Results today: HCL Tech, Infotech Enterprise, Sonata Software, Sadbhav Engineering, ING VYsya Bank, Yes Bank
Automobile Corporation of Goa Q4 FY11 (cr - crore, vs - versus) -Revenue up 5.5% at Rs 80.6 cr vs Rs 76.4 cr -NPAT up 17.8% at Rs 5.3 cr vs Rs 4.5 cr -Expenditure down 2.2% at Rs 74.6 cr vs Rs 76.3 cr -EBITDA up 7 times at Rs 9.5 cr vs Rs 1.2 cr -EBITDA Margin at 12% vs 2% FY11 -Revenue up 59% at Rs 370 cr vs Rs 233 cr -Net Profit at Rs 27.3 cr vs net loss of Rs 2.1 cr -Results boosted on back of jump in sales, no extra-ordinary
Indo Asian Fusegear FY11 (results not comparable) -Revenue down 47.4% at Rs 120.6 cr vs Rs 228.6 cr -Expenditure down 19.6% at Rs 176.5 cr vs Rs 219.4 cr -Net Loss at Rs 51.1 cr vs net profit Rs 2.9 cr -The company sold switchgear business to Legrand for Rs 530 crore ((didn't pay anything to shareholders))
R S Software Q4 FY11 Consolidated -Revenue up 35% at Rs 53 cr vs Rs 39.2 cr -NPAT at Rs 6.9 cr vs Rs 2.9 cr -EBITDA margin 18% vs 12%
Elantas Beck Q4 FY11 -Revenue up 12.7% at Rs 68.1 cr vs Rs 60.4 cr -NPAT down 11% at Rs 8.1 cr vs Rs 9.1 cr -Expenditure up 20.6% at Rs 58.5 cr vs Rs 48.5 cr -EBITDA margin 16% vs 22%
PFC Q4 -Net sales at Rs 2,617.35 cr vs Rs 2,079.95 cr (YoY) -Net profit at Rs 606.75 cr vs Rs 598.80 cr (YoY) ((RBS says numbers below expectations, but maintains Buy))
Container Corporation Q4 -Net profit at Rs 201.37 cr vs Rs 172.27 cr -Total Income at Rs 1047 cr vs Rs 988 cr
Vedanta Says - Sesa Goa acquired 10.4% in Cairn India at Rs 331/share -Acquisition in addition to open offer launched by Sesa -Sesa Goa open offer continue as per terms -Vedanta looks forward to completion of Cairn India acquisition -Govt nod needed for deal closure -Have not started talks on board representation with Cairn -We did not want to buy Petronas's entire 14.98% stake
Cairn block deal: Merrill Lynch buys 3.94 crore shares ((Bankers)), Broad Peak Mauritius buys 1.2 crore shares ((Broad Peak is a hedge fund set up by former Goldman Sachs executive Hyder Ahmed. They also bought Tata Motors DVR last year))
Brokerage views -Citi ups Zee Entertainment target to Rs 145 from Rs 123 -JPMorgan ups Zee Ent target to Rs 145 from Rs 125 -Morgan Stanley ups Zee Ent target to Rs 160 from Rs 141 -Goldman ups Zee Ent target to Rs 135 from Rs 129 -Credit Suisse cuts Lupin target to Rs 480 from Rs 500 -Macquarie ups IDBI Bank target to Rs 130 from Rs 120
Tata Steel says -To raise around Rs 3,500 crore in May 2011 -Money to be raised by issuing corporate hybrid sec overseas -Proceeds to be used to part fund expansion & reduce debt
Bribe For Loans -Case against Venkoba Gujjal, DGM Of PNB -CBI registers case against portfolio financial service -CBI files fresh case against CMD Temptations Food V Kumar
Vesuvius India Q1 -Net profit at Rs 13 cr vs Rs 10.2 cr -Net sales at Rs 119.7 cr vs Rs 99.3 cr
Other stocks and sectors that are in news today: -Final desicion on bail plea of Vinod Goenka, Sanjay Chandra, Gautam Doshi and 2 other ADAG executives to be taken by the trial court today at 10 -Yesterday Rediff ADR was up 18% and Makemytrip was up some 8%. US Travel company ConcurTech is investing USD 40 million in cleartrip.com and Yatra is raising Rs 200 crore from Valiant, Norwest and Intel Cap. The only listed internet stock in India is Infoedge - Hero Honda goes ex-dividend today (Rs 70) - State Bank Of India ups BPLR by 25 bps to 13.25%, ups base rate by 25 bps to 8.5% -F&O Ban: Deccan Chronicle, Kingfisher, Orchid Chemicals, Videocon Ind -Board of Fame India approves rights issue of shares at Rs 90 crore with an undisclosed price band -Block deal: Morgan Stanley buys 4.4 lakh shares of Kanoria Chemical at Rs 54/sh -Paramount Printpackaging IPO of 1.3 crore shares in the price range of Rs 32-35 opens today - Tata Motors enters into a tie-up with State Bank of India for channel financing & to provide loan to dealers -ICICI Bank ups Twilight Litaka stake to 7.05% via pledged shares -Muthoot Finance IPO closes for QIBs today, QIB portion subscribed 0.31x till now -US FDA recalls Lupin's cholesterol lowering drug perindopril for not meeting specifications over time (ET) -Promoter of Hero Honda , Hero Investments Private Ltd, has pledged further shares of the company to IL & FS trust raising around Rs 900 crore (BS) -Miglanis, Promoters of Uttam Galva are close to acquiring Lloyds Steel (BS) - Reliance Infra in talks with ICICI Bank for a Rs 2000 crore loan comprising $ 250 million of ECB's & the balance rupee loan (BS) -Gujarat to raise the price of genetically modified (Bt) seeds which will generate an additional income of Rs 130 crore to seed companies (BS) -Coal Ministry has demanded changes against royalty linked compensation where companies have to pay an equal amount to the residents if the royalty paid is higher than -26% of their profits (BS) -Radhakishan Damani sells 30,000 shares of P&G at Rs 1965/sh, sells 35,000 shares of Gillette at Rs 1885/sh ((The buyer is same, an investment firm, so looks like a transfer))
