Category: Breaking Corporate India Earnings News

The derivative contracts in the underlying of GMR Infrastructure have crossed 95% of the market-wide position limit and are currently in the ban period on NSE.

The current market price of Rs 868 discounts its FY 2007 EPS of Rs 0.09 by a PE multiple of 9644. [Highly Overvalued Stock – SELL and Book Profits]

GMR Infrastructure reported net profit of Rs 12.37 crore on sales of Rs 22.01 crore in Q4 March 2007.

Net profit declined 91.89% to Rs 2.88 crore in the year ended March 2007 (FY 2007) as against Rs 35.55 crore in the year ended March 2006 (FY 2006). Sales slipped 41.9% to Rs 33.39 crore in FY 2007 (Rs 57.44 crore).

The company will unveil Q1 June 2007 results on 27 July 2007. Is GMR the new ENRON of India ?

Lupin has received approval from the US FDA for Abbreviated New Drug Application (ANDA) for Amlodipine Besylate tablets, 2.5 mg (base), 5 mg (base) and 10 mg (base). Commercial shipments of Amlodipine Besylate tablets will commence shortly.

The company’s Amlodipine Besylate tablets are AB-rated generic equivalent of Pfizer’s Norvasc tablets, a long-acting calcium channel blocker indicated for the treatment of hypertension. The brand product had annual sales of approximately $ 2.7 billion for the twelve months ended December 2006, based on IMS Health sales data.

Larsen & Toubro led consortium has bagged orders worth Rs 1070 crore for supply & installation of sinter plant and other packages from Tata Steel.

The company in consortium with Outotec GmbH, Germany bagged EPC (Engineering – Procurement – Construction) Contract for 5.75 MTPA Sinter Plant valued at Rs 836 crore. L&T ‘s share of this order is Rs 623.30 crore. This would be the single largest Sinter Plant to be built in India. This is scheduled for completion in 30 months.

L&T has also been awarded the contract for civil & structural steel works of steel melt shop valued at Rs 233.59 crore. This is scheduled for completion in 28 months.

The software giant has posted Q1 consolidated net profit of Rs 1202.9 crore versus Rs 1195.2 crore on QoQ basis as per Indian GAAP.

During the corresponding quarters, its consolidated revenue was up at Rs 5202.9 crore versus Rs 5162.1 crore on QoQ basis.

ADAG Group company, Reliance Communications just a while ago made an announcement to the Mumbai Stock Exchange that it has acquired Yipes Enterprise Services. goBroadband has an exclusive coverage on how the deal makes strategic sense for Reliance Communications.

Yipes is already profitable and this may mark its ambition to enter the lucrative Datacom market in the US. RCOM may also explore the opportunities in Remote Infrastructure Management a closely related area for it to operate maybe from one of its SEZs to avail tax incentives.

RCOM stock shot up 2.7% and is trading at Rs 570 on the National Stock Exchange.

Jaiprakash Associates posted 54.34% rise in net profit to Rs 140 crore in the Q1 June 2007 compared to Rs 92 crore in Q1 June 2006. Total income increased 8.76% to Rs 1,005 crore in Q1 June 2007 compared to Rs 924 crore in Q1 June 2006.

A few month back, Reserve Bank of India (RBI) had allowed foreign institutional investors (FIIs) to buy equity shares and convertible debentures of Jaiprakash Associates up to 45% of its paid-up capital.

The current market price of Rs 873.10 discounts its FY 2007 EPS of Rs 18.9, by a PE multiple of 46.19.