Wipro supports Sensex at open
The Sensex opened firm, as buying continued for index pivotals, especially Wipro, which came out with strong results for the December quarter.
At 10:19 the BSE Sensex was up 29.26 points, to 14,143.23. It had opened higher, at 14,133.78, and slipped to a low of 14,094.50, where it recovered to again reach a high of 14,157.02.
The total turnover on BSE amounted to Rs 588 crore.The market-breadth was strong on BSE, with over 2.5 gainers for every loser. For 1,205 shares advancing on BSE, 329 declined.Among the Sensex pack, 24 advanced while the rest declined.
Cement maker ACC was the top gainer, up 1.51% to Rs 1115, on a volume of 16,769 shares.
Wipro extends bull-run on strong Q3 results
Wipro rose 2% to Rs 650, after the company reported a 40% year-on-year rise in net profit for December 2006 quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The stock had witnessed a solid pre-results' rally amid a bout of correction. From Rs 555.45 on 20 December 2006, it surged 14.6% to Rs 636.85 by 17 January 2007. Wipro announced Q3 results before trading hours today.
Wipro’s net profit as per US GAAP jumped 40% on a year-on-year basis to Rs 745 crore in December 2006 quarter.
Total revenue surged 43% to Rs 3964 crore. Global IT services and products revenue was Rs 2867 crore, an increase of 35% over the same period last year. Global IT services and products earnings before interest and tax (EBIT) was Rs 683 crore, an increase of 32% over the same period last year. Global IT services and products added 37 new clients during the quarter.
Suresh Senapaty, Chief Financial Officer of Wipro, said "Operational improvements and improved profitability in our BPO business and acquisitions portfolio helped us in largely offsetting the pressure on profitability arising out of wage increases and rupee appreciation."
Wipro expects revenue from its global IT services & products business to be approximately $685 million in March 2007 quarter. The segment had clocked revenue of $640.5 million in December 2006 quarter.
Gujarat Ambuja Exports in demand after healthy Q3 outcome
Agro-processor Gujarat Ambuja Exports surged nearly 5% to Rs 33.75, after the company reported an 84% surge in net profit for December 2006 quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The stock had spurted since early-January 2007 partly due to the company’s announcement on 5 January about a board meeting on 16 January 2007 to consider a buy-back of up to 10% of capital and free reserves. From Rs 27.85 on 5 January 2007, the stock had surged 15.7% to Rs 32.25 by 16 January. The results hit the market after trading hours on 16 January 2007.
Gujarat Ambuja Exports registered an 84% surge in December 2006 quarter net profit to Rs 14.21 crore (Rs 7.71 crore). Net sales went up to Rs 393.86 crore from Rs 343.90 crore.
Meanwhile, the company’s board has approved a buyback of equity shares aggregating to Rs 26.25 crore, and not exceeding 10% of the paid-up share capital and free reserves, at a maximum Rs 38 per share, through the open market.
Gujarat Ambuja Exports manufactures refined castor oil, hydrated castor oil and hydrogenated castor oil.
The company plans to set up its first maize-based ethanol and extra- neutral alcholol (ENA) plant at Nashik. The Rs 100 crore plant will be operational by September 2007. An additional Rs 225 crore will be pumped into the project after commencement.
Gujarat Ambuja Exports had commissioned two wind mills, each of 1.250 MW at village Vanku, Kutch, on 22 September 2006, while another wind mill of 0.8 Mw capacity was commissioned on 12 September at Satapar, Jamnagar, Gujarat.
At 10:19 the BSE Sensex was up 29.26 points, to 14,143.23. It had opened higher, at 14,133.78, and slipped to a low of 14,094.50, where it recovered to again reach a high of 14,157.02.
The total turnover on BSE amounted to Rs 588 crore.The market-breadth was strong on BSE, with over 2.5 gainers for every loser. For 1,205 shares advancing on BSE, 329 declined.Among the Sensex pack, 24 advanced while the rest declined.
Cement maker ACC was the top gainer, up 1.51% to Rs 1115, on a volume of 16,769 shares.
Wipro extends bull-run on strong Q3 results
Wipro rose 2% to Rs 650, after the company reported a 40% year-on-year rise in net profit for December 2006 quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The stock had witnessed a solid pre-results' rally amid a bout of correction. From Rs 555.45 on 20 December 2006, it surged 14.6% to Rs 636.85 by 17 January 2007. Wipro announced Q3 results before trading hours today.
Wipro’s net profit as per US GAAP jumped 40% on a year-on-year basis to Rs 745 crore in December 2006 quarter.
Total revenue surged 43% to Rs 3964 crore. Global IT services and products revenue was Rs 2867 crore, an increase of 35% over the same period last year. Global IT services and products earnings before interest and tax (EBIT) was Rs 683 crore, an increase of 32% over the same period last year. Global IT services and products added 37 new clients during the quarter.
Suresh Senapaty, Chief Financial Officer of Wipro, said "Operational improvements and improved profitability in our BPO business and acquisitions portfolio helped us in largely offsetting the pressure on profitability arising out of wage increases and rupee appreciation."
Wipro expects revenue from its global IT services & products business to be approximately $685 million in March 2007 quarter. The segment had clocked revenue of $640.5 million in December 2006 quarter.
Gujarat Ambuja Exports in demand after healthy Q3 outcome
Agro-processor Gujarat Ambuja Exports surged nearly 5% to Rs 33.75, after the company reported an 84% surge in net profit for December 2006 quarter.A strong 1.3 lakh shares changed hands in the counter on BSE.
The stock had spurted since early-January 2007 partly due to the company’s announcement on 5 January about a board meeting on 16 January 2007 to consider a buy-back of up to 10% of capital and free reserves. From Rs 27.85 on 5 January 2007, the stock had surged 15.7% to Rs 32.25 by 16 January. The results hit the market after trading hours on 16 January 2007.
Gujarat Ambuja Exports registered an 84% surge in December 2006 quarter net profit to Rs 14.21 crore (Rs 7.71 crore). Net sales went up to Rs 393.86 crore from Rs 343.90 crore.
Meanwhile, the company’s board has approved a buyback of equity shares aggregating to Rs 26.25 crore, and not exceeding 10% of the paid-up share capital and free reserves, at a maximum Rs 38 per share, through the open market.
Gujarat Ambuja Exports manufactures refined castor oil, hydrated castor oil and hydrogenated castor oil.
The company plans to set up its first maize-based ethanol and extra- neutral alcholol (ENA) plant at Nashik. The Rs 100 crore plant will be operational by September 2007. An additional Rs 225 crore will be pumped into the project after commencement.
Gujarat Ambuja Exports had commissioned two wind mills, each of 1.250 MW at village Vanku, Kutch, on 22 September 2006, while another wind mill of 0.8 Mw capacity was commissioned on 12 September at Satapar, Jamnagar, Gujarat.
posted by SY at 12:13 PM
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