Stocks to watch - Bharti Airtel, Reliance Communications, Unitech

Bharti Airtel and South Africa's MTN Group are reportedly likely to update the market today, 3 August 2009, on talks aimed at merging their operations.

Net profit of Reliance Communication rose 6.51% to Rs 370.00 crore in the quarter ended June 2009 as against Rs 347.38 crore during the previous quarter ended June 2008. Sales declined 5.36% to Rs 3006.13 crore in the quarter ended June 2009 as against Rs 3176.47 crore during the previous quarter ended June 2008.

Net profit of Unitech declined 52.71% to Rs 142.50 crore in the quarter ended June 2009 as against Rs 301.31 crore during the previous quarter ended June 2008. Sales declined 54.65% to Rs 335.52 crore in the quarter ended June 2009 as against Rs 739.82 crore during the previous quarter ended June 2008.

Seperately, Unitech is reportedly planning a third round of share placements with institutional investors for about Rs 1000 crore. The proceeds will be used for fresh investment.

Tata Consultancy Services (TCS) and Wipro, amongst others, are reportedly in pursuit of an up to Rs 2500 crore outsourcing contract from Indian Railways.

Financial Technologies reportedly proposes to divest 52% in the MCX Stock Exchange by September 2009-end.

Electricity traders Jindal steel and Power and GMR Energy, an unlisted subsidiary of GMR Infrastructure, have reportedly surrendered their trading licences saying a Rs 0.04 cap on their margin imposed by the electricity regulator in 2006 has made the trading business unviable.

Oil and Natural Gas Corporation (ONGC) has for the first time reportedly begun ultra deep-sea drilling off the Kochi coast in Kerala. It proposes to start another drilling operation not far from the location.

Tamil Nadu's environment authority has reportedly permitted Chemplast Sanmar to restart work on a coal-fired power plant in Mettur in southern India, reversing an earlier decision to withdraw its approval.

Net profit of GMR Infrastructure declined 91.50% to Rs 3.56 crore in the quarter ended June 2009 as against Rs 41.89 crore during the previous quarter ended June 2008. Sales declined 68.47% to Rs 17.48 crore in the quarter ended June 2009 as against Rs 55.44 crore during the previous quarter ended June 2008.

Net profit of Reliance Capital declined 68.09% to Rs 104.29 crore in the quarter ended June 2009 as against Rs 326.85 crore during the previous quarter ended June 2008. Sales declined 19.11% to Rs 606.89 crore in the quarter ended June 2009 as against Rs 750.24 crore during the previous quarter ended June 2008.

Net profit of Britannia Industries rose 17.46% to Rs 47.37 crore in the quarter ended June 2009 as against Rs 40.33 crore during the previous quarter ended June 2008. Sales rose 5.46% to Rs 731.24 crore in the quarter ended June 2009 as against Rs 693.36 crore during the previous quarter ended June 2008.

Adlabs Films reported net loss of Rs 66.10 crore in the quarter ended June 2009 as against net profit of Rs 1.15 crore during the previous quarter ended June 2008. Sales declined 72.83% to Rs 49.94 crore in the quarter ended June 2009 as against Rs 183.79 crore during the previous quarter ended June 2008.

Mahanagar Telephone Nigam reported net loss of Rs 46.85 crore in the quarter ended June 2009 as against net profit of Rs 112.54 crore during the previous quarter ended June 2008. Sales declined 16.20% to Rs 937.71 crore in the quarter ended June 2009 as against Rs 1118.94 crore during the previous quarter ended June 2008.

Net profit of Divi's Laboratories declined 94.90% to Rs 4.92 crore in the quarter ended June 2009 as against Rs 96.48 crore during the previous quarter ended June 2008. Sales declined 23.79% to Rs 202.77 crore in the quarter ended June 2009 as against Rs 266.07 crore during the previous quarter ended June 2008.

Net profit of ICSA (India) declined 16.96% to Rs 34.02 crore in the quarter ended June 2009 as against Rs 40.97 crore during the previous quarter ended June 2008. Sales rose 26.58% to Rs 305.69 crore in the quarter ended June 2009 as against Rs 241.50 crore during the previous quarter ended June 2008.

Net profit of TVS Motor Company rose 158.12% to Rs 18.12 crore in the quarter ended June 2009 as against Rs 7.02 crore during the previous quarter ended June 2008. Sales rose 7.09% to Rs 975.62 crore in the quarter ended June 2009 as against Rs 911.07 crore during the previous quarter ended June 2008.

Net profit of McNally Bharat Engineering Company rose 98.28% to Rs 8.07 crore in the quarter ended June 2009 as against Rs 4.07 crore during the previous quarter ended June 2008. Sales rose 123.29% to Rs 269.00 crore in the quarter ended June 2009 as against Rs 120.47 crore during the previous quarter ended June 2008.

Dish TV India reported net loss of Rs 69.20 crore in the quarter ended June 2009 as against net loss of Rs 125.44 crore during the previous quarter ended June 2008. Sales rose 49.76% to Rs 246.29 crore in the quarter ended June 2009 as against Rs 164.46 crore during the previous quarter ended June 2008.