I have recommended a Brewerie (Liquor making) Company to the Premium Group Members whose name starts with...."As"....Then what is the name of the company whose shares are trading below Rs.50(below its book value) and is highly undervalued????!!!: Chandra Prabhu International Ltd hit the buyer freeze with huge volumes on the news of Coal Mining. The scrip was earlier recommended to the Premium Group Members at Rs.8.99: Binani Industries Ltd which holds 13,18,25,856 shares of Binani Cement whose market value is Rs.1620,79,88,995.2 or more than Rs.1600 Cr. rose 7.83% to Rs.225.25 and nearly hit the buyer freeze--Intra-day it rose to Rs.227.5. Besides Binani Industries Ltd is having holdings in Goa Glass Fibre Ltd, B T Composites Ltd(its networth has turned positive), Wade Industrial Estate Ltd, and wholly owned subsidiaries of Binani Zinc Ltd viz., ESS VEE Alloys Pvt Ltd, RBG Minerals Industries Ltd(the mining cum benefaction project to mine zinc, and other metals) and Binani Mazak Pvt Ltd. Binani Industries Ltd also has Indirect Interest in a host of Share Trading/Consultancy/Portfolio Advisory firms like, K.B. Vyapar Pvt. Ltd., Lexus Holdings and Finance Pvt. Ltd, Suryamukhi Vintrade Pvt. Ltd., ACE Portfolio and Finance Pvt. Limited, etc.Investors are bound to get stunned to find the Name of Reliance in the list of companies, who are having positions in Binani Industries Ltd. This is definitely a positive development and bound to have Significant effect on the Company's Share Price going forward.
Now look at the Regal-list of companies who are Holding good Chunks of the shares of Binani Industries Ltd:
1) Life Insurance Corporation of India, holds, 877356 shares or 2.96%
2) New India Assurance Company Ltd, holds 871950 shares or 2.95%
3) Lucknow Properties & Finance Ltd, holds 1365047 shares or 4.61%
4) Bageshree Traders Pvt Ltd, holds 4.21%
5) Reliance Capital Trustee Company Ltd, holds 581778 shares or 1.97%
6) BSMA Ltd, holds 302945 shares or 1.02 %
7) HSBC Unique Opportunities Fund, holds 732079 shares or 2.47%.
In all total 6279280 shares or 21.22% are held by Corporates and HNI clients. The equity capital of Binani Industries Ltd is only around Rs.29.6 Cr, the EPS for the June quarter alone is Rs.18.87 and hence the Scrip is heading towards Rs.550-plus mark for the immediate Short Term Target. This is bound to be Super-duper multi-bagger for the future (Do you remember Amjit ji's "Deewar"/"Sholay"/"Sharabi" or Mithun da's "Dance Dance" or Sharukh Khan's Ki-ki-ki--kiran--"Daar" or Amir Khan's "Lagan" or Rani Mukherjee's "Hey Kya Bolti Tu..."----"Gulam"!!!!????): Accumulate Conart Engineers Ltd(BSE Code-->522231) and Rasoya Proteins Ltd just before the results, these could surprise the investors: Lokesh Machines Ltd (BSE Code->532740) which was recommended in the Sunday Report to the Premium Group members as the best bet rose 5.66% to Rs.99.90 after cooling down a bit from Rs.107:
The market bounced back after an initial slump caused by on worries about the US economic outlook. But while the BSE Sensex managed topost gains, the S&P CNX Nifty settled with losses. Volatility was high due to alternate bouts of buying and selling.
European and Asian markets were trading lower yesterday, 22 October2 007 on worries about the US economic outlook.
The BSE 30-share Sensex rose 54.01 points or 0.31% at 17,613.99. It opened 300.33 points lower at 17,259.65 and slipped to a low of 17171.45 within minutes after commencement of trade. At the day'slow of 17,171.45, the Sensex had lost 388.53 points for the day.From here it staged a solid rebound. Sensex hit a high of 17,704.83 in the day. At day's high of 17,704.83, Sensex had risen 144.85 points for the day. Sensex oscillated 533.38 points in the day.
However, the broader based S&P CNX Nifty lost 31.30 points or 0.60%at 5,184. The surge in Sensex even when the Nifty ended in the red was due to rally in HDFC and ICICI Bank. These two stocks have much higher weightages in Sensex than in Nifty. The HDFC stock jumped 7.27% to Rs 2572.55 and ICICI Bank rose 3.74% to Rs 1062.35. While Housing Development Finance Corporation (HDFC) has about 5% weightage inSensex, it has only about 2% weightage in Nifty. ICICI Bank has asignificantly higher weightage of about 9% in Sensex as compared toa weightage of a little under 4% in Nifty.
Steel Authority of India (down 4.02% to Rs 213.60), National Aluminium (down 3.14% to Rs 279.20), and ABB (down 2.79% to Rs1376.95), which are part of Nifty but are not part of Sensex, also dragged Nifty lower.
The Nifty October 2007 futures settled at 5189, a premium of 5 points as compared to spot closing. Volatility is expected toremain high in the coming few days ahead of expiry of October 2007 derivatives contracts on Thursday, 25 October 2007. The BSE Mid-Cap index was up 0.34% to 7,263.41, while the BSES mall-Cap index rose 0.58% to 8,851.47. Both these indices outperformed the Sensex Of the 30 shares of the Sensex, 17 rose while the rest slipped.
The market breadth was just about positive on BSE. 1341 scrips advanced as compared to 1314 that declined, while 70 remained unchanged. The total turnover on BSE amounted to Rs 7486 crore, lower ascompared to Rs 9611 crore on Friday, 19 October 2007.
The NSE F&O turnover was Rs 71454.20 crore, lower as compared to Rs 83102.28 crore on Friday, 19 October 2007 Sectoral indices on BSE displayed mixed trend. Bankex (up 2.17% to9,029.09), BSE Health Care Index (up 0.41% at 3,729.99), BSEConsumer Durables index (up 0.52% to 4,801.72), BSE FMCG Index (up1.16% at 2,045.03), BSE Capital Goods Index (up 0.90% at15,568.76), outperformed the Sensex. BSE Oil and Gas Index (down 1.59% at 10,079.97), BSE Metal Index(down 0.33% at 14,432.72), BSE Auto Index (up 0.08% at 5,301.00),BSE PSU index (down 0.40% to 8,178.11), BSE IT Index (down 1.42% at4,619.17), BSE TecK index (down 1.54% to 3,857.17), BSE BSE Realty(down 0.66% to 8,994.22), were underperformers.
India's largest private sector mortgage financer in terms of net profit Housing Development Finance Corporation (HDFC) vaulted 7.27%to Rs 2572.55 on 2.25 lakh shares. It was top gainers from Sensexpack. The company will declare its Q2 September 2007 results on 29October 2007 ICICI Bank, the country's largest private sector bank in terms ofnet profit rose 3.74% to Rs 1062.35. Its net profit rose 32.7% toRs 1002.60 crore on 41% growth in total income to Rs 9588.41 crorein Q2 September 2007 over Q2 September 2006. The results hit themarket after trading hours on Friday, 19 October 2007.
State Bank of India (up 1.94% to Rs 1700), Union Bank of India (up2.64% to Rs 141.95), and Kotak Mahindra Bank (up 1.42% to Rs 840),were the other gainers from banking pack. North India's largest cement manufacturer, Ambuja Cements gained 4.48% to Rs 145.85 on 5.44 crore shares after three block deals of1.57 crore shares each were executed on the counter on BSE inopening trade at an average price of Rs 144.42 per share. It wasthe top traded counter on BSE with total turnover of Rs 787.18crore Reliance Energy (Rs 551.86 crore ), United Breweries (Holdings) (Rs510.05 crore), Reliance Industries (Rs 479.92 crore ),and RelianceCommunications (Rs 235.06 crore ), were other turnover toppers onBSE. Mahindra & Mahindra (up 3.96% to Rs 757), ACC (up 3.92% to Rs 1030)and ITC (up 2.35% to Rs 179), were the other gainers from Sensexpack.
Shares from capital goods space made a late comeback. India's largest power equipment maker in terms of sales, Bharat HeavyElectricals (Bhel) gained 1.48% to Rs 2080. The company informed BSE that due to some unavoidable circumstances, its board meet to consider Q2 September 2007 results scheduled to be held on 25 October 2007 has been postponed to 29 October 2007. It's day's low was at Rs 1970 Larsen & Toubro (L&T), the nation's largest engineering andconstruction company by sales, gained 3.04% to Rs 3115. Its day's low was at Rs 2912.
Reliance Energy, the country's second largest power utility companyin terms of sales, rose 2.38% to Rs 1370 on 39.97 lakh shares, offits day's high of Rs 1465. The stock surged sharply from early lowsof Rs 1255, on value buying. The stock had plunged 18.52% in pastone week to Rs 1333.25 on 19 October 2007.
India's largest oil exploration company in terms of market capitalisation Oil and Natural Gas Corporation declined 1.38% to Rs1090. As per reports that its joint venture firm ONGC-Mittal Energy had acquired a 30% participating interest in an exploration blockin Turkmenistan. The report did not disclose the deal value.
India's largest private sector entity by market capitalisation and oil refiner Reliance Industries (RIL) was down 1.98% to Rs 2420.20on 19.74 lakh shares. It recovered sharply from early lows of Rs2395. As a part of a restructuring exercise, RIL has reportedly decided to hive off Reliance Fresh into a separate company, Ranger Farm, for single point accountability. Reliance Fresh sells food, fruits and vegetables and consumer products. IT stocks stayed under selling pressure throughout the day anddominated the list of top losers, on worries about a downturn in the United States, where the firms earn more than half theirrevenue.
India's fourth largest sofftware services exporter Satyam Computer lost 3.14% to Rs 445.60 on 7.01 lakh shares. It was thetop loser from Sensex pack. Satyam Computer announces Q2 September 2007 results tomorrow. A total of 9 brokerages expect a between 2.4% fall to a 6.2% growth in Satyam's consolidated net profit as per Indian GAAP to between Rs 369.10 crore to Rs 410.80 crore as compared to net profit of Rs378.32 crore in Q1 June 2007.
They expect a between 6.3% to 9.3% growth in revenue to between Rs 1945.50 crore to Rs 2000.90 croreas compared to revenue of Rs 1830.19 crore in Q1 June 2007. Analysts expect Satyam's operating profit margins to slide on asequential basis due to salary hikes effected in Q2 September 2007.
TCS (down 2.96% to Rs 1074), Wipro (down 1.31% to Rs 494) andInfosys (down 1.54% to Rs 1878.15), edged lower.
India's largest listed cellular services provider by sales, BhartiAirtel recovered sharply from day' s low of Rs 909 to settle 1.49% lower to Rs 954. The early fall was triggered by on concerns that the launch of nationwide GSM services by rival RelianceCommunications would eat into its market share. The stock lost9.43% in past one week to Rs 968.45 on 19 October 2007.
Reliance Communications was down 0.71% to Rs 722, off its day's high of Rs 741. Reliance Communications (RCom), on Friday, 19October 2007, got nod to launch nationwide GSM-based cellularservices from Department of Telecom (DoT). Tata Motors (down 2.27% to Rs 765), and Maruti Suzuki India (down2.21% to Rs 1050), were the other losers from Sensex pack. Among stocks with high volumes, Power Grid Corporation slipped1.29% to Rs 129.85 on 1.61 crore shares. Reliance Natural Resourceslost 0.85% to Rs 87.10 on 1.53 crore shares. Tata Teleservices(Maharashtra) rose 0.76% to Rs 39.90 on 96.36 lakh shares.
United Breweries (Holdings) was down 0.82% to Rs 923 after a block deal of 27.82 lakh shares was struck on the counter on BSE at Rs901 per share in opening trade.
Havells India rose 2.06% to Rs 621 after the company said private equity firm Warburg Pincus will pick up stake in the company.
Rolta India declined 2.10% to Rs 579.90 despite announcing good Q1 September 2007 results and also a 1:1 bonus issue during market hours yesterday, 22 October 2007.
GTL rose 4% to Rs 242.35 on reporting 494.63% spurt in net profit to Rs 45.43 crore on 145.89% rise in sales to Rs 357.92 crore in Q2 September 2007 over Q2 September 2006. The company announced theresults during the market hours on 22 October 2007.
LIC Housing Finance gained 4.52% to Rs 225.25 after its net profi trose 53.25% to Rs 116.37 crore on 36.84% rise in total income to Rs526.58 crore in Q2 September 2007 over Q2 September 2006.
India Infoline soared 3.46% to Rs 893.70 after its board approved raising foreign fund investment limit to 100% of the company'spaid-up capital.
Zee Entertainment Enterprises gained 6.28% to Rs 319.20. The company will declare its Q2 September 2007 results tomorrow, 23 October 2007.
India Cements climbed 3.91% to Rs 279 on reporting 89.78% rise innet profit to Rs 222.65 crore on 51.49% rise in sales to Rs 896.09crore in Q2 September 2007 over Q2 September 2006. The company announced the results during the market hours on 22 October2007.
Tech Mahindra slumped 5.22% to Rs 1260. Its consolidated net profit rose 6.7% to Rs 181.6 crore on 2.4% growth in revenue to Rs 897.6crore in Q2 September 2007 over Q1 June 2007. The results hit themarket after trading hours on Friday, 19 October 2007.
Welspun India rose 3.14% to Rs 64. Its net profit declined 8.3% toRs 16.81 crore on 6.3% growth in net sales to Rs 293.79 crore in Q2September 2007 over Q2 September 2006. The results hit the marketafter trading hours on Friday, 19 October 2007.
Shanthi Gears surged 9.23% to Rs 74 on reporting 52.39% rise in netprofit to Rs 10.5 crore on 26.18% rise in sales to Rs 59.37 crore in Q2 September 2007 over Q2 September 2006.
Gujarat Narmada Valley Fertilizers Company jumped 6.30% to Rs141.75 on reporting 63.05% rise in net profit to Rs 120.58 crore on66.67% rise in total income to Rs 1,164.84 crore in Q2 September2007 over Q2 September 20066.
PTC India rose 2.15% to Rs 95 on its plans to sell up to 40% stake in its financial services subsidiary PTC India Financial Services.
A crucial meeting of the panel set up by the government to look into Left front's concerns over the Indo-US nuclear deal holds itsfifth meeting yesterday, 22 October 2007, with Left front demanding a clear statement that the deal is off.
The Securities and Exchange Board of India chairman, M Damodaran, held a video conference with overseas investors to clarify all issues arising from the draft proposal on participatory notes (PNs) released by the regulator on Tuesday, 16 October 2007. After trading hours on Tuesday, 16 October 2007, Sebi issued draft proposals wherein the market regulator proposed restriction on use of the popular participatory notes (PNs) route of FII inflow and it also recommended unwinding of some PNs within 18 months. PNs are financial instruments used by foreign investors that are not registered with Sebi, to invest in Indian shares. FIIs and their sub-accounts buy Indian securities and then issue PNs to foreign investors with these securities as the underlying.
European markets opened lower yesterday, 22 October 2007. Key benchmark indices from United Kingdom (down 1.26% to 6,445.50), and Germany(down 1.27% to 7,748.01) declined. Asian markets were trading weak on 22 October 2007, in the wake of a sell-off on Wall Street on Friday, 19 October 2007. HongKong's Hang Seng (down 3.70% at 28,373.63), Japan's Nikkei (down2.24% at 16,438.47), Taiwan's Taiwan Weighted (down 2.61% at9,360.63), Singapore's Straits Times (down 2.81% at 3,642.64) and South Korea's Seoul Composite (down 3.36% at 1,903.81) all edgedlower.
US markets tumbled on Friday, 19 October 2007, amid lackluster profit reports and credit concerns on Black Monday Anniversary. TheDow Jones Industrial Average plunged 366.94 points, or 2.64%, to13,522.02. The Standard & Poor's 500 index fell 39.45 points, or2.56%, to 1,500.63, and the Nasdaq Composite index dropped 74.15points, or 2.65%, to 2,725.
India's wholesale price index rose 3.07% in the 12 months to 6October 2007, lower than the previous week's 3.26% rise, government data released on Friday, 19 October 2007 showed. It was the lowest annual rise in 5 years.
Crude oil prices fell on Monday, 22 October 2007 on profit taking from record highs, but hovered near $88 on simmering geo-political tensions and a weak dollar. US light crude for November delivery fell 77 cents to $87.83 a barrel. On Friday, 19 October 2007, ittouched an all-time high of $90.07. London Brent crude fell 46cents to $83.33 a barrel.
"Happy Bijoya" Dasami to all..................
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