Monnet Ispat & Energy’s fiscal 3Q 2009 (ending December 31, 2009) NI rose by 103% YoY to INR680 mn from INR335 mn in fiscal 3Q 2008. Total income for the period fell by 6.97% YoY to INR3,721.9 mn from INR4,000.8 mn in fiscal 3Q 2008, while Total Expenditures declined by 17.9% YoY to INR2,778.0 mn [...]

Zylog Systems’ fiscal 3Q 2009 NI rose by 15.21% YoY to INR247.6 mn from INR214.9 mn in fiscal 3Q 2008, an increase of 18.4% QoQ. Fiscal 3Q 2009 Revenues rose by 3.16% YoY to INR2,016.5 mn from INR1,954.7 mn in fiscal 3Q 2008, an increase of 5.6% QoQ. Employee Costs during fiscal 3Q 2009 declined [...]

Chinese brokerage firm Huatai Securities, based in Nanjing, has set an indicative price range of CNY20-22 ($2.93-3.22) per share for its IPO, which values the stock at 29.4-32.4 times 2009 earnings. The 784.6 mn A-share offering, representing 14% of Huatai’s enlarged share capital, stands to raise as much as CNY17.26 bn ($2.53 bn) for the [...]

Poly Real Estate Group’s FY 2009 NI rose by 57.19% YoY to  CNY3.519 bn ($515 mn) on turnover of CNY22.99 bn, up 48.11% YoY. FY 2009 EPS rose by 51.4% YoY to CNY1.06 from CNY0.7 for FY 2008. The company said that its nationwide market share increased to 1.3%, a 0.3 percentage point increase over [...]

Dalmia Cement (Bharat) has raised its stake in OCL India to 45.4% from 21.7% percent earlier, in an all cash deal. Dalmia Cement bought 13.46 mn shares, or 23.66%, of OCL India at INR131.83 per share.
Dalmia Cement (Bharat) Ltd. Of India manufactures cement, clinker and sugar. The manufacture and sale of sugar accounts for a [...]

On Tuesday India’s state-run power utility NTPC set the price floor for its upcoming share sale at INR201 per share, bringing the implied size of the offering of 412.2 mn shares to INR82.87 bn ($1.79 bn), the largest sale of a state asset in the government’s current privatization program drive. The sale represents 5% of [...]

Falcon Tyres plans to seek as much as INR40 bn ($865 mn) in debt and equity financing to fund expansion. The company’s Board has approved equity fnancing in the amount of INR10 bn ($216 mn) and to increase the borrowing limit to INR30 bn. The equity capital raise is planned in several stages, the first [...]

Emami’s fiscal 3Q 2009 (ending December 31, 2009) Consolidated Revenue rose by 30.3% YoY to INR3.5 bn, with Consolidated EBIDTA up by 90% YoY to INR1.06 bn and Profit After Taxes up by 93.9% YoY to INR78o mn. EBIDTA margins in fiscal 3Q 2009 rose to 31.7% from 20.7% in fiscal 3Q 2008.
Emami, a leader [...]

Indian Hotels, a unit of Tata Group that runs the Taj Hotels Resorts and Palaces chain of hotels, has entered into an agreement with Palm Hills Developments, to run three high-end hotels in Egypt. The three hotels will be part of Palm Hills’ upcoming developments at the North Coast, Ain El Sokhna at the Red [...]

Suzlon Energy, India’s largest wind turbine maker, plans to divest its entire 26% stake in Hansen Transmissions International [HSN LN], its Belgian gearbox technology unit, as
doesn’t see major future benefits from retaining the interest. Two private equity firms, including a US energy fund, are reportedly interested in purchasing Suzlon’s stake, which is worth an estimated [...]