Metal scrips ravaged
Metal stocks were going through hell on the bourses. The BSE Metal index had tanked 428.07 points (4.39%), to 9,331.54. Private sector steel giant Tata Steel, down nearly 10%, was the biggest loser among metal producers as the final offer of $11.3 billion made by it for Europe's Corus is believed to be expensive. A lot of brokerages have downgraded the stock following this event.
Meanwhile, by 14:30 IST, the BSE Sensex was down 143.51 points, at 14,068.45. It had opened higher, at 14,219.38, and surged to a high of 14,269.31 in early trade. The benchmark index has also plunged to a fresh low of 14,045.61.
The market-breadth continued negative as small-cap and mid-cap stocks remained under pressure. For 1,697 shares declining, 909 advanced and 38 remained unchanged. The total turnover on BSE amounted to Rs 4065 crore.Among the 30-Sensex pack, 22 declined while the rest advanced.
Monsanto India tanks on dismal numbers
Monsanto India dropped 10% to Rs 1501.60, after reporting 31.6% fall in net profit in the December 2006 quarter.There were outstanding sell-orders for 117 shares at the 10% lower limit. As many as 6,091 shares changed hands in the counter on BSE.
The stock surged before the results. From Rs 1533.65 on 24 January 2007, it rose 8.7% in two trading sessions to Rs 1668.40 by 29 January 2007. The results hit the market after trading hours on the same day.
Monsanto reported 31.6% fall in net profit in the December 2006 quarter to Rs 14.29 crore (Rs 20.88 crore). Net sales declined 18.7% to Rs 70.72 crore (Rs 86.96 crore).
Monsanto India is a 72.15% subsidiary of the US-based Monsanto. Monsanto India produces a range of products covering agricultural chemicals, seeds and related formulations (traits). Monsanto is popular for its BT cottonseeds.
In August 2006, Monsanto India sold its herbicide business, Leader, to Sumitomo Chemicals India.
Monsanto India focusses on the seeds business. Seeds are a major input and the initial lever for bolstering agricultural production. The company has invested in a corn-drying facility in Andhra Pradesh to meet growing demand for seeds both in the domestic as well as the international market.
Q4 results boost Areva T&D India
Areva T&D India gained 7% to Rs 1138, on reporting 108.9% surge in net profit for the December 2006 quarter.As many as 1.3 lakh shares changed hands in the counter on BSE.The scrip has been on a roll in the past three months. From Rs 654.70 on 17 October 2006, it gained 62.3% to Rs 1063.20 by 29 January 2007.
Areva T&D India reported 108.9% surge in net profit in the December 2006 quarter to Rs 32.22 crore (Rs 15.42 crore). Net sales jumped 15.7% to Rs 400.70 crore (Rs 346.19 crore).
The company’s operating profit rose 96.5% to Rs 56.10 crore (Rs 28.54 crore). Sales of continuing business rose 35.4% to Rs 400.70 crore in the Dec-2006 quarter from Rs 295.75 crore in the same quarter a year ago.
Areva T&D India designs, manufactures and supplies a range of products, systems and services for transferring electricity. Its product-offerings include transformers (power and distribution), switchgears (MV and HV), meters, electronic motors and electric meters. Its services portfolio includes network planning. At the global level, the Areva Group is a world leader in nuclear power and power T&D equipments.
Recently, Areva T&D India won orders worth around Rs 251.97 crore from Reliance Petroleum, National Aluminium Company (NALCO) and General Electricity Company of Libya (GECOL).
Areva T&D, the parent of Areva T&D India, has inked an agreement with the Ritz group, the world leader in high-voltage instrument transformers business, to acquire the latter’s business globally. This is likely to benefit the Areva T&D.
Meanwhile, by 14:30 IST, the BSE Sensex was down 143.51 points, at 14,068.45. It had opened higher, at 14,219.38, and surged to a high of 14,269.31 in early trade. The benchmark index has also plunged to a fresh low of 14,045.61.
The market-breadth continued negative as small-cap and mid-cap stocks remained under pressure. For 1,697 shares declining, 909 advanced and 38 remained unchanged. The total turnover on BSE amounted to Rs 4065 crore.Among the 30-Sensex pack, 22 declined while the rest advanced.
Monsanto India tanks on dismal numbers
Monsanto India dropped 10% to Rs 1501.60, after reporting 31.6% fall in net profit in the December 2006 quarter.There were outstanding sell-orders for 117 shares at the 10% lower limit. As many as 6,091 shares changed hands in the counter on BSE.
The stock surged before the results. From Rs 1533.65 on 24 January 2007, it rose 8.7% in two trading sessions to Rs 1668.40 by 29 January 2007. The results hit the market after trading hours on the same day.
Monsanto reported 31.6% fall in net profit in the December 2006 quarter to Rs 14.29 crore (Rs 20.88 crore). Net sales declined 18.7% to Rs 70.72 crore (Rs 86.96 crore).
Monsanto India is a 72.15% subsidiary of the US-based Monsanto. Monsanto India produces a range of products covering agricultural chemicals, seeds and related formulations (traits). Monsanto is popular for its BT cottonseeds.
In August 2006, Monsanto India sold its herbicide business, Leader, to Sumitomo Chemicals India.
Monsanto India focusses on the seeds business. Seeds are a major input and the initial lever for bolstering agricultural production. The company has invested in a corn-drying facility in Andhra Pradesh to meet growing demand for seeds both in the domestic as well as the international market.
Q4 results boost Areva T&D India
Areva T&D India gained 7% to Rs 1138, on reporting 108.9% surge in net profit for the December 2006 quarter.As many as 1.3 lakh shares changed hands in the counter on BSE.The scrip has been on a roll in the past three months. From Rs 654.70 on 17 October 2006, it gained 62.3% to Rs 1063.20 by 29 January 2007.
Areva T&D India reported 108.9% surge in net profit in the December 2006 quarter to Rs 32.22 crore (Rs 15.42 crore). Net sales jumped 15.7% to Rs 400.70 crore (Rs 346.19 crore).
The company’s operating profit rose 96.5% to Rs 56.10 crore (Rs 28.54 crore). Sales of continuing business rose 35.4% to Rs 400.70 crore in the Dec-2006 quarter from Rs 295.75 crore in the same quarter a year ago.
Areva T&D India designs, manufactures and supplies a range of products, systems and services for transferring electricity. Its product-offerings include transformers (power and distribution), switchgears (MV and HV), meters, electronic motors and electric meters. Its services portfolio includes network planning. At the global level, the Areva Group is a world leader in nuclear power and power T&D equipments.
Recently, Areva T&D India won orders worth around Rs 251.97 crore from Reliance Petroleum, National Aluminium Company (NALCO) and General Electricity Company of Libya (GECOL).
Areva T&D, the parent of Areva T&D India, has inked an agreement with the Ritz group, the world leader in high-voltage instrument transformers business, to acquire the latter’s business globally. This is likely to benefit the Areva T&D.
posted by SY at 3:51 PM
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