Friday, February 10, 2012
HPCL Q3 net profit jumps by 13-fold HPCL Q3 net profit jumps by 13-fold HPCL Q3 net profit jumps by 13-fold
Hindustan Petroleum Corporation Ltd has announced the following results for the quarter ended December 31, 2011:
The unaudited results for the quarter ended December 31, 2011
The net profit of the company jumped by 1191.37% (13 times) to Rs2725.18 crore for the quarter ended December 31, 2011 as compared to Rs211.03 crore for the quarter ended December 31, 2010.
The total income of the company increased by 40.95% to Rs48204.97 crore for the quarter ended December 31, 2011 from Rs34200.88 crore for the quarter ended December 31, 2010.
Maruti Suzuki India said it has crossed the 10mn units milestone of cumulative sales in the domestic market since it started selling cars 29 years back. (ET)
Eyeing a turnover of Rs7bn in the next five years, NourishCo, a joint venture between Tata Global Beverages and PepsiCo India, said it will expand its product portfolio of healthy products rapidly. (ET)
Mahindra Satyam has decided to pick up a little over 15% in Dion Global Solution for an undisclosed amount, marking a milestone for the outsourcer with a chequered past. (ET)
Two major Gulf carriers, Etihad Airways and Qatar Airways said they have no interest in buying stake in struggling Kingfisher Airlines, which is grappling with a pile of debt and on the hunt for fresh equity. (ET)
It was another splendid late comeback by the Indian market with the NSE Nifty surging past 5400 and the BSE Sensex scoring a century. Both the key indices finished near the day's high, thanks to the spurt witnessed in the last half an hour. The Nifty has crossed 5400 for the first time since early August. The late recovery was led by Metals, Realty, Banking and Auto stocks. Despite the late upsurge the Large-Cap indices under-performed their broader peers. There was no real catalyst for today's advance as results continued to be mixed. So, it appears to be the continuation of the liquidity-driven 'risk on' rally.
Traders overlooked the ongoing concerns about Greece's ability to avert the eurozone's maiden debt default. In Asia, the sentiment was affected by China's higher-than-expected inflation in January, though seasonal factor played a role in it. The Nikkei index in Japan and the Hang Seng index in Hong Kong were marginally down. European markets were trading with modest gains before the policy announcements from the Bank of England and the ECB. Market players will also focus on the euro area finance chiefs' meet where Greece issue will be on top of the agenda.
"The serenity of mind, gentleness, silence, self-restraint, and the purity of mind are called the austerity of thought." - Bhagavad Gita.
After a lot of wrangling, Greek political parties have reached a deal on new austerity measures necessary to secure international aid and avert a default. But, the Greek parliament needs to ratify the economic reforms. The news was confirmed by ECB President Mario Draghi, who left interest rates unchanged. Investors will continue to keep close tabs on events out of the euro area (Greece in particular).
The Bank of England kept rates steady but expanded the size of its QE program. The US labour market conditions continue to improve ever so slightly.