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Closing Bell
August, 23rd 2008

The Bombay Stock Exchange's 30-share Sensex Friday closed at 14,383.37, up 139.64 points or 0.98 per cent from the previous day's close. The high in the few minutes of trade was 14,428.52, and low 14,136.86. National Stock Exchange's 50-stock Nifty was at 4319.65, up 35.80 points or 0.84 per cent.


3:30 pm: Indusvista Ventures' board will meet on Aug 26, 2008, to consider the audited financial results, including dividend if any, along with auditors and directors report for the year ended March 31, 2008.


3:20 pm: Alchemist has reported that a meeting of the board of directors of the company will be held on Sept 1, 2008, to consider and approve the annual accounts for the year 2007-08 and recommend dividend, if any.


3:10 pm: Networth Stock Broking has reported that the board meeting will be held on August 25, 2008, to review the expansion plan of the company and to consider the raising of funds for the same by issue of appropriate securities or instruments.


03:00 pm: Micro Technologies Indias board meeting will be held on August 29, 2008, to consider and take on record the audited financial results for the financial year ended March 31, 2008 and to consider the proposed dividend.


2:50 pm: With reference to the news item appearing in a leading financial daily titled Oberois may offload EIH stake to strategic investor, EIH has clarified that the facts contained in the article are absolutely baseless, untrue and mischievous.


2:40 pm: Jai Balaji Industries has signed a memorandum of understanding with Chhattisgarh government or setting up an integrated steel plant in the Chhattisgarh. The company shares were up 0.96 per cent to Rs 237.80 on NSE.


2:30 pm: ICSA India's board meeting will be held on August 29, 2008, to consider the audited financial results for the Year ended March 31, 2008 and recommendation of dividend.


2:20 pm: The media had reports that the promoters of the company may offload stake to strategic investor. The exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. EIH Limited has vide its letter inter-alia stated, "The facts contained in the media are absolutely baseless, untrue and mischievous."


2:10 pm: Cords Cable Industries board meeting will be held on Sept 1, 2008, to consider the audited financial results for the year ended March 31, 2008 and to declare dividend.


02:00 pm: Mastek, a Leading IT soLutions player with global operations in providing new technoLogy and IP-ted enterprise solutions to insurance, government and financiaL service organizations worldwide, reported that they have bagged the Maharashtra Information Technology Award 2008 given by the Government of Maharashtra, Directorate of Industries under the category IT Software.


1:50 pm: AIA Engineering Ltd has informed BSE that the Company has designated ric@aiaengineering.com as an email Id of the grievance for the purpose of registering company of investors.


1:40 pm: VBC Finance & Leasing has reported that the objects and name of the company has been changed to Basil Infrastructure Projects from VBC Finance & Leasing with the approval of members through postal ballot and the same has been registered with the registrar of companies, Andhra Pradesh.


1:30 pm: Jaiprakash Associates has reported that the dividend, if declared, at the annual general meeting to be held on Aug 27, 2008, will be paid from Sept 9, 2008 onwards.


1:20 pm: Valiant Communications has reported that the board meeting will be held on Sep 8, 2008, to consider the proposal of buyback of equity shares of the company.


1:10 pm: Goldstone Technologies board meeting will be held on August 30, 2008, to consider the audited financial statements for the financial year ended March 31, 2008 and recommendation of dividend if any, on the equity shares.


01:00 pm: Seamec has reported that after completing the repairs, the vessel has gone back on charter. On hire resumed with client Condux SA de CV, Mexico with effect from August 15, 2008. The company shares were up 0.38 per cent to Rs 118.50 on BSE.


12:50 pm: Sunrise Infotainment, a 100 per cent subsidiary of PVR which operates a six screens multiplex with 1,783 seats, situated at Oberoi Mall, Goregaon, has been granted the exemption from the payment of entertainment tax under the Provisions of Bombay Entertainment Duty Act, 1923, by the Maharashtra government for a period of five years.

The exemption available to the multiplex is as under 1) For the first three year - Exemption available: 100 per cent of the Entertainment tax and 2) For the fourth and fifth year - exemption available: 75 per cent of the Entertainment tax


12:40 pm: Alka Securities has proposed dividend at Rs 0.15 (7.5%) on equity shares for the year as final dividend. The company shares were up 0.50 per cent to Rs 30.20 on BSE.


12:30 pm: MM Forgings has reported that the shareholders at the annual general meeting held on Aug 18, 2008, has approved the issue of bonus shares in the ration of 1:1. The company shares were up 3.83 per cent to Rs 176 on BSE.


12:20 pm: Era Infra Engineering has bagged a contract for up-gradation, renovation and new construction for Commonwealth Games 2010 in J N Stadium Sports Complex, New Delhi. SH: internal space planning of main stadium building including repair work of upper tier , from Central Public Works Department to Rs 111.27 crore.


12:10 pm: Nahar Capital & Financial Services shares were up 14.51 per cent to Rs 44.20 on BSE. The company has recommended dividend at the rate of 30 per cent on the equity share capital for the year 2007-08.


12:00 pm: Astral Poly Technik has reported that Ashirvad Pipes Private, Bangalore has taken out an ex-party injunction order against the company for an alleged infringement of a design applied to one of the company's products that is elbow joints from City Civil Court, Bangalore City. The company has now reported that the High Court of Karnataka, Bangalore has delivered it's verdict in favor of Astral Poly Technik and dismissed the case.


11:50 am: Syncom Formulations India has recommended the dividend at rate of 5 per cent (Rs 0.50 per equity shares of Rs 10 each) on equity shares of Rs 10 each for the year 2007-08.


11:40 am: Cadila Healthcare has filed a company application with High Court of Gujarat on August 11, 2008 for composite scheme of arrangement between Carnation Nutra - Analogue Foods and Cadila Healthcare and Zydus Hospitals and Medical Researchand their respective equity shareholders and creditors.

Subsequently, the High Court of Gujarat, by an order made on Aug 13, 2008 has directed that a meeting of the equity shareholders and unsecured creditors be convened and held on Sept 18, 2008 for the purpose of considering, and if thought fit, approving with or without modification, the composite scheme of arrangement between Carnation Nutra - Analogue Foods and Cadila Healthcare and Zydus Hospitals and Medical Researchand their respective equity shareholders and creditors.


11:35 am: Acrysil has reported that the board meeting will be held on Aug 29, 2008, to issue and allot equity shares on second conversion of warrants.


11:30 am: SB&T International has reported that the board meeting will be held on August 30, 2008, to consider the audited financial results for the financial year ended March 31, 2008 and declaration of final dividend.


11:25 am: Supreme Petrochem's net profit fell 32.11 per cent to Rs 22.57 crore for the quarter ended on June 30, 2008 compared with Rs 33.25 crore for the same quarter ended in 2007. Net sales decreased 0.91 per cent to Rs 1,481.27 crore in Apr-Jun quarter of 2008 against Rs 1,494.85 crore in the corresponding quarter of previous year.


11:20 am: Veer Energy & Infrastructure has reported that a meeting of the board of directors will be held on August 29, 2008, to decide about the issue of bonus shares.


11:15 am: Man Industries (India) has reported that "This is with regard to Insider Trading information submitted by us on 20th August, 2008. JPA Holdings Private Limited has purchased 25,000 shares of our group company Man Aluminium but by oversight we have submitted the information in Man Industries (India). So we request you to ignore the information submitted on August 20, 2008.


11:10 am: Jagsonpal Pharmaceuticals' board will meet on Sept 1, 2008, to consider and approve the audited financial results for the quarter / year ended March 31, 2008 and recommend dividend, if any.


11:05 am: Nahar Capital & Financial Services's net profit rose to Rs 13.74 crore in Apr-Jun quarter of 2008 compared with Rs 1.5 lakh for Jan-Mar quarter of 2008. Net sales has increased to Rs 16.03 crore for the first quarter of 2008-09 against the last quarter of Rs 88.8 lakh.


11:00 am: Fem Care Pharma has reported that the board meeting will be held on Sept 1, 2008, to consider and approve the audited financial results for the year ended March 31, 2008. The company will also consider for the recommendation of dividend, if any, on the equity shares.


10:55 am: Phoenix Mills has reported that MPC Synergy, a German based Company will be investing up to EURO 200 million at the special purpose vehicle level of the Phoenix Mills Group as well as the EWDPL Group. Phoenix Mills holds about 42 per cent stake in EWDPL India.


10:50 am: Hipolin board meeting will be held on August 30, 2008, to consider the annual accounts for the year ending March 31, 2008 and to consider about payment of Dividend (if any).


10:45 am: Indian Bank shares were up 1.81 per cent to Rs 113.10 on BSE. The bank has decided to increase the interest rates on domestic term deposits for the period one year to less than two years from 9.50 per cent to 10 per cent per annum. Interest rates in all other slabs and other terms and conditions remain unchanged.


10:40 am: Supreme Petrochem shares were down 2 per cent to Rs 19.65 on BSE. The company has recommended dividend of 10 per cent for the year 2007-08 on equity shares entailing an outgo of Rs 11.51 crore including dividend distribution tax.


10:35 am: South Asian Petrochem shares were up 4.69 per cent to Rs 14.50 on BSE. The company has entered into a license agreement with Asahi Kasei Chemicals Corporation, Japan, to construct a plant to manufacture polycarbonate using AKC's environmentally friendly technology. The proposed capacity of the plant will be 1,30,000 tonner per annum. It will enjoy exclusivity for a period of seven years and no other license will be given by AKC in India. The plant would be put up in a separate company.


10:30 am: Gogia International Securities has decided to apply for clearing and trading membership in currency derivatives segment of National Stock Exchange of India. The company shares were up 4.87 per cent to Rs 79.65 on NSE.


10:25 am: KGN Industries shares were down 5 per cent to Rs 1,743.70 on BSE. The company has recommend dividend for the financial year 2007-08 at the rate 0.04 per cent.


10:20 am: Vishal Retail shares were up 0.93 per cent to Rs 400.55 on BSE. The company has opened a new showroom at Village Damkheda, Bhopal with an area covered 20,150 square feet. The total number of stores has reached 131 stores spread across India, spreading on an area of 24,43,000 square feet.


10:15 am: Panoramic Universal has reported that the board meeting will be held on August 30, 2008, to consider and approve the audited financial accounts for the year ended March 31, 2008. To recommend final dividend on equity shares of the company.


10:10 pm: Pricol has reported that there is a labour unrest in Plant I & Plant III and partial lockout in the company's plant I, situated at Coimbatore. The company shares were up 1.54 per cent to Rs 16.50 on BSE.


10:05 am: Atlas Cycles Haryana has recommended a divided at the rate of 45 per cent per annum on 32,51,919 equity shares for the year ended on March 31, 2008. The company shares were up 0.17 per cent to Rs 120.75 on BSE.


10:00 am: Companies scheduled to announce earnings for the quarter / year ended March 31, 2008 today are --- Bellary Steels & Alloys, D&H Welding Electrodes India, Graham Firth Steel Products India, Karur KCP Packkagings, Kdl Biotech, Kedia Vanaspati, Keynote Corporate Services, KIC Metaliks, SBEC Systems India, Shree Hari Chemicals Export, Upper Ganges Sugar & Industries.


The Bombay Stock Exchange's 30-share Sensex Friday opened at 14,153.39, down 90.34 points or 0.63 per cent from the previous day's close. The high in the few minutes of trade was 14,160.32, and low 14,136.86. National Stock Exchange's 50-stock Nifty was at 4283.85.

 
 
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