Logix Microsystems surges on major order win in the US

Logix Microsystems rose 5% to Rs 268.80 as its US subsidiary izmocars was selected by Earnhardt Automotive Centers to develop customized online stores and internet sales solutions

The Logix Microsystems scrip had declined from Rs 219.65 on 18 May 2007 to Rs 203.60 on 24 May 2007. It increased continuously since then to Rs 256 on 1 June 2007 ahead of the announcement.

Logix Microsystems during market hours on Friday, 1 June 2007 announced that its US subsidiary izmocars was selected by Earnhardt Automotive Centers to develop customized online stores and internet sales solutions and also offer internet sales training to a number of Earnhardt's dealerships.

Earnhardt sells over 27,000 cars a year and has market dominance in the southwestern United States.

The company expects to take its customer base to well over two thousand clients for the izmocars product range by the end of the current financial year.

Meanwhile, the recent acquisition of carsite.com from Powerone Media in February 2007, has boosted Logix Microsystems' market presence as it expands into newspaper automotive portal development.

Logix Microsystems' net profit rose 3.82% to Rs 1.36 crore in Q4 March 2007 from Rs 1.31 crore in Q4 March 2006. Sales rose 36.73% to Rs 4.69 crore in Q4 March 2007 from Rs 3.43 crore in Q4 March 2006.

The net profit rose 61.39% to Rs 5.81 crore in the year ended March 2007 (FY 2007) from Rs 3.60 crore in FY 2006. Sales rose 32.92% to Rs 16.15 crore in FY 2007 from Rs 12.15 crore in FY 2006.

Logix Microsystems is a leading solution provider in the customer relationship management market space, with partnerships and alliances with leading global companies such as Siebel Systems, SAP, Oracle etc.

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Approval to set up export-oriented units lifts Ashapura Minechem

Ashapura Minechem rose 5% to Rs 291.95 on getting approval to set up 100% export oriented units

The scrip has been volatile since the past six months. It was at the peak at Rs 247.70 on 25 January 2007. It later slipped to its recent low of Rs 196.30 on 8 March 2007. The scrip recovered to reach Rs 215 on 21 March 2007. Subsequently, the scrip followed an uptrend to hover around the Rs 250 range in May 2007. The share price rose from Rs 226.90 on 22 May 2007 to Rs 292.65 on 29 May 2007. It fell since then and settled at Rs 278.05 on 1 June 2007.

Ashapura Minechem announced after market hours on Friday, 1 June 2007, that it received approval from the Development Commissioner, Kandla Special Economic Zone, Gandhidham, Kutch, to set up two 100% export oriented units (EOUs) for processed bauxite at Jamnagar. These permissions are valid upto 20 May 2012 and 16 May 2012 for the two different EOUs.

On 22 May 2007, Ashapura Minechem had approved the setting up of a wholly owned subsidiary (WoS) in Dubai, which will act a stepdown subsidiary of the company. However, there will be not outflow of funds from Ashapura Minechem to the Dubai subsidiary.

Ashapura Minechem's net profit rose 54.4% to Rs 31.63 crore in Q3 December 2006 from Rs 20.48 crore in Q3 December 2005. Sales soared 23.5% to Rs 193.04 crore in Q3 December 2007 ( Rs 156.30 crore).

Ashapura Minechem is the flagship company of the Ashapura group and well known as India’s largest mine owner and exporter of bentonite.

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Glenmark Pharma in demand on stock split proposal

Glenmark Pharmaceuticals rose 1.60% to Rs 713.60 after the company said its board will meet on 11 June 2007 to consider stock split.

On BSE, 5.79 lakh shares were traded in the scrip.

The Glenmark stock touched recent low of Rs 503 on 5 March 2007. Thereafter, it moved up 36.38% to Rs 686 on 24 April 2007. The scrip later slipped to Rs 627.55 on 15 May 2007, before bouncing back to to Rs 702.25 on 1 June 2007.

As per the media reports, Glenmark Pharma is in discussion with potential European partners for its asthma molecule Oglemilast, and with several global companies for two research molecules targeted at neuropathic pain, osteoarthritis, inflammatory and dental pain.

On 16 May 2007, Glenmark had received US FDA’s approval to market Pravastatin Sodium, oral tablets in USA. Pravastatin is a generic version of Bristol Myers Squibb brand Pravachol.

In April 2007, the company had also received approval to market a generic version of Roche's Anaprox and Naprosyn.

On 29 March 2007, Schering Corporation and MSP Singapore Company had together filed a legal suit against the Indian drug maker to disallow it from marketing a copy-cat version of Ezetimibe.

Glenmark's net profit surged 149.5% to Rs 62.56 crore in Q4 March 2007 (Rs 25.07 crore). Sales jumped 72.8% to Rs 274.79 crore Q4 March 2007 (Rs 159.01 crore).

The net profit soared 100.3% to Rs 134.80 crore in FY 2007 (Rs 67.30 crore). Sales moved up 44.3% to Rs 802.64 crore in FY 2007 (Rs 556.09 crore).

Glenmark Pharmaceuticals manufactures and sells pharmaceutical ingredients. The group also operates a research facility at Sinnar on developing formulations for India and markets across Africa, Asia, Latic America and CIS/Russia.

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Fortis Healthcare makes healthy gains on shaking hands with DLF

Fortis Healthcare jumped 5.92% to Rs 93 on reports it had entered into an agreement with DLF for floating a joint venture to set up hospitals across the country.

On NSE 30.39 lakh shares were traded in the counter.

The share price declined from Rs 100 on 9 May 2007 to Rs 90.15 on 21 May 2007. The stock showed some improvement and reached Rs 92.45 on 29 May 2007. It declined since then and settled at Rs 87.90 on 1 June 2007.

The stock made its debut on 9 May 2007, on the BSE at a discount of 2.86% at Rs 105 compared to issue price of Rs 108. The stock reached a high of Rs 109.10 and a low of Rs 97.90 before closing at Rs 100 on the day of its debut.

Fortis Healthcare had priced its 4.59-crore shares at Rs 108. The price band for the IPO was Rs 92 to Rs 110 per share. The issue, which had opened for subscription on April 16, 2007 and closed on April 20, 2007, was subscribed 2.78 times.

As per reports, Fortis Healthcare has entered into an agreement with DLF for floating a joint venture (JV) with to set up hospitals across the country with about Rs 6,200 crore of investments.

Fortis will have a majority holding with 74% stake and the rest will be with DLF in the proposed joint venture. As per the reports, agreement for the proposed JV has already been signed.

The JV plans to set up a chain of 200-450 bed hospitals in 31 cities in India within three to five years. While the joint venture will mark DLF's foray into the healthcare segment, for Fortis the move is a part of its strategy to become a pan India player in the healthcare segment and resolve real estate problems for setting up new hospitals. The planned investment of Rs 6,200 crore would go toward meeting cost of land, construction and medical equipment. The JV plans to build hospitals in cities where DLF has a presence.

Earlier on 21 May 2007 Fortis Healthcare had announced that Dr. Naresh Trehan, one of the senior doctors of Escorts Heart Institute and Research Centre Ltd (EHIRCL), a subsidiary of the company, has ceased to be associated with EHIRCL.

The company reported a massive net loss of Rs 74.58 crore on sales of Rs 376.59 crore in nine months ended December 2006.

Fortis Healthcare is engaged in providing the latest in internationally recognised medical care to patients with a variety of ailments and medical conditions.

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GTL advances on probable exit from IT division

GTL added 1.33% to Rs 213.76 on reports France Telecom has initiated talks with GTL to acquire later's two units.

On NSE, 34.30 lakh shares were traded in the scrip.

The GTL scrip touched its recent low of Rs 130.35 on 14 March 2007, since then the scrip has gained 40.92% to Rs 183.70 on 26 April 2007. The later slipped to Rs 171.55 on 8 May 2007. Thereafter, it touched its recent high of Rs 210.60 on 1 June 2007.

As per reports, France Telecom is in exclusive discussions to GTL's acquire two units in the information technology and telecom network management segment.

France Telecom ranks third as mobile operator and first as provider of broadband Internet services in Europe and a leading global telecom service provider. Orange Business Services represents the business communications solutions and services provided by the group including converged voice, data & mobile services and IT expertise and managed services.

As per reports, the acquisition of GTL’s IT businesses would cost France Telecom about Rs 250-300 crore.

GTL had recently put its IT business on the block after deciding to focus on the core business of network services. The IT business currently contributes 20-25% to the Rs 1156-crore company's revenues. The IT division provides managed services, enterprise management solutions and networking services.

On 25 April 2007, GTL's board recommended buy back of shares at Rs. 300 per share, which aggregated to Rs. 275 crore.

GTL's net profit surged 425.5% to Rs 25.54 crore the quarter ended March 2007 (Rs 4.86 crore). Sales jumped 151.1% to Rs 329.71 crore in Q3 March 2007 (Rs 131.32 crore).

GTL provides network engineering and customer management solutions. The products and services range from building complex voice and data networks to highend turnkey telecom networks for service providers and utilities in India and abroad.

The group operates in the United States, the United Kingdom, Germany, Singapore, Middle East, Mauritius, New Zealand and Australia.

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Mcleod Russell India loses sheen as net loss widens in Q4 March 2007

Mcleod Russel India declined 0.77% to Rs 64.75 on reporting a massive net loss of Rs 75.43 crore in Q4 March 2007.

On NSE 12.19 lakh shares were traded in the counter

The Mcleod Russell share price fell from the recent high of Rs 74.10 on 4 May 2007 to Rs 60.45 on 24 May 2007. It gained some ground after that and settled to Rs 65.40 on 1 June 2007.

Mcleod Russel India reported net loss of Rs 75.43 crore in Q4 March 2007 as against net loss of Rs 45.14 crore in Q4 March 2006. Sales rose 49.35% to Rs 172.84 crore in Q4 March 2007 as against Rs 115.73 crore in Q4 March 2006.

The net profit rose 107.11% to Rs 47.47 crore in the year ended March 2007 (FY 2007) as against Rs 22.92 crore in FY 2006. Sales rose 18.59% to Rs 606.61 crore in FY 2007 from Rs 511.52 crore in FY 2006.

Earlier on 9 May 2007, the company had announced that, the Hon'ble high court at Calcutta had sanctioned the scheme of amalgamation of Doom Dooma Tea Company with Mcleod Russel with effect from April 01, 2006.

McLeod Russel India produces tea in India. The company offers its products under the Williamson and WN brand names.

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Greenply Industries gains on good Q4 numbers

Greenply Industries gained 3.05% to Rs 141.70 after the plywood maker reported a 78% jump in net profit in Q4 March 2007.

The company announced the results during market hours today, 4 June 2007.

On BSE, 51,988 shares were traded in the scrip.

The scrip was volatile between February 2007 and May 2007. It was at Rs 130.15 on 2 February 2007. From that high, it slumped to Rs 105.60 on 23 February 2007. The stock recovered back at Rs 125.45 on 27 April 2007. Thereafter, it rose further to trade at Rs 135 mark in May 2007.

Greenply Industries’ net profit jumped 78.25% to Rs 6.72 crore in Q4 March 2007 from Rs 3.77 crore in Q4 March 2006. Sales moved up 51.62% to Rs 110.61 crore in Q4 March 2007 from Rs 72.95 crore in Q4 March 2006.

The net profit rose 59.83% to Rs 22.52 crore in FY 2007 as against Rs 14.09 crore FY 2006. Sales rose 40.30% to Rs 392.20 crore in FY 2007 from Rs 279.54 crore in FY 2006.

Greenply Industries is a Rs. 300 crore, interior infrastructure company. It is a leader in the plywood and laminate industry in India. Greenply accounts for 23% of its organized plywood and 13% of its organized laminate market.