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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5951)	8/27/1999 1:52:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Construction companies perk up on bourses Jai Kumar NR -------------------------------------------------------------------------------- New Delhi, Aug 26: The rally in cement and steel scrips is percolating to construction stocks, too. The stocks like Acrow India, Gammon India, IVRCL Infrastructure, JMC Projects, Kvaerner Cementation, Mukund Engineers, Nagarjuna Construction, Simplx Concrete Piles, VM Jog Engineering and Subhash Projects have gained 37-21 per cent in the past six to eight trading sessions. The current buoyancy in these stocks (represented by companies which are into civil construction) is supported by a pick up in the construction activity. The revival of construction activity is reflected in the fact that demand for steel and cement has risen in the first quarter of the current fiscal. The pick up in demand for steel has not been witnessed in the past three years. Also, the government's move to repeal the Urban Land Ceiling Act and raising tax benefits for interest on housing loans is now paying dividend, which created a favourable climate for real estate development. Gammon India, which has risen by 79 per cent from Rs99.3 on July 29 to Rs 177.75 on August 25, has orders worth Rs 850 crore as on March 31, 1999. For fiscal 1999, the company recorded a turnover of Rs 328.34 crore, up 52 per cent, against Rs 215.66 crore for fiscal 1998. The company recorded a 43 per cent jump in net profit to Rs 10.01 crore. For the first quarter of the current fiscal, sales shot up to Rs 93.98 crore from Rs 51.96 crore in the corresponding quarter of the previous year. Net profit rose from Rs 1.84 crore to Rs 3.4 crore. Kvaerner Cementation Ltd, formerly Trafalgar House Construction India, is another major gainer, which has gained 31.57 per cent in 16 trading from Rs 285 on August 3 to Rs 375 on August 25. For the year ended December 31, 1998, Kvaerner Cementation Ltdstaged a turnaround by recording a 1390 per cent jump in net profit to Rs 7.90 crore against Rs 53.67 lakh in the previous year. The turnover has shot up to Rs 391.64 crore from Rs 235.27 crore. For the first six months of fiscal 1999, Kvaerner Cementation Ltd recorded anet profit of Rs 1.75 crore against Rs 2.67 crore in the corresponding period of 1998. Turnover stood at Rs 220.92 crore. The company had slipped into the red due to a slowdown in the construction industry, posting a loss before tax of Rs 1.78 crore for the year ended December, 1997 on a turnover of Rs 239.59 crore. In the past 15 trading, Simplex Concrete has gained 55 per cent from Rs 29 on July 20 to Rs 45 on August 25. The current activity at this counter is despite the fact that the company came out with a poor showing for both fiscal 1999 and for the first quarter of the current fiscal. The company's sales fell from Rs 354 crore in FY 1998 to Rs 295 crore in FY 1999. Net profit plunged to Rs 2.46 crore from Rs 8 crore. For the first quarter of the current fiscal, sales fell to Rs 75 crore from Rs 86 crore in the corresponding quarter of the previous fiscal. IVRCL Infrastructures & Projects Ltd has gained 28 per cent in the past eight trading sessions. Besides the revival of the constructionindustry, the stock is also rising due to a 1:1 bonus announced by the company. However, the stock is riding high as the company has a strong order book position of Rs 318 crore and the company is also bidding for project worth Rs 250 crore. (courtesy:Market Indicator-Express India)

To: Mohan Marette who wrote (5951)	8/27/1999 2:35:00 PM
From: ratan lal	Respond to of 12475

Mohan After I got my laser surgery I started to see my cup as half full. Using convoluted logic, I recommend everyone get laser surgery even if they have 20/20 vision. ratan

To: Mohan Marette who wrote (5951)	8/30/1999 5:00:00 AM
From: Nandu	Respond to of 12475

Meet Kerala's Chief Minister,the village idiot. Other recent *achievements* of our illustrious CM. Calling a TV reporter Bloody Rascal in the full glare of TV cameras, for asking an innocuous question on seat adjustments. Boasting at a press conference that the press do not know the true state of the law and order situation in Kerala, because not only he, the CM, had been lying to them about it, but had also instructed his staff to lie to the press if quizzed on law and order. Past achievements include. Rationalizing corruption as a global phenomena. Telling mallus not to worry about visa restrictions in the middle east, because, if mallus are thrown out of the Gulf, we will find some other country to work in. How an idiot like this managed to become the CM of a state like Kerala is an interesting question worthy of research.