Tuesday, September 27, 2005

Cranes Software jumped nearly 5% to Rs 962.20 after shareholders approved a preferential issue of shares to promoters and a strategic investor


1,616 shares changed hands in the counter on BSE by the first few minutes of
trade.

The stock gained nearly 2% on Tuesday (27 September 2005) to Rs 916.80.
Earlier, the stock had come sharply off the higher level since early
September 2005. From a high of Rs 1,085.25 on 1 September 2005, the stock
had plunged to a recent low of Rs 899.65 on 26 September 2005.

Earlier, the stock had seen a solid surge during late June 2005 to early
September 2005.

Shareholders of Cranes Software have approved issue of up to 8 lakh equity
shares on a preferential basis to promoters at a price not less than Rs 900
per share. Shareholders have also approved issue of 4 lakh shares to a
strategic investor viz. Spice One Colonizers Pvt. Ltd at a price not less
than Rs 900 per share.

Following the preferential issue, the promoters' holding will increase from
34.6% to 38.0%. Funds from this issuance will be used to exploit further
growth opportunities from business and IPR acquisitions, joint ventures,
strategic alliances, global marketing alliances and to augment the working
capital requirements of the rapidly expanding global business operations, a
company release said.

Shareholders have also approved a liberal 1:1 bonus and a 5-for-1 stock
split.

Sensex ends above 8,500 mark after 140-point oscillation


The Sensex has ended a very choppy session to end the day at 8515 points
(provisional) with a gain of 36 points from its previous close. The NSE
Nifty also gained 13 points to close at 2571 points (provisional) from its
previous close.

The BSE Midcap index gained 0.77% while the BSE Small Cap index added 0.62%.

The BSE Bankex was up 1.03% while the BSE PSU index was up 0.73% among the
other indices.

The total turnover for the day amounted to Rs 3924 crore.

The advance-decline ratio ended negative, at which time it was strong at
3:1. 1,163 shares closed the day higher and 1,422 lower. About 35 shares
remained unchanged by now.

Among Sensex stocks, 14 shares closed with gains while 16 stocks closed the
day with losses.

Tata Motors was the biggest gainer in the Sensex, with a gain of 4.2% to Rs
542.5.

HLL followed with a gain of 2.4% to Rs 180.35.

ONGC added 1.85% to Rs 1,039.

Maruti Udyog was the biggest loser, down 2.27% to Rs 560.

Reliance Industries topped the turnover charts, at Rs 250.78 crore, followed
by Bharti Televentures with Rs 172.08 crore, and Reliance Capital with Rs
139.21 crore.

Side counters like FCS Software up 20%, Citurgua Biotech up 19.86, HMT up
17.20, Terasoft up 12.72%, LG Balkrishnan up 13.01%, VXL Instruments up
10.80%, while Zodiac Clothing, Alchemist, Bilcare, Clutch Auto, ITI, Gammon
India, Ennore Foundaries, Jetking Infotrain and Morgan Ventures among others
all surged 10% each.

Among the notable block deals for the day, UTI Bank saw a block deal of 1.70
lakh shares at Rs 276 per share, Sterling Biotech with 2.41 lakh shares at
Rs 164.80, MICO with 10,000 shares at Rs 2300 per share, IFSL with 5.14 lakh
shares at Rs 27.25, Bharti Televenutres with 10.02 lakh shares at Rs 351 per
share and Ansal Propoerties of 1 lakh at Rs 210 per share.

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Stock split proposal sends Hindustan Construction surging


Hindustan Construction Company (HCC) soared up 8.9% to Rs 952, following the
company's announcement that its board would be meeting on 29 September 2005
to decide on the stock split proposal. The stock had staged a solid rebound
in the past two trading sessions ahead of the announcement of the stock
split proposal, boosted by the company's bagging a huge order worth over Rs
1,000 crore. From a recent low of Rs 790.75 on 22 September 2005, the stock
had gained 10.5% in just two trading sessions to Rs 874 on 26 September
2005.

Just before the two-day surge, the stock had plunged 9.5% in the two trading
sessions to Rs 790.75 on 22 September 2005 from Rs 874.35 on 20 September
2005 in a weak market.

Earlier, the stock witnessed a solid surge during late June 2005 to late
August 2005. From a low of Rs 524.95 on 29 June 2005, the stock had surged
to Rs 869.55 by 23 August 2005. It had turned volatile during late August to
mid-September 2005.

HCC has a strong order backlog of Rs 5,300 crore which is 3.6 times its FY
2005 revenue. Currently, hydel and thermal power, transportation, and
pipelines account for the maximum share of order-book mix.

HCC concentrates on high value sub-sectors in the construction segment like
power, roads, ports, and urban infrastructure. To diversify its risk from
one market, HCC is focusing on projects in the Middle East and Africa. HCC
recently won an order worth Rs 150 crore bn in Saudi Arabia for the
restoration of a pier, which marked its entry into the Gulf region. The
recent spurt in construction activity in the Gulf has increased the
attractiveness of the region for new entrants.

Meanwhile, HCC is foraying into real estate development through its 50%
subsidiary, Lavasa Corporation (LCL). The latter is setting up a 10,000 acre
new township near Pune.

Sensex proves flat amid volatility


The Sensex was trading 7 points higher at 8486 at 14:06 hours. Earlier, the
Sensex hit a new all time high of 8585.76 points while the low for the day
was 8444.98 points.

The Sensex has witnessed a swing of 120 points so far in high degree of
volatility.

The BSE Midcap index was up 0.65% while the BSE Small Cap index was up
0.50%.

The BSE Bankex was up 1% while the BSE PSU index was up 0.16% among other
indices.

The total turnover by this point of time amounted to Rs 2800 crore.

The advance-decline ratio turned negative with 1210 shares moving higher and
1343 shares lower. About 36 shares remained unchanged by now.

Among the Sensex stocks, 15 shares were in the green while 15 stocks were in
the red.

Tata Motors added the maximum, with gain of 4.26% to Rs 543.

ONGC followed with a gain of 1.95% to Rs 1040.

HDFC added 1.36% to Rs 1002.50

BHEL was the biggest loser, down 2.7% to Rs 1114.

NTPC was down 1.4% to Rs 105.25.

Reliance Industries topped the turnover charts with Rs 175.13 crore followed
by Bharti Televentures with Rs 153.70 crore and Reliance Capital followed
with Rs 96.72 crore.

United Phosphorous was trading at Rs 214 after emerged ex-stock split. The
stock split involves a sub-division of Rs 10 share to Rs 2.

NIIT Technologies put on 2.2% to Rs 180.75 after it announced that the
company has tied up with Powerise IT, a leading Beijing headquartered
software company to jointly address the emerging software market.

Tera Software zoomed up 10% to Rs 76.15 after the company informed BSE that
the company has received the prestigious e-governance work order for "Sales
Tax Department Automation Outsourcing Project" from the Commissioner of
Sales tax of the State Government of Maharashtra in consortium with M/s ECIL
(A Government of India Undertaking). The estimated value of the order is Rs
150 crore

Transformers maker EMCO advanced 2.5% to Rs 423 on reports that the company
has got an order worth Rs 100 crore.

Notable block deals took place in UTI Bank, of 1.70 lakh shares at Rs 276
per share; Sterling Biotech, 2.41 lakh shares at Rs 164.80 per share; MICO,
10,000 shares at Rs 2300 per share; IFSL, 5.14 lakh shares at Rs 27.25 per
share; Bharti Televenutres, 10.02 lakh shares at Rs 351 per share; and Ansal
Propoerties, 1 lakh shares at Rs 210 per share.

Sensex flops from higher level


The Sensex slumped after hitting a new all time high of 8585.76 following
intense selling momentum in the latest half-hour of trading. At 13:06 hours,
the BSE Sensex was at 8511 points, with a gain of 32 points from its
previous close.

The Sensex has oscillated in a range of 140 points so far from the high and
low of the day.

The BSE Midcap index was up 0.85% while the BSE Small Cap index was up
0.98%.

The BSE Bankex was up 1% while the BSE PSU index was up 0.63% among other
indices.

The total turnover by this point of time amounted to Rs 2363 crore.

The advance-decline ratio was positive, close to 1.5:1, with 1,398 shares
moving higher and 1,124 shares lower. About 46 shares remained unchanged by
now.

Among the Sensex stocks, 17 shares were in the green while only 13 stocks
were in the red.

Tata Motors proved the biggest gainer so far, rising a solid 3% to Rs 536.

ONGC followed with a gain of 1.95% to Rs 1,040.

HDFC added 1.2% to Rs 1001.30

NTPC turned out the biggest loser, as it declined 1.5% to Rs 105.20.

Bharti Televentures displaced Reliance Industries to top the turnover charts
with Rs 151.09 crore, while the latter clocked a turnover of Rs 149.05 crore
and Reliance Capital followed with Rs 78.86 crore.

VSNL was up 1% to Rs 362.40 after its ADR gained 8.5% overnight.

Dolphin Offshore Enterprises added 2.85% to Rs 358, after the company's
plans to raise Rs 150 crore through stake sale.

Havells India jumped 5% to Rs 341.85 after reports that the company is in
talks to acquire a Chinese company for Rs 50-100 crore.

Hindustan Construction jumped 8% to Rs 945 ahead of its board meet on
September 29 to consider stock split.

Pfizer was firm by 1.6% to Rs 808.55 after the company reported robust Q3
August 2005 results on Monday. Net profit jumped 53.99% to Rs 21.82 crore
(Rs 14.17 crore). Net sales rose 18.2% to Rs 173.73 crore (Rs 146.93 crore).

Ginni Filaments added 2.2% to Rs 44.20 after the company said its board has
approved the Draft Red Herring Prospectus for issue of equity shares at a
premium, to be decided through book building process for an aggregate amount
of Rs 60 crore.

Binani Industries mounted up 5% to Rs 70 after the company informed BSE that
it has entered into a sale and purchase agreement with Silver Peak
Investments (Mauritius) pursuant to which the company has agreed to sell 25%
of its equity shareholding in Binani Cement , subject to certain conditions
to closing.

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