ET, Myiris Stories

Economic Times

Market correction leads to sell-off
Harish Manwani of Unilever named top Asian business leader
Reliance Petro appoints Chevron's VP as director
Ranbaxy to spin off research unit in 2nd half
Tata Steel enters JV with Oman firm

L&T SCPL announces launch of integrated township
HCC bags Rs 375.38 cr from Indian Strategic Petroleum Reserves
Annual inflation seen at 3.55% on Jan 5
'Exports may rise to $150 billion in 2007-08'
EEPC export target intact at $30 bn

Bears show no respite; Sensex slumps 383 points
Indices fail to recover losses as RIL's nos disappoint
Reliance Power IPO subscribed 20.84 times
Rs 4,000 crore Cybercity project at Kochi
RBI takes forward route to control rising Re

Indian employees to get highest salary hike in 2008
RBI takes steps to control rising Re

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Myiris.com

Brokers` outlook: Market may open in red on Friday
Religare to enter in AMC biz in JV
Pyramid Saimira to raise USD 400 mn
Emco net rises 52.62% in Dec `07 qtr

Edelweiss plans to pump in Rs 4 bn in its financing arm
HT Media net rises 9.80% in Dec `07 qtr
NIIT enters into strategic alliance with ETS
Brigade Enterprises inks pact with Sheraton Hotels

Brigade Enterprises inks pact with Sheraton Hotels
Steel Strips bags first export order
Modern India fixes record date for stock split
Sterlite Energy`s IPO to hit markets soon

Ispat may supply steel for `Nano`


Source: Myiris.com, Economic Times. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: HCL Tech, Orchid Chem, Godrej Cons, KPIT etc

HCL Tech Q2 net profit at Rs 266.9 cr view table
17th-Jan-2008

HCL Technologies has announced its second quarter numbers. It has posted standalone net profit at Rs 266.9 crore for the quarter ended December 2007 as against Rs 264.2 crore in previous quarter. Standalone net sales increased to Rs 1,129 crore from Rs

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Orchid Chem Q3 net profit up at Rs 54.12 cr view table
17th-Jan-2008
Orchid Chemicals has announced third quarter numbers. It has posted standalone net profit of Rs 54.12 crore for the quarter ended December 2007 as against Rs 28.32 crore in same period of last year.

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Godrej Cons Q3 net profit up at Rs 41.5 cr view table
17th-Jan-2008

Godrej Consumer has announced its Q3 FY08 result. The company in Q3 has reported net profit of Rs 41.5 crore versus Rs 31 crore on YoY basis. Its total income during the Q3 was at Rs 231 crore.
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Godrej Consumer Q3 net profit up 13%; share up 2.55%
IDBI Q3 net profit jumps 39%
HCL Technologies Q2 net profit growth flat
Biocon Oct-Dec net profit up 500% YoY
Orchid Chemicals Q3 net profit jumps 91%
ITC shares up 5% ahead of Q3 earnings; BSE FMCG up 3%
Reliance Energy Q3 net profit up 50%
Ranbaxy Labs Q4 net profit down 65.2%
RNRL Q3 net profit up over 127 per cent

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Biocon Q3 net jumps 6 times on one-time gain

Orchid Chemicals Q3 net up 91% (Update)
Orchid Chemicals & Pharmaceuticals announced a 91.07% rise in net profit after tax of Rs 541.173 million for the quarter ended December 2007 as compared to Rs 283.235 million for the quarter ended December 2006. Total Income has increased 39.33% to Rs 3,329.905 million for the quarter ended December 2007 from Rs 2,389.969 million for the quarter ended December 2006.The diluted earnings per share (EPS) of the company stood at Rs 5.51 in the quarter ended December 2007

VST Industries net rises 51.57% in Dec`07 qtr
VST Industries disclosed a phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 51.57% rise in profit to Rs 168.10 million from Rs 110.90 million in the quarter ended December 2006.Net sales for the quarter rose 14.44% to Rs 924.70 million compared with Rs 808 million in the corresponding quarter, a year ago.

S Kumars Nationwide net rises 72.24% in Dec `07 qtr
S Kumars Nationwide has disclosed a phenomenal jump in net profits for the quarter ended in December 2007. During the quarter, the company experienced a 72.24% rise in profits to Rs 572 million from Rs 332.10 million in the quarter ended December 2006.Net sales for the quarter rose 44.16% to Rs 4,530.70 million compared with Rs 3,142.90 million in the corresponding quarter, a year ago.

Hikal net rises 62.63% in Dec `07 qtr
Hikal disclosed a phenomenal jump in net profit for the quarter ended December 2007. During the quarter, the company experienced a 62.63% rise in profit to Rs 148 million from Rs 91 million in the quarter ended December 2006.Net sales for the quarter rose 54.03% to Rs 858 million, compared with Rs 557million in the corresponding quarter, a year ago.

Jaybharat Textiles Q3 net slips 42.62% on lower margins

KPIT Cummins Q3 net climbs 23.34%
KPIT Cummins Infosystems, a provider of software services and information technology-enabled outsourcing services, announced today a growth of 23.34% in earnings in the quarter ended Dec. 31, 2007, to Rs 171.17 million compared with Rs 138.78 million in the prior year period. The earnings per share (EPS) for the quarter slipped 76.82% to Rs 2.16 compared with Rs 9.32 in the previous year period.



Results Calender

Anant Raj Ind 18-Jan-08

Astral Poly Tec 18-Jan-08

Automotive Axle 18-Jan-08

AVT Natural 18-Jan-08

Balmer Lawrie 18-Jan-08

BASF 18-Jan-08

Cera Sanitary 18-Jan-08

Compulink 18-Jan-08

Everonn Systems 18-Jan-08

Greaves Cotton 18-Jan-08

Guj Alkali 18-Jan-08

HDFC 18-Jan-08

Hind Constr 18-Jan-08

IFCI 18-Jan-08

ITC 18-Jan-08

Kirloskar Oil 18-Jan-08

Mukta Arts 18-Jan-08

Nicholas Pirama 18-Jan-08

NIIT Tech 18-Jan-08

Orbit Corporati 18-Jan-08

PNB Gilts 18-Jan-08

Ponni Sugars(E) 18-Jan-08

Power Finance 18-Jan-08

Pratibha Ind 18-Jan-08

Rajvir Ind 18-Jan-08

Soma Textile 18-Jan-08

Sona Koyo Stee 18-Jan-08

SPEL Semiconduc 18-Jan-08

Tayo Rolls 18-Jan-08

Tinplate 18-Jan-08

Trent 18-Jan-08

Vimta Labs 18-Jan-08

Welspun India 18-Jan-08

Wipro 18-Jan-08

Wockhardt 18-Jan-08



Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Results: REL, RNRL, Biocon, Indiabulls, IDBI, Ranbaxy etc

Reliance Energy Q3 net profit up 50%
Rel Energy Q3 net profit up at Rs 301.6 cr
17th-Jan-2008

Reliance Energy announced its Q3 net profit. The company in Q3 reported standalone net profit of Rs 301.60 crore versus Rs 201.03 crore on YoY basis.

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Biocon Oct-Dec net profit up 500% YoY
Biocon Q3 cons net profit at Rs 291.83 cr view table
17th-Jan-2008

Biocon has announced its third quarter numbers. It has posted consolidated net profit of Rs 291.83 crore for the quarter ended December 2007 as against Rs 55.31 crore in same quarter of previous year. Other income is included in net profit.
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Indiabulls Financial Q3 consolidated net jump 80% (Update)
Indiabulls Fin Q3 net profit up at Rs 246.4 cr view table
17th-Jan-2008

Indiabulls Financial services announced its Q3 FY08 result. Before demerger, its Q3 FY08 consolidated net profit was up at Rs 246.4 crore versus Rs 111.8 crore on YoY basis. During the same quarters, its consolidated net sales were up at Rs 661.3 crore.

Indiabulls Financial Services announced today (Thursday) the consolidated profit after tax jumped 80.31% to Rs 1,639 million in Q3 of FY 08 from Rs 909 million in Q3 of FY 07 and consolidated total revenues went up 98.1% to Rs 4,535 million in Q3 of FY08 from Rs 2,289 million in Q3 of FY 07, considering the demerger of Indiabulls (Q, N,C,F)* Securities.On sequential basis, the consolidated profits after tax up 47% to Rs 1,639 million in Q3 FY 08 from Rs 1,115 million in Q2 FY 08 and consolidated total revenues climbed 29.39% to Rs 4,535 million in Q3 FY 08 from Rs 3,505 million in Q2 FY 08.

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IDBI Q3 net profit jumps 39%
IDBI Q3 standalone net profit up at Rs 175.84 cr view table
17th-Jan-2008

IDBI has declared its third quarter numbers. It has posted standalone net profit of Rs 175.84 crore for the quarter ended December 2007 as against Rs 126.79 crore in same period of previous year.
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RNRL Q3 net profit up over 127 per cent
RNRL Q3 net profit up at Rs 23.79 cr view table
17th-Jan-2008

RNRL has declared its third quarter results. Its Q3 standalone net profit stood at Rs 23.79 crore versus Rs 10.45 crore, YoY.
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Ranbaxy Q4 net slips 65.20% on lower margins
India`s largest pharmaceutical company, Ranbaxy Laboratories announced today the substantial rise of 53% in net profit to Rs 7,901 million in FY07, compared with previous year. Excluding foreign exchange gains / losses on translation and extraordinary items, net profit for the year was at Rs 6,069 million, reflecting a rise of 15%, the company said. Earnings per share on a fully diluted basis were at Rs 15.30 in FY07, reflecting a rise of 16.17% over FY06. For the year, the company recorded sales of Rs 66,353 million, registering a growth of 9% over FY06.Speaking on the occasion, Malvinder Mohan Singh, CEO and MD, RanbaxyLaboratories, (Q, N,C,F)* said, ``The results for the year 2007 are per our expectations. This is on the back of strong growth in our emerging markets, a significant growth of business in Europe and a strong performance in our US branded business. We have also taken appropriate steps to structure the business for the future by forming alliances in several niche therapeutic areas, enhanced product visibility and brought in certainty of profit flow for the future. I believe the coming years will see Ranbaxy emerge stronger and better positioned to achieve its goal of becoming a top five global generics company.``Q4 FY07Ranbaxy recorded a marginal rise of 1.02% in consolidated earnings in the quarter ended December 2007, to Rs 1,878 million compared with Rs 1,859 million in the prior year period. The consolidated total income for the quarter climbed 7.40% to Rs 19,110 million. On standalone basis, Ranbaxy posted a substantial fall of 65.20% in earnings in the quarter ended Dec. 31, 2007, to Rs 484 million compared with Rs 1,390.70 million in the prior year period. The earnings per share (EPS) for the quarter climbed 77.21% to Re 0.85 compared with Rs 3.73 in prior year period.

Ranbaxy Q4 net profit up at Rs 301.60 cr
17th-Jan-2008
Ranbaxy has declared its fourth quarter results. Its standalone net sales at Rs 993.32 crore versus Rs 1,005.85 crore, YoY.




Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

RIL Q3 net profit jumps 162%, total income up 23%

RIL Q3 net profit jumps 162%, total income up 23%


Reliance Industries has posted a net profit of Rs 8,079 crore for the three months ended December 31, 2007, a jump of over 162 per cent from the profit after tax of Rs 3,081 crore reported in the corresponding quarter of 2006. Total income for October-December was Rs 34,831 crore, up 23 per cent from Rs 28,315 crore in the same quarter of last year. Indian Petrochemicals Corporation was amalgamated with Reliance Industries on Sep 5, 2007, with retrospective effect from Apr 1, 2006. Consequently, 6,01,40,560 equity shares of Rs 10 each were allotted to shareholders of IPCL on Oct 13, 2007.

In view thereof, figures for the quarter and nine months ended Dec 31, 2006 have been restated. Exceptional item represents gains arising out of transactions concerning Reliance Petroleum Ltd shares. The company has reserved issuance of 6,96,75,402 shares of Rs 10 each for offering to employees and its subsidiaries under Employees Stock Option Scheme. During 2006-07, the company granted 2,87,28,000 options to employees for subscribing to equivalent number of fully paid-up equity shares. During the period ended Dec 31, 2007, the company further granted 10,35,000 options as per the terms of the ESOS. The options would vest over a period of seven years from the date of grant.

Reliance Industries had revalued plant, equipment and buildings situated at Patalganga, Hazira, Naroda and Jamnagar in earlier years. Consequent to the revaluation, there is an additional charge for depreciation of Rs 1,332 crore for the nine months period and an equivalent amount has been withdrawn from Revaluation Reserve. This has no impact on the profit for the period. The company continued to adjust the foreign currency exchange differences on amounts borrowed for acquisition of fixed assets, to the carrying cost of fixed assets in compliance with Schedule VI to the Companies Act, 1956, which is at variance to the treatment prescribed in Accounting Standard (AS 11). Had the treatment as per AS 11 been followed, the net profit for nine months would have been higher by Rs 514 crore.

During the quarter Reliance Digital Retail Ltd, Reliance Brands Pvt Ltd, Reliance Wellness Ltd, Reliance Footprint Ltd, Reliance Integrated Agri Solutions Pvt Ltd, Reliance Trends Ltd, Reliance Lifestyle Holdings Pvt Ltd, Reliance Universal Ventures Pvt Ltd, Reliance Autozone Pvt Ltd, Strategic Manpower Solutions Pvt Ltd, Reliance Gems and Jewels Ltd, Delight Proteins Pvt Ltd, Reliance F&B Services Pvt Ltd, Reliance Agri Products Distribution Pvt Ltd, Reliance Leisures Pvt Ltd, Reliance Retail Securities and Broking Company Pvt Ltd, Reliance Home Store Pvt Ltd, Reliance Trade Services Centre Pvt Ltd, Reliance Food Processing Solutions Pvt Ltd, Reliance Supply Chain Solutions Pvt Ltd, Reliance Digital Media Pvt Ltd, Reliance Loyalty & Analytics Pvt Ltd, became subsidiaries of Reliance Industries.


RIL shares down 1.24% at Rs 3,060 post Q3
Reliance Q3 net zooms to Rs 8,079 crore
Refining margins at $15.4 per barrel

RIL Q3 GRM stood at USD 15.4 per barrel
Q3 Highlights:

Q3 FY08 result highlights:
RIL Q3 standalone net sales at Rs 34,590 cr Vs Rs 28,195 cr
RIL Q3 standalone net profit at Rs 3,882 cr Vs Rs 3,081 cr
RIL Q3 GRM at $15.4/bbl; OPM at 16.9%
Diluted EPS at Rs 26.70, excl exceptional income
Refining, marketing rev up 25% at Rs 26154 cr
Refining, marketing EBIT up 36% at Rs 2,614 cr
Refining margin at 10% Vs 9.2%
Petchem margins at 14% Vs 13.6%
Petchem rev down 3% at Rs 12,706 cr
Depreciation lower at Rs 3,467 cr Vs Rs 3,588 cr
GRM at $15.4/bbl Vs Singapore margin of $7.7; OPM at 16.9%


RIL Q3 GRM stood at USD 15.4 per barrel... Jan 17
RIL sees petchem EBIT margins at 13-15% ov... Jan 17
PAT from RIL’s core biz below expectation:... Jan 17
Reliance Industries Q3 net jumps 3 times (Update)



Source: Myiris.com, Economic Times, Indiaearnings.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.

Sensex tumbles again, loses 167 pts at close

Sensex tumbles again, loses 167 pts at close
India's Sensex Falls for Fourth Day;
Sensex ends down over 160pts, RIL drops
Sensex sheds 167 points on weak global

NSE 5913.20 -22.55
BSE 19700.82 -167.29



With global markets not making any significant recovery from recent losses, the bears stormed the major Indian bourses once again and despite facing some strong resistance from their rivals in afternoon trade, stayed put and went on a rampage during the closing minutes of the session today.

So strong was the sell-off in certain heavyweights that the Sensex, which had bounced back to 20,026.12 around mid-afternoon, went crashing down to a low 19,643.76 with not much time to go for the closing bell. Notwithstanding a minor recovery from that level, the Sensex, recording its fourth straight loss, ended the session at 19,700.82, down 167.29 points or 0.84% from its previous closing mark. With today's loss, the Sensex has lost over 1100 points in four sessions this week.

The Nifty, which hit a high of 6013.15 in intra-day trades, closed with a loss of 0.38% or 22.55 points at 5913.20. It hit a low of 5880.30 today.

Ambuja Cements (down 3.85%), DLF (down 3.7%), ICICI Bank (down 3.45%), Reliance Industries (down 3.3%), Ranbaxy Laboratories (down 2.85%), Reliance Energy (down 2.35%) and Tata Consultancy Services (down 2.3%) declined sharply.

Satyam Computer Services ended nearly 2% down at Rs 372.45. HDFC Bank eased by 1.7%. Tata Motors (down 1.65%), NTPC (down 1.2%) and Tata Steel (down 1%) also closed with sharp losses.

Reliance Communications, Infosys Technologies, ONGC, Hindalco and State Bank of India found support at lower levels - they even enjoyed a bright spell in the positive territory - and closed with small losses.

FMCG stocks ITC (up nearly 4%) and Hindustan Unilever (1.1%) had a good outing today. Grasim Industries moved up by over 3% to Rs 3360. Maruti Suzuki, which touched a high of Rs 894 in intra-day trades, closed with a handsome gain of 2.8% at Rs 867.30.

Larsen & Toubro and BHEL, the capital goods majors, surged 2.2% and 1.75% respectively. Cipla notched up a sharp gain of 1.85%. Mahindra & Mahindra moved up by 1.75% to Rs 751.85. Wipro, Bharti Airtel, ACC, Bajaj Auto and HDFC posted modest gains.

Nifty stock Nalco shot up by 7.55% today. Siemens gained a little over 4%. Punjab National Bank, Tata Power, Cairn India, GAIL India, Unitech and Sterlite Industries finished with sharp gains.

Bombay Dyeing, Colgate Palmolive, HDIL, Gujarat Minerals, National Fertilizers, Rashtriya Chemicals & Fertilizers, Welspun Gujarat, HMT, LIC Housing Finance, Bharat Forge, J&K Bank, Hexaware, Mangalore Refineries & Petrochemicals, BASF India, D-Link India, Indo Rama Synthetics and Raymond ended with strong gains.

Spice Telecom, Lanco Infratech, IDBI, Sun TV Network, Indian Bank, Alstom Projects, HCL Infosys, Container Corporation, CESC, MphasiS and United Phosphorus were among the prominent losers from BSE 'A' Group.

Among midcaps, sugar stocks Balrampur Chini and Bajaj Hindustan vaulted by 11.2% and 9.9% respectively. GTL Infrastructure, Kesoram Industries, Shiv Vani OIl, Adlabs Films, Zee News, Akruti City, Info Edge, Madras Aluminium, Shree Precoated Steels, Essar Shipping and Triveni Engineering also closed with sharp gains.

Though the benchmark indices closed with sharp losses, the market breadth was quite positive today. Out of 2877 stocks traded on BSE, 2003 stocks finished with gains. 833 stocks ended weak and 41 stocks ended at their previous closing levels.

Other Sify stories:

Reliance Energy Q3 net up 50%
IDBI Q3 net up 38.7%
Orchid Chemicals Q3 net up 91%
'Indians will get highest salary hike'
L&T plans Rs 1,200-cr township in Chennai

HT Media Oct-Dec net up on ad revenue growth
HCL Technologies Q2 net up 0.30% at Rs 266.95 cr
Ranbaxy Laboratories Q3 net down 65.2% at Rs 48.4 cr
Reliance Industries Q3 net up 162% at Rs 8079 cr
Reliance Industries Q3 refining margins at $15.4/bbl
Finance Minister web site launched



Source: www.sify.com. We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.