Automobile and cement stocks will be focus as companies from these two sector start unveil monthly sales volume data for July 2012 from today, 1 August 2012.
Cipla said after market hours on Tuesday that profit after tax rose 58.2% to Rs 400.76 crore on 23.8% rise in total income to Rs 2011.25 crore in Q1 June 2012 over Q1 June 2011. The company said income from operations crossed Rs 2000 crore for the quarter and posted a growth of about 24%. Domestic sales grew by more than 30% and export sales grew by about 18%. Operating margins and profits after tax have increased by more than 47% and 58% respectively.
Material cost has decreased by 5% mainly on account of changes in product mix viz. lower proportion of anti-retrovirals and higher contribution of anti-depressant segment (Escitalopram) coupled with increased realizations. As a result, operating margins have also increased by about 5%. The increase in staff cost (Rs 42 crore) is due to annual increments and increase in manpower. Other expenditure has increased by Rs 91 crore for the quarter on account of increase in marketing expenses, professional fees, travel expenditure, etc. Tax for the current quarter has marginally increased due to higher profits.
Jaiprakash Associates said after market hours on Tuesday that net profit fell 24.6% to Rs 138.84 crore on 3.3% rise in total income to Rs 3037.60 crore in Q1 June 2012 over Q1 June 2011.
The Coal India board has reportedly agreed to the import and price pooling agreement, as well as agreed to go ahead with the 80% trigger level for their fuel supply agreements.
Maruti Suzuki India said it is roping in psychologists and psychiatrists for counselling its employees, who were injured in the 18 July 2012 violence at the Manesar plant. The employee welfare team set up last week is quickly assessing individual needs with the help of 'specialists on board' to conduct individual/group therapy session for the injured.
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Shares of auto components makers may be under pressure on the domino effect of the ongoing lockout and production uncertainty at Maruti Suzuki's Manesar plant in Haryana. On Tuesday, ICRA, put the ratings of 14 of Maruti's auto component suppliers on watch list, usually the first step towards a downgrade. The companies include auto component majors like Subros, Lumax Industries and Jay Bharat Maruti. These auto parts makers have a high revenue dependence on Maruti's Manesar plant "may experience lower cash accruals" and in some cases possible "stress" on their liquidity position during the lockout, prompting the agency to place their ratings under "watch with developing implications", the report added.
Telecom stocks may be in action on reports the law ministry has said the telecom department can initiate action, including terminating mobile permits of Bharti Airtel, Idea Cellular and the unlisted Vodafone, for allegedly violating licence conditions and entering into bilateral roaming agreements in areas where they did not have 3G permits. At the same time, the law ministry has also said the government cannot impose financial penalties on mobile phone companies for entering into 3G roaming agreements.
ACC turns ex-dividend today, 1 August 2012, for interim dividend of Rs 11 per share for the year ending 31 December 2012. Cipla turns ex-dividend today, 1 August 2012, for dividend of Rs 2 per share for the year ending 31 March 2012. Nestle India turns ex-dividend today, 1 August 2012, for interim dividend of Rs 18 per share for the year ending 31 December 2012.
IDBI Bank said after market hours on Tuesday that net profit rose 27.5% to Rs 427.34 crore on 12% rise in total income to Rs 6786.81 crore in Q1 June 2012 over Q1 June 2011.
Gujarat Mineral Development Corporation said after market hours on Tuesday that net profit rose 11.4% to Rs 170.52 crore on 7.9% rise in total income to Rs 516.24 crore in Q1 June 2012 over Q1 June 2011.
Godfrey Phillips India said after market hours on Tuesday that net profit fell 55.1% to Rs 28.03 crore on 11% rise in total income to Rs 488.99 crore in Q1 June 2012 over Q1 June 2011.
Hindustan Oil Exploration Company said after market hours on Tuesday that net profit fell 91.3% to Rs 1.48 crore on 54.1% fall in total income to Rs 29.79 crore in Q1 June 2012 over Q1 June 2011.
Bhushan Steel said after market hours on Tuesday that net profit fell 1.9% to Rs 205.97 crore on 27.1% rise in total income to Rs 2845.91 crore in Q1 June 2012 over Q1 June 2011.
Radico Khaitan said after market hours on Tuesday that net profit rose 1.8% to Rs 21.12 crore on 3.1% rise in total income to Rs 309.99 crore in Q1 June 2012 over Q1 June 2011.
Gujarat Flourochemicals said after market hours on Tuesday that net profit fell 0.1% to Rs 159.45 crore on 15.7% rise in total income to Rs 599.09 crore in Q1 June 2012 over Q1 June 2011.
The Orissa Minerals Development Company said that "Ministry of Steel vide its letter dated 26 July 2012 informed that in continuation of Ministry's letter of even number dated 23 July 2012, the proposal had been approved by the Ministry of Steel and forwarded to the company for initiating necessary action related to the issue of a 10-for-1 stock split. The above mentioned item may be placed at the ensuing board meeting of OMDC for consideration, the company added.
Glodyne Technoserve said the company is running its operations in the normal course of business and bidding for various new projects in reaction to unusual price volatility in the past few days which has raised investor concerns. In reaction to investor queries/rumours on the AGM postponement (earlier informed by the company to the Exchanges), the company informed that the Annual General Meeting (AGM) was postponed due to non availability of two independent directors based out of UK, in view of their attendance at the London Olympics and also approval of the term lenders was pending for the dividend declaration and it had not come within time.
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