ALLAHABAD BANK Remains a good banking stock to hold

Why ALLAHABAD BANK Remains a good banking stock to hold?
The ALLAHABAD BANK presented a very good results for the first quarter ended 30th June 2009. For Q1FY10, the bank posted a YoY 28% rise in total income earned at Rs.2377.70 crore. Deposits were at Rs 89,400 crore and advances at Rs 61,000 crore, meaning the total business of the bank has crossed Rs,150,000 crore. Operating profit was at Rs 591 crore almost twice that was posted in Q1FY09. The net profit rose three times at Rs.302.86 crore. This surge is more pronounced as in Q1FY09, the bank had made a huge provisioning of Rs.202.24 crore as against Rs.39.63 crore in current Q1. Its net interest income grew 34.3% to 629 crore. The growth in trading profit was also quite smart – it was up over 5 times at Rs.214 crore.
The bank has recovered Rs 50 crore from defaulters. It upgraded loans to the tune of Rs.97 crore and has written off Rs.50 crore. Gross NPA is at 1.79% as against 1.87% in Q1FY09 and net NPA was at 0.37%, up from 0.72% in Q1FY09.
This is one of the oldest public sector banks of India, established way back in 1865. The Govt of India has a 55.23% stake and institutions hold 26.45% of which LIC has a 11.63%, leaving a floating stock of 18.32%.
The stock touched a high of Rs.90 on 2nd June 2009 in anticipation of the Budget making some favorable recommendations, Since then, it has come down but yet managed to hold strong and is now quoted at Rs.79. Remains a good banking stock to hold. thanks

McNALLY BHARAT ENGINEERING Stay invested

McNALLY BHARAT ENGINEERING A a joint venture between the Williamson Magor group and GP Birla group, the company currently seems to be on a roll. The stock has been moving up since the last few days and continues to remain above Rs.100. And the reason – it’s MoU with KHD Humboldt Wedag International GMBH for acquiring its engineering workshop in Cologne, Germany and coal & mineral technology (CMT) business based in Germany, India, South Africa, Russia and China.
The company has posted a very good performance For FY09, the company’s net sales more than doubled to Rs.1107.42 crore. EBIDTA was up 110% at Rs.91.28%. Net profit was up 42% at Rs.31.86 crore. A look at the margins – OPM was up at 8.24% from 7.91% in FY08 but NPM shows a marked slip to 2.88% from 4.08%.
Williamson Magor & Co, a promoter group company, pledged nine lakh shares representing 2.89% stake of the company. Williamson Magor held 2.96% stake in the company, while the total promoter shareholding stood at 32.30% as on 31 March 2009.
Why McNALLY BHARAT ENGINEERING Stay invested?
But with an order book of Rs 2200 crore and with bids for Rs.4075 crore in the pipeline, there is no doubt that the company is poised for very good growth.
McNally Bharat has a good order book and in the current uncertain times, such brick and mortar companies are a better bet. Stay invested. thanks

SEAMEC Stock Amongst the Major Gainers

Seamec Ltd with four vessels, provides offshore support to petroleum exploration and production companies, in India and abroad.
The company managed to finally turnaround in the fourth quarter ended 31st Dec 2008. It reported net profit of Rs 54.57 crore as against net loss of Rs 15.88 crore in Q407. Sales rose by a whopping 368.84% to Rs.104.41 crore. For the full year, net profit rose 27.25% to Rs 47.12 crore in the year ended December 2008 as against Rs.37.03 crore during the previous year ended December 2007.
The positive about Seamec is that it has a small fleet of just four vessels and hence deployment is easier. In 2009, as against last year, all the four vessels have been hired as of now. The company expects no dry docks for the year, and there are no cancellations as of now. 7.5% growth in topline in FY09 expected.

The stock was amongst the major gainers of the day, and has been so since the day the results were announced. It was up over 20% yesterday at Rs.57.30. Thanks

BIOCON Biotech Company Q3 Results

For Q3 ended 31st Dec 2008, its consolidated net sales were up 83% at Rs 436.19 crore. German firm AxiCorp GmbH, in which Biocon acquired a 71% stake last April, contributed Rs.280 crore to topline. Its OPM was at 22% versus 25% on a YoY.
It then posted a forex loss of Rs 45.80 crore. This means, in the first nine months of the year, Biocon has lost Rs106 crore on account of this MTM provisioning and cancellation of certain longer-term forward cover. It reported a net profit of Rs 28.20 crore in Q3FY09, while it had a net profit of Rs 291.82 crore in Q3FY08, a fall of massive 90%.
Biocon’s flagship product in the pipeline, oral insulin IN105, will soon enter phase III trial, for which the company has recruited 264 patients. The company hopes to launch the drug for type II diabetes next year.
With pressure on margins continuing despite increase in topline, the share price may take a further beating and may correct to two digits, given the fact that it is barely above Rs.100 right now. thanks

DABUR INDIA Great Buying opportunity

A truly Indian born and bred FMCG, Dabur India has done well for itself for the second quarter ended 30th September 2008. Irrespective of the overall slowdown, there are some producst like oil, shampoo, soaps which people simply do not stop using. On a consolidated basis, Dabur’s consolidated revenue for Q2FY09 rose 18.4% on a YoY at Rs.699.30 crores. Its international business showed a robust performance, growing by 40.5%, led by growth in GCC, Egypt, Nigeria, Yemen and North African markets. Sales in African markets surged 65%. Dabur Egypt grew by a robust 88% and Bangladesh sales surged by 85%. Net Profit for the quarter rose 12.2% at Rs.107.41 crore.

Dabur India's FMCG portfolio includes five flagship brands with distinct brand identities -- Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Réal for fruit-based beverages and Anmol for affordable personal care business.

During the quarter, hair oil reported a 20% growth in the quarter led by Anmol Coconut Oil and Dabur Amla Hair Oil. Shampoos grew by 36%, while Baby & Skin Care business reported 18% growth following the expansion of Dabur Gulabari skin care range with the introduction of Dabur Gulabari Moisturising Cream and Lotion. It launched a new product in the Q1 - hard surface cleaner brand ‘Dazzl’, and this has garnered a market share of 6.1% (July-September 08) in the floor and kitchen cleaner category.

Dabur also reconstituted its Board of Directors with the induction of two new independent directors - Aviva India’s former MD, Bert Paterson and Mr. Analjit Singh, Co-Founder and Chairman of Max India. It has also signed in Dhoni as its new brand ambassador, replacing Amitabh Bachchan.

Currently quoted at around levels of Rs.80, it has recovered from the low of Rs.60, which was a great buying opportunity.
thanks

catch GMR at 86 Rs Good Pick in Bear Trends

Delhi has a new tourist attraction but to see that you have to be either employed with the airport or land in Delhi in an aircraft, which is easier. India’s longest runway has started working at International Airport in Delhi. This is the third runway of Delhi airport and the first aircraft to land on it was British Airways from Heathrow. Meant to handle new generation aircraft like the wide-bodied Airbus 380 and Antonov 22, the runway is 4,430-metre long and 75-metre wide and is called '11-29'. The longest runway in Asia is at the Qamdo Bangda Airport in Tibet, which is 5,500 metres long.

Since the time it started, from 6AM in the morning, till 11AM, more then 60 aircrafts had already landed, indicating the amount of traffic the airport has. It also makes one wonder how did it manage to function at all? Till now, aircrafts used to hover over the airport, waiting for the signal to land. This was a criminal wastage of ATF and now with this new runway, at least this hovering would end.

This is another big feather to the cap of GMR which led a consortium to operate and modernize the IGI Airport under a Public Private Partnership Initiative. Completed more than six months ahead of scheduled date of February 2009, the company is on track to complete the Terminal 3 on schedule as well. Together, the runway and Terminal 3 will form India’s new gateway to the world when it welcomes participants and guests for the Commonwealth Games 2010.

One interesting bit of trivia - over 650,000 tonnes of asphalt concrete has been used, which, could have built 75 km of six-lane expressway.
thanks

I was fishing this bot from long time.. today i catch GMR at 86 Rs. Will be having gr8 weekend now..

GM Announcement | gm stock | gm news

Sounds like end of automotive era by GM, read on announcement by GM Chairman and CEO, Rick Wagoner :

GM announced operating actions, potential asset sales, and financing activities totaling approximately $15 billion

Announced an additional $4-5 billion in cost savings by 2011 driven by the implementation of the 2007 GM-UAW contract

Announced plans for internal operating and Board of Director actions to generate approximately $10 billion in cumulative cash improvements by the end of 2009

DETROIT - General Motors Corp. (NYSE: GM) today announced it is taking further steps to adapt its business to rapidly changing market conditions, marked by the weak U.S. economy, record high fuel prices, shifts in consumer vehicle preferences, and the lowest U.S. industry sales volumes in a decade

GM Chairman and CEO, Rick Wagoner further announce that

• Operating and related actions to generate approximately $10 billion in cash improvements
• More than 20 percent reduction in salaried employment cash costs
• Dividend on common stock suspended
• Asset sales and capital market activities to raise $4-7 billion of additional liquidity

source GM media
stock is up, opened at $9.43 with trading

volume: 23,235,678

get GM latest stock quote
here was the news 10months before on GM's product announcements at IAA 2007 in Frankfurt, Germany.

Todays pick Reliance Industries

Reliance Industries presents good trading opportunity. Take Rs.1,955 as morning support and buy with a stop of Rs.1,943 . In the near term its major support/bounce level is Rs.1,920. The stock would meet resistance at Rs.2,044.

source

==================================================
I will say pick up and hold for at least two years, will get good returns
I picked up it yesterday.. :-)
==================================================

RANBAXY LAB today

RANBAXY LAB IS UNDER A SPELL OF DISGUISED DISTRIBUTION. SELL AT THE CURRENT LEVEL AND ON RISE TO 515 AND HOLD FOR A TARGET OF AROUND 575.

Sylph Technologies

The market today witnessed yet another crazy relisting, this time that of Sylph Technologies, (Q, N,C,F)* which soared a staggering 1,000 times.

The Z-category scrip, which had delisted at 80 paisa in March 2001, opened at Rs 152 on the Bombay Stock Exchange (BSE) today.

The stock was last trading at Rs 800, up 1,000 times on volumes of 1,900 at the BSE. (11.30 a.m.)

``I am surprised and shocked``, said, Rajesh Jain, Director, Sylph Technologies, on CNBC TV18 reacting on the bizarre moment of the scrip.

Yesterday, KGN Industries created a history of sorts when its shares soared to Rs 55,000 on relisting. Shares of the company settled at Rs 21,000, up Rs 20,988.15, or 177,115.19% over previous close of Rs 11.85 on Jun. 8, 2001.
source myiris.com

trading stock- bombay dyeing

Bombay Dyeing will consolidate between Rs.963 (stop Rs.955) and Rs.1,008 (stop Rs.1,022).

In news
Bombay Dyeing likely to spin off realty

Tanvi Shukla

Mumbai: Textile major Bombay Dyeing is considering demerging its real estate business into a separate company, according to sources familiar with the situation.

The hiveoff will be followed by an initial public offering, sources said.

Company officials refused to comment, saying Ness Wadia alone can speak on this. Wadia could not be contacted as he is in the thick of the IPL cricket extravaganza.

The Street, nevertheless, is betting on the move. On Friday last, the share ended up 18.21% at 973.15.

Shailesh Kanani of Angel Broking says the demerger and IPO plans are driving up the share price.

Analysts said a spin-off helps Bombay Dyeing get better valuations.

They expect concrete plans to be announced by August.

The development plans for the textile major’s Worli and Dadar properties are huge: about 10 million square feet for IT parks, retail hubs, commercial and residential projects, hotels and serviced apartments.

The capex involved will run into hundreds of crores. The company has already begun sales of residential projects valued at around Rs 500 crore.

Angel’s Kanani said more than 25% of residential properties have already been sold at prices between Rs 20,000 and Rs 25,000 per square feet.

“Their net margin will be over 60%-70%,” Kanani estimates. That should translate into a profit of around Rs10,000 per square feet, Kanani said.

The company does not have to invest in land, and the construction contract, worth Rs 1,800 crore, has already been given to Larsen & Toubro.

Sources said Bombay Dyeing plans to sell only 0.4 million sq ft, of its residential development at Dadar, and commercially lease the remaining 3.9 million sq ft including at Worli.

This, analysts said, would allow the company to capture capital appreciation on assets as well as enjoy healthy yields from leased properties. Bombay Dyeing’s development plans were first announced in fiscal 2005.

But analysts said the delays that the projects faced have been a blessing in disguise as real estate prices have skyrocketed since then.

Source : DNA

Todays watchlist

stock to watch today

IFCI
DLF LTD

Cummins india

Cairn India which saw some massive sell off could now find support at around Rs.271.
Buy with a stop of Rs.266 and expect a pull back upto Rs.280/286.