X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Top stories this week… - Views on News from Equitymaster
 
 
  • PRINT
  • E-MAIL
  • FEEDBACK
  • A  A  A
  • Jan 20, 2001

    Top stories this week…

    MTNL in cellular…
    Mahanagar Telephone Nigam Limited (MTNL) has finalised the tariff structure for its cellular services for Delhi. The company has decided to charge Rs 2.70 per minute for outgoing calls and Rs 1.50 per minute for incoming calls (1 US$ = Rs 46.5). The monthly rental charges are fixed at Rs 400 (US$ 8.6). It has plans to commence its services from January 31, 2001 in Delhi and by February 2001 in Mumbai. Following this, private cellular companies have also plans to slash rates to counter competition from the state owned telecom major.

    Telco woes…
    Tata Engineering has reported a 40 percent slide in commercial vehicles sales volume in December 2000. Domestic sales were down by 43 percent to 11,493 units as heavy commercial vehicles sales dropped by more than 50 percent. The slowing down economy coupled with stiff competition seems to be eating into the profits of the company. Meanwhile, the company has planned to tap the primary market through a rights issue to fund its expansion projects.

    Mastek – The first warning…
    Mastek, the Mumbai based software company, reported a sharp 54 percent drop in net profit for the third quarter ended 31st December 2000. The net profit has dropped to 28 million from Rs 61 million in the corresponding quarter of the previous year. This could be attributed to the slow down in revenues from its US operations as well as default by a dot com client.

    De-controlling FDI…
    The Group of Ministers (GoM) on Foreign Direct Investment (FDI) has cleared a slew of proposals, including 51 percent FDI in domestic airlines and 100 percent in operating subsidiaries of non-banking financial companies and in bulk drug manufacturing. Besides, 100 percent FDI in hotels and tourism sector has also been also permitted.

    Godrej consolidates…
    Godrej Agrovet, part of the Rs 35 billion (US$ 753 million) Godrej Group, has picked up 74 percent stake in Gold Mohur Foods & Feeds, a subsidiary of Hindustan Lever. This is expected to consolidate Godrej’s market share in the animal feeds business. However, the consideration is yet to be finalised. It is also not clear as to why HLL has decided to hold the remaining 24 percent in the subsidiary.

    Bajaj skids…
    Bajaj Auto has reported a 78 percent drop in net profits to Rs 281 million (US$ 6 million) for the third quarter ended 31st December 2000. Sales for the first nine months of the current fiscal year have dropped by more than 47 percent. The company has been hit hard by declining scooter sales, which contributed 50 percent to the turnover in fiscal year 2000.

    Hero Honda net up…
    Hero Honda Motors, the country's leading motorcycle manufacturer, has recorded a 44 percent growth in sales for the third quarter ended 31st December 2000. Net profit grew by 45 percent, from Rs 495 million (US$ 10.6 million) to Rs 702 million (US$ 15.1 million). The company has opted for a share split of existing shares of Rs 10 each into five shares of Rs 2 each.

    Wipro’s margin expand…
    Wipro Limited has reported a 120 percent rise in net profit to US$ 41 million for the third quarter ended 31st December 2000. This excluded extra ordinary losses of US$ 8.9 million, which occurred due to sale of shares of Wipro Finance Limited. The highlight of the performance is the jump in operating margins from 24 percent in the second quarter of the fiscal year 2001 to 29 percent in the third quarter, indicating higher billing rates. The company’s management said that the its software development contract with General Electric might not be renewed due to pricing factor (GE’s accounts for close to 5 percent of turnover of Wipro).

     

     

    Equitymaster requests your view! Post a comment on "Top stories this week…". Click here!

      
     

    More Views on News

    Tejas Networks Ltd. (IPO)

    Jun 14, 2017

    Should you subscribe to the IPO of Tejas Networks Ltd?

    Discover the Secrets of Hidden Smallcaps From These AGMs (The 5 Minute Wrapup)

    May 26, 2017

    Don't be surprised to come across some Super Investors there!

    A Trader's Nightmare. A Business Owner's Delight. (The 5 Minute Wrapup)

    May 19, 2017

    Not all small-cap investors see themselves as traders. Some see themselves as business owners.

    Securities & Intelligence Services Ltd. (IPO)

    Jul 31, 2017

    Should you subscribe to the IPO of Securities & Intelligence Services Ltd?

    Why Super Investors are Underperforming in This Market (The 5 Minute Wrapup)

    Jul 8, 2017

    If Super Investors can wait for the right pitch, so can you.

    More Views on News

    Most Popular

    A 'Backdoor' to Multibaggers: It's Like Investing in Asian Paints Ten Years Ago(The 5 Minute Wrapup)

    Aug 10, 2017

    Don't miss these proxy bets on growing companies or in a few years you will be looking back with regret.

    The Most Profitable Investment in the History of the World(Vivek Kaul's Diary)

    Aug 8, 2017

    'Yes, it looks like a bubble. And, yes, it's like buying a lottery ticket. But there's something happening that has never happened before. It's an evolutionary leap in money itself.'

    Should You Invest In Bharat-22 ETF? Know Here...(Outside View)

    Aug 8, 2017

    Bharat-22 is one of the most diverse ETFs offered so far by the Government. Know here if you should invest...

    Signs of Life in the India VIX(Daily Profit Hunter)

    Aug 12, 2017

    The India VIX is up 36% in the last week. Fear has gone up but is still low by historical standards.

    Bitcoin Continues Stellar Rise(Chart Of The Day)

    Aug 10, 2017

    Bitcoin hits an all-time high, is there more upside left?

    More
    Copyright © Equitymaster Agora Research Private Limited. All rights reserved.
    Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

    LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

    SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

    Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
    Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
     

    Become A Smarter Investor In
    Just 5 Minutes

    Multibagger Stocks Guide 2017
    Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
    We will never sell or rent your email id.
    Please read our Terms

    MARKET STATS