Stocks In Action: 7th August 2012

As per the BSE Filings Uttam Galva Steel has announced its result for the quarter ended June 2012. The net sales of the company increased by 34% on YoY basis and 65.75% QoQ to Rs 2057.7 crore. The net profit of the company rose by 12% year-on-year to Rs 10.2 crore in the quarter ended June 2012, but it dropped by 74.5% quarter-on-quarter. The result has come in line with the market expectation and therefore we may see some positive momentum in the stock today.

As per Business standard Germany-based Siemens today said a consortium led by it has won a Rs 1,988 crore contract from country's top iron ore miner NMDC for the supply of a steelmaking plant. "A consortium led by Siemens VAI Metals Technologies received an order from National Mineral Development Corporation Limited (NMDC) for the supply of a complete LD (BOF) steelmaking plant. The order volume for the consortium amounts to approximately 290 million euro (Rs 1,988 crore)", Siemens said in a statement. The steel works will be conducted at Nagarnar in Chhattisgarh as part of an integrated production complex with an annual capacity of approximately three million tonnes of steel, it said. The scrip may see some positive momentum today

Tube Investment yesterday announced its result for the June quarter 2012. The total Income of the company increased by 4% on YoY basis to Rs 914.80 crore while the major impact was on the bottom-line as its net profit declined by 23% on YoY basis to Rs 38.43 crore.  Company's Chairman M M Murugappan said the drop was due to slowdown in the user industry. It may be noted major portion of the company's business comes from the automobile industry. We believe on the back of the poor result for the quarter the scrip may see some pressure today.

As per the Media News Engineers India Ltd (EIL) today said it has bagged a project management consultancy contract from the 2,000 km Mallavaram-Bhopal-Bhilwara-Vijaipur natural gas pipeline project. GSPL India Transco Ltd, the Gandhinagar-based firm which would be implementing the project, has awarded the project management consultancy services contract to EIL, the state-owned firm said in a statement here. The project consists of about 2,000-km of natural gas pipeline, involving 1,650 km of trunk line plus 350 km of spur lines along with other facilities like dispatch and receipt terminals, telecom/SCADA network and metering facilities. This a positive news for the company and the scrip may see some positive momentum today.