Sensex scampers to all-time high above 14,200
The market opened with a bang, extending gains from Friday, as buying continued on back of firm global markets, and on resumption in FII-buying.
At 10:19 IST the BSE Sensex was up 123.69 points, at 14,182.60. It had surged to an all-time high of 14,200.41, in early trade, the low for the day being 14,110.44.The total turnover on BSE amounted to Rs 820 crore.The market-breadth was strong on BSE, with 1517 shares advancing compared to 402 that declined.Among the 30-Sensex pack, all excepting Tata Motors (down 0.05% to Rs 940) advanced.
TCS was the top gainer, up 2.84% to Rs 1363, on a volume of 1.07 lakh shares. Eight brokerages expect between 4.4 - 13.9% sequential growth in TCS’ December 2006 quarter consolidated net profit as per US GAAP, between Rs 1035.30 crore and Rs 1128.80 crore, compared to a net profit of Rs 991.50 crore in September 2006 quarter. All these eight brokerages also expect between 6.2 - 8.2% sequential growth in TCS’ Q3 consolidated revenue as per US GAAP, between Rs 4759.30 crore and Rs 4848.90 crore.
HDFC Bank (up 2.50% to Rs 1089.50), Bajaj Auto (up 2.30% to Rs 2832) and REL (up 1.47% to Rs 532.50) were the other gainers.
Index heavyweight Reliance industries (RIL) advanced 1.48% to Rs 1360 on a volume of 3.55 lakh shares. Market is rife with rumors that the company will announce a stock-split along with its quarterly results on Thursday.
CMC leaps on prolific numbers
CMC jumped 25% to Rs 878, after the company reported a 69% jump in net profit for December 2006 quarter.A strong 18,903 shares changed hands in the counter on BSE.
CMC’s consolidated net profit jumped 69% in December 2006 quarter, to Rs 20.40 crore (Rs 12.07 crore). Consolidated sales jumped 44% to Rs 298.63 crore (Rs 207.25 crore).
For 9-months April-September 2006, CMC’s net profit rose 26% to Rs 48.50 crore (Rs 38.59 crore). Consolidated revenue rose 30% to Rs 790.69 crore (Rs 609.24 crore).
The company has four distinct strategic business units, namely, customer services (CS), system integration (SI), IT enabled services (ITES) and Education and training (E&T). Except E&T, the other three business segments performed well during the quarter.
The current price of Rs 878 discounts its FY 2006 (year ended 31 March 2006) EPS of Rs 20.10 (based on consolidated earnings) by a PE multiple of 43.6.
Tata Sponge sizzles as net profit soars
Tata Sponge Iron spurted 15% to Rs 120, after the company reported a 193% surge in net profit in December 2006 quarter.As many as 63,947 shares changed hands in the counter on BSE.
The stock had bounced back in the run up to the results announcement. From Rs 90.75 on 22 December 2006, it rose 14.6% to Rs 104 by Friday (12 January 2007). The results hit the market after trading hours on 12 January 2007.
Tata Sponge Iron reported a 192.9% surge in net profit to Rs 7.06 crore in December 2006 quarter. Net sales rose 98.9% to Rs 82.13 crore (Rs 41.29 crore).
In March 2006, Tata Sponge raised capacity to manufacture sponge iron to 3.9 lakh tones per annual (ltpa) from 2.4 ltpa, an increase of capacity by 62.5%.
Earlier, Tata Sponge in consortium with SPS Steel & Power and Scaw Industries was allotted a coal block on a 30-year lease basis at Radhikapur East in Angul, Orissa. Tata Sponge Iron is a leader in this consortium.
With a higher quantum of power generation in times to come, the company is actively looking at alternatives to maximise revenues for future sale of power, the company said in its annual report for FY 2006 (year ended 31 March 2006). The company’s power generation capacity will go up to 26 Mw from 7.5 Mw after completing ongoing installation of an 18.5 Mw power plant attached to kiln-1 and kiln-3.
At 10:19 IST the BSE Sensex was up 123.69 points, at 14,182.60. It had surged to an all-time high of 14,200.41, in early trade, the low for the day being 14,110.44.The total turnover on BSE amounted to Rs 820 crore.The market-breadth was strong on BSE, with 1517 shares advancing compared to 402 that declined.Among the 30-Sensex pack, all excepting Tata Motors (down 0.05% to Rs 940) advanced.
TCS was the top gainer, up 2.84% to Rs 1363, on a volume of 1.07 lakh shares. Eight brokerages expect between 4.4 - 13.9% sequential growth in TCS’ December 2006 quarter consolidated net profit as per US GAAP, between Rs 1035.30 crore and Rs 1128.80 crore, compared to a net profit of Rs 991.50 crore in September 2006 quarter. All these eight brokerages also expect between 6.2 - 8.2% sequential growth in TCS’ Q3 consolidated revenue as per US GAAP, between Rs 4759.30 crore and Rs 4848.90 crore.
HDFC Bank (up 2.50% to Rs 1089.50), Bajaj Auto (up 2.30% to Rs 2832) and REL (up 1.47% to Rs 532.50) were the other gainers.
Index heavyweight Reliance industries (RIL) advanced 1.48% to Rs 1360 on a volume of 3.55 lakh shares. Market is rife with rumors that the company will announce a stock-split along with its quarterly results on Thursday.
CMC leaps on prolific numbers
CMC jumped 25% to Rs 878, after the company reported a 69% jump in net profit for December 2006 quarter.A strong 18,903 shares changed hands in the counter on BSE.
CMC’s consolidated net profit jumped 69% in December 2006 quarter, to Rs 20.40 crore (Rs 12.07 crore). Consolidated sales jumped 44% to Rs 298.63 crore (Rs 207.25 crore).
For 9-months April-September 2006, CMC’s net profit rose 26% to Rs 48.50 crore (Rs 38.59 crore). Consolidated revenue rose 30% to Rs 790.69 crore (Rs 609.24 crore).
The company has four distinct strategic business units, namely, customer services (CS), system integration (SI), IT enabled services (ITES) and Education and training (E&T). Except E&T, the other three business segments performed well during the quarter.
The current price of Rs 878 discounts its FY 2006 (year ended 31 March 2006) EPS of Rs 20.10 (based on consolidated earnings) by a PE multiple of 43.6.
Tata Sponge sizzles as net profit soars
Tata Sponge Iron spurted 15% to Rs 120, after the company reported a 193% surge in net profit in December 2006 quarter.As many as 63,947 shares changed hands in the counter on BSE.
The stock had bounced back in the run up to the results announcement. From Rs 90.75 on 22 December 2006, it rose 14.6% to Rs 104 by Friday (12 January 2007). The results hit the market after trading hours on 12 January 2007.
Tata Sponge Iron reported a 192.9% surge in net profit to Rs 7.06 crore in December 2006 quarter. Net sales rose 98.9% to Rs 82.13 crore (Rs 41.29 crore).
In March 2006, Tata Sponge raised capacity to manufacture sponge iron to 3.9 lakh tones per annual (ltpa) from 2.4 ltpa, an increase of capacity by 62.5%.
Earlier, Tata Sponge in consortium with SPS Steel & Power and Scaw Industries was allotted a coal block on a 30-year lease basis at Radhikapur East in Angul, Orissa. Tata Sponge Iron is a leader in this consortium.
With a higher quantum of power generation in times to come, the company is actively looking at alternatives to maximise revenues for future sale of power, the company said in its annual report for FY 2006 (year ended 31 March 2006). The company’s power generation capacity will go up to 26 Mw from 7.5 Mw after completing ongoing installation of an 18.5 Mw power plant attached to kiln-1 and kiln-3.
posted by SY at 12:24 PM
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