Balaji Amines advances as board okays bonus issue

Balaji Amines advanced 3.31% to Rs 383.55, after its board approved a liberal 1:1 bonus issue on 23 October 2006. As many as 65,587 shares were traded on the BSE.

The stock witnessed a solid surge in the past few sessions, after the company proposed to issue bonus shares. From Rs 298.25 on 12 October 2006, it surged to Rs 371.25, by 23 October 2006, on expectation of a liberal bonus issue.

Balaji Amines reported a net profit surge in Q2 September 2006 to Rs 5.18 crore, compared to Rs 28 lakh in Q2 September 2005. Net sales stood at Rs 51.5 crore (Rs 37.4 crore).

Balaji Amines is one of the leading manufacturers of methyl and ethyl amines. Over the last few years, the company has gradually broadened its product profile and markets around 10 derivatives and one natural product.

Dolphin Offshore Enterprises India Bonus Issue - Meeting on October 31st 2006

Offshore drilling services firm Dolphin Offshore Enterprises India said on Monday (23 October) its board would meet on October 31 to consider a bonus share issue.

RIL may edge lower due to concerns over fall in output at Jamnagar refinery

RIL may edge lower due to concerns over fall in output at Jamnagar refinery

Reliance Industries (RIL) shut a large desulphurising unit at its 6,60,000 barrel per day refinery at Jamnagar after a fire on Wednesday, but said the rest of the plant was largely unaffected. Reliance said the fire, which started at 10:40 IST was brought under control within two hours and that the damage was minimal at the 1,00,000 bpd vacuum gas oil (VGO) hydrotreater, which removes sulphur from heavy feedstock.

ICICI Bank reported a 30% growth in net profit for Q2 September 2006 to Rs 755.01 crore (Rs 580.05 crore). The net interest income rose 47.38% to Rs 1577 crore from Rs 1070 crore. Fee based income jumped 62% to Rs 1138 crore (Rs 704 crore).

Hero Honda reported a 9.2% fall in net profit for Q2 September 2006 to Rs 215.97 core. Net sales rose 2.9% to Rs 2229.96 crore. The core operating profit margin (OPM) declined sharply to 12.71% from 15.3% in Q2 September 2005.

TVS Motor reported 22% fall in net profit for Q2 September 2006 to Rs 24.83 crore. Net sales jumped 36.5% to Rs 1077.89 crore. OPM declined to 5.19% from 5.81% in Q2 September 2005.

Hinduja TMT said on Thursday it has acquired AFFINA – an outsourcing firm in the United States. AFFINA has revenues of about $60 million and about 65 customers in consumer electronics, FMCG, retail and telecom verticals.

Offshore drilling services firm Dolphin Offshore Enterprises India said on Monday (23 October) its board would meet on October 31 to consider a bonus share issue.