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Cement scrips hardened in afternoon trade boosted by reports that cement makers have hiked prices in Mumbai - the key market

2005-11-02T02:04:00.000-08:00

Grasim, which surged 3.3% to Rs 1,163, was the top gainer among cement
pivotals. ACC rose 2.5% to Rs 463.15, Gujarat Ambuja Cements (GACL) rose
2.4% to Rs 71.55 and UltraTech Cement gained 1% to Rs 415.

GACL rose on high volume of 10.9 lakh shares. 1.3 lakh shares changed hands
in ACC, 15,645 shares got traded in Grasim and 14,640 shares changed hands
in UltraTech Cement.

Cement shares had remained relatively firm in the past one month or so when
the market underwent a major correction with the Sensex tumbling over 1000
points. This was because cement makers had raised prices by about Rs 5 per
bag at the beginning of October 2005 to take advantage of a seasonal pick-up
in demand after the June-September monsoon season.

Following the latest price hike, the retail cement prices would rise to Rs
180 per 50-kg bag in Mumbai while those for institutional and bulk buyers
would be about Rs 165 per bag.

ACC, Gujarat Ambuja Cements, UltraTech Cement and Grasim Industries are the
major cement suppliers in Mumbai.

Analysts expect cement prices to remain firm over the next couple of years
or so as no major capacity expansion is expected to go on stream during that
period thereby restricting supply pressure.

3i Infotech jumped 4% to Rs 122 after the company said it had acquired US based software company FormulaWare

2005-11-02T01:52:00.000-08:00

1.6 lakh shares changed hands in the counter on BSE by afternoon trade.

FormulaWare specialises in software aimed at the chemical and paint
industries. 3i Infotech did not indicate the cost of the acquisition, but
said it planned to expand its offerings to the lubcricants, paint, inks and
glues industries.

This is the second US acquisition announced by 3i Infotech in less than two
months. In late September 2005, 3i Infotech acquired Innovative Business
Solutions - a US based specialty IT solutions company - for $ 3.6 million.

Over the years, 3i Infotech (earlier ICICI Infotech) has transformed itself
from the back office of ICICI Bank to a software products-cum-services
company focused on the banking, financial services and insurance field.

Sensex moves past 8,000; L&T spurts

2005-11-02T01:33:00.000-08:00

The market firmed up further in mid-afternoon trade with the Sensex moving
past the psychological 8,000 barrier. Firmness in most emerging markets in
Asia and the US supported domestic bourses after a small 25 basis points US
interest rate rise that pleased investors by allaying fears of bigger hikes
in future. The US Federal Reserve did not signal more aggressive hikes in
future, which could lure capital away from high-yielding but relatively
riskier emerging markets.

Steel shares bounced back from the lower levels after sliding in early trade
on reports that they had cut hot rolled coil prices by Rs 500 per tonne.
Select construction stocks surged in mid-afternoon trade.

PSU telecom services firm MTNL spurted. ITC edged higher for the third day
in a row. Software shares recovered from the lower level. Cement scrips held
firm on the back a latest price hike.

PSU banks recovered from the lower level.

Though market breadth was weak, it improved by mid-afternoon trade. 1,169
stocks declined on BSE as compared to 1,070 stocks that rose. 48 scrips were
unchanged. Losers outpaced gainers by a ratio of 1.09:1. This ratio was
about 1.4:1 in afternoon trade.

At 14:30 IST, the Sensex was up 79 points at 8,023. The Sensex hit a high of
8,033.80.

The Sensex bounced back from the days low of 7,891.23.

MTNL jumped 6% to Rs 119.25. 5.1 lakh shares changed hands in the counter on
BSE. As per reports in a section of the media, the Department of
Telecommunications (DoT) is exploring the option of a quasi merger of BSNL
and MTNL. The plan involves forming four regional wireline companies, a
mobile operator and an infrastructure company from BSNL. The four regional
wireline companies would be BSNL North, BSNL East, BSNL South and BSNL West.
Under the plan, MTNLs wireline operations in Delhi would merged with BSNL
North and the Mumbai operations will be merged with BSNL West. The mobile
operations of BSNL, along with that of MTNL, would be transferred to a
separate company, BSNL Mobile thus giving the public sector units a
pan-India mobile footprint, reports suggest

Engineering and construction major L&T jumped 5.4% to Rs 1,496. 1.4 lakh
shares changed hands in the counter on BSE.

Cement shares were in demand. Grasim gained 3.5% to Rs 1,165, Gujarat Ambuja
Cements gained 2.7% to Rs 71.75 and ACC advanced 2.5% to Rs 463.50. As per
reports, cement firms have raised prices by Rs 5 per 50 kg bag in the key
Mumbai market. Following the latest price hike, retail cement prices would
rise to Rs 180 per 50-kg bag in Mumbai while those for institutional and
bulk buyers would be about Rs 165 per bag.

Housing finance major HDFC gained 3.5% to Rs 1,003. The stock recovered on
renewed buying interest after a steep recent fall in the counter.

Dr Reddys Lab gained nearly 3% to Rs 847. Dr Reddys Lab reported a
better-than-expected 72% growth in Q2 September 2005 net profit as per US
GAAP to Rs 89 crore (Rs 51.70 crore). Revenue rose 7% to Rs 580 crore.

Steel major Tisco rose 1.4% to Rs 345. The stock bounced back from the days
low of Rs 331.20. 9.4 lakh shares changed hands in the counter on BSE.

Index heavyweight Reliance Industries (RIL) advanced 0.8% to Rs 772.95. 12.3
lakh shares changed hands in the counter on BSE.

Hindustan Zinc surged 3.4% to Rs 225 on reports in a section of the media
that it has effected a steep hike in zinc prices

source:capitalmarket

Market remains subdued; HDFC surges

2005-11-01T23:21:00.000-08:00

The market remained subdued in morning trade. Market breadth remained weak.

Steel scrips slipped on reports that steel makers have cut hot-rolled coil
prices by Rs 500 per tonne with effect from 1 November 2005. Profit taking
pulled down IT stocks and PSU banks.

Index heavyweight Reliance Industries was subdued. Two-wheeler makers Bajaj
Auto and Hero Honda edged higher on the back of strong sales in the month
just gone by even as car major Maruti Udyog (MUL) slipped ahead of the
announcement of October car sales.

Cement pivotals were steady to firm. Housing finance major HDFC was in
demand.

1,239 stocks declined on BSE as compared to 504 stocks that rose. 30 scrips
were unchanged. Losers outpaced gainers by a ratio of 2.4:1.

At 11:23 IST, the Sensex was down 16 points at 7,927. The Sensex moved 69.57
points between a low of 7,891.23 and a high of 7,960.80.

MUL lost 2.3% to Rs 538.30. 56,341 shares changed hands in the counter on
BSE.

Hero Honda rose 1.8% to Rs 719, and Bajaj Auto gained 1.2% to Rs 1,741. Hero
Honda reported a 23% hike in bike sales in October 2005 to 3.01 lakh units.
Exports rose 14% to 6,357 units. On a month on month basis, sales rose 13%
from 2.66 lakh units in September 2005.

Bajaj Auto on Tuesday said its total vehicle sales in October rose 37% to
241,808 units from 176,693 in October 2004. Motorcycle sales surged 43
percent to 205,012 units from 143,491 and sales of all two-wheelers rose 40
percent to 219,927 units from 157,631, it said. Sales of three-wheelers
climbed 15 percent to 21,881 units from 19,062 units a year earlier. The
company said exports surged 49 percent to 22,713 units from 15,262 units.

Housing finance major HDFC surged 3% to Rs 1,000, on renewed buying
interest. 22,017 shares changed hands in the counter on BSE.

Grasim rose 1.6% to Rs 1,144 and Gujarat Ambuja Cements gained 0.79% to Rs
70.40. But ACC lost 0.6% to Rs 449.05 and India Cements shed 4% to Rs 86.30.

Tisco lost 2% to Rs 332.75 and Sail shed 1.7% to Rs 51.10. JSW Steel shed
2.5% to Rs 207 and Ispat Industries shed 4.4% to Rs 13.40. Steel companies
have cut HR coil prices due to easing global prices and larger domestic
inventories, reports suggest. The average price of HR coils, the primary
steel used for making various grades of steel, would be about Rs 21,000 ($
465) per tonne following the latest price cut.

Software shares edged lower on weakness in US tech stocks. Wipro lost 1.1%
to Rs 360, TCS shed 1.2% to Rs 1,391, Infosys shed 1% to Rs 2,509 and Satyam
Computer shed 0.8% to Rs 607. US stocks fell on Tuesday, dragged lower by
technology shares after a disappointing outlook from Dell Inc. The
technology-laced Nasdaq Composite Index shed 6.25 points, or 0.29 percent,
at 2,114.05.

State Bank of India shed 1.8% to Rs 823. 2.7 lakh shares changed hands in
the counter on BSE.

National Aluminium Company jumped nearly 4% to Rs 168.60 on reports that the company has hiked aluminium prices by Rs 3,000 per tonne

2005-11-01T22:57:00.000-08:00

The National Aluminium Company (Nalco) scrip had staged a rebound from the
lower level in the past two days ahead of the announcement. From a low of Rs
153.45 on 28 October 2005, the stock gained 5.7% in two trading sessions to
Rs 162.25 on 1 November 2005.

The latest price hike by Nalco is on the back of firm LME aluminium prices.
Domestic aluminium prices track LME prices. In the past one month or so,
LME's aluminium prices edged up to $ 1,980.50 per tonne from $ 1,857 per
tonne at end September 2005.

In the past six months, aluminium prices on the LME have gone up 10% from $
1,795 per tonne at the beginning of May 2005 to the current $ 1,980.50 per
tonne.

Hero Honda firms up after reporting strong monthly sales growth

2005-11-01T22:28:00.000-08:00

The stock declined from the peak of Rs 762.75 on 04 October 2005 to close at
Rs 687.75 on 19 October 2005 on profit taking.

Hero Honda edged higher today after it reported a 23% rise in bike sales for
the month of October 2005 to 3.01 lakh units. Exports rose 14% to 6,357
units. On a month on month basis, sales rose 13% from 2.66 lakh units in
September 2005.

Hero Honda has recorded a 22% rise in motorcycles sales for the month of
September 2005 to 266,071 units (217,507 motorcycles sold in September
2004).

Hero Honda's net profit spiraled up 23% in Q2 ended September 2005 to Rs 238
crore (Rs 194 crore). Total turnover (net of excise) rose 22.8% to Rs
2,209.36 crore from Rs 1,798.23 crore, on the back of strong volume growth.

Hero Honda's strong performance came on the back of strong rural sales and a
good response to its newly launched 125cc motorcycle, Glamour.

Munjal Group two-wheeler and mopeds manufacturing company, Hero Honda's
latest paid-up equity share capital stands at Rs 39.94 crore of which FIIs
hold 27.07% while promoters control 54.95% stake (as of 30 September 2005).

Bajaj Auto rose for the second day in a row on the back of robust sales in the month just gone by

2005-11-01T22:04:00.000-08:00

The stock gained 1.1% to Rs 1,740 by early trade. 6,721 shares changed hands
in the counter on BSE.

On a month on month basis, Bajaj Autos bike sales rose 13.8% from 1.8 lakh
units in September 2005. Total two-wheeler sales rose 12.8% on a month on
month basis from 1.94 lakh units in September 2005. Three-wheeler sales
declined 5.3% on a month on month basis from 23,118 units in September 2005.
Exports declined 3.1% on a month on month basis from 23,463 units in
September 2005.

Bajaj Autos CT-100 model continues to rule the economy motorcycle segment.
Bajaj Auto is currently the market leader in the entry and premium segments
of motorcycles. However, its share in the mid-segment is low. To penetrate
the mid-segment, the company had launched Discover, which is a 125 cc bike.

Bajaj Auto 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) rose 30.3% to Rs 2,003.15 crore from Rs 1,536.52
crore. The company unveiled Q2 results on Saturday (15 October 2005). One
key highlight of the Q2 results was the increase in core operating profit
margin to 16.9% from 16.5% in Q2 September 2004.

Steel makers lost ground today on reports that they have cut prices of hot-rolled (HR) coils by Rs 500 per tonne with effect from 1 November 2005.

2005-11-01T21:48:00.000-08:00

Sail lost 2.6% to Rs 50.65, Ispat Industries shed 4% to Rs 13.44, Tisco shed
1.7% to Rs 334.45, Lloyd Steel lost 5.4% to Rs 11.85, Essar Steel shed 1.5%
to Rs 43.25, JSW Steel shed 2.5% to Rs 207 and Uttam Galva Steel lost 1.9%
to Rs 36.

4.4 lakh shares changed hands in Sail, 3.4 lakh shares got traded in Ispat
Industries, 1.6 lakh shares changed hands in Tisco, 34,845 shares got traded
in Lloyd Steel, and 26,611 shares changed hands in Essar Steel.

Steel companies, it is reported, will cut HR coil prices due to easing
global prices and larger domestic inventories, reports suggest.

The average price of HR coils, the primary steel used for making various
grades of steel, would be about Rs 21,000 ($ 465) per tonne following the
latest price cut.

Weak market breadth; Maruti Udyog slips

2005-11-01T21:25:00.001-08:00

The Sensex moved between positive and negative territory in opening trade. A
mixed trend was witnessed in various Sensex constituents.

Cement shares edged slightly higher. Bajaj Auto firmed up in early trade.
Software shares were subdued.

Car major Maruti Udyog (MUL) slipped in early trade ahead of the
announcement of its October 2005 vehicle sales.

Blue chips like State Bank of India, ITC, Reliance Industries (RIL), Infosys
and TCS slipped in early trade.

MTNL moved up in opening trade on reports in a section of the media that the
Department of Telecommunications (DoT) is exploring the option of a quasi
merger of BSNL and MTNL.

Hindalco Industries edged higher for the second day in a row.

Bajaj Auto rose slightly on the back of strong October sales even as Hero
Honda moved between positive and negative territory.

Market breadth was quite weak in early trade. 828 stocks declined on BSE as
compared to 376 stocks that rose. 21 scrips were unchanged. Losers outpaced
gainers by a ratio of 2.2:1.

At 10:19 IST, the Sensex was down 16 points at 7,927. The Sensex moved 51.82
points in early trade between a low of 7,908.98 and a high of 7,960.80.

MUL shed 2% to Rs 540. 27,369 shares changed hands in the counter on BSE.

State Bank of India (SBI) lost 1.5% to Rs 826.60. As per reports in a
section of the media, SBI has zeroed in Pt Bank Indomonex of Indonesia for a
possible acquisition. SBI has embarked upon a series of international
acquisitions to establish itself as a global player.

Software shares were subdued. TCS lost nearly 1% to Rs 1,395, Infosys shed
0.8% to Rs 2,515 and Satyam Computer shed 0.6% to Rs 608.

RIL shed 0.6% to Rs 761. 1.6 lakh shares changed hands in the counter on
BSE.

Hero Honda was down 0.1% to Rs 705. Hero Honda reported a 23% hike in bike
sales in October 2005 to 3.01 lakh units. Exports rose 14% to 6,357 units.
On a month on month basis, sales rose 13% from 2.66 lakh units in September
2005.

Bajaj Auto rose 0.8% to Rs 1,735. Bajaj Auto on Tuesday its total vehicle
sales in October rose 37% to 241,808 units from 176,693 in October 2004.
Motorcycle sales surged 43 percent to 205,012 units from 143,491 and sales
of all two-wheelers rose 40 percent to 219,927 units from 157,631, it said.
Sales of three-wheelers climbed 15 percent to 21,881 units from 19,062 a
year earlier. The company said exports surged 49 percent to 22,713 units
from 15,262 units.

MTNL gained 1.1% to Rs 113.75. As per reports in a section of the media, the
Department of Telecommunications (DoT) is exploring the option of a quasi
merger of BSNL and MTNL. The plan involves forming four regional wireline
companies, a mobile operator and an infrastructure company from BSNL. The
four regional wireline companies would be BSNL North, BSNL East, BSNL South
and BSNL West. Under the plan, MTNLs wireline operations in Delhi would
merged with BSNL North and Mumbai operations with BSNL West. The mobile
operations of BSNL, along with that of MTNL, would be transferred to a
separate company, BSNL Mobile thus giving the public sector units a
pan-India mobile footprint, reports suggest.

Assam Company surged for the third day in a row after the company said it has struck oil at Amguri in Assam.

2005-11-01T21:25:00.000-08:00

The stock was up 4.6% in early trade to Rs 21.50. 1.4 lakh shares changed
hands in the counter on BSE.

From Rs 17.94 on 27 October 2005, the scrip rose 14.5% in three trading
sessions to Rs 20.55 on 1 November 2005.

Assam Company has been carrying out exploration activities in the area in
association with its Canadian partner Canoro Resources.

Assam Companys oil & gas division is currently engaged in exploration and
production of hydrocarbons in the Assam region in a joint production sharing
agreement with Canora Resources and ONGC.

Market breadth weakens further; Cipla loses ground

2005-10-27T23:28:00.000-07:00

The market remained weak in morning trade. Cipla came under selling pressure
in the same period. Dr Reddys Laboratories slipped. Auto and IT stocks were
weak.

Cellular services major Bharti Tele-Ventures (BTL) surged on reports that
British telecoms firm Vodafone Group Plc may acquire a small stake in the
company.

State Bank of India (SBI) slipped for the second day in a row hit by
disappointing Q2 September 2005 results. A host of PSU banks edged lower.

i-flex surged following the announcement of Q2 September 2005 results.

Market breadth weakened further in morning trade. 1,537 stocks declined on
BSE as compared to 492 stocks that rose. 50 scrips were unchanged. Losers
outpaced gainers by a ratio of 3.1:1. In early trade, this ratio was at
2.1:1.

At 11:28 IST, the Sensex was down 74 points at 7,723.

Weakness in US and Asian stocks hurt market sentiment. Asian markets have
been hit by poor quarterly results and worries about regional and
export-oriented economies. US stocks dropped on Thursday for a third
straight day on a bigger-than-expected decline in durable goods orders. The
Dow Jones industrial average fell 115.03 points, or 1.11 percent, to end at
10,229.95. The Standard & Poor's 500 Index dropped 12.48 points, or 1.05
percent, to 1,178.90.

BTL jumped 5% to Rs 328.70. 5.2 lakh shares changed hands in the counter on
BSE.

Index heavyweight Reliance Industries (RIL) was up 0.2% to Rs 752.75. The
stock was volatile as it moved between positive and negative territory. 8.9
lakh shares changed hands in the counter on BSE.

Cipla plunged 4% to Rs 344.25. The stock came sharply off the days high of
Rs 362.90. 1.6 lakh shares changed hands in the counter on BSE. Cipla, on
Thursday, reported a 27.8% growth in Q2 September 2005 net profit to Rs
122.60 crore (Rs 95.87 crore). Net sales rose 15.5% to Rs 671.70 crore (Rs
581.37 crore).

Dr Reddys Laboratories lost 1.2% to Rs 793.

IT stocks tracked weakness on Nasdaq. Wipro lost 2.7% to Rs 362, TCS shed 2%
to Rs 1,377, Infosys lost 1.2% to Rs 2,436 and Satyam Computer shed 1.3% to
Rs 582. Weakness in semiconductor stocks, tied to worries about the US
economy and fourth-quarter holiday spending, helped push the
technology-laced Nasdaq lower on Thursday. The Nasdaq Composite Index slid
36.24 points, or 1.73 percent, to close at 2,063.81.

L&T slipped 2.7% to Rs 1,348 ahead of the announcement of Q2 results (the
results will be announced later today). 20,278 shares changed hands in the
counter on BSE. L&T said on Thursday that it received orders worth Rs 1,160
crore ($258 million) to build roads and airports.

Auto shares were on the lower side. Car major Maruti Udyog (MUL) (down 2.6%
to Rs 515.40), Bajaj Auto (down 2% to Rs 1,696), Tata Motors (down 2% to Rs
474.75) and Hero Honda (down 1.3% to Rs 6705.50) all eased. MUL announces Q2
results later in the day today.

State Bank of India (SBI) shed 1.3% to Rs 819.75. The stock declined on high
early volume of 8.9 lakh shares. SBI, on Thursday, reported a lower than
expected 12.3% growth in Q2 September 2005 net profit to Rs 1215.36 crore
(Rs 1081.89 crore). Total income rose 1.2% to Rs 9,856.04 crore from Rs
9,737.43 crore.

HDFC Bank shed 2% to Rs 609.45.

i-flex rose 2.7% to Rs 886. i-flexs consolidated net profit as per Indian
GAAP declined 8.1% to Rs 38.40 crore from Rs 41.80 crore in Q2 September
2004. Revenue rose 36.7% to Rs Rs 349.70 crore from Rs 255.80 crore.

source:capitalmarket

Orchid Chemicals drops on pricing GDR issue at a discount

2005-10-27T23:21:00.001-07:00

Orchid Chemicals & Pharmaceuticals lost 3.3% to Rs 203.95, extending the
sharp fall witnessed in the past two days.

The stock declined further today after the company announced that it has
priced its GDR issue at $ 4.34 each, which is equivalent to Rs 195 per
share at a discount to Thursday (27 October 2005)s closing price of Rs
211.05 on BSE.

In the past two days, the stock had plunged. From Rs 242.40 on 25 October
2005, the stock had lost 12.9% in just two trading sessions to Rs 211.05 on
27 October 2005. <> Orchid said it has raised $ 75 million (through issue of
GDRs aggregating $ 37.5 million and through the issue of convertible bonds
aggregating $ 37.5 million). In addition, there is a greenshoe of $ 5
million each on GDRs and convertible bonds. The zero-coupon convertible
bonds have a tenor of five years and are convertible into equity shares at a
premium of 25%. The GDRs and the convertible bonds will be listed on the
Luxembourg Stock Exchange.

Early this month, Orchid reported robust Q2 results. Orchids Q2 net profit
jumped 588% to Rs 27.21 crore (Rs 3.95 crore). Top line growth led bottom
line growth. Total income rose 46% to Rs 240.42 crore (Rs 164.37 crore).

TVS Motor dropped for the second day in a row after the company reported a fall in Q2 September 2005 net profit

2005-10-27T23:21:00.000-07:00

The scrip lost 4% in morning trade to Rs 84.80. 38,610 shares changed hands
in the counter on BSE.

The stock lost 5% on Thursday (27 October 2005) to Rs 88.35.

TVS has reported a 7% fall in Q2 September 2005 net profit to Rs 31.95 crore
(Rs 34.24 crore). Net sales has risen 6.2% to Rs 789.23 crore (Rs 742.87
crore).

TVS Motor reported a 27% growth in bike sales in September 2005 to 75,310
units from 59,172 units in September 2004.

Recently, TVS launched two variants of the Star City and Victor brands to
pep up sales. Victor Edge is positioned in the executive segment and comes
in the price range of Rs 40,000-43,000. Star City, positioned in the economy
segment, is priced at Rs 33,900.

The motorcycle industry in the country hinges largely on the sales from the
economy and executive segments. TVS Motor's share in these two segments is
voluminous, at 23% of the economy segment and 13% of the executive segment.

TVS Motor also plans to launch a variant of the Fierro brand in the near
future.

Balaji Telefilms firmly in the picture on strong Q2 results

2005-10-27T22:33:00.000-07:00

Balaji Telefilms rose 2.3% to Rs 125 boosted by strong Q2 September 2005
results.

175 shares changed hands in the counter on BSE by the first few minutes of
trade.

Balaji Telefilms net profit jumped 50.7% in Q2 September 2005 to Rs 17.01
crore (Rs 11.28 crore). Net sales rose 55% to Rs 70.13 crore (Rs 45.24
crore).

In the early part of the month, Balaji Telefilms stated that it had entered
into an agreement for upgrading rates, on the basis of the average
Television Rating Points (TRPs) of a few of its serials on Star Plus with
effect from July 2005.

L&T may move higher on major order win

2005-10-27T22:27:00.000-07:00

L&T may rally after the company on Thursday said it had received orders
worth Rs 1,160 crore ($258 million) to build roads and airports. The orders
include highways projects in Tamil Nadu and erecting a passenger terminal
building at the Hyderabad airport in Andhra Pradesh. Ahead of the
announcement, L&T shares closed 2.2% higher at Rs 1,385.80 on BSE.

Cipla may edge higher after the company reported a 27.8% growth in Q2
September 2005 net profit to Rs 122.60 crore (Rs 95.87 crore). Net sales
rose 15.5% to Rs 671.70 crore (Rs 581.37 crore).

Balaji Telefilms may edge higher on the back of strong Q2 results. Net
profit jumped 50.7% in Q2 September 2005 to Rs 17.01 crore (Rs 11.28 crore).
Net sales rose 55% to Rs 70.13 crore (Rs 45.24 crore).

Indraprasth Gas may edge higher after the company reported 28.7% growth in
Q2 September 2005 net profit to Rs 27.03 crore (Rs 21 crore). Net sales rose
17% to Rs 134.10 crore (Rs 114.55 crore).

Trent may edge higher after the company reported a 55.5% growth in Q2
September 2005 net profit to Rs 5.74 crore (Rs 3.69 crore). Net sales rose
60% to Rs 86.63 crore (Rs 54.10 crore).

Upper Ganges Sugar may edge higher after the company reported a net profit
of Rs 4.41 crore for Q2 September 2005 as against a net loss of Rs 6 crore
for Q2 September 2004. Net sales jumped 30.5% to Rs 90.22 crore (Rs 69.11
crore).

Tube Investments of India may see action after the company reported a 156%
growth in Q2 September 2005 net profit to Rs 31.38 crore (Rs 12.22 crore).
Net sales rose 9.99% to Rs 354.75 crore (Rs 322.51 crore).

Mangalam Cement may rally on the back of robust Q4 September 2005 results.
The company reported a net profit of Rs 3.86 crore as against a net profit
of Rs 0.45 crore for Q4 September 2004. Net sales rose 7.3% to Rs 75.88
crore (Rs 70.66 crore).

GNFC and Narmada Chematur Petrochemicals may see action after the company
said they would consider merger of Narmada Chematur Petrochemicals in GNFC.
GNFC holds 56.4% stake in Narmada Chematur Petrochemicals

Bharat Gears may see action after the company said the company will come out
with a rights issue not exceeding Rs 8 crore.

Thermax may move higher after its Energy Systems Division bagged an order
valued at about Rs 50 crore from a company in the steel industry.

Orient Paper & Industries may see action after the company said it is
investing about Rs 42 crore for expansion of the cement manufacturing
capacity from 2.4 million tonnes to 3 million tonnes.

BASF India may edge higher after the company said its board has approved the
proposal concerning expansion of the company's polymer dispersions plant
capacity at Mangalore from the present 20000 tpa to 65000 tpa. The
state-of-the-art dispersions plant is expected to cost around Rs 41 crore
and will be financed by internal accruals and borrowings.

source:capitalmarket

Sensex tumbles to 2-month low, falls below 7,800

2005-10-27T06:01:00.000-07:00

A major sell-off gripped the bourses today on the last day of the expiry of
October 2005 derivatives contracts. The near-month derivatives contracts
expire on the last Thursday of every month. Disappointing Q2 results from
the largest commercial bank State Bank of India (SBI), and lower than
expected Q2 results from cellular services major Bharti Tele-Ventures (BTL)
triggered the sharp fall. Sell-off gripped the bourses in the last one hour
or so of trading. Both BTL and SBI plunged following the results
announcement.

A subdued to weak trend in European markets and some Asian markets also hurt
market sentiment.

The 30-share BSE Sensex tanked 176.20 points or 2.1% to settle at 7,798.49 -
its lowest level in nearly two months since 30 August 2005. The S&P CNX
Nifty lost 55.60 points or 2.3% to 2,352.90.

Index heavyweight Reliance Industries (RIL) declined sharply in the last
half an hour or so of trading in a weak market even as the company reported
a surge in Q2 September 2005 net profit which also beat market expectation.

A host of PSU banks slipped following SBIs disappointing Q2 outcome. ICICI
Bank declined sharply.

Turnover on BSE rose today. BSE clocked a turnover of Rs 2,778 crore
compared to Wednesday (26 October 2005) s Rs 2,391 crore. The last three
trading sessions had seen a fall in turnover ahead of the expiry of October
2005 derivatives contracts. BSE clocked a turnover of between Rs 2,391 crore
and Rs 2,437 crore in three trading sessions between 24 October 2005 and 26
October 2005.

FIIs have pressed heavy sales this month. The latest data showed that FIIs
sold shares worth a net Rs 453.60 crore on Wednesday (26 October 2005) the
day when the Sensex shed 17 points in volatile trade. In the month of
October 2005, FIIs have sold shares worth a net Rs 2,721 crore (till 26
October 2005). The heavy FII selling has caused a major correction on the
bourses in the past few days with the Sensex tumbling to a 2-month low on
Thursday (27 October 2005). From a lifetime closing high of 8,799.96 on 4
October 2005, the Sensex has lost 1,001.47 points or 11.3% to the current
7,798.49.

Stocks like Cipla, Bhel, Reliance Energy, Satyam Computer, NTPC, Maruti
Udyog, Grasim, Tata Motors, and Tata Steel dropped between 3% to 4.3% today.

In an otherwise weak market, select small-cap and mid-cap stocks advanced.
Shares of select power equipment firms like Siemens, Thermax, KEC
International and Torrent Cables advanced. MNC pharma scrips like Aventis
Pharma, Glaxosmithkline Pharma and Pfizer moved higher.

Housing finance firms HDFC and LIC Housing Finance edged higher on
expectations of increase in home loan rates. LIC Housing Finance spurted
11.7% to Rs 207.

Market breadth was quite weak. 1,640 stocks declined on BSE as compared to
774 stocks that rose. 51 scrips were unchanged. Losers outpaced gainers by a
ratio of 2.1:1.

Shares of two shipping firms Essar Shipping and Meractor Lines plunged.

Bharti Tele-Ventures plunged 7.3% to Rs 312.15. The stock declined on high
volume of 15.9 lakh shares. Bharti Tele-Ventures' (BTL) consolidated net
profit, as per US accounting standards, jumped 43% to Rs 521 crore in Q2
September 2005 from Rs 364 crore in Q2 September 2004. The results fell
below market expectation. Analysts had forecast a net profit of around Rs
550 crore from the cellular services major.

BTL's consolidated revenues as per US GAAP rose 46% to Rs 2,709 crore from
Rs 1,851 crore, driven by strong subscription growth. The company said the
adverse movement of the rupee against the dollar during the second quarter
had impacted its results.

Disappointing Q2 results hit SBI. The stock lost 6% to Rs 830. The stock
declined on huge volume of 33.9 lakh shares on BSE. SBI today reported a
12.3% growth in Q2 September 2005 net profit to Rs 1215.36 crore (Rs 1081.89
crore). Total income rose 1.2% to Rs 9856.04 crore from Rs 9737.43 crore.

SBIs net interest income rose 6.7% to Rs 3,607.95 crore from Rs 3,379.81
crore. There was a tax credit of Rs 49.98 crore in Q2 September 2005 as
against a tax provision of Rs 765.65 crore in Q2 September 2004.

A host of PSU banks lost ground. Andhra Bank plunged 7% to Rs 88.90, Bank of
Baroda lost 5.3% to Rs 214.90, Bank of India shed 5.2% to Rs 101.70, Vijaya
Bank lost 5% to Rs 51.80, Canara Bank shed 3% to Rs 199 and Oriental Bank of
Commerce shed nearly 3% to Rs 234.

ICICI Bank plunged 5.6% to Rs 482. 3.3 lakh shares changed hands in the
counter on BSE.

RIL dropped in volatile trade. The stock lost 2% to Rs 747.20. 40.5 lakh
shares changed hands in the counter on BSE. RILs net profit has jumped 42%
in Q2 September 2005 to Rs 2,481 crore (Rs 1,752 crore). Net sales have
risen 28% to Rs 20,717 crore (Rs 16,164 crore). A surge in net profit was
partly due to a sharp fall in interest cost to Rs 222 crore from Rs 434
crore in Q2 September 2004. The operating profit margin (OPM) declined to
17.9% in Q2 September 2005 from 19.6% in Q2 September 2004.

On a sequential (quarter on quarter) basis, net profit rose 7.4% from Rs
2,310 crore in Q1 June 2005. Sales rose 16.4% on a sequential basis from Rs
17,784 crore in Q1 June 2005. OPM declined to 17.9% in Q2 September 2005
from 20% in Q1 June 2005.

RIL said the increase in sales for the first six months, April-September
2005, reflected a 23% increase in product prices and a 4 percent rise in
volumes from the same period a year ago.

Hero Honda gained 3.7% to Rs 730 on expectation of a surge in festive Diwali
sales following a good monsoon this year. 2.55 lakh shares changed hands in
the counter on BSE.

Oil exploration major ONGC gained 1.1% to Rs 942 on the back of strong Q2
results. ONGC, on Wednesday, reported a 22.2% growth in Q2 September 2005
net profit to Rs 4138.25 crore (Rs 3383.87 crore). Total income (net of
excise) rose 10% to Rs 13543.31 crore (Rs 12289.29 crore).

L&T moved up 1% to Rs 1,370 after the company said on Wednesday that it had
sold its glass containers business to ACE Glass Containers Ltd. for an
undisclosed amount, thereby totally exiting the packaging business. L&T has
been exiting unrelated businesses as a part of its restructuring of
operations

Sail edged lower by 1.2% to Rs 49.80 after the company reported a 25.5% fall
in Q2 September 2005 net profit to Rs 1126.76 crore (Rs 1513.15 crore).
Total income (net of excise) rose 5.1% to Rs 7156.27 crore from Rs 6808.26
crore in Q2 September 2004.

Hinduja TMT flopped 8% to Rs 332.70 after the company reported 42.4% fall in
Q2 September 2005 net profit to Rs 12.10 crore from Rs 21.04 crore in Q2
September 2004. Income from operations declined 9.3% to Rs 41.03 crore (Rs
45.27 crore).

Patni Computer slumped 7% to Rs 419. 3.5 lakh shares changed hands in the
counter on BSE. Patni Computer today reported a 10% growth in Q3 September
2005 net profit to Rs 71.35 crore (Rs 67.60 crore). Revenue rose 37.9% to Rs
519.70 crore (Rs 376.66 crore).

Gail India dropped nearly 5% to Rs 238. Gail India reported a 69.7% growth
in Q2 September 2005 net profit to Rs 774 crore (Rs 456 crore). Net sales
rose 16.8% to Rs 3601 crore from Rs 3081 crore.

Mercator Lines plummeted 6.6% to Rs 102.10 after the company reported flat
Q2 September 2005 results. The company reported a net profit of Rs 31.59
crore as compared to a net profit of Rs 31.64 crore for Q2 September 2004.
Net sales rose 7.8% to Rs 134.65 crore (Rs 124.91 crore).

Essar Shipping tumbled 7.5% to Rs 28.20 after the company reported a 60%
fall in Q2 September 2005 net profit to Rs 12.34 crore (Rs 30.89 crore). Net
sales declined 31.4% to Rs 153.10 crore (Rs 223.11 crore).

Indian Rayon nudged up 1.6% to Rs 599.50 after the company reported a surge
in Q2 September 2005 net profit. Indian Rayon reported 56.4% growth in Q2
September 2005 net profit to Rs 38.59 crore (Rs 24.67 crore). Total income
rose 21.1% to Rs 569.94 crore (Rs 470.39 crore).

Gujarat Gas inched up 1.1% to Rs 1,096 after the company reported 53.5%
growth in Q3 September 2005 net profit to Rs 24.45 crore (Rs 15.92 crore).
Net sales rose 12.8% to Rs 160.48 crore (Rs 142.21 crore).

Engineers India spurted 6% to Rs 660 after the company reported a 28.8%
growth in Q2 September 2005 net profit to Rs 32.71 crore (Rs 26.80 crore). A
surge in other income by 30% to Rs 19.45 crore (Rs 14.88 crore) boosted Q2
bottom line. Net sales rose 12.3% to Rs 175.88 crore (Rs 156.58 crore).

Ciba Specialty Chemicals spiraled up 8.4% to Rs 414 on the back of robust Q2
September 2005 results. Ciba Specialty Chemicals (India) (CSCI) has reported
a 66.6% surge in Q2 September 2005 net profit to Rs 14 crore as against the
Rs 8.40 crore registered in Q2 September 2004. Net sales have spiraled up
13.9% to Rs 159.70 crore (Rs 140.20 crore).

Lumax Industries plunged 18.6% to Rs 106 after the company reported a sharp
fall in Q2 September 2005 net profit. Lumax Industries net profit declined
91.7% in Q2 September 2005 to Rs 0.22 crore (Rs 2.65 crore). Net sales rose
38% to Rs 98.07 crore (Rs 71.03 crore).

KEC International gained 4.4% to Rs 245 on the back of robust Q2 September
2005 results. For Q2 September 2005, KEC has registered a 67.6% growth in
net profit to Rs 15.49 crore compared to Rs 9.24 crore in Q2 September 2004.
Top line growth was behind the strong bottom line growth. Net sales jumped
55.2% to Rs 412.72 crore (Rs 265.78 crore).

TVS Motors lost 5% to Rs 88 after the company reported a 7% fall in Q2
September 2005 net profit to Rs 31.95 crore (Rs 34.24 crore). Net sales rose
6.2% to Rs 789.23 crore (Rs 742.87 crore).

EIH gained 2.5% to Rs 451.75 on the back of strong Q2 results. EIH has
reported a net profit of Rs 8.03 crore for Q2 September 2005 as compared to
a net loss of Rs 4.94 crore in Q2 September 2004. Total income has risen
27.2% to Rs 160.60 crore from Rs 126.19 crore.

source:capitalmarket

SBI drops on disappointing Q2 results

2005-10-27T01:20:00.000-07:00

State Bank of India came under selling pressure after its Q2 results came in
below market expectations.

The scrip was down 2.6% in afternoon trade to Rs 860.90. 12.9 lakh shares
changed hands in the counter on BSE.

SBI today reported a 12.3% growth in Q2 September 2005 net profit to Rs
1,215.36 crore (Rs 1,081.89 crore). Total income rose 1.2% to Rs 9,856.04
crore from Rs 9,737.43 crore.

Net interest income climbed 6.7% to Rs 3,607.95 crore from Rs 3,379.81
crore. Net interest margin leaped up to 42.1% from 41.8% in Q2 September
2005.

There was a tax credit of Rs 49.98 crore in Q2 September 2005 as against a
tax provision of Rs 765.65 crore in Q2 September 2004.

Provisions and contingencies rose 7.9% to Rs 817.54 crore (Rs 757.39 crore).

Bharti Tele-Ventures turns volatile

2005-10-26T23:57:00.000-07:00

After an initial fall following the announcement of Q2 results, the stock
staged a rebound from the lower level.

The stock was down 1.5% to Rs 331.60 in early afternoon trade. It had firmed
up on the eve of the results announcement, gaining nearly 1% to Rs 340 in
mid-morning trade.

The stock recovered sharply from a low of Rs 323.65 hit soon after the
results were made known in early afternoon trade.

6.6 lakh shares changed hands in the counter on BSE.

Bharti Tele-Ventures' (BTL) consolidated net profit as per US accounting
standards jumped 43% to Rs 521 crore in Q2 September 2005 from Rs 364 crore
in Q2 September 2004. Analysts had forecast a net profit of around Rs 550
crore from the cellular services major.

Consolidated revenues as per US GAAP rose 46% to Rs 2,709 crore from Rs
1,851 crore, driven by strong subscription growth.

Lumax Industries plunged 11.7% to Rs 115 after the company reported a sharp fall in Q2 September 2005 net profit

2005-10-26T23:26:00.000-07:00

Lumax Industries' net profit declined 91.7% in Q2 September 2005 to Rs 0.22
crore (Rs 2.65 crore). Net sales rose 38% to Rs 98.07 crore (Rs 71.03
crore).

Lumax is a leading automotive lighting solution provider, enjoying a 60%
market share. It mainly caters to the passenger car and the two-wheeler
segments.

The company is planning to ramp up export sales during the next few years.

Rolta India gained nearly 3% to Rs 159.50 after the company reported a decent growth in Q1 September 2005 net profit

2005-10-26T23:25:00.000-07:00

Rolta India reported a 26% growth in Q1 September 2005 net profit to Rs
31.68 crore (Rs 25.12 crore). Net sales rose 20.6% to Rs 90.51 crore (Rs
75.04 crore).

On a sequential quarter on quarter basis, net profit rose 28% from Rs 24.75
crore in Q4 June 2005. Net sales declined 11.3% on a sequential basis, from
Rs 102.05 crore in Q4 June 2005

About 96% of Roltas revenue is derived from its CAD/ CAM/ GIS business and
the balance from its e-Solutions services and Internet businesses. It
dominates (70%) the GeoSpatial market in India and expects to remain at the
cutting-edge of GeoSpatial technologies.

Rolta is also a leading provider of Plant Design Automation (PDA) solutions
in India, with an over 80% market share, and is the preferred partner for
plant Engineering Design Services (EDS) globally to international giants
including Dow Chemical Co.

Rolta has strong business partnerships with international technology
leaders.

Rolta has entered into a strategic partnership with Stone & Webster, Inc.,
USA, one of the world's foremost engineering-construction companies, to
provide high quality cost-effective engineering, design and procurement
services, related to power, refinery and petrochemical projects, worldwide.

Ciba Specialty Chemicals jumped 10% to Rs 420 boosted by robust Q2 September 2005 results

2005-10-26T23:11:00.000-07:00

The stock lost 2.2% on Wednesday (26 October 2005) to Rs 381.60 on the eve
of the results announcement.

Ciba Specialty Chemicals (India) (CSCI) has reported a 66.6% surge in Q2
September 2005 net profit to Rs 14 crore as against the Rs 8.40 crore
registered in Q2 September 2004. Net sales have spiraled up 13.9% to Rs
159.70 crore (Rs 140.20 crore).

Both segments, specialty effects chemicals and specialty industrial chemical
division, performed impressively.

CSCI manufactures, sells and trades in a wide range of specialty chemicals
comprising effect chemicals, industrial chemicals and other specialty
chemicals dedicated to producing high value effects for customers' products.

The company caters mainly to a broad spectrum of industries, namely,
petrochemicals, gas, lubricants, oil, automobiles, textiles, mining and
extraction, paper, water treatment, industrial and waste water management,
paints, plastics, inks, electronics material, packing, and home and personal
care consumer products.

Glenmark Pharma rose 1.1% to Rs 301 after the company said on Wednesday its Swiss subsidiary had acquired Servycal SA, a drug marketing firm in Argentina

2005-10-26T23:10:00.000-07:00

The stock rose 1.6% on Wednesday (26 October 2005) boosted by the
announcement.

Servycal has a portfolio focussed on oncology and it owns 17 approved
product registrations, with three more pending. Servycal is expected to earn
revenues of $4 million in the fiscal year 2005/06, Glenmark said.
Argentina's pharmaceutical market is valued at $1.6 billion and is growing
at more than 10 percent, Glenmark said.

Glenmark did not unveil the value of all cash acquisition deal. The
acquisition will be funded through internal accruals, Glenmark said in a
statement.

Glenmark Pharmas key focus includes dermatology, gynecology, respiratory,
gastrointestinals and lifestyle diseases like diabetes and cardiology. The
drug maker's domestic business contributes to a majority of the revenues.

Last month, Glenmark Pharmaceuticals S.A [Switzerland], a wholly owned
subsidiary of the company filed for Phase I clinical trials for GRC 8200,
the coleading DPP-IV inhibitor compound, with the Medicines and Healthcare
Products Regulatory Agency [MHRA] in the U.K. The Phase I study will be
conducted by Parexel UK, a leading global CRO.

The market edged slightly lower in a volatile trading session as the barometer BSE Sensex moved between positive and negative territory

2005-10-26T08:27:00.000-07:00

The market edged slightly lower in a volatile trading session as the
barometer BSE Sensex moved between positive and negative territory. The key
Q2 results announced today were mixed. While Grasim reported a fall in its
net profit, M&M recorded decent Q2 numbers. Tiscos growth in net profit was
decent.

Volumes were low for the third day in a row ahead of expiry of October 2005
derivatives contracts on Thursday (27 October 2005). BSE clocked a turnover
of Rs 2,391 crore compared to Tuesdays Rs 2,406 crore.

Last three trading sessions have seen a drop in volume, which is due to the
fall in FII activity. The daily gross FII turnover (total of gross purchases
and gross sales of the day) was between Rs 1,860 crore to Rs 1,934 crore in
two trading sessions between Monday (24 October 2005) and Tuesday (25
October 2005). The gross FII turnover stood at between Rs 2,200 crore to Rs
3,583 crore in 7 trading sessions between 13 October 2005 to 21 October
2005.

Grasim surged today after announcement of Q2 September 2005 results and
after the company said the future outlook for the company was bright.

Battered Ranbaxy recovered. Cellular services major Bharti Tele-Ventures
(BTL) rose for the second day in a row today. HDFC moved up in a volatile
trade on the back of a decent 20% growth in Q2 September 2005 net profit

Auto scrips slipped. Tata Motors came under selling pressure after the
company reported disappointing Q2 results on Tuesday and warned that profit
margins would be under pressure due to high input costs.

FMCG stocks such as Hindustan Lever (HLL) and ITC lost ground.

A host of small-cap and mid-cap stocks edged higher with select stocks
surging. Some of the side counters got a boost from decent to strong Q2
results.

Though market breadth was positive, it weakened when compared to mid-morning
trade when the breadth was strong. 1,284 stocks advanced on BSE as compared
to 1,138 stocks that declined. 62 scrips were unchanged. Gainers outpaced
losers by a ratio of 1.1:1. The advance decline ratio was at about 1.4:1 in
mid-morning trade.

The undercurrent was cautious as fears of avian flu spreading deepened on
Wednesday after China reported another outbreak in poultry.

The 30-share BSE Sensex lost 17 points to settle at 7,974.69. Sensex had
surged over 50 points at one point of time in mid-morning trade.

The S&P CNX Nifty shed 9.70 points or 0.4% to 2,408.50.

FIIs have resorted to profit taking in the past few days. The latest data
showed that FIIs sold shares worth a net Rs 232.70 crore on Tuesday the
day when Sensex rose 71 points in volatile trade. In the month of October
2005, FIIs have sold shares worth a net Rs 2,267.50 crore (till 25 October
2005). The heavy FII selling caused a major correction on the bourses in the
past few days with the Sensex tumbling to a 1-½ month low on Monday.

In contrast to sustained selling by FIIs, local mutual funds have resorted
to heavy purchases in the past few days when the market witnessed major
correction. On Tuesday, local mutual funds bought shares worth a net Rs
285.54 crore. The net inflow of mutual funds in equities in October 2005 has
reached Rs 2,186.74 crore (till 25 October 2005). In the month of September
2005, local funds pumped in Rs 3,233 crore.

The Q2 results announced so far has been a mixed bag

Grasim surged 3.8% today Rs 1,155.90. 1.5 lakh shares changed hands in the
counter on BSE. Grasims consolidated net profit fell 6.6% in Q2 September
2005 to Rs 201 crore (Rs 210 crore). Consolidated sales rose to Rs 2330
crore from Rs 2230 crore

Grasim's strong fundamentals, its unrelenting focus on operational
excellence, cost optimization, effective financial management, continuous
restructuring of business processes, together with the expected improvement
in the cement sector, augur well for the company. The prospects for Grasim
continue to be bright, the company said in a statement regarding the future
business outlook. Grasim said it would invest $ 350 million over a period of
seven years in a viscose staple fibre plant and plantations.

Tata Steel dropped 1% to Rs 346.50 after the company reported Q2 September
2005 results at the fag end of the trading session which were in line with
market expectation. 19.6 lakh shares changed hands in the counter on BSE.
Tiscos net profit rose 12.4% to Rs 1,045.42 crore (Rs 929.58 crore). Total
income (net of excise) rose 4.9% to Rs 3983.89 crore from Rs 3795.40 crore.

Tata Motors shed 4.4% to Rs 497.30 on disappointing Q2 September 2005
results and after the company warned that profit margins will remain under
pressure due to high input costs. 8.7 lakh shares changed hands in the
counter on BSE. Tata Motors, on Tuesday, reported a 9.4% growth in Q2
September 2005 net profit to Rs 338 crore (Rs 309 crore). Revenue rose 15.3%
to Rs 4,781 crore. The results are not comparable as the Q2 September 2005
results include the results of Tata Finance Ltd (TFL), Telco Dadajee
Dhackjee Ltd (TDDL) and Suryodaya Capital and Finance (Bombay) Ltd (SCFL)
which were merged with Tata Motors.

Maruti Udyog lost 2% to Rs 546, Bajaj Auto shed 1.9% to Rs 1,762.15, and
Hero Honda shed 1.3% to Rs 704.85.

Tata Power lost 3.4% to Rs 399.80, Reliance Energy shed 1.9% to Rs 520.10
and NTPC shed 2.7% to Rs 96.30.

HLL lost 1.2% to Rs 165.25 and ITC shed 1.4% to Rs 116.50.

Battered Ranbaxy recovered. The stock gained 3.6% to Rs 356.90. The stock
rose on high volume of 15.6 lakh shares on BSE. The stock had received a
battering in the past few days after it reported a sharp fall in Q3
September 2005 net profit.

Cipla gained 1.9% to Rs 374.10 whereas Dr Reddys Labs dropped 2.6% to Rs
821.90

Cellular services major Bharti Tele-Ventures (BTL) edged higher for the
second day in a row on expectation of strong Q2 results. The stock gained
2.5% to Rs 337.95.

HDFC gained 1.8% to Rs 930. HDFCs net profit rose 20% in Q2 September 2005
to Rs 298.98 crore (Rs 248.13 crore). Income from operations rose 24.3% to
Rs 1045.20 crore compared to Rs 840.26 crore. HDFC today said it would team
up with US private equity firm WL Ross to set up a fund aimed at corporate
restructuring in India.

Reliance Industries (RIL) was volatile as the stock moved between positive
and negative territory. The stock shed 0.5% to Rs 763.60. 15.5 lakh shares
changed hands in the counter on BSE. RIL announces Q2 results tomorrow. RIL
is expected to report strong Q2 September 2005 results mainly on the back of
record refining margins.

Ispat Industries plunged 6% to Rs 14.85 after the company reported a net
loss of Rs 232.83 crore for Q2 September 2005 as compared to a net profit of
Rs 77.47 crore in Q2 September 2004. Total income (net of excise) declined
20.5% to Rs 1206.90 crore from Rs 1518.81 crore in Q2 September 2004.

ONGC gained 0.2% to Rs 932.50. ONGC reported 22.2% growth in Q2 September
2005 net profit to Rs 4138.25 crore (Rs 3383.87 crore). Total income (net of
excise) rose 10% to Rs 13543.31 crore (Rs 12289.29 crore). ONGCs results
hit the market at the fag end of the trading session.

Indiabulls Financial Services plunged after the company said the Income Tax
department had visited 3 out of 129 offices of Indiabulls Securities under a
survey for the purpose of third party verifications. Indiabulls Securities
is subsidiary of Indiabulls Financial Services. The stock lost 12.4% to Rs
153.60. The scrip declined on heavy volume of 47.99 lakh shares.

M&M witnessed a bout of volatility after the announcement of Q2 results in
afternoon trade. The scrip ended flat at Rs 361.10. It moved between a low
of Rs 358 and a high of Rs 366.85. M&M reported 27% growth Q2 September 2005
net profit to Rs 157.20 crore (Rs 122.91 crore). M&Ms total income (net of
excise) rose 22% to Rs 1,944.24 crore (Rs 1,591.74 crore).

Phoenix Lamps jumped 20% to Rs 88.60 boosted by robust Q2 September 2005
results. Phoenix Lamps net profit has jumped 104% in Q2 September 2005 to
Rs 5.61 crore (Rs 2.75 crore). Net sales has risen 33% to Rs 61.25 crore (Rs
45.99 crore).

Tata Chemicals gained 1.2% to Rs 181.50 boosted by strong Q2 results. Tata
Chemicals net profit rose 44% in Q2 September 2005 to Rs 125.86 crore (Rs
87.19 crore). Top line growth led top line growth. Net sales rose 36.6% to
Rs 996.53 crore (Rs 729.02 crore).

Zuari Industries jumped 12.4% to Rs 112 on the back of robust Q2 results.
Zuari Industries net profit jumped 86% in Q2 September 2005 to Rs 33.70
crore (Rs 18.10 crore). Net sales rose 56% to Rs 644.25 crore (Rs 412.36
crore).

Aimco Pesticides jumped 5% to Rs 24.30 the maximum permissible level of
the day after Excel Crop Care said it has decided to subscribe to 23 lakh
equity shares on preferential basis at a price of Rs 24.50 per share.

Micro Inks gained 2.5% to Rs 643 after Huber Group, the world's
fifth-largest printing ink maker, agreed to acquire up to 59.06% stake in
the company at Rs 675 per share from promoters the Bilakhia family.

Paper Products jumped 9% to Rs 248.50 on the back of a decent growth in Q3
September 2005 net profit. Paper Products (PPL)s net profit rose 28.7% in
Q3 September 2005 to Rs 6.58 crore (Rs 5.11 crore). Net sales rose 14.5% to
Rs 104.19 crore (Rs 90.97 crore).

Century Enka lost 3.4% to Rs 218.90 hit by dismal Q2 September 2005 results.
Century Enkas net profit declined 24% in Q2 September 2005 to Rs 12.19
crore (Rs 16.06 crore). Net sales declined nearly 9% to Rs 242.39 crore (Rs
266.32 crore).
source:capitalmarket

Tata Motors skids

2005-10-26T02:59:00.000-07:00

Tata Motors came under selling pressure following disappointing Q2 September
2005 results and after the company warned that margins would remain under
pressure due to high raw material costs.

The stock was down 4.1% on BSE in late trading to Rs 498.60. 7.6 lakh shares
changed hands in the counter on BSE.

On Tuesday (25 September 2005), the stock advanced after its Q2 results hit
the market in late trading. The scrip gained 0.5% on Tuesday to Rs 520.20.

Tata Motors reported a 9.4% growth in Q2 September 2005 net profit to Rs 338
crore (Rs 309 crore). Revenue rose 15.3% to Rs 4,781 crore. The results are
not comparable as the Q2 September 2005 results include the results of Tata
Finance Ltd (TFL), Telco Dadajee Dhackjee Ltd (TDDL) and Suryodaya Capital
and Finance (Bombay) Ltd (SCFL) which were merged with Tata Motors.

Tata Motors' sales of passenger and utility vehicles declined by 5 percent
in Q2 September 2005, but sales of commercial vehicles grew 14 percent, and
exports more than doubled.

Paper Products in demand on decent Q3 outcome

2005-10-26T02:50:00.000-07:00

Paper Products jumped 7.5% to Rs 245 on the back of a decent growth in Q3
September 2005 net profit.

1,499 shares changed hands in the counter on BSE.

The stock had staged a rebound from lower level in the past two days ahead
of the results announcement. From a low of Rs 216.80 on 20 October 2005, the
stock rose 5.1% in two trading sessions to Rs 227.90 on 25 October 2005.

Paper Products (PPL)s net profit rose 28.7% in Q3 September 2005 to Rs 6.58
crore (Rs 5.11 crore). Net sales rose 14.5% to Rs 104.19 crore (Rs 90.97
crore).

PPL manufactures consumer packaging products with its presence conspicuous
in the premiumend segment of the packaging industry. Huhtamaki Oyi, Finland
has a 59% stake in the equity capital of the company. PPL has recently been
more attuned to innovation and value addition through its programme of NASP
(New Application, Structures and Products).

HLL, Nestle, Eveready, GSK, Cadbury, P&G, Perfetti, Coca-Cola among others
figure among the many clients of PPL. The company's top 10 clients take up
80% of sales. HLL, proves dominant here, accounting for 25% of sales.

PPL has taken a decision to invest Rs 65 crore over a 2-year period in
setting up a production facility in North India.

Sensex recovers from lower level

2005-10-26T02:45:00.000-07:00

The market recovered from lower in mid-afternoon trade in what was a
lacklustre trading session. The undercurrent was cautions as fears of avian
flu spreading deepened on Wednesday after China reported another outbreak in
poultry.

Grasim surged after announcement of Q2 September 2005 results and after the
company said the future outlook for the company was bright.

Tata Motors and NTPC weakened further even as Bharti Tele-Ventures firmed
up. Dr Reddys Laboratories weakened.

Select side counters held firm. Stocks like Zuari Industries, Archies
Greetings, Austin Engineering, Phoenix Lamps, Thiru Arooran Sugars, Amar
Remedies, Emami, Simplex Casting, Hikal, Hind Rectifiers, Ashapura, RPG Life
Sciences, Camlin, Asian Electronics, Manugraph Industries, Stone India,
International Hometex, Borosil Glass Works, Gokaldas Exports, BOC India,
Geometric Software, Avaya GlobalConnect, Paper Products, Jay Bharat Maruti,
McDowell edged higher.

At 14:35 IST, Sensex was up 7 points at 7,998 off the days low of
7,951.05.

Grasim jumped 3.7% to Rs 1,155. 1.2 lakh shares changed hands in the counter
on BSE. Grasim's strong fundamentals, its unrelenting focus on operational
excellence, cost optimization, effective financial management, continuous
restructuring of business processes, together with the expected improvement
in the cement sector, augur well for the company. The prospects for Grasim
continue to be bright, the company said in a statement regarding the future
business outlook.

Grasims consolidated net profit fell 6.6% in Q2 September 2005 to Rs 201
crore (Rs 210 crore). Consolidated sales rose to Rs 2330 crore from Rs 2230
crore

Cellular services major Bharti Tele-Ventures (BTL) edged higher for the
second day in a row on expectation of strong Q2 results. The stock gained 2%
to Rs 336.35.

Battered Ranbaxy recovered. The stock gained 3.6% to Rs 357. The stock rose
on high volume of 12.8 lakh shares on BSE. The stock had received a
battering in the past few days after it reported a sharp fall in Q3
September 2005 net profit.

Cipla gained 1.8% to Rs 374 whereas Dr Reddys Labs dropped 1% to Rs 834.75.

Tata Motors shed 3.7% to Rs 500.60 on disappointing Q2 September 2005
results and after the company warned that profit margins will be under
pressure due to high input costs. 6 lakh shares changed hands in the counter
on BSE. Tata Motors, on Tuesday, reported a 9.4% growth in Q2 September 2005
net profit to Rs 338 crore (Rs 309 crore). Revenue rose 15.3% to Rs 4,781
crore. The results are not comparable as the Q2 September 2005 results
include the results of Tata Finance Ltd (TFL), Telco Dadajee Dhackjee Ltd
(TDDL) and Suryodaya Capital and Finance (Bombay) Ltd (SCFL) which were
merged with Tata Motors.

Bajaj Auto shed 1.8% to Rs 1,764, Maruti Udyog lost 1.3% to Rs 550 and Hero
Honda shed 1.3% to Rs 705.

Tata Power lost 3.4% to Rs 399.70 and NTPC shed 2% to Rs 96.90.

Ispat Industries plunged 7% to Rs 14.65 after the company reported a net
loss of Rs 232.83 crore for Q2 September 2005 as compared to a net profit of
Rs 77.47 crore in Q2 September 2004. Total income (net of excise) declined
20.5% to Rs 1206.90 crore from Rs 1518.81 crore in Q2 September 2004.

source:capitalmarket

Sensex slips into the red, falls below 8,000

2005-10-26T01:37:00.000-07:00

The Sensex slipped into the red in afternoon trade. The undercurrent turned
cautions as fears of avian flu spreading deepened on Wednesday after China
reported another outbreak in poultry while India said it was testing blood
samples from 10 dead migratory birds.

Ranbaxy held firm. Sell-off was witnessed in Tata Power. Auto shares
slipped. FMCG major Hindustan Lever, ITC and NTPC weakened. State Bank of
India slipped into the red in volatile trade. Reliance Industries and
Infosys came off the higher level.

Though the market breadth was positive it weakened when compared to early
afternoon trade.

At 13:29 IST, Sensex was down 25 points at 7,965. Sensex came off the days
high of 8,047.86.

Tata Power lost 2.6% to Rs 403.15 and Reliance Energy shed 1.2% to Rs
523.55. NTPC shed 1.1% to Rs 97.90.

M&M was range bound after it reported 27% growth Q2 September 2005 net
profit to Rs 157.20 crore (Rs 122.91 crore). The stock was up 0.6% to Rs
363.30. M&Ms total income (net of excise) rose 22% to Rs 1,944.24 crore (Rs
1,591.74 crore).

Tata Motors shed 2.3% to Rs 508. 4.06 lakh shares changed hands in the
counter on BSE. Tata Motors, on Tuesday, reported a 9.4% growth in Q2
September 2005 net profit to Rs 338 crore (Rs 309 crore). Revenue rose 15.3%
to Rs 4,781 crore. The results are not comparable as the Q2 September 2005
results include the results of Tata Finance Ltd (TFL), Telco Dadajee
Dhackjee Ltd (TDDL) and Suryodaya Capital and Finance (Bombay) Ltd (SCFL)
which were merged with Tata Motors.

Bajaj Auto lost 1.6% to Rs 1,767, Maruti Udyog shed 0.8% to Rs 552.10 and
Hero Honda shed 0.5% to Rs 711.

ITC lost 1.6% to Rs 116.25. 10.3 lakh shares changed hands in the counter on
BSE. FCMG major Hindustan Lever shed 0.9% to Rs 165.85.

Battered Ranbaxy recovered. The stock gained 3.5% to Rs 356. The stock rose
on high volume of 11.6 lakh shares on BSE. The stock had received a
battering in the past few days after it reported a sharp fall in Q3
September 2005 net profit.

Grasim witnessed a bout of volatility after its Q2 results hit the market.
The stock was up 0.6% to Rs 1,120.50. 72,303 shares changed hands in the
counter on BSE. Grasims consolidated net profit fell 6.6% in Q2 September
2005 to Rs 201 crore (Rs 210 crore). Consolidated sales rose to Rs 2330
crore from Rs 2230 crore.

Phoenix Lamps spurted 8% to Rs 79.80 on the back of robust Q2 September 2005 results

2005-10-26T01:22:00.000-07:00

Phoenix Lamps (PLL) net profit has jumped 104% in Q2 September 2005 to Rs
5.61 crore (Rs 2.75 crore). Net sales has risen 33% to Rs 61.25 crore (Rs
45.99 crore).

PLL exports halogen automotive lamps and compact fluorescent lamps, under
the brand name Halonix. The company has established its markets in the
European Union, Japan, South Korea, Brazil, Australia, South Africa, Middle
East, South-East Asia, North and South American, with about 50% of the total
revenue coming from exports. It is also engaged in private labeling for
several world-renowned lighting companies.

Micro Inks gains on acquisition of control by Huber Group

2005-10-26T00:30:00.000-07:00

Micro Inks jumped nearly 4% to Rs 652 after Huber Group, the world's
fifth-largest printing ink maker, agreed to acquire up to 59.06% stake in
the company at Rs 675 per share from promoters the Bilakhia family.

53,211 shares changed hands in the counter on BSE by early afternoon trade.

Following the acquisition of controlling stake, the Huber Group has
announced an open offer to acquire additional 20% stake (49.74 lakh shares)
of Micro Inks at Rs 675 per share.

Mirco Inks is the largest ink manufacturing company in India, commanding a
30% market share. In March 2004, the company changed its name from Hindustan
Inks & Resins to Micro Inks, which is the name of its 100% subsidiary in the
US. This move was made in a bid to improve recall amongst international
customers as a unified brand.

The main user industries for printing inks are the packaging, printing and
publishing sectors.

Indiabulls tanks

2005-10-26T00:12:00.000-07:00

Indiabulls Financial Services plunged 9% to Rs 159.15 after the company said
the Income Tax department had visited 3 out of 129 offices of Indiabulls
Securities under a survey for the purpose of third party verifications.

Indiabulls Securities is subsidiary of Indiabulls Financial Services.

The stock, however, came off the lower level after it had declined as much
as 19.6% to hit a low of Rs 141 soon after the announcement which hit the
market in early trade today. Volumes in the stock were a huge 34.3 lakh
shares on BSE.

The Income Tax survey was related to collection of transactions and
verification details of clients of Indiabulls Securities who had dealt in
penny stocks. Most of such client accounts had been already shut down by
Indiabulls Securities as a part of its internal due diligence and compliance
process, the company said.

Indiabulls Financial Services said the purpose of the visit of Income Tax
department was not related to any inspection on account of any companies of
Indiabulls group and was limited to client details of Indiabulls Securities.
Indiabulls group has paid about Rs 36 crore in income tax for the first six
months of the current financial year, the company said

Amico Pesticides surges on acquisition of 25% stake by Excel Crop Care

2005-10-26T00:03:00.000-07:00

2,737 shares changed hands in the counter on BSE.

Excel Crop Care gained 1.6% to Rs 205.30. 1,183 shares changed hands in the
counter on BSE.

Ahead of the announcement, Aimco Pesticides shares had staged a rebound from
lower level. From a low of Rs 21 on 21 October 2005, the stock rose 10.2% in
two trading sessions to Rs 23.15 on 25 October 2005.

Shares of Excel Crop Care lost 0.5% on Tuesday (25 October 2005) to Rs
201.90 ahead of the announcement.

Following the acquisition of 23 lakh shares of Amico Pesticides (APL), Excel
will hold 24.9% of the post preferential issue paid up share capital of APL
and it will acquire control management of APL, Excel said.

Excel will also make an open offer to acquire 18.5 lakh shares of APL.

Range bound market; Tata Motors drops

2005-10-25T23:44:00.000-07:00

The market was range bound in morning trade. Auto scrips slipped. Tata
Motors came under selling pressure after the company reported disappointing
Q2 results on Tuesday and warned that profit margins would be under pressure
due to high input costs.

Housing finance major HDFC held firm on the back of a decent 20% growth in
Q2 September 2005 net profit.

Pharma shares were in demand but PSU banks failed to sustain higher level.

Though the market breadth was positive, it weakened when compared to early
trade when it was strong. 1,224 stocks advanced on BSE as compared to 849
stocks that declined. 48 scrips were unchanged. Gainers outpaced losers by a
ratio of 1.4:1.

Select side counter edged higher. Stocks like Amar Remedies, Archies
Greetings, Ansal Buildwell, Coats of India, DIC India, Jay Bharat Maruti,
Aftek Infosys, Hikal, Camlin, Rallis India, Geometric Software, Hind
Rectifiers, Simplex Casting, Hotel Leelaventure, DS Kulkarni Developers,
Birla Kennametal, BOC India, Phoenix Lamps, DCW, Alembic, Alps Industries
edged higher.

Stocks like Indiabulls and Punjab Alkalies plunged.

Zuari Industries spurted on the back of strong Q2 results.

At 11:28 IST, Sensex was up 34 points at 8,026.

Tata Motors dropped nearly 2% to Rs 510. 2.2 lakh shares changed hands in
the counter on BSE. Tata Motors reported a 9.4% growth in Q2 September 2005
net profit to Rs 338 crore (Rs 309 crore). Revenue rose 15.3% to Rs 4,781
crore. The results are not comparable as the Q2 September 2005 results
include the results of Tata Finance Ltd (TFL), Telco Dadajee Dhackjee Ltd
(TDDL) and Suryodaya Capital and Finance (Bombay) Ltd (SCFL) which were
merged with Tata Motors.

Bajaj Auto lost 0.9% to Rs 1,780, Maruti Udyog shed 0.4% to Rs 555 and Hero
Honda lost 0.4% to Rs 711.75.

Battered Ranbaxy recovered. The stock gained 3% to Rs 354.90. The stock rose
on high early volume of 6.4 lakh shares on BSE. The stock had received a
battering in the past few days after it reported a sharp fall in Q3
September 2005 net profit.

Cipla gained 1.8% to Rs 374 and Dr Reddys Laboratories rose 1.9% to Rs 860.

HDFC gained 1.2% to Rs 924.50. 9,832 shares changed hands in the counter on
BSE. HDFCs net profit rose 20% in Q2 September 2005 to Rs 298.98 crore (Rs
248.13 crore). Income from operations rose 24.3% to Rs 1045.20 crore
compared to Rs 840.26 crore

ONGC and Tisco edged higher ahead of the announcement of Q2 September 2005
results later in the day today. ONGC rose 1.1% to Rs 941 and Tisco gained 1%
to Rs 353.75.

Cellular services major Bharti Tele-Venture edged higher for the second day
in a row. The stock gained 1.1% to Rs 333.25.

Index heavyweight Reliance Industries edged higher for the second day in a
row after the company said its shareholders had approved a scheme to hive
off the telecommunications, coal, power and financial businesses into
separate companies. The stock was up 0.7% to Rs 773.50. 3.7 lakh shares
changed hands in the counter on BSE.

Fertilizers major Zuari Industries jumped 15% to Rs 114.60 after the company
reported a sharp surge in Q2 September 2005 net profit. Zuari Industries
net profit jumped 86% in Q2 September 2005 to Rs 33.70 crore (Rs 18.10
crore). Net sales rose 56% to Rs 644.25 crore

Century Enka dropped 5% to Rs 214.75. Century Enkas net profit declined 24%
in Q2 September 2005 to Rs 12.19 crore (Rs 16.06 crore). Net sales declined
nearly 9% to Rs 242.39 crore (Rs 266.32 crore

source:capitalmarket

Firm opening; strong market breadth

2005-10-25T22:41:00.000-07:00

The market edged higher in early trade as blue chips registered marginal to
small gains. Battered Ranbaxy recovered. ONGC and Tisco edged higher ahead
of the announcement of Q2 September 2005 results later in the day today.

PSU banks moved up for the second day in a row. Housing finance major HDFC
advanced after the company, on Tuesday, reported a decent 20% growth in Q2
September 2005 net profit.

Select stocks like Tata Chemicals, CCL Products, Phoenix Lamps and Zuari
Industries edged higher on the back of strong Q2 September 2005 results. The
market breadth was positive. 1,016 stocks advanced on BSE as compared to 551
stocks that declined. 32 scrips were unchanged. Gainers outpaced losers by a
ratio of 1.8:1.

At 10:23 IST, Sensex was up 34 points at 8,025. Sensex hit a high of
8,042.37.

The market sentiment was firm after RBI in its credit policy announced on
Tuesday allowed banks to invest more in equity markets by raising banks
capital market exposure. RBI allowed banks to have capital market exposure
of up to 20% of their net worth, compared with 5% of previous year loans
now.

Ranbaxy surged 3.2% to Rs 355. The stock rose on high early volume of 3.6
lakh shares on BSE. The stock had received a battering in the past few days
after it reported a sharp fall in Q3 September 2005 net profit.

Cipla rose 1.5% to Rs 372.80.

ONGC gained 1.3% to Rs 942.60. 54,056 shares changed hands in the counter on
BSE.

HDFC gained 1.2% to Rs 924.50. 51,95 shares changed hands in the counter on
BSE. HDFCs net profit rose 20% in Q2 September 2005 to Rs 298.98 crore (Rs
248.13 crore). Income from operations rose 24.3% to Rs 1045.20 crore
compared to Rs 840.26 crore.

Punjab National Bank gained 0.5% to Rs 403, Bank of Baroda rose 1.6% to Rs
227.50, Union Bank of India gained 1.1% to Rs 111.90 and Corporation Bank
gained 0.6% to Rs 349.85.

Fertilizers major Zuari Industries jumped 9.4% to Rs 109 after the company
reported a sharp surge in Q2 September 2005 net profit. Zuari Industries
net profit jumped 86% in Q2 September 2005 to Rs 33.70 crore (Rs 18.10
crore). Net sales rose 56% to Rs 644.25 crore

RIL, PSU banks lead recovery on bourses

2005-10-25T10:26:00.000-07:00

The market staged a recovery today in a volatile trading session after RBI
raised short-term interest rates by a widely expected 25 basis points. The
volatility in the barometer index, the BSE Sensex, was partly due to
volatility in a host of Sensex constituents like Tata Motors, Wipro,
Infosys, ONGC, ITC, Gujarat Ambuja Cements, Hindustan Lever, HDFC and HDFC
Bank.

The market sentiment was boosted after RBI allowed banks to invest more in
equity markets by raising banks capital market exposure. RBI allowed banks
to have capital market exposure of up to 20% of their net worth, compared
with 5% of previous year loans now.

RBI raised reverse repo rate by 25 basis points to 5.25% effective from 26
October 2005. RBI also hiked the repo rate by 25 basis points to 6.25%. It
kept the bank rate unchanged at 6%. PSU bank stocks edged higher. Index
heavyweight Reliance Industries moved up after the company said its
shareholders had approved a scheme to hive off the telecommunications, coal,
power and financial businesses into separate companies.

Cellular services major Bharti Tele-Ventures advanced on renewed buying
interest at the lower level.

Tata Motors witnessed high volatility in the latter part of the trading
session after its Q2 results hit the market.

Ranbaxy Laboratories lost further ground extending a setback in the stock in
the past two days caused by the company's reporting to a sharp fall in Q3
September 2005 net profit.

Though market breadth was strong, it weakened in the latter part of trading
when compared to mid-afternoon trade when the breadth was even stronger.
1,385 stocks advanced on BSE as compared to 1,038 stocks that declined. 61
scrips were unchanged. Gainers outpaced losers by a ratio of 1.3:1. In
mid-afternoon trade, the advance decline ratio was over 1.5:1.

The 30-share BSE Sensex gained 70.94 points or 0.9% to settle at 7,991.74.
The barometer index came sharply off the higher level after it had surged as
much as 153.28 points in mid-afternoon trade to a high of 8,074.08 after the
credit policy announcement.

Volume was low for the second day in a row today. BSE clocked a turnover of
Rs 2,406 crore compared to Mondays Rs 2,437.14 crore. The last two days
have seen a drop in volume, which is due to the fall in FII activity. Monday
s gross FIIs turnover (total of gross purchases and gross sales of the day)
was Rs 1,861 crore compared to turnover of between Rs 2,200 crore to Rs
3,583 crore between 13 October 2005 to 21 October 2005.

On a net basis, FIIs sold shares worth Rs 132.10 crore on Monday. FIIs have
resorted to profit taking in the past few days. In the month of October
2005, FIIs have sold shares worth a net Rs 2,034.80 crore (till 24 October
2005). The heavy FII selling caused a major correction on the bourses with
the Sensex tumbling to a 1-½ month low on Monday.

A host of side counters edged higher today. Stocks like Sasken
Communication, Kinetic Motor, Loyal Textile Mills, Ansal Buildwell, Simplex
Casting, Infomedia India, Essar Steel, Elnet Technologies, HCL Infosystems,
RPG Transmission, JBM Auto, Nucleus Software, ABG Heavy Industries, Zuari
Industries, Kamat Hotels, SREI Infrastructure Finance, Century Textiles,
Yuken India, Greenply Industries, Balrampur Chini Mills, Hindustan Oil
Exploration, Rajesh Exports, Birla Corporation and Jindal Stainless rose
between 5% to 14% for the day.

PSU banks advanced. State Bank of India gained 2.5% to Rs 885.60, Dena Bank
rose 4.7% to Rs 34.10, Syndicate Bank advanced 4.6% to Rs 80.40, Oriental
Bank of Commerce rose 4% to Rs 250, Bank of Baroda gained 3.8% to Rs 225,
Punjab National Bank rose 3% to Rs 399.50, Bank of India rose 2.4% to Rs
106.80, and Union Bank of India advanced 2% to Rs 111.45.

Reliance Industries gained 1.2% to Rs 766. 27.4 lakh shares changed hands in
the counter on BSE.

L&T surged 5% to Rs 1,362, Dr Reddys Lab rose 4.7% to Rs 845 and Bhel
advanced 3% to Rs 1,162.

Tata Motors rose 0.6% to Rs 520.95. Tata Motors today reported a 9.4% growth
in Q2 September 2005 net profit to Rs 338 crore (Rs 309 crore). Revenue rose
15.3% to Rs 4,781 crore. The results are not comparable as the Q2 September
2005 results include the results of Tata Finance Ltd (TFL), Telco Dadajee
Dhackjee Ltd (TDDL) and Suryodaya Capital and Finance (Bombay) Ltd (SCFL)
which were merged with Tata Motors.

Housing finance major HDFC gained 0.3% to Rs 916.50 after the company
reported a decent growth in Q2 September 2005 net profit. HDFCs net profit
rose 20% in Q2 September 2005 to Rs 298.98 crore (Rs 248.13 crore). Income
from operations rose 24.3% to Rs 1045.20 crore compared to Rs 840.26 crore.

HCL Tech jumped 4.6% to Rs 472 after the company reiterated strong growth
forecasts as it chased large deals. HCL Technologies Q1 July-September 2005
consolidated net profit excluding other income rose to $ 34.54 million from
$ 19.62 million in the same period last year. Gross revenue for the quarter
rose 30% to $ 220.57 million

HCL Tech said it won three new multi-year contracts worth more than $ 50
million each, including one worth $ 100 million-plus with a global telecom
company.

Ranbaxy lost 3.4% to Rs 343.10. The stock declined on high volume of 18.8
lakh shares on BSE.

Auto shares slipped on profit taking. Car major Maruti Udyog shed 2.3% to Rs
559, Hero Honda lost 1.4% to Rs 715.85 and Bajaj Auto shed 0.6% to Rs 1,787.

Century Textiles jumped 6% to Rs 284.95. The stock rose on high volume of
16.5 lakh shares. Century Textiles reported a 49.5% fall in Q2 September
2005 net profit to Rs 7.41 crore from Rs 14.68 crore in Q2 September 2004.
Net sales declined to Rs 582.95 crore (Rs 591.09 crore)

The floods resulted in loss of production and also expenditure for repairs
and re-commissioning of plants in Mumbai, which impacted the Q2 results,
Century Textiles said. The working of Rayon Tyre Cord (textiles segment) and
chemical plants was adversely affected due to the floods in Mumbai, it said.

VSNL gained 1.1% to Rs 320.55. The stock rose on high volume of 21 lakh
shares on BSE. VSNLs net profit rose 3.3% in Q2 September 2005 to Rs 91
crore (Rs 88.10 crore). Total income rose 18.9% to Rs 961.20 crore (Rs
807.90 crore).

IPCL was highly volatile following the announcement of Q2 results. The stock
ended flat at Rs 222.50. The scrip moved between a low of Rs 219.55 and a
high of Rs 231.10. Volumes in the stock were a huge 39.8 lakh shares on BSE.

Praj Industries jumped 5% to Rs 90.25 after the company said it has
contracted projects worth over Rs 100 crore. Among these, major orders came
from Balarampur Chini Mills, a distillery expansion project in Swaziland
from a South African Company and many grain based distillery projects, Praj
Industries said.

HCL Infosystems leaped up 7.5% to Rs 256 on reports that it has entered into
a strategic alliance with Bull of France to provide open source software.

Nirma spurted nearly 5% to Rs 454 boosted by strong Q2 September 2005
results. Nirma reported a net profit of Rs 99.20 crore for Q2 September 2005
as compared to a net profit of Rs 45.46 crore for Q2 September 2004. Net
sales rose 10.9% to Rs 485.74 crore (Rs 437.91 crore).

ABB moved higher by 1% to Rs 1,688 on the back of impressive Q3 outcome. ABB
s net profit jumped 47% in Q3 September 2005 to Rs 52.94 crore (Rs 35.97
crore). Total income rose 25% to Rs 719.92 crore (Rs 575.47 crore).

Finolex Cables flopped 4.7% to Rs 237.05. Finolex Cables today reported a
14% growth in Q2 September 2005 net profit to Rs 5.71 crore (Rs 5 crore).
Total income declined 7% to Rs 149.30 crore (Rs 160.60 crore).

Crew BOS Products made headway by 1.6% to Rs 166. The company today reported
a sharp surge in Q2 September 2005 net profit. Crew BOS Products reported a
net profit of Rs 4.01 crore as compared to Rs 2 crore in Q2 September 2004.
Net sales rose 71% to Rs 33.59 crore (Rs 19.62 crore).

Sterlite Optical Technologies slumped 7% to Rs 83.05 after the company
reported a sharp fall in Q2 September 2005 net profit. The company reported
a 76.7% fall in Q2 September 2005 net profit to Rs 1.17 crore (Rs 5.03
crore). Net sales surged 46.5% to Rs 137.68 crore (Rs 93.93 crore).

Kinetic Engineering marched up 5% to Rs 193.55 the maximum permissible
level of the day. Reliance Capital said on Monday that it would buy 15% of
Kinetic Engineering and be in line for more equity as part of a Rs 38.40
crore ($8.5 million) investment in the two-wheeler maker. Kinetic
Engineering will issue 715,000 new shares, or 14.96 percent of the expanded
equity on a preferential issue basis, to Reliance Capital's private equity
arm at Rs 178 per share, a 3.6 percent discount to the closing price of Rs
184.35 on Monday (24 October 2005).

The news boosted another Kinetic group company Kinetic Motor, which spiraled
up 14% to Rs 67.

Birla Corporation moved upstream for the second day in a row on the back of
strong Q2 results. The stock gained 5% to Rs 235. Birla Corporations net
profit rose 36% in Q2 September 2005 to Rs 18.16 crore (Rs 13.38 crore). Net
sales declined 1.1% to Rs 264.53 crore (Rs 267.60 crore)

source:capitalmarket

Sensex down 148 points; some Auto Scrips move higher

2005-10-24T05:34:00.000-07:00

The volatility on the bourses has become immense. A day after it jumped 134
points on Friday (21 October 2005), the barometer BSE Sensex tanked 148
points today.

Todays fall on the bourses came amid concerns about a widely expected
interest rate increase when RBI reviews policy on Tuesday (25 October 2005).
Higher interest rates will raise the borrowing costs of companies. Market
men expect RBI to raise the short-term reverse repo rate -- the benchmark
for short-term money market rates -- by 25 basis points to 5.25%

Shares of Ranbaxy tanked after the company, on Friday (21 October 2005)
reported a sharp fall in Q3 September 2005 net profit. Sun Pharma and
biotech major Biocon tumbled. Dr Reddys Laboratories came under selling
pressure.

Stocks like Tata Power, Tisco, ITC, MTNL, Wipro, ONGC, State Bank of India,
Hero Honda, and Bhel lost between 3% to 5.9% for the day. Stocks like
Hindalco, Zee Telefilms, Bharti Tele-Ventures, Infosys Technologies, ICICI
Bank, and Hindustan Lever declined between 2% to 2.8% for the day.

Index heavyweight Reliance Industries lost 1.3% to Rs 760, and housing
finance major HDFC shed 1.3% to Rs 912.20.

Select side counters edged higher with some of them getting a boost from
strong Q2 results.

In an otherwise weak market, select auto and cement shares edged higher.
Auto shares moved up after Ashok Leyland joined two firms, Bajaj Auto and
Hero Honda, in reporting strong Q2 results.

The 30-share BSE Sensex plunged 148.15 points or 1.8% to 7,920.80 its
lowest level in the past month-and-a-half (since 2 September 2005).

Market breadth was positive. However, breadth weakened substantially in the
latter part of the trading session. 1,328 stocks advanced on BSE as compared
to 1,112 stocks that declined. 43 scrips were unchanged. Gainers outpaced
losers by a ratio of 1.1:1.

Ranbaxy plunged 9.5% to Rs 352.50. The stock declined on high volume of 24.6
lakh shares on BSE. Ranbaxys net profit plunged 91% in Q3 September 2005 to
Rs 18.40 crore (Rs 200 crore). Its revenue fell 3% to Rs 1304 crore.

Sun Pharma lost 7% to Rs 600, Dr Reddys Laboratories lost 4% to Rs 804,
Divis Laboratories lost 5% to Rs 1,318, and Aurobindo Pharma shed 3.5% to
Rs 312.55.

Biotech major Biocon plunged 9% to Rs 480.55. 4.9 lakh shares changed hands
in the counter on BSE.

Tata Power shed 5.9% to Rs 406.15, Tisco lost 4% to Rs 352, ITC shed 3.7% to
Rs 116.75, MTNL shed 3.5% to Rs 116.50, and Wipro shed 3.5% to Rs 372.

Oil exploration major ONGC lost 3.4% to Rs 921.90. 3.09 lakh shares changed
hands in the counter on BSE.

State Bank of India shed 3.3% to Rs 857.25. 16.55 lakh shares changed hands
in the counter on BSE.

Software major Infosys shed 2.4% to Rs 2,493.15.

Ashok Leyland rose 3.3% to Rs 28.15 on the back of robust Q2 results. The
stock, however, came off the higher level in a weak market. The stock came
off the days peak of Rs 29.10. 23 lakh shares changed hands in the counter
on BSE. Ashok Leylands net profit jumped 74% in Q2 September 2005 to Rs
75.01 crore (Rs 43.06 crore). Net sales rose 36.6% to Rs 1,250.09 crore (Rs
914.76 crore).

Bajaj Auto rose 3.2% to Rs 1,795, and car major Maruti Udyog gained 2.2% to
Rs 570.05.

source:capitalmarket

Sensex down by more than 100 points

2005-10-24T02:52:00.000-07:00

The market weakened in mid-afternoon trade. Ranbaxy plunged and Infosys
weakened. State Bank of India failed to sustain the higher levels. The stock
had bounced back in early afternoon trade. HDFC Bank weakened in
mid-afternoon trade.

Though market breath was strong it weakened when compared to early afternoon
trade. 1,414 stocks advanced on BSE as compared to 983 stocks that declined.
41 scrips were unchanged. Gainers outpaced losers by a ratio of 1.4:1. The
breadth had improved to 1.7:1 at about 13:25 IST from 1.5:1 at about 12:20
IST.

At 14:30 IST, the Sensex was down 113 points at 7,956 close to the days
low of 7,944.59.

Ranbaxy plunged 8.5% to Rs 356. The stock declined on high volume of 16.7
lakh shares on BSE. The stock lost ground for the second day in a row after
the company reported a sharp fall in Q3 September 2005 net profit. Ranbaxys
net profit plunged 91% in Q3 September 2005 to Rs 18.40 crore (Rs 200
crore). Its revenue fell 3% to Rs 1304 crore.

Biotech major Biocon plunged 7% to Rs 492. 3.9 lakh shares changed hands in
the counter on BSE.

Infosys shed 1.1% to Rs 2,523, Reliance Industries lost nearly 1% to Rs
763.55 and State Bank of India shed 1.2% to Rs 875.

Tata Power lost 4% to Rs 414, Wirpo shed 3% to Rs 373, ITC shed 2.8% to Rs
117.80, Tisco shed 2.4% to Rs 358, FMCG major Hindustan Lever shed 2.3% to
Rs 167.50 and Bhel lost 2.5% to Rs 1,133.

ONGC shed 2% to Rs 934.50. 1.5 lakh shares changed hands in the counter on
BSE.

HDFC Bank lost 2.3% to Rs 632. 80.916 shares changed hands in the counter on
BSE. ICICI Bank shed 1.8% to Rs 497.70. 2.8 lakh shares changed hands in the
counter on BSE.

source: capital

Carborundum Universal jumped nearly 5% to Rs 115.30 on the back of strong Q2 September 2005 results

2005-10-24T01:43:00.000-07:00

The stock jumped 4.5% on Friday (21 October 2005) to Rs 110 in a firm market
on the eve of the results announcement.

Carborundum Universal has reported 60.6% growth in Q2 September 2005 net
profit to Rs 13.49 crore compared to Rs 8.40 crore in Q2 September 2004. Net
sales have risen 24.1% to Rs 93.37 crore (Rs 75.21 crore).

Carborundum Universal caters to a cross-section of industries such as
engineering, construction, automobile and fabrication. The company has a 30%
share in the Rs 200-crore domestic abrasive market.

The company, which exports abrasive products to the US, Australia and Europe
is now eyeing newer markets such as China and West Asia.

The company's ceramics division manufactures wear-resistant and heat-
resistant products in the form of industrial consumables and capital
consumables. This division caters to the power sector, cement industries,
coal washeries and also provides high temperature applications for the
ceramic, non-ferrous, iron and steel, fertiliser, carbon black and chemical
processing industries.

Elecon Engineering jumped 5% to Rs 671.40, the maximum permissible level of the day, on the back of robust Q2 results

2005-10-24T01:34:00.000-07:00

The stock had spurted ahead of the results announcement. From a low of Rs
597.35 on 19 October 2005, the stock rose 7% in two trading sessions to Rs
639.45 on Friday 21 October 2005.

Elecon Engineerings net profit has jumped 418% to Rs 5.75 crore in Q2
September 2005 from Rs 1.46 crore in Q2 September 2004. Top line growth has
led bottom line growth. Net sales have risen 43.3% to Rs 94.67 crore (Rs
66.06 crore).

Elecon Engineering is into the manufacture of bulk material handling
equipment and industrial gears. It is one of the largest industrial gear box
manufacturers in the country, with the widest range of products.

On the material handling front, the company's product range includes design,
engineering manufacture, supply, erection and commissioning of conveying
equipments, wagon tipplers & dust trapping equipment, reduction gears &
geared motors, wagon marshalling equipment, EOT cranes & goliath cranes and
specialised conveying equipment, stacker reclaimers, blender reclaimers,
rotary disc loaders etc.

Tata Coffee jumped 11.3% to Rs 332.50 after the company reported a surge in Q2 September 2005 net profit

2005-10-24T00:08:00.000-07:00

The strong Q2 results of Tata Coffee triggered expectation of strong Q2
results from CCL Products, which rose 4.3% to Rs 407.95. 2,204 shares
changed hands in the counter on BSE.

Tata Coffees net profit jumped 135.5% in Q2 September 2005 to Rs 6.62 crore
from Rs 2.54 crore in Q2 September 2004. Net sales rose 4.1% to Rs 52.83
crore (Rs 50.71 crore).

A leading exporter of coffee, Tata Coffee has targeted to reach the number
two position in the branded packaged filter coffee business through its
brand Mr Bean. This is to be done by significantly increasing its present
market share of 5% and inching closer to Brooke Bond's Bru Coffee, which
holds 29% of the current market share. Tata Coffee recently launched Tata Mr
Bean Coffee Junction (Coffee Junction), an outlet which blends retailing,
vending, and roasting and grounding of coffee under one roof, in Chennai.
The company hopes to open another 10 outlets in the city by 2005.

Tata Coffee is the largest integrated coffee company in Asia with a
production of 10 million kg of coffee from 7,000 hectares spread over 26
estates across Chickmagalur, Coorg, and Hassan in Karnataka.

Early volatility on bourses; Ranbaxy loses further ground

2005-10-23T23:01:00.000-07:00

After opening on a firm note, the Sensex soon lost ground and it slipped
into the red. Ranbaxy Laboratories dropped for the second day in a row after
the company reported a sharp fall in Q3 September 2005 net profit. Select
stocks edged higher on the back of strong Q2 results. Stocks like Ashok
Leyland, Shoppers Stop, and Jyoti Structures edged higher on the back of
strong Q2 results. UltraTech Cement dropped after it reported Q2 September
2005 results.

Auto shares firmed up. Gujarat Ambuja Cements (GACL) surged.

Market breadth was positive. 951 stocks advanced on BSE as compared to 636
stocks that declined. 38 scrips were unchanged. Gainers outpaced losers by a
ratio of 1.4:1.

At 10:19 IST, the Sensex was down 13 points to 8,055. The barometer index
moved 93.13 points in early trade, between a low of 8,033.14 and a high of
8,126.27.

Ranbaxy lost 3% to Rs 377. Ranbaxys net profit plunged 91% in Q3 September
2005 to Rs 18.40 crore (Rs 200 crore). Its revenue fell 3% to Rs 1304 crore.

Dr Reddys Laboratories shed 1.2% to Rs 829.

Housing finance major HDFC dropped for the second day in a row. The stock
shed 1.1% to Rs 914.

GACL rose nearly 3% to Rs 70.70. 1.6 lakh shares changed hands in the
counter on BSE.

Ashok Leyland jumped nearly 5% to Rs 28.50 boosted by strong Q2 September
2005 results. Ashok Leylands net profit jumped 74% in Q2 September 2005 to
Rs 75.01 crore (Rs 43.06 crore). Net sales rose 36.6% to Rs 1,250.09 crore
(Rs 914.76 crore).

Bajaj Auto advanced nearly 2% to Rs 1,774, car major Maruti Udyog gained
1.4% to Rs 565.70, and Tata Motors gained 0.78% to Rs 516.60.

Satyam Computer Services advanced for the third day in row on the back of
robust Q2 results and an upward revision in FY 2006 earnings and revenue
guidance. The stock gained 1.6% to Rs 603.70.

Index heavyweight Reliance Industries lost 0.7% to Rs 765. 4.3 lakh shares
changed hands in the counter on BSE.

source:capitalmarket

Jyoti Structures jumped 4.6% to Rs 272 on the back of robust Q2 September 2005 results

2005-10-23T22:48:00.000-07:00

3,418 shares changed hands in the counter on BSE by early trade.

The stock edged slightly higher to Rs 260.05 on Friday 21 October 2005 on
the eve of the results announcement from Rs 259.15 on 20 October 2005. A day
back i.e. on 20 October 2005, the stock had jumped 5.3% to Rs 259.15.

Jyoti Structures net profit jumped 255% to Rs 5.29 crore (Rs 1.49 crore).
Net sales rose 93.4% to Rs 158.49 crore (Rs 81.94 crore).

Jyoti Structures undertakes design, survey, manufacturing and supply of
transmission line towers, foundation, erection of towers, supply of bought
out items such as conductors, insulators and hardware accessories, stringing
of conductors, testing and commissioning of transmission lines.

Reliance Energy holds 20 lakh shares, or a 14.47% stake, in the company.

Ashok Leyland jumped nearly 5% to Rs 28.60 boosted by strong Q2 September 2005 results

2005-10-23T22:47:00.000-07:00

2.8 lakh shares changed hands in the counter on BSE.

Ashok Leylands net profit jumped 74% in Q2 September 2005 to Rs 75.01 crore
(Rs 43.06 crore). Net sales rose 36.6% to Rs 1,250.09 crore (Rs 914.76
crore).

Strong volume growth led to robust Q2 results.

Ashok Leylands total vehicle sales jumped 27.2% in the month of September
2005 to 5,875 units from 4,617 units in September 2004. Domestic sales rose
26.6% to 5,284 units from 4,173 and exports climbed 33% to 591 units.

Recently, Ashok Leyland disposed off its castings unit at Hyderabad, namely
Ductron Castings, to Ennore Foundries as a going concern.

The Week Ahead: Next batch of Q2 results to dictate the trend

2005-10-21T08:17:00.000-07:00

The next week marks a host of major events like RBIs credit policy on
Tuesday (25 October), expiry of October 2005 derivatives contracts on
Thursday (27 October) and a number of key Q2 results.

Volatility may remain high ahead of expiry of October derivatives contracts.

Market men expect RBI to raise the short-term reverse repo rate -- the
benchmark for short-term money market rates -- by 25 basis points to 5.25%.

Tata Motors and HDFC unveil Q2 results on 25 October. The major results for
26 October are ONGC, IPCL, Grasim, Tata Steel, M&M.

Reliance Industries reveals Q2 results on 27 October 2005. On the same day,
companies such as State Bank of India, NTPC, Gail, Cipla, Sail will release
their Q2 numbers. The next day i.e. on 28 October 2005 companies like Bhel,
ITC, National Aluminium, HPCL, L&T, Tata Tea, Indian Oil Corporation, BPCL,
are scheduled to report Q2 results.

The Q2 results announced so far have been a mixed bag. Software majors
Infosys, Satyam Computer and TCS have been impressive. Wipros results were
in line with market expectation. Bajaj Auto, Hero Honda, ICICI Bank, and
HDFC Bank have come up with strong performances.

The results of cement firms, ACC and Gujarat Ambuja Cements, were in
striking contrast (dismal) to the others. Ranbaxy reported a sharp fall in
Q3 September 2005 net profit.

Some of the other Q2 results due next week are LIC Housing Finance, Canara
Bank, Dabur India, VSNL, ABB, HCL Technologies, Tata Chemicals, Nirma,
Andhra Bank, Gokaldas Exports, Indo Gulf Fertilizers, Birla Corp, Whirlpool
India, Rajesh Exports, Zodiac Clothing, Natco Pharma, Simplex Casting, Guj.
Mineral Dev, Vijaya Bank, CEAT, United Phosp, Birla Kennametal, J B Chem &
Pharma, PTC India, ICI (India), Century Textiles.

source: capitalmarket

The Last Week in Stock Market: Sensex sheds 133 points; volatility to the fore

2005-10-21T07:39:00.000-07:00

The market lost ground in volatile trade last week due to alternate bouts ofbuying and selling.
The Sensex ended flat on Monday (17 October 2005) amid divergent trends inSensex constituents. On Tuesday (18 October), the Sensex lost 80 pointsafter swinging 249 points in intra-day trade. The barometer index plunged151 points on Wednesday (19 October) tracking weakness across globalemerging markets caused by fears of a hike in US interest rates. On Thursday(20 October), the Sensex lost 36 points after swinging nearly 300 points inintra-day trade.
On Friday (21 October), the market staged a rebound boosted by thegovernments reform-friendly measure on Thursday to increase FDI ceiling inthe telecom sector to 74% from 49%. Market sentiment turned upbeat afterFinance Minister P Chidambaram said on Friday that the government wascommitted to maintaining moderate tax rates to propel growth. The Indianrupee is still strong despite its recent fall against the dollar, and theeconomy will continue to attract robust foreign institutional investment,Chidambaram added. The market was also boosted on Friday by news thatforeign direct investment into India rose 20 percent in the April-Augustperiod.
For the week ended 21 October 2005, the Sensex lost 132.78 points or 1.6% tosettle at 8,068.95. The S&P CNX Nifty shed 40.65 points or 1.6% to 2,443.75.
FIIs have resorted to profit taking on the bourses. In the month of October2005, FIIs have sold shares worth a net Rs 1,427.20 crore (till 19 October2005).
Meanwhile, inflation concerns in the United States have cast uncertaintyover global emerging markets including India. Higher US interest rates meanless foreign capital enters high-yielding but riskier emerging markets.
The Q2 results announced so far have been a mixed bag. Software majorsInfosys, Satyam Computer and TCS have been impressive. Wipros results werein line with market expectation. Bajaj Auto, Hero Honda, ICICI Bank, andHDFC Bank have come up with strong performances.
The results of cement firms, ACC and Gujarat Ambuja Cements, were instriking contrast (dismal) to the others. Ranbaxy reported a sharp fall inQ3 September 2005 net profit.
Volatility may characterise trading in the near term ahead of the expiry ofOctober 2005 derivatives contracts on 27 October 2005.
Suzlon Energy sizzled on its debut on 19 October 2005. The stock settled atRs 690.50 on that day - attracting 35.3% premium over the IPO price of Rs510.
Gujarat Ambuja Cements (GACL) recovered from the lower level even as thecompany reported dismal Q1 September 2005 results. GACL has reported a 16.7%fall in Q1 September 2005 net profit to Rs 75.28 crore from Rs 90.46 crorein Q1 September 2004. Net sales rose 9.2% to Rs 654.88 crore (Rs 599.38crore). The core operating profit margin declined to 26% from 27.9% in Q1September 2004.
Hero Honda bounced back after the company reported strong Q2 results. HeroHonda's net profit spiraled up 23% in Q2 September 2005 to Rs 238 crore (Rs194 crore). Total turnover (net of excise) rose 22.8% to Rs 2209.36 crorefrom Rs 1798.23 crore, on the back of strong volume growth.
Satyam Computer rebounded after the company reported strong Q2 results andrevised upwards its FY 2006 EPS and revenue guidance.
Satyams consolidated net profit as per Indian GAAP jumped 34% to Rs 237.33crore from Rs 176.86 crore in Q2 September 2004. Net sales rose 33.9% to Rs1,154.96 crore from Rs 862.08 crore. The rise in net profit was partly dueto a surge in other income by 31.6% to Rs 31.55 crore from Rs 23.97 crore.Both net profit and sales have beaten market expectations.
Satyam Computer expects EPS for FY 2006 at between Rs 29.12 and Rs 29.23,implying a growth rate of 30.0% to 30.5%. At the time of announcing Q1 June2005 results, Satyam had forecast an EPS of Rs 27.22 and Rs 27.44 for FY2006, which indicates a growth rate of 21.5%-22.5%.
The company expects revenue as per consolidated Indian GAAP financials to bebetween Rs 4,700 crore and Rs 4,718 crore. This implies a growth rate of33.5% to 34.0%. At the time of announcing Q1 June 2005 results, Satyam hadforecast FY 2006 revenue at between Rs 4,536 and Rs 4,569 crore, which pegsannual growth rate at 29%-30%.
Wipros consolidated net profit as per Indian GAAP rose 16% to Rs 478 crore(Rs 411.70 crore). Net profit growth was in line with market expectation.Wipros revenue from the global IT services & products business rose 26% toRs 1,894.80 crore (Rs 1,502 crore). The growth in revenue of the global ITservices & products business beat market expectations.
Wipro expects revenue of global IT services business at $ 463 million for Q3December 2005 a sequential growth of 7.4% compared to a revenue of $430.7million in Q2 September 2005.
Ranbaxys net profit plunged 91% in Q3 September 2005 to Rs 18.40 crore (Rs200 crore). Its revenue fell 3% to Rs 1304 crore.
source:capitalmarket

Rallis India jumped 17% to Rs 341.45 after the company reported a surge in Q2 September 2005 net profit

2005-10-21T02:54:00.000-07:00

Rallis Indias net profit jumped 100% to Rs 28.17 crore in Q2 September 2005
compared to Rs 14.08 crore in Q2 September 2004. The sharp surge in net
profit was due to a surge in other income to Rs 13.56 crore from Rs 5.28
crore. Net sales growth was a decent 22% to Rs 207.90 crore (Rs 170.31
crore).

The other income of Rs 13.56 crore in Q2 September 2005 included Rs 10.66
crore on profit on sale of business, the company said.

The company said it has set aside Rs 6 crore as provision for contingency
for possible reduction in value of the current assets pending reviewal of
the realizable value of its current assets. The provision will be adjusted
on completion of this exercise, it said.

Rallis India is one of the leading agrochemicals manufacturers.

Market firms up; Tata Power spurts

2005-10-21T02:15:00.000-07:00

The market firmed up in mid-afternoon trade. Tata Power, VSNL and Gail India
surged. Ranbaxy recovered from the lower level. Car major Maruti Udyog
firmed up. ONGC gained on reports that the company is chasing new
opportunities to acquire petroleum assets in Kazakhstan after failing in its
bid to buy PetroKazakh assets.

State Bank of India moved higher on reports that it has approved a proposal
to raise Rs 3,300 crore through domestic and international bonds.

Select side counters surged with some of the stocks getting a boost from
strong Q2 numbers.

Stocks like Rallis India, Surya Roshni, Adlabs Films, Sterling Biotech,
Torrent Power SEC, Indo Rama Synthetics, Chemplast Sanmar, Maharashtra
Seamless, McDowell, Titan Industries, Jindal SAW, Ballarpur Industries, Alok
Industries, 3M India, Godrej Consumer Products, Hinduja TMT, Ucal Fuel,
GSFC, Sona Koyo Steering, Torrent Pharma, and Motherson Sumi Systems, edged
higher.

At 14:22 IST, the Sensex was up 72 points at 8,007.

After opening on a firm note, the market soon slipped into the red in early
trade. It staged a solid rebound in mid-morning trade. By afternoon trade,
the Sensex pared gains. It recovered from the lower level in mid-afternoon
trade.

The volatility in the Sensex was to some extent due to divergent trends in
Sensex constituents as well as partly due to volatile movements in some
Sensex constituents. The Sensex moved in a range of 125.46 points between
7,901.14 and 8,026.61.

Tata Power jumped 6% to Rs 423.70 boosted by media reports that the company
plans to invest Rs 10,000 crore to Rs 15,000 crore in mainly coal-fired
power projects over the next five years. 5.2 lakh shares changed ands in the
counter on BSE.

Cellular services major Bharti Tele-Ventures (BTL) advanced 4.4% to Rs
327.50 and VSNL jumped 5.2% to Rs 313.60 after the government hiked FDI
ceiling in the telecom sector to 74% from 49%.

Wipro gained 3% to Rs 380, ITC advanced 2.8% to Rs 119.70, Maruti Udyog
gained 2.7% to Rs 549, Tisco gained 2.6% to Rs 366.70, Reliance Energy
gained 1.7% to Rs 532 and ICICI Bank rose 1.4% to Rs 504.

Ranbaxy gained 1.1% to Rs 406.90. The stock bounced back from a low of Rs
392.70. Volumes in the scrip were high at 7.4 lakh shares on BSE. Ranbaxy
unveils Q3 results today

Hero Honda advanced for the second day in a row on the back of impressive Q2
numbers. The scrip gained nearly 3% to Rs 719. Hero Honda's net profit
spiraled up 23% in Q2 September 2005 to Rs 238 crore (Rs 194 crore). Total
turnover (net of excise) rose 22.8% to Rs 2,209.36 crore from Rs 1,798.23
crore, on the back of strong volume growth.

Reliance Industries (RIL) held firm as the companys EGM was on in Mumbai to
approve a demerger of its interests in coal, gas, telecommunications and
financial services into four companies. The stock rose 1.7% to Rs 761.50.
Volumes in the scrip were at 38.2 lakh shares on BSE.

source:capitalmarket

Range bound market

2005-10-21T02:04:00.000-07:00

The market was range bound in early afternoon trade. Index heavyweight
Reliance Industries (RIL) recovered from the lower level, even as the
companys EGM was on in Mumbai to approve a demerger of its interests in
coal, gas, telecommunications and financial services into four companies.

ACC and Ranbaxy weakened. State Bank of India came off the higher level.

Hero Honda held firm on the back of strong Q2 results.

The market breadth remained weak. 1,788 stocks declined on BSE as compared
to 557 stocks that rose. 45 scrips were unchanged. Losers outpaced gainers
by ratio of 3.2:1.

At 13:26 IST, the Sensex was up 25 points at 7,959.

After opening on a firm note, the market soon slipped into the red in early
trade. It staged a solid rebound in mid-morning trade. By afternoon trade,
the Sensex had pared gains. The volatility in the Sensex was to some extent
due to divergent trends in Sensex constituents as well as partly due to
volatile movements in some Sensex constituents. The Sensex moved in a range
of 125.46 points between 7,901.14 and 8,026.61.

RIL rose 1.4% to Rs 758.40. The stock had slipped to the Rs 754 level in
early afternoon trade. Volumes in the scrip were at 35.6 lakh shares on BSE.

Cellular services major Bharti Tele-Ventures (BTL) advanced 3.6% to Rs
324.95 after the government hiked FDI ceiling in the telecom sector to 74%
from 49%. International telephony major VSNL gained 2.4% to Rs 305.

Tata Power surged 4% to Rs 416 boosted by media reports that the company
plans to invest Rs 10,000 crore to Rs 15,000 crore in mainly coal-fired
power projects over the next five years. 3.2 lakh shares changed hands in
the counter on BSE.

Ranbaxy lost 1.1% to Rs 397 ahead of announcement of Q3 September 2005
results. 4.3 lakh shares changed hands in the counter on BSE. Ranbaxy
unveils Q3 results today

Hero Honda advanced for the second day in a row on the back of impressive Q2
numbers. The scrip gained 1.7% to Rs 711. Hero Honda's net profit spiraled
up 23% in Q2 September 2005 to Rs 238 crore (Rs 194 crore). Total turnover
(net of excise) rose 22.8% to Rs 2,209.36 crore from Rs 1,798.23 crore, on
the back of strong volume growth.

Gujarat Ambuja Cements gained 1.9% to Rs 68, Wipro rose 1.9% to Rs 376,
Tisco gained 1.6% to Rs 364.55, and Maruti Udyog gained 1.5% to Rs 543.

source:capitalmarket

Flex Industries lost nearly 3% to Rs 75 after the company reported dismal Q2 September 2005 results

2005-10-21T01:58:00.000-07:00

1.3 lakh shares changed hands in the counter on BSE.

Flex Industries reported a 14.5% fall in Q2 September 2005 net profit to Rs
9.01 crore compared to Rs 10.57 crore in Q2 September 2004. Net sales rose
7.7% to Rs 249.70 crore (Rs 231.66 crore).

Flex Industries manufactures flexible packaging material.

Supreme Petrochem plunged 7.6% to Rs 28.40 hit by a sharp fall in Q1 September 2005 net profit

2005-10-21T01:47:00.000-07:00

The net profit declined sharply by 61.5% to Rs 5.02 crore in Q1 September
2005 from Rs 13.06 crore in Q1 September 2004. Net sales was flat at Rs
310.24 crore compared to Rs 309.23 crore in Q1 September 2004.

The company said the Q1 September 2005 performance was dampened due to shut
down of relevant production lines for hookup for revamped plant.

Supreme Petrochem Ltd (SPL) is the leading manufacturer of polystyrene.
Polystyrene is mainly consumed in consumer electronics, white goods and
domestic appliances, packaging, food serviceware, household wares,
stationery, toys, films for food packaging etc.

Rama Newsprint And Papers plunged 16.6% to Rs 10.28 after the company reported a net loss in Q2 September 2005

2005-10-21T01:43:00.000-07:00

Rama Newsprint And Papers has reported a net loss of Rs 3.11 crore for Q2
September 2005 as against a net profit of Rs 10.81 crore in Q2 September
2004. Last years base was inflated due to a credit of Rs 16.27 crore under
the head `interest and lease rent.

Net sales jumped 40% to Rs 92.04 crore from Rs 65.68 crore.

The company said power and fuel costs will come down in the coming years as
the government has granted the company coal linkage for power generation
from September 2005.

Meanwhile, the companys board of directors has approved cancellation of 75%
of existing equity capital of Rs 232.63 crore to Rs 58.15 crore.

News broadcasters NDTV and TV Today Network edged higher on hopes of FII buying in the two stocks

2005-10-21T00:31:00.000-07:00

The Union Cabinet on Thursday (20 October 2005) approved the inclusion of
foreign portfolio investment in domestic television news channels within the
existing 26 percent limit on foreign holding of companies in the sector.
Uptill now, only FDI was allowed in newsbroadcasting channels (FIIs were not
permitted to invest).

TV Today Network rose 2.5% to Rs 77.50 and New Delhi Television (NDTV)
gained nearly 2% to Rs 160.25. 35,633 shares changed hands in TV Today
Network and 94,466 shares got traded in NDTV.

For Q2 September 2005, TV Today Network reported a net profit of Rs 2.37
crore as compared to a net loss of Rs 1.12 crore in Q2 September 2004. Net
sales rose 17.4% to Rs 31.45 crore (Rs 26.77 crore).

NDTV slipped into the red in Q2 September 2005 with a net loss of Rs 6.59
crore (on a consolidated basis) compared to a net profit of Rs 2.81 crore in
Q2 September 2004. Consolidated income from operations rose 20.8% to Rs
42.20 crore from Rs 34.93 crore.

The company attributed the poor results to the Rs 7.45-crore it made towards
stock option payments. The stock option of 40.57 lakh shares are to be
amortized over a period of four years. The company also said that its
operational expenses have gone up on account of higher salary payments.

NDTV recently said it is in the process of planning for a general
entertainment channel.

Sensex closes 36 pts down after 297 pts swing

2005-10-20T08:18:00.001-07:00

Markets lost further ground on Thursday and the BSE Sensex closed below 7950
level after an intra-day swing of almost 297 points.

The BSE Sensex closed 35.94 points down at 7,935.12, after hitting an
intraday low of 7,838.02.

The NSE Nifty closed 17.00 points down at 2,395.45 after hitting an intraday
low of 2,363.55.

The markets opened today on a firm note on the back of positive global cues,
which provided enough reason for market participants to take advantage of
the near 10% correction over the last couple of weeks and do some bottom
fishing. However, bears slowly and steadily increased their might as the
trading day progressed

The BSE Sensex gained more than 160 points after opening 104.76 points up at
8,075.82. The NSE Nifty also moved up sharply after opening 8.95 points up
at 2,421.40.

There was intense selling pressure witnessed in non-large-cap stocks today,
as is evident from the losses in the BSE Mid-cap and small-cap indices of 2%
and 3% respectively. The market breadth today was totally in favour of the
losers, as they outnumbered the gainers in the ratio of 6:1 on the BSE.

Some small- and mid-cap stocks were boosted due to strong Q2 results. Stocks
like KPIT Cummins Infosystems, Fag Bearings, CRISIL, Thirumalai Chemicals,
Allsec Technologies, and Infotech Enterprises, made headway on the back of
strong Q2 results

Among the Sensex stocks 12 stocks ended on the positive side as compared to
18 stocks which ended in red. Major gainers on the BSE include Satyam (up
5%), Reliance energy (up 3.2%), Gujarat Ambuja (up 1.5%), TCS Ltd (up 1.4%)
and Infosys (up 1.3%). Major losers included Tata Power (down 5.4%), ITC
(down 4%), Ranbaxy (down 3.4%), BHEL (down 3.3%) and Hindalco (down 3.3%).

JK Tyres to expand Mysore facility

2005-10-20T08:18:00.000-07:00

Tyre manufacturer JK Industries plans to expand its Mysore facility to
quadraple its production of bus and truck radials there to 15 lakh tyres per
annum in five years by investing Rs 180 crore, a senior company executive
said on Thursday.

The company's General Manager, Sales & Marketing, Vikram Malhotra, told
reporters here that it would invest Rs 60 crore in alternate year to scale
up the capacity from the current 3.7 lakh tyre per annum in Mysore by
September 2010.

The company which manufacturers tyre brands JK Tyre and Vikrant, plans to
set up ten more tyre care centres in the country, taking the total number to
27 by March/April next year, Malhotra added.

He said JK Industries, the flagship company of the JK Group, also proposed
to manufacture tyre for light commercial vehicles at its Mysore facility.

According to Malhotra, prices of bus and truck radials are likely to go up
by 2-3 per cent next month due to rise in input costs. JK Industries claims
an 85 per cent marketshare in the bus/truck radial segment in the country.

Hero Honda rose 1.6% to Rs 699 in volatile late trading on the back of strong Q2 results

2005-10-20T05:32:00.001-07:00

1.3 lakh shares changed hands in the counter on BSE.

The stock has witnessed high volatility recently due to alternate bouts of
buying and selling.

Taking cue from robust Q2 results from Bajaj Auto, Hero Honda scrip rose
nearly 4% in two trading sessions between 17 October 2005 and 18 October
2005 to Rs 716.55 from its close of Rs 689.05 on 14 October. On 19 October
2005, the scrip lost 4% in a single trading session in a weak market to Rs
687.75.

Hero Honda's net profit spiraled up 23% in Q2 September 2005 to Rs 238 crore
(Rs 194 crore). Total turnover (net of excise) rose 22.8% to Rs 2209.36
crore from Rs 1798.23 crore, on the back of strong volume growth. The
results hit the market at the fag end of the trading session.

Hero Honda posted a 21% growth in motorcycle sales in Q2 September 2005 on
the back of strong rural sales and a good response to its newly launched
125cc motorcycles Glamour.

CRISIL surges on robust Q2 results

2005-10-20T05:32:00.000-07:00

CRISIL jumped 5% to Rs 1,310 on the back of a surge in Q2 September 2005 net
profit.

3,906 shares changed hands in the counter on BSE.

Ahead of the results announcement, the scrip lost 2.4% on Wednesday (19
October 2005) in a weak market to Rs 1,247.65.

CRISILs consolidated net profit has jumped 163.7% in Q2 September 2005 to
Rs 14.11 crore from Rs 5.35 crore in Q2 September 2004. Top line growth has
led bottom line growth. Consolidated income from operations has risen 74.3%
to Rs 51.52 crore from Rs 29.55 crore.

CRISIL has become a subsidiary of global rating agency S&P after S&P made an
open offer to acquire control over the company.

Sensex flops from earlier highs

2005-10-20T00:31:00.000-07:00

The market moved down from the higher level in early afternoon trade. Stocks
like HDFC, Cipla, and Grasim Industries moved downward. Tata Motors lost
major ground from the higher levels. State Bank of India, Bhel, ITC, Tata
Power, Hindalco Industries, and Bajaj Auto slipped into the red.

Stocks like Ranbaxy, Reliance Industries, Bharti Tele-Ventures, Tisco, ACC,
and ONGC shrugged off the higher level.

Market breadth turned negative. 1,390 stocks declined on BSE as compared to
926 stocks that rose. 42 scrips remained unchanged. Losers outpaced gainers
by a ratio of 1.5:1. In morning trade, the breadth was strong with more than
one gainer for every loser.

Stocks like Wockhardt, Galaxy Entertainment, Hind Rectifiers, Champagne
Indage, Astra Microwave Products, Hindustan Organic Chemicals, Shree Rama
Multi-Tech, NDTV, Sutlej Industries, WPIL, Lakshmi Precision Screws, Jet
Airways, Godavari Fertilizers, SRF, Raasi Refractories, Igarshi Motors, SKS
Ship, Andhra Cement, Vibra Automotive, Panjon, Liberty Shoes, Asian
Electronics, Reliance Industrial Infrastructure, and Patel Roadways were in
the negative.

At 12:12 IST, the Sensex was up 39 points at 8,010. The Sensex came sharply
off the days high of 8,134.84.

The Sensex had marched up over 150 points within minutes of commencement of
trading, taking cue from the recovery across global markets. It came off the
higher level later.

Housing finance major HDFC lost 3% to Rs 945.10, Grasim shed 2.3% to Rs
1,121, and Cipla shed 1.9% to Rs 375.

SBI lost 0.2% to Rs 887 and ITC shed 0.7% to Rs 119.70.

Reliance Industries was up 0.3% to Rs 750.60 off the days high of Rs
761.80. 9.2 lakh shares changed hands in the counter on BSE.

Ranbaxy was flat at Rs 411. The stock came off the days high of Rs 423. 2.6
lakh shares changed hands in the counter on BSE. Ranbaxy said on Wednesday
that trials showed that a malaria treatment drug it was developing jointly
with the Geneva-based Medicines for Malaria Venture reduced the malarial
parasite count.

Satyam Computer surged 5.4% to Rs 587.70 after the company reported strong
Q2 results and revised upwards its FY 2006 EPS and revenue guidance. 23.8
lakh shares changed hands in the counter on BSE.

Satyams consolidated net profit as per Indian GAAP climbed 34% to Rs 237.33
crore from Rs 176.86 crore in Q2 September 2004. Net sales rose 33.9% to Rs
1,154.96 crore from Rs 862.08 crore. The rise in net profit was partly due
to a surge in other income by 31.6% to Rs 31.55 crore from Rs 23.97 crore.
Both net profit and sales have beaten market expectations.

Satyam Computer expects EPS for FY 2006 at between Rs 29.12 and Rs 29.23,
implying a growth rate of 30.0% to 30.5%. The company expects revenue as per
consolidated Indian GAAP financials to be between Rs 4,700 crore and Rs
4,718 crore, implying a growth rate of 33.5% to 34.0%.

Hero Honda rose on expectation of strong Q2 results. The scrip gained 1.3%
to Rs 697. The stock has witnessed high volatility in the past few days due
to alternate bouts of buying and selling. Hero Honda unveils Q2 results
today.

source:capitalmarket

Shanthi Gears plummeted 4% to Rs 53 following a muted bottom line growth for Q2

2005-10-20T00:29:00.000-07:00

73,727 shares changed hands in the counter on BSE.

The company reported a 9% growth in Q2 September 2005 net profit to Rs 4.80
crore from Rs 4.40 crore in Q2 September 2004. Net sales rose 29.9% to Rs
35.67 crore from Rs 27.44 crore. Operating profit margin declined to 34.51%
from 36.6% in Q2 September 2004.

On a sequential basis, net profit declined 13.9% from Rs 5.58 crore in Q1
June 2005. The tax provision was lower at Rs 1.81 crore in Q1 June 2005
which was why there was a drop in net profit on a sequential basis in Q2
September 2005. The tax provision in Q2 September 2005 was at Rs 3.63 crore.
Sales rose 5.9% on a sequential basis from Rs 33.68 crore in Q1 June 2005

Shanthi Gears manufactures a wide range of power transmission products,
including gears, gear boxes, geared motors and gear assemblies, both
standard and custom-made. Nearly 50% of the company's business involves
special orders. The company also exports to the US, the UK, the UAE, and
Germany.

Ranbaxy recovers

2005-10-19T23:27:00.000-07:00

Battered Ranbaxy Laboratories rose 1% to Rs 415 after the company said
trials showed that a malaria treatment it was developing jointly with the
Geneva-based Medicines for Malaria Venture reduced the malarial parasite
count.

1.9 lakh shares changed hands in the counter on BSE.

Ranbaxy shares had tumbled nearly 16% in the past five trading sessions to
Rs 410.90 on 19 October 2005 from Rs 489.15 on 11 October 2005 after the UK
High Court dismissed its legal challenge to protecting Pfizers patent of
Lipitor.

Ranbaxy said on Wednesday that proof-of-concept Phase II studies for the
molecule called RBx11160, a synthetic peroxide anti-malarial drug, had been
completed successfully and that findings indicated it was safe and effective
in reducing the parasite count.

The partners have decided to take the drug forward to Phase II dose-range
studies, which will be conducted in India, Thailand and Africa, Ranbaxy said
in a statement. Ranbaxy is hopeful the new drug will both reduce the
treatment period and cost less than current artemesinin derivatives.

Automobile Corporation of Goa gained 5% to Rs 356 after the company reported decent Q2 results

2005-10-19T23:26:00.000-07:00

1,585 shares changed hands in the counter on BSE.

The stock plunged 7.7% on Wednesday (19 October 2005) to Rs 338.90 ahead of
the results announcement.

Automobile Corporation of Goa has reported a 30.4% growth in Q2 September
2005 net profit to Rs 2.96 crore compared to Rs 2.27 crore in Q2 September
2004. Net sales have jumped 88.9% to Rs 58.79 crore from Rs 31.12 crore.

On a sequential basis, net profit has risen 44.3% from Rs 2.05 crore in Q1
June 2005. Sales have risen 31.1% from Rs 44.84 crore in Q1 June 2005.

Jointly promoted by the Economic Development Corporation of Goa (EDC) and
Tata Motors, the Automobile Corporation of Goa, is a major supplier of
pressed parts and bus bodies to Tata Motors. The company's business is
essentially outfitting the chassis manufactured by Tata Motors. Automobile
Corporation of Goa (ACGL) executes a process that converts these chassis
into completed trucks or buses.

Thirumalai Chemicals jumped 10% to Rs 168.55, the maximum permissible level of the day, on the back of a surge in Q2 September 2005 net profit

2005-10-19T23:24:00.000-07:00

Ahead of the results, the stock plunged 5.4% on Wednesday (19 October 2005)
to Rs 153.25. Earlier, the stock had spurted mid-September 2005. It had
turned volatile later.

Thirumalai Chemicalss net profit jumped 70% to Rs 8.32 crore (Rs 4.89
crore). Net sales rose 9.9% to Rs 122.62 crore (Rs 111.55 crore).

Thirumalai Chemicals is a leading manufacturer of Phythylic Anhydride (PAN).
PAN is a downstream product derived from Orthoxylene. It is used mainly in
plasticisers, followed by alkyd resins and then dyes.

The companys business model is derisked with the forward integration of the
company into maleic anhydride (MAN) and food acids, which are less prone to
cyclical price fluctuations which happens in case of PAN.

The company is looking at inorganic growth opportunities to become a
dominant player in PAN and other downstream value-added products.

Reliance Energy put on 2.5% to Rs 523.50 after it reported vibrant Q2 results on Wednesday

2005-10-19T23:20:00.000-07:00

The stock moved lower by 2.5% to Rs 510.65 on Wednesday (19 October 2005)
ahead of the announcement.

Reliance Energy (REL) has reported a 24.5% growth in Q2 September 2005 net
profit to Rs 159.57 crore (Rs 128.13 crore). Total income leaped up 32% to
Rs 1,161.36 crore (Rs 878.55 crore) on the back of higher income from
engineering contracts and improved sales in electrical energy.

In Q2 September 2005, RELs equity capital went up to Rs 201.90 crore from
Rs 195.40 crore, following the conversion of warrants and foreign currency
convertible bonds. REL had allotted 41.8 lakh equity shares to FIIs and a
corporate entity on a preferential basis. It also allotted 1.1 lakh shares
on conversion of warrants and converted FCCBs into 22.8 lakh equity shares.

Satyam Computer surges on upward revision in EPS, revenue guidance

2005-10-19T23:17:00.000-07:00

Satyam Computer jumped 4% to Rs 580.50 after the company reported strong Q2
results and revised upwards its FY 2006 EPS and revenue guidance.

3.1 lakh shares changed hands in the counter on BSE.

The stock gained 0.89% on Wednesday (19 October 2005) to Rs 557.45 in
volatile trade ahead of the results announcement.

As in the case of the three other IT majors, TCS, Infosys and Wipro, Satyam
Computer has reported impressive Q2 results on the back of strong volume
growth due to robust outsourcing demand.

Like Infosys, Saytam has also revised upwards EPS and revenue guidance for
FY 2006.

Satyams consolidated net profit as per Indian GAAP jumped 34% to Rs 237.33
crore from Rs 176.86 crore in Q2 September 2004. Net sales rose 33.9% to Rs
1,154.96 crore from Rs 862.08 crore. The rise in net profit was partly due
to a surge in other income by 31.6% to Rs 31.55 crore from Rs 23.97 crore.
Both net profit and sales have beaten market expectations.

Satyam Computer expects EPS for FY 2006 at between Rs 29.12 and Rs 29.23,
implying a growth rate of 30.0% to 30.5%. At the time of announcing Q1 June
2005 results, Satyam had forecast EPS of Rs 27.22 and Rs 27.44 for FY 2006,
which indicates a growth rate of 21.5%-22.5%.

The company expects revenue as per consolidated Indian GAAP financials to be
between Rs 4,700 crore and Rs 4,718 crore. This implies a growth rate of
33.5% to 34.0%. At the time of announcing Q1 June 2005 results, Satyam had
forecast FY 2006 revenue at between Rs 4,536 and Rs 4,569 crore, which pegs
annual growth rate at 29%-30%.

Satyam added 1,977 associates during the quarter. It added 32 customers,
including some marquee names from the airline, engineering and the retail
industries, the company said.

Sensex fails to sustain higher level; market breadth quite weak

2005-10-19T00:45:00.000-07:00

The market failed to sustain the higher level. Satyam Computer firmed up on
expectations of strong Q2 results. Tisco, Reliance Industries, and Ranbaxy
Laboratories came off the higher level. ACC bounced back from the lower
level.

Suzlon Energy held firm. The stock was trading at Rs 655 - a 28.4% premium
over the IPO price of Rs 510. Volumes in the stock were a huge 66.3 lakh
shares on BSE.

Select side counters edged higher. Stocks like Revathi Equipment, TRF, India
Gelatine, Biopac India, Rishi Laser Cutting, Punjab Communications, Majestic
Auto, Max India, Taj GVK Hotels, Dabur India, Malwa Cotton, PNB Gilts, Tata
Teleservices (Maharashtra), Reliance Capital, Raymond, GE Shipping, i-flex
solutions, Alstom, Scandent Solutions, and Bharat Forge edged higher.

A host of small- and mid-cap stocks lost ground. Stocks like Bombay Dyeing,
Jindal SAW, Indo Gulf Fertilizers, Sunflag Iron & Steel, Mukta Arts,
Padmalaya Telefilms, Mukand, Wimco, Pantaloon Retail, Neyveli Lignite, Essar
Shipping, Hotel Leelaventure, Motherson Sumi Systems, Essar Oil, and CEAT
edged lower.

Market breadth remained quite weak. 2,011 stocks declined on BSE as compared
to 268 stocks that rose. 30 scrips were unchanged. Losers outpaced gainers
by a ratio of 7.5:1.

At 12:17 IST, the Sensex was down 110 points at 8,011. It came off the days
high of 8,084.79.

The market opened on a subdued note and the Sensex plunged 150 points by
early trade taking cue from the weakness across global markets. It recovered
from the lower level in mid-morning trade.

The rupee dropped to fresh 11-month lows today, adding to concerns that the
firmer dollar and signs of higher US rates would stem the flow of foreign
funds into India.

Satyam Computer gained 1.6% to Rs 561.80 on expectation of strong Q2
results. Satyam Computer announces Q2 results today. 15.5 lakh shares
changed hands in the counter on BSE.

The strong listing of Suzlon Energy triggered a recovery in power equipment
major Bhel. The stock rose 0.3% to Rs 1,176.

NTPC gained 1.2% to Rs 100.15. 7.5 lakh shares changed hands in the counter
on BSE

Cement major ACC rose 0.3% to Rs 449.25. The stock came off the days low of
Rs 442. 86,150 shares changed hands in the counter on BSE.

But Gujarat Ambuja Cements (GACL) (down 1.6% to Rs 65.20) remained weak
ahead of the announcement of Q1 September 2005 results. GACL announces Q1
results today. 4.4 lakh shares changed hands in the counter on BSE.

Wipro (down 0.2% to Rs 372.50) failed to sustain the higher level. Wipros
consolidated net profit, as per Indian GAAP, rose 16% to Rs 478 crore (Rs
411.70 crore). Net profit growth was in line with market expectations. Wipro
s revenue from the global IT services & products business rose 26% to Rs
1,894.80 crore (Rs 1,502 crore). The growth in revenue of the global IT
services & products business beat market expectations.

The company expects revenue from the global IT services business at $ 463
million for Q3 December 2005 a sequential growth of 7.4% compared to a
revenue of $430.7 million in Q2 September 2005.

Dr Reddys Laboratories plunged 4% to Rs 820, ONGC lost 3.9% to Rs 943.50,
Hero Honda shed 3.9% to Rs 688, ITC shed 1.8% to Rs 122.30, and Grasim lost
1.9% to Rs 1,148.

Pidilites net profit rose 43.7% growth in Q2 September 2005 to Rs 26.07
crore (Rs 18.15 crore). Net sales rose 16.2% to Rs 232.16 crore (Rs 199.65
crore)

Deccan Chronicle Holdings plunged 6.6% to Rs 261.20 even as the company
reported a surge in Q2 September 2005 net profit. The Q2 net profit jumped
51% to Rs 10.62 crore (Rs 7.03 crore). Net sales rose 90.7% to Rs 76.09
crore (Rs 39.88 crore)

source:capitalmarket

High volatility as Sensex swings 249 points

2005-10-18T09:27:00.000-07:00

Concerns that FII inflow may slowdown due to expectation of increase in US
interest rates and due to falling rupee, pulled the market down further in a
highly volatile trade today. The rupee fell to an 11-month low of 45 against
the dollar.

The 30-share BSE Sensex lost 80.37 points or 98% to 8,122.25 its lowest
level in more than one month since 9 September 2005. The S&P CNX Nifty shed
16.95 points or 0.68% to 2,468.20

The market witnessed a sell-off towards the last half an hour of trade and
the Sensex plunged as much as 134.71 points to hit a low of 8,067.91 at the
fag end of the trading session.

The market opened on a firm note and the Sensex surged over 100 points at
one point of time in early trade. The Sensex came off the higher later. For
the day, the barometer index swung 249.47 points between a low of 8,067.91
and a high of 8,317.38.

BSE clocked a turnover of Rs 2,761 crore, slightly higher than Mondays Rs
2,740 crore.

The market breadth turned quite weak in the latter part of the trading
session. 1,621 stocks declined on BSE as compared to 773 stocks that rose.
42 scrips were unchanged. Losers outpaced gainers by a ratio of 2:1.

The latest data released by Sebi showed that FIIs sold shares worth a net Rs
299.10 crore on Monday (17 October 2005) the day when the Sensex ended
flat amid divergent trend in Sensex constituents. In the month of October
2005, FIIs have sold shares worth a net Rs 1,006.70 crore (till 17 October
2005). Global emerging markets have witnessed outflow of funds in the past
few days on expectation of increase in US interest rates. A lot of money had
flowed to global emerging markets over the past two years or so due to low
yields in US and Europe. Higher US rates means less foreign capital enters
higher-yielding but riskier emerging markets in search of better returns.

On the back of selling by FIIs, Sensex has lost 677.71 points or 7.7% in a
short while from its all time closing peak of 8,799.96 on 4 October 2005.

The overall Q2 results that have come in so far have been very impressive.
Software majors Infosys, and TCS have been impressive. Bajaj Auto, ICICI
Bank and HDFC Bank, too, have come up with robust performances. However, the
results of cement major ACC were in striking contrast (dismal) to the
others.

Pharma stocks witnessed a sell-off today.

Among side counters, stocks like Orchid Chemicals, Alembic, Gujarat Fluro
Chemicals, Wockhard, SRF, Amtek Auto, Clariant, Galaxy Entertainment, Hind
Rectifiers, Hindustan Organic Chemicals, IDBI lost between 4% to 8% for the
day.

A number of side counters surged. Stocks like EIH Associated Hotels, Shanthi
Gears, Vishal Exports Overseas, SIC Agencies Corporation, Avaya
GlobalConnect, PSL, TRF, Zuari Industries, Yes Bank, Geometric Software,
Ginni Filaments, Gateway Distriparks, Tricom India, CCL Products, Atlas
Copco, Minda Industries, Rolta India, Suashish Diamond, Batliboi, Thermax,
Eimco Elecon, Simbhaoli Sugar Mills, PHIL Corporation, Pudumjee Paper,
Pidilite, Finolex Industries, Bajaj Auto Finance, Dishman Pharma, DCM
Shriram Consolidated, Bharat Earth Movers, Balrampur Chini Mills, HMT and
Taj GVK Hotels rose between 3% to 15% for the day.

Stocks like Petronet LNG, Jindal Stainless, McDowell, Thirumalai Chemicals,
Surya Pharma, Varun Shipping, Torrent Cables, Jaiprakash Associates, Gujarat
Alkalies, Tata Metaliks, edged higher.

Ranbaxy plunged 6% to Rs 413. The stock declined on high volume of 7.3 lakh
shares. Dr Reddy Laboratories lost 3% to Rs 848.90, Orchid Chemicals
plunged 8.5% to Rs 234.50, Alembic shed 6.8% to Rs 264, Wockhard lost 5.8%
to Rs 449.95, Unichem Laboratories shed 4.5% to Rs 235.45, Glenmark Pharma
shed 2.3% to Rs 310, and Divis Laboratories lost 2% to Rs 1,440.

But Cipla moved in contrast to weakness in pharma stocks. The stock rose
2.6% to Rs 396.50.

Tisco lost 5% to Rs 364.70. 17.9 lakh shares changed hands in the counter on
BSE.

Software shares witnessed selling pressure even as the rupee dropped to an
11-month low of 45 against the dollar. Satyam Computer lost nearly 4% to Rs
548.30, Wipro lost 3% to Rs 370.50, and IT bellwether Infosys shed 2.7% to
Rs 2,516.25.

TCS rose 0.6% to Rs 1,443 after the company said it would take over the
claims processing business of Britain's Pearl Group which is expected to
generate revenue of 486 million pounds ($848 million) over 12 years.

Reliance Industries lost 2.7% to Rs 750.35, Gujarat Ambuja Cements shed 2.8%
to Rs 66.10, State Bank of India shed 2.6% to Rs 900 and ICICI Bank lost
1.4% to Rs 493.50.

Hero Honda gained 2% to Rs 710. Robust Q2 results unveiled by Bajaj Auto
late last week has triggered hopes of a good Q2 showing by Hero Honda. Hero
Hondas board meets on Thursday (20 October 2005) to consider Q2 results.
The bike major posted a 21% growth in motorcycle sales in Q2 September 2005
on the back of strong rural sales and a good response to its newly launched
125cc motorcycles Glamour.

Car major Maruti Udyog rose 1.3% to Rs 552.10 on bargain hunting after a
recent sharp fall in the counter.

Bharti Tele-Ventures (BTL) gained 0.5% to Rs 321. The scrip rose on renewed
buying on expectation of strong Q2 results.

Nestle surged 3.7% to Rs 840.25. 6,974 shares changed hands in the counter
on BSE.

Bharat Earth Movers jumped nearly 4% to Rs 856.25 after the company said on
Monday that it had signed a preliminary agreement with Korea's Rotem to make
aerobridges.

Gateway Distriparks edged up for the second day in a row on the back of
strong Q2 results. The stock gained nearly 4% to Rs 227.50.

Vishal Exports Overseas jumped 10% to Rs 7.34 the maximum permissible
level of the day on the back of strong Q2 results. Vishal Exports Overseas
(VEOL) reported 67.8% growth in Q2 September 2005 net profit to Rs 14.47
crore compared to Rs 8.62 crore in Q2 September 2004. Top line growth has
driven bottom line growth. Net sales has risen 83.3% to Rs 878.10 crore (Rs
478.81 crore).

TRF rose for the second day in a row on the back strong Q2 results. The
scrip gained 5% to Rs 173.40.

Batliboi jumped 6% to Rs 93 boosted by strong Q2 results. Batlibois net
profit jumped 89.8% in Q2 September 2005 to Rs 3.19 crore (Rs 1.68 crore).
Net sales rose 25.8% to Rs 25.48 crore (Rs 20.25 crore).

Bharat Forge lost 0.35% to Rs 316. Bharat Forge has reported a net profit of
Rs 51.77 crore for Q2 September 2005 a growth of 37% compared to a net
profit of Rs 37.83 crore in Q2 September 2005. Net sales has risen 29.7% to
Rs 376.61 crore (Rs 290.15 crore).

Hexaware Technologies lost 2.6% to Rs 105.45. The stock came sharply off the
days high of Rs 114.65. 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.

Transformers maker EMCO gained 1.8% to Rs 399 on the back of robust Q2
results. EMCOs net profit jumped 102.8% to Rs 5.07 crore in Q2 September
2005 from Rs 2.50 crore in Q2 September 2004. Net sales rose 36% to Rs 76.15
crore (Rs 55.93 crore).

Bombay Dyeing retreated for the second day in a row today, after the Bombay
High Court on Monday spiked the NTC mill land sale proposal. The stock was
down 4.2% to Rs 318. 1.6 lakh shares changed hands in the counter on BSE.

The Bombay High Court, in a significant decision on Monday, set aside the
sale of 600 acres of surplus textile mill land by the National Textile
Corporation (NTC) in prime locations. The city-based Bombay Environmental
Group had challenged the sale on the ground that development control rules
had been violated in the process.

The order of the high court would drastically reduce the availability of
mill lands for construction-development in Mumbai. Bombay Dyeing had plans
for a major development of its huge real estate property in Mumbai and
therefore the stock tumbled after the court decision.

Tamil Nadu Newsprint & Papers gained 1.5% to Rs 86.55 following an
impressive rise in Q2 September 2005 net profit. 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.

Punjab Tractors lost 2% to Rs 194 as the quantum of special dividend of Rs
4.50 per shares declared by the company failed short of market expectation.
The company reported robust Q2 results. The net profit jumped 55.5% to Rs
16.80 crore in Q2 September 2005 from Rs 10.80 crore in Q2 September 2004.
Net operating revenue rose 11.8% to Rs 212.10 crore from Rs 189.70 crore.

Power equipment makers like Siemens, Thermax, Alstom and Alstom Projects
rose ahead of the listing of Suzlon Energy on Wednesday (18 October 2005).

source:capitalmarket

Vishal Exports Overseas jumped 10% to Rs 7.34 - the maximum permissible level of the day on the back of strong Q2 results

2005-10-18T04:29:00.000-07:00

5.6 lakh shares changed hands in the counter on BSE.

Vishal Exports Overseas (VEOL) reported 67.8% growth in Q2 September 2005
net profit to Rs 14.47 crore compared to Rs 8.62 crore in Q2 September 2004.
Top line growth has driven bottom line growth. Net sales has risen 83.3% to
Rs 878.10 crore (Rs 478.81 crore).

As part of its strategy to focus on the renewable energy sector, VEOL has
already commissioned 19 wind turbine generators in Tamil Nadu and Rajasthan,
aggregating to 16.20 Mw, at a total project cost of Rs 69 crore.

Vishal Exports Overseas plans to set up a 100-mega-watt wind power project
at a cost of Rs 550 crore. These wind farms will be set up over a period of
two years and the project would be completed in three modular phases.

Vishal Exports Overseas is a 4-star trading house engaged in export / import
Activities with a core competence in agro-based commodities like in soyabean
extracts, wheat, rice, and sugar.

Major BPO deal spurs TCS

2005-10-18T03:05:00.000-07:00

TCS rose nearly 1% to Rs 1,448 after the company said it would take over the
claims processing business of Britain's Pearl Group which is expected to
generate revenue of 486 million pounds ($848 million) over 12 years.

4.1 lakh shares changed hands in the counter on BSE.

TCS will set up a new company in UK which is a subsidiary of the company to
take over the claims processing business of Pearl Group. The new subsidiary
will specialise in BPO for life and pension businesses, starting with Pearl
Group's closed books portfolio, TCS said.

It will also focus on offering similar services to other life companies,
presenting it with an opportunity for significant future growth as Business
Process Outsourcing (BPO) is rolled out across the life assurance industry,
TCS said in a statement

Hero Honda accelerates on expectation of strong Q2 results

2005-10-18T02:03:00.000-07:00

Robust Q2 results unveiled by Bajaj Auto late last week has triggered hopes
of a good showing by Hero Honda.

Amid such expectation and on hopes of pick up in sales in the festive season
following a good monsoon this year, Hero Honda shares surged nearly 3% today
to Rs 716. 2.2 lakh shares changed hands in the counter on BSE.

The stock rose for the second day in a row today. On Monday (17 October
2005), the stock rose nearly 1% to Rs 695.75.

Hero Hondas board meets on Thursday (20 October 2005) to consider Q2
results.

Hero Honda posted a 21% growth in motorcycle sales in Q2 September 2005 on
the back of strong rural sales and a good response to its newly launched
125cc motorcycles Glamour.

On Saturday (15 October 2005), Bajaj Auto reported robust Q2 results. Bajaj
Auto 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) rose 30.3% to Rs 2003.15 crore from Rs 1536.52 crore. One key
highlight of the Q2 results was a slight increase in core operating profit
margin.

Market proves range bound

2005-10-18T00:54:00.000-07:00

The market came further off the higher level in early afternoon trade. After
surging over 100 points at one point of time in morning trade, the Sensex
had come off the higher level shortly later.

Cement major Gujarat Ambuja Cements slipped into the red by early afternoon
trade. Tisco, Reliance Industries, Ranbaxy Laboratories, Wipro, Tata Motors,
and Infosys Technologies were all off highs. In contrast, L&T, and Hero
Honda firmed up. Bharti Tele-Ventures (BTL) held firm.

Refinery shares lost ground after a fresh upward spike in global crude oil
prices.

Though market breadth was positive, it weakened when compared to mid-morning
trade when the breadth was much stronger. 1,357 stocks advanced on BSE as
compared to 917 stocks that declined. 65 scrips were unchanged. Gainers
outpaced losers by a ratio of 1.4:1. The ratio was much stronger at 1.9:1 in
mid-morning trade.

Stocks like IPCL, GE Shipping, Bharat Forge, Zuari Industries, Aarti
Industries, Financial Technologies, Aegis Logistics, Gabriel India, Century
Enka, Godavari Fertilisers, Jaiprakash Associates, DCW, Atlas Copco, Avaya
GlobalConnect, SIC Agencies Corporation, Birla Kennametal, Ginni Filaments,
PSL, Tricom India, and Gujarat Gas edged higher.

At 12:10 IST, the Sensex was up 57 points at 8,260. The barometer index came
off the days high of 8,317.38.

L&T jumped 3.2% to Rs 1,455. 35,024 shares changed hands in the counter on
BSE.

Hero Honda gained 2.7% to Rs 715. The stock gained on expectation of strong
Q2 results, and on hopes of strong demand in the festive season following a
good monsoon this year.

BTL gained 2.3% to Rs 326.65. The scrip rose on expectation of strong Q2
results.

Cipla rose 2% to Rs 394.20. The stock surged for the second day in a row
today after the company said it is making a generic version of Roches
Tamiflu an anti-influenza drug

Cement major Gujarat Ambuja Cements lost 0.8% to Rs 67.50. 5.5 lakh shares
changed hands in the counter on BSE.

Steel major Tisco shed 0.3% to Rs 382.60. 6 lakh shares changed hands in the
counter on BSE.

Infosys shed 0.1% to Rs 2,582. 2.4 lakh shares changed hands in the counter
on BSE.

Grasim inched up 0.1% to Rs 1,193.80. Grasim today said the workers of one
of the company's Viscose Staple Fibre (VSF) plants at Harihar in Karnataka
(called the Grasilene Division) have gone on strike from October 17, 2005.
Consequently, manufacturing activities at the above plant have come to a
stand still. The company is seeking the intervention of the state government
and the labour department as per the due process of law.

Batliboi spurted 6.4% to Rs 93.30 on the back of the just announced
impressive Q2 results. Batlibois net profit spiraled up 89.8% in Q2
September 2005 to Rs 3.19 crore (Rs 1.68 crore). Net sales grew 25.8% to Rs
25.48 crore (Rs 20.25 crore).

Bharat Forge climbed 3.4% to Rs 338 on expectation of strong Q2 results. The
company announces Q2 results today.

EMCO gained 3% to Rs 403.50 on the back of strong Q2 results.

Gateway Distriparks rose 2% to Rs 223.45 on the back of strong Q2 results.

IPCL gained 2.2% to Rs 233.25. The stock rose for the second day in a row.
11.6 lakh shares changed hands in the counter on BSE.

The overall Q2 results that have come in so far have been very impressive.
Software majors Infosys, and TCS have done exceedingly well. Bajaj Auto,
ICICI Bank and HDFC Bank, too, have come up with robust performances.
However, the results of cement major ACC were in striking contrast (dismal)
to the others.

source:capitalmarket

Bharat Forge held firm after the company reported strong Q2 results

2005-10-18T00:50:00.000-07:00

The stock was up nearly 3% to Rs 336.70. 3.2 lakh shares changed hands in
the counter. The results hit the market just a few minutes back.

The stock rose in early trade today ahead of the results announcement. The
stock rose as much as 4.5% to a high of Rs 342. It had pared gains following
the results announcement.

Bharat Forge has reported a net profit of Rs 51.77 crore for Q2 September
2005 a growth of 37% compared to a net profit of Rs 37.83 crore in Q2
September 2005. Net sales has risen 29.7% to Rs 376.61 crore (Rs 290.15
crore).

Transformers maker EMCO gained 2.4% to Rs 401.25 on the back of robust Q2 results

2005-10-18T00:23:00.000-07:00

Net profit jumped 102.8% to Rs 5.07 crore in Q2 September 2005 from Rs 2.50
crore in Q2 September 2004. Net sales rose 36% to Rs 76.15 crore (Rs 55.93
crore).

EMCO manufactures all kind of transformers, including power transformers,
distribution transformers, furnace transformers, and rectifier transformers.
The company has a strong presence in medium capacity transformers like 132
kV among others. EMCO also has a projects division which focuses on power
transmission and distribution segment contracts. The project division enjoys
better margins.

A few months back, EMCO completed its maiden international offering and
raised Rs 45.53 crore, including premium of Rs 42.28 crore. The issue came
in the form of 1,250,000 GDRs representing 1,250,000 equity shares of Rs 10
each at price of $ 8 per GDR.

Further, the company also allotted to one of its promoter director 300,000
warrants having an option to subscribe to 300,000 equity shares of Rs 10
each at future date, not exceeding 18 months from the date of allotment of
warrant, at a price of Rs 285 per share.

Batliboi jumped 7% to Rs 93.95 after the company reported a surge in Q2 September 2005 net profit

2005-10-18T00:21:00.000-07:00

The stock plunged 6.9% on Monday (17 October 2005) to Rs 87.65 on the eve of
the results announcement. The results hit the market after trading hours on
17 October 2005.

Batliboi has reported robust Q2 September 2005 results. Batlibois net
profit jumped 89.8% in Q2 September 2005 to Rs 3.19 crore (Rs 1.68 crore).
Net sales rose 25.8% to Rs 25.48 crore (Rs 20.25 crore).

Batliboi operates in four business segments: textile engineering, machine
tools, air-conditioning and refrigeration, and others. The rising demand for
its products in the domestic as well as international markets and its thrust
on continuous improvement in productivity together with various strategic
initiatives undertaken have resulted in an improved performance by the
company over the last one year or so.

Further, due to the increasing investment in the Indian economy, the capital
goods industry, to which the company belongs, is enjoying a good growth.

A leader in textile engineering systems, Batliboi boasts of a diversified
product basket in this area of operations. In the machine tools division,
the company acts as an agent for leading international manufacturers and
also some Indian machine tool builders for machine tool trading.

Bombay High Court decision on NTC mill land sale hits Bombay Dyeing

2005-10-18T00:17:00.000-07:00

Bombay Dyeing retreated for the second day in a row today, after the Bombay
High Court on Monday spiked the NTC mill land sale proposal.

The stock was down 4.2% to Rs 318. 36,475 shares changed hands in the
counter on BSE.

The stock plunged 6.4% on Monday (17 October 2005) to Rs 331.15 hit by the
high court decision.

The order of the high court would drastically reduce the availability of
mill lands for construction-development in Mumbai.

Bombay Dyeing had plans for a major development of its huge real estate
property in Mumbai and therefore the stock tumbled after the court decision.

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

2005-10-17T23:56:00.000-07:00

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

2005-10-17T23:53:00.000-07:00

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

2005-10-17T05:01:00.000-07:00

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 Roches
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 ACCs 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 Roches Tamiflu an anti-influenza drug.
Tamiflu is an anti-viral drug used to treat bird flu, and Ciplas
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

2005-10-17T04:47:00.000-07:00

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 Indias 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 Groups 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

2005-10-17T02:26:00.000-07:00

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 Reddys 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 days 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
Ranbaxys legal challenge to the main patent protecting Pfizers 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 Banks 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 ONGCs 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 days 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

2005-10-17T02:09:00.000-07:00

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

2005-10-17T01:25:00.000-07:00

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

2005-10-17T01:24:00.000-07:00

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 Ciplas
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.

Tata Metaliks plunged 8.3% to Rs 139.50 after the company reported a fall in Q2 September 2005 net profit

2005-10-16T22:30:00.000-07:00

The stock lost nearly 3% on Friday (14 October 2005) to Rs 152.15 on the eve
of the results announcement and in a weak market. From a recent peak of Rs
178.10 on 20 September 2005, the stock had declined to Rs 152.15 on 14
October 2005. Earlier, the stock had risen to Rs 178.10 on 20 September 2005
from a low of Rs 144.90 on 25 August 2005.

Tata Metaliks has reported a 36% fall in net profit to Rs 11.06 crore for Q2
September 2005 from Rs 17.29 crore in Q2 September 2004. Net sales have
risen 50% to Rs 118.03 crore from Rs 78.54 crore.

Tata Metaliks is a major player in the pig iron industry.

Tata Metaliks is looking at mergers and acquisitions as part of its growth
strategy.

Bajaj Auto revs up on strong Q2 results

2005-10-16T22:12:00.000-07:00

Two-wheeler major Bajaj Auto rose 2.8% to Rs 1,739 on the back of robust Q2
September 2005 results.

6,976 shares changed hands in the counter on BSE.

Ahead of the results announcement, the stock lost 3.1% on Friday (14 October
2005) to Rs 1,691 in a weak market. From a lifetime closing high of Rs
1,810.05 on 4 October 2005, the stock had slipped to Rs 1,691 ahead of the
results announcement. Earlier, the stock had spurted during late September
2005 to early October 2005 on expectation of strong September vehicle sales
and on expectation of strong Q2 results. From a recent low of Rs 1,646.25 on
28 September 2005, the stock had surged to a lifetime closing high of Rs
1,810.05 on 4 October 2005.

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 company unveiled Q2 results on Saturday (15 October 2005).

One key highlight of the Q2 results has been the increase in core operating
profit margin to 16.9% from 16.5% in Q2 September 2004.

Bajaj Auto may edge higher on robust Q2 results

2005-10-16T21:45:00.000-07:00

Bajaj Auto may edge higher after the two-wheeler major on Saturday (15
October 2005) reported robust Q2 September 2005 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 may advance after the company said it is making a generic version of
Roches Tamiflu an anti-influenza drug. Tamiflu is an anti-viral drug used
to treat bird-flu and Ciplas announcement comes as the government
stockpiles the drug fearing an epidemic. Roche is under pressure to step up
supplies of Tamiflu, as fears of a shortage of the drug is fanning across
countries.

Crompton Greaves may edge higher on the back of strong Q2 September 2005
results. Crompton Greaves has reported a 30.4% growth in Q2 September 2005
net profit to Rs 32.52 crore compared to Rs 24.93 crore in Q2 September
2004. Net profit growth would have been higher but for a substantial charge
of Rs 6.40 crore on account of deferred tax in Q2 September 2005. Net sales
rose 22.1% to Rs 605.69 crore (Rs 495.68 crore).

HDFC Bank may see action ahead of the announcement of Q2 results today.
Other Q2 results scheduled today are Aksh Optifibre, Allahabad Bank,
Bilpower, Dwarikesh Sugar, EMCO, ETC Networks, Federal Bank, Liberty Shoes,
NDTV, NEPC-India, Nucleus Software, Poddar Pigments, PSI Data System, Swaraj
Engines, Tamil Nadu Newsprint, Unichem Laboratories, Vimta Labs, Vishal
Exports Overseas, Wartsila India and Webel Sl Energy

Punjab Tractors may march up ahead of its board meeting to consider a
special dividend along with taking on record Q2 results. It may be recalled
that, in Q1 June 2005, Punjab Tractors (PTL) made a huge extraordinary
profit of Rs 61.30 crore from sales of 15% stake in Swaraj Mazda to Sumitomo
Corporation, Japan, a joint venture partner in Swaraj Mazda. This is perhaps
the reason why the company intends to give special dividend to shareholders.

Oil exploration major ONGC may see action on reports in a section of the
media that the government plans to take over ONGC Videsh ONGCs 100%
subsidiary and convert it into a national exploration and production
flagship for overseas investments.

ADF Foods may be in the spotlight after the company said the partners of the
partnership firm M/s American Dry Fruits Stores have arrived at an amicable
settlement and have signed a Memorandum of Understanding wherein they have
agreed to offer use of the brands, Ashoka, Camel, Aeroplane & Classic Ashoka
to ADF Foods. ADF Foods has further said that these brands have been offered
on license basis to the company and a board meeting is being held
tentatively on October 18, 2005, whereby the board of directors will decide
on the matter. Reports that ADF Foods' promoters had called a truce, sent
ADF Foods' scrip surging 12.2% on Friday (15 October 2005) to Rs 20.60.

Four Soft may edge higher after the company announced its strategy to target
the $ 500-million global logistics software industry. The company plans to
launch a host of new products in the next 18 months. To further this
endeavour, the company announced the commencement of development of two new
products - 4S-3PLex and 4S-eCustoms, it said.

Century Textiles & Industries may edge higher after the company said it has
entered into an agreement to sell its remaining ship viz. m.v. Aditya Gautam
(Handymax Bulk Carrier) to a foreign entity. The agreement to this effect
has been signed, the company said. The sale of the ship and receipt of
payment for the same are likely to be completed in November- December 2005
and, thereafter, the shipping division of the company will be closed after
completion of formalities.

Dai-Ichi Karkaria may see action after the company said it has signed the
Business Transfer Agreement (BTA) for the transfer of the company's
Hyderabad business as a going concern on a slump sale basis into a new joint
venture company named Inogent Laboratories Pvt Ltd (Inogent).
Simultaneously, a joint venture agreement has also been signed between
Dai-Ichi Karkaria and GVK Biosciences Pvt Ltd (GVK) whereby the company will
have a 20% equity stake in Inogent with the balance being held by GVK and
its associates. Inogent would be engaged in the business of APIs/Process
Chemistry/ Custom Synthesis of NCEs and Custom Manufacture for chemical
entities.

GHCL may move firm on the back of robust Q2 September 2005 results. Net
profit has jumped 358% to Rs 23.43 crore from Rs 5.11 crore in Q2 September
2004. Net sales have risen 36.6% to Rs 165.64 crore (Rs 121.19 crore). The
company said it has raised soda ash prices by an average Rs 370 per tonne
from 1 October 2005.

Kajaria Ceramics may fall after the company reported a flat net profit of Rs
8.05 crore for Q2 September 2005 compared to Rs 8.01 crore for Q2 September
2004. Net sales rose 9.3% to Rs 74.04 crore (Rs 67.74 crore).

G G Dandekar Machine Works may edge higher on the back of strong Q2 results.
The company reported a net profit of Rs 0.66 crore compared to Rs 0.46 crore
for Q2 September 2004. Net sales rose 39.4% to Rs 4.10 crore (Rs 2.94
crore).

Tata Metaliks may lose ground after the company reported dismal Q2 results.
Tata Metaliks has reported a 36% fall in net profit to Rs 11.06 crore for Q2
September 2005 from Rs 17.29 crore in Q2 September 2004. Net sales has risen
50% to Rs 118.03 crore from Rs 78.54 crore.

Gangotri Textile may move higher on the back of strong Q2 results. Gangotri
Textile has reported 264% growth in Q2 September 2005 net profit to Rs 2.56
crore from Rs 0.70 crore in Q2 September 2004. Net sales has declined 20.8%
to Rs 37.83 crore from Rs 47.82 crore.

TASC Pharmaceuticals may edge higher after the company said it has raised $
50 million through Foreign Currency Convertible Bonds (FCCB) on October 13,
2005. The bonds, which have a maturity of 5 years, are convertible at a
conversion price of Rs 336.92 per share, which is at a premium of 26% over
the closing price of Rs 267.40 on BSE on October 13, 2005. The bonds are
expected to be listed on the Singapore Stock Exchange.

Wendt (India) may move higher after the company said it has incorporated a
wholly owned subsidiary (WOS) in Thailand. The WOS in Thailand plans to
manufacture, sell and service diamond/CBN grinding wheels and other abrasive
tools/industrial products. These activities are planned in a phased manner
and will be subject to obtaining necessary approvals from the various
government agencies, the company said.

Bank shares may edge higher on reports that credit offtake has witnessed a
solid surge during the period July-September 2005. The non-food credit
during this period amounted to Rs 1,00,0008 crore.

Nahar Industrial Enterprises may be in the buzz after the company said its
board of directors will meet on 24 October 2005 to consider discontinuance
of the manufacturing activities of the fats and oils unit. The board will
also take on record Q2 September 2005 results.

Cosmo Films may edge higher after the company reported 19.2% growth in Q2
September 2005 net profit to Rs 3.85 crore compared to Rs 3.23 crore in Q2
September 2004. Net sales rose nearly 7% to Rs 108.23 crore (Rs 101.17
crore).

Malabar Building Products may edge higher after the company reported 70.8%
growth in Q2 September 2005 net profit to Rs 1.04 crore from Rs 0.60 crore
in Q2 September 2004. Net sales rose 6.4% to Rs 7.46 crore (Rs 7.01 crore).

source:capitalmarket

Sensex plummets to one-month low

2005-10-14T04:54:00.000-07:00

A sell-off gripped the bourses for the second day in a row today. Dismal Q2
results by cement major ACC triggered a sharp fall in the latter part of the
trading session. Cement scrips declined sharply. Construction stocks
witnessed a major battering.

BSE Sensex plunged 175.17 points or 2% to settle at 8,201.73 the lowest
level in the last one month since 14 September 2005. The S&P CNX Nifty lost
52.90 points or 2% to 2,484.40.

A host of blue chips moved lower. A number of small-cap and mid-cap stocks
lost ground, with some stocks being badly hurt. BSE Small-Cap Index plunged
159.91 points or 2.8% to 5,419.27. BSE Mid-Cap Index lost 91.49 points or
2.2% to 4,021.52.

Market breadth was quite weak. Losers outpaced gainers by a ratio of 7.8:1.

In a weak market, UTI Bank edged higher on the back of strong Q2 results.
Battered steel major Tisco edged higher on bargain hunting. Cipla recovered
from the lower level.

Turnover was higher on BSE at Rs 2,997 crore compared to Thursdays Rs 2,883
crore.

ACCs dismal Q2 results came at a time when the domestic bourses had come
sharply off the higher level in the past few days on the back of selling by
FIIs. The Sensex plunged 164 points on Thursday (13 October 2005). From a
lifetime closing high of 8,799.96 on 4 October 2005, Sensex has now lost
598.23 points or 6.7% to current 8,201.73.

The latest data showed that FIIs sold shares worth a net Rs 399.60 crore on
Thursday (13 October 2005) the day when Sensex plunged 164 points. By the
first few days of October 2005, FIIs have sold shares worth a net Rs
1,000.70 crore (till 13 October 2005). Higher US rates tend to lure capital
away from high-yielding but relatively risky emerging markets. The Fed has
hiked interest rates 11 times since June 2004 to the current 3.75 percent
and more increases are expected.

ACC plunged 5.7% to Rs 439.50 hit by dismal Q2 results that hit the market
in the latter part of trading today. The stock declined on high volume of
17.6 lakh shares.

Even as ACCs sales rose 13.5% to Rs 1,004.95 crore from Rs 885.28 crore in
Q2 September 2004, the operating profit declined 6.5% to Rs 140.05 crore
from Rs 149.88 crore in Q2 September 2004. Thus, higher cement prices were
not enough to combat rising costs. The core operating profit margin (OPM)
declined sharply to 13.93% from 16.9% in Q2 September 2004.

Net profit jumped 159% to Rs 203.43 crore boosted by a huge extraordinary
profit of Rs 172.80 crore from the sale of the refractory business.

ACCs dismal Q2 results hit a host of other cement stocks. Gujarat Ambuja
Cements plunged 6% to Rs 68, India Cements shed 5.3% to Rs 94.70, Madras
Cement lost 4.7% to Rs 1,415, Mangalam Cement lost 4.6% to Rs 72.35, Birla
Corporation lost 4.3% to Rs 223.20, Ultra-Tech Cement lost nearly 3% to Rs
425 and Grasim shed 1% to Rs 1,216.80.

Construction scrips were on lower turf. IVRCL Infrastructures (down 9% to Rs
715), Nagarjuna Construction (down 6% to Rs 207.95), L&T (down 4.3% to Rs
1,410), Hindustan Construction (down 3.4% to Rs 944) and Gammon India (down
2.8% to Rs 348) all declined.

Car major Maruti Udyog slumped nearly 5% to Rs 530.30, extending the recent
fall in the counter.

Profit taking pulled Bharti Tele-Ventures lower. The stock dropped 4.7% to
Rs 327.20. 4.72 lakh shares changed hands in the counter on BSE.

ICICI Bank fell nearly 4% to Rs 504.90. 10.9 lakh shares were traded in the
counter on BSE. ICICI Banks net profit has grown 31% in Q2 September 2005
to Rs 580 crore from Rs 442 crore in Q2 September 2004. Net interest income
improved 39% to Rs 953 crore.

ICICI Bank has also announced a major fund raising programme. The bank will
mop up Rs 7,000 crore ($ 1.6 billion) from a public issue and ADR issue with
a further greenshoe option of 15%.

But UTI Bank bucked the weak market trend on the back robust Q2 results. The
stock gained 2.2% to Rs 259.70. 3.8 lakh shares changed hands in the counter
on BSE. UTI Banks net profit has jumped 135.8% to Rs 109 crore in Q2
September 2005 from Rs 46.22 crore in Q2 September 2004. The gross interest
income has risen 53% to Rs 687.60 crore from Rs 449.30 crore

Ranbaxy dropped for the second day in a row after a ruling by the UK High
Court on Wednesday which dismissed Ranbaxys legal challenge to the main
patent protecting Pfizers Lipitor. The stock shed 3.8% to Rs 441.

Oil exploration major ONGC lost 3.5% to Rs 993, Bhel shed 3.4% to Rs 1,135,
HDFC Bank lost 3.3% to Rs 655, Hindalco shed 3.2% to Rs 132.50, Bajaj Auto
shed 3% to Rs 1,690, ITC lost 2.5% to Rs 125.10 and Satyam Computer lost
2.4% to Rs 572.

Index heavyweight Reliance Industries (RIL) lost 1.7% to Rs 761.60 and IT
bellwether Infosys shed 0.4% to Rs 2,612.

Steel major Tisco gained 0.5% to Rs 378.55. 29.5 lakh shares changed hands
in the counter on BSE.

Tata Sponge plunged 9.4% to Rs 151.10 after it reported sharp fall in Q2
September 2005 net profit. Tata Sponge Irons net profit has declined
sharply by 48.7% to Rs 5.54 crore in Q2 September 2005 from Rs 10.81 crore
in Q2 September 2004. Net sales rose 4.1% to Rs 52.19 crore from Rs 50.12
crore.

Gateway Distriparks (GDL) recovered from lower level after it unveiled Q2
results in mid-afternoon trade. The stock ended flat at Rs 214.05 off the
days low of Rs 204. 4.9 lakh shares changed hands in the counter on BSE.
GDL reported net profit of Rs 20.52 crore on net sales of Rs 35.14 crore for
Q2 September 2005. Comparable figures for the year-ago period were not
available.

Crompton Greaves lost 3.3% to Rs 617 ahead of the announcement of Q2 results
later in the day. Market men expect strong Q2 results from Crompton Greaves.

Mastek staged a solid rebound after Thursdays post-results fall. The stock
jumped 5.4% to Rs 497.85.
source: capitalmarket

Infosys holds fort

2005-10-14T04:53:00.000-07:00

Software major Infosys recovered from Thursdays fall on the back of strong
Q2 results.

The stock was up 0.2% to Rs 2,629.70. It was quite range bound today. It
moved between a low of Rs 2,606 and a high of Rs 2,644. 2.4 lakh shares
changed hands in the counter on BSE.

The scrip lost 2.2% on Thursday (13 October 2005) in a weak market to Rs
2,624.15. On Tuesday (11 October 2005), the stock gained 2.3% to a 52-week
closing high of Rs 2,683.90 boosted by strong Q2 results.

Over the past one-and-a-half months, the stock moved strong. From a low of
Rs 2,267.70 on 24 August 2005, it leaped up 15.7% to Rs 2,624.15 by 13
October 2005. A major order win from Dutch bank AMBN AMRO boosted the stock
in late August-early September 2005.

On a sequential basis, Infosys consolidated net profit rose 13.9% to Rs 606
crore from Rs 531.92 crore in Q1 June 2005. Consolidated sales rose 10.7% on
a sequential basis to Rs 2,294 crore from Rs 2,071.59 crore in Q1 June 2005.

For the second time this year, Infosys has revised upwards both earnings and
revenue guidance for FY 2006 (year ending 31 March 2006). Infosys expects an
EPS (before exceptional items) of between Rs 89 and Rs 89.40 for FY 2006, a
growth of 29.38% to 29.96%. While declaring Q1 June 2005 results, Infosys
had pegged FY 2006 EPS at between Rs 84.70 and Rs 86.00 a growth of 23.12%
to 25.02%.

Infosys expects a revenue of between Rs 9361 crore and Rs 9383 crore for FY
2006 a growth of 31.30% to 31.61%. At the time of announcing Q1 June 2005
results, Infosys had pegged FY 2006 revenue at between Rs 8,947 crore and Rs
9,051 crore a growth of 25.49%-26.95%

The pricing environment is stable with an upward bias, Infosys said at the
time of announcing Q2 results. The rupee has depreciated during the quarter
creating a more benign margin environment, it said.

Infosys recruited 8,026 employees (gross addition) in Q2 September 2005
which is the highest ever addition during any quarter.

Ranbaxy Laboratories loses further ground

2005-10-14T02:03:00.000-07:00

Ranbaxy Laboratories lost 3.4% to Rs 442.50, extending Thursdays sharp
fall.

7.8 lakhs shares changed hands in the counter on BSE.

The stock plunged 6% on Thursday to Rs 458.40 on huge volume of 31.5 lakh
shares after a ruling by the UK High Court on Wednesday which dismissed
Ranbaxys legal challenge to the main patent protecting Pfizers Lipitor.

The stock had seen high volatility ahead of the key ruling. It lost nearly
7% in just two trading sessions ahead of the announcement to Rs 489.15 on 11
October 2005 from Rs 525.55 on 7 October 2005. Earlier, the stock had gained
6.9% to Rs 525.55 on 7 October 2005 from a recent low of Rs 491.25 on 30
September 2005.

What is more important for Ranbaxy now is what ruling may manifest in the US
court against Pfizer's patents. Ranbaxy has challenged Pfizers patents on
Lipitor in the US as well.

Meanwhile, Ranbaxy along with Agvar Chemicals Inc has filed a joint
complaint against Barr Laboratories, Inc. and Teva Pharmaceuticals, USA Inc.
for damages and equitable relief for breach of contract, fraud and tortuous
interference associated with the supply of Active Pharmaceutical Ingredients
(API) regarding the commercialisation of fexofenadine hydrochloride tablets
in the US healthcare market.

Expectation of strong Q2 results spur Crompton Greaves

2005-10-14T01:47:00.000-07:00

Crompton Greaves bucked the weak market trend and rose slightly on
expectation of strong Q2 results.

The stock was up 0.7% to Rs 643 in early afternoon trade. 64,357 shares
changed hands in the counter on BSE.

The stock bounced back from the lower level since late September 2005 albeit
in highly volatile trade due to alternate bouts of buying and selling. From
a low of Rs 579.50 on 22 September 2005, the stock surged 10% to Rs 638.55
by 13 October 2005 on the eve of the results announcement. The company
unveils Q2 results today.

According to one domestic brokerage, Crompton Greaves revenues are expected
to grow a robust 38% in Q2 September 2005 driven by the power and industrial
division. Fuelled by the spurt in investment in power T&D, the revenues of
the power segment are expected to grow 40% and the revenue of the industrial
segment is expected to grow 22% thanks to the buoyancy in the manufacturing
sector, says a report. The brokerage expects a 68% jump in the companys
earnings in Q2 September 2005.

Market breadth weakens further

2005-10-13T23:24:00.000-07:00

The market proved subdued in morning trade and software majors Infosys and
TCS both pared early gains. Gujarat Ambuja Cements (GACL) was below par and
so was ACC, which is announcing Q2 results today.

Profit taking pulled down ITC, ONGC, Maruti Udyog, Bajaj Auto, L&T, and
Hindalco. HDFC Bank was on the downside, following a fall in its ADR on
Thursday. ICICI Bank pared gains.

Market breadth only worsened as trading progressed. 1,715 stocks declined on
BSE as compared to 400 stocks that rose. 52 scrips were unchanged. Losers
outpaced gainers by a ratio of 4.2:1.

Side counters that rose included Kalindee Rail Niman, Pitti Laminations,
Yuken India, Torrent Gujarat Biotech, Aptech, Wimco, Mastek, Mukand,
MRO-TEK, Balkrishna Industries, Apar Industries, Infotech Enterprises,
Bombay Burmah, Nahar Industrial Enterprises, Dwarikesh Sugar, Praj
Industries, Bhartiya International, and Mphasis BFL.

Steel major Sail recovered after Thursdays sharp fall.

At 11:10 IST, the Sensex was down 57 points at 8,319.

Gujarat Ambuja Cements (GACL) lost 2.7% to Rs 70.40. ACC shed 0.4% to Rs
464.25. ACC unveils its Q2 results later in the day. Market men expect
strong Q2 results from the cement major on the back of firm cement prices.

Car major Maruti Udyog lost 2.5% to Rs 543.90 extending a recent fall . 1.8
lakh shares changed hands in the counter on BSE.

Copper and aluminium major Hindalco dropped for the second day in a row. The
stock shed nearly 3% to Rs 133.10 in the wake of increasing concern that the
strong upsurge in global commodity prices might be on the verge of slowing
down.

HDFC Bank lost 2% to Rs 664 after its ADR plunged 4.4% on Thursday to $
46.20.

Cigarette major ITC shed 1.7% to Rs 126. 7.2 lakh shares changed hands in
the counter on BSE.

ICICI Bank (down 0.3% to Rs 524) slipped into the red. The stock came off
the days high of Rs 535. 2.4 lakh shares changed hands in the counter on
BSE. ICICI Banks net profit has risen 31% in Q2 September 2005 to Rs 580
crore from Rs 442 crore in Q2 September 2004. Net interest income has risen
39% to Rs 953 crore.

Sail gained 1.3% to Rs 58.10. 12.9 lakh shares changed hands in the counter
on BSE.

India Cements moved lower by 2.6% to Rs 97.35 following reports that the
cement major has raised $ 100 million by way of a GDR issue.

Tata Sponge Iron flopped 8.6% to Rs 152.50 after it reported dismal Q2
September 2005 results. Tata Sponge Irons net profit has fallen steeply by
48.7% to Rs 5.54 crore in Q2 September 2005 from Rs 10.81 crore in Q2
September 2004. Net sales improved by 4.1% to Rs 52.19 crore from Rs 50.12
crore.

source:capitalmarket

Cement major ACC lost 0.8% to Rs 462.50 in a weak market ahead of the announcement of Q2 September 2005 results.

2005-10-13T23:22:00.000-07:00

The market extended Thursdays 164-point fall. The Sensex was down 74 points
at 8,302.

ACC had already cooled off in the past few days ahead of the results
announcement. From a lifetime closing high of Rs 496.05 on 5 October 2005,
the stock declined to Rs 466.45 by 13 October 2005.

ACC is announcing its Q2 results today.

ACC is expected to report strong Q2 results on the back of firm cement
prices. Cement prices held firm this monsoon season mainly on the back of
strong demand from rural housing. The average All-India cement prices during
Q2 September 2005 rose 3-4% when compared to the same period last year. ACC
has high sensitivity to cement prices.

Two brokerages expect ACCs stand alone net profit at between Rs 87.50 crore
to Rs 88.80 crore for Q2 September 2005 compared to a net profit of Rs 78.56
crore in Q2 September 2004. Sales are expected at between Rs 967.40 crore to
Rs 1,190.60 crore compared to Rs 885.28 crore in Q2 September 2004.

Tata Sponge Iron slumps on disappointing Q2 outcome

2005-10-13T23:15:00.000-07:00

Tata Sponge Iron flopped nearly 8% to Rs 153.80 after the company came out
with dismal Q2 September 2005 results.

46,189 shares changed hands in the counter on BSE by the first few minutes
of trade.

The results hit the market after trading hours on Thursday (13 October
2005).

The stock had retreated from higher level ahead of the results announcement
in weak market. From a high of Rs 186.25 on 19 September 2005, the stock had
declined to Rs 166.85 by 13 October 2005.

Earlier, the stock spurted during early August 2005 to mid-September 2005.
From 151.95 on 3 August 2005, the stock had surged 22.5% to Rs 186.25 on 19
September 2005.

Tata Sponge Irons net profit has declined sharply by 48.7% to Rs 5.54 crore
in Q2 September 2005 from Rs 10.81 crore in Q2 September 2004. Net sales
rose 4.1% to Rs 52.19 crore from Rs 50.12 crore.

Tata Sponge makes sponge iron, which is an intermediary product used in the
making of steel. The company is expanding capacity to tap the growing
demand. The company is expanding capacity to 3.90 lakh tonnes per annum from
the current 2.4 lakh tonnes per annum

ICICI Bank inches ahead on strong Q2 results

2005-10-13T22:52:00.000-07:00

ICICI Bank gained 0.8% to Rs 529.90 on the back of strong Q2 September 2005
results.

27,910 shares changed hands in the counter on BSE.

The stock came sharply off the higher level since late September 2005 after
the company said that it is considering a fresh equity issue. From a
lifetime closing high of Rs 600.35 on 30 September 2005, the stock plunged
to Rs 525.60 by Thursday 13 October 2005 on the eve of the announcement of
Q2 results. The results hit the market after trading hours on 13 October
2005.

Earlier, the stock had spurted on expectation of strong Q2 results. From a
low of Rs 471.75 on 29 August 2005, the stock had surged to a lifetime
closing high of Rs 600.35 on 30 September 2005.

ICICI Banks net profit has risen 31% in Q2 September 2005 to Rs 580 crore
from Rs 442 crore in Q2 September 2004. The net interest income has risen
39% to Rs 953 crore. Net interest income was boosted by corporate and
farm-loan demand as well as by retail lending such as mortgages and personal
loans. Fee income, comprising revenues from advisory services and
consultancy to corporate clients, jumped 31% to Rs 704 crore.

ICICI Bank has also announced a major fund raising programme. The bank will
raise Rs 7,000 crore ($ 1.6 billion) from a public issue and ADR issue with
a further greenshoe option of 15%.

The bank proposes to enhance its equity capital as a proactive move to
leverage business opportunities, maintain appropriate regulatory
capitalisation levels and move towards global benchmarks of scale, ICICI
Bank said in a statement. New regulations have been introduced on the
capital adequacy requirement for banks, requiring additional capital for
credit and market risk. Capital for operational risk will be required from
fiscal 2007 under Reserve Bank of India's roadmap for transition to the
Basel II capital framework.

Sensex plunges 164 points on weak global markets, setback to Indian ADRs

2005-10-13T05:37:00.000-07:00

Weakness across global equities and a board-based fall in Indian ADRs on
Wednesday triggered a sell-off on the Indian bourses today. Auto, IT and
metal stocks led the fall. Most blue chips ended in the red and a host of
small-cap, mid-cap and penny stocks lost ground.

The 30-share BSE Sensex plunged 163.66 points or 1.9% to 8,376.90. The S&P
CNX Nifty lost 52.25 points or 2% to 2,537.30

Asian and European stocks stepped lower on Thursday with tech counters
undermined by a fall in their US peers after disappointing results from
Apple Computer Inc. US stocks dropped on Wednesday, with the three major
stock indexes sinking to near 5-month lows after Apple Computer Inc. posted
disappointing revenues, while heightened fears of rising interest rates hurt
investor sentiment.

Back home, volatility was high. The Sensex plunged about 110 points within
minutes of commencement of trading, tracking weak global markets and a
setback in Indian ADRs on Wednesday. The market recovered from the lower
level later but a sell-off gripped the bourses once again in the last 45
minutes or so of trading.

Market breadth was quite weak. 1,742 stocks declined on BSE as compared to
729 stocks that rose. 52 stocks were unchanged. Losers outpaced gainers by a
ratio of 2.3:1. The BSE Small-Cap Index lost 47.16 points or 0.84% to
5,579.18. The BSE Mid-Cap Index lost 29.85 points or 0.72% to 4,113.01.

The BSE clocked a turnover of Rs 2,873 crore compared to Tuesdays Rs 2,814
crore.

Ranbaxy plunged nearly 7% to Rs 455 after the UK High Court on Wednesday
dismissed Ranbaxys legal challenge to the main patent protecting Pfizers
Lipitor. The stock declined on huge volume of 31.5 lakh shares.

Metal shares declined amid concern that a strong run for global commodity
prices might be about to slow down. Copper and aluminium major Hindalco lost
3.1% to Rs 136.95. 7.1 lakh shares changed hands in the counter on BSE.
State run aluminium major National Aluminium Company shed 2% to Rs 169.50
and Sterlite Industries lost nearly 2% to Rs 830.

Copper prices on the London Metal Exchange (LME) have come off all-time
highs earlier this week on profit taking and fears of fund liquidation,
although platinum is still gaining, hitting its highest level since March
1980.

Tisco lost 4.5% to Rs 376 and Sail plunged 6.6% to Rs 57.25.

Software shares dipped on profit taking tracking weakness in ADRs of IT
pivotals. Infosys shed 2.5% to Rs 2,615.10, Satyam Computer lost 2.7% to Rs
582.70, Wipro lost 2.4% to Rs 388.40 and TCS shed 2.1% to Rs 1,437.

Index heavyweight Reliance Industries lost 1.7% to Rs 774.15. 28.7 lakh
shares changed hands in the counter on BSE.

source:capitalmarket

Sterling Biotech infused with vigour

2005-10-13T04:46:00.000-07:00

Gelatin maker Sterling Biotech rose nearly 2% to Rs 144 after the company
said it had signed a memorandum of understanding to buy Torrent Gujarat
Biotechs Baroda plant for Rs 55 crore in an all cash deal.

18.5 lakh shares changed hands in the counter on BSE.

There has been a marked increase in trading volumes in the stock since late
August 2005.

Sterling Biotech's stock price witnessed a sharp surge during late August
2005-early September 2005. From a low of Rs 121.30 on 29 August 2005, the
stock jumped 36% in a short while to Rs 165.15 on 13 September 2005. The
stock cooled off later to settle at Rs 141.30 by 11 October 2005 ahead of
the announcement.

Sterling said it would use Torrent Gujarat Biotechs Baroda plant to make
specialised gelatin derivatives and fermentation-based nutraceuticals

Sterling Biotech is Asia's largest pharmaceutical gelatin manufacturer. It
is a leading player in India with a market share of around 60%. The company
s products find usage in the making of hard and soft capsules, vitamin
encapsulation, blood plasma expander and tablet binding in the
pharmaceutical industry.

Earlier, the company acquired Rallis India's gelatin business for Rs 47
crore in an all-cash deal.

Sterling Biotech reported a 53.6% growth in net profit for Q1 ended 30 June
2005 to Rs 26.64 crore (Rs 17.34 crore). Net sales during the quarter rose
22.7% to Rs 120.03 crore (Rs 97.80 crore).

Mastek plunged 6.7% to Rs 487 even as the company announced decent growth in Q1 September 2005 net profit

2005-10-13T02:53:00.001-07:00

The results were more or less in line with market expectations.

1.7 lakh shares changed hands in the counter on BSE.

The Mastek scrip had spurted since early September 2005. From a recent low
of Rs 419.65 on 8 September 2005, the stock had spurted to Rs 522.50 by 11
October 2005 on the eve of the results announcement.

Masteks consolidated net profit rose 23.5% in Q1 September 2005 to Rs 15.02
crore from Rs 12.16 crore in Q1 September 2004. Total income rose 17.2% to
Rs 153.09 crore (Rs 130.55 crore).

For the October-December 2005 quarter, Mastek expects consolidated net
profit of between Rs. 15.3 to Rs 16.3 crore a sequential growth of between
1.8% to 8.5%. It expects Q2 income at between Rs 159 crore to Rs 164 crore
a sequential growth of between 3.8% to 7.1%.

Meanwhile, Mastek said it had acquired U.S.-based company.

Sterling Biotech infused with vigour

2005-10-13T02:53:00.000-07:00

18.5 lakh shares changed hands in the counter on BSE.

There has been a marked increase in trading volumes in the stock since late
August 2005.

Sterling said it would use Torrent Gujarat Biotechs Baroda plant to make
specialised gelatin derivatives and fermentation-based nutraceuticals

Earlier, the company acquired Rallis India's gelatin business for Rs 47
crore in an all-cash deal.

Sterling Biotech reported a 53.6% growth in net profit for Q1 ended 30 June
2005 to Rs 26.64 crore (Rs 17.34 crore). Net sales during the quarter rose
22.7% to Rs 120.03 crore (Rs 97.80 crore).

Everest Industries builds on strong Q2 results

2005-10-13T02:52:00.000-07:00

Everest Industries jumped 5.3% to Rs 177 on the back of strong Q2 September
2005 results.

7,212 shares changed hands in the counter on BSE by afternoon trade.

The stock lost 2% on Tuesday (11 October 2005) to Rs 168.05 after the
results had hit the market after trading hours on 10 October 2005.

Over the past few months, the stock was volatile due to alternate bouts of
buying and selling. The scrip moved between a low of Rs 171 to a high of Rs
193 since late July 2005.

Everest Industries recorded 34% rise in net profit for Q2 September 2005 to
Rs 4.82 crore. Net sales rose 15% to Rs 50.99 crore.

Everest Industries is engaged in the manufacture of fibre based cement
products including sheets for roofing and interiors and non asbestos flat
sheets for varied applications including pre-fab housing.

In June this year, the company had signed up a technological tie up with
Brazil-based Brasilit Ind e Com Ltd, a wholly owned company of Saint Gobain.

Select stocks in the positive

2005-10-13T00:53:00.000-07:00

Select stocks did well through to early afternoon trade even as the Sensex
failed to sustain the higher level. Two index heavyweights Reliance
Industries and Infosys could not keep up with the earlier momentum. Stocks
like Dr Reddys Laboratories, Tisco, and Hero Honda moved lower.

Cement stocks like ACC and Gujarat Ambuja Cements (GACL) could not hold on
to earlier highs.

Select stocks, however, impressed. EIH, Arvind Mills, GHCL, Centurion Bank,
Escorts, IDBI, Jindal Stainless, Insilco, Pfizer, Wartsila India, Financial
Technologies, Aegis Logistics, Elecon Engineering, Everest Industries and
Mahindra & Mahindra moved strong.

Though the market breadth was positive, it weakened when compared to morning
trade. 1,140 stocks advanced on BSE as compared to 1,135 stocks that
declined. 67 scrips were unchanged. The advance decline ratio was a stable
around 1:1. However, morning trades saw a much better ratio, of 1.2:1.

By 12:28 IST, the Sensex had fallen 40 points to 8,499.89. The Sensex
plunged over 100 points within minutes of commencement of trading, tracking
weak global markets and a setback in Indian ADRs on Wednesday. The market
recovered from the lower level later.

Reliance Industries dipped 0.7% to Rs 782.50. 14.1 lakh shares changed hands
in the counter on BSE.

Infosys weakened by 1.2% to Rs 2,651. A sharp fall in the ADR on Wednesday
weighed on the counter. The Infy ADR had flopped 4.4% on Wednesday to $
71.46.

Saytam Computer (down 0.7% to Rs 594.50) failed to keep up with the earlier
momentum. A sharp fall in its ADR on Wednesday hurt the stock. Satyam
Computer ADR dropped 4% on Wednesday to $ 29.39.

TCS inched lower by 0.25% to Rs 1,464 on profit taking despite the company
reporting strong Q2 results. TCS, on Tuesday, reported strong Q2 results - a
net profit of Rs 694 crore for Q2 September 2005 (up 20.5%) compared to a
net profit of Rs 576 crore in Q2 September 2004. On a sequential basis, net
profit advanced over 10%. Revenues marched up 23% to Rs 2,982 crore.
Sequentially, on a quarter-on-quarter basis, revenue climbed 10.2%.

ICICI Bank edged up just 1% to Rs 543.90 ahead of its Q2 results and in
advance of that board meeting that will decide on a fresh issue of equity
capital. The stock nudged up 1% to Rs 543.90. 4.2 lakh shares chagned hands
in the counter on BSE.

Ranbaxy (down 7.5% to Rs 452) moved downward after the UK High Court on
Wednesday dismissed Ranbaxys legal challenge to the main patent protecting
Pfizers Lipitor. The stock declined on high early volume of over 15.5 lakh
shares.

Dr Reddys Laboratories dropped 4% to Rs 899.

Cigarette major ITC climbed 2.1% to Rs 130.40 on expectation of strong Q2
results. The stock rose on high volume of 12.5 lakh shares.

Siemens made headway by 2% to Rs 2,540 after the company said it has bagged
a large overseas order

Mphasis BFL moved upstream by 1.5% to Rs 263.90 on strong Q2 results and the
fixing of bonus record date.

Biotech major Biocon spurted 5% to Rs 511. 3.9 lakh shares changed hands in
the counter on BSE

Mahindra & Mahindra nudged up 0.8% to Rs 384. 76.026 shares changed hands in
the counter on BSE.

source: capitalmarket

Tata Tea gains on acquisition of a US specialty tea brand

2005-10-13T00:47:00.000-07:00

Tata Tea rose 1.2% to Rs 823 after the company said it would acquire US
specialty tea brand Good Earth Teas.

12,770 shares changed hands in the counter on BSE.

Ahead of the announcement, Tata Tea shares lost 1.2% on Tuesday (11 October
2005) to Rs 812.75. From a lifetime closing high of Rs 865.55 on 26
September 2005, the stock had slipped to Rs 812.75 by 11 October 2005.

Earlier, the stock spurted during mid-May 2005 to mid-August 2005.

Good Earth is one of the fastest growing specialist tea brands in the US,
with particular strength on the West Coast. It has a 3.7% share of the US
specialty tea market. Good Earth sells herbal, fruit-flavoured, medicinal
and traditional teas.

Good Earth will continue to blend and pack teas at its base in Santa Cruz,
California and Good Earth teas will continue to trade under the Good Earth
brand name, Tata Tea said.

In its strategic move to focus on branded tea, Tata Tea recently transferred
its 16 estates in south India to a newly formed company. Further, the
companys board has approved the merger of Tata Tetley, which is a 100%
subsidiary of the company, with the company.

Mphasis BFL rose 2.1% to Rs 265.35 on solid Q2 results and the fixing of bonus record date

2005-10-13T00:41:00.000-07:00

The stock bounced back from the lower level since late September 2005. From
a low of Rs 241.95 on 22 September 2005, the stock surged 7.3% to Rs 259.80
by 11 October 2005 on the eve of the results announcement. The results were
announced after trading hours on 11 October 2005. The market was closed on
12 October 2005 on account of Dasera.

Earlier, the stock had plunged 5.6% in a single trading session on 22
September 2005 to Rs 241.95 in a weak market.

Mphasis has reported a 28% year on year growth in Q2 September 2005
consolidated net profit to Rs 40.16 crore from Rs 31.51 crore in Q2 Septembe
2004. Revenue rose 18% to Rs 228 crore.

Mphasis, whose clients include Citigroup, left its earlier declared
full-year guidance (for the fiscal year to March 2006) unchanged. 15 new
entities were added to the company's client list, with 12 coming to the
software segment and three added to the back-office services segment.

The company said its back-office business showed flat revenue and profit
growth over the previous quarter while software revenue was up 5.5 percent
on a quarter-on-quarter basis.

Meanwhile, Mphasis has fixed 14 November 2005 as record date for issue of
1:1 bonus shares.

Large export order win powers Siemens higher

2005-10-13T00:40:00.001-07:00

Siemens gained 2.1% to Rs 2,543 after the company said it has bagged a large
overseas order.

7,244 shares changed hands in the stock on BSE by early afternoon trade.

The stock lost 1.3% on Tuesday (11 October 2005) on the eve of the
announcement to Rs 2,490.05.

The last few months saw the stock gallop on the back of strong order flow
and a healthy order book position. From a recent low of Rs 1,946.65 on 30
June 2005, the stock spurted to Rs 2,490.05 by 11 October 2005.

Siemens on Tuesday said it has bagged a turnkey export order from Qatar
General Electricity and Water Corporation (KAHRAMAA). The contract is for
the development of Power Transmission Network in Qatar. The scope of
supplies and services of the company is approximately Rs 1,390 crore,
Siemens said. The scope of the order covers setting up of new 16 High
Voltage Substations and laying of approximately 600 kms of high voltage
cables. The order is required to be executed within a period of 22 months,
it said.

At the end of Q3 June 2005, Siemens unexecuted order value as of June 30,
2005 stood at a robust Rs 3446.30 crore compared to Rs 1926.70 crore as on
June 30, 2004.

For Q3 June 2005, Siemens reported 11% growth in net profit to Rs 39.54
crore, on 34% growth in sales to Rs 597.44 crore.

Siemens AG holds 54.63% stake in Siemens, which supplies equipment and
solutions to power generation, transmission and distribution companies.