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The government of Switzerland would be ready to reveal the names and bank account details of Indians who have stashed away billions of dollars of black money in Swiss banks once the Indian Parliament ratifies the revised Double Taxation Avoidance Agreement that was recently signed between the two countries. This was stated by Tarun Vijay, Bharatiya Janata Party national spokesperson and Member of Parliament, in a statement on Wednesday. He said that in 'the first-ever move to contact the Swiss government directly' to disclose have the names of Indians who have salted away unaccounted for money in Swiss banks, he met Christa Markwalder, president, Foreign Affairs Committee (Presidentin Aussenpolitische Kommission des National Rats) of the Swiss Parliament on October 5 in Zurich. The BJP national spokesperson said that Markwalder was happy to learn about the BJP's interest in this matter, and added, "We have already signed a protocol about it with the ...

Why the stock price has increased? Aarti Industries has soared 11.81% to Rs 71.00 after the company's board of directors approved to issue upto 2.4 million convertible warrants, on a preferential basis, to the promoter group company. “Each of the said warrants would be entitled the holder thereof to apply for and obtain allotment of one equity share of Rs 5 each thereof on a future date not exceeding 18 months from the date of allotment of warrants at an issue price of Rs 58 per share. The issue price for the warrants is fixed at 25% of the issue price of the resulting shares upon conversion," the company said in its filing to the stock exchanges. Open - 65.00 High - 73.40 Low - 65.00 Close - 71.00 Previous close (04 Oct 2010) - 63.50

Why the stock price has increased? Reliance MediaWorks has zoomed around 37% to Rs 292.95 after the company in its Annual General Meeting (AGM) announced that it will raise long term funds up to Rs 500 crore through Qualified Institutional Placement (QIP). "The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report. Open - 212.75 High - 299.40 Low - 212.75 Close - 292.95 Previous close (04 Oct 2010) - 213.90

Broking firm Enam Securities said unlike the general belief, history proves that public sector units (PSU) initial public offerings (IPOs) have always left something on the table for retail investors to cheer upon. It said, one should not miss the opportunity in investing PSU share offerings. ``Coal India is scheduled to open on Oct. 18, 2010. Don`t Miss the opportunity this time if you have missed till date,`` it said. Important points worth considering PSU offering is fancied by retail investors: ``Unlike the general belief, history proves that PSU IPO`s have always left something on the table for retail investors to cheer upon. On listing day; 94% of PSU offering have generated positive returns. On comparison with total issues; 63% of total issues have provided positive returns. Moreover, PSU offers generally provide special discount for retail investors (usually 5%); which is an added attractive proposition of PSU share offerings.`` Listing day gains are on anv...

India's largest gas producer Reliance Industries may be sitting on yet another gold mine - its block D4. RIL's partner Niko Resources , which owns 15 per cent in the block located on the east coast of India, has raised initial estimates of gas reserves in D4. RIL is the operator of the block with 85 per cent. Canada-based Niko Resources' chairman and CEO Edward S Sampson has told investors in a conference recently "We feel it's the twice the size of D6 and has prospectivity of up to an exceeding potential for 100 Tcf gas. It would change India and with 15% it would markedly change Niko" When contacted, Reliance Industries said "The appraisal process is presently being undertaken and we cannot offer any comment." But company sources tell ET NOW that the drilling in the block is expected to begin only by the last quarter of this financial year or early next financial year. The gas reserve of 100 Tcf at D4 is an initial estimate and how ...

Issue Opens on: Wednesday – October 06, 2010 Issue Closes on: Friday – October 08, 2010 Bid Lot: 20 Equity Shares Price Band: Rs.253 to Rs.260 No. of Shares: 39,562,000 shares Issue size: Rs 1,000.92-1,028.61 cr Oberoi Realty Ltd. (ORL) an esteemed brand and leading real estate developer primarily operates in Mumbai. Backed by suave brand and successful track record; ORL has successfully completed 33 projects and developed 5.02 mn sq. ft. of saleable area since its incorporation in 1983. ORL plans to complete 24 projects (20.3 mn sq. ft.) over the next 3-5 years. This is approx. 4 times of its completed work till date and will significantly contribute to company’s profitability and cash flows going forward. Considering ORL focuses on premium projects, margins are expected to remain high backed by strong pricing. Despite experiencing severe downturn over past 2 years, ORL’s Balance Sheet (BS) has remained stealthy. This can be gauged from the Zero debt Status and strong cash ...

Career Point was incorporated to impart quality education to students preparing for various competitive examinations. With the sky-high ideals and commitment to excellence, now Career Point has taken a shape of vibrant, dynamic and responsible institute of the country. The tradition of innovation and excellence continue with Career Point’s quality of education that it imparts to engineering & medical aspirants and its dedication & devotion towards their success in different competitive examinations. Today, Career Point stands apart and well above the rest on a distinguished platform, as an epitome of success. This could be achieved simply by virtue of the excellent teaching methodology that Career Point has evolved, developed and implemented over the years. Since beginning Career Point’s objective is to enable each aspirant to achieve success in different competitive examinations. In the pursuit of which, Career Point has to its credit a team of outstanding f...

Why the stock price has increased? Bhushan Steel touched lifetime high and closed up 16.79% at Rs 506.85 after the company placed an order worth of Rs 160 crore with Larsen and Toubro (L&T) subsidiary Metallurgical, Material Handling & Water Operating Company. The order is for the design, engineering, manufacture and supply of conveyor and auxiliary equipment for the raw material handling system at their ongoing 6 MTPA integrated steel plant at Meramandali, Orissa. The order has to be executed in 16 months. Open - 440.00 High - 511.80 Low - 440.00 Close - 506.85 Previous close (01 Oct 2010) - 434.00

Bharati Shipyard Ltd, a private sector shipbuilder, expects new orders worth around Rs 1,000 crore from defence and offshore sectors over next one year. "At the moment, we have sufficient orders for the next one-and-a-half to two years," Managing Director P C Kapoor said in an interview on Monday. The company's current order book size is around Rs 5,000 crore, of which the unexecuted portion stands at Rs 2,000 crore. Bharati Shipyard has planned a capex of around Rs 200 crore for FY12 to set up shipyards at Dabhol in Maharshtra and Mangalore in Karnataka. He also said Great Offshore, an offshore services company in which Bharati holds a 49.73 per cent stake, is looking to raise $150-$200 million in three-four months to expand and replace ageing fleet. Kapoor serves as executive director on the board of Great Offshore, in which Bharati had raised stake earlier this year after a six-month long battle with rival ABG Shipyard. Great Offshore could raise the funds ...

Pharma firm Strides Arcolab today said it has received two approvals from the US health regulator for its lidocaine hydrochloride injection, which is used for treatment of irregular heartbeat patients. The approval from the United States Food and Drug Administration (USFDA) is for its lidocaine hydrochloride injection USP in single-use vials in the strengths of 20mg/ml, 5mg/ml and 10mg/ml, Strides Arcolab said in a filing to the Bombay Stock Exchange. "The products will be launched in the near future. We have also filed applications for balance strengths, approval for which are awaited," it added. According to IMS data, the total US market for lidocaine injections in 2009 was worth approximately $61 million. "Half of this market will be covered by the two products for which approvals have been received," it said. This approval was the 50th Abbreviated New Drug Application (ANDA) for the company. Of the 50 approvals, 31 are for sterile products. Furthermore...

Because of this news Gives no reason for Gurumani’s termination, but says financial irregularities not an issue. Hyderabad-based SKS Microfinance on Monday sacked its Managing Director and CEO, Suresh Gurumani. A resolution terminating Gurumani’s services with immediate effect was passed by the company’s board on Monday and notified to the stock exchanges. Markets reacted sharply to the news. Shares of SKS plummeted 5.81 per cent over the previous close to end at Rs 1,276.50 on the BSE on Monday. The board replaced Gurumani with M R Rao, who was appointed deputy CEO barely a month ago. When asked why Gurumani had been fired, SKS Executive Vice-President (Corporate Communications) Atul Takle told Business Standard: “We are not commenting on that.” However, SKS Chief Financial Officer D Dilli Raj said the termination was “not an issue related to financial irregularities”. In the course of a conference call with investors on Monday, SKS founder Vikram Akula said, “The move is...

Tata Motors has bought an 80 per cent stake in Italy-based Trilix Srl, a design and engineering company for ¤1.85 million (Rs 11 crore). The remaining 20 per cent stake is equally held by the promoters of the target company, stated a release sent by Tata Motors to the Bombay Stock Exchange. “The acquisition is in line with the company's objective to enhance its styling/design capabilities to global standards,” the company added. Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility and detailed engineering development. The Turin-based company has had a relationship with Tata Motors, as it has worked on several projects. The company has a turnover of ¤4 million.

Alstom Projects India (APIL) has been awarded with a contract worth approximately Rs 550 million by Lanco Infratech to install a new hydro power plant in India northern region. The 75 MW Phatabyung Hydro Electric Project will be set up in the Uttarakhand region on the bank of Mandakini River. The order entails end-to-end manufacturing of equipment at Alstom Hydro`s Vadodara facility in Gujarat State, one of the company`s largest hydro equipment manufacturing hubs worldwide. Within the scope of this turnkey contract Alstom Hydro will supply 2 x 38 MW Francis turbines and generators as well as the main inlet valves and control and protection systems. Prancois Carpentier, managing director (MD) and vice chairman, APIL, said, ``We are proud to have been awarded this contract while strengthening our relations with Lanco Infratech . This additional order shows Alstom`s capabilities in hydro business in India thanks to our state-of-the-art local manufacturing facility in Gujarat.``

Commercial vehicles maker Ashok Leyland has reported 90.22% jump in commercial vehicle sales at 10,363 units in September against 5,448 units sold in the same month last year. The company said that domestic sales stood at 9,513 units last month against 4,809 units sold in the same month last year, up by 97.82%. Exports increased by 33.02% to 850 units from 639 units. The company also reported a 99.08% increase in total domestic sales of medium and heavy commercial vehicles at 9,474 units in September 2010 compared with 4,759 units in September 2009. Shares of Ashok Leyland gained Rs 2.1, or 2.8%, to settle at Rs 77.10. The total volume of shares traded was 1,672,110 at the BSE (Monday). Bajaj Auto sales grow 26% in Sep - Pune-based Bajaj Auto, India's second biggest bike maker, today posted a 26 per cent rise in total sales of its two and three wheelers selling 352,769 units during September as compared to the same month a year ago. Sales of motorcycle grew 26 per cent (i...

Wind turbine maker Suzlon Energy has not ruled out selling its stake in Hansen Transmissions just yet despite pressure on the company to reduce its debt, chairman Tulsi Tanti said at the weekend. Tanti said the world's third-largest wind turbine maker, behind Denmark's Vestas and Spain's Gamesa, is very comfortable with its current net debt level. The debt part of the problem is over," Tanti, who founded the company in 1995, told Reuters in an interview. Debt worries have weighed on Suzlon's stock price, and the company sold 35 per cent of Hansen for around $370 million last November, issued equity, increased operational efficiency and reduced its working capital to cut its net debt by 17 per cent to Rs 9,760 crore ($2.20 billion) by the end of May. "All these initiatives have given a good level to our debt. The comfort is there. Now we can say things are very comfortable," Tanti said. The company's leveraging has worried investors ever sinc...

Reliance MediaWorks has zoomed around 37% to Rs 292.95 after the company in its Annual General Meeting (AGM) announced that it will raise long term funds up to Rs 500 crore through Qualified Institutional Placement (QIP). "The media arm of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) prepares to launch a bouquet of three channels later this month with its joint venture partner, the US-based CBS Studios International, under the BIG-CBS banner. The company is also receiving expressions of interest from potential partners to float television (TV) channels together," according to newspaper report. The stock opened at Rs 213 and hit high of Rs 252 on the BSE. The counter has seen hectic activity with trading volumes zoomed more than twenty-folds. As many as 1.56 million shares changing hands on the counter so far as against an average 78,000 shares traded daily in past two-weeks.

Why the stock price has increased? Provogue has rallied 11.19% to Rs 74.55 on reports that the company is planning to enter the watches market by launching 20 models. Initially, the products will be launched in five major cities and gradually expand into other areas. “The company expects Rs 25-30 crore revenue by selling watches in the next 18 months. To be priced between Rs 5,000 and Rs 20,000, the watches will be showcased in Provogue stores. Currently, the company has 130 stores spread cross 60 cities. Meanwhile, the company expects a revenue growth of 35-40% in the September quarter," according to newspaper reports. Open - 67.70 High - 75.75 Low - 67.70 Close - 74.55 Previous close (01 Oct 2010) - 67.05

How we did it? For compiling the list of companies, we included companies with net sales below Rs 1,000 crore during FY10. With a view to exclude small companies with possibly dubious credentials, we eliminated from the list companies with a market capitalisation of less than Rs 50 crore. To make sure that the list was populated only with companies showing healthy financials, we added further criteria, such as return on capital employed (RoCE), debt-equity ratio (DER) and interest coverage ratio (ICR), cash flows from operations and dividends paid. India Inc’s Small Speedsters As a result, the final list comprised companies, which consistently maintained their RoCE over 15% during the past three years, DER below 1.5 in the past three years and an ICR above 5. Companies which had missing or skipped dividends more than once during the last three years or companies with more than one year of negative operating cashflows, too, were weeded out. This left us with nearly 140 companies w...

Zydus Wellness leads the ETIG’s 2010 list of 100 Fastest Growing Small Companies. It zoomed to the top from fourth position last year. The scrip has benefited immensely due to the merger of Cadila Healthcare’s consumer healthcare business and continues to remain debt-free and cash-rich. The recently listed Technofab Engineering occupies the second spot, thanks to its impressive profit growth over the last three years. But it is Hawkins Cookers, which stole the show in the top five. It made it to the top three after figuring down in the list at the 19th position last year. A superior profit growth in FY10 helped the company cruise past the likes of Man Infraconstruction, Vinati Organics and VST Tillers Tractors. Vinati Organics shot up from last year’s 14th rank to 8th this year and VST Tillers from 27th to 12th position. A few seem to have lost their ground compared to last year. Tata Sponge Iron, which stood tall at the third position in 2009 list, has slipped to 20th this year. S...

A robust financial performance goes a long way in winning investor confidence. To put it in perspective, 77 companies that featured in our 2009 list of 100 Fastest Growing Small Companies outperformed the benchmark indices in the year gone by. Moreover, the stock prices of 27 companies more than doubled during the period. A portfolio, which includes the top 10 companies from the list, would have enriched an investor by 59%, as against a market gain of 21%. A portfolio of top 25 companies would have earned 61%. And a portfolio with equal weightage of all these 100 companies would be valued higher today by 73%. Indeed an impressive feat.