Monday, August 08, 2005

GTC Industries gains on Preferential offer proposal


GTC Industries is currently up 3.85% to Rs 105.75 on volumes of 10.53 lakh
shares.
It hit a high of Rs 109.85 and low of Rs 102.7 in intra-day trades. The peak
of Rs 109.85 is also the new all time high for this counter.
Marketmen probably had some clue of a positive development, and this was
reflected in the price. From the close of Rs 84.8 on 4 August 2005, the
scrip closed at a high of Rs 101.8.
GTC Industries informed BSE that a meeting of its board of directors is
scheduled on 16 August 2005, to consider the issue, on private placement and
/ or preferential basis, of equity shares and / or warrants or other
securities convertible into or carrying a right or option to subscribe to
the equity shares of the company; to the promoters / directors of the
company, their relatives, friends, associates, in accordance with SEBI's
Guidelines for Preferential Issues.
Sanjay Dalmia promoted GTC Industries manufactures cigarattes and tobacco
products. Main brands include Panama, Flair, Chancellor, Esquire, Legend (a
low tar and nicotine cigarette), Burton, and CHL (Chancellor Harward Luxury,
premium king-size cigarettes). The company was first in India to launch Ms
Special Filter, a unique cigarette for women.
For the quarter ended June 2005, the company posted a 11.11% rise in net
profit to Rs 3.40 crore (Rs 3.06 crore). Net sales however slid 18.6% to Rs
43.6 crore (Rs 53.56 crore).
The latest paid-up equity share capital of the company is Rs 16 crore.

Refinery scrips get down following record high crude prices


Surging oil prices took their toll on refinery shares for the second day in
a row today.
Shares of all the three oil marketing-cum-refining companies slipped in
early trade after oil prices hit a record high of $ 64 a barrel on Monday.
BPCL (down 1.4% to Rs 353), HPCL (down 1.2% to Rs 292) and Indian Oil
Corporation (IOC) (down 0.6% to Rs 418.80) all moved lower. 22,724 shares
changed hands in HPCL, 10,139 shares were traded in BPCL and 15,500 shares
changed hands in IOC.
These oil scrips had recovered from lower level recently on value buying at
lower level in a firm market. However, the stock prices came off later. For
instance, from a recent peak of Rs 387.50 on 2 August 2005, BPCL slipped to
Rs 358.10 by 8 August 2005. HPCL declined to Rs 295.90 by 8 August from a
recent high of Rs 308.80 on 2 August 2005.
High crude oil prices impact the marketing margins of oil companies since,
despite a surge in crude oil prices, domestic oil companies have not been
allowed to hike retail prices of petrol and diesel due to political pressure
on the government. The Left Front, which is supporting the government from
outside, is opposed to oil price hike.
These oil companies reported losses in Q1 June 2005 because the government
did not allow them to raise retail petrol and diesel prices in step with
rising crude oil prices.
Meanwhile, last week a parliamentary panel urged the government to halve
customs duty on petrol and diesel to help limit any increase in fuel prices.
The parliamentary panel suggested the customs duty be cut to 5% as the
existing 10% duty encouraged refiners to push up retail auto fuel prices.

Hindustan Motors jumped 7% on partnership news with Japan's Mitsubishi Motors


Hindustan Motors jumped 7% to Rs 43.80 boosted by reports that Japan's
Mitsubishi Motors will launch a slew of models in India over the next few
months in partnership with Hindustan Motors.
The stock rose on high volume of 73.04 lakh shares.
The stock surged in the past few days. From Rs 30.30 on 20 June 2005, the
scrip spurted to Rs 40.90 by 5 August 2005.
Aiming to increase sales in the burgeoning Indian car market, Japan's
Mitsubishi Motors will launch a slew of models in the country over the next
few months in partnership with Hindustan Motors. The models, which the
ailing Japanese carmaker plans to bring in India include 'Lancer Cedia',
SUVs 'Montero' and 'Outlander' and mini-van 'Grandis'.
Hindustan Motors began making the Lancer sedan in its plant from 1998 using
technology from Mitsubishi Motor Corp.
Mitsubishi recently said Hindustan Motors would expand production of the
Lancer from January 2006. The annual output is expected to more than double
to 4,500 in the year to March 2007.
For the quarter ended 31 March 2005, Hindustan Motors posted a lower net
loss of Rs 2.97 as against a net loss of Rs 17.74 in the previous year. Net
sales grew 16.27% to Rs 269.6 crore (Rs 231.88 crore).
For the full year ended 31 March 2005, net loss stood at Rs 30.66 crore
while net sales stood at Rs 928.4 crore.

Ruchi Infrastructure with no sellers


Ruchi Infrastructure is trading with huge volumes of 1945647 on NSE and
1380815 shares on BSE. There are no sellers for Ruchi Infrastructure at this
moment.

FII limit hike for Bajaj Hindusthan


Bajaj Hindusthan marched up 5.15% to Rs 218.6, after achieving an intra-day high of Rs 221.45 in initial trades on BSE.
 
This happens to be the new high for this counter. 2.79 lakh shares changed hands in the counter by now.
The stock witnessed solid spurt from the close of Rs 123.45 on 21 June 2005, to close at a high of Rs 213.35 on 4 August 2005. The sentiment of the stock along with the overall sugar sector improved on the back of firm sugar prices.
Today’s uptrend on the counter came on the back of fresh buying after RBI allowed FII buying in Bajaj Hindusthan, as it has hiked limit to 49% from the earlier 24%.
Earlier, Bajaj Hindusthan posted 285% surge in Q3 ended 30 June 2005 net profit to Rs 52.96 crore (Rs 13.75 crore). Net sales during the same period flared up by 240% to Rs 358.65 crore (Rs 105.5 crore).
Bajaj Hindustan has announced further expansion of its sugar manufacturing capacity from 53,000 tonnes crushed per day (TCD) (including three projects, i.e. 21,000 TCD under implementation) to 95,000 TCD by setting up three new greenfield plants with aggregate cane crushing capacity of 27,000 TCD and expansion at existing plants aggregating 15,000 TCD. The project cost is pegged at around Rs 750 crore. Production capacities of alcohol will also rise from the current 160 kilolitres per day to 320 kilolitres per day during the same period.
Bajaj Hindusthan is the largest sugar producing company in India. By the year 2006, and after recent expansions, the company hopes to be among the top six sugar producers worldwide, which will help it to achieve economies of scale and globally competitive costs in operations.

Torrent Pharma in demand


Torrent Pharma climbed 3.3% to Rs 560 after the company announced the signing of an agreement with Novo Nordisk, Denmark to establish a new, dedicated formulation and packaging facility for insulin, exclusively for the latter.
 
4,698 shares were traded in the counter on BSE.
Improved Q1 June 2005 results and acquisition of a generics pharma firm in Germany propelled the Torrent Pharma stock higher over the past three months. From Rs 430.40 on 29 April 2005, the stock managed to reach a high of Rs 542.05 by 5 August 2005.
The new insulin facility dedicated to Novo Nordisk is designed to meet the expected increased demand for insulin, in view of the burgeoning diabetes population of India, Torrent said.
Earlier, in June 2005, Torrent Pharma GmbH (TPG), a wholly owned subsidiary of the company in Germany, took over Heumann Pharma GmbH & Co Generika KG (Heumann), which is engaged in the marketing and distribution of generic pharmaceutical products in Germany. Heumann had sales of euro 50 million in the financial year ended 30 November 2004.
For Q1 June 2005, Torrent turned out 44% growth in Q1 June 2005 net profit to Rs 33.35 crore (Rs 23.12 crore). Net sales spiraled up 51.9% to Rs 187.99 crore (Rs 123.71 crore).

Bharti Tele-Ventures moves higher


Bharti Tele-Ventures (BTL) moved higher by 1.2% to Rs 296.40 boosted by media reports that it is likely to sign a contract to outsource its call centre operations for both pre-paid and post-paid mobile services.
 
The stock rose on high volume of 21.7 lakh shares.
The scrip gained 3.1% on Friday (5 August 2005) to a lifetime closing high of Rs 292.85.
Bharti Tele-Ventures (BTL) stock surged in the past few days in a firm market. Rising subscription and strong Q1 June 2005 results provided support to the counter. From a recent low of Rs 249.80 on 20 July 2005, the stock jumped 17.2% in a short while to Rs 292.85 by 5 August 2005.
BTL is likely to offer a contract worth Rs 900 crore to Rs 1,100 crore for outsourcing its call centre operations for both pre-paid and post-paid mobile services. Outsourcing is aimed at curtailing costs. BTL had earlier outsourced network management to Ericsson for managing and maintaining GSM network in two different deals.
BTL’s consolidated net profit as per Indian GAAP has jumped 96.8% to Rs 470.47 crore from Rs 239.04 crore in Q1 June 2004. Consolidated total income rose 45.8% to Rs 2527.39 crore from Rs 1733.15 crore.

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