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Gammon Infrastructure Projects (GIPL) IPO to hit market on Mar. 10
2008-03-07 10:46:00
Mumbai-based Gammon Infrastructure Projects (GIPL), an infrastructure development company, came out with initial public offer to raise maximum of Rs 3.31 billion to fund its expansion plans. The company priced its issue in the range of Rs 167 to Rs 200 a share. The issue opens on March 10 and closes on March 13. The shares of the company will listed on BSE and NSE both.GIPL intends to deploy the issue proceeds to fund the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar; to contribute to a part of the investment required by GICL, our subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh; to contribute to a part of the investment requir...
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Rupee drops 0.59% at 40.53/USD
2008-03-07 10:33:00
The Indian Rupee dropped 0.59% against the US Dollar on Mar. 07, 2008. The Reserve Bank of India`s (RBI) reference rate for the US Dollar stood at Rs 40.53 on Mar. 07, 2008 as against Rs 40.29 on previous day i.e. Mar. 05, 2008. Similarly, the domestic currency weakened 1.91% versus the Euro on the same day. The reference rate for Euro stood at Rs 62.40 on Mar. 07, 2008, as against Rs 61.23 on Mar. 05, 2008. As revealed in the table below, the local currency dropped 1.96% against the Great Britain Pound (GBP), and 1.39% against the Japanese Yen (taking into account 100 Yen). Date Currency 1 GBP 100 YEN Mar. 5, 2008 79.9757 38.94 Mar. 7, 2008 81.5443 39.48 Source: RBI Note: The reference rate is based on 12 noon rates of a few select banks in Mumbai. The SDR-Rupee rate will be based on this rate. The exchange rates of GBP and Japanese Yen against the Rupee are based on the reference rate for US Dollar and middle rates of the cross currency quotes at 12 noon today.

Inflation breaches 5% mark after 10 months
2008-03-07 09:52:00
Wholesale prices-based inflation rate rose to a ten-month high of 5.02 per cent for the week ended February 23, as food and some manufactured products turned costly. Inflation rate for the previous week was at 4.89 per cent and was last above five per cent on May 19, 2007 (5.06 per cent). The Wholesale Price Index-based inflation rate stood at 6.20 per cent in the corresponding week a year ago. During the week under review, prices of fish marine, mutton, fruits, vegetables and milk went up, while the rates of arhar and moong declined. However, the index for fuel, power, light and lubricants remained unchanged. The government had raised petrol and diesel prices on February 14. Among manufactured products imported edible oil, vanaspati, coconut oil, mustered oil, got expensive.
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Oil May Decline as Economic Slowdown Cuts Demand
2008-03-07 08:29:00
Crude oil may fall next week on signs that fuel consumption in the U.S. will drop because of a weakening economy and the end of the heating season.Total implied fuel demand averaged 20.6 million barrels a day in the past four weeks, down 3.4 percent from a year earlier, an Energy Department report on March 5 showed. U.S. gasoline stockpiles rose 1.66 million barrels to 234.3 million last week, the highest since January 1994.The crude-oil market may continue to draw buying in the near term based on financial factors such as the weakness in the U.S. dollar, but at some stage we think the weakness in the physical market, where gasoline inventories are at the highest level since the 1990s, may gain wider notice.Energy and metals prices have surged over the past year as the U.S. dollar plunged, prompting investors to seek a hedge against inflation. The euro climbed to a record $1.5378 yesterday. Crude oil for April delivery rose $3.63, or 3.6 percent, to $105.47 a barrel so f...
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Gold hits a new peak of Rs 13,050
2008-03-07 08:28:00
Gold prices rose by Rs 400 to hit a new peak of Rs 13,050 per ten grams on the bullion market in New Delhi, on Thursday (Mar. 06, 2008), on buying interest sparked by reports of the precious metal touching an all-time high in London. Silver joined the rally as its price in overseas markets touched an over 27-year high. Silver ready surged Rs 1,200 to a new peak of Rs 25,000 per kilo. In London, gold surged to a record USD 995 an ounce. And the US currency fell to USD 1.53 per euro, the weakest since the euro`s debut in 1999. The dollar also slid to 103.7 yen.
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Market Rumour : SEBI to investigate Reliance group stocks price movement
2008-03-07 06:58:00
SEBI has given the order to investigate the Reliance group stocks price movement during last one year to find out how prices have moved so higher in 1 year.Meanwhile Reliance Energy Limited has informed the Exchange vide its letter dated March 05, 2008 that "At the meeting of the Board of Directors of Reliance Energy Limited held on today the Board has approved a proposal to buy-back the equity shares of the company". Further the Company has submitted a copy of media release dated March 05, 2008, titled "Reliance Energy Board approves share buy-back of up to Rs.2,000 crore (US$ 500 million), in two phases; First tranche of up to Rs.800 crore (US$ 200 million) effective immediately, based on Board approval; Second tranche of additional Rs.1,200 crore (US$ 300 million) based on shareholders' approvals to be obtained; Buy-back of shares at up to Rs.1,600 per share through transparent open market purchases; Buy-back Price represents approx. 10% premium over today's closing price". A c...
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Chinese shares open 0.98 pc lower
2008-03-07 06:45:00
Chinese share prices opened 0.98 per cent lower on Friday with investors taking their cue from a sharply weaker Wall Street amid further turmoil in the US credit markets, dealers said. Investors were unsettled with the Dow Jones Industrial Average closing down 1.75 per cent on Thursday after Thornburg Mortgage and a Carlyle Group bond fund revealed troubles with mortgage-backed investments, they said. Ping An Insurance led the financial sector lower after strong gains in the previous session. It surged nearly eight percent on Thursday after shareholders approved the company's fund-raising plan. The benchmark Shanghai Composite Index, which covers both A and B shares, shed 42.69 points to 4,318.30. The Shanghai A-share Index fell 44.73 points or 0.98 per cent to 4,530.90 points while the Shenzhen A-share index was down 4.70 points or 0.32 per cent to 1,456.45.
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Sensex tumbles 517points
2008-03-07 06:23:00
The 30-share benchmark index, the Sensex , opened with a negative gap of 330.12 points at 16,211.96 mirroring weak global cues in the early deals. Banking, realty and IT sectors are worst hit.Asian markets declined in the early session on Friday (Mar. 07, 2008), set for the largest weekly drop since August 2007, on concern that the credit losses will increase and after commodity prices declined.The Sensex is currently trading at 16024.79, down 517.29 points, ; while the broad based NSE Nifty is trading at 4,767.30, down 154 points (11 a.m.). Out of the total 1,907shares traded, 162 advanced, 1719 declined and 26 remained unchanged. Among the sectoral indices traded, BSE Auto declined 2.51%, Bankex dropped 3.78%, Metal dipped 2.48%, Power shed 4.89% and Realty was down 4.91%. Laggards on the BSE Sensex were REL, which tanked 7.23% to Rs 1,353.00, ICICI Bank and DLF dropped over 4% each to Rs 912.55 and 650.50 respectively. Maruti, Satyam, HDFC Bank, RComm, NTPC, Infosys and SBI a...

Clarus Finance drops preferential issue on poor mkt condition
2008-03-07 06:23:00
The board of directors of Clarus Finance & Securities, at its meeting held on Mar. 06, 2008, decided to drop the plan of issue of shares on preferential allotment basis, in view of the poor stock and financial market situation.Mittal Securities Finance changed its name to Clarus Finance and Securities in October 2007. The company is engaged in the business of financial activities. The main activities of the company include share & stock broking, investment in shares & stocks, dealing in shares & stocks (future & options), miscellaneous consultancy, dealing in shares & stocks (delivery based); and sale of investments. Shares of the company declined Rs 0.02, or 0.25%, to trade at Rs 7.95. The total volume of shares traded was 7,175 at the BSE. (10.25 a.m., Friday)
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NHPC Ipo likely to hit market in July-August
2008-03-07 06:22:00
Power sector giant NHPC is likely to approach market regulator SEBI by May for its Initial Public Offer. The company is waiting for the appointment of independent directors. The company is likely to hit the market around July -August this year and submit revised draft prospectus with SEBI, based on current fiscal`s financial performance on March 31. NHPC, which has a paid up capital of Rs 115 billion, is likely to come out with a public offer of 1.67 billion shares, which would add 10% as fresh equity besides 5% disinvestment. The shares would be of face value of Rs 10 each. The proceeds from IPO would be used to part finance the Rs 280 billion expansion plan of NHPC, which has set an ambitious target of becoming a 10,000 mw power generation company during the 11th plan period. This will be the biggest IPO in the power sector with 1.67 billion shares on sale.
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GAIL eyes ADBs 5.2% stake in Petronet LNG
2008-03-07 06:22:00
GAIL India is looking for acquiring Asian Development Bank`s 5.2% stake in India`s biggest liquefied natural gas importer Petronet LNG.ADB is likely to offloads its stake in Petronet by the 2008 end. GAIL, Oil and Natural Gas Corp, Indian Oil and Bharat Petroleum, which hold 12.5% stake each in Petronet, have the first right of refusal in case ADB was to offload its shareholding in the company.In case other promoters are not interested in selling the stake, State gas firm would be ready to look for the other options of buying the entire 5.2% of equity.Shares of GAIL gained Rs 4.8, or 1.21%, to end at Rs 403.1. The total volume of shares traded was 124,777 at the BSE.
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GSS America Infotech lists at issue price
2008-03-07 06:20:00
Equity shares of Hyderabad-based IT solution provider, GSS America (Q, N,C,F)* Infotech, got listed at the bourses today (Mar. 7, 2008). Shares of the company got listed at its issue price of Rs 400 a share on the Bombay Stock exchange (BSE). The scrip was last trading at Rs 448.30. A total of 358,444 shares changed hands on BSE (9.56 a.m.). The scrip has hit a high of Rs 475 and a low of Rs 400. The company issued its shares at floor price of Rs 400 a share. The company`s issue had subscribed about 1.08 times, according to provisional date available with the NSE on the day of closing. GSS America proposes to utilize the net proceeds of the issue for setting up of state of the art Global Delivery Centre (GDC) at Hyderabad with 1,000 seater capacity, setting up overseas offices, meeting working capital requirement and for acquisitions. Presently, the company is operating in India from its two global delivery centers in India, one at Jubilee Hills, Hyderabad and second at Hitech City...
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UTI Mutual Funds IPO may hit the market in April
2008-03-07 05:24:00
UTI Mutual Funds Initial Public Offer (IPO) is likely to hit the stock market in April 2008, reports Business Standard.The mutual fund house, which had earlier fixed the IPO price band, is likely to cut the offer price of its 48.5 million shares IPO, due to the sharp fall in the stock markets.State-run UTI MF suffered a dip in its assets in February, which stood at Rs 524.64 billion compared to Rs 526.56 billion in the previous period.
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Franklin Templeton MF declares 30% dividend on Flexi Cap Fund
2008-03-07 05:23:00
Franklin Templeton Investments (India), one of the largest fund houses in the country has announced a tax-free dividend of Rs 3.00 per unit on a face value of Rs 10, on its fund - Franklin India Flexi Cap Fund , which is one of the largest equity funds in the country.All investors registered in the dividend plan as on Mar. 12, 2008 will receive this tax-free dividend. Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout.There will be a one-day book closure for the growth and dividend plans in the fund on Mar. 13, 2008 and will reopen for fresh purchases and redemptions on Mar. 14, 2008.Under the dividend reinvestment plan, the dividend declared will be reinvested in the fund at the NAV of Mar. 14, 2008 and unit-holders will be allotted additional units for the dividend amount.Franklin India Flexi Cap Fund was launched in March 2005 as an open end equity scheme. The fund manages over Rs 31.25 billion of assets for over 425,000 investor accounts.
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Bosch net rises 91.51% for Dec 2007 quarter
2008-03-07 05:22:00
Bosch, formerly know as MICO, has disclosed a phenomenal jump in net profits for the quarter ended in December 2007. During the quarter, the company experienced a 91.51% rise in profits to Rs 1,244.10 million from Rs 649.60 million in the quarter ended December 2006. Net sales for the quarter rose 15.08% to Rs 11,070.20 million compared with Rs 9,619.40 million in the corresponding quarter, a year ago. Total income rose 17.51% to Rs 12,418.70 million for the quarter ended December 2007 from Rs 10,567.80 million for the same period last year. The basic and diluted EPS after extraordinary item increased 91.13% to Rs 38.80 for the quarter ended December 2007 from Rs 20.30 for the same quarter last year. Quarter ly Standalone Dec 07 Dec 06 %Change Total Income 12,418.70 10,567.80 17.51 Net Profit 1,244.10 649.60 91.51 EPS 38.80 20.30 91.13 Annual Result: The company posted a net profit of Rs 6,092.10 million for the year ended Dec. 31, 2007 as compared with Rs 5,480 million ...

Market likely to decline
2008-03-07 05:20:00
On Wednesday, the BSE Sensex gained 202.19 points, or 1.24% to end the day at 16,542.08, while the broad-based NSE Nifty ended at 4,921.40, up 56.85 points or 1.17%.Broker`s OutlookNitin Kunte, technical advisor, Angel Trade expects markets to trade in a range of 5050 to 5100. Market will continue to follow global cues on Friday, added Nitin. He also states that any intraday correction on Friday can be seen as an buying opportunity.US stocks declined on Thursday due to bad news in the housing, mortgage and credit markets. The Dow Jones industrial average fell 1.8% to 12,040.39, while the Nasdaq fell 2.3% to a 17-month low of 2,220.50.Crude oil prices rose on Thursday (March 6), boosted once more by the dollar`s continuing slide to new lows against the euro. Light sweet crude for April delivery rose 95 cents to settle at a record USD 105.47 a barrel on the New York Mercantile Exchange (NYMEX). April gasoline futures rose 1.11 cents to settle at USD 2.6532 a gallon.Asian markets decli...

SEBI to cut time between IPO close and listing
2008-03-06 17:25:00
In an attempt to lessen scope for price manipulation, the market regulator Securities and Exchange Board of India (SEBI) plans to reduce the time between the close of initial public offerings (IPOs) and their listing, said the new Chairman C B Bhave. As the board would soon consider proposals by a committee on this issue, institutional investors may have to pay a higher amount of commitment money than the current 10 percent, he said, while speaking to reporters following his first board meeting after taking charge. The SEBI board also slashed fees for stock market intermediaries on filing offer documents for public issues, rights issues and mutual funds by 80 percent. The new fee structure will come into effect from April 1, 2008, benefiting small investors investing in mutual funds. Meanwhile, the regulator also constituted a committee comprising independent board members to take forward investigations into an IPO scam in 2006 that saw manipulators opening thousands of demat acco...
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ForthComing Ipo : Sita Shree Food Products Ltd
2008-03-06 11:29:00
Sita Shree Food Products Ltd.332/4/2, R D, Udhyog Nagar, Palda Nemawar Road, Indore, Madhya Pradesh - 452001Phone: 2862122 Fax: 2862121Public Issue of 1,05,00,000 equity sharesof Rs 10 each for cash at apremium of Rs 20 per share.Issue details Issue open Issue close11 Mar, 2008 14 Mar, 2008Issue price (Rs) Total size (Rs)30.00 31.50 CroresQIB Non-Institutional Retail Employee52,50,000 15,75,000 36,75,000 -Lead Managers RegistrarKEYNOTE CORPORATE SERVICES LTDANKIT Consultancy Private Limited2nd Floor,, Alankar point, Gita Bhawan Chouraha, Indore, Madhya Pradesh - 452001Phone: 2491298 Fax: 5065798

ForthComing Ipo : Gammon Infrastructure Projects Ltd.
2008-03-06 11:28:00
Gammon Infrastructure Projects Ltd.Gammon House, Veer Savarkar Marg, Prabhadevi, Mumbai, Maharashtra - 400025Phone: 66614000 Fax: 66614025Public Issue of 1,65,50,000 equity sharesof Rs 10 each for cash at apremium of Rs 190 per share.Issue details Issue open Issue close10 Mar, 2008 13 Mar, 2008Issue price (Rs) Total size (Rs)200.00 331.00 CroresQIB Non-Institutional Retail Employee89,37,000 14,89,500 44,68,500 16,55,000

Warren Buffet replaces Bill Gates as world's richest person
2008-03-06 05:19:00
US financier Warren Buffett has overtaken Bill Gates as the world's richest man, according to Forbes annual billionaire's list, which this year saw Russia, China and India making increasing inroads. Buffett, the 77-year-old chief of the Berkshire Hathaway holding company, saw his wealth jump from 52 billion dollars last year to 62 billion, pushing Microsoft co-founder Gates into third position after 13 years at the top. Mexico's telecom mogul Carlos Slim Helu grabbed second place with a tidy nest egg of 60 billion dollars, up from 49 billion last year. Buffett, who announced in 2006 he was giving the majority of his fortune to the Bill & Melinda Gates Foundation, saw his wealth spike mostly due to the rising value of his Berkshire Hathaway stock. In total, this year's list sees 1,125 people around the world making the billionaire's list, up from 946 last year. Their total net worth stands at 4.4 trillion dollars, up from 3.5 trillion dollars in 2007. By na...
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Intraday calls for the day
2008-02-19 05:35:00
markets likely to remain range bound today with support at 5200 and resistance at 5380 levels, it would be advisable to buy on dips and sell on highs,,,,,,,,,,,,,,,,,,,,,,,,,,10:00 AMBEST BUYS SCRIP RECOM. RATE TARGET 1 TARGET 2 STOP LOSS PRAJ IND ABV 187 196 205 183 BHARAT FORGE ABV 300 318 331 295 GUJ NRE COKE ABV 128 134 141 125 UTTAM SUGAR ABV 89 93 96 87 10:00 AMBEST SELLS SCRIP RECOM. RATE TARGET 1 TARGET 2 STOP LOSS JINDAL STAINLESS BELOW 157 149 144 160 REL POWER BELOW 420 405 395 426 IBULLS REAL EST BELOW 650 620 600 658 KNR CONST BELOW 159 150 143 162 10:00 AMBUY BAJHIN (BAJAJ HINDUSTAN) CMP 272.8 Target 279 and 284 StopLoss 267.1 10:03 AMDelivery UY ESSOIL (ESSAR OIL) CMP 236 Target 263 and 285 StopLoss 209BUY IBREALEST 640 SL 635 TGT 648 652 655 10:06 AMBuy sugar stocks for trading ............................ 10:07 AMBUY SUZENE (SUZLON ENERGY) CMP 331 Target 337 and 343 StopLoss 327.BUY SAIL CMP 229.25 Target 234 and 237 StopLoss 225.1 10:28 AMEssarrrr 235 10:55 AMBUY...
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BEML approves 55% dividend
2008-02-18 10:56:00
The board of directors of BEML at its meeting held on Feb. 18, 2008 approved payment of interim dividend of 55% on the paid-up share capital of the company for the year 2007-08. The company registered a 11.84% growth in net profit to Rs 592.40 million for the quarter ended December 2007 as compared with Rs 529.70 million for the corresponding quarter last year. Shares of the company were last trading down Rs 34.50, or 2.82% at Rs 1188. The total volume of shares traded at the BSE was 12,923. (3.02 p.m, Monday).
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Today's market calls
2008-02-15 05:41:00
BEST BUYSSCRIP RECOM. RATE TARGET 1 TARGET 2 STOP LOSSBUY CROMPTON GREAVES ABV 300 320 335 292BUY BHEL ABV 2180 2280 2370 2163BUY YES BANK ABV 232 245 260 227BUY JAGRAN ABV 107 117 125 104 9:41 AMBEST SELLSSCRIP RECOM. RATE TARGET 1 TARGET 2 STOP LOSSSELL JP ASSOCIATE BELOW 279 260 245 285SELL ITC BELOW 201 196 193 204SELL UNITED PHOS BELOW 318 300 290 325SELL IVRCL INFRA BELOW 416 400 390 423 9:41 AMNews:L&T secures Rs 311 crore order for 66/11 kV substation works in Qatar From Qatar General Electricity and Water Corporation.BHEL has bagged an order worth Rs 200 crore from ONGC for supplying oil field equipment.IFCI said that their current CAR stands at over 18% and that their net owned funds are positive. And they dont need any equity infusion as of now. Mr. Rai said they are not looking for investment till there is clarity on the capital structurePunj Lloyd received a $400 million (Rs1,119.2 crore) project from Marina Bay Sands Pte Ltd, Singapore.Orchid Chemicals has receiv...
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Natural Gas futures trade in negative
2008-02-14 12:49:00
Natural Gas future sees downward trend at MCX on Thursday. Natural Gas February contract was trading down 0.18%, at Rs 335.30 a mmBtu. It opened at Rs 335.50 a mmBtu as compared to previous closing of Rs 335.90 a mmBtu. (4.45 p.m., Thursday)However, Natural Gas March contract was trading down 0.30%, at Rs 334.30 a mmBtu against previous closing at Rs 335.30 a mmBtu while it opened at Rs 335.50 a mmBtu.Natural Gas April contract was quoted at Rs 333.20 a mmBtu after opening at Rs330 a mmBtu, against previous closing at Rs 333.50 a mmBtu.
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Global Market Cues:
2008-02-14 09:43:00
UBS confirms sub-prime loss woes: The loss is the first in UBS's history Swiss financial giant UBS has confirmed that it made a loss in 2007 after exposure to the crisis-hit US housing market hit earnings. It made a full-year loss of 4.4bn Swiss Francs ($4bn; £2.02bn) during 2007, compared with a net profit of 12.3bn Swiss Francs in 2006. The US sub-prime problems have hit the balance sheets of banks worldwide. UBS management warned that it expected 2008 to be a difficult year for the firm and the industry as a whole. Japan enjoys strong growth rate There are concerns that a US slowdown will hit Japanese exports Strong export demand and business...
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Jain Irrigation slips despite overseas collaboration
2008-02-14 04:52:00
The company made this announcement during trading hours today, 13 February 2008.Meanwhile, BSE Sensex was up 272.52 points or 1.64% to 16,880.53.On BSE, 2,795 shares were traded in the counter. The scrip had an average daily volume of 44,598 shares in the past one quarter.The stock hit a high of Rs 650 and a low of Rs 612.05 so far during the day. The stock had a 52-week high of Rs 765.95 on 4 December 2007 and a 52-week low of Rs 399 on 28 February 2007.The mid-cap scrip had outperformed the market over the past one month till 12 February 2008, declining 6.55% compared to the Sensex`s decline of 19.88%. It had also outperformed the market in the past one quarter, gaining 7.71% compared to Sensex`s decline of 16.66%.The company`s current equity is Rs 68.07 crore. Face value per share is Rs 10.The current price of Rs 615 discounts its Q3 December 2007 annualized EPS of Rs 26.52, by a PE multiple of 23.19.Mekorot is a leader in water resources management, desalination, wastewater trea...
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Bihar Tubes drops despite of new order win
2008-02-14 04:52:00
The company made this announcement during trading hours today, 13 February 2008.Meanwhile, BSE Sensex was up 284.81 points or 1.71% to 16,892.82.On BSE, 22,591 shares were traded in the counter. The scrip had an average daily volume of 1.50 lakh shares in the past one quarter.The stock hit a high of Rs 131.75 and a low of Rs 121.10 so far during the day. The stock had a 52-week high of Rs 222.50 on 8 January 2008 and a 52-week low of Rs 43.50 on 7 March 2007.The small-cap scrip had underperformed the market over the past one month till 12 February 2008, declining 37.46% compared to the Sensex`s decline of 19.88%. It had outperformed the market in the past one quarter, declining 11.36% compared to Sensex`s decline of 16.66%.The company`s current equity is Rs 11.46 crore. Face value per share is Rs 10.The current price of Rs 124.55 discounts its Q3 December 2007 annualized EPS of Rs 25.88, by a PE multiple of 4.81.Bihar Tubes` net profit rose 107% to Rs 4.14 crore on 33.9% growth in n...
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BSE Mid-Cap, BSE Small-Cap index underperform the Sensex
2008-02-14 04:52:00
The BSE 30-share Sensex was up 1.11% or 184.82 points to 16,792.83The market breadth, which was positive in opening trade turned weak as small-cap and mid-cap shares succumbed to selling pressure. The BSE Mid-Cap index had underperformed the Sensex over the past one month till 12 February 2008, declining 25.22% compared to the Sensex`s decline of 20.26%. However, it outperformed the Sensex in the past one quarter, declining 11.16% compared to Sensex`s fall of 11.36%.The BSE Small -Cap index had underperformed the Sensex over the past one month till 12 February 2008, declining 27.73% compared to the Sensex`s decline of 20.26%. It had outperformed the market in the past one quarter, declining 4.64% compared to Sensex`s decline of 11.36%. Among the small-cap and mid-cap stocks, Mayut Leather (down 18.33% to Rs 24.50), Fiem Industries (down 14.26% to Rs 52), Hitech Plastics (down 13.10% to Rs 76.05), Genus Overseas (down 10.23% to Rs 490), and HEG (down 10.13% to Rs 267), declined. Howev...
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Era Infra Engineering surges on new order win
2008-02-14 04:51:00
The company made this announcement during trading hours today, 13 February 2008.Meanwhile, BSE Sensex was up 378.43 points or 2.28% to 16,986.44.On BSE, 87,168 shares were traded in the counter. The scrip had an average daily volume of 2.66 lakh shares in the past one quarter.The stock hit a high of Rs 703 and a low of Rs 677 so far during the day. The stock had a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 281.95 on 6 March 2007.The mid-cap scrip had underperformed the market over the past one month till 12 February 2008, declining 20.38% compared to the Sensex`s decline of 19.88%. It had outperformed the market in the past one quarter, gaining 20.20% compared to Sensex`s decline of 16.66%.The company`s current equity is Rs 23.10 crore. Face value per share is Rs 10.The current price of Rs 703 discounts its Q3 December 2007 annualized EPS of Rs 47.86, by a PE multiple of 14.69.The project is to be completed in 24 months.In November 2007, Era Infra Engineering ...
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Steel shares extend rally
2008-02-14 04:51:00
Tata Steel saw volumes of 8.92 lakh shares while Steel Authority of India witnessed volumes of 19.02 lakh shares on BSE. Steel shares had gained on Tuesday, 12 February 2008 after reports that steel companies will not roll back prices despite Government intervention. The representatives of the steel ministry had met with steel producers yesterday, 12 February 2008, to seek justification of price hike from the producers. It may be recalled that steel producers had hiked prices by Rs 500 to Rs 1,500 per tonne across various products in early February 2008 following increase in raw material prices. Meanwhile, the Government will be holding a meeting with major steel producers in the next two to three days again to discuss the issue of increase in prices. The Government had termed the price hike by steel companies as unreasonable. A rollback if it happens would be the second in this financial year. In March 2007, at the behest of the government, the industry went for a partial rollback ...
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