Majority of the telecom stocks are trading in the green. Telecom major, Bharti Airtel has announced its December 2011 quarter results. The company reported a revenue growth of around 17.3% YoY backed by double-digit growth in all segments barring telemedia service segment that witnessed a tepid growth of 0.7% YoY during the quarter. The company's minutes of usage (MoU) declined marginally to 419 minutes per subscriber per month after hike in promotional tariffs in some of its key circles. Bharti's operating margins stood at 32.2% during 3QFY12, which was higher than the 31.7% seen during the same period last year. Operating expenses were lower on account of the savings in staff costs as well as in selling, general and administrative expenses. However, the company's net profits declined by 22.4% YoY due to higher interest costs as well as higher depreciation charges during the quarter. The stock is down 5%.
Most of the engineering stocks are trading positive with Emco Ltd and AIA Engineering being the biggest gainers. As per a leading financial daily,Larsen & Toubro (L&T)'s arm L&T Construction has bagged fresh orders valued at over Rs 18.8 bn under various business segments during the December 2011 quarter. Bulk of the order worth Rs 10.48 bn was bagged by the Infrastructure segment. In the water and effluent treatment business, the company has secured orders worth Rs 3.48 bn from Gujarat Water Infrastructure Ltd. In the Power Transmission & Distribution IC, the company received new orders worth Rs 2.6 bn and additional orders from various ongoing projects worth Rs 2.2 bn have been bagged. While this is a positive for the company in terms of revenue visibility, execution is the key. L&T stock is up 0.75%.