Stocks In Action For 23rd July 2012
Sagar Lele / 23 Jul 2012
Maruti Suzuki is expected to be seen trading lower today as well since the company announced it does not have a clue of when operations would being in the Manesar plant after the recent violence where 1 person was killed, several injured and many arrested.
DLF has got a nod from its shareholders over the proposal for the sale of its wind energy unit. This transaction is expected to strengthen the core realty business of DLF. The company has also sold its entire stake in its subsidiary, Adone Hotels & Hospitality, according to media reports. The company is in constant efforts to clear its huge debt pile and there is some positive sentiment expected to follow in the stock prices on the back of this news.
Ultratech Cement on Friday posted 17 per cent higher sales and an increase in profits of 14 per cent for Q1FY13. The company, which is among the top two cement makers in India, announced a net profit of Rs 683 crore. The government’s concentration of infrastructure projects has mainly been the driver for the robust figures of Ultratech. The stock is expected to open in the positive.
Reliance Industries saw a decline of 21 per cent in net profit for the June quarter because of the pressure on margins in its refining and petrochemicals businesses. This is the third quarter for RIL announcing weak growth figures. Revenues grew for the company’s refining and petrochemicals businesses but declined by as much as 36 per cent for the oil and gas business. These results are expected to slump the stock prices for RIL and also drag the market lower.
Zee Entertainment too announced results and these were seen to be robust and optimistic. All the components of the business witnessed considerable growth in both, the topline and the bottomline. The EBITDA margins for the firm are at an encouraging 27.7 per cent for the quarter.
Volatility is expected to exist for the companies announcing their Q1FY13 results today. Among the major ones are Colgate, Dabur, Geometric, Hindustan Unilever, Idea Cellular, Indian Bank, JK Paper, Jubilant, L&T, Tata Global, Torrent and TV18, among others. Their movement will depend on the figures they announce.
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