Closing Bell

BSE's benchmark Sensex on Tuesday closed at provisional 14,333.45, up 46.24 points or 0.32 per cent from the previous close. Intraday, the 30-share index touched a low of 14,161.76 and high of 14,369.59. NSE's 50-stock Nifty ended the day at provisional 4321.80, up by 8.25 points or 0.19 per cent.


3:30 pm: Ferro Alloys Corporation has recommended a final dividend of 35 per cent (Rs 0.35 per equity share of Re 1/- each) for the financial year 2007-08 in addition to interim dividend of 15 per cent declared and paid earlier taking total dividend for the year 2007-08 to 50 per cent. Further, the board have also declared interim dividend of 25 per cent (Re 0.25 per equity share of Re 1/- each) for the financial year 2008-09. The shares were down 8.24 per cent at Rs 27.30 on BSE.


3:15 pm: Skyline Millars has recommended final dividend of 10 per cent per share and also aproved sub-division of shares to Re 1 per shares subject to approval of shareholders. The shares were down 2.13 per cent at Rs 122 on BSE.


3:05 pm: Kesoram Industries has reported net profit of Rs 118.48 crore for the quarter ended Jun 30, 2008, against Rs 80.68 crore for the same quarter last year. For the same quarter net sales stood at Rs 1019.46 crore against Rs. 780.53 crore for the same quarter a year ago.


2:55 pm : Idea Cellular had approved to issue and allot 464,734,670 equity shares of Rs.10 each for cash at a price of Rs.146.96 on preferential basis. The company has now informed that: "Kindly read the Para as follows - issue and allotment of 464,734,670 equity shares of Rs.10 each for cash at a price of Rs.156.96 (including premium of Rs.146.96) on preferential basis.


2:45 pm: BEML has posted a net loss of Rs 17.43 crore for the quarter ended June 30, 2008 as compared to net profit of Rs 23.59 crore for the corresponding quarter previous year, while the total income has decreased to Rs 309.04 crore from Rs 406.96 crore earlier.


2:35 pm: Titan Industries net profit rose 154.90 per cent to Rs 32.22 crore for the quarter ended June 30, 2008 as compared to Rs 12.64 crore for the same quarter last year. Total Income has increased from Rs 658 crore for the June 2007 quarter to Rs 811.14 crore for the same quarter a year ago.


2:25 pm: Tata Communications has introduced two new Ethernet services to extend the company's industry-leading, global Wide Area Network Ethernet portfolio: Dedicated Point to Multipoint Ethernet and Dedicated Multipoint Ethernet Worldwide.


2:15 pm: Nagarjuna Construction Co. Ltd has reported net profit of Rs 37.08 crore for the quarter ended June 30, 2008 against Rs 36.03 crore in the year ago quarter. Net sales stood at Rs 970.94 crore against Rs 762.21 crore in the quarter ended June 30, 2007. Shares of the company were down 0.52 per cent at Rs 133.70 on NSE.


2:10 pm: Network 18 Fincap Ltd has reported net profit of Rs 4.57 crore for the quarter ended June 30, 2008 against a loss of Rs 6.53 crore for the corresponding quarter of 2007. Net sales for the period stood at Rs 23.28 crore against Rs 32.29 crore for the quarter ended June 30, 2007.
Shares of the company were down 0.49 per cent at Rs 171.50 on NSE.


2:00 pm: Shriram Transport Finance Company Ltd has reported 92 per cent jump in profit after tax to Rs 143.61 crore for the quarter ended June 30, 2008 from Rs 47.95 crore year earlier. Total income for the period increased to Rs 835.5 crore compared with Rs 480.41 crore in the quarter ended June 30, 2007. However, shares of the finance company were down 0.86 per cent at Rs 294.50 on BSE.


1:55 pm: Central Bank of India has reported a net profit of Rs 59.32 crore for the quarter ended June 30, 2008, down from Rs 98.35 crore in the same quarter of 2007. Total income has increased to Rs 2572.53 crore from Rs 1874.02 crore in the quarter ended June 30, 2007.

The bank's shares were down 1.51 per cent at Rs 58.80 on BSE.

1:50 pm: Bharat Forge Ltd has posted a profit after tax of Rs 26.56 crore for the quarter ended June 30, 2008, down from Rs 64.81 crore in the same quarter of 2007. This despite rise in total income to Rs 649.45 crore from Rs 516.88 crore in the quarter ended June 30, 2007.

The Group posted profit after tax and exceptional items of Rs 40.91 crore for the quarter ended June 30, 2008 against Rs 80.43 crore for the three months to June 30, 2007. Total income increased to Rs 1323.82 crore from Rs 1081.97 crore year ago.

Shares of the forging company were down 0.60 per cent at Rs 241.90 on BSE.


1:45 pm: Parsvnath Developers Ltd has posted a net profit of Rs 71.29 crore for the quarter ended June 30, 2008 compared to Rs 84.46 crore in the same quarter of 2007. Total income for the period increased to Rs 371.74 crore from Rs 356.85 crore year ago.

The Group posted a net profit of Rs 73.96 crore for the quarter ended June 30, 2008 against Rs 102.17 crore year ago. Total income decreased to Rs 380.74 crore from Rs 414.46 crore in the quarter ended June 30, 2007.

Shares of the real estate company were down 0.58 per cent at Rs 112.10 on BSE, off the high of Rs 114.70.



1:40 pm: Yes Bank Ltd has posted a net profit of Rs 54.33 crore for the quarter ended June 30, 2008, up 51 per cent compared to Rs 36.00 crore for the quarter ended June 30, 2007. Total income for the period increased to Rs 486.19 crore from Rs 348.49 crore year earlier. Shares of the private sector bank were up 1.65 per cent at Rs 129.20 on BSE. The stock had touched a high of 131.90 earlier.


1:35 pm : Victoria Mills has recommended dividend at Rs 50 per share. The company shares were 2.36 per cent to Rs 2867 on BSE.


1:30 pm: Flawless Diamond India' net profit rose 83.03 per cent to Rs 1.60 crore for the quarter ended on Jun 30, 2008 compared with Rs 87.2 lakh for the same quarter ended in 2007. Net sales increased 21.06 per cent to Rs 21.19 crore in Apr-Jun quarter of 2008 against Rs 17.50 crore in the corresponding quarter of previous year.


1:25 pm: ABC Paper has recommended payment of dividend of 7 per cent on the preference shares of Rs 10 each and 25 per cent on the equity shares of Rs 10 each for the year ended March 31, 2008. The company shares were 18.06 per cent to Rs 77.45 on BSE.


1:20 pm: Flawless Diamond India' net profit rose 72.14 per cent to Rs 7.79 crore for the quarter ended on Jun 30, 2008 compared with Rs 4.53 crore for the same quarter ended in 2007. Net sales increased 44.89 per cent to Rs 179.74 crore in Apr-Jun quarter of 2008 against Rs 124.05 crore in the corresponding quarter of previous year.


1:15 pm: Amrit Corp has recommended payment of dividend at the rate of 15 per cent on the equity shares of Rs 10 each (Rs 1.50 per equity share) for the year ended March 31, 2008.


1:10 pm: SREI Infrastructure Finance's net profit rose 38.27 per cent to Rs 32.19 crore for the quarter ended in June 30, 2008 compared with Rs 23.28 crore for the same quarter of 2008. Net sales decreased 16.30 per cent to Rs 101.57 crore in Apr-Jun quarter of 2008 against Rs 121.35 crore in the corresponding quarter of previous year.


01:00 pm: Castrol India has decided to pay an interim dividend at Rs 6 per equity share for the year ended on Dec 31, 2008. The company shares were 0.49 per cent to Rs 286.10 on BSE.


12:50 pm: Federal Bank’s net profit fell 1.81 per cent to Rs 68.15 crore for the quarter ended June 30, 2008 compared with Rs 66.94 crore for the same quarter ended in 2007. Total income increased 27.53 per cent to Rs 841.33 crore in Apr-Jun quarter of 2008 from Rs 659.70 crore in the corresponding quarter of previous year.


12:40 pm: Aishwarya Telecom has recommended 5 per cent dividend for the year 2007-08. The company shares were down 3.16 per cent to Rs 32.15 on BSE.


12:35 pm: BASF India has approved the proposal concerning setting up of compounding plant at Thane site for the engineering plastics business. The plant capacity would be 9000 TPA and the plant is expected to come on stream by the second half of 2009. the cost of the said compounding plant for the KT business is estimated at Euro 2.9 mio (INR 172 mio) and will be financed by internal accruals and borrowings.


12:30 pm: Indiabulls Real Estate shares were down 5.34 per cent to Rs 283.65 on BSE. Indiabulls Power Services, a 100 per cent subsidiary of the company, has entered into a memorandum of understanding with Madhya Pradesh government for setting up of 2640 MW power project. The Madhya Pradesh government will facilitate and extend all reasonable help and assistance to Indiabulls Power Services for setting up the aforesaid project.


12:25 pm: Shri Bajrang Alloys has recommended dividend at Rs 1 per share. The company shares were up 5.69 per cent to Rs 26.95 on BSE.


12:20 pm: Aarti Industries is a leading manufacturer of basic chemicals, speciality chemicals and pharmaceuticals. During the current year, company’s turnover jumped from Rs 194.3 crore in Q1 2007-08 to Rs 361.7 crore in Q1 2008-09 thereby posting a jump of over 85 per cent Similarly EBIDTA also increased by over 214 per cent, that is from Rs 20 8 crs in Q1 2007-08 to Rs 65 5 crore for Q1 2008-09


12:10 pm: Lupin Pharmaceuticals, Inc, US, a subsidiary Lupin has received final approval for the company’s abbreviated new drug application for divalproex sodium delayed-release tablets, 125 mg, 250 mg and 500 mg from the US Food and Drug Administration. Commercial shipments of the product have already commenced.

Lupin’s Divalproex sodium delayed-release tablets are the AB-rated generic equivalent of Abbott Laboratories’ Depakote tablets. Depakote has annual sales of $803 million for the twelve months ended March 2008, based on IMS Health sales data.


12:00 pm: EL CID Investments shares were currently trading at Rs 12 on BSE. The company has recommended dividend at Rs 10 (Previous year Rs 10) per share on 2,00,000 equity shares of Rs 10 each absorbing Rs 20 lakh


11:55 am: Lanco Infratech has reported a growth of 175.91 per cent to Rs 46.87 crore for the quarter ended June 30, 2008 compared with Rs 16.99 crore for the same quarter ended in 2007. Total income increased 242.47 per cent to Rs 537.17 crore in Apr-Jun quarter of 2008 from Rs 156.84 crore in the corresponding quarter of pervious year.


11:50 am: Facor Alloys shares were down 3.71 per cent to Rs 11.95 on BSE. The company has approved payment of interim dividend for the year 2008-09 on equity shares of Re 1 each a the rate of 15 per cent (Rs 0.15 per equity share.)


11:45 am: Triveni Engineering & Industries shares were 3.20 per cent to Rs 95.25 on BSE. The company has reported a net profit at Rs 24.60 crore for the quarter ended June 30, 2008 compared with net loss of Rs 19.97 crore for the same quarter ended in 2007. Total income increased 27.80 per cent to Rs 441.70 crore in Apr-Jun quarter of 2008 from Rs 345.61 crore in the corresponding quarter of 2008.


11:40 am: TAK Machinery & Leasing has recommended 20 per cent dividend on equity shares for the year ended March 31, 2008. The company shares were down 4.97 per cent to Rs 137.80 on BSE.


11:35 am: Spice Communications shares were down 0.07 per cent to Rs 73.75 on BSE. The company has posted a net loss to Rs 136.47 crore for the quarter ended June 30, 2008 compared with net profit of Rs 41.6 lakh for the same quarter ended in 2007. Total income increased 26.56 per cent to Rs 325.26 crore in Apr-Jun quarter of 2008 from Rs 257 crore in the corresponding quarter of previous year.


11:30 am: Dhandapani Finance shares were up 1.98 per cent to Rs 20.60 on BSE. The company has approved the issue and allotment of redeemable preference shares to Zwirn Pragati Capfin to the extent of 2,22,60,000 of Rs 10 each amounting to Rs 22.26 crore.


11:25 am: Valecha Engineering shares were up 4.59 per cent to Rs 153.80 on BSE. The company has recommended a bonus in the ratio of one share for every two shares held.


11:20 am: Indiabulls Real Estate shares were down 5.77 per cent to Rs 282.35 on BSE. The company’s net profit fell 3.88 per cent to Rs 6.80 crore for the quarter ended June 30, 2008 compared with Rs 7.08 crore for the same quarter ended in 2007. Total income increased 61.70 per cent to Rs 33.46 crore in Apr-Jun quarter of 2008 against Rs 20.69 crore in the corresponding quarter of previous year.


11:15 am: Arshiya International shares were up 4.20 per cent to Rs 174.95 on BSE. The company has approved in principle an investment to Rs 1,600 crore for the pan India Rail business in Arshiya Rail Infrastructure toward acquisition of 75 rakes, break vans, building of rail siding and other necessary infrastructure across the country.


11:10 am: Gujarat Mineral Development Corporation share’s were down 0.12 per cent to Rs 250.15 on BSE. The company's net profit rose 10.90 per cent to Rs 72.34 crore for the quarter ended June 30, 2008 compared with Rs 65.23 crore for the same quarter ended in 2007. Total income increased 24.56 per cent to Rs 286.44 crore in Apr-Jun quarter of 2008 against Rs 229.97 crore in the corresponding quarter of previous year.


11:05 am: Magnum Ventures shares were down 1.54 per cent to Rs 15.35 on BSE. With reference to the board meeting held on July 30, 2008, relating to raising of funds by means of a right issue of shares for the upcoming five star hotel project, Magnum Ventures has reported that the right issue has been decided as 1:2 (one equity share of Rs 10 each for every two equity shares held).


11:00 am: Sadhana Nitro Chem shares were up 1.65 per cent to Rs 52.50 on BSE. The company has recommended a dividend at Rs 1 (Previous year Rs 1.50) per equity share of Rs 10 each for the year ended March 31, 2008.


10:55 am: Indiaco Ventures shares were down 2.11 per cent to Rs 395 on BSE. The company has approved to the sale of investments held in the companies such as Verity Technologies and InfoDynamic Telesystems at a mutually agreed transaction price to IndiaCo Telecom , subsidiary of IndiaCo Ventures. The has also recommended for an additional investment of Rs 3.53 crore in InfoDynamic Telesystems through IndiaCo or its subsidiary Company IndiaCo Telecom.


10:50 am: Power Grid Corporation of India shares were down 0.56 per cent to Rs 97.55 on BSE. The company’s net profit fell 32.40 per cent to Rs 305.69 crore for the quarter ended June 30, 2008 as compared with Rs 452.18 crore for the same quarter ended in 2007. Total income increased 33.40 per cent to Rs 1407.91 crore in Apr-Jun quarter of 2008 against Rs 1,055.43 in the corresponding quarter of previous year.


10:45 am: Unity Infraprojects has bagged a contract valued at Rs 92 crore for construction of nine residential high-rise buildings at Hinjewadi, Pune from Flagship Infrastructure to be completed within 42 months.


10:40 am: Nissan Copper shares were up 2.13 per cent to Rs 33.50 on BSE. The company has recommended a dividend at the rate of 5 per cent on the paid-up capital (Rs 0.50 per equity share) for the financial year 2007-08.


10:35 am: Ansal Properties & Infrastructure’s net profit fell 40.47 per cent to Rs 19.40 crore for the quarter ended June 30, 2008 compared with Rs 32.59 crore for the same quarter ended in 2007. Total income increased 11.89 per cent to Rs 175.22 crore in Apr-Jun quarter of 2008 against Rs 156.60 crore in the corresponding quarter of previous year.


10:30 am: With reference to the news item appearing in a leading financial daily titled "Japan Takeda eyes Torrent Pharma".

Torrent Pharmaceuticals has denied that the promoters' intend to sell any stake to Takeda Pharmaceuticals Company, Japan. There is no move on the part of the Company or its promoters to sell stake, in part or in whole, to any player, national or global.


10:25 am: Financial Technologies India has acquired Apian Finance & Investment, a RBI Registered NBFC at a cost of Rs 1.50 crore. The company shares were down 0.29 per cent to Rs 1,482 .85 on BSE.


10:20 am: Suzlon Energy’s net profit fell 1.52 per cent to Rs 88.04 crore for the quarter ended June 30, 2008 compared with Rs 89.40 crore for the same quarter ended in 2007. Total income increased 73.40 per cent to Rs 1,496.28 crore in Apr-Jun quarter of 2008 against Rs 862.90 crore in the corresponding quarter of pervious year.


10:15 am: Avantel Softech has recommended a final dividend at the rate of 15 per cent for the financial year ended March 31, 2008. The company has also approved to change the name as Avantel Ltd. Avantel Softech shares were up 3.80 per cent to Rs 47.80 on BSE.


10:10 am: Suzlon Energy’s order book stands to Rs 16,491 crore comprising of Rs l,449 crore of domestic orders and Rs 15,042 crore of export orders.The aforesaid domestic order book position includes 55 numbers of 1500 kW Wind Turbine Generators aggregating to 82.5 MW capacity yet to be supplied to DLF Home Developers out of the total order size of 71 numbers of 1500 KW Wind Turbine Generators aggregating to 106.5 MW capacity.


10:05 am: Glodyne Technoserve has recommended a final dividend at the rate of 12 per cent on 11,015,243 equity shares of the face value of Rs 10 each. The company has also approved to increase the authorized share capital and borrowing limits. Glodyne Technoserve shares were down 1.16 per cent to Rs 471.20 on BSE.


10:00 am: Companies scheduled to announce earnings for the quarter / year ended March 31, 2008 today are --- Aditya Birla Nuvo, Adlabs Films, Amtek Auto, Apollo Hospitals Enterprise, Arivind, Bajaj Hindusthan, Balrampur Chini Mills, BASF India, BEML, Bharat Forge.


The Bombay Stock Exchange's 30-share Sensex Thursday opened at 14,359.48, up 72.27 points or 0.51 per cent from the previous day's close. The high in the few minutes of trade was 14,360.21, and low 14,205.50. National Stock Exchange's 50-stock Nifty opened at 4314.35, up 0.80 points.
thanks to :- economictimes.indiatimes.com