Titan Industries, IFCI, Tata Elxsi, Amtek Auto, Bharat Electronics declared results today

Titan Industries
Net profit was up at Rs 250 crore versus Rs 158.9 crore
Net sales were at Rs 4,674 crore

Tata Teleservices (Maharashtra)
Net sales were up at Rs 567.1 crore versus Rs 557.3 crore

IFCI
Net profit was up at Rs 243 crore versus Rs 143 crore

Oudh Sugar Mills
Net profit was at Rs 10 crore

Tata Elxsi
Net profit was down at Rs 12.3 crore versus Rs 23.1 crore
Net sales were up at Rs 106.8 crore versus Rs 106.4 crore

Amtek Auto
Net profit was up at Rs 42.4 crore versus Rs 22.5 crore
Net sales were up at Rs 340.4 crore from Rs 243.2 crore

Tech Mahindra
Net profit was up at Rs 226.9 crore versus Rs 172.78 crore
Net sales were down at Rs 1,183.29 crore versus Rs 1,187.29 crore

Bharat Electronics
Net profit was down at Rs 199.7 crore versus Rs 559.4 crore
Net sales were down at Rs 1,813.7 crore from Rs 2,735.2 crore

Vijaya Bank
Net profit was at Rs 131 crore

Sona Koyo Steering Systems
Net profit was at Rs 10.1 crore
Net sales were up at Rs 242 crore from Rs 193 crore

IDBI Bank
Net profit was up at Rs 318.4 crore versus Rs 313.7 crore

DQ Entertainment International
Net profit was at Rs 26.6 crore
Net sales were at Rs 175 crore

Bharati Shipyard
Net profit was up at Rs 35.6 crore versus Rs 35.4 crore
Net sales were up at Rs 349 crore versus Rs 284.3 crore

Kajaria Ceramics
Net profit was at Rs 12.8 crore
Net sales were up at Rs 203 crore versus Rs 186 crore

Sintex India
Net profit was up at Rs 138.7 crore versus Rs 114 crore
Net sales were up at Rs 1,083.2 crore versus Rs 830.6 crore

IRB Infrastructure Developers
Net profit was up at Rs 141.7 crore versus Rs 91.4 crore
Net sales were up at Rs 501.7 crore from Rs 433.1 crore

Suven Life Sciences
Net profit was up at Rs 1.58 versus Rs 35 Lakh
Net sales were up at Rs 1,899.9 crore versus Rs 1,860 crore

Diamond Cables
Net profit was up at Rs 22 crore as against Rs 13 crore

RSWM
Net profit was at Rs 35

GVK Power & Infrastructure
Net profit was up at Rs 156 crore versus Rs 107.6 crore

Info Edge India’s net sales in Q4 FY10 rises to Rs 65.2 crore

In a statement released by Sanjeev Bikhchandani, the Founder and Chief Executive Officer of Info Edge (India) Ltd, the firm already informed the public about its fourth quarter outputs in financial year 2009 to 2010 wherein its net sales increased to Rs 65.2 crore against Rs 57.7 crore QoQ.

BSE Sensex rises 0.32% as all sectors, but metal, grow

The BSE 30-share Sensex was up 55.24 points or 0.32% to 17,558.71. The index rose 143.14 points at the day's high of 17,646.61 in morning trade. The Sensex was unchanged at the day's low of 17,503.47 in early trade.

The S&P CNX Nifty was up 23.85 points or 0.45% to 5278

The BSE Mid-Cap index rose 1% and the BSE Small-Cap index rose 0.39%. Both these indices outperformed the Sensex.

All the sectoral indices on BSE, except the BSE Metal index, logged gains. The BSE Realty index (up 1.77%), the BSE Consumer Durables index (up 1.02%), the BSE Bankex (up 0.55%), the BSE Oil & Gas index (up 0.85%), the BSE Auto index (up 1.51%), the BSE Healthcare index (up 1.12%), the BSE IT index (up 0.85%), the BSE Teck Index (up 0.71%), the BSE Capital Goods index (up 0.54%), the BSE PSU index (up 0.73%), and the BSE Power index (up 0.53%), outperformed the Sensex.

The BSE FMCG index (up 0.19%), and the BSE Metal index (down 0.41%), underperformed the Sensex.

The turnover on BSE amounted to Rs 4736 crore, higher than Rs 4,275.92 crore on Thursday, 29 April 2010.

Market Breadth:
Positive 1687 Negative 1253 Unchanged 98
From the 30 share Sensex pack, 17 rose and rest fell.

Hitachi Transport acquires full ownership in Flyjac Logistics

According to Hitachi Transport System, a subsidiary of Hitachi Ltd established in Tokyo, it already acquired full ownership in Flyjac Logistics, the warehousing as well as logistics firm in India having existing markets in 40 nations, for a value of Rs 250 crore.

350 million handsets already produced by India refinery of Nokia

The global leader in mobile manufacturing, Nokia, the firm already produced 350 million handsets at its refinery in India after four years of doing the business wherein it created a stir both nationally and internationally. Its international markets include North America and Europe for a total of 70.

C&C Constructions seals a development deal with Isolux Corsan

C&C Constructions Ltd already announced that it sealed a deal with Spain’s Isolux Corsan to mutually carry out development deals in road and rail network segment wherein 40% stake ownership in the deals goes to C&C Constructions for Asia and Soviet Block not including nations in eastern Europe.

Rs 250 crore Q4 FY10 net profit rise achieved by Titan Industries

According to Bhaskar Bhat, the Managing Director of Titan Industries, the company already announced its fourth quarter outputs in financial year 2009 to 2010 wherein its net profit increased to Rs 250 crore against Rs 158.9 crore and its net sales soared to Rs 4,674 crore.

Phoenix Mills’ net sales in Q4 FY10 soars to Rs 34.5 crore

In a statement released by Shishir Shrivastava, the Executive Director of Phoenix Mills, the firm already informed the public about its fourth quarter outputs in financial year 2009 to 2010 wherein its net sales increased to Rs 34.5 crore against Rs 21.1 crore year-on-year.

18-20% income rise predicted by Panacea Biotec in FY11

In a statement released by the Joint Managing Director of Panacea Biotec, Rajesh Jain, the firm was already granted with the US FDA or Food and Drug Administration license for its Baddi medicinal manufacturing plant located in Himachal Pradesh. They predict income increase of around 18% to 20% this FY11.

Uflex aims to earn USD 1 billion in March 2012

According to RK Jain, the Finance Group President of Uflex Limited, the firm already approved its scheme for operation-widening nationally and globally until March 2012 beginning April 2009 wherein its investment of USD 250 million is expected to give returns of USD 500 million by March 2009 and USD 1 billion after 3 years.

Samsung Electronics aims to invest USD 17.31 billion for semiconductors

The global leader in flat screen televisions and memory chips manufacturing, Samsung Electronics Co. Ltd has been aiming for 19.3 trillion won or USD 17.31 billion investments in semiconductors within one year with a breakdown of 8.3 trillion in 2010 and 11 trillion in 2011.

Firstsource Solutions’ net profit in Q4 FY10 escalates to Rs 35.6 crore

In a statement released by Ananda Mukerji, the Chief Executive Officer and Managing Director of Firstsource Solutions, the firm already informed the public about its fourth quarter outputs in financial year 2009 to 2010 wherein its consolidated net profit escalated to Rs 35.6 crore as compared to Rs 33.3 crore QoQ.

Shadeed Iron to be purchased by Jindal Steel and Power

Jindal Steel and Power, a sponge iron manufacturing company, is currently on the final stage of purchasing Shadeed Iron & Steel, a firm established in Oman, for approximately USD 500 million wherein an agreement, to be financed by combination of arrears and domestic accumulation, has already been consummated.

Ceat plans to increase tyre costs by 3.5% on first day of May

According to the Managing Director of Ceat, PK Chowdhary, the firm is already planning to increase tyre costs by 3.5% on the first day of May this year. Moreover, it aims to further boost its tyre cost to 15% at minimum level so that strong margins can be attained.

HCL Tech seals 3-year IWS venture deal with Melbourne IT

In a statement released by HCL Technologies Ltd, the firm already sealed a three-year deal with an amount of USD 18 million with its partner Melbourne IT for the purpose of sustaining the IWS or integrated web services operation conversion venture of Melbourne IT.

Crompton Greaves to have 3 subsidiaries in Nelco

According to the statement released by SM Trehan, the Managing Director of Crompton Greaves, the firm has been preparing to purchase three operation units in Nelco to the amount of Rs 92 crore namely Traction Electronics, Supervisory Control And Data Acquisition (SCADA) and Industrial Drives.

NAVs wrapped up the session on a positive note

As the benchmark Nifty concluded the session exceeding the 5250 mark, equity diversified NAVs wrapped up the day positively with a soaring advance:decline ratio of 243:11. The banking as well as MNC sectors witnessed share buying interest while pharma, technology and FMCG sectors were compounded.

Max India, Bupa launch merger unit

Max Bupa Health Insurance, an independent health insurance unit, was introduced by Bupa, a healthcare firm established in United Kingdom, and Max India having a primary principal asset valued at Rs 150 crore. Bupa has 26% control in the merger while the rest by Max India.

Satluj Jal Vidyut Nigam IPO attains 43% subscription on day one

The IPO of Satluj Jal Vidyut Nigam or SJVN attracted interest from buyers and attained 43% subscription during day one of its launching. The firm expects to accrue Rs 1,000 crore by means of this issue, which got public offers for 17.77 crore equity shares versus the 41.5 crore equities issue price.

Jaypee Infratech IPO achieves 84% subscription on first day

The IPO of Jaypee Infratech attained positive reaction from stockholders and 84% subscription during day one of its launching. The firm expects to accrue Rs 2,262 crore by means of this issue, which got public offers for 18.58 crore equity shares, until its IPO conclusion on May 4.

Siemens, Subex, Pfizer, Dhampur Sugar Mills, Cadila Healthcare declared results today

Puravankara Projects
Net profit was up at Rs 43.7 crore versus Rs 14.6 crore
Net sales were up at Rs 122.8 crore versus Rs 67.9 crore

Mahindra Holidays and Resorts India
Net profit was up at Rs 32.2 crore versus Rs 29.8 crore
Net sales were up at Rs 124 crore versus Rs 100 crore

Dhampur Sugar Mills
Net profit was down at Rs 12.5 crore versus Rs 17.3 crore
Net sales were up at Rs 285 crore versus Rs 109 crore

Indian Overseas Bank
Net profit was down at Rs 127 crore versus Rs 322 crore

Heidelberg Cement India
Net profit was down at Rs 40.25 crore versus Rs 48.8 crore
Net sales were up at Rs 267.8 crore versus Rs 254.4 crore

Gujarat Heavy Chemicals
Net profit was up at Rs 63 crore versus Rs 25 crore
Net sales were up at Rs 347.3 crore versus Rs 313 crore

Ashok Leyland
Net profit was up at Rs 222.66 crore versus Rs 53.32
Net sales were up at Rs 2,939.04 crore versus Rs 1,218.12 crore

ITD Cementation India
Net profit was up at Rs 4.5 crore versus Rs 2.18 crore
Net sales were down at Rs 269.4 crore versus Rs 290.46 crore

Mahindra Ugine Steel Company
Net profit was at Rs 5.2 crore
Net sales were up at Rs 317 crore versus Rs 197 crore

Siemens
Net profit was down at Rs 181 crore versus Rs 225 crore
Net sales were down at Rs 2,212 crore versus Rs 2,368 crore

Shriram Transport Finance Corporation
Net profit was up at Rs 264 crore versus Rs 153.8 crore
Net sales were at Rs 1,190 crore

Subex
Net profit was down at Rs 26.5 crore versus Rs 42 crore
Net sales were at Rs 114.7 crore

MRF
Net profit was up at Rs 95.8 crore versus Rs 68.7 crore
Net sales were up at Rs 1,767.6 crore versus Rs 1,404.7 crore

Pfizer
Net profit was up at Rs 42.4 crore versus Rs 39 crore
Net sales were up at Rs 203 crore versus Rs 186 crore

Oriental Bank of Commerce
Net profit was up at Rs 317 crore versus Rs 195.8 crore

Andhra Bank
Net profit was up at Rs 240 crore versus Rs 201.2 crore

UltraTech Cement
Net profit was down at Rs 228 crore versus Rs 309.5 crore
Net sales were up at Rs 1,899.9 crore versus Rs 1,860 crore

CESC
Net profit was up at Rs 100 crore versus Rs 94 crore
Net sales were up at Rs 754 crore versus Rs 741 crore

Cadila Healthcare
Net profit was up at Rs 119 crore versus Rs 58 crore
Net sales were up at Rs 816 crore versus Rs 702.5 crore

Consolidated Construction Consortium
Net profit was up at Rs 39 crore as against Rs 20 crore

Oriental Bank aims to achieve 20% FY11 growth

According to T. Y. Prabhu, the Chairman of Oriental Bank of Commerce, the firm revealed that a 62.5% increase in quarterly profit in the fourth quarter of FY10 due to soaring interest along with commission earning exceeded its estimate. Furthermore, the company anticipates a 20% rise in the financial year 2010 to 2011.

ArcelorMittal predicts strong rebound in second quarter of 2010

The global leader in steel manufacturing, ArcelorMittal, made a prediction of a strong rebound in client requirement as well as costs in every major market in quarter two following the firm’s core revenues in the January to March fell short of the goal.

4.41% bid-increase against 35 billion rupees base achieved on 17th day of 3G auction

According to the Department of Telecommunications, 100 rounds of bid for countrywide cover in 3G or third-generation spectrum public sale of India were completed until Thursday. The said auction already attained Rs 37,688 crore or 4.41% bid-increase from 35 billion rupees base on its seventeenth day.

ETA Star Cement of Dubai to be acquired by UltraTech

ETA Star Cement Co, a firm established in Dubai, is being eyed for purchase by UltraTech Cement for USD 380 million business worth in order to penetrate the Middle East as well as Bangladesh markets. After the deal is sealed, ETA Star will then be operated administratively by UltraTech.

AT&T accrues USD 168 million from 7% stake sale in Tech Mahindra

AT&T, a US telecoms giant, already made a 7% stake sale in one of India’s top firms Tech Mahindra, by means of block agreement to Life Insurance Corporation of India or LIC wherein AT&T accumulated USD 168 million from this and USD 120 million is to be invested for operation-widening ventures soon.

Actis, Tata to make key infrastructure developments until 2015

Actis, a private equity company, along with Tata Group reveals an intention in bidding for USD 2 billion of thoroughfare ventures in India until 2015 in order to make key infrastructure developments, according to Sanjiv Agarwal, the head of infrastructure in South Asia operations of Actis.

CESC to construct Rs 3,200 crore energy refinery

According to Sanjiv Goenka, the Vice Chairman of CESC, the firm plans to continue its 600 megawatt energy Balaghar venture in West Bengal through Rs 3,200 crore investment primarily because of the regular power interruptions. Prior to this, the firm will be requesting for environmental license two to three days from now.

One of Goldman Sachs’ CEO to come from ICICI Bank

ICICI Bank’s top level management official, Sonjoy Chatterjee, looms to be assigned by Goldman Sachs, a Wall Street bank, as one of its Chief Executive Officer for Indian operations together with the American Brooks Entwistle, a manager of bank operations in India which started January 2006.

Eicher Motors’ net profit in Q4 FY10 soars to Rs 40.2 crore

In a statement released by Siddharth Lal, the Chief Executive Officer of Eicher Motors, the firm already informed the public about its fourth quarter outputs in financial year 2009 to 2010 wherein its net profit went soaring to Rs 40.2 crore as compared to Rs 15.8 crore YoY.

Prasugel to be introduced in India by Glenmark

An anti-platelet medicine, Prasugel, is expected to be introduced by Glenmark Pharmaceuticals in India wherein the said medicine accounts for an approximate trading value of Rs 300 crore in the country. Moreover, this was being sold already in the United States as Effient since 2009.

Patni Computer plans to acquire 2 to 3 firms

According to CFO of Patni Computer Systems Ltd, Surjeet Singh, this software service provider in India has been studying carefully about the possible purchase of two to three conglomerates in Europe as well as in Asia Pacific using the accumulated USD 500 million for those ventures.

BSE Sensex rebounds with 0.71% gain as most sectors advance

The BSE 30-share Sensex rose 123.39 points or 0.71% to 17,503.47. The index rose 152.78 points at the day's high of 17,532.86 in late trade. The Sensex rose 2.01 points at the day's low of 17,382.09 in early trade.

The S&P CNX Nifty gained 38.70 points or 0.74% to 5254.15.

The total turnover on BSE amounted to Rs 4232 crore, lower than Rs 4780.99 crore on Wednesday, 28 April 2010.

The BSE Mid-Cap index rose 1.08% and the BSE Small-Cap index rose 1.29%. Both these indices outperformed the Sensex.

Most of the sectoral indices on BSE rose. BSE Realty index (up 1.96%), Consumer Durables index (up 1.69%), Bankex (up 1.62%), Metal index (up 1.14%), Oil & Gas index (up 1.1%), Auto index (up 0.92%), outperformed the Sensex.

BSE FMCG index (down 0.96%), Healthcare index (down 0.34%), IT index (down 0.25%), Teck Index (down 0.18%), Capital Goods index (up 0.31%), PSU index (up 0.43%), Power index (up 0.69%), underperformed the Sensex.

Market Breadth:
Positive 1926 Negative 1002 Unchanged 93
From the 30 share Sensex pack, 19 rose and rest fell.

Jaypee Infratech IPO Review

Jaypee Infratech Ltd. (JIL) is a part of the Jaypee Group which was incorporated on April 5, 2007 as a special purpose company to develop, operate and maintain the Yamuna Expressway (165 km) in the state of Uttar Pradesh, connecting Noida and Agra. JIL has the Concession Agreement from the Yamuna Expressway Industrial Development Authority (YEA) to develop, operate and maintain the Yamuna Expressway which also provides for the right to develop 25 million square metres of land along the Expressway at five locations for residential, commercial, amusement, industrial and institutional purposes.

Under the Concession JIL have the right to earn toll revenue for a period of 36 years following the award of a certificate of completion of the expressway after which the expressway will be transferred to the YEA. JIL expect to start earning from toll and other expressway-related revenues from the Yamuna Expressway from FY12, following completion of construction of the expressway.

Post issue Promoters and Promoter groups shareholding will reduce to (83.27%-84.49%) from existing 99.10%.

5 % Discount to Retail Investor

 

Issue Objectives  

• To partially finance the Yamuna Expressway Project
• To fund general corporate expenditure 

Jaypee Infratech Limited IPO Grading / Rating ICRA and CARE has assigned an IPO Grade 3 indicating average fundamentals.

Issue Open: Apr 29, 2010 - May 4, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: Rs. 1650 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 102 - Rs. 117 Per Equity Share
Market Lot: 50 Shares
Minimum Order Quantity: 50 Shares
Listing At: BSE, NSE

Jaypee Infratech IPO Review
Jaypee Infratech Draft Prospectus
Jaypee Infratech Allotment Status
Jaypee Infratech Basis of Allotment

Hexaware Tech achieves Rs 11.6 crore consolidated net profit

According to Atul Nishar, the Chairman of Hexaware Technologies, the firm already announced it quarter one outputs in the calendar year 2010 wherein Rs 11.6 crore consolidated net profit was achieved lower than the previous Rs 36 crore QoQ while Rs 222 crore consolidated net sales was attained.

Food inflation increases 16.61% on yearly basis

According to the statistics released by the government, the record shows that the food inflation in India increased 16.61% in a year span until April 17 but below the 17.65% in the past week. On the other hand, fuel price index increased 12.69% way above the 12.45% last week.

SJVNL IPO Review

SJVN Ltd. (SJVNL) was incorporated as Nathpa Jhakri Power Corporation Pvt. Ltd. in May 1988. Subsequently in September 2002, the name was changed to Satluj Jal Vidyut Nigam Ltd and further changed to present in September 2009. SJVNL is a hydroelectric power generation company established as a joint venture (JV) between the Centre and the Himachal Pradesh government. The Centre holds 75% stake in the JV, while the rest is owned by the state government. The company owns and operates Nathpa Jhakri Hydro Power Station (NJHPS) located in the state of Himachal Pradesh. Currently, it is the largest operational hydroelectric power generation facility in India based on installed capacity with an aggregate generation capacity of 1,500 MW.

Out of the total energy generated at NJHPS, 12% is supplied free of cost to the home state i.e. Himachal Pradesh. From the remaining 88% energy generation, 25% is supplied to HP at bus bar rates. Remaining power is allocated to the beneficiary states/Union Territories of Northern Region by Ministry of Power, Government of India. The company is currently constructing the Rampur Project, which is expected to be a 412 MW hydroelectric power generation facility located downstream from the NJHPS. The said Project is projected to be completed and commissioned in 2013.

Post issue, the Government of India's stake in the company will reduce to 64.47% from existing 74.50%.

 

5 % Discount to Retail Investor

Issue Objectives  

Through this issue the Government of India is planning to divest 10.03% of its total stake in the company. This being an offer for sale, the company shall not receive any proceeds of this offer and all the proceeds less the expenses of the offer shall be received by the selling shareholder.

Satluj Jal Vidyut Nigam Limited IPO Grading / Rating CARE has assigned an IPO Grade 4 indicating above average fundamentals.

Issue Open: Apr 29, 2010 - May 30, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 415,000,000 Equity Shares
Issue Size: Rs. 954.5 to 1079 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 23 - Rs. 26 Per Equity Share
Market Lot: 250 Shares
Minimum Order Quantity: 250 Shares
Listing At: BSE, NSE

Satluj Jal Vidyut Nigam IPO Review
Satluj Jal Vidyut Nigam Draft Prospectus
Satluj Jal Vidyut Nigam Allotment Status
Satluj Jal Vidyut Nigam Basis of Allotment

Bharat Forge to invest USD 140 million via QIP for capital goods ventures

A USD 140 million fund by means of QIP or Qualified Institutional Placement has already been accrued lately by Bharat Forge, a top forging firm, according to Baba Kalvani, the firm’s Chairman and Managing Director wherein the finance is planned to create a venture with non-automotive and capital goods conglomerates.

Shopper Stop aims 51% stake increase in Hypercity

The top level management of Shopper’s Stop, a trading firm, already granted its permission to a 51% increase of its stake in Hypercity Retail (India) Ltd through purchase of extra 32% stake from other units which must be consummated at the end of June.

MindTree to introduce 3G smartphone in FY11

MindTree Ltd, a mid-level IT services provider in India, stated that a 3G smartphone supported by Android platform of Google Inc is being planned for build up by the firm to be introduced in the market come this financial year’s second half, according to its MD and CEO Krishnakumar Natarajan.

LIC Housing plans to increase loan by 40% this financial year

LIC Housing Finance, a credit loaning firm, has been aiming to have a loan amounting to 200 billion rupees in complying its 40% payout goal this financial year, according to R.R. Nair, the company’s Chief Executive. It already paid out mortgages with a value of Rs 14,853 crore.

NAVs witness deep slump due to lackluster global trades

While the benchmark Nifty as well as BSE Sensex concluded the session on a sour note, equity diversified NAVs wrapped up the day on a deep decline losing tremendously in advance:decline ratio of 4:252. Each and every sector witnessed drop in trading exchanges.

Jaypee Infratech, SJVN launches their IPOs this day

Satluj Jal Vidyut Nigam, a hydropower producing firm, already launched its IPO this day together with Jaypee Infratech, Jaiprakash Associates’ unit. The 41.5 crore equity shares SJVN IPO with value range of Rs 23-26 every share will end on May 3 while the Rs 102-117 per share Jaypee Infratech IPO will end on May 4.

PTC India’s net sales in Q4 FY10 soars to Rs 1,243 crore

In a statement released by TN Thakur, the Chairman and Managing Director of PTC India, the firm already informed the public about the fourth quarter outputs in the financial year 2009 to 2010 wherein Rs 1,243 crore increase in net sales was achieved but a drop of Rs 13.9 crore net profit was absorbed.

Dabur predicts FY11 selling increase of 15-20%

Dabur India Ltd, a personal care and food products manufacturing firm, has recorded a 10% increase in the January to March quarter in financial year 2009 to 2010. The firm has been targeting selling increase around 15-20% in the present financial year, according to Sunil Duggal, its Chief Executive.

ACC to fully control Shiva Cement

According to RP Gupta, the Chairman and Managing Director of Shiva Cement of Rourkela, there is a strong possibility that the firm will soon be fully controlled by ACC. At present, nearly 14.5% stake in Shiva Cement is being managed by ACC.

3% bid-increase against Rs 36,025 crore base achieved on 16th day of 3G auction

According to the Department of Telecommunications, 94 rounds of bid for countrywide cover in 3G or third-generation spectrum public sale of India were completed until Wednesday. The said auction already attained Rs 36,025 crore or 3% bid-increase from Rs 1,000 crore base on its sixteenth day.

Marico attains net profit increase of Rs 51.15 crore in Q4 FY10

Marico Ltd, a personal care merchandise manufacturing firm, already announced its January to March quarter outputs in FY10 wherein the firm’s net profit soared to 51.15 crore which was a 15% increase as compared to the previous Rs 44.41 crore. It also achieved a slightly high Rs 602 crore net sales.

Exide Industries anticipates Rs 350 crore FY11 principal expenses

According to a press release by Exide Industries Ltd this Wednesday, the firm’s principal expenses for the financial year 2010 to 2011 was being anticipated to come at minimum value of Rs 350 crore. Moreover, it plans to construct the latest Ahmednagar refinery in Maharashtra.

Themis Medicare’s income in Q4 FY10 slightly increases to Rs 49.15 crore

In a statement released by Dinesh Patel, the Chief Executive Officer and Managing Director of Themis Medicare, the firm already informed the public about the fourth quarter outputs in the financial year 2009-2010 wherein income increased very slightly to Rs 49.15 crore achieving a Rs 75 lakh PAT.

Banswara Syntax aims for Rs 40 crore operation-widening

According to RS Toshniwal, the Chairman and Managing Director of Banswara Syntex, the firm’s top level management already allowed the recommendation to broaden up the operations in weaving, processing and clothing production as well as the upgrading of its spinning unit having an approximate capex value of Rs 40 crore.

IDFC’s consolidated net profit rises 97% in Q4 FY10

In a statement released by Rajiv Lall, the Chief Executive Officer and Managing Director of IDFC, the firm already informed the public about the fourth quarter outputs in the financial year 2009-2010 wherein its consolidated net profit rose 97% to Rs 228 crore as compared to previous Rs 116 crore.

NMDC to commence building of steel refinery this October

NMDC Ltd, the leading iron ore mining company in India, plans to commence the building of its 3-million tonne steel refinery to be situated in Chhattisgarh six months from now with a total investment of nearly Rs 15,000 crore or USD 3.3 billion.

Religare Enterprises Q4 FY10 PAT stands at Rs 31.7 crore

According to Shachindra Nath, the Group Chief Executive Officer of Religare Enterprises, the firm already announced it fourth quarter outputs in financial year 2009-2010 wherein its income soared 28% to Rs 528 crore while its profit after tax stood at Rs 31.7 crore as compared to deficit value of Rs 65.3 crore.

Peninsula Land attains net profit increase of Rs 96.3 crore in Q4 FY10

According to Rajeev Piramal, the Executive Vice Chairman of Peninsula Land, the firm already announced its fourth quarter outputs in the financial year 2009-2010 wherein an increase of Rs 96.3 crore net profit was achieved as well as net sales rise of Rs 224.7 crore.

JSW Energy, PTC India, Bharti Airtel, MindTree, Balaji Telefilms declared results today

Paper Products
Net profit was down at Rs 12.15 crore versus Rs 16.31 crore
Net sales were up at Rs 159.08 crore versus Rs 143.17 crore

JSW Energy
Net profit was up at Rs 273 crore versus Rs 23.8 crore
Net sales were up at Rs 784 crore versus Rs 474 crore

PTC India
Net profit was down at Rs 13.9 crore versus Rs 15.5 crore
Net sales were up at Rs 1,243 crore versus Rs 1,178 crore

Bharti Airtel
Net profit was down at Rs 2,055.1 crore versus Rs 2,209.8 crore
Net sales were up at Rs 10,055.7 crore versus Rs 9,772.2 crore

MindTree
Net profit was up at Rs Rs 54.5 crore versus Rs 53.8 crore
Net sales were up at Rs 344.4 crore versus Rs 331.9 crore

Balaji Telefilms
Net profit was at Rs 3.4 crore
Net sales were down at Rs 33.5 crore versus at Rs 49.4 crore

Shoppers Stop
Net profit was at Rs 12.6 crore
Net sales were at Rs 381 crore

Eicher Motors
Net profit was up at Rs 40.2 crore versus Rs 15.8 crore
Net sales were up at Rs 1,038 crore versus Rs 592 crore

Essel Propack
Net profit was at Rs 8.7 crore
Net sales were up at Rs 301 crore versus Rs 323 crore

Alstom Projects
Net profit was up at Rs 47.6 crore versus Rs 34 crore
Net sales were up at Rs 612.4 crore versus Rs 451.4 crore

Alfa Laval (India)
Net profit was up at Rs 24.85 crore versus Rs 24.11 crore
Net sales were down at Rs 189.62 crore versus Rs 199.03 crore

Dabur India
Net profit was up at Rs 135 crore versus Rs 104 crore
Net sales were up at Rs 849 crore versus Rs 732 crore

Zydus Wellness
Net profit was up at Rs 45.3 crore versus Rs 23.8 crore

JSL
Net profit was up at Rs 140 crore versus Rs 80.11

Dena Bank
Net profit was at Rs 117.7 crore
Net sales were up at Rs 1,685.3 crore versus Rs 1,346 crore

Kesoram Industries
Net profit was down at Rs 26 crore versus Rs 159 crore
Net sales were up at Rs 1,347 crore versus Rs 1,176 crore

Jayshree Tea and Industries
Net sales were at Rs 88.4 crore

Balrampur Chini Mills
Net profit was down at Rs 27.5 crore versus Rs 66.2 crore
Net sales were up at Rs 469 crore versus Rs 355 crore

Marico
Net profit was up at Rs 51.1 crore versus Rs 44.1 crore
Net sales were up at Rs 602 crore versus Rs 566 crore

LIC Housing Finance
Net profit was up at Rs 213 crore versus Rs 157 crore

BSE Sensex plunged 1.76%; market on deep downturn

The BSE 30-share Sensex fell 310.54 points or 1.76% to 17380.08. The Sensex fell 47.03 points at the day's high of 17,643.59 in early trade. The index declined 346.04 points at the day's low of 17,344.58 in late trade.

The S&P CNX Nifty declined 92.90 points or 1.75% at 5,215.45.

The BSE Mid-Cap index fell 1.6% and outperformed the Sensex. The BSE Small-Cap index fell 2.05% and underperformed the Sensex.

All the sectoral indices on BSE were in red. BSE Realty index (down 3.57%), Oil & Gas index (down 2.76%), Metal index (down 2.26%), Consumer Durables index (down 2.01%), underperformed the Sensex.

BSE FMCG index (down 0.17%), Healthcare index (down 0.18%), PSU index (down 0.94%), Auto index (down 1.02%), Bankex (down 1.11%), Power index (down 1.14%), Capital Goods index (down 1.45%), IT index (down 1.55%), Teck Index (down 1.53%), outperformed the Sensex.

BSE clocked turnover of Rs 4767 crore, higher than Rs 4512.53 crore on Tuesday, 27 April 2010.

Market Breadth:
Positive 717 Negative 2189 Unchanged 77
From the 30 share Sensex pack, 25 fell and rest rose.

Tara Health Foods IPO Review

Tara Health Foods Ltd. (THFL) was incorporated as Angora Wool Combers Pvt. Ltd. in 1977. The company was converted into a public Ltd. company in 2005 and the name was changed to Tara Feed Ltd. In 2008, the name of the company was first changed to Tara Olive India Ltd. and then to the present. THFL is engaged in the business of manufacture of cattle/poultry feed, refining and blending of edible oil, and solvent extraction.

At present the company has a 120 tonnes per day (TPD) of Edible Oil Refining capacity; 250 TPD of solvent extraction and 250 TPD of cattle/poultry feed manufacturing at village Jitwal Kalan, Malerkotla, Punjab and 250 TPD of cattle/poultry feed manufacturing at Sitarganj, Uttaranchal. Cattle feed contributes about 60% of total revenue , and refined edible oils the rest 40%.

Post-IPO, Promoters' holding will be reduced from 100% to 66.32%

Issue Objectives  

• Setting up a new edible oil refining plant at Punjab facility
• Expansion of existing cattle feed plant at Punjab facility
• Augmenting long term working capital requirement 

Tara Health Foods Limited IPO Grading / Rating Fitch Rating has assigned an IPO Grade 2 indicating below average fundamentals.

Issue Open: Apr 28, 2010 - Apr 30, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 10,000,000 Equity Shares
Issue Size: Rs. 180 to 190 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 180 - Rs. 190 Per Equity Share
Market Lot: 30 Shares
Minimum Order Quantity: 30 Shares
Listing At: BSE, NSE

Tara Health Foods IPO Review
Tara Health Foods Draft Prospectus
Tara Health Foods Allotment Status
Tara Health Foods Basis of Allotment

Piramal Health in talks with Sanofi Aventis and Glaxo Smithkline

Following key investments made by Piramal Healthcare by purchasing Cipla-based I-Pill, an urgent contraceptive medicine, and Bharat Serums’ anesthetic merchandise businesses, the firm will most probably put on sale its local formulation operation to Sanofi Aventis and Glaxo Smithkline.

Life Insurance to seal BPO, IT services contract with Mahindra Satyam

In a statement released by Life Insurance Corporation or LIC, at present, the firm confirmed that it has been under negotiations with Mahindra Satyam for sealing BPO and IT services agreement with an amount of USD 300 to 500 million after LIC acquired stake in Tech Mahindra.

Tara Health Foods IPO launched at Rs 180 - 190

Tara Health Foods, an edible oil and livestock & chicken feed manufacturing firm, already introduced its IPO or initial public offering this day and concludes at the end of April wherein the price range stands at Rs 180-190 every share. The firm got assurance finance from anchor investors which is worth Rs 27 crore.

Motilal Oswal Financial achieves 39-40% broking income increase

According to Raamdeo Agrawal of Motilal Oswal Securities, the fourth quarter outputs in FY10 of Motilal Oswal Financial was already released wherein the firm obtained Rs 154 crore consolidated net sales and Rs 51.9 crore consolidated net profit. Moreover, 39-40% broking income increase was achieved.

NAVs concluded on a downbeat mode

While the benchmark Nifty concluded the session slightly below on profit booking after being upbeat for five consecutive days, equity diversified NAVs wrapped up the day on a gloomy note absorbing an advance:decline ratio of 39:188. FMCG and pharma funds witnessed share buying interest.

Salary modification deal sealed by bank unions, IBA

The anticipated salary modification agreement has been finally sealed by the bank unions and the Indian Bank Association or IBA wherein 46 banks will have Rs 5,200 crore per year salary augmentation while it will be an extra Rs 4,816 crore every year for PSU banks.

Zain expects 50% income growth in 2013 from African businesses

Zain, the cellular services provider in Kuwait, already has foresight of its 50% income growth from its African businesses in Madagascar, Uganda, Kenya and Tanzania which will cross around USD 4.5 billion three years from now, according to the Commercial Director for Zain Kenya, Raed Haddadin.

Aventis Pharma absorbs net profit drop in Jan-March quarter

Aventis Pharma Ltd, a medicine manufacturing firm in Bangalore, already announced its outputs in quarter that ended last March wherein it absorbed a decline in net profit of Rs 36.1 crore but achieved increase in net sales of Rs 251.4 crore. However, the firm was short from the net profit prediction by brokering firms.

Rs 4000 crore power broadening venture aimed by JSW Energy

According to Pramod Menon, the Chief Financial Officer of JSW Energy, has been planning to make Rs 4000 crore investment in order to fund energy production broadening in financial year 2010-2011 wherein Rs 3000 crore should come from borrowing fund. The firm already got financial partnership for 3,200 MW of power.

Nuclear Power Corp, NTPC agree on nuclear energy merger firm

NTPC Ltd, an energy subsidiary, announced this Tuesday that it already sealed a deal with Nuclear Power Corporation of India Ltd in order to create a merger firm for purpose of constructing nuclear energy ventures in India. Nuclear Power Corporation will be managing 51% stake in the merger firm.

Petronet LNG’s net profit declines to Rs 97.29 crore in Q4 FY10

In a statement released by Petronet LNG Ltd this Tuesday, the firm has achieved a 52% drop or Rs 97.29 crore net profit in the fourth quarter of financial year 2009-2010 as compared to Rs 204 crore. It is way too short from the prediction of Rs 111 by the brokering firms.

Essar Oil obtains USD 239.30 million fund for its subsidiary

Essar Oil already accumulated USD 239.30 million by means of GDS or global depositary shares issue to Essar Energy with a fixed value of Rs 144 every share. Moreover, being essential for 6,06,827 GDS, 92.8 million worth of shares is being planned to be issued by the conglomerate at Rs 144 per share rate.

Patni to provide BPO and IT services to Universal American

A top worldwide BPO and IT services company, Patni Computer Systems, already informed the public about the deal with a value of multi-million dollar to be consummated until 2015 in order to supply continuous regulation management services for Universal American Corporation, a US senior healthcare major.

USD 270 million FPO of Engineers India to open this June

The government-controlled firm, Engineers India Ltd, most probably will be introducing its utmost Rs 1,200 crore or USD 270 million FPO or follow-on public offer two months from now, according to Sidhartha Pradhan, the Divestment Ministry Joint Secretary overseeing the selling of stakes.

JSPL and Rocklands agree on coal waste venture

In a statement released by the Director of Jindal Steel & Power, Sushil K Maroo, the firm already sealed a deal for three ventures, worth nearly USD 2-3 million in year one, with Rocklands Richfield Ltd, an Australian conglomerate, in order to utilize the coal waste through Rocklands’ facilities in China.

ARSS Infrastructure revenues stand at Rs 401 in Q4 FY10

According to the President and Chief Executive Officer of ARSS Infrastructure Projects, Sunil Agarwal, the company already announced its fourth quarter outputs in financial year 2009-2010 wherein revenues worth Rs 401 came in. The EBITDA margin was preserved about 18-19% in a span of 10 years.

Peninsula Land, Aventis Pharma, Greaves Cotton, Bharat Electronics declared results today

Raymond
Net profit was at Rs 6.7 crore
Net sales were down at Rs 329.3 crore versus Rs 355.4 crore

Motilal Oswal Financial Services
Net profit was at Rs 51.9 crore
Net sales were at Rs 154 crore

Petronet LNG Ltd
Net profit was down at Rs 97.3 crore versus Rs 204 crore
Net sales were down at Rs 2,380 crore versus Rs 2,655 crore

Ispat Industries
Net profit was at Rs 22.4 crore
Net sales were up at Rs 2,349 crore versus Rs 1,043 crore

GlaxoSmithKline Pharmaceuticals
Net profit was up at Rs 161 crore versus Rs 143 crore
Net sales were up at Rs 541 crore versus Rs 457 crore

Peninsula Land
Net profit was up at Rs 96.3 crore as against Rs 36 crore
Net sales were up at Rs 224.7 crore from Rs 195.1 crore

Sobha Developers
Net profit was up at Rs 136.7 crore versus Rs 109.7 crore
Net sales were up at Rs 1,107.2 crore versus Rs 967.9 crore

Welspun Gujarat Stahl Roh
Net profit was up at Rs 610.41 crore versus Rs 213.50 crore
Net sales were up at Rs 7,350.27 crore versus Rs 5,739.53 crore

Aventis Pharma
Net profit was down at Rs 36.10 crore versus Rs 40.50 crore
Net sales were up at Rs 251.40 crore versus Rs 228.90 crore

Shree Renuka Sugars
Net profit was up at Rs 224 crore versus Rs 33.2 crore
Net sales were up at Rs 1781.4 crore versus Rs 429 crore

Taj GVK Hotels & Resorts
Net profit was up at Rs 12 crore as against Rs 8 crore
Net sales were at Rs 62.9 crore

Greaves Cotton
Net profit was up at Rs 33.6 crore versus Rs 14.4 crore
Net sales were up at Rs 358 crore versus Rs 240 crore

Transformers and Rectifiers India
Net profit was up at Rs 20 crore versus Rs 13 crore
Net sales were up at Rs 216 crore versus Rs 134 crore

Yes Bank
Net profit was up at Rs 140 crore versus Rs 80.11

Dena Bank
Net profit was up at Rs 137.07 crore versus Rs 111.2 crore

Bharat Electronics
Net profit was down at Rs 216 crore versus Rs 559.4 crore
Net sales were down at Rs 1,834 crore versus Rs 2,753 crore

Deep Industries
Net profit was up at Rs 4.05 crore versus Rs 1.22 crore

Gillette India
Net profit was up at Rs 42.7 crore versus Rs 28.5 crore
Net sales were up at Rs 221.8 crore versus Rs 171.8 crore

Infrastructure Development Finance Company
Net profit was up at Rs 228 crore versus Rs 116 crore

Power Finance Corporation
Net profit was down at Rs 599 crore versus Rs 1,005 crore
Net sales were up at Rs 2,080 crore versus Rs 1,817 crore

BSE Sensex drops 0.31% as market gets downbeat again

The BSE 30-share Sensex today lost 54.66 points or 0.31% to settle at 17,690.62. The Sensex rose 23.97 points at the day's high of 17,769.25 in mid-morning trade. The index fell 66.72 points at the day's low of 17,678.56 in late trade.

The S&P CNX Nifty declined 14.10 points or 0.26% at 5,308.35.

The BSE Mid-Cap index fell 0.31% and matched the Sensex's fall. The BSE Small-Cap index fell 0.06% and outperformed the Sensex.

Sectoral indices were mixed. BSE FMCG index (up 0.57%), Healthcare index (up 0.3%), Power index (up 0.26%), Oil & Gas index (up 0.1%), PSU index (up 0.1%), IT index (up 0.06%), Teck Index (up 0.03%), Capital Goods index (down 0.23%) outperformed the Sensex.

BSE Realty index (down 1.44%), Bankex (down 0.85%), Auto index (down 0.81%), Metal index (don 0.68%), Consumer Durables index (down 0.51%), underperformed the Sensex.

BSE clocked turnover of Rs 4477 crore, higher than Rs 3961.18 crore on Monday, 26 April 2010.

Market Breadth:
Positive 1289 Negative 1616 Unchanged 87
From the 30 share Sensex pack, 20 fell and rest rose.

Nagarjuna Agrichem aims to invest Rs 350 crore until 2013

According to Ashok Muni, the Director and Chief Operational Officer of Nagarjuna Agrichem, the firm already released its outputs in the fourth quarter of financial year 2009-2010 wherein it obtained Rs 140 crore revenues as they aim to invest Rs 350 until 2013.

Power Finance Corp reveals Q4 FY11 outputs; net sales increase

In a statement released by Satnam Singh, the Chairman & Managing Director of Power Finance Corporation or PFC, the firm already released its outputs in the fourth quarter of financial year 2009-2010 wherein it only achieved Rs 599 net profit but gained Rs 2,080 crore net sales.

MBL Infrastructure predicts more than Rs 1,000 crore FY11 growth

According to AK Lakhotia, MBL Infrastructure Ltd’s Chief Executive Officer, the firm is currently undertaking 20 ventures across the nation with a total value of nearly Rs 237 crore as they anticipate about 2,000 crore order book at the end of June. In FY11, they predict a growth of more than Rs 1,000 crore.

Telecom Corp to merge with Wipro and Tech Mahindra

According to the New Zealand based Telecom Corporation top official, the firm has been under negotiations for merger with Wipro and Tech Mahindra, the software conglomerates in India, about a possible USD 1 billion outsourcing deal in order to contend with IBM and Hewlett-Packard.

Geometric aims for 15-20% income rise this financial year

According to Ravishankar G, the Managing Director and Chief Executive Officer of Geometric, the firm already released its outputs in the fourth quarter of financial year 2009-2010 wherein it only achieved Rs 11.8 consolidated net profit and Rs 127 crore consolidated net sales. Moreover, they aim for 15-20% income increase in FY11.

Rs 3,500 crore IDFC fund to be accrued in 1 year

In a notification made by Infrastructure Development Finance Company Ltd or IDFC to the BSE, the firm’s top level management already permitted its 1-year scheme to accumulate Tier 1 as well as Tier 2 capital utmost Rs 3,500 crore as a reserved fund to be used in upcoming company ventures.

Rs 405 crore IPO of Nitesh Estate to end this day

Nitesh Estates already launched its initial public offering or IPO for subscription having a price range of Rs 54 to 56 every share. The firm’s IPO worth Rs 405 crore, which contains 10,848,200 equity shares of Anchor investor portion, is scheduled to conclude this day, April 27.

NAVs remain upbeat as auto, technology advance

As the benchmark Nifty concluded the session on a soaring level in five straight days in the midst of minor increases, equity diversified NAVs wrapped up the day optimistically with an advance:decline ratio of 242:11. Significant attention from share purchasers was achieved by companies in cement select auto, metal, private financial and technology.

Rs 180-190 per share IPO to be launched by Tara Health Foods

Tara Health Foods, an edible oil as well as livestock and chicken feed manufacturing firm, has been planning to launch a 1 crore equity shares IPO on April 28, 2010 with a price range set at Rs 180-190 every share. This issue will be concluding at the end of the month.

IPO of Mandhana Industries launched this day

Mandhana Industries, a leading clothes-maker, already launched its 83 lakh shares IPO or initial public offering this day with a value of Rs 120-130 every share. The subscription will end on April 29. Furthermore, the firm attained Rs 36.55 crore net profit and Rs 463.25 crore revenues in quarter four of FY10.

Insecticides India predicts 50% income increase in 2010

According to Rajesh Agarwal, the Chairman and Managing Director of Insecticides India, the firm is still optimistic this year, in spite of the 40-year record breaking drought in 2009, predicting to attain 50% income increase with the hope of two subsidiaries to come by July and be of help in achieving its growth goal.

Nucleus Software net profit and net sales plummet in Q4 FY10

Nucleus Software Exports Ltd already informed the public about its fourth quarter outputs in financial year 2009-2010 wherein the net sales dropped 15.8% to Rs 72.2 crore and the consolidated net profit decreased 4.3% to Rs 9.18 crore as it plans to gain income from Latin America, Europe and United States in FY11.

Maruti Suzuki obtains Rs 8,503 crore net sales in Q4 FY10

In a statement released by Ajay Seth, the Chief Finance Officer of Maruti Suzuki India, the firm already announced its outputs in the fourth quarter of financial year 2009-2010 wherein net sales climbed from Rs 6,432 crore to Rs 8,503 crore and net profit rose from Rs 243.13 crore to Rs 656.55 crore.

M&M may acquire SUV leader Ssangyong of Korea

Ssangyong Motor, an SUV leader and the fourth biggest car manufacturer in South Korea with a present worth of USD 400 million, will most probably be acquired by M&M or Mahindra and Mahindra in order to obtain its goal of being the worldwide leader in SUV manufacturing.

Tata Sons eyes education venture in tier-I cities

Tata Group’s marketing arm for its major firms, Tata Sons, has already planned to venture into the education sector wherein Rs 1,000 crore primary investment is needed. In the initial stage, it will probably welcome the participation of other firms in the group in establishing the kindergarten to grade 12 schools in tier-I cities.

Pierre Fabre, Piramal Healthcare predict 5 million euro sales

According to Piramal Healthcare Ltd, a medicine manufacturing firm, and France-based Pierre Fabre Group, both companies will attain 5 million euros in two years time by means of selling skin care merchandise. Moreover, they already introduced the latest collection of skin care merchandise for India.

Rajesh Exports Ltd aims to launch in India 300 retail centers

A leading jewellery manufacturer and exporter in India, Rajesh Exports Ltd, has been aiming to launch in India 300 retail centers within three years span, according to Rajesh Mehta, the firm’s Chairman and Managing Director. Furthermore, it already set Rs 3000-4000 crore capex.

Geometric, Andhra Sugars, Areva T&D, 3i Infotech, GMR Industries declared results today

Infrastructure Development Finance Company
Net profit was up at Rs 234.93 crore versus Rs 121.55 crore
Net sales were up at Rs 240 crore versus Rs 158 crore

Geometric
Net profit was down at Rs 11.8 crore versus Rs 17 crore
Net sales were down at Rs 127 crore versus Rs 142 crore

Andhra Sugars
Net profit was up at Rs 12.6 crore versus Rs 9.04 crore
Net sales were down at Rs 126.6 crore versus Rs 134.8 crore

Sterlite Industries (India)
Net profit was up at Rs 1,381 crore versus Rs 598.3 crore
Net sales were up at Rs 7,110 crore versus Rs 4,336.1 crore

MMTC Ltd
Net profit was up at Rs 98.9 crore versus Rs 39.97 crore
Net sales were up at Rs 17,271 crore versus Rs 4,874 crore

GMR Industries
Net sales were down at Rs 101.6 crore versus Rs 125.9 crore

Persistent Systems
Net profit was up at Rs 39.67 crore versus Rs 14.07 crore
Net sales were up at Rs 171.7 crore versus Rs 149.1 crore

3i Infotech
Net profit was up at Rs 95.24 crore versus Rs 50.53 crore
Net sales were up at Rs 628.29 crore versus Rs 596.21 crore

Areva T&D
Net profit was down at Rs 3.5 crore versus Rs 51.4 crore
Net sales were down at Rs 776 crore versus Rs 845 crore

Kirloskar Brothers
Net profit was up at Rs 58.4 crore versus Rs 47.3 crore
Net sales were down at Rs 631 crore versus Rs 646 crore

Indiabulls Financial Services
Net sales were down at Rs 1,443 crore crore

Godrej Consumer Products
Net profit was up at Rs 91.7 crore versus Rs 59.4 crore
Net sales were up at Rs 509.2 crore versus Rs 343.9 crore

Bihar Tubes
Net profit was up at Rs 10.5 crore versus of Rs 6 crore
Net sales were up at Rs 195 crore versus Rs 104.5 crore

ILandFS Investment Managers
Net profit was up at Rs 23.4 crore
Net sales were up at Rs 51.2 crore

Bosch
Net profit was up at Rs 202.6 crore versus Rs 158.2 crore
Net sales were up at Rs 1,580.4 crore versus Rs 1,318.6 crore

Maruti Suzuki India
Net profit was up at Rs 656.55 crore versus Rs 243.13 crore
Net sales were up at Rs 8,503.52 crore versus Rs 6,538.34 crore

Merck
Net profit was up at Rs 15.35 crore versus Rs 8.6 crore
Net sales were up at Rs 104 crore versus Rs 98.8 crore

Binani Cement
Net profit was down at Rs 16.9 crore versus Rs 20.07 crore
Net sales were down at Rs 481.8 crore versus Rs 497.4 crore

Pantaloon Retail
Net profit was up at Rs 55.9 crore versus Rs 34.4 crore
Net sales were up at Rs 2,057.6 crore versus Rs 1,642.1 crore

Mandhana Industries IPO Review

Mandhana Industries Ltd (MIL) was incorporated as Mandhana Textile Mills Pvt. Ltd in 1984. In May 2007, the company was converted into a public limited company and its name was changed to its present name Mandhana Industries Ltd. MIL is vertically integrated textile and garment manufacturing company in India having presence across operations ranging from yarn dyeing to garment manufacturing. MIL business includes designing, yarn dyeing, weaving, processing, dyeing and garment manufacturing. The company has current capacity of 3 million kg of yarn dyeing capacity, 1.8 million meters of fabric weaving capacity and 51.6 million meters of fabric processing capacity at Tarapur in Maharashtra. In addition to the above, the company has forward integrated into garmenting with two units in Bangalore and a smaller unit in Mumbai having an aggregate capacity of 3.6 million pieces per annum. 

MIL overseas customers include brands like Tommy Hilfiger, Charles Vogele, FCUK, RIP CURL, All Saints, Simint, Colin’s, Pepe Jeans and LAFUMA whereas In the domestic market customers include Aditya Birla Nuvo (manufacturers of brands like Louis Phillipe, Van Heusen, Peter England, Allen Solly),Pantaloon Retail, ITC (manufacturer of brand Wills LifeStyle), Turtle.

Post-IPO, Promoters' holding will be reduced to 62.21% from 83.02%

Issue Objectives  

• Setting up of new garment manufacturing facility at MIDC, Tarapur Maharashtra
• Expansion of yarn dyeing and weaving facility at MIDC, Tarapur, in the State of Maharashtra
• Margin Money for working Capital 

Mandhana Industries Limited IPO Grading / Rating CRISIL has assigned an IPO Grade 3 indicating average fundamentals.

Issue Open: Apr 27, 2010 - Apr 29, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 8,300,000 Equity Shares
Issue Size: Rs. 99.60 to 107.90 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 120 - Rs. 130 Per Equity Share
Market Lot: 50 Shares
Minimum Order Quantity: 50 Shares
Listing At: BSE, NSE

Mandhana Industries IPO Review
Mandhana Industries Draft Prospectus
Mandhana Industries Allotment Status
Mandhana Industries Basis of Allotment

BSE Sensex soars 0.29% as most sectors advance

The BSE 30-share Sensex rose 51.08 points or 0.29% to 17,745.28. The Sensex rose 132.28 points at the day's high of 17,826.48 in early trade. The index fell 1.94 points at the day's low of 17,692.26 in early trade.

The S&P CNX Nifty rose 18.35 points or 0.35% to 5322.45.

The BSE Mid-Cap index rose 0.59% and the BSE Small-Cap index rose 0.49%. Both the indices outperformed the Sensex.

Most of the sectoral indices on BSE rose. BSE Metal index (up 2.34%), PSU index (up 0.6%),
BSE Bankex (up 0.56%), IT index (up 0.47%), Consumer Durables index (up 0.36%), Teck Index ( up 0.31%), outperformed the Sensex. Capital Goods index rose 0.29% and matched the Sensex's gains.

BSE Realty index (down 1.63%), Oil & Gas index (down 0.95%), Healthcare index (down 0.49%), Auto index (down 0.21%), FMCG index (up 0.04%), Power index (up 0.2%), underperformed the Sensex.

BSE clocked turnover of Rs 3938 crore, lower than Rs 4694.92 crore on Friday, 23 April 2010.

Market Breadth:
Positive 1562 Negative 1330 Unchanged 87
From the 30 share Sensex pack, 18 rose and rest fell.

USD 90 million order for longwall systems set by Gujarat NRE

According to Gujarat NRE Coke, its subsidiary has positioned an order with a value of USD 90 million with Joy Manufacturing Co Pty to provide particular state-of-the-arc facility, the longwall systems, intended to accumulate operational efficiency in one of the firm’s Australia-based mines.

Bihar Tubes obtains Rs 104.5 crore revenues in Q4 FY10

In a statement released by the Director of Bihar Tubes, Aniq Husain, the firm already announced its outputs in the fourth quarter of financial year 2009-2010 wherein Rs 195 crore value was achieved for its entire revenues from Rs 104.5 crore while the consolidated net profit soared to Rs 10.5 crore.

Singaporean firm aimed by JVL Agro for acquisition of most stakes

According to the Full Director of JVL Agro Industries Limited, Adarsh Jhunjhunwala, the firm is conducting negotiations to acquire most of the stake in a Singapore-based conglomerate, which possesses 20,000 acre land. However, the agreement will most probably be consummated within 60 to 90 days.

HSBC cautioned by SEBI due to breach in MF policies

HSBC, a mutual fund major, has been cautioned by SEBI or Securities and Exchange Board of India because of breaching Mutual Fund policies. According to SEBI, no notification was given to the investors about the immediate modifications in the plan wherein AMC altered HSBC Gilt Fund’s index and name two years ago.

Adani Enterprises to fully control Mundra Port

Adani Enterprises already permitted an agreement plan for incorporating with it Mundra Port & SEZ’s seven promoter group units. Thus, Adani Enterprise will fully control Mundra Port at present as well as the ports, power and coal trading operations, according to Chief Finance Officer of Adani Enterprises, Devang Desai.

Spice Mobiles to focus on mobile internet business

According to BK Modi, the Chairman of Spice Mobiles, the conglomerate will be focusing its services to mobile internet thus, aiming to integrate their businesses such as VAS, retail and mobile. As a result of this, it is necessary for the board members to step down and eventually form a new set of administrators.

Allcargo accrued resources via QIP for capex and units purchasing

Allcargo Global Logistics lately accumulated nearly USD 23 million by means of qualified institutional placements or QIP course with a value of roughly Rs 186, according to the firm’s Chairman and Managing Director Shashi Kiran Shetty. The accrued resources are to be utilized for capex as well as future purchase of subsidiaries.

FM to request bids for selecting managers for Coal India IPO

The Finance Ministry Coal has already announced its intention of requesting bids for the selection of lead managers for the Navratna firm Coal India Ltd or CIL’s recommended IPO or initial public offering which must be presented in May 3. The government will assist CIL’s listing.

3i Infotech income climbed 5.4% in Q4 FY10

In a statement released by 3i Infotech, the firm already announced its fourth quarter outputs in financial year 2009-2010 wherein the income climbed 5.4% to Rs 628.29 crore as compared to its previous Rs 596.21 crore quarterly increase and the net profit also soared from Rs 50.53 crore to Rs 95.24 crore.

Free Tip:

Buy 3i Infotech around 75 target 80/84 in one to two months timeframe

126% bid-increase against Rs 35 billion base achieved on 13th day of 3G auction

According to the Department of Telecommunications, 76 rounds of bid for countrywide cover in 3G or third-generation spectrum public sale of India were completed until Saturday. The said auction already attained Rs 79 billion (USD 1.78 billion) or 126% bid-increase from Rs 35 billion base on its thirteenth day.

EID Parry open offer at Rs 110.69 for GMR Ind

EID Parry, a sugar manufacturing firm in India, already purchased most of the stake in GMR Industries wherein Rs 110.69 every share public offer was launched by the company after the acquisition. According to K Balasubramanian, a board member at GMR, the firm will still be operating 24% stake in EID.

85 lakh shares IPO launched today by Tarapur Transformers

The subsidiary of Bilpower, an energy engineering services firm, which is Tarapur Transformers already introduced its IPO or initial public offering with a value of 85 lakh shares this day and ends on April 28. The price range for this issue stands around Rs 65 to Rs 75 every share.

Tarapur Transformers IPO Analysis

Tarapur Transformers Limited (TTL) was incorporated on May 1988 as a Private Limited Company and was subsequently changed to public company on March, 2007. TTL is engaged in the repairs, upgradation and manufacturing of power and distribution transformers. It is a 73.5% subsidiary of Bilpower Ltd, which manufactures laminations and motor stampings. Tarapur Transformers Ltd has been the registered vendor to various state electricity boards (SEB) across the country and is also registered with many private companies for supply and repair of power transformers.

TTL manufactures Transformers up to 220 Kilo Volt (KV) class, having an installed capacity of manufacturing of 1,839.40 Mega Volt Ampere (MVA) & repairing of 1,800 MVA per annum.Currently company operates through three manufacturing units located at Boisar, Pali and Vadodara.

 

Post issue Promoters & Promoter’s group shareholding will reduce to 56.41% from existing 100%.

Issue Objectives  

• Expansion and Modernization of Pali Unit
• To part-finance incremental working capital requirements, acquisition of business, marketing and corporate branding expenses and general corporate expenses

Tarapur Transformers Limited IPO Grading / Rating
CRISIL has assigned an IPO Grade 1 indicating poor fundamentals.

Issue Open: Apr 26, 2010 - Apr 28, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 8,500,000 Equity Shares Issue Size: Rs. 55.25 to 63.75 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 65 - Rs. 75 Per Equity Share
Market Lot: 90 Shares
Minimum Order Quantity: 90 Shares
Listing At: BSE, NSE

Tarapur Transformers IPO Analysis
Tarapur Transformers Draft Prospectus
Tarapur Transformers Allotment Status
Tarapur Transformers Basis of Allotment

Reliance Industries, Falcon Tyres, Wipro declared results today

Reliance Industries
Net profit was up at Rs 4,710 crore versus Rs 3,955 crore
Net sales were up at Rs 57,570 crore versus Rs 26,082 crore

Falcon Tyres
Net profit was up at Rs 10 crore versus Rs 5.4 crore
Net sales were up at Rs 188.3 crore versus Rs 161 crore

Wipro
Net profit was up at Rs 1,209 crore versus Rs 1,203.3 crore
Net sales were up at Rs 6,983 crore versus Rs 6,977.4 crore

Reliance Industries postpones VGO subsidiary closure

Reliance Industries already made postponement on its targeted one month span (in the range of 20 to 30 days) closure of a vacuum gas oil or VGO hydrotreater subsidiary at its aged plant from April 21 and recently to May, probably during the first 15 days.

NTPC plans USD 500m funding from international borrowings

NTPC Ltd, the leading energy unit in India, will probably accumulate USD 500 million fund by means of international business loans in the present financial year 2010-2011 in a condition of receiving good interest rates in the range of 5.5% to 6%, according to the firm’s finance head A.K. Singhal.

Piramal Glass gets Rs 3 crore consolidated net profit in Q4 FY10

According to the Managing Director of the glass packaging producer Piramal Glass, Vijay Shah, the firm already announced that it has recorded Rs 3 crore consolidated net profit in the fourth quarter of financial year 2009-2010 as compared to Rs 107 crore deficit in the annual duration.

Corporation Bank attains Rs 610 million MTM deficit last quarter

Corporation Bank, the government-controlled firm, already obtained a mark to market deficits amounting to Rs 610 million in the quarter that concluded last March 31, according to JM Garg, the company’s Chairman and Managing Director. However, it recorded a 20% increase last quarter with Rs 3.12 billion net profit.

SKF India to increase production this year through Rs 100 crore

SKF India Ltd, the global leader in bearings manufacturing as well as subsidiary of Sweden’s SKF, currently has expenditure of nearly Rs 100 crore this year to increase present production just to accommodate the soaring requirement, according to Shishir Joshipura, the conglomerate’s Managing Director.

Areva Renewable to establish solar-thermal facilities in India

France Areva’s subsidiary, Areva Renewable, has been planning to establish solar-thermal facilities in India in order to make waves in the market of India specializing in renewable power. The firm aims to finance USD 15-20 million every utilized transportable assembly components for this venture.

Century Textiles commences construction of Worli business centers

Century Textiles already commenced the construction of a commercial complex situated in Worli with target date of completion in March. Moreover, the firm seeks to put up hospitality center as well as a business center composed of 61 floors. The net sales of the conglomerate in the third quarter FY10 increased to Rs 1,068.1 crore.

Coal India IPO to receive 6 govt-chosen banks next month

According to the chairman of Coal India, the global leader in coal mining, the firm will be getting six government-chosen banks in April for its IPO before its listing date 3-4 months from now. The conglomerate is targeting USD 2.7 billion fund from its IPO’s 10% stake.

Videocon Industries may sell 26% stake in telecom unit

According to the Chairman and Managing Director of the electronic leader Videocon Industries, Venugopal Dhoot, the firm is considering a 26% stake sale in its fully-owned telecom unit, Videocon Communication Ltd, which was introduced last month with a value of Rs 12,000, in favor of international purchasers.

BSE Sensex moves 0.68% up amid market downturn

The BSE 30-share Sensex rose 120.21 points or 0.68% to 17,694.20. The Sensex rose 151.89 points at the day's high of 17,725.88 in mid-morning trade. The index fell 40.11 points at the day's low of 17,533.88 in early trade.

The S&P CNX Nifty rose 34.75 points or 0.66% to 5304.10.

The BSE Mid-Cap index rose 0.3% and the BSE Small-Cap index rose 0.51%. Both the indices underperformed the Sensex.

Most of the sectoral indices on BSE rose. BSE Bankex (up 1.66%), Capital Goods index (up 1.22%) outperformed the Sensex. BSE Oil & Gas index (up 0.66%), Realty index (up 0.57%), FMCG index (up 0.52%), PSU index (up 0.34%), Auto index (up 0.28%), Power index (up 0.08%), IT index (up 0.08%), Healthcare index (down 0.2%), Consumer Durables index (down 0.38%), Metal index (down 0.57%), underperformed the Sensex.

BSE clocked turnover of Rs 4669 crore, lower than Rs 5007.35 crore on Thursday, 22 April 2010.

Market Breadth:
Positive 1404 Negative 1514 Unchanged 88
From the 30 share Sensex pack, 15 rose and rest fell.

US Airways withdraws from JV negotiations with UAL

According to US Airways Group Inc, it already withdrew from the joint venture negotiations with United Airlines owner UAL Corporation. As a result of this, a shared business enterprise for Continental Airlines Inc and UAL will probably form the biggest airline around the globe.

Sterlite Technologies garners Rs 72.2 crore net profit Q4 FY10

According to Anand Agarwal, the Director and Chief Executive Officer of Sterlite Technologies, the firm already announced the financial year 2009-2010 fourth quarter outputs wherein a Rs 72.2 crore net profit was achieved against the previous Rs 43.8 crore. The EBITDA increase is expected to be around 25%-30%.

RBI allows IPO of Punjab & Sind Bank, FM next

Punjab and Sind Bank already gets the nod of the Reserve Bank of India or RBI for its IPO or initial public offering and most likely also be granted by the Finance Ministry within 15 day span. The targeted date of its IPO launching will be in June to July this year. The firm plans to accumulate Rs 500 crore through IPO.

Birla Sun Life Capital Protection Oriented NFO at Rs 10 per unit

Birla Sun Life Capital Protection Oriented Fund - Series 2 was already introduced by Birla Sun Life Mutual Fund to achieve capital protection in span of three years starting from schedule of allocating subsidiaries. This New Fund Offer or NFO worth Rs 10 every unit will commence in April 21 and end on May 21, 2010.

NAVs conclude progressively; technology, pharma gain

While the benchmark Nifty wrapped up the session having only 24 points increase sustained by SBI, Tata Motors, HDFC, ITC, HUL, SAIL and Reliance Industries, equity diversified NAVs ended progressively having an advance:decline ratio of 183:66. Interest in buying of shares was witnessed by pharma, technology, FMGC and banking companies.

Wipro obtains 0.5% quarterly profit in FY10

Wipro, the top three IT major in India, already released its fourth quarter in financial year 2009-2010 wherein a quarterly profit of 0.5% increase was achieved. The firm’s overall income was recorded at Rs 6,983 crore as compared to the previous Rs 6,977.4.