Dalal Street

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.

HDFC posted 75.60% rise on net profit to Rs 646.39 crore on 51.50% rise in total income to Rs 2205.75 crore in Q2 September 2007 over Q2 September 2007. The Q2 September 2007 net profit was boosted by an exceptional item in the form of Rs 313-crore profit from sale of entire stake in BPO arm Intelenet Global Services.

Loan disbursements rose 27% to Rs 14,275 crore in Q2 September 2007 over Q2 September 2006. The loan portfolio, including loan outstandings and investments in debentures and inter-corporate deposits for financing real estate related projects rose 24% to Rs 63,446 crore in Q2 September 2007 over Q2 September 2006.

At the current price of Rs 2760, the scrip trades at a PE multiple of 29.30, based on Q2 September 2007 annualised EPS of Rs 95.21.