Seven fertiliser shares rose between 3.24% and 14.53% on reports that the government has provided fertiliser subsidy of Rs 95000 crore for 2008/09, much higher from earlier budget estimates of Rs 31000 crore.
Tata Chemicals (up 4.29% to Rs 395.10), Nagarjuna Fertilisers and Chemicals (up 2.74% to Rs 46.80), Rashtriya Chemicals and Fertilisers (up 3.90% to Rs 70.55), Chambal Fertilisers and Chemicals (up 3.60% to Rs 79.15), Gujarat State Fertiliser Corporation (up 6.11% to Rs 176.25), Zuari Industries (up 3.24% to Rs 235.55), and National Fertiliser (up 14.53% to Rs 54.40), advanced.
Chambal Fertilisers and Chemicals clocked volumes of 59.20 lakh shares, Nagarjuna Fertilisers saw volumes of 28.30 lakh shares while 3.44 lakh shares changed hands on the Rashtriya Chemicals and Fertilisers counter on BSE.
Fertiliser shares had risen in a weak market yesterday, 27 May 2008, when the news of higher subsidy hit the market during trading hours. On that day, Nagarjuna Fertilisers and Chemicals rose 2.36% to Rs 45.55, Rashtriya Chemicals and Fertilisers gained 1.04% to Rs 67.90, and Chambal Fertilisers and Chemicals jumped 6.85% to Rs 76.40
The substantially higher subsidy bill is a part of the strategy of the government to safeguard farmers from sharp price spiral for both raw materials and finished fertilisers in the global market.
Meanwhile, the government's new fertiliser investment policy is likely to be finalised in the next two to three weeks. The new policy will aim at linking production cost of new fertiliser units to the international prices, in order to encourage fresh investments in the sector.
Wednesday, May 28, 2008
Robust quarterly earnings propel Neyveli Lignite Corporation
Neyveli Lignite Corporation jumped 6.51% to Rs 148 at 9:56 IST on BSE after reporting 1357.10% surge in net profit to Rs 384.68 crore on 128.9% jump in net sales to Rs 801.74 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results after trading hours on Tuesday, 27 May 2008.
Meanwhile, the BSE Sensex was up 84.87 points, or 0.52%, to 16,360.46.
On BSE, 49,343 shares were traded in the counter. The scrip had an average daily volume of 11.09 lakh shares in the past one quarter.
The stock hit a high of Rs 148 and a low of Rs 142.10 so far during the day. The stock had a 52-week high of Rs 273.90 on 4 January 2008 and the stock hit a 52-week low of Rs 58.85 on 12 June 2007.
The mid-cap company had underperformed the market over the past one month till 27 May 2008, declining 5.99% compared to the Sensex’s decline of 4.35%. It had also underperformed the market in the past one quarter, declining 10.70% compared to Sensex’s decline of 8.70%.
The company’s current equity is Rs 1677.71 crore. Face value per share is Rs 10.
The current price of Rs 148 discounts its Q4 March 2008 annualised EPS of Rs 9.17, by a PE multiple of 16.14.
Neyveli Lignite Corporation (NLC)’s net profit surged 94.36% to Rs 1101.57 crore on 34.48% rise in total income to Rs 3638.07 crore in the year ended March 2008 over the year ended March 2007.
On 15 May 2008, NLC got approval from the Union government for development of 1000-megawatt coal based thermal power project at Tuticorin in Tamil Nadu.
Neyveli Lignite Corporation’s principal activities are exploration of lignite mines and power generation. The company owns three lignite mines and two thermal power stations in Neyveli and Cuddalore district in the state of Tamil Nadu. It generates power by using lignite as fuel.
The company announced the results after trading hours on Tuesday, 27 May 2008.
Meanwhile, the BSE Sensex was up 84.87 points, or 0.52%, to 16,360.46.
On BSE, 49,343 shares were traded in the counter. The scrip had an average daily volume of 11.09 lakh shares in the past one quarter.
The stock hit a high of Rs 148 and a low of Rs 142.10 so far during the day. The stock had a 52-week high of Rs 273.90 on 4 January 2008 and the stock hit a 52-week low of Rs 58.85 on 12 June 2007.
The mid-cap company had underperformed the market over the past one month till 27 May 2008, declining 5.99% compared to the Sensex’s decline of 4.35%. It had also underperformed the market in the past one quarter, declining 10.70% compared to Sensex’s decline of 8.70%.
The company’s current equity is Rs 1677.71 crore. Face value per share is Rs 10.
The current price of Rs 148 discounts its Q4 March 2008 annualised EPS of Rs 9.17, by a PE multiple of 16.14.
Neyveli Lignite Corporation (NLC)’s net profit surged 94.36% to Rs 1101.57 crore on 34.48% rise in total income to Rs 3638.07 crore in the year ended March 2008 over the year ended March 2007.
On 15 May 2008, NLC got approval from the Union government for development of 1000-megawatt coal based thermal power project at Tuticorin in Tamil Nadu.
Neyveli Lignite Corporation’s principal activities are exploration of lignite mines and power generation. The company owns three lignite mines and two thermal power stations in Neyveli and Cuddalore district in the state of Tamil Nadu. It generates power by using lignite as fuel.
Cement shares build on relaxation of export ban
Four frontline cement shares rose between 1.37% and 3.69% after the Union government partially lifted a ban on cement exports.
Meanwhile the BSE Sensex was down 19.92 points or 0.12% to 16,259.98
Ambuja Cement (up 3.69% to Rs 101.20), UltratechCement Company (up 2.52% to Rs 651.95), ACC (up 1.37% to Rs 664.50), and India Cement (up 3.51% to Rs 162.30), advanced.
Ambuja Cement clocked volumes of 1.28 lakh shares, UltratechCement Company notched volumes of 3228 shares, ACC clinched volumes of 33,701 shares and 61,827 shares were traded on India Cements counter on BSE.
As per the notification of Directorate General of Foreign Trade (DGFT) issued yesterday, 27 May 2008, export of cement will be allowed from ports based in Gujarat. Gujarat accounts for almost 90% of the country’s cement exports and approximately two million tonne of cement is exported annually from Gujarat.
The partial relaxation on the export ban comes at a time of expectation of slow down in the demand of cement in the country with monsoons approaching.
Earlier, on 11 April 2008, the government had banned cement export to increase availability of the construction material in the domestic market and keep a check on prices, which among other items had fuelled inflation.
Earlier this month, the government had allowed export of cement and cement clinkers to Nepal.
Meanwhile the BSE Sensex was down 19.92 points or 0.12% to 16,259.98
Ambuja Cement (up 3.69% to Rs 101.20), UltratechCement Company (up 2.52% to Rs 651.95), ACC (up 1.37% to Rs 664.50), and India Cement (up 3.51% to Rs 162.30), advanced.
Ambuja Cement clocked volumes of 1.28 lakh shares, UltratechCement Company notched volumes of 3228 shares, ACC clinched volumes of 33,701 shares and 61,827 shares were traded on India Cements counter on BSE.
As per the notification of Directorate General of Foreign Trade (DGFT) issued yesterday, 27 May 2008, export of cement will be allowed from ports based in Gujarat. Gujarat accounts for almost 90% of the country’s cement exports and approximately two million tonne of cement is exported annually from Gujarat.
The partial relaxation on the export ban comes at a time of expectation of slow down in the demand of cement in the country with monsoons approaching.
Earlier, on 11 April 2008, the government had banned cement export to increase availability of the construction material in the domestic market and keep a check on prices, which among other items had fuelled inflation.
Earlier this month, the government had allowed export of cement and cement clinkers to Nepal.
Singapore Hot Stocks-Raffles Education hits 3-mth high on JVs
Raffles Education Corp (RLSE.SI: Quote, Profile, Research) rose as much as 6.3 percent to a three-month high of S$1.36 after the firm formed joint ventures with India's Educomp Solutions (EDSO.BO: Quote, Profile, Research) in India and China.
The $150 million joint ventures with Educomp Solutions, which provides multimedia teaching aids and computer education programmes to schools, allows Raffles Education to tap into the Indian market.
"The Indian education market mirrors that of China in many ways -- inefficient spending by the government on infrastructure and restrictive regulations that stagger private sector participation," Credit Suisse said in a client note.
Credit Suisse analysts kept Raffles Education at "outperform" with a price target of S$1.75, a 30-percent upside from the stock's last traded price.
They said both firms would have limited near-term synergies, and that their education programmes and systems would take time to gain recognition in China and India.
The $150 million joint ventures with Educomp Solutions, which provides multimedia teaching aids and computer education programmes to schools, allows Raffles Education to tap into the Indian market.
"The Indian education market mirrors that of China in many ways -- inefficient spending by the government on infrastructure and restrictive regulations that stagger private sector participation," Credit Suisse said in a client note.
Credit Suisse analysts kept Raffles Education at "outperform" with a price target of S$1.75, a 30-percent upside from the stock's last traded price.
They said both firms would have limited near-term synergies, and that their education programmes and systems would take time to gain recognition in China and India.
MARKET PREDICTION
GLOBAL MARKET IS MIXED...OIL CORRECTED SIGNIFICANTLY FROM HIGH TO $128.
RUPEE GOT WEAK AGAINST DOLLAR 42.78.
JUST BEFORE CLEARING DAY MARKET IS REALLY BAISED TOTAL ROLL OVER SEEN IS 42% JUNE SERISE O I IS 37 K CR AND MAY SERISE O I IS 48 K CR TOTAL O I IS PREVALING IS 85 K CR.
PUT CALL RATIO IS 1.25%.LEVEL OF NOFTY IS 4800 AND 4920 IS CRUCIAL LEVEL FOR THE DAY.
GO SHORT FROM 4900 WITH SL OF 4920 AND BUY FROM LOWER SUPPORT OF 4820 WITH S L OF 4800.IN LONG SIDE IT AND PHARMA LOOK ATTRACTIVE AND IN SHORT SIDE BANKING , FINANCIAL SERVICES AND CONSTRUCTION LOOKS GOOD.
HAVE A NICE TRADING DAY.
-MR SAM
RUPEE GOT WEAK AGAINST DOLLAR 42.78.
JUST BEFORE CLEARING DAY MARKET IS REALLY BAISED TOTAL ROLL OVER SEEN IS 42% JUNE SERISE O I IS 37 K CR AND MAY SERISE O I IS 48 K CR TOTAL O I IS PREVALING IS 85 K CR.
PUT CALL RATIO IS 1.25%.LEVEL OF NOFTY IS 4800 AND 4920 IS CRUCIAL LEVEL FOR THE DAY.
GO SHORT FROM 4900 WITH SL OF 4920 AND BUY FROM LOWER SUPPORT OF 4820 WITH S L OF 4800.IN LONG SIDE IT AND PHARMA LOOK ATTRACTIVE AND IN SHORT SIDE BANKING , FINANCIAL SERVICES AND CONSTRUCTION LOOKS GOOD.
HAVE A NICE TRADING DAY.
-MR SAM
Subscribe to:
Posts (Atom)