Market goes from bad to worse
The market which had opened strong, started declining sharply due to profit- booking at the higher level. At 11:36 IST the BSE Sensex was down a steep 138.08 points, at 14,079.23.
The BSE benchmark index had opened with a spurt, at 14,271.24, and surged to a high of 14,300.11, buoyed by stronger-than-expected results of index heavyweight Reliance Industries (RIL) and a fall in global crude oil prices.
Immediately after, selling began and continued till the benchmark index slipped to a low of 14,067.52.The total turnover on BSE amounted to Rs 1458 crore.The market-breadth turned negative as small-cap and mid-cap stocks came under pressure. For 1,539 shares declining, 884 advanced and 48 remained unchanged.Among the 30-Sensex pack, 25 declined while the rest advanced.
Cigarette major ITC was the top gainer, up 1.57% to Rs 174.65, on a volume of 5.34 lakh shares.
BOC India deflates on embarassing numbers
BOC India dropped nearly 5% to Rs 157, after it reported 65.8% fall in net profit in December 2006 quarter.As many as 84,997 shares changed hands in the counter on BSE.
The stock was range-bound since mid-December 2006 and failed to cash in on the rally in small-caps and mid-caps during this period. The stock fluctuated between Rs 160 and Rs 173, between 13 December 2006 and 18 January 2007. Results hit the market after trading hours on Thursday (18 January).
BOC India reported a sharp fall in net profit in December 2006 quarter, to Rs 3.77 crore (Rs 11.04 crore). Net sales declined to Rs 115.29 crore (Rs 163.31 crore).
The company said performance in Q3 December 2006 was impacted by a shutdown of a plant at Jamshedpur for 20 days. The company continues to monitor its condition, and will opt for planned shutdowns to rectify the situation in future.
In September 2006, Linde Germany completed the acquisition of BOC Group, UK, the parent company of BOC India. The British parent continues to hold 54.8% stake in BOC India.
BOC India (BOCI) is the largest industrial gases producing and engineering company in India. Nearly 70% of BOC’s revenue comes from the steel sector, and the rest from industries such as fertiliser, refinery, pharmaceutical, automobiles, agriculture, chemicals, medical and food-processing.
BOCI has set up a special purpose vehicle, Bellary Oxygen Company, for implementing and operating long-term gas supply contracts entered with JSW Steel. Bellary Oxygen Company is a 50:50 joint venture between the company and Inox Air Products.
JK Lakshmi Cement marches ahead on bumper results
JK Lakshmi Cement rose 4.6% to Rs 176.25, after it reported 386% surge in net profit for December 2006 quarter.A strong 5.8 lakh shares changed hands in the counter on BSE.The stock witnessed a solid pre-results' rally. From Rs 140.85 on 10 January, it spurted 19.5% to Rs 168.35 by 18 January. The results hit the market after trading hours on 18 January.
JK Lakshmi Cement reported 386% surge in net profit during the December 2006 quarter, to Rs 55.06 crore. Net sales jumped 50% to Rs 228.64 crore. For 9-months April-September 2006, net profit rose 269% to Rs 117.28 crore and net sales 44% to Rs 580.59 crore.
JK Lakshmi Cement is a lead player in north India. Rajasthan and Gujarat account for 70% of JK Lakshmi Cement’s sales, while Mumbai accounts for 8%. The balance is sold in Haryana, Delhi and Punjab. The company has planned a capacity expansion of 1 million tonnes by March 2008. It is also setting up a captive thermal power generation plant of 36 Mw, which will bring down its power cost.
The current price of Rs 176.25 discounts its April-December 2006 annualised EPS of Rs 27.40, by a PE multiple of 6.43.
The BSE benchmark index had opened with a spurt, at 14,271.24, and surged to a high of 14,300.11, buoyed by stronger-than-expected results of index heavyweight Reliance Industries (RIL) and a fall in global crude oil prices.
Immediately after, selling began and continued till the benchmark index slipped to a low of 14,067.52.The total turnover on BSE amounted to Rs 1458 crore.The market-breadth turned negative as small-cap and mid-cap stocks came under pressure. For 1,539 shares declining, 884 advanced and 48 remained unchanged.Among the 30-Sensex pack, 25 declined while the rest advanced.
Cigarette major ITC was the top gainer, up 1.57% to Rs 174.65, on a volume of 5.34 lakh shares.
BOC India deflates on embarassing numbers
BOC India dropped nearly 5% to Rs 157, after it reported 65.8% fall in net profit in December 2006 quarter.As many as 84,997 shares changed hands in the counter on BSE.
The stock was range-bound since mid-December 2006 and failed to cash in on the rally in small-caps and mid-caps during this period. The stock fluctuated between Rs 160 and Rs 173, between 13 December 2006 and 18 January 2007. Results hit the market after trading hours on Thursday (18 January).
BOC India reported a sharp fall in net profit in December 2006 quarter, to Rs 3.77 crore (Rs 11.04 crore). Net sales declined to Rs 115.29 crore (Rs 163.31 crore).
The company said performance in Q3 December 2006 was impacted by a shutdown of a plant at Jamshedpur for 20 days. The company continues to monitor its condition, and will opt for planned shutdowns to rectify the situation in future.
In September 2006, Linde Germany completed the acquisition of BOC Group, UK, the parent company of BOC India. The British parent continues to hold 54.8% stake in BOC India.
BOC India (BOCI) is the largest industrial gases producing and engineering company in India. Nearly 70% of BOC’s revenue comes from the steel sector, and the rest from industries such as fertiliser, refinery, pharmaceutical, automobiles, agriculture, chemicals, medical and food-processing.
BOCI has set up a special purpose vehicle, Bellary Oxygen Company, for implementing and operating long-term gas supply contracts entered with JSW Steel. Bellary Oxygen Company is a 50:50 joint venture between the company and Inox Air Products.
JK Lakshmi Cement marches ahead on bumper results
JK Lakshmi Cement rose 4.6% to Rs 176.25, after it reported 386% surge in net profit for December 2006 quarter.A strong 5.8 lakh shares changed hands in the counter on BSE.The stock witnessed a solid pre-results' rally. From Rs 140.85 on 10 January, it spurted 19.5% to Rs 168.35 by 18 January. The results hit the market after trading hours on 18 January.
JK Lakshmi Cement reported 386% surge in net profit during the December 2006 quarter, to Rs 55.06 crore. Net sales jumped 50% to Rs 228.64 crore. For 9-months April-September 2006, net profit rose 269% to Rs 117.28 crore and net sales 44% to Rs 580.59 crore.
JK Lakshmi Cement is a lead player in north India. Rajasthan and Gujarat account for 70% of JK Lakshmi Cement’s sales, while Mumbai accounts for 8%. The balance is sold in Haryana, Delhi and Punjab. The company has planned a capacity expansion of 1 million tonnes by March 2008. It is also setting up a captive thermal power generation plant of 36 Mw, which will bring down its power cost.
The current price of Rs 176.25 discounts its April-December 2006 annualised EPS of Rs 27.40, by a PE multiple of 6.43.
posted by SY at 12:20 PM
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