SJVN, Nagarjuna Agrichem, Tata Mwetakycs, India Infoline, Visa Steel declared results today

SJVN
Net profit was up at Rs 291 crore versus Rs 281 crore
Net sales were up at Rs 525 crore versus Rs 489 crore

Nagarjuna Agrichem
Net profit was down at Rs 5 crore versus Rs 11.5 crore

India Infoline
Net profit was down at Rs 43 crore versus Rs 52.2 crore

Steel Strips Wheels
Net profit was up at Rs 7.2 crore versus Rs 2.1 crore

Tata Metaliks
Net profit was down at Rs 10 crore versus Rs 15 crore

Visa Steel
Net profit was down at Rs 7.6 crore versus Rs 10 crore

Indian Hotels Company
Net profit was down at Rs 3 crore versus Rs 16 crore
Net sales were up at Rs 329 crore versus Rs 262 crore

Rei Agro
Net profit was up at Rs 61 crore versus Rs 41 crore
Net sales were up at Rs 950 crore versus Rs 858 crore

Western India Shipyard
Net profit was down at Rs 5.8 crore versus Rs 9.7 crore

Shipping Corporation of India
Net profit was up at Rs 191 crore versus Rs 120 crore
Net sales were up at Rs 907 crore from Rs 883 crore

ABB
Net profit was down at Rs 38 crore versus Rs 83.6 crore
Net sales were down at Rs 1,446 crore versus Rs 1,505 crore

Emami
Net profit was up at Rs 35 crore versus Rs 15.5 crore
Net sales were up at Rs 242 crore versus Rs 189 crore

Elecon Engineering Company
Net profit was up at Rs 13.3 crore versus Rs 8.5 crore
Net sales were up at Rs 246 crore versus Rs 212 crore

Mahindra and Mahindra
Net profit was up at Rs 562.39 crore versus Rs 400.85 crore
Net sales were up at Rs 5,160.10 crore versus Rs 4,242.59 crore

Mac Charles (India)
Net profit was up at Rs 2.17 crore versus Rs 1.20 crore
Net sales were up at Rs 12.06 crore versus Rs 9.45 crore

Mukand
Net profit was down at Rs 14.08 crore versus Rs 14.32 crore
Net sales were up at Rs 553.33 crore versus Rs 441.35 crore

Marico
Net profit was down at Rs 67.57 crore versus Rs 61.18 crore
Net sales were down at Rs 587.73 crore versus Rs 549.77 crore

Manali Petrochemicals
Net profit was up at Rs 67.57 crore versus Rs 61.18 crore
Net sales were down at Rs 106.95 crore versus Rs 88.50 crore

ISMT
Net profit was up 8.41 crore versus Rs 24.57 crore
Net sales were up at Rs 346.28 crore

JM Financial
Net profit was up at Rs 9.31 crore versus s 0.61 crore
Net sales were up at Rs 11.95 crore versus Rs 1.88 crore.

Steel Strips Wheels attained Rs 7.2 crore net profit in Q1 FY11

According to the Managing Director of Steel Strips Wheels Ltd, Dheeraj Garg, the firm already declared its outputs in the quarter one of the financial year 2010-2011 wherein its net profit soared to Rs 7.2 crore as against Rs 2.1 crore in the same period last year.

EIL Chairman's thoughts about the firm's FPO

The subscribtion in two days for follow-on public offer of EIL is 0.51 times. The price mentioned is Rs 270-290 every share which ends on 30th July. Chairman of Engineers India Ashok Kumar Purwaha said cash for equity stake will be used in a gas-based plant and city gas distribution.

IPO of Greatship is expected very soon

The initial public offering of Greatship will be issued very soon. Greatship, a 97.6% owned by GE Shipping, is one of the largest providers of offshore oilfield services in India. Greatship gives logistics and drilling services for offshore oil and gas exploration and production work for its clients.

Amazing response for subscribing EIL FPO

There was amazing response from investors for the follow-on public offering of EIL which ends on 30th July. As per NSE statistics, the subscription is 11.63 times. The shares issued are 334 lakh and bid received is 39 crore equity shares. The subscription was 23.43 times for reserved portion.

Sales of Mobile phones will rise to 18.5% in India

Research firm Gartner said that the sale of mobile phone sales are expected to rise by 18.5% in India this year. Last year, the Mobile sales were 117 million and are expected to rise 138.6 million in 2010 and 206 million by 2014.

Online auction planned for two NTC properties

The two National Textile Corporation properties in Mumbai will be auctioned online, Dayanidhi Maran said last Thursday. The auction will start from Poddar Mills with 2.39 acre price tag of Rs 250 crore. Runwal, Peninsula, Indiabulls, Lodha are among 8 companies bidding for this property.

IPS officer and former DGP questioned by CBI

IPS officer Geeta Johri has to appear in front of CBI before August 10 and former DGP PC Pandey has to appear before August 11 as both of them will be questioned regarding Sorabuddin case. Amit Shah, former Gujarat Minister, has already been questioned for 2 days in Sabarmati Jail.

'Fault Lines' speaks about world economy

'Fault Lines' latest book from Raghuram Rajan, the famous economist, writes about hidden secrets which affect world economy. In an interview he said that the sovereign debt crisis in Europe is almost over. The results are very positive than expected and temporary problems will be relieved very soon.

Export of Iron ore banned in Karnataka

Due to illegal mining, state government has banned export of iron ore from Karnataka. The ban will mostly affect iron ore miners in the state, but on the other side Reddy brothers will mostly be benefitted from this ban. The two minister’s mines are mainly located in AP.

Reliance plans $1.5 billion theme park and resort in India

Universal Studios is anticipated to build a theme park and resort worth $1.5 billion in India on 400 acre land deal made by Reliance ADA Group of India. Negotiations are at its starting stage but there is still a chance of cancelling the project in any moment.

Proposal to refund $6.4 billion rejected by Finance Minister

The government-managed telecom firm’s proposal to refund the $6.4 billion has been rejected by Pranab Mukherjee, the Finance Minister. In case the amount is returned back to Sanchar Nigam Ltd and MTNL, there is a chance of legal complications to arise on this matter.

Sam Mahtani expects about 12-15% return

Director of Emerging Market Equities, F&C Asset Management Sam Mahtani, said there will be 12-15% return in a year with a chance for the opposite. The valuations are nearly 14.5-15 times earnings which is not so high. India looks promising but the Fund manager looks forcible.

BSE Sensex drops 0.69% on downbeat trading

The BSE 30-share Sensex fell 123.71 points or 0.69% to 17,868.29. The Sensex rose 8.35 points at the day's high of 18,000.35 in early afternoon trade. The index lost 153.08 points at the
day's low of 17,838.92 in late trade.

The S&P; CNX Nifty fell 41.30 points or 0.76% to 5,367.60.

The BSE Mid-Cap index rose 0.35%. The Small-Cap index rose 0.2%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 4537 crore, lower than Rs 4609.60 crore on Thursday, 29 July 2010.

Market Breadth:

Positive 1339 Negative 1608 Unchanged 97
From the 30 share Sensex pack, 22 fell and rest rose.

Bharat Gears declares rise in top-line at Rs 71 crore YoY

In the latest development, Bharat Gears declared rise in top-line at Rs 71 crore as against Rs 53 crore in the same period last year, according to its Chairman and Managing Director Surinder Kanwar when asked about the firm’s results in the first quarter of the financial year 2010-2011.

Visa Steel declares net profit decline to Rs 7.6 crore in Q1 FY11

According to the Managing Director of Visa Steel, Vishal Agarwal, the firm already reported its numbers in the first quarter of the financial year 2010-2011 wherein its net profit declined to Rs 7.6 crore as compared to the previous Rs 10 crore in the same period last year.

Alok Industries obtains 45.8% net profit rise in quarter ending in June

The Managing Director of Alok Industries, Dilip Jiwraika, stated that the firm already declared its outputs in the quarter ending in June this current financial year 2010-2011. Its net profit soared 45.8% to Rs 46.5 crore as compared to Rs 32 crore in the same period last year.

Emami Group obtains net profit rise of Rs 35 crore YoY in Q1 FY11

According to the Executive Director of Emami Group, Mohan Goenka, the firm already declared that its net profit soared to Rs 35 crore in the first quarter of the financial year 2010-2011 versus Rs 15.5 crore in the same period last year.

Petronet LNG attains Rs 111 crore net profit YoY in Q1 FY11

In the latest development, Petronet LNG declared that its net profit in the first quarter of the financial year 2010-2011 increased to Rs 111 crore versus Rs 103 crore year-on-year while its net sales climbed to Rs 2,627 crore versus Rs 2,612 crore YoY.

Gujarat State Petronet absorbs Rs 251.8 net sales decline QoQ in Q1 FY11

In a statement released by the Chief Financial Officer of Gujarat State Petronet, Manish Sheth, the firm already announced its first quarter outputs in the financial year 2010-2011 wherein its net sales declined to Rs 251.8 crore versus Rs 257.9 crore in the same period last quarter.

Welspun Group’s Q1 FY11 net profit soars to Rs 189.57 crore YoY

According to the Director of Welspun Group, Akhil Jindal, the firm already declared its quarter one outputs in the financial year 2010-2011 wherein its sales soared to Rs 2,041.13 crore versus Rs 1,879.80 crore year-on-year while its net sales rose to Rs 189.57 crore versus Rs 138.21 crore YoY.

SpiceJet hopes for more in Q3, Q4 FY11

The Q1 FY11 net profit of SpiceJet was Rs 55.2 crore whereas last year it was Rs 26.3 crore. This year, net sales were Rs 708 crore whereas last year it was Rs 525 crore. The SpiceJet Director Kishore Gupta said Q2 will be normal, the Q3 and Q4 will be increased.

Vodafone tax problem reaches Finance Minister

George Osborne, UK's Chancellor of Exchequer, said, tax problems of Vodafone will be discussed with Finance Minister of India. India should need to give the message about tax issue to UK investors as the telecom operator has already made large investments in the country, he added.

Fortis still wants to obtain more assets in Asia

Fortis still wants to obtain more assets in Asia. Malvinder Singh, chairman of Fortis Healthcare, said they still want to obtain healthcare companies in Asia even after losing to Khazanah in Parkway bidding. The group has got around $800-900 million in cash and it has well organized line of credit which can help in obtaining more assets.

SE Investment opinionates about non-performing assets

SKS Microfinance decided to tap the capital markets. SE Investment manager Sunil Agarwal said FY11 topline will cross Rs 200 crore, Profit-after-Tax estimated at Rs.60-65 crore and operating margin expected around 5%. There are also chances of writing off all non-performing assets as bad debts, he added.

Economic growth to slow down globally

The world's biggest bond fund manager said, the expansions will slow down over next 5-10yrs due to the aging of people in USA and other improved economies. The global financial crisis made economies hard to reduce debt levels. Speed of economic growth will reduce due to demographic trends.

Reliance Industries gas pumpimg delayed till 2013

Sundareshan, the oil Secretary after meeting the ministerial panel, stated this Wednesday that there will be a delay of 2 yrs by Reliance Industries in pumping natural gas at full capacity from the sea. The oil currently pumped is 55-60million cubic mtrs a day of gas.

A 5.5-year dollar bond to be sold by IDBI Bank

A benchmark-sized 5.5-year dollar deal will be sold by IDBI Bank in India before Thursday. Many banks have been assigned to administer the deal. HSBC, Standard Chartered Bank, Royal Bank of Scotland, Barclays Capital and BNP Paribas are few of them.

Rim to introduce new iPhone to compete with Apple Inc

Research in Motion.Ltd, the BlackBerry Smartphone maker shares had increased on Wednesday. RIM has planned to reveal its new slider 9800 mobile in an event held at New York along with BlackBerry-AT&T Inc. The long-awaited touchscreen mobile is specially made to compete with iPhone from Apple Inc.

Deposit rates in the banks have started increasing

The deposit rates have started to increase in banks, a day after the Credit Policy. HDFC bank raised its basic points from 25-50 which was the first to do so and Central Bank of India will increase by 25-50 bps from August. Axis Bank plans to do this shortly.

Saudi Aramco in multi-billion dollar refinery deal

Saudi Aramco announced it has signed a deal with international firms for building a multi-billion dollar refinery at Yanbu's Red Sea coast in Saudi Arabia. The company plans to add 1.7 million bpd of refining capacity where it accounted to 400,000 bpd under the quarter.

The dividend of Kotak Mutual Fund announced at 15%

The dividend of Kotak Mutual Fund has been declared at 15% under its Kotak Contra option. The final date for dividend is 30th July. The people will get this dividend only if they are registered before 30th of July. The dividend option stayed at Rs 19.103 on 27th of July.

Shares of EIL is open for subscribing

Nirmal Bang of EIL has informed that the follow-on public offer can be subscribed now. The company provides design, procurement, construction, etc and mainly concentrates on gas and petrochemicals companies in domestics and international level. The prices for 334 lakh shares are Rs 270-290 per share which ends on 30th of July.

BSE Sensex on 0.19% rise amid mixed market

The BSE 30-share Sensex rose 34.63 points or 0.19% to 17,992. The Sensex rose 55.73 points at the day's high of 18,013.10 at the fag end of the trading session. The index lost 54.53 points at the day's low of 17,902.84 in morning trade.

The S&P; CNX Nifty rose 11.35 points or 0.21% to 5,408.90.

The BSE Mid-Cap index rose 0.22%. The Small-Cap index fell 0.17%.

Sectoral indices on BSE were mixed. The BSE PSU index (up 1.62%), banking sector index Bankex (up 0.92%), FMCG index (up 0.73%), and Auto index (up 0.49%), outperformed the Sensex. The BSE Realty index (up 0.13%), Metal index (down 0.11%), IT index (down 0.12%), Power index (down 0.23%), Healthcare index (down 0.24%), Capital Goods index (down 0.25%), Consumer Durables index (down 0.36%), and Oil & Gas index (down 0.76%), underperformed the Sensex.

BSE clocked turnover of Rs 4579 crore, lower than Rs 5028 crore on Wednesday, 28 July 2010.

Market Breadth:

Positive 1433 Negative 1502 Unchanged 82
From the 30 share Sensex pack, 17 rose and rest fell.

Subex declares Rs 2.5 crore decline in cons net profit this Q1 FY11

In a statement released by the President and Chief Executive Officer of Subex, Subash Menon, he revealed that the firm already announced it quarter one numbers in the financial year 2010-2011 wherein its consolidated net profit declined to Rs 2.5 crore as against Rs 35.1 crore in the same period last year.

Apollo Tyres cons net profit dips to Rs 74 crore YoY in Q1 FY11

According to Apollo Tyres, the firm already declared its quarter one outputs in the financial year 2010-2011 wherein its consolidated net profit declined to Rs 74 crore as compared to the previous Rs 94.6 crore year-on-year. Its consolidated net sales rose to Rs 1,821 crore versus Rs 1,180 crore.

Qualcomm arm in India to put on sale 26% stake

In the latest development, the broadband subsidiary of Qualcomm in India has been aiming to put on sale its 26% stake to both Indian firms namely Global Holdings and Tulip telecom wherein both are set to acquire 13% stake each for a total value of Rs 300 crore.

NHPC declares net profit at Rs 537 crore in Q1 FY11

According to the Director for Finance of NHPC, ABL Srivastava, the firm already announced its quarter one numbers in the financial year 2010-2011 wherein its net profit reached Rs 537 crore whereas its net sales stood at Rs 1,020 crore.

Aster Silicates expects 40% rise in sales in 2010

In the statement released by the Chairman and Managing Director of Aster Silicates, Mahesh Maheshwari, he revealed that the firm has been looking forward to attain at least 40% sales in the current year from a sale obtained last year amounting to Rs 62 crore.

Hexaware Technologies attains revenue rise of 12.96% QoQ in Q2 FY11

According to the Hexaware Technologies, the firm already released its quarter two outputs in the financial year 2010-2011 wherein its revenues rose to USD 54.9 million versus USD 48.6 million with an increase of 12.96% in the same period last quarter.

Delta Corp witnesses 15% net sales rise YoY in Q1 FY11

In the latest development, Delta Corp already witnessed a 15% rise in net sales in the first quarter of the financial year 2010-2011. Moreover, its net sales crossed Rs 32.11 crore versus Rs 27.98. crore year-on-year. Its Profit After Tax soared to Rs 4.27 crore versus Rs 2.31 crore YoY.

Venkys, UltraTech Cement, RPG Life Sciences, Arvind, 3i Infotech declared results today

Hexaware Technologies
Net profit was up at Rs 14.4 crore versus Rs 11.6 crore

HCL Technologies
Net profit was down at Rs 342 crore versus Rs 344 crore

Tata Teleservices (Maharashtra)
Net profit was up at Rs 558 crore
Net sales were up at Rs 552 crore versus Rs 468 crore

Steel Authority of India
Net profit was down at Rs 1,177 crore versus Rs 1,326 crore
Net sales were down at Rs 9,133 crore versus Rs 9,163 crore

Venkys
Net profit was up at Rs 28.1 crore versus Rs 11.1 crore
Net sales were up at Rs 213 crore versus Rs 169 crore

Andhra Bank
Net profit was up at Rs 320 crore versus Rs 256 crore

Housing Development and Infrastructure
Net profit was up at Rs 234 crore versus Rs 107 crore
Net sales were up at Rs 451 crore versus Rs 295 crore

NHPC
Net profit was at Rs 537 crore
Net sales were at Rs 1,020 crore

Nagarjuna Fertilisers and Chemicals
Net profit was up at Rs 27.1 crore versus Rs 23.1 crore
Net sales were up at Rs 331 crore versus Rs 329 crore

UltraTech Cement
Net profit was down at Rs 242.7 crore versus Rs 418 crore
Net sales were down at Rs 1,790 crore versus Rs 1,952 crore

RPG Life Sciences
Net profit was Rs 3.7 crore
Net sales were down at Rs 378 crore versus Rs 390 crore

Oriental Bank of Commerce
Net profit was up at Rs 363 crore versus Rs 257.41 crore
Net sales were up at Rs 1,252.82 crore versus Rs 882.92 crore

Hitachi Home & Life Solutions
Net profit was down at Rs 14.5 crore versus Rs 18.6 crore

Arvind
Net profit was up at Rs 19 crore versus Rs 9.2 crore
Net sales were down at Rs 570 crore versus Rs 579 crore

Bata India
Net profit was up at Rs 25.9 crore versus Rs 18.4 crore
Net sales were up at Rs 350.1 crore versus Rs 308.6 crore

3i Infotech
Net profit was at Rs 20.89 crore
Net sales were down at Rs 128.38 crore versus Rs 142.95 crore

Indo Gulf Industries
Net sales were down at Rs 0.01 crore versus Rs 11.88 crore

Panyam Cements and Mineral Inds.
Net profit was down at Rs 2.26 crore versus Rs 8.36 crore
Net sales were down at Rs 33.83 crore versus Rs 40.76 crore

Noida Medicare
Net profit was up Rs 6.73 crore versus Rs 0.63 crore
Net sales were up at Rs 13.51 crore versus Rs 6.73 crore

Pro Fin Capital Services Ltd
Net sales were down at Rs 0.04 crore versus Rs 0.11 crore

RBI interest rates may increase and base rate will remain the same

The interest rates from RBI are expected to rise at any moment, according to the Chairman and Managing Director of Bank of Baroda, MD Mallya. He also said that there is no need to worry about the base rate as it would remain the same, as it generally relies upon deposit rates.

Aster Silicates share value increases by 8.52% versus issue price

Aster Silicates has recorded its share at Rs 128.05 on NSE which rose 8.52% versus its issue price of Rs 118. The shares bartered for Rs 129.95, rose 10.13%, with volume of Rs 45.25 lakh shares. The early trade witnessed a low of Rs 123.40 and a high of Rs 131.10.

Yahoo Inc assets comes into investor attention

The unexpected information about Yahoo Japan turning to Google has brought investor attention on Yahoo Inc assets. Yahoo Japan, which faked agreement with Microsoft Corp for internet search technology, is a self-governing organization where a 35% stake is held by Yahoo.

Stake of ABB in Indian unit increased by 75%

The stake of ABB Ltd has been increased by 75% in its Indian unit. Moreover, ABB Ltd, which belongs to Swiss engineering group, will improve its place in Indian market. The outstanding shares of 23% were approved by ABB India. The demand has also increased by 1.5% according to ABB.

Britain wants India to improve trades

Britain wants India to do more business with them as the Prime Minister David Cameron will also help in achieving economic growth. After visiting India in May, Cameron had appointed 30 senior executives from major UK conglomerates for expressing his willingness to work with the country.

Google to offer new social networking website

In the latest development, the social networking website Facebook will get a tough competition by the Google Inc as the firm met the gaming conglomerates to create a new service. The online game creators have been approached by Google for a service which includes Playdom Inc and others.

Playdom Inc being purchased by Walt Disney for high price

Playdom Inc will be taken over by Walt Disney for $563.2 million. The fast growing online games like in Facebook and MySpace will be given high importance by the company. This is the biggest contract ever made in the history of social games.

India's inflation expected to reach the single digit

Subir Gokarn, the deputy governor of RBI, informed inflation in India is being eyed to go down to single-digit in few months. As central bank increased its interest rates, he declared that the inflation will be at high single digit for some time.

Q1 FY11 net profit of Asian Paints increases by 23%

As expected by Asian Paints, net profit for quarter ending in June climbed by 23% as the sales for decorative part have increased. The firm’s quarterly net profit stayed at Rs 2.01 billion on net sales of Rs 14.91 billion. But the company is only worried about the increase of price in raw material.

Bauxite mine project in Orissa faces protests

The plans of Vedanta to construct a bauxite mine in the sacred place for domestic people will face protests at the meeting of shareholders from investors this Wednesday. The pressure groups are against this mining plan for a long time. The plan expects more activists opposing in future.

Net profit of Godrej Industries rises high in Q1 FY11

The combined net profit of Godrej Industries has almost tripled as its own chemicals business and associate companies performed very well. The profit rose to Rs 487.4 million from Rs 163.6 million year-on-year and total income increased 30% to Rs 1.01 billion in the first quarter of FY11.

NTPC issues pact of Rs 58.63 crore to Petron Engineering

A pact amounting to Rs 58.63 crore has been signed by Petron Engineering Construction Ltd from NTPC. The firm stated that the deal from NTPC included the supply of electrical equipment and erection package for different thermal power projects which is being managed by NTPC.

BSE Sensex slumps 0.67% as almost every sector drop

The BSE 30-share Sensex shed 120.24 points or 0.67% to 17957.37. The Sensex rose 59.53 points at the day's high of 18,137.14 in early trade. The index lost 152.21 points at the day's low of 17,925.40 in late trade.

The S&P; CNX Nifty was down 33.05 points or 0.61% to 5,397.55.

The BSE Mid-Cap index was down 0.21%. The Small-Cap index fell 0.16%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Oil & Gas index (down 1.92%), Realty index (down 1.29%), and Capital Goods index (down 0.86%), underperformed the Sensex. The BSE Auto index (up 0.66%), Healthcare index (up 0.3%), Metal index (up 0.12%), IT index (up 0.03%), FMCG index (down 0.03%), Consumer Durables index (down 0.04%), Power index (down 0.09%), PSU index (down 0.16%), and banking sector index Bankex (down 0.24%), outperformed the Sensex.

BSE clocked turnover of Rs 4291 crore, higher than Rs 4085.78 crore on Tuesday, 27 July 2010.

Market Breadth:

Positive 1209 Negative 1720 Unchanged 85
From the 30 share Sensex pack, 17 fell and rest rose.

Sun TV Network, Bajaj Electricals, Corporation Bank, Trent declared results today

Sun TV Network
Net profit was up at Rs 170.9 crore versus Rs 119.8 crore
Net sales were up at Rs 440.4 crore versus Rs 287.6 crore

HeidelbergCement India
Net profit was down at Rs 25.7 crore versus Rs 44.6 crore
Net sales were down at Rs 240 crore versus Rs 280 crore

Bajaj Electricals
Net profit was up at Rs 22.5 crore versus Rs 16.4 crore
Net sales were up at Rs 484 crore versus Rs 358 crore

Corporation Bank
Net profit was up at Rs 333 crore versus Rs 261.2 crore

Lupin
Net profit was at Rs 196 crore
Net sales were at Rs 1,342 crore

GTL Infrastructure
Net sales were up at Rs 110.5 crore

Lakshmi Machine Works
Net profit was up at Rs 30.1 crore versus Rs 11.1 crore
Net sales were up at Rs 334.1 crore versus Rs 186.5 crore

Sobha Developers
Net profit was up at Rs 34.3 crore versus Rs 12.7 crore
Net sales were up at Rs 315.6 crore versus Rs 177.1 crore

Alfa Laval (India)
Net profit was down at Rs 21.9 crore versus Rs 29.6 crore
Net sales were down at Rs 193.5 crore versus Rs 207.7 crore

NRB Bearings
Net profit was up at Rs 12 crore versus Rs 4.7 crore

Uttam Galva Steel
Net profit was down at Rs 29.4 crore versus Rs 34.5 crore

Titan Industries
Net profit was up at Rs 81.28 crore versus Rs 46.04 crore
Net sales were up at Rs 1,252.82 crore versus Rs 882.92 crore

Samkrg Pistons and Rings
Net profit was up at Rs 2.18 crore versus Rs 1.14 crore
Net sales were up at Rs 41.14 crore versus Rs 27.48 crore

Panasonic Energy India Company
Net profit was up at Rs 1.65 crore versus Rs 1.39 crore
Net sales were up at Rs 43.42 crore versus Rs 41.66 crore

Kalyanpur Cements Ltd
Net profit was down at Rs 4.49 crore versus Rs 3.13 crore
Net sales were up at Rs 64.37 crore versus Rs 43.16 crore

Investment and Precision Castings
Net profit was up at Rs 1.04 crore versus Rs 0.96 crore
Net sales were up at Rs 16.29 crore versus Rs 12.18 crore

Trent
Net profit was up at Rs 8 crore versus Rs 5.1 crore
Net sales were up at Rs 154 crore versus Rs 119 crore

Neyveli Lignite Corporation
Net profit was up at Rs 342.1 crore versus Rs 287.6 crore
Net sales were up at Rs 1,145.4 crore versus Rs 884.3 crore

Patni Computer Systems
Net profit was up Rs 147.3 crore versus Rs 149.71 crore

NELCO
Net sales were down at Rs 28.84 crore versus Rs 47.78 crore

Kalyani Steel’s net profit in Q1 FY11 rises to Rs 20 crore YoY

In the latest development, the Executive Director of Kalyani Steel, CG Patankar, informed the public that the firm already reported its first quarter numbers in the financial year 2010-2011 wherein its net profit increased to Rs 20 crore versus Rs 1 crore loss year-on-year.

Everest Kanto Cylinder absorbs cons net sales dip at Rs 138.1 crore

According to the Chairman and Managing Director of Everest Kanto Cylinder, Prem Khurana, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein its consolidated net sales dipped to Rs 138.1 crore versus Rs 153 crore in the same period last year.

Aviva targets to increase stake in Indian merger unit

In a statement released by the Chief Executive Officer of Aviva Plc, Andrew Moss, he revealed that the top-two insurance firm in Britain has been aiming to increase its stake to 49% in its merger unit India immediately after being approved by law.

3i Infotech attains Rs 61.2 crore net profit in Q1 FY11

According to the Managing Director and Chief Executive Officer of 3i Infotech, V Srinivasan, the firm already announced its quarter one numbers in the financial year 2010-2011 wherein it attained net profit of Rs 61.2 crore and consolidated sales of Rs 637 crore.

VIP Industries declares rise in Q1 FY11 net profit at Rs 32 crore

The Chairman of VIP Industries, Dilip G Piramal, has informed the public regarding the firm’s first quarter outputs in the financial year 2010-2011 wherein its net profit soared to Rs 32 crore as compared to the previous Rs 20 crore in the same period last year.

Surana Ventures scheduled to list in August 31

According to the Managing Director of Surana Ventures, Narender Surana, the demerged sun energy unit of Surana Telecom has been scheduled to list by August 31 in the Indian market. Moreover, it has been under negotiations to have a tactical joint venture Norwegian Solar PV Company.

Firstsource Solutions net sales ending in June FY11 crosses Rs 151 crore

In the latest development, Firstsource Solutions already announced its outputs in the quarter ending in June this financial year 2010-2011 wherein its standalone net profit crossed Rs 13.363 crore whereas its net sales reached Rs 151 crore. Moreover, it obtains Rs 475 crore in sales.

SKS Microfinance IPO Review

SKS Microfinance Ltd. (SKSML) was initially incorporated as SKS Microfinance Pvt. Ltd in September 2003 and subsequently converted into a Public Ltd company and the name changed to the present in May 2009. Core business of SKSML is to provide small loans ranging from Rs.2,000 to Rs.12,000 exclusively to poor women predominantly located in rural areas in India. These loans are provided to such members essentially for use in their small businesses and not for personal consumption.

SKSML is amongst the largest micro finance institution in India in terms of total value of loans outstanding, number of borrowers and number of branches.

Post issue promoters & promoter’s group shareholding will reduce to 37.10% from existing 55.8%.The retail investors are offered a discount of Rs.50 on the issue price.

Issue Objectives  

• To augment the capital base of the company in order to meet the future capital requirements arising out of growth in the business
• General Corporate Purposes 

SKS Microfinance Limited IPO Grading / Rating Care has assigned an IPO Grade 4 indicating above average fundamentals.

Issue Open: July 28, 2010 - Aug 2, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 16,791,579 Equity Shares of Rs 10
Issue Size: Rs. 1,427.28 to 1,653.97 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 850 - Rs. 985 Per Equity Share
Market Lot: 7 Shares
Minimum Order Quantity: 7 Shares
Listing At: BSE, NSE

SKS Microfinance IPO Review
SKS Microfinance Draft Prospectus
SKS Microfinance Allotment Status
SKS Microfinance Basis of Allotment
SKS Microfinance IPO Listing

Plastiblends India’s Q1 FY11 net sales rises to Rs 60 crore YoY

According to the Chairman and Managing Director of Plastiblends India, SV Kabra, the firm already announced its first quarter results in the financial year 2010-2011 wherein its net sales rose to Rs 60 crore as against Rs 44 crore in the same period last year.

11% of Inflation will be noticed by July

Anant, Chief Statistician of India T.C.A., has said inflation in July can be 11%. To control headline inflation, monetary tightening and farm production must be increased and prices may come down by November, Anant added. The repo and reverse repo rates expected to increase fourth time since mid-March.

Dividend announced by Sahara Mutual Fund

For the dividend option of Sahara Power & Natural Resources Fund, it has announced 20% dividend wherein July 30th is the schedule for dividends. The registered members in July 30 will be suitable for dividends. The dividend price was Rs.20.214 under the scheme of NAV as on July 26, 2010.

Credit policy is expected to increase more

There is anticipation of 25bps rise in repo and reverse repo rates according to a poll on Credit Policy day. But an increase of cash reserve ratio is unknown. There are more chances of increase in both repo and reverse repo says Nomura Co-Head of Fixed Income India.

Mahindra's member enrollment is low in first quarter

Mahindra Holidays and Resorts member enrollment has gone down in the first quarter of the current financial year. It attains topline of 23.6% and bottomline of 60.6% when compared to last year. Chairman Arun Nanda announced that the firm will strengthen the member base and the figures will increase very soon.

India’s Engineers FPO can be subscribed from today

The shares of 334 lakh from India’s Engineers FPO can be subscribed from today. The rates for the share are given at Rs 270-290 every share. The consultancy firm gives services in engineering, procurement, construction but mainly concentrating on oil and petrochemicals industries in domestic and global level.

MakeMyTrip wants to accrue up to $100 million via IPO

MakeMyTrip submitted documents with the US regulators for public offering of common stock to accrue $100 million. The Exchange Commission and US Securities have been informed by the firm located in Haryana that IPO was underwritten by Oppenheimer and Pacific Crest Securities.

Deutsche Bank investment bank taken over by new team

The new management team for Deutsche Bank's investment bank was released a day before the announcement of second-quarter earnings. The chief executive officer of the bank, Josef Ackermann, will be taken over by Anshu Jain and he will be in charge of corporate finance, markets and transaction banking.

JFE Holdings Inc to tie-up with JSW Steel Ltd

In the latest development, JFE Holdings Inc aims at its first main capital tie-up with foreign steelmaker JSW Steel Ltd by means of acquiring a 14.99% stake with a value of $1.04 billion, according to the firm’s Vice President Shigeru Ogura.

Ford Motor confident of further growth

Alan Mulally, chief executive of Ford Motor, announced that the firm was aware of its growth after the US economy recovered. He also said that it is a slow recovery after the recessions and they are ready for the current demand with confidence of growing further.

Khazanah purchases parkway beating Fortis

Fortis lost to Khazanah in purchasing parkway for S$3.95 every share. But Fortis was praised by chairman of Apollo Hospitals Group Prathap Reddy and he said there are other big healthcare chances to get. Apollo is open to increase the relations with Khazanah as they share good bonding.

Tech Mahindra cons net profit for Q1 FY11 rose to Rs 144 crore QoQ

The combined net profit in the first quarter of the financial year 2010-2011 of Tech Mahindra rose to Rs 144 crore versus Rs 132 crore QoQ. The combined net sales rose to Rs 1,134 crore versus Rs 1,113 crore. Tech Mahindra CFO Sanjay Anand made the announcement this day.

SKS Microfinance plans to increase funds

A public offering shares may be used to raise funds of $353 million by SKS Microfinance as there is huge requirement of loan for the poor in Asia. The only company from institutions of microfinance and the first one in India will be opened from 28th July-2 August.

Dewan Housing Finance Corp net profit rises to Rs 51.2 crore YoY in Q1 FY11

According to the General Manager for Finance of Dewan Housing Finance Corporation, Prashant Chaturvedi, the firm already declared its first quarter outputs in the financial year 2010-2011 wherein its net profit rose to Rs 51.2 crore versus Rs 31.3 crore year-on-year.

Honda India auto arm to spend Rs 250 crore in Rajasthan plant

In a statement released by Honda Siel Cars India, the Indian auto subsidiary of Honda, the firm already announced that it has been planning to spend Rs 250 crore or USD 53.3 million in constructing its engine and transmission refinery in Rajasthan this present year.

BSE Sensex soars 0.32% as auto, realty lead progress

The BSE 30-share Sensex was up 57.56 points or 0.32% to 18,077.61. The Sensex rose 129.51 points at the day's high of 18,149.56 in mid-afternoon trade. The index lost 21.31 points at the day's low of 17,998.74 in early trade.

The S&P; CNX Nifty was up 12 points or 0.22% to 5,430.60.

The total turnover on BSE amounted to Rs 4061 crore, higher than Rs 3722 crore on Monday, 26 July 2010

The BSE Mid-Cap index rose 0.27%. The BSE Small-Cap index fell 0.03%. Both these indices underperformed the Sensex.

Most of the sectoral indices on BSE rose. The BSE Auto index (up 2.4%), BSE Realty index (up 1.47%), Consumer Durables index (up 0.96%), The BSE Bankex index (up 0.69%), BSE IT index (up 0.66%), the BSE TECk index (up 0.57%), the BSE FMCG index (up 0.4%) outperformed the Sensex.

The BSE Capital Goods index (down 1.91%), BSE Healthcare index (down 0.32%), Power index (down 0.19%), BSE Oil & Gas index (up 0.07%), BSE Metal index (up 0.17%), BSEPSU index (up 0.23%) underperformed the Sensex.

Market Breadth:

Positive 1369 Negative 1541 Unchanged 92
From the 30 share Sensex pack, 20 rose and rest fell.

Diamond Power Infrastructure accrues Rs 114 crore through QIP

According to the Managing Director of Diamond Power Infrastructure, Amit Bhatnagar, the firm already accrued Rs 114 crore by means of QIP. In addition to this, the firm has been looking forward to attain Rs 1,150 crore in sales in the financial year 2010-2011.

IRB Infra Developers Q1 FY11 cons net profit slumps to Rs 117.5 crore QoQ

According to IRB Infrastructure Developers, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein its consolidated net profit has plunged to Rs 117.5 crore as against Rs 141.7 crore in the same period last quarter.

Ashok Leyland, GIC Housing Finance, Larsen and Toubro, Ceat declared results today

Ashok Leyland
Net profit was up at Rs 123 crore versus Rs 7.7 crore
Net sales were up at Rs 2,348 crore from Rs 912.5 crore

GIC Housing Finance
Net profit was up at Rs 19.3 crore versus Rs 16.9 crore

Larsen and Toubro
Net profit was up at Rs 666 crore versus Rs 578 crore
Net sales were up at Rs 7,835 crore versus Rs 7,362.7 crore

Kalyani Steels
Net profit was at Rs 20 crore

Jyothy Laboratories
Net profit was up at Rs 25.7 crore versus Rs 22 crore
Net sales were up at Rs 151 crore versus Rs 119 crore

Ceat
Net profit was down at Rs 13.9 crore versus Rs 60.2 crore
Net sales were up at Rs 772 crore versus Rs 639 crore

Hindustan Unilever
Net profit was down at Rs 512.4 crore versus Rs 558.6 crore
Net sales were up at Rs 4,793.9 crore versus Rs 4,475.7 crore

Peninsula Land
Net profit was up at Rs 49.5 crore versus Rs 32.6 crore
Net sales were up at Rs 148.3 crore versus Rs 115.4 crore

Radico Khaitan
Net profit was at Rs 16 crore
Net sales were at Rs 234 crore

Sona Koyo Steering Systems
Net profit was up at Rs 5.5 crore versus Rs 86 lakh
Net sales were up at Rs 216 crore versus Rs 187 crore

Dewan Housing Finance Corporation
Net profit was up at Rs 51.2 crore versus Rs 31.3 crore
Net sales were at Rs 276 crore

Jubilant Organosys
Net sales were up at Rs 981.5 crore versus Rs 896.4 crore

Prism Cement
Net profit was down at Rs 56 crore versus Rs 74 crore

Orbit Corporation
Net profit was at Rs 19.5 crore
Net sales were at Rs 111 crore

Tourism Finance Corp of India
Net profit was up at Rs 7 crore versus Rs 5.8 crore

Mahindra Ugine Steel Company
Net profit was down at Rs 3 crore versus Rs 4.5 crore

Concurrent (India) Infrastructure
Net profit was up at Rs 6.48 crore versus Rs 4.75 crore
Net sales were up at Rs 54.75 crore versus Rs 51.53 crore

SEL Manufacturing Company
Net profit was up at Rs 23.14 crore versus Rs 18.23 crore
Net sales were up at Rs 356.86 crore versus Rs 182.92 crore

Seshasayee Paper and Boards
Net profit was up at Rs 14.62 crore crore versus Rs 10.15 crore
Net sales were up at Rs 122.18 crore versus Rs 120.69 crore

Teledata Technology Solutions
Net profit was at Rs 0.70 crore
Net sales were up at Rs 1.95 crore versus Rs 0.64 crore

Stride Arcolab Q2 FY11 cons net profit rises to Rs 45.8 crore

In the latest development, Stride Arcolab already announced its quarter two outputs in the financial year 2010-2011 wherein its consolidated net profit has surged to Rs 45.8 crore as compared to the previous Rs 41.8 crore in the same period last year.

Tourism Finance Corp of India attains Rs 20.3 crore rise in revenues this Q1 FY11

In a statement released by the Chairperson and Managing Director of Tourism Finance Corporation, Archana Capoor, the firm already declared its first quarter results in the financial year 2010-2011 wherein its revenues rose to Rs 20.3 crore as against Rs 16.6 crore year-on-year.

Engineers India FPO Review

Engineers India Limited is an engineering consultancy company providing design, engineering, procurement, construction and integrated project management services, incorporated in 1965. It focuses on the oil and gas and petrochemicals industries in India and internationally. It also operates in a diverse set of other sectors including non-ferrous mining and metallurgy and infrastructure.

EIL provides a range of services to meet the specific requirements of its clients, which includes feasibility studies, project management, planning and scheduling, process design and construction management. It operates in two segments: the Consultancy and Engineering segment and the Lumpsum Turnkey Projects segment.

EIL provides a range of engineering consultancy and project implementation services on more than 49 refinery projects, including eight greenfield refinery projects, seven petrochemical complexes, 35 oil and gas processing projects, 205 offshore platforms projects, 37 pipeline projects, 11 ports and storage and terminals projects, eight fertilizer projects and 26 mining and metallurgy projects.

After the public issue, the government holding in the company will fall to 80.4% from the current 90.4%. Earlier this year, the company had issued bonus shares in the ratio of 2:1. It had also gone for a stock split, with the face value of a unit being cut to Rs 5 from Rs 10 earlier.The retail investors are offered a discount of 5% on the issue price. 

Issue Objectives  

• Divestment of 33,693,660 Equity Shares by the Government
• The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder- Government of India
• The government plans to raise about Rs 950 crore by disinvesting 10% stake in the company 

Issue Open: July 27, 2010 - July 30, 2010
Issue Type: 100% Book Built Issue FPO
Issue Size: 33,693,660 Equity Shares of Rs 5
Issue Size: Rs. 909.73 to 977.12 Crore
Face Value: Rs. 5 Per Equity Share
Issue Price: Rs. 270 - Rs. 290 Per Equity Share
Market Lot: 20 Shares
Minimum Order Quantity: 20 Shares
Listing At: BSE, NSE

Engineers India IPO Review
Engineers India Draft Prospectus
Engineers India Allotment Status
Engineers India Basis of Allotment
Engineers India FPO Listing

Sandu Pharmaceuticals, Sundaram Finance, Pricol, Nelcast declared results today

Sandu Pharmaceuticals
Net profit was down at Rs 0.18 crore versus Rs 0.19 crore
Net sales were up at Rs 4.17 crore versus Rs 3.19 crore

State Trading Corporation of India
Net profit was down at Rs 9.00 crore versus Rs 20.89 crore
Net sales were down at Rs 3,179.98 crore versus Rs 5,350.65 crore

SMS Pharmaceuticals
Net profit was down at Rs 1.84 crore versus Rs 1.22 crore
Net sales were up at Rs 46.84 crore versus Rs 52.53 crore

Sundaram Finance
Net profit was down at Rs 58.81 crore versus Rs 61.23 crore
Net sales were up at Rs 306.43 crore versus Rs 271.11 crore

Revathi CP Equipment
Net profit was down at Rs 0.51 crore versus Rs 2.84 crore
Net sales were down at Rs 21.43 crore versus Rs 23.14 crore

Pricol
Net profit was up at s 9.31 crore versus Rs 5.31 crore
Net sales were up at Rs 190.49 crore versus Rs 164.61 crore

Phillips Carbon Black
Net profit was up at Rs 28.70 crore versus Rs 20.48 crore
Net sales were up at Rs 404.76 crore versus Rs 291.45 crore

Nelcast
Net profit was up at Rs 2.08 crore versus Rs 1.17 crore
Net sales were up at Rs 94.82 crore versus Rs 60.52 crore

Mcleod Russel (India)
Net profit was down at Rs 18.85 crore versus Rs 31.18 crore
Net sales were up at Rs 125.18 crore versus Rs 122.29 crore

Maharashtra Elektrosmelt Ltd
Net profit was up at Rs 11.73 crore versus Rs 10.13 crore
Net sales were up at Rs 83.90 crore versus Rs 72.79 crore

Mangalam Cement
Net profit was down at Rs 20.44 crore versus Rs 33.71 crore
Net sales were down at Rs 133.76 crore versus Rs 155.09 crore

Kakatiya Textiles
Net profit was up at Rs 0.63 crore versus Rs 0.33 crore
Net sales were up at Rs 5.41 crore versus Rs 3.13 crore

Lanco Industries
Net profit was down at Rs 7.06 crore versus Rs 9.83 crore
Net sales were down at Rs 110.62 crore versus Rs 169.48 crore

Kesoram Industries
Net profit was down at Rs 35.62 crore versus Rs 97.55 crore
Net sales were up at Rs 1,414.12 crore versus Rs 1,178.55 crore

KELTECH Energies
Net profit was down at Rs 0.95 crore versus Rs 1.79 crore
Net sales were down at Rs 26.12 crore versus Rs 26.34 crore

Deep Industries
Net profit was up at Rs 3.61 crore versus Rs 2.17 crore
Net sales were up at Rs 12.93 crore versus Rs 11.15 crore

Jayshree Tea and Industries
Net profit was down at Rs 11.76 crore versus Rs 12.81 crore
Net sales were up at Rs 83.32 crore versus Rs 69.61 crore

JSL
Net profit was up at Rs 98.06 crore versus Rs 94.76 crore
Net sales were up at Rs 1,627.45 crore versus Rs 1,347.28 crore

Jaiprakash Power Ventures
Net profit was up at Rs 38.45 crore versus Rs 36.54 crore
Net sales were up at Rs 207.88 crore versus Rs 82.59 crore

Indiabulls Securities
Net profit was down at Rs 13.15 crore versus Rs 24.13 crore
Net sales were down at Rs 85.77 crore versus Rs 92.80 crore

Dena Bank looks forward to receive Rs 600 crore in FY11 from government

In a statement released by the Chairman and Managing Director of government-controlled Dena Bank, the banking firm has been anticipating Rs 600 crore funding from the government in the financial year 2010-2011 wherein a total of Rs 1,300 crore was its target until 2013.

Engineers India aims to accrue Rs 990 crore via FPO

In the latest development, the government has been aiming to accumulate around Rs 990 crore or USD 211 million at maximum in FPO or follow-on public offering of Engineers India Ltd’s shares wherein the price range for this issue was set to Rs 270-290 every share.

Dolphin Offshore absorbs 49.7% decline in Q1 FY11 net sales

According to the Chief Financial Officer of Dolphin Offshore, Navpreet Singh, the firm already announced its quarter one results in the financial year 2010-2011 wherein it absorbed 49.7% net sales decline to Rs 80.2 crore from Rs 159.5 crore in the same period last year.

According to the Chairman of Shree Ganesh Jewellry, Nilesh Parikh, the firm already announced its quarter one outputs in the financial year 2010-2011

According to the Chairman of Shree Ganesh Jewellry, Nilesh Parikh, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein its consolidated net profit surges to Rs 64 crore from Rs 29 crore while its consolidated net sales rose to Rs 1,349 crore from Rs 601 crore.

Ferro Alloys obtains Rs 123.5 crore net sales in Q1 FY11

In a statement released by the Chairman of Ferro Alloys Corporation, RK Saraf, the firm already declared its first quarter results in the financial year 2010-2011 wherein its net sales climbed to Rs 123.5 crore as compared to Rs 71.5 crore in the same period last year.

Taj GVK Hotels attains net profit rise at Rs 10.1 crore YoY in Q1 FY11

According to the Managing Director of Taj GVK Hotels, Indira Krishna Reddy, the firm already announced it quarter one outputs in the financial year 2010-2011 wherein its net profit rose to Rs 10.1 crore as against Rs 4.9 crore. Its net sales increased to Rs 60.6 crore from Rs 47.6 crore year-on-year.

GMR targets to sell 50% of its stake in energy unit

In the latest development, GMR Infrastructure has been targeting to sell 50% of its stake in its energy subsidiary InterGen NV. In addition to that, the firm declared that its unit’s value has been evaluated to an amount of nearly USD 1 billion.

Virgin Mobile in trouble with Qatar Telecom

Virgin Mobile's merger with Qatar Telecom may get affected by Vodafone Qatar due to their rivalry. A case may also be filed in this matter, according to Vodafone Qatar. The gulf's telecommunications regulator also said it is a very important decision which has been made by Vodafone Qatar.

Tony Hayward's future to be discussed in BP meeting

CEO Tony Hayward's future in BP Plc will be questioned by the firm's top level management during the assembly of the firm's second-quarter results this Monday. Moreover, the main subject will be aimed on the timing of the CEO's exit from the firm.

GDP increases more than the 1.4% expectancy of government

As the GDP already increased by more than 2% this year, the German economy is expected to grow stronger this year, according to the Economy Minister Rainer Bruederle. The expectancy was 1.4% from the government’s view but has increased more than that as the actual figure was not mentioned yet.

Gulf Air to be privatized by Bahrain right away

According to the head of Bahrain's Economic Development Board, Sheikh Mohammed bin Essa al-Khalifa, Gulf Air, the local carrier, is going to be privatized due its losses, so that it can earn in a year via this decision. It started as regional airline but failed to restructure itself as its shareholders gave up their stakes.

DLF-Limitless joint venture in FDI trouble

A merger entity DLF-Limitless is expecting approval from Foreign Investment Promotion Board to receive foreign direct investment. The township of USD 12 billion was also postponed by Karnataka government due to land problems. Presently, DLF aims to acquire shares of Limitless as they invested Rs 201 crore in the merger.

Air India to receive funds to improve its condition

Praful Patel, the union minister of Civil Aviation has announced to sanction Rs 1,200 crore to Air India to recover loses accrued of Rs 8,461 crore till 2009 as per the cumulative reports. The hike in the fuel price has also become a main concern for Air India.

BSE Sensex plunges 0.61% whereas nearly all sectors slump

The BSE 30-share Sensex fell 110.93 points or 0.61% to 18,020.05. The Sensex rose 63.11 points at the day's high of 18,194.09 in early trade. The index lost 137.10 points at the day's low of 17,993.88 in late trade.

The S&P; CNX Nifty fell 30.50 points or 0.56% to 5,418.60.

The BSE Mid-Cap index fell 0.96%. The BSE Small-Cap index shed 0.81%. Both the indices underperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Auto index (down 3.25%), Realty index (down 2.13%), banking sector index Bankex (down 0.79%), PSU index (down 0.76%), Capital Goods index (down 0.75%), and Oil & Gas index (down 0.72%), underperformed the Sensex. The BSE IT index (up 0.59%), FMCG index (up 0.09%), Consumer Durables index (up 0.05%), Healthcare index (down 0.05%), Metal index (down 0.33%), and Power index (down 0.42%), outperformed the Sensex.

BSE clocked turnover of Rs 3701 crore, lower than Rs 4909.01 crore on Friday, 23 July 2010.

Market Breadth:

Positive 1095 Negative 1834 Unchanged 81
From the 30 share Sensex pack, 16 fell and rest rose.

Dabur India attains 20% rise in consolidated net profit in Q1 FY11

In a statement released by the Chief Executive Officer of Dabur India, Sunil Duggal, the firm already announced its first quarter outputs in the financial year 2010-2011 wherein its consolidated net profit gained 20% to Rs 107 crore versus Rs 89.20 crore in the same period last year.

Sugar manufacturing to reach 25 metric tonnes by FY11: Saraogi

According to the Managing Director of Balrampur Chini Mills, Vivek Saraogi, the present sugar realizations crossed the value of Rs 27.50 every kilogram wherein it is similar to the figure released last quarter three in the financial year 2009-2010. He anticipates that manufacturing of sugar will reach 25 metric tonnes by FY11.

Info Edge Q1 FY11 net profit surges Rs 17.3 crore QoQ

In the latest development, Info Edge already declared its quarter one outputs in the financial year 2010-2011 wherein its net profit increased to Rs 17.3 crore as against Rs 13.2 crore in the same period last quarter. Its net sales climbed Rs 65.9 crore as against Rs 65.3 crore quarter-on-quarter.

Allahabad Bank Q1 FY11 net profit soars to Rs 347 crore YoY

According to the Chairman of Allahabad Bank, JP Dua, the firm already announced its first quarter outputs in the financial year 2010-2011 wherein its net profit rose to Rs 347 crore as compared to Rs 303 crore in the same period last year.

Brigade Enterprises, Jaiprakash Associates, Areva T&D;, Kar Mobiles declared results today

Brigade Enterprises
Net profit was up at Rs 13.9 crore versus Rs 3.9 crore
Net sales were up at Rs 85 crore versus Rs 57.8 crore

Jaiprakash Associates
Net profit was up at Rs 516 crore versus Rs 491.2 crore
Net sales were up at Rs Rs 3,174.2 crore versus Rs 2,067.1 crore

Areva T&D;
Net profit was down at Rs 32.2 crore versus Rs 50.1 crore
Net sales were up at Rs 885 crore versus Rs 802 crore

Sutlej Textiles and Industries
Net profit was up at Rs 15.54 crore versus Rs 4.36 crore
Net sales were up at Rs 350.78 crore versus Rs 250.03 crore

Riddhi Siddhi Gluco Biols
Net profit was up at Rs 31.17 crore versus Rs 5.14 crore
Net sales were up at Rs 202.77 crore versus Rs 156.33 crore

Ramkrishna Forgings
Net profit was up at Rs 3.19 crore versus Rs 0.72 crore
Net sales were up at Rs 77.17 crore versus Rs 50.55 crore

Navin Fluorine International
Net profit was down at Rs 15.24 crore versus Rs 19.10 crore
Net sales were down at Rs 86.44 crore versus Rs 97.49 crore

Lumax Industries
Net profit was up at Rs 4.79 crore versus Rs 1.51 crore
Net sales were up at Rs 175.14 crore versus Rs 154.17 crore

LG Balakrishnan and Brothers
Net profit was up at Rs 8.52 crore versus Rs 4.54 crore
Net sales were up at Rs 157.13 crore versus Rs 118.64 crore

Kar Mobiles
Net profit was up at Rs 0.60 crore versus Rs 1.16 crore
Net sales were up at Rs 21.52 crore versus Rs 22.95 crore

Jindal Hotels
Net profit was up at Rs 0.48 crore versus Rs 0.34 crore
Net sales were up at Rs 5.01 crore versus Rs 4.24 crore

Panasonic Home Appliances India Company
Net profit was down at Rs 0.26 crore versus Rs 0.34 crore
Net sales were up at Rs 36.83 crore versus Rs 24.04 crore

Akzo Nobel India
Net profit was down at Rs 43.94 crore versus Rs 69.16 crore
Net sales were up at Rs 284.93 crore versus Rs 240.30 crore

HOV Services
Net profit was up at Rs 4.24 crore versus Rs 2.39 crore
Net sales were up at Rs 5.91 crore versus Rs 4.03 crore

Hikal
Net profit was up at Rs 14.73 crore versus Rs 13.31 crore
Net sales were up at Rs 133.18 crore versus Rs 127.24 crore

Deep Industries
Net profit was up at Rs 3.61 crore versus Rs 2.17 crore
Net sales were up at Rs 12.93 crore versus Rs 11.15 crore

Crompton Greaves
Net profit was up at Rs 142.17 crore versus Rs 114.72 crore
Net sales were up at Rs 1,342.91 crore versus Rs 1,173.46 crore

Cheviot Company
Net profit was up at Rs 7.93 crore versus Rs 2.30 crore
Net sales were up at Rs 69.91 crore versus Rs 39.49 crore

Bharat Bijlee
Net profit was up at Rs 5.87 crore versus Rs 4.14 crore
Net sales were down at Rs 105.80 crore versus Rs 113.64 crore

Alkyl Amines Chemicals
Net profit was up at Rs 3.13 crore versus Rs 2.00 crore
Net sales were down at Rs 53.94 crore versus Rs 56.07 crore

BSE Sensex climbs 0.10% on mixed market

The BSE 30-share Sensex was up 17.83 points or 0.10% to 18,130.98, its highest level since 6 February 2008. The Sensex rose 124.41 points at the day's high of 18,237.56 at the onset of the trading session. The index lost 19.22 points at the day's low of 18,093.93 in early afternoon trade.

The S&P; CNX Nifty was up 7.15 points or 0.13% to 5,449.10, its highest level since 5 February 2008. Nifty had struck an intra-day high of 5,477.50 in early trade.

The BSE Mid-Cap index fell 0.31% and the BSE Small-Cap index slipped 0.54%. Both these indices underperformed the Sensex.

Sectoral indices on BSE displayed mixed trend. The BSE Consumer Durables index (up 0.46%), the BSE Capital Goods index (up 0.47%), and the BSE TECk index (up 0.67%), were the top gainers among the sectoral indices on the BSE.

The BSE Healthcare index (down 0.39%), the BSE BSE Metal index (down 0.72%), and the BSE Realty index (down 1.42%), were the worst performers among the sectoral indices on BSE

The total cash segment turnover on BSE amounted to Rs 4883 crore, higher than Rs 4344 crore on Thursday, 22 July 2010.

Market Breadth:

Positive 1201 Negative 1795 Unchanged 85
From the 30 share Sensex pack, 19 fell and rest rose.

Jayshree Tea absorbs dip in net profit at Rs 11.8 crore YoY in Q1 FY11

In the latest development, Jayshree Tea and Industries already declared its first quarter outputs in the financial year 2010-2011 wherein its net profit declined to Rs 11.8 crore as compared to Rs 12.8 crore in the same period last year.

Wipro attains 9.09% rise in consolidated net profit this Q1 FY11

According to Wipro, the firm already declared its consolidated net profit in the first quarter of the financial year 2010-2011 wherein it climbs to Rs 1,319 crore as compared to Rs 1,209.1 crore with an increase of 9.09% in the same period last quarter.

Riddhi Siddhi Gluco aims to achieve Rs 1,000 crore topline in FY11

According to the Managing Director of Riddhi Siddhi Gluco, Ganpatraj Chowdhary, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein its turnover soared 30%. Moreover, it has been aiming to achieve Rs 1,000 crore top-line increase in FY11.

Consumer Care of Wipro attains Rs 641 crore sales in Q1 FY11

In a statement released by the President of Consumer Care and Lighting of Wipro, Vineet Agrawal, the firm already declared its first quarter results in the financial year 2010-2011 wherein its sales was recorded at Rs 641 crore with 13.7% margins.

Phillips Carbon Black Q1 FY11 net profit rose to Rs 28.7 crore YoY

According to the Vice Chairman of Phillips Carbon Black, Sanjiv Goenka, the firm already announced its first quarter outputs wherein its net profit rose to Rs 28.7 crore versus Rs 20.5 crore year-on-year while its net sales soared to Rs 401.8 crore versus Rs 249.9 crore.

Gujarat Gas Company, Ambuja Cements, Hikal, Premier declared results today

Gujarat Gas Company
Net profit was up at Rs 57.8 crore versus Rs 47.8 crore
Net sales were up at Rs 409 crore versus Rs 332 crore

Ambuja Cements
Net profit was up at Rs 391 crore versus Rs 324 crore
Net sales were up at Rs 2,047 crore versus Rs 1,847 crore

Hikal
Net profit was at Rs 14.7 crore
Net sales were at Rs 133 crore

Premier
Net profit was up at Rs 2.45 crore versus Rs 2.21 crore
Net sales were up at Rs 43.77 crore versus Rs 25.09 crore

JSW Steel may accrue Rs 4,900 crore via stake sale

In the latest development, JSW Steel may possibly accumulate Rs 4,900 crore by means of selling its stake wherein JFE of Japan most probably is set to acquire 14.9% stake in JSW Steel for a value of Rs 1,490 every share.

Bajaj Auto obtains 101% rise in Q1 FY11 net profit

According to Bajaj Auto, the firm already declared its first quarter outputs in the financial year 2010-2011 wherein its net profit soared 101% to Rs 590 crore as against Rs 293.4 crore in the same period last year. Moreover, its net sales climbs 60% to Rs 3,737 crore versus Rs 2,337 crore.

V-Guard Industries Q1 FY11 net profit rose to Rs 11 crore YoY

In a statement released by the Executive Director of V-Guard Industries, Mithun Chittilappilly, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein its net profit rose to Rs 11 crore as against Rs 6.9 crore in the same period last year.

Shriram Transport Finance Co attains Rs 289 crore net profit in Q1 FY11

According to the Shriram Transport Finance Company, the firm already announced its first quarter outputs in the financial year 2010-2011 wherein its net profit increased to Rs 289 crore versus Rs 164.4 crore year-on-year. Moreover, its net sales rose to Rs 1,227 crore versus Rs 1,007 crore.

Sangam India attains 246% profit rise in Q1 FY11

According to the Managing Director of the Sangam India, SN Modani, the firm already declared its first quarter outputs in the financial year 2010-2011 wherein it obtains 246% rise in profit to Rs 7.6 crore QoQ. It also attained Rs 170 crore order book and Rs 54 crore export.

Punjab National Bank achieves 28.37% rise in Q1 FY11 net profit YOY

According to the Punjab National Bank or PNB, the banking firm already announced its outputs in the first quarter of the financial year 2010-2011 wherein its net profit increased 28.37% to Rs 1,068 crore as against Rs 832 crore in the same period last year.

Dr Reddy’s Laboratories Q1 FY11 cons net profit dips to Rs 210 crore

In the latest development, Dr Reddy’s Laboratories already announced its quarter one outputs in the financial year 2010-2011 wherein its consolidated net profit declined to Rs 210 crore as compared to Rs 244 crore. Its consolidated revenues also decreased to Rs 1,683 crore as against Rs 1,819 crore.

BSE Sensex climbs 0.76% as only IT dips on upbeat market

The BSE 30-share Sensex surged 135.92 points or 0.76% to 18,113.15 its highest closing since 15 February 2008. The Sensex rose 150.67 points at the day's high of 18,127.90 in late trade. The index lost 97.35 points at the day's low of 17,879.88 in morning trade.

The S&P; CNX Nifty rose 42.60 points or 0.79% to 5,441.95, its highest closing since 5 February 2008.

The total turnover on BSE amounted to Rs 4316 crore, lower than Rs 4600 crore on Wednesday, 21 July 2010.

The BSE Mid-Cap index rose 0.41% and the BSE Small-Cap index rose 0.27%. Both these indices underperformed the Sensex.

Barring the BSE IT index, all the other sectoral indices on BSE rose. BSE Consumer Durables index (up 1.41%), BSE Metal index (up 1.28%), Auto index (up 1.24%), FMCG index (up 0.93%), Realty index (up 0.82%), outperformed the Sensex.

BSE IT index (down 0.13%), Healthcare index (up 0.22%), Oil & Gas index (up 0.5%), BSE Power index (up 0.54%), banking sector index Bankex (up 0.71%), Capital Goods index (up 0.72%), and PSU index (up 0.72%) underperformed the Sensex.

Market Breadth:

Positive 1556 Negative 1373 Unchanged 85
From the 30 share Sensex pack, 25 rose and rest fell.

BSE Sensex surges 0.55% as every sector advances except healthcare

The BSE 30-share Sensex rose 99.09 points or 0.55% to 17,977.23. The Sensex jumped 134.06 points at the day's high of 18,012.20 in early afternoon trade. The index lost 4.22 points at the day's low 17,873.92 in early trade.

The S&P; CNX Nifty rose 31.35 points or 0.58% to 5,399.35.

The BSE Mid-Cap index rose 0.49%. The BSE Small-Cap index rose 0.36%. Both the indices underperformed the Sensex.

Barring the BSE Healthcare index, all the other sectoral indices on BSE rose. The BSE Metal index (up 3.16%), Realty index (up 0.98%), Auto index (up 0.83%), Consumer Durables index (up 0.73%), Oil & Gas index (up 0.71%), Capital Goods index (up 0.68%), IT index (up 0.62%), and PSU index (up 0.61%), outperformed the Sensex. The BSE Power index (up 0.12%), banking sector index Bankex (up 0.04%) and Healthcare index (down 0.27%), underperformed the Sensex.

BSE clocked turnover of Rs 4298 crore, higher than Rs 3838.11 crore on Wednesday, 20 July 2010.

Market Breadth:

Positive 1554 Negative 1364 Unchanged 108
From the 30 share Sensex pack, 19 rose and rest fell.

Engineers India, Hyderabad Industries, Alstom Projects, Yes Bank declared results today

Engineers India
Net profit was up at Rs 40.4 crore versus Rs 18.1 crore
Net sales were up at Rs 1,369 crore versus Rs 988 crore

Hyderabad Industries
Net profit was down at Rs 27.7 crore versus Rs 31.4 crore

Alstom Projects
Net profit was down at Rs 31.5 crore versus Rs 36.7 crore
Net sales were at Rs 346 crore

J Kumar Infraprojects
Net profit was up at Rs 15 crore versus Rs 12.4 crore

Yes Bank
Net profit was up at Rs 156 crore versus Rs 100.07 crore

TVS Motor Company
Net profit was up at Rs 40.4 crore versus Rs 18.1 crore
Net sales were up at Rs 1,369 crore versus Rs 988 crore

Rural Electrification Corporation
Net profit was up at Rs 587.3 crore versus Rs 471.8 crore

Kotak Mahindra Bank
Net profit was up at Rs 327.7 crore versus Rs 257.3 crore

Thermax
Net profit was up at Rs 66 crore versus Rs 46 crore
Net sales were up at Rs 779 crore versus Rs 523 crore

Karur Vysya Bank
Net profit was up at Rs 84.4 crore versus Rs 70.3 crore

Monsanto India
Net profit was up at Rs 58.6 crore versus Rs 52.1 crore
Net sales were down at Rs 202 crore versus Rs 245.2 crore

Prithvi Information Solutions eyes 10-15% growth in FY11

According to the Managing Director of Prithvi Information Solutions, Satish Kumar Vuppalapati, the firm has been looking forward to obtain 10% to 15% revenue increase in the financial year 2010-2011 while nearly 30% to 35% revenue increase in the financial year 2011-2012.

Tulsi Extrusions aims to accrue around Rs 67.5 crore from shares

According to the Chief Financial Officer of Tulsi Extrusions, Sudarshan Taparia, the firm has been planning to accumulate more or less USD 14.35 million or Rs 67.5 crore from the 1.5 million shares with Rs 45 value for every share.

Cinemax India refutes news about targeted financing accumulation

According to the statement made by the Group Chief Financial Officer of Cinemax India, Jitendra Mehta, the firm already refuted news about its aim of accruing financing since its principal expenditure for this current financial year will only be Rs 35-40 crore.

Parabolic Drugs achieves soaring Rs 10.5 crore net profit in Q1 FY11

According to the Executive Director of Parabolic Drugs, Vineet Gupta, the firm already declared its quarter one outputs in the financial year 2010-2011 wherein its net profit soared to Rs 10.5 crore as against Rs 7.7 crore in the same period last year.

Nokia Siemens obtains USD 7 billion pact in United States

In the latest development, Nokia Siemens Networks or NSN already obtained a deal until 2018 with a value of above USD 7 billion in the United States wherein the firm is scheduled to construct and manage broadband wireless network for the latest LightSquared project of Harbinger Capital Partners.

Adani Enterprises to accrue utmost USD 850 million through QIP

In the latest development, Adani Enterprises, a firm that focuses in coal mining as well as energy production, already introduced selling of its shares to institutional investors to accrue utmost USD 850 million wherein QIP is valued USD 600 million with a choice to raise it by USD 250 million.

Dhanalakshmi Bank accrues Rs 380 crore through QIP

According to the statement made by the Managing Director and Chief Executive Officer of Dhanalakshmi Bank, Amitabh Chaturvedi, the banking firm lately accumulated Rs 380 crore by means of QIP or qualified institutional placement with a value of Rs 181.30 every share.

Orchid Chemicals Q1 FY11 net sales slightly dips to Rs 303 crore YOY

In a statement released by the Managing Director of Orchid Chemicals, K Raghavendra Rao, he revealed that the firm already declared its first quarter outputs in the financial year 2010-2011 wherein its net sales slightly dipped to Rs 303 crore versus Rs 306 crore year-on-year.

Compton Greaves obtains 5% increase in consolidated sales YOY in Q1 FY11

According to the Managing Director of Compton Greaves, SM Trehan, the firm already declared its quarter one outputs in the financial year 2010-2011 wherein its consolidated sales rose 5% to Rs 2,302.2 crore versus Rs 2,197.5 crore in the same period last year.

Hindustan Media Ventures attains Rs 177.95 listing price

In the latest development, the unit of the newspaper publication firm HT Media, Hindustan Media Ventures, attained a listing price of Rs 177.95 during the day wherein the value was 7.2% above its Rs 166 public issue price on the NSE.

Rs 300 crore eyed by Compact Disc from Commonwealth Games order

According to the Chairman of Compact Disc India, Suresh Kumar, the firm, which focuses on films as well as television serials, has been looking forward to obtain full amount of Rs 300 crore revenue which will come from Commonwealth Games order.

Adani Enterprises introduces selling of shares to accrue USD 850 million

In a statement released by Adani Enterprises, the firm has announced that it already introduced selling of shares to institutional investors in order to accumulate utmost USD 850 million wherein the Rs 536.15 per share is the sale floor price.

Dhanlaxmi Bank targets Rs 9,000 crore in advances by end of FY11

According to the Managing Director and Chief Executive Officer of Dhanlaxmi Bank, Amitabh Chaturvedi, the firm has been looking forward to obtaining advances to reach Rs 9,000 crore by the conclusion of the financial year 2010-2011 this coming March 2011.

Sterling Tools, SIL Investments, Sakuma Exports, Rane Madras declared results today

Sterling Tools
Net profit was up at Rs 3.75 crore versus Rs 0.83 crore
Net sales were up at Rs 54.08 crore versus Rs 38.43 crore

SIL Investments
Net profit was up at Rs 0.66 crore versus Rs 0.13 crore
Net sales were down at Rs 2.73 crore versus Rs 3.05 crore

Sakuma Exports
Net profit was down at Rs 0.13 crore versus Rs 1.09 crore
Net sales were down at Rs 20.30 crore versus Rs 132.28 crore

State Bank of Mysore
Net profit was up at Rs 111.39 crore versus Rs 82.19 crore

Rane Madras
Net profit was up at Rs 4.61 crore versus Rs 1.79 crore
Net sales were up at Rs 131.54 crore versus Rs 91.88 crore

PAL Credit and Capital
Net sales were down at Rs 0.04 crore versus Rs 1.96 crore

Karuturi Global
Net profit was down at Rs 0.26 crore versus Rs 5.22 crore
Net sales were down at Rs 5.48 crore versus Rs 5.63 crore

Intellivate Capital Ventures
Net profit was up at Rs 0.92 crore versus Rs 0.04 crore
Net sales were ups at Rs 1.42 crore versus Rs 0.06 crore

Automotive Stampings and Assemblies
Net profit was at Rs 1.81 crore
Net sales were up at Rs 128.52 crore versus Rs 83.86 crore

Escorts
Net profit was up at Rs 45.84 crore versus Rs 22.22 crore
Net sales were up at Rs 810.85 crore versus Rs 583.44 crore


Capital Trust
Net profit was at Rs 0.22 crore
Net sales were up at Rs 1.54 crore versus Rs 0.58 crore

Softech Infinium Solutions
Net profit was at Rs 0.01 crore versus Rs 0.01 crore
Net sales were up at Rs 1.04 crore versus Rs 0.71 crore

Panacea Biotec
Net profit was up at Rs 32.6 crore versus Rs 13 crore
Net sales were up at Rs 254 crore versus Rs 177 crore

JK Paper
Net profit was up at Rs 29.1 crore versus Rs 20.2 crore
Net sales were up at Rs 291 crore versus Rs 261 crore

Sonata Software
Net profit was down at Rs 18.2 crore versus Rs 18.8 crore

Omnitech Infosolutions
Net profit was at Rs 13.6 crore

Parabolic Drugs
Net profit was up at Rs 10.5 crore versus Rs 7.7 crore
Net sales were up at Rs 127.5 crore versus Rs 104.4 crore

Automotive Axles
Net profit was up at Rs 14.5 crore versus Rs 2.7 crore
Net sales were up at Rs 196 crore versus Rs 65.9 crore

Aventis Pharma
Net profit was down at Rs 42.4 crore versus Rs 47.1 crore
Net sales were up at Rs 271.5 crore versus Rs 249.9 crore

Container Corporation of India
Net profit was down at Rs 194 crore versus Rs 201 crore
Net sales were up at Rs 916 crore versus Rs 907 crore

BSE sensex plunges 0.28% as healthcare, auto lead slump

The BSE 30-share Sensex fell 50.28 points or 0.28% to 17,878.14. The Sensex rose 111.75 points at the day's high of 18,040.17 in early trade. The index lost 80.35 points at the day's low 17,748.07 in late trade.

The S&P; CNX Nifty fell 18.45 points or 0.34% to 5,368.

The BSE Mid-Cap index fell 0.3% and underperformed the Sensex. The BSE Small-Cap index fell 0.26% and outperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Healthcare index (down 0.9%), Auto index (down 0.69%), banking sector index Bankex (down 0.43%), Oil & Gas index (down 0.37%), and PSU index (down 0.34%), underperformed the Sensex. The BSE Realty index (up 1.31%), Metal index (up 0.2%), Capital Goods index (up 0.04%), Power index (down 0.1%), FMCG index (down 0.2%), IT index (down 0.23%) and Consumer Durables index (down 0.23%), outperformed the Sensex.

BSE clocked turnover of Rs 3809 crore, higher than Rs 3728.19 crore on Monday, 19 July 2010.

Market Breadth:

Positive 1284 Negative 1654 Unchanged 89
From the 30 share Sensex pack, 20 fell and rest rose.

Autoline Industries eyes Rs 125 crore from selling 100 acres in Chakan land

According to the Joint Managing Director of Autoline Industries, M Radhakrishnan, the firm has been planning to attain until 2015 a value of Rs 125 crore revenue yearly from trading straight the township venture as well as 100 acres Chakan land while Rs 75-100 crore if in contrast.

Nalco increases costs of aluminum merchandise by Rs 3,500 per tonne

According to the Director of Finance of Nalco, BL Bagra, the firm already increased its costs for aluminum merchandise by Rs 3,500 every tonne wherein he predicted a slight and slow increase in costs. The anticipated price band every tonne in the coming three to six months is USD 2,000-2,200.

PTC India under negotiations with PE firms to sell stake in its subsidiary

In a statement released by the Chairman and Managing Director of the energy trading firm PTC India, he announced that the firm has been under negotiations with independent equity companies to sell its stake in PTC India Financial Services, its subsidiary.

Kernex Microsystems eyes Rs 130-150 crore turnover in FY11

According to the Managing Director of Kernex Microsystems, Colonel LV Raju, the firm has been looking forward to obtain Rs 130 crore to Rs 150 crore turnover in the financial year 2010-2011 wherein revenues will come from Egyptian railways venture, North Frontier railway and added gates.

NIIT Technologies declares consolidated net sales at Rs 291 crore in Q1 FY11

According to the Chief Executive Officer of NIIT Technologies, Arvind Thakur, the firm already announced its quarter one outputs in the financial year 2010-2011 wherein the firm attained consolidated net sales of Rs 291 crore while its consolidated net profit was at Rs 40.8 crore.

Kavveri Telecom to accrue Rs 60-70 crore fund for buying businesses abroad

In a statement released by the Managing Director of Kavveri Telecom, C Shiva Kumar Reddy, the conglomerate has been planning most probably to accumulate nearly Rs 60-70 crore in which the accrued fund is aimed to be used for buying two businesses abroad.

Geodesic seals tactical pact with Zee for mobile entertainment service

According to Geodesic Ltd this Tuesday, the firm already sealed a tactical pact with Zee Entertainment Enterprises in order to introduce in the market its merger unit ITM Digital Private Ltd. This joint venture entity will focus on synchronized entertainment applications for cellular service.

Nokia Siemens Networks to acquire infra assets unit of Motorola

In the latest development, Nokia Siemens Networks has already sealed a deal with Motorola, Inc. this day that it is set to buy most of the shares in the wireless network infrastructure assets of Motorola for a value of USD 1.2 billion.

Fortis Healthcare Holdings commits 33 million shares

According to the statement released by Fortis Healthcare this Tuesday, Fortis Healthcare Holdings already committed 33 million shares or 37.78% of the entire equity shares of this founder conglomerate last July 9, 2010. Moreover, Fortis Healthcare is being sponsored by Malvinder Singh.

Adani Group looms to purchase Deccan Chargers

According to Adani Group, it has been aiming to include to its growing list of companies one more subsidiary as it looms to purchase the IPL league, which is the Deccan Chargers for the amount of USD 280-300 million. Moreover, Deccan Chronicle owns 80% stake in Deccan Chargers at present.

Hindustan Media Ventures schedules July 21 as listing date

In the latest development, Hindustan Media Ventures or HMV already scheduled the listing of its equity shares in July 21, 2010 wherein the firm set the cost for the issue to the amount of Rs 166 per share. Moreover, the price range for this issue for every share stands at Rs 162-175.

Crompton Greaves, Eskay Knit, Shiva Cement, Nava Bharat Ventures declared results today

Crompton Greaves
Net profit was up at Rs 191 crore versus Rs 160 crore
Net sales were up at Rs 2,302 crore versus Rs 2,197 crore

Sunflag Iron and Steel Company
Net profit was up at Rs 25.9 crore versus Rs 16 crore

Eskay Knit
Net profit was up at Rs 2.89 crore versus Rs 2.74 crore
Net sales were up at Rs 226.24 crore versus Rs 186.12 crore

Suryalakshmi Cotton Mills
Net profit was at Rs 7.29 crore
Net sales were up at Rs 129.22 crore versus Rs 84.39 crore

Shiva Cement
Net profit was up at Rs 1.42 crore versus Rs 0.57 crore
Net sales were up at Rs 14.05 crore versus Rs 9.03 crore

State Bank of Travancore
Net profit was down at Rs 149.80 crore versus Rs 179.59 crore

Onward Technologies
Net sales were at Rs 10.71 crore

Nava Bharat Ventures
Net profit was down at Rs 105.53 crore versus Rs 136.38 crore
Net sales were down at Rs 289.79 crore versus Rs 356.78 crore

Vardhman Textiles
Net profit was up at Rs 78.21 crore versus Rs 39.91 crore
Net sales were up at Rs 811.20 crore versus Rs 624.14 crore

Key Corporation
Net profit was down at Rs 0.09 crore versus Rs 0.11 crore
Net sales were up at Rs 0.24 crore versus Rs 0.23 crore

IRDA approves L&T;’s unit to market in general insurance segment

In the latest development, IRDA or Insurance Regulatory and Development Authority, already approved Larsen & Tubro or L&T; to embark on the general insurance segment as the 24th conglomerate in the business by means of the firm’s unit known as L&T; General Insurance Company.

Indowind absorbs decline in net profit at Rs 3.13 crore in Q1 FY11

In a statement released by the Chairman of Indowind Energy, KV Bala, the firm already declared its first quarter outputs in the financial year 2010-2011 wherein its net profit dipped to Rs 3.13 crore as against Rs 7.06 crore in the same period last financial year.

IRB Infra eyes 76 ventures from NHAI in FY11

According to the Chairman and Managing Director of IRB Infrastructure, VD Mhaiskar, the firm already received 38 ventures in the previous year from NHAI. Moreover, it has been eyeing to obtain around 76 ventures this financial year with a value range of Rs 70,000-75,000 crore.

Bharti to seal deal with Apple Inc to sell iPhone 4 in India

In a statement released by the Chief Executive Officer of Bharti Airtel for India and South Asia, the firm has been under negotiations with Apple Inc in order to begin putting on sale its iPhone 4 in India wherein the target month for this venture may possibly be in two to three months.

Bafna Pharmaceuticals targets 30-40% increase in top-line this FY11

According to the Chairman and Managing Director of Bafna Pharmaceuticals, Bafna Mahaveer, the firm has been eyeing to obtain more or less 30-40% increase in top-line in the financial year 2010-2011 wherein a gross turnover of Rs 100 crore this current year is being targeted.

262 million euros net profit attained by Philips in Q2 FY11

According to the Chief Executive Officer of Philips, Gerard Kleisterlee, the firm obtains intensified results in sales in the advancing sectors. Moreover, the firm’s net profit stood at 262 million euros while its sales reached 6.2 billion euros in the second quarter of the financial year 2010-2011.

Subros Ltd targets Rs 1,200 crore FY11 revenues

In a statement released by the Managing Director of Subros Ltd, Shradha Suri Marwah, he revealed that the firm has been targeting Rs 1,200 crore or Rs 12 billion revenues in the financial year 2010-2011 as well as 4-5% PBT or profit before tax.

ICICI Bank’s unit IPO not to be launched this FY11

According to the Managing Director and Chief Executive Officer of ICICI Bank, Chanda Kochhar, she has been looking forward that this banking firm, the top-two lending firm in India, will cross 20% credit increase in the current financial year 2010-2011. The IPO of its unit ICICI Securities will not be launched in FY11.

Suryalakshmi Cotton declares Q1 FY11 profit crosses Rs 7.2 crore

In a statement released by the Chairman and Managing Director of Suryalakshmi Cotton, LN Agarwal, he revealed that the firm already announced that its profit reached nearly Rs 7.2 crore in the first quarter of the financial year 2010-2011 versus a loss of almost Rs 4.5 crore before.

Rs 300 crore FY11 revenue targeted by Compact Disc

According to Compact Disc India Ltd, it has been looking forward to attain revenue of more than Rs 300 crore in the financial year 2010-2011. Moreover, Premium Brands Private Ltd, its group conglomerate, was already assigned to become the primary licensee for trading scheme of the Commonwealth Games 2010.

Escorts declares 33% rise YOY in top-line in Q1 FY11

In a statement released by the Chairman of Escorts, Rajan Nanda, he revealed that the firm’s top-line this quarter of the current financial year rose 33% to a value of Rs 2,100 crore as compared to Rs 1,500 crore in the same period last financial year.

BSE Sensex dips 0.15% as almost all sectors drop

The BSE 30-share Sensex fell 27.40 points or 0.15% to 17928.42. The Sensex rose 49.25 points at the day's high of 18,005.07 in mid-morning trade. The index lost 99.42 points at the day's low 17,856.40 in early trade.

The S&P; CNX Nifty fell 7.45 points or 0.14% to 5386.45.

The BSE Mid-Cap index rose 0.2%. The BSE Small-Cap index rose 0.14%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE declined. The BSE FMCG index (down 1.4%), Realty index (down 0.94%), Consumer Durables index (down 0.68%), Oil & Gas index (down 0.34%), Healthcare index (down 0.33%), IT index (down 0.31%), Auto index (down 0.24%), and Power index (down 0.24%), underperformed the Sensex.

BSE PSU index (up 0.75%), banking sector index Bankex (up 0.25%), Capital Goods index (up 0.22%) and Metal index (up 0.12%), outperformed the Sensex.

BSE clocked turnover of Rs 3705 crore, lower than Rs 4307.85 crore on Friday, 16 July 2010.

Market Breadth:

Positive 1514 Negative 1426 Unchanged 84
From the 30 share Sensex pack, 19 fell and rest rose.

India’s exports in June increases 30% year-on-year: Rahul Khullar

According to the Trade Secretary, Rahul Khullar, he already announced that the exports in India last June soared a yearly 30% to an amount of USD 17.75 billion starting November last year. Moreover, the nation’s imports heightened 23% to a value of USD 28.3 billion year-on-year.

Birla Sun Life Asset Management adds exposure in engineering, media, auto

In the latest development, Birla Sun Life asset management Company has witnessed selling pressure in the sectors of IT, cement & construction along with manufacturing. However, the firm attained significant attention from buyers in segments of engineering & capital goods, media & entertainment and automotive.

Midfield Industries IPO Review

Midfield Industries Ltd (MIL) was originally incorporated under the name “Midfield Steels Pvt. Ltd” in 1990 and subsequently converted to a Public limited company on July 7, 2010. MIL is one of the organized players in packaging industry catering to the demand for Industrial packaging consumables in India.

MIL provides packaging consumables like high tensile steel strapping in various dimensions and strengths, Seals for different applications, Collated Nails & Corner boards being used for general and the end of line packaging of goods by varied industries. The company also provides comprehensive end to end packaging solutions to customers at their locations which enable them to focus on their core products and competencies.

Post issue Promoters and Promoter groups shareholding will reduce to 51.77% from existing 79.76%.

Issue Objectives  

• Expansion of existing manufacturing facility at Hyderabad, Mumbai, Roorkee
• Setting up new facility for manufacture of VCI Paper at Hyderabad and manufacturing High Tensile Steel Strapping and seals
• Augmenting long term working capital requirement
• General Corporate Purposes 

Midfield Industries Limited IPO Grading / Rating Brickwork Ratings India has assigned an IPO Grade 2 indicating poor fundamentals.

Issue Open: July 19, 2010 - Jun 21, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 4,500,000 Equity Shares of Rs 10 Issue Size: Rs. 56.70 to 59.85 Crore


Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 126 - Rs. 133 Per Equity Share
Market Lot: 50 Shares
Minimum Order Quantity: 70 Shares
Listing At: BSE

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