Market opens on a firm note
The market opened on a firm note as short covering continued ahead of expiry of January 2007 derivatives contracts.
At 10:25 IST, the BSE Sensex was up 34.84 points to 14145.30. It opened higher at 14151.62 and surged to hit a high of 14209.41. Its low is at 14137.82.The total turnover on BSE amounted to Rs 612 crore.The market breadth was strong on BSE with 1267 shares advancing as compared to 596 that declined. 31 shares remained unchanged.Among the Sensex pack, 24 advanced while the rest declined.Tata Steel was the top gainer, up 1.94% to Rs 490.80 on 1.02 lakh shares.
Stock split proposal boosts Max India
Max India jumped nearly 5% to Rs 1021 after the company’s board on Wednesday board approved a 5-for-1 stock split.The stock rose on high early volume of 1.7 lakh shares on BSE.The stock had firmed up since early this month when investors made beeline for small-cap and mid-cap shares. From Rs 857.80 on 8 January 2007, the stock had risen 13.4% to Rs 973.55.
The current face value per share is Rs 10 which will be reduced to Rs 2 after stock split.Max India also announced a surge in net profit on Wednesday to Rs 3.85 crore in December 2005 quarter from Rs 2.42 crore in the same period last year. Net sales rose 30.4% to Rs 45.62 crore from Rs 34.97 crore.
Max India is a diversified firm with interests in life insurance, health care, speciality plastics and clinical research.
Balaji Telefilms firmly in the picture on good Q3 show
Balaji Telefilms rose 3.5% to Rs 127.50 after it reported 49% growth in net profit in December 2006 quarter.48,881 shares changed hands in the counter on BSE.The stock had failed to participate in rally in small-cap and mid-cap stocks witnessed since mid-December 2006. The stock was range bound since mid-December 2006. It moved between Rs 123 to Rs 138 since 12 December 2006.
Balaji Telefilms reported a 49% surge in net profit in December 2006 quarter to Rs 21.77 crore (Rs 14.60 crore). Income from operations rose 21.4%to Rs 85.02 crore (Rs 69.98 rore).
Along with Q3 results, Balaji’s board on Wednesday also approved formation of wholly owned subsidiary for undertaking films business whereby by the existing film production business will be transferred to this subsidiary. Film production is a relatively new business for Balaji Telefilms. Reports suggest that the company plans to make around five to six movies. In film production, the company’s focus is low budget movies to get maximum returns and reduce downside risks.
Balaji Telefilms dominates the television content business. It provides content to most Hindi satellite channels, Gemini in Telugu and Udaya in Kannada. The company derives close to 90% of revenues from commissioned programmes. In this arrangement, the broadcaster undertakes to market, and also pockets advertising revenues while paying the content provider an agreed fee. Balaji Telefilms enjoys such a relationship with Star Plus.
The company intends to broaden its content base by adding new genres. In addition, Balaji is planning to set up its offices in Sharjah and Dubai. The programmes shown there will be commissioned programmes.
Balaji Telefilms is a debt free entity.
At 10:25 IST, the BSE Sensex was up 34.84 points to 14145.30. It opened higher at 14151.62 and surged to hit a high of 14209.41. Its low is at 14137.82.The total turnover on BSE amounted to Rs 612 crore.The market breadth was strong on BSE with 1267 shares advancing as compared to 596 that declined. 31 shares remained unchanged.Among the Sensex pack, 24 advanced while the rest declined.Tata Steel was the top gainer, up 1.94% to Rs 490.80 on 1.02 lakh shares.
Stock split proposal boosts Max India
Max India jumped nearly 5% to Rs 1021 after the company’s board on Wednesday board approved a 5-for-1 stock split.The stock rose on high early volume of 1.7 lakh shares on BSE.The stock had firmed up since early this month when investors made beeline for small-cap and mid-cap shares. From Rs 857.80 on 8 January 2007, the stock had risen 13.4% to Rs 973.55.
The current face value per share is Rs 10 which will be reduced to Rs 2 after stock split.Max India also announced a surge in net profit on Wednesday to Rs 3.85 crore in December 2005 quarter from Rs 2.42 crore in the same period last year. Net sales rose 30.4% to Rs 45.62 crore from Rs 34.97 crore.
Max India is a diversified firm with interests in life insurance, health care, speciality plastics and clinical research.
Balaji Telefilms firmly in the picture on good Q3 show
Balaji Telefilms rose 3.5% to Rs 127.50 after it reported 49% growth in net profit in December 2006 quarter.48,881 shares changed hands in the counter on BSE.The stock had failed to participate in rally in small-cap and mid-cap stocks witnessed since mid-December 2006. The stock was range bound since mid-December 2006. It moved between Rs 123 to Rs 138 since 12 December 2006.
Balaji Telefilms reported a 49% surge in net profit in December 2006 quarter to Rs 21.77 crore (Rs 14.60 crore). Income from operations rose 21.4%to Rs 85.02 crore (Rs 69.98 rore).
Along with Q3 results, Balaji’s board on Wednesday also approved formation of wholly owned subsidiary for undertaking films business whereby by the existing film production business will be transferred to this subsidiary. Film production is a relatively new business for Balaji Telefilms. Reports suggest that the company plans to make around five to six movies. In film production, the company’s focus is low budget movies to get maximum returns and reduce downside risks.
Balaji Telefilms dominates the television content business. It provides content to most Hindi satellite channels, Gemini in Telugu and Udaya in Kannada. The company derives close to 90% of revenues from commissioned programmes. In this arrangement, the broadcaster undertakes to market, and also pockets advertising revenues while paying the content provider an agreed fee. Balaji Telefilms enjoys such a relationship with Star Plus.
The company intends to broaden its content base by adding new genres. In addition, Balaji is planning to set up its offices in Sharjah and Dubai. The programmes shown there will be commissioned programmes.
Balaji Telefilms is a debt free entity.
posted by SY at 12:23 PM
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