Showing posts with label stock News. Show all posts
Showing posts with label stock News. Show all posts
Tuesday, 7 May 2013
Rekha Rakesh Jhunjhunwala buys 25,00,000 shares of SpiceJet
Rekha Rakesh Jhunjhunwala bought 25 Lakh shares of SpiceJet at Rs 38.94 on the BSE.
In the previous trading session, the share closed at Rs 40.50, up Rs 2.45, or 6.44 percent. It has touched an intraday high of Rs 41.80 and an intraday low of Rs 37.20.
The share touched its 52-week high Rs 50.90 and 52-week low Rs 26.90 on 07 December, 2012 and 04 April, 2013, respectively. Currently, it is trading 20.43 percent below its 52-week high and 50.56 percent above its 52-week low. Market capitalisation stands at Rs 2,107.14 crore.
In the previous trading session, the share closed at Rs 40.50, up Rs 2.45, or 6.44 percent. It has touched an intraday high of Rs 41.80 and an intraday low of Rs 37.20.
VPM Electricals buys 10.85 lakh shares of Eon Electric Private ltd
VPM Electricals Private Limited bought 10,85,050 shares of Eon Electric at Rs 24.62 on the BSE.
VPM Industrial Services Corporation LLP sold 10,86,560 shares at Rs 24.62.In the previous trading session, the share closed at Rs 24.60, down Rs 0.45, or 1.80 percent. It has touched an intraday high of Rs 24.70 and an intraday low of Rs 23.10.
The share touched its 52-week high Rs 53.85 and 52-week low Rs 20.30 on 07 May, 2012 and 29 August, 2012, respectively. Currently, it is trading 54.32 percent below its 52-week high and 21.18 percent above its 52-week low. Market capitalisation stands at Rs 39.50 crore.
VPM Industrial Services Corporation LLP sold 10,86,560 shares at Rs 24.62.In the previous trading session, the share closed at Rs 24.60, down Rs 0.45, or 1.80 percent. It has touched an intraday high of Rs 24.70 and an intraday low of Rs 23.10.
The share touched its 52-week high Rs 53.85 and 52-week low Rs 20.30 on 07 May, 2012 and 29 August, 2012, respectively. Currently, it is trading 54.32 percent below its 52-week high and 21.18 percent above its 52-week low. Market capitalisation stands at Rs 39.50 crore.
Godrej Properties to mull rights issue
Godrej Properties shares gained two percent in early trade Tuesday as the board of directors of the company will be considering the issue of equity shares on rights basis on May 9.
The board will also mull and approve the audited financial results for the quarter and year ended March 31, 2013 and recommendation of dividend for the financial year ended March 31, 2013.
The board will also mull and approve the audited financial results for the quarter and year ended March 31, 2013 and recommendation of dividend for the financial year ended March 31, 2013.
Emami rises 3% on strong Q4 earnings, bonus issue
Emami Share Consolidated profit grew by 30 percent year-on-year to Rs 94 crore while sales rose over 13 percent to Rs 451 crore from Rs 398 crore, Y-o-Y.
Revenue growth was tad below street estimates of 19 percent because of 12.3 percent de-growth in international business.
Revenue growth was tad below street estimates of 19 percent because of 12.3 percent de-growth in international business.
Monday, 11 February 2013
Reliance Communications share tanks over 9%, m-cap slips Rs 1,662 cr on Q3 result
Reliance Communications scrip today tumbled over 9 per cent, wiping out Rs 1,662 crore from its market value, after the company reported 43.5 per cent fall in consolidated net profit for the October-December quarter.
After falling over 10 per cent during the day, shares of the company finally closed at Rs 80.05, down 9.14 per cent from its previous close on the BSE.
At the NSE, the scrip was down 8.80 per cent to Rs 80.30. In the process, the market capitalisation (m-cap) of the company fell by Rs 1,662 crore to Rs 16,522 crore.
"RCom Q3 FY'13 performance was below street expectations on all fronts," IndiaNivesh Research said in a report.
The company yesterday reported 43.5 per cent decline in consolidated net profit at Rs 105 crore due to refinancing of debt during the third quarter ended December 31, 2012.
However, it reported standalone net profit of Rs 110 crore for the quarter, as against a net loss of Rs 277 crore in the year-ago period
After falling over 10 per cent during the day, shares of the company finally closed at Rs 80.05, down 9.14 per cent from its previous close on the BSE.
At the NSE, the scrip was down 8.80 per cent to Rs 80.30. In the process, the market capitalisation (m-cap) of the company fell by Rs 1,662 crore to Rs 16,522 crore.
"RCom Q3 FY'13 performance was below street expectations on all fronts," IndiaNivesh Research said in a report.
The company yesterday reported 43.5 per cent decline in consolidated net profit at Rs 105 crore due to refinancing of debt during the third quarter ended December 31, 2012.
However, it reported standalone net profit of Rs 110 crore for the quarter, as against a net loss of Rs 277 crore in the year-ago period
Friday, 30 March 2012
IVRCL stock jumps 8% on takeover
On the back of media mogul Subhash Chandra's Essel Group increasing its stake in Hyderabad-based infrastructure company IVRCL to over 10% through market operations, the company's stock jumped nearly 8% in Thursday's weak market to Rs 65 on BSE. The rise in stock price is being attributed to the group's stated intentions of increasing its stake in the company.
In a statement to the bourses, IVRCL informed that its board of directors had approved the extension of its financial year 2011-12 by three months up to June 30, 2012. According to Balarami Reddy, CFO, IVRCL, the extension had been sought because the merger of IVRCL Assets & Holdings with IVRCL was still under way and would not be over before the full year financial result of IVRCL.
Currently, at 10.2%, Essel Group's holding is very close to the promoters' holding in the Rs 5,600-crore company, which is at 11.2%. Industry observers said that the chances of IVRCL changing hands are high. Himanshu Modi, head, finance and strategy, Essel Group, told ET Now, "We have clearly stated that we want to increase our stake. But it is too early to judge this as a hostile takeover." According to the new Indian takeover guidelines, the trigger limit is at 25%. Since its December 27 low at Rs 27, the IVRCL stock has gained nearly two-and-half times.
In a statement to the bourses, IVRCL informed that its board of directors had approved the extension of its financial year 2011-12 by three months up to June 30, 2012. According to Balarami Reddy, CFO, IVRCL, the extension had been sought because the merger of IVRCL Assets & Holdings with IVRCL was still under way and would not be over before the full year financial result of IVRCL.
Currently, at 10.2%, Essel Group's holding is very close to the promoters' holding in the Rs 5,600-crore company, which is at 11.2%. Industry observers said that the chances of IVRCL changing hands are high. Himanshu Modi, head, finance and strategy, Essel Group, told ET Now, "We have clearly stated that we want to increase our stake. But it is too early to judge this as a hostile takeover." According to the new Indian takeover guidelines, the trigger limit is at 25%. Since its December 27 low at Rs 27, the IVRCL stock has gained nearly two-and-half times.
Vodafone tax law unbelievable
The world's largest investment bank, on Thursday said it was "unbelievable" that India could introduce a tax law with retrospective effect.
Interacting with the who's who of India Inc at a luncheon meet in Mumbai, Blankfein said the Budget proposal to introduce a tax on offshore transactions - which would affect the Vodafone-Hutchison deal among others - could spook investors. Blankfein's is the most serious voice yet to oppose a proposal that has met with widespread criticism.
The board of Lloyd Blankfein-led Goldman Sachs was in Mumbai for its first-ever annual meeting in India.
Present at the Goldman Sachs luncheon meeting in Mumbai were Tata Group chairman-designate Cyrus Mistry, businessmen Prashant Ruia and Adi Godrej, bank CEOs Chanda Kochhar of ICICI and Shikha Sharma of Axis, and Infosys chairman K V Kamath.
After the meeting, board members met industry leaders for a sense of the economy. Speaking on the situation in the US, Blankfein said a recovery was underway; the Fed and government would need to focus on ensuring that the recovery was sustainable.
Interacting with the who's who of India Inc at a luncheon meet in Mumbai, Blankfein said the Budget proposal to introduce a tax on offshore transactions - which would affect the Vodafone-Hutchison deal among others - could spook investors. Blankfein's is the most serious voice yet to oppose a proposal that has met with widespread criticism.
The board of Lloyd Blankfein-led Goldman Sachs was in Mumbai for its first-ever annual meeting in India.
Present at the Goldman Sachs luncheon meeting in Mumbai were Tata Group chairman-designate Cyrus Mistry, businessmen Prashant Ruia and Adi Godrej, bank CEOs Chanda Kochhar of ICICI and Shikha Sharma of Axis, and Infosys chairman K V Kamath.
After the meeting, board members met industry leaders for a sense of the economy. Speaking on the situation in the US, Blankfein said a recovery was underway; the Fed and government would need to focus on ensuring that the recovery was sustainable.
Tuesday, 13 March 2012
To sell 35 mn Wipro shares to fund education
Wipro Chairman Azim Premji's The Azim Premji Trust will sell 35 million shares of the company to fund educational activities of Azim Premji Foundation, which also runs a private university in Bangalore. The shares are valued at Rs 1,530 crore ($300 million).
In a regulatory notification, the trust said the amount raised through the sale of shares would be used to scale up the foundation's activities to improve the quality and equity in school education.
The IT bellwether's shares on Tuesday were trading at Rs 430.80, down 1.35 per cent, in afternoon trade.
Business Today Feb 19 2012 Premji, who still holds 78 per cent of the Wipro's equity stock, transferred 213 million shares to the Trust in December 2010, which accounted for 8.7 per cent of the company's total shares. The shares were then valued at Rs 8,846 crore.
"The foundation is scaling up its field programmes by establishing district and state-level institutions focused on capacity building of existing functionaries in the education and development sector," the trust said in a statement.
The endowment will also use a part of the fund to scale up the university's programmes focused on research and teaching in education."In the next five years, the not-for-profit foundation aims to scale up six fold to 60 district and state-level institutions from 10, especially in the disadvantaged districts across the country," the statement noted.
Each such district, where the foundation will establish an institution will also have two 'demonstration schools'."The university will also scale up its teaching and research programmes over the next five years," the statement added.
In a regulatory notification, the trust said the amount raised through the sale of shares would be used to scale up the foundation's activities to improve the quality and equity in school education.
The IT bellwether's shares on Tuesday were trading at Rs 430.80, down 1.35 per cent, in afternoon trade.
Business Today Feb 19 2012 Premji, who still holds 78 per cent of the Wipro's equity stock, transferred 213 million shares to the Trust in December 2010, which accounted for 8.7 per cent of the company's total shares. The shares were then valued at Rs 8,846 crore.
"The foundation is scaling up its field programmes by establishing district and state-level institutions focused on capacity building of existing functionaries in the education and development sector," the trust said in a statement.
The endowment will also use a part of the fund to scale up the university's programmes focused on research and teaching in education."In the next five years, the not-for-profit foundation aims to scale up six fold to 60 district and state-level institutions from 10, especially in the disadvantaged districts across the country," the statement noted.
Each such district, where the foundation will establish an institution will also have two 'demonstration schools'."The university will also scale up its teaching and research programmes over the next five years," the statement added.
Tuesday, 6 March 2012
Alfa Laval approves delisting price at Rs 4000 per share
The parent of Alfa Laval has approved the delisting at Rs 4000 per share.
This is at a 5% premium to the Saturday's closing price. The company had given an indicative offer price of Rs 2,850 per share. So, this is at a 40% premium to the offer price.
This is also likely to surprise the street as maximum bids had come in at Rs 3,000 per share. However, at the current delisting price the company will have to shell out around Rs 820 crore as against Rs 417 crore which it had earlier set aside
This could trigger a rally in the delisting shares which has been going on in the market for some time on the back of successful delisting at a premium for Alfa Laval.
This is at a 5% premium to the Saturday's closing price. The company had given an indicative offer price of Rs 2,850 per share. So, this is at a 40% premium to the offer price.
This is also likely to surprise the street as maximum bids had come in at Rs 3,000 per share. However, at the current delisting price the company will have to shell out around Rs 820 crore as against Rs 417 crore which it had earlier set aside
This could trigger a rally in the delisting shares which has been going on in the market for some time on the back of successful delisting at a premium for Alfa Laval.
Monday, 5 March 2012
Future Buybacks company List
1. Currently, there are about 16 buybacks ongoing in the market.
2. The idea of this report is to review the status of these buybacks and try to make an assessment about how much of the buybacks are actually being done.
3. Out of the 16 buybacks which are ongoing as of now, there are only 5 buybacks in which actual bought back amount is atleast 50% of the aggregate announced buyback size.
4. In the case of remaining 11 buybacks, the actual buyback numbers as of now are quite modest in comparison to the aggregate announced buyback amounts. However, one needs to note that these buybacks have considerable time left before their closure.
5. Reliance Industries has seen actual buyback of about Rs 51.20 Crores in the first month of its buyback program, in comparison to its aggregate buyback size of about Rs 10,440 Crores. That works out to actual buyback size of about 0.49% of the aggregate buyback announced. Also, the actual buyback has happened only on 7 trading days till now. However, the company still has considerable time before the closure of their buyback program on 19th Jan 2013.
6. Similarly, modest beginnings were seen in the buybacks of Valiant Communications (1.09%), Gemini Communications (2.75%), Ansal Housing (4.50%), GEECEE (11.49%).
7. However, the companies such as Crisil and Rain Commodities were quite aggressive as they have completed almost 99.08% and 96.75% of their buybacks respectively.
8. All in all, the investors shall take cognizance of the fact that there is no mandatory requirement of the companies completing their 100% of the announced buybacks, before investing solely on the basis of the buyback announcement.
2. The idea of this report is to review the status of these buybacks and try to make an assessment about how much of the buybacks are actually being done.
3. Out of the 16 buybacks which are ongoing as of now, there are only 5 buybacks in which actual bought back amount is atleast 50% of the aggregate announced buyback size.
4. In the case of remaining 11 buybacks, the actual buyback numbers as of now are quite modest in comparison to the aggregate announced buyback amounts. However, one needs to note that these buybacks have considerable time left before their closure.
5. Reliance Industries has seen actual buyback of about Rs 51.20 Crores in the first month of its buyback program, in comparison to its aggregate buyback size of about Rs 10,440 Crores. That works out to actual buyback size of about 0.49% of the aggregate buyback announced. Also, the actual buyback has happened only on 7 trading days till now. However, the company still has considerable time before the closure of their buyback program on 19th Jan 2013.
6. Similarly, modest beginnings were seen in the buybacks of Valiant Communications (1.09%), Gemini Communications (2.75%), Ansal Housing (4.50%), GEECEE (11.49%).
7. However, the companies such as Crisil and Rain Commodities were quite aggressive as they have completed almost 99.08% and 96.75% of their buybacks respectively.
8. All in all, the investors shall take cognizance of the fact that there is no mandatory requirement of the companies completing their 100% of the announced buybacks, before investing solely on the basis of the buyback announcement.
Saturday, 3 March 2012
RIL buys 3.73% stake to EIH
EIH has touched a 52-week high of Rs 103. It has touched an intraday high of Rs 103.00 and an intraday low of Rs 90.75. The share closed at Rs 98.10, up Rs 8.40, or 9.36%.
Reliance Industries increased its stake in hospitality firm EIH to 18.53% by picking additional 2.13 crore shares worth Rs 192 crore through an open market transaction.
Reliance Industries increased its stake in hospitality firm EIH to 18.53% by picking additional 2.13 crore shares worth Rs 192 crore through an open market transaction.
Wednesday, 29 February 2012
Jet Air seeks $200mn loan from lenders
Jet Airways has sought an additional working capital loan of around $200 million from its lenders , CNBC-TV18 has learnt. The airline which has enhanced its capacities by 18% in FY12, has plans to expand its fleet size to be at par with the growing traffic.
The airline has around 100 aircraft in its fleet in which 40 are owned by it. The company has plans to lease around 10 aircraft by March. This leasing transaction will bring in the much needed working capital requirement to the airline.
Jet, however declined to comment on the story.
Jet had posted a loss of Rs 101.2 crore in Q3 of this fiscal. In April-December, 2011 its loss touched Rs 937.98 crore, against a net profit of Rs 134.15 crore in the same period last fiscal. The airline has a debt of around Rs 14,000 crore.
The airline has around 100 aircraft in its fleet in which 40 are owned by it. The company has plans to lease around 10 aircraft by March. This leasing transaction will bring in the much needed working capital requirement to the airline.
Jet, however declined to comment on the story.
Jet had posted a loss of Rs 101.2 crore in Q3 of this fiscal. In April-December, 2011 its loss touched Rs 937.98 crore, against a net profit of Rs 134.15 crore in the same period last fiscal. The airline has a debt of around Rs 14,000 crore.
Monday, 27 February 2012
SKS Micro to launch QIP by FY12-end; may raise Rs 500cr
chief financial officer of SKS Microfinance says, the company will launch qualified institutional placement (QIP) by end of this fiscal. "We would like to rasie Rs 500 crore via QIP," he adds.
we wish to complete the transaction before the end of this financial year that is March 31, 2012.
Sesa Goa merges with Sterlite at 5:3 Ratio
In a major consolidation within the $ 11.4 billion Vedanta group headed by Anil Agarwal, Sterlite Industries and iron ore miner Sesa Goa have decided to merge, creating a Rs 66,000 crore entity and also the seventh largest natural resources major in the world.
The Boards of both the companies on Saturday approved the merger of Sterlite into Sesa Goa to form a new company called Sesa Sterlite.
They also okayed the issue of 3 Sesa Goa shares for every 5 existing Sterlite shares. Simultaneously, two other group companies — Vedanta Aluminium Ltd (VAL) and Madras Aluminium Company Ltd (MALCO) — will be consolidated into Sesa Sterlite.
Post consolidation, Vedanta will own a 58.3 per cent shareholding in Sesa Sterlite. Vedanta will also transfer its 38.8 per cent direct shareholding in Cairn India to a wholly-owned subsidiary of Sesa Goa at a nominal consideration of one dollar, together with the associated acquisition debt of $5.9 billion (through the transfer of companies in which such debt and shareholdings are held).
“The debt will continue to be guaranteed by Vedanta. This transfer is not inter-conditional on the merger of Sesa, Sterlite, MALCO and VAL,” Vedanta said.
After the transfer, Sesa Sterlite will have a 58.9 per cent shareholding in Cairn India. The group’s 79.4 per cent shareholding in Konkola Copper Mines Plc will continue to be directly held by Vedanta.
As per the plan, Vedanta Aluminium and Madras Aluminium will be 100 per cent consolidated into Sesa Sterlite.
Addressing a press conference in Mumbai, Anil Agarwal, Chairman of Vedanta, said: “This transaction is a natural evolution, leading to simplification of the group’s structure. Sesa Sterlite will be the principal operating company in the group and with its high quality assets, growth projects and strong management, it is well placed to create value for all shareholders.”
The Boards of both the companies on Saturday approved the merger of Sterlite into Sesa Goa to form a new company called Sesa Sterlite.
They also okayed the issue of 3 Sesa Goa shares for every 5 existing Sterlite shares. Simultaneously, two other group companies — Vedanta Aluminium Ltd (VAL) and Madras Aluminium Company Ltd (MALCO) — will be consolidated into Sesa Sterlite.
Post consolidation, Vedanta will own a 58.3 per cent shareholding in Sesa Sterlite. Vedanta will also transfer its 38.8 per cent direct shareholding in Cairn India to a wholly-owned subsidiary of Sesa Goa at a nominal consideration of one dollar, together with the associated acquisition debt of $5.9 billion (through the transfer of companies in which such debt and shareholdings are held).
“The debt will continue to be guaranteed by Vedanta. This transfer is not inter-conditional on the merger of Sesa, Sterlite, MALCO and VAL,” Vedanta said.
After the transfer, Sesa Sterlite will have a 58.9 per cent shareholding in Cairn India. The group’s 79.4 per cent shareholding in Konkola Copper Mines Plc will continue to be directly held by Vedanta.
As per the plan, Vedanta Aluminium and Madras Aluminium will be 100 per cent consolidated into Sesa Sterlite.
Addressing a press conference in Mumbai, Anil Agarwal, Chairman of Vedanta, said: “This transaction is a natural evolution, leading to simplification of the group’s structure. Sesa Sterlite will be the principal operating company in the group and with its high quality assets, growth projects and strong management, it is well placed to create value for all shareholders.”
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