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.