Meghmani Organics witnessed superb buying interest, sees FY08 net profit over Rs 55 Cr, looking at prodt acquisitions in US, Brazil, Mexico

Meghmani Organics witnessed superb buying interest from investors on its debut on the stock exchanges. The stock high of Rs 34 and an intra day low of Rs 26.15. At 16:02 pm the share was quoting at Rs 26.65, up Rs 7.65, or 40.26%. Total traiding volumes were 471,85,073 shares.

Jayanti Patel, CMD, Meghmani Organics said that company has set some targets and is ambitious to cross Rs 55 crore net profit in this year. Company has some great plans for the future. The company is listed in Singapore and it is exporting the products to almost 58 countries, he added.

Mr Patel said that the company has four manufacturing sites, two of which are agro chemical and two are pigment divisions.

About furture plans, he said that they are talking to number of companies and are looking at acquiring product registration in US, Brazil and Mexico. He also said that the company is having some plans for mergers and acquisitions and the company is looking at South American countries and USA. The company is also looking for product licensing and is coming out with higher performance pigments, that will increase the bottomline because those are the pigments going for high-end applications for paints and plastics.

The company is having 441 registrations in pipeline.Company has achieved 96 registrations already and once our registration will be through, then this we will use to increase our bottomline, he said.




HDFC hits 52 week high; Deepak Parekh expects realty prices to soften, Says interest rates are at peak

HDFC has touched a 52 week high of Rs 1,960 and an intra day low of Rs 1,876.05. Currently, the share is quoting at Rs 1,956.00, up Rs 91.20, or 4.89%. It is trading with volumes of 148,985 shares, compared to its 5-day average of 94,138 shares, an increase of 58.26%. Yesterday the share closed down 1.06% or Rs 20.05 at Rs 1,864.80. The market cap of the company has reached 49,486 crore.

HDFC chairman Deepak Parekh in the company's general meeting held in Mumbai on Wednesday, 27 June 2007, noted that interest rates have reached a peak and are likely to remain stable in the next six months, as it does not expect further interest rate hike by Reserve Bank of India (RBI).

Real estate prices could fall up to 10-20% in the next three to four months, Parekh said. Real estate prices are sliding in areas such as Delhi, Gurgaon and Bangalore. Developers are giving freebies which is indicative of prices cooling down. Parekh added that a crash is unlikely. The regulatory curbs on lending to real estate have been putting pressure on some property developers.




Pfizer Q2 Standalone Net Profit at Rs 257.76 Cr vs Rs 35.89 Cr (YoY)

Pfizer has reported its numbers. The Q2 Standalone Net Profit is at Rs 257.76 crore vs Rs 35.89 crore (YoY). The Q2 Standalone Net Sales are at Rs 164.67 crore vs Rs 167.07 crore (YoY). Other Income is at Rs 291 crore vs Rs 22 crore.

For H1, the standalone Net Sales are at Rs 319.67 crore vs Rs 313.05 crore (YoY). The Net Profit is at Rs 286.03 crore vs Rs 60.66 crore (YoY). Pfizer Q2 Net Profit includes sale of land in Chandigarh.




IFCI hits 52-week high; Co sells Malavika steel plant to JP Associates for Rs 200 Cr
IFCI has touched a 52 week high of Rs 53.70 and an intra day low of Rs 52.60. Currently, the share is quoting at Rs 53.60, up Rs 2.00, or 3.88%. It is trading with volumes of 6,026,482 shares, compared to its 5-day average of 8,970,716 shares. JP Associates has bought out Malvika Steel plant for Rs 207 crore and will invest Rs 1200 crore to revamp the plant.

Also Technical Analyst Rajat K BOse says that the stock is giving strong technical signals. "It is going to rally forward irrespective of what is happening to the market unless ofcourse there is big fall. My feeling is that IFCI once it crosses Rs 53, it is heading towards Rs 57 in the short-term and in a month or a couple of months it may even hit Rs 64-67 levels."