Stock Alerts - May 29 2012

On a consolidated basis, Coal India's net profit fell 4.91% to Rs 4013.41 crore on 31.91% growth in total income to Rs 21746.94 crore in Q4 March 2012 over Q4 March 2011. Net profit jumped 36.07% Rs 14788.20 crore on 26.95% growth total income to Rs 69952.33 crore in the year ended March 2012 over the year ended March 2011. Net profit of Engineers India rose 15% to Rs 190.34 crore on 29.5% increase in net sales to Rs 1225.31 crore in Q4 March 2012 over Q4 March 2011. The company's board has recommended a final dividend of Rs 4 per share for the financial year ended March 2012. On a consolidated basis, net profit of Fortis Healthcare jumped 41.34% to Rs 41.54 crore on 206.12% surge in total income to Rs 1,388.57 crore in Q4 March 2012 over Q4 March 2011. Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India will announce their FY 2012 results today, 29 May 2012. Sun Pharmaceuticals Industries will announces its Q4 March 2012 results today, 29 May 2012. Steel Authority of India (Sail) has signed a 50:50 joint venture agreement with Burn Standard Company (BSCL) at Kolkata for setting up a Wagon Components Manufacturing Facility at the premises of BSCL at Jellingham, Purba Medinipore district, in West Bengal, with a capacity to produce 10,000 bogies and 10,000 couplers per annum. The estimated capital outlay for the project is about Rs 200 crore. Welspun Corp, a large diameter pipe manufacturer, said it has received orders worth Rs 2070 crore from international and domestic markets. "Welspun Corp has won pipes and plates orders worth Rs 2,070 crore from international and domestic market. With the addition of these orders, the current order book of the company stands at Rs 7,447 crore," the company said in a statement. Over and above Welspun has internal plate orders valued at Rs 311 crore, it said. NMDC net profit declined 21.74% to Rs 1642.28 crore in the quarter ended March 2012 as against Rs 2098.62 crore during the previous quarter ended March 2011. Sales declined 31.20% to Rs 2593.65 crore in the quarter ended March 2012 as against Rs 3769.75 crore during the previous quarter ended March 2011. Mcleod Russel India reported net loss to Rs 157.39 crore in the quarter ended March 2012 as against net loss of Rs 122.94 crore during the previous quarter ended March 2011. Sales rose 13.62% to Rs 252.55 crore in the quarter ended March 2012 as against Rs 222.27 crore during the previous quarter ended March 2011. 3M India net profit declined 23.07% to Rs 21.77 crore in the quarter ended March 2012 as against Rs 28.30 crore during the previous quarter ended March 2011. Sales rose 25.12% to Rs 395.74 crore in the quarter ended March 2012 as against Rs 316.29 crore during the previous quarter ended March 2011. DCM net profit rose 310.44% to Rs 18.47 crore in the quarter ended March 2012 as against Rs 4.50 crore during the previous quarter ended March 2011. Sales rose 1.45% to Rs 73.42 crore in the quarter ended March 2012 as against Rs 72.37 crore during the previous quarter ended March 2011. Trent net profit rose 116.52% to Rs 19.53 crore in the quarter ended March 2012 as against Rs 9.02 crore during the previous quarter ended March 2011. Sales rose 20.98% to Rs 183.02 crore in the quarter ended March 2012 as against Rs 151.28 crore during the previous quarter ended March 2011. Indoco Remedies net profit rose 3.04% to Rs 12.53 crore in the quarter ended March 2012 as against Rs 12.16 crore during the previous quarter ended March 2011. Sales rose 22.60% to Rs 147.66 crore in the quarter ended March 2012 as against Rs 120.44 crore during the previous quarter ended March 2011. Fertilizers & Chemicals Travancore reported net profit to Rs 38.24 crore in the quarter ended March 2012 as against net loss of Rs 35.24 crore during the previous quarter ended March 2011. Sales rose 19.73% to Rs 802.89 crore in the quarter ended March 2012 as against Rs 670.58 crore during the previous quarter ended March 201

Market may edge higher in early trade

The market may edge higher in early trade tracking mostly higher Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 10 points at the opening bell. The market may remain volatile this week as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire on Thursday, 31 May 2012 Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India announce FY 2012 results today, 29 May 2012. Sun Pharmaceuticals Industries announces Q4 results today, 29 May 2012. Coal India announced after market hours on Monday that consolidated net profit fell 4.91% to Rs 4013.41 crore on 31.91% growth in total income to Rs 21746.94 crore in Q4 March 2012 over Q4 March 2011. Net profit jumped 36.07% Rs 14788.20 crore on 26.95% growth total income to Rs 69952.33 crore in the year ended March 2012 over the year ended March 2011.

Markets may rise at start

Tracking gains in the Asian stocks, the Indian markets are likely to open on a positive note. SGX Nifty is trading 9.50 points higher. Events for the day: Earnings in focus today - Apollo Hospitals Enterprise, Aurobindo Pharma, Ipca Laboratories, Power Grid Corporation of India, Welspun Corp, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, Steel Authority of India, United Spirits, GMR Infrastructure, Tata Motors, Sun Pharmaceutical Industries, Lanco Infratech, EIH, Hindustan Copper. Headlines for the day: OIL in talks to buy 51% stake in Reliance Gas Transportation. RCom awaits for spectrum guidelines to sell tower biz. Rupee fall won't hurt India's ratings: Moody's. Airtel rating unaffected by Qualcomm deal: Fitch. Hotel Leela promoter firm pledges 18.56% stake with SBI, BOB.

Daily News Roundup - May 29 2012

Fortis Healthcare hived off its non-core business and related assets into a separate company to be listed as a business trust on the Singapore exchange to raise around Rs20bn. (ET) Teva will not launch atorvastatin, the generic version of Lipitor, a move that will help Ranbaxy and DRL garner larger sales in the US. (ET) India’s competition watchdog has approved Reliance Industries acquisition of stakes in Raghav Bahl’s media companies Network 18 and TV18 Broadcast. (ET) Jindal Steel & Power has entered into an agreement with Gujarat NRE Coking Coal, an Australian subsidiary of Gujarat NRE Coke, to pick up a 10% strategic stake in the company. (ET)

Sensex surges as Banks gallop, rupee climbs

After rising on a weekly basis after a long time, the Indian stock markets ended with healthy gains on the first day of the new trading week. The NSE Nifty came close to the 5000 mark, surging ~70 points in intraday trade. On the other hand, the BSE Sensex jumped by ~200 points, ending above the 16,400 mark. The BSE Sensex ended at 16,417, gaining by 1.2% or 199 points. It had earlier touched a day’s high of 16,440 and a day’s low of 16,273. It opened at 16,289. The NSE Nifty settled at 4986, up by 65 points or 1.3%. It touched a day’s low of 4,931 and day’s high of 4,995. SBI, BHEL, Tata Power, PNB, Sesa Goa, Axis Bank, Tata Motors, Bank of Baroda, Power Grid Corporation, Hindalco Industries, M&M, ICICI Bank, NTPC, Sterlite Industries and HDFC Bank were among the notable leaders on the Sensex and the Nifty. GAIL, BPCL, Maruti Suzuki and ONGC were the notable losers on both the indexes. The INDIA VIX on the NSE fell by 6% to close at 23.68. It hit days high of 25.40. It hit a low of 23.59.

Drizzling gains!

Danger and delight grow on one stalk. – Proverb. The slight drizzle seems to remind one that monsoons are getting closer and hopefully will be normal. In fact, we’ve had a rather pleasant start to the week, with the main indices spurting on a mild recovery in the global risk appetite. The Rupee too gained from a global bounce. The euro rose after Greece's pro-austerity party topped polls ahead of June elections, raising hopes that the debt-strapped nation will stick to budget cuts and stay in the euro bloc. However, the European markets erased all the gains amid growing concern about Spain’s shaky banking sector. Shares of Bankia sank 28% in Madrid after news that the Spanish government will inject €19bn into the troubled lender. Markets in the US were closed for the Memorial Day holiday. All eyes will be on the latest US monthly jobs report on Friday. Final PMI data for the Chinese manufacturing sector will also be on investors’ radar.