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Provides Indian Stock Market News, Stock Quotes, Stock Tips, IPO News, Stock Market Analysis, IPO Analysis, Sensex News, Nifty News, Hot Stock Tips, Intraday Stocks News, Trading News and More Mon, 06 Oct 2008 17:36:00 +0200 MUMBAI, Oct. 6 (Xinhua) -- Indian equities dropped to a two-year low Monday, dragging key index below the crucial 12,000-pointmark,due to fears aroused by major pullout of foreign funds and possible economic recession in the United States.
The 30-share sensitive index of the Bombay Stock Exchange (BSE) Monday closed at 11,801.70 points, registering a drop of 724.62 points, or 5.78 percent. The situation is the same on the National Stock Exchange (NSE), where the broader S P CNX Nifty, a basket of 50 shares, was down 5.66 percent at 3,602.35 points. "This has happened because of overselling by overseas investors and virtually no buying support from domestic investors," said S.P. Tulsian, a noted investment advisor. "The crash is a result in acceleration in foreign fund outflows coupled with fall of rupee amid fear of credit crisis in the west," said Tulsian. In a bid to bring some cheer to the equities market, India's markets watchdog Securities and Exchange Board of India (SEBI) Monday removed some restriction on foreign funds, like the 40 percent cap on participatory notes and overseas derivative instruments. Also on Monday, the Reserve Bank of India cut cash reserve ratio (CRR) by 50 basis points to 8.5 percent. Editor: Yan Liang Courtesy: news.xinhuanet.com Tue, 30 Sep 2008 17:44:00 +0200 20 Microns Limited IPO Allotment Status - Click here...
or Log on to: http://www.intimespectrum.com/site/ipo.asp 20 Microns IPO Listing Date: Monday, October 6, 2008 (BSE Code: 533022). Latest Grey Market Premium as on 30-09-08 is - 04 to 04.50 Mon, 29 Sep 2008 18:41:00 +0200 The Indian rupee breached towards the 47-mark a US dollar on Monday, September 29 on account of heavy dollar demand from oil refiners and importers to meet month-end import commitments. The partially convertible rupee stood at Rs 46.90/91 against the USD in the early hours of trading, weaker than Friday`s close of Rs 46.54/55. It had an intraday low of Rs 46.95. Courtesy: myiris.com Mon, 29 Sep 2008 18:32:00 +0200 MUMBAI: After touching a low of 3777, Nifty pared some of its losses and regained the 3800 level thanks to the huge call buying at this level. At 3:54 pm, Nifty was trading at 3824, down 4.02 per cent. BSE 30-share Sensex was at 12485, down 4.71 per cent. Nifty October futures was at 16 points premium. Huge amount of call buying was observed at 3800 level. At the same time, put buying was observed at 3800, indicating a solid tussle between bulls and bears at this level. Most of the potential institutional investors are keeping away due to global uncertainty even though the fundamentals are comfortable and it is the right time to enter the market. Mirae Asset Global Investment Management says, "The present downtrend is due to big uncertainty on liquidity side and de-leveraging by the institutional investors, both domestic as well as foreign, despite the fundamentals still being positive.” Top losers on Nifty were Suzlon (13.07%), ICICI Bank (-12.5%), IDEA (10.46%), Satyam Computer (-10.18%) and HCL Technologies (-9.70%). Top gainers were BPCL (1.73%), SAIL (0.865) and Hindustan Unilever (0.57%). Meanwhile, stocks dropped in Europe and Asia on rising numbers of corporate looking for a bailout. Courtesy: economictimes.indiatimes.com Fri, 26 Sep 2008 15:47:00 +0200 MUMBAI: Indian markets plunged towards close Friday as the US bailout plan remained unresolved. Realty, metal and banking sectors were the worst hit. Bombay Stock Exchange’s Sensex closed at 13,061.54, down 485.64 points or 3.58 per cent. The index touched an intra-day low of 13,054.42 and a high of 13,486.20. National Stock Exchange’s Nifty closed at 3973.45, down 137.1 points or 3.34 per cent. The broader 50-share index touched a low of 3970.35 and a high of 4110.70. BSE Midcap Index closed 3.17 per cent lower at 4931.52 and BSE Smallcap Index ended 3.28 per cent down at 5,851.54. Ranbaxy Laboratories (-7.07%), ICICI Bank (-6.67%), M&M (-6.23%), BHEL (-5.63%) were the majors losers on the Sensex. ITC (1.11%), Hindustan Unilever (0.98%) and ACC (0.47%) were the major Sensex gainers. Market breadth was extremely weak on the BSE with 455 advances and 2158 declines. (All figures are provisional) For More economictimes.indiatimes.com Mon, 22 Sep 2008 07:25:00 +0200 IIFL has upgraded its rating on Hero Honda Motors to add with a 12 month target of Rs 920 in its September 18, 2008 research report. " We expect a 19% CAGR in HH’s EPS from FY08-11ii and hence revise our target multiple from 12x to 13x. We value the stock at 13x FY10ii EPS and revise our target price to Rs 920 from Rs 795. We upgrade the stock to ADD. The key risk to our call is that any worsening in the competitive scenario could result in aggressive discounts, putting margins under pressure," says IIFL's research report. To read the full report click on the attachment...... Attachments : tfp200809181.pdf Courtesy: moneycontrol.com Tue, 16 Sep 2008 06:15:00 +0200 Realty stocks lead the fall with a loss of 7.65 % With major financial crisis erupting in the U.S., Indian stock market benchmark index (Sensex) fell by 469.54 points or 3.35 per cent on Monday to close at 13531.27. Realty stocks led the fall with a loss of 7.65 per cent. The National Stock Exchange, the NSE Nifty lost 155.55 points or 3.68 per cent. All sectoral indices closed in the negative territory. An eventful week of turmoil has begun in the global financial scenario as stock prices plunged across much of the globe on news that investment bankers, Lehman Brothers Holdings filed for bankruptcy and Merrill Lynch & Co’s forced sale to Bank of America. To add to the worsening situation, American International Group (AIG), the world’s largest insurance company, asked the U.S. Federal Reserve for an emergency funding before announcing a major restructuring plan. Lehman Brothers Holding, with $60 billion in bad debts, is the fourth-largest investment bank. Merrill Lynch is the third biggest investment firm, which also stuck with toxic sub-prime (real estate) with $40 billion write-downs, now sold for $29 a share, less than half its 52-week high but around $12 higher than its closing price last Friday. The investments in Indian firms by these U.S. investment bankers are a major worry for Indian investors. The 14-month-old credit crises that stem from sub-prime (real estate) mortgage debt is now left with two other big firms on the Wall Street, Goldman Sachs Group and Morgan Stanley and they are expected to announce their quarterly results on Tuesday and Wednesday, respectively. Investor confidence is at its lowest ebb. Only few days ago, the U.S. Government bailed out two leading mortgage lenders — Fannie Mae and Freddie Mac. The Federal Reserve is expected to make a decision on interest rates on Tuesday. Investors are worried that all these are likely to trigger another round of troubles for banks and financial institutions around the globe. Six months ago, in March, Bear Stearns, the fifth biggest U.S. investment bank, witnessed a full circle before its fall and sell-off to JP Morgan Chase & Co for a rock bottom price of $2 per share. Crude oil price was a major issue in recent times. In the New York Mercantile Exchange, light, sweet crude oil dropped by $4.43 to $96.75 a barrel in pre-market electronic trading. Oil hit a record high of over $147 a barrel in mid-July this year. However, gold prices are on the rise. Post-Lehman, when the U.S. stock markets opened on Monday Dow Jones Industrial Average (DJIA) was down by around 300 points. While writing this report, DJIA is down by 256.07 points at 11165.92, Nasdaq by 30.61 points at 2230.66 and S&P 500 by 27.22 points at 1223.98. Crude was at $94.97 a barrel down by 4.64 per cent and gold was trading at 773.7 an ounce, up by 2.33 per cent. In afternoon trading, Britain’s FTSE 100 fell by 3.64 per cent and Germany’s DAX index by 3.33 per cent. Courtesy: hindu.com Fri, 12 Sep 2008 03:54:00 +0200 The insurance industry emerged as the largest investor in the stock market during 2007-08, surpassing FIIs, riding on the huge popularity of unit-linked insurance products (ULIPs), according to the Life Insurance Council, an apex organisation of all life insurance companies in India. The council, in a briefing to the media here on Thursday, said the net investment by life insurance companies in equity markets during 2007-08 was Rs 55,000 crore against an investment of Rs 53,400 crore made by FIIs. The investment by mutual funds in the same period was estimated at Rs 16,300 crore. Referring to the popularity of ULIPs among investors, industry leaders said it was not that the insurance industry was promoting ULIPs, but it was customers who were preferring to invest in these products to help them participate in the stock market. ULIP is a life insurance cover, in which the policy value at any time varies with the value of underlying asset at the time. Life Insurance Council secretary general SB Mathur said the investment by insurance industry in the stock market in the first four months of this financial year was around Rs 25,000 crore. During 2006-07, investment by insurance companies in equities was only Rs 20,000 crore. SBI Life Insurance Company managing director and CEO US Roy said it was for the first time that the investment by insurance companies in the stock market was higher than the foreign funds. According to the council, 80% of life insurance business during the last financial year was received by way of ULIPs. Besides, an official said large investment made by the industry has helped the market to stabilise. He said it was an international trend as more people are getting attracted to the markets. Although, investment by the industry in the markets is on the rise, it continues to be the major investor in government paper. According to the council, investment by the industry in government securities during FY 2007 was Rs 2,75,000 crore while for FY 2008, the investment (provisional) was Rs 3,37,000 crore. The council said the life insurance industry had assets under management worth Rs 8,47,000 crore as of March 31, 2008. Courtesy: economictimes.indiatimes.com Fri, 12 Sep 2008 03:53:00 +0200 Inflation fell for the third week in succession to close at 12.1 per cent as on August 30 from 12.34 per cent recorded a week earlier. While food articles rose 0.2 per cent, primary articles were up by 0.3 per cent and non-food articles also by 0.3 per cent. Manufactured products recorded a similar rise by 0.3 per cent, while food products rose 1.3 per cent. Fuel, power and light, however, remained unchanged. As per a poll on Wednesday, India's annual inflation rate was expected to have eased for the third consecutive week, with respite provided by softening of global crude prices. The wholesale price index was forecast to have risen 11.96 per cent in the 12 months to August 30, lower than the previous week’s rise of 12.34 per cent, according to the median estimate of 13 economists. Shubhada Rao, chief economist at Yes Bank, for instance, who forecast 11.96 per cent, said a relatively higher reading a year earlier would also limit the number. “Recent weeks have seen inflation stabilise. We expect it to peak in the third quarter and given the current trend it may peak around 13 per cent,” she said. Talking about the softening inflation, commerce minister Kamal Nath last week had said the government’s supply-side measures had begun to take effect and inflation should soften from the current levels. The finance ministry also believes inflation will come down to single digit by the end of this fiscal if oil prices keep softening in the international markets. "If oil prices go below $100 per barrel, the wholesale price index inflation will even come down to 5-6 per cent by the end of the current fiscal,” Arvind Virmani, chief economic adviser in the finance ministry, told a news agency recently. "I am reasonably confident that within a year, inflation will be back to normal. In the short-term, it depends on oil prices to a large extent and we have seen oil prices coming down,” he said. He also said food price inflation has not been that severe in India when compared with the global situation, as prices of primary food articles such as fruits, vegetables, tea and lentils had gone up by 6.04 per cent during the 52-week period ended Aug 23. "It is partly because of the nature of our economy, which is still isolated from the global situation except in one or two commodities like edible oils as we import some 60 per cent-plus of our overall edible oil requirements,” he said. Courtesy: economictimes.indiatimes.com Thu, 11 Sep 2008 09:25:00 +0200 BSE has remained fore-runner in meeting the needs of the market to empower market participants with right information at right time. SENSEX, the market barometer has always retained the Top-of-Mind recall value among the millions of investors globally.
Market dynamism and expectations from market participants has always kept us on meeting newer challenges. Here is a widget, known as Market Watch, that will change your desktop experience. To install follow two simple steps :
The above is sent to you as advance information, as the tool is available for download from BSEIndia website, freely. Soon we shall be informing the masses about this. Courtesy: BSE India Thu, 11 Sep 2008 06:48:00 +0200 Company -> Open/Close -> Offer Price -> Premium
Chemcel Biotech Limited -> 09 September - 12 September -> 16 -> 04 to 04.50 20 Microns Ltd -> 08 September - 11 September -> 50 to 55 -> 07 to 10 Thu, 11 Sep 2008 06:43:00 +0200  Incorporated in 1995, Chemcel Biotech Limited is in the business of manufacturing of Agro Chemicals. Company’s main products are in three forms i.e. liquids, granules and dusts. Chemcel Biotech has CIB registrations for 34 products to manufacture pesticides for crops i.e. Paddy, Cotton, Sugarcane, Turmeric, Chillies, Pulses, Vegetable etc.They have 34 products in their product portfolio which consists of different kind of insecticides. Chemcel Biotech manufacture various formulations comprising of liquids, granules and powder formulations. Company's products are available in various sizes of packaging catering to the needs of small, marginal and large farmers. Compant's product range covers most of the crops and majority of plant infections. They provide end to end plant protection solutions to farmers through their distributors. They have certificate of registrations for 34 formulations. Company's largest selling formulations are CHEMCEL HEXA; COUNTER; COSY; CELPHATE”. Company has set up production unit at Kanuru, Vijayawada, Andhra Pradesh for production of a wide range of pesticides. which is very close to rice belts of Krishna & Godavari districts, and commercial belts of Guntur and Khammam. Company’s main products are in three forms viz., Liquids, granules and dusts. Individual capacities of these products are as under:
1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital: To set up Bio-Diesel manufacturing unit; 2. To meet the additional Working Capital requirement on account of increased operations for the Agrochemical & Bio Fertilizer division; 3. To repay short term loan of Rs 120.00 Lakhs availed from Union Bank of India for meeting the project expenses; 4. To partially repay the working capital loan facility availed from Union Bank of India; 5. To meet the public issue expenses; 6. To achieve the benefits of listing our Company’s shares on Bombay Stock Exchange Limited (BSE). Chemcel Biotech Limited IPO Information:
Courtesy: chittorgarh.com Wed, 10 Sep 2008 18:38:00 +0200 PTI The park would be set up in 100 acres of land and would generate employment for about 10,000 people Apparel firm SEL Manufacturing said that it will invest about Rs500 crore for setting up a textile park in Himachal Pradesh. The park would be set up in 100 acres of land and would generate employment for about 10,000 people, SEL Manufacturing said in a filing to the Bombay Stock Exchange (BSE). Further, the company has sought approval under the Union Textile Ministry’s Scheme for Integrated Textile Park (SITP), which aims at providing the industry with infrastructure facilities for setting up units. As per the SITP scheme, the Ministry of Textiles would implement the project through special purpose vehicles (SPV), which would provide manufacturing process for the technical textile products, involving wipes, diapers and surgical clothing. The scheme would facilitate textile units to meet international environmental and social standards. Courtesy: livemint.com Wed, 10 Sep 2008 18:33:00 +0200 There has been a lot of volatility in the stock markets. This year, there have been many sharp corrections and rallies in the stock markets. Currently, the Sensex is in the 14,000 levels which is over 30 per cent lesser than its peak in January this year. The net asset values (NAV) of equity mutual funds across the board have taken a beating this year - especially the mid-cap and small-cap focused mutual funds which have a higher co-relation with the market. Investors who entered near the market's peak have lost a significant portion of their principal investments and others have seen a significant dip in their capital appreciation. Investors who invested in the wrong mutual funds are stuck with them. In the current market conditions, many investors are pulling out investments in equity mutual funds and investing in debt funds and instruments - liquid funds, bank deposits etc. It makes sense for short-term investors as it is difficult to predict the market direction in the short term. Long-term investors should not park funds in debt instruments as the returns in debt-based instruments will be negative after factoring in inflation. Historically, equity-based investments provide positive returns over the long term. Long-term investors should look at investing in good equity funds systematically. These days, systematic investment plans (SIPs) are being widely advocated by many investment advisors and positioned by mutual funds as an investment option to weather volatile markets. Although it does not guarantee positive returns, SIPs help in averaging the entry cost for investors, and hence reduces the chances of an investor being caught on the wrong foot. Often, investors find it difficult to pick the right category/scheme and end up making the wrong choice. Here are some basic factors investors should analyse while investing in a mutual fund scheme: Finance needs: The first step is to estimate finance needs at different stages in life. This helps in understanding investment objectives. Risk appetite: The next step is to understand the risk appetite. It depends on many factors like source of earnings, number of dependents etc. Investors with a low risk appetite should go for blue chip funds or diversified equity funds, while investors with a high risk appetite can go for a mix of blue chip and mid-cap funds. Timeframe: Investors should invest in mutual funds with a long-term perspective. This way, your investment gets more time to grow, with the advantage of compounding. Time also creates a cushion to absorb risks, and hence reduces the risk of losses. Track record: Investors should look at the track record of mutual funds before taking investment decisions. For evaluation of a mutual fund's performance, investors should look at the fund's total returns - dividends, growth, tax savings etc). This information can be accessed from the mutual fund's periodic reports. Mutual fund investors should avoid frequent switching from one fund to another. Switching from one fund to another involves transaction costs. Investors should have realistic expectations from investment instruments. Information available/quoted is past performance. Remember, the past performances of the instrument may not be repeatable. Performance of mutual funds is highly dependent on the fund manager, fund house and their equity research teams. Investors should make a thorough analysis before taking investment decisions. Courtesy: economictimes.indiatimes.com Wed, 10 Sep 2008 18:30:00 +0200 Press Trust of India The Indian rupee on Wednesday breached the crucial 45 level for the first time in 22 months to close at 45.11/12, cheaper by 28 paise, against greenback on sustained demand for dollar from banks and oil refiners amid the US currency's rally in overseas market. Foreign exchange dealers said consistent capital outflows from equity markets also weighed against the rupee. Oil refiners continued to buy dollar even though global crude oil prices hovered around $104 a barrel level in Asian trade during the day. Dealers said dollar's gaining strength against rival currencies in the overseas market prompted refiners and foreign banks to rush for the US currency as the greenback is not readily available globally. "Increasing dollar demand and mismatch in supplies led to continuous pressure on the rupee, while portfolio inflows slowed down this year. The depreciation could be a cause of concern for the inflation levels in the country as well although it may help exporters," a leading banker said. There was heavy capital outflows so far in current calendar year in view of weak trend in stock markets. Meanwhile, the benchmark Sensex on Wednesday dropped by 238 points or 1.60 per cent following weak trend in global markets. While exporters are expected to cheer the fall in rupee as it would improve their profit margins, there are also apprehensions that a weak rupee would fuel inflation which is already hovering over 12 per cent. However, analysts said forex market would be highly volatile in the coming days as the Reserve Bank is expected to intervene to stem the fall of rupee. "The uncertainty in the forex market is likely to continue for the coming days. However, the fast decline in the rupee against dollar is a cause of concern as it will impact the imports in the country." said Director of Kejriwal Research and Investment Services (KRIS) Arun Kejriwal. The rupee premiums on forward dollar ended remarkably higher on continued paying pressure from banks as well as corporates. The benchmark six-month forward dollar premium payable in February ended at 70 - 72 paise, higher from 63-1/2 - 65-1/2 paise on Tuesday and the far-forward maturing in August also closed up at 121 - 123 paise from 114-1/2 - 116-1/2 paise previously. The Reserve Bank fixed the reference rate for the dollar at Rs 45.12 and for the single European currency at Rs 63.83. In cross currency trades, the rupee moved down further against the British sterling, the euro and the Japanese yen. The domestic unit dropped against the pound sterling to end the day at Rs 79.28/30 per pound from its previous close of 79.03/05 per pound and also eased against the single European currency to 63.65/67 per euro from its last close of Rs 63.49/51 per euro. The rupee tumbled against yen to Rs 41.98/42.00 per 100 yen from its overnight close of Rs 41.49/51 per 100 yen. Courtesy: profit.ndtv.com Wed, 10 Sep 2008 18:27:00 +0200 Press Trust Of India / New Delhi Global rating agency Fitch today said it expects oil prices to remain in the range of USD 50- 100 per barrel despite fall in prices in the last few weeks. "Companies whose margins are under threat from high crude oil and gas prices need to be prepared for crude oil prices to remain in the range of $50-100/barrel," Fitch said in a report. Crude oil contract for October closed at around $109 a barrel on Friday from its all-time high of $147 a barrel. According to Fitch oil prices would continue to decline, particularly as the global economy slows. However, it does not anticipate that the price levels seen in 2004 and prior are likely to recur. The report also noted that the oil and gas price environment over the last 18-24 months have generally benefited the oil and gas firms, as unprecedented high real wholesale prices mostly led to a significant increase in cash flows and margins. However, some firms without significant upstream exploration and production (E&P) assets have, conversely, faced a significant margin squeeze. The financial performance of companies like Indian Oil Corporation and Sinopec of China has suffered significantly over the last two years because governments, wanting to control inflation and maintain economic growth momentum, have not allowed the companies to fully pass through the higher costs of crude oil to customers. In contrast to this, Goldman Sachs analyst Arjun N Murti believed crude oil price may fall by nearly half to below 75 dollars a barrel, but after 20 years. Courtesy: business-standard.com Wed, 10 Sep 2008 18:25:00 +0200 Larsen & Toubro Ltd's (L&T) Heavy Engineering Division has been awarded an order to manufacture and supply of 10 Nos Hydrotreating Reactors and 12 Nos Coke Drums for Petrobras' prestigious 200,000 bpd Northeast Refinery Project in Brazil. The total value of the order is approx US$ 160 million. This is the largest order ever received by L&T from South America. The Reactors will be manufactured from advanced technology steels containing Chromium, Molybdenum and Vanadium, whilst the Coke Drums will be manufactured using Cr-Mo Steel. These Reactors and Coke Drums will be delivered to the refinery in Brazil in the financial year 2010-11. Anticipating the developments in the global hydrocarbon industry, L&T has proactively embarked on a major expansion program at its state manufacturing facility at Hazira, which is rated as one of the largest and most modem integrated manufacturing complexes situated on a water front with easy access to the sea. In addition, a new heavy fabrication facility is under construction at Sohar, Oman. This facility will be a first-of-its-kind venture in the G.C.C. region & will have the capability to manufacture critical equipment for Refineries, Petrochemicals & Fertilizer projects apart from other process industries. The stock closed the day at Rs.2714.65, down by Rs.21.90 or 0.80%. The stock hit an intraday high of Rs.2754.90 and low of Rs.2696. The total traded quantity was 473991 compared to 2 week average of 431492. Source: Equity Bulls Fri, 05 Sep 2008 05:10:00 +0200 GAIL shareholders approve 1 bonus share issue for 2 equity shares Authorized capital to be doubled to Rs. 2000 crore GAIL to enhance petrochemical capacity at its Pata plant Company on path to achieve Rs. 50,000 crore revenue by 2011-12 Enhancing the transmission / distribution capability, Petrochemicals and City Gas / CNG activities to be focus areas for future growth GAIL Training Institute to become Profit Centre New Delhi, September 4, 2008. The shareholders of GAIL (India) Limited approved the issuance of 1 bonus share for every 2 equity shares held in the 24th Annual General Meeting of the Company held today in New Delhi. The paid-up capital of the company is Rs. 845.65 crore and the Reserves and Surplus as on 31st March 2008 were approximately Rs. 12,160 crore. The Board of the Company had earlier, in June this year, recommended the issuance of bonus shares. The shareholders also approved the payment of 100 percent dividend for the year 2007-08. Addressing the shareholders, Dr. U. D. Choubey, Chairman and Managing Director, GAIL said that the Authorized Share Capital of the Company is proposed to be increased from Rs.1,000 crore to Rs.2,000 crore. Dr. Choubey said that GAIL has completed the expansion of Pata plant by commissioning a new HDPE plant with additional capacity of 100,000 TPA. It is proposed to further augment the capacity to 5,00,000 TPA gradually going upto 8,00,000 TPA.. Increased production of polymers at Pata shall further add values for stakeholders, he said. “GAIL is making special effort to nurture and develop talent pool in the gas sector through its state-of-the-art Training Institute with centres at Noida and Jaipur. GAIL intends to convert GAIL Training Institute into a profit centre as SBU”, said Dr. Choubey. He further said that cooperation, collaboration and competition have become the mantra for success in the hydrocarbon sector. “In the year that follows, we hope to unfold a number of projects in our core business areas to further strengthen the market position of your Company. Three focus areas decided by the Board and Top Management Team (TMT) have been identified as (i) enhancing the transmission / distribution capability, (ii) Petrochemicals and (iii) City Gas / CNG activities”, he added. He reiterated Company’s commitment to increase revenues to Rs. 50,000 crore by 2011-12 and added that “with the existing projects and new business initiatives being taken, I can confidently state that your Company is moving steadily on its way to achieve this goal”. Five new trunk pipelines and two capacity augmentation projects of GAIL are moving forward rapidly for timely completion. This will enable the Company to continue and consolidate its dominant position in the gas transmission and marketing segment raising the Company’s pipeline handling capacity to over 300 MMSCMD by 2011-12 at an estimated investment of Rs 20,000 crore. Dr. Choubey also said that GAIL is advocating two key initiatives towards achieving energy security through natural gas. First is creation of CNG Corridors along national highways, in proximity to trunk gas pipelines across the country to supply / dispense PNG and CNG to domestic and commercial vehicles. It can enable large scale conversion of vehicles to CNG resulting in substantial savings in the petroleum import bill and save precious foreign exchange, besides providing a cleaner environment. Second is to enhance regional cooperation to foster energy trade, investment, technology transfer and skill development etc in participating nations. GAIL (India) Limited recorded sustained performance in all key physical as well as financial parameters in the Financial Year 2007-08. According to the audited figures, the company recorded a Turnover (excluding internal consumption and net of excise duty) of Rs. 18,008 crore in the year 2007-08. The Profit After Tax during the year 2007-08 was Rs. 2,601 crore. The Board of Directors has recommended payment of total dividend at the rate of 100 percent on the paid-up share capital of the Company for FY 2007-08. GAIL is one of the leading public enterprises with a consistently excellent financial track record. Turnover during the last ten years has shown a compounded annual growth rate of 13 percent.Courtesy: GAIL (India) Limited Tue, 02 Sep 2008 10:30:00 +0200 Source : moneycontrol.com According to ICICI direct.com, Zee News has target price of Rs 50.7 over a six-month time frame. ICICI direct.com report on Zee News: ZNL is in dominant positions in a majority of its regional GECs. The company fares better than its key comparable channels in the broadcasting space, IBN7 and NDTV India. At the current market price of Rs 42.2, the stock trading at 17.58x FY09E EPS of Rs 2.4 and 12.78x FY10E EPS of Rs 3.3. At the recommended price of Rs 50.7, the stock discounts the FY10E EPS by 15.36x. We recommend the stock with a target price of Rs 50.7 over a six-month time frame. Attachments : ZEENEW.pdf Courtesy: moneycontrol.com Tue, 02 Sep 2008 10:28:00 +0200 Oil plunged almost $3 a barrel on Tuesday to its lowest since mid-April, extending the previous day's rout on initial signs that a weakened Hurricane Gustav spared major Gulf oil facilities. Early checks by some US refiners reported no damage from Gustav, which weakened to Category 2 before roaring ashore near Port Fourchon, Louisiana, on Monday. At least two others were expected to dip into the US Strategic Petroleum Reserve, helping ensure steady gasoline and diesel supplies. US crude fell to $108.55 a barrel by 0647 GMT, extending Monday's $4 slide to stand almost $3 below trading levels late on Monday and down almost $7 from Friday's close as traders discounted Gustav, which had been called the biggest threat to the sector since 2005's devastation. Because of the US public holiday a day ago, the New York Mercantile Exchange did not issue any official settlement prices. London Brent crude fell $1.86 or 1.7 per cent to $107.55. With Gustav now just a tropical storm as it churns further inland, energy companies were starting to assess the potential damage as they looked to restart the 1.3 million barrels per day of offshore oil production and over 2.1 million bpd of refining throughput that was shut ahead of the storm. But some oil traders are already looking past the storm toward more bearish factors such as the rising dollar and weakening demand, hopeful that operators were better prepared than in 2005, when Katrina and Rita wrecked more than 100 offshore platforms in 2005 and shut several refineries for months. "There is another month of peak hurricane season to go, and there will be other threats," Michael Wittner, global head of oil research at Societe Generale, said in a research note. "However, the market reaction to Gustav has confirmed our opinion that when the disruption threats fade, the underlying factors are bearish," he said. The Gulf is home to a quarter of US oil output and more than a third of US refining capacity. SPARED? Valero Energy Corp said an initial check of its 250,000 barrels per day (bpd) refinery at St Charles, Louisiana, refinery showed no significant structural damage from Gustav, and that the plant had electrical power. ConocoPhillips said remote sensors showed that its Magnolia platform in the Gulf of Mexico had suffered no damage from the hurricane. Elsewhere, area sheriff offices said no flooding had been seen at the Exxon Mobil Chalmette, Murphy Meraux and ConocoPhillips Alliance refineries south and east of... Courtesy: financialexpress.com Sat, 30 Aug 2008 08:55:00 +0200  Incorporated in 1987, 20 Microns Limited is India's largest manufacturer of White minerals with an annual output of over 180000 tons from plants spanning four different regions of India.20 Microns Limited supplies the entire world with innovative products in the fields of Functional Filler and Extenders. The main fields of application for 20 MICRONS's products can be found, for instance, in Paints, Coatings and Printing Ink , Plastics, Paper, Ceramic, Rubber, Adhesives and Sealants. 20 MICRONS also manufactures specialised products for the Cosmetics, Cement and Concrete, Household Products, Detergent, Textile industries. 20 Microns Limited is an ISO 9001:2000 certified Company. Company's operations are divided into five geographical regions West, South, North, East and International. Each regional division has its own production, commercial distribution and technical facilities. 20 Microns Limited available in Chalk, Calcite, Marble and Dolomite. Chalk is formed by shells of NANOFOSSILS. This is fine microcrystalline material. Chalk quarries are located at Gujarat, India. 20ML marketing and other activities are mainly operating through two major segments in Minerals namely VAD (Value Added Products) and C&C (Commodity and Consumers). The segments are mainly to have a focus on the specific market. Both the segments have separate marketing teams to take care of the customer’s requirements. Objects of the Issue: 1. The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital: To augment the resources for the current ongoing expansion of its manufacturing capacity at various locations and invest in the sub micron particle sizes required by end market; 2. To enable listing the Equity Shares of Company on the Stock Exchanges; 3. General Corporate Purposes. 20 Microns Limited IPO Information:
Source: Chittorgarh.com Fri, 29 Aug 2008 10:30:00 +0200 Woes of retail investors over refund of payments in IPO are likely to be mitigated as market regulator Sebi on Thursday made alternative payment system for public issues effective from next month, which will ensure that the money of such investors is not blocked unless shares are actually allotted to them. The new system, called Applications Supported by Blocked Amount (ASBA), is based on the system of Self Certified Syndicate Banks (SCSBs). In this regard, the market regulator has also designated Corporation Bank, HDFC bank and Union Bank of India as SCSBs. These banks will be acting as an SCSB in public issues which open on or after September 1 onwards. The application forms for this payment mode will be submitted to banks which have been selected as SCSBs, the regulator said. Both the current system of payment through cheques and the alternative system would co-exist, the Sebi chairman has said earlier this month. The alternative payment system called the additional mode of payment through applications supported by blocked amount will exempt retail investors from paying advance fees and instead let the amount to be retained in bank accounts till allotment is completed. Under the new payment process, self-certified syndicate banks would accept applications of retail investors and block the fund to the extent of the bid amount and upload the details in the electronic bidding system of the bourses. They would then unblock the funds once allotments are finalised and transfer the amounts for allotted shares to the issuer. This mode of payment will apply only to public issues offered under the book-building route and only to those retail investors who bid at the cut-off price as the single option and agree not to revise their bids. The new system is expected to eliminate the process of refunds by companies to the applicants in case of non-allotment of shares. Source: profit.ndtv.com Fri, 29 Aug 2008 10:27:00 +0200 IPO Allotment Status is now available online for Austral Coke & Projects Limited IPO.
Click Here or Logon to : http://www.aarthiconsultants.com/ipostat.htm IPO listing on Thursday, September 4, 2008 (BSE Code: 533016 ). Austral Coke & Projects Limited IPO was open on August 07, 2008 and closed on August 13, 2008. IPO was oversubscribed by 1.65 times (0.6866 times in retail). Fri, 29 Aug 2008 10:23:00 +0200 IPO Allotment Status is now available online for Resurgere Mines & Minerals India Ltd IPO. Click Here or Logon to : http://www.intimespectrum.com/site/ipo.asp Resurgere Mines & Minerals India Ltd IPO listing on Monday, Sept 01, 2008. Resurgere Mines & Minerals India Limited IPO was open on August 11, 2008 and closed on August 13, 2008. IPO was oversubscribed by 1.16 times (0.3967 times in retail). Tue, 26 Aug 2008 08:49:00 +0200 Supreme Court (SC) rejected SVPCL’s appeal and urged them to refund the money to the investors. The SVPCL IPO was open from October 22, 2007 to October 26, 2007 and subscribed 1.09 times (retail 2.2419 times). Company filed for listing at BSE on 17th January 2008 but BSE rejected the application as Post issue Merchant Bankers (UTI Securities Limited) didn’t provided an undertaking as required. Company moved to Andhra Pradesh High Court and then Supreme Court but lost the both the cases. Since Oct 2007 thousands of investor’s money got stuck due to these legal problems. Today once SC rejected SVPCL’s appeal, it’s now clear that SVPCL has to refund the money back to its IPO investors soon. SVPCL Ltd officials were unable to comment of this. Courtesy: greymarket.co.in |
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