Monday, October 17, 2005

Tamil Nadu Newsprint & Papers leaped up 5.2% to Rs 89.65 following an impressive rise in Q2 September 2005 net profit


The stock had risen 1.7% on Monday (17 October 2005) to Rs 85.20 on the eve
of the results announcement. The results hit the market after trading hours
on 17 October 2005.

Tamil Nadu Newsprint & Papers (TNPL)’s net profit jumped 98.3% to Rs 18.15
crore (Rs 9.15 crore). Net sales have risen 12.7% to Rs 203.09 crore from Rs
180.06 crore. The company has declared an interim dividend of 15% along with
Q2 results.

TNPL has attributed the increase in net profit to higher production - 57,179
tonnes (54,396 tonnes) during the quarter and higher sales realisations

TNPL has launched its Rs 565-crore mill development plan to expand its
pulping capacity and shift to a more environment friendly Elemental Chlorine
Free pulp production. The project, targeted for completion by March 2007,
will increase its pulp production capacity to 800 tonnes a day from 520
tonnes.

TNPL has also launched a Rs 30-crore expansion programme at its wind farm,
and placed orders with Suzlon Energy to add 6.25 MW to take its wind power
generation capacity to 28 MW by January 2006. The company treats the wind
farm as a profit centre, with the entire generation fed to the state grid.

Hexaware hardens on upward revision in net profit guidance


Hexaware Technologies jumped 4.3% to Rs 113 after the company raised full
year net profit guidance.

46,010 shares changed hands in the counter on BSE by the first few minutes
of trade. The stock witnessed a bout of volatility in the past few days when
a host of small-cap and mid-cap stocks turned volatile. The scrip moved
between a low of Rs 99 to a high of Rs 116 since 20 September 2005.

Hexware has reported 45% growth in Q3 September 2005 net profit at Rs 24.06
crore (Rs 16.55 crore). Net sales has risen 20% to Rs 175.56 crore (Rs
146.19 crore).

Hexaware Technologies said it has raised its full-year net profit guidance
to $ 19.5 million from $18-19 million forecast previously.

It may be recalled that in mid-July 2005, Hexaware had cut its full year net
profit guidance to $18-19 million compared to the earlier guidance of $ 25.2
million for the year. The downward revision was due to unexpected delays in
project ramp-ups and sluggish revenue growth from new clients.

Small- and mid-cap stocks lose ground


The market ended flat after a volatile trading session. The volatility was
caused to a large extent by volatility in Sensex constituents. While select
Sensex stocks edged higher, select others slipped.

The 30-share BSE Sensex ended flat 8,202.62. The Sensex moved 123.03 points
for the day between a low of 8,131.77 and a high of 8,254.80.

Bajaj Auto spurted on the back of robust Q2 results whereas Cipla got a
boost after the company said it is making a generic version of Roche’s
Tamiflu – an anti-influenza drug.

Two PSU banks State Bank of India and Punjab National Bank edged higher
boosted by strong Q2 results from private sector HDFC Bank. HDFC Bank ended
slightly in the negative.

Cement majors ACC and Gujarat Ambuja Cements recovered after Friday (14
Octobe 2005)’s sharp fall caused by ACC’s disappointing Q2 results. Index
heavyweight Reliance Industries (RIL) edged higher following reports in a
section of the media that BP Plc was interested in buying a stake in its
natural gas field in the Bay of Bengal.

Dabur India spurted after the company said its board will consider a
proposal for the issue of bonus shares.

A host of small-cap and mid-cap stocks lost ground with a host of stocks
plunging over 5% or more for the day. Market breadth was quite weak. Losers
outpaced gainers by a ratio of 3.3:1.

Stocks like Ginni Filaments, D S Kulkarni Developers, SRF, Bombay Dyeing,
Tata Metaliks, Deepak Nitrite, Elnet Technologies, SIC Agencies Corporation,
NDTV, NOCIL, Punjab Alkalies, Sintex Industries, Abhishek Industries, Timex
Watches, Sterling Biotech, Sai Services, Orchid Chemicals, Hindustan Organic
Chemicals, Shree Rama Multi-Tech, Cubex Tubings, Taj GVK Hotels, Prime
Securities, Bajaj Auto Finance, Bhartiya International, DCM Shriram
Consolidated, SR Industries, Jai Corp, Jay Bharat Maruti, EL Forge, Shetron,
Orissa Sponge, Standard Industries, and SWIL lost between 5% to 12% for the
day.

A host of other side counters lost ground. These losers included Finolex
Cables, Mukand, IndusInd Bank, Bayer Cropscience, Excel Industries, Tata
Sponge Iron, Zuari Industries, Hindustan Construction, Escorts, Mastek,
VSNL, Alok Industries, India Glycols, JCT, ICI (India), Essar Oil, Amtek
Auto, Aban Loyd, Swaraj Engines, Ciba Specialty Chemicals, Atlas Copco, Tata
Coffee, Hotel Leelaventure, Zicom Electronic, Archies Greetings, Ramco
Systems, Gail India, Wockhardt, Surya Roshni, Bombay Burmah, Corporation
Bank, Elgi Equipment, TVS Srichakra, UTI Bank, Allahabad Bank, Finolex
Industries, HMT, Essel Packing, Infomedia India, Madras Cement, Praj
Industries, and Neyveli Lignite.

Select side counter rose with some like TRF, Gateway Distriparks, and
Liberty Shoes surging on the back of strong Q2 results.

IPCL and Reliance Capital surged.

Bajaj Auto jumped nearly 7% to Rs 1,808 on the back of robust Q2 results.
Bajaj Auto has reported a net profit of Rs 289.36 crore – a growth of 61%
compared to a net profit of Rs 179.45 crore for Q2 September 2004. Total
income (net of excise) has risen 30.3% to Rs 2003.15 crore from Rs 1536.52
crore. The core operating profit margin has inched ahead to 16.9% from 16.5%
in Q2 September 2004.

Cipla jumped 5.7% to Rs 388.95. Cipla got a boost after the company said it
is making a generic version of Roche’s Tamiflu – an anti-influenza drug.
Tamiflu is an anti-viral drug used to treat bird flu, and Cipla’s
announcement comes as governments across various countries move to stockpile
the drug, fearing an epidemic. Roche is under pressure to step up supplies
of Tamiflu, as fears of a shortage of the drug are fanning across countries.

Dabur India jumped 7.4% to Rs 176.15 on high volume of 10.5 lakh shares
after the company said its board will meet on 24 October 2005 to consider a
proposal for issue of bonus shares.

source:capitalmarket

Bonus proposal boosts Dabur India


Dabur India spurted 8% to Rs 177 after the company said it will consider a
bonus issue.

The stock rose on high volume of 9.5 lakh shares on BSE.

The stock witnessed a rally over the past six months or so. From a low of Rs
109.50 on 29 March 2005, the stock surged to Rs 163.90 by 14 October 2005.

Dabur India’s board will meet on 24 October 2005 to consider a proposal for
bonus issue. The book value per share is Rs 11.80 on the face value of rupee
one.

Dabur India reported a 62% growth in Q1 June 2005 consolidated net profit to
Rs 34.87 crore (Rs 21.53 crore). Sales rose 20% to Rs 414.70 crore (Rs
344.38 crore).

A few months back, Dabur India acquired the Balsara Group’s stake in three
Balsara Group companies for an all cash deal valued at Rs 143 crore. Dabur
now has a bouquet of new products --- Balsara's oral care and household care
products, including Promise, Babool, Sanifresh and Odonil.

Market does not keep pace with higher levels


The market failed to sustain the higher levels, and the Sensex slipped into
the red early afternoon . HDFC Bank initially declined after its Q2 results
hit the market. But the stock shortly recovered from the lower level. Bajaj
Auto held firm on the back of robust Q2 results.

Index heavyweight Reliance Industries (RIL) pared gains. Infosys flopped
into the negative. State Bank of India recovered from the lower level.
Copper and aluminium major Hindalco Industries came under selling pressure
and so did NTPC. Ranbaxy moved lower as well.

Shares of Bombay Dyeing, SRF, CCL Products, and Shree Cement plunged. Tata
Metaliks plummeted after the company reported dismal Q2 results.

Select side counters edged higher with some stocks getting a boost from
robust Q2 results. Turnkey construction firm Nagarjuna Construction spurted
in early afternoon trade. Another turnkey construction firm IVRCL
Infrastructures bounced back from the lower level.

Market breadth was quite weak. 1,993 stocks declined on BSE as compared to
393 stocks that rose. 29 scrips were unchanged. Losers outpaced gainers by a
ratio of 5:1.

At 13:28 IST, the Sensex was down 34 points at 8,167. The market was
volatile today as the Sensex moved between positive and negative territory.

Hindalco plunged 3% to Rs 128.30. 5.8 lakh shares changed hands in the
counter on BSE. The stock has come sharply off the higher level in the past
few days.

Dr Reddy’s Laboratories lost 3% to Rs 877. 27,617 shares changed hands in
the counter on BSE.

Ranbaxy dipped 1% to Rs 438. The scrip came sharply off the day’s high of Rs
451. 4.1 lakh shares changed hands in the counter on BSE. The stock
witnessed a sell-off in the past two trading sessions on Thursday (13
October 2005) and Friday (14 October 2005) after the UK High Court dismissed
Ranbaxy’s legal challenge to the main patent protecting Pfizer’s Lipitor.

NTPC eased down 2% to Rs 100.50. 3.4 lakh shares changed hands in the
counter on BSE.

HDFC Bank skidded 1.1% to Rs 651 in volatile trades after the company's Q2
results hit the market. HDFC Bank’s net profit rose 31% in Q2 September 2005
to Rs 199.60 crore (Rs 152 crore). Other income more than doubled to Rs 260
crore from Rs 123 crore. The results hit the market just a few minutes back.

ICICI Bank edged down 1.6% to Rs 499. 3.2 lakh shares changed hands in the
counter on BSE.

ONGC inched lower 0.5% to Rs 987 hit by reports in a section of the media
that the government plans to take over ONGC Videsh – ONGC’s 100% subsidiary
and convert it into a national exploration and production flagship for
overseas investments

RIL nudged up 0.3% to Rs 766. The stock came off the day’s high of Rs
775.40. 18.3 lakh shares changed hands in the counter on BSE.

Infosys dipped 0.3% to Rs 2,592.

Gateway Distriparks firmed up on the back of strong Q2 results


The stock gained nearly 3% to Rs 216.90. 3.3 lakh shares changed hands in
the counter on BSE.

The stock had lost 1.4% on Friday (14 October 2005) to Rs 210.70 in a weak
market despite the strong Q2 results which hit the market during trading
hours on that day.

On a sequential quarter on quarter basis, Gateway Distriparks (GDL) has
reported a 19.7% growth in net profit to Rs 20.52 crore for Q2 September
2005 compared to Rs 17.14 crore in Q1 June 2005. Net sales have risen 3.9%
to Rs 35.14 crore from Rs 33.82 crore in Q1 June 2005.

Gateway Distriparks (GDL) operates container freight stations (CFSs) and has
offices in strategic locations like Navi Mumbai, Chennai and Visakhapatnam
apart from Garhi Harsaru near Delhi. The government's thrust on development
of port infrastructure and roadways will lead to growth in containerised
traffic, which bodes well for the company.

Last month, GDL signed an agreement with Container Coproration of India
(Concor) to work jointly towards business development for mutual benefit.

TRF jumped 5% to Rs 165.15 - the maximum permissible level of the day - on the back of a surge in Q2 September 2005 net profit


The stock lost nearly 5% on Friday (14 October 2005) to Rs 157.30 on the eve
of the results announcement in a weak market.

TRF has registered a net profit of Rs 3.02 crore for Q2 September 2005 as
compared to a net profit of Rs 0.37 crore for Q2 September 2004. Net sales
have risen 25.3% to Rs 56.72 crore from Rs 45.24 crore.

TRF, formerly known as Tata-Robins-Fraser, serves core industries such as
power, mining, coal, fertiliser, cement, and ports. The company has
specialised in the manufacture of advanced systems for conveying, stacking,
blending, reclaiming and processing of bulk raw materials.

With world class technical associates, TRF has also made its mark in the
field of coke oven equipment (specially stamping-charging-pushing
equipment), and coal dust injection systems for blast furnaces.

Cipla rose 1.8% to Rs 374.50 after the company said it is making a generic version of Roche's Tamiflu - an anti-influenza drug


1.2 lakh shares changed hands in the counter on BSE by mid-morning trade.

Cipla had seen a solid surge during late September 2005 to early October
2005, but the rally fizzled out later in a weak market. From a low of Rs
347.15 on 23 September 2005, the stock spurted 12.5% to a lifetime closing
high of Rs 390.55 on 3 October 2005. It then slipped to Rs 367.85 by 14
October 2005 ahead of the company's announcement.

Tamiflu is an anti-viral drug used to treat bird-flu, and Cipla’s
announcement comes as various governments across the globe stockpile the
drug fearing an epidemic. Roche is under pressure to step up supplies of
Tamiflu, as fears of a shortage of the drug are fanning across countries.

Cipla will not target US or European markets being served by Tamiflu but it
will offer supplies to any government that wants to buy the drug. Cipla is
initially aiming to produce enough generic Tamiflu to treat 50,000 patients
by the end of January 2006.

The last time round Cipla stirred up global markets was in 2001, when it
offered its anti-AIDS drug for African patients.

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