Owner: Quick Scrip URL:http://quickscrip.blogspot.com Join Date: Sun, 30 Mar 2008 11:03:52 -0500 Rating:0 Site Description: A quick post on the Indian stock markets with recommendations on buy/sell Site statistics:Click here
BHEL plunges 6.07% following provisional result figures 2008-04-03 08:56:00 Shares of Bharat Heavy Electricals (BHEL), India`s biggest power equipments maker, plunged on Thursday after the company reported a 15.31% growth in turnover to Rs 216.08 billion while the net profit of the company climbed 16.56% to Rs 28.15 billion (as per provisional figures) in FY2008 compared with prior year period. Shares of the company slipped soon after the announcement of provisional figures.Shares of the company plunged Rs 112.50, or 6.07%, to trade at Rs 1,740, while the 30-share benchmark index, Sensex climbed 12.59 points, or 0.08%, to trade at 15,762.99. The stock has shown a fall of 12.38% over the week and 17.12% over a month. The total volume of shares traded was 830,296 at the BSE (2.08 p.m., Thursday).
Read more:plunges
GAIL signs historic contract 2008-04-01 23:24:00 From The HinduGAIL India has signed a historiccontract
with the consortia of Reliance Industries, the BG Group of Britain and Oil and Natural Gas Corporation (ONGC) for buying the entire quantity of gas (17.3 million standard cubic metres a day).According to an official statement here, GAIL will buy the gas at $5.73 per million British thermal unit for the Panna field and $5.57 per million British thermal unit for the Tapti field.The contract was signed on Monday and is in pursuance of the Government appointing GAIL as its nominee to take the entire Panna-Mukta-Tapti (PMT) gas.Agreements were also reached regarding the supplies to consumers.GAIL signed a term-sheet to supply, at production sharing contract prices, 3.6 million standard cubic metres (mscmd) of natural gas to Reliance Indust Read more:signs
Govt of Singapore picks up stake in ICSA 2008-04-06 03:02:00 ICSA (India) today said that the Goverment of Singapore
Investment Corporation Pvt Ltd, along with its sub-accounts, has picked up 22,11,246 shares, amounting to a stake of 5.0245 per cent in the company. ICSA develops technology solutions for the power, oil, water and gas sectors to identify T&D losses and monitor power and oil consumption by identifying distribution losses. Earlier this year, Goldman Sachs had invested USD 46 million through foreign currency convertible bonds (FCCBs) apart from acquiring 3,50,000 convertible warrants. Other global investors include UBS, Merill Lynch and Morgan Stanley. ICSA (India) presently has an order-book of nearly Rs 1,000-crore, the release said.
CRISIL assigns AAA & P1+ to BHEL 2008-04-04 11:29:00 From myiris.comCRISIL assigned its bank loan ratings of `AAA/Stable/P1+` to the various bank facilities of Bharat Heavy Electricals (BHEL). The ratings reflect BHEL`s dominant position in the domestic power generation and electrical equipment markets, healthy order book position, and strong financial risk profile. These rating strengths are partially offset by the competitive market scenario, and BHEL`s limited experience in new technologies. CRISIL has withdrawn its ratings on BHEL`s debt and fixed deposit programmes. The withdrawal is on the request of the company, which has confirmed that there is no amount outstanding against the instruments.Full story
India's BHEL to form JV for nuclear projects 2008-04-04 11:28:00 India's Bharat Heavy Electricals Ltd on Friday it would form a joint-venture company with Nuclear Power Corp of India Ltd (NPCIL) for engineering contracts for nuclear power plants. BHEL and NPCIL, both run by the government, are in talks with companies from France, Germany and the United States for a technology partner, BHEL Chairman K. Ravi Kumar told a news conference. He declined to give names, but said the joint venture would be formed within a year. Equity structure of the joint venture is yet to be decided and will depend on whether the technology partner is willing to buy a stake, Kumar said. BHEL would use its existing facility at Bhopal in the central Indian state of Madhya Pradesh for the venture's operations and the initial investment would be betwe Read more:India
Religare recommends 'buy' on BHEL for target Rs 2,021 2008-04-11 10:15:00 From economictimes.comReligare Securities has recommended a ‘buy’ on Bharat Heavy Electricals for a target price of Rs 2,021, a return of 21 per cent on the current market price. BHEL is building long-term technical capabilities and looking to diversify into other established business avenues such as locomotives. The company’s order book provides strong revenue visibility at 4 times FY08 sales. Religare has factored in a 20 per cent CAGR in revenue for FY08-FY10. At current price of Rs 1,765, stock is trading at a P/E of 26 times and 21 times on FY09E and FY10E respectively. BHEL has corrected 40 per cent from its high of Rs 2,925 since January 2008 and currently offers a strong investment proposition for long-term investors. Over the last two year, the company has witnessed
Mastek continues to quote at inexpensive valuations 2008-04-11 10:12:00 From myiris.comAccording to the analysts` at Emkay, valuations of Mastek continues to be inexpensive and buyback should offer support. (CMP: Rs 311)Mastek reported strong Q3FY08 results with revenues at Rs 2,334 million. The analysts have revised their earnings estimates by ~16% and 17% for FY08E and FY09E respectively to Rs 43.7 and Rs 46.4 respectively (from Rs 37.7 and Rs 39.6 earlier) to factor in higher operating margins and STG acquisition. Mastek continues to quote at inexpensive valuations of ~7.5x and 7x on FY08E and FY09E earnings with further support in the form of an open market buyback.The analysts say that despite the increased visibility from new deals over the past 2 months, Mastek heads into FY09 with NHS contract ramp down a quarter away (contributes to ~15-16% of FY08 re
High inflation may shrink India's GDP by 1.25%: IMF 2008-04-11 10:09:00 India
's economic growth is likely to shrink
by 1.25 per cent to 7.9 per cent this fiscal, mainly on account of tight monetary conditions and continued pressure on inflation, the International Monetary Fund said today. "India's growth is expected to decline by 1.25 per cent to 7.9 per cent driven by slowdown in investment on tightening credit conditions. Fiscal stimulus will provide a partial offset," stated the IMF's Regional Economic Outlook: Asia and Pacific released here. The IMF report also warned that investment would be more affected than consumption on account of the tight monetary conditions and fall in global economy following US sub-prime crisis. The growth momentum has eased in the recent months, the report stated. Compared to China, India has little fiscal space to k
ICSA has price target of 600 INR 2008-04-13 00:27:00 From moneycontrol.comAshish Maheshwari of India Capital Markets is of the view that ICSA has target of Rs 600. Maheshwari told CNBC-TV18, "ICSA is a company which is doing very well in the last few years. The company has done remarkably well, besides this, if we see data like in FY06, the company was having only a turn over of around Rs 81 crore, which we are envisaging that in 2010 it will be around Rs 1,000 crore, and on the bottom line site, the company was having a profit of around Rs 15 crore in FY06, we are expecting it to touch at around Rs 200 crore." He further added, "This company is also having a very unique business model that is software for power and oil and gas, and recently they have venture into the EPC contract for oil and gas and water management. What we are advising Read more:price
BHEL`s power equipments generate 454.6 bn units of power 2008-04-24 10:03:00 Power equipments built by state-run Bharat Heavy Electricals (BHEL) registered a record generation of 454.6 billion units
of electricity in 2007-08, compared to 432.6 billion units in the year-ago period. BHEL manufactured thermal, hydro, gas and nuclear sets generate
d over 5% more power
in the last fiscal giving boost to power generation in the country. The 200-500 mw thermal sets made by BHEL boosted the country`s thermal generating capacity.Shares of the company were last trading up Rs 12.1, or 0.66%, at Rs 1,839. The total volume of shares traded at the BSE was 194,090 (2.42 p.m., Thursday).
ICSA posts excellent results 2008-04-24 10:00:00 ICSA (India) Limited has posted excellent
profits for the year ended March 31, 2008. ICSA posted a profit after taxation of Rs 126.50 Crores for the Year ended March 31, 2008 as compared to Rs 58.92 Crores for the Year ended March 31, 2007. This shows a 114.71 % increase of PAT over the previous year. Total Income has increased by 103.17 %, from Rs 333.25 Crores for the Year ended March 31, 2007 to Rs 677.05 Crores for the Year ended March 31, 2008.The company has posted a profit after taxation of Rs 37.46 crores for the quarter ended March 31, 2008 as compared to Rs 18.31 crores for the Q4 in the last fiscal, which is a jump of 104.56 % over corresponding quarter of the previous year. Total Income increased by 109.83 % when compared with corresponding quarter of the previous year, from R Read more:posts
, results
Emkay recommends BUY on Concor 2008-04-27 09:56:00 Concor reported Q4FY08 results which were in-line with our expectation. The company reported revenue of Rs.9.0bn in Q4FY08, increase of 10%. EBITDA grew by 8.1 % to Rs.2.3bn and EBITDA margins declined by 170bps to 25.7%. Adjusting for higher lease payments to railways and employee cost, EBITDA margins would have been higher by 70bps to 28.5%. The company is on the expansion spree and has entailed total capex of Rs.7bn for FY09. Given the massive infrastructure that the company possesses, we believe the company will remain a dominant player in rail haulage despite competition from the private players. We expect the company to report revenue and net profit of Rs.39.1bn and of Rs.8.4bn in FY09, respectively. The stock trades at 13.4xFY09 earnings. Maintain BUY with target price of Rs.1292.Fu
Mastek postpones buyback 2008-04-28 22:45:00 Software services firm Mastek Ltd said on Monday it has postponed its buyback
of shares, pending receipt of the observations from Securities and Exchange Board of India on its public announcement for the buyback.The buyback, approved on October 11 last year, was to have started on Monday. Shares in the company closed down 5.2 percent at 316.10 rupees in the Mumbai market.
India inflation at 31/2 year high 2008-05-09 03:19:00 India's annual inflation is expected to remain at 3-½ year highs in late April due to rising food and oil prices, a Reuters poll of 10 analysts showed on Thursday. The wholesale price index is forecast to have risen 7.61 percent in the 12 months to April 26, the highest since Nov. 13, 2004 when it stood at 7.68 percent. It rose 7.57 percent in the previous week. The federal government, under pressure to contain prices ahead of state polls this year and national elections due by next year, has cut import duties on edible oil and curbed rice exports. On April 29, the central bank raised the proportion of deposits that banks must set aside by a quarter point to a seven-year high of 8.25 percent, effective May 24, saying it wanted to push inflation back to around 5.5 percent in 2008/09. It fo Read more:India
No shortage of oil in the market: OPEC 2008-05-09 03:16:00 The Organisation of Petroleum Exporting Countries (OPEC) has said that there was no shortage of oil in the world market and the organisation would act if the market shows need for any measures, a news agency reported on Friday. "The organisation will continue to strive for a stable and balanced market, with prices that reflect fundamentals, and are favourable to both producers and consumers," OPEC Secretary General Abdalla Salem El-Badri said Thursday. He added that the petroleum prices had become increasingly volatile in recent months, mainly because of financial market developments and the increased flow of speculative funds into oil futures. "The turmoil in some global equity markets and the considerable depreciation in the US dollar have encouraged investors to seek better returns in c
Gold gains for sixth straight day on firm global trend 2008-05-11 09:37:00 Gold gained for the sixth straight session on Saturday, up by Rs 40 to Rs 12,100 per 10 gram, on the bullion market here on sustained buying by stockists amid strong global conditions and high crude oil prices. The precious metal surged by Rs 615 in last six trading session as investors and stockists increased their holdings as gold continued to rule firm in global markets. Marketmen said, spi Read more:gains
Moody`s assigns `Baa2/ A3` ratings to GAIL 2008-05-14 04:32:00 International credit rating agency, Moody
`s assigned a `Baa2` indicative foreign currency debt rating (1 notch above the sovereign foreign currency rating) and `A3` local currency issuer rating (5 notches above the sovereign local currency rating) to GAIL (India). The rating signifies a stable outlook. The rating being released by Moody`s is in response to the company`s proposal for getting an int
GAIL Q4 results 2008-05-14 04:31:00 GAIL India reported a marginal rise in standalone net profit for the quarter ended March 2008. During the quarter, the profit of the company`s earnings rose 6.12% to Rs 7,223.80 million from Rs 6,807.30 million in the same quarter previous year. The company posted earnings of Rs 8.54 a share during the quarter, registering 6.09% rise over prior year period.Net sales for the quarter climbed 27.08% Read more:results
ICSA looks for overseas acquisition 2008-05-30 02:47:00 ICSA Ltd, a Hyderabad-based solutions provider for power distribution, is likely to acquire strategic companies in the US and Europe to make inroads in the energy audit market there.G Bala Reddy, chairman and managing director, ICSA, told DNA Money: “The export market, which mainly comprises services like data acquisition and automation, has a huge potential.”He said, as far as the export mark Read more:overseas
GMDC Q4 & FY 08 results 2008-06-12 12:24:00 Gujarat Mineral Development Corporation has announced the following Audited results
for the quarter & year ended March 31, 2008: The results for the Quarter ended March 31, 2008 The company has posted a net profit of Rs 636.854 million for the quarter ended March 31, 2008 as compared to Rs 128.285 million for the quarter ended March 31, 2007. Total income has increased from Rs 2077.646 million
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