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Showing posts from June 29, 2008

Sesa Goa gains on setting record date for bonus

Sesa Goa rose 0.68% to Rs 3040 at 10:50 IST on BSE on setting record date for a 10-for-1 stock split and a 1:1 bonus issue. Meanwhile, the BSE Sensex was up 220.26 points, or 1.68%, to 13,314.37. On BSE, 36,513 shares were traded in the counter. The scrip had an average daily volume of 1.84 lakh shares in the past one quarter. The stock hit a high of Rs 3050 and a low of Rs 2965 so far during the day. The stock had a 52-week high of Rs 4390 on 5 May 2008 and a 52-week low of Rs 1686.10 on 17 August 2007. The mid-cap company had outperformed the market over the past one month till 3 July 2008, declining 15.36% compared to the Sensex's decline of 15.60%. It had also outperformed the market in the past one quarter, gaining 10.51% compared to Sensex's decline of 14.66%. The company has an equity capital of Rs 39.36 crore. Face value per share is Rs 10. The current price of Rs 3040 discounts its Q4 March 2008 annualised EPS of Rs 811.28, by a PE multiple of 3.75. The…

DLF hits the roof on buyback plan

DLF surged 14.50% to Rs 421 at 15:15 IST on BSE after the company said its board will meet on 10 July 2008 to consider a buyback of equity shares. The company made the announcement during market hours today, 2 July 2008. Meanwhile, the BSE Sensex was up 742.61 points, or 5.73%, at 13711.01. On BSE, 33.94 lakh shares were traded in the counter. The scrip had an average daily volume of 13.15 lakh shares in the past one quarter. The stock hit a intra-day low of Rs 350.30, a lifetime low for the counter. It touched a high of Rs 439.90 so far during the day. The stock had hit a 52-week high of Rs 1225 on 15 January 2008. The scrip had underperformed the market over the past one month till 1 July 2008, falling 35.10% compared to the Sensex's 19.31% decline. It had, however, underperformed the market in the past one quarter, falling 40.75% compared to Sensex's 17.71% fall. DLF, India's largest real estate developer by market capitalisation has an equity capital of …

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13 Indian firms among 500 world's most valued

LONDON: Thirteen Indian firms, led by Reliance Industries, have made to the list of world's 500 most valued companies compiled by the UK business daily Financial Times (FT), even as 12 of them fell down from their previous rankings amid weak stock market trends. Excluding tobacco-to-consumer goods major ITC, all the 12 Indian companies present on the list, including RIL, ONGC, NTPC, SBI, Bharti Airtel, DLF and Reliance Communications, saw their rankings drop in the latest FT Global 500 list, topped by American e nergy giant ExxonMobil with a market value of $452.5 billion. The FT publishes the list based on the market capitalisation of the companies at the end of every quarter and the latest rankings are based on March-end figures for this year. The previous list was based on market cap figures at the end of December 2007. In the global list, ExxonMobil has replaced China's PetroChia as the most valued firm, while US industrial conglomerate GE has retained its th…

What has changed with MF portfolios

K. VenkatasubramanianAdvertisementDomestic mutual funds have unflaggingly pumped money into Indian stocks in 2008, even as foreign institutional investors have been queuing up at the exit doors. With valuations for many fancied stocks and sectors ruthlessly whittled down, buying opportunities have certainly been aplenty in this period. But where have the managers of India's largest mutual funds actually seen buying opportunities? Which are the sectors they have stayed away from? Have they used the ya wning valuation gap between large and mid-caps to add to the latter? Business Line sought answers to these questions by going over the portfolios of the 15 largest diversified equity funds starting from August 2007 to May 2008. The analysis shows that last year's hot sectors — capital goods, metals, banking and financial services — are still on the "buy" list, though a few funds have also pegged up allocations to defensive sectors such as IT services and pharm…