West Coast Paper net up 35.98% for Dec `07 qtr
West Coast Paper Mills registered 35.98% growth in net profit to Rs 221.11 million for the quarter ended Dec. 31, 2007, from Rs 162.60 million in the corresponding quarter last fiscal. Net sales stood at Rs 1443.87 million in the quarter ended Dec. 31, 2007, as against Rs 1348.38 million in the same period last year, recording a growth of 7.08%.
Total income reported a 7.58% increase to Rs 1474.71 million for the quarter ended Dec. 31, 2007 from Rs 1370.85 million for the same period last year.
Bombay Dyeing swings to loss in Dec`07 qtr
Bombay Dyeing & Mfg Company swung to loss for the quarter ended December 2007. During the quarter the company reigistered a net loss of 370 million as compared with a profit of Rs 72.10 million in the corresponding quarter last fiscal.Net sales for the quarter rose 2.73 times to Rs 2,916.00 million as against Rs 1,066.30 million for the same quarter a year ago.
Dabur India net rises 22.87% in Dec `07 qtr
Dabur India, disclosed steady a jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 22.87% rise in profit to Rs 881.40 million from Rs 717.30 million in the quarter ended December 2006.Net sales for the quarter rose 1.52% to Rs 5,164.40 million compared with Rs 5,087 million in the corresponding quarter, a year ago.Total income rose 1.97% to Rs 5,207.10 million for the quarter ended December 2007 from Rs 5,106.40 million for the same period last year.
Usha Martin consolidated net rises marginally in Q3
Usha Martin, leading producer of specialty steel and one of the largest wire rope manufacturers globally has posted improved performance on consolidated basis. During the 3rd quarter of the financial year 2007-08, the consolidated sales, net of excise duty and inter unit/division sales registered a growth of 16% at Rs 5,552.1 million compared to Rs 4,803.8 million during the corresponding period last year. The profit after tax rose to Rs 412.3 million from Rs 399.5 million, a rise of 3%.During the nine months ending December 2007, the consolidated sales, net of excise duty and inter-unit/division sales registered a growth of 12% at Rs 16,362.7 million compared to Rs 14,660.0 million during the corresponding period last year. The profit after tax to Rs 1,248.6 million from Rs 981.5 million, an increase of 27%. EPS for the period increased by 13% to Rs 4.99 from Rs 4.42.The captive consumption of steel for down stream value addition has registered a growth of over 3% at 130,285 MT as compared to 126,010 MT in the nine months period of corresponding period last year.On Standalone basis, Usha Martin, (Q, N,C,F)* disclosed steady jump in net profit for the quarter ended in December 2007. During the quarter, the company experienced a 14.22% rise in profits to Rs 324.50 million from Rs 284.10 million in the quarter ended December 2006.
Gujarat Narmada Valley net up 2.37 times for Dec `07 qtr
Gujarat Narmada Valley Fertilizers Company registered 2.37 times growth in net profit to Rs 1237.60 million for the quarter ended Dec. 31, 2007, from Rs 521.90 million in the corresponding quarter last fiscal. Net sales stood at Rs 8316.50 million in the quarter ended Dec. 31, 2007, as against Rs 5230.80 million in the same period last year, recording a growth of 58.99%.
Elecon Engineering net rises 13.02% in Dec `07 qtr
Elecon Engineering Company, disclosed a steady rise in net profit for the quarter ended in December 2007. During the quarter, the company experienced a 13.02% rise in profit to Rs 165.85 million from Rs 146.74 million in the quarter ended December 2006.Net sales for the quarter rose 10.10% to Rs 1,852.42 million, compared with Rs 1,682.42 million in the corresponding quarter, a year ago
BGR Energy net at Rs 218.21 mn for Dec`07 qtr
Chennai-based BGR Energy (Q, N,C,F)* Systems, which recently got listed on the bourses (Jan. 3), clocked net profit of Rs 218.21 million, on net sales of Rs 3,827.57 million for the latest quarter ended December 2007.
The company posted total income of Rs 3,830.25 million and its diluted EPS stood at Rs 3.29.
BGR Energy is a company engaged in manufacturing and selling of energy products such as on-line condenser tube cleaning systems, debris filters, and rubber cleaning balls used in thermal and nuclear power plants. BGR Energy has manufacturing facilities at Panjetty near Chennai.
Bilcare net up 16.83% for Dec`07 qtr
Pune-based Bilcare reported 16.83% increase in net profit to Rs 165.90 million for the quarter ended December 2007 as compared with Rs 142.00 million in the corresponding quarter, last fiscal.
Asian Paints net rises 64.88% in Dec`07 qtr
Asian Paints disclosed a steady jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 64.88% rise in profit to Rs 1,076.90 million from Rs 653.15 million in the quarter ended December 2006.Net sales for the quarter rose 29.78% to Rs 9,162.40 million compared with Rs 7,059.71 million in the corresponding quarter, a year ago.Total income rose 30.19% to Rs 9,331.30 million for the quarter ended December 2007 from Rs 7,167.50 million for the same period, last year
NALCO net declines 42.46% in Dec`07 qtr
State-run National Aluminium Company (NALCO) reported 42.46% decline in net profit to Rs 3,294.40 million for the quarter ended December 2007 as compared with Rs 5,726.00 million in the corresponding quarter, last fiscal.
Net sales for the quarter declined 23.42% to Rs 11,093.10 million, as against Rs 14,485.70 million for the corresponding quarter, a year ago.
Total income for the quarter slid 19.34% to Rs 12,472.60 million from Rs 15,464.00 million in the same quarter, a year ago.
Pearl Global net soars 44.75% for Dec`07 qtr
Nilkamal Q3 net zooms 40 times
Nilkamal registered a growth of 40.02 times in net profit to Rs 404.56 million for the quarter ended December 2007 as compared with Rs 10.11 million for the corresponding quarter, last fiscal.Net sales for the quarter rose 74.02% to Rs 1,885.66 million as against Rs 1,083.61 million for the same quarter, a year ago.
Prajay Engineers net up 4.30 times in Dec`07 qtr
Prajay Engineers Syndicate registered a 4.30 times growth in net profit to Rs 655.26 million for the quarter ended December 2007 as compared with Rs 152.24 million for the corresponding quarter, last fiscal.Net sales for the quarter rose 3.26 times to Rs 1,369.56 million as against Rs 420.75 million for the same quarter, a year ago.
Basant Agro Tech net jumps 72.34% in Dec`07 qtr
Gokaldas Exports net down 3.57% in Dec`07 qtr
Kirloskar Electric net rises 52% in Dec`07 qtr
Kirloskar Electric Company registered a 52.02% rise in net profit to Rs 67.8 million for the quarter ended December 2007, compared with Rs 44.6 million for the same quarter, a year ago.
Surya Pharmaceutical net up 71.96% in Dec`07 qtr
Surya Pharmaceutical registered a 71.96% rise in net profit to Rs 119.72 million for the quarter ended December 2007, compared with Rs 69.62 million for the same quarter, a year ago.
India Glycols net up 6.59 times in Dec`07 qtr
India Glycols registered a 6.59 times rise in net profit to Rs 675.00 million for the quarter ended December 2007, compared with Rs 102.40 million for the same quarter, a year ago.
V I P Industries net jumps 67.18 times in Dec`07 qtr
VIP Industries registered a growth of 67.18 times in net profit to Rs 73.90 million for the quarter ended December 2007 as compared with Rs 1.10 million for the corresponding quarter, last fiscal.
Videocon Appliances net down 58.08% in Dec`07 qtr
Shoppers Stop net dips 89% in Dec`07 qtr
Mumbai-based large format department stores operator Shoppers Stop reported 88.93% decline in net profit to Rs 15.58 million for the quarter ended December 2007 as compared with Rs 140.70 million in the corresponding quarter, last fiscal.
Source: http://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.
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.
29 January 2008
Mittal, Ambanis, Premji among world's wealthiest CEOs
Mittal, Ambanis, Premji among world's wealthiest CEOs
NEW YORK: Steel tycoon Lakshmi Mittal along with Ambani brothers - Mukesh and Anil, are among the 10 wealthiest CEOs in the world, according to American magazine Forbes.
Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th). The list has been topped by Warren Buffet, the Chief Executive of Berkshire Hathaway with a fortune of 52 billion dollars.
Arcelor Mittal chief Lakshmi Mittal has a net worth of 32 billion dollars, while Mukesh Ambani and Anil Ambani have fortunes worth 20.1 billion dollars and 18.2 billion dollars, respectively. Chief of IT bellweather Wipro Azim Premji has a net worth of 17.1 billion dollars.
However, these net worth figures are not current and have been taken from a list prepared almost a year back for Indian businessmen and from a September list for those from the US.
Forbes said that the list of wealthiest CEOs was prepared after perusing the ranks of the Forbes 400 list of the richest Americans from September and its annual billionaires' list from last March.
"We found the 10 richest CEOs around, some of whom founded their own companies, others who benefited from large inheritances and still others who built their fortunes through other means," the magazine said.
About Mukesh Ambani the Chairman and Managing Director of country's most valued firm Reliance Industries, the magazine said: "Ambani fulfils the duties of CEO at his company, even though he doesn't carry the title."
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.
NEW YORK: Steel tycoon Lakshmi Mittal along with Ambani brothers - Mukesh and Anil, are among the 10 wealthiest CEOs in the world, according to American magazine Forbes.
Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th). The list has been topped by Warren Buffet, the Chief Executive of Berkshire Hathaway with a fortune of 52 billion dollars.
Arcelor Mittal chief Lakshmi Mittal has a net worth of 32 billion dollars, while Mukesh Ambani and Anil Ambani have fortunes worth 20.1 billion dollars and 18.2 billion dollars, respectively. Chief of IT bellweather Wipro Azim Premji has a net worth of 17.1 billion dollars.
However, these net worth figures are not current and have been taken from a list prepared almost a year back for Indian businessmen and from a September list for those from the US.
Forbes said that the list of wealthiest CEOs was prepared after perusing the ranks of the Forbes 400 list of the richest Americans from September and its annual billionaires' list from last March.
"We found the 10 richest CEOs around, some of whom founded their own companies, others who benefited from large inheritances and still others who built their fortunes through other means," the magazine said.
About Mukesh Ambani the Chairman and Managing Director of country's most valued firm Reliance Industries, the magazine said: "Ambani fulfils the duties of CEO at his company, even though he doesn't carry the title."
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.
Results: KVB, Tata power, Kalpataru, Adani, Torrentpower, JK cement, Havells, HOEL, SELmanu, AlliedDigital, Numeric
Allied Digital Services reports net profit of Rs 12.10 crore in the December 2007 quarter
Allied Digital Services reported net profit of Rs 12.10 crore in the quarter ended December 2007. Sales reported at Rs 79.29 crore in the quarter ended December 2007
Axis Capital Markets India net profit rises 191.67% in the December 2007 quarter
Shringar Cinemas net profit declines 1.37% in the December 2007 quarter
Numeric Power Systems net profit rises 68.96% in the December 2007 quarter
Net profit of Numeric Power Systems rose 68.96% to Rs 10.56 crore in the quarter ended December 2007 as against Rs 6.25 crore during the previous quarter ended December 2006. Sales rose 42.97% to Rs 100.38 crore in the quarter ended December 2007 as against Rs 70.21 crore during the previous quarter ended December 2006.
Bannari Amman Sugars net profit declines 90.69% in the December 2007 quarter
Ferro Alloys Corporation net profit rises 359.20% in the December 2007 quarter
Nitin Fire Protection Industries reports net profit of Rs 2.88 crore in the December 2007 quarter
V I P Industries net profit rises 6618.18% in the December 2007 quarter
SEL Manufacturing Company reports net profit of Rs 13.62 crore in the December 2007 quarter
SEL Manufacturing Company reports net profit of Rs 13.62 crore in the December 2007 quarter
SEL Manufacturing Company reported net profit of Rs 13.62 crore in the quarter ended December 2007. Sales reported at Rs 99.87 crore in the quarter ended December 2007
Precision Pipes & Profiles Company reports net profit of Rs 4.24 crore in the December 2007 quarter
Precision Pipes & Profiles Company reported net profit of Rs 4.24 crore in the quarter ended December 2007. Sales reported at Rs 28.78 crore in the quarter ended December 2007.
Adhunik Metaliks net profit rises 0.40% in the December 2007 quarter
Phoenix Lamps net profit rises 77.63% in the December 2007 quarter
Karur Vysya Bank net profit rises 77.28% in the December 2007 quarter
Net profit of Karur Vysya Bank rose 77.28% to Rs 46.43 crore in the quarter ended December 2007 as against Rs 26.19 crore during the previous quarter ended December 2006. Total operating income rose 34.30% to Rs 302.54 crore in the quarter ended December 2007 as against Rs 225.28 crore during the previous quarter ended December 2006.
Jayaswal Neco Industries net profit rises 142.77% in the December 2007 quarter
Net profit of Jayaswal Neco Industries rose 142.77% to Rs 12.60 crore in the quarter ended December 2007 as against Rs 5.19 crore during the previous quarter ended December 2006. Sales rose 2.58% to Rs 336.78 crore in the quarter ended December 2007 as against Rs 328.30 crore during the previous quarter ended December 2006
Nippo Batteries Company net profit rises 291.18% in the December 2007 quarter
Hindustan Oil Exploration Company reports net loss of Rs 2.48 crore in the December 2007 quarter
Hindustan Oil Exploration Company reported net loss of Rs 2.48 crore in the quarter ended December 2007 as against net profit of Rs 8.19 crore during the previous quarter ended December 2006. Sales declined 89.79% to Rs 3.35 crore in the quarter ended December 2007 as against Rs 32.80 crore during the previous quarter ended December 2006.
Coromandel Agro Products and Oils net profit rises 56.10% in the December 2007 quarter
Sakthi Sugars reports net loss of Rs 5.79 crore in the December 2007 quarter
Sakthi Sugars reported net loss of Rs 5.79 crore in the quarter ended December 2007 as against net profit of Rs 6.04 crore during the previous quarter ended December 2006. Sales declined 1.32% to Rs 152.03 crore in the quarter ended December 2007 as against Rs 154.07 crore during the previous quarter ended December 2006.
Jay Shree Tea & Industries net profit rises 62.35% in the December 2007 quarter
Net profit of Jay Shree Tea & Industries rose 62.35% to Rs 5.52 crore in the quarter ended December 2007 as against Rs 3.40 crore during the previous quarter ended December 2006. Sales rose 10.96% to Rs 75.22 crore in the quarter ended December 2007 as against Rs 67.79 crore during the previous quarter ended December 2006
Rohit Ferro Tech net profit rises 309.16% in the December 2007 quarter
Rohit Ferro Tech net profit rises 309.16% in the December 2007 quarter
Net profit of Rohit Ferro Tech rose 309.16% to Rs 20.09 crore in the quarter ended December 2007 as against Rs 4.91 crore during the previous quarter ended December 2006. Sales rose 219.79% to Rs 139.91 crore in the quarter ended December 2007 as against Rs 43.75 crore during the previous quarter ended December 2006.
Eicher Motors net profit declines 11.41% in the December 2007 quarter
Net profit of Eicher Motors declined 11.41% to Rs 15.76 crore in the quarter ended December 2007 as against Rs 17.79 crore during the previous quarter ended December 2006. Sales rose 10.92% to Rs 547.75 crore in the quarter ended December 2007 as against Rs 493.82 crore during the previous quarter ended December 2006
Akruti City net profit rises 343.06% in the December 2007 quarter
Net profit of Akruti City rose 343.06% to Rs 72.13 crore in the quarter ended December 2007 as against Rs 16.28 crore during the previous quarter ended December 2006. Sales rose 54.32% to Rs 131.45 crore in the quarter ended December 2007 as against Rs 85.18 crore during the previous quarter ended December 2006.
Havells India net profit rises 43.41% in the December 2007 quarter
Net profit of Havells India rose 43.41% to Rs 37.00 crore in the quarter ended December 2007 as against Rs 25.80 crore during the previous quarter ended December 2006. Sales rose 36.76% to Rs 534.60 crore in the quarter ended December 2007 as against Rs 390.90 crore during the previous quarter ended December 2006
J K Cements net profit rises 59.76% in the December 2007 quarter
Net profit of J K Cements rose 59.76% to Rs 80.20 crore in the quarter ended December 2007 as against Rs 50.20 crore during the previous quarter ended December 2006. Sales rose 22.23% to Rs 389.90 crore in the quarter ended December 2007 as against Rs 319.00 crore during the previous quarter ended December 2006.
Torrent Power net profit rises 116.07% in the December 2007 quarter
Net profit of Torrent Power rose 116.07% to Rs 59.29 crore in the quarter ended December 2007 as against Rs 27.44 crore during the previous quarter ended December 2006. Sales rose 36.20% to s 862.60 crore in the quarter ended December 2007 as against Rs 633.33 crore during the previous quarter ended December 2006.
PG Foils net profit rises 102.44% in the December 2007 quarter
Som Distilleries & Breweries net profit rises 367.44% in the December 2007 quarter
ITI reports net loss of Rs 117.91 crore in the December 2007 quarter
Prithvi Information Solutions net profit rises 21.52% in the December 2007 quarter
Net profit of Prithvi Information Solutions rose 21.52% to Rs 28.40 crore in the quarter ended December 2007 as against Rs 23.37 crore during the previous quarter ended December 2006. Sales rose 46.34% to Rs 291.73 crore in thequarter ended December 2007 as against Rs 199.35 crore during the previous quarter ended December 2006
Universal Cables net profit rises 16.00% in the December 2007 quarter
Ador Welding net profit declines 80.27% in the December 2007 quarter
Adani Enterprises net profit rises 226.24% in the December 2007 quarter
Net profit of Adani Enterprises rose 226.24% to Rs 120.74 crore in the quarter ended December 2007 as against Rs 37.01 crore during the previous quarter ended December 2006. Sales rose 20.62% to Rs 3166.42 crore in the quarter ended December 2007 as against Rs 2625.18 crore during the previous quarter ended December 2006.
HMT reports net loss of Rs 15.75 crore in the December 2007 quarter
Kalpataru Power Transmission net profit declines 21.93% in the December 2007 quarter
Net profit of Kalpataru Power Transmission declined 21.93% to Rs 30.29 crore in the quarter ended December 2007 as against Rs 38.80 crore during the previous quarter ended December 2006. Sales declined 10.57% to Rs 351.94 crore in the quarter ended December 2007 as against Rs 393.53 crore during the previous quarter ended December 2006.
Wire & Wireless India reports net loss of Rs 30.92 crore in the December 2007 quarter
Ciba India net profit rises 80.00% in the December 2007 quarter
Net profit of Ciba India rose 80.00% to Rs 5.40 crore in the quarter ended December 2007 as against Rs 3.00 crore during the previous quarter ended December 2006. Sales rose 12.28% to Rs 126.20 crore in the quarter ended December 2007 as against Rs 112.40 crore during the previous quarter ended December 2006.
Mcleod Russel India net profit rises 37.72% in the December 2007 quarter
J B Chemicals & Pharamaceuticals net profit declines 45.31% in the December 2007 quarter
Tata Power Company net profit declines 29.52% in the December 2007 quarter
Net profit of Tata Power Company declined 29.52% to Rs 197.28 crore in the quarter ended December 2007 as against Rs 279.90 crore during the previous quarter ended December 2006. Sales rose 18.23% to Rs 1419.40 crore in the quarter ended December 2007 as against Rs 1200.51 crore during the previous quarter ended December 2006.
Dredging Corporation of India net profit declines 34.95% in the December 2007 quarter
HOV Services net profit declines 92.11% 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.
Allied Digital Services reported net profit of Rs 12.10 crore in the quarter ended December 2007. Sales reported at Rs 79.29 crore in the quarter ended December 2007
Axis Capital Markets India net profit rises 191.67% in the December 2007 quarter
Shringar Cinemas net profit declines 1.37% in the December 2007 quarter
Numeric Power Systems net profit rises 68.96% in the December 2007 quarter
Net profit of Numeric Power Systems rose 68.96% to Rs 10.56 crore in the quarter ended December 2007 as against Rs 6.25 crore during the previous quarter ended December 2006. Sales rose 42.97% to Rs 100.38 crore in the quarter ended December 2007 as against Rs 70.21 crore during the previous quarter ended December 2006.
Bannari Amman Sugars net profit declines 90.69% in the December 2007 quarter
Ferro Alloys Corporation net profit rises 359.20% in the December 2007 quarter
Nitin Fire Protection Industries reports net profit of Rs 2.88 crore in the December 2007 quarter
V I P Industries net profit rises 6618.18% in the December 2007 quarter
SEL Manufacturing Company reports net profit of Rs 13.62 crore in the December 2007 quarter
SEL Manufacturing Company reports net profit of Rs 13.62 crore in the December 2007 quarter
SEL Manufacturing Company reported net profit of Rs 13.62 crore in the quarter ended December 2007. Sales reported at Rs 99.87 crore in the quarter ended December 2007
Precision Pipes & Profiles Company reports net profit of Rs 4.24 crore in the December 2007 quarter
Precision Pipes & Profiles Company reported net profit of Rs 4.24 crore in the quarter ended December 2007. Sales reported at Rs 28.78 crore in the quarter ended December 2007.
Adhunik Metaliks net profit rises 0.40% in the December 2007 quarter
Phoenix Lamps net profit rises 77.63% in the December 2007 quarter
Karur Vysya Bank net profit rises 77.28% in the December 2007 quarter
Net profit of Karur Vysya Bank rose 77.28% to Rs 46.43 crore in the quarter ended December 2007 as against Rs 26.19 crore during the previous quarter ended December 2006. Total operating income rose 34.30% to Rs 302.54 crore in the quarter ended December 2007 as against Rs 225.28 crore during the previous quarter ended December 2006.
Jayaswal Neco Industries net profit rises 142.77% in the December 2007 quarter
Net profit of Jayaswal Neco Industries rose 142.77% to Rs 12.60 crore in the quarter ended December 2007 as against Rs 5.19 crore during the previous quarter ended December 2006. Sales rose 2.58% to Rs 336.78 crore in the quarter ended December 2007 as against Rs 328.30 crore during the previous quarter ended December 2006
Nippo Batteries Company net profit rises 291.18% in the December 2007 quarter
Hindustan Oil Exploration Company reports net loss of Rs 2.48 crore in the December 2007 quarter
Hindustan Oil Exploration Company reported net loss of Rs 2.48 crore in the quarter ended December 2007 as against net profit of Rs 8.19 crore during the previous quarter ended December 2006. Sales declined 89.79% to Rs 3.35 crore in the quarter ended December 2007 as against Rs 32.80 crore during the previous quarter ended December 2006.
Coromandel Agro Products and Oils net profit rises 56.10% in the December 2007 quarter
Sakthi Sugars reports net loss of Rs 5.79 crore in the December 2007 quarter
Sakthi Sugars reported net loss of Rs 5.79 crore in the quarter ended December 2007 as against net profit of Rs 6.04 crore during the previous quarter ended December 2006. Sales declined 1.32% to Rs 152.03 crore in the quarter ended December 2007 as against Rs 154.07 crore during the previous quarter ended December 2006.
Jay Shree Tea & Industries net profit rises 62.35% in the December 2007 quarter
Net profit of Jay Shree Tea & Industries rose 62.35% to Rs 5.52 crore in the quarter ended December 2007 as against Rs 3.40 crore during the previous quarter ended December 2006. Sales rose 10.96% to Rs 75.22 crore in the quarter ended December 2007 as against Rs 67.79 crore during the previous quarter ended December 2006
Rohit Ferro Tech net profit rises 309.16% in the December 2007 quarter
Rohit Ferro Tech net profit rises 309.16% in the December 2007 quarter
Net profit of Rohit Ferro Tech rose 309.16% to Rs 20.09 crore in the quarter ended December 2007 as against Rs 4.91 crore during the previous quarter ended December 2006. Sales rose 219.79% to Rs 139.91 crore in the quarter ended December 2007 as against Rs 43.75 crore during the previous quarter ended December 2006.
Eicher Motors net profit declines 11.41% in the December 2007 quarter
Net profit of Eicher Motors declined 11.41% to Rs 15.76 crore in the quarter ended December 2007 as against Rs 17.79 crore during the previous quarter ended December 2006. Sales rose 10.92% to Rs 547.75 crore in the quarter ended December 2007 as against Rs 493.82 crore during the previous quarter ended December 2006
Akruti City net profit rises 343.06% in the December 2007 quarter
Net profit of Akruti City rose 343.06% to Rs 72.13 crore in the quarter ended December 2007 as against Rs 16.28 crore during the previous quarter ended December 2006. Sales rose 54.32% to Rs 131.45 crore in the quarter ended December 2007 as against Rs 85.18 crore during the previous quarter ended December 2006.
Havells India net profit rises 43.41% in the December 2007 quarter
Net profit of Havells India rose 43.41% to Rs 37.00 crore in the quarter ended December 2007 as against Rs 25.80 crore during the previous quarter ended December 2006. Sales rose 36.76% to Rs 534.60 crore in the quarter ended December 2007 as against Rs 390.90 crore during the previous quarter ended December 2006
J K Cements net profit rises 59.76% in the December 2007 quarter
Net profit of J K Cements rose 59.76% to Rs 80.20 crore in the quarter ended December 2007 as against Rs 50.20 crore during the previous quarter ended December 2006. Sales rose 22.23% to Rs 389.90 crore in the quarter ended December 2007 as against Rs 319.00 crore during the previous quarter ended December 2006.
Torrent Power net profit rises 116.07% in the December 2007 quarter
Net profit of Torrent Power rose 116.07% to Rs 59.29 crore in the quarter ended December 2007 as against Rs 27.44 crore during the previous quarter ended December 2006. Sales rose 36.20% to s 862.60 crore in the quarter ended December 2007 as against Rs 633.33 crore during the previous quarter ended December 2006.
PG Foils net profit rises 102.44% in the December 2007 quarter
Som Distilleries & Breweries net profit rises 367.44% in the December 2007 quarter
ITI reports net loss of Rs 117.91 crore in the December 2007 quarter
Prithvi Information Solutions net profit rises 21.52% in the December 2007 quarter
Net profit of Prithvi Information Solutions rose 21.52% to Rs 28.40 crore in the quarter ended December 2007 as against Rs 23.37 crore during the previous quarter ended December 2006. Sales rose 46.34% to Rs 291.73 crore in thequarter ended December 2007 as against Rs 199.35 crore during the previous quarter ended December 2006
Universal Cables net profit rises 16.00% in the December 2007 quarter
Ador Welding net profit declines 80.27% in the December 2007 quarter
Adani Enterprises net profit rises 226.24% in the December 2007 quarter
Net profit of Adani Enterprises rose 226.24% to Rs 120.74 crore in the quarter ended December 2007 as against Rs 37.01 crore during the previous quarter ended December 2006. Sales rose 20.62% to Rs 3166.42 crore in the quarter ended December 2007 as against Rs 2625.18 crore during the previous quarter ended December 2006.
HMT reports net loss of Rs 15.75 crore in the December 2007 quarter
Kalpataru Power Transmission net profit declines 21.93% in the December 2007 quarter
Net profit of Kalpataru Power Transmission declined 21.93% to Rs 30.29 crore in the quarter ended December 2007 as against Rs 38.80 crore during the previous quarter ended December 2006. Sales declined 10.57% to Rs 351.94 crore in the quarter ended December 2007 as against Rs 393.53 crore during the previous quarter ended December 2006.
Wire & Wireless India reports net loss of Rs 30.92 crore in the December 2007 quarter
Ciba India net profit rises 80.00% in the December 2007 quarter
Net profit of Ciba India rose 80.00% to Rs 5.40 crore in the quarter ended December 2007 as against Rs 3.00 crore during the previous quarter ended December 2006. Sales rose 12.28% to Rs 126.20 crore in the quarter ended December 2007 as against Rs 112.40 crore during the previous quarter ended December 2006.
Mcleod Russel India net profit rises 37.72% in the December 2007 quarter
J B Chemicals & Pharamaceuticals net profit declines 45.31% in the December 2007 quarter
Tata Power Company net profit declines 29.52% in the December 2007 quarter
Net profit of Tata Power Company declined 29.52% to Rs 197.28 crore in the quarter ended December 2007 as against Rs 279.90 crore during the previous quarter ended December 2006. Sales rose 18.23% to Rs 1419.40 crore in the quarter ended December 2007 as against Rs 1200.51 crore during the previous quarter ended December 2006.
Dredging Corporation of India net profit declines 34.95% in the December 2007 quarter
HOV Services net profit declines 92.11% 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.
Labels:
Adani,
AlliedDigital,
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HOEL,
JK cement,
Kalpataru,
Numeric,
Results: KVB,
SELmanu,
Tata power,
Torrentpower
RBI Credit Policy Review
RBI keeps rates unchanged; banks to tow line
RBI keeps interest rates intact
RBI disappoints Street; indices end flat
RBI leaves rates unchanged
NEW DELHI: The Reserve Bank Governor Dr Yaga Venugopal Reddy has held his ground and has kept all the key interest rates unchanged. The cash reserve ratio stays and the CRR repo and reverse repo rates as well as the bank rates remain unchanged. The policy actually leaves flexibility to change repo and reverse rates in the near future. The Reverse repo rate stays at 6 per cent and CRR at 7.5 per cent. The inflation target for 07-08 also remains at 4 to 4.5 per cent levels and 3 per cent in medium term.
Moving away from the hawkish stance of the previous policy, RBI’s second quarter credit policy review unveiled on Tuesday, is driven by liquidity management and move to maintain price stability. GDP forecast for FY-08 has been set at 8.5 per cent. The rationale behind RBI's stance this time is that too much liquidity in the market can ignite inflation, especially around the expectations of a rise in food and fuel prices globally, in the near future. Inflation is expected to go up even if fuel rates remain unchanged.
"Developments in global financial markets in the context of the subprime crisis would warrant more intensified monitoring and swift responses with all available instruments to preserve and maintain macroeconomic and financial stability," the RBI statement said. Falling U.S. interest rates have raised the prospect that yield-seeking flows into Indian markets might continue to complicate monetary and currency management by pushing the rupee up and making exports less competitive.
"Financial markets continue to warrant careful and continuous monitoring with a readiness to respond flexibly and pre-emptively to ensure orderly liquidity conditions, particularly in the context of the management of volatile and large movements in capital flows," it said. Interestingly, while the financial markets warrant careful monitoring on large forex flows, market sources have not ruled out likely forex flows reversal on global sentiment. Reddy has rapped the banks on the knuckles for not lowering rates despite easy liquidity conditions and the fact that credit has moderated.
Even though the industry feels that post the announcement of the policy, banks may re-price lending and deposit rates, the softening of the interest rates may not happen before next quarter. “Usually most banks see hardening of rates in the last quarter (Jan-Mach) of the year, but the fact that it has not happened this year means that banks have taken into account the liquidity positions. RBI’s response is a measured one given the uncertainties in the global. It has to take note of inflation but at the same time it also has to keep liquidity in mind.
Most banks will watch their liquidity positions in the February-March timeframe and go in for interest rate re-structuring only in the next quarter,” said Chanda Kochhar, Joint Managing Director, ICICI Bank. The rupee stood at 39.39/40 per dollar, holding steady after the Indian central bank's decision, while the yield on the 10-year benchmark bond rose 2 basis points to 7.52 per cent. Given the RBI’s decision to leave the rates untouched on Tuesday, the interest rate differential between India and the United States widened to 4.25 percentage points, its widest in three years, after the Fed slashed the fed funds rate last week. The Fed is also expected to make a further cut in rates on Wednesday.
Market gives credit policy thumbs down
No softening of bank rates before next quarter:Chanda Kochhar, Jt MD, ICICI Bank
Banks plunge on RBI's unchanged stance
Indian bankers' comments on RBI's monetary policy
Fund managers' comments on RBI monetary policy
RBI plays it safe, keeps rates unchanged India Inc disappointed Special
FM to discuss measures with RBI to contain capital flows
Fund managers on monetary policy
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.
RBI keeps interest rates intact
RBI disappoints Street; indices end flat
RBI leaves rates unchanged
NEW DELHI: The Reserve Bank Governor Dr Yaga Venugopal Reddy has held his ground and has kept all the key interest rates unchanged. The cash reserve ratio stays and the CRR repo and reverse repo rates as well as the bank rates remain unchanged. The policy actually leaves flexibility to change repo and reverse rates in the near future. The Reverse repo rate stays at 6 per cent and CRR at 7.5 per cent. The inflation target for 07-08 also remains at 4 to 4.5 per cent levels and 3 per cent in medium term.
Moving away from the hawkish stance of the previous policy, RBI’s second quarter credit policy review unveiled on Tuesday, is driven by liquidity management and move to maintain price stability. GDP forecast for FY-08 has been set at 8.5 per cent. The rationale behind RBI's stance this time is that too much liquidity in the market can ignite inflation, especially around the expectations of a rise in food and fuel prices globally, in the near future. Inflation is expected to go up even if fuel rates remain unchanged.
"Developments in global financial markets in the context of the subprime crisis would warrant more intensified monitoring and swift responses with all available instruments to preserve and maintain macroeconomic and financial stability," the RBI statement said. Falling U.S. interest rates have raised the prospect that yield-seeking flows into Indian markets might continue to complicate monetary and currency management by pushing the rupee up and making exports less competitive.
"Financial markets continue to warrant careful and continuous monitoring with a readiness to respond flexibly and pre-emptively to ensure orderly liquidity conditions, particularly in the context of the management of volatile and large movements in capital flows," it said. Interestingly, while the financial markets warrant careful monitoring on large forex flows, market sources have not ruled out likely forex flows reversal on global sentiment. Reddy has rapped the banks on the knuckles for not lowering rates despite easy liquidity conditions and the fact that credit has moderated.
Even though the industry feels that post the announcement of the policy, banks may re-price lending and deposit rates, the softening of the interest rates may not happen before next quarter. “Usually most banks see hardening of rates in the last quarter (Jan-Mach) of the year, but the fact that it has not happened this year means that banks have taken into account the liquidity positions. RBI’s response is a measured one given the uncertainties in the global. It has to take note of inflation but at the same time it also has to keep liquidity in mind.
Most banks will watch their liquidity positions in the February-March timeframe and go in for interest rate re-structuring only in the next quarter,” said Chanda Kochhar, Joint Managing Director, ICICI Bank. The rupee stood at 39.39/40 per dollar, holding steady after the Indian central bank's decision, while the yield on the 10-year benchmark bond rose 2 basis points to 7.52 per cent. Given the RBI’s decision to leave the rates untouched on Tuesday, the interest rate differential between India and the United States widened to 4.25 percentage points, its widest in three years, after the Fed slashed the fed funds rate last week. The Fed is also expected to make a further cut in rates on Wednesday.
Market gives credit policy thumbs down
No softening of bank rates before next quarter:Chanda Kochhar, Jt MD, ICICI Bank
Banks plunge on RBI's unchanged stance
Indian bankers' comments on RBI's monetary policy
Fund managers' comments on RBI monetary policy
RBI plays it safe, keeps rates unchanged India Inc disappointed Special
FM to discuss measures with RBI to contain capital flows
Fund managers on monetary policy
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 loses 61 pts at close
Sensex loses 61 pts at close
India's Sensex Drops After Central Bank
Sensex ends lower by 61 points in volatile
NSE
5280.80 -6.70
BSE
18091.94 -60.84
The market, taking global cues, opened on a rousing note this morning. Stocks across the board surged higher and drove the benchmark indices Sensex and Nifty up sharply in early trade. While the Sensex vaulted by nearly 350 points to 18,491.06 in no time, the Nifty shot up to 5391.60, recording a gain of 117.50 points. Expectations of a cut in bank rates resulted in a fairly buoyant mood at that time.
And then, bank stocks turned a bit subdued as the hour hand of the clock inched closer to 12. Auto stocks gave up their early gains and remained a bit listless and the trend was almost similar in the realty space. Finally, after the Reserve Bank of India left bank rates unchanged, the mood turned negative and key stocks from banking, auto and realty sectors declined sharply into the red.
Though the market bounced back smartly after a couple of setbacks, bank and realty stocks continued to lag behind. Auto stocks managed to break free from their lower levels with good results from Maruti Suzuki aiding the sentiment. High volatility marked the afternoon session today.
While the Sensex ended at 18,091.94 with a loss of 60.84 points or 0.34%, the Nifty settled in the positive zone at 5280.80 with a small gain of 6.70 points or 0.13%.
But for a good show by information technology, FMCG and select pharma, metal, oil and power stocks, the market would well have ended with far sharper losses today. Select midcap and smallcap stocks posted impressive gains. Outperforming the premier indices, the BSE Midcap and Smallcap barometers moved up by 0.43% and 0.72% respectively.
FMCG heavyweights Hindustan Unilever (up nearly 4%) and ITC (2.45%) had a bright outing today. Metal stocks Hindalco (3.45%) and Tata Steel (2.55%), pharma major Cipla (3.35%) and Ranbaxy Laboratories (1.4%) and housing finance major HDFC (2.5%) closed on a strong note.
IT bellwether Infosys Technologies notched up a handsome gain of 3.2%. Wipro (up 1.6%) and Tata Consultancy Services (up 1.1%) also closed with smart gains.
Mahindra & Mahindra rallied by 2.25%. Ambuja Cements (2.05%) and ONGC (1.8%) finished on a firm note. Reliance Industries, which moved in a tight band for a better part of the session today, ended with a modest gain of 0.45%. Reliance Energy also closed by around the same margin as RIL. Tata Motors and Grasim Industries edged up marginally.
Banking sector heavyweights ICICI Bank (down 4.15%), State Bank of India (down 3.55%) and HDFC Bank (down 3.35%) ended with sharp losses. Bajaj Auto and Maruti Suzuki lost 2.8% and 0.6% respectively.
Bharti Airtel closed with a loss of 2.8%. Capital goods majors Larsen & Toubro and BHEL eased by 1.9% to Rs 3770 and Rs 2051.95 respectively. Realty stock DLF lost a little over a per cent. ACC, NTPC, Reliance Communications and Satyam Computer Services lost 0.4% - 1%.
Unitech, Dr. Reddy's Laboratories, BPCL, Punjab National Bank, Sterlite Industries, ABB and Hero Honda were among the major losers in the Nifty index.
Suzlon Energy ended with an impressive gain of 8.8%. Sun Pharmaceuticals gained over 7%. Cairn India ended nearly 7% up. Idea Cellular (5.7%), HCL Technologies (5.7%), Zee Entertainment (3.3%), Tata Power (2.75%), Nalco (1.95%), Reliance Petroleum (1.9%), Siemens (1.9%) and GlaxoSmithKline Pharma (1.5%) also signed off on a high note today.
IVR Prime Urban (up 13.5%) was the biggest gainer among BSE 'A' Group stocks. Tata Tea, Wyeth, HTMT Global, Cummins India, Birla Corporation, Dredging Corporation, Wockhardt, Aurobindo Pharma, CESC, Sun TV Network, Titan Industries and Brigade Enterprises also closed with sharp gains.
Midcap stocks Gujarat Petronet, NIIT, United Breweries, Gujarat NRE Coke, Great Offshore, Praj Industries, UTV Software, Kesoram Industries, Carborundum Universal, JK Cement, Crisil, Gujarat State Fertilizers, Matrix Laboratories, Godrej Industries, Essar Shipping and S Kumar's Nationwide moved up sharply today.
The market breadth was almost neutral when trade ended today. Out of 2793 stocks traded on BSE, 1395 stocks were up in the positive territory while 1355 stocks had eased into the red. 43 stocks ended at their previous closing levels.
Other Sify.com stories
GE Shipping Q3 net up 77%
Thermax Q3 net up 35.31%
GE may sell India consumer finance unit
Credit Policy: FM backs 'standstill' approach
Rupee flat, all eyes on capital inflows, Fed
Bombay Dyeing Q3 net loss at Rs 37 cr
Dabur India Q3 net up 19.21% at Rs 94.50 cr
Adani Enterprises Q3 net profit at Rs 120.74 cr
HMT Q3 net loss at Rs 15.75 cr
Syndicate Bank Q3 net up 20.8% at Rs 273.19 cr
Asian Paints Q3 net up 66.5% at Rs 118.87 cr
Alstom Projects Q3 net dips 0.66% at Rs 30.1 cr
NALCO Q3 net dips 42.46% at Rs 329.44 cr
Maruti Suzuki Q3 net up 24.07% at Rs 467.04 cr
RCF Q3 net dips 7% at Rs 60.12 cr
Unity Infraprojects gets Rs 126 cr order
SEBI firm on short-selling
Source: http://www.sify.com/finance. 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.
India's Sensex Drops After Central Bank
Sensex ends lower by 61 points in volatile
NSE
5280.80 -6.70
BSE
18091.94 -60.84
The market, taking global cues, opened on a rousing note this morning. Stocks across the board surged higher and drove the benchmark indices Sensex and Nifty up sharply in early trade. While the Sensex vaulted by nearly 350 points to 18,491.06 in no time, the Nifty shot up to 5391.60, recording a gain of 117.50 points. Expectations of a cut in bank rates resulted in a fairly buoyant mood at that time.
And then, bank stocks turned a bit subdued as the hour hand of the clock inched closer to 12. Auto stocks gave up their early gains and remained a bit listless and the trend was almost similar in the realty space. Finally, after the Reserve Bank of India left bank rates unchanged, the mood turned negative and key stocks from banking, auto and realty sectors declined sharply into the red.
Though the market bounced back smartly after a couple of setbacks, bank and realty stocks continued to lag behind. Auto stocks managed to break free from their lower levels with good results from Maruti Suzuki aiding the sentiment. High volatility marked the afternoon session today.
While the Sensex ended at 18,091.94 with a loss of 60.84 points or 0.34%, the Nifty settled in the positive zone at 5280.80 with a small gain of 6.70 points or 0.13%.
But for a good show by information technology, FMCG and select pharma, metal, oil and power stocks, the market would well have ended with far sharper losses today. Select midcap and smallcap stocks posted impressive gains. Outperforming the premier indices, the BSE Midcap and Smallcap barometers moved up by 0.43% and 0.72% respectively.
FMCG heavyweights Hindustan Unilever (up nearly 4%) and ITC (2.45%) had a bright outing today. Metal stocks Hindalco (3.45%) and Tata Steel (2.55%), pharma major Cipla (3.35%) and Ranbaxy Laboratories (1.4%) and housing finance major HDFC (2.5%) closed on a strong note.
IT bellwether Infosys Technologies notched up a handsome gain of 3.2%. Wipro (up 1.6%) and Tata Consultancy Services (up 1.1%) also closed with smart gains.
Mahindra & Mahindra rallied by 2.25%. Ambuja Cements (2.05%) and ONGC (1.8%) finished on a firm note. Reliance Industries, which moved in a tight band for a better part of the session today, ended with a modest gain of 0.45%. Reliance Energy also closed by around the same margin as RIL. Tata Motors and Grasim Industries edged up marginally.
Banking sector heavyweights ICICI Bank (down 4.15%), State Bank of India (down 3.55%) and HDFC Bank (down 3.35%) ended with sharp losses. Bajaj Auto and Maruti Suzuki lost 2.8% and 0.6% respectively.
Bharti Airtel closed with a loss of 2.8%. Capital goods majors Larsen & Toubro and BHEL eased by 1.9% to Rs 3770 and Rs 2051.95 respectively. Realty stock DLF lost a little over a per cent. ACC, NTPC, Reliance Communications and Satyam Computer Services lost 0.4% - 1%.
Unitech, Dr. Reddy's Laboratories, BPCL, Punjab National Bank, Sterlite Industries, ABB and Hero Honda were among the major losers in the Nifty index.
Suzlon Energy ended with an impressive gain of 8.8%. Sun Pharmaceuticals gained over 7%. Cairn India ended nearly 7% up. Idea Cellular (5.7%), HCL Technologies (5.7%), Zee Entertainment (3.3%), Tata Power (2.75%), Nalco (1.95%), Reliance Petroleum (1.9%), Siemens (1.9%) and GlaxoSmithKline Pharma (1.5%) also signed off on a high note today.
IVR Prime Urban (up 13.5%) was the biggest gainer among BSE 'A' Group stocks. Tata Tea, Wyeth, HTMT Global, Cummins India, Birla Corporation, Dredging Corporation, Wockhardt, Aurobindo Pharma, CESC, Sun TV Network, Titan Industries and Brigade Enterprises also closed with sharp gains.
Midcap stocks Gujarat Petronet, NIIT, United Breweries, Gujarat NRE Coke, Great Offshore, Praj Industries, UTV Software, Kesoram Industries, Carborundum Universal, JK Cement, Crisil, Gujarat State Fertilizers, Matrix Laboratories, Godrej Industries, Essar Shipping and S Kumar's Nationwide moved up sharply today.
The market breadth was almost neutral when trade ended today. Out of 2793 stocks traded on BSE, 1395 stocks were up in the positive territory while 1355 stocks had eased into the red. 43 stocks ended at their previous closing levels.
Other Sify.com stories
GE Shipping Q3 net up 77%
Thermax Q3 net up 35.31%
GE may sell India consumer finance unit
Credit Policy: FM backs 'standstill' approach
Rupee flat, all eyes on capital inflows, Fed
Bombay Dyeing Q3 net loss at Rs 37 cr
Dabur India Q3 net up 19.21% at Rs 94.50 cr
Adani Enterprises Q3 net profit at Rs 120.74 cr
HMT Q3 net loss at Rs 15.75 cr
Syndicate Bank Q3 net up 20.8% at Rs 273.19 cr
Asian Paints Q3 net up 66.5% at Rs 118.87 cr
Alstom Projects Q3 net dips 0.66% at Rs 30.1 cr
NALCO Q3 net dips 42.46% at Rs 329.44 cr
Maruti Suzuki Q3 net up 24.07% at Rs 467.04 cr
RCF Q3 net dips 7% at Rs 60.12 cr
Unity Infraprojects gets Rs 126 cr order
SEBI firm on short-selling
Source: http://www.sify.com/finance. 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.
28 January 2008
Economic Times Top Stories
http://economictimes.indiatimes.com/
RBI ready to respond to market uncertainty
Twelve NRIs shine on global list of top tech dealmakers
SEBI panel to review IPO process in February: SEBI chief
Unfazed fund managers eye large-cap stocks
Rate cut hopes spur bank, auto shares; realty hit
Indian netizens world's third biggest online shoppers
----------------------------------------
IQMS to acquire 51 pc stake in Object Xperts of US
Relief package for poultry industry likely
Tata set to buy stake in Deutsche Telekom: Report
Indian CEOs most optimistic on economic growth: Poll
KEI Ind to enter power generation business
Global majors line up for oil exploration under Nelp-VII
Aban Offshore gets ONGC contract worth Rs 6.57 bn
BHEL, Tiruchirapalli unit secures orders worth Rs 15K cr
India rises to second in ICC Test rankings
RBI may resort to balancing act in monetary policy
India could face export, capital flow risks: FM
India not vulnerable to US recession: S&P
Modi's Surat tops GDP race at 11.5%
ADAG bets big on rural insurance; clocks Rs 148 cr premium
US recession could be good news for Indian IT firms: Narayana Murthy
Should the RBI cut interest rates?
ET Features
Investor's Guide
Market fluctuation surprised even The Insider
Derivatives diary: These are uncertain times
'HPCL looking at E&P as a key growth driver'
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
Low beta stocks will never let you down
Global indices go below their previous intermediate bottoms
Infrastructure growth boosts GPIL
Stocks to buy: Bharti Airtel, Indiabulls Fin Services, Bank of India, HDFC Bank
Wockhardt Hospitals IPO expensively priced
Godrej Consumer Products a safer option
Will the bull run continue in 2008?
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.
RBI ready to respond to market uncertainty
Twelve NRIs shine on global list of top tech dealmakers
SEBI panel to review IPO process in February: SEBI chief
Unfazed fund managers eye large-cap stocks
Rate cut hopes spur bank, auto shares; realty hit
Indian netizens world's third biggest online shoppers
----------------------------------------
IQMS to acquire 51 pc stake in Object Xperts of US
Relief package for poultry industry likely
Tata set to buy stake in Deutsche Telekom: Report
Indian CEOs most optimistic on economic growth: Poll
KEI Ind to enter power generation business
Global majors line up for oil exploration under Nelp-VII
Aban Offshore gets ONGC contract worth Rs 6.57 bn
BHEL, Tiruchirapalli unit secures orders worth Rs 15K cr
India rises to second in ICC Test rankings
RBI may resort to balancing act in monetary policy
India could face export, capital flow risks: FM
India not vulnerable to US recession: S&P
Modi's Surat tops GDP race at 11.5%
ADAG bets big on rural insurance; clocks Rs 148 cr premium
US recession could be good news for Indian IT firms: Narayana Murthy
Should the RBI cut interest rates?
ET Features
Investor's Guide
Market fluctuation surprised even The Insider
Derivatives diary: These are uncertain times
'HPCL looking at E&P as a key growth driver'
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
Low beta stocks will never let you down
Global indices go below their previous intermediate bottoms
Infrastructure growth boosts GPIL
Stocks to buy: Bharti Airtel, Indiabulls Fin Services, Bank of India, HDFC Bank
Wockhardt Hospitals IPO expensively priced
Godrej Consumer Products a safer option
Will the bull run continue in 2008?
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.
DeadPresident Blog (Stock, IPO views) Updates
http://deadpresident.blogspot.com
Highlights of Macroeconomic and Monetary Developments in India
Monetary Policy Review
Market recovers from day's lows
RBI Cut Tomorrow ?
Weekly Review - Jan 28 2008
Wealth Creation - Outlook 2008
Stock Recommendations - Jan 28 2008
Post Market Commentary - Jan 28 2008
Market Close: Smart recovery; regains 18k level!
Sensex trims losses on late buying
Auto, bank shares in focus ahead of monetary policy review
Jindal SAW
Gemini Communications, Dhanus Technologies, Take Solutions
Grey Market - IRB Infrastructure, Shriram EPC, Onmobile Global, KNR Constructions
Future Capital Holding 765 410 to 415Reliance Power 450 190 to 200Emaar MGF 610 to 690 220 to 230J. Kumar Infraprojects 110 to 120 5 to 7Cords Cable Ind. 125 to 135 22 to 25KNR Construction 170 to 180 15 to 18OnMobile Global 425 to 450 100 to 120Bang Overseas 200 to 207 32 to 35Shriram EPC 290 to 330 35 to 37IRB Infrastructure Developers 185 to 220 50 to 60
Long Term Recommendations
KNR Constructions IPO Review
Daily Technical Futures - Jan 28 2008
Weekly Wrap - Jan 25 2008
Engineers India /Amara Raja Batteries
TNPL / Honda Siel
HT Media, Bharat Forge
Titan Industries , Tata Metaliks, Spicejet, HDFC Bank
KNR Constructions - valuations reasonable
IRB Infrastructure Developers - good for longterm
Onmobile Global - expensive issue
Bharti Airtel, Indiabulls, Bank of India, HDFC Bank
RBI meet, IPO refunds may decide the market course
BHEL, Central Bank, Cipla, Dr Reddys, Glenmark, Grasim, HCC, Kotak, LT, Marico, Union Bank of India, Voltas
ONGC, Bajaj Auto, GSPL, Bharat Forge
ICICI Bank, Idea Cellular, Satyam Computers
Chennai Petro, Garware Offshore, HCL Tech, ITC, KPIT Cummins, ONGC, Tech Mahindra, Wipro
Sesa Goa
Canara Bank
Orbit Corporation
ANG Auto, Balaji Telefilms
KNR Constructions IPO Review
Bang Overseas IPO Review
Onmobile Global IPO Review
Gateway Distriparks: Buy
GATI / PVR
Source: http://deadpresident.blogspot.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.
Highlights of Macroeconomic and Monetary Developments in India
Monetary Policy Review
Market recovers from day's lows
RBI Cut Tomorrow ?
Weekly Review - Jan 28 2008
Wealth Creation - Outlook 2008
Stock Recommendations - Jan 28 2008
Post Market Commentary - Jan 28 2008
Market Close: Smart recovery; regains 18k level!
Sensex trims losses on late buying
Auto, bank shares in focus ahead of monetary policy review
Jindal SAW
Gemini Communications, Dhanus Technologies, Take Solutions
Grey Market - IRB Infrastructure, Shriram EPC, Onmobile Global, KNR Constructions
Future Capital Holding 765 410 to 415Reliance Power 450 190 to 200Emaar MGF 610 to 690 220 to 230J. Kumar Infraprojects 110 to 120 5 to 7Cords Cable Ind. 125 to 135 22 to 25KNR Construction 170 to 180 15 to 18OnMobile Global 425 to 450 100 to 120Bang Overseas 200 to 207 32 to 35Shriram EPC 290 to 330 35 to 37IRB Infrastructure Developers 185 to 220 50 to 60
Long Term Recommendations
KNR Constructions IPO Review
Daily Technical Futures - Jan 28 2008
Weekly Wrap - Jan 25 2008
Engineers India /Amara Raja Batteries
TNPL / Honda Siel
HT Media, Bharat Forge
Titan Industries , Tata Metaliks, Spicejet, HDFC Bank
KNR Constructions - valuations reasonable
IRB Infrastructure Developers - good for longterm
Onmobile Global - expensive issue
Bharti Airtel, Indiabulls, Bank of India, HDFC Bank
RBI meet, IPO refunds may decide the market course
BHEL, Central Bank, Cipla, Dr Reddys, Glenmark, Grasim, HCC, Kotak, LT, Marico, Union Bank of India, Voltas
ONGC, Bajaj Auto, GSPL, Bharat Forge
ICICI Bank, Idea Cellular, Satyam Computers
Chennai Petro, Garware Offshore, HCL Tech, ITC, KPIT Cummins, ONGC, Tech Mahindra, Wipro
Sesa Goa
Canara Bank
Orbit Corporation
ANG Auto, Balaji Telefilms
KNR Constructions IPO Review
Bang Overseas IPO Review
Onmobile Global IPO Review
Gateway Distriparks: Buy
GATI / PVR
Source: http://deadpresident.blogspot.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.
IPO Watch: Bang Overseas, Wockhardt Hospitals, IRB Infrastructure
IPO Watch: Bang Overseas Wockhardt Hospitals IRB Infrastructure
Bang Overseas is raising money from the primary market to fund retail expansion. The company is coming out with an IPO of 35 lakh shares. Post-issue, the shareholding of the promoter and promoter group will reduce to 74.19%. The company will use the IPO proceeds to set up a manufacturing unit, as well as a warehousing and logistic facility. BUSINESS: Bang Overseas operates in two business segments - textile trading and garment manufacturing. It is also into fabric designing. The manufacturing processes are outsourced to low cost countries like Turkey, Portugal, Mauritius and Europe. It supplies fabric under the brand name 'Bodywaves' to Indian retailers and apparel manufacturers like Arvind, Pantaloon, Provogue and Mudra. In late '02, the company launched ready-to-wear men's garment under the brand 'Thomas Scott'. Two-and-a-half years ago, it set up its first manufacturing unit, while the second unit commenced commercial production in '06. The company is now aggressively expanding its retail reach and had set up 12 retail outlets by December '07. Nine of these are company-owned and three are franchisees. Going forward, it plans to open 88 retail outlets, half of which will be company-owned. It also plans to launch a women's wear brand 'Miss Scott'. Its products are also sold via 157 point of sales, including large format stores like Shopper's Stop, Pyramid and Globus. FINANCIALS: The company has seen 70% CAGR in revenues in the past four years. However, its net profit has grown more than 140% on a compounded basis. Peers like Bombay Rayon and Kewal Kiran have shown similar growth over the same period. A 10% PAT margin is in line with its peers. However, as the company increases its retail presence, sustaining high margins will be difficult. Bang Overseas generated over 20% revenue from exports in FY07, against 39% in FY06. This indicates that its retail presence is increasing. Currently, trading and garment manufacturing businesses contribute equally to Bang's profit margin. Going ahead, the contribution of the trading business is expected to fall to around 20% by FY09. The brand 'Thomas Scott' contributed 8% to the total turnover in FY06, against 15% in FY07. On an annualised basis for FY08, the company is expected to clock sales of Rs 145 crore. This will result in a net profit of Rs 14 crore. Thus, on a post-issue basis, the earnings per share will be Rs 10.5, almost double that of FY07. VALUATIONS: At the higher end of the price band, Bang Overseas is asking a P/E of 19 on post-issue equity dilution, based on H1 FY08 annualised earnings. The company cannot be compared with any of the listed players because of the small scale of its operations. Nonetheless, the business model is similar to that of Bombay Rayon and Celebrity Fashions, which are trading at similar P/Es. Bang Overseas intends to be present in the entire retail value chain to capture the margins at each sales point. Retail presence will be its main focus. It's imperative for Bang Overseas to maintain its high growth momentum as existing peers are also available at the same price. RISKS: Soaring real estate prices and thinning retail margins are a concern for existing big players. The fact that Bang Overseas plans to increase its retail presence can put its margins under pressure, as the scale of operations will increase.
IRB Infrastructure Developers, a Mumbai-based infrastructure developer and construction major, is coming out with its initial public offer (IPO) of 51 million shares of face value Rs 10 each. The issue represents around 15.4% of the post-issue paid-up equity capital of the company. The company is raising money for pre-payment and repayment of existing loans, investment in subsidiaries and meeting general corporate expenses. Over 70% of the issue proceeds will be utilised to prepay or repay the debts of the holding company (IRB) and its various subsidiaries. The company also proposes to invest Rs 90 crore in a special purpose vehicle (SPV) that is bidding for build-operate-transfer (BOT) projects on sections of National Highway 8 (NH8). Loan repayment is expected to substantially reduce the company's interest expenses and boost its FY09 net profit. At its current offer price, the stock looks expensive compared to its listed peers, though it offers good growth prospects in the long term. Given last week's market crash, retail investors can avoid the issue as they may get the stock cheaper in the secondary market. BUSINESS: IRB Infrastructure is the holding company of the group and its BOT projects and construction activities are conducted through subsidiaries and SPVs. Recently, the group restructured its SPVs to convert the joint ventures into 100% subsidiaries. The group has an extensive presence in the highways sector and is currently involved in 12 BOT projects in roads and highways. It is now diversifying into real estate development and is in the process of acquiring land in Pune to develop an integrated township. During the first five months of FY08, nearly 55% of the group's consolidated turnover was accounted for by Ideal Road Builders (IRBL). IRBL is involved in BOT projects and government-funded construction projects. Around 37% of the group's revenue was accounted for by Mhaiskar Infrastructure, which maintains and collects toll on the Mumbai-Pune Expressway and Mumbai-Pune NH4 on a BOT basis. GROWTH DRIVERS: As the revenues and profits from its existing BoT projects grow, the company continues to bid for new BOT projects in the highways sector. Out of the company's 12 BOT projects, 11 are in the 'operational' phase. Recently, it bagged the project to develop the 260-km-long Dahisar-Surat section of NH8. The project will start generating revenues from FY09 and will be the biggest project in IRB's portfolio. The IPO proceeds will nearly quadruple the company's net worth to Rs 1,400 crore and enable it to bid for more BOT projects without straining its balance sheet. The bulk of the proceeds will be utilised to reduce debt and interest burden. In the first five months of FY08, interest expenses accounted for 30% of IRB's consolidated revenues. Hence, pre-payment of debt will provide significant upside to the company's net profit next year. Another growth driver is IRB's planned diversification into the real estate sector. Currently, the company has 925 acres in Pune and it intends to acquire an additional 475 acres for its proposed township projects. FINANCIALS: Starting from a low base, the company is growing rapidly. In the first five months of FY08, IRB reported a net profit of Rs 36 crore, which was more than the corresponding figure for FY07. Its consolidated revenue, at Rs 285 crore, was around 88% of the FY07 corresponding figure. We expect the company to maintain its growth momentum for at least the next 2-3 years as it continues to bag new BOT projects. Growth will also be aided by the construction division, which had an order book of over Rs 2,300 crore as on October 31, '07. This is equivalent to around eight times the division's estimated revenues for FY08. VALUATIONS: At its upper price band, the issue is valued at around 70 times its FY08 estimated EPS, which is 70-100% higher than the P/E multiples of its peers such as Larsen & Toubro (L&T), Hindustan Construction (HCC) and Gammon India. Our estimates are based on the assumption that the company will maintain the growth momentum witnessed in the first five months of FY08.
Wockhardt Hospitals
Wockhardt Hospitals is a leading private healthcare services company with a focus on super-specialty treatments. It plans to raise Rs 688-762 crore. The IPO comprises a net issue of nearly 2.5 crore shares with a face value of Rs 10 each, representing 24% of the post-issue equity capital of the company. Around two-thirds of the issue proceeds will be used to construct and develop the company's greenfield and brownfield hospitals. The remaining amount has been earmarked for prepayment of short-term loans taken by the company to fund its capital expenditure. BUSINESS: Incorporated in August 1991, Wockhardt Hospitals (formerly known as First Hospitals and Heart Institute) has 15 hospitals (10 super-specialty and five regional specialty intensive care units) in western, southern and eastern India. According to CRIS-INFAC '07 report, the company has around 1,390 beds across its various hospitals. Apollo Hospitals is the industry leader in the private sector with 6,952 beds. Wockhardt Hospitals had an average occupancy rate of around 68% in the last fiscal year. During FY07, it performed over 10,000 cardiac procedures, 1,000 orthopedic procedures and 400 neuro and spine surgeries. As on December 31, '07, the company had recruited 471 doctors and 2,147 medical personnel across its 15 facilities. Being a reputed pedigree of Wockhardt group and focusing on specialty treatments are its strengths. It also enjoys strategic association with Harvard Medical International, a global non-profit organisation, for advancement of medical facilities around the world. GROWTH DRIVERS: The company plans to consolidate its position in the metros and establish its footprint in Tier-II cities. It plans to increase its number of beds to 1,957 by the end of FY09. The company plans to expand via the greenfield or brownfield routes. It also aims to tap the growing medical tourism market, with special focus on patients from developed countries seeking cost-effective healthcare. It's also banking on increased spend on healthcare in the country on the back of growing penetration of health insurance. FINANCIALS: The company's revenues posted a CAGR of 48% since '03 to reach Rs 236.5 crore in FY07. It started generating profits since FY05; its profit stood at Rs 15.3 crore at the end of FY07. The company has not paid any dividends in the past and is not likely to pay any in the foreseeable future, as it plans to plough back its earnings for development and expansion of its business. VALUATIONS: At the lower price band, the company is valued at 242 times its FY08 estimated earnings. At the upper price band, P/E works out to just less than 270. Our estimates are based on growth witnessed in the nine months ended December '07. These valuations look expensive compared to the average valuation in the healthcare segment. Apollo Hospitals, a dividend paying company, has a P/E of 28. Investors will be better off buying value stocks in this segment from the secondary, rather than primary market.
---------------------------------------------------------
Moneycontrol.com
What experts say about Bang Overseas?
Subscribe to OnMobile Global IPO: Prabhudas Lilladher
Hem Sec neutral on KNR Constructions IPO
Reliance Power a long term call: Chakraborty
Bang Overseas IPO opens for subscription Big Bazaar evaluating funding options for exp Future Capital Holdings to list on February 1 Apply for KNR Constructions IPO: Arihant Cap
Shriram EPC IPO opens on Jan 29, price band Rs 290-330
Mixed reactions from Experts for Cords cable
Crisil assigns IPO Grade 5/5 to Acme Tele Power
IRB Infra IPO opens on Jan 31, price band Rs 185-220
----------------------------------------------------------
The Economic Times
Bang Overseas' 35 lakh share IPO opens
Tulsi Extrusions IPO to raise up to Rs 48.5 cr
Wockhart Hospitals to raise Rs 800 cr through IPO
Market fall puts brakes on IPO subscription
Shriram EPC to raise Rs 165 cr through IPO
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
-------------------------------------------------------
Source: http://www.moneycontrol.com and 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.
Bang Overseas is raising money from the primary market to fund retail expansion. The company is coming out with an IPO of 35 lakh shares. Post-issue, the shareholding of the promoter and promoter group will reduce to 74.19%. The company will use the IPO proceeds to set up a manufacturing unit, as well as a warehousing and logistic facility. BUSINESS: Bang Overseas operates in two business segments - textile trading and garment manufacturing. It is also into fabric designing. The manufacturing processes are outsourced to low cost countries like Turkey, Portugal, Mauritius and Europe. It supplies fabric under the brand name 'Bodywaves' to Indian retailers and apparel manufacturers like Arvind, Pantaloon, Provogue and Mudra. In late '02, the company launched ready-to-wear men's garment under the brand 'Thomas Scott'. Two-and-a-half years ago, it set up its first manufacturing unit, while the second unit commenced commercial production in '06. The company is now aggressively expanding its retail reach and had set up 12 retail outlets by December '07. Nine of these are company-owned and three are franchisees. Going forward, it plans to open 88 retail outlets, half of which will be company-owned. It also plans to launch a women's wear brand 'Miss Scott'. Its products are also sold via 157 point of sales, including large format stores like Shopper's Stop, Pyramid and Globus. FINANCIALS: The company has seen 70% CAGR in revenues in the past four years. However, its net profit has grown more than 140% on a compounded basis. Peers like Bombay Rayon and Kewal Kiran have shown similar growth over the same period. A 10% PAT margin is in line with its peers. However, as the company increases its retail presence, sustaining high margins will be difficult. Bang Overseas generated over 20% revenue from exports in FY07, against 39% in FY06. This indicates that its retail presence is increasing. Currently, trading and garment manufacturing businesses contribute equally to Bang's profit margin. Going ahead, the contribution of the trading business is expected to fall to around 20% by FY09. The brand 'Thomas Scott' contributed 8% to the total turnover in FY06, against 15% in FY07. On an annualised basis for FY08, the company is expected to clock sales of Rs 145 crore. This will result in a net profit of Rs 14 crore. Thus, on a post-issue basis, the earnings per share will be Rs 10.5, almost double that of FY07. VALUATIONS: At the higher end of the price band, Bang Overseas is asking a P/E of 19 on post-issue equity dilution, based on H1 FY08 annualised earnings. The company cannot be compared with any of the listed players because of the small scale of its operations. Nonetheless, the business model is similar to that of Bombay Rayon and Celebrity Fashions, which are trading at similar P/Es. Bang Overseas intends to be present in the entire retail value chain to capture the margins at each sales point. Retail presence will be its main focus. It's imperative for Bang Overseas to maintain its high growth momentum as existing peers are also available at the same price. RISKS: Soaring real estate prices and thinning retail margins are a concern for existing big players. The fact that Bang Overseas plans to increase its retail presence can put its margins under pressure, as the scale of operations will increase.
IRB Infrastructure Developers, a Mumbai-based infrastructure developer and construction major, is coming out with its initial public offer (IPO) of 51 million shares of face value Rs 10 each. The issue represents around 15.4% of the post-issue paid-up equity capital of the company. The company is raising money for pre-payment and repayment of existing loans, investment in subsidiaries and meeting general corporate expenses. Over 70% of the issue proceeds will be utilised to prepay or repay the debts of the holding company (IRB) and its various subsidiaries. The company also proposes to invest Rs 90 crore in a special purpose vehicle (SPV) that is bidding for build-operate-transfer (BOT) projects on sections of National Highway 8 (NH8). Loan repayment is expected to substantially reduce the company's interest expenses and boost its FY09 net profit. At its current offer price, the stock looks expensive compared to its listed peers, though it offers good growth prospects in the long term. Given last week's market crash, retail investors can avoid the issue as they may get the stock cheaper in the secondary market. BUSINESS: IRB Infrastructure is the holding company of the group and its BOT projects and construction activities are conducted through subsidiaries and SPVs. Recently, the group restructured its SPVs to convert the joint ventures into 100% subsidiaries. The group has an extensive presence in the highways sector and is currently involved in 12 BOT projects in roads and highways. It is now diversifying into real estate development and is in the process of acquiring land in Pune to develop an integrated township. During the first five months of FY08, nearly 55% of the group's consolidated turnover was accounted for by Ideal Road Builders (IRBL). IRBL is involved in BOT projects and government-funded construction projects. Around 37% of the group's revenue was accounted for by Mhaiskar Infrastructure, which maintains and collects toll on the Mumbai-Pune Expressway and Mumbai-Pune NH4 on a BOT basis. GROWTH DRIVERS: As the revenues and profits from its existing BoT projects grow, the company continues to bid for new BOT projects in the highways sector. Out of the company's 12 BOT projects, 11 are in the 'operational' phase. Recently, it bagged the project to develop the 260-km-long Dahisar-Surat section of NH8. The project will start generating revenues from FY09 and will be the biggest project in IRB's portfolio. The IPO proceeds will nearly quadruple the company's net worth to Rs 1,400 crore and enable it to bid for more BOT projects without straining its balance sheet. The bulk of the proceeds will be utilised to reduce debt and interest burden. In the first five months of FY08, interest expenses accounted for 30% of IRB's consolidated revenues. Hence, pre-payment of debt will provide significant upside to the company's net profit next year. Another growth driver is IRB's planned diversification into the real estate sector. Currently, the company has 925 acres in Pune and it intends to acquire an additional 475 acres for its proposed township projects. FINANCIALS: Starting from a low base, the company is growing rapidly. In the first five months of FY08, IRB reported a net profit of Rs 36 crore, which was more than the corresponding figure for FY07. Its consolidated revenue, at Rs 285 crore, was around 88% of the FY07 corresponding figure. We expect the company to maintain its growth momentum for at least the next 2-3 years as it continues to bag new BOT projects. Growth will also be aided by the construction division, which had an order book of over Rs 2,300 crore as on October 31, '07. This is equivalent to around eight times the division's estimated revenues for FY08. VALUATIONS: At its upper price band, the issue is valued at around 70 times its FY08 estimated EPS, which is 70-100% higher than the P/E multiples of its peers such as Larsen & Toubro (L&T), Hindustan Construction (HCC) and Gammon India. Our estimates are based on the assumption that the company will maintain the growth momentum witnessed in the first five months of FY08.
Wockhardt Hospitals
Wockhardt Hospitals is a leading private healthcare services company with a focus on super-specialty treatments. It plans to raise Rs 688-762 crore. The IPO comprises a net issue of nearly 2.5 crore shares with a face value of Rs 10 each, representing 24% of the post-issue equity capital of the company. Around two-thirds of the issue proceeds will be used to construct and develop the company's greenfield and brownfield hospitals. The remaining amount has been earmarked for prepayment of short-term loans taken by the company to fund its capital expenditure. BUSINESS: Incorporated in August 1991, Wockhardt Hospitals (formerly known as First Hospitals and Heart Institute) has 15 hospitals (10 super-specialty and five regional specialty intensive care units) in western, southern and eastern India. According to CRIS-INFAC '07 report, the company has around 1,390 beds across its various hospitals. Apollo Hospitals is the industry leader in the private sector with 6,952 beds. Wockhardt Hospitals had an average occupancy rate of around 68% in the last fiscal year. During FY07, it performed over 10,000 cardiac procedures, 1,000 orthopedic procedures and 400 neuro and spine surgeries. As on December 31, '07, the company had recruited 471 doctors and 2,147 medical personnel across its 15 facilities. Being a reputed pedigree of Wockhardt group and focusing on specialty treatments are its strengths. It also enjoys strategic association with Harvard Medical International, a global non-profit organisation, for advancement of medical facilities around the world. GROWTH DRIVERS: The company plans to consolidate its position in the metros and establish its footprint in Tier-II cities. It plans to increase its number of beds to 1,957 by the end of FY09. The company plans to expand via the greenfield or brownfield routes. It also aims to tap the growing medical tourism market, with special focus on patients from developed countries seeking cost-effective healthcare. It's also banking on increased spend on healthcare in the country on the back of growing penetration of health insurance. FINANCIALS: The company's revenues posted a CAGR of 48% since '03 to reach Rs 236.5 crore in FY07. It started generating profits since FY05; its profit stood at Rs 15.3 crore at the end of FY07. The company has not paid any dividends in the past and is not likely to pay any in the foreseeable future, as it plans to plough back its earnings for development and expansion of its business. VALUATIONS: At the lower price band, the company is valued at 242 times its FY08 estimated earnings. At the upper price band, P/E works out to just less than 270. Our estimates are based on growth witnessed in the nine months ended December '07. These valuations look expensive compared to the average valuation in the healthcare segment. Apollo Hospitals, a dividend paying company, has a P/E of 28. Investors will be better off buying value stocks in this segment from the secondary, rather than primary market.
---------------------------------------------------------
Moneycontrol.com
What experts say about Bang Overseas?
Subscribe to OnMobile Global IPO: Prabhudas Lilladher
Hem Sec neutral on KNR Constructions IPO
Reliance Power a long term call: Chakraborty
Bang Overseas IPO opens for subscription Big Bazaar evaluating funding options for exp Future Capital Holdings to list on February 1 Apply for KNR Constructions IPO: Arihant Cap
Shriram EPC IPO opens on Jan 29, price band Rs 290-330
Mixed reactions from Experts for Cords cable
Crisil assigns IPO Grade 5/5 to Acme Tele Power
IRB Infra IPO opens on Jan 31, price band Rs 185-220
----------------------------------------------------------
The Economic Times
Bang Overseas' 35 lakh share IPO opens
Tulsi Extrusions IPO to raise up to Rs 48.5 cr
Wockhart Hospitals to raise Rs 800 cr through IPO
Market fall puts brakes on IPO subscription
Shriram EPC to raise Rs 165 cr through IPO
Post-IPO IRB stocks may get cheaper in secondary market
Bang Overseas IPO looks fairly valued
-------------------------------------------------------
Source: http://www.moneycontrol.com and 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.
Myiris, Moneycontrol Updates
Myiris.com
US Fed rate cut likely to cast shadow on RBI credit policy
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Highlights of Macroeconomic and Monetary Developments in India
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KEI Industries to set up subsidiary for power generation biz
IQMS Software to buy 51% stake in Object Xperts
Alembic to enter into US, European markets
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Lupin intends to acquire firm in US
Voltas eyes acquisitions in electro-mechanical projects
Hinduja Group to invest USD 50 bn in India
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Moneycontrol.com
Mkt says 50% chance of a rate cut: Poll
FIIs +ve on India, but advocate risk recognition
RBI may hike CRR by April: DSP ML
Total land bank at 39 m sq ft: Kolte Patil
Great offshore Q3 net profit up at Rs 55.04cr
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Source: http://www.moneycontrol.com and 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.
US Fed rate cut likely to cast shadow on RBI credit policy
Highlights of Macroeconomic and Monetary Developments in India
Highlights of Macroeconomic and Monetary Developments in India
Godfrey Phillips net rises 53.52% in Dec `07 qtr
KEI Industries to set up subsidiary for power generation biz
IQMS Software to buy 51% stake in Object Xperts
Alembic to enter into US, European markets
Essar Steel plans jetty at Hazira
Lupin intends to acquire firm in US
Voltas eyes acquisitions in electro-mechanical projects
Hinduja Group to invest USD 50 bn in India
------------------------------------------------------
Moneycontrol.com
Mkt says 50% chance of a rate cut: Poll
FIIs +ve on India, but advocate risk recognition
RBI may hike CRR by April: DSP ML
Total land bank at 39 m sq ft: Kolte Patil
Great offshore Q3 net profit up at Rs 55.04cr
Kale’s cons revenue for Q3 up 41%, net profit up 14%
SISCOL net profit for Q3FY07-08 surges by 33%
GHCL's PAT at Rs 32.17cr
Zee News Q3 net profit at Rs 12.77 cr
Mkts may see some pre-Budget rally: Religare Sec
Source: http://www.moneycontrol.com and 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.
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