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Saturday 6 April 2013
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Tuesday 26 February 2013
Pantaloon Retail Q3 net loss at Rs 20 crore:Opt2Wealth Financials
Pantaloon Retail today posted a loss of Rs 20.41 crore on standalone basis for the quarter ended December 31. The Future Group company had clocked a net profit of Rs 5.64 crore in the same period last fiscal.
Total income stood at Rs 1,289.33 crore whereas the same was at Rs 1,111.48 crore for the quarter ended December 31, 2011, the company said in a release. The current period figures were not comparable with the previous year on account of extension of the accounting period by six months from June 30, 2012, to December 31, 2012, the release said.
During the 18 months ended December 31, the company has posted a net profit of Rs 273.26 crore. Total income stood at Rs 7,015.43 crore for the 18 months ended December 31, 2012. As per consolidated results, the retail giant posted a net profit of Rs 275.67 crore for the 18 months ended December 31. Total income was Rs 20,316.37 crore in the same period.
Improved consumer sentiments, lower interest outgo and higher operational efficiencies marked the final quarter of the financial year for the company. The core retail business turnover increased from Rs 2,893 crore to Rs 3,171 crore for quarter ended December 31, year-on-year basis.
The interest outgo came down from Rs 176 crore for the quarter ended September 30, to Rs 157 crore in the quarter ended December 31, 2012. The company witnessed brisk sales in festive season during the quarter vis-à-vis the previous year. After quite a few consecutive quarters of weak consumer sentiments, sales during the festive season improved significantly, it said.
Categories like fashion, footwear, home appliances and home fashion, which were hit hard during the slowdown, posted encouraging sales. The upcoming quarters will provide a clearer indication of whether the demand upswing remains consistent, it said.
Pantaloon ended the December quarter with 16.38 million sq ft of retail space. It added 0.41 million sq ft of retail space during the December quarter. In the lifestyle segment, the company opened two Pantaloon, 4 Brand Factory and 3 eZone stores.
The company said the next court hearing of its petition regarding the demerger of Pantaloons Fashion Format is scheduled on March 1.
Monday 25 February 2013
Gold rises as Italy vote doubt boosts safe-haven appeal | Opt2wealth Financials Blog
Spot gold inched up on Tuesday, extending gains from the previous session as uncertainty over Italy’s election results stoked fears of a resurgent euro zone debt crisis, boosting bullion’s appeal as a safe-haven investment.
FUNDAMENTALS
* Spot gold had edged up 0.1 percent to USD 1,595.41 an ounce by 0034 GMT, extending gains into the fourth straight session.
* US gold was up half a percent at USD 1,595.10.
* Election projections show that no party is likely to win a majority in the upper house of Italy’s Senate, fuelling worries about revived political uncertainty in the euro zone’s third-largest economy, which could reignite the debt crisis.
* Investors will closely watch US Federal Reserve Chairman Ben Bernanke’s testimony to Congress on Tuesday and Wednesday, to seek clues on the Fed’s attitude on its monetary policy.
* Likely government budget cuts and the prospect for messy political fights over fiscal policy will weigh on the US economy this year and hold growth to a tepid 2.4 percent, according to a survey of forecasters published on Monday.
* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dropped 7.83 tonnes, or 0.61 percent, to 1,272.848 tonnes on Feb 25, the lowest since August 2012.
MARKET NEWS
* US stocks on Monday suffered their biggest drop since November after the strong showing in Italian elections by groups opposed to the country’s economic reforms.
* The euro crouched near a six-week low against the dollar while the yen kept some distance from multi-month lows on Tuesday.
Nifty in red; Kalindee falls 3% ahead of Rail Budget | Opt2wealth Financials Blog
Barely few hours to go for the big announcement on Railways and key railway stocks remain laggard in a listless market. BSE Sensex and NSE Nifty continue to languish at 19202.94 (down 128 points) and 5814 (down 40 points), respectively.
Kalindee Rail has fallen over 3 percent and Texmaco Rail was struggling at Rs 60, down 2.6 percent.
Ranbaxy was trading marginally down ahead of its results. Analysts expect revenue degrowth of 30% YoY to 2667cr due to a high base effect. The stock was the biggest gainer yesterday after the company reintroduced production of Lipitor generic; CLSA upgraded it to outperform with a target price of Rs 475.
Pantaloon continues to trade flat after reporting weak set of numbers in the December quarter. JP Morgan has put a target price of Rs 215 and remains underweight on the stock.
Telecom stocks look stable and Bharti Airtel trades with over 4 percent gains after it decided not to participate in the spectrum auction. The stock was up 4.5 percent. Idea Cellular and Reliance Comm too were trading in the green.
Tuesday 17 July 2012
Equity tips:Nifty tips Tommorrow
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Share To Buy Tommorrow
Share market India today traded so-so and ended (closed) on a flat note range bounded. Share market was trading quite fine in the morning session, suddenly it started creating selling pressure in the late noon session, which resulted in range bound and flat closing today. While on the other hand the Asian market ended on a strong note, also European share rose.
Share Market View and Outlook For Tomorrow -
Current share market trend is range bound and it seems that it will not remain the same and tomorrow market opening bell will be in green, FMCG indices and BSE Health care indices were traded in green today and gained some weight in the market. While Bajaj auto, Tatamotors and Tcs where among the biggest looser today. Also the Bse Mid cap and small cap indices have slipped 0.4%
Nifty Trend and Expert Recommendations -
Nifty shut today at : 5192.85 down 4 points, its being traded negative after the late noon session, today nifty opening was quite good and traded in green till the early noon, chances are seen to rise in tomorrow's trading session. For today's share market, The top Nifty gainers Wipro, Dr Reddy, Itc and Sunpharma and the biggest losers included Reliance, BPCL and Bajaj Auto
Don't be surprise if Nifty climbs to 5600 in the next month or so. However, we advise long-term investors against buying into the current market because of the lag in fundamentals.
Saturday 14 July 2012
Stock market news update:L&T gains after commencing switchgear facility in Gujarat
Larsen & Toubro gains in early trade today after the company inaugurated its manufacturing facility for switchgear products at Vadodara in Gujarat on Thursday.
The facility will manufacture air circuit breakers and mould case circuit breakers and the company has targeted to achieve annual revenues of Rs 4,600 crore.
The stock rose 1 percent to Rs 1,422.50 on the Bombay Stock Exchange, while the BSE Sensex was up 104 points, or 0.61 percent at 17,337.
L&T Chairman and Managing Director A M Naik said, “The new Vadodara switchgear facility is an investment for the future. It forms part of the wide ranging initiatives we are taking forward … The facility will enable us to elevate switchgear manufacturing technology to the next level, and advance further in our goal to upgrade India’s manufacturing capabilities.”
Talking about the company, Naik also said that slowdown in the economy has not affected L&T’s plans.
Naik said that it was laudable that the country managed to build fresh capacity to generate about 60,000 MW of power during the 11th five year plan because in the earlier five year plans, additional power generation used to be only about 20,000 to 25,000 MW.
He also stressed the need to address the problem of fuel needed for setting up new power projects or expanding capacities of existing power plants.
Naik who met Akhilesh Yadav after he took over as UP Chief Minister said, “L&T is ready to set up power plants in Uttar Pradesh provided availability of fuel is ensured and other related issues are resolved.”
Naik also recalled his meetings with West Bengal chief minister Mamata Banerjee and Tamil Nadu chief Minister Jayalalithaa, both of whom have welcomed investment by L&T in their states.
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LIC ups stake in Infy to 6.3%, buys shares worth Rs 2k cr
Stock market news
The country’s largest insurer LIC has hiked its stake in Infosys to a record level of 6.3 percent with purchase of shares worth an estimated Rs 2,000 crore in the first quarter of the current fiscal.
Life Insurance Corp of India (LIC), also one of the biggest investors in the Indian stock market, saw its holding in the IT major rise from 4.9 percent to 6.3 percent during the quarter ended 30 June, 2012.
Based on the average market price during the period, the increase in LIC’s Infosys holding could be worth more than Rs 2,000 crore. LIC is the largest non-promoter shareholder of the company.
LIC hiked its stake in Infosys even as a number of foreign investors pared their holding in the IT company—which has been known as the bellwether stock in the Indian IT space till recently, but is now facing growing concerns about its future growth prospects.
Infosys shares fell sharply yesterday after the company disappointed with its first-quarter results and the weakness was seen continuing in the stock even today morning. The stock was down 0.7 percent at Rs 2,250 at the BSE in mid-day trade, as against a 52-week high of 2,990 on 22 February, 2012.
The overall FII holding in Infosys fell from 39 percent to nearly 38 percent during the last quarter, although major investors like Aberdeen, Oppenheimer, Franklin Templeton, Vanguard and Singapore Government’s investment arm raised their stake marginally in the Indian IT firm.
Among the major overseas investors (those holding at least one per cent), only Abu Dhabi Investment Authority pared its stake, that too very marginally from 2.12 percent to 2.08 percent. However, all the FIIs together are estimated to have sold shares worth about Rs 1,500 crore during the quarter.
Concerns are being raised about Infosys’ growth prospects for two quarters now, but state-run LIC appears to be keeping its faith in the company, market observers said. Barring the last quarter of the previous fiscal ended 31 March, 2012, LIC has been mostly raising its stake in Infosys for many quarters now.
LIC had made its first investment in Infosys way back in 2002, when its holding was nearly two per cent. Since then, LIC’s stake has been continuously rising in Infosys and had crossed five per cent mark last year and then rose past 6 percent level during the last quarter. Prior to LIC, the erstwhile Unit Trust of India (UTI)—one of the biggest stock market investors of the country before being wound up—used to be the largest non-promoter shareholder in Infosys.
UTI held a stake of more than 8 percent way back in 2001, but it gradually fell to about one percent by 2003.
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