The market may edge higher in early trade on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 31 points at the opening bell. HDFC, HDFC Bank and Idea Cellular announce Q1 results today, 21 July 2014.
Reliance Industries (RIL) announced on Saturday, 19 July 2014, that consolidated net profit rose 13.7% to Rs 5957 crore on 7.2% rise in revenues to Rs 1.07 lakh crore in Q1 June 2014 over Q1 June 2013. RIL's gross refining margin stood at $8.7 per barrel in Q1 June 2014 as against $8.4 per barrel in Q1 June 2013 and $9.3 per barrel in Q4 March 2014.
RIL attributed the increase in top line during the quarter to higher prices. Operating profit before other income and depreciation rose 14.4% to Rs 8989 crore in Q1 June 2014 over Q1 June 2013, due to higher contribution from refinery, petrochemicals and oil and gas business, RIL said in a statement.
RIL's other income declined 17.47% to Rs 1974 crore in Q1 June 2014 over Q1 June 2013.
RIL's outstanding debt as on 30 June 2014 was at Rs 135769 crore as against Rs 138761 crore as on 31 March 2014. The company had cash and cash equivalents of Rs 81559 crore. These were in bank deposits, mutual funds, CDs and Government secutities/bonds, RIL said in a statement.
UltraTech Cement's consolidated net profit fell 5.9% to Rs 626.92 crore on 14.65% rise in total income to Rs 6247.33 crore in Q1 June 2014 over Q1 June 2013. The result was announced on Saturday, 19 July 2014
The figures for Q1 June 2014 include those of the Gujarat units of Jaypee Cement Corporation from 12 June 2014, and are therefore not strictly comparable with the previous years figures, UltraTech Cement said in a statement.
UltraTech Cement said that the company's on-going capex are on track. The total power capacity of the company (including WHRS) currently stands at 709 MW. This caters to around 80% of the company's power requirement, the company said in a statement.
UltraTech Cement said that cement demand is slated to grow around 7-8%, with expected double digit growth in the second half of the current fiscal. The key value drivers will be renewed government focus on housing and infrastructure spending, the company said in a statement.
Wipro turns ex-dividend today, 21 July 2014, for final dividend of Rs 5 per share for the year ended 31 March 2014 (FY 2014).
Lupin turns ex-dividend today, 21 July 2014, for final dividend of Rs 3 per share for the year ended 31 March 2014 (FY 2014).
Kotak Mahindra Bank said before market hours that the bank on 20 July 2014 has entered into a Share Purchase Agreement to purchase 76.49 lakh shares aggregating to 15% equity stake in Multi Commodity Exchange of India, from Financial Technologies (India), for a consideration of Rs 459 crore. The final closing is subject to certain conditions to be fulfilled including regulatory approvals.
Hindalco Industries' board of directors at its meeting held on Friday, 18 July 2014, approved raising of funds for an amount not exceeding Rs 5000 crore through issuance of securities including equity shares or equity linked securities, including through a qualified institutions placement and/or issuance of equity shares through convertible bonds, depository receipts and/or any other instrument convertible or exchangeable into equity shares, and/or other securities with or without warrants, to eligible investors subject to the approval of the members of the company. The company has called a meeting of the members of the company on 14 August 2014 to approve the aforesaid.
Reliance Power (RPower)'s consolidated net profit rose 1.66% to Rs 244 crore on 56.09% growth in operating revenue to Rs 1753 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Friday, 18 July 2014.
RPower said that the construction work is in full swing for the remaining one unit of the Sasan ultra mega power project (UMPP) and is on track to be commissioned in the current year.
The 100 megawatts (MW) concentrated solar power (CSP) project in Dhursar, Rajasthan is in advanced stage of commissioning, RPower said. This will be the largest CSP plant to be commissioned under the government's National Solar Mission, RPower said in a statement.
Reliance Infrastructure's consolidated net profit rose 10% to Rs 458 crore on 20.84% decline in total income to Rs 4548 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Friday, 18 July 2014.
As on 30 June 2014, the consolidated networth of the company stood at Rs 27574 crore and is conservatively financed with debt to equity of 0.94x.
CRISIL's consolidated net profit declined 4.44% to Rs 57.83 crore on 14.8% growth in income from operations to Rs 305.13 crore in Q2 June 2014 over Q2 June 2013. The result was announced after market hours on Friday, 18 July 2014.
CRISIL attributed the decline in bottom line during the quarter to adverse foreign exchange movement.
CRISIL said that the overall operating environment both in India and globally was challenging with mild signs of recovery in the second quarter of 2014.
The business environment for Ratings continued to be subdued during the quarter with limited activity in the bond markets and in securitisation, CRISIL said. Despite the environment, Ratings' segment revenue rose 10.8% over the corresponding quarter of the previous year, driven by strong growth in small and medium enterprise and bank loan ratings, it added. The expected improvement in the policy and business environment should lead to a pick-up in fund raising activity, CRISIL said in a statement.
CRISIL Global Research and Analytics (GR&A) registered a healthy growth in the quarter. Coalition witnessed strong growth in revenues from products launched over the last year, the company said. The quarter saw significant client additions for model validation, stress testing, and comprehensive capital analysis review (CCAR) support to global banks, CRISIL said. Also, the additions of buy-side clients contributed to growth during the quarter, it added. However, the global banking industry continues to remain stressed with renewed focus on cost management and recovery of industry, CRISIL said in a statement.
The India research business witnessed moderate growth as the slowdown in investments and profitability pressures on clients continued in this quarter, CRISIL said in a statement.
CRISIL Risk and Infrastructure Solutions (CRIS), a wholly owned subsidiary of CRISIL maintained growth momentum by continuing to build a strong order book during the quarter, the company said. Both the infrastructure advisory and the risk solutions businesses won prestigious mandates in India and abroad, CRISIL said in a statement.
CRISIL's board of directors at its meeting held on Friday, 18 July 2014, declared payment of second interim dividend of Rs 3 per share for the financial year ending 31 December 2014.
Union Minister of State (MoS) Science and Technology (Independent Charge), Earth Sciences (Independent Charge), MoS in Prime Minister's Office (PMO), Department of Personnel and Training, Atomic Energy, Space and Earth Sciences, Dr. Jitendra Singh said on Sunday, 20 July 2014, that there has been significant increase in the monsoon during the last one week beginning from 13th July, recording 11% increase in the monsoon country-wide. During the month of June and first two weeks of July, the monsoon was deficient by 43%, in the week beginning 13 July 2014, the deficiency was only 32%, thus, recording an improvement of 11% in the monsoon level.
Fall in world stocks on rising geopolitical tension after news on Thursday, 17 July 2014 of a downed Malaysian airlines jet at the Ukraine-Russia border capped gains on the domestic bourses on Friday, 18 July 2014. The S&P BSE Sensex was up 80.40 points or 0.31% to 25,641.56 on that day, its highest closing level since 7 July 2014.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 574.47 crore on Friday, 18 July 2014, as per provisional data from the stock exchanges.
Asian stocks rose today, 21 July 2014, joining a global rebound after the downing of a passenger jet in Ukraine and Israel's invasion of Gaza affected investor sentiment adversely in the recent past. Key benchmark indices in Indonesia, Hong Kong, Taiwan, Singapore, and South Korea rose by 0.02% to 0.58%. China's Shanghai Composite fell 0.31%.
US stocks rose on Friday, 18 July 2014, where better earnings from Google Inc., the world's third-largest company, refocused investors on economic growth amid crises in the Middle East and Ukraine.
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