The savings in its employee costs and other expenses helped improve the profitability
The revenue from operations for the quarter under review was at Rs 945.35 crore as against Rs 968.51 crore recorded same period last year.
The Nifty PSU banking index jumped 3.66 percent led by Bank of India which zoomed over 9 percent intraday on the back of recovery of Rs 7,000 crore from other banks. Punjab National Bank was up 4.3 percent while Andhra Bank zoomed over 5 percent.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Sundaram Fasteners, BPCL and Capital First.
Interview with Gaurav Dua, Head of Research at Sharekhan .
Sundram Fasteners Limited, part of the USD six billion TVS Group, has recorded standalone profits up to Rs 87.66 crore for the fourth quarter, ending on March 31.
Ashwani Gujral of ashwanigujral.com recommends buying Avenue Supermart on dip with a target of Rs 850 while Capital First may hit Rs 900.
The Chennai-based suppliers of parts to the automotive and industrial segment had registered net profits at Rs 46.11 crore in the corresponding quarter of the previous year.
Govind Parikh of Govind Parikh Securities says selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says