Northgate Technologies moves south

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BUDGET BUILD UP- INDIA'S TOP MINISTERS: AT 1 PM & 10:30 PM, SUN 3 PM
BUDGET BUILD UP- INDIA'S TOP MINISTERS: AT 1 PM & 10:30 PM, SUN 3 PM
BUDGET BUILD UP- INDIA'S TOP MINISTERS: AT 1 PM & 10:30 PM, SUN 3 PM
BUDGET BUILD UP- INDIA'S TOP MINISTERS: AT 1 PM & 10:30 PM, SUN 3 PM
IF FUEL AND BANK LIABILITIES ARE NOT PAID ON TIME, THE OPS COULD STOP
TO EMPLOYEES: NEED TO UNDERSTAND THAT CO IS IN DIRE FINANCIAL STRAITS
FOREIGN FUNDS NET BUY RS.210.82 CR IN EQUITIES ON JULY 3 (PROVISIONAL)
DOMESTIC FUNDS NET BUY RS.298.58 CR IN EQUITIES ON JULY 3 (PROVISIONAL)
RIL YET TO CHALLENGE BOMBAY HC ORDER WHICH WAS IN FAVOUR OF RNRL IN SC
RIL FILES A CAVEAT IN SC IN RESPONSE TO RNRL'S SPECIAL LEAVE PETITION
CLB ORDER IN THE MATTER OF MAHINDRA SATYAM EXPECTED ON MONDAY
RIL FILES A CAVEAT IN SC IN RESPONSE TO RNRL'S SPECIAL LEAVE PETITION
CLB ORDER ON THE MATTER EXPECTED ON MONDAY: SOURCES
OPEN TO 1-2 GOVT NOMINEES TO BE RETAINED FOR INVESTIGATION PURPOSE
MAHINDRA SATYAM BOARD HAS WRITTEN TO CLB TO RECALL GOVT NOMINATIONS
ASHOK LEYLAND SALES AT 3,971 UNITS VS 7,144 UNITS (YOY)
BHARTI GETS INTERPRETIVE ORDER FROM SEBI ON WAIVER OF OPEN OFFER
ORDER CONDITIONAL ON BHARTI GETTING NOD FOR SCHEME OF ARRANGEMENT BY HC
BHARTI WILL NEED SHAREHOLDER APPROVAL FOR SCHEME OF ARRANGEMENT
TATKAL BOOKING PERIOD REDUCED TO 2 DAYS FROM 5 NOW
TO FORM EXPERT COMMITTEE FOR OPTIC FIBRE CABLE NETWORK
PROVISION FOR NEW LINES AT RS.2921CR FROM RS,1100CR
RECEIVED INCREASED BUDGETARY SUPPORT BY RS.5000 CR IN FY'10
TO INTRODUCE 12 NEW NON STOP INTER-CITY TRAINS, DOUBLE DECKER AC COACHES
FREIGHT TRAFFIC TARGET AT 882 MT FOR FY'10 VS 833 MT IN FY'09
EXPECT RS.58500 CR REVS FROM FREIGHT, RS.23400 FROM PASSENGERS IN FY'10
FY'10 GROSS TRAFFIC RECEIPTS SEEN AT RS.8842 CR
RAILWAY FINANCE CORP TO BORROW RS.9000 CR IN FY'10

Updated: 07/03/2008 | 12:00 AM IST

Software

Friday, March 07, 2008 (New Delhi)

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The company made this announcement after trading hours on Wednesday, 5 March 2008.

Meanwhile, BSE Sensex was down 599.66 points or 3.63% to 15,942.42, on weak global cues. Concerns on the political front also weighed on the market after the Communist Party of India-Marxists (CPM) on Thursday, 6 March 2008, renewed its threat on the United Progressive Alliance (UPA) government saying that the ruling coalition's future depended on how it took the call on pursuing the Indo-US nuclear deal.

On BSE, 307 shares were traded in the counter. The scrip had an average daily volume of 24,376 shares in the past one quarter.

The stock hit a high of Rs 446.90 and a low of Rs 420.10 far during the day. The stock had a 52-week high of Rs 791 on 5 July 2007 and a 52-week low of Rs 397.65 on 22 January 2008.

The mid-cap scrip had underperformed the market over the past one month till 5 March 2008, declining 12.65% compared to the Sensex’s fall of 11.37%. It had also underperformed the market in the past one quarter, declining 23.95% compared to Sensex’s decline of 16.44%.

The company’s current equity is Rs 34.85 crore. Face value per share is Rs 10.

The strategic alliance with Tencent will enable Globe7 to access more than 200 million active Internet users or approximately 15% of the existing global Internet users.

Globe7 HK is a 100% step down subsidiary of Northgate Technologies. It is a leading Internet media company and owns web 2.0 portals such as Globe7.com, ziddu.com and egglad.com. Ziddu.com and Globe7.com are among world's top 1000 web portals as per alexa.com

QQ.com is owned by Tencent Holdings, a Hong Kong stock exchange listed company with market cap of $11.2 billion and more than $500 million annual turnover.

Northgate Technologies reported a net loss of Rs 5.34 crore in Q3 December 2007 as compared to the net profit of Rs 21.44 in Q2 September 2007. Net sales declined 77.71% to Rs 5.87 crore in Q3 December 2007 over Q2 September 2007.

The company provides information technology enabled services. The group operates in three segments viz. information technology services, telecommunications and online advertising.