No let up in the firm trend
The market continued firm in the afternoon, on demand for index pivotals. At 13:35 IST the BSE Sensex was up 100.47 points, at 14,456.02. It had opened higher, at 14,436.18, tracking the 345-point surge of Friday (16 February 2007). The benchmark index had also surged to a fresh high of 14,479.18, and stooped to a low of 14,385.78.
The total turnover on BSE amounted to Rs 2767 crore.The market-breadth, a measure of the overall market strength, was strong. Shares from the small-cap and mid-cap space also participated in the rally. There were 1,573 shares advancing compared to 990 that declined on BSE. As many as 60 scrips remained unchanged.
Among the 30-Sensex pack, 18 advanced while the rest declined.Private sector banking major ICICI Bank was the top gainer, up 3.54% to Rs 982, on a volume of 2.22 lakh shares. It had surged from a low of Rs 943.30.
Lokesh Machines ecstatic after German firm places order
Lokesh Machines gained 10% to Rs 148.30, after it informed it had received an order worth Rs 20 crore from Germany's Wenig Wemas.As many as 79,051 shares changed hands in the counter on BSE.
The stock has been an underperformer in the surge in small-cap and mid-cap shares since mid-December 2006. From a high of Rs 151.85 on 18 January 2007, Lokesh Machines scrip had declined to Rs 134.85 by 15 February 2007. It has moved between Rs 127 - Rs 152 since 12 December 2006.
Lokesh Machines has designed and manufactured prototypes of CNC Lathe and CNC Vertical Machining Centre as per specifications of German machine tools giant, Wenig Wemas (Wenig), and its associates in Europe.
The order from Wenig is initially for supplying 100 machines, with dispatches to begin in April. The off-take could increase to 300 machines a year in the next three years.
Lokesh Machines manufactures machine tools and automotive components. Innovation and product development is a major strength of the company. Lokesh Machines has a full-fledged design department with more than 50 experienced engineers working in the mechanical, electrical & electronics, hydraulics & pneumatic segments.
Lokesh Machines has been able to build a long-term arrangement with customers like Mahindra & Mahindra and Ashok Leyland, for machining & supplying critical components.
Lokesh Machines reported a net profit of Rs 2.26 crore on sales of Rs 19.57 crore in the December 2006 quarter. The figures for the corresponding period last year are not available. The company had net profit of Rs 2.26 crore in September 2006 quarter on sales of Rs 22.39 crore.
Bajaj Electricals soars on acquisition plan
Bajaj Electricals surged 19% to Rs 511.90, after the company said it is in advanced stage of negotiations to acquire an electrical utilities firm based in western India.
As many as 14,905 shares changed hands in the counter on BSE.The Bajaj Electricals scrip has suffered a sharp fall in the last few days. From a peak of Rs 514.05 on 2 February 2007, it had tumbled to a low of Rs 423 on 14 February 2007. The scrip reached Rs 429.15 on the next day (15 February 2007).
The acquisition will be finalised in the next one-and-a-half months. Bajaj Electricals is eyeing companies with weak financials but strong manufacturing, and product lines. The deal size could be up to Rs 100 crore, Chairman and Managing Director, Bajaj Electricals, Shekhar Bajaj, told newspersons at a meeting in Kolkata on Friday (16 February 2007).
The acquisition will be funded primarily through internal accruals. Bajaj Electricals offers a range of consumer electrical products and industrial luminaires ranging from lamps, tube lights, small household appliances, ceiling fans, table fans and air coolers.
This apart, Bajaj Electricals proposes to infuse Rs 30 crore in the 2007-08 fiscal, to augment its high-mast lighting and galvanising capacity from 30,000 to 50,000 tonne at the Ranjangaon unit, in Maharashtra.
Bajaj Electricals’ Maharashtra plant also manufactures transmission line towers, telecommunication towers, lattice towers, sub-station structures and galvanised octagonal, conical and tubular poles. It also caters to the hot-dip galvanising needs of the infrastructure sector, particularly of Maharashtra and the neighbouring states.
In January 2007, Bajaj Electricals reported robust Q3 December 2006 results. The net profit jumped 115% to Rs 9.95 crore, against 21% growth in revenue to Rs 283.30 crore.FII holding in the stock as at end-December 2006 was 8.17%, same as that at end-September 2006.
The total turnover on BSE amounted to Rs 2767 crore.The market-breadth, a measure of the overall market strength, was strong. Shares from the small-cap and mid-cap space also participated in the rally. There were 1,573 shares advancing compared to 990 that declined on BSE. As many as 60 scrips remained unchanged.
Among the 30-Sensex pack, 18 advanced while the rest declined.Private sector banking major ICICI Bank was the top gainer, up 3.54% to Rs 982, on a volume of 2.22 lakh shares. It had surged from a low of Rs 943.30.
Lokesh Machines ecstatic after German firm places order
Lokesh Machines gained 10% to Rs 148.30, after it informed it had received an order worth Rs 20 crore from Germany's Wenig Wemas.As many as 79,051 shares changed hands in the counter on BSE.
The stock has been an underperformer in the surge in small-cap and mid-cap shares since mid-December 2006. From a high of Rs 151.85 on 18 January 2007, Lokesh Machines scrip had declined to Rs 134.85 by 15 February 2007. It has moved between Rs 127 - Rs 152 since 12 December 2006.
Lokesh Machines has designed and manufactured prototypes of CNC Lathe and CNC Vertical Machining Centre as per specifications of German machine tools giant, Wenig Wemas (Wenig), and its associates in Europe.
The order from Wenig is initially for supplying 100 machines, with dispatches to begin in April. The off-take could increase to 300 machines a year in the next three years.
Lokesh Machines manufactures machine tools and automotive components. Innovation and product development is a major strength of the company. Lokesh Machines has a full-fledged design department with more than 50 experienced engineers working in the mechanical, electrical & electronics, hydraulics & pneumatic segments.
Lokesh Machines has been able to build a long-term arrangement with customers like Mahindra & Mahindra and Ashok Leyland, for machining & supplying critical components.
Lokesh Machines reported a net profit of Rs 2.26 crore on sales of Rs 19.57 crore in the December 2006 quarter. The figures for the corresponding period last year are not available. The company had net profit of Rs 2.26 crore in September 2006 quarter on sales of Rs 22.39 crore.
Bajaj Electricals soars on acquisition plan
Bajaj Electricals surged 19% to Rs 511.90, after the company said it is in advanced stage of negotiations to acquire an electrical utilities firm based in western India.
As many as 14,905 shares changed hands in the counter on BSE.The Bajaj Electricals scrip has suffered a sharp fall in the last few days. From a peak of Rs 514.05 on 2 February 2007, it had tumbled to a low of Rs 423 on 14 February 2007. The scrip reached Rs 429.15 on the next day (15 February 2007).
The acquisition will be finalised in the next one-and-a-half months. Bajaj Electricals is eyeing companies with weak financials but strong manufacturing, and product lines. The deal size could be up to Rs 100 crore, Chairman and Managing Director, Bajaj Electricals, Shekhar Bajaj, told newspersons at a meeting in Kolkata on Friday (16 February 2007).
The acquisition will be funded primarily through internal accruals. Bajaj Electricals offers a range of consumer electrical products and industrial luminaires ranging from lamps, tube lights, small household appliances, ceiling fans, table fans and air coolers.
This apart, Bajaj Electricals proposes to infuse Rs 30 crore in the 2007-08 fiscal, to augment its high-mast lighting and galvanising capacity from 30,000 to 50,000 tonne at the Ranjangaon unit, in Maharashtra.
Bajaj Electricals’ Maharashtra plant also manufactures transmission line towers, telecommunication towers, lattice towers, sub-station structures and galvanised octagonal, conical and tubular poles. It also caters to the hot-dip galvanising needs of the infrastructure sector, particularly of Maharashtra and the neighbouring states.
In January 2007, Bajaj Electricals reported robust Q3 December 2006 results. The net profit jumped 115% to Rs 9.95 crore, against 21% growth in revenue to Rs 283.30 crore.FII holding in the stock as at end-December 2006 was 8.17%, same as that at end-September 2006.
Labels: Bajaj Electricals, Lokesh Machines
posted by SY at 2:34 PM
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