Here are stocks that are in news today:
Results Today: Reliance Infrastructure, Reliance Power, IDFC, Bank of India, Aban offshore, ABB, Aurobindo Pharma, Hindustan Copper, United Breweries, Aptech, Opto Circuits, Welspun India, Godrej industries, Monnet Ispat, Firstsource Solutions, Kernex Microsystems, J Kumar Infra, BOSCH, Kavveri telecom, Nitin Fire Protection Ind, Hercules Hoists, Finolex Cables, Morepen Lab, BF Investment, Pidilite Ind
Oil Ministry says
-Revisiting prices of fuel hike left to UPA leadership
-'I have reduced excise & custom duty'
-Asking the state governments to reduce VAT
-Can absorb price hike if Finance Ministry reimburses oil companies' losses
-If rupee appreciates significantly will announce oil price cut
-Mamata Banerjee is a respected leader; UPA has take a decision
HPCL says
-Not heard from govt on potential rollback of petrol price hike
-Will reduce prices on own if there is over-recovery
-Still have 0.2 paise under recovery so can't reduce prices
IOC says
-OMCs have suffered losses of` Rs 2,300 crore in FY11
-OMCs have suffered losses of Rs 2,500 crore this year
-Cannot keep absorbing losses
-Better to pass on costs than reduce production
-Will decrease prices as soon as global oil prices come down
SBI Chairman, Pratip Chaudhuri says:
-Govt has put aside Rs 4000 crore for us
-Rights issue has not been ruled out
Other stocks and sectors that are in news today:
- Jaiprakash Associates to mull restructuring of cement operations by November 14
-Aviation minister agrees to ease FDI norms; foreign carriers may get to pick 24% stake in domestic airlines (FE)
- ONGC board clears Petronet stake buy (Agencies)
- Reliance Power ties up Rs 525 crore loans for its 40 mw solar project in Rajasthan
- Glenmark gets over Rs 24 crore payment from Sanofi on completing the 1st phase of molecule study
-Goa miners fear a Karnataka like crisis; even as govt may not favour blanket ban (BS)
- GMR Infra set to bag Rs 1500 crore Andhra highway project (BS)
-Gemini Communications announces buy back at maximum Rs 45/share (CMP: 21.65)
- SpiceJet board to meet on November 11 to decide on USD 450 million aircraft order (Mint)
- Balaji Amines to invest Rs 70 crore in Solapur unit expansion (BL)
-Kerala govt reduces surcharge of 34 paise on fuel prices
Anand Sinha deputy governor RBI says:
-Transition to Basel-III will be smooth
-To issue draft Basel-III norms by December 31
-Hope to finalise Basel-III norms by March end
-Savings Bank Rate deregulation can shrink banks' margins
-Banks' NPAs rising but don't see any systemic risks
-Slippages in banks higher than recoveries
-Need to have more fixed rate products in banking industry
-10 action products agreed under Damodaran committee
-Products agreed upon in Damodaran Committee should be taken forward
-Banks to gear up for comp due to new bank licences
-Asset liability mismatches due to infra finance will affect banks
ONGC Q2
-Net profit at Rs 8,642 cr vs Rs 5,389 cr (YoY)
-Net sales at Rs 22,616 cr vs Rs 18,194 cr (YoY)
-Total costs at Rs 11,735 cr vs Rs 11,508 cr (YoY)
-Other income at Rs 1,133 cr vs Rs 906 cr (YoY)
-Subsidy at Rs 5,713 cr vs Rs 3,019 cr (YoY)
-Net realisation at USD 83.70/bbl vs USD 62.75/bbl (YoY)
-Gross realisation at USD 116.94/bbl vs USD 79.21/bbl (YoY)
ONGC says
-Q2 profit down by Rs 3,300 cr on revenue loss burden
-Made 3 new discoveries in Q2
-Made 1 more hydrocarbon discovery in October
Jain Irrigation Q2
-Net profit at Rs 11.5 cr vs Rs 61.9 cr (YoY)
-Total income at Rs 771.3 cr vs Rs 641.7 cr (YoY)
Nestle India Q3
-Net profit at Rs 261 cr vs Rs 218 cr (YoY)
-Net sales at Rs 1,963 cr vs Rs 1,637 cr (YoY)
GSK Pharma Q3
-Net profit at Rs 146 cr vs Rs 158 cr (YoY)
-Net sales at Rs 607 cr vs Rs 582 cr (YoY)
Apollo Hospitals Q2:
-Net profit at Rs 55.8 cr vs Rs 49.5 cr (YoY)
-Income from services at Rs 699 cr vs Rs 586.4 cr (YoY)
