13 Apr 07 Board of Apollo Tyres to consider stock-split proposal on 1 May 2007, along with FY 2007 results

Apollo Tyres today surged by about 2.5% to Rs 283, after an announcement was made that the company’s board will consider a stock-split proposal on 1 May 2007, along with FY 2007 results. As soon as the announcement was made the share prices zoomed to Rs.300 by 2.30 PM, but came off the high and settled at Rs.283 at the closing bell.

13 Apr 07 Infosys results boosts prices of IT stocks

Following Infosys’ results which were above market expectations, all IT stocks surged ahead. Satyam Computers surged nearly 8% to Rs 481. Satyam Computers was the top gainer from the BSE ‘A’ group, followed by Geometric Software, which surged 7.8% to Rs 125 and HCL Technologies, which surged 7.3% to Rs 308.

Though Infosys gave a – not so attractive – FY 2008 EPS growth guidance, it didnt affect the market sentiments since this was already factored in, by the market.

13 Apr 07 Bharat Seats – Net profit down, but board approves 1:1 bonus and recommends 30% final dividend

After its meeting today, the board of Bharat Seats has approved a 1:1 bonus and a 30% dividend (Rs.3 per share) subject to approval from shareholders.

Net profit of Bharat Seats was down 17.07% to Rs 0.68 crore in the quarter ended March 2007 against Rs 0.82 crore during the quarter ended March 2006.

Net sales grew by 20.81% to Rs 50.04 crore in the quarter ended March 2007 as against Rs 41.42 crore during the quarter ended March 2006.

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 Markets exercise caution before crucial Infosys results

The 30-share BSE Sensex lost 69.43 points to close the day at 13,113.81. Intraday, it moved over 129 points, between a low of 13,030.87 and a high of 13,160.15. The S&P CNX Nifty was down by about 33 points to close the day at 3,829.85. The Nifty April futures were trading at 3798.

Infosys results are expected tomorrow during market hours and hence the market may witness extreme volatility.

11 Apr 07 Welspun Gujarat Stahl Rohren zooms 12.08%

Welspun Gujarat Stahl Rohren was the second biggest gainer from BSE’s A group. As per recent media reports, Welspun Gujarat Stahl Rohren is gearing up to bid for pipeline projects in Saudi Arabia, Iran and Indonesia. Media reports also suggest that the company is expecting to win more huge orders from the US.

10 Apr 07 Indian Stock Market – Interesting correlation between Infosys results and market movement

Since 2001, when the practice of coming out with a guidance started, Infosys has disappointed every alternate year on that front. And in five of the last six times, Infosys’ stock and the broader market have declined on the results’ day (or in the first trading session after results, in case the markets were closed) – no matter what the guidance.

The sole exception was 14 April 2006, when Infosys beat street estimates by guiding revenue growth of 30.7% and EPS growth of 28.4% for the last financial year. But on that Friday, the market was closed for Ambedkar Jayanti. When they opened on Monday, 17 April 2007, the Infosys stock zoomed 6.93%, and the Sensex ended with a gain of 302 points (2.69%).

10 Apr 07 Indian Stock Market – IT stocks in correction mode ahead of infosys results

Frontline IT stocks went into correction mode ahead of their quarterly results. The BSE IT Index was down by 2.07%. The BSE IT Index was the biggest loser among sectoral indices on BSE.

Satyam Computers was the biggest loser. It slipped 3.40% to Rs 445.95, on a volume of 6.83 lakh shares. Infosys slipped 2.15% to Rs 2000, Wipro slipped 2.63% to Rs 547 and TCS was down 1.50% to Rs 1198. These stocks also suffered under concerns relating to results.

Infosys’ FY 2008 guidance is the next major trigger for the market. The rupee’s sharp surge in late-March 2007 – early April 2007, an uncertain US economic outlook and certain client-specific risks, have raised concerns that the FY 2008 guidance by Infosys Technologies may turn out conservative. Infosys unveils the full year guidance at the beginning of the financial year along with Q4 March 2007 results, on Friday, 13 April 2007.

For Q4 March 2007, Infosys has given a guidance of income to be in the range of Rs 3789 crore and Rs 3798 crore; indicating a Y-o-Y growth of 44.4% – 44.7%. The EPS is expected to be Rs 17.88; showing Y-o-Y growth of 46.3%.

For the full year ending March 2007, Infosys’ income is expected to be in the range of Rs 13,910 crore and Rs 13,919 crore; Y-o-Y growth of 46.1% – 46.2%. EPS before exceptional items is expected to be Rs 66.63, a Y-o-Y growth of 48%.

09 Apr 07 SGX to acquire a 5% Stake in BSE

SGX will subscribe to the shares of BSE at Rs. 5,200 per share for Rs 189 crore. SGX and BSE have agreed to actively explore collaboration in various areas relating to listings and product development, leveraging on SGX’s leading position as a regional hub for derivatives and international listings and BSE’s strong presence in India.

09 Apr 07 Accel Frontline Limited ties up with Trend micro Inc, USA

Accel Frontline Limited has entered into a tie-up with Trend micro Inc, USA, to offer technical helpdesk services for Trend Micro’s Worry-free range of products targeted at Small & Medium Businesses (SMBs) in India. Apart from handling queries on product installation, configuration and functionally, the helpdesk will provide product related technical help and also take reports of any new threats that the customer may face. Tend Micro is a leader in network antivirus and Internet content security software and services. Founded was in the year 1988 and it provides individuals and organizations of all sizes with award-winning security software, hardware and services. Trend Micro & Accel Frontline join hands to support SMB Security Service needs.