Update 4
Cement scrips call the shots
Cement scrips dominated the indices on strong purchases anticipating firm cement prices. The Sensex surged to a fresh intra-day high of 13,494.93, as buying intensified. It had hit a record 14,035.30 on 6 December 2006.
At 14:45 IST the Sensex was up 263.64 points (2%), at 13,446.65. It had opened firm, at 13,256.81, as buying continued following a 186-point rally on Wednesday. Its low for the day is 13,239.79.The BSE clocked a turnover of Rs 3,649 crore.
The market-breadth was rock solid as a host of small-cap and mid-cap counters rallied on high volumes. For 2,016 shares rising on BSE, just 473 declined. As many as 60 shares were unchanged. Gainers outpaced losers by a ratio of 4:1.Among the 30-Sensex pack, 29 advanced while Hero Honda (down 0.75% to Rs 713.30) was the lone loser.
Punj Lloyd leaps on joining outsourcing bandwagon
Punj Lloyd rose 8% to Rs 1,009, after the company said on Thursday it had set up a new company offering back-office engineering services.As many as 2.9 lakh shares changed hands in the counter on BSE.
The new engineering services outsourcing firm, Simon Carves India, has been set up as a wholly-owned subsidiary of Punj Lloyd. It will initially cater to the Group's engineering requirements. Gradually, it will also take outsourcing contracts from other companies.
Engineering Services Outsourcing (ESO) holds tremendous potential because of robust growth across Europe, Asia and US, leading to significant development in the engineering services sector, the company said. Reports indicate that India has the potential to garner around 25% of the global ESO pie, worth around $50 billion by 2020, it said. Currently, the ESO market is worth around $15 billion with India garnering a healthy 12% share, it added.
Strong order flow had seen the Punj Lloyd stock surge from late October 2006 to early-December 2006. From Rs 753.35 on 31 October, it had risen 47.4% to Rs 1,110.85 on 1 December. It had declined to Rs 911.55 on 12 December, before recovering to Rs 933.60 by 13 December.
Earlier this month, Punj Lloyd Group bagged a big contract for construction of a polyethylene plant from PTT Polyethylene Company, Thailand.
Kale Consultants takes off on getting new client
Kale Consultants rose 6% to Rs 96.90, after global airline alliance, SkyTeam, opted for APEX, the company's industry-standard proration solution.A total of 68,166 shares changed hands in the counter on BSE.
With this development, the company adds the entire global airline alliance of SkyTeam including Air France KLM, Korean Air, Alitalia, CSA, Aeromexico, Aeroflot to its customer list, Kale said in a statement. APEX helps the airlines to simplify complicated itinerary pricing, determine sector revenue and calculate accurate profitability. The efficient technical architecture of APEX has made it the best-of-breed proration system in the airline sector, according to the company.
Last month, EVA Airways Corporation, a part of Taiwan's Evergreen Group, signed a five-year contract with Kale for implementing Apex.
Hazoor Media & Power to declare dividend
Hazoor Media & Power decided to have an annual general meeting Jan. 04, 2007 to declare the dividend.
In the meeting, the company will also consider the appointment of statutory auditors of the company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting.The meeting will also consider changing the name of the company from `Hazoor Media & Power` to `Hazoor Multi Projects`.
Zee Telefilms rises on demerger
The shares of Zee Telefilms climbed 5.30% at the BSE (2.56 p.m) after the company said that it shall de-merge itself into three companies effective Dec. 18.
Currently, the shares are trading at Rs 352.50 at BSE compared to the previous day`s close of Rs 334.75 (Wednesday). A total of 1,634,631 shares have changed hands at the bourses so far.
Zee Telefilms will split itself into three entities effective Dec. 18, following an approval from Bombay high court. As per the plans envisaged, it has demerged its cable distribution subsidiary into Wire & Wireless India (WWIL) and its regional and news broadcasting undertaking into Zee News (ZNL).
Shareholders of Zee Telefilms would receive 45 shares of Zee News and 50 shares of WWIL for every 100 shares they hold in Zee Telefilms. Both companies would be listed independently, after relevant approvals from the stock exchange. The listing is likely to take place Jan. 2007.The demerged Zee Telefilms (including the direct consumer business undertaking) would continue to trade on the stock exchanges.
MSK Projects India declares 10% dividend
MSK Projects India declared a 10% dividend on its equity shares for the year ended Mar. 31, 2006.
The company considered the re-appointment of Chandrakant & Seventilal and J. K. Shah & company, chartered accountants, as statutory auditors of the company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting.The above decisions were taken at the 12th Annual General Meeting of the company held on Dec. 14, 2006.
Cement scrips dominated the indices on strong purchases anticipating firm cement prices. The Sensex surged to a fresh intra-day high of 13,494.93, as buying intensified. It had hit a record 14,035.30 on 6 December 2006.
At 14:45 IST the Sensex was up 263.64 points (2%), at 13,446.65. It had opened firm, at 13,256.81, as buying continued following a 186-point rally on Wednesday. Its low for the day is 13,239.79.The BSE clocked a turnover of Rs 3,649 crore.
The market-breadth was rock solid as a host of small-cap and mid-cap counters rallied on high volumes. For 2,016 shares rising on BSE, just 473 declined. As many as 60 shares were unchanged. Gainers outpaced losers by a ratio of 4:1.Among the 30-Sensex pack, 29 advanced while Hero Honda (down 0.75% to Rs 713.30) was the lone loser.
Punj Lloyd leaps on joining outsourcing bandwagon
Punj Lloyd rose 8% to Rs 1,009, after the company said on Thursday it had set up a new company offering back-office engineering services.As many as 2.9 lakh shares changed hands in the counter on BSE.
The new engineering services outsourcing firm, Simon Carves India, has been set up as a wholly-owned subsidiary of Punj Lloyd. It will initially cater to the Group's engineering requirements. Gradually, it will also take outsourcing contracts from other companies.
Engineering Services Outsourcing (ESO) holds tremendous potential because of robust growth across Europe, Asia and US, leading to significant development in the engineering services sector, the company said. Reports indicate that India has the potential to garner around 25% of the global ESO pie, worth around $50 billion by 2020, it said. Currently, the ESO market is worth around $15 billion with India garnering a healthy 12% share, it added.
Strong order flow had seen the Punj Lloyd stock surge from late October 2006 to early-December 2006. From Rs 753.35 on 31 October, it had risen 47.4% to Rs 1,110.85 on 1 December. It had declined to Rs 911.55 on 12 December, before recovering to Rs 933.60 by 13 December.
Earlier this month, Punj Lloyd Group bagged a big contract for construction of a polyethylene plant from PTT Polyethylene Company, Thailand.
Kale Consultants takes off on getting new client
Kale Consultants rose 6% to Rs 96.90, after global airline alliance, SkyTeam, opted for APEX, the company's industry-standard proration solution.A total of 68,166 shares changed hands in the counter on BSE.
With this development, the company adds the entire global airline alliance of SkyTeam including Air France KLM, Korean Air, Alitalia, CSA, Aeromexico, Aeroflot to its customer list, Kale said in a statement. APEX helps the airlines to simplify complicated itinerary pricing, determine sector revenue and calculate accurate profitability. The efficient technical architecture of APEX has made it the best-of-breed proration system in the airline sector, according to the company.
Last month, EVA Airways Corporation, a part of Taiwan's Evergreen Group, signed a five-year contract with Kale for implementing Apex.
Hazoor Media & Power to declare dividend
Hazoor Media & Power decided to have an annual general meeting Jan. 04, 2007 to declare the dividend.
In the meeting, the company will also consider the appointment of statutory auditors of the company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting.The meeting will also consider changing the name of the company from `Hazoor Media & Power` to `Hazoor Multi Projects`.
Zee Telefilms rises on demerger
The shares of Zee Telefilms climbed 5.30% at the BSE (2.56 p.m) after the company said that it shall de-merge itself into three companies effective Dec. 18.
Currently, the shares are trading at Rs 352.50 at BSE compared to the previous day`s close of Rs 334.75 (Wednesday). A total of 1,634,631 shares have changed hands at the bourses so far.
Zee Telefilms will split itself into three entities effective Dec. 18, following an approval from Bombay high court. As per the plans envisaged, it has demerged its cable distribution subsidiary into Wire & Wireless India (WWIL) and its regional and news broadcasting undertaking into Zee News (ZNL).
Shareholders of Zee Telefilms would receive 45 shares of Zee News and 50 shares of WWIL for every 100 shares they hold in Zee Telefilms. Both companies would be listed independently, after relevant approvals from the stock exchange. The listing is likely to take place Jan. 2007.The demerged Zee Telefilms (including the direct consumer business undertaking) would continue to trade on the stock exchanges.
MSK Projects India declares 10% dividend
MSK Projects India declared a 10% dividend on its equity shares for the year ended Mar. 31, 2006.
The company considered the re-appointment of Chandrakant & Seventilal and J. K. Shah & company, chartered accountants, as statutory auditors of the company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting.The above decisions were taken at the 12th Annual General Meeting of the company held on Dec. 14, 2006.
posted by SY at 3:55 PM
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