Sure Shot Share Tips

L&T rose 0.69% to Rs 1,684.95 at 10:40 IST on BSE after the company said its subsidiary, L&T Infrastructure Development Projects, achieved financial closure for two of its road projects in Maharashtra on 30 November 2012.

The announcement was made during trading hours today, 7 December 2012.

Meanwhile, the BSE Sensex was up 28.73 points, or 0.15%, to 19,515.53.

On BSE, 42,000 shares were traded in the counter as against an average daily volume of 2.21 lakh shares in the past one quarter.

The stock hit a high of Rs 1,688.90 and a low of Rs 1,674 so far during the day. The stock had hit a 52-week high of Rs 1,719.50 on 29 October 2012. The stock had hit a 52-week low of Rs 971 on 21 December 2011.

The stock had underperformed the market over the past one month till 6 December 2012, rising 0.49% compared with the Sensex's 3.56% rise. The scrip had, however, outperformed the market in past one quarter, jumping 27.05% as against Sensex's 12.34% rise.

The large-cap engineering and construction company has equity capital of Rs 122.98 crore. Face value per share is Rs 2.

L&T said the projects will be funded by an ICICI Bank-led consortium. The turnkey engineering procurement construction (EPC) contracts for the projects have been awarded to L&T, the company added.

The projects involve development (four laning) of contiguous stretches on national highway (NH)-6 - Amravati to Jalgaon and Jalgaon to the Gujarat / Maharashtra border. The length of these stretches on NH-6 are approximately 275 kilometre (km) and 209 km respectively with the concession period for the prejects being 19 years and 20 years respectively, including the construction period 2.5 years. These are among the longest road projects in the country, bid out on design, build finance, operatem transfer (DBFOT) basis, L&T said.

The company said that the National Highways Authority of India's (NHAI) estimate of the project costs are Rs 2537.81 crore for the Amravati - Jalgaon stretch and Rs 1968.37 crore for the Jalgaon to Gujarat / Maharashtra border stretch. Both are part of the East-West connector, linking hubs of economic activity in Gujarat and Maharashtra to the mineral-rich states of Orissa and Chattisgarh.

L&T Infrastructure Development Projects (L&T IDPL) has one of the largest project protfolios in the road sector in India comprising approximately 9200 lane km with a project cost of Rs 22000 crore. L&T IDPL's portfolio of road projects includes some of the most economically significant and high traffic corridors connecting improtant industrial towns in India.

L&T's net profit rose 42.5% to Rs 1137.31 crore on 17.4% growth in net sales to Rs 13195.23 crore in Q2 September 2012 over Q2 September 2011.

L&T is a $13.5 billion technology, engineering, construction, manufacturing and financial services conglomerate with global operations.

Sure Shot Share Tips

Lanco Infratech surged 3.57% to Rs 13.34 at 15:07 IST on BSE, with the stock extending 2-day 5.57% rally triggered by the company entering into a memorandum of understanding with the China Development Bank to raise $2 billion debt.

Meanwhile, the BSE Sensex was up 349.49 points or 1.85% at 19191.57.
On BSE, 50.15 lakh shares were traded in the counter as against average daily volume of 43.19 lakh shares in past one quarter.
The stock hit a high of Rs 13.40 and a low of Rs 12.45 so far during the day. The stock had hit a 52-week high of Rs 25.10 on 17 February 2012. The stock had hit a 52-week low of Rs 8.50 on 19 December 2011.
The stock had outperformed the market over the past one month till 27 November 2012, surging 10.95% compared with the Sensex's 1.16% rise. The scrip had also outperformed the market in past one quarter, jumping 15.63% as against Sensex's 6.58% surge.
The mid-cap company has equity capital of Rs 240.78 crore. Face value per share is Re 1.
Shares of Lanco Infratech (LITL) have jumped 9.43% in three trading sessions from a recent low of Rs 12.19 on 23 November 2012, after the company during trading hours on 26 November 2012 said it has entered into a memorandum of understanding (MoU) with the China Development Bank (CDB), to arrange $2 billion debt for the company's two power projects in India. LITL said it has entered into a MoU with the CDB, a bank owned by the government of Peoples Republic of China, to arrange $2 billion debt for LITL's two power projects i.e. Anpara Phase II and Himawat, each having capacity of 2x660 megawatts (MW) with supercritical boiler technology. Out of the total amount of $2 billion required to be raised, $600 million will be contributed by CDB, and CDB will syndicate the balance from Chinese banks and FIs, LITL said in a statement.
CDB has already sanctioned $200 million Buyers' Credit for Amarkantak 3 & 4, Babandh and Vidarbha power projects being developed by Lanco Group. CDB is the largest Chinese development banking institution and one of the leading international bank with total assets exceeding $1.1 trillion (September 2012).
Lanco Infratech reported a consolidated net loss of Rs 135.93 crore in Q2 September 2012, lower than net loss of Rs 259.48 crore in Q2 September 2011. Net sales rose 67.7% to Rs 3164.18 crore in Q2 September 2012 over Q2 September 2011.
Lanco Infratech is one of the largest private sector independent power producers (IPP) in India having an operating capacity of 4,740 MW with another 4,636 MW under various stages of execution. This includes projects based on coal, gas, hydro, solar and wind. The company has a target of holding 13,000 MW operating capacity by 2015. The company has an engineering, procurement, and construction (EPC) order book of Rs 28500 crore.

Sure Shot Share Tips

Hindustan Petroleum is on the verge of giving a downward breakout on the daily charts. For the last two trading days, the stock has been taking support around its medium-term moving average at Rs 324.

Sustained trade below Rs 324 can weaken the stock, and it can then slip to Rs 310. On the upside, the stock is likely to face considerabl resistance around Rs 340.

Share Market Updates

Nifty, the National Stock Exchange index suddenly sank by over 900 points in a matter of minutes to a session low of 4,888.20 points, 15.5% below Thursday’s close, after Emkay Global Financial Services placed dozens of erroneous orders worth more than $125 million, reported Reuters. Trading in Nifty was stopped at 9:49 a.m. in Mumbai for 15 minutes. The National Stock Exchange of India said 59 erroneous orders prompted a plunge in equities that briefly erased about $58 billion in value, underscoring the growing global concern about the integrity of financial markets. The sudden collapse shook nerves of Share Market traders & investors alike. Analysts had already expected a session of falls after the impact on Equity Markets from India’s latest reform measures, targeting the insurance and pension sectors, was expected to fade. Traders expressed concerns the financial measures announced on Thursday would face an uncertain fate in parliament. The 50-share Nifty fell 0.7%, or 40.65 points, to end at 5746.95 points, having hit its highest Intraday level since April 28 2011 shortly after trading resumed after the halt. The drop in the Nifty comes after a powerful run, with the index gaining 0.8% for a fifth consecutive weekly gain. The BSE-Sensex fell 0.63%, of 119.69 points, to end at 18,938.46 points after earlier in the session hitting its highest Intraday level since May 2 2011. BSE Sensex added 0.94% for the week. Mortgage lender HDFC dropped 5% after Carlyle Group sold a 3.7% stake for $841 million at a 3.5% discount to Thursday’s closing share prices. The volume of stocks in the benchmark index that were traded today almost doubled from the 100-day average, according to data compiled by Bloomberg.