HDFC Bank - Allotment Of Equity Shares - Nov 08, 2008

HDFC Bank Ltd has informed that the Investor Grievance (Share) Committee of the Bank at its meeting held on November 07, 2008, has approved allotment of 15,400 equity shares to the employees of the Bank under the Employees Stock Option Scheme (ESOS).

Neelkanth Rockminerals Equity Shareholders Approve - Nov 08, 2008

Neelkanth Rockminerals Ltd has informed that the equity shareholders of the Company at its Court Convened Meeting held on October 25, 2008 has approved the arrangement embodied in the proposed Scheme of Amalgamation between the Company and V-Tex Overseas Pvt. Ltd with the requisite majority without any modification.

Hindalco In Spotlight On Clearing Bridge Loan - Nov 07, 2008

On BSE, 34.93 lakh shares were traded in the scrip. The stock hit a high of Rs 63.85 and a low of Rs 55.20 so far during the day.Hindalco had hit a 52-week high of Rs 223.30 on 15 November 2008 and a low of Rs 38.05 on 27 October 2008.Hindalco has reportedly raised $982 million in a foreign currency loan and used it to clear the bridge loan taken for its 2007 acquisition of Canadian firm Novelis.

The five-year loan was raised at 315 basis points above the London Inter Bank Offered Rate (LIBOR).The company had taken a $3.03 billion bridge loan at a rate of 80 basis points over LIBOR to fund the deal last year. The bridge loan was fully repaid on Thursday, 6 November 2008.

Hindalco had raised about Rs 4400 crore through a rights issue last month, although much of that had to be covered by the firm's promoters and underwriters after falling stocks prices undermined investor interest.The company also had about Rs 5300 crore of funds from its treasury operations, the reports added.

Meanwhile, Kumar Mangalam Birla, chairman, Aditya Birla Group said in a television interview today said that Hindalco's Rs 5,047 crore rights issue was priced far below its intrinsic value.

Roman Tarmat Builds On New Order Win Trading - Nov 07, 2008

The company made this announcement during trading hours today, 7 November 2008.eanwhile, the BSE Sensex was up 229.70 points, or 2.36%, to 9,963.92.On BSE, 9,819 shares were traded in the counter. The stock had an average daily volume of 20,065 shares in the past one quarter.The stock hit a high of Rs 25.65 and a low of Rs 23.05 so far during the day.

The stock has a 52-week high of Rs 229.90 on 12 December 2007 and a 52-week low of Rs 22.05 on 28 October 2008.The small-cap stock had underperformed the market over the past one month till 6 November 2008, declining 23.82% as compared to the Sensex�s decline of 17.52%. It had also underperformed the market in the past one quarter, declining 52.24% as compared to the Sensex�s decline of 35.42%.

The company�s current equity is Rs 10.96 crore. Face value per share is Rs 10.The current price of Rs 25.50 discounts the company�s Q2 September 2008 annualized EPS of Rs 3.28, by a PE multiple of 7.77.

Roman Tarmat has bagged orders worth Rs 44.20 crore from Cochin International Airport for up gradation of runways at Cochin International Airport, Nedumbassery in Cochin.

Roman Tarmat reported a net profit of Rs 0.90 crore in Q2 September 2008 as compared to net loss of Rs 0.55 crore in Q2 September 2007. Net sales rose 4.3% to Rs 18.72 crore in Q2 September 2008 over Q2 September 2007.

The company provides engineering, procurement and construction services for infrastructure projects. The services include construction of airside works, highways, roads and other civil work.

Vinay Cements Delisting Of Equity Shares - Nov 07, 2008

With reference to earlier annoucement dated March 25, 2008 regarding Outcome of Board Meeting, Vinay Cements Ltd has informed that the Company has appointed Srei Capital Markets Ltd as the Manager for the proposed delisting of equity shares of the Company from all stock exchanges including Bombay Stock Exchange Ltd in accordance with the SEBI (Delisting of Securities) Guidelines, 2003. The said delisting is subject to receipt of necessary approvals of shareholders, lenders and other regulatory authorities.

Western India Shipyard - Allotment Of Equity Shares - Nov 07, 2008

Western India Shipyard Ltd has informed that the Company has allotted 37,20,500 Equity Shares to the Administrator of the Specified Undertaking of the Unit Trust of India of Rs 2/- each at a premium of Rs 10.39 paise per share.The same was approved by circular resolution passed by the majority of the Directors on the Board on November 06, 2008.

Tata Motors Skids On Plant Shutdown Decision - Nov 06, 2008

Meanwhile, the BSE Sensex was down 282.49 points, or 2.79%, to 9,837.52.On BSE, 2.06 lakh shares were traded in the counter. The stock had an average daily volume of 3.64 lakh shares in the past one quarter.The stock hit a high of Rs 175 and a low of Rs 164 so far during the day. The stock has a 52-week high of Rs 790.24 on 3 January 2008 and a 52-week low of Rs 133 on 27 October 2008.

The mid-cap stock had underperformed the market over the past one month till 5 November 2008, declining 45.21% as compared to the Sensex’s decline of 19.21%. It had also underperformed the market in the past one quarter, declining 54.26% as compared to the Sensex’s decline of 32.36%.

The company’s current equity is Rs 514.29 crore. Face value per share is Rs 10.

The current price of Rs 167.70 discounts the company’s Q2 September 2008 annualized EPS of Rs 35.99, by a PE multiple of 4.66.Tata Motors has decided to shut its Jamshedpur plant for three days from 6 November 2008 to 8 November 2008 to match production with demand of vehicles produced at the plant. The block closure is to avoid build-up of inventory.

About 95% of commercial vehicles are purchased through financing and unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases. Tata Motors reported 29% decline in commercial vehicles sales to 19,154 units in October 2008 over October 2007. Tata Motors commands a share of 64% in this segment, according to figures provided by the Society of Indian Automobile Manufacturers (Siam).

Tata Motors' twin rights issue, which ended on 20 October 2008, struggled to raise funds from investors and was later bailed out by the promoters and underwriters. The rights issue was to raise Rs 4,200 crore to part-finance the bridge loan to fund the $2.3-billion Jaguar Land Rover deal.

Tata Motors’ net profit fell 34.1% to Rs 346.99 crore on 6.6% increase in net sales to Rs 7029.33 crore in Q2 September 2008 over Q2 September 2007. The results were announced on 31 October 2008.

Tata Motors is engaged in manufacturing and marketing heavy, medium and light commercial vehicles, utility vehicles and passenger cars.

Investors From Bank Shares Frontline Counters - Nov 06, 2008

The BSE Sensex was down 362.83 points, or 3.59%, to 9,757.18.State Bank of India (down 4.61% to Rs 1214.95), HDFC Bank (down 2.50% to Rs 1067.10), and ICICI Bank (down 3.41% to Rs 436.25), slipped among the frontline banking counters.

Among the mid-cap banking shares, Federal Bank (down 4.50% to Rs 141.20), Kotak Mahindra Bank (down 1.26% to Rs 422.85), Bank of India (down 5.57% to Rs 261), Bank of Baroda (down 2.80% to Rs 272.25), Punjab National Bank (down 1.69% to Rs 483.50) and Axis Bank (down 4.36% to Rs 577.50) edged lower.

The BSE Bankex outperformed the market over the past one month till 5 November 2008, declining 12.37% compared to the Sensex's declined of 19.21%. It had also underperformed the market in the past one quarter, declining 21.95% compared to Sensex's decline of 32.36%.

State-run banks have decided to cut lending rates after the central bank's liquidity boosting measures announced late last week. Bhatt said State Bank of India will announce a 75 basis point cut in its prime lending rate later today.

Corporation Bank has cut its benchmark prime-lending rate by 75 basis points to 13.25% with effect from 10 November 2008.

Bank of India announced the cut on its prime-lending rate by 75 basis points to 13.25% with effect from 6 November 2008. The bank also plans to cut the interest rates on deposits by 50 basis points across all maturities with effect from 1 December 2008, which will help reduce cost of funds.

Punjab National Bank (PNB) cut its benchmark prime-lending rate (BPLR) by 50 basis points to 13.50% with effect from 1 November 2008. The Bank also decided to reduce the peak rates of deposits from 10.5% to 10% with effect from 1 December 2008.

The Reserve Bank of India (RBI) on Saturday, 1 November 2008, unexpectedly cut its repo rate or main short-term lending rate by 50 basis points to 7.5% and banks' cash reserve ratio (CRR) by 100 basis points to 5.5%. The RBI also cut banks' statutory liquidity ratio (SLR) by 100 bps to 24% of their deposits with effect from 8 November 2008.

Kotak Mahindra Bank - Allotment Of Equity Shares - Nov 06, 2008

Kotak Mahindra Bank Ltd has informed that the ESOP Allotment Committee of the Bank at its Meeting held on October 31, 2008, has allotted 6,000 equity shares of Rs 10/- each, pursuant to exercise of Employee Stock Option as under:
ESOP Scheme Series 2005/01 : 180 equity shares
ESOP Scheme Series 2005/02 : 5,400 equity shares
ESOP Scheme Series 2007/02 : 420 equity shares.

Listing Of Equity Shares Of Alkali Metals Ltd - Nov 06, 2008

Trading Members of the Exchange are hereby informed that effective from November 06, 2008, the equity shares of Alkali Metals Ltd (Scrip Code: 533029) are listed and admitted to dealings on the Exchange in the list of B Group Securities. For further details please refer to the notice no 20081031-19 dated October 31, 2008.