About 2.32 crore shares were traded in the Reliance Natural Resources (RNRL) counter on BSE today. The share price rose 3.6% to Rs 43.15.

The Bombay High Court's final verdict on the allocation of gas from Reliance Industries' (RIL) Krishna-Godavari block has been adjourned to 18 July 2007.

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.

RNRL’s net profit jumped to Rs 7.35 crore in the fourth 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.

Bellary Steels & Alloys clocked the second highest volume of 1.42 crore on BSE. The share price rose 3.72% to Rs 2.23.

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.

Debutante Celestial Labs clocked the third highest volume of 77.87 lakh shares on BSE. Celestial Labs closed at Rs 67.20 on BSE, a premium of 12% over the IPO price of Rs 60.

The company raised Rs 30 crore through its initial public issue, which ended on 22 June 2007. The fixed price issue was offered at Rs 60 per share with each share having a face value of Rs 10 each.

The IPO proceeds will be utilised for part financing its infrastructure for manufacturing of enzymes and enhance the existing infrastructure for bioinformatics and drug molecule development and related services. The company also plans setting up of marketing and liaison office at USA.

The company posted a net profit of Rs 5.14 crore on revenue of Rs 14.13 crore in the year ended 31 March 2007.

Silverline Technologies clocked the fourth highest volume of 74.80 lakh shares on BSE. The share price rose 1.53% to Rs 14.63.

Silverline’s net profit declined 37.89% to Rs 3.31 crore in Q3 March 2007 compared with Rs 5.33 crore in Q2 December 2006. Sales moved up 7.85% to Rs 21.29 crore in Q3 March 2007 as against Rs 19.74 crore in Q2 December 2006. The results were announced on 20 April 2007.

Silverline Technologies announced on 30 April 2007 that the company, in line with its expansion plans, has chalked out a strategy to strengthen and add finance and banking business process outsourcing (BPO) practice to its fold through the acquisition of a BPO business in North America.

IFCI clocked the fifth highest volume of 74.03 lakh shares on BSE. The share price declined 0.92% to Rs 60.85.

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 as against a net loss of Rs 15.61 crore in Q1 June 2006. Operating income rose 96.6% to Rs 506.35 crore in Q1 June 2007 as against Rs 257.61 crore in Q1 June 2006. The results were announced on 6 July 2007.