Corporate News 4 May, 2006

[MOTILAL OSWAL KURIACHIRA]

Halo Sir\Madam 

Corporate News

4 May, 2006

• Government has received offers from 35 bidders to build four power plants of 4,000 megawatts each, Shyam Wadhera, director of projects, Power Finance Corp, said. Reliance Energy Ltd. and Tata Power Ltd. are among the bidders.
• Bombay Dyeing to separate real-estate business, the company to enter hotel business
• Uttam Galva to shut plant for 45 days as it double capacity
• Sintex Industries plans to buy 74 percent of Zeppelin Mobile Systems India.
• Jindal Stainless raises prices by 7% or Rs7000 per ton
• Raymonds Q4 net profit at Rs348.1mn (down 23%), income at Rs3.84bn (up 20%) and other income at Rs159.7mn (Rs146mn)
• Century Textiles Q4 net profit at Rs252.1mn (down 41%), income at Rs7.38bn (up 5%) and tax paid Rs300mn (Rs45.6mn)
• Siemens has completed the acquisition of a 50% stake in Flender Ltd. for Rs678mn. With signing of the closing agreement, Flender is now a Siemens company along with its manufacturing unit located at Kharagpur, West Bengal.
• Bata India – The Company has approved the restructuring of the Balance Sheet. Under the restructuring Plan carried forward losses, VRS expenses, some specific debtors and inventories will be reduced from the Share Premium Account to give a more realistic picture of the Balance Sheet.
• IPCL to pay dividend at Rs5.5 per share

Derivatives Summary

The top ten contracts contributed to around 48% of the total traded volume in Futures on individual securities. Reliance was the most active future contracts on individual securities traded today with 68260 contracts and Reliance Capital was the next most active futures contracts with 21858 contracts being traded.

Economy and Political

• Overseas investment is key to the Indian government's plan to speed up economic growth, Finance Minister said.
• Pakistan, Asia's third-largest sugar user, plans to import 200,000 metric tons of sugar every month until October to meet demand and lower prices of the sweetener.
• Moody's upgrade domestic currency debt to stable from negative

Institutional activities (Rs in Cr.)

FIIs (Cash) : N.A.                 FIIs(F&O) : -170.00                 MFs : N.A.

 

Thank you.

 

Happy Investing!

 

Sincerely yours,

Vijo Joy Kuriakose P
Branch In Charge
MOTILAL OSWAL SECURITIES LTD
1st Floor, Flamon Complex
Kuriachira, Thrissur-680006
Ph: 0487-5523675,
Mob: 9895977410
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