·RBI may allow banks to buy infrastructure bonds
The RBI is considering allowing banks to buy infrastructure bonds, which has been suffering from low trading volumes. Allowing banks to buy infrastructure bonds would mark a reversal for the RBI, which allowed lenders to only issue the debt, while limiting purchases to investors such as pension funds, provident funds, and insurers. In case this is implemented it would help banks to raise funds at competitive rates and hence positive for banks having higher infra exposures ICICI, Axis, PNB, IDBI, SBI etc.
·HUL Q3 net profit up 18% (YoY)
Hindustan Unilever Ltd ( HUL) has announced the following for the quarter ended December 31, 2014 (YoY):Net Profit of the company rose by 17.87% to Rs1252.17 crore Vs Rs1062.31 crore (YoY).Total Income increased by 7.17% to Rs7894.39 crore Vs Rs7366.01 crore (YoY).
·Gruh Finance Q3 net profit up 27% (YoY)
Gruh Finance Ltd has announced the following results for the quarter ended December 31, 2014 (YoY):Net Profit of the company rose by 26.95% to Rs44.74 crore Vs Rs35.24 crore (YoY).Total Income increased by 24.71% to Rs271.11 crore Vs Rs217.39 crore (YoY).
·Atul Auto surges on healthy performance in Q3 nos
Shares of Atul Auto gained nearly 5%, touching to Rs722 on BSE, after net profit rose 17.08% to Rs11.31 crore on 12.62% growth in net sales to Rs138.41 crore in Q3 December 2014 over Q3 December 2013.
·Info Edge Q3 net profit up 20% (YoY)
Info Edge (India) has announced the following results for the quarter ended December 31, 2014 (YoY):Net Profit of the Company rose by 19.88% to Rs38.64 crore Vs Rs32.23 crore (YoY).Total Income increased by 28.98% to Rs171.32 crore Vs Rs132.82 crore (YoY).
·M&M Financial slumps on weak Q3FY15 results
Shares of Mahindra & Mahindra Financial Services slumped over 7% to Rs288 on NSE after the company reported weak Q3FY15 results. Leading NBFC M&M Finance reported very weak set of numbers for Q3FY15 as its net profits plunged by 18% YoY (down 34% QoQ) to Rs 136.4 crore. This was driven by a sharp rise in provisions (up 46% YoY) due to weakness in asset quality. The management has also given weak guidance due to stress in rural economy. Therefore the stock could react negatively.
·V-Guard slumps 6% on depressing Q3 margins
Shares of V-Guard slump 6% to Rs1077 on NSE post Q3FY2015 results led by depressed margin pushed net profit down by 47%,V-Guard reported a very weak result during Q3FY2015; earnings declined by 47% YoY to Rs9 crore, significantly lower than our as well as street estimate. Sharp fall in earnings would be attributed to moderate revenue growth and substantial margin contraction witnessed in the quarter. Revenue grew by 13% YoY to Rs395 crore, which is largely in line with our estimate but OPM of 5.5% (against our estimate of 8.3%) surprised us negatively.
·Asian Paints to set up plant at Vizag at Rs1700 crore
The Andhra Pradesh government has cleared the administrative hurdles for Asian Paints to set up Rs1700crore manufacturing facility at Vishakhapatnam. The Company has agreed to establish the unit soon after the allotment of the land and obtaining due environmental and other clearances from the government.
·Wipro spurts as Q3 net profit beats street
Shares of Wipro rallied over 7% to Rs596 on National Stock Exchange (NSE) after reported a better-than-expected 5% quarter on quarter growth in net profit at Rs2,192 crore for the financial year’s third quarter ended December 31, 2014 ( Q3). Revenue at Rs11,992 crore grew 2.7% sequentially.The stock opened at Rs591.10 and hit a high of Rs598.50 on NSE.
·HCL Tech gains on bonus plans
Shares of HCL Technologies surge over 3% to Rs1690 on NSE on back of plans to issue bonus share HCL Tech: To consider issue of bonus share on the day of earnings release on 30th January 2015, stock to react positively.
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