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Showing posts from May 11, 2008

Tech Mahindra reboots on talks of large order win

Tech Mahindra surged 4.02% to Rs 971 at 11:21 IST on BSE on reports the company has bagged a $700-million contract from BT Group to improve its IT infrastructure. On BSE, 1.09 lakh shares were traded in the counter. The scrip had an average daily volume of 85,582 shares in the past one quarter. The stock hit a high of Rs 990 and a low of Rs 961 so far during the day. The stock had a 52-week high of Rs 1584.30 on 28 May 2008 and the stock hit a 52-week low of Rs 614.80 on 17 March 2008. The mid-cap scrip had underperformed the market over the past one month till 15 May 2008, gaining 2.34% compared to the Sensex's return of 6.83%. It had outperformed the market in the past one quarter, rising 38.37% compared to Sensex's decline of 4.20%. The company's current equity is Rs 121.44 crore. Face value per share is Rs 10. The current price of Rs 971 discounts its Q3 December 2007 annualised EPS of Rs 64.77, by a PE multiple of 14.99. BT is Tech Mahindra's large…

kirloskar brothers surges on new order win

Kirloskar Brothers surged 5.75% to Rs 254 at 11:25 IST on BSE after the company said its joint venture firm has received an order worth Rs 933.76 crore from the Andhra Pradesh state government's Irrigation & CAD Department for building a pump house.


The company made this announcement after trading hours on Wednesday, 14 May 2008.
Meanwhile, the BSE Sensex was up 266.76 points, or 1.57%, to 17,245.11, following a rise in US stocks on Wednesday, 14 May 2008, after data showed US consumer prices rose a smaller-than-expected 0.2% in April 2008. The data helped ease fears of an inflationary spurt triggered by soaring oil prices and suggested that the Federal Reserve might have more latitude to keep interest rates at 2%.
On BSE, 918 shares were traded in the counter. The scrip had an average daily volume of 30,413 shares in the past one quarter.
The stock hit a high of Rs 256.80 and a low of Rs 250 so far during the day. The stock had a 52-week high of Rs 527 on 3 October 2007 and the s…

Smooth sailing for Shipping Corporation after bonus issue plans

Shipping Corporation of India rose 6.77% to Rs 260.05 at 10:50 IST on BSE after the company said its board will consider a proposal for recommending the issue of bonus shares to Ministry of Shipping, Road Transport & Highways, Govternment of India. On BSE, 1.81 lakh shares were traded in the counter. The scrip had an average daily volume of 82,216 shares in the past one quarter. The stock hit a high of Rs 264 and a low of Rs 249.15 so far during the day. The stock had a 52-week high of Rs 332 on 3 January 2008 and the stock hit a 52-week low of Rs 154 on 22 January 2008. The mid-cap stock had outperformed the market over the past one month till 13 May 2008, rising 15.07% compared to the Sensex's return of 5.98%. It had also outperformed the market in the past one quarter, rising 23.69% compared to Sensex's fall of 1.16%. The company's current equity is Rs 282.30 crore. Face value per share is Rs 10. The current market price of Rs 260.05 discounts its Q3 …

Investors can keep IPO money till allotment

Mumbai, May 13 Investors no longer have to wait for weeks for refund of their IPO application money.The application money earmarked for an IPO will now remain in the applicant's bank account till the allotment is finalised, thus eliminating the refund process, SEBI said on Tuesday, addressing a long-standing grouse among investors, particularly in the retail segment."The modalities in this regard would be worked out separately," said a news release from SEBI, issued after its Board met on Tuesday."The Board approved, in principle, the concept of making lien on bank account as an alternative mode of payment in public/rights issues." This means that the money marked for the IPO will not be used for any other payment obligation during that period. At the same time, the applicant will enjoy the interest payable on the amount. This would also reduce the burden on registrars and merchant bankers. But bankers to the issue can no longer enjoy the floating inte…

Reliance Communication rings on new initiative

Reliance Communication rose 0.92% to Rs 555 at 12:25 IST on BSE after it formed a joint venture with Alcatel-Lucent to offer managed network services to telcom firms across the globe. Meanwhile, the BSE Sensex was up 172.64 points, or 1.02%, to 17,036.67 as a retreat in oil prices eased worries about inflation and after news of a takeover deal in the technology sector helped drive Wall Street higher on Monday, 12 May 2008. On BSE, 5.07 lakh shares were traded in the counter. The scrip had an average daily volume of 18.8 lakh shares in the past one quarter. The stock hit a high of Rs 559.60 and a low of Rs 552.55 so far during the day. The stock had a 52-week high of Rs 844 on 10 January 2008 and the stock hit a 52-week low of Rs 466.65 on 17 August 2007. India's second largest listed telecom services provider by sales had outperformed the market over the past one month till 12 May 2008, gaining 11.5% compared to the Sensex's return of 6.66%. It had however underp…

bhel

Bharat Heavy Electricals Ltd (BHEL) has informed BSE that the Company has formally taken over Bharat Heavy Plate and Vessels (BHPV). The Authority Letter was handed over by Dr. Satyanarayana Dash, Secretary, Department of Heavy Industry to Mr. K Ravi Kumar, CMD, BHEL, in a ceremony held at Vizag on May 10, 2008, in the presence of Sh. Sontosh Mohan Dev, Hon'ble Union Minister for Heavy Industries & Public Enterprises; Sh. P Chidambaram, Hon'ble Union Minister for Finance; Sh. Y S Rajasekhara Reddy, Hon'ble Chief Minister of Andhra Pradesh and Sh. S Jaipal Reddy, Hon'ble Union Minister for Urban Development.

A memorandum of Understanding for setting up the Nation's Biggest Integrated Coal Gasification Combined Cycle (IGCC) Power Plant at Vijayawada, was also signed between BHEL and APGenco.

Mphasis surges on open offer hopes

Mphasis rose 9.45% to Rs 241.50 at 11:07 IST on BSE on reports Hewlett-Packard was in talks to buy outsourcing firm Electronic Data Systems, which owns a majority stake in the Indian software firm. On BSE, 3.62 lakh shares were traded in the counter. The scrip had an average daily volume of 60,398 shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 227 so far during the day. The stock had a 52-week high of Rs 335.90 on 2 July 2007 and the stock hit a 52-week low of Rs 150.25 on 24 March 2008. The mid-cap scrip had underperformed the market over the past one month till 12 May 2008, gaining 4.13% compared to the Sensex's return of 6.66%. It had also underperformed the market in the past one quarter, declining 10.23% compared to Sensex's return of 1.52%. The company's current equity is Rs 208.72 crore. Face value per share is Rs 10. The current price of Rs 241.50 discounts its Q4 March 2008 annualised EPS of Rs 10.9, by a PE multiple …

Realty cos now offer EMI incentives

New Delhi, May 11 Smarting under a correcting realty market and
sluggish buying sentiments, real-estate players are scrambling to
raise end-user demand through offers that promise to ease EMI burden
until possession.

So, while realty companies including Parsvnath Developers are
publicising 'No EMI until possession', others such as BPTP and
Gaursons are offering two-year EMI holiday on specific projects.

"For those who are currently living on rent, the scheme makes sense as
the EMI burden kicks-off only after possession," says Mr Amit Raj
Jain, Vice-President (Marketing) of BPTP. BPTP's group housing
project, 'Resort', in Faridabad offers a two-year 'Pre-EMI interest'
to the bank on behalf of buyers.

Parsvnath's Sonepat project, 'Parsvnath Preston', reimburses the EMIs
paid prior to possession. "Such value-addition is gaining popularity
as the customer is motivated to make the down payment and can then
relax till possession. From the point of …

It's never too late to dabble in stocks

Great returns are invariably made by investing amid panic and pessimism." Warren Buffet, one of the most successful investors globally.

Equities have traditionally outperformed all asset classes over a longer period of time. In a growing economy like India, exposure to equities is essential in the overall asset allocation of every investor. Of course, many investors know this. But there are still many others who haven't joined the 'ring' as yet, waiting for an opportune time. In fact, the recent correction from the heady level of 21,000 is an opportunity that fist-timers need to capitalise on.

Greed and fear take over

Yes, the times are uncertain and markets have been highly volatile. But remember most successful investors have made money by investing in uncertain times. That's because perceived risk and actual risk seldom go hand in hand. At 21,000 Sensex level, the actual risk was much higher but optimism was at its peak.

Similarly, at around 15,000…

MIC Electronics: Buy

Strong order wins in the domestic LED display segment and the joint-venture to tap the lucrative stadium advertising market in Latin America and Europe hold promise.Investments with a one-two year perspective can be considered in the shares of MIC Electronics, considering the bright prospects for its LED (light emitting diode) display business and potential to sharply scale up earnings. At Rs 905, the stock trades at 30 times its estimated current year earnings. This appears justified considering the company's improving margin profile (profits have more than trebled in the nine months ended December 2007 compared to the same period in the previous year) on the back of increasing contribution from the LED display business, in which there are not comparable listed peers. MIC has two key business segments — media and infotech and communication. The media business provides LED video, graphics, text displays and lighting solutions for "out-of-home" advertising at st…

21 Indian firms among world's top 100 BPOs

Twenty-one Indian companies, including Infosys Technologies, Tata Consultancy Services (TCS) and Wipro, are among the top 100 BPO firms in the world, according to a new study.Five of the Indian firms figuring among the 10 best outsourcing service providers are: Infosys (No.3), TCS (6), Wipro (7), Genpact (9) and Tech Mahindra (10), according to the study - '2008 Global Outsourcing 100' - compiled by the International Association of Outsourcing Professionals (IAOP).Accenture and IBM head the list published as an advertising feature by IAOP in the current Fortune 500 issue of Fortune magazine.The other 16 Indian companies in the list are HCL Technology (11), Mastek (16), WNS Global Services (19), Hexaware (22), ExlService (26), 24/7 Customer (28), Cambridge (36), ITC Infotech (40), KPIT Cummins (42), Patni (46), Zensar (53), MindTree (54), Mphasis (56), Aditya Birla Minacs (62), FirstSource Solutions (73) and Cross-Tab (78).The key strength of Wipro and TCS is th…