Stock In Action 1st August 2012

According to business standard, Diversified business group ITC has scaled up its holding in Hotel Leelaventure Limited, yet again, by acquiring more than one per cent through its wholly owned subsidiary, Russell Credit. During the April-June quarter, Russell Credit picked up 1.1 per cent in the hospitality major, taking total stake to 13.98 per cent, while the promoters hold a 56.57 per cent. The Hotel Leela stock hovered between Rs 29.55 and Rs 35.75 around that time. ITC has been accumulating Hotel Leela shares since late 2008 when the stock was trading between Rs 19-20, but has maintained that these were treasury operations. On the back of this news one may see volatility in the share price of ITC and Hotel Leela in today’s trading session.

Titan has announced its result for the June quarter 2012. The company reported 8.77% increase in its net profit for the quarter ended June 30 at Rs 156.09 crore on the back of good performance by all segments. Further the company had posted a net profit of Rs 143.51 crore in the corresponding period last year, Titan Industries said in a statement. In a statement given in the Media Titan Industries Managing Director Bhaskar Bhat said: "The first quarter has been disappointing by way of sales growth due to several factors leading to a weak consumer sentiment. Consumer response was good only to discount offers, thereby impacting margins, specially in watches and eyewear.". We may see some pressure on the stock today.

As per the media News Competition watchdog CCI has approved the proposal by Maruti Suzuki India (MSI) to merge its engine and transmission supplier Suzuki Power train India Ltd (SPIL) into itself. The Commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission approves the proposed combination," CCI said in an order. Post the merger, SMC's stake in MSI will go up to 56.2% from 54.2% due to a share swap agreement with the domestic car market leader to acquire SPIL. This is positive news and we may see some positive movement in the stock today.

Air conditioner maker Blue Star yesterday reported an over two-fold increase in its net profit to Rs 20.54 crore for the quarter ended June 30. The company had posted a net profit of Rs 9.79 crore in the same period last year, Blue Star said in a filing to the BSE. The net income during the first quarter of this fiscal went up by 3.89% to Rs 731.42 crore from Rs 704.03 crore in the year-ago period. The company has posted decent result for the quarter and we may see some positive momentum in the stock today.

As per the BSE filings Wind turbine-maker Suzlon Energy yesterday said its German subsidiary Repower has bagged orders for supply of 219 MW machines worth 247 million Euros in the June-July period in five countries. In a statement given in Media Company MD Mr Tulsi Tanti stated that these orders clearly underscore the continuing momentum in the wind sector across the developed markets. He further stated that the orders highlight its strong outlook and long-term business visibility, driven by strong competitive global positioning as a group.

Further one could watch out for stocks like Adani Ports, Adani Power, BASF India, Ceat, Federal Bank, Gulf Oil, Glaxosmithkl Cons, Manappuram Finance, Volats etc as these companies are going to announce their June quarter numbers. One could see some volatility in the above mentioned share price in today’s trade.