Trade turns range-bound
The market, although in positive territory, was trading range bound. Select blue-chips had edged higher along with banks. At 11:20 IST the Sensex was up 37 points, at 14,128.
The benchmark index had moved in a band of 55 points, between 14,109.91 and 14,165, since 10:30 IST. In early-trade, the Sensex had surged as many as 111.13 points, to a high of 14,202.05.
Asian markets held firm after the US Federal Reserve kept interest rates steady at 5.25%. Key benchmark indices in Hong Kong, Japan, South Korea, and Singapore and were up between 0.6 - 1.5%.
The market-breadth was positive. For 1,208 shares rising on BSE, 1,129 declined and 59 did not change. Gainers outpaced losers by a ratio of 1.06:1. In early trade, the advance-decline ratio was strong, at 1.79:1.The BSE clocked a turnover of Rs 1141 crore.
Mphasis inches ahead despite Q3 results
Mphasis rose 1% to Rs 282.20, despite reporting 30.20% fall in net profit for Q3 December 2006.Mphasis posted 30.20% fall in net profit to Rs 13.65 crore for the quarter ended December 2006 compared to Rs 19.56 crore for the quarter ended December 2005. Total income during the same quarter increased 30.20% to Rs 130.65 crore (Rs 100.35 crore).
The group posted a net profit of Rs 35.76 crore for the quarter ended December 2006 compared to Rs 40.84 crore for the quarter ended December 2005. Total income during the Dec-2006 quarter increased to Rs 299.76 crore (Rs 240.54 crore).
As many as 83,374 shares changed hands in the counter on BSE.The stock slipped ahead of its results. From Rs 300.70 on 11 January 2007, the scrip declined to Rs 279.45 by 31 January 2007.The stock remained firm on unconfirmed market talk that Mphasis, which recently came under the EDS fold, was to execute a $250 million application development and maintenance (ADM) project for Vodafone over five years.
In November 2006, Vodafone announced that EDS and IBM will handle its ADM requirements to cut the bill 25-30% in 3 - 5 years. EDS, in turn, is offshoring a big chunk of this contract to India, and the work may start during the first quarter of the next financial year.
Earlier last year, EDS acquired about 51.11% in Mphasis through a conditional open-offer.
Mphasis specialises in customer care, primarily for banking, financial services and insurance (BFSI), apart from logistics, retail and telecom. Mphasis is one of the largest BPO service vendors in India. A few of its large clients include Citibank, JP Morgan Chase and FedEx.
Sanghvi Movers nosedives
Sanghvi Movers plunged 10% to Rs 799, after reporting a 30.90% fall in net profit for Q3 December 2006.As many as 8,345 shares were traded in the counter on BSE.The stock had also slumped to a low of Rs 786 today. The trading of Sanghvi Movers' equity shares also started on the National Stock Exchange (NSE) from 24 January 2007.
The scrip surged strongly ahead of the results. From Rs 792.10 on 18 January, the scrip surged 12.24% to Rs 888.95 by 31 January, in anticipation of a strong set of results from the company.
For Q3 December 2006, Sanghvi Movers reported 30.90% fall in net profit to Rs 8.40 crore (Rs 12.15 crore). Total income from operations also declined 12.50% to Rs 39.14 crore (Rs 44.74 crore).
Sanghvi Movers allotted 8.80 lakh equity shares to Goldpeak at Rs 825 per share, aggregating Rs 72.60 crore, at the board meeting on 22 January 2007. The funds will be utilised towards capital expenditure, and for other business purposes. The company had completed expansion of Rs 118.84 crore up to December 2006.
Sanghvi Movers (SML), the flagship of the Sanghvi Group, is one of the largest crane hiring companies in Asia. SML operates a fleet of around 200 medium to large-sized, heavy-duty hydraulic and crawler cranes with a capacity ranging from 20 tonne to 800 tonne.
The benchmark index had moved in a band of 55 points, between 14,109.91 and 14,165, since 10:30 IST. In early-trade, the Sensex had surged as many as 111.13 points, to a high of 14,202.05.
Asian markets held firm after the US Federal Reserve kept interest rates steady at 5.25%. Key benchmark indices in Hong Kong, Japan, South Korea, and Singapore and were up between 0.6 - 1.5%.
The market-breadth was positive. For 1,208 shares rising on BSE, 1,129 declined and 59 did not change. Gainers outpaced losers by a ratio of 1.06:1. In early trade, the advance-decline ratio was strong, at 1.79:1.The BSE clocked a turnover of Rs 1141 crore.
Mphasis inches ahead despite Q3 results
Mphasis rose 1% to Rs 282.20, despite reporting 30.20% fall in net profit for Q3 December 2006.Mphasis posted 30.20% fall in net profit to Rs 13.65 crore for the quarter ended December 2006 compared to Rs 19.56 crore for the quarter ended December 2005. Total income during the same quarter increased 30.20% to Rs 130.65 crore (Rs 100.35 crore).
The group posted a net profit of Rs 35.76 crore for the quarter ended December 2006 compared to Rs 40.84 crore for the quarter ended December 2005. Total income during the Dec-2006 quarter increased to Rs 299.76 crore (Rs 240.54 crore).
As many as 83,374 shares changed hands in the counter on BSE.The stock slipped ahead of its results. From Rs 300.70 on 11 January 2007, the scrip declined to Rs 279.45 by 31 January 2007.The stock remained firm on unconfirmed market talk that Mphasis, which recently came under the EDS fold, was to execute a $250 million application development and maintenance (ADM) project for Vodafone over five years.
In November 2006, Vodafone announced that EDS and IBM will handle its ADM requirements to cut the bill 25-30% in 3 - 5 years. EDS, in turn, is offshoring a big chunk of this contract to India, and the work may start during the first quarter of the next financial year.
Earlier last year, EDS acquired about 51.11% in Mphasis through a conditional open-offer.
Mphasis specialises in customer care, primarily for banking, financial services and insurance (BFSI), apart from logistics, retail and telecom. Mphasis is one of the largest BPO service vendors in India. A few of its large clients include Citibank, JP Morgan Chase and FedEx.
Sanghvi Movers nosedives
Sanghvi Movers plunged 10% to Rs 799, after reporting a 30.90% fall in net profit for Q3 December 2006.As many as 8,345 shares were traded in the counter on BSE.The stock had also slumped to a low of Rs 786 today. The trading of Sanghvi Movers' equity shares also started on the National Stock Exchange (NSE) from 24 January 2007.
The scrip surged strongly ahead of the results. From Rs 792.10 on 18 January, the scrip surged 12.24% to Rs 888.95 by 31 January, in anticipation of a strong set of results from the company.
For Q3 December 2006, Sanghvi Movers reported 30.90% fall in net profit to Rs 8.40 crore (Rs 12.15 crore). Total income from operations also declined 12.50% to Rs 39.14 crore (Rs 44.74 crore).
Sanghvi Movers allotted 8.80 lakh equity shares to Goldpeak at Rs 825 per share, aggregating Rs 72.60 crore, at the board meeting on 22 January 2007. The funds will be utilised towards capital expenditure, and for other business purposes. The company had completed expansion of Rs 118.84 crore up to December 2006.
Sanghvi Movers (SML), the flagship of the Sanghvi Group, is one of the largest crane hiring companies in Asia. SML operates a fleet of around 200 medium to large-sized, heavy-duty hydraulic and crawler cranes with a capacity ranging from 20 tonne to 800 tonne.
posted by SY at 1:38 PM
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