Gravity grips the market
The market plunged in opening trade tracking weakness in Asian markets, a fall in Indian ADRs on Tuesday. Sustained FII selling also contributed to the weak sentiment. IT and banking shares were the chief losers. ONGC was under pressure after oil prices hit an 18-month low on Tuesday. Index heavyweight Reliance Industries (RIL) drifted lower.
At 10:18 IST the Sensex was down 111 points, at 13,454. It had recovered from a lower level after having plunged as many as 169.07 points, to 13,397.26 by 10:05 IST.The market-breadth was negative. As many as 897 shares declined on BSE, against 913 that rose. Just 54 shares were unchanged. Losers outpaced gainers by a ratio of 1.01:1.The BSE clocked a turnover of Rs 485 crore.IT stocks extended their recent decline. IT bellwether Infosys shed 1.2% to Rs 2163, Wipro lost 1.8% to Rs 570, Satyam Computer shed 2.3% to Rs 456.90 and TCS lost 0.8% to Rs 1245.
Infosys unveils Q3 results on Thursday 11 January 2007. Seven brokerages have predicted between 4.8 - 7.3% sequential growth in Infosys’ Q3 consolidated net profit, between Rs 973.50 crore and Rs 996.70 crore compared to a net profit of Rs 929 crore in Q2 September 2006. These brokerages expect between 5.7 - 10.7% sequential growth in Infosys’ consolidated sales, between Rs 3646.60 crore and Rs 3819.20 crore, compared to net sales of Rs 3451 crore in Q2 September 2006.
iGate jumps on resounding Q3 numbers
iGate Global Solutions rose 2.3% to Rs 410, inspired by an 83.9% surge in net profit for Q3 December 2006.A strong 21,911 shares changed hands in the counter on BSE.
iGate Global Solutions reported a standalone net profit of Rs 17.05 crore for Q3 December 2006 compared to a net profit of Rs 9.27 crore for Q3 December 2005. Net sales rose 33.3% to Rs 196.03 crore (Rs 146.95 crore).
The stock had seen a solid pre-results surge on expectations of healthy numbers. From Rs 257.15 on 18 December 2006, it had galloped 55.8% to Rs 400.65 by 9 January 2007. The results hit the market before trading hours today.
The Bangalore-based software firm said it added five new clients in October-December 2006 quarter.
Shree Ashtavinayak Cine Vision volatile after decent debut
Shree Ashtavinayak Cine Vision was trading at Rs 232, compared to its issue price of Rs 160 per share.The stock debuted on BSE at an 18.12% premium, at Rs 189, and went on to strike a high of Rs 240. The scrip also fell to a low of Rs 185.The counter clocked a huge volume of 7.42 crore shares, boosted by multiple block deals.
The company is engaged in production of full-length films and has subsequently entered film distribution, its stronghold being the Mumbai territory, which also includes Gujarat, Western Maharashtra and Northern Karnataka. It has also distributed a film in the Delhi territory.
Shree Ashtavinayak Cine Vision (SAVCL) has entered the film exhibition business by tying up with 31 theatres across Mumbai territory. The company has distributed 23 films, the last being Jaan-e-man, and produced five films, including Bhagam Bhag that was released on 22 December 2006.
SAVCL came out with an issue of 33 lakh shares in a price-band of Rs 140-160 per share, which was later fixed as Rs 160 per share. The initial public offering was subscribed 6.04 times on the closing day. The issue received bids for 1.99 crore shares against 33 lakh shares offered on the NSE and the BSE.
The QIB portion has been over-subscribed 6.13 times, the non-institutional investor segment 10.67 times and retail 3.94 times.The main object of the issue was to finance the estimated expenditure of Rs 45.90 crore to produce three films, to purchase Rs 14.12-crore equipment for film production, and for general corporate purposes and repayment of debt.The company’s post-issue equity stands at Rs 10.03 crore, while post-issue promoter stake is 67.10%.The company had reported a net profit of Rs 7.47 crore on net sales of Rs 60.34 crore for the year ended March 2006.
Stock-split plan whips up interest in Deccan Chronicle
Deccan Chronicle Holdings was up 6.24% to Rs 826, but had pared gains from an all-time high of Rs 835.90 which was attained after the company said it plans to split stock.
Deccan Chronicle Holdings' board meets on 19 January 2007 to consider splitting each share of Rs 10 into five of Rs 2 each. The move is aimed at improving liquidity in the scrip.As many as 30,125 shares were traded in the counter on BSE.
The stock witnessed a steady rally in the past. From Rs 680.35 on 12 December 2006, it had advanced to Rs 777.45, by 9 January 2007, on sustained buying interest.
Deccan Chronicles Holdings had registered a net profit growth of 505% to Rs 64.31 crore for Q2 September 2006, compared to Rs 10.62 crore in Q2 September 2005. Net sales during the period rose 96% to Rs 149.22 crore from Rs 76.10 crore.
Deccan Chronicle Holdings publishes Deccan Chronicle - Andhra Pradesh's highest-circulated English language daily. The publishing house recently took control of Asian Age Holdings, which publishes The Asian Age in five cities. Deccan Chronicle Holdings wants to strengthen the Asian Age brand by increasing the print run.
At 10:18 IST the Sensex was down 111 points, at 13,454. It had recovered from a lower level after having plunged as many as 169.07 points, to 13,397.26 by 10:05 IST.The market-breadth was negative. As many as 897 shares declined on BSE, against 913 that rose. Just 54 shares were unchanged. Losers outpaced gainers by a ratio of 1.01:1.The BSE clocked a turnover of Rs 485 crore.IT stocks extended their recent decline. IT bellwether Infosys shed 1.2% to Rs 2163, Wipro lost 1.8% to Rs 570, Satyam Computer shed 2.3% to Rs 456.90 and TCS lost 0.8% to Rs 1245.
Infosys unveils Q3 results on Thursday 11 January 2007. Seven brokerages have predicted between 4.8 - 7.3% sequential growth in Infosys’ Q3 consolidated net profit, between Rs 973.50 crore and Rs 996.70 crore compared to a net profit of Rs 929 crore in Q2 September 2006. These brokerages expect between 5.7 - 10.7% sequential growth in Infosys’ consolidated sales, between Rs 3646.60 crore and Rs 3819.20 crore, compared to net sales of Rs 3451 crore in Q2 September 2006.
iGate jumps on resounding Q3 numbers
iGate Global Solutions rose 2.3% to Rs 410, inspired by an 83.9% surge in net profit for Q3 December 2006.A strong 21,911 shares changed hands in the counter on BSE.
iGate Global Solutions reported a standalone net profit of Rs 17.05 crore for Q3 December 2006 compared to a net profit of Rs 9.27 crore for Q3 December 2005. Net sales rose 33.3% to Rs 196.03 crore (Rs 146.95 crore).
The stock had seen a solid pre-results surge on expectations of healthy numbers. From Rs 257.15 on 18 December 2006, it had galloped 55.8% to Rs 400.65 by 9 January 2007. The results hit the market before trading hours today.
The Bangalore-based software firm said it added five new clients in October-December 2006 quarter.
Shree Ashtavinayak Cine Vision volatile after decent debut
Shree Ashtavinayak Cine Vision was trading at Rs 232, compared to its issue price of Rs 160 per share.The stock debuted on BSE at an 18.12% premium, at Rs 189, and went on to strike a high of Rs 240. The scrip also fell to a low of Rs 185.The counter clocked a huge volume of 7.42 crore shares, boosted by multiple block deals.
The company is engaged in production of full-length films and has subsequently entered film distribution, its stronghold being the Mumbai territory, which also includes Gujarat, Western Maharashtra and Northern Karnataka. It has also distributed a film in the Delhi territory.
Shree Ashtavinayak Cine Vision (SAVCL) has entered the film exhibition business by tying up with 31 theatres across Mumbai territory. The company has distributed 23 films, the last being Jaan-e-man, and produced five films, including Bhagam Bhag that was released on 22 December 2006.
SAVCL came out with an issue of 33 lakh shares in a price-band of Rs 140-160 per share, which was later fixed as Rs 160 per share. The initial public offering was subscribed 6.04 times on the closing day. The issue received bids for 1.99 crore shares against 33 lakh shares offered on the NSE and the BSE.
The QIB portion has been over-subscribed 6.13 times, the non-institutional investor segment 10.67 times and retail 3.94 times.The main object of the issue was to finance the estimated expenditure of Rs 45.90 crore to produce three films, to purchase Rs 14.12-crore equipment for film production, and for general corporate purposes and repayment of debt.The company’s post-issue equity stands at Rs 10.03 crore, while post-issue promoter stake is 67.10%.The company had reported a net profit of Rs 7.47 crore on net sales of Rs 60.34 crore for the year ended March 2006.
Stock-split plan whips up interest in Deccan Chronicle
Deccan Chronicle Holdings was up 6.24% to Rs 826, but had pared gains from an all-time high of Rs 835.90 which was attained after the company said it plans to split stock.
Deccan Chronicle Holdings' board meets on 19 January 2007 to consider splitting each share of Rs 10 into five of Rs 2 each. The move is aimed at improving liquidity in the scrip.As many as 30,125 shares were traded in the counter on BSE.
The stock witnessed a steady rally in the past. From Rs 680.35 on 12 December 2006, it had advanced to Rs 777.45, by 9 January 2007, on sustained buying interest.
Deccan Chronicles Holdings had registered a net profit growth of 505% to Rs 64.31 crore for Q2 September 2006, compared to Rs 10.62 crore in Q2 September 2005. Net sales during the period rose 96% to Rs 149.22 crore from Rs 76.10 crore.
Deccan Chronicle Holdings publishes Deccan Chronicle - Andhra Pradesh's highest-circulated English language daily. The publishing house recently took control of Asian Age Holdings, which publishes The Asian Age in five cities. Deccan Chronicle Holdings wants to strengthen the Asian Age brand by increasing the print run.
posted by SY at 12:21 PM
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