Infosys consolidated net profit as per Indian GAAP rose 11.9% to Rs 1231 crore in Q3 December 2007 over Q2 September 2007. Sales rose 4% to Rs 4271 crore in Q3 December 2007 over Q2 September 2007.

Infosys has raised both earnings and revenue guidance for FY 2008. The company has forecast 18.6% growth in EPS in FY 2008 as per Indian GAAP at Rs 79.30. It has forecast a between 19.7% to 19.9% growth in revenue in FY 2008 as per Indian GAAP to between Rs 16627 crore to Rs 16657 crore.

As per US GAAP, the company has forecast 33.8% growth in consolidated earning per American depository share in FY 2008 at $1.98. The company has forecast a between 35% to 35.2% growth in revenue as per US GAAP in FY 2008 to between $4.17 billion to $4.18 billion.

Precision Pipes and Profiles Company will list on the stock exchanges today, 11 January 2008. The stock will be placed in the B1 group on BSE. The company had fixed the IPO price at the top end of the Rs 140-Rs 150 price band. At the price band of Rs 150, the PE multiple works out to 15.13, based on the year ended March 2007 EPS of Rs 9.91. The Precision Pipes and Profiles Company IPO had ended on 20 December 2007 with 10.35 times subscription. The issue received total bids for 5.54 crore shares as against 53.57 lakh shares on offer. The qualified institutional buyers (QIBs) category was subscribed 5.03 times, the non institutional investors category 8.58 times and the retail investors category 18.70 times.

Aries Agro will list on the stock exchanges on Friday, 11 January 2008. The stock will be placed in the B1 group on BSE. The company had fixed the IPO price at the top end of the Rs 120 - Rs 130 price band. At the IPO price of Rs 130, the PE multiple works out to 19.40, based on the year ended EPS of Rs 6.7. The Aries Agro IPO had closed on 19 December 2007 with 7.62 times subscription. The issue received bids for 3.42 crore shares as against of 45 lakh shares offered. The qualified institutional investors (QIB) portion was subscribed 0.88 times, the non-institutional investors segment 2.37 times and the retail portion 0.46 times.

Gruh Finance, Inca Finlease, Jaiprakash Hydro-Power, Sanwaria Agro Oils, and Tata Metaliks will unveil Q3 results today.

The department of telecommunications has resolved the issue over spectrum allocation and new telecom service licences by sticking to its first-come-first-serve policy. It has issued letters of intent to nine applicants, while rejecting the applications of three firms. Two applications have been put on hold.

According to DoTs latest decision, existing GSM operators like Idea Cellular, Vodafone-Essar and Aircel would be allocated spectrum first, followed by CDMA players entering GSM services like Reliance Communications, Tata Teleservices, Shyam Telelink and Himachal Futuristic Communications (HFCL) and then by new entrants.

BPCL reportedly plans raise around Rs 3000 crore in three to four months through an initial public offering in Bharat Oman Refineries.

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