Sensex recovers from 59-point fall
A bout of volatility was witnessed late. The BSE Sensex recovered from a lower level after having dropped as many as 58.99 points, to 14,070.65 at 14:32 IST.
At 14:55 IST the Sensex was down 6 points, at 14,123.Barring the dip in late afternoon trade, the market remained ranged for a better part of the day today. Earlier, the Sensex had struck an all time high of 14,211.15 at the onset of trading.
Bajaj Auto lost ground after Q3 results hit the market in mid-afternoon trade.Wipro firmed up ahead of its Q3 results, which will hit the market tomorrow morning. Bharti Airtel also firmed up. Hindalco, however, weakened.The market-breadth was positive, but had weakened compared to that in the early-afternoon. For 1,329 shares rising on BSE, 1294 declined. As many as 58 shares were unchanged.
Prism Cement leapfrogs on exponential growth
Prism Cement surged 10% to Rs 41.60, on reporting 1395.22% spurt in net profit for December 2006 quarter.The counter clocked 27.88 lakh shares on BSE, with pending buy orders of 9.67 lakh shares at the maximum limit.
The stock surged ahead of the results; from Rs 34.80 on 10 January to Rs 37.85 by 15 January, on expectations of a strong set of results from the company.
Prism Cement reported 1395.22% spurt in net profit for the quarter ended December 2006, to Rs 50.09 crore compared to a net profit of Rs 3.35 crore in December 2005 quarter. Net sales rose to Rs 190.01 crore (Rs 127.24 crore).
Prism Cement is a Hyderabad-based, mid-cap cement manufacturer, and promoters hold 61%.
Bajaj Auto eases
Bajaj Auto lost 0.93% to Rs 2741, after declaring Q3 December 2006 results.
The stock had also slipped sharply from an intra-day high of Rs 2859, all the way to an intra-day low of Rs 2715 after the results.As many as 1.70 lakh shares changed hands in the counter on BSE.
Bajaj Auto posted 24% rise in net profit to Rs 345.19 crore for the quarter ended December 2006, compared to Rs 278.99 crore for the quarter ended December 2005. Total income increased 28.32% to Rs 2729.18 crore (Rs 2107.32 crore).
On a consolidated basis, the group posted an income attributable to consolidated group of Rs 328.35 crore for the quarter ended December 2006 compared to Rs 253.98 crore for the quarter ended December 2005. Net sales increased to Rs 2696.03 crore (Rs 2080.82 crore).
Bajaj Auto, with overall market share of 34% in motorcycles, plans to launch Pulsar 200 cc shortly. "Our main aim is to sell maximum number of over 100 cc bikes. We will launch Pulsar 200 and 220 cc soon," added Bajaj.
The company expects export sales to be over 4 lakh units in the current fiscal. It also plans to launch new three-wheeler models.
Bajaj Auto’s sales in December 2006 rose 24% to 214,928 units from a year ago. Bajaj’s motorcycle sales rose 26% to 187,063 units in December 2006, while those of all two-wheelers grew 21% to 187,179 units. Sales of three-wheelers were up 50% at 27,749 units. Exports more than doubled to 39,385 from 18,534 units a year ago.
Besides bike and auto manufacturing, Bajaj Auto also holds a large portfolio of investments, which includes 4.32% stake in ICICI Bank, worth almost Rs 3,400 crore. Bajaj Allianz, the insurance subsidiary, is among the top two players in the life insurance industry, with both Bajaj Allianz and ICICI Prudential frequently changing the top spot. The insurance valuation per share for Bajaj Auto works out to around Rs 538 per share. This implies a total value of Rs 7,300 to the company.
At 14:55 IST the Sensex was down 6 points, at 14,123.Barring the dip in late afternoon trade, the market remained ranged for a better part of the day today. Earlier, the Sensex had struck an all time high of 14,211.15 at the onset of trading.
Bajaj Auto lost ground after Q3 results hit the market in mid-afternoon trade.Wipro firmed up ahead of its Q3 results, which will hit the market tomorrow morning. Bharti Airtel also firmed up. Hindalco, however, weakened.The market-breadth was positive, but had weakened compared to that in the early-afternoon. For 1,329 shares rising on BSE, 1294 declined. As many as 58 shares were unchanged.
Prism Cement leapfrogs on exponential growth
Prism Cement surged 10% to Rs 41.60, on reporting 1395.22% spurt in net profit for December 2006 quarter.The counter clocked 27.88 lakh shares on BSE, with pending buy orders of 9.67 lakh shares at the maximum limit.
The stock surged ahead of the results; from Rs 34.80 on 10 January to Rs 37.85 by 15 January, on expectations of a strong set of results from the company.
Prism Cement reported 1395.22% spurt in net profit for the quarter ended December 2006, to Rs 50.09 crore compared to a net profit of Rs 3.35 crore in December 2005 quarter. Net sales rose to Rs 190.01 crore (Rs 127.24 crore).
Prism Cement is a Hyderabad-based, mid-cap cement manufacturer, and promoters hold 61%.
Bajaj Auto eases
Bajaj Auto lost 0.93% to Rs 2741, after declaring Q3 December 2006 results.
The stock had also slipped sharply from an intra-day high of Rs 2859, all the way to an intra-day low of Rs 2715 after the results.As many as 1.70 lakh shares changed hands in the counter on BSE.
Bajaj Auto posted 24% rise in net profit to Rs 345.19 crore for the quarter ended December 2006, compared to Rs 278.99 crore for the quarter ended December 2005. Total income increased 28.32% to Rs 2729.18 crore (Rs 2107.32 crore).
On a consolidated basis, the group posted an income attributable to consolidated group of Rs 328.35 crore for the quarter ended December 2006 compared to Rs 253.98 crore for the quarter ended December 2005. Net sales increased to Rs 2696.03 crore (Rs 2080.82 crore).
Bajaj Auto, with overall market share of 34% in motorcycles, plans to launch Pulsar 200 cc shortly. "Our main aim is to sell maximum number of over 100 cc bikes. We will launch Pulsar 200 and 220 cc soon," added Bajaj.
The company expects export sales to be over 4 lakh units in the current fiscal. It also plans to launch new three-wheeler models.
Bajaj Auto’s sales in December 2006 rose 24% to 214,928 units from a year ago. Bajaj’s motorcycle sales rose 26% to 187,063 units in December 2006, while those of all two-wheelers grew 21% to 187,179 units. Sales of three-wheelers were up 50% at 27,749 units. Exports more than doubled to 39,385 from 18,534 units a year ago.
Besides bike and auto manufacturing, Bajaj Auto also holds a large portfolio of investments, which includes 4.32% stake in ICICI Bank, worth almost Rs 3,400 crore. Bajaj Allianz, the insurance subsidiary, is among the top two players in the life insurance industry, with both Bajaj Allianz and ICICI Prudential frequently changing the top spot. The insurance valuation per share for Bajaj Auto works out to around Rs 538 per share. This implies a total value of Rs 7,300 to the company.
posted by SY at 3:31 PM
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