Company:Gujarat Apollo Industries Ltd
Gujarat Apollo Industries Ltd has informed Bombay Stock Exchange(BSE) that a meeting of the Board of Directors(BOD) of the Company will be held on Monday, August 24, 09, to consider the Audited Financial Result for the year ended March 31, 09 and to consider the declaration of Dividend and any other business if any.
Switzerland based Glenmark Pharmaceuticals is a subsidiary of Glenmark Pharmaceuticals India (GPL) said that its molecule under development Oglemilast has failed to give up positive results in clinical trials for Chronic Obstructive Pulmonary Disease (COPD), a sharp form of smoking induced lung disease.Glenmark had licensed the potential drug to US-based Forest Laboratories, who was conducting clinical trials to develop the drug for COPD and asthma.
“Oglemilast is an orally administered PDE 4 inhibitor, which we consider to be an important and novel therapeutic target for COPD. We are, of course, disappointed that Oglemilast has not been successful in this study,” said Howard Solomon, Chairman and Chief Executive Officer of Forest Laboratories.this molecule is also undergoing trials to check if it can be useful in treating asthma. "The results are expected during the 1st quarter of 2010. We are considering together with Glenmark what further action would be helpful or suitable," said Solomon.
Gold’s demand in the recession - hit economies including the US and EU recovered in the 2nd quarter which was well supported by the about 40 % spurt in overall Chinese consumption, thereby, showing a recovery in worldwide retail investment demand of 12 % at 165.7 tonnes.While global jewellery demand slipped by 22 per cent at 404.1 tonnes thus, taking an overall utilization at 569.7 tonnes in the 2nd quarter of the current year, 14 % lower than the same period previous year.but gold demand in India improved from the exceptionally weak level witnessed in the previous quarter, but remained well below of the level in the corresponding quarter of the previous year.
BPTP outbid DLF for a area of land in Noida near Delhi with a Rs 5,000-cr offer. BPTP quoted the highest sum for the site -- Sector 94 running along the Noida and Greater Noida Expressway -- bidding at Rs 1,30,207 per square metre, followed by the country’s largest real estate company DLF which quoted Rs 1,17,000 per square metre and Omaxe at Rs 80,100 per square metre. BPTP’s winning bid was nearly 70% more than the reserve price of Rs 2960 cr for the land parcel. But the deal was called off after BPTP failed to arrange funds to finish the deal.
The 2 day BSNL strike had no impact on telecom services on the first day on Wednesday. According to an official press release, sufficient arrangements have been made to make sure stress-free telephone services to the customers. A control room has been set up in Delhi to monitor the situation and similar control rooms are operated at state and district headquarters. Responding to the demands of the striking employees, official sources said, the demand of amalgamation of Group-A officers is likely to be finalized soon. An official spokesman claimed only 2,400 executives out of 55,000 were on unauthorized absence since Tuesday night. The spokesman said the processes of wage revision of non-executive employees are already in progress and claimed that only 50% of the employees of this group are with the association that has gone on strike.
Name of the scrip: GSPL futures
Target :Rs 90
Stop loss :Rs 72
Name of the scrip:Adlabs
Target :Rs 328
Stop loss :Rs 308
Jindal Cotex Ltd is incorporated in 1998, Jindal Cotex Limited is in the big business of manufacturing of Acrylic, Polyester, and Polyester-Viscose, Polyester Cotton, combed and carded yarns, which are suitable for apparels, suiting’s & knitted fabrics.Jindal Cotex has installed capacity of 23,472 spindles for acrylic, cotton blended and polyester yarns. Company produce and sell yarns under the trade name 'JINDAL'.Jindal Cotex has also installed and specially made a Suzlon make Wind Electric Generator (Wind Mill) of 1250 KW capacity at Pithla-Satta-Gorera in Distt. Jaisalmer, Rajasthan. The entire power generated through this wind mill will be sold to Ajmer Vidyut Vitran Nigam Limited.
Jindal Cotex Ltd IPO
Details of IPO
Open: August 27,2009 to September 01, 2009
Type: 100% Book Built Issue (Initial Public Offer IPO)
Size: 1,24,53,894 Equity Shares of Rs. 10/-
Face Value: Rs. 10/-
Price: Rs 70/- to Rs 75/-
Max Subscription Amount for Retail Investor: Rs 100,000/-
Listing: Both BSE and NSE
Lead Manager: Saffron Capital Advisors Private Limited
Registrar: Bigshare Services Private Limited (Ph: +91-22-28470652 Email: firstname.lastname@example.org)
Nowadays, you can see compact satellite dishes installed on rooftops all over the United States and this satellite dishes are getting popular from other countries also. Drive through rural areas beyond the reach of the cable connections, and you'll find dishes on just about every house. Did you heard about DIRECT SAT TV? No problem. I got some information from my friend who is using this Direct Sat TV for his business and he is making good profit with the help of this Commercial Direct TV concept.
I would like to share the information with you people so that you can also make use of it. Do you know what is mean by Direct TV Business? DIRECTV offers a wide variety of programs to create the perfect environment for your business, including sports, music, news and more. This is called as Direct TV Business. For business’s such as Salon, Bar, Casino, Lounge, Bank, office, Retail store, Gym can use this Direct TV Business for improving there business.
Direct Sat TV has many advantages compared to cable TV. Though satellite TV technology is still evolving, it has already become a popular choice for many TV viewers. There are lot of differences between the satellite TV from cable and over-the-air broadcast TV. They are promising of the high quality picture and sound.
DIRECT SAT TV is the one of the most important authorized dealer and they have different Programming categories such as ARTS & ENTERTAINMENT,FAMILY & CHILDREN,HD PACKAGE,MOVIES,MUSIC,NEWS,SPORTS and etc…Depend upon your business you can choose your programming category. Make use of this Direct T V Business and promote your business and make good profit.
FIIs have made a net investment of just Rs 264 cr in the domestic stock markets in Aug 09.Analysis of FII actions in the Indian stock markets shows that overseas investors are, so far in August, a net purchaser of domestic stocks worth Rs 264.6 cr. FIIs made a gross purchase of shares worth Rs 22,821.2 cr, while they sold equities valued at Rs 22,556.6 cr, resulting in a net investment of just Rs 264.6 cr, according to the data available with market regulator Securities and Exchange Board of India (SEBI).
However, it seems that during the period under review, the Indian debt market became a preferred choice for overseas investors as the segment attracted a net investment of nearly 2,200 cr. FIIs, so far this month, have made a gross buy of Rs 4,939.90 cr in the debt market, while they pulled out a gross Rs 2,742 cr from the sector, which resulted in a net investment of Rs 2,197.90 cr, according to the SEBI’s data.
In recent sessions, Indian stock markets witnessed unstable trading and during the same period, the BSE’s benchmark index fell 1.65%.According to the SEBI data, so far this year, FIIs' inflow in stock markets has crossed Rs 35,000 cr.However, this year in the debt market, they have still not turned a net buyer. Till now, they are net sellers of debt instruments worth Rs 1,145 cr.
Indian stocks trading on American bourses lost over one billion dollars last week, with IT bellwether Infosys accounting for more than half of the total loss. For the week ended August 14, Indian entities listed on two US bourses --the New York Stock Exchange and Nasdaq-- shed $1.44 b from their total market capitalization. Infosys' valuation alone plunged by $961 m.Besides Infosys, two other major losers were banking majors -- ICICI Bank and HDFC Bank. Two lenders, in total, lost $673 m.
The valuation of telecom firm MTNL fell by nearly $76 m, while that of drug maker Dr Reddy's declined by $55.6 m. Besides, outsourcing firms WNS Holdings and EXLService too witnessed an erosion of $50 m in their midcap. The pack of losers includes IT firms Mahindra Satyam and TCS which shed $13.40 and $4.4 m respectively. Rediff.com declined by nearly $5 m.Apart from that Wipro, auto sector Tata Motors and Sterlite were among the pack of six companies, which gained during this week.
Sterlite Industries led the gainers pack and added $134 m in its market capitalization, whereas Wipro and Tata Motors added $74 and 58 m, respectively.On Friday(Aug 14th), the US markets ended in the red with the Dow Jones Industrial Average (DJIA) settling down by 0.82 per cent to 9,321.40 and S&P 500 ended at 1,004.09, down 0.85 per cent. Besides, tech heavy Nasdaq by fell 1.19 per cent to 1,985.52 points.
The short-term tendency is down since the recent peak of 15,940. The downward setback from 15,545 last week reinforces the negative short-term view as does the 10-day ROC’s decline in to the negative zone. We maintain a neutral medium-term view with the possibility of a move between 13,000 and 16,000 for a few more weeks.
Decline below 14,244 will make the Sensex head towards the medium-term support zone between 13,000 and 13,200. Long-term investors however need not worry unless there is a weekly close below 13,000.The week ahead promises to be uneven. The Sensex can decline to 14,741 or 14,244 in the near-term. Short-term investors can hold their long positions as long the index holds above the second support. The short-term trend will turn positive if there is a close above 15,600 in the early part of the week. Upward target would be 16,002, 16,179 and 16,421
Now a days everybody is thinking about starting a business and after starting they are start thinking How to make profit in business? How to maximize it? This is one of the important question came out of all marketing and business persons mind. one of the important way to promote our business is advertisement. there are lot of types are there in advertisement. I am going to describe you one of the best way. Participating in exhibition or trade show exhibits type of advertising is one of the best way to promote your business.
At the same time our table top display should have a nice look, so that customers will get noticed and attracted towards our stall, then will we will get some customers and we can make some money out of our business and we can maximize our profit also. For getting this table top display what we have to do?
No problem at all. Camelback displays is the one of the best company to provide trade show exhibits, table covers and table top display. they are very professional and they have very good customer base and design engineers also They have experienced workers, skilled designers, craft man.
They are making custom printed table covers also. When customer is coming to our stall, he will sit in front of the table .so table covers play an important role in exhibition. All our company logo mark, artwork with different colors and text message printed on them. Camelbackdisplays are one of the leading trade show exhibits makers. They have a new type of attraction called directors chairs. directors chairs is nothing but a chairs with our advertisement message or logo printed on it. so when customers sitting in the chairs they will look into it. this will also help you to promote your business.
Sun Pharma ltd has announced that US FDA has granted approvals for two ANDAs, generic version of Eloxatin, oxaliplatin for injection and generic version of Imitrex, sumatriptan succinate tablets.this is really the great milsstone for sun pharma and they have achieved it.From this approval they will be able to make good results in the coming quarters. Also announced that it will share 180days exclusivity for generic version of Eloxatin. Oxaliplatin injections have annual sales of approximately $2.3 billion in the US.
Oxaliplatin is an anticancer used in the treatment of colon and rectal cancer. Patent on the Eloxatin is set to expire in 2013.
We believe the news of 180 share exclusivity on Eloxatin is a positive surprise and could lead to 3-4% upside to our Target Price. However, at Rs1,206 the stock is trading at 19.4x FY2010E and 16.3x FY2011E earnings.
We recommend a NEUTRAL on the stock as we believe the US FDA issue is unlikely to get resolved soon and will impact the company’s US business (lower sales of distributed products and further inventory write downs) and would continue to be an overhang on the stock.
India's one of the leading IT and BPO services provider Mphasis today said it is set to acquire AIG Systems Solutions (AIGSS), part of the troubled insurance giant American International Group Inc(AIG), for an undisclosed amount.
Mphasis has reached a definitive agreement to acquire AIG Systems Solutions, an India-based provider of information technology services and solutions to AIG companies worldwide, Mphasis said in a filing to the Bombay Stock Exchange(BSE).
The company, however, did not disclose the exact financial details of the deal.
"This acquisition gives Mphasis the depth and breadth for us to be the preferred partner of choice in their IT transformation," Mphasis President Applications Services Business Unit Gopinathan Padmanabhan said.
The transaction is subject to legal and statutory requirements.
The script of Mphasis reacted positively to the news and increased over 4 % in morning opening trade to Rs 522. It was later trading at Rs 503, up 0.54 % on the Bombay Stock Exchange(BSE).
Those who are doing some business, they are struggling for many things such as warehouse problem, inventory and assembling unit problem like that. There are lot of third party companies are taking care of warehousing, assembly and fulfillment services such as order fulfillment, now I am going to describe about one of the third party company named AMS. AMS is taking care of all company related logistics work and other assembling and etc…
What is AMS? AMS means Advantage Media Services (AMS).one of the leading third party company for warehousing. Their approach is really different from others. Customers or clients very special to them their satisfaction is more important than money .AMS is not only concentrating on Warehousing, apart from this they are in assembly, fulfillment services, inventory management. They help their clients succeed by staying within budget, and taking great care of the clients' inventories.
AMS is having some advanced operating systems, refined processes and controlled overheads to keep expenses within budget and inventory safely protected from losses and damages. AMS is the one and only warehousing and fulfillment services company that offers On Guard Inventory Protection, a safeguard for total inventory management and product fulfillment precision.They offers solutions for both Business-to-Business (B-2-B) and Business-to-Consumer (B-2-C) clients, including Pick and Pack, Product Fulfillment and Distribution, Pack-out / Assembly, Order Management, Inventory Management, Logistics and Returns Processing services.
- We maintain our Buy recommendation on the stock with revised price Target of Rs450.see the highlights of the quarter results of corporation bank
- The net interest income came in at Rs467.5 cr, up by 23.7% yoy and 9.2% quarter on quarter (qoq) on account of healthy 21.6% year-on-year (y-o-y) advances growth coupled with stable net interest margin at 2.26% (reported), up marginally by 7 basis points qoq.
- The non-interest income increased by staggering 128% yoy to Rs359.3 cr mainly driven by strong treasury gains during the quarter. The bank recorded treasury gains of Rs185.4 cr in the quarter, a stupendous 46 times higher than that of Rs4.5 cr in Q1FY2009. Furthermore, leveraging of strong technology platform and better pricing of banking services resulted in a robust 38.3% y-o-y growth in core fee income.
- The operating expenses grew by 19.1% yoy and 3.6% qoq to Rs255.6 cr led by 23.4% yoy and 11.6% sequential increase in staff expenses. Meanwhile the other operating expenses grew by 15.8% yoy.
- The provision expenses grew sharply by 53.7% yoy to Rs155 cr as the bank utilized high treasury gains to shore up its loan loss coverage. The non-performing asset (NPA) provisions increased sharply by 71.4% yoy to Rs60 cr during the quarter. Meanwhile the other provisions spiked up to Rs66 cr from Rs5 cr in Q1FY2009, as the bank made provisions worth Rs53 cr towards wage revision and Rs13.5 cr towards sacrifice in restructured accounts.
- The asset quality deteriorated during the quarter, as the gross non-performing assets (GNPA) increased by 6.3% yoy and 9.4% qoq to Rs611.6 cr. In tandem the GNPA in percentage terms (% GNPA) inched up to 1.29% in the quarter versus 1.14% in Q4FY2009, while the percentage of net non-performing assets (% NNPA) stood at 0.32% in the quarter under review vis-à-vis 0.29% in the previous quarter. Driven by higher loan loss provisions made during the quarter, the provision coverage ratio improved to 78.6% from 75.8% in the previous quarter.
- During the quarter, the bank restructured loans worth Rs1,362.6 cr, slightly higher compared with Rs1,280.3 cr worth pending applications for restructuring as on March 31, 2009. The total restructured assets now stand at 5.1% of the total outstanding loans, which is largely in line with the quantum of restructuring done by its peers.
- The business growth during the quarter was healthy and well ahead of the industry growth. The advances grew by 21.6% yoy to Rs47,378 cr, while the deposits grew much faster at 31.8% yoy to Rs72,127 cr. However, the current account and saving account (CASA) deposits fell sharply by 27.6% sequentially, thereby leading to an over 800 basis point sequential and 400-basis-point y-o-y contraction in the CASA ratio to 23.3%.
- As on June 30, 2009, the bank remains well capitalized as its capital adequacy ratio (CAR) improved to 16.29% (as per Basel II), with a tier-I ratio of 9.63%. Corporation Bank by far has the best capital adequacy among its peers and a strong tier-I ratio leaves the bank with ample headroom to raise tier-II capital.
The Government, on Thursday, announced the immediate release of a subsidy of Rs 2,546 cr for the textile industry under the Technology Up gradation Fund scheme (TUFs) to support its modernization efforts for meeting market challenges and enabling it to stay competitive in quality and price.
Announcing this at a news conference here, the Union Textile Minister, Mr Dayanidhi Maran, said it is for the first time that such a large amount of subsidy is being released in a single shot. He said the amount would be credited to bank accounts of beneficiaries in the record time of 3 working days. With this release, the subsidy would be cleared up to June 30, 2009. In 2008-09, the Government released Rs 2,632 cr under the scheme.
Under TUFS, the Government extends 10 per cent capital subsidy and 5 % interest subsidy on installation of machineries and for giving out machinery as well by the various segment of the textile industry.As Rs 3,150 cr has been provided in the Budget for release to the industry under the scheme, Mr Maran said with the release of the bulk amount now, the Ministry of Textiles would seek the intervention of the Prime Minister and the Finance Minister for more funds to the industry for the remaining part of the fiscal. Out of the total subsidy of Rs 2,546 cr, Tamil Nadu corners the substantial chunk of Rs 643 cr by 3,286 applicants, followed by Maharashtra at 1,186 applicants for Rs 637 cr, Punjab for Rs 352 cr by 1,543 applicants and
The Minister also announced the setting up of a 41-member Group under the Chairmanship of the Textiles Secretary, Ms Rita Menon, to came out with a National Fibre Policy, designed to make