The benchmark Nifty remained positive for the second consecutive session after Wednesday’s sell-off. This may be on the back of short covering and positive global cues, which eased after IMF promised to increase the Euro 45 billion aid package for Greece to as much as Euro 120 billion over three years. Asian markets closed positive; [...]
Dheeraj Insignia is located in Bandra East, close to the Bandra Kurla complex (BKC), a business hub in Mumbai Kotak Realty Fund, the real estate-focused private equity (PE) arm of Kotak Mahindra Group, has invested Rs150 crore in Dheeraj Insignia, a residential project launched by Dheeraj Realty in Mumbai, said a top official at Kotak [...]
Most of the tax saving instruments that fall under Section 80C is saving oriented with returns after adjusting for inflation. The exceptions are the ULIPs (Life and pension funds) and the ELSS (Equity linked savings scheme) mutual funds. The basic advantage of opting for ELSS as compared to the ULIPs is the frequency—mostly a single [...]
Petronet LNG has reported disappointing set of Q4FY10 and FY10 results which are below our estimates both on the revenues and profitability front. During the quarter it handled lower spot volumes due to supplies from KG basin. Due to 3% downside potential we downgrade PLNG to REDUCE with unchanged price target of Rs80
Aventis Pharma (Aventis) announced its 1QCY2010 results which were below our expectation. Net Sales came in at Rs251.4 crore up 9.8% driven by domestic sales, which grew by 11.1% to Rs197.2cr (Rs 177.5cr) (excluding Rabipur, domestic sales growth came in at 21.7%); however, export sales de-grew by 5.9% to Rs54.2 crore. On the Operating front, [...]
Allied Digital Services Ltd (ADSL)’s Q4FY2010 net profit of Rs31 crore was marginally ahead of our estimate mainly on the account of a higher than expected margin and a lower than anticipated effective tax rate. ADSL’s Q4FY2010 net sales grew by 8.1% sequentially to Rs193.4 crore, which was marginally above our estimate of Rs189.6 crore. [...]
Power Finance Corporation sanction and disbursement growth remained healthy during 4QFY10, advances book grew by 24% y-o-y to Rs798.6bn for FY10. Core performance was slightly lower than our expectation; impacted by repricing of assets at relatively lower rates. They have strong net profit growth of 53% y-o-y and 6.6% q-o-q, better than our expectation; previous year [...]
Core earnings remained strong; concern on asset quality to wane after 32% decline in restructured book at the end of moratorium. Net interest income (NII) grew at a robust pace of 39.9% y-o-y on back of healthy asset growth along with improvement in the margin from 3.34% in Q4FY09 to 3.88% in Q4FY10. Net profit [...]
In Q4FY2010 Mahindra Lifespace Developers (MLD) has reported a stand-alone net profit of Rs23.7 crore (up 68% year on year [yoy]), which is in line with our expectation. The revenues grew by a robust 223.4% to Rs101 crore. The stupendous revenue growth was achieved mainly on account of a low base effect as Q4FY2009 was [...]
Suven Life Sciences is currently trading at Rs 32.20, up by 0.75 points or 2.38% from its previous closing of Rs 31.45 on the BSE. The scrip opened at Rs. 31.60 and has touched a high and low of Rs. 32.45 and Rs. 31.60 respectively. So far 4900 shares were traded on the counter. The [...]
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