Sensex tumbles in opening session
With less than an hour left for the Finance Minister's presentation of the Union Budget 2007-08, investors chose to sit on the sidelines, overtly cautious.
The BSE Sensex tumbled in the opening session led by a sharp fall across global markets. At 10:02 IST the 30-shares BSE Sensex was down 457.72 points, at 13,011.25. It had opened with a yawning downward gap, at 13,045.12, and tumbled to a low of 12,800.91, as selling intensified. Its high for the day was at 13,072.67.All 30 constitutents of the Sensex pack were under pressure.
No respite for Moser Baer India desite supply deal
Moser Baer India slipped 3.57% to Rs 354.90, in an overall weak market, despite the company's tie-up with Germany's Deutsche Solar for supplying silicon wafers.As many as 54,912 shares were traded in the counter on the BSE.
The Moser Baer stock has been moving up since hitting the level of Rs 230.45 on 12 December 2006. Here, the stock started surging to Rs 390.50 by 6 February 2007, only to slip to Rs 319.85 by 12 February 2007. Again, the Moser Baer scrip began rising, to settle at Rs 368.05 by 27 February 2007.
At the current market price of Rs 354.90, Moser Baer trades at 105.31 times its Q3 December 2006 annualized EPS of Rs 3.37.
The December 2006 quarter results of Moser Baer India were exceptionally good. The net profit for the December 2006 quarter grew 188.3% to Rs 37.62 crore over the corresponding previous year numbers. The sales for the December 2006 quarter stand at Rs 501.52 crore, a modest 19% growth over the year ago period.
Moser Baer India’s wholly-owned subsidiary, Moser Baer Photo Voltaic, has tied up with Deutsche Solar, a leading global silicon wafer manufacturer in Germany, for supplying silicon wafers. Deutsche Solar is part of the German Solar World AG Group.
Recently, Moser Baer forayed into the Karnataka home video market by launching content distribution in Bengaluru. Earlier, in December 2006, Moser Baer announced a foray into the Tamil home video market, and on 31 January 2007 entered the Malayalam market with 101 Malayalam titles. The company is in final negotiations to acquire copyrights / exclusive license of more than 7000 titles in all major Indian languages.
Moser Baer India had entered into a definitive agreement with Philips, to acquire OM&T, a technology company for optical R&D, a 100% subsidiary of Philips. The acquired company, OM& T, has done pioneering work in Blu-ray and is the only company outside Japan, shipping Blu-ray discs. The acquisition will help Moser Baer find a place among the few manufacturers of Blu-ray discs.
Moser Baer claims to hold the second position in the global optical media market. The global oversupply situation in the optical media business has eased by now, and hence Moser Baer will explore an option of having a research and development, as well as manufacturing set-up outside India, for proximity to the US and European markets.
In January 2007, Moser Baer India inked an agreement with Baba Arts to manufacture, market and distribute VCDs and DVDs of over 450 Telugu movie titles. Moser Baer will market the VCDs and DVDs of these titles in India. It will pay Baba Arts a minimum guarantee (MG) of Rs 2.5 crore for eight years in return for the rights. Post recovery of the minimum guarantee, both companies will share the profit in a 50:50 ratio for 8 years. Currently, Baba Arts is the sole copyright holder of 450 Telugu titles.
Moser Baer also launched a new initiative in content distribution in Cochin, marking the extension of the company's maiden foray into the entertainment industry. Its step is aimed at tapping the home video market in Kerala.
The newly launched division of Moser Baer is also in final negotiations to acquire copyrights / exclusive license of more than 7,000 titles in all major Indian languages, which comprise a third of all movies produced till date in India.
Over four scips ceding ground for every gainer on BSE
Even as Sensex regained the 13,000 level after an initial fall to 12,800.91, the feeble market-breadth was evidence of the panic that had crept in.Against 1,571 shares declining on BSE, 347 rose. Just 37 shares were unchanged. Losers outpaced gainers by a ratio of 4.5:1.
This was in contrast to Tuesday (27 February 2007), when select buying ahead of the Budget kept the breadth positive, while the key indices declined following the Congress’ electoral defeat in Punjab and Uttarakhand. Tuesday's fall was also due to Asian markets, which also finished weak.
Some of the major losers among the small-cap and mid-cap space were ICSA (down 9% to Rs 968), Shree Cement (down 8.9% to Rs 1125), Mahindra Gesco Developers (down 7.9% to Rs 592), Goetze India (down 6% to Rs 309), Rallis India (down 5.8% to Rs 264), and Polaris Software (down 6% to Rs 185.90).
At 10:34 IST the Sensex was down 351 points, at 13,127.Along with large-caps, small-cap and mid-cap shares too have come down after a strong rally during mid-December 2006 to early-February 2007.
Abbott India climbs on regulatory okay to buyback plan
Drug maker Abbott India surged 3.09% to Rs 558.50, in an overall weak market, after the company decided to proceed with its plan to buy back shares after getting regulatory approval.The current market price of Rs 558.50, discounts the buy back price of Rs 650 per share by Rs 91.50 per share.A very thin volume of 7,624 shares were traded on the BSE.
The Abbott India stock had declined steadily since mid-October 2006. From Rs 588.50 on 19 October 2006, it dropped gradually to Rs 521 by 25 January 2007, only to surge to Rs 567.10 by 31 January 2007. Here, Abbott India dropped again, to close at Rs 541.75 by 27 February 2007.
At the current market price of Rs 558.50, Abbott India trades at 55.18 times its Q3 December 2006 annualized EPS of Rs 10.12.
Drug maker Abbott India said on Tuesday it will proceed with buying back shares at Rs 650 each, a plan that was put on hold earlier as the company awaited regulatory approvals. The offer opens on March 7 and closes on 22 March 2007. The company plans to buyback around 8 lakh shares (5.5%) of its equity, hiking its stake from 61.70% to 65.10%.
Abbott India derives most of its revenues from insulin and related products. Apart from diabetes care, Abbott also focusses on niche therapeutic segments in CNS products and pain-management. The company’s pharma products like Brufen, and Digene are leaders in their respective segments in India.
Abbott India has a paid-up equity share capital of Rs 15.28 crore, of which parent, Abbott Laboratories, US, holds 61.70%. The public holding in the Indian company is 23%.
The company has posted a net profit growth of 1.20% to Rs 15.47 crore (Rs 15.29 crore) in Q4 November 2006. Net sales for the quarter rose 10.70% to Rs 130 crore from Rs 117.48 crore in the year ago quarter.
The BSE Sensex tumbled in the opening session led by a sharp fall across global markets. At 10:02 IST the 30-shares BSE Sensex was down 457.72 points, at 13,011.25. It had opened with a yawning downward gap, at 13,045.12, and tumbled to a low of 12,800.91, as selling intensified. Its high for the day was at 13,072.67.All 30 constitutents of the Sensex pack were under pressure.
No respite for Moser Baer India desite supply deal
Moser Baer India slipped 3.57% to Rs 354.90, in an overall weak market, despite the company's tie-up with Germany's Deutsche Solar for supplying silicon wafers.As many as 54,912 shares were traded in the counter on the BSE.
The Moser Baer stock has been moving up since hitting the level of Rs 230.45 on 12 December 2006. Here, the stock started surging to Rs 390.50 by 6 February 2007, only to slip to Rs 319.85 by 12 February 2007. Again, the Moser Baer scrip began rising, to settle at Rs 368.05 by 27 February 2007.
At the current market price of Rs 354.90, Moser Baer trades at 105.31 times its Q3 December 2006 annualized EPS of Rs 3.37.
The December 2006 quarter results of Moser Baer India were exceptionally good. The net profit for the December 2006 quarter grew 188.3% to Rs 37.62 crore over the corresponding previous year numbers. The sales for the December 2006 quarter stand at Rs 501.52 crore, a modest 19% growth over the year ago period.
Moser Baer India’s wholly-owned subsidiary, Moser Baer Photo Voltaic, has tied up with Deutsche Solar, a leading global silicon wafer manufacturer in Germany, for supplying silicon wafers. Deutsche Solar is part of the German Solar World AG Group.
Recently, Moser Baer forayed into the Karnataka home video market by launching content distribution in Bengaluru. Earlier, in December 2006, Moser Baer announced a foray into the Tamil home video market, and on 31 January 2007 entered the Malayalam market with 101 Malayalam titles. The company is in final negotiations to acquire copyrights / exclusive license of more than 7000 titles in all major Indian languages.
Moser Baer India had entered into a definitive agreement with Philips, to acquire OM&T, a technology company for optical R&D, a 100% subsidiary of Philips. The acquired company, OM& T, has done pioneering work in Blu-ray and is the only company outside Japan, shipping Blu-ray discs. The acquisition will help Moser Baer find a place among the few manufacturers of Blu-ray discs.
Moser Baer claims to hold the second position in the global optical media market. The global oversupply situation in the optical media business has eased by now, and hence Moser Baer will explore an option of having a research and development, as well as manufacturing set-up outside India, for proximity to the US and European markets.
In January 2007, Moser Baer India inked an agreement with Baba Arts to manufacture, market and distribute VCDs and DVDs of over 450 Telugu movie titles. Moser Baer will market the VCDs and DVDs of these titles in India. It will pay Baba Arts a minimum guarantee (MG) of Rs 2.5 crore for eight years in return for the rights. Post recovery of the minimum guarantee, both companies will share the profit in a 50:50 ratio for 8 years. Currently, Baba Arts is the sole copyright holder of 450 Telugu titles.
Moser Baer also launched a new initiative in content distribution in Cochin, marking the extension of the company's maiden foray into the entertainment industry. Its step is aimed at tapping the home video market in Kerala.
The newly launched division of Moser Baer is also in final negotiations to acquire copyrights / exclusive license of more than 7,000 titles in all major Indian languages, which comprise a third of all movies produced till date in India.
Over four scips ceding ground for every gainer on BSE
Even as Sensex regained the 13,000 level after an initial fall to 12,800.91, the feeble market-breadth was evidence of the panic that had crept in.Against 1,571 shares declining on BSE, 347 rose. Just 37 shares were unchanged. Losers outpaced gainers by a ratio of 4.5:1.
This was in contrast to Tuesday (27 February 2007), when select buying ahead of the Budget kept the breadth positive, while the key indices declined following the Congress’ electoral defeat in Punjab and Uttarakhand. Tuesday's fall was also due to Asian markets, which also finished weak.
Some of the major losers among the small-cap and mid-cap space were ICSA (down 9% to Rs 968), Shree Cement (down 8.9% to Rs 1125), Mahindra Gesco Developers (down 7.9% to Rs 592), Goetze India (down 6% to Rs 309), Rallis India (down 5.8% to Rs 264), and Polaris Software (down 6% to Rs 185.90).
At 10:34 IST the Sensex was down 351 points, at 13,127.Along with large-caps, small-cap and mid-cap shares too have come down after a strong rally during mid-December 2006 to early-February 2007.
Abbott India climbs on regulatory okay to buyback plan
Drug maker Abbott India surged 3.09% to Rs 558.50, in an overall weak market, after the company decided to proceed with its plan to buy back shares after getting regulatory approval.The current market price of Rs 558.50, discounts the buy back price of Rs 650 per share by Rs 91.50 per share.A very thin volume of 7,624 shares were traded on the BSE.
The Abbott India stock had declined steadily since mid-October 2006. From Rs 588.50 on 19 October 2006, it dropped gradually to Rs 521 by 25 January 2007, only to surge to Rs 567.10 by 31 January 2007. Here, Abbott India dropped again, to close at Rs 541.75 by 27 February 2007.
At the current market price of Rs 558.50, Abbott India trades at 55.18 times its Q3 December 2006 annualized EPS of Rs 10.12.
Drug maker Abbott India said on Tuesday it will proceed with buying back shares at Rs 650 each, a plan that was put on hold earlier as the company awaited regulatory approvals. The offer opens on March 7 and closes on 22 March 2007. The company plans to buyback around 8 lakh shares (5.5%) of its equity, hiking its stake from 61.70% to 65.10%.
Abbott India derives most of its revenues from insulin and related products. Apart from diabetes care, Abbott also focusses on niche therapeutic segments in CNS products and pain-management. The company’s pharma products like Brufen, and Digene are leaders in their respective segments in India.
Abbott India has a paid-up equity share capital of Rs 15.28 crore, of which parent, Abbott Laboratories, US, holds 61.70%. The public holding in the Indian company is 23%.
The company has posted a net profit growth of 1.20% to Rs 15.47 crore (Rs 15.29 crore) in Q4 November 2006. Net sales for the quarter rose 10.70% to Rs 130 crore from Rs 117.48 crore in the year ago quarter.
Labels: Abbott India, moser baer
posted by SY at 12:13 PM
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