Aditya Birla Nuvo Ltd has posted a net profit of Rs 806.50 million for the quarter ended December 31, 2009 as compared to Rs 41.10 million for the quarter ended December 31, 2008. Total Income has increased from Rs 12130.70 million for the quarter ended December 31, 2008 to Rs 12684.10 million for the quarter ended December 31, 2009.

GMR Infrastructure

GMR Infrastructure Ltd has posted a net profit after tax of Rs 18.40 million for the quarter ended December 31, 2009 as compared to Rs 222.70 million for the quarter ended December 31, 2008. Total Income has increased from Rs 373.30 million for the quarter ended December 31, 2008 to Rs 517.80 million for the quarter ended December 31, 2009.

SREI Infrastructure

SREI Infrastructure Finance Ltd has informed that, in an all-cash deal a consortium led by the Company in an auction has emerged as the highest bidder to acquire 57.17% stake in DPSC Ltd. from Andrew Yule and Company Ltd., Life Insurance Corporation of India and United India Insurance Company Ltd. Andrew Yule and its subsidiaries own 15.20% in DPSC, while LIC and UII own 30.61% and 11.36%, respectively.

McNally Bharat

McNally Bharat Engineering Company Ltd has informed that McNally Bharat Infrastructure Ltd, a 100% subsidiary of the Company has signed a Memorandum of Understanding with the Promoters of Buildmet Ltd. for buying the 100% equity share capital of the said Buildmet Ltd. held by the Promoters at a value of Rs. 37 Crores.

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BUY GMR Infrastructure Stop Loss 60 Target 68

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During September 2009 quarter, GMR Infrastructure reported revenues of Rs 1,200 crore, up 41 per cent year-on-year (y-o-y). However, net profit after minority interest of Rs 54.9 crore was down 50 per cent y-o-y due to several one-time items like Rs 9.5 crore of write-back of depreciation towards Vemagiri project and Rs 12.5 crore of prior period service tax charge in Hyderabad airport SPV. On the operating front, its airport business witnessed momentum as passenger traffic grew on y-o-y basis by over 20 per cent at Delhi Airport and 8 per cent at Hyderabad Airport. In the road segment as well, most road projects which were under construction have entered operations phase and monthly annuity/toll collection stood at Rs 30.5 crore against Rs 11.6 crore in the quarter. In the power business, PLF improved for its projects–Vemagiri operated at 90 per cent, while Chennai Power’s PLF stood at 73 per cent. On a SOTP basis, the stock is valued at Rs 54 per share. At Rs 67, it trades at a PE of 51 times and 53.4 times estimated 2009-10 and 2010-11 earnings and price to book value of 3.6 times and 3.4 times, respectively

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Asian Markets
Asian markets open flat with negative bias.
Nikkei Stock Average 225 down 0.17 pct at 9,725.43.
KOSPI Index down 0.64 pct at 1,405.81.
Straits Times Index down 0.37 pct at 2,375.11.
Shanghai Composite Index down 0.59 pct at 2,762.26.

US Market Closed Lower
US Markets ended lower on Wednesday with Dow Jones industrial average down 65.59 points, down 0.75 percent, to 8675.28. The Standard & Poor’s 500 index was down 12.98 points, down 1.37 percent, to 931.76. The tech-heavy Nasdaq composite index down 10.88 points,down 0.59 percent, to 1825.92.

European Stocks Ended lower
European stocks ended lower on Wednesday.Britain’s FTSE 100 fell 2.09 percent down 93.60 points to 4,383.42, Germany’s DAX index fell 1.74 percent down 89.53 points to 5,054.53,France’s CAC-40 fell 2.02 percent down 68.39 points to 3,309.65.

Commodities
Crude Oil fell more than 3 percent Wednesday.Crude Oil ended down $2.43 to settle at $66.12 a barrel, after falling as low as $64.95 during intraday.Gold settled at $966 a troy ounce, down 1.91 percent.

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SKUMARSYNF ( S Kumars Nationwide Ltd )

RAJESHEXPO ( Rajesh Exports Ltd )

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