3.13 crore shares were traded in Nagarjuna Fertilizers & Chemicals (NFCL) counter on BSE today. The scrip topped volumes on BSE. The share price declined 7.86% to Rs 34.60.
Net profit of Nagarjuna Fertilizers & Chemicals declined 7.02% to Rs 7.15 crore on 2.18% rise in sales to Rs 300.30 crore in sales in Q1 June 2007 over Q1 June 2006. The results were announced on 27 July 2007.
SEL Manufacturing Company clocked the second highest volume of 2.69 crore on BSE on its debut. The stock ended at Rs 142.80 on BSE, a premium of 58.67% over the IPO price of Rs 90.
The company had fixed the issue price at top end of the Rs 80 - Rs 90 price band. SEL Manufacturing Company's IPO had ended on 31 July 2007 with 3.62 times subscription.
The company aims to expand its capacities in spinning, knitting and garment manufacturing at a total cost of Rs 184.5 crore. The debt of Rs 103.7 crore is fully tied up under technology upgradation fund scheme.
SEL Manufacturing had reported a net profit of Rs 23.60 crore on sales of Rs 187.47 crore in the year ended March 2007.
Central Bank of India clocked the third highest volume of 2.43 crore shares on BSE on its debut. The stock settled at Rs 115.40 on BSE, a premium of 13.13% over the IPO price of Rs 102.
Central Bank of India had priced its initial public offer (IPO) at Rs 102, at the top end of the Rs 85 to Rs 102 price band. Central Bank of India (CBI) IPO had ended on 27 July 2007 with 62.07 times subscription.
CBI reported net profit of Rs 498.01 crore on net total income of Rs 2950.07 crore in the year ended 31 March 2007 (FY 2007). Profit for FY 2007 includes recovery/write back of provisions of Rs 163.33 crore. However, a repeat of such recovery every year seems difficult.
Ventura Textiles clocked the fourth highest volume of 2.03 crore on BSE. The share price declined 1.5% to Rs 2.63.
Ventura Textiles reported a net loss of Rs 1.84 crore in Q1 June 2007 as against net profit of Rs 5.60 crore in Q1 June 2006. Sales declined 47.24% to Rs 7.74 crore in Q1 June 2007 over Q1 June 2006. The results were announced on 30 July 2007.
Ventura Textiles announced on 30 July 2007 that pursuant to the BIFR order dated 22 June 2007, the board had approved to write-off 75% of equity share capital & reserves & surplus against accumulated losses of the company. The board also decided to consolidate shares to face value of Rs 10 each from current face value of rupee one.
Bellary Steels & Alloys clocked the fifth highest volume of 1.98 crore shares on BSE. The share price declined 5% to Rs 6.31.
Bellary Steels & Alloys reported net loss of Rs 28.04 crore in Q4 March 2007 as against net loss of Rs 23.21 crore in Q4 March 2006. Sales rose 31.39% to Rs 9.46 crore in Q4 March 2007 over Q4 March 2006.
On 28 June 2007, the company said the corporate debt restructuring proposal submitted in June 2007 is under the active consideration of the Industrial Development Bank of India, the lead financial institution for the company. The proposal is expected to be completed and in place within the next three months. After the restructuring of debts availability of captive ore and commissioning of the power plant, the bottom line and the cash flow would improve tremendously.
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