Edelweiss maintains a buy on Orbit Corp

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Orbit Corporation

Current market price: Rs 90.10

Brokerage: Edelweiss Securities

Orbit Corporation (Orbit) reported revenues of Rs 73.8 crore, down 9.8 per cent q-o-q and 24.3 per cent y-o-y, for Q2 FY09. The sequential decline was due to lower completion percentage at Orbit WTC and Orbit Eternia. Net profit for the quarter stood at Rs 13.7 crore, as against Rs 39.9 crore in Q2 FY08 and Rs 18.2 crore in Q1 FY09, a decline of 65.6 per cent and 24.8 per cent, respectively.

Three of Orbit’s projects are nearing completion and the company expects Rs 160 crore from customers of these projects by the end of CY08. This amount will be sufficient to fund its construction cost of Rs 100 crore for the year. Further, the company has six projects under construction aggregating 1.06 million square feet of saleable area.

These projects are highly monetisable, albeit at a right price and part sale at few of these projects can generate enough funds for the company to service its debt of Rs 180 crore, including interest cost of Rs 30 crore. The current property environment is adverse and prices are expected to drop, accompanied with lower volumes.

Consequently, the brokerage has revised down its revenue estimates to arrive at an average EPS of Rs 23.1 for FY09 and FY10. At Rs 91, the stock appears attractively priced at 0.5x FY10E book value. Maintain Buy.

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NSE notices 17 October, 2008

Latest NSE announcements and notices from Stockinvest.in


ANG AUTO LIMITED ( 17-Oct-08 )

Chartered Capital and Investments Ltd. has informed the Exchange regarding the details of the equity shares of ANG Auto Ltd. bought back through the Stock Exchange
on October 16, 2008, as follows: 1) Date of Buyback: October 16, 2008; 2) (a) Name of the Broker: Integrated Master Securities Private Limited; (b) No. of equity shares bought back on BSE: 639 ; (c) No. of equity shares bought back on NSE/others: 739; (d) Total no. of equity shares bought back: 1378; (e) Average Price of Acquisition (Rs.): 39.91; 3) Cumulative Equity Shares bought as on October 15, 2008: 365884; 4) Quantity Closed Out on October 16, 2008 - NIL; 5) Quantity Closed Out as on October 15, 2008 - NIL; 6) Total Quantity Closed Out - NIL; 7) Total Equity Shares bought back as on October 16, 2008: 367262.

APOLLO TYRES LTD ( 17-Oct-08 )

Apollo Tyres Ltd has informed the Exchange that: "We have designated the following e-mail ID for redressal of Investor Grievances:- investors@apollotyres.com"

AURIONPRO SOLN LTD ( 17-Oct-08 )

Aurionpro Solutions Limited had informed the Exchange, vide its letter dated October 13, 2008, the proceedings of the Annual General Meeting of the Company held on September 30, 2008. The Company has now informed the Exchange that the company has observed one typographical error in the point No. 2 of the said letter. Rate of dividend declared in the Annual General Meeting is Rs.1.75 per share. While in the said letter the company had written Rs.1.70 per share.

Read all the NSE notices and announcements at Stockinvest.in>>>

BSE notices 17 October, 2008

BSE announcements and notices 17 October, 2008

BOM DYEING ( 17-Oct-08 )

Bombay Dyeing to announce Q2 results Board meeting on 27 October 2008 The board meeting of Bombay Dyeing & Manufacturing Company will be held on 27 October 2008 to approve the unaudited financial results for the second quarter ended 30 September 2008 (Q2).

BEML LTD ( 17-Oct-08 )

BEML to announce Q2 results Board meeting on 29 October 2008 The board meeting of BEML will be held on 29 October 2008 to consider and take record on the un-audited financial results for the second quarter and half year ended 30 September 2008 (Q2).

HIND.PETRO ( 17-Oct-08 )

Hindustan Petroleum Corporation forms CREDA - HPCL Biofuels In association with CREDA Hindustan Petroleum Corporation has formed a subsidiary company i.e. CREDA - HPCL Biofuels in association with Chhattisgarh State Renewable Energy Development Agency (CREDA) constituted for the development of renewable energy sources in the state of Chhattisgarh for the purpose of cultivation of Jatropha Plants for the production of bio-diesel. The company made this announcement during the trading hours today, 16 October 2008.


Read complete list of BSE announcements and notices at Stockinvest.in

NSE notices 16 October, 2008

Latest NSE announcements and notices from stockinvest.in

Peninsula Lan

Peninsula Land Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Net Sales of Rs. 11050 lacs for quarter ending on 30-SEP-2008 against Rs. 11737 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 5460 lacs for the quarter ending on 30-SEP-2008 against Rs. 3369 lacs for the quarter ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Oracle Financial Services Software

Oracle Financial Services Software Limited has informed the Exchange regarding a press release dated October 16, 2008, titled “Oracle announces launch of Oracle FLEXCUBE Regional Support Center in Moscow”. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Sasken Communication Technologies

Sasken Communication Technologies Limited has informed the Exchange vide its letter dated October 16, 2008 that “At the Board meeting held today, Mr. Bharat P Mehta has been appointed as an Alternate Director for Mr. Jyotindra B Mody, in place of Mr. Shirish B. Mody who was hitherto an Alternate Director to him”.

Source: NSE Date: 16th-Oct-2008

HDFC Bank

Hdfc Bank Ltd has informed the Exchange regarding a press release, titled “HDFC Bank Ltd. - Financial Results (Indian GAAP) for the Quarter and Half Year ended September 30, 2008″. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Provogue (India)

Provogue (India) Limited has submitted to the Exchange a copy of the proceedings at the Annual General Meeting of the Shareholders of the Company held on September 15, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

HDFC Bank

HDFC Bank Ltd has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2008 as follows: Interest earned of Rs. 761294 lacs for the half year ending on 30-SEP-2008 against Rs. 443192 lacs for the half year ending on 30-SEP-2007. Interest expended of Rs. 402302 lacs for the half year ending on 30-SEP-2008 against Rs. 228372 lacs for the half year ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 99233 lacs for the half year ending on 30-SEP-2008 against Rs. 68971 lacs for the half year ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Panacea Biotech

Panacea Biotec Ltd. has submitted to the Exchange a copy of the proceedings of the Annual General Meeting of the Company held on September 27, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

HDFC Bank

HDFC Bank Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Interest earned of Rs. 399121 lacs for the quarter ending on 30-SEP-2008 against Rs. 236276 lacs for the quarter ending on 30-SEP-2007. Interest expended of Rs. 212476 lacs for the quarter ending on 30-SEP-2008 against Rs. 120008 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 52798 lacs for the quarter ending on 30-SEP-2008 against Rs. 36848 lacs for the quarter ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Panacea Biotech

Panacea Biotec Ltd. has submitted to the Exchange a copy of the proceedings of the Annual General Meeting of the Company held on September 27, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

HDFC Bank

HDFC Bank Ltd has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2008 as follows: Interest earned of Rs. 399121 lacs for the quarter ending on 30-SEP-2008 against Rs. 236276 lacs for the quarter ending on 30-SEP-2007. Interest expended of Rs. 212476 lacs for the quarter ending on 30-SEP-2008 against Rs. 120008 lacs for the quarter ending on 30-SEP-2007. Net Profit / (Loss) of Rs. 52798 lacs for the quarter ending on 30-SEP-2008 against Rs. 36848 lacs for the quarter ending on 30-SEP-2007.

Source: NSE Date: 16th-Oct-2008

Religare Enterprises

Religare Enterprises Limited has informed the Exchange regarding a press release dated October 16, 2008, titled “Religare signs up ace golfer Jyoti Randhawa”. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Religare Enterprises

Religare Enterprises Limited has informed the Exchange regarding a press release dated October 16, 2008, titled “Religare signs up ace golfer Jyoti Randhawa”. A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Coral India Finance and Housing

Coral India Finance & Housing Ltd has submitted to the Exchange a copy of the minutes of the Annual General Meeting of the members of the Company held on September 25, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

Gateway Distriparks

Gateway Distriparks Limited has informed the Exchange vide its letter dated October 14, 2008 the Reconciliation of Share Capital of the company, (pre and post extinguishment). The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE Date: 16th-Oct-2008

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BSE announcements 16 October, 2008

Latest BSE announcements and notices from Stockinvest.in

MMTC Ltd

MMTC Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2008, to consider and take on record the unaudited financial results of the Company for the quarter ended on September 30, 2008 (Q2).

Source: BSE Date: 16th-Oct-2008

Religare Enterprises

Religare Enterprises Ltd has informed BSE regarding a Press Release dated October 16, 2008 titled “Religare signs up ace golfer Jyoti Randhawa”

Source: BSE Date: 16th-Oct-2008

Camlin Fine Chemicals

Camlin Fine Chemicals Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 16th-Oct-2008

Bank Of India

Bank of India has informed BSE that the Bank has raised Tier- II Capital through issue of Upper Tier-II Capital Bonds of Rs 500 Crores on October 16, 2008. The coupon rate is 11.15% p.a. and tenure is 15 years with a Call Option after 10 years.

Source: BSE Date: 16th-Oct-2008

ITL Industries

ITL Industries Ltd has informed BSE that the Company has received a bulk Order worth of Rs 54.93 Crores from M/s. Steel Authority of India Ltd (SAIL), the biggest single order in the Company’s history for supply of Slitting Line and Tube Mill

Source: BSE Date: 16th-Oct-2008

Marathwada Refractories Ltd

Marathwada Refractories Ltd has informed BSE that the 29th Annual General Meeting (AGM) of the Company was held on September 29, 2008.

Source: BSE Date: 16th-Oct-2008

Allcargo Global Logistics

Allcargo Global Logistics Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 25, 2008, inter alia, to consider and approve the following: 1. The Un-audited Financial Results of the Company for the 3rd Quarter and Nine months ended September 30, 2008. 2. Sub-division (Split) of the nominal value of equity shares of the Company.

Source: BSE Date: 16th-Oct-2008

Lloyd Electric and Engineering

Lloyd Electric & Engineering Ltd has informed BSE that the members of the Company by way of postal ballot, have passed the Ordinary resolutions, with requisite majority: 1. Increase in the borrowing limits under Section 293(1)(d) of the Companies Act, 1956. 2. To mortgage / charge the properties of the Company.

Source: BSE Date: 16th-Oct-2008

Supreme Infrastructure India

With reference to the earlier announcement dated October 07, 2008 regarding Board Meeting on Oct 18, 2008, Supreme Infrastructure India Ltd has now informed BSE that due to some unavoidable condition, the Board of Directors of the Company will not be meet on pre decided date i.e. October 18, 2008, therefore the schedule of the Board Meeting has been decided October 25, 2008. Further the Company has informed that, all the matter will be same, which were mentioned in the previous notice dated October 08, 2008 in this regard.

Source: BSE Date: 16th-Oct-2008

Garden Silk Mills

Garden Silk Mills Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 24, 2008, inter alia, to consider and take on record the Audited Financial Results of the Company for the year ended June 30, 2008 and recommendation of dividend, if any. At the aforesaid meeting the Board of Directors will also consider and take on record the Unaudited Financial Results (Provisional) of the Company, for the first quarter ended September 30, 2008.

Source: BSE Date: 16th-Oct-2008

Hindalco Industries

With reference to the earlier announcement dated October 13, 2008 regarding Issue of Warrants on a Preferential basis, Hindalco Industries Ltd has now informed BSE that the date of receipt of Rs 17.387 against each Warrant should be read as “April 11, 2007″ instead of “April 10, 2008″. The Corrected Announcement should be read as follows : “With reference to the allotment of 8 Crore Warrants made by the Company on April 11, 2007 on a preferential basis to IGH Holdings Pvt. Ltd in pursuance of the approval accorded by the Members of the Company at the EGM held on February 25, 2007 and in respect of which in principle approval was granted by the Stock Exchanges. The holder of each warrant was entitled to apply for and obtain allotment of one Equity Share against each Warrant at the rate of Rs 173.87 per share. The Company had received Rs 17.387 against each Warrant on April 11, 2007. As per the provisions of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000, the Warrant Holder can exercise the right for conversion of Warrant into Equity Shares within 18 months from the date of the allotment i.e. within 18 months from April 11, 2007 by paying the balance amount. Further note that IGH Holdings Pvt. Ltd has not exercised its right for conversion of the Warrants into shares within the time stipulated under the preferential guidelines. Accordingly, the aforesaid Warrants now stands lapsed.”

Source: BSE Date: 16th-Oct-2008

Sasken Communication Technologies

Sasken Communication Technologies Ltd has informed BSE regarding a Press Release dated October 16, 2008 titled “Sasken Q2 FY 09 Revenues at Rs 176.3 crores - up 23% YoY”.

Source: BSE Date: 16th-Oct-2008

Sree Rayalaseema Alkalies and Allied Chemicals

Sree Rayalaseema Alkalies & Allied Chemicals Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE Date: 16th-Oct-2008

SKM Egg Products Export (India)

SKM Egg Products Export India Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on September 09, 2008.

Source: BSE Date: 16th-Oct-2008

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