RCom, Sterlite Industries, TCS may see action

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 16/10/2009 | 12:00 AM IST

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Capital Market

Friday, October 16, 2009 (New Delhi)

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India's second largest mobile phone company by subscribers, may continue to be in limelight on recent reports the stock market regulator Securities and Exchange Board of India (Sebi) has shown interest in reviewing the findings of a government-appointed audit firm that pointed to a series of alleged accounting irregularities by Reliance Communications (RCom).

The audit firm, Jaipur-based Parakh and Company, submitted the report to DoT last week. The report alleged RCom had under-reported revenue to save on licence fees and inflated numbers to the stock exchanges. The report said the company had sought to avoid paying nearly Rs 316 crore to the national exchequer—Rs 258.46 crore in licence fees and Rs 57 crore in spectrum usage fees—in 2006-07 and 2007-08

Meanwhile Anil Ambani on Thursday, 15 October 2009 alleged there was a vicious and mala fide campaign against his telecom company RCom by a known rival group and dubbed the special audit report, which claimed that RCom was mis-stating its revenues as biased and prejudiced.

Sterlite Industries (India) will reportedly double its copper smelter production capacity to 800 ktpa along with a 160 megawatt captive power plant with an investment of $500 million (Rs 2,300 crore) at its Tuticorin plant in Tamil Nadu.

Stock of index heavyweight Reliance Industries turns ex-dividend of Rs 13 per share today, 16 October 2009.

Tata Motors and Fiat SpA's joint venture may reportedly sell a number of Chrysler models in India produced at a factory near Pune.

The union cabinet after market hours on Thursday, 15 October 2009 allowed state-run Andrew Yule to sell its 26% stake in a joint venture unit for Rs 62.82 crore. reports quoting the information and broadcasting minister Ambika Soni indicated Andrew Yule would sell its share in Phoenix Yule, a joint venture with German firm Continental AG's subsidiary Phoenix AG, at Rs 49.50 per share.

The board of directors of Rural Electrification Corporation will meet today, 16 October 2009 to mull follow on public offer. Ess Dee Aluminium's board meets today to consider a qualified institutional placement issue while the board of Vivimed Labs meets to discuss issue of preferential shares.

TCS, UltraTech Cement, BASF India, GTL Infrastructure, Monsanto, VST Industries among others will unveil their September 2009 quarterly results today, 16 October 2009.

A total of ten brokerages expect a between 6.8% fall to a 4.9% growth in TCS' consolidated net profit as per US accounting standards at between Rs 1416.30 crore to Rs 1595.40 crore in Q2 September 2009 over Q1 June 2009. Their expectations peg a between 0.4% to 3.8% growth in revenue at between Rs 7237.70 crore to Rs 7478.40 crore in Q2 September 2009 over Q1 June 2009.

The following results for the quarter ended September 2009 were announced after market hours on Thursday, 15 October 2009. Net profit of Supreme Industries rose 91.70% to Rs 19.86 crore in the quarter ended September 2009 as against Rs 10.36 crore during the previous quarter ended September 2008. Sales rose 16.32% to Rs 342.57 crore in the quarter ended September 2009 as against Rs 294.50 crore during the previous quarter ended September 2008.

Net profit of Balaji Telefilms declined 94.37% to Rs 1.02 crore in the quarter ended September 2009 as against Rs 18.12 crore during the previous quarter ended September 2008. Sales declined 60.69% to Rs 40.62 crore in the quarter ended September 2009 as against Rs 103.33 crore during the previous quarter ended September 2008.

Net profit of CMC rose 21.07% to Rs 31.37 crore in the quarter ended September 2009 as against Rs 25.91 crore during the previous quarter ended September 2008. Sales declined 0.72% to Rs 176.09 crore in the quarter ended September 2009 as against Rs 177.36 crore during the previous quarter ended September 2008.

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