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Moneylife Digital Team 24 April 2013
Cairn India’s focus is clearly back on drilling to further tap the Rajasthan resource—450 wells including 100 exploration wells planned over three years; two new rigs to join in the first quarter of calendar year 2013, taking the count to six; while the management’s plan is to contract five...

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Moneylife Digital Team 24 April 2013
Difficult industry conditions and lower sales led to disappointing results of the Pune-based foundry company Foseco India reported 11% lower year-on-year (y-o-y) net sales for the current quarter ended March 2013, at Rs55.86 crore, when compared to the Rs63.04 crore for the same period...

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Moneylife Digital Team 23 April 2013
Helped by its Rajasthan production, Cairn India reported decent numbers and saw its consolidated net profit increase 17% Oil and gas explorer Cairn India recorded consolidated revenue of Rs4,363.36 crore, for the quarter ended 31 March 2013 an increase over the Rs365,1.34 crore for the...

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Moneylife Digital Team 23 April 2013
The Nifty almost reached yesterday's low, but managed a flat close with a positive bias. A lower low or close below any previous day low may reverse the current upmove. A strong upmove may be possible above 5,870   The market managed a flat close with a positive bias helped by a late...

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Moneylife Digital Team 23 April 2013
Healthy loan growth and core net interest margins helped HDFC Bank achieve decent results for the last quarter of the 2013 fiscal HDFC Bank reported total income of Rs11,127.5 crore for the quarter ended 31 March 2013, which was 21.1% higher than the Rs9,189.9 crore recorded in the...

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Moneylife Digital Team 23 April 2013
Nomura has downgraded Titan Industries to a Neutral rating from Buy as it believes the near-term concerns over falling gold prices and the uncertain demand environment will likely mean earnings growth could be much more tepid than what consensus is building in Nomura Equity Research has...

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Moneylife Digital Team 23 April 2013
Any concerns on the outlook for India tea prices for FY14 on the back of trends in Kenya may be a kneejerk reaction, says Nomura Equity Research McLeod Russel’s stock price decline of 15% over the past two trading sessions is an excessive reaction, According to Nomura Equity Research in...

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Moneylife Digital Team 22 April 2013
The company’s revenues and profit were helped by the good performance of its infrastructure and technical support vertical as well as the depreciating rupee Mindtree has reported a 16.5% year-on-year (y-o-y) increase in revenues from Rs525.70 crore to Rs612.4 crore, in rupee terms. Net...

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Moneylife Digital Team 22 April 2013
The Aditya Birla Group company Ultratech Cement posted disappointing results amidst cost pressure and railway freight hike. It commits to expansion of its Rajasthan plant at a cost of Rs2,000 crore UltraTech Cement Company’s net Sales stood at Rs5,389 crore for the quarter ended 31 March...

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Moneylife Digital Team 22 April 2013
A close or even an intraday low below any previous day’s low on the Nifty may be the first sign of the end of the current upmove   The market closed with decent gains despite a fair deal of choppiness that was seen in the first half of the trading session. A close or even an intraday...

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Moneylife Digital Team 22 April 2013
Any near-term rebound in investments or middle-income consumption is unlikely, predicts Credit Suisse Equity Research in its India Market Strategy report Market sentiment on India of late has been the worst in recent memory. Six months back, consensus expected the economy to be bottoming...

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Moneylife Digital Team 20 April 2013
Nifty is getting overbought. However, it will move sideways and declines will be bought by bulls The Indian market snapped its two-week losing spree with splendid gains in the holiday-shortened week on hopes that  the Reserve Bank of India (RBI), in its annual monetary policy, due on 3rd...

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Moneylife Digital Team 19 April 2013
BSE, NSE, forex and money markets, commodity markets like oilseeds, pepper and metals are closed today for the festival of “Ram Navami” The Bombay Stock Exchange, National Stock Exchange, forex and money markets, commodity markets like oilseeds, pepper and metals are closed today for the...

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Moneylife Digital Team 19 April 2013
Wipro has guided for revenue of $1,575-$1,610 million from IT services in the first quarter, up just 1.6% at the higher end Wipro 's third quarter consolidated net profit rose near 1% quarter-on-quarter (17% year-on-year) to Rs 1,729 crore. India's third largest software services...

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Moneylife Digital Team 18 April 2013
Accounting change and lower sales income affects VST Industries’ bottomline Tobacco major VST has posted disappointing results with net profit declining 5.42% year-on-year (y-o-y) for the quarter ending 31 March 2013. It posted a net profit of Rs34.74 crore when compared to Rs36.73 crore...

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Moneylife Digital Team 18 April 2013
MRF posts profits despite lacklustre income and vehicle offtake due to lower rubber prices and better cost and inventory management Tyre manufacturer MRF has posted an increase in net profit of 40%, to Rs210.61 crore for the quarter ended 31 March 2013 as compared to Rs150.13 crore for...

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Moneylife Digital Team 18 April 2013
Healthy growth in total income and cost control drives profits for YES Bank YES Bank’s net interest income (NII) for Q4FY13 increased by 42.4% year-on-year (y-o-y) to Rs638.1 crore from Rs448.2 crore in Q4FY12. This was on account of healthy growth in customer assets and expansion in net...

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Moneylife Digital Team 18 April 2013
Traction in core fees and interest income helps boost net profits for IndusInd Bank IndusInd Bank has recorded strong results. Its net profit for the quarter ended March 2013 was Rs307.40 crore as against Rs 223.38 crore in the corresponding quarter of the previous year, showing a strong...

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Moneylife Digital Team 18 April 2013
Contrary to our expectation of a laboured rise, the market indices put on a smart rally today, despite a sharp decline in the US indices. The rally was on a much lower volume though. For a reversal, the Nifty will now have to make a lower high and a lower low   The market closed in the...

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Moneylife Digital Team 18 April 2013
Economic pressure and global concerns impacted CRISIL’s net profit. Ratings division sees fall in revenue CRISIL registered a consolidated income from operations of Rs255 crore for the quarter ended 31 March 2013, as against Rs229.74 crore in the corresponding quarter of the previous...

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