Sensex trims gains; Tata Motors in trouble
The market pared gains by early-afternoon. FMCG major Hindustan Lever (HLL) was under pressure. Tata Motors lost more ground and index heavyweight Reliance Industries (RIL) pared gains. State Bank of India (SBI) drifted lower.
At 12:25 IST the Sensex was up just 47 points, at 14,088. It had risen as many as 115.22 points, to 14,156.46, by 10:41 IST.The market-breadth was strong. For 1,441 shares rising on BSE, 1,023 declined and 67 were unchanged. Gainers outpaced losers by a ratio of 1.4:1.The BSE clocked a turnover of Rs 2188 crore.HLL was down 3.3% to Rs 214.75. A strong 6.9 lakh shares changed hands in the counter on BSE.
Everest Kanto Cylinder upbeat
Everest Kanto Cylinder rose 1.80% to Rs 780, after the company's net profit for Q3 Dec-2006 jumped 93.20%.As many as 2.58 lakh shares changed hands in the counter on BSE. The stock also surged to an intra-day high of Rs 789.90.The scrip was volatile ahead of its results. From Rs 776 on 15 January, it slipped to Rs 719.20 by 22 January 2007. Here, it found support and bounced back to Rs 766.20 by 23 January 2007.
For Q3 December 2006, Everest Kanto Cylinder's net profit jumped 3.20% to Rs 16.87 crore, compared to Rs 8.73 crore in Q3 December 2005. Net sales rose 22.80% to Rs 70.83 crore (Rs 57.59 crore).
Recently, Everest Kanto Cylinder (EKC) bagged an order worth Rs 40 crore from defense authorities for supplying specialized gas cylinders. The company's order-book contains work that will require next 12 months, according to EKC.
Everest Kanto Cylinder is India's largest industrial gas and CNG cylinder manufacturer, with a capacity to manufacture 7,00,000 cylinders annually. EKC recently commissioned its greenfield plant at Gandhidham, Gujarat, with a capacity of 3,40,000 cylinders per annum.
The company has three manufacturing facilities in India and one overseas. It is setting up another facility in China, while scouting for more locations worldwide. In three years, the China capacity will be its largest, rolling out 1.5 million CNG cylinders per year. The company is doubling capacity at its UAE plant to 2,00,000 cylinders, with an investment of $12 million.
CNG penetration in India is set for strong growth, driven by cost economics, increasing gas supplies, environmental benefits and improving distribution infrastructure. EKC is well-positioned to capitalise on this trend, according to a recent report by broking house Citigroup.
The company’s current equity base is Rs 17.63 crore, face value per share being Rs 10.In November 2006, Brightwill, a subsidiary of a fund managed by CLSA Private Equity Management, invested $20 million in the company. Brightwill was allotted 18.96 lakh equity shares of the face value of Rs 10 each, fully paid-up, at Rs 485 per share on a preferential basis.
Tamil Nadu Newsprint & Papers buoyant on remarkable Q3 numbers
Tamilnadu Newsprint & Papers surged 1.60% to Rs 95.20, on the back of a 52% jump in net profit for Q3 Dec-2006.The counter clocked 65,861 shares on BSE.The stock has been range-bound since early-December 2006, without any volatile.
The net profit stood at Rs 22.30 crore, up 52% over the corresponding previous year’s quarter. Sales stand at Rs 214.45 crore, up 8% Y-o-Y.Other income contributed significantly to net profit in the third quarter, increasing from Rs 4.36 crore to Rs 7.59 crore.
The demand for paper is rising and the prospects appear good for the industry. Major companies are operating at around 92% capacity. However, rising raw material costs are a concern for the sector but can be accommodated by a hike in product prices.
At 12:25 IST the Sensex was up just 47 points, at 14,088. It had risen as many as 115.22 points, to 14,156.46, by 10:41 IST.The market-breadth was strong. For 1,441 shares rising on BSE, 1,023 declined and 67 were unchanged. Gainers outpaced losers by a ratio of 1.4:1.The BSE clocked a turnover of Rs 2188 crore.HLL was down 3.3% to Rs 214.75. A strong 6.9 lakh shares changed hands in the counter on BSE.
Everest Kanto Cylinder upbeat
Everest Kanto Cylinder rose 1.80% to Rs 780, after the company's net profit for Q3 Dec-2006 jumped 93.20%.As many as 2.58 lakh shares changed hands in the counter on BSE. The stock also surged to an intra-day high of Rs 789.90.The scrip was volatile ahead of its results. From Rs 776 on 15 January, it slipped to Rs 719.20 by 22 January 2007. Here, it found support and bounced back to Rs 766.20 by 23 January 2007.
For Q3 December 2006, Everest Kanto Cylinder's net profit jumped 3.20% to Rs 16.87 crore, compared to Rs 8.73 crore in Q3 December 2005. Net sales rose 22.80% to Rs 70.83 crore (Rs 57.59 crore).
Recently, Everest Kanto Cylinder (EKC) bagged an order worth Rs 40 crore from defense authorities for supplying specialized gas cylinders. The company's order-book contains work that will require next 12 months, according to EKC.
Everest Kanto Cylinder is India's largest industrial gas and CNG cylinder manufacturer, with a capacity to manufacture 7,00,000 cylinders annually. EKC recently commissioned its greenfield plant at Gandhidham, Gujarat, with a capacity of 3,40,000 cylinders per annum.
The company has three manufacturing facilities in India and one overseas. It is setting up another facility in China, while scouting for more locations worldwide. In three years, the China capacity will be its largest, rolling out 1.5 million CNG cylinders per year. The company is doubling capacity at its UAE plant to 2,00,000 cylinders, with an investment of $12 million.
CNG penetration in India is set for strong growth, driven by cost economics, increasing gas supplies, environmental benefits and improving distribution infrastructure. EKC is well-positioned to capitalise on this trend, according to a recent report by broking house Citigroup.
The company’s current equity base is Rs 17.63 crore, face value per share being Rs 10.In November 2006, Brightwill, a subsidiary of a fund managed by CLSA Private Equity Management, invested $20 million in the company. Brightwill was allotted 18.96 lakh equity shares of the face value of Rs 10 each, fully paid-up, at Rs 485 per share on a preferential basis.
Tamil Nadu Newsprint & Papers buoyant on remarkable Q3 numbers
Tamilnadu Newsprint & Papers surged 1.60% to Rs 95.20, on the back of a 52% jump in net profit for Q3 Dec-2006.The counter clocked 65,861 shares on BSE.The stock has been range-bound since early-December 2006, without any volatile.
The net profit stood at Rs 22.30 crore, up 52% over the corresponding previous year’s quarter. Sales stand at Rs 214.45 crore, up 8% Y-o-Y.Other income contributed significantly to net profit in the third quarter, increasing from Rs 4.36 crore to Rs 7.59 crore.
The demand for paper is rising and the prospects appear good for the industry. Major companies are operating at around 92% capacity. However, rising raw material costs are a concern for the sector but can be accommodated by a hike in product prices.
posted by SY at 1:46 PM
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