Shares of Amrutanjan Healthcare Ltd rose sharply after the over-the-counter products maker said after market hours on Tuesday its board would meet on May 3 to consider a share buyback
Buy and Hold that Stock for more profit Buy for target 800 for 1st of May
Wednesday, April 27, 2011
Coal India get new Perposals
Coal India Limited (CIL) has received 27 proposals from 16 companies for getting imported coal at discounted prices, a top company official has said.
"We sought proposals from companies which are interested in supplying coal on a 10-year term basis at a discount price to meet the production-demand gap in India. We have received 27 proposals from 16 companies. Now the Request for Proposal (RFP) has been finalised," CIL chairman N.C. Jha told reporters on the sidelines of an event organised by the Indian Chamber of Commerce (ICC) here Tuesday.
"We will send the RFP to each of these companies and they have been advised to give in three weeks their proposals on quality and quantity of coal to be supplied. Once we receive that, we will finalise the contracts," he said.
Disclosing that about 70 million tonnes of stock had piled up due to transportation problems, Jha said the Indian Railways had agreed to help out by providing extra rakes.
"We have made a plan that this year will be observed as the year of coal offtake. There will be more thrust on reducing our coal stocks. Indian Railways has promised us in this regard for which we will require 191 rakes per day on the average whole year basis," he said.
When asked whether the 'Maharatna' status would help the company, the chairman said: "The status will help us. Earlier, we could invest Rs.1,000 crore for overseas acquisition, now we can spend Rs.5,000 crore. It's a good amount, particularly for overseas acquisitions and joint ventures."
"We sought proposals from companies which are interested in supplying coal on a 10-year term basis at a discount price to meet the production-demand gap in India. We have received 27 proposals from 16 companies. Now the Request for Proposal (RFP) has been finalised," CIL chairman N.C. Jha told reporters on the sidelines of an event organised by the Indian Chamber of Commerce (ICC) here Tuesday.
"We will send the RFP to each of these companies and they have been advised to give in three weeks their proposals on quality and quantity of coal to be supplied. Once we receive that, we will finalise the contracts," he said.
Disclosing that about 70 million tonnes of stock had piled up due to transportation problems, Jha said the Indian Railways had agreed to help out by providing extra rakes.
"We have made a plan that this year will be observed as the year of coal offtake. There will be more thrust on reducing our coal stocks. Indian Railways has promised us in this regard for which we will require 191 rakes per day on the average whole year basis," he said.
When asked whether the 'Maharatna' status would help the company, the chairman said: "The status will help us. Earlier, we could invest Rs.1,000 crore for overseas acquisition, now we can spend Rs.5,000 crore. It's a good amount, particularly for overseas acquisitions and joint ventures."
Sunday, April 24, 2011
Sathya Sai Baba Leaves Behind 40,000 Cr.
Sri Sathya Sai Baba , whose message of love, peace and humility, resonated with millions of people including politicians, dictators, businessmen and cricketers, breathed his last on Sunday. He was 85.
Baba, as he was popularly called, was in poor health for the past one month and died after multiple-organ failure, doctors at his home town, Puttaparthi, about four hours east of Bangalore, said.
Sai Baba leaves behind an enormous spiritual legacy, a wide network of charitable institutions, hospitals, schools, colleges, which some estimate to be worth about Rs 40,000 crore, and a void in the hearts of many people who consider him to be a living god.
"My family and I are deeply shocked to hear that Baba is not going to be with us physically to guide us....Baba brought all of us belief, an understanding of right and wrong and taught us to live peacefully with every being," KV Kamath, non-executive chairman of ICICI Bank , and one of India's most powerful bankers, said.
"I pay my tributes to Pujya Satya Sai Baba on his nirvana," Narendra Modi, the chief minister of Gujarat, tweeted. Prime minister Dr Manmohan Singh is expected to visit Puttaparthi on Monday afternoon to pay his last respects.
Thousands of devotees thronged Puttaparthi and the hospital where Baba was being treated on Sunday as news of his death of spread. Police are expecting a huge turnout on Monday and Tuesday. "We are expecting not less than 1-2 lakh people per day and have made arrangements," B Janardhan Reddy, district collector of Anantpur, told ET. The funeral will be held on Wednesday.
Puttaparthi in Andhra Pradesh's Anantpur district, owes its place in history to Baba, who transformed it from a dusty, poor hamlet and put it on the global tourist map. Today, it is a bustling town with modern colleges, hospitals, good roads, a railway station and an airport. Many people here such as middle-aged Mushtaq Ahmed, owe their well-being to Baba.
A refugee from Kashmir, Mushtaq and a group of about 100 people left the Valley in the early nineties, in search of a new home. "About 100 of us, we found a place here in Puttaparthi. We came to know of the place through newspapers," Mushtaq told ET.
"We ended up settling here after many months of searching," he added. Mushtaq and his group run shops and small businesses in Puttaparthi. "Most of our families are here and we visit the Valley more often these days," he adds. "We grew spiritually and we could feed our families," he says.
The Andhra Pradesh government has declared a three-day mourning while Anantpur will be closed on Wednesday. Sai Baba was born on November 23, 1926, in Puttaparthi, but his spiritual journey actually began 14 years later when he announced to his stunned villagers that he was the reincarnation of Sai Baba of Shirdi, who had passed away in 1918.
The story quickly became a legend and Baba acquired god-like status after he started performing miracles which drew enormous number of followers. Controversy ensued when rationalists and scientists questioned the basis of his miracles and his refusal to allow himself to be tested. An incident at his ashram when police killed four intruders into his room and a BBC documentary which alleged widespread incidents of child molestation at his ashram threatened to sully his image.
Baba, as he was popularly called, was in poor health for the past one month and died after multiple-organ failure, doctors at his home town, Puttaparthi, about four hours east of Bangalore, said.
Sai Baba leaves behind an enormous spiritual legacy, a wide network of charitable institutions, hospitals, schools, colleges, which some estimate to be worth about Rs 40,000 crore, and a void in the hearts of many people who consider him to be a living god.
"My family and I are deeply shocked to hear that Baba is not going to be with us physically to guide us....Baba brought all of us belief, an understanding of right and wrong and taught us to live peacefully with every being," KV Kamath, non-executive chairman of ICICI Bank , and one of India's most powerful bankers, said.
"I pay my tributes to Pujya Satya Sai Baba on his nirvana," Narendra Modi, the chief minister of Gujarat, tweeted. Prime minister Dr Manmohan Singh is expected to visit Puttaparthi on Monday afternoon to pay his last respects.
Thousands of devotees thronged Puttaparthi and the hospital where Baba was being treated on Sunday as news of his death of spread. Police are expecting a huge turnout on Monday and Tuesday. "We are expecting not less than 1-2 lakh people per day and have made arrangements," B Janardhan Reddy, district collector of Anantpur, told ET. The funeral will be held on Wednesday.
Puttaparthi in Andhra Pradesh's Anantpur district, owes its place in history to Baba, who transformed it from a dusty, poor hamlet and put it on the global tourist map. Today, it is a bustling town with modern colleges, hospitals, good roads, a railway station and an airport. Many people here such as middle-aged Mushtaq Ahmed, owe their well-being to Baba.
A refugee from Kashmir, Mushtaq and a group of about 100 people left the Valley in the early nineties, in search of a new home. "About 100 of us, we found a place here in Puttaparthi. We came to know of the place through newspapers," Mushtaq told ET.
"We ended up settling here after many months of searching," he added. Mushtaq and his group run shops and small businesses in Puttaparthi. "Most of our families are here and we visit the Valley more often these days," he adds. "We grew spiritually and we could feed our families," he says.
The Andhra Pradesh government has declared a three-day mourning while Anantpur will be closed on Wednesday. Sai Baba was born on November 23, 1926, in Puttaparthi, but his spiritual journey actually began 14 years later when he announced to his stunned villagers that he was the reincarnation of Sai Baba of Shirdi, who had passed away in 1918.
The story quickly became a legend and Baba acquired god-like status after he started performing miracles which drew enormous number of followers. Controversy ensued when rationalists and scientists questioned the basis of his miracles and his refusal to allow himself to be tested. An incident at his ashram when police killed four intruders into his room and a BBC documentary which alleged widespread incidents of child molestation at his ashram threatened to sully his image.
Saturday, April 23, 2011
Silver Hits a New High Crosses 70000
Silver may have broken a new barrier breaching the Rs 70,000 a kg mark for the first time on Friday, but analysts appear more bullish on gold saying that the yellow metal still has steam left to rise faster.
On Friday, silver rose by Rs 1,400 a kg to Rs 70,810 in the Mumbai market, while gold price rose marginally to Rs 21,825.
The price of the two precious metals - seen as safe havens during uncertain times - have seen a sharp surge over the last 12 months as the American and the European economies remain wobbly. In recent months, the tension in West Asia and the tsunami in Japan have only added to the gloom, prompting a rush for safer investment options. The latest spurt has been fuelled by rating agency Standard & Poor's downgrade of US debt, which rattled global investor confidence and weakened the dollar further.
"Prices will remain firm till the dollar stays weak. The dollar may remain weak this year," says Jayant Manglik, president, Religare Commodities, a brokerage firm.
In its latest report, global metals consulting firm GFMS says inflation and improved income levels are also pulling investors to the yellow metal. "Overall, we would not be surprised, therefore, to see gold break through $1,600 (an ounce) before the end of the year," last week's Gold Survey 2011 said. Within days, the metal went past the $1,500 mark.
At Thursday's international price of $1,507, gold has given a 30% return over the last 12 months, and 143% over five years. But it is no match for silver where returns have soared 155% in the past one year and nearly 300% in five years. In rupee terms, the returns are a little lower owing to the Indian currency's appreciation against the dollar.
With silver prices rising faster than gold on industrial demand and investment rush by high networth individuals, the traditional gold-silver price ratio of 55:1 has been altered. Based on Thursday's international price, the ratio is now at 32:1.
In fact the dramatic change in the ratio is one of the reasons why analysts predict a moderation in silver prices. "A correction in silver is expected faster, though it will not go back to historical levels," says Tarang Bhanushali of brokerage firm IIFL.
But analysts say that given the possibility of a further rise in prices, you must have both the metals in your portfolio. "If you have a risk appetite, go for silver. Gold is a safer option at this point of time," says Religare's Manglik.
While it is difficult to time the market, especially if you are a retail investor, the best way is to buy in small lots instead of one large outgo. And, instead of buying gold and silver in physical form that will only sit idle in your bank locker, systematic investment plans (SIPs) are a better option.
On Friday, silver rose by Rs 1,400 a kg to Rs 70,810 in the Mumbai market, while gold price rose marginally to Rs 21,825.
The price of the two precious metals - seen as safe havens during uncertain times - have seen a sharp surge over the last 12 months as the American and the European economies remain wobbly. In recent months, the tension in West Asia and the tsunami in Japan have only added to the gloom, prompting a rush for safer investment options. The latest spurt has been fuelled by rating agency Standard & Poor's downgrade of US debt, which rattled global investor confidence and weakened the dollar further.
"Prices will remain firm till the dollar stays weak. The dollar may remain weak this year," says Jayant Manglik, president, Religare Commodities, a brokerage firm.
In its latest report, global metals consulting firm GFMS says inflation and improved income levels are also pulling investors to the yellow metal. "Overall, we would not be surprised, therefore, to see gold break through $1,600 (an ounce) before the end of the year," last week's Gold Survey 2011 said. Within days, the metal went past the $1,500 mark.
At Thursday's international price of $1,507, gold has given a 30% return over the last 12 months, and 143% over five years. But it is no match for silver where returns have soared 155% in the past one year and nearly 300% in five years. In rupee terms, the returns are a little lower owing to the Indian currency's appreciation against the dollar.
With silver prices rising faster than gold on industrial demand and investment rush by high networth individuals, the traditional gold-silver price ratio of 55:1 has been altered. Based on Thursday's international price, the ratio is now at 32:1.
In fact the dramatic change in the ratio is one of the reasons why analysts predict a moderation in silver prices. "A correction in silver is expected faster, though it will not go back to historical levels," says Tarang Bhanushali of brokerage firm IIFL.
But analysts say that given the possibility of a further rise in prices, you must have both the metals in your portfolio. "If you have a risk appetite, go for silver. Gold is a safer option at this point of time," says Religare's Manglik.
While it is difficult to time the market, especially if you are a retail investor, the best way is to buy in small lots instead of one large outgo. And, instead of buying gold and silver in physical form that will only sit idle in your bank locker, systematic investment plans (SIPs) are a better option.
Friday, April 22, 2011
Reliance Industries Q-4 Results
Positive global cues pushed the Bombay Stock Exchange (BSE) Sensex 131 points ahead of the Q4 result of heavyweight Reliance Industries Ltd (RIL), although lower-than-expected TCS numbers and upward turnaround in food inflation erased initial gains.
The BSE 30-share barometer opened firm and remained positive through the day before settling at 19,602.23, up 131.25 points, or 0.67 per cent.
Sensex has gained 511.06 points, or 2.68 per cent, in three straight sessions, ahead of a long weekend starting tomorrow because of a holiday on account of Good Friday.
The NSE 50-share Nifty also improved 33.05 points, or 0.56 per cent, to 5,884.70.
Metal stocks were at the forefront after overnight smart gains due to rise in prices on the London Metal Exchange (LMEX) yesterday.
Refinery counters, too, were in keen demand ahead of RIL’s Q4 result, to be announced later on Thursday.
Bullish world markets helped the rally on local bourses. Key Asian indices from China, Hong Kong, Japan, Singapore, South Korea and Taiwan closed higher — between 0.67 per cent and 1.64 per cent — following strong rally on Wall Street yesterday.
“Markets started off in the green amid gains in the equity markets across the globe. However, key indices saw a sharp decline after the weekly inflation data dampened the sentiments,” said Amar Ambani, head of research (India private clients) at IIFL.
The Dow Jones Industrial Average and the Nasdaq Composite Index yesterday spurted 1.52 per cent and 2.10 per cent on beating market expectations by announcement of results by some companies.
European shares also showed firm trend in their afternoon deals on Thursday. The CAC was up by 0.44 per cent, the DAX by 0.66 per cent and the FTSE by 0.18 per cent.
From metal segment, Sesa Goa jumped by 4.34 per cent, Hindustan Zinc by 3.12 per cent, Hindalco by 2.92 per cent, Sterlite Ind by 2.50 per cent and Jindal Steel by 2.37 per cent, resulting the sectoral BSE-Metal index closing up 264.86 points or 1.62 per cent.
The BSE-Oil & Gas index firmed up by 130.34 points or 1.28 per cent, as RIL rose 1.39 per cent and ONGC by 3.01 per cent.
However, the BSE-CG dipped 135.07 points, or 0.98 per cent, due to a 4.38 per cent fall in BHEL and 3.48 per cent in Alstom Project.
Maruti Suzuki was the top gainer from the Sensex pack, with a gain of 3.22 per cent, followed by HDFC (2.57 per cent) and Hero Honda (2.41 per cent
The BSE 30-share barometer opened firm and remained positive through the day before settling at 19,602.23, up 131.25 points, or 0.67 per cent.
Sensex has gained 511.06 points, or 2.68 per cent, in three straight sessions, ahead of a long weekend starting tomorrow because of a holiday on account of Good Friday.
The NSE 50-share Nifty also improved 33.05 points, or 0.56 per cent, to 5,884.70.
Metal stocks were at the forefront after overnight smart gains due to rise in prices on the London Metal Exchange (LMEX) yesterday.
Refinery counters, too, were in keen demand ahead of RIL’s Q4 result, to be announced later on Thursday.
Bullish world markets helped the rally on local bourses. Key Asian indices from China, Hong Kong, Japan, Singapore, South Korea and Taiwan closed higher — between 0.67 per cent and 1.64 per cent — following strong rally on Wall Street yesterday.
“Markets started off in the green amid gains in the equity markets across the globe. However, key indices saw a sharp decline after the weekly inflation data dampened the sentiments,” said Amar Ambani, head of research (India private clients) at IIFL.
The Dow Jones Industrial Average and the Nasdaq Composite Index yesterday spurted 1.52 per cent and 2.10 per cent on beating market expectations by announcement of results by some companies.
European shares also showed firm trend in their afternoon deals on Thursday. The CAC was up by 0.44 per cent, the DAX by 0.66 per cent and the FTSE by 0.18 per cent.
From metal segment, Sesa Goa jumped by 4.34 per cent, Hindustan Zinc by 3.12 per cent, Hindalco by 2.92 per cent, Sterlite Ind by 2.50 per cent and Jindal Steel by 2.37 per cent, resulting the sectoral BSE-Metal index closing up 264.86 points or 1.62 per cent.
The BSE-Oil & Gas index firmed up by 130.34 points or 1.28 per cent, as RIL rose 1.39 per cent and ONGC by 3.01 per cent.
However, the BSE-CG dipped 135.07 points, or 0.98 per cent, due to a 4.38 per cent fall in BHEL and 3.48 per cent in Alstom Project.
Maruti Suzuki was the top gainer from the Sensex pack, with a gain of 3.22 per cent, followed by HDFC (2.57 per cent) and Hero Honda (2.41 per cent
TCS Q-4 Results
Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm reported its consolidated financial results according to Indian GAAP for the quarter and financial year ended March 31, 2011.
TCS said its revenues for Q4FY’11 rose 31.26 per cent to Rs 10,157 crore compared to Rs 7,738 crore on a year-on-year basis. The firm posted a 31.08 per cent rise in net profit at Rs 2,623 crore as against Rs 2,001 crore in the same period of last fiscal. On a quarter-on-quarter basis, it posted an 11 per cent jump in its fourth quarter net profit on the back of rising demand for outsourcing services from western clients.
TCS MD & CEO, N Chandrasekaran , said the company had seen an “all-round performance” in all the major verticals, including banking, financial services and insurances (BFSI), retail, energy & utilities, pharma & life sciences, and travel & hospitality. The firm’s full FY’11 revenue was up 24 per cent at Rs 37,325 crore compared with Rs 30,029 crore last year. FY’11 net profit went up 30 per cent to Rs 9,068 crore as compared with Rs 7000.6 crore last year.
Hindustan Zinc Results
Hindustan Zinc Ltd’s operating profit rose by 30% in the March quarter on a quarter-on-quarter (q-o-q) basis, delivering a pleasant surprise to investors. Zinc and lead prices have been firm, rising by 3.4% and 9% q-o-q, respectively. This is good, but it still does not explain the sharp jump in profits. Higher production, sales (and realizations) of silver and better operating efficiencies aided the company’s performance.
In the March quarter, the company’s zinc output rose by 8.5%, lead by 22.3% and silver by 18.5% q-o-q. Zinc output has risen due to higher capacity utilization of its new smelter. Lead output recovered after falling in the December quarter due to maintenance shutdown. It will improve further after a new lead smelter is commissioned in the current quarter. Average metal prices moved up, with zinc prices rising by about 3%, lead by 9% and silver surging by nearly 19%.
Silver is clearly driving the company’s performance. This is also because of a 41% rise in the production of lead concentrate in the March quarter. This concentrate contains silver, which also enhances realizations. In fiscal 2011 (FY11), silver’s sales rose by 58% to Rs. 544 crore and are expected to rise sharply in FY12 as well.
Hindustan Zinc’s metal output is expected to increase further in FY12. Its 1.5-million-tonne Sindesar Khurd zinc mine is expected to achieve full capacity and will exit the year with a silver production capacity of 500 tonnes.
The company’s sales in the March quarter rose by 23% q-o-q, and control over expenditure led to its operating profit margin improving by nearly 3.5 percentage points to 61%. Higher other income due to rising yields also contributed to its net profit rising by 37%.
In the March quarter, the company’s zinc output rose by 8.5%, lead by 22.3% and silver by 18.5% q-o-q. Zinc output has risen due to higher capacity utilization of its new smelter. Lead output recovered after falling in the December quarter due to maintenance shutdown. It will improve further after a new lead smelter is commissioned in the current quarter. Average metal prices moved up, with zinc prices rising by about 3%, lead by 9% and silver surging by nearly 19%.
Silver is clearly driving the company’s performance. This is also because of a 41% rise in the production of lead concentrate in the March quarter. This concentrate contains silver, which also enhances realizations. In fiscal 2011 (FY11), silver’s sales rose by 58% to Rs. 544 crore and are expected to rise sharply in FY12 as well.
Hindustan Zinc’s metal output is expected to increase further in FY12. Its 1.5-million-tonne Sindesar Khurd zinc mine is expected to achieve full capacity and will exit the year with a silver production capacity of 500 tonnes.
The company’s sales in the March quarter rose by 23% q-o-q, and control over expenditure led to its operating profit margin improving by nearly 3.5 percentage points to 61%. Higher other income due to rising yields also contributed to its net profit rising by 37%.
Subscribe to:
Posts (Atom)