Stocks to watch: HDFC, Sun Pharma, BHEL, GAIL, ONGC, IFCI, Siemens, Tech Mahindra, Biocon

[B. Karthick]

MUMBAI: Crude oil prices were little changed Thursday after data
showed weak demand from the world's top oil user. US crude oil for
September delivery rose to $65.59 per barrel after hitting a low of
$65.04. London Brent crude was at $67.40.

The rupee was at 48.37 against the dollar, from previous close of
48.52 tracking gains in regional share markets.

Housing Development Finance Corporation on Wednesday unveiled plans to
raise Rs 4,000 crore by placing debentures with institutions, as it
announced a 21% rise in first quarter profits and spoke about a
resurgence in housing demand.

HDFC reported a net profit of Rs 564.92 cr for the quarter to end-
June, up from Rs 468 in the year earlier period. Although profits
improved, HDFC’s net interest margins declined slightly, falling to
2.19% for the quarter from 2.21% in FY09 and 2.32% the year before.

Caraco Pharmaceuticals, the US arm of Sun Pharma, has been slapped
with a class action suit in the United States for allegedly not
disclosing adequate information about US regulatory action that hurt
its shares, rendering India’s most valuable drugmaker vulnerable to
the prospect of hefty payouts as damages.

BHEL is looking forward to announce its biggest order ever for six
major power plants with a capacity to generate 600 mw each. The
company’s order book has increased from initial guidance of Rs 50,000
crore. According to BHEL chairman, it must be more than Rs 50,000
crore and may be coming to Rs 55,000 crore during the financial year.

Gas utility GAIL will buy gas from flagship explorer Oil and Natural
Gas Corporation's (ONGC) new fields off the Mumbai coast - which are
expected to start pumping next month - at $5.5 per mBtu (million
British thermal unit). GAIL would buy the C series gas at 30% higher
price than the $4.2 mBtu price at which Reliance Industries is selling
gas from Andhra offshore under a formula approved by the government.

IFCI posted net profit of Rs 100.78 crore for the quarter ended June
30 as compared to Rs 151.07 crore in the same quarter a year ago.
Total income increased to Rs 327.75 crore from Rs 313.42 crore.

Siemens has bagged two orders worth Rs 109 crore from Power Grid
Corporation of India Ltd to construct and upgrade PGCIL's 400 kv
Bachau and 400 kv Maithon substations.

Tech Mahindra’s net profit for quarter ended June 2009 was down 46 per
cent at Rs 140 crore from Rs 259 crore reported a year ago. Total
Income fell to Rs 1030.3 crore from Rs 1125.73 crore.

Biocon reported net profit of Rs 57.5 crore for the quarter ended June
from Rs 15 crore in the same period a year ago. Net sales grew to Rs
496 crore from Rs 264 crore.

Results today: ACC, Alstom Projects, Ambuja Cements, Bharti Airtel,
Biocon, Edserv Softsystems, Essel Propack,Gujarat State Petronet,
Hikal, HOEC, Indian Bank, Idea Cellular, ITC,MRPL, Marico, Nagarjuna
Fertilizer, Maruti Suzuki, ONGC, Siemens, Texmaco, Transformers &
Rectifiers, United Phosphorous, Uttam Galva Steels, Union Bank, United
Breweries, Zee News.