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Gujarat NRE Coke Ltd has posted a net profit after tax of Rs 26.68 crore for the third quarter ended December 31, 2009 against Rs 13.26 for the quarter ended December 31, 2008. Total income has decreased from Rs 439.32 crore for the quarter ended December 31, 2008 to Rs 321.68 crore for the quarter ended December 31, 2009.

Gujarat NRE Coke Ltd has informed the BSE that the board of directors of the company at its meeting held on September 19 has decided to issue "B" Equity Shares of Rs. 10 each (shares with differential voting rights) carrying lower voting rights i.e. 1 voting right carried by every 100 "B" Equity Shares as compared to 1 voting right carried by each equity share of the company as bonus shares in the ratio of 1"B" equity share of Rs. 10 each for every ten existing equity shares of Rs. 10 each of the company on a record date to be fixed by the Board subject to the approval of the shareholders. The company informed the BSE that a meeting of the Board of Directors of the company will be held on September 24 to consider issue of Securities (including Foreign Currency Convertible Bonds) for an amount not exceeding $60 million (Rs. 300 crore) also to issue 2.50 crore convertible warrants to promoters /promoter group companies.

Gujarat NRE Coke, a leading coking coal producer, on Monday said its net profit declined by 96.14 per cent at Rs 3.64 crore for the quarter ended June 30, 2009, over the same period last year. The company had a net profit of Rs 94.40 crore in the same quarter ended June 2008, coking coal producer said in a filing to the Bombay Stock Exchange. Total income declined to Rs 310.04 crore in the latest quarter, against Rs 377.54 crore in the same period previous fiscal.

Gujarat NRE Coke declared its FY09 and fourth quarter results. The company's FY09 consolidated net sales were up at Rs 1,522.6 crore versus Rs 887 crore. Its FY09 consolidated profit after tax (PAT) was down at Rs 90.76 crore versus Rs 127.32 crore. The company's Q4 net sales were slumped to Rs 214.58 crore versus Rs 380.6 crore on year-on-year (YoY) basis. In Q4, the company registered a net loss of Rs 103 crore versus a profit of Rs 64 crore on YoY basis.

Mohindar Rahul Mohindar of Viratechindia is of the view that one can buy Gujarat NRE Coke at Rs 140-145. Mohindar told CNBC-TV18, "Gujarat NRE Coke is likely to be an outperformer on a medium to long-term basis with a minimum time horizon of about six-months. I would look at a price target of Rs 200+ on this. One could clearly buy the stock in the Rs 140-145 zone. Strong long-term support and stoploss is seen at about Rs 126 and clearly if one were a shorter-term trader as well, one would see an outperformance even on the short-term. So one could look at the stock from all the different timeframes. One is fairly bullish on this counter.”

Gujarat NRE Coke scrip buzzing: Hype or substance?( Source : CNBC-TV18 22, Moneycontrol.com 21st Feb 2008) Gujarat NRE Coke has broken its 52-week high yesterday. So, how are the industry fundamentals and trading pattern stacking up for the stock? Around the same time last year, Gujarat NRE Coke was trading at around the Rs 30 mark. In the latter half of 2007, it crossed the Rs 100 mark. Yesterday, it crossed the Rs 150 mark. The first leg of the run-up from Rs 30 to almost Rs 100 was because of the P/E valuation of its assets. The current run-up from Rs 100-150 is because of P/E valuations of its contract orders. Most orders are taken on spot prices, which are pretty high at around USD 450 per tonne, whereas the contract prices are around the range USD 200-250. So, investors are expecting that by March, contracts will be made depending on spot prices, which should give a fillip to the company’s bottomline. That is the reason why the stock is making such a run. The financial performanc...

Gujarat NRE completes acquisition of Australian mine (The Hindu Business Line 24th Dec 2007)Gujarat NRE Coke on Monday said that it has completed the acquisition of the Australia-based Elouera mine from BHP Billiton, a part of the Australia-based Illawarra Coal Business for an undisclosed amount. The acquisition was made by Gujarat NRE Resources NL (Gujarat), the Australian flagship firm of the Gujarat NRE Coke group, the producer of metallurgical coke informed the BSE. The coal lease and associated licences, including the mine, would be transfer red along with associated land holdings and the responsibility for rehabilitation and closure of the mine once operations are complete. Post-transfer, the mine would be re-christened NRE Wongawilli, the company said, adding that the acquisition would gi ve Gujarat NRE group ready infrastructure, including mining equipment and railway access to Port Kembla.

Gujarat NRE may get 70,000 carbon credits from new windmills (Business Standard 4th Dec 2004) Gujarat NRE Coke Limited (GNCL), which recently announced an investment of Rs 175 crore to set up 20 windmills of 1500kw each at Kutch, is expecting to generate around 70,000 carbon credits from them. This will be in addition to the 55,000 carbon credits it expects to receive from its existing 25Mw wind mill in Kutch, which is undergoing the certification process. The company is developing a Clean Development Mechanism (CDM) project for the proposed 20 windmills. Gujarat NRE Coke soars 8% on Rs 175 cr windmill expansion (The Economic Times 3rd Dec 2007) The shares of Gujarat NRE Coke soared 8 per cent early Monday, after announcing an investment of Rs 175 crore on 20 windmills of 1,500 kW each. This is in addition to the 27.5 MW of clean power the company already has in Gujarat and being set up in Kutch. These windmills will go into generation in a phased manner, 10 becoming operational by M...