Investors may exit SBI on weak results

On a consolidated basis, State Bank of India's net profit fell 22.52% to Rs Rs 2363.95 crore on 14.57% increase in total income to Rs Rs 37925.44 crore in Q2 September 2010 over Q2 September 2009. State Bank of Indore merged with State Bank of India with effect from 26 August 2010. Hence, the results for the quarter ended 30 September 2010 is not comparable with the corresponding period of the previous year.



Hindalco Industries, Tata Motors, Apollo Hospital, BL Kashyap, Brigade Enterprise, Chetinad Cements, Divis Laboratories, Financial Technologies, GMR Infrastructure, Garware Offshore, Geodesic, ICRA, Indo Rama Synthetic, Jindal Drilling, Opto Circuits (India), Panacea Biotec, UB Holdings and Varun Shipping among others will declare June-September 2010 results today, 9 November 2010.

Hindalco Industries said 8,000 metric tons of cathode production may be lost at its copper plant in Gujarat because a cooling tower broke down.

Indian Oil Corporation will raise gasoline prices by Rs 0.32 to Rs 52.91 a liter in New Delhi starting 9 November 2010.

Power Finance Corporation reportedly started marketing Rs 150 crore of 10-year bonds with a coupon of 8.78%.

Steel Authority of India (Sail) has reportedly initiated talks with Indian Railways to enter the business of track laying and renewal.

Infotel Broadband Services, a unit of Reliance Industries, is reportedly in negotiations to borrow an additional $1.5 billion for expenditure on rollout of operations and buying equipment.

GlaxoSmithKline Consumer Healthcare is reportedly set to raise prices of its two key brands - Horlicks and Boost - by 6% this month.

Nava Bharat Ventures is reportedly shelving its Indonesian coal mine and thermal power projects after it failed to get a forest clearance and a tariff approval.

Net profit of Infrastructure Development Finance Company (IDFC) rose 22.30% to Rs 306.65 crore on 23.95% rise in income from operations to Rs 1093.91 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Eicher Motors rose 12.08% to Rs 8.44 crore on 11.74% rise in net sales to Rs 110.12 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Venky's India rose 69.36% to Rs 14.26 crore on 25.84% rise in net sales to Rs 204.05 crore in the quarter ended September 2010 over the quarter ended September 2009.