repo, Bank Rate Rates Left Unchanged

RBI Ready To Take Steps Given Global Uncertainties & Unconventional Policy Responses To Developments

GDP Growth Target Unchanged At 8.5%

Inflation Target Maintained At 5%

Reiterates Resolve To Lower Inflation To 4-4.5%, Going Forward

Medium Target for inflation rate is 3%

Money Supply Target Retained at 17-17.5%

Credit growth has slipped to projected level of 24-25%;

Need to moderate expansionary effects of capital flows so that money supply doesn't exceed target

RBI Retains Option To conduct overnight or Longer term Repos

Biggest Challenge For RBI is excess money supply due of Capital Flows

Inflation Expectations Well-Anchored

Risk To Inflation From Liquidity Infusion By global Central Banks

Risks Inflation Also From Crude and Chinese Demand

Risks to Inflation to Dominate Policy in the Next 12-18 months

Inflation risks From Oil Prices remain Incipient

Asset Prices High, But Some Evidence Of Stable Real Estate Prices

Recent Events in Financial Markets show concern for fincl stability can assume overriding Importance

Agriculture Growing Above Trend, Industry & Services Shows slight slackening

Another Oil Price hike seems Reasonable

Fiscal Consolidation Under Strain on High Interest Payments & Subsidies

Revenue Deficit For Apr-Aug at 123% of estimates vs 94% year ago

H1 Current A/C Deficit Expected to Have Been Contained At Year Ago Level

Non competitive bidding for state loans to be permitted by March 2008

State govts may prepay Power bonds from April 2008 onwards

New system of valuing and issuing floating rate bonds by Mach 2008

Committed to Allowing Repos in Corp Bonds, when safe settlement, DvP is in place

Permits short sale & When Issued Deals Outside of NDS-OM System

Non Deposit Taking NBFCs can access NDS-OM through CSGL Route

Oil Cos Can Hedge 50% of their Inventory using OTC Derivative products

Importers, exporters may write covered call and put options

Importers, Exporters may write in rupee & cross currency and receive premia

Banks permitted to Run Cross Currency Options Books; Subject to RBI Nod

Banks permitted to offer American options

Final Guidelines for Banking Holding Cos to be Issued By End –Nov

Final Guidelines on Credit Default Swaps To Be Issued By End Nov

May Bank Errant Banks from engaging recovery Agents; Ban Likely On Banks against which Court's Have Issued Penalties .....


Other related stories:

RBI move aimed at curbing excess liquidity: FM

CRR hike to absorb Rs 16K cr excess liquidity in system: Y V Reddy

RBI blocks rupee near 9-½ yr peak

RBI hikes CRR to 7.5%; other key rates unchanged

Mkt ends in red amid volatility post new credit policy

How experts review the Credit Policy

CRR hike to discourage slacken interest rates

FM supports RBI move on CRR hike

RBI cautions on high oil, food prices

Brokers`Outlook: Market to open flat tomorrow

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Results: SAIL, DLF, Unitech etc

SAIL net rises 18% in Q2
Steel Authority of India announced a 17.84% jump in net profit at Rs 17,002.40 million for the quarter ended September 2007, as compared to Rs 14,428.10 million for the quarter ended September 2006.

Steel Authority of India's net profit jumped 17.84 per cent to Rs 1,700.24 crore for the quarter ended September 2007 compared with Rs 1,442.81 crore in the same quarter previous year.

DLF Q2 FY08 net profit up at Rs 2018 cr
DLF in Q2 FY08 has reported net profit of Rs 2018 crore versus Rs 1515.48 cr on QoQ basis. During the corresponding quarters, its net sales were up at Rs 3250 crore versus Rs 3073.78 crore.

ONGC net up 22.13% in Sep`07 qtr

Oil & Natural Gas Corporation (ONGC), India`s second largest company by market capitalisation registered a robust 22.13% growth in net profit to Rs 50,974.80 million for the quarter ended September 2007 as compared with Rs 41,739.80 million for the corresponding quarter last fiscal.Net sales for the quarter rose 9.56% to Rs 154,139.20 million as against Rs 140,685.50 million for the same quarter a year ago.
Total income for the quarter rose 10.76% to Rs 166,238.90 million as compared with Rs 150,082.60 million for the corresponding quarter previous year.
The basic and diluted earnings per share (EPS) after extra ordinary items, of the company stood at Rs 23.83 in the quarter ended September 2007.
Unitech Q2 net soars 298% at Rs 410 cr30 Oct, 2007, 1804 hrs IST
Unitech's profit after tax jumped 298 per cent at Rs 410.12 crore for the quarter ended September 30.

Nestle net up 39.86% in Sep`07 qtr
Nestle India registered a robust 39.86% growth in net profit to Rs 1,160.60 million for the quarter ended September 2007 as compared with Rs 829.80 million for the corresponding quarter last year.
Net sales for the quarter rose 25.47% to Rs 9,067.40 million from Rs 7,226.60 million for the same quarter a year ago.
Total income for the quarter rose 25.44% to Rs 9,124.00 million as against Rs 7,273.30 million for the corresponding quarter previous year.
The earnings per share (EPS) of the company stood at Rs 12.04 in the quarter ended September 2007.

CEAT Q2 earnings jumps 6.6 times
CEAT, the flagship company of the Rs 115 billion RPG Group and one of India`s leading tyre manufacturers, reported a vastly improved performance in quarter ended September 07. The net profit for the quarter stood at Rs 255 million up by about 6.6 times compared with Rs 38.3 million in the same period last year.The company`s gross sale for the quarter stood at Rs 6,490 million up by 8% as against Rs 6,020 million in the same period last year. EBITDA margin to net sales nearly doubled to 10.7%. Exports also grew by 31% in the second quarter over the same quarter in the previous year.

Indo Rama Synthetics Q2 net climbs 35.17%
Indo Rama Synthetics (India) registered a substantial growth of 35.17% in net profit for the quarter ended September 2007, helped by robust sales growth.During the quarter, the company saw a rise in net profit to Rs 118 million from Rs 87.3 million in the same quarter of the previous year. Earnings per share for the quarter climbed 36.36% to Rs 0.9 compared with a year ago period.Net sales for the quarter jumped 70.31% to Rs 6,693.60 million, while total income for the quarter climbed 68.85% to Rs 6,742.40 million, when compared with the corresponding quarter, a year ago.

Maharashtra Seamless` net down 6.47% for Sep`07 qtr

Tata Chemicals Q2 consolidated net climbs 12.23% 30
India`s leading manufacturer of inorganic chemicals, fertilizers and food additives, Tata Chemicals (TCL) registered a growth of 12.23% in consolidated net profit for the quarter ended September 2007. During the quarter, the company saw a rise in consolidated net profit to Rs 2,082.20 million from Rs 1,855.30 million in the same quarter of the previous year. Consolidated total revenue for the quarter climbed 6.93% to Rs 17,776.90 million compared with a year ago period.

Alstom Projects net down 22.68% in Sep`07 qtr
the quarter ended September 2007, as against Rs 313.00 million for the same quarter, a year ago.Net sales rose 48.71% to Rs 3,981.00 million in the quarter, from Rs 2,677.00 million for the same quarter, last year.

Crompton Greaves consolidated net at Rs 909.40 mn
On consolidated basis, Crompton Greaves (Q, N,C,F)* reported a net profit after tax, minority interest and share of profit of associates companies of Rs 909.40 million for the quarter ended Sep. 30, 2007. Total Income is Rs 16,742.30 million for the quarter ended Sep. 30, 2007.

On standalone basis, the company announced a substantial jump of 82.46% in the net profit during the quarter ended September 2007. The company posted a net profit after tax of Rs 741.90 million for the quarter ended Sep. 30, 2007 as compared with Rs 406.60 million for the quarter ended Sep. 30, 2006. Total Income increased by 21.31% to Rs 10,110.30 million, for the quarter ended Sep. 30, 2007 from Rs 8,334.00 million for the quarter ended Sep. 30, 2006.

Torrent Pharma (consolidated) net up 15% in Q2

Parsvnath Dev doubles to Rs 1 bn for Sep`07 qtr
Delhi-based real estate major Parsvnath (Q, N,C,F)* Developers posted a phenomenal 2.05 times growth in net profit to Rs 1,007.38 million, for the quarter ended September 2007 as compared with Rs 489.26 million for the same quarter last year.
Total Income increased 39% to Rs 4,077.20 million for the quarter ended September 2007 from Rs 2,933.38 million for the quarter ended September 2006.
Consolidated Results
The company on consolidated basis posted net profit of Rs 1027.73 million, on total income of Rs 4,127.07 for the quarter ended Sep. 30, 2007.

Sical Logistics net up 54% in Q2

Sical Logistics announced a 53.76% jump in net profit to Rs 94.10 million for the quarter ended September 2007, as compared to Rs 61.20 million for the same quarter last year.
Net sales dropped 4.9% to Rs 2,334.60 million, as compared to Rs 2,454.90 million a year ago.
Total Income rose to Rs 2,489.80 million for the quarter ended September 2007 ,where as the same was at Rs 2,485.60 million for the quarter ended September 2006.

IOC net up 25.16% in Sep` 07 qtr

Praj Industries net rises 55% in Q2
Praj Industries announced a 54.83% rise in net profit to Rs 270.92 million for the quarter ended September 2007, as compared to Rs 174.98 million for the quarter ended September 2006. Net sales rose 15.32% to Rs 1,702.98 million as compared to Rs 1,476.72 million a year ago.Total Income rose to Rs 1,817.33 million for the quarter ended September 2007 where as the same was at Rs 1,487.64 million for the same quarter of the previous year.

Take Solutions net at Rs 53.67 mn in Sep`07 qtr

Shaw Wallace net up 8.58 times in Sep`07 qtr
Shaw Wallace & Company registered 8.58 times growth in net profit to Rs 63.50 million for the quarter ended September 2007, as against Rs 7.40 million for the same quarter, a year ago.Net sales rose 13.09% to Rs 463.00 million in the quarter, from Rs 409.40 million for the same quarter, last year.Total income rose 20.42% to Rs 511.80 million for the quarter ended September 2007, from Rs 425.00 million in the same quarter of previous

ABG Shipyard net up 26% in Q2
ABG Shipyard announced a 26% rise in net profit to Rs 341.07 million for the quarter ended September 2007, as compared to Rs 270.72 million for the same quarter ended last year.Total Income rose 26.06% to Rs 2,119.72 million for the quarter ended September 2007, where as the same was at Rs 1,681.44 million for the quarter ended September 2006.

PVR net rises 86% in Sep`07 qtr
PVR Cinemas announced a 86.01% rise in net profit to Rs 62.50 million for the quarter ended September 2007 as compared to Rs 33.60 million for the quarter ended September 2006. Total Income rose 41% to Rs 639.40 million for the quarter ended September 2007 where as the same was at Rs 453.50 million for the quarter ended September 2006

Adlabs net flat at Rs 203.01 mn in Sep`07 qtr
ADAG-controlled Adlabs Films (Q, N,C,F)* recorded almost flat net profit of Rs 203.01 million for the quarter ended September 2007 as compared to Rs 204.64 million for the same quarter last year. Net sales for the quarter jumped 2.52 times to Rs 1,264.23 million as compared with Rs 500.84 million for the quarter ended September 2006. Total Income also surged 2.65 times to Rs 1,580.37 million for the quarter ended September 2007 from Rs 595.97 million for the quarter ended September 2006.

ICRA (consolidated) net soars 2.60 times in Sep`07 qtr
Credit rating agency ICRA`s (Q, N,C,F)* consolidated net profit soared 2.60 times to Rs 81.58 million for the quarter ended Sep. 30, 2007 as compared with Rs. 31.30 million for the corresponding quarter of the previous fiscal. ICRA consolidated total income for the quarter ended Sep. 30, 2007 was Rs 282.20 million as against Rs. 167.10 million in the corresponding quarter of the previous fiscal, reflecting growth of 69%.

Mphasis net jumps 2.73 times in Sep`07 qtr

Empire Industries` net climbs 44.30% in Sep`07 qtr


Tata Power Q2 earnings climbs 27.24%
Tata Power, a part of Tata Group and India`s largest private sector power utility registered a growth of 27.24% in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 2,574.30 million from Rs 2,023.20 million in the same quarter of the previous year. The company posted diluted earnings per share of Rs 11.66 in quarter ended September 07.Net sales for the quarter rose 12.47% to Rs 13,505.60 million, while total income for the quarter climbed 15.86% to Rs 14,820 million, when compared with the corresponding quarter, a year ago.




Man Inds Q2 net profit up at Rs 18.9 cr
30th-Oct-2007
Man Industries in Q2 has posted net profit of Rs 18.9 cr versus Rs 14.8 cr, up 28% on YoY basis. During the corresponding quarters, its total income was up 21% at Rs 354.7 cr versus Rs 292.6 cr.


Unitech Q2 net profit up at Rs 410.12 cr
30th-Oct-2007
Unitech in Q2 FY08 has reported net profit of Rs 410.12 cr, up 12.15% versus Rs 365.67 crore in the previous quarter. During the corresponding quarters, its net revenues were at Rs 101348 crore versus Rs 865.59 crore, up 17.08% on QoQ basis.


GHCL Q2 net profit at Rs 25.4 cr
30th-Oct-2007
Gujarat Heavy Chemicals, GHCL has come out with second quarter numbers. It has posted net profit of Rs 25.4 crore and net sales of Rs 230 crore.

Crompton Greaves Q2 net profit at Rs 74.2 cr
30th-Oct-2007
Crompton Greaves has announced its second quarter numbers. It has posted net profit of Rs 74.2 crore and total income of Rs 1,011 crore for the quarter ended September 2007.


Kesoram Industries Q2 net profit at Rs 89.4 cr
30th-Oct-2007
Kesoram Industries has declared its second quarter numbers. It has posted net profit of Rs 89.4 crore for the quarter ended September 2007 as against Rs 56.8 crore in same quarter of last year.


Parsvnath Q2 net profit at Rs 102.7 cr
30th-Oct-2007
Parsvnath Developers has come out with second quarter numbers. It has posted net profit of Rs 102.7 crore for the quarter ended September 2007 as against Rs 102 crore in previous quarter.


Apar Industries Q2 net profit at Rs 42 cr
30th-Oct-2007
Apar Industries has announced its second quarter numbers. It has posted net profit of Rs 42 crore for the quarter ended September 2007 as against Rs 12 crore in same quarter of last year.


Bartronics Q2 net profit up at Rs 4.16 cr
30th-Oct-2007
Bartronics in Q2 FY08 has posted net profit of Rs 4.16 cr versus Rs 3.26 cr in the same quarter previous year. During the corresponding quarter, its net sales were up at Rs 29 crore versus Rs 16 crore.


Graphite India Q2 net profit up at Rs 37.95 cr
30th-Oct-2007

Graphite India in Q2 FY08 reported net profit of Rs 37.95 cr versus Rs 27.43 cr, YoY basis. During the corresponding quarters, its net sales were up at Rs 265 crore versus Rs 216 cr. Its Q2 FY08 OPM stood at Rs 19.4% versus 18.3%, YoY.



Gallantt Metal Q2 net profit at Rs 5.75 cr
30th-Oct-2007
Gallantt Metal has announced its second quarter numbers. Its net profit jumped to Rs 5.75 crore for the quarter ended September 2007 as against Rs 2.25 crore in corresponding quarter of last year.



Consolidated Const Q2 net profit at Rs 30.3 cr
30th-Oct-2007
onsolidated Construction has come out with second quarter earnings. It has posted net profit of Rs 30.3 crore in Q2FY08 compared to Rs 19.1 crore in previous quarter.


SEL Mfg Q2 net profit at Rs 18.8 cr
30th-Oct-2007
SEL Manufacturing has come out with second quarter numbers. It has posted net profit of Rs 18.8 crore for the quarter ended September 2007 as against Rs 10.3 crore in same quarter of previous year.

JP Hydro Q2 net profit at Rs 127 cr
30th-Oct-2007
Jaiprakash Hydro has declared its second quarter earnings. Its Q2 reported net profit increased to Rs 127 crore from Rs 62 crore. Net profit before exceptionals also jumped to Rs 73 crore from Rs 62 crore.


Parsvnath Q2 net jumps two-fold at Rs 101 cr
The total income also surged by 39 per cent at Rs 407.72 crore for the second quarter as against Rs 293.34 crore for the corresponding period a year ago.


Crompton Greaves Q2 net profit up 82% 30 Oct, 2007, 1530 hrs IST
Crompton Greaves' July-September net profit rose 82 per cent to Rs 74.19 crore compared with Rs 40.66 crore for the same quarter of previous year.

EIH H1 net up two-fold at Rs 79.45 cr 30 Oct, 2007, 1731 hrs IST
Oberoi group co EIH Ltd reported a net profit of Rs 79.45 crore for half financial year ending September 30.


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Sensex snaps winning streak, loses 194

Sensex snaps winning streak, loses 194


Amid volatile trades, the benchmark indices Sensex and the Nifty raced to new all-time highs today. However, the market found the going rather tough after the Reserve Bank of India hiked CRR by 50 basis points. As participants began to book profits, stock prices tumbled to lower levels and despite managing a few rallies now and then, the premier indices snapped their winning streak and settled down in the negative terrain today.
The Reserve Bank of India, which released its monetary policy review today, left bank, repo and reverse repo rates unchanged while hiking the Cash Reserve Ratio by 50 basis points.
Auto stocks were among the worst hit in the sell-off that saw the Sensex plunging to a low of 19,694.85, a massive drop of around 543 points from its new all-time high. Shares from banking, oil and FMCG sectors too felt the heat. Information technology and healthcare stocks had a tough outing as well.
Capital goods, metal and realty stocks fared well. Though several stocks encountered resistance at higher levels and pared their gains, the indices tracking the performance of these sectors, ended in the positive side, gaining 0.8%, 0.65% and 2.36% respectively.
While the Sensex, which hit a new high at 20,238.16, ended the session with a big loss of 0.97% or 194.16 points at 19,783.51, the Nifty settled at 5868.75, more than 100 points down from a high of 5976, netting a loss of 0.63% or 37.15 points. In intra-day trades today, the Nifty touched a low of 5833.90.
Maruti Suzuki embarked on a long trip down south today. Due to sustained selling at the counter, the stock slipped to a low of Rs 1075 before settling at Rs 1087.95, netting a big loss of 8.45%. Mahindra & Mahindra (down 7%) and Tata Motors (down 4.9%) also closed with sharp losses. Bajaj Auto, which fared a lot better, ended lower by around 0.6%.
State Bank of India eased by around 2.6% to Rs 2062.20. HDFC lost a little over 2%. Reliance Industries (down 2%), Grasim Industries (down 1.95%), Ranbaxy Laboratories (down 1.9%), Tata Consultancy Services (down 1.85%), Cipla (down 1.7%), ONGC (down 1.5%), ITC (1.5%), ACC (down 1.25%), HDFC Bank (down 1.25%) and Reliance Communications (down 1.1%) also closed with marked losses.
ICICI Bank, which spurted to a high of Rs 1293 in intra-day trades, ended at Rs 1240.25 with a loss of 0.7%. Satyam Computer Services, Hindalco, Bajaj Auto, Infosys Technologies, Hindustan Unilever and Tata Steel also ended weak.
Wipro, Ambuja Cements, Dr. Reddy's Laboratories and NTPC closed almost unchanged from their previous closing levels. Bharti Airtel gained around half a per cent. BHEL (1.65%), Larsen & Toubro (1.1%) and Reliance Energy (3.95%) had another profitable outing.
SAIL, Punjab National Bank, VSNL, Hero Honda, BPCL, Nalco, Zee Entertainment, MTNL and Suzlon Energy closed with sharp losses.
Sterlite Industries, which vaulted to a high of Rs 1084.70, ended with a gain of 6.8% at Rs 1020.50. Reliance Petroleum gained 5.3%. Tata Power and Sun Pharmaceuticals also closed on a firm note.
ABB, AIA Engineering, Greaves Cotton, Jyoti Structures and Siemens were the prominent gainers from the capital goods space.
Among realty stocks, DLF surged 5.8%. Anant Raj Industries posted a gain of 5.25%. Ansal Infrastructure, Unitech, India Bulls Real Estate and Puravankara Projects also posted impressive gains.
At Rs 24,636.21 crore, the turnover on the National Stock Exchange was the highest since 18 October 2007. On that day, the exchange had recorded a turnover of Rs 26,030.25 crore.
As participants chose to book profits in several large, medium and small cap stocks, the market breadth turned weak today. When trade ended, out of 2822 stocks that were seen in action on BSE, 1666 stocks had slipped into the red. 1087 stocks closed on a winning note and 69 stocks settled at their previous closing levels.



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Headlines from ET,MC,Myiris and others

Khattar to retire as Maruti MD in December
Torrent Power Q2 net rises two-fold
Maruti to invest $1.8 bn in R&D, marketing
J&K Bank seeks foreign partner for 49pc stake in broking unit
Titan hopes to sell 10 million watches in FY08

Prakash Industries to set up Rs 4500 crore power plan in Madhya Pradesh
BorgWarner plans unit near Chennai
Tatas to decide on 4.5 mn ton Vietnam steel plant after study
Steel investments to touch Rs 3 lakh cr
Tatas yet to decide on Vietnam steel plant

Economy growth nears 9 pc, infrastructure lags
IVRCL Infra bags order worth Rs 346 cr order
VSNL to showcase retail WiMax services in Bangalore
Raining IPOs on Dalal Street

Stocks to buy: Asian Paints, Suzlon, Finolex
Hot Stocks Platter: Godrej, Religare Enterprises , Suajana Towers and Gujarat Gas
An eye on the future: Religare Enterprises
Religare IPO subscribed 6 times


Men's apparel market to grow to $13-14 bn by 2009
Hinduja looking at majority stake in ONGC project
Bihar Tubes in pipes JV with Japan's Kusakabe
News Corp. and NBC launch online video site 'Hulu' as YouTube alternative
Dubai's DP World to invest $500 mn in India

Siscol, JSW Steel boards okay merger
Sona Koyo in JV with US-based AAM International

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

RBI policy detrimental for market: Vishwas Agarwal
ICRA assigns IPO Grade 3 to Religare
Will RBI maintain Status Quo on key rates?
Emkay assigns `Buy` on Corporation Bank
Emkay retains `Buy` on Marico
Lakshmi Machine Q2 net up 29.95%
Ispat Industries enters into MoU with M P Trade & Investment

Centre to introduce `GUTS Bill`
Kalyani Forge net down 63.32% in Sep`07 qtr
Ashok Leyland inks contract with Nissan
Dr Reddy`s to tie-up with US retail chains for OTC drugs
Steel sector emerges as a key investment destination

--------------------------------------------------------------
MoneyControl.Com

India requires USD 500bn for infrastructure projects
Info Edge reports 326% rise in net profit to Rs 151.42mn
Allied Digital reports topline gwth of 158%, PAT up by 134%
Ramsarup Industries PAT takes quantum leap by 80%
Avaya GlobalConnect net profit stands at Rs 47.62cr

Nifty likely to touch 6000 levels in near-term: Brics Sec
BHEL Q2 net profit up 91% to Rs 688 cr
Lanco Infratech enjoys strong order book worth Rs 7,600 cr
JP Morgan to launch $1.5 bn infra fund

FY08 FDI target at $30 bn: Commerce Min
Calsoft records rapid growth in profits
Rs 7,000 cr order book executable over 2 yrs: Simplex Infra
Order book stands at Rs 2,400 cr: Jyoti Structures
Simplex Infra Q2 net profit up at Rs 19.1 cr


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Macro highlights before RBI reviews Mid-Term Policy

The Reserve Bank of India today released the document `Macroeconomic and Monetary Developments: Mid-Term Review 2007-08` to serve as a backdrop to the Mid-Term Review of the Annual Policy Statement for 2007-08, going to be announced on Oct. 30, 2007.

The highlights of macroeconomic and monetary developments during 2007-08 so far are:

The Real Economy

The Indian economy continued to maintain strong growth momentum during the first quarter of 2007-08, underpinned by sustained performances of the manufacturing and services sectors. According to the estimates released by the Central Statistical Organisation (CSO) in August 2007, real GDP growth was 9.3 % during the first quarter of 2007-08 as compared with 9.6 % during the same period in 2006-07.

The cumulative rainfall during the South-West monsoon season 2007 (June to September) was 5 % above normal as compared with one % below normal during the corresponding period of the previous year. The area coverage of kharif crops has increased during 2007-08 (as on October 12, 2007) with reported sown area of 104.7 % of the normal, which was about 3.1 % higher than the previous year.


During April-August 2007, the index of industrial production rose by 9.8 % as compared with a growth of 11.0 % recorded during the corresponding period of the previous year. The manufacturing sector registered a growth of 10.3 % during April-August 2007 on top of 12.2 % during April-August 2006.


During April-August 2007, the infrastructure sector recorded a growth of 6.6 % as compared with 8.3 % a year ago, with five of the six core infrastructure industries registering a deceleration. The electricity sector was the only sector which recorded a higher growth than a year ago.


For more: Macro highlights before RBI reviews `Mid-Term`policy

other RBI stories:

RBI liberalizes booking of Forward Contracts


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Mukesh Ambani elbows out Gates as richest

Five richest people in the world with their net worth 1. Mukesh Ambani ($63.2 billion) 2. Carlos Slim Helu ($62.2993 billion) 3. William (Bill) Gates ($62.29 billion) 4. Warren Buffett ($55.9 billion) 5. Lakshmi Mittal ($50.9 billion)


29 Oct, 2007, 1800 hrs IST, PTI, NEW DELHI: Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market. Following a strong share price rally on in his three group companie, India's most valued firm Reliance Industries, Reliance Petroleum and Reliance Industrial Infrastructure Ltd, the net worth of Mukesh Ambani rose to $63.2 billion (Rs 2,49,108 crore). In comparison, the net worth of both Gates and Slim is estimated to be slightly lower at around $62.29 billion each, with Slim leading among the two by a narrow margin.

Warren Buffett, earlier the third richest in the world, also dropped one position with a net worth of about $56 billion. Ambani's wealth of about Rs 2,49,000 crore includes about Rs 2,10,000 crore from RIL (50.98 per cent stake), Rs 37,500 crore from RPL (37.5 per cent) and Rs 2,100 crore from RIIL (46.23 per cent). Slim's wealth has been calculated on the basis of his stake in companies like America Movil (30 per cent), Carso Global (82 per cent), Grupo Carso (75 per cent), Inbursa (67 per cent), IDEAL (30 per cent) and Saks Inc (10 per cent). According to information available with the US and Mexican stock exchanges where these companies are listed, Slim currently holds shares worth a total of $62.2993 billion, with more than half coming from Latin American mobile major America Movil. Slim is closely followed by Gates with a net worth of $62.29 billion currently.

Earlier last month, US business magazine Forbes had named Gates as the richest American with a net worth of $59 billion, calculated as on August 30. The magazine had said that a movement of two dollars in the share price for Microsoft, the world's biggest software maker, could "add or subtract a billion dollars" from his wealth.

Since August-end, Microsoft's share price has risen by $6.58 (based on yesterday's closing on Nasdaq at $35.03), which results into a gain of $3.29 billion in Gates' wealth based on Forbes assumption. Besides a stake in Microsoft, Gates' wealth also includes the commission and license fees earned by him and gains through his shares in an investment holding company that invests across the market. Gates is followed by Buffett at the fourth place in the league of the world's richest with a net worth of $55.9 billion through his holding in his investment vehicle Berkshire Hathaway and in other companies.

At the end of August, Buffett's wealth stood at $52 billion, as per the Forbes magazine. Berkshire Hathaway's share price has gained by about 7.5 per cent since then. Earlier on September 26, Ambani had overtaken steel czar Lakshmi Mittal to become the richest Indian in the world. Mittal currently ranks as the fifth richest in the world with a net worth of $50.9 billion through his 44.79 per cent stake in world's biggest steel maker ArcelorMittal. While most of Mittal's wealth comes from his steel empire, though he has also spread his wings into businesses like oil and real estate, those of Ambani and Gates are mostly through petrochemicals and software respectively. However, Buffett and Slim are making money from investments across a host of sectors


Ambanis 1st to hit $100-bn mark on wealth street

Mukesh Ambani Group m-cap crosses Rs 5 tn mark


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Results on Tuesday: 30th October

Results Calender

Aarti Drugs 30-Oct-07

Aarvee Denim 30-Oct-07

Adhunik Metalik 30-Oct-07

Ajanta Pharma 30-Oct-07

Alstom Projects 30-Oct-07

AP Paper Mills 30-Oct-07

Asian Electroni 30-Oct-07

Balaji Telefilm 30-Oct-07

Bell Ceramics 30-Oct-07

BL Kashyap 30-Oct-07

Bongaigaon Ref 30-Oct-07

Cambridge Sol 30-Oct-07

Centurion Bank 30-Oct-07

CenturyPlyboard 30-Oct-07

Chennai Petro 30-Oct-07

Crest Animation 30-Oct-07

Crompton Greave 30-Oct-07

DLF 30-Oct-07

Dolphin Offshor 30-Oct-07

Dynacons Sys 30-Oct-07

Dynamatic Tech 30-Oct-07

EIH 30-Oct-07

Emco 30-Oct-07

EngineersInd 30-Oct-07

Esab India 30-Oct-07

Everonn Systems 30-Oct-07


Heritage Foods 30-Oct-07

Hind Composites 30-Oct-07

Hind Org Chem 30-Oct-07

IFB Agro 30-Oct-07

Indo Rama Synth 30-Oct-07

Indo Tech Trans 30-Oct-07

IndraprasthaGas 30-Oct-07

Indus Fila 30-Oct-07

IOC 30-Oct-07

Ispat Industrie 30-Oct-07

Karnataka Bank 30-Oct-07

KEC Infrastruct 30-Oct-07

Kesoram 30-Oct-07

Khaitan 30-Oct-07


Mah Seamless 30-Oct-07

Meghmani Organi 30-Oct-07

Mirc Electronic 30-Oct-07

Murli 30-Oct-07

Nandan Exim 30-Oct-07

Nectar Life 30-Oct-07

Nestle 30-Oct-07

Numeric Powe 30-Oct-07

ONGC 30-Oct-07

Parsvnath 30-Oct-07

Pricol 30-Oct-07

Raj Television 30-Oct-07

RamkrishnaForge 30-Oct-07

Remsons Ind 30-Oct-07

Royal Orchid 30-Oct-07

SAIL 30-Oct-07

Sangam India 30-Oct-07

SBandT Int 30-Oct-07

Sesa Goa 30-Oct-07

Shreyas Shippin 30-Oct-07

Sterlite Optic 30-Oct-07

Stride Arcolab 30-Oct-07

Subros 30-Oct-07

Sundaram-Clayto 30-Oct-07

Suven Life Scie 30-Oct-07

Tata Chemicals 30-Oct-07

Tata Power 30-Oct-07

TataTeleservice 30-Oct-07

TIL 30-Oct-07

Timken 30-Oct-07

Torrent Pharma 30-Oct-07

Transport Corp 30-Oct-07

TTK Prestige 30-Oct-07

Unitech 30-Oct-07


Varun Shipping 30-Oct-07

Zenith Infotech 30-Oct-07


Zylog Systems 30-Oct-07



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Other Results: JSPL, IBReal, BOI etc

BHEL Q2 net profit up 91% to Rs 688 cr

BHEL has announced its second quarter numbers. It has posted 91.01% growth in its net profit of Rs 687.66 crore for the quarter ended September 2007 as against Rs 360.01 crore in same quarter of last year.

Jindal Steel Q2, net profit up 77%

Jindal Steel & Power Ltd's July-September net profit rose 77 per cent to Rs 277.47 crore compared with Rs 157.23 crore for the same quarter of previous year. Total income increased 60 per cent to Rs 1, 271.94 crore for the September quarter from Rs 792.90 crore for same period of the earlier year. On BSE, Jindal Steel shares were up 6 per cent at Rs 8,885.

Srei Infra Q2 net jumps 104 per cent Net profit of Srei Infrastructure Finance Ltd during the second quarter of the current financial year increased 104 per cent touching Rs 33.1 crore as compared to Rs 16.2 crore in the same corresponding period previous fiscal.

HUDCO H1 net soars three-fold at Rs 165 cr
State-run Housing & Urban Development Corporation Ltd (HUDCO) on Monday reported an over three-fold increase in its net profit at Rs 164.91 crore for the half year ended September 30, compared to Rs 46.99 crore for the same period last year.

Firstsource Q2 profit jumps 143 pc at Rs 45.6 cr
BPO service provider, Firstsource Solutions, has clocked a 143 per cent jump in its profit after tax (PAT) at Rs 45.6 crore in Q2 while revenue grew 62 per cent at Rs 296.5 crore in the same period.

Indiabulls Real Estate July-Sept net Rs 227.7 mn Indiabulls Real Estate Ltd on Monday posted a net profit of Rs 227.7 million for the July-September quarter, on a total income of Rs 373.4 million. This included other income of Rs 309 million. Comparable figures for the same period last year were not available.

Indian Overseas Bank Q2 net profit up 28% Indian Overseas Bank's net profit rose 28 per cent to Rs 319.70 crore for July-September compared with Rs 249.85 crore in the same quarter of the previous year. Total income increased 43 per cent to Rs 2104.78 crore in the September quarter 2007 from Rs 1468.53 year ago

Wire and Wireless posts Q2 net loss

Bank of India net jumps two fold in Q2

Bank of India, announced a two times jump in net profit at Rs 4,252.70 million for the quarter ended September 2007, as compared to Rs 2,121.30 million for the same quarter, last year.Total Income increased 34.17% to Rs 35,036.70 million for the quarter ended September 2007, from Rs 26,114.20 million for the quarter ended September 2006. The interest income rose to Rs 29,752.40 million in the quarter, from Rs 22,581.70 million in the same quarter, a year ago

HPCL Q2 net down 59.82%
Hindustan Petroleum Corporation (HPCL), the second largest integrated oil refining and marketing company in India, on a standalone basis posted a steep fall of 59.82% net profit to Rs 8,530.30 million, for the second quarter ended September 2007, as compared with Rs 12,219.80 million for the corresponding quarter, last fiscal.
Net sales for the quarter fell 0.54% to Rs 242,344.40 million, as against Rs 243,674.60 million in the same quarter, a year ago.

Ipca Labs Q2 net up 28.30%
Ipca Laboratories registered 28.30% growth in net profit to Rs 454.20 million for the quarter ended September 2007, as against Rs 354.00 million for the same quarter, a year ago.
Net sales rose 23.02% to Rs 3,001.10 million in the quarter, from Rs 2,439.50 million for the same quarter, last year.
Total income rose 22.89% to Rs 3,004.50 million for the quarter ended September 2007, from Rs 2,444.80 million in the same quarter of previous year.


Simplex Infra net jumps 2.70 times in Sep`07 qtr
Kolkata-based infrastructure development company, Simplex Infrastructures recorded a phenomenal 2.70 times jump in net profit to Rs 191 million for the quarter ended September 2007, as against Rs 70.60 million for the quarter ended September 2006.
Net sales for the quarter soared 60.29% to Rs 5,711.30 million, from Rs 3,563 million for the same quarter, last year.Total income also increased 61.54% to Rs 5,774.60 million in the quarter, from Rs 3,574.60 million for the quarter ended September 2006.

OBC Q2 net down 30%
Oriental Bank of Commerce (OBC) posted a 29.86% drop in net profit at Rs 1,750.00 million for the quarter ended September 2007, as against Rs 2,495.10 million for the corresponding quarter of the previous year.Total Income increased 24.17% to Rs 17,882.10 million for the quarter ended September 2007, from Rs 14,401.30 million for the quarter ended September 2006.

PNB net up 6.6% in Sep`07 qtr
Punjab National Bank (PNB) announced a 6.63% rise in net profit at Rs 5,384.80 million for the quarter ended September 2007, as compared to Rs 5,049.90 million for the quarter ended September 2006. Total Income rose increased 28.5% to Rs 39,308.90 million for the quarter ended September 2007, from Rs 30,483.20 million for the quarter ended September 2006.

Adani Enterprises consolidated net rises to Rs 426.40 mn
On consolidated basis, Adani Enterprises (Q, N,C,F)* posted a net profit of Rs 426.40 million for the quarter ended Sep 30, 2007. Total Revenue is Rs 43,892.30 million for the quarter ended Sep. 30, 2007.On standalone basis, the company reported a substantial jump of 67.23% in net profit to Rs 379.30 million for the quarter ended Sep. 30, 2007 as compared to Rs 226.80 million for the corresponding quarter last year.Total revenue increased 6.66% to Rs 25,699.30 million for the quarter ended Sep. 30, 2007 from Rs 24,093.50 million for the quarter ended Sep. 30, 2006.


Jet Airways swings to profit in Sep`07 qtr
Jet Airways India swung to profit for the quarter ended September 2007. The company on standalone basis posted a net profit of Rs 283.60 million, as compared with a loss of Rs 551.30 million in the corresponding quarter last fiscal.
Net sales of the company rose 12.60% to Rs 18,185.50 million, as against Rs 16,150.40 million, in the same quarter a year ago.
Total income for the quarter rose 23.77% to Rs 22,541.70 million , as against Rs 18,212.30 million in the corresponding quarter last year.

MICO Q3 net climbs 9.09%
Leading auto components manufacturer, Motor Industries (MICO) registered a marginal rise of 9.09% in net profit for the quarter ended September 2007, due to 157 basis points fall in operating margins together with marginal revenue growth. During the quarter, the company saw a rise in net profit to Rs 1,367.50 million from Rs 1,253.50 million in the same quarter of the previous year. Earnings per share for the quarter rose 9.21% to Rs 42.70 million, compared with a year ago period.


Sobha Developers net up 22.93% in Sep`07 qtr
Sobha Developers on a standalone basis posted a robust growth of 22.93% in net profit to Rs 561.81 million, for the quarter ended September 2007, as against Rs 457.00 million for the corresponding quarter last fiscal.Net sales for the quarter rose 9.34% to Rs 3,254.21 million as against Rs 2,976 million in the same quarter a year ago.
Total income for the quarter rose 11.56% to Rs 3,330 million as compared with Rs 2,985 million in the same quarter previous year.

Titan Industries net up 43.87% in Sep`07 qtr

Titan Industries registered a 43.87% growth in net profit to Rs 463.00 million for the quarter ended September 2007 as compared with Rs 321.80 million for the corresponding quarter last fiscal.
Net sales for the quarter rose 38.50% to Rs 7,251.10 million as compared with Rs 5,235.30 million for the same quarter a year ago.
Total income for the quarter rose 38.44% to Rs 7,255.20 million from Rs 5240.60 million for the corresponding quarter last year.

Tata Tea Q2 consolidated net falls 43.71%


MRPL Q2 net zooms 34.71 times
Mangalore Refinery & Petrochemicals (MRPL), a Mini Ratna category company and a subsidiary of ONGC reported a substantial growth of 34.71 times in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 3,317.40 million from Rs 92.90 million in the same quarter of the previous year. Total income for the quarter dropped marginally 4.85% to Rs 76,789.70 million, compared with the corresponding quarter, a year ago.

Nirma net up 80.81% in Sep`07 qtr

Nirma on standalone basis registered a robust growth of 80.81% in net profit to Rs 807.90 million for the quarter ended September 2007, as compared to Rs 446.80 million for the corresponding quarter last fiscal.
Net sales for the quarter declined 4.91% to Rs 4,984.30 million from Rs 5,241.70 million for the same quarter a year ago.


Gitanjali Gems April-Sept net at Rs 59.68 cr Jewellery manufacturer Gitanjali Gems Ltd reported on Monday a net profit of Rs 59.68 crore on net sales of Rs 1,250 crore in the six months to September 2007. Gitanjali Gems has announced its second quarter numbers. It has posted net profit of Rs 22.5 crore for the quarter ended September 2007 as against Rs 22 crore in same quarter of last year.


United Phosphorus swings to loss in Sep`07 qtr

Active Stock: Jagran Prakashan soars 11% on stock split news

R Systems net rises 19% in Q2

Shoppers Stop net drops to Rs 4.23 mn for Sep`07 qtr

HT Media net up 18.73% for Sep`07 qtr


Jagran Prakashan Q2 net profit at Rs 22 crore
Jagran Prakashan has declared its Q2 results. Its Q2 net profit was at 22 crore versus Rs 17.5 crore.


Karur Vysya Bank Q2 net profit at Rs 43.4 cr
29th-Oct-2007
Karur Vysya Bank has announced its second quarter numbers. It has posted net profit of Rs 43.4 crore for the quarter ended September 2007 as against Rs 42.5 crore in previous quarter.


JM Fin Q2 net profit up at Rs 44.8 cr
JM Financial in Q2 FY08 has registered consolidated net profit of Rs 44.8 crore versus Rs 15.9 crore on YoY basis.


Dhanalakshmi Bank Q2 net profit at Rs 7.5 cr
29th-Oct-2007
Dhanalakshmi Bank has announced its second quarter numbers. It has posted net profit of Rs 7.5 crore for tthe quarter ended September 2007 and total income of Rs 87.6 crore.


Sundram Fasteners Q2 net profit at Rs 20.6 cr
29th-Oct-2007
Sundram Fasteners has announced its second quarter numbers. It has posetd standalone net profit of Rs 20.6 crore for the quarter ended September 2007 as against Rs 25.4 crore in same quarter of last year.


Vishal Retail H1 net profit at Rs 14.7 cr
29th-Oct-2007
Vishal Retail has announced its second quarter numbers. For the half period ended September 2008, it has posted net profit of Rs 14.7 crore and total income of Rs 388 crore.



Nucleus Software Q2 net profit at Rs 16.2 cr
29th-Oct-2007
Nucleus Software has come out with second quarter numbers. It has posted consolidated net profit of Rs 16.2 crore for the quarter ended September 2007 as against Rs 14 crore in previous quarter.



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Results: BHEL, MnM, HDFC, Sterlite, Maruti etc

BHEL net jumps 91.01% in Sep`07 qtr
BHEL Q2 net profit up 91% to Rs 688 cr


Bharat Heavy Electricals (BHEL) on a standalone basis registered a stupendous growth of 91.01% in net profit to Rs 6,876.60 million for the quarter ended September 2007, as against Rs 3600.10 million for the corresponding quarter last fiscal.
Net sales for the quarter rose 18.68% to Rs 39,653.60 million as against with Rs 33,411.50 million for the same quarter a year ago.
Total income for the quarter rose 27.20% to Rs 44,662.50 million as compared with Rs 35,110.40 million for the corresponding quarter last year.
The earnings per share (EPS) of the company stood at Rs 14.05 in the quarter ended September 2007.


HDFC net up 75.63% in Sep`07 qtr


Housing Development Finance Corporation (HDFC), India`s first and largest mortgage finance company on standalone basis registered a 75.63% growth in net profit to Rs 6,463.90 million for the quarter ended September 2007, as compared with Rs 3,680.20 million for the corresponding quarter last fiscal.
Net sales for the quarter rose 30.53% to Rs 18,886.00 million as against Rs 14,467.90 million for the same quarter a year ago.
Total income for the quarter rose 29.94% to Rs 18,925.00 million, from Rs 14,563.30 million for the corresponding quarter last year.
The earnings per share (EPS) of the company stood at Rs 22.83 in the quarter ended September 2007.


Sterlite Industries (consolidated) net up 1.1% in Q2

Sterlite Industries on a consolidated basis posted a 1.1% rise in net profit of Rs 10,827.40 million for the quarter ended September 2007, as compared to Rs 10,710.00 million, for the same quarter of the previous year. Total Income rose marginally by 0.90% to Rs 68,904.20 million for the quarter ended September 2007, where as the same was at Rs 68,292.50 million for the quarter ended September 2006.
The company also said that on account of sale of power transmission line division with effect from Jul. 1, 2006, figures for current period(s) are not strictly comparable to figures for the previous period.
On a standalone basis the company posted a 55.88% rise in net profit at Rs 2128.70 million for the quarter ended September 2007, where as the same was at Rs 1365.60 million, for the same quarter last year.

Highlights of the quarterUnder international competitive bidding (ICB), the company bagged orders worth Rs 29 billion for the supply and installation of the main plant package at the upcoming Jhajjar Super Thermal Power Project in Haryana, involving three units of 500 MW each. The orders have been placed on BHEL by Aravali Power (APCPL), a joint venture company of NTPC, IPGPL and HPGCL. Significantly, this is the highest value boiler and turbine generator (BTG) package contract for a single project ever received by BHEL.Shares of the company closed up Rs 180.35, or 7.42% to settle at Rs 2612.1. The total volume of shares traded at the BSE was 405,033. (Monday).

M&M net dips 26% for Sep`07 qtr
Mahindra & Mahindra (M&M), a leading maker of utility vehicles, posted a 26.01% decline in net profit at Rs 2,859.47 million for the quarter ended September 2007 as compared to Rs 3,864.77 million for the same quarter, last year.
However, on a quarter-on-quarter basis, the company recorded a 49.57% increase in net profit compared with Rs 1,911.70 million for the previous quarter ended June 2007.
Net sales for the quarter rose 12.52% to Rs 28,023.95 million as compared with Rs 24,905.01 million for the quarter ended September 2006.
Total Income increased 12.02% to Rs 28,715.49 million for the quarter ended September 2007 from Rs 25,634.18 million for the quarter ended September 2006.
The diluted EPS, after extraordinary items, stood at Rs 10.69 for the quarter ended September 2007.

Maruti Suzuki Q2 net up 27%
Maruti Suzuki India posted a 26.96% jump in net profit at Rs 4,665.00 million for the quarter ended September 2007 as compared to Rs 3,674.40 million for the same quarter, last year.Total Income increased 33.75% to Rs 47,358.30 million for the quarter ended September 2007, from Rs 35,408.90 million for the quarter ended September 2006.
Net Sales for the quarter rose to Rs 45,473.70 million as compared to Rs 34,191.90 million, a year ago.
The diluted earnings per share of the company stood at Rs 16.15 in the current quarter.


J&K Bank net up 28.30% in Sep`07 qtr

Jammu & Kashmir (J&K) Bank registered 28.30% rise in net profit to Rs 1,078 million in the quarter ended September 2007 from Rs 840.20 million in the quarter ended September 2006. Interest income for the quarter rose 29.13%, to Rs 5,966.90 million from Rs 4,620.70 million for the quarter ended September 2006.
Total income also rose 30.31%, to Rs 6,547.70 million in the current quarter from Rs 5,024.60 million for the quarter ended September 2006

Thomas Cook (consolidated) net up 76% for nine-months ended Sep`07

Kanoria Chemicals net doubles for Sep`07 qtr
Kanoria Chemicals & Industries, manufacturer of chemical intermediates, recorded a phenomenal 2.27 times jump in net profit led by lower input costs and operational efficiencies. The net profit for the quarter ended September 2007 stood at Rs 109.01 million as against Rs 48.05 million in the quarter ended September 2006.Net sales for the quarter dipped 5.60% to Rs 1,035.59 million from Rs 1,096.99 million for the quarter ended September 2006

Thermax Q2 net up 97%
Thermax announced a 97.26% jump in net profit at Rs 692.00 million for the quarter ended September 2007, compared with Rs 350.80 million for the same quarter, last year. Net Sales rose 59.68% to Rs 7,701.00 million in the quarter, from Rs 4,822.90 million in the same quarter, a year ago. Total Income stood at Rs 7,809.60 million for the quarter ended September 2007, where as the same was at Rs 4,910.50 million for the same quarter last year.


Divis Labs net zooms 2.91 times for Sep`07 qtr
Divis Laboratories registered a substantial rise of 2.91 times in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 912.50 million from Rs 312.82 million in the same quarter of the previous year.

Total income grew 48.11% to Rs 2,440.50 million in the quarter as compared with Rs 1,647.73 million in the quarter ended Sep.30, 2006.

Unity Infraprojects net up 22% in Q2
Unity Infraprojects announced a 21.94% jump in net profit at Rs 108.36 million for the second quarter ended September 2007, compared with Rs 88.86 million for the corresponding quarter, last year. Net Sales rose 52.47% to Rs 1,529.40 million in the quarter, from Rs 1,003.11 million in the same quarter, a year ago.


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