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Archive for the 'May 2009'  

Tata Motors net profit down 50.65% in FY'09


http://www.sharetipsexpert.com/ >> News Archive >> Tata Motors net profit down 50.65% in FY'09

Auto major Tata Motors on Friday reported a 50.65 per cent fall in its net profit at Rs 1,001.26 crore for the 2008-09 fiscal.

The company had a net profit of Rs 2,028.92 crore in the previous financial year, Tata Motors said in a statement.

The total income from operations in FY'09 also declined by 10.71 per cent to Rs 25,660.79 crore from Rs 28,739.41 crore in FY'08, it said.

The company's board has recommended a dividend of Rs 6 per ordinary share of Rs 10 each and Rs 6.50 for every 'A' ordinary share of Rs 10 each for 2008-09. In the previous fiscal, it was Rs 15 per ordinary share.

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IOC Q4 net profit at Rs 6,622.96 cr


http://www.sharetipsexpert.com/ >> News Archive >> IOC Q4 net profit at Rs 6,622.96 cr

The country's largest refiner, Indian Oil Corporation (IOC), on Friday reported a net profit of Rs 6,622.96 crore in the fourth quarter ended March 31, 2009, while it had a net loss of Rs 414.27 crore in the corresponding period a year ago.

The total income dipped to Rs 60,599.80 crore during the March quarter, from Rs 71,792.82 crore in the same period last fiscal, IOC said in a filing to the Bombay Stock Exchange.

Effective March 25, IOC had merged Bongaigaon Refinery and Petrochemicals Ltd (BRPL) with itself and the figures of BRPL has been included in the financial results of FY'09.

"Previous year's figures do not include the financial of erstwhile BRPL and hence are not comparable to those of the current year to that extent," the filing said.

For the financial year ended March 31, 2009, IOC posted a consolidated net profit of Rs 2,599.40 crore, while the same was at Rs 7,912.74 crore in FY'08, the filing added.

Total income rose to Rs 2,90,946.19 crore during the fiscal ended March 2009, from Rs 2,32,558.62 crore in FY'08.

On a standalone basis, IOC posted a net profit of Rs 2,949.55 crore in the FY'09, while it stood at Rs 6,962.58 crore in the year-ago period.

The standalone total income rose to Rs 3,09,087.59 crore during FY'09, from Rs 2,49,169.16 crore in the previous fiscal.

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Parsvnath to raise Rs 2,500 cr via QIP


http://www.sharetipsexpert.com/ >> News Archive  >> Parsvnath to raise Rs 2,500 cr via QIP

Real estate firm Parsvnath Developers said it is planning to raise up to Rs 2,500 crore by way of qualified institutional placement (QIP).

"The board has decided to raise funds by various means, including through issuance of further securities to persons other than the existing equity shareholders of the company and also by way of QIP to qualified institutional buyers for raising a sum of up to Rs 2,500 crore," Parsvnath said in a filing to the Bombay Stock Exchange.

Following the announcement, shares of Parsvnath surged 9.96 per cent to hit its upper circuit at Rs 88.85 on the BSE.

Reeling under acute cash crunch, a host of real estate companies are now resorting to QIP and preferential allotment of warrants to promoters to strengthen their cash balance.

Last week, Indiabulls Real Estate had raised Rs 2,656.50 crore through placement of securities to QIBs, while HDIL had said it would raise funds by way of QIP.

The country's second largest realty firm Unitech had said it would issue warrants worth Rs 1,000 crore to promoters, thereby raising their stake by about 10 per cent in the company. Last month, it had raised Rs 1,600 crore through QIP to fund various projects and pay off part of its Rs 8,400-crore debt.

Besides, the promoters of India's largest realty firm DLF had earlier this month sold a 9.9 per cent stake in the company for about Rs 3,860 crore for raising funds.

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T-20 World Cup: A Look Back Before The Action Starts Again


T-20 World Cup: A Look Back Before The Action Starts Again

After a grueling IPL season, Indian Cricket team is now in England for the second T-20 World Cup. The team will play its first match against Bangladesh on June 6th. Going in the tournament as Defending Champions, M.S. Dhoni’s squad looked quite optimistic while boarding the flight to Britain.

Every Indian cricket fan remembers that amazing day in September 2007 when Sreesanth took that last catch and India was the World Champion. It seriously feels like it was yesterday as every ball and every shot of that T-20 match is still fresh in every cricket fan’s memory. What came next was a huge parade on the streets of Mumbai and players being showered with awards and billions of rupees.

A country of a billion suddenly found new cricketing heroes like Yousuf Pathan, Gautam Gambhir, Dinesh Kartik, Joginder Sharma (who bowled that magnificent final over) and Rohit Sharma. The most amazing part was that this squad did not include the three greatest names in Indian cricket in the last 10 years. Dhoni’s army did not include Sachin Tendulkar, Saurav Ganguly and Rahul Dravid.  

The team was pretty much written off by experts, even before the tournament started. The absence of star players and the debacle in 50-50 world cup only few months earlier, did not invite much hope from the team. But Dhoni’s army proved everyone wrong. They not only smashed weaker teams out of the competition, but even won their matches again Australia, Sri Lanka and South Africa; the teams which were touted to be the probable winners of the tournament.

Since then, Indian cricket team has seen quite an improvement in their performance. They have won in tests, One-dayers and T-20 matches, convincingly. The best thing about this team is that they don’t choke under pressure. It is something quite visible in many recent matches which were won under serious pressure. The recent victories in Australia, South Africa, Sri Lanka and New Zealand have proved that Team India can win overseas also.

But the flip side of such a good performance is that people of this country and team’s fans all over the world are now expecting nothing less than a smashing victory in the tournament. This might prove to be more pressure than some of the new and relatively inexperienced players can handle.

What will actually happen from June 6th is yet to be seen. And we are sure that this tournament is the perfect follow up after IPL 2. All those cricket maniacs who are missing the action on TV have the reason to rejoice once again (provided our team plays to its full potential). 

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Tata Motors net falls 51%, cuts capex plans

http://www.sharetipsexpert.com/ >> News Archive >> Tata Motors net falls 51%, cuts capex plans

Tata Motors Ltd, India’s top vehicle maker, reported a smaller-than-expected 50.7% drop in full-year profit as sales picked up in the March quarter and raw material prices fell.
An economic slowdown combined with higher borrowing costs and lack of adequate financing had put the brakes on auto sales in India for much of the fiscal year ended March.
Car sales have showed an uptrend since February but demand for commercial vehicles are yet to pick up.
Tata Motors, which controls about 60% of the world’s fifth-biggest truck and bus market, said it sold 506,421 vehicles during the year, down 14% from 585,649 a year earlier.
The company said net profit fell to Rs1,001 crore ($212 million) in 2008-09 from 2,029 crore a year earlier.
This included Rs520 crore one-time profit on sale of investments, and gains of Rs418 crore from change in accounting policy. Revenues fell 10.7% to Rs25,660 crore from 2,8740 crore.
Reuters Estimates had forecast net profit at Rs267 crore on revenue of 25060 crore for the year.
Tata Motors is set to begin sales of the Nano, billed as the world’s cheapest car, in July. It had collected about Rs2,500 crore from more than 200,000 consumer bookings for the tiny car in April.
A senior official said the company has cut its expenditure plans to Rs2,500 crore to Rs3,000 crore for each of the next two years from 4,000 crore set earlier.
Maruti Suzuki, India’s top car maker, reported a surprising drop in March quarter profit and forecast a difficult year ahead.
Top carmakers in Asia are still downbeat on their prospects. Japan’s Toyota forecast a grim outlook after posting a bigger-than-expected annual loss, while Honda has forecast a small profit this year.
Japan’s Suzuki Motor posted a small quarterly profit, riding on the success of its Indian unit, but forecast an 87% drop in profit this year on slumping global demand and a stronger yen.
Korea’s Hyundai Motor Corp, whose quarterly profit exceeded market expectations, is however, expecting to make gains in the United States, where giants such Chrysler and General Motors have been driven to bankruptcy.
Tata Motors, which had bought Ford Motor’s Jaguar and Land Rover brands last year, said on Wednesday it had completed refinancing the remainder of a $3 billion bridge loan it had taken for the acquisition.
It had repaid $1.16 billion through a rights issue and divestments in group firms last year. Earlier this month it raised $840 million via a non-convertible rupee debenture issue and extended the final maturity of the remaining $1 billion by 18 months to 31 Dec 2010.
Shares in Tata Motors, worth about $3.1 billion, rose 1.2% to Rs336.70 on Friday, underperforming the main index that rose 2.3%. The shares had risen 13.4% in the March quarter, outpacing a 0.6% gain in the index.

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Farm Output - GOVT spend power 09


http://www.sharetipsexpert.com/ >> News Archive >> Farm Output - GOVT spend power 09

The much-awaited gross domestic product (GDP) growth number for the full year, FY2008-09, came in at 6.7% versus a projection of 7.1%. The GDP growth for the last financial year, FY08, stood at 9%. The numbers for the fourth quarter of FY09 also came in at 5.8% versus 5.3% last quarter and 8.8% a year ago.

While the official estimate for the full year stood at 7.1%, most experts said the forecast was a little on the higher side and that it would come near the 6.5% range.

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http://www.sharetipsexpert.com/ >> News Archive >> INVESTMENT AFTER ELECTION

Positional trading after election result


The UPA has proved that they are far ahead of all other party alliances and are in a strong position. Market reacted positively to this happening and moved a 20% up-circuit for the first time in Indian history. This shows a positive move and we expect nifty to be steady and strong. The nifty has also crossed its 200DMA and heavy turn over also shows keen buying interest.


What to trade at this point of time?

 It is no contradicting statement that there are still huge shorts which are still open. Also fresh longs would result in heavy volatility. www.sharetipsexpert.com recommends that all traders keep strict SL for all there positions. We also like to remind you of the fact that expiry for this current month of May is near. We also expect nifty to move up till 3700 and show some selling pressure from FII’s and big fund mangers to reshuffle their portfolios. LIC and other govt investment firms will book profits in slowing sectors. We also see trends in pharma sector as defensive and will lot yield big gains on the run.

When to trade?

 Buying at this particular time may be fatal however buying on dips will always be the right strategy. People who have missed the investment opportunity at lower levels of 2500-2700 should wait and not jump to buy stocks immediately. Wait for a profit booking in the market and then invest slowly. We shall also recommend to buy in parts and keep building the portfolio.

 What to buy?

 Banking and infrastructure will be key runners in the market. Pharma will remain as a defensive sector and will underperform on up moves.

  Disclaimer: The Calls made herein are for informational purpose and are not recommendations to any person to buy or sell any securities. The above calls are based on the theory of technical analysis. The author does not accept any liability for the use of this column. Readers of this column those who buy or sell securities based on the information in this column are solely responsible for their actions. The author may have positions in any of the stocks mentioned in this column.

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