Nagarjuna Fertilisers and Chemicals, Reliance Natural Resources, Mangalore Chemicals & Fertilizers and Silverline Technologies follow.
2.08 crore shares were traded in IFCI counter on BSE today. The scrip topped volumes on BSE. The share price rose 1.3% to Rs 66.05.
The derivative contracts in the underlying IFCI have crossed 95% of the market-wide position limit and the stock is currently in the ban period on NSE.
Reserve Bank of India said on Tuesday 7 August 2007 that foreign funds can no longer invest in state-run IFCI without the bank's permission, as these investments had reached the 22% limit.
IFCI announced on 6 August 2007 that the board of directors of the company at its meeting held on 4 August 2007, has approved inviting of expression of interest from strategic investors. The stock has surged since the beginning of this month on the back of reports that Citigroup, Lehman Brothers, BNP Paribas, Deutsche Bank and Barclays are interested in buying 26% in the financial services firm.
The state-run lender is seeking a strong partner, be it an Indian entity or from overseas, which can add value to the company.
Nagarjuna Fertilisers and Chemicals clocked the second highest volume of 1.182 crore shares on BSE. The share price rose 3.44% to Rs 27.05.
Net profit of Nagarjuna Fertilizers & Chemicals declined 7.02% to Rs 7.15 crore on rise of 2.18% to Rs 300.30 crore in sales in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.
Reliance Natural Resources (RNRL) clocked the third highest volume of 1.18 crore shares on BSE. The share price rose 2.7% to Rs 47.55.
The Bombay High Court's final verdict on the allocation of gas from Reliance Industries' (RIL) Krishna-Godavari block which was adjourned till 18 July 2007 was adjourned again by eight weeks. The court, however, said the government can go ahead with the process of fixing of gas price as per the contract for the field, without any prejudice to either party.
Reliance Industries (RIL) had challenged Justice A M Khanvilkar's interim order restraining it from selling 40 million standard cubic metres of gas per day to be produced in Krishna Godavari gas field, which RNRL says has been committed to it for its power plants.
The Bombay High Court said on 21 June 2007 that RIL cannot sell the gas to be produced from one of its prime blocks in the Krishna-Godavari basin to any third party other than Anil Ambani's RNRL and NTPC. In an interim order on a petition filed by RNRL, the high court said that the 81.6 million standard cubic metres per day (mscmd) of gas is to be earmarked for RNRL, NTPC or for RIL's captive use for the next eight years.
On 4 May 2007, an interim order was passed by Justice A M Khanwilkar, preventing RIL from selling off the quantity of gas from its Andhra offshore field committed to younger brother Anil Ambani's entities including RNRL as part of 2005 demerger pact between the two brothers Mukesh and Anil.
Mangalore Chemicals & Fertilizers clocked the fourth highest volume of 50.59 lakh shares on BSE. The share price rose 12.12% to Rs 32.85.
Net profit of Mangalore Chemicals & Fertilizers rose 100% to Rs 7.02 crore on rise of 16.58% to Rs 333.21 crore in sales in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.
Silverline Technologies clocked the fifth highest volume of 1 crore on BSE. The share price rose 4.42% to Rs 15.37.
Net profit of Silverline Technologies rose 1647.15% to Rs 21.49 on 317.52% rise in sales to Rs 24.55 crore in Q4 June 2007 over Q4 June 2006. The net profit declined 3.67% to Rs 31.51 crore on 2749.41% rise in sales to Rs 72.66 crore in FY 2007 over FY 2006. The results were announced on 20 July 2007.
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