Oriental Bank of Commerce Q3 net down 91.27% at Rs 19.56 crore

The bank had posted net profit of Rs 19.56 crore against Rs 224.3 crore in the same period last year

Public sector lender Oriental Bank of Commerce (OBC) today reported a 91.27 per cent decline in net profit at Rs 19.56 crore for the third quarter ended December 31, 2014, dragged by higher provisions.

The bank had posted net profit of Rs 224.3 crore for the October-December quarter of 2013-14, OBC said in a BSE filing.

OBC's total income rose by 7.79 per cent to Rs 5,458.79 crore during the October-December period from Rs 5,063.98 crore in the same period last year.

During the quarter under review, the bank's provisioning other than tax and contingencies jumped by 57.75 per cent to Rs 885.14 crore from Rs 561.1 crore in the same quarter of the previous fiscal.

The bank's gross NPAs increased to 5.43 per cent at the end of third quarter from 3.87 per cent in the corresponding period in the previous year.

Shares of Oriental Bank of Commerce were trading at Rs 292.70 apiece, down 6.49 per cent from its previous close on the BSE.

IIFL Q3 net profit at Rs112.3 crores

Total Income has increased from Rs. 6897.19 mn for the quarter ended December 31, 2013 to Rs. 9244.96 million for the quarter ended December 31, 2014.

IIFL Holdings Ltd has posted a net profit after tax and minority interest of Rs. 1123.37 million for the quarter ended December 31, 2014 as compared to Rs. 671.08 mn for the quarter ended December 31, 2013.

 

Total Income has increased from Rs. 6897.19 mn for the quarter ended December 31, 2013 to Rs. 9244.96 million for the quarter ended December 31, 2014.

HDFC Q3 PAT at Rs1425 crore

Total Income has increased from Rs. 60309.30 mn for the quarter ended December 31, 2013 to Rs. 68825.20 million for the quarter ended December 31, 2014.



HDFC Ltd has posted results for the third quarter ended 31st December, 2014. 

The net profit for the quarter stood at Rs1425 crore HDFC Q3 Loan book at Rs2.20 lk crore. 

Total Income has increased from Rs. 60309.30 mn for the quarter ended December 31, 2013 to Rs. 68825.20 million for the quarter ended December 31, 2014.

Sensex, Nifty in red

The Indian equity market continues to trade on a gloomy note, on account of profit-taking and futures & options expiry today.

As of 1338 hrs, the BSE Sensex is down 37 points at 29,559 and the NSE Nifty has declined 22 points at 8,892.

The broader indices are also trading in red; The CNX Midcap and Nifty Junior index have declined 0.4 per cent each at 13,163 and 19,612, respectively. The Smallcap index is marginally down at 5,514.

The India VIX (Volatility) index has gained over a per cent at 19.9875.

Among sectors, the CNX PSU Bank has slipped nearly 3 per cent at 4,299. The Metal index continues to trade with a loss of over a per cent at 2,512. The Finance index has also shed almost a per cent at 8,194.

The Bank Nifty, Auto and Infra indices are the other notable losers.

On the other hand, the Realty index has jumped 2.3 per cent at 230. The Energy index has advanced around a per cent at 8,926. The FMCG and Pharma index have also added 0.2-0.4 per cent each at 21,064 and 11,620, respectively.

All PSU Bank shares are trading red.

Oriental Bank of Commerce has tanked almost 8 per cent to Rs. 288. Allahabad Bank and Union Bank of India have cracked 4 per cent each at Rs. 122 and Rs 217, respectively.

Punjab National Bank has plunged over 3 per cent at Rs. 200. Bank of India has slipped almost 3 per cent at Rs. 282.

Bank of Baroda has tumbled 2.5 per cent at Rs. 218. SBI, Syndicate Bank and IDBI Bank have dropped over 2 per cent each.

Canara Bank, Andhra Bank and Indian Overseas Bank are the other significant losers.

Karur Vysya Q3 PAT at Rs114 cr

Karur Vysya,Bank has posted results for the third quarter ended 31st December, 2014.

The net profit for the quarter stood at Rs114 crore.

Karur Vysya Q3 net NPA at  0.73% 

The bank's Q3 provisions at Rs106 cr

Airlines reduces fares by up to 50%: Reports

Spicejet was the first to reduce fares. The airline announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in 

Airlines dropped fares by up to 50% to fill up seats, according to reports.

Spicejet was the first to reduce fares. The airline announced the launch of its first Super Sale Offer for 2015, with 5,00,000 seats for sale at all inclusive one way advance booking fares starting as low as Rs. 1,499 all-in.  

While Jet Airways joined the sale bandwagon and is offering all-inclusive return tickets starting from Rs 4,459.

Under the scheme which is valid till March 31, Jet is offering a Goa-Mumbai-Goa ticket for Rs 4,459 

Asian Paints tumbles after Q3 results

Asian Paints has tumbled deeper into red in the early noon deals, after the company reported below than expected Q3 earnings.

According to a release issued by the company to the BSE, Asian Paints today reported around 12 per cent growth consolidated net of Rs. 368.18 crore for the quarter ended 31 December, 2014 as compared to Rs. 329.35 crore for the quarter ended 31 December, 2013.

Total income was also up almost 6 per cent at Rs. 3,684 from Rs. 3,481 crore in the same above mentioned period.

Now, Asian Paints is down over 3.5 per cent at Rs. 878, and has seen trades of around 450,000 shares as compared to its two-week daily average volume of 229,000 shares on the BSE. 

Sintex allots 29.3 lk shares to FCCB bond holders on conversion; stock up 1%

Sintex Industries Ltd has informed BSE that pursuant to the approval of the Shareholders of the Company at the 81st Annual General Meeting of the Company held on September 17, 2012; for issue of US $ 140,000,000, 7.50 per cent, step down Convertible Bonds due 2017, the Committee of Directors at its meeting held on January 29, 2015 has allotted 29,26,018 equity shares of Rs. 1/- each to Foreign Currency Convertible Bonds ("FCCB") holders on the exercise of their conversion right. 

With the said allotment of 29,26,018 equity shares of Rs. 1/- each of the Company as aforesaid, the paid up equity share capital of the Company as on January 29, 2015 stands increased from Rs. 37,70,78,682/- to Rs. 38,00,04,700/- divided into 38,00,04,700 Equity shares of Re. 1/- each. The company shares were trading at Rs. 115.15, up 0.70 per cent at BSE.

The stock has hit a high of Rs. 116.50 and a low of Rs. 114.20. Total traded quantity on the counter stood at over 10.67 lk shares.

Lupin stock up 3%

Shares of Lupin Ltd was up 3% at Rs1558 after the Board approved to increase Fll investments to 49%.

The stock was up 3% at Rs1558 and a low of Rs1520.

At the 31st Annual General Meeting held on August 07, 2013, the shareholders approved the proposal to increase the said limit. Applications for increasing the said limit were submitted to the Reserve Bank of India and Foreign Investment Promotion Board.

Sensex, Nifty slip further

The market recovered most of its early losses in the early noon deals, but once again drifted lower on the back of fresh selling in select shares.

At 12:59 PM, the S&P BSE Sensex is trading at 29,559 down 87 points, while NSE Nifty is trading at 8,884 down 30 points.

In the broader market, the BSE Smallcap index is up 0.3 per cent at 11,398, while the Midcap index is flat at 10,812.

Among sectors, the Metal index is still trading with a loss of over a per cent at 10,182. The IT index has declined 0.4 per cent at 11,113. The Bankex and Power indices are also down 0.2 per cent each.

On the other hand, the BSE Realty index has jumped 2.3 per cent at 1,759. The Oil & Gas index has spurted 1.4 per cent at 10,197. The Consumer Durables index has advanced almost a per cent at 10,882 and the FMCG and Natural Gas have added 0.2-0.3 per cent each.

The breadth is neutral in early noon deals - out of 2,644 stocks so far traded on the BSE 1,265 stocks have advanced, while 1,263 stocks have declined.

Among Sensex-30 stocks, Coal India is the top loser, down 3.4 per cent to Rs. 371 ahead of stake sale plan.

HDFC has slipped over 2 per cent at Rs. 1,314. ICICI Bank and Bharti Airtel have dropped around 2 per cent each at Rs. 377 and Rs. 367, respectively.

Mahindra & Mahindra has shed 1.5 per cent at Rs. 1,294. Sun Pharma, Sesa Sterlite, SBI, Tata Steel and Maruti Suzuki are the other losers - down over a per cent each.

On the other hand, Reliance is the top gainer - up almost 3 per cent to Rs. 932. Dr Reddy's and HDFC Bank have jumped over 2 per cent each at Rs. 3,311 and Rs. 1,080, respectively.

Hindustan Unilever has spurted almost a per cent at Rs. 940. ITC, Gail India and Hero MotoCorp have also gained 0.4-0.7 per cent each.