BSE notices 13 October, 2008

Latest BSE announcements and notices from Stockinvest.in

GMR Infrastructure

GMR Infrastructure Ltd has informed BSE that special lounge with nap & shower facility inaugurated at the Rajiv Gandhi International Airport (RGIA). This facility is a new concept in Indian airports, is now opened at RGIA. In this connection, GMR Hyderabad International Airport Ltd, a Subsidiary of the Company has issued a Press Release dated October 13, 2008 titled “Special lounge with Nap & Shower facility inaugurated at the Rajiv Gandhi International Airport”.

Source: BSE Date: 13th-Oct-2008

KDL Biotech

Kdl Biotech Ltd has informed BSE that the Company will publish Audited Financial Results within a period of three months from the end of the last quarter of the financial year ended on September 30, 2008. Therefore, the Company will not publish unaudited financial results for the last quarter ended September 30, 2008.

Source: BSE Date: 13th-Oct-2008

Tata Communications

Tata Communications Ltd has informed BSE regarding a Press Release dated October 13, 2008 titled “Tata Communications and Internet Systems Consortium Partner for IPv6 Domain Name System Hosting”.

Source: BSE Date: 13th-Oct-2008

Navin Fluorine International

Navin Fluorine International Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 21, 2008, inter alia, to consider the Un-audited Financial Results of the Company for the quarter ended September 30, 2008 and also to consider the declaration of Interim Dividend for the year 2008-2009

Source: BSE Date: 13th-Oct-2008

Cranes Software International

Cranes Software International Ltd has informed BSE regarding a Press Release dated October 13, 2008 titled “Cranes Software announces the release of the NISA/CIVIL Version 16″.

Source: BSE Date: 13th-Oct-2008

Micro Technologies

Micro Technologies India Ltd has submitted to BSE a copy of the Public Announcement dated October 13, 2008 titled “Micro Technologies Launches Micro Wi-Fi Security System”.

Source: BSE Date: 13th-Oct-2008

Hindustan Zinc

Hindustan Zinc Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 21, 2008, for considering quarterly financial results after limited review for the quarter / six month ended September 30, 2008 (Q2)..

Source: BSE Date: 13th-Oct-2008

Vijayeswari Textiles

Vijayeswari Textiles Ltd has informed BSE that the 54th Annual General Meeting (AGM) of the Company was held on September 27, 2008.

Source: BSE Date: 13th-Oct-2008

BASF India

BASF India Ltd has informed BSE about the unaudited financial result for the Quarter ended Sep 30, 2008..

Source: BSE Date: 13th-Oct-2008

Tata Power Company

Tata Power Company Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on September 10, 2008..

Source: BSE Date: 13th-Oct-2008

Escorts

Escorts Ltd has informed BSE that in respect of results for the last quarter of the financial year ended September 30, 2008, the Company will publish audited results by the end of December 31, 2008. Hence, unaudited financial results for the last quarter shall not be published..

Source: BSE Date: 13th-Oct-2008

Duroflex Engineering Ltd

Duroflex Engineering Ltd has informed BSE that the members of the Company will pass the Special Resolution by way of Postal Ballot..

Source: BSE Date:13th-Oct-2008

MRF

MRF Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 21, 2008, inter alia, to consider, declaration of Second Interim Dividend for the year ended September 30, 2008..

Source: BSE Date: 13th-Oct-2008

SAAG RR Infra

SAAG RR Infra Ltd has informed BSE regarding the minutes of the 13th Annual General Meeting (AGM) of the Company held on September 29, 2008.

Source: BSE Date: 13th-Oct-2008

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FM's Statement on the Indian stock market and economy

The stock market melt down had once again forced the Indian Finance Minister to come out and make a statement to soothe the nerves of Indian Stock market investors.

I am reproducing below something the FM had said in March 2008

“Growth is imperative. Inclusive growth is our goal and we will make every effort to ensure that growth becomes more inclusive.

I mentioned the financial health of the country. World over, there are well-accepted parameters to measure financial health, not only in economic terms but also in terms of human development indicators. Some human development indicators have improved while some have not. Infant mortality rate and maternal mortality rate have not improved. But school enrollment, retention in school and life expectancy has improved. In many diseases, there has been significant improvement. We have still a long way to go in human development indicators.

The subprime mortgage market crisis did not directly affect us. Except for one private sector bank, which has made a disclosure, none of our public sector banks have any exposure to the subprime mortgage market.

When the crisis moved from the subprime mortgage market to the housing market and from the housing market to the credit market, there is some impact upon India. There is an impact in terms of the credit flows and financial flows. But all our assessment, as well as the assessment of many impartial observers, indicates that the impact upon India will be a second order impact not a first order impact.”

Chidambaram said that Indian stock markets have been moderately impacted by the US subprime crisis. This was while he was debating the Budget in the Rajya Sabha.

Only time will tell if the Indian stock markets and the economy will bounce back from the current turmoil without hurting the investors too much.

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Yahoo! first quarter results had beaten street expectations

Yahoo Incs. first-quarter results that surpassed analysts’ modest expectations. Yahoo’s earning per share are 11 cents a share compared to Wall street expectation of 9 cents per share.

The Sunnyvale-based company said Tuesday that it earned $542.2 million, or 37 cents per share, more than triple its profit of $142.4 million, or 10 cents per share, at the same time last year.

Most of the first-quarter improvement stemmed from a non-cash gain of $401 million recorded to recognize Yahoo’s stake in the parent company of Alibaba.com, a leading e-commerce site in China that went public last year.

If not for the Alibaba windfall, Yahoo would have earned 11 cents per share — comparable to its profit at the same time last year, on an apples-to-apples basis.

The results were 2 cents above the average earnings estimate on the same basis among analysts surveyed by Thomson Financial.

Revenue climbed 9 percent to $1.82 billion.

After subtracting commissions Yahoo paid its advertising partners, its revenue totaled $1.35 billion — just $30 million ahead of analysts’ average projection.

The performance provided another pointer to the ever-widening gap separating Yahoo from Internet search and advertising leader Google Inc., whose first-quarter profit climbed 30 percent to $1.3 billion on revenue that rose 42 percent to $5.2 billion.

Perhaps even more importantly, Yahoo didn’t raise its revenue outlook for the remainder of year.

Yahoo expects its revenue to increase more dramatically in 2009 and 2010 as the benefits from its expanded Internet advertising network start to kick in. “We feel we are on the verge of fundamentally changing the game,” Sue Decker, Yahoo’s president, said in Tuesday’s conference call.

The confident tone of Yahoo’s management contrasted with a more glum tenor at the end of January when Yang warned economic “headwinds” might complicate the company’s turnaround efforts. The bleak outlook came just two days before Microsoft made its unsolicited takeover offer.

Yahoo ended March with 13,800 employees, down from 14,300 workers at the end of 2007. The company jettisoned more than 1,000 workers during the first quarter, but offset some of the purge by hiring about 600 new employees.

Investors didn’t seem to be impressed as Yahoo shares shed 19 cents in extended trading after dipping a penny to finish the regular session at $28.54.

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The Failed Yahoo! Microsoft talks

The way Microsoft had withdrawn its bid for Yahoo! seemed all too subdued, but it seems the Redmond software giant does not give up so easily.

Microsoft said Sunday that it is considering doing an unspecified deal with Yahoo!, but it’s not seeking another acquisition of the Internet portal–at least for now. Does this mean Microsoft will look to acquire Yahoo! on a later date? Seems very much possible.

Microsoft Corp. said on Sunday that it is talking to Yahoo Inc. about a transaction that doesn’t involve a full buyout like the software maker’s $47.5 billion offer that didn’t come through earlier this month.

Microsoft declined to provide details of its proposed deal with Yahoo!, but the transaction likely involves Yahoo!’s search advertising business. The deal could be structured two ways: as an acquisition of that business or a partnership in which Yahoo! outsources its search ads to Microsoft. Yahoo! has also been in discussions with Google about such an outsourcing partnership.

Yahoo! said in a statement that it had responded to Microsoft’s latest overture by telling the software giant that it’s not interested in being acquired at this time, but it’s “open to pursuing any transaction which is in the best interest of our stockholders.”

Even though Microsoft said Sunday it isn’t trying to acquire all of Yahoo!, it noted that it “reserves the right to reconsider that alternative depending on future developments and discussions that may take place with Yahoo! or discussions with shareholders of Yahoo! or Microsoft or with third parties.”

Many analysts believe that despite Microsoft’s assurances it is moving ahead without Yahoo, the software maker would revive its bid, likely at a lower price, if the Silicon Valley icon’s stock continues to languish.

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