Northgate Technologies Ltd Stock Quotes and Charts
Northgate Technologies Limited has informed the Exchange that "(1) We<br>have received an approval from Government of India, Ministry of<br>Communication and IT, Department of Telecommunication vide its letter<br>No.10-83/06-BS-I, dated 14.01.2008 for ILD services. The License<br>Agreement will be signed after complying with the formalities within a<br>period of three months from the date of issue of the referred letter.<br>(2) Further to our letter dated 6 October 2007 in relation to the<br>re-organization of the Northgate group businesses, we presently expect<br>to incur an amount in the range of approximately INR 5.0 to 7.0 crores<br>with respect to the reorganization of the group companies. The<br>expenditure has been incurred for professional fees in relation to the<br>reorganization and is currently expected to be expensed in Q3 and Q4<br>of the financial year ended 31 March 2008. Other matters relating to<br>reorganization remain as disclosed in our letter of 6 October 2007".
what is the basis for this up movement...if u r tracking this stock,can u plz share ur views...
more than 85 % shares are holded by its promoters $ it has tie-uo wth yahoo, google etc. so it has very strnng base.
shares of northgate are at lowest, but it`s bookvalue & financial condition records say that it`s rate will sharply go up soon, <br>global crisis has been overcome & IT sector`s denand boom is about coming in IT sector.
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