Shares of turnaround firms rocket 323% in first half

 

Price as on (in Rs)

Net loss*

Net profit*

April 1, 2003

Dec 24, 2003

% change

Sep-02

Sep-03

Veejay Lakshmi Engg

9.15

111.10

1114.21

1.22

5.67

KIC Metaliks

3.45

35.60

931.88

0.55

1.76

Jyoti Structures

11.50

107.70

836.52

3.44

1.98

Sesa Goa

62.00

564.75

810.89

0.32

10.62

CESC

15.50

130.55

742.26

25.00

38.00

Kirloskar Ferrous

3.05

23.45

668.85

0.15

2.89

Solectron Centum

17.00

121.95

617.35

3.31

3.68

Welspun Gujarat

6.90

49.35

615.22

6.79

39.54

KEC International

9.25

63.70

588.65

5.41

4.37

Fine Drugs & Chem

12.50

82.80

562.40

0.94

0.51

Ennore Foundries

9.55

62.50

554.45

6.39

0.11

Titanor Components

13.75

88.55

544.00

0.02

3.39

Murudeshawar Ceramics

8.50

50.05

488.82

0.69

4.86

Chowgule Steam

2.85

16.75

487.72

3.74

0.22

NRC

6.75

37.55

456.30

4.60

7.68

SAIL

9.05

49.65

448.62

467.21

759.85

Agro Dutch Ind

7.50

40.80

444.00

18.04

4.94

Hind Sanitaryware

40.00

212.50

431.25

3.66

4.24

Transpek Ind

8.60

45.45

428.49

1.33

0.97

ABC Bearings

5.95

29.50

395.80

0.50

1.76

Asian Electronics

19.85

87.95

343.07

0.08

1.80

BEML

57.25

247.15

331.70

9.79

2.77

Tata Finance

14.50

57.15

294.14

35.72

5.19

TRF

22.50

84.70

276.44

7.49

0.57

Dawn Mills

110.00

410.00

272.73

0.18

0.87

Bharti Tele-Ventures

29.25

107.20

266.50

7.35

0.18

Lyka Labs

20.40

70.90

247.55

15.15

1.15

Hind Oil Exploration

16.00

53.55

234.69

13.37

1.22

ITC Hotels

45.00

139.55

210.11

6.69

1.34

RCF

12.95

38.45

196.91

133.47

74.66

  * Rs crore

Private sector telecom major Bharti Tele-Ventures, steel major Steel Authority of India (SAIL), Jindal Vijaynagar Steel, Bharat Earth Movers (BEML), Rashtriya Chemicals and Fertilisers (RCF), Tata Finance and Welspun Gujarat Stahl Rohren have gained more than 100 per cent each in the year. In fact, Arvind Products, Bharti Tele-Ventures, Fine Drugs and Chemicals, Sesa Goa and Welspun Gujarat hit their all time high prices on the Bombay Stock Exchange (BSE) after the announcement of first-half results. Veejay Laksmi Engineering was the major gainer, posting more than twelve fold gains from just Rs 9.15 on April 1 to Rs 111.10, after it reported a net profit of Rs 5.67 crore in the first half ended September 2003 against a net loss of Rs 1.22 core during the same period of the pervious year. The Sesa Goa scrip vaulted 811 per cent from Rs 62 to Rs 564.75, after the company reported a net profit of Rs 10.62 crore against a net loss of Rs 32 lakh, while the CESC scrip gained 742 per cent from Rs 15.50 to Rs 130.50. The company has reported a net profit of Rs 38 crore during first half of 2003-04 against a net loss of Rs 25 crore in the same period of the previous year. The SAIL scrip has risen more than five fold from just Rs 9.05 on April 1 to Rs 49.65, after it reported a huge net profit of Rs 759.85 crore in the half-year ended September 2003 against a net loss of Rs 467.21 core in the corresponding half of the previous year. The Bharti Tele-Ventures scrip has more than doubled in value from a low of Rs 21 at the beginning of the calendar year to the current price of Rs 107.20. The stock has appreciated 267 per cent after it reported a stand alone quarterly profit of Rs 18 lakh in the half-year ended September 2003 against a loss of Rs 7.35 crore during the corresponding half of the previous year.