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ViJiT

Reliance Communication announces unaudited March quarter results

Reliance Communication Ventures Ltd has announced the following unaudited results for the quarter ended March 31, 2006:

The Company has posted a net profit after tax of Rs 151.70 million for the quarter ended March 31, 2006. Total Income is Rs 625.60 million for quarter ended March 31, 2006.

The Proforma Consolidated results are as follows:

The Group has posted a profit after tax of Rs 4030 million for the quarter ended March 31, 2006. Total Revenue is Rs 29700 million for quarter ended March 31, 2006.

Further the Company has informed that the Board of Directors of the Company has appointed Shri. Deepak Shourie as Independent Director of the Company.

Commenting on the results, Mr. Anil Dhirubhai Ambani, Chairman, of the Company said:

"Reliance Communications - India's youngest, fastest, largest communications Company - maintained its market leadership, with product offerings best suited to the requirements of millions of customers across all segments and in each and every service area.

Our Wireless business achieved the highest ever acquisitions of 3.20 million customers in a single quarter, with our total base crossing a record 20 million customers as at March 31, 2006 - India's largest wireless customer base.

The EBITDA margin of the Wireless business expanded from 32% to 36%, led by record customer acquisitions, economies of scale, cost efficiencies and productivity gains.

Increased volumes in long distance voice and international data, combined with cost efficiencies, resulted in an expansion in EBIDTA margins of our Global business from 15% to 19%.

The Broadband business achieved revenue growth of 54%, and strong EBITDA margin expansion from 20% to 31% sequentially.

I am delighted that, with the listing of Reliance Communications during the quarter, our over 2 million investors now have the opportunity to directly participate in the Company's growth and value creation."

ViJiT

Proposal for demerger of real estate arm spurs Indiabulls

Indiabulls Financial Services 15% to Rs 362 after the company decided to hive off its real statement business into a separate company.

As many as 3.6 lakh shares changed hands in the counter on BSE.

Ahead of the announcement, the stock had jumped 10.9% on Saturday (29 April) to Rs 313.40. Though the stock had plunged 9.1% on Friday (29 April) to Rs 282.50, the scrip had staged a sharp intra-day rebound after news trickled in during late trading that SEBI had temporarily lifted the ban on Indiabulls Securities after a hearing with the brokerage, with respect to IPO scam.

Indiabulls Financial Services has decided to spin off its real estate business into a separate company, Indiabulls Real Estate. The shareholders of Indiabulls Financial Services would get one share of the new company for every share held, Indiabulls said in a late Monday release. Shares in new entity, Indiabulls Real Estate, will be listed on stock exchanges, the release added.

Indiabulls Financial Services, a predominantly stock-brokerage, has recently entered the real-estate business in a big way through its subsidiary companies. Only last week, Indiabulls had announced a 50:50 joint venture (JV) with DLF called Kenneth Builders & Developers to develop residential and commercial properties across India. To start with, Kenneth Builders & Developers has acquired 35.8 acres of land from Delhi Development Authority (DDA) through a competitive bidding process for Rs 450 crore. DDA had called for bids to develop residential projects under its public-private partnership project.

Early last week, Indiabulls Financial Services said its net profit for the fourth quarter ended 31 March 2006 increased to Rs 80.38 crore, compared to Rs 23.03 crore in the same period last year. The income for the same period rose by 179 % to Rs 195.5 crore, from Rs 70.06 crore, a company release stated.
Credit :-S&Y Market View

ViJiT

Friday, April 28, 2006
IPO listings for this week

1) Emkay Shares & Stock closed above its issue price

Emkay Shares & Stock, which listed on the stock exchanges, closed above
its issue price of Rs 120 per share.

2) Tantia Const ends at Rs 220 with premium of 340% on BSE

Tantia Constructions, which listed on the BSE, closed above its issue
price of Rs 50. It closed with attracting premium of 340%. Its BSE ID
is 532738. The issue was subscribed 82.68 times.

3) Powersoft Global closes below its issue price

Powersoft Global Solutions listed on the Bombay Stock Exchange, closed
below its issue price of Rs 22 per share. It opened at Rs 25 per share.
Its BSE ID is 532736.

ViJiT

IPO Updates

1) SEBI talks with stock exchanges to rate IPOs

Market regulator Sebi will put in place a mechanism for rating of public issues of companies in consultation with stock exchanges, reports The Economic Times.

2) RPL fixes issue price at Rs 60

Reliance Petroleum, RPL, has fixed its issue price at Rs 60 per share.
RPL had entered the capital market for subscription on April 13 with a public issue of 135 crore equity shares of Rs 10 each. The price band had been set at Rs 57 to Rs 62 for the issue. The issue had been subscribed 51.32 times.

3) Sun TV ends above its issue price

Sun TV, which got listed today, closed above its issue price of Rs 875 per share. It opened at Rs 1,111 on the BSE and at Rs 1000 on the NSE. On the BSE, the share closed at Rs 1466.05, with volumes of 52,98,866. It touched an intraday high of Rs 1500 and an intraday low of Rs 1061. On the NSE, the share closed at Rs 1464.65, with volumes of 1,15,85,515. It touched intraday high of Rs 1502.90 and an intraday low of Rs 1000.

4) Opto Circuits ends at Rs 392.20 on BSE

Opto Circuits which got listed today, closed above its issue price of Rs 270 per share.
It opened at Rs 392 on the BSE and at Rs 390 on the NSE. Its NSE ID is OPTOCIRCUI and BSE ID is 532391. The issue price was at Rs 270.

5) Godawari Power & Ispat to list on April 25

Godawari Power & Ispat will list on the stock exchanges on April 25, 2006. Its BSE ID 532734 and NSE ID is GPIL. The stock was issued at Rs 81.

ViJiT

Thursday, April 20, 2006
Reliance Petroleum IPO Over Subscribed 16.5 Times

According to the latest estimates available, the Initial Public Offer of Reliance Petroleum has been over subscribed 16.5 times.

Reliance Petroleum is a unit of petrochemicals major Reliance Industries Ltd. Reliance Petroleum is offering 450 million shares to the public to partly finance the Rs. 27,000 crores refinery being set up in a special economic zone at Jamnagar, in Gujarat. The project is likely to go on stream by December 2008. The issue, for which the indicative price band is Rs. 57 to Rs. 62 a share, opened on Thursday and closes April 20. Other than the current IPO, foreign funds have already bought 450 million shares at Rs.60 each in a pre-IPO placement. Reliance Industries subscribed for 900 million equity shares one day prior to the opening of the public issue at Rs. 62 a share, amounting to a total of Rs. 5,580crores. Chevron Corp. (CVX charts news PowerRating) is buying a 5% stake in Reliance Petroleum Ltd. for $300 million, with an option to increase its stake to 29%. After the IPO, the total outstanding equity of Reliance Petroleum will be 4.5 billion shares, with parent Reliance Industries holding about 75% equity.

ViJiT

Monday, May 01, 2006
IPO market to come out stronger after fraud, say experts

One major concern, according to experts is small retail investors looking for redemptions. If this does happen, then there would be a liquidity crisis for the next few days, atleast before one starts to think of buying.

According to the Investment advisor, PN Vijay, the positive side to the IPO scam is that the IPO market will come out stronger after the fraud.

He said that one should allow stabilization to take place in the markets. The derivative market is expected to go under a bit of spin and will take a couple of days to settle again.

However, at the same time the great thing is that corporate results have been very good, which will attract buyers at lower levels, he says adding fundamentally things haven't changed much.

Experts further say that the important thing to look at now is reaction from FIIs. If it dents their confidence then there could be a phase of prolong weakness, else situation may improve after a probable initial wild reaction, they say.

It is a big relief for brokers like Anagram Securities and Karvy, as the Sebi has issued revised orders allowing them to trade on behalf of their clients.