Update 3
TCS gains on new order win
IT major TCS rose 1.2% to Rs 1202 on reports it has won a five-year outsourcing contract from UK's United Biscuits.The size of the order is not known. The scrip is hovering close to its record high of Rs 1212 of 4 December.1.2 lakh shares changed hands in the counter on BSE.
In late November 2006, TCS had won a $65-million (Rs 292.5 crore) seven-year deal from Somerfield, a UK-based small-format food retailer, to provide a range of IT services. TCS will take over the entire IT operations, asset management and planning for Somerfield.
As per recent reports, TCS and Wipro are front-runners for a multi-million outsourcing deal from UK-based telecom and networking major Cable & Wireless (C&W). The deal is estimated at $70-100 million (Rs 315-450 crore).
Last month, TCS Chief Executive S Ramadorai said TCS was getting new contracts at 5 - 10% higher billing rates. He also informed that existing contracts were being negotiated for renewal at 3 - 5% higher rates.
TCS is likely to be one of the key beneficiaries of the outsourcing boom because of its wide presence in horizontal (services line), vertical (industry), and geographical domains.
TCS had reported strong Q2 results. Its consolidated net profit grew 15% on a sequential basis, to Rs 1,018.68 crore in Q2 September 2006. Consolidated revenue rose 8% to Rs 4,494.83 crore. TCS added 58 new clients in Q2 September 2006. There was a gross addition of 8,919, and a net addition of 6,663 employees during the quarter.
Earlier last month, US software company Microsoft picked up 10% stake in TCS China, a joint venture promoted by TCS and three Chinese companies.
Tata Sons raised about Rs 900 crore in a bulk deal on 14 November 2006, selling 85 lakh shares (0.8% of paid-up share capital) of Tata Consultancy Services (TCS) at Rs 1,059 per share, over 70 lakh of which were purchased by HSBC Global Investment Funds, the Mauritius-based investment firm, for Rs 750 crore.
Ispat Industries top gainer in A group
Ispat Industries jumped 7% to Rs 12.01 and it was the top gainer from BSE’s A group.
The scrip rose on high volume of 19.8 lakh shares. The stock spurted today after the company announced that it would invest Rs 2,000 crore to scale up capacity to 5 million tonnes a year from the existing 3 million tonnes at its integrated steel plant in Maharashtra.
Adani Enterprises surged 5% to Rs 221.45. It was the second biggest gainer from BSE’a A group. A large block deal of 50 lakh shares was executed in the scrip on NSE today at Rs 208.70. Total volumes in the stock on BSE totaled 24.6 lakh shares. As per recent reports, Adani Enterprises is likely to sell its retail business to Reliance Industries with a view to focus on its core business of exports.
Sterling Biotech surged 4% to Rs 183.40, extending the sustained rise in the scrip witnessed since late October 2006. A few months back, Sterling Biotech acquired a Chinese gelatin-manufacturing unit, China Gelatin. The acquisition will enable the company to tap new growth markets in Far East Asia. Sterling Biotech posted a 27 per cent growth in net profit at Rs 36.44 crore for the quarter ended September 30, 2006. Total income rose to Rs 162.08 crore (Rs 123.06 crore).
IDBI rose 4% to Rs 82.55. The stock continues to be boosted by recent reports that it expects to receive Rs 1500 crore from recovery of bad loans in the year to March 2007.
IT major TCS rose 1.2% to Rs 1202 on reports it has won a five-year outsourcing contract from UK's United Biscuits.The size of the order is not known. The scrip is hovering close to its record high of Rs 1212 of 4 December.1.2 lakh shares changed hands in the counter on BSE.
In late November 2006, TCS had won a $65-million (Rs 292.5 crore) seven-year deal from Somerfield, a UK-based small-format food retailer, to provide a range of IT services. TCS will take over the entire IT operations, asset management and planning for Somerfield.
As per recent reports, TCS and Wipro are front-runners for a multi-million outsourcing deal from UK-based telecom and networking major Cable & Wireless (C&W). The deal is estimated at $70-100 million (Rs 315-450 crore).
Last month, TCS Chief Executive S Ramadorai said TCS was getting new contracts at 5 - 10% higher billing rates. He also informed that existing contracts were being negotiated for renewal at 3 - 5% higher rates.
TCS is likely to be one of the key beneficiaries of the outsourcing boom because of its wide presence in horizontal (services line), vertical (industry), and geographical domains.
TCS had reported strong Q2 results. Its consolidated net profit grew 15% on a sequential basis, to Rs 1,018.68 crore in Q2 September 2006. Consolidated revenue rose 8% to Rs 4,494.83 crore. TCS added 58 new clients in Q2 September 2006. There was a gross addition of 8,919, and a net addition of 6,663 employees during the quarter.
Earlier last month, US software company Microsoft picked up 10% stake in TCS China, a joint venture promoted by TCS and three Chinese companies.
Tata Sons raised about Rs 900 crore in a bulk deal on 14 November 2006, selling 85 lakh shares (0.8% of paid-up share capital) of Tata Consultancy Services (TCS) at Rs 1,059 per share, over 70 lakh of which were purchased by HSBC Global Investment Funds, the Mauritius-based investment firm, for Rs 750 crore.
Ispat Industries top gainer in A group
Ispat Industries jumped 7% to Rs 12.01 and it was the top gainer from BSE’s A group.
The scrip rose on high volume of 19.8 lakh shares. The stock spurted today after the company announced that it would invest Rs 2,000 crore to scale up capacity to 5 million tonnes a year from the existing 3 million tonnes at its integrated steel plant in Maharashtra.
Adani Enterprises surged 5% to Rs 221.45. It was the second biggest gainer from BSE’a A group. A large block deal of 50 lakh shares was executed in the scrip on NSE today at Rs 208.70. Total volumes in the stock on BSE totaled 24.6 lakh shares. As per recent reports, Adani Enterprises is likely to sell its retail business to Reliance Industries with a view to focus on its core business of exports.
Sterling Biotech surged 4% to Rs 183.40, extending the sustained rise in the scrip witnessed since late October 2006. A few months back, Sterling Biotech acquired a Chinese gelatin-manufacturing unit, China Gelatin. The acquisition will enable the company to tap new growth markets in Far East Asia. Sterling Biotech posted a 27 per cent growth in net profit at Rs 36.44 crore for the quarter ended September 30, 2006. Total income rose to Rs 162.08 crore (Rs 123.06 crore).
IDBI rose 4% to Rs 82.55. The stock continues to be boosted by recent reports that it expects to receive Rs 1500 crore from recovery of bad loans in the year to March 2007.
posted by SY at 6:10 PM
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