2.66 crore shares were traded in IFCI counter on BSE today. The scrip topped volumes on BSE. The share price rose 7.43% to Rs 60.70. The stock rose for the second in a row today after reports on 2 August 2007 said Citigroup, Lehman Brothers, BNP Paribas, Deutsche Bank and Barclays are interested in buying 26% in the financial services firm.

Meanwhile, the derivative contracts in the underlying IFCI security have crossed 95% of the market-wide position limit and are currently in the ban period on NSE.

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.

Reliance Natural Resources (RNRL) clocked the second highest volume of 83.76 lakh shares on BSE. The share price rose 1.77% to Rs 43.20.

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.

Debutante Simplex Projects clocked the third highest volume of 67.19 lakh shares. The scrip settled at Rs 272.05 on BSE, at a premium of 47% over IPO price of Rs 185.

Simplex Projects IPO had received overwhelming investor response. The IPO was subscribed 85.53 times

The company’s current order book of Rs 290 crore represents two times the reported financial year ending Mach 2007 (FY 2007) revenue of Rs 135.76 crore. The schedule dates for completion of projects range from July 2007 to March 2009. Simplex posted a net profit of Rs 10.49 crore on sales of Rs 135.76 crore in the year ended March 2007.

Reliance Petroleum clocked the fourth highest volume of 42.32 lakh shares on BSE. The share price rose 3.14% to Rs 113.25.

Reliance Petroleum had announced on 16 July 2007 that it has achieved overall project progress of 65% in just 19 months since commencement of the Jamnagar, Gujarat refinery project. The refinery is well on track for completion by December 2008 it said.

Mangalore Chemicals & Fertilizers clocked the fifth highest volume of 38.30 lakh shares on BSE. The share price rose 8.39% to Rs 25.20.

Net profit of Mangalore Chemicals & Fertilizers rose 100% to Rs7.02 crore in Q1 June 2007 over Q1 June 2006. Sales rose 16.58% to Rs 333.21 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.