4th August 2011,Morning Market updates

4th August 2011,Morning Market updates 8:45
Stock in news

Results today: Adani Power, Mundra Port, Cummins India, Ansal Properties, OnMobile, Bombay Dyeing, Educomp, Zicom, Sterling Tools, JBF Industries, Hindustan Motors, Uflex, Indian Hotels, EMCO 

Finance Ministry sources-Finance Ministry considering 20-30% hike in excise on tobacco products
-Hike in excise duty on diesel run cars also being considered
-3-Tier excise hike on diesel cars may be looked at
-Rs 20,000-`50,000 & Rs 70,000 depending on size of car
-Final decision in consultation with the PM
-Hike unlikely if economy starts looking up & revenues improve

Wockhardt -Danone deal-Trustees representing bond holders seek time to reply
-Wockhart has sought Bombay HC nod for Danone deal
-Bombay HC adjourns case to September 6

Other stocks and sectors that are in news today:-Listing today: Inventure Growth & Securities -F&O additions w.e.f August 5: Coal India , Delta Corp , Dhanlaxmi Bank , Gujarat Fluorochemicals 
-F&O Ban: Deccan Chronicle , Gitanjali Gems 
- Acropetal Technologies MD along with other promoters may buy up to 5% stake in the co
- GMR to consider placing bids for operating two leading airports in Spain – BS - DLF to sell 2 non core assets to reduce debt, plans to raise up to Rs 7000 crore in 3 years via asset sale – ET 
-Shriram Group set to foray into housing finance & is in talks to sell upto a 49% stake (ET)
- ONGC plans to commence oil & gas production from Krishna Godavari basin in a month & start pumping hydrocarbons from another block in the offshore region next May (ET)
- RIL revived its interests in West Bengal, also wants the state to plan out a concrete policy before investing (BS)
- Power Grid Corp to raise Rs 2500 crore by issuing corporate bonds before the end of this month (BS)
-Investments from Mauritius, Cayman Islands & Cyprus are set to be treated on par with those in sensitive sectors like telecom from the regulatory perspective (FE)
- EL Forge rights issue of 1.2 crore equity shares in the ratio of 3:2 opens today 
- GTL promoter & ICICI bank are discussing a settlement after ICICI Bank opposed merger betweenGTL Infra & Chennai network infrastructure (TOI)

United Spirits Q1FY12 (cr - crore, vs - versus)
-Net sales up 32% at Rs 1935 cr vs Rs 1463 cr 
-PAT up 14% at Rs 138 cr vs Rs 121 cr 
-Total Expenditure up 36% at Rs 1618 cr vs Rs 1191 cr  
-EBITDA up 17% at Rs 330 cr vs Rs 281 cr
-EBITDA margin at 17.1% vs 19.2% 

Hindustan Copper Q1FY12 
-Net sales up 19% at Rs 269 cr vs Rs 226 cr 
-PAT up 2 times at Rs 60 cr vs Rs 20 cr 
-Total Expenditure up 6.2% at Rs 207 cr vs Rs 195 cr 
-EBITDA up 89% at Rs 66 cr vs Rs 35 cr 
-EBITDA margin at 24.5% vs 15.5% 
-Other income almost double at Rs 23.5 cr vs Rs 12.34 cr
-Higher copper prices lead to the better topline 

Jindal Drilling and Industries Q1FY12 
-Net sales down 4.4% at Rs 240 cr vs Rs 251 cr 
-PAT down 25% at Rs 21 cr vs Rs 28 cr
-Total Expenditure up 5% at Rs 221 cr vs Rs 211 cr 
-EBITDA down 49% at Rs 22 cr vs Rs 43 cr 
-EBITDA margin at 9.2% vs 17.1%  
-Failure to maintain sales followed by higher expenditure impacted the bottom line

Trident Q1FY12 
-Net sales up 20% at Rs 697 cr vs Rs 583 cr 
-Net loss at Rs 39 cr vs net profit at Rs 11 cr 
-Total Expenditure up 18% at Rs 633 cr vs Rs 535 cr  
-EBITDA up 7% at Rs 104 cr vs Rs 97 cr
-EBITDA margin at 14.9% vs 16.6%  
-Topline has done well but downfall in the bottom line has been led by exceptional loss of Rs 81 crore arising out of loss on valuations of stocks in trade, work in process and raw material.

Federal Mogul Q1FY12
-Net sales up 28% at Rs 281 cr vs Rs 219 cr 
-PAT down 22% at Rs 7 cr vs Rs 9 cr 
-Total Expenditure up 1% at Rs 284 cr vs Rs 281 cr  
-Expenditure highers than sales has impacted the profits and margins.

Oberoi Realty Q1FY12 Consolidated 
-Net sales  up 1% at Rs 160 cr vs Rs 158 cr 
-PAT up 33% at Rs 106 cr vs Rs 80 cr 
-Total Expenditure down 4% at Rs 77 cr vs Rs 80 cr  
-EBITDA up 8.5% at Rs 89 cr vs Rs 82 cr
-EBITDA Margin at 55.6% vs 51.9% 

TVS Srichakra Q1FY12 
-Net sales up 53.5% at Rs 347 cr vs Rs 226 cr 
-PAT up 71% at Rs 12 cr vs Rs 7 cr
-Total Expenditure up 53% at Rs 322 cr vs Rs 211 cr 
-EBITDA up 55% at Rs 31 cr vs Rs 20 cr 
-EBITDA Margin at 8.9% vs 8.8%

Subros Q1FY12  
-Net sales up 8% at Rs 252 cr vs Rs 234 cr 
-PAT up 14% at Rs 8 cr vs Rs 7 cr 
-Total Expenditure up 7% at Rs 238 cr vs Rs 222 cr  
-EBITDA up 17% at Rs 14 cr vs Rs 12 cr 
-EBITDA margin at 5.6% vs 5.1%

Loyal Textile Mills Q1FY12 
-Net sales up 78% at Rs 308 cr vs Rs 173 cr 
-PAT halved at Rs 2 cr vs Rs 4 cr 
-Total Expenditure up 89% at Rs 282 cr vs Rs 149 cr 
-EBITDA up 8% at Rs 26 cr vs Rs 24 cr 
-EBITDA margin at 8.4% vs 13.9%      
-Major increase in expenditure towards raw material followed by higher trade purchases has led to the down fall in the bottom line.

IG Petrochemical Q1FY12 -Net sales up 18% at Rs 195 cr vs Rs 165 cr 
-PAT down 60% at Rs 2 cr vs Rs 5 cr 
-Total Expenditure up 22% at Rs 190 cr vs Rs 156 cr   
-EBITDA down 44% at Rs 5 cr vs Rs  9 cr 
-EBITDA margin at 2.6% vs 5.5%  
-Higher expenditure due to cost increase towards raw material impacted the PAT and the Margins