Bombay And Company
Sensex regains 18k level after 9-days as crude falls
MUMBAI: The BSE benchmark sensex added over 356 points to regain the 18,000-level after nine-days during intra-day trade today on heavy buying in blue-chips after a steep fall in crude prices and easing concerns on fuel prices hike.The Bombay Stock Exchange benchmark index climbed 356.08 points to 18,083.57 at 1145 hrs, with most oil company stocks rising.
The National Stock Exchange's broader Nifty index rose by 94 points to 5,414.
The trading sentiment improved after oil minister S Jaipal Reddy said his ministry has made no specific proposal on increasing auto and cooking fuel prices for consideration by the EGoM on fuel prices later today, easing concerns of more monetary tightening to curb inflation.
Crude oil prices dropped by 4.6% to $91.02 a barrel in New York yesterday.
The largest state-owned oil explorer, Oil and Natural Gas Corp, surged by 3.18%, the most in a month, to Rs 272.90, while Gas Authority of India gained 2.20% to Rs 446.50.
Bombay And Company - News
The Bombay Stock Exchange benchmark index climbed 356.08 points to 18083.57 at 1145 hrs, with most oil company stocks rising. The National Stock Exchange's broader Nifty index rose by 94 points to 5414. The trading sentiment improved after oil minister
According to a filing on the Bombay Stock Exchange (BSE), HIPL revoked a total of 3,46,12460 equity shares in three tranches on June 7, June 8 and June 10. The promoter group firm revoked 1,19,35331 shares each from IL&FS Trust Company and IDBI
The company challenged the order in the Bombay High Court, where the case is being heard. Nathan Andrews, executive vice president for business development at the Hindustan Construction Co. unit, said the project is compliant with almost all the
The Bombay Stock Exchange's Sensitive Index surged 513.19 points, or 2.9%, to close at a 10-day high of 18240.68, near the upper end of its 17804.94-18268.95 intra-day band. It was the biggest rally for the Sensex since March 1 and helped the benchmark
company's manufacturing plant situated at Kottayam in Kerala with effect from 5 am on June 22, 2011 on account of labour unrest in the factory has been lifted with effect from 7 am today," MRF said in a filing to the Bombay Stock Exchange (BSE).
Bombay Dyeing plans turnaround | Abort America
Mumbai: Bombay Dyeing and Manufacturing Co. Ltd, which has lost one third of its stock value this year, is scripting a three-pronged turnaround strategy—to reduce dependence on its real estate vertical for cash, tap the mass market for textiles, and reduce its debt by half in two-three years.
“The biggest issue for the group since 2008 was generating cash. This was partially set off by revenues earned from the real estate division,” Durgesh Mehta, joint managing director and chief financial officer at Bombay Dyeing, said in a recent interview .
“After addressing that, the immediate focus was to stop losing money in other verticals such as textiles and polyester staple fibre (PSF) manufacturing facility,” he said.
Bombay Dyeing returned to a profit of Rs18.42 crore in 2009-10 after posting a loss of Rs194.62 crore in the previous fiscal year, hit by the global financial slowdown. In fiscal 2011, its profit improved slightly to Rs21.39 crore.
In 2008, Bombay Dyeing’s real estate business contributed 30% to its total revenue; textiles brought in 20% and PSF, 50%. Mehta wants textiles to account for 30% of the company’s total revenue in the next two years, and to reduce real estate’s contribution to 20%.
“Textile business is going to be the main thrust,” said Mehta, who joined the company in 2008. “Earlier, Bombay Dyeing was perceived as top-end of the market, which has only 5% under organized home textile market. Now, we have decided that we have to be in the other side of spectrum to tap unorganized side of market. We are broadening our range to low-price segment.”
Experts are wary of the plan.
Sridhar Ramachandran, director at distress debt resolution advisory firm Brescon Corporate Advisors, said Bombay Dyeing, established in 1879 by the Wadia family, has failed to capitalize on its legacy in the textile industry.
“As long as Bombay Dyeing is restricting itself with retail and outsourcing key functions, it is tough for the company to achieve materialistic changes,” said Ramachandran, who has spent 21 years handling general, finance and turnaround management in textile industries across Asia and Africa.
The company has to “get back to basics and should enter into full-fledged textile cycle including fabric, weaving and spinning. More importantly, it should also get into technical textile vertical,” he said.
Arvind Singhal, chairman at retail consultancy Technopak Advisors Pvt. Ltd, said increasing focus on the textile business will be an “uphill task” for Bombay Dyeing because of competition, “though there is ample opportunities in the Indian textile sector”. Singhal said companies such as Alok Industries Ltd, Welspun Group and Trident Group have done well in the bed and bath linen segment, where Bombay Dyeing is strong.
Bombay And Company - Bookshelf
International Directory of Company Histories
Bollinger Shipyards, Inc., 61 The Bombay Company, Inc., 10; 71 (upd.) The Bon Marche\ Inc., 23 Bon Secours Health System, Inc., 24 The Bon-Ton Stores, Inc., ...The government of India, Being a digest of the statute law relating thereto. With historical instroduction and illustrative documents
Charter By a charter of 1677 the Company were empowered to granting coin money at Bombay to be called by the name of ' rupees, coinage0 pices, ...An act to confer certain powers on the Bombay Gas Company, Limited, and to enable government to confer similar powers on other companies registered and incorporated for, the purpose of manufacturing and supplying gas, as modified up to the 1st April 1910
Gazetteer of the Bombay Presidency
J. Granting the island of Bombay to the East j India Company. ... Encouraged by the grant of the island of Bombay the Company adopted a more ox- tensive ...Western medicine and public health in colonial Bombay, 1845-1895
Introduction The beginnings of modern Bombay city are traced to the seventeenth century, when the East India Company obtained Bombay from the British Crown ...Directory Information Directory
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