Satyam's Q1 FY09 PAT up 17.3%
Satyam has announced its Q1 FY09 results. It's net profit was up 17.3% at Rs 548 crore versus Rs 467 crore (QoQ). The net sales was up 8.5% at Rs 2,620.8 crore versus Rs 2,416 crore (QoQ).
JP Associates Q1 net profit at Rs 127 cr
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Wipro's Q1 FY09 PAT up 4.2% (QoQ)
Wipro has announced its Q1 FY09 results (Indian GAAP). Consolidated net sales were up 5% at Rs 5,981.1 crore versus Rs 5,691.9 crore (QoQ). Its consolidated net profit was up 4.2% at Rs 907.8 crore versus Rs 871.6 crore (QoQ).
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Jaiprakash Associates has announced its first quarter numbers. Its net profit declined at Rs 127 crore for the quarter ended June 2008 as against Rs 140 crore.
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Cipla Q1 net profit at Rs 140 cr
Cipla has announced its first quarter consolidated numbers. It has reported net profit of Rs 140 crore for the quarter ended June 2008 as against Rs 119.76 crore in same period of last year.
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Sona Koyo Q1 FY09 net loss at Rs 1.6cr
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Chennai Petroleum Corp Q1 net profit at Rs 703.27 cr
Chennai Petroleum Corporation has declared its results for the quarter ended June 2008 (Q1). The company's net profit was at Rs 703.27 crore versus Rs 323 crore.
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Guj NRE Coke Q1 FY09 PAT at Rs 94.4 cr
Guj NRE Coke has announced it's Q1 FY09 results. The net profit was at Rs 94.4 crore versus Rs 42.8 crore. It's net sales was at Rs 378 crore versus Rs 149 crore.
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Ultratech Cement Q1 net profit at Rs 265 cr
Ultratech Cement has announced its first quarter numbers. It has posted net profit of Rs 265 crore for the quarter ended June 2008 as against Rs 259.4 crore in same period of last year.
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Allahabad Bank Q1 net profit at Rs 93.4 cr
Allahabad Bank has announced its first quarter numbers. Its net profit declined at Rs 93.4 crore as against Rs 200.4 crore in same period of last year.
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KPIT Cummins Q1 PAT at Rs 12.89 cr
KPIT Cummins Infosystems has declared its results for the quarter ended June 2008 (Q1). The company's Q1 PAT was at Rs 12.89 crore versus Rs 12.68 crore on YoY basis.
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IDFC Q1 net profit at Rs 204 cr
IDFC has declared its first quarter numbers for FY09. Its net profit went up at Rs 204 crore for the quarter ended June 2008 as against Rs 167 crore in same period of last year.
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GE Shipping Q1 net profit at Rs 387 cr
Great Eastern Shipping has announced its first quarter numbers. It has reported net profit of Rs 387 crore for the quarter ended June 2008 as against Rs 421 crore in same period of last year.
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Maxwell Ind Q1 PAT at Rs 2.03 cr
Maxwell Industries has announced its results for the quarter ended June 2008 (Q1). The company's PAT was down by 23% at Rs 2.03 crore on YoY basis.
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Sasken's Q1 FY09 PAT at Rs 13.7cr
Sasken Communication has announced its Q1 FY09 results. The revenue was at Rs 168 crore. It has net prfoit of Rs 13.7 crore versus Rs 7 crore (QoQ).
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Apollo Tyres Q1 net profit at Rs 48.6 cr
Apollo Tyres has declared its results for the quarter ended June 2008 (Q1). The company's Q1 net profit was at Rs 48.6 crore versus Rs 46.7 crore.
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Kirloskar Brothers Q1 net loss at Rs 4.48 cr
Kirloskar Brothers has announced its results for the quarter ended June 2008 (Q1). The company's Q1 net loss was at Rs 4.48 crore versus net profit of Rs 25.7 crore.
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Hikal Q1 net profit at Rs 10.7 cr
Rama Newsprint Q1 net profit at Rs 4.2 cr
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Polaris Q1 net profit at Rs 27.01 cr
Polaris Software Lab has declared its first quarter results. The company's Q1 net profit at Rs 27.01 crore versus Rs 21.45 crore, QoQ.
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Allahabad Bank net profit declines 53.41% in the June 2008 quarter
Net profit of Allahabad Bank declined 53.41% to Rs 93.36 crore in the quarter ended June 2008 as against Rs 200.40 crore during the previous quarter ended June 2007. Total operating income rose 20.28% to Rs 1732.60 crore in the quarter ended June 2008 as against Rs 1440.46 crore during the previous quarter ended June 2007.
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GTL Infrastructure reports net loss of Rs 3.19 crore in the June 2008 quarter
Can Fin Homes net profit rises 61.08% in the June 2008 quarter
Ponni Sugars Erode reports net loss of Rs 1.03 crore in the June 2008 quarter
Zuari Industries net profit rises 926.32% in the June 2008 quarter
Shree Cement net profit declines 5.14% in the June 2008 quarter
Sical Logistics reports net loss of Rs 5.01 crore in the June 2008 quarter
ETC Networks reports net profit of Rs 1.98 crore in the June 2008 quarter
I G Petrochemicals net profit declines 49.85% in the June 2008 quarter
Source: CapitalMarket.com, Indiaearnings.com
18 July 2008
Market rejoices host of good news; Sensex up 4%
Market rejoices host of good news; Sensex up 4%
Investors had enough reasons to turn bullish on Friday and build on the gains of previous session. They not only covered short positions in interest sensitive sectors, but made fresh purchases in select blue chips.
After market hours on Thursday, government data showed India’s inflation for the week ended July 5 had risen to 11.91 per cent, higher from previous week's 11.89 per cent. The figure came as a surprise for the market which was expecting it around 12 per cent. Add to this, a statement from the Department of Economic Affairs that inflation had ‘stabilised’ was morale booster.
Mood in US financial market, which has been under pressure due to credit crisis, turned positive after lender JP Morgan Chase announced better than expected results.
US stocks rallied overnight also as oil prices dropped sharply. The Dow Jones Industrial Average surged 1.85 per cent, Standard & Poor's 500 Index rose 1.20 per cent, and Nasdaq Composite Index climbed 1.20 per cent.
Steep fall in crude oil prices, a major concern for global economies, further strengthened sentiment. Oil hovered above $130 per barrel on Friday, after correcting more than 10 per cent in just three days from the record high of $147.27 on July 11. Rally in European markets also gave investors a chance to build on. FTSE 100 was higher by 1 per cent, DAX 30 up 1.79 per cent and CAC 40 added 0.79 per cent.
“Oil prices have come down and inflation figures were on expected lines. So far companies have announced good quarterly results. Many market participants have discounted outcome of vote of confidence and feel that the government will be able to scrape through. These all factors led to rally in the market,” said Rahul Sanghvi, institutional sales, Kantilal Chhaganlal Securities.
Bombay Stock Exchange’s Sensex closed at 13635.40, up 523.55 points or 3.99 per cent. It touched a high of 13684.27 and low of 13093.34. National Stock Exchange’s Nifty ended at 4092.25, up 3.67 per cent or 145.05 points. The broader index touched a high of 4,110.55 and low of 3,926.30.
“Selling by FIIs has reduced a bit and local mutual funds have initiated buying in blue chips like Larsen & Toubro, Tata Steel, Reliance Industries and Infosys Technologies. Valuations of most stocks look attractive at current levels,” Sanghvi added. Tier II and III stocks under performed the benchmarks as BSE Midcap Index closed 1.63 per cent high at 5239.39 and BSE Smallcap Index ended 1.08 per cent up 6,455.89.
Biggest Sensex gainers were ICICI Bank (12.46%), HDFC (10.13%), Jaiprakash Associates (8.86%), HDFC Bank (7.54%), Bharti Airtel (7.5%) and DLF (6.51%). Losers comprised Satyam Computer (-7.5%), Wipro (-4.42%), Ranbaxy Laboratories (3.72%), Tata Steel (3.38%) and Infosys Technologies (1.51%). Market breadth on BSE showed 1,608 advances and 985 declines, while on NSE, there were 849 gainers and 349 losers.
------------------------------------------------
Market consolidates, though Nifty July discount widens
Sensex surges 523 points on heavy buying
Citi gives buy rating on Colgate Palmolive
JM Finnacial starts coverage on ITC
Wall St closes mixed on Citigroup
IDFC net up 20 pc at Rs 216.71 cr
Jaiprakash Associates Q1 net up 9% at Rs 127 cr
Gujarat NRE Coke Q1 net at Rs 94.4 cr
India's M3 growth at 20.5% in two weeks to July 4
India's forex reserves at $308.520 billion on July 11
Investors had enough reasons to turn bullish on Friday and build on the gains of previous session. They not only covered short positions in interest sensitive sectors, but made fresh purchases in select blue chips.
After market hours on Thursday, government data showed India’s inflation for the week ended July 5 had risen to 11.91 per cent, higher from previous week's 11.89 per cent. The figure came as a surprise for the market which was expecting it around 12 per cent. Add to this, a statement from the Department of Economic Affairs that inflation had ‘stabilised’ was morale booster.
Mood in US financial market, which has been under pressure due to credit crisis, turned positive after lender JP Morgan Chase announced better than expected results.
US stocks rallied overnight also as oil prices dropped sharply. The Dow Jones Industrial Average surged 1.85 per cent, Standard & Poor's 500 Index rose 1.20 per cent, and Nasdaq Composite Index climbed 1.20 per cent.
Steep fall in crude oil prices, a major concern for global economies, further strengthened sentiment. Oil hovered above $130 per barrel on Friday, after correcting more than 10 per cent in just three days from the record high of $147.27 on July 11. Rally in European markets also gave investors a chance to build on. FTSE 100 was higher by 1 per cent, DAX 30 up 1.79 per cent and CAC 40 added 0.79 per cent.
“Oil prices have come down and inflation figures were on expected lines. So far companies have announced good quarterly results. Many market participants have discounted outcome of vote of confidence and feel that the government will be able to scrape through. These all factors led to rally in the market,” said Rahul Sanghvi, institutional sales, Kantilal Chhaganlal Securities.
Bombay Stock Exchange’s Sensex closed at 13635.40, up 523.55 points or 3.99 per cent. It touched a high of 13684.27 and low of 13093.34. National Stock Exchange’s Nifty ended at 4092.25, up 3.67 per cent or 145.05 points. The broader index touched a high of 4,110.55 and low of 3,926.30.
“Selling by FIIs has reduced a bit and local mutual funds have initiated buying in blue chips like Larsen & Toubro, Tata Steel, Reliance Industries and Infosys Technologies. Valuations of most stocks look attractive at current levels,” Sanghvi added. Tier II and III stocks under performed the benchmarks as BSE Midcap Index closed 1.63 per cent high at 5239.39 and BSE Smallcap Index ended 1.08 per cent up 6,455.89.
Biggest Sensex gainers were ICICI Bank (12.46%), HDFC (10.13%), Jaiprakash Associates (8.86%), HDFC Bank (7.54%), Bharti Airtel (7.5%) and DLF (6.51%). Losers comprised Satyam Computer (-7.5%), Wipro (-4.42%), Ranbaxy Laboratories (3.72%), Tata Steel (3.38%) and Infosys Technologies (1.51%). Market breadth on BSE showed 1,608 advances and 985 declines, while on NSE, there were 849 gainers and 349 losers.
------------------------------------------------
Market consolidates, though Nifty July discount widens
Sensex surges 523 points on heavy buying
Citi gives buy rating on Colgate Palmolive
JM Finnacial starts coverage on ITC
Wall St closes mixed on Citigroup
IDFC net up 20 pc at Rs 216.71 cr
Jaiprakash Associates Q1 net up 9% at Rs 127 cr
Gujarat NRE Coke Q1 net at Rs 94.4 cr
India's M3 growth at 20.5% in two weeks to July 4
India's forex reserves at $308.520 billion on July 11
MF AUM could account for 20% of GDP in 5 yrs
Oil Below $130, US stocks end higher
US stocks end higher on oil price fall
Wall Street shot higher on Thursday, extending its rally into a second session as tumbling energy prices bolstered an already upbeat mood that followed stronger-than-expected quarterly reports from big names like JPMorgan Chase and United Technologies. The Dow Jones industrial average rose more than 200 points, bringing their two-day advance to more than 480. Investors got a double dose of good news after weeks of angst about the economy. Light, sweet crude fell $5.31 to settle at $129.29 a barrel; oil has dropped more than $15 in just the past three sessions. And early on Thursday, three components of the Dow industrials, JPMorgan Chase & Co, United Technologies Corp and Coca-Cola Co, issued comments that generally indicated that their businesses are holding up despite sometimes difficult economic conditions. The reports let investors put aside some of their worst fears about the economy. Still, Wall Street has had some up periods in the past few months as optimism grew, only to fall back into a downturn as worries about the financial sector and the economy have welled back up.
"The sentiment has just been so negative that even a whiff of positive news is driving the markets," said Kevin Dorwin, principal at wealth management firm Bingham, Osborn & Scarborough in San Francisco. "Oil the key factor right now because inflation has been on the top of investors' minds and a reduction in the price of oil signals that perhaps inflation will not get out of hand. That's very positive for both the stock and bond markets." Beyond oil, natural gas prices also fell sharply Thursday after the Energy Department said domestic stockpiles rose last week, signaling a drop in demand. While levels remain below those of recent years natural gas fell 86.1 cents to settle at $10.537 per 1,000 cubic feet. A sustained drop in energy costs would be welcome news for nearly all parts of the economy. Consumers have been hard-pressed by higher fuel and food costs. Wall Street is worried they will pare their spending on discretionary items to make room in their budgets for the higher-priced necessities.
A pullback could be troublesome as consumer spending accounts for more than two-thirds of US economic activity. But the declines in energy and profit reports from marquee names left investors in an acquisitive mood again Thursday. The Dow rose 207.38, or 1.85 percent, to 11,446.66. The Dow on Wednesday surged 276 points after oil fell and Wells Fargo & Co. posted better-than-expected earnings. The 4.4 percent advance over two days was the Dow's best two-day percentage gain since October 2002 and the point increase gave the blue chips their best back-to-back point gain since late November last year. Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 14.96, or 1.20 percent, to 1,260.32, and the Nasdaq composite index rose 27.45, or 1.20 percent, to 2,312.30. Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where volume came to 1.96 billion shares compared with 1.73 billion shares traded Wednesday. Bond prices showed steep declines as investors turned away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 4.01 percent from 3.94 percent late on Wednesday. The dollar was mixed against other major currencies, while gold prices rose. Continued...Next >>
----------------------------------
Dow Logs Best 2-Day Gain Since 2002
Oil Prices Settle Below $130 in Volatile Trading
Microsoft's $4.3 Billion Profit Falls Short; Shares Slide
Google Earnings Miss Expectations; Shares Drop
IBM Profit Rises 22%, Topping Expectations
Source: CNBC, ET
Index Value: 11,446.66
Change: + 207.38 (1.85%)
Prev Close: 11,239.28
Day's Range: 11209.56 - 11446.66
52wk Range: 10,732.00 - 14,280.00
Change: + 207.38 (1.85%)
Prev Close: 11,239.28
Day's Range: 11209.56 - 11446.66
52wk Range: 10,732.00 - 14,280.00
Wall Street shot higher on Thursday, extending its rally into a second session as tumbling energy prices bolstered an already upbeat mood that followed stronger-than-expected quarterly reports from big names like JPMorgan Chase and United Technologies. The Dow Jones industrial average rose more than 200 points, bringing their two-day advance to more than 480. Investors got a double dose of good news after weeks of angst about the economy. Light, sweet crude fell $5.31 to settle at $129.29 a barrel; oil has dropped more than $15 in just the past three sessions. And early on Thursday, three components of the Dow industrials, JPMorgan Chase & Co, United Technologies Corp and Coca-Cola Co, issued comments that generally indicated that their businesses are holding up despite sometimes difficult economic conditions. The reports let investors put aside some of their worst fears about the economy. Still, Wall Street has had some up periods in the past few months as optimism grew, only to fall back into a downturn as worries about the financial sector and the economy have welled back up.
"The sentiment has just been so negative that even a whiff of positive news is driving the markets," said Kevin Dorwin, principal at wealth management firm Bingham, Osborn & Scarborough in San Francisco. "Oil the key factor right now because inflation has been on the top of investors' minds and a reduction in the price of oil signals that perhaps inflation will not get out of hand. That's very positive for both the stock and bond markets." Beyond oil, natural gas prices also fell sharply Thursday after the Energy Department said domestic stockpiles rose last week, signaling a drop in demand. While levels remain below those of recent years natural gas fell 86.1 cents to settle at $10.537 per 1,000 cubic feet. A sustained drop in energy costs would be welcome news for nearly all parts of the economy. Consumers have been hard-pressed by higher fuel and food costs. Wall Street is worried they will pare their spending on discretionary items to make room in their budgets for the higher-priced necessities.
A pullback could be troublesome as consumer spending accounts for more than two-thirds of US economic activity. But the declines in energy and profit reports from marquee names left investors in an acquisitive mood again Thursday. The Dow rose 207.38, or 1.85 percent, to 11,446.66. The Dow on Wednesday surged 276 points after oil fell and Wells Fargo & Co. posted better-than-expected earnings. The 4.4 percent advance over two days was the Dow's best two-day percentage gain since October 2002 and the point increase gave the blue chips their best back-to-back point gain since late November last year. Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 14.96, or 1.20 percent, to 1,260.32, and the Nasdaq composite index rose 27.45, or 1.20 percent, to 2,312.30. Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where volume came to 1.96 billion shares compared with 1.73 billion shares traded Wednesday. Bond prices showed steep declines as investors turned away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 4.01 percent from 3.94 percent late on Wednesday. The dollar was mixed against other major currencies, while gold prices rose. Continued...Next >>
----------------------------------
Dow Logs Best 2-Day Gain Since 2002
Oil Prices Settle Below $130 in Volatile Trading
Microsoft's $4.3 Billion Profit Falls Short; Shares Slide
Google Earnings Miss Expectations; Shares Drop
IBM Profit Rises 22%, Topping Expectations
Source: CNBC, ET
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