India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details �� ��
Corporate News and Developments:
· Reliance Communications has raised $255 million (about Rs 1,155 crore) by way of external commercial borrowing to partly refinance payments made for acquiring 3G, or third generation, spectrum.
· TULIP Telecom plans to sell 20-30% in its subsidiary Tulip Data Center for 300 crore to a private equity investor, Investment bank Nomura is being consulted on the deal.
· Exide Industries dipped 11% with the country’s largest automobile and industrial battery maker reporting a decline in net profit for the quarter to December, 2010, which is the lowest in the past three quarters. The company saw a 5% drop in net profit at Rs 124.4 crore in the third quarter over the earlier corresponding period. Lower profit comes despite a 18% rise in the company’s October-December gross earnings at 1280.4 crore in Q3 of 2010-11.
· NIIT Technologies posted a 35% growth in net profit for the quarter ended December 2010 at Rs 48 crore. The company’s sales stood at Rs 301 crore for the quarter. Margins, however, dipped to 20.7% from 22% last year .
· MindTree’s net profit for the quarter ended December fell 43.3% from a year ago, raising concerns about the company’s ambition of becoming a billion dollar business by 2014. MindTree, which counts Microsoft and Unilever among its top customers, said the third quarter net profit increased 34.6%.
· Petronet LNG, the nation’s largest importer of liquefied natural gas, reported more than doubling of its net profit to about Rs 171 crore in the quarter to December 31, 2010 on the back of higher gas imports. Net profit in the October-December quarter stood at Rs 170.8 crore, compared with Rs 83.2 crore a year ago.
· Higher gas trading and transmission margins have helped GAIL (India) Ltd report a 13 % increase in net profit for the third quarter of the current fiscal. GAIL has registered a net profit of Rs 968 crore as against Rs 860 crore in the corresponding quarter last fiscal.
No comments:
Post a Comment