Category: Breaking Corporate India Earnings News

The IPO of Zylog Systems which was heavily subscribed and for which our IPO Analyst had a BUY recommendation listed on the bourses just a while ago at 25% premium. The stock is currently trading at Rs 450.

Book some profits at this level and make a total exit over Rs 500.

Federal-Mogul Goetze (India) said, that its board had revised the pricing of its rights issue to Rs 145-Rs 170 per share, from the earlier band of Rs 180-Rs 215.

The company reported a net profit of Rs 0.86 crore in Q2 June 2007 as against net loss of Rs 6.46 crore in Q2 June 2006. Sales rose 28.01% to Rs 146.58 crore in Q2 June 2007 over Q2 June 2006. The current price of Rs 151.40 discounts its Q2 June 2007 annualised EPS of Rs 1.36 by a PE multiple of 111.32.

Raj Television Network has announced that the company has launched Kalaignar TV and Raj Musix, an youth centric channel on 15 August 2007, evening.

Kalaignar TV is a general entertainment channel which will cater all sections of peoples in the society with mixed flavor of programs including movies, news, serials, children’s program etc. Raj Musix is a music channel and will consist of mainly youth generic programs.

The board of Mediaone Global Entertainment recommended the issue of bonus shares in the proportion of 5 equity shares for every 1 equity share. The board has also recommended the issue of rights shares in the proportion of 5 equity shares for every 1 equity shares of Rs 10 each at a premium of Rs 5 per share.

The board has decided to increase the authorised capital from Rs 1 crore to Rs 32 crore.

The board of Katwa Udyog has approved to change the name of the company to Jyoti Cements and Infra.

The board has also approved to make preferential allotment of 3,00,000 equity shares of Rs 10 each at a premium of Rs 15 aggregating to a sum of Rs 75,00,000 at the highest price of Rs 25 per equity share during the last 52 weeks as against the current market price of Rs 18 per share.

Further, the board has approved to seek shareholders approval to the proposed acquisition of 100% share capital of its unlisted group company Katwa Construction Company with an intention to seek eventual merger of that unlisted company with it. Katwa Construction has paid up capital of Rs 35,00,000 divided in to 35,000 equity shares of Rs 100 each. The proposed acquisition is at face value of the share.

Global investment bank Lehman Brothers has teamed up with Wadhawan group promoted HDIL to bid for the redevelopment of Asia’s largest slum, Dharavi. The project is expected to generate close to Rs 25000 crore in revenue for the Maharashtra government.

HDIL has formed a special purpose vehicle (SPV) with Lehman Brothers. HDIL will hold a majority equity stake, reports suggest.

Reportedly, the new company will bid for the redevelopment of all the five sectors of Dharavi that the government has announced to develop through a global tender process. Interested developers will be evaluated technically and financially by a committee led by the state chief secretary.

HDIL reported a net profit of Rs 202.69 crore on sales of Rs 443.28 in Q1 June 2007. HDIL mainly operated in the Mumbai region.

IVR Prime, the shady Real Estate company listed at 20% discount to its offer price. Any upward movement in the stock should be considered as an opportunity to exit.

The stock is currently trading at Rs 402, against the issue price of Rs 550.