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- Maruti Suzuki???s May sales surges 27.9%
- Gammon Infrastructure moves up on its arm commencing partial tolling operations
- ACC rises on its plan of setting up mega cement project in Maharashtra
- TVS Motor???s May sales up 30%
- Bharat Forge and KP1T Cummins to make technology announcement on June 04
- Benchmarks dribble after a flat opening
- Religare Enterprises moves up on transferring its stake in RCL
- Bhagyanagar India gets board nod to buyback $10 million unsecured FCCBs
- Tata Communications announces FY10 results; net profit slips 6.35%
- Asian Paints marginally up on the BSE
| Maruti Suzuki???s May sales surges 27.9% Posted: 31 May 2010 05:02 PM PDT
Maruti Suzuki India, the country???s leading passenger car manufacturer, has reported a growth of 27.9% in May 2010 sales. The company sold total 1,02,175 vehicles in May this year against 79,872 units in the year ago period. This is the first time the company has sold over one lakh vehicles in a month, the previous highest monthly sales was 96,650 units, sold in February 2010. Its domestic sales surged 27.2% in May 2010 to 90,041 units from 70,785 units in May 2009 and export increased 33.5% in May 2010 to 12,134 units from 9,087 units in the corresponding month last year. | ||||||
| Gammon Infrastructure moves up on its arm commencing partial tolling operations Posted: 31 May 2010 04:52 PM PDT Gammon Infrastructure Projects??? subsidiary — Mumbai Nasik Expressway — has started partial tolling operations at the Nasik end of the road stretch for 64 km, out of the total length of 100 km with effect from May 29, 2010. The scrip is currently trading at Rs. 27.40, up by 0.45 points or 1.67% from its previous closing of Rs. 26.95 on the BSE. The stock opened at Rs. 26.95 and has touched a high and low of Rs. 27.75 and Rs. 26.95 respectively. So far 83420 shares were traded on the counter. The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 31.45 on 04-Jun-2009 and a 52 week low of Rs. 17.20 on 27-Nov-2009. Last one week high and low of the scrip stood at Rs. 27.40 and Rs. 25.10 respectively. The current market cap of the company is Rs. 1995.49 crore. The promoters holding in the company stood at 75.98% while Institutions and Non-Institutions held 11.68% and 12.34% respectively. The company has collected a toll of Rs 33.26 lakh for the initial two days. Mumbai Nasik Expressway is responsible for the development, operations and maintenance of the Mumbai – Nasik road stretch on NH- 3. | ||||||
| ACC rises on its plan of setting up mega cement project in Maharashtra Posted: 31 May 2010 04:45 PM PDT ACC is currently trading at Rs 819.50, up by 2.50 points or 0.31% from its previous closing of Rs 817 on the BSE. The scrip opened at Rs 817 and has touched a high and low of Rs 825 and Rs 811.35 respectively. So far 21,185 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 1017 on 10-Mar-2010 and a 52 week low of Rs 686.20 on 03-Nov-2009. Last one week high and low of the scrip stood at Rs 850.50 and Rs 809.30 respectively. The current market cap of the company is Rs 15,350.03 crore. The promoters holding in the company stood at 46.20% while Institutions and Non-Institutions held 32.56% and 21.24% respectively. ACC, one of the leading cement makers in the country is setting up a mega cement project of capacity 3 million tonnes per annum (MTPA) of cement at Ghughus in the Chandrapur district of Maharashtra at a cost of about Rs 1500 crore. The project is expected to be completed in the third quarter of 2010. An MoU in this regard has been signed between the company and the Government of Maharashtra. | ||||||
| TVS Motor???s May sales up 30% Posted: 31 May 2010 04:43 PM PDT Chennai-based two-wheeler maker, TVS Motor Company, has reported 30% jump in its sales for the month of May 2010. It sold total 154,667 two-wheelers during the month under review against 118,574 units in May 2009. On domestic front, the company has clocked 27% growth by selling 136,621 units as compared to 107,439 units in the year ago period. Sales from exports also showed robust growth of 62% during the latest month. It sold 18,046 units through exports in May 2010 against 11,135 units in May 2009. Motorcycle, scooters and three-wheeler segments of the company registered a year-on-year growth of 27%, 42% and 227.16%, respectively in the month of May 2010. Its cumulative sales for the current financial year grew by 29% to 299,356 units from 231,693 units in the comparable period of the previous fiscal. | ||||||
| Bharat Forge and KP1T Cummins to make technology announcement on June 04 Posted: 31 May 2010 04:28 PM PDT Bharat Forge, the world???s second largest forgings maker has informed that the company and KP1T Cummins Infosystems are jointly planning to make a technology announcement on June 04, 2010 at New Delhi. Bharat Forge is into manufacturing components for automotive segment — passenger cars, SUVs, light, medium and heavy commercial vehicles, tractors and diesel engine, non-automotive segment — specialized components for marine, mining and construction equipment and for capital goods segment — railways, power, oil and gas and aerospace. | ||||||
| Benchmarks dribble after a flat opening Posted: 31 May 2010 04:24 PM PDT Key benchmark equity indices plunged after a flat opening and are trading around the day’s low. All the Asian markets are trading in the negative terrain, concerned over the political instability in Japan and the tepid growth of Chinese manufacturing sector. Back home, Metal, Capital Goods and Realty segments are putting maximum selling pressure on the key indices while Healthcare and Consumer Durables counters are the leading gainers in the BSE sectoral space. The FIIs (Foreign Institutional Investors) were net buyers of around Rs 483 crore in the cash segment on Monday, reflecting their positive outlook on the Indian economy after the declaration of the fourth quarter GDP data yesterday. The broader indices are trading in the green with BSE mid-cap and small-cap indices were up by 0.39% and 0.43% respectively. The markets breadth in BSE was in favour of advances in the ratio of 1321:891 while 78 scrips remained unchanged. The 30 share BSE Sensex opened at 16,942.82, about two points lower from its previous closing of 16,944.63, and has touched the high and low of 16,942.82 and 16,834.16 respectively. The index is currently trading at 16,858.56, down by 86.07 points or 0.51%. On the other hand, BSE Mid-cap and Small-cap indices were up by 0.39% and 0.43% respectively. The top gaining sectoral indices on the BSE were HC up by 0.85%, CD up by 0.39%, FMCG up by 0.11% and Auto up by 0.06%. On the other hand, the top losing sectoral indices on the BSE were Metal down by 1.05%, CG down by 0.67%, Realty down by 0.60%, Bankex down by 0.38% and Oil & Gas down by 0.26%. The top gainers of the Sensex were M&M up by 0.87%, Cipla up by 0.69%, ACC up by 0.48%, ONGC up by 0.37% and ITC up by 0.34%. The top losers of index were Hindalco down by 2%, Sterlite Industries down by 1.60%, ICICI Bank 1.33%, HDFC down by 1.30% and L&T down by 1.09%. The Indian economy grew by 8.6% in the last quarter, ending a volatile fiscal year on a very positive note. The strong performance in March quarter, coupled with upside revision to estimates of gross domestic product (GDP) for second and third quarters also helped push the full fiscal growth rate to 7.4%, above the advance estimates of 7.2% released by the Central Statistical Organisation (CSO) earlier. However, even as the growth is accelerating, concerns on rising inflation are building up too. The headline inflation as reflected in movement of wholesale price index (WPI) is hovering close to the double digit mark, despite having come down a notch in the latest reported data. Retail prices are showing an even worse picture with three different consumer price indices (CPI) showing inflation of 13-15%. The Reserve Bank of India (RBI) has raised interest rates twice since mid-March by a quarter-percentage point each time. It has also hiked the cash reserve ratio (CRR) by 100 bps since January. However, there is still abundant liquidity in the system which has resulted in little transmission of monetary policy actions so far. In comparison to inflation numbers, central bank’s benchmark reverse-repurchase rate at 3.75%, which indicates what interest commercial banks can get from RBI for their short term surplus liquidity, seems clearly out of the line. Since the system still has surplus liquidity, it’s the reverse repo rate that signals market rates and at such low level, it not in synchronisation with the inflationary forces. The S&P CNX Nifty opened at 5,086.25, compared to its previous closing of 5,086.30 and has touched a high and a low of 5,086.95 and 5051.20, respectively. The index is currently trading at 5,056.50, down by 29.80 points or 0.59%. There were 12 advances against 36 declines, while 2 scrips were unchanged on the index. The top gainers of the Nifty were BPCL up by 2.30%, Kotak Bank up by 2.10%, Sun Pharmaceuticals up by 1.81%, Suzlon up by 1.07%, GAIL up by 1%. The top losers of the index were Unitech down by 2.34%, Hindalco down by 2.16%, Cairn down by 1.67%, HCL Technologies down by 1.62% and Sterlite Industries 1.62%. All Asian equity markets were trading in the negative terrain on the back of concerns over likely deceleration in Chinese economy. Shanghai Composite was down 1.01%, Hang Seng was down 0.64%, Jakarta Composite was down 1.20%, KLSE Composite was down 0.60%, Nikkei 225 was down 0.73%, Straits Times was down 0.76%, Seoul Composite was down 0.79% and Taiwan Weighted was down 0.67%. | ||||||
| Religare Enterprises moves up on transferring its stake in RCL Posted: 31 May 2010 04:14 PM PDT
Religare Enterprises is currently trading at Rs. 415.20, up by 3.00 points or 0.73% from its previous closing of Rs. 412.20 on the BSE. The scrip opened at Rs. 415.00 and has touched a high and low of Rs. 422.00 and Rs. 415.00 respectively. So far 11461 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 522.98 on 04-Jun-2009 and a 52 week low of Rs. 334.20 on 11-Aug-2009. Last one week high and low of the scrip stood at Rs. 421.90 and Rs. 405.50 respectively. The current market cap of the company is Rs. 5305.34 crore. The promoters holding in the company stood at 57.14% while Institutions and Non-Institutions held 3.97% and 38.89% respectively. Religare Enterprises has transferred entire 20, 00,000 equity shares held by it in Religare Commodities (RCL), a wholly owned subsidiary, to Religare Securities (RSL), another wholly owned subsidiary of the company. Following the transfer, RCL has become a wholly owned subsidiary of RSL directly, and continues to be one of the wholly owned subsidiaries of the company, indirectly. | ||||||
| Bhagyanagar India gets board nod to buyback $10 million unsecured FCCBs Posted: 31 May 2010 04:12 PM PDT Bhagyanagar India has informed that the board of directors (BOD) of the company at a meeting held on May 29, 2010 has accorded its approval for buyback of $10.00 million unsecured Foreign Currency Convertible Bonds (FCCB) listed on Luxembourg Stock Exchange. The board has also given its approval to raise funds through External Commercial Borrowings (ECB) for the said buyback as per RBI guidelines. Earlier too, the company had bought back 40 FCCB’s each of $1,00,000 aggregating $4.0 million (Nominal value) at a discount. The company is presently engaged in the manufacture of copper rods, copper foils, copper pipes, copper sheets, annealed bare copper strips; paper insulated copper conductors and insulated copper coils (field coils). | ||||||
| Tata Communications announces FY10 results; net profit slips 6.35% Posted: 31 May 2010 04:01 PM PDT
Tata Communications has announced the audited results for the year ended March 31, 2010. The company has posted a net profit of Rs 483.18 crore for the year ended March 31, 2010 as compared to Rs 515.95 crore for the year ended March 31, 2009, down 6.35%. Total Income has decreased from Rs 3919.25 crore for the year ended March 31, 2009 to Rs 3343.79 crore for the year ended March 31, 2010. On consolidated basis, the Group has posted a net loss of Rs (597.74) crore for the year ended March 31, 2010 as compared to net profit of Rs 315.80 crore for the year ended March 31, 2009. Total Income has increased from Rs 10157.15 crore for the year ended March 31, 2009 to Rs 11145.09 crore for the year ended March 31, 2010. | ||||||
| Asian Paints marginally up on the BSE Posted: 31 May 2010 03:53 PM PDT Asian Paints, India???s largest paint company has signed a Memorandum of Understanding (MoU) with Government of Maharashtra to set up a mega project for manufacturing paints and intermediates at Kesurdi, Satara in Maharashtra. The scrip is currently trading at Rs. 2,093.90, up by 7.25 rupees or 0.35% from its previous closing of Rs. 2086.65 on the Bombay Stock Exchange (BSE). The stock opened at Rs. 2112.85 and has touched a high and low of Rs. 2112.90 and Rs. 2084.00, respectively. The BSE ‘A’ group stock of face value of Rs. 10 each has touched a 52 week high of Rs. 2180.00 on 28-May-2010 and a 52 week low of Rs. 1050.60 on 18-Jun-2009. Last one week high and low of the scrip stood at Rs. 2180.00 and Rs. 2,060.00, respectively. The current market cap of the company is Rs. 20,047.23 crore. The promoters holding in the company stood at 50.53% while Institutions and Non-Institutions held 27.87% and 21.60%, respectively. The company will invest about Rs 735 crore for setting up the said paint plant in five years. The ultimate capacity of the plant would be 4 lakh tons. Asian Paints manufactures paints in the decorative, automotive and Industrial segments. Apart from these, the company also manufactures various accessories like, wall primer, wood primer, putty, stainers, etc. |
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