Month: October 2007

North India’s realty major, Parsvnath Developers records 110.05% increase in net profit at Rs 102.77 crore Consolidated Revenue at Rs 412.71 crore, an increase of 40.67%. For the quarter ended Sept-07, the company reported – Consolidated revenue at Rs 412.71 crore, an increase of 40.67% from Rs 293.34 crore, Consolidated EBIDTA at Rs 161.22 crore, up by 114.09% from Rs 75.31 crore, Consolidated PAT at Rs 102.77 crore, an increase of 110.05% from Rs 48.93 crore and an EPS (non-annualized) at Rs 5.56.

Tata Chemicals Q2 results at a glance:
Income from operations (net of excise) up 11% at Rs. 1,255 crore compared Rs. 1,126 crore. Profit from Operations improves 9% to Rs. 209 crore from Rs. 191 crore. PBT at Rs. 207 crore compared to Rs 221 crore – PBT for the quarter is lower than the corresponding quarter last year mainly because of higher dividend income and foreign exchange gain in Q2 FY07. Diluted EPS (for the quarter): Rs. 5.61

Its a very wise decision to include Idea Cellular and Cairn India Energy in the National stock exchange’s Nifty-50 index. PSU telecom giant, MTNL and oil distribution company HPCL are the outgoing stocks.

Aditya Birla group firm Idea Cellular is a wireless telecom company, operating in various states of India. Idea Cellular was the first to offer flexible tariff plans for prepaid customers.

Cairn India is oil and gas exploration and production company. Cairn UK Holdings has 68.99% in the company.

McNally Bharat Engineering Company engaged in providing turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, reported a rise in net profit of 87.5% to Rs 6 crore on 1.97% rise in sales to Rs 115.21 crore in Q2 September 2007 over Q2 September 2006.

At the current price of Rs 232.40, the scrip trades at a PE multiple of 35.53, based on Q1 June 2007 annualised EPS of Rs 6.54.

Numeric Power Systems India’s number one uninterrupted power supply (UPS) company, reported 135.50% jump in net profit to Rs 10.62 crore on 71.10% rise in net sales to Rs 101.69 crore.

The current market price of Rs 746.90 discounts its Q2 September 2007 annualised EPS of Rs 84.12 by a PE multiple of 8.87.

Housing Development Finance Corporation (HDFC) has agreed to sell 3,25,00,000 equity shares of Rs 10 each of HDFC General Insurance Company (HGICL) representing 26% of the paid-up equity capital to Ergo International Ag. Consequent to the said sale, the corporation would hold 74% of the total paid-up equity capital of HGICL.

The new partnership enables HDFC to successfully grow their existing general insurance operations and further leverage their outstanding brand and distribution strength. Entering the joint venture with HDFC underlines the ERGO Insurance.

Group’s international expansion strategy and offers a direct entry into the Indian general insurance market. Andreas Kleiner, Member of Board of ERGO International AG responsible for Asia, expects a very successful and longstanding cooperation with HDFC.

The board of Ashiana Housing has recommended an issue of bonus shares to the existing shareholders of the company by capitalization of its reserves in the ratio of 5:2 as on the record date which will be announced later.

The stock is up 5% and is currently traded at Rs 509.