Results: Tata Steel, BHEL, BEML etc

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Tata Steel on consolidated basis registered a jump of 2.93 times in profit after minority interest and share of profits of associates at Rs 33,423.60 million for the quarter ended Sep. 30, 2007 as compared to Rs 11,391.10 million for the quarter ended Sep. 30, 2006.

Total Income increased 5.25 times from Rs 61,929.50 million for the quarter ended Sep. 30, 2006 to Rs 325,351.50 million for the quarter ended Sep. 30, 2007.

The group announced a phenomenal jump of 4.50 times in profit after minority interest and share of profits of associates at Rs 97,027.30 million for the six months ended Sep. 30, 2007 as compared to Rs 21,582.90 million for the six months ended Sep. 30, 2006.

Total Income rose 5.31 times from Rs 120,198.30 million for the six months ended Sep. 30, 2006 to Rs 638,716.30 million for the six months ended Sep. 30, 2007.

The previous period figures do not include Corus and the current period includes financial results of Corus, reviewed by the auditors, the company said in a release.

Report on Financial performance

Income from Operations

Total income for six months ended Sep. 30, 2007, amounted to Rs 638,720 million against Rs 120,200 million in the same period previous year. The increase comprise mainly of Rs 498,090 million of Corus income and increases of Rs 8,660 million in Indian operations, Rs 12,370 million in Nat Steel and Rs 5,120 million in Tata Steel, (Q, N,C,F)* Thailand.

Total Expenditure

Total expenditure for the six months ended Sep. 30, 2007 amounted to Rs 561,120 million against Rs 86,650 million during the previous years. The increase is primarily on account of inclusion of expenditure of Corus during the current year.
Shares of the company gained Rs 20.65, or 3.08%, to trade at Rs 692. The total volume of shares traded was 62,057 at the BSE. (10.32 a.m., Friday)
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BHEL net rises 15.61% in Dec `07 qtr

Bharat Heavy Electricals (BHEL) disclosed steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 15.61% rise in profit to Rs 7,719 million from Rs 6,676.50 million in the quarter ended December 2006.
Net sales for the quarter rose 14.38% to Rs 49,641.40 million, compared with Rs 43,396.90 million in the corresponding quarter, a year ago.
Total income rose 15.55% to Rs 52,290 million for the quarter ended December 2007 from Rs 45,251.60 million for the same period last year.
The basic EPS after extraordinary item stood at Rs 15.77 for the quarter ended December 2007

BEML Q3 earnings climb 11.84%
India`s leading and Asia`s second largest manufacturer of earthmoving equipment, BEML reported a rise of 11.84% in earnings in the quarter ended December 2007, to Rs 592.40 million compared with Rs 529.70 million in the same quarter, last year. Total income for the quarter rose by 14.60% to Rs 6,407.60 million compared with the corresponding quarter, a year ago

Nandan Exim net rises 19% in Dec`07 qtr
Gujarat Industries Q3 net falls 4%
TVS Motor net drops 49.12% in Dec`07 qtr
Time Technoplast net down 48.71% for Dec `07 qtr
PTC India net drops 27.95% in Dec `07 qtr
Aegis Logistics net up 73.63% for Dec `07 qtr
Bharat Electronics Q3 net fall 23.76% on lower margin
Ashok Leyland Q3 net rises 14.21%
Federal Bank net rises 22.75% in Dec`07 qtr

STC net up 70.70% in Dec`07 qtr
REI Agro Q3 net rises 4.52%
Century Textiles net rises 2.15% for Dec`07 qtr


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Corporate Results
Nagarjuna Agri Tech net profit rises 11.54% in the December 2007 quarter
Sales decline 13.04% to Rs 0.80 crore

Bhuwalka Steel Industries net profit rises 227.78% in the December 2007 quarterSales rise 31.61% to Rs 126.71 crore

Solvay Pharma India net profit rises 117.12% in the December 2007 quarterSales rise 21.23% to Rs 45.85 crore

Poddar Pigments net profit rises 428.13% in the December 2007 quarterSales rise 0.38% to Rs 24.00 crore

Sam Leaseco reports net loss of Rs 0.02 crore in the December 2007 quarterNo sales reported in the quarter

PTC India net profit declines 27.96% in the December 2007 quarter

Onward Technologies reports net loss of Rs 0.90 crore in the December 2007 quarter
NILE net profit rises 39.44% in the December 2007 quarter
Available Finance net profit rises 10.00% in the December 2007 quarter
Volant Textile Mills reports net loss of Rs 0.14 crore in the December 2007 quarter
Hercules Hoists net profit rises 9.71% in the December 2007 quarter

Winro Commercial India net profit rises 333.60% in the December 2007 quarter
Shri Dinesh Mills net profit declines 34.50% in the December 2007 quarter
Ganesh Polytex net profit rises 77.08% in the December 2007 quarter
Fairfield Atlas net profit rises 760.47% in the December 2007 quarter
IQMS Software net profit rises 10700.00% in the December 2007 quarter
Barak Valley Cements reports net profit of Rs 1.71 crore in the December 2007 quarter
Punjab Alkalies & Chemicals net profit rises 132.88% in the December 2007 quarter

Ravindra Trading and Agencies reports no net profit or loss in the December 2007 quarter
Aroni Commercials net profit declines 44.03% in the December 2007 quarter
Gujarat Lease Financing reports net profit of Rs 0.03 crore in the December 2007 quarter
Bhoruka Aluminium net profit rises 28.05% in the December 2007 quarter
Force Motors reports net loss of Rs 22.43 crore in the December 2007 quarter

Camphor & Allied Products reports net profit of Rs 0.06 crore in the December 2007 quarter
Rasoya Proteins net profit rises 38.00% in the December 2007 quarter
Oil Country Tubular reports net profit of Rs 10.48 crore in the December 2007 quarter
Gujarat Carbon & Industries reports net loss of Rs 0.77 crore in the December 2007 quarter
Zenith Fibres net profit declines 42.11% in the December 2007 quarter
Kovilpatti Lakshmi Roller Flour Mills reports net loss of Rs 0.98 crore in the December 2007 quarter

Suryalata Spinning Mills net profit declines 44.74% in the December 2007 quarter
VBC Ferro Alloys reports net loss of Rs 0.38 crore in the December 2007 quarter
Anil Chemicals & Industries reports net profit of Rs 0.65 crore in the December 2007 quarter
Micro Technologies India net profit rises 64.42% in the December 2007 quarter
Emkay Shares & Stock Brokers net profit rises 302.55% in the December 2007 quarter
Southern Iron & Steel Company net profit rises 32.92% in the December 2007 quarter

OCL India net profit rises 73.51% in the December 2007 quarter
Natco Pharma net profit rises 23.25% in the December 2007 quarter
English Indian Clays net profit declines 17.20% in the December 2007 quarter
Sanghi Industries net profit declines 9.90% in the December 2007 quarter
Zee News reports net profit of Rs 12.83 crore in the December 2007 quarter
Rico Auto Industries net profit declines 33.68% in the December 2007 quarter
Meghmani Organics reports net profit of Rs 9.43 crore in the December 2007 quarter
UCO Bank net profit declines 32.67% in the December 2007 quarter


KEI Industries net profit rises 22.39% in the December 2007 quarter
ING Vysya Bank net profit rises 198.33% in the December 2007 quarterNovartis
Dr Reddy's Laboratories net profit declines 91.60% in the December 2007 quarter
Andhra Sugars net profit declines 77.85% in the December 2007 quarter
Dalmia Cement (Bharat) net profit rises 73.57% in the December 2007 quarter
Voltas net profit rises 143.03% in the December 2007 quarter
Ashok Leyland net profit rises 14.21% in the December 2007 quarter
Federal Bank net profit rises 22.76% in the December 2007 quarter
Bharat Electronics net profit declines 23.76% in the December 2007 quarter
Kirloskar Ferrous Industries net profit rises 22.14% in the December 2007 quarter


Kale Consultants net profit declines 31.97% in the December 2007 quarter
Bellary Steels & Alloys reports net loss of Rs 27.60 crore in the December 2007 quarter
TVS Motor Company net profit declines 49.13% in the December 2007 quarter
Shivam Autotech net profit declines 54.91% in the December 2007 quarter
State Trading Corporation of India net profit rises 70.70% in the December 2007 quarter
IL&FS Investment Managers net profit rises 54.72% in the December 2007 quarter

Nava Bharat Ventures net profit rises 106.56% in the December 2007
REI Agro net profit rises 4.55% in the December 2007 quarter
Century Textiles & Industries net profit rises 114.56% in the December 2007 quarter
Medicare net profit rises 57.44% in the December 2007 quarter
ICRA net profit rises 51.25% in the December 2007 quarter
Dishman Pharmaceuticals and Chemicals net profit rises 5.89% in the December 2007 quarter
Gujarat Industries Power Company net profit declines 4.06% in the December 2007 quarter
Hindustan Organic Chemicals net profit rises 51.42% in the December 2007 quarter
Vivimed Labs net profit rises 25.85% in the December 2007 quarter

Action Construction Equipments net profit rises 102.34% in the December 2007 quarter
Dish TV India reports net loss of Rs 116.44 crore in the December 2007 quarter
Vishal Retail reports net profit of Rs 15.56 crore in the December 2007 quarter
Alphageo India net profit declines 77.48% in the December 2007 quarter
Ashiana Housing net profit rises 150.83% in the December 2007 quarter

Radha Madhav Corporation net profit rises 34.18% in the December 2007 quarter
Honeywell Automation India net profit rises 12.50% in the December 2007 quarterIndian Railway Finance Corporation net profit rises 0.28% in the December 2007 quarter



Source: http://www.myiris.com and www.capitalmarket.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.

Global CEOs of Indian origin

Global CEOs of Indian origin

Software major Adobe Systems has named Shantanu Narayen as president and CEO, effective December

1.Mr Narayen, currently president and COO, will also become a board member at the $2.5-billion firm. Next >>

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Top 20 rich Indians earn as much as 30 crore people
Top 20 rich Indians earn as much as 30 crore people in the country, former Reserve Bank Governor Bimal Jalan said on Friday while launching the high-profile NGO Public Interest Foundation here today. Pointing out that income disparities in the country have risen significantly, Jalan said the Foundation would endeavour to facilitate replication of best practices and success stories in social sector to the benefit of the deprived sections of the society. The high-profile NGO, launched on the eve of 59th Republic Day, will have cabinet secretary Naresh Chandra, CII mentor Tarun Das and noted industrialist Suresh Neotia as members of the governing council which will be headed by Jalan. The other members of the governing council will include chairman of UTI Bank Trust Arun Maira, advocate Shayamanand Jalan and industrialist Harshavardhan Neotia. Former chairman of Telecom Commission Anil Kumar will be the director of Foundation. "It is very critical to address the gap to improve the efficiency of public delivery system and that is the aim of the Foundation," Jalan said while elaborating the objectives of the NGO.
Former RBI chief also underlined the need for introducing a system of fixing accountability for implementation of the welfare schemes of the government. He further said that the state governments should be given some freedom to modify the centrally sponsored schemes to suit local conditions. The Foundation, which will initially function for a period three years, will run on interest of Rs 10 crore provided by the Neotia Foundation.


Ambanis, Tatas, Birlas big gainers on bourses
India's economy strong enough to weather global crisis: PM
NRIs emerge wise investors in stock market chaos
Citi CEO Pandit gets $26.7 mn stock, 3 mn options
Smart gadgets influence top executives



Source: http://www.theeconomictimes.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 sees highest gain at close, 1140 points up

Sensex sees highest gain at close
Bulls ride global wave; Sensex reclaims
Sensex ends 1140 pts up
Rally continues unabated; Sensex up 1000 pts
Video: Sensex makes a strong comeback
Indices soar; Sensex conquers 18000
Sensex sizzles
Bulls are back with a bang. Sensex zooms 1,140 points on hectic buying

NSE 5383.35 +349.90
BSE 18361.66 +1139.92

As the bulls charged back with a vengeance and kept lapping up stocks at will, it was a virtual one way trip up north for several blue chip stocks and the benchmark indices Sensex and Nifty today. Buying remained so strong and consistent that for almost the entire duration of the session, all the components of the premier indices remained in the positive zone.
The Wall Street, amid choppy trade, had ended on a positive note yesterday. A strong rally on the Asian bourses and expectations of a cut in interest rates contributed to the buoyant opening this morning.
The fiscal package announced by the US government to prevent a slowdown of its economy, strong corporate results from other parts of the globe and on the home front were among the factors that contributed to the market's sparkling show today. And, as the session progressed, a positive opening on the European bourses lifted the sentiment further.

The Sensex and Nifty recorded their biggest ever intra-day gains today. While the Sensex, which touched a high of 18,406.25, closed with a gain of 1139.92 points or 6.62% at 18,361.66, the Nifty, which zoomed to 5399.25, settled at 5383.35, up 349.90 points or 6.95% over its previous closing mark.

So frenzied was the buying in blue chips that at one point of time, when all Sensex stocks were up in the positive territory, despite recording a sharp 2.3% surge, ACC found itself at the bottom of the list.
Some of the heavily battered realty, metal and capital goods sectors bounced back strongly today. Mirroring the sharp gains posted by key realty stocks, the BSE Realty index shot up by 10.41%. Among other sectoral indices, BSE Metal surged 9.73% and the Bankex advanced by 7.53%. The Auto, Capital Goods, Consumer Durables, Healthcare, IT, Oil & Gas, Power, PSU and Teck indices moved up by 5.5% - 7% while the FMCG index, which gained the least, went up by 4.73%!
Reliance Energy (11.85%) and ICICI Bank (11.2%) were in the limelight almost right through the session today, but it was Hindalco (14%) which topped the list of Sensex gainers in the end.
Larsen & Toubro (9.95%), NTPC (9.15%), Bajaj Auto (9.05%), Bharti Airtel (7.3%), Infosys Technologies (7.1%), Mahindra & Mahindra (7.8%), ONGC (7.55%), Tata Motors (7.7%), Tata Steel (6.4%), Ranbaxy Laboratories (6.1%), Hindustan Unilever (6.25%) and HDFC Bank (6.25%) also closed with hefty gains.
Reliance Industries, which remained relatively subdued, closed with a sharp gain of 4.8%. Realty stock DLF and FMCG heavyweight ITC gained 5.9% and 5.15% respectively. ACC, BHEL, Cipla, DLF, Grasim Industries, HDFC, ITC, Maruti Suzuki, Satyam Computer Services, State Bank of India, Tata Consultancy Services and Wipro moved up by 2% - 5%. Ambuja Cements, which missed out on the rally, finished with a small gain. However, on the National Stock Exchange, the stock ended with a sharp gain.
Unitech (17.7%) was the biggest gainer from the Nifty pack. SAIL recorded a gain of 15%. Nalco moved up by 12.85%. HCL Technologies gained nearly 8.5%. Punjab National Bank, Reliance Petroleum, ABB, Cairn India, Dr Reddy's Laboratories, VSNL, Hero Honda, Siemens, Sun Pharmaceuticals, Sterlite Industries, Tata Power and GAIL India advanced by 4% - 8%. BPCL and Zee Entertainment also closed on a high note. Suzlon Energy and GlaxoSmithKline Pharma ended with modest gains.
Quite a number of midcap stocks recorded handsome gains. Reflecting investor interest for stocks in that space, the Midcap index firmed up by 6.41% today. After experiencing an uncertain period this afternoon, smallcap stocks bounced back sharply. The barometer tracking the movements of these stocks, ended stronger by over 4%.
The market breadth, which remained a bit negative at one stage, turned positive as the session drew to a close. Out of 2758 stocks traded on BSE, 1558 stocks closed with gains. 1164 stocks finished lower and 36 stocks ended at their previous closing levels

-----------------------------------
The Sensex opened with a huge positive gap of 282 points at 17,504. Considerable buying support saw the index move higher as the day progressed.The index zoomed to an intra-day high of 18,406 towards the closing bell. The Sensex finally ended with a record gain of 1,140 points (6.6%) at 18,362 - the first-ever, four-digit single day gain for the index.
The Nifty gained 350 points to close at 5,383.
The index, however, ended the week on a negative note - down 652 points (3.4%).

For more: Sensex sees highest gain at close

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Source: http://www.sify.com and www.rediff.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.

ET stories

EPF panel keeps interest rate at 8.5% for '08
Earnings Biz Humour
Rupee strengthens; gold advances
First-time investors get a taste of capitalism
NRIs emerge wise investors in stock market chaos

Indian cricket gets auctioned for whopping $718 mn
SRK, Preity Zinta, Mukesh Ambani, Mallya win IPL bids
Mumbai to rival London, New York as financial centre
State Bank of India Q3 net up 70%
'RBI may cut CRR after Fed rate cut'

Birla group to enter PE business
PBA Infrastructure bags Rs 150.45 crore orders
Successful IIT alumini to coach 1,000 budding entrepreneurs
Heard on the street

Citi VC, AIG buy 16% stake in Akruti
ENIL Q3 net profit falls 35% YoY
Tips Q3 net profit at Rs 1.47 crore YoY
FACT Q3 net loss increases 102.23% YoY
Motilal Oswal assigns 'buy' to ITC for target Rs 242

Ashoka Buildcon files IPO papers with SEBI
Reliance Power seeks SEBI nod for early allotment to QIBs
Aviva Life in tie-up with Bank of Rajasthan for distribution



Source: http://economictimes.indiatimes.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.

Results: Bartronics, Redington, Ankit Metal, TRIL, Aegis, Garware, Jain irrigation, HDIL, Manugraph

State Bank of India net profit rises 69.82% in the December 2007 quarter
Operating income rises 30.10% to Rs 12666.81 crore

Net profit of State Bank of India rose 69.82% to Rs 1808.64 crore in the quarter ended December 2007 as against Rs 1065.06 crore during the previous quarter ended December 2006. Total operating income rose 30.10% to Rs 12666.81 crore in the quarter ended December 2007 as against Rs 9735.94 crore during the previous quarter ended December 2006

Shrenuj & Company net profit rises 8.44% in the December 2007 quarter

Denso India net profit rises 77.95% in the December 2007 quarter

Bartronics India net profit rises 95.36% in the December 2007 quarter
Net profit of Bartronics India rose 95.36% to Rs 6.74 crore in the quarter ended December 2007 as against Rs 3.45 crore during the previous quarter ended December 2006. Sales rose 211.39% to Rs 54.68 crore in the quarter ended December 2007 as against Rs 17.56 crore during the previous quarter ended December 2006.

Hind Rectifiers net profit rises 10.16% in the December 2007 quarter
Jindal Poly Films net profit rises 120.94% in the December 2007 quarter
Kulkarni Power Tools net profit rises 132.35% in the December 2007 quarter

Time Technoplast reports net profit of Rs 13.19 crore in the December 2007 quarter
Time Technoplast reported net profit of Rs 13.19 crore in the quarter ended December 2007. Sales reported at Rs 132.95 crore in the quarter ended December 2007.

Ankit Metal & Power reports net profit of Rs 6.24 crore in the December 2007 quarter
Transport Corporation of India net profit declines 71.57% in the December 2007 quarter
Cyber Media India net profit declines 59.63% in the December 2007 quarter
ICI India net profit declines 97.17% in the December 2007 quarter

Take Solutions reports net profit of Rs 6.15 crore in the December 2007 quarter

Aegis Logistics net profit rises 73.63% in the December 2007 quarter
Net profit of Aegis Logistics rose 73.63% to Rs 10.14 crore in the quarter ended December 2007 as against Rs 5.84 crore during the previous quarter ended December 2006. Sales rose 40.25% to Rs 92.13 crore in the quarter ended December 2007 as against Rs 65.69 crore during the previous quarter ended December 2006.

Garware Offshore Services net profit rises 153.21% in the December 2007 quarter
Net profit of Garware Offshore Services rose 153.21% to Rs 8.28 crore in the quarter ended December 2007 as against Rs 3.27 crore during the previous quarter ended December 2006. Sales rose 90.34% to Rs 26.61 crore in the quarter ended December 2007 as against Rs 13.98 crore during the previous quarter ended December 2006

Electrosteel Castings net profit declines 52.83% in the December 2007 quarter
Sun Pharma Advanced Research Company reports net profit of Rs 2.59 crore in the December
2007 quarter

Jain Irrigation Systems net profit rises 43.29% in the December 2007 quarter
Net profit of Jain Irrigation Systems rose 43.29% to Rs 44.85 crore in the quarter ended December 2007 as against Rs 31.30 crore during the previous quarter ended December 2006. Sales rose 36.19% to Rs 411.72 crore in the quarter ended December 2007 as against Rs 302.31 crore during the previous quarter ended December 2006.

Sunil Hitech Engineers net profit rises 230.07% in the December 2007 quarter
Net profit of Sunil Hitech Engineers rose 230.07% to Rs 5.05 crore in the quarter ended December 2007 as against Rs 1.53 crore during the previous quarter ended December 2006. Sales rose 120.64% to Rs 79.10 crore in the quarter ended December 2007 as against Rs 35.85 crore during the previous quarter ended December 2006.

Sanghvi Movers net profit rises 111.43% in the December 2007 quarter
Net profit of Sanghvi Movers rose 111.43% to Rs 17.76 crore in the quarter ended December 2007 as against Rs 8.40 crore during the previous quarter ended December 2006. Sales rose 65.38% to Rs 64.40 crore in the quarter ended December 2007 as against Rs 38.94 crore during the previous quarter ended December 2006.

Nandan Exim net profit rises 18.99% in the December 2007 quarter
Net profit of Nandan Exim rose 18.99% to Rs 4.95 crore in the quarter ended December 2007 as against Rs 4.16 crore during the previous quarter ended December 2006. Sales rose 61.48% to Rs 98.50 crore in the quarter ended December 2007 as against Rs 61.00 crore during the previous quarter ended December 2006.

Manugraph India net profit rises 21.18% in the December 2007 quarter
Net profit of Manugraph India rose 21.18% to Rs 12.30 crore in the quarter ended December 2007 as against Rs 10.15 crore during the previous quarter ended December 2006. Sales declined 0.36% to Rs 93.24 crore in the quarter ended December 2007 as against Rs 93.58 crore during the previous quarter ended December 2006.

Housing Development & Infrastructure reports net profit of Rs 270.23 crore in the December 2007 quarter
United Breweries net profit declines 94.56% in the December 2007 quarter
Reliance Capital net profit rises 86.36% in the December 2007 quarter
Central Bank of India reports net profit of Rs 201.01 crore in the Dec
ember 2007 quarter
Blue Coast Hotels & Resorts net profit rises 38.39% in the December 2007 quarter

Redington India net profit rises 58.44% in the December 2007 quarter
Net profit of Redington India rose 58.44% to Rs 13.80 crore in the quarter ended December 2007 as against Rs 8.71 crore during the previous quarter ended December 2006. Sales rose 17.51% to Rs 1352.06 crore in the quarter ended December 2007 as against Rs 1150.60 crore during the previous quarter ended December 2006.

Transformers & Rectifiers India reports net profit of Rs 7.35 crore in the December 2007 quarter
Transformers & Rectifiers India reported net profit of Rs 7.35 crore in the quarter ended December 2007. Sales reported at Rs 68.45 crore in the quarter ended December 2007.

Gemini Communication net profit rises 101.22% in the December 2007 quarter
Net profit of Gemini Communication rose 101.22% to Rs 6.60 crore in the quarter ended December 2007 as against Rs 3.28 crore during the previous quarter ended December 2006. Sales rose 4.19% to Rs 41.50 crore in the quarter ended December 2007 as against Rs 39.83 crore during the previous quarter ended December 2006.

Jindal South West Holdings net profit declines 65.63% in the December 2007 quarter

Technocraft Industries (India) reports net profit of Rs 9.72 crore in the December 2007 quarter Tips Industries reports net profit of Rs 1.47 crore in the December 2007 quarter




Source: http://www.capitalmarket.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.

Results: PNB, Rel Capital, CBI, GTL, Cipla, Engg India etc

PNB Q3 earnings climb 25.96%

Punjab National Bank (PNB), the second largest public sector lenders in India, reported a growth of 25.96% in earnings in the quarter ended Dec. 31, 2007, to Rs 5,414.50 million compared with Rs 4,298.70 million in the same quarter, last year. The earnings per share for the quarter rose 25.97% to Rs 17.17 compared with Rs 13.63 in the prior year period.

The interest earned by the bank climbed 23.33% to Rs 36,361.30 million, while the total income for the quarter rose 25.93% to Rs 41,195.70 million when compared with the corresponding quarter, a year ago.

GTL Q3 consolidated earnings surge 95.53%
GTL reported a jump of 95.53% in consolidated earnings in the quarter ended Dec. 31, 2007, to Rs 406.70 million compared with Rs 208 million in the same quarter, last year. The consolidated total income for the quarter surged 55.31% to Rs 4,546.10 million compared with the corresponding quarter, a year ago.

United Breweries net drops 94.56% in Dec`07 qtr

Central Bank of India Q3 net jumps 50%
Leading public sector lender, Central Bank of India reported a jump of 49.90% in earnings in the quarter ended Dec. 31, 2007, to Rs 2,010.10 million compared with Rs 1,341 million in the same quarter, last year. The bank posted earnings per share of Rs 4.47 in the quarter ended December 2007.

Reliance Capital net up 86% in Dec`07 qtr Reliance Capital registered a 86.43% growth in net profit to Rs 1,352.40 million for the quarter ended December 2007 as compared with Rs 725.70 million for the corresponding quarter, last year.Net sales for the quarter rose 3.07 times to Rs 3,725.10 million as against Rs 1,212.40 million for the same quarter, a year ago.

Jindal Poly Films Q3 net jumps 2.21 times

Jindal Poly Films reported a robust growth of 2.21 times in earnings in the quarter ended Dec. 31, 2007, to Rs 266.9 million compared with Rs 120.8 million in the previous year period. Substantial rise in operating margin pushed the earnings of the company lower. Operating margin in the quarter climbed to 19.16%, representing a fall of 708 compared with prior year period. The earnings per share (EPS) for the quarter jumped 2.21 times to Rs 9.50 compared with Rs 4.30 in previous year period.


3i Infotech net down 46.43% in Dec`07 qtr

3i Infotech registered a steep drop of 46.43% in net profit of Rs 197.02 million for the quarter ended December 2007, as compared with Rs 367.81 million for the corresponding quarter last fiscal.
Net sales for the quarter rose 30.93% to Rs 1,028.37 million, as against Rs 785.45 million for the same quarter a year ago.
Total income for the quarter rose 26.64% to Rs 1,082.47 million as compared with Rs 854.74 million for the corresponding quarter last year.

Panacea Biotec net up 6.75% in Dec`07 qtr

Apollo Hospitals net rises 46.92% in Dec`07 qtr
Apollo Hospitals Enterprise disclosed a steady jump in net profit, for the quarter ended December 2007. During the quarter, the company experienced a 46.92% rise in profit to Rs 263 million, from Rs 179 million in the quarter ended December 2006.Net sales for the quarter rose 24.18% to Rs 2,891 million, compared with Rs 2,328 million in the corresponding quarter, a year ago.Total income rose 26.91% to Rs 2,971 million for the quarter ended December 2007 from Rs 2,341 million for the same period, last year.

ICI India Q3 earnings fall 97.17%
EID Parry swings to loss in Q3
Tata Coffee net down 13.99% in Dec`07 qtr

Engineers India net rises 26% in Dec`07 qtr
Engineers India disclosed a steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 26% rise in profit to Rs 502.50 million from Rs 398.80 million in the quarter ended December 2006.Net sales for the quarter rose 35.28% to Rs 1,774.50 million compared with Rs 1,311.70 million in the corresponding quarter, a year ago.

Cipla Q3 profit rises 14.25%; sales up 25.43%
Cipla, one of the largest drugmaker, reported a rise of 14.25% in earnings in the quarter ended Dec. 31, 2007, to Rs 2,106.50 million compared with Rs 1,843.80 million in the previous year period. The basic earnings per share (EPS) for the December 2007 quarter stood at Rs 2.71. Net sales for the quarter climbed 25.43% to Rs 11,044.90 million, while the total income for the quarter rose 24.49% to Rs 11,286.90 million, when compared with the corresponding quarter, a year ago.

Electrosteel Castings net drops 52.83% in Dec`07 qtr
Electrosteel Castings disclosed a steep drop in net profit for the quarter ended December 2007. During the quarter, the company experienced a 52.83% decline in profit to Rs 139.09 million, from Rs 294.90 million in the quarter ended December 2006

Ruchi Soya net up 58.50% in Dec`07 qtr
Ruchi Soya Industries registered a 58.50% growth in net profit to Rs 594.70 million for the quarter ended December 2007 as compared with Rs 375.20 million for the corresponding quarter, last fiscal.
Net sales for the quarter rose 12.03% to Rs 31,966.30 million as against Rs 28,533.60 million for the same quarter, a year ago.

Tulip IT net rises 96.85% in Dec`07 qtr
Tulip IT Services disclosed phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 96.85% rise in profit to Rs 540.91 million from Rs 274.77 million in the quarter ended December 2006.Net sales for the quarter rose 50.05% to Rs 3,330.82 million compared with Rs 2,219.86 million in the corresponding quarter, a year ago.

GMR Infra net rises 27 times in Dec`07 qtr
GMR Infrastructure disclosed phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 27.03 times rise in profit to Rs 156.80 million from Rs 5.80 million in the quarter ended December 2006.

Century Plyboards net rises 74.69% in Dec`07 qtr
Century Plyboards India disclosed a rise of 74.69% in net profit for the quarter ended December 2007. During the quarter, the company experienced a rise in profit to Rs 128.54 million from Rs 73.58 million in the quarter ended December 2006.Net sales for the quarter rose 31.25% to Rs 1,425.05 million compared with Rs 1,085.79 million in the corresponding quarter, a year ago

Wyeth Q3 earnings fall 24.27%; sales rise 17.63%

Marico net up 31% in Dec`07 qtr
Marico registered a 31.04% growth in net profit to Rs 402.30 million for the quarter ended December 2007 as compared with Rs 307 million for the corresponding quarter, last fiscal.

Alembic net rises 67.41% in Dec`07 qtr
Alembic disclosed a steep rise in net profit for the quarter ended December 2007. During the quarter, the company experienced a 67.41% rise in profits to Rs 420.20 million from Rs 251 million in the quarter ended December 2006.Net sales for the quarter rose 40.26% to Rs 2,606.20 million compared with Rs 1,858 million in the corresponding quarter, a year ago.


Avaya Global net down 30.82% for Dec`07 qtr

Shriram Transport Finance net up 86.03% in Dec`07 qtr
Shriram Transport Finance Company registered a 86.03% rise in net profit to Rs 1,071.00 million for the quarter ended December 2007, as against Rs 575.70 million for the same quarter, a year ago.

Varun Shipping net up 85.94% in Dec` 07 qtr
Varun Shipping Company registered a 85.94% rise in net profit to Rs 736.88 million for the quarter ended December 2007, as against Rs 396.29 million for the same quarter, a year ago.

Nitco Tiles net up 43.43% in Dec` 07 qtr
Nitco Tiles registered a 43.43% rise in net profit to Rs 132.01 million for the quarter ended December 2007, as against Rs 92.04 million for the same quarter, a year ago.

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Source: www.myiris.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.

SBI Q3 consolidated net up 56%

State Bank of India Q3 net up 70%
State Bank of India, the country's biggest bank, reported a 70 percent rise in its third-quarter net profit on Thursday, beating forecasts as strong demand for loans in the booming economy lifted earnings. The government-run bank, which plans to raise $4.3 billion in a rights share issue within the next few months, said net profit rose to 18.09 billion rupees ($458 million) in the December quarter, from 10.65 billion rupees in the same period the previous year. The average forecast given by 12 analysts in a Reuters poll put the bank's third-quarter net profit up 33.6 percent at 14.23 billion rupees. Forecasts ranged between 12.09 billion and 19.16 billion rupees. Rival ICICI Bank last week beat forecasts with a 35 percent rise in net profits and analysts say banks are likely to report the strongest quarterly earnings growth of all the top companies in India. SBI's deposits at the end of December grew 26 percent to 5,101.32 billion rupees from a year ago, while credit advances grew 25.6 percent to 3,953.43 billion rupees, the bank said in a statement. "The average yield on advances improved substantially to 9.93 percent in December 2007 from 8.61 percent in December 2006," it said.

Strong economic growth has increased the demand for loans in India but a series of monetary policy tightening steps by the central bank, including interest rate rises and higher bank reserve requirements, has raised the risk of defaults. The bank said its ratio of non-performing assets was 1.44 percent, marginally lower than 1.45 percent a year ago. SBI has nearly 10,000 branches and 200,000 employees. Along with its subsidiary banks, SBI controls nearly a quarter of India's banking business, but it is facing rising competition. ICICI Bank and HDFC Bank are stepping up their operations, and foreign banks such as HSBC Holdings, Standard Chartered Bank and Citigroup Inc also have ambitious plans for India. Ahead of the results SBI's shares closed 0.9 percent up at 2,345.90 rupees in a weak Mumbai market, which was down 2.1 percent. During the quarter the bank's shares rose 21.6 percent, outperforming the 16 percent rise in ICICI Bank's shares and a 17 percent rise in the Bombay Stock Exchange index .


SBI Q3 consolidated net up 56%

State Bank of India (SBI) today reported a 56% increase in consolidated net profit at Rs 2,383.66 crore for the third quarter ended December 31, 2007 when compared with Rs 1,524.42 crore in Q3FY07.According to a releas issued to the BSE today, income moved up to Rs 24,380.99 crore from Rs 17,045.13 crore in Q3FY07.The bank, on a stand-alone basis, posted a net profit of Rs 1,808.64 crore during the quarter ended December 31, 2007 when compared with Rs 1,065.06 crore for the quarter ended December 31, 2006. Total income increased from Rs 11,268.38 crore to Rs 15,364 crore for the quarter ended December 31, 2007.
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State Bank of India net profit rises 69.82% in the December 2007 quarter
Operating income rises 30.10% to Rs 12666.81 crore

Net profit of State Bank of India rose 69.82% to Rs 1808.64 crore in the quarter ended December 2007 as against Rs 1065.06 crore during the previous quarter ended December 2006. Total operating income rose 30.10% to Rs 12666.81 crore in the quarter ended December 2007 as against Rs 9735.94 crore during the previous quarter ended December 2006.



Source: Business Standard, Capital Market.

VC, PE updates,Jobs from VCCircle.com, Indiape.com

VCcircle.com


Spice Communications Mulling Dubai Listing
Cricket League Rights Announced; ICICI Venture Disqualified
SBI Buys 91% In Global Trade Finance For Rs 525 Crore
AV Birla Group To Start Private Equity Investments; Bharat Banka To Head It
TRAI Recommends 74% Foreign Direct Investment In Mobile TV

Hot Issue: Acme Tele Power Notches Up 5/5 IPO Grading From Crisil
Real Estate Firm Akruti City Raises Rs 1,500 Crore From Citi Venture, AIG
Times Group Raises $50 Million For Its OOH Media Biz From Goldman, Lehman
Microsoft Backs Electronic Recharge Company Oxigen
Wockhardt Hospitals IPO Opens End Of The Month; Pre-IPO Deals?

Rajat Sharma’s India TV Gets Rs 100 Crore Investment From Shyam Equities
Singapore’s CapitaLand Forms Real Estate JVs With Prestige, Advance India
ePlanet Ventures, DFJ Invest In Pakistani Internet Company Naseeb
JM Financial Invests Rs 72 Crore In E-Content Firm PreMedia Global
Dawnay Day Plans Investment Banking; Looking For A Head To Run The Biz

Mainland China Gets Rs 90 Crore Funding From SAIF Partners
OnMObile Makes Pre-IPO placement of 5% to Bessemer, George Soros
India’s First Hit Facebook Application Scrabulous May Be Sold
Ripe For Picking: Edelweiss Close To Issue Price
NBC Universal Picks Up 26% Stake In NDTV’s UK Subsidiary

RBI Reportedly Defers Approval Of 30 Foreign Real Estate Funds
UK Premier Promises Venture Capital Support To Indian Entrepreneurs
Vatika Gets $150M From Mauritius Entity Sponsored By Baer Capital, Goldman
Media Houses BCCL, NDTV Make Minor Investments In Emaar MGF
Citi Venture Exits Emaar MGF Partially At 4X Before IPO

Deutsche Bank Real Estate Arm RREEF Invests $70 Million In Golden Gate
Ballarpur Industries Gets $175 Million From GIC, JP Morgan
ICICI Venture Plans Three Funds; Mulls A Hedge Fund Too
Why RBI Is Not Clearing BNP Paribas Open Offer In Geojit
West Asian Seed Fund Singularity Ventures Launches In India

Tata Tele Shortlists Carlyle, Four Others For Tower Stake: Report
IIFCL To Set Up London Subsidiary For Infra Investments; To Hire Advisors
SEBI Wasn’t Sure, But Emaar MGF Lands Above Average Rating For Its IPO
SBI Ups PE Investments, Picks Up 8% In Orissa Infrastructure Company
ICICI Venture Buys Stake In Mumbai’s Express Towers; To Unlock Value In Publishing Business

ICICI Securities Listing Cleared By Board; To Dilute 10%
Mahindra Finance Raises Rs 414 Crore From TPG-Axon, Standard Chartered PE
Hyderabad Green Homes Project Gets $10 Million Private Equity Funding
Reliance Power, Future Capital Mopped Up $200 Billion In One Week
South-Focused Pragnya To Raise Its Second Real Estate Fund Worth $150M

Motilal Oswal Announces Final Closure Of Its PE Fund At $125 Million
Indiabulls Securities To Float $250-500 Million Private Equity Fund
Indian Angel Network Mumbai Invests $250K In Pune Data Backup Startup
Matrix India Invests $10 Million In Murjanis-owned Luxury Marketer BMI
Intel Capital Makes Series A Investment In 123Greetings.com

Edelweiss Says It Will Raise Rs 400 Crore For Its NBFC Arm
SSKI Contributes Rs 124 Crore To IDFC’s Income; Targets $3B AUM In 3 Years
KVK Energy To Give Dalal Street A Miss; To Raise $100M From AIM
PE-Backed Sharekhan Made More Money In Q3 Than It Did In Previous 6 Months
Exclusive: Singapore’s GIC To Invest Rs 150 Crore In Edelweiss NBFC Arm

GoAir Claims To Have Received Investor Interest Through Ernst & Young
Great Offshore Makes $500 Million Buy Overseas
AutoIndia.com Gets Angel Investment From A US Engineer
Jacob Ballas Too Picks Up Rs 40 Cr Worth Shares In Mahindra Holidays
PE-Backed Shriram EPC IPO Gets ‘Average’ Rating From Crisil
----------------------------------------------------------------------
INDIAPE.com

Birla group to enter PE business
Indiabulls buys DLF's stake in Kenneth Builders
Bankers, PE funds join IPL bidding
Parkway eyes 50% stake in Khubchandani
State Bank buys 91% in GTF for Rs 525cr
Microsoft picks up 35% stake in Oxigen
Goldman Sachs, Lehman buy stake in Times OOH
India TV receives strategic investment of Rs 100 cr
Deutsche Bank arm makes $70 mn Indian real estate
JM Financial India Fund invests Rs 72 crore in PreMedia Global
India's Jet, Kingfisher eye SriLankan stake
Rolta India acquires US-based TUSC
Baer Capital Partners invests in Vatika
GIC & JP Morgan to acquire 21% stake in Ballarpur Paper Holdings
California co acquires city ERP firm


Source: http://www.vccircle.com and www.indiape.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 gives up early gains, ends 372 pts

Sensex gives up early gains, ends 372 pts
Sensex ends 372 points lower after early
Volatility grips market; Sensex ends 2%


NIFTY 5033.45 -169.95
SENSEX 17221.74 -372.33


The Sensex opened with a bang this morning and sailed past 18,000 mark and much beyond to touch a high of 18,185.10 as the bulls continued from where they left yesterday afternoon. The Nifty shot up by over 150 points to 5357.20. A splendid recovery on Wall Street and firm Asian markets were the triggers that were in play.
And, despite turning a bit choppy at times, the market held on in the positive territory till about mid afternoon. Then, after a couple of sharp slides, the market plunged deep into the red as stocks across the board wilted under a severe bout of selling pressure.
Reeling under the onslaught, the Sensex crashed to 17,070.05, recording a fall of over 1100 points from its intra-day high and the Nifty tumbled to 4995.80. Though the market managed a few sharp rallies from lower levels in late afternoon trade, it was a highly negative close in the end for the premier indices today.
While the Sensex closed with a loss of 372.33 points or 2.12% at 17,221.74, the Nifty ended at 5033.45 with a loss of 3.27% or 169.95 points.
Realty, power, metal and capital goods stocks went down sharply. Auto, PSU and healthcare stocks also felt the heat. Bank and information technology stocks, which were seen faring relatively better, turned easy during the final hour of trade.
Mid and smallcap stocks took a severe beating this afternoon. Though there was a rebound during the fag end, the Midcap and Smallcap indices still ended the ended the day with sharp losses.
Among Sensex stocks, only HDFC (3.25%), State Bank of India (0.95%), Satyam Computer Services (1.8%), Reliance Communications (1.65%) and Bharti Airtel (0.7%) bucked the trend. ACC finished with a marginal gain.
NTPC (down 8.9%) was the most prominent loser in the Sensex. Reliance Energy closed with a big loss of 8.75%. Heavyweight stock Reliance Industries eased by around 2.5%. Bajaj Auto, Cipla, DLF, Grasim Industries, Hindalco, Larsen & Toubro, Maruti Suzuki, ONGC, Tata Steel and Wipro lost 3% - 6%.
Ambuja Cements, BHEL, HDFC Bank, Hindustan Unilever, ITC, ICICI Bank, Mahindra & Mahindra, Ranbaxy Laboratories, Tata Motors and Tata Consultancy Services also ended with sharp losses today. IT bellwether Infosys Technologies closed marginally down at Rs 1420.60.
Suzlon Energy, which eased by over 9%, was the biggest loser in the Nifty today. GAIL India dropped down by 8.85%. SAIL lost a little over 8%. Zee Entertainment, Dr. Reddy's Laboratories, Sterlite Industries, ABB, Siemens, Nalco, VSNL, Unitech, Sun Pharmaceuticals, Reliance Petroleum, HCL Technologies, Tata Power and Cairn India also finished with sharp losses.
Hero Honda shot up by over 7%. Punjab National Bank ended stronger by 3.2% on buoyant results. Idea Cellular closed with a gain of over 2.5% at Rs 114.20.
Gujarat Narmada, Birla Corporation, Bank of India, Bombay Dyeing, Lanco Infratech, Hindustan Zinc, Jindal Steel, Sterlite Technologies, GE Shipping, Edelweiss Capital, Polaris, Jindal Stainless, Hinduja Ventures, Neyveli Lignite Corporation and Raymond were among the major losers in BSE 'A' Group.
Bongaigon Refinery moved up by nearly 8% on strong quarterly results. LIC Housing Finance, Tata Tea, Indian Oil Corporation, Tata Elxsi, Cadila Healthcare, Asahi India, Pidilite Industries, Chennai Petroleum Corporation, Finolex Industries, Gujarat Gas, Indian Overseas Bank and Idea Cellular also ended on a firm note.
The market breadth was very weak today. Out of 2741 stocks traded on BSE, 2341 stocks closed weak. 385 stocks ended with gains while 15 stocks ended at their previous closing levels.

---------------------------------------------------------
Sensex sheds 372 points in choppy trade

The market tumbled today as selling pressure emerged in index pivotals in the second half of the day. Nonetheless, it recovered some ground after a massive fall in afternoon trade. Earlier today, the market had surged in opening trade tracking rally in Asian markets. The market breadth was quite weak.
European markets opened on a strong note today while majority of Asian markets settled higher.
The BSE 30-share Sensex declined 372.33 points or 2.12% to 17,221.74. Sensex hit a low of 17,070.05, in afternoon trade. At the day's low, Sensex had lost 524.02 points. Sensex had opened with an upward gap of 326.91 points at 17,920.98 and surged further to hit a high of 18,185.10 in early trade. At the day's high, Sensex rose 591.03 points. Sensex oscillated in a wide range of 1115.05 points in highly volatile trade.
The broader CNX S&P Nifty slipped 169.95 points or 3.27% to 5,033.45. It hit a high of 5,357.20 and low of 4,995.80.
Nifty January 2008 futures were at 5001, a steep discount of 32.45 points as compared to spot closing
The BSE Mid-Cap index was down 3.23% to 7,537.90 while the BSE Small-Cap index was down 3.95% to 10,013.96. Both these indices underperformed the Sensex
The market breadth was weak on BSE: 2328 shares declined as compared to 400 that advanced. 16 shares remained unchanged. 23 out of 30 stocks from the Sensex pack declined.
The total turnover on BSE amounted to Rs 6364 crore as compared to Rs 7133 crore yesterday 23 January 2008.
The total turnover in NSE’s futures & options segment amounted to Rs 39442 crore as compared to Rs 36073.86 crore yesterday 23 January 2008
All Sectoral indices on BSE settled with losses. BSE Bankex (down 1.38% at 10,582.88), BSE IT index (down 1.20% at 3,587.78), BSE TecK index (down 0.70% to 3,225.77), BSE FMCG index (down 1.80% at 2,062.43), outperformed the Sensex
BSE Oil & Gas index (down 3.22% at 10,497.95), BSE PSU index (down 4.10% to 8,152.51), BSE Auto (down 2.31% at 4,567.13), BSE Consumer Durables index (down 3.59% to 4,995.25), BSE Power index (down 5.33% at 3,733.47), BSE Realty index (down 4.41% at 10,141.82), BSE Metal index (down 5.70% at 14,220.68), BSE Capital Goods index (down 4.87% at 16,382.48), BSE Health Care index (down 3.60% at 3,496.68), underformed the Sensex
Finance Minister P Chidambaram today said that some more measures would be taken to moderate capital inflows. He said there was a need to moderate some capital inflows without hurting the flow of capital that stimulates the economy.
Reliance Energy, the country’s largest power utility in terms of net profit declined 9.29% to Rs 1805. It was the top loser from Sensex pack. The stock moved in a wide range of Rs 1751.10 to Rs 2095.
India’s largest generation company in terms of net profit National Thermal Power Corporation (NTPC) slumped 8.81% to Rs 204 on profit booking. The stock had hit a high of Rs 229.90 in early trade. NTPC had surged 13.73% yesterday, 23 January 2008 on reports the company plans to invest Rs 1,729 crore for development of the Jharkhand coal mine.
India’a largest private sector firm by market capitalization and oil refiner Reliance Industries declined 2.75% to Rs 2484.70, off its early high of Rs 2640. 12.41 lakh shares changed hands on the counter on BSE
Hindalco (down 6.71% to Rs 150.05), Oil & Natural Gas Corporation (down 5.53% to Rs 937) and Wipro (down 6.05% to Rs 405) were the other losers from Sensex pack.
India’s largest dedicated housing finance company in terms of revenue Housing Development Finance Corporation gained 3.13% to Rs 2611. The stock swung wildly in band of Rs 2521 and Rs 2729. It was the top gainer from Sensex pack.
Satyam Computer Services (up 2.01% to Rs 401), ACC (up 1.56% to Rs 762), and Reliance Communications (up 1.10% to Rs 621.25),were the other gainers from Sensex pack
ICICI Bank, the country’s largest private sector bank in terms of net profit was down 1.37% to Rs 1135.05, off day’s high of Rs 1246. As pere reports, ICICI Securities, the investment banking and broking unit of ICICI Bank reportedly aims to raise up to $1 billion through a pre-IPO placement of shares.
India's biggest commercial bank State Bank of India rose 0.90% to Rs 2345. The bank unveils its Q3 December 2007 results today.
India’s biggest private sector engineering company in terms of order book Larsen & Toubro slipped 5.17% to Rs 3555 despite securing orders worth Rs 1057 crore from the Gulf region on Wednesday, 23 January 2008.
India’s largest FMCG company in terms of revenue Hindustan Unilever declined 3% to Rs 183.90. It was strong throughout the day, but slipped in late trade. It had touched high of Rs 202.90 during the day
India’s largest cellular services provider in terms of market capitalisation Bharti Airtel was up 0.62% to Rs 852 on high volume of 16.70 lakh shares. A single block deal of 12.72 lakh shares was executed in the stock on BSE at Rs 850.50 by 10:16 IST.
India’s largest real estate developer in terms of market capitalisation DLF slipped 2.02% to Rs 905.
Reliance group stocks dominated turnover charts. Reliance Natural Resources was the most active counter on BSE with turnover of Rs 408 crore followed by Reliance Industries (Rs 313.60 crore), Reliance Petroleum (Rs 304.30 crore), Reliance Energy (Rs 175.25 crore) and Reliance Capital (Rs 169.75 crore).
Ispat Industries was the volume topper with total volume of 2.95 crore shares followed by Reliance Natural Resources (2.91 crore shares), Reliance Petroleum (1.81 crore shares), Tata Teleservices (Maharashtra) (1.22 crore shares) and IFCI (1.21 crore shares).
Polaris Software Lab tumbled 10.21% to Rs 77.35 after the company reported 7.08% rise in net profit to Rs 13.46 crore on 1.21% increase in sales to Rs 239.31 crore in Q3 December 2007 over Q2 September 2007.
Ballarpur Industries rose 4.72% to Rs 147.40 on reporting 7.3% rise in net profit to Rs 66.70 crore on 2% rise in net sales to Rs 562.48 crore in Q2 December 2007 over Q2 December 2006.
PBA Infrastructure slipped 2.54% to Rs 98 after the company said it has bagged orders worth Rs 150.77 crore from Pimpri Chinchwad Municipal Corporation and Municipal Corporation of Greater Mumbai.
Shree Renuka Sugars was down 0.66% to Rs 860. Its board of directors approved splitting each share of Rs 10 into ten shares of Re 1 each.
Punjab National Bank surged 3.66% to Rs 624 on reporting 25.96% growth in net profit to Rs 541.45 crore on 25.93% rise in total income to Rs 4119.57 crore in Q3 December 2007 over Q3 December 2006.
Reliance Capital slipped 8.10% to Rs 1811 despite reporting 86.35% rise in net profit to Rs 135.24 crore on 209.68% rise in total income to Rs 375.46 crore in Q3 December 2007 over Q3 December 2006.
Bongaigaon Refinery & Petrochemicals jumped 8.09% to Rs 64.15 on reporting 143.5% surge in net profit to Rs 84.90 crore on 6.60% rise in net sales to Rs 1462.22 crore in Q3 December 2007 over Q3 December 2006.
Entertainment Network (India) soared 6.23% to Rs 465 after the company said it sold 16.5% stake in its outdoor advertising unit Times Innovative Media to foreign investors for a total of Rs 200 crore.
Hindustan Zinc declined 10.37% to Rs 569 on reporting 41.2% fall in net profit to Rs 785 crore on 33.10% fall in net sales to Rs 1658 crore in Q3 December 2007 over Q3 December 2006
Third quarter December 2007 results so far have been decent. A total of 624 companies reported 42.30% rise in net profit on 22.20% rise in net sales for Q3 December 2007 over Q3 December 2006.
There is a liquidity crunch in the secondary market at the moment with a lot of money tied up to the recently concluded mega Rs 11000-crore IPO of Reliance Power which was massively oversubscribed. The IPO was closed on Friday, 18 January 2008.
European markets were trading strong today. Key benchmark indices in United Kingdom (up 3.11% to 5,783.60), Germany (up 4.60% to 6,734) and France (up 4.24% to 4,833.10) surged
Most Asian markets settled higher today 24 January 2008. Japan's Nikkei (up 2.06% at 13,092.78), Singapore's Straits Times (up 2.23% at 3,050.09), Taiwan's Taiwan Weighted (up 1.47% at 7,517.05), South Korea's Seoul Composite (up 2.12% at 1,663) and China’s Shanghai Composite (up 0.31% to 4,717.34) registered gains.
However Hong Kong slipped 2.29% to 23,539.27 after initial spurt.
China expects a mild slowdown in growth this year, the head of the National Bureau of Statistics said on Thursday, 24 January 2008, after reporting that annual GDP growth eased to 11.2% in the fourth quarter of 2007 from 11.5% in the third.
US stocks snapped a five-day losing streak on Wednesday on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses. The market also drew support from growing confidence that aggressive interest-rate cuts by the Federal Reserve could help stabilize the economy and support the beleaguered banking sector. The Dow Jones industrial average surged 298.98 points, or 2.5% at 12,270.17, after plunging almost 350 points in early trade. The Standard & Poor's 500 index advanced 28.10 points, or 2.14%, to 1,338.60, while the Nasdaq Composite index shot up 24.14 points, or 1.05%, to 2,316.41.
Back home, the market had bounced back on Wednesday, 23 January 2008, after a bloodbath witnessed on the street in the previous two trading sessions when share prices had declined like nine pins. US Federal Reserve came to the rescue cutting key US interest rates by a steep 75 basis points to 3.5% late on Tuesday, 22 January 2008, after Indian markets had closed. The US central bank's move followed two days of steep losses in Asian and European equities on worries that a deteriorating US economy would drag other regions down with it. The US economy has been hit hard by rising defaults in the sub-prime mortgage sector in which Americans with bad credit records are struggling to pay back housing loans given to them during the housing boom.
Margin calls had created havoc on the Indian bourses in causing a steep decline in share prices that was initially triggered by a setback in global markets and selling by foreign institutional investors. The BSE Sensex had tumbled 2283.76 points or 12.01% to 16,729.94 on Tuesday, 22 January 2008 from its close of 19,013.70 on Friday, 18 January 2008.
Margin trading is where investors trade shares without paying the full cost of the share. Instead a margin or percentage is paid as collateral, and when the market moves against the investor, the margin needs to be topped up. If the investor does not make payment, the shares can be sold by the broker. A margin call is also triggered when shares that an investor had bought with borrowed money decrease in value. If the investor is not able to put up additional margin, the broker/financer will resort to sale of shares.


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Cipla's Q3 net up14.7% at Rs 211 cr
Engineers India Q3 net rises 26% at Rs 50.25 cr

Jain Irrigation Q3 net at Rs 44.9 cr
Punjab National Bank Q3 net up 25.96% at Rs 541.45 cr
Vishal Retail Oct-Dec net at Rs 15.56 cr
GTL Q3 net up 95.53% at Rs 40.67 cr
HDIL Q3 net at Rs 270.23 cr
Central Bank of India Q3 net up 49.9% at Rs 201.01 cr

Reliance Capital Q3 net up 86.36% at Rs 135.24 cr
Pyramid Saimira buys majority stake in gaming firm
Davos agenda 2008




Source: Sify.com, Capital Market.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.