Stock Market Tips

Tata Steel announced restructuring plans, which will lead to the loss of about 900 jobs in the UK, including 580 in South Wales, 155 in Yorkshire, 120 in the West Midlands and 30 in Teesside. The company said that the job cuts are part of its restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets.

The company is proposing to make changes at a number of steel finishing and processing sites in the UK that would improve its product and service offering for customers. These changes would concentrate services at six distribution and processing hubs, which would benefit from 22 million pounds of new investment and new employment, but would also lead to the closure of 12 sites, including Tafarnaubach and Cross Keys in South Wales. In addition, shift levels at the company's Rotherham and Hartlepool operations will be reduced to match production to lower demand for bar products and pipelines.

However, Tata Steel also said it would go ahead with a 250 million pounds investment to rebuild a second blast furnace at Port Talbot, which is expected to be in production in early 2013. The additional capacity will see the company restart a hot-strip rolling mill at its Llanwern site in Newport, South Wales.

GlaxoSmithKline Consumer Healthcare's foreign parent has announced a voluntary open offer for acquisition of 1.33 crore shares, representing 31.84% of the total voting share capital from the public shareholders of the Indian firm, at Rs 3,900 per share. At present GlaxoSmithKline Group holds 1.81 crore shares, or 43.16% of the voting share capital of GlaxoSmithKline Consumer Healthcare (as on 30 September 2012).

Ranbaxy Laboratories, on 23 November 2012, issued 5,000 secured 9.20% redeemable non-convertible debentures of face value of Rs 10 lakh each, for cash at par, aggregating Rs 500 crore, on a private placement basis, for general corporate purposes. These debentures have been rated AA+ by CARE and are proposed to be listed on National Stock Exchange of India (NSE).

Gujarat NRE Coke has issued foreign currency convertible bond (FCCB) aggregating $20 million with an initial conversion price of Rs 22.50 per equity share, having a fixed rate of exchange of Rs 53.7350 to $1. The FCCBs are listed at Singapore Stock Exchange.

Hindustan Copper (HCL) will be watched after a total bid for 5.16 crore shares were received for government's stake sale in HCL through the Offer for Sale through Stock Exchange mechanism. The government has decided to accept the entire number of shares bid for at or above the floor price. Thus, approximately 5.58% of the total paid up share capital of HCL stands divested through this issue. The approximate gross receipts from the issue is Rs 800 crore.

The issue was held on 23 November 2012. A minimum of 4% of the paid up equity shares (3.7 crore shares) was offered for sale with an option to sell an additional 5.59% (5.17 crore shares) paid up equity shares of the company. The floor price was fixed by the Empowered Group of Ministers (EGoM) at Rs.155 per share.

The Cabinet Committee on Economic Affairs (CCEA), in its meeting held on 14 September 2012, had approved disinvestment of 9.59% paid up equity capital of HCL through the Offer for Sale through Stock Exchange mechanism.

Stock Market Tips

VIP Industries lost 5.11% to Rs 78 at 10:00 IST on BSE after the company reported net loss of Rs 1.8 crore in Q2 September 2012, compared with net profit of Rs 10.9 crore in Q2 September 2011.


The company announced the second quarter results after market hours on Wednesday, 31 October 2012.


Meanwhile, the BSE Sensex was down 11.65 points or 0.06% to 18,493.73.


On BSE, 2.37 lakh shares were traded in the counter as against average daily volume of 3.39 lakh shares over the past one quarter.


The stock hit a high of Rs 80 and a low of Rs 74.20 so far during the day. The stock had hit a 52-week low of Rs 68.55 on 27 July 2012. The stock had hit a 52-week high of Rs 175.25 on 1 November 2011.


The stock had underperformed the market over the past one month till 31 October 2012, declining 10.94% compared with the Sensex's 1.37% fall. The stock had, however, outperformed the market in past one quarter, surging 13.69% as against Sensex's 7.36% rise.


The small-cap luggage maker has equity capital of Rs 28.26 crore. Face value per share is Rs 2.


VIP Industries' total income from operations declined 6.78% to Rs 162 crore in Q2 September 2012 over Q2 September 2011.


VIP Industries is a leading manufacturer of hard and soft luggage.

Stock market Tips

Stock Market Tips :-

Index heavyweight Reliance Industries (RIL) dropped on weak Q2 results. Another index heavyweight and cigarette maker ITC edged lower in volatile trade. Car major Maruti Suzuki India rose after the car major today, 16 October 2012, unveiled its best seller Alto in an all new form -- Alto 800. Axis Bank rose after the private sector bank reported strong Q2 results after trading hours on Monday, 15 October 2012. Shree Cement declined on profit booking after posting strong Q1 results.

The stock market edged higher in early trade on firm Asian stocks. The stock market trimmed initial gains in morning trade. Key benchmark indices further pared gains in mid-morning trade as index heavyweight Reliance Industries (RIL) reversed intraday gains. The market regained strength in early afternoon trade. The market slipped into the red in mid-afternoon trade. The Sensex trimmed losses after hitting 3 -1/2-week low in late trade

As per provisional figures, the BSE Sensex was down 133.97 points or 0.72% to 18,579.58. The index jumped 87.55 points at the day's high of 18,801.10 in early trade, its highest level since 12 October 2012. The index fell 164.27 points at the day's low of 18,549.28 in late trade, its lowest level since 21 September 2012.

The S&P CNX Nifty was down 42.35 points or 0.74% to 5,644.90, as per provisional figures. The index hit a high of 5,714 in intraday trade, its highest level since 12 October 2012. The index hit a low of 5,635.60 in intraday trade, its lowest level since 5 September 2012.

The total turnover on BSE amounted to Rs 2931 crore, higher than Rs 1821 crore on Monday, 15 October 2012.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,725 shares declined and 1,161 shares rose. A total of 115 shares were unchanged.

From the 30-share Sensex pack, 23 stocks fell while the rest of them rose.

Stock market Index heavyweight Reliance Industries (RIL) lost 1.5% to Rs 810.45, which was also the day's low for the counter. RIL's net profit declined 5.7% to Rs 5376 crore on 15.4% growth in turnover to Rs 93265 crore in Q2 September 2012 over Q2 September 2011. RIL's gross refining margin (GRM) which is the differential between the cost of a barrel of crude oil and realization from sale of refined products produced from it declined to $9.5 a barrel in Q2 September 2012 from $10.1 a barrel in Q2 September 2011.

RIL's net profit jumped 20.2% to Rs 5376 crore on 1.7% decline in turnover to Rs 93265 crore in Q2 September 2012 over Q1 June 2012. The GRM surged to $9.5 a barrel in Q2 September 2012 from $7.6 a barrel in Q1 June 2012. RIL announced the second quarter results after trading hours on Monday, 15 October 2012.

Commenting on the second quarter results, Mukesh D. Ambani, Chairman and Managing Director, RIL said: RIL's business and financial performance for the first half of FY 2012-13 has been satisfactory despite weakness in global economies and the resultant margin environment. RIL's facilities continued to deliver operating excellence and this is a true testimony of the quality of our manufacturing assets and human talent. On a sequential quarter basis, net profit for the quarter was up 20% at $1 billion. Despite current weakness in global economies, we continue to invest in our long-term growth projects to deliver sustainable value to all our stakeholders.

RIL's outstanding debt as on 30 September 2012 was Rs 70059 crore, higher than Rs 68259 crore as on 31 March 2012. RIL had cash and cash equivalents of Rs 79159 crore. RIL said the company is debt free on a net basis as at 30 September 2012.

RIL's subsidiary, Infotel Broadband Services Limited (Infotel), which has emerged as a successful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) spectrum conducted by the Department of Telecommunications, Government of India is in the process of setting up a world class Broadband network using state-of-the-art technologies and finalizing the arrangement with leading global technology players, service providers, infrastructure providers, application developers, device manufacturers and others to help usher the 4G revolution into India, RIL said in a statement. Infotel plans to provide end-to-end solutions that address the complete digital value chain across various digital services in key domains of national interest such as education, healthcare, security, financial services, government-citizen interfaces, entertainment and working on building the requisite parts of this customers' experience which fundamentally change the lives of hundreds of millions of ordinary Indians, RIL said.

Index heavyweight and cigarette maker ITC fell 0.03% at Rs 286.05. The stock reversed direction after hitting a record high of Rs 288.45 in intraday trade today, 16 October 2012.