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Voltas waltzes on Dutch tie-up
Voltas surged 4.75%, to Rs 876 on partnering with Netherlands-based Besseling Group to deliver turnkey solutions for storage of horticulture produce.As many as 46,003 shares were traded on the BSE.The stock has smartly recovered after depreciating since mid-June till earlier July. From Rs 854.30 on 16 June 2006, it had slipped to Rs 652.25 on 24 July 2006, under intense selling pressure. Here, it found support and advanced to Rs 836.30 by 24 August 2006 on strong Q1 results.
At the current market price of Rs 876, Voltas trades at 31.97 times its FY06 EPS of Rs 27.40.
Voltas and Netherlands-based CA/ULO storage technology specialist Besseling Group have announced the formation of a strategic partnership to deliver turnkey solutions for storage of horticulture produce in the controlled atmosphere (CA) / ultra-low-oxygen (ULO) atmosphere. The company will be Besseling-Group’s sole representative in India.
The Voltas-Besseling alliance has tremendous scope when one considers the scale and size of the storage solutions market in India, which is as large as Rs 5,000 crore. The company plans on targeting a sizeable chunk of this market and has bagged several projects including Adani project, International Flower Auction Sector in Bangalore, Abhirami in Chennai, and Jaya Cold Storage in Tamil Nadu.
Meanwhile, Voltas, the Rs 2,022 crore air-conditioning and engineering services company, of the Tata group, is betting big on water treatment as a future growth driver. Water treatment, purifying, recycling, and desalination are some areas the company is actively looking at and may acquire the technology in this space to service the sector.
The electro-mechanical projects division contributes 55% to the topline as well as bottomline, whereas the engineering products and services contributes 7-8% to revenues and 25% to net profit.
The company is setting up three plants in Himachal Pradesh for Rs 50 crore. The company has shut its Hyderabad unit, whose production line will be shifted to Pantnagar. Its voluntary retirement scheme bill for the year stood at Rs 65 crore.
Voltas registered a net profit growth of 31% to Rs 21.75 crore (Rs 16.55 crore) for Q1 June 2006. Net sales rose 33% to Rs 580.40 crore (Rs 436.71 crore).
Hindustan Motors hails land development clearance
Hindustan Motors jumped on heavy volumes for the second day in a row after the West Bengal government allowed it to develop land at its plant near Kolkata.The scrip was up 6% to Rs 42.60. As many as 36.4 lakh shares changed hands in the counter on BSE.
Anther announcement by the company that it will expand its auto components business also aided the rally in the stock. The stock has surged in the past few days amid intermittent rise in volumes. From Rs 31.60 on 7 August, the stock has risen 34.8% to current Rs 42.60. From an earlier low of Rs 25.70, the stock has gained 65.7%.
Hindustan Motors said it is planning to develop automotive forgings, automotive castings & automotive stampings business by cost effectively leveraging existing facilities & infrastructure. Hindustan Motors has been ramping up production of automobile components for other carmakers at its 63-year-old Uttarpara (Kolkata) factory using the facilities like foundries, which had become a drag on it.
McKinsey & Company and other reputed consultants have forecast auto component exports from India to grow manifold from current levels of $ 1.5 billion and Uttarpara is well placed to ride this growth wave, Hindustan Motors said in a press release today.
Meanwhile, Hindustan Motors has got clearance from the West Bengal government to develop land at its plant near Kolkata. Hindustan Motors plans to develop a residential township, auto parts cluster and an information technology hub in 314 acres, of the 700 acres, it owns near Kolkata.
Hindustan Motors (HM) makes Mitsubishi (Lancer) cars since 1998 under a tie-up with Mitsubishi Motor Corporation, Japan. Recently, the company launched premium sports utility Montero, which is being imported as a completely built unit from Mitsubishi, Japan.
HM also plans to launch a range of Mitsubsishi cars in India next year, and is entering into a special partnership for their exclusive marketing.
Voltas surged 4.75%, to Rs 876 on partnering with Netherlands-based Besseling Group to deliver turnkey solutions for storage of horticulture produce.As many as 46,003 shares were traded on the BSE.The stock has smartly recovered after depreciating since mid-June till earlier July. From Rs 854.30 on 16 June 2006, it had slipped to Rs 652.25 on 24 July 2006, under intense selling pressure. Here, it found support and advanced to Rs 836.30 by 24 August 2006 on strong Q1 results.
At the current market price of Rs 876, Voltas trades at 31.97 times its FY06 EPS of Rs 27.40.
Voltas and Netherlands-based CA/ULO storage technology specialist Besseling Group have announced the formation of a strategic partnership to deliver turnkey solutions for storage of horticulture produce in the controlled atmosphere (CA) / ultra-low-oxygen (ULO) atmosphere. The company will be Besseling-Group’s sole representative in India.
The Voltas-Besseling alliance has tremendous scope when one considers the scale and size of the storage solutions market in India, which is as large as Rs 5,000 crore. The company plans on targeting a sizeable chunk of this market and has bagged several projects including Adani project, International Flower Auction Sector in Bangalore, Abhirami in Chennai, and Jaya Cold Storage in Tamil Nadu.
Meanwhile, Voltas, the Rs 2,022 crore air-conditioning and engineering services company, of the Tata group, is betting big on water treatment as a future growth driver. Water treatment, purifying, recycling, and desalination are some areas the company is actively looking at and may acquire the technology in this space to service the sector.
The electro-mechanical projects division contributes 55% to the topline as well as bottomline, whereas the engineering products and services contributes 7-8% to revenues and 25% to net profit.
The company is setting up three plants in Himachal Pradesh for Rs 50 crore. The company has shut its Hyderabad unit, whose production line will be shifted to Pantnagar. Its voluntary retirement scheme bill for the year stood at Rs 65 crore.
Voltas registered a net profit growth of 31% to Rs 21.75 crore (Rs 16.55 crore) for Q1 June 2006. Net sales rose 33% to Rs 580.40 crore (Rs 436.71 crore).
Hindustan Motors hails land development clearance
Hindustan Motors jumped on heavy volumes for the second day in a row after the West Bengal government allowed it to develop land at its plant near Kolkata.The scrip was up 6% to Rs 42.60. As many as 36.4 lakh shares changed hands in the counter on BSE.
Anther announcement by the company that it will expand its auto components business also aided the rally in the stock. The stock has surged in the past few days amid intermittent rise in volumes. From Rs 31.60 on 7 August, the stock has risen 34.8% to current Rs 42.60. From an earlier low of Rs 25.70, the stock has gained 65.7%.
Hindustan Motors said it is planning to develop automotive forgings, automotive castings & automotive stampings business by cost effectively leveraging existing facilities & infrastructure. Hindustan Motors has been ramping up production of automobile components for other carmakers at its 63-year-old Uttarpara (Kolkata) factory using the facilities like foundries, which had become a drag on it.
McKinsey & Company and other reputed consultants have forecast auto component exports from India to grow manifold from current levels of $ 1.5 billion and Uttarpara is well placed to ride this growth wave, Hindustan Motors said in a press release today.
Meanwhile, Hindustan Motors has got clearance from the West Bengal government to develop land at its plant near Kolkata. Hindustan Motors plans to develop a residential township, auto parts cluster and an information technology hub in 314 acres, of the 700 acres, it owns near Kolkata.
Hindustan Motors (HM) makes Mitsubishi (Lancer) cars since 1998 under a tie-up with Mitsubishi Motor Corporation, Japan. Recently, the company launched premium sports utility Montero, which is being imported as a completely built unit from Mitsubishi, Japan.
HM also plans to launch a range of Mitsubsishi cars in India next year, and is entering into a special partnership for their exclusive marketing.
posted by saylee at 4:17 AM
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