The market may extend recent losses on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 42 points at the opening bell. Asian stocks fell on Wednesday after China's leaders failed to outline steps to curb state dominance of the economy and amid bets the Federal Reserve may start reducing U.S. stimulus next month.
The domestic bourses will remain shut tomorrow, 14 November 2013, on account of Moharram.
Sun Pharmaceutical Industries, BPCL, Cipla, Coal India, Mahindra & Mahindra, ONGC, PTC India, Rural Electrification Corporation, State Bank of India and Tata Steel, among others will announce their June-September 2013 quarter results today, 13 November 2013.
Reliance Communications (RCom)'s consolidated net profit spurted 562% to Rs 675 crore on 3.7% growth in operating revenue to Rs 5394 crore in Q2 September 2013 over Q2 September 2012. The result was announced after market hours on Tuesday, 12 November 2013.
RCom's consolidated profit after tax (PAT) excluding provision write-back surged 129.4% to Rs 234 crore in Q2 September 2013 over Q2 September 2012. There was a provision write-back of Rs 441 crore in Q2 September 2013.
RCom's operating EBITDA (earnings before interest, taxation, depreciation and amortization) rose 15.2% to Rs 1887 crore in Q2 September 2013 over Q2 September 2012. Total EBITDA rose 42.1% to Rs 2328 crore.
RCom's revenue from India operations grew 5.4% to Rs 4624 crore in Q2 September 2013 over Q2 September 2012. EBITDA rose 15.1% to Rs 1640 crore.
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The company's revenue from global operations declined 0.3% to Rs 1139 crore in Q2 September 2013 over Q2 September 2012. EBITDA grew 15.5% to Rs 246 crore.
RCom said it has generated operational cash flow (EBITDA) of Rs 2328 crore in Q2 September 2013, paid net finance charges of Rs 676 crore and invested Rs 364 crore on capex during the quarter. It remains free cash flow (FCF) positive and this is expected to continue, the company said in a statement.
Reliance Capital's consolidated net profit jumped 201% to Rs 181 crore on 20% growth in total income to Rs 1869 crore in Q2 September 2013 over Q2 September 2012. The result was announced after market hours on Tuesday, 12 November 2013.
The consolidated profit after tax (PAT) in Q2 September 2013 is after excluding one-time capital gains on stake-sale in RCAM last year.
As on 30 September 2013, the networth of the company stood at Rs 12373 crore.
As on 30 September 2013, the total assets of Reliance Capital stood at Rs 41721 crore. The company has not raised any fixed deposits from the public.
Bosch's net profit rose 15.48% to Rs 234.25 crore on 3.66% growth in total income to Rs 2236.38 crore in Q3 September 2013 over Q3 September 2012. The result was announced after market hours on Tuesday, 12 November 2013.
ICRA at the fag end of trading hours on Tuesday, 12 November 2013 reported 16% growth in consolidated profit after tax (PAT) to Rs 15.57 crore on 19% growth in total income to Rs 75.01 crore in Q2 September 2013 over Q2 September 2012.
ICRA's consolidated operating revenue rose 12% to Rs 70.03 crore in Q2 September 2013 over Q2 September 2012.
Tata Global Beverages' consolidated net profit surged 51% to Rs 180 crore on 4% growth in income from operations to Rs 1933 crore in Q2 September 2013 over Q2 September 2012. The result was announced after market hours on Tuesday, 12 November 2013.
Tata Global Beverages attributed the topline growth in Q2 September 2013 to good performance in some key markets coupled with favourable foreign exchange impact. After considering exceptional items, group consolidated net profit is 51% higher than in the same period in the previous year, reflecting the favourable impact of exceptional items, the company said in a statement.
Mr. Harish Bhat, Managing Director and CEO, Tata Global Beverages said, "We continue to record steady growth in a challenging global operating environment. Notwithstanding differing economic conditions in various countries, our focus continues to be consistent investment in our brands of tea, coffee and water, to create millions of moments of beverage magic for our consumers. The significant brand re-launches and marketing campaigns of the quarter, ranging from Eight O'clock Coffee in the USA, to Tetley in the United Kingdom and Tata Tea in India are strong testimony to this commitment. In addition, the slew of restructuring moves and new business investments we have announced and implemented will help create a more efficient, growth-driven and future-focused organisation".
United Spirits (USL) said that the company has declared a lock out on Tuesday, 12 November 2013 at one of the ccmpany's bottling unit at Palakkad in Kerala. USL said it does not expect the lock out to have any material impact on the operations of the company.
Pidilite Industries after market hours on Tuesday, 12 November 2013 said it has on 11 November 2013 incorporated a subsidiary company in the name of "PERCEPT WATERPROOFING SERVICES" for the purpose of carrying on business of services relating to waterproofing including consultancy and project based services etc.
On macro front, Index of industrial production (IIP) rose 2% in September 2013, showing increase in growth from 0.4% growth recorded in August 2013. The entire growth in IIP was mainly driven by 12.9% surge in electricity generation in September 2013. The mining output also witness rise in output, while the manufacturing sector output showed a marginal rise in September 2013. The industrial production growth for the month of August 2013 has been revised downwards to 0.4% from 0.6% reported earlier, while the growth for the month of June 2013 has undergone final revision, registering growth of (-1.8%). The data was announced after market market hours on Tuesday.
The annual consumer price inflation quickened more than expected to 10.09% in October from 9.84% in September, driven by food prices, government data showed on Tuesday. Food prices for consumers last month rose 12.56% from a year earlier, faster than September's 11.44% rise.The data was announced after market market hours on Tuesday.
Key benchmark indices edged lower in what was a volatile trading session on Tuesday, 12 November 2013 as investors remained cautious ahead of consumer inflation and industrial output data, which are slated to be released by the government after market hours on that day. The S&P BSE Sensex was down 209.05 points or 1.02% to 20,281.91 on that day, its lowest level since 10 October 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 347.58 crore on Tuesday, 12 November 2013, as per provisional data from the stock exchanges.
Asian stocks fell on Wednesday after China's leaders failed to outline steps to curb state dominance of the economy and amid bets the Federal Reserve may start reducing U.S. stimulus next month. Key benchmark indices in China, Taiwan, Japan, South Korea, Singapore, Hong Kong and Indonesia shed 0.26% to 1.48%.
China elevated the role of markets while maintaining the state's dominance in the nation's economic strategy, seeking to balance finding new sources of growth with sustaining the Communist Party's grip on power. The nation will make markets "decisive" in allocating resources, according to yesterday's communique from the third full meeting, or plenum, of the party's 18th Central Committee in Beijing, which stopped short of unveiling detailed policy shifts. The state will remain "dominant" in the economy, indicating limits on reducing government involvement. China will set up a party panel to coordinate and supervise policies under the updated principles and more specific measures may follow in the coming weeks or months. The communique also announced the party's determination to draw a red line to protect the environment, after years of economic expansion have polluted China's soil, water and air. China will also reform its judicial system to protect people's rights, it said.
US stocks fell on Tuesday, with the Dow Jones Industrial Average retreating from a record, as corporate earnings and an improving economy fueled speculation the Federal Reserve will reduce stimulus next month.
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