STOCKS ALERT (24.07.2012)
rupeedesk
STOCKS ALERT (24.07.2012)
* ALLAHABAD BANK: Cuts rate on some deposits by 25 bps.
* BHARTI AIRTEL: June GSM user addition unchanged on month at 2 mln.
* CAIRN INDIA: Apr-Jun consolidated net profit jumps 40.3% on year to 38.26 bln rupees on the back of higher production from Rajasthan block. Net sales rise 19.6% on year to 44.40 bln rupees. Has relinquished an oil block in the Kerala-Konkan region.
* CLARIS LIFESCIENCES: Aditya Sushil Kumar Handa, one of the promoters, sold over 1.73 mln shares of the company Monday for 280 mln rupees through open market.
* DABUR INDIA: To maintain advertisement spend at 15-16% of revenue in Jul-Sep.
* FEDERAL BANK: HSBC may sell its 4.98% stake in the bank to raise 4.25 bln rupees.
* HINDUSTAN UNILEVER: Exceptional gain of 6.08 bln rupees helps the company post 112% year-on-year jump in net profit at 13.31 bln rupees. Net sales rise 13.72% to 62.50 bln rupees.
* IDEA CELLULAR: Apr-Jun consolidated net profit falls 2% sequentially to 2.34 bln rupees; net sales rise nearly 3% on quarter to 55.01 bln rupees. June GSM user addition 1.19 mln as compared to 1.75 mln in May.
* INDIAN OIL CORP: Has increased prices of petrol by 70 paise per ltr.
* KARNATAKA BANK: HSBC may sell its 4.46% stake in the bank to raise 4.50 bln rupees.
* LUPIN: Will challenge a US court order, preventing the company from selling a low-cost generic of Pfizer's Pregabalin drug for six years.
* MAHANAGAR TELEPHONE NIGAM: June GSM user addition 162 vs loss of 168,363 users in May.
* MARUTI SUZUKI: The Haryana government has appointed senior lawyer K.T.S Tulsi as special prosecutor to fast-track the probe into the Jul 18 mob violence at the company's Manesar factory. The Japanese embassy in Delhi is initiating an independent probe to ascertain the events that led to violence at the company's Manesar unit.
-May see large-scale lay-offs after the violence at the company's Manesar unit on Jul 18.
* OBEROI REALTY: Chairman and Managing Director Vikas Oberoi hopes to tie up with an hotel operator for its project at Worli in central Mumbai by end September.
* ORCHID CHEMICALS AND PHARMACEUTICALS: Serum Institute of India has increased its stake in the company by purchasing 1 mln additional shares for 127 mln rupees through bulk deal.
* RALLIS INDIA: Apr-Jun consolidated net profit rises 4.5% year to 241.7 mln rupees, led mainly by sharp rise in other income. Net sales rise 16% on year to 3.38 bln rupees.
* SKS MICROFINANCE: Plans to extend more loans to kirana stores this year; to also offer finance for purchase of mobile phones.
* SMS PHARMACEUTICALS: The Appellate Authority has suspended Andhra Pradesh Pollution Control Board's order seeking closure of the company's unit at Batchupally.
* TATA GLOBAL BEVERAGES: Apr-Jun net profit falls 65.9% on year to 560.8 mln rupees and net sales increase 10.2% on year to 5.63 bln rupees.
* TORRENT PHARMACEUTICALS: Apr-Jun net profit 1.47 bln rupees, net sales 6.20 bln rupees.
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