RBI hikes repo, reverse repo rates by 25 bps each

In a bid to clamp down on resurgent inflation, the Reserve Bank of India, in its first monetary policy review of 2011, raised repo and reverse repo rates by 25 basis points to 6.5% and 5.5%, respectively. This is in line with street expectations. It also warned that higher food prices could become entrenched if steps to boost output are not taken.

In accordance to a CNBC-TV18 poll of bankers and economists, the cash reserve ratio (which is the percentage of their deposits that banks must keep with the RBI as cash) and statutory liquidity ratio (SLR) have been left unchanged. Thus, CRR and SLR continue to stand at 6% and 24%, respectively.

As an instant effect of the credit policy, the Nifty hit the 5800-mark but immediately half of gains wiped out after central bank's forecast about GDP growth and inflation. The central bank upped its inflation forecast to 7% from the current 5.5%. This is likely to moderate in Q1FY12, RBI says. "Policy action will contain spill over to generalised inflation." The bank also said that the GDP growth rate may decline in FY12.

Experts believe that the RBI will continue raising rates going forwards. C Rangarajan, chairman of the Prime Minister's Economic Advisory Council said RBI has taken the right decision and expects RBI to continue with raising rates going forward. Sonal Varma India economist of Nomura Financial Advisory seconds that.

The brokerage community finds this to be a well-balanced move. When contacted, Sushil Finance said the RBI had tried to balance growth and inflation. "RBI is waiting for higher inflation." However, they too see hike of interest rate in month of April.

Source: www.moneycontrol.com

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DENIP Consultants Pvt Ltd

Essel Propack Q3 cons net profit down at Rs 15.6 cr

Essel Propack has declared its third qurter results. The company's Q3 consolidated net profit was down at Rs 15.6 crore versus Rs 41.7 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 360 crore versus Rs 350 crore, year-on-year, YoY.

Source: www.moneycontrol.com

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd

SREI Infra Q3 net profit down at Rs 23.15cr

SREI Infrastructure Finance has declared its third quarter results. The company's Q3 net profit was down at Rs 23.15 crore versus Rs 28.5 crore, year-on-year, YoY.

Its income from operations was up at Rs 160 crore versus Rs 120 crore, YoY.

Source: http://www.moneycontrol.com/

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DENIP Consultants Pvt Ltd

Jyothy Labs Q3 net profit up at Rs 16.89 cr

Jyothy Laboratories has announced its results for the quarter ended December 2010. It has reported net profit of Rs 16.89 crore as against Rs 16.84 crore (YoY).

Net sales increased to Rs 148 crore from Rs 135 crore (YoY).

Source: www.moneycontrol.com

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd

Tata Coffee Q3 cons net profit up at Rs 32.83 cr

Tata Coffee has announced its results for the quarter ended December 2010. It has reported consolidated net profit of Rs 32.83 crore as against Rs 2.72 crore (YoY).

Consolidated revenue jumped to Rs 347 crore from Rs 305 crore (YoY).

Source: http://www.moneycontrol.com/

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd

Ipca Labs Q3 net profit up at Rs 63.9 cr

Ipca Labs has announced its results for the quarter ended December 2010. It has reported net profit of Rs 63.9 crore as against Rs 58.2 crore.

Net sales increased to Rs 463 crore from Rs 393 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd

Ultratech Cement Q3 net profit up at Rs 320 cr

Ultratech Cement has announced its results for the quarter ended December 2010. It has reported net profit of Rs 320 crore as against Rs 115.8 crore (QoQ).

Net sales jumped to Rs 3,710 crore from Rs 3,214.7 crore (QoQ).

Source: www.moneycontrol.com

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Gaurav Agarwal
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DENIP Consultants Pvt Ltd

IDBI Bank Q3 net profit up 58.19% at Rs 454 cr

IDBI Bank has declared its results for the quarter ended December 2010. It has reported net profit of Rs 454 crore in Q3FY11 as against Rs 287 crore in same period of last year.

Net interest income shot up by 67.92% to Rs 1,204 crore from Rs 717 crore (YoY).

Net non-performing assets (NPAs) was down at 1.2% as on December 31 as against 1.4% (YoY).

Gross NPAs increased at 2.22% in December quarter of FY10 versus 2.07% (YoY).

IDBI Bank approved merger of IDBI Home Finance and IDBI Gilts with self.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Alembic Q3 cons net profit up at Rs 31 cr

Alembic has declared its third quarter results. The company's Q3 consolidated net profit was up at Rs 31 crore versus Rs 13 crore.

Its consolidated net sales were up at Rs 365 crore versus Rs 300 crore.

Source: www.moneycontrol.com

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Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd

Sterlite Ind Q3 cons net profit down at Rs 1101 cr

Sterlite Industries (India) has decalred its third quarter results. The company's Q3 consolidated net profit was down at Rs 1,101 crore versus Rs 1,008, quarter-on-quarter, QoQ.

Its consolidated revenues were up at Rs 8,294 crore versus Rs 6,029 crore, QoQ.

Its EBIDTA was up at Rs 1,941 crore versus Rs 1,474 crore, QoQ.

Its EBIDTA margin was at 23.4% versus 24.4%, QoQ.

Its other income wasdown at Rs 478 crore versus Rs 578 crore, QoQ.

The company's interest & finance charge was up at Rs 71 crore versus Rs 32 lakh, QoQ.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd