Profit-booking begins, Sensex in the red
The market had slipped into the red, as profit-booking began at higher levels. At 12:34 IST the Sensex was down 20.33 points, to 14,094.40. It had opened higher, at 14,133.78, as buying continued after Wipro came out with solid set of results. It struck a high of 14,170.65 for the day, while its low is at 14,089.63.
The market-breadth was strong on BSE, as buying continued for small-cap and mid-cap stocks. Analysts expect buying to shift to this space, anticipating robust results for the December quarter. There were around two gainers for every loser on BSE. Against 1,661 shares advancing, 888 declined, and 48 did not change.
The total turnover on BSE amounted to Rs 2417 crore.Among the 30-Sensex pack, 18 advanced while the rest declined.Engineering and construction major L&T was the top gainer, up 1.50% to Rs 1543, on a volume of 75,359 shares. The company has scheduled a board meeting on 29 January 2007, to consider financial results for the third quarter ended December 2006.
Batliboi cuts loose on Q3 scorecard
Engineering firm Batliboi jumped 10% to Rs 124.70, on reporting 133.7% surge in net profit for December 2006 quarter.A strong 1.9 lakh shares changed hands in the counter on BSE.
The stock had risen about 1% on Tuesday (16 January) to Rs 113.30, when results hit the market during trading hours. The stock had also surged before the results. From Rs 94.95 on 26 December 2006, it rallied to Rs 112.25 by 15 January 2007 .
Batliboi’s net profit jumped 133.7% to Rs 3.95 crore (Rs 1.69 crore). Net sales rose 42.9% to Rs 36.23 crore (Rs 25.36 crore).
Recently Batliboi’s board approved the merger of Batliboi SPM with the company. As per the swap ratio, a share of Batliboi will be issued in exchange for 21 SPM equity shares of Rs 100 each.
Batliboi is a leader in textile humidification systems, which are used to maintain moisture during the spinning process. It has a market share of over 35% in this segment and the company is seen benefitting from the upward capex cycle in the textile industry. The company’s textile machinery division also has a trading division that imports a range of machinery catering to the entire gamut of user requirements from spinning to garment-making.
The company also has a machine tools division, which is seen benefiting from fast-paced industrial capex.
The company also provides air conditioning and refrigeration solutions. In this segment, however, Batliboi is merely a fringe player.
The market-breadth was strong on BSE, as buying continued for small-cap and mid-cap stocks. Analysts expect buying to shift to this space, anticipating robust results for the December quarter. There were around two gainers for every loser on BSE. Against 1,661 shares advancing, 888 declined, and 48 did not change.
The total turnover on BSE amounted to Rs 2417 crore.Among the 30-Sensex pack, 18 advanced while the rest declined.Engineering and construction major L&T was the top gainer, up 1.50% to Rs 1543, on a volume of 75,359 shares. The company has scheduled a board meeting on 29 January 2007, to consider financial results for the third quarter ended December 2006.
Batliboi cuts loose on Q3 scorecard
Engineering firm Batliboi jumped 10% to Rs 124.70, on reporting 133.7% surge in net profit for December 2006 quarter.A strong 1.9 lakh shares changed hands in the counter on BSE.
The stock had risen about 1% on Tuesday (16 January) to Rs 113.30, when results hit the market during trading hours. The stock had also surged before the results. From Rs 94.95 on 26 December 2006, it rallied to Rs 112.25 by 15 January 2007 .
Batliboi’s net profit jumped 133.7% to Rs 3.95 crore (Rs 1.69 crore). Net sales rose 42.9% to Rs 36.23 crore (Rs 25.36 crore).
Recently Batliboi’s board approved the merger of Batliboi SPM with the company. As per the swap ratio, a share of Batliboi will be issued in exchange for 21 SPM equity shares of Rs 100 each.
Batliboi is a leader in textile humidification systems, which are used to maintain moisture during the spinning process. It has a market share of over 35% in this segment and the company is seen benefitting from the upward capex cycle in the textile industry. The company’s textile machinery division also has a trading division that imports a range of machinery catering to the entire gamut of user requirements from spinning to garment-making.
The company also has a machine tools division, which is seen benefiting from fast-paced industrial capex.
The company also provides air conditioning and refrigeration solutions. In this segment, however, Batliboi is merely a fringe player.
posted by SY at 1:07 PM
0 Comments:
Post a Comment
<< Home