Surge in Q2 earnings may catapult Tata Motors

On a consolidated basis, net profit of Tata Motors surged 10106.6% to Rs 2,222.99 crore on 36.8% rise in net sales to Rs 28,572.71 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Hindalco Industries rose 26.09% to Rs 433.81 crore on 18.66% rise in net sales to Rs 5802.76 crore in the quarter ended September 2010 over the quarter ended September 2009.



Net profit of United Breweries Holdings rose 19.01% to Rs 10.77 crore on 12.99% decline in net sales to Rs 88.40 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of B.L.Kashyap & Sons rose 13.68% to Rs 10.22 crore on 29.43% rise in net sales to Rs 310.69 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Financial Technologies India declined 61.21% to Rs 84.65 crore on 29.34% rise in net sales to Rs 103.78 crore in the quarter ended September 2010 over the quarter ended September 2009. The company had a net extraordinary income of Rs 19.20 crore in the quarter ended September 2010 and Rs 239.71 crore during the previous quarter ended September 2009.

Net profit of Divi's Laboratories declined 15.59% to Rs 72.96 crore on 13.65% rise in net sales to Rs 253.30 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Jindal Drilling & Industries rose 7.88% to Rs 22.19 crore on 18.13% decline in net sales to Rs 275.62 crore in the quarter ended September 2010 over the quarter ended September 2009.

Net profit of Garware Offshore Services rose 6.34% to Rs 9.56 crore on 6.44% decline in net sales to Rs 41.56 crore in the quarter ended September 2010 over the quarter ended September 2009.

Bharti Airtel, BPCL, Britannia Industries, DLF, Great Offshore, Gujarat Industries, Nagarjuna Construction Company, Power Finance Corporation, Alphageo India, C&C Construction, Eros International, Hanung Toys, Kesoram Industries, Maytas Infra, Noida Toll bridge, Nitesh Estates, Provogue India, Ruchi Soya and Sonata Software among others will declare June-September 2010 quarter results today, 10 November 2010.

Real estate developer Brigade Enterprises' board has approved the joint development agreement for 21 acres of land in Chennai, expected to generate revenues of Rs 550 crore. The firm is also proposing to launch 25 projects of about 9 million square feet in the next 12 months and, it said, it was in the process of winning lease deals for 0.5 million sqaure feet of office space in Bangalore.

Edserv Softsystems' board will meet today, 10 November 2010 to consider raising funds through issue of shares, warrant or convertible debentures on a preferential basis.

Tata Global Beverages is reportedly planning to raise $200 million from private equity investors by selling a stake in its U.K. unit Tetley.

Oil and Natural Gas Corporation (ONGC), the 30% owner in the Rajasthan oil block, has held back $500 million payment to Cairn India for operating the block alleging the expenditure had been inflated.

IVRCL Assets and Holdings may reportedly sell up to 49% stake in three of its road projects to garner funds for future projects and raise Rs 600 crore via qualified institutional placement.

The Central Board of Excise and Customs has reportedly issued show cause notices to Kingfisher Airlines and unlisted firm Citibank NA for not paying service tax related to their sponsorship of the Indian Premier League.

Future Capital Holdings is reportedly in talks with its partner Centrum Capital to unwind their two joint venture projects in retail foreign exchange services and retail broking and financial products distribution.

Aditya Birla Nuvo may reportedly bid for the carbon black division of Germany's Evonik Industries that has annual sales of $1.3 billion.