Suspension of companies

The undermentioned 10 companies, have failed to comply with various provisions of the Listing Agreement till quarter ended September 2007 – Sr.No. Scrip Code Company Name 1 517356 ACI Infocom Ltd 2 506947 Advance Petrochemicals Ltd 3 532378 Universal Arts Ltd 4 530977 Katwa Udyog Ltd 5 532092 Kirti Finvest Ltd 6 505523 Maharashtra Industrial Leasing & Investments Ltd 7 531494 Navkar Builders Ltd 8 523151 OTCO International Ltd 9 500361 Ras Propack Lamipack Ltd 10 532025 Sowbhagya Media Ltd Consequently, trading in securities of these 10 companies listed on Bombay Stock Exchange Limited will be suspended w.e.f. Monday, April 07, 2008, on account of non-compliance with the provisions of the Listing Agreement, for the following period(s) - (i) in case, the company complies (to the satisfaction of the Exchange) with all the provisions of the Listing Agreement on or before Friday, March 28, 2008, trading in securities of the company will be suspended for 5 days i.e. upto Friday, April 11, 2008. (ii) in case a company complies (to the satisfaction of the Exchange), with all the provisions of the Listing Agreement on or before Tuesday, April 22, 2008, the trading in securities of a company will be suspended for 30 days i.e. upto Tuesday, May 06, 2008. (iii) however, in case the company fails to comply with all the provisions of the Listing Agreement, to the satisfaction of the Exchange on or before Tuesday, April 22, 2008, the suspension will continue till such time the Company complies with the procedure prescribed for revoking suspension in a scrip.

Twilight Litaka Pharma

BSE Code: 506985 Last Close: Rs.54.55 This Pune based high growth Pharma company has an equity of Rs.10.64 cr. and the promoters hold 63.74% stake in the company. It has a face value of Rs.5 per share. Since the last 3 years, the company has been farinf well and has reported fantastic results. Net profit jumped 51.80% to Rs.15.62 cr. while Net sales jumped 46.43% to Rs.214.81 cr. in the first nine months of FY08. We expect the company to post an EPS of Rs.10 this year. As such, the stock is available at PE ratio of just 5.45. Last month, its stock price touched Rs.107.80 but in this poor sentiment it is available at just Rs.54.55. Buy with medium-to-long-term investment point of view with a stop loss of Rs.49/-. On the upper side, the stock price can touch Rs.72, crossover will take it to Rs.87 in medium term. The stock price can cross it’s 52-week high in the next one year.

कार्पोरेट खबर......................

Bajaj Auto, the country's second-largest two-wheeler maker, announced a reduction in prices of motorcycles. The price of entry-level 100cc model Platina has been reduced by Rs 3,000, and the showroom price now stands at Rs 30,000. The prices of Discover (125cc and 135cc), Pulsar (150cc and 180cc) and automatic scooter Krystal have been reduced by Rs 1,000.
Religare Enterprises, along with Vistaar Entertainment Ventures, announced the launch of Vistaar Religare Film Fund (VRFF), India's first regulated film fund. The fund will, in the first round, have a corpus of approximately Rs 200 crore and would be close-ended in nature with a lock-in of five years.
Everest Kanto Cylinder has signed an asset purchase agreement with US-based Reunion Industries Inc to buy assets and liabilities of its pressure vessels division, CP Industries, for approximately Rs 259 crore in cash, subject to adjustment, bankruptcy court proceedings and regulatory approvals.
Tata Communications is planning to invest $500 million in WiMAX services by 2010, and is in talks with investors to sell minority stake in its retail business. The company has selected Telsima Corporation to provide WiMAX solutions for broadband wireless network in India.
Indraprastha Gas cut CNG price by Rs 0.20 per kg to Rs 18.90 per kg in view of 2 per cent cut in excise duty announced in the Union Budget.
BGR Energy Systems has been pre-qualified for the proposed Rs 750 crore 150 MLD (million litre per day) Kutch Desalination Plant in Gujarat. BGR Energy has formed a Consortium with very large Spanish construction companies namely, Inima Medioambiente, S.A. (OHL Group) and Aqualia, Gestion Integral Del Agua, S.A. (Group of FCC).
Anil Dhirubhai Ambani Group Chairman Anil Ambani said that the work on the Rs 20,000-crore Ultra Mega Power Project at Sasan, which his group company Reliance Power had won, would begin in next 90 days and the plant will be fully operational in 50-60 months. He also said that power generation from Rossa power project in Uttar Pradesh is expected to start from 2009.
ICICI Bank Ltd., India's second- largest bank, reported $264 million of costs to write down the value of overseas investments, the biggest loss disclosed by an Indian bank since the collapse of the U.S. subprime market. ICICI set aside $90 million through December and $70 million will be earmarked in fourth-quarter earnings. The rest will be set off against the bank's net worth

B12 stocks shifted to A group

The Bombay Stock Exchange (BSE) has moved nearly 63 B1 group stocks to the A group, taking the total number of A group shares to 200 with effect from Monday. Stocks such as Aban Offshore, Adlabs Films, Biocon, Deccan Aviation, GVK Power and Infrastructure, India Infoline and Jai Corporation have been moved from the B1 or B2 group to A group.

At the same time, nearly 83 stocks including Novartis, Mic Electronics, Bongaigaon Refinery, Orchid Chemicals and Maharashtra Seamless have been dropped from the A group.

The addition of stocks in the A group will enable investors, especially those participating in the derivatives market, to access a broader universe of stocks for leverage purposes. The widely held opinion following the market fall of January, was that the universe of A group stocks or liquid stocks was limited. So the BSE issued a circular in February, revising the eligibility criteria for inclusion of scrips in the A group. On February 18, the exchange brought out a revised list of A group stocks. There are no circuit limits for A group stocks and hence investors would be in a position to sell such stocks to make up for their losses in the derivatives segment. The National Stock Exchange (NSE) had come out with a circular earlier, clarifying that there would be 694 approved securities towards liquid assets in the futures and options segment with effect from February 1.