A blazing start; Nifty pierces 4,000 mark
The market extended Thursday’s solid surge, tracking firm Asian markets and a rise in Indian ADRs on Thursday.Banking, IT and auto shares led the surge in opening trade.
At 10:18 IST the Sensex was up 184 points, at 13,814. It came off the higher level after having risen as many as 240.78 points, to 13,871.49 at 10:07 IST.The S&P CNX Nifty was up 1.3% at 3,994.40. Nifty also hit a high of 4,006.05.The market-breadth was strong. Against 1,485 shares rising on BSE, 390 declined. Just 30 shares were unchanged. Gainers outpaced losers by a ratio of 3.8:1.The BSE clocked a turnover of Rs 739 crore.
Banks, across the board, rallied. State Bank of India spurted 5% to Rs 1208, ICICI Bank rose 4.7% to Rs 937 and HDFC Bank gained 3% to Rs 1030. On Thursday, ICICI Bank ADR rose nearly 5% to $42.92 and HDFC Bank ADR gained 2.3% to $72.64.
UTI Bank was up 1.7% to Rs 489 ahead of its Q3 results, which are due today. UTI Bank announces its third quarter results on Friday 12 January 2007. Five brokerages expect between 29.7 - 31.7% growth in the private sector bank’s Q3 December 2006 net profit, between Rs 170.80 crore and Rs 173.58 crore, compared to a net profit of Rs 131.71 crore in Q3 December 2005. Four out of these five brokerages predict between 34 - 42.2% in UTI Bank’s net interest income (NII) to between Rs 385.20 crore to Rs 408.80 crore, compared to NII of Rs 287.44 crore in Q3 December 2005. One brokerage expects 35.2% surge in UTI Bank’s net total income (net interest income plus other income) at Rs 623.10 crore from Rs 460.86 crore in Q3 December 2005.
IT shares extended Thursday’s rally. TCS rose 3% to Rs 1318. TCS unveils Q3 results on 15 January. Eight brokerages expect between 4.4 - 13.9% sequential growth in TCS’ December 2006 quarter consolidated net profit as per US GAAP, between Rs 1035.30 crore and Rs 1128.80 crore, compared to a net profit of Rs 991.50 crore in September 2006 quarter. All eight brokerages expect between 6.2 - 8.2% sequential growth in TCS’ Q3 consolidated revenue as per US GAAP, between Rs 4759.30 crore and Rs 4848.90 crore.
Jaiprakash Associates jumps on wonderful Q3 numbers
Jaiprakash Associates rose 1.6% to Rs 718.50, after the engineering and construction firm reported an 82% surge in net profit for Q3 December 2006.As many as 25,034 shares changed hands in the counter on BSE.
Jaiprakash Associates reported an 82% surge in net profit for December 2006 quarter to Rs 102 crore (Rs 56 crore). Total income rose 13.5% to Rs 931 crore from Rs 820 crore. The company also announced an interim dividend of Rs 2 per share.
Jaiprakash Associates has of late consolidated its expertise in hydro power projects, where it focuses right from build-own-operate (BOO) basis to engineering, procurement, construction (EPC) contracts, besides executing construction contracts ranging from 300 Mw to 1,500 Mw. The company has a presence in the cement business as also in the hospitality segment.
During May 2006, equity index provider MSCI Barra added Jaiprakash Associates to its Morgan Stanley Capital International (MSCI) standard index series following its May 2006 Annual Full Country Index Review. The changes took effect at the close of 31 May 2006.
Marico rallies as board clears stock-split
Marico jumped 6.63% to Rs 577, after its board approved splitting equity shares in 1:10 ratio.The board at a meeting held on 12 Jan 2007, decided to break up each equity share of Rs 10 into 10 of Re 1.The stock had also surged to a high of Rs 598. Volumes in the counter were high, at 37,415 shares, compared to an average daily volume of 24,205 shares on a yearly basis.Stock-splits boost liquidity in the counter.
Marico has been under pressure since the past few weeks. From Rs 562.45 on 15 December, it declined to Rs 531.95 by 10 January 2007, as selling continued.
In December 2006, FMCG major Marico acquired an Egyptian hair cream and hair gel brand HairCode from Cairo-based Pyramids Group. The company said the Pyramids Group, which has manufacturing plants in Egypt, will continue to distribute the brand for some more time. The Pyramids group has also agreed for a non-compete agreement in certain segments with Marico, which had purchased another big Egyptian hair care brand called Fiancee in September this year.
HairCode is already a leading brand in the Egyptian hair care market. Marico will start producing the product in Egypt in some time and would use its distribution network, company sources said.
Marico has hair, skin and general healthcare brands in India and other markets. Marico's annualised global turnover for the fiscal 2006-07 is about Rs 1,500 crore ($330 million) arising from a pure brand play. Marico's leading brands include Parachute, Saffola, Kaya, Sundari, Hair & Care, Fiancee, Shanti, Nihar and Mediker.
Marico has acquired a slew of smaller brands over the past two years, to acquire a footprint in regions where it sees growth potential. The company has also forayed into hair conditioners (Silk n Shine), male grooming (Parachute after shower cream) and baby care (Sparsh baby oil).
The overseas sales franchise of Marico's consumer products and services is presently at Rs 180 crore. Marico's branded products are sold in the SAARC countries and the Middle East. The company has 47 Kaya Skin Clinics in India and UAE now, while its Sundari range of spa skin care products are present in the US and a few other countries.
The company has been actively pursuing expansion for its brands in Bangladesh and West Asia, with considerable success. The international business contributes only about 12% of Marico's current revenue. The company's international business has been growing at a faster pace compared to the domestic business in the past year.
Marico’s Q2 September 2006 net profit rose 43.70%, to Rs 35.68 crore (Rs 24.83 crore). Net sales increased 35.10% to Rs 341.20 crore (Rs 252.53 crore).
At 10:18 IST the Sensex was up 184 points, at 13,814. It came off the higher level after having risen as many as 240.78 points, to 13,871.49 at 10:07 IST.The S&P CNX Nifty was up 1.3% at 3,994.40. Nifty also hit a high of 4,006.05.The market-breadth was strong. Against 1,485 shares rising on BSE, 390 declined. Just 30 shares were unchanged. Gainers outpaced losers by a ratio of 3.8:1.The BSE clocked a turnover of Rs 739 crore.
Banks, across the board, rallied. State Bank of India spurted 5% to Rs 1208, ICICI Bank rose 4.7% to Rs 937 and HDFC Bank gained 3% to Rs 1030. On Thursday, ICICI Bank ADR rose nearly 5% to $42.92 and HDFC Bank ADR gained 2.3% to $72.64.
UTI Bank was up 1.7% to Rs 489 ahead of its Q3 results, which are due today. UTI Bank announces its third quarter results on Friday 12 January 2007. Five brokerages expect between 29.7 - 31.7% growth in the private sector bank’s Q3 December 2006 net profit, between Rs 170.80 crore and Rs 173.58 crore, compared to a net profit of Rs 131.71 crore in Q3 December 2005. Four out of these five brokerages predict between 34 - 42.2% in UTI Bank’s net interest income (NII) to between Rs 385.20 crore to Rs 408.80 crore, compared to NII of Rs 287.44 crore in Q3 December 2005. One brokerage expects 35.2% surge in UTI Bank’s net total income (net interest income plus other income) at Rs 623.10 crore from Rs 460.86 crore in Q3 December 2005.
IT shares extended Thursday’s rally. TCS rose 3% to Rs 1318. TCS unveils Q3 results on 15 January. Eight brokerages expect between 4.4 - 13.9% sequential growth in TCS’ December 2006 quarter consolidated net profit as per US GAAP, between Rs 1035.30 crore and Rs 1128.80 crore, compared to a net profit of Rs 991.50 crore in September 2006 quarter. All eight brokerages expect between 6.2 - 8.2% sequential growth in TCS’ Q3 consolidated revenue as per US GAAP, between Rs 4759.30 crore and Rs 4848.90 crore.
Jaiprakash Associates jumps on wonderful Q3 numbers
Jaiprakash Associates rose 1.6% to Rs 718.50, after the engineering and construction firm reported an 82% surge in net profit for Q3 December 2006.As many as 25,034 shares changed hands in the counter on BSE.
Jaiprakash Associates reported an 82% surge in net profit for December 2006 quarter to Rs 102 crore (Rs 56 crore). Total income rose 13.5% to Rs 931 crore from Rs 820 crore. The company also announced an interim dividend of Rs 2 per share.
Jaiprakash Associates has of late consolidated its expertise in hydro power projects, where it focuses right from build-own-operate (BOO) basis to engineering, procurement, construction (EPC) contracts, besides executing construction contracts ranging from 300 Mw to 1,500 Mw. The company has a presence in the cement business as also in the hospitality segment.
During May 2006, equity index provider MSCI Barra added Jaiprakash Associates to its Morgan Stanley Capital International (MSCI) standard index series following its May 2006 Annual Full Country Index Review. The changes took effect at the close of 31 May 2006.
Marico rallies as board clears stock-split
Marico jumped 6.63% to Rs 577, after its board approved splitting equity shares in 1:10 ratio.The board at a meeting held on 12 Jan 2007, decided to break up each equity share of Rs 10 into 10 of Re 1.The stock had also surged to a high of Rs 598. Volumes in the counter were high, at 37,415 shares, compared to an average daily volume of 24,205 shares on a yearly basis.Stock-splits boost liquidity in the counter.
Marico has been under pressure since the past few weeks. From Rs 562.45 on 15 December, it declined to Rs 531.95 by 10 January 2007, as selling continued.
In December 2006, FMCG major Marico acquired an Egyptian hair cream and hair gel brand HairCode from Cairo-based Pyramids Group. The company said the Pyramids Group, which has manufacturing plants in Egypt, will continue to distribute the brand for some more time. The Pyramids group has also agreed for a non-compete agreement in certain segments with Marico, which had purchased another big Egyptian hair care brand called Fiancee in September this year.
HairCode is already a leading brand in the Egyptian hair care market. Marico will start producing the product in Egypt in some time and would use its distribution network, company sources said.
Marico has hair, skin and general healthcare brands in India and other markets. Marico's annualised global turnover for the fiscal 2006-07 is about Rs 1,500 crore ($330 million) arising from a pure brand play. Marico's leading brands include Parachute, Saffola, Kaya, Sundari, Hair & Care, Fiancee, Shanti, Nihar and Mediker.
Marico has acquired a slew of smaller brands over the past two years, to acquire a footprint in regions where it sees growth potential. The company has also forayed into hair conditioners (Silk n Shine), male grooming (Parachute after shower cream) and baby care (Sparsh baby oil).
The overseas sales franchise of Marico's consumer products and services is presently at Rs 180 crore. Marico's branded products are sold in the SAARC countries and the Middle East. The company has 47 Kaya Skin Clinics in India and UAE now, while its Sundari range of spa skin care products are present in the US and a few other countries.
The company has been actively pursuing expansion for its brands in Bangladesh and West Asia, with considerable success. The international business contributes only about 12% of Marico's current revenue. The company's international business has been growing at a faster pace compared to the domestic business in the past year.
Marico’s Q2 September 2006 net profit rose 43.70%, to Rs 35.68 crore (Rs 24.83 crore). Net sales increased 35.10% to Rs 341.20 crore (Rs 252.53 crore).
posted by SY at 11:50 AM
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