Market News

[karvind79]

Dear Friends,

I am herewth enclosd marketstrategy from INDIAINFOLINE.COM ( 5 paisa)
for our Traderji.com friends.

http://rapidshare.de/files/5751951/30_Sept_1_._Daily_Market_Strategy_India_Infoline.pdf.html

Kindly download it from above link.

From,

Arvind.K

[email protected]

 

[karvind79]

MN 1:

Todays Writing declares dividend for FY-05
Todays Writing Products Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on September 28, 2005, inter alia, have accorded to the following:
1. Adoption of Audited Balance Sheet as on March 31, 2005 and the Profit and Loss Account for the year ended as on that date together with the Auditors Report and Directors report thereon.
2. Declaration of dividend at the rate of Rs 1.50/- per equity share of Rs 10/- each on the Equity Share Capital of the Company for the year ended March 31, 2005.
3. Re-appointment of Mr. Ronald Netto as Director of the Company, liable to retire by rotation.
4. Re-appointment of M/s Ajay Shobha & Co. and M/s Chaturvedi Sohan & Co., Chartered Accountants, as Auditors of the Company to hold the office until the conclusion of the next Annual General Meeting.
5. Appointment of Mr. Sushil Sharma, who was appointed as Additional Director, as a Director of the Company, liable to retire by rotation.
6. Increase in the Authorised Share Capital of the Company from Rs 15,00,00,000/- divided into 1,50,00,000 equity shares of Rs 10/- each to Rs 25,00,00,000/- divided into 2,50,00,000 equity shares of Rs 10/- each, and consequential amendment in Memorandum and Article of Association of the Company.
7. Re-appointment of Mr. Rajesh Kumar Drolia as Managing Director of the Company for the period of five years effective September 30, 2005 to September 29, 2010.
8. Appointment of Mr. Sushil Sharma as Whole Time Director of the Company for a period of five years effective October 01, 2005 to September 30, 2010.
9. Authority to the Board to delist the Equity shares from The Stock Exchange, Ahmedabad, The Delhi Stock Exchange Association Ltd, The Calcutta Stock Exchange Association Ltd and Vadodara Stock Exchange Ltd.
**********************************

MN 2:

Satyam Computer allots shares under stock option plans
Satyam Computer Services Ltd has informed that the Board of Directors of the Company have allotted 44,291 equity shares through circular resolution on September 30, 2005 under stock option plans of the Company.
Further the Company has informed that consequent to the above allotment, the paid up share capital of the Company has gone up from 321,921,051 equity shares of Rs 2/- each aggregating Rs 643,842,102 to 321,965,342 equity shares of Rs 2/- each aggregating Rs 643,930,684.


****************************

NTPC: News clarification
With reference to the news item titled, NTPC firms up oil exploration foray & India awards exploration blocks to NTPC, Jubilant respectively, National Thermal Power Corporation Ltd (NTPC) has clarified that, the Company has not received any official communication on this subject and has no other information except having learnt it from the news item.
Further the Company has informed that it will inform the correct position as soon as the Company receive official communication about award of Oil Block to NTPC Consortium.


************************************

Kakatiya Cement announces 20% dividend
Kakatiya Cement Sugar & Industries Ltd has informed that the Shareholders at the 26th Annual General Meeting (AGM) of the Company held on September 30, 2005, declared payment of Dividend at 20% i.e. Rs 2.00 per share.
************************************

Syncom Formulations announces 15% dividend
Syncom Formulations (India) Ltd has informed that the members of the Company at the 17th Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have approved the payment of dividend at 15% (Rs 1.50/- per share) on the Equity Shares of Rs 10/- each.
Further the Company has informed that the dispatch of dividend Cheques/DDs for the year 2004-2005 to all the members will start after October 01, 2005.


****************************************

Alps Industries members declare 15% dividend
Alps Industries Ltd has informed that the members at the 33rd Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have approved the following:
1. Adoption of Audited Balance Sheet as on and Profit & Loss Account for the year ended March 31, 2005, alongwith the Directors Report and Auditors Report thereon.
2. Declaration of Dividend on Equity Shares at 15% on the issued, subscribed and paid-up capital as on March 31, 2005.
3. Re-appointment of Mr. Rakesh Gupta, as Director of the Company.
4. Re-appointment of M/s. R K Govil & Co, as the Statutory Auditors of the Company till the conclusion of next Annual General Meeting.
5. Approval under Section 293(1)(a) have granted for mortgaging the fixed assets of the Company.
6. Approval for enhancement in the borrowing powers under section 293(1)(d) of the Companies Act, 1956.
7. Approval for the commencement and make amendment in the part III clause (C) under the heads Other Objects of the Memorandum of Association of the Company.
************************************************

Investors are need to cross check msgs before deciding (buy or Sell)

From

Arvind.K

 

[feels_good_today]

MN 1:

Todays Writing declares dividend for FY-05
Todays Writing Products Ltd has informed that the members at the 13th Annual General Meeting (AGM) of the Company held on September 28, 2005, inter alia, have accorded to the following:
1. Adoption of Audited Balance Sheet as on March 31, 2005 and the Profit and Loss Account for the year ended as on that date together with the Auditors Report and Directors report thereon.
2. Declaration of dividend at the rate of Rs 1.50/- per equity share of Rs 10/- each on the Equity Share Capital of the Company for the year ended March 31, 2005.
3. Re-appointment of Mr. Ronald Netto as Director of the Company, liable to retire by rotation.
4. Re-appointment of M/s Ajay Shobha & Co. and M/s Chaturvedi Sohan & Co., Chartered Accountants, as Auditors of the Company to hold the office until the conclusion of the next Annual General Meeting.
5. Appointment of Mr. Sushil Sharma, who was appointed as Additional Director, as a Director of the Company, liable to retire by rotation.
6. Increase in the Authorised Share Capital of the Company from Rs 15,00,00,000/- divided into 1,50,00,000 equity shares of Rs 10/- each to Rs 25,00,00,000/- divided into 2,50,00,000 equity shares of Rs 10/- each, and consequential amendment in Memorandum and Article of Association of the Company.
7. Re-appointment of Mr. Rajesh Kumar Drolia as Managing Director of the Company for the period of five years effective September 30, 2005 to September 29, 2010.
8. Appointment of Mr. Sushil Sharma as Whole Time Director of the Company for a period of five years effective October 01, 2005 to September 30, 2010.
9. Authority to the Board to delist the Equity shares from The Stock Exchange, Ahmedabad, The Delhi Stock Exchange Association Ltd, The Calcutta Stock Exchange Association Ltd and Vadodara Stock Exchange Ltd.
**********************************

MN 2:

Satyam Computer allots shares under stock option plans
Satyam Computer Services Ltd has informed that the Board of Directors of the Company have allotted 44,291 equity shares through circular resolution on September 30, 2005 under stock option plans of the Company.
Further the Company has informed that consequent to the above allotment, the paid up share capital of the Company has gone up from 321,921,051 equity shares of Rs 2/- each aggregating Rs 643,842,102 to 321,965,342 equity shares of Rs 2/- each aggregating Rs 643,930,684.


****************************

NTPC: News clarification
With reference to the news item titled, NTPC firms up oil exploration foray & India awards exploration blocks to NTPC, Jubilant respectively, National Thermal Power Corporation Ltd (NTPC) has clarified that, the Company has not received any official communication on this subject and has no other information except having learnt it from the news item.
Further the Company has informed that it will inform the correct position as soon as the Company receive official communication about award of Oil Block to NTPC Consortium.


************************************

Kakatiya Cement announces 20% dividend
Kakatiya Cement Sugar & Industries Ltd has informed that the Shareholders at the 26th Annual General Meeting (AGM) of the Company held on September 30, 2005, declared payment of Dividend at 20% i.e. Rs 2.00 per share.
************************************

Syncom Formulations announces 15% dividend
Syncom Formulations (India) Ltd has informed that the members of the Company at the 17th Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have approved the payment of dividend at 15% (Rs 1.50/- per share) on the Equity Shares of Rs 10/- each.
Further the Company has informed that the dispatch of dividend Cheques/DDs for the year 2004-2005 to all the members will start after October 01, 2005.


****************************************

Alps Industries members declare 15% dividend
Alps Industries Ltd has informed that the members at the 33rd Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have approved the following:
1. Adoption of Audited Balance Sheet as on and Profit & Loss Account for the year ended March 31, 2005, alongwith the Directors Report and Auditors Report thereon.
2. Declaration of Dividend on Equity Shares at 15% on the issued, subscribed and paid-up capital as on March 31, 2005.
3. Re-appointment of Mr. Rakesh Gupta, as Director of the Company.
4. Re-appointment of M/s. R K Govil & Co, as the Statutory Auditors of the Company till the conclusion of next Annual General Meeting.
5. Approval under Section 293(1)(a) have granted for mortgaging the fixed assets of the Company.
6. Approval for enhancement in the borrowing powers under section 293(1)(d) of the Companies Act, 1956.
7. Approval for the commencement and make amendment in the part III clause (C) under the heads Other Objects of the Memorandum of Association of the Company.
************************************************

Investors are need to cross check msgs before deciding (buy or Sell)

From

Arvind.K

HI Arvind,

You r doing n excellent job. Plz, could you tell me name of some good site which gives you instant news updates while intraday trades through ticker. I use Indiabulls and ICICI direct and both there services r not so fast in delivering news. Thanks.

regards
raju

 

[karvind79]

Dear Friends,

I am herewith enclosed LIst of Stocks which are enter into BUllish and Bearish.Seniors kindly post ur comments and it will improve my postings when i have any false concepts.

 

[karvind79]

Hi all,

In current scenario everybody is afraid of taking a call on the
markets. Retail nvestors are so feared that they think its the end of
India story and all stocks would come crashing down, news of a big
scam to be broken soon, market movers to be put behind bars etc etc

As many would have read that bulls markets is formed only on
pessimism and a bear market follows intense optimism.

Panicky situation, fear etc are a part and parcel of bull market.
If you are expecting a bull market to be stable and less volative
then I'm sure you not aware of how market works. There is high
degree of speculation in bull markets which brings in volatility.

I know people who invested during the tech boom and made good
profits despite the fact that markets came crashing down from 6000
to 3000 levels!!..they were people who were practical in their
investment approach.

I believe even in the current markets when index is at its peak
investors can make good money even if they spend little time and
do their homework well.

So before investing in any company try to find its business and
only invest if you are convinced about its growth story and
understand their current financial position well.

HOw to select a stock?? this is one question which many would be
asking. One method which I follow is a simple top down approach
which has really helped me. It is as follows:

Identify a industry which is at the bottom or close to bottom of
its industry cycle.

Industry should be such where there is no or less threats of
imports..in simple words it should not be linked with the global
economy...it should depend on the domestic demand and supply
situation.

It would be better if there is closure of capacities in the
industry by weak and small players, due to poor demand.

Identify a industry leader or a leading company which is debt
free or has little debt and which has not reduced or infact
increased its capacity.

Just invest in that company with some due diligence.

Would you make money?

I believe so.

Why?

Every industry has its own business cycle. When it is in on the
upswing people think it would never come down and when it comes
down people then think now it would never move up. But since
upturns and downturns are part of the cycle they would appear.

So be it any business you would see that if an industry is at the
bottom or is not doing well then after few yaers it would start
doing well. In an underpeforming or a downturn industry no new
capacities are added or infact weak players exit, which tilts the
demand supply scenario in favor of the manufactures.

Then why select only the leader or a leading company and why not
a small players where there are chances of 10 times or 100
times returns?

If the industry continue to do poorly for a period longer than
anticipated then that weak player might not sustain for long,
whereas the industry leader would be able to survive a very long
downturn.

So after capacities are closed or demand starts improving there
would be a time where demand might start outstripping supply and
manufacture would be able to earn much better margins.

In such scenarios I have seen there profits multiply by more than
10-20 times than they were during their poor years.

Has it happened before?

Yes and the best example would be the sugar industry.

Few years back most of the mills were running under losses,
co-operative sugar mills in maharashtra closing down. No imports.
No new capacities. Demand far lesser than supply. Indutry leaders
like Bajaj Hindustan and Balarampur chini mills were consolidating
their positions and were almost debt free or with little debt and
when the cycle changed they gave return of 1000% their profits
multiplied..made announcements of huge capex plans...started
predicting that upward cycle would continue for another 5-6 years.
Whether it would continue or not thats another debate. Thus
investors who took a call on the sugar indutry few back back must
have made good money.

Another example would be the hotel and FMCG industry.

Scenarios which I have outlined must be difficult to find in all the
Industry but atleast we can come somewhere close to it.

Do let me know if you come across such a business.


I get this from my friend and I Hope you find my mail helpful


From,

Arvind.K

 

[karvind79]

PSL likely to get HPCL project
PSL Ltd has emerged as a successful bidder for the coating contract of the Mundra-Delhi pipeline project of Hindustan Petroleum Corporation Ltd (HPCL). PSL is expected to receive an order of approximately Rs 72 crore for this project. PSLs first project with HPCL has already commenced at Varsana Works and is proceeding ahead of schedule towards completion
*******************************************

SBI MF hikes stake in Nagarjuna Construction
SBI Mutual Fund has acquired 2.5 lakh shares of Nagarjuna Construction Company Ltd (NCC) under its various schemes, aggregating to a 0.31 per cent holding in NCC. The mode of acquisition is market purchase and the date of purchase was September 22. The shareholding of SBI Mutual Fund after the said acquisition stands at 41,51,487 shares, aggregating to 5.22 per cent of the total share capital of NCC.
*************************************************

NALCO announces 40% dividend
National Aluminium Company Ltd (NALCO) has informed that the members at the 24th Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have declared a dividend at the rate of 40% (20% interim dividend already paid during February 2005 plus 20% final dividend) for the year ended March 31, 2005 on paid up equity share capital of the Company. The dividend warrants will be dispatched to the eligible shareholders around October 24, 2005
************************************

Wyeth to declare Q2 results on Oct 26
Wyeth Ltd has informed that a meeting of the Board of Directors of the Company will be held on October 26, 2005, inter alia, to consider and take on record the Unaudited Financial Results (Provisional) for the second quarter and half year ended September 30, 2005 (Q2).

**********************************************

Mirza Tanners members declare 20% final dividend
Mirza Tanners Ltd has informed that the members at the 26th Annual General Meeting (AGM) of the Company held on September 29, 2005, inter alia, have approved the following:
1. Annual Accounts of the Company for the year ended March 31, 2005.
2. Declaration of dividend including final dividend at 20% (Total 50%).
3. Re-appointment of Mr. Shahid Ahmad Mirza, Mr. N P Upadhyay & Mr. Saurabh Sapra as Directors of the Company.
4. Re-appointment of M/s Khamesra Bhatia & Mehrotra, Chartered Accountants as Auditors of the Company.
5. Appointment of Mr. P S Khamesra as Director of the Company.
6. Alteration of the Object clause of the Memorandum of Association of the Company passed through Postal Ballot.
7. Approval for Commencement of Business u/s 149 (2A) of the Companies Act, 1956.
8. Re-appointment of Mr. Irshad Mirza as Chairman, Mr. Rashid Ahmad Mirza as Managing Director, Mr. Shahid Ahmad Mirza, Mr. Tauseef Ahmad Mirza, Mr. Tasneef Ahmad Mirza & Mr. N P Upadhyay as Whole-time Directors of the Company.
9. Appointment of Mr. P S Khamesra as Whole-time Director.
10. Issue of FCCB or other instruments in international Market to the tune of USD 50 millions and with an option to retain oversubscription up to additional USD 50 million
*********************************************

L&T members declare dividend for FY-05
L****n & Toubro Ltd (L&T) has informed that the members at the 68th Annual General Meeting (AGM) of the Company held on August 26, 2005, inter alia, have accorded to the following:
1. Adoption of audited Balance Sheet as at March 31, 2005 and the Profit & Loss Account for the year ended March 31, 2005, together with the Directors Report and Auditors Report thereon.
2. Declaration of dividend at the rate of Rs 17.50 per share of Rs 2 each for the year ended March 31, 2005.
3. Re-appointment of Mt. R N Mukhija, Mr. B P Deshmukh, Mr. S Rajgopal, Mr. J P Nayak & Mr. Y M Deosthalee as Directors of the Company.
4. Appointment of Mr. M M Chitale as Director of the Company.
5. Re-appointment of Mr. J P Nayak as Whole Time Director of the Company, w.e.f. March 03, 2005 to November 12, 2008.
6. Re-appointment of Mr. Y M Deosthalee as a Whole Time Director of the Company for a period of five years w.e.f. March 03, 2005.
7. Appointment of Mr. K V Rangaswami as a Whole Time Director of the Company with effect from January 01, 2005 to February 07, 2009.
8. Alteration of Articles of Association of the Company with respect to Buy-back of shares.
9. Re-appointment of M/s Sharp & Tannan, Chartered Accountants as Auditors of the Company including all its branch offices for holding the office from the conclusion of this meeting until the conclusion of the next Annual General Meeting of the Company.

***********************************************

SBI denies stock split news
With reference to the news item tilted, Grapevine gives SBI lift, State Bank of India (SBI) has clarified that the Bank does not have any move for splitting of shares of the Bank as of now
**********************************************

From
Arvind.K

 

[stockfreak]

ITS GOOD TO BE BACK..hello all

SF

 

[Saint]

ITS GOOD TO BE BACK..hello all

SF

Hi Stock freak,

Welcome back.............


Saint

 

[karvind79]

Thios article is from moneycontrol

Shree Renuka Sugars -Published in 19.: Business of the Company


Shree Renuka Sugars is a fully integrated sugar company which focuses
on manufacturing, marketing and trading of sugar. It is also engaged
in power generation and ethanol production. The company was
incorporated in 1995 and in 1998 it acquired a sick mill with the
capacity of 1250 TCD (tons crushed per day) of Nizam Sugar Limited a
Government of Andhra Pradesh undertaking, situated at Hindupur in
Andhra Pradesh. After that a VRS was launched and all plant and
machinery with remaining employees were transferred to Munoli in
Belgaum in 1999 and the capacity was enhanced to 2500 TCD and a co
generation plant of 11.2 MW was set up. Commercial production of
sugar commenced in 1999, generation of power in 2000 and manufacture
of ethanol in 2002. Shree Renuka produces three products from
sugarcane which are sugar, ethanol and power. The manufacturing
process is such that sugar is produced both from sugarcane as well as
raw sugar. As a result the sugarcane mill operated for 208 days in
2004 and the refinery was operated for 200 days. The industry average
was 140 and 99 days respectively. Shree Renuka Sugars has the largest
sugar refinery in the country with a capacity of 1000 TPD. The
company focuses towards corporate sales and they constitute 68.35% of
sales in FY 2004. For the period 2001-2005 Shree Renuka exported
8.32% of total Indian sugar.

Financials

The turnover of the company has consistently grown from Rs. 285.83 mn
in 2000 to Rs. 35913.53 (for six months ended in 2005). The profit
after tax has also grown from a negative of 26.97 mn in 2000 to
196.66 mn in the six months ended 2005. The company has a total debt
of Rs.1480 mn and the share capital and reserves only stand at Rs.
464 mn, this is quite high and it shows in the Interest cost which at
69.93 mn is more than a third of the total income after tax. The EPS
for fiscal 2004 is 4.99 whereas for the preceding years it was 2.15
and 1.99.

Objects of the Issue

The primary objects of issue are increasing the cane crushing
capacity, increasing the distillery capacity, setting up a
cogeneration power plant and repayment of loans.
The expansion of cane crushing facility would take up most of the
money at 635 million and debt will be repaid to the extent of 98.6
million. The company intends to finance 1000 million out of the
planned expenditure of 1383.6 million from the fresh issue and
finance the remaining through internal accruals.

Key Risks

Sugar is a highly government regulated industry and it doesn't bode
well for sugar mills as they are forced to buy sugar at a certain
price and are forced to buy sugar from farmers within a distance of
15 miles from their mills. In times of shortage such as now this does
not have any negative impact but at times when the global sugar
production is high and its cheaper to import than to procure locally
the competitive edge of Indian producers will lessen in comparison to
their global peers.
There is a criminal proceeding pending against some directors and
legal and regulatory proceedings have also been initiated against the
company.
Sugar industry is cyclical in nature and is now currently in a boom
so any shares acquired for the longer term would be at a higher end
of the spectrum.
There is intense competition from the players in UP as the UP
government has constituted a policy by which transport subsidies and
other financial and non-financial incentives will be awarded to those
companies which make a minimum of Rs. 3,500 million investment in
their existing sugar mills in Uttar Pradesh or setting up new mills
in Uttar Pradesh. Such incentives and subsidies may allow Uttar
Pradesh sugar mills to supply sugar at lower prices.
Conclusion

The shares are being issued at a price of Rs.250 Rs.300 and the
issue is open from 7th October to 14th October. At an EPS of Rs.4.99
the P/E multiple works out to be between 50 and 60 which is very high
for a company in an commodity industry regulated by the government
and investors are well advised to stay away from the issue.


From,

Arvind.K

 

[karvind79]

CLARIFICATION ON PENNY STOCKS

September 30, 2005
Recently, news items have been appearing in print and electronic media on the rise of penny stocks. In a section of the media the movement of BSE Small Cap Index was identified with penny stocks. It was also reported in a section of media that the Exchange is not taking action for fear of loss of listing fees and turnover. In this regard, the Exchange would like to clarify as under:

There is no standard definition of penny stocks. However, it is generally understood to be of stocks, quoted below Rs.10/-. The Exchange has taken several surveillance measures and actions to contain unwarranted exuberance in penny stocks, which is discernible. Some of the measures taken by the Exchange to contain the unwarranted exuberance in stocks are given below:

The Exchange has shifted to trade-to-trade segment (T & TS Group) more than 900 scrips (the highest ever) to contain price rise and excessive speculation.

Circuit Filters have been reduced in as many as 1200 scrips (the highest ever to contain spurt in prices) in the month of August 2005. Further, w.e.f. 21st September, 2005, the Exchange had reduced across T, TS & Z group the circuit filter limits to 5% the effect of which can be seen from the statistics given below:



Period (12/9/05 to 20/9/05)

No of Scrips Hitting Filters

Group
Advances
Declines
Upper
Lower

T
356
133
83
28

Z
124
99
49
21

Period (21/9/05 to 28/9/05)

No of Scrips Hitting Filters

Group
Advances
Declines
Upper
Lower

T
164
643
51
409

Z
38
140
19
97


The Exchange had also levied 100% VaR margins on all scrips trading in Z and Trade-to-Trade groups w.e.f. 8 th August 2005. It has substantially increased the cost of dealing in these scrips.

The Exchange also shifts companies, which are not complying with the Listing Agreement Clauses to Z GROUP, and eventually suspends on their failure to comply. Out of 1827 companies in Z group 1246 companies have been suspended. Only 581 companies are not suspended of which on an average 200 companies are traded on any given day. The daily contribution of the Z group to the total turnover on an average is less than 0.5%.

It may be noted further that small cap index has a total number of 495 companies of which 4 companies are in A group, 290 companies are in B1group, 42 companies are in B2 group, 63 companies are in T group and 96 companies in S group. These companies belong to SME segment of the Indian Economy. Equating movement of small cap index with the movement of penny stocks does not represent correct interpretation and correlation.

None of the scrips classified as `Z' group are included as a constituent in any of the indices of BSE.

It is to be noted that the annual listing fees collected from the companies in Z group is less than 1 % of the total revenue of the Exchange. Further, the contribution of Z group scrips is only 0.5% of the total turnover of the Exchange, which hardly results in transaction revenue to the Exchange. The Exchange had compulsorily delisted 885 companies till date.

It is to be noted that the stocks in T group may not necessarily be penny stocks. The shift into T segment is done as a market surveillance measure to contain excessive exuberance. It is for the investors to take informed investment decisions based on publicly available information keeping in mind their risk profile.

As a proactive measure to contain market manipulation a toll free number has been installed where anyone can report any information about market aberrations.

We once again urge the investors to exercise due caution and to take informed investment decisions as investments in stock markets are not risk free. Further, investors are also advised not to fall prey to claims of guaranteed returns in the stock market.

Issued in the interest of the public in general


FROM,
Arvind.K