Neyveli Lignite Q1 PAT up at Rs 343 cr

Neyveli Lignite has declared its first quarter results. The company's Q1 net profit was up at Rs 343 crore versus Rs 342 crore.

Its net sales were up at Rs 1,156 crore versus Rs 1,145.4 crore.

Source: www.moneycontrol.com

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Syndicate Bank Q1 cons PAT up at Rs 343 cr

Syndicate Bank has declared its first quarter results. The company's Q1 consolidated net profit was up at Rs 343 crore versus Rs 266 crore.

Its consolidated net interest income (NII) was up at Rs 1,110 crore versus Rs 964 crore.

Source: www.moneycontrol.com

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ICICI Bank Q1 net profit up 30% at Rs 1,332 cr

India's largest private sector lender ICICI Bank has reported a sharp jump of 30% (YoY) in profit for first quarter of FY12. During the period, net profit of the bank increased to Rs 1,332 crore against Rs 1,026 crore in the corresponding quarter of last fiscal.

Net interest income went up over 21% to Rs 2,411 crore from Rs 1,991 crore year-on-year.

Non-performing assets (NPAs) at gross as well as net level declined to 4.36% from 5.14% and 1.04% from 1.87% year-on-year, respectively.

ICICI Bank has made less provisions in the April-June quarter as compared to same quarter of last fiscal - provisions declined over 43% to Rs 454 crore from Rs 798 crore.

Consolidated net profit shot up nearly 53% (YoY) to Rs 1,666 crore from Rs 1,091 crore.

CASA ratio in the quarter ended June 2011 was 41.9% against 45.1% in the previous quarter.

Advances went up 20% (YoY) while saving deposits climbed 18% (YoY).

Net interest margin of the bank declined to 2.6% in April-June quarter against 2.7% in the previous quarter.

Source: www.moneycontrol.com

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JSPL Q1 PAT down 3% at Rs 933 cr

Jindal Steel & Power (JSPL) has announced its first quarter results. The company's Q1 sales were up 31% at Rs 3940 crore versus Rs 2998 crore. year-on-year, YoY.

Its EBIDA was up 4% at Rs 1622 crore versus Rs 1562 crore.

The company's EBITDA margins was at 41.2% versus 52.11%.

The company's PAT was down 3% at Rs 933 crore versus Rs 957 crore, YoY.

Its consolidated net profit was down 2% at Rs 919 crore versus Rs 942 crore.

Source: www.moneycontrol.com

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Bajaj Finserv Q1 PAT up 95% at Rs 129 c

Bajaj Finserv has announced its first quarter results. The company's Q1FY12 total gross revenues were up 5% at Rs 2900 crore versus Rs 2759 crore.

Its PAT was up 95% at Rs 129 crore versus Rs 66 crore.

The company's EPS was at Rs 8.9 versus Rs 4.5.

Source: www.moneycontrol.com

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Atul Q1 net profit up at Rs 18.5 cr

Atul has announced its first quarter results. The company's Q1 net profit was up at Rs 18.5 crore versus Rs 20 crore.

Its net sales were up at Rs 407 crore versus Rs 326 crore.

Source: www.moneycontrol.com

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CESC Q1 PAT up at Rs 111 cr

CESC has announced its first quarter results. The company's Q1 net profit was up at Rs 111 crore versus Rs 110 crore.

Its net sales were up at Rs 1,169 crore versus Rs 1,082 crore.

Source: www.moneycontrol.com

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Idea Cellular Q1 down 36% at Rs 177 cr

Idea Cellular has announced its first quarter results. The company's Q1 consolidated net profit was down 35.52% at Rs 177 crore versus Rs 274.5 crore, quarter-on-quarter, QoQ.

Its consolidated net sales were up at Rs 4,516 crroe versus Rs 4,198.7 crore, QoQ.

Source: www.moneycontrol.com

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Indian Bank Q1 PAT up at Rs 407 cr

Indian Bank has declared its first quarter results. The company's Q1 net profit was up at Rs 407 crore versus Rs 368 crore.

Its net interest income (NI) was up at Rs 1,030 crore versus Rs 926 crore.

Source: www.moneycontrol.com

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Dena Bank Q1 PAT up at Rs 168 cr

Dena Bank has announced its first quarter results. The company's Q1 net profit was up at Rs 168 crore versus Rs 138.8 crore, year-on-year, YoY.

Its NII was up at Rs 446.5 crore versus Rs 360.5 crore, YoY.

Source: www.moneycontrol.com

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Orchid Chemicals Q1 net falls on high finance charges

Orchid Chemicals & Pharmaceuticals’ first quarter net profit fell 28% year-on-year to Rs 15.54 crore due to higher interest and finance charges and increased expenses.

During the April-June quarter, Orchid Chemicals’ net sales were up 23% from a year ago to Rs 373.76 crore.

The company’s interest and finance charges increased 35% in the three-month period to Rs 30.74 crore. There was also pressure from higher expenses, which rose 19% to Rs 331.92 crore.

Orchid Chemicals’ first quarter EBITDA (earnings before interest taxes, depreciation and amortization) were up 9% to Rs 85.90 crore, it said Friday.

On a consolidated basis, Orchid Chemicals’ net profit for the first quarter fell 28% year-on-year to Rs 16.92 crore. Consolidated turnover for the quarter increased 23% to Rs 449.23 crore.

Orchid Chemicals said it has 43 ANDA (abbreviated new drug applications) filings with the US FDA (Food and Drugs Administration). As of the end of first quarter, it had 21 final approvals for its ANDAs it had filed.

Orchid Chemicals' shares were trading down 1.9% at Rs 218.20 on NSE in morning trade.

Source: www.moneycontrol.com

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ONGC Q1 rises 12%, boosted by higher subsidy payments

State-run ONGC has reported a sharp rise of 12% for its June quarter at Rs 4,095 crore Y-o-Y as higher subsidy payments offset gains from a rise in crude oil and gas prices. Sales also grew at same pace of 12% at Rs 16,208 Y-o-Y.

AK Hazarika, chairman and managing director, ONGC while attributing the quarterly performance to reduced subsidy burden said, “ We paid around Rs 12,046 crore towards subsidies to state-owned refiners as subsidy sharing has returned to 33%.” This amount is over 50% lower then what it paid in Q4 FY11 as it shared 39% of the losses incurred by retailers selling diesel, domestic LPG and kerosene.


Meanwhile, the company said during the quarter it saw a gross realisation of $ 121.29- a massive improvement compared to $80.80 a barrel Y-o-Y. But net realisation in the same quarter stood at $48.76 a barrel - a very small jump over $48.04 a barrel

On standalone basis, production of crude oil stood at 5.93 metric tonnes and natural gas production was at 5.61 billion cubic meters.
ONGC said it has made 2 discoveries in North Assam and Western Onshore in the first quarter.

Shares in the company, closed 0.3% higher at Rs 277.20 ahead of the announcement. The stock has declined nearly 14% so far in 2011, compared with an 11.2% fall in the main stock index


Source: www.moneycontrol.com

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ACC Q2 cons PAT seen down 6% at Rs 328 cr

ACC has declared its second quarter results. The company's Q2 consolidated net sales were up 17.17% at Rs 2,539 crore versus Rs 2,166.8 crore, year-on-year, YoY.

Its consolidated net profit was down 6% at Rs 328.1 crore versus Rs 349.5 crore, YoY.

Source: www.moneycontrol.com

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Titan Industries Q1 PAT up 77% at Rs 143 cr

Titan Industries has announced its first quarter results. The company's Q1 net profit was up 76.54% at Rs 143 crore versus Rs 81 crore.

Its net sales were up 61.21% at Rs 2,020 crore versus Rs 1,253 crore.

Source: www.moneycontrol.com

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Corporation Bank Q1 net profit up 5% at Rs 351 cr

State-owned Corporation Bank’s first quarter net profit rose marginally by 5% year-on-year to Rs 351 crore on the back of slower growth in net interest income that increased just 8% to Rs 707 crore.

“The higher cost of funds actually impacted our profit margins,” said Ramnath Pradeep, chairman and managing director, Corporation Bank.

“However, we will try to maintain our current net NIM in FY12. After RBI’s latest rate hike, there is every possibility that lending rates would rise. We have not yet taken any decision on hiking lending rates. Our asset liability committee will meet soon on this.”

Net interest margin (NIM) contracted from 2.48% to 2.10% quarter-on-quarter. Total deposits of the bank reported 29% y-o-y growth to Rs 1,17,782 crore, indicating that the lender have paid higher cost for term deposits.
Total loans grew 22% to Rs 78,904 crore. The bank aims to grow its loan book at 25% in FY12 to reach Rs 1,09,000 crore, focusing on SME and retail loans.

The bank’s overall asset quality has decreased. Its gross non-performing assets (NPAs) increased from 0.91% to 1.07% quarter-on-quarter. Net NPAs inched up from 0.46% to 0.52%.

Source: www.moneycontrol.com

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IFCI Q1 net profit up at Rs 132 cr

IFCI has announced its first quarter results. The company's Q1 net profit was up at Rs 132 crore versus Rs 118 crore.

Its income from operations was up at Rs 602 crore versus Rs 494 crore.

Source: www.moneycontrol.com

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MRF Q2 net profit down at Rs 32 cr

MRF has announced its second quarter results. The company's Q2 net profit was down at Rs 32 crore versus Rs 62 crore.

Its net sales were up at Rs 2,570 crore versus Rs 1,924 crore.

Source: www.moneycontrol.com

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Welspun Corp Q1 PAT down at Rs 119 cr

Welspun Corp has announced its first quarter results. The company's Q1 net profit was down at Rs 119 crore versus Rs 190 crore.

Its net sales were down at Rs 1,746 crore versus Rs 2,422 crore.

Source: www.moneycontrol.com

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Arvind Q1 cons PAT up at Rs 61 cr

Arvind has announced its first quarter results. The company's Q1 consolidated net profit was up at Rs 61 crore versus Rs 22 crore.

Its consolidated net sales were up at Rs 1,180 crore versus Rs 839 crore.

Its standalone net profit was up at Rs 66.3 crore versus Rs 19 crore, year-on-year, YoY.

Its standalone net sales were up at Rs 800.3 crore versus Rs 569.6 crore, YoY.

Source: www.moneycontrol.com

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IOB Q1 net profit up at Rs 206 cr

Indian Overseas Bank (IOB) has reported a marginal rise in its first quarter of FY12 net profit to Rs 206 crore against Rs 200 crore in the corresponding quarter of last fiscal.

However, net interest income jumped over 31% to Rs 1,188 crore from Rs 906 crore year-on-year.

Source: www.moneycontrol.com

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Ambuja's Q2 net down 11%, slow demand plays a spoilsport

Ambuja Cement has reported a fall of 11% at Rs 348 in its second quarter CY11 net profit, as subdued demand and higher coal prices played a spoilsport during the quarter

However, net sales increased 6% to Rs 2,173 crore from Rs 2,048 crore Year-on-Year. These numbers are slightly ahead of CNBC-TV18 poll saw net profit at Rs 365 crore and net sales of Rs 2165 crore.

EBITDA margin too declined to 27.5% versus 31.4% Y-o-Y. Meanwhile shares of the cement major declined 2% at 128.70 at 13.30 hours.

Key highlights during the quarter

Cement production declines 6% at 5.20 million tones

Sales volume came down 2.4% at 5 million tones

Input cost went up by atleast 20%


Analysts are not surprised by these numbers as Ambuja has sharply under-performed by declining 12% on the broader market over the past three months. And this is because investors are increasingly nervous on the outlook for this sector, given a rapidly rising cost structure. Further, the onset of monsoon, there is typically a slackening in demand from infrastructure industry.

The two key input costs for the cement industry, namely power and fuel, coupled with freight charges have seen an upward trend, on a per-tonne basis. In the case of power and fuel costs, cement companies have been grappling with a near 30% rise in coal prices, for supplies from Coal India, since end February, say analysts. Also, imported coal prices are up nearly 20% y-o-y in the quarter under review.

Source: www.moneycontrol.com

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GNFC Q1 net profit at Rs 42 cr

Gujarat Narmada Valley Fertilizers Company (GNFC) has reported a net profit of Rs 42 crore in the April-June quarter of 2011 against net loss of Rs 23 crore in the corresponding quarter of last fiscal year.

Net sales in the first quarter was Rs 644 crore, a huge rise of 75% compared to Rs 368 crore in the year ago period.

Source: www.moneycontrol.com

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Andhra Bank Q1 net profit up 20.6% at Rs 386 cr

Andhra Bank has reported better performance in the first quarter of FY12 than expected by the street. Net profit jumped 20.6% to Rs 386 crore in Q1 against Rs 320 crore in the corresponding quarter of last fiscal year.

Net interest income went up nearly 24% to Rs 911 crore from Rs 736 crore year-on-year.

However, provisions in the April-June quarter was Rs 177 crore, a 240% rise over Rs 52 crore in the year ago period.

CNBC-TV18 poll saw a net profit of Rs 298 crore and net interest income of Rs 841 crore.


Source: www.moneycontrol.com

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ITC Q1 beats estimates, net up 24% at Rs 1,330 crore

Cigarettes to hotels major ITC beat analysts’ expectations as first quarter net profit rose 24.5% year-on-year to Rs 1,332.72 crore, on the back of sales growth across segments.


Net sales for the three-month period were up nearly 20% to Rs 5,767.47 crore.

Analysts on average had expected ITC’s net profit at Rs 1,271 crore on revenue of Rs 5,504 crore, according to CNBC-TV18 poll.

Despite the strong earnings growth profit margin during the quarter remained flat at 33.7% versus 33.8% in the year ago quarter.

Its total expenses during the first quarter were up 20% to Rs 4,050.54 crore.

ITC’s cigarette sales, which account for majority of the revenue, were up almost 16% year-on-year to Rs 2,873.56 crore. Sales from other FMCG business, which includes foods and personal care, rose 20% to Rs 1,197.76 crore.

Its revenue from hotels business was up 10% from a year ago to Rs 230.46 crore. Agri business revenue rose 26% to Rs 1,707.14 crore. Paperboards, paper and packaging sales were up 21% to Rs 959.57 crore.

Profits grew in most segments, while it reduced losses in the non-cigarette (other) FMCG business by 14.5% year-on-year to Rs 76.28 crore.

ITC shares rose post the better than expected results announcement and were traded up 2% at Rs 204.95 on NSE in afternoon trade.

Source: www.moneycontrol.com

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Head Dealer
DENIP consultants Pvt Ltd

What's your dividend yield?

What's your dividend yield?

The dividend yield represents your income as a percentage of the investment. This is similar to the interest earned on money deposited in a bank. This figure will help you compare the returns on your investments.

If you purchase 1,000 shares of a company when the stock price is Rs. 20, your total investment would be Rs. 20,000.

If the company declares a dividend of 15% (on a face value of Rs 10), you would get Rs 1.50 per share. The dividend yield is calculated by the following formula:

Dividend yield (Rs 1.50)/Share price (Rs 20)x100 = Dividend Yield (7.5%)

In other words, the stock is paying you 7.5% on your investment by way of dividend every year.

If another company also paid Rs 1.50 per share, but its stock price was Rs 30, the dividend yield would come down to 5%. This is because you would have to invest Rs 30,000 to buy 1,000 shares that would earn you a dividend of Rs 1,500.

If the price of the shares you bought at Rs 20 each comes down to Rs 15 and the company maintains the dividend payout at 15% , the dividend yield would shoot up to 10%.

DATES TO REMEMBER

• Dividend declaration date: The date on which the board of directors announces the dividend to be paid to shareholders.
• Record date: Cut-off date for eligibility for the dividend. You should be holding the shares in your account to be eligible.
• Ex-dividend date: The date when the shares is traded minus the dividend. If you buy on or after this date, you don't get it.
• Dividend payable date: When the company mails dividend cheques or transfers money to the shareholders' accounts.

Source: www.wealth.economictimes.com

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What you should know before investing for dividends

DIVIDENDS ARE NOT GUARANTEED

Unlike the interest income from a bond or fixed deposit, dividend income is not certain. Like mutual funds, a company is not under any obligation to pay dividends or sustain the payout ratio. It is entirely at the discretion of the board of directors of a company to declare a dividend.

CHECK THE FACE VALUE OF A SHARE

The percentage of dividend declared by a company is based on the face value of a share. If the face value is Rs. 10, a 20% dividend would imply a payout of Rs 2 per share. If the stock has split and the face value is only Rs. 2, a 60% dividend would translate into a payout of Rs 1.20 per share.

TRACK PAYOUT RECORD

Don't buy only on the basis of the current high yield dividend. The company could have earned an extraordinary income and is, therefore, giving out a one-time high dividend. Check the dividend record for the past 4-5 years as well as the quantum of the payout.

EXAMINE CASH FLOW

One way to ascertain if the company can sustain its dividend payout is to look at the cash flow. Pay close attention to the cash flow in its balance sheets for the past 4-5 years. After accounting for capital expenditure, the amount left is the cash flow available to the company to buy back shares or pay dividends. The bigger the free cash flow, the greater the probability of dividends.

DIVERSIFY TO BE SAFE

If you depend on dividend income, don't keep all your eggs in the same basket. Diversify across a portfolio of 8-10 stocks. In this way, even if one or two companies don't pay dividends in a year, you would have income from 7-8 stocks. It's best to have sectoral diversification too even if this means settling for a lower dividend yield.

KEEP IN MIND CHANGES IN TAX TREATMENT

Right now, the income from dividends received from companies and mutual funds is tax free. However, the new Direct Taxes Code, which is expected to come into effect from 1 April 2012, has proposed a 15% tax on dividend income. Unlike in mutual funds, where the investor can opt for the growth option to avoid paying tax on dividends, stock investors cannot avoid this income or the tax on it.

DIVIDEND YIELD FUNDS

These are diversified equity funds that focus exclusively on dividend yield stocks. Not surprisingly, dividend yield funds have been out-performers in the past few years. They have given an average return of 24.5% in the past three years compared with 17-20 % by diversified equity funds. These funds offer investors all the benefits of dividend investing except for a regular income. For that, an investor will have to either opt for a dividend option or setup a systematic withdrawal plan.

Source: www.wealth. economictimes.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

EIL Q1 net profit up at Rs 148 cr

EIL has declared its first quarter results. The company's Q1 net profit was up at Rs 148 crore versus Rs 115 crore.

Its income was up at Rs 853 crore versus Rs 606 crore.

Source: www.moneycontrol.com

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Head Dealer
DENIP consultants Pvt Ltd

Delta Corp Q1 cons PAT up 200% at Rs 12cr YoY

Delta Corp has reported a sharp rise of 200% in its first quarter FY12 net profit. During the period, consolidated profit after tax of the company increased to Rs 12 crore against Rs 4 crore in the year ago period.

Net sales jumped to Rs 91 crore from Rs 32 crore year-on-year.

Revenue out of real estate business has gone up by 20 times to Rs 63 crore versus Rs 3 crore whereas hospitality and gaming division revenues went up to Rs 28 crore from Rs 22 crore in the year ago period.

However, EBITDA margin declined to 35.2% versus 43.6% year-on-year.

Source: www.moneycontrol.com

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Head Dealer
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Manappuram Finance Q1 net profit up 134% at Rs 108 cr

Manappuram Finance has reported a sharp rise of 134% (YoY) in its first quarter FY12 net profit. During the period, net profit of the company shot up to Rs 108 crore against Rs 46.2 crore in same quarter the last fiscal year.

Net sales too jumped 165% to Rs 493 crore from Rs 186 crore year-on-year.

Source: www.moneycontrol.com

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Karur Vysya Bank Q1 net profit up at Rs 117 cr

Karur Vysya Bank has announced its first quarter results. The company's Q1 net profit was up at Rs 117 crore versus Rs 84.5 crore, year-on-year, YoY.

Its net interest income was at Rs 205 crore.

Source: www.moneycontrol.com

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Strides Arcolab Q1 cons net profit at Rs 69 cr

Strides Arcolab has announced its first quarter results. The company's Q1 consolidated net profit was at Rs 69 crore.

Its consolidated net sales were up at Rs 581 crore versus Rs 454 crore.

Source: www.moneycontrol.com

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Head Dealer
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BGR Energy Q1 net profit down 17% at Rs 50.3 cr

BGR Energy has reported a fall of 17% (YoY) in its first quarter FY12 net profit. During the period, net profit of the company declined to Rs 50.3 crore against Rs 60.5 crore in the corresponding quarter last fiscal.

Net sales too fell 19% to Rs 731.2 crore from Rs 905.4 crore year-on-year.

Source: www.moneycontrol.com

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Head Dealer
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UCO Bank Q1 net profit up 12% at Rs 292 cr

UCO Bank has reported a rise of over 12% in its first quarter FY12 net profit. During the period, net profit of the company increased to Rs 292 crore from Rs 260 crore in the corresponding quarter last fiscal year.

However, net interest income declined 14% to Rs 808 crore from Rs 937 crore year-on-year.


Source: www.moneycontrol.com

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Head Dealer
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Oil India Q1 net profit up 70% at Rs 850 cr

Oil India has announced its first quarter results. The company's Q1 net profit was up 69.66% at Rs 850 crore versus Rs 501.1 crore, year-on-year, YoY.

Its net sales were up 45.36% Rs 2,288 crore versus Rs 1,574.2 crore, YoY.

Its other income was up 25.20% at Rs 303 crore versus Rs 242 crore, YoY.

Source: www.moneycontrol.com

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Head Dealer
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Canara Bank Q1 net profit down 28% at Rs 726 cr

State-run Canara Bank has reported a sharp fall of over 28% in its first quarter FY12 net profit. During the period, net profit of the bank slipped to Rs 726 crore from Rs 1,013.4 crore in the year ago period.

However, net interest income increased nearly 4% to Rs 1,793 crore from Rs 1,728 crore year-on-year.

Gross non-performing asset (NPA) of the bank went up to 1.67% in the April-June quarter against 1.46% in the corresponding quarter last fiscal.

Net NPAs too moved up sharply to 1.34% from 1% in the year ago period.


Source: www.moneycontrol.com

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Head Dealer
DENIP consultants Pvt Ltd

IDFC Q1 cons net profit down 6% at Rs 314 cr

Infrastructure financing company IDFC has reported a decline of more than 6% (YoY) in its first quarter FY12 net profit. During the period, consolidated net profit of the company slipped to Rs 314 crore from Rs 335 crore in same quarter the previous year.

Consolidated income from operations jumped nearly 24% to Rs 1,351 crore from Rs 1,091 crore year-on-year.

Source: www.moneycontrol.com

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Head Dealer
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UltraTech Cement Q1 profit declines 6% on lower volumes

UltraTech Cement, an Aditya Birla Group company has posted a 6% decline in its profits for the June quarter at Rs 683 crore Q-o-Q, mainly on the back of poor pricing power and lower volume growth. Sales of the company dipped 3% at Rs 4,365 crore. The results are little ahead of CNBC-TV18 poll which saw sales at Rs 4,225 and PAT at Rs 509 crore.

UltraTech in a statement said the quarter was adversely impacted by the 30% increase in the domestic coal price in March. Alongside, imported coal price rose by 30% Y-o-Y resulting in a substantial escalation in costs.

The cement major in a filing to the Bombay Stock Exchange (BSE) said, “The surplus scenario is likely to continue over the next 2 to 3 years resulting in the selling prices remaining under pressure. With commodity prices rising, input costs will be affected, which will squeeze margins.”

Shares of the company surged 1.58% at Rs 1,016 on the BSE post the announcement of the results. But there could be little reason for investors to cheer as analyst have their concerns for the company and cement industry as a whole, going forward.

“Rise in power and fuel cost Q-o-Q may hamper margins. Even dispatch figures are likely to come down as infrastructure activities are at a standstill,” said an analyst.

Despite cost pressures continue to haunt the cement industry in general; there are some positives at UltraTech to look forward to. The company has lined up a capex outloay of over Rs 11,000 crore for next three years which includes brownfield expansion at Chhattisgarh and Karnataka.


Source: www.moneycontrol.com

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Head Dealer
DENIP consultants Pvt Ltd

Lupin Q1 net profit up 7% at Rs 210 cr

Pharmaceutical company Lupin has reported a rise of more than 7% in its first quarter FY12 net profit. During the period, consolidated net profit of the company increased to Rs 210 crore from Rs 196 crore in the corresponding quarter previous fiscal.

Net sales jumped 17% to Rs 1,543 crore from Rs 1,320 crore year-on-year.


Source: www.moneycontrol.com

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Bank of Baroda Q1 net profit up 20% at Rs 1,033 cr

State-run Bank of Baroda has reported a rise of over 20% (YoY) in its first quarter FY12 net profit. During the period, net profit of the company increased to Rs 1,033 crore against Rs 859.2 crore in the corresponding quarter last fiscal.

Net interest income too jumped nearly 24% to Rs 2,298 crore from Rs 1,858 crore year-on-year.

Bottomline was in-line with estimates while topline was below expectations. CNBC-TV18 poll saw NII at Rs 2436 crore and PAT at Rs 1029.5 crore.

Other income increased to Rs 641 crore from Rs 617 crore year-on-year.

Provisions increased significantly by 56% to Rs 391 crore in the April-Jun quarter from Rs 251 crore in same quarter the previous year. Provision coverage ratio of the bank stood at 83%.

Gross non-performing asset (NPA) of the bank increased to 1.46% from 1.41% in the year ago period. Even net NPAs went up to 0.44% from 0.39% year-on-year.

While addressing press conference post results, MD Mallya, CMD of Bank of Baroda said deposits were up 21% while advances shot up 24% in the first quarter of FY12.

Net interest margin declined on quarter-on-quarter to 3.39% versus 3.7% in the previous quarter. Cost to income ratio of the bank was 38.11%.


Source: www.moneycontrol.com

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Head Dealer
DENIP consultants Pvt Ltd

HCL Tech Q4 beats street, net up 51.7% YoY at Rs 510 crore

HCL Technologies beat analysts’ expectations as net profit for the fourth quarter rose 51.7% year-on-year to Rs 510 crore. On a sequential basis the net profit was up 9%.


The mid-tier software services provider’s revenue for the three-month period, was however, marginally lower than analysts expectation at Rs 4,300 crore, up 27.5% year-on-year and 3.9% sequentially.

Analysts on average had expected HCL Tech to report fourth quarter net profit of Rs 495 crore on revenue of Rs 4,320 crore, according to CNBC-TV18 poll.

HCL Tech’s EBIT (earnings before interest and taxes) rose 28.7% from a year ago to Rs 665 crore. The company’s EBIT margin was at 15.5% in April-June, compared with 15.3% in the year ago quarter, while EBITDA margin was 18.5% versus 18.6%.

"Over the last few years HCL Technologies has been investing in creating new capabilities and markets which have given a new face and shape to the company. Additionally our focus on diversity and localizing footprints have tremendously increased our competitiveness in the global IT space," said Shiv Nadar, chairman.

HCL Tech said it net added 3,626 employees, taking its headcount to 77,046 employees. The company signed 20 deals during the quarter across verticals including manufacturing, media, telecom, retail, BFSI (banking and financial services), hi-tech and healthcare, it said.

For the full year 2010-11 (July-June), HCL Tech’s net profit was up 30.9% year-on-year to Rs 1,709 crore, and revenue rose 27.4% to Rs 16,034 crore.

HCL Tech said all geographies reported growth during the year with Americas at 23.5%, Europe at 28.9% and rest of the world at 69%.

HCL Technologies shares were trading down 1.8% at Rs 506 on NSE in morning trade.


Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP consultants Pvt Ltd

Cairn India Q1 FY12 PAT up 869% YoY at Rs 2726.6 crore

Profit after tax of Cairn India has surged by a whopping 869% (YoY) at Rs 2726.6 crore in the quarter ended June 30, 2011. During the period, its revenue stood at Rs 3712.7 crore up 342% (YoY).


According to CNBC-TV18 estimates, it was seen to post a jump of nearly 10% (QoQ) in its first quarter FY12 profit after tax to Rs 2,700 crore against Rs 2,457.8 crore in the previous quarter.

Sales are seen going up 9.7% (QoQ) to Rs 4,010 crore from Rs 3,654.5 crore quarter-on-quarter. On year-on-year basis, it was seen to report growth of 3.8 times in sales and 8.6 times jump in PAT.

Rahul Dhir, MD and CEO of the company said, “Cairn India's focus on safe and efficient operations ensured delivery of more than 50 million barrels of crude oil to Indian refineries. The Mangala reservoir continues to perform as per expectations and production has been maintained at 125,000 barrels of oil per day. “

Quick snapshot of the quarter results

Revenue of INR 37,127 million (USD 830 million), up 342% YoY

Profit after Tax (PAT) of INR 27,266 million (USD 610 million), up 869% YoY

Cash Flow from Operations of INR 25,755 million (USD 576 million), up 423% YoY

Net cash of INR 45,869 million (USD 1,025 million) as on 30 June, 2011

Gross cumulative Rajasthan development capital expenditure at USD 3,115 million as on 30 June, 2011, of which USD 120 million was spent during the quarter

Average Daily Sales (Working Interest) at 99,200 barrels of oil equivalent (boe) Average Daily Gross operated production at 171,801 boe (Working Interest production at 99,640 boe), contributing more than 20% of India’s current domestic crude production.

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP consultants Pvt Ltd

Core Projects & Technologies - Dewang K Mehta

Dear All,

Another stock which catches our attention is Core Projects and Technologies. This stock has been creating a rising/ascending triangle formation since 2009 which is denoted by the black lines. Although the break out from this pattern is yet to occur, if you look at the black highlights which are clearly the support zones for this stock, it would be prudent to buy this stock at the current 299 level.

Buy in small parts around the 299  - 275 level for a target of 317/330 over the next 6 months. I think that this stock has been creating a decent formation technically and if someone has a one year to two year time horizon this stock could possibly break out and reach very high targets.

I would like to buy it in parts right now for targets closer to 317. The potential breakout for this chart would happen above 350 levels but no harm in tracing it from now; could be one of the dark horses over the coming years.

Thanks,

Dewang K Mehta

DENIP Consultants

Disclaimer Post Applies

Godrej Industries - 6Month Buy - Dewang K Mehta

Dear All,

In our previous post on Godrej Industries (http://denipconsultants.blogspot.com/2011/07/godrej-industries-6month-buy-dewang-k.html), we asked fellow investors to book out profits in Godrej industries on the 7^th of July 2011 around 222 levels. We advise you’ll to re-enter this stock below 207 levels for a test of 231 levels again. We also believe that the target of 250 is still intact.

If we are to consider yesterday’s close of 211, we have saved at least 11Rs or close to 5% in this month alone. I would ideally want to buy it around the 205 levels but I am not too sure if it will fall to those levels. Below 210 is a good entry for this stock but patience is a must.

Thanks,

Dewang K Mehta

DENIP Consultants 

Disclaimer Post Applies

Reliance Industries Limited - Dewang K Mehta

Dear All,

According to me, if there is one stock that impacts the Nifty single handedly then it would be Reliance Industries Limited. This stock has been in a large trading range which can be broadly stated from 850 to 1250 since the start of 2009.

Stocks that stay range bound for such a long time are best traded by the book wherein you buy in parts at supports and sell in parts at the resistance levels. So looking at this range ideally buying should start below 910 levels till 800 and selling should start above 1000 levels going till 1100.

We have highlighted the support and resistances zones in this chart too with black and red highlights respectively. With the S&P CNX Nifty placed in its support zone and with Reliance Industries too entering the lower band of its support with a close around 827 I believe that this stock should soon begin to impact the movement of the Nifty.

As mentioned earlier the prudent bet is to go long Reliance at 827 with a stop of 794 and a target of 958 for starters. However I would be ultra-careful while buying this stock because usually when a stock breaks such a large consolidating / trading range the up or the down moves are too heavy, too fast and too high. So even if you do decide to invest, buy in small quantities with the willingness to average it below 700 levels.

Following is the post to our S&P CNX Nifty view: http://denipconsultants.blogspot.com/2011/07/s-cnx-nifty-still-bearish-dewang-k.html

Thanks,

Dewang K Mehta

DENIP Consultants 

Disclaimer Post Applies 

S&P CNX Nifty - Still Bearish - Dewang K Mehta

Dear All,

This week the S&P CNX Nifty closed at 5482 which according to the charts is a very crucial level for it. A close below 5480 will definitely see us testing the 5200ish zone on the Nifty which takes it lower by at least another 3%.

What we have done is to go back to the basics of technical analysis which talks about supports and resistances. We have highlighted the resistances in red color from where the Nifty has fallen every time and the supports in black which are the zones where Nifty witnesses buying and bounces back.

So according to our reading of the charts we are very crucially poised and if you play by the book then it’s prudent to buy the Nifty at 5480+ levels and keep a stop loss of 5446 both being spot figures. However for traders who love going short we would advocate a weekly close below 5450 to go ahead and short the Nifty.

We began July with the Nifty at 5700+ when we had emailed and blogged about being cautiously bearish and we still continue to hold a bearish view on the market. However we are not ruling out a ultra quick up move to 5650 if buying does come in.

Our previous posts on the Nifty:

1. April 2011 - http://denipconsultants.blogspot.com/2011/04/nifty-view-denip-consultants-dewang-k.html
2. June 2011 - http://denipconsultants.blogspot.com/2011/06/nifty-view-denip-consultants-dewang-k.html
3. July 2011 - http://denipconsultants.blogspot.com/2011/07/s-cnx-nifty-cautiously-bearish-dewang-k.html

Clearly the above posts show how we have been bearish on the Nifty since 5900 and continue to maintain our view.

Thanks,

Dewang K Mehta

DENIP Consultants

Disclaimer Post Applies

Nagarjuna Fertilisers Q1 net profit down at Rs 26.8 cr

Nagarjuna Fertilisers has reported a net profit of Rs 26.8 crore in the first quarter of FY12 against Rs 27.1 crore in the year ago period.

Net sales increased to Rs 380 crore from Rs 330 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

SUBSCRIPTION FIGURE FOR L&T Finance Holdings Limited IPO as on 28th July 2011 @ 1.00 PM

L&T Finance Holdings Limited IPO

Category Over Subscription

QIB 0.64

HNI 0.40

RET 1.02

EMP 0.05

SHR 0.31

Total 0.67

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Fmp Details (As on 28/7/2011)

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

SBIMF SDFS 90 Days - 48

SBIMF launches 90 Days Fixed Maturity Plan, "SDFS 90 Days -48",which will be open for subscription till 02nd August 2011. The key features are as under:

SDFS – 90 Days – 48

NFO: 29th July 2011 to 02nd August 2011
Min. Investment: Rs. 5000
Exit Load: N.A
Allotment Date: 03rd August 2011
Maturity Date: 31st October 2011

(Cheque to be drawn in f/o: “SBIMF – SDFS -90 Days –48”)

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

ASBA Banks for L and T Finance IPO

Kindly find below list of ASBA Banks(Mumbai City),

We will accept ASBA Forms at our JMFS branches only for those investors having bank account which below banks mentioned.



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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Great Offshore Q1 profit up at Rs 54.9 cr

Great Offshore has declared its first quarter results. The company's Q1 net profit was up at Rs 54.9 crore versus Rs 26.7 crore, year-on-year, YoY.

Its income from operations was down at Rs 219 crore versus Rs 236 crore, YoY.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Merck Q2 PAT down at Rs 17.6 cr

Merck has annouced its second quarter results. The company's Q2 net profit was down at Rs 17.6 crore versus Rs 18.46 crore.

Its net sales were up at Rs 152 crore versus Rs 121 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Alstom Projects Q1 PAT down 93% at Rs 6.3 cr

Alstom Projects has announced its first quarter results. The company's Q1 net sales were down at Rs 279.6 crore versus Rs 777.1 crore.

Its net profit was down 93% at Rs 6.3 crore versus Rs 84.5 crore.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Opto Circuits Q1 cons net profit up at Rs 116 cr

Opto Circuits has declared its first quarter results. The company's Q1 consolidated net profit was up at Rs 116 crore versus Rs 83.1 crore.

Its consolidated net sales were up at Rs 521 crore versus Rs 292 crore.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

MRPL Q1 net profit up 507% at Rs 173 cr (YoY)

MRPL has announced its first quarter results. The company's Q1 net profit was up 507%at Rs 173 crore versus Rs 28.5 crore, year-on-year, YoY.

Its net sales were up 70% at Rs 13,369 crore versus Rs 7,877 crore, YoY.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

TTML Q1 net loss at Rs 119 cr

Tata Teleservices (Maharashtra) TTML, has announced its first quarter results. The company's Q1 net loss was at Rs 119 crore versus profit of Rs 558 crore, year-on-year, YoY.

Its net sales were up 6% at Rs 585 crore versus Rs 552 crore, YoY.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

DCM Shriram Consolidated Q1 cons net profit at Rs 26 cr

DCM Shriram Consolidated showed a significant improvement in the first quarter FY12 by reporting consolidated net profit of Rs 26 crore against loss of Rs 9.4 crore in the corresponding quarter last fiscal.

Consolidated net sales increased to Rs 1,215 crore from Rs 1,015 crore year-on-year.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

JSW Steel Q1 PAT up 64%, boosted by higher sales

JSW Steel has reported a jump of 64% growth in its April-June quarter profit at Rs 405, on the back of strong steel demand and higher prices. Going forward, growing concerns about cost pressures and falling prices could cloud earnings, say analysts.

Net sales shot up 54% to Rs 7,432 crore from Rs 4,818 crore year-on-year. CNBC-TV18 poll saw net profit at Rs 410 crore and net sales at Rs 6,800 crore ahead of the result announcement.

Seshagiri Rao, joint managing director and group CFO said, “We saw a significant volume growth, both in crude steel and rolled flat products and even rolled long products during the quarter.” Rao indicated that going forward global recovery from its international operations continues to be fragile in the shadow of Eurozone crisis, US unemployment, Japan restructuring and China slowdown.

Rao added that the company expected to produce 8.75 million tonnes of steel in FY12, compared to 6.42 million tonnss last year. He also said the company's sales target for this year was 9 million tonnes, compared with 6 million tons Y-o-Y.

The company reported a decline in its EBITDA margin to 19.3% versus 22.4% year-on-year on the back of high input cost. Meanwhile shares of the company surged 0.13% to close the day at Rs 870.35 on the Bombay Stock Exchange post the result announcement.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Asian Paints Q1 cons net profit up 19% at Rs 264 cr

Asian Paints has reported a rise of nearly 19% (YoY) in its first quarter FY12 net profit. During the period, the company's consolidated net profit increased to Rs 264 crore against Rs 222 crore in same quarter the previous year.

Consolidated net sales jumped 23.5% to Rs 2,260 crore from Rs 1,830 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Pidilite Industries Q1 cons net profit at Rs 105 cr

Pidilite Industries has reported a consolidated net profit of Rs 105 crore in the April-June quarter of 2011 against Rs 104 crore in the corresponding quarter previous year.

Consolidated net sales jumped over 21% to Rs 845 crore from Rs 698 crore year-on-year.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Vakrangee Software Q1 net profit up at Rs 14.2 cr

Vakrangee Software has reported a marginal rise (QoQ) in its first quarter FY12 net profit. Company's net profit increased to Rs 14.2 crore against Rs 14 crore in the previous quarter.

Income from operations went down to Rs 247 crore from Rs 270 crore quarter-on-quarter.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Shoppers Stop swings to Q1 consol loss as expenses surge

Department store operator Shoppers Stop swung to a consolidated net loss of Rs 1.52 crore in the first quarter, compared with a net profit of Rs 9.29 crore in the year ago quarter due to a sharp rise in total expenses.

Its consolidated total income for the April-June quarter was up 67% year-on-year to Rs 593.31 crore.

Shoppers Stop shares tumbled following the disappointing earnings announcement on Tuesday and closed down 4.7% at Rs 445.60 on NSE.

Shoppers Stop operates stores across formats, which includes department store Shoppers Stop, book store Crossword, Hypercity hypermarkets and maternity and infant wear stores Mothercare among others.

During the first quarter, the company’s consolidated expenses soared 75% from a year ago to Rs 592.74 crore. During the three-month period, its expenses towards purchase of traded goods jumped 92% from a year ago to Rs 429.07 crore, and employee costs were up 89% to Rs 46.95 crore.

Its interest and finance costs also rose to Rs 8 crore from Rs 4.91 crore in April-June.

On a standalone basis, Shoppers Stop’s first quarter net profit was up 16.6% year-on-year to Rs 11.7 crore and total income was up 144% to Rs 393.02 crore.

During the first quarter, the company opened 3 Shoppers Stop outlets, 3 Crossword stores, 3 M.A.C stores and 1 Hypercity and Home Stop outlet.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Alembic Q1 cons net profit up 140% at Rs 27.6 cr

Alembic has reported a jump of 140% in its first quarter FY12 net profit to Rs 27.6 crore against Rs 11.5 crore in the corresponding quarter last fiscal.

Consolidated net sales shot up 22.5% to Rs 343 crore from Rs 280 crore year-on-year.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Alembic Q1 cons net profit up 140% at Rs 27.6 cr

Alembic has reported a jump of 140% in its first quarter FY12 net profit to Rs 27.6 crore against Rs 11.5 crore in the corresponding quarter last fiscal.

Consolidated net sales shot up 22.5% to Rs 343 crore from Rs 280 crore year-on-year.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Glenmark Q1 cons net profit up 23.5% at Rs 210 cr

Glenmark Pharma has reported a rise of 23.5% (YoY) in its first quarter FY12 net profit. During the period, consolidated net profit increased to Rs 210 crore against Rs 170 crore in the corresponding quarter last fiscal year.

Consolidated net sales jumped over 27% to Rs 868 crore from Rs 682 crore year-on-year. Out-licensing revenue in the same period stood at Rs 111 crore.

Company reported decline in EBITDA margin in the April-June quarter to 31.4% versus 32% Q1FY11.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

BHEL Q1 net profit up 22% at Rs 815 cr

State-run BHEL has reported a jump of 22% (YoY) in its first quarter FY12 net profit. In the April-June quarter, company's net profit increased to Rs 815 crore against Rs 667.7 crore in same quarter the previous fiscal year.

Net sales were up 10% to Rs 7,190 crore from Rs 6,479.7 crore year-on-year.

CNBC-TV18 poll saw net sales of Rs 7,954.36 crore and net profit of Rs 857.90 crore.
Raw material cost in the first quarter increased 16% to Rs 4,581 crore while employee costs fell 3% to Rs 1301 crore year-on-year.

Depreciation cost jumped quite sharply by 35% (YoY) to Rs 171 crore. Other income went up to Rs 249 crore from Rs 163 crore during the same period.

Segment performance

Revenues from power division rose 7% to Rs 5,780 crore while EBIT was down 11% to Rs 952 crore.
Industry revenues went up 12% to Rs 1,653 crore and EBIT shot up 1.19 times to Rs 373crore.

There was a complete lull in the order inflow during the quarter. Order book at the end of Q1FY12 stood at Rs 1,59,600 crore against Rs 1,64,100 crore at the end of Q4FY12.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Zee News Q1 cons PAT down 71% at Rs 2 cr

Zee News has announced its first quarter results. The company's Q1FY12 consolidated income from operations was down 16% at Rs 64 crore versus Rs 76 crore, quarter-on-quarter, QoQ.

Its PAT was down 71% at Rs 2 crore versus Rs 7 crore.

Its EBITDA was down 43% at Rs 8 crore versus Rs 14 crore.

Its EBITDA margin was down at 12.5% versus 18.4%.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Peninsula Land Q1 PAT at Rs 50 cr

Peninsula Land has announced its first quarter results. The company's Q1FY12 net sales were down 28% at Rs 106 crore versus Rs 148 crore.

Its PAT unchanged at Rs 50 crore.

Its EBITDA margin was at 51% versus 24%.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Dhanlaxmi Bank Q1 PAT down 43% at Rs 3.4 cr

Dhanlaxmi Bank has announced its first quarter results. The company's Q1FY12 net interest income was up 33% at Rs 64 crore versus Rs 48 crore.

Its other income was up 77% at Rs 55 crore versus Rs 31 crore.

The company's PAT was down 43% at Rs 3.4 crore versus Rs 6 crore.

Its provisions and contingencies were up at Rs 10 crore versus Rs 2 crore.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Novartis India Q1 PAT up 19% at Rs 38 cr

Novartis India has announced its first quarter results. The company's Q1FY12 net sales were up 12% at Rs 188 crore versus Rs 168 crore.

Its PAT was up 19% at Rs 38 crore versus Rs 32 crore.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Shriram Transport Fin Q1 net profit up 20% at Rs 347 cr

Shriram Transport Finance has reported a rise of 20% (YoY) in its first quarter FY12 net profit. Net profit increased to Rs 347 crore against Rs 289 crore in the corresponding quarter last fiscal.

Income from operations stood at Rs 1,390 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Union Bank Jun '11 profit at Rs 4,915.72 crore

Union Bank of India has reported its results for the quarter ended Jun '11.
Interest earned for the quarter was Rs 4,915.72 crore and net profit was Rs 464.42 crore.

For the quarter ended Jun 2010 the interest earned was Rs 3685.67 crore and net profit was Rs 601.42 crore.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Bank Of India Q1 PAT down 29% at Rs 517 cr

Continuous rate hikes and high inflation have played a spoilt-sport with the earnings of the banking sector. It has particularly been hard on public sector banks.

State-owned lender Bank of India's (BoI) first quarter net profit fell 29% year-on-year at Rs 517 crore on the back of rising cost of funds and higher provisioning norms. The net interest income (NII) rose nearly 6% at Rs 1,841 crore. Other income too increased by 12% at Rs 660 crore.

"The higher cost of funds and increase in NPAs actually dented our profit margins," said Aloke K Misra, CMD, Bank of India speaking at a conference.

"While the cost of deposits rose from 4.79% to 6.01% during quarter, the rise in NPAs led us to make additional provisions. Sensing slower pace of economic growth, we have revised our credit growth to 20% from 22% in March quarter. Similarly, deposit growth target is now pegged at 17% as against 20% earlier."

The net interest margin (NIM) contracted sequentially to 2.19% as against 2.94% in March quarter. The bank's global advances (domestic plus international) grew 21.55% y-o-y to Rs 2,14,936 crore. Domestic deposits increased 22.38% to Rs 2,45,581 crore while the overseas deposits soared 44% y-o-y to Rs 47,511 crore.

"In the coming quarters, we will bring down exposure in bulk deposits but step up share of retail deposits. We expect to increase our CASA ratio to 34% in FY12. Moreover, we would attain an NIM of around 2.50% in FY12," Misra added.
The current account and savings account or CASA ratio improved from 29% to 30.48% quarter-on -quarter basis.

Meanwhile, the bank has shown signs of stress on asset quality front during the quarter. Its net non-performing assets increased sequentially by 36 basis points to 1.27% while gross NPAs were up at 2.69% against 2.23% in the March quarter.
"This is largely due to conversion to system generated NPA system. Most of the NPAs are from agriculture sector. In the next quarter, there would be some further stress as we will implement 100% system generation in NPAs by September, " Misra told Moneycontrol.com. So far, the bank has implemented 90%.

The bank’s provisions were up 47% at Rs 567 crore as against Rs 386 crore a year back. Similarly, operating expenses including employee costs and others were at Rs 1,105 crore versus Rs 916 crore in June quarter, last year due to pension liability.
"A sum of Rs 110.61 crore has been charged to the profit and loss account during the period on proportionate basis towards additional liability of Rs 2,212.15 crore on account of reopening of pension option," said a release issued by the bank.

The provisioning coverage ratio stood at 66.76% versus 70% mandated by the RBI.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Tata Elxsi Q1 cons PAT down 38% at Rs 5 cr

Tata Elxsi has declared its first quarter results. The company's Q1FY12 consolidated net sales were up 28% at Rs 118 crore versus Rs 92 crore.

Its PAT was down 38% at Rs 5 crore versus Rs 8 crore.

Its total expenditure was up 33% at Rs 110 crore versus Rs 83 crore.

Its EBITDA was up 7% at Rs 29 crore versus Rs 27 crore.

The company's EBITDA margin was down at 25% versus 29%.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Sasken Comm Q1 PAT down 52% at Rs 11 cr

Sasken Communication has announced its first quarter FY12 results. The company's Q1FY12 consolidated net sales were down 11% at Rs 130 crore versus Rs 146 crore, YoY.

Its PAT was down 52% at Rs 11 crore versus Rs 23 crore.

Its total expenditure down 6.3% at Rs 119 crore versus Rs 127 crore.

Its EBITDA was down 45% at Rs 16 crore versus Rs 29 crore.

Its EBITDA margin was down at 12.3% versus 19.9%.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Higher refining margins save the day for Reliance Inds

Crude turned out to be a double-edged sword for Reliance Industries during the April-June quarter. Robust refining margins—which are directly co-related to crude oil prices—helped the company meet analyst expectations on the bottomline. At the same time, it also pushed up raw material costs, resulting in operating profit margins getting squeezed. Revenues from the exploration & production business fell sharply, and margin pressures in the petrochemical segment offset much of the gains from higher volume sales and price hikes.

Reliance Industries’ first quarter net profit rose 17% year-on-year, to Rs 5661 crore. This was marginally ahead of a CNBC-TV18 poll projecting the bottomline at Rs 5625 crore. Net turnover for the quarter rose 39% to Rs 81,018 crore, better than the poll estimate of Rs 78,000 crore. But net operating margins declined to 11.9% from 15.3%, because of a 40% jump in raw material costs.

“Our cash flows give us the unparalleled opportunity to allocate capital to higher-margin resource plays in leading markets around the world. We remain committed towards investing in India and have commenced the investment program in the petrochemical business,” chairman and managing director Mukesh Ambani said in the earnings release.

OIL AND GAS (exploration and production):

Segment revenue:Rs 3894 crore, down 16.5% y-o-y
Earning before interest and taxes: Rs 1473 crore, down 23.3% y-o-y
“Lower production from KG-D6 and PMT(Panna-Mukta Tapti) blocks resulted in lower oil & gas revenue and partly offset by higher crude oil price realization. EBIT margins remains flat as compared to trailing quarter but were lower on a year-on-year basis due to lower oil and gas production,” the company said, adding “production from KG-D6was 1.41 million barrels of crude oil and 156.2 BCF of natural gas, reduction of 41% and 18% respectively as compared to 1Q FY11.”

REFINING AND MARKETING

Segment revenue: Rs 73,689 crore, up 46% y-o-y
Segment EBIT: Rs 3199 crore, up 57.2% y-o-y
“RIL’s gross refining margin (GRM) for quarter was at $ 10.3 /bbl as against $ 7.3/bbl in the corresponding period of the previous year. Singapore complex refining margin averaged at $ 8.5/bbl for 1Q FY12 which is double of the level in 1Q FY11. RIL processed 17.0 million tonnes of crude and achieved its highest ever average utilization of 110%. Average utilization rates for refineries globally during the same period were 83.3% in North America, 74.1% in Europe and 85.1% in the Asia,” the company said in the release.

PETROCHEMICALS

Segment revenue: Rs 18366 crore, up 32.1% y-o-y
Segment EBIT: Rs 2215 crore, up 8%
“Increase in volume accounted for 6.5% growth in revenue and higher prices accounted for 25.6% growth in revenue. EBIT margins for the quarter ended 30th June 2011 were at 12.1% as compared to 14.8% in 1Q FY11 due to base effect of higher revenues. On a trailing quarter basis, EBIT margins were lower due to negative impact of margin contraction in Polyester & Polymer chains which was partially offset by higher margins in PVC, PET, Butadiene and LAB,” the company said.

Reliance Industries shares ended the day at Rs 882.15, up 0.98% over their previous close.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Jet Airways Q1 net loss at Rs 241 cr

Jet Airways has announced its first quarter results. The company's Q1FY11 revenues was up 19.4% at Rs 3541.6 crore versus Rs 2965 crore, year-on-year, YoY.

Its EBITDAR at 9.3% versus 20.4%, YoY

Its OPM at 3.4% versus 13.6%, YoY.

The company's reported net loss at 123 crore versus PAT of Rs 3.5 crore, YoY.

Its adjusted net loss at Rs 241 crore versus PAT of Rs 13.5 crore, YoY.

Jet Airways, QoQ

Its revenues were up 9.6% at Rs 3541 crore versus Rs 3232 crore.

Its EBITDAR at 9.3% versus 10.6%.

Its reported net loss at Rs 123 crore versus net loss of Rs 123 crore.

The company's adjusted net loss at Rs 241 crore versus net loss of Rs 236 crore.

Source: www.moneycontrol.com

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Bank of Maharashtra Q1 net profit up 3% at Rs 122 cr

Bank of Maharashtra has reported more than 3% rise (YoY) in its first quarter of FY12.During the period, net profit increased to Rs 122 crore against Rs 118 crore in the corresponding quarter last fiscal.

Net interest Income jumped 44% (YoY) to Rs 591.4 crore from Rs 410.5 crore.

Source: www.moneycontrol.com

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Indiabulls Real Q1 PAT up 214% at Rs 66 cr (YoY)

Indiabulls Real Estate has announced its first quarter results. The company's net sales were up 41% at 242 crore versus Rs 172 crore, year-on-year, YoY.

Its EBITDA was up 36% at 30 crore versus Rs 22 crore.

The company's other income was up 610% at Rs 142 crore versus Rs 20 crore.

Its net profit was up 214% at 66 crore versus Rs 21 crore.

Its EBITDA margins was down 12.5% versus 12.9%.

Q1FY12 (QoQ)-Consolidated

Its net sales were down 57% at Rs 242 crore versus Rs 561crore, quarter-on-quarter (QoQ)

Its EBITDA was down 69% at Rs 30 crore versus Rs 97 crore.

Its net profit was up 187% at 66 crore versus Rs 23 crore.

Its EBITDA margins was down 12.5% versus 17.3%.

Source: www.moneycontrol.com

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Sterlite Inds Q1 cons net profit up 63% at Rs 1,640 cr

Sterlite Industries, an arm of Vedanta Group, has reported nearly 63% (YoY) jump in the first quarter of FY12. During the period, consolidated net profit rose to Rs 1,640 crore against Rs 1,008 crore in the corresponding quarter last fiscal.

Consolidated net sales too shot up nearly 66% (YoY) to Rs 9,824 crore from Rs 5,925 crore. According to a CNBC-TV18 poll , net profit was seen at Rs 1,650 crore and net sales at Rs 9,800 crore.

EBITDA margin improved to 28% versus 25.3% year-on-year.

Source: www.moneycontrol.com

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HSIL Q1 net profit up 111% at Rs 28.5 cr

HSIL has reported a 111% jump in its first quarter FY12 net profit to Rs 28.5 crore against Rs 13.5 crore in the year ago period.

Net sales went up 41% to Rs 305 crore from Rs 216 crore year-on-year.

Source: www.moneycontrol.com

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NTPC Q1 net profit up 13% at Rs 2,076 cr

Country's largest power generation company NTPC has reported nearly 13% rise in its first quarter FY12 net profit to Rs 2,076 crore against Rs 1841.9 crore in the year ago period.

Net sales went up 9.5% to Rs 14,171 crore from Rs 12,944.5 crore year-on-year.

Source: www.moneycontrol.com

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Patni posts Q2 cons net loss at Rs 51.5 cr

Patni Computer has reported consolidated net loss of Rs 51.5 crore in the quarter ended June 2011 (Q2 CY11), as per Indian GAAP.

Consolidated revenue in the same period stood at 822 crore.

Source: www.moneycontrol.com

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OBC Q1 net profit down 2% at Rs 355 cr

Oriental Bank of Commerce (OBC) has reported a 2% fall in its first quarter FY12 net profit to Rs 355 crore against Rs 363.3 crore year-on-year.

Net interest income too fell 3.7% to Rs 1,018 crore from Rs 1,057.2 crore year-on-year.

Source: www.moneycontrol.com

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Sectoral Performance During Week 18th July to 22nd July, 2011

Sectoral Performance During Week 18th July to 22nd July, 2011

MAJOR SECTORAL GAINERS:
FMCG:1.7%
IT:1.3%
METAL:1%

MAJOR SECTORAL LOSERS:
CAPITAL GOODS:-0.2%
POWER:-1.1%
AUTO:-1.5%
PHARMA:-1.5%
CONSUMER DURABLES:-1.7%

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Trend in Global Market during the Week 18th July to 22nd July, 2011

Trend in Global Market during the Week 18th July to 22nd July, 2011

DOW JONES: 1.6%
FTSE: 1.6%
CAC: 3.1%
DAX: 1.5%
BOVESPA: 1.3%
SINGAPORE: 3.2%
NIKKEI: 1.6%
HANG SENG: 2.6%
SHANGHAI: -0.9%
SENSEX: 0.9%

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Important US Economic Data Releases for the Week 25th July to 29th July 2011

Important US Economic Data Releases for the Week 25th July to 29th July 2011

Monday
Chicago Fed National Activity Index

Tuesday
ICSC- Goldman Store
Consumer Confidence
New Home Sales
State Street Investor Confidence Index

Wednesday
Durable Goods Orders
EIA Petroleum Status

Thursday
Jobless Claims
Bloomberg Consumer Comfort Index
Pending Home Sales Index
EIA Natural Gas Report

Friday
Employment Cost Index
GDP
Chicago PMI
Consumer Sentiments
Farm Price

Source: www.sharetipsinfo.com

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Results to be declared on 25th July 2011

Source: www.bseindia.com

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Fmp Details(As on 22nd July 2011)

Fmp Details(As on 22nd July 2011)



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L&T Finance Holdings Ltd - IPO Details with Price Band

L&T Finance Holdings Ltd IPO

BRLM: JM Financial Consultants/Citigroup Global Markets/HSBC Securities and Capital Markets/Barclays Securities/Credit Suissue Securities/Equirus Capital.

Syndicate Member: JM Financial Services P. Ltd/SMC Global Securities Ltd/ Karvy Stock Broking Ltd/IDBI Capital Market Services Ltd.

Issue Period: July, 27 to July, 29, 2011

Issue Size: Rs. 1245 crs (244,117,647 Equity Sahres at Rs.51/-)
( 211,016,949 Equity Shares at Rs.59/-)

Shareholder: Rs.120 crs (23,529,412 Equity Sahres at Rs.51/-)
( 20,338,983 Equity Shares at Rs.59/-)

Employee: Rs.50 crs (9,803,922 Equity Sahres at Rs.51/-)
( 8,474,576 Equity Shares at Rs.59/-)

Net Issue: Rs.1075 crs (210,784,314 Equity Sahres at Rs.51/-)
( 182,203,390 Equity Shares at Rs.59/-)

Price Band: Rs.51 - Rs.59/-

Lot Size: 100 Equity Shares and in multiples of 100 Equity Shares

Registrar: Sharepro Services (India) Private Limited

QIB Book: (105,392,157 Equity Shares at Rs.51/- &
91,101,695 Equity Shares at Rs.59/-)50% of Net issue size

HNI Book: (31,617,647 Equity Shares at Rs.51/- &
27,330,508 Equity Shares at Rs.59/-)15% of Net issue size

Retail Book: (73,774,510 Equity Shares at Rs.51/- &
63,771,186 Equity Shares at Rs.59/-)35% of Net issue size

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Axis Bank Q1 net profit up 27% at Rs 942 cr

Axis Bank’s first quarter (April-June) net profit surged 27% year-on-year to Rs 942 crore, beating analysts’ estimates by a wide margin. Net interest income—the difference between interest earned and interest paid—climbed 14% to Rs 1724.1 crore, driven by a healthy growth in the loan book.


“We are happy to maintain CASA ratio at 40% and would sustain a NIM between 3.25-3.50%,” said Somnath Sengupta, ED & CFO at a tele-conference.
“Our endeavour is to retain the same level in FY12. However, we have seen a rise of 200 basis points in the cost of term deposits in the last one year. It has impacted our NIM. The sequential contraction in NIM was expected.”


Total advances or loans expanded more than 21% to Rs 1.32 lakh crore, surpassing the Reserve Bank of India’s credit growth projection of 19% in FY12. This assumes significance especially in the so-called slack season (April to September). The bank expects report a loan book growth above 19% in FY12.

The better-than-expected quarterly performance fired up the stock price, which rose nearly 5% to Rs 1298.

However, the net interest margin fell slightly from 3.44% to 3.28% quarter-on-quarter basis.

"The reduction in NIM during Q1FY12 was driven by a slower build up in CASA deposits leading to persistence of higher cost term deposits plus upward revision of rate for savings bank deposits," the bank said in a release.

Deposits grew at a faster pace at 24.50% to Rs 1.84 lakh crore while CASA (current account and savings account) deposits grew at a slower pace by 25.59% to Rs 74,414 crore. CASA ratio stood at 40.53% to total deposits as against 40.17% in March quarter.

In a rising interest rate scenario, CASA is cheap source of funds as compared to longer term deposits. Banks pay 0-4% interest in CASA as asgainst 7-11% for term deposits.

Gross non-performing asset (NPA) too improved to 1.06% versus 1.13% year-on-year. Net NPA stood at 0.31% against 0.35%. However, net NPAs sequentially rose by 5 basis points compared to March quarter’s 0.26%.

The bank restructured loans aggregating Rs 107 crore during the quarter. Restructured loans majorly (76.24%) came from large and mid corporates while SME sector forms only 11.80% of restructured assets.

Provisions declined 47% to Rs 175.84 crore from Rs 333 crore a year back. Other income increased almost 17% to Rs 1,168 crore from Rs 1,001 crore.

The bank is still awaiting certain approvals from the Reserve Bank of India, to complete its acquisition of Enam’s brokerage and investment banking business.

With a capital adequecy ratio of 12.53%, the lender does not have any plan to raise equity capital this year.

"We will look at raising equity capital in 2012. However, we have not yet decided on the amount," Sengupta said.

Source: www.moneycontrol.com

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Sasken Communications Q1 net profit at Rs 11.23 cr

Sasken Communications has reported a net profit of Rs 11.23 crore and net sales of Rs 94.38 crore for the quarter ended June 2011.


Source: www.moneycontrol.com

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Jet Q1 loss widens; co warns of margin pressure in Q2 also

Jet Airways’ net loss for the June quarter widened to Rs 123 crore, compared to Rs 3.5 crore last year, as fuel costs rose 57%. The loss was lower than analyst estimates, as the company showed Rs 118 crore as receivable from its maintenance vendor. But for this accounting entry, the net loss would have been much higher at Rs 241 crore.


On a standalone basis, the company’s quarterly revenues rose 18.5% year-on-year to Rs 3524 crore. Jet said passenger yields could not be improved beyond a point due to the ongoing price war in the industry. The company tried to improve yields by withdrawing discounts, but that reduced demand.

The company warned that high fuel price and price war would continue in the current quarter too.

“International crude prices continue to be around $100 per barrel and will impact Q2 numbers as well. Pricing activities by competition continues and this will put pressure on yields in what already is the weakest quarter of the year,” the company said in its outlook statement.

Yet, the company’s share rose 3% on Friday to close at Rs 500. Dealers tracking the stock attributed it to short covering of positions.

To see the company’s detailed press release, click here:

Jet’s dismal Q1 performance did not come as a surprise to analysts who had predicted a net loss varying between Rs 200-Rs 300 crore.

An analyst attributes the losses to irrational pricing in the industry. “In January-February, Air India slashed its fares more then 30%. This, put pressure on Jet to also sell below cost which put tremendous pressure on its yields,”

said an analyst who did not want to be named.

It is not just high fuel cost that is eroding the company’s margins; the ongoing court case with Sahara is also a cause for concern. Till the issue is resolved, the company cannot develop its property at Bandra Kurla Complex and cannot do a sale-and-leaseback transaction of a few aircraft to improve cash flows.

Source: www.moneycontrol.com

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Thermax Q1 net profit up 21% at Rs 79.9 cr

Thermax has reported nearly 21% rise in first quarter FY12 net profit to Rs 79.9 crore against Rs 66.2 crore in the year ago period.

Total income jumped 32% to Rs 1,044.4 crore from Rs 789.8 crore year-on-year.

Source: www.moneycontrol.com

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Godrej Properties Q1 cons net profit down 54.5% at Rs 10 cr

Godrej Properties has reported a 54.5% fall in its first quarter FY12 consolidated net profit to Rs 10 crore against Rs 22 crore in the year ago period.

Consolidated net sales jumped 231.7% to Rs 136 crore from Rs 41 crore year-on-year.

Other income declined to Rs 4 crore from Rs 32 crore year-on-year.


Source: www.moneycontrol.com

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Colgate Palmolive Q1 net down 18% YoY as expenses rise

Oral and personal care product maker Colgate Palmolive India missed street expectations as first quarter net profit fell 17.7% year-on-year to Rs 100.44 crore due to higher advertising and sales expenses and a rise in raw material costs.

The company’s net sales for the April-June quarter were up 15.6% from a year ago to Rs 611.1 crore.

Analysts on an average had expected Colgate’s first quarter net profit at Rs 130 crore on net sales of Rs 619 crore.

There has been fierce competition in the toothpaste category, especially between Colgate and Hindustan Unilever, and that was a major drag on the company’s earnings.

During the three-month period, Colgate’s advertising and sales promotion spends rose 42.3% to Rs 98.79 crore. A near 35% year-on-year increase in raw and packing material costs at Rs 207.78 crore also hurt earnings.

Colgate’s volumes rose 12% year-on-year in April-June, with a 14% growth in toothpastes.

Colgate Palmolive India shares were traded up 1% at Rs 987 on NSE in afternoon trade.


Source: www.moneycontrol.com

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Allahabad Bank Q1 net profit up 20.5% at Rs 418 cr

Allahabad Bank has reported a 20.5% rise in its first quarter FY12 net profit to Rs 418 crore against Rs 347 crore in the year ago period.

Net interest income jumped over 38% to Rs 1,176 crore from Rs 850 crore year-on-year.

Gross non-performing asset (NPA) increased 1.62% against 1.5% during the same period.

Net NPA too moved up 0.6% versus 0.4%. Provisions increased 112% to Rs 320 crore from Rs 151 crore year-on-year.

Source: www.moneycontrol.com

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JSW Holdings Q1 net profit at Rs 1 cr

JSW Holdings has reported a first quarter FY12 net profit of Rs 1 crore against Rs 16 crore in the year ago period.

Income from operations stood at Rs 2 crore from Rs 18 crore year-on-year.

Source: www.moneycontrol.com

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Praj Industries Q1 net profit up 31% at Rs 13.6 cr

Praj Industries has reported nearly 31% rise in first quarter FY12 standalone net profit to Rs 13.6 crore against Rs 10.4 crore in the year ago period.

Standalone net sales increased over 75% to Rs 164.3 crore from Rs 93.7 crore year-on-year.

Consolidated net profit jumped more than 67% to Rs 14.4 crore from Rs 8.6 crore.

Source: www.moneycontrol.com

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Motilal Oswal Q1 cons net down 13% at Rs 21.2 cr (QoQ)

Motilal Oswal has reported a 13% fall in its consolidated net profit to Rs 21.2 crore against Rs 24.3 crore in previous quarter.

Consolidated revenue declined 14% to Rs 107 crore from Rs 124.4 crore quarter-on-quarter.

Source: www.moneycontrol.com

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NIIT Q1 cons net profit at Rs 13.1 cr

NIIT has reported consolidated net revenue of Rs 321.2 crore in the first quarter FY12, representing a 16% growth YoY. System wide revenue grew by 17% YoY to Rs 469.2 crore.

The company’s PAT for the quarter stood at Rs 13.1 crore. The EBITDA was at Rs 30.7 crore, reflecting a margin of 10%.

Source: www.moneycontrol.com

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Kotak Mahindra Bank Q1 cons net up 27% at Rs 416 cr YoY

New generation private sector lender Kotak Mahindra Bank’s April-June net profit rose 35% to Rs 252 crore on the back of robust loan book growth. Net interest income (NII) increased 18% to Rs 568 crore during the quarter. However, the net interest margin (NIM) has contracted by 30 bps to 4.90%.


“Due to rising cost of funds, our NIM is down,” said Dipak Gupta, executive director, Kotak Mahindra Bank.

“We expect maintain a NIM 5%. We will have a secular loan growth at around 30-35% from all segments including corporate, commercial and consumer loans. The book show grows at 25-30% in FY12. Moreover, we have not seen any stress on our asset quality.”

During the quarter, the bank’s standalone loan book expanded 39% to Rs 32,339 while deposits grew 29% to Rs 31,047 crore. CASA ratio (Current Account Savings Account) fell from 28% to 27%.

Gross non-performing assets (NPAs) increased from 1.23% to 1.88% while net NPAs rose from 0.50% to 0.66%. According to the CFO of the bank, Jaimin Bhatt, June quarter amounted to a slippage of around Rs 30 crore and it was from all sectors.

Consolidated net profit of Kotak Mahindra Bank has jumped 27% (YoY) in the first quarter of FY12. Consolidated net profit was at Rs 416 crore from Rs 327.7 crore in the year-ago period.

As on June 30, bank’s capital adequacy ratio stood at 18.2%, much above the RBI’s mandated 9% requirement. The lender has no plan to raise capital.

Kotak Mahindra Bank shares were at Rs 475.90, down Rs 14.60, or 2.98% at the close of Thursday’s trade.

Source: www.moneycontrol.com

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Rallis India Q2 cons profit up 59.45% at Rs 23.12 cr

Rallis India has reported over 59% rise in second quarter 2011 consolidated net profit to Rs 23.12 crore against Rs 14.5 crore in the year ago period.

Consolidated net sales jumped 48% to Rs 291 crore from Rs 196 crore year-on-year.

Consolidated results included earnings of Metahelix.

Source: www.moneycontrol.com

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3i Infotech Q1 net profit up 25% at Rs 46 cr

3i Infotech has reported nearly 25% fall in first quarter FY12 net profit to Rs 46 crore against Rs 61.2 crore in the year ago period.

Net sales too declined 25% to Rs 479 crore from Rs 637 crore year-on-year.

Source: www.moneycontrol.com

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Coromandel International Q1 net up 32.5% at Rs 159 cr

Coromandel International has reported a 32.5% rise in its first quarter FY12 net profit to Rs 159 crore against Rs 120 crore in the year ago period.

Net sales shot up 15.5% to Rs 1,790 crore from Rs 1,549 crore year-on-year.

Source: www.moneycontrol.com

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