Sensex nearly flattens
The market was range-bound in afternoon trade, mimicking other Asian markets. Index heavyweights were subdued. Ranbaxy and Hindalco eased in afternoon trade, while ACC had firmed up.
At 12:57 IST the Sensex was down 5.8 points, at 14,123. The Sensex came down from 14,171 at 12:00 IST.Sensex moved just 50, between 14,121 and 14,171, since 11:30 IST. In early-trade, the Sensex strike an all-time high of 14,211.15.
The market-breadth was positive. For 1,391 shares rising on BSE, 1,143 declined. Just 55 shares were unchanged. Gainers outpaced losers by a ratio of 1.2:1.The BSE clocked a turnover of Rs 2209 crore.
HCL Technologies gains on eye-catching numbers
HCL Technologies rose 2.57% to Rs 646, after the company unveiled 58% rise in net profit for Q2 ended December 2006.The counter clocked 83,698 shares on BSE. The scrip currently trades cum 1:1 bonus.
The stock has witnessed a pre-results' rally; from Rs 589.45 on 10 January to Rs 633.40 by 12 January, anticipating robust results from the company. Here, it slipped to Rs 629.80 by 15 January on profit booking.
India’s fifth-biggest computer-services provider HCL Technologies announced on Monday, after market hours, that its net profit for the second quarter ended December 2006 was up 58% year-on-year (Y-o-Y) and 14.4%, sequentially, to Rs 286 crore. Revenue for the quarter went up 39% Y-o-Y, and 6.2% sequentially, to Rs 1,465 crore.
HCL’s revenue was propped up by a 3.6% rupee appreciation and a larger number of orders to write software and manage computer networks, the Noida-based company said. This quarter also saw HCL winning its second largest order of $200 million from Skandia, UK.
The firm said it had added 23 new customers, bringing the total number to 230, compared with 24 added in the last quarter. Of this, 45 are multi-service users, and one more has joined the $50-million-club this quarter, adding to the last quarters. The company also said its new customers contributed 12% of its revenue, while 88% revenue came from old customers.
HCL Tech expected to generate $100 million in revenue over the next five years through a new agreement to jointly sell services with Canada’s Celestica. The company raised billing rates as much as 5% for contracts that came up for renewals during the quarter, HCL said.
In November, HCL Technologies formed a joint-venture with Canada-based electronics manufacturer, Celestica, to provide complete concept-to-manufacturing solutions. The two companies will provide product concept, design, engineering, manufacturing, fulfilment, sustaining engineering, reverse logistics and after-market services to customers across the telecom, enterprise, consumer, medical, aerospace and semiconductor sectors. Both firms will initially address the medical electronics, consumer electronics and aeronautical sectors.
Tulip IT Services rallies after superb Q3 results
Tulip IT Services rose 3.24% to Rs 650, after the company reported a 131.50% spurt in net profit for Q3 December 2006.As many as 1.23 lakh shares changed hands in the counter on BSE. The stock also surged to an all-time high of Rs 660, in early trade
The stock witnessed a solid surge since mid-October 2006, and has been one of the best performing mid-cap stocks. A spike in the counter in late-October - early-November period was triggered by strong buying following solid Q2 results. From Rs 319.05 on 18 October, the stock surged consistently to Rs 629.60 on 15 January 2007, as buying continued, anticipating strong set of results in the coming quarters.
Tulip IT Services reported robust Q3 December 2006. Its net profit jumped 131.50% to Rs 27.48 crore for Q3 December 2006, compared to Rs 11.87 for Q3 December 2005. Net sales rose 64.40% to Rs 221.99 crore (Rs 135.01 crore).
Tulip IT Services provides network integration and management services and Internet protocol (IP)/virtual private network (VPN) wireless connectivity.
Tulip provides both inter-city as well as intra-city connectivity. Tulip's inter-city network is based on an optical fibre cable leased from multiple service providers. Tulip's last mile connectivity is entirely wireless, using radio frequency technology in point-to-point and point-to-multi-point modes. Licensed frequencies are used in major cities to overcome interference issues.
Late last year, Tulip IT Services received the national long distance (NLD) license from the Department of Telecommmunication (DoT). The NLD license has been conferred based on the new requirements laid down by the DoT, which engenders IP/VPN service providers to migrate to NLD license. The license will enable the company to route voice, data and video traffic across the country. In addition, it will also be able to provide high-end services in the burgeoning VPN (Virtual Private Network) bandwidth market.
Bajaj Auto Finance jumps after pleasing turnaround
Bajaj Auto Finance jumped 8.82% to Rs 409, after reporting turnaround results for Q3 ended December 2006.As many as 19,614 shares were traded in the counter on BSE. The counter had surged to a high of Rs 416.90, the low being Rs 379.95.The stock traded in a range of Rs 380.95 and Rs 360, in the past few trading sessions, ahead of the results.
Bajaj Auto Finance reported a net profit of Rs 16.86 crore for Q3 December 2006, compared to a net loss of Rs 11.81 crore for the Q3 December 2005. Total income jumped 77.60% to Rs 126.76 crore (Rs 71.37 crore).
Bajaj Auto Finance will issue 6 rights shares for every 10 held. The proceeds will be used for expansion and retirement of high-cost debt. The board has also approved an issue of 5.25 million debentures and warrants, convertible at Rs 500 per share.
Bajaj Auto Finance, a Bajaj group NBFC, is largely into retail lending. Apart from financing two-wheelers and consumer durables, the company also finances personal computers and personal loans.
At 12:57 IST the Sensex was down 5.8 points, at 14,123. The Sensex came down from 14,171 at 12:00 IST.Sensex moved just 50, between 14,121 and 14,171, since 11:30 IST. In early-trade, the Sensex strike an all-time high of 14,211.15.
The market-breadth was positive. For 1,391 shares rising on BSE, 1,143 declined. Just 55 shares were unchanged. Gainers outpaced losers by a ratio of 1.2:1.The BSE clocked a turnover of Rs 2209 crore.
HCL Technologies gains on eye-catching numbers
HCL Technologies rose 2.57% to Rs 646, after the company unveiled 58% rise in net profit for Q2 ended December 2006.The counter clocked 83,698 shares on BSE. The scrip currently trades cum 1:1 bonus.
The stock has witnessed a pre-results' rally; from Rs 589.45 on 10 January to Rs 633.40 by 12 January, anticipating robust results from the company. Here, it slipped to Rs 629.80 by 15 January on profit booking.
India’s fifth-biggest computer-services provider HCL Technologies announced on Monday, after market hours, that its net profit for the second quarter ended December 2006 was up 58% year-on-year (Y-o-Y) and 14.4%, sequentially, to Rs 286 crore. Revenue for the quarter went up 39% Y-o-Y, and 6.2% sequentially, to Rs 1,465 crore.
HCL’s revenue was propped up by a 3.6% rupee appreciation and a larger number of orders to write software and manage computer networks, the Noida-based company said. This quarter also saw HCL winning its second largest order of $200 million from Skandia, UK.
The firm said it had added 23 new customers, bringing the total number to 230, compared with 24 added in the last quarter. Of this, 45 are multi-service users, and one more has joined the $50-million-club this quarter, adding to the last quarters. The company also said its new customers contributed 12% of its revenue, while 88% revenue came from old customers.
HCL Tech expected to generate $100 million in revenue over the next five years through a new agreement to jointly sell services with Canada’s Celestica. The company raised billing rates as much as 5% for contracts that came up for renewals during the quarter, HCL said.
In November, HCL Technologies formed a joint-venture with Canada-based electronics manufacturer, Celestica, to provide complete concept-to-manufacturing solutions. The two companies will provide product concept, design, engineering, manufacturing, fulfilment, sustaining engineering, reverse logistics and after-market services to customers across the telecom, enterprise, consumer, medical, aerospace and semiconductor sectors. Both firms will initially address the medical electronics, consumer electronics and aeronautical sectors.
Tulip IT Services rallies after superb Q3 results
Tulip IT Services rose 3.24% to Rs 650, after the company reported a 131.50% spurt in net profit for Q3 December 2006.As many as 1.23 lakh shares changed hands in the counter on BSE. The stock also surged to an all-time high of Rs 660, in early trade
The stock witnessed a solid surge since mid-October 2006, and has been one of the best performing mid-cap stocks. A spike in the counter in late-October - early-November period was triggered by strong buying following solid Q2 results. From Rs 319.05 on 18 October, the stock surged consistently to Rs 629.60 on 15 January 2007, as buying continued, anticipating strong set of results in the coming quarters.
Tulip IT Services reported robust Q3 December 2006. Its net profit jumped 131.50% to Rs 27.48 crore for Q3 December 2006, compared to Rs 11.87 for Q3 December 2005. Net sales rose 64.40% to Rs 221.99 crore (Rs 135.01 crore).
Tulip IT Services provides network integration and management services and Internet protocol (IP)/virtual private network (VPN) wireless connectivity.
Tulip provides both inter-city as well as intra-city connectivity. Tulip's inter-city network is based on an optical fibre cable leased from multiple service providers. Tulip's last mile connectivity is entirely wireless, using radio frequency technology in point-to-point and point-to-multi-point modes. Licensed frequencies are used in major cities to overcome interference issues.
Late last year, Tulip IT Services received the national long distance (NLD) license from the Department of Telecommmunication (DoT). The NLD license has been conferred based on the new requirements laid down by the DoT, which engenders IP/VPN service providers to migrate to NLD license. The license will enable the company to route voice, data and video traffic across the country. In addition, it will also be able to provide high-end services in the burgeoning VPN (Virtual Private Network) bandwidth market.
Bajaj Auto Finance jumps after pleasing turnaround
Bajaj Auto Finance jumped 8.82% to Rs 409, after reporting turnaround results for Q3 ended December 2006.As many as 19,614 shares were traded in the counter on BSE. The counter had surged to a high of Rs 416.90, the low being Rs 379.95.The stock traded in a range of Rs 380.95 and Rs 360, in the past few trading sessions, ahead of the results.
Bajaj Auto Finance reported a net profit of Rs 16.86 crore for Q3 December 2006, compared to a net loss of Rs 11.81 crore for the Q3 December 2005. Total income jumped 77.60% to Rs 126.76 crore (Rs 71.37 crore).
Bajaj Auto Finance will issue 6 rights shares for every 10 held. The proceeds will be used for expansion and retirement of high-cost debt. The board has also approved an issue of 5.25 million debentures and warrants, convertible at Rs 500 per share.
Bajaj Auto Finance, a Bajaj group NBFC, is largely into retail lending. Apart from financing two-wheelers and consumer durables, the company also finances personal computers and personal loans.
posted by SY at 1:35 PM
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