Oil at 6-week low as storm fears ease
US STOCKS-Market up as oil's drop trumps earnings; Yahoo up late
NEW YORK (Reuters) - Oil prices fell to a six-week low on Tuesday amid concerns over sliding U.S. energy demand and expectations that a hurricane pushing through the Gulf of Mexico would spare most offshore oil production.
The losses extend a decline from the July 11 peak over $147 a barrel that has marked the steepest price fall in dollar terms in oil's history -- leading some analysts to question how soon the market will resume its six-year rally.
"We've now seen more than a $20 decline in the crude oil market from the highs and this suggests that we've seen enough of a shift in the supply and demand balance on a larger scale to cap the market," said Tim Evans, energy analyst for Citi Futures Perspective in New York.
U.S. crude futures fell $3.09 to settle at $127.95 a barrel after dipping as low as $125.63 -- the lowest level since early June. London Brent crude fell $3.23 to $129.38 a barrel.
Dealers said mounting economic trouble in the United States and continued lackluster energy demand from the world's biggest consumer nation were the key focuses of oil's slide.
Gasoline consumption in the United States is running about 2.2 percent below year-ago levels in a sign drivers stunned by soaring pump prices are curbing their road travel, according to a MasterCard survey released Tuesday.
Even so, oil remains nearly 30 percent higher than at the start of this year, and more than six times higher than in 2002, in a rally driven by startling growth in China and other developing Asian economies.
Oil traders and analysts added that Hurricane Dolly, moving through the western Gulf of Mexico on a path toward the Texas-Mexico border, was unlikely to seriously disrupt the region's oil production. Continued...
------------------------------------
Yahoo profit falls, CFO says 2008 outlook intact
Fannie, Freddie rescue gets big price tag as House vote looms
GE, Abu Dhabi firm in $8 bln joint venture
E*Trade loss deeper than expected; issues warning
United, US Airways, JetBlue post losses on fuel woes
Source: Reuters.com
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23 July 2008
Market to rally on govt confidence vote win
Market to rally on govt confidence vote win
23 Jul, 2008, 0600 hrs IST, REUTERS
Rupee and stock markets are expected to rise on Wednesday after the government won the confidence vote ensuring its immediate survival, with analysts expecting it could revive some of its stalled economic reforms. But economists expected rallies to be short-lived as concerns about inflation nearing 12 percent, high oil prices, slowing economic growth and rising interest rates are likely to return to the fore now the political uncertainty had faded.
"The markets will be relieved, and now that there is no uncertainty, investors will turn to the fundamentals, like inflation and oil and the global markets. Foreign investors will look at how further reforms take place," said Andrew Holland, head of the strategic risk group at DSP Merrill Lynch in Mumbai. "The stock market is likely to go up by 1-2 percent in the morning, then we will go back to the fundamentals, locally and globally." Ahead of the vote on Tuesday, which the government won by 275 votes to 256, the rupee ended at 42.73/74 per dollar, weaker than Monday's close at 42.68/69, but the 30-share index closed 1.84 percent higher at 14,104.20 points.
The stock market had climbed in anticipation of a government win for four days in a row ahead of the vote, rising off a recent 15-month trough of 12,514.02. American depositary receipts also rose sharply after the vote. The Congress-party led coalition won the confidence vote late on Tuesday with the help of regional parties, after splitting with its communist allies of four years, who pulled their support in protest at a nuclear energy deal with the United States. Analysts said the government should now survive until the end of its term, with elections due by next May, although its joy at the victory was tempered by opposition lawmakers saying they were offered bribes to abstain.
REFORMS
Analysts said the government could now try to sell stakes in some state-run companies to boost revenues as its finances worsen due to oil and food subsidies. Finance Minister Palaniappan Chidambaram said it would work with other parties to take reforms forward. The currency was also likely to gain with the political uncertainty out of the way and a revived reform agenda potentially bringing in foreign investment, economists said. "There will be a knee-jerk positive reaction in the currency market and the rupee may open at today's high of around 42.58 per dollar and may even test 42.50," said Agam Gupta, head of trading at Standard Chartered Bank. The rupee touched a 15-month low earlier in July of 43.50 per dollar, under pressure from a rising trade and current account deficit due to record oil prices. The benchmark 10-year bond yield ended at 9.12 percent on Tuesday, above Monday's close of 9.06 percent. It hit a seven-year high of 9.55 percent this month on concerns about inflation and a rising oil subsidy bill.
..................Continued...Next >>
------------------------------------------------------
Indian ADRs jump after govt wins confidence vote
US stocks jump as crude drops by $3
------------------------------------------------------
23 Jul, 2008, 0600 hrs IST, REUTERS
Rupee and stock markets are expected to rise on Wednesday after the government won the confidence vote ensuring its immediate survival, with analysts expecting it could revive some of its stalled economic reforms. But economists expected rallies to be short-lived as concerns about inflation nearing 12 percent, high oil prices, slowing economic growth and rising interest rates are likely to return to the fore now the political uncertainty had faded.
"The markets will be relieved, and now that there is no uncertainty, investors will turn to the fundamentals, like inflation and oil and the global markets. Foreign investors will look at how further reforms take place," said Andrew Holland, head of the strategic risk group at DSP Merrill Lynch in Mumbai. "The stock market is likely to go up by 1-2 percent in the morning, then we will go back to the fundamentals, locally and globally." Ahead of the vote on Tuesday, which the government won by 275 votes to 256, the rupee ended at 42.73/74 per dollar, weaker than Monday's close at 42.68/69, but the 30-share index closed 1.84 percent higher at 14,104.20 points.
The stock market had climbed in anticipation of a government win for four days in a row ahead of the vote, rising off a recent 15-month trough of 12,514.02. American depositary receipts also rose sharply after the vote. The Congress-party led coalition won the confidence vote late on Tuesday with the help of regional parties, after splitting with its communist allies of four years, who pulled their support in protest at a nuclear energy deal with the United States. Analysts said the government should now survive until the end of its term, with elections due by next May, although its joy at the victory was tempered by opposition lawmakers saying they were offered bribes to abstain.
REFORMS
Analysts said the government could now try to sell stakes in some state-run companies to boost revenues as its finances worsen due to oil and food subsidies. Finance Minister Palaniappan Chidambaram said it would work with other parties to take reforms forward. The currency was also likely to gain with the political uncertainty out of the way and a revived reform agenda potentially bringing in foreign investment, economists said. "There will be a knee-jerk positive reaction in the currency market and the rupee may open at today's high of around 42.58 per dollar and may even test 42.50," said Agam Gupta, head of trading at Standard Chartered Bank. The rupee touched a 15-month low earlier in July of 43.50 per dollar, under pressure from a rising trade and current account deficit due to record oil prices. The benchmark 10-year bond yield ended at 9.12 percent on Tuesday, above Monday's close of 9.06 percent. It hit a seven-year high of 9.55 percent this month on concerns about inflation and a rising oil subsidy bill.
..................Continued...Next >>
------------------------------------------------------
Indian ADRs jump after govt wins confidence vote
US stocks jump as crude drops by $3
------------------------------------------------------
Source: Rediff, ET
Economic Reforms: India Inc's wish list
Economic Reforms: India Inc's wish list
Following are some of the key components of economic reforms which India Inc will now hope the United Progressive Alliance (UPA) will address, having won the trust motion in parliament on Tuesday:
- Divestment of government equity in public sector undertakings
- Privatisation of state-run companies
- Liberal labour policies for corporate sector
- Foreign equity in multi-brand retailing
- Higher equity for foreign companies in single-brand retailing
- Higher foreign equity for foreign companies in insurance sector
- Development of a vibrant corporate bond market
- Easier norms for foreign banks to set up operations in India
- Removal of 10 percent cap on voting rights for investors in non-state banks
- Relaxation of land ceiling for foreign realty developers
- Easier entry norms for credit rating companies
- Higher foreign equity in asset reconstruction companies
- Higher equity for foreign firms in state-run refining projects
- Higher foreign equity in newspapers and current affairs periodicals
- Permission for news and current affairs programming on FM radio
- More liberal policies for foreign equity in commodity exchanges
Source:ET
Following are some of the key components of economic reforms which India Inc will now hope the United Progressive Alliance (UPA) will address, having won the trust motion in parliament on Tuesday:
- Divestment of government equity in public sector undertakings
- Privatisation of state-run companies
- Liberal labour policies for corporate sector
- Foreign equity in multi-brand retailing
- Higher equity for foreign companies in single-brand retailing
- Higher foreign equity for foreign companies in insurance sector
- Development of a vibrant corporate bond market
- Easier norms for foreign banks to set up operations in India
- Removal of 10 percent cap on voting rights for investors in non-state banks
- Relaxation of land ceiling for foreign realty developers
- Easier entry norms for credit rating companies
- Higher foreign equity in asset reconstruction companies
- Higher equity for foreign firms in state-run refining projects
- Higher foreign equity in newspapers and current affairs periodicals
- Permission for news and current affairs programming on FM radio
- More liberal policies for foreign equity in commodity exchanges
Source:ET
Singh is King: UPA govt wins confidence vote
Singh is King: UPA govt wins confidence vote
Indian Prime Minister Manmohan Singh's government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. Earlier the opposition demanded the resignation of the prime minister anyway after three of its lawmakers said they had been bribed to abstain.
The government won 275 votes against 256 for the opposition, the parliamentary speaker Somnath Chatterjee announced. The session was angry and chaotic. The debate was briefly adjourned when opposition lawmakers interrupted the debate to wave wads of cash they said were offered as bribes by the government to abstain.
The vote pitted the Congress-led coalition that negotiated the civilian nuclear deal against its former communist allies and opposition parties led by the Hindu-nationalist Bharatiya Janata Party (BJP). With the vote very close, several MPs who are ill were flown or wheeled in from hospital, and others, in jail for crimes such as murder and extortion, were granted temporary release.
The win means the four-year-old, left-of-centre government will, for the moment, stay in power. It will try and move ahead with a civilian nuclear deal, seen as one of the few legacies of the prime minister. The deal would draw India closer to the West and allow the Asian giant access to foreign civilian nuclear fuel and technology, despite not signing the Non-Proliferation Treaty and conducting nuclear tests in 1974 and 1998.
It could unlock $40 billion in investment over the next 15 years, according to an Indian business lobby group, as India seeks new energy sources to tap its booming, trillion-dollar economy. But it is unclear whether the prime minister will be able to stay in power until elections scheduled by May, 2009, especially if the bribery scandal spirals and involves top government officials.
Investors had hoped the victory would give the government time to battle rising inflation, which has hit the pockets of millions of poor voters, as well as passing some economic reforms in sectors like insurance and pensions. Investors had expected a narrow win for the government, and said the victory could boost markets. The main share index has risen by more than 12 percent in the last four sessions.
The confidence vote was sparked by the withdrawal of the government's communist allies to protest the nuclear deal, which they say will make India's security and energy policies dependent on the United States. Finance Minister Palaniappan Chidambaram, in a speech frequently interrupted by shouting from the opposition benches, defended the government's record and said nuclear power was vital if the country was to emulate the economic success of China. "This government under Dr Manmohan Singh's leadership is charting out a new path which will end India's nuclear isolation, which will pave the way for India becoming an economic superpower," he said. Despite the parliamentary victory, it is still unclear whether there is enough time for the deal to be passed by US.
Congress under the Bush administration. The agreement needs clearance from the governors of the UN atomic watchdog and a 45-nation group that controls sensitive nuclear trade. The government helped secure a parliamentary majority with the support of the regional Samajwadi Party (SP), which replaced the communists as its parliamentary support. The SP will now effectively hold the balance of power in India and the party is expected to give the government more room than the communists to pass economic reforms.
--------------------------------------------------------------
Manmohan 7th PM to win trust vote in three decades
India Inc, investors hail UPA victory
India to check inflation without hurting growth: PM
'N-deal will open opportunities for 400 companies'
After trust win, Kamal Nath heads for Geneva
Cabinet reshuffle on cards?
India Inc relieved as government wins trust vote
PM proves mettle, wins confidence vote
10 horses bolt from BJP stable
The dream team of Congress
You may not love him, but you can't ignore him
FM rubs it in, Left and Right
Cash-on-table a first in Lok Sabha history
Lalu banks on Bollywood songs to score points
Life after the trust vote
'Whistle blowers can face action'
Indian Prime Minister Manmohan Singh's government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. Earlier the opposition demanded the resignation of the prime minister anyway after three of its lawmakers said they had been bribed to abstain.
The government won 275 votes against 256 for the opposition, the parliamentary speaker Somnath Chatterjee announced. The session was angry and chaotic. The debate was briefly adjourned when opposition lawmakers interrupted the debate to wave wads of cash they said were offered as bribes by the government to abstain.
The vote pitted the Congress-led coalition that negotiated the civilian nuclear deal against its former communist allies and opposition parties led by the Hindu-nationalist Bharatiya Janata Party (BJP). With the vote very close, several MPs who are ill were flown or wheeled in from hospital, and others, in jail for crimes such as murder and extortion, were granted temporary release.
The win means the four-year-old, left-of-centre government will, for the moment, stay in power. It will try and move ahead with a civilian nuclear deal, seen as one of the few legacies of the prime minister. The deal would draw India closer to the West and allow the Asian giant access to foreign civilian nuclear fuel and technology, despite not signing the Non-Proliferation Treaty and conducting nuclear tests in 1974 and 1998.
It could unlock $40 billion in investment over the next 15 years, according to an Indian business lobby group, as India seeks new energy sources to tap its booming, trillion-dollar economy. But it is unclear whether the prime minister will be able to stay in power until elections scheduled by May, 2009, especially if the bribery scandal spirals and involves top government officials.
Investors had hoped the victory would give the government time to battle rising inflation, which has hit the pockets of millions of poor voters, as well as passing some economic reforms in sectors like insurance and pensions. Investors had expected a narrow win for the government, and said the victory could boost markets. The main share index has risen by more than 12 percent in the last four sessions.
The confidence vote was sparked by the withdrawal of the government's communist allies to protest the nuclear deal, which they say will make India's security and energy policies dependent on the United States. Finance Minister Palaniappan Chidambaram, in a speech frequently interrupted by shouting from the opposition benches, defended the government's record and said nuclear power was vital if the country was to emulate the economic success of China. "This government under Dr Manmohan Singh's leadership is charting out a new path which will end India's nuclear isolation, which will pave the way for India becoming an economic superpower," he said. Despite the parliamentary victory, it is still unclear whether there is enough time for the deal to be passed by US.
Congress under the Bush administration. The agreement needs clearance from the governors of the UN atomic watchdog and a 45-nation group that controls sensitive nuclear trade. The government helped secure a parliamentary majority with the support of the regional Samajwadi Party (SP), which replaced the communists as its parliamentary support. The SP will now effectively hold the balance of power in India and the party is expected to give the government more room than the communists to pass economic reforms.
--------------------------------------------------------------
Manmohan 7th PM to win trust vote in three decades
India Inc, investors hail UPA victory
India to check inflation without hurting growth: PM
'N-deal will open opportunities for 400 companies'
After trust win, Kamal Nath heads for Geneva
Cabinet reshuffle on cards?
India Inc relieved as government wins trust vote
PM proves mettle, wins confidence vote
10 horses bolt from BJP stable
The dream team of Congress
You may not love him, but you can't ignore him
FM rubs it in, Left and Right
Cash-on-table a first in Lok Sabha history
Lalu banks on Bollywood songs to score points
Life after the trust vote
'Whistle blowers can face action'
22 July 2008
Results:Lupin, Siemens,Jstain,AsianPaints,IDBI, Hanung etc
Siemens net profit rises 107.15% in the June 2008 quarter
Net profit of Siemens rose 107.15% to Rs 169.43 crore in the quarter ended June 2008 as against Rs 81.79 crore during the previous quarter ended June 2007. Sales rose 1.54% to Rs 1809.68 crore in the quarter ended June 2008 as against Rs 1782.27 crore during the previous quarter ended June 2007
Jindal Stainless net profit declines 65.59% in the June 2008 quarter
Net profit of Jindal Stainless declined 65.59% to Rs 28.42 crore in the quarter ended June 2008 as against Rs 82.60 crore during the previous quarter ended June 2007. Sales rose 31.80% to Rs 1577.43 crore in the quarter ended June 2008 as against Rs 1196.82 crore during the previous quarter ended June 2007
Asian Paints net profit rises 32.02% in the June 2008 quarter
Net profit of Asian Paints rose 32.02% to Rs 98.00 crore in the quarter ended June 2008 as against Rs 74.23 crore during the previous quarter ended June 2007. Sales rose 34.45% to Rs 995.24 crore in the quarter ended June 2008 as against Rs 740.21 crore during the previous quarter ended June 2007
Alfa-Laval India net profit rises 28.96% in the June 2008 quarter
Net profit of Alfa-Laval India rose 28.96% to Rs 25.92 crore in the quarter ended June 2008 as against Rs 20.10 crore during the previous quarter ended June 2007. Sales rose 31.15% to Rs 194.23 crore in the quarter ended June 2008 as against Rs 148.10 crore during the previous quarter ended June 2007
Strides Arcolab reports net loss of Rs 55.96 crore in the June 2008 quarter
Grindwell Norton net profit rises 17.60% in the June 2008 quarter
NOCIL net profit rises 473.40% in the June 2008 quarter
Bellary Steels & Alloys reports net loss of Rs 34.37 crore in the June 2008 quarter
Vimal Oil and Foods net profit rises 21.43% in the June 2008 quarter
Indraprastha Gas net profit rises 13.69% in the June 2008 quarter
Net profit of Indraprastha Gas rose 13.69% to Rs 43.68 crore in the quarter ended June 2008 as against Rs 38.42 crore during the previous quarter ended June 2007. Sales rose 17.92% to Rs 190.74 crore in the quarter ended June 2008 as against Rs 161.75 crore during the previous quarter ended June 2007
Coromandel Fertilisers net profit rises 1394.68% in the June 2008 quarter
Net profit of Coromandel Fertilisers rose 1394.68% to Rs 193.86 crore in the quarter ended June 2008 as against Rs 12.97 crore during the previous quarter ended June 2007. Sales rose 462.90% to Rs 1400.39 crore in the quarter ended June 2008 as against Rs 248.78 crore during the previous quarter ended June 2007.
EMCO net profit rises 11.54% in the June 2008 quarter
Net profit of EMCO rose 11.54% to Rs 10.05 crore in the quarter ended June 2008 as against Rs 9.01 crore during the previous quarter ended June 2007. Sales rose 18.81% to Rs 183.35 crore in the quarter ended June 2008 as against Rs 154.32 crore during the previous quarter ended June 2007
NIIT Technologies net profit declines 15.34% in the June 2008 quarter
Net profit of NIIT Technologies declined 15.34% to Rs 24.44 crore in the quarter ended June 2008 as against Rs 28.87 crore during the previous quarter ended June 2007. Sales rose 46.22% to Rs 124.26 crore in the quarter ended June 2008 as against Rs 84.98 crore during the previous quarter ended June 2007.
Bank of Rajasthan net profit rises 2.49% in the June 2008 quarter
IDBI Bank net profit rises 4.34% in the June 2008 quarter
Net profit of IDBI Bank rose 4.34% to Rs 159.76 crore in the quarter ended June 2008 as against Rs 153.12 crore during the previous quarter ended June 2007. Total operating income rose 34.85% to Rs 2417.64 crore in the quarter ended June 2008 as against Rs 1792.79 crore during the previous quarter ended June 2007.
Lupin net profit rises 38.45% in the June 2008 quarter
Net profit of Lupin rose 38.45% to Rs 108.52 crore in the quarter ended June 2008 as against Rs 78.38 crore during the previous quarter ended June 2007. Sales rose 18.39% to Rs 712.42 crore in the quarter ended June 2008 as against Rs 601.75 crore during the previous quarter ended June 2007
OCL India net profit rises 7.95% in the June 2008 quarter
Century Textiles & Industries net profit declines 42.08% in the June 2008 quarter
Jindal Drilling & Industries net profit rises 1.31% in the June 2008 quarter
Tata Elxsi net profit declines 41.24% in the June 2008 quarter
--------------------------------------------------
Bank of Rajasthan Q1 net profit at Rs 30.9 cr
IDBI Bank Q1 net up 3.84% at Rs 159 cr
Century Textiles Q1 net profit at Rs 62.5 cr
Lupin Q1 cons net profit at Rs 112 cr
NIIT Tech Q1 net profit at Rs 24.4 cr
Hanung Toys Q1 net profit at Rs 18.6 cr
Tata Elxsi Q1 cons net sales at Rs 97.4 cr
Thermax Q1 cons net profit at Rs 58.4 cr
Madras Fert Q1 net loss at Rs 30 cr
Tata Coffee Q1 net profit at Rs 3.9 cr
Peninsula Land Q1 net profit at Rs 31.24 cr
Source: Indiaearnings, Capitalmarket
Net profit of Siemens rose 107.15% to Rs 169.43 crore in the quarter ended June 2008 as against Rs 81.79 crore during the previous quarter ended June 2007. Sales rose 1.54% to Rs 1809.68 crore in the quarter ended June 2008 as against Rs 1782.27 crore during the previous quarter ended June 2007
Jindal Stainless net profit declines 65.59% in the June 2008 quarter
Net profit of Jindal Stainless declined 65.59% to Rs 28.42 crore in the quarter ended June 2008 as against Rs 82.60 crore during the previous quarter ended June 2007. Sales rose 31.80% to Rs 1577.43 crore in the quarter ended June 2008 as against Rs 1196.82 crore during the previous quarter ended June 2007
Asian Paints net profit rises 32.02% in the June 2008 quarter
Net profit of Asian Paints rose 32.02% to Rs 98.00 crore in the quarter ended June 2008 as against Rs 74.23 crore during the previous quarter ended June 2007. Sales rose 34.45% to Rs 995.24 crore in the quarter ended June 2008 as against Rs 740.21 crore during the previous quarter ended June 2007
Alfa-Laval India net profit rises 28.96% in the June 2008 quarter
Net profit of Alfa-Laval India rose 28.96% to Rs 25.92 crore in the quarter ended June 2008 as against Rs 20.10 crore during the previous quarter ended June 2007. Sales rose 31.15% to Rs 194.23 crore in the quarter ended June 2008 as against Rs 148.10 crore during the previous quarter ended June 2007
Strides Arcolab reports net loss of Rs 55.96 crore in the June 2008 quarter
Grindwell Norton net profit rises 17.60% in the June 2008 quarter
NOCIL net profit rises 473.40% in the June 2008 quarter
Bellary Steels & Alloys reports net loss of Rs 34.37 crore in the June 2008 quarter
Vimal Oil and Foods net profit rises 21.43% in the June 2008 quarter
Indraprastha Gas net profit rises 13.69% in the June 2008 quarter
Net profit of Indraprastha Gas rose 13.69% to Rs 43.68 crore in the quarter ended June 2008 as against Rs 38.42 crore during the previous quarter ended June 2007. Sales rose 17.92% to Rs 190.74 crore in the quarter ended June 2008 as against Rs 161.75 crore during the previous quarter ended June 2007
Coromandel Fertilisers net profit rises 1394.68% in the June 2008 quarter
Net profit of Coromandel Fertilisers rose 1394.68% to Rs 193.86 crore in the quarter ended June 2008 as against Rs 12.97 crore during the previous quarter ended June 2007. Sales rose 462.90% to Rs 1400.39 crore in the quarter ended June 2008 as against Rs 248.78 crore during the previous quarter ended June 2007.
EMCO net profit rises 11.54% in the June 2008 quarter
Net profit of EMCO rose 11.54% to Rs 10.05 crore in the quarter ended June 2008 as against Rs 9.01 crore during the previous quarter ended June 2007. Sales rose 18.81% to Rs 183.35 crore in the quarter ended June 2008 as against Rs 154.32 crore during the previous quarter ended June 2007
NIIT Technologies net profit declines 15.34% in the June 2008 quarter
Net profit of NIIT Technologies declined 15.34% to Rs 24.44 crore in the quarter ended June 2008 as against Rs 28.87 crore during the previous quarter ended June 2007. Sales rose 46.22% to Rs 124.26 crore in the quarter ended June 2008 as against Rs 84.98 crore during the previous quarter ended June 2007.
Bank of Rajasthan net profit rises 2.49% in the June 2008 quarter
IDBI Bank net profit rises 4.34% in the June 2008 quarter
Net profit of IDBI Bank rose 4.34% to Rs 159.76 crore in the quarter ended June 2008 as against Rs 153.12 crore during the previous quarter ended June 2007. Total operating income rose 34.85% to Rs 2417.64 crore in the quarter ended June 2008 as against Rs 1792.79 crore during the previous quarter ended June 2007.
Lupin net profit rises 38.45% in the June 2008 quarter
Net profit of Lupin rose 38.45% to Rs 108.52 crore in the quarter ended June 2008 as against Rs 78.38 crore during the previous quarter ended June 2007. Sales rose 18.39% to Rs 712.42 crore in the quarter ended June 2008 as against Rs 601.75 crore during the previous quarter ended June 2007
OCL India net profit rises 7.95% in the June 2008 quarter
Century Textiles & Industries net profit declines 42.08% in the June 2008 quarter
Jindal Drilling & Industries net profit rises 1.31% in the June 2008 quarter
Tata Elxsi net profit declines 41.24% in the June 2008 quarter
--------------------------------------------------
Bank of Rajasthan Q1 net profit at Rs 30.9 cr
IDBI Bank Q1 net up 3.84% at Rs 159 cr
Century Textiles Q1 net profit at Rs 62.5 cr
Lupin Q1 cons net profit at Rs 112 cr
NIIT Tech Q1 net profit at Rs 24.4 cr
Hanung Toys Q1 net profit at Rs 18.6 cr
Tata Elxsi Q1 cons net sales at Rs 97.4 cr
Thermax Q1 cons net profit at Rs 58.4 cr
Madras Fert Q1 net loss at Rs 30 cr
Tata Coffee Q1 net profit at Rs 3.9 cr
Peninsula Land Q1 net profit at Rs 31.24 cr
Source: Indiaearnings, Capitalmarket
Labels:
AsianPaints,
Hanung etc,
IDBI,
Jstain,
Results:Lupin,
Siemens
Deadpresident blog reports
Ultratech Cement
Today's Pick - Indian Bank
Technicals - July 22 2008
India Infrastructure
Daily Technicals - July 22 2008
Maruti Suzuki, ICICI Bank, Infosys, Bharti Airtel,...
Eveninger - July 21 2008
Property prices down
Bullion metals register gains
Crude rises for first time in five sessions
RCom July 2008 futures at premium
PFC
Source: Deadpresident blog
Today's Pick - Indian Bank
Technicals - July 22 2008
India Infrastructure
Daily Technicals - July 22 2008
Maruti Suzuki, ICICI Bank, Infosys, Bharti Airtel,...
Eveninger - July 21 2008
Property prices down
Bullion metals register gains
Crude rises for first time in five sessions
RCom July 2008 futures at premium
PFC
Source: Deadpresident blog
10 trends for IT cos
10 trends for IT cos
The last ten years were years of numbers and figures for the Indian IT services industry. And as the National Association of Software and Services Companies (Nasscom) President Som Mittal will tell you, they were years to project numbers and weave a strategy to get to those numbers. “But the next decade will be structurally different.
It will be more about making a change rather than following a change,” he says. With the change in business and economic landscape, IT companies will need a different tool-kit to retain the edge from here on.
Indian players can never forget that out of the total addressable offshoring market of $380 billion, less than 15 per cent has been penetrated. What are the trends that the Indian IT industry needs to catch in order to ride the next decade of growth for the software services market? Read on...... 10 trends for IT cos
----------------------------------------------
Expect a short-term rally, and that's it
Most CEOs expect govt to win trust vote: ASSOCHAM survey
Latest on trust vote
Has Indian coalition politics gone bankrupt?
UTVi outlook for the day
India Inc backs N-deal, govt
The last ten years were years of numbers and figures for the Indian IT services industry. And as the National Association of Software and Services Companies (Nasscom) President Som Mittal will tell you, they were years to project numbers and weave a strategy to get to those numbers. “But the next decade will be structurally different.
It will be more about making a change rather than following a change,” he says. With the change in business and economic landscape, IT companies will need a different tool-kit to retain the edge from here on.
Indian players can never forget that out of the total addressable offshoring market of $380 billion, less than 15 per cent has been penetrated. What are the trends that the Indian IT industry needs to catch in order to ride the next decade of growth for the software services market? Read on...... 10 trends for IT cos
----------------------------------------------
Expect a short-term rally, and that's it
Most CEOs expect govt to win trust vote: ASSOCHAM survey
Latest on trust vote
Has Indian coalition politics gone bankrupt?
UTVi outlook for the day
India Inc backs N-deal, govt
21 July 2008
Results: BHEL, Maruti,Dr.Reddy,Indian Bk, SAIL,Wels.Guj, Petronet, Techmahindra, HDIL etc
BHEL Q1 net profit up at Rs 384.41 cr
BHEL has aanounced its first quarter results. The company's standalone net profit was up at Rs 384.41 crore versus Rs 288.91 crore, (YoY).
----------------------------------------------------
ING Vysya Bank Q1 net profit up at Rs 40.63 cr
ING Vysya Bank has announced its first quarter results. The company's Q1 sandalone net profit was up at Rs 40.63 crore versus Rs 25.32 crore, (YoY).
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Aban Offshore Q1 net profit at Rs 71.51 cr 21st-Jul-2008
Aban Offshore has announced its first quarter numbers. Its standalone net profit was up at Rs 71.51 crore for the quarter ended June 2008 as against Rs 28.38 crore in same period of last year. Net sales stood at Rs 246.95 crore versus Rs 127.61 crore.
--------------------------------------------------------
Maruti Suzuki Q1 net profit at Rs 465 cr 21st-Jul-2008
Maruti Suzuki India has declared its first quarter results. The company's Q1 net profit was down 6.8% at Rs 465 crore versus Rs 499 crore.
------------------------------------------------
Voltas Q1 net profit up at Rs 85.1 cr 21st-Jul-2008
Voltas has announced its first quarter results. The company's standalone net profit was up at Rs 85.1 crore versus Rs 52.2 crore (YoY).
--------------------------------------------------
Tech Mahindra Q1 cons net profit at Rs 258.54 cr 21st-Jul-2008
Tech Mahindra has declared its consolidated results for the quarter ended June 2008 (Q1). The company's consolidated net profit was at Rs 258.54 crore versus net loss of Rs 221.1 crore on QoQ basis.
---------------------------------------------------
SAIL Q1 net profit up 20% at Rs 1835 cr 21st-Jul-2008
SAIL has announced its first quarter numbers. Its standalone net profit has increased by 20.33% at Rs 1835.19 crore for first quarter of FY09 as against Rs 1525.12 crore in same period of last year.
------------------------------------------------
Bartronics Q1 cons net profit at Rs 23.5 cr 21st-Jul-2008
Bartronics India has announced its first quarter results. The company's Q1 consolidated net profit was at Rs 23.5 crore versus Rs 20.2 crore.
---------------------------------------------------
Dr Reddys Labs Q1 net profit at Rs 135 cr view table 21st-Jul-2008
Dr Reddys Laboratories has decalred its Q1 results. The company's Q1 net profit at Rs 134.6 crore versus Rs 182.5 crore.
-----------------------------------------------------
Welspun Gujarat Q1 net profit at Rs 71.1 cr view table 21st-Jul-2008
Welspun Gujarat Stahl Roh has declared its first quarter results. The company's Q1 net profit at Rs 71.1 crore.
-------------------------------------------------
Punjab Tractors Q1 net profit at Rs 22.4 cr view table 21st-Jul-2008
Punjab Tractors has announced its first quarter results. It has reported net profit of Rs 22.4 crore for first quarter of FY09 as against Rs 3.3 crore in same period of last year.
---------------------------------------------
LIC Hsg Fin Q1 net profit at Rs 104.7 cr view table 21st-Jul-2008
LIC Housing Finance has come out with first quarter numbers. Its Q1 net profit increased at Rs 104.7 crore from Rs 46.7 crore and total income went up at Rs 622 crore versus Rs 461.8 crore YoY.
----------------------------------------------
Canara Bank Q1 net profit at Rs 122.7 cr view table 21st-Jul-2008
Canara Bank has declared its first quarter results. The company's Q1 standalone net profit was down at Rs 122.7 crore versus Rs 240.6 crore.
-------------------------------------------------
IL&FS Invst Mngrs Q1 net profit at Rs 13 cr view table 21st-Jul-2008
ILandFS Investment Managers has announced its first quarter numbers. It has reported net profit of Rs 13 crore for first quarter of FY09 as against Rs 9.8 crore in earlier quarter.
-------------------------------------------------
Petronet LNG Q1 net profit at Rs 106 cr view table 21st-Jul-2008
Petronet LNG has declared its first quarter numbers of FY09. Its net profit declined at Rs 106 crore for quarter ended June 2008 as against Rs 108 crore in same period of last year. Net sales was up at Rs 1646 crore from Rs 1551 crore.
----------------------------------------------------
HDIL Q1 net profit at Rs 317.9 cr view table 21st-Jul-2008
Housing Development and Infrastructure (HDIL) has announced its first quarter numbers. It has posted net profit of Rs 317.9 crore for quarted ended June 2008 as against Rs 202.7 crore in same period of last year.
----------------------------------------------------
Indian Bank Q1 net profit at Rs 217.6 cr view table 21st-Jul-2008
Indian Bank has announced its results for the quarter ended June 2008 (Q1). The bank's Q1 net profit was up by 3% at Rs 217.6 crore versus Rs 212.03 crore.
---------------------------------------------------
United Spirits net profit rises 33.74% in the June 2008 quarter
Net profit of United Spirits rose 33.74% to Rs 117.13 crore in the quarter ended June 2008 as against Rs 87.58 crore during the previous quarter ended June 2007. Sales rose 32.35% to Rs 1013.39 crore in the quarter ended June 2008 as against Rs 765.71 crore during the previous quarter ended June 2007.
--------------------------------------------
Bharat Heavy Electricals net profit rises 33.06% in the June 2008 quarter
Maruti Suzuki India net profit declines 6.76% in the June 2008 quarter
IL & FS Investsmart net profit declines 55.83% in the June 2008 quarter
Tech Mahindra net profit rises 47.97% in the June 2008 quarter
JK Paper net profit declines 16.88% in the June 2008 quarter
ING Vysya Bank net profit rises 60.47% in the June 2008 quarter
Electrosteel Castings net profit declines 48.27% in the June 2008 quarter
Aban Offshore net profit rises 151.97% in the June 2008 quarter
Steel Authority of India net profit rises 20.33% in the June 2008 quarter
Welspun Gujarat Stahl Rohren net profit rises 2.66% in the June 2008 quarter
Punjab Tractors net profit rises 580.00% in the June 2008 quarter
LIC Housing Finance net profit rises 124.16% in the June 2008 quarter
Canara Bank net profit declines 49.00% in the June 2008 quarter
Housing Development & Infrastructure net profit rises 56.86% in the June 2008 quarter
Petronet LNG net profit declines 2.20% in the June 2008 quarter
Nucleus Software Exports net profit declines 63.41% in the June 2008 quarter
Source: Indiaearnings.com, Capitalmarket.com
BHEL has aanounced its first quarter results. The company's standalone net profit was up at Rs 384.41 crore versus Rs 288.91 crore, (YoY).
----------------------------------------------------
ING Vysya Bank Q1 net profit up at Rs 40.63 cr
ING Vysya Bank has announced its first quarter results. The company's Q1 sandalone net profit was up at Rs 40.63 crore versus Rs 25.32 crore, (YoY).
------------------------------------------------------
Aban Offshore Q1 net profit at Rs 71.51 cr 21st-Jul-2008
Aban Offshore has announced its first quarter numbers. Its standalone net profit was up at Rs 71.51 crore for the quarter ended June 2008 as against Rs 28.38 crore in same period of last year. Net sales stood at Rs 246.95 crore versus Rs 127.61 crore.
--------------------------------------------------------
Maruti Suzuki Q1 net profit at Rs 465 cr 21st-Jul-2008
Maruti Suzuki India has declared its first quarter results. The company's Q1 net profit was down 6.8% at Rs 465 crore versus Rs 499 crore.
------------------------------------------------
Voltas Q1 net profit up at Rs 85.1 cr 21st-Jul-2008
Voltas has announced its first quarter results. The company's standalone net profit was up at Rs 85.1 crore versus Rs 52.2 crore (YoY).
--------------------------------------------------
Tech Mahindra Q1 cons net profit at Rs 258.54 cr 21st-Jul-2008
Tech Mahindra has declared its consolidated results for the quarter ended June 2008 (Q1). The company's consolidated net profit was at Rs 258.54 crore versus net loss of Rs 221.1 crore on QoQ basis.
---------------------------------------------------
SAIL Q1 net profit up 20% at Rs 1835 cr 21st-Jul-2008
SAIL has announced its first quarter numbers. Its standalone net profit has increased by 20.33% at Rs 1835.19 crore for first quarter of FY09 as against Rs 1525.12 crore in same period of last year.
------------------------------------------------
Bartronics Q1 cons net profit at Rs 23.5 cr 21st-Jul-2008
Bartronics India has announced its first quarter results. The company's Q1 consolidated net profit was at Rs 23.5 crore versus Rs 20.2 crore.
---------------------------------------------------
Dr Reddys Labs Q1 net profit at Rs 135 cr view table 21st-Jul-2008
Dr Reddys Laboratories has decalred its Q1 results. The company's Q1 net profit at Rs 134.6 crore versus Rs 182.5 crore.
-----------------------------------------------------
Welspun Gujarat Q1 net profit at Rs 71.1 cr view table 21st-Jul-2008
Welspun Gujarat Stahl Roh has declared its first quarter results. The company's Q1 net profit at Rs 71.1 crore.
-------------------------------------------------
Punjab Tractors Q1 net profit at Rs 22.4 cr view table 21st-Jul-2008
Punjab Tractors has announced its first quarter results. It has reported net profit of Rs 22.4 crore for first quarter of FY09 as against Rs 3.3 crore in same period of last year.
---------------------------------------------
LIC Hsg Fin Q1 net profit at Rs 104.7 cr view table 21st-Jul-2008
LIC Housing Finance has come out with first quarter numbers. Its Q1 net profit increased at Rs 104.7 crore from Rs 46.7 crore and total income went up at Rs 622 crore versus Rs 461.8 crore YoY.
----------------------------------------------
Canara Bank Q1 net profit at Rs 122.7 cr view table 21st-Jul-2008
Canara Bank has declared its first quarter results. The company's Q1 standalone net profit was down at Rs 122.7 crore versus Rs 240.6 crore.
-------------------------------------------------
IL&FS Invst Mngrs Q1 net profit at Rs 13 cr view table 21st-Jul-2008
ILandFS Investment Managers has announced its first quarter numbers. It has reported net profit of Rs 13 crore for first quarter of FY09 as against Rs 9.8 crore in earlier quarter.
-------------------------------------------------
Petronet LNG Q1 net profit at Rs 106 cr view table 21st-Jul-2008
Petronet LNG has declared its first quarter numbers of FY09. Its net profit declined at Rs 106 crore for quarter ended June 2008 as against Rs 108 crore in same period of last year. Net sales was up at Rs 1646 crore from Rs 1551 crore.
----------------------------------------------------
HDIL Q1 net profit at Rs 317.9 cr view table 21st-Jul-2008
Housing Development and Infrastructure (HDIL) has announced its first quarter numbers. It has posted net profit of Rs 317.9 crore for quarted ended June 2008 as against Rs 202.7 crore in same period of last year.
----------------------------------------------------
Indian Bank Q1 net profit at Rs 217.6 cr view table 21st-Jul-2008
Indian Bank has announced its results for the quarter ended June 2008 (Q1). The bank's Q1 net profit was up by 3% at Rs 217.6 crore versus Rs 212.03 crore.
---------------------------------------------------
United Spirits net profit rises 33.74% in the June 2008 quarter
Net profit of United Spirits rose 33.74% to Rs 117.13 crore in the quarter ended June 2008 as against Rs 87.58 crore during the previous quarter ended June 2007. Sales rose 32.35% to Rs 1013.39 crore in the quarter ended June 2008 as against Rs 765.71 crore during the previous quarter ended June 2007.
--------------------------------------------
Bharat Heavy Electricals net profit rises 33.06% in the June 2008 quarter
Maruti Suzuki India net profit declines 6.76% in the June 2008 quarter
IL & FS Investsmart net profit declines 55.83% in the June 2008 quarter
Tech Mahindra net profit rises 47.97% in the June 2008 quarter
JK Paper net profit declines 16.88% in the June 2008 quarter
ING Vysya Bank net profit rises 60.47% in the June 2008 quarter
Electrosteel Castings net profit declines 48.27% in the June 2008 quarter
Aban Offshore net profit rises 151.97% in the June 2008 quarter
Steel Authority of India net profit rises 20.33% in the June 2008 quarter
Welspun Gujarat Stahl Rohren net profit rises 2.66% in the June 2008 quarter
Punjab Tractors net profit rises 580.00% in the June 2008 quarter
LIC Housing Finance net profit rises 124.16% in the June 2008 quarter
Canara Bank net profit declines 49.00% in the June 2008 quarter
Housing Development & Infrastructure net profit rises 56.86% in the June 2008 quarter
Petronet LNG net profit declines 2.20% in the June 2008 quarter
Nucleus Software Exports net profit declines 63.41% in the June 2008 quarter
Source: Indiaearnings.com, Capitalmarket.com
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Sensex ends 215 pts, top stories from ET
Sensex vaults 215 pts on heavy buying
The bulls, despite some uncertain moments during the course of the day, had things going their way for the third successive session on the major Indian bourses today. Though US markets had closed on a mixed note after a choppy session last Friday, a firm trend on the Asian bourses aided the sentiment to an extent this morning.
However, after opening with a strong positive gap, the market declined sharply into the red this morning. But then, it did not stay long in the negative zone as hectic buying in bank, FMCG and a few other blue chip stocks lifted it up into the positive territory in a flash.
After moving in a volatile manner, the market did slip into the red again in early afternoon trade, but only for a short while. Frenzied buying at several front line counters saw the market gaining significant ground in the positive territory in late afternoon trade. A fairly good set of results from India Inc contributed to the buoyant mood this afternoon. Cipla, Dr. Reddy's Laboratories, SAIL, LIC Housing Finance, Punjab Tractors, HDIL and Indian Bank reported a sharp surge in their quarterly earnings. A fairly steady trend on the European markets also aided the bulls in afternoon trade.
Though the market appeared a bit slippery at times due to some cautious moves by the investors ahead of the crucial trust vote in parliament, good corporate earnings, a few big order wins reported by some top notch companies and short-covering kept the market in the positive territory for a considerable length of time today.
So sharp were the gains posted by blue chip stocks that the Sensex signed off with a handsome gain of 214.64 points or 1.57% at 13,850.04 today. In intra-day trades, the barometer touched a low of 13,581.19 and a high of 13,878.88. The Nifty, which swung in a range of around 95 points - it hit a high of 4168.15 and a low of 4072.75 in intra-day trades - closed with a gain of 67.25 points or 1.64% at 4159.50.
Bank and pharma stocks were among the biggest gainers today. Reflecting investor interest for stocks from these sectors, the Bankex and HC indices moved up by 3.88% and 3.03% respectively. Realty stocks bounced back after a mild setback in morning trade and mirroring the gains posted by key stocks in that space, the BSE Realty index advanced by 2.44%. The Auto, FMCG, PSU and Power indices moved up by 1% - 1.75%. Select metal and oil stocks edged higher. IT stocks turned easy after a fairly good show early on. Capital goods stocks found support elusive.
Pharma majors Cipla and Ranbaxy Laboratories ended stronger by 5.2% and 4.75% respectively. HDFC Bank (4.8%), ICICI Bank (4.3%) and State Bank of India (3.7%) remained firm right through the session.
NTPC shot up by 4.7%. Maruti Suzuki gained nearly 4%. Hindustan Unilever (3.8%), Jaiprakash Associates (3.75%), Reliance Communications (2.65%), Tata Consultancy Services (2.35%) also ended with impressive gains. Wipro, Reliance Industries, ITC, Mahindra & Mahindra, DLF, ONGC and Tata Steel gained 1% - 2%. Infosys Technologies, HDFC, ACC and Reliance Infrastructure finished with modest gains.
-------------------------------------------------------------
Rupee up against dollar, gold recovers by Rs 60
Stocks rise ahead of trust vote
Max takes control in life insurance JV
Nuclear deal could benefit over 400 companies
Bombay High Court to hear RIL-RNRL gas dispute
UPA banks on 10 NDA abstentions
PEs, FIIs ready for big realty plunge
ExPolitical executive & corporate feuds
The bulls, despite some uncertain moments during the course of the day, had things going their way for the third successive session on the major Indian bourses today. Though US markets had closed on a mixed note after a choppy session last Friday, a firm trend on the Asian bourses aided the sentiment to an extent this morning.
However, after opening with a strong positive gap, the market declined sharply into the red this morning. But then, it did not stay long in the negative zone as hectic buying in bank, FMCG and a few other blue chip stocks lifted it up into the positive territory in a flash.
After moving in a volatile manner, the market did slip into the red again in early afternoon trade, but only for a short while. Frenzied buying at several front line counters saw the market gaining significant ground in the positive territory in late afternoon trade. A fairly good set of results from India Inc contributed to the buoyant mood this afternoon. Cipla, Dr. Reddy's Laboratories, SAIL, LIC Housing Finance, Punjab Tractors, HDIL and Indian Bank reported a sharp surge in their quarterly earnings. A fairly steady trend on the European markets also aided the bulls in afternoon trade.
Though the market appeared a bit slippery at times due to some cautious moves by the investors ahead of the crucial trust vote in parliament, good corporate earnings, a few big order wins reported by some top notch companies and short-covering kept the market in the positive territory for a considerable length of time today.
So sharp were the gains posted by blue chip stocks that the Sensex signed off with a handsome gain of 214.64 points or 1.57% at 13,850.04 today. In intra-day trades, the barometer touched a low of 13,581.19 and a high of 13,878.88. The Nifty, which swung in a range of around 95 points - it hit a high of 4168.15 and a low of 4072.75 in intra-day trades - closed with a gain of 67.25 points or 1.64% at 4159.50.
Bank and pharma stocks were among the biggest gainers today. Reflecting investor interest for stocks from these sectors, the Bankex and HC indices moved up by 3.88% and 3.03% respectively. Realty stocks bounced back after a mild setback in morning trade and mirroring the gains posted by key stocks in that space, the BSE Realty index advanced by 2.44%. The Auto, FMCG, PSU and Power indices moved up by 1% - 1.75%. Select metal and oil stocks edged higher. IT stocks turned easy after a fairly good show early on. Capital goods stocks found support elusive.
Pharma majors Cipla and Ranbaxy Laboratories ended stronger by 5.2% and 4.75% respectively. HDFC Bank (4.8%), ICICI Bank (4.3%) and State Bank of India (3.7%) remained firm right through the session.
NTPC shot up by 4.7%. Maruti Suzuki gained nearly 4%. Hindustan Unilever (3.8%), Jaiprakash Associates (3.75%), Reliance Communications (2.65%), Tata Consultancy Services (2.35%) also ended with impressive gains. Wipro, Reliance Industries, ITC, Mahindra & Mahindra, DLF, ONGC and Tata Steel gained 1% - 2%. Infosys Technologies, HDFC, ACC and Reliance Infrastructure finished with modest gains.
-------------------------------------------------------------
Rupee up against dollar, gold recovers by Rs 60
Stocks rise ahead of trust vote
Max takes control in life insurance JV
Nuclear deal could benefit over 400 companies
Bombay High Court to hear RIL-RNRL gas dispute
UPA banks on 10 NDA abstentions
PEs, FIIs ready for big realty plunge
ExPolitical executive & corporate feuds
Labels:
Sensex ends 215 pts,
top stories from ET
As good as it gets: Rel Petroluem
As good as it gets: Rel Petro
Despite a decline in investors’ confidence in the stock market and the turmoil in global financial markets over the past six months, there remain a few events which are eagerly awaited by all. One such event is the commissioning of Reliance Petroleum (RPL)’s refinery in Jamnagar special economic zone (SEZ) — which is being tracked not just by its 2 million shareholders and stock market experts, but by global energy analysts as well.
The project is expected to serve as an example for its speed of execution, low capital cost and high complexity. However, the strength in global gross refining margins (GRMs) is unlikely to persist going forward, due to rising refinery capacity across the world. Though the positives associated with RPL’s refinery are obvious, we believe its current valuations have limited upside left.
ADVANTAGES GALORE Low Capital Cost:
RPL is being set up at a capital cost of only Rs 27,000 crore, i.e. around $6.5 billion, but a similar-sized refinery will currently require almost twice this amount. This is due to the fact that over the past three years, a number of refinery projects have been launched across the world, resulting in higher costs of equipment and engineering services.
Fast Project Execution:
The project was originally scheduled to be completed in 36 months by September ’08, with commercial production due to start in December ’08. However, the company intends to prepone the deadlines. It has already completed more than 90% of the work and the pre-commissioning activities in the main process units are progressing rapidly. In fact, Mukesh Ambani assured shareholders at the company’s annual general meeting (AGM) last month that “the refinery is expected to be completed ahead of schedule.”
Ability To Earn Higher GRMs:
RPL’s refinery will have the ability to handle very heavy and high sulphur crude to produce the best quality products. Similarly, its product slate will be better, thanks to its ability to totally eliminate lowvalue products such as fuel oil. Considering that the heavy-light differential in crude prices has reached $20 a barrel, RPL will be able to earn higher GRMs compared to its peers.
Tax Sops:
The SEZ location and focus on exports will exempt RPL’s profits from income tax (IT) fully for the first five years. The I-T exemption will be 50% for the next five years.
LIMITED UPSIDE
After enjoying a high tide in the past few months, Asian GRMs are now weakening. The International Energy Agency (IEA) in its monthly report for June ’08 elaborated on this fact. “While diesel remains highly profitable, gasoline cracks remain subdued and fuel oil cracks have reached record lows.” Even production of naphtha is generating losses. When overall GRMs turn weak, it is feared that commissioning of RPL’s refinery will lead to a glut situation, thereby further bringing down GRMs. The supply from RPL’s new refinery will represent almost 50% of the estimated incremental global oil demand in ’09. Nearly 2 million bpd of global refining capacity (including RPL) is expected to commence in ’09, which will weigh heavily on the GRMs. RPL operates in a business where there is little scope for volume-led growth compensating for a fall in margins. Hence, if GRMs turn weak from the current levels, the company’s bottomline may shrink.
VALUATIONS
We estimate the refinery will earn a premium of around $9 per barrel over Singapore benchmark complex refining margins, which are expected to remain at around $8 per barrel during FY10. Considering interest and depreciation charges, the company’s full-year net profit at 85% capacity level will stand at Rs 6,365 crore. This translates into a price-to-earnings (P/E) multiple of 10.9 on the current market price of Rs 154. Since petroleum refining is a capital-intensive cyclical business, it has traditionally commanded a single-digit P/E globally. Another way of looking at valuations , is the replacement cost of the refinery. RPL’s current market capitalisation of Rs 69,300 crore is around 38% higher than the estimated cost of setting up a similar refinery. Similarly, at current m-cap , RPL’s enterprise value (EV) is 8.5 times its estimated EBIDTA for FY10, which is slightly on the higher side compared to the global average. Hence, we believe that the upside in RPL’s scrip is limited in the short run.
------------------------------------------------
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Book your copy: Vishal Information Technologies’ IPO
Long-term investors can hold, others can exit KSK Energy stock
Hospitality sector on the rise
Ratnamani Metals & Tubes attractive bet for investors
The mad world of gyrating equity market
Glimmer of hope in volatile markets
Source: ET
Despite a decline in investors’ confidence in the stock market and the turmoil in global financial markets over the past six months, there remain a few events which are eagerly awaited by all. One such event is the commissioning of Reliance Petroleum (RPL)’s refinery in Jamnagar special economic zone (SEZ) — which is being tracked not just by its 2 million shareholders and stock market experts, but by global energy analysts as well.
The project is expected to serve as an example for its speed of execution, low capital cost and high complexity. However, the strength in global gross refining margins (GRMs) is unlikely to persist going forward, due to rising refinery capacity across the world. Though the positives associated with RPL’s refinery are obvious, we believe its current valuations have limited upside left.
ADVANTAGES GALORE Low Capital Cost:
RPL is being set up at a capital cost of only Rs 27,000 crore, i.e. around $6.5 billion, but a similar-sized refinery will currently require almost twice this amount. This is due to the fact that over the past three years, a number of refinery projects have been launched across the world, resulting in higher costs of equipment and engineering services.
Fast Project Execution:
The project was originally scheduled to be completed in 36 months by September ’08, with commercial production due to start in December ’08. However, the company intends to prepone the deadlines. It has already completed more than 90% of the work and the pre-commissioning activities in the main process units are progressing rapidly. In fact, Mukesh Ambani assured shareholders at the company’s annual general meeting (AGM) last month that “the refinery is expected to be completed ahead of schedule.”
Ability To Earn Higher GRMs:
RPL’s refinery will have the ability to handle very heavy and high sulphur crude to produce the best quality products. Similarly, its product slate will be better, thanks to its ability to totally eliminate lowvalue products such as fuel oil. Considering that the heavy-light differential in crude prices has reached $20 a barrel, RPL will be able to earn higher GRMs compared to its peers.
Tax Sops:
The SEZ location and focus on exports will exempt RPL’s profits from income tax (IT) fully for the first five years. The I-T exemption will be 50% for the next five years.
LIMITED UPSIDE
After enjoying a high tide in the past few months, Asian GRMs are now weakening. The International Energy Agency (IEA) in its monthly report for June ’08 elaborated on this fact. “While diesel remains highly profitable, gasoline cracks remain subdued and fuel oil cracks have reached record lows.” Even production of naphtha is generating losses. When overall GRMs turn weak, it is feared that commissioning of RPL’s refinery will lead to a glut situation, thereby further bringing down GRMs. The supply from RPL’s new refinery will represent almost 50% of the estimated incremental global oil demand in ’09. Nearly 2 million bpd of global refining capacity (including RPL) is expected to commence in ’09, which will weigh heavily on the GRMs. RPL operates in a business where there is little scope for volume-led growth compensating for a fall in margins. Hence, if GRMs turn weak from the current levels, the company’s bottomline may shrink.
VALUATIONS
We estimate the refinery will earn a premium of around $9 per barrel over Singapore benchmark complex refining margins, which are expected to remain at around $8 per barrel during FY10. Considering interest and depreciation charges, the company’s full-year net profit at 85% capacity level will stand at Rs 6,365 crore. This translates into a price-to-earnings (P/E) multiple of 10.9 on the current market price of Rs 154. Since petroleum refining is a capital-intensive cyclical business, it has traditionally commanded a single-digit P/E globally. Another way of looking at valuations , is the replacement cost of the refinery. RPL’s current market capitalisation of Rs 69,300 crore is around 38% higher than the estimated cost of setting up a similar refinery. Similarly, at current m-cap , RPL’s enterprise value (EV) is 8.5 times its estimated EBIDTA for FY10, which is slightly on the higher side compared to the global average. Hence, we believe that the upside in RPL’s scrip is limited in the short run.
------------------------------------------------
Other INVESTOR GUIDE articles from ET
Perfect picks even in the worst of times
Jubilant Organosys’ good bet for long-term investors
Book your copy: Vishal Information Technologies’ IPO
Long-term investors can hold, others can exit KSK Energy stock
Hospitality sector on the rise
Ratnamani Metals & Tubes attractive bet for investors
The mad world of gyrating equity market
Glimmer of hope in volatile markets
Source: ET
Market glued to Tuesday's trust vote
Market glued to Tuesday's trust vote
D-St Outlook
The outcome of the crucial trust vote on Tuesday, which will not only decide the fate of the UPA government, but also Indo-US nuclear deal, will set the tone for equities this week. If the government fails the vote, it is expected to trigger the next major bout of selling, as investors are generally uncomfortable with unstable regimes. Going by the euphoria in the market in the last couple of sessions, also aided by declining global crude prices, it appears that investors expect the Congress-led UPA government to win the trust vote. Sentiment has been boosted by expectations that surviving the trust vote will prompt the UPA government to speed-up the languishing economic reforms process.
But, not everyone thinks the government’s survival in the trust vote would change India’s real economic conditions “Overall, it may well be that the Congress-led government survives the vote of confidence and limps on until 2009. However, there will be plenty of demand for populist action as each party, in what is likely to be a very unwieldy coalition, attempts to quickly make its mark before the general election,” said HSBC’s economists and strategists in a recent note.
Even if the market rallies, driven by the government’s survival in the trust vote, analysts believe upsides will be short-lived, as concerns such as inflation along with slowing economic and corporate profit growth remain. So far, for the first quarter, companies’ earnings have not sprung any positive surprises, with sales growth remaining stable, while profit growth getting squeezed.
“History suggests that the government’s ability to control growth and inflation is fairly limited and we suspect that it will go into the election with still high WPI (wholesale price index) inflation and softening economic activity,” the report added. As the week progresses, investor bets will likely shift to the outcome of RBI’s monetary policy review on July 29. Given that inflation has not mellowed, analysts expect the central bank to hike the repo rate as part of its attempts to contain prices. In the week to July 5, inflation, represented by the WPI index, rose to 11.91%, as against expectations of over 12% and up from 11.89% in the previous week. Banks and real estate shares may see build-up of short positions in the futures and options (F&O) markets ahead of the monetary policy review.
CLSA notes the 3,688-3,781 level marks an important pivot point for the Nifty, which closed at 4092.25 on Friday. Key corporate results this week include BHEL, Maruti Suzuki, Bharti Airtel, Reliance Industries, ACC, SAIL and Sesa Goa, among others. “These technical levels are important to take note of as they often mark the end of corrections. We would lighten up on existing short positions here. Initial resistance is provided by the August 2007 lows at 3,953-4,021 with key resistance found at 4,412-4,471,” the French brokerage said, in its recent trading strategy note.
Source: ET
D-St Outlook
The outcome of the crucial trust vote on Tuesday, which will not only decide the fate of the UPA government, but also Indo-US nuclear deal, will set the tone for equities this week. If the government fails the vote, it is expected to trigger the next major bout of selling, as investors are generally uncomfortable with unstable regimes. Going by the euphoria in the market in the last couple of sessions, also aided by declining global crude prices, it appears that investors expect the Congress-led UPA government to win the trust vote. Sentiment has been boosted by expectations that surviving the trust vote will prompt the UPA government to speed-up the languishing economic reforms process.
But, not everyone thinks the government’s survival in the trust vote would change India’s real economic conditions “Overall, it may well be that the Congress-led government survives the vote of confidence and limps on until 2009. However, there will be plenty of demand for populist action as each party, in what is likely to be a very unwieldy coalition, attempts to quickly make its mark before the general election,” said HSBC’s economists and strategists in a recent note.
Even if the market rallies, driven by the government’s survival in the trust vote, analysts believe upsides will be short-lived, as concerns such as inflation along with slowing economic and corporate profit growth remain. So far, for the first quarter, companies’ earnings have not sprung any positive surprises, with sales growth remaining stable, while profit growth getting squeezed.
“History suggests that the government’s ability to control growth and inflation is fairly limited and we suspect that it will go into the election with still high WPI (wholesale price index) inflation and softening economic activity,” the report added. As the week progresses, investor bets will likely shift to the outcome of RBI’s monetary policy review on July 29. Given that inflation has not mellowed, analysts expect the central bank to hike the repo rate as part of its attempts to contain prices. In the week to July 5, inflation, represented by the WPI index, rose to 11.91%, as against expectations of over 12% and up from 11.89% in the previous week. Banks and real estate shares may see build-up of short positions in the futures and options (F&O) markets ahead of the monetary policy review.
CLSA notes the 3,688-3,781 level marks an important pivot point for the Nifty, which closed at 4092.25 on Friday. Key corporate results this week include BHEL, Maruti Suzuki, Bharti Airtel, Reliance Industries, ACC, SAIL and Sesa Goa, among others. “These technical levels are important to take note of as they often mark the end of corrections. We would lighten up on existing short positions here. Initial resistance is provided by the August 2007 lows at 3,953-4,021 with key resistance found at 4,412-4,471,” the French brokerage said, in its recent trading strategy note.
Source: ET
Sensex companies valuation halved in six months
Sensex companies valuation halved in six months
BL Research Bureau For every rupee of earnings managed by BSE Sensex companies, investors are today willing to pay only half of what they paid in January 2008.
The market meltdown of 2008 has seen the Sensex value fall by 35 per cent till date, but it has halved the price-to-earnings multiple (PE multiple) for companies in the bellwether index.
The PE multiple of the Sensex, which was at a rich 28 times (based on historic 12-month earnings) at 21,000 levels, has plunged to a staid 14 times now, Bloomberg data shows. The lower valuation indicates that investors now expect Sensex companies to grow at only half the rate that they factored in, in January.
World over, investors value companies based on potential growth and the PE multiple is one of the widely used tools to evaluate how expensive or cheap stocks are, relative to their growth prospects. Worst in a decade
The erosion in Sensex PE multiple in this meltdown may be the worst in a decade, even including the dotcom crash of 2001. Banking and realty companies have been worst hit, with SBI seeing its PE multiple fall from 20 times to just 6, while DLF has seen its PE plunge from 90 times to 8 times.
Reliance Industries, Jaiprakash Associates, SBI, Tata Steel, Reliance Infrastructure (formerly Reliance Energy) and DLF, are among companies that have seen their PE multiples trimmed to half their January level.
Many of these companies have seen their valuation fall even as they managed a sharp ramp-up in their earnings for 2007-08. DLF (earnings per share grew from Rs 13 to Rs 47 between FY07 and FY08), Bharti Airtel (Rs 21 to Rs 34), HDFC (Rs 69 to Rs 100) are key instances. ‘De-rating’ stocks While concerns about rising interest rates have prompted investors to tone down growth expectations from bank and realty companies, worries about the economy slowing down have made them ‘de-rate’ infrastructure and capital goods stocks.
Companies in the Sensex basket that have managed to escape this bout of de-rating are Infosys, Satyam, Ranbaxy Labs, Cipla and Hindalco, which have more or less held on to their PE multiples.
Related Stories:
Indian market sheds more value than other emerging onesForeign brokerages downgrade Indian firmsAnalysts see investment opportunities as stocks take a sharp beating
Source: BL
BL Research Bureau For every rupee of earnings managed by BSE Sensex companies, investors are today willing to pay only half of what they paid in January 2008.
The market meltdown of 2008 has seen the Sensex value fall by 35 per cent till date, but it has halved the price-to-earnings multiple (PE multiple) for companies in the bellwether index.
The PE multiple of the Sensex, which was at a rich 28 times (based on historic 12-month earnings) at 21,000 levels, has plunged to a staid 14 times now, Bloomberg data shows. The lower valuation indicates that investors now expect Sensex companies to grow at only half the rate that they factored in, in January.
World over, investors value companies based on potential growth and the PE multiple is one of the widely used tools to evaluate how expensive or cheap stocks are, relative to their growth prospects. Worst in a decade
The erosion in Sensex PE multiple in this meltdown may be the worst in a decade, even including the dotcom crash of 2001. Banking and realty companies have been worst hit, with SBI seeing its PE multiple fall from 20 times to just 6, while DLF has seen its PE plunge from 90 times to 8 times.
Reliance Industries, Jaiprakash Associates, SBI, Tata Steel, Reliance Infrastructure (formerly Reliance Energy) and DLF, are among companies that have seen their PE multiples trimmed to half their January level.
Many of these companies have seen their valuation fall even as they managed a sharp ramp-up in their earnings for 2007-08. DLF (earnings per share grew from Rs 13 to Rs 47 between FY07 and FY08), Bharti Airtel (Rs 21 to Rs 34), HDFC (Rs 69 to Rs 100) are key instances. ‘De-rating’ stocks While concerns about rising interest rates have prompted investors to tone down growth expectations from bank and realty companies, worries about the economy slowing down have made them ‘de-rate’ infrastructure and capital goods stocks.
Companies in the Sensex basket that have managed to escape this bout of de-rating are Infosys, Satyam, Ranbaxy Labs, Cipla and Hindalco, which have more or less held on to their PE multiples.
Related Stories:
Indian market sheds more value than other emerging onesForeign brokerages downgrade Indian firmsAnalysts see investment opportunities as stocks take a sharp beating
Source: BL
20 July 2008
Stock Analysis from BusinessLine
STOCKS: Sanghvi Movers: Buy
Investors with a two-three year perspective can consider taking exposure to the stock of Sanghvi Movers, an established player in the business of renting out cranes.
STOCKS: Bajaj Auto: Hold
Shareholders can continue to hold the Bajaj Auto stock. Better domestic sales volumes in the first quarter, robust export growth and planned launches in the executive segment may positively impact the near-medium term ...
STOCKS: HCC: BuyA strong order pipeline, improved profit margins, benefits from recent business restructuring and removal of uncertainty surrounding the unique Bandra-Worli Sealink project, provide better visibility to the earnings growth of Hindustan ...
STOCKS: Shree Renuka Sugars: Buy
The domestic sugar cycle is set to enter a favourable phase for producers, with output expected to decline sharply over the next two years, lending support to sugar prices. ...
INCOME TAX: Tax liabilities on futures and options
TECHNICAL ANALYSIS: Index Outlook
FINANCIAL MARKETS: The long and short of rupee futures
INSIGHT: Why oil is on the boil
MUTUAL FUNDS: Franklin India Prima Fund: Switch
IPOS: Vishal Information Technologies - IPO: Avoid
STOCK MARKETS: Politics of the market
DERIVATIVES MARKETS: Nifty future at critical juncture
ECONOMY: Winding down
STOCK MARKETS: Baskets of X / STOCK MARKETS: Bull's Eye
Source: BL
Investors with a two-three year perspective can consider taking exposure to the stock of Sanghvi Movers, an established player in the business of renting out cranes.
STOCKS: Bajaj Auto: Hold
Shareholders can continue to hold the Bajaj Auto stock. Better domestic sales volumes in the first quarter, robust export growth and planned launches in the executive segment may positively impact the near-medium term ...
STOCKS: HCC: BuyA strong order pipeline, improved profit margins, benefits from recent business restructuring and removal of uncertainty surrounding the unique Bandra-Worli Sealink project, provide better visibility to the earnings growth of Hindustan ...
STOCKS: Shree Renuka Sugars: Buy
The domestic sugar cycle is set to enter a favourable phase for producers, with output expected to decline sharply over the next two years, lending support to sugar prices. ...
INCOME TAX: Tax liabilities on futures and options
TECHNICAL ANALYSIS: Index Outlook
FINANCIAL MARKETS: The long and short of rupee futures
INSIGHT: Why oil is on the boil
MUTUAL FUNDS: Franklin India Prima Fund: Switch
IPOS: Vishal Information Technologies - IPO: Avoid
STOCK MARKETS: Politics of the market
DERIVATIVES MARKETS: Nifty future at critical juncture
ECONOMY: Winding down
STOCK MARKETS: Baskets of X / STOCK MARKETS: Bull's Eye
Source: BL
Labels:
Stock Analysis from BusinessLine
19 July 2008
VC, PE updates
VCCircle.com
Citi In Talks With Oman Investment Corporation For HDFC Stake Sale: Report
RCOM, MTN Call Off Talks; Decision Mutual
Soma Networks Gets $51 Million From India Knowledge Fund, Others
Rabobank Announces First Closure Of $100-M Food & Agri Fund
Government May Quash Press Note 1; Will Help Foreign Partners
Essar Global To Invest Rs 590 Crore In Truck Maker Asia MotorWorks
Exit Time: Murugappa Sells 47% In Parryware To JV Partner For $176M
Siva Cries Foul Over Maxis’ Plans To Sell Aircel Stake
Forum Synergies To Raise $150 Million SME Fund
Khaleeji Commercial Bank Announces $430M Fund For Logistics City In Mumbai
Deepak Parekh Says Enough Takers For Citi Stake In HDFC
Unitech Raises $300 Million Real Estate Fund From Abroad
Avendus Gets Rs 100 Crore From Dubai’s Eastgate Capital
GE Commercial Finance Invests Rs 100 Crore In Controls & Switchgear
South Indian Franchisee Of Pizza Hut, KFC Topping Up A Deal With New Silk Route
Citi In Talks With Oman Investment Corporation For HDFC Stake Sale: Report
RCOM, MTN Call Off Talks; Decision Mutual
Soma Networks Gets $51 Million From India Knowledge Fund, Others
Rabobank Announces First Closure Of $100-M Food & Agri Fund
Government May Quash Press Note 1; Will Help Foreign Partners
Essar Global To Invest Rs 590 Crore In Truck Maker Asia MotorWorks
Exit Time: Murugappa Sells 47% In Parryware To JV Partner For $176M
Siva Cries Foul Over Maxis’ Plans To Sell Aircel Stake
Forum Synergies To Raise $150 Million SME Fund
Khaleeji Commercial Bank Announces $430M Fund For Logistics City In Mumbai
Deepak Parekh Says Enough Takers For Citi Stake In HDFC
Unitech Raises $300 Million Real Estate Fund From Abroad
Avendus Gets Rs 100 Crore From Dubai’s Eastgate Capital
GE Commercial Finance Invests Rs 100 Crore In Controls & Switchgear
South Indian Franchisee Of Pizza Hut, KFC Topping Up A Deal With New Silk Route
Parsvnath Picks Up 38% In Sabeer Bhatia’s Nanocity In Haryana
PE Funding Plans: Warburg-CGH, Balaji Telefilms, Sona Autocomp, Microqual
After The Spice Sale, Modis Hit Capital Market With Cellebrum
Capt. Gopinath Seeks $50 Million For His Cargo Venture
The $52-Billion InBev-Anheuser-Busch Deal To Shake Up India’s Beer Duopoly
UK’s Imperial Energy Confirms ONGC’s $2B-Interest
Bupa Asia-Pacific Picks Up 26% In Health Insurance JV With Max
R-ADAG’s Cement Foray: Who Could Be Their Targets?
Tata’s PE Plans: $200-300 Million Fund Each For Tech, Mid-Caps
Can KP Singh Bring Back The Magic With DLF Share Buyback?
Source: Vccircle.com
Reliance Communications-MTN mutually end tie-up talks
Reliance Communications-MTN mutually end tie-up talks
Reliance Communications and South Africa's MTN on Friday mutually ended tie-up talks after Mukesh Ambani-owned Reliance Industries (RIL) on Thursday started arbitration proceedings against younger brother Anil's RCom to thwart the latter’s merger with Africa’s largest telco. RCom said that it is unable to presently conclude the deal due to regulatory issues. The No. 2 mobile carrier in the country has been in exclusive talks with MTN since late May to create a top-10 global telecoms group spanning about two dozen countries. But a claim by elder brother Mukesh of first right of refusal on Reliance Communications shares had complicated prospects for a deal.
The dispute took a fresh turn on Thursday when Mukesh, who runs RIL started arbitration proceedings on the share claim. However, Reliance Communications investors on Friday shrugged off the latest twist in a family squabble clouding the group. A 45-day exclusivity period between RCom and MTN expired earlier this month and an extension was due to end on Monday. The talks have been overshadowed by the dispute and whether MTN would risk striking a deal which could then be beholden to India's judicial system.
MTN Deal: Bharti may be open to fresh talks
Airtel rings in lowest capex
ADAG & Bharti gearing for massive on air war
MTN saga: Tale of Ambanis and Sunil Mittal
Source: ET
Reliance Communications and South Africa's MTN on Friday mutually ended tie-up talks after Mukesh Ambani-owned Reliance Industries (RIL) on Thursday started arbitration proceedings against younger brother Anil's RCom to thwart the latter’s merger with Africa’s largest telco. RCom said that it is unable to presently conclude the deal due to regulatory issues. The No. 2 mobile carrier in the country has been in exclusive talks with MTN since late May to create a top-10 global telecoms group spanning about two dozen countries. But a claim by elder brother Mukesh of first right of refusal on Reliance Communications shares had complicated prospects for a deal.
The dispute took a fresh turn on Thursday when Mukesh, who runs RIL started arbitration proceedings on the share claim. However, Reliance Communications investors on Friday shrugged off the latest twist in a family squabble clouding the group. A 45-day exclusivity period between RCom and MTN expired earlier this month and an extension was due to end on Monday. The talks have been overshadowed by the dispute and whether MTN would risk striking a deal which could then be beholden to India's judicial system.
MTN Deal: Bharti may be open to fresh talks
Airtel rings in lowest capex
ADAG & Bharti gearing for massive on air war
MTN saga: Tale of Ambanis and Sunil Mittal
Source: ET
18 July 2008
Results: Satyam, Wipro, JPAsso, Cipla, IDFC, Guj.Nre.Coke, GEshipping, Chennai Petro, All.Bk etc
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
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
-------------------------------------------
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).
--------------------------------------------
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.
---------------------------------------------
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.
--------------------------------------------
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.
------------------------------------------
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.
------------------------------------------------
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.
-------------------------------------------------
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).
------------------------------------------------
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.
--------------------------------------------------
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.
--------------------------------------------------
Hikal Q1 net profit at Rs 10.7 cr
Rama Newsprint Q1 net profit at Rs 4.2 cr
-------------------------------------------------
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.
--------------------------------------------------
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.
-------------------------------------------------
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
Labels:
All.Bk etc,
Chennai Petro,
Cipla,
GEshipping,
Guj.Nre.Coke,
IDFC,
JPAsso,
Results: Satyam,
Wipro
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.
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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.
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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
17 July 2008
Results: Biocon, Polaris, ICIIndia Etc
Polaris Q1 net profit at Rs 27.01 cr
Polaris Software Lab has decalred its first quarter results. The company's Q1 net profit at Rs 27.01 crore versus Rs 21.45 crore, QoQ.
----------------------------------------
ICI India Q1 net profit up at Rs 70.9 cr
ICI India has declared its first quarter results. The company's Q1 net profit was up at Rs 70.9 crore versus Rs 22.8 crore.
--------------------------------------
State Bank of Bikaner net profit at Rs 65.31 cr
Omnitech profit up at 2.7% to Rs 8.84 cr
--------------------------------------
Unichem Labs Q1 net profit at Rs 33.4
Unichem Labs has announced its first quarter numbers. It has reported net profit of Rs 33.4 crore for the quarter ended June 2008 as against Rs 22.5 crore in same period of last year and net sales of Rs 181 crore versus Rs 153.5 crore YoY.
---------------------------------------------
Colgate Q1 standalone net profit at Rs 71.9 cr view table
Colgate Palmolive has announced its first quarter results. The company's Q1 standalone net profit was at Rs 71.9 crore versus Rs 60.9 crore.
-----------------------------------------------
Biocon Q1 profit at Rs 15cr, hit by MTM loss of Rs 26 cr view table
Biocon has announced its Q1 FY09 results. It's consolidated net profit was at Rs 15.02 crore versus Rs 52.8 crore. The net profit was hit by MTM loss of Rs 26 crore.
---------------------------------------------
Container Corporation of India Q1 net profit at Rs 201.8 cr
TCS Q1 cons net profit at Rs 1243.6 cr
HDFC Q1 net profit up at Rs 468.11 cr
SKF India's FY09 Q1 PAT at Rs 36.7 crore
Chambal Fert Q1 FY09 PAT was at Rs 23.8cr
----------------------------------------------
Biocon net profit declines 33.10% in the June 2008 quarter
Monsanto India net profit rises 24.97% in the June 2008 quarter
Polaris Software Lab net profit rises 45.37% in the June 2008 quarter
Maxwell Industries net profit declines 23.68% in the June 2008 quarter
Astral Poly Technik net profit rises 56.67% in the June 2008 quarter
West Coast Paper Mills net profit rises 4.31% in the June 2008 quarter
Hikal net profit rises 22.64% in the June 2008 quarter
Mount Everest Mineral Water reports net loss of Rs 4.59 crore in the June 2008 quarter
Chemplast Sanmar net profit declines 86.21% in the June 2008 quarter
Rama Newsprint & Paper net profit rises 36.77% in the June 2008 quarter
Foseco India net profit declines 12.82% in the June 2008 quarter
ICI India net profit rises 209.79% in the June 2008 quarter
State Bank of Bikaner and Jaipur net profit declines 7.95% in the June 2008 quarter
Unichem Laboratories net profit rises 48.36% in the June 2008 quarter
Omnitech Infosolutions net profit rises 126.92% in the June 2008 quarter
PTL Enterprises net profit rises 184.76% in the June 2008 quarter
Colgate-Palmolive India net profit rises 18.13% in the June 2008 quarter
Amrutanjan Health Care net profit declines 39.22% in the June 2008 quarter
Kirloskar Oil Engines net profit rises 7.68% in the June 2008 quarter
Jay Bharat Maruti net profit rises 11.48% in the June 2008 quarter
Source: Indiaearnings, Capitalmarket
Polaris Software Lab has decalred its first quarter results. The company's Q1 net profit at Rs 27.01 crore versus Rs 21.45 crore, QoQ.
----------------------------------------
ICI India Q1 net profit up at Rs 70.9 cr
ICI India has declared its first quarter results. The company's Q1 net profit was up at Rs 70.9 crore versus Rs 22.8 crore.
--------------------------------------
State Bank of Bikaner net profit at Rs 65.31 cr
Omnitech profit up at 2.7% to Rs 8.84 cr
--------------------------------------
Unichem Labs Q1 net profit at Rs 33.4
Unichem Labs has announced its first quarter numbers. It has reported net profit of Rs 33.4 crore for the quarter ended June 2008 as against Rs 22.5 crore in same period of last year and net sales of Rs 181 crore versus Rs 153.5 crore YoY.
---------------------------------------------
Colgate Q1 standalone net profit at Rs 71.9 cr view table
Colgate Palmolive has announced its first quarter results. The company's Q1 standalone net profit was at Rs 71.9 crore versus Rs 60.9 crore.
-----------------------------------------------
Biocon Q1 profit at Rs 15cr, hit by MTM loss of Rs 26 cr view table
Biocon has announced its Q1 FY09 results. It's consolidated net profit was at Rs 15.02 crore versus Rs 52.8 crore. The net profit was hit by MTM loss of Rs 26 crore.
---------------------------------------------
Container Corporation of India Q1 net profit at Rs 201.8 cr
TCS Q1 cons net profit at Rs 1243.6 cr
HDFC Q1 net profit up at Rs 468.11 cr
SKF India's FY09 Q1 PAT at Rs 36.7 crore
Chambal Fert Q1 FY09 PAT was at Rs 23.8cr
----------------------------------------------
Biocon net profit declines 33.10% in the June 2008 quarter
Monsanto India net profit rises 24.97% in the June 2008 quarter
Polaris Software Lab net profit rises 45.37% in the June 2008 quarter
Maxwell Industries net profit declines 23.68% in the June 2008 quarter
Astral Poly Technik net profit rises 56.67% in the June 2008 quarter
West Coast Paper Mills net profit rises 4.31% in the June 2008 quarter
Hikal net profit rises 22.64% in the June 2008 quarter
Mount Everest Mineral Water reports net loss of Rs 4.59 crore in the June 2008 quarter
Chemplast Sanmar net profit declines 86.21% in the June 2008 quarter
Rama Newsprint & Paper net profit rises 36.77% in the June 2008 quarter
Foseco India net profit declines 12.82% in the June 2008 quarter
ICI India net profit rises 209.79% in the June 2008 quarter
State Bank of Bikaner and Jaipur net profit declines 7.95% in the June 2008 quarter
Unichem Laboratories net profit rises 48.36% in the June 2008 quarter
Omnitech Infosolutions net profit rises 126.92% in the June 2008 quarter
PTL Enterprises net profit rises 184.76% in the June 2008 quarter
Colgate-Palmolive India net profit rises 18.13% in the June 2008 quarter
Amrutanjan Health Care net profit declines 39.22% in the June 2008 quarter
Kirloskar Oil Engines net profit rises 7.68% in the June 2008 quarter
Jay Bharat Maruti net profit rises 11.48% in the June 2008 quarter
Source: Indiaearnings, Capitalmarket
Labels:
ICIIndia Etc,
Polaris,
Results: Biocon
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