ADHUNIK METALIKS-growing strong day by day

Scrip Code:532727Company Name:ADHUNIK MET

	May, 7 2007

Adhunik Metaliks - Updates

Adhunik Metaliks Ltd has informed BSE that the Company has commissioned its 17Mw Power Plant. The power will be generated by utilizing the waste heat of DRI (Sponge Iron) Plant. Further, The Government of Orissa has considered and declared the Company as a Public Utility Service Unit in Labor & Employment Department vide notification Dated April 11, 2007 under sub-clause (VI) of clause (n) of section 2 of the Industrial Dispute Act 1947 (14 of 1947). Henceforth all the relevant clauses of the said section will be applicable to this establishment, situated at village Chadrihariharpur in the district of Sundergarh, Orissa.

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SpiceJet to buy 10 Boeing planes for US$ 700 million

Mumbai: Delhi-based budget carrier SpiceJet will acquire 10 new Boeing
737 airplanes as a part of its fleet expansion programme. It will spend
between $650 million and $700 million for the purpose. The airline
would begin taking delivery of the airplanes from the 2008-end and
complete the same by 2011.

This low-fare airline would have 35 airplanes in its fleet
by the end of 2011. SpiceJet currently operates in 14 cities, including
Mumbai, Delhi, Kolkata, Chennai, Hyderabad and Bangalore, with 10
Boeing 737-800 aircraft.

“Boeing 737 can fly non-stop for five hours to West Asia and
other closer destinations. However, we have no plans to fly overseas at
present. We are not entitled to get rights as we have not yet completed
five years of operations,” said Siddhanta Sharma, managing director and
CEO of SpiceJet, when asked about its overseas foray.

The board of directors of SpiceJet had approved the acquisition proposal, the company informed Bombay Stock Exchange (BSE).

Asked about funding the acquisition, Sharma said, “We can
either buy or opt for sale and lease-back of these airplanes. We will
take a call just before the delivery schedules.” The airline had raised
$70 million in January by selling stock to the Tata group, Goldman
Sachs and BNP Paribas.

SpiceJet has posted a net loss of Rs 21.37 crore for the
quarter ended February 28, 2007, compared with a net profit of Rs 4.30
crore for the corresponding period last year.

Backed by other income, the total income from operations
grew 84 per cent at Rs 277.69 crore for the reporting quarter compared
with Rs 150.74 crore for the quarter ended February 28, 2006.

The scrip of SpiceJet fell marginally on the BSE to Rs 44.55 today against the previous day’s close of Rs 45.

SpiceJet competes with the country’s largest budget carriers such as Air Deccan, GoAir and IndiGo.

standing still when everything is falling

It was a great listing for MindTree Consulting. It begun the day with 47.5% premium over its offer price of Rs 425 per share and touched an intraday high of Rs 673.75 and low of Rs 576. Its low level was like a support because it did not break that despite market has fallen nearly 300 points during the day. Other issues slipped over 20% but this stock remained stable in intraday trade though some profit booking at Rs 600 level. It ended the day with 47% premium at Rs 625, with volumes of 1,25,94,176 shares.

The company managment said its 75% of revenues come from IT, 25% from R&D. They hope to see both business growing at same rates and put a next goal to achieve USD 1 billion in revenues.

Its Chennai SEZ is going to be operational by October 2007, they said.

MindTree is organised into two divisions – Information Technology Services and Research and Development Services. IT Services comprise IT strategic consulting, application development and maintenance, package implementation and product engineering services. The IT Services business unit offers such services with a strong focus on certain industries including manufacturing, travel and transportation, banking, financial services and insurance.