5th August, 2011 Morning Market Updates

5th August, 2011 Morning Market Updates 8:45
Stock in news

Results today: Ranbaxy, Cipla, MOIL, Aban offshore, Wyeth, BOSCH, HOEC, Jain Irrigation, Redington India, Welspun India, Great Eastern Shipping, Fertilizers & Chemicals Travancore, Cinemax India, Timken, Escorts, Sundaram Fasteners, Indo Tech Transformers, Indowind Energy, Infomedia 18

Telecom Commission meet: Exclusive -Crucial meet of Telecom Commission on August 10
-Telecom Commission to mull spectrum management & licensing framework
-Telecom Commission to mull VSNL land matter on August 10
-Proposal to demerge or hive off surplus VSNL land

Jeh Wadia says -Core of Bombay Dyeing group will now be real estate business
-Plan to monetise land bank in Island city
-Bombay Realty campaign to be launched in August
-Realty plans to be in luxury, mixed use segment
-Textile business to diversify into high margin retail business
-Will open more exclusive retail stores

Pawan Goenka says -Welcome market-based diesel pricing or dual diesel pricing
-Overall consumption of diesel by passenger cars only 10%
-Dual pricing should not be imposed on commercial vehicles
-Excise hike on diesel cars to have limited impact on M&M

JBF Industries Q1FY12 consolidated (cr - crore, vs - versus) 
-Net sales up 13% at Rs 1591 cr vs Rs 1413 cr 
-PAT down 5% at Rs 52 cr vs Rs 55 cr 
-EBITDA Margin at 10% vs 11%

Onmobile Q1FY12 Consolidated 
-Net sales up 10% at Rs 136 cr vs Rs 124 cr 
-PAT down 28% at Rs 13 cr vs Rs 18 cr 
-EBITDA Margin at 20% vs 23%

Emco Q1FY12 Provisional 
-Net sales up 58% at Rs 188 cr vs Rs 119 cr 
-Net profit at Rs 2 cr vs net loss at Rs 26 cr

Samtel Q1FY12 
-Net sales down 45% at Rs 157 cr vs Rs 283 cr 
-Net loss at Rs 38 cr vs net loss at Rs 5.5 cr

Uflex Q1FY12 consolidated 
-Net sales up 64% at Rs 1125 cr vs Rs 685 cr 
-PAT up 57% at Rs 96 cr vs Rs 61 cr

Indian Hotels Q1FY12
-Net sales up 12% at Rs 370 cr vs Rs 329 cr 
-PAT at Rs 20 cr vs Rs 3 cr 
-EBITDA margin at 19% vs 16%

Other stocks and sectors that are in news today:-F&O additions w.e.f today: Coal India , Delta Corp , Dhanlaxmi Bank , Gujarat Fluorochemicals 
-F&O ban: Deccan Chronicle , Gitanjali Gems - Carborundum Universal : Board meet today on stock split from Rs 2/sh to Re 1/sh
-Chinese banks offers yuan loans to finance more than USD 50 billion of power equipment for Indian companies at lower interest rates posing a threat to BHEL & L&T (ET)
-Steel prices may surge on the back of Karnataka mining ban with spot prices of iron ore rising by USD 1-2 daily since the ban (ET)
-Tata Tele & Uninor may not get 2G in Delhi soon despite the TRAI order as communication minister may give the nod only after reviewing methodology & priority order (ET)
- Syndicate Bank may delay seizure of GTL shares pledged by the company’s owners as collateral while creditor’s try to revamp its USD 1.1 billion debt (ET)
-US based PE KKR & the promoter of Avantha Power set to invest USD 120 million in the company with the PE set to acquire 11% more stake in the company (ET)
-Tea output set to fall by 120m kg this year as shortfall & high global prices push profitability of tea cos in the first quarter (ET)
-Steel Ministry may remove the import duty on coking coal giving some respite to steel companies (FE)
- GVK Power & Infra which holds seven oil & gas blocks off the western coast of India & its partner BHP Billiton may sell a part of their stakes to another company (Mint)
- Hindustan Motor disposes of its entire land holding of about 120 acre in Gujarat for Rs 70 crore (DNA)
- JSW Steel ’s Vijaynagar plant which accounts for 70% of the company's total steel production is likely to shut down in three days as it runs out of raw material