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BSE Announcements on Nagarjuna Const
Posted by :
MMB MessengerNagarjuna Construction Co. Ltd has informed the Exchange vide its letter dated September 03, 2009 that "The Executive Committee of the Board of Directors of the Company at its meeting held today has approved the allotment of 2,77,32,900 equity shares of Rs.2/- each at a premium of Rs.130.46 and aggregating to Rs.367.35 Crores to the Qualified Institutional Buyers(QIBs) pursuant to the Chapter XIII A of the Securities Exchange Board of India (Disclosure of Investor Protection Guidelines), 2000 as amended. With the above allotment the Paid-up Capital of the Company has gone upto Rs.51,31,67,620/- divided into 25,65,83,810 Equity Shares of Rs.2/- each"....
BSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Company Ltd has informed BSE that the Executive Committee of the Board of Directors of the Company at its meeting held on September 03, 2009, inter alia, has approved the allotment of 2,77,32,900 equity shares of Rs 2/- each at a premium of Rs 130.46 and aggregating to Rs 367.35 Crores to the Qualified Institutional Buyers (QIBs) pursuant to the Chapter XIII A of the Securities Exchange Board of India (Disclosure of Investor Protection Guidelines), 2000 as amended. With the above allotment the Paid-up Capital of the Company has gone upto Rs 51,31,67,620/- divided into 25,65,83,810 Equity Shares of Rs 2/- each....
Dear sir
Posted by :
thanihaiselvanthanks sir. forgot to reply u. thanks for ur kind information. also can u plz let me know about the bharti airtel and its dividend?? when will it come to us??...
Undervalued
Posted by : GuestWill go up soon..Got good orders and raising money too.....
BSE Announcements on Nagarjuna Const
Posted by : MMB Messenger
Nagarjuna Construction Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 01, 2009, inter alia, have transacted the following :
- Declared the closure of the Bid Period for issue of Equity Shares of the Company of face value of Rs 2 each, upto a maximum aggregate amount of Rs 367.35 crores, by the Company to Qualified Institutional Buyers ("QIBs") in terms of Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000, as amended, as opened vide the Committee Authorisation dated August 28, 2009 ("Issue"), on September 01, 2009 with immediate effect.
- Authorised to issue up to 27,732,900 Equity Shares of Rs 2 each at a price of Rs 132.46 per Equity Share (including a premium of Rs 130.46 per Equity Share), aggregating to Rs 367.35 crores (Rupees Three Hundred Sixty Seven Crores and Thirty Five Lakhs only)....
NSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Co. Ltd has informed the Exchange regarding a press release that: "Nagarjuna Construction Company Limited has secured two new orders aggregating Rs. 481 crores". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Company Ltd has informed BSE that the Company has secured two new orders aggregating Rs 481 crores....
NSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Co. Ltd has informed the Exchange regarding a press release that: "Nagarjuna Construction Company Limited has secured three new orders aggregating Rs. 311 crores". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Company Ltd has informed BSE that the Company has secured three new orders aggregating Rs. 311 crores. ...
Hold Nagarjuna Construction
Posted by : insight95in
Nagarjuna Construction
Hold Price: Rs 142
Target Price (Mar 10): Rs142
Annual Report Analysis……
BOT road projects take a backseat
In the annual report Nagarjuna Construction’s (NCC) management highlighted the negative impact of external factors on the business performance. The company abstained from bidding for BOT road projects given the land acquisition issues, aggressive bidding by competitors and challenges in financial closure. Given this, the company opted to focus on growing its other segments including buildings, water and environment and international projects, Incrementally, NCC is looking to improve its pre-qualifications for projects in the metals, power and mining segments, which it believes will be the next leg-up for the organisation.
Capex higher than expectation, to slow in FY10E
During FY09, NCC transferred assets of Rs1.9 bn to its 100% owned subsidiary in Oman for project execution. Adjusted for the same, NCC incurred gross block addition of Rs1.6 bn, a tad higher than the upper end of management’s guidance of Rs1-1.5 bn (See Exhibit 1). Management has indicated that in FY10E capex is expected to remain muted, reflecting the low tone of turnover growth of 15% YoY. Accordingly, we have factored in lower capex expectations of around Rs800 mn p.a. for the next couple of years.
Working capital cycle sees deterioration
NCC’s working capital cycle has been affected by the rise in debtor and inventory days (See Exhibit 3). In the wake of the global liquidity crunch, higher exposure to Middle East and private sector capex related construction contracts i.e. around 35% of the company’s order book is likely to have resulted in delayed payments. Going forward, we have assumed stabilization of the working capital cycle v/s further deterioration, as the company steps up efforts towards recovery from debtors and execution. NCC’s contractee advances reduced to 11% of sales v/s 13% in FY08, given which we have maintained our lower assumptions of 11% levels in FY10E and 10% in FY11E
Corporate guarantees rise sharply
During FY09 NCC has seen a rise in investments and loans and advances to its subsidiaries (See Exhibit 5). Of the overall outflow, BOT projects accounted for around 65%, while the balance was towards the real estate subsidiaries. Incremental investment over the next 3-4 years is anticipated to be around Rs10 bn, and will primarily comprise of investments in NCC’s BOT subsidiaries. Management has indicated that given the slowdown in the real estate space, no fresh investment will be made by the company in that area. While the financial support extended to subsidiaries is in-line with NCC’s management guidance, corporate guarantees has seen a sharp rise. The notes to accounts mentions NCC’s corporate guarantees given to banks/financial institutions for financial assistance extended to subsidiaries, associates and joint ventures have risen nearly 4-fold from Rs4.6 bn to Rs16.7 bn. Management is confident of subsidiaries meeting their interest and principal payment obligations through their cash flows. However, it must be noted in case of any defaults, NCC’s financials will be impacted.
Maintain Hold
Currently, we are maintaining our core construction estimates for NCC for FY10E and FY11E, which we will revisit in the event the company completes its near-term fund raising plans. Given our expectation of the company’s stock price stabilizing at current levels, we maintain our Hold recommendation, but believe one should look to reduce positions in case of an upward move.
For more details Contact : 9822226867...
Buy Nagarjuna const.
Posted by : tara23this is another good stock in the infrastructure sector......
Buy Nagarjuna const.
Posted by : rajkishore420This is a super stock. It must be on your kitty.This stock has covered 24 rupees in 3 trading sessions. Tomorrow it may break 150. Once it closes above 159, it can go to 180. By December 2009, it may cross 225. ...
Short term target Rs. 175.
Posted by : GuestBuy Nagarjuna Construction @ current levels for a gain of 20-25% in a month....
NSE Announcements on Nagarjuna Const
Posted by : MMB MessengerNagarjuna Construction Co. Ltd has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the quarter ended June 30,2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
I would like to inform that the dividend of
FY09 @ Rs 1.10 per scrip got credited to my account yesterday....
