Stock Panchayat

2009-02-01T17:43:00.002+05:30

THIS SITE IS FOR SALE

CONTACT :- sarpanch@stockpanchayat.com

Rain Commodities-Long Term bet

2008-08-04T08:46:00.000+05:30

As discussed in earlier post we discussed above goa carbon about it products.
Rain commodities is leader in cpc and its demand is increasing.
Future prospects of both the companies are good.
Expect to have good resulst in coming quarters.
Promoters holding increased from 33% to 35% in previous quarter. Looking at the CPC demand and being the leader, it can be a good long/medium term bet
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Mukesh Ambani In hiw Own Words-Article Worth Reading it

2008-08-04T08:40:00.000+05:30

Mukesh Ambani Interview:

If Dhirubhai Ambani was a larger-than-life patriarch and Anil was the public face of Reliance, Mukesh Ambani was an enigma. Those who knew him well credited him with leading Reliance ' s turbo-charged growth over the last two decades.

But very little is publicly known of his beliefs, vision and motivation. In his most expansive interview ever to MoneyLIFE, a personal finance magazine, Reliance Industries chairman Mukesh Ambani tells MoneyLIFE editors Sucheta Dalal and Debashis Basu, what drives him and his business decisions

A lot of details about your life are already known. But we don ' t know things from your end. Your life has changed dramatically in just about three decades; will you take us through that process?

From my point of view, very little has changed (Laughs). In terms of attitude to life, little has changed. There are important lessons I have learnt during my upbringing. It is important to share these, though these are tough to practise as a parent (smiles).

We were like a joint family and I was the first child of the family of that generation. There were advantages in being the first child those days. My father navigated through life from Aden in Yemen to Bhuleshwar (a congested commercial precinct in Mumbai), to Usha Kiran (Mumbai ' s earliest skyscraper) at Altamount Road to Sea Wind (an exclusive tower which is the Ambani residence).

My first memories are of the early ' 60s at Altamount Road which was then an emerging area. We were a close-knit family and the four of us -- Dipti, Nina, Anil and I -- were left to do what we wanted. There were boundaries, of course, but within those, we were not micro-managed. Things have changed so much now. When my kids, Isha and Akash, were in the third standard, we behaved as though it was our exam.

Our own childhood was totally different. I guess when you are left on your own, you find your true potential. I remember my father never came to our school even once. Nevertheless, he was hugely interested in our all-round development for which he did some amazing things.

Give us an example.

Imagine this. In the mid-60s, he put out a newspaper ad for a teacher, but specified that his responsibility would be non-academic; he would have to impart general knowledge. He interviewed several persons and selected Mahendrabhai Vyas who taught at the New Era School . Mahendrabhai used to come every evening and stay with us till 6.30-7 pm.

His brief was our all-round development. We played hockey, football and different kinds of games, watched matches at Cooperage, travelled in buses and trains and explored different parts of Bombay . We went camping and stayed in a village for 10-15 days every year.

These experiences have helped us a lot, but at that time, we were not very aware of all the learning that was going on. The two hours with Mahendrabhai every evening were great fun. A third track running at that time, apart from academics and the fun stuff, was that my father shared with me his passion for business and entrepreneurship from very early on. Even when I was in high school, I used to spend long hours at office on weekends.

So, these were the four components of my upbringing -- the academic stuff where I was left to myself, Mahendrabhai, my father ' s passion for creating Reliance and the last piece was his deep links with the family.

A lot of what I have learned from these influences has stayed with me. From the external perspective, my life may have changed a lot, but when I look back at myself in the 1970s, 1980s and now, I see consistency.

How would you describe this?

For my father, life was uni-dimensional. Reliance was his life. Yet, some of my most vivid memories are about spending time with him. However busy he may have been, whatever the pressure, Sunday was for his wife and kids. I try to do the same with my family.

And it has to be non-academic. It is easy to be with your kids and say let ' s do homework together. But we try to do things, beyond doing lunches and dinners. I learnt that from my father. He was a big nature lover and during our school days, we went to different places every Sunday -- we walked through the forest or had a bath in streams.

I have turned into a big nature fan as well. The change in my life that you talked about is that I can afford it more today. These childhood influences have shaped me into what I am today.

What about your choice of higher education, why did you choose chemical engineering?

In fact, the choice illustrates what I meant about academic decisions being left to us. Nobody asked me to do chemical engineering. I chose to study science and which college I would go to.

By that time -- the early ' 70s -- Vimal was a fairly successful textile brand. So everybody expected me to do textile engineering. I shocked them by saying that I would go to IIT. Interestingly, 4-5 of us friends studying together for Inter-science were all among the top 10. Ajay Parekh, who runs Pidilite, topped Bombay University . I stood fifth or sixth.

Since Inter-science results were announced after the IIT entrance, I joined IIT, Bombay . After the Inter-science results a few weeks later, I left and joined University Department of Chemical Technology (UDCT) along with my friends.

Did your academic choices help you in the process of self-discovery?

From the beginning, it was clear that we would have to find our own path. Along with that came the self-realisation that we would have to propel ourselves to achieve excellence. I am trying to learn how to do that as a parent. There is a trick somewhere; sometimes we do a lot. I feel that I am more ready for ICSE exams than my daughter. I know everything and I can beat any parent of my age in ICSE exam hands down.

How do you get the time to do it?

I am passionate about it, so one makes the time. My daughter says it is wrong. ' I will have to study it myself, ' she says. The trick is to light a fire. It is not about pouring knowledge into the brains of kids but lighting that spark so that they learn by themselves.

With us, my father achieved it without trying as hard as we do. It also depends on circumstances, friends and luck. Probably, we were fortunate to have everything in place.

Many of your childhood friends are still working with you -- you clearly forged lasting bonds.

Anand and I have been friends since the sixth standard; he then went on to study commerce. I met Manoj at UDCT. (Anand Jain now leads the Reliance effort in SEZ and Manoj Modi heads the retailing venture). I have other friends as well from that period. Kiran Manelkar became a doctor; because of him, I have many friends who are doctors.

Why did you choose chemical engineering?

Nobody had anticipated that chemicals was the direction in which Reliance was headed. I did chemical engineering because it was supposed to be the future. Think of the line from the movie The Graduate, which was very popular in our times -- "There ' s a great future in plastics." (Laughs) I guess, it left a mark on my mind.

In a sense, it also reflected two of the tenets on which my father built Reliance: always invest in businesses of the future and invest in talent. We believe in these two principles even today.

When did you start working for Reliance?

Even when I was doing chemical engineering, I was working almost full time for Reliance. I finished college at 2.30 pm and went straight to the office. I remember, we were raided and my father was in the US .

I was literally in charge, handling the problem. I must have been about 16 or 17. After chemical engineering, everybody said, ' what would you do ' ? My friends and I wrote all sorts of competitive exams. It was mainly driven by a desire to prove to ourselves that we are no less than anyone in the world. That attitude has not changed either. We even took the civil services exams just to see whether we can get into the list. Then we said, let us apply to Harvard, Stanford and other colleges. I was lucky to get into the top 2-3 business schools. I joined Stanford.

Our class and faculty were outstanding. Nobel Laureate, Bill Sharpe was a professor of financial economics. He made a great impact on me. I hit it off with him on day one -- just as I did with Professor MM Sharma. These are the kinds of professors who make you think out of the box.

Prof MM Sharma ' s first lecture was on how you make money in the chemical business. Bill Sharpe started by asking ' how do you make a difference to the world. ' It was my good fortune that I had a good set of professors and, of course, a great peer group.

While I was at Stanford, Reliance got a licence to make polyester. At that time (early ' 80s), the World Bank ' s Young Professional ' s Programme (YPP) was extremely prestigious. I was very keen to do it too. I had the choice of completing the Stanford graduate programme over the next six months, do the YPP for a year and then return to India . I planned to do this and return to work on the polyester plant.

But you didn ' t do that. What happened?

When I explained my thoughts to my father, he said, ' you are right in the way you have planned your things. I am starting work on the polyester plant. ' I said, ' Oh you are not going to wait for one and a half years? ' He said, ' No, I won ' t wait. ' So, I decided to come back immediately.

This was in 1981. Rasikbhai Meswani, Nikhil and Hital ' s father, was my first boss. The management style used to be very open. We could walk into each other ' s cabin, join in a meeting or get involved in any discussion. My father encouraged it. But when I joined Reliance formally, he said you need to have a boss and I was put under Rasikbhai ' s charge.

He was running our polyester business, which consisted of importing polyester fibre, texturising it and selling it to textile mills. It was a new business compared to our own textile mill at Naroda (near Ahmedabad) that brought in almost 60%-70% of the profits.

When we started work on setting up a polyester filament yarn project, my chemical engineering and business school background helped me in organising the work, creating reporting structures, motivating people. . . in all this, my father and Rasikbhai were two steps ahead of me.

We worked liked a partnership; I was fortunate to be able to contribute from day one. One of my biggest obsessions today is that senior people must give bright 25-year olds the opportunity to contribute meaningfully.

The time was different. Reliance has been in the middle of so much of tumultuous growth. You did many things for the first time in India . Isn ' t it difficult to replicate your own experiences?

Well, I will share with you my perspective. Even before we went public, my father used to say, we need capital but we don ' t want to be dependent on traditional sources of capital. It was very difficult to convince banks about his ambitious plans.

In the journey of an entrepreneur, the most important thing is self-belief and the ability to convert that belief into reality. He believed that we could raise money from the capital market and return it with profits. His second belief was that India is a great opportunity.

While going public was relatively a new thing, he also wanted to change the status quo and unleash disruptive changes. May be he did not articulate all this then.

The actions were loud enough. For instance, for many years, Reliance was not part of any trade or business association. It also had nothing to do with the old established houses.

Absolutely. That was his belief. He said, ' let ' s build a different company. ' This is my 25th year in Reliance as a full-time employee.

When I look back over the years, what did we change? We changed the mindset and we showed the way. Dhirubhai propelled the Indian capital market forward. We raised money only till the middle of 1985 and then in 1989. Then many others came along and raised money. That was a paradigm change.

The first 200-odd people who built Patalganga with me are still around, running different businesses. It has gone into their psyche that we do things differently here. We have taken money from ordinary Indians and we are their trustees. When this is drilled into thousands of people, you automatically get performance.

The other thing that is not visible externally is methods, processes, systems that moved Reliance away from a system that is totally owner-driven. We were among the last to put up a polyester plant. Before us there were Birlas, Modis, Singhanias, the multinationals -- everybody except the Tatas.

You were first among the new crop of licencees for Partially-Oriented Yarn.

Yes, but whoever already had a licence, had a business advantage. So, what competencies did we build? One was to get a licence in a licence-permit raj. Getting a licence is nothing; you have to build a sustainable business. Raising the money is another competence.

In the ' 80s, when I came in, the ground rules were made clear to me. ' Build this business from scratch, without taking anyone from Reliance. ' That forced you to be very disciplined. I looked around and figured out in three months that this industry runs on heroes.

Experts came in with their notebooks on which they had written down all the process conditions, temperatures, pressures and carried these readings back with them.

Are you talking of the consultants?

Even the managers. It was all a feudal style of management. If we had accepted that style, we would not have grown. It was simply not a scalable model. Of course, the easiest thing would have been to follow it. But we had a disruptive style of management. So we said, ' we don ' t want people carrying their wisdom in notebooks as if it is some kind of secretive operation. '

We tried to create an open environment. In today ' s language, we created SOPs and SOCs (standard operating procedures, standard operating conditions) so that everybody was on the same page. We wanted an organisation where everybody contributes but the business is not dependent on a few individuals.

When our competitors were buying licences for half a million and one million dollars, we agreed to pay DuPont $5 million, because we wanted to work with the best in the world. We had limited capital but our approach was different. We got a few experts from DuPont and put some 25-year-olds with them to learn how to manage operations and sustain chemical processes.

The vision of the top person, in deciding that this was the right path, was totally different from what existed in India . It was a big thing.

Reliance went through turbulent times in the mid-80s when there was this long battle with the government and the media. Then Dhirubhai suffered a stroke. From the outside, it seemed that Reliance would be sorely tested because the perception was that so much was built by "managing the system."

This is where investing in talent works. We had different sets of competencies in Reliance. If it meant getting licences to import something quickly to reduce the cycle time or to get steel from Steel Authority -- there were people with relevant competencies handling those things to ensure that the project is completed in time.

There was another set of competencies for the operational part -- how do you run things efficiently. That strength of Reliance was underestimated.

What went on in your mind during the crisis?

We lost Rasikbhai on 30th August, 1985. That was a huge blow. Then my father suffered a stroke in February-- two major events in five months. From three of us running the business, for some time, I suddenly became alone. But my father recovered reasonably by June-July.

There was no sense of panic. The whole picture was in my head. That was the strength of the open system. If I had kept everything close to my chest, it would have been difficult. We had excellent people across the company. The polyester business was institutionalised and there was a plan in place. We just kept our heads down and executed it.

When the economy opened up in 1992, there was a lot of apprehension about whether Indian companies would survive. What was your gameplan?

We were clear that we had to be internationally competitive and were passionate about building competencies that were the best in the world even when the tariffs were very high. It was an obsession with me to beat the Taiwanese and the Koreans who dominated the polyester business in the ' 70s.

That was possible only when all aspects of the business were better than them. One critical factor is scale. We understood that, unless we had scale, we won ' t be world-beaters. Remember, with enormous effort and all the limitations of the licence-permit-raj (between 1981 and 1991), we had built a polyester capacity of 75,000 tonnes. But we had also built a different mindset by looking outside India .

So, when the deregulation came, we were ready. By the middle of ' 95, we were producing 1 million tonnes. A spring was released. Tariffs also fell sharply from 150% to 30% and later to 10%. We wanted to be internationally competitive even when the tariffs were 300%, but being based in India became a competitive advantage when the tariff level fell to 30%.

By that time, we had developed superb project execution capability. We had more than 300 top quality people to execute the projects. From the ' 80s till today, we have not struggled to start up any plant. The biggest companies in the world do not have this kind of record.

How did Reliance develop this mindset? There was hardly anything, except some public sector companies as a reference in India .

My reference points were US companies. We were hugely influenced by large US chemical companies, especially DuPont. It was a very open company and we could take advantage of their learnings. The US is also a very open society. I could to go the US Association of Chemical Engineers and get the standards, data, etc.

It was not the Internet age, but it was easy. It sometimes cost us money to buy what we needed but the investment was worth it to put the right thought process in place.

Critically, some of the leadership came from public sector managers. For instance, KK Malhotra, who was with us for 15 years from 1985, made a fantastic contribution. He was my guru. He ensured that we imbibe all the best practices.

You see, all the right things are written in books and research papers. The trick is to ensure that there is no gap between what is written in the books and your vision; from what is happening on the shopfloor and what is going on in the marketplace. That is execution. That is what makes the difference.

So, in short, we had a huge US bias and great public sector talent. It was not a large group, just 5-6 outstanding people. I always believe that so-called ordinary people can achieve extraordinary results as long they are given a sensible framework. We have been able to do it in industry after industry.

Till 2000, Reliance always said it wanted to capture the entire value of the oil and petrochemicals chain, but after 2000, you have gone in different directions. What caused the change in thinking?

We had three thoughts. One was the fundamental belief that we will invest in businesses of the future and we will invest in talent. We clearly saw that from oil to fabric was a value chain of opportunity and it will remain so for many future decades.

We executed that well and created enough disruptions in the polyester, plastics, refinery and the upstream business of oil and gas. We had very good cash flows. In late ' 90s, we had two options. One was to make the current business more global, bigger and better. The other option was to use our cash flows to do something else.

We were sitting right in this room and my father said ' now it is your call, what you would like to do. ' I said, ' we must use the competencies and cash flows to make a difference to millions of Indians ' . He said, ' that ' s exactly what I had mind. Let ' s do it. ' The strategy was: while we strengthen our current business, we will use our cash flows to invest in the businesses of the future. That ' s how Infocomm was born.

There is a sense that, in the early 1990s, you missed the bus on the biggest opportunity of the future -- the IT business.

We saw the IT business coming. I lived in Silicon Valley . I knew it was a big opportunity. I mentioned it in a speech in 1995 -- the clear arbitrage opportunity for software development. But for us, it was a question of focus and trade-off.

I was very focussed on building various competencies in Reliance and we were not ready to do two things at the same time. It was a big risk for us to get into IT, especially because it was hugely effort-intensive. In my language, I said we have too much soap on our body and we need to take a bath in the chemicals business.

We had signed a JV with Microsoft, but decided to pass up that opportunity. To my mind, I was right. We still needed to build that focus.

So, in the late ' 90s, you zeroed in on telecom, life sciences and retailing. . .

Actually, my father was very keen on the agri-business. He said, that is the real big business in India . We looked at three or four businesses. We got into life sciences as a defence mechanism in the late ' 90s. In 1996-97, we were big in plastics already when Dow announced that they would make plastics from E Coli.

It looked like our business would be ruined because we would buy naphtha and these guys would make plastics from salt and water. We quickly put four or five guys together to understand what Dow Chemicals was doing. That is when we started the industrial biotech business.

Then, we stumbled on human and plant biotech. We were fortunate to have some good people and decided that Reliance can build this business over 5-10 years without any great revenue pressures. In the mainstream business, there was telecom or what I call infocomm.

We got into telecom in the ' 90s by bidding for cellular licences. But I felt that the real value is in the convergence of information and communication; pure communication will not deliver a sustainable value; that is why we called ourselves infocomm. It was learning a whole new domain. We brought in experts from the outside but we essentially did it with proven Reliance people.

And then you got into retailing. . .

Within organised retailing, we are really talking of agri-based retailing. For a variety of reasons, our economy did not get a chance to develop a sustainable value chain in the foods business.

The US and Europe saw large players in foods by the ' 50s and ' 60s; but in India , food has always been a disorganised, fragmented value chain. We believe that India ' s purchasing power will be food-dominated. The first thing we need is safe to eat food that will, in turn, meet many other needs.

But all kinds of mindless legislation remains in place and other players like Hindustan Lever have tried to get around it without real success.

True. But we are in a different era. It is easier for people to see the value proposition -- 28% of our GDP comes from agriculture, but 60% of the people depend on it. So, if we want to make a difference to this 60%, we will have to bring agriculture to its true potential.

Having looked at it obsessively for the past year, I feel that we can convert all our disadvantages into an opportunity. We have fragmented landholdings; but we can integrate that with technology. With proper inputs, there is no reason why Indian farmers cannot become world-class. What is missing? It is distribution.

We now have an opportunity to straightway catch the next wave of distribution logistics. We don ' t have to go through what the world went through and we can build what even the US will not have by 2010. That is possible today. In terms of sheer money, it may take Rs 25,000 crore (Rs 250 billion).

In the earlier days, it was impossible for corporates to think of this. Today, it is possible for the world to finance it and for you to execute a distribution network. We are not big believers in contract farming. So we have removed the ' r ' out of cont(r)act farming. I believe that everyone should be able to relate to market economy. If you produce something, you should be able to sell it at a market price.

What is the model that will deliver your vision?

We are working at putting the most modern technology in farms at Indian costs. I always say whatever the US implements in dollars we should be able to do it at exchange rate of Rs 10, then we would be globally competitive.

When we start off, this looks impossible. Then we think through it, value-engineer it and come close to it. That is the cost part. Then comes the quality issue. While we are working at improving the offering to the Indian consumer, we are ultimately interested in connecting the Indian farmer to the global market. Global consumers have to accept Indian agricultural products.

We all know India has a huge competitive advantage -- we have the largest arable land, focused sunshine, sensible utilisation of water in 30% of land. The question is what should we do to make the US market -- the most difficult market in the world -- accept our produce. For that, we need traceability. It is a simple technology, which we are giving the farmers. It needs certification and verification processes -- to us it is like a process plant. You can then get the output, sort it and grade it.

At what point to grade is a decision that Reliance will make, at the farm level or at the intermediary ' s level. . . what is least-cost, what works, what everybody is comfortable with.

Coarse products are easy, the problem with fresh produce is perishability -- it becomes worthless in seven days. That is why farmers are not producing fresh. That is the tallest mountain for us to climb. . . to put in place distribution and logistics to handle fresh. If we can send fresh produce through technology and distribution from any farm in India to anywhere in the world at their quality standards, then imagine the arbitrage.

What is the arbitrage? Can you give us an example.

We talked of IT. What is IT? It is the arbitrage between the per hour rate in the US and India . We have gone from zero to $20 billion in exporting software, employing about 1 million people in 10 years. These million people changed the brand of India , consumption pattern and gave us the confidence that we can do everything.

The arbitrage has narrowed but is still there. It will disappear in a few decades by which time our software exports may be $100 billion. From a million people, it will benefit 10 million people. If that is what has happened in software, imagine what will happen in agriculture.

Is there this kind of arbitrage in agriculture?

Let me give you some numbers. Take potatoes, the most common food across the world. From Bill Gates to my driver, everybody eats potatoes. Now, plot the prices. Farmers in Uttar Pradesh and Bihar get about Rs 4-5 a kilo; in the Middle East , the wholesale price is about Rs 25-30 a kilo. In the US , Sam ' s Club, it is Rs 90 a kilo. In Europe , it is Rs 110 a kilo. The arbitrage is 1:20. If we get our produce right, and if the US market is opened up, you will be surprised how quickly we reach $20 billion.

The food market is much bigger than the software services market. And the money goes straight into the hands of millions of farmers. The spinoffs are enormous -- jobs, houses, durables, a whole new consumption boom will start in rural areas.

What about the front end -- the retailing sector?

The most employment-intensive industry in the world is retail and our next generation needs these jobs. India has a strategy for the next generation of doctors, engineers and biotech graduates, etc. But for the country as a whole, what we need to resolve is how to create sensible jobs for undergraduates and or those even less educated.

Organised retail alone can absorb these people in large numbers. We estimate about 1.5 million jobs from this sector over the next three years. In the process, we will reduce the cost to consumers by 20% and increase the efficiency of farmers thrice over. Farm incomes can go up 600% to 900% over the next few years from the current base.

By higher prices or higher output?

Higher output. The country produces 150 million tonnes of fresh produce today. We can go to 300-400 million tonnes fairly quickly over a few crop cycles, as long as we can move those millions through the system and have world-class quality.

This means that when you go to the market -- doesn ' t matter whether it is Reliance or Bharti -- you should have the confidence that you are buying quality and it is safe to eat. After meeting the needs of Indian consumers, how do we take advantage in fresh through exports and value added industry such as processing?

It ' s really a yield-productivity-distribution story that we are involved with right now. Our strategy is fundamentally different from the others.

In what sense?

Most other retailers come in when purchasing power has developed. That ' s what Wal-Mart did in China . India is also at that inflection point, so retail chains would come in and start in the urban areas and move backward.

Ours is a diametrically opposite strategy. We are driven by creating purchasing power first. The farmers will have purchasing power and their staff will have purchasing power. Today, the farmer with two acres of land has five people in his family. It is like running a factory, but one that is only running 20% of the time because 80% of the time he cannot sell his products.

He doesn ' t have the inputs to produce the right quality. What we have to do is win his trust and bring him to his true potential so that he can run his two acres at 90% and increase his income by nine times. Once we do it, it is such a big market that there is a place for at least 5-6 players like us. We can ' t do it all alone. But we can show the way.

It is like in telecom; when we said we will get 10 million phone users, a lot of people laughed. Today, there are 3-4 guys who are getting a million customers a month. We think exactly the same needs to happen in farms. When that happens, we will have created purchasing power.

We will start at the bottom and sell them their first cooking range, first washing machine, first bed -- whatever is needed to improve quality of life. All this will create sustainable employment. That is really retail as we see it. We need to execute it well and prove some of these hypotheses. We might be wrong in some of them so we will have to fine tune, adjust and learn.

We only have a superficial knowledge about the true rural India -- the power structure, how to operate in tehsils, what are their true concerns, etc. But we think we can significantly change purchasing power and how we live. That ' s what motivates us.

How far have your progressed in your plans?

We have pilot projects in Andhra Pradesh, Punjab and West Bengal . In all three places, we are very encouraged. There will be some big learning involved but the potential undoubtedly exists.

You also have massive plans for SEZs. What is the thought process there?

The logic of SEZ is simple. India is long on talent and we need to create as many jobs as possible in manufacturing and services.

India 's land bank is about 750-800 million acres. Out of this, 500 million acres can be potentially farmed, but today only 300-350 million is arable and used for agriculture. We need to bring the remaining 150 million acres into productive use. More than 100 million households rely on this land base. India is creating 800,000 engineers a year and 400,00-500,000 semi-professionals. So we will bring in about 2 million professionals into the workforce annually over the next 20 years. We need to create jobs for them.

Government jobs and self-employment in manufacturing are not enough. It is large companies that create employment. That ' s the reality. So we have the supply of talent that can potentially be of the highest quality and lowest cost for 10 years and we also have large markets here.

What is missing? It is integrated infrastructure and a reasonable assurance of facilities that are good for at least 10 years. My target company would want to come to India but operate near the big metros. This is the example that you learn from Shanghai or Shenzen. That is where our SEZs with integrated infrastructure come in -- they provide an integrated airport, seaport, transportation, power and housing -- all at sensible costs.

When I put out a comparative chart, I should be able to tell big employers: this is how we compare with Singapore , Dubai , Shenzhen or Malaysia and Korea . On every parameter, I should beat others in cost and quality of infrastructure. India might be short of infrastructure but here you have guaranteed infrastructure and talent.

You are near Bombay and Delhi and have access to the Indian market and global markets. So ours is an employment-led SEZ. The strategy is first to get the employer. I think we can create 5 million jobs in each of the two 25,000-acre SEZs. But we need many more just to make sure that most of our educated youth is occupied.

The criticism is that SEzs are really land plays. . .

Most people don ' t understand that the residential commercial piece is also a big cost element in SEZs. For employers to attract and retain talent, India has to be almost as attractive as the US . So I have to provide for the cost of living -- housing, shopping environment and everything else exactly like the US , but at an Indian cost.

We have a big talent pool in the US and they are coming back with huge enthusiasm. For our agri-business, we are now bringing back a lot of talented Indians from the US who have worked in Wholesale Foods, Kraft, etc.

We offer to protect their savings in a job here. If you earn $100,000 a year there, you also spend $80,000 and save $15,000-$20,000. We say, if you work for us in India , we will ensure you save $15,000 dollars a year and are part of something exciting without a loss to you.

But this doesn ' t work without a scheme. If you ask me to build a power plant, I cannot give that power at 3 cents or 4 cents, unless I put up a 2000 MW project. It ' s the same for an airport, seaport and all the other stuff. You need to spread costs over a sensible size to keep unit costs low.

These projects will take time to fructify. When do you expect to start getting returns?

Both agri-business and SEZs will make a sustainable return in the long run and we have a strong enough balance sheet to sustain these. At the end of the day, it will leave us with the satisfaction of having tried to show the way. The easiest thing for me is to go to London and New York , sit in a hotel, talk to investment bankers and buy 10 companies.

Are you going to do that too?

(Laughs) Depends on the value we get and what excites us. But that ' s the easy stuff. What does it take? It ' s deal-making followed by a PR pitch to justify it. That doesn ' t give me the same satisfaction: of saying that we tried our hardest to blaze a new trail or change the status quo. There are 300 to 400 of us who think the same way.

Young people want to go to Punjab and stay there for a month to figure out what works. In telecom, when we said we would go into six lakh villages, a lot of our friends thought it ' s all talk. Even the regulator was sceptical. Today, it is rural areas that are making more money.

I have noticed that talent is automatically motivated by larger goals and some of the brightest people want to do things that are different. After we hire from the IIMs and IITs every year, we run them through a six-month induction programme where we teach them the Reliance way and let them choose where they want to work through a competitive framework.

Each business makes a presentation. In the ' 90s, finance and treasury was the in-thing. Then, it was marketing. In the last two years, most bright young people want to work in rural areas. This is a big mindset change.

In retailing, they are saying, we don ' t want to do merchandising; we want to create those rural markets. In that sense, it is great fun. I always tell my young guys, we are going on an expedition together. When you do that we need to support each other because we can get lost quickly.

In this wide canvass, aren ' t you looking at the education sector?

Education is one of the many services we aim to offer. I personally worked for three months on education and healthcare as part of Prime Minister Vajpayee ' s advisory. It is a tougher mountain to climb.

Education is the first aspiration of Indians, no matter what the prosperity level. In that sense, you have a ready customer.

(Laughs) To learn what you said, we spent crores of rupees. After our restructuring, we wondered what we should be getting into and got the best brains together to visualise where the big opportunities are. We studied what people want to spend their money on at all income levels and in different geographies.

People first want to spend money on food -- that is common across the world. The second, in India , is education. In many parts of the world, it comes way down the list of priorities. So, there is a huge opportunity.

What has been your best investment so far?

Our best investment has been in technology and in developing skills. For instance, we invested Rs300 crore in technology that gave us unparalleled transparency and accountability within the organisation.

It allows us to spend Rs 40,000 crore (Rs 400 billion) a year and sleep in peace. We were among the first to introduce videoconferencing in India . In the 80s, we invested in helicopters to go to Patalganga to save time. People saw it as flashy lifestyle. For us, it was facilitating investments.

The other big investment we are now making is in talent. We are developing a culture of creativity that will, in turn, create critical product-service differentials. You must see our life sciences business to appreciate this. Another way to say this is that we are investing to build the skills and experience of our people so that they can then believe in their conviction, take risks and deliver results. Let me also answer the flipside.

We have not invested well in marketing ourselves. It is partly because of my trait. I believe that if my conviction is right, I will not need to go and explain myself to anyone. I believed that ultimately everyone will figure out what you are. We are changing this approach.
ABOVE ARTICLE IS REFERRED FROM rediff.com/money/2007/jan/19inter.htm
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

GUJARAT SAMACHAR SUNDAY COLUMN RECCOMENDS TO BUY LAKSHMI ELECTRIC CONTROLS

2008-08-04T08:32:00.001+05:30

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Shipbuilding industry- Long-term outlook

2008-08-04T08:27:00.000+05:30

MUMBAI: With the Indian ship-builders stock prices down over 60% year to date (YTD) and under-performing most conceivable benchmarks on global concerns, analysts feel it is time to revisit the sector.

A Citigroup report on Indian ship-building industry in India has maintained that with a slowdown impacting order inflows and cancellations at various yards, valuations are at such compelling levels that it justifies investors taking a fresh look at the sector.

"The Indian yards have recently announced new orders in the offshore services space, a segment benefiting from macro tailwinds which is also their core area of strength and where they have a strong global share.

With huge order inflows last year, they are now comfortably placed for the next few years and are focusing more on execution of their capacity expansions," says a Citi Asia-Pac report.

Experts say that the shipbuilding industry is more a long-term outlook driven industry rather than short-term. In this sense, new building price trends and new building price outlook will be the best guidance. Citi believes that market is focusing on year-on-year (YoY) orders and quarterly margin trends. "These two items may look fancy to chase share price trends, but we may lose most of the fundamental changes of the industry following these two factors. Further, two factors have very limited implication to the share price outlook historically," the report adds.

Citi says one should look at ship owners giving new building orders consistently with a much longer-term industry outlook and at much higher new building prices than before. Of course, most of the recent contracts will be delivered after 2011.

Clearly, they are considering the short-term volatility of the global economy and are taking bigger risks than before. But for them, YoY decline of new orders and quarterly shipping margin trends, where the stock market is focusing, are not in their business guidance tools. Historically, quarterly new building orders in the second quarter of 2008 are higher than any other quarters until the first quarter of 2007.

It says that the global order cancellations, which have largely affected new, upcoming, inexperienced yards in China, are unlikely to impact the more experienced Indian yards. While margin and subsidy risk may be genuine.

The two Indian companies that are operating in the space are ABG Shipyard and Bharati Shipyard. "Both companies maintained robust margins in the first quarter - ABG at 26% and Bharati at 19% which were higher on a quarter-on-quarter (QoQ) basis. Despite cost inflation, margins should stay stable in the near term given reasonable RM inventory on books. We have, nonetheless, pared our longer-term margins, less so for Bharati given its high RM inventory and therefore prefer it over ABG," the report said.

According to a recent KPMG report, shipbuilding industry in India is still very nascent and is trying to make its presence felt in the market dominated by Korea, Japan and China. The shipbuilding sector in these countries has received significant government fiscal and policy support, spanning over decades in some cases, enabling them to develop scale as well as cluster of ancillaries.

It says that the there are disadvantages accruing to the industry due to small scale of operations. "These advantages of scale are not available to Indian shipbuilding industry which imports most of its input materials and is therefore unable to leverage advantages offered by bulk purchases and Just in Time supplies.

As a result, there are significant cost disadvantages on account of import dependence which eat into the low labour cost advantages of Indian shipbuilders," says the KPMG report.

ABOVE ARTICLE IS REFERRED FROM economictimes.indiatimes.com/articleshow/msid-3319902,prtpage
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Buy IFCI -Short Term Call

2008-08-04T08:23:00.000+05:30

Buy IFCI

CMP :49.95

Target :55

Stop loss : 47

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Walchandnagar- Heard from Market

2008-08-04T08:20:00.000+05:30

as per unconfirmed reports there is possibility of placement of shares at higher levels.

price movement shows that there is accumulation or warehsg going on for the same.

pl do not take above unconfirmed news to buy the stock.

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

ELDECO HOUSING CMP 117.25

2008-08-04T08:07:00.000+05:30

stock reported EPS of 47 and is
available at 110, p/e of less than 3
I think its a good stock to be invested in.Eps is good pe is less than 3.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Eureka Forbes offers a course like MBA in Sales.

2008-08-04T07:52:00.000+05:30

E4 Development and coaching, a subsidiary of Eureka Forbes has launched a two year course like MBA which aims to impart skill based education in sales.

The CEO and the managing director of E4 Development and coaching said: "Unlike MBA, there are not many opportunities in sales. There is a need to rebrand sales as a career as companies grapple with issues like attrition, talent retention and declining productivity."

The institute has designed to 4 training programs for graduates and undergraduates. The students will get an opportunity to work two months with Eureka Forbes. The courses of retail, sales and service technicians would provide employment opportunities in rural markets.

It has entered into partnership with colleges like IES management institute and other institutions in Mumbai, Gujarat, Rajasthan and Goa. The faculty of this institute would be developed in association with these institutions.

The trained sales personnel will be eligible for employment with Eureka Forbes. Lawande said: "E4 has partnered Godrej Hi Care and is actively talking with telecom firms like Vodafone and Tata Indicom for possible recruitment tie-ups.referred from auryan00.mbablogs.businessweek.com/archive/2008/06/06/1pldin469hx9k
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Which trading method works for consistant profits?

2008-08-04T07:50:00.000+05:30

During the first four months of trading, I would always wait for confirmation before getting into a trade. If the stock were tanking, I would wait for two green candles when the second candle's price broke above the high of the first green candle. I would tell myself to click the buy button and I did without hesitation. I had no fear. Buying shares when the stock was moving up was easy. My emotions were justified. My stop-loss was now the low of the lowest two green candles. Because I waited for confirmation, my average stop-loss was 30 to 40 cents. On 1000 shares, that amounts to $300 to $400, a large risk in my opinion. With such a large risk, the reward should be a minimum 1.20. Looking at the current chart, it would take a miracle to get over a 1-point move.

It is even more difficult waiting for confirmation to get short a stock. Remember, as traders we can only short stocks during an up tick. Waiting for two red candles, the second breaking the low of the first, has you chasing the stock down so fast that by the time you get short, not only is your stop-loss now 40 to 50 cents, but the stock starts to bounce immediately after you get into the position. If you decide not to chase the stock price, and you wait for the stock to bounce up to the high of the two red candles to get short, you are asking for trouble. A stock that has two red candles, the second breaking the low of the first then going back to the high of the first candle, is a sign of strength, a time to be looking to go long, not short. Waiting for confirmation to place your trades is not always the most profitable method to play the markets.
Short into strength; buy into weakness. How do you expect to win against the big players if you do not play like them? You have to anticipate the direction of a stock. When everybody is selling in a panic, and not a single person is on the buy side, you jump in with a bid and buy other people's fear. It is the hardest trigger to pull, but good trading usually feels wrong. Now, it is not easy picking tops or bottoms, but using this method keeps your stop-loss small, and because you might have guessed the bottom at the correct moment, you will also stay on the boat for a much longer ride, reaping larger profits.
Depending on the particular stock I am trading, I will try to anticipate tops and bottoms within 15 to 20 cents. If I cannot pick the top or bottom within 15 to 20 cents, I take my stop-loss and admit I was wrong. If I get stopped out only to see the stock move in my desired direction, I analyze the reasons why I should have waited for a better entry and learn from my mistakes. I cannot get mad at taking a stop-loss; it is the only rule that keeps me alive to stay in the game another day. If I cannot get into a position within 15 to 20 cents, I only have myself to blame. I really started to see my profits increase dramatically using the 15 to 20-cent top-bottom anticipation play. It is not for the novice trader, but with time, I believe everyone can master this method.
I did not like to risk more than $200 on any trade when I first started trading. Some people will protest that you should have your stop-loss located at support and resistance areas, not dollar amounts. This is somewhat true, but I changed my trading style to accommodate this conflict.
If my entry point is more than 20 cents from a technical area, but within 30 cents, I use 500 shares instead of 1000 shares for my first entry point. Now, if the stock goes against me 20 cents, I am down $100. Then I short another 500 shares. If the stock goes against me another 10 cents, I take my stop-loss of $200. Using this method, I can still stick to my $200 stop-loss rule and keep my position within a larger technical area of 30 cents. However, if the stock goes in the desired direction, I am happy using two entry points because it prevents me from taking a loss. If I had used 1000 shares at the first entry point instead of 500 shares, the trade would have stopped me out and I would be down $200.
This particular style suits me well. It may generate more commissions, but if it helps you avoid large losses and take more profits, the commissions are justified. Remember that commissions are just part of doing business.

ABOVE ARTICLE IS REFERRED FROM technicals.expert@gmail.com
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Govt may make doping of petrol, diesel with 20% biodiesel must

2008-08-04T07:40:00.000+05:30

In a bid to cut the nation's spiralling oil import bill, government is
likely to make it mandatory to dope petrol and diesel with 20 per cent
bio-diesel by 2017.

A Group of Ministers, headed by Agriculture Minister Sharad Pawar,
last month decided to hike the amount of ethanol blended with petrol
from 5 per cent which has been in effect since October last year, to
20 per cent by 2017, official sources said.
While petrol doped with 5 per cent ethanol extracted from sugarcane is
being sold all over the country except in Jammu and Kashmir,
northeastern states and island territories, experiments are on for
blending biodiesel extracted from non -edible oils like Jatropha in
diesel.

Sources said the National Biofuel Policy seeks to replace 10 per cent
of petroleum products requirement in the country with biofuels to save
up to Rs 20,000 crore in import bill.

India in 2007-08 paid $69 billion for importing crude oil. With prices
firming up, this is likely to jump to $120 billion in current
year.

The GoM suggested that biodiesel and bio-ethanol be given declared
good status thereby attracting a uniform 4 per cent central sales tax
instead of varied state sales tax rates.

The quantity of ethanol mixed with petrol is to be raised to 10 per
cent by October this year but industry has voiced concerns about the
availability of ethanol at right price. It also wanted that the
government should fix the minimum support price for the non-edible oil
seeds to enthuse farmers.

The National Policy on Bio-fuels will now be drafted by the Ministry
of New and Renewable Energy and taken to the Cabinet for approval.

ABOVE ARTICLE IS REFERRED FROM centralchronicle.com/20080804/0408162.htm
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

MTNL to begin 3G services in 3 months

2008-08-04T07:38:00.000+05:30

MTNL to begin 3G services in 3 months after getting spectrum
Press Trust Of India / New Delhi August 03, 2008, 14:43 IST

State-run MTNL is ready to roll out its 3G network within three months
once the PSU gets spectrum from the government, company CMD R S P
Sinha said.

"Our core network is ready... We are expecting formal allocation of
spectrum from Department of Telecom. The indoor testing of 3G
equipment from the trial spectrum has already been done in Delhi but
outdoor trial is yet to be done as we have not got the spectrum and
once this is completed, we should be able roll out the services in
three months," Sinha said.

Only two private players, alongside a state-owned firm, would get
licences for New Delhi and Mumbai due to shortage of spectrum there,
as per the policy announced last week.

But government would initially permit up to five operators, including
a state carrier, although that could be raised up to 10 later.

In Mumbai, Sinha said MTNL would be ready to roll out in maximum five
months. In fact MTNL shares surged 4 per cent after government
announced the reservation of spectrum for PSUs on Friday.

He said MTNL had floated the tender on 3G much earlier. The total
investment incurred by it on 3G, Sinha said is about Rs 100
crore.

The government, which announced the broad guidelines of the 3G policy
yesterday, said MTNL and BSNL would be allocated one block each in
Delhi/Mumbai and rest of the country respectively. The spectrum would
be reserved for them and they just would have to match the highest bid
after the auction for private companies is completed. This would give
the PSUs a first-mover advantage of a minimum four months over private
sector rivals.

Sinha said the tariffs of the 3G service would be market-driven.

ABOVE ARTICLE IS REFERRED FROM economictimes.indiatimes.com/.../rssarticleshow/3320737.cms
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Hindustan Dorr Oliver CMP 97.45

2008-08-04T07:29:00.000+05:30

As discussed in above post this is a company in water management.
It has strong product profile.
to know about the company u can visit companys site www.hdo.in

i expect stock to trade above 110 level around the time of agm. or in better sentiment it may even cross 120 mark.

75 to 82 level was good for accumulation.

if again dips to these levels it is good long term buy.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Auto sales falls as banks’ interest rate hike

2008-08-04T07:24:00.000+05:30

TIMES NEWS NETWORK

New Delhi: Rising interest rates have started to affect car sales, with most manufacturers, including Maruti-Suzuki, Hyundai, Tata Motors, Mahindra and Honda, reporting flat sales in July compared to the last year, and some even witnessing a degrowth.
   Maruti said car sales grew a mere 0.1% in July at 52,911 units against 52,839 units in July 2007. The company's bigvolume small car portfolio grew just 0.2% at 34,795 units while the Maruti 800 numbers declined 17% at 4,953 units.
   Hyundai also realised a poor 0.4% growth at 15,066 units (15,003) and decided to focus on exports to beat this sluggish trend. However, Tata Motors continued its poor run as its passenger vehicle sales fell 14% at 14,652 units in July (17,037), pulled down by a sharp fall in sales of Indica. Same was the fate of Mahindra that has been facing tough times with its own portfolio as well as that of its joint venture Mahindra-Renault that sells Logan. Mahindra's sales fell 6.6% at 17,302 units (18,536). Sales of Honda Siel also dropped to 4,339 units against 4,533 units in July 2007.
   Interest rates for retail financing have nearly doubled over the last three years, following RBI's fire-fighting against inflation. Moreover, banks are also reluctant to lend freely amid the tight liquidity scenario. Car-makers are forced to offer discounts and freebies to attract customers to showrooms.
   In two-wheelers, Hero Honda continued its strong run and posted a 40% rise in July sales at 2.81 lakh units against 2.01 lakh units. "We expect the growth to continue, particularly with the forthcoming festive season. However, managing high double digit growth in the post-festive season will be a challenge,'' said Anil Dua, senior V-P at Hero Honda.
   Bajaj Auto's July 2-wheeler sales were up 4% at 1.69 lakh units against 1.62 lakh units in the corresponding month last year. TVS Motor posted a 13% growth at 1.18 lakh units against 1.05 lakh units in July 2007.

ABOVE ARTICLE IS REFERRED FROM TIMES NEWS NETWORK
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Revathi Equipment-A view

2008-08-04T07:16:00.000+05:30

Results are not encouraging.
1st qtr there is sharp fall in margins.

2nd qtr too may not be exciting .

For long term its a good script .

Long term prospects looks good for this company.

In coming quarters we can see good results from the company.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

India's ruling coalition will later seek to get parliamentary approval for major policy

2008-08-04T07:12:00.000+05:30

NEW DELHI, July 31 (Reuters) - India's ruling coalition will initially push financial sector reforms using executive orders and only later seek to get parliamentary approval for major policy changes, the finance minister said.
"We will continue to take executive action to push reforms. When we reassemble in parliament and tempers have cooled down, we can return to legislative reforms," Palaniappan Chidambaram said in the capital on Thursday.
The government is keen to dust off plans to boost foreign investment in private banks and insurance firms, policies which have been stalled for years, officials and analysts have said.
Communist parties, which had provided the Congress party-led administration with a majority, opposed the reforms.
But ever since they withdrew support over a nuclear energy deal with the U.S. and then failed to topple the government in a confidence vote, expectations have been growing of a renewed effort to lure foreign investment.
"I will reach out to every section of political parties and seek support for these bills," Chidambaram said.
The government may raise the foreign investment limit for the insurance sector to 49 percent from the present 26 percent, open up the pension sector further, and increase the voting rights of investors in private banks proportional to their shareholding.
But the opposition Bharatiya Janata Party has said it would try to block parliamentary approval for key economic reforms as the government did not have the "moral authority" to push through major decisions.
The confidence vote was marred by allegations lawmakers were bribed to abstain, and the government had to rely on the support of a small regional party to survive. (Reporting by Rajkumar Ray; Editing by Mark Williams)
Article referred from in.reuters.com/article/businessNews/idINIndia-34764820080731
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

MARKET PREDICTIONS-

2008-08-04T06:44:00.004+05:30

Markets have not stabilised yet.

The markets ended on a positive note for the fourth straight week despite a rate hike by the RBI. The Sensex bounced back smartly by 955 points, from a low of 13,727 to a high of 14,683, before settling at 14,657 - up 382 points for the week ended August 1. It has now gained 1,203 points in the last four weeks.

This time market is in the trading zone or in the range bound zone,
The Sensex is likely to trade in a broad range of 13,350-15,200.
if Nifty Spot cross the weekly target of 4429 & continuously give the
closing for 2 days then it can go up to the level of 4586

There are no immediate triggers to take the markets in any direction in a strong way.

The monetary policy has come and gone, the elections seem to a bit away still.

Inflation has stabilized and crude has slightly cooled down.

According to me, The factors which could change the sentiments are :

1. Crude coming down to 100 dollars a barrel and stablising there.

2. Inflation coming down and good monsoons. The effect of this will take at least 2-3 months down the line.

Events which can affect the sentiment in negative direction:-

1. Markets are going through a lot of pain and we believe that they havebottomed out
and crude oil, inflation has peaked unless there is any
catastrophic event. There are reports that Israel is preparing to
attack
Iran with the US support if it fails to stop its nuclear programme.

If this happens, it will be really a catastrophic event which can
potentially raise crude prices to even $200 per barrel!

Inflation rising.
Poor corporate results ( Oct results are going to be bad. especially banks, autos, real estate)
No movement on economic reforms.
Poor financials bankruptcies in the US. GM seems a screaming candidate now.
Low cash levels by mutual funds
Rupee depreciation,
Last leg of current government,

If the market goes high better would be to sell off.

I would buy only at around 12.5 K - 13 K levels which I am sure we will see once again.

May be I can be wrong , but I would wait patiently till then.

Buying at current levels is not advicable.

The best course would be to watch how things evolve in the next few weeks.

The coming week would see continuation of uptrends which would provide selling opportunities.

The time to buy would come soon and we should have cash to buy then.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Micro Technologies-Long Term

2008-08-03T11:30:00.000+05:30

The company is a global provider of security, safety and life-support solutions with the first of its kind and innovative products for security of home, office, shop, vehicle, laptop, mobile etc. It also has a business agreement with MTNL as well as Airtel to offer Lost Mobile Tracking System to their customers. Few weeks ago, it introduced a GPS based product called 'Buddy Tracking System' to know the real time location of users. Given the current share market condition, the company has again reduced the FCCB conversion price by 18% from Rs.304 to Rs.250. After reviewing resuls we think the share price has the potential to hit a new high of above Rs.375 in year time.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Indian Hume Pipe Company -DEVELOPMENT

2008-08-03T11:10:00.000+05:30

Indian Hume Pipe Company Ltd has informed BSE that to meet the requirements of Orders on hand, the Company is in the process of adding up its pipe production capacities by setting up 3 plants at two locations for manufacturing pipes in the State of Andhra Pradesh one at Chillamuthur, Anantpur District and another in Karnool District involving a total capital outlay of about Rs 20 crores. The site for the new factory in karnool district is being finalised. The Orders on hand (balance works) stands comfortably at Rs 1256 crores as against Rs 592 crores as of date last year. About 83% of balance orders, requirement of steel and cement is covered under escalation clause with the clients thereby risk of higher cost due to increase in the prices of these materials is largely protected

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Intellvisions Software net profit rises 148.84% in the June 2008 quarter

2008-08-03T10:27:00.000+05:30

Intellvisions Software net profit rises 148.84% in the June 2008 quarter
Sales rise 132.80% to Rs 8.66 crore
Net profit of Intellvisions Software rose 148.84% to Rs 1.07 crore in the quarter ended June 2008 as against Rs 0.43 crore during the previous quarter ended June 2007. Sales rose 132.80% to Rs 8.66 crore in the quarter ended June 2008 as against Rs 3.72 crore during the previous quarter ended June 2007
ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

INDIAN WATER SECTOR - BRIGHT FUTURE

2008-08-03T10:16:00.000+05:30

I read one article on net, regarding future of water ,a part of it is given below:-
"A catastrophic water shortage could prove an even bigger threat to mankind this century than soaring food prices and the relentless exhaustion of energy reserves, according to a panel of global experts at the Goldman Sachs "Top Five Risks" conference."
Given are list of companies involved in water management in india.All are good companies and have bright future prospects.Details which I am able to gather are given below:-

Forbes and company as it has 100% equity interest in eureka forbes
Indian hume pipes is in this sector.
In one research report of an overseas based research house on Indian water sector.Ion exchange Eureka forbes,Whirlpool and Hindustan dorr oliver,LNT in listed space along with Kent Ro and philips in unlisted space featured in it.
Heard Ge is in process of making a JV with Eureka forbes in this regard.

Reliance Natural resources fund has invested in

POWERSHARES WATER RESOURCES ETF 125.97cr and has 2.58% of it's
total holding

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Simplex Castings net profit rises 9.60% in the June 2008 quarter

2008-08-03T10:13:00.001+05:30

Simplex Castings net profit rises 9.60% in the June 2008 quarter
Sales rise 1.13% to Rs 33.01 crore
Net profit of Simplex Castings rose 9.60% to Rs 1.37 crore in the quarter ended June 2008 as against Rs 1.25 crore during the previous quarter ended June 2007. Sales rose 1.13% to Rs 33.01 crore in the quarter ended June 2008 as against Rs 32.64 crore during the previous quarter ended June 2007
ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Granules India net profit rises 1.50% in the June 2008 quarter

2008-08-03T10:12:00.000+05:30

Granules India net profit rises 1.50% in the June 2008 quarter
Sales rise 38.18% to Rs 61.71 crore
Net profit of Granules India rose 1.50% to Rs 2.70 crore in the quarter ended June 2008 as against Rs 2.66 crore during the previous quarter ended June 2007. Sales rose 38.18% to Rs 61.71 crore in the quarter ended June 2008 as against Rs 44.66 crore during the previous quarter ended June 2007.
For the full year, net profit declined 10.87% to Rs 9.02 crore in the year ended June 2008 as against Rs 10.12 crore during the previous year ended June 2007. Sales rose 15.32% to Rs 214.15 crore in the year ended June 2008 as against Rs 185.70 crore during the previous year ended June 2007
ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Daily Trends in FII Investments upto July 31, 2008

2008-08-03T10:00:00.000+05:30

Reporting Date

Debt/Equity

Gross Purchases(Rs Crores)

Gross Sales(Rs Crores)

Net Investment (Rs Crores)

Net Investment US($) million at month exchange rate

01-JUL-2008

Equity

2865.00

3092.20

(227.10)

(56.30)

Debt

171.70

0.00

171.70

42.60

02-JUL-2008

Equity

3151.10

2976.90

174.30

43.20

Debt

0.00

197.80

(197.80)

(49.00)

03-JUL-2008

Equity

3468.10

3818.60

(350.40)

(86.90)

Debt

294.90

74.20

220.70

54.70

04-JUL-2008

Equity

3309.80

4012.20

(702.50)

(174.10)

Debt

1235.90

76.70

1159.20

287.40

07-JUL-2008

Equity

3008.90

2476.20

532.60

132.00

Debt

2083.80

441.50

1642.30

407.10

08-JUL-2008

Equity

1782.10

2102.00

(319.90)

(79.30)

Debt

1432.70

427.30

1005.40

249.20

09-JUL-2008

Equity

2333.80

2165.30

168.50

41.80

Debt

0.00

10-JUL-2008

Equity

2555.80

2843.50

(287.70)

(71.30)

Debt

0.00

15.00

(15.00)

(3.70)

11-JUL-2008

Equity

1988.40

2334.40

(345.90)

(85.80)

Debt

28.60

31.10

(2.50)

(0.60)

14-JUL-2008

Equity

2420.10

2730.40

(310.30)

(76.90)

Debt

0.00

15-JUL-2008

Equity

2020.10

2232.30

(212.30)

(52.60)

Debt

0.00

16-JUL-2008

Equity

2370.50

3050.90

(680.40)

(168.70)

Debt

46.60

45.00

1.70

0.40

17-JUL-2008

Equity

2693.00

2903.50

(210.40)

(52.20)

Debt

0.00

168.10

(168.10)

(41.70)

18-JUL-2008

Equity

2939.50

2403.70

535.80

132.80

Debt

0.00

21-JUL-2008

Equity

2988.40

2399.20

589.20

146.10

Debt

0.00

22-JUL-2008

Equity

2031.20

2143.10

(111.90)

(27.70)

Debt

44.00

0.00

44.00

10.90

23-JUL-2008

Equity

2264.40

2654.90

(390.50)

(96.80)

Debt

0.00

24-JUL-2008

Equity

6017.90

4382.30

1635.60

405.50

Debt

253.80

306.00

(52.20)

(13.00)

25-JUL-2008

Equity

3927.10

3370.80

556.30

137.90

Debt

90.50

0.00

90.50

22.40

28-JUL-2008

Equity

2954.60

3501.00

(546.30)

(135.40)

Debt

207.00

324.40

(117.40)

(29.10)

29-JUL-2008

Equity

1696.80

2306.10

(609.30)

(151.10)

Debt

33.50

323.00

(289.50)

(71.80)

30-JUL-2008

Equity

2312.70

2645.00

(332.30)

(82.40)

Debt

159.30

33.40

125.90

31.20

31-JUL-2008

Equity

2464.00

2855.90

(391.90)

(97.10)

Debt

0.00

Total for July

Equity

63563.30

65400.40

(1836.80)

(455.30)

Debt

6082.30

2463.50

3618.90

897.00

Total for 2008

Equity

496347.60

523649.70

(27302.10)

(6768.00)

Debt

17538.50

13212.00

4326.50

1072.50

Grand Total till July 31, 2008

Equity

2640664.10

2384497.90

256166.30

59561.00

Debt

91921.40

71745.50

20176.10

4697.80

No of Registered FII's :1457 as on 31.07.2008.
No of Registered Sub-accounts:4395 as on 31.07.2008

	Gross Purchases(Rs Crores)	Gross Sales(Rs Crores)	Net Investment (Rs Crores)	Net Investment US($) million at month exchange rate
Prior period adjustments - Equity	3518.41	87.66	3430.75	773.91

The above adjustments are due to migration of data of new sub accounts to portal based new system of reporting.

18th Apr 2008 is a non-trading day. The figures corresponding to 18th Apr 2008 are also to be included for the reporting date of 17th Apr 2008.

The above report is compiled on the basis of reports submitted to SEBI by custodians on July 31, 2008 and constitutes trades conducted by FIIs on and upto the previous trading day(s).

Discrepancies in total figures, if any, are due to rounding off

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

DII ACTIVITY

2008-08-03T09:57:00.000+05:30

since jan 08 LIC is buying in big way along with indian mutual funds.

Employee Providend fund had appointed - Reliance capital , HSBC .
icici pru SBI for mangaing their money in indian mkt (earlier sbi cap
were managing) .they have huge money

LIC always remains a buyer. On every lower circuit day, LIC is
amongst those institutions which have supported the market.

* Among DIIs, apart from LIC, Insurance Cos could be prominent buyers
through countless ULIP schemes.

* However DIIs esp. MFs, even though they have always claimed (ask any
MF distributor who has attended NFO presentations) they can "match"
FIIs, the markets always seem to fall whenever FIIs rush to get out.

* As is to be expected, there's hue and cry over appointment of
Reliance Capital to manage EPF at the last minute:

* EPF sure has 2.40-2.50 Lakh Crore under management. And even if 10%
is deployed, it's sizable at 24,000 Crores. But, it has to go through
EPFO board and unions. Unions have already rejected proposal to invest
JUST 5% in equity :
So, how much of that huge corpus will make it to the market is unknown
as of now.ABOVE ARTICLE IS REFERRED FROM .business-standard.com/india/storypage.php?autono=329174.
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Details of institutional activity

2008-08-03T09:53:00.001+05:30

Details of institutional activity
On the institutional front, for the week ended August 1, 2008, mutual funds emerged as net buyers to the tune of Rs 8 bn, while FIIs were net sellers to the tune of Rs 3 bn (as per data available from SEBI's website).

(Rs m)	MFs	FIIs	Total
25-Jul	(329)	(1,354)	(1,683)
28-Jul	2,035	(1,511)	524
29-Jul	(2,494)	(824)	(3,318)
30-Jul	6,903	(971)	5,932
31-Jul	1,889	1480	3,369
Total	8,004	(3,180)	4,824

ABOVE ARTICLE IS REFERRED FROM eqmastr
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Spice Mobile-High Risk High Gain-Risk Buy

2008-08-03T09:44:00.000+05:30

ET had sometime earlier mentioned about a possibility of sony ericsson acquiring Spice mobile.

if you look at the mobile market
spice mobile is selling 200000 handsets per month...samsung is at no 2 - selling 450000 ....sony ericsson - 400000 ....nokia is at no 1 ...at an altogether different league sony was recently displaced and by acquiring spice will make it too no 2 easily
If you look at the share holding pattern BK modi has about 64% holding .... 24% with public more than 1% ...majority of the remaining 13% is also closely held

What does the company have to offer
A Brand to offer ...spice has created a niche in the entry level segment .handsets priced as low as 550 Rs..it recently came out with dual handset and a new manufacturing facility being setup at Baddi ..Himachal

What is the background of the promoter
the promoter BK Modi has a history of incubating businesses and selling them off (eg Spice Commn)
what is the downside the 52 week low is about 18..currently the stock is about 26-27 earning potential ..although the sales seems to be picking up ..close to double in this qtr at 127 cr YoY...due to the heavy advt and sales exp.. profitability is nothing to write home about presently ... (the results came yesterday posted a loss of 47 lakhs)
It is not a cash bargain story ...no dividend play ...nor a huge balancesheet investments story ...
it is a call on this deal
However in terms of liquidity the counter is fairly liquid ...around 50k shares traded on an avg...means one can exit given a call going wrong
whats the upside
if the reports are correct...ET reported the deal to happen at 75-80 a share ..which is a huge margin

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Kesar Enterprises bse code 507180 cmp:-71.15 -Long Term Buy

2008-08-03T09:29:00.000+05:30

Hi freinds,
Recently I came up with the annaul report of kesar enterprises.
here are the interesting details about the company which i think are good for long term investors.
beside doing well in sugar division company also has storage division
where it earned profit of rs 7.3 cr while in this june qtr it has
earned rs 1.7 cr on the same. equity of company is just rs 6.79
crs. this division gives regular income even when there is down
turn in sugar cycle.

Here are the details given in annaul report of the company.

STORAGE DIVISION

A RESERVOIR OF EXCELLENCE
(STORAGE DIVISION - KANDLA (GUJARAT) 1960 ONWARDS)

KEL also prides itself on the modern storage facilities it owns at
Kandla port. The storage Division, which started off in 1960 with a
modest beginning of 2 tanks have now grown to a total of 44 tanks in 2
terminals totalling a storage capacity of 90000 Kilo Litres. There are
special tanks for storage of products requiring heating and
insulation, stainless steel tanks / coated tanks for products that
cannot be stored in conventional mild steel tanks. These facilities
are offered to importers and exporters for storage and handling of
various bulk liquid cargoes such as Chemicals, Petroleum products,
Edible Oil, Non-Edible oils, Alcohols etc. The storage business has
given the right thrust and impetus to the company's growth and has
potential for further development.

The tanks at Kandla, are situated right in front of the jetties
ensuring a quick and smooth loading and off-loading of bulk liquids at
a high pumping rate. Multiple Jetty Lines permit simultaneous
discharge of cargo from more than one vessel at any time. The
possibilities for expansion at Kandla are great and KEL looks forward
to an exciting fast paced development of this business in the coming
years.

Storage

India has a large exportable surplus of petrol and naphtha but has shortage of diesel and kerosene. The private refineries have to use storage tanks for distribution to the domestic market as well as for export to
avoid investments in tank terminals at various locations. There is an increase in domestic manufacture of petrochemicals and chemicals and export thereof, resulting in to an additional demand for tankage from this sector.

The Company has 2 bulk Liquid Chemical Terminals with a combined capacity of 115,000 KL of storage, which increased further to 127,000 KL at Kandla, Gujarat, which include specialised tanks, such as stainless tanks and tanks equipped with heating and insulation facilities.

Whilst the demand for storage tanks is on the rise, the biggest impediment in creating new tankage is restricted availability of land at port locations. All the ports are going for SEZ complexes which need
large tracts of land and infrastructural facilities in terms of rail and road connectivity, warehouses for dry cargo and container terminals. The Coastal regulatory Zone policy is also an impediment in developing
tankage for chemicals at port location, as the existing policy permits new tankage for only a handful of petroleum products in CRZ area. The industry needs to be recognised as a part of infrastructure and should be encouraged.

The existing Companies in this business, expecting the demand to boom in the near future, are trying to increase capacities with available land at their disposals

my view, in case company demerges this division it may create good
value for investors over long run.

risk factor- loan amount is high if company is able to restructer its
debts in upturn of sugar cycle i feel it shall have good time ahead.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

poor rollovers

2008-08-02T10:22:00.000+05:30

Futures & options contracts for July 2008 series which expired yesterday 31 July 2008, saw poor rollovers. As per reports, Nifty rollover of positions from July 2008 series to August 2008 series stood at 65.05% as compared to 70.07% in the previous series. Even in single stock futures, rollovers were relatively muted at 79.19% compared to 82.05% in the previous series.

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

BSE Sensex rose 381.75 points or 2.67% to 14,656.69 in the week ended

2008-08-02T10:08:00.002+05:30

The 30-shares BSE Sensex rose 381.75 points or 2.67% to 14,656.69 in the week ended 1 August 2008.

The CNX S&P Nifty rose 101.7 points or 2.35% to 4413.55.

The BSE Mid-Cap index rose 70.15 points or 1.26% to 5,642.74 .

The BSE Small-Cap index rose 201.32 points or 2.96% to 6,980.10

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Patels Airtemp (India) net profit rises 104.62% in the June 2008 quarter

2008-08-02T10:08:00.001+05:30

Patels Airtemp (India) net profit rises 104.62% in the June 2008 quarter

Sales rise 58.25% to Rs 13.23 crore

Net profit of Patels Airtemp (India) rose 104.62% to Rs 1.33 crore in the quarter ended June 2008 as against Rs 0.65 crore during the previous quarter ended June 2007. Sales rose 58.25% to Rs 13.23 crore in the quarter ended June 2008 as against Rs 8.36 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Revathi Equipment net profit declines 79.37% in the June 2008 quarter

2008-08-02T10:07:00.002+05:30

Revathi Equipment net profit declines 79.37% in the June 2008 quarter

Sales rise 11.54% to Rs 18.75 crore

Net profit of Revathi Equipment declined 79.37% to Rs 0.65 crore in the quarter ended June 2008 as against Rs 3.15 crore during the previous quarter ended June 2007. Sales rose 11.54% to Rs 18.75 crore in the quarter ended June 2008 as against Rs 16.81 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Garware Offshore Services reports net loss of Rs 5.52 crore in the June 2008 quarter

2008-08-02T10:07:00.001+05:30

Garware Offshore Services reports net loss of Rs 5.52 crore in the June 2008 quarter

Sales rise 51.62% to Rs 29.43 crore

Garware Offshore Services reported net loss of Rs 5.52 crore in the quarter ended June 2008 as against net profit of Rs 5.19 crore during the previous quarter ended June 2007. Sales rose 51.62% to Rs 29.43 crore in the quarter ended June 2008 as against Rs 19.41 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Jindal Saw net profit declines 14.44% in the June 2008 quarter

2008-08-02T10:06:00.003+05:30

Jindal Saw net profit declines 14.44% in the June 2008 quarter

Sales decline 20.85% to Rs 1017.54 crore

Net profit of Jindal Saw declined 14.44% to Rs 70.20 crore in the quarter ended June 2008 as against Rs 82.05 crore during the previous quarter ended June 2007. Sales declined 20.85% to Rs 1017.54 crore in the quarter ended June 2008 as against Rs 1285.53 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Raymond reports net loss of Rs 41.60 crore in the June 2008 quarter

2008-08-02T10:06:00.001+05:30

rRaymond reports net loss of Rs 41.60 crore in the June 2008 quarte

Sales rise 12.71% to Rs 235.72 crore

Raymond reported net loss of Rs 41.60 crore in the quarter ended June 2008 as against net profit of Rs 5.37 crore during the previous quarter ended June 2007. Sales rose 12.71% to Rs 235.72 crore in the quarter ended June 2008 as against Rs 209.13 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Subhash Projects & Marketing net profit rises 18.27% in the June 2008 quarter

2008-08-02T10:05:00.005+05:30

Subhash Projects & Marketing net profit rises 18.27% in the June 2008 quarter

Sales rise 28.59% to Rs 306.03 crore

Net profit of Subhash Projects & Marketing rose 18.27% to Rs 16.25 crore in the quarter ended June 2008 as against Rs 13.74 crore during the previous quarter ended June 2007. Sales rose 28.59% to Rs 306.03 crore in the quarter ended June 2008 as against Rs 237.98 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Kalpana Industries net profit rises 95.23% in the June 2008 quarter

2008-08-02T10:05:00.003+05:30

Kalpana Industries net profit rises 95.23% in the June 2008 quarter

Sales rise 47.06% to Rs 152.55 crore

Net profit of Kalpana Industries rose 95.23% to Rs 7.77 crore in the quarter ended June 2008 as against Rs 3.98 crore during the previous quarter ended June 2007. Sales rose 47.06% to Rs 152.55 crore in the quarter ended June 2008 as against Rs 103.73 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

International Combustion (India) net profit rises 8.93% in the June 2008 quarter

2008-08-02T10:05:00.001+05:30

International Combustion (India) net profit rises 8.93% in the June 2008 quarter

Sales rise 13.06% to Rs 22.85 crore

Net profit of International Combustion (India) rose 8.93% to Rs 3.05 crore in the quarter ended June 2008 as against Rs 2.80 crore during the previous quarter ended June 2007. Sales rose 13.06% to Rs 22.85 crore in the quarter ended June 2008 as against Rs 20.21 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

NRB Bearings net profit declines 80.24% in the June 2008 quarter

2008-08-02T10:04:00.003+05:30

NRB Bearings net profit declines 80.24% in the June 2008 quarter

Sales decline 3.00% to Rs 78.14 crore

Net profit of NRB Bearings declined 80.24% to Rs 2.31 crore in the quarter ended June 2008 as against Rs 11.69 crore during the previous quarter ended June 2007. Sales declined 3.00% to Rs 78.14 crore in the quarter ended June 2008 as against Rs 80.56 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Gremach Infrastructure Equipments & Projects net profit rises 198.77% in the June 2008 quarter

2008-08-02T10:04:00.001+05:30

Gremach Infrastructure Equipments & Projects net profit rises 198.77% in the June 2008 quarter

Sales rise 194.65% to Rs 102.36 crore

Net profit of Gremach Infrastructure Equipments & Projects rose 198.77% to Rs 12.13 crore in the quarter ended June 2008 as against Rs 4.06 crore during the previous quarter ended June 2007. Sales rose 194.65% to Rs 102.36 crore in the quarter ended June 2008 as against Rs 34.74 crore during the previous quarter ended June 2

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Saregama India net profit declines 77.10% in the June 2008 quarter

2008-08-02T10:03:00.004+05:30

Saregama India net profit declines 77.10% in the June 2008 quarter

Sales decline 1.50% to Rs 28.30 crore

Net profit of Saregama India declined 77.10% to Rs 0.68 crore in the quarter ended June 2008 as against Rs 2.97 crore during the previous quarter ended June 2007. Sales declined 1.50% to Rs 28.30 crore in the quarter ended June 2008 as against Rs 28.73 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Kesar Enterprises reports net profit of Rs 7.03 crore in the June 2008 quarter

2008-08-02T10:03:00.003+05:30

Kesar Enterprises reports net profit of Rs 7.03 crore in the June 2008 quarter

Sales rise 35.74% to Rs 63.35 crore

Kesar Enterprises reported net profit of Rs 7.03 crore in the quarter ended June 2008 as against net loss of Rs 12.93 crore during the previous quarter ended June 2007. Sales rose 35.74% to Rs 63.35 crore in the quarter ended June 2008 as against Rs 46.67 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Prajay Engineers Syndicate net profit declines 88.90% in the June 2008 quarter

2008-08-02T10:03:00.001+05:30

Prajay Engineers Syndicate net profit declines 88.90% in the June 2008 quarter

Sales decline 68.32% to Rs 22.21 crore

Net profit of Prajay Engineers Syndicate declined 88.90% to Rs 3.00 crore in the quarter ended June 2008 as against Rs 27.02 crore during the previous quarter ended June 2007. Sales declined 68.32% to Rs 22.21 crore in the quarter ended June 2008 as against Rs 70.11 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Kalindee Rail Nirman (Engineers) net profit rises 41.87% in the June 2008 quarter

2008-08-02T10:02:00.003+05:30

Kalindee Rail Nirman (Engineers) net profit rises 41.87% in the June 2008 quarter

Sales rise 23.60% to Rs 59.49 crore

Net profit of Kalindee Rail Nirman (Engineers) rose 41.87% to Rs 4.10 crore in the quarter ended June 2008 as against Rs 2.89 crore during the previous quarter ended June 2007. Sales rose 23.60% to Rs 59.49 crore in the quarter ended June 2008 as against Rs 48.13 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Federal-Mogul Goetze (India) net profit rises 634.88% in the June 2008 quarter

2008-08-02T10:02:00.001+05:30

Federal-Mogul Goetze (India) net profit rises 634.88% in the June 2008 quarter

Sales rise 20.32% to Rs 176.36 crore

Net profit of Federal-Mogul Goetze (India) rose 634.88% to Rs 6.32 crore in the quarter ended June 2008 as against Rs 0.86 crore during the previous quarter ended June 2007. Sales rose 20.32% to Rs 176.36 crore in the quarter ended June 2008 as against Rs 146.58 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Ess Dee Aluminium net profit rises 41.23% in the June 2008 quarter

2008-08-02T10:01:00.000+05:30

Ess Dee Aluminium net profit rises 41.23% in the June 2008 quarter

Sales rise 46.49% to Rs 94.97 crore

Net profit of Ess Dee Aluminium rose 41.23% to Rs 18.53 crore in the quarter ended June 2008 as against Rs 13.12 crore during the previous quarter ended June 2007. Sales rose 46.49% to Rs 94.97 crore in the quarter ended June 2008 as against Rs 64.83 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Time Technoplast net profit rises 9.61% in the June 2008 quarter

2008-08-02T09:57:00.001+05:30

Time Technoplast net profit rises 9.61% in the June 2008 quarter

Sales rise 26.87% to Rs 120.36 crore

Net profit of Time Technoplast rose 9.61% to Rs 11.63 crore in the quarter ended June 2008 as against Rs 10.61 crore during the previous quarter ended June 2007. Sales rose 26.87% to Rs 120.36 crore in the quarter ended June 2008 as against Rs 94.87 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Assam Company net profit declines 11.49% in the June 2008 quarter

2008-08-02T09:56:00.003+05:30

Assam Company net profit declines 11.49% in the June 2008 quarter

Sales rise 55.15% to Rs 33.76 crore

Net profit of Assam Company declined 11.49% to Rs 8.63 crore in the quarter ended June 2008 as against Rs 9.75 crore during the previous quarter ended June 2007. Sales rose 55.15% to Rs 33.76 crore in the quarter ended June 2008 as against Rs 21.76 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Varun Shipping Company net profit declines 83.18% in the June 2008 quarter

2008-08-02T09:56:00.001+05:30

Varun Shipping Company net profit declines 83.18% in the June 2008 quarter

Sales rise 6.20% to Rs 205.50 crore

Net profit of Varun Shipping Company declined 83.18% to Rs 21.33 crore in the quarter ended June 2008 as against Rs 126.82 crore during the previous quarter ended June 2007. Sales rose 6.20% to Rs 205.50 crore in the quarter ended June 2008 as against Rs 193.50 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Surya Roshni net profit rises 20.38% in the June 2008 quarter

2008-08-02T09:55:00.002+05:30

Surya Roshni net profit rises 20.38% in the June 2008 quarter

Sales rise 35.30% to Rs 432.09 crore

Net profit of Surya Roshni rose 20.38% to Rs 3.78 crore in the quarter ended June 2008 as against Rs 3.14 crore during the previous quarter ended June 2007. Sales rose 35.30% to Rs 432.09 crore in the quarter ended June 2008 as against Rs 319.35 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

K C P net profit declines 11.39% in the June 2008 quarter

2008-08-02T09:55:00.001+05:30

K C P net profit declines 11.39% in the June 2008 quarter

Sales rise 6.58% to Rs 79.26 crore

Net profit of K C P declined 11.39% to Rs 14.62 crore in the quarter ended June 2008 as against Rs 16.50 crore during the previous quarter ended June 2007. Sales rose 6.58% to Rs 79.26 crore in the quarter ended June 2008 as against Rs 74.37 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Religare's PAT stands at Rs 3.67 crore for Q1

2008-08-02T09:54:00.001+05:30

Religare's PAT stands at Rs 3.67 crore for Q1
     New Delhi, Aug 1 (PTI) Domestic brokerage firm Religare
Enterprises has reported a consolidated profit after tax of Rs
3.67 crore and a revenue of Rs 288.75 crore for the first
quarter ended June 30.
     The company got listed on the domestic bourses last year
only and therefore the figures of the corresponding period in
the previous fiscal are not available for comparison.
      The company plans to create an integrated business model
not just in India but also globally, the company said in a
statement.
     During the financial year ended March 31, 2008, Religare
Enterprises reported a PAT of Rs 91.97 crore and a total
income of Rs 896.51 crore.
     In May, Religare Capital Markets, the wholly-owned
subsidiary of Religare Enterprises, had acquired a 97.76 per
cent stake in UK-based brokerage firm Hichens Harrison & Co
Plc for about 55.5 million pounds.
     "This acquisition will give Religare a foothold in close
to a dozen countries and well help to create an international
distribution network for Religares domestic institutional
business," Religare Enterprises CEO & Managing Director Sunil
Godhwani said
     During the quarter Religare Capital Markets Ltd has
applied for a fresh broking licence for trading-cum-clearing
member in cash segment of NSE and BSE and F&O segment of NSE,
the statement added.
     Shares of Religare closed at Rs 386.55, up 1.56 per cent,
on the Bombay Stock Exchange. PTI Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Ferro Alloys Corporation net profit rises 236.89% in the June 2008 quarter

2008-08-02T09:52:00.002+05:30

Ferro Alloys Corporation net profit rises 236.89% in the June 2008 quarter

Sales rise 76.30% to Rs 88.61 crore

Net profit of Ferro Alloys Corporation rose 236.89% to Rs 24.93 crore in the quarter ended June 2008 as against Rs 7.40 crore during the previous quarter ended June 2007. Sales rose 76.30% to Rs 88.61 crore in the quarter ended June 2008 as against Rs 50.26 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Easun Reyrolle net profit declines 20.95% in the June 2008 quarter

2008-08-02T09:52:00.001+05:30

Easun Reyrolle net profit declines 20.95% in the June 2008 quarter

Sales decline 4.79% to Rs 36.38 crore

Net profit of Easun Reyrolle declined 20.95% to Rs 3.51 crore in the quarter ended June 2008 as against Rs 4.44 crore during the previous quarter ended June 2007. Sales declined 4.79% to Rs 36.38 crore in the quarter ended June 2008 as against Rs 38.21 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Videocon Industries ANALYSIS

2008-08-02T09:45:00.002+05:30

Videocon Industries

Topline up 19%, Bottomline up 4%

Videocon Industries put up a healthy performance for the quarter ended June 2008 with a 19% increase in topline during quarter ended June 2008 compared to corresponding previous quarter. The operating margin improved 260 bps leading 34% increases in operating profit. Other income declined 88%, interest cost jumped 29% and depreciation increased 7%. PBT increased 21%. The company had an EO expense of Rs 37.22 crore representing amount deducted by Government of India (GoI) in connection with a dispute between the Company and GoI about computation of interest on disputed amount of profit petroleum. The final PAT was higher by only 4% as effective tax rate for the quarter rose 350 bps.

Quarterly Results

For quarter ended June 2008 Videocon Industries registered 19% increase in topline at Rs 2612.9 crore compared to corresponding previous quarter. The operating margin improved 260 bps to 21.9% resulting in 34% upsurge in operating profit at Rs 572.29 crore.

In terms of cost as % to sales (net of stock adjustment) the raw material cost decreased 850 bps to 39.4%. Purchase of traded goods increased 370 bps to 12.3%. Employee cost was almost stagnant while other expenses declined 220 bps to 25.4%.

Other income of the company decreased 88% to Rs 7.53 crore. The interest expense spurted 29% to Rs 101.86 crore with PBDT level improving 17% amounting to Rs 477.96 crore. The depreciation cost increased 7% to Rs 125.67 crore. The PBT increased 21% to Rs 352.29 crore. The company had an EO expense amounting of Rs 37.22 crore. Exceptional items represents amount deducted by Government of India (GoI) in connection with a dispute between the Company and GoI about computation of interest on disputed amount of profit petroleum which is pending before the arbitration, Disputed amount of profit petroleum has been already deducted by the GoI in the past and charged to Profit and Loss Account then. The dispute regarding the correct amount payable by the Company to the GoI on account of profit petroleum and the interest thereon are pending before on International Arbitral Tribunal. PBT after EO increased 9% to Rs 315.07 crore. The effective tax rate improved 350 bps to 19% resulting 4% increase in PAT at Rs 255.07 crore.

Year to date Results

For nine months ended June 2008 Videocon Industries registered 17% increase in topline at Rs 7489.97 crore compared to corresponding previous quarter. The operating margin improved 160 bps to 20.6% resulting in 26% upsurge in operating profit at Rs 1542.23 crore.

In terms of cost as % to sales (net of stock adjustment) the raw material cost decreased 350 bps to 46.9%. Purchase of traded goods increased 110 bps to 9.9%. Employee cost was stagnant while other expenses increased 100 bps to 24.1%.

Other income of the company decreased 56% to Rs 66.12 crore. The interest expense spurted 22% to Rs 275.46 crore with PBDT level improving 16% amounting to Rs 1332.89 crore. The depreciation cost increased 9% to Rs 372.39 crore. The PBT increased 20% to Rs 960.5 crore. The effective tax rate improved 320 bps to 18.1% resulting 11% increase in PAT at Rs 755.78 crore.

Year Ended Results

For year ended September 2007 Videocon Industries registered 15% increase in its net sales to Rs8710.25 crore. The operating margin improved by 130 bps to 18.9%. The operating profit improved 26% to Rs 1645.58 crore.

In terms of cost as % to sales (net of stock adjustment) the raw material cost increased 80 bps to 47.6%. Purchase of traded goods remained inched up 10 bps to 8.8% while employee cost remained flat at 1.2% respectively. Other expenses decreased 260 bps to 23.6%.

Other income of the company inched up 1% to Rs 166.36 crore. The interest expense spurted 38% to Rs 310.5 crore with PBDT level increasing 20% amounting to Rs 1501.29 crore. The depreciation cost increased 25% to Rs 418.39 crore. The PBT increased 19% to Rs 1082.9 crore. Considering provision of tax th bottomline of the company improved 5% to Rs 858.76 crore.

Segment Results

Consumer Electronics: This segment net sale increased 8% to Rs 2017.31 crore during the quarter ended June 2008 forming 77% of the total sales. The PBIT improved 14% to Rs 231.54 crore forming 52% of the total PBIT. The capital employed in this segment increased 21% forming 96% of the total capital employed at Rs 5606.36 crore.

Crude oil and Natural Gas: This segment net sale increased 74% to Rs 595.59 crore during the quarter ended June 2008 forming 23% of the total sales. The PBIT improved 91% to Rs 218.03 crore forming 48% of the total PBIT. The capital employed in this segment increased 13% forming 4% of the total capital employed at Rs 217.04 crore.

The scrip is currently trading at Rs 286

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Ador Welding ANALYSIS

2008-08-02T09:45:00.001+05:30

Ador Welding

Tax cuts profit growth

Ador welding which is one of the two leading players in organized Indian welding consumable & equipment market posted dip in Net sales by 7% which is mainly due to degrowth in Equipment and project engineering Division by 39%. However, OPM zoomed by 710 bps and powered Profits at operating levels to pick up 42%. But the massive increase in the effective tax rate by 1740 bps made the bottom line to contract by 2%.

Performance for the quarter ended June 08

The company has shown dull performance in the topline by degrowth of 7% to Rs 42.73 crore. The company operates mainly in two segments of which Equipment and Project engineering segment contributes 30% of the total revenues, fell by 39%. Consumables segment improved by 19% and contributed remaining 70% of the total revenues. How ever, the operating profits zoomed up by 710 bps to 20.6% and accelerated Operating Profit up by 42% to Rs 8.79 crore. This improvement in OPM came from higher inventory base. The other income fell by 34%. With fall in interest cost by 12% and increase in depreciation by 36%, PBT was restricted to grow by 30% to Rs 6 crore.

The margins at PBIT level in consumables segment flung up by 1680 bps to 25.8% of sales and on the other hand equipment and project engineering segment fell by 1670 bps to 5.6% of sales. The effective tax rate flung up by 1740 bps to 36.7% and over turned the bottom line to look flat at 2% to Rs 3.80 crore.

Performance for the Year ended March 08

The sales showed a marginal growth of 2% to Rs 260.55 crore. However, as OPM fell by 120 bps to 16.1%, OP declined 5% to Rs 41.93 crore. OPM saw a slump due to the increase in staff cost and other expenditure as % of sales, Net of stock Adjustments.

The other income fell by 16% to Rs 3.16 crore and this led PBIDT to quote 6% dip to Rs 45.09 crore. Further, the interest cost and depreciation costs flung up by 120% to Rs 2.22 crore and 51% to Rs 11.92 crore, respectively, and thus paved the way for PBT to fall by 21% to Rs 30.96 crore. The PBIT margin for both consumables and Equipment and project engineering saw a dip by 140 bps to 14.1% of sales and 190 bps to 21.1% respectively. This resulted into consumables posting a decline of 10% in PBIT to Rs 23.76 crore and equipment and project engineering posting decline of 2% to Rs 19.36 crore. Consumables contributed 55% of the total PBIT and Equipment and Project Engineering contributed the 45%.

The effective tax clocked hike of 970 bps to 27.1% left the bottom line at Rs 22.56 crore, 30% lower than that of the corresponding period ended.

Other Information:

The Scrip is quoted at Rs 130.00 as on July 31, 2008.
The Promoters share holding percentage was constant at 55.9% as on quarter ended Mar 08.

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Nalco ANALYSIS

2008-08-02T09:44:00.001+05:30

Nalco

Back on growth track after a lull of 2 years

The net sales of National Aluminium Company (NALCO), leading alumina and aluminium producer and exporter in India, surged by 26% to Rs 1467.49 crore on the back of higher realizations in aluminium and alumina. The operating profit margins of the company declined by 270 bps on Y-o-Y to 50.2% mainly due to increase in staff and Power & fuel cost. The company has provided for about 25% salary hike during the quarter. At the end, the net profit for the quarter stood at Rs 525.33 crore up 18% on Y-o-Y.

The supply of coal, a major raw material, has continued to remain affected during the quarter and the purchase cost of coal has increased mainly due to increase in price by regular supplier during the year and use of expensive coal for a few months when supply from regular sources was disrupted.

Nalco’s alumina production for the quarter stood at 392,900 tonne while the aluminium production stood at 88,253 tonne. The company produced 1400 million units of power.

On the sales front also, NALCO has put up an impressive performance. The company sold 221,405 tonne of alumina in the Q1 FY09 against 207,765 tonne in corresponding previous quarter. Similarly, the aluminium sale increased from 75,858 tonne to 84,103 tonne.

Performance for the quarter ended June 2008

The net sales of the company for Q1 FY09 surged by 26% to Rs 1467.49 crore on the back of higher realizations in aluminium and alumina. The operating profit margins of the company declined by 270 bps on Y-o-Y to 50.2% mainly due to increase in staff and Power & fuel cost. The company has provided for about 25% salary hike during the quarter. staff cost, power & fuel cost and Repair & Maintenance cost and other expenditures as a % of sales (net of stock adjustments) increased by 140 bps, 60 bps and 40 bps Y-o-Y to 10.2%, 18.1% and 7.9% respectively while the cost of raw material consumed and other expenses declined by 50 and 40 bps to 10.3% and 4.5% of net adjusted sales.

After combined result of surge in turnover and dip in OPM, the operating profits of the company stood at Rs 736.83 crore, 20% higher on Y-o-Y. Other income for the quarter declined by 4% to Rs 126.21 crore. The interest cost for the period was Rs 0.40 crore (Rs 0.10 crore in Q1 FY08) while the depreciation charges for the quarter stood at Rs 67.87 crore, 2% lower on Y-o-Y. After considering which the PBT stood at Rs 794.77 crore, 17% higher on Y-o-Y. The provision for tax (including deferred tax) for the quarter stood at Rs 269.44 crore, 16% higher on Y-o-Y while the effective tax rate on PBT has declined marginally by 20 bps to 33.9%. After accounting for net tax outgo, the net profit for the quarter stood at Rs 525.33 crore after surging by 18% on Y-o-Y.

Performance for year ended March 2008

For the year ended March 2008, the company reported a dip of 16% in net sales to Rs 4988.43 crore. The reasons behind such downfall are eventually the same as lower realization from alumina & aluminium sales and steep appreciation in the value of rupee against USD. On the back of increase in all the cost elements and lower realizations, the operating margins declined by 1600 bps to 43.4%. As a result of decline in sales and margins, the operating profit stood at Rs 2166.69 crore after declining by 39% on Y-o-Y basis.

Other income increased by 42% to Rs 586.85 crore. With interest cost for the year being Rs 1.52 crore (Nil in FY07) and depreciation charges for the year being at Rs 285.43 crore, down 11% on Y-o-Y basis, the PBT for the year stood at Rs 2466.59 crore, 32% lower on Y-o-Y basis.

Provision for tax (including deferred tax) for the year stood at Rs 835.07 crore, 33% lower on Y-o-Y with effective tax rate being declined to 33.9% from 34.2% in FY07. After accounting for tax, net profit for the year registered a decline of 31% to Rs 1631.52 crore.

Segmental results

The company has segmented its business activities in three parts i.e. chemicals (alumina), aluminium and Electricity.

Chemicals-Alumina

The revenue for the quarter stood at Rs 637.86 crore, 49% higher on Y-o-Y while the segmental PBIT for the quarter surged by 80% to Rs 341.26 crore with PBIT margins of 53.5% for Q1 FY09 against 44.9% in Q1 FY08.

Aluminium

The revenue in aluminium segment also surged by 19%Y-o-Y to Rs 1082.25 crore while the PBIT margin for the quarter declined to 32.6% against 39.2%in corresponding previous quarter with PBIT of Rs 352.36 crore, down 1% on Y-o-Y.

Electricity

The segment recorded sales of Rs 217.60 crore for Q1 FY09, up 4% on Y-o-Y. The PBIT for the quarter stood at Rs 38.26 crore, 42% lower on Y-o-Y while the PBIT margin dipped to 17.6% from 31.5% in corresponding previous quarter.

Segmental result of Electricity segment has come down due to higher purchase cost of coal arisen of increase in price by regular supplier during the year and use of expensive coal for a few months when supply from regular sources was disrupted.

Recent Developments

The state-level single window clearance authority of Orissa Govt has cleared NALCO’s Rs16,345 crore investment proposal to set up a 5 lakh tonne Smelter and 1260 MW Captive Power Plant at Brajarajnagar in Jharsuguda district. The proposal now awaits approval of Apex-level Committee chaired by the Chief Minister.

At the same time, the 2^nd phase expansion projects of the company are nearing completion with an investment of about Rs 5000 crore. The company has also drawn ambitious plans to invest around Rs 40,000 crore in various greenfield projects in India and abroad, including Indonesia, South Africa and Iran.

At the beginning of this year, NALCO signed a MoU with the Govt of Indonesia, to set up a 5 lakh tonne Smelter and a 1250 MW Captive Power Plant in that country. The company plans to invest around Rs 14,000 crore in this greenfield project, for which Tanjung Enim and Tanjung Api-Api are the probable sites. The consultants have favoured Tanjung Api-Api based on their preliminary site-survey and studies.

NALCO is also pushing ahead its plan to open a new bauxite mine in Andhra Pradesh and set up an Alumina Refinery there.

Valuation

Currently the shares of Nalco are quoting at Rs 425 (LTP on 31^st July 2008) at BSE, which discounts the annualized Q1 FY08 EPS of Rs 32.6 on equity share capital of Rs 644.31 crore by 13 times.

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Ranbaxy Laboratories - Plans to start Phase III trials of RBx 11160 in early 2009

2008-08-02T09:41:00.000+05:30

Ranbaxy Laboratories

Plans to start Phase III trials of RBx 11160 in early 2009

Ranbaxy Laboratories declared the results for the quarter ended June’08 and held a tele conference call on 29^th July 2008 to discuss the financial performance as well as future plans. The key takeaways from the meet are as follows:

Financial Highlights

The company registered a growth of 13% to Rs 1821.20 crore in its consolidated net sales. The other operating income increased by 45% to Rs 107.40 crore resulting total operating income to increase by 14% to Rs 1928.60 crore. The R & D expenditure for the quarter stood at Rs 108.40 crore. The company incurred forex loss of Rs 193.10 crore which overturned the company’s financial performance and thus net profit fell by 91% to Rs 22.90 crore.

Key Highlights of the meet

Geographical sales break-up:

India sales grew by 3% to USD 90 million.
North America sales grew by 18% to USD 120 million.
Europe sales grew by 4% to USD 89 million.
Asia Pacific & CIS (excluding India) sales went up by 20% to USD 49 million.
Rest of World sales grew by 11% to USD 60 million.
Active Pharmaceutical Ingredients (API) went up by 31% to USD 32 million.

Brazil posted sales of USD 15 million, recording a growth of 45% over corresponding previous period.
Romania recorded sales of USD 31 million, a growth of 5% over corresponding previous period.
Africa recorded sales of USD 31 million, a growth of 36% y-o-y basis.
Developed markets accounts for 40% to global sales, emerging markets accounts for 53% of global sales and Active Pharmaceutical Ingredients accounts for 7%.

Japan based Pharmaceutical company Daiichi Sankyo acquired the promoter stake of company in the quarter under review.
Company settled patent litigation of Atorvastatin (Lipitor) with Pfizer Inc and plans to launch it, in the month of November.2011.
Company received tentative approval from the US FDA to manufacture and market Valganciclovir Hydrochloride Tablets.
Company filed 2 ANDAs including 1 PEPFAR filing with US FDA and received approval for 4 regular ANDAs.
In the European Union (EU), the company made 3 national filings in 2 Reference Member states (RMS) and received 10 approvals in 5 RMS.
Company hedged 20-25% of future sales.
RBx 11160 Phase II trials expected to complete by end of 2008 and expects to start Phase III trials in early 2009

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

India Glycols net profit declines 65.96% in the June 2008 quarter

2008-08-02T09:24:00.002+05:30

India Glycols net profit declines 65.96% in the June 2008 quarter

Sales decline 7.80% to Rs 250.06 crore

Net profit of India Glycols declined 65.96% to Rs 12.13 crore in the quarter ended June 2008 as against Rs 35.63 crore during the previous quarter ended June 2007. Sales declined 7.80% to Rs 250.06 crore in the quarter ended June 2008 as against Rs 271.21 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Ruby Mills net profit rises 14.29% in the June 2008 quarter

2008-08-02T09:24:00.001+05:30

Ruby Mills net profit rises 14.29% in the June 2008 quarter

Sales rise 12.58% to Rs 29.99 crore

Net profit of Ruby Mills rose 14.29% to Rs 1.84 crore in the quarter ended June 2008 as against Rs 1.61 crore during the previous quarter ended June 2007. Sales rose 12.58% to Rs 29.99 crore in the quarter ended June 2008 as against Rs 26.64 crore during the previous quarter ended June 2007

ABOVE ARTICLE IS REFERRED FROM CAPITALMARKET.COM
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Core Projects & Technologies net profit rises 26.86% in the June 2008 quarter

2008-08-02T09:23:00.000+05:30

Core Projects & Technologies net profit rises 26.86% in the June 2008 quarter

Sales rise 34.68% to Rs 64.90 crore

Net profit of Core Projects & Technologies rose 26.86% to Rs 13.32 crore in the quarter ended June 2008 as against Rs 10.50 crore during the previous quarter ended June 2007. Sales rose 34.68% to Rs 64.90 crore in the quarter ended June 2008 as against Rs 48.19 crore during the previous quarter ended June 2007
capmkt
Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Simplex Infrastructures Ltd ANALYSIS

2008-08-02T09:21:00.000+05:30

Simplex Infrastructures Ltd				BSE Code: 523838

	FY-08	FY-07	FY-06	FY-05	FY-04	FY-09 Q1	FY-08 Q1	FY-07 Q4
						Apr-Jun	Apr-Jun	Jan-Mar
Total Income	28,366.60	17,215.90	13,478.60	10,002.20	6,432.50	10,184.60	5,980.70	9,582.70
Expenditure	25,446.10	15,491.00	12,264.70	9,288.30	5,974.50	9,204.30	5,360.60	8,675.50
Operating Profit	2,920.50	1,724.90	1,213.90	713.90	458.00	980.30	620.10	907.20
Op Profit %	10.30%	10.02%	9.01%	7.14%	7.12%	9.63%	10.37%	9.47%
Interest	1,007.30	632.30	403.60	280.90	240.20	274.50	240.80	215.00
Depreciation	642.70	391.00	229.30	89.00	75.40	153.50	126.40	203.50
Tax	369.70	164.50	164.60	92.30	45.40	169.00	56.00	199.00
	2,019.70	1,187.80	797.50	462.20	361.00	597.00	423.20	617.50
Net Profit	900.80	537.10	416.40	251.70	97.00	383.30	196.90	289.70
Net Pr %	3.18%	3.12%	3.09%	2.52%	1.51%	3.76%	3.29%	3.02%
Earning Per Share	19.76	12.53	52.60	34.53	13.30	7.50	4.59	5.67
			9.67	6.87	2.65
Share Capital	99.30	86.10	86.10	73.30	73.30	99.30	86.10	99.30
Reserves	7,219.20	2,672.60	2,246.10	990.70	776.40
Book Value	147.40	64.08	270.87	145.16	115.92
		Split 10-2 20-09-06
Dividend	100.00%	80.00%	50.00%	45.00%	15.00%
Dividend Payout	10.12%	12.77%	9.51%	13.03%	11.28%

Return on Equity	12.31%	19.47%	17.85%	23.66%	11.42%

Growth in Income	64.77%	27.73%	34.76%	55.49%	16.87%	70.29%		6.28%

Growth in Profit	67.72%	28.99%	65.44%	159.48%	10.86%	94.67%		32.31%

Net Sales	28,120.90	17,109.60	13,445.80	9,990.10	6,413.30	10,166.60	5,944.30	9,489.50
Other Income	245.70	106.30	32.80	12.10	19.20	18.00	36.40	93.20
Total Income	28,366.60	17,215.90	13,478.60	10,002.20	6,432.50	10,184.60	5,980.70	9,582.70

Stock
Materials	12,750.90	7,751.90	6,483.20	5,236.10	3,089.60	4,689.90	2,687.40	4,618.30
Sub Contractors						3,090.70	0.00
Staff Cost	8,912.80	5,413.50	4,288.80	2,748.50	2,000.30	0.00	1,879.40	2,887.70
Amortization						101.20	0.00
Other Expenditure	3,782.40	2,325.60	1,492.70	1,303.70	884.60	1,285.00	793.80	1,169.50
Exceptional Item						37.50	0.00
Total Expenditure	25,446.10	15,491.00	12,264.70	9,288.30	5,974.50	9,204.30	5,360.60	8,675.50

Materials%	44.95%	45.03%	48.10%	52.35%	48.03%	46.05%	44.93%	48.19%
Sub Contractors%	0.00%	0.00%	0.00%	0.00%	0.00%	30.35%	0.00%	0.00%
Staff Costs %	31.42%	31.44%	31.82%	27.48%	31.10%	0.00%	31.42%	30.13%
Amortization%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%	0.00%	0.00%
Other Exp %	13.33%	13.51%	11.07%	13.03%	13.75%	12.62%	13.27%	12.20%

Interest %	3.55%	3.67%	2.99%	2.81%	3.73%	2.70%	4.03%	2.24%
Depreciation %	2.27%	2.27%	1.70%	0.89%	1.17%	1.51%	2.11%	2.12%
Tax %	1.30%	0.96%	1.22%	0.92%	0.71%	1.66%	0.94%	2.08%

Super results declared by Simplex Infra for the first quarter ended Jun-08. Total Income has gone up by 70.29% to Rs 10,184.5 million in the first quarter ended Jun-08 as compared to Rs 5,980.7 million for quarter ended Jun-07. The Net Profit is up by 94.67% to Rs 383.3 million for quarter ended Jun-08 as compared to Rs 196.9 million for quarter ended Jun-07. As compared to Mar-08 on quarter to quarter basis, the Total Income is up by 6.28% and the Net Profit is up by 32.31%.

The EPS for quarter ended Jun-08 is Rs 7.5 as compared to Rs 4.59 for the same period last year. If current quarter's EPS is annualized the EPS for FY-08 would be around Rs 30. At current market price of Rs 430 the PE is 14.3.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.

Surya Pharmacuticals Ltd-ANALYSIS

2008-08-02T09:03:00.000+05:30

Surya Pharmacuticals Ltd				BSE Code: 532516

	FY-08	FY-07	FY-06	FY-05	FY-04	FY-09 Q1	FY-08 Q1	FY-07 Q4
						Apr-Jun	Apr-Jun	Jan-Mar
Total Income	4,980.83	2,874.94	2,380.37	1,709.48	1,622.14	1,595.89	1,036.23	1,573.05
Expenditure	4,122.42	2,322.94	1,897.25	1,409.26	1,373.46	1,310.25	853.04	1,333.35
Operating Profit	858.41	552.00	483.12	300.22	248.68	285.64	183.19	239.70
Op Profit %	17.23%	19.20%	20.30%	17.56%	15.33%	17.90%	17.68%	15.24%
Interest	201.61	146.42	118.05	102.24	97.26	75.31	40.54	61.53
Depreciation	104.30	81.07	81.52	56.99	51.81	42.78	22.01	27.70
Tax	85.10	51.29	44.47	25.95	12.21	25.14	18.77	22.57

	391.01	278.78	244.04	185.18	161.28	143.23	81.32	111.80
Net Profit	467.40	273.22	239.08	115.04	87.40	142.41	101.87	127.90
Net Pr %	9.38%	9.50%	10.04%	6.73%	5.39%	8.92%	9.83%	8.13%
Earning Per Share	27.14	18.88	21.58	10.77	8.35	8.27	7.04	8.84

Share Capital	144.68	144.68	110.78	106.78	104.68	144.68	144.68	144.68
Reserves			797.40	591.54	491.12
Book Value	10.00	10.00	81.98	65.40	56.92

Dividend	10.00%	0.00%	0.00%	0.00%	0.00%
Dividend Payout	3.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Growth in Income	73.25%	20.78%	39.25%	5.38%		54.01%		1.45%

Growth in Profit	71.07%	14.28%	107.82%	31.62%		39.80%		11.34%

Net Sales	4,966.74	2,874.94	2,364.90	1,703.27	1,619.87	1,580.87	1,036.23	1,564.83
Other Income	14.09	0.00	15.47	6.21	2.27	15.02	0.00	8.22
Total Income	4,980.83	2,874.94	2,380.37	1,709.48	1,622.14	1,595.89	1,036.23	1,573.05

Stock	(0.730)	(12.312)	(2.695)	(9.424)	6.389	(0.93)	(0.20)	(0.62)
Raw Materials	3,746.670	2,061.940	1,688.062	1,255.221	1,214.331	1,191.97	766.81	1,233.09
Staff Cost	82.250	58.540	37.161	30.175	24.736	29.10	14.88	26.46
Other Expenditure	294.220	214.769	174.723	133.285	128.012	90.11	71.55	74.41
Total Expenditure	4,122.410	2,322.937	1,897.251	1,409.257	1,373.468	1,310.250	853.036	1,333.340

Materials %	75.21%	71.29%	70.80%	72.88%	75.25%	74.63%	73.98%	78.35%
Staff Costs %	1.65%	2.04%	1.56%	1.77%	1.52%	1.82%	1.44%	1.68%
Other Exp %	5.91%	7.47%	7.34%	7.80%	7.89%	5.65%	6.91%	4.73%

Interest %	4.05%	5.09%	4.96%	5.98%	6.00%	4.72%	3.91%	3.91%
Depreciation %	2.09%	2.82%	3.42%	3.33%	3.19%	2.68%	2.12%	1.76%
Tax %	1.71%	1.78%	1.87%	1.52%	0.75%	1.58%	1.81%	1.43%

Inc Int%						85.77%		22.40%
Inc Dep%						94.37%		54.44%
Inc Tax%						33.94%		11.39%

Excellent results declared by Surya Pharma for the first quarter ended Jun-08. Total Income has gone up by 54% to Rs 1,595.89 million in the first quarter ended Jun-08 as compared to Rs 1,036.23 million for quarter ended Jun-07. The Net Profit is up by 39.8% to Rs 142.41 million for quarter ended Jun-08 as compared to Rs 101.87 million for quarter ended Jun-07.

The growth in Net Profit has not matched with the growth in Total Income as Interest has gone in Jun-08 quarter by 86% o Rs 75.31 million (Jun-07 quart Rs 40.54 million), depreciation by 94% to Rs 42.78 million (Jun-07 quarter Rs 22.01 million) and tax by 34% to Rs 25.14 million (Jun-07 quarter Rs 18.77 million).

As compared to Mar-08 quarter, the Total Income is up by 1.45% and the Net Profit is up by 11.34%.

The diluted EPS for quarter ended Jun-08 is Rs 8.27 as compared to Rs 7.04 for the same period last year. If current quarter's EPS is annualized the EPS for FY-08 would be around Rs 33. At current market price of Rs 109.6 the PE is mere 3.3.

Please feel free to comment and mail this article to your freinds.just click on envelope to mail this article to your freinds.