INDIAN FACE
INDIAN EQUITY BENCHMARK surrendered early gains to end in the red for the fourth straight session due to both domestic poll-related concerns and global geo-political worries.
Further, Petronet LNG Ltd posted a net profit of Rs. 1693.00 million for the quarter ended March 31, 2014 as compared to Rs. 2451.40 million for the quarter ended March 31, 2013.
IDBI Bank has posted a net profit of Rs. 11214.00 million for the year ended March 31, 2014 as compared to Rs. 18820.80 million for the year ended March 31, 2013.
Further, Petronet LNG Ltd posted a net profit of Rs. 1693.00 million for the quarter ended March 31, 2014 as compared to Rs. 2451.40 million for the quarter ended March 31, 2013.
IDBI Bank has posted a net profit of Rs. 11214.00 million for the year ended March 31, 2014 as compared to Rs. 18820.80 million for the year ended March 31, 2013.
GLOBAL FACE
Asian stock markets were mixed, as investors looked ahead to the outcome of the Federal Reserve's policy meeting later in the day.
European stocks market were lower, as investors awaited the release of highly anticipated euro zone inflation data later in the trading session, as well as the Federal Reserve's upcoming policy statement.
U.S. stocks markets pointed to a lower, as investors remained cautious ahead of the release of key U.S. economic reports, as well as the Federal Reserve's monthly policy statement.
IOB stock surges 14%
Shares of IOB has soared 14% to Rs 62 after reporting an over four-fold jump in net profit at Rs 268 crore for the fourth quarter ended March 31, 2014.Total Income has increased from Rs. 58469.80 million for the quarter ended December 31, 2012 to Rs. 61902.60 million for the quarter ended December 31, 2013.
TVS Motor zooms 6%, eyes growth in FY15 & new products
Shares of TVS Motor surged 6 percent as it posted a net profit of Rs 52.1 crore in the quarter ended March 31, 2014 against a loss Rs 32.7 crore in the year-ago period. Launches and upgrades which the company had introduced across the scooter and motorcycle drove its revenue up 21 percent year-on-year to Rs 2,156 crore.
Alstom Group shares in focus on plans to divest non-core assets
Shares of Alstom Group companies – Alstom India Limited and Alstom T&D India have rallied up to 18% after parent company Alstom announced that it has received a binding offer from General Electric (GE) to acquire its energy business.
OBC Q4 net up 0.8% on other income but provisions jump 23%
Public sector lender Oriental Bank of Commerce surpassed street expectations by reporting net profit at Rs 310.3 crore in the quarter ended March 2014, up 0.8 percent compared to same quarter last year supported by higher other income and net interest income. Asset quality was stable but provisions increased during the quarter.
Ranbaxy, Sun Pharma fall 2-3% as merger plans hit roadblock
Shares of Ranbaxy and Sun Pharma are under selling pressure as merger of both the companies are stuck in a legal roadblock . Both the stocks lost 2-3 percent intraday on Wednesday as Andhra Pradesh High Court has asked stock exchanges as well as Securities and Exchange Board of India to maintain an interim status-quo on the merger.
European stocks market were lower, as investors awaited the release of highly anticipated euro zone inflation data later in the trading session, as well as the Federal Reserve's upcoming policy statement.
U.S. stocks markets pointed to a lower, as investors remained cautious ahead of the release of key U.S. economic reports, as well as the Federal Reserve's monthly policy statement.
IOB stock surges 14%
Shares of IOB has soared 14% to Rs 62 after reporting an over four-fold jump in net profit at Rs 268 crore for the fourth quarter ended March 31, 2014.Total Income has increased from Rs. 58469.80 million for the quarter ended December 31, 2012 to Rs. 61902.60 million for the quarter ended December 31, 2013.
TVS Motor zooms 6%, eyes growth in FY15 & new products
Shares of TVS Motor surged 6 percent as it posted a net profit of Rs 52.1 crore in the quarter ended March 31, 2014 against a loss Rs 32.7 crore in the year-ago period. Launches and upgrades which the company had introduced across the scooter and motorcycle drove its revenue up 21 percent year-on-year to Rs 2,156 crore.
Alstom Group shares in focus on plans to divest non-core assets
Shares of Alstom Group companies – Alstom India Limited and Alstom T&D India have rallied up to 18% after parent company Alstom announced that it has received a binding offer from General Electric (GE) to acquire its energy business.
OBC Q4 net up 0.8% on other income but provisions jump 23%
Public sector lender Oriental Bank of Commerce surpassed street expectations by reporting net profit at Rs 310.3 crore in the quarter ended March 2014, up 0.8 percent compared to same quarter last year supported by higher other income and net interest income. Asset quality was stable but provisions increased during the quarter.
Ranbaxy, Sun Pharma fall 2-3% as merger plans hit roadblock
Shares of Ranbaxy and Sun Pharma are under selling pressure as merger of both the companies are stuck in a legal roadblock . Both the stocks lost 2-3 percent intraday on Wednesday as Andhra Pradesh High Court has asked stock exchanges as well as Securities and Exchange Board of India to maintain an interim status-quo on the merger.
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