State-run oil retailers storm ahead
Refinery stocks surged following a sharp decline in global crude oil prices, which dived to a 19-month low on Tuesday as warmer-than-normal temperatures prevailed in the Northeast US, and after Saudi Arabia said further production cut was unnecessary. New York's main oil futures contract, light sweet crude for delivery in February, fell 1.78 dollars to close at 51.21 dollars a barrel. In London, Brent North Sea crude for delivery in February lost 86 cents to settle at 52.26 dollars a barrel.
State-run oil marketers were upbeat as a result. HPCL (up 4.47% to Rs 311.80), BPCL (up 3.20% to Rs 358.75) and IOC (up 2.96% to Rs 475.50) had posted considerable gains.
The market bounced back into positive, as buying resumed at lower levels. At 13:33 IST the Sensex was up 16.04 points, to 14,130.77. It had opened higher, at 14,133.78, as buying continued after Wipro came out with solid results. It also struck a high of 14,170.65 for the day, its low being 14,089.63.
The market-breadth was strong on BSE, as buying continued for small-cap and mid-cap stocks. Analysts expect buying to shift to this space, anticipating robust results for the December quarter. There were around two gainers for every loser on BSE. Against 1,708 shares advancing, 888 declined, and 52 did not change.
The total turnover on BSE amounted to Rs 2942 crore.Among the 30-Sensex pack, 21 advanced while the rest declined.Reliance Communications was the top gainer, up 2.21% to Rs 439.70, on a volume of 8.92 lakh shares.
ABG Shipyard soars on mammoth contract
ABG Shipyard jumped 20% to Rs 376.70, after the firm said it had received an order valued at Rs 1030.50 crore.The company will build 12 vessels for Singapore's Pacific First Shipping Pte.There were outstanding buy orders for 46,591 shares at the 20% upper limit. A strong 7.9 lakh shares changed hands in the counter on BSE.The stock had witnessed a solid surge in the past one month. From Rs 211.15 on 12 December 2006, it surged to Rs 313.95 by 16 January 2007.
With the latest work-order, the company’s order-book stands at about Rs 3475.50 crore. ABG Shipyard builds a wide range of ships for bulk goods transport, coast guard and the oil industry.
Early this month, ABG Shipyard secured a repeat order from Gujarat Ambuja Cements (GACL) for constructing a self loading-unloading vessel for $ 9.90 million.
ABG had raised money through an initial public offer (IPO) in late 2005 to build a new shipyard at Dahej, Gujarat.
ABG Shipyard is the largest private sector shipyard in the country. As per recent reports, the company will foray into ship repair and manufacture of very large crude carriers (VLCCs) from the next fiscal. The company also plans to target specialised segments like short sea shipping and chemical tankers, where margins are higher.
ABG Shipyard’s net profit rose 42.8% to Rs 27.1 crore in Q2 September 2006, compared to Rs 18.9 crore in the corresponding period a year ago. During the quarter, the company's income was Rs 167.9 crore, against Rs 113.9 crore in the same period last fiscal, representing an increase of 47.45%.
Kale Consultants jumps on attracting MNC client
Kale Consultants surged 7.4% to Rs 135, after a multinational logistics provider asked the company to automate its ocean, air and multi-modal freight operations.
Direct Logistics, a multinational freight-forwarding & logistics group, selected Kale Consultants to develop a web-enabled solution to facilitate automisation of its operations.
A strong 3.3 lakh shares changed hands in the counter on BSE.The announcement of this project was already made in the NSE website on 15 January 2007, but surfaced on BSE's site only today. The stock was range-bound, moving between Rs 126 and Rs 128, from 12 January to 16 January.The scrip has had a successful run over the past few weeks. From Rs 99.30 on 20 December 2006, it rose 29% to Rs 128.25 by 12 January 2007.
The national airline of Portugal - TAP Portugal recently reiterated its bonding with Kale Consultants by awarding another contract for implementing Kale's Cargo Management System - CSP. Kale has already implemented its passenger proration solutions for TAP Portugal.
Besides the TAP Portugal contract, Kale Consultants also signed up with SkyTeam, the global airline alliance, for implementing its Neutral Fare Proration (NFP) engine for International Air Transport Association's First and Final Billing Service.
Kale Consultants is looking at a complete transformation within a time span of three years, when it will have a presence across all segments of travel and transportation.
Kale Consultants has posted a 229% rise in net profit at Rs 1.71 crore (Rs 0.52 crore) for the quarter ended September 30, 2006. Net sales stood at Rs 18.9 crore (Rs 15.3 crore), a 23% growth.
Disproportionate extraneous income hits Kirloskar Oil Engines hard
Kirloskar Oil Engines plunged 6% to Rs 263, as Q3 bottomline was boosted by huge extraordinary income during the quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The company’s net profit rose sharply to Rs 35.38 crore from Rs 21.28 crore in December 2005 quarter. Data on BSE website showed that there was a huge extra-ordindary income of Rs 14.04 crore in December 2006 quarter. The extra-ordinary item was the profit that the company made from a sale of shares of G G Dandekar Machine Works. Sales rose 32.9% to Rs 456.42 crore (Rs 343.28 crore).
Kirloskar Oil Engines (KOEL) scrip moved in a band since the past two months. It moved between Rs 262 and Rs 299 since mid-November 2006.
KOEL is one of the leading manufacturers of 5 HP-11,000 HP diesel engines in India. The engines find application in agriculture (tractors and pumpsets), power-generation, mining, material-handling, construction, earth-moving, industrial equipment and telecom.
Its business is divided into two segments—engine and non-engine. Engines contribute almost 80% to the company's revenues. At present, the 500 HP - 800 HP engines are procured from Daewoo, Korea, but KOEL plans to produce these FY 2008 (year ending 31 March 2008) onwards, to become cost-competitive.
KOEL exports engines, pumpsets and generating sets mainly to Africa, the Middle East, and to other Asian countries. The company's export strategy is to secure OEM contracts in developed markets, especially in Europe and US, for tractor and construction equipment engines.
Recently, KOEL executed an agreement with group firm, Kirloskar Ferrous Industries, to sale of its castings division to the latter for Rs 21 crore.
State-run oil marketers were upbeat as a result. HPCL (up 4.47% to Rs 311.80), BPCL (up 3.20% to Rs 358.75) and IOC (up 2.96% to Rs 475.50) had posted considerable gains.
The market bounced back into positive, as buying resumed at lower levels. At 13:33 IST the Sensex was up 16.04 points, to 14,130.77. It had opened higher, at 14,133.78, as buying continued after Wipro came out with solid results. It also struck a high of 14,170.65 for the day, its low being 14,089.63.
The market-breadth was strong on BSE, as buying continued for small-cap and mid-cap stocks. Analysts expect buying to shift to this space, anticipating robust results for the December quarter. There were around two gainers for every loser on BSE. Against 1,708 shares advancing, 888 declined, and 52 did not change.
The total turnover on BSE amounted to Rs 2942 crore.Among the 30-Sensex pack, 21 advanced while the rest declined.Reliance Communications was the top gainer, up 2.21% to Rs 439.70, on a volume of 8.92 lakh shares.
ABG Shipyard soars on mammoth contract
ABG Shipyard jumped 20% to Rs 376.70, after the firm said it had received an order valued at Rs 1030.50 crore.The company will build 12 vessels for Singapore's Pacific First Shipping Pte.There were outstanding buy orders for 46,591 shares at the 20% upper limit. A strong 7.9 lakh shares changed hands in the counter on BSE.The stock had witnessed a solid surge in the past one month. From Rs 211.15 on 12 December 2006, it surged to Rs 313.95 by 16 January 2007.
With the latest work-order, the company’s order-book stands at about Rs 3475.50 crore. ABG Shipyard builds a wide range of ships for bulk goods transport, coast guard and the oil industry.
Early this month, ABG Shipyard secured a repeat order from Gujarat Ambuja Cements (GACL) for constructing a self loading-unloading vessel for $ 9.90 million.
ABG had raised money through an initial public offer (IPO) in late 2005 to build a new shipyard at Dahej, Gujarat.
ABG Shipyard is the largest private sector shipyard in the country. As per recent reports, the company will foray into ship repair and manufacture of very large crude carriers (VLCCs) from the next fiscal. The company also plans to target specialised segments like short sea shipping and chemical tankers, where margins are higher.
ABG Shipyard’s net profit rose 42.8% to Rs 27.1 crore in Q2 September 2006, compared to Rs 18.9 crore in the corresponding period a year ago. During the quarter, the company's income was Rs 167.9 crore, against Rs 113.9 crore in the same period last fiscal, representing an increase of 47.45%.
Kale Consultants jumps on attracting MNC client
Kale Consultants surged 7.4% to Rs 135, after a multinational logistics provider asked the company to automate its ocean, air and multi-modal freight operations.
Direct Logistics, a multinational freight-forwarding & logistics group, selected Kale Consultants to develop a web-enabled solution to facilitate automisation of its operations.
A strong 3.3 lakh shares changed hands in the counter on BSE.The announcement of this project was already made in the NSE website on 15 January 2007, but surfaced on BSE's site only today. The stock was range-bound, moving between Rs 126 and Rs 128, from 12 January to 16 January.The scrip has had a successful run over the past few weeks. From Rs 99.30 on 20 December 2006, it rose 29% to Rs 128.25 by 12 January 2007.
The national airline of Portugal - TAP Portugal recently reiterated its bonding with Kale Consultants by awarding another contract for implementing Kale's Cargo Management System - CSP. Kale has already implemented its passenger proration solutions for TAP Portugal.
Besides the TAP Portugal contract, Kale Consultants also signed up with SkyTeam, the global airline alliance, for implementing its Neutral Fare Proration (NFP) engine for International Air Transport Association's First and Final Billing Service.
Kale Consultants is looking at a complete transformation within a time span of three years, when it will have a presence across all segments of travel and transportation.
Kale Consultants has posted a 229% rise in net profit at Rs 1.71 crore (Rs 0.52 crore) for the quarter ended September 30, 2006. Net sales stood at Rs 18.9 crore (Rs 15.3 crore), a 23% growth.
Disproportionate extraneous income hits Kirloskar Oil Engines hard
Kirloskar Oil Engines plunged 6% to Rs 263, as Q3 bottomline was boosted by huge extraordinary income during the quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The company’s net profit rose sharply to Rs 35.38 crore from Rs 21.28 crore in December 2005 quarter. Data on BSE website showed that there was a huge extra-ordindary income of Rs 14.04 crore in December 2006 quarter. The extra-ordinary item was the profit that the company made from a sale of shares of G G Dandekar Machine Works. Sales rose 32.9% to Rs 456.42 crore (Rs 343.28 crore).
Kirloskar Oil Engines (KOEL) scrip moved in a band since the past two months. It moved between Rs 262 and Rs 299 since mid-November 2006.
KOEL is one of the leading manufacturers of 5 HP-11,000 HP diesel engines in India. The engines find application in agriculture (tractors and pumpsets), power-generation, mining, material-handling, construction, earth-moving, industrial equipment and telecom.
Its business is divided into two segments—engine and non-engine. Engines contribute almost 80% to the company's revenues. At present, the 500 HP - 800 HP engines are procured from Daewoo, Korea, but KOEL plans to produce these FY 2008 (year ending 31 March 2008) onwards, to become cost-competitive.
KOEL exports engines, pumpsets and generating sets mainly to Africa, the Middle East, and to other Asian countries. The company's export strategy is to secure OEM contracts in developed markets, especially in Europe and US, for tractor and construction equipment engines.
Recently, KOEL executed an agreement with group firm, Kirloskar Ferrous Industries, to sale of its castings division to the latter for Rs 21 crore.
posted by SY at 3:56 PM
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