Market, breadth sustain strength
The market held firm in the afternoon on renewed buying in blue chips after a recent sharp fall. IT, banking and auto shares were in demand. Index heavyweight Reliance Industries (RIL) held firm. However, Hindalco declined for the second day in a row. Bharti Airtel and ONGC also surged.
At 13:36 IST the Sensex was up 147 points, at 14,337. The Sensex rose as many as 172.04 points, to a high of 14,363.74, surpassing its earlier intra-day high of 14,327.17 struck at 12:13 IST. In early trade, the 30-shares BSE Sensex had tumbled as many as 177.24 points, to a low of 14,013.46.
The market-breadth was strong. Against 1,665 shares rising on BSE, 861 declined. Just 48 shares were unchanged. Gainers outpaced losers by a ratio of nearly 2:1. The BSE clocked a turnover of Rs 2917 crore.
Bharti Airtel surged 5% to Rs 766, on reports that it had signed an infrastructure sharing agreement with Vodafone, which will allow both operators to share nearly 70,000 mobile towers across the country. Vodafone on Sunday emerged as a top bidder for the fourth largest cellular firm, Hutch-Essar. Meanwhile, on the first day (12 February 2007), an IPO of Idea Cellular was subscribed 0.43 times.
Global Broadcast News springs after Reliance Capital picks up stake
Global Broadcast News surged 4.36% to Rs 515, after Reliance Capital acquired 6.27% stake in it on Monday.The stock clocked 16 lakh shares on the BSE.
Global Broadcast News debuted at Rs 417.10 on 8 February. It surged 22.29%, to close at Rs 510.10 compared with the opening price. The next day, the scrip slipped to Rs 490.95, only to edge up to Rs 493.50 by 12 February 2007.
Global Broadcast News (GBN) had priced its IPO at the upper end of the Rs 230 - Rs 250 price band. The face value per share is Rs 10. The issue was subscribed heavily although FIIs were prohibited. FIIs can, however, buy the shares in the secondary market. The post-issue equity of the company is Rs 26.72 crore.
GBN, part of the TV18 group, owns and operates the leading 24-hour English language news and current affairs channel, CNN-IBN, since the launch in December 2005.
Recently, GBN entered into a share-subscription-cum-shareholder agreement with the Gupta family, BK Fincap and Jagran TV, acquiring 49% stake in BK Fincap, which, in turn, holds 82.1% of Jagran TV, the owner of IBN 7, a 24-hour Hindi language news and current affairs channel, for Rs 68 crore.
GBN also holds 15% equity of Web 18 Holdings, which operates the portal business of the TV18 group. GBN has an agreement with CNN for an exclusive, limited, non-transferable right to use and reproduce the CNN name and principal logo.
Currently, more than 90% of the revenue of GBN is derived from advertisements.GBN reported a net loss of Rs 26 crore on revenue of Rs 24 crore in the six months ended September 2006.
Deccan Chronicle Holdings gains on plan for Bangalore edition
Deccan Chronicle Holdings rose 1.81% to Rs 855, on scheduling a board meeting for 21 February to consider a proposal for the Bangalore edition of Deccan Chronicle.As many as 33,195 shares were traded in the counter on BSE.Recently, Deccan Chronicle Holdings' board approved splitting each share of Rs 10 into five of Rs 2 each. The move was aimed at improving liquidity in the scrip.
The stock slipped sharply in the past few days. From Rs 898.35 on 8 February, it declined to Rs 839.80 by 12 February 2007.
Deccan Chronicles Holdings registered a net profit growth of 52.20% to Rs 48.44 crore for Q3 December 2006, compared to Rs 31.83 crore in Q3 December 2005. Net sales during the period rose 44% to Rs 146.39 crore from Rs 101.64 crore in the year ago period.
Deccan Chronicle Holdings publishes Deccan Chronicle - Andhra Pradesh's highest-circulated English language daily. The publishing house recently took control of Asian Age Holdings, which publishes The Asian Age in five cities. Deccan Chronicle Holdings wants to strengthen The Asian Age brand by increasing the print run.
IVRCL Infra inches ahead with fresh set of contracts
IVRCL Infrastructures rose 0.63% to Rs 384, after securing orders aggregating Rs 516.09 crore.The counter clocked a volume of 7.41 lakh shares on the BSE.
The scrip, after a surge from July 2006 to November 2006, started slipping at the onset of December 2006. From Rs 449.70 on 1 December 2006, the scrip of IVRCL Infrastructures slipped to Rs 378.25 by 28 December 2006, only to rise to Rs 435.05 by 2 February 2007. Thereafter, the scrip dropped to 381.60 by 12 February 2006. Earlier, from July 2006, the scrip surged from Rs 175.80 on 24 July 2006 to Rs 449.70 by 1 December 2006.
At the current market price of Rs 384, IVRCL Infrastructure trades at 52.60 times its FY 2006 EPS of Rs 7.30.
IVRCL Infrastructures & Projects has bagged new contract worth an aggregate Rs 516.09 crore. The contracts comprise a Rs 411.01 crore work pertaining to water supply and lift irrigation projects, Rs 65 crore contract for rural electrification and a Rs 40.08 crore construction job from the Institute of Chartered Financial Analysts of India, Hyderabad.
IVRCL Infrastrcuture has denied any relationship by way of joint venture with Pyramid Group, shooting down such a report by a financial daily.
IVRCL Infrastructures and Projects had in December 2006 raised around Rs 555 crore by placing fresh equity of 15 million shares through qualified institutional placement (QIP) mode. The shares amounting to around 10% of the company's equity were offered at Rs 370 to private investors like HSBC, Invesco, DSP Merrill Lynch and Tudor Investment Corp and more.
IVR PUD, the real estate arm of IVRCL Infrastructures, is scouting for private equity investors for its pre-IPO placement. The company is likely to file the red herring prospectus in 2007.
In August 2006, IVR Prime acquired 43 acres in Noida, Uttar Pradesh. It plans to develop 2.8 million square feet of housing on this land, and expects revenue to start in the January-March 2007 quarter.
IVR Prime Developer is also setting up a mall & IT park at Hyderabad along with an integrated township of 1.5 million square feet.
IVRCL Infrastructure has a strong profile in water management systems. The company designed and built numerous waste water and sewage treatment plants. Water management systems account for 55% of the company’s business. Contracts to build roads for the National Highway Authority of India contribute about 25% to the company's revenues, while the rest is accounted for by civil contracts.
IVRCL Infrastructure posted a net profit growth of 49% to Rs 32.13 crore (Rs 21.51 crore) in the Q3 December 2006. Net sales for the quarter rose 42% to Rs 522.31 crore from Rs 367.63 crore in the year ago quarter.
At 13:36 IST the Sensex was up 147 points, at 14,337. The Sensex rose as many as 172.04 points, to a high of 14,363.74, surpassing its earlier intra-day high of 14,327.17 struck at 12:13 IST. In early trade, the 30-shares BSE Sensex had tumbled as many as 177.24 points, to a low of 14,013.46.
The market-breadth was strong. Against 1,665 shares rising on BSE, 861 declined. Just 48 shares were unchanged. Gainers outpaced losers by a ratio of nearly 2:1. The BSE clocked a turnover of Rs 2917 crore.
Bharti Airtel surged 5% to Rs 766, on reports that it had signed an infrastructure sharing agreement with Vodafone, which will allow both operators to share nearly 70,000 mobile towers across the country. Vodafone on Sunday emerged as a top bidder for the fourth largest cellular firm, Hutch-Essar. Meanwhile, on the first day (12 February 2007), an IPO of Idea Cellular was subscribed 0.43 times.
Global Broadcast News springs after Reliance Capital picks up stake
Global Broadcast News surged 4.36% to Rs 515, after Reliance Capital acquired 6.27% stake in it on Monday.The stock clocked 16 lakh shares on the BSE.
Global Broadcast News debuted at Rs 417.10 on 8 February. It surged 22.29%, to close at Rs 510.10 compared with the opening price. The next day, the scrip slipped to Rs 490.95, only to edge up to Rs 493.50 by 12 February 2007.
Global Broadcast News (GBN) had priced its IPO at the upper end of the Rs 230 - Rs 250 price band. The face value per share is Rs 10. The issue was subscribed heavily although FIIs were prohibited. FIIs can, however, buy the shares in the secondary market. The post-issue equity of the company is Rs 26.72 crore.
GBN, part of the TV18 group, owns and operates the leading 24-hour English language news and current affairs channel, CNN-IBN, since the launch in December 2005.
Recently, GBN entered into a share-subscription-cum-shareholder agreement with the Gupta family, BK Fincap and Jagran TV, acquiring 49% stake in BK Fincap, which, in turn, holds 82.1% of Jagran TV, the owner of IBN 7, a 24-hour Hindi language news and current affairs channel, for Rs 68 crore.
GBN also holds 15% equity of Web 18 Holdings, which operates the portal business of the TV18 group. GBN has an agreement with CNN for an exclusive, limited, non-transferable right to use and reproduce the CNN name and principal logo.
Currently, more than 90% of the revenue of GBN is derived from advertisements.GBN reported a net loss of Rs 26 crore on revenue of Rs 24 crore in the six months ended September 2006.
Deccan Chronicle Holdings gains on plan for Bangalore edition
Deccan Chronicle Holdings rose 1.81% to Rs 855, on scheduling a board meeting for 21 February to consider a proposal for the Bangalore edition of Deccan Chronicle.As many as 33,195 shares were traded in the counter on BSE.Recently, Deccan Chronicle Holdings' board approved splitting each share of Rs 10 into five of Rs 2 each. The move was aimed at improving liquidity in the scrip.
The stock slipped sharply in the past few days. From Rs 898.35 on 8 February, it declined to Rs 839.80 by 12 February 2007.
Deccan Chronicles Holdings registered a net profit growth of 52.20% to Rs 48.44 crore for Q3 December 2006, compared to Rs 31.83 crore in Q3 December 2005. Net sales during the period rose 44% to Rs 146.39 crore from Rs 101.64 crore in the year ago period.
Deccan Chronicle Holdings publishes Deccan Chronicle - Andhra Pradesh's highest-circulated English language daily. The publishing house recently took control of Asian Age Holdings, which publishes The Asian Age in five cities. Deccan Chronicle Holdings wants to strengthen The Asian Age brand by increasing the print run.
IVRCL Infra inches ahead with fresh set of contracts
IVRCL Infrastructures rose 0.63% to Rs 384, after securing orders aggregating Rs 516.09 crore.The counter clocked a volume of 7.41 lakh shares on the BSE.
The scrip, after a surge from July 2006 to November 2006, started slipping at the onset of December 2006. From Rs 449.70 on 1 December 2006, the scrip of IVRCL Infrastructures slipped to Rs 378.25 by 28 December 2006, only to rise to Rs 435.05 by 2 February 2007. Thereafter, the scrip dropped to 381.60 by 12 February 2006. Earlier, from July 2006, the scrip surged from Rs 175.80 on 24 July 2006 to Rs 449.70 by 1 December 2006.
At the current market price of Rs 384, IVRCL Infrastructure trades at 52.60 times its FY 2006 EPS of Rs 7.30.
IVRCL Infrastructures & Projects has bagged new contract worth an aggregate Rs 516.09 crore. The contracts comprise a Rs 411.01 crore work pertaining to water supply and lift irrigation projects, Rs 65 crore contract for rural electrification and a Rs 40.08 crore construction job from the Institute of Chartered Financial Analysts of India, Hyderabad.
IVRCL Infrastrcuture has denied any relationship by way of joint venture with Pyramid Group, shooting down such a report by a financial daily.
IVRCL Infrastructures and Projects had in December 2006 raised around Rs 555 crore by placing fresh equity of 15 million shares through qualified institutional placement (QIP) mode. The shares amounting to around 10% of the company's equity were offered at Rs 370 to private investors like HSBC, Invesco, DSP Merrill Lynch and Tudor Investment Corp and more.
IVR PUD, the real estate arm of IVRCL Infrastructures, is scouting for private equity investors for its pre-IPO placement. The company is likely to file the red herring prospectus in 2007.
In August 2006, IVR Prime acquired 43 acres in Noida, Uttar Pradesh. It plans to develop 2.8 million square feet of housing on this land, and expects revenue to start in the January-March 2007 quarter.
IVR Prime Developer is also setting up a mall & IT park at Hyderabad along with an integrated township of 1.5 million square feet.
IVRCL Infrastructure has a strong profile in water management systems. The company designed and built numerous waste water and sewage treatment plants. Water management systems account for 55% of the company’s business. Contracts to build roads for the National Highway Authority of India contribute about 25% to the company's revenues, while the rest is accounted for by civil contracts.
IVRCL Infrastructure posted a net profit growth of 49% to Rs 32.13 crore (Rs 21.51 crore) in the Q3 December 2006. Net sales for the quarter rose 42% to Rs 522.31 crore from Rs 367.63 crore in the year ago quarter.
Labels: Deccan Chronicle Holdings, Global Broadcast News, IVRCL Infrastructure
posted by SY at 3:04 PM
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