Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Bank and power stocks rally
Mon, 28 May Closing

In what was a positive trading session, the benchmark indices in Indian equity markets closed well above the dotted line. In fact the BSE Sensex was in the green right from early trades. Major markets in Asia were also trading well in the positive. The BSE-Sensex closed higher by around 199 points (1.2%). Gains on the NSE-Nifty came in at around 65 points (up 1.3%). The BSE Mid cap and BSE Small cap indices also ended the day in the positive closing 1.2% and 0.9% higher respectively. Heavily beaten stocks over the past few months from banking, power and consumer durables sectors saw strong gains. All sectoral indices ended higher.

Most other Asian indices closed higher today with European indices also seeing gains. The rupee was placed Rs 55.19 to the dollar at the time of writing.

Pratibha Industries (PIL) announced its results for the quarter and year ended March 2012. The company reported a standalone top line growth of 49% YoY during the quarter. Growth was led by the company's 'infrastructure and construction' business. At the operating level, PIL's profits grew at a slower pace of 24% YoY as margins fell by 2.5% YoY to 12%. Higher manufacturing, construction and operating coupled with higher other expenses were the key culprits for lower margins. Higher interest and depreciation costs reduced the pace of profit growth as profits during the quarter increased by 7% YoY only.

As for the full year, PIL's revenues and profits increased by 28% YoY and 17% YoY respectively. As compared to the performance during the quarter ended March 2012, the company performed relatively better at the operating level as margins declined by 0.6% YoY. For the full year FY12, PIL's operating margins stood at 13.9%. The company's Board has recommended a dividend of Rs 0.6 per share, translating to a dividend yield of about 1.5%

Mahindra & Mahindra (M&M) plans to reopen bookings of its popular after sports utility vehicle, XUV 5OO nationally by 8 June, 2012. This vehicle has seen a buoyant response from customers. The vehicle maker already sold out 9 months production capacity of XUV 5OO in just 2 round of bookings. Now to cater to the incremental demand, the company has doubled its capacity to 4,000 vehicles per month. During its 2011 launch, it expected only half this demand. Now since the capacity has increased, it will be better equipped to supply vehicles to its eager customers.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Bank and power stocks rally". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.