Gateway Distriparks and BHEL Bonus Issue
Monday, April 30, 2007Gateway Distriparks has proposed issue of bonus shares (one equity share for every 4 existing equity shares).
BHEL's board has recommended a bonus shares in the ratio of 1:1 (ie, One additional share for every one equity share held).
Published by Webmaster @ 3:16 PM IST.
Reliance Communications FY2007 Results
Reliance Communications [ADAG] company has declared its Q4FY07 results. The company reported Q4 net profit of Rs 1,023.3 crore on revenues of Rs 3,936.7 crore.
For quarter-on-quarter, it has posted net profit of Rs 1,023.3 crore versus Rs 924 crore (Rs 9.24 billion), a growth of 10.7% and revenues of Rs 3,936.7 crore compared to Rs 3,755.3 crore in previous quarter, up by 4.8%.
For FY07, the company has reported net profit of Rs 3,163 crore (Rs 31.63 billion) and revenues of Rs 14,468 crore (Rs 144.68 billion). Rel Comms Q4 EBITDA stood at Rs 1,635 crore (Rs 16.35 billion) and margin at 41.5%. Wireless margins in the fourth quarter was at 39%, global business margins at 24% and enterprise business margins at 49%.
Reliance ARPU for Wireless subscribers is at Rs 377, way below Bharti Airtel's ARPU of Rs 406.
Labels: Rcom-Results
Published by Webmaster @ 2:44 PM IST.
Gujarat Gas Stock Split; Jet Air A330
Gujarat Gas Company have approved sub-division of the equity shares from the present nominal value of Rs 10 per equity shear to Rs 2 per equity share.
Jet Airways India has taken delivery of its first Airbus A330 aircraft on order making the airline the first Indian based carrier to receive an aircraft in the A330 product range. The company ordered 10 Airbus A330s in October 2005.
Published by Webmaster @ 2:11 PM IST.
ICICI Bank results Lower than Expected.
ICICI Bank on Saturday posted lower-than-expected fourth-quarter earnings due to higher cost of funds. ICICI Bank’s net profit rose mere 4.45% to Rs 825.12 crore in the quarter ended March 2007, as against Rs 789.93 crore during the previous quarter ended March 2006. Total income for the bank rose 54.2% at Rs 8495 crore.
Concerns of equity dilution also weighed on the counter. Along with Q4 results, ICICI Bank’s board also approved raising additional equity capital by way of a public issue of shares and American Depositary Shares (ADSs). The exercise is expected to generate around Rs 20000 crore. The approval of shareholders will be sought by postal ballot, the private sector bank said.
ICICI Bank stock is hit by concerns of huge equity dilution and is also a Big Drag on Sensex.
Labels: ICICI Bank
Published by Webmaster @ 10:45 AM IST.
SBM, Corp Bank of Baroda declare dividend
Sunday, April 29, 2007State Bank of Mysore declared a hefty dividend payout of 100%. Rs 100 / share each of Face Value Rs 100.
Bank of Baroda also declared a dividend of Rs 3 / share and Corporation Bank declared somewhat higher dividend of Rs 5 / share each of Face Value Rs 10.
Published by Webmaster @ 2:57 PM IST.
Order Book and Good Results - ABB Hits New High
Friday, April 27, 2007ABB’s net profit jumped 69% in Q1 March 2007 at Rs 86.63 crore (Rs 51.30 crore). Sales rose 63% to Rs 1312.44 crore (Rs 802.91 crore).
ABB also registered a strong 43% year-on-year growth in order intake at Rs 2000.3 crore during the quarter ended March 2007, which has further strengthened the order-book. Order backlog, as at 31 March 2007, stood at Rs 4259.60 crore compared to Rs 3372.3 crore at the beginning of the current calendar and compared to Rs 2674.30 crore as at end of March 2006.
ABB has been one of the prime beneficiaries of strong investments in both power sector as well as the manufacturing sector.
The current price of Rs 4157.80 discounts its FY 2006 (year ended 31 December 2006) EPS of Rs 80.30, by a PE multiple of 51.7.
At the time of announcing FY 2006 (year ended 31 December 2006) results, ABB announced a 1:5 stock-split, implying a subdivision of a share of Rs 10 into five of Rs 2 each. This is subject to shareholders approval in the ensuing annual general meeting. The ABB stock hit a high of Rs 4160, which is a lifetime high for the counter.
Labels: ABB
Published by Webmaster @ 4:51 PM IST.
Cipla hammered on Poor Q4 Show
Cipla reported 34% fall in net profit in Q4 March 2007 at Rs 126 crore from Rs 191 crore mainly due to a sharp decline in active pharmaceutical ingredients (APIs) exports and rising material costs. The company's performance in the same quarter last year was exceptionally good because of strong sales in Western markets.
Net sales for the quarter were up 6.3% to Rs 938.5 crore, on the back of a 14.4% growth in domestic revenues to Rs 399.7 crore. Exports were flat at Rs 529.3 crore in the quarter ended 31 March 2007, from Rs 526.6 crore in the last year’s corresponding quarter. A change in product mix also contributed to the decrease in profitability.
Cipla today reported a 8% increase in net profit at Rs 660.82 crore for the year ended 31 March 2007, as compared to Rs 607.64 crore in FY 2006. Net sales were up at Rs 3572.1 crore compared to Rs 2985.9 crore in the year ended 31 March 2006.
Cipla expects its exports business to show modest growth in the next two quarters, on account of ever-rising pricing pressure in the US.
Labels: Cipla
Published by Webmaster @ 11:19 AM IST.
Mahindra Gesco Tanks on Poor Show
Mahindra Gesco Developers reported a net loss of Rs 1.52 crore for the fourth quarter ended March 2007 compared to a net profit of Rs 3.86 crore in the fourth quarter ended March 2006. Its net sales slipped to Rs 34 crore from Rs 42.4 crore in the previous year.
The stock had a pre-results' rally. From Rs 594.30 on 19 April 2007, it shot up to Rs 675.50 by 25 April 2007, anticipating a strong set of results from the company. It is now quoting at Rs 615.
Mahindra Gesco is one of the larger players in the organised sector for property development and consulting. It plans to expand activities to all major cities in the country. Does this indicate a consolidation in Indian Real Estate ?
Labels: Mahindra-Gesco
Published by Webmaster @ 11:14 AM IST.
Tata Tea boils on buzz of Coke's interest in Glaceau
Wednesday, April 25, 2007Tata Tea had bought 30% stake in Glaceau for $677 million in August 2006. Tata Tea had valued Glaceau at $2.2 billion.
Quoting sources, Beverage Digest said negotiations are going on and that some points of the deal still needed resolving. The newsletter also said sources suggested that Coke may want to announce the deal when its North American bottlers meet in Atlanta next month, or right before. The valuation of Glaceau is rumoured at $3 billion, up from a mere $2.2 billion just 8 months ago.
Coke is now focusing on non-carbonated beverages.
Published by Webmaster @ 5:31 PM IST.
Ranbaxy Labs gets US FDA Nod
Ranbaxy said it has been granted a 180-day market exclusivity in the US for the 80-mg dosage of the drug pravastatin sodium tablets, which is used to treat cardiac diseases. The 80-mg tablet had annual sales of $209 million, while the market for all dosages of the drug was $1.19 billion a year, Ranbaxy said in a statement.
Pravastatin is the generic version of Bristol-Myers Squibb's cholesterol-fighter Pravachol.
As per recent reports, Ranbaxy Laboratories is investing more than $20 million (over Rs 83 crore) in its Romanian subsidiary, Terapia Ranbaxy. The move is a part of the company’s strategy to make the subsidiary its hub for Europe and Commonwealth of Independent States (CIS)' countries. Terapia SA, an 86-year-old company, was acquired by Ranbaxy for $324 million (Rs 1,347 crore) in June 2006.
Labels: Ranbaxy Labs
Published by Webmaster @ 2:42 PM IST.
HDFC Bank 2007 Results
HDFC Bank posted a net profit of Rs 343.57 crore in the quarter ended 31 March 2007, as against Rs 263.21 crore for the March 2006 quarter. Total Income increased to Rs 2384.19 crore compared with Rs 1682.65 crore in the March 2006 quarter.
The results were declared after trading hours on Tuesday (24 April 2007). The private sector bank also recommended a dividend of Rs 7 per share for the year ended 31 March 2007.
In late-December 2006, HDFC Bank raised the benchmark prime lending rate (BPLR) by a steep 150 basis points. The bank also increased its deposit rates by 50-75 basis points, following a similar increase in June 2006. But only a small proportion of HDFC Bank's loans are linked to the PLR. This is because most of the bank's retail and corporate lending is done at fixed rates, and is not directly linked to the BPLR.
Labels: HDFC Bank
Published by Webmaster @ 2:41 PM IST.
Reliance Capital growth Slows Down
Tuesday, April 24, 2007Compared to what leading Indian Financial Institutions like UTI Bank have reported their results, Reliance Capital is growing at a slower pace. Reliance Capital reported a profit growth of RS 311 crore an increase of mere 9% compared to the same quarter a year ago which was at 285.59.
On a consolidated basis, Reliance Capital's net profit rose 23% to Rs 703 crore and total income more-than-doubled to Rs 2158 crore during the fiscal, a 128% increase from Rs 947 crore of the previous year.
Reliance Asset Management recorded a net profit of Rs 49 crore, a 63% increase during the year. The number of investors in Reliance Mutual Fund (RMF) increased to 32.27 lakh from 20.95 lakh a year ago.
Reliance Life Insurance had a premium income of Rs 1005 crore from Rs 224 crore in the previous year, representing a jump of 348% .
Reliance General Insurance had a premium income of Rs 912 crore from Rs 163 crore in the previous year, representing an increase of 462%.
Labels: Reliance-Capital-Life-General-Insurance
Published by Webmaster @ 11:18 AM IST.
Titan Industries Q4 - Flop Show
Monday, April 23, 2007Titan Industries has reported a 18.50% decline in its net profit in the March 2007 quarter at Rs 30.32 crore (Rs 37.21 crore). Net sales surged 39.5% to Rs 605.83 crore from Rs 434.15 crore.
The stock of Titan Industries gained momentum, when in late-March the company forayed into the optical eye-wear business by launching a retail chain, Titan Eye+, in Bangalore. The company will offer products, including its own brands, in the fashion eye-wear category besides other licensed brands.
Meanwhile, the world of Titan's network has increased to 250 from 170 last year and we have plans to increase that to 275 by the end of this fiscal. The company, which has a manufacturing facility in Hosur, Tamil Nadu, and an assembly unit in Dehradun, produces about 10 million watches currently.
Titan has also expanded its range in the sports wear category by introducing the Aviator series of watches. The new series, inspired from World War II fighter aircraft is targeted at the upmarket, global Indian and is priced between Rs 4000 and Rs 7000.
Titan is the only listed player in organised retailing of jewellery with a pan-India network. It markets the jewellery under the 'Tanishq' brand. Tanishq commands around 70% share in the branded jewellery market.
Titan Industries also manufactures watches marketed under the Titan and Sonata brand names. It enjoys over 25% share of the total domestic watch market.
Labels: Titan-Tanishq-Eye+-Retailing
Published by Webmaster @ 1:38 PM IST.
Infomedia India Shifted Trade to Trade Segment
Saturday, April 21, 2007The counter of Infomedia India saw sporadic buying activity coupled with huge volumes in the past few days. From Rs 140.80 on 5 April 2007, the stock surged to Rs 198.45 by 19 April 2007. The sharp spurt in the stock came after a renowned investor, Rakesh Jhunjhunwala, mopped up 4.50 lakh shares of the company at Rs 163 per share. Rakesh Jhunjhunwala along with other persons acting in concert already hold 4.23% stake in the company.
Shares from the T2T group are to be delivered, and as a result trading is not possible in such counters. As a result, the daily traded volumes on such scrips decline.
Infomedia India, a special interest publications company, provides commercial information in the form of business directories, popularly called Infomedia Yellow Pages. Infomedia India also publishes at least 10 Indian and international B2B titles.
Labels: Infomedia India
Published by Webmaster @ 10:00 AM IST.
Satyam Upbeat on Q4 results and Guidance
Friday, April 20, 2007Satyam Computer Services reported a net profit of Rs 394 crore in fourth quarter ended March 2007 compared to Rs 337.23 crore in the third quarter ended December 2006, a sequential growth of 16.92%. Its revenues increased 7.09% to Rs 1779 crore from Rs 1,661.12 crore.
For FY-2007, Satyam's net profit jumped 40.12% to Rs 1375.93 crore from Rs 981.93 crore in the previous year. Its revenues rose 35.31% to Rs 6484 crore (Rs 4792.59 crore).
For the year ended March 2007, the group posted a net income of $ 298.4 million compared to $ 249.4 million for the year ended March 2006. Revenues have increased from $ 1096.3 million for the year ended March 2006 to $ 1461.4 million for the year ended March 2007.
Satyam Computer Services has given revenue growth guidance of 20.1 - 22% to Rs 7793 - Rs 7916 crore for FY-2008, and EPS growth of 19.26 - 21.1% to Rs 25.32 - Rs 25.73.
Labels: Satyam Guidance 2007-08
Published by Webmaster @ 11:05 AM IST.
Wipro projects $711m revenue from global IT Q1 2007
Wipro reported Q4 net profit of Rs 856 crore versus Rs 765 crore in previous quarter, a growth of 11.84%. Its revenues has increased by 8.89% to Rs 4333 crore (Rs 43.33 billion) from Rs 3979 crore (Rs 39.79 billion). Profit After Tax (PAT) grew by 42% YoY to Rs. 29.42 billion (Rs. 2,942 Crore)
Revenues of their combined IT businesses crossed the landmark of USD 3 billion in annual revenue. Wipro’s Global IT business crossed the Rs 100 billion mark and grew 38% to Rs 110.95 billion (Rs. 11,095 crores). The Enterprise Solutions Business in Global IT Services segment crossed USD 1 billion of annual revenue and Finance Solutions Business crossed USD 500 million.
Suresh Senapaty told,
In the last one-year, we won about ten USD 50 million accounts and the kind of pipeline we are seeing and the initiative we have taken in terms of large deals and also the initiative we are taking in Canada, in terms of an investment, all of them are showing up in the results. We would look forward to much more of that coming through in 2007-08. So overall, 2007-08 looks very exciting for us.The company expects to grow 20-22% in the next 2 years.
Published by Webmaster @ 10:55 AM IST.
DishTV India does Private Placement
Thursday, April 19, 2007Essel Group sources just a while ago informed us that they have raised Rs 445 crore to help fund expansions of group companies Dish TV India and Wire and Wireless India.
The company has placed 3.84 crore shares (9%) of newly-listed direct-to-home broadcaster Dish TV with institutional investors. Dish TV had listed at Rs 120 on debut on Wednesday, closing trade at Rs 102.55, after it was spun off from top listed media firm Zee Entertainment Enterprises.
Published by Webmaster @ 1:13 PM IST.