NEW DELHI: State-run Steel Authority of India Ltd (SAIL) reported a 37 per cent fall in its net profit at Rs 1,486.68 crore during the fourth The company had a net profit of Rs 2,376.76 crore in the January-March quarter a year earlier, SAIL said in a filing to the Bombay Stock Exchange. Total income of the company fell to Rs 12,590.12 crore during the Q4 of FY'09 from Rs 13,856.95 crore in the corresponding quarter a year ago, it said. For the financial year ended March 31, 2009, the steel producer posted a net profit of Rs 6,174.81 crore, registering a fall of 18 per cent compared to Rs 7,536.78 crore in FY'08. However, total income of SAIL rose to Rs 46,110.75 crore during the 2008-09 fiscal from Rs 41,518.74 crore in FY'08. | |
Mahindra Q4 net up 89 pc; beats forecasts
MUMBAI: Mahindra & Mahindra Ltd, top utility vehicles and tractor maker, on Thursday beat expectations with near-doubling in quarterly
Mahindra, which aims to enter the US market with a pick-up truck and sport utility vehicle early next year, said net profit rose to Rs 418 crore ($87.6 million) in the fiscal fourth quarter ended March from Rs 221 crore a year ago. That compared with a forecast of Rs 197 crore in a poll. Net sales rose to Rs 3,619 crore from Rs 3,148 crore, and were also above a forecast of Rs 3,401 crore. Shares in Mahindra, valued at $3.6 billion, had risen 39.4 per cent in the March quarter while the main index rose 0.6 per cent. |
*********************************************
Nifty posts biggest percentage gain in F&O series ever
he benchmark indices ended the last day of May series on a positive note. This rally was led by shares of capital goods, metal, banking, oil & gas exploration and select power companies. Good results from L&T and M&M were also supportive for the markets.
This series was a magnificent series for the markets; in this series the Nifty posted the biggest percentage gain ever. Both the equity benchmarks surged 25% each in this series. Among the sectors, Realty, Metal, Bank and Capital Goods indices were the highest percentage gainers, went up 43.5%-68%.
| Index | April | May | Gain (%) |
| Realty | 3577.94 | 67.95 | |
| Metal | 10549.95 | 53.21 | |
| Smallcap | 5811.69 | 47.47 | |
| Capital Goods | 11448.72 | 44.76 | |
| Bankex | 8162.73 | 43.58 | |
| Midcap | 4935.56 | 40.46 | |
| Power | 2112.76 | 2824.23 | 33.67 |
| CNX Defty | 3151.35 | 31.21 | |
| Auto | 4458.66 | 27.45 | |
| Sensex | 14296.01 | 25.37 | |
| Nifty | 4337.1 | 24.85 | |
| Oil & Gas | 10085.87 | 24.02 | |
| Healthcare | 3483.16 | 13.53 | |
| IT | 2928.15 | 9.94 | |
| FMCG | 2091.42 | -0.17 |
In May series, Reliance Infrastructure, Kotak Mahindra Bank and India Infoline shot up over 80%. Reliance Capital, Ranbaxy Labs, Unitech, Indiabulls Real Estate and DLF gained 60-75%. Tata Steel, Hindalco, JSW Steel, SAIL, L&T, ICICI Bank, SBI and Suzlon went up 40-60%. However, Tata Communication was down around 10% and Cipla fell around 7%. ITC and HUL were the other losers.
Ambareesh Baliga of Karvy Stock Broking said, "The Nifty should be in broad range of 3,800-3,900 to around 4,500 in the June series." He said, "We could see a correction which could take it to the levels of 4,000-4,100 initially and possibly post that we could see levels of around 3,800-4,000, that should be a good level to again start buying."
The 50-share NSE Nifty crossed the 4350 level during the day. It closed at 4337.10, up 1.43% or 61.05 points over previous close. The 30-share BSE Sensex closed 186.37 points or 1.32% higher at 14,296.01.
| Company | April | May | Gain (%) |
| Reliance Infra | 695.2 | 1288.2 | 85.30 |
| DLF | 230.9 | 365.5 | 58.29 |
| Ranbaxy Labs | 165.95 | 261.85 | 57.79 |
| Tata Steel | 238.05 | 373.25 | 56.79 |
| Hindalco | 53.85 | 81.55 | 51.44 |
| L&T | 879.55 | 1311.4 | 49.10 |
| ICICI Bank | 477.75 | 710.55 | 48.73 |
| | 409.05 | 591.15 | 44.52 |
| Tata Motors | 242.35 | 343.55 | 41.76 |
| Reliance Comm | 214.95 | 304.1 | 41.47 |
| SBI | 1277.7 | 1790.55 | 40.14 |
Commenting on the today's results, Baliga said that M&M and Larsen had clearly surprised the markets with their earnings. They were quite good.
Largest steel company in the public sector, SAIL reported 10.55% decline in Q4 sales at Rs 12,057.79 crore and 37.5% decline in net profit at Rs 1,486.68 crore. Its OPM was also down 7.31% at 17.49% versus 24.8%. However, the stock gained 6.58% despite weak numbers.
Among the frontliners, Ranbaxy Labs, Sterlite, Bharti Airtel, NTPC, Tata Steel, SAIL and Siemens were top gainers, gained 2.7-6.6%. However, Tata Motors, Grasim, Wipro, Reliance Communication, Reliance Infrastructure, Tata Communication and Hero Honda were top losers, lost 1.3-4.6%.
Inflation for the week-ended May 16 remained unchanged at 0.61% week-on-week (WoW). The Wholesale Price Index (WPI) for all commodities was up 0.1% at 232.2 WoW. Inflation for week-ended March 21 has been revised to 0.84% as against the provisional figure of 0.31%.
Commenting on the numbers, Abheek Baruah, Chief Economist, HDFC Bank said he expected inflation to be in the negative territory this June.
Sectoral indices
BSE Midcap BSE Smallcap
The BSE Metal Index surged 283.16 points or 2.76%, to 10,549.95, as SAIL, JSW Steel, Sterlite and Tata Steel were up 2.8-6.6%. Name April May Gain (%) JM Financial 22.45 50.65 125.61 Simplex Infra 177.95 384.05 115.82 Patel Engg 169.85 366.25 115.63 Aban Offshore 407.35 876.15 115.09 Future Capital 126.05 267.3 112.06 Name April May Gain (%) Unity Infra 110.4 276.4 150.36 United Breweries 94.85 228.65 141.06 Hinduja Global 123.6 290 134.63 Action Construction 15.71 36.55 132.65 BL Kashyap 165.35 378.55 128.94
Buying was also seen in the banking space, Kotak Mahindra, ICICI Bank, SBI and HDFC Bank went up 2-3.5%. The BSE Bankex rose 1.81% or 145.43 points, to 8,162.73.
In the capital goods space, ABB, Siemens, L&T, Punj Lloyd and BHEL were up 1.9-3.5%. Respective Index gained 196.26 points or 1.74% at 11,448.72.
Among the realty stocks, Indiabulls Real shot up 10.56%. Puravankara Projects was up 4.96% and DLF gained 1.78%. Respective Index closed 1.74% or 61.17 points higher at 3,577.94. However, Unitech lost around 1%.
Power stocks also charged up; GVK Power, NTPC, Power Grid Corp, Suzlon Energy, Tata Power and Reliance Power went up 0.9-3.5%. The BSE Power Index rose 1.28% or 35.73 points, to 2,824.23.
Oil & Gas stocks like ONGC, Reliance Industries and Reliance Petroleum gained 1.4-2%, which helped the respective Index to gain 114.52 points or 1.15% at 10,085.87. However, BPCL fell 2.31%. IOC, Cairn India and HPCL fell 0.5-0.9%.
In the telecom pack, Bharti Airtel surged 3.42%. However, Tata Communication, MTNL, Tata Teleservices and Reliance Communication were down 1-4.7%.
There was a mixed trend in auto space, though the BSE Auto was up 0.60% or 26.44 points, to 4,458.66. Bharat Forge, Maruti Suzuki and M&M gained 2-6.5% while Tata Motors, Hero Honda, Amtek Auto and Ashok Leyland declined 1-3%.
Another company, Mahindra and Mahindra declared its fourth quarter results. The company's standalone net profit was at Rs 418.1 crore versus Rs 221.1 crore on YoY basis. Its standalone net sales were at Rs 3619.2 crore versus Rs 3148.2 crore. The stock was up over 2%.
Among other indices, BSE FMCG, IT and Healthcare indices were down just 0.2-0.4%, to close at 2,091.42, 2,928.15 and 3,483.16, respectively.
More @