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Showing posts from October 19, 2008

IDFC slumps after results

Profit taking for a second day in a row pulled Infrastructure Development Finance Company 5.25% lower to Rs 55 at 9:56 IST on BSE, after good Q2 results. The stock had declined 6.52% to Rs 58.05 yesterday, 22 October 2008, even as it had reported decent Q2 numbers during trading hours. The stock had surged 20.82% to Rs 62.10 on 21 October 2008, ahead of the results. The BSE Sensex was down 443.06 points, or 4.36%, to 9,726.84. On BSE, 27,332 shares were traded in the counter. The stock had an average daily volume of 42.77 lakh shares in the past one quarter. The stock hit a high of Rs 56 and a low of Rs 53.60 so far during the day. The stock has a 52-week high of Rs 235 on 3 January 2008 and a 52-week low of Rs 47 on 10 October 2008. The mid-cap stock had underperformed the market over the past one month till 22 October 2008, declining 28.95% as compared to the Sensex's decline of 27.33%. It had also underperformed the market in the past one quarter, declining 37.88%…

Bhel sails against the tide on large order win

Bharat Heavy Electricals rose 2.45% to Rs 1168 at 13:32 IST on BSE, on winning a Rs 1470 crore contract from state-run NTPC. Meanwhile, the BSE Sensex was down 234.12 points, or 2.30%, to 9935.78. On BSE, 5.53 lakh shares were traded in the counter. The scrip had an average daily volume of 4.90 lakh shares in the past one quarter. The stock hit a high of Rs 1182 and a low of Rs 1072 so far during the day. The stock had a 52-week high of Rs 2925 on 7 November 2007 and a 52-week low of Rs 1085 on 20 October 2008. The stock had underperformed the market over the past one month till 21 October 2008, declining 32.35% as compared to the Sensex's decline of 27.33%. It had also underperformed the market in the past one quarter, falling 28.69% as compared to the Sensex's decline of 27.89%. India's largest electric equipment maker by sales has an equity capital of Rs 489.52 crore. Face value per share is Rs 10. The current price of Rs 1168 discounts its Q1 June 2008 an…

RIL hits 52-week low ahead of Q2 results

Reliance Industries fell 4.63% to Rs 1254.70 at 10:43 IST on BSE, on prospects of a muted growth in bottomline Q2 September 2008. Meanwhile, the BSE Sensex was down 310.13 points, or 3.05%, to 9859.77. On BSE, 3.73 lakh shares were traded in the counter. The scrip had an average daily volume of 14.19 lakh shares in the past one quarter. The stock hit an intraday low of Rs 1231, also its 52-week low. It hit a intraday high of Rs 1300 so far during the day. The stock had a 52-week high of Rs 3252.10 on 15 January 2008. The stock had underperformed the market over the past one month till 22 October 2008, declining 35.42% as compared to the Sensex's decline of 27.33%. It had also underperformed the market in the past one quarter, falling 38.93% as compared to the Sensex's decline of 27.89%. India's largest private sector firm by market capitalisation and oil refiner has an equity capital of Rs 1573.79 crore. Face value per share is Rs 10. The current price of Rs …

Reliance Petroleum Ltd - PRESS RELEASE

Reliance Petroleum Ltd has informed BSE regarding a Media Release dated October 21, 2008 titled "RPL refinery achieves 97% overall progress"

Press Release:

"Reliance Petroleum Ltd ("RPL") has achieved 97% overall progress with rapid advancement on all implementation fronts of its complex petroleum refinery, coming up in a Special Economic Zone at Jamnagar in Gujarat, India.

Construction is nearing completion and the focus has now shifted from mechanical completion to start-up. Several primary, secondary process systems and treatment units have been completed and pre-commissioning & commissioning trials of static and rotary equipments, electrical distribution and instrumentation systems are underway.

Logistics infrastructure to handle crude and products, such as tankfarm, blending systems and other storage systems, are already commissioned. Various automation systems, distributed control systems, safety & loss prevention systems are also up and…

Bank of India plunges

Bank of India declined 5.38% to Rs 273.25 at 14:17 IST on BSE, after providing for Rs 108.60 crore on account of exposure to troubled US investment bank Lehman Brothers, in Q2 September 2008. The bank announced the Q2 results during trading hours today, 22 October 2008. Meanwhile, the BSE Sensex was down 383.62 points, or 3.59%, to 10,299.77. On BSE, 14.78 lakh shares were traded in the counter. The stock had an average daily volume of 8.30 lakh shares in the past one quarter. The stock hit a high of Rs 238 and a low of Rs 221.05 so far during the day. The stock has a 52-week high of Rs 466 on 17 January 2008 and a 52-week low of Rs 189 on 1 July 2008. The stock declined 3.10% to Rs 288.80 on 21 October 207, ahead of the results. The mid-cap bank-stock had outperformed the market over the past one month till 21 October 2008, gaining 1.87% as compared to the Sensex's decline of 23.92%. It had also outperformed the market in the past one quarter, rising 6% as compare…

Buy now with 12-18 month horizon: DSP ML

Naganath of DSP Merrill Lynch AMC said the possibility of slower earnings has been discounted in the price already.He feels investors should invest over the next 3-6 months and then sit tight for another 12 months. "We may have to deal with negative sentiment that flows from global events over the next three to six-months. There will be continued de-leveraging and selling by hedge funds and others because they need liquidity. There is nothing we can do about it. But once that is passed, the next three to six-months will offer one of the best buying opportunities for an Indian investor. If one considers a holding period of 12-18 months, by late 2009 to early 2010, such an investor would find no reason to be unhappy with a buying decision over the next three to six-months."

Open offer at huge premium fuels Sah Petroleums

Sah Petroleums was locked at upper limit of 20% to Rs 17.28 at 14:23 IST on BSE, surging for the second day in a row, on open offer at a huge premium to the market price. The company made the announcement during market hours yesterday, 20 October 2008, when the stock rose 20% to Rs 14.40. Meanwhile, the BSE Sensex was up 473.87 points, or 4.85%, to 10719.36. OnThe stock had a 52-week high of Rs 29.30 on 3 January 2008 and a 52-week low of Rs 8 on 10 October 2008. The stock had outperformed the market over the past one month till 20 October 2008, rising 7.54% as compared to the Sensex's decline of 27.20%. It had also outperformed the market in the past one quarter, gaining 5.19% as compared to the Sensex's decline of 25.03%. The small-cap industrial lubricants maker has an equity capital of Rs 16 crore. Face value per share is Rs 5. The current price of Rs 17.28 discounts its Q1 June 2008 annualised EPS of Rs 4.56, by a PE multiple of 3.78. NAF India Holdings du…

Rights issue plan powers ECE Industries

ECE Industries soared 11.83% to Rs 189.50 at 10:37 IST on BSE, on proposal to raise funds by way of a rights issue. Meanwhile, the BSE Sensex was up 126.66 points, or 1.24%, to 10,349.75. On BSE, two shares were traded in the counter. The stock had an average daily volume of 2,190 shares in the past one quarter. The stock hit a high of Rs 189.50 and a low of Rs 140 so far during the day. The stock has a 52-week high of Rs 915 on 29 October 2007 and a 52-week low of Rs 133 on 17 October 2008. The small-cap stock had underperformed the market over the past one month till 20 October 2008, declining 32.02% as compared to the Sensex's decline of 27.20%. It had also underperformed the market in the past one quarter, declining 25.29% as compared to the Sensex's decline of 25.03%. The company's current equity is Rs 4.39 crore. Face value per share is Rs 10. The current price of Rs 189.50 discounts the company's Q1 June 2008 annualized EPS of Rs 4.46, by a PE mu…

LIC Housing Finance capitalises on Q2 numbers

LIC Housing Finance spurted 7.34% to Rs 242 at 14:01 IST on BSE, as net profit rose 16.06% to Rs 135.07 crore in Q2 September 2008 over Q2 September 2007. The housing finance firm announced the results during trading hours today, 21 October 2008. Meanwhile, the BSE Sensex was up 490.73 points, or 4.80%, to 10,713.82. On BSE, 2.58 lakh shares were traded in the counter. The stock had an average daily volume of 2.13 lakh shares in the past one quarter. The stock hit a high of Rs 248 and a low of Rs 224 so far during the day. The stock has a 52-week high of Rs 402.90 on 11 December 2007 and a 52-week low of Rs 192 on 22 January 2008. The stock declined 16.70% to Rs 225.45 on 20 October 2008, from the recent high of Rs 270.65 on 14 October 2008, ahead of the results. The mid-cap stock had underperformed the market over the past one month till 20 October 2008, declining 30.17% as compared to the Sensex's decline of 27.20%. It had outperformed the market in the past one q…

Ranbaxy promoters sell stake off-market to Daiichi Sankyo

Singh family has to pay transaction tax of Rs 1,000 cr.
Our Bureau New Delhi, Oct. 20 Putting to rest all speculation on the status of its deal with Daiichi Sankyo, Ranbaxy Laboratories Ltd on Monday announced that the Japanese pharma company has acquired 52.5 per cent of the company. This includes the 22 per cent acquired from the Singh family in an off-market deal, 20 per cent bought earlier through the open offer, and balance by allotment of shares through preferential basis. The entire deal will be completed after Daiichi Sankyo acquires another 12 per cent stake held by the Singh family over the next few days, which will take its total share holding in Ranbaxy to about 64 per cent. The deal with the promoters had to be taken off-market after the Securities and Exchange Board of India declined permission to carry out the stake sale through stock exchanges. "We today partly sold our stake to Daiichi Sankyo. The entire promoter stake selling will take place off-mar…

HDFC Bank: Buy

Investors can consider accumulating the HDFC Bank stock with a two-year perspective, given the bank's resilience in a challenging environment and scope for strong growth in earnings. At the current price of Rs 1,026, HDFC Bank is trading at 19 times its estimated earnings per share for 2008-09 and 3.2 times historic book value. Best-in-industry Net Interest Margins (NIMs) which provide a cushion against rising costs, a high proportion of low-cost deposits and an extensive branch network that can drive advances growth, make the stock a preferred exposure in the banking space. After including the effect of the Centurion Bank of Punjab (CBoP) merger, HDFC Bank posted a profit growth of 44 per cent, backed by net interest income growth of 66 per cent in the September quarter. NIMs at 4.2 per cent increased due to a hike in lending rates effected this quarter; the impact of this will be sustained over the next few quarters. Deposit growth was strong at 46.7 per cent, with t…