by admin on July 28, 2010
GTL Infrastructure
GTL Infrastructure Ltd has posted a net loss of Rs (193.292) million for the quarter ended June 30, 2010 as compared to net profit of Rs 186.955 million for the quarter ended June 30, 2009. Total Income has increased from Rs 855.039 million for the quarter ended June 30, 2009 to Rs 1437.376 million for the quarter ended June 30, 2010.
Welspun Corp
Welspun Corp Ltd has posted a profit after tax after minority interest of Rs 1906.40 million for the quarter ended June 30, 2010 where as the same was at Rs 1119.70 million for the quarter ended June 30, 2009. Total Income is Rs 24271.30 million for the quarter ended June 30, 2010 where as the same was at Rs 19460.10 million for the quarter ended June 30, 2009.
Mahindra & Mahindra
Mahindra & Mahindra Ltd has posted a net profit from ordinary activity after tax of 5623.90 million for the quarter ended June 30, 2010 as compared to Rs 4008.50 million for the quarter ended June 30, 2009. Total Income has increased from Rs 42661.60 million for the quarter ended June 30, 2009 to Rs 51805.80 million for the quarter ended June 30, 2010.
Lupin
Lupin Ltd has posted a net profit of Rs 1963.00 million for the quarter ended June 30, 2010 as compared to Rs 1401.10 million for the quarter ended June 30, 2009. Total Income has increased from Rs 11066.40 million for the quarter ended June 30, 2009 to Rs 13351.10 million for the quarter ended June 30.
2010
by admin on July 28, 2010
The Indian markets after trading on a sluggish note in the morning session ended the day on a negative note to close below the 18K mark. The benchmark indices have slipped this afternoon on the back of weakness in select index heavyweights such as RIL and ICICI Bank. The main draggers for the day are Oil & Gas and Realty indices as they closed the day on a negative note declining more than one percentage points. Some gains are witnessed by the Auto and Healthcare indices as they closed the day on a flat note in the positive territory. The Sensex closed the day in red declining 120.24 points or 0.67 percentage points to close at 17,957.37. Nifty ends the day at 5397.55 declining 33.05 points or 0.61 percentage points. Market breadth was negative with 1,197 advances against 1,682 declines on BSE. On the global front, European stocks climbed, sending the Stoxx Europe 600 Indexto a 12-week high, as earnings from Air France-KLM Group to LVMH Moet Hennessy Louis Vuitton SA exceeded estimates. Asian shares and U.S. index futures climbed.
by admin on July 26, 2010
Buy Allahabad Bank, last close Rs 185.15, buy around Rs 179.50-183.70, stop loss Rs 178, book profit at Rs 189.40-199.20.
Sell PFC, last close Rs 317.60, sell around Rs 326.20-321.10, stop loss Rs 330, cover short at Rs 312.50-298.80.
Buy Lakshmi Vilas Bank with a stop loss of Rs 96 for a target of Rs 112.
Buy Alstom Projects with a stop loss of Rs 668 for a target of Rs 774.
by admin on July 23, 2010
Axis Mutual Fund has announced the introduction of Systematic Withdrawal Plan (SWP) under Axis Equity Fund, Axis Income Saver and Axis Triple Advantage Fund. The facility will be available with effect from July 21, 2010 for Axis Equity Fund and Axis Income Saver and August 28, 2010 for Axis Triple Advantage Fund.
There are many key features for this facility. The minimum value of SWP is Rs 1,000 for monthly and quarterly option. The additional amount is in multiples of Re 1. Further, minimum number of SWP is six for monthly option and four for quarterly option. Also, Contingent Deferred Sales Charge (CDSC) / exit load, if any, is applicable to SWP.
by admin on July 22, 2010
B. L. Kashyap and Sons
B L Kashyap and Sons, an engineering and construction company, has bagged new projects worth Rs 8.16 billion (approximately), in the segments of residential and industrial construction in the month of July, 2010.
Bajaj Auto
Bajaj Auto Ltd has posted a net profit of Rs 5901.50 million for the quarter ended June 30, 2010 as compared to Rs 2934.90 million for the quarter ended June 30, 2009. Total Income has increased from Rs 23616.10 million for the quarter ended June 30, 2009 to Rs 39717.30 million for the quarter ended June 30, 2010.
Steel Strips Wheels
Steel Strips Wheels Ltd (SSWL) has informed that M/s. ETOP one of the largest distributors of wheel & tyre assemblies in Eastern Europe have reinforced their confidence in SSWL by releasing a repeat order for appx 7,000 wheels to be dispatched in August 2010. This follows initial orders executed by SSWL in recent past.
Havells India
Havells India is planning to acquire electrical business of Standard Electricals, a company under the same management, through a 100% subsidiary of the company. The company also plans creation of business reconstruction reserve for writing off of all the non-operating/ extraordinary/ abnormal costs incurred/to be incurred on international acquisitions / organic growth projects of the company.
by admin on July 22, 2010
The Indian markets after trading in the negative territory in most part of the day bounced in the later hours of trade to give a closing on the positive note above the 18000 mark. All the broader indices and most of the sectoral indices closed the day on a positive note with the only exception being the IT index to close the day flat on a negative note. The main gainers for the day are Consumer Durables, Metal and Auto indices which ends the day on a positive note gaining more than one percentage points. The Sensex closed the day in green gaining 135.92 points or 0.76 percentage points to close at 18,113.15. Nifty ends the day at 5441.95 gaining 42.60 points or 0.79 percentage points. Market breadth was positive with 1,546 advances against 1,362 declines on BSE. On the global front, European stocks gained as reports showed unexpected growth in the region’s manufacturing and U.K. retail sales, easing concern that the economic recovery may be faltering. U.S. index futures climbed.
by admin on July 20, 2010
After an year being booked in the biggest corporate fraud case in India, the Andhra Pradesh High Court has granted bail to five accused in the multi-crore rupee Satyam scam. The court today granted bail to the prime accused Ramalilnga Raju’s brother and former managing director, B Rama Raju and former chief financial officer Vadlamani Srinivas.
The other three are also former Satyam employees – G. Ramakrishna, vice-president (finance), D. Venkatapathi Raju, senior manager (finance), and Srisailam, assistant manager.
With this, all Satyam accused except B Ramalinga Raju have got bails from various courts on different occasions. The High Court has last month rejected the bail plea of Ramalingam Raju. All the accused are facing charges of criminal conspiracy, criminal breach of trust, cheating, forgery and falsification of accounts.
Earlier, solicitor general of India Gopal Subrahmaniam had urged the court not to grant bail to any of the key accused which would result in tampering of evidence and influencing the witnesses.
by admin on July 19, 2010
Philip Poole, Global Head-Macro & Investment Strategy at HSBC Global AMC said that Stress Test will be important to gauge sovereign issues. It may highlight sizable capital need for banks. He feels that raising of additional capital will be the key issue.
He further said that emerging markets are attracting funds but are lower than last year. There are more inflows in the country funds than BRIC funds. He is overweight on emerging markets relative to global markets. He likes Brazil, Russia, Korea, and mainland markets. Inflation in India is still a concern, he added.
HSBC Global is of the view that EU bank Stress Test will be an important market event. Bank Stress Test will throw up capital requirements.
HSBC Global says that EMs attract fund flows at lower levels than last year. Single market funds like India, Brazil are attractive. EMs are still attracting funds, at a lower level than last year, but on a net basis, money is coming in again. Interesting thing within the equity space for example, is that money is tending to go into single market funds. HSBC Global AMC likes India, and Brazil as well, rather than into BRICs or in to more generic EM funds. Interest is seen in EM currencies. Interest is seen in corporate bonds in the EM world. So the fund flows are healthier than a month or so ago. That correction playing out with risk being taken off the table.
HSBC Global is overweight on EMs as against developed markets. It likes Brazil, Russia, Korea, Asia. It is of the view that there was a good performance by Indian markets given global turbulence. India is a core market amongst EMs and the growth drivers are positive on India. Focus is on Indian inflation. HSBC Global expects another 125-150 bps hike going forward. Concern in India is trade deficit at 10% of GDP.
HSBC Global likes consumption story in India. Indian Real Estate markets are seeing recovery. It likes Industrials, as there is a good order book growth. HSBC is underweight on Indian financial sector.
by admin on July 19, 2010
Tata Mutual Fund has approved 23 July 2010 as record date for declaration of dividend on the face value of Rs 10 per unit under dividend option of Tata Dividend Yield Fund.
The quantum of dividend will be Rs 2.00 per unit, subject to availability & adequacy of distributable surplus on the record date. The NAV of the scheme was at Rs 22.3059 per unit as on 15 July 2010.
Tata Dividend Yield Fund is an open ended equity fund, with an investment objective to provide income distribution and / or medium to long term capital gains by investing predominantly in high dividend yield stocks.
by admin on July 19, 2010
Price Band fixed at Rs. 126 to Rs. 133
Hyderabad-based Midfield Industries Limited (“The Company”) proposes to enter the capital markets on July 19, 2010 with an IPO (“The Issue”) of 4,500,000 equity shares of Rs 10 each through 100% book building process. The Price Band has been fixed at Rs 126 to Rs 133 and the Issue closes on July 21, 2010. The Issue would constitute 35.10% of the fully diluted post issue paid-up capital of the Company. Brickwork Ratings India Pvt. Ltd has assigned “IPO grading 2” to the Issue. Atherstone Capital Markets Limited is the Book Running Lead Manager to the Issue and Bigshare Services Pvt. Ltd is the Registrar to the Issue.
Midfield Industries proposes to utilize the part of the net proceeds of the issue to fund the expansion of its existing plants as well as to set up new manufacturing facilities. The Company intends to expand its current manufacturing facilities at Hyderabad, Mumbai and Roorke while setting up a new VCI paper facility at Hyderabad and a High Tensile Steel Strapping facility at Sharjah. Midfield Industries plans to expand the existing manufacturing facility at Hyderabad by setting up PET Strap Stretch Films, PP Strapping, Collated nails- nails making machine, seals manufacturing with an investment of Rs 131.52 million. The Company also proposes to set up
a new facility for manufacture of VCI Paper at Hyderabad with an investment of Rs. 41.67 million and expand existing manufacturing facility at Mumbai by setting up Angle Board, Collated Nails, Seals manufacturing, Heat Treatment facility with an investment of Rs. 62.73 million. Further. The Company’s turnover for the year ended 31st March 2010 was Rs 903.71 million and PAT at Rs 81.42 million, as compared to turnover of Rs 834.71 million and PAT of Rs 59.09 million during 2008-09 and turnover of Rs 674.27 million and PAT of Rs 41.60 million in 2007-2008.
