Stocks

News Update

Posted by : bhojas

Gremach in talks to sell stake in Mozambique arm
Amit Mitra
Mumbai, Oct. 1 Gremach Infrastructure, which has struck coal in Mozambique, is in advanced stage of talks with an Indian steel producer and three foreign mining and steel companies for 5 to 10 per cent equity sale in its Mozambique mining arm, Osho Gremach.
Osho Gremach, which owns 75 per cent stake in the Mozambique coal mines in Moatize region, plans to start coal production from the mines by April 2009.
Gremach expects to raise $50 million through equity dilution, which will be utilised to buy mining equipment and start production at the Mozambique facility.
Without naming the Indian steel maker that is in the race to pick up equity in the mining company, Mr Rishi Raj Agarwal, Vice-Chairman and Managing Director of Gremach, only said it was a “big steel maker in the private sector.”
Indian steel companies such as Tata Steel, Jindal Steel and the Mittals have been looking for buying coal and iron ore mines outside India to meet their raw material security needs. Tata Steel recently acquired 35 per cent stake in Australian firm Riversdale Mining coal project in Mozambique for about $ 85 million. India is estimated to be importing nearly 95 per cent of its coking coal requirement.
Earlier, Gremach was planning a bigger equity dilution to raise about $100 million, but as the Mozambique mine turned out to be an open cast one, it decided to whittle down the quantum of dilution. “We expect to complete the process of equity dilution in the next three months,” Mr Agarwal told Business Line.
Drilling operations
The company was granted 11 prospecting licences in Mozambique last year, covering over 13,500 hectares. Out of this, it undertook drilling operations in two licences, where they have stuck coking coal in depths of barely 1.5 mts. This region falls in Karoo basin that is recognised as a prime coal bearing area in Africa—the basin starts from South Africa and travels up to Kenya, covering parts of Mozambique, Zimbabwe, Swaziland, Malawi and Tanzania.
“Our licences are very close to the existing Companhia Vale Do Rio Doce mines, where hard prime coking coal has already been found. We estimate the two licences to hold a reserve of 200 million tonnes of coal. The international price of coal is at present ruling at about $300 a tonne,” Mr Agarwal said.
Companhia Vale, the world’s largest iron ore producer, is investing $2 billion in Mozambique that is expected to develop into the Southern Hemisphere’s biggest mine for the black gold.
After it starts coal mining operations, Gremach will be looking at both the Indian and global markets. “After the Mozambique strike, we will be looking out for both coal and iron ore mines in Africa, CIS countries and Latin America,” Mr Agarwal said.
The group already has a company in Guinea, which has a string of licences for iron ore blocks, bauxite, lead and uranium, measuring a total of about 8,000 sq km. Gremach clocked an income of Rs 235.62 crore and net profit of Rs 37.17 crore last fiscal.

source: BL

refex refrigerants

Posted by : Guest

Today purchase of 7 lakh share at 107.70 means somebody dares to pick this stock at that price. Hence seems lower circuit break is near, I think need to wait for more lower at approx 77 to 85.

Buy punjlloyd at 250....

Posted by : souravkundu

Dear marketman,
I picked it up at that valuation.. and will now lock it for a long long time...

regards,
Sourav

News Update

Posted by : bhojas

Gremach in talks to sell stake in Mozambique arm
Amit Mitra
Mumbai, Oct. 1 Gremach Infrastructure, which has struck coal in Mozambique, is in advanced stage of talks with an Indian steel producer and three foreign mining and steel companies for 5 to 10 per cent equity sale in its Mozambique mining arm, Osho Gremach.
Osho Gremach, which owns 75 per cent stake in the Mozambique coal mines in Moatize region, plans to start coal production from the mines by April 2009.
Gremach expects to raise $50 million through equity dilution, which will be utilised to buy mining equipment and start production at the Mozambique facility.
Without naming the Indian steel maker that is in the race to pick up equity in the mining company, Mr Rishi Raj Agarwal, Vice-Chairman and Managing Director of Gremach, only said it was a “big steel maker in the private sector.”
Indian steel companies such as Tata Steel, Jindal Steel and the Mittals have been looking for buying coal and iron ore mines outside India to meet their raw material security needs. Tata Steel recently acquired 35 per cent stake in Australian firm Riversdale Mining coal project in Mozambique for about $ 85 million. India is estimated to be importing nearly 95 per cent of its coking coal requirement.
Earlier, Gremach was planning a bigger equity dilution to raise about $100 million, but as the Mozambique mine turned out to be an open cast one, it decided to whittle down the quantum of dilution. “We expect to complete the process of equity dilution in the next three months,” Mr Agarwal told Business Line.
Drilling operations
The company was granted 11 prospecting licences in Mozambique last year, covering over 13,500 hectares. Out of this, it undertook drilling operations in two licences, where they have stuck coking coal in depths of barely 1.5 mts. This region falls in Karoo basin that is recognised as a prime coal bearing area in Africa—the basin starts from South Africa and travels up to Kenya, covering parts of Mozambique, Zimbabwe, Swaziland, Malawi and Tanzania.
“Our licences are very close to the existing Companhia Vale Do Rio Doce mines, where hard prime coking coal has already been found. We estimate the two licences to hold a reserve of 200 million tonnes of coal. The international price of coal is at present ruling at about $300 a tonne,” Mr Agarwal said.
Companhia Vale, the world’s largest iron ore producer, is investing $2 billion in Mozambique that is expected to develop into the Southern Hemisphere’s biggest mine for the black gold.
After it starts coal mining operations, Gremach will be looking at both the Indian and global markets. “After the Mozambique strike, we will be looking out for both coal and iron ore mines in Africa, CIS countries and Latin America,” Mr Agarwal said.
The group already has a company in Guinea, which has a string of licences for iron ore blocks, bauxite, lead and uranium, measuring a total of about 8,000 sq km. Gremach clocked an income of Rs 235.62 crore and net profit of Rs 37.17 crore last fiscal.

source: BL

Buy

Posted by : mukut

Royal orchid hotel paying Dividend Rs6/share and it is trading at 56.Both scrip has potential to cross 100 easily.

BSE Announcements on Cambridge Sol

Posted by : MMB Messenger

Citigroup Global Markets India Pvt Ltd (Manager to the Offer), on behalf of Xchanging (Mauritius) Ltd (the "Acquirer") along with Xchanging plc ("Xplc"), Person Acting in Concert ("PAC") with the Acquirer has issued this Public Announcement ("PA") to the shareholders of Cambridge Solutions Ltd ("Target Company"), pursuant to Regulations 10 and 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and

Takeovers) Regulations 1997, as amended from time to time (SEBI (SAST) Regulations).

The Offer:

This open offer is being made to the shareholders (shareholders) of Target Company, to acquire 2,25,90,415 fully paid up equity shares of the face value of Rs 10/- each of the Target Company (each a "Share") at a price of Rs 81.11 per share ("Offer Price") payable in cash.

Schedule of Activities:

Specified Date: October 17, 2008

Date of Opening of the Offer: November 27, 2008

Date of Closing of the Offer: December 16, 2008

Decoupling days are coming ahead.........

Posted by : lifaylon

Well markets are still in fear the PN-note and CRR-cut never will help in near term
first call will be done at Infosys results this friday from which markets will take a cue and that will be negative guidance for sure
Enter markets after this plays-out
by 20th-oct most cracks will play-out world over in all markets

Buy

Posted by : vkk43

Company has already said that there is no final dividend. There will not be any increase this year in view of right shares.

My learnings from truth...

Posted by : skasera

Some boarders want words of encouragement. I cannot motivate but I can definitely share my views on stock market investments. (solely personal views and every one should take his/her own informed decision).

1. Book profits/losses at defined intervals/limits. [This financial year, I have booked small profits on all trades so far and that is tidy sum. What I did not do was book losses and there is heavy pile of losses ~50% portfolio]. Nonetheless, wherever I could book profit, I am better off as those shares are significantly lower now.

2. Dont be greedy. In 2008 Jan when some smart ones were exiting, I did borrow small sums of money from my relatives to invest. Needless to say most of that is now 1/3rd its value. Thus, in new financial year, I have still invested 25% of my savings in stocks yet invested also in PPF, pre-paid my loans, have nearly 0 credit card dues, paid all obligations till march 2009 towards my family members etc. Thus, savings till march 2009 can be systematically put in equitites provided I wish to do so and only small part is now put in equities has suffered losses.

3. Herd is not necessarily right. In deep periods of skepticism is money to be made. Only problem is that you cannot time the bottom. So, small amounts systematically is ok. No problem sitting in cash either.

4. Quality and size pays. Better to stay with quality and size. Small amounts can be put in stocks like TD. But not vice versa where you have only one stock and that is TD.

5. Dont average. One good thing I have done this year is not average. Because let us say I buy 1K TD at 30 and then buy 1K TD at 18, then even at 23, I have a loss. So, I may not sell. Better to buy some other share at low levels and when market rallies, sell that share.

6. Keep your costs and liabilities low. Always consider worst case scenario and see what can happen during that time. For such times, keep some buffer and optimize your living costs and have minimum liabilities.

7. Last but not the least, every experience in life teaches us something (even at monetary costs). What we should aim is

Reliance 1650

Posted by : Boyplunger

Sirji, It had to stop. My target for Reliance was 1650. It is not a random number.

Buy

Posted by : mukut

190% is interim dividend. It has been paying interim and final dividend since last 10yrs. Dividend is increasing 30% everytime.

RS 40 cr forex loss

Posted by : psgs

i know. mark to mark losses actual are losses arising out of those forward contract which expire before the last day of the quarter. MTM provision will be made only on those open contracts which are existing/open on the last day of the quarter. thus, provision needs to be made using the closing currency rate on that day.

i feel biocon is headed towards 140-130 levels. its a good price for biocon as it is not delivering. management is very dull. how can any company sustain such high valuations.

they have sold thir enzymes business last year and now concentrating on bio-pharmaceuticals. they are spending this profit left & right in R&D. what is the use. these are all eye wash games. kiran`s ego and over-confidence. 50% of the R&D she is incurring is just waste and out of her own egoism. never trust this management.

even bonus issue was an eye wash. there was no enough reserves and future revenue and profit visibility till 2011 is very bad, but still bonus was given. but it did not help anyways. now at 320 (bonus adjusted rate) it has gone below its 52 week low price. i feel biocon is very week on charts and also fundamentally bad as the management is moving in the wrong path.

if there is no licensing income in q2 they will have to take severe hits on their forex forward contracts and also booked losses by now. its a very bad counter to be in now. may be if the management delivers something spectacular as they are expected to, then the stock would once again start flying. otherwise its better to be called as a forgotten biotech company of India. better to exit.

swamy.