RIL Q1 net profit up 33.42% at Rs 4851 cr

 

Mukesh Ambani group's flagship company Reliance Industries (RIL) has announced its results for the quarter ended June 2010. It has reported net profit at Rs 4851 crore as against Rs 3636 crore, a growth of 33.42% on year-on-year basis.
Net sales jumped 81.65% to Rs 58,228 crore from Rs 32,055 crore. Numbers were in-line with expectations; CNBC-TV18 expected net sales at Rs 59,300 crore and net profit at Rs 4820 crore.
Refining revenues increased 106.81% to Rs 50,531 crore from Rs 24,434 crore and petchem revenue rose 18.8% to Rs 13,903 crore from Rs 11,707 crore (YoY).
Petchem earning before interest & tax (EBIT) declined to Rs 2,053 crore from Rs 2,109 crore while refining EBIT jumped to Rs 2,035 crore from Rs 1,299 crore.
Petchem margins came in at 14.8% and refining margins at 4%. Operating margins stood at 16%.
Gross refining margin (GRM) came in at USD 7.3 a barrel.

 

HUL Q1 net profit down 8.3% at Rs 512.4 cr 

L&T Q1 net profit up 15% at Rs 666 cr 

 RBI rates may make auto, home loans dearer

 RBI hikes short-term rates; CRR unchanged

Impact analysis: Monetary Policy Review

Result Analysis: Hindustan Unilever 

 

L&T net up 15% at Rs 666 cr

 

RESULT ANALYSIS: NTPC

 

 Src: ET, Smartinvestor, Moneycontrol

 

Morning VIews

Stock Switch Report

Technical Stock Switch

 

Technical Pick – Stock - Sintex Ind

Recommended Action is to sell.

 

 

Jet Airways: Konnect Select may give a lift 

Sterlite: Foray into ports to bring value 

 

 

BHEL:Topline faces heat

 

 

 

Ambuja:Potential for upside seen limited 

Idea Cellular: Not a good idea

 

 

Lower costs prop up margins

RESULT ANALYSIS: Dabur India

 

 

Maruti Suzuki: The parent trap 

Src: HDFCSEC, ET and Smartinvestor

 

 

 

Technical calls for the Week

26 Jul 2010 | 08:07

Technical Picks – Stocks

Recommended Action for State Bank of India is Buy on dips & for Bharat Electronics, Wockhardt Ltd is...

Weekly Market, Sectoral and Stock Perspective – Technicals

Technical Calls on YesBank,IndianBank,BF Utility and IBulls Finance 

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Market Outlook: RIL Result, RBI Meet eyed

TECHNICAL ANALYSIS: Index Outlook: Action-packed week ahead
It was one of those rare weeks in which index movement went almost unnoticed. Changes in takeover code and new GST system hogged the headlines along with the first quarter earnings, keeping the attention of market participants riveted. The ...

STOCKS: BHEL: Buy
Investment Focus. Bharat Heavy Electrical's (BHEL's) strong footing in the power equipment space has not come under much threat despite domestic and foreign competition. Combined with a strong order book and robust financials, BHEL's earnings ...

PUBLIC OFFER: Engineers India — FPO: Invest
The high-end engineering, design and consulting business of Engineers India is not only unique but also lucrative given its presence in the hydrocarbon space. Earnings growth of 38 per cent compounded annually over the last three years, a ...

STOCKS: Sesa Goa: Book profits
Iron ore major Sesa Goa appears to be a risky play in the metals space considering the uncertain outlook on iron ore realisations and demand from the export market. The company's reliance on the Chinese market, where iron ore prices and ...

STOCKS: Hitachi Home & Life Solutions (India): Buy
Investors with an appetite for risk can consider investing in the stock of Hitachi Home & Life Solutions (India) at the current price of Rs 337. The stock, though at a high now, offers scope for gains in the medium term given the pace ...

IPOS: SKS Microfinance IPO: Invest
Investors with a high risk appetite can consider subscribing to the Initial Public Offer (IPO) of SKS Microfinance, one of the largest microfinance NBFCs .

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Stock and Market Views

Seven banks fail Europe's test, need 3.5 billion euros

LONDON/MADRID: Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros ($4.5 billion), tests run in an attempt to revive investor confidence showed on Friday.

Five of Spain's smaller regional lenders, known as cajas, failed the test and their recapitalisation is likely to speed a restructuring of the troubled sector.

Banks in Germany and Greece were also seen as weak spots and in need of restructuring, but state-owned Hypo Real Estate was the only German lender to flunk and state-controlled ATEbank was the only Greek bank to fail.

Analysts had expected five to 10 banks to fail the test. As expected, no big banks failed the health check. German government bond futures hit one-month lows and the euro briefly pared its losses against the dollar after the results were released.

Europe tested how 91 banks would cope with another recession and losses on government debt after the Greek crisis hit markets and raised fears the euro zone could unravel. It aimed to repeat a health check on US banks last year that helped restore investor confidence and underpinned a recovery by bank shares.

More @  Seven banks fail Europe's test, need 3.5 billion euros

Analysts see steam left in mid-cap banks 

Chart: Mid-cap bank stocks buzzing

Wipro: Catching on 

RESULT ANALYSIS: Panacea Biotech 

RESULT ANALYSIS: Wipro

RESULT ANALYSIS: BHEL

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India to become a $5 trillion economy soon

 'India to become a $5 trillion economy soon'

AGPUR: US Consul General Paul Folmsbee on Friday said that the Indian economy has the potential to grow further and is likely to touch the $5 trillion mark in the near future.

"The Indian economy is growing fast and from the present $1.2 trillion, it is expected to become a $5-trillion economy very soon," Folmsbee, said without specifying a particular time frame while addressing management students at G S College of Commerce here.

The Consul General, who was in the city today for a seminar on 'Indo-US relations' also emphasised on the need for both countries to focus on vital issues like energy crisis, technology transfer, climate change, higher education and small as well as medium enterprises.

On the higher education scenario, particularly at the University level, Folmsbee said many US varsities were in the process of setting up their establishments in the country with Columbia University already establishing its institution in Mumbai.

On his first visit to the orange city, Folmsbee said he was here to study the issues of regional interest.

Ten banks to fail European stress tests: Goldman

JSW Steel may sell about 14% stake to JFE for $1 bn

NEW DELHI: Sajjan Jindal-led JSW Steel may sell about 14 per cent stake to Japan's JFE for Rs 4,700 crore to cut the company's debt.

"Talks between the two companies for stake sale have more or less concluded. JSW Steel may sell around 14 per cent stake to JFE," a source in the know of the development said.

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News Round-Up

Heard on the street: Bombay HC sets Aug 10 to hear Sebi-MCX-SX case

GDP growth may be closer to 8.2%: Goldman Sachs

Dabur India: Small can be beautiful 

Good business prospects give rise to bonus offers 

Season 2 set to end higher 

ITC: No huffing and puffing 

Daily News Roundup - July 23 2010

 

Earning reports fuel strong rally at Wall Street

 

PNB

 

United Spirits

 

Src: ET and DP blog and Smartinvestor.in

 

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