Yes Bank - Way To Go

Yes Bank net jumps 102%

Yes Bank posted a 102% growth in profit after tax for the quarter ended March 31, 2007, to Rs 30.9 crore, as compared to a profit of Rs 15.3 crore reported in the corresponding for the previous fiscal.

The bank reported a year-on-year profit of Rs 94.4 crore, up 71% from last year’s Rs 55.3 crore. The growth was led by a 205% year-on-year growth in interest earned by the bank, which rose to Rs 587.6 crore, as against Rs 192.8 crore reported last year.

The bank’s operating profit for the quarter ended March 31, 2007 stood at Rs 59.8 crore, a 78% rise from the corresponding quarter in the previous fiscal.

Operating profit showed a 74% yearly growth to Rs 172.4 crore. Total advances were reported at Rs 6,290 crore, a 161% growth from last fiscal’s Rs 2,407 crore and total deposits grew 182% to Rs 8,220 crore from Rs 2,910 crore.

The bank reported a 177% growth in total income for Q4-FY07 to Rs 281.1 crore, as compared to Rs 101.3 crore for the corresponding period of the previous year. Total yearly income for the past fiscal also rose 170% to Rs 782.2 crore. Capital adequacy ratio for the bank stood at 13.6% on March 31, 2007.

Source : The Economic Times

CBOP - Deutsche Bank

Deutsche Bank has come out with a very positive report on Centurion Bank Of Punjab with a price target of Rs. 48.00. The report is a must read for all CBOP investors.

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Biocon - Solid Research Solid Revenue

Biocon Q4 Net Increases 26%

Bangalore-based biotech major, Biocon reported better-than-expected results for the fourth quarter of 2006-07. The net profit for the quarter was up 26 per cent at Rs 61 crore and the turnover was up 30 per cent at Rs 279 crore compared with the corresponding quarter of the previous year.

The company has attributed its performance to a focus on operational efficiencies, entry into branded formulations and aggressively defending its market position. The severe price competition in statins, which had affected the company’s performance during the earlier part of the year, also eased in the latter half.

The company’s revenues from biopharmaceuticals grew by 29 per cent to touch Rs 204 crore and the enzymes business was up 9 per cent at Rs 27 crore. The research services (delivered by subsidiary Syngene) and licensing delivered an exceptional performance, growing by 54 per cent to touch Rs 47 crore compared with the corresponding quarter. The EBITDA of the company for Q4 was up 26 per cent at Rs 61 crore, compared with Rs 48 crore clocked in Q4 FY06. The EPS was up at Rs 6.1 during Q4 FY07 as against Rs 4.8 registered in Q4 FY06.

In FY07, Biocon’s net profit was up 15 per cent at Rs 200 crore and revenues rose 25 per cent at Rs 986 crore. According to Biocon COO Dr Arun Chandavarkar, the company benefited from the tax concessions on SEZs, paying less tax at Rs 17 crore in FY07 compared with Rs 31 crore in FY06.

Source : Business Standard

Genus Overseas - Is Now Genus Power Infrastructures

Genus Reports 57% Increase In PAT

Genus Power Infrastructures Ltd(formerly Genus Overseas Ltd) has reported 57% increase in profit after tax for the quarter ending March to Rs 12.6 crore compared to Rs 8 crore in the corresponding period last year. Backed with a robust demand for power equipment makers, net sales for the electronic meter manufacturer rose 35.4% to touch Rs 152 crore during the quarter. For the full financial year, the company reported 84.3% increase in net profit to Rs 28.2 crore as against Rs 15.3 crore last year. Net sales posted a growth of 72% during the year and stood at Rs 365.16 crore.

The demand for meters is soaring on the back of the government's aim of providing power for all by 2012 as well as the focus on 100% metering and replacement of old mechanical meters with electronic energy meters (EEMs). Genus Overseas Electronics is a leading manufacturer of tamper-proof EEMs and to cater to the growing demand for EEMs, the company has expanded its manufacturing capacity by setting up a new plant for EEMs in the tax-free zone at Uttranchal.

The order book of the company stood at Rs403 crore (including export orders worth Rs15 crore) at the end of March 2007. The order flow is expected to remain robust as the government's mission of "Power to all by 2012" with the focus on 100% meeting and replacement of old mechanical meters with electronic energy meters fueling the growth. To cater to the growing need of electronic energy meters, the company has set up a new manufacturing plant in the tax-free zone at Uttranachal. The commercial production from the plant has started and is expected to contribute around Rs150 crore to the top line of the company on a full year basis.

To capture the huge growth opportunities in the overseas markets and also as a de-risking strategy, the company has entered into a 50:50 joint venture with Mobix Wireless Solutions Ltd, a leading Brazilian company in communications technology. The land for the plant has already been acquired and the orders for equipments have been placed.

Simplex Infra - Bags Order

Simplex Infra Bags Rs 708cr Worth Of Cumulative Orders

Simplex Infrastructures Ltd., one of India’s leading infrastructure solutions providers, today announced bagging cumulative orders worth Rs. 708.4 crores towards civil and structural work for cement plant, hotels, ports, approach jetty, flyovers and bridges spread across the country and also in the middle east.

Commenting on this, Mr. Amitabh Das Mundhra, Director, Simplex Infrastructures Ltd. said, “We have begun the year on a healthy & positive note and we have been able to bag Rs.708 Cr. worth of cumulative projects between Jan- March-2007. We being awarded projects across the infrastructure verticals speaks about our project management and executional capabilities.”

The order book exceeds Rs. 6000 Crore. The notable projects bagged include reconstruction of Mattancherry Wharf at Cochin Port Trust, main berth and construction of approach jetty at Dahej in the marine sector. Also, the projects bagged from Dalmia Cement, Grasim Industries, and Bina Refinery are for the civil and structural work.

Source : Moneycontrol.com

Subhash Projects - Bags Orders Worth Rs. 309 Cr.

Subhash Projects - Award Of Orders For Rs 309 Crores

Subhash Projects & Marketing Ltd has informed BSE that the Company has bagged orders cumulatively worth Rs 309 Crores for execution of power projects. These include projects worth Rs 220 Crores to be executed for Karnataka Power Transmission Corporation Ltd and Hubli Electricity Supply Co. Ltd. in Karnataka and Rs 89 Crores for Power Grid Corporation of India Ltd. (PGCIL) in Bihar on turnkey basis.

The scope of work in Karnataka includes upgradation of existing sub-stations, construction of 220/110/66 KV sub-stations and transmission lines. The order for PGCIL in Bihar involves construction of new underground cabling as well as revamp of existing limes under the APDRP Phase – II. The completion period for the above projects will be 6-18 months.

The Company has entered the power business in 2001 and is one of the foremost players to participate in the rural electrification drive. On April 09, 2007, the Company's power business contributes to around 50% of total order book, currently at Rs 2900 Crores.

Source : Bombay Stock Exchange

Micro Tech - Electrifying Products

Micro Technologies Introduces Electric Black Box To Check Power Consumption

Micro Technologies India Ltd has announced that the Company introduces revolutionary Micro EBB - Electric black Box to bring relief to the Electricity usage and monitoring. The distribution and use of Electricity has assumed great importance in Indian economy. With problems in the high cost and time involved in increasing the generation of electricity optimization of the use of the Electricity is the only way to come out of this problem. There is an essential requirement of the regulation and monitoring of energy consumption and needs to know periodically the electricity consumption so as to monitor and analyze the consumption issues and billing concerns.

The Company has come up with a unique solution of a Dual monitoring system known as the Micro Electric Black Box, which apart from keeping a track On the energy consumption also monitors the security aspect of the Energy Distributors by preparedness planning and early mitigation.

The Micro EBB - Electric Black Box system records the unit consumption of electricity for each of individual digital meters installed and sends periodic messages to the Power Distribution Company. This helps the power distribution Company to keep a live record on the total energy consumption for each of their clients and misuse. The clients through web can view and keep a track of the energy consumption. This system gives instant message on the mobile / email of the authorized person upon slightest detection of smoke, temperature rising, power failure and even remotely control the electronic machinery through mobile phone. Thus preventing the major losses, which may occur due to anomalies. Micro Electric Black Box can be effectively control access to sensitive areas in Power Supply Plants and Energy Distribution systems. It gives instant message on the mobile email to the authorized person about any unauthorized access and also captures screen shots with a web camera and mails the pictures via email to the respective personnel.

The Company is a leading provider of security and life-support solutions to the global audience. The Company’s products are globally recognized through its innovation, perfection and quality. Its range of Security products include Home Security Micro HSS, Vehicle Security Micro VBB; Unmanned location Security Micro IBB Intelligent Black Box etc would have good acceptability in the Global market.

The Company has already launched various consumer utility products keeping the security perspective as the prime concern. This unique product is an advanced security and consumption solution for both energy consumers and energy distributors would be soon launched based on the positive feedback required from the users and is expected to give good commercial return to the Company.

Source : Bombay Stock Exchange

SREI Infra - To Set Up 5000 Common Service Centres

SREI Infrastructure Finance Ltd has informed BSE that in a unique move to bridge the digital divide between the rural and urban areas and in the process ensuring prompt delivery of government and other services, the West Bengal government has entered into a Master Service Agreement with the Company, the leading private sector infrastructure equipment, infrastructure projects and renewable energy products financing Company to set up nearly 5,000 common service centres (CSCs) in rural Bengal. The program has been drawn up under the aegis of the increasingly popular public-private partnership (PPP) mode.

The agreement signed between the Company and the Government of West Bengal, Panchayat and Rural Development Department on April 05, 2007, encompasses 14 districts of Darjeeling, Jalpaiguri, Cooch Behar, Uttar Dinajpur and Dakhin Dinajpur, Malda, Murshidabad, Nadia and South 24 Parganas, Purba Midnapore, Bankura, Birbhum, Howrah and Hooghly in Public Private Partnership (PPP) Mode. The agreement was signed by Shri. M N Roy - Hon'ble Principal Secretary, Panchayat & Rural Development Department, Govt of West Bengal and Dr. Sabahat Azim - Vice-President, Strategic Initiatives, of the Company. Mr. Hemant Kanoria, Vice Chairman & Managing Director, of the Company was also present on the occasion.

The initiative envisages setting up one CSC for each cluster of six villages with one being set up within each Gram Panchayat and Panchayat Samiti office premises. To start with, 4,937 such CSCs to be known as ‘Sahaj Tathya Mitra’ will be set up with Internet connectivity and will offer e-Governance Services and other commercial services to the rural populace.

The Company will manage these CSCs in collaboration with Wipro Infotech Ltd. While Wipro will be responsible for the technological inputs, the Company will chalk out the various services these CSCs will provide to the rural masses.

Under this program, a number of village level entrepreneurs (VLEs) preferably from women self-help groups (SHGs) will get direct livelihood while rest of the population will get access to e-Governance and Internet related services at its doorstep at a very nominal rate. The program is aimed at improving the standard of living in rural Bengal.

The feather in the cap undoubtedly goes to West Bengal, which has become the first state off the bloc in signing this Master Agreement, which is a part of the National e-Governance Plan. These CSCs will become operational in less than twelve months.

These CSCs have the potential of developing as revenue neutral tools in the hands of other Companies and service providers keen to access rural markets. The IT-enabled e-kiosks will also be developed to provide information and services for meeting rural needs in relation to agriculture, education, vocational training, health and hygiene.

Incidentally, the Company bid for all eight zones in the State comprising 18 districts for a total of 6797 CSCs and bagged six of those against stiff competition from Companies like Reliance Communication, 3i-Infotech and Wire & Wireless India Ltd.

Source : Bombay Stock Exchange

Patel Engg - Gammon India JV Bags Rs 806Cr Order

Patel Engineering’s Order Book Stands At Around Rs 4800 Cr

Patel Engineering Ltd., a civil infrastructure construction company, today announced that the company has bagged order a Rs 806 crore order in joint venture with Gammon India Ltd from the Satluj Jal Vidyut Nigam Ltd for the 434 MW Rampur Hydro Electric Project. Satluj Jal Vidyut Nigam Ltd. Is a joint venture between the Government of India and Government of Himachal Pradesh.

The project is located on the river Satluj in Shimla and Kullu Districts of Himachal Pradesh. The project work involves construction of a 15-km-long head race tunnel (HRT), a 140-m deep surge shaft and power house on the right bank of river Satluj near Village Bael in district Kullu. The project will be completed in the next 54 months.

Commenting on the development, Sonal Patel, Whole Time Director, Patel Engineering said, “The hydro power sector is witnessing significant traction as the hydro power capacity addition during Tenth Five Plan (FY03-FY07) is expected at 8,762MW. Further, Ministry of Power has set a target of capacity addition of 20,000MW during the Eleventh Plan (FY08-12).”

“Given the fact that a large number of hydro power projects are being awarded and with construction component accounting for 70 per cent of the cost of a hydro power project, we believe that this segment offers good growth potential,” Sonal Patel added. Interestingly, Patel Engineering has participated in 22 per cent of India’s 32,000 MW hydroelectric projects.

Patel Engineering’s order book position stands at around Rs 4800 crore, which includes Michigan Engineers order book of Rs 50 crore in urban infrastructure. Of this Rs 4800 crore, 50% of the orders are from hydro division, 28% irrigation and 22% in transportation and other sectors.

Source : Moneycontrol.com

Aftek - Gets CE Certification For VoIP-GSM Gateway

Aftek's Future Versions To Support Google Talk

Aftek Ltd has announced that "VoIP-GSM Gateway" - a product developed in-house by the Company, for a European customer, has won the much coveted CE Certification. The CE conformity has become a mandatory requirement for the electronic devices to be sold in Europe. CE conformance guarantees the safety, electromagnetic interference limits and electromagnetic compatibility of the electronic products. The certification boosts the saleability of this device in the European segment.

The product was given the conformance certification by Underwriters Laboratories India Pvt Ltd., Bangalore an affiliate of Underwriters Laboratories Inc. which is a widely accepted and recognized across the European market.

VoIP-GSM Gateway is a hi-tech device that allows IP telephony operators to deliver their services directly to the existing GSM cell phones. It acts as a VoIP to GSM and GSM to VoIP gateway device. It allows an ordinary GSM mobile phone to make and receive VoIP calls to / from your Skype ID.

This is a USB powered plug and play device and does not require any charger or an adapter. No additional software needs to be installed on the mobile phone. Hence it can connect to any GSM handset with no constraints about the OS or Java support. This has made VoIP-GSM Gateway a universal device connecting with the simplest to the most hi-tech handsets. Currently it is Skype compatible and future versions will also support Google Talk.

GSM technology used by VoIP-OSM Gateway gives mobility to the users. With VoIP GSM Gateway, users do not have out-of-range issues like normal WiFi phones, thus giving them maximum connectivity. It enables significant cost savings as the GSM calls are transferred to Skype.

Source : Bombay Stock Exchange