BHEL bags order worth 2080 crore from Syria

Bharat Heavy Electricals Ltd, the country’s largest power equipment manufacturer informed the market that they not only work in india but also middle eastern country like syria and they have bagged a Rs 2,080 crore turnkey order from the ministry of electricity, Syria for setting up two units of 200 mw each at the Tishreen thermal power plant extension.The order book soared to like 90000 crores.

Rei Agro Results – Declares QTR and Yearly Results

Rei Agro has decalred its FY 2007-2008 and March 2008 QTR results. The company’s FY 2007-2008 net sales were at Rs 1853.75 crore compared to Rs 1085.14 crore.
>Its FY 2007-2008 net profit was up at Rs 109.11 crore compared to Rs 90.50.
>Its Mar 2008 Qtr net sales stood at Rs 628.09 crore compared to Rs 368.75 crore.
>Its Mar 2008 Qtr net profit was up at Rs 22.35 crore compared to Rs 29.65 crore.

India Cements Results – Declares QTR and Yearly Results

India Cements has announced its March 2008 QTR and FY 2007-2008 results. The company’s Mar 2008 Qtr net profit at Rs 104 crore versus Rs 140 crore.Its Mar 2008 Qtr net sales were up Rs 978 crore versus Rs 575 crore.The company’s FY 2007-2008 net profit stood at Rs 637 crore versus Rs 449 crore.
>Its FY 2007-2008 net sales were up at Rs 3500 crore compared to Rs 2600 crore.
>Its FY 2007-2008 Operating Profit Margin of the company has dropped compared to 32.78% to 30.45%.

Larsen & Toubro bags order worth 1557 crore – First of a kind order

Larsen & Toubro Ltd (L&T) has informed the market that they have received one of a kind order from APPDCL for 2 x 800 MW Steam Turbine Generator package which was like the first kidn of order in india and the order is worth Rs 1557 Cr the order is using Supercritical Technology and has been received by them . The stock rose just 30 rs or so after receiving the news , you know what this news doesntintrest me much as im averaging the stock at 4000 rs , my bad i bought at high rate .Any way i will not sell it until it reaches that price.

JK Tyre & Industries Rights Issue

JK Tyre & Industries Ltd has informed the market that on the meeting that was held on june 28th 2008 they have come out with some decsion out of which rights issue is also one of the proposal ,
Rights Issue details

1. Issue Particulars: Right Issue of 1,02,64,836 Equity Shares
2. Ratio: 1:3 (One Equity Share for every three Equity Shares held as on the Record Date)
3. Price: Rs 85/- per Equity Share (i.e. Rs 10/- towards face value and Rs 75/- towards
premium per Equity Share)
4. Terms: Full amount of Rs 85/- is payable on application.

Unitech results – Good When comparing Yearly but not Quarter Results

Unitech has declared its FY 2007-2008 Results and also 2008 – March quarter results.
FY 2007-2008 Results
Net profit of Rs 1661.86 crore (Rs 16618.60 million) against Rs 1305.83 (Rs 13058.30 million).
Total Income at Rs 4280.11 (Rs 42801.10 million) against Rs 3388.09 crore (Rs 33880.90 million) to
2008 – March Qtr Results
Q4 Net profit after tax of Rs 175.84 crore against Rs 357.09 crore (Rs 3570.90 million)
Total Income has come down from Rs 8841.50 million (Rs 884.15 crore) to Rs 7596.50 million (Rs 759.65 crore).

US Market closed in Red again

Dow Jones end down by 0.93% or 106.91 points at 11,346.51, Nasdaq ends 0.25% or 5.74 points lower at 2315.63.for the Second consecutive red it clsed in red with the climbing oil prices and other factors that affected the market are .
what Moved the market ?

>Oil prices climb higher
>Reports indicate Merrill Lynch may incur additional write-downs
>Personal spending during May exceeds expectations, PCE deflator below consensus
>Anheuser-Busch rejects InBev bid

Sensex down by more than 500 points

Global market worry carried into indian market also and sensex is alsmost down by 500 points and im thinking there is more to come when the inflation data comes in if it below expectation we can see some good postive run and if its around 13 or so then we can see the market just staying in the same ground and there will be no improvement.

Global Market Melt Down – US and Asian Market Crash

US Market Crashed yesterday and so all asian markets are following the same trend now .
NASDAQ 2321.37 -79.89 -3.33%
DJIA 11453.42 -358.41 -3.03%
S&P 1283.15 -38.82 -2.94%
What Moved the market
Earnings results mixed against estimates
Goldman sees capital raises at select financial firms, issues downgrades for C and GM
Weekly jobless claims exceed expectations, unchanged from prior week
Oil prices rally to all-time high above $140 per barrel

Birla Cotsyn IPO opening on June 30 2008

About Birla Cotsyn
Birla Cotsyn started its operation in 1932 as a flagship of the Yash Birla Group, one of the largest industrial conglomerates in India. The Sprawling unit is located at Khamgaon (M.S) in the industrial belt of Central India. Birla Cotsyn (India) Limited is having Synthetic Blended Ring Spun Yarn manufacturing facility with state of Art machineries at Khamgaon. The company has excellent sales network in India and abroad for Grey and Dyed Solid Griddles, Fancy, Industrial Knitting and Sewing Ring Spun Yarns in various blends and count range from NE 8s to 60s.
About Birla Cotsyn IPO
Birla Cotsyn (India) Limited is entering the market with an IPO of [] Equity Shares aggregating Rs 144.18 Crore for cash, at a premium to be decided through a 100% Book Built Issue.
Price Band : fixed at Rs. 15/- at lower level and Rs. 18/- at upper level for equity share of Rs. 10/-.
Issue Date :Opens between June 30, 2008 to July 04, 2008.

KSK Energy Ventures IPO Final Subscription Details

KSK Energy Ventures Limited IPO which closed today may have oversubscribed fully but on the retail side not sure why it dint get fully subscribed , you know what with this market going to 14000 , im sure no retailers want to invest in ipo for now they might intrested in secondary itself as most of the stocks are below par.
KSK Energy Over subscription Details

KSK Energy oversubscribed by 1.50 times.
Non Institutional category by 1.0885 times
Qualified Institutional Buyers (QIBs) by 2.2152 times.
Retail by only 0.2215 times.

Spice Telcom on stake sale to Idea Cellular

Spice Telecom spurted today by whopping 33 percent or so and closed the day at 72.35 after opening at 54.15 , The News buzz is that Idea Cellular said it would merge Spice with itself through a share swap whereby Spice shareholders would get 49 Idea shares for every 100 Spice shares held. Idea also said that it would make an open offer for additional 20% stake to Spice Communicaton shareholders at Rs 77.30 a share. So we will see if this runs more than this or just stops there.Spice Communication is a loss making company they have license in almost 6 to 7 states and they also procie internet and broadband based services.

Hind Rectifiers Bonus Issue

Hind Rectifiers informed the market that they have approved bonus issue and they are going to give 1 equity share to all those who hold already 1 equity share, the Record date for the same will be announced here, The Stock got noticed after the bonus news and have increased by 4.8 percent to close the day at 155 rs.

Nagarjuna Construction bags order worth 333 crore

Nagarjuna Construction Company informed the market that it has bagged order worth 333 crore from 3 different clients.But the order news dint really raise the price value as it dropped today by 4.19 percent to close at 146.30 rs.When talking about the finnacial of the company they showed a net profit raise of 284.72% to Rs 52.63 crore on 40.56% increase in net sales to Rs 125.78 crore in Q4 March 2008 compared to the same qtr of 2007 .

Repo Rate and CRR Hiked again – Bank shares Fall

RBI came out with the news that its going to raise the repo rate by 50 basis point and also the CRR by 50 basis points yesterday after the market hours , this is one of the many key factors that will help in controlling the inflation and other economic data that is worrying the indian economy.This CRR hike will take effect in two stages. First, a 25 basis point hike on 5 July 2008, and another 25 basis point hike on 19 July 2008. By 19 July 2008, CRR will stand at 8.75%. This would almost suck 16000 crores from the banking system if the full 50 basis point is implemented .

So Repo Rate stands at 8.5 percent
CRR Rate stands at 8.75 percent