Radico Khaitan, KPIT Cummins Infosystems, Bank Of Baroda, Talwalkars declared results today

Radico Khaitan
Net profit was up at Rs 18.8 crore versus Rs 9.7 crore
Net sales were up at Rs 227.6 crore versus Rs 187 crore

KPIT Cummins Infosystems
Net profit was up at Rs 23.79 crore versus Rs 23 crore
Net sales were up at Rs 234.9 crore versus Rs 193.1 crore

Bank Of Baroda
Net profit was up at Rs 1,019.3 crore versus Rs 634.18 crore

Talwalkars
Net profit was up at Rs 5.9 crore versus Rs 2.9 crore
Net sales were up at Rs 31.7 crore versus Rs 23.1 crore

Federal Bank
Net profit was at Rs 140 crore

Nirma
Net profit was down at Rs 23.6 crore versus Rs 79.3 crore
Net sales were up at Rs 782.4 crore versus Rs 750.1 crore

Shipping Corporation of India
Net profit was at Rs 250.6 crore
Net sales were at Rs 876.4 crore

Gillette India
Net profit was up at Rs 42.9 crore versus Rs 38.3 crore
Net sales were up at Rs 247 crore versus Rs 177 crore

Kansai Nerolac Paints
Net profit was up at Rs 53.6 crore versus Rs 53 crore
Net sales were up at Rs 533 crore versus Rs 448.8 crore

Nestle India
Net profit was up at Rs 218 crore versus Rs 183 crore
Net sales were up at Rs 1,637 crore versus Rs 1,302 crore

BSE Sensex rises 0.46% as oil & gas, FMCG, banking lead upsurge

The BSE 30-share Sensex was up 91.30 points or 0.46% to 20,032.34. The Sensex jumped 139.29 points at the day's high of 20,080.33 in late trade. The index lost 172.08 points at the day's low of 19,768.96 in mid-afternoon trade.

The S&P CNX Nifty was up 30 points or 0.50% to 6,017.70. The Nifty oscillated between 6,032.65 and 5,937.10 during the day.

The total turnover on the BSE amounted to Rs 4981 crore, lower than Thursday's turnover of Rs 5373.44 crore

Sectoral indices on the BSE displayed mixed trend. The BSE Oil & Gas index (up 0.69%), the BSE FMCG index (up 1.30%), and the Bankex (up 1.52%), outperformed the Sensex. The BSE Power index (down 0.89%), the BSE Metal index (down 1.31%), and the BSE Realty index (down 1.16%) underperformed the Sensex.

Infrastructure (down 2.28%), DLF (down 1.80%), and Jaiprakash Associates (down 1.72%), edged lower from the Sensex pack.

Market Breadth:

Positive 911 Negative 2156 Unchanged 69
From the 30 share Sensex pack, 18 fell and rest rose.

Career Point CEO spoke about economic downturn in 2008

Even though the economic downturn in 2008 had a bad affect in the corporate world it would have taught a very important lesson to CXOs in dealing with the complexity of changing business dynamics. CEO of Career Point spoke about the realities of this change.

Plan to set up 1200 MW power plant says Petronet LNG

Petronet LNG expects to install 1,200 MW gas-based power plant at its gas terminal in Gujarat and also join oil marketing companies for retail foray. CEO and MD of company AK Balyan said gas and power business can team-up as there will be no transportation costs or VAT applicable.

Will honor deadline for IFRS Accounting System says TV Mohandas Pai

There has been discussions and forth between Finance Ministry and Ministry of Corporate Affairs (MCA) during past days as using IFRS Accounting System from April 1, 2011 raised doubts about meeting deadline. But TV Mohandas Pai says deadline will be honored. Salman Khurshid said we should stay with the date.

E-Land Fashion China Holdings Ltd offer launched

SBI Capital Markets said E-Land Fashion China Holdings Ltd will introduce a offer to purchase around 26.67% share capital of Mudra Lifestyle with cost of Rs 60/share, offer opens from Dec-15 till Jan-3. Mudra Lifestyle sold 12 million shares to E-Land Fashion China Holdings at same price on Oct-18.

Tata Motors star stock in the last 1 year

Tata Motors had a star stock during last 1 year even though few years back there were fear when Jaguar-Land Rover acquisition happened which caused a big turnaround story. Tata Motors have performed well to turn that operation around including from a topline and profitability perspective, a reason for this.

Approved a share split from Rs 10 to Rs 2 says Urja Global

Urja Global Ltd has decided a share split of existing equity shares of Rs 10 each into Rs 2 each, subject to necessary approval and Vivek Agrawal been selected as CEO-Corporate Strategy Planning of the Company from September 20. The company informed to BSE after its BOD meeting on October 28.

Talwalkars announced its Q2 results

Talwalkars has announced its second quarter results with a net profit at Rs 5.9 crore versus Rs 2.9 crore and net sales were at Rs 31.7 crore versus Rs 23.1 crore. CFO of this Fitness centre said about the results and his forecast for the company.

Strong quarter results says Bank of Baroda

Bank of Baroda has announced strong results for its quarter ended September 2010. The net profit was Rs 1019.3 crore versus Rs 634.18 crore, a growth of 60.73% YoY and net interest income (NII) has increased by 46.78% to Rs 2038.14 crore versus Rs 1388.6 crore YoY said CMD of BoB MD Mallya.

KPIT Cummins announced its quarter results

KPIT Cummins has announced its results for the quarter ended September 2010. The revenues were Rs 234.9 crore versus Rs 193.1 crore on a sequential basis and net profit was Rs 23.79 crore versus Rs 23 crore QoQ. It has also included 609 employees, 3 new clients in this quarter.

Special cash support measures introduced by RBI

RBI has revealed an special liquidity measures to tide banks over temporary cash crunch. The banks can avail funds under this option with additional 1% of their deposits said RBI and it will also hold 2 liquidity adjustment facility(LAF) auctions on 29-October and 1-November at 2:30 and 4:15 pm.

Expect order book to reach Rs 25,000 crore says HCC

The Hindustan Construction Co chief financial officer said order book of the company may reach Rs 25,000 crore by the end of this FY. The company had received a contract worth Rs 1,178 crore in the September quarter has an order book of Rs 19,735 crore now.

Radico Khaitan second quarter results announced

Radico Khaitan has announced its second quarter results. Its combined net profit was Rs 18.8 crore versus Rs 9.7 crore and its revenue was Rs 227.6 crore versus Rs 187 crore.CMD of Radico Khaitan, Lalit Khaitan said all the latest happenings in the company.

BSE Sensex plummets 0.32% as every sector in downbeat mode

The BSE 30-share Sensex was down 64.33 points or 0.32% to 19,941.04. The Sensex lost 136.05 points at the day's low of 19,869.32 in late trade. The index rose 180.09 points at the day's high of 20,185.46

The S&P CNX Nifty was down 24.95 points or 0.41% to 5,987.70. Nifty had dropped to the day's low of 5,968.10 in late trade after striking day's high of 6,071.10 in mid-afternoon trade.

The total turnover on BSE amounted to Rs 5319 crore, lower than Wednesday's Rs 5899 crore. Turnover in NSE's futures & options (F&O) segment surged to a staggering Rs 252504.79 crore from Rs 206567.50 crore on Wednesday, 27 October 2010, as traders rolled over positions from the near-month October 2010 series to November 2010 series.

The BSE Mid-cap index fell 0.64% and the BSE Small-cap index was down 0.53%. Both these indices underperformed the Sensex.

Except the BSE Auto index, all the other sectoral indices on BSE fell. Auto index (up 0.25%), Teck index (down 0.13%) outperformed the Sensex.

Realty index (down 1.72%), Consumer Durables index (down 1.51%), Power index (down 1.08%), Metal index (down 0.85%), PSU index (down 0.75%), Healthcare index (down 0.68%), FMCG index (down 0.67%), banking sector index Bankex (down 0.61%), Capital Goods index (down 0.54%), Oil & Gas index (down 0.46%) and IT index (down 0.42%) underperformed the Sensex.

Market Breadth:

Positive 1187 Negative 1815 Unchanged 90
From the 30 share Sensex pack, 22 fell and rest rose.

Sanofi stays with Genzyme offer, increases target for the year

Sanofi-Aventis reprised its 18.5 billion offer for Genzyme presented good value as better than expected quarterly earnings permitting it to increase target. Executive of Genzyme started a search to display US biotech group is worth above $69/share offered by Sanofi, their 2011 earnings showed value can be $89/share.

Firstsource Solutions announces second quarter results

Firstsource Solutions has announced its second quarter results for FY11. The combined net profit was Rs 33.2 crore versus Rs 32.1 crore QoQ and consolidated revenue was Rs 490 crore versus Rs 475.9 crore QoQ. Firstsource Solutions MD & CEO Mathew Vallance said all the details about the second quarter.

Two consortiums filed final bids for Port of Brisbane

Two consortiums have made final bids in $2 billion-plus sale for Port of Brisbane and a buyer may be selected next week. One of the bids include consortium of US-based investment fund Global Infrastructure Partners, state government arm Queensland Investment Corp, Macquarie Capital.

Punjab National Bank posts 16% increase in July-September net profit

Chairman of Punjab National Bank Ltd KR Kamath said the bank may find it difficult to sustain margins at current levels and there is pressure on deposits at present. The bank informed a 16% increase in July September net profit.

Varun Industries announces its Q2 results

Varun Industries plans to start 2 new companies in Singapore and Dubai incorporated as wholly owned subsidiaries of Varun Holdings Limited. The sales turnover was Rs 885.82 crore, net profit was Rs 12.39 crore for quarter ended September-2010. The sales turnover was Rs 302.39 crore, net profit was Rs 4.63 crore in September-2009.

Crompton Greaves expects 15% revenue growth

Crompton Greaves expects around 15% revenue growth during the financial year 2010-2011. The CFO of Crompton Greaves Madhav Acharya who also was a recipient of CFO of the Year awards in capital goods sector informed all the latest happenings in the company.

Expect Rs 20-30 crore from Udhampur plant says Insecticides India

CFO of Insecticides India, Sandeep Agarwal, said after completeing trial production near Udhampur plant at J&K they are waiting for approval from the government to start commercial production and he expects this to increase capacity by another 30%. After approval he expects Rs 20-30 crore contribution from their unit in the current financial year.

Kewal Kiran Clothing announces its quarter results

Kewal Kiran Clothing announces results for its quarter ended September 2010. The quarter's net sales was Rs 72.46 crore versus Rs 57.25 crore last year same time and net profit was Rs 15.01 crore versus Rs 11.47 crore YoY. CMD of the company Kewal Jain said the details about the quarter.

Order signed worth $10 billion says Shanghai Electric

Reliance Power signs an order worth $10 billion with Shanghai Electric for around 30,000 megawatts of power which is 42 units of 660 MW each. Both will install supercritical equipment manufacturing unit. A MoU is signed by Reliance Power for $12 billion in financing with Bank of China, etc.

Monnet Ispat announces its Q2 results

Monnet Ispat has declared the results for its quarter ended September 2010. The Q2 net profit was Rs 65 crore versus Rs 64.2 crore last year same time and net sales was Rs 360 crore versus Rs 314 crore last year. Group CFO, Ajay Bhat said all the latest happenings in the company.

Whirlpool India announces its quarter results

Whirlpool India has announced the results for its quarter ended September 2010 and their net profit was at Rs 30.5 crore versus Rs 25 crore, 25% increase and net sales was 27% increased to Rs 561 crore from Rs 471 crore. Whirlpool Corporation's Shantanu Dasgupta said all the latest happenings in the company.

Expect to repay $1 billion says Bharti Airtel

Bharti Airtel prepared to repay $1 billion out of total $7 billion debt taken during Zain acquisition. Manik Jhangiani said they have structured debt financing and also aware that they had pre-payment flexibility as business is mainly free cash flow positive and produces more amount of free cash flow.

BSE Sensex declines 1.07% on dismal market trading

The BSE 30-share Sensex was down 216.02 points or 1.07% to 20,005.37. The Sensex lost 297.68 points at the day's low of 19,923.71 in mid-afternoon trade. The index fell 0.81 points at the day's high of 20,220.58 in early trade.

The S&P CNX Nifty was down 69.35 points or 1.14% to 6,012.65. Nifty hit a low of 5,987.55 in mid-afternoon trade.

BSE clocked turnover of Rs 4439 crore, lower than Rs 4959.49 crore on Tuesday, 26 October 2010.

Market Breadth:

Positive 1219 Negative 1759 Unchanged 90
From the 30 share Sensex pack, 22 fell and rest rose.

Oil minister says ONGC interest will be safe in Cairn-Vedanta deal

The government prepares to resolve Cairn-Vedanta deal which begun with controversy. Murli Deora, union oil minister, said interest of ONGC will be protected here and ONGC claims its approval is required in Cairn-Vedanta deal as it holds 30% interest in Rajasthan block, which is a portion of the deal.

RBI Governor says foreign exchange intervention has costs

Duvvuri Subbarao, the RBI Governor, said foreign exchange intervention to stem sharp appreciation in currencies involves costs. Purchasing dollars includes liquidity to the banking system enhancing inflation. He also said the changing resultant liquidity can increase interest rates attracting more inflows.

ONGC still in talks with PetroVietnam

S. Sundareshan, Oil Secretary, said ONGC is still in talks with PetroVietnam on obtaining BP Plc's Vietnam assets and they will work jointly with PetroVietnam. He said they know PetroVietnam has sold their stake to one of their affiliates which led them to inform to ONGC Videsh to approach PetroVietnam.

Asian Paints announces interim dividend at Rs 8.50 per share

Asian Paints Ltd has announced an interim dividend at Rs 8.50 per equity share of Rs 10 each for the financial year ending March 31, 2011. The company among other things has informed this to BSE after its BOD meeting conducted on October 27, 2010.

Interim dividend at 50% says Dabur India Ltd

The interim dividend of Dabur India Ltd has been announced at 50% which is Re 0.50 per share having face value of Re 1/- each on the equity shares of the company for FY 2010-11. The company informed this to BSE after its BOD meeting conducted on October 27, 2010.

Interim dividend at Rs 2.50 says Shriram Transport Finance

The interim dividend of Shriram Transport Finance Company Limited has been announced at Rs 2.50 which is 25% per equity share. The company among other things has informed this to the Exchange after its BOD meeting conducted on October 27, 2010.

HCL Infosystems announced its combined net profit and sales

HCL Infosystems announced a decrease in combined net profit at Rs 47.5 crore for quarter-ended September versus Rs 59 crore last year at same time. The combined net sales also reduced at Rs 2,959.4 crore versus Rs 2,999 crore, year-on-year. CEO of HCL Infosystems Harsh Chitale informed the latest happenings in the company.

Accrued Rs 240 crore through QIP says Kiri Dyes

Kiri Dyes accrued Rs 240 crore through qualified institutional placement (QIP) and it also issued 40 lakh shares priced at Rs 597 per share. The QIP received huge response from domestic and global investors and the company will use proceeds for capex including a portion of it planned for repayment of debt.

Patni Computer Systems eyes company in Europe or Asia Pacific

Patni Computer Systems plans to purchase a company in Europe or Asia Pacific for $50-200 million. The company which follows a Jan-December FY provides insurance, telecom, energies and utilities and retail to industries, had cash and cash equivalents of $317.8 million at September quarter end.

Listed at Rs 75 and stock increased by 58.5% says Gyscoal Alloys

Gyscoal Alloys has listed at Rs 75.15 versus issue price of Rs 71/share on NSE, stocks reached high of Rs 112.50 during early trade, increase of 58.45%. Shares were trading at Rs 103.85, with volume of 77.5 lakh shares on NSE and they expect sales of Rs 300-400 crore in FY11, EPS at Rs 18-20.

Prestige Estates Projects opened at Rs 190/share on NSE

Shares of Prestige Estates Projects reached high of Rs 208.80, low of Rs 189.85 during early trade after opening at Rs 190/share on NSE. Shares were trading at Rs 193.50 versus issue price Rs 183, with volume of 73.66 lakh shares. Shares were trading at Rs 193.60, with volume of 49.39 lakh shares on BSE.

Expect Rs 900 crore revenues, Rs 60 crore PAT in FY11 says BS Transcomm

Chairman, MD of BS Transcomm Rajesh Agrawal said company will collect around Rs 900 crore in revenues in current FY and also expects net profit of Rs 60-65 crore in FY11. The business model made of telecom and power space including managed services and technology business would help to achieve this.

BSE Sensex decreases 0.47% as market in downturn

The BSE 30-share Sensex was down 94.72 points or 0.47% to 20,165.86. The Sensex rose 91.16 points at the day's high of 20,351.74 in early trade. The index fell 171.91 points at the day's low of 20,088.67 in mid-afternoon trade.

The S&P CNX Nifty was down 35.45 points or 0.58% to 6,066.05.

BSE clocked turnover of Rs 5833 crore, higher than Rs 4822.09 crore on Thursday, 21 October 2010.

Market Breadth:

Positive 1403 Negative 1632 Unchanged 81
From the 30 share Sensex pack, 22 fell and rest rose.

FAG Bearings India, Ipca Laboratories, Chennai Petroleum Corporation, NIIT declared results today

FAG Bearings India
Net profit was up at Rs 31.4 crore versus Rs 16.5 crore
Net sales were up at Rs 270 crore versus Rs 204 crore

Ipca Laboratories
Net profit was up at Rs 94 crore versus Rs 63.9 crore
Net sales were up at Rs 514 crore versus Rs 429 crore

Chennai Petroleum Corporation
Net profit was down at Rs 98 crore versus Rs 139 crore
Net sales were up at Rs 8,122.2 crore versus Rs 6,997.1 crore

NIIT
Net profit was up at Rs 28.5 crore versus Rs 26.2 crore
Net sales were down at Rs 346 crore versus Rs 359.8 crore

Geometric
Net profit was up at Rs 13.8 crore versus Rs 13.5 crore
Net sales were up at Rs 152 crore versus Rs 135.4 crore

Ajanta Pharma
Net profit was up at Rs 10 crore versus Rs 6.4 crore
Net sales were up at Rs 112 crore versus Rs 94.6 crore

JSL Stainless
Net profit was up at Rs 64.6 crore versus Rs 62.7 crore
Net sales were up at Rs 1,736 crore versus Rs 1,328 crore

JSL Stainless
Net profit was up at Rs 53.1 crore versus Rs 29.6 crore
Net sales were up at Rs 289 crore versus Rs 261 crore

Binani Cement
Net profit was down at Rs 1 crore Rs 101 crore
Net sales were DOWN at Rs 340 crore versus Rs 430 crore

Bank of India
Net profit was up at Rs 617 crore versus Rs 323.3 crore

Wipro informs net profit and revenues

Wipro has informed the combined net profit at Rs 1,284.9 crore versus Rs 1,318.6 crore less by 2.56% on quarter-on-quarter basis (QoQ) and combined revenues during the same time was at Rs 7,730.5 crore versus Rs 7,236.4 crore which is a growth of around 6.83% on QoQ basis.

TCS announced September quarter results

Tata Consultancy Service (TCS) has noticed double digit growth across verticals due to strong September quarter results. The companies Q2 US GAAP combined net profit up 14% (QoQ)-Rs 2,106 crore, combined net sales up 13% (QOQ)-Rs.9,285.3 crore. The operating profit margin up 86bps at 28% (QoQ). Forex loss in the quarter was Rs 41.7 crore.

Pranab Mukherjee apeaks about G20 agreement

Pranab Mukherjee, Finance Minister said the agreement on controlling currencies and adopting current account aims among Group of 20 nations remain elusive. There is no idea if meeting will occur at an agreement on this issue. It is difficult to say now as talks are going on, he added.

Wipro Cons announced its Q2 results

Wipro Consumer Care and Lighting announced its second quarter results, it contributes 9% of total revenue and 6% of operating income to its parent company. Vineet Agrawal, president of the company said their OPMs are in line with the company’s expectations and they keep their operating margins between 12.5-13%.

Want clarity on Hero Honda deal say minority shareholders

Hero Honda's minority shareholders have asked for clarification over the deal on several fronts reports. There are a few amounts of excitement among minority shareholders and institutional investors because Honda plans to quit its 26% from Hero Honda merger. It has worried few investors including Aberdeen AMC, LIC, etc.

Service tax department issues notice to Balaji Telefilms

Service tax department issued notice to Balaji Telefilms Ltd for non-payment of Rs 28.98 crore of service tax from April 2008-March 2010. The company has received another notice from service tax department for using a central value added tax credit of Rs 4.30 crore without the instruction from the law.

Dheeraj Hinduja replaces R.Shahaney as Ashok Leyland chairman

Gopichand Hinduja's son Dheeraj Hinduja has been appointed as chairman of Ashok Leyland replacing R.Shahaney. He plans to make Ashok Leyland a leading global player. The main aim is globalization of the company and we are at right place to take on global challenge including domestic side says Hinduja.

C Rangarajan discuss about issue and debate

C Rangarajan speaks about issue and big debate during this week are: currency wars and happenings between US-China, capital control imposed by Brazil-Thailand which is being considered by latest markets host, plans from RBI & government about flood of capital incases it floods into India and increase of rupee.

Sterlite Tech Q2 results has been announced

The second quarter results of Sterlite Technologies has been announced and Q2 net profit stayed at Rs 57.5 crore versus Rs 54.7 crore YOY and net sales stayed at Rs 509.4 crore versus Rs 465.8 crore YoY. The company may produce topline of Rs 3,500 crore by FY12 says Anand Agarwal, Director and CEO.

TDSAT order on spectrum usage charges receives stay from Supreme Court

Telecom Disputes Settlement (TDSAT) order has received a stay from Supreme Court on spectrum usage charges for telecom companies. The appeal to Supreme Court was made by Vodafone, Bharti Airtel and Idea challenging a Department of Telecom (DoT) policy that raised the charges of 2G spectrum from February-October 2010.

Power Grid plans for FPO on November 9

Power Grid Corporation of India plans to enter into capital markets again with FPO opening on November 9. The companies BOD meeting conducted on October 20 has agreed red herring prospectus for FPO. The subscription closes for QIB bidders on November 11, retail and Non-Institutional bidders on November 12.

EGoM to decide on CIL's IPO price on Oct 24

EGoM expected to meet on October 24 to decide on CIL's $3.5 billion IPO closed on Thursday, which was subscribed 15.28 times. CIL has been on highest demand from institutions and got bids for $53 billion of equity shares versus issue size of $3.5 billion on its last day.

BSE Sensex skyrockets 1.95% as market on a strong rebound

The BSE 30-share Sensex jumped 388.43 points or 1.95% to 20,260.58. The Sensex rose 420.95 points at the day's high of 20,293.10 in late trade. The index rose 13.97 points at the day's low of 19,886.12 in early trade.

The S&P CNX Nifty was up 119.40 points or 2% to 6,101.50. Nifty hit a high of 6,113.50.

The BSE Mid-Cap index rose 1.37% and the BSE Small-Cap index rose 1.04%. Both these indices underperformed the Sensex.

All the sectoral indices on BSE rose. The BSE FMCG index (up 3.19%), banking sector index Bankex (up 2.09%), Oil & Gas index (up 2.03%), and Metal index (up 2.01%), outperformed the Sensex. The BSE Realty index (up 1.87%), Healthcare index (up 1.76%), Capital Goods index (up 1.57%), PSU index (up 1.51%), Consumer Durables index (up 1.5%), Power index (up 1.26%), Auto index (up 0.99%), and IT index (up 0.89%), underperformed the Sensex.

The BSE clocked turnover of Rs 4786 crore, lower than Rs 4878.01 crore on Wednesday, 20 October 2010.

Market Breadth:

Positive 1898 Negative 1083 Unchanged 109
From the 30 share Sensex pack, 29 rose and rest fell.

Info Edge India, Pennar Industries, Allahabad Bank, TVS Motor Company declared results today

Info Edge India
Net profit was up at Rs 17.9 crore versus Rs 17.3 crore
Net sales were up at Rs 71.2 crore versus Rs 65.9 crore

Pennar Industries
Net profit was up at Rs 17 crore versus Rs 12 crore

Allahabad Bank
Net profit was up at Rs 402.5 crore versus Rs 333.6 crore

TVS Motor Company
Net profit was up at Rs 54.8 crore versus Rs 24.5 crore
Net sales were up at Rs 1,590 crore versus Rs 1,115 crore

Asahi Songwon Colors
Net profit was up at Rs 4.2 crore versus Rs 1.9 crore

Sun Pharma Advanced Research Company
Net profit was up at Rs 8.8 crore versus Rs 7.5 crore

Sterlite Technologies
Net profit was up at Rs 57.5 crore versus Rs 54.7 crore
Net sales were up at Rs 509.4 crore versus Rs 465.8 crore

South Indian Bank
Net profit was up at Rs 77 crore versus Rs 72.6 crore

Ceat
Net profit was down at Rs 15.27 crore Rs 61.47 crore
Net sales were up at Rs 842.61 crore versus Rs 719.39 crore

Softech Infinium Solutions
Net profit was up at Rs 0.05 crore versus Rs 0.04 crore
Net sales were up at Rs 1.42 crore versus Rs 0.94 crore

Merrill Lynch reduces Bajaj Auto to underperform

Bank of America-Merrill Lynch reduced India's Bajaj Auto to underperform from neutral as its earnings upgrade cycle came to an end. The bank said it expects sales and profit course for Bajaj Auto will slow down sharply over FY 2012-2013 on renewed competitive pressure.

Government data shows 15.53% YoY increase of Food price index

The government data displayed food price index in India increased by 15.53% and fuel price index increased to 11.14% during the year on October 9. The annual food and fuel inflation was 16.37% and 11.14% in earlier week and fruits, vegetables, milk prices raised around 10% increasing demand-supply gap.

Interim Dividend of Indiabulls Financial Services is at Rs 5 per share

The Interim Dividend of Indiabulls Financial Services Limited has been announced at Rs 5 per share which is 250% on the face value of Rs 2 per share for the financial year 2010-2011. The company has informed BSE regarding this after its BOD meeting conducted on October 21, 2010.

Received order worth Rs 710 million says Tecpro Systems

Tecpro Systems Limited has received an order worth Rs 710 million from the Engineering Projects (India) Limited for the Bhilai Steel Plant. The company has informed to the exchange regarding their press release dated on October 20, 2010.

NTPC expect 75,000 mw in next 5 years

NTP Chairman, MD said last time many external factors affected their delivery but now they expect to meet their annual targets as their execution capacity is 32,000mw. They expect additional 4,000mw in FY11, another 5,000mw in FY12 taking total capacity to 40,000mw and may achieve 75,000mw in next 5 years.

3G services in Q1 of 2011 says Vodafone Essar

Marten Pieters, Managing Director of Vodafone Essar, said they may introduce 3G services during first quarter of 2011 and spend additional $400-500 million in introducing 3G across India. Vodafone said they will provide many offerings and applications through 3G and pricing of premium service will be competitive and product based.

Plan to add Rs 160 cr to increase stake says Hindustan Motors

Hindustan Motors Ltd expects to add up Rs 160 crore to purchase more shares of HM Export Ltd. The company may fund the acquisition by selling shares of its subsidiary Avtec Ltd and also looking for shareholders approval to sell stake in Avtec.

ONGC may respond to Cairn Energy

ONGC expects to execute its pre-emptive rights in Cairn Energy's plans to sell controlling stake in Vedanta Resources. In August Cairn Energy decided to sell 40-51% stake in Cairn India to Vedanta Resources and based on details given by solicitor general of India ONGC may respond next week.

Oberoi Realty's 20.7 lakh shares bought by Morgan Stanley

Oberoi Realty shares during its first session were seen at Rs 280.15, with a premium of 7.75% versus its issue price of Rs 260 per share. The Mauritius Company, Morgan Stanley purchased 20,69,152 equity shares of Oberoi Realty at Rs 287.16 per share and sold 3,57,948 shares at Rs 283.75 per share.

IPO may be considered next month says Lodha Developers

Lodha Developers said its board will meet next month to consider IPO and they are yet to file draft red herring prospectus. But R Karthik, Chief Marketing Officer of Lodha Group and Pravin Jain, Senior Vice-President of Lodha Developers said details of the offer are not finalized still.

Issue price at Rs 183/share says Prestige Estates Projects

Prestige Estates Projects announced issue price at Rs 183/share, with higher price tag at Rs 172-183. The company increased Rs 1,200 crore through 6,55,73,770 equity shares. The issue during October 12-14 subscribed 2.26 times and reserved portion of qualified institutional investors for 4.32 times, comprising 19.99% fully diluted post issue paid-up capital.

Coal India's IPO oversubscribed

Coal India's IPO of $3.5 billion was oversubscribed in the retail portion on Thursday adding to institutional demand and expecting success for the Indian governments upcoming share sales. On IPO's final day it was subscribed 12 times, with high end at Rs 225-245/share changing into demand of around $40 billion.

BSE Sensex decreases 0.56% as metal, realty lead market drop

The BSE 30-share Sensex declined 110.98 points or 0.56% to 19,872.15. The Sensex rose 60.69 points at the day's high of 20,043.82 in mid-afternoon trade. The index lost 160.47 points at the day's low of 19,822.66 in late trade.

The S&P CNX Nifty was down 45.20 points or 0.75% to 5,982.10. The Nifty oscillated between a high of 6,038.10 and a low of 5,966.75.

The BSE Mid-Cap index fell 0.03% to 8,289.27 and the BSE Small-Cap index slipped 0.54% to 10,582.04. Both these indices outperformed the Sensex

Most sectoral indices on BSE edged lower. The BSE Metal index (down 2.22%), the BSE Realty index (down 1.37%), and the BSE Consumer Durables index (down 1.11%), underperformed the Sensex. The BSE HealthCare (up 0.16%), the BSE Oil & Gas index (up 0.16%), and the BSE Capital Goods index (up 0.20%), outperformed the Sensex.

The total turnover on BSE amounted to Rs 4,137 crore, lower than Rs 4,878.02 crore on Tuesday, 19 October 2010.

HDFC (down 2.58%), Bharti Airtel (down 1.99%), and ITC (down 1.20%), edged lower from the Sensex pack.

Market Breadth:

Positive 1125 Negative 1885 Unchanged 102
From the 30 share Sensex pack, 21 fell and rest rose.

Jet Airways Ltd said passenger traffic increased by 37.1%

Jet Airways said domestic passenger traffic has increased in September by 37.1% over a year ago and international traffic by 36.4%. The company informed 11 consecutive months of growth in passenger traffic and group includes low-cost carrier JetLite having market share of 26.9 % in the country's aviation sector.

Signed agreement for JV with Dragonwave says Himachal Futuristic Communications

Himachal Futuristic Communications Ltd has signed an agreement for Joint Venture with Dragonwave Inc, a supplier of high capacity 'Packet Microwave Radio Systems' used for backhaul of traffic in 3G/4G and Broadband Wireless Networks. Dragonwave has principal office at 411 Legget Drive, Ottawa, Ontario, Canada K2K 319.

Order received worth Rs 21.83 crore says Tantia Constructions Ltd

Tantia Constructions received an order worth Rs 21,83,29,397.66 from CON, Eastern Railway, Kolkata for constructing Bridge across river Paglachandi (6x18.3m) from Debogram and Paglachandi stations. Constructions of Bridge No. 36/A of span configuration (3x24.4m) from Sonadanga and Debogram stations on 1.2m diameter pile foundations, having combined girders including works between bethuadahari and pallassey.

Praful Patel says Govt plans to introduce Rs 1200 crore in Air India

Aviation Minister Praful Patel said government expects to introduce Rs 1200 crore in Air India. The government plans to approve equity infusion in the national carrier by next month. The Navi Mumbai airport clearance is expected in next month as environment panel meets today, he added.

Made a deal with Israeli broadcaster says DQ Entertainment

DQ Entertainment (International) Ltd said they have made a deal to hold rights of an animated 3-D television series with an Israeli broadcaster. The holding rights for broadcasting 'The New Adventures of Peter Pan' will be for Noga Communications Ltd within Israel by multiple channels over a 4 year time.

Gemini Communication expects order book at Rs 600 crore in FY11

Gemini Communication expects to receive orders from private domestic WiMax companies. B Shreekrishna, Managing director said they are in discussions and cannot inform anything till they get Letter of Intent (LoI). The company issued guideline statement which expects Rs 600 crore in FY, about Rs 82-84 crore of profit after tax (PAT).

China's industrial output increased by 16.3% in January-September

Ministry of Industry and Information Technology said China's industrial output has increased by 16.3% during the period of January-September from a year earlier. The ministry also said the country’s output expected to expand over 13% in the whole of 2010.

Purchase price for local wheat increased by 1.82% from Govt

The government has increased the price set to pay for domestic farmers to purchase new season wheat by 1.82% which is lowest increase in 5 years. Ambika Soni, Information and Broadcasting Minister said farmers will get Rs 1,120/100 kg versus Rs 1,100 during last season for main winter food crop.

Order received worth Rs 67.09 crore says Kalindee Rail Nirman

Kalindee Rail Nirman said it has received a work order for Rs 67.09 crores from Indian Railways (South Eastern Railway and Northern Railway). The company said the results of its other large bids are awaited and they also expect to accumulate good business from its present and forthcoming bids.

May consider a buyback of shares or dividend says Piramal Healthcare

Piramal Healthcare may analyze a buyback of shares or dividend after its BOD meeting in October 22. The company who planned to sell their domestic formulations business for $3.73 billion to Abbott Laboratories said it will analyze on issuing a special dividend to shareholders.

MphasiS plans a new organizational structure

CEO and Director of MphasiS Ganesh Ayyar said the company joined Boston Consulting Group and helped them to recondition their business, now they have planned a new organizational structure. There will be three important aspects namely vertical approach, emerging market approach and concept of incubation engine, he added.

Hero plans to obtain Honda's stake

Honda holding 26% in its merger plan with Hero Honda expect to quit India’s largest two wheeler maker. Hero group may obtain Honda's stake according to Right of first refusal (ROFR) agreement and acquisition price will be decided according to internal valuation report, considering book value of Hero Honda Motors.

Hindustan Zinc, Tanla Solutions, Canara Bank, Nitin Spinners, Indoco Remedies declared results today

Hindustan Zinc
Net profit was up at Rs 949 crore versus Rs 934.9 crore
Net sales were up at Rs 2,163 crore versus Rs 1,818.3 crore

Tanla Solutions
Net profit was up at Rs 3.2 crore versus Rs 2 crore

Canara Bank
Net profit was up at Rs 1,007 crore versus Rs 910.5 crore

Nitin Spinners
Net profit was up at Rs 3.8 crore versus Rs 0.4 crore
Net sales were up at Rs 94.6 crore versus Rs 72.4 crore

Indoco Remedies
Net profit was up at Rs 15.3 crore versus Rs 9.2 crore
Net sales were up at Rs 132 crore versus Rs 95.4 crore

Mahindra Lifespace Developers
Net profit was up at Rs 24.7 crore versus Rs 17.3 crore
Net sales were up at Rs 89 crore versus Rs 63.5 crore

Yes Bank
Net profit was up at Rs 176.3 crore versus Rs 111.71 crore

Kotak Mahindra Bank
Net profit was up at Rs 364 crore versus Rs 299 crore

Transformers and Rectifiers India
Net profit was at Rs 10.2 crore
Net sales were at Rs 114 crore

Merck
Net profit was down at Rs 24.7 crore versus Rs 26.2 crore
Net sales were up at Rs 156 crore versus Rs 130 crore

Ceat
Net profit was down at Rs 15.3 crore versus Rs 61.5 crore

Sanwaria Agro
Net profit was up at Rs 15.5 crore versus Rs 14 crore
Net sales were up at Rs 441 crore versus Rs 308 crore

Panasonic Energy India Company
Net profit was down at Rs 1.95 crore versus Rs 2.11 crore
Net sales were up at Rs 46.68 crore versus Rs 43.98 crore

NRC
Net sales were down at Rs 0.02 crore versus Rs 1.33 crore

Muthoot Capital Services
Net profit was up at Rs 2.51 crore versus Rs 1.71 crore
Net sales were up at Rs 8.93 crore versus Rs 5.09 crore

Mafatlal Finance Company
Net profit was at Rs 0.39 crore versus Rs 0.29 crore
Net sales were at Rs 0.87 crore versus Rs 0.79 crore

Mangalore Chemicals and Fertilisers
Net profit was up at Rs 33.82 crore versus Rs 14.90 crore
Net sales were up at Rs 1,023.25 crore versus Rs 611.72 crore

Sudarshan Chemical Industries
Net profit was up at Rs 16.67 crore versus Rs 14.08 crore
Net sales were up at Rs 192.25 crore versus Rs 151.38 crore

Shree Digvijay Cement Company
Net sales were up at Rs 46.01 crore versus Rs 72.03 crore

Supreme Industries
Net profit was up at Rs 40.31 crore versus Rs 19.86 crore
Net sales were up at Rs 473.36 crore versus Rs 342.57 crore

BSE Sensex slumps 0.92% as IT, realty head downfall

The BSE 30-share Sensex was down 185.76 points or 0.92% to 19,983.13. The Sensex lost 244.93 points at the day's low of 19,923.96 in late trade. The index gained 163.13 points at the day's high of 20,332.02 in early trade.

The S&P CNX Nifty was down 48.65 points or 0.80% to 6,027.30. The Nifty hit a low of 6,008.15 in late trade.

The BSE Mid-Cap index rose 0.24% to 8,291.68 and the BSE Small-Cap index gained 0.24% to 10,638.96. Both these indices outperformed the Sensex

Most sectoral indices on BSE edged lower. The BSE IT index (down 2.22%), the BSE Realty index (down 1.75%), and the BSE Teck index (down 1.73%), underperformed the Sensex. The BSE HealthCare (up 1.06%), the BSE Auto index (up 0.28%), and the BSE FMCG index (up 0.06%), outperformed the Sensex.

The total turnover on BSE amounted to Rs 5257 crore, higher than Monday's Rs 4,578.92 crore.

DLF (down 2.66%), NTPC (down 1.69%), and Reliance Infrastructure (down 1.36%), edged lower from the Sensex pack.

Market Breadth:

Positive 1497 Negative 1535 Unchanged 85
From the 30 share Sensex pack, 27 fell and rest rose.

Zee Entertainment plans to introduce 6-7 new channels

CEO of Zee Entertainment Enterprises Punit Goenka says the company expects to get permission to introduce 6-7 new channels. At present they have 32 channels and further plan to introduce food, golf and regional language channels. The company's shares were trading up 2.65% at Rs 281.35 in the Mumbai market.

Interim dividend announced at Rs 9 per share says Rallis India

Interim dividend of Rallis India Ltd has been announced at Rs 9 per share which is 90% to the shareholders of the Company. The company has informed to BSE regarding this after its Board of Directors meeting conducted on October 19, 2010.

BOD meeting in October 25 says Ramco Industries

Ramco Industries BOD meeting will be conducted in October 25 to discuss among other things to consider the Unaudited Financial Results for the quarter or half year ended September 30 and declaration of Interim Dividend for the current Financial Year 2010-11. The company informed to BSE regarding this matter.

Purchased 2.28% more in SpiceJet says Kalanithi Maran

Kalanithi Maran, founder of Sun TV and his aviation firm Kal Airways Pvt Ltd has increased stake in low-cost carrier SpiceJet after obtaining 9.22 million shares or 2.28%. The shares were obtained in October 18 via an off-market transaction and their holding in SpiceJet now stands at 26.2%.

Nippon Steel plans to manufacture auto-use pipes in India

Nippon Steel plans to start a manufacturing operation in India making steel pipes for use in automobiles. The company may invest $37 million on production and sales operations. Nippon Steel and JFE Holdings already acquire almost half of its steel revenue from exports to South Korea, China and Thailand.

Option of Anchor investors is open says Sumit Bose

Sumit Bose, disinvestment Secretary said government plans to take a flexible approach towards choosing the anchor investor route for mega public issues of Power Grid, Shipping Corporation, Hindustan Copper and SAIL. SEBI approved to include anchor investors and we expect to keep the option till last minute, he added.

CEBBCO's 3.45 lakh shares sold by BNP Paribas Arbitrage

CEBBCO's listed shares were disappointing in markets and stock on Monday ended at Rs 109.75 on NSE, down 13.58% versus issue price of Rs 127/share. CEBBCO's 3,45,114 equity shares were sold by BNP Paribas Arbitrage at Rs 121.96/share and Citigroup Global Markets Mauritius Private Limited purchased 4 lakh shares at Rs 111.58/share.

Shares will be listed in October 20 says Oberoi Realty

Oberoi Realty listing date for its equity shares set as October 20. IPO price set at Rs 260/share, higher price tag at Rs 253-260/share. The issue can be subscribed from October 6-8 and subscribed 12.13 times. QIBs' reserved portion 21.9850 was subscribed times, non-institutional investors (NIIs) reserved portion was subscribed 3.5226 times.

Government plans MOIL's IPO in November

The government plans to introduce IPO of Manganese Ore India Ltd (MOIL) in November as SAIL prepares itself to introduce more shares in the market. Pradeep Kumar Misra, Steel Secretary said MOIL's pre-roadshow for IPO expected around October 20 and final roadshow on November with IPO introduction in November-December.

Issue price set at Rs 71/share says Gyscoal Alloys

Gyscoal Alloys sets issue price at Rs 71/share, higher price tag of Rs 65-71 increasing Rs 54.67 crore via IPO of 77 lakh equity shares. The issue opened from October 13-15 was subscribed 8.59 times and NIIs reserved portion for 33.44 times, retail and qualified institutional investors with 8 & 1.54 times.

QIBs portion IPO of CIL fully subscribed

Coal India's IPO was subscribed 0.74 times (74%) till now due to good response from QIBs. The issue received bids for 46.92 crore equity shares versus 63.16 crore shares and QIBs reserved portion subscribed 1.42 times. The government plans to accrue Rs 15,000 crore via IPO which is largest through offering.

IOC will float bids to select bankers for FPO says Sumit Bose

Sumit Bose, divestment secretary said Indian Oil Corporation (IOC) expects to float bids to select bankers for follow-on public offer (FPO) and the company plan share issues of Power Grid, Manganese Ore, Shipping Corp and Hindustan Copper by December. Government will get Rs 40,000 crore divestment target by FY11 easily, he added.

BSE Sensex increases 0.22% as market witnesses mix reactions

The BSE 30-share Sensex was up 43.84 points or 0.22% to 20,168.89. The Sensex lost 254.54 points at the day's low of 19,870.51 in morning trade. The index rose 104.34 points at the day's high of 20,229.39 in late trade.

The S&P CNX Nifty was up 13.30 points or 0.22% to 6,075.95.

The total turnover on BSE amounted to Rs 4401 crore, lower than Friday's turnover of Rs 5292.57 crore.

The BSE Mid-Cap index fell 0.47% to 8,272.22 and the BSE Small-Cap index declined 0.15% to 10,613.85. Both these indices underperformed the Sensex.

Sectoral indices on BSE displayed mixed trend. The BSE Consumer Durables index (down 1.02%), the BSE FMCG (down 0.18%), and the BSE Power index (down 0.17%), underperformed the Sensex.

The BSE IT (up 1.28%), the BSE Oil & Gas index (up 0.84%), and the BSE Realty index (up 0.72%), outperformed the Sensex.

Market Breadth:

Positive 1286 Negative 1754 Unchanged 79
From the 30 share Sensex pack, 16 fell and rest rose.

Stocks of Jay Energy & S Energies splitted from Rs 10 to Rs 5

Jay Energy & S Energies Ltd decides to split the face value of Equity Shares of the Company from Rs 10 to Rs 5 answerable to shareholders approval at the EGM to be called in November 15. The companies informed this to BSE after its BOD meeting conducted in October 15.

Order received worth Rs 21.22 crore says Mcnally Bharat Engineering

McNally Bharat Engineering Company Ltd has received an order worth Rs 21.22 Crore from Essar Projects (India) Ltd to supply two no's Stacker Reclaimers for Jharkhand Power Project with the completion period fixed to be 12 months. The company has informed to BSE regarding this matter.

KDCL BOD decides to open QIP

Kiri Dyes and Chemicals (KDCL) BOD decides to open Qualified Institutional Placement (QIP) issue starting from October 21. The floor price for QIP issue is at Rs 597.55 per share. The product range consists 120 dyestuffs used by textiles, leather, paint and printing-ink industries with total production capacity of 10800 MT pa.

Chain E-Land obtains 51% in Mudra Lifestyle

Chain E-Land expects to obtain 51% in Mudra Lifestyle which will include compulsory open offer of 20% generating to issue fresh shares to the Korean company. Chairman and Managing Director of Mudra Lifestyle, Murarilal Agarwal, said they are issuing 25% equity expected to bring in Rs 70-72 crore in the company.

BHP Billiton and Rio Tinto stop $116 billion joint venture

BHP Billiton and Rio Tinto stopped their $116 billion iron-ore joint venture, conceding in to opposition from regulators, steelmakers and major investors. This decision makes BHP's second time failure to get Rio Tinto's superior iron ore assets in three years making its focus on $39 billion hostile bid.

Jyothy Labs plans to purchase a detergent brand

Jyothy Laboratories is in discussions with Safechem Industries, a detergents and allied products company located in West Bengal, to purchase the latter's flagship laundry detergent brand name 'Safed'. The deal is expected to be worth Rs 70 crores.

NELP IX gets new incentives from government says Murli Deora

Murli Deora said government plans to include new incentives in New Exploration Licensing Policy (NELP) IX with initial exploration period extended to 5 years and total exploration to 8 years. This will allow exploration period extension for deep and frontier areas including government plans to waive off necessary 2D seismic work program.

Sterlite plant closure case stay order extended by Supreme Court

Supreme Court extends its stay on a lower court order informing Vedanta Resources unit Sterlite Industries to close its copper smelter in south India. The court ordered stay till second week of December. Supreme Court stayed till October 18, an order from Madras High Court decision to close Sterlite.

Dividend announced at 50% says Tata Select Equity Fund

Dividend of Tata Mutual Fund has been announced at 50% which is Rs 5.00 per unit on a face value of Rs 10 in Tata Select Equity Fund with a record date as October 22. The NAV of the scheme under the dividend option was Rs 50.482 as in October 15.

Dividend announced at 12% says Religare Business Leaders Fund

Dividend of Religare Mutual Fund has been announced at 12% which is Rs 1.200 per unit on a face value of Rs 10 in Religare Business Leaders Fund with a record date as October 22. The NAV of the scheme under the dividend option was Rs 13.34 as in October 15.

Shares opens below issue price says CEBBCO

Commercial Engineers & Body Builders Co (CEBBCO) shares opened below its issue price because of profit booking and sell-off in markets. The shares were trading at Rs 123.20, down 3% versus issue price of Rs 127. It saw high of Rs 142.55 and low of Rs 116.90 in early trade which opened at Rs 119.

IPO gets subscriptions 0.11 times in first hour says CIL

Coal India's IPO of $3.5 billion was subscribed 0.11 times during its first hour on opening day leading towards country's largest IPO. In India, large IPO will get more subscription in the end of offering. The IPO will close for institutional investors on Wednesday and retail investors on Thursday.

BSE Sensex dips 1.82% as IT, auto lead deep slump

The BSE 30-share Sensex was down 372.59 points or 1.82% to 20,125.05. The index lost 407.46 points at the day's low of 20,090.18 in late trade. The Sensex rose 80.81 points at the day's high of 20,578.45 in early trade.

The S&P CNX Nifty was down 114.70 points or 1.86% to 6,062.65.

The total turnover on BSE amounted to Rs 5252 crore, lower than Rs 6746 crore on Thursday, 14 October 2010

The BSE Mid-Cap index fell 1.22% to 8,311.66 and the BSE Small-Cap index declined 0.74% to 10,629.65. Both these indices outperformed the Sensex.

Among sectoral action, the BSE IT index (down 3.25%), the BSE Teck (down 3.01%), and the BSE Auto index (down 2%), underperformed the Sensex.

The BSE Realty (down 0.96%), the BSE Power index (down 0.98%), and the BSE HealthCare index (down 1.13%), outperformed the Sensex.

Market Breadth:

Positive 997 Negative 2058 Unchanged 94
From the 30 share Sensex pack, 28 fell and rest rose.

Infosys announces its quarter results

Infosys has informed its September quarter results today which showed a net profit at Rs 1737 crore versus Rs 1488 crore and it is expected to be an increase of 16.73% on quarter-on-quarter basis (QoQ) according to International Financial Reporting Standards (IFRS).

Dividend announced at 15% says Orbit Exports

The interim dividend of Orbit Exports Ltd has been announced at 15% which is Rs 1.50 per share on 76,66,100 Equity Shares of Rs 10 each amounting to Rs 1,14,99,150. This was informed to BSE among other things after its BOD meeting held on October 15, 2010.

Dividend announced at 10% says Infosys Technologies

The interim dividend of Infosys Technologies Limited has been announced at Rs 10 per equity share including a 30th year Special Dividend of Rs 30 per equity share. This was informed to the Exchange after its BOD meeting held on October 15, 2010.

Global sales in September increased by 19% says Tata Motors

Tata Motors global vehicle sales in September have increased by 19% to 86,996 units compared to last year and Jaguar & Land Rover sales have increased to 16% to 19,528 units. The company also produces utility vehicles and cars like Nano, which is known as world's cheapest car.

Oil Minister says India aims $14 bn investment in exploration blocks

Murli Deora, Oil Minister said India aims for investment of $14 billion in its ninth licensing round for 34 exploration blocks. The country offers oil and gas blocks in its latest exploration round introduced on Friday and New Delhi awarded 235 blocks during its previous eight rounds of auctions.

Suzuki Motor may recall its cars to repair door mirror

Suzuki Motor may recall 90,617 units of Swift and other three car models in Japan to solve defect of door mirror and repair also include 192,000 cars sold abroad. The screws loosen causing mirrors to dislodge due to vibrations and recall starting on Saturday includes 19,426 vehicles supplied to Nissan Motor.

Increased $1.5 billion debt says Reliance Industries

Reliance Industries has accrued $1.5 billion in a dollar bonds issue and the company said a $1 billion which is 10-year tranche of the issue was priced at 205 basis points on US Treasuries. A $500 million 30-year bond was priced at 240 basis points on Treasuries.

Franklin Templeton Asset Management increases and decreases exposure

Franklin Templeton Asset Management improved its coverage in metals & mining, banking & financial services, utilities space and decreased in cement & construction, IT, engineering & capital goods. South Indian Bank, GVK Power & Infra, Consolidated Construction and Unitech, India Cements, Hindustan Unilever were top acquisitions.

Birla Sun Life MF top buys and sells

Birla Sun Life Mutual Fund improved its exposure in banking & financial services, metals & mining, telecommunication sector and decreased itself in information technology, utilities, media & entertainment. Top buys were IndusInd Bank, Kalpataru Power, Shree Renuka Sugars and top sells were Zee Entertainment, Nagarjuna Construction, KSK Energy Ventures.

HDFC MF top buys and sells

HDFC Mutual Fund has improved itself in oil & gas, telecommunication, tobacco sectors and decreased its exposure in engineering & capital goods, automotive, banking & financial services sectors. Top buys were Bharti Airtel, Petronet LNG, NTPC and top sells were while Zee Entertainment, Maruti Suzuki, Indraprastha Gas.

Sea TV 9.2 lakh shares sold by Deutsche Securities and Taib Bank

Sea TV Network shares ended at Rs 106 with a premium of 6% on issue price of Rs 100/share and stock saw 85 bulk deals. Deutsche Securities Mauritius Limited sold 81,440 equity shares at Rs 121.01, 488,654 shares at Rs 113.90, 81,440 shares at Rs 119.83 and Taib Bank discharged 2,71,051 shares at Rs 112.74.

Nirmal Bang recommends CIL's IPO

Nirmal Bang has recommended to subscribe for IPO of Coal India which is open for subscription on October 1 with a price tag at Rs 225-245 per share. The government also plans to increase Rs 15,000 crore via this issue which is highest amount by an Indian company.

BSE Sensex drops 0.92% as capital goods lead slide

The BSE 30-share Sensex was down 190.24 points or 0.92% to 20,497.64. The Sensex jumped 166.67 points at the day's high of 20,854.55 in early trade, its highest level since 15 January 2008. The index slipped 245.06 points at the day's low of 20,442.82 in late trade.

Following a recent surge, the BSE Sensex is within a striking distance to its record high of 21,206.77 hit on 10 January 2008.

The S&P CNX Nifty was down 56.55 points or 0.91% to 6,177.35. Nifty struck a high of 6,284.10 in early trade, its highest level since 10 January 2008. Nifty had hit a record high of 6,357.10 on 8 January 2008.

The total turnover on BSE amounted to Rs 5288 crore, lower than Rs 6586.30 crore on Wednesday, 13 October 2010.

Most of the sectoral indices on BSE fell. The Capital Goods index (down 1.94%), Oil & Gas index (down 1.54%), Power index (down 1.24%), PSU index (down 1.11%), the banking sector index Bankex (down 1.08%) and underperformed the Sensex.

The BSE Metal index (up 0.55%), IT index (up 0.48%), FMCG index (down 0.37%), Healthcare index (down 0.42%), Realty index (down 0.43%), Auto index (down 0.65%) and Consumer Durables index (down 0.83%), outperformed the Sensex.

The BSE Mid-Cap index fell 0.27%. The BSE Small-Cap index fell 0.49%. Both these indices outperformed the Sensex.

Market Breadth:

Positive 1163 Negative 1860 Unchanged 78
From the 30 share Sensex pack, 25 fell and rest rose.

Expect huge smart grid opportunity in China says Cisco

Cisco Systems expects more opportunity in China for its smart grid products as it resumes to find acquisition to expand in growing market. The company expects smart grid to be huge than Internet in reach and they also have found $15-20 billion opportunities globally in the next 5-7 years.

News Corp, AOL and other private equity aims for Yahoo

Many private equity companies including News Corp and AOL Inc have requested Internet and media companies to measure their interest in getting Yahoo Inc. The deal will be possible on Yahoo selling its prized Asian assets which includes 40% stake in China's Alibaba.

Plan to purchase stake in Vizhinjam port says Shipping Corp

Shipping Corp of India plans to purchase a stake in deepwater seaport, Vizhinjam which was planned by Kerala government near Thiruvananthapuram. Sanjeev Kaushik, secretary and CEO said investment will be in Vizhinjam International Seaport which will work as nodal agency in building and running the port.

Nokia Siemens and Ericsson to supply 3G gear to Vodafone Essar

Nokia Siemens Networks and Ericsson are expected to supply 3G telecom equipment to India's third-biggest mobile carrier Vodafone Essar owned by Vodafone. Vodafone Essar has not given financial details but said Nokia Siemens will supply equipment for six telecom zones and Ericsson for three including Mumbai and Delhi zones.

Lodha is first choice in Mafatlal land sale

Lodha Developer has been advancing after reaching a Rs 5700 crore record MMRDA deal in Wadala. Lodha is the first choice in Mafatlal Industries land sale. The other bidders including Peninsula Land, Kanakia and the prime 14.5 acre plot in Mumbai are worth Rs 1200- 1300 crore.

L&T; infrastructure plans to increase Rs 700 crores

L&T infrastructure Finance expects to accrue around Rs 700 crores by selling 10 yearr bond to retail investors from this week. The company said bond interest rate will start from 7.5-7.75% for the issue which opens in Friday and ends on November 2, 2010.

Dividend announced at 30% says Southern Gas

Dividend of Southern Gas is announced at Rs 30/share at 30% of face value of Rs 100 per share on Equity Capital for approval in Annual General Meeting. The payment for dividend is Rs 6,75,000 and this information was given to BSE after their BOD meeting held on May 28, 2010.

Reliance Mutual Fund exposed into Banking & Financial Services

Reliance Mutual Fund developed exposure into Banking & Financial Services, Cement & Construction, Metals & Mining and decreased investments in Oil & Gas, Utilities, Tobacco. The top buys were Hindalco Industries, PTC India and top sells were ITC, Adani Power, Lupin. They also purchased Federal Bank, ICICI Bank.

Bedmutha Industries shares opens at Rs 113.5 per share

Bedmutha Industries shares opened its first day on exchanges at Rs 113.5 versus its issue price of Rs 102 a share on NSE. The shares were trading at Rs 104.80 with a volume of 71 lakh shares after reaching high of Rs 120 and low of Rs 102 in early trade.

Shares listed with 20% premium says Sea TV Network

Sea TV Network shares been listed at Rs 120 with a premium of 20% over an issue price of Rs 100 per share. The shares were trading at Rs 118 including a volume of more than 30 lakh shares after reaching high of Rs 126.15 and low of Rs 116.10 on BSE.

Shares listed at Rs 342 says Ashoka Buildcon

Ashoka Buildcon shares have been listed at Rs 342 per share on NSE versus its issue price of Rs 324 with a price tag at Rs 297-324 per share. Satish Parakh, MD of Ashoka Buildcon said the company also has a healthy and unique EPC base.

KR Choksey recommends Coal India IPO

KR Choksey has recommended to subscribe for Coal India's IPO which opens on October 18 with a price tag at Rs 225-245 a share on back of fundamentals and healthy growth prospects. The government plans to increase Rs 15,000 crore via this issue which is largest ever by an Indian company.

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BSE Sensex soars 2.4% as all sectors gain

The BSE 30-share Sensex jumped 484.54 points or 2.4% to 20,687.88, its highest closing since 14 January 2008. The index rose 500.63 points at the day's high of 20,703.97 in late trade. The Sensex rose 8.32 points at the day's low of 20,211.66 in early trade.

The S&P CNX Nifty was up 143 points or 2.35% to 6,233.90, its highest closing since 9 January 2008. Nifty hit high of 6,240.25 in late trade.

All the sectoral indices on BSE rose. The BSE IT index (up 3.15%), Capital Goods index (up 2.68%), and Realty index (up 2.51%), outperformed the Sensex. The BSE FMCG index (up 2.29%), banking sector index Bankex (up 2.21%), Oil & Gas index (up 1.56%), Metal index (up 1.41%), Auto index (up 1.39%), PSU index (up 1.19%), Consumer Durables index (up 1.09), Healthcare index (up 1.03%), and Power index (up 0.91%), underperformed the Sensex.
The BSE Mid-Cap index rose 0.99%. The BSE Small-Cap index rose 1.06%. Both these indices underperformed the Sensex.

BSE clocked turnover of Rs 5632 crore, higher than Rs 5329.30 crore on Tuesday, 12 October 2010.

Market Breadth:

Positive 1953 Negative 1082 Unchanged 72
From the 30 share Sensex pack, 29 rose and rest fell.

OPEC stands with $70-$80 oil price

OPEC stands with $70-$80 oil price target planning to maintain an output policy which served it for almost 2 years. However it may check bloated inventories as recession nears end. The market stands $80/barrel mainly due to dollar weakness which increased pressure from the Organization of Petroleum Exporting Countries.

King Pharma purchased for $3.6 bn says Pfizer

Pfizer Inc said they have made a deal to purchase King Pharmaceuticals Inc for $3.6 billion in cash planning to improve revenue before losing patent protection on some of its top-selling treatments. The company said $14.25/share deal for King will result 40% premium over company's closing share price.

Deal on Ssangyong Motor will end by December says M&M;

Mahindra & Mahindra Ltd plans to sign final agreement to get South Korea's money-losing Ssangyong Motor Co Ltd by December as they started price negotiations. Anand Mahindra, Vice-Chairman said they finished due diligence on Ssangyong Motor and are happy about the result. They entire process may end by February-March.

India's Industrial output growth dropped to single-digit

Annual industrial output growth in India went down to single-digits in August doubting economy's strength and need for RBI to increase rates again in November. The drop shows fall in capital goods output payback by 72% rise in July and showed slowest industrial output growth since May 2009.

Bajaj Holdings gets 12.82% stake in NMCE for Rs 25 crore

Bourse said Bajaj Holdings and Investment Ltd has purchased 12.82% stake in the National Multi Commodity Exchange (NMCE) for Rs 25 crore. Bourse which is located in Ahmedabad is partly owned by Reliance Capital Ltd, Neptune Overseas and Central Warehousing Corporation.

Cantabil Retail started disappointing

Cantabil Retail India was disappointing after its shares closed at Rs 104.45, down 22.63% from issue price of Rs 135 after reaching high of Rs 125.90 and low of Rs 101.10. The stock saw 137 bulk deals, Credit Suisse sold 98,610 shares at Rs 120.76/share and Deutsche Securities sold 1,45,000 shares at Rs 117.66.

Bought 3.7 lakh shares says Franklin Templeton MF

Stock of Franklin Templeton MF was at Rs 401.80, with premium of 13.18% over issue price of Rs 355/share on NSE. It reached a high of Rs.453.80 and low of Rs 380. The stock saw 31 bulk deals yesterday and Franklin India A Flexicap Fund received 3,70,175 shares at Rs 409.92/share.

IPO opened for subscription says Gyscoal Alloys

Gyscoal Alloys IPO opened for subscription today and ends October 15 offering 77 lakh equity shares constituting 48.65% fully diluted post issue paid up capital of the company. The price tag fixed at Rs 65-71 a share and bids can be made minimum of 90 equity shares and multiple thereon.

Shares reach Rs 1737 on first day said VA Tech Wabag

VA Tech Wabag share has performed well on its first day in exchanges after listing at Rs 1500 versus issue price of Rs 1310 with premium of 14.5%. The shares have reached high of Rs 1737 in early trade and stock was trading at Rs 1709, up 30.46%, with 15.6 lakh equity shares.

Filed regulator application for FPO says SCI

Shipping Corp of India(SCI) has filed an application for its follow-on public offer with stock market regulator and government will sell 10% stake in the company. The shipping services firm will issue 10% of fresh equity and government may share sale to get $291 million from stake sale.

Shares of Sea TV Network and Bedmutha Inds listed on Oct 14

Shares of Sea TV Network, which provides services of Multi System Operator(MSO) to Local Cable TV operators of Agra and Bedmutha Industries, which is steel wire manufacturer will be listed in exchanges on October 14. The Sea TV Network's issue price is Rs 100/share with higher end set as Rs 90-100.

Gupta Equities says CIL is an appealing issue

Gupta Equities said Coal India's subscription which opens on October 18 with a price tag at Rs 225-245 a share is an attractive issue and suitable for long term gains. The government may accrue around Rs 15,000 crore via IPO, said to be the largest offering for an Indian company.

Order recieved worth Rs 21 crore says Elecon Engineering Company

Elecon Engineering Company Ltd has received a prestigious and important order valuing to Rs 21.00 crores for a design, engineering, manufacturing, and for supplying of a Material Handling Equipments. The company has also informed to BSE regarding this very important matter.

Diamond Power Infrastructure makes deal with Skoda, Schaltech

Diamond Power Infrastructure Ltd has made a deal with Skoda (India) Pvt. Ltd. and Schaltech Automation Pvt. Ltd. for Executing Projects in T & D Segment up to 400 KV. The company has also informed to BSE regarding this matter.

Dividend announced for three funds says Birla Sun Life MF

Birla Sun Life MF dividend announced at Rs 7.50/unit, Rs 5.00/unit, Rs 1.00/unit under dividend option of Birla Sun Life 95 Fund, Birla Sun Life Equity Fund, Birla Sun Life Top 100 Fund with record date as October 15. The NAV was Rs 125.930, Rs 84.020, Rs 16.779 under dividend plan as in October 11.

Dividend announced at 12.5% says Kotak Mahindra Mutual Fund

Dividend of Kotak Mahindra Mutual Fund has been announced at 12.5% which is Rs 1.25 per unit on face value of Rs 10 under dividend option of Kotak Select Focus Fund with record date of October 15, 2010. The NAV was Rs 13.043 under the dividend plan as on October 11, 2010.

Dividend announced at 10% says Principal Mutual Fund

Dividend of Principal Mutual Fund has been announced at 10% which is Rs 1.00 per unit on a face value of Rs 10 under dividend option of Principal Emerging Bluechip Fund with record date of October 15, 2010. The NAV was Rs 27.79 under the dividend plan as on October 11, 2010.

VA Tech Wabag IPO withdrawal option ends

VA Tech Wabag Ltd informed retail investors about withdrawing their bids from their IPO only on the last day. The company gave a mandated seven-day period for withdrawals through a newspaper ad that went unnoticed by investors. The company's IPO was subscribed 36.2 times ending in September 27.

BSE Sensex dips 0.67% as almost every sector in downturn

The BSE 30-share Sensex fell 136.55 points or 0.67% to 20,203.34. The index rose 28.51 points at the day's high of 20,368.40 in early trade. The Sensex fell 232.64 points at the day's low of 20,107.25 in mid-morning trade soon after the industrial production data.

The S&P CNX Nifty was down 44.95 points or 0.73% to 6,090.90.

The BSE Mid-Cap index fell 0.51%. The BSE Small-Cap index was flat. Both these indices outperformed the Sensex.

Most sectoral indices on BSE declined. The BSE Realty index (down 1.8%), Capital Goods index (down 1.58%), Metal index (down 1.43%), Consumer Durables index (down 1.42%), FMCG index (down 1.01%), Power index (down 0.98%), Oil & Gas index (down 0.9%), and PSU index (down 0.81%), underperformed the Sensex. The BSE IT index (up 0.22%), Healthcare index (up 0.18%), Auto index (down 0.1%), and banking sector index Bankex (down 0.38%),
outperformed the Sensex.

Market Breadth:

Positive 1171 Negative 1820 Unchanged 105
From the 30 share Sensex pack, 22 fell and rest rose.

Shares were at 56.40% says Gallantt Ispat

Gallantt Ispat shares stood at 56.40% on day one at Rs 78.20 versus issue price of Rs 50 a share on NSE. Its stock was on high of Rs 87, low of Rs 49. The Credit Suisse sold 3,16,325 equity shares at Rs 57.55/share and Royal Bank Of Scotland sold 6,42,492 shares at Rs 63.19.

IPO can be at Rs 220-240 per share says Coal India

Coal India's IPO which may increase to $3.4 billion expected to have a price tag at Rs 220-240 per share. The Price tag will be finalized by the group of ministers lead by Finance Minister Pranab Mukherjee on Tuesday.

Industrial output growth disappointing in August

Pranab Mukherjee Finance Minister of India said industrial output growth during August was disappointing. Annual industrial output growth in the country crashed to single-digits in August with 5.6% versus upwardly revised 15.2% growth in July which is below Reuters expectations for an annual rise of 9.65%.

Shares trading below issue price says Cantabil Retail

Cantabil Retail shares has opened below its issue price on first day which was Rs 114.70 versus issue price of Rs 135 on NSE reaching a high of Rs 125.90 and low of Rs 112 in early trade. The shares were seen trading at Rs 119.50 which is down 11.5% with 36 lakh shares.

Tecpro Systems shares opened strong on its first day

Tecpro Systems shares have opened very strong on its first day with listing at Rs 380 versus its issue price of Rs 355 a share. The stock has reached a top of Rs 426.45 in early trade. The shares were seen trading at Rs 422.50 increased by Rs 67.50 or 19.01%.

Prestige Estates Projects plans IPO of Rs 1200 crore

Prestige Estates Projects plans to enter into capital market with its IPO of Rs 1200 crore with a price tag of Rs 172-183 per share. The company got obligation of Rs 215.46 crore from 23 anchor investors on Monday including Reliance MF, Sundaram BNP, HDFC MF, Govt of Singapore, and DSP Blackrock.

BSE Sensex escalates 0.44% as nearly all sectors grow

The BSE 30-share Sensex was up 89.63 points or 0.44% to 20,339.89. The index rose 211.01 points at the day's high of 20,461.27 in early trade. The Sensex opened flat at 20,250.26, which was also the day's low.

The S&P CNX Nifty was up 32.40 points or 0.53% to 6,135.85.

The BSE Mid-Cap index rose 0.79% and the BSE Small-Cap index rose 1.36%. Both these indices outperformed the Sensex.

Most sectoral indices on BSE rose. The BSE Auto index (up 1.93%), Metal index (up 1.57%), Oil & Gas index (up 1.29%), Consumer Durables index (up 0.65%), PSU index (up 0.52%), and Realty index (up 0.46%), outperformed the Sensex. The BSE Healthcare index (up 0.29%), banking sector index Bankex (up 0.24%), Power index (up 0.1%), Capital Goods index (up 0.04%), FMCG index (down 0.01%) and IT index (down 0.12%), underperformed the Sensex.

The BSE clocked turnover of Rs 4366 crore, lower than Rs 5352.68 crore on Friday, 8 October 2010.

Market Breadth:

Positive 1901 Negative 1091 Unchanged 89
From the 30 share Sensex pack, 18 rose and rest fell.

CNOOC Ltd pays $1.1 billion for Chesapeake Energy bid

CNOOC Ltd has decided to pay $1.1 billion for a stake in US shale oil and gas field which tests the market for first time after Unocal's failed bid in 2005. The company’s shares reached 3yr high on news of deal with Chesapeake Energy Corp expecting more outbound acquisitions.

WPI data of September postponed till Friday by government

The government has postponed the release of its September headline inflation data till Friday. The release of data is delayed because the government offices in Delhi will be closed on October 14 due to closing ceremony of the 12-day Commonwealth Games.

BOD meeting on October 18, 2010 says CRISIL Ltd

CRISIL Ltd has finalized its BOD meeting to be held on October 18, 2010 and informed to BSE, the meeting till acknowledge and permit unaudited financial results for quarter ended September 30, 2010 including approval of payment of Third Interim Dividend for the financial year ending December 31, 2010.

Prime Focus expects 15-20% increase in revenue in FY11

Prime Focus Ltd who provided visual effects to Hollywood's 3D sci-fi Avatar expects a 15-20% increase in revenue during the current financial year moving by plum 2D to 3D film conversion contracts. The company also showed revenue of Rs 95.12 crores in the FY ending March 2010.

India's tyre productions expect to rise by 25% in 2010/11

India's tyre productions in 2010/11 expect to increase 121.4 million units due to increasing capacity of tyre companies to help demand from local auto industry. The director-general of Automotive Tyre Manufacturers Association Rajiv Budhraja said all companies are increasing capacity due to demand from original equipment and replacement segments.

Shoppers Stop expects sales to increase by 20%

India's Shoppers Stop Ltd expects same store sales to increase by 20% from a year ago. Govind Shrikhande, Managing Director, expects to launch two-three new brands in next fiscal and he thinks they will get sales of Rs 1,800 crores in FY11 versus 1,300 billion rupees in FY10.

Nearing to accrue $350 million says Moser Baer Projects

Moser Baer Projects is nearing to increase $350 million and BlackStone added $300 million for getting a minority stake in them during August. They expects to increase funds through equity dilution, borrowing. The company may use $250 million of proceeds to expand thermal projects to 4000 MW in 2 years.

PSL Ltd bags more orders

PSL Ltd received orders worth Rs 565 crore including manufacturing of pipes, provide coating services and order worth Rs 200 crore from IOC for Paradip-Ranchi pipeline. Order book of the company showed Rs 1,535 crore and it controls 0.3 MTPA pipe mill in Mississippi, US including 0.075 MTPA unit in Sharjah, UAE.

Expect a positive reult in FY12 says Gallantt Ispat

Gallantt Ispat listed its shares at Rs 52 versus its issue price of Rs 50 per share directly raising to a high of Rs 72.25 (44.5%). The company expects positive growth this year and results may vary in 10-11 as it is under installation. But results are expected to be good in 11-12.

Shres will be listed on October 12 says Tecpro Systems

Tecpro Systems plans to list its recently issued equity shares through public issue on Tuesday, October 12, 2010 with Rs 340-355 a share at higher end of price tag. The company accrued Rs 268 crore via IPO with Rs 222 crore for the company and balance Rs 46 crore for selling shareholder.

Tara Jewels files DRHP for its Rs 200 crore IPO

Tara Jewels expects to enter into capital markets with its IPO of Rs 200 crore after filing DRHP with SEBI. The issue consists of fresh issue till Rs 150 crore with an offer for sale till Rs 50 crore. Reservation till 1% of issue size for the eligible employees is also included.

Filed DRHP and decreased IPO says Tara Health Foods

Tara Health Foods is ready to enter capital market again after filing draft prospectus for second time with SEBI. The company had withdrawn Rs 185 crore IPO because of poor response in May 2010. At present, they are planning to accrue Rs 160 crore versus earlier issue of Rs 185 crore.

BSE Sensex dips 0.32% as market slows down again

The BSE 30-share Sensex lost 65.06 points or 0.32% to 20,250.26. The Sensex fell 169.58 points at the day's low of 20,145.74 in late trade. The index rose 93.87 points at the day's high of 20,409.19 in early trade.

The S&P CNX Nifty was down 16.85 points or 0.28% to 6,103.45.

The BSE Mid-Cap index fell 0.47% and underperformed the Sensex. The BSE Small-Cap index shed 0.28% and outperformed the Sensex. Both these indices reversed initial gains.

BSE clocked turnover of Rs 4799 crore, lower than Rs Rs 6724.58 crore on Thursday, 7 October 2010.

Market Breadth:

Positive 1117 Negative 1856 Unchanged 95
From the 30 share Sensex pack, 20 fell and rest rose.

Expect to accrue $300m via PE says GVK Power

GVK Power expects to accrue around $300 million through private equity route for its airport unit as the discussions under process with Standard Charted, Morgan Stanley and TPG capital for the airport stake sale. The company plans has decided in-principle to invest in energy unit.

Order worth $18.3 million received by Mcnally Bharat Engineering

Mcnally Bharat Engineering Company Limited has received an order worth $18.3 million from Konkola Copper Mines, PLC in Nchanga, Zambia for a Copper Concentrator Plant & Flotation Circuit to be completed within 12 months. The company has informed to BSE regarding this matter.

Aiming for 350 mw in March 2011 and 800 mw by March 2011 says OGPL

Orient Green Power Company which listed its shares today had a poor response as sellers immediately weighed in on stock and were disappointed. Vice Chairman and Executive Director, T Shivaraman, said they aim 350 megawatts by FY March 2011 and by March 2012, 800 megawatts or more is expected.

Ramky Infrastructure expects profit this year

Ramky Infrastructure which was listed at Rs 471.55 versus the issue price of Rs 450 a share increased by 4.8%, but the share went below its issue price during its early trade. Executive Chairman of Ramky Infra, A Ayodhya Rami Reddy, said all the latest developments in their company.

Enam Securities thinks Coal India IPO is game changer

IPO of Coal India (CIL) is open for subscription on October 18, 2010 offering 63.16 crore equity shares. This is an offer for sale from President of India. Enam Securities Dharmesh Mehta said CIL's IPO is a game changer as it can bring more retail investors back to the markets.

IPO was subscribed 7.89 times says Oberoi Realty

IPO of Oberoi Realty was subscribed 7.89 times till now which is really a good response from QIBs as they plan to increase Rs 1000 via IPO with 395.62 equity shares. The issues bid was 25.6 crore equity shares versus issue size 3.24 crore, QIBs reserved portion subscribed 12 times.

BSE Sensex slumps 1.11% as market in deep downturn

The BSE 30-share Sensex fell 227.76 points or 1.11% to 20,315.32. The index rose 38.21 points at the day's high of 20,581.29 in early trade. The Sensex fell 270.31 points at the day's low of 20,272.77 in late trade.

The S&P CNX Nifty fell 66.15 points or 1.07% to 6,120.30.

The BSE mid-cap and small-cap indices reversed initial gains. The BSE Mid-Cap index fell 0.68% and the BSE Small-Cap index fell 0.89%. Both these indices outperformed the Sensex.

Barring the BSE Healthcare index, all the other sectoral indices on BSE declined. The BSE Realty index (down 2.8%), Metal index (down 1.7%), IT index (down 1.3%), and Capital Goods index (down 1.26%), underperformed the Sensex. The BSE Healthcare index (up 0.34%), Oil & Gas index (down 0.52%), Power index (down 0.71%), FMCG index (down 0.75%), PSU index (down 0.77%), banking sector index Bankex (down 0.84%), Auto index (down 1.06%) and Consumer Durables index (down 1.1%), outperformed the Sensex.

BSE clocked turnover of Rs 6692 crore, lower than Rs 7422.92 crore on Wednesday, 6 October 2010.

Market Breadth:

Positive 1188 Negative 1814 Unchanged 93
From the 30 share Sensex pack, 23 fell and rest rose.

GVK Power plans to accrue $300 million

Vice chairman of GVK Industries, Sanjay Reddy, said the company has made plans for their expansion to accrue $300 million. GVK Power has 4,400 megawatt under construction and expects 10,000 mw capacity in 3-5 years and also anticipates regulatory clearance for the sale of merchant power by the regulator.

Deepak Parekh: No worries about markets

HDFC Chairman Deepak Parekh is not worried about increasing markets as he believes market is not sitting on a bubble. IPO will not limit liquidity from the system. But he gets worried about commercial real estate space due to over-supply and prices may come down soon due to no takers.

Government plans 5-10% stake in IOC and ONGC

The petrol prices in June was deregulated by government as they aim to free diesel prices and Indian Oil Corp (IOC) expects diesel prices to be freed during their FPO. The government plans to add 5-10% stake in IOC and ONGC via separate FPOs to earn Rs 240 billion this FY.

Order worth Rs 677 crore received by Gail (India)

Gail (India) Ltd has received an order worth Rs 677 crore by Dabhol - Bangalore Pipeline for pipeline construction. The company has informed to BSE regarding this matter with a report dated October 06, 2010. This order has been taken into full steam by Gail.

Expect 100 million euro revenue from Italy says Gitanjali

Gitanjali Gems plans to complete bid within 2-3 weeks for acquiring Italy's DIT Group's brands. Gilles Moutounet said 20 million euros been reserved for acquisition that includes four brands of DIT Group and one from Mariella Burani Fashion Group after aiming 100 million euro revenue from Italy in 3 years.

Food price index increases 16.24% in Sept 25

The food price index has increased by 16.24% in the year to Sept 25 versus 16.44% in its previous week after wheat, pulses and cereals prices went down. Food prices are big worries for the present government as state elections are held this year.

Aluminum operations postponed says Vedanta

Vedanta delayed its expansion of aluminum operations after its plan to mine the raw material to produce metal rejected by government of India. The production report showed aluminum output in 3 months till September end which is second quarter in the current financial year improved by 35% to 162,000 tonnes after Jharsuguda smelter continued.

Bharti Airtel join Ericsson, Huawei for mobile network in Bangladesh

Bharti Airtel plans to partner Ericsson and Huawei to develop and control its mobile network in Bangladesh. The financial details has not yet been announced by Bharti Airtel but they Ericsson may control major network capacity of the company in Bangladesh.

Eros 4.6 lakh shares purchased by Indus India Fund Mauritius

Eros International Media's 4.6 lakh equity shares which was trading at Rs 198.45 per share, up Rs 8.40 or 4.42% per share has been bought by Indus India Fund Mauritius at Rs 195 per share yesterday. There were 19 bulk deals in the stock.

SBI Caps, IDFC and ICICI Securitie oppointed as lead managers for SCI

Chairman and Managing Directors of Shipping Corporation of India (SCI) said they plan to file prospectus for their FPO expected in financial year which has 10% disinvestment from Centre and issue of 10% equity shares. The company also selected three lead managers, SBI Caps, IDFC and ICICI Securities for the issue.

Career Point 13.6 lakh shares purchsed by HDFC, Reliance MF

Career Point Infosystems shares have faced big buying interest on listing day. On Wednesday, almost 13.6 lakh shares were purchased by HDFC MF and Reliance MF in which 6,44,740 shares at Rs 513.67/share by HDFC MF MIP and 2,14,504 shares at Rs 521.95/share by HDFC Mutual Fund were purchased.

FPO doubtful in November says SAIL

Steel Secretary PK Misra said the FPO of SAIL which had been eagerly awaited may be doubtful in November 2010 as they are still considering the price for the FPO and they need to check the impact of Coal India IPO on the market.

BSE Sensex surges 0.66% on strongest market conclusion in nearly 3 years

The BSE 30-share Sensex rose 135.37 points or 0.66% to 20,543.08, its highest closing since 14 January 2008. The index surged 262.24 points at the day's high of 20,669.95 in early trade.

The Sensex rose 39.34 points at the day's low of 20,447.05 in mid-afternoon trade.

The S&P CNX Nifty rose 40.65 points or 0.66% to 6,186.45, its highest closing since 14 January 2008. Nifty hit high of 6,223.40 in early trade, its highest level since 15 January 2008.

The BSE Mid-Cap index rose 1.10% and the BSE Small-Cap index rose 0.75%. Both these indices outperformed the Sensex.

BSE clocked turnover of Rs 6111 crore, lower than Rs 7326.80 crore on Tuesday, 5 October 2010.

The BSE Realty index (up 2.75%), Metal index (up 2.25%), Oil & Gas index (up 1.09%), Capital Goods index (up 0.95%) and PSU index (up 0.84%), outperformed the Sensex.

The BSE Power index (up 0.62%), Consumer Durables index (up 0.57%), IT index (up 0.56%), Auto index (up 0.43%), banking sector index Bankex (up 0.16%), Healthcare index (up 0.12%) and FMCG index (down 0.35%), underperformed the Sensex.

Market Breadth:

Positive 1788 Negative 1202 Unchanged 126
From the 30 share Sensex pack, 20 rose and rest fell.

More credit growth is expected says BOB

Bank of Baroda's year-on-year credit growth increased as the industry expects more than 19% credit growth says MD Mallya, chairman and MD. There were signs of credit pickup and credit delivery in last few months, complete things yet to arise as healthy pickup seen in credit area, he added.

Rain and higher prices increases demand for fertilizer

Demand for Indian fertilizer expected to increase by 13% to a record 60 million tonnes in 2010/11 after higher prices and rains challenged local fertilizer makers plan to increase output to go along with demand. The food grain production and fertilizer demand were 2% above normal this year.

Glenmark signs in-licensing agreement with Lay Line Genomics

A unit of Glenmark Pharmaceuticals has finalized a in-licensing agreement with Lay Line Genomics to market antibody 'BXL1H5' which is a pain-killer monoclonal antibody for TrkA receptor used for chronic pain which will be made by Switzerland's Glenmark's biologic research and development center.

DQ Entertainment makes a deal with French company

DQ Entertainment has made a co-production deal with French company for the animated series of Lassie and Friends. The deal with Super Prod and Story Board in association with French broadcaster TF1 has a pre-sales budget of 7 million euros around the world.

Plan to acquire logistics BPO says Four Soft

Four Soft expects to involve into latest verticals and services offerings in FY 2011 as they are planning for acquiring logistics BPO companies which needs to be done to enter into business process outsourcing (BPO) services within.

Middle East market is operational says Aqua Logistics

Aqua Logistics aims on accumulating revenues of about Rs 80 crores with a profit of Rs 6-8 crores from its work at Middle East next year and the work in the Middle East market has been started via a unit in Sharjah to give continuous services.

Crucell recommends Johnson & Johnson's offer

Crucell expects to get an unchanged offer of 24.75 euros per share even though few investors asking for more. Johnson & Johnson's offer of 1.75 billion euros has been recommended by Crucell management to shareholders as it contains 58% premium over Crucell's closing price on September 16.

Edserv may receive orders worth Rs 80-100 crore

Chairman and CEO of Edserv Softsystems Ltd S Giridharan said they may get a deal worth Rs 80 crore to Rs 100 crore from government in FY11 due to increased thrust to start skill upgrade and extension institutes and it is expected to be double of that next year.

Shares listed at Rs 461.10 says Career Point

Career Point Infosystems shares have been listed at Rs 461.10 versus its issue price of Rs 310. After reaching high of Rs 560 and low of Rs 436 in early trade shares were trading at Rs 533 with a premium of 72% and traded volume at 43.47 lakh shares.

Eros International plans 50% CAGR growth

Eros International Media shares which had issue price of Rs 175 a share has started at Rs 205.45 on NSE with premium of 17.4%. Executive chairman of Eros International Kishore Lulla said they expect to develop at 50% CAGR in 2-3 yrs including its focus on PAT and cash flow levels.