Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

This blog is for providing daily news of Corporate Indian Stories, Corporate Results, Equities, MFs, Banking,Insurance, Brokerages Informations, World Business, Venture Capital, Angel Investors, BSchools, MBAs,Jobs, Politics & something Interesting.Our team will be grateful to the owners of various Indian/world/govt sites to refer their sites to get INFORMATION without objection.Request viewers to make verification about the information. Blog is not responsible for any faulty information.

22 January 2008

Results: Bk Of India, Grasim, Vijaya Bk etc

Lessons from January 2008: Udayan Mukherjee

Lessons from January 2008: Udayan Mukherjee

CNBC-TV18's Executive Editor, Udayan Mukherjee - The thing about life is that one makes mistakes. Many mistakes were made in the second half of 2007 and those sins have to be washed away by blood, such is the way of financial markets. Some participants will go down under and never be able to get back to the market again but most will survive. The pain will linger for many months, maybe years but lessons have to be learnt. Every such debacle has lessons for us and the sooner we forget them the more we suffer.

The first lesson is not to let stock price performance become the sole reason for buying, a mistake which was made in abundance in the last 3 months. What couldn't be explained by fundamentals was credited to liquidity. The present lost all relevance as people chose to focus on the distant future, perhaps simply because the present could never justify those ticker prices; only a hazy dream of the future could. Traders and investors had no time for fundamental analysts, in many cases they were labelled "cribbing fools". Chartists became the most celebrated tribe on the street as only they could see and predict the one way run to glory for many of the hot stocks even as fundamental watchers cringed at valuations....till the music stopped. Don't get me wrong, charts do work in trending markets but once stock prices veer away completely from fundamental value, people need to get careful. But they never are. Now that the blinkers are off, people should ask themselves why stocks like RNRL, Ispat, RPL, Essar oil and Nagarjuna fertilisers have lost 50-70% of their value. It is simply because their stock prices had snapped all connection with underlying business fundamentals, earnings and value. Their stock prices became the only reasons for buying them which works for a while but not forever.
The other big lesson, one which should have been driven in earlier in May 2006, is the danger of overextending oneself in the futures market. The lure of stock futures is easy to understand. Put in some margin, take a big exposure on a fast moving stock, make a killing when prices shoot up. Repeat exercise. Just that people forgot that prices may also come down and at a pace which noone can even imagine, maybe their friendly stockbrokers forgot to tell them that part of the story. The result : unbridled speculation that ran into lakhs of crores, excesses that we are paying for today. Even this fall will not cure investors of their love for futures speculation but if at least some amount of caution is injected it would have been a worthwhile learning. Futures are not toys for amateurs, they are time bombs in the hands of inexpert and inexperienced traders, it's only a matter of when the fuse runs out.

The other learning which I hope will play out in the future, as it has in the past, is that it pays to be brave in times of panic such as these. If I was allowed to invest myself , which I am not, I would have no hesitation in deploying serious money into the market today, knowing fully well that prices may fall more tomorrow. And I would be standing there tomorrow to buy more of the same, till my money ran out. India is going to be a terrific stock market story for many years to come, even an intermediate bearish patch cannot shake that conviction of mine. At best, one will have to wait a bit for the returns to follow. That's alright. You are happy to put money in a bank FD and then wait for one full year to collect that measly 8%, aren't you? Then why does the stock market need to give you 20% every month? In the last one year, I haven't seen so many good stocks trade at such mouth watering levels. Forget trading, avoid the duds which were fuelled up by operators, just go out and buy those bluechips. They will deliver, even if there is a global market meltdown for a while, and if you are a bit patient you will be rewarded. But do remember January 2008, as history will repeat itself again in the future. Just that our memories tend to be too short and our greed too much.
NOTE: This column was written at 2pm, even as the markets were trading.

Other MC stories:

Worst is almost over: Oppenhiemer
Stocks that have lost most from their peak
No need to worry, eco growing at 8.9%: FM
Mkts hit down circuit hit for the fourth time
Investors lost nearly Rs 4 lakh cr today
Finance Ministry soothes bankers

Source: Moneycontrol.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Fed cuts interest rate by 0.75%

Stock futures gyrate after Fed move
US stocks plunge on recession fears

Indian markets may open up on Fed cut

Fed cuts rates by 75 bps

WASHINGTON: The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely. The surprise reduction in the federal funds rate from 4.25 down to 3.5 per cent marked the biggest one-day rate move by the central bank since it cuts its discount rate by a full percentage point in December 1991, a period when the country was struggling to get out of a recession.

Analysts said the Fed will likely delay cutting rates further at its January 29-30 meeting but will probably keep moving rates down aggressively as the economy continues to weaken. "This move is not an instant fix," said Ian Shepherdson, chief US economist at High Frequency Economics. "The economy is still staring recession in the face, but at least the Fed now gets it." In addition to cutting the funds rate, the Fed said it was reducing its discount rate, the interest it charges to make direct loans to banks, by a similar three-quarters of a percentage point, pushing this rate down to 4 per cent.

Commercial banks responded to the Fed's action on the funds rate by announcing similar cuts of three-quarter of a percent on its prime lending rate, the benchmark for millions of business and consumer loans. The action will mean the prime lending rate will drop from 7.25 per cent down to 6.50 per cent.

Also Read
à
Market Analysts : It's time to look for value stocks
Sensex crash: Full coverage
Some reasons for Sensex fall on Monday
à
Insurers sniff a bargain, buy premium cos at a discount
In Pics: Sensex Fall
Sensex fall: What all to look out for
à
PM assures investors of market growth in an orderly manner
Sensex crash: Some quotes
à
Global markets outlook more uncertain than before: Reddy
à
Manic Monday: Sensex saw biggest ever fall
à
Is the Indian market overvalued?
à
Sticking to large-cap stocks may pay dividends

The Fed action was the most dramatic signal it can send that it is concerned about a potential recession in the United States. The Fed decision was taken during an emergency telephone conference with Fed officials on Monday night. Those discussions occurred after global financial markets had plunged Monday as investors grew more concerned about the possibility that the United States, the world's largest economy, could be headed into a recession. In a brief statement, the Fed said it had decided to cut the federal funds rate "in view of a weakening of the economic outlook and increasing downside risks to growth." The central bank said that the strains in short-term funding markets have eased a bit, but "broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets."

The move caught financial markets by surprise. Many had expected the central bank would wait until its meeting next week to make any move in interest rates. The Fed made the move before markets had opened in the United States, hoping that the bold move would limit the decline in US stocks. Before Tuesday's move, the Fed had cut interest rates three times, beginning in September, the month after a severe credit crunch had roiled Wall Street and global financial markets.

The Fed cut the funds rate by a half-point in September and then by smaller quarter-point moves in October and December. In its statement, the Fed said, that "appreciable downside risks to growth remain" and held out the prospect of further rate cuts. "The committee will continue to assess the effects of financial and other developments on economic prospects and will act in a timely manner as needed to address those risk," the Fed statement said. The Fed's action was approved on an 8-1 vote with William Poole, president the Fed's regional bank, dissenting. The statement said that Poole objected because he did not believe current conditions justified a rate move before the Fed's meeting next week.

------------------------------------------------
Fed cuts rates by 75 bps

The US Federal Reserve has cut funds and discount rates by 75 bps, reports CNBC-TV18. It has cut the discount rate by 75 bps to 4% while the funds rate is now at 3.5%.
This is the first inter-meeting rate cut since September 17, 2001. "We are still not forecasting a recession this year," the Fed said.

US Treasury Secretary Henry Paulson said the rate cut shows that the Fed is nimble and is able to move quickly. "We continue to remain confident about the global economy. The US economy is resilient," Paulson said.

Job creation continues at a lower pace, he said. "American workers are the most productive anywhere in the world."

The Federal Reserve has stepped in with an emergency rate cut. The Fed has cut both the funds and discount rates by 75 bps. This comes as an attempt to limit the risks of a recession, after huge selling in global financial markets. It is the largest rate cut in one shot for the first time in 24 years.
The Fed said it is cutting these rates because of increased downside risks to growth, deterioration of broader markets, tightening of credit for businesses and households and because of data showing deeper correction in the housing market. The Fed said it expects inflation to soften and that risks to growth will remain. Hence, the Fed will remain ready to act.

Source: Economic Times, Moneycontrol.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sensex loses 875 pts on terrible Tuesday

Sensex loses 875 pts on terrible Tuesday
Sensex closes over 9% from lows
Sensex: Top 10 falls

NSE
4899.30 -309.50
BSE
16729.94 -875.41

As weak global markets let them loose, the bears had another go at stocks on the Indian bourses this morning. So sharp was the decline in values of heavyweight stocks that the benchmark indices Sensex and Nifty crashed by more than 10% in a flash.

The market wide circuit filters hit, trading came to a halt on the exchanges. During the one hour stoppage, the finance minister appealed to the investors to remain calm and stated that the economy was in good shape. On resumption, a few frontline stocks edged off their lower levels and the indices too regained a significant portion of lost ground.

• Market crash: Rs 6.64 lakh crore wiped out!• Is the Ponzi bubble over?• How to survive when Dalal St gets nuked

But the recovery did not last long. With investors choosing to exit counters at every noticeable rise, it turned out to be a roller coaster ride for the Sensex and Nifty this afternoon. As margin calls got triggered, at one stage, the Nifty even crashed by around 14.6%.

Finally, towards the fag end of the session, a few heavyweights bounced back from their lows and the Sensex, which had slumped to a low of 15,332.42 this morning, ended at 16,729.94, around 5% or 875.41 points behind its previous closing mark.

The Nifty, which crashed to a low of 4448.50 in early afternoon trade, settled at 4899.30 with a big loss of 5.94% or 309.50 points.
Bharti Airtel (2.55%) and Tata Motors (0.75%) were the only gainers from the Sensex. Nifty stock Nalco ended with a gain of 2.6%. Maruti Suzuki, which ended with a loss on BSE, closed with a modest gain on the National Stock Exchange.

ONGC, the biggest loser among Sensex stocks, closed 13.6% down at Rs 962.35. ITC, Hindalco, Mahindra & Mahindra, Ambuja Cements, Cipla, HDFC, Reliance Industries and Tata Steel went down by 7% - 10%.
Hindustan Unilever, Ranbaxy Laboratories, Reliance Communications, BHEL, Grasim Industries, HDFC Bank, Satyam Computer Services, Tata Consultancy Services, NTPC and ICICI Bank closed lower by 4% - 7%.

DLF, which plunged to a low of Rs 740 in morning trade, ended with a loss of nearly 4% at Rs 867.70. Reliance Energy and Wipro lost 3.35% and 2.45% respectively. State Bank of India finished with a loss of 1.85%. Maruti Suzuki, Infosys Technologies, Larsen & Toubro and ACC lost 0.5% - 1%. Bajaj Auto ended with a small loss.

Unitech, Reliance Petroleum, Tata Power, Punjab National Bank, Cairn India, Sun Pharmaceuticals, Hero Honda, HCL Technologies, GlaxoSmithKline Pharma, Suzlon Energy, ABB, SAIL, VSNL, Dr. Reddy's Laboratories, BPCL and GAIL India ended sharply lower.
Though a few mid and smallcap stocks bounced back in late afternoon trade, the Midcap and Smallcap indices closed sharply down today. While the Midcap barometer went down by 8.62%, the Smallcap index ended with a loss of 8.09%.

The market breadth remained very weak. Out of 2454 stocks traded on BSE today, as many as 2273 stocks closed with losses. 152 stocks managed to post gains and 29 stocks ended at their previous closing levels.

Record fall
Sensex loses 875 pts Special: Markets mangled Images: Top guns' take on mkt crash
Market mayhem: An analysis
Sensex down 1,917 pts
Realty shares worst hit in market turmoil
Sensex down by 875.41 pts, Nifty dips 300 pts
Sensex closes 875.41 pts down at 16,729.94
Sensex down by 875.41 pts, Nifty dips 300 pts
Bharti, Tata Motors overcome market blues, close up 2.5-1.0%
Shares fall 11 % in worst intraday plunge, trading halted
Biggest one-day losses on Indian share indexes in recent years
FM urges calm amid stock market falls
BoI will provide liquidity to brokers, not to sell in panic

Other Sify stories:

SpiceJet Oct-Dec net dips 22.5%
Sify Technologies Q3 net profit at $1.55 m
Punjab Tractors Q3 net up 3.25% at Rs 25.40 cr
TNPL Q3 net up 27.71% at Rs 28.48 cr
NDTV to sell 26% in unit to NBC, NBCU
Grasim Q3 net up 34.5%

Neyveli Lignite Q3 net up 33.94% at Rs 204.48 cr
Vijaya Bank Q3 net up 36.83% at Rs 126.88 cr
Chidambaram dispels investors’ fears
Centurion Bank net rises 44%
Bharat Forge Q3 net dips 7.8% at Rs 70.957 cr
HDFC Bank Q3 net up 45.23% at Rs 429.36 cr

Source: Sify and Economic Times. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

21 January 2008

ET Headlines

Sona Oke Gawa acquires precision forging biz of ThyssenKrupp
Cummins India bets big on auto engines
Kew Industries to conisder supply to Tata Metaliks
Ispat offers to supply steel for Tata Motor's Nano

M&M set to roll out 10 new vehicles in 3 yrs
Caparo Group setting up component plant for Tata Nano
Volkswagen partners with PCH, launches Passat Sedan
Folks Vahana: Gods, People & Auto Branding

Private oil companies need not set up subsidiaries to buy assets abroad
OPEC rejects US call for more oil
MRPL offers H2 February Mangalore lot
ONGC, Gail & OIL to jointly pay 7,083 cr for subsidising auto and cooking fuels
Fuel price panel may not meet this week: Source
Fuel price hike not likely before January 28: Deora
Weather, not recession fears, to drive fuel prices

Larsen & Toubro bags Rs 1,695-cr Kuwait order to supply reactors
GIC & JP Morgan to acquire 21% stake in Ballarpur Paper Holdings

Market may remain flat in near-term until FIIs return
Equities to open lower on global weakness
Stocks to watch on Monday
FIIs pull out over Rs 5300 cr in six days
Heard on the street

Traders with long positions in for some tough times
Technical Outlook: Nifty to test the sanctity of the bull run
Metals, oil & gas shares worst hit in market meltdown
Just 1 in 20 stocks holds fort in market meltdown
Unlisted firms stopped from raising funds through ADR or GDR
Suzlon Energy, Jindal Steel & Power go ex-date
Motilal puts 'buy' on Tata Power

IPOs

IPO: OnMobile Global and IRB Infrastructure
IRB Infra Developers IPO to raise up to 11 bn rupees
Emaar MGF Land IPO priced Rs 610-690/share
Bang Overseas IPO opens Jan 28

Insurers may invest in Rs 200 cr IPOs
Spice plans $100 mn mobile services IPO
Dubai's Emaar to raise $1.8 bln in India unit IPO
KNR Constructions IPO opens Jan 24
Enough appetite for IPOs provided pricing is right: Bhanshali

ET Features

Investor's Guide

Invest in Dena Bank with a 2 year horizon
Derivatives diary: Learn the stop-loss levels
Lot's more in Engineers Indiabs stock
OnMobile Global: Raising money
Liquidity is charting new territories across the globe
Derivatives diary: Learn the stop-loss levels
Times of high volatility

Liquidity is charting new territories across the globe
Bears loom large
Engineered to succeed
Cords Cable coming out with an IPO
Invest in Dena Bank with a 2 year horizon
Stocks to pick: Tata steel, TCS, Petronet LNG

Results:

Omax Auto net falls 67% in Dec`07 qtr

Omax Autos witnessed a 67% decline in net profit for the quarter ended December 2007, at Rs 20 million, as against Rs 66.60 million for the same quarter of the previous year.
The total income for the latest quarter stood at Rs 1,744.20 million, as against Rs 1,821.20 million in the corresponding quarter, previous year, reflecting a marginal decline of 4.22%.

Sterlite Technologies Q3 net zooms 2.05 times

Sterlite Technologies reported an excellent earnings growth of 2.05 times in the third quarter ended Dec. 31, 2007, to Rs 264 million compared with Rs 128.70 million in the same quarter, last year. The earnings per share (EPS) for the quarter jumped 84.93% to Rs 4.05 compared with Rs 2.19 in previous year period.Net sales for the quarter jumped 59.91% to Rs 5,020.30 million, while the total income for the quarter surged 59.96% to Rs 5,022 million, when compared with the corresponding quarter, a year ago.

Religare reports Rs 336.17 mn consolidated net profit in Q3 Religare Enterprises announced today that its consolidated profit after tax in the quarter ended December 2007 stood at Rs 336.17 million, up 93% over Rs 361.85 million in first half of FY07-08. The profit after tax in 9 months ended December 2007 was Rs 700.45 million.The consolidated revenue of the company in quarter ended December 2007 was stood at Rs 2,880.22 million, up 93.5% over Rs 3,079.63 million in first half of FY07-08. The revenue for nine month ended December 2007 was Rs 5,959.85 million.

Titan Industries Q3 earnings climb 11.98%

Titan Industries reported today a rise of 11.98% in earnings in the quarter ended Dec. 31, 2007, to Rs 308.40 million compared with Rs 275.40 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 12.10% to Rs 6.95 compared with Rs 6.20, a year ago.Net sales for the quarter surged 53.73% to Rs 8,134.50 million, while the total income for the quarter jumped 49.87% to Rs 8,139 million, when compared with the corresponding quarter, a year ago.

HDFC Bank Q3 net jumps 45%

Leading private sector lender, HDFC Bank reported today a jump of 45.23% in earnings in the quarter ended Dec. 31, 2007, to Rs 4,293.60 million compared with Rs 2,956.40 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 26.59% to Rs 11.90 compared with Rs 9.40 in prior year period.The interest earnings of the bank surged 55% to Rs 27,269 million, while the total income for the quarter jumped 59.70% to Rs 34,057.90 million, when compared with the corresponding quarter, a year ago.

Balmer Lawrie Q3 net rises 6.10%

Balmer Lawrie reported a marginal rise of 6.10% in earnings in the quarter ended Dec. 31, 2007, to Rs 199.9 million, compared with Rs 188.4 million in the same quarter, last year. The earnings per share (EPS) for the quarter rose 6.05% to Rs 12.27 compared with Rs 11.57 in prior year period.Net sales for the quarter climbed 9.07% to Rs 3,471.90 million, as gainst Rs 3,183.20 million in the same period of previous year, while the total income for the quarter dropped 9.07% to Rs 3,501.10 million, when compared with the corresponding quarter, a year ago.

-------------------------------------------
Madras Aluminium Q3 net drops 70%

Madras Aluminium Company announced today a substantial fall of 70% in earnings in the quarter ended Dec. 31, 2007, to Rs 147.10 million compared with Rs 490.70 million in the same quarter, last year. The earnings per share (EPS) for the quarter declined 70% to Rs 6.54 compared with Rs 21.81 in prior year period.Net sales for the latest quarter fell 11.09% to Rs 1,100.50 million, from Rs 1,237.80 in the previous year period, while the total income for the quarter dropped 13.24% to Rs 1,166.60 million, when compared with the corresponding quarter, a year ago.

Gati Q3 earnings surge 2.22 times; sales fall 3.19%

Gati announced today a jump of 2.22 times in earnings in the quarter ended Dec. 31, 2007, to Rs 124.90 million compared with Rs 42.60 million in the same quarter, last year. The earnings per share (EPS) for the quarter surged 2.51 times to Rs 1.51 compared with Rs 0.60 in prior year period.Net sales for the quarter fell 3.19% to Rs 1,345.30 million, while the total income for the quarter dropped 2.85% to Rs 1,354.90 million, when compared with the corresponding quarter, a year ago.

Finolex Industries net drops 5.73% in Dec`07 qtr

Finolex Industries announced today (Monday) a fall of 5.73% in earnings in the quarter ended Dec. 31, 2007, to Rs 215.72 million compared with Rs 228.84 million in the same quarter, last year. The earnings per share (EPS) for the quarter plunged 5.95% to Rs 1.74 compared with Rs 1.85 in prior year period.

Edelweiss Capital consolidated net triples for Dec`07 qtr

Edelweiss Capital, a diversified financial services company, posted 3 fold jump in consolidated net profit to Rs 924.30 million for the quarter ended Dec. 31, 2007, as against Rs 309.20 million for the quarter ended Dec. 31, 2006.
Total Income increased 3.29 times from Rs 980.70 million for the quarter ended Dec. 31, 2006 to Rs 3,235.30 million for the quarter ended Dec. 31, 2007.
On Standalone basis, the company reported 38.15% decline in net profit to Rs 41.50 million for the quarter ended Dec. 31, 2007 as compared to Rs 67.10 million for the quarter ended Dec. 31, 2006.

Neyveli Lignite Q3 net rises 33.94%

Neyveli Lignite Corporation announced today a rise of 33.94% in earnings for the quarter ended Dec. 31, 2007, to Rs 2,044.80 million compared with Rs 1,526.60 million in the same quarter, last year. The earnings per share (EPS) for the quarter climbed 34.06% to Rs 1.22 compared with Rs 0.91 in prior year period. Rise in operating margin together with strong revenue growth helped the company to report good set of numbers. Operating margin in the quarter rose to 37.81%, representing a rise of 69 basis points when compared with prior year period.

Kotak Mahindra Bank consolidated net jumps 2.14 times in Dec`07 qtr
Kotak Mahindra Bank reported a jump of 2.14 times in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 3,637.33 million compared with Rs 1,695.77 million in the the same quarter, last year. The consolidated total income for the quarter surged 2.08 times to Rs 24,827.16 million compared with the corresponding quarter, a year ago.On a standalone basis, Kotak Mahindra Bank registered a growth of 2.24 times in earnings in the quarter ended Dec. 31, 2007, at Rs 1,016.66 million compared with Rs 454.01 million in the prior year period. The total income for the quarter surged 96.05% to Rs 8,871.90 million compared with the corresponding quarter, a year ago.

Shanthi Gears net up 17.55% for Dec`07 qtr
Shanthi Gears registered growth of 17.55% in net profit to Rs 119.02 million for the quarter ended Dec. 31, 2007, from Rs 101.25 million in the corresponding quarter, last fiscal.
Net sales stood at Rs 638.57 million in the quarter ended Dec. 31, 2007, as against Rs 518.41 million in the same period last year, recording a growth of 23.18%.

Bharat Forge consolidated net drops 7.79% in Dec`07 qtr
Bharat Forge reported today a drop of 7.79% in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 709.57 million compared with Rs 769.57 million in the same quarter, last year. The consolidated total income for the quarter climbed 6.01% to Rs 10,994.35 million compared with the corresponding quarter, a year ago. On a standalone basis, Bharat Forge (Q, N,C,F)* registered a fall of 7.61% in earnings in the quarter ended Dec. 31, 2007, to Rs 581.79 million compared with Rs 629.73 million in the same period, previous year. The earnings per share (EPS) for the quarter dropped 9.57% to Rs 2.55 compared with Rs 2.82 in the same period, a year ago.

ONGC net down 6.46% in Dec`07 qtr
Oil & Natural Gas Corporation (ONGC) registered a fall of 6.46% in net profit to Rs 43,665.40 million for the quarter ended December 2007 as compared with Rs 46,683.10 million in the corresponding quarter, last fiscal.
Net sales for the quarter declined 2.85% to Rs 151,208.30 million as against Rs 15,5645.20 million in the same quarter, a year ago.
Total income for the quarter dipped 1.75% to Rs 159,838.10 million from Rs 162,690.10 million in the corresponding quarter, last year.

Jindal Stainless net drops 55.24% in Dec`07 qtr
New Delhi-based steel manufacturer Jindal Stainless (Q, N,C,F)* reported 55.24% decline in net profit to Rs 506.00 million for the quarter ended December 2007, as against Rs 1,130.50 million in the same quarter, last year.
Net sales for the quarter fell 6.71% to Rs 13,485.70 million as compared with Rs 14,455.90 million in the corresponding quarter, a year ago.
Total income slid 5.86% to Rs 13,663.00 million as against Rs 14,513.80 million in the same quarter, a year ago.
The earnings per share (EPS) stood at Rs 2.79 for December 2007 quarter.

Tanla Solutions net up 59.33% for Dec`07 qtr
Hyderabad-based telecommunications software and services provider Tanla (Q, N,C,F)* Solutions, reported 59.33% increase in net profit to Rs 221.07 million for the quarter ended December 2007 as against Rs 138.75 million in the same quarter, last year.
Net sales for the latest quarter climbed 56.72% to Rs 335.27 million as compared to Rs 213.93 million in the corresponding quarter, a year ago.
Total income surged 81.24% to Rs 394.86 million as against Rs 217.87 million in the same quarter, a year ago.

Hi-Tech Gears net up 23.52% in Dec`07 qtr
Hi-Tech Gears reported 23.52% increase in net profit to Rs 22.79 million for the quarter ended December 2007 as against Rs 18.45 million in the same quarter, last year.

Nucleus Software net down 5.95% in Dec`07 qtr
Nucleus Software Exports registered a 5.95% fall in net profit to Rs 100.33 million for the quarter ended December 2007 as compared with Rs 106.68 million in the corresponding quarter, last year.

Satyam Consolidated net up 29% in Q3 (update)
IT major, Satyam Computer (Q, N,C,F)* Services announced its December 2007 quarter results today (Monday).
On a Consolidated basis (as per Indian GAAP), the Group posted a 28.59% jump in net profit at Rs 4,336.30 million for the quarter ended December 2007 as compared to Rs 3,372.30 million for the quarter ended December 2006.
Total Income has increased 35.59% to Rs 22,660.50 million for the quarter ended December 2007 from Rs 16,712.90 million for the quarter ended December 2006.

---------------------------------------------------------------------------

Centurion Bank Q3 net profit up at Rs 48.27 cr
21st-Jan-2008

Centurion Bank of Punjab has announced its third quarter numbers. It has posted standalone net profit of Rs 48.27 crore for the quarter ended December 2007 as against Rs 33.61 crore in same period of previous year and net interest income of Rs 189.95

----------------------------------------------------------------

Sensex crashes 1400 pts; R-Com, NTPC worst hit : ET

Sensex crashes 1400 pts; R-Com, NTPC worst hit

Market fall continues, Sensex slips over 692 points
Sensex crashes 1400 pts; R-Com, NTPC worst hit
REL raises Rs 7835 cr through allotment of warrants to group co
Blood-bath on Dalal Street; Sensex ends 1400 points down

Bears go for the kill; Sensex sheds 1408 pts
BJP demands SEBI's intervention in stock market crash
Shares slide at open on global weakness
Sensex off early lows; selling not ruled out

Sensex tanks over 1600 pts
Biggest intra-day fall ever: Sensex down 1600 pts
Investors lose over $300 bn in six days
Markets will grow in orderly manner: PM
Sensex saw biggest ever fall
-------------------------------------------------------------
Large-cap stocks may pay dividends22 Jan, 2008, 0715 hrs IST, TEAM ET ,TNN
Investors have seen their sector funds do well as compared to the Sensex over past 1 year. In pics: Sensex Crash I Quotes: Sensex CrashI Sensex fall: Full Coverage

Market Analysts: It's time to look for value stocks
Is the Indian market overvalued?
Sensex 2nd most expensive emerging market index
Asian stock markets tumble

Sensex crashes by over 1400 pts

Sensex crashes by over 1400 pts
The 10 biggest falls in Sensex history

SENSEX 17605.35 -1408.35
NIFTY5208.80 -496.50

Following the hefty 1,814-point loss last week, the Sensex opened with a negative gap of 94 points at 19,014, and continued to drift deeper into red as the day progressed.
Relentless selling in the last session saw the index tumble to a low of 16,951 - down 2,063 points (10.8%) from the previous close. (Since the index had dropped over 10% after 1400 hrs, the circuit limit was placed at 15%).
Bargain hunting at lower levels saw the index recover some ground, and finally end at 17,605 - down 1,408 points (7.4%); the biggest-ever loss in absolute terms and also the first-ever four digit loss for the index.
While the Midcap Index plunged 1,012 points (11.4%) to 7,882, the Smallcap Index tumbled 1,249 points (10.3%) to 9,443.
The NSE Nifty shed 496 points (8.7%) at 5,209.
The BSE breadth was extremely negative - out of 2,810 stocks traded, 2,657 declined, 139 advanced and 14 were unchanged.
Index Shakers
Reliance Energy [Get Quote] and ACC crashed around 16% each to 1,776 and Rs 728, respectively.
Bajaj Auto [Get Quote] tumbled over 15% to Rs 2,064. NTPC slumped over 14% to Rs 206, and Reliance Communications [Get Quote] plunged nearly 13% to Rs 613.
Hindalco [Get Quote] and DLF dropped over 10% each to Rs 166 and Rs 904, respectively.
Grasim [Get Quote] and Reliance slipped over 9% each to Rs 3,025 and Rs 2,544, respectively.
Tata Motors [Get Quote], BHEL and ONGC [Get Quote] declined around 8% each to Rs 654, Rs 2,114 and Rs 1,114, respectively.
Mahindra & Mahindra, Tata Steel [Get Quote] and TCS [Get Quote] shed 7.5% each at Rs 673, Rs 722 and Rs 836, respectively.
SBI [Get Quote] and Hindustan Unilever dropped around 7% each to Rs 2,200 and Rs 200, respectively.
Larsen & Toubro, Ranbaxy [Get Quote] and Cipla were down 6% each at Rs 3,689, Rs 363 and Rs 190, respectively.
ICICI Bank [Get Quote] and HDFC [Get Quote] declined nearly 6% each to Rs 1,173 and Rs 2,660, respectively.
Bharti Airtel [Get Quote], Infosys [Get Quote], ITC, Maruti [Get Quote], HDFC Bank, Ambuja Cements and Wipro [Get Quote] were down 3-5% each.
Value & Volume Toppers
Reliance topped the value chart with a turnover of Rs 663.60 crore followed by Reliance Natural Resources [Get Quote] (Rs 491.70 crore), Reliance Energy (Rs 466.40 crore), Reliance Petroleum [Get Quote] (Rs 456.80 crore) and Reliance Capital [Get Quote] (Rs 340.50 crore).
Reliance Natural Resources led the volume chart with trades of around 2.75 crore shares followed by Ispat Industries [Get Quote] (2.55 crore), Reliance Petroleum (2.47 crore), Tata Teleservices [Get Quote] (1.53 crore) and IFCI (1.49 crore).

----------------------------------------------------
Govt warns investors• FIIs pull out over Rs 5,300 crore

Sensex crashes by 1408 pts; Nifty ends nearly 500 pts down

Investors lose over $300 b in 6 days

Sensex nosedives Images: Carnage in Dalal Street The Holocaust Monday: Special

What is market correction? Who won, who lost?
10 biggest falls in Sensex history Your say
Trading halted: BSE asked to clarify

Biggest-ever loss: Sensex plunges 1,400 points
Why did the stock market crash?
The 10 biggest falls in Sensex history
Trading halted: BSE asked to clarify
Market crash: Have you been hit?
Investors lose over $300 bn in 6 days
Market correction? What's that?
These media stocks could make you

------------------------------------------------------------

Black Monday again: Biggest ever point-fall for mkts

Investor wealth worth Rs 6.6 lakh cr wiped out

Pace of correction unnerving: Raamdeo Agrawal

US holds key to mkts' behaviour tomorrow: Experts

Find value picks from day's biggest losers

Sectors to eye right now

Strategies to adopt after 1000 point crash

------------------------------------------------
Mid-caps go back to discount to Sensex

India's Sensex Falls Most in Four Years:

Sensex tumbles; Govt blames global risks;

20 January 2008

ET Stories

http://economictimes.indiatimes.com/

MFs lag in rush for Reliance Power IPO/ R Power IPO

Reliance Power IPO to make Anil Ambani the richest Indian
Reliance Power IPO sees FII demand over $100 bn
Indian GDRs clock record $12 bn turnover on LSE
ICICI subsidiaries put up good performance
Biz week in pics Wacky Gadgets

'MF industry will see rapid growth'
OnMobile IPO opens on Jan 24
ICICI to invest in Express Towers
Parsvnath aims $15 bn investment

Production efficiency drive UltraTech profits up 32 pc
TCS, Infosys, Wipro add over 57000 workers in 2007
Railways makes Rs 15,500 cr profit in current fiscal: Velu
Anil Ambani pledges shares to all retail investors
Bush's $150 bn plan to lift US economy

Source: Economic Times. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

22 January 2008

Results: Bk Of India, Grasim, Vijaya Bk etc

Lessons from January 2008: Udayan Mukherjee

Fed cuts interest rate by 0.75%

Sensex loses 875 pts on terrible Tuesday

21 January 2008

ET Headlines

Results:

Sensex crashes 1400 pts; R-Com, NTPC worst hit : ET

Sensex crashes by over 1400 pts

20 January 2008

ET Stories

Zoho One

Subscribe via email

Blog Archive

Market Stats, Stock Market News

Other Stock Related

LinkedIn Member

E-Magazines, NewsOnline

Other USEFUL Links

Stocks & Venture & Tech space

About Us

Total Pageviews

Labels

Search This Blog