2.6 crore shares were traded in IFCI counter on BSE today. The scrip topped volumes on BSE. The share price rose 7.93% to Rs 56.50.

As per reports today, 2 August 2007 Citigroup, Lehman Brothers, BNP Paribas, Deutsche Bank and Barclays are interested in buying 26% in the financial services firm.

Meanwhile, the derivative contracts in the underlying IFCI security 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.

Facor Alloys clocked the second highest volume of 82.84 lakh shares on BSE. The share price declined 5% to Rs 4.20.

Net profit of Facor Alloys rose 3700% to Rs 15.20 crore Q1 June 2007 over Q1 June 2006. Sales rose 28.99% to Rs 45.87 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 26 July 2007.

Reliance Natural Resources (RNRL) clocked the third highest volume of 74.10 lakh shares on BSE. The share price rose 2.04% to Rs 42.45.

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.

Spice Communications recorded fourth highest volume of 52.33 lakh shares on BSE. The scrip rose 5.03% to Rs 58.45.

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 profit of 0.42 crore in Q2 June 2007 compared to a net loss of Rs 11.55 crore in Q2 June 2006. Sales rose 31.4% to Rs 231.75 in Q2 June 2007 over Q2 June 2006.

IKF Technologies clocked the fifth highest volume of 38.28 lakh shares on BSE. The share price declined 1.16% to Rs 7.69.

On 1 August 2007, the board of IKF Technologies has approved the joint venture agreement with telecommunication company of USA, VOIP Telesystems Inc. to give a platform for hosting the services for the calling card.

Net profit of IKF Technologies declined 65.15% to Rs 0.84 crore Q1 June 2007 over Q1 June 2006. Sales declined 60.24% to Rs 8.52 crore in Q1 June 2007 as against Rs 21.43 crore over Q1 June 2006. The results were announced today, 2 August 2007.