Breadth regains health
The market-breadth, a measure of the strength in the broader market, was positive on BSE. For 1,244 shares advancing, 1,219 declined. Just 63 shares were unchanged. The market-breadth was strong in the opening session, but turned negative by early-afternoon, as selling in small-cap and mid-cap stocks set in. But the breadth has bounced back into positive once again.
At 13:28 IST the Sensex was up 15.73 points, at 14,269.11. The benchmark is witnessing volatile movements ahead of the expiry of the February derivative contracts on Thursday (22 February). The BSE Sensex recovered from the day's low (14,157.72), as buying resumed in index pivotals, and went on to strike a high of 14,312.88. Most of this rally was on the back of short-covering.The BSE clocked a turnover of Rs 2519 crore.
Praj Ind seen lucrative on orders, Q3 results
Praj Industries rose 4% to Rs 410, extending a strong uptrend triggered by robust Q3 results and a healthy order backlog.As many as 10.2 lakh shares changed hands in the counter on BSE.
The rally in the stock became more pronounced following the announcement of robust Q3 December 2006 numbers on 9 January 2007. From Rs 226 on 9 January 2007, the Praj Industries stock gained 81.4% in a short while to the current Rs 410. It had spurted in the run-up to the results, which hit the market during trading hours on 9 January 2007. From Rs 181.70 on 27 December 2006, the stock had risen 26.8% to Rs 230.55 by 8 January 2007. The scrip’s entry into futures & options (F&O) and winning of a large order in the US, aided the surge. Praj Industries entered NSE’s F&O segment on 29 December 2006.
Praj Industries net profit jumped 809% in the December 2006 quarter to Rs 33.64 crore. Net sales for the same quarter jumped 232% to Rs 177.87 crore. The company's order backlog was a cool Rs 800 crore at end-December 2006, which is almost three times its FY-2006 sales of Rs 267.50 crore.
Praj Industries is a pioneer in bio-fuel technology and waste-water treatment plants. Around 80% of Praj's revenues come from the distillery business, while the rest comes from brewery and other businesses. Praj plans to spend around Rs 100 crore in the next few years on R&D, capacity expansion and acquisitions.
In early-January 2007, Praj Industries had contracted the second phase of orders from US-based Cilion Group for its Imperial County project, and had also bagged an order from Missouri Valley Energy for its Meckling, South Dakota project. The company also bagged the first order from the sugarcane belt of the US.
The current price of Rs 410 discounts its FY 2006 (year ended 31 March 2006) EPS of Rs 3, by a PE multiple of 136.6.
Tele Data Informatics upbeat on foraying into PCs
Tele Data Informatics surged 2.26% to Rs 52, as the company’s subsidiary is setting up a manufacturing unit for personal computers at Baddi, Himachal Pradesh.A huge volume of 17.20 lakh shares were traded on the BSE.
The Tele Data Informatics scrip has seen a solid surge from mid-December 2006. From a low of Rs 17 on 12 December 2006, it spurted to Rs 53.60 by 7 February 2007, only to slip to Rs 44.80 by 14 February. Here, the stock rose to close at Rs 50.85 by 20 February 2007.
At the current market price of Rs 52, Tele Data Informatics trades at 10.87 times its Q3 December 2006 annualized EPS of Rs 4.78.
eSys Technologies, a subsidiary of Tele Data Informatics, is setting up a PC manufacturing unit in Baddi, Himachal Pradesh, which will become operational later this year. The installed capacity of the plant will be 12 lakh units per annum, and the total capital investment is expected be around Rs 250 crore.
This Baddi unit will provide employment opportunities to nearly 300-400 people in the region. Facilities like R&D, product reliability engineering, incoming quality control, logistics and MIS would be part of the plant.
Recently, Tele Data Informatics had acquired majority stake in eSys Technologies, Singapore, for $105 million. The investment will enable the company to accelerate the business.
In December 2006, Tele Data Informatics had planned to split itself into three separate entities, focussing on specific businesses. The de-merged entities will be Tele Data Marine Solutions, Tele Data Technology Solutions, and Tele Data Informatics (the company).
Tele Data Marine Solutions will focus on software solutions for the marine sector. The unit will also operate ships. Tele Data Technology Solutions, another entity to be carved out, will provide ERP and CRM solutions, whereas Tele Data Informatics, the third, will focus on providing education, and agro biotech.
The logic for the de-merger is that each business was distinct and had significant potential for growth. The de-merger will ensure better operational management, and will focus on accelerated growth of individual units, ensuring higher returns.
Further, Tele Data Informatics had also signed a memorandum of understanding (MoU) with the MP Government to connect villages in the state to district headquarters and to the State Capital through wireless broadband connectivity. The project will bring in revenue of Rs 60 crore per annum over five years.
Tele Data Informatics posted a net profit growth of 138.50% to Rs 82.03 crore (Rs 34.39 crore) in Q3 December 2006. Net sales during the quarter rose 115.50% to Rs 310.15 crore from Rs 143.91 crore in the year ago quarter.
Prithvi Information extends gains on raising $50 million
Prithvi Information Solutions surged 5% to Rs 359.50, after the company said it had raised $50 million from an issue of FCCBs.As many as 6.1 lakh shares changed hands in the counter on BSE.
The stock had recovered from the lower level ahead of the announcement. From Rs 315.55 on 14 February 2007, it surged to Rs 341.95 by 20 February 2007. Earlier, the stock witnessed a sharp fall, when it tumbled to Rs 315.55 by 14 February 2007, from Rs 387.90 on 22 January 2007.
Prithvi Information Solutions fixed the conversion price for the convertible bonds at Rs 469.13 per equity share. This is a 30% premium over the current market price of Rs 359.50. The yield to maturity on the bonds will be 8.58%, the company added.
Earlier, there were reports that Prithvi Information Solutions was planning to raise funds for overseas takeovers. The company was in talks with three boutique companies in the US, and one in the UK, across the enterprise solutions, manufacturing, healthcare, and insurance verticals, reports had suggested a few months back.
Prithvi Information Solutions is a global provider of customised IT solutions and software services to the clients. It operates through four strategic business units -- application development, network solutions, intelligence solutions, process outsourcing with presence in the US, Europe, Dubai, India and Singapore. Its domain expertise spreads across various verticals -- technology, banking and finance, insurance, technology, telecom, healthcare, manufacturing and e-governance.
Prithvi Information Solutions reported 62.9% growth in net profit in the December 2006 quarter to Rs 23.37 crore, on 71.1% growth in sales to Rs 199.35 crore.
At 13:28 IST the Sensex was up 15.73 points, at 14,269.11. The benchmark is witnessing volatile movements ahead of the expiry of the February derivative contracts on Thursday (22 February). The BSE Sensex recovered from the day's low (14,157.72), as buying resumed in index pivotals, and went on to strike a high of 14,312.88. Most of this rally was on the back of short-covering.The BSE clocked a turnover of Rs 2519 crore.
Praj Ind seen lucrative on orders, Q3 results
Praj Industries rose 4% to Rs 410, extending a strong uptrend triggered by robust Q3 results and a healthy order backlog.As many as 10.2 lakh shares changed hands in the counter on BSE.
The rally in the stock became more pronounced following the announcement of robust Q3 December 2006 numbers on 9 January 2007. From Rs 226 on 9 January 2007, the Praj Industries stock gained 81.4% in a short while to the current Rs 410. It had spurted in the run-up to the results, which hit the market during trading hours on 9 January 2007. From Rs 181.70 on 27 December 2006, the stock had risen 26.8% to Rs 230.55 by 8 January 2007. The scrip’s entry into futures & options (F&O) and winning of a large order in the US, aided the surge. Praj Industries entered NSE’s F&O segment on 29 December 2006.
Praj Industries net profit jumped 809% in the December 2006 quarter to Rs 33.64 crore. Net sales for the same quarter jumped 232% to Rs 177.87 crore. The company's order backlog was a cool Rs 800 crore at end-December 2006, which is almost three times its FY-2006 sales of Rs 267.50 crore.
Praj Industries is a pioneer in bio-fuel technology and waste-water treatment plants. Around 80% of Praj's revenues come from the distillery business, while the rest comes from brewery and other businesses. Praj plans to spend around Rs 100 crore in the next few years on R&D, capacity expansion and acquisitions.
In early-January 2007, Praj Industries had contracted the second phase of orders from US-based Cilion Group for its Imperial County project, and had also bagged an order from Missouri Valley Energy for its Meckling, South Dakota project. The company also bagged the first order from the sugarcane belt of the US.
The current price of Rs 410 discounts its FY 2006 (year ended 31 March 2006) EPS of Rs 3, by a PE multiple of 136.6.
Tele Data Informatics upbeat on foraying into PCs
Tele Data Informatics surged 2.26% to Rs 52, as the company’s subsidiary is setting up a manufacturing unit for personal computers at Baddi, Himachal Pradesh.A huge volume of 17.20 lakh shares were traded on the BSE.
The Tele Data Informatics scrip has seen a solid surge from mid-December 2006. From a low of Rs 17 on 12 December 2006, it spurted to Rs 53.60 by 7 February 2007, only to slip to Rs 44.80 by 14 February. Here, the stock rose to close at Rs 50.85 by 20 February 2007.
At the current market price of Rs 52, Tele Data Informatics trades at 10.87 times its Q3 December 2006 annualized EPS of Rs 4.78.
eSys Technologies, a subsidiary of Tele Data Informatics, is setting up a PC manufacturing unit in Baddi, Himachal Pradesh, which will become operational later this year. The installed capacity of the plant will be 12 lakh units per annum, and the total capital investment is expected be around Rs 250 crore.
This Baddi unit will provide employment opportunities to nearly 300-400 people in the region. Facilities like R&D, product reliability engineering, incoming quality control, logistics and MIS would be part of the plant.
Recently, Tele Data Informatics had acquired majority stake in eSys Technologies, Singapore, for $105 million. The investment will enable the company to accelerate the business.
In December 2006, Tele Data Informatics had planned to split itself into three separate entities, focussing on specific businesses. The de-merged entities will be Tele Data Marine Solutions, Tele Data Technology Solutions, and Tele Data Informatics (the company).
Tele Data Marine Solutions will focus on software solutions for the marine sector. The unit will also operate ships. Tele Data Technology Solutions, another entity to be carved out, will provide ERP and CRM solutions, whereas Tele Data Informatics, the third, will focus on providing education, and agro biotech.
The logic for the de-merger is that each business was distinct and had significant potential for growth. The de-merger will ensure better operational management, and will focus on accelerated growth of individual units, ensuring higher returns.
Further, Tele Data Informatics had also signed a memorandum of understanding (MoU) with the MP Government to connect villages in the state to district headquarters and to the State Capital through wireless broadband connectivity. The project will bring in revenue of Rs 60 crore per annum over five years.
Tele Data Informatics posted a net profit growth of 138.50% to Rs 82.03 crore (Rs 34.39 crore) in Q3 December 2006. Net sales during the quarter rose 115.50% to Rs 310.15 crore from Rs 143.91 crore in the year ago quarter.
Prithvi Information extends gains on raising $50 million
Prithvi Information Solutions surged 5% to Rs 359.50, after the company said it had raised $50 million from an issue of FCCBs.As many as 6.1 lakh shares changed hands in the counter on BSE.
The stock had recovered from the lower level ahead of the announcement. From Rs 315.55 on 14 February 2007, it surged to Rs 341.95 by 20 February 2007. Earlier, the stock witnessed a sharp fall, when it tumbled to Rs 315.55 by 14 February 2007, from Rs 387.90 on 22 January 2007.
Prithvi Information Solutions fixed the conversion price for the convertible bonds at Rs 469.13 per equity share. This is a 30% premium over the current market price of Rs 359.50. The yield to maturity on the bonds will be 8.58%, the company added.
Earlier, there were reports that Prithvi Information Solutions was planning to raise funds for overseas takeovers. The company was in talks with three boutique companies in the US, and one in the UK, across the enterprise solutions, manufacturing, healthcare, and insurance verticals, reports had suggested a few months back.
Prithvi Information Solutions is a global provider of customised IT solutions and software services to the clients. It operates through four strategic business units -- application development, network solutions, intelligence solutions, process outsourcing with presence in the US, Europe, Dubai, India and Singapore. Its domain expertise spreads across various verticals -- technology, banking and finance, insurance, technology, telecom, healthcare, manufacturing and e-governance.
Prithvi Information Solutions reported 62.9% growth in net profit in the December 2006 quarter to Rs 23.37 crore, on 71.1% growth in sales to Rs 199.35 crore.
Labels: Praj Industries, Prithvi Information Solutions, Tele Data Informatics
posted by SY at 2:24 PM
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