Bounce back after an initial setback
The market came off the lower level after a sharp slide at the onset of trading, triggered by data showing heavy FII sales in index-based futures on Monday (12 February 2007). The Sensex had tanked 348 points on Monday.
Auto shares edged higher.At 10:23 IST the Sensex was up 12.72 points, at 14,203.42. It came off the lower level after losing as many as 177.24 points to a low of 14,013.46 at the start of trading.
The market-breadth turned positive from negative. For 1,004 shares rising on BSE, 801 declined. Just 48 shares were unchanged. Losers outpaced gainers by a ratio of 1.25:1.The BSE clocked a turnover of Rs 760 crore.
Auto shares edged higher following a sharp fall in global crude oil prices on Monday. Bajaj Auto gained 1.5% to Rs 2988, Tata Motors rose 0.6% to Rs 880 and car major Maruti Udyog gained 0.7% to Rs 918.90.
HCL Tech slips on record date for bonus issue
HCL Tech dropped 2.4% to Rs 640, after the company on Monday set 16 March 2007 as record date for a generous 1:1 bonus issue.As many as 2,001 shares changed hands in the counter on BSE. The stock had lost just 0.6% to Rs 655.95 on Monday (12 February 2007), less than the Sensex’s 2.3% drop.
HCL Technologies recently bagged a $200-million order from Skandia UK, an independent provider of long-term savings solutions. As part of the deal, Skandia UK will outsource application optimisation, including development, maintenance and support (across all platforms) and remote infrastructure management to HCL.
HCL Technologies has recently announced that it has been selected by The Boeing Company (Boeing) as a software development partner for the 787 Dreamliner (formerly known as the 7E7) programme. Under this contract, HCL Technologies will provide software services to Boeing as well as its Tier 1 systems suppliers for the 787 programme, which opens a new chapter in HCL's aerospace services practice.
HCL Technologies reported an excellent set of numbers for the second quarter ended 31 December 2006. On a sequential basis, the net profit rose 14% to Rs 286.20 crore. Topline rose 6% sequentially, to Rs 1465.10 crore.
Syngenta India zooms
Agri-business firm Syngenta India climbed 11.19% to Rs 418.95, after the company decided to seek approval from members to delist from the BSE.As many as 33,889 shares were traded on the BSE.The scrip was immensely volatile since mid-December 2006. From a low of Rs 302.10 on 12 December 2006, it surged to Rs 426.80 by 15 January 2007, only to fall to Rs 376.80 by 12 February 2006.
At the current market price of Rs 418.95, Syngenta India trades at 24.34 times its Q4 December 2006 annualized EPS of Rs 17.21.
Syngenta India has decided to seek shareholders' approval on 15 March 2007 to de-list from the Bombay Stock Exchange (BSE). The company said it had received the de-listing proposal from Syngenta South Asia AG, which along with affiliates, holds 84.02% in the Indian company.
On the same day, Syngenta India reported a sharp fall in net profit in the December 2006 quarter to Rs 13.71 crore from Rs 35.80 crore in the December 2005 quarter. Revenue for the quarter rose 11% to Rs 292.15 crore from Rs 263.12 crore in the corresponding quarter of the previous fiscal.
In January 2007, Syngenta India, which was born out of a merger between Novartis and Astra Zeneca's agribusiness units in 2000, had set up a new research facility in Goa. The centre, which cost Rs 37.5 crore, is only the third such apart from the firm's main centres in North America and Europe. Almost 68% of Syngenta's product portfolio comes from crop protection (insecticides, pesticides,herbicides) and the balance from seeds and professional products.
Syngenta had earlier in August 2006 tied up with Super Spinning Mills to introduce quantity and quality programme in cotton under contract farming in Tamil Nadu. Both have successfully tried out the `Syngenta Q&Q' programme, aimed at enhancing the per-acre yield and the quality of cotton.
Syngenta India is an 84% subsidiary of US-based Syngenta. The Syngenta group is a world leader in crop protection and world number three in the high-value commercial seeds market. The group is spread over 90 countries, and employs more than 19,000 people. Syngenta was formed globally as a result of the spin-off and merger of Novartis’ crop protection and seeds businesses with Astra-Zeneca's agro-chemicals business.
Syngenta India has a very well-diversified product portfolio spanning herbicides, fungicides, pesticides as well as seeds for various crops, including paddy, soyabean, sunflower, cotton, wheat, rice, tea and groundnut. This protects the company from adverse conditions affecting particular crops, while fetching higher margins on herbicides and fungicides.
Auto shares edged higher.At 10:23 IST the Sensex was up 12.72 points, at 14,203.42. It came off the lower level after losing as many as 177.24 points to a low of 14,013.46 at the start of trading.
The market-breadth turned positive from negative. For 1,004 shares rising on BSE, 801 declined. Just 48 shares were unchanged. Losers outpaced gainers by a ratio of 1.25:1.The BSE clocked a turnover of Rs 760 crore.
Auto shares edged higher following a sharp fall in global crude oil prices on Monday. Bajaj Auto gained 1.5% to Rs 2988, Tata Motors rose 0.6% to Rs 880 and car major Maruti Udyog gained 0.7% to Rs 918.90.
HCL Tech slips on record date for bonus issue
HCL Tech dropped 2.4% to Rs 640, after the company on Monday set 16 March 2007 as record date for a generous 1:1 bonus issue.As many as 2,001 shares changed hands in the counter on BSE. The stock had lost just 0.6% to Rs 655.95 on Monday (12 February 2007), less than the Sensex’s 2.3% drop.
HCL Technologies recently bagged a $200-million order from Skandia UK, an independent provider of long-term savings solutions. As part of the deal, Skandia UK will outsource application optimisation, including development, maintenance and support (across all platforms) and remote infrastructure management to HCL.
HCL Technologies has recently announced that it has been selected by The Boeing Company (Boeing) as a software development partner for the 787 Dreamliner (formerly known as the 7E7) programme. Under this contract, HCL Technologies will provide software services to Boeing as well as its Tier 1 systems suppliers for the 787 programme, which opens a new chapter in HCL's aerospace services practice.
HCL Technologies reported an excellent set of numbers for the second quarter ended 31 December 2006. On a sequential basis, the net profit rose 14% to Rs 286.20 crore. Topline rose 6% sequentially, to Rs 1465.10 crore.
Syngenta India zooms
Agri-business firm Syngenta India climbed 11.19% to Rs 418.95, after the company decided to seek approval from members to delist from the BSE.As many as 33,889 shares were traded on the BSE.The scrip was immensely volatile since mid-December 2006. From a low of Rs 302.10 on 12 December 2006, it surged to Rs 426.80 by 15 January 2007, only to fall to Rs 376.80 by 12 February 2006.
At the current market price of Rs 418.95, Syngenta India trades at 24.34 times its Q4 December 2006 annualized EPS of Rs 17.21.
Syngenta India has decided to seek shareholders' approval on 15 March 2007 to de-list from the Bombay Stock Exchange (BSE). The company said it had received the de-listing proposal from Syngenta South Asia AG, which along with affiliates, holds 84.02% in the Indian company.
On the same day, Syngenta India reported a sharp fall in net profit in the December 2006 quarter to Rs 13.71 crore from Rs 35.80 crore in the December 2005 quarter. Revenue for the quarter rose 11% to Rs 292.15 crore from Rs 263.12 crore in the corresponding quarter of the previous fiscal.
In January 2007, Syngenta India, which was born out of a merger between Novartis and Astra Zeneca's agribusiness units in 2000, had set up a new research facility in Goa. The centre, which cost Rs 37.5 crore, is only the third such apart from the firm's main centres in North America and Europe. Almost 68% of Syngenta's product portfolio comes from crop protection (insecticides, pesticides,herbicides) and the balance from seeds and professional products.
Syngenta had earlier in August 2006 tied up with Super Spinning Mills to introduce quantity and quality programme in cotton under contract farming in Tamil Nadu. Both have successfully tried out the `Syngenta Q&Q' programme, aimed at enhancing the per-acre yield and the quality of cotton.
Syngenta India is an 84% subsidiary of US-based Syngenta. The Syngenta group is a world leader in crop protection and world number three in the high-value commercial seeds market. The group is spread over 90 countries, and employs more than 19,000 people. Syngenta was formed globally as a result of the spin-off and merger of Novartis’ crop protection and seeds businesses with Astra-Zeneca's agro-chemicals business.
Syngenta India has a very well-diversified product portfolio spanning herbicides, fungicides, pesticides as well as seeds for various crops, including paddy, soyabean, sunflower, cotton, wheat, rice, tea and groundnut. This protects the company from adverse conditions affecting particular crops, while fetching higher margins on herbicides and fungicides.
Labels: HCL Tech Bonus record date, Syngenta India delisting
posted by SY at 11:57 AM
0 Comments:
Post a Comment
<< Home