IFCI, RNRL, IKF Technologies and Reliance Petroleum follow.

On BSE, 4.71 crore shares were traded in Meghmani Organics counter. The scrip debuted on the bourses today, topped volumes on BSE.

The share price closed at a premium of 40.2% at Rs 26.65 over its IPO price of Rs 19. The company had priced its IPO at the top end of the Rs 17 - Rs 19 price band. Each share has a face value of Re one.

Meghmani Organics IPO ended on 7 June 2007, with 23.94 times subscription. There were total bids for 143.63 crore shares as against the issue size of 6 crore shares. The post-issue equity of the company is Rs 25.43 crore.

The object of the IPO was to set up a new high performance pigment plant at Vatva, Ahmedabad, and a multi-purpose agro-chemicals plant at Panoli in Gujarat. The company would also use the proceeds to invest in subsidiary, Meghmani Energy, to finance the 3-megawatt captive power plant, to fund inorganic growth and diversification opportunities and working capital requirement.

Meghmani Organics reported a net profit of Rs 32.08 crore on sales of Rs 369 crore in the nine months ended December 2006.

IFCI clocked the second highest volume of 2.53 crore shares on BSE The IFCI share price rose 7.36% to Rs 55.40.

On 27 June 2007, Reserve Bank of India allowed foreign investors to purchase shares in the company.

On 4 May 2007, IFCI had raised overseas investment ceiling in the company to 74% from 24%.

The company reported robust results on 3 May 2007. It posted net profit of Rs 668.43 crore in Q4 March 2007 as against net loss of Rs 1.11 crore in the previous quarter ended March 2006. Operating income rose 40.1% to Rs 1236.11 crore in Q4 March 2007 as against Rs 882.29 crore during Q4 March 2006.

IFCI recorded net profit of Rs 898.02 crore in the year ended March 2007 (FY 2007) as against net loss of Rs 74.10 crore in FY 2006. Operating income increased 20.91% to Rs 2070.99 crore in FY 2007 as against Rs 1875.26 crore in FY 2006. The results were announced on 3 May 2007.

Reliance Natural Resources (RNRL) clocked the third highest volume of 1.33 crore shares on BSE. The share price rose 2.56% to Rs 36.05.

The Bombay High Court said on 21 June 2007, that Reliance Industries (RIL) cannot sell the gas to be produced from one of its prime blocks in the Krishna-Godavari basin to any third party other than Anil Ambani’s RNRL and NTPC. In an interim order on a petition filed by RNRL, the high court said that the 81.6 million cubic metres of gas per day (mmscmd) is to be earmarked for RNRL, NTPC or for RIL’s captive use for the next eight years.

As per recent reports, RNRL had sent a legal notice to the petroleum ministry against the bids invited by Reliance Industries (RIL) for sale of gas and its proposal to enter into gas sales agreements. RNRL has claimed that this violates the interim stay order of the Bombay High Court, which had restrained RIL from selling the disputed proportion 28 million standard cubic metres per day (mmscmd) committed to RNRL to a third party or from utilising the gas for its own captive use till a final settlement on the issue.

On 4 May 2007 an interim order was passed by Justice A M Khanwilkar, preventing RIL from selling off the quantity of gas from its Andhra offshore field committed to younger brother Anil Ambani's entities including RNRL as part of 2005 demerger pact between the two brothers Mukesh and Anil.

RNRL’s net profit jumped to Rs 7.35 crore in the quarter ended March 2007 from Rs 1.04 crore in the quarter ended March 2006. Sales vaulted to Rs 56.33 crore, from Rs 0.41 crore.

IKF Technologies clocked the fourth highest volume of 1.04 crore shares on BSE. The share price declined 5% to Rs 7.42.

IKF Technologies announced on 27 June 2007, that it had entered into a joint venture agreement with Salampuria Agrotech for undertaking bio fuel activity in the state of Jharkhand. The Indian Council of Agricultural Research (ICAR) has extended co-operation and it will provide necessary technical know-how to the company for Jatropha cultivation in different parts of North Eastern Himalayan Region.

The company’s board in a meeting held on 25 June 2007, did not recommend bonus issue. Earlier on 12 June 2007, the company had announced that the board would consider bonus issue on 25 June 2007.

IKF Technologies net profit declined 85.60% to Rs 0.18 crore in Q4 March 2007 as against Rs 1.25 crore in Q4 March 2006. Sales declined 70.25% to Rs 4.90 crore in Q4 March 2007 as against Rs 16.47 crore in Q4 March 2006.

The net profit rose 31.94% to Rs 0.95 crore in the year ended March 2007 (FY 2007) as against Rs 0.72 crore during the previous year ended March 2006 (FY 2006). Sales rose 35.98% to Rs 14.36 crore in FY 2007 as against Rs 10.56 crore in FY 2006. The results were announced on 25 June 2007.

Reliance Petroleum clocked the fifth highest volume of 77.49 lakh shares on BSE. The share price rose 2.11% to Rs 111.25, a record closing high.

In May 2007, Reliance Petroleum (RPL) said that it had made remarkable progress on all implementation fronts for its global sized, complex refinery coming up in a Special Economic Zone at Jamnagar in Gujarat with the overall project completion nearing 50%, in just 15 months since commencement of the project.

As per reports, American petroleum major Chevron may increase its stake in Reliance Petroleum (RPL). Chevron already holds 5% in the company that came out with an initial public offer in April 2006.