10 headlines that kept Monday buzzing
Here's all the latest developments that made headlines on Monday.
August 12, 2013 / 18:27 IST
Here's all the latest developments that made headlines on Monday:
July IIP at -2.2% from -2.8% in June, CPI lower at 9.64%The Index of Industrial Production (IIP) contracted to 2.2 percent in the month of July versus a negative 2.8 percent in the month of June, indicating that the much-anticipated revival has not happened.
- Sensex up; Re breaches 61/$, midcap & smallcap outperformThe market pares gains in the last trading hour. The Sensex is up 147.37 points at 18936.71 while the Nifty is up 43.20 points at 5608.85. About 1443 shares have advanced, 796 shares declined, and 131 shares are unchanged.- Exports grows by 11.6% to $25.83 bn in JulyExports grew by 11.64 percent to USD 25.83 billion in July, snapping two consecutive months of decline, on the back of demand from Africa, Asean and Far East regions.
- June IIP at -1.3% may not move mkt significantly: CNBC-TV18CNBC-TV18’s poll threw up -1.3 (minus 1.3) percent for the IIP data which is hardly a pleasant number. Infact, that makes the entire April-May-June quarter to almost zero or -0.3 (minus 0.3) percent if one goes by the fact that there was a negative even in April.- SBI Q1 net falls 14% on higher provisions against bad loansIndia's largest lender State Bank of India ( SBI ) disappointed the street with the first quarter net profit falling higher-than-expected nearly 14 percent year-on-year to Rs 3,241 crore, dented by higher provisions against bad loans and muted growth in the net interest income, which grew just by 3.5 percent to Rs 11,512 crore in April-June quarter from Rs 11,119 crore.- Tech Mahindra Q1 net up 7.6% QoQ, up FII investment limitTech Mahindra , one of the largest software services exporters, matched the forecast with the first quarter consolidated net profit rising higher-than-expected 7.6 percent sequentially to Rs 686 crore on higher forex gain.- GVK's Q1 net loss halves on good show from airport bizGVK Power and Infra more than halved its losses to Rs 30 crore in Q1 (year-on-year) on better performance from airport segment and overall improvement in margins. The firm had posted Rs 64 crore loss in year-ago period.- Analysts raise Sun Pharma FY14 estimates post Q1 resultsSun Pharmaceuticals Industries shares surged over 8 percent on Monday after the street gave a big thumbs up to its first quarter earnings. Fortune Equity Brokers and Avendus Securities upgraded their rating and several other brokerages also raised their earnings estimates and target price on the generic drugs maker citing "strong" first quarter results.- Britannia Q1 cons net profit jumps 93% to Rs 90crBritannia Industries ' first quarter consolidated net profit jumped 93 percent year-on-year to Rs 90 crore, helped by uptick in sales and higher realisations, sending its shares surging to a 52-week high of Rs 773 on NSE.- Aurobindo Pharma up 8% on Q1 nos, injectable biz demergerAurobindo Pharma shares gained nearly 10 percent in initial trade Monday on strong Q1 earnings and demerger of injectable business. The pharmaceutical firm has turned profitable with first quarter consolidated net of Rs 18.6 crore as against loss of Rs 128.9 crore in a year ago period. Consolidated net sales jumped 42 percent Y-o-Y to Rs 1,699.6 crore during the quarter.- Domestic car sales down 7.4% in July: SIAMDomestic passenger car sales declined by 7.4 percent to 1,31,163 units in July this year from 1,41,646 units in the same month of 2012. Motorcycle sales too declined by 1.52 percent to 8,09,312 units in the last month, from 8,21,821 units in the same month previous year, the data released by the Society of Indian Automobile Manufacturers (SIAM) showed.
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