Market Today

The Sensex ended the day on a positive note. Auto, realty and metal stocks gained ground, while PSU edged lower. It opened with a loss of 9.39 points, at 15,000.38 on Tuesday tracking global cues. It pared all its early losses and moved up into the positive territory on the back of buying interest seen in frontliners. It continued to trade on a firm note till after noon trades. However, the index shed gains and again fell into the negative territory, to bounce back into the positive zone. Even opening of positive European market added fuel to the sentiment.

BSE Midcap and Smallcap index rose 1.10% and 0.55% respectively.

Among the sectoral indices, BSE Auto surged 3.07%, Realty and Metal gained over 2% each, while PSU dipped 0.02% respectively.

Asian stocks rose for a second day as earnings reports and brokerage upgrades boosted confidence that corporate profits are recovering from the global recession. Japanese benchmark index Nikkei gained 61.20 points, or 0.58%, to end at 10,585.46. Hong Kong`s Hang Seng index picked up144.69 points, or 0.69%, to close at 21,074.21. China`s Shanghai Composite gains 14.97 points, or 0.46% to settle at 3,264.73

European stocks rose as Resolution agreed to buy Friends Provident Group and a report showed the UK housing market improved in July, fuelling speculation the recession is ending. UK`s benchmark index FTSE 100 declined 8.06 points, or 0.17%, to trade at 4,714.14. French benchmark index CAC 40 rose 2.02 points, or 0.06%, to trade at 3,506.56. Germany`s benchmark index DAX dropped 22.82 points, or 0.42% to trade at 5,395.30. (4.10 p.m., IST)

The Sensex ended the day with a gain of 64.82 points, or 0.43% at 15,074.59 after touching a high of 15,218.65 and a low of 14,864.23. The broad-based NSE Nifty gained 33.70 points, or 0.76% at 4,471.35 after hitting a high of 4,510.80 and a low of 4,398.90.



Major gainers in the 30-share index were Tata Motors (6.81%), Mahindra & Mahindra (3.55%), Hindalco Industries (3.38%), Maruti Suzuki India (3.23%), Bharti Airtel (2.23%), and Tata Power Company (1.81%).

On the other hand, Jaiprakash Associates (2.64%), Housing Development Finance Corporation (1.11%), NTPC (0.88%), Oil & Natural Gas Corporation (0.70%), Wipro (0.64%), and ICICI Bank (0.38%) were the major losers in the Sensex.

Overall market breadth was mixed. Out of the total 2,733 stocks traded at BSE, 1,356 advanced, 1,282 declined while 95 remained unchanged.

Shares of Indian drug firms that make the generic version of Roche`s Tamiflu, used to treat H1N1 flu, rose 5-19% on Tuesday as the death toll from the pandemic in the country rose to eight.

The H1N1 virus, commonly known as swine flu, emerged in April in the United States and Mexico, and has spread globally.



Indices Trend
Sensex Nifty
Period Value % Change Value % Change
1 Week 15,924.23 (5.34) 4,711.40 (5.10)
1 Month 13,504.22 11.63 4,003.90 11.67
3 Months 12,158.03 23.99 3,681.10 21.47
6 Months 9,618.54 56.72 2,925.70 52.83
1 Year 14,724.18 2.38 4,430.70 0.92

Back from RAKHI vacation .. fighting with cough

A vacation is now over, and i am back in Mumbai ( gisipiti life, no sports :-(
still remember this vacation, some good things happened and some bad things also happened ( as always with me )
the good thing is "Bhamri got visa to UK , and he will go London now, lucky man, but interesting thing is that he don't know English, but he understand what other person want to say, but he has problem with speaking, but over the time,he will learn, after all santokpura na loko ma ek anokhuj junoon hoy che...

the second good thing happened is " maulik ( manya varo ) went to london, and i think he has already settled there, and he will help bhamri to settle there... great man

every one is going abroad, everyone was asking me " don't you want to abroad " and i as usual said them " i have 2 years contract with the company, so i cant leave it ".

journey to home:

took a train dehradun express from bandra station 11:35 PM, ( saved money by taking BEST bus than taking auto from kurla.... wah..!!! ) and reached vadodara at around 7 pm. from baroda i took a bus to borsad, and then took auto to santokpura ( no attractive girl found in whole journey ,,, how sad ... )

HAPPY RAKSHABANDHAN

whent home, taked with mom, mom said me about all the things ( fight between two families ) and i said i don't want to listen all this things coz when i come home she always discuss only this things. but then she started crying and so i talked with her for few moments and then dad came.

dad told me to go and meet daji coz he was not well. i went to jayeshbhai's home and talked with daji, motiben and all and came back home. furniture work at home was over and now my home looked like a home... hashhh... then motiben and kiranben and jetal came home, tied me rakhi. Haven't got rakhi of nirali yet..... and no hope of her rakhi also, she messed everything up... totally


now next day, bhamri took me to anand to take visa parcel, she got visa, and we decided to watch " LUCK " movie. we watched it and that is where my fever was started. AC in theater was full and i was shivering with cold ( despite of that i drank pepsi and watched whole movie. In evening went to petlad with mom at saibaba mandir, and i decided to take medicine from SONI's hospital. Took medicine and went to mama's home.

Thermax -- Dissappointing q1 result

Thermax Limited has announced the unaudited financial results for the quarter ended June 30th 2009.

It has posted a net profit of INR 464.901 million for the quarter ended June 30th 2009 as compared to INR 637.091 million for the quarter ended June 30th 2008. Total income has decreased from INR 7271.543 million for the quarter ended June 30th 2008 to INR 5478.852 million for the quarter ended June 30th 2009.


Thermax’ Q1FY2010 results have been disappointing on all fronts with its both revenue and profits sharply lower than expected.

The net income from its operations declined 25% year-on-year (y-o-y) to Rs537.6 crore during the quarter. Both the energy and the environment division have reported a decline in their revenues: a drop of 23.3% and 29.9% respectively.

On the operating profitability front, the operating profit of declined by 24.4% to Rs68.9 crore, translating into an operating profit margin of 12.8% (up ten basis points y-o-y). The profit before interest and tax (PBIT) margin of the energy division dipped 150 basis points to 12.4%.

The other income remained more or less flat (a growth of 1%) at Rs10.3 crore. The interest cost increased by 80.2% while the depreciation charge rose by 36.4% to Rs9.5 crore. Consequently, the net profit declined by 27% to Rs46.5 crore during the quarter.

The consolidated order book of the company increased to Rs3,426 crore in Q1FY2010 from Rs3,078 crore at the end of Q4FY2009.

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ABOUT
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Thermax Limited is a global solution provider in energy and environment engineering.

It offers products and services in heating, cooling, waste heat recovery, captive power, water treatment and recycling, waste management and performance chemicals.

The Company operates in two business segments: energy and environment.

The products covered under the energy segment include
boilers and heaters,
absorption chillers/heat pumps and power plants.

The products covered under the environment segment include

air pollution control equipments/ systems,
water and waste recycle plants,
ion exchange resins and performance chemicals.

The Company’s subsidiaries include

Thermax Sustainable Energy Solutions Ltd.,
Thermax Engineering Construction Co. Ltd. (TECC),
Thermax Instrumentation Ltd.,
Thermax Europe Ltd. and
Thermax International Ltd.

TECC undertakes and executes engineering construction projects mainly for the boiler and heater (B&H) business unit of the Company.

Mundra Port - ADANI group

Mundra Port and Special Economic Zone Limited (MPSEZ) is an India-based company.

The Company is primarily engaged in the business of developing, operating and maintaining the Mundra Port and the related infrastructure.

Mundra Port with a depth of 17.5 meters offers the deepest waters on the Indian coast.

The Port has eight multi-purpose and four container berths,

an all-weather multi-purpose terminal,
an information technology (IT) based Integrated Port Management System (IPMS),
SAP and services,
which include Customs,
Business Infrastructure and Safety Systems.

The Company’s subsidiaries include

MPSEZ Utilities Private Limited,
Rajasthan SEZ Private Limited and
Adani Logistics Limited.

In July 2008, the Company announced the merger of its wholly owned subsidiary, Inland Conware Pvt. Ltd., with Adani Logistics Ltd (ALL) and Inland Conware Ludhiana Pvt. Ltd.

'BHEL to announce its biggest order ever'

state owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) has posted a jump of over 22% in its net profit this year. BHEL chairman

K Ravi Kumar, Chairman and Managing Director, BHEL
and managing director K Ravi Kumar told ET that the company is now looking forward to soon announce its biggest order ever for six major power plants with a capacity to generate 600 mw each.

Your net profit has been below market expectations, what has caused such subdued numbers?
There is an inventory of about nine months. So whatever we re purchasing of up to August we are using up to May. From June onwards it will improve and secondly, there is some finished assemblies we are sending to sites. So, even though there is sales growth but not much value addition. But numbers are in line with what we have told. During this year we ll do a 20-25% sales growth and 25-30% growth in profit. I am quite confident we ll exceed sales target this year and our profits will rise more than 30%.

What is the order book looking like? Has there been a slowdown in the order inflow at all?
Infact, it has increased. Our guidance initially for the year was Rs 50,000 crore. But it must be more than Rs 50,000 crore. It may be coming to Rs 55,000 crore during the financial year.

So you re increasing your guidance there but can you give us a break up from where the orders are coming?
This year in our first quarter, we ve booked orders from private sector. 100% orders have been booked from the private sector. I think the government orders will come in the second quarter and we are quite confident that we ll be able to reach 55000 crore order booking in the financial year.

Could you explain why the government's orders have not come at all?
There were some during elections. Some tenders could not be floated after the code of conduct was lifted. A lot of orders will come in second quarter. We are quite confident the ratio will tilt towards the government sector in third and fourth quarter.

McNally Bharat wins order worth Rs 4.14 bn

MUMBAI: McNally Bharat Engineering Company Ltd said on Friday it has received an order worth 4.14 billion rupees to design, supply and erect a plant for the power project of Ideal Energy Projects Ltd in Nagpur.


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ABOUT McNALLY BHARAT ENGINEERING
---------------------------------

McNally Bharat Engineering Company Ltd. (MBE) is an India-based company engaged in providing turnkey solutions in the areas of power, steel, alumina, material handling, mineral beneficiation, coal washing, ash handling and disposal, port cranes, civic and industrial water supply. IT has constructed over 250 plants on turnkey basis by MBE. The Company operates in segments, which include projects division and products division. The turnkey construction activity of the Company is managed by its projects division. MBE also manufactures a range of equipment, which is undertaken at two factories under the products division. MBE products division manufactures a range of products catering to a range of applications at two plants. One plant is located at Kumardhubi where large and heavy equipment are manufactured and the other at Bangalore from where process equipment are manufactured. It has two subsidiary companies: EWB Kornyezetvedelmi Kft. And EWB-MBE International

Suzlon's poor Q1 show takes toll on shares

3 Aug 2009, 1248 hrs IST, ET Bureau
Print EMail Share Save Comment Text:
MUMBAI: Shares of Suzlon Energy were under severe pressure after the wind turbine maker nosedived into losses in the first quarter of

FY2009-10.

The company reported a net loss of Rs 452.67 crore for the first quarter ended June 30 due to lower sales volumes as compared to a profit Rs 9.3 crore in the same period last
fiscal.

Total income stood at Rs 4,171.35 crore during the reporting quarter, against Rs 3,126.97 crore in the same quarter a year-ago.

On a stand-alone basis, the company posted a net loss of Rs 160.47 crore for the quarter ended June 30. It had a net profit of Rs 88.04 crore in the same period last year.

At 12:40 pm, the stock was trading at Rs 94.40, down 5.36 per cent easing its losses from a low of Rs 90.75 in early trade.

L&T won 1 billion contract of ONGC

Engineering and construction firm Larsen & Toubro said on Monday it has won two contracts from state-run Oil & Natural Gas Corp totalling

over 53 billion rupees ($1.1 billion).

The company said the projects will be completed within 33 months.

NALCO faced huge loss due to global slowdown

BHUBANESWAR: National Aluminium Company Limited (NALCO), the Navratna PSU and India’s leading producer and exporter of alumina and aluminium, has

the first pinch of global slowdown with its profit dipping to Rs 127 crore in the 1st quarter ended June 30 from Rs 525 crore during the same period in the last fiscal registering a negative growth of 76%. Due to low prices, the turnover for the quarter has also reduced considerably.

This is in spite of the fact that the blue-chip company registered an impressive 20.46% increase in aluminium production to 104,776 tons from 86,979 tons in the. “The slowdown has definitely impacted the profit bottom lines of the Company despite impressive increase in production and sales. The prices have began bouncing since July and consequently, we hope to fare better in the next quarter”, Nalco director [finance], B L Bagra told “The ET” on Monday.

Alumina production has increased to 400,800 tons from 392,900 tons in corresponding quarter last year. Power generation also increased by 14.35% to 160 million units [MU] from 1400 MU.

On the sales front, Nalco also achieved total sale of 93,104 MT of aluminium in the 1st quarter, which was 84,103 MT in the corresponding period of previous year. Despite prevailing sluggish market conditions, Nalco has been able to increase its export of aluminium to 27,995 tons from 12,623 tons in the corresponding quarter.

Meanwhile, as part of growth strategy, Nalco has plans to set up two Greenfield projects in India, which include an Rs.16500 crore Smelter and Power Complex at Jharsuguda in Orissa and a Rs.6000 crore Mines and Refinery Complex in Andhra Pradesh.

Today's market

MUMBAI: Indian equities ended sharply higher Monday as investors took long positions across the board following positive opening of European markets. Rally was led by gains in auto, realty and metals space. ( Watch )

National Stock Exchange’s Nifty ended at 4721.55, up 85.10 points or 1.84 per cent after hitting a new 52-week high of 4723.30.

Bombay Stock Exchange’s Sensex closed at 15,962.93, up 292.62 points or 1.87 per cent. The index hit a 52-week high of 15963.36.

BSE Midcap Index surged 2.38 per cent and BSE Smallcap Index gained 1.74 per cent.

Biggest Nifty gainers were Hindalco Industries (8.42%), Mahindra & Mahindra (8.01%), HCL Technologies (6.1%), Reliance Communications (5.86%) and BHEL (5.46%).

Suzlon Energy (-5.56%), Hindustan Unilever (-2.69%), Tata Communications (-2.27%), GAIL (-2.24%) and HDFC (-2.17%) were the losers.

Market breadth was positive on the BSE with 1751 advances and 961 declines.

Rolta india - q1 net zzooooooms

Rolta India, specialized technology solution and service provider today announced a rise of 50% in the consolidated net profit for the quarter ended June 2009. During the quarter, the company reported a consolidated profit of Rs 762.30 million as against profit of Rs 508.30 million for the quarter ended June 30, 2008.

In the same period, consolidated revenues of the company stood at Rs 3,327 million, a growth of 3.60% over the prior year period.

The board of directors of the company has recommended a dividend of Rs 3 a share for FY`09.

Commenting on the results, K.K chairman and managing director said, `` We continue to strengthen our businesses and move up the value chain, thereby delivering enhanced value to our customers worldwide. This approach has become all the more relevant in these difficult times and we believe that as the economic outlook turns positive, we will be even better placed to deliver value to all our stakeholders.``

Shares of the company declined Rs 2.7, or 1.72%, to trade at Rs 153.90. The total volume of shares traded was 2,244,981 at the BSE (3.14 p.m., Monday).

BEML eyes huge profilt from Metro rail projets.

BHARAT EARTH MOVERS LIMITED


Monday, 13 Jul 2009
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BEML eyeing INR 25,000 crore biz from metro rail projects
Monday, 13 Jul 2009

Mr VRS Natarajan CMD of BEML Limited said that maker of metro rail coaches and mining equipment smells a huge business opportunity of INR 25,000 crore in the metro rail projects that are coming up across the country.

BEML has supplied coaches worth INR 1,400 crore for the Delhi metro project and has won the INR 1,672-crore Bangalore contract. Its sights are on Chennai, Pune and Hyderabad.

Mr Natarajan said “Over a dozen cities could be floating metro rail projects in the next decade. We hope to capture at least one-fourth of the INR 100,000 crore business in metro projects.”


Mr Natarajan said “The company plans to invest INR 410 crore in existing facilities including INR 260 crore at the new Palakkad unit in Kerala, this fiscal. Last fiscal, it spent INR 100 crore. We expect the first product to roll out from Palakkad by March 2010.”

He said “We have signed an MoA with Alstom of France to make light rail, medium and high speed rail coaches. Alstom will exclusively source components and bogies made by BEML using this technology for its global uses. It is looking at India as a low cost manufacturing base.”

He added that “BEML plans to supply 90 tonne to 100 tonne stainless steel wagons for the high speed freight corridors proposed on Mumbai to Delhi and Howrah to Ghaziabad sectors. It has signed a MoU with SAIL for sourcing steel for the wagons.”

For the current fiscal, BEML is looking at a turnover of INR 4,000 crore compared with INR 2,797 crore for fiscal 2009, driven by all the 3 divisions rail, mining and defense. Order book stands at over INR 5,000 crore.


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ABOUT BEML
-----------------
Bharat Earth Movers Limited (BEML) is an Indian Public Sector Undertaking, with headquarters in Bangalore. It manufactures a variety of heavy equipment, such as that used for earth moving, transportation and mining.

BEML incorporated in May 1964, and commenced operations on January 1, 1965. It was wholly owned and operated by India's Ministry of Defense until 1992, when the government divested 25% of its holdings in the company. BEML is Asia's second-largest manufacturer of earth moving equipment, and it controls 70% of India's market in that sector. Its stock trades on the National Stock Exchange of India under the symbol "BEML", and on the Bombay Stock Exchange under the code "500048". The company went for Follow On Public offer (FPO) and fixed the price band for its FPO between Rs.1,020 and Rs.1,090.

BEML has manufacturing plants in Kolar Gold Fields, Bangalore and Mysore. It has numerous regional offices throughout the country. KGF unit is the main unit accounting for the manufacture and assembly of a wide array of earth-moving equipment such as Bulldozers and Excavators. Railcoaches are made in the Bangalore complex and the Mysore facility makes Dump Trucks and engines of various capacity .

ALSTOM got 4 billion RS contract from BHEL

Alstom Projects (India) today announced that it has been awarded a contract worth Rs 3.73 billion by Bharat Heavy Electricals (BHEL).

The said order is for supply of boiler components for 2 X 800 MW supercritical coal fired power plant at Krishnapatnam, Andra Pradesh.

The company is a major player in the energy, transport infrastructure business supplying critical electrical, industrial equipment including boilers and turbines and pollution control equipment for power plants.

Shares of the company gained Rs 8.4, or 1.72%, to trade at Rs 498. The total volume of shares traded was 72,805 at the BSE (12.06 p.m., Monday).


---------------------
ABOUT ALSTOM
--------------------

Alstom has supplied more than 25% of the world's installed power generation capacity. In equipment and services for the rail transport sector, Alstom is the pioneer and undisputed leader in very high-speed trains, and is developing state-of-the-art solutions for urban transport systems. We set the benchmark for innovative, environmentally friendly technologies in the world of power and rail transport infrastructure. Our engineers built the fastest train and the highest capacity automated metro in the world. We provide turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, gas and coal.

Our Group employs around 80,000 people in 70 countries, serving customers worldwide.

Alfa Laval Q1 net at Rs 30 cr

Alfa Laval (India) Ltd, manufacturing plants and equipment for food, chemical, and pharmaceutical industries and the Indian arm of the Swedish-based Alfa Laval Group, posted quarterly net profit of Rs 30 crore for the quarter ended June, an increase of 14 per cent over the corresponding period of the previous year.

The company clocked a turnover of Rs 208 crore, a growth of 7 per cent in the quarter as compared to Rs 194 crore in the corresponding period last year.

“This better performance was largely driven by the company’s concentrated focus on the profitability in the backdrop of the economic slowdown across all sectors of business,” Nish Patel, managing director, Alfa Laval, said.

The company’s total sales turnover for the half year ended in June 30, 2009 was Rs 406 crore, registering a double-digit growth over the corresponding period of the previous year. The net profit for the half-year ended June 30 increased by over 11 per cent to Rs 54 crore as compared to the net profit of Rs 49 crore for the corresponding period of the previous year. “This was mainly on account of a good growth in the process technology division,” Patel said.

In the last six months, 75 and 25 per cent of the total Rs 406 income came from domestic sales and exports respectively.

The process technology division manufactures centrifugal separators, decanters, spiral, brazed and plate heat exchangers, welded heart exchangers, dryers and evaporators which are used in refineries, petrochemicals, plastics and polymers, steel, metal, pulp and paper.
Patel said the potential of food industry and process industry shored up the company’s business during the first half of the year. While the food industry was expected to increase company’s business, there would be a rise in inquiries for ethanol plants both in the domestic and export market, he added.

“The company is doing well in vegetable oil refining business,” Patel said, adding that the company took a hit in brewery business with a big company defaulting the order for three years.

He said the company’s fruit processing business would grow with over 10 food mega parks coming up in the country. Each fruit processing plant with 50 – 100 ton capacity a day costs Rs 15 – 30 crore. Last year, the company completed three projects worth Rs 65 crore in this segment.

Patel said the company on hand had had orders to the tune of Rs 635 crore at the end of June 2009 which was 25 per cent higher than last year. And 50 per cent of this business would be in food processing segment. Only one book order worth Rs 10 crore in starch industry was cancelled, he added.

This year the company, employing 1300 staff, was investing Rs 27 crore in its plant and machinery up gradation, Patel said.

The company clocked total revenues of Rs 811 crore in the calendar year 2008.The net profit after tax for the year was Rs 91 crore.

ABB: Q2 profit down 36 pc to Rs 83 cr

Bangalore , July 31 Power and automation technologies firm ABB Ltd registered 36.5 per cent decline in net profit to Rs 83.60 crore for second quarter-ended June 30.
Total income of the company also dropped to Rs 1,525.87 crore during the April- June period of current fiscal from Rs 1,637.62 crore of the same period last year.

The company booked orders worth Rs 4,414.9 crore during the half-year ended June 2009, 10 per cent lower compared to first half of 2008, a company release said here today.



The second quarter saw an order intake of Rs 2,111.6 crore four per cent lower than second quarter of 2008.

During the quarter the company received significant orders for electrical solutions to enhance reliability in power generation, transmission and distribution.

The strong order intake during the first two quarters of this year has helped strengthen the order backlog from Rs 6776.9 crore at the end of first half of 2008 to Rs 7,622.3 crore at the end of June 2009 registering a 13 per cent increase year-on-year.

"The economy is entering the recovery phase now coupled with a stable government in place. We remain optimistic about the long term business prospects for ABB. However, it still remains to see how long before the stable phase of growth would return", said Biplab Majumder, Vice Chairman and MD, ABB.

ISPAT - Lakshmi Mittal's creation

Ispat Industries Ltd operates in the iron and steel business.


Ispat Industries Limited (IIL) is one of the leading integrated steel makers and the largest private sector producer of hot rolled coils in India. Set up as Nippon Denro Ispat Limited in May 1984 by founding chairman Mr M L Mittal, IIL has steadily grown into a Rs 9,400-crore company, assuming its position as flagship of the reputed Ispat Group. A corporate powerhouse with operations in iron, steel, mining, energy and infrastructure, the Group today figures among the top 20 business houses in the country.

Headquartered at Mumbai, IIL employs a total of 3000 people and is the leader in the national speciality steel market. The company's core competency is the production of high quality steel, for which it employs cutting edge technologies and stringent quality standards. It produces world-class sponge iron, galvanized sheets and cold rolled coils, in addition to hot rolled coils, through its two state-of-the art integrated steel plants, located at Dolvi and Kalmeshwar in the state of Maharashtra.

The sprawling 1,200 acres Dolvi complex houses the 3 million tonne per annum hot rolled coils plant, that combines the latest technologies - the Conarc process for steel making and the compact strip process (CSP) - introduced for the first time in Asia.

The complex also has a 1.6 million tonne per annum sponge iron (DRI) plant, which was commissioned in 1994 as the world's largest and most efficient gas-based single mega module plant. Moreover, the Dolvi complex is home to a 2 million tonne blast furnace and also boasts a mechanised multi-functional jetty situated nearby, that facilitates the automation of raw material handling. A new 2.24 million tonnes per annum sinter plant, a 1260 tonnes per day oxygen and a new electric arc furnace have also been commissioned at IIL Dolvi.

Ispat is the only steel maker in India and among a few in the world to have total flexibility in choice of steel making route, be it the conventional blast furnace route or the electric arc furnace route. Its dual technology allows Ispat the freedom to choose its raw material feed, be it pig iron, sponge iron, iron ore, scrap or any combination of various feeds. It also has total flexibility in choosing its energy source, be it electricity, coal or gas.

The Kalmeshwar complex houses Ispat's 0.4 million tonnes cold rolling complex, which also includes the galvanized plain/ galvanized corrugated (GP/GC) lines and India's first colour coating mill.

Technology and innovation have always been the cornerstones of IIL's quest for excellence and these state-of-the-art plants facilitate the company's mission to attain and sustain market leadership, through technological and product superiority.

The company's strengths lie in its integrated process management, knowledge management and control systems. And its seamless supply chain management systems further the efficient use of raw materials, while its staff of highly skilled engineers, technicians and managers with specialised domain knowledge, ensure the choice of the relevant technology and the ability to produce international quality products at a competitive price.

In line with its vision for the future, IIL is expanding its HRC capacity to 3.6 million. Moreover, it aims to complete its vertical integration process, increase the proportion of high-grade and value-added steel products in its product mix and leverage the advantage the modern design and the size of the facilities offers.

With investments of over US $2 billion, IIL is the seventh largest Indian private sector company in terms of fixed assets. It aims to consolidate its market leadership in the national specialty steel market by capitalising on the proximity of its manufacturing facilities to major consumers of flat steel products in Maharashtra, while increasing its presence in international markets by using its convenient port location.

In the short span of time since its inception, Ispat Industries has steadily raised the bar - in terms of its relentless pursuit of technological advancement, unwavering focus on innovation, strident emphasis on quality products and its constant initiatives aimed at ensuring customer satisfaction. As it rapidly forges ahead on all these fronts, IIL has successfully reinforced its position as market leader, while simultaneously making technological breakthroughs and setting even higher standards for itself.

GAIL searching for LNG worldwide to meet domestic demand

GAS AUTHORITY OF INDIA LIMITED

NEW DELHI:

State gas utility GAIL India Ltd is scouting for liquefied natural gas (LNG) from overseas suppliers to meet growing domestic fuel

demand, company's new head B C Tripathi said on Saturday.

GAIL, which holds 12.5 per cent stake in nation's largest LNG importer Petronet LNG Ltd, is looking at independently sourcing the liquefied gas in ships even as it is talking to new domestic gas producers like GSPC for sourcing the fuel.

"We are very aggressively looking at gas sourcing, be it from new domestic fields or LNG," said Tripathi, who took over as the Chairman and Managing Director of GAIL today.

54-year-old Tripathi, who was previously Director (Marketing), took office upon retirement of U D Choubey.

"Sourcing and securing gas supplies is one of my top most priorities," he said.

GAIL is looking at importing five million tonnes a year of LNG on long-term contract as well as shipping one spot cargo of LNG a month to meet the rising demand for fuel at industries particularly power plants.

Tripathi said he would also court new domestic gas producers like Gujarat State Petroleum Corp (GSPC) to buy gas from their fields.

His other priorities included completion of the Rs 28,000 crore worth of pipeline projects in time and within the approved cost as also expanding GAIL's presence in CNG and piped gas retailing in cities.

Dishman pharma : profit rises 41% - 39 cr

AHMEDABAD:

Growth in contract research and manufacturing services (CRAMS) business, saw the Ahmedabad-based Dishman Pharmaceuticals and Chemicals post a 41.4% jump in its consolidated net profit for the first quarter ended June 30, 2009.

Talking to ET NOW, Dishman chairman JR Vyas said: “Even though the topline was flat, the company’s bottomline surged due to good returns from the CRAMS business.” The company had focused on the potential of the CRAMS business, and in June, created a new position to head it. Nicholas Green, who was earlier the president of US-based Codexis Pharmaceuticals, was appointed president of the CRAMS business.

The Rs 1,000-crore company earned 50% of its revenue from Europe during the first quarter of 2009 and 40% from the US and Japan (20% each). While the consolidated profit after tax rose to Rs 39.2 crore from Rs 27.7 crore, the company’s turnover dropped 3% to Rs 227.7 crore from Rs 235.9 crore in the previous year. Dishman’s Switzerland-based subsidiary Carbogen Amcis saw sales surging to Rs 114.9 crore for the first quarter ended on June 30, 2009, compared with Rs 93.7 crore for the same period in the previous year.

The EBITDA stood at Rs 33.1 crore for the first quarter against Rs 12.4 crore last year. Mr Vyas said, Carbogen’s performance contributed to its profit. Foreign exchange fluctuations saw the company provide Rs 31 crore towards forex losses in the second quarter of 2008-09.

However, in the subsequent quarter, the company managed a forex gain of Rs 4.9 crore. The current quarter’s profits include forex gain of Rs 15.1 crore, compared to the previous year’s forex losses Rs 16.45 crore.

On the company’s recent foray into the generics contract research manufacturing and services (generic CRAMS), Mr Vyas said there was no pricing pressure, as his company’s majority revenue did not come from the generics contract business. Dishman does contract manufacturing and contract research for innovator pharma companies. Mr Vyas said, usually pricing pressures were felt by companies who are into generic formulation.

In the previous financial year, Dishman’s consolidated turnover stood Rs 1,062.36 crore, registering a growth of 32%. The pharma major has 16 subsidiaries, three joint ventures and one associate company.

On Friday, Dishman’s share opened at Rs 194.50, scaled up to Rs 200.80, before closing at Rs 184.20, down 1.8% on BSE.

Fall in metal prices drags Hindalco Q1 net down by 31%

MUMBAI: Hindalco Industries, the Aditya Birla group flagship, on Thursday reported a 31% drop in its first quarter net profit, an improvement

over market expectations, as base metal prices fell due to the slowdown.

The Mumbai-based company, which is also India’s largest aluminium producer, said its net profit in the April-June period dipped to Rs 480.56 crore, compared with Rs 696.76 crore in the same period last year. Hindalco’s revenue fell 16% to Rs 3,899.49 crore in the same period.

The company’s performance is much better than what brokerage houses and analysts expected; the street forecast India’s largest metals company to report a net profit of Rs 305 crore, while sales was estimated to be at Rs 3,850 crore.

Prices of base metals including aluminium and copper have fallen sharply from year-ago period, thanks to the recession. On the London Metal Exchange, aluminium is down to $1,485 per tonne, compared with $2,940, a year ago. Copper fell to $4,716 per tonne, against $8,379.

“Despite the fall in metal prices and the impact from recession, Hindalco’s performance has been better than the industry average,” managing director Debu Bhattacharya told ET. “The drop (in profit) must be viewed in the context of the global economic environment, relative to metal companies.”

Though the prices are lower, Hindalco has shown volume increase, indicating recovery in demand. While production of aluminium rose 9%, the rupee depreciated close to 10%. Higher volumes and a weak rupee typically mitigate the impact of lower international prices on the operating profit.

Hindalco’s operating profit for the June 2009 quarter is four-fifths of that earned in the same quarter last year. Also, operating margin contracted by 100 basis points. Hindalco’s operating margin in copper and aluminium rose; the company’s earning before interest and tax margin for aluminium and copper business stood at 32% and 6%, respectively.

Referring to the quarterly results, Mr Bhattacharya said the earnings can’t be compared with the corresponding quarter last year due to early adoption of the AS-30 accounting standards.

AS 30 was issued by the Council of the Institute of Chartered Accountants of India and came into effect from April 1, 2009. The standard — which typically recognises and measures financial assets, financial liabilities and contracts to buy or sell non-financial items — becomes mandatory only after April 1, 2011.

Separately, Hindalco said its board approved a proposal to raise funds up to $500 million (around Rs 2,400 crore) through Qualified Institution Placement (QIP) issue or a GDR share issue.

My Novel Reading

Right now i am reading JEFFERY ARCHER'S "FALSE IMPRESSION".
it looks very interesting till 3'rd chapter ( i just read this much.. bought today only...GAJJU told me that its good one )

one of the coolest thing about archer is the way he represent his story,,,, right from the start, he just break the ice on u, and u can not resist yourself by reading further.... god knows who gave this guy so much talent and thinking ability to think so much...

my other reading is SACHIN GARG's " A SUNNY SHADY LIFE - AN ICY HOT LOVE ".... but if truly speaking,,,, i don't find this book too much interesting,,, interesting i found that its a bit boring.... i just feel that he want to give too much gyan to us... and just keeps on talking unnecessary things... so boring man....