What’s buzzing in these stocks right now
Rama Newsprint: Rumours range from land bank sale to the sale of the promoter shareholding - small share sales from the promoters have been happening regularly from June (as per the BSE website). However, the real story seems to be newsprint prices and a recent interview in which the management talked about developing its surplus land into an SEZ.
Paper and newsprint prices, which were flat to down in the calendar year 2009, have firmed up in recent months. Rama Newsprint (which claims on its website to be India's largest private sector newsprint and printing and writing paper manufacturing company at a single location in India meeting 22% of India's newsprint capacity) is set to benefit from this. Its manufacturing facility is spread over 450 acres of land in village Barbhodhan, Gujarat. Barbhodhan is not close to Ahmedabad (more than 300km away) but is pretty close to Surat (20km or so) and also close to Hazira port.
In a recent televised interview, Rama's management had said that it has a sales target of Rs3.5 billion for FY11. It also said it has 415 acres of surplus land and has earmarked around 250 acres out of this for a possible SEZ (study being conducted by Tata Strategic Management Group and Ernst & Young). It had said it is in dialogue with "possible co-developers and bankers and the response is quite positive".
Archies: Renewed rumours of a takeover bid from Videocon. Promoters hold 62% stake in Archies while Videocon has 4% stake. However, merger/stake sale rumours are not restricted to Videocon but spill over to Bennett, Coleman & Company, which holds 3.7% stake, and Hanung Toys. Archies has repeatedly denied such rumours.
Sri Adhikari Brothers: The buzz around this stock seems to be from the launch of its channel Mastiii, India's first music and comedy channel. The channel has 70% music, and 30% humour such as gags, spoofs and jokes with artistes like Raju Srivastava, Suresh Menon, Sunil Pal, etc. The channel was launched on 4th July and is being hailed a success by the media. It is currently free-to-air.
In its June quarter, it made Rs80 million in revenue and Rs14 million in profit (Rs282 million and a loss of Rs1 million in FY10). Promoters hold 43% in the company while some 'bodies corporate' hold 30%.
(This article is based on secondary research. The report is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife).
Nokia launches music phone X2 at Rs6,579; Baroda Pioneer MF unveils Baraod Pioneer PSU Equity Fund; HDFC Mutual Fund introduces HDFC FMP 100D September 2010 (2); L&T Mutual Fund floats L&T FMP-I (September24M A); SBI Mutual Fund launches SBI Debt Fund Series-24 Months-2
Nokia launches music phone X2 at Rs6,579
Mobile handset maker Nokia has launched its latest music phone, Nokia X2 in the market at a price of Rs6,579. Nokia X2 comes with dedicated music keys and 3.5mm AV connector, FM radio with built-in antenna, a digital music player and loud stereo speakers for sharing music. It also offers a 5 megapixel camera with flash and a video recorder.
Baroda Pioneer MF unveils Baraod Pioneer PSU Equity Fund
Baroda Pioneer Mutual Fund has launched Baraod Pioneer PSU Equity Fund, an open-ended growth scheme. The investment objective of the scheme is to provide long-term capital growth along with liquidity by making investments in equity stocks of domestic public sector undertakings. The scheme offers two options - growth and dividend. The new fund offer (NFO) price for the scheme will be Rs10 per unit. The scheme opened on 13th September and will close on 24th September. An exit load of 1% will be applicable if the units are redeemed on or before 365 days from the date of allotment. The minimum investment amount is Rs5,000. The benchmark for the scheme is BSE PSU Index.
HDFC Mutual Fund introduces HDFC FMP 100D September 2010 (2)
HDFC Mutual Fund has introduced HDFC FMP 100D September 2010 (2), under HDFC Fixed Maturity Plans-Series XIV. The scheme is a close- ended income scheme. The investment objective of the plan under the scheme is to generate income by making investments in debt instruments maturing on or before the maturity date of the plan. The plan offers growth and dividend (payout) option. The plan opens of 15th September and closes on 16th September. The new fund offer (NFO) price for the plan is Rs10 per unit. The exit load for the plan is nil. Minimum investment amount is Rs5,000. The minimum target amount is Rs1 crore. The benchmark index for the plan is Crisil Liquid Fund Index.
L&T Mutual Fund floats L&T FMP-I (September24M A)
L&T Mutual Fund has launched L&T FMP-I (September 24M A), a close-ended income scheme. The investment objective of the plan under the scheme is to achieve growth of capital by making investments in debt/fixed income securities maturing on or before the maturity of the plan. The scheme opened on 13th September and will close on 22nd September. The exit load for the plan is nil. The new fund offer (NFO) price for the plan will be Rs10 per unit. The minimum investment amount is Rs5,000. The plan offers growth and dividend (payout) option. The minimum target amount is Rs1 crore. The benchmark index for the plan is CRISIL Short Term Bond Fund Index.
SBI Mutual Fund launches SBI Debt Fund Series-24 Months-2
SBI Mutual Fund has launched SBI Debt Fund Series-24 Months-2, a close-ended income scheme. The investment objective of the scheme is to provide regular income, liquidity and returns to the investors by making investment in debt instruments. The scheme has two options - growth and dividend (payout). The scheme opened on 13th September and will close on 17th September. The new fund offer (NFO) price for the scheme will be Rs10 per unit. The minimum investment amount is Rs5,000. The benchmark index for the scheme is CRISIL Short Term Bond Fund Index. The exit load for the scheme is nil.
Bangalore: Describing US "protectionist" moves as a "disturbing trend", apex IT industry body NASSCOM today said it hoped that America will make more investments to create jobs, instead of taking such "regressive" actions, reports PTI.
"I hope the US makes more positive investments to create jobs and to become competitive, rather than taking any regressive action which seems negative and will lead to protectionist measures around the world," NASSCOM chairman Som Mittal said.
The state of Ohio in the US recently banned outsourcing by government departments to offshore locations like India.
The move came shortly after the US enacted a controversial legislation that proposed to strengthen security along its border with Mexico by increasing H-1B and L1 visa fees, which are highly sought after by Indian IT professionals.
Talking to reporters on the sidelines of the NASSCOM Infrastructure Management Services Summit 2010 here, Mr Mittal said the industry expects to hear more noise on the issue in view of the forthcoming elections to the US Senate and House of Representatives, but "we do not know in what form or shape it would be".
It was also not necessary that it would all be targeted at India, he added.
On the issue of flexible work permits and single visas for European Union countries, which the Indian IT industry has been clamouring for, he said NASSCOM had been working with the EU for last two years. It has produced a white paper, which has been accepted, he said.
He said this would be a "win-win situation not only for Indian service providers, but for everyone". At present, one has to apply to individual EU countries separately for a visa.
If a single visa was allowed, it could simplify things and reduce costs, not only in terms of application and processing fees, but also in travel planning and efficient use of people.
Such move might take a year's time given the fact that all the EU countries had to agree to it, he added.
On whether there is any opposition to the move, he said there were concerns, but was confident that the hurdles would be cleared.