The market may extend recent gains on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 34 points at the opening bell. Asian Paints and Axis Bank announce Q1 results today, 22 July 2014.
HDFC Bank after market hours on Monday, 21 July 2014, clarified that there is no proposal for the merger of HDFC Bank and HDFC after media reports suggested that there is a buzz of a possible merger between the two.
Idea Cellular after market hours on Monday, 21 July 2014 reported 57.37% rise in consolidated net profit to Rs 728.20 crore on 15.63% rise in total revenue to Rs 7560.99 crore in Q1 June 2014 over Q1 June 2013. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin improved to 33.2% in Q1 June 2014 from 31.8% in Q1 June 2013.
Idea Cellular reported 23.47% rise in consolidated net profit to Rs 728.20 crore on 7.34% rise in total revenue to Rs 7560.99 crore in Q1 June 2014 over Q4 March 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin improved to 33.2% in Q1 June 2014 from 31.7% in Q4 March 2014.
Idea Cellular carried 165.2 billion minutes on its network , registering 12.2% growth in Q1 June 2014 over Q1 June 2013 and 32.5 billion Megabytes of Mobile Data on its 2G+3G platform, registering growth of 136% in Q1 June 2014 over Q1 June 2013.
The higher voice rate realization and jump in Data contribution to 11.5% of service revenue helped improve 'Average Realisation per Minute' (ARPM) by 1.5 paisa from 43.6p in Q4 March 2014 to 45.1p in Q1 June 2014. The Value Added Services (VAS) contribution has improved sharply to 17.8% of overall service revenue, Idea Cellular said.
Brand Idea continued its subscriber growth momentum with 3.2 million net new customer additions, now servicing 139 million quality base as 'Average Revenue Per User' (ARPU) improved to Rs 181 in Q1 June 2014 from Rs 173 in Q4 March FY14 and MoU/Subscriber increased to 401 minute in Q1 June 2014 from 397 minute in Q4 March 2014.
Average Realisation per MB (ARMB) data rate improvement by 1 paisa to 26.3p in Q1 June 2014 from 25.3p in Q4 March 2014.
The strong consumer demand & brand affinity, expanding network footprint & spectrum portfolio and steady Cash flows from operations reaffirms Idea ability to deliver consistent, competitive, responsible and profitable growth. The company is well geared to meet all volatile, uncertain, complex and ambiguous developments and remain on course of its mission to improve its market standing both in Mobile voice and data business, Idea Cellular said.
With additional capital infusion of Rs 3000 crore from the qualified institutional placement of equity shares in June 2014 and cash profit of Rs 2023 crore in Q1 June 2014, the company has reduced its net debt by Rs 5208.70 crore. The net debt to annualized EBITDA ratio now stands at 1.54, providing the company sufficient headroom to participate in the forthcoming spectrum auction.
Telecom stocks will be in focus as Telecom Regulatory Authority of India (TRAI) has on Monday, 21 July 2014, in its response to the Department of Telecommunications (DoT) on additional entry fee, performance bank guarantee (PBG) and financial bank guarantee (FBG) to be charged from the existing Mobile Number Portability licensees for enhancement of scope of their licence recommended no change in the entry fee for MNP service providers for implementing Full Mobile Number Portability and that the performance bank guarantee and financial bank guarantee for the MNP service providers should be continued as per the existing licence conditions.
Exide Industries after market hours on Monday, 21 July 2014 reported 16.68% rise in net profit to Rs 185.30 crore on 17.41% rise in net sales to Rs 1909.61 crore in Q1 June 2014 over Q1 June 2013.
MD & CEO P K Kataky said that though demand for both Automotive and Industrial battery remained subdued during Q1 June 2014, improvement in Automotive Replacement battery sale accompanied by robust growth in inverter battery sale for both Automotive and industrial SBU along with re-entry into Telecom business helped improving performance. The company continues to focus on cost control and technology upgradation to improve profit, Exide Industries said.
Indoco Remedies after market hours on Monday, 21 July 2014 said that based on the inspection carried out by the USFDA in August 2013, the company has received Establishment Inspection Report (EIR) approving the company's sterile manufacturing facility (Plant II) and solid dosage manufacturing facility (Plant III) located in Verna, Goa.
Helios and Matheson Information Technology after market hours on Monday, 21 July 2014 said that a meeting of the board of directors of the company will be held on 25 July 2014, to consider raising of long term funds through issue of FCCBs, GDRs and issue of equity related securities to Qualified Institutional Buyers in accordance with existing statutory guidelines and increase of authorized share capital (and consequent amendment to Memorandum and Articles of Association), subject to approval of members to be obtained through postal ballot exercise.
Indian stocks eked out small gains on Monday, 21 July 2014, as monsoon rains picked up last week. The S&P BSE Sensex garnered 73.61 points or 0.29% to settle at 25,715.17 on that day, its highest closing level since 7 July 2014.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 161.17 crore on Monday, 21 July 2014, as per provisional data from the stock exchanges.
Asian stocks rose today, 22 July 2014. Key benchmark indices in Hong Kong, South Korea, China, Indonesia, Japan, and Taiwan rose by 0.18% to 1.13%. Singapore's Straits Times fell 0.02%.
US stocks declined on Monday, 21 July 2014, as investors hit the pause button after Friday's sharp gains.
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