NOCIL spurts on strong Q1 chemistry

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SMS BOS < SPACE > MF, MUTUAL FUND QUERY AT 56388
COS GETTING FRESH FDI IN SECTORS WHERE FDI CAPS HAVE GONE UP: SOURCES
NEW NORMS TO CONSIDER TOTAL FOREIGN INVESTMENT NOT TOTAL INVESTMENT: SRCS
CCEA NOD NEEDED ONLY FOR INVESTMENTS OF RS.1200 CR AND ABOVE: SOURCES
GOVT TO EASE NORMS FOR FDI REQUIRING CABINET APPROVAL: SOURCES
NO PLANS TO OFFER HOME LOANS AT 8%: NW
OCTOBER UNEMPLOYMENT RATE RISES TO 10.2% VS 9.8% (MOM)
EMPLOYERS CUT PAYROLLS BY 190,000 IN OCTOBER VS ESTIMATE OF 175,000
FOREIGN FUNDS NET BUY RS.587.02 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
DOMESTIC FUNDS NET BUY RS.236.62 CR IN EQUITIES ON NOVEMBER 6 (PROVISIONAL)
KINGFISHER RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
KINGFISHER RAISES FUEL SURCHARGE BY RS.100 ON SECTORS UPTO 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.100-150 ON SECTORS UPTO 1000 KM
NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA

Updated: 23/07/2008 | 12:00 AM IST

Manufacturing

Capital Market

Wednesday, July 23, 2008 (New Delhi)

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The company announced the results after trading hours yesterday, 22 July 2008.

Meanwhile, the BSE Sensex was up 563.10 points, or 3.99%, to 14,667.30. The market spurted today, 23 July 2008, after the Congress-led United Progressive Alliance (UPA) government late on Tuesday, 22 July 2008, retained power by winning trust vote in parliament, ending political uncertainty. A further fall in oil prices and firm global markets also boosted sentiments.

On BSE, 33,557 shares were traded in the counter. The scrip had an average daily volume of 3.68 lakh shares in the past one quarter.

The stock hit a high of Rs 25.50 and a low of Rs 23 so far during the day. The stock had a 52-week high of Rs 67.95 on 4 January 2008 and a 52-week low of Rs 17.55 on 2 July 2008.

The small-cap company had underperformed the market over the past one month till 22 July 2008, declining 1.85% compared to the Sensex’s decline of 1.32%. It had also underperformed the market in the past one quarter, declining 25.57% compared to Sensex’s decline of 15.53%.

The company has an equity capital of Rs 160.79 crore. Face value per share is Rs 10.

The current price of Rs 23.50 discounts its Q1 June 2008 annualised EPS of Rs 2.90, by a PE multiple of 8.10.

The company’s net sales rose 73.9% to Rs 128.39 crore in Q1 June 2008 over Q1 June 2007.

The company manufactures a wide range of petrochemicals like, ethylene, propylene, butadiene, benzene and their derivatives, polymers, rubber, chemicals and plastic products.