Sensex extends gains
The market extended its gains in the afternoon trade, as buying momentum intensified. Short covering is said to be taking place ahead of expiry of January 2007 derivatives contracts.
At 13:42 IST, the BSE Sensex was up 75.46 points to 14,185.95. It opened higher at 14,151.62 and surged to hit a high of 14,209.41. Its low so far is at 14,115.40.The total turnover on BSE amounted to Rs 2852 crore.
The market breadth was strong on BSE, as buying spilled over small-cap and mid-cap stocks as well. There were around 1.5 gainers for every loser. 1552 shares advanced, as compared to 1024 that declined. 52 shares remained unchanged.Among the Sensex pack, 23 advanced while the rest declined.
Hindustan Oil Exploration soars
Hindustan Oil Exploration jumped nearly 12% to Rs 100 after it said that initial results have confirmed satisfactory delivery at its PY-1 gas field.6.5 lakh shares changed hands in the counter on BSE.The stock was range bound since mid-December 2006. It moved between Rs 82 to Rs 97 since mid-December 2006.
Hindustan Oil Exploration Company (HOEC) today said the company has spud the first development well "Earth" in PY-1 gas field. A well-test was performed on the well to establish that horizontal wells of this type could meet required rates under the PY-1 full field development, it said. Initial results have confirmed satisfactory well deliverability. The company has 100% participating interest in this field.
Hindustan Oil Exploration Company recently tied up with banks for availing a term loan of $100 million to part finance the development of PY-1 field. In August 2006, the company had raised $33 million through rights issue.
HOEC a relatively small player in the oil exploration and production sector. It has proven and probable reserves estimated at 39.59 million barrels of oil equivalent (mmboe).
For Q2 September 2006, the company reported a net loss of Rs 9.05 crore compared to a net profit of Rs 10.41 crore in Q2 September 2005. Net sales rose 13.8% to Rs 25.75 crore (Rs 22.63 crore).
Moser Baer in the thick of action on impressive Q3 numbers
Moser Baer jumped 7% to Rs 342.20 after it reported 188.3% growth in net profit in December 2006 quarter.9.4 lakh shares changed hands in the counter on BSE.The stock had witnessed a solid surge since mid-December 2006 as investors made beeline for small-cap and mid-cap shares. From Rs 230.45 on 12 December 2006, it surged 47% to high of Rs 338.95 on 5 January 2007. Profit taking had pulled the stock down later. It had settled at Rs 318.95 on 24 January.
Moser Baer’s net profit jumped 188.3% in December 2006 quarter to Rs 37.62 crore (Rs 13.05 crore). Net sales rose 19% to Rs 501.52 crore (Rs 421.30 crore).
Early this week, Moser Baer inked an agreement with Baba Arts to manufacture, market and distribute VCDs and DVDs of over 450 Telugu movie titles. Moser Baer will market the VCDs and DVDs of these titles in the Indian Market and pay Baba Arts a minimum guarantee (MG) of Rs 2.5 crore for eight years. Post recovery of the minimum guarantee, both companies will share the profit in a 50:50 ratio for a period of 8 years. Currently, Baba Arts is the sole copy right holder of 450 Telugu Titles.
Early this month, Moser Baer announced its foray into home video market with 101 Tamil film titles.
Moser Baer is the lowest cost optical media manufacturer in the world. Its strength lies in its focus on R&D. The company is now concentrating on HD DVD-R (recordable), a next generation format. Since July 2006, the company has stared exporting HD DVD-R (recordable to its global original equipment manufacturer (OEM) customers.
Recently, Moser Baer introduced a range of USB flash drives in the Indian market. With capacities ranging from 512 MB to four GB, the drives claim data retention feature up to 10 years. According to a Dataquest survey, the market for flash drives has grown from one lakh units in 2004-05 to over 9 lakh in 2005-06.
Moser Baer is setting up an export-oriented solar photovoltaic (PV) cells and module manufacturing project. The global photo voltaic market is on a high growth curve and a lowering of PV electricity costs could exponentially expand the market, according to Moser Baer. Electricity can be produced from sunlight through a process called photovoltaics (PV).
At 13:42 IST, the BSE Sensex was up 75.46 points to 14,185.95. It opened higher at 14,151.62 and surged to hit a high of 14,209.41. Its low so far is at 14,115.40.The total turnover on BSE amounted to Rs 2852 crore.
The market breadth was strong on BSE, as buying spilled over small-cap and mid-cap stocks as well. There were around 1.5 gainers for every loser. 1552 shares advanced, as compared to 1024 that declined. 52 shares remained unchanged.Among the Sensex pack, 23 advanced while the rest declined.
Hindustan Oil Exploration soars
Hindustan Oil Exploration jumped nearly 12% to Rs 100 after it said that initial results have confirmed satisfactory delivery at its PY-1 gas field.6.5 lakh shares changed hands in the counter on BSE.The stock was range bound since mid-December 2006. It moved between Rs 82 to Rs 97 since mid-December 2006.
Hindustan Oil Exploration Company (HOEC) today said the company has spud the first development well "Earth" in PY-1 gas field. A well-test was performed on the well to establish that horizontal wells of this type could meet required rates under the PY-1 full field development, it said. Initial results have confirmed satisfactory well deliverability. The company has 100% participating interest in this field.
Hindustan Oil Exploration Company recently tied up with banks for availing a term loan of $100 million to part finance the development of PY-1 field. In August 2006, the company had raised $33 million through rights issue.
HOEC a relatively small player in the oil exploration and production sector. It has proven and probable reserves estimated at 39.59 million barrels of oil equivalent (mmboe).
For Q2 September 2006, the company reported a net loss of Rs 9.05 crore compared to a net profit of Rs 10.41 crore in Q2 September 2005. Net sales rose 13.8% to Rs 25.75 crore (Rs 22.63 crore).
Moser Baer in the thick of action on impressive Q3 numbers
Moser Baer jumped 7% to Rs 342.20 after it reported 188.3% growth in net profit in December 2006 quarter.9.4 lakh shares changed hands in the counter on BSE.The stock had witnessed a solid surge since mid-December 2006 as investors made beeline for small-cap and mid-cap shares. From Rs 230.45 on 12 December 2006, it surged 47% to high of Rs 338.95 on 5 January 2007. Profit taking had pulled the stock down later. It had settled at Rs 318.95 on 24 January.
Moser Baer’s net profit jumped 188.3% in December 2006 quarter to Rs 37.62 crore (Rs 13.05 crore). Net sales rose 19% to Rs 501.52 crore (Rs 421.30 crore).
Early this week, Moser Baer inked an agreement with Baba Arts to manufacture, market and distribute VCDs and DVDs of over 450 Telugu movie titles. Moser Baer will market the VCDs and DVDs of these titles in the Indian Market and pay Baba Arts a minimum guarantee (MG) of Rs 2.5 crore for eight years. Post recovery of the minimum guarantee, both companies will share the profit in a 50:50 ratio for a period of 8 years. Currently, Baba Arts is the sole copy right holder of 450 Telugu Titles.
Early this month, Moser Baer announced its foray into home video market with 101 Tamil film titles.
Moser Baer is the lowest cost optical media manufacturer in the world. Its strength lies in its focus on R&D. The company is now concentrating on HD DVD-R (recordable), a next generation format. Since July 2006, the company has stared exporting HD DVD-R (recordable to its global original equipment manufacturer (OEM) customers.
Recently, Moser Baer introduced a range of USB flash drives in the Indian market. With capacities ranging from 512 MB to four GB, the drives claim data retention feature up to 10 years. According to a Dataquest survey, the market for flash drives has grown from one lakh units in 2004-05 to over 9 lakh in 2005-06.
Moser Baer is setting up an export-oriented solar photovoltaic (PV) cells and module manufacturing project. The global photo voltaic market is on a high growth curve and a lowering of PV electricity costs could exponentially expand the market, according to Moser Baer. Electricity can be produced from sunlight through a process called photovoltaics (PV).
posted by SY at 2:12 PM
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