1.35 crore shares were traded in Reliance Natural Resources (RNRL) counter on BSE today. The scrip topped volumes on BSE. The share price declined 5.56% to Rs 41.60.

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.

IFCI clocked the second highest volume of 1.08 crore shares on BSE. The share price declined 8.88% to Rs 52.35.

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.

Everonn Systems India clocked the third highest volume of 71.77 lakh shares on BSE. The share price of Everonn Systems India ended at Rs 478.45 on BSE, a premium of 241.75% over the IPO price of Rs 140 on its debut today, 1 August 2007.

The company had fixed the issue price at the top end of the Rs 125-Rs 140 price band. The IPO received total bids for 52.58 crore shares compared to total issue of 40 lakh shares

The company intends to deploy the proceeds of the IPO for capital expenditure in its two strategic business units:institutional education and IT infrastructure services, and virtual and technical enabled learning solutions.

Everonn Systems India had reported a net profit of Rs 4.86 crore on operating income of Rs 43.04 crore in the year ended March 2007.

Industrial Investment Trust clocked the fourth highest volume 54.47 lakh shares on BSE. The share price declined 7.32% to Rs 100.

Industrial Investment Trust reported a net profit of Rs 3.23 crore in the Q1 June 2007 as against net loss of Rs 7.45 crore in Q1 June 2006. Sales rose 411.76% to Rs 2.61 crore in Q1 June 2007 over Q1 June 2006.

Bellary Steels & Alloys clocked the fifth highest volume of 54.04 lakh shares on BSE. The share price rose 5% to Rs 3.75.

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 over 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.