17 Apr 07 TCS Q42007 results disappointing
The TCS stock was beaten in the market, after it came out with dissapointing Q4 results. The profit margins were very low. The markets anticipated an increase in the operating profit margins in Q4 2007.
TCS shares had witnessed a solid pre-results surge, especially after the sector leader Infosys gave a very strong guidance for FY 2008. However the tremendous rise in rupee is putting a huge pressure on the margins of all the companies operating in the IT space.
16 Apr 07 Welspun Gujarat Stahl Rohren Ltd. bags orders worth Rs. 1089 crores
Welspun-Gujarat Stahl Rohren Ltd has informed both the leading Indian stock exchanges that the Company has bagged prestigious pipeline orders worth Rs 1089 Crores, $250 million, for the supply of line pipes both in India and abroad. These projects are to be executed for both LSAW and HSAW Pipes. These orders take the Welspun-Gujarat Stahl Rohren’s current pending order book to about Rs. 4,000 Crores.
16 Apr 07 Bharati Shipyard acquires Shipyard machinery and equipments of Swan Hunter
Bharati Shipyard limited which is one of the leading shipyards in India, has acquired all the machinery and equipments of newcastle based internationally renowned shipyard, Swan Hunter. Swan Hunter which has 130 years of existence has built over 1600 ships including over 400 navy vessels.
These equipments will be used by Bharati Shipyard in its existing shipyards as well as its greenfield projects.
16 Apr 07 CMC announces a dividend of Rs.8 per share
The Board of Directors of CMC Ltd., a TATA group company, recommended a dividend of 80% on equity shares of face value of Rs.10 each, subject to the statutory approval of shareholders at the company’s 31st Annual General Meeting scheduled to be held on June 25, 2007
13 Apr 07 Infosys declares a dividend of 130 percent
Following impressive results, Infosys declared a dividend of 130 percent, which works out to be Rs.6.5 per share of face value 5. The decision to reward its shareholders was taken by the company’s board of directors, when they met to approve the financial results for FY07.For the previous financial year (FY 2006), the blue-chip firm rewarded its investors with a silver jubilee dividend of 600% and a 1:1 bonus issue.
13 Apr 07 Infosys Technologies announces its Q4-07 and FY07 results
Infosys Technologies reported net profit of Rs 1,144 crore (Rs 11.44 billion) in the fourth quarter versus Rs 983 crore (Rs 9.83 billion) in the previous year, a growth of 16.38%.
The shares of Infosys Technologies rose nearly 3% to Rs 2102, in early and volatile trade, even as the company offered a muted EPS growth forecast for the Financial Year 2008.
For the FY07, Infosys’ net profit jumped 56.87% to Rs 3,856 crore from Rs 2,458 crore. CNBC-TV18 estimated the net profit of Infosys at Rs 3751.08 crore. Revenue was up 45.91% to Rs 13,893 crore from Rs 9,521 crore. The CNBC-TV18 estimated at Rs 14,009.71 crore (Rs 140.09 billion).
12 Apr 07 Panoramic Universal signs a preliminary agreement to acquire Sri Vatsa Hotels.
As per the agreement, Panoramic Universal will pay the shareholders of Sri Vatsa Hotels Rs 17.65 crore. The shares of Panoramic Universal were up 1.63% to close the day at Rs 134.10. However volumes were very thin. Less than 2000 shares changed hands on the BSE.
12 Apr 07 Block Deal in S.Kumars
A block deal for 5.56 lakh shares took place in the S.Kumars counter on Thursday in the BSE. Riding on this block deal, the stock zoomed to touch a high of Rs.80.70.
The stock has seen a astonishing bull run in the past few weeks, agter de-merging of the retail business was announced. From Rs 66.45 on 2 April 2007, the stock rallied to Rs 77.80 by 11 April 2007.
12 Apr 07 Orbit Corp ends the day at a premium
Orbit Corp listed at a discount, at Rs. 90, on the BSE. However it immediately bounced back and hit a high of Rs.136.8 before ending the day with a handsome gain of 16.36%. Orbit Corp’s high and low for the day was Rs. 136.80 and Rs. 90, respectively. The issue price of the shares in the IPO was fixed at Rs. 110
Orbit Corp, which redevelops projects in Mumbai, is currently implementing 16 projects at various upmarket, premium locations. The estimated sale area for these projects is about 6,85,327 sq. ft. The company has also successfully bid at Rs 333 crore, for Gujarat Ambuja Cements’ approximately 8,763 square meters of land at Kalina and neighbouring Santacruz in Mumbai.
11 Apr 07 Educomp solutions wins Rs.18.3 crore order
Educomp Solutions Ltd has received Letter of Intent from Hartron, Govt of Haryana, for imparting CAL Programme in 716 Govt. Senior Secondary Schools in State of Haryana. The size of the order is Rs 18.30 Crores which is to be executed over a period of 3 years.
11 Apr 07 Elecon Engineering wins contract worth 230 crore
Elecon Engineering Company Ltd has informed the major indian stock exchanges that the Company has won a contract worth Rs. 229.09 Crores for supply and installation of Coal Handling Plant Package for National Capital Thermal Power Project (NCTPP), Dadri, from NTPC Ltd.
11 Apr 07 iGATE Global Solutions (iGATE) posts good results but shares slip on the indian stock exchanges
iGATE Global Solutions (iGATE) slipped 4.83% to Rs 383.10, after striking a high of Rs 422. iGATE, today reported Q4 Net Profit of Rs 22.6 crore vs Rs 15.95 crore (QoQ). The revenues are at Rs 210.1 crore vs Rs 210.7 crore. The EPS is at Rs 15.90. The company added 25 new clients in Finacial Year 2007. Q4 EBITDA margins were at 15%. The company plans to increase offshore salaries by 15%, onsite by 2%.
11 Apr 07 Geometric Software zooms on expectations of good results
Geometric Software jumped 16.2% and was the biggest gainer from BSE’s A group shares today. There was renewed buying on expectations of excellent Q4 results.
10 Apr 07 Subhash Projects & Marketing Ltd – Complete details about the Rs.309 Crores order
Subhash Projects & Marketing Ltd has informed the leading indian stock Exchanges that
“The Company has bagged orders cumulatively worth Rs. 309 Crores for execution of power projects. These include projects worth Rs. 220 Crores to be executed for Karnataka Power Transmission Corporation Ltd. and Hubli Electricity Supply Co. Ltd. in Karnataka and Rs. 89 Crores for Power Grid Corporation of India Ltd. (PGCIL) in Bihar on turnkey basis. The scope of work in Karnataka includes upgradation of existing sub stations, construction of 220/110/66 KV sub-stations and transmission lines. The order for PGCIL in Bihar involves construction of new underground cabling as well as revamp of existing limes under the APDRP Phase – II. The completion period for the above projects will be 12-18 months. The Company has entered the power business in 2001 and is one of the foremost players to participate in the rural electrification drive. Today, the company’s power business contributes to around 50% of total order book, currently at Rs. 2900 Crores”
10 Apr 07 ABG Shipyard surges ahead of listing on the National Stock Exchange (NSE)
ABG Shipyard surged for the second day in a row on the eve of the scrip’s listing on the National Stock Exchange (NSE). The stock of ABG Shipyard was up 2.50% to Rs 364. ABG Shipyard also secured a major order for constructing four 54,000 DWT Supramax bulk carriers, worth $ 139 million (Rs 618 crore) from Essar Shipping & Logistics, Cyprus, as a part of its ship acquisition programme. Following the order, the order-book position of ABG Shipyard, as on date, stands at about Rs 40,737.7 Mio (US$ 915.5 Mio).
