Sensex loses 333 pts at close

Sensex loses 333 pts at close


Save for a brief while this morning, when they edged up a bit, the benchmark indices Sensex and Nifty were seen struggling in the red right through the session today as weak global markets dampened the mood significantly. Investors were also reluctant to take positions ahead of the crucial US Federal Reserve meet today.

Though a few blue chip stocks rallied higher on selective buying support, the broad market never really looked capable of wriggling out of trouble this afternoon. So severe was the pressure that stocks cutting across sectors caved in meekly in late afternoon trade today.
While the Sensex ended the day with a loss of 333.30 points or 1.84% at 17,758.64, the Nifty lost 2.14% or 113.20 points as it settled at 5167.60.

Reliance Energy, the biggest loser in the Sensex today, went down by 5.4%. Hindustan Unilever lost 5.1%. ONGC, Reliance Communications, NTPC, Bajaj Auto and Reliance Industries lost 4% - 5%.

ICICI Bank, Tata Motors, DLF, Hindalco, Maruti Suzuki, Larsen & Toubro, Mahindra & Mahindra, Cipla and ITC ended lower by 1% - 2%. ITC, Satyam Computer Services, Grasim Industries, State Bank of India and Wipro also ended in the negative territory, albeit with less pronounced losses. Infosys Technologies, HDFC Bank and Ranbaxy Laboratories ended almost unchanged from their previous closing price.

BHEL (1.85%), HDFC (1.55%) and Tata Steel (1.05%) ended with sharp gains. Ambuja Cements and ACC moved up by 0.8% and 0.75% respectively. Tata Consultancy Services and Bharti Airtel gained marginal ground.

Suzlon Energy, Reliance Petroleum, BPCL, VSNL, ABB, Idea Cellular, Cairn India, Nalco, Siemens and GAIL India finished with sharp losses.

Sun Pharmaceuticals gained 8.75% on strong buying support thanks to a good show by the company in the October - December 2007 quarter. Zee Entertainment moved up by 4.35%. SAIL firmed up by 1.5%. Punjab National Bank and Tata Power posted modest gains.

Midcap and smallcap stocks were also hammered today. Reflecting the sell-off in these segments, the BSE Midcap and Smallcap indices drifted down by 2.4% and 2.22% respectively. The market breadth was weak. Out of 2787 stocks traded on BSE, 2018 stocks ended in the red. 726 stocks posted gains and 43 stocks ended at their previous closing levels.


Other sify.com stories:

Mercator Q3 net up 98%
M&M Q3 net up 67%
Private equity funding to touch $48 billion
Merck Q4 net at Rs 68.82 cr
Raymond Q3 net at Rs 9.36 cr

Power Grid Corporation Q3 net up 13.9% at Rs 384.28 cr
FDI norms relaxed in civil aviation, other sectors
Voltamp Transformers net up 118% at Rs 22.73 cr
Cummins India Q3 net up 18.63% at Rs 74.61 cr
IOB Q3 net up 24.88% at Rs 308.18 cr

EIH Q3 net up 16.89% at Rs 72.40 cr
Gillette India Q2 net up 12.59% at Rs 31.20 cr
MTNL Q3 net dips 53.20% at Rs 97.63 cr
Aditya Birla Nuvo Q3 net up 59.36% at Rs 84 cr
NTPC Q3 net dips 15.37% at Rs 1779.9 cr

Tata Chemicals Q3 net dips 41.55% at Rs 91.09 cr
IndusInd Bank Q3 net up 15.76% at Rs 25.04 cr
Andhra Bank Q3 net up 16.68% at Rs 159.0207 cr
OBC Q3 net dips 24.08% at Rs 138.48 cr
Aurobindo Pharma Q3 net at Rs 55.25 cr

Finance Ministry refutes talks of a harsh Budget
Zee Entertainment Q3 net up 18.41% at Rs 113.47 cr
Bajaj Auto Q3 net down 5%, misses forecast
JB Chemicals Q3 net dips 45.3% at Rs 10.67 cr
Dredging Corporation Q3 net dips 34% at Rs 14.89 cr

DLF Q3 net at Rs 2,145 cr
Bharti Airtel Q3 net up 42% at Rs 1,722 cr
Lanco Infratech Q3 net up 32.69% at Rs 82.519 cr




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.

EconomicTimes, Moneycontrol Stories

http://economictimes.indiatimes.com/



RBI could cut interest rates in coming months
Sunil Mehta, Country Head AIG India on the credit policy
FM endorses RBI's monetary stance
RBI disappoints Street; indices end flat
Auto industry frets over credit policy
------------------------------------------------
BPO Industry can touch $50 bn by 2012: Nasscom
Fund managers on monetary policy
JSW Energy files IPO papers
Cox and Kings files IPO papers

BCCI ensures nearly $1 bn riskless income from IPL
Bank of Baroda launches Financial Supermarket
Birla Group picks up stake in Core Projects
RBI says real GDP growth moderated to 8.9% from 10.2%

Gold rallies to all-time high at Rs 11,845
Motilal Picks: Kotak Bank, Bank of Maharashtra, Dena Bank
CRISIL IPO grade 3/5 to Vascon Engineers
IPOs draw good subscription amidst volatility
IPO of Shriram EPC, Bang Overseas, OnMobile Global and KNR Constructions draw good subscription amidst volatility

Equities end volatile session flat; RBI plays spoilsport
LIC offloads 2% stake in VSNL
Heard on the Street
BSE brokers blame bull vaastu for bear maul
Stocks to watch on Tuesday
Motilal posts buy on Simplex Infrastructure

-----------------------------------------------------------------------------
http://www.moneycontrol.com

Credit policy in-line with domestic factors: Experts
Post Policy: Banking stocks looks attractive, say experts
Mkts to settle at 17K levels: Mangal Keshav
RBI keeps all key policy rates intact
Stocks to watch: Tanla Sol, 3i Info
How have bankers reacted to Credit Policy?
Four Indians in Forbes Top 10 list

Permanent tax relief needed: President Bush
Buy Chennai Petroleum; target of Rs 454: Citigroup
SAIL Q3 net profit grows 32% to Rs 1935cr
RCF Q3 net profit at Rs 60.1cr

OnMobile Global IPO subscribed 11 times
Cox and Kings files DRHP with SEBI
SVEC Constructions IPO price band at Rs 85-95
KNR Constructions IPO subscribed fully
Tulsi Extrusions IPO opens on Feb 1; price ba
Shriram EPC IPO opens for subscription

Mundra Q3 net profit at Rs 52.4cr
Triveni Engg Q3 net profit at Rs 25.68cr
Godrej Indus Q3 net profit at Rs 33.06cr
Firstsource Q3 net profit at Rs 20.6cr

Subex Azure Q3 cons net loss of Rs 4.27 cr
29th-Jan-2008

Subex Azure has announced its third quarter numbers. It has posted consolidated net loss of Rs 4.27 crore for the quarter ended December 2007 as against net profit of Rs 19.12 crore in same quarter of last year.


Subex Azure Q3 cons net loss of Rs 4.27 cr
29th-Jan-2008

Subex Azure has announced its third quarter numbers. It has posted consolidated net loss of Rs 4.27 crore for the quarter ended December 2007 as against net profit of Rs 19.12 crore in same quarter of last year.



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

Deadpresident.blogspot.com

http://www.deadpresident.blogspot.com


RBI Monetary Policy - Text
Some points in that text


III. Monetary Measures
(a) Bank Rate 102. The Bank Rate has been kept unchanged at 6.0 per cent.(b) Repo Rate/Reverse Repo Rate103. The repo rate under the LAF is kept unchanged at 7.75 per cent.104. The reverse repo rate under the LAF is kept unchanged at 6.0 per cent.105. The Reserve Bank has the flexibility to conduct repo/reverse repo auctions at a fixed rate or at variable rates as circumstances warrant.106. The Reserve Bank retains the option to conduct overnight or longer term repo/reverse repo under the LAF depending on market conditions and other relevant factors. The Reserve Bank will continue to use this flexibility including the right to accept or reject tender(s) under the LAF, wholly or partially, if deemed fit, so as to make efficient use of the LAF in daily liquidity management.(c) Cash Reserve Ratio107. The cash reserve ratio (CRR) of scheduled banks is currently at 7.5 per cent. On a review of the current liquidity situation, it is considered desirable to keep the present level of the CRR at 7.5 per cent unchanged.108. The Annual Policy Statement for the year 2008-09 will be announced on April 29, 2008

------------------------------------------------------------------------
Spicejet

Jindal Steel and Power, JSW Steel, VSNL, Divis Labs, Dr Reddys Lab, HPCL, Educomp Solutions, Tata Tea, GSPL, Federal Bank, Mahindra Finance, Sadbhav E

Garware Wallropes

RBI Monetary Policy

Market Close: Indices Unchanged as Rate Unchanged

Post Market Commentary - Jan 29 2008

RBI's decision disappoints investors

Bank shares pull Sensex down as RBI holds rate steady

Grey Market - Shriram EPC, Onmobile Global, Reliance Power

Long Term Recommendations - Jan 29 2008

Expectations at the rate of Fed…Reddy may disappoint!

SBI, Tulip IT, Sterlite Tech, Cipla

Made huge profits ? Now..

Results Calendar Watch

Engineers India - Jan 28 2008

PSL

Bombay Rayon

Educomp, Dishman, Arvind Mills, Larsen Tourbo, Ashok Leyland

Prathiba Industries



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.

Results: SAIL, Maruti, Sterlite, Suzlon, Syndicate Bk, Yes Bk, Zee, GSKL, Thermax, Praj, Optockts, GE shipping

SAIL registers highest Q3 net at Rs 1,935 cr
Higher volume and cost reduction helped state-run steel giant SAIL register a record third quarter profit of Rs 1,935 crore, against Rs 1,471 crore in the corresponding period last year, a 32 per cent increase. The sales turnover during the quarter rose by 11.4 per cent to Rs 10,756 crore. The company netted its highest revenue for the first nine-month at Rs 30,026 crore.

"Riding on the back of improved product mix coupled with substantial increase in production of special grade steel and cost reduction, SAIL has achieved this profitability," its chairman S K Roongta said here. Profit after tax shot up by 20 per cent to Rs 5,160 crore during April-December period. Profit before tax was Rs 2,922 crore, highest in any third quarter, Roongta said, pointing out that this was 31 per cent higher than the same period last year.

SAIL achieved a record hot metal production of 11.3 million tons, 10.4 MT of crude steel and 9.6 MT of saleable steel dring the first nine months of the current fiscal. Its plants operated at 121 per cent average capacity utilisation in the third quarter, against 112 per cent achieved in the same period last year, the SAIL Chairman said. The steel giant further reduced its borrowings by Rs 412 crore in the third quarter to Rs 2,792 crore. With this, the PSU's debt: equity ratio came down to the lowest level of 0.13:1 at the end of the third quarter, he said.


Maruti Suzuki Q3 net profit up 24% YoY

Maruti Suzuki India's net profit for the quarter ended Dec 31, 2007 stood at Rs 467.04 crore, up 24.08 per cent compared with Rs 376.41 crore in the same quarter of previous year. Total income increased 27.23 per cent to Rs 4,844.80 crore from Rs 3,807.90 crore a year ago

Suzlon Q3 net profit jumps 91%; share up over 3%
Suzlon Energy net profit for the quarter ended Dec 31, 2007 rose 91.90 per cent to Rs 338.18 crore against Rs 176.23 crore in the quarter ended Dec 2006. Net sales increased 49.68 per cent to Rs 1,654.96 crore from Rs 1,105.67 crore last year. The strong results saw the shares rise 3.13 per cent to Rs 325 on NSE at 9:59 am.

Zee Entertainment Q3 net profit up 3% YoY
Zee Entertainment Enterprises net profit for the quarter ended Dec 31, 2007 rose 2.92 per cent to Rs 81.68 crore against Rs 79.36 crore in the same quarter of previous year. Total income increased 24.02 per cent to Rs 305.61 crore from Rs 246.42 crore year ago. The group’s net profit for October-December quarter grew 18.42 per cent to Rs 113.47 crore compared with Rs 95.82 crore in the corresponding quarter of previous year. Total revenue has amplified by 25.12 per cent to Rs 541.95 crore from Rs 433.15 crore in earlier year. At 3:08 pm, Zee Entertainment shares were up 4.81 per cent at Rs 267 on BSE

GlaxoSmithkline Q4 net profit jumps 9% [
MUMBAI: GlaxoSmithkline Consumer Healthcare has posted the un-audited results for the quarter ended Dec 31, 2007: GlaxoSmithkline’s net profit rose 9.13 per cent to Rs 27.5 crore for the October-December quarter compared with Rs 25.2 crore in the same quarter of previous year.. Total income increased 7.56 per cent to Rs 301.6 crore from Rs 280.4 crore a year ago. The audited results for the year ended Dec 31, 2007: The company’s net profit for the three months quarter ended Dec 31, 2007 grew 28.13 per cent to Rs 162.6 crore comapred with Rs 126.9 crore during the corresponding period of earlier year. Total income increased 16.08 per cent to Rs 1,346.7 crore from Rs 1,160.1 crore from the earlier year. At 3:20 pm, GlaxoSmithkline shares were up 2.46 per cent at Rs 625 on BSE.

Thermax Q3 net profit up 35%
Thermax has posted a net profit of Rs 75.03 crore, up 35.31 per cent for the quarter ended Dec 31, 2007 against Rs 55.45 crore in the same quarter of previous year. Total income increased 53 per cent to Rs 854.02 crore from Rs 558.17 crore a year ago. At 3:12 pm, Thermax shares were down 0.48 per cent at Rs 669.30 on BSE.

Sterlite Industries Q3 net profit falls 7%
Sterlite Industries India net profit after tax and exceptional items rose 7.48 per cent to Rs 230.85 crore for the quarter ended Dec 31, 2007 against Rs 214.79 crore in the same quarter of previous year. Total income decreased 13.21 per cent to Rs 2,794.63 crore from Rs 3,219.86 crore a year ago. The group’s net profit after tax attributable to consolidated group declined 33.85 per cent to Rs 855.31 crore for the October-December quarter compared with Rs 1,293.01 crore in the corresponding quarter of earlier year. Total income reduced 20.95 per cent to Rs 5,534.17 crore for the quarter from Rs 7,000.73 crore of previous year. Previous year figures have been regrouped wherever necessary. On account of sale of Power Transmission Line Division with effect from July 01, 2006, figures for current period are not strictly comparable to figures for the previous period / year. On Tuesday, Sterlite Industries shares closed down 3.17 per cent at Rs 768.10 on BSE.

Alstom Projects Q3 net profit down 0.66%

Syndicate Bank Q3 net profit up 20%
Syndicate Bank net profit for the quarter ended on Dec 31, 2007 rose 20.82 per cent to Rs 273.19 crore against Rs 226.12 crore in the same quarter of previous year. Total income increased 27.57 per cent to Rs 2,265.63 crore from Rs 1,776.03 crore year ago. On Tuesday, Syndicate Bank shares closed down 2.93 per cent at Rs 102.85 on BSE.

Praj Industries Q3 net profit up 17%
Praj Industries net profit 17.24 per cent to Rs 39.44 crore for the quarter ended on Dec 31, 2007 against Rs 33.64 crorefor the quarter ended Dec 2006. Net sales increased 1.32 per cent to Rs 180.22 crore from Rs 177.87 crore a year ago. The company has declared an interim dividend at Rs 1.98 per share (99 per cent) for the financial year 2007-2008.

Indo Rama Synthetics Q3 net profit up 137% [
Indo Rama Synthetics India’s net profit for the quarter ended Dec 31, 2007 rose 137.17 per cent to Rs 7.21 crore against Rs 3.04 crore in the same quarter of previous year. Total income increased 1.48 per cent to Rs 570.27 crore from Rs 561.95 crore a year ago.

Opto Circuits posts 103% growth in sales in Q3 FY08
The board of Opto Circuits (India) Ltd Tuesday approved and adopted the company's financial results for the third quarter and first nine months ended Dec 31, 2007. On a consolidated basis, the medical diagnostics and interventional products company posted a 103 per cent growth in sales that stand at Rs 127.32 crore compared to Rs 62.80 crore in the corresponding period last year. Net profit for the quarter stood at Rs 35.74 crore, as against Rs 20.01 crore in the previous year, a 79 per cent rise. For the nine months ended Dec 31, 2007, Opto Circuits posted consolidated sales of Rs 347.60 crore as against Rs 167.37 crore of the corresponding period and a net profit of Rs 97.63 crore as against Rs 49.02 crore in the previous year, an increase of 108 per cent in sales and 99 per cent in profit. "We are looking at new markets for exploring the possibility of increasing our market share. We are confident of making a significant imprint in the global market through in-organic growth and wider market spread," said Vinod Ramnani, chairman & managing director, after announcing the results. In the Octo-Dec quarter, the company received US FDA approval for two of its new generation range of Pulse Oximeters, M30 and M34. The company obtained accreditation of ISO 14001:2004 for Environmental Management System and OHSAS 18001:2007 for occupational Health and Safety Management System.

Indoco Remedies Q2 net profit up 23% [
Indoco Remedies on Tuesday reported a net profit of Rs 11.85 crore for the second quarter ended Dec 31, 2007, an increase of 23 per cent over Rs 9.63 crore posted in the corresponding quarter of 2006. Turnover for the quarter increased 15.91 per cent to Rs 94.93 crore from Rs 81.90 crores year earlier.

GE Shipping Q3 net profit up 77% YoY
Net profit of The Great Eastern Shipping for the quarter ended December 31, 2007 rose 77.01 per cent to Rs 293.57 crore against Rs 165.85 crore in the same quarter of previous year. Net sales increased 33.13 per cent to Rs 653.32 crore from Rs 490.75 crore a year ago. The company has declared an interim dividend of Rs.3.50 per share.

Timex Watches Q3 net profit shoots up 595%
Accentia Technologies Q3 net profit jumps 75%

Yes Bank Q3 net profit jumps 116% YoY
Yes Bank net profit for the quarter ended Dec 31, 2007 rose 116.10 per cent to Rs 54.24 crore against Rs 25.10 crore in same quarter of 2006. Interest earned increased 115.44 per cent to Rs 346.36 crore from Rs 160.77 crore year ago. Interest expended grew 127.91 per cent to Rs 253.32 crore in the October-December quarter compared with Rs 111.15 crore during the corresponding quarter year earlier.




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: Dabur India, Bombay Dying, UshaMartin, GNFC, Elecon Engg, BGR, Asian Paints, NALCO, IndiaGlycols etc

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.

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.

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.

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.

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.