3.69 crore shares were traded in IFCI counter on BSE today. The scrip topped volumes on BSE. The share price rose 5.02% to Rs 63.75.

IFCI announced today, 6 August 2007 that the board of directors of the company at its meeting held on 4 August 2007, has approved inviting of expression of interest from strategic investors. The stock has surged since the beginning of this month on the back of reports that Citigroup, Lehman Brothers, BNP Paribas, Deutsche Bank and Barclays are interested in buying 26% in the financial services firm.

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.

Debutante Alpa Laboratories clocked the second highest volume of 90.64 lakh shares on BSE. The stock settled at Rs 55.60 on BSE, a discount of 18.23% over IPO price of Rs 68.

The price band for the issue was fixed at Rs 62 - Rs 68 a share. Alpa Laboratories IPO ended on 17 July 2007, with 1.11 times subscription. The issue received total bids for 1.05 crore shares as against total issue size of 95 lakh shares.

The company intends to deploy the issue proceeds to part-finance the setting up of a new plant in Madhya Pradesh. The plant is being set up at a cost of Rs 70.88 crore.

The company also plans to widen product range by foraying into probiotics, prebiotics and pre-filled syringes. It will also expand contract manufacturing activities to include large multinational companies. The expansion project will be financed through a term loan of Rs 20 crore, promoters’ contribution of Rs 3 crore and balance from the IPO.

Reliance Natural Resources (RNRL) clocked the third highest volume of 80.94 lakh shares on BSE. The share price rose 0.58% to Rs 43.45.

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.

Nagarjuna Fertilisers and Chemicals clocked the fourth highest volume of 53.11 lakh shares on BSE. The share price rose 4.11% to Rs 24.05.

The derivative contracts in the Nagarjuna Fertilisers and Chemicals have crossed 95% of the market-wide position limit and the scrip is in the ban period on NSE.

Net profit of Nagarjuna Fertilizers & Chemicals declined 7.02% to Rs 7.15 crore on rise of 2.18% to Rs 300.30 crore in sales in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.

Mangalore Chemicals & Fertilizers clocked the fifth highest volume of 50.59 lakh shares on BSE. The share price rose 8.93% to Rs 27.45.

Net profit of Mangalore Chemicals & Fertilizers rose 100% to Rs 7.02 crore on rise of 16.58% to Rs 333.21 crore in sales in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.