La Opala RG upbeat on declaring record-date for bonus shares

La Opala RG spurted 5%, to Rs 101.75 on fixing 26 September 2006 as record date for issuing bonus shares.

A total of 16,668 shares were traded on the BSE. There was a pending buy order for 645 shares at the maximum price.

The stock, after rising smartly from a low of Rs 86.05 on 19 July to Rs 102.95 on 2 August, slipped to Rs 96.95 by 6 September 2006.

At the current market price of Rs 101.75, La Opala RG trades at 20.43 times its Q1 June 2006 annualized EPS of Rs 4.98.

As per reports in June, La Opala RG firmed up plans for an opal glass tableware manufacturing facility in Uttaranchal at an estimated investment of Rs 35 crore. The plant will have a production capacity of 4,000 tonnes per annum. The funds are to be raised through internal accruals and enhancement in the company's equity. It could be a public offer, or private placement, or even a bond issue. The company at present has an equity base of Rs 5.30 crore.

La Opala RG's facility is located in Jharkhand. It has a capacity to manufacture 3,500 tonnes per annum of opal glass tableware and 1,600 tonnes per annum of crystal.

While the opal glass tableware is retailed through franchises under the La Opala brand, handcrafted crystalware manufactured by the company are sold through select exclusive outlets under the Solitaire brand. The company plans to open 10 exclusive outlets during this fiscal to augment its retail presence.

La Opala RG has registered a net profit growth of 40.4%, to Rs 66 lakh for Q1 June 2006 compared to Rs 47 lakh in Q1 June 2005. Net sales during the period increased to Rs 10.52 crore from Rs 7.72 crore.

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Actual consolidated EPS for March 2005  : Rs 7.7
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Hindustan Zinc dazzles on spiking product prices

Hindustan Zinc rose 3.61%, to Rs 647.10 on increasing zinc and lead prices by 6.39% and 4.23% respectively.

As many as 6 lakh shares were traded on the BSE.

The counter has seen immense volatility in the last few months. From a low of Rs 449.05 on 8 June, it rose amid bouts of volatility to Rs 614.20 by 13 July, only to slip to Rs 511.55 by 1 August. Here, the stock advanced slowly to Rs 624.55 on 6 September 2006.

At the current market price of Rs 647.10, Hindustan Zinc trades at 7.83 times its Q1 June 2006 annualized EPS of Rs 82.60.

Hindustan Zinc has increased zinc prices by Rs 11,600 a tonne, or 6.39%, to Rs 1,93,200 a tonne. It has also increased lead prices by Rs 2,800, or 4.23%, to Rs 69,000 a tonne.

The company has been frequently changing domestic zinc prices on cue from a trend on the London Metal Exchange (LME). The company revised prices six times last month. In late July, it had cut zinc prices by about 5% across all categories.

Recently, Hindustan Zinc joined hands with MSP Steel & Power to take up captive coal mining in Chhattisgarh. While MSP Steel will pick up a 20% share of production from the coal mine for the next 30 years, Hindustan Zinc will pick up the largest share of output in the jiont venture.

Hindustan Zinc was a company of the Government of India until dis-investment. In March 2002, Sterlite Industries (India) acquired 26% stake in the company for Rs 445 crores.

Hindustan Zinc (HZL) has an advantage in terms of captive sources of ore. HZL is the country's only integrated producer of zinc and among the world's leading integrated producers with a domestic market share of approximately 70%.

Its zinc capacity is currently 4 lakh tonne per annum with smelter operations situated in Chanderiya, Debari and Visakhapatnam.

Hindustan Zinc registered a net profit growth of 503%, to Rs 874 crore (Rs 145 crore) for Q1 June 2006. Net profit rose 206%, to Rs 1,610 crore (Rs 527 crore).

Sensex fights back after over 100-point fall

The market opened weak but bounced back after having plunged over 100 points at the onset of trading. Weak global markets due to a fear of rise in US interest rates weighed on the domestic bourses.

A large block deal was executed in entertainment firm PVR. At 10:19 IST the Sensex was down 49 points, on 11,884. It had recovered from a lower level after it dipping over 100 points, to a low of 11,828.32.

Robust data on US labour costs and services sector growth sparked concerns the Federal Reserve may resume its rate increases, pulling Asian markets down on Thursday. Key Asian markets in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.01 - 1.59%.

The market-breadth was weak. For 716 shares that declined on BSE, just 673 rose. As many as 47 shares were unchanged. Losers outpaced gainers by a ratio of 1.06:1.

The BSE clocked a turnover of Rs 499 crore.

Refiners inched ahead as US crude oil fell to a 3-1/2 month low. HPCL gained 0.9% to Rs 309, BPCL gained 0.4% to Rs 388.50. However, Indian Oil Corporation shed 1.1% to Rs 518. Nymex crude was hovering at $67.60 a barrel.

IT stocks edged lower due to a sharp fall in US tech stocks on Wednesday. Satyam Computer shed 0.9% to Rs 806, Wipro shed 0.8% to Rs 518 and Infosys shed 0.5% to Rs 1,823. The Nasdaq Composite Index plunged 37.86 points, or 1.72%, at 2,167.84 on Wednesday.

Bank shares slipped on worries about a possible rise in US interest rates. HDFC Bank lost 1.5% to Rs 849, ICICI Bank shed 0.6% to Rs 606 and State Bank of India shed 0.5% to Rs 943.50.

Index heavyweight Reliance Industries dropped 0.7%, to Rs 1,129.

PVR rose 2.5% to Rs 249 on the back of large block deals. Three block deals of 6.6 lakh shares each, were recorded in PVR, on BSE, in opening trade at prices ranging from Rs 247 to Rs 253.

Hindustan Zinc rose 2.6% to Rs 641 on reports that it has raised zinc prices by a steep Rs 11,600 per tonne (6.4%). It also raised lead prices by Rs 2,800 a tonne.