Suzlon Energy has posted its second quarter results and the company has posted a net profit of Rs 398 crore for the quarter ending September 30,2007 when compared to Rs 20.03 crore in the last quarter of previous year.
The company’s total income stood at Rs 3641 crore for the quarter ended September 30, 2007 when compared to Rs 1944.6 crore for the same quarter in the previous year.
Suzlon Energy in the previous quarter came up with disappointing numbers but this quarter the company has posted good results and the order book of the company also stands very will.
Suzlon Energy’s Order Book stands at Rs 16,328.04 crore and the company has projected firm numbers for the coming quarter.
The stock price of Suzlon Energy closed at Rs 1741.06 up 9.84% on the BSE based on the Good Results they have posted.
If you are worrying about a possible capital flight from Indian stocks because of US sub prime mortgage problems, here’s some good news. Japanese investors will soon be able to buy Indian shares through the Tokyo stock exchange reports CNBC-TV18.
It’s Tokyo’s business hot spot and known better for the seamless manner in which business blends with leisure. Welcome to Ginza district, which is home to Japanese financial giants - Daiwa Securities, Shinko Investment Trust, Shinsei Bank, and Nomura. Institutions that have invested over 10 billion dollars in India funds over the past 2 years. Officials here say India dedicated funds have been gulped down on the Tokyo stock exchange as fast as sushi
“Japanese companies have been setting up investment trusts for investing in Indian securities and equities and I have heard that they get sold out in 40 minutes, and the interest is definitely there from our side,” says Tohitsugu Shimizu, Senior Executive Officer, Tokyo Stock Exchange.
That ‘interest’ experts explain, means that another USD 10 billion is likely to flow to India from Japan over the next 2 years.
The Japanese have USD 120 billion of household savings, and retail and institutional clients are looking to diversify their investment portfolio, and therefore the Indian stock market is definitely blinking on their radar.
Japanese investors continue to demand more information about Indian companies and so work is in progress. The National stock exchange and the TSE are working out modailities to get Indian companies listed in Tokyo. Indian blue chips will be able to list here by early next year. That’s not all. The TSE and the NSE are working to launch Indian equity products like ETFs & Derivatives catering to Japanese investors.