Category: Breaking Corporate India Earnings News

Motilal Oswal stock was listed at Rs 970 a 17% premium to its offer price. At the current price of Rs 970, PE works to 37.30, based on the consolidated year ended March 2007 EPS of Rs 26. All the Financial Firms / Stock Broking stocks listed on the BSE had a steep jump yesterday. Book Partial profits now. Operators in this counter are strong and they will take the stock to higher orbit.

Motilal Oswal Financial Services (MOFSL) is the Motilal Oswal group’s holding company with stake in four group companies: Motilal Oswal Securities (MOSL – the stock broking arm), Motilal Oswal Commodities Brokers (MOCB – the commodity business arm), Motilal Oswal Venture Capital Advisors (MOVC – the venture capital advisory arm) and the Motilal Oswal Investment Advisors (MOIAPL – the investment banking arm).

Moser Baer India has announced the launch of its Optical Disk Drive (ODD) i.e. Combo drive and writer, which also marks the company’s foray into the PC peripherals industry. The company in partnership with Taiwan’s Philips & Lite-On Digitil Solutions tarp., the world’s largest OEM / ODM optical disc drive manufacturer has launched their ODDs in India in the name of ‘Moser Baer-Lite-on’.

Having established itself as a global leader in the high technology manufacturing space and the global blank optical storage media industry, the company is now leveraging upon its existing synergies, established brand equity and large distribution network in the domestic market to enter the PC Peripherals market.

The company brand is recognized for high quality products which the company now plans to extend into the fast growing PC Peripherals market in India, given its credibility amongst the drive manufacturers. The company plans to enter this market by launching products in five metros and create a niche for itself.

Bharat Heavy Electricals Ltd [BHEL] and NTPC have signed a MOU to form a joint venture company with the propose to work jointly to complement their respective strength and to carry out engineering procurement and construction (EPC) activities in the power sector.

Ranbaxy Laboratories has announced that the WHO, Geneva, has included three more Anti Retroviral (ARV) products of the company in its pre-qualification list taking the total to 15 ARVs.

These ARVs are made available in compliance Kit packs, designed to enhance patient compliance for medication and are the company’s latest additions to the WHO list. These packs contain two fixed dose combination tablets of lamivudine / zidovudine or lamivudine / stavudine with a single tablet of efavirenz. Among these, lamivudine / stavudine + efavirenz formulations are the first by any company on the WHO list.

Anant Raj Industries approves stock split. Each 1 equity share of Rs 10 each will be split into 5 equity shares of Rs 2 each.

IT pivotals edged lower today after data released on Friday, 7 September 2007, showed US payrolls shrank in August 2007 for the first time in four years, raising fears that the world’s largest economy was headed into a recession. IT stocks derive a large part of their revenue from the US. In the first quarter of current financial year, IT Slave Trading Companies such as Infosys and TCS who are purely dependent on currency arbitrage were hit badly due to the strengthening of Indian rupee.

The BSE IT index had underperformed the market over the last one month to 7 September 2007, declining 1.57% compared to the Sensex’s return of 3.25%. It had also underperformed the market over the past quarter, falling 6.56% compared to the Sensex’s gain of 10.85%.

The board of Lloyds Metals & Engineers approved the sub – division of existing equity capital of the company of nominal value of Rs 10 each fully paid up forming part of the subscribed and paid-up capital of the company into nominal value of Rs 2 each credited as fully paid up.

The board has approved the issue of 10,00,000 warrants convertible into equity shares of Rs 10 each to, individual non promoters on preferential basis.

The board has approved the issue of 10,00,000 warrants at a price of Rs 90 per warrant entitling the holders of warrants to apply for and obtain allotment of equity share against each warrant within a period of 18 months.

RTS Power Corporation announced before market hours today, 10 September 2007, it has got Rs 35.11-crore orders for supply of transformers, conductors and cables to power utilities.

ICRA and State Bank of India (SBI) have signed a MoU under which the company will assign ratings to the bank’s loans and its other exposures under the standardized approach of RBI’s new capital adequacy framework for Basel-II.
To assist potential and existing borrowers of SBI in obtaining ratings, ICRA is offering special terms to the clients of SBI covered by the MoU.

The MoU between ICRA and SBI seeks to deliver a number of benefits to the SBI as well its clients. For SBI, ICRA’s line of credit ratings would assist in implementing RBI’s new capital adequacy framework under Basel-II.