Jain Irrigation squeezed despite order for mango pulp

The company made this announcement during trading hours today, 27 June 2007.

The scrip had touched a high of Rs 489.80 and a low of Rs 475 so far during the day. On BSE, 17,141 shares were traded in the scrip.

The stock had average daily volume of 49,325 shares on BSE in the past one quarter.

Script closed on 475.95 at BSE, the scrip trades at a PE multiple of 32.09, based on year ended March 2007 EPS of Rs 14.80.

The Jain Irrigation scrip had gained 3.08% in the one month to 26 June 2007 versus the Sensex's 0.72% rise. It added 16.83% in the past three months against the Sensex's 12.55% rise.

The stock had hit a 52-week high of Rs 495 on 18 June 2007 and a 52-week low of Rs 195.50 on 25 July 2006.

The entire order will be processed in the current mango season, Jain Irrigation said. The company’s mango pulp business is expected to exceed a turnover of Rs 160 crore this year based on additional export orders in hand, it said.

Jain Irrigation’ net profit dipped 22.1% to Rs 25.85 crore in Q4 March 2007 as against Rs 33.19 crore in Q4 March 2006. Sales moved up 36.2% to Rs 449.39 crore in Q4 March 2007 (Rs 329.97 crore).

Net profit scaled up 35.4% to Rs 90.96 crore in the year ended March 2007 as against Rs 67.17 crore in FY 2006. Sales jumped 40.6% to Rs 1208 crore in FY 2007 (Rs 858.90 crore).

Jain Irrigation Systems’ s principal activities are to manufacture and distribute plastic sheets, irrigation systems and other agriculture related goods and components. The group operates through two divisions, high-tech agri input products and industrial products.




Securing of coal supplies fuels Tata Power's surge

The scrip touched a high of Rs 659.95 which is a record high for the scrip. It hit a low of Rs 624.05 during the day and closed on at 645.55. It had touched a 52-week low of Rs 421.10 on 26 June 2006.

The average daily volume in the stock was 2.75 lakh shares on BSE in the past one quarter.

Tata Power Company’s share price had declined from Rs 604.15 on 5 June 2007 to Rs 579.95 on 8 June 2007. It gained 9.05% from that low to settle at Rs 632.45 on 26 June 2007.

The current market price of Rs 645.55 discounts the FY 2007 EPS of Rs 51.4 (based on consolidated financial performance) by a PE multiple of 12.51.

The Tata Power stock had risen 4.7% in the past one month to 26 June 2007 versus the Sensex's 0.72% rise. It had outperformed the market in the past three months, rising 24.92% as against the Sensex's 12.55% appreciation.

Tata Power Company announced during market hours today, 27 June 2007, the completion of its acquisition of 30% equity stakes in major Indonesian thermal coal producers, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, as well as related trading companies owned by PT Bumi Resources Tbk.

To complete this acquisition, a bridge loan facility was provided by a group of banks led by Barclays Bank for $ 950-million. This bridge loan has a tenor of 1 year and is competitively priced for loans of such nature.

This bridge loan has enabled the company to become a shareholder of the coal companies quickly to help maximize shareholder value, Tata Power said.

The acquisition was made through two special purpose vehicles, one formed in Mauritius ,Tata Power (Mauritius), and the other in Cyprus Tata Power (Cyprus). The definitive agreements to purchase 30% equity stakes were signed on 30 March 2007 for $ 1.1 billion prior to working capital and other adjustments, Tata Power said.

As part of the purchase, Tata Power has signed an offtake agreement with KPC which entitles it to purchase about 10.1 million tonnes of coal per annum for an initial period upto 2021 which is extendable thereafter. This purchase supports the company's upcoming power projects on the West Coast of India comprising 7,000 meg watt (MW)to be developed over the next five years. These projects will require approximately 21 million tonnes of imported coal.

The coal companies are together among the top three largest exporters of thermal coal mines in the world. They have excellent coal export infrastructure and are strategically well placed to act as a source of supply for increasing regional demand.

On 23 April 2007, Tata Power Company announced that it acquired Coastal Gujarat Power, a special purpose vehicle (SPV) formed for the Mundra( Gujarat) ultra mega power project (UMPP).

Tata Power's net profit fell 33.20% to Rs 92.73 crore in Q4 March 2007 as against Rs 138.82 crore in Q4 March 2006. Sales declined 19.10% to Rs 947.40 crore in Q4 March 2007 (Rs 1171.10 crore).

Tata Power company’s net profit rose 14.13% to Rs 696.80 crore in the year ended 31 March 2007 (FY 2007) as against Rs 610.54 crore in FY 2006. Sales inched up 3.95% to Rs 4715.32 crore in FY 2007 (Rs 4536.32 crore).

Tata Power, promoted by the Tatas, is into the generation, transmission and distribution of power.




Singapore subsidiary order tugs and pulls Gesco

The scrip had touched a high of Rs 348 and a low of Rs 331.05 during the day and closed at 340.30. Its 52-week high was Rs 354.45 on 25 June 2007 and 52-week low Rs 185 on 19 March 2007.

The average daily volume in the stock was 2.75 lakh shares on BSE in the past one quarter.

The Great Eastern Shipping Company's (Gesco) share price had declined from Rs 301.65 on 31 May 2007 to Rs 286.75 on 8 June 2007. It gained 17.14% from that low to settle at Rs 335.90 on 26 June 2007.

The current market price of Rs 344 discounts its FY 2007 EPS of Rs 58.01 by a PE multiple of 5.93.

The Gesco stock had fallen 27.69% in the past one month to 26 June 2007 versus the Sensex's 0.72% rise. It had outperformed the market in the past three months, rising 67.07% as against the Sensex's 12.55% appreciation.

Greatship Global Offshore Services Pte, Singapore, a wholly owned subsidiary of Greatship Holdings BV, Netherlands, signed a contract for supply of two new building-anchor handling tug-cum-supply vessels (AHTSV).

Greatship Holdings BV, Netherlands is a wholly owned subsidiary of Greatship (India) (GIL). GIL is a wholly owned subsidiary of Gesco.

The latest order takes the total new building order book of GIL and its subsidiaries at 10 offshore supply vessels to be delivered over the next two years, Gesco said.

GIL is pursuing business opportunities in the offshore oil field services business. Gesco has committed to invest in GIL around Rs 590 crore towards equity contribution. Of this around Rs 305 crore has already been infused towards equity subscription at a premium of Rs 90 per share.

On 26 June 2007, Gesco had awarded convertible warrants to its promoters. The conversion price of warrants of Rs 312.75 is at a 9% discount to the current market price of Rs 344. If the entire warrants are converted into equity shares, it will result into 3.2% equity dilution.

Gesco announced on 21 June 2007 that it had signed a contract to buy a 1,47,092 dead weight tonnage (dwt) modern (double hull) Suezmax crude tanker. The ship is expected to join the cmpany's fleet during the second quarter of FY 2008 (year ended 31 March 2008). The company's current fleet of 46 ships, with an average age of 12.2 years and aggregating 3.22 million dwt, comprises 34 tankers (13 crude tankers, 19 product carriers and 2 liquefied petroleum gascarriers) and 12 dry bulk carriers.

The outstanding new building order of $239 million constitutes five product tankers, aggregating 0.33 million dwt, to be delivered at intervals during the next two years.

Gesco had signed a contract on 14 June 2007 to sell its single hull very large crude carrier (VLCC) Ardeshir H Bhiwandiwalla. The ship is scheduled to be delivered to the buyers during the third quarter of FY 2008 .

Gesco's net profit rose 31.28% to Rs 240.92 crore in Q4 March 2007 as against Rs 183.52 crore in Q4 March 2006. Sales inched up 2.92% to Rs 543.81 crore Q4 March 2007 as against Rs 528.37 crore in Q4 March 2006.

Net profit was up 5.33% to Rs 883.31 crore in the year ended March 2007 as against Rs 838.60 crore in FY 2006. Sales moved up 3.24% to Rs 1,997.51 crore in FY 2007 as against Rs 1,934.77 crore in FY 2006.

Gesco is one of India's leading shipping and offshore service provider




Jamna Auto Industries accelerates with two entities in its clutches

The company made the announcement during trading hours today, 27 June 2007.

The scrip had touched a low of Rs 43.40, intraday high of 46.10 and closed on the intraday high.

The stock had an average daily volume of 10,854 shares on BSE in the past one quarter.

At the current price of Rs 46.10, the scrip trades at a PE multiple of 51.22, based on year ended March 2007 EPS of Rs 0.90.

The Jamna Auto Industries scrip had dropped 4.56% in the one month to 26 June 2007 versus the Sensex's 0.72% return. It had fallen 2.22% in the past three months against the Sensex's 12.55% rise.

The stock had hit a 52-week high of Rs 66.55 on 20 February 2007 and a 52-week low of Rs 2.62 on 10 November 2006.

As per the merger scheme, the company would allot 1 equity share in the company for every two equity shares held in Jai Parabolic Springs. It will issue 1 equity share in the company for every two equity shares held in MAP Springs.

Jamna Auto reported net loss of Rs 7.60 crore in Q4 March 2007 compared with net profit of Rs 1.86 crore in Q4 March 2006. Sales moved up 68.8% to Rs 86.59 crore in Q4 March 2007 (Rs 51.31 crore).

Net profit scaled up 105.1% to Rs 1.60 crore in the year ended March 2007 as against Rs 0.78 crore inFY 2006. Sales jumped 54.1% to Rs 279.42 crore in FY 2007 (Rs 181.31 crore).

Jamna Auto Industries manufactures auto parts and specialises in the manufacture of laminated springs for automobiles.




Jai Parabolic Springs springs up on merger okay

The company made the announcement during trading hours today, 27 June 2007.

The scrip had hit a low of Rs 28 and high of Rs 29.50 and closed on the high.

The stock had an average daily volume of 11,212 shares on BSE in the past one quarter.

At the current price of Rs 29.50, the scrip trades at a PE multiple of 10.13, based on year ended March 2007 EPS of Rs 2.91.

The Jai Parabolic scrip had fallen 5.86% in one month to 26 June 2007 versus the Sensex's 0.72% rise. It dropped 3.44% in the past three months against the Sensex's 12.55% return.

The stock had hit a 52-week high of Rs 57.15 on 7 December 2006 and a 52-week low of Rs 25.50 on 12 June 2007.

On the other hand, Jamna Auto Industries was locked at 5% upper limit of Rs 46.10. The company's board approved to merge Jai Parabolic Springs and MAP Springs with the company.

Jamna Auto manufactures auto parts and specialises in the manufacture of laminated springs for automobiles.

The Jamna Auto scrip had dropped 4.56% in one month to 26 June 2007 versus Sensex's 0.72% rise. It had fallen 2.22% in past three months against Sensex's 12.55% rise.

As per the swap ratio, one share of Jamna Auto will be issued for every two shares held in Jai Parabolic.

Jamna Auto Industries and Jai Parabolic Springs are part of Jamna Group.

Jai Parabolic’ net profit zoomed 12,200% to Rs 2.46 crore in Q4 March 2007 from Rs 0.02 crore in Q4 March 2006. Sales moved up 1.9% to Rs 23.79 crore in Q4 March 2007 (Rs 23.35 crore).

The company reported a net profit of Rs 5.03 crore in the year ended March 2007 as against loss of Rs 0.85 crore in year ended March 2006. Sales dropped 18.2% to Rs 87.15 crore in FY 2007 compared with Rs 106.57 crore.

Jai Parabolic manufactures parabolic and tapered leaf springs. It is the sole supplier of these springs to Maruti Udyog, Bajaj Tempo, Eicher Motors, DCM Toyota, Swaraj Mazda, Mahindra Nissan, Allwyn and Tata Motors.




Patni Computer extends hand, gets a push-up

The scrip had touched a high of Rs 517.80 and a low of Rs 497 during the day and closed on 503.80. Its 52-week high was Rs 572.95 on 29 May 2007 and 52-week low Rs 251 on 21 July 2006.

The average daily volume in the stock was 1.38 lakh shares on BSE in the past one quarter.

The Patni Computer Systems' share price had declined from a recent high of Rs 561.30 on 7 June 2007 to Rs 493.50 on 25 June 2007. It rose to Rs 499.05 on 26 June 2007.

The current market price of Rs 510.95 discounts the annualised Q1 March 2007 EPS of Rs 34.60 (based on consolidated financial performance as per US GAAP) by a PE multiple of 14.76.

The stock had declined 10.7% in the past one month to 26 June 2007 versus the Sensex's 0.72% rise. It had outperformed the market in the past three months as well, rising 33.88% as against the Sensex's 12.55% appreciation.

The partnership for collaborative research activities in the medical device domain will initially focus on bio-image signal processing with an aim to develop reusable image processing libraries and explore complex algorithms in this niche area, Patni Computer Systems said. It will gradually move to other technology areas such as pattern recognition, real-time operating systems and embedded wireless devices.

For this partnership, a team from the company's product engineering services division will actively work with students pursuing their M.S Program in embedded systems design. Beyond development of technology, the partnership will enable students of I2IT gain a hands-on experience of the software industry and get a clear understanding of the process methodology including coding standards and industry domains.

Patni Computer Systems' net profit declined 6.09% to Rs 95.99 crore in Q1 March 2007 as against Rs 102.22 crore in Q4 December 2006. Sales dipped 0.49% to Rs 266.59 crore in Q1 March 2007 as compared to Rs 267.91 crore in Q4 December 2006.

The company announced on 11 June 2007 that it has formed a strategic partnership in UK with Clear Technology, a provider of software solutions for the insurance and financial services industries. Under the terms of the agreement, the company will provide process consulting and system integration services to Clear Technology. This will support clear technology in its efforts to fully capitalise on growing demand for its insurance and financial services solutions.

Patni Computer Systems provides information technology services and solutions to customers operating in various industry segments. The group operates in seven segments: insurance services, manufacturing, financial services, software vendor, product engineering services, telecom and other.





Carbon credits hardly make a difference to JSW Steel's account

The scrip had touched a high of Rs 614.50 and a low of Rs 600 during the day and closed on 603.75. Its 52-week high was Rs 645 on 30 May 2007 and 52-week low Rs 223.75 on 27 July 2006.

The average daily volume in the stock was 1.85 lakh shares on BSE in the past one quarter.

The JSW Steel share price had declined from Rs 636.30 on 29 May 2007 to Rs 554.35 on 13 June 2007. It later bounced back to Rs 607.30 on 26 June 2007.

The current market price of Rs 609.25 discounts the FY 2007 EPS of Rs 83.3 by a PE multiple of 7.31.

The stock had declined 3.18% in the past one month to 26 June 2007 versus the Sensex's 0.72% rise. It had outperformed the market in the past three months, rising 29.25% as against the Sensex's 12.55% appreciation.

JSW Steel’s net profit rose 0.63% to Rs 413.25 crore in Q4 March 2007 as against Rs 410.68 crore in Q4 March 2006. Sales surged 56.84% to Rs 2,498.54 crore in Q4 March 2007 as against Rs 1,593.02 crore in Q4 March 2006.

Net profit jumped 50.84% to Rs 1,292.00 crore in the year ended March 2007 (FY 2007) as against Rs 856.53 crore in GY 2006. Sales rose 38.27% to Rs 8594.44 crore in FY 2007 as against Rs 6215.53 crore in FY 2006.

JSW Steel had recorded a healthy growth in production in May 2007 since its hot rolled strip mill had a shutdown for modernisation in May 2006. Crude steel production rose 36% to 2.59 lakh tonnes in May 2007. Hot rolled (HR) coils production rose 537% to 2.30 lakh tonnes. Galvanised steel production rose 59% to 0.65 lakh tonnes

JSW Steel is a part of the O P Jindal Group with interests in mining, carbon steel, power and oxygen.




Return of foreign funds increases interest in IFCI

The scrip had touched a high of Rs 52.35, which is the 52-week high for the counter, during the day and closed on at 51.60. Its low was was Rs 50.10. The stock had hit a 52-week low of Rs 7.73 on 24 July 2006.

The stock had an average daily volume of 1.44 crore shares on BSE in the past one quarter.

At the current price of Rs 51.60, the scrip trades at a PE multiple of 3.66, based on year ended March 2007 EPS of Rs 14.1.

The IFCI stock had gained 6.62% in the one month to 26 June 2007 versus the Sensex's 0.72% rise. It added 55.12% in the past three months against the Sensex's 12.55% return.

IFCI reported a net profit of Rs 668.43 crore in Q4 March 2007 as against a net loss of Rs 1.11 crore in Q4 March 2006. Income from operations rose 41% to Rs 1052.62 crore.

Net profit was Rs 898.02 crore in the year ended March 2007 compared to a net loss of Rs 74.10 crore in the year ended March 2006. Income from operations rose 21% to Rs 1989.73 crore

IFCI's principal activities are project financing, providing financial services and comprehensive corporate advisory services. The company also provides equipment finance, equipment credit, equipment leasing, corporate loans, short-term loans and working capital loans to meet the specific needs of corporates.




Refinery order fires off MSK Projects

The company made the announcement during trading hours today, 27 June 2007.

The scrip had touched a high of Rs 73.70 and a low of Rs 69.80 so far during the day and closed at Rs. 71.20.

The stock had an average daily volume of 19,053 shares on BSE in the past one quarter.

At the current price of Rs 72.20, the scrip trades at a PE multiple of 11.07, based on its year ended March 2007 EPS of Rs 6.52.

The MSK Projects scrip had gained 5.37% in the one month to 26 June 2007 versus the Sensex's 0.72% rise. It added 15.49% in the past three months against the Sensex's 12.55% return.

The stock had hit a 52-week high of Rs 99.70 on 30 Novemeber 2006 and a 52-week low of Rs 49.80 on 24 July 2006.

The company has received order from Bharat Oman Refineries for civil and structural works for control room, substation, fire-station, reservoir and pump houses, pipe sleepers and associated electrical works at the crude oil terminal for its Bina refinery project at Vadinar (Gujarat).

MSK Projects’ net profit rose 13.5% to Rs 2.27 crore in Q4 March 2007 as against Rs 2 crore in Q4 March 2006). Sales moved up 134.9% to Rs 65.11 crore in Q4 March 2007 (Rs 27.72 crore).

Net profit scaled up 33.8% to Rs 10.45 crore in the year ended March 2007 as against Rs 7.81 crore in FY 2006. Sales jumped 88.4% to Rs 155.79 crore in FY 2007 (Rs 82.70 crore).

MSK Projects is an infrastructure development. Its focus is on build- operate-and- transfer (BOT) road projects.



GMR Infrastructure fortifies ahead of release of results

The scrip had touched a high of Rs 744.95 today, which is the lifetime high for the scrip. It had hit a low of Rs 687 during the day and closed at Rs. 701.25. The stock had touched a 52-week low of Rs 205 on 24 August 2006.

The current price of Rs 701.25 discounts its Q3 December 2006 annualised EPS of Rs 6.43 (based on consolidated financial performance), by a PE multiple of 109.

The average daily volume in the stock was 3.08 lakh shares on BSE in the past one quarter.

The GMR Infrastructure share price had declined from Rs 513.45 on 29 May 2007 to Rs 488.10 on 4 June 2007. It had risen 41.76% from this low to Rs 691.95 on 26 June 2007 in anticipation of good quarterly results ended March 2007. The results are to be declared on 30 June 2007.

The stock gained 37.26 % in the past one month to 26 June 2007 versus the Sensex's 0.72% rise. It had outperformed the market in the past three months as well, rising 94.67% as against the Sensex's 12.55% appreciation.

GMR had earlier announced that it would unveil financial results for the year ended 31 March 2007 on 26 June 2007. Now the declaration has been postponed to 30 June 2007.

GMR Infrastructure announced on 5 June 2007 that GMR Energy, the holding company for the GMR Group's energy business and a subsidiary of the company, had signed a memorandum of understanding (MoU) with the government of Chhattisgarh for implementation, operation and maintenance of a 1,000-mega watt (MW) coal-based, thermal power plant in Chhattisgarh.

On 28 May 2007, GMR Infrastructure had acquired 100% of the paid-up capital of GMR Aviation. GMR Aviation is engaged in rendering aviation services.

The GMR group develops projects in power, road and airport segment through GMR Infrastructure.

GMR Infrastructure's consolidated net profit rose 48.8% to Rs 53.26 crore in Q3 December 2006. Net sales surged 62% to Rs 355.43 crore.




Nagarjuna Construction's health in fine fettle on getting hospital project

The company made the announcement during trading hours today, 27 June 2007.

The scrip had touched a high of Rs 173.85 and a low of Rs 169.60 so far during the day and closed at 171.30.

The stock had an average daily volume of 2.87 lakh shares on BSE in the past one quarter.

At the current price of Rs 173, the scrip trades at a PE multiple of 27.03, based on its year ended March 2007 EPS of Rs 6.4.

The Nagarjuna Construction scrip had fallen 2.95% in the one month to 26 June 2007 versus the Sensex's 0.72% return. It added 7.58% in the past three months against the Sensex's 12.55% rise.

The stock had hit a 52-week high of Rs 236 on 4 January 2007 and a 52-week low of Rs 97.50 on 17 July 2006.

The latest order that the company has won is to construct Rajeev Gandhi University of Health Science's administrative block, medical college block, 500 bedded hospital, 250 bedded super speciality hospital and allied colleges, hostels, quarters, and buildings in Ramanagara, Bangalore. The project is to be completed within 18 months.

Nagarjuna Construction’ net profit rose 42.9% to Rs 49.93 crore in Q4 March 2007 as against Rs 34.95 crore in Q4 March 2006. Sales moved up 35.5% to Rs 867.88 crore in Q4 March 2007 (Rs 640.45 crore).

Net profit scaled up 46.2% to Rs 151.91 crore in the year ended March 2007 as against Rs 103.90 crore in FY 2006. Sales jumped 56% to Rs 2871.05 crore in FY 2007 (Rs 1840.44 crore).

Nagarjuna Construction Company’s principal activity is to construct industrial and commercial buildings, roads, bridges, underground drainage and sewerage, stadiums, flyovers, multi-storey and duplex apartments, farm and private houses.