Market down over 130 points
The market edged lower amid volatility as cement and steel scrips pared gains after the Railway Minister Lalu Prasad Yadav kept freight rate unchanged for most commodities. While freight rates were cut on petrol, diesel and iron ore, passenger fares were cut across the board.
At 13:29 IST the Sensex was down 136 points, at 13,496, at its lowest level for the day. It had surged 80 points, to 12,713, by 12:09 IST just as Yadav's speech began.
The market-breadth turned negative from positive. Against 1,334 shares declining on BSE, 1,087 rose. Just 54 shares were unchanged. Losers outpaced gainers by a ratio of 1.22:1.
Indian Railways plan to invest massively in container operations over the next five years. It also plans revamping the rail infrastructure. Yadav also proposed to increase container traffic five fold to 100 million tonnes by 2011/12.
HOV Services gains ahead of board meet to consider takeovers
HOV Services advanced 1.65% to Rs 272.05, as its board meets today to consider proposals for acquisitions.As many as 11,029 shares changed hands in the counter on BSE. The HOV Services stock had also touched an intra-day high of Rs 277.90.The stock has declined consistently from Rs 301 on 8 February 2007 to Rs 267.65 by 23 February 2007.
Earlier this month, HOV Services informed that one of the world’s largest telecom organisations had decided to use its transaction management software, OASIS, to manage and audit accounts receivables assigned to collection agencies and attorneys servicing bad debt throughout the US.
OASIS provides end-to-end transaction management and includes sophisticated modules to strategically distribute accounts to internal departments, or to vendors. OASIS also includes tools to work, manage, audit and dynamically analyze inventory.
In January 2007, HOV Services received a mandate to collect accounts receivable worth $700 million in the healthcare sector. HOV Services, at that time, said the total debt assigned to the company for collections in the accounts receivable management (ARM) vertical was over $ 3.25 billion.
HOV Services provides business process outsourcing (BPO) services in the finance and accounting business sector, with operations spread over India and the US. The company services US-based corporate clients through three main operating business divisions: Accounts Receivable Management (ARM), Enterprise Management Tools and Services (EMTS) and Insurance and Tax Services (ITS). HOV Services' clients are companies in the healthcare, telecommunications, banking and finance and insurance industries.
In late-December 2006, HOV Services acquired 30% stake in TRAC Holdings and SAM Holdings from US-based private-equity firm, HandsOn Ventures, for $3.74 million. Both companies combined are expected to deliver in excess of $17 million profitable revenues for FY 2008, according to HOV.
HOV Services registered 28.91% increase in its consolidated net profit for the quarter ended 31 December 2006, to Rs 4.28 crore (Rs 3.32 crore). Net sales for the quarter ended December 2006 rose 19% to Rs 41.66 crore (Rs 34.98 crore).
The latest equity share capital of the company is Rs 12.55 crore, the face value being Rs 10. Promoters hold 55% stake in HOV Services.
At 13:29 IST the Sensex was down 136 points, at 13,496, at its lowest level for the day. It had surged 80 points, to 12,713, by 12:09 IST just as Yadav's speech began.
The market-breadth turned negative from positive. Against 1,334 shares declining on BSE, 1,087 rose. Just 54 shares were unchanged. Losers outpaced gainers by a ratio of 1.22:1.
Indian Railways plan to invest massively in container operations over the next five years. It also plans revamping the rail infrastructure. Yadav also proposed to increase container traffic five fold to 100 million tonnes by 2011/12.
HOV Services gains ahead of board meet to consider takeovers
HOV Services advanced 1.65% to Rs 272.05, as its board meets today to consider proposals for acquisitions.As many as 11,029 shares changed hands in the counter on BSE. The HOV Services stock had also touched an intra-day high of Rs 277.90.The stock has declined consistently from Rs 301 on 8 February 2007 to Rs 267.65 by 23 February 2007.
Earlier this month, HOV Services informed that one of the world’s largest telecom organisations had decided to use its transaction management software, OASIS, to manage and audit accounts receivables assigned to collection agencies and attorneys servicing bad debt throughout the US.
OASIS provides end-to-end transaction management and includes sophisticated modules to strategically distribute accounts to internal departments, or to vendors. OASIS also includes tools to work, manage, audit and dynamically analyze inventory.
In January 2007, HOV Services received a mandate to collect accounts receivable worth $700 million in the healthcare sector. HOV Services, at that time, said the total debt assigned to the company for collections in the accounts receivable management (ARM) vertical was over $ 3.25 billion.
HOV Services provides business process outsourcing (BPO) services in the finance and accounting business sector, with operations spread over India and the US. The company services US-based corporate clients through three main operating business divisions: Accounts Receivable Management (ARM), Enterprise Management Tools and Services (EMTS) and Insurance and Tax Services (ITS). HOV Services' clients are companies in the healthcare, telecommunications, banking and finance and insurance industries.
In late-December 2006, HOV Services acquired 30% stake in TRAC Holdings and SAM Holdings from US-based private-equity firm, HandsOn Ventures, for $3.74 million. Both companies combined are expected to deliver in excess of $17 million profitable revenues for FY 2008, according to HOV.
HOV Services registered 28.91% increase in its consolidated net profit for the quarter ended 31 December 2006, to Rs 4.28 crore (Rs 3.32 crore). Net sales for the quarter ended December 2006 rose 19% to Rs 41.66 crore (Rs 34.98 crore).
The latest equity share capital of the company is Rs 12.55 crore, the face value being Rs 10. Promoters hold 55% stake in HOV Services.
Labels: HOV Services
posted by SY at 2:29 PM
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