NSE WEEKLY NEWS UPDATE

✍ TVS Motor Q2 Net up 6.71 per cent to Rs 94.81 crore

Chennai-based TVS Motor today reported 6.71 per cent increase in its standalone net profit at Rs 94.81 crore for the quarter ended September. The company had posted a net profit of Rs 88.84 crore during the July-September quarter last fiscal, it said in a filing to the BSE. Net income of the company increased 34.93 per cent to Rs 2,683.07 crore for the quarter under review as compared to Rs 1,988.37 crore in the same period a year ago.


✍ SBI Q2 net rises 31% to Rs 3,100 crore

Country's largest bank SBI on Friday reported 30.5 per cent growth in net profit at Rs 3,100.41 crore for the quarter ended September 30.
The standalone net profit of State Bank of India (SBI) was Rs 2,375 crore in July-September quarter of 2013-14, it said in a filing to the BSE.
Provisioning against bad loans during the quarter stood at Rs 4,274 crore, up 41 per cent from Rs 3,029 crore in the September quarter of last fiscal.
Gross non-performing assets (NPA) as a percentage of total advances stood at 4.89 per cent at the end of September, lower than 5.64 per cent in the year-ago period.
Net NPA was 2.73 per cent.Total income increased to Rs 41,833 crore during the quarter from Rs 37,199.92 crore in the corresponding period last year.


✍ HPCL net up 166% in Q2 on govt's subsidy support

Hindustan Petroleum on Thursday posted a bumper growth in its net profit in the September quarter on the back of subsidy support from the government with a net profit of Rs 850.31 crore, marking some 166% increase over Rs 318.92 crore in the year-ago period.
HPCL director (finance) K V Rao said the company bore only Rs 8 crore loss on fuel sales after government gave cash subsidy of Rs 1,403 crore and upstream firms such as ONGC extended Rs 3,751 crore (by way of discount on crude) to meet under-recoveries on diesel and kitchen fuels.
Earning from processing each barrel of crude stood at $2.12 in Q2 as compared to $3.81 per barrel a year ago. The refining margin was lower on account of inventory loss as global oil prices slumped. Turnover was marginally lower at Rs 51,633.18 crore against Rs 51,903.66 crore.




✍ Government hikes excise duty on petrol to Rs 2.70/litre and diesel to Rs 2.96/litre

The government on Thursday raised excise duty on petrol and diesel to boost the exchequer, but fuel prices would remain unchanged at least for the next fortnight.
Duty has been hiked to Rs 2.70/litre from Rs 1.20/litre on unbranded petrol and to Rs 2.96/litre from Rs 1.46/litre on unbranded diesel. On branded diesel, duty has been raised to Rs 5.25/litre from Rs 3.75/litre and on branded petrol the levy has been raised to Rs 3.85/litre from Rs 2.35/litre.


✍ Sun Pharma Q2 net up 15% at Rs 1,572 crore

Sun Pharma on Thursday said its consolidated net profit rose by 15 per cent to Rs 1,572 crore for the second quarter ended September 30.The drug major had posted a net profit of Rs 1,362 crore during the same period of previous fiscal.Net sales of the company rose to Rs 4,751 crore for the second quarter, up 13 per cent, from the same period of previous fiscal.


✍ Tata Steel Q2 net up 37% at Rs 1,254 crore

Tata Steel on Wednesday reported 37 per cent rise in consolidated net profit to Rs 1,254.33 crore for the July-September quarter mainly on account of proceeds from land sale worth Rs 1,146.86 crore. The world's 11th biggest steelmaker had clocked Rs 916.77 crore net profit in the corresponding quarter of the last fiscal, it said in a statement. The profit of the company before exceptional item and tax stood at Rs 1,302 crore, from Rs 1,398 crore.


✍ IFC issues first 1,000 crore ‘Masala bonds’ in UK

IFC, a member of the World Bank, issued a 10-year, Rs 1,000-crore bond ($163 million) to increase foreign investment in India, mobilizing global capital markets to support infrastructure development in the country. The "Masala bonds" mark the first rupee bonds listed on the London Stock Exchange. They are the longest-dated bonds in the offshore rupee markets, building on earlier offshore rupee issuances by IFC at three-, five-, and seven-year maturities. Proceeds from the offering will support a forthcoming infrastructure bond issuance by the Axis Bank, IFC said on Tuesday.


✍ Jet reports Rs 43cr loss

The Jet Group has reported a loss of Rs 43 crore in the July-Srptember, 2014, quarter, down 96% from a loss of Rs 999 crore in same period last fiscal. On a standalone basis (not including JetLite), Jet Airways reported a profit of Rs 70 crore compared to a loss of Rs 891 crore last year. The group's combined revenue rose Rs 613 crore to Rs 5,092 crore in Q2, from Rs 4,480 crore in same quarter last year.


✍ Tata Motors Q2 net down 7% at Rs 3,291 cr

Tata Motors reported a 7% dip in consolidated net profit at Rs 3,291 crore for the quarter ended Septmeber 2014. It was Rs 3,542 crore in the smae period a year ago.However, the consolidated total income rose 6% to Rs 60,783 crore as against Rs 57,100 crore in September 2013.


✍ HDIL posts 35% jump in net profit

HDIL posted a 35% jump in its net profit in the second quarter of current financial year at Rs 57.8 crore as compared to Rs 42.7 crore in the corresponding quarter of previous financial year.The fall was due to decrease in interest charges .The company's total income went down 31% at Rs 304.8 crore in Q2 of FY 2015 as compared to Rs 443.9 crore in Q2 of FY 2014.


✍ BHEL Q2 net down 72.5% at Rs 125 crore

BHEL's Q2 net profit fell 72.5% to Rs 125 crore from Rs 456 crore in the year-ago quarter.Net sales came in at Rs 6,027 crore compared to Rs 8,819 crore in the quarter ended September 30, 2014.


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