Update 1
i-flex has a ball as Oracle raises open offer price
i-flex solutions surged 15% to Rs 2,020, after Oracle Corp raised the open offer price for i-flex to Rs 2,100 per share.As many as 1.5 lakh shares changed hands in the counter on BSE.
Oracle now intends to raise its stake in i-flex to 90% from the earlier intent of raising its holding to 75%, from existing 55%. In September 2006, Oracle had announced an open offer for 20% stake at Rs 1,475 per share. The open offer was triggered by Oracle, raising its stake in i-flex to 55% from 52.5% through a preferential issue, at Rs 1,307.50 per share.
The revised offer represents a 20% premium to i-flex's closing stock price of Rs 1,751 on Thursday (7 December).
The market probably had an inkling of the revision in open offer price in advance, as the stock had moved up sharply over the past few days and had moved much above the open offer price of Rs 1,475. From Rs 1,596.85 on 30 November, it had surged to Rs 1,751 by 7 December.
Last month, Interbank, one of Peru's leading commercial banks, selected Reveleus Operational Risk, as its enterprise-wide operational risk management platform.
Recently, i-flex Solutions and Financial Services announced a tie-up to launch I-flex’s core banking solution, Flexicube, as a hosted offering to community banks in the US.
i-flex posted a topline growth of 43% with revenue (consolidated Indian GAAP) for the quarter ended 30 September 2006, standing at Rs 499 crore, compared with Rs 350 crore for the corresponding quarter of the previous year. The company's net income for the quarter stood at Rs 93.5 crore, representing 144% growth compared with the figures of Rs 38.4 crore during the corresponding quarter in the previous year.
An eye on realty pie, Honeywell Automation soars
Honeywell Automation India surged 10% to Rs 1,776.95, due to media reports that its building solutions division is eyeing $1 billion in sales by 2010.There were outstanding buy orders for 2,731 shares at the 10% upper limit. As many as 13,800 shares changed hands in the counter.
Honeywell Building Solution, a division of Honeywell Automation India, has unveiled various building solutions to manage all utilities and facilities for commercial office buildings, IT and BPO facilities, hotels, hospitals, data centres, telecom facilities, leisure and retail outlets, pharmaceuticals, biotechnology, industrial facilities, airports, metro rail projects, infrastructure projects, educational establishments, government facilities, defence facilities and more.
Honeywell Automation India provides integrated automation and software solutions for improving productivity and comfort as well as for ensuring the safety and security of homes and business premises. The company's current client list includes TCS, Wipro, Hyderabad Airport and the Delhi Metro. It is expected that the modernization of Airports and growth of capacity in the hospitality sectors will continue to keep the growth of the building automation products, and hence the overall sales volume.
In October 2006, Honeywell Automation India reported strong Q3 results. It reported 127% growth in net profit for Q3 September 2006 to Rs 15 crore, on 34% growth in sales to Rs 151.40 crore.
The current price of Rs 1,776.95 discounts its FY 2005 (year ended 31 December 2005) EPS of Rs 41.80, by a PE multiple of 42.5.
i-flex solutions surged 15% to Rs 2,020, after Oracle Corp raised the open offer price for i-flex to Rs 2,100 per share.As many as 1.5 lakh shares changed hands in the counter on BSE.
Oracle now intends to raise its stake in i-flex to 90% from the earlier intent of raising its holding to 75%, from existing 55%. In September 2006, Oracle had announced an open offer for 20% stake at Rs 1,475 per share. The open offer was triggered by Oracle, raising its stake in i-flex to 55% from 52.5% through a preferential issue, at Rs 1,307.50 per share.
The revised offer represents a 20% premium to i-flex's closing stock price of Rs 1,751 on Thursday (7 December).
The market probably had an inkling of the revision in open offer price in advance, as the stock had moved up sharply over the past few days and had moved much above the open offer price of Rs 1,475. From Rs 1,596.85 on 30 November, it had surged to Rs 1,751 by 7 December.
Last month, Interbank, one of Peru's leading commercial banks, selected Reveleus Operational Risk, as its enterprise-wide operational risk management platform.
Recently, i-flex Solutions and Financial Services announced a tie-up to launch I-flex’s core banking solution, Flexicube, as a hosted offering to community banks in the US.
i-flex posted a topline growth of 43% with revenue (consolidated Indian GAAP) for the quarter ended 30 September 2006, standing at Rs 499 crore, compared with Rs 350 crore for the corresponding quarter of the previous year. The company's net income for the quarter stood at Rs 93.5 crore, representing 144% growth compared with the figures of Rs 38.4 crore during the corresponding quarter in the previous year.
An eye on realty pie, Honeywell Automation soars
Honeywell Automation India surged 10% to Rs 1,776.95, due to media reports that its building solutions division is eyeing $1 billion in sales by 2010.There were outstanding buy orders for 2,731 shares at the 10% upper limit. As many as 13,800 shares changed hands in the counter.
Honeywell Building Solution, a division of Honeywell Automation India, has unveiled various building solutions to manage all utilities and facilities for commercial office buildings, IT and BPO facilities, hotels, hospitals, data centres, telecom facilities, leisure and retail outlets, pharmaceuticals, biotechnology, industrial facilities, airports, metro rail projects, infrastructure projects, educational establishments, government facilities, defence facilities and more.
Honeywell Automation India provides integrated automation and software solutions for improving productivity and comfort as well as for ensuring the safety and security of homes and business premises. The company's current client list includes TCS, Wipro, Hyderabad Airport and the Delhi Metro. It is expected that the modernization of Airports and growth of capacity in the hospitality sectors will continue to keep the growth of the building automation products, and hence the overall sales volume.
In October 2006, Honeywell Automation India reported strong Q3 results. It reported 127% growth in net profit for Q3 September 2006 to Rs 15 crore, on 34% growth in sales to Rs 151.40 crore.
The current price of Rs 1,776.95 discounts its FY 2005 (year ended 31 December 2005) EPS of Rs 41.80, by a PE multiple of 42.5.
posted by SY at 2:39 PM
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