COMPANIES & SECTORS


Moneylife Digital Team 14 May 2013
During the quarter there was a tax write-back of Rs4.8 billion which boosted the net profit for Bank of Baroda, points out Nomura Equity Research in its Quick Note   Bank of Baroda’s management expects domestic loan delinquency for the next couple of quarters to be at the level seen...

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Moneylife Digital Team 14 May 2013
Despite difficulties in the automotive sector, the company has managed to scale new milestones as its market capitalisation crossed Rs5,000 crore   Amara Raja Batteries recorded net sales of Rs 801 crore for the quarter ended 31 March 2013 when compared to the Rs672 crore for the...

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Moneylife Digital Team 14 May 2013
The company has pieced in decent quarterly numbers despite a slowdown in the commercial vehicles segment. The stock is currently trading at its 52-week high   Eicher Motors, manufacturer of the flagship Royal Enfield brand of motorcycles, has posted a net profit of Rs97.20 crore for...

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Moneylife Digital Team 14 May 2013
Ranbaxy USA pleaded guilty to “felony charges” relating to manufacture and distribution of certain adulterated drugs. The generic drugs at issue were manufactured at Ranbaxy’s facilities in Paonta Sahib and Dewas in India   Pleading guilty to “felony charges” relating to manufacture...

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Moneylife Digital Team 13 May 2013
High Mark Credit Information Services' promoter Prof Dr Pandya is negotiating with another credit bureau for an asset sale including about 250 million records collected from members. This is a gross violation of CIRC Act, alleges a former employee in a complaint to the...

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Moneylife Digital Team 13 May 2013
Self-acquired regulatory power for registering, accrediting and regulating the engagement of air cargo agents in India is alleged to have enabled IATA to indulge in anti-competitive activities, the CCI said   Competition Commission of India (CCI) is probing allegations of...

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The court will only interfere when any policy is “unconstitutional, contrary to statutory provisions or arbitrary or irrational or there is total abuse of power,” the Supreme Court said   In a landmark judgement, a three-judge Supreme Court bench of justices RM Lodha, Mohan B Lokur...

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Moneylife Digital Team 13 May 2013
During the quarter, there was an exceptional gain for Ashok Leyland of Rs1.34 billion mainly on sales of IndusInd shares. The company reported an EBITDA margin of 5.3% for the March quarter below Nomura's expectation of 10.9%   Ashok Leyland declared adjusted net profit of Rs157 million for...

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Moneylife Digital Team 13 May 2013
Cummins India could recoup some of its lost ground on the back of a one-time gain of Rs491 million from sale of investments, says Nomura Equity Research in its First Look on the company’s stock   Cummins India reported weak quarterly results in the fourth quarter of FY13 on the back...

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Moneylife Digital Team 13 May 2013
The tax demands, which include taxes on income and services, are for financial years 2003 to 2010, WNS had said in its annual report for 2012-13 given to the US Securities Exchange Commission   After Vodafone, Nokia and Shell, WNS is the latest multinational company (MNC) that has...

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Jubilant Foodworks, which owns the Dominos and Dunkin’ Donuts brands, has fared poorly throwing up questions on whether the quick service restaurant (QSR) has saturated or not. Edelweiss has recommended a ‘Hold’ call to its clients   Jubilant Foodworks (JFL), which runs the Dominos...

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Moneylife Digital Team 10 May 2013
Total sale of vehicles across categories registered a decline of 0.34% to 14,67,492 units in April 2013 against 14,72,452 units in the same month of 2012, according to the data released by the Society of Indian Automobile Manufacturers   Domestic passenger car sales declined by 10.43%...

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Moneylife Digital Team 09 May 2013
Nomura has reiterated a buy on the pharmaceutical company due to increased sales from India and US, as well as robust pipeline of ANDA pipeline that could boost Lupin’s future prospects Lupin has reported exemplary quarterly results, with 34.7% increase in consolidated net sales for the...

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Moneylife Digital Team 09 May 2013
As per the complaitn, five entities, including pharmaceutical company Cipla and a state-level trade body are allegedly engaged in anti-competition practices in granting stockist licence for medicines in Himachal Pradesh Competition Commission of India (CCI) is probing allegations of...

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Function and powers of the coal regulator need to be specific and clearly stated, in order to prevent disputes arising out of interpretation of the rules laid down It is gratifying to note the Supreme Court bench, headed Justice RM Lodha has issued orders to the government to come with a...

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Moneylife Digital Team 09 May 2013
The apex court said it cannot sit on judgement on the decision taken by parties in a business dealing The Supreme Court on Thursday refused to interfere in the $8.5-billion Cairn-Vedanta deal and dismissed a public interest litigation (PIL) that had challenged validity of the...

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Moneylife Digital Team 09 May 2013
The Aditya Birla Group company saw its net profit rocket up helped by net sales and trimming of long-term debt Aditya Birla Chemicals (India) Ltd, has reported above average net sales growth. For the quarter to end-March, the Aditya Birla Group reported total revenues, including sales,...

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Moneylife Digital Team 08 May 2013
The company has delivered on the sales front but saw weak operating profit and benign net profit growth The net sales of Vinati Organics increased 20% for the quarter ended March 2013 over the same period last year. For the same quarter, operating profit grew 4% y-o-y to Rs37.46, after a...

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Moneylife Digital Team 08 May 2013
Aided by strong demand for home loans from individuals, HDFC reported 17% growth in fourth quarter net profit Housing Development Finance Corporation (HDFC), the country's largest home finance company reported a 17% growth in its fourth quarter net profit on robust loan...

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Moneylife Digital Team 08 May 2013
Rupee depreciation, steep rise in global LNG prices and economic slowdown, impacted Gujarat Gas’ gas sales volumes in C12 and 1QC13. However, now the LNG prices have softened and the company expects sales volume to pick up, says SBI Cap Due to increased LNG cost, the blended gas cost...

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