Stocks bounce back into green
The market has climbed back into the green, after slipping into the red a short while back. Volatility is also at its best today.
At 12:20 IST the BSE Sensex was up 21.27 points, at 12,963.39. It had also slipped to a low of 12861.35. Earlier the barometer Sensex had opened firm, at 13,013.74, and also surged to a high of 13,080.37, as bargain-hunting lifted battered index pivotals.The total turnover on BSE amounted to Rs 1817 crore.
Kothari Products jumps on excise cut for tobacco-free products
Kothari Products surged 4.74% to Rs 573, as excise duty on tobacco-free pan masalas has been reduced from 66% to 45% in the Union Budget presented on Wednesday.Only 167 shares were traded in the counter on BSE.
The scrip of Kothari Products has been sliding since mid-January 2006. From Rs 634.20 on 18 January 2006, it dropped steadily to Rs 542.50 by 27 February 207. The Kothari Products scrip appreciated to Rs 547.05 on Wednesday (28 February 2007), after the Budget speech.
At the current market price of Rs 573, Kothari Products trades at 4.15 times its Q3 December 2006 annualized EPS of Rs 137.92.
Kothari Products, the flagship company of the Kothari Group, is a top player in pan-masala and gutkha. The company manufactures and exports ‘Pan Parag’ pan masala, gutkha and parag zarda in India.
Kothari Products also has subsidiaries, namely, Sukhdum Constructions and Developers, and Arti Web-Developers. Its products are exported directly and through merchant exporters to Mexico, Australia, Singapore, Middle East, Japan, Kenya, South Africa, the UK, New Zealand, Canada, Malaysia and Thailand.
Kothari Products posted a 1.40% decline in net profit to Rs 22.86 crore (Rs 23.19 crore) in Q3 December 2006. Net sales for the December quarter declined 11.60% to Rs 42.73 crore from Rs 48.35 crore in the year ago quarter.
Bajaj Auto eases after February sales disappoint
Bajaj Auto dropped 1.7% to Rs 2572, after reporting a 2% decline in vehicle sales for February 2007.As many as 61,346 shares changed hands in the counter on BSE.
The Bajaj Auto (BAL) stock had spurted early in February 2007, on market talk that the company will go ahead with the demerger of its finance and investment portfolio. From Rs 2761.80 on 1 February 2007, the BAL stock had spurted to Rs 3080.30 on 7 February 2007. The rally fizzled out later and the stock tumbled to Rs 2616.95 by 28 February 2007. The company issued a clarification on 12 February 2007 that there was nothing concrete regarding any demerger at that stage.
BAL said on Thursday vehicle sales in February 2007 fell 2% to 202,212 units from 205,776 units in the same month a year earlier. The company said sales of motorcycles fell 2% to 171,780 units in February 2007 from 175,256 units, and sales of all two-wheelers fell 3% to 174,220 units from 179,880 units in the same month a year earlier.
Sales of three-wheelers rose 8% to 27,992 units in February 2007 from 25,896 units in the same month a year earlier. The company said exports rose 46% to 38,228 units in February 2007 from 26,237 units in the same month a year earlier.
BAL has been continuously gaining in share in the motorcycle market for the last five years. This gain became more pronounced in the last 18 months, and the market share today stands at 34.3%.
BAL is expected to launch several new products in the near term.
Bajaj Auto is globally the largest manufacturer of three-wheelers. This division aids BAL in propping up margins. The average realisations for a three-wheeler are about 2.2 times that of a motorcycle.
Bajaj Auto (BAL) is planning to open 55 company-owned ‘Probiking’ showrooms across the country at an investment of around Rs 77 crore by the end of March 2008. The Probiking showrooms exclusively offer high-end bikes such as the 180-cc Avenger and 200-cc Pulsar. Designed for biking enthusiasts, the 2,300-square feet showroom offers prospective probikers a chance to test-ride the bikes on specially designed indoor dynamometers, and help them update themselves with the details of the bikes and technology.
Bajaj Auto had posted 24% rise in net profit to Rs 345.19 crore for the quarter ended December 2006 compared to Rs 278.99 crore for the quarter ended December 2005. Total income for the December quarter increased 28.32% to Rs 2729.18 crore (Rs 2107.32 crore).
At 12:20 IST the BSE Sensex was up 21.27 points, at 12,963.39. It had also slipped to a low of 12861.35. Earlier the barometer Sensex had opened firm, at 13,013.74, and also surged to a high of 13,080.37, as bargain-hunting lifted battered index pivotals.The total turnover on BSE amounted to Rs 1817 crore.
Kothari Products jumps on excise cut for tobacco-free products
Kothari Products surged 4.74% to Rs 573, as excise duty on tobacco-free pan masalas has been reduced from 66% to 45% in the Union Budget presented on Wednesday.Only 167 shares were traded in the counter on BSE.
The scrip of Kothari Products has been sliding since mid-January 2006. From Rs 634.20 on 18 January 2006, it dropped steadily to Rs 542.50 by 27 February 207. The Kothari Products scrip appreciated to Rs 547.05 on Wednesday (28 February 2007), after the Budget speech.
At the current market price of Rs 573, Kothari Products trades at 4.15 times its Q3 December 2006 annualized EPS of Rs 137.92.
Kothari Products, the flagship company of the Kothari Group, is a top player in pan-masala and gutkha. The company manufactures and exports ‘Pan Parag’ pan masala, gutkha and parag zarda in India.
Kothari Products also has subsidiaries, namely, Sukhdum Constructions and Developers, and Arti Web-Developers. Its products are exported directly and through merchant exporters to Mexico, Australia, Singapore, Middle East, Japan, Kenya, South Africa, the UK, New Zealand, Canada, Malaysia and Thailand.
Kothari Products posted a 1.40% decline in net profit to Rs 22.86 crore (Rs 23.19 crore) in Q3 December 2006. Net sales for the December quarter declined 11.60% to Rs 42.73 crore from Rs 48.35 crore in the year ago quarter.
Bajaj Auto eases after February sales disappoint
Bajaj Auto dropped 1.7% to Rs 2572, after reporting a 2% decline in vehicle sales for February 2007.As many as 61,346 shares changed hands in the counter on BSE.
The Bajaj Auto (BAL) stock had spurted early in February 2007, on market talk that the company will go ahead with the demerger of its finance and investment portfolio. From Rs 2761.80 on 1 February 2007, the BAL stock had spurted to Rs 3080.30 on 7 February 2007. The rally fizzled out later and the stock tumbled to Rs 2616.95 by 28 February 2007. The company issued a clarification on 12 February 2007 that there was nothing concrete regarding any demerger at that stage.
BAL said on Thursday vehicle sales in February 2007 fell 2% to 202,212 units from 205,776 units in the same month a year earlier. The company said sales of motorcycles fell 2% to 171,780 units in February 2007 from 175,256 units, and sales of all two-wheelers fell 3% to 174,220 units from 179,880 units in the same month a year earlier.
Sales of three-wheelers rose 8% to 27,992 units in February 2007 from 25,896 units in the same month a year earlier. The company said exports rose 46% to 38,228 units in February 2007 from 26,237 units in the same month a year earlier.
BAL has been continuously gaining in share in the motorcycle market for the last five years. This gain became more pronounced in the last 18 months, and the market share today stands at 34.3%.
BAL is expected to launch several new products in the near term.
Bajaj Auto is globally the largest manufacturer of three-wheelers. This division aids BAL in propping up margins. The average realisations for a three-wheeler are about 2.2 times that of a motorcycle.
Bajaj Auto (BAL) is planning to open 55 company-owned ‘Probiking’ showrooms across the country at an investment of around Rs 77 crore by the end of March 2008. The Probiking showrooms exclusively offer high-end bikes such as the 180-cc Avenger and 200-cc Pulsar. Designed for biking enthusiasts, the 2,300-square feet showroom offers prospective probikers a chance to test-ride the bikes on specially designed indoor dynamometers, and help them update themselves with the details of the bikes and technology.
Bajaj Auto had posted 24% rise in net profit to Rs 345.19 crore for the quarter ended December 2006 compared to Rs 278.99 crore for the quarter ended December 2005. Total income for the December quarter increased 28.32% to Rs 2729.18 crore (Rs 2107.32 crore).
Labels: Bajaj Auto, Kothari Products
posted by SY at 1:09 PM
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