Money Tree

The quarterly results of Unitech were announced on 31st January 2007. The turnover for the quarter ended on 31st December 2006 stood at Rs. 1003 crores as compared to Rs. 172 crores for the corresponding quarter of the previous year.
The net profits also rose from RS. 14 crores to Rs. 452 crores for the said period. The growth of the company has been phenomenal in the last couple of years, beating all market expectations. The stock of the company is also performing on the same lines. The company is riding on the ongoing boom in the real estate sector with a number of ongoing projects.

The much awaited IPO of PFC has opened today and will remain open for subscription till 6th February 2007. The shares are offered in a price band of Rs 73 to Rs. 85 per share and the minimum bid size is 80 shares.

Yesterday SEBI had barred 24 key operators from stock market and 12 DPs have been barred to open fresh demat accounts.
This news shall have a temporary effect on the markets, markets are expected to fall today, but this will be temporary as actually the news is positive for markets for SEBI seems to have taken stringent action against the culprit of the IPO scam. If the market falls sharply, take it as an opportunity for buying stocks at lower levels.

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Liberty shoes quarterly results were out yesterday, the company has posted 101% increase in net profits for the year 2005-06 (unaudited) as compared to last year. However Net sales were reported to have increased by 15%.

As per a recent news Videocon is all set to acquire Daewoo Electronics for around Rs. 500 crores. This acquisition will strengthen the position of videocon on international frontiers in U.S., Europe and Japan.

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The Nambiars are raising their holding in BPL from 56% to 73% according to a news. The additional shares are a conversion of loan and are proposed to be taken up at Rs. 43 per share.

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