Month: October 2007

Deccan Chronicle Holdings Ltd reported Q2 FY08 Net Sales at Rs 187.77 crore up 26%.
PAT at Rs. 82.60 crore up 28%. Buy back up to a maximum of Rs.250 crores up to a maximum price of Rs.250 per equity share (Face value Rs.2). The company also told that it is going for a Private placement in its 100% subsidiary Sieger Solutions up to 24%; Enterprise value Rs.1500 crores- Rs.1800 crores .

Cairn India, subsidiary of global eenergy giant reported a net profit of Rs 23.24 crore on total income of Rs 300.11 crore in Q3 September 2007. Figures for the corresponding previous period are not available. This is the first quarter that Cairn India is in Black 🙂 The company had reported a loss of Rs 71 crore in Q2-2007. Their are rumors that BP may BUY Cairn’s parent company for 3.6 Bn pounds. Kotak Research maintains an Underperform rating on Cairn Energy with a target price of Rs 145 based on oil reserves / assets. While CLSA recommends a BUY on the stock with a price target of Rs 230.

Just a while ago, we received communication from Bharat Earth Movers Ltd. They stated that they have secured an order from Delhi Metro Rail Corporation (DMRC) for manufacture and supply of 156 numbers state-of-the-art standard gauge stainless steal metro cars towards second phase of operation worth Rs 1144 crore. This order is the single largest historic contract BEML has bagged. BEML is also looking forward for an additional order of 36 metro cars from DMRC.

BEML’s Rail & Metro Business Group has tied up with IL&FS for working as a consortium to bag metro projects in the country and BEML will supply rolling stock, spares and after sales service for metro projects. BEML & ILFS combine is also exploring the possibility to work on the city centre to international airport segment of Metro project at both Hyderabad and Bangalore Metro.

Karaikal Port, a wholly owned subsidiary of Marg Construction has entered into a MoU with Pembinaan Redzai Sdn Bhd (PRSB), a leading Malaysian company engaged in management and operation of forest plantations, logging, saw milling, chipping and other downstream manufacturing and related activities. PRSB also undertakes civil engineering and construction works and project management services in Malaysia.

Meanwhile, New Chennai Township, its another wholly owned subsidiary has got regulatory nod for setting up a special economic zone for light engineering sector.

The current price of Rs 223.50 discounts Q1 June 2007 annualized EPS of Rs 17.86 by a P/E multiple of 12.51.