Dazzling start; Sensex up 87 points
The market recovered from Tuesday’s fall, tracking firm Asian markets, a surge in FII inflow and an overnight rally in key Indian ADRs.
Cement shares recovered from Tuesday’s sharp fall. However, Cipla and Tata Motors flopped today after posting Q3 results on Tuesday after trading hours.At 10:15 IST the Sensex was up 87 points, at 14,128. It rose as many as 102.61 points, to 14,143.85, by 10:09 IST.The market-breadth also was strong. For 1,288 shares rising on BSE, 462 declined and 38 were unchanged. Gainers outpaced losers by a ratio of 2.78:1.The BSE clocked a turnover of Rs 635 crore.
Cement scrips recovered. Gujarat Ambuja Cements rose 2.7% to Rs 140.65, ACC advanced 2% to Rs 1057.70 and Grasim gained 0.7% to Rs 2827. Cement shares suffered heavily on Tuesday after the government revoked the 12.5% customs duty on the commodity late on Monday (22 January).
Muted growth singes Cipla
Pharma major Cipla lost 1.89% to Rs 249, after a marginal 5.2% growth in net profit for Dec-2006 quarter.As many as 4,917 shares changed hands in the counter on BSE.
Cipla reported a marginal 5.2% growth in net profit in December 2006 quarter to Rs 184.38 crore, compared to Rs 175.31 crore in December 2005 quarter. Net sales rose 12.8% to Rs 880.54 crore (Rs 780.62 crore).
The slow growth in net profit in December 2006 quarter was primarily due to a decline in exports of bulk drugs to key regulatory markets. Cipla said all major segments performed satisfactorily in the domestic market. The company also said material costs as a percentage to income from operations, increased owing to change in product mix and lower API sales to regulated markets during the quarter.
In mid-October 2006, Cipla launched its fixed dose single pill anti-HIV drug Viraday, priced at Rs 5,200 a month, much lower than the international price of the drug of about Rs 52,800 a month. Viraday is a combination of three anti-HIV drugs -- Efavirenz 600 mg, Tenofovir 300 mg and Emtricitabine 200 mg.
Early last month, Cipla set up a wholly-owned subsidiary, Cipla FZE, at Jebel Ali Free Zone in Dubai, United Arab Emirates.
Cipla is a strong player in anti-AIDS drugs and anti-asthmatics. It has adopted a partnership strategy to penetrate the US market rather than register and sell drugs on its own.Cipla is also one of the very few drugmakers to have a range of CFC-free inhalers in the European Union.
Tata Motors overturns as Q3 numbers disappoint
Tata Motors declined 1.70% to Rs 933.90, on reporting a mere 11.5% growth in net profit for the Dec-2006 quarter.As many as 1.29 lakh shares were traded in the counter on BSE.The stock rallied ahead of the results, advancing from Rs 907.85 on 10 January 2007, to Rs 964.40 on 22 January 2007, as buying continued. Here, it slipped to Rs 950.05 by 23 January 2007, on profit-booking.
Tata Motors reported a paltry 11.5% growth in net profit for the quarter ended December 2006, to Rs 513.17 crore from Rs 460.23 crore in quarter ended December 2005. Net sales shot up 37.1%, to Rs 6956.84 crore versus Rs 5074.86 crore in the corresponding period of the previous fiscal.
Net profit without extraordinaries, forex gains/loss rose 12% in quarter ended December 2006 to Rs 381 crore, compared to Rs 339.9 crore in the quarter ended December 2005. Forex gains stand at Rs 132 crore versus a loss of Rs 43.2 crore, while other income was 14.32 crore versus 168 crore. (last year Rs 164 crore was included from sale of 20% stake in Telcon).
There was a marginal dip in international business during the quarter, as the company pulled out of some export markets to duck the adverse impact of exchange rate fluctuations.
Fiat, which recently concluded a joint venture agreement with Tata Motors, has offered to help the company in its small car project.
Tata Motors reported strong vehicles sales figures for December 2006. The company's sales rose 37% in December 2006, to 48,792 units from 35,598 units a year earlier. Tata Motors’ commercial vehicles sales rose 50% in December 2006, to 28,179 units from 18,730 units, while sales of passenger vehicles rose 27% to 16,515 units. Exports rose 7% to 4,098 units.
Recently, Tata Motors entered into a joint venture with Thonburi Automotive Assembly Plant, a Thailand-based independent assembler of automobiles to manufacture, assemble and market pickup trucks in the South East Asian country. The joint venture, in which Tata Motors will hold 70% of equity and Thonburi 30%, will see an initial investment of Rs 120 crore and manufacture pick-up vehicles at Thonburi's facility.
The venture is expected to go on stream in a year, and both partners will jointly manage the operation in Thailand.
Cement shares recovered from Tuesday’s sharp fall. However, Cipla and Tata Motors flopped today after posting Q3 results on Tuesday after trading hours.At 10:15 IST the Sensex was up 87 points, at 14,128. It rose as many as 102.61 points, to 14,143.85, by 10:09 IST.The market-breadth also was strong. For 1,288 shares rising on BSE, 462 declined and 38 were unchanged. Gainers outpaced losers by a ratio of 2.78:1.The BSE clocked a turnover of Rs 635 crore.
Cement scrips recovered. Gujarat Ambuja Cements rose 2.7% to Rs 140.65, ACC advanced 2% to Rs 1057.70 and Grasim gained 0.7% to Rs 2827. Cement shares suffered heavily on Tuesday after the government revoked the 12.5% customs duty on the commodity late on Monday (22 January).
Muted growth singes Cipla
Pharma major Cipla lost 1.89% to Rs 249, after a marginal 5.2% growth in net profit for Dec-2006 quarter.As many as 4,917 shares changed hands in the counter on BSE.
Cipla reported a marginal 5.2% growth in net profit in December 2006 quarter to Rs 184.38 crore, compared to Rs 175.31 crore in December 2005 quarter. Net sales rose 12.8% to Rs 880.54 crore (Rs 780.62 crore).
The slow growth in net profit in December 2006 quarter was primarily due to a decline in exports of bulk drugs to key regulatory markets. Cipla said all major segments performed satisfactorily in the domestic market. The company also said material costs as a percentage to income from operations, increased owing to change in product mix and lower API sales to regulated markets during the quarter.
In mid-October 2006, Cipla launched its fixed dose single pill anti-HIV drug Viraday, priced at Rs 5,200 a month, much lower than the international price of the drug of about Rs 52,800 a month. Viraday is a combination of three anti-HIV drugs -- Efavirenz 600 mg, Tenofovir 300 mg and Emtricitabine 200 mg.
Early last month, Cipla set up a wholly-owned subsidiary, Cipla FZE, at Jebel Ali Free Zone in Dubai, United Arab Emirates.
Cipla is a strong player in anti-AIDS drugs and anti-asthmatics. It has adopted a partnership strategy to penetrate the US market rather than register and sell drugs on its own.Cipla is also one of the very few drugmakers to have a range of CFC-free inhalers in the European Union.
Tata Motors overturns as Q3 numbers disappoint
Tata Motors declined 1.70% to Rs 933.90, on reporting a mere 11.5% growth in net profit for the Dec-2006 quarter.As many as 1.29 lakh shares were traded in the counter on BSE.The stock rallied ahead of the results, advancing from Rs 907.85 on 10 January 2007, to Rs 964.40 on 22 January 2007, as buying continued. Here, it slipped to Rs 950.05 by 23 January 2007, on profit-booking.
Tata Motors reported a paltry 11.5% growth in net profit for the quarter ended December 2006, to Rs 513.17 crore from Rs 460.23 crore in quarter ended December 2005. Net sales shot up 37.1%, to Rs 6956.84 crore versus Rs 5074.86 crore in the corresponding period of the previous fiscal.
Net profit without extraordinaries, forex gains/loss rose 12% in quarter ended December 2006 to Rs 381 crore, compared to Rs 339.9 crore in the quarter ended December 2005. Forex gains stand at Rs 132 crore versus a loss of Rs 43.2 crore, while other income was 14.32 crore versus 168 crore. (last year Rs 164 crore was included from sale of 20% stake in Telcon).
There was a marginal dip in international business during the quarter, as the company pulled out of some export markets to duck the adverse impact of exchange rate fluctuations.
Fiat, which recently concluded a joint venture agreement with Tata Motors, has offered to help the company in its small car project.
Tata Motors reported strong vehicles sales figures for December 2006. The company's sales rose 37% in December 2006, to 48,792 units from 35,598 units a year earlier. Tata Motors’ commercial vehicles sales rose 50% in December 2006, to 28,179 units from 18,730 units, while sales of passenger vehicles rose 27% to 16,515 units. Exports rose 7% to 4,098 units.
Recently, Tata Motors entered into a joint venture with Thonburi Automotive Assembly Plant, a Thailand-based independent assembler of automobiles to manufacture, assemble and market pickup trucks in the South East Asian country. The joint venture, in which Tata Motors will hold 70% of equity and Thonburi 30%, will see an initial investment of Rs 120 crore and manufacture pick-up vehicles at Thonburi's facility.
The venture is expected to go on stream in a year, and both partners will jointly manage the operation in Thailand.
posted by SY at 11:59 AM
0 Comments:
Post a Comment
<< Home