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Debutante HDIL tops volume on BSE

Tuesday, July 24, 2007

1.56 crore shares were traded in Housing Development and Infrastructure counter on BSE today. The scrip topped volumes on BSE. Real-state developer Housing Development and Infrastructure (HDIL) scrip ended at Rs 558.60 on BSE, a premium of 11.72% over the IPO price of Rs 500.

The company had fixed the IPO price at Rs 500, the upper end of the Rs 430 - Rs 500 price band. The stock will also be part of NSE's F&O with a lot size of 400. The IPO of HDIL received a good investor response. The IPO was subscribed 6.6 times. The issue closed on 3 July 2007.

HDIL focuses on real estate development, which includes residential, commercial, retail projects and slum rehabilitation and development. On consolidated basis, HDIL reported a net profit of Rs 548 crore on sales of Rs 1204.19 crore in the year ended March 2007.

Suryachakra Power Corporation clocked the second highest volume of 1.32 crore shares on BSE. The scrip had made its debut on bourses on Monday, 23 July 2007. It rose 1.12% to Rs 22.60 today 24 July 2007.

The Suryachakra IPO ended on 29 June 2007 with 2.18 times subscription. The issue received total bids for 7.42 crore shares compared to total issue size of 3.40 crore shares. The company had fixed IPO price at the top end of the Rs 17 - 20 price band.

On consolidated basis, Suryachakra Power Corporation had reported a net profit of Rs 1.36 crore on sales of Rs 92.82 crore in the year ended March 2007.

IFCI clocked the third highest volume of 1.12 crore shares on BSE. The share price rose 0.8% to Rs 50.50.

The derivative contracts in the underlying IFCI have crossed 95% of the market-wide position limit and are currently in the ban period.

On 9 July 2007, IFCI announced that the board of directors of the company at its meeting held on 06 July 2007 had approved `in principle' a proposal for inviting expression of interest from strategic investors in accordance with long-term vision and business objectives of the company. The state-run lender is seeking a strong partner, be it an Indian entity or from overseas, which can add value to the company.

IFCI reported a net profit of Rs 246.86 crore in Q1 June 2007 over Q1 June 2006. Operating income rose 96.6% to Rs 506.35 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 6 July 2007.

Spice Communications recorded fourth highest volume of 1.09 crore shares on BSE. The scrip rose 3.15% to Rs 58.95.

The company had raised Rs 528 crore in an initial public offering (IPO), which closed on 27 June 2007. The IPO was oversubscribed more than 37 times. The IPO was priced at the top end of the Rs 41-Rs 46 price band.

Spice Communications will use around 50% of the total proceeds to retire part of its Rs 1,000-crore debt, while the remaining would be used for expansion plans.

Spice Communications reported net loss of Rs 41.80 crore on revenues of Rs 385.11 crore in the six months ended December 2006.

Reliance Natural Resources (RNRL) clocked the fifth highest volume of 87.16 lakh shares on BSE today. The share price declined 0.12%to Rs 43.15.

The Bombay High Court's final verdict on the allocation of gas from Reliance Industries' (RIL) Krishna-Godavari block which was adjourned till 18 July 2007 was adjourned again by eight weeks. The court, however, said the government can go ahead with the process of fixing of gas price as per the contract for the field, without any prejudice to either party.

Reliance Industries (RIL) had challenged Justice A M Khanvilkar's interim order restraining it from selling 40 million standard cubic metres of gas per day to be produced in Krishna Godavari gas field, which RNRL says has been committed to it for its power plants.

The Bombay High Court said on 21 June 2007 that 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 standard cubic metres per day (mscmd) of gas is to be earmarked for RNRL, NTPC or for RIL’s captive use for the next eight years.

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.

Posted by FR at 5:45 PM  


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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.