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IFCI tops volume on BSE

Thursday, July 26, 2007

1.56 crore shares were traded in IFCI counter on BSE today. The scrip topped volumes on BSE. The share price rose 4.95% to Rs 53.

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

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.

Bellary Steels & Alloys clocked the second highest volume of 1.44 crore on BSE. The share price rose 5% to Rs 2.96.

Bellary Steels & Alloys reported net loss of Rs 28.04 crore in Q4 March 2007 as against net loss of Rs 23.21 crore in Q4 March 2006. Sales rose 31.39% to Rs 9.46 crore in Q4 March 2007 as against Rs 7.20 crore in Q4 March 2006.

On 28 June 2007, the company said the corporate debt restructuring proposal submitted in June 2007 is under the active consideration of the Industrial Development Bank of India, the lead financial institution for the company. The proposal is expected to be completed and in place within the next three months. After the restructuring of debts availability of captive ore and commissioning of the power plant, the bottom line and the cash flow would improve tremendously

Debutant Allied Digital Services clocked the third highest volume of 88.27 lakh shares on BSE. The stock ended at Rs 331.80 on BSE, a premium of 74.63% over the IPO price of Rs 190.

The company had fixed the IPO price at the top end of the Rs 170 - Rs 190 price band. Allied Digital Services IPO ended on 5 July 2007, with 60.87 times subscription. The bids totalled 27.52 crore shares for 45.22 lakh shares on offer.

The company plans to use the funds for expansion and acquisitions. Allied Digital had reported a net profit of Rs 22.93 crore on revenue of Rs 156 crore in the year ended March 2007. The company's order book stood at Rs.107.81 crore as on 12 June 2007. Of this, Rs 54.70 crore was from the services segment and Rs 53.11 crore from the solutions segment.

Spice Communications recorded fourth highest volume of 71.15 lakh shares on BSE. The scrip declined 0.76% to Rs 58.50.

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.

Suryachakra Power Corporation clocked the fifth highest volume of 60.90 lakh shares on BSE. The scrip had made its debut on bourses on Monday, 23 July 2007. The share price declined 2.65% to Rs 22 today, 25 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.

Posted by FR at 5:12 AM  


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