Other Results and Result calendar
Mindtree Consulting has announced its second quarter numbers. It has posted 34.6% growth in its net profit of USD 6.7 million.
Shree Cement Q2 net profit at Rs 106.2 cr
Subex Azure Q2 net loss at Rs 34.8 cr
HOEC Q2 net profit at Rs 7.4 cr
Jain Irrigation Q2 net profit at Rs 30 cr
24-Oct-2007 Quarterly Results Calendar from Myiris.Com
3I INFOTECH
ALLIDE DIGITAL
AREVA
BANK OF MAH
CASTROL IND
CIPLA
CYBER MEDIA
D C M SHRIRAM CON
D C W LTD.
DABUR INDIA
DISHMAN PHAR
DR. REDDY
GEODESIC
GUJ AMB EXP
24-Oct-2007
Quarterly Results & To note development of Maize Processing Project at Uttranchal.
GUJ IND POW
HIND MOTORS
HOTEL LEELA
INNOVA FOOD
J B F IND
KUSHAGRA SOFT
LUPIN LTD
M M FORGINGS
MACMILAN IND
MARICO LTD
MERCATOR LIN
MRO-TEK LTD
MUKAND ENGG
NAVNEET PUB.
OPTO CIRCUITS
PAGE INDUSTR
PARADYNE INF
PHOENIX MILL
SADBHAV ENGG
SAKTHI SUGAR
SUN TVNET
T V S MOTOR
TELE DATA
TOURISM FIN
UNION BANK
VICEROY HOTEL
VIJAYA BANK
Result Calendar Updates from Indiaearnings.com
3i Infotech 24-Oct-07
Allied Digital 24-Oct-07
Anant Raj Ind 24-Oct-07
Bank of Mah 24-Oct-07
Bihar Caustic 24-Oct-07
Blue Star 24-Oct-07
Castrol 24-Oct-07
Cholamandalam 24-Oct-07
Cipla 24-Oct-07
Cyber Media 24-Oct-07
Dabur India 24-Oct-07
DCM Shriram Con 24-Oct-07
DCW 24-Oct-07
Dishman Pharma 24-Oct-07
Dr Reddys Labs 24-Oct-07
Eastern Silk 24-Oct-07
Ent Network Ind 24-Oct-07
Excel Crop Care 24-Oct-07
Fact Enterprise 24-Oct-07
Fert and Chem 24-Oct-07
Genesys Int 24-Oct-07
Geodesic 24-Oct-07
GIC Housing Fin 24-Oct-07
Guj Amb Exports 24-Oct-07
Guj Gas 24-Oct-07
Guj Ind Power 24-Oct-07
Himadri Chem 24-Oct-07
Hind Motors 24-Oct-07
Hotel Leela 24-Oct-07
JBF Industries 24-Oct-07
JK LakshmiCemen 24-Oct-07
Krebs Biochem 24-Oct-07
Lakshmi Vilas 24-Oct-07
Lupin 24-Oct-07
Macmillan 24-Oct-07
Mahindra Ugine 24-Oct-07
Marico 24-Oct-07
Mercator Lines 24-Oct-07
Minda Ind 24-Oct-07
MM Forgings 24-Oct-07
Mukund Engg 24-Oct-07
Mysore Cement 24-Oct-07
Navneet 24-Oct-07
Nitco Tiles 24-Oct-07
NRC 24-Oct-07
OCL India 24-Oct-07
Opto Circuits 24-Oct-07
Page Industries 24-Oct-07
Paradyne Info 24-Oct-07
Phoenix Mills 24-Oct-07
Pitti Laminatio 24-Oct-07
Premier 24-Oct-07
Rane Engine 24-Oct-07
Revathi CP 24-Oct-07
Sadbhav Eng 24-Oct-07
Sakthi Sugars 24-Oct-07
Stindia 24-Oct-07
Sun TV Network 24-Oct-07
Swaraj Engines 24-Oct-07
Teledata Info 24-Oct-07
Tourism Finance 24-Oct-07
TVS Motor 24-Oct-07
UCO Bank 24-Oct-07
Union Bank 24-Oct-07
Viceroy Hotels 24-Oct-07
Vijaya Bank 24-Oct-07
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This blog is for providing daily news of Corporate Indian Stories, Corporate Results, Equities, MFs, Banking,Insurance, Brokerages Informations, World Business, Venture Capital, Angel Investors, BSchools, MBAs,Jobs, Politics & something Interesting.Our team will be grateful to the owners of various Indian/world/govt sites to refer their sites to get INFORMATION without objection.Request viewers to make verification about the information. Blog is not responsible for any faulty information.
23 October 2007
Other Results: India Infoline, Finolex Cables, Ashok Leyland etc
India Infoline consolidated net up 2.58 times in Q2 (updated)
Financial services space reported a 2.58 times rise in its net profit to Rs 536.7 million for the quarter ended September 2007, from Rs 207.6 million in the corresponding quarter a year ago. Total income rose 2.46 times to Rs 1,952.90 million for the quarter ended September 2007 from Rs 794.9 million, for the same period last year.India Infoline, on a standalone basis disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 4.60 times rise in profit to Rs 455.38 million, from Rs 98.88 million in the quarter ended September 2006.Net sales for the quarter rose 7.21 times to Rs 1,191.12 million, compared with Rs 165.03 million in the corresponding quarter, a year ago. Total income rose 7.52 times to Rs 1,309.95 million for the quarter ended September 2007, from Rs 184.75 million for the same period last year.The diluted EPS after extraordinary item stood at Rs 7.31 for the quarter ended September 2007.
Zee Entertainment Q2 consolidated net jumps 4.61 times
Leading media house, Zee Entertainment Enterprises registered a phenomenal growth of 4.61 times in consolidated net profit for the quarter ended September 2007. During the quarter, the company experienced a rise in consolidated net profit to Rs 970.60 million, from Rs 210.10 million in the same quarter of the previous year. Consolidated total income during the quarter jumped 15.43% to Rs 4,210.70 million compared with the corresponding quarter, a year ago.
Bhushan Steel net rises 49% in Sep`07 qtr
Bhushan Steel announced a 48.60% jump in net profit at Rs 1,034.10 million for the quarter ended September 2007, compared with Rs 695.90 million for the quarter ended September 2006. Net Sales rose 7.38% to Rs 10,681.20 million in the quarter, from Rs 9,947.10 million in the same quarter, a year ago.Total Income stood at Rs 10,815.90 million for the quarter ended September 2007, where as the same was at Rs 9,995.80 million for the quarter ended September 2006
Indiabulls Financial net vaults 3.8 times in Q2
Finolex Cables Q2 earnings climb 24.65% (Update)
Binani Cement net drops 5.52% in Sep `07 qtr
Coromandel Fertilisers Q2 net climbs 27.39%
Ashok Leyland net declines 15.75% for Q2
Mangalam Cement net rises 36.91% for Sep `07 qtr
Britannia Q2 earnings zoom 2.29 times
Novartis India net rises 70.16% in Sep `07 qtr
Gujarat Alkalies net rises 57.51% in Sep`07 qtr
Apollo Hospitals net falls 52.98% in Q2
GlaxoSmithkline Consumer net rises 39.38% in Sep`07 qtr
Micro Inks swings to (consolidated) profit of Rs 220 mn in Q3
Madras Cements Q2 net climbs 34.17%
Riddhi Siddhi Gluco net down 24.73% for Sep`07 qtr
Amara Raja Batteries Q2 net up 62%
Eicher Motors net up 17.77% in Sep`07 qtr
Bannari Amman Spinning Mills net up 12.5% in Sep`07 qtr
Twilight Litaka net up 65.89% in Sep`07 qtr
Gujarat Alkalies net rises 57.51% in Sep`07 qtr
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.myiris.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Financial services space reported a 2.58 times rise in its net profit to Rs 536.7 million for the quarter ended September 2007, from Rs 207.6 million in the corresponding quarter a year ago. Total income rose 2.46 times to Rs 1,952.90 million for the quarter ended September 2007 from Rs 794.9 million, for the same period last year.India Infoline, on a standalone basis disclosed a phenomenal jump in net profit for the quarter ended September 2007. During the quarter, the company experienced a 4.60 times rise in profit to Rs 455.38 million, from Rs 98.88 million in the quarter ended September 2006.Net sales for the quarter rose 7.21 times to Rs 1,191.12 million, compared with Rs 165.03 million in the corresponding quarter, a year ago. Total income rose 7.52 times to Rs 1,309.95 million for the quarter ended September 2007, from Rs 184.75 million for the same period last year.The diluted EPS after extraordinary item stood at Rs 7.31 for the quarter ended September 2007.
Zee Entertainment Q2 consolidated net jumps 4.61 times
Leading media house, Zee Entertainment Enterprises registered a phenomenal growth of 4.61 times in consolidated net profit for the quarter ended September 2007. During the quarter, the company experienced a rise in consolidated net profit to Rs 970.60 million, from Rs 210.10 million in the same quarter of the previous year. Consolidated total income during the quarter jumped 15.43% to Rs 4,210.70 million compared with the corresponding quarter, a year ago.
Bhushan Steel net rises 49% in Sep`07 qtr
Bhushan Steel announced a 48.60% jump in net profit at Rs 1,034.10 million for the quarter ended September 2007, compared with Rs 695.90 million for the quarter ended September 2006. Net Sales rose 7.38% to Rs 10,681.20 million in the quarter, from Rs 9,947.10 million in the same quarter, a year ago.Total Income stood at Rs 10,815.90 million for the quarter ended September 2007, where as the same was at Rs 9,995.80 million for the quarter ended September 2006
Indiabulls Financial net vaults 3.8 times in Q2
Finolex Cables Q2 earnings climb 24.65% (Update)
Binani Cement net drops 5.52% in Sep `07 qtr
Coromandel Fertilisers Q2 net climbs 27.39%
Ashok Leyland net declines 15.75% for Q2
Mangalam Cement net rises 36.91% for Sep `07 qtr
Britannia Q2 earnings zoom 2.29 times
Novartis India net rises 70.16% in Sep `07 qtr
Gujarat Alkalies net rises 57.51% in Sep`07 qtr
Apollo Hospitals net falls 52.98% in Q2
GlaxoSmithkline Consumer net rises 39.38% in Sep`07 qtr
Micro Inks swings to (consolidated) profit of Rs 220 mn in Q3
Madras Cements Q2 net climbs 34.17%
Riddhi Siddhi Gluco net down 24.73% for Sep`07 qtr
Amara Raja Batteries Q2 net up 62%
Eicher Motors net up 17.77% in Sep`07 qtr
Bannari Amman Spinning Mills net up 12.5% in Sep`07 qtr
Twilight Litaka net up 65.89% in Sep`07 qtr
Gujarat Alkalies net rises 57.51% in Sep`07 qtr
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.myiris.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Satyam, Suzlon, Indiabulls Results
Suzlon Energy Q2 net profit up 40% at Rs 355.58 cr
MUMBAI: Suzlon Energy reported a 40 per cent jump in net profit of Rs 355.58 crore for the quarter ended September against Rs 253.49 crore in the same quarter a year ago. Total income rose 31 per cent to Rs 1687.45 crore from Rs 1285.45 crore in the corresponding quarter previous year. Suzlon’s consolidated net profit for the quarter ended September was up 68 per cent at Rs 394.70 crore against Rs 235.37 crore for the same period a year ago. Sales stood at Rs 3641.29 crore against Rs 2086.98 crore for the same quarter previous year. At 11:11 am, shares of Suzlon Energy were up 12.55 per cent at Rs 1787 from its previous day’s close.
Satyam Computer Q2 net profit up 29% at Rs 417.1 cr
MUMBAI: Satyam Computer Services reported 29 per cent jump in net profit at Rs 417.15 crore for the quarter ended September as compared with Rs 322.34 crore in the same quarter previous year. Total income increased by 31% to Rs 2056.44 crore from Rs 1565.84 crore in the corresponding quarter a year ago. The Satyam Computer Services group posted net profit of Rs 409.09 crore for the quarter ended September versus Rs 319.81 crore for the same quarter a year ago. Total income increased to Rs 2142.26 crore from Rs 1630.11 crore previous year. At 10:18 am, Satyam Computer shares were up 3.02 per cent at Rs 462 on the BSE.END
Indiabulls Financial Q2 net profit surges 282%
MUMBAI: Indiabulls Financial Services Ltd's July-September net profit rose 282 per cent to Rs 117.05 crore compared with Rs 30.63 crore in the same quarter of the previous year. Net sales increased 300 per cent to Rs 263.71 crore against Rs 65.87 crore year ago. Indiabull group's net profit for the September quarter was up 82 per cent to Rs 173.20 crore against Rs 95.10 crore same period year ago. Net sales rose 83 per cent to Rs 492.87 crore against Rs 269.79 crore in the same period year ago. At 10:00 am, Indiabulls Financial shares were at Rs 574 on NSE, down 0.73 per cent from Monday’s close.
GTL Q2 net profit at Rs 45.43 cr
Dish TV July-Sept net loss Rs 919.4 mn
Orient Paper July-Sept net Rs 583.2 mn
KS Oils July-Sept net at Rs 265.8 mn
Dewan Housing July-Sept net at Rs 162 mn
Godrej Consumer Q2 net up 19 pc at Rs 37 cr
BASF up 5% at Rs 245 on Q2 net profit
Hotel Leelaventure July-September net seen up 29.5 pc
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MUMBAI: Suzlon Energy reported a 40 per cent jump in net profit of Rs 355.58 crore for the quarter ended September against Rs 253.49 crore in the same quarter a year ago. Total income rose 31 per cent to Rs 1687.45 crore from Rs 1285.45 crore in the corresponding quarter previous year. Suzlon’s consolidated net profit for the quarter ended September was up 68 per cent at Rs 394.70 crore against Rs 235.37 crore for the same period a year ago. Sales stood at Rs 3641.29 crore against Rs 2086.98 crore for the same quarter previous year. At 11:11 am, shares of Suzlon Energy were up 12.55 per cent at Rs 1787 from its previous day’s close.
Satyam Computer Q2 net profit up 29% at Rs 417.1 cr
MUMBAI: Satyam Computer Services reported 29 per cent jump in net profit at Rs 417.15 crore for the quarter ended September as compared with Rs 322.34 crore in the same quarter previous year. Total income increased by 31% to Rs 2056.44 crore from Rs 1565.84 crore in the corresponding quarter a year ago. The Satyam Computer Services group posted net profit of Rs 409.09 crore for the quarter ended September versus Rs 319.81 crore for the same quarter a year ago. Total income increased to Rs 2142.26 crore from Rs 1630.11 crore previous year. At 10:18 am, Satyam Computer shares were up 3.02 per cent at Rs 462 on the BSE.END
Indiabulls Financial Q2 net profit surges 282%
MUMBAI: Indiabulls Financial Services Ltd's July-September net profit rose 282 per cent to Rs 117.05 crore compared with Rs 30.63 crore in the same quarter of the previous year. Net sales increased 300 per cent to Rs 263.71 crore against Rs 65.87 crore year ago. Indiabull group's net profit for the September quarter was up 82 per cent to Rs 173.20 crore against Rs 95.10 crore same period year ago. Net sales rose 83 per cent to Rs 492.87 crore against Rs 269.79 crore in the same period year ago. At 10:00 am, Indiabulls Financial shares were at Rs 574 on NSE, down 0.73 per cent from Monday’s close.
GTL Q2 net profit at Rs 45.43 cr
Dish TV July-Sept net loss Rs 919.4 mn
Orient Paper July-Sept net Rs 583.2 mn
KS Oils July-Sept net at Rs 265.8 mn
Dewan Housing July-Sept net at Rs 162 mn
Godrej Consumer Q2 net up 19 pc at Rs 37 cr
BASF up 5% at Rs 245 on Q2 net profit
Hotel Leelaventure July-September net seen up 29.5 pc
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Labels:
Indiabulls Results,
Satyam,
Suzlon
Sensex records its biggest single day gain, ends 879 pts up
Sensex ends 879 pts up
Sensex 18493 (879)
Nifty 5474 (290)
Strong global markets, fairly buoyant results from India Inc and the market regulator SEBI's proposal to undertake a full review of regulations relating to the foreign portfolio investors at its board meeting later this week were among the prominent triggers that sent the bulls on a rampage today. So sustained and stubborn were the bulls that it was a long trip up north for several blue chip stocks and the benchmark indices Sensex and the Nifty today.
The Sensex, which opened with a positive gap of nearly 300 points at 17,910.30 and hit a high of 18,542.41 in intra-day trades, settled at 18,492.84 with a thumping gain of 878.85 points, its biggest ever single day surge in absolute term. The previous best was the 778.85 points gain it had recorded on October 9, 2007. The Nifty, which hit a high of 5488.50 in late afternoon trade, ended with a gain of 5.59% or 289.70 points at 5473.70.
A fair share of the rise in values of frontline stocks could also be attributed to short-covering ahead of October series derivatives contracts. The mood was so buoyant that only a few stocks, Tata Consultancy Services (down 0.95%), Ambuja Cements (down 0.55%), Wipro (down 0.45%), HDFC (down 0.25%) and Infosys Technologies (down 0.15%), among the Sensex components failed to close on the positive side. All these stocks, however, had enjoyed a spell in the positive territory at some stage of the session today.
Index heavyweight Reliance Industries closed stronger by as much as 7.85% at Rs 2601.55. Capital goods heavyweights BHEL and Larsen & Toubro moved up by 11.55% and 7.55% respectively. Power stocks Reliance Energy (11.2%) and NTPC (8.85%) and telecom major Bharti Airtel (8.4%) also closed with hefty gains. Reliance Communications surged 4.9% to Rs 755.45.
Bank stocks, led by sector heavyweights HDFC Bank (7.45%), State Bank of India (5.85%) and ICICI Bank (3.65%) posted strong gains. Metal stocks had a fine run in the positive territory today. Tata Steel notched up a smart gain of 6.95%. Hindalco gained 3.85%.
Cipla (7.25%), Grasim Industries (5.4%), Maruti Udyog (4.6%), ACC (4.65%), ITC (4.35%), ONGC (4.25%), Hindustan Unilever (4.25%), Tata Motors (3.05%), Satyam Computer Services (3%), Dr. Reddy's Laboratories (2.95%), Mahindra & Mahindra (2.65%), Ranbaxy Laboratories (2.45%) and Bajaj Auto (2.15%) also ended on a high note.
SAIL posted an impressive gain of 10.75%. Unitech surged 10.2%. Suzlon Energy, backed up strong results and fat order book, recorded a smart gain of 9.15%. Punjab National Bank, Zee Entertainment, ABB, Reliance Petroleum, GAIL India, Tata Power and Siemens firmed up by 5% - 8%.
Sterlite Industries climbed up 4.65%. BPCL (2.95%), VSNL (2.95%), Hindustan Petroleum Corporation (2.85%), Nalco (2.75%), MTNL (2.5%) and Sun Pharmaceuticals (1.75%) also ended on a high note.
Punjab Lloyd, Crompton Greaves, AIA Engineering, Bharat Earth Movers, Alstom Projects, Areva, Thermax, Praj Industries, Kirloskar Oil Engines, Bharat Electronics, SKF India, Kalpataru Power, Havell’s India and Lakshmi Machine Works were among the top gainers in the capital goods index.
Bank of India zoomed 22.3% to Rs 314.80. Kotak Bank and Canara Bank moved up by 13.25% and 11.35% respectively. Yes Bank spurted 10%. Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Centurion Bank of Punjab, Axis Bank, Karnataka Bank, Indian Overseas Bank, IndusInd Bank, Federal Bank, Allahabad Bank, Andhra Bank, Indian Bank, IDBI, Dena Bank, Vijaya Bank and Syndicate Bank recorded impressive gains today.
Meal stocks Jindal Steel, Sesa Goa, Welspun Gujarat, Bhushan Steel, Maharashtra Seamless, JSW Steel and Jindal Stainless, auto and auto components stocks MRF, Escorts, Hindustan Motors, Exide Industries, Cummins India, TVS Motor, Amtek Auto, Apollo Tyres, Bharat Forge and Punjab Tractors ended with strong gains.
Divi's Laboratories, Aurobindo Pharma, Lupin, Opto Circuits, Apollo Hospitals, Cadila Healthcare, Nicholas Piramal, Sterling Biotech, Matrix Laboratories, Fortis Healthcare, Biocon, Novartis and Wockhardt were among the major gainers from the healthcare sector.
Midcap stock LIC Housing Finance vaulted 19.15%. Micro Inks, IVRCL Infrastructure, Educomp Solutions, United Breweries, Emami, EID Parry, Ballarpur Industries, Penland, KS Oils, Take Solutions, Bharat Bijli and Ispat Industries also finished with sparkling gains.
Thanks to widespread buying, the market breadth remained very strong today. Out of 2798 stocks traded on BSE, as many as 2089 stocks ended on a positive note. 658 stocks closed in the negative zone while 51 stocks ended at their previous closing levels.
Biggest Gain: Sensex ends up 879pts
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Sensex 18493 (879)
Nifty 5474 (290)
Strong global markets, fairly buoyant results from India Inc and the market regulator SEBI's proposal to undertake a full review of regulations relating to the foreign portfolio investors at its board meeting later this week were among the prominent triggers that sent the bulls on a rampage today. So sustained and stubborn were the bulls that it was a long trip up north for several blue chip stocks and the benchmark indices Sensex and the Nifty today.
The Sensex, which opened with a positive gap of nearly 300 points at 17,910.30 and hit a high of 18,542.41 in intra-day trades, settled at 18,492.84 with a thumping gain of 878.85 points, its biggest ever single day surge in absolute term. The previous best was the 778.85 points gain it had recorded on October 9, 2007. The Nifty, which hit a high of 5488.50 in late afternoon trade, ended with a gain of 5.59% or 289.70 points at 5473.70.
A fair share of the rise in values of frontline stocks could also be attributed to short-covering ahead of October series derivatives contracts. The mood was so buoyant that only a few stocks, Tata Consultancy Services (down 0.95%), Ambuja Cements (down 0.55%), Wipro (down 0.45%), HDFC (down 0.25%) and Infosys Technologies (down 0.15%), among the Sensex components failed to close on the positive side. All these stocks, however, had enjoyed a spell in the positive territory at some stage of the session today.
Index heavyweight Reliance Industries closed stronger by as much as 7.85% at Rs 2601.55. Capital goods heavyweights BHEL and Larsen & Toubro moved up by 11.55% and 7.55% respectively. Power stocks Reliance Energy (11.2%) and NTPC (8.85%) and telecom major Bharti Airtel (8.4%) also closed with hefty gains. Reliance Communications surged 4.9% to Rs 755.45.
Bank stocks, led by sector heavyweights HDFC Bank (7.45%), State Bank of India (5.85%) and ICICI Bank (3.65%) posted strong gains. Metal stocks had a fine run in the positive territory today. Tata Steel notched up a smart gain of 6.95%. Hindalco gained 3.85%.
Cipla (7.25%), Grasim Industries (5.4%), Maruti Udyog (4.6%), ACC (4.65%), ITC (4.35%), ONGC (4.25%), Hindustan Unilever (4.25%), Tata Motors (3.05%), Satyam Computer Services (3%), Dr. Reddy's Laboratories (2.95%), Mahindra & Mahindra (2.65%), Ranbaxy Laboratories (2.45%) and Bajaj Auto (2.15%) also ended on a high note.
SAIL posted an impressive gain of 10.75%. Unitech surged 10.2%. Suzlon Energy, backed up strong results and fat order book, recorded a smart gain of 9.15%. Punjab National Bank, Zee Entertainment, ABB, Reliance Petroleum, GAIL India, Tata Power and Siemens firmed up by 5% - 8%.
Sterlite Industries climbed up 4.65%. BPCL (2.95%), VSNL (2.95%), Hindustan Petroleum Corporation (2.85%), Nalco (2.75%), MTNL (2.5%) and Sun Pharmaceuticals (1.75%) also ended on a high note.
Punjab Lloyd, Crompton Greaves, AIA Engineering, Bharat Earth Movers, Alstom Projects, Areva, Thermax, Praj Industries, Kirloskar Oil Engines, Bharat Electronics, SKF India, Kalpataru Power, Havell’s India and Lakshmi Machine Works were among the top gainers in the capital goods index.
Bank of India zoomed 22.3% to Rs 314.80. Kotak Bank and Canara Bank moved up by 13.25% and 11.35% respectively. Yes Bank spurted 10%. Union Bank of India, Bank of Baroda, Oriental Bank of Commerce, Centurion Bank of Punjab, Axis Bank, Karnataka Bank, Indian Overseas Bank, IndusInd Bank, Federal Bank, Allahabad Bank, Andhra Bank, Indian Bank, IDBI, Dena Bank, Vijaya Bank and Syndicate Bank recorded impressive gains today.
Meal stocks Jindal Steel, Sesa Goa, Welspun Gujarat, Bhushan Steel, Maharashtra Seamless, JSW Steel and Jindal Stainless, auto and auto components stocks MRF, Escorts, Hindustan Motors, Exide Industries, Cummins India, TVS Motor, Amtek Auto, Apollo Tyres, Bharat Forge and Punjab Tractors ended with strong gains.
Divi's Laboratories, Aurobindo Pharma, Lupin, Opto Circuits, Apollo Hospitals, Cadila Healthcare, Nicholas Piramal, Sterling Biotech, Matrix Laboratories, Fortis Healthcare, Biocon, Novartis and Wockhardt were among the major gainers from the healthcare sector.
Midcap stock LIC Housing Finance vaulted 19.15%. Micro Inks, IVRCL Infrastructure, Educomp Solutions, United Breweries, Emami, EID Parry, Ballarpur Industries, Penland, KS Oils, Take Solutions, Bharat Bijli and Ispat Industries also finished with sparkling gains.
Thanks to widespread buying, the market breadth remained very strong today. Out of 2798 stocks traded on BSE, as many as 2089 stocks ended on a positive note. 658 stocks closed in the negative zone while 51 stocks ended at their previous closing levels.
Biggest Gain: Sensex ends up 879pts
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.sify.com www.business-standard.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers
Day's Quote/Corporate Story
Quote of the Day
" There is no such thing as luck. Prepare and you will receive many opportunities."
Corporate/Personality of the Day
Naresh Goyal
Naresh Goyal (नरेश गोयल) is the founder Chairman of Jet Airways. He started operating Jet Airways in 1993. Following the 2005 IPO of Jet Airways, Forbes magazine declared him the 16th richest person in India with a net worth of $1.9 billion.
He has just taken over Air Sahara giving his company 32% of the Indian travel market
Further, Visit: http://en.wikipedia.org/wiki/Naresh_Goyal
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers
" There is no such thing as luck. Prepare and you will receive many opportunities."
Corporate/Personality of the Day
Naresh Goyal
Naresh Goyal (नरेश गोयल) is the founder Chairman of Jet Airways. He started operating Jet Airways in 1993. Following the 2005 IPO of Jet Airways, Forbes magazine declared him the 16th richest person in India with a net worth of $1.9 billion.
He has just taken over Air Sahara giving his company 32% of the Indian travel market
Further, Visit: http://en.wikipedia.org/wiki/Naresh_Goyal
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers
22 October 2007
Result Calendar: 23 Oct 2007
Results Calender
Agro Tech Foods 23-Oct-07
Amara Raja Batt 23-Oct-07
Apollo Hospital 23-Oct-07
Ashok Leyland 23-Oct-07
BASF 23-Oct-07
Binani Cement 23-Oct-07
Binani Ind 23-Oct-07
Bio Green Ind 23-Oct-07
Britannia 23-Oct-07
Coromandel Fert 23-Oct-07
Cybertech 23-Oct-07
Deepak Fert 23-Oct-07
Finolex Cables 23-Oct-07
Firstsource Sol 23-Oct-07
Gandhi Spl Tube 23-Oct-07
Garden Silk Mil 23-Oct-07
Gemini Comm 23-Oct-07
GlaxoSmithKline 23-Oct-07
Godrej Consumer 23-Oct-07
Greenply Ind 23-Oct-07
GSFC 23-Oct-07
Guj Alkali 23-Oct-07
Gujarat Apollo 23-Oct-07
Hind Oil Explor 23-Oct-07
Hind Rectifiers 23-Oct-07
IG Petro 23-Oct-07
India Infoline 23-Oct-07
Indiabulls 23-Oct-07
Jain Irrigation 23-Oct-07
JK Tyre & Ind 23-Oct-07
Lumax Auto 23-Oct-07
Madras Cements 23-Oct-07
Mangalam Cement 23-Oct-07
MIC Electronics 23-Oct-07
Micro Inks 23-Oct-07
Mindtree Cons 23-Oct-07
Mukta Arts 23-Oct-07
NALCO 23-Oct-07
NELCO 23-Oct-07
Novartis India 23-Oct-07
Oriental Hotels 23-Oct-07
Panacea Biotech 23-Oct-07
Pidilite Ind 23-Oct-07
Provogue 23-Oct-07
PTC India 23-Oct-07
Punj Tractors 23-Oct-07
Ramcoind 23-Oct-07
RPG Life Sci 23-Oct-07
Satyam 23-Oct-07
Seamec 23-Oct-07
Shree Cements 23-Oct-07
Shri Shakti LPG 23-Oct-07
Shringar Cinema 23-Oct-07
Subex Azure 23-Oct-07
Suzlon Energy 23-Oct-07
Transwarranty 23-Oct-07
Uflex 23-Oct-07
Wire & Wireless 23-Oct-07
Wockhardt 23-Oct-07
Zee Entertain 23-Oct-07
Agro Tech Foods 23-Oct-07
Amara Raja Batt 23-Oct-07
Apollo Hospital 23-Oct-07
Ashok Leyland 23-Oct-07
BASF 23-Oct-07
Binani Cement 23-Oct-07
Binani Ind 23-Oct-07
Bio Green Ind 23-Oct-07
Britannia 23-Oct-07
Coromandel Fert 23-Oct-07
Cybertech 23-Oct-07
Deepak Fert 23-Oct-07
Finolex Cables 23-Oct-07
Firstsource Sol 23-Oct-07
Gandhi Spl Tube 23-Oct-07
Garden Silk Mil 23-Oct-07
Gemini Comm 23-Oct-07
GlaxoSmithKline 23-Oct-07
Godrej Consumer 23-Oct-07
Greenply Ind 23-Oct-07
GSFC 23-Oct-07
Guj Alkali 23-Oct-07
Gujarat Apollo 23-Oct-07
Hind Oil Explor 23-Oct-07
Hind Rectifiers 23-Oct-07
IG Petro 23-Oct-07
India Infoline 23-Oct-07
Indiabulls 23-Oct-07
Jain Irrigation 23-Oct-07
JK Tyre & Ind 23-Oct-07
Lumax Auto 23-Oct-07
Madras Cements 23-Oct-07
Mangalam Cement 23-Oct-07
MIC Electronics 23-Oct-07
Micro Inks 23-Oct-07
Mindtree Cons 23-Oct-07
Mukta Arts 23-Oct-07
NALCO 23-Oct-07
NELCO 23-Oct-07
Novartis India 23-Oct-07
Oriental Hotels 23-Oct-07
Panacea Biotech 23-Oct-07
Pidilite Ind 23-Oct-07
Provogue 23-Oct-07
PTC India 23-Oct-07
Punj Tractors 23-Oct-07
Ramcoind 23-Oct-07
RPG Life Sci 23-Oct-07
Satyam 23-Oct-07
Seamec 23-Oct-07
Shree Cements 23-Oct-07
Shri Shakti LPG 23-Oct-07
Shringar Cinema 23-Oct-07
Subex Azure 23-Oct-07
Suzlon Energy 23-Oct-07
Transwarranty 23-Oct-07
Uflex 23-Oct-07
Wire & Wireless 23-Oct-07
Wockhardt 23-Oct-07
Zee Entertain 23-Oct-07
Result Updates
Hindustan Zinc Q2 net profit at Rs 1,148 cr
Hindustan Zinc has come out with second quarter numbers. It has posted net profit of Rs 1,148 crore for the quarter ended September 2007 as against Rs 1,298 crore in same quarter of previous year.
Net sales stood at Rs 1,984 crore and other income increased to Rs 144 crore from Rs 46 crore.
Strong disbursements growth fuel profitability of Dewan Hsg
Dewan Housing has declared its second quarter numbers. Its second quarter net profit stood at Rs 16.2 crore versus Rs 11.5 crore, QoQ.
It total income stood at Rs 125.4 crore versus Rs 76 crore.
Dewan Housing - Strong disbursements growth fuel profitability
NII up 57.6% to Rs 36.58 crore versus Rs 23.21 crore, driven by strong disbursments growth @ 12.37% yoy as well as decline in cost of funds which helped improve margins
Company targets disbursements growth @ 25-30% yoy for next 5 years driven by retail segment
Staff expenses went up by 62% yoy to Rs 4.13 crore, while other operating expenses rose 67.6% yoy to Rs 11.44 crore; which can be attributed to expansion in branch network
Disbursements/Sanctions ratio stood at 87.89% for Q2
PAT grew 41.3% yoy to Rs 16.16 crore versus Rs 11.43 crore, supported by strong topline and contained operating expenses
NPAs remain under check, @ 1.2% of total loans
Effective tax rate also increased slightly to 22% from 15% yoy
Declared interim dividend at Rs 1.50/sh (15%).
LIC Housing Finance: Results exceeds expectations:
LIC Housing Finance: Results exceeds expectations.
Stronger than expected disbursements growth with margin expansion led to above expected profit growth- NII grew 435 yoy to Rs 162.74 cr vs Rs 116.33cr driven by strong individual loan growth, which rose to Rs 183.4bn- NIMs expanded 56 bps to 3.24% vs 2.68% , surpassing our expected 2.5% margins, on the back of 134 bps expansion in yields to 10.3% from 8.96% following the wake of rate hikes by the company. Rise in yields was higher than 84 bps rise in cost of funds to 8.55%.- Asset quality remained strong despite high share of retail lending , Net NPAs at 1.65% and we expect it to decline to close to 1% by end FY08e- Loan-to-Value ratio stood at 53%, down from 58% , indiacting lower level of risk taken by the HFC- PAT grew 53% yoy to Rs 116.37cr vs Rs 75.93 cr, driven by strong core earnings and spurred on by provision write-back of Rs 13.62cr this qtr.
Eicher Motors Q2 net profit at Rs 16.7 cr
Eicher Motors has announced its second quarter numbers. It has reported net profit of Rs 16.7 crore and net sales of Rs 537 crore.
Sonata Software Q2 net profit at Rs 12cr
Sonata Software has declared its Q2 results. Its Q2 net profit stood at Rs 12 crore versus Rs 14 crore, QoQ.
PSL net rises 41.49% in Sep`07 qtr
PSL disclosed a good increase in net profit for the quarter ended September 2007. During the quarter, the company experienced a 41.49% rise in profit to Rs 191.30 million from Rs 135.20 million in the quarter ended September 2006.Net sales for the quarter rose 60.86% to Rs 4,964.50 million compared with Rs 3,086.20 million in the corresponding quarter, a year ago
Finolex Industries net rises 19.55% for Sep`07 qtr
Finolex Industries, the largest PVC pipe manufacturer in India, disclosed a steady rise in net profit for the quarter ended September 2007. During the quarter, the company experienced a 19.55% rise in profit to Rs 239.09 million from Rs 199.98 million in the quarter ended September 2006.Net sales for the quarter rose 66.64% to Rs 3,264.28 million compared with Rs 1,961.16 million in the corresponding quarter, a year ago. Total income rose 68.17% to Rs 3,449.93 million for the quarter ended September 2007 from Rs 2,051.36 million for the same period, last year
Ingersoll-Rand net rises 5.76% for Sep`07 qtr
Lumax Industries net rises 7.94% in Sep`07 qtr
Rolta India consolidated net up 44.21% in Sep`07 qtr
On consolidated basis, Rolta India, (Q, N,C,F)* a global market leader in providing specialized IT-based solutions to the geospatial and engineering sectors, posted 44.21% rise in net profit after minority interest to Rs 538.20 million for the quarter ended Sep. 30, 2007 as compared with Rs 373.20 million for the quarter ended Sep. 30, 2006. Total income increased 46.65% to Rs 2,306.60 million for the quarter ended Sep. 30, 2007 from Rs 1,572.80 million for the quarter ended Sep. 30, 2006.The company, on standalone basis, disclosed 53.34% rise in net profit to Rs 613.90 million for the quarter ended Sep. 30, 2007 as compared with Rs 400.35 million for the same quarter, last year. Total income increased 52.34% to Rs 2,036.40 million for the quarter ended Sep. 30, 2007 from Rs 1,336.70 million for the same quarter, a year ago.
Net sales for the quarter grew 47.37% to Rs 1,933.50 million as compared with Rs 1,311.94 million in the corresponding quarter, last year.
Zensar Technologies net rises 2.55 times in Sep`07 qtr
DHFL net rises 41.34% in Sep`07 qtr
Gujarat Fluorochemicals Q2 net zooms 55.44%
HZL net drops 11.55% for Sep`07 qtr
HCL Infosystems consolidated net rises 7.54% in Sep`07 qtr
Inox Leisure net up 19.4% for Sep`07 qtr
Inox Leisure registered a 19.40% growth in net profit to Rs 83.10 million for the quarter ended September 2007 from a profit of Rs 69.60 million for the correponding quarter, last year.
Net sales rose 39.08% to Rs 541.70 million for the quarter ended September 2007 from Rs 389.50 million in the same quarter, a year ago.
Total income rose 45.20% to Rs 580.20 million for the quarter ended September 2007, from Rs 399.60 million for the quarter ended September 2006.
India Cements net jumps 90% in Q2 (update)
Southern cement major, India Cements (Q, N,C,F)* announced a 89.78% jump in net profit at Rs 2,226.50 million for the quarter ended September 2007 compared with Rs 1173.20 million for the quarter ended September 2006. Net Sales rose 72.41% to Rs 8,902.30 million in the quarter from Rs 5,163.50 million in the same quarter, a year ago.Total Income rose 73.26% to Rs 8,960.90 million for the quarter ended September 2007 where as the same was at Rs 5,171.80.00 million for the quarter ended September 2006.
IL&FS Investment Managers Q2 net climbs 60.78%
IL&FS Investment Managers announced a 60.78% jump in net profit at Rs 59.81 million for the quarter ended September 2007 compared with Rs 37.20 million for the corresponding quarter, last year.
Operating Income rose 53.17% to Rs 172.06 million in the quarter from Rs 114.29 million in the same quarter, a year ago
Shanthi Gears net up 52% in Sep`07 qtr
Shanthi Gears announced a 52.44% jump in net profit at Rs 105.03 million for the quarter ended September 2007, compared with Rs 68.90 million for the quarter ended September 2006.
Net Sales rose 26.16% to Rs 593.65 million in the quarter from Rs 470.55 million in the same quarter, a year ago.Total Income stood at Rs 595.59 million for the quarter ended September 2007, where as the same was at Rs 471.04 million for the quarter ended September 2006.
Zandu Pharmaceutical net up 8.50% for Sep`07 qtr
India Glycols Q2 net jumps 2.33 times
India`s biggest ethoxylate, glycol manufacturer, India Glycols (Q, N,C,F)* registered a phenomenal rise of 2.33 times in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 482.7 million, from Rs 206.9 million, in the same quarter of the previous year. Earnings per share for the quarter jumped 2.33 times to Rs 17.31 compared with the same quarter, a year ago
GNFC net rises 63% in Sep`07 qtr
Gujarat Narmada Valley Fertilizers (GNFC) announced a 63.06% jump in net profit of Rs 1,205.80 million for the quarter ended September 2007 where as the same was at Rs 739.50 million for the quarter ended September 2006. Net Sales rose 65.91% to Rs 11,411.80 million from Rs 6,878.30 million a year ago.
Emco Q2 net climbs 19.29%
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.indiaearnings.com www.myiris.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Hindustan Zinc has come out with second quarter numbers. It has posted net profit of Rs 1,148 crore for the quarter ended September 2007 as against Rs 1,298 crore in same quarter of previous year.
Net sales stood at Rs 1,984 crore and other income increased to Rs 144 crore from Rs 46 crore.
Strong disbursements growth fuel profitability of Dewan Hsg
Dewan Housing has declared its second quarter numbers. Its second quarter net profit stood at Rs 16.2 crore versus Rs 11.5 crore, QoQ.
It total income stood at Rs 125.4 crore versus Rs 76 crore.
Dewan Housing - Strong disbursements growth fuel profitability
NII up 57.6% to Rs 36.58 crore versus Rs 23.21 crore, driven by strong disbursments growth @ 12.37% yoy as well as decline in cost of funds which helped improve margins
Company targets disbursements growth @ 25-30% yoy for next 5 years driven by retail segment
Staff expenses went up by 62% yoy to Rs 4.13 crore, while other operating expenses rose 67.6% yoy to Rs 11.44 crore; which can be attributed to expansion in branch network
Disbursements/Sanctions ratio stood at 87.89% for Q2
PAT grew 41.3% yoy to Rs 16.16 crore versus Rs 11.43 crore, supported by strong topline and contained operating expenses
NPAs remain under check, @ 1.2% of total loans
Effective tax rate also increased slightly to 22% from 15% yoy
Declared interim dividend at Rs 1.50/sh (15%).
LIC Housing Finance: Results exceeds expectations:
LIC Housing Finance: Results exceeds expectations.
Stronger than expected disbursements growth with margin expansion led to above expected profit growth- NII grew 435 yoy to Rs 162.74 cr vs Rs 116.33cr driven by strong individual loan growth, which rose to Rs 183.4bn- NIMs expanded 56 bps to 3.24% vs 2.68% , surpassing our expected 2.5% margins, on the back of 134 bps expansion in yields to 10.3% from 8.96% following the wake of rate hikes by the company. Rise in yields was higher than 84 bps rise in cost of funds to 8.55%.- Asset quality remained strong despite high share of retail lending , Net NPAs at 1.65% and we expect it to decline to close to 1% by end FY08e- Loan-to-Value ratio stood at 53%, down from 58% , indiacting lower level of risk taken by the HFC- PAT grew 53% yoy to Rs 116.37cr vs Rs 75.93 cr, driven by strong core earnings and spurred on by provision write-back of Rs 13.62cr this qtr.
Eicher Motors Q2 net profit at Rs 16.7 cr
Eicher Motors has announced its second quarter numbers. It has reported net profit of Rs 16.7 crore and net sales of Rs 537 crore.
Sonata Software Q2 net profit at Rs 12cr
Sonata Software has declared its Q2 results. Its Q2 net profit stood at Rs 12 crore versus Rs 14 crore, QoQ.
PSL net rises 41.49% in Sep`07 qtr
PSL disclosed a good increase in net profit for the quarter ended September 2007. During the quarter, the company experienced a 41.49% rise in profit to Rs 191.30 million from Rs 135.20 million in the quarter ended September 2006.Net sales for the quarter rose 60.86% to Rs 4,964.50 million compared with Rs 3,086.20 million in the corresponding quarter, a year ago
Finolex Industries net rises 19.55% for Sep`07 qtr
Finolex Industries, the largest PVC pipe manufacturer in India, disclosed a steady rise in net profit for the quarter ended September 2007. During the quarter, the company experienced a 19.55% rise in profit to Rs 239.09 million from Rs 199.98 million in the quarter ended September 2006.Net sales for the quarter rose 66.64% to Rs 3,264.28 million compared with Rs 1,961.16 million in the corresponding quarter, a year ago. Total income rose 68.17% to Rs 3,449.93 million for the quarter ended September 2007 from Rs 2,051.36 million for the same period, last year
Ingersoll-Rand net rises 5.76% for Sep`07 qtr
Lumax Industries net rises 7.94% in Sep`07 qtr
Rolta India consolidated net up 44.21% in Sep`07 qtr
On consolidated basis, Rolta India, (Q, N,C,F)* a global market leader in providing specialized IT-based solutions to the geospatial and engineering sectors, posted 44.21% rise in net profit after minority interest to Rs 538.20 million for the quarter ended Sep. 30, 2007 as compared with Rs 373.20 million for the quarter ended Sep. 30, 2006. Total income increased 46.65% to Rs 2,306.60 million for the quarter ended Sep. 30, 2007 from Rs 1,572.80 million for the quarter ended Sep. 30, 2006.The company, on standalone basis, disclosed 53.34% rise in net profit to Rs 613.90 million for the quarter ended Sep. 30, 2007 as compared with Rs 400.35 million for the same quarter, last year. Total income increased 52.34% to Rs 2,036.40 million for the quarter ended Sep. 30, 2007 from Rs 1,336.70 million for the same quarter, a year ago.
Net sales for the quarter grew 47.37% to Rs 1,933.50 million as compared with Rs 1,311.94 million in the corresponding quarter, last year.
Zensar Technologies net rises 2.55 times in Sep`07 qtr
DHFL net rises 41.34% in Sep`07 qtr
Gujarat Fluorochemicals Q2 net zooms 55.44%
HZL net drops 11.55% for Sep`07 qtr
HCL Infosystems consolidated net rises 7.54% in Sep`07 qtr
Inox Leisure net up 19.4% for Sep`07 qtr
Inox Leisure registered a 19.40% growth in net profit to Rs 83.10 million for the quarter ended September 2007 from a profit of Rs 69.60 million for the correponding quarter, last year.
Net sales rose 39.08% to Rs 541.70 million for the quarter ended September 2007 from Rs 389.50 million in the same quarter, a year ago.
Total income rose 45.20% to Rs 580.20 million for the quarter ended September 2007, from Rs 399.60 million for the quarter ended September 2006.
India Cements net jumps 90% in Q2 (update)
Southern cement major, India Cements (Q, N,C,F)* announced a 89.78% jump in net profit at Rs 2,226.50 million for the quarter ended September 2007 compared with Rs 1173.20 million for the quarter ended September 2006. Net Sales rose 72.41% to Rs 8,902.30 million in the quarter from Rs 5,163.50 million in the same quarter, a year ago.Total Income rose 73.26% to Rs 8,960.90 million for the quarter ended September 2007 where as the same was at Rs 5,171.80.00 million for the quarter ended September 2006.
IL&FS Investment Managers Q2 net climbs 60.78%
IL&FS Investment Managers announced a 60.78% jump in net profit at Rs 59.81 million for the quarter ended September 2007 compared with Rs 37.20 million for the corresponding quarter, last year.
Operating Income rose 53.17% to Rs 172.06 million in the quarter from Rs 114.29 million in the same quarter, a year ago
Shanthi Gears net up 52% in Sep`07 qtr
Shanthi Gears announced a 52.44% jump in net profit at Rs 105.03 million for the quarter ended September 2007, compared with Rs 68.90 million for the quarter ended September 2006.
Net Sales rose 26.16% to Rs 593.65 million in the quarter from Rs 470.55 million in the same quarter, a year ago.Total Income stood at Rs 595.59 million for the quarter ended September 2007, where as the same was at Rs 471.04 million for the quarter ended September 2006.
Zandu Pharmaceutical net up 8.50% for Sep`07 qtr
India Glycols Q2 net jumps 2.33 times
India`s biggest ethoxylate, glycol manufacturer, India Glycols (Q, N,C,F)* registered a phenomenal rise of 2.33 times in net profit for the quarter ended September 2007. During the quarter, the company saw a rise in net profit to Rs 482.7 million, from Rs 206.9 million, in the same quarter of the previous year. Earnings per share for the quarter jumped 2.33 times to Rs 17.31 compared with the same quarter, a year ago
GNFC net rises 63% in Sep`07 qtr
Gujarat Narmada Valley Fertilizers (GNFC) announced a 63.06% jump in net profit of Rs 1,205.80 million for the quarter ended September 2007 where as the same was at Rs 739.50 million for the quarter ended September 2006. Net Sales rose 65.91% to Rs 11,411.80 million from Rs 6,878.30 million a year ago.
Emco Q2 net climbs 19.29%
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.indiaearnings.com www.myiris.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Economic Times Headlines
SEBI has enough replies on P-Notes curb
SEBI probing FII price manipulation in crash
SEBI to make FII registration public
CRISIL assigns 4/5 grading to Edelweiss Capital's IPO
Mundra Port, SEZ plans to raise Rs 1,500 cr via IPO
Maytas Infra fixes IPO issue at Rs 370
Religare sets IPO band, eyes up to $35 mn
Five richest lose further $2.75 bn despite halt in mkt plunge
Godrej Consumer July-Sept net seen up 38 pc
Dewan Housing July-Sept net at Rs 162 mn
Orient Paper July-Sept net Rs 583.2 mn
GTL Q2 net profit at Rs 45.43 cr
LIC Housing Finance net up 53 pc at Rs 116.37 cr
KS Oils July-Sept net at Rs 265.8 mn
Dish TV July-Sept net loss Rs 919.4 mn
India Cement Q2 net profit up 90%
Triveni in pact with GE for compressors
ONGC-Mittal Energy Ltd buys 30 pc in Turkmenistan block
Remsons to form JV with Orscheln Products LLC
JSW Steel to consider Southern Iron merger
Gulf investors raise $630 mn for Energy City in India
Ennore Foundries plans Rs 300 cr plant
Sri Lanka buys 300KB of gas oil from Reliance
Bombay Rayon plans JV to launch global brands in India
Investors can expect a bumpy ride this week
Technical Analysis Wrap
'Banking shares an attractive bet'
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.theeconomictimes.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
SEBI probing FII price manipulation in crash
SEBI to make FII registration public
CRISIL assigns 4/5 grading to Edelweiss Capital's IPO
Mundra Port, SEZ plans to raise Rs 1,500 cr via IPO
Maytas Infra fixes IPO issue at Rs 370
Religare sets IPO band, eyes up to $35 mn
Five richest lose further $2.75 bn despite halt in mkt plunge
Godrej Consumer July-Sept net seen up 38 pc
Dewan Housing July-Sept net at Rs 162 mn
Orient Paper July-Sept net Rs 583.2 mn
GTL Q2 net profit at Rs 45.43 cr
LIC Housing Finance net up 53 pc at Rs 116.37 cr
KS Oils July-Sept net at Rs 265.8 mn
Dish TV July-Sept net loss Rs 919.4 mn
India Cement Q2 net profit up 90%
Triveni in pact with GE for compressors
ONGC-Mittal Energy Ltd buys 30 pc in Turkmenistan block
Remsons to form JV with Orscheln Products LLC
JSW Steel to consider Southern Iron merger
Gulf investors raise $630 mn for Energy City in India
Ennore Foundries plans Rs 300 cr plant
Sri Lanka buys 300KB of gas oil from Reliance
Bombay Rayon plans JV to launch global brands in India
Investors can expect a bumpy ride this week
Technical Analysis Wrap
'Banking shares an attractive bet'
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.theeconomictimes.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Sebi’s move is absolutely welcome: PwC India
Sebi’s move is absolutely welcome: PwC India
Dinesh Kanabar, Tax Head, PwC India feels that in any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective, he believes that Sebi’s move is absolutely a welcome move. He thinks that some of M Damodaran’s announcements today were very heartening.
Q: This move towards regulating the markets, what is your take on the transitional and how its been handled?
A: In any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective. I would like to believe this is absolutely a welcome move and I thought as I heard the Sebi chief today, he made some announcement which were very heartening.
Q: Such as?
A: One has to see the fine print. But the fact that the one-year timeframe which one needs a track record, is something, which it is willing to relook at it. If you look at when you register as an FII, what are the two key concerns which come in.
One is that you need a one-year timeframe. Second is the issue that you need to be registered regulated in the country where you are setup in the home country. Both of these are areas of concern. So far as one-year is concerned, it becomes a real big issue because over the last one-year, there have been several India funds which have been setup; India being the flavour of the day.
And if these funds suddenly cannot make investment because I’m aware of several funds which have raised hundreds of millions of dollars specifically, India-specific and these are not proprietary books. The question is how will they make investments suddenly with this new regime and therefore, the ability of the regulator to go beyond this one-year mechanism; look for example the track record of the people who are managing it or what is the other transparency which is available is very critical factor. Second issue is that one always wants regulated money.
But the question is that there are certain funds, which could have been actually registered and not regulated is that sufficient? Is that not sufficient?
So bit of discretion available in the transitionary phase, which is going to be something, which is very welcome, and today as I heard Mr. Damodaran he was open to this, he was welcoming those suggestions and will probably incorporate some of those when things come out on 25th.
Q: Did you feel at all in the interaction that Mr. Damodaran had with FIIs, that on October 25, there would be a softening or some kind of relaxing in the stance that Sebi has taken in the proposals?
A: There are two things, one is a procedural aspect, which has become a very significant roadblock. It was how long does it take for an FII to be registered and the apprehensions to whether Sebi will be quick on its feet.
Mr. Damodaran made a categorical statement, which is very welcome. It was that they will be quick on their feet. Somebody misunderstood the 24-hour notice to mean that they get registered in 24 hours and that cannot happen. Of course, Mr. Damodaran did say that there are FIIs which submitted incomplete applications and things like that, but those are few and far between.
Q: Are there language problems and stuff like that?
A: What is needed is a clear set of guidelines, which should come out, because this is a procedure and not a law. Therefore, its not documented and anything that is not documented, anything which is not in the public domain and of which people are not aware how to tackle becomes a subject matter of discretion and that is something which causes anguish.
For example- we as advisors tell FIIs what they need to do to qualify to be registered with Sebi. When you do not have transparent guidelines, problems arise.
Today, what Mr. Damodaran said is that he is willing to quicken the process and hopefully, it will come out with a transparent set of guidelines. So, that is going to soften the blow very significantly.
Q: Have you heard anything on the buzz about turnover tax perhaps being coming in on P-notes?
A: All sets of rumors are going around. I do not think I have heard anybody talk concretely about this matter. But there has been this issue that when P-notes get sort of unofficially traded, there is no security transaction tax. Probably the rumor seems to be around that instead of a security transaction tax, can we have a turnover tax on P-notes. I do not know whether it is feasible and how it can be monitored. But that seems to be the discussion going around.
Q: Ever since these proposals came to light and into the public arena, there has been this question of whether these moves were being made to control the quantum of flow or to monitor the quality of flows. Is there any light on that debate?
A: I do not know as I saw the three page policy paper which came out. It categorically speaks of both quality and quantity and one was a bit surprised with that.
But today as we heard Mr. Damodaran, he was quite clear that he was not worried about the quantum of flows. He had no concerns with that, he was only worried about the quality of the flows.
Q: In fact I thought that the Finance Minster in New York said something that was not really exactly what Mr. Damodaran was saying, isn’t it?
A: Today, the fears seemed to be allayed. To say that we are really looking at transparency and that was the buzz word. But the policy paper is in black and white and speaks about both quality as well as quantity.
Other related stories:
Sub A/Cs need to inform within 24 hrs to register: Sebi
Foreign money welcome, only through front door: FM
Were FIIs concerns addressed?
How does Sebi's talk impact sub A/cs?
Sebi move to help achieve stable mkt: Oppenheimer
PNs can invest in India, but as FIIs: FM
SEBI justifiably nervous of Participatory Notes
SEBI has enough replies on P-Notes curb
SEBI probing FII price manipulation in crash
SEBI to make FII registration public
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.moneycontrol.com and www.theeconomictimes.com for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Dinesh Kanabar, Tax Head, PwC India feels that in any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective, he believes that Sebi’s move is absolutely a welcome move. He thinks that some of M Damodaran’s announcements today were very heartening.
Q: This move towards regulating the markets, what is your take on the transitional and how its been handled?
A: In any emerging market, you need to move towards maturity and maturity requires transparency, maturity requires regulation and from that perspective. I would like to believe this is absolutely a welcome move and I thought as I heard the Sebi chief today, he made some announcement which were very heartening.
Q: Such as?
A: One has to see the fine print. But the fact that the one-year timeframe which one needs a track record, is something, which it is willing to relook at it. If you look at when you register as an FII, what are the two key concerns which come in.
One is that you need a one-year timeframe. Second is the issue that you need to be registered regulated in the country where you are setup in the home country. Both of these are areas of concern. So far as one-year is concerned, it becomes a real big issue because over the last one-year, there have been several India funds which have been setup; India being the flavour of the day.
And if these funds suddenly cannot make investment because I’m aware of several funds which have raised hundreds of millions of dollars specifically, India-specific and these are not proprietary books. The question is how will they make investments suddenly with this new regime and therefore, the ability of the regulator to go beyond this one-year mechanism; look for example the track record of the people who are managing it or what is the other transparency which is available is very critical factor. Second issue is that one always wants regulated money.
But the question is that there are certain funds, which could have been actually registered and not regulated is that sufficient? Is that not sufficient?
So bit of discretion available in the transitionary phase, which is going to be something, which is very welcome, and today as I heard Mr. Damodaran he was open to this, he was welcoming those suggestions and will probably incorporate some of those when things come out on 25th.
Q: Did you feel at all in the interaction that Mr. Damodaran had with FIIs, that on October 25, there would be a softening or some kind of relaxing in the stance that Sebi has taken in the proposals?
A: There are two things, one is a procedural aspect, which has become a very significant roadblock. It was how long does it take for an FII to be registered and the apprehensions to whether Sebi will be quick on its feet.
Mr. Damodaran made a categorical statement, which is very welcome. It was that they will be quick on their feet. Somebody misunderstood the 24-hour notice to mean that they get registered in 24 hours and that cannot happen. Of course, Mr. Damodaran did say that there are FIIs which submitted incomplete applications and things like that, but those are few and far between.
Q: Are there language problems and stuff like that?
A: What is needed is a clear set of guidelines, which should come out, because this is a procedure and not a law. Therefore, its not documented and anything that is not documented, anything which is not in the public domain and of which people are not aware how to tackle becomes a subject matter of discretion and that is something which causes anguish.
For example- we as advisors tell FIIs what they need to do to qualify to be registered with Sebi. When you do not have transparent guidelines, problems arise.
Today, what Mr. Damodaran said is that he is willing to quicken the process and hopefully, it will come out with a transparent set of guidelines. So, that is going to soften the blow very significantly.
Q: Have you heard anything on the buzz about turnover tax perhaps being coming in on P-notes?
A: All sets of rumors are going around. I do not think I have heard anybody talk concretely about this matter. But there has been this issue that when P-notes get sort of unofficially traded, there is no security transaction tax. Probably the rumor seems to be around that instead of a security transaction tax, can we have a turnover tax on P-notes. I do not know whether it is feasible and how it can be monitored. But that seems to be the discussion going around.
Q: Ever since these proposals came to light and into the public arena, there has been this question of whether these moves were being made to control the quantum of flow or to monitor the quality of flows. Is there any light on that debate?
A: I do not know as I saw the three page policy paper which came out. It categorically speaks of both quality and quantity and one was a bit surprised with that.
But today as we heard Mr. Damodaran, he was quite clear that he was not worried about the quantum of flows. He had no concerns with that, he was only worried about the quality of the flows.
Q: In fact I thought that the Finance Minster in New York said something that was not really exactly what Mr. Damodaran was saying, isn’t it?
A: Today, the fears seemed to be allayed. To say that we are really looking at transparency and that was the buzz word. But the policy paper is in black and white and speaks about both quality as well as quantity.
Other related stories:
Sub A/Cs need to inform within 24 hrs to register: Sebi
Foreign money welcome, only through front door: FM
Were FIIs concerns addressed?
How does Sebi's talk impact sub A/cs?
Sebi move to help achieve stable mkt: Oppenheimer
PNs can invest in India, but as FIIs: FM
SEBI justifiably nervous of Participatory Notes
SEBI has enough replies on P-Notes curb
SEBI probing FII price manipulation in crash
SEBI to make FII registration public
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