| Newsletter dated 21/01/2007 (10paisa.com) | ||||||||||||||||||||||||||||||||||||
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| Target rates are expected in three months frame of time, but we recommend you that whenever any scrip touches its target rate, you must dispose of all shares or in parts(If you have invested in that scrip),so that you may be able to invest those funds in other scrips recommended in further newsletters. |
| Newsletter dated 21/01/2007 (midcaps.in) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Target rates are expected in three months frame of time, but we recommend you that whenever any scrip touches its target rate, you must dispose of all shares or in parts(If you have invested in that scrip),so that you may be able to invest those funds in other scrips recommended in further newsletters. 1. FORTHCOMING I.P.O.'s :-
Rating:- *** Very Good ** Good * Normal 2. SECTORS TO WATCH :-
15/01/2007 Hydro S & S Industries Ltd. Hydro S&S Industries Ltd has announces its plans to establish a new manufacturing facility at Pune. The Company is a major vendor of specialized compounds (branded 'HYFIL') for Automotive Plastics for Hyundai, Tata Motors, General Motors etc. These compounds also find application in the Appliance and Furniture segments. Automotive applications include Bumpers, Instrument panels, Pillars and Side Trims and other interior & exterior plastics. The product range also includes Thermoplastic Elastomers and Pultruded profiles. The Company currently has two compounding facilities at Pudukottai (near Trichy) and Pondicherry with a processing capability of about 18000 MTs per annum. With both plants equipped with QS 9000 and TS 16949 certification, sales to the auto sector constitute more than 85% of its output with its materials being used in all the high volume cars manufactured by these auto majors. With the expansion of General Motors, Mahindra & Mahindra, the re-entry of FIAT and the new project of Volkswagen in the vicinity of Pune, the Company is proceeding with creating a third facility in the Pune belt to handle the increasing requirements of these OEMs. The Company informs that this facility will initially have a annual capacity of 6000 MTs with plans to enhance the same dovetailed with the capacity increase of the OEMs. 'The creation of this facility will allow Hydro S&S to provide enhanced levels of delivery performance and application support to our moulders and OEMs apart from ensuring locational and logistical benefits', states a Company spokesman. 'This manufacturing facility will become operational by March 2008'. 15/01/2007 Reliance Petroleum Limited Reliance Petroleum Ltd has announced that the Company has successfully completed the first year of implementation of its world-class complex refinery, being built in a special economic zone at Jamnagar. The refinery project was kicked off in December 2005. The refinery project has made rapid strides on all, implementation fronts, including physical progress at the site and has achieved several key milestones during the first year itself. Significant accomplishments since the project kick-off include the following: - All statutory approvals, including SEZ approvals, have been obtained. - The equity financing of the project was completed through a highly successful IPO that established several new records in the Indian capital markets. - Through successful global syndication, the Company obtained commitments for US$ 2bn of debt, which is the largest foreign currency financing for any single project from India. - The Company concluded a strategic partnership with Chevron. - Basic engineering and a major part of detailed engineering is complete. - All long lead and critical equipments have been ordered and remaining procurement /contracting activities are nearing completion. - Construction work at site has taken-off and is progressing at a rapid pace. The fast track implementation of the project has led to substantial change in the skyline of the project site with civil, structural and mechanical works in full swing. The Company has developed sufficient site infrastructure to sustain construction on fast track and is ready to receive peak implementation workforce required for the project. The Company has thus set a perfect launch pad for creating new industry records for project implementation and is well on its way towards scheduled completion by December 2008. The engineering progress achieved thus far has been commendable. Nearly two-thirds of detailed engineering work is complete and a substantial part of concrete, underground and structural steel drawings have been released to the site. A massive 3D site modelling effort is underway and is expected to provide benefits of superior engineering quality, reduced construction interferences and minimum rework at site. Over 7,500 engineers are working on the project at several interconnected locations across the globe. On the procurement front, the Company has made significant strides. All long lead and critical equipments have been ordered and a substantial part of overall procurement and contracting activities has been completed. Equipment deliveries have commenced and more than 80% of structural steel and a significant part of piping materials have also been delivered to the site. Emphasis has now shifted towards vendor monitoring and follow-up or ensuring compliance with quality and delivery commitments. The construction activities have gained further momentum with over 600,000 cubic meters of concreting already completed (equivalent to several scores of skyscrapers). The month of December 2006 witnessed the creation of a flew record with over 168,550 cubic metres of concrete poured in a single month. Through this, the Company has even surpassed the record created during the implementation of the RIL's refinery at Jamnagar. Structural works have taken off with more than 30,000 tonnes of steel and tankage fabrication work a completed. At the industry level, the global refining fundamentals remain intact and promise exciting value creation opportunity for complex refineries. The continuing shortage of global refining capacities coupled with tightening product specification, slow growth in desuiphurization capacities and widening light heavy differentials is expected to result in widening demand supply gap for transportation fuels globally. Buoyant outlook for the global economy augurs well for petroleum products demand and reinforces confidence on the long term prospects for the sector. Commenting on the progress Mr. Mukesh Ambani, Chairman of the Company said, 'I am extremely encouraged by the rapid progress made by RPL on all aspects during the first year of implementation. The substantial progress achieved at site gives me further confidence that the refinery is well on its way towards scheduled completion by December 2008. RPL is well positioned to capitalise on the emerging opportunities in the sector and create superior value for its shareholders'. 16/01/2007 Aarvee Denims & Exports has signed an MoU with the Government of Gujarat for setting up cotton yarn spinning facility, for Rs 212 crore, in the Vibrant Gujrat Global Investors' Summit 2007 on 13 January 2007. 17/01/2007 California Software Company's board will meet on 23 January 2007, to consider the un-audited financial results for the nine months / third quarter October-December 2006.Accordingly , the board will also consider proposal for amalgamation of company's wholly owned subsidiary Webspectrum Software with the company.Further, the board will accord the allotment of 5,55,556 equity shares on preferential basis, pursuant to members approval in the EGM on 9 January 2007. 17/01/2007 Chennai-based computer manufacturer CCS Infotech has bagged cumulative orders worth Rs 1.02 crore from educational institutes to supply and maintain computers, high end servers and laptops, according to a press release.This includes Rs 45 lakh from Kochi University, Rs 32 lakh from Velammal Engineering College and Rs 25 lakh from a Chennai-based engineering college, said the release. 17/01/2007 At the board meeting held on 16 January 2007, Damodar Threads has approved right issue of shares in the ratio of one equity share for every one existing equity share. 17/01/2007
Due to the non-allotment of mining rights of iron ore by the Government of Orissa, Kamdhenu Ispat has disposed off the 81.61 acres of its land situated at Jharsuguda, Orissa, for Rs 90.15 lakh (cost of acquisition was Rs 103.40 lakh comprising cost of land of Rs 69.73 lakh and CLU etc. of Rs 33.67 lakh).The above mentioned land was acquired in the year 2004 for undertaking a project for manufacturing of sponge iron in the process of backward integration. 18/01/2007 At the board meeting held on 18 January 2007, Centurion Bank of Punjab has allotted 7.50 crore equity shares of the face value of Re 1 each at a price of Rs 24.54 per share (premium of Rs 23.54 per share) on a preferential basis, aggregating to Rs 184.05 crore to India Advantage Fund V through its trustee. The Western India Trustee & Executor Company and acting through its investment manager, ICICI Venture Funds Management Company. IDBI has increased the interest rates on Suvidha fixed deposit, across all maturities, by 25-75 basis points, effective January 17. Deposits up to Rs. 15 lakh, with a maturity of 1-3 years under the scheme will carry an interest rate of 8 per cent against 7.25 per cent or 7.50 per cent earlier.Term deposits above Rs 15 lakh and up to Rs 100 lakh will now fetch a higher interest rate of 25-50 basis points. The maximum rate of interest that IDBI would now offer in the case of such deposits is 8.75 per cent (8.50 per cent) on term deposits of between five years and up to ten 10 years' maturity, said an official press release by the bank. 18/01/2007 IFCI said on Wednesday that it would sell its holding of 21 per cent along with eight per cent holding of the Specified Undertaking of UTI in rating agency ICRA through the latter's IPO. 18/01/2007 The board of directors of BAG Films, which met on January 15, 2007, cleared a proposal to issue 2.025 crore of Rs 2 each at Rs 13 per share to New Delhi-based Sameer Gehlaut.Sameer Gehlaut is one of the promoters of New Delhi-based brokerage and real estate firm Indiabulls. Pritish Nandy Communications' board at the meeting held on 17 January 2007, has approved to increase the authorised share capital to Rs 20 crore comprising of 2 crore equity shares of Rs 10 each.Accordingly, board has approved to raise Rs 50 crore through qualified institutions placement (QIPs).Meanwhile, board has also accorded to issue 15 lakh equity share warrants, on preferential basis, carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 10 each to Ideas.com India and Artinvest India.Further, board approved to hold an extraordinary general meeting (EGM) on 14 February 2007 for approving the above. 18/01/2007 Sona Koyo Steering Systems' board at the meeting held on 7 December 2006, has allotted 4,396,700 equity shares of Rs 2 each and 7,040,216 convertible warrants at the issue price of Rs 67.10 per share / warrant, on preferential basis, to the promoters and the collaborators, pursuant to the resolution passed at the EGM held on 22 November 2006. 6. MUTUAL FUND'S SCHEME :-
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