Sensex regains strength
The Sensex has recovered, striking a fresh all-time high of 14,554.91 as buying resumed. The market is suffering from acute volatility, moving in and out of positive ground, on account of a mixed trend in pivotals.
At 12:40 IST the BSE Sensex was up 27.95 points, at 14,543.85. Earlier, the Sensex had opened lower, at 14,479.58, and slipped to 14,468.99 on heavy selling.
The total turnover on BSE amounted to Rs 3711 crore, boosted by three huge block deals of 23.14 lakh shares each in TCS, at an average Rs 1299.26 per share in opening trade. The counter was the top-traded on BSE with a turnover of Rs 911.73 crore. The TCS stock was down 0.20% to Rs 1300 on total volumes of 70.17 lakh shares.
The market-breadth was positive. For 1,534 shares advancing on BSE, 1017 declined. Just 54 scrips remained unchanged.Among the 30-Sensex pack, 17 advanced while the rest declined.
Gammon India suffers as Sebi opposes subunit’s IPO
Gammon India dropped 5% to Rs 391, after the company said on Tuesday that Sebi was against a subsidiary's IPO.As many as 69,970 shares changed hands in the counter on BSE, after Gammon India said the market watchdog had informed investment banks that an IPO of the company's subsidiary could not be permitted for one year.
Gammon said, the Securities and Exchange Board of India (Sebi) made the remark in a letter to bankers, who were to handle the IPO of Gammon Infrastructure Projects (GIPL).
On 21 December 2007, Sebi barred Gammon, its chairman Abhijit Rajan and two other entities, from any transaction in shares of Gammon Infrastructure for three years. Gammon informed, it had challenged the order.
Gammon India scrip had plunged nearly 10% on 22 December 2006 to Rs 369.85 following the Sebi order. It bounced back quickly to reach Rs 428.85 on 2 January 2007. The stock had drifted lower again to Rs 380.05 by 31 January 2007, before bouncing back again to Rs 412.10 by 5 February 2007.
At present, Gammon India holds 82.5% stake in GIPL. US-based hedge-fund, Ochziff, too holds 12.5% in GIPL, which the former bought in July 2005 for Rs 122 crore. All build-operate-transfer (BOT) projects of Gammon India are routed through GIPL. GIPL is aggressively building a portfolio of development projects in roads and other sectors.
Gammon India is one of the oldest construction companies in India. It has capabilities in almost all segments of the business—roads, ports, power, irrigation, and buildings.Gammon India’s net profit rose 50.9% in the December 2006 quarter to Rs 31.60 crore, on 31.4% growth in net sales to Rs 440.07 crore.
BSEL Infra tides up on acquiring land in Middle East
BSEL Infrastructure Realty climbed 2.93% to Rs 96.65, after its subsidiary agreed to buy four plots in Emirates City to build residences.The counter clocked a huge volume of 13.36 lakh shares on the BSE.
The scrip has been bullish in the last few days. From Rs 73.25 on 23 January, the scrip surged 28.2% to Rs 93.85 by 5 February 2007. Earlier, the scrip had dropped from the high of Rs 67.80 on 30 October 2006 to Rs 51.15 by 12 December 2006, only to rise to Rs 76.65 by 16 January 2007. Here, the stock slipped to Rs 73.25 by 23 January 2007.
At the current market price of Rs 96.65, BSEL Infrastructure Realty trades at 4.74 times its Q3 December 2006 annualized EPS of Rs 20.38.
In January 2007, BSEL Infrastructure Realty and Unity Infraprojects’ 50:50 joint venture was awarded and allotted 40,000 sq mt with 1.50 floor-space-index at Rajiv Gandhi IT Habitat at Donna Paula, Goa, for constructing an IT park. The project is estimated to have 6,45,600 sq. ft. of built-up area.
As per reports, BSEL Infrastructure and Unity Infraprojects together plan to spend Rs 200 crore in the next 3-5 years to set up a number of hotels and serviced apartments throughout the country. Both companies are making their foray into hospitality through a 50:50 joint venture.
The confirmed list of projects include a 400-room, three-star hotel in Pune, a fully-furnished serviced apartment with 300 rooms in Gujarat and another three/four-star hotel adjacent to the upcoming convention center in Goa.
Recently, BSEL Infrastructure’s UAE unit roped in investment to the tune of $ 25 million from Gulf-based NRIs. Based on this, the company’s current quarter will have a bottomline of Rs 30 crore upwards, translating into a quarterly EPS of more than Rs 5.BSEL Infrastructure Realty is an infrastructure development company.
BSEL Infrastructure had registered a net profit growth of 591.50%, to Rs 30.22 crore (Rs 4.37 crore) for Q3 December 2006. Net sales durin the quarter rose 327.20%, to Rs 33.71 crore (Rs 7.89 crore).
At 12:40 IST the BSE Sensex was up 27.95 points, at 14,543.85. Earlier, the Sensex had opened lower, at 14,479.58, and slipped to 14,468.99 on heavy selling.
The total turnover on BSE amounted to Rs 3711 crore, boosted by three huge block deals of 23.14 lakh shares each in TCS, at an average Rs 1299.26 per share in opening trade. The counter was the top-traded on BSE with a turnover of Rs 911.73 crore. The TCS stock was down 0.20% to Rs 1300 on total volumes of 70.17 lakh shares.
The market-breadth was positive. For 1,534 shares advancing on BSE, 1017 declined. Just 54 scrips remained unchanged.Among the 30-Sensex pack, 17 advanced while the rest declined.
Gammon India suffers as Sebi opposes subunit’s IPO
Gammon India dropped 5% to Rs 391, after the company said on Tuesday that Sebi was against a subsidiary's IPO.As many as 69,970 shares changed hands in the counter on BSE, after Gammon India said the market watchdog had informed investment banks that an IPO of the company's subsidiary could not be permitted for one year.
Gammon said, the Securities and Exchange Board of India (Sebi) made the remark in a letter to bankers, who were to handle the IPO of Gammon Infrastructure Projects (GIPL).
On 21 December 2007, Sebi barred Gammon, its chairman Abhijit Rajan and two other entities, from any transaction in shares of Gammon Infrastructure for three years. Gammon informed, it had challenged the order.
Gammon India scrip had plunged nearly 10% on 22 December 2006 to Rs 369.85 following the Sebi order. It bounced back quickly to reach Rs 428.85 on 2 January 2007. The stock had drifted lower again to Rs 380.05 by 31 January 2007, before bouncing back again to Rs 412.10 by 5 February 2007.
At present, Gammon India holds 82.5% stake in GIPL. US-based hedge-fund, Ochziff, too holds 12.5% in GIPL, which the former bought in July 2005 for Rs 122 crore. All build-operate-transfer (BOT) projects of Gammon India are routed through GIPL. GIPL is aggressively building a portfolio of development projects in roads and other sectors.
Gammon India is one of the oldest construction companies in India. It has capabilities in almost all segments of the business—roads, ports, power, irrigation, and buildings.Gammon India’s net profit rose 50.9% in the December 2006 quarter to Rs 31.60 crore, on 31.4% growth in net sales to Rs 440.07 crore.
BSEL Infra tides up on acquiring land in Middle East
BSEL Infrastructure Realty climbed 2.93% to Rs 96.65, after its subsidiary agreed to buy four plots in Emirates City to build residences.The counter clocked a huge volume of 13.36 lakh shares on the BSE.
The scrip has been bullish in the last few days. From Rs 73.25 on 23 January, the scrip surged 28.2% to Rs 93.85 by 5 February 2007. Earlier, the scrip had dropped from the high of Rs 67.80 on 30 October 2006 to Rs 51.15 by 12 December 2006, only to rise to Rs 76.65 by 16 January 2007. Here, the stock slipped to Rs 73.25 by 23 January 2007.
At the current market price of Rs 96.65, BSEL Infrastructure Realty trades at 4.74 times its Q3 December 2006 annualized EPS of Rs 20.38.
In January 2007, BSEL Infrastructure Realty and Unity Infraprojects’ 50:50 joint venture was awarded and allotted 40,000 sq mt with 1.50 floor-space-index at Rajiv Gandhi IT Habitat at Donna Paula, Goa, for constructing an IT park. The project is estimated to have 6,45,600 sq. ft. of built-up area.
As per reports, BSEL Infrastructure and Unity Infraprojects together plan to spend Rs 200 crore in the next 3-5 years to set up a number of hotels and serviced apartments throughout the country. Both companies are making their foray into hospitality through a 50:50 joint venture.
The confirmed list of projects include a 400-room, three-star hotel in Pune, a fully-furnished serviced apartment with 300 rooms in Gujarat and another three/four-star hotel adjacent to the upcoming convention center in Goa.
Recently, BSEL Infrastructure’s UAE unit roped in investment to the tune of $ 25 million from Gulf-based NRIs. Based on this, the company’s current quarter will have a bottomline of Rs 30 crore upwards, translating into a quarterly EPS of more than Rs 5.BSEL Infrastructure Realty is an infrastructure development company.
BSEL Infrastructure had registered a net profit growth of 591.50%, to Rs 30.22 crore (Rs 4.37 crore) for Q3 December 2006. Net sales durin the quarter rose 327.20%, to Rs 33.71 crore (Rs 7.89 crore).
Labels: BSEL, Gammon India
posted by SY at 1:11 PM
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