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31 July 2008

Results: Suzlon, Yesbk,Fintech,CBI,Daburpharma, JSW steel,Titan, NALCO,Videocon, PSTL,Adlabs etc

29 July 2008

Results: NTPC,HeroHonda,Jetair,Punj Lloyd,REC,Ranbaxy,CorpBk,Praj,SakthiSugars,MLL, Rajesh Exports,Areva

Hero Honda Motors net profit rises 43.74% in the June 2008 quarter

NTPC net profit declines 27.15% in the June 2008 quarter

Jet Airways Q1 standalone net rises 4.64 times

Ashok Leyland net profit declines 42.66% in the June 2008 quarter

Punj Lloyd net profit rises 296.79% in the June 2008 quarter

Ankit Metal & Power net profit rises 84.75% in the June 2008 quarter

Rural Electrification Corporation reports net profit of Rs 272.56 crore in the June 2008 quarter

Titagarh Wagons reports net profit of Rs 24.07 crore in the June 2008 quarter

Visa Steel net profit rises 845.61% in the June 2008 quarter

Bhansali Engineering Polymers net profit declines 43.73% in the June 2008 quarter

Nitin Fire Protection Industries net profit rises 75.34% in the June 2008 quarter

Shiv-Vani Oil & Gas Exploration Services net profit rises 115.87% in the June 2008 quarter

KEI Industries net profit declines 40.82% in the June 2008 quarter

Television Eighteen India net profit rises 17.41% in the June 2008 quarter

Deccan Chronicle Holdings net profit declines 27.19% in the June 2008 quarter

Ranbaxy Laboratories net profit declines 91.85% in the June 2008 quarter

Corporation Bank net profit rises 4.06% in the June 2008 quarter

Praj Industries net profit declines 12.70% in the June 2008 quarter

Sunil Hitech Engineers net profit rises 97.97% in the June 2008 quarter

India Infoline reports net profit of Rs 41.18 crore in the June 2008 quarter

Mundra Port & Special Economic Zone net profit rises 256.44% in the June 2008 quarter

Bank of Maharashtra net profit declines 42.84% in the June 2008 quarter

Omaxe net profit declines 14.55% in the June 2008 quarter

Harrisons Malayalam net profit rises 1308.33% in the June 2008 quarter

Selan Explorations Technology net profit rises 478.57% in the June 2008 quarter

GIC Housing Finance net profit rises 18.50% in the June 2008 quarter

Jain Irrigation Systems net profit rises 4.75% in the June 2008 quarter

Sanghvi Movers net profit rises 56.34% in the June 2008 quarter

Sundaram Finance net profit rises 59.11% in the June 2008 quarter

UTV Software Communications net profit rises 17.07% in the June 2008 quarter

Torrent Pharmaceuticals net profit rises 54.96% in the June 2008 quarter

GVK Power & Infrastructure net profit rises 20.00% in the June 2008 quarter

Sadbhav Engineering net profit rises 33.57% in the June 2008 quarter

Rashtriya Chemicals & Fertilizers net profit rises 147.21% in the June 2008 quarter

Jay Shree Tea & Industries net profit rises 273.13% in the June 2008 quarter

Punjab Chemicals & Crop Protection net profit rises 802.06% in the June 2008 quarter

Hotel Leela Venture net profit rises 10.84% in the June 2008 quarter

Asian Granito India net profit rises 64.31% in the June 2008 quarter

Deepak Fertilizers & Petrochemicals Corp net profit rises 98.76% in the June 2008 quarter

Cadila Healthcare net profit declines 16.17% in the June 2008 quarter

Godawari Power & Ispat net profit rises 81.71% in the June 2008 quarter

D S Kulkarni Developers net profit declines 27.57% in the June 2008 quarter

Sakthi Sugars net profit rises 359.18% in the June 2008 quarter

Manugraph India net profit rises 30.73% in the June 2008 quarter

Mukand net profit declines 15.45% in the June 2008 quarter

Areva T&D India net profit rises 70.83% in the June 2008 quarter

Finolex Industries net profit declines 52.06% in the June 2008 quarter

National Fertilizer net profit rises 159.02% in the June 2008 quarter

Subex reports net loss of Rs 58.34 crore in the June 2008 quarter

GlaxoSmithkline Consumer Healthcare net profit rises 9.15% in the June 2008 quarter

Thomas Cook (India) net profit rises 52.68% in the June 2008 quarter

Rajesh Exports net profit declines 18.27% in the June 2008 quarter

Hexaware Technologies net profit declines 90.22% in the June 2008 quarter

Mercator Lines net profit declines 74.67% in the June 2008 quarter

KRBL net profit rises 23308.33% in the June 2008 quarter

Tamil Nadu Newsprint & Papers net profit rises 3.88% in the June 2008 quarter

Source:CM,Myiris.com

Sensex sinks 558 points, RBI hikes Repo rate by 50 bps, CRR by 25 bps

RBI hikes interest rates / RBI hikes repo rate by 50 bps, CRR by 25 bps

Sensex sinks 558 points as RBI hikes rates

Challenged by unrelenting inflationary pressures, the Reserve Bank of India on Tuesday announced stringent measures of hiking mandatory cash reserve of the banks and its short-term lending rate to them to suck up an estimated Rs 8,000 crore (Rs 80 billion).

Presenting the first quarter review of the annual statement on Credit and Monetary Policy for the year 2008-09 on Monday, RBI Governor Y V Reddy hiked cash reserve ratio by 0.25 per cent to 8.75 per cent and the short-term lending (repo) rate by 0.50 pre cent to 9.00 per cent.
According to analysts the move could make loans dearer for housing, car and personal expenses as also to the industry.

Highlights
Bank Rate kept unchanged.
Reverse Repo Rate under LAF kept unchanged.
Repo Rate increased by 50 basis points from 8.5 per cent to 9.00 per cent.
Cash Reserve Ratio to be increased by 25 basis points to 9.0 per cent with effect from the fortnight beginning August 30, 2008.
GDP growth projection for 2008-09 revised from the range of 8.0-8.5 per cent to around 8.0 per cent, barring domestic or external shocks.
While the policy actions would aim to bring down the current intolerable level of inflation to a tolerable level of below 5.0 per cent as soon as possible and around 3.0 per cent over the medium-term, at this juncture a realistic policy endeavour would be to bring down inflation from the current level of about 11.0-12.0 per cent to a level close to 7.0 per cent by March 31, 2009.
While there are early signs of some moderation in money supply and deposit growth, they continue to expand above the indicative projections warranting continuous vigilance and appropriate and timely policy responses.
In view of the evolving environment of heightened uncertainty in global markets and the dangers of potential spillovers to domestic markets, liquidity management will continue to receive priority in the hierarchy of policy objectives over the period ahead.

Barring the emergence of any adverse and unexpected developments in various sectors of the economy, assuming that capital flows are effectively managed, and keeping in view the current assessment of the economy including the outlook for growth and inflation, the overall stance of monetary policy in 2008-09 will broadly continue to be:
To ensure a monetary and interest rate environment that accords high priority to price stability, well-anchored inflation expectations and orderly conditions in financial markets while being conducive to continuation of the growth momentum.
To respond swiftly on a continuing basis to the evolving constellation of adverse international developments and to the domestic situation impinging on inflation expectations, financial stability and growth momentum, with both conventional and unconventional measures, as appropriate.
To emphasise credit quality as well as credit delivery, in particular, for employment-intensive sectors, while pursuing financial inclusion.

Domestic Developments
Real GDP growth in 2007-08 was revised upwards to 9.0 per cent by the Central Statistical Organisation (CSO) in its end-May 2008 estimates from the advance estimates of 8.7 per cent released in February 2008.
Inflation, measured by variations in the wholesale price index (WPI) on a year-on-year basis, increased to 11.89 per cent as on July 12, 2008 from 7.75 per cent as at end-March 2008 and 4.76 per cent a year ago.
On a year-on-year basis, inflation based on the consumer price index (CPI) for agricultural labourers and rural labourers increased to 8.8 per cent and 8.7 per cent, respectively, in June 2008 from 7.8 per cent and 7.5 per cent a year ago.
Year-on-year inflation based on CPI for industrial workers and urban non-manual employees stood at 7.8 per cent and 6.8 per cent, respectively, in May 2008 as compared with 6.6 per cent and 6.8 per cent a year ago.
The CPI-based inflation measures have increased in the range of 2.0-3.2 percentage points over their levels in January 2008.
The price of the Indian basket of crude oil increased from US $ 99.4 per barrel in March 2008 to US $ 129.8 in June 2008 and further to US $ 141.5 on July 3, 2008 before declining to US $ 121.9 on July 25, 2008.
Money supply (M3) increased by 20.5 per cent on a year-on-year basis on July 4, 2008, lower than 21.8 per cent a year ago.
The year-on-year growth in aggregate deposits of scheduled commercial banks (SCBs) at 21.7 per cent (Rs.5,89,646 crore) up to July 4, 2008 was lower than 24.6 per cent (Rs.5,36,617 crore) a year ago.
Up to July 4, 2008 non-food credit of scheduled commercial banks (SCBs) rose by 25.9 per cent (Rs.4,85,709 crore) on a year-on-year basis, higher than 24.6 per cent (Rs.3,69,109 crore) a year ago.
Public sector oil marketing companies have been provided US $ 4.3 billion (Rs.19,325 crore) against oil bonds purchased under the Special Market Operation (SMO) scheme up to July 25, 2008.
The total overhang of liquidity as reflected in the balances under the LAF, the MSS and the Central Government?s cash balances taken together declined from an average of Rs.2,42,370 crore in April 2008 to Rs.2,12,201 crore in May 2008 and Rs.1,93,726 crore in June 2008 (with an intra-year peak of Rs.2,93,048 crore on April 8, 2008) before declining to Rs.1,45,200 crore on July 25, 2008.
Financial markets reflected the changes in liquidity conditions during the first quarter of 2008-09.
Yields in the Government securities market hardened substantially during the current financial year in both primary and secondary segments.
Deposit rates of SCBs increased, particularly at the longer end of the maturity spectrum, during the first four months of 2008-09 (up to July 25).
The equity markets witnessed a major downturn in both the primary and secondary segments during the current financial year so far, continuing the moderation that had set in by early January 2008.
Commercial banks? holdings of Government and other approved securities was 27.7 per cent of the banking system?s net demand and time liabilities (NDTL) which was marginally lower than 27.8 per cent at end-March 2008 and 28.7 per cent a year ago.
Gross market borrowings of the Central Government through dated securities at Rs.72,000 crore (Rs.73,000 crore a year ago) during 2008-09 so far (up to July 25, 2008), constituted 41.0 per cent of the budget estimates (BE) whereas net market borrowings at Rs.47,982 crore (Rs.45,232 crore a year ago) constituted 48.5 per cent of the BE.

For more, Visit: RBI hikes interest rates

India Inc worried over RBI's monetary steps/ Housing, consumer loans to become costlier

RBI trims GDP growth rate to 8% /Reactions to Credit Policy

Market gets a triple policy booster/ Interest rates may rise as RBI tightens monetary policy

-------------------------------------------

Bank, realty, auto and capital goods stocks went into a tailspin this afternoon as the Apex bank hiked CRR and Repo rates by 25 and 50 basis points respectively to 9 per cent to control inflation.

The hike in rates and concerns voiced by the central bank of the country about high inflation kept the market deep down in the red right till the end of the session today. There were some good results from India Inc, but then, with global markets also not displaying any strength, participants were in no mood to turn buyers today.

The Sensex, mirroring the sharp fall in prices of front line stocks, ended the day with a massive loss of 557.57 points or 3.89% at 13,791.54. In intra-day trades today, the barometer touched a high of 14,153.12 and a low of 13,727.14.

The National Stock Exchange's 50 stock Nifty index, which swung in a range of nearly 175 points - it hit a high of 4332.20 and a low of 4159.15 today - settled at 4189.85 with a huge loss of 142.25 points or 3.28%.

Reflecting the sharp fall of bank stocks, the Bankex nosedived 8.31% today. The Realty barometer went down by over 5.5%. The Capital Goods index lost 4.92%. The Power and Auto indices eased by over 4%. BSE Oil & Gas (down 3.62%), PSU (down 3.12%), Metal (down 1.91%), HC (down 1.65%), Teck (down 1.59%) and CD (down 1.07%) also closed sharply lower.

The IT index, thanks to the smart rally at a few counters, trimmed down its losses significantly and ended just 0.51% down today. The FMCG index closed with a slender gain. Banking sector heavyweights HDFC Bank (down 8.7%), ICICI Bank (down 8.45%) and State Bank of India (down 6.8%) declined sharply.

---------------------------------------------

Source: SIfy, Rediff

VC,PE updates

Guggenheim Partners Aquires Thomas Weisel’s Fund of Funds In India
KKR To List In NYSE Later This Year; May Be Valued At $15 to $19 Billion
“Early Stage Focus Will Remain, But More Money At Our Disposal”

Erasmic Merges With Accel Partners; To Raise $60 Million Fund Later This Year
SUN-Apollo Ventures Invests $75 Million In Amrapali Group
Federal Bank Buys 5% In Catholic Syrian Bank; Eyes Full Stake: Report

Ajay Relan Exits Citi Venture, PR Srinivasan Takes Over As India Head
Citi Venture, ICICI Venture Take Hair Cut In Perlecan Pharma
CDC Group Commits $185 Million To Six PE Funds In India

India Focussed Hedge Fund Down 22% in 2008, Hedge Fund Industry Suffers Huge Losses Donald Trump Jr Plans $1 Billion India Property Fund
ICICI Venture Opens Investment Office In Delhi; Posts 2 Senior Directors

Canbank, LIC Housing Fin Plan Rs 500 Cr Venture Capital Funds Each
JM Financial Mutual Fund Sells 12% To Hedge Funds For $26M
BCCL Picks Up Stake In Shopping Comparison Portal Naaptol.com

Edelweiss Distressed Fund To Raise Upto $400 Million
Diageo In Talks With Cobra Beer To Acquire 30% Stake: Report
Phoenix Mills To Shed 30% In Its Hopsitality Arm To PE Funds For $250M

ADAG Group Raises $1bn From Chinese Banks For Sasan; Forms JV With Shanghai Electric
Mayfield, SVB Put In $11M In Geodesic Techniques
iYogi Nets $9.5M Series B From SAP Ventures, Canaan & SVB

Educomp Acquires 76% In College Finishing School For $2.75 Million
Intel Capital Invests $17M In Yatra.com, BuzzInTown And An OOH Firm
Bahrain-Based TAIB Bank Picks Up 26% Stake In Anant Raj Projects For $50M

Gopinath In Talks To Acquire Chennai-Based Crescent Air Cargo
A Quick VC Take On Proto Startups
Yatra Capital Invests $7 Million In Kolkata Hotel Property To Be Managed By Taj
****************************************
PE fund picks 40% in Amrapali SPV
Accel Partners and Erasmic Venture Fund Team Up, Launch Accel India Venture Fund
Bear market turns PE attractive, 150 deals likely in Q3

Federal Bank picks up 5% in Catholic Syrian Bank
Times of India group eyes UK's Trinity Mirror
JM to sell stake to Valiant Capital , Blue Ridge and Eton Park

BCCL picks up stake in Naaptol Online
Educomp to buy 76 pc stake in A-Plus Education
Milestone to launch Rs 600 cr PE fund

Dawnay Day to sell 50% India stake
Edelweiss arm plans $200-m distressed asset fund
Intel Capital to invest USD 17 Mn in 3 Indian Firms

iYogi bags $9.5 mn from SAP-led VCs in second round funding
Diageo in talks to buy 30% stake in Cobra for $100 mn
Rolta to buy US firm

Source: IndiaPe, VCCircle

Ranbaxy is India's biggest pharma firm29

Ranbaxy is India's biggest pharma firm

29 Jul, 2008, 0645 hrs IST, RUPALI MUKHERJEE,TNN

Ranbaxy has emerged as the leader in the domestic pharmaceutical retail market, with a share of 5.2% for the April to June quarter. It also maintained the top slot in each of the past three months, with a share of 5% in June, higher than the last year's market leader Cipla's share of 4.9% during the same month.

During the April to June quarter, Cipla occupied the second slot with a share of 5.1%, growing by 9%. While Ranbaxy registered the highest growth of over 18% during the quarter, while in June alone, it had a growth of over 15%. Overall the pharma market valued at nearly Rs 33,000 crore, slowed down in terms of growth at 6.2% in June, as against 7.5% growth in the previous month, according to ORG-IMS. The highly-competitive market witnessed a growth of nearly 9% during the quarter ended June.

One of the major growth drivers during the second quarter was the sale of anti-infective drugs, which registered a huge spurt due to the "freak' ' weather conditionsa short winter and an early onset of rains in the north. The primary growth drivers for anti-infectives were semi-synthetic penicillins (such as ampicillin, amoxycillin), quinolones and high-end injectables. "A shorter winter season coupled with an increase in the incidence of viral infections where anti-infectives are given led to the boost in the growth of these segments, and for Ranbaxy,'' a company official said. Companies, which have a strong portfolio of anti-infectives got a leg-up in sales during the period, industry experts say.

The third slot in June was occupied by GlaxoSmithKline with a share of 4.59% of the market, followed by Piramal Healthcare (Nicholas Piramal) at 3.78% and Zydus Cadila at the fifth position with 3.59% share. While GSK grew by a meagre 2.5%, drug major Piramal Healthcare by a huge 14%, presumably on the back of its strongest brands, Phensedyl Cough syrup during the month. However, Zydus Cadila had a de-growth of 0.6% during the month. During the quarter, GSK slumped slightly by 0.6%, while Piramal Healthcare grew by 4% and Zydus by a meagre 0.4%, according to figures by ORG-IMS.

Source: Times of India, ET

28 July 2008

Results: ONGC, Larsen Toubro, BOI, IOB,HDFCBk,Sun Pharma, Sterlite, Hindalco, Neyveli, Adani, Dabur, BPCL, DenaBk, KotakBk, Bhusan Steel, Rohit ferro

Oil & Natural Gas Corpn net profit rises 43.94% in the June 2008 quarter
Net profit of Oil & Natural Gas Corpn rose 43.94% to Rs 6636.33 crore in the quarter ended June 2008 as against Rs 4610.53 crore during the previous quarter ended June 2007. Sales rose 46.50% to Rs 20052.20 crore in the quarter ended June 2008 as against Rs 13687.70 crore during the previous quarter ended June 2007.

Larsen & Toubro net profit rises 33.33% in the June 2008 quarter
Net profit of Larsen & Toubro rose 33.33% to Rs 502.44 crore in the quarter ended June 2008 as against Rs 376.85 crore during the previous quarter ended June 2007. Sales rose 53.19% to Rs 6901.43 crore in the quarter ended June 2008 as against Rs 4505.21 crore during the previous quarter ended June 2007.

Sun Pharmaceuticals Industries net profit rises 24.58% in the June 2008 quarter
Net profit of Sun Pharmaceuticals Industries rose 24.58% to Rs 280.78 crore in the quarter ended June 2008 as against Rs 225.39 crore during the previous quarter ended June 2007. Sales rose 30.42% to Rs 899.98 crore in the quarter ended June 2008 as against Rs 690.05 crore during the previous quarter ended June 2007.

Sterlite Industries Q1 PAT Rs 1151 cr
(Cons and Standalone)
Sterlite Industries has announced its Q1FY09 results. The consolidated net profit was at Rs 1151 crore versus Rs 1143 crore.The consolidated net sales was at Rs 5,770 crore versus Rs 6,139.1 crore.
Net profit of Sterlite Industries (India) rose 77.67% to Rs 357.93 crore in the quarter ended June 2008 as against Rs 201.46 crore during the previous quarter ended June 2007. Sales declined 4.83% to Rs 2964.43 crore in the quarter ended June 2008 as against Rs 3115.00 crore during the previous quarter ended June 2007.

Hindalco Industries net profit rises 15.57% in the June 2008 quarter
Net profit of Hindalco Industries rose 15.57% to Rs 696.76 crore in the quarter ended June 2008 as against Rs 602.90 crore during the previous quarter ended June 2007. Sales declined 0.65% to Rs 4647.53 crore in the quarter ended June 2008 as against Rs 4677.90 crore during the previous quarter ended June 2007.

Sun TV Network net profit rises 10.18% in the June 2008 quarter
Net profit of Sun TV Network rose 10.18% to Rs 102.54 crore in the quarter ended June 2008 as against Rs 93.07 crore during the previous quarter ended June 2007. Sales rose 10.49% to Rs 223.57 crore in the quarter ended June 2008 as against Rs 202.34 crore during the previous quarter ended June 2007.

Bharat Petroleum Corporation reports net loss of Rs 1066.70 crore in the June 2008 quarter
Bharat Petroleum Corporation reported net loss of Rs 1066.70 crore in the quarter ended June 2008 as against net profit of Rs 192.70 crore during the previous quarter ended June 2007. Sales rose 63.48% to Rs 39022.00 crore in the quarter ended June 2008 as against Rs 23869.40 crore during the previous quarter ended June 2007

Neyveli Lignite Corporation net profit rises 1.59% in the June 2008 quarter
Net profit of Neyveli Lignite Corporation rose 1.59% to Rs 285.83 crore in the quarter ended June 2008 as against Rs 281.37 crore during the previous quarter ended June 2007. Sales rose 39.81% to Rs 1087.14 crore in the quarter ended June 2008 as against Rs 777.58 crore during the previous quarter ended June 2007.

Adani Enterprises net profit rises 47.41% in the June 2008 quarter
Net profit of Adani Enterprises rose 47.41% to Rs 66.97 crore in the quarter ended June 2008 as against Rs 45.43 crore during the previous quarter ended June 2007. Sales rose 23.39% to Rs 2394.80 crore in the quarter ended June 2008 as against Rs 1940.87 crore during the previous quarter ended June 2007.

Tata Tea net profit declines 8.54% in the June 2008 quarter
Net profit of Tata Tea declined 8.54% to Rs 37.71 crore in the quarter ended June 2008 as against Rs 41.23 crore during the previous quarter ended June 2007. Sales rose 12.24% to Rs 314.97 crore in the quarter ended June 2008 as against Rs 280.61 crore during the previous quarter ended June 2007.

Dabur India net profit rises 25.32% in the June 2008 quarter
Net profit of Dabur India rose 25.32% to Rs 70.14 crore in the quarter ended June 2008 as against Rs 55.97 crore during the previous quarter ended June 2007. Sales rose 12.79% to Rs 524.17 crore in the quarter ended June 2008 as against Rs 464.73 crore during the previous quarter ended June 2007.

ICSA (India) net profit rises 71.28% in the June 2008 quarter

Blue Star net profit rises 63.13% in the June 2008 quarter
Net profit of Blue Star rose 63.13% to Rs 36.41 crore in the quarter ended June 2008 as against Rs 22.32 crore during the previous quarter ended June 2007. Sales rose 36.48% to Rs 630.89 crore in the quarter ended June 2008 as against Rs 462.25 crore during the previous quarter ended June 2007.

Dena Bank net profit rises 22.89% in the June 2008 quarter
Net profit of Dena Bank rose 22.89% to Rs 68.30 crore in the quarter ended June 2008 as against Rs 55.58 crore during the previous quarter ended June 2007. Total operating income rose 22.35% to Rs 767.46 crore in the quarter ended June 2008 as against Rs 627.25 crore during the previous quarter ended June 2007

HDFC Bank net profit rises 44.55% in the June 2008 quarter
Net profit of HDFC Bank rose 44.55% to Rs 464.35 crore in the quarter ended June 2008 as against Rs 321.23 crore during the previous quarter ended June 2007. Total operating income rose 70.36% to Rs 3621.73 crore in the quarter ended June 2008 as against Rs 2125.88 crore during the previous quarter ended June 2007.

Glenmark Pharmaceuticals net profit rises 16.98% in the June 2008 quarter

Bhushan Steel net profit rises 35.19% in the June 2008 quarter
Net profit of Bhushan Steel rose 35.19% to Rs 132.68 crore in the quarter ended June 2008 as against Rs 98.14 crore during the previous quarter ended June 2007. Sales rose 40.70% to Rs 1319.79 crore in the quarter ended June 2008 as against Rs 938.03 crore during the previous quarter ended June 2007.

Bharati Shipyard net profit rises 33.51% in the June 2008 quarter
Net profit of Bharati Shipyard rose 33.51% to Rs 29.68 crore in the quarter ended June 2008 as against Rs 22.23 crore during the previous quarter ended June 2007. Sales rose 42.51% to Rs 222.32 crore in the quarter ended June 2008 as against Rs 156.00 crore during the previous quarter ended June 2007.

Bannari Amman Sugars net profit rises 167.02% in the June 2008 quarter
Net profit of Bannari Amman Sugars rose 167.02% to Rs 20.40 crore in the quarter ended June 2008 as against Rs 7.64 crore during the previous quarter ended June 2007. Sales rose 28.40% to Rs 176.88 crore in the quarter ended June 2008 as against Rs 137.76 crore during the previous quarter ended June 2007.

Monnet Ispat Energy net profit rises 52.74% in the June 2008 quarter
Net profit of Monnet Ispat Energy rose 52.74% to Rs 70.32 crore in the quarter ended June 2008 as against Rs 46.04 crore during the previous quarter ended June 2007. Sales rose 61.52% to Rs 378.81 crore in the quarter ended June 2008 as against Rs 234.53 crore during the previous quarter ended June 2007.

Rohit Ferro Tech net profit rises 428.45% in the June 2008 quarter
Net profit of Rohit Ferro Tech rose 428.45% to Rs 50.15 crore in the quarter ended June 2008 as against Rs 9.49 crore during the previous quarter ended June 2007. Sales rose 209.64% to Rs 309.67 crore in the quarter ended June 2008 as against Rs 100.01 crore during the previous quarter ended June 2007.

Bank of India net profit rises 78.28% in the June 2008 quarter
Net profit of Bank of India rose 78.28% to Rs 561.95 crore in the quarter ended June 2008 as against Rs 315.20 crore during the previous quarter ended June 2007. Total operating income rose 30.11% to Rs 3548.32 crore in the quarter ended June 2008 as against Rs 2727.26 crore during the previous quarter ended June 2007.

Indian Overseas Bank net profit declines 4.66% in the June 2008 quarter
Net profit of Indian Overseas Bank declined 4.66% to Rs 255.97 crore in the quarter ended June 2008 as against Rs 268.49 crore during the previous quarter ended June 2007. Total operating income rose 20.09% to Rs 2217.08 crore in the quarter ended June 2008 as against Rs 1846.20 crore during the previous quarter ended June 2007.

Glaxosmithkline Pharma net profit rises 19.11% in the June 2008 quarter

Kotak Mahindra Bank net profit rises 14.37% in the June 2008 quarter
Net profit of Kotak Mahindra Bank rose 14.37% to Rs 54.53 crore in the quarter ended June 2008 as against Rs 47.68 crore during the previous quarter ended June 2007. Total operating income rose 41.06% to Rs 712.46 crore in the quarter ended June 2008 as against Rs 505.09 crore during the previous quarter ended June 2007.

Cinemax India net profit rises 63.93% in the June 2008 quarter
IBN18 Broadcast reports net loss of Rs 9.46 crore in the June 2008 quarter
NEPC Textiles net profit declines 88.24% in the June 2008 quarter
Nirma net profit declines 3.92% in the June 2008 quarter
L T Overseas net profit rises 49.01% in the June 2008 quarter

Wockhardt net profit declines 66.21% in the June 2008 quarter
Jyoti Structures net profit rises 28.13% in the June 2008 quarter
Aarti Drugs net profit rises 59.80% in the June 2008 quarter
TVS Motor Company net profit declines 7.02% in the June 2008 quarter
Havells India net profit rises 28.89% in the June 2008 quarter

Raj Television Network net profit rises 7.90% in the June 2008 quarter
Hindustan Oil Exploration Company net profit rises 16.45% in the June 2008 quarter
Britannia Industries net profit rises 11.63% in the June 2008 quarter
Mahindra Lifespace Developers net profit declines 20.08% in the June 2008 quarter

Man Industries (India) net profit declines 16.31% in the June 2008 quarter
Saksoft net profit rises 16.24% in the June 2008 quarter
L G Balakrishnan & Bros net profit rises 84.35% in the June 2008 quarter
K S Oils net profit rises 73.74% in the June 2008 quarter
Man Aluminium net profit rises 11.76% in the June 2008 quarter

Graphite India net profit rises 1.58% in the June 2008 quarter
Dish TV India reports net loss of Rs 125.44 crore in the June 2008 quarter
Precision Wires India net profit rises 24.86% in the June 2008 quarter
Dewan Housing Finance Corporation net profit rises 38.53% in the June 2008 quarter
Insecticides India net profit rises 204.93% in the June 2008 quarter
R Systems International net profit rises 15.64% in the June 2008 quarter
JK Lakshmi Cement net profit declines 43.49% in the June 2008 quarter

Shasun Chemicals & Drugs reports net loss of Rs 8.62 crore in the June 2008 quarter
V-Guard Industries net profit rises 11.98% in the June 2008 quarter

Source: CM

RIL arm set to supply gas to 52 cities

RIL arm set to supply gas to 52 cities

RIL, which is set to become the single-largest gas producer in the country once its Krishna-Godavari gas hits full production, may also become the largest gas distributor soon with operations in 52 major cities. Reliance Gas Corporation (RGCL), a subsidiary of RIL, has emerged as the sole entity to submit expression of interest (EoI) for these cities.

The company would have an exclusivity over gas distribution in these cities for five years as per the gas distribution policy. RIL’s city-gas business is backed by its claim that the price of the piped gas it would supply would be cheaper by one-third (33%) the price of conventional cooking gas (liquefied petroleum gas) supplied in cylinders.

Responding to queries at the India Economic Summit 2006, RIL chairman & managing director Mukesh Ambani said: “Our gas would cost one-third less than that of LPG.” Consumers today enjoy a subsidy of more than Rs 300 per cylinder of cooking gas. Gail India, which has been the leading city gas distribution company, with operations in Mumbai and New Delhi, has taken a back seat with regard to EoIs for major cities. Gail is at a disadvantage vis-a-vis RIL as it has to depend on a third party for gas supplies.

RIL, on the other hand is vertically integrated and will source its gas from its own fields. RIL has said in its application that RGCL will source gas from its parent company RIL which has 35 exploration blocks.

Interestingly, RIL has successfully leveraged its tie-up with its competitor Gail for transportation of gas. “RIL has proposed to use Gail’s HBJ and DUPL pipelines for many cities where it plans to set up its city-gas business. But, Gail could not leverage the arrangement between the two parties for its projects,” a company official said.

On March 15, 2007, RIL signed an MoU with Gail for co-operation in the gas sector. Identified areas of joint co-operation has been natural gas pipeline transmission and marketing, CBM gas opportunities, city and local gas distribution, operations and maintenance (O&M) services, exploration, production and technology and knowledge sharing. Officials in Gail confirmed that they chose only seven cities in the first phase. Surprisingly, the petroleum ministry is understood to have permitted Gail to bid only for seven tier-II cities including Kota, Jhansi, Mathura, Sonipat and Dewas (where it is the single interested entity).

“While in theory, navratna companies are free to take business decisions, in practice they have to get formal or informal approval of the administrative ministry before making any major move,” CEO of a navratna company on condition of anonymity said. So far, the downstream regulator has received EoIs for 59 cities, with interests of RIL and Gail overlapping in only two cases — Ghaziabad and Gwalior. The list of 52 cities where RIL is the sole interested party includes Noida, Faridabad, Gurgaon, Navi Mumbai, Bangalore, Hyderabad, Pune, Chandigarh, Lucknow, Chennai, Amritsar, Ludhiana, Surat, Nasik, Agra, Jaipur and Coimbatore.

----------------------------------------------
Investors guide from ET

Market enters intermediate uptrend
Market shoots up amid potical melt down
The Right Equation
Nu Tek's primary offer looks attractive
Credit rating on BHEL, Larsen Toubro, Sasken tech, Sesa Goa, Aban offshore, Ultratech cement

Tamil Nadu newsprint & papers attractive long term investment
Join the glitterati
Investment environment in Asia vis-a-vis rest of world
Right time for investors to accumulate green stocks

Source:ET

Top Picks from Small,Mid,Large Cap stocks

Divis Laboratories :An established player in the generic active pharma ingredient (API) space and leader among Indian contract research and manufacturing services (CRAMS) players, the company has attained market leadership in several key products. It has 20 of the top 25 innovator companies as its client in CRAMS segment. It recently commissioned a nutraceutical facility for the $1 billion global market, which has high entry barrier in the form of complex chemistry skills.

Sun Pharma (): With strong earnings visibility and industry-leading earnings before interest, taxation, depreciation and amortisation (EBITDA) margins, Sun Pharmaceuticals has one of the best business models among the peers. The company's business in the US is also maturing, with windfall gains expected from 180 days exclusivities apart from a healthy product pipeline.

Aban Offshore (): The largest offshore rig operator in India, the company is ideally placed to capitalise on exploration and production (E&P ) boom. It renewed contracts with ONGC at a sizeable premium, boosting its top-line visibility. It will deliver four jack-up drilling rigs in FY09 and is set to expand its fleet to 21 vessels . The addition of drill ships will reduce dependence on jack-up rig operations and attract premium rates due to low availability.

Tata Steel (): It is the world's sixth largest steel company. In India, it has just raised its crude-steel capacity from 5 million tonnes per annum (tpa) to 6.8 million tpa, of which 60% is rolled into flat products and the rest sold as long products. It also sells ferro alloys, tubes, bearings and some mineral products. TSL India's raw material security and operating efficiencies put it among the lowest-cost producers globally. Its focus on high-value products and branding helps it earn high EBITDA margins of 40%. It should benefit from the likely rise in domestic prices in August this year.

Reliance Industries (): The company has interests in E&P , refining, petrochemicals, textiles, telecom, electricity, financial services and infrastructure. Its petrochemicals business is vertically integrated with an output of around 11 million tons. It also operates India's largest and most complex refinery with a capacity of 33 million tons. It is expected to start RPL and KG Basin production from Q3 FY09, which is expected to drive growth for the company. Also, it plans to invest $7.5 billion on semiconductor and polysilicon facilities at Jamnagar. Looking at higher crude prices and strong gross refining margin (GRM), this company has strong future prospects. (AMITABH CHAKRABORTY, president (equity), Religare Securities)

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GSK Consumer (): The company has a leadership position in the malted beverages space, strong set of core brands (Horlicks & Boost) and rich parentage (new launches from global portfolio). These are expected to help GSK sustain robust growth. Moreover, surplus cash and investments of Rs 400 crore coupled with attractive valuations make it one of the best value plays in the consumer domain.

PVR (): The company's superior management bandwidth , integrated business model and strong set of properties (in terms of location) make it the most preferred play in the movie exhibition space. Moreover, its entry into new allied businesses such as food courts and bowling alleys coupled with recent dilution in its movie production business is likely to lead to re-rating of the stock.

Bartronics India (): The company operates in the automatic identification and data capture (AIDC) solutions segment and is set to leverage the strong growth expected in the retail sector. It is the only smart cards manufacturer in India and this segment is expected to surge on strong demand from the telecom, banking and government sectors. In the wake of strong growth prospects of the company, the stock offers great value.

Jain Irrigation (): The company is a proxy play on the increasing government focus on agriculture and micro irrigation and the booming infrastructure in the country. It would also benefit from the acquisitions it made over the last couple of years, which will be in addition to the company's organic growth initiatives. Thus, the long-term prospects of the company are robust.

Piramal Healthcare (): The company is an early entrant into the CRAMS space. Over the last couple of years, it has consolidated its presence in the segment, which now contributes 50% of its overall revenues. Considering its robust pipeline, the company is expected to post robust growth in the years to come.
(HITESH AGRAWAL, head of research, Angel Broking)

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IPCA Laboratories (): The company's focus on branded formulations business and emerging economies is expected to be its key growth driver. New products launches in domestic and UK markets coupled with supplies to new emerging economies and US markets should lead to a compounded annual growth rate (CAGR) of 17% in revenues and 22% in profits over next two years. It is expected to clock an earning per share (EPS) of Rs 69.7 and Rs 82.6 for FY09 and FY10, respectively. Currently, the stock is trading at 7.5x FY09 and 6.2x FY10 earning estimates.

Numeric Power Systems (): The company, a leading manufacturer of uninterrupted power supply (UPS) systems and power conditioners in India, commands 60% share in IT and 82% share of the ATMs. The strong demand for company's products (India has peak power deficit of 16.6%), increased focus on high margin equipment servicing and significant international presence make NPSL a fast-growing multinational in the power management solutions. The stock is attractively valued at 6.5x FY09 EPS of Rs 94.2.

Indian Overseas Bank (): The company is a leading South Indiabased bank with a strong balance sheet. IOB has a healthy current and savings account (CASA) ratio of 33.5% and strong return ratios, with a return on assets (RoA) and return on earnings (RoE) of 1.3% and 28%, respectively. The net profit for FY09E and FY10E is expected to be Rs 12.42 billion and Rs 13.91 billion, respectively , resulting in an EPS of Rs 22.8 and Rs 25.5 for FY09E and FY10E, respectively.

LIC Housing Finance (): The company is expected to continue to benefit from the growing demand for housing. A lower mortgage/GDP ratio of 6% offers huge potential. The company expects 22% year-on-year (yoy) business growth to Rs 268 billion and 20% yoy growth in net profit to Rs 4.61 billion for FY09. Improving asset quality and strong return ratios augur well for LICHF.

Bharat Electronics (): The company is the premier defence contractor for the government. Over the years, the company has developed several competencies in the area of defence electronics. It is expected to benefit from the defence offset clause that the government mandates for import of defence equipment above Rs 3 billion. The order backlog is comfortable at Rs 94.5 billion and equivalent to over two years of FY08 revenues. The modernisation of the Indian defence sector is expected to throw significant opportunities for BEL.
(DIPEN SHAH, vice-president — private client group (PCG) research, Kotak Securities)

GlaxoSmithKline Q2 net at Rs 115 cr
Dewan Housing Q1 net jumps 38.57%
Hindalco net up 16 pc at Rs 696.76 cr
Dish TV Q1 net loss at Rs 125.4 cr
Blue Star Q1 net up 63 pc at Rs 36.41 cr
Neyveli Lignite Q1 net profit at Rs 286 cr
Sterlite Ind posts Rs 11.51 bn net profit

Dabur Q1 net rises 25 pc, to hike prices
ONGC Q1 net rises 44 pc, beats forecast
Havells India Q1 PAT jumps 28 per cent to Rs 41 crore
Dena Bank Q1 net up 22 pc at Rs 68 cr
Adani Enterprises Q1 net up 36% at Rs 93.57 crore
Kansai Nerolac net profit down by 7 per cent to Rs 30.19
JK Lakshmi Cement Q1 net dips 43 pc
Kotak Mahindra Bank stand-alone net profit up 14 pc

Reliance Infra in cooperation agreement with Shanghai Electric
Sunil Hitech bags Rs 650 cr orders
L&T order book at $13.3 bn at end June
N-deal spin-off - 100,000 new jobs, more research opportunities
Great Offshore bags Rs 234 cr contract from ONGC
Take Your Pick: Small-cap stocks
Take Your Pick: Large-cap stocks

Source:ET

Inflationary pressures may force rate hike

Inflationary pressures may force rate hike
RBI hints at rate hikes

Further rate hike seems imminent with RBI saying on Monday, a day ahead of its quarterly monetary review, that inflationary pressures are likely to continue for some time. The central bank fears the situation may worsen in case of a hike in global oil prices which as such have not been fully passed on to consumers in India. Expecting that global crude prices would remain high due to tight supply conditions, RBI said in first quarterly review of Macro Economic and Monetary Developments that "the pass-through in case of administered petroleum products is still incomplete". The Government on June 5 hiked the prices of petrol, diesel and cooking gas which had catapulted inflation to double-digit mark. The increase however did not fully cover the rising prices in global markets, RBI said.

The central bank also said inflationary pressures are likely to be there for some time. "As the potential inflationary pressures from international food and energy prices appear to have amplified and, by current indications, are likely to remain so for some time," it said. In Tokyo, Finance Secretary D Subbarao also said inflation may accelerate from a 13-year high and a further interest rate increase is an "obvious solution". Global investment banker Goldman Sachs expected RBI to increase short-term lending rate (repo) and mandatory deposit rates of banks with the central bank (CRR) by 25 basis points each tomorrow as inflation is much above the RBI's comfort zone. However, chambers and bankers called for maintaining a status quo in monetary policy of the RBI since it would harm the growth prospects.

Inflation reflects oil prices, demand: RBI
Foreign fund inflows has declined so far this fiscal: RBI
Assocham asks RBI to maintain status quo in monetary policy
IIP moderates in April-May period: RBI

Source:ET,UTVI

27 July 2008

Stock analysis from BusinessLine

http://www.thehindubusinessline.com/iw/index.htm

STOCKS: Dr Reddy’s Laboratories: HoldInvestors may not initiate fresh purchases for now in the stock of Dr Reddy’s Laboratories, a frontline pharma major which derives one-third of revenues from branded formulations (finished dosages). ...

STOCKS: Axis Bank: BuyThe Axis Bank stock has outperformed its peers in the private sector with a 16.1 per cent gain in its price over the past one year, when other private bank stocks have failed to generate positive returns. A lower exposure to retail lending, ...

STOCKS: Transformers and Rectifiers: BuyInvestors with a long-term perspective can consider buying the stock of Transformers and Rectifiers (T&R). Robust growth in revenue backed by stable margins, healthy growth in order backlog and the likely commissioning of new capacities by ...

STOCKS: IVRCL Infrastructures: BuyInvestors with a 2-3 year perspective can consider buying into the stock of IVRCL Infrastructures and Projects (IVRCL). ...

TECHNICAL ANALYSIS:
MUTUAL FUNDS: Fund Update
STOCK MARKETS: Asia pins hope on oil downturn

DERIVATIVES MARKETS:
Nifty future likely to move in 4200-4500 range
DERIVATIVES MARKETS: Mildly bearish? How to profit from it

PEOPLE: Investment NuggetsKnown for his proficiency in emerging markets, Mark Mobius, Executive Chairman of Templeton, guides the judgment of many fund managers across globe. Joining Templeton in 1987 as president of the Templeton Emerging Markets ...

INSIGHT: Why the Sensex fall is overdone
MUTUAL FUNDS: Kotak 30: Invest
Birla Sun Life International Equity: Hold
IPOS: Nu Tek India – IPO: Invest at cut-off

TECHNICAL ANALYSIS:
Query Corner : What the charts say
Index Outlook
INSIGHT: Oil stocks are still slippery

Source: BLine

India's 10 best workplaces: Rediff

10 best workplaces in India
India's 10 best workplaces

There's never been a better time to work in India. Today, India offers such good opportunity and career prospects that many people stay back in India reversing the trend of going abroad in search of greener pastures.

As India becomes a much sought-after jobs destination, here's a look at the best places to work in India. In a survey conducted by 'Great Place to Work Institute' and The Economic Times, among the top 50 companies, IT and ITeS sectors dominate the best workplaces' list. The institute researched and promoted the concept of 'Great Places to Work' for over 25 years and is now present in 40 countries, including the United States and the United Kingdom.

The study uses an employee-centric methodology. Workplaces were ranked on a points scale based on both quantitative and qualitative data. Almost 66 per cent of the score is based on employee response and the rest on management survey. The 2008 study, spanning 6 months and 200 participating firms, surveyed 36,000 employees. Read on...

1. RMSI
2. Marriott Hotels India
3. Google India
4. Agilent Technologies
5. Classic Stripes Pvt Ltd
6. American Express India
7. Cadbury India Ltd
8. NTPC
9. Godrej Consumer Products
10. Hilti India

I have just listed names only.
Want to have more details about this???.Pls visit: India's 10 best workplaces

Source:Rediff

26 July 2008

ICICI Bk net down 6% at Rs 728 cr, SBI Q1 net up 15.1%, beats forecast

ICICI Bank Q1 net down 6% at Rs 728 cr

ICICI Bank, the country's largest private sector lender, today reported a 6% decline in net profit in the April-June quarter at Rs 728.01 crore as against Rs 775.08 crore in the year-ago period.
"A sharp increase in interest rates and adverse market conditions during the quarter had a negative impact of Rs 594 crore on the bank's trading portfolio and Statutory Liquidity Ratio (SLR) and its treasury income in Q1 FY'09," the bank said in a filing with the BSE.

Total income rose marginally (1.6%) to Rs 9,429.98 crore in the quarter ended June 30, 2008 from Rs 9,281.42 crore in Q1FY08.Net interest income increased 41% to Rs 2,090 crore from Rs 1,479 crore in the same period of the previous fiscal.

During the quarter ended June 30, the bank, including its subsidiaries, had total assets worth Rs 4, 84, 643 crore.Savings account deposits increased 35% to Rs 43,465 crore at the end of June 30,2008 from Rs 32,121 crore in Q1FY08. Current and savings account (CASA) deposits constituted 27.6% of total deposits when compared with 22.4% at the end of June 30, 2007.

"As on July 21, 2008, the bank had 1,388 branches and extension counters and 4,233 ATMs," the release added.Consolidated advances of the bank, its overseas banking subsidiaries and ICICI Home Finance Company increased 20% to Rs 2,57,287 crore as on June 30, 2008 from Rs 2,15,293 crore at the end of June 30, 2007.

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SBI Q1 net at Rs 1,641 cr
SBI Q1 net up 15.1%, beats forecast

Country's largest public sector bank the State Bank of India recored a 15.1 percent jump in its net profits for the first quarter of the financial year 2009. The consolidated net profit of of the bank stood at Rs 1,640.92 crore for the quarter ended June 30, 2008 against Rs 1,861.66 crore in during the corrosponding quarter of the prevous year. The figures are not comparable as the bank had changed its accounting policies with effect March 31, 2008.

The bank's total revenue during the quarter were up 25.8 percent at Rs 23,747.43 crore from Rs 18,882.57 crore last year. Shares in State Bank shares fell 31 percent in the June quarter, faring worse than the 14 percent drop in the benchmark Sensex on the Bombay Stock Exchange and a 23 percent slump in the BSE Bankex.
***************
State Bank of India, India's largest bank, posted a 15.1 per cent rise in quarterly net profit on Saturday, beating forecasts, helped by its access to low-cost funds. The state-run bank, which raised $4.1 billion in a rights issue in March, said its net profit in April-June, its fiscal first quarter, rose to 16.41 billion rupees ($388 million) from 14.26 billion rupees reported a year earlier. A Reuters poll of analysts had forecast a 2.9 percent rise in March quarter earnings to 14.67 billion rupees

--------------------------------------------------
Reliance Infrastructure net up 14% at Rs 253 crore

Reliance Infrastructure owned by billionaire Anil Ambani said fiscal first quarter profit rose 14 per cent helped by higher operational efficiencies in power generation and higher orders for equipment.

Net profit of the company rose to Rs 253 crore in the three months ended June 30 compared with Rs 222 crore in the corresponding period of previous year. Total income of the company grew 32 per cent to Rs 2,618 crore, against Rs1,984 crore in the corresponding quarter of previous year.

Aggregate sales of electrical energy increased marginally by 2 per cent to 2,539 million units during the the period. However, aggregate revenues from energy sales during the quarter increased by 37 per cent to Rs 1,764 crore (Rs 1,285 crore in the corresponding quarter of previous year).

"Our Dahanu power plant operated at over 100 per cent plant load factor(PLF) and this resulted in getting better incentives from the regulator. Further, our EPC business grew by over 320 per cent," said Lalit Jalan, chief executive of Reliance Infrastructure.

Maharashtra Electricity Regulatory Authority (MERC) offers incentives mainly for better PLF, station heat rate, oil consumption and other operational efficiencies, said sources. The Company’s Dahanu Thermal Power Station achieved a PLF of 103.2 per cent, generating 1,126 million units. Dahanu's PLF was also higher at 104.5 percent achieved during the corresponding quarter of previous year.

The turnover of the EPC division of the company increased to Rs 434 crore for the quarter against Rs 339 crore in the corresponding previous period. The division had an order book position of about Rs 21,044 crore as on June 30, 2008, as against Rs 5,035 crore in the corresponding quarter of previous year. Profits from EPC and contracts were Rs47.40 crore for the period, compared to Rs17.24 crore in the corresponding previous year. Currently Reliance Infrastructure is working on 6 projects and implementing over 3,500 MW of power projects.
This will ensure an additional accounting of an average Rs5000 crore every year to the revenues of the company, at least for the next 4-5 years.

He said the company was expected to grow at least 20 per cent year on year. "Once Reliance Power's power plants take off, that will ensure us a minimum 45 per cent growth, which will catapult Reliance Infrastrcture", said Jalan. Reliance Infrastrcture will be the EPC contractor for most of the 28,000 MW of power to be added by Reliance Power. Infrastructure business, another area of focus for company, is also expected to give good returns in future. The company is constructing five road projects in Tamil Nadu, two metro rail projects in Mumbai and Delhi and a business district in Hyderabad.

Other Income for the quarter under review was Rs 420 crore as against Rs 360 crore in the corresponding quarter of previous year. The Company's Earnings Before Interest, Depreciation and Tax (EBIDT) was Rs 396 crore (US$ 92 million) during the quarter, against Rs 398 crore in the corresponding quarter of previous year.
---------------------------------------------------------
Divi's Laboratories net profit rises 43.40% in the June 2008 quarter
Net profit of Divi's Laboratories rose 43.40% to Rs 96.48 crore in the quarter ended June 2008 as against Rs 67.28 crore during the previous quarter ended June 2007. Sales rose 16.66% to Rs 266.07 crore in the quarter ended June 2008 as against Rs 228.07 crore during the previous quarter ended June 2007

Motherson Sumi Systems net profit declines 57.66% in the June 2008 quarter
Net profit of Motherson Sumi Systems declined 57.66% to Rs 12.72 crore in the quarter ended June 2008 as against Rs 30.04 crore during the previous quarter ended June 2007. Sales rose 14.68% to Rs 346.38 crore in the quarter ended June 2008 as against Rs 302.04 crore during the previous quarter ended June 2007

Seshasayee Paper & Boards net profit declines 45.49% in the June 2008 quarter
Eicher Motors net profit declines 37.65% in the June 2008 quarter

Bombay Rayon Fashions net profit rises 58.41% in the June 2008 quarter
Net profit of Bombay Rayon Fashions rose 58.41% to Rs 34.93 crore in the quarter ended June 2008 as against Rs 22.05 crore during the previous quarter ended June 2007. Sales rose 36.68% to Rs 275.07 crore in the quarter ended June 2008 as against Rs 201.25 crore during the previous quarter ended June 2007

PTC India net profit rises 58.67% in the June 2008 quarter
Net profit of PTC India rose 58.67% to Rs 18.85 crore in the quarter ended June 2008 as against Rs 11.88 crore during the previous quarter ended June 2007. Sales rose 3.85% to Rs 1203.10 crore in the quarter ended June 2008 as against Rs 1158.55 crore during the previous quarter ended June 2007.

Dolphin Offshore Enterprises (India) net profit rises 241.70% in the June 2008 quarter
Elgi Equipments net profit rises 10.09% in the June 2008 quarter

UCO Bank net profit rises 0.43% in the June 2008 quarter
Net profit of UCO Bank rose 0.43% to Rs 133.44 crore in the quarter ended June 2008 as against Rs 132.87 crore during the previous quarter ended June 2007. Total operating income rose 20.36% to Rs 1837.45 crore in the quarter ended June 2008 as against Rs 1526.66 crore during the previous quarter ended June 2007.

Techno Electric & Engineering Company net profit rises 147.42% in the June 2008 quarter
Reliance Infrastructure net profit rises 13.98% in the June 2008 quarter
Dhanalakshmi Bank net profit rises 57.36% in the June 2008 quarter
ICICI Bank net profit declines 6.07% in the June 2008 quarter
State Bank of India net profit rises 15.08% in the June 2008 quarter

Vijaya Bank reports net loss of Rs 76.64 crore in the June 2008 quarter
Vijaya Bank reported net loss of Rs 76.64 crore in the quarter ended June 2008 as against net profit of Rs 111.35 crore during the previous quarter ended June 2007. Total operating income rose 32.37% to Rs 1188.96 crore in the quarter ended June 2008 as against Rs 898.23 crore during the previous quarter ended June 2007.

Take Solutions reports net profit of Rs 7.37 crore in the June 2008 quarter
JM Financial net profit rises 600.00% in the June 2008 quarter
Mangalore Chemicals & Fertilizers net profit declines 26.35% in the June 2008 quarter

Source: UTVi,CM,BS,ET

Discover Stock Market India Nifty Bank Nifty Technicals Analysis & India Business Stories

31 July 2008

Results: Suzlon, Yesbk,Fintech,CBI,Daburpharma, JSW steel,Titan, NALCO,Videocon, PSTL,Adlabs etc

29 July 2008

Results: NTPC,HeroHonda,Jetair,Punj Lloyd,REC,Ranbaxy,CorpBk,Praj,SakthiSugars,MLL, Rajesh Exports,Areva

Sensex sinks 558 points, RBI hikes Repo rate by 50 bps, CRR by 25 bps

VC,PE updates

Ranbaxy is India's biggest pharma firm29

28 July 2008

Results: ONGC, Larsen Toubro, BOI, IOB,HDFCBk,Sun Pharma, Sterlite, Hindalco, Neyveli, Adani, Dabur, BPCL, DenaBk, KotakBk, Bhusan Steel, Rohit ferro

RIL arm set to supply gas to 52 cities

Top Picks from Small,Mid,Large Cap stocks

Inflationary pressures may force rate hike

27 July 2008

Stock analysis from BusinessLine

India's 10 best workplaces: Rediff

26 July 2008

ICICI Bk net down 6% at Rs 728 cr, SBI Q1 net up 15.1%, beats forecast

ET Top Stories:

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