Market Overview
The key benchmark indices closed negative in a truncated week due to pressure
at higher level and weakness in the global markets. Weak macroeconomic data
and concerns about upcoming fiscal challenges for the United States weighed
on sentiment. Among sectoral indices Capital goods
, Oil & Gas and Metal indices
were the major loser this week. Going ahead, the upcoming winter session of
the parliament in India and fiscal-cliff negotiations in the US will dictate
trend on bourses in the near term.
Industry & Economy
The IIP for the month of September 2012 stands at 163.6, which is 0.4% lower
as compared to the level in the month of September 2011 due to dismal show
by manufacturing sector and decline in consumer as well as capital goods
output. However, it was 2.5 per cent in September last year. The industrial
production growth rate for August this year was revised downward to 2.3 per
cent from the earlier provisional estimates of 2.7 per cent released last month.
India's exports declined 1.63% to $23.24 billion in October 2012. Imports rose
7.37% to 44.20 billion in October 2012. Oil imports jumped 31.61% to $14.78
billion in October 2012. Non-oil imports declined 1.73% to $29.42 billion in
October 2012. The trade deficit surged to $20.96 billion in October 2012 from
$17.54 billion in October 2011. The trade deficit for April-October 2012 was
estimated at $110.21 billion, which was higher than the deficit of $106.80
billion April-October 2011
Weekly Corporate News
Tata Motors Ltd's global vehicle sales rose 6% in October from a year earlier,
with sales at its key Jaguar Land Rover subsidiary rising 7%, after falling in
September for the first time in 14 months. Tata Motors sold a total of 100,660
vehicles in October. Overall passenger car sales stood at 49,264 vehicles, down
5% from a year earlier.
DLF will issue fresh equity shares in the next fiscal to dilute promoters’ stake to
75% as per SEBI’s guidelines and will use the funds to cut debt.
Apollo Hospitals Enterprises Ltd is planning to invest around Rs 2,000 crore to
add 2,500 beds between 2013 and 2015. Currently it is in the process of adding
around 1,500 beds with an outlay of around Rs 2,000 crore and gearing up for
the next round.
HBL Power Systems Ltd posted a significant dip in its net profit at Rs 1.99 crore
for the second quarter ended September 30, 2012, against a profit of Rs 11.61
crore. its income from operations for the second quarter was however up
marginally at Rs 319.79 crore against Rs 287.30 crore for the corresponding
period last year.
Gayatri Projects Ltd has posted a net profit of Rs 12.92 crore for the second
quarter ended September 30, 2012 against Rs 13.36 crore in the corresponding
quarter last year.
Madhucon Projects Ltd has posted a lower net profit of Rs 4.95 crore for the
second quarter ended September 30, 2012, as against Rs 6.04 crore for the
corresponding quarter last year. The revenue for the second quarter was also
lower at Rs 318.80 crore as against Rs 416.04 crore for the corresponding
quarter last year.
Gitanjali Gems reported a marginal 2% increase in profits at Rs 151 crore in the
second quarter. The company posted a profit of Rs 148 crore in the year-ago
period. However, the revenues in the July-September quarter were up 32% at Rs
3,928 crore compared with Rs 3,384 crore in the corresponding quarter last
fiscal.
Hero group ties up with Canadian firm for electric bike batteries. The Canadian
company will work with Hero Eco to implement lithium ion-powered
electric bikes for Hero’s markets in worldwide.
The key benchmark indices closed negative in a truncated week due to pressure
at higher level and weakness in the global markets. Weak macroeconomic data
and concerns about upcoming fiscal challenges for the United States weighed
on sentiment. Among sectoral indices Capital goods
, Oil & Gas and Metal indices
were the major loser this week. Going ahead, the upcoming winter session of
the parliament in India and fiscal-cliff negotiations in the US will dictate
trend on bourses in the near term.
Industry & Economy
The IIP for the month of September 2012 stands at 163.6, which is 0.4% lower
as compared to the level in the month of September 2011 due to dismal show
by manufacturing sector and decline in consumer as well as capital goods
output. However, it was 2.5 per cent in September last year. The industrial
production growth rate for August this year was revised downward to 2.3 per
cent from the earlier provisional estimates of 2.7 per cent released last month.
India's exports declined 1.63% to $23.24 billion in October 2012. Imports rose
7.37% to 44.20 billion in October 2012. Oil imports jumped 31.61% to $14.78
billion in October 2012. Non-oil imports declined 1.73% to $29.42 billion in
October 2012. The trade deficit surged to $20.96 billion in October 2012 from
$17.54 billion in October 2011. The trade deficit for April-October 2012 was
estimated at $110.21 billion, which was higher than the deficit of $106.80
billion April-October 2011
Weekly Corporate News
Tata Motors Ltd's global vehicle sales rose 6% in October from a year earlier,
with sales at its key Jaguar Land Rover subsidiary rising 7%, after falling in
September for the first time in 14 months. Tata Motors sold a total of 100,660
vehicles in October. Overall passenger car sales stood at 49,264 vehicles, down
5% from a year earlier.
DLF will issue fresh equity shares in the next fiscal to dilute promoters’ stake to
75% as per SEBI’s guidelines and will use the funds to cut debt.
Apollo Hospitals Enterprises Ltd is planning to invest around Rs 2,000 crore to
add 2,500 beds between 2013 and 2015. Currently it is in the process of adding
around 1,500 beds with an outlay of around Rs 2,000 crore and gearing up for
the next round.
HBL Power Systems Ltd posted a significant dip in its net profit at Rs 1.99 crore
for the second quarter ended September 30, 2012, against a profit of Rs 11.61
crore. its income from operations for the second quarter was however up
marginally at Rs 319.79 crore against Rs 287.30 crore for the corresponding
period last year.
Gayatri Projects Ltd has posted a net profit of Rs 12.92 crore for the second
quarter ended September 30, 2012 against Rs 13.36 crore in the corresponding
quarter last year.
Madhucon Projects Ltd has posted a lower net profit of Rs 4.95 crore for the
second quarter ended September 30, 2012, as against Rs 6.04 crore for the
corresponding quarter last year. The revenue for the second quarter was also
lower at Rs 318.80 crore as against Rs 416.04 crore for the corresponding
quarter last year.
Gitanjali Gems reported a marginal 2% increase in profits at Rs 151 crore in the
second quarter. The company posted a profit of Rs 148 crore in the year-ago
period. However, the revenues in the July-September quarter were up 32% at Rs
3,928 crore compared with Rs 3,384 crore in the corresponding quarter last
fiscal.
Hero group ties up with Canadian firm for electric bike batteries. The Canadian
company will work with Hero Eco to implement lithium ion-powered
electric bikes for Hero’s markets in worldwide.
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