Lupin, India Strategy
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Wednesday, October 19, 2011
Market may open higher on firm Asian stocks; Hero MotoCorp in focus
The market may open higher on firm Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 20 points at the opening bell. Hero MotoCorp may edge higher on good Q2 results. Jindal Steel & Power will also be in focus after reporting 8% growth in net profit in Q2 September 2011. HDFC Bank and Biocon unveil Q2 results today, 19 October 2011.
Key benchmark indices fell for the second straight day to reach one-week closing lows on Tuesday, 18 October 2011, as weakness in global shares caused by disappointment over a quick European rescue plan and poor quarterly result by IT majors TCS and HCL Tech hit sentiments adversely. The BSE Sensex lost 276.80 points or 1.63% to settle at 16,748.29, its lowest closing level since 11 October 2011.
Markets may see a positive opening
Today’s start is expected to be on a positive note on the back of supportive global cues. There are two new listings today — Taksheel Solutions and Flexituff International
Headlines for the day
Sun Pharma to acquire Taro, to pay $367 million for 33.5% stake
GVK acquires 13.5% in MIAL for Rs 1,140 cr
Tata Motors focuses on spreading global footprint
SAT tells Sahara firms to pay Rs 24k cr in six weeks
Govt will ask Rs 14K cr more to recapitalise PSU banks: Bank Secy
Daily News Roundup - Oct 19 2011
The Securities Appellate Tribunal has upheld a regulatory order directing the Sahara group to refund Rs240bn for violating securities laws. (ET)
The government has decided to cut supply of Reliance Industries’ KG-D6 gas to some power plants such as GMR’s Tanir Bavi and Lanco’s Kondapalli units, which sell electricity at market rates, as it wants the scarce, low-cost resource to be used at plants that provide power at steady rates to consumers. (ET)
TDSAT has directed Bharti Airtel to pay 50% of the Rs500mn penalty imposed by the DoT in the matter of alleged violation of licence terms and conditions by the private operator for issuing bulk mobile connections. (ET)
Facing the situation!
It is a good rule to face difficulties at the time they arise and not allow them to increase unacknowledged - Ziegler.
The situation seems better at least at start today. US stocks climbed amid reports that Germany and France have agreed to shore up the eurozone bailout fund. But, another report has denied the same stating that the debate on the size of the EFSF may continue for a while. Consensus view is unlikely anyways.
HCL Tech Q1 net profit surges 50%
Q1FY2012 revenues in USD terms up by 4.1% QoQ to $1002.2 million, which was broadly in line with our expectation of $1004.1 million. The volume growth was at 4% inline with our expectations. On constant currency revenue grew by 5.1% to $1011.8 million.
The consolidated revenues in INR terms were up by 8.2% sequentially to Rs4651.3 crore for Q1FY2012, which is above our estimate of Rs 4588.6 crore.
EBITDA margins were down 140bps at 17.1%, we were expecting 170bps dip QoQ.
The net income was down by 2.7% QoQ to Rs 496.7 crore, ahead of our expectation of Rs 480.6 crore. On YoY basis, net profit up 50%.
IT services revenues grew by 4.5% QoQ to $709.4 million and IMS grew by 4.3% QoQ to $246.3 million.
During the quarter, company has made gross & net employee addition of 9311 and 3474 respectively taking total headcount to 80,520.
Announces an interim dividend of Rs2 per share and special milestone dividend of Rs2 per share.
HCL signed 12 transformational deals this quarter taking the total to 32 transformational deals in the last 2 quarters.
Mindtree surges on Q2 earnings
Standalone
The net profit of the company rose by 132.05% to Rs54.30 crore for the quarter ended September 2011 as against Rs23.40 crore for the previous quarter ended September 2010.
Sales rose by 18.81% to Rs456.70 crore for the quarter ended September 2011 as against Rs384.40 crore for the previous quarter ended September 2010.
The consolidated net profit of the company surged by 58% to Rs54.50 crore on 10.6% growth in revenue to Rs456.70 crore in Q2 September 2011 over Q1 June 2011.
Edelweiss Financial Q2 cons net profit falls 60%
The net profit of Edelweiss Financial Services declined by 60.18% to Rs26.32 crore in the consolidated quarter ended September 2011 as against Rs66.10 crore for the previous quarter ended September 2010.
Sales rose by 1.61% to Rs381.04 crore in the consolidated quarter ended September 2011 as against Rs374.99 crore for the previous quarter ended September 2010.
Indusind Bank Q2 net profit rises 45%
Indusind Bank has announced the following Unaudited results for the quarter ended September 30, 2011
The net profit of the bank jumped by 45.01% to Rs193.09 crore for the quarter ended September 30, 2011 as compared to Rs133.15 crore for the quarter ended September 30, 2010.
Total Income advanced by 51.87% to Rs1563.07 crore for the quarter ended September 30, 2011 to Rs1029.20 crore for the quarter ended September 30, 2010.
CRISIL Q3 cons net profit down 20%
CRISIL has announced the following unaudited results for the quarter ended September 30, 2011:
Standalone results:
The net profit of the company fell by 31.84% to Rs50.98 crore for the quarter ended September 30, 2011 as compared to Rs74.80 crore for the quarter ended September 30, 2010.
The total income increased by 0.19% to Rs183.05 crore for the quarter ended September 30, 2011from Rs182.71 crore for the quarter ended September 30, 2010.
Consolidated results:
The net profit of the group declined by 20.23% to Rs60.18 crore for the quarter ended September 30, 2011 as compared to Rs75.44 crore for the quarter ended September 30, 2010.
The total income surged by 10.95% to Rs225.30 crore for the quarter ended September 30, 2011from Rs203.06 crore for the quarter ended September 30, 2010.
Hero MotoCorp Q2 net profit up 19%
Hero MotoCorp has announced the following results for the quarter ended September 30, 2011:
The net profit of the company jumped by 19.38% to Rs603.62 crore for the quarter ended September 30, 2011 as compared to Rs505.60 crore for the quarter ended September 30, 2010.
Total Income has surged by 27.61% to Rs5909.07 crore for the quarter ended September 30, 2011 Rs4630.30 crore for the quarter ended September 30, 2010.
Coromandel Intl Q2 cons net profit slips 20%
Coromandel International has announced the following results for the quarter ended September 30, 2011:
Standalone Results
The net profit of the company fell by 20.35% to Rs 278.82 crore for the quarter ended September 30, 2011 as compared to Rs350.10 crore for the quarter ended September 30, 2010.
Total Income has advanced by 0.62% to Rs2811.47 crore for the quarter ended September 30, 2011 Rs2793.99 crore for the quarter ended September 30, 2010.
Consolidated Results
The net profit of the company dipped by 19.81% to Rs282.38 crore for the quarter ended September 30, 2011 as compared to Rs352.17 crore for the quarter ended September 30, 2010.
Total Income has jumped by 0.72% to Rs2816.63 crore for the quarter ended September 30, 2011 Rs2796.31 crore for the quarter ended September 30, 2010.
Jindal Steel Q2 cons net profit drops marginally
Jindal Steel & Power has announced the following results for the quarter ended September 30, 2011:
Standalone Results:
The Company has posted a net profit of Rs395.79 crore for the quarter ended September 30, 2011 as compared to Rs478.17 crore for the quarter ended September 30, 2010, registering a decline of 17.22%. Total Income has increased by 44.93% to Rs3341.53 crore for the quarter ended September 30, 2011 from Rs2305.61 crore for the quarter ended September 30, 2010.
Consolidated Results:
The Group has posted a net profit of Rs875.38 crore for the quarter ended September 30, 2011 as compared to Rs881.57 crore for the quarter ended September 30, 2010, posting a fall of 0.70%. Total Income rose by 44.15% to Rs4448.47 crore for the quarter ended September 30, 2011 from Rs3085.83 crore for the quarter ended September 30, 2010.
Subscribe to:
Posts (Atom)