Orchid Chemicals & Pharmaceuticals ’ first quarter net profit fell 28% year-on-year to Rs 15.54 crore due to higher interest and finance charges and increased expenses.During the April-June quarter, Orchid Chemicals’ net sales were up 23% from a year ago to Rs 373.76 crore.
Friday 29 July 2011
ICICI Bank Results
ICICI Bank has declared its first quarter results. It has reported a sharp jump of 30% (YoY) in profit. During the period, net profit of the bank increased to Rs 1,332 crore against Rs 1,026 crore in the corresponding quarter of last fiscal.The bank’s net interest income went up over 21% to Rs 2,411 crore from Rs 1,991 crore year-on-year.Net interest margin of the bank declined to 2.6% in April-June quarter against 2.7% in the previous quarter.
IFB Agro Industries Results
IFB Agro Industries' Q1 net sales rose 40% to Rs 136 cr and PAT went up at Rs 9 cr vs Rs 1 cr (YoY)
Andhra Sugar Results
Andhra Sugar Q1 PAT jumped 2.8 times to Rs 19 cr (YoY). EBITDA Margin was at 18% vs 12%.
Thursday 28 July 2011
PNB Results
Punjab National Bank (PNB) has posted a rise of 3.5% in its first quarter of FY12 net profit. During the period, net profit increased to Rs 1,105 crore against Rs 1,068 crore in the corresponding quarter last fiscal.
Net interest income jumped over 19% to Rs 3,117 crore from Rs 2,618.6 crore in the year ago period
Vijaya Bank Results
Vijaya Bank reported a fall of more than 58% in its Q1FY12 net profit to Rs 72 cr. Net interest income too fell 37% to Rs 343 crore
Bata India Results
Net Sales for the quarter ended 30th June 2011 has increased by 22.7% over the corresponding period last year.
Profit before tax for the quarter ended 30th June 2011 of Rs. 6171.9 lacs has increased by 55.5% over the corresponding period last year
Profit before tax for the quarter ended 30th June 2011 of Rs. 6171.9 lacs has increased by 55.5% over the corresponding period last year
Bajaj Electricals Results
Bajaj Electricals reported a fall of 51% in Q1FY12 net profit to Rs 11.1 crore YoY.
Tuesday 26 July 2011
JSW Steel Results
JSW Steel posted net profit of Rs 485 crore for the quarter ended June 2011 as compared to Rs 295 crore in the same quarter a year ago. Total income increased to Rs 7432 crore from Rs 4818 crore.
United Phosphorous has acquired 51 per cent stake in DVA Agro Do Brasil from DVA Group
United Phosphorous has acquired 51 per cent stake in DVA Agro Do Brasil from DVA Group, Germany and other shareholders
Glenmark Pharmaceuticals has received $15 million from Salix Pharmaceuticals
Glenmark Pharmaceuticals has received $15 million from Salix Pharmaceuticals, Inc, USA. This is as per an agreement for advance against commitment fee which is to cover Glenmark's risks associated with upgrading its manufacturing facilities to meet Salix's anticipated increased requirements in demand for Crofelemer.
Reliance Industries Results
Reliance Industries, posted a 16.7 per cent rise in quarterly net profit to its highest ever, but lagged analysts' estimates as slowing gas production weighed on results. The company’s April-June net profit rose to Rs 5,661 crore from Rs 4,851 crore a year ago. Turnover achieved for the quarter ended 30th June 2011 was Rs 83,689 crore ($18.7 billion), an increase of 37.2% on a year-on-year basis
Shoppers Stop has opened store at Rohini
Shoppers Stop has opened one "Shoppers Stop" store at Rohini, New Delhi. With the opening of this store, the company has now 43 "Shoppers Stop" stores under its operation.
Maruti Q1 Results
Maruti Q1 net profit was at Rs 549 crore against Rs 465 crore (YoY). Net sales stood at Rs 8320 crore against Rs 8050 crore
Friday 22 July 2011
Cals Refinary to Import Second Hand Machinary for it's Haldia Project
Cals Refinary to Import Second Hand Machinary for it's Haldia Project
It may be mentioned that the Rs.1,425-crore foreign direct investment (FDI) proposal of the BSE-listed Cals Refinery has been recommended by the Foreign Investment Promotion Board to the Cabinet Committee of Economic Affairs for its consideration. The company had proposed the FDI for import of second-hand machinery for its Haldia refinery which has a capacity of 2 lakh barrels daily. The company had announced in March 2008 its intent to invest Rs.20,000 crore for the refinery project and also at the proposed Petroleum, Chemicals and Petrochemicals Investment Region project at West Bengal Nayachar. The product profile included naphtha, besides various grades of petrol, diesel and LPG. The project required 8,000 acres and as per its original schedule, it was to get completed in two phases beginning 2010, with refineries getting imported and transplanted at the project site.
It had also got the environmental clearance from the Union Environment and Forest Clearance Ministry in May 2009. It already has on hand an in-principle sanction from the West Bengal State Electricity Distribution Company. However, the meltdown and court cases with at least one of its equipment suppliers started dogging the project although it had achieved quite a few of its milestones like awarding an letter of intent to Saipem SpA of Italy for a detailed feasibility report in April 2011 and signing up with a Kuwaiti group for equity investment
L&T Finance says to raise Rs 1,250 cr in IPO
L&T Finance says to raise Rs 1,250 cr in IPO With a price band of Rs 51-59 per share Issue will remian open from 27th July to 29th of july
Union Bank of India Results
Union Bank of India ’s April-June net profit fell nearly 23% to Rs 464.4 crore as against Rs 601.4 crore in a year back. Provisions rose more than two-fold to Rs 464.42 crore as against Rs 197.27 crore during the corresponding quarter of the previous year.
Reliance Capital to sell a 23% stake in its life insurance business
Financial services firm Reliance Capital is in talks with state-run and private-sector lenders to sell a 23% stake in its life insurance business to boost distribution network
Vodafone revenue at 11.7bn pounds for June Quarter
Vodafone revenue at 11.7bn pounds for June Quarter
Axis Bank’s first quarter Results
Axis Bank’s first quarter net profit surged 27% year-on-year to Rs 942 crore, beating analysts’ estimates by a wide margin. Net interest income—climbed 14% to Rs 1724.1 crore, driven by a healthy growth in the loan book.Total advances or loans expanded more than 21% to Rs 1.32 lakh crore, surpassing the Reserve Bank of India’s credit growth projection of 19% in FY12.
Thermax Results
Thermax posted net profit of Rs 79.9 crore for quarter ended June 30, 2011 as compared to Rs 66.2 crore in the same quarter a year ago. Total income was up 32.2 per cent at Rs 1044.4 crore
Colgate Palmolive India Results
Oral and dental hygiene products maker Colgate Palmolive (India) reported a net profit of 1 billion rupees on net sales of 6.11 billion rupees for April-June quarter.Oral and personal care product maker Colgate Palmolive India missed street expectations as first quarter net profit fell 17.7% year-on-year to Rs 100.44 crore due to higher advertising and sales expenses and a rise in raw material costs.The company’s net sales for the April-June quarter were up 15.6% from a year ago to Rs 611.1 crore.
NHPC has signed MoU with the Orissa Hydro Power Corporation for the development of three hydroelectric projects
NHPC has signed a memorandum of understanding with the Orissa Hydro Power Corporation and Government of Orissa for setting up a joint venture company for the development of three hydroelectric projects in the State of Orissa with cumulative installed capacity of 300 MW.
3i Infotech Results
3i Infotech reported consolidated net profit of Rs 46.03 crore and net sales of Rs 479.39 crore for quarter ended June 2011.
Sesa Goa Results
Sesa Goa posted net profit of Rs 672.98 for quarter ended June 2011 where as the same was at Rs 1025.51 crore in the same period a year ago. Total income was at Rs 1831.68 crore as against Rs 2067.99 crore.
State Bank of Mysore results
The State Bank of Mysore reported its quarterly numbers. The net profit declined by 42.3% to Rs 64 crore compared to Rs 111 crore during the same quarter of the previous fiscal. On the other hand, the total income increased by 21% to Rs 1,291.8 crore versus 1,067.5 crore (YoY).
Allahabad Bank Results
Allahabad Bank today has posted a net profit of Rs 418.13 crore for the quarter ended June 30, 2011, up 20.44% as compared to Rs 347.14 crore for the corresponding quarter a year ago.
Bharti Airtel hikes call tariff to 1.2 paise per second in some circles
Bharti Airtel hikes call tariff to 1.2 paise per second in some circles
Monday 18 July 2011
Gold crosses 1600 USD Dollars
Gold crosses 1600 USD Dollars
Overseas spot gold touched a record high, on course for its longest winning run in a minimum of four decades, reflecting persistent worries regarding the euro zone debt crisis and a growing threat of a US government default.
* The rupee edged lower, dragged by the euro's losses against the greenback and weakness in most Asian currencies, however traders said greenback inflows tempered the autumn.
* The rupee plays a very important role in determining the landed value of the yellow metal, that is quoted in bucks.
* India, the world's biggest buyer of bullion, is within the middle of the sowing season, when farmers, the standard consumers of the yellow metal, divert their savings to agricultural equipment and fertilisers. Traders expect physical shopping for to start out late next
Overseas spot gold touched a record high, on course for its longest winning run in a minimum of four decades, reflecting persistent worries regarding the euro zone debt crisis and a growing threat of a US government default.
* The rupee edged lower, dragged by the euro's losses against the greenback and weakness in most Asian currencies, however traders said greenback inflows tempered the autumn.
* The rupee plays a very important role in determining the landed value of the yellow metal, that is quoted in bucks.
* India, the world's biggest buyer of bullion, is within the middle of the sowing season, when farmers, the standard consumers of the yellow metal, divert their savings to agricultural equipment and fertilisers. Traders expect physical shopping for to start out late next
SAIL FPO Likely near Diwali
SAIL FPO likely to hit the markets around Diwali ,SAIL FPO expected to mop up Rs 6,000 crore at current market price
Mahindra group’s realty arm to acquire three storey bungalow Mumbai from Orbit Corp for Rs 270 crore
Mahindra group’s realty arm to acquire a three storey bungalow in south Mumbai from Orbit Corp for Rs 270 crore
Steel Strips Wheels gets $32.6 m order from BMW
Steel Strips Wheels gets $32.6 m order from BMW. Company will supply wheels for BMW new launches in 2013, 2014
CBI summons India Cement, Dalmia Cements, PVP Ventures, Nava Bharat Ventures in Jagan assets case
CBI summons India Cement, Dalmia Cements, PVP Ventures, Nava Bharat Ventures in Jagan assets case
Gujarat NRE Coke Results
Gujarat NRE Coke reported standalone net profit of Rs 38.66 crore for quarter ended March 2011 against Rs 20.04 crore in the same quarter a year ago. Total income was at Rs 436.15 crore for the June quarter as against Rs 452.15 crore in the corresponding period last fiscal.
India Glycols Results
India Glycols reported net profit of Rs 25.77 crore for quarter ended June 2011 against loss of Rs 7.69 crore in the same period a year ago. Net sales stood at Rs 60.89 crore as compared to Rs 33.17 crore in the same period last fiscal.
Pratibha Industries led consortium has bagged Rs 1249 crore orders for Delhi Jal Board Projects
Pratibha Industries led consortium has bagged Rs 1249 crore orders for Delhi Jal Board Projects
Hexaware Technologies has signed a project worth around $ 177 million
Hexaware Technologies has signed a project worth around $ 177 million to be executed over a five-year period
Rolta India acquired ACLS Systems
Rolta India has acquired ACLS Systems, a public safety company, to enhance its homeland security and emergency response solutions
BASF India Results
BASF India reported net profit of Rs 52.66 crore for quarter ended June 2011 against 48.86 crore in the same quarter last fiscal. Total income stood at Rs 1016.34 crore as compared to Rs 663.61 crore in the corresponding period a year ago
Friday 15 July 2011
Suzlon Energy has bagged an order of 100 MW
Suzlon Energy has bagged an order from Orient Green Power for over 100 megawatts of wind power projects. The total order value stands at Rs 650 crore.
Onward Technologies Results
Onward Technologies reported net profit of Rs 1.68 crore for quarter ended June 2011 against 1.36 crore in the same period a year ago. Net sales were at Rs 27.97 crore as compared to Rs 22.49 crore in the corresponding quarter last fiscal
Govt is considering 10% stake sale in Oil India
Govt is considering 10% stake sale in Oil India. Oil India issue is likely in Q4FY12
Simbhaoli Sugars will consider hiving off its power business
Simbhaoli Sugars will consider hiving off its power business into Simbhaoli Power subsidiary of the company
Thursday 14 July 2011
TCS RESULTS
Profit increased from 2415 crore to 2623 crore QoQ, results are above expectations, Income increased from 10157 crore 10797 crose, operating margin reduced from 28.3% to 26.1%
Reliance is going to open first cash and carry store
Reliance is going to open first cash and carry store in Ahamdabad, store will become operational from october month
Reliance Power 8000 mw of power projects in Madhya Pradesh are on schedule
Reliance Power 8000 mw of power projects in Madhya Pradesh are on schedule. The company is proceeding ahead with the implementation of its projects as per schedule.
New Shares included in F&O Segment
Shares of Arvind, BF Utilities, Gitanjali Gems, JSW Energy, Jubilant Foodworks, South Indian Bank, TTK Prestige and VIP will be included in F&O segment.
SJVN Results
SJVN reported net profit of Rs 34.82 crore for quarter ended June 2011 against Rs 29.07 crore in the same quarter a year ago. Net sales were at Rs 55.35 crore as compared to 52.49 crore in the corresponding quarter last fiscal.
Repro India Results
Repro India reported net profit of Rs 8.69 crore for quarter ended June 2011 against Rs 2.93 crore in the same period a year ago. Net sales rose to Rs 71.43 crore as compared to 59.49 crore in the corresponding quarter last fiscal
Sonata Software’s Results
Sonata Software’s net profit slipped to Rs 11.89 crore for the quarter ended June 2011 against Rs 14.86 crore in the corresponding quarter a year ago. Total operating income was at Rs 62.42 crore as compared to Rs 62.95 crore.
3 Bomb blasts in Mumbai gives a Deep shock to India again
Terror struck Mumbai once once more on Wednesday when 3 bomb blasts rocked some of the most crowded places of the town killing at least twenty one individuals and injuring 113 others. the primary blast occurred at 6:54 PM at south Mumbai's crowded Zaveri Bazaar and inside many minutes Opera House and Dadar, too, were hit by powerful explosions.
The explosion at Opera House, described by Maharashtra Chief Minister Prithiviraj Chavan as a "high intensity blast", occurred at 6:55 PM and was followed by the one at Dadar (7:05 PM). The blast in Zaveri Bazar occurred at Khao Gali whereas a motorbike was used to trigger the explosion close to the two-storey JK Building at Tata Road No. one in Opera House. The blast at Kabootar Khana in Dadar occurred during a Maruti Esteem automobile. Sources have told CNN-IBN that terror cluster Indian Mujahideen is that the prime suspect within the blasts.
The injured are rushed to JJ Hospital, GT Hospital, KEM Hospital and St George's Hospital. Wednesday blasts occurred simply 2 days when the fifth anniversary of the Mumbai serial train blasts on July eleven, 2006 within which a minimum of 186 individuals were killed. The blasts conjointly evoked horrific recollections of serial blasts within the past as each Dadar and Zaveri Bazar are targeted earlier too. However, Mumbai Police Commissioner Arup Patnaik claimed that he wasn't during a position to mention who distributed the blasts. Patnaik conjointly said that he couldn't say whether or not the arrest of 2 Indian Mujahideen terrorists was in anyway connected with the blast. Two suspected Indian Mujahideen (IM) members Mohammed Mobin Abdul Shakoor Khan alias Irfan (32) and his cousin Ayub Raja Amin Shaikh (28) were arrested by the Maharashtra Anti-Terrorism Squad on July half dozen in Mumbai. According to an eyewitness a hearth that broke out in Zaveri Bazar following the blasts has been brought below management. A Border Security Force plane carrying NSG personnel, forensic specialists and senior NIA officers reached Mumbai from New Delhi.
The explosion at Opera House, described by Maharashtra Chief Minister Prithiviraj Chavan as a "high intensity blast", occurred at 6:55 PM and was followed by the one at Dadar (7:05 PM). The blast in Zaveri Bazar occurred at Khao Gali whereas a motorbike was used to trigger the explosion close to the two-storey JK Building at Tata Road No. one in Opera House. The blast at Kabootar Khana in Dadar occurred during a Maruti Esteem automobile. Sources have told CNN-IBN that terror cluster Indian Mujahideen is that the prime suspect within the blasts.
The injured are rushed to JJ Hospital, GT Hospital, KEM Hospital and St George's Hospital. Wednesday blasts occurred simply 2 days when the fifth anniversary of the Mumbai serial train blasts on July eleven, 2006 within which a minimum of 186 individuals were killed. The blasts conjointly evoked horrific recollections of serial blasts within the past as each Dadar and Zaveri Bazar are targeted earlier too. However, Mumbai Police Commissioner Arup Patnaik claimed that he wasn't during a position to mention who distributed the blasts. Patnaik conjointly said that he couldn't say whether or not the arrest of 2 Indian Mujahideen terrorists was in anyway connected with the blast. Two suspected Indian Mujahideen (IM) members Mohammed Mobin Abdul Shakoor Khan alias Irfan (32) and his cousin Ayub Raja Amin Shaikh (28) were arrested by the Maharashtra Anti-Terrorism Squad on July half dozen in Mumbai. According to an eyewitness a hearth that broke out in Zaveri Bazar following the blasts has been brought below management. A Border Security Force plane carrying NSG personnel, forensic specialists and senior NIA officers reached Mumbai from New Delhi.
Kannur Airport to be operational by 2014
The first Greenfield International Airport developing with personal participation at Kannur in Kerala is predicted to be operational by 2014, a senior minister said these days.The airport can return up at an estimated valueof Rs 1130 crore, with a paid up capital of Rs 500 crore and funds raised through loans Rs 630 crore, Kerala Ports and Excise Minister K Babu said within the Assembly in reply to a submission on the topic.
Orchid Chemicals gets USFDA nod for anti-depression capsule
Drug firm Orchid Chemicals & Pharmaceuticals today said it has received final approval from the US health regulator for its generic Venlafaxine capsules, used in the treatment of depression
Gold hits new highs again
Spot gold hit a record high above USD 1,594 , buoyed by a sharp drop in the dollar after Moody's warned the US may lose its top credit rating, the possibility of more Federal Reserve stimulus and Europe's deepening debt crisis.
TCS is expected to report 5.7% fall in profit after tax
TCS is expected to report 5.7% fall in profit after tax of Rs 2,264 crore in quarter ended June 2011 (QoQ)
PFC plans to disburse loans for Rs 35K cr in FY12
PFC plans to disburse loans for Rs 35K cr in FY12, also in talks with NPCIL for lending Rs 12K cr to setup two nuclear plants (Business Standard)
South Indian Bank results
South Indian Bank reports Q1 net profit at Rs 82.5 cr versus Rs 58.4 cr and NII at Rs 210 cr versus Rs 140 cr
Bajaj Auto reports 20.5% rise in profit after tax of Rs 711 crore for quarter ended June 2011
Bajaj Auto reports 20.5% rise in profit after tax of Rs 711 crore for quarter ended June 2011 YoY
Friday 8 July 2011
Punj Lloyd will withdraw additional financial support to subsidiary Simon Carves
Punj Lloyd will withdraw provision of additional financial support to indirect subsidiary Simon Carves due to prevailing market conditions
JSW Steel will halt expansion of Vijaynagar unit
JSW Steel will halt expansion of Vijaynagar unit until it receives approval for captive iron ore mine in Karnataka
Morgan Stanley downgrades RIL
Morgan Stanley downgrades RIL to equal weight from overweight and removes stock from focus list
Wednesday 6 July 2011
Brent crude rises above USD 114/bbl
Brent crude rises above USD 114/bbl. Barclays raised Brent forecast to USD 115/barrel, a gain of USD 10/barrel.
Raymond is targeting 1,000 plus stores in next 3 years
Raymond is targeting 1,000 plus stores in next 3 years and expects additional revenue of Rs 500 cr from new stores
Muthoot Capital Services approves rights issue
Muthoot Capital Services approves rights issue of 65 lakh shares at Rs 80/share
Tuesday 5 July 2011
Delhi High Court slaps Rs 1 cr fine on Idea Cellular
Delhi High Court slaps Rs 1 cr fine on Idea Cellular on concerns of incorrect information given on Spice merger.
Reliance Power, Aditya Birla Group's Essel Mining and the RPG Group shortlisted for buying a strategic stake in Australian coal mining
Three top Indian companies, including Reliance Power, Aditya Birla Group's Essel Mining and the RPG Group, have been shortlisted for final round discussions to buy a strategic stake in Australian coal mining firm, MetroCoal. The Australian company plans to raise $600-700 million from the sale.
Page Industries entered into licensing agreement with Speedo International
Page Industries has entered into an exclusive licensing agreement with Speedo International for the manufacture and distribution of Speedo brand swim wear, water shorts, apparel, equipment and footwear with effect from July 01, 2011
Rainbow Papers is planning to invest about Rs 700 crore
Rainbow Papers is planning to invest about Rs 700 crore for its expansion plan at its existing Gujarat unit
Varun Industries has discovered 10 mining blocks of heavy mineral sand
Varun Industries has discovered 10 mining blocks of heavy mineral sand (HMS) in Madagascar. The total HMS resource in these blocks is about 266.8 million tons.
Escorts to list verticals Escort Constructions and Railway and auto comp
Escorts plans to list its verticals Escort Constructions and Railway and auto comp biz in future
Indo Asian Fusegear board is going to consider buyback 10%
Indo Asian Fusegear board is going to consider buyback 10% equity: Sources. Buyback price is likely at maximum Rs 125/share
NIIT is in pact with IBM for career education projects
NIIT is in pact with IBM for career education projects
Monday 4 July 2011
Compact Disc Delist at Rs. 75/ Share
Compact Disc will Delist at Rs. 75/ Share so go and buy Compact disc
NHPC plans to raise Rs 2,000 cr
NHPC plans to raise Rs 2,000 cr from the markets in the current fiscal. It could be through term loans or bonds
Sunday 3 July 2011
NTPC to setup Coal Based power project at Kanpur
NTPC to setup Coal Based power project at Kanpur with investment of 6600 crore Rs. With capacity of 1320 MW. Project work will begin from January 2012
Vodafone will pay additional 440 million dollars to bag Essar deal
Vodafone will pay additional 440 million dollars to bag Essar deal, Vodafone buys 67% in Hutch-Essar for 11.2 billion dollars in 2007, Vodafone annouces to buy Essar 33% for 5 billion dollars in March 2011 but that transaction does not include potential tax liabilities.Now in July they revised the pact of separation for deal value 5.46 billion dollars that includes tax liability of 880 Million dollars
Saturday 2 July 2011
Petrol and Diesel rates goes Up by 27 paisa and 15 paisa
Petrol and Diesel rates goes Up by 27 paisa and 15 paisa respectively for increase in commission of petrol pump dealers, Govt. Approved for raising commission paid on Petrol from 1238 Rs/KL To 1499 Rs/KL, on Diesel it hiked from 757 Rs/KL to 912 Rs/KL
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