Deccan Chronicle + Cairn Energy India

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.