Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 18 April 2013. IndusInd Bank announces Q2 results today, 18 April 2013. Asian stocks were slightly higher.
IT major TCS after trading hours on Wednesday, 17 April 2013, said its consolidated net profit rose 1.9% to Rs 3616 crore on 2.2% growth in revenue to Rs 16430 crore in Q4 March 2013 over Q3 December 2012. The company clocked volume growth of 4.4% on sequential basis in the fourth quarter.
Net profit jumped 33.6% to Rs 13917 crore on 28.8% growth in revenue to Rs 62989 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). The company clocked volume growth of 16.8% in FY 2013 over FY 2012.
TCS said there was balanced growth across markets and industries in FY 2013. All industry verticals grew in double digits in FY 2013, it said. TCS' full service capabilities continue to be leveraged by customers with new service lines growing at a fast pace. The infrastructure services segment grew 47%, Business Process Outsourcing grew 46% while Assurance Services, Enterprise Solutions and Global Consulting grew by 33%, 25% and 52% respectively, TCS said.
Commenting on the FY 2013 results, Mr. N. Chandrasekaran, CEO and MD, TCS, said: "TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and growth."
With regard to the outlook for the current year ending 31 March 2014 (FY 2014), Mr. Chandrasekaran said: "We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in reimagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their business growth. As an industry leader, we remain focused on sustaining our momentum."
Rajesh Gopinathan, Chief Financial Officer, TCS, said: "Our growth has been well-rounded in FY 2013 and we have endeavored to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth."
Puravankara Projects' consolidated net profit jumped 71% to Rs 79 crore on 79% growth in revenue to Rs 416 crore in Q4 March 2013 over Q4 March 2012. Earnings before interest, taxation, depreciation and amortization (EBITDA) jumped 49% to Rs 178 crore in Q4 March 2013 over Q4 March 2012. The company said no land parcel was monetized in Q4 March 2013. The company announced its results after trading hours on Wednesday, 17 April 2013.
Lupin said at the fag end of the trading session on Wednesday, 17 April 2013, that the US Court of Appeals for the Federal Circuit has ruled in its favor regarding its appeal of a previous judgment by a lower court for Bayer AG's Yaz oral contraceptive product. Lupin is currently seeking approval from the USFDA for its generic and is working out its commercialization plan. Lupin's Generic Drospirenone and Ethinyl Estradiol Tablets (3 mg + 0.02 mg) of Bayer AG's Yaz tablets are indicated for prevention of pregnancy, to treat the symptoms of premenstrual dysphoric disorder (PMDD) for women and to treat moderate acne for women at least 14 years old only if the patient desires an oral contraceptive for birth control. The total sales for branded and generic sales for the product stood at $361 million (IMS MAT Dec 2012).
Key benchmark indices closed flat after witnessing high intraday volatility on Wednesday, 17 April 2013. The S&P BSE Sensex lost 13.77 points or 0.07% to 18,731.16, its lowest closing level since 15 April 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 206.68 crore on Wednesday, 17 April 2013, as per provisional data from the stock exchanges.
The stock market remains closed tomorrow, 19 April 2013, on account of Ram Navmi.
The near term focus of the market is on Q4 results. Wipro announces Q4 results tomorrow, 19 April 2013. Cairn India announces Q4 results on 22 April 2013. UltraTech Cement announces Q4 results on the same day. HDFC Bank announces Q4 results on 23 April 2013. Axis Bank will announce its Q4 March 2013 results on 24 April 2013. Jindal Steel & Power declares its Q4 results on 25 April 2013. Hero MotoCorp, ICICI Bank and Maruti Suzuki unveil Q4 results on 26 April 2013. IDFC announces Q4 results on 1 May 2013.
Bharti Airtel and Kotak Mahindra Bank unveil Q4 results on 2 May 2013. ACC and Ambuja Cements announce Q1 March 2013 results on 3 May 2013. HDFC announces Q4 results on 8 May 2013. Ranbaxy announces Q1 March 2013 results on the same day. Dr. Reddys Laboratories announces Q4 results on 14 May 2013. Bajaj Auto announces Q4 results on 16 May 2013.
Asian stocks were slightly higher. Key benchmark indices in Hong Kong, Singapore, China and Taiwan were up by 0.03% to 0.22%. Key benchmark indices in South Korea, Japan and Indonesia were down by 0.26% to 0.41%.
US stocks fell sharply on Wednesday, 17 April 2013, led by a sharp drop in Apple shares on worries about slowing demand for its products and weaker-than-expected results from Bank of America. The Dow Jones Industrial Average declined 138.19 points, or 0.94%, at 14,618.59. The Standard & Poor's 500 index dropped 22.56 points, or 1.43%, at 1,552.01. The Nasdaq Composite index slide 59.96 points, or 1.84%, at 3,204.67.
Powered by Capital Market - Live News
