Swaraj Engines soars on reporting 25% rise in Q4 net profit

Swaraj Engines is currently trading at Rs. 717.50, up by 37.25 points or 5.48% from its previous closing of Rs. 680.25 on the BSE. The scrip opened at Rs. 705.00 and has touched a high and low of Rs. 725.00 and Rs. 702.00 respectively. So far 14958 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 772.80 on 07-Apr-2014 and a 52 week low of Rs. 431.00 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 725.00 and Rs. 665.00 respectively. The current market cap of the company is Rs. 889.38 crore. The promoters holding in the company stood at 50.62% while Institutions and Non-Institutions held 12.83% and 36.56% respectively. Swaraj Engines has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 25.25% in its net profit at Rs 17.46 crore for the quarter ended March 31, 2014 as compared to Rs 13.94 crore for the same quarter in the previous year. Total income of the company has increased by 39.13% at Rs 159.36 crore for quarter under review as compared to Rs 114.54 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 20.94% in its net profit at Rs 67.00 crore as compared to Rs 55.40 crore for the same period in the previous year. Total income of company has surged by 26.98% at Rs 608.28 crore for year under review as compared to Rs 479.03 crore for the year ended March 31, 2013.

Castor seed futures trade higher on restricted arrivals

Castor seed futures traded higher on NCDEX as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. Limited stocks position in the physical market too supported the rise of the prices. The contract for May delivery was trading at Rs 4120.00, up by 0.83% or Rs 34.00 from its previous closing of Rs 4086.00. The open interest of the contract stood at 111750.00 lots. The contract for June delivery was trading at Rs 4184.00, up by 0.87% or Rs 36.00 from its previous closing of Rs 4148.00. The open interest of the contract stood at 98120.00 lots on NCDEX.

Welspun Corp reports consolidated net profit of Rs 12.62 crore in Q4

Welspun Corp has reported results for fourth quarter and year ended March 31, 2014 The company has posted a around four-fold jump in its net profit at Rs 98.25 crore for the quarter ended March 31, 2014 as compared to Rs 24.88 crore for the same quarter in the previous year. However, total income from operations of the company has decreased by 25.72% at Rs 1192.51 crore for quarter under review as compared to Rs 1605.46 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported a net profit of Rs 12.62 crore for the quarter ended March 31, 2014 as compared to a net loss of Rs 1.57 crore for the same quarter in the previous year. However, total income from operations of the company has declined by 45.72% at Rs 1534.49 crore for quarter under review as compared to Rs 2826.79 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has reported a net loss of Rs 17.54 crore as compared to net profit of Rs 53.09 crore for the same period in the previous year. Total income from operations of company has dropped by 38.67% at Rs 4067.61 crore for year under review as compared to Rs 6632.17 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a net profit at Rs 73.39 crore as compared to a net loss of Rs 70.31 crore for the same period in the previous year. Total income from operations of company has decreased by 15.18% at Rs 7704.72 crore for year under review as compared to Rs 9083.21 crore for the period ended March 31, 2013.

Federal Bank surges on reporting 25% rise in Q4 net profit

Federal Bank is currently trading at Rs. 93.45, up by 1.20 points or 1.30% from its previous closing of Rs. 92.25 on the BSE. The scrip opened at Rs. 93.70 and has touched a high and low of Rs. 94.80 and Rs. 92.80 respectively. So far 340087 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 99.85 on 10-Apr-2014 and a 52 week low of Rs. 44.25 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 96.20 and Rs. 91.70 respectively. The current market cap of the company is Rs. 8001.44 crore. The institutions and non-institutions held 64.16% and 33.38% stake in the bank, respectively. Federal Bank has reported a rise of 24.93% in its net profit after tax at Rs 277.29 crore for the quarter ended March 31, 2014 as compared to Rs 221.94 crore for the same quarter in the previous year. Total income of the bank has increased by 13.30% at Rs 2017.12 crore for quarter under review as compared to Rs 1780.31 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the bank has reported a marginal rise of 0.08% in its net profit after tax at Rs 838.89 crore as compared to Rs 838.17 crore for FY13. Total income has increased by 11.82% at Rs 7639.93 crore for year under review as compared to Rs 6832.01 crore for the year ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the bank has posted a fall of 0.34% in its net profit after tax at Rs 849.75 crore as compared to Rs 852.66 crore for the same period in the previous year. However, total income of bank has increased by 11.28% at Rs 7690.88 crore for year under review as compared to Rs 6910.96 crore for the period ended March 31, 2013.

Potato futures decline on weak demand

Potato futures declined on MCX due to offloading of positions by speculators, triggered by weak demand in the spot market. Adequate stocks availability in the physical market following increased arrivals from producing belts also led to the downside of the commodity prices.

The contract for April delivery was trading at Rs 1297.00, down by 0.08% or Rs 1.00 from its previous closing of Rs 1298.00. The open interest of the contract stood at 146.00 lots.

The contract for May delivery was trading at Rs 1393.30, down by 1.02% or Rs 14.40 from its previous closing of Rs 1407.70. The open interest of the contract stood at 1356.00 lots on MCX.

Bharti Airtel reports 89% rise in Q4 consolidated net profit

Bharti Airtel has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 89.95% in its net profit at Rs 2059.90 crore for the quarter ended March 31, 2014 as compared to Rs 1084.40 crore for the same quarter in the previous year. Total income of the company increased by 12.47% at Rs 13092.70 crore for quarter under review as compared to Rs 11640.10 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 89.06% rise in its net profit at Rs 961.60 crore for the quarter ended March 31, 2014 as compared to Rs 508.60 crore for the same quarter in the previous year. Total income of the company went up by 13.61% at Rs 22260.50 crore for quarter under review as compared to Rs 19592.40 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 29.50% in its net profit at Rs 6600.20 crore as compared to Rs 5096.30 crore for the same period in the previous year. Total income of company improved by 8.45% at Rs 50771.90 crore for year under review as compared to Rs 46814 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 21.83% in its net profit at Rs 2772.70 crore as compared to Rs 2275.70 crore for the same period in the previous year. Total income of company has increased by 11.58% at Rs 85863.50 crore for year under review as compared to Rs 76947 crore for the period ended March 31, 2013.

Gold future edge lower on sustained selling

Gold future traded down on MCX as the traders remained on sidelines ahead of the FOMC meet and the gross domestic product report due to be released later today. Sustained selling by stockiest against sluggish demand amid a weakening global trend mainly led to decline in gold prices. The contract for June  delivery was trading at Rs 28675.00, down by 0.26% or Rs 75.00 from its previous closing of Rs 28750.00. The open interest of the contract stood at 10552.00 lots. The contract for August delivery was trading at Rs 28069.00, down by 0.32% or Rs 90.00 from its previous closing of Rs 28159.00. The open interest of the contract stood at 2552.00 lots on MCX

Nickel futures edge lower on subdued demand

Nickel futures edged lower on MCX as speculators reduced their positions on the back of weakening trend in the domestic spot markets due to subdued demand from alloy-makers. Besides, a weakening trend in most industrial metals at the London Metal Exchange (LME) also weighed on the nickel prices.

The contract for April delivery was trading at Rs 1092.50, down by 0.10% or Rs 1.10 from its previous closing of Rs 1093.60. The open interest of the contract stood at 3981.00 lots.

The contract for May delivery was trading at Rs 1095.80, down by 0.27% or Rs 3.00 from its previous closing of Rs 1098.80. The open interest of the contract stood at 8037.00 lots on MCX.

Soyabean futures edge up on NCDEX

Soyabean futures edged up on NCDEX on weak arrival of soya seeds in mandis across Madhya Pradesh. Further, increasing buying support by traders in tandem with firm global cues too supported soyabean prices uptrend. The contract for May delivery was trading at Rs 4822.50, up by 0.63% or Rs 30.00 from its previous closing of Rs 4792.50. The open interest of the contract stood at 73340 lots. The contract for June delivery was trading at Rs 4813.50, up by 0.54% or Rs 26.00 from its previous closing of Rs 4787.50. The open interest of the contract stood at 105240 lots on NCDEX.

GE bids for acquiring Alstom’s Energy activities

Alstom’s board of directors has received a binding offer from General Electric (GE) to acquire its Energy activities. The scope of the transaction includes the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services. With 65,000 employees, these businesses registered Euro 14.8 Billion in sales in fiscal year 2012/13. The proposed price is a fixed price representing an Equity Value of Euro 12.35 Billion and an Enterprise Value of Euro 11.4 Billion, or 12.2x FY13 EBIT. Alstom is a global leader in power generation, power transmission and rail infrastructure. Present in India since 1911, Alstom has strong capabilities in engineering, manufacturing, project management and supply of products and solutions for infrastructure.

Tata Motors moves up on the bourses

Tata Motors is currently trading at Rs. 414.85, up by 5.70 points or 1.39% from its previous closing of Rs. 409.15 on the BSE. The scrip opened at Rs. 412.75 and has touched a high and low of Rs. 418.00 and Rs. 412.65 respectively. So far 93287 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 437.70 on 11-Apr-2014 and a 52 week low of Rs. 263.10 on 27-Jun-2013. Last one week high and low of the scrip stood at Rs. 433.40 and Rs. 408.10 respectively. The current market cap of the company is Rs. 113546.23 crore. The promoters holding in the company stood at 34.33% while Institutions and Non-Institutions held 36.89% and 7.53% respectively. Tata Motors’ subsidiary Jaguar Land Rover (JLR), the UK’s leading manufacturer of premium vehicles, has received a prestigious 2014 Queen’s Award for Enterprise in International Trade, reflecting sustained sales success driven by global exports to over 170 countries. The award is conferred for outstanding overseas sales growth over the last three years. Exports account for 80% of all vehicles Jaguar Land Rover produces at its three UK manufacturing plants. In 2013, the company sold 425,006 vehicles, up 19% on the previous year. Jaguar Land Rover’s largest export regions are mainland Europe, North America and China, together accounting for 60% of all export sales.  In addition, the company’s share of vehicle sales in regions beyond its traditional major markets in the UK, US and Europe has increased from below 15% in 2008 to more than 40% now, as it has focused on driving a balanced global sales presence.

Chana futures trade down on higher arrivals

Chana futures traded down on NCDEX as speculators offloaded their positions triggered by higher arrivals from the major producing belts. Further, sluggish demand in the spot market too fuelled the commodity prices downtrend.

The contract for May delivery was trading at Rs 3091.00, down by 0.61% or Rs 19.00 from its previous closing of Rs 3110.00. The open interest of the contract stood at 86260 lots.

The contract for June delivery was trading at Rs 3154.00, down by 0.50% or Rs 16.00 from its previous closing of Rs 3170.00. The open interest of the contract stood at 73860 lots on NCDEX.

Barley futures extend gains on strong demand

Barley futures extended their gains on NCDEX following fresh buying support at existing lower levels. Moreover, pick up in demand from beer and cattle-feed making industries against restricted supply in physical markets too influenced the commodity prices in future trade. The contract for May delivery was trading at Rs 1343.00, up by 0.67% or Rs 9.00 from its previous closing of Rs 1334.00. The open interest of the contract stood at 8710.00 lots. The contract for June delivery was trading at Rs 1368.00, up by 0.66% or Rs 9.00 from its previous closing of Rs 1359.00. The open interest of the contract stood at 9280.00 lots on NCDEX.

Cotton futures rule flat on MCX

Cotton futures ruled flat for the April contracts. While May contracts traded down due to supplies from the new harvest amid sluggish demand from millers, while estimates of higher output.  The contract for April delivery was trading flat at its previous close of Rs. 20650.00/ Bales. The open interest of the contract stood at 328.00 lots. The contract for May delivery was trading at Rs 21190.00/Bales, down by 0.14% or Rs 30.00 from its previous closing of Rs 21220.00. The open interest of the contract stood at 6286.00 lots on MCX.

Dr Reddy’s Lab trades up on the bourses

Dr Reddy’s Lab is currently trading at Rs. 2723.70, up by 57.15 points or 2.14% from its previous closing of Rs. 2666.55 on the BSE. The scrip opened at Rs. 2666.00 and has touched a high and low of Rs. 2783.00 and Rs. 2666.00 respectively. So far 30996 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2939.80 on 28-Feb-2014 and a 52 week low of Rs. 1970.25 on 08-May-2013. Last one week high and low of the scrip stood at Rs. 2690.00 and Rs. 2550.00 respectively. The current market cap of the company is Rs. 46354.67 crore. The promoters holding in the company stood at 25.52% while Institutions and Non-Institutions held 40.59% and 15.87% respectively. Dr Reddy’s Laboratories has launched Fenofibrate Capsules, USP 43 mg and 130 mg a therapeutic equivalent generic version of ANTARA (fenofibrate) capsules, in the US market on April 22, 2014, approved by the United States Food & Drug Administration (USFDA). The ANTARA (fenofibrate) capsules brand and generic had U.S. sales of approximately $74 Million MAT for the most recent twelve months ending in February 2014 according to IMS Health. The company’s Fenofibrate capsules, USP 43 mg is available in bottle counts of 30 and 130 mg are available in bottle counts of 30 and 90. Dr. Reddy’s is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - the company offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, bio-similars, differentiated formulations and NCEs.

Kerala State Civil Supplies Corporation likely to procure 6 LT of paddy

Kerala State Civil Supplies Corporation (Supplyco) is likely to procure about 6 lakh tonnes (LT) of paddy from farmers in the state during 2014-15. The paddy procurement (Khariff and Rabi seasons) stood at 5 LT during 2013-14 and 3.6 LT during 2012-13. The total procurement has seen an increase of about 40% during 2013-14 as compared to 2012-13. This week about Rs 150 crore will be disbursed by the corporation to paddy farmers. With this, payment for the Paddy Receipt Sheet (PRS) up to March 31 will be completed in all the districts. Earlier, an amount of Rs 125 crore was paid to paddy farmers towards the cost of paddy during February and March this year. During the 2013-14 second season, about 3.2 LT of paddy has been procured by Supplyco from about one lakh paddy farmers of the state so far. It is expected that about 80,000 tonnes will be procured during month of May. The corporation, which has over 1,200 retail outlets, was targeting a turnover of Rs 5,000 crore this financial year against Rs 3,415 crore in the last fiscal.

Turmeric futures trade lower on profit booking

Turmeric futures traded lower on NCDEX as speculators booked profits at prevailing higher levels, driven by weak demand in the spot market. Further, rising arrivals from producing belts against adequate stocks position also dampened the sentiments. The contract for May delivery was trading at Rs 6834.00, down by 1.04% or Rs 72.00 from its previous closing of Rs 6906.00. The open interest of the contract stood at 10025.00 lots. The contract for June delivery was trading at Rs 6996.00, down by 0.96% or Rs 68.00 from its previous closing of Rs 7064.00. The open interest of the contract stood at 6465.00 lots on NCDEX.

Liberty Shoes shines on plan to open 10 exclusive showrooms in Kerala

Liberty Shoes is currently trading at Rs. 180.90, up by 4.00 points or 2.26% from its previous closing of Rs. 176.90 on the BSE. The scrip opened at Rs. 178.50 and has touched a high and low of Rs. 182.80 and Rs. 176.50 respectively. So far 50,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 194.00 on 21-Apr-2014 and a 52 week low of Rs. 67.80 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 184.50 and Rs. 170.00 respectively. The current market cap of the company is Rs. 308.00 crore. The promoters holding in the company stood at 64.92%, while Institutions and Non-Institutions held 0.07% and 35.01% respectively. Liberty Shoes, a leading shoe manufacturer, has reported that it will open 10 exclusive showrooms in Kerala during current financial year. The first will come up at Marine Drive in Kochi and the company would initially spend Rs 5 crore for setting up the showrooms. Liberty Shoes is amongst the top 5 manufacturers of leather footwear of the world producing more than 50,000 pairs a day using a capacity of more than 3 lakhs square feet of leather per month.

Jeera future trade higher on buying support

Jeera future traded up on NCDEX on account of fresh buying support from retailers and stockists amid paucity of stocks. Moreover, restricted arrivals from producing belts also supported the prices

The contract for May delivery was trading at Rs 10585.00, down by 0.81% or Rs 85.00 from its previous closing of Rs 10500.00. The open interest of the contract stood at 7656.00 lots.

The contract for June delivery was trading at Rs 10720.00, down by 0.89% or Rs 95.00 from its previous closing of Rs 10625.00. The open interest of the contract stood at 4431.00 lots on NCDEX.

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Ranbaxy declines as its merger deal with Sun Pharma hits legal hurdle

Ranbaxy Laboratories is currently trading at Rs. 472.95, down by 10.25 points or 2.12% from its previous closing of Rs. 483.20 on the BSE. The scrip opened at Rs. 475.00 and has touched a high and low of Rs. 476.90 and Rs. 466.05 respectively. So far 114324 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 505.00 on 07-Apr-2014 and a 52 week low of Rs. 253.95 on 02-Aug-2013. Last one week high and low of the scrip stood at Rs. 488.00 and Rs. 464.00 respectively. The current market cap of the company is Rs. 20067.21 crore. The promoters holding in the company stood at 63.41% while Institutions and Non-Institutions held 20.09% and 15.02% respectively. Ranbaxy Laboratories and Sun Pharmaceutical Industries’ merger deal has hit legal hurdle after Andhra Pradesh High Court asked stock exchanges as well as Securities and Exchange Board of India (SEBI) to maintain an interim status-quo on the merger or an arrangement or an amalgamation of Sun Pharma and Ranbaxy Laboratories. The order, issued on Friday, was in response to a petition filed by some individual investors, who alleged insider trading in Ranbaxy shares before announcement of the deal on April 6. The Andhra Pradesh High Court has said that unless and until they hear this and gives a decision on this matter of an insider trading; no clearances should be given to this deal. Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.

Coriander futures trade lower on subdued demand

Coriander futures traded down on NCDEX due to the subdued demand from retailers and stockists against adequate stocks. Besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market led to the fall in coriander futures prices. The contract for May delivery was trading at Rs 9355.00, down by 0.97% or Rs 92.00 from its previous closing of Rs 9447.00. The open interest of the contract stood at 28930.00 lots. The contract for June delivery was trading at Rs 9590.00, down by 0.83% or Rs 80.00 from its previous closing of Rs 9670.00. The open interest of the contract stood at 35880.00 lots on NCDEX.

Karur Vysya Bank opens six new branches

Karur Vysya Bank (KVB), a private sector lender, in order to increase its footprints has opened six new branches. Out of the 6 branches, the bank has opened 2 branches in state of Andhra Pradesh while 4 new branches have been opened in Tamil Nadu state.

The 2 branches inaugurated at Andhra Pradesh state is located at Krishna Bazaar, Narsipatnam and Sangareddy while 4 branches inaugurated in Tamil Nadu is located at Chennai, Vellore District, Coimbatore and Madurai. 

Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.

Godrej Consumer Products gains on plans of hiking its hair care product price

Godrej Consumer Products is currently trading at Rs. 789.00, up by 5.60 points or 0.71% from its previous closing of Rs. 783.40 on the BSE. The scrip opened at Rs. 790.00 and has touched a high and low of Rs. 796.00 and Rs. 780.00 respectively. So far 2352 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 977.40 on 18-Jul-2013 and a 52 week low of Rs. 672.00 on 27-Jan-2014. Last one week high and low of the scrip stood at Rs. 821.40 and Rs. 770.50 respectively. The current market cap of the company is Rs. 26753.74 crore. The promoters holding in the company stood at 63.31 % while Institutions and Non-Institutions held 30.18 % and 6.51 % respectively. Godrej Consumer Products (GCPL) has reportedly planned to hike the price of its Godrej Expert Rich Hair Crème to Rs 35 from Rs 30 for a single sachet.  Inching closer with its price points, the company continues to be a notch lower than its nearest competitor, in a clear preference to price-savvy consumers. Its main competitors are Marico with its Livon brand, and L’Oreal, with its Garnier Black Naturals, in the hair colours category. With a new campaign ‘Best ever hair colour’, company will be extending its hair colour range over the next two years. Godrej Consumer Products is a leader among India's Fast Moving Consumer Goods companies, with leading Household and Personal Care Products. Its brands include Good Knight, Cinthol, Godrej No. 1, Expert, Hit, Jet, Fairglow, Ezee, Protekt and Snuggy, among others, which are household names across the country.

Fiscal deficit control coming at the cost of lower productive spending: Crisil

The global rating agency, Crisil in a report has stated that a huge cut in expenditure on the education and health sectors in fiscals 2013 and 2014, which enabled the finance minister P. Chidambaram to achieve the fiscal deficit target at 4.6% of GDP during 2013-14, has lowered productive spending. As per the rating agency, the government’s efforts to narrow fiscal deficit since last two years by expenditure cuts resulted in lower productive spending, a factor which the new government would find challenging to boost. Further, it also outlined that the cost of this compromise would be felt in the years to come, since the government’s productive spending will have a multiplier impact on the economy in subsequent years.  The report also stated that new government, which would take charge from coming month, would be first required to aim to reverse this trend and raise the government’s productive spending. The 13th Finance Commission had last year set a capital expenditure-to-GDP target of 4.5% by FY15. However, the report said the ratio for FY14 was 1.7 per cent and the same is budgeted for FY15. It further, added that even if revenue grants provided by the government for capital creation to the States were to be added to the Centre’s capital expenditure, the government’s total budgeted spending for productive purposes will only be 2.8 per cent in FY15. In interim budget 2014-15, Union Finance Minister P. Chidambaram pegged FY14 fiscal deficit would be at 4.6%, below the red line of 4.8% set in the beginning of the year.  It highlighted that in the previous two years, productive spending, which is capital expenditure and the revenue grants for capital creation in critical areas such as public infrastructure, education and health care, had below the than budgeted by nearly Rs. 1.8 trillion. In terms of per person spending, while the government spent an additional over Rs 1,900 per person on other expenditure over the last two financial years, it spent an incremental Rs 110 on productive spending.

GCPL plans to hike the price of Expert Rich Hair Crème to Rs 35 from Rs 30 for single sachet: Report

Godrej Consumer Products (GCPL) has reportedly planned to hike the price of its Godrej Expert Rich Hair Crème to Rs 35 from Rs 30 for a single sachet.  Inching closer with its price points, the company continues to be a notch lower than its nearest competitor, in a clear preference to price-savvy consumers. Its main competitors are Marico with its Livon brand, and L’Oreal, with its Garnier Black Naturals, in the hair colours category. With a new campaign ‘Best ever hair colour’, company will be extending its hair colour range over the next two years. Godrej Consumer Products is a leader among India's Fast Moving Consumer Goods companies, with leading Household and Personal Care Products. Its brands include Good Knight, Cinthol, Godrej No. 1, Expert, Hit, Jet, Fairglow, Ezee, Protekt and Snuggy, among others, which are household names across the country.

RIL trades with strength on BSE

Reliance Industries (RIL) is currently trading at Rs. 959.00, up by 18.70 points or 1.99 % from its previous closing of Rs. 940.30 on the BSE. The scrip opened at Rs. 945.00 and has touched a high and low of Rs. 959.75 and Rs. 943.75 respectively. So far 77521 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 988.90 on 22-Apr-2014 and a 52 week low of Rs. 765.00 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 976.90 and Rs. 938.35 respectively. The current market cap of the company is Rs. 309877.08 crore. The promoters holding in the company stood at 45.30%, while Institutions and Non-Institutions held 29.86% and 21.41% respectively. In a view to avoid irreparable loss to all parties, including the government, Reliance Industries (RIL) has urged Oil Ministry to announce a new natural gas price soon after polling ends on May 12. While a new formula for pricing of all domestically produced natural gas was notified on January 10 and published in Gazettee on January 17, the Election Commission last month asked the government to defer its implementation till general elections are completed. The new pricing formula, that almost doubles the price of natural gas to about $ 8.34 per million British thermal unit, was to be implemented from April 1 but following the directive of the poll watchdog, was put in abeyance till model code of conduct for elections is in place.

RIL urges Oil Ministry to announce new natural gas price soon after polling

In a view to avoid irreparable loss to all parties, including the government, Reliance Industries (RIL) has urged Oil Ministry to announce a new natural gas price soon after polling ends on May 12. While a new formula for pricing of all domestically produced natural gas was notified on January 10 and published in Gazettee on January 17, the Election Commission last month asked the government to defer its implementation till general elections are completed. The new pricing formula, that almost doubles the price of natural gas to about $ 8.34 per million British thermal unit, was to be implemented from April 1 but following the directive of the poll watchdog, was put in abeyance till model code of conduct for elections is in place.

Swaraj Engines’ Punjab plant faces labour issues

A section of employees are not reporting to duties at Swaraj Engines’ engine manufacturing plant situated at Mohali in state of Punjab. Their demands are unjustified and matter is in conciliation with the Labour Commissioner’s Office. There is no loss of production as rest of the employees are reporting to work and are meeting the production requirements and catering to the operations of the plant. Swaraj Engines (SEL) is a joint venture between erstwhile Punjab Tractors (PTL), which has since been merged with Mahindra & Mahindra (M&M) and Kirloskar Oil Engines (KOEL). Originally set up to manufacture engines for PTL, in recent years SEL has also been a supplier of hi-tech engine components to Swaraj Mazda (SML).

MRPL gains on plan to invest $1.4 billion for expansion of crude processing facility

Mangalore Refinery & Petrochemicals (MRPL) is currently trading at Rs. 61.15, up by 0.30 points or 0.49% from its previous closing of Rs. 60.85 on the BSE. The scrip opened at Rs. 60.80 and has touched a high and low of Rs. 61.70 and Rs. 60.55 respectively. So far 48483 shares were traded on the counter. The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.70 on 23-Apr-2014 and a 52 week low of Rs. 26.45 on 16-Aug-2013. Last one week high and low of the scrip stood at Rs. 65.70 and Rs. 55.10 respectively. The current market cap of the company is Rs. 10655.80 crore. The promoters holding in the company stood at 88.58%, while Institutions and Non-Institutions held 3.56% and 7.86% respectively. In a bid to meet growing fuel demand in Asia’s third-largest economy, Mangalore Refinery & Petrochemicals (MRPL) is planning to invest $1.4 billion for expansion of crude processing at its facility in western India Mangalore Refinery, a unit of India’s biggest state-run explorer Oil & Natural Gas Corp, will raise capacity by 40 percent to 420,000 barrels a day by end-March 2018. The company is planning the expansion after spending $300 million on a 60,000 barrel-a-day delayed coker that started earlier this month and $330 million for a 44,000 barrel-a-day fluidised catalytic cracker that will begin next month. MRPL is a joint venture oil refinery promoted by Hindustan Petroleum Corporation (HPCL), a public sector company and IRIL & Associates (AV Birla Group). It has a design capacity to process 9.69 million metric tonnes per annum and is the only refinery in India to have two hydrocrackers producing Premium Diesel (High Cetane).

TDSAT clears 3G ICR road-block; quashes Rs 1200 crore penalty imposed by DoT

Providing relief after almost two years to telcos, Bharti Airtel, Vodafone and Idea Cellular, the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) allowed the 3G intra-circle roaming (ICR) agreements signed between the three companies, stating that the pacts didn't violate any license conditions. Besides, the tribunal also quashed the cumulative penalty of Rs 1,200 crore imposed on them by Department of Telecom (DoT). The tribunal opined that denial to such roaming pacts will result in under-utilization of 3G spectrum, which would not be in national interest. Thus, with this development, the operators will be allowed to use each others' 3G spectrum in circles, where they do not have 3G airwaves, allowing them to offer their subscribers seamless 3G access across India. The three operators won 3G spectrum in 2010 auction. While, Airtel won 3G spectrum in 13 out of 22 telecom service area for a sum of Rs 12,295.46 crore, Vodafone and Idea Cellular bagged 9 and 11 circles for Rs 11,617.86 crore and  Rs 5,768.59 crore respectively. However, DoT, on December 23, 2011 issued notice to Airtel, Vodafone and Idea barring these companies from providing 3G ICR within 24 hours and report compliance, but the order was challenged by telecom operators. Post to which, in July 2012, TDSAT gave split verdict where one of the bench members ruled in favour and other member ordered against it on account of which DoT again issued notice to telecom operators asking them to stop 3G ICR service along with penalty cumulatively amounting to about Rs 1,200 crore which was quashed by the tribunal. Refusing to relent, the operators then approached Delhi High Court (HC) which ruled in favour of DoT's decision to hold the 3G roaming pact of the telecom major as illegal. Telecom operators then moved the Supreme Court against order of HC and sought that the case be transferred to TDSAT. According to the 3G ICR agreements entered into by the three telcos, Airtel sought access to Vodafone's 3G network in four service areas- Maharashtra, Kolkata, Haryana and UP East. Vodafone accessed six 3G circles of Airtel- Assam, Bihar, Karnataka, North East, Rajasthan and UP West, besides 7 circles of Idea Cellular- Andhra Pradesh, Himachal Pradesh, Jammu and Kashmir, Kerala, Madhya Pradesh, UP West and Punjab. Idea is yet to start 3G service in Punjab. Idea Cellular, on its part, secured the right to provide 3G services using Vodafone's network in Delhi, Tamil Nadu, Chennai and Kolkata.

Mahindra & Mahindra’s Punjab plant faces labour issues

A Section of employees are not reporting to duties at Mahindra & Mahindra’s Tractor manufacturing Plants situated at Mohali, Punjab. Their demands are unjustified and matter is in conciliation with the Labour Commissioner’s Office. There is no loss of production as rest of the employees are reporting to work and are meeting the production requirements and catering to the operations of the Plant. Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.

Indian Overseas Bank shines on reporting over four fold jump in Q4 net profit

Indian Overseas Bank is currently trading at Rs. 61.00, up by 5.95 points or 10.81% from its previous closing of Rs. 55.05 on the BSE. The scrip opened at Rs. 57.10 and has touched a high and low of Rs. 61.25 and Rs. 55.90 respectively. So far 932421 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 65.65 on 20-May-2013 and a 52 week low of Rs. 37.15 on 19-Aug-2013. Last one week high and low of the scrip stood at Rs. 56.60 and Rs. 52.20 respectively. The current market cap of the company is Rs. 7171.20 crore. The promoters holding in the company stood at 73.80% while Institutions and Non-Institutions held 17.14% and 9.06% respectively. The bank has reported over four fold jump in its net profit at Rs 268.33 crore for the quarter as compared to Rs 58.87 crore for the same quarter in the previous year. Total income of the bank has increased by 9.79% at Rs 6,475.93 crore for quarter under review, as compared to Rs 5,898.15 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the bank has reported a rise of 6.08% in its net profit after tax at Rs 601.74 crore, as compared to Rs 567.23 crore for FY13. Total income has increased by 9.72% at Rs 24,853.07 crore for year under review as compared to Rs 22,649.63 crore for the year ended March 31, 2013.

Indian Overseas Bank reports over four fold jump in Q4 net profit

Indian Overseas Bank has reported results for fourth quarter and year ended March 31, 2014. The bank has reported over four fold jump in its net profit at Rs 268.33 crore for the quarter as compared to Rs 58.87 crore for the same quarter in the previous year. Total income of the bank has increased by 9.79% at Rs 6,475.93 crore for quarter under review, as compared to Rs 5,898.15 crore for the quarter ended March 31, 2013. For the full year ended March 31, 2014, the bank has reported a rise of 6.08% in its net profit after tax at Rs 601.74 crore, as compared to Rs 567.23 crore for FY13. Total income has increased by 9.72% at Rs 24,853.07 crore for year under review as compared to Rs 22,649.63 crore for the year ended March 31, 2013.

Liberty Shoes to open 10 exclusive showrooms in Kerala: Report

Liberty Shoes, a leading shoe manufacturer, has reported that it will open 10 exclusive showrooms in Kerala during current financial year. The first will come up at Marine Drive in Kochi and the company would initially spend Rs 5 crore for setting up the showrooms. Liberty Shoes is amongst the top 5 manufacturers of leather footwear of the world producing more than 50,000 pairs a day using a capacity of more than 3 lakhs square feet of leather per month.

BHEL trades in pink of its health in early deals

Bharat Heavy Electricals (BHEL) is currently trading at Rs. 188.00, up by 1.30 points or 0.70% from its previous closing of Rs. 186.70 on the BSE. The scrip opened at Rs. 188.20 and has touched a high and low of Rs. 188.25 and Rs. 184.55 respectively. So far 70432 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 207.90 on 22-May-2013 and a 52 week low of Rs. 100.35 on 20-Aug-2013. Last one week high and low of the scrip stood at Rs. 195.25 and Rs. 185.10 respectively. The current market cap of the company is Rs. 45880.26 crore. The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 32.61 % and 4.33 % respectively. Bharat Heavy Electricals (BHEL), a maharatna company, has won the ‘National Intellectual Property (IP) Award 2014’ for being the ‘Top Indian Public Limited Company in Patents’. Significantly, the company was also awarded the World Intellectual Property Organisation (WIPO) Award for Innovative Enterprises. BHEL has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.

Physical rubber prices improved on Tuesday

Physical rubber prices improved on Tuesday on fresh buying and short covering in the absence of genuine and quantity sellers at lower levels.

Spot prices for RSS-4 variety improved to Rs 141.50/ kg compared to its previous closing of Rs 140/ kg, while RSS-5 variety closed at Rs 137/ kg compared to its previous close of Rs 135.50/ kg.

In the futures market, contract of May delivery firmed up to Rs 142.72 compared to its previous closing of Rs 142.16, while June delivery closed at Rs 145.75 compared to its previous close of Rs 145.01 on the National Multi Commodity Exchange (NMCE).

BHEL wins National Intellectual Property Award 2014

Bharat Heavy Electricals (BHEL), a maharatna company, has won the ‘National Intellectual Property (IP) Award 2014’ for being the ‘Top Indian Public Limited Company in Patents’. Significantly, the company was also awarded the World Intellectual Property Organisation (WIPO) Award for Innovative Enterprises. BHEL has been committed to the nation's power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.

IFCI reports 14% rise in Q4 net profit

IFCI has reported results for fourth quarter and year ended March 31, 2014 The company has posted a rise of 13.57% in its net profit at Rs 170.29 crore for the quarter ended March 31, 2014 as compared to Rs 149.94 crore for the same quarter in the previous year. Total income of the company increased by 12.82% at Rs 829.72 crore for quarter under review as compared to Rs 735.38 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 12.69% in its net profit at Rs 508.10 crore as compared to Rs 450.87 crore for the same period in the previous year. Total income of company improved by 6.95% at Rs 2951.26 crore for year under review as compared to Rs 2759.30 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 0.79% in its net profit at Rs 536.23 crore as compared to Rs 532 crore in FY13. Total income of company increased by 14.14% at Rs 3639.64 crore for year under review as compared to Rs 3188.67 crore for the period ended March 31, 2013.

Tata Elxsi unveils RDK Reference Deployment Suite for operators

Tata Elxsi has unveiled its RDK Reference Deployment Suite to operators adopting RDK. The Reference Design Kit (RDK) is a pre-integrated software bundle that provides a common framework for powering customer-premises equipment (CPE) from TV service providers, including set-top boxes, gateways, and converged devices. The RDK is supported by more than 125 licensees, is being widely adopted by TV service providers, STB manufacturers and SoCs vendors across the globe. Tata Elxsi provides a comprehensive set of services which includes App Development, Localization, Porting & Validation, System Integration and Deployment support to customers in RDK space. Tata Elxsi has established its leadership in RDK space by directly participating in commercially deployed RDK solutions. With a pool of RDK experts, partnerships, necessary infrastructure and ready to use solutions; Tata Elxsi is well positioned to support to RDK ecosystem partners in developing and deploying RDK based solutions. Tata Elxsi’s RDK Reference Deployment Suite is a scalable reference implementation for RDK rollout, enabling operators to quickly adapt their client / back-office for RDK deployment. The package includes an HTML5 Application Framework, RDK specific servers and a set of HTML5 apps - and is aimed to enable operators to accelerate RDK deployment. Tata Elxsi provides system integration and software development. The company caters to various industries such as aerospace, consumer electronics, entertainment, FMCG, telecom etc.

Tata Chemicals strengthens on getting nod for merger of Homefield International with itself

Tata Chemicals is currently trading at Rs 296.90, up by 2.80 points or 0.95% from its previous closing of Rs. 294.10 on the BSE. The scrip opened at Rs 296.05 and has touched a high and low of Rs 297.50 and Rs 295.00 respectively. So far 8065 shares were traded on the counter. The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 333.90 on 02-May-2013 and a 52 week low of Rs 234.50 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs 302.90 and Rs 281.00 respectively. The current market cap of the company is Rs 7492.38 crore. The promoters holding in the company stood at 31.06% while Institutions and Non-Institutions held 44.34% and 24.60% respectively. Tata Chemicals (TCL) has received an approval for scheme of amalgamation of Homefield International (Mauritius), a wholly owned subsidiary of the company with itself under the provisions of Companies Act, 1956. The High Court of Bombay vide its order dated March 7, 2014 has sanctioned for the same. Accordingly, in terms of the scheme, all assets and liabilities of Homefield International, under the provisions of Companies Act 1956, stands transferred to and vested in the company. As Homefield International is a wholly owned subsidiary, no shares of the company will be issued and allotted in lieu or exchange of the equity shares of Homefield International. Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Tata Swach is a water purifier developed by Tata Chemicals.

SBI inks pack with Reliance Money Infrastructure: Report

State Bank of India (SBI) has reportedly inked pack with Reliance Money Infrastructure (RMIL), an Anil Ambani Group company, in a business correspondent deal to source a range of banking services. The deal authorizes RMIL to identify borrowers; collect, process, and submit loan applications; promote credit groups; take up post-sanction monitoring, follow-up, and recovery. As the service provider, RMIL will also collect small-value deposits; sell micro-insurance, mutual fund and pension products; and receive and deliver small-value remittances. The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.

HDFC trades in green on the bourses

HDFC is currently trading at Rs. 886.40, up by 1.45 points or 0.16% from its previous closing of Rs. 884.95 on the BSE. The scrip opened at Rs. 887.80 and has touched a high and low of Rs. 891.35 and Rs. 877.45 respectively. So far 34959 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 933.00 on 10-Apr-2014 and a 52 week low of Rs. 632.20 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 895.50 and Rs. 862.25 respectively. The current market cap of the company is Rs. 137951.08 crore.  The Institutions and Non-Institutions held 87.65% and 12.35% respectively. Housing Development Finance Corporation (HDFC), India’s largest housing finance company, has raised External Commercial Borrowing (ECB) of $300 million from a consortium of 4 lenders, State Bank of India (SBI), Sumitomo Mitsui Banking Corporation (SMBC), The Bank of Tokyo-Mitsubishi UFJ, and DBS Bank. The ECB which is in the form of a syndicated loan facility is a first by an Indian Housing Finance Company (HFC) under the low cost affordable housing scheme of Reserve Bank of India (RBI). SBI and SMBC are the original mandated lead arrangers and book runners, while The Bank of Tokyo-Mitsubishi UFJ and DBS Bank are mandated lead arrangers. The borrowing facility has a tenor of 5 years. The company has drawn-down the facility in February 2014 from the above consortium of lenders. The rate of interest on the facility is linked to USD Libor plus a spread of 1.75%. HDFC has swapped the facility in Indian Rupees for the entire tenor of the loan. Road shows shall be conducted by the lender banks in Taipei & Singapore in March 2014 to syndicate the facility and invite other international banks to participate in the facility. RBI in December 2012, permitted to HFCs/ NHB to raise ECBs for financing prospective owners of low cost affordable housing units. Low Cost Affordable Housing units have been defined as units where the property cost does not exceed Rs 30 lakhs, loan amount is capped at Rs 25 lakh and the carpet area does not exceed 60 square metres.

FIIs were net sellers of Rs 860.19 crore in index futures and options segments on April 29

According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 860.19 crore in index futures and options segments as per Tuesday’s data, April 29, 2014. FIIs were sellers of index futures to the tune of Rs 427.56 crore and they sold index options worth Rs 432.63 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 690.51 crore, while they sold stock options worth Rs 1.40 crore.

Gold futures edge lower as US equities strengthen

Gold futures edged lower on Tuesday, tailing the rise in US equities as traders assessed data showing a gauge of US consumer confidence for April falling short of forecasts. Further dollar strengthened against a basket of major currencies ahead of the Federal Reserve's statement on monetary policy, which also influenced the precious metal price. Gold futures for June delivery settled down $2.70 to $1,296.30 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 14 cents to $1,295.74 an ounce.

Reliance MF files offer document for Dual Advantage Fixed Tenure Fund VI (Plan A - Plan F)

Reliance Mutual Fund has filed offer document with SEBI to launch a close ended hybrid scheme named as “Reliance Dual Advantage Fixed Tenure Fund VI (Plan A - Plan F)”. The New Fund Offer price is Rs 10 per unit. Entry and exit load charges will be nil for the scheme. The Minimum Target Amount of the scheme is Rs 20 crore. The scheme will be benchmarked against Crisil MIP Blended Fund Index. The minimum application amount is Rs.5000 and in multiples of Rs.10 thereafter. The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the Scheme along with capital appreciation through equity exposure.

Deutsche Mutual Fund files offer document for Global Top Dividend Fund

Deutsche Mutual Fund has filed offer document with SEBI to launch a Open Ended Overseas Fund of Funds scheme as “Deutsche Global Top Dividend Fund”. The New Fund Offer price is Rs 10 per unit. Entry load charges will be nil for the scheme and exit load 1% if redeemed/ switched out within 12 months from date of allotment. The Minimum Target Amount of the scheme is Rs 10 crore. The scheme will be benchmarked against MSCI World. The minimum application amount is Rs.5000 and in multiples of Rs.1 thereafter. The investment objective of the scheme is to generate long term capital growth from a diversified portfolio of units of overseas mutual funds that focus on high dividend yield companies.

Tata Chemicals gets nod for merger of Homefield International with itself

Tata Chemicals (TCL) has received an approval for scheme of amalgamation of Homefield International (Mauritius), a wholly owned subsidiary of the company with itself under the provisions of Companies Act, 1956. The High Court of Bombay vide its order dated March 7, 2014 has sanctioned for the same. Accordingly, in terms of the scheme, all assets and liabilities of Homefield International, under the provisions of Companies Act 1956, stands transferred to and vested in the company. As Homefield International is a wholly owned subsidiary, no shares of the company will be issued and allotted in lieu or exchange of the equity shares of Homefield International. Tata Chemicals, part of the Tata Group, is a leading manufacturer of chemicals, fertiliser and food additives. Tata Swach is a water purifier developed by Tata Chemicals.

CEAT eyeing to foray in business of sporting equipment

CEAT is eyeing to carry on the business of manufacture, distribution and sale of sporting equipment, which can conveniently and advantageously be combined with the existing business of the company. The board of directors at its meeting held on April 29, 2014, approved the proposed alteration in object clause of the Memorandum of Association (MOA) of the company, subject to the approval of the shareholders. CEAT is among the best tyre manufacturers in India. Besides tyres, the company also manufactures and markets tubes and flaps. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks.

TCS becomes exclusive certification provider for CDMI conformance testing by SNIA

Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions organization, has been appointed as the only certification services and test provider for cloud data management interface (CDMI) conformance testing by the Storage Networking Industry Association (SNIA). The SNIA launched the CDMI conformance test program (CTP) for cloud vendors to provide interoperability standards for end users. Cloud storage companies will now be able to utilize TCS’ innovative CDMI Conformance Assurance Solution to ensure that their cloud storage products meet SNIA standards with greater efficiency, which leads to faster time-to-market, increased market share and less cost. TCS’ CDMI Conformance Assurance Solution tests cloud storage products for adherence to SNIA CDMI standards and reports issues that need to be fixed. With SNIA appointing TCS as the only certification services and test provider and offering support throughout the testing process, TCS’ solution empowers companies to deliver superior quality CDMI conformant products faster to the market. Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services.

Dabur India gains on reporting 17% rise in Q4 consolidated net profi

Dabur India is currently trading at Rs. 178.80, up by 1.10 points or 0.62% from its previous closing of Rs. 177.70 on the BSE. The scrip opened at Rs. 178.50 and has touched a high and low of Rs. 179.00 and Rs. 178.25 respectively. So far 2,946 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 190.00 on 02-Apr-2014 and a 52 week low of Rs. 142.75 on 22-Aug-2013. Last one week high and low of the scrip stood at Rs. 182.40 and Rs. 177.00 respectively. The current market cap of the company is Rs. 31,196.00 crore. The promoters holding in the company stood at 68.64% while Institutions and Non-Institutions held 24.88% and 6.48% respectively. The company has posted a rise of 17.68% in its net profit at Rs 187.90 crore for the quarter ended March 31, 2014 as compared to Rs 159.67 crore for the same quarter in the previous year. Total income of the company increased by 14.09% at Rs 1280.90 crore for quarter under review as compared to Rs 1122.74 crore for the quarter ended March 31, 2013. On consolidated basis, the company has reported 17.32% rise in its net profit at Rs 235.29  crore for the quarter ended March 31, 2014 as compared to Rs 200.55 crore for the same quarter in the previous year. Total income of the company went up by 15.56% at Rs 1812.75 crore for quarter under review as compared to Rs 1568.61 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 13.73% in its net profit at Rs 672.10 crore as compared to Rs 590.98 crore for the same period in the previous year. Total income of company improved by 12.06% at Rs 4979.65 crore for year under review as compared to Rs 4443.62 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 19.71% in its net profit at Rs 913.92 crore as compared to Rs 763.42 crore for the same period in the previous year. Total income of company has increased by 15.10% at Rs 7225.89 crore for year under review as compared to Rs 6277.96 crore for the period ended March 31, 2013.

Markets to get some recovery with a positive start

The Indian markets declined further and major indices witnessed cut of over half a percent on profit booking and some disappointing earnings announcements in last session. Today, the start is likely to be in green and markets may get some recovery after their continuous drubbing. Traders will be getting some support with an Assocham CEO survey of which around 50 per cent of Indian CEOs said they are optimistic about the Indian economy, and expect it to be stronger in the next six months. Though, there will be some concerns as well, the global credit ratings agency Crisil has said that government’s efforts to narrow fiscal deficit since last two years by expenditure cuts has resulted in lower productive spending, and the new government would find it challenging to give it a boost. Meanwhile, Prime Minister Manmohan Singh will meet the full-time members of the Planning Commission to take stock of the economy and progress of development works undertaken during the UPA regime. Mobile operators will keep buzzing, as they will be able to offer 3G services across the country, with the telecom tribunal holding their roaming pacts to be valid. There will be lots of result announcements too, to keep the market momentum going. Arss Infra Projects, Everest Inds, IDBI Bank, JSW Energy, Kansai Nerolac, Marico, Merck, Oriental Bank, Petronet LNG, Sterlite Tech and Walchandnagar are among many to announce their numbers. The US markets strengthened in last session on the back of some upbeat earnings announcements; however there was weak consumer confidence data that capped the further gains of the market. Asian markets have mostly made a positive start ahead of the Bank of Japan and Federal Reserve report on monetary policy. Back home, extending their southward journey for third consecutive session, Indian equity benchmarks ended the Tuesday’s trade near day’s lows on geo-political tension over Ukraine. Selling was both brutal and wide-based as, barring consumer durables; none of sectoral indices on BSE could manage a green close. Counters, which featured in the list of worst performers, were metal, banking, auto and power. After getting a promising start, frontline gauges slipped into negative terrain, as markets participants turned cautious on report that foreign investors sold index futures worth Rs 1170 crore over the previous two sessions. Selling got intensified in last leg of trade as investors remained pessimistic on India Meteorological Department’s (IMD) announcement that the country will likely get below-normal levels of monsoon rain this year. Moreover, the Reserve Bank of India has warned that El Nino can impact the yield, which could further trigger the inflation rate above 8.5 per cent and may result in hiking rates further. On the global front, European markets made a positive start, while the Asian markets shut shop mostly in the green. Back home, mining stocks remained under pressure during the trade on report that the Supreme Court may go for a Goa-like mining ban in Odisha for a period of three months, to allow the state government to sort out illegalities in the mining sector and grant fresh leases.  Additionally, Railway stocks such as Titagarh Wagons, Kalindee Rail Nirman and Kernex Microsystems plunged by over 10% due to profit-booking. Railway stocks had witnessed a sharp run-up in the past few trading sessions on expectations that these companies would bag orders from the new government. On the flip side, telecom stocks grabbed some limelight after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) cleared the 3G intra-circle roaming agreements signed between Bharti Airtel, Vodafone India and Idea Cellular, saying the pacts didn't violate any license conditions and also quashed the penalties levied on the three operators by the telecom department (DoT). Finally, the BSE Sensex plunged by 165.42 points or 0.73%, to 22466.19, while the CNX Nifty declined by 46.00 points or 0.68% to 6,715.25.