Man Industries Shines On Plan To Buyback Equity Share - Dec 26, 2008

The company made the announcement during trading hours today, 26 December 2008. Meanwhile, the BSE Sensex was up 3.48 points, or 0.04%, to 9,572.20. On BSE, 59,777 shares were traded in the counter. The stock had an average daily volume of 58,440 shares in the past one quarter. The stock hit a high of Rs 42 and a low of Rs 39.60 so far during the day. The stock hit a 52-week high of Rs 177 on 2 January 2008 and a 52-week low of Rs 27.25 on 27 October 2008.

The small-cap stock had outperformed the market over the past one month till 24 December 2008, gaining 23.94% as compared to the Sensex's return of 7.48%. It had also outperformed the market in the past one quarter, falling 29.79% as compared to the Sensex's decline of 30.12%.

The company's current equity is Rs 26.64 crore. Face value per share is Rs 5. The current price of Rs 40.80 discounts the company's Q2 September 2008 annualized EPS of Rs 8.16, by a PE multiple of 5.

Buyback of foreign currency convertible bonds (FCCBs) will help reduce liabilities of the company. Man Industries India had raised $50 million through FCCBs in May 2007.

Earlier this month, India's central bank allowed companies to prematurely buyback FCCBs, as they were trading at a discount. The Reserve Bank of India (RBI), on 6 December 2008, said corporates could buy back their FCCBs if they use their foreign exchange reserves held in India or overseas or raise fresh external commercial borrowings (ECBs), provided there is a minimum discount of 15% on the book value of the FCCB.

Corporates could also buy back FCCBs out of rupee resources provided there is a minimum discount of 25% on the book value, the RBI said.

Man Industries India's net profit fell 42.6% to Rs 10.87 crore on 6.2% increase in net sales to Rs 376.55 crore in Q2 September 2008 over Q2 September 2007.

Man Industries India primarily operates through two divisions: Pipe Division and Aluminum Division. The company's pipe division supplies SAW line pipes and coating systems for high pressure applications like gas utilities, oil refiners, water utilities and other petroleum products. Man Industries also manufactures aluminum and aluminum products.

Sluggish Consumer Equity Spending Have Dented For Automobiles - Dec 26, 2008

The company made the announcement during trading hours today, 26 December 2008.Meanwhile, the BSE Sensex was down 99.49 points, or 1.04%, to 9,469.23.On BSE, 28,322 shares were traded in the counter. The stock had an average daily volume of 39,704 shares in the past one quarter.The stock hit a high of Rs 40.10 and a low of Rs 38.30 so far during the day. The stock hit a 52-week high of Rs 198.80 on 4 February 2008 and a 52-week low of Rs 32.90 on 20 November 2008.

The small-cap stock had outperformed the market over the past one month till 24 December 2008, gaining 7.96% as compared to the Sensex's return of 7.48%. It had underperformed the market in the past one quarter, falling 38.85% as compared to the Sensex's decline of 30.12%.The company's current equity is Rs 34.24 crore. Face value per share is Rs 10.

The company has temporarily shut down its plant at Bhandup and Nashik in Maharashtra due to avoid inventory pile-up. It has shut its Bhandup plant from 26 December 2008 to 28 December 2008, and its Nashik plant from 25 December 2008 to 31 December 2008. The plants will continue routine maintenance operations during the shut period, the company said.

High interest rates and sluggish consumer spending have dented demand for automobiles forcing many auto component makers to shut down their units to avoid inventor build up CEAT, previously Ceat Tyres, the flagship of the RPG group, manufactures steel-belted radials for passenger cars. The range of tyres manufactured is marketed under the Ceat, Samraat and Secura brand names.

CEAT reported a net loss of Rs 28.83 crore in Q2 September 2008 as against net profit of Rs 25.51 crore in Q2 September 2007. Net sales rose 14.9% to Rs 670.15 crore in Q2 September 2008 over Q2 September 2007.

Organic Coatings Moves Equity North On Hike In Stake By Promoter - Dec 26, 2008

The company announced the increase in promoters' stake during trading hours today, 26 December 2008.Meanwhile, the BSE Sensex was down 99.49 points, or 1.04%, to 9,469.23.On BSE, 1,450 shares were traded in the counter. The stock had an average daily volume of 8,231 shares in the past one quarter.The stock hit a high of Rs 10.29 and a low of Rs 9.03 so far during the day. The stock hit a 52-week high of Rs 24.55 on 1 January 2008 and a 52-week low of Rs 7.46 on 18 November 2008.

The small-cap stock had outperformed the market over the past one month till 24 December 2008, gaining 8.69% as compared to the Sensex's return of 7.48%. It had underperformed the market in the past one quarter, falling 33.76% as compared to the Sensex's decline of 30.12%.The company's current equity is Rs 5.97 crore. Face value per share is Rs 10.

The current price of Rs 10.18 discounts the company's Q2 September 2008 annualized EPS of Rs 1.74, by a PE multiple of 5.85.Rajnikant K Shah, a promoter, has hiked his stake to 11.27% in the company after acquiring 2,200 shares through open market purchases on 19 December 2008. The total promoter holding in the company stood at 42.22% as on 30 September 2008.

Organic Coatings' net profit fell 13.3% to Rs 0.26 crore on 2.9% fall in net sales to Rs 9.45 crore in Q2 September 2008 over Q2 September 2007.The company is engaged in manufacturing and marketing ink and ink products. It manufactures printing inks, acrylic polymer, resins and other ink products. The product includes printing inks and industrial coatings.

Cairn India Inches Ahead On Block Deal Equity During A Testing - Dec 26, 2008

The block deal constituted 0.05% of the company's equity.Meanwhile, the BSE Sensex was up 14.81 points, or 0.15%, to 9,583.53.On BSE, 18.10 lakh shares were traded in the counter. The stock had an average daily volume of 10.31 lakh shares in the past one quarter.The stock hit a high of Rs 163 and a low of Rs 157.05 so far during the day. The stock hit a 52-week high of Rs 342.50 on 21 May 2008 and a 52-week low of Rs 88.15 on 27 October 2008.

The large-cap stock had outperformed the market over the past one month till 24 December 2008, gaining 19.64% as compared to the Sensex's return of 7.48%. It had also outperformed the market in the past one quarter, falling 29.97% as compared to the Sensex's decline of 30.12%.The company's current equity is Rs 1896.03 crore. Face value per share is Rs 10.The current price of Rs 161 discounts the company's Q3 September 2008 annualized EPS of Rs 1.72, by a PE multiple of 93.60.

The company on 22 December 2008 said it had made an oil and gas discovery near its existing field in Rajasthan. The company said it is yet to determine the reserves but the well had a flow of 500 barrels of oil per day and 0.4 million standard cubic feet of gas a day during a testing phase.

Last month, India's cabinet rejected an oil ministry proposal to award a deepwater block off the west coast to Cairn India, as the company had not offered the government an attractive enough share of potential production, or profit petroleum.

Cairn India reported a net profit of Rs 81.44 crore in Q3 September 2008 as against net loss of Rs 8.40 crore in Q3 September 2007. Total income surged 1258.1% to Rs 107.83 crore in Q3 September 2008 over Q3 September 2007.Cairn India explores and produces crude oil and natural gas in India.

Era Infra Engineering Gains Of The Company's Current Equity Share - Dec 24, 2008

The company announced the order win after trading hours on Tuesday, 23 December 2008. Meanwhile, the BSE Sensex was down 88.93 points, or 0.92%, to 9,597.82. On BSE, 10,669 shares were traded in the counter. The stock had an average daily volume of 1.36 lakh shares in the past one quarter. The stock hit a high of Rs 71.90 and a low of Rs 70.70 so far during the day. The stock hit a 52-week high of Rs 191.40 on 28 December 2007 and a 52-week low of Rs 64 on 27 October 2008.

The mid-cap stock had underperformed the market over the past one month till 23 December 2008, falling 1.74% as compared to the Sensex's return of 8.65%. It had outperformed the market in the past one quarter, declining 28.59% as compared to the Sensex's decline of 28.62%.

The company's current equity is Rs 28.60 crore. Face value per share is Rs 2.

The current price of Rs 70.90 discounts the company's Q2 September 2008 annualized EPS of Rs 12.35, by a PE multiple of 5.74.

The company has bagged an order worth Rs 9.62 crore from Bharat Heavy Electrical (Bhel) for commissioning a boiler at one of its unit in Bhagalpur, Bihar.

Era Infra Engineering had in October 2008 bagged an order worth Rs 41.78 crore from Delhi Metro Rail Corporation.

Era Infra Engineering's net profit surged 44.3% to Rs 35.67 crore on 63.4% increase in net sales to Rs 418.96 crore in Q2 September 2008 over Q2 September 2007.

Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.

New Order Powers Bhel Of The Current Equity Share - Dec 24, 2008

Meanwhile, the BSE Sensex was down 97.32 points, or 1%, to 9,598.43. On BSE, 1.79 lakh shares were traded in the counter. The stock had an average daily volume of 5.88 lakh shares in the past one quarter. The stock hit a high of Rs 1395 and a low of Rs 1354 so far during the day. The stock hit a 52-week high of Rs 2626 on 2 January 2008 and a 52-week low of Rs 984.10 on 27 October 2008.

The large-cap stock had underperformed the market over the past one month till 23 December 2008, gaining 6.51% as compared to the Sensex's return of 8.65%. It had outperformed the market in the past one quarter, declining 16.08% as compared to the Sensex's decline of 28.62%.

The company's current equity is Rs 489.52 crore. Face value per share is Rs 10.

The current price of Rs 1382 discounts the company's Q2 September 2008 annualized EPS of Rs 50.32, by a PE multiple of 27.46.

Bharat Heavy Electricals (Bhel) will supply and install plant equipment for NTPC’s upcoming 1,000 megawatts power project in Maharashtra. The company announced the order win during trading hours today, 24 December 2008.

Bhel had in November 2008, bagged an order worth Rs 240 crore from Coastal Gujarat Power (CGPL), for manufacturing and supplying transformers to Tata Power's power project in Gujarat.

Bhel's net profit fell 10.5% to Rs 615.77 crore on 34.7% increase in net sales to Rs 5342.63 crore in Q2 September 2008 over Q2 September 2007.

Bhel is engaged in manufacturing and distributing electrical, electronic, and mechanical and nuclear power equipment.

ABG Infralogistics Speeds Up On Equity Buzz Of Stake Sale In Unit - Dec 24, 2008

Meanwhile the BSE Sensex was down 95.07 points, or 0.98%, to 9,594.79,On BSE, 7330 shares of the scrip were traded. The stock had an average daily volume of 6824 shares on BSE in past one quarter.The stock hit a high of Rs 175 and low of Rs 148.50 so far during the day. The stock had hit a 52-week high of Rs 849.90 on 3 January 2008 and a 52-week low of Rs 105.25 on 31 October 2008.

The scrip had underperformed the market over the past one month till 23 December 2008, declining 13.34% as compared to the Sensex's return of 8.65%. It also underperformed the market in the past one quarter, sliding 48.61% as compared to the Sensex's decline of 28.62%.The small-cap engineering firm has an equity capital of Rs 12.82 crore. Face value per share is Rs 10.At the current price of Rs 169.95, the scrip trades at a PE multiple of 16.71, based on Q2 September 2008 annualised EPS of Rs 10.17.

As per reports, the shipping unit of diversified French conglomerate Groupe Louis Dreyfus SA is set to buy 49% in ABG Infralogistics' bulk port handling business for Rs 90 crore. Louis Dreyfus Armateurs SA builds and operates vessels able to load dry bulk cargoes.ABG Infralogistics' net profit plunged 57.80% to Rs 3.26 crore on 51.20% rise in sales to Rs 38.14 crore in on Q2 September 2008 over on Q2 September 2007.The company provides services for execution of turnkey projects, including plant erection; hire of cranes, ports infrastructure development, heavy goods lifting and transportation.

Woes Continue For Pyramid Saimira Equity Reports Of The Open Offer - Dec 24, 2008

The Securities & Exchange Board of India (Sebi) made the clarification after trading hours on Tuesday, 23 December 2008.Meanwhile, the BSE Sensex was down 77.77 points, or 0.80%, to 9607.29On BSE, 22602 shares were traded in the counter, with pending sell orders of 98922 at lower limit. The scrip had an average daily volume of 2.26 lakh shares in the past one quarter.The stock hit a high and low of Rs 55.05 so far during the day.

The stock had a 52-week high of Rs 551 on 31 December 2007 and a 52-week low of Rs 35.30 on 2 December 2008.The stock had outperformed the market over the past one month till 23 December 2008, advancing 43.88% as compared to the Sensex's return of 8.65%. However it underperformed the market in the past one quarter, plunging 46.78% as compared to the Sensex's decline of 28.62%.

The small-cap theatre chain operator has an equity capital of Rs 28.28 crore. Face value per share is Rs 10.The current price of Rs 55.05 discounts its Q2 September 2008 annualised EPS of Rs 12.31, by a PE multiple of 4.47.

On its part, Pyramid Saimira Theatre (PSTL) has request the stock exchanges for an investigation to a forged letter it received from Sebi asking its chairman and promoter P S Saminathan to file prospectus for public announcement for open offer to acquire 20% of shareholding within 14 days at a price of Rs 250 per share, at a price 3.5 times the ruling market price. Press reports on 22 December 2008 had suggested that the Sebi vide its order dated 19 December 2008 has asked P S Saminathan, chairman and promoter of PSTL, to acquire additional 20% at a minimum price of Rs 250 per share for violating share purchase rules.

The company is also planning to launch a formal complaint with Central Bureau of Investigation (CBI) in this regard. Sebi on Tuesday said it was investing the matter and also said it is inquiring into the dealings in the scrip following press reports of the open offer.

The stock had ended 10% down at Rs 67.90 on Monday, 22 December 2008, reversing an intraday 10% rise after the company said it had not received any communication from the stock market regulator regarding an open offer. The company had also announced that Saminathan had informed the company that he did not receive any communication from Sebi regarding an open offer. The stock had plunged on huge volume of 32 lakh shares on BSE on that day, much higher than average daily volumes in the counter. It was again locked at the 10% lower circuit at Rs 61.15 on Tuesday.

Pyramid Saimira Theatre's net profit fell 42.4% to Rs 8.70 crore on a 74.9% rise in sales to Rs 252.26 crore in Q2 September 2008 over Q2 September 2007.Pyramid Saimira Theatre is focused on distribution and exhibition of films. Its objective is to have presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in tier I, II and III locations.

Bajaj Hindusthan Equity Company On Truce Between Bajaj Family - Dec 23, 2008

Meanwhile, the BSE Sensex was down 198.81 points, or 2%, to 9729.25.On BSE, 10.85 lakh shares were traded in the counter. The scrip had an average daily volume of 9.77 lakh shares in the past one quarter.The stock hit a high of Rs 64 and a low of Rs 60.50 so far during the day. The stock had a 52-week high of Rs 399.50 on 9 January 2008 and a 52-week low of Rs 38.25 on 21 November 2008.

The stock had outperformed the market over the past one month till 22 December 2008, rising 45.01% as compared to the Sensex's 11.36% rise. It had, however, underperformed the market in the past one quarter, falling 54.58% as compared to the Sensex's fall of 29.06%.The small-cap sugar and ethanol maker has an equity capital of Rs 14.14 crore. Face value per share is Rs 1.

Bajaj Hindusthan said in a statement that the Bajaj Auto chairman Rahul Bajaj will acquire a little more than 29.2% of the company's equity from group investment firms and other Bajaj family members at the market price as on 30 December 2008 and later transfer the stake, along with his 0.4% stake, to his brother Shishir Bajaj for zero consideration thus giving Shishir full control over the sugar firm. The company made the announcement after market hours yesterday, 22 December 2008.

After the transfer, Shishir Bajaj's stake will rise to 32.47% from 2.85% currently. Analysts expect this to be the first leg of the transaction. In the second, Shishir Bajaj is likely to exit from Bajaj Auto where is owns about 2%. This will pave the way for an end of the six-year old family dispute.

Bajaj Hindusthan reported a net loss of Rs 87.46 crore in Q4 September 2008 as against a net profit of Rs 90.54 crore in Q4 September 2007. Sales rose 7.1% to Rs 463.11 crore in Q4 September 2008 over Q4 September 2007.Bajaj Hindusthan manufactures sugar and ethanol. The company has ten sugar plants, which are all located in the northern Indian state of Uttar Pradesh (UP).

Hatsun Agro Strengthens Equity Company Mainly Operates In States - Dec 23, 2008

eanwhile, the BSE Sensex was down 220.13 points, or 2.22%, to 9,708.22.On BSE, 3,823 shares were traded in the counter. The stock had an average daily volume of 1,684 shares in the past one quarter.The stock hit a high of Rs 40 and a low of Rs 39.85 so far during the day. The stock hit a 52-week high of Rs 107.20 on 13 May 2008 and a 52-week low of Rs 34.55 on 2 December 2008.

The small-cap stock had underperformed the market over the past one month till 22 December 2008, declining 9.66% as compared to the Sensex's return of 11.36%. It had also underperformed the market in the past one quarter, falling 53.07% as compared to the Sensex's decline of 29.06%.

The company's current equity is Rs 6.80 crore. Face value per share is Rs 2.The current price of Rs 40 discounts the company's Q2 September 2008 annualized EPS of Rs 5.83, by a PE multiple of 6.86.The new facility will commence production in March 2009, well in time to take advantage of the peak sales in the ensuing summer. The company's existing facility is located in Red Hills, north part of Chennai, Tamil Nadu.

Hatsun Agro Product's net profit rose 16.2% to Rs 4.95 crore on 25.4% increase in net sales to Rs 262.93 crore in Q2 September 2008 over Q2 September 2007.The company is engaged in manufacturing and selling milk and milk products and ice creams. The company mainly operates in Tamil Nadu, Karnataka and West Bengal states.