Car major Maruti Suzuki India after trading hours on Thursday, 7 November 2013, said its production declined 5.51% to 1.01 lakh units in October 2013 over October 2012. The car major had said on 1 November 2013 that its total sales rose 1.9% to 1.05 lakh vehicles in October 2013 over October 2012.
Tata Motors and Punjab National Bank unveil Q2 results today, 8 November 2013. United Spirits, Sun TV Network, Indian Oil Corporation, Divi's Labs, Crompton Greaves, UCO Bank and Power Finance Corporation among others also unveil their quarter ended 30 September 2013 results today, 8 November 2013.
Metal stocks may be in demand on positive trade data in China. China is the world's largest consumer of copper and aluminum.
On a consolidated basis, Tech Mahindra's net profit rose 4.7% to Rs 718 crore on 16.3% increase in revenues to Rs 4771 crore in Q2 September 2013 over Q1 June 2013. Operating profit (EBITDA) jumped 28.5% at Rs 1111 crore in Q2 September 2013 over Q1 June 2013. The result was announced after market hours on Thursday, 7 November 2013.
Vineet Nayyar, Executive Vice Chairman, Tech Mahindra, said, "The Digital World is the next phase of our growth and we are ready to ride that wave. I am confident of our alignment with the needs of next generation consumers, with industry best practices and core strengths that our solutions bring."
C P Gurnani, Managing Director & CEO, Tech Mahindra said, "The winning trio for us this quarter - growth across verticals, regions and practices reflects the Tech Mahindra's new found energy and alignment to win large deals, as well as participate with customers in their transformation journey. Our judicious investments in building Connected Solutions and relentless focus on enhancing customer experience is showing results."
Debt was at Rs 335 crore as of 30 September 2013; down by Rs 412 crore during the quarter. Cash and cash equivalent at Rs 3273 crore as of 30 September 2013.
The Cabinet Committee on Economic Affairs has approved the proposal of follow on public offer (FPO) of Power Grid Corporation of India (PGCIL) of 78.70 crore equity shares constituting 17% of existing paid-up capital which comprises fresh issue of 60.18 crore equity shares and offer for sale of 18.51 crore equity shares by the selling shareholder that is the President of India. Additional resources generated through the issue of the FPO will be utilized by PGCIL in its investment programmes.
TV Today Networks reported net profit of Rs 12.83 crore in Q2 September 2013 as compared to net loss of Rs 9.15 crore in Q2 September 2012. Net sales rose 35.9% to Rs 91.45 crore in Q2 September 2013 over Q2 September 2012.
SpiceJet reported net loss of Rs 559 crore in Q2 September 2013, higher than net loss of Rs 164 crore in Q2 September 2012. Total income from operations rose 6.07% to Rs 1257.22 crore in Q2 September 2013 over Q2 September 2012.
On a consolidated basis, Tata Coffee reported net loss of Rs 12.88 crore in Q2 September 2013 as compared to net profit of Rs 36.84 crore in Q2 September 2012. Net sales fell 3.1% to Rs 455.57 crore in Q2 September 2013 over Q2 September 2012.
On a consolidated basis, Aurobindo Pharma's net profit rose 5.67% to Rs 234.95 crore on 27.33% rise in total income to Rs 1918.97 crore in Q2 September 2013 over Q2 September 2012.
Cummins India's net profit fell 10% to Rs 144.81 crore on 14.5% fall in net sales to Rs 913.80 crore in Q2 September 2013 over Q2 September 2012.
On a consolidated basis, Eicher Motors' net profit rose 62.75% to Rs 107.43 crore on 16.16% rise in total income to Rs 1751.33 crore in Q2 September 2013 over Q2 September 2012.
United Breweries reported net loss of Rs 18.57 crore in Q2 September 2013 as compared to net profit of Rs 34.20 crore in Q2 September 2012. Total income fell 1.22% to Rs 848.78 crore in Q2 September 2013 over Q2 September 2012.
The board of Redington (India) has approved to sell either in part or wholly the investment in Easyaccess Financial Services (Easyaccess), a wholly-owned subsidiary of the company to Harrow Investment Holding, Mauritius, the company's promoter, at a price based on independent valuation reports of Merchant Bankers, however not less than its book value. For this the company has proposed to obtain the approval of members of the company through postal ballot.
On a consolidated basis, Redington (India)'s net profit rose 4.3% to Rs 76.07 crore on 13.9% rise in net sales to Rs 6672.55 crore in Q2 September 2013 over Q2 September 2012.
Mirc Electronics said its board will meet on 13 November 2013, to consider raising funds through rights issue of equity shares.
V-Mart Retail has opened a new store at Rajender path in Bihar. The store is spread in an area of 7410 square feet. This takes the total number of stores to 87.
Shares of Atul Auto turn ex-dividend for an interim dividend of Rs 4 per share for the year ending 31 March 2014.
Shares of Monsanto India turn ex-dividend for an interim dividend of Rs 12 per share for the year ending 31 March 2014.
Shares of Rolta India turn ex-dividend of Rs 3 per share for the year ending 31 March 2014.
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