Market weakens after firm start
The market drifted lower after a firm opening. Weighing on the sentiment was a report that Bank of Japan (BoJ) Governor Toshihiko Fukui had proposed an interest rate hike at the central bank's policy board meeting. Japan's public broadcaster NHK and Kyodo News Service reported that the BoJ policy board is likely to approve a rate increase to around 0.5% from 0.25%, without citing sources. The BoJ board has never rejected a proposal from the governor.
At 10:20 IST the Sensex was down 66 points at 14,187. The Sensex rose as many as 54.15 points at the onset of trading, to 14,307.53.The market-breadth, which was positive at the onset of trading, turned negative. For 1,026 shares declining on BSE, 718 rose. Just 58 shares were unchanged. Losers outpaced gainers by a ratio of 1.4:1.The BSE clocked a turnover of Rs 601 crore.
Bosch Chassis bounces as board okays bonus bounty
Bosch Chassis Systems India jumped 12.03% to Rs 985, after its board recommended a 1:1 bonus issue.As many as 11,326 shares were traded on the BSE.
The Bosch Chassis scrip slipped from a recent high of Rs 1047.50 on 3 January 2007 to Rs 869.90 by 14 February 2007, only to appreciate to Rs 879.20 by 20 February 2007.
At the current market price of Rs 985, Bosch Chassis Systems India trades at 171.60 times its Q4 December 2006 annualized EPS of Rs 5.74.
In November 2006, Bosch Chassis, erstwhile Kalyani Brakes, authorized the board to sell the two-wheeler brake systems manufacturing unit at Nanekarwadi, Pune, to Kalyani Brakes Motorbike Products, a 100% subsidiary, for not less than Rs 26.78 crore.
Bosch Chassis had established a 50:50 joint venture company with Brembo SpA of Italy, on 17 October 2006, for application engineering, production and sales of two-wheeler brakes.
The joint venture (JV) company will be headquartered in Pune, India. Kalyani Brakes, the pioneer of hydraulic brakes for mobikes in India, will integrate their existing two-wheeler brake production with the joint venture. Brembo will contribute licences and technology. Products are initially intended for the Indian market, and will also explore export potential in the near future.
Nabco, Robert Bosch Corporation of USA and the Kalyani group jointly promotes Bosch Chassis, earlier known as Kalyani Brakes. The company began manufacturing air and hydraulic brake systems. It later got into manufacturing brake systems for tractors and motorcycles. The company has collaborations with Titan Italia and Brembo SpA.
Bosch Chassis posted a net profit of 5.97 crore in the Q4 December 2006 compared with Rs 11.53 crore in Q4 December 2005. Net sales in Q4 December 2006 rose to Rs 124.65 crore from Rs 112.36 crore in the year ago quarter.
Essar Shipping slumps on disappointing floor price for delisting
Essar Shipping slumped 7.60% to Rs 44.40 after its promoters set a floor price of Rs 31.62 per share to delist from the bourses.The floor price is the average of the highest and lowest closing of the scrip in the last 26 weeks on the BSE.A total of 4.13 lakh shares were traded in the counter on BSE.
The Essar Shipping stock had surged in the past few months. From Rs 23.30 on 20 November 2006, it has reached Rs 48.05 by 20 February 2007, a solid surge of 95.72%. The scrip also advanced to a 52-week high of Rs 51.90 by 8 February 2007.
Essar Shipping owns 27 vessels, including very large crude carries (VLCCs), tankers and bulk carriers. The company services the transportation requirements of global oil majors such as Shell, Exxon Mobil, Chevron Bp Aramco and Texaco.
Essar Shipping plans to acquire more vessels, including Suemax, Panamax, mini bulk carriers, handymax, bulk carriers and barges. The company targets a young fleet with a mix of medium and large-sized tankers with sufficient bulk tonnage too.
Essar Shipping’s net profit rose a marginal 0.80% in Q3 December 2006 to Rs 31.47 crore, against Rs 31.23 crore in the corresponding quarter of the previous fiscal. During the quarter, the company's income increased 52% to Rs 249.87 crore, from Rs 164.43 crore in the year ago quarter.As of December 2006, promoters hold 47% stake, while total foreign holding in the company stands at 35%.
BAG Films blooms on preferential allotment
BAG Films surged 4.94% to Rs 22.30, after its board approved an issue of 1.31 crore shares to High Growth Distributors.As many as 3.22 lakh shares were traded on the BSE, buoyed by the announcement of the preferential allotment, the price for which will be fixed later.
The scrip of BAG Films was bullish from mid-December 2006 to mid-January 2007. From Rs 7.82 on 12 December 2006, it jumped 176.34% to Rs 21.61 by 19 January 2007, only to slip to Rs 17 by 1 February 2007. Later, the scrip rose to Rs 21.35 by 8 February 2007, again to fall to Rs 18.35 by 13 February. The scrip jumped once again to Rs 21.25 by 20 February 2007.
At the current market price of Rs 22.30, BAG Films trades at 106.19 times its Q3 December 2006 annualized EPS of Rs 0.21.
Recently, BAG Films had approved a preferential allotment of 2,02,50,000 equity shares of Rs 2 each at Rs 13 per share, to a New Delhi-based individual. Accordingly, the board also approved a preferential allotment of 1 crore convertible warrants to promoters, the conversion price being Rs 13 per warrant.
In January 2007, BAG Infotainment, a wholly-owned subsidiary of BAG Films, ventured into the FM radio business and has already obtained licenses for 10 FM stations across Himachal Pradesh, Punjab, Haryana, Madhya Pradesh, Maharashtra, Bihar and Jharkhand. On 11 January 2007, IDBI picked up 10% equity shares at par in BAG Infotainment.
BAG Films, which was established in 1993 with multi-lingual, multi-genre and multi-time band products in the portfolio, mainly produces TV software for various channels in India. Bag Films also has a large library of video footage and finished programmes, which it exploits for additional revenues.
BAG Films posted a net profit growth of 32.30% to Rs 1.27 crore (Rs 0.96 crore) in Q3 December 2006. Net sales during the same quarter rose 20.20% to Rs 10.90 crore (Rs 9.07 crore).
At 10:20 IST the Sensex was down 66 points at 14,187. The Sensex rose as many as 54.15 points at the onset of trading, to 14,307.53.The market-breadth, which was positive at the onset of trading, turned negative. For 1,026 shares declining on BSE, 718 rose. Just 58 shares were unchanged. Losers outpaced gainers by a ratio of 1.4:1.The BSE clocked a turnover of Rs 601 crore.
Bosch Chassis bounces as board okays bonus bounty
Bosch Chassis Systems India jumped 12.03% to Rs 985, after its board recommended a 1:1 bonus issue.As many as 11,326 shares were traded on the BSE.
The Bosch Chassis scrip slipped from a recent high of Rs 1047.50 on 3 January 2007 to Rs 869.90 by 14 February 2007, only to appreciate to Rs 879.20 by 20 February 2007.
At the current market price of Rs 985, Bosch Chassis Systems India trades at 171.60 times its Q4 December 2006 annualized EPS of Rs 5.74.
In November 2006, Bosch Chassis, erstwhile Kalyani Brakes, authorized the board to sell the two-wheeler brake systems manufacturing unit at Nanekarwadi, Pune, to Kalyani Brakes Motorbike Products, a 100% subsidiary, for not less than Rs 26.78 crore.
Bosch Chassis had established a 50:50 joint venture company with Brembo SpA of Italy, on 17 October 2006, for application engineering, production and sales of two-wheeler brakes.
The joint venture (JV) company will be headquartered in Pune, India. Kalyani Brakes, the pioneer of hydraulic brakes for mobikes in India, will integrate their existing two-wheeler brake production with the joint venture. Brembo will contribute licences and technology. Products are initially intended for the Indian market, and will also explore export potential in the near future.
Nabco, Robert Bosch Corporation of USA and the Kalyani group jointly promotes Bosch Chassis, earlier known as Kalyani Brakes. The company began manufacturing air and hydraulic brake systems. It later got into manufacturing brake systems for tractors and motorcycles. The company has collaborations with Titan Italia and Brembo SpA.
Bosch Chassis posted a net profit of 5.97 crore in the Q4 December 2006 compared with Rs 11.53 crore in Q4 December 2005. Net sales in Q4 December 2006 rose to Rs 124.65 crore from Rs 112.36 crore in the year ago quarter.
Essar Shipping slumps on disappointing floor price for delisting
Essar Shipping slumped 7.60% to Rs 44.40 after its promoters set a floor price of Rs 31.62 per share to delist from the bourses.The floor price is the average of the highest and lowest closing of the scrip in the last 26 weeks on the BSE.A total of 4.13 lakh shares were traded in the counter on BSE.
The Essar Shipping stock had surged in the past few months. From Rs 23.30 on 20 November 2006, it has reached Rs 48.05 by 20 February 2007, a solid surge of 95.72%. The scrip also advanced to a 52-week high of Rs 51.90 by 8 February 2007.
Essar Shipping owns 27 vessels, including very large crude carries (VLCCs), tankers and bulk carriers. The company services the transportation requirements of global oil majors such as Shell, Exxon Mobil, Chevron Bp Aramco and Texaco.
Essar Shipping plans to acquire more vessels, including Suemax, Panamax, mini bulk carriers, handymax, bulk carriers and barges. The company targets a young fleet with a mix of medium and large-sized tankers with sufficient bulk tonnage too.
Essar Shipping’s net profit rose a marginal 0.80% in Q3 December 2006 to Rs 31.47 crore, against Rs 31.23 crore in the corresponding quarter of the previous fiscal. During the quarter, the company's income increased 52% to Rs 249.87 crore, from Rs 164.43 crore in the year ago quarter.As of December 2006, promoters hold 47% stake, while total foreign holding in the company stands at 35%.
BAG Films blooms on preferential allotment
BAG Films surged 4.94% to Rs 22.30, after its board approved an issue of 1.31 crore shares to High Growth Distributors.As many as 3.22 lakh shares were traded on the BSE, buoyed by the announcement of the preferential allotment, the price for which will be fixed later.
The scrip of BAG Films was bullish from mid-December 2006 to mid-January 2007. From Rs 7.82 on 12 December 2006, it jumped 176.34% to Rs 21.61 by 19 January 2007, only to slip to Rs 17 by 1 February 2007. Later, the scrip rose to Rs 21.35 by 8 February 2007, again to fall to Rs 18.35 by 13 February. The scrip jumped once again to Rs 21.25 by 20 February 2007.
At the current market price of Rs 22.30, BAG Films trades at 106.19 times its Q3 December 2006 annualized EPS of Rs 0.21.
Recently, BAG Films had approved a preferential allotment of 2,02,50,000 equity shares of Rs 2 each at Rs 13 per share, to a New Delhi-based individual. Accordingly, the board also approved a preferential allotment of 1 crore convertible warrants to promoters, the conversion price being Rs 13 per warrant.
In January 2007, BAG Infotainment, a wholly-owned subsidiary of BAG Films, ventured into the FM radio business and has already obtained licenses for 10 FM stations across Himachal Pradesh, Punjab, Haryana, Madhya Pradesh, Maharashtra, Bihar and Jharkhand. On 11 January 2007, IDBI picked up 10% equity shares at par in BAG Infotainment.
BAG Films, which was established in 1993 with multi-lingual, multi-genre and multi-time band products in the portfolio, mainly produces TV software for various channels in India. Bag Films also has a large library of video footage and finished programmes, which it exploits for additional revenues.
BAG Films posted a net profit growth of 32.30% to Rs 1.27 crore (Rs 0.96 crore) in Q3 December 2006. Net sales during the same quarter rose 20.20% to Rs 10.90 crore (Rs 9.07 crore).
Labels: BAG Films, Bosch Chassis, Essar Shipping
posted by SY at 12:46 PM
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