HCL Technologies in spotlight after Q1 results

On a consolidated basis, HCL Technologies' net profit rose 16.3% to Rs 1210 crore on 8.1% increase in revenues to Rs 6944 crore in Q4 June 2013 over Q3 March 2013.

"FY'13 results have demonstrated significant business momentum, non- linearity and record customer satisfaction. HCL continues to excel in agility and innovation with a Business Model that is resilient in a dynamic environment," said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

"An exceptional growth of 22% during the Financial Year has propelled HCL's Revenue past the INR 25000 crore milestone. HCL continues to lead the industry in profitable growth, with seven successive quarters of Net Income Margin expansion, having reported 62% growth in Net Income this year. We have consolidated our leadership position in the Infrastructure Management Services and verticals like Financial Service and Lifesciences & Healthcare," said Anant Gupta, President & CEO, HCL Technologies.

"Backed by another strong quarter, we closed our Financial Year on a positive note. Our Net Income margin expanded by 400 bps and touched a five year high of 16%. Our Return on Equity for the year has been 34% which is amongst the best in the industry. EBITDA to Free Cash Flow conversion has been at a healthy 68%," said Anil Chanana, CFO, HCL Technologies.

Jindal Steel & Power's (JSPL) consolidated net profit rose 28.27% to Rs 494.28 crore on 2.65% decline in total income to Rs 4593.55 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Tuesday, 30 July 2013.

JSPL's board of directors at a meeting held on Tuesday, 30 July 2013, inter alia, has authorized sub-committee of board of directors of the company to examine a buy-back of shares from the existing shareholders of the company and to seek or cause to be sought requisite clarifications, consents and approvals (including without limitation, from the lenders to the company), and to accordingly provide their recommendations in this regard to the board of directors for further consideration and evaluation and for taking such formal decision or action as the board of directors may deem fit, pursuant to applicable laws, market conditions and other relevant considerations.

IT stocks will be watched after the rupee weakened sharply below the psychological 60 per dollar mark on Tuesday, 30 July 2013. The currency settled at 60.49 per dollar, down 1.76% from the previous close of 59.42. A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lion's share of revenue from exports.

Shares of public sector oil marketing companies (PSU OMCs) will also be in the spotlight as the falling rupee increases costs of importing oil. PSU OMCs import about 70-75% of their crude oil needs and rely heavily on foreign currency borrowings, which largely remain unhedged.

Indian Oil Corporation (IOC) will be in focus on media reports that the cabinet is likely to consider the proposal for sale of 10% of government's stake in IOC today, 31 July 2013.

Marico said its shareholders approved the proposed scheme of arrangement between the company and Marico Kaya Enterprises. The shareholders also approved the utilization of Securities Premium Account of Marico in order to adjust the difference, being the excess of book value of assets over the book value of liabilities of the Kaya Business of Marico being demerged into Marico Kaya Enterprises. A special resolution was duly passed approving the same.

Andhra Bank, Bharti Airtel, Chambal Fertilisers & Chemicals, HCL Technologies, ICICI Bank, Jagran Prakashan, JSW Steel, Karnataka Bank, NHPC, Petron Engineering Construction, Piramal Life Sciences, Religare Enterprises and Tata Investment Corporation will unveil April-June 2013 results on Wednesday, 31 July 2013.

Petronet LNG's net profit declined 16.81% to Rs 225.32 crore on 19.87% growth in total income to Rs 8459.44 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Tuesday, 30 July 2013.

IFCI's net profit fell 41.12% to Rs 55.11 crore on 15.76% decline in total income to Rs 561.53 crore in Q1 June 2013 over Q1 June 2012. The result was announced after market hours on Tuesday, 30 July 2013.

NTPC's board of directors at a meeting held on Tuesday, 30 July 2013, accorded the investment approval for Feroze Gandhi Unchahar Thermal Power Project (1x500 MW) to be implemented in Uttar Pradesh at an appraised current estimated cost of Rs 3363.12 crore.

State-run National Fertilizers will be watched as the Government of India (GoI) announced its plan to sell approximately 7.64% of the total paid-up equity share capital in the state-run company through an offer for sale (OFS) of 3.74 crore equity shares of face value of Rs 10 each of the company. The OFS would take place on a separate window of Stock Exchanges today, 31 July 2013, from 9:15 IST to 15:30 IST. The floor price for the OFS has been fixed as Rs 27 per share. The GoI currently holds 97.64% stake in National Fertilizers. On successful completion of OFS, the GoI's stake in the company would come down to 90% thereby adhering to Sebi's minimum public shareholding rule of 10% in public firms by 8 August 2013.

Grasim Industries turns ex-dividend today, 31 July 2013, for dividend of Rs 22.50 per share for the year ended 31 March 2013 (FY 2013).

Nestle India turns ex-dividend today, 31 July 2013, for interim dividend of Rs 18 per share for the year ending 31 December 2013.

Speciality Restaurants turns ex-dividend today, 31 July 2013, for dividend of Re 1 per share for the year ended 31 March 2013 (FY 2013).