Company Updates

New Orders Backs Stone India To Its Previous Track

Stone India LimitedStone India ascended 5.95% to Rs 188.90 on getting orders from Indian Railways for supplying 5 sets of static converters. This is a high value solid state product to be provided under partnership with SMA Technologies AG, Germany.

The scrip hit an intraday high of Rs 199.85 and an intraday low of Rs 180 during the day. On 29 August 2006, it touched a 52-week high of Rs 278.80 and a 52-week low of Rs 104.30 on 30 April 2007.

Yash Birla Firms Climb On Restructuring Plan

Yash BirlaBirla Kennametal, Zenith Birla and Birla Power Solution were up 5% to 8% on reports that the Yash Birla Group has determined to reorganize group firms as part of a plan to modernize operations.

Birla Kennametal gained 4.99% to Rs 401.90, Zenith Birla up 8.26% to Rs 39.30, Birla power Solution gained 6.23% to Rs 34.10 and Dagger-Forst climbed 4.95% to Rs 51.90.

JK Tyre Plans Capacity Expansion

New Delhi:JK Tyre Tyre major JK Tyre is planning to invest Rs 1,100 crore over the next three years to expand its production capacity as it sees its revenues crossing Rs 5,000 crore marks by then.

JK Tyre and Industries Finance Director A. K. Kinra stated, “To meet the increased demand for radial and off the road (OTR) tyres, we will invest Rs 1,100 crore in expanding our production capacity by 2010.”

He added that the company would fund the growth plans through a mix of debt and internal accruals.

Emap Purchases 40 % Stake In Next Gen Publishing

Next Gen Publishing Ltd.Emap Publishing (Netherland) SV has purchased 40.1 % stake in Next Gen Publishing Ltd., which was a joint venture between the Forbes group and HDFC Ltd to publish special interest magazines and business directories.

Emap Publishing is subsidiary of UK-based Emap Plc that one of Europe's largest publishing companies with extensive interests in B2C, B2B, radio, television and digital media.

On Saturday, CEO of Next Gen, H S Billimoria said, “The entry of Emap as a partner throws open vast opportunities for Next Gen to become a leading media group in the country,"

Simplex To Raise Rs 55 Cr From Its IPO

Simplex Projects LtdSimplex Projects Ltd., Construction Company is reported to hit the capital market on July 10 with its Initial Public Offer to raise up to Rs 55 crore to fund the taking over of plant and machinery and meet the working capital requirement.

According to the company officials, the company offers to issue 30 lakh equity shares of Rs 10 each through 100 % book building process. Fixing the price at Rs 170-185 per share, Simplex would raise 51 crore at lower end of the band. The issue will close on July 13.

Balaji Telefilms Jumps After Block Deal

Balaji TelefilmsBalaji Telefilms was trading on an upper place after benefiting 3.79% to Rs 231.55 as its 10 lakh shares moved in a single block deal at Rs 229.75 per share on NSE.

The scrip touched an intraday high of Rs 233.95 and an intraday low of Rs 221.50 during the day. On 22 May 2007, the stock hit a 52-week high of Rs 263 and a 52-week low of Rs 102 on 24 July 2006.

SBI Mutual Fund Achieves a new Milestone

SBI Mutual FundMumbai: SBI Mutual Fund has crossed Rs 20,000-crore mark in assets under management (AUM) as on 30 June, 2007.

According to a release the AUM of SBI MF stood at Rs 20,272 crore as on June 30 and it is placed sixth among existing fund houses. SBI Mutual funds Achieves Milestone

While commenting on the milestone achieved Syed Shahabuddin, Managing Director and CEO, SBI Mutual Funds stated, “SBI Mutual Fund's excellent run is a reflection of the fund house's ability to understand the needs of investors and introduce products suited to their needs.”

SBI MF has an investor base of over 35-lakh spread over 40 schemes.

Fund Raising Plan Pushes Up IDFC

IDFC
After arriving at its all-time high, IDFC was trading flat at Rs 133.60 ahead of its plans to raise about $500 million through qualified institutional placement.
Today, the share price touched a high price of Rs 135.80. Its lowest peak during the day was Rs 132.2. On 24 July 2006, it had touched its 52-week low of Rs 43.35.
As against the Sensex’s return of 0.64%, the Infrastructure Development Finance Company (IDFC) scrip declined 16.07% over the last one month to 2 July 2007. The scrip had outperformed the market over the past quarter, making 71.17% compared to the Sensex’s augmentation of 16.16%.

Himatsingka Seide Up On Buyout Plan

Himatsingka SeideTextile company, Himatsingka Seide came up 4.28% to Rs 122.95 in early trade on adopting 80% stake in US-based Divatex Home Fashions Inc.

The company’s share price hit an intraday peak of Rs 131.80 and an intraday low of Rs 123 during the day. The scrip touched its 52-week high of Rs 150 on 29 January 2007 and a 52-week low of Rs 86 on 24 July 2006.

ABN Amro Indian Sector’s Profit Climbs 59%

ABN Amro BankOn the back of an increase in interest and fee-based income, ABN Amro Bank has recorded a growth of 59 per cent in its net earnings to Rs 385.35 crore in 2006-07, as compared to Rs 241.68 crore in the previous year.

The overall turnover of the bank increased by 36 per cent to Rs 32,077 crore as against Rs 23,539 crore in the corresponding period of the last year.

Accentia Technologies Climb On Two US Acquisitions

Accentia Technologies went up 2.87% to Rs 114.75 in afternoon trading after signing accords to get hold of US-based G. S. R. Physicians Billing Service Inc. and GSR Systems Inc.

The company made the declaration in trading hours today, 2 July 2007.

The scrip had touched a high of Rs 116.50 and a low of Rs 110.90 so far during the day. Today, there were 23,817 shares for trading.

In the past one quarter, the average daily volume of stock stood at 51,831 shares.

In the one month, the Accentia Technologies scrip benefited 3.82% to 29 June 2007 against the Sensex’s 0.73% return. In the past three months, it appended 70.44% against the Sensex’s 12.07% increase.

Big Expectations From Reliance Energy - Gujral

Technical Analyst Ashwani GujralTechnical Analyst, Ashwani Gujral is of the view that Reliance Energy can touch Rs 720.

Mr. Gujral said that Tata Power and Reliance Energy are the strongest options. Reliance Energy beyond Rs 580 is poised to go up to Rs 720 and for Tata Power, Rs 620 is a key level that should probably be headed in the direction of Rs 750-760.

“I think some rub off from the capital goods space, those electrical equipment stocks is now rubbing off even to the energy stocks,” He added.

Bajaj Auto Loses on Lack of Activity

Bajaj AutoAfter turning ex-dividend, Bajaj Auto lost 1.61% to Rs 2,095 in afternoon trading. The company announced a dividend of RS 40 a share of face value Rs 10 in May 2007.

During the day, the scrip touched an intraday high of Rs 2,133, and an intraday low of Rs 2,088. There were 37,418 shares on the counter. It had an average daily volume of 1.20 lakh shares on BSE in the last one quarter.

At the existing price of Rs 2,095, the scrip trades at a PE multiple of 17.13, which is based on year ended March 2007 earning per share of Rs 122.27.

Jai Parabolic Springs Advances On Merger Approval

Jai Parabolic Jai Parabolic Springs Ltd.Springs Ltd. climbed up by its maximum daily limit of 5 percent to 29.50 rupees as the board okayed its merger deal with Jamna Auto Industries. The company made the declaration in trading hours. The scrip had touched its intraday low of Rs 28 during the day.
Today, about 16,712 shares were traded in the scrip. In the past one quarter, the stock had an average daily volume of 11,212 shares. At its existing price of Rs 29.50, the scrip trades at a PE multiple of 10.13, based on year ended March 2007 EPS of Rs 2.91.

BHEL Is The Best Order-N-Investment Combination

Lengthening itsBharat Heavy Electricals current rally on continued buying, Bharat Heavy Electricals gained 2.75% to Rs 1,470.75 on BSE.

The scrip's high record during the day was Rs 1,474.40 and low Rs 1,435. The existing market price of Rs 1,470.75 brushes off its earning per share of Rs 49.32 for the year ended March 2007 by a PE multiple of 29.82.

Today, nearly 1.33 lakh shares were traded on the counter. The standard daily volume in the stock was 1.35 lakh shares during in the last one quarter.

Block Deal Lifts EIH

In early hours, EIH gained 3.10% to Rs 104.60 as a big block deal executed at Rs 102 per share on Bombay Stock Exchange.

The company’s share price touched a highest peak of Rs 105 and a low of Rs 100.95 during the day. On 13 September 2006, the scrip has had its 52-week high of Rs 127.

The block deal was of 19 lakh shares and was struck today. The overall volume was 19.58 lakh shares and the average daily volume in the stock was 50,051 shares in the past one quarter.

Ranbaxy Laboratories Excited On USFDA Approval For Stress-Reliever

Ranbaxy LaboratoriesRanbaxy Laboratories gained ground after declaring it got an approval to make and sell Amlodipine Besylate in the United States. Its share price bobbed up 1.82% to Rs 358.25.
The shared price had reached a high of Rs 358.40 and a low of Rs 353.95 during the day. In the last one quarter, the company’s scrip had an average daily volume of 2.71 lakh shares on BSE.
At present level of Rs 358.25, the stock trades at a PE multiple of 26.14 based on its Q1 March 2007 annualized earning per share (EPS) of Rs 13.7.

Sterlite Industries Shines at NYSE

Sterlite Industries Sterlite Industries India Ltd.India bobbed up 4.89% to Rs 587.30 after its American depositary shares made a substantial debut on the NYSE. During the day, the scrip had touched a high of Rs 596.80 and a low of Rs 572.

On Bombay Stock Exchange, nearly 8.65 lakh shares were traded on the counter. In the preceding one quarter, the average daily volume in the stock was 2.53 lakh shares.

On 19 June 2007, the Sterlite Industries scrip had climbed up 2.84% to Rs 559.90, after it had received sanction for listing of its IPO of 130.44 million American Depositary Shares.

Sony Drops PSP Prices

Sony Computer Sony Computer EntertainmentEntertainment America (SCEA) has marked the recent second anniversary of PSP by airing PSP hardware price cut. The PSP Core Pack will now be available in North America for $169.99 ($30 short of the previous price).

SCEA’s also broadcasted, the availability of Daxter and Syphon Filter: Dark Mirror at $19.99, as new additions to the "Greatest Hits" program. These new additions will enable PSP users to build up their software library with two popular titles at great value.

ICICI Prudential changed its name

Prudential ICICIPrudential ICICI Mutual Fund has been assigned a new name ‘ICICI Prudential Mutual Fund’ w.e.f Monday.

The change in name contemplates the alteration in the shareholding model of ICICI Bank and Prudential Plc in the asset management company (AMC) and the trust company.

The AMC and trust company have also been allotted new names as ‘ICICI Prudential Asset Management Company Ltd’ and ‘ICICI Prudential Trust Ltd.’




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