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VSNL leads gainers in ‘A’ group

Friday, October 19, 2007

International carrier VSNL surged 5.2% to Rs 515.85. The scrip topped gainers in BSE’s A group shares. VSNL today announced expansion of its international in-roaming service on Wi-Fi with the addition of NTT, Japan. Starhub, Singapore, already utilizes the company's Wi-Fi network across India for its customers, the company said in a filing to the Bombay Stock Exchange.

The company has been leading the growth of the Wi-Fi industry in India and has the largest Wi-Fi deployment among domestic Internet service providers ((ISPs) with over 350 hotspots. It has drawn up major plans this year to further enhance the footprint to over 1000 hotspots - bringing high-speed broadband internet more closer to the large Indian traveling population.

Software services firm focused on banking, financial services and insurance domain Hexaware Technologies gained 5.2% to Rs 118.45. It was the second biggest gainer in A group shares today. Hexaware’s consolidated net profit rose 3% to Rs 26.92 crore on 3% fall in sales to Rs 254.62 crore in Q3 September 2007 over Q2 June 2007. The results were announced on Thursday, 18 October 2007.

Optical storage media maker Moser Baer India rose 3.5% to Rs 278.60 after the company said its board has approved the move to raise Rs 400 crore ($100 million) via the company's wholly-owned photovoltaic subsidiary. It was third biggest gainer in A group shares today. The investment will be made by a consortium led by IDFC Private Equity, GIC Special Investments, CDC Group PLC and Infrastructure Development Finance Company, Moser Baer said.

The subsidiary will use the proceeds to part-finance its plans to increase capacity to 500 megawatt by 2010 - making it one of the largest players in the global photovoltaic industry.

Orchid Chemicals rose 3.49% to Rs 229.70. It was fourth biggest gainer in A group shares today. The company on Thursday, 18 October 2007 reported, 114.8% growth in net profit to Rs 63.27 crore on 20.1% growth in net sales to Rs 295.13 crore in Q2 September 2007 over Q2 September 2006.

Biscuits major Britannia Industries rose 3% to Rs 1400. It was fifth biggest gainer in A group shares today. The board of Britannia meets on 23 October 2007 to consider Q2 September 2007 results.

Posted by FR at 6:22 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.