Sensex above 14,300
The BSE Sensex recovered from the day's low (14,157.72), as buying resumed in index pivotals. It is now trading above the 14,300 level. Most of this rally comes on the back of short-covering. The market is likely to stay volatile ahead of the expiry of the February derivative contracts on Thursday (22 February).
At 12:31 IST the Sensex was up 59.05 points, at 14,312.27. It had also surged to a high of 14,312.88, just a little while ago.The market-breadth was positive. For 1,261 shares advancing on BSE, 1,138 declined. Just 68 shares were unchanged.The BSE clocked a turnover of Rs 2018 crore.Among the 30-Sensex pack, 19 advanced while the rest declined.Bharti Airtel was the top gainer, up 2.92% to Rs 815.45, on volumes of 2.45 lakh shares.
Order guidance rings in gains for Kavveri Telecom
Telecom equipment maker Kavveri Telecom Products rose 3.4% to Rs 55.95, after the company said it expects orders worth Rs 40 crore in 2007 from Hutchison Essar.As many as 78,320 shares changed hands in the counter on BSE.
The stock had come off the higher level over the past few days. From a high of Rs 63.50 on 7 February, the stock slipped to Rs 54.10 by Tuesday (20 February 2007).
In January 2007, Kavveri Telecom Products (KTPL) announced acquisition of the Ontario-based Til-Tek Antenna, a technology company supplying high-quality antenna products for base stations of wireless telecom companies. It paid $2.5 million for the strategic acquisition. Til-Tek's products will help in adding a significant number of products in GSM, CDMA and WiMAX markets to Kavveri's existing portfolio.
Kavveri, with a customer base including Motorola, Ericsson, Nokia, Nortel, ZTE, Hutch, Reliance, Spice and BSNL, manufactures radio frequency (RF) products and antennas for many GSM and CDMA operators.
Kavveri Telecom’s net profit jumped 157.7% in the December 2006 quarter to Rs 2.01 crore, on 27% growth in net sales to Rs 11.47 crore.
At the time of announcement of the December 2006 quarter results, Kavveri Telecom had outstanding orders to the tune of Rs 20 crore, which were to be executed in Q4 March 2007.
Godawari Power jumps as power project to earn CERs
Godawari Power & Ispat climbed 8.77% to Rs 113.50, after the company’s 10 MW WHRB captive power project became eligible for carbon credits under the Kyoto Protocol.
The counter clocked a volume of 2.53 lakh shares on the BSE.
The scrip of Godawari Power has been on a roll since mid-June 2006. It has moved between Rs 48 - Rs 101 by early-November 2006. Thereafter, the scrip went slipped till mid-December 2006. Here, from Rs 82.55 on 13 December 2006, the scrip moved up to Rs 109.05 by 2 February 2007, only to slip again to Rs 95 by 12 February 2007. Thereafter, the scrip shot up to close at Rs 104.35 by 20 February 2007.
At the current market price of Rs 113.50, Godawari Power & Ispat (Godawari Power) trades at 21.57 times its Q3 December 2006 annualized EPS of Rs 5.26.
Godawari Power 's 10 MW WHRB captive power project has been registered as a CDM project, and will be entitled to carbon credits under the Kyoto Protocol. As per the project design document, the company will be entitled to 50,620 CERs (Certified Emission Reductions) per annum for the crediting period from 1 January 2006 to 31 December 2015. Carbon credits can be accumulated and sold to other companies for a price.
In August 2006, Godawari Power had entered into an agreement with Carbon Asset Services, Sweden AB, Stockholm, for selling 65,205 units of certified emission reductions. The delivery of CERs was expected to be completed within a month.
In June, Godawari Power had announced that the first phase of capacity expansion of sponge iron, captive power generation, steel billets, and new capacities for manufacturing of ferro alloys and steel wires per annum was commissioned in January 2006.
Further, the second phase of the expansion project for increasing capacity of sponge iron to 4.95 lakh Mts, captive power generation to 53 Mw and steel billets to 4 lakh Mts, is progressing as per schedule and will be completed by March 2007.
Also, Godawari Power had forayed into the waste heat recovery power generation sector with its 7 Mw waste heat recovery project.Godawari Power and Ispat produces sponge iron, steel billets and is also into captive power-generation.
Godawari Power reported 142.90% rise in net profit for Q3 December 2006, to Rs 13.07 crore, compared with a net profit of Rs 5.38 crore during Q3 December 2005. Net sales for Q3 December 2006 rose 112.30%, to Rs 124.51 crore (Rs 58.55 crore).
At 12:31 IST the Sensex was up 59.05 points, at 14,312.27. It had also surged to a high of 14,312.88, just a little while ago.The market-breadth was positive. For 1,261 shares advancing on BSE, 1,138 declined. Just 68 shares were unchanged.The BSE clocked a turnover of Rs 2018 crore.Among the 30-Sensex pack, 19 advanced while the rest declined.Bharti Airtel was the top gainer, up 2.92% to Rs 815.45, on volumes of 2.45 lakh shares.
Order guidance rings in gains for Kavveri Telecom
Telecom equipment maker Kavveri Telecom Products rose 3.4% to Rs 55.95, after the company said it expects orders worth Rs 40 crore in 2007 from Hutchison Essar.As many as 78,320 shares changed hands in the counter on BSE.
The stock had come off the higher level over the past few days. From a high of Rs 63.50 on 7 February, the stock slipped to Rs 54.10 by Tuesday (20 February 2007).
In January 2007, Kavveri Telecom Products (KTPL) announced acquisition of the Ontario-based Til-Tek Antenna, a technology company supplying high-quality antenna products for base stations of wireless telecom companies. It paid $2.5 million for the strategic acquisition. Til-Tek's products will help in adding a significant number of products in GSM, CDMA and WiMAX markets to Kavveri's existing portfolio.
Kavveri, with a customer base including Motorola, Ericsson, Nokia, Nortel, ZTE, Hutch, Reliance, Spice and BSNL, manufactures radio frequency (RF) products and antennas for many GSM and CDMA operators.
Kavveri Telecom’s net profit jumped 157.7% in the December 2006 quarter to Rs 2.01 crore, on 27% growth in net sales to Rs 11.47 crore.
At the time of announcement of the December 2006 quarter results, Kavveri Telecom had outstanding orders to the tune of Rs 20 crore, which were to be executed in Q4 March 2007.
Godawari Power jumps as power project to earn CERs
Godawari Power & Ispat climbed 8.77% to Rs 113.50, after the company’s 10 MW WHRB captive power project became eligible for carbon credits under the Kyoto Protocol.
The counter clocked a volume of 2.53 lakh shares on the BSE.
The scrip of Godawari Power has been on a roll since mid-June 2006. It has moved between Rs 48 - Rs 101 by early-November 2006. Thereafter, the scrip went slipped till mid-December 2006. Here, from Rs 82.55 on 13 December 2006, the scrip moved up to Rs 109.05 by 2 February 2007, only to slip again to Rs 95 by 12 February 2007. Thereafter, the scrip shot up to close at Rs 104.35 by 20 February 2007.
At the current market price of Rs 113.50, Godawari Power & Ispat (Godawari Power) trades at 21.57 times its Q3 December 2006 annualized EPS of Rs 5.26.
Godawari Power 's 10 MW WHRB captive power project has been registered as a CDM project, and will be entitled to carbon credits under the Kyoto Protocol. As per the project design document, the company will be entitled to 50,620 CERs (Certified Emission Reductions) per annum for the crediting period from 1 January 2006 to 31 December 2015. Carbon credits can be accumulated and sold to other companies for a price.
In August 2006, Godawari Power had entered into an agreement with Carbon Asset Services, Sweden AB, Stockholm, for selling 65,205 units of certified emission reductions. The delivery of CERs was expected to be completed within a month.
In June, Godawari Power had announced that the first phase of capacity expansion of sponge iron, captive power generation, steel billets, and new capacities for manufacturing of ferro alloys and steel wires per annum was commissioned in January 2006.
Further, the second phase of the expansion project for increasing capacity of sponge iron to 4.95 lakh Mts, captive power generation to 53 Mw and steel billets to 4 lakh Mts, is progressing as per schedule and will be completed by March 2007.
Also, Godawari Power had forayed into the waste heat recovery power generation sector with its 7 Mw waste heat recovery project.Godawari Power and Ispat produces sponge iron, steel billets and is also into captive power-generation.
Godawari Power reported 142.90% rise in net profit for Q3 December 2006, to Rs 13.07 crore, compared with a net profit of Rs 5.38 crore during Q3 December 2005. Net sales for Q3 December 2006 rose 112.30%, to Rs 124.51 crore (Rs 58.55 crore).
Labels: Godawari Power, Kavveri Telecom
posted by SY at 1:37 PM
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